►
Description
City of San José, California
Public Safety, Finance & Strategic Support Committee meeting of August 20, 2020
Pre-meeting citizen input on Agenda via eComment at https://sanjose.granicusideas.com/meetings.
This public meeting will be conducted via Zoom Webinar. For information on public participation via Zoom, please refer to the linked meeting agenda below.
Agenda https://sanjose.legistar.com/View.ashx?M=A&ID=797869&GUID=DFBBF5F7-80DB-4613-811B-9C275363E668
A
A
B
A
A
Okay,
maybe
she's
having
some
some
issues,
but
I
did
see
her
mute
on
and
off.
We
had
a
little
bit
of
audio
from
there,
but
we
do
have
a
quorum.
So
thank
you
and
we
have
a
couple
participants
in
our
attendees
if
you're
joining
us
today
by
zoom,
you
can
also
join
us
if
you're
watching
on
youtube
or
channel
26
and
then,
if
you're
interested
in
submitting
a
comment,
if
you're
here
on
our
zoom,
you
just
raise
your
hand
and
we'll
call
on
you.
A
C
A
A
B
B
A
Okay,
thank
you
and
then
we
have
nothing
on
consent.
So
we'll
go
right
to
our
first
report,
which
is
item
d1
and
that's
our
fourth
quarter.
Financial
report-
oh
actually
excuse
me-
and
I
should
have
made
a
mention
of
this
before
we
do
the
vote,
but
but
we
are
going
to
allow
our
fire
chief
to
present
first
because
of
all
the
fire
incidents
that
we
do
have
going
on
at
the
moment,
we'd
like
to
get
him
back
out
to
work
and
not
in
a
committee
meeting
with
us.
A
E
B
E
E
E
I
included
a
picture
of
a
water
fire
department
connection,
because
these
are
very
similar
in
the
way
that
they
work
the
way
we
get
water
into
the
building
from
our
fire
engine
pumps
is
through
these
fire
department
connections.
We
would
use
a
fire
department
apparatus
to
supply
air
to
the
fbar
system
in
san
jose.
We
have
98
existing
high-rise
buildings,
13
more
are
under
construction,
and
we
are
currently
reviewing
plans
for
39,
more
high-rise
buildings
of
the
existing
98
buildings.
E
E
In
this
case,
we
have
a
breathing
air
support
unit
that
supplies
air
to
the
external
connections
on
the
building
and
again
that
that
just
supplies
air,
so
that
we
can
fill
air
bottles
in
the
building.
As
you
see
in
the
middle
photo
with
the
firefighter
filling
bottles
there
and
then
on
the
right
again,
you
see
that
filling
cabinet
a
little
bit
about
the
environment
that
firefighters
work
in.
E
For
example,
if
we
had
an
injured
firefighter,
we
could
use
that
rated
elevator
to
bring
them
down
quickly,
and
so
the
overall
recommendation
from
our
folks
is
that
we
could
perform
those
functions
that
I
just
described
of
rotating
air
bottles
effectively
with
fire
service
access
elevators.
I
I
do
want
to
oops.
Excuse
me.
I
do
want
to
emphasize
the
second
part
of
that
question
that
we
were
asked
to
evaluate
with
regards
to
whether
these
systems
are
at
least
equal
or
better.
E
A
Chief,
can
I
chief
I'm
going
to
interrupt
you
for
a
second.
It
looks
like
your
definitions
here
are
reversed,
just
for
anybody.
Looking
at
the
slide,
the
the
f
bars
definition
looks
like
it's
actually,
the
the
elevator
definition
and
vice
versa.
So
just
just
for
anybody.
Looking
at
the
slides,
those
two
definitions
are
reversed.
What
you're
describing
is
obviously
correct,
but
the
slide
is
incorrect.
E
I
apologize
you're
right,
I'm
looking
at
that
now,
so
to
be
clear,
so
fire
service
access,
elevators
provide
just
like
any
other
elevator
vertical
lift
and
they
can
they
can
elevate
and
lower
throughout
the
building,
and
that
gives
us
the
ability
to
move
vertically
anything
in
the
building
that
would
fit
in
the
elevator
and
meet
the
weight
requirements,
including
personnel
equipment
and
air
bottles
versus
the
f
bar
system,
which
would
be
a
system
whereby
we
could
fill
air
bottles.
Only.
E
A
Thank
you
chief,
and
we
do
have
one
member
of
the
public
that
wants
to
speak
so
I'll.
Let
blair
jump
in
first
before
we
and
then
it
looks
like
we
got
a
couple
more
hands
going
up.
So
we'll
do
public
comment
first
and
then,
and
then
we'll
go
over
to
my
colleagues
and
I
believe
there'll
be
city
staff,
support
on
it
yeah.
Thank
you.
Yeah.
F
F
G
G
It's
local
230s
position
that
removal
of
the
requirement
to
install
f
bars
from
the
san
jose
municipal
code
as
currently
required
and
as
required
since
2010,
degrades
firefighter
and
high-rise
building
occupant
safety.
