AC 03-27-2023 Searchable PacketCITY OF CUPERTINO
AUDIT COMMITTEE
AGENDA
10300 Torre Avenue, City Hall Conference Room A / Teleconference
Monday, March 27, 2023
4:00 PM
Regular Meeting
IN PERSON AND TELECONFERENCE / PUBLIC PARTICIPATION INFORMATION
Members of the public wishing comment on an item on the agenda may do so in the
following ways:
1) Appear in person at Cupertino City Hall. Members of the audience who address the
Committee must come to the lectern/microphone, and are requested to complete a Speaker
Card and identify themselves. Completion of Speaker Cards and identifying yourself is
voluntary and not required to attend the meeting or provide comments.
2) E-mail comments by 9:00 a.m. on Monday, March 27 to the Audit Committee at
AuditCommittee@cupertino.org. These e-mail comments will be received by the Audit
Committee members before the meeting and posted to the City’s website after the meeting.
3) Teleconferencing Instructions
Members of the public may observe the teleconference meeting or provide oral public
comments as follows:
Oral public comments will be accepted during the teleconference meeting. Comments may
be made during “oral communications” for matters not on the agenda, and during the
public comment period for each agenda item .
To address the Committee, click on the link below to register in advance and access the
meeting:
Online
Register in advance for this webinar:
https://cityofcupertino.zoom.us/webinar/register/WN_sQgNDPmySKSGu_ymzFaQGQ
Phone
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Audit Committee Agenda March 27, 2023
Dial: 669-900-6833 and enter Webinar ID: 973 1794 7299 (Type *9 to raise hand to speak, *6 to
unmute yourself). Unregistered participants will be called on by the last four digits of their
phone number.
Or an H.323/SIP room system:
H.323:
162.255.37.11 (US West)
Meeting ID: 973 1794 7299
SIP: 97317947299@zoomcrc.com
After registering, you will receive a confirmation email containing information about
joining the webinar.
Please read the following instructions carefully:
1. You can directly download the teleconference software or connect to the meeting in your
internet browser. If you are using your browser, make sure you are using a current and
up-to-date browser: Chrome 30+, Firefox 27+, Microsoft Edge 12+, Safari 7+. Certain
functionality may be disabled in older browsers, including Internet Explorer .
2. You will be asked to enter an email address and a name, followed by an email with
instructions on how to connect to the meeting. Your email address will not be disclosed to
the public. If you wish to make an oral public comment but do not wish to provide your
name, you may enter “Cupertino Resident” or similar designation.
3. When the Chair calls for the item on which you wish to speak, click on “raise hand.”
Speakers will be notified shortly before they are called to speak.
4. When called, please limit your remarks to the time allotted and the specific agenda topic .
5. Members of the public that wish to share a document must email
AuditCommittee@cupertino.org prior to speaking.
ROLL CALL
ORDERS OF THE DAY
APPROVAL OF MINUTES
1.Subject: Approve Minutes of Regular Meeting on February 27, 2023
Recommended Action: Approve Minutes of Regular Meeting on February 27, 2023
A - Draft Minutes
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Audit Committee Agenda March 27, 2023
POSTPONEMENTS
ORAL COMMUNICATIONS
This portion of the meeting is reserved for persons wishing to address the Committee on any matter
within the jurisdiction of the Committee and not on the agenda. Speakers are limited to three (3)
minutes. In most cases, State law will prohibit the Commission from making any decisions with respect
to a matter not on the agenda.
OLD BUSINESS
NEW BUSINESS
2.Subject: ACTION ITEM Consider the FY 2021-22 Annual Comprehensive Financial
Report (ACFR) and Supplemental Reports
Recommended Action: Receive the FY 2021-22 ACFR and Supplemental Reports and
forward to City Council
Presenter: Crowe
4:15(40)
A - Cupertino ACFR Draft 2022
B - Cupertino ML Draft 2022
C - Cupertino SAS 114 Draft 2022
D - Cupertino Single Audit Draft 2022
E - Cupertino GANN AUP Draft 2022
F - Cupertino Investment AUP Draft 2022
G - Cupertino Storm Drain AUP Draft 2022
3.Subject: ACTION ITEM Consider the Monthly Treasurer's Investment Report for
February 2023
Recommended Action: Receive the Monthly Treasurer's Investment Report for
February 2023 and recommend filing with City Council
Presenter: Thomas Leung, Budget Manager, and Chandler Asset Management
4:55(20)
Staff Report
A – Chandler Investment Report February 2023
B – Chandler Custodial Statement February 2023
C – PARS Pension and OPEB Account Statement February 2023
D – LAIF Account Statement February 2023
4.Subject: ACTION ITEM Consider the Monthly Treasurer's Report for February 2023
Recommended Action: Receive the Monthly Treasurer's Report for February 2023 and
recommend filing with City Council
Presenter: Thomas Leung, Budget Manager
5:15(10)
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Audit Committee Agenda March 27, 2023
Staff Report
A – Report of City-wide Receipts, Disbursements, and Cash Balances February 2023
B – Report of City-wide Fund BalancesNet Position February 2023
C – Weekly Payment Register for the Period Ending February 3, 2023
D – Weekly Payment Register for the Period Ending February 10, 2023
E – Weekly Payment Register for the Period Ending February 17, 2023
F – Weekly Payment Register for the Period Ending February 24, 2023
G – Weekly Payment Register for the Period Ending March 3, 2023
5.Subject: INFORMATIONAL ITEM Consider a Budget Format Review Update
Recommended Action: Receive a Budget Format Review Update
Presenter: Thomas Leung, Budget Manager
5:25(10)
6.Subject: INFORMATIONAL ITEM Consider the Audit Committee 2023 Schedule and
Work Plan
Recommended Action: Receive the Audit Committee 2023 Schedule and Work Plan
and provide direction to staff
Presenter: Thomas Leung, Budget Manager
5:35(10)
A - Proposed Audit Committee 2023 Schedule and Work Plan
STAFF AND COMMITTEE REPORTS
COMMITTEEMEMBER ATTENDANCE AT UPCOMING MEETINGS AND EVENTS
FUTURE AGENDA SETTING
ADJOURNMENT
In compliance with the Americans with Disabilities Act (ADA), anyone who is planning to attend this
meeting who is visually or hearing impaired or has any disability that needs special assistance should
call the City Clerk's Office at 408-777-3223, at least 48 hours in advance of the meeting to arrange for
assistance. In addition, upon request, in advance, by a person with a disability, meeting agendas and
writings distributed for the meeting that are public records will be made available in the appropriate
alternative format.
Any writings or documents provided to a majority of the members after publication of the agenda will
be made available for public inspection. Please contact the City Clerk’s Office in City Hall located at
10300 Torre Avenue, Cupertino, California 95014, during normal business hours.
IMPORTANT NOTICE: Please be advised that pursuant to Cupertino Municipal Code section
2.08.100 written communications sent to the Cupertino City Council, Commissioners or City staff
concerning a matter on the agenda are included as supplemental material to the agendized item. These
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Audit Committee Agenda March 27, 2023
written communications are accessible to the public through the City’s website and kept in packet
archives. Do not include any personal or private information in written communications to the City
that you do not wish to make public, as written communications are considered public records and will
be made publicly available on the City website.
Members of the public are entitled to address the members concerning any item that is described in the
notice or agenda for this meeting, before or during consideration of that item. If you wish to address the
members on any other item not on the agenda, you may do so during the public comment .
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CITY OF CUPERTINO
Agenda Item
23-12173 Agenda Date: 3/27/2023
Agenda #: 1.
Subject:Approve Minutes of Regular Meeting on February 27, 2023
Approve Minutes of Regular Meeting on February 27, 2023
CITY OF CUPERTINO Printed on 3/23/2023Page 1 of 1
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City of Cupertino
Audit Committee Regular Meeting
Minutes
February 27, 2023
CALL TO ORDER
At 4:00 p.m., Vice Chair Chen called the regular meeting to order. This was a teleconference
meeting with no physical location.
ROLL CALL
Committee Members Present: Chair Angela Chen, Vice Chair Sheila Mohan, Committee member
J.R. Fruen, Committee member Laura Hammer (4:01p.m.), Committee member Sophie Song
(4:10p.m.)
City Staff Present: Kristina Alfaro, Pamela Wu, Matt Morley, Thomas Leung, Beth Viajar, Janet
Liang
Absent:
Guests: Carlos Oblites (Chandler), Colleen Rozillis (Moss Adams), Jessie Lenhardt (Moss Adams),
Tammy Lohr (Moss Adams)
ORDERS OF THE DAY
1. APPROVE MINUTES OF REGULAR MEETING ON JANUARY 23, 2022
Chair Chen requested that staff include the recommendation made during the meeting in the
minutes. Committee member Fruen then made a motion to approve the minutes with the
recommended amendments, which was seconded by Vice Chair Mohan. The motion carried 4-0
with Committee member Song absent.
POSTPONEMENTS
ORAL COMMUNICATIONS
OLD BUSINESS
NEW BUSINESS
2. Consider an Internal Audit Overview
Alfaro gave an introduction to the report, while Colleen and Lohr presented an overview. When
Chair Chen inquired about the process for implementing recommendations, Colleen explained
that once they have a draft report and recommendations, they review them with the City
Manager’s Office, relevant staff, and stakeholders to ensure their feasibility. In some cases,
management responses may be required, but if the recommendations are accepted, no
management response is necessary. Additionally, an implementation plan may be developed,
which was included in the procurement study. Council may direct management to create an
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implementation plan for other studies. Vice Chair Mohan requested further information about
the accomplishments, to which Colleen replied that quarterly updates and an annual report at
the end of each fiscal year are available. Alfaro added that the internal audit reports can be
accessed on the finance webpage under Internal Audit. No public comment.
3. Consider the Quarterly Internal Audit Status Report
Rozillis provided an overview of the report. Vice Chair Mohan inquired about the complaint
mentioned in the Fraud, Waste, and Abuse report and whether it would be disclosed. Lohr
explained that they prioritize confidentiality, and there are specific circumstances in which they
would disclose the nature of the report to the committee. Otherwise, they manage and resolve
the complaint without revealing its details to others. This process follows the triage outlined in
the program manual. Chair Chen asked when the draft report for the Library Construction Audit
would be available, and Rozillis replied that it would be presented at the next meeting.
Committee member Hammer asked whether issues would be highlighted in the column
designated for appropriate City Officials, and Lohr confirmed this. In such cases, they work with
city management to address the issue. No public comment.
4. Consider the Budget Process Review Final Report
Lenhardt presented an overview of the report, and Alfaro provided updates on the steps staff has
taken, such as drafting budget policies and launching the Budget Management folder on the
City's Intranet page. The City is also reviewing areas that did not meet GFOA standards and will
bring updates as part of budget format review. Alfaro also mentioned that staff is exploring an
ERP system that can provide a dashboard/high-level overview of the budget. Committee member
Fruen asked why timeliness did not rank as high as other factors in terms of satisfaction. Alfaro
explained that the quarterly reporting timeline is tight, and staff members are not solely dedicated
to budget tasks, with the exception of Leung. Vice Chair Mohan asked for clarification on why
the City needs to adopt a budget policy when the State already requires a balanced budget.
Lenhardt explained that it is an informal practice that GFOA recommends to support consistent
practices and to provide future individuals with a better understanding of the budget's full intent.
Lohr added that documenting the policy would outline the how and why behind consistent
practices as the State does not detail this information. Rozillis noted that policies are useful for
future reference. Committee member Hammer asked whether they reviewed the review process
or the budget process. Lenhardt clarified that they reviewed the process for developing the
budget, including budget submission and review, adjustments, and monitoring throughout the
fiscal year. Committee member Hammer moved to receive and forward the report to City
Council, which Committee member Fruen seconded. No public comment. The motion passed
unanimously with all members present.
5. Consider the Monthly Treasurer's Investment Report for January 2023
Leung and Oblites provided an overview of the report. Vice Chair Mohan asked if the investment
structure was comparable to other municipal clients. Oblites explained that the term structure
was specific to the City because a specific strategy was developed, but other governments might
have a similar structure based on liquidity needs and risk tolerance. Most of the asset classes were
similar to other local governments, but the City targets a longer average maturity and longer
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duration that generates higher returns in the long run. Oblites also noted that the portfolio was
designed to withstand unexpected shocks to the system and was diversified among some of the
safest security asset classes available to all investors globally. They actively do credit analysis on
anything that is not treasury or agency-related to minimize risk.
Chair Chen asked for the difference between book value and par value and which best reflects
the City's true level of assets. Oblites explained that the market value was the value that someone
was willing to pay for it today, while the book value was the value at which the assets were
carried today, reflecting premiums and discounts. He believed that the book value best reflected
the City's level of assets because it was what the City was carrying. If the portfolio was held to
maturity, the par value would be the best indication of what the City would receive.
Committee member Fruen motioned to recommend filing the report with City Council, and Vice
Chair Mohan seconded the motion. No public comment. The motion carried unanimously with
all members present.
6. Consider the Monthly Treasurer's Report for January 2023
Leung provided an overview of the report. Committee member Fruen motioned to recommend
filing the report with City Council, and Vice Chair Mohan seconded. No public comment. The
motion carried unanimously with all members present.
7. Consider the Audit Committee 2023 Schedule and Work Plan
Leung presented the committee's workplan and noted that the committee had recommended
transitioning to quarterly meetings. Leung further stated that the second reading of the ordinance
would take place in March, and as a result, starting from April, the Audit Committee meetings
would be held quarterly. Wu added that the ordinance would come into effect 30 days after the
second reading.
Chair Chen noted that Audit Committee would tentatively cancel the May 22 meeting.
STAFF AND COMMITTEE REPORTS
COMMITTEEMEMBER ATTENDANCE AT UPCOMING MEETINGS AND EVENTS
FUTURE AGENDA SETTING
ADJOURNMENT
The meeting adjourned at 5:54 p.m.
Recording Secretary:
Janet Liang, Administrative Assistant
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CITY OF CUPERTINO
Agenda Item
23-12174 Agenda Date: 3/27/2023
Agenda #: 2.
ACTION ITEM Subject: Consider the FY 2021-22 Annual Comprehensive Financial Report (ACFR)
and Supplemental Reports
Receive the FY 2021-22 ACFR and Supplemental Reports and forward to City Council
Presenter: Crowe
4:15(40)
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FISCAL YEAR
2021 - 2022
Annual Comprehensive
Financial Report
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CITY OF CUPERTINO, CALIFORNIA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE YEAR ENDED JUNE 30, 2022
Prepared by the City of Cupertino Administrative Services Department
Finance Division
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CITY OF CUPERTINO, CALIFORNIA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
For the year ended June 30, 2022
CONTENTS
INTRODUCTORY SECTION
TABLE OF CONTENTS ..................................................................................................................... i
LETTER OF TRANSMITTAL .............................................................................................................. iii
ORGANIZATION CHART ................................................................................................................... xi
CITY COUNCIL AND DIRECTORY OF CITY OFFICIALS ................................................................ xii
COMMISSIONS AND COMMITTEES ................................................................................................ xiii
CERTIFICATE OF ACHIEVEMENT FOR EXCELLENCE IN FINANCIAL REPORTING .................. xiv
FINANCIAL SECTION
INDEPENDENT AUDITOR'S REPORT .................................................................................................... 1
MANAGEMENT'S DISCUSSION AND ANALYSIS (UNAUDITED) .......................................................... 4
BASIC FINANCIAL STATEMENTS:
GOVERNMENT-WIDE FINANCIAL STATEMENTS:
STATEMENT OF NET POSITION ..................................................................................................... 25
STATEMENT OF ACTIVITIES ........................................................................................................... 26
FUND FINANCIAL STATEMENTS:
GOVERNMENTAL FUNDS:
BALANCE SHEET .............................................................................................................................. 28
RECONCILIATION OF GOVERNMENTAL FUNDS BALANCE SHEET TO
STATEMENT OF NET POSITION ................................................................................................... 29
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES ........................................................................................................................... 30
RECONCILIATION OF NET CHANGES IN FUND BALANCES —
GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES .............................................. 31
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES —
BUDGET AND ACTUAL — GENERAL FUND ................................................................................... 32
BUDGET AND ACTUAL — TRANSPORTATION SPECIAL REVENUE FUND ................................ 33
BUDGET AND ACTUAL — HOUSING DEVELOPMENT SPECIAL REVENUE FUND .................... 34
PROPRIETARY FUNDS:
STATEMENT OF NET POSITION ..................................................................................................... 36
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION ........................... 37
STATEMENT OF CASH FLOWS ....................................................................................................... 38
NOTES TO BASIC FINANCIAL STATEMENTS ....................................................................................... 39
REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED):
SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS .............. 72
SCHEDULE OF CONTRIBUTIONS — PENSION ............................................................................. 73
SCHEDULE OF CHANGES IN THE NET OPEB LIABILITY AND RELATED RATIOS ..................... 74
SCHEDULE OF CONTRIBUTIONS – OPEB ..................................................................................... 75
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CITY OF CUPERTINO, CALIFORNIA
ANNUAL COMPREHENSIVE FINANCIAL REPORT
For the year ended June 30, 2022
CONTENTS (Continued)
OTHER SUPPLEMENTARY INFORMATION:
SCHEDULE OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE —
BUDGET AND ACTUAL - PUBLIC FACILITIES CORPORATION DEBT SERVICE FUND .............. 77
NONMAJOR GOVERNMENTAL FUNDS:
COMBINING BALANCE SHEET ........................................................................................................ 79
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES .................................................................................................... 80
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES — BUDGET AND ACTUAL ....................................................... 81
NONMAJOR ENTERPRISE FUND:
COMBINING STATEMENT OF NET POSITION ............................................................................... 85
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION ......................................................................................................... 86
COMBINING STATEMENT OF CASH FLOWS ................................................................................. 87
INTERNAL SERVICE FUNDS:
COMBINING STATEMENT OF NET POSITION ............................................................................... 89
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION ......................................................................................................... 90
COMBINING STATEMENT OF CASH FLOWS ................................................................................. 91
STATISTICAL SECTION
FINANCIAL TRENDS:
NET POSITION/ASSETS BY COMPONENT — LAST TEN FISCAL YEARS ................................... 94
CHANGES IN NET POSITION/ASSETS — LAST TEN FISCAL YEARS.......................................... 95
FUND BALANCES OF GOVERNMENTAL FUNDS — LAST TEN FISCAL YEARS ......................... 97
CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS —
LAST TEN FISCAL YEARS .............................................................................................................. 98
REVENUE CAPACITY:
ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE
PROPERTY — LAST TEN FISCAL YEARS .................................................................................... 99
DIRECT AND OVERLAPPING PROPERTY TAX RATES — LAST TEN FISCAL YEARS ............... 100
PRINCIPAL PROPERTY TAXPAYERS — CURRENT YEAR AND TEN YEARS AGO .................... 101
PROPERTY TAX LEVIES AND COLLECTIONS — LAST TEN FISCAL YEARS ............................. 102
DEBT CAPACITY:
RATIOS OF OUTSTANDING DEBT BY TYPE — LAST TEN FISCAL YEARS ................................ 103
DIRECT AND OVERLAPPING BONDED DEBT ................................................................................ 104
LEGAL DEBT MARGIN INFORMATION — LAST TEN FISCAL YEARS .......................................... 105
RATIO OF GENERAL BONDED DEBT — LAST TEN FISCAL YEARS ........................................... 106
DEMOGRAPHIC AND ECONOMIC INFORMATION:
DEMOGRAPHIC AND ECONOMIC STATISTICS — LAST TEN FISCAL YEARS ........................... 107
2022 EMPLOYER RANKING ............................................................................................................. 108
OPERATING INFORMATION:
FULL-TIME EQUIVALENT CITY EMPLOYEES BY
FUNCTION/PROGRAM — LAST TEN FISCAL YEARS ................................................................. 109
OPERATING INDICATORS BY FUNCTION/PROGRAM — LAST TEN FISCAL YEARS ................ 110
CAPITAL ASSET STATISTICS BY FUNCTION/PROGRAM — LAST TEN FISCAL YEARS ........... 111
COMMUNITY PROFILE
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_________, 2022
To the Citizens of Cupertino, Honorable Mayor,
Members of the City Council, and City Manager
It is our pleasure to submit the Annual Comprehensive Financial Report (ACFR) for the City of Cupertino
(the City) for the fiscal year ended June 30, 2022. The report is prepared in accordance with generally
accepted accounting principles (GAAP) set by the Governmental Accounting Standards Board (GASB).
The report presents City information on an entity-wide basis and on a more detailed fund level basis. The
fund-level reports emphasize the City’s major funds. A Management Discussion and Analysis (MD&A)
presents a comparative analysis of current and prior year results, changes in financial position, a comparison
of actual versus budget, financial highlights, trends, and disclosure of any known significant events or
decisions that affect the financial condition of the City. This transmittal letter is designed to complement
the MD&A and should therefore be read in conjunction with it. The MD&A is required supplementary
information and is found in the Financial Section of the ACFR.
The accuracy of the data presented and the completeness and fairness of the presentations, including all
disclosures, are the responsibility of the management of the City. To provide a reasonable basis for making
these representations, management has established a comprehensive internal control framework that is
designed to protect the City’s assets and provide sufficient, reliable information for the proper preparation
of these financial statements. We believe the data is accurate in all material respects and is presented in a
manner that fairly sets forth the City’s financial position. Furthermore, we believe that all disclosures
necessary to enable the reader to gain an understanding of the City’s financial activity have been included.
REPORTING ENTITY
This ACFR includes all component units and funds of the City. It reports all activities for which the City is
considered to be financially accountable. The general governmental funds support a full range of services,
including law enforcement, community development, recreation, public works, public and environmental
affairs, and general administration. Enterprise funds account for recreation and solid waste operations
supported by user fees. This financial report incorporates data for the City of Cupertino and its component
unit, the Cupertino Public Facilities Corporation.
The City operates under a Council-City Manager form of government. There are five council members,
including the Mayor, who serve staggered four-year terms. The City Council appoints the City Manager
who is responsible for the daily administration of City affairs. The City Council also appoints the City
Attorney and the City Treasurer. All other employees are appointed by the City Manager.
CITY OF CUPERTINO
CITY HALL
10300 TORRE AVENUE • CUPERTINO, CA 95014-3202
(408) 777-CITY • WWW.CUPERTINO.ORG
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ECONOMIC CONDITIONS
The City of Cupertino is located in Santa Clara County at the southern end of the San Francisco Bay
Peninsula. The City is comprised of 13-square miles and is bordered by the cities of San Jose, Saratoga,
Sunnyvale, Santa Clara, and Los Altos. It has a residential population of 66,274.
Situated at the west end of Silicon Valley, Cupertino has earned the reputation of a balanced community
with a healthy climate for business and well-maintained residential neighborhoods, community parks and
public facilities. The excellent reputation of Cupertino’s schools is a major attraction for families wishing
to settle in close proximity to high paying jobs in Silicon Valley. The City recognizes the importance of
quality school facilities and programs to all Cupertino residents, and works in partnership with the schools
in many programs affecting education and youth. National surveys rank the City high in education levels,
average household incomes, and registered patent numbers, as well as one of the best cities in which to live
and raise a family.
Because Cupertino is a mature, 93% built-out city, the City of Cupertino focuses on business retention and
revitalization. Cupertino is world renowned as the home of high-tech giants, such as Apple, Inc., and as a
community with stellar public schools. De Anza College, one of the largest single-campus community
colleges in the country, is another major employer and a magnet for attracting local and international
students. The City’s proactive economic development efforts have resulted in an innovative environment
for start-ups and growing companies to thrive. The City strives to retain and attract local companies through
active outreach and a responsive and customer-oriented entitlement process.
Cupertino is excited to have a number of new mixed-use development projects offering more retail and
dining options, as well as provide additional housing opportunities to meet the needs of the growing
community.
The Main Street and Nineteen800 mixed-use developments continues to offer a vibrant downtown area for
Cupertino, with a large selection of restaurants and retailers, including Alexander’s Steakhouse, Eureka!,
Oren’s Hummus, Lazy Dog, Ippudo, HaiDiLao Hot Pot Restaurant, Pressed Juicery, Orangetheory, 85
Degree Bakery, Somi Somi, Sul & Beans, Kura Sushi, Vitality Bowls, Doppio Zero, Boiling Point and Jin
Tea, Koja Kitchen, Bishops Cuts & Colors, Capezio, Howard’s Shoes, Tan Cha, Meet Fresh, Pineapple
Thai, Koi Palace, Myungrang Hot Dog, Pacific Catch, Pasta Armellino, Philz Coffee, Pelicana Chicken,
Golden Vision Optical, Meri West Bank, AT&T Store, The Original Face Bar, Orange Theory, Pizza My
Heart, Ameritrade, and Bon Mot Resturant. Housing, office, and a Residence Inn by Marriott and Main
Street Cupertino Lofts are available to support the thriving area. Benihana, Bowlmor, and Ice Center
Cupertino also serve as long-time anchors.
The limited construction of new retail and commercial development results in strengthening existing
popular venues in Cupertino, including The Marketplace. The Marketplace has a variety of stores and
restaurants popular with students, families, and working professionals. They include Galpao Gaucho, Daiso,
Marukai Groceries, Harumi Sushi, La Patisserie Bakery, Beard Papa’s, Legend’s Pizza, Icicles, Kong’s
Tofu & BBQ, One Pot Shabu Shabu, and Olarn Thai.
Cupertino Village is undergoing renovations to upgrade existing buildings, construct new buildings,
parking, and open-courtyard space. The shopping center is home to 99 Ranch Market, Duke of Edinburgh
Pub & Restaurant, Chung Chou, Ume Tea, Tofu Plus, Kira Kira Beauty, MOD Pizza, Ten Ren Tea, Fantasia
Coffee & Tea, Yoga Wave, Happy Lemon, Kee Wah Bakery, and many other Asian restaurants, bakeries,
and shops.
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Cupertino features many other retail opportunities, including TJ Maxx and Home Goods, Whole Foods,
Target, Party City, and over 180 restaurants to serve residents and the local workforce. There are now seven
hotels providing over 1,000 rooms, to serve the area: The Aloft Cupertino, Cupertino Hotel, Hilton Garden
Inn, Juniper Hotel operated by Curio, Marriott Courtyard, the Residence Inn by Marriott, and the newest
addition is the Hyatt House.
The Homestead Square Shopping Center, located at Homestead Road and De Anza Boulevard, includes a
24-hour Safeway, Ulta Beauty, Ross Stores, Stein Mart, Pet Club, Michael’s, Rite Aid, FedEx, and
numerous restaurants, such as Fish’s Wild, Pho Hoa Noodle Soup, Yayoi Teishoku Japanese Restaurant,
Starbucks, and Chipotle.
Apple completed construction of its new corporate campus, Apple Park, which includes approximately 2.8
million square feet of office and R&D space north of Highway 280 between Wolfe Road and Tantau
Avenue. A state-of-the-art Visitors Center, Observation Deck, flagship retail store and café are open to the
public seven days a week.
According to the 2021-2022 Assessor’s Annual Report for Santa Clara County, Cupertino’s net assessment
roll growth increased by nearly $986.4 million, or 3.5%, from the prior year. Residential use values
increased 4.9% a total of $829.9 million and represented 84% of all growth experienced in the City.
Commercial properties posted an increase of $572.8 million, or 7.6%, due to the movement of assets from
the unsecured to the secure roll. The industrial properties reported growth of $267 million, or 30.8%, on
the strength of parcels adding improvement values between tax years or tenants at these sites adding fixtures
and business assets. Unsecured assets in Cupertino decreased by $699.7 million, or 28.9% due to the
movement of assets from the unsecured to the secured roll, which contributed to the large growth seen in
the commercial use category.
The City’s sales tax revenues are generated from five principal economic categories: business-to-business
65% (includes electronic equipment and software manufacturers and distributors), state and county pools
20%, restaurants and hotels 6%, general retail 4%, and fuel and service stations and other 6%.
Our two largest sales taxpayers in the business-to-business category represent a large part of that sector and
therefore can significantly affect sales tax trends. Due to taxpayer confidentiality constraints, the City is
unable to disclose the amounts of sales tax reported for these businesses. The top taxpayers’ corporate and
business technology spending has driven growth in this sector. Sales tax activity has increased across most
sectors with a decrease primarily in construction. This decrease is attributed to the winding down of
construction projects in the City, particularly, the Apple Park campus development. Given these trends, the
City’s sales tax revenue is projected to show a more modest increase going forward.
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Continued economic growth driven primarily by the business to business sector continued through FY
2014-15 until a slight $400,000 decline in FY 2015-16 due to a one-time clean up payment from the
previous year received in FY 2016-17. FY 2016-17 increased significantly with a $3.5 million “triple-flip”
close-out payment. There was a modest decrease in FY 2017-18 which was again attributable to the one-
time “triple-flip” close-out payment from FY 2016-17 that was not received in FY 2017-18. Despite the
fluctuation, the sales tax base experienced strong growth. FY 2018-19 experienced a slight decrease due to
the tapering of localized sales tax dollars from construction and completion of Apple Campus 2 which
further indicates a return to normalcy in respect to previous years. Additionally, the City received a one-
time quarterly clean-up payment in FY 2017-18 of $1.6 million that contributed to the comparative decrease
in FY 2018-19. In FY 2019-20, the City’s sales taxes experienced growth due to a one-time double payment
from Apple. Additionally, a change in estimate in which the City adjusted its accrual practice to include the
full remittance amounts from July and August 2020 contributed to approximately $9.0 of the increase over
the previous fiscal year. This change in estimate will be applied prospectively and consistently moving
forward. Though much uncertainty remains during the course of the pandemic, the City has seen positive
sales tax trends into FY 2020-21 due to the telework transition and the state-wide need for additional
electronic equipment and infrastructure, and the Wayfair decision.
With the economic recovery and easing of credit, commercial development activity picked up considerably
in 2012-13 and 2013-14 led by plan reviews of the new Apple Campus 2. Plans for the redevelopment of
the Marina shopping center into a mixed-use project, Marina Plaza, was approved in 2016. This project will
include 23,000 sq. ft. of retail and restaurant use, a 122-room boutique hotel, and 188 residential units
including 16 below market rate units. Construction of a five story, 148-room Hyatt House hotel was
completed in April 2019 and includes a full-service restaurant and meeting rooms. Through the City’s new
General Plan Amendment (GPA) Authorization Process applications for two development projects were
authorized by City Council during FY 2019-20 with the De Anza Hotel and the Cupertino Village Hotel.
The City’s pension and retiree medical (also referred to as OPEB, Other Post-Employment Benefits)
unfunded actuarial accrued liabilities are discussed in the Notes to the Basic Financial Statements. The City
must pay CalPERS, the state’s government pension system, annually to reduce its long-term liability for
pensions. Cupertino’s CalPERS actuarial valuation report as of June 30, 2021 reported a pension unfunded
accrued liability of $41.3 million with annual payments to CalPERS of 32.8% and 32.2% of projected
payroll for 2023-24 and 2024-25, respectively, with ongoing decreases after that. CalPERS recently
experienced strong performance in FY 2020-21 with a return of 21.3% that ultimately triggered a reduction
in the discount rate from 7% to 6.8%. To address long-term rising costs, Cupertino and state law has reduced
pension benefits for new hires and increased employee contributions. As of the June 30, 2022, the City has
$-
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Sales Tax ($ in millions)
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a Net OPEB Liability of $(1.5) million with annual payments to a retiree health plan trust at -6.1% of
payroll. The negative percentage of payroll further represents an over-funded status.
In addition to the City’s Section 115 OPEB Investment Trust established in 2010, in FY 2017-18, the City
Council approved the establishment of a Section 115 trust as part of a pension rate stabilization program.