There
were
good
reasons
to
make
fbar
as
a
requirement
in
2010,
and
those
same
reasons
exist
today.
Additionally,
if
I,
if
I
may,
a
comment
made
by
the
fire
chief
could
be
misinterpreted
as
one
or
the
other.
G
My
understanding
is
that
even
if
f
bars
would
be
removed
from
the
munich
code,
the
elevator
requirement
would
still
be
there,
so
we're
going
to
have
the
elevator
to
remove
injured
firemen
regardless.
That's
that's!
That's
a
that's
a
requirement
regarding
this
issue.
There's
there's
a
there's
a
lot
to
it,
so
local
230
is
respectfully
requesting
that
any
final
decision
on
this
matter
be
delayed
until
such
time
that
we've
been
given
adequate
time
to
further
study
the
issue.
That's
all
I
have
right
now.
A
A
A
A
Yeah,
so
so
is
it?
Is
it
true
that
it's
the
case?
I
guess
this
is
a
state
law
that
requires
this
type
of
elevator,
the
fsae
in
these
circumstances,
right
and-
and
that
would
be
regardless
of
what
rules
we
impose
here
in
san
jose.
We
have
to
follow
this
or
developers,
would
have
to
follow
this
correct.
E
The
the
alternative
would
be
elevators
and,
and
chris
murphy
was
correct-
that
for
any
building
over
120
feet,
the
elevator
would
be
required
anyway,
and
so
I'm
not
trying
to
be
argumentative
against
what
he
said.
I
just
want
to
point
out
that
small
distinction
of
75
feet
would
would
be
where
the
allowance
for
an
elevator
as
an
alternative
would
begin.
A
Thank
you.
That's
actually.
I
appreciate
the
clarification
there
so
above
120
feet
doesn't
matter
what
we're
saying
here.
The
the
elevators
would
be
required
by
state
law,
but
between
75
and
120.
If
we
changed
our
our
regulations,
then
there
wouldn't
be
the
requirement
of
an
elevator
or
the
fr
system,
and
so
there
would
be
sort
of
that
that
interim
gap
between
these
these
75
to
120
foot
buildings,
so.
A
E
A
C
Thank
you
chair.
I
was
curious.
I
appreciate
the
report
and
I
know
that
this
is
a
question
that
we've
had
in
front
of
us
last
year.
I
appreciate
the
the
the
feedback
that's
come
back
today
and
I'm
I'm
glad
to
see
that
that
our
fire
union
has
called
in
to
reiterate
their
position
as
they
represent
all
of
our
firefighters
and
ultimately
they
see
the
the
long-term
impacts
and
effects
on
their
physical
bodies
at
the
end
of
their
service
and
as
we've
seen
many
times
in
closed
session.
C
And
it's
a
good
thing
that
we
haven't
really
explored
that
just
yet
because
we
haven't
had
that
and
I'm
going
to
knock
on
wood
as
I'm
living
on
the
on
the
edge
and
the
other
ridge
of
of
this
fire.
That's
ongoing
just
behind
us,
and
so
this
is.
This
is
really
close
right
now
in
terms
of
what
the
the
level
of
devastation
it
would
mean
for
a
family
for
a
community
and
certainly
for
our
firefighters,
and
so
you
know
I'm
going
to
support
what
we
currently
have
now
and
and
not
have
any
alternatives.
C
H
E
Yeah,
so
we
conducted
to
try
to
make
sure
that
we
heard
from
stakeholders.
We
conducted
a
survey
of
developers
to
try
to
understand
how
they
viewed
these
systems
and
we,
we
queried
questions
that
included
both
fire
service
access,
elevators
and
f
bars,
and
what
I
was
trying
to
do
is
give
you
as
neutral
a
response
as
possible
just
to
the
raw
questions
that
we
asked
about.
E
You
know
their
their
general
satisfaction
about
dealing
with
the
systems,
what
they,
what
drove
their
thought
processes,
that
sort
of
thing
and
ultimately,
with
regards
to
the
evaluation
we
did
as
a
department
for
these
systems.
I
didn't
factor
in
any
of
those
concerns
right.
Ours
are
basically
operational
relative
to
what
an
elevator
does
for
us
operationally
and
what
an
fbar
system
does
for
us
operationally.
H
Thank
you
for
that,
and
I
did
note
that
I'll
just
note
that
I
think
there
was
a
survey
and
there
was
about
23
respondents
from
the.
I
guess
that
I'll
just
call
it
the
high-rise
community
development
community
that
responded
to
the
survey
and
just
looking
on,
I
think
it's
page
seven
of
the
of
the
report.
Under
there
there's
a
column,
the
second
sort
of
sort
of
gathering
of
information,
one
of
them
says,
cost
and
it
says
22.09
and
I
think
you
had
like
19
respondents.
H
A
H
Oh
only
30
seconds,
I
think
that's
all
of
it
man
so
ju
chief,
if
you're
still
on
the
call
so
page,
seven,
it
tucks
touches
on
cost
and
it
has
a
column
for
s,
bar
f
bars
and
f
at
the
elevators
I'll
just
refer
to
those,
and
so
the
number
the
23
respondents
responded
to
both
the
the
questions,
as
it
relates
to
elevators
and
f
bars.
Are
those
matching
or
were
they
a
distinct
and
different
number
of
respondents
to
those
different
questions?.
E
No,
so
that
that
category
you
could
select
multiple
things,
and
so
that's
why
it's
not
as
easy
to
clear
to
see
in
terms
of
the
the
other,
the
graph
above
it
or
the
chart
above
it,
which
is
shows
the
number
of
of
responses,
and
so
with
regards
to
the
the
selections
the
the
developers
could
pick
multiple
aspects.
So
that's
why
it's
a
little
more
difficult
to
understand
how
many
responded.
H
Okay,
all
right,
I
guess
for
me
and
just
this
whole
conversation
when
we're
talking
about
public
safety-
and
you
know
what
you
know
well
chief
for
me
personally,
and
I
think
for
the
majority
of
folks
that
you
would
ask
this
question
to
is:
is
that
the
public
safety
of
over
first
responders
should
should
take
precedent,
and
so
for
me
hearing
chris
murphy
from
local
230,
chime
in
and
state.
I
think
his
words
were
removal
of
fba
requires
requirements
would
degrade
public.
H
You
know
the
safety
of
the
firefighters,
that's
certainly
concerning
to
me.
I
also
understand
that
it
probably
needs
a
little
bit
more
study,
as
he
also
suggested
delaying
it.
I'm
wondering,
if
he's,
if
he's
still
on
the
call
and
if
chris,
if
you're,
still
on
the
call,
if
you
can
maybe
share
how
much
time
you
think
local
230
needs.
G
G
We
also
had
a
longtime
member
just
last
week
off
duty
going
to
cardiac
arrest
and
he
was
in
critical
condition
for
a
while
he's
doing
doing
better
now,
but
we
rallied
our
resources
around
him.
So
this
this
was
not
front
and
center
on
our
you
know,
radar
screen,
we
became
aware
of
it,
so
we
really
didn't
have
time
to
adequately
study
it.
I'm
asking
for
for
90
days
for
us
to
do
some
further
discussion
with
the
fire
chief's
office.
Do
some
further
analysis
and
then
come
back
to
you
with
a
more
comprehensive
response.
H
Okay,
thank
you
so
much,
sir.
Those
are
all
my
questions.
I
I
just
move
a
recommendation
to
bring
this
back
to
the
committee
after
90
days
when
the
local
230
representatives
have
have
a
better
chance
to
understand
this,
a
little
bit
more
deeply
and
give
us
a
a
deeper
sort
of
explanation
as
to
what
their
perspective
is
on
this
second.
C
A
A
I
know
that
the
you
know
sort
of
the
the
recommendation
here
has
just
come
out
ten
days
ago.
I
am
a
ware
chief.
Obviously
you
you
put
it
in
the
report
in
your
outreach
to
local
230,
and
I
appreciate
all
them
saying
they
would
like
some
more
time
to
be
able
to
themselves
maybe
provide
more
feedback
and
make
a
recommendation.
It's
important
to
me
that
local
230
gets
that
opportunity
to
do
so.
A
A
You
know,
maybe
you
know
a
collision
and
comprehensive
coverage,
and
then
you
know
you
go
from
100
300
000,
you
know
200
500,
250
500,
you
start
to
go
up
and
your
deductibles
go
down,
and
then
you
get
uninsured
motorists
on
top
of
that,
there's
sort
of
these
different
levels
right.
Would
you
say
that
it
would
be
the
safest
to
to
have
both
systems
installed
rather
than
this?
A
Initially,
what
the
question
was
is
hey
is
one
better
than
the
other
which,
as
you
point
out
in
your
report,
you're
saying
you
can't
definitively
say
that
and
and
so
would
you
say,
though,
that
that
having
both
of
these
considering
that
they
are,
you
know
kind
of
totally
different.
You
have
an
elevator
system
and
then
you
have
the
fr
system.
E
I
I
would
say
for
what
firefighters
confront
we
we
meet
those
challenges
with
people
and
with
tools,
and
so
the
more
people,
the
better
the
more
tools,
the
better
and-
and
I
would
say
you
know
straight
answer
to
your
question-
would
be
if,
if
both
fbar
systems
were
always
present
and
both
and
and
fire
service
access,
elevators
were
always
present.
That
would
be
sort
of
the
cadillac
model
right.
We'd
have
all
options
at
our
fingertips.
A
Okay,
and
in
addition,
I
think
local
230
must
have
stated
this,
because
you
put
it
in
your
report
that-
and
you
just
mentioned
it
right
now-
one
of
the
other
elements
not
to
be
forgotten
is
just
staffing
right.