An initial investment of $8 million was made in FY 2018-19, with additional contributions of $4 million in
FY 2019-20, $2 million in FY 2020-21, and $2 million in FY 2021-22.
Because the City contracts out police services to the County Sheriff and because fire protection is handled
by a special district, the City avoids the high pension, capital, and operating costs of a City-operated public
safety function. The City caps its contributions to employee health insurance premiums that benefit both
the City and employees. A build-up of operating reserves from strong revenue years, such as 2013-14, along
with a traditional under-spending of budgets, enables the City to withstand weak revenue years that occur
periodically, such as in FY 2009-10.
On March 11, 2021, the American Rescue Plan Act (ARP) of 2021 was signed into law and established the
Coronavirus State Recovery Fund and Coronavirus Local Fiscal Recovery Funds, which together make up
the Coronavirus State and Local Fiscal Recover Funds (“SLFRF”).
The ARP is a $1.9 trillion economic stimulus bill. Within the ARP, the Coronavirus Local Fiscal Recovery
Fund provided $350 billion for states, municipalities, counties, tribes, and territories, including $130 billion
for local governments split evenly between municipalities and counties. California cities are expected to
receive more than $7 billion dollars in much needed assistance to help offset the billions of dollars in
revenue shortfalls due to the shutdown of local economies and the billions spent protecting public health,
delivering essential services, protecting vulnerable populations, and helping small businesses survive
during the pandemic.
The City of Cupertino is expected to receive two payments totaling $9,694,773 in SLFRF funding. The first
payment was received in May 2021 in the amount of $4,847,386.50 and the second payment was received
in May 2022. The City may use SLFRF funds to cover these eligible costs incurred during the period that
begins on March 3, 2021 and ends on December 31, 2024, as long as the award funds for the obligations
incurred by December 31, 2024 are spent by December 31, 2026.
As a recipient of the SLFRF award, the City has substantial discretion to use the award funds in the ways
that best suit the needs of the City’s constituents – as long as such use fits into one of the following four
statutory categories determined by the U.S. Department of the Treasury:
Public Health/Negative Economic Impacts: Recipients may use SLFRF award funds to provide
assistance to households – such as rent, mortgage, or utility assistance – for costs incurred by the
household prior to March 3, 2021, provided that the City did not incur the cost of providing such
assistance prior to March 3, 2021.
Premium Pay: Recipients may provide premium pay retrospectively for work performed at any
time since the start of the COVID-19 public health emergency. Such premium pay must be “in addition
to” wages and remuneration already received and the obligation to provide such pay must not have been
incurred by the recipient prior to March 3, 2021.
Revenue Loss: Treasury’s Final Rule gives recipients broad latitude to use funds for the provision
of government services to the extent of reduction in revenue. While calculation of loss revenue begins
with the recipient’s revenue in the last full fiscal year prior to the COVID-19 public health emergency
and includes the 12-month period ending December 31, 2020, use of funds for government services
must be forward looking for costs incurred by the recipient after March 3, 2021.
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Investments in Water, Sewer, and Broadband: Recipients may use SLFRF award funds to make
necessary investments in water, sewer, and broadband. Recipients may use SLFRF award funds to
cover costs incurred for eligible projects planned or started prior to March 3, 2021, provided that the
project costs covered by the SLFRF award funds were incurred after March 3, 2021.
On September 7, 2021, the Cupertino City Council approved a plan which allocated the ARP funding
towards revenue loss which was estimated at approximately $29 million. Additionally, the $9.7 million in
total ARP funding was approved to be spent on general government services in the General Fund,
specifically, City Work Program and special project items. Subsequently, and in accordance with the
Treasury’s Final Rule, a $10 million “standard allowance” may be taken which would relieve a
jurisdiction’s substantiation of revenue loss. Nevertheless, the City plans to continue using the ARP funding
as originally authorized and will continue to monitor and report out on the estimated and actual revenue
losses resulting from the pandemic.
ECONOMIC INITIATIVES
With the expanded Apple presence, the City’s revenue base will remain concentrated among its top
companies and top economic sector, the volatile business-to-business area. Past recessions and the historic
departure of a major tax provider, Hewlett-Packard, demonstrates the need for diversification of the City’s
revenue base and a long-term balance of revenues and expenditures. The City desires other revenues to
mitigate the fluctuating nature of sales taxes, hotel taxes, user fees, and state grabs of local taxes in times
of budget distress.
COVID-19 has had significant adverse impacts on the City’s transient occupancy taxes, charges for
services, and is sure to have long-lasting impacts on its sales tax. While the City’s revenues remained strong
in FY 2019-20 and are currently on pace with projections in FY 2020-21, the City’s strong, untapped
reserves afford the City to continue actively mitigating the impacts of the pandemic on the community.
Efforts to reduce operating costs, additional allocations for tenants at risk of eviction and homeless
assistance, public facility and area sanitation enhancements, and small business grant assistance are all
examples in FY 2019-20 and FY 2020-21 of the City’s on-going ability and commitment to overcome these
challenges.
ACCOUNTING AND BUDGETARY CONTROL
In developing and evaluating the City’s accounting system, consideration is given to the adequacy of
internal accounting controls. The City’s controls are designed to provide reasonable, but not absolute,
assurance regarding the safeguarding of assets against losses from unauthorized use or disposition and the
reliability of financial records for preparing financial statements and maintaining accountability of assets.
The concept of reasonable assurance recognizes that the costs of a control should not exceed the benefits
likely to be derived and that the evaluation of costs and benefits requires estimates and judgments by
management.
The City’s budget is a detailed operating plan that identifies estimated costs and results in relation to
estimated revenues. The budget includes 1) the programs, projects, services and activities to be provided
during the fiscal year; 2) estimated revenue and fund balance available to finance the operating plan; and
3) the estimated spending requirements of the operating plan. The budget represents a process through
which policy decisions are made, implemented and controlled.
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ix.
INDEPENDENT AUDIT
City ordinance requires an annual audit of the financial records by an independent certified public
accounting firm selected by the City Council and its audit committee. Crowe LLP audited the City’s Basic
Financial Statements, and their opinion thereon is included in the Financial Section of this report.
FRAUD INVESTIGATION
On September 5, 2018 the Santa Clara County Sheriff’s Office arrested former City of Cupertino employee
Jennifer “Yuen-Cheng” Chang, Senior Accountant, for her role in the embezzlement of public funds. It is
believed that Ms. Chang issued and cashed numerous fraudulent checks between 2000 and 2014 for a total
of $791,494.
The scheme ended in September 2014 right before the implementation of an upgraded financial system in
December 2014 that tightened internal controls. Ms. Chang, who was hired by the City in 1997, retired in
July 2015.
The checks were uncovered early 2018 by staff during a multi-year, detailed review of several accounts—
including payroll, bank reconciliations, and deposits—which began after the implementation of the new
financial system in fiscal year 2014-2015. The checks were found debited against a liability account and
deemed suspicious due to their nature, size, and lack of supporting documentation.
In 2018, the Santa Clara County Sheriff’s Office submitted its case to the Santa Clara County District
Attorney’s Office for the issuance of a warrant for Ms. Chang. The California Attorney General brought
forward 68 criminal charges against Ms. Chang. The City of Cupertino is seeking full restitution from Ms.
Chang through upcoming criminal and civil proceedings.
At the Preliminary Hearing on December 10, 2019, Judge Pennypacker ruled that Ms. Chang will have to
stand trial on 53 felony counts. The counts include Grand Theft and Computer Intrusion for the period
September 28, 2000 to September 5, 2014, and Embezzlement for the period July 22, 2011 to September 5,
2014. Because Ms. Chang’s bank does not save documents from prior to 2011, the State cannot prove an
element of the crime of embezzlement prior to this time.
Ms. Chang was criminally prosecuted and plead guilty to three felony counts in December 2021. On January
31, 2022, Ms. Chang paid $612,000 in criminal restitution to the City of Cupertino. The City has separately
pursued civil remedies against Ms. Chang to recover damages that were not available through criminal
restitution for the entire amount embezzled ($791,494), interest, and investigation costs.
Among other internal controls maintained by the City over its financial records, in addition to the upgraded
financial system in December 2014 that tightened internal controls, the City also hired additional accounting
staff to enhance segregation of duties as well as internal audit function that has been approved for
implementation in fiscal year 2019-20. Lastly, the City has engaged Moss Adams, LLP to serve as its
internal auditor.
CERTIFICATE OF ACHIEVEMENT
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a
Certificate of Achievement for Excellence in Financial Reporting to the City of Cupertino for its ACFR for
the year ended June 30, 2020. In order to be awarded a Certificate of Achievement, a government unit must
publish an easily readable and efficiently organized ACFR. This report must satisfy both GAAP and
applicable legal requirements.
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x.
A Certificate of Achievement is valid for a period of one year only. We believe that the current report
continues to meet the Certificate of Achievement Program’s requirements.
ACKNOWLEDGMENTS
I would like to express my appreciation to City employees, department heads, the City Manager, members
of the Audit Committee, and members of City Council for their interest in conducting the financial
operations of the City in a responsible manner. Special thanks go to, Thomas Leung, Zeng Wang, Min
Zhao, Jumaini Judoprasetijo, Vi Tran, and Amber Chang of the Finance staff for their continued support
and dedication. Special recognition to Beth Viajar, Richard Wong, Giang Dinh, and Janet Liang for their
efforts in the preparation and production of this report.
Reviewed by,
Kristina Alfaro
Director of Administrative Services
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Citizens of
Cupertino
City Council
Committees and
Commissions
City Attorney City Manager City Treasurer
City Clerk Public Affairs Sustainability
Programs
Law Enforcement
(Santa Clara County
Sherriff – Contract)
Administrative
Services
Community
Development
Recreation and
Community Services Public Works
Innovation &
Technology
Code Enforcement
Finance Building Recreation &
Education
Capital Improvement
Program Transportation GIS Infrastructure
Human Resources Planning Sports, Safety &
Outdoor Recreation
Development
Services
Environmental
Programs Video Applications
Economic
Development
Business &
Community Services Service Center
Code Enforcement
(Zoning & Building)
Grounds Streets Trees & ROW Facilities & Fleet
Housing
xi.23
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Directory of City Officials
City Council
Darcy Paul Liang Chao
Mayor Vice Mayor
Kitty Moore Jon Willey
Council Member Council Member
Hung Wei
Council Member
Directory of City Officials
Jim Throop – City Manager
Dianne Thompson – Assistant City Manager
Christopher Jensen – City Attorney
Kristina Alfaro – Director of Administrative Services
Ben Fu – Director of Community Development
Matt Morley – Director of Public Works
Joanne Magrini – Director of Parks and Recreation
Bill Mitchell – Chief Technology Officer
xii.
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Commissions and Committees
AUDIT COMMITTEE
Angela Chen
Yan (Sophie) Song
Darcy Paul
Kitty Moore
Laura Hammer
BICYCLE PEDESTRIAN
COMMISSION
Gerhard Eschelbeck
Grace John
Erik Lindskog
Jack Carter
Ilango Ganga
DESIGN REVIEW COMMITTEE
Muni Madhdhipatla
Sanjiv Kapil
R Wang
ENVIRONMENTAL REVIEW
COMMITTEE
Kitty Moore
Matt Morley
Ben Fu
Dianne Thompson
Steven Scharf
Darcy Paul
Muni Madhdhipatla
ECONOMIC DEVELOPMENT
COMMITTEE
Darcy Paul
Kevin McClelland
Hung Wei
Mike Rohde
Rod Diridon Jr.
Alan Takahashi
Roslyn Donald
Angela Tsui
Ben Fu
Anjali Kausar
Roger Lee
FINE ARTS COMMISSION
Carol Maa
Janki Chokshi
Satish Tare
Esha Rao
Sudha Kasamsetty
HOUSING COMMISSION
Govind Tatachari
Tessa Parish
Sue Bose
Connie Cunningham
Angan Das
LEGISLATIVE REVIEW
COMMITTEE
Liang Chao
Kitty Moore
LIBRARY COMMISSION
Archana Panda
Liyan Zhao
Sheela Sreekanth
Qin Pan
Rahul Vasanth
PARKS AND RECREATION
COMMISSION
Carol Stanek
Xiangchen "Minna" Xu
Gopal Kumarappan
Seema Swamy
Sashikala Begur
PLANNING COMMISSION
R "Ray" Wang
Vikram Saxena
Sanjiv Kapil
Muni Madhdhipatla
Steven Scharf
PUBLIC SAFETY COMMISSION
Eric Shan
Hymanand Nellore
Lakshminarasimha Ankireddipally
Tiffany Wang
Bobby Toda
SUSTAINABILITY
COMMISSION
Anna Weber
Sonali Padgaonkar
Meera Ramanathan
Steve Poon
Vignesh Swaminathan
TEEN COMMISSION
Rachael Ding
Geethikaa Tarra
Andrew Qin
Maple Leung
Zehra Naqvi
Dhruti Halambi
Elspeth Luu
Alex Zhang
Adhya Kasamsetty
TECHNOLOGY, INFORMATION
& COMMUNICATIONS
COMMISSION
Eliza Du
Mukesh Garg
Naidu Bollineni
Rajaram Soundararajan
Prabir Mohanty
xiii.
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Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Cupertino
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2020
Executive Director/CEO
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(Continued)
1.
INDEPENDENT AUDITOR'S REPORT
To the Honorable Mayor and City Council
City of Cupertino, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type
activities, each major fund, and the aggregate remaining fund information of the City of Cupertino, California
(City) as of and for the year ended June 30, 2022, and the related notes to the financial statements, which
collectively comprise the City’s basic financial statements as listed in the table of contents.
In our opinion, the accompanying financial statements referred to above present fairly, in all material
respects, the respective financial position of the governmental activities, the business-type activities, each
major fund, and the aggregate remaining fund information of the City, as of June 30, 2022, and the
respective changes in financial position and, where applicable, cash flows thereof and the respective
budgetary comparison for the General Fund, the Transportation Special Revenue Fund, and the Housing
Development Special Revenue Fund for the year then ended in accordance with accounting principles
generally accepted in the United States of America.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing
Standards (Government Auditing Standards), issued by the Comptroller General of the United States. Our
responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of
the Financial Statements section of our report. We are required to be independent of the City, and to meet
our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinions.
Emphasis of Matter
As discussed in Note 1 to the financial statements, in 2022, the City adopted new accounting guidance in
the form of the provisions of GASB Statement No. 87, Leases. Our opinions are not modified with respect
to this matter.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with accounting principles generally accepted in the United States of America, and for the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or error.
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(Continued)
2.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a
going concern for twelve months beyond the financial statement date, including any currently known
information that may raise substantial doubt shortly thereafter.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes
our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and
therefore is not a guarantee that an audit conducted in accordance with GAAS and Government Auditing
Standards will always detect a material misstatement when it exists. The risk of not detecting a material
misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are
considered material if there is a substantial likelihood that, individually or in the aggregate, they would
influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
include examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the City’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate,
that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable
period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control-related matters
that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis, and the required supplementary information section on pages 4-21 and 77-81 be
presented to supplement the basic financial statements. Such information, although not a part of the basic
financial statements, is required by Governmental Accounting Standards Board who considers it to be an
essential part of financial reporting for placing the basic financial statements in an appropriate operational,
economic, or historical context. We have applied certain limited procedures to the required supplementary
information in accordance with auditing standards generally accepted in the United States of America,
which consisted of inquiries of management about the methods of preparing the information and comparing
the information for consistency with management’s responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements. We do not
express an opinion or provide any assurance on the information because the limited procedures do not
provide us with sufficient evidence to express an opinion or provide any assurance.
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3.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City’s basic financial statements. The other supplementary information section is presented
for purposes of additional analysis and is not a required part of the basic financial statements. Such
information is the responsibility of management and was derived from and relates directly to the underlying
accounting and other records used to prepare the basic financial statements. The information has been
subjected to the auditing procedures applied in the audit of the basic financial statements and certain
additional procedures, including comparing and reconciling such information directly to the underlying
accounting and other records used to prepare the basic financial statements or to the basic financial
statements themselves, and other additional procedures in accordance with auditing standards generally
accepted in the United States of America. In our opinion, the other supplementary information section is
fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Information
Management is responsible for the other information included in the annual report. The other information
comprises the introductory section, statistical section and community profile but does not include the basic
financial statements and our auditor’s report thereon. Our opinions on the basic financial statements do
not cover the other information, and we do not express an opinion or provide any assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other
information and consider whether a material inconsistency exists between the other information and the
basic financial statements, or the other information otherwise appears to be materially misstated. If, based
on the work performed, we conclude that an uncorrected material misstatement of the other information
exists, we are required to describe it in our report.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March xx, 2023
on our consideration of the City’s internal control over financial reporting and on our tests of its compliance
with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The
purpose of that report is to describe the scope of our testing of internal control over financial reporting and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s
internal control over financial reporting or on compliance. That report is an integral part of an audit
performed in accordance with Government Auditing Standards in considering the City’s internal control over
financial reporting and compliance.
Crowe LLP
Costa Mesa, California
March xx, 2023
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CITY OF CUPERTINO
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2022
4
This section describes the City of Cupertino’s financial performance for the year. Readers are
encouraged to consider the following information in conjunction with the accompanying Transmittal
Letter and Basic Financial Statements.
2021-22 FINANCIAL HIGHLIGHTS
The COVID-19 pandemic, and the ensuing lockdowns, has negatively affected economies not only
in the region, but around the world. Sales tax, transient occupancy tax, and charges for services were
both positively and negatively impacted as explained further below. However, while much
uncertainty remains regarding the length and magnitude of these impacts, the City stands well
positioned with robust fund balance reserves that have been bolstered by strong sales tax
performance, federal funding from the American Rescue Plan Act of 2021, and budget reduction
strategies.
The assets and deferred outflows of resources of the City exceeded its liabilities and deferred inflows
of resources at the close of the fiscal year 2021-22 by $369.0 million (net position). Of this amount,
$104.9 million represents unrestricted net position, which may be used to meet the City’s ongoing
obligations to citizens and creditors.
City revenues have increased in 2021-2022 with base governmental revenues showing a $4.0 million
increase, or 3%, over 2020-2021. The primary fluctuations include an increase in property and sales
tax and program revenues that are offset by decreases in transient occupancy tax and charges for
services. According to the 2021-2022 Assessor’s Annual Report for Santa Clara County, Cupertino’s
net assessment roll growth increased $986 million, or 3.55%, from the prior year
Residential use values increased 4.9% a total of $829.9 million and represented 84% of all growth
experienced in the City. Commercial properties posted an increase of $572.8 million, or 7.6%, due
to the movement of assets from the unsecured to the secure roll. The industrial properties reported
growth of $267 million, or 30.8%, on the strength of parcels adding improvement values between
tax years or tenants at these sites adding fixtures and business assets. Unsecured assets in Cupertino
decreased by $699.7 million, or 28.9% due to the movement of assets from the unsecured to the
secured roll, which contributed to the large growth seen in the commercial use category.
The City experienced an increase of approximately $1.1 million, or 3% in FY 2021-22 sales tax
revenues compared to the previous year. Although the City experienced declines in many of the
sectors including autos and transportation, building and construction, fuel and service stations,
general consumer goods, and restaurants and hotels over the last two year, these experiences were
mitigated by strong performance in the business and industry sector and the City’s county pool
allocation. The COVID-19 pandemic has brought great uncertainty to the economy and although the
business and industry sector has experienced significant growth due to the telework conversion and
closure of brick-and-mortar retail, the City continues to monitor and forecast these sectors
conservatively. COVID-19 and shelter-in-place orders brought the City’s transient occupancy taxes
to a near halt beginning in March of 2020. Inspite of uncertainty, the result to the City’s was a $2.3M
increased or 106% over the previous fiscal year.
The City continued to make substantial investment into capital projects dedicated to street and
transportation improvements, storm drain improvements, and maintenance of and improvements to
City facilities, resulting in an increase in net capital assets of $4.7 million, or 2.2%, after depreciation. The City’s change in net position was $34.6 million for governmental activities reflecting the
continued positive experience in sales tax and modest departmental spending.
The City’s Net Pension Liability for June 30, 2022, was $34.1 million, decreased by $14.5 million
from June 30, 2022, or 30%. The Plan Fiduciary Net Position as a Percentage of the Total Pension
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Liability for the City’s pension plan with CalPERS increased to 78.9%. Annual contributions to this
trust will continue on an annual basis and as part of the City’s budget process. In accordance with
guidance under GASB 67/68, the assets in the Section 115 Trust are reported as restricted cash and
investments in the City’s General Fund. While the Section 115 Trust qualifies as a “trust,” the assets
in the Section 115 Trust are not used to directly pay benefits to beneficiaries; rather, they are used to
pay CalPERS via the CERBT Trust and as a result, the activities are not required to be reported in a
fiduciary fund. The Trust’s ending balance as of June 30, 2022 was $17.4 million.
Business-type activities contributed $6.2 million to citywide revenues totaling $124.6 million, while
the same activities contributed over $7.5 million to citywide expenses of $90.7 million.
The City implemented the provisions of GASB Statement No. 75, Accounting and Financial
Reporting for Postemployment Benefits Other Than Pensions, during fiscal year 2017-18. This
statement requires governments to report a liability on the face of the financial statements for the
OPEB provided by the City. During FY 2019-20, the City reduced the discount rate from 7.0% to
6.5% which consequently increased the Total OPEB Liability. As of June 30, 2022, the City reported
a decrease in Net OPEB Asset of $7.9 million primarily due to the investment return being less than
the service cost plus interest on Total OPEB Liability (TOL). The City’s actuarial valuation
generated a Net OPEB Asset of $1.5 million. The City also reported deferred outflows and inflows
related to OPEB of $5 million and $3.2 million, respectively. As of June 30, 2022, the City’s OPEB
plan had a funding ratio or funded ratio or status of 105%.
On March 11, 2021, the American Rescue Plan Act (ARP) of 2021 was signed into law and
established the Coronavirus State Fiscal Recovery Fund and Coronavirus Local Fiscal Recovery
Funds, which together make up the Coronavirus State and Local Fiscal Recovery Funds (“SLFRF”).
The American Rescue Plan (ARP) Act of 2021 is a $1.9 trillion economic stimulus bill. Within the
ARP, the Coronavirus Local Fiscal Recovery Fund provided $350 billion for states, municipalities,
counties, tribes, and territories, including $130 billion for local governments split evenly between
municipalities and counties. California cities are expected to receive more than $7 billion dollars in
much needed assistance to help offset the billions of dollars in revenue shortfalls due to the shutdown
of local economies and the billions spent protecting public health, delivering essential services,
protecting vulnerable populations, and helping small businesses survive during the pandemic.
The City of Cupertino expected to receive two payments totaling $9,694,773 in SLFRF funding. The
first payment was received in May 2021 in the amount of $4,847,386.50 and the second payment
was received in May 2022. The City may use SLFRF funds to cover these eligible costs incurred
during the period that begins on March 3, 2021 and ends on December 31, 2024, as long as the award
funds for the obligations incurred by December 31, 2024 are spent by December 31, 2026.
As a recipient of the SLFRF award, the City has substantial discretion to use the award funds in the
ways that best suit the needs of the City’s constituents – as long as such use fits into one of the
following four statutory categories determined by the U.S. Department of the Treasury:
- Public Health/Negative Economic Impacts: Recipients may use SLFRF award funds to provide
assistance to households – such as rent, mortgage, or utility assistance – for costs incurred by the
household prior to March 3, 2021, provided that the City did not incur the cost of providing such
assistance prior to March 3, 2021.
- Premium Pay: Recipients may provide premium pay retrospectively for work performed at any
time since the start of the COVID-19 public health emergency. Such premium pay must be “in
addition to” wages and remuneration already received and the obligation to provide such pay
must not have been incurred by the recipient prior to March 3, 2021.
- Revenue Loss: Treasury’s Final Rule gives recipients broad latitude to use funds for the provision
of government services to the extent of reduction in revenue. While calculation of lost revenue
begins with the recipient’s revenue in the last full fiscal year prior to the COVID-19 public health
emergency and includes the 12-month period ending December 31, 2020, use of funds for
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government services must be forward looking for costs incurred by the recipient after March 3,
2021.
- Investments in Water, Sewer, and Broadband: Recipients may use SLFRF award funds to make
necessary investments in water, sewer, and broadband. Recipients may use SLFRF award funds
to cover costs incurred for eligible projects planned or started prior to March 3, 2021, provided
that the project costs covered by the SLFRF award funds were incurred after March 3, 2021.
On September 7, 2021, the Cupertino City Council approved a plan which allocated the ARP funding
towards revenue loss which was estimated at approximately $29 million. Additionally, the $9.7
million in total ARP funding was approved to be spent on general government services in the General
Fund, specifically, City Work Program and special project items. Subsequently, and in accordance
with the Treasury’s Final Rule, a $10 million “standard allowance” may be taken which would
relieve a jurisdiction’s substantiation of revenue loss. Nevertheless, the City plans to continue using
the ARP funding as originally authorized and will continue to monitor and report out on the estimated
and actual revenue losses resulting from the pandemic.
OVERVIEW OF THE FINANCIAL STATEMENTS
The discussion and analysis is intended to serve as an introduction to the City’s Basic Financial
Statements. The Basic Financial Statements are comprised of the City-wide Financial Statements, the
Fund Financial Statements, and the notes to the Basic Financial Statements. These two sets of financial
statements provide two different views of the City’s financial activities and positions.
The City-Wide Financial Statements provide a long-term view of the City’s activities as a whole, and
comprise the Statement of Net Position and the Statement of Activities. These statements are prepared
on the accrual basis, which means they measure the flow of all economic resources of the City as a
whole. The accrual basis of accounting is similar to the accounting used by most private sector
companies. The Statement of Net Position provides information about the financial position of the City
as a whole, including all its capital assets and long-term liabilities. The Statement of Activities provides
information about all the City’s revenues and expenses, with the emphasis on measuring net revenues
and expenses for each of the City’s programs. The Statement of Activities explains in detail the change
in net position for the year. Over time, increases or decreases in net position can be indicators of whether
the financial condition of the City is improving or deteriorating.
All of the City’s activities are grouped into Governmental activities and Business-type activities, as
explained below. The Statement of Net Position and the Statement of Activities provide a summary of
these two types of activities for the City as a whole.
Governmental activities—Most of the City’s basic services are considered to be governmental
activities, including public works, law enforcement, community development, recreation, public &
environmental affairs, and general administration. These services are supported by general City
revenues such as property, sales and other taxes, and by specific program revenues such as developer
fees and grants.
The City’s governmental activities include the activities of a separate legal entity, the Cupertino
Public Facilities Corporation (the “Corporation”), because the City is considered to be financially
accountable for the Corporation. The City leases its major facilities from the Corporation, which
then uses the lease payments to pay principal and interest on the Corporation’s long-term debt.
Business-type activities—All of the City’s enterprises are reported here, including solid waste
management and most of the City’s recreational operations. Unlike governmental services, these
services are supported by charges paid by users based on the amount of services used.
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The Fund Financial Statements report the City’s operations in more detail than the City-wide Financial
Statements and focus primarily on the short-term activities of the City’s General Fund and other major
funds. The Fund Financial Statements measure only current revenues, expenditures, assets, liabilities,
and deferred inflows and outflows of resources; they exclude long-term assets and liabilities. Because
these statements focus on the near-term inflows and outflows of spendable resources, such information
may be useful in evaluating near-term financing requirements.
The Fund Financial Statements provide detailed information about each of the City’s most significant
funds, called major funds. Cupertino’s Fund Financial Statements include governmental, enterprise and
internal service funds as discussed below. Each major fund is presented individually, with all non-major
funds summarized and presented only in a single column. Subordinate schedules, which follow the
Notes to Basic Financial Statements, present the detail of these non-major funds. Major funds present
the significant activities of the City for the year, and may change from year to year as a result of changes
in the pattern of City’s activities and public interest. For example, the Capital Improvement Projects
Fund may or may not appear as a major fund depending on the volume of construction activity in a
certain year.
Governmental Fund financial statements are prepared on the modified accrual basis, which means they
measure only current financial resources and uses. They present essentially the same functions reported
as governmental activities in the city-wide financial statements. However, capital assets and other long-
lived assets, along with long-term liabilities, are not presented in the Governmental Fund financial
statements. Reconciliations are provided to facilitate a comparison between governmental funds and
governmental activity statements to allow a better understanding of the long-term impact of the
government’s near-term financial decisions.
Comparisons of budget and actual financial information are included in the Basic Financial Statements
for the General Fund and other major Special Revenue Funds. For other nonmajor funds, budgetary
comparison schedules for these funds are included in this document as supplemental information only.
Enterprise and Internal Service Fund financial statements are prepared on the full accrual basis and
include current and long-term assets and liabilities and deferred outflows and inflows of resources.
Enterprise funds are used to report the same functions presented as business-type activities in the City-
wide Financial Statements, and in more detail in the Fund Financial Statements.
Since the City’s Internal Service funds provide goods and services only to the City’s governmental and
business-type activities, their activities are reported only in total at the fund level. Internal Service funds
may not be major funds because their revenues are derived from other City funds. These revenues are
eliminated in the City-wide financial statements and any related profits or losses are returned to the
activities which created them, along with any residual net position of the Internal Service funds. For this
City, internal service activities predominantly benefit governmental rather than business-type functions,
and are therefore included within governmental activities in the City-wide Financial Statements.
The Notes to Basic Financial Statements provide important additional detail that is essential to a full
understanding of the data reported in the City-wide and Fund Financial Statements.
CITY-WIDE FINANCIAL ACTIVITIES
This analysis focuses on the net position and changes in net position of the City’s Governmental
Activities (Tables 1 and 2) and Business-Type Activities (Tables 3 and 4) as presented in the City-wide
Statement of Net Position and the Statement of Activities.
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Governmental Activities
Table 1
Condensed Statement of Net Position at June 30
(in thousands)
Governmental Activities
2022 2021
Assets:
Cash and investments $ 190,003 $ 167,810
Restricted cash and investments 17,248 18,499
Other assets 17,916 17,260
Net OPEB assets 1,370 8,958
Capital assets 214,927 210,273
Total assets 441,464 422,800
Deferred Outflows of Resources:
Loss on refunding 199 239
Related to Pension (Note 10) 8,317 8,623
Related to OPEB (Note 11) 4,786 1,468
Total deferred outflows of resources 13,302 10,330
Liabilities:
Long term debt 21,269 23,348
Other liabilities 58,527 77,687
Total liabilities 79,796 101,035
Deferred Inflows of Resources:
Leases Receivable 2,495 -
Related to Pension (Note 10) 11,161 100
Related to OPEB (Note 11) 2,993 8,323
Total deferred inflows of resources 16,649 8,423
Net Position:
Net Investment in capital assets 196,916 186,503
Restricted 65,137 53,711
Unrestricted 96,268 83,458
Total net position $ 358,321 $ 323,672
The City’s change in net position from governmental activities was $34.6 million. The following
significant changes within assets, liability, and net position categories occurred:
The City made an additional $2 million contribution in March 2022 to its Section 115 Trust
as part of the City’s pension rate stabilization program. In accordance with guidance under
GASB 67/68, the assets in the Section 115 Trust are reported as restricted cash and
investments in the City’s General Fund. While the Section 115 Trust qualifies as a “trust,”
the assets in the Section 115 Trust are not used to directly pay benefits to beneficiaries; rather,
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they are used to pay CalPERS via the CERBT Trust and as a result, the activities are not
required to be reported in a fiduciary fund. Cash and investments increased by $22.2 million, or 13%, over the previous fiscal year. This
was due to continued positive performance of the City’s sales tax, receiving of the 2 nd tranche
of American Rescue Plan Act funding ($4.8 million), and reduced departmental spending in
an effort to mitigate the fiscal impacts brought on by the pandemic. With strong investment performance in the City’s Section 115 OPEB Investment Trust, the
City’s Net OPEB Liability was converted to a Net OPEB Asset in FY 2020-21 and was
reported at $9.4 million. This declined to $1.4 million in FY 2021 – 22 due to market
conditions for the City’s investments for OPEB. Capital assets increased approximately $4.6 million. This consisted of continued significant
capital investment into capital projects dedicated to street and transportation improvements,
storm drain improvements, and maintenance of and improvements to City facilities that were
offset with current year depreciation expense. Long-term debt decreased by $2 million or 8.9% over the previous year and resulted from
scheduled debt service of the City’s 2020 Certificates of Participation. Other liabilities decreased by approximately $19.2 million or 24.7%, primarily due to an
decrease in the City’s Net Pension Liability as well as a $4.8 million unearned revenue related
to the American Rescue Plan Act of 2021 from FY 2020 – 21 that was not repeated in FY22. Deferred Outflows Related to Pension and OPEB increased $3 million primarily due to
actuarial changes of assumptions. Deferred Inflows of Resources Related to Pension and
OPEB increased approximately $8.2 million primarily due to actuarial changes of
assumptions as well as a new deferral required to be reported due to the City’s adoption of
GASB Statement No. 87, Leases.