It's
just
the
personnel,
the
actual
bodies
to
respond
to
a
call,
and
I
think
and
I'll
pull
it
up
real
quick,
but
you
talk
about
how
a
high-rise
fire
and
you've
got
the
standard.
A
Operating
practice
is
a
level
three
three
alarm:
you
have
91
personnel,
approximately
50
of
on
duty
resources
and
that
certainly
that
puts
a
huge
strain
on
the
rest
of
the
city.
And
then,
if
you
go
beyond
that,
we
need
to
go
to
mutual
aid.
So
I
think
it
shouldn't
be
forgotten
in
that
regard
as
well
right
that
personnel
is,
is
really
the
first
key.
A
You
know
key
part
of
combating
any
of
these
high-rise
fires
and
your
current
standard
operating
procedures
are
actually
to
assume
that
there
is
no
f
bars
or
no
fire
safety
elevator,
because
a
number
of
our
buildings
don't
have
them
today
and-
and
you
have
so,
you
have
to
have
that
as
your
your
base
standard
operating
procedure.
But
I
do
look
at
that
as
the
liability
option
in
insurance
right.
A
A
I
think
we
just
have
to
be
realistic
about
that,
and
we
can
have
those
conversations
here
and
maybe
we
can
have
them
more
thoroughly
in
three
months,
and
so
I
will
ask
if
local
230
can
can
ensure
that
we
can
come
back
within
the
90
day
time
frame.
I
don't
want
to
kick
this
out
too
long.
It
has
been
going
on
for
some
time
and
so
I'll.
Just
I
think
chris
is
still
on
so
chris.
A
If
staff,
if
you
can
unmute
him,
just
want
to
make
sure
that
we
can,
we
can
stick
to
that
timeline
90
days
is,
is
the
longer
time
frame.
I
would
like
to
get
this
heard
and
a
recommendation
to
the
full
council
before
the
end
of
the
year,
even
if
we
hear
it
in
the
beginning
of
next
year,
but
the
90
day
time
frame
would
allow
us
to
do
that,
so
cheers
go
ahead.
B
Just
looking
at
the
work
plan,
I
would
recommend
that
if
we're
going
to
do,
90
days
would
be
slightly
more
due
december
10th,
because
the
november
19th
date
is
pretty
full
with
a
bunch
of
police
items.
So
I
would
recommend
december
10th.
So
at
night
it's
a
special
meeting
at
9
30.
So
it's
a
little
earlier
in
december
and
to
see
if
that
would
be
where
everybody
would
be
ready
and
they
know
the
date
we're
shooting
for.
H
A
C
C
I
E
We
did
capture
in
terms
of
the
the
questions
that
that
issue
of
competitive
bidding
came
up
anecdotally
over
a
few
years
and
in
the
survey
we
did
dig
a
little
deeper
and
found
that
there
we
could
only
find
two
vendors
and
one
of
them
was
exclusive
to
the
state
of
texas,
and
so
you
can
imagine
perhaps
where
a
little
bit
of
the
frustration
comes
from
for
for
the
developers.
In
that
case,.
A
Okay,
so
you
have
one
vendor
truly,
then
then
you
don't
have
much
competition
in
bids,
okay,
but
you
don't
have
any
of
the
cost
data.
So
I
don't
know
exactly
you
know
who
would
lead
on
trying
to
get
that?
But
if
we
included
that
in
the
motion,
what
yourself
or
or
staff,
how
do
you
feel
in
regards
to
being
able
to
produce
that.
E
The
the
difficulty
of
of
that,
I
think
is
it
becomes
circumstantial
to
the
structure
in
a
lot
of
cases
and
so
per
square
foot
costs.
For
example,
if
a
building
is
is
going
to
be
required
to
have
fire
service
access
elevators,
they
might
just
use
their
normal
normal
occupant
traffic
elevators
and
convert
them
or
upgrade
them
to
fire
service
access,
and
that
might
be
a
marginal
cost,
whereas
in
some
applications
they
may
add
an
entirely
new
elevator
shaft
and
that's
an
entirely
different
cost.
E
A
Yeah,
that
was,
I
just
you
know
my
initial
concern
as
well
would
be.
I
don't
know
if
tasking
this
to.
You
is
the
right.
You
know
group
to
task
it
to
considering
you're,
not
in
the
business
of
paying,
for
it
right
we're
in
the
business
of
requiring
it
or
not,
and
then
the
developers
have
been
paying
for
it,
and
so
I
think
that
might
be
an
additional
challenge.
I
don't
know
if
the
councilmember
dennis
you
wanted
to
follow
up
on
that,
and
then
we
can
hand
it
over
to
councilmember
jimenez.
C
Sure
I
I
think
it
could
be
loosely
based,
and
I
certainly
wouldn't
look
to
hold
our
chief
to
his
feet
to
the
fire
based
on
he's
not
in
this
industry
and-
and
I
know
that
every
building
is
different,
the
costs
are
different.
I
mean
it's
just
so
unique.
Every
development
is
unique
and
I
guess
what
I
think
we
could
quantify
on
our
end
is
the
cost
that
it
takes
for
us
to
be
prepared.
Regardless
of
the
of
the
systems.
C
Right
I
mean,
there's
always
a
cost,
and
and
and
what
does
that
cost
to
the
city
of
san
jose,
and
so
I
I
think
it's
it
won't
be
apples
to
apples.
It
won't
be
comparative,
but
at
the
very
least
we
can
see
what
each
of
those
options
represents
for
us
in
terms
of
how
we
prepare
for
a
call,
I
I
think,
right
now
we
have
a
default
to
assume
that
none
of
these
build
buildings
or
high
rises
has
the
elevators
or
f
bars.
So
we
take
our
own
equipment.
C
E
E
I
will
tell
you
to
be
highly
debatable
and
this
was
a
a
passionate
discussion
in
some
cases
where
some
some
argued
that
the
value
of
an
elevator
is
that
we
don't
have
to
port
equipment
upstairs,
which
is
very
tedious,
work
and
very
taxing,
and
then
there's
the
other
side
of
the
argument
of
folks
who
feel
passionate
that
they
want
air
throughout
the
building
available
to
fill
bottles
and
that's
just
a
different
approach,
but
it's
it's.
It
would
be
difficult
to
put
a
a
price
tag
to,
but
we
could
in
the
abstract
talk.
E
E
I
would
say
yes,
but
I
could
also
go
the
other
way
and
say:
I'm
still,
you
know
dependent
on
a
street
side
apparatus
to
do
to
perform
that,
and
I
only
have
two
of
those
in
the
city
which,
which
you
know
that's
a
challenge
to
you.
So
it's
a
a
lot
went
into
this
very
simple
document
in
terms
of
looking
at
the
operation
overall.
C
Not
a
simple
document
at
all.
I
know
there
was
a
lot
a
lot
of
implications
in
in
every
page
and
certainly
a
lot
of
consideration
on
your
part.
So
any
way
we
we
can
quantify
the
resources
that
we
have
to
expend
on
a
call.
That
would
be
great
whether
it's
additional.
What
do
you
call
them
the
tanks
this?
C
Just
going
to
call
them
tanks,
because
now
yeah,
we're
gonna
say
that
we're
scuba
diving
here
so
whatever
the
cost
is
for
us
to
bring
in
additional
tanks,
because
there
isn't
a
filtration
system
set
up
in
the
building,
whatever
it
is,
whatever
factors
into
making
a
decision
when
you
go
out
into
a
call
and
I'll
leave
it
up
to
you
to
decide
the
specifics
on
that.
I
just
want
us
to
be
able
to
quantify
this
in
some
some
very
general
way
or
very
specific
scenario.
C
H
I
just
had
a
thought
I
mean
chief,
would
it
be?
I
assume
it'd
be
relatively
easy
for
you
to
reach
out
to
maybe
the
office
of
economic
development,
some
of
the
folks
that
do
a
lot
of
the
work
with
the
developers
and
the
high-rise
community
to
just
in
you
know,
inquire
or
see
if
they
have
any
thoughts
or
information.
H
H
Yeah,
because
I
because
I
think
I
mean
the
experience
on
the
city
council-
is
that
the
developers
are
often
very
vocal
about
challenges
and
getting
things
built
and
and
cost
prohibitive
type
of
requirements,
whether
it
be
fees
or
whatever
it
may
be,
that
the
city
imposes,
and
so
I
suspect
that
there's
probably
a
list
somewhere
of
the
costs
associated
with
this,
and
maybe
some
concerns
from
them.
So
I
I'd
like
to
think
something
already
exists,
but
that
may
be
worthwhile.
Thank
you.
A
A
Is
there
a
differentiation
in
cost
on
the
these
systems
to
us
right
whether
it's
training,
the
bottles,
the
you
know
the
way
that
we
need
to
interact
with
these
devices,
and
so
that
would
be
you
know,
and
it
may
be
negligible,
but
I
think
that
would
be
important
to
kind
of
see
that
on
your
end,
so
we
have
a
motion
and
we'll
be
coming
back
in
december
and
I
think
it's
december
9th,
correct
and
and
then
it
will
include
this.
This
additional
analysis.
A
B
A
C
A
A
A
J
Okay,
good
afternoon,
chair
and
members
of
the
committee
julia
cooper
director
of
finance,
I'm
going
to
apologize
to
start
off
with
I'm
going
to
tf
the
presentation,
but
I'm
going
to
have
to
jump
off,
because
I
have
a
rating
presentation
scheduled
with
s
p.
That
starts
at
2
30
and
I'm
the
lead
off.
So
I
don't
want
to
be
late
with
that,
because,
obviously
we
don't
want
to
impact
our
ratings
for
our
upcoming
bond
issues.
J
So
with
that
nikolai
skarloff,
who
is
our
new
deputy
director
for
debt
and
treasury
management,
just
started
at
the
end
of
june
he'll,
be
jumping
off
as
well,
because
he's
working
on
the
rating
presentation
as
well,
but
we
also
have
luz
kos
frisky,
how
our
assistant
director,
who
will
take
over
along
with
chinu's
son
who's,
making
the
bulk
of
the
presentation.