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Sources of Revenue, Governmental Activities
2021-22
Program revenues experienced consistent performance year-over-year as the pandemic has had
significant adverse impact on charges for services, particularly in the Parks and Recreation department.
With the exception of investment income, the City’s general tax revenues remained strong with sales tax
continuing its unprecedented positive performance throughout the pandemic. Revenues increased net
$5.0 million from the prior year.
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Functional Expenses, Governmental Activities
2021-22
The Statement of Activities presents program revenues, expenses, general revenues, and the resulting
change in net position as summarized in the next table.
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Table 2
Condensed Statement of Activities for the Year Ended June 30
(in thousands)
Governmental Activities
Expenses 2022 2021
Administration $7,293 $3,637
Law enforcement 16,100 15,212
Innovation & technology 2,004 1,722
Administrative services 5,364 5,358
Recreation and community services 3,977 1,183
Community development 12,210 11,496
Public works 35,654 41,870
Interest on long-term debt 637 398
82,239 80,876
Revenue
Program revenues:
Charges for services 21,387 18,137
Operating grants and contributions 7,601 5,998
Capital grants and contributions 1,283 1,792
Total program revenues 30,271 25,928
General revenues:
Taxes:
Property tax 20,323 19,198
Property tax in-lieu of motor vehicle fee 9,402 9,080
Sales tax 43,647 42,581
Transient occupancy tax 4,405 2,141
Utility user tax 3,356 3,074
Franchise tax 3,480 3,368
Other taxes 11,118 3,022
Intergovernmental, unrestricted:
Motor vehicle license fee 68 44
Investment earnings (9,242) 4,148
Gain on sale of capital assets - -
Miscellaneous 1,948 3,185
Total general revenues 88,504 89,842
Total revenues 118,775 115,770
Excess of revenues over expenses,
before transfers 35,536 34,894
Transfers (Note 4) (887) (2,849)
Change in net position 34,649 32,045
Beginning net position 323,672 291,627
Ending net position $ 358,321 $ 323,672
City-wide Governmental Activities Revenues
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Table 2 shows that revenues from governmental activities increased $3 million or 2.5% from last year,
finishing at $119 million. General revenues also experienced a net increase namely, property tax, sales
tax, and other taxes as further discussed below.
Increases in the City’s general revenues are attributable to a $1.1 million increase in property tax over
the prior year. According to the 2022/23 City of Cupertino Property Tax Review from HDL (Assessor’s
Annual Report for Santa Clara County) the net assessment roll growth increased $2.1 billion million, or
7.24%, from the prior year. Approximately 100% was attributable to residential, commercial, industrial,
recreational, vacant properties, Miscellaneous and Institutional use values and 2.27% decreased in
Unsecured Value change.
The City experienced an increase of $1.1 million in FY 2021-22 with sales tax revenues increasing by
2.5% over the previous fiscal year. Although the City experienced declines in many of the sectors
including autos and transportation, building and construction, fuel and service stations, general consumer
goods, and restaurants and hotels over the last two year, these experiences were mitigated by strong
performance in the business and industry sector and the City’s county pool allocation. The COVID-19
pandemic has brought great uncertainty to the economy and although the business and industry sector
has experienced significant growth due to the telework conversion and closure of brick-and-mortar retail,
the City continues to monitor and forecast these sectors conservatively.
In FY 2021-22, total transient occupancy tax increased $2.3 million, or 105.7%, over the prior year.
Although an improvement from prior year, we are on the road to recovery for this tax source although it
was anticipated to take longer than other areas as employers’ long-term and permanent telework policies
will have substantial impact on the timing and extent of recovery. Other taxes experienced an increased
of $8.1 million, or 268% due to new Park Dedication taxes received in 2022.
Investment earnings decreased by $13.4 million, or 323%, over the prior year. This was due to the City’s
portfolio’s total rate of return of negative 4.76% (net of fee) for the fiscal year (source: Chandler Asset
Management) resulting from market conditions.
Program revenues showed an increased of $3.3 million or 18%, and is primarily attributable to an
increase in services within the Parks & Recreation department as pandemic restrictions eased.
City-wide Governmental Activities Expenses
City-wide governmental activities expenses increased by $2.4 million, or 3%. This was primarily driven
by budget reduction strategies that were incorporated as part of the FY 2021-22 Adopted Budget in
response to the COVID-19 pandemic.
Change in Net Position
The City-wide governmental net position increase of $34.6 million was significantly up compared to the
increase in 2020-21 and can be best explained by continued positive sales tax performance, federal
funding assistance, and budget reduction strategies.
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Business Type Activities
Business-type activities in the City-wide Financial Statements include the City’s four enterprise funds.
Enterprise funds are used to account for recreational and solid waste management operations that are
financed and operated in a manner similar to private business enterprises where the intent is that costs
of providing services and facilities to the general public on a continuing basis be financed or recovered
primarily through user fees. The major proprietary funds section of this report provides more
information on business-type results.
As shown in Table 3 and Table 4, the business-type net position totaled $10.7 million at June 30, 2022,
decreased by $785,000 or 7%, from the prior and the net investment in capital assets is slightly lower
than prior year. Business-type activities transferred in (net) decreased by $2 million over the prior year.
An increase in capital asset additions of $336,816 offset with $222,566 in depreciation expense resulted
in a net increase of $114,250 over the prior year. Enterprise activities experienced an overall increase
in assets due primarily to investment income which increased cash and cash equivalents. Liabilities for
business-type activities decreased by $271,000 or 6.2% over the previous year In Table 4, revenues for
all business-type activities increased $968,000, or 19.9% and operating expenses increased by $2
million, primarily attributable the impacts set forth by the pandemic.
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Table 3
Condensed Statement of Net Position at June 30
(in thousands)
Business Type Activities
2022 2021
Assets:
Cash and investments $ 12,342 $ 12,961
Other assets 230 577
Capital assets 2,090 2,091
Total assets 14,662 15,629
Deferred Outflows of Resources:
Related to pension 565 579
Related to OPEB 256 101
Total deferred outflows of
resources 821 680
Other Liabilities: 4,118 4,389
Total liabilities 4,118 4,389
Deferred Inflows of Resources:
Related to pension 498 21
Related to OPEB 188 434
Total deferred inflows of resources 686 455
Net Position:
Net Investment in capital assets 2,090 2,091
Unrestricted 8,590 9,374
Total net position $ 10,679 $ 11,465
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Table 4
Condensed Statement of Activities for the Year Ended June 30
(in thousands)
Business Type Activities
Expenses 2022 2021
Resource recovery $ 1,838 $ 1,670
Blackberry farm 655 535
Cupertino sports center 3,396 2,183
Recreation programs 1,618 1,117
Total expenses 7,507 5,505
Revenues
Program revenues:
Charges for services 6,239 4,831
General revenues:
Investment earnings (404) 36
Total revenues 5,835 4,867
Excess of revenues over expenses,
before extraordinary item and
transfers (1,672) (638)
Transfers 887 2,849
Change in net position (785) 2,211
Beginning net position 11,465 9,254
Ending net position $ 10,680 $ 11,465
MAJOR GOVERNMENTAL FUNDS
General Fund
General Fund Revenues
General Fund actual revenues of $105 million ended $15.6 million, or 17%, above the original budget
and $33.6 million, or 24%, below the final budget. Conservative estimates were applied to the original
budget due to the pandemic. Table 5 displays the variations in actual revenues, while Table 6 shows
budgeted revenues compared to actuals.
Property taxes increased $1.4 million, or 5%, over the prior year due to continued roll-growth.
According to the 2020-2021 Assessor’s Annual Report for Santa Clara County, Cupertino’s net
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assessment roll growth increased by $2.1 billion, or 7.24%, from the prior year. Sales tax decreased by
1% or $0.4 million, over the prior year due to county pool allocations. Sales Tax revenue is 40.1% of
total. Transient occupancy tax increased $2.3 million, or 106%, due to the COVID-19 and the related
shelter-in-place orders which brought transient occupancy tax revenues to a near halt beginning in March
2020. Charges for services increased by 23% nearly $12M over the previous year due to increased in
services as pandemic restrictions eased. Licenses and permits decreased $74,000, or 2%, due to
decreased on permitting on animal licenses, Mech/Elec/Plumbing and others.
Table 5
Revenue Changes
General Fund, Fiscal 2022 vs. 2021
(in thousands)
Increase/(Decrease)
Fiscal 2022 From Fiscal 2021
Revenue by Source Amount % of Total Amount Percent
Taxes:
Property $ 29,724 28% $ 1,446 5%
Sales 42,208 40% (373) -1%
Transient occupancy 4,405 4% 2,264 106%
Utility user 3,356 3% 282 9%
Franchise 3,480 3% 112 9%
Other 1,906 2% (734) -28%
Use of money & property -5,341 -5% (10,179) -210%
Intergovernmental 4,385 4% 2,938 203%
Licenses and permits 4,142 4% 74 2%
Charges for services 14,592 14% 2,710 23%
Fines and forfeitures 370 0% 241 187%
Other 1,941 2% 678 54%
Total revenues $ 105,168 100% $ (541) -1%
Other financing sources:
Transfers in $ 15 100% $ (493) -97%
Total other financing sources $ 15 100% $ (493) -97%
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Table 6
Revenue, Budget and Actual Comparisons
General Fund 2021-22
(in thousands)
Budgeted Amounts Over/(Under)
Original Final Actual Final
Taxes:
Property $ 27,840 $ 27,840 $ 29,724 $ 1,884
Sales 27,856 36,912 42,208 5,296
Transient occupancy 3,000 3,000 4,405 1,405
Utility user 3,245 3,245 3,356 111
Franchise 3,381 3,381 3,480 99
Other 1,249 1,249 1,906 657
Use of money &
property
1,251 1,251 (5,341) (6,592)
Intergovernmental 5,094 10,366 4,385 (5,981)
Licenses and permits 3,140 33,595 4,142 (29,453)
Charges for services 12,322 16,063 14,592 (1,471)
Fines and forfeitures 225 225 370 145
Other 1,001 1,644 1,941 297
Total revenues $ 89,602 $ 138,770 $ 105,168 $ (33,602)
Transfers in $ 45 $ 5,092 $ 15 $ (5,077)
General Fund Expenditures
Fiscal 2020-21 overall expenditures, at $70.4 million, were $1.7 million, or 2%, higher than last year.
This result came in $12.2 million, or 15%, under the final budget. Year-over-year and budget-versus-
actual results for General Fund programs are described below and in Tables 7 and 8.
Administration decreased $57,000 or 1%, from 2020-21 and is primarily due to the Economic
Development and Video functions moving from Community Development and Innovation &
Technology departments, respectively. Law Enforcement was $940,000 higher or approximately 6%,
which was the automatic increase in the existing contract with the Santa Clara County Sheriff’s Office
triggered by increases in the operating agreement and CalPERS costs. Innovation & Technology
increased by $226,000, or 12%, over the prior year. This was driven by the Department’s reorganization
from prior years where full year costs are now captured in the Department. Administrative Services’
expenditures increased approximately $330,000, or 6%, over the prior year due to negotiated increases
in salary and benefits. This increase also reflected the establishment of the internal audit function. Parks
& Recreation General Fund expenditures experienced a 1% decrease, or $59,000, across its programs. The
majority of this decrease was due to COVID-19 and the inability to hold related program activities and
events in FY 2020-21 that were resumed in FY 2021-22 in other funds/functions. Community
Development expenditures in the General Fund increased $1.5 million, or 16%, and resulted primarily
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CITY OF CUPERTINO
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2022
19
from increases in cost allocation charges. Public Works expenditures increased approximately $3.3
million or 16%. This is primarily represented by an increase in compensation and benefits. Various
divisions and programs fluctuated over the prior year due to the addition and completion of one-time
special projects. Transfers out of the General Fund increased from $15.1 million in 2020-21 to $21.4
million, or 41%. This was due to a reduction in one-time transfers from the General Fund to the Capital
Reserve.
Table 7
Expenditure Changes
General Fund, Fiscal 2022 vs. 2021
(in thousands)
Increase/(Decrease)
Fiscal 2022 From Fiscal 2021
Function/Program Amount % of Total Amount Percent
Administration $ 7,492 11% $ (57) -1%
Law enforcement 15,716 22% 940 6%
Innovation and
technology 2,063 3% 226 12%
Administrative
services
5,526 8% 330 6%
Parks and
recreation
4,729 7% (59) -1%
Community
development
11,188 16% 1,509 16%
Public works 23,327 33% 3,302 16%
Capital outlay 396 1% (4,476) -92%
Total expenditures $ 70,437 100% $ 1,715 2%
Transfers out $ 21,425 189% $ 6,276 41%
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CITY OF CUPERTINO
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2022
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Table 8
Expenditure Changes
General Fund 2021-22
(in thousands)
Budgeted Amounts (Over)/Under
Function/Program Original Final Actual Final
Administration $ 9,010 $ 9,557 $ 7,492 $ 2,065
Law enforcement 15,756 15,756 15,716 40
Innovation and
technology
2,369 2,211 2,063 148
Administrative
services
5,378 5,649 5,526 123
Parks and recreation 7,349 7,466 4,729 2,737
Community
development
12,872 12,331 11,188 1,143
Public works 25,573 28,622 23,327 5,295
Capital outlay 208 1,068 396 672
Total expenditures $ 78,515 $ 82,660 $ 70,437 $ 12,223
Transfers out $ 11,252 $ 26,124 $ 21,425 $ (4,699)
General Fund - Fund Balance
The General Fund carried a June 30, 2022, ending fund balance of $110.2 million, up 13% over the prior
fiscal year. Loan receivables totaled $439,199 of non-spendable fund balance. The City committed $34.1
million for general economic uncertainty and $127,891 for sustainability. The City assigned $5,041,682
million for encumbrances. $1,492,810 million was restricted for public access television purposes,
$23,621 for debt service, and $17,240,051 for the pension rate stabilization program (Section 115 Trust).
$48,696,821 was classified as unassigned.
Transportation
The Transportation Special Revenue Fund carried a June 30, 2022, ending fund balance of $11,828,395
up 25.7%, or $9.4 million from the beginning of the fiscal year. In recent years this fund has accumulated
fund balance year over year. The increase was primarily driven by a reduction of spending due to the
pandemic as well as an accumulation of SB1 revenues which is used for transportation projects in FY
2022-23.
Housing Development
The Housing Development Special Revenue Fund carried a June 30, 2022, ending fund balance of $7.2
million, down 9%, or $770,000, from the beginning of the fiscal year. The activities in this fund remained
relatively consistent with the previous fiscal year.
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CITY OF CUPERTINO
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2022
21
Public Facilities Corporation
In 2020, the City of Cupertino 2020A Certificates of Participation (2020 COPs) were successfully sold
at very attractive interest rates in order to refund the City’s 2012 Certificates of Participation for debt
service savings. The 2020 COPs were very well received by investors due in large part to the well-
regarded Cupertino name, the top-notch AA+ rating, the sizable annual principal amounts and short
maturity, and favorable supply and demand dynamics in the California municipal market. Fund balance
as of June 30, 2022 was $8,350 substantially lower than the previous year, due to the reserve fund
requirement being removed from the new issuance in 2021 and scheduled debt service in 2022.
Capital Improvement Projects
The Capital Improvement Projects Capital Projects Fund carried a June 30, 2022, ending fund balance
of $34,922,310 down 5.3%, or $2 million from the beginning of the fiscal year. The City continued to
expend resources for capital projects planned, using fund level resources and also resources from other
funds transferred in as appropriate.
MAJOR PROPRIETARY FUNDS
Resource Recovery
The City has a solid waste franchise agreement with Recology that shares collection, landfill disposal,
and recycling revenues and costs. This fund receives revenues from Recology with the funds going
toward landfill costs, regulatory fees, and staffing costs that the City incurs to manage its solid waste,
recycling, and household hazardous waste programs. Total operating revenue and expenses is at $1.55
million and $1.84 million, respectively. Net position decreased by $487,065. The fund ended the year
with $5 million in net position.
Recreation Programs
This enterprise operates the Quinlan Community Center, Monta Vista Recreation Center, McClellan
Ranch, Creekside Park building, eight school sites, and various parks. Recreation Programs experienced
the severe impacts of the pandemic with revenue and expense reductions of over 60% in prior years that
since has started to recover. These programs generated approximately $1.3 million in revenues and
program expenses of approximately $1.6 million. This resulted in a net operating loss of $323,589. After
the $806,809 transfer from the General Fund, the fund ended up with an increase in net position of
$376,040. The fund ended the year with a net position of $2.6 million.
Cupertino Sports Center
Revenue increased by $986,135 or 54.4% since COVID-19 cases has gone done from the prior fiscal
year. As a result of the increased in services generating more revenue, expenses increased by $1.2 million
or 55.65% resulted in a net operating loss of $599,817. This fund’s net position was $2.2 million as of
June 30, 2022.
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CITY OF CUPERTINO
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2022
22
NONMAJOR PROPRIETARY FUND
Blackberry Farm
City employees, with a teaching professional contractor, staff the City-owned Blackberry Farm golf
course and pro shop. Operating revenues decreased from $610,603 to $602,778 or 1.3%. Operating
expenses increased by $119,910, or 22.5%, to $655,184 this year which ended up with operating loss of
$52,406. After a transfer in from the General Fund of $79,992, net position decreased $12,289. As of
June 30, 2022, this fund’s net position was $856,221.
CAPITAL ASSETS
At June 30, 2022, the City had $217 million, net of depreciation, invested in a broad range of capital
assets used in governmental and business-type activities, as shown in Table 9 and in Note 5 to the Basic
Financial Statements. This reflects the City’s continued investment into capital projects dedicated to
street and transportation improvements, storm drain improvements, and maintenance of and
improvements to City facilities, resulting in an increase in net capital assets of $4.7 million, after
depreciation.
Table 9
Capital Assets, Net of Depreciation, at June 30
(in thousands)
2022 2021
Governmental Activities:
Land $ 64,787 $ 64,787
Easements 19,615 19,615
Construction in Progress 23,406 15,951
Buildings 14,118 14,578
Improvements other than buildings 15,405 17,753
Machinery and equipment 4,195 4,621
Roads, curbs, gutters, sidewalks, medians and
bridges 67,932 66,900
Streetlights 1,270 1,620
Storm drain structures and mains 3,691 3,831
Traffic signals 508 617
Total Governmental Activities 214,927 210,273
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CITY OF CUPERTINO
Management’s Discussion and Analysis (Unaudited)
For the Year Ended June 30, 2022
23
Business-Type Activities
Construction in Progress $ 185 $ 125
Buildings 1,501 1,546
Improvements other than buildings 315 337
Machinery and equipment 89 83
Total Business-Type Activities 2,090 2,091
Total City $ 217,017 $ 212,364
DEBT ADMINISTRATION
On September 29, 2020, the City of Cupertino’s 2020A Certificates of Participation (2020 COPs) were
successfully sold in order to refund the City’s 2012 Certificates of Participation for debt service savings.
The 2020 COPs were very well received by investors due in large part to the well-regarded Cupertino
name, the top-notch AA+ rating, the sizable annual principal amounts and short maturity, and favorable
supply and demand dynamics in the California municipal market. The refunding generated net present
value savings of approximately $3.14 million, 11.61% of refunded par and a True Interest Cost of 0.72%.
Savings to the City’s General Fund amounts to approximately $494,000 per year for the next 10 years,
or almost $5 million in total savings.
The June 30, 2022, outstanding principal of $18,020,000 is due to be paid off by June 1, 2030. More
information can be found in Note 6 to the Basic Financial Statements and in the Public Facilities
Corporation discussion earlier in this analysis.
CURRENTLY KNOWN FACTS AND CONDITIONS
The COVID-19 pandemic has had significant impacts on the City, both financially as well as
operationally. Although revenues in transient occupancy tax and charges for services have experienced
declines since the start of the pandemic and subsequent recoveries, the City has continued to put forth
efforts to reduce its operating costs to mitigate the future impacts. Additionally, through the assistance
of the CARES Act and American Rescue Plan Act, the City anticipates these funds will mitigate much
of the revenue loss and fiscal impact of the pandemic over the short- and long-term. The City’s reserves
remain intact and the City does not anticipate requiring the use of these Committed and Restricted funds.
Aside from the pandemic, the City is unaware of any other facts or conditions or decisions that are
expected to have a significant effect on net position or results of operations.
CONTACTING THE CITY’S FINANCIAL MANAGEMENT
This Annual Comprehensive Financial Report is intended to provide a general overview of the City’s
finances. Further information can be provided by the City of Cupertino Finance Department, 10300
Torre Avenue, Cupertino CA 95014, phone (408) 777-3280, or by the City website at
www.cupertino.org.
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STATEMENT OF NET POSITION AND STATEMENT OF ACTIVITIES
24.
The Statement of Net Position and the Statement of Activities summarize the entire City's financial activities
and financial position. They are prepared on the same basis as is used by most businesses, which means
they include all the City's assets and all its liabilities, as well as all its revenues and expenses. This is known
as the full accrual basis - the effect of all the City' s transactions is taken into account, regardless of whether
or when cash changes hands, but all material internal transactions between City funds have been
eliminated.
The Statement of Net Position reports the difference between the City's total assets and deferred outflows
and the City's total liabilities and deferred inflows, including all the City's capital assets and all its long term
debt.
The Statement of Net Position summarizes the financial position of all the City's Governmental Activities in
a single column, and the financial position of all the City's Business-Type Activities in a single column; these
columns are followed by a Total column which presents the financial position of the entire City.
The City's Governmental Activities include the activities of its General Fund, along with all its Special
Revenue, Capital Projects and Debt Service Funds. Since the City's Internal Service Funds service these
Funds, their activities are consolidated with Governmental Activities, after eliminating inter-fund
transactions and balances. The City's Business Type Activities include all of its Enterprise Fund activities.
The Statement of Activities reports increases and decreases in the City's net position. It is also prepared
on the full accrual basis, which means it includes all the City's revenues and all its expenses, regardless of
when cash changes hands. This differs from the "modified accrual" basis used in the Fund financial
statements, which reflect only current assets, current liabilities, available revenues and measurable
expenditures.
The format of the Statement of Activities presents the City's expenses first, listed by program, and follows
these with the expenses of its business-type activities. Program revenues, that are revenues which are
generated directly by these programs, are then deducted from program expenses to arrive at the net
expense of each governmental and business-type program. The City's general revenues are then listed in
the Governmental Activities or Business-type Activities column, as appropriate, and the Change in Net
Position is computed and reconciled with the Statement of Net Position.
Both these Statements include the financial activities of the City and the Cupertino Public Facilities
Corporation, which is a legally separate component unit of the City because it is controlled by and financially
accountable to the City.
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CITY OF CUPERTINO, CALIFORNIA
STATEMENT OF NET POSITION
June 30, 2022
See accompanying notes to financial statements.
25.
Governmental Business-Type
Activities Activities Total
ASSETS
Cash and cash investments (Note 2)190,002,762$ 12,342,235$ 202,344,997$
Restricted cash and investments (Note 2)17,248,384 - 17,248,384
Receivables
Accounts 10,628,820 131,658 10,760,478
Interest 39,428 - 39,428
Loans (Note 3)4,640,130 - 4,640,130
Leases 2,495,226 - 2,495,226
Prepaid expenses and other assets 111,363 - 111,363
Net OPEB asset (Note 11)1,369,935 99,065 1,469,000
Capital assets (Note 5):
Non-depreciable 107,808,185 184,667 107,992,852
Depreciable, net of
accumulated depreciation 107,119,305 1,904,902 109,024,207
Total assets 441,463,538 14,662,527 456,126,065
DEFERRED OUTFLOWS OF RESOURCES
Deferred loss on refunding 199,347 - 199,347
Related to pension (Note 10)8,316,782 565,574 8,882,356
Related to OPEB (Note 11)4,786,098 255,902 5,042,000
Total deferred outflows of resources 13,302,227 821,476 14,123,703
LIABILITIES
Accounts payable and accruals 5,254,663 436,940 5,691,603
Accrued payroll and benefits 2,491,253 289 2,491,542
Deposits 10,461,068 - 10,461,068
Unearned revenue 2,359,654 1,107,161 3,466,815
Compensated absences (Note 1):
Due in one year 540,130 16,927 557,057
Due in more than one year 4,150,191 199,709 4,349,900
Claims payable (Note 9):
Due in one year 282,000 - 282,000
Due in more than one year 1,287,000 - 1,287,000
Long-term debt (Note 6):
Due in one year 1,955,000 - 1,955,000
Due in more than one year 19,313,829 - 19,313,829
Net pension liability - noncurrent (Note 10)31,701,032 2,357,544 34,058,576
Total liabilities 79,795,820 4,118,570 83,914,390
DEFERRED INFLOWS OF RESOURCES
Leases receivable 2,495,226 - 2,495,226
Related to pension (Note 10)11,160,865 497,967 11,658,832
Related to OPEB (Note 11)2,992,641 188,360 3,181,001
Total deferred inflows of resources 16,648,732 686,327 17,335,059
NET POSITION (Note 7)
Net investment in capital assets 196,915,823 2,089,569 199,005,392
Restricted for:
Special revenue projects 57,951,406 - 57,951,406
Affordable housing 7,177,611 - 7,177,611
Debt service 8,350 - 8,350
Total restricted net position 65,137,367 - 65,137,367
Unrestricted 96,268,023 8,589,537 104,857,560
Total net position 358,321,213$ 10,679,106$ 369,000,319$
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CITY OF CUPERTINO, CALIFORNIA
STATEMENT OF ACTIVITIES
For the year ended June 30, 2022
See accompanying notes to financial statements.
26.
Operating Capital Business-
Charges for Grants and Grants and Governmental Type
Functions/Programs Expenses Services Contributions Contributions Activities Activities Total
Governmental activities:
Administration 7,293,244$ 2,551,205$ 3,594,028$ -$ (1,148,011)$ -$ (1,148,011)$
Law enforcement 16,100,903 940,797 438,134 - (14,721,972) - (14,721,972)
Public and environmental affairs 2,004,515 - - - (2,004,515) - (2,004,515)
Administrative services 5,363,745 7,457,032 - - 2,093,287 - 2,093,287
Recreation services 3,976,793 653,994 - - (3,322,799) - (3,322,799)
Community development 12,209,547 5,768,850 844,919 - (5,595,778) - (5,595,778)
Public works 35,653,588 4,015,183 2,724,129 1,282,617 (27,631,659) - (27,631,659)
Interest on long - term debt 636,960 - - - (636,960) - (636,960)
Total governmental activities 83,239,295 21,387,061 7,601,210 1,282,617 (52,968,407) - (52,968,407)
Business-type activities:
Resource recovery 1,837,781 1,545,683 - - - (292,098) (292,098)
Blackberry farm 655,184 602,778 - - - (52,406) (52,406)
Cupertino sports center 3,396,146 2,796,329 - - - (599,817) (599,817)
Recreation programs 1,617,717 1,294,128 - - - (323,589) (323,589)
Total business-type activities 7,506,828 6,238,918 - - - (1,267,910) (1,267,910)
Total 90,746,123$ 27,625,979$ 7,601,210$ 1,282,617$ (52,968,407) (1,267,910) (54,236,317)
General revenues:
Taxes:
Property taxes 20,322,779 - 20,322,779
Property tax in lieu of motor vehicle fee 9,401,632 - 9,401,632
Sales taxes 43,646,813 - 43,646,813
Transient occupancy tax 4,404,958 - 4,404,958
Utility user tax 3,356,389 - 3,356,389
Franchise tax 3,479,554 - 3,479,554
Other taxes 11,117,528 - 11,117,528
Intergovernmental, unrestricted:
Motor vehicle license fee 67,762 - 67,762
Investment earnings (loss)(9,241,781) (404,444) (9,646,225)
Miscellaneous 1,948,332 - 1,948,332
Transfers (Note 4)(886,801) 886,801 -
Total general revenues and transfers 87,617,165 482,357 88,099,522
Change in Net Position 34,648,758 (785,553) 33,863,205
Net Position, beginning of year 323,672,455 11,464,659 335,137,114
Net Position, end of year 358,321,213$ 10,679,106$ 369,000,319$
Program Revenues Changes in Net Position
Net (Expense) Revenue and
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FUND FINANCIAL STATEMENTS
27.
In the Fund Financial Statements only individual major funds are presented, while non-major funds are
combined in a single column. Major funds are defined generally as having significant activities or balances
in the current year.
The funds described below were determined to be Major Funds by the City for fiscal 2020-20. Individual
non-major funds may be found in the Supplementary section.
General Fund: The general fund is the general operating fund of the City. It is used to account for all
financial resources except those that are required to be accounted for in another fund.
Transportation Special Revenue Fund: Accounts for the City's gas tax, vehicle registration fees and grant
revenues and expenditures related to the maintenance and construction of City streets. All revenue in this
fund is restricted exclusively for street and road purposes including related engineering and administrative
expenditures.
Housing Development Special Revenue Fund: Accounts for the Federal Housing and Community
Development Grant Program activities administered through the County. Monies collected from developers
that mitigate the impact of housing needs are also included. Monies in this fund are governed by the
program's rules.
Public Facilities Corporation Debt Service Fund: This fund accounts for the payments of principal and
interest on certificates of participation issued to provide for the financing of the Civic Center, Library, Wilson
Park, Memorial Park, and other City facilities.
Capital Improvement Projects Capital Projects Fund: This fund accounts for activities related to the
acquisition or construction of major capital facilities.
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CITY OF CUPERTINO, CALIFORNIA
GOVERNMENTAL FUNDS
BALANCE SHEET
June 30, 2022
See accompanying notes to financial statements.
28.