So
as
customary,
the
information
on
the
revenue,
management
and
debt
management
is
included
in
the
packet
for
your
information.
J
We
only
do
the
slide
presentation
on
the
investment
portion
of
the
of
the
report
in
order
to
be
in
compliance
with
our
investment
policy.
We
do
that
with
the
second
and
fourth
quarter
reports.
So
we'll
start
with
the
slide
deck.
That's
on
page
10,
which
is
the
fourth
quarter
report
for
fiscal
year
20..
So
the
investment
policy
conforms
with
the
oh.
Do
we
have
it
up
somebody's
who's,
putting
up
the
slide
deck?
J
J
J
We
continue
to
manage
our
investments
to
meet
the
objectives
of
safety,
liquidity
and
yield,
and
the
yield
component
is
becoming
increasingly
more
challenged
in
this
interest
rate
environment,
which
will
talk
to
that
a
little
bit
and
then
the
quarterly
reports
are
online
put
on
the
committee
agenda
and
then
also
separately
set
agendas
for
the
council
meetings.
So
with
that,
I'm
going
to
turn
it
over
to
chin
you
and
lose
and
you're
in
good
hands
and
talked
with
you
later.
Thanks.
D
D
The
earned
interest
yield
for
the
quarter
was
1.974
percent
quite
a
bit
lower
from
the
last
quarter.
As
we
all
know,
the
interest
rates
have
been
dropping
since
the
late
part
of
2019.,
and
we
did
average
days
to
maturity
at
the
end
of
june
was
672
days
a
few
days
shorter
than
the
last
quarter
last
the
quarter
prior
previously,
it
was
a
685
days,
fiscal
year,
two
year
to
date,
net
interest
earning
was
a
40.
D
Five
point
is
nine
million
dollars,
which
is
the
highest
in
my
tenure
with
the
city
of
san
jose
last
in
the
previous
fiscal
year
in
fy
and
1819,
the
portfolio
earned
this
city
35
million
dollars.
So
we
actually
increased
the
earning
in
this
physically
by
over
10
million
dollars
for
the
quarter.
There
was
no
exception
to
the
city's
investment
policy.
D
D
80
8
of
the
portfolio
was
invested
in
supernationals
and
then
about
43
percent
of
the
security
portfolio
was
invested
in
credit
factors
which
include
the
cdcp
corporate
nodes
and
municipal
bonds.
We,
as
you
all
know,
we
started
investing
mortgage-backed
security
asset
back
security
about
over
half
a
year
ago.
D
This
chart
shows
which,
with
what
funds
are
invested
in
the
city's
portfolio
and
the
red
part
red
portion
indicates
the
general
fund
at
the
end
of
the
quarter.
General
fund
has
a
balance
665
million
dollars
in
the
portfolio
which
represents
about
26
of
the
portfolio
general
fund
balance
increased
by
over
378
million
in
a
quarter.
D
D
As
you
can
see,
generally
the
general
fund
balance
increase
in
this
in
in
january
and
june
when
we
received
the
bulk
of
the
property
tax
and
it
decreased
during
the
summer
months
when
we
do
not
receive,
we
do
not
have
a
lot
of
cash
receipts
coming
in
and
then
you
for
this
year
because
of
the
pre-funding.
So
in
the
next
quarter
report
you
will
you'll
likely
see
a
steep
drop
in
general
fund
balance.
Three
see
a
kind
of
a
trough.
Looking
on
the
red
line,
that's
red
line
as
a
general
fund.
D
D
The
blue
line
is
the
city
portfolio.
We
generally,
we
over
performed
the
lathe
since
august
2019
and
then
the
spread
between
labor
and
our
portfolio
has
been.
It
has
been
widening
over
the
over
the
last
year
or
also
the
the
variance
between
our
portfolio
and
the
banking
american
american
maryland
index
has
also
been
narrowing
as
the
end
of
june
and
30th.
As
you
can
see,
the
city's
portfolio
has
a
yield.
Portfolio
has
aggregated
yield
to
maturity
as
1.88
and
every
day
majority
was
68
78
days
going
forward.
D
B
D
B
D
F
Hi,
thank
you
for
this
item.
Thank
you,
for
you
know
the
very
detailed
budget
reporting
here
I'm
pretty
impressed.
I
think,
for
a
beginner
to
understand
where
our
city
is
at.
It
can
be
of
a
lot
of
help.
Thank
you.
It
doesn't
mention
much
at
all
about
policing
within
that
part
of
the
budget,
which
is
a
bit
confusing
to
me
and
for
yourselves
to
you,
know,
make
off
these
incredible
budget
plans
within
the
framework
of
policing.
F
You
know
can
be
seen
as
a
bit
offensive.
If
you
consider
what
you
know
we're
trying
to
work
towards
at
this
time,
I
mean
I
appreciate
the
efforts
a
lot
I
mean
you
may
help
make
things
clear,
but
to
help
make
things
clear
through
the
police
department,
I
think,
can
make
people
uncomfortable,
and
I
just
wanted
to
point
that
out.
You
know
we're
part
of
important
efforts
right
now,
really
reassessing
how
we
think
of
things,
and
I
don't
want
to
hurt
those
efforts
at
all
at
this
time.
F
Can
that
book
budget
book,
as
you
called
it,
can
that
be
made
public?
Okay,
those
are
the
sort
of
steps
that
I
think
we
want
to
see
what
is
going
on
with
the
police
at
this
time
and
that
you
usually
do
have
your
fourth
quarter.
Reports
at
this
pacifist
that
talk
about
police
budget
matters,
I
believe
so,
if
you
can
explain
that,
what's
different
this
time,
I'd
appreciate
it.
Thank
you.
B
Well,
maybe
I
could
just
for
the
public's
good
square,
so
you
can
find
the
the
budget
book
is
really
the
proposed
and
adopted
budgets.
You
can
find
them
on
the
city's
website,
they're
very
detailed
they're.
They
have
an
operating
and
a
capital
budget
book
they're
over
a
thousand
pages
each
and
so
they're
open
to
the
public,
where
we
go
more
detail
than
most
cities,
and
you
can
certainly
look
at
the
police
department
in
full.
B
You
also
can
look
at
how
the
police
department's
performing
with
their
budget
as
part
of
our
bi-monthly
financial
reports
that
are
heard
by
this
committee
four
times
a
year
as
well
as
our
annual
report.
That's
heard
by
the
council
in
september
at
our
mid-year
budget
review,
that's
heard
by
the
council
in
february.
So
there's
lots
of
there's,
there's
very
public
information
on
our
budget
and
our
monitoring
of
it.
A
Thank
you
and
I
believe,
that's
it
for
our
public
speakers.
I
do
see
somebody
on
the
phone,
and
so
I'll
just
remind
you.
If
you
did
want
to
speak
and
you're
on
the
phone,
you
can
click
star
nine
and
that's
how
you'll
raise
your
hand
and
then
we'll
list
off
your
last
four
digits
and
and
if
you
wanted
to
speak
and
thank
you
jennifer
for
for
mentioning
that-
and
I
was
just
going
to
mention
as
well
to
blair's
comments
that
these
are
our
investment
reports.
A
This
is
it's
so
it's
specific
to
how
we
are
investing
the
dollars
for
each
different
pot
of
money
that
we
have
sort
of
where
they
sit
in
the
meantime
before
we
use
them.
So
it's
not
as
specific,
as
you
know,
the
use
of
them
and
how
you
know
each
department
is
using
those,
and
specifically
the
police
department's
budget,
is
actually
within
the
general
fund
dollars.
A
So
you,
you
wouldn't
see
a
separate
piece
of
the
pie,
labeled
police
budget
that
would
fall
under
the
the
general
fund
piece
of
the
pie
in
the
in
the
image
that
you
saw,
and
that
would
be
the
same
for
all
other
things
funded
by
the
general
fund.
You
wouldn't
see
that
a
denotation
of
of
them
with
their
own
little
slice,
and
let
me
go
back
to
my
colleagues-
I
don't
see
any
hands
raised.
I
just
had
one
question
and
that
was
well.
Maybe
question.
Slash
comment
slide.
A
That
made
me
happy.
It
said
that
the
projected
investment
of
charities
and
revenue
are
sufficient
to
cover
anticipated
expenditures
for
the
next
six
months.
Is
that
an
indication
of
of
stable
times
ahead?
I
know
that
we're
going
to
be
talking
about
our
you
know,
sort
of
our
our
budget
through
a
a
mid.
You
know
check
that
that
we
don't
traditionally
do,
and
there
was
a
nervousness.
I
think
right
that
there
may
be
deeper
cuts
and
potentially
even
salary
cuts
or
layoffs.
There's
you
know
looming
of
what
what
may
be
to
come.
D
D
It's
not
a
really
indication
of
the
revenue
by
itself.
We
gen
because
of
the
city's
revenue
comes
in
in
at
the
no,
not
even
now
throughout
the
year,
so
the
investment
program
does
a
does
a
significant
amount
of
job
to
smooth
out
the
cash
flow.
So
when
we
receive
more
revenues
such
as
january
and
then
june,
we
usually
invest
the
money.
We
don't
need
at
that
time
to
target
the
time
frame
that
the
city
needs
money.
D
So
when
we
say
the
state
code
requires
all
local
agencies
to
report
cash
flow
information
for
the
next
six
months
and
which
is
also
requirement
our
policy,
we
are
required
to
provide
sufficient
liquidity
for
the
city.
So
every
six
months
we
have
to
check
if
whether
our
investment
investment
maturities
inc
in
combination
with
revenues
anticipate
are
sufficiently
sufficient
to
cover
anticipated
expenditures.