Public Capital
Facilities Improvement
Corporation Projects Nonmajor Total
Housing Debt Capital Governmental Governmental
General Transportation Development Service Fund Projects Fund Funds Funds
ASSETS
Cash and investments (Note 2)99,149,578$ 11,869,955$ 6,261,918$ 17$ 37,728,845$ 27,541,423$ 182,551,736$
Restricted cash and investments (Note 2)17,240,051 - - 8,333 - - 17,248,384
Receivables:
Accounts 9,281,673 222,980 561,200 - 529,854 33,113 10,628,820
Interest 39,428 - - - - - 39,428
Loans (Note 3)439,199 - 4,200,931 - - - 4,640,130
Leases 2,495,226 - - - - - 2,495,226
Due from other funds (Note 4)539,204 - - - - - 539,204
Advances to other funds (Note 4)3,000,000 - - - - - 3,000,000
Prepaid items 107,479 - - - - - 107,479
Other assets 3,884 - - - - - 3,884
Total assets 132,295,722$ 12,092,935$ 11,024,049$ 8,350$ 38,258,699$ 27,574,536$ 221,254,291$
LIABILITIES
Accounts payable and accruals 4,328,312$ 264,540$ 174,438$ -$ 327,116$ 41,428$ 5,135,834$
Accrued payroll and benefits 2,491,181 - - - - - 2,491,181
Advances from other funds (Note 4)- - - - 3,000,000 - 3,000,000
Deposits 10,461,068 - - - - - 10,461,068
Unearned revenue 2,350,381 - - - 9,273 - 2,359,654
Total liabilities 19,630,942 264,540 174,438 - 3,336,389 41,428 23,447,737
DEFERRED INFLOWS OF RESOURCES
Leases receivable 2,495,226 - - - - - 2,495,226
Unavailable revenue - loans - - 3,672,000 - - - 3,672,000
Total deferred inflows of resources 2,495,226 - 3,672,000 - - - 6,167,226
FUND BALANCES (Note 7)
Nonspendable 3,546,678 - - - - - 3,546,678
Restricted 18,756,482 11,828,395 7,177,611 8,350 - 27,366,529 65,137,367
Committed 34,127,891 - - - - - 34,127,891
Assigned 5,041,682 - - - 34,922,310 166,579 40,130,571
Unassigned 48,696,821 - - - - - 48,696,821
Total fund balances 110,169,554 11,828,395 7,177,611 8,350 34,922,310 27,533,108 191,639,328
Total liabilities, deferred inflows
of resources and fund balances 132,295,722$ 12,092,935$ 11,024,049$ 8,350$ 38,258,699$ 27,574,536$ 221,254,291$
Special Revenue Funds
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CITY OF CUPERTINO, CALIFORNIA
RECONCILIATION OF GOVERNMENTAL FUNDS
BALANCE SHEET TO STATEMENT OF NET POSITION
June 30, 2022
See accompanying notes to financial statements.
29.
Total fund balances reported on the governmental funds balance sheet 191,639,328$
211,949,122
5,916,992
3,672,000
Long-term debt (21,268,829)
Net pension liability (29,775,089)
Net OPEB asset 1,288,806
Deferred loss on refunding 199,347
Pension-related deferred outflows of resources 7,797,653
Pension-related deferred inflows of resources (10,361,010)
OPEB-related deferred outflows of resources 4,439,796
OPEB-related deferred inflows of resources (2,806,502)
Compensated absences (4,370,401)
Net position for governmental activities 358,321,213$
The liabilities, deferred inflows of resources and deferred outflows of
resources are not related to the current period and therefore are not
reported in the governmental funds:
Capital assets used in governmental activities are not current assets or
financial resources and therefore are not reported in the governmental
funds.
Internal service funds are used by management to charge the costs of
activities such as information technology, insurance, equipment
acquisition and maintenance, and certain employee benefits to
governmental funds. The assets and liabilities of the internal service
funds are therefore included in the governmental activities of the
statement of net position.
Certain receivables are not available to pay for current period
expenditures and therefore are deferred in the governmental funds.
Amounts reported for governmental activities in the statement of net position are different
from those reported in the governmental funds because of the following:
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CITY OF CUPERTINO, CALIFORNIA
GOVERNMENTAL FUNDS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
For the year ended June 30, 2022
See accompanying notes to financial statements.
30.
Public Capital
Facilities Improvement
Corporation Projects Nonmajor Total
Housing Debt Capital Governmental Governmental
General Transportation Development Service Fund Projects Fund Funds Funds
Revenues
Taxes 85,079,013$ -$ 36,000$ -$ 1,438,505$ 9,176,135$ 95,729,653$
Use of money and property (5,341,211) (375,355) (161,249) - (1,682,882) (940,742) (8,501,439)
Intergovernmental 4,384,812 3,025,691 787,172 - 753,914 - 8,951,589
Licenses and permits 4,141,902 - - - - - 4,141,902
Charges for services 14,592,031 25,210 3,040 - - 1,753,622 16,373,903
Fines and forfeitures 370,159 - - - - 3,563 373,722
Other revenue 1,941,050 3,245 4,037 - - - 1,948,332
Total revenues 105,167,756 2,678,791 669,000 - 509,537 9,992,578 119,017,662
Expenditures
Current:
Administration 7,492,277 - - - - - 7,492,277
Law enforcement 15,715,815 - - - - - 15,715,815
Public and environmental affairs 2,063,176 - - - - - 2,063,176
Administrative services 5,525,888 - - - - - 5,525,888
Recreation services 4,729,438 - - - - - 4,729,438
Community development 11,188,200 - 1,439,502 - - - 12,627,702
Public works 23,327,366 3,566,689 - - - 1,648,795 28,542,850
Capital outlay 396,356 3,261,133 - - 8,711,579 408,053 12,777,121
Debt service:
Principal - - - 1,880,000 - - 1,880,000
Interest and fiscal charges - - - 796,000 - - 796,000
Total expenditures 70,438,516 6,827,822 1,439,502 2,676,000 8,711,579 2,056,848 92,150,267
Excess (deficiency) of revenues
over expenditures 34,729,240 (4,149,031) (770,502) (2,676,000) (8,202,042) 7,935,730 26,867,395
Other financing sources (uses)
Transfers in (Note 4)15,000 6,672,824 - 2,621,000 10,130,235 3,650,000 23,089,059
Transfers (out) (Note 4)(21,425,477) (105,235) - - (3,865,000) (381,000) (25,776,712)
Total other financing sources (uses)(21,410,477) 6,567,589 - 2,621,000 6,265,235 3,269,000 (2,687,653)
Net change in fund balances 13,318,763 2,418,558 (770,502) (55,000) (1,936,807) 11,204,730 24,179,742
Beginning fund balances 96,850,791 9,409,837 7,948,113 63,350 36,859,117 16,328,378 167,459,586
Ending fund balances 110,169,554$ 11,828,395$ 7,177,611$ 8,350$ 34,922,310$ 27,533,108$ 191,639,328$
Special Revenue Funds
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CITY OF CUPERTINO, CALIFORNIA
GOVERNMENTAL FUNDS
RECONCILIATION OF NET CHANGES IN FUND BALANCES –
GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
For the year ended June 30, 2022
See accompanying notes to financial statements.
31.
Total net changes in fund balances reported on the
governmental funds balance sheet 24,179,742$
Amounts reported for governmental activities in the statement of activities
are different from those reported in the governmental funds because of
the following:
Capital outlay 12,848,688
Depreciation expense (7,827,241)
1,880,000
Bond proceeds provide current financial resources to governmental
funds, but issuing debt increases long-term liabilities in the statement of
net position with previously capitalized items related to debt issuance
reported as expenses in the statement of activities.
Amortization of premium 198,908
Amortization of deferred loss on refunding (39,869)
Compensated absences 550,135
Net pension liability 12,859,888
Net OPEB liability (asset)(7,042,356)
Pension-related deferred outflows of resources (284,420)
Pension-related deferred inflows of resources (10,264,945)
OPEB-related deferred outflows of resources 3,079,272
OPEB-related deferred inflows of resources 4,947,155
Certain revenues deferred in the governmental revenues are recognized
in the statement of activities (40,120)
(396,079)
Change in net position of governmental activities 34,648,758$
Internal service funds are used by management to charge the costs of
activities such as information technology, insurance, equipment
acquisition and maintenance, and certain employee benefits to
governmental funds. The portion of the net expense of these internal
service funds arising out of their transactions with governmental funds
is reported with governmental activities because they service those
activities.
Governmental funds report capital outlays as expenditures. However, in
the statement of activities, the cost of those assets are capitalized and
depreciated over their estimated useful lives, which is reported as
depreciation expense. Expenditures for capital assets reported as:
Long term debt principal payments are reported as expenditures in the
governmental funds but are not reported as expenses in the statement
of activities.
The changes in the amounts below do not provide or require the use of
current financial resources and therefore are not reported as revenues
or expenditures in the governmental funds:
The schedule below reconciles the net changes in fund balances reported on the governmental funds
statement of revenues, expenditures and changes in fund balances, which measures only changes in
current assets and current liabilities on the modified accrual basis, with the change in net position of
governmental activities reported in the statement of activities, which is prepared on the full accrual basis.
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CITY OF CUPERTINO, CALIFORNIA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES – BUDGET AND ACTUAL
For the year ended June 30, 2022
See accompanying notes to financial statements.
32.
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Revenues
Taxes 66,571,053$ 75,627,490$ 85,079,013$ 9,451,523$
Use of money and property 1,251,220 1,251,220 (5,341,211) (6,592,431)
Intergovernmental 5,093,946 10,365,946 4,384,812 (5,981,134)
Licenses and permits 3,140,195 33,594,629 4,141,902 (29,452,727)
Charges for services 12,320,922 16,061,509 14,592,031 (1,469,478)
Fines and forfeitures 225,000 225,000 370,159 145,159
Other revenue 1,000,555 1,643,661 1,941,050 297,389
Total revenues 89,602,891 138,769,455 105,167,756 (33,601,699)
Expenditures
Current
Administration 9,009,957 9,557,105 7,492,277 2,064,828
Law enforcement 15,756,350 15,756,350 15,715,815 40,535
Public and environmental affairs 2,369,287 2,211,383 2,063,176 148,207
Administrative services 5,378,147 5,648,948 5,525,888 123,060
Recreation services 7,348,805 7,465,969 4,729,438 2,736,531
Community development 12,871,834 12,330,569 11,188,200 1,142,369
Public works 25,572,670 28,622,249 23,327,366 5,294,883
Capital outlay 208,000 1,068,025 396,356 671,669
Total expenditures 78,515,050 82,660,598 70,438,516 12,222,082
Excess of revenues
over expenditures 11,087,841 56,108,857 34,729,240 (21,379,617)
Other financing sources (uses)
Transfers in 45,000 5,092,387 15,000 (5,077,387)
Transfers (out)(11,251,984) (26,124,371) (21,425,477) 4,698,894
Total other financing
sources (uses)(11,206,984) (21,031,984) (21,410,477) (378,493)
Net change in fund balance (119,143)$ 35,076,873$ 13,318,763 (21,758,110)$
Beginning fund balance 96,850,791
Ending fund balance 110,169,554$
Budgeted Amounts
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CITY OF CUPERTINO, CALIFORNIA
TRANSPORTATION SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES – BUDGET AND ACTUAL
For the year ended June 30, 2022
See accompanying notes to financial statements.
33.
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Revenues
Use of money and property -$ -$ (375,355)$ (375,355)$
Intergovernmental 3,004,034 3,004,034 3,025,691 21,657
Charges for services 3,978 3,978 25,210 21,232
Other revenue 87,057 87,057 3,245 (83,812)
Total revenues 3,095,069 3,095,069 2,678,791 (416,278)
Expenditures
Current
Public works 4,467,837 4,961,040 3,566,689 1,394,351
Capital outlay 3,315,000 7,704,485 3,261,133 4,443,352
Total expenditures 7,782,837 12,665,525 6,827,822 5,837,703
Deficiency of revenues
under expenditures (4,687,768) (9,570,456) (4,149,031) 5,421,425
Other financing sources (uses)
Transfers in 6,672,824 6,672,824 6,672,824 -
Transfers (out)- (105,235) (105,235) -
Total other financing
sources (uses)6,672,824 6,567,589 6,567,589 -
Net change in fund balance 1,985,056$ (3,002,867)$ 2,418,558 5,421,425$
Beginning fund balance 9,409,837
Ending fund balance 11,828,395$
Budgeted Amounts
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CITY OF CUPERTINO, CALIFORNIA
HOUSING DEVELOPMENT SPECIAL REVENUE FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCES – BUDGET AND ACTUAL
For the year ended June 30, 2022
See accompanying notes to financial statements.
34.
Variance with
Final Budget
Actual Positive
Original Final Amounts (Negative)
Revenues
Taxes 3,611,855$ 3,611,855$ 36,000$ (3,575,855)$
Use of money and property 3,300 3,300 (161,249) (164,549)
Intergovernmental 463,996 801,854 787,172 (14,682)
Charges for services - - 3,040 3,040
Other revenue - - 4,037 4,037
Total revenues 4,079,151 4,417,009 669,000 (3,748,009)
Expenditures
Current
Community development 1,818,104 1,566,766 1,439,502 127,264
Total expenditures 1,818,104 1,566,766 1,439,502 127,264
Deficiency of revenues
under expenditures 2,261,047 2,850,243 (770,502) (3,620,745)
Other financing sources (uses)
Transfers out - (200,000) - 200,000
Total other financing
sources (uses)- (200,000) - 200,000
Net change in fund balance 2,261,047$ 2,650,243$ (770,502) (3,420,745)$
Beginning fund balance 7,948,113
Ending fund balance 7,177,611$
Budgeted Amounts
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MAJOR PROPRIETARY FUNDS
35.
Proprietary funds account for City operations financed and operated in a manner similar to a private
business enterprise. The intent of the City is that the cost of providing goods and services be financed
primarily through user charges.
The City has identified the funds below as major proprietary funds for fiscal 2021 - 22.
Resources Recovery Fund: This fund accounts for activity related to the collection, disposal, and recycling
of solid waste. A private company has been issued an exclusive franchise to perform these services.
Recreation Programs Fund: This fund accounts for activities of the City's community centers and park
facilities.
Cupertino Sports Center Fund: This fund accounts for the operation and maintenance of the Cupertino
Sports Center.
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CITY OF CUPERTINO, CALIFORNIA
PROPRIETARY FUNDS
STATEMENT OF NET POSITION
June 30, 2022
See accompanying notes to financial statements.
36.
Governmental
Cupertino Nonmajor Activities -
Resources Recreation Sports Enterprise Internal Service
Recovery Programs Center Fund Totals Funds
ASSETS
Current assets
Cash and cash investments (Note 2)5,933,225$ 3,246,435$ 1,970,200$ 1,192,375$ 12,342,235$ 7,451,026$
Accounts receivable 129,930 558 1,000 170 131,658 -
Total current assets 6,063,155 3,246,993 1,971,200 1,192,545 12,473,893 7,451,026
Noncurrent assets
Net OPEB asset (Note 11)5,001 36,852 57,212 - 99,065 81,129
Capital assets (Note 5):
Nondepreciable - 184,667 - - 184,667 7,828
Depreciable, net of -
accumulated depreciation 513 539,207 1,344,308 20,874 1,904,902 2,970,540
Total noncurrent assets 5,514 760,726 1,401,520 20,874 2,188,634 3,059,497
Total assets 6,068,669 4,007,719 3,372,720 1,213,419 14,662,527 10,510,523
DEFERRED OUTFLOWS OF RESOURCES
Related to pension (Note 10)212,882 175,395 118,601 58,696 565,574 519,129
Related to OPEB (Note 11)96,483 67,343 78,977 13,099 255,902 346,302
Total deferred outflows of resources 309,365 242,738 197,578 71,795 821,476 865,431
LIABILITIES
Current liabilities
Accounts payable and accruals 101,906 234,207 62,250 38,577 436,940 118,829
Accrued payroll and benefits 289 - - - 289 72
Due to other funds (Note 4)- - - - - 539,204
Compensated absences (Note 1):4,652 7,150 3,648 1,477 16,927 36,841
Claims payable (Note 9)- - - - - 282,000
Unearned revenue 83,693 393,601 535,236 94,631 1,107,161 -
Total current liabilities 190,540 634,958 601,134 134,685 1,561,317 976,946
Noncurrent liabilities
Compensated absences (Note 1)54,884 84,361 43,036 17,428 199,709 283,079
Claims payable (Note 9)- - - - - 1,287,000
Net pension liability (Note 10)882,091 740,638 484,580 250,235 2,357,544 1,925,943
Total noncurrent liabilities 936,975 824,999 527,616 267,663 2,557,253 3,496,022
Total liabilities 1,127,515 1,459,957 1,128,750 402,348 4,118,570 4,472,968
DEFERRED INFLOWS OF RESOURCES
Related to pension (Note 10)189,264 152,244 129,814 26,645 497,967 799,855
Related to OPEB (Note 11)50,257 61,536 76,567 - 188,360 186,139
Total deferred inflows of resources 239,521 213,780 206,381 26,645 686,327 985,994
NET POSITION (Note 7)
Net investment in capital assets 513 723,874 1,344,308 20,874 2,089,569 2,978,368
Unrestricted 5,010,485 1,852,846 890,859 835,347 8,589,537 2,938,624
Total Net Position 5,010,998$ 2,576,720$ 2,235,167$ 856,221$ 10,679,106$ 5,916,992$
Business-type Activities - Enterprise Funds
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CITY OF CUPERTINO, CALIFORNIA
PROPRIETARY FUNDS
STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION
For the year ended June 30, 2022
See accompanying notes to financial statements.
37.
Governmental
Cupertino Nonmajor Activities -
Resources Recreation Sports Enterprise Internal Service
Recovery Programs Center Fund Totals Funds
Operating revenues
Charges for services 1,530,871$ 1,148,250$ 2,451,149$ 555,103$ 5,685,373$ 5,136,902$
Other 14,812 145,878 345,180 47,675 553,545 2,818
Total operating revenue 1,545,683 1,294,128 2,796,329 602,778 6,238,918 5,139,720
Operating expenses
Salaries and benefits 487,062 521,877 422,614 145,634 1,577,187 3,509,214
Materials and supplies 374,497 361,169 475,002 165,714 1,376,382 1,648,724
Contractual services 972,908 627,619 2,389,161 341,004 4,330,692 165,673
Insurance and claims and premium - - - - - 901,544
Depreciation (Note 5)3,314 107,052 109,369 2,832 222,567 926,453
Total operating expenses 1,837,781 1,617,717 3,396,146 655,184 7,506,828 7,151,608
Operating income (loss)(292,098) (323,589) (599,817) (52,406) (1,267,910) (2,011,888)
Nonoperating revenues
Investment Income (194,967) (107,180) (62,422) (39,875) (404,444) (202,688)
Gain on sale of capital assets - - - - - 17,645
Total nonoperating revenues (194,967) (107,180) (62,422) (39,875) (404,444) (185,043)
Income (loss) before transfers (487,065) (430,769) (662,239) (92,281) (1,672,354) (2,196,931)
Transfers in (Note 4)- 806,809 - 79,992 886,801 1,800,852
Changes in net position (487,065) 376,040 (662,239) (12,289) (785,553) (396,079)
Net position - beginning of year 5,498,063 2,200,680 2,897,406 868,510 11,464,659 6,313,071
Net position - end of year 5,010,998$ 2,576,720$ 2,235,167$ 856,221$ 10,679,106$ 5,916,992$
Business-type Activities - Enterprise Funds
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CITY OF CUPERTINO, CALIFORNIA
PROPRIETARY FUNDS
STATEMENT OF CASH FLOWS
For the year ended June 30, 2022
See accompanying notes to financial statements.
38.
Governmental
Cupertino Nonmajor Activities -
Resources Recreation Sports Enterprise Internal Service
Recovery Programs Center Fund Totals Funds
Cash flows from operating activities
Cash received from customers 1,632,285$ 1,410,873$ 2,835,405$ 638,627$ 6,517,190$ 5,139,720$
Cash payments to suppliers for
goods and services (1,319,013) (916,916) (2,921,916) (479,723) (5,637,568) (1,927,943)
Cash payments to employees for salaries
and benefits (554,532) (582,418) (478,358) (144,200) (1,759,508) (3,820,153)
Cash payments for judgment and claims - - - - - (706,544)
Net cash provided (used) by operating activities (241,260) (88,461) (564,869) 14,704 (879,886) (1,314,920)
Cash flows from noncapital financing activities
Transfers in - 806,809 - 79,992 886,801 1,800,852
Cash flows from noncapital financing activities - 806,809 - 79,992 886,801 1,800,852
Cash flows from capital and related financing activities
Acquisition of capital assets - (182,809) (38,798) - (221,607) (559,009)
Sale of capital assets - - - - - 17,645
Cash flows from capital and related - (182,809) (38,798) - (221,607) (541,364)
financing activities
Cash Flows from investing activities
Interest received (194,967) (107,180) (62,422) (39,875) (404,444) (202,688)
Cash flows from investing activities (194,967) (107,180) (62,422) (39,875) (404,444) (202,688)
Net cash flows (436,227) 428,359 (666,089) 54,821 (619,136) (258,120)
Cash and investments at beginning of year 6,369,452 2,818,076 2,636,289 1,137,554 12,961,371 7,709,146
Cash and investments at end of year 5,933,225$ 3,246,435$ 1,970,200$ 1,192,375$ 12,342,235$ 7,451,026$
Reconciliation of operating income (loss) to
to net cash provided by operating activities:
Operating income (loss)(292,098)$ (323,589)$ (599,817)$ (52,406)$ (1,267,910)$ (2,011,888)$
Adjustments to reconcile operating income to
net cash provided by operating activities:
Depreciation 3,314 107,052 109,369 2,832 222,567 926,453$
Change in assets, deferred outflows of
resources, liabilities and deferred inflows
of resources
Accounts receivable 2,909 1,305 280 (170) 4,324 -
Due to retirement system (40,429) (33,267) (28,576) (4,992) (107,264) (179,226)
Due to OPEB system (17,313) (13,841) (17,127) (9,674) (57,955) (76,973)
Accounts payable and accruals 28,392 71,872 (57,753) 26,995 69,506 (113,546)
Unearned revenue 83,693 115,440 38,796 36,019 273,948 -
Compensated absences (9,728) (13,433) (10,041) 16,100 (17,102) (54,740)
Claims payable - - - - - 195,000
Net cash provided (used) by operating
activities (241,260)$ (88,461)$ (564,869)$ 14,704$ (879,886)$ (1,314,920)$
Business-type Activities - Enterprise Funds
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
39.
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Reporting Entity: The City of Cupertino, California (the City) was incorporated on October 3, 1955, under
the laws of the State of California. The City operates under a Council - City Manager form of government
and provides services through the following departments: Administrative Services, Community
Development, City Manager, Parks and Recreation, Public and Environmental Affairs, and Public Works.
Fire services are provided by the Santa Clara County Fire District, and the City contracts with the Santa
Clara County Sheriff’s Department for police services, and with Recology for garbage and recycling
services.
The accompanying basic financial statements include all funds and boards and commissions that are
controlled by the City Council. The basic financial statements include the City's blended component unit
entity for which the City is considered to be financially accountable. A blended component unit, although a
legally separate entity, is in substance, part of the City's operations and so data from this unit is combined
with the City.
Blended Component Unit: The Cupertino Public Facilities Corporation (the Corporation) was incorporated
in May 1986, under the Nonprofit Public Benefit Corporation Law of the State of California. The Corporation
was organized as a nonprofit corporation solely for the purpose of assisting the City in the acquisition,
construction, and financing of public improvements which are of public benefit to the City. The Corporation,
after acquiring certain properties from the City, leases these back to the City. The lease money provides
the funds for the debt service for the Certificates of Participation issued by the Corporation to acquire the
properties. The Corporation does not issue separate financial statements, since it is reported separately in
the City's basic financial statements.
Measurement Focus, Basis of Accounting and Basis of Presentation: The City's basic financial statements
are prepared in conformity with accounting principles generally accepted in the United States. The
Government Accounting Standards Board (GASB) is the acknowledged standard setting body for
establishing accounting and financial reporting standards followed by governmental entities in the United
States.
Government-wide Statements: The Statement of Net Position and the Statement of Activities display
information about the primary government (the City) and its component units. These statements include the
financial activities of the overall City government and distinguish between the governmental and business-
type activities of the City. Governmental activities generally are financed through taxes, intergovernmental
revenues, and other nonexchange transactions. Business-type activities are financed in whole or in part by
fees charged to external parties.
The Statement of Activities presents a comparison between expenses and program revenues for each
segment of the business-type activities of the City and for each function of the City's governmental activities.
Expenses include direct and indirect types. Direct expenses are those that are specifically associated with
a program or function and, therefore, are clearly identifiable to a particular function. Indirect expenses such
as depreciation, information technology, insurance and equipment replacement are included in expenses
for individual activities and functions. Program revenues include (a) charges paid by the recipients of goods
or services offered by the programs and (b) grants and contributions that are restricted to meeting the
operational or capital needs of a particular program. Revenues that are not classified as program revenues,
including taxes, are presented as general revenues. Program revenues and direct expenses related to
interfund services are included and indirect expenses funded by interfund transfers are excluded from the
Statement of Activities. The Statement of Net Position eliminates interfund balances between governmental
funds and interfund balances between proprietary funds.
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
40.
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Fund Financial Statements: The fund financial statements provide information about the City's funds,
including blended component units. Separate statements for each fund category — governmental and
proprietary — are presented. The emphasis of fund financial statements is on major individual governmental
and enterprise funds, each of which is displayed in a separate column. All remaining governmental funds
are aggregated and reported as nonmajor funds.
Proprietary fund operating revenues, such as charges for services, result from exchange transactions
associated with the principal activity of the fund. Exchange transactions are those in which each party
receives and gives up essentially equal values. Nonoperating revenues, such as subsidies and investment
earnings, result from nonexchange transactions or ancillary activities.
Major Funds: The City's major governmental and enterprise funds are identified and presented separately
in the fund financial statements. All other funds, called nonmajor funds, are combined and reported in a
single column, regardless of their fund type.
Major funds are defined as funds, which have either assets (plus deferred outflows), liabilities (plus deferred
inflows), revenues or expenditures in excess of 10 percent of their fund-type total and five percent of the
aggregate total for both governmental funds and enterprise funds. The General Fund is always a major
fund. The City may select other funds it believes should be presented as major funds.
The City reported the following major governmental funds in the accompanying financial statements:
The General Fund is the general operating fund of the City. It is used to account for all financial
resources except those that are required to be accounted for in another fund.
The Transportation Special Revenue Fund accounts for the City's gas tax, vehicle registration fees and
grant revenues and expenditures related to the maintenance and construction of City streets. All
revenue in this fund is restricted exclusively for street and road purposes including related engineering
and administrative expenses. Management considers this fund qualitatively major and has elected to
present this fund as such, even if mathematically it does not qualify per applicable GASB requirements.
The Housing Development Special Revenue Fund accounts for the Federal Housing and Community
Development Grant Program activities administered through the County. Monies collected from
developers that mitigate the impact of housing needs are also included. Monies in this fund are
governed by the program's rules.
The Public Facilities Corporation Debt Service Fund accounts for the payments of principal and interest
on certificates of participation issued to provide for the financing of City Hall, Library, Wilson Park,
Memorial Park, and other City facilities.
Capital Improvement Projects Capital Projects Fund Accounts for activities related to the acquisition or
construction of major capital facilities.
The City reports the following enterprise funds as major funds in the accompanying financial statements:
The Resources Recovery Fund accounts for activity related to the collection, disposal, and recycling of
solid waste. A private company has been issued an exclusive franchise to perform these services.
The Recreation Programs Fund accounts for activities of the City's community centers and park
facilities.
The Cupertino Sports Center Fund accounts for activities of the City’s sports center facility.
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
41.
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The City also reports the following fund types:
Internal Service Funds. These funds account for workers' compensation, management information
systems maintenance and replacement, equipment maintenance and replacement, retiree health costs,
accrued leave payouts, and long-term disability coverage which are provided to other departments on
a cost-reimbursement basis.
Basis of Accounting: The government-wide and proprietary financial statements are reported using the
economic resources measurement focus and the full accrual basis of accounting. Revenues are recorded
when earned and expenses are recorded at the time liabilities are incurred, regardless of when the related
cash flows take place.
Governmental funds are reported using the current financial resources measurement focus and the
modified accrual basis of accounting. Under this method, revenues are recognized when measurable and
available. The City considers all revenues reported in the governmental funds to be available if the revenues
are collected within sixty days after year-end. Expenditures are recorded when the related fund liability is
incurred, except for principal and interest on long-term debt which are recognized as expenditures to the
extent the City has provided financial resources to a debt service fund for payment of these liabilities that
mature early in the following year. General capital asset acquisitions are reported as expenditures in
governmental funds. Proceeds from long-term debt and acquisitions under capital leases are reported as
other financing sources.
Unearned revenues are considered on a full accrual basis, while unavailable revenues are based on the
modified accrual measure.
Property taxes, transient occupancy taxes, utility taxes, franchise taxes, interest and special assessments
are susceptible to accrual. Other receipts and taxes are recognized as revenue when the cash is received.
Sales taxes collected and held by the state at year end on behalf of the City are also recognized as revenue.
Sales tax consultant payments which are contingent on revenues collected are netted against the related
revenues.
Under the terms of grant agreements, the City may fund certain programs with a combination of cost
reimbursement grants, categorical block grants, and general revenue. The City's policy is to first apply
restricted grant resources to such programs, followed by general revenues if necessary. Grant revenues
are recognized after eligibility and billing occurs, but may be a deferred inflow if not received within sixty
days of year-end. Because of the cost-reimbursement and recognition nature of some grants, certain
capital project funds may carry deficit fund balances until billing and receipt of grants. The City may also
front the capital outlays with cash advances from other funds.
Non-exchange transactions, in which the City gives or receives value without directly receiving or giving
equal value in exchange, include property taxes, grants, entitlements, and donations. On the accrual basis,
revenue from property taxes is recognized in the fiscal year for which the taxes are levied or assessed.
Revenue from grants is recognized as described above. Entitlement and donation revenues are recognized
when cash is received.
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
42.
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Budgetary Practices: The budget of the City is a detailed operating plan which identifies estimated costs
and results in relation to estimated revenues. The budget includes (1) the programs, projects, services and
activities to be provided during the fiscal year; (2) estimated revenue available to finance the operating plan;
and (3) the estimated spending requirements of the operating plan. The budget represents a process
through which policy decisions are made, implemented and controlled. The City prohibits expending funds
for which there is no legal appropriation. Operating appropriations lapse at fiscal year end.
In May of each year, the City Manager submits to the City Council a proposed budget for the fiscal year
beginning July 1. Public hearings on the proposed budget are held during the month of June and the
budgets for all fund types are legally adopted by Resolution prior to June 30. Original budget amounts are
presented on the accompanying budgetary statements include these legally adopted amounts.
The City's legal level of budgetary control is at the functional level for the general fund and at the fund level
for other funds. The City Manager is responsible for controlling the City's expenditures in accordance with
the adopted budget. The City Manager is authorized to administer and transfer appropriations between
budget accounts within the operating budget when in his opinion such transfers become necessary for
administrative purposes. Any revision which increases total appropriations must be approved by the City
Council. Requests for additional personnel or capital outlay also require the approval of the City Council.
Budgets for governmental funds are adopted on a basis consistent with generally accepted accounting
principles. Budget information is presented for the general, special revenue and debt service funds only.
Capital projects funds are budgeted on a long-term project-by-project basis and, hence, budgets for these
funds are not presented in the basic financial statements. The Traffic Impact Fund does not have a legally
adopted budget. During the fiscal year, no funds had expenditures which exceeded appropriations.
Cash and Investments: The City pools its cash resources, consisting of cash and investments, of all funds
for investment except for restricted funds generally held by an outside fiscal agent. Cash amounts are
reported net of outstanding warrants. Investments are stated at fair value, except for money market mutual
funds which are reported at amortized cost. Adjustments to fair value, as well as dividend and interest
income received is recorded by the City in its governmental funds in the Use of money and property caption
while proprietary funds report these items as Investment income.
Capital Assets: Capital assets are recorded at cost or estimated historical cost if purchased or constructed.
Donated capital assets are recorded at their estimated acquisition value on the date donated. Public
domain (infrastructure) capital assets consisting of roads, bridges, curbs, gutters, medians, sidewalks,
drainage and lighting systems have been capitalized and depreciated. Capital assets are defined as assets
with an initial individual cost of more than $5,000 for general capital assets and $100,000 for intangible
assets.
Depreciation is recorded using the straight-line method over the following useful lives:
Buildings 15 – 25 years
Improvements 10 – 15 years
Vehicles 4 – 10 years
Street equipment 3 – 20 years
Water equipment 3 – 50 years
Office equipment 3 – 5 years
Road, curbs, gutters, sidewalks, medians and bridges 30 – 40 years
Streetlights 20 years
Storm drain structure and mains 40 years
Traffic signals 20 years
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
43.
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Major outlays for capital assets and improvements are capitalized as projects are constructed. For
enterprise funds, interest incurred during the construction phase is reflected in the capitalized value of the
asset constructed, net of interest earned on the invested proceeds over the same period. Some capital
assets may be acquired using federal and state grant funds, or they may be contributed by developers or
other governments. These contributions are accounted for as revenues at the time the capital assets are
contributed.
Claims and Judgment Payable: Claims and judgments payable are accrued when the liability is incurred
and the amount can be reasonably estimated. Claims and judgments payable are recorded in an internal
service fund for workers' compensation and long-term disability, and other claims and judgments are
recorded in the General Fund or enterprise funds, as appropriate.
Compensated Absences: Compensated absences comprise vested accumulated vacation and sick leave.
The City's liability for compensated absences is recorded in governmental or business-type activities as
appropriate. The liability for compensated absences is determined annually. For all governmental funds,
amounts expected to be "permanently liquidated," such as what is due to be paid because of a realized
employment action, are recorded as fund liabilities; the long-term portion is recorded in the Statement of
Net Position.
Compensated absences are liquidated by the fund that has recorded the liability. The long-term portion of
governmental activities compensated absences are liquidated primarily by the General Fund, using the
Compensated Absences and Long-Term Disability internal service fund to account for termination payouts.
The changes in compensated absences for the year ended June 30, 2022 were as follows:
Governmental Business-Type
Activities Activities Total
Beginning balance $ 5,295,199 $ 233,737 $ 5,528,934
Additions (280,094) (9,295) (289,389)
Reductions (324,784) (7,806) (332,590)
Ending balance $ 4,690,321 $ 216,636 $ 4,906,957
Current portion $ 540,130 $ 16,927 $ 557,057
Non-current portion $ 4,150,191 $ 199,709 $ 4349,900
Deferred Outflows/Inflows of Resources: In addition to assets, the statement of financial position or balance
sheet reports a separate section for deferred outflows of resources. This separate financial statement
element, deferred outflows of resources, represents a consumption of net position or fund balance that
applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure)
until then. The City reports differences between expected and actual experience, changes in pension and
OPEB assumptions, loss on pension and OPEB investments, and contributions made subsequent to the
measurement date as well. Differences between expected and actual experience and changes in pension
and OPEB plan assumptions are deferred and amortized over the average of the expected remaining
service lives of employees who are provided with benefits through the pension and OPEB plans. Loss on
pension and OPEB investments are deferred and amortized over five years. Employer contributions made
subsequent to the measurement date and change in proportionate share are deferred and recognized as a
reduction of the net pension and net OPEB liability in the subsequent reporting year.
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
44.
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
In addition to liabilities, the statement of financial position or balance sheet reports a separate section for
deferred inflows of resources. This separate financial statement element, deferred inflows of resources,
represents an acquisition of net position or fund balance that applies to a future period(s) and so will not be
recognized as an inflow of resources (revenue) until that time. Under the accrual basis of accounting
differences between expected and actual experience are deferred and amortized over the average of the
expected remaining service lives of all employees who are provided with benefits through the pension and
OPEB plans. The amounts for deferred lease revenues represent future revenues related to the leasing
arrangements the City entered into for some of its assets. This is amortized over the life of the lease
contract on the straight-line basis.
Property Tax Calendar: All property taxes are levied and collected by the County of Santa Clara. Secured
taxes are levied on July 1, are due in two installments on November 1 and February 1 and become
delinquent after December 10 and April 10. Unsecured taxes are levied on July 1 and become delinquent
on August 31. The lien date for secured and unsecured property taxes is January 1.
The City, in fiscal year 1993-94, adopted an alternative method of property tax distribution (the "Teeter
Plan"). Under this method, the City receives 100 percent of its secured property tax levied in exchange for
foregoing any interest and penalties collected on delinquent taxes. The City receives remittances as a
series of advances made by the County during the year.
Interfund Transactions: Transactions constituting reimbursements to a fund for expenditures/expenses
initially made from it that are properly applicable to another fund, are recorded as expenditures/expenses
in the reimbursing fund and as reductions of expenditures/expenses in the fund that is reimbursed.
Statement of Cash Flows: For purposes of reporting cash flows for the City's proprietary funds, pooled
cash and investments are considered cash equivalents as the proprietary funds can access pooled cash
and investments in a manner similar to a demand deposit account.
Prepaid Items: Prepaid items are reported under the consumption method, which recognizes the
expenditures/expense in the period associated with the service rendered or goods consumed.
Use of Estimates: The preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates and assumptions that
affect certain amounts and disclosures. Accordingly, actual results could differ from those estimates.
Implementation of Governmental Accounting Standards Board (GASB) Pronouncements: Management
adopted the provisions of the following Governmental Accounting Standards Board (GASB) Statements,
which became effective during the year ended June 30, 2022.
In June 2017, the GASB issued Statement No. 87, Leases. The objective of this Statement is to better
meet the information needs of financial statement users by improving accounting and financial reporting for
leases by governments. This Statement increases the usefulness of governments’ financial statements by
requiring recognition of certain lease assets and liabilities for leases that previously were classified as
operating leases and recognized as inflows of resources or outflows of resources based on the payment
provisions of the contract. It establishes a single model for lease accounting based on the foundational
principle that leases are financings of the right to use an underlying asset. This Statement is effective for
the City’s fiscal year ended June 30, 2022 and management has implemented the provisions of the
Statement by calculating the lease receivables and deferred inflows of resources related to these lease
contracts as of July 1, 2021, as well as the lease assets and related lease liabilities as applicable per Note
13.
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
45.
NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
The City then recognized the current year payment provisions as inflows and outflows as appropriate. The
beginning balances of certain footnotes were not required to be restated to reflect this implementation, nor
was a restatement of beginning net position due to the change in accounting principle required.
The City also adopted the provisions of the following pronouncements, noting no impact of the City’s
financial statements:
GASB Statement No. 89 – Accounting for Interest Costs Incurred before the End of a Construction Period
GASB Statement No. 91 – Conduit Debt Obligations
GASB Statement No. 92 – Omnibus 2021 (except for paragraphs 11 and 13 which were implemented in
the last fiscal year)
GASB Statement No. 93 – Replacement of Interbank Offered Rates
GASB Statement No. 97 – Certain Component Unit Criteria, and Accounting and Financial Reporting for
Internal Revenue Code Section 457 Deferred Compensation Plans (except for paragraphs 4 and 5 which
were implemented in the last fiscal year)
Fair Value Measurements: Fair value is defined as the price that would be received to sell an asset or paid
to transfer a liability in an orderly transaction between market participants at the measurement date. The
City categorizes its fair value measurements within the fair value hierarchy established by generally
accepted accounting principles. The fair value hierarchy categorizes the inputs to valuation techniques
used to measure fair value into three levels based on the extent to which inputs used in measuring fair
value are observable in the market:
Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 inputs are inputs — other than quoted prices included within level 1 — that are observable for
an asset or liability, either directly or indirectly.
Level 3 inputs are unobservable inputs for an asset or liability.
If the fair value of an asset or liability is measured using inputs from more than one level of the fair value
hierarchy, the measurement is considered to be based on the lowest priority level input that is significant to
the entire measurement.
NOTE 2 – CASH AND INVESTMENTS
Primary Government: The City's pooled idle funds are invested pursuant to investment policy guidelines
adopted by the City Council. The objectives of the policy are to invest funds to the fullest extent possible
and to invest in accordance with the provisions of the California Government Code with the priority of safety,
liquidity and yield. The policy addresses the safekeeping of securities, types of investment instruments,
diversification, maturities, reporting requirements, and internal control. The City maintains a cash and
investment pool that is available for use by all funds. Each fund type's portion of this pool is displayed on
the Statement of Net Position and the balance sheet as "cash and investments."
Policies: California Law requires banks and savings and loan institutions to pledge government securities
with a market value of 110 percent of the City's cash on deposit, or first trust deed mortgage notes with a
market value of 150 percent of the deposit, as collateral for these deposits. Under California Law, this
collateral is held in a separate investment pool by another institution in the City's name and places the City
ahead of general creditors of the institution.
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
46.
NOTE 2 – CASH AND INVESTMENTS (Continued)
The City and its fiscal agents invest in individual investments and in investment pools. Individual
investments are evidenced by specific identifiable securities instruments, or by an electronic entry
registering the owner in the records of the institution issuing the security, called the book entry system.
Security instruments owned by the City are held in safekeeping by a third party custodian acting as agent
for the City under the terms of a custody agreement.
The City's investments are carried at fair value with the exception of money market mutual funds, which
are carried at amortized cost. The City adjusts the carrying value of its investments to reflect their fair value
at each fiscal year end, and it includes the effects of these adjustments in investment income for that fiscal
year.
Classification: The City's total cash and investments, at fair value, are presented on the financial statements
in the following allocation:
Primary Government
Cash and investments $ 202,344,997
Restricted cash and investments:
Held by fiscal agent for pension 17,240,051
Held by fiscal agent for bond repayments 8,333
Total cash and investments $ 219,593,381
The bank value of the City’s cash deposits is $32,249,699 with cash per books of $32,665,499. All deposits
in excess of FDIC coverage limits were collateralized with securities at year end.
Authorized Investments by the City: The City's Investment Policy and the California Government Code
allow the City to invest its pooled idle funds in the following, under limits and provisions that address interest
rate risk, credit risk, and concentration of credit risk. This does not include the City's investments of debt
proceeds held by fiscal agents that are governed by the provisions of debt agreements of the City.
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
47.
NOTE 2 – CASH AND INVESTMENTS (Continued)
Minimum Maximum Maximum
Maximum Credit Percentage of Investment in
Authorized Investment Type Maturity Quality Portfolio One Issuer
U.S. Treasury Obligations 5 years N/A None None
U.S. Agency Securities * 5 years N/A None None
California Local Agency Investment
Fund (LAIF) N/A N/A Up to $65 million None
Non-negotiable Certificates of
Deposits (time deposits) 5 years N/A 30%*** 10% of portfolio;
5% of issuer’s net worth **
State of California registered state
warrants, treasury notes, or bonds 5 years N/A None None
California local agency bonds, notes,
warrants, or other obligations 5 years N/A None None
Bond issued by the local agency 5 years N/A None None
Bankers' Acceptances 180 days N/A 40% None
Commercial Paper 270 days A-1+P-1 25% 10% of portfolio; 5% of
issuer’s net worth; 10% of
outstanding paper of
Issuer. **
Negotiable Certificates of Deposit 5 years N/A 30% 10% of portfolio; 5% of
issuer’s net worth. **
Repurchase Agreements 1 year N/A None 10% of portfolio; 5% of
issuer’s net worth. **
Medium Term Corporate Notes 5 years A or better 30% 10% of portfolio; 5% of
issuer’s net worth. **
Money market mutual funds investing
in U.S. Treasury, Government Agency
securities or repurchase agreements
collateralized by U.S. Treasury or
Government Agency securities 5 years Aaa/AAA 20% None
Supranationals 5 years AA or better 30% 10% of portfolio
* Securities issued by agencies of the federal government such as the Government National Mortgage Association (GNMA),
the Federal Farm Credit System (FFCB), the Federal Home Loan Bank (FHLB), the Federal National Mortgage Association
(FNMA), the Student Loan Marketing Association (SLMA), and the Federal Home Loan Mortgage Association (FHLMC).
** Represents restriction in which the City's investment policy is more restrictive than the California Government Code.
*** 30% maximum percent of portfolio if using a private sector entity to assist in the placement of the time deposits. No maximum
for others.
Authorized Investments by Debt Agreements: The City must maintain required amounts of cash and
investments with trustees or fiscal agents under the terms of certain debt issues. These funds are
unexpended bond proceeds or are pledged reserves to be used if the City fails to meet its obligations under
these debt issues. The California Government Code requires these funds to be invested in accordance
with City ordinances, bond indentures or State statutes. The City's Investment Policy allows investments
of bond proceeds to be governed by provisions of the related bond indentures. The following identifies the
investment types that are authorized for investments held by fiscal agents under the terms of the bond
indentures of the related debt issue:
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
48.
NOTE 2 – CASH AND INVESTMENTS (Continued)
Minimum Maximum
Maximum Credit Percentage of
Authorized Investment Type Maturity Quality Portfolio
Cash or obligations of the U.S. including U.S. Treasury obligations N/A N/A None
Federal agencies obligations which represent
full faith and credit of the U.S. N/A N/A None
Direct federal agencies obligations which are not
fully guaranteed by the full faith and credit of the U.S. N/A N/A None
U.S. dollar denominated deposit accounts, federal funds and
bankers' acceptances with domestic commercial banks 360 days P-1, A-1+, A-1 None
Commercial Paper 270 days P-1, A-1 None
Money market funds N/A Aaam or AAAm-G None
Pre-refunded municipal obligations that are not callable prior
to maturity or as to which irrevocable instructions have been Highest
given to call on the date specified in the notice N/A rating category None
Municipal obligations or General obligations of states N/A Aaa, AAA, A2, A None
California Local Agency Investment Fund (LAIF) N/A N/A Up to $65 million
Shares in a California common law trust established pursuant
to Title 1, Division 7, Chapter 5 of the California Government
Code which invests exclusively in investments permitted by
Section 53635 of Title 5, Division 2, Chapter of the California
Government Code, as it may be amended. N/A N/A None
Interest Rate Risk: Interest rate risk is the risk that changes in market interest rates will adversely affect
the fair value of an investment. Generally, the longer the maturity of an investment the greater the sensitivity
of its fair value to changes in market interest rates.
Information about the sensitivity of the fair values of the City's investments (including investments held by
bond trustees) to market interest rate fluctuations is provided by the following table that shows the
distribution of the City's investments by maturity or earliest call date:
12 Months 13 to More than
Investment Type or less 24 Months 24 Months Total
U.S. Treasury Securities -$ -$ 34,667,431$ 34,667,431$
Corporate Notes - - 39,671,519 39,671,519
U.S. Agency Notes
Federal Home Loan Mortgage Corporation - - 8,749,022 8,749,022
Federal National Mortgage Association - - 14,830,810 14,830,810
Federal Home Loan Banks - - 5,134,002 5,134,002
Federal Farm Credit Banks - - 4,011,600 4,011,600
Local Agency Investment Fund 21,059,752 - - 21,059,752
Municipal Bonds - - 744,596 744,596
Asset-Backed Securities - - 20,119,630 20,119,630
Supranationals - - 11,552,549 11,552,549
Collateralized Mortgage Obligations - - 7,882,726 7,882,726
Money Market Mutual Funds - Restricted for Pension (PARS) 17,240,051 - - 17,240,051
Money Market Mutual Funds 1,264,194 - - 1,264,194
Total Investments 39,563,997$ -$ 147,363,885$ 186,927,882
Cash in banks and on hand 32,665,499
Total Cash and Investments
219,593,381$
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
49.
NOTE 2 – CASH AND INVESTMENTS (Continued)
The City is a participant in the Local Agency Investment Fund (LAIF) that is regulated by California
Government Code Section 16429 under the oversight of the Treasurer of the State of California. The Local
Investment Advisory Board (Board) has oversight responsibility for LAIF. The Board consists of five
members as designated by State Statute. The City reports its investment in LAIF at the fair value amount
provided by LAIF, which is the sme as the value of the pool share. The balance is available for withdrawal
on demand, and is based on the accounting records maintained by LAIF, which are recorded on an
amortized cost basis. Included in LAIF's investment portfolio are U.S. Treasuries, Federal Agency
obligations, time deposits, negotiable certificates of deposits, commercial paper, corporate bonds, and
security loans. These investments had weighted average maturity of 311 days.
Money market mutual funds are available for withdrawal on demand. At June 30, 2022, money market
mutual funds, used for pooled investment and held by fiscal agent purposes, had a weighted average
maturity of 45 days or less.
Fair Value Hierarchy: The City categorizes its fair value measurements within the fair value hierarchy
established by generally accepted accounting principles. The hierarchy is based on the valuation inputs
used to measure fair value of the assets. Level 1 inputs are quoted prices in an active market for identical
assets; Level 2 inputs are significant other observable inputs; and Level 3 inputs are significant
unobservable inputs.
The following is a summary of the fair value hierarchy of the fair value of investments of the City as of
June 30, 2022:
Investments by Fair Value Level Level 1 Level 2 Total
U.S. Treasury Securities -$ 34,667,431$ 34,667,431$
Corporate Notes - 39,671,519 39,671,519
U.S. Agency Notes
Federal Home Loan Mortgage Corporation - 8,749,022 8,749,022
Federal National Mortgage Association - 14,830,810 14,830,810
Federal Home Loan Banks - 5,134,002 5,134,002
Federal Farm Credit Banks - 4,011,600 4,011,600
Asset-Backed Securities - 20,119,630 20,119,630
Collateralized Mortgage Obligations - 7,882,726 7,882,726
Supranationals - 11,552,549 11,552,549
Municipal Bonds - 744,596 744,596
Total Investments -$ 147,363,885$ 147,363,885
Investments Measured at Amortized Cost:
Money Market Mutual Funds 1,264,194
Money Market Mutual Funds - Restricted for Pension (PARS)17,240,051
Investments Exempt from Fair Value Hierarchy:
Local Agency Investment Fund 21,059,752
Cash in banks and on hand 32,665,499
Total Cash and Investments 219,593,381$
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
50.
NOTE 2 – CASH AND INVESTMENTS (Continued)
Investments classified in Level 1 of the fair value hierarchy include securities valued using quoted prices in
active markets. Federal Agency Securities and other U.S. Treasury Securities, classified in Level 2 of the
fair value hierarchy are valued using matrix pricing techniques maintained by various pricing vendors.
Matrix pricing is used to value securities based on the securities' relationship to benchmark quoted prices.
Fair value is defined as the quoted market value on the last trading day of the period. These prices are
obtained from various pricing sources by the custodian bank. The California Local Agency Investment Fund
(LAIF) is valued using factors provided in the Pooled Money Investment Account (PMIA) Performance
Report by the State Treasurer’s Office. Money market funds and negotiable certificates of deposit are
exempt from fair value measurement and are reported at amortized cost.
Credit Risk: Credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of
the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating
organization. Presented below is the actual rating as of June 30, 2022 for each investment type, including
those with fiscal agents, as provided by Moody's ratings:
Concentration of Credit Risk: The City's investment policy contains certain limitations on the amount that
can be invested in any one issuer. In certain categories, these limitations are more restrictive than those
required by California Government Code Sections 53600 et seq. Excluding those issued or explicitly
guaranteed by the U.S. government and investments in the local agency investment fund and mutual funds,
the City had the following investments that represent five percent or more of total City-wide investments:
Issuer Investment Type Amount
Federal Home Loan Mortgage Corporation (FHLMC) U.S. Agency Notes $ 8,749,022
Federal Home Loan Banks (FHLB) U.S. Agency Notes 5,134,002
Federal National Mortgage Association (FNMA) U.S. Agency Notes 14,830,810
Federal Farm Credit Banks (FFCB) U.S. Agency Notes 4,011,600
Investment Type Ratings Total
Money Market Mutual Funds Aaa 18,504,245$
Corporate Notes A1,A2,A3 39,671,519
U.S. Agency Notes
Federal Home Loan Mortgage Corporation Aaa 8,749,022
Federal National Mortgage Association Aaa 14,830,810
Federal Home Loan Banks Aaa 5,134,002
Federal Farm Credit Banks Aaa 4,011,600
Asset-Backed Securities Aaa 20,119,630
Collateralized Mortgage Obligations Aaa 7,882,726
Supranationals Aaa 11,552,549
Municipal Bonds Aa2 744,596
U.S. Treasury Securities Aaa 34,667,431
Not Rated:
Local Agency Investment Fund Not Rated 21,059,752
Total Investments 186,927,882$
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
51.
NOTE 3 – LOANS RECEIVABLE
Housing Program Loans: On June 30, 1995, the City loaned $821,000 to Community Housing Developers,
a California nonprofit public benefit corporation. The note bears interest at three percent per annum,
compounded annually, payable to the extent of surplus cash, and all unpaid principal and interest due
June 30, 2035. As of June 30, 2022, the balance remaining on the loan was $821,000. The loan was
issued using resources in the Housing Development Fund and is considered governmental activities.
On June 6, 1996, the City loaned $320,000 to Cupertino Community Services, a California nonprofit public
benefit corporation. The note bears interest at three percent per annum and due on July 14, 2026. As of
June 30, 2022, the balance on the loan was $147,130. The loan was issued using resources in the Housing
Development Fund and is considered governmental activities.
On September 11, 2017 the City loaned $3,672,000 to Stevens Creek, L.P., a California limited partnership.
The note bears interest at three percent per annum for 55 years. After the completion of construction of the
development, no later than April 30th of each calendar year, the Developer shall make repayments of the
loan in an amount equal to the City loan percentage of the lenders’ share of residual receipts. The payments
shall be credited first against accrued interest and then against outstanding principal of the loan, and shall
be accompanied by the developer’s report of residual receipts. As of June 30, 2022, the balance remaining
on the loan was $3,672,000. The loan was issued using resources in the Housing Development Fund and
is considered governmental activities.
In addition to these loans, the City had housing and other loans receivable that were completely repaid as
of June 30, 2022.
NOTE 4 – INTERFUND TRANSACTIONS
Transfers between funds during the fiscal year ended June 30, 2022 were as follows:
Fund Making Transfers Fund Receiving Transfers Amount Transferred
General Fund Transportation Special Revenue Fund $6,457,824 (C)
Public Financing Corporation Debt Service Fund 2,621,000 (B,C)
Capital Improvement Projects Capital Projects Fund 10,025,000 (A)
Recreation Enterprise Fund 806,809 (C)
Non-major Enterprise Funds 79,992 (C)
Internal Service Funds 1,434,852 (D)
Transportation Special Revenue Fund Capital Improvement Projects Capital Projects Fund 105,235 (A)
Capital Improvements Projects
Capital Projects Fund Transportation Special Revenue Fund 215,000 (A)
Non-major Governmental Funds 3,650,000 (A)
Non-major Governmental Funds General Fund 15,000 (E)
Internal Service Funds 366,000
Total Interfund Transfers $25,776,712
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
52.
NOTE 4 – INTERFUND TRANSACTIONS (Continued)
The reasons for these transfers are set forth below:
(A) To fund capital projects.
(B) For annual lease payment for 2020A Certificates of Participation debt service.
(C) Operating subsidy from General Fund.
(D) To fund IT operations, personnel costs associated with staffing special project, and compensated
absences and retiree health.
(E) To fund purchase of trees
Current Interfund Balances: Current interfund balances arise in the normal course of business and are
expected to be repaid shortly after the end of the fiscal year. As of June 30, 2022, the Equipment Revolving
Internal Service Fund owed the General Fund $539.204.
Interfund Advances: Interfund advances are balances between funds that are not expected to be repaid
within the current fiscal year. As of June 30, 2022, the General Fund advanced $3,000,000 to the Capital
Improvement Projects Capital Projects Fund for advance funding of planned projects that will be repaid in
subsequent years.
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
53.
NOTE 5 – CAPITAL ASSETS
A summary of changes in governmental activities capital assets is as follows:
Balance at Balance at
July 1, 2021 Additions Deletions Transfers June 30, 2022
Governmental activities:
Capital assets not being depreciated:
Land 64,786,669$ -$ -$ -$ 64,786,669$
Easements 19,615,039 - - - 19,615,039
Construction in progress 15,950,996 12,848,688 - (5,401,035) 23,398,649
Total general government capital
assets not being depreciated 100,352,704 12,848,688 - (5,401,035) 107,800,357
Capital assets being depreciated:
Buildings 46,540,557 - - 1,223,356 47,763,913
Improvements other than buildings 61,129,702 - - 134,224 61,263,926
Machinery and equipment 4,340,441 - (10,549) 200,037 4,529,929
Roads, curbs, gutters, sidewalks, medians
and bridges 179,773,593 - - 3,760,619 183,534,212
Streetlights 9,219,638 - - 82,799 9,302,437
Storm drain structure and mains 37,373,158 - - - 37,373,158
Traffic signals 6,418,246 - - - 6,418,246
Total capital assets being depreciated 344,795,335 - (10,549) 5,401,035 350,185,821
Less accumulated depreciation for:
Buildings (31,962,639) (1,683,655) - - (33,646,294)
Improvements other than buildings (43,377,323) (2,481,693) - - (45,859,016)
Machinery and equipment (3,065,019) (251,640) 10,549 - (3,306,110)
Roads, curbs, gutters, sidewalks, medians
and bridges (112,872,141) (2,729,484) - - (115,601,625)
Streetlights (7,599,818) (431,927) - - (8,031,745)
Storm drain structure and mains (33,542,309) (139,739) - - (33,682,048)
Traffic signals (5,801,115) (109,103) - - (5,910,218)
Total accumulated depreciation (238,220,364) (7,827,241) 10,549 - (246,037,056)
Total general government capital
assets being depreciated, net 106,574,971 (7,827,241) - 5,401,035 104,148,765
Internal service fund capital assets:
Capital assets not being depreciated:
Construction in progress - 559,011 - (551,183) 7,828
Total internal fund capital
assets not being depreciated - 559,011 - (551,183) 7,828
Capital assets being depreciated:
Machinery and equipment 12,218,251 - - 551,183 12,769,434
Less accumulated depreciation (8,872,439) (926,455) - - (9,798,894)
Total internal fund capital
assets being depreciated, net 3,345,812 (926,455) - 551,183 2,970,540
Governmental activities capital assets, net 210,273,487$ 4,654,003$ -$ -$ 214,927,490$
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
54.
NOTE 5 – CAPITAL ASSETS (Continued)
Depreciation expense was charged to functions and programs based on their usage of the related assets.
Depreciation expense was charged to governmental activities as follows:
Governmental Activities
Administration $ 191,767
Public and Environment Affairs 16,437
Administrative Services 29,744
Parks and Recreation 170,634
Public Works 7,418,659
Total $ 8,827,241
Depreciation expense was charged to the business-type activities as follows:
Business-Type Activities
Resources Recovery $ 3,314
Blackberry Farm 2,832
Cupertino Sports Center 109,369
Recreation Program 107,051
Total $ 222,566
Balance at Balance at
July 1, 2021 Additions Deletions Transfers June 30, 2022
Business-type activities:
Capital assets not being depreciated:
Construction in progress 125,331$ 221,605$ -$ (162,269)$ 184,667$
Total capital assets not being depreciated 125,331 221,605 - (162,269) 184,667
Capital assets being depreciated:
Buildings 2,029,925 - - 43,764 2,073,689
Improvements other than buildings 2,089,743 - - 86,171 2,175,914
Machinery and equipment 711,119 - - 32,334 743,453
Total capital assets being depreciated 4,830,787 - - 162,269 4,993,056
Less accumulated depreciation for:
Buildings (484,434) (88,789) - - (573,223)
Improvements other than buildings (1,753,209) (107,531) - - (1,860,740)
Machinery and equipment (627,945) (26,246) - - (654,191)
Total accumulated depreciation (2,865,588) (222,566) - - (3,088,154)
Total capital assets being depreciated, net 1,965,199 (222,566) - 162,269 1,904,902
Business-type activity capital assets, net 2,090,530$ (961)$ -$ -$ 2,089,569$
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
55.
NOTE 6 – LONG-TERM DEBT
Cupertino Public Facilities Corporation Certificates of Participation:
The Cupertino Public Facilities Corporation issued Certificates of Participation to provide financing for the
construction of the Community Center, improvements of the City Hall and the Library in July 1986; purchase
of Wilson Park in 1989; finance the Memorial Park Expansion in 1990; and purchase the Blackberry Farm
and Fremont Older site in 1991. The Cupertino Public Facilities Corporation, as lessor, leased real property
to the City (under the Lease Agreement with the lessee) and assigned the base rental payments to the
trustee for the benefit of the owners of the certificates of participation. The rental payments which represent
the pledged revenues are scheduled to be sufficient in both time and amount, when the principal and
interest of the certificates are due, which was the case for the year ended June 30, 2022.
On May 9, 2012, $43,940,000 principal amount of 2012 Refinancing Certificates of Participation (2012
COPs) were issued to refund the 2002 COPs, to fund a reserve fund for the 2012 COPs, and pay costs
incurred in connection with issuance.
On September 29, 2020, $22,040,000 principal amount of 2020A Certificates of Participation (2020 COPs)
were issued to refund the 2012 COPs and pay costs incurred in connection with issuance. The proceeds
were placed into an escrow account, along with funds from the City’s 2012 COPs Reserve and on
October 30, 2020, the 2012 COPS were prepaid, resulting no amounts outstanding as of June 30, 2022 for
the 2012 COPs. The result of the transaction was an economic gain of $3,133,819.
The 2020A COPs are payable by a pledge of revenues from the lease payments payable by the City
pursuant to the Lease Agreement between the Cupertino Public Facilities Corporation and the City for the
use and possession of the Site and Facility as described in the Lease Agreement. The City also covenanted
in the Lease Agreement to include all lease payments in its annual budget. Total debt service payments
remaining on the 2020 COPs is $21,412,000 payable through June 1, 2030. For the year ended June 30,
2022, the bonds had $1,880,000 of principal and $796,000 interest due.
Original Balance Balance
Issue June 30,June 30, Current
Amount 2021 Additions Retirements 2022 Portion
2020A Certificates
of Participation
4%, due 06/01/2030 $22,040,000 19,900,000$ -$ 1,880,000$ 18,020,000$ 1,955,000$
Issuance Premium 3,447,737 - 198,908 3,248,829 -
Total long-term debt 23,347,737$ -$ 2,078,908$ 21,268,829$ 1,955,000$
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
56.
NOTE 6 – LONG-TERM DEBT (Continued)
Annual debt service requirements for the 2020A COPS are shown below:
NOTE 7 – NET POSITION AND FUND BALANCES
Net Position is measured on the full accrual basis while Fund Balance is measured on the modified accrual
basis.
Net Position: The government-wide and proprietary fund financial statements utilize a net position
presentation. Net position is categorized as follows:
Net investment in capital assets - This category groups all capital assets including, infrastructure, into one
component of net position. Accumulated depreciation and outstanding balances of debt that are
attributable to the acquisition, construction or improvement of these assets reduce the balance in this
category.
Restricted - This category represents net position that has external restrictions imposed by creditors,
grantors, contributors or laws or regulations of other governments and restrictions imposed by law through
constitutional provisions or enabling legislation.
Unrestricted - This category represents net position of the City that do not meet the definition of "net
investment in capital assets" or "restricted."
Fund Balances: As prescribed by GASB Statement No. 54, governmental funds report fund balance in
classifications based primarily on the extent to which the City is bound to honor constraints on the specific
purposes for which amounts in the funds can be spent. Fund balances for governmental funds are made
up of the followings:
Nonspendable Fund Balance - includes amounts that are (a) not in spendable form, or (b) legally or
contractually required to be maintained intact. The "not in spendable form" criterion includes items that are
not expected to be converted to cash, for example: prepaid items, property held for resale and long term
notes receivable.
Restricted Fund Balance - includes amounts that can be spent only for the specific purposes stipulated by
external resource providers, constitutionally or through enabling legislation. Restrictions may effectively be
changed or lifted only with the consent of resource providers.
For the Year
Ending June 30 Principal Interest
2023 1,955,000$ 720,800$
2024 2,035,000 642,600
2025 2,115,000 561,200
2026 2,200,000 476,600
2027 2,285,000 388,600
2028-2030 7,430,000 602,200
Total 18,020,000$ 3,392,000$
Governmental Activities
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
57.
NOTE 7 – NET POSITION AND FUND BALANCES (Continued)
Committed Fund Balance - includes amounts that can only be used for the specific purposes determined
by a formal action of the City's highest level of decision-making authority, the City Council. Commitments
may be changed or lifted only by the City taking the same formal action (resolution) that imposed the
constraint originally.
Assigned Fund Balance - comprises amounts intended to be used by the City for specific purposes that are
neither restricted nor committed. Intent is expressed by the City Council or official to which the City Council
has delegated the authority to assign amounts to be used for specific purposes. Through the adopted
budget, the City Council establishes assigned fund balance policy levels and also sets the means and
priority for the City Manager to fund these levels.
Unassigned Fund Balance - is the residual classification for the General Fund and includes all amounts not
contained in the other classifications. Unassigned amounts are technically available for any purpose. Only
the General Fund reports unassigned positive fund balance. A governmental fund other than the General
Fund may report a negative unassigned fund balance if expenditures incurred for a specific purpose exceed
the amounts that are restricted, committed or assigned to those purposes.
In circumstances when an expenditure may be made for which amounts are available in multiple fund
balance classifications, the fund balance in General Fund will generally be used in the order of restricted,
unassigned, and then assigned reserves. In other governmental funds, the order will generally be restricted
and then assigned.
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
58.
NOTE 7 – NET POSITION AND FUND BALANCES (Continued)
Fund balances for all major and nonmajor governmental funds as of June 30, 2022, were distributed as
follows:
NOTE 8 – COMMITMENTS AND CONTINGENCIES
Federal and State Grant: The City participates in a number of federal and state grant programs subject to
financial and compliance audits by the grantors or their representatives. Audits of certain grant programs,
including those for the year ended June 30, 2022, have yet to be conducted. The amount, if any, of
expenditures that may be disallowed by the granting agencies cannot be determined at this time.
Management believes that such disallowances, if any, would not have a material effect on the financial
statements.
Encumbrances: The City uses encumbrances to control expenditure commitments for the year.
Encumbrances represent commitments related to executor contracts not yet performed and purchase
orders not yet filled. Commitments for such expenditure of monies are encumbered to reserve a portion of
applicable appropriations. Encumbrances still open at year end are not accounted for as expenditures and
liabilities, but as restricted, or assigned fund balance.
Public Capital Other
Housing Facilities Improvements Governmental
General Transportation Development Corporation Projects Funds Total
Nonspendable:
Loans receivable 439,199$ -$ -$ -$ -$ -$ 439,199$
Advances to other funds 3,000,000 - - - - - 3,000,000
Prepaid items 107,479 - - - - - 107,479
Subtotal 3,546,678 - - - - - 3,546,678
Restricted for:
Public access television 1,492,810 - - - - - 1,492,810
Debt service 23,621 - - 8,350 - - 31,971
PRSP Section 115 Trust 17,240,051 - - - - - 17,240,051
Storm drain system - - - - - 4,033,799 4,033,799
Parks and open space - - - - - 21,302,884 21,302,884
Environmental management - - - - - 1,309,649 1,309,649
Streets and road projects - 11,828,395 - - - 720,197 12,548,592
Housing programs - - 7,177,611 - - - 7,177,611
Subtotal 18,756,482 11,828,395 7,177,611 8,350 - 27,366,529 65,137,367
Committed for:
Economic uncertainty I 24,000,000 - - - - - 24,000,000
Sustainability reserve 127,891 - - - - - 127,891
Capital project reserve 10,000,000 - - - - - 10,000,000
Subtotal 34,127,891 - - - - - 34,127,891
Assigned to:
Encumbrances 5,041,682 - - - - - 5,041,682
Capital projects - - - - 34,922,310 166,579 35,088,889
Subtotal 5,041,682 - - - 34,922,310 166,579 40,130,571
Unassigned 48,696,821 - - - - - 48,696,821
Total 110,169,554$ 11,828,395$ 7,177,611$ 8,350$ 34,922,310$ 27,533,108$ 191,639,328$
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
59.
NOTE 8 – COMMITMENTS AND CONTINGENCIES (Continued)
As of June 30, 2022, the City had the following encumbrances outstanding:
Governmental Funds:
General Fund $ 5,041,681
Transportation Special Revenue Fund 2,181,032
Housing Development Special Revenue Fund 59,022
Capital Improvements Projects Capital Projects Fund 3,672,662
Other Governmental Funds 1,741,273
Total Encumbrances $ 12,695,670
Consulting Agreement for Sales Taxes: The City entered into agreements (commitments) with two
companies to provide services consisting of the assessment and creation of new sales and use tax revenue
sources for the City. The City agreed to pay the companies based on a sliding scale payment schedule
dependent on the level of new sales tax revenue realized by the City as defined in the consulting
agreements. These agreements qualify as tax abatements under the provisions of GASB Statement 77.
However, due to legal restrictions per the California Revenue and Taxation Code, Section 7056, additional
disclosures cannot be provided.
Santa Clara County Vehicle Registration Fee (VRF): The City is required to report VRF revenues,
expenditures and fund balances as of the year ended June 30, 2022:
VRF Balance as of July 1, 2021 $ -
VRF Revenue 358,553
VRF Interest 535
VRF Expended (359,088)
VRF Balance as of June 30, 2022 $ -
NOTE 9 – LIABILITIES UNDER SELF-INSURANCE AND RISK MANAGEMENT
General and Property Liability: The City is self-insured for the first $250,000 of general and property liability
for each occurrence, and the excess (up to $10,000,000 for each occurrence and annual aggregate) is
covered through the City's participation in the Pooled Liability Assurance Network Joint Powers Authority
(PLAN JPA – formerly the Association of Bay Area Governments Pooled Liability Assurance Network or
ABAG PLAN). The risk pool consists of 28 agencies within the San Francisco Bay Area. The stated purpose
of the PLAN JPA is to provide certain levels of liability insurance coverage, claims management, risk
management services, and legal defense to its participating members. PLAN JPA is governed by a Board
of Directors, which comprises officials appointed by each participating member. Premiums paid to PLAN
JPA are subject to possible refund based on the results of actuarial studies and approval by the Board of
Directors. Complete financial statements for PLAN JPA may be obtained from their offices at the following
address: PLAN JPA, c/o Sedgwick, 1750 Creekside Oaks Drive Suite 200, Sacramento, CA, 95833.
Premiums are revised each year based on the City's claims experience and risk exposure. For the year
ended June 30, 2022, the City paid ABAG PLAN premiums of $14,602.
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
60.
NOTE 9 – LIABILITIES UNDER SELF-INSURANCE AND RISK MANAGEMENT (Continued)
Workers' Compensation Liability: The City belongs to the Public Risk Innovation, Solutions and
Management (PRISM) (formerly CSAC Excess Insurance Authority (EIA)), a joint power authority which
provides excess workers' compensation liability claims coverage above the City's self-insured retention of
$500,000 per occurrence. Losses above the self-insured retention are pooled with excess reinsurance
purchased to a $50,000,000 statutory limit. EIA was established in 1979 for the purpose of creating a risk
management pool for all California public entities. EIA is governed by a Board of Directors consisting of
representatives of its member public entities. Complete financial statements for EIA may be obtained from
their offices at the following address: CSAC Excess Insurance Authority, Finance Department, EIA 75 Iron
Point Circle, Suite 200, Folsom, CA 95630. For the year ended June 30, 2022, the City paid premiums of
$158,781.
It is the City's practice to obtain biennial actuarial studies for the self-insured workers' compensation liability.
The claims liabilities included in the workers' compensation internal service fund is based on the results of
actuarial studies and include amounts for claims incurred but not reported and loss adjustment expenses.
Claim liabilities are calculated considering the effects of inflation, recent claim settlement trends, including
frequency and amount of payouts, and other economic and social factors. Inflation of 2.5 percent, annual
rate of return of two percent, claim severity increase at 2.5 percent were assumed. In the current year,
management used actuarial estimates based on a 90 percent confidence level.
Settlements have not exceeded insurance coverage in the past three years.
Changes in the balances of workers' compensation and general claims liabilities during the years ended
June 30 are as follows:
2022 2021
Claims liability, beginning of year $ 1,374,000 $ 1,527,000
Incurred claims and changes in estimate 671,344 (117,896)
Claim payments and credits (476,344) (35,104)
Total claims liability, end of year 1,569,000 1,374,000
Less current portion (282,000) (245,000)
Non-current portion $ 1,287,000 $ 1,129,000
NOTE 10 – DEFINED BENEFIT PENSION PLAN
Plan Descriptions and Summary of Balances by Plan: The City has one defined benefit pension plan. The
Miscellaneous Plan (Plan) is an Agent-Multiple Employer Plan. Benefit provisions under the Plan is
established by State statute and City Ordinance. All qualified permanent and probationary employees are
eligible to participate in the Plan for which they are an eligible member based on their employment position
with the City.
The Plan is administered by the California Public Employees' Retirement System (CalPERS) which acts as
a common investment and administrative agent for its participating member employers. CalPERS issues
publicly available reports that include a full description of the pension plans regarding benefit provisions,
assumptions and membership information that can be found on the CalPERS website at
www.calpers.ca.gov.
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
61.
NOTE 10 – DEFINED BENEFIT PENSION PLAN (Continued)
For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to
pensions, and pension expense, information about the fiduciary net position of the Miscellaneous Plan and
additions to/deductions from the Plan's fiduciary net position have been determined on the same basis as
they are reported by the CalPERS Financial Office. For this purpose, benefit payments (including refunds
of employee contributions) are recognized when currently due and payable in accordance with the benefit
terms. Investments are reported at fair value.
Below is a summary of the deferred outflows of resources, net pension liabilities and deferred inflows of
resources by Plan:
Deferred Outflows Net Pension Deferred Inflows
of Resources Liability of Resources
Miscellaneous $ 8,882,356 $ 34,058,576 $ 11,658,832
Benefits Provided: CalPERS provides service retirement and disability benefits, annual cost of living
adjustments and death benefits to plan members, who must be public employees and beneficiaries.
Benefits are based on years of credited service, equal to one year of full time employment. Members with
five years of total service are eligible to retire at age 50 with statutorily reduced benefits. All members are
eligible for non-duty disability benefits after 10 years of service. The cost of living adjustments for each
plan are applied as specified by the Public Employees' Retirement Law. The Pension Reform Act of 2013
(PEPRA), Assembly Bill 340, is applicable to employees new to CalPERS and hired after December 31,
2012. The Plans' provisions and benefits in effect at June 30, 2022, are summarized as follows:
Hire date
Prior to On or after
January 1, 2013 January 1, 2013
Benefit formula 2.7% @ 55 2.0% @ 62
Benefit vesting schedule 5 years service 5 years service
Benefit payments monthly for life monthly for life
Minimum retirement age 50 52
Monthly benefits, as a % of eligible compensation 2% to 2.7% 1% to 2%
Required employee contribution rates 8.00% 7.00%
Required employer contribution rates 23.54% 29.63%
Employees Covered: As of the June 30, 2020 actuarial valuation date (most current), the following
employees were covered by the benefit terms of the Plan:
Inactive employees or beneficiaries currently receiving benefits 249
Inactive employees entitled to but not yet receiving benefits 149
Active employees 201
Total 599
Contributions: Section 20814(c) of the California Public Employees' Retirement Law requires that the
employer contribution rates for all public employers be determined on an annual basis by the actuary and
shall be effective on the July 1 following notice of a change in the rate. Funding contributions for both Plans
are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rate
is the estimated amount necessary to finance the costs of benefits earned by employees during the year,
with an additional amount to finance any unfunded accrued liability. The City is required to contribute the
difference between the actuarially determined rate and the contribution rate of employees.
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
62.
NOTE 10 – DEFINED BENEFIT PENSION PLAN (Continued)
Net Pension Liability: The City's net pension liability for the Plan is measured as the total pension liability,
less the pension plan's fiduciary net position. The net pension liability of the Plan is measured as of June 30,
2020 using an annual actuarial valuation as of June 30, 2020 rolled forward to June 30, 2021 using standard
update procedures. A summary of principal assumptions and methods used to determine the net pension
liability is shown below.
Actuarial Assumptions: The total pension liabilities in the June 30, 2021 actuarial valuations were
determined using the following actuarial assumptions:
Valuation Date June 30, 2020
Measurement Date June 30, 2021
Actuarial Cost Method Entry-Age Normal Cost Method
Actuarial Assumptions:
Discount Rate 7.15%
Inflation 2.50%
Payroll Growth 2.75%
Projected Salary Increase Varies by Entry Age and Service (1)
Investment Rate of Return 7.00% (2)
Derived using CaIPERS' Membership
Mortality Data for all Funds (3)
(1) Depending on age, service and type of employment
(2) Net of pension plan investment expenses and administrative expenses, including inflation
(3) The mortality table used was developed based on CaIPERS' specific data. The table includes 15 years of
mortality improvements using Society of Actuaries Scale BB. For more details on this table, please refer
to the CaIPERS 2017 experience study report available on CaIPERS website.
All other actuarial assumptions used in the June 30, 2020 valuation were based on the results of a
December 2017 actuarial experience study for the period 1997 to 2015, including updates to salary
increase, mortality and retirement rates. Further details of the Experience Study can be found on the
CaIPERS website under Forms and Publications.
Change of Assumptions: None in 2022.
Discount Rate: The discount rate used to measure the total pension liability was 7.15 percent for the Plan.
To determine whether the municipal bond rate should be used in the calculation of a discount rate for each
plan, CaIPERS stress tested plans that would most likely result in a discount rate that would be different
from the actuarially assumed discount rate. Based on the testing, none of the tested plans run out of assets.
Therefore, the current 7.15 percent discount rate is adequate and the use of the municipal bond rate
calculation is not necessary. The long term expected discount rate of 7.15 percent will be applied to all
plans in the Public Employees Retirement Fund (PERF). The stress test results are presented in a detailed
report that can be obtained from the CalPERS website.
The long-term expected rate of return on pension plan investments was determined using a building-block
method in which best-estimate ranges of expected future real rates of return (expected returns, net of
pension plan investment expense and inflation) are developed for each major asset class.
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
63.
NOTE 10 – DEFINED BENEFIT PENSION PLAN (Continued)
In determining the long-term expected rate of return, CaIPERS took into account both short-term and long-
term market return expectations as well as the expected pension fund cash flows. Using historical returns
of all the funds' asset classes, expected compound returns were calculated over the short-term (first 10
years) and the long-term (11-60 years) using a building-block approach. Using the expected nominal returns
for both short-term and long-term, the present value of benefits was calculated for each fund. The expected
rate of return was set by calculating the single equivalent expected return that arrived at the same present
value of benefits for cash flows as the one calculated using both short-term and long-term returns. The
expected rate of return was then set equivalent to the single equivalent rate calculated above and rounded
down to the nearest one quarter of one percent.
Asset Class
New
Strategic
Allocation
Real Return
Years 1 - 10(a)
Real Return
Years 11+(b)
Global Equity 50.00%4.80%5.98%
Fixed Income 28.00%1.00%2.62%
Inflation Assets 0.00%0.77%1.81%
Private Equity 8.00%6.30%7.23%
Real Estate 13.00%3.75%4.93%
Liquidity 1.00%0.00%-0.92%
Total 100.00%
(a) An expected inflation of 2.00% used for this period.
(b) An expected inflation of 2.92% used for this period.
The table above reflects the long-term expected real rate of return by asset class. The rate of return was
calculated using the capital market assumptions applied to determine the discount rate and asset allocation.
These rates of return (presented as geometric means) are net of administrative expenses.
Changes in Net Pension Liability: The changes in the Net Pension Liability for the City's Miscellaneous
Plan are as follows:
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
64.
NOTE 10 – DEFINED BENEFIT PENSION PLAN (Continued)
Sensitivity of the Net Pension Liability to Changes in the Discount Rate: The following presents the net
pension liability of the City, calculated using the discount rate for the Plan, as well as what the City's net
pension liability would be if it were calculated using a discount rate that is one percentage point lower or
one percentage point higher than the current rate:
Miscellaneous
1% Decrease 6.15%
Net Pension Liability $ 55,121,458
Current Discount Rate 7.15%
Net Pension Liability $ 34,058,576
1% Increase 8.15%
Net Pension Liability $ 16,633,651
Pension Plan Fiduciary Net Position: Detailed information about the Plan's fiduciary net position is available
in the separately issued CalPERS financial reports.
Miscellaneous Plan:
Total Pension
Liability
Plan Fiduciary
Net Position
Net Pension
Liability
Balance at June 30, 2020 152,604,961$ 104,091,941$ 48,513,020$
Changes in the year:
Service cost 3,392,942 - 3,392,942
Interest on the total pension liability 10,907,002 - 10,907,002
Change of Assumptions - - -
Differences between actual and expected experience 2,212,836 - 2,212,836
Contribution - employer - 5,957,595 (5,957,595)
Contribution - employee - 1,560,532 (1,560,532)
Net investment income - 23,553,078 (23,553,078)
Administrative expenses - (103,981) 103,981
Other miscellaneous income/(expenses)- - -
Benefit payments, including refunds of employee
contributions (7,937,592) (7,937,592) -
Net changes 8,575,188 23,029,632 (14,454,444)
Balance at June 30, 2021 161,180,149$ 127,121,573$ 34,058,576$
Increase (Decrease)
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
65.
NOTE 10 – DEFINED BENEFIT PENSION PLAN (Continued)
Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions: For the year ended
June 30, 2022, the City recognized pension expense of $3,799,059. As of June 30, 2022, the City reported
deferred outflows of resources and deferred inflows of resources related to pensions from the following
sources:
Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contributions subsequent to measurement date $ 6,396,051 $ -
Differences between actual and expected experience 2,486,305 -
Changes in assumptions - -
Net differences between projected and actual earnings
on plan investments - 11,658,832
Total $ 8,882,356 $ 11,658,832
The $6,396,051 of contributions for the fiscal year ended June 30, 2022 reported as deferred outflows of
resources related to contributions subsequent to the measurement date will be recognized as a reduction
of the net pension liability in the year ended June 30, 2023. Other amounts reported as deferred inflows of
resources related to pensions will be recognized as pension expense as follows:
Year Ended Annual
June 30 Amortization
2022 $ (1,051,611)
2023 (2,005,392)
2024 (2,437,763)
2025 (3,227,761)
$ (9,172,527)
NOTE 11 – OTHER POST EMPLOYMENT BENEFITS (OPEB)
Plan Description: Permanent employees who retire under the City's CaIPERS retirement plan are, pursuant
to their respective collective bargaining agreements, eligible to have their medical insurance premiums paid
by the City. Retirees receive the amount necessary to pay the cost of his/her enrollment, including the
enrollment of his/her family members, in a health benefit plan provided by CalPERS up to the maximum
received by active employees in their respective bargaining unit.
The City contracts with CaIPERS for this insured-benefit plan established under the state Public Employees'
Medical and Hospital Care Act (PEMHCA). The plan offers employees and retirees three CalPERS' self-
funded options, setup as insurance risk pools, or offers various third-party insured health plans. The plan's
medical benefits and premium rates are established by CalPERS and the insurance providers. The City
contribution is established by City resolution. Retirees and active employees pay the difference between
the premium rate and the City's contribution. Premiums and City contributions are based on the plan and
coverage selected by actives and retirees, with the City's potential contribution ranging from zero to $1,605
per month per employee or retiree. The responsibility for benefit payments has transferred to the insurers
and the City does not guarantee the benefits in the event of default by the insurers. A comprehensive
annual financial report of CalPERS, inclusive of their benefit plans, is available at www.calpers.ca.gov.
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
66.
NOTE 11 – OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
The City participates in the Public Agency Retirement System (PARS) Public Agencies Post Retirement
Health Care Plan Trust Program (PARS Trust), an agent-multiple employer irrevocable trust established to
fund other postemployment benefits. The City Council adopted the PARS Public Agencies Post-Retirement
Health Care Plan Trust, including the PARS Public Agencies Post-Retirement Health Care Plan, to fund
medical insurance costs for its retired employees, effective February 17, 2010. The City Council appointed
the City Treasurer, or his/her successor or his/her designee as the City’s plan administrator. The plan
administrator is authorized to execute the PARS legal documents on behalf of the City and to take whatever
additional actions necessary to maintain the City’s participation in the Program and to maintain compliance
of any relevant regulation issued or as may be issued; therefore, authorizing him/her to take whatever
additional actions are required to administer the City’s PARS Plan. The PARS Trust is approved by the
Internal Revenue Code Section 115 and invests funds in equity, bond, and money market mutual funds.
Copies of PARS Trust annual financial report is available at the City's Finance Department.
An employee is eligible for lifetime medical benefits under the OPEB Plan, along with his/her spouse or
declared domestic partner at the time of retirement, if all criteria listed below are met:
The employee was hired or the City Council member was elected prior to August 1, 2004, and the
employee has five or more full-time years of service and the City Council member has five or more
years of elected service with the City of Cupertino; or
The employee was hired or the City Council member was elected on or after August 1, 2004, and
the employee has ten or more full-time and/or elected years of CalPERS service, five years of
which must be from the City of Cupertino; and
The employee is eligible for retirement as defined under the CaIPERS retirement system; and the
employee retires from the City of Cupertino.
In addition, the eligible employee's dependent children at the time of retirement who are under 23 years old
are eligible for medical benefits. In addition to extending the eligibility of dependents from age 23 to age 26
in accordance with the recent healthcare reform act, effective July 1, 2010, employees that retire or resign
from service with the City of Cupertino and who are not eligible for retiree medical benefits can continue on
the City's medical and dental plans provided that they pay the premiums in full.
Plan membership: At January 1, 2021 (the latest information available), Plan membership consisted of the
following:
Inactive plan members or beneficiaries currently receiving benefit payments 148
Inactive plan members entitled to but not yet receiving benefit payments -
Active plan members 173
321
Contributions: OPEB Plan contributions are set by the adopted budget. The cost of the benefits provided
by the OPEB Plan is currently being paid by the City on a fully pre-funded basis. Based on the actuarial
valuation date of January 1, 2021, the annual required contribution rate is 0.54 percent of annual covered
payroll. For the year ended June 30, 2022, the City paid $1,691,000 in healthcare premium payments. Plan
members are not required to contribute to the plan.
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
67.
NOTE 11 – OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
Net OPEB Liability of the City: The components of the net OPEB liability of the City as of June 30, 2022
(expressed in thousands) were as follows:
Total OPEB liability $ 29,871
Plan fiduciary net position 31,340
City's net OPEB liability (asset) $ (1,469)
Plan fiduciary net position as a percentage of the total OPEB liability 105%
Investment rate of return: The long-term expected rate of return on OPEB plan investments was determined
using a building-block method in which best-estimate ranges of expected future real rates of return
(expected returns, net of investment expense and inflation) are developed for each major asset class.
These ranges are combined to produce the long-term expected rate of return by weighting the expected
future real rates of return by the target asset allocation percentage and by adding expected inflation. Best
estimates of geometric real rates of return for each major asset class included in the target asset allocation
as of June 30, 2022 (see the discussion of the Plan’s investment policy) are summarized in the following
table:
Long-Term Expected
Asset Class Real Rate of Return
Fixed income – core 0.53%
Fixed income – high yield 1.68%
Equities – domestic 4.38%
Equities – developed foreign 5.68%
Equities – emerging foreign 6.90%
Real estate 4.31%
Cash 0.36%
Investment policy: The Plan’s policy in regard to the allocation of invested assets is established and may
be amended by the Plan’s Board by a majority vote of its members. It is the policy of the Plan Board to
pursue an investment strategy that reduces risk through the prudent diversification of the portfolio across a
broad selection of distinct asset classes. The Plan’s investment policy discourages the use of cash
equivalents, except for liquidity purposes, and aims to refrain from dramatically shifting asset class
allocations over short time spans. The following was the Board’s adopted asset allocation policy as of
June 30, 2022:
Asset Class Target Allocation
Fixed income 29%
Equities 62%
Real estate 6%
Commodities 2%
Cash 1%
Total 100%
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
68.
NOTE 11 – OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
Concentrations: The Plan did not have investments outside of mutual funds that comprise five percent or
more of the Plan’s total fiduciary net position.
Rate of return: For the year ended June 30, 2022, the annual money-weighted rate of return on
investments, net of investment expense, was -17.43 percent. The money-weighted rate of return expresses
investment performance, net of investment expense, adjusted for the changing amounts actually invested.
Actuarial assumptions: The total OPEB liability was determined by an actuarial valuation as of January 1,
2021, using the previously listed actuarial assumptions, applied to all periods included in the measurement,
unless otherwise specified. Mortality rates were based on the CalPERS mortality assumptions.
Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as
understood by the employer and the plan members) and include the types of benefits provided at the time
of each valuation and the historical pattern of sharing of benefit costs between the employer and plan
members to that point. The actuarial methods and assumptions used include techniques that are designed
to reduce effects of short-term volatility in actuarial accrued liabilities and the actuarial value of assets,
consistent with long-term perspective of the calculations.
The other significant actuarial assumptions used to prepare the City's January 1, 2021 actuarial valuation
include the following:
Valuation date: January 1, 2021
Measurement date: June 30, 2022
Actuarial Cost Method: Entry Age Normal
Amortization Method: Level percent of pay closed
Amortization Period: 10 year
Asset Valuation Method: Market value
Actuarial Assumptions:
Discount Rate 6.50%
Payroll Growth 3.00%
Ultimate Rate of Medical Inflation 4.50%
Mortality (1) CalPERS mortality assumptions
Health Care Trend The annual cost of healthcare is
expected to decrease from
6.5% in 2020 to 4.5% from 2076
and later.
(1) 2017 CalPERS Experience Study, Recipients with attained age of 50
Discount rate: The discount rate used to measure the total OPEB liability was 6.5 percent. The projection
of cash flows used to determine the discount rate assumed that City contributions will be made at rates
equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s
fiduciary net position was projected to be available to make all projected future benefit payments of current
plan members. Therefore, the long-term expected rate of return on OPEB plan investments was applied to
all periods of projected benefit payments to determine the total OPEB liability.
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NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
69.
NOTE 11 – OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
Changes in the Net OPEB Liability: The changes in the City’s net OPEB liability (asset) are (in thousands):
Net Increase (Decrease)
Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability (Asset)
Balance at July 1, 2021 $ 28,626 $ 38,025 $ (9,399)
Changes in the year
Service cost 1,015 - 1,015
Interest on the total OPEB liability 1,921 - 1,921
Change of assumptions - - -
Differences between actual and
expected experience - - -
Contribution – employer - 1,691 (1,691)
Contribution – employee - - -
Net investment income - (6,568) 6,568
Administrative expenses - (117) 117
Benefit payments, including refunds of
Employee contributions (1,691) (1,691) -
Net changes 1,245 (6,685) 7,930
Balance at June 30, 2022 $ 29,871 $ 31,340 $ (1,469)
Sensitivity of the net OPEB liability (asset) to changes in the discount rate: The following presents the net
OPEB asset of the City, as well as what the City’s net OPEB liability would be if it were calculated using a
discount rate that is one-percentage-point lower (5.5 percent) or one-percentage-point higher (7.5 percent)
than the current discount rate (expressed in thousands):
1% Current 1%
Decrease Discount Rate Increase
5.50% 6.50% 7.50%
City of Cupertino’s net OPEB liability
(asset) for the plan $ 2,300 $ (1,469) $ (4,602)
Sensitivity of the net OPEB liability (asset) to changes in the healthcare cost trend rates: The following
presents the net OPEB asset of the City, as well as what the City’s net OPEB liability would be if it were
calculated using healthcare cost trend rates that are one-percentage-point lower (decreasing to 3.5 percent)
or one-percentage-point higher (increasing to 5.5 percent) than the current healthcare cost trend rates
(expressed in thousands):
Current
1% Healthcare Cost 1%
Decrease Trend Rate Increase
City of Cupertino’s net OPEB liability
(asset) for the plan $ (5,087) $ (1,469) $ 2,995
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
(Continued)
70.
NOTE 11 – OTHER POST EMPLOYMENT BENEFITS (OPEB) (Continued)
OPEB Expense and Deferred Inflows of Resources Related to OPEB: For the year ended June 30, 2022,
the City recognized OPEB expense of $572,000. As of June 30, 2022, the City reported deferred inflows of
resources related to OPEB from the following sources (in thousands):
Deferred Outflows Deferred Inflows
of Resources of Resources
Net difference between projected and actual
earnings on investments $ 3,953 $ -
Differences between expected and actual experience - 3,173
Changes in assumption 1,089 8
$ 5,042 $ 3,181
Amounts reported as deferred inflows of resources related to OPEB will be recognized as OPEB expense
as follows (in thousands):
Year Ended Deferred Inflows
June 30 of Resources
2023 $ 101
2024 328
2025 (376)
2026 1,808
Total $ 1,861
NOTE 12 – CONCENTRATION RISK
The City has an economic dependency on revenues generated directly or indirectly from one company. For
the year ended June 30, 2022, more than 10 percent of the City General Fund's total revenues are derived
from the company. The City's operations would be adversely impacted if there are any significant declines
in taxes received from the company.
NOTE 13 – LEASES
The City leases various City assets to other entities via contractual arrangements under the provisions of
GASB Statement No. 87, Leases. The leases include land leases utilized for cell phone towers as well as
property leases of the McClellan Ranch House and the Cupertino Public Library. The City receives fixed
payments from the lessees, with a total of $178,486 recognized as rental revenue and $32,532 recognized
as interest revenue on the lease for the year ended June 30, 2022 and a receivable for the remaining
payments under the leases of $2,495,226.
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO BASIC FINANCIAL STATEMENTS
For the year ended June 30, 2022
71.
NOTE 14 – UPCOMING GASB PRONOUCEMENTS (Continued)
In March 2021, GASB issued Statement No. 94, Public-Private and Public-Public Partnerships and
Availability Payment Arrangements. The primary objectives of this Statement is improve financial reporting
by addressing issues related to public-private and public-public partnership arrangements. This Statement
also provides guidance for accounting and financial reporting for availability payments arrangements. The
requirements of this Statement are effective for the City’s fiscal year ended June 30, 2023. Management
has not yet determined the impact of this statement on the City’s financial statements.
In May 2021, GASB issued Statement No. 96, Subscription-Based Information Technology Arrangements.
This Statement provides guidance on the accounting and financial reporting for subscription-based
information technology arrangements (SBITAs) for government end users (governments). This Statement
(1) defines a SBITA; (2) establishes that a SBITA results in a right-to-use subscription asset—an intangible
asset—and a corresponding subscription liability; (3) provides the capitalization criteria for outlays other
than subscription payments, including implementation costs of a SBITA; and (4) requires note disclosures
regarding a SBITA. The requirements of this Statement are effective for the City’s fiscal year ended
June 30, 2023. Management has not yet determined the impact of this statement on the City’s financial
statements.
In April 2022, the GASB issued Statement No. 99, Omnibus 2022. The objectives of this Statement are to
enhance comparability in accounting and financial reporting and to improve the consistency of authoritative
literature by addressing (1) practice issues that have been identified during implementation and application
of certain GASB Statements and (2) accounting and financial reporting for financial guarantees. The
requirements related to leases, public-private and public-public partnerships, and subscription-based
information technology arrangements are effective for the City’s fiscal year ended June 30, 2023. The
requirements related to financial guarantees and the classification and reporting of derivative instruments
are effective for the City’s fiscal year ended June 30, 2024. Management has not determined what impact,
if any, this Statement will have on its financial statements.
In June 2022, the GASB issued Statement No. 100, Accounting Changes and Error Corrections. The
primary objective of this Statement is to enhance accounting and financial reporting requirements for
accounting changes and error corrections to provide more understandable, reliable, relevant, consistent,
and comparable information for making decisions or assessing accountability. The requirements of this
Statement are effective for the City’s fiscal year ended June 30, 2024. Management has not determined
what impact, if any, this Statement will have on its financial statements.
In June 2022, the GASB issued Statement No. 101, Compensated Absences. The objective of this
Statement is to better meet the information needs of financial statement users by updating the recognition
and measurement guidance for compensated absences. That objective is achieved by aligning the
recognition and measurement guidance under a unified model and by amending certain previously required
disclosures. The requirements of this Statement are effective for the City’s fiscal year ended June 30, 2025.
Management has not determined what impact, if any, this Statement will have on its financial statements.
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REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)
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SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY
AND RELATED RATIOS
For the year ended June 30, 2022
72.
Measurement Date 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021
Total Pension Liability
Service Cost 2,504,228$ 2,444,939$ 2,525,314$ 2,895,549$ 3,058,629$ 3,324,361$ 3,241,719$ 3,392,942$
Interest 7,349,943 7,789,134 8,253,983 8,619,588 9,065,322 9,800,245 10,302,395 10,907,002
Changes of benefit terms - - - - - - - -
Differences between expected and actual experience - 372,917 696,347 (182,397) 1,184,340 4,144,384 444,188 2,212,836
Changes in assumptions - (1,883,633) - 7,125,558 (847,606) - - -
Benefit payments, including refunds of employee contributions (4,351,614) (4,637,005) (5,151,298) (5,346,890) (6,051,845) (6,193,271) (6,815,494) (7,937,592)
Net change in total pension liability 5,502,557 4,086,352 6,324,346 13,111,408 6,408,840 11,075,719 7,172,808 8,575,188
Total pension liability - beginning 98,922,931 104,425,488 108,511,840 114,836,186 127,947,594 134,356,434 145,432,153 152,604,961
Total pension liability - ending (a)104,425,488$ 108,511,840$ 114,836,186$ 127,947,594$ 134,356,434$ 145,432,153$ 152,604,961$ 161,180,149$
Plan fiduciary net position
Contributions - employer 2,891,986$ 3,301,642$ 3,659,170$ 4,183,822$ 4,263,020$ 4,654,841$ 5,308,580$ 5,957,595$
Contributions - employee 1,061,884 1,149,894 1,169,921 1,236,052 1,506,888 1,364,731 1,429,446 1,560,532
Net investment income 11,379,985 1,724,204 466,704 8,749,288 7,347,936 6,096,968 4,975,822 23,553,078
Benefit payments, including refunds of employee contributions (4,351,614) (4,637,005) (5,151,298) (5,346,890) (6,051,845) (6,193,271) (6,815,494) (7,937,592)
Administrative expense - (87,780) (47,536) (115,304) (392,346) (66,707) (140,036) (103,981)
Other miscellaneous Income/(Expense)- - - - - 216 - -
Net change in plan fiduciary net position 10,982,241 1,450,955 96,961 8,706,968 6,673,653 5,856,778 4,758,318 23,029,632
Plan fiduciary net position - beginning 65,566,067 76,548,308 77,999,263 78,096,224 86,803,192 93,476,845 99,333,623 104,091,941
Plan fiduciary net position - ending (b)76,548,308$ 77,999,263$ 78,096,224$ 86,803,192$ 93,476,845$ 99,333,623$ 104,091,941$ 127,121,573$
Net pension liability - ending (a)-(b)27,877,180$ 30,512,577$ 36,739,962$ 41,144,402$ 40,879,589$ 46,098,530$ 48,513,020$ 34,058,576$
Plan fiduciary net position as a percentage of the total pension liability 73.30% 71.88% 68.01% 67.84% 69.57% 68.30% 68.21% 78.87%
Covered payroll 13,080,327$ 13,504,966$ 14,336,969$ 15,595,136$ 16,809,349$ 18,461,490$ 18,662,748$ 20,427,103$
Net pension liability as percentage of covered payroll 213.12% 225.94% 256.26% 263.83% 243.20% 249.70% 259.95% 166.73%
Notes to Schedule:
* - Fiscal year 2015 was the 1st year of implementation, therefore only eight years are shown.
Source: CalPERS Accounting Valuation
Agent Multiple Employer Defined Benefit Retirement Plan - Miscellaneous Plan
Last 10 years*
Benefit changes. The figures above do not include any liability impact that may have resulted from plan changes which occurred after the actuarial valuation date. This applies for voluntary benefit changes
as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).
Changes in assumptions. None in 2020 or 2019. In 2018, demographic assumptions and inflation rate were changed in accordance to the CalPERS Experience Study and Review of Actuarial
Assumptions from December 2017. In 2017, the accounting discount rate reduced from 7.65 percent to 7.15 percent. In 2016, there were no changes. In 2015, amounts reported reflect an adjustment of the
discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense.) In 2014, amounts reported were based on the 7.5 percent
discount rate.
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CITY OF CUPERTINO, CALIFORNIA
SCHEDULE OF CONTRIBUTIONS - PENSION
For the year ended June 30, 2022
73.
2015 2016 2017 2018 2019 2020 2021 2022
Actuarially determined contribution 3,608,853$ 3,659,170$ 4,183,821$ 4,263,020$ 4,654,841$ 5,308,577$ 5,957,573$ 6,396,061$
Contributions in relation to the actuarially determined contributions (3,608,853) (3,659,170) (4,183,821) (4,263,020) (4,654,841) (5,308,577) (5,957,573) (6,396,061)
Contribution deficiency (excess)-$ -$ -$ -$ -$ -$ -$ -$
Covered payroll 13,504,966$ 14,336,969$ 15,595,136$ 16,809,349$ 18,461,490$ 18,662,748$ 20,427,103$ 20,455,494$
Contributions as a percentage of covered payroll 26.72% 25.52% 26.83% 25.36% 25.21% 28.44% 29.17% 31.27%
Notes to Schedule
Valuation date:6/30/2013 6/30/2014 6/30/2015 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020
Methods and assumptions used to determine contribution rates:
Actuarial cost method Entry age
Amortization method Level percentage of payroll, closed
Remaining amortization period 19 Years as of the Valuation Date
Asset valuation method 15 Year Smoothed Market
Inflation 2.50%
Salary increases Varies by Entry age and Service
Investment rate of return
Retirement age
Mortality
* - Fiscal year 2015 was the 1st year of implementation, therefore only eight years are shown.
Source: City of Cupertino's general ledger and CalPERS Actuarial Valuation
Notes to Schedule:
* - Fiscal year 2015 was the 1st year of implementation, therefore only three years are shown.
Agent Multiple Employer Defined Benefit Retirement Plan - Miscellaneous Plan
Last 10 years*
Source: CalPERS Accounting Valuation
7.15% Net of Pension Plan
The probabilities of Retirement are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015.
The probabilities of mortality are based on the 2017 CalPERS Experience Study for the period from 1997 to 2015. Pre-retirement and
Post-retirement mortality rates include 20 years of projected mortality improvement using Scale BB published by the Society of
Actuaries.
Benefit changes. The figures above do not include any liability impact that may have resulted from plan changes which occurred after the actuarial valuation date. This applies for voluntary benefit changes
as well as any offers of Two Years Additional Service Credit (a.k.a. Golden Handshakes).
Changes in assumptions. None in 2019 or 2020. In 2018, demographic assumptions and inflation rate were changed in accordance to the CalPERS Experience Study and Review of Actuarial
Assumptions from December 2017. In 2017, the accounting discount rate reduced from 7.65 percent to 7.15 percent. In 2016, there were no changes. In 2015, amounts reported reflect an adjustment of
the discount rate from 7.5 percent (net of administrative expense) to 7.65 percent (without a reduction for pension plan administrative expense.) In 2014, amounts reported were based on the 7.5 percent
discount rate.
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CITY OF CUPERTINO, CALIFORNIA
SCHEDULE OF CHANGES IN THE NET OPEB LIABILITY
AND RELATED RATIOS
For the year ended June 30, 2022
74.
6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 6/30/2022
Total OPEB liability
Service cost 908$ 1,008$ 865$ 1,009$ 844$ 1,015$
Interest 1,781 1,876 2,005 1,985 2,042 1,921
Changes of benefit terms - - - - - -
Differences between expected and actual experience - - (1,808) - (4,688) -
Changes of assumptions - - (37) 1,412 640 -
Benefit payments (1,333) (1,419) (1,423) (1,141) (1,550) (1,691)
Net change in total OPEB liability 1,356 1,465 (398) 3,265 (2,712) 1,245
Total OPEB liability - beginning 25,650 27,006 28,471 28,073 31,338 28,626
Total OPEB liability - ending (a)27,006$ 28,471$ 28,073$ 31,338$ 28,626$ 29,871$
Plan fiduciary net position
Contributions - employer 1,333 1,419 1,423 1,141 1,550 1,691
Net investment income 2,960 2,365 1,259 219 8,776 (6,568)
Benefit payments (1,333) (1,419) (1,423) (1,141) (1,550) (1,691)
Administrative expense (49) (54) (97) (67) (121) (117)
Net change in fiduciary net position 2,911 2,311 1,162 152 8,655 (6,685)
Plan fiduciary net position - beginning 22,834 25,745 28,056 29,218 29,370 38,025
Plan fiduciary net position - ending (b)25,745$ 28,056$ 29,218$ 29,370$ 38,025$ 31,340$
2.65%
Net OPEB liability (asset) - ending (a-b)1,261$ 415$ (1,145)$ 1,968$ (9,399)$ (1,469)$
Plan fiduciary net position as a percentage of the total OPEB liability 95.33% 98.54% 104.08% 93.72% 132.83% 104.92%
Covered payroll 17,255$ 19,153$ 20,086$ 21,643$ 23,082$ 24,015$
Net OPEB liability (asset) as a percentage of covered payroll 7.31% 2.17% -5.70% 9.09% -40.72% -6.12%
Notes to schedule:
* - Fiscal year 2017 was the 1st year of implementation, therefore only six years are shown.
Single Employer Defined Benefit OPEB Plan
Last 10 years*
Expressed in thousands
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CITY OF CUPERTINO, CALIFORNIA
SCHEDULE OF CONTRIBUTIONS - OPEB
For the year ended June 30, 2022
75.
6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 6/30/2022
Actuarially determined contribution 1,117$ 1,362$ 1,300$ 1,401$ 124$ 129$
Contributions in relation to the actuarially determined contributions 1,333 1,419 1,423 1,141 1,550 1,691
Contribution deficiency (excess)(216)$ (57)$ (123)$ 260$ (1,426)$ (1,562)$
Covered payroll 17,255$ 19,153$ 20,086$ 21,643$ 23,082$ 24,015$
Contributions as a percentage of covered payroll 7.73% 7.41% 7.08% 5.27% 6.72% 7.04%
Notes to schedule:
* - Fiscal year 2017 was the 1st year of implementation, therefore only six years are shown.
Valuation Date 1/1/2021
Methods and assumptions used to determine contribution rates:
Actuarial cost method Entry age
Amortization method 2.65%
Remaining amortization period Varies by Entry age and Service
Asset valuation method Market Value of Assets
Discount rate 6.50%
Amortization growth rate 2.75%
Ultimate rate of medical inflation 4.30%
Salary increases 2.75% plus merit component based on years of service
Mortality CalPERS mortality assumptions
Single Employer Defined Benefit OPEB Plan
Last 10 years*
Expressed in thousands
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MAJOR GOVERNMENTAL FUNDS OTHER
THAN THE GENERAL FUND AND SPECIAL
REVENUE FUNDS
76.
This section is provided for the presentation of budget-to-actual statements for the Public Facilities
Corporation Debt Service Fund. Although the fund is considered to be a major government fund, budget-
to-actual information in the basic financial statements is limited to the General Fund and major Special
Revenue Funds. All other major governmental fund schedules with such information are therefore included
as Supplemental Information. The Capital Projects Funds are budgeted on a major project length basis
and therefore not comparable on an annual basis.
Public Facilities Corporation Debt Service Fund: This fund accounts for the payments of principal and
interest on certificates of participation issued to provide for the financing of the Civic Center, Library, Wilson
Park, Memorial Park, and other City facilities.
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CITY OF CUPERTINO, CALIFORNIA
PUBLIC FACILITIES CORPORATION DEBT SERVICE FUND
SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
BUDGET AND ACTUAL
For the year ended June 30, 2022
77.
Variance
Positive
Original Final Actual (Negative)
Revenues
Use of money and property -$ -$ -$ -$
Total revenues - - - -
Expenditures
Debt service:
Principal 1,880,000 1,880,000 1,880,000 -
Interest and fiscal charges 796,000 796,000 796,000 -
Total expenditures 2,676,000 2,676,000 2,676,000 -
Excess (deficiency) of revenues
over expenditures (2,676,000) (2,676,000) (2,676,000) -
Other financing sources (uses)
Transfers in 2,621,000 2,621,000 2,621,000 -
Total other financing sources (uses) 2,621,000 2,621,000 2,621,000 -
Net change in fund balance (55,000)$ (55,000)$ (55,000) -$
Beginning fund balance 63,350
Ending fund balance 8,350$
Budgeted Amounts
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NON-MAJOR GOVERNMENTAL FUNDS
78.
All funds not considered as major funds on the Fund Financial Statements are consolidated in one column
entitled "Other Governmental Funds." These non-major funds are identified and included in this
supplementary section and includes the City's Special Revenue Funds and Capital Project Funds.
The Special Revenue Funds are used to account for the proceeds of specific revenue sources that are
legally restricted to expenditures for specified purposes.
Storm Drain Improvement — Accounts for the construction and maintenance of storm drain facilities
including drainage and sanitary sewer facilities. Revenues were collected from developers as a
result of connections to the storm drainage sewer system.
Park Dedication — Accounts for the activity granted by the business and professions code of the
State of California in accordance with the open space and conservation element of the City's
General Plan. Revenues of this fund are restricted for the acquisition, improvement, expansion and
implementation of the City's parks and recreation facilities.
Environmental Management / Clean Creeks — Accounts for all activities related to operating the
non-point source pollution program. A parcel tax provides revenues.
Traffic Impact – Accounts for development impact fees and related that ensure that new
development and redevelopment projects pay their “fair share” to mitigate traffic impacts.
Capital Projects Funds account for the financial resources committed to the construction or improvement
of major facilities.
Stevens Creek Corridor Park Capital Projects Fund — Accounts for the design and construction of
the Stevens Creek Corridor Park projects.
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CITY OF CUPERTINO, CALIFORNIA
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING BALANCE SHEET
June 30, 2022
79.
Total
Storm Environmental Nonmajor
Drain Park Management/ Traffic Stevens Creek Governmental
Improvement Dedication Clean Creeks Impact Corridor Park Funds
Assets
Cash and investments 4,033,799$ 21,323,792$ 1,297,056$ 720,197$ 166,579$ 27,541,423$
Accounts receivable - - 33,113 - - 33,113
Total assets 4,033,799$ 21,323,792$ 1,330,169$ 720,197$ 166,579$ 27,574,536$
Liabilities
Accounts payable and
accruals -$ 20,908$ 20,520$ -$ -$ 41,428$
Total liabilities - 20,908 20,520 - - 41,428
Fund balances
Restricted 4,033,799 21,302,884 1,309,649 720,197 - 27,366,529
Assigned - - - - 166,579 166,579
Total fund balances 4,033,799 21,302,884 1,309,649 720,197 166,579 27,533,108
Total liabilities and
fund balances 4,033,799$ 21,323,792$ 1,330,169$ 720,197$ 166,579$ 27,574,536$
Fund
Capital Projects
Special Revenue Funds
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CITY OF CUPERTINO, CALIFORNIA
NON-MAJOR GOVERNMENTAL FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
For the year ended June 30, 2022
80.
Fund
Total
Storm Environmental Nonmajor
Drain Park Management/ Traffic Stevens Creek Governmental
Improvement Dedication Clean Creeks Impact Corridor Park Funds
Revenues
Taxes 131,135$ 9,045,000$ -$ -$ -$ 9,176,135$
Use of money and property (133,241) (730,897) (44,526) (24,639) (7,439) (940,742)
Charges for services - - 1,477,784 275,838 - 1,753,622
Fines and forfeitures - - 3,563 - - 3,563
Total revenues (2,106) 8,314,103 1,436,821 251,199 (7,439) 9,992,578
Expenditures
Current:
Public works - - 1,648,795 - - 1,648,795
Capital outlay 48,120 354,894 - - 5,039 408,053
Total expenditures 48,120 354,894 1,648,795 - 5,039 2,056,848
Excess of revenues over
(under) expenditures (50,226) 7,959,209 (211,974) 251,199 (12,478) 7,935,730
Other finances sources (uses)
Transfers in - 3,650,000 - - - 3,650,000
Transfers out - (15,000) (366,000) - - (381,000)
Total other financing
sources (uses)- 3,635,000 (366,000) - - 3,269,000
Net change in fund balances (50,226) 11,594,209 (577,974) 251,199 (12,478) 11,204,730
Beginning fund balances 4,084,025 9,708,675 1,887,623 468,998 179,057 16,328,378
Ending fund balances 4,033,799$ 21,302,884$ 1,309,649$ 720,197$ 166,579$ 27,533,108$
Special Revenue Funds
Capital Projects
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CITY OF CUPERTINO, CALIFORNIA
NON-MAJOR GOVERNMENTAL FUNDS
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES – BUDGET AND ACTUAL
For the year ended June 30, 2022
(Continued)
81.
Variance
Original Final Positive
Budget Budget Actual (Negative)
Revenues
Taxes 79,237$ 79,237$ 131,135$ 51,898$
Use of money and property - - (133,241) (133,241)
Charges for services - - - -
Fines for forfeitures - - - -
Total revenues 79,237 79,237 (2,106) (81,343)
Expenditures
Current:
Public works - - - -
Capital outlay 2,000,000 48,121 48,120 1
Total expenditures 2,000,000 48,121 48,120 1
Excess (deficiency) of revenues
over expenditures (1,920,763) 31,116 (50,226) (81,342)
Other financing sources (uses)
Transfers in - - - -
Transfers (out)- - - -
Total other financing sources (uses)- - - -
Net change in fund balance (1,920,763)$ 31,116$ (50,226) (81,342)$
Beginning fund balance 4,084,025
Ending fund balance 4,033,799$
Storm Drain Improvement
Special Revenue Funds
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CITY OF CUPERTINO, CALIFORNIA
NON-MAJOR GOVERNMENTAL FUNDS
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES – BUDGET AND ACTUAL
For the year ended June 30, 2022
(Continued)
82.
Variance
Original Final Positive
Budget Budget Actual (Negative)
Revenues
Taxes -$ -$ 9,045,000$ 9,045,000$
Use of money and property - - (730,897) (730,897)
Charges for services - - - -
Fines for forfeitures - - - -
Total revenues - - 8,314,103 8,314,103
Expenditures
Current:
Public works - - - -
Capital outlay 4,650,000 354,894 354,894 -
Total expenditures 4,650,000 354,894 354,894 -
Excess (deficiency) of revenues
over expenditures (4,650,000) (354,894) 7,959,209 8,314,103
Other financing sources (uses)
Transfers in 3,650,000 3,650,000 3,650,000 -
Transfers (out)(15,000) (15,000) (15,000) -
Total other financing sources (uses) 3,635,000 3,635,000 3,635,000 -
Net change in fund balance (1,015,000)$ 3,280,106$ 11,594,209 8,314,103$
Beginning fund balance 9,708,675
Ending fund balance 21,302,884$
Park Dedication
Special Revenue Funds
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CITY OF CUPERTINO, CALIFORNIA
NON-MAJOR GOVERNMENTAL FUNDS
SCHEDULE OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES – BUDGET AND ACTUAL
For the year ended June 30, 2022
83.
Variance
Original Final Positive
Budget Budget Actual (Negative)
Revenues
Taxes -$ -$ -$ -$
Use of money and property 908 908 (44,526) (45,434)
Charges for services 1,543,100 1,543,100 1,477,784 (65,316)
Fines for forfeitures 10,000 10,000 3,563 (6,437)
Total revenues 1,554,008 1,554,008 1,436,821 (117,187)
Expenditures
Current:
Public works 1,965,083 2,083,958 1,648,795 435,163
Capital outlay - - - -
Total expenditures 1,965,083 2,083,958 1,648,795 435,163
Excess (deficiency) of revenues
over expenditures (411,075) (529,950) (211,974) 317,976
Other financing sources (uses)
Transfers in - - - -
Transfers (out)(366,000) (366,000) (366,000) -
Total other financing sources (uses) (366,000) (366,000) (366,000) -
Net change in fund balance (777,075)$ (895,950)$ (577,974) 317,976$
Beginning fund balance 1,887,623
Ending fund balance 1,309,649$
Environmental Management/Clean Creeks
Special Revenue Funds
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NON-MAJOR ENTERPRISE FUND
84.
Proprietary funds account for City operations financed and operated in a manner similar to a private
business enterprise. The intent of the City is that the cost of providing goods and services be financed
primarily through user charges.
The City has identified the fund below as a nonmajor proprietary fund for fiscal 2021-22.
Blackberry Farm Fund: This fund accounts for activities related to operating the City-owned golf course.
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CITY OF CUPERTINO, CALIFORNIA
NON-MAJOR ENTERPRISE FUND
COMBINING STATEMENT OF NET POSITION
For the year ended June 30, 2022
85.
Blackberry
Farm
ASSETS
Current assets
Cash and cash investments (Note 2)1,192,375$
Accounts receivable 170
Total current assets 1,192,545
Noncurrent assets
Capital assets (Note 5):
Depreciable, net of
accumulated depreciation 20,874
Total non current assets 20,874
Total assets 1,213,419
DEFERRED OUTFLOWS OF RESOURCES
Related to pension (Note 10)58,696
Related to OPEB (Note 11)13,099
Total deferred outflows of resources 71,795
LIABILITIES
Current liabilities
Accounts payable and accruals 38,577
Compensated absences (Note 1)1,477
Unearned revenue 94,631
Total current liabilities 134,685
Noncurrent liabilities
Compensated absences (Note 1)17,428
Net pension liability (Note 10)250,235
Total noncurrent liabilities 267,663
Total liabilities 402,348
DEFERRED INFLOWS OF RESOURCES
Related to pension (Note 10)26,645
Total deferred inflows of resources 26,645
NET POSITION (Note 7)
Net investment in capital assets 20,874
Unrestricted 835,347
Total Net Position 856,221$
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CITY OF CUPERTINO, CALIFORNIA
NON-MAJOR ENTERPRISE FUND
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION
For the year ended June 30, 2022
86.
Blackberry
Farm
Operating revenues
Charges for services 555,103$
Other 47,675
Total operating revenue 602,778
Operating expenses
Salaries and benefits 145,634
Materials and supplies 165,714
Contractual services 341,004
Depreciation (Note 5)2,832
Total operating expenses 655,184
Operating income (loss)(52,406)
Nonoperating revenues
Investment income (39,875)
Total nonoperating revenues (39,875)
Income (loss) before transfers (92,281)
Transfers in (Note 4)79,992
Changes in net position (12,289)
Net position - beginning of year 868,510
Net position - end of year 856,221$
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CITY OF CUPERTINO, CALIFORNIA
NON-MAJOR ENTERPRISE FUND
COMBINING STATEMENT OF CASH FLOWS
For the year ended June 30, 2022
87.
Blackberry
Farm
Cash flows from operating activities
Cash received from customers 638,627$
Cash payments to suppliers for
goods and services (479,723)
Cash payments to employees for salaries and benefits (144,200)
Net cash provided (used) by operating activities 14,704
Cash flows from noncapital financing activities
Transfers in 79,992
Cash flows from noncapital financing activities 79,992
Cash Flows from Investing Activities
Interest received (39,875)
Cash flows from investing activities (39,875)
Net cash flows 54,821
Cash and investments at beginning of year 1,137,554
Cash and investments at end of year 1,192,375$
Reconciliation of operating income (loss) to
to net cash provided by operating activities:
Operating income (loss)(52,406)$
Adjustments to reconcile operating income to
net cash provided by operating activities:
Depreciation 2,832
Change in assets, deferred outflows of resources, liabilities,
and deferred inflows of resources
Due to retirement system (4,992)
Due to OPEB system (9,674)
Accounts payable and accruals 26,995
Unearned revenue 36,019
Compensated absences 16,100
Net cash provided (used) by operating activities 14,704$
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INTERNAL SERVICE FUNDS
88.
Internal Service Funds are used to finance and account for special activities and services provided by one
department or program to other departments of the City on a cost reimbursement basis.
The concept of major funds does not extend to internal service funds because they do not do business with
outside parties. For the Statement of Activities, the net revenues or expenses of each internal service fund
are eliminated by netting them against the operations of the City departments that generated them. The
remaining balance sheet items are consolidated with these same funds in the Statement of Net Position.
However, internal service funds are still presented separately in the Fund financial statements.
Information Technology - Accounts for the activities related to the maintenance and replacement
of the City's technology infrastructure.
Workers' Compensation - Accounts for the activities in support of the self-insured workers'
compensation program.
Equipment Revolving - Accounts for the activities related to the maintenance and replacement of
the City's vehicle fleet and other equipment.
Compensated Absences and Long-Term Disability - Accounts for accrued leave payouts and the
City's long term disability insurance program.
Retiree Medical - Accounts for funds set-aside for other post-employment retirement benefits.
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CITY OF CUPERTINO, CALIFORNIA
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF NET POSITION
For the year ended June 30, 2022
89.
Compensated
Absences and
Information Workers'Equipment Long-Term Retiree
Technology Compensation Revolving Disability Medical Total
ASSETS
Current assets:
Cash and investments 2,113,332$ 3,855,949$ 1,117,855$ 337,336$ 26,554$ 7,451,026$
Total current assets 2,113,332 3,855,949 1,117,855 337,336 26,554 7,451,026
Noncurrent assets:
Net OPEB asset (Note 11)58,885 738 21,506 - - 81,129
Capital assets (Note 5):
Nondepreciable - - 7,828 - - 7,828
Capital assets, depreciable net
of accumulated depreciation 610,680 - 2,359,860 - - 2,970,540
Total noncurrent assets 669,565 738 2,389,194 - - 3,059,497
Total assets 2,782,897 3,856,687 3,507,049 337,336 26,554 10,510,523
DEFERRED OUTFLOWS OF RESOURCES
Related to pension (Note 10)383,807 13,410 121,912 - - 519,129
Related to OPEB (Note 11)261,849 3,946 80,507 - - 346,302
Total deferred outflows of resources 645,656 17,356 202,419 - - 865,431
LIABILITIES
Current liabilities
Accounts payable and accruals 71,117 - 47,712 - - 118,829
Accrued payroll and benefits - - 72 - - 72
Due to other funds - - 539,204 - - 539,204
Compensated absences 32,803 1,429 2,609 - - 36,841
Claims payable - 282,000 - - - 282,000
Total current liabilities 103,920 283,429 589,597 - - 976,946
Noncurrent liabilities
Compensated absences 252,049 10,982 20,048 - - 283,079
Claims payable - 1,287,000 - - - 1,287,000
Net pension liability (Note 10)1,432,761 48,818 444,364 - - 1,925,943
Total noncurrent liabilities 1,684,810 1,346,800 464,412 - - 3,496,022
Total liabilities 1,788,730 1,630,229 1,054,009 - - 4,472,968
DEFERRED INFLOWS OF RESOURCES
Related to pension (Note 10)628,135 15,198 156,522 - - 799,855
Related to OPEB (Note 11)135,541 1,863 48,735 - - 186,139
Total deferred inflows of resources 763,676 17,061 205,257 - - 985,994
NET POSITION
Net investment in capital assets 610,680 - 2,367,688 - - 2,978,368
Unrestricted 265,467 2,226,753 82,514 337,336 26,554 2,938,624
Total net position 876,147$ 2,226,753$ 2,450,202$ 337,336$ 26,554$ 5,916,992$
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CITY OF CUPERTINO, CALIFORNIA
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND
CHANGES IN NET POSITION
For the year ended June 30, 2022
90.
Compensated
Absences and
Information Workers' Equipment Long-Term Retiree
Technology Compensation Revolving Disability Medical Total
Operating revenues
Charges for services 2,959,603$ 356,831$ 1,718,598$ 101,870$ -$ 5,136,902$
Other - - 2,818 - - 2,818
Total operating revenues 2,959,603 356,831 1,721,416 101,870 - 5,139,720
Operating expenses
Salaries and related expenses 1,739,571 39,137 388,348 - 1,342,158 3,509,214
Materials and supplies 1,210,730 28,167 385,994 8,952 14,881 1,648,724
Contractual services 113,496 - 52,177 - - 165,673
Insurance claims and premiums - 476,344 - 425,200 - 901,544
Depreciation 285,961 - 640,492 - - 926,453
Total operating expenses 3,349,758 543,648 1,467,011 434,152 1,357,039 7,151,608
Operating income (loss)(390,155) (186,817) 254,405 (332,282) (1,357,039) (2,011,888)
Nonoperating revenue (expenses)
Interest income (69,415) (126,776) 10,326 (21,623) 4,800 (202,688)
Gain on sale of capital assets - - 17,645 - - 17,645
Total nonoperating
revenue (expenses)(69,415) (126,776) 27,971 (21,623) 4,800 (185,043)
Income (loss) before transfers (459,570) (313,593) 282,376 (353,905) (1,352,239) (2,196,931)
Transfers in 192,078 - 366,000 21,570 1,221,204 1,800,852
Change in net position (267,492) (313,593) 648,376 (332,335) (131,035) (396,079)
Beginning net position 1,143,639 2,540,346 1,801,826 669,671 157,589 6,313,071
Ending net position 876,147$ 2,226,753$ 2,450,202$ 337,336$ 26,554$ 5,916,992$
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CITY OF CUPERTINO, CALIFORNIA
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF CASH FLOWS
For the year ended June 30, 2022
(Continued)
91.
Compensated
Absences and
Information Workers'Equipment Long-Term Retiree
Technology Compensation Revolving Disability Medical Total
Cash flows from operating activities
Cash received from customers 2,959,603$ 356,831$ 1,721,416$ 101,870$ -$ 5,139,720$
Cash payments to suppliers for
goods and services (1,459,760) (28,167) (416,183) (8,952) (14,881) (1,927,943)
Cash payments to employees (1,977,586) (41,352) (459,057) - (1,342,158) (3,820,153)
Cash payment for judgment
and claims - (281,344) - (425,200) - (706,544)
Net cash from operating activities (477,743) 5,968 846,176 (332,282) (1,357,039) (1,314,920)
Cash flows from noncapital
financing activities
Transfers in 192,078 - 366,000 21,570 1,221,204 1,800,852
Net cash from noncapital
financing activities 192,078 - 366,000 21,570 1,221,204 1,800,852
Cash flows from capital and related
financing activities
Acquisition of capital assets (28,638) - (530,371) - - (559,009)
Sale of capital assets - - 17,645 - - 17,645
Net cash from capital and related
financing activities (28,638) - (512,726) - - (541,364)
Cash flows from investing activities
Interest received (69,415) (126,776) 10,326 (21,623) 4,800 (202,688)
Net cash flows from
investing activities (69,415) (126,776) 10,326 (21,623) 4,800 (202,688)
Net cash flows (383,718) (120,808) 709,776 (332,335) (131,035) (258,120)
Cash and investments beginning of year 2,497,050 3,976,757 408,079 669,671 157,589 7,709,146
Cash and investments end of year 2,113,332$ 3,855,949$ 1,117,855$ 337,336$ 26,554$ 7,451,026$
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CITY OF CUPERTINO, CALIFORNIA
INTERNAL SERVICE FUNDS
COMBINING STATEMENT OF CASH FLOWS
For the year ended June 30, 2022
92.
Compensated
Absences and
Information Workers'Equipment Long-Term Retiree
Technology Compensation Revolving Disability Medical Total
Reconciliation of operating income (loss)
to net cash flows from operating activities
Operating income (loss)(390,155)$ (186,817)$ 254,405$ (332,282)$ (1,357,039)$ (2,011,888)$
Adjustments to reconcile operating
income (loss) to net cash flows
from operating activities
Depreciation 285,961 - 640,492 - - 926,453
Change in assets, deferred outflows of resources,
liabilities and deferred inflows of resources
Due to retirement system (140,738) (3,378) (35,110) - - (179,226)
Due to OPEB system (58,702) (601) (17,670) - - (76,973)
Accounts payable and accruals (135,534) - 21,988 - - (113,546)
Compensated absences (38,575) 1,764 (17,929) - - (54,740)
Claims payable - 195,000 - - - 195,000
Cash flows from operating activities (477,743)$ 5,968$ 846,176$ (332,282)$ (1,357,039)$ (1,314,920)$
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93.
STATISTICAL SECTION
This part of the City’s Annual Comprehensive Financial Report presents detailed information as a context
for understanding what the information in the financial statements, note disclosures, and required
supplementary information says about the City’s overall financial health. In contrast to the financial section,
the statistical section information is not subject to independent audit.
Financial Trends
These schedules contain trend information to help the reader understand how the City’s financial
performance and wellbeing have changed over time:
1. Net Position/Assets by Component
2. Changes in Net Position/Assets
3. Fund Balances of Governmental Funds
4. Changes in Fund Balance of Governmental Funds
Revenue Capacity
These schedules contain information to help the reader assess the City’s most significant own-source
revenue, property tax.
1. Assessed and Estimated Actual Value of Taxable Property
2. Direct and Overlapping Property Tax Rates
3. Principal Property Taxpayers
4. Property Tax Levies and Collections
Debt Capacity
These schedules present information to help the reader assess the affordability of the City’s current levels
of outstanding debt and the City’s ability to issue additional debt in the future:
1. Ratios of Outstanding Debt by Type
2. Direct and Overlapping Bonded Debt
3. Legal Debt Margin Information
4. Ratio of General Bonded Debt Outstanding
Demographic and Economic Information
These schedules offer demographic and economic indicators to help the reader understand the
environment within which the City’s financial activities take place:
1. Demographic and Economic Statistics
2. 2022 Employer Ranking
Operating Information
These schedules contain service and infrastructure data to help the reader understand how the information
in the City’s financial report relates to the services the City provides and the activities it performs:
1. Full-Time Equivalent Employees by Function/Program
2. Operating Indicators by Function/Program
3. Capital Assets Statistics by Function/Program
Sources
Unless otherwise noted, the information in these schedules is derived from the Annual Comprehensive
Financial Reports for the relevant year.
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2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Governmental Activities
Net investment in capital assets 116,343,918$ 122,081,223$ 131,425,677$ 148,168,074$ 153,239,534$ 167,606,366$ 170,973,897$ 177,128,134$ 186,503,116$ 196,915,823$
Restricted 8,351,118 24,232,367 38,327,705 34,861,807 34,991,692 32,073,195 45,405,508 48,005,800 53,711,040 65,137,367
Unrestricted 47,558,701 63,150,548 51,003,950 51,164,063 59,385,309 50,457,871 51,190,017 66,493,336 83,458,299 96,268,023
Total governmental activities net position/assets 172,253,737 209,464,138 220,757,332 234,193,944 247,616,535 250,137,432 267,569,422 291,627,270 323,672,455 358,321,213
Business-Type Activities
Net investment in capital assets 762,013 1,110,414 2,079,561 1,708,183 1,972,169 1,597,700 1,318,744 1,118,882 2,090,530 2,089,569
Unrestricted 10,865,479 10,292,210 6,604,578 7,375,444 9,092,584 8,051,015 6,737,758 8,134,944 9,374,129 8,589,537
Total business-type activities net position/assets 11,627,492 11,402,624 8,684,139 9,083,627 11,064,753 9,648,715 8,056,502 9,253,826 11,464,659 10,679,106
Primary Government
Net investment in capital assets 117,105,931 123,191,637 133,505,238 149,876,257 155,211,703 169,204,066 172,292,641 178,247,016 188,593,646 199,005,392
Restricted 8,351,118 24,232,367 38,327,705 34,861,807 34,991,692 32,073,195 45,405,508 48,005,800 53,711,040 65,137,367
Unrestricted 58,424,180 73,442,758 57,608,528 58,539,507 68,477,893 58,508,886 57,927,775 74,628,280 92,832,428 104,857,560
(1), (2)183,881,229$ 220,866,762$ 229,441,471$ 243,277,571$ 258,681,288$ 259,786,147$ 275,625,924$ 300,881,096$ 335,137,114$ 369,000,319$
(1) Represents net assets thru June 30, 2013 and net position after that.
(2) Noted that restatements due to prior period adjustments and changes in accounting principles are not reflected in the prior year balances.
CITY OF CUPERTINO
Net Positions/Assets by Component
Last Ten Fiscal Years
(Accrual basis of accounting)
(Unaudited)
94.122
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2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Expenses
Governmental Activities:
Administration 2,367,255$ 4,529,539$ 3,286,919$ 3,710,388$ 2,873,744$ 5,612,733$ 6,849,046$ 7,974,520$ 3,637,467$ 7,293,244$
Law enforcement 9,274,536 10,062,192 10,705,328 11,316,271 12,528,328 12,674,042 13,381,113 14,698,130 15,211,646 16,100,903
Public and environmental affairs 1,595,982 512,895 649,442 575,260 1,884,165 3,244,846 3,210,343 3,637,354 1,721,729 2,004,515
Administrative services 4,171,440 2,662,008 4,300,336 2,994,611 5,898,479 4,415,647 4,290,818 5,175,596 5,358,183 5,363,745
Recreation services 4,473,861 4,866,974 5,365,282 5,758,194 10,651,557 9,352,551 7,389,915 8,763,194 1,182,662 3,976,793
Community development 4,676,273 9,108,949 5,976,797 6,259,734 13,775,591 16,789,351 10,470,973 10,286,317 11,495,788 12,209,547
Public works 22,149,063 21,143,331 27,893,361 31,313,396 32,491,244 28,995,382 31,870,165 33,339,191 41,870,240 35,653,588
Interest on long-term debt 1,256,922 1,130,428 1,120,138 1,077,538 1,035,738 993,038 949,438 882,837 397,682 636,960
Total governmental activities expense 49,965,332 54,016,316 59,297,603 63,005,392 81,138,846 82,077,590 78,411,811 84,757,139 80,875,397 83,239,295
Business-Type Activities:
Resources recovery 1,764,993 2,159,047 2,548,461 2,997,200 2,991,177 2,594,511 1,735,885 2,213,404 1,670,261 1,837,781
Blackberry farm 463,336 571,000 547,185 576,177 597,406 656,112 645,469 663,663 535,274 655,184
Cupertino sports center 2,011,483 2,221,703 2,269,420 2,299,210 2,159,243 2,633,748 3,036,037 2,883,903 2,182,900 3,396,146
Recreation programs 2,025,416 2,730,765 2,342,457 3,136,011 2,351,501 3,232,593 2,923,336 3,141,225 1,117,244 1,617,717
Total business-type activities expense 6,265,228 7,682,515 7,707,523 9,008,598 8,099,327 9,116,964 8,340,727 8,902,195 5,505,679 7,506,828
Total primary government expense 56,230,560 61,698,831 67,005,126 72,013,990 89,238,173 91,194,554 86,752,538 93,659,334 86,381,076 90,746,123
Program Revenues
Governmental Activities:
Charges for services:
Administration 5,676 1,087,393 322,534 369,069 3,992,716 5,062,988 1,319,395 2,091,811 2,387,412 2,551,205
Law enforcement 637,595 725,631 590,378 664,483 603,194 732,544 889,923 1,102,888 550,051 940,797
Public and environmental affairs - - 41,352 41,352 - - - - - -
Administrative services - - 481,616 359,148 3,565,627 2,635,885 3,113,731 3,889,180 5,232,679 7,457,032
Recreation services 970,292 955,081 1,798,134 1,421,185 2,016,159 1,589,134 1,563,262 1,309,906 264,426 653,994
Community development 6,765,564 6,649,292 8,511,745 10,534,457 10,902,822 8,598,935 7,470,690 5,859,847 5,736,587 5,768,850
Public works 593,501 7,916,897 2,869,357 6,358,870 6,873,487 4,720,646 4,504,104 5,657,315 3,966,206 4,015,183
Operating grants and contributions 2,752,493 10,000,131 6,002,617 1,851,282 2,313,632 4,819,696 2,557,470 5,794,443 5,998,209 7,601,210
Capital grants and contributions 719,880 569,159 4,022,190 362,491 245,288 271,587 1,082,243 1,046,756 1,792,376 1,282,617
Total governmental activities program revenue 12,445,001 27,903,584 24,639,923 21,962,337 30,512,925 28,431,415 22,500,818 26,752,146 25,927,946 30,270,888
Business-Type Activities:
Charges for services:
Resources recovery 1,882,517 2,074,251 2,591,276 2,664,888 2,792,190 2,559,862 1,750,279 1,821,677 1,819,861 1,545,683
Blackberry farm 386,753 302,472 388,091 334,529 325,224 345,667 316,615 338,212 610,603 602,778
Cupertino sports center 2,150,139 2,188,127 2,152,498 2,224,146 2,238,023 2,403,665 2,349,468 2,365,667 1,810,194 2,796,329
Recreation programs 2,409,720 2,480,209 2,532,800 2,466,336 2,778,588 2,516,678 1,986,781 1,588,576 590,871 1,294,128
Total business-type activities program revenue 6,829,129 7,045,059 7,664,665 7,689,899 8,134,025 7,825,872 6,403,143 6,114,132 4,831,529 6,238,918
Total primary government program revenue 19,274,130 34,948,643 32,304,588 29,652,236 38,646,950 36,257,287 28,903,961 32,866,278 30,759,475 36,509,806
(continued)
CITY OF CUPERTINO
Change in Net Positions/Assets
Last Ten Fiscal Years
(Accrual basis of accounting)
(Unaudited)
95.123
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2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Net (Expense) Revenue:
Governmental activities (37,520,331)$ (26,112,732)$ (34,657,680)$ (41,043,055)$ (50,625,921)$ (53,646,175)$ (55,910,993)$ (58,004,993)$ (54,947,451)$ (52,968,407)$
Business-Type activities 563,901 (637,456) (42,858) (1,318,699) 34,698 (1,291,092) (1,937,584) (2,788,063) (674,150) (1,267,910)
Total primary government net expense (36,956,430) (26,750,188) (34,700,538) (42,361,754) (50,591,223) (54,937,267) (57,848,577) (60,793,056) (55,621,601) (54,236,317)
General Revenues and Transfers
Governmental Activities:
Taxes:
Property taxes 8,793,110 9,169,183 - 11,864,027 13,251,840 14,881,533 17,082,005 18,117,304 19,197,994 20,322,779
Property taxes in lieu of motor vehicle fee 4,772,355 5,289,476 - 6,330,436 6,967,237 7,552,272 8,219,090 8,489,541 9,079,845 9,401,632
Sales tax 18,721,193 19,794,036 - 21,350,056 26,932,012 26,164,531 24,901,779 35,657,214 42,581,070 43,646,813
Transient occupancy tax 3,768,504 4,590,156 - 5,852,244 6,023,681 6,810,718 8,901,337 7,286,083 2,141,058 4,404,958
Utility user tax 2,994,526 3,098,639 - 3,370,830 3,082,407 3,146,398 3,089,922 3,182,086 3,074,358 3,356,389
Franchise tax 2,848,950 2,775,892 - 3,478,024 3,409,572 3,563,820 3,445,253 3,418,908 3,368,286 3,479,554
Other taxes 4,561,219 18,791,559 - 2,818,019 3,258,118 1,943,652 3,299,587 1,774,235 3,022,333 11,117,528
Intergovernmental (1)30,256 25,294 - 24,111 26,118 31,013 28,844 47,391 43,675 67,762
Investment earnings 176,782 133,243 40,751 807,287 694,730 916,638 3,258,550 5,690,723 4,147,907 (9,241,781)
Miscellaneous 126,690 57,005 (2) 219,053 2,004,906 1,834,492 1,187,741 1,922,356 3,185,110 1,948,332
Gain on sale of capital assets - - 23,715,897 580 - 740,570 3,875 - - -
Transfers - fund closings (2)- - - - 272,011 - - - - -
Transfers (150,000) (401,350) 872,340 (1,635,000) (1,874,120) 107,030 (75,000) (3,523,000) (2,849,000) (886,801)
Total governmental activities 46,643,585 63,323,133 24,628,986 54,479,667 64,048,512 67,692,667 73,342,983 82,062,841 86,992,636 87,617,165
Business-Type Activities:
Investment earnings 31,573 11,238 42,531 82,187 59,012 75,663 270,371 462,387 35,983 (404,444)
Transfers 150,000 401,350 (872,340) 1,635,000 1,874,120 (107,030) 75,000 3,523,000 2,849,000 886,801
Total business-type activities 181,573 412,588 (829,809) 1,717,187 1,933,132 (31,367) 345,371 3,985,387 2,884,983 482,357
Total primary government 46,825,158 63,735,721 23,799,177 56,196,854 65,981,644 67,661,300 73,688,354 86,048,228 89,877,619 88,099,522
Change in Net Position/Assets (3)
Governmental activities 9,123,254 37,210,401 (10,028,694) 13,436,612 13,422,591 14,046,492 17,431,990 24,057,848 32,045,185 34,648,758
Business-Type activities 745,474 (224,868) (872,667) 398,488 1,967,830 (1,322,459) (1,592,213) 1,197,324 2,210,833 (785,553)
Total primary government 9,868,728$ 36,985,533$ (10,901,361)$ 13,835,100$ 15,390,421$ 12,724,033$ 15,839,777$ 25,255,172$ 34,256,018$ 33,863,205$
(1) The 2006 state take-away of sales taxes, property taxes and vehicle license fees is reported in this category.
(2) Asset and liability transfer from the closed City Channel/Web Internal Service Fund in 2017.
(3) Representes changes in net assets thru fiscal year ended June 30, 2013 and changes in net position after that.
CITY OF CUPERTINO
Change in Net Positions/Assets
Last Ten Fiscal Years
(Accrual basis of accounting)
(Unaudited)
96.124
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2013 2014 2015 2016 2017 2018 2019 (2)2020 2021 2022
General Fund
Nonspendable 956,827$ 3,363,065$ 938,245$ 937,381$ 876,939$ 464,893$ 454,188$ 3,449,341$ 3,444,346$ 3,546,678$
Restricted 725,903 - 761,653 888,374 1,016,771 1,254,578 9,469,670 14,324,757 20,140,419 18,756,482
Committed - - - - 19,000,000 19,122,754 19,123,397 19,127,891 19,127,891 34,127,891
Assigned 16,400,000 16,400,000 28,849,679 20,500,000 4,638,181 9,963,310 1,979,202 3,176,882 4,906,139 5,041,682
Unassigned 17,961,579 23,197,378 8,774,966 29,869,085 28,057,799 21,704,922 27,896,128 34,426,942 49,231,996 48,696,821
Total General Fund 36,044,309 42,960,443 39,324,543 52,194,840 53,589,690 52,510,457 58,922,585 74,505,813 96,850,791 110,169,554
All Other Governmental Funds
Nonspendable - - - - - - - - - -
Restricted 7,625,215 24,232,367 37,566,052 33,973,433 33,974,921 30,818,617 35,935,838 33,681,043 33,570,621 46,380,885
Committed - - 1,398,665 1,398,665 1,398,665 - - - - -
Assigned 5,299,904 7,619,534 20,671,116 15,344,191 25,305,974 29,129,616 33,211,946 40,551,131 37,038,174 35,088,889
Unassigned - (2,280,961) - - - - - - - -
Total All Other Governmental Funds 12,925,119 29,570,940 59,635,833 50,716,289 60,679,560 59,948,233 69,147,784 74,232,174 70,608,795 81,469,774
Total Governmental Funds 48,969,428$ 72,531,383$ 98,960,376$ 102,911,129$ 114,269,250$ 112,458,690$ 128,070,369$ 148,737,987$ 167,459,586$ 191,639,328$
(1) The City implemented GASB Statement No. 54 under which governmental fund balances are reported as nonspendable, restricted, committed,
assigned and unassigned compared to reserved and unreserved
(2) The City established a trust to fund Other Post-Employment Benefit contributions, which is classified as a restriction in fund balance.
CITY OF CUPERTINO
Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting
(Unaudited)
97.125
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Revenues
Taxes 48,382,570$ 72,211,724$ 55,134,238$ 55,462,956$ 62,924,867$ 64,062,924$ 68,938,973$ 77,925,371$ 82,464,944$
Use of money and property 744,196 764,299 915,933 1,654,702 1,425,629 1,543,818 3,896,813 6,259,342 4,447,970
Intergovernmental 2,841,407 3,069,400 7,210,562 2,532,025 2,585,038 5,122,296 3,668,557 6,888,590 7,834,260
Licenses and permits 3,502,617 3,679,943 3,170,445 3,073,110 2,536,925 2,757,928 4,102,665 4,692,847 4,068,238
Charges for services 4,515,066 10,744,113 5,203,371 17,249,123 24,103,167 15,638,247 13,385,698 13,937,950 13,601,302
Fines and forfeitures 560,417 616,889 554,002 564,903 603,194 602,934 534,012 344,008 134,459
Other 57,828 545,052 542,429 1,289,013 2,004,904 1,834,492 1,187,741 1,922,356 3,185,110
Total revenues 60,604,101 91,631,420 72,730,980 81,825,832 96,183,724 91,562,639 95,714,459 111,970,464 115,736,283
Expenditures:
Current:
Administration 2,005,176 3,957,739 3,897,701 4,053,741 5,942,633 4,943,052 6,294,111 6,951,541 7,549,386
Law enforcement 8,783,885 9,626,121 10,283,772 10,988,735 11,939,095 12,362,621 13,108,732 14,151,413 14,776,409
Public and environmental affairs 1,486,910 477,852 624,295 544,718 1,864,746 2,835,768 2,843,540 3,223,185 1,836,725
Administrative services 3,772,714 2,444,670 3,226,164 2,811,117 5,054,539 4,430,300 4,197,582 4,617,787 5,196,299
Recreation services 4,083,822 4,536,519 5,047,548 5,441,200 9,361,934 8,686,076 8,996,118 7,688,935 4,787,914
Community development 4,395,601 8,424,254 5,180,659 6,102,820 7,431,292 12,907,086 9,359,835 9,310,827 11,177,690
Public works 13,996,516 17,469,627 14,625,038 15,078,174 18,623,585 18,191,714 19,955,579 22,445,948 24,568,155
Capital Outlay 4,684,676 7,110,974 21,760,899 26,171,127 18,731,165 23,395,112 10,528,246 12,644,373 19,483,945
Debt service:
Principal repayment 1,920,000 2,040,000 2,055,000 2,090,000 2,135,000 2,180,000 2,220,000 2,290,000 2,140,000
Interest and fiscal charges 1,256,922 1,130,428 1,120,138 1,077,538 1,035,738 993,038 949,438 882,837 798,747
Total expenditures 46,386,222 57,218,184 67,821,214 74,359,170 82,119,727 90,924,767 78,453,181 84,206,846 92,315,270
Excess (deficiency) of revenues over
(under) expenditures 14,217,879 34,413,236 4,909,766 7,466,662 14,063,997 637,872 17,261,278 27,763,618 23,421,013
Other Financing Sources (Uses)
Proceeds from debt issuance - - - - - - - - 22,040,000
Proceeds from debt issuance premium - - - - - - - - 3,878,704
Payments to refunding agent - - - - - - - - (27,279,118)
Proceeds from sale of capital assets - 37,569 23,814,257 580 - 872,250 3,875 - -
Transfers in 8,438,707 13,610,304 39,408,990 11,905,724 26,446,090 31,028,218 19,407,613 35,208,276 12,876,969
Transfers in - fund closing - - - - 260,374 - - - -
Transfers out (10,308,210) (24,499,154) (39,177,284) (15,422,213) (29,412,340) (34,348,900) (21,061,087) (42,304,276) (16,215,969)
Total other financing sources (uses)(1,869,503) (10,851,281) 24,045,963 (3,515,909) (2,705,876) (2,448,432) (1,649,599) (7,096,000) (4,699,414)
Extraordinary Item
Asset transferred to Successor Agencies (1,130,797) - - - - - - - -
Change in fund balances 11,217,579$ 23,561,955$ 28,955,729$ 3,950,753$ 11,358,121$ (1,810,560)$ 15,611,679$ 20,667,618$ 18,721,599$
Debt service as a percentage of
noncapital expenditures (1)7.6%6.3%6.9%6.6%5.0%4.7%4.7%4.4%4.0%
(1) Noncapital expenditures is total expenditures less capital assets added each year to the statement of net position/assets.
CITY OF CUPERTINO
Change in Fund Balances of Governmental Funds
Last Ten Fiscal Years
(Modified accrual basis of accounting)
(Unaudited)
98.126
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State Board of Total Assessed &Direct
Total Equalization Secured Est. Full Market Tax
Fiscal Year Secured (a)Unsecured (a)Non-Unitary Exemptions Valuation (a)Rate
2013 13,882,147,291$ 738,243,050$ 1,390,000$ 108,468,872$ 14,621,780,341$ 6.20%
2014 15,391,656,690 813,117,019 1,390,000 113,744,809 16,206,163,709 5.62%
2015 16,133,637,244 965,141,148 - 119,476,276 17,098,778,392 5.61%
2016 18,308,720,226 1,086,786,901 - 114,223,063 19,395,507,127 5.59%
2017 20,196,258,418 1,150,311,942 - 118,257,368 21,346,570,360 5.98%
2018 22,024,906,420 1,114,123,426 - 122,805,695 23,139,029,846 6.19%
2019 23,402,123,229 1,779,936,377 - 125,245,819 25,182,059,606 6.38%
2020 24,370,718,536 1,641,863,322 - 138,025,761 26,012,581,858 6.50%
2021 25,397,331,860 2,423,984,683 - 145,644,653 27,821,316,543 6.46%
2022 27,083,468,890 1,724,247,088 - 149,658,614 28,807,715,978 3.55%
(a) Net of exemptions
Source: HdL, Coren & Cone
Data Source: Santa Clara County Assessor 2012-13 - 2021-22 Combined Tax Rolls
CITY OF CUPERTINO
(Unaudited)
Last Ten Fiscal Years
Assessed and Estimated Actual Value of Taxable Property
$0
$2
$4
$6
$8
$10
$12
$14
$16
$18
20
1
3
20
1
4
20
1
5
20
1
6
20
1
7
20
1
8
20
1
9
20
2
0
20
2
1
20
2
2
Bi
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n
s
Series1 Unsecured Property
99.
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2012/13 2013/14 2014/15 2015/16 2016/17 2017/18 2018-19 2019-20 2020-21 2020-22
Basic Levy¹1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000
Co. Housing Bond 2016 0.00000 0.00000 0.00000 0.00000 0.00000 0.01266 0.01050 0.01000 0.00000 0.01266
County Bond 2008 Hospital Facility 0.00510 0.00350 0.00910 0.00880 0.00860 0.00820 0.00720 0.00690 0.00690 0.00610
County Library Retirement Levy 0.00240 0.00240 0.00240 0.00240 0.00240 0.00240 0.00240 0.00240 0.00240 0.00240
County Retirement Levy 0.03880 0.03880 0.03880 0.03880 0.03880 0.03880 0.03880 0.03880 0.03880 0.03880
Cupertino Elementary 0.05980 0.05250 0.05400 0.05190 0.05090 0.04960 0.03970 0.04150 0.04030 0.03800
El Camino Hospital 2003 0.01290 0.01290 0.01290 0.01290 0.01290 0.01000 0.01000 0.01000 0.01000 0.01000
Foothill De Anza College 0.02870 0.02900 0.02760 0.02400 0.02340 0.02200 0.02170 0.02080 0.03640 0.03310
Fremont High 0.03900 0.04050 0.03960 0.05250 0.04030 0.04640 0.04300 0.04790 0.04780 0.04160
Los Gatos-Saratoga High 1998 0.03680 0.03510 0.05160 0.04230 0.04690 0.04570 0.03040 0.01770 0.01930 0.01850
MidPeninsula Open Space 2014 0.00000 0.00000 0.00000 0.00080 0.00060 0.00090 0.00180 0.00160 0.00150 0.00150
Santa Clara Unified 0.08190 0.07070 0.07040 0.09420 0.08180 0.08280 0.07070 0.11760 0.10450 0.10140
Santa Clara Valley Water District 0.00690 0.00700 0.00650 0.00570 0.00860 0.00620 0.00420 0.00410 0.00370 0.00510
Saratoga Elementary 0.04520 0.04500 0.04580 0.04490 0.04560 0.04580 0.04580 0.04640 0.04850 0.04830
West Valley College 0.02890 0.02550 0.01200 0.02320 0.01960 0.02000 0.01980 0.01860 0.03110 0.03040
Total Direct & Overlapping² Tax Rates 1.38640 1.36290 1.37070 1.40240 1.38040 1.39146 1.34600 1.39530 1.39120 1.38786
City's Share of 1% Levy Per Prop 13³0.05652 0.05626 0.05617 0.05571 0.05962 0.06148 0.06320 0.06531 0.06515 0.06528
General Obiligation Debt Rate
Redevelopment Rate⁴
Total Direct Rate⁵0.06204 0.05623 0.05610 0.05588 0.05976 0.06187 0.06381 0.06499 0.06463 0.06477
Notes:
Data Source: Santa Clara County Assessor 2012/13 - 2021/22 Tax Rate Table
²Overlapping rates are those of local and county governments that apply to property owners within the City. Not all overlapping rates apply to all city
property owners.
³City's Share of 1% Levy is based on the City's share of the general fund tax rate area with the largest net taxable value within the city. ERAF general fund
tax shifts may not be included in tax ratio figues.
⁴Redevelopment Rate is based on the largest RDA tax rate area and only includes rate(s) from indebtedness adopted prior to 1989 per California State
statute. RDA direct and overlapping rates are applied only to the incremental property values. The approval of ABX1 26 eliminated Redevelopment from
the State of California for the fiscal year 2012/13 and years thereafter.
⁵Total Direct Rate is the weighted average of all individual direct rates applied to by the government preparing the statistical section information and
excludes revenues derived from aircraft. Beginning in 2013/14 the Total Direct Rate no longer includes revenue generated from the former redevelopment
tax rate areas. Challenges to recognized enforceable obligations are assumed to have been resolved during 2012/13. For the purposes of this report, residual
revenue is assumed to be distributed to the City in the same proportions as general fund revenue.
Agency
THE CITY OF CUPERTINO
Direct and Overlapping Property Tax Rates
(Rate per $100 of taxable value)
Last 10 Fiscal Years
¹In 1978, California voters passed Proposition 13 which set the property tax rate at a 1.00% fixed amount. This 1.00% is shared by all taxing agencies for
which the subject property resides within. In addition to the 1.00% fixed amount, property owners are charged taxes as a percentage of assessed property
values for the payment of any voter approved bonds.
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2022 Percentage of 2013 Percentage of
Assessed Total Assessed Assessed Total Assessed
Valuation Valuation Valuation Valuation
Apple Inc.7,077,454,285$ 24.57%933,312,667$ 6.38%
Main Street Cupertino 372,315,274 1.29%- 0.00%
Vallco Property Owner LLC 350,306,826 1.22%72,972,533 0.50%
Swift Results Way LLC 346,000,000 1.20%- 0.00%
Cupertino City Center 266,991,604 0.93%- 0.00%
Cupertino Property Development 210,893,888 0.73%- 0.00%
PR Cupertino Gateway LLC 134,707,992 0.47%- 0.00%
Avery Glenbrook LP 111,499,196 0.39%- 0.00%
Markham Apartments LP 107,316,527 0.37%- 0.00%
Preg Emerson LLC 105,566,151 0.37%- 0.00%
Total 9,083,051,743$ 31.54%1,006,285,200$ 6.88%
Source: HdL, Coren & Cone
Taxpayer
CITY OF CUPERTINO
Principal Property Taxpayers
Current Year and Ten Years Ago
(Unaudited)
101.
129
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Percent of
Percent Delinquent Total Total Tax
Fiscal Total Current Tax of Levy Tax Tax Collections
Year Tax Levy Collections Collected (1)Collections (1)Collections to Tax Levy
2013 8,199,752$ 8,199,752$ 100.00%-$ 8,199,752$ 100.00%
2014 9,169,183 9,169,183 100.00%- 9,169,183 100.00%
2015 10,178,734 10,178,734 100.00%- 10,178,734 100.00%
2016 11,864,026 11,864,026 100.00%- 11,864,026 100.00%
2017 13,308,884 13,308,884 100.00%- 13,308,884 100.00%
2018 13,172,425 13,172,425 100.00%- 13,172,425 100.00%
2019 16,049,112 16,049,112 100.00%- 16,049,112 100.00%
2020 18,117,304 18,117,304 100.00%- 18,117,304 100.00%
2021 19,197,994 19,197,994 100.00%- 19,197,994 100.00%
2022 20,322,779 20,322,779 100.00%- 20,322,779 100.00%
(1) Per the Teeter Plan, the City receives 100% of the tax levy, while the County receives delinquencies and penalties.
Source: City of Cupertino NWS
CITY OF CUPERTINO
Property Tax Levies and Collections
Last Ten Fiscal Years
(Unaudited)
102.
130
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Percentage
of Estimated % of
Fiscal Certificates Actual Market Value Personal
Year of Participation of Taxable Property Per Capita Income 2007 49,740,000 0.45%929 1.60%
2013 42,020,000$ 0.26%705$ 1.41%
2014 39,980,000 0.23%671 1.38%
2015 37,925,000 0.20%633 1.28%
2016 35,835,000 0.18%598 1.21%
2017 33,700,000 0.15%579 1.02%
2018 31,520,000 0.12%525 0.87%
2019 29,300,000 0.11%488 0.81%
2020 27,010,000 0.10%451 0.71%
2021 22,040,000 0.08%370 0.54%
2022 19,900,000 0.07%328 0.44%
Source: City of Cupertino Budget Book
CITY OF CUPERTINO
Ratios of Outstanding Debt by Type
Last Ten Fiscal Years
(Unaudited)
103.
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28,807,715,978$
Total Debt %City’s Share of
6/30/2022 Applicable (1)Debt 6/30/22
Santa Clara County 1,130,850,000$ 4.998%56,519,883$
Santa Clara County General Fund Obligations 1,210,694,365 4.998%60,510,504
Santa Clara County Pension Obligations 335,638,470 4.998%16,775,211
Santa Clara County Board of Education Certificates of Participation 1,820,000 4.998%90,964
Foothill-DeAnza Community College District 657,878,325 12.559%82,622,939
Foothill-DeAnza Community College District Certificates of Participation 21,380,000 12.559%2,685,114
West Valley Community College District 732,500,000 1.977%14,481,525
West Valley-Mission Community College District General Fund Obligations 12,000,000 1.977%237,240
Santa Clara Unified School District 956,350,000 4.380%41,888,130
Santa Clara Unified School District General Fund Obligations 13,325,000 4.380%583,635
Santa Clara County Vector Control District Certificates of Participation 1,505,000 4.998%75,220
Fremont Union High School District 582,770,088 28.026%163,327,145
Cupertino Union School District 271,768,303 51.138%138,976,875
El Camino Hospital District 111,240,000 0.891%991,148
Midpeninsula Regional Open Space District and General Fund Obligations 84,575,000 7.600%6,427,700
Santa Clara Valley Water District Benefit Assessment 48,150,000 4.998%2,406,537
Total Overlapping Tax and Assessment