A
A
A
F
Hi,
I'm
sorry
if
I
overreacted
a
bit,
I
I
don't
know
if
that's
usually
the
standard,
how
you
give
a
fourth
quarter.
If
you
give
your
quarterly
budget
reports
with
such
an
overall
view
of
the
city
budget
boy,
I've
been
doing
this
for
five
years
now.
I'm
really
sorry
that
I
I
didn't
pick
that
up.
You
know,
if
that's
a
standard
practice,
you
know
that's
one
thing
and
it
doesn't
mention
that
with
such
great
practices
that
you
offered
and
shared
with
the
budget
where
the
budget
is,
I
mean
it
was
great.
F
F
F
F
You
know
I
felt
that
that's
a
real
vital
resource
for
our
future
and
whenever
we
have
trouble
looking
up
items
or
studying
items
and
the
bureaucracy
that
you
know,
there's
going
to
be
a
ton
of
bureaucracy
right
now
to
figure
things
out
and
when
that
starts
to
get
overwhelming.
I
hope
you
can
just
review
the
open
forum.
F
I
mean
really
at
a
time
to
talk
about
community
policing
and
how
equity
can
have
a
major
part
in
that
process,
and
it
just
felt
really
uncomfortable
in
in
in
terms
of
how
you're
talking
about
it.
It
gets
some
getting
used
to
by
all
of
us,
but
I
hope
you
can
be
aware
of
what
we're
really
coming
from
as
community
persons.
Thank
you.
I
Hi,
my
name
is
crystal
campisi
and
I'm
a
senior
and
a
medical
marijuana
patient
and
today
I
would
like
to
respectfully
request
a
referral
back
to
staff
to
consider
waiving
the
marijuana
business
tax
for
medical
marijuana
card
holders.
Medical
patients
right
now
are
paying
close
to
35
percent
tax
on
their
medicine.
This
is
more
tax
than
alcohol,
gasoline
or
tobacco
taxes,
and
these
people
have
prescriptions
for
medications.
I
These
are
people
with
cancer
and
chronic
pain.
Prescriptions
by
law
are
not
subject
to
taxation,
but
somehow
we
got
caught
up
in
being
taxed
for
our
medicine,
this
35
tax
is
having
an
effect.
It's
taking
patients
taxing
patients
like
me,
out
of
the
ability
to
be
able
to
afford
my
own
medicine-
and
this
is
especially
true
during
this
cut
time
of
covid.
We
just
can't
afford
this
35
percent
tax
and
it's
driving
medical
patients
underground
to
the
black
market.
Where
cannabis
is
untested
and
unsafe.
I
Remember
that
vape
scare
we
had
last
year,
that's
untested
products,
it's
putting
our
aging
and
most
vulnerable
communities,
our
sick
communities
at
risk.
This
is
a
public
safety
issue.
What
we'd
like
to
do
is
waive
the
mbt
for
cardholders
get
patients
back
into
the
dispensary
to
safer
medicine
at
a
more
reasonable
tax
rate,
and
I
would
love
it
if
a
committee
member
would
champion
this
referral
for
me.
Thank
you.
So
much
for
your
time.
A
K
Yeah,
okay,
yeah:
I
think
that
you
should
tax
marijuana
more
and
fix
all
the
potholes
and
the
the
roads
that
have
been
in
disrepair
for
the
last
20
years.
It's
just
these
roads
are
disgraceful.
It's
like
a
third
world
country.
I'll
bet
you,
somalia,
has
better
roads
than
we
do
here
in
the
city
of
san
jose.
Secondly,
we
need
to
fix
the
rose
garden,
get
rid
of
the
graffiti.
This
is
pointed
at
dev
davis
that
she's
around
graffiti
on
the
garbage
cans,
not
enough
garbage
cans
and
the
fountain
is
broken
during
this
time.
K
When
it's
so
hot
you
go
to
the
road
garden
to
cool
off
and
the
fountain's
broken.
I
mean
this
is
third
world.
The
grass
of
the
rose
garden
needs
to
be
repaired,
as
does
the
sidewalks
around
there
that
have
that
are
raised,
sidewalks
that
you
can
trip
on
and
if
you
make,
residents
fix
the
sidewalks
in
front
of
their
house.
The
rose
garden
and
the
sidewalk
around
the
road
garden
should
be
absolutely
perfect.
K
Also,
the
the
street
lights,
the
green
street
lamps
are
are
not
green,
anymore.
They're
orange
brown
because
of
rust.
They
either
need
to
be
removed
or
repainted,
and
it's
a
disgrace.
It
looks
like
a
third-world
country
in
this
city,
and
people
are
worried
about
smoking.
Marijuana
wasn't
that
the
whole
idea
was
to
tax
marijuana
for
for
for
a
revenue
stream,
guess
what
it
should
be,
55
that
person
calling
up
isn't
doing
it,
because
it's
for
their
medical
care.
They
want
that
to
be
able
to
get
high
cheaper,
let
it
go
underground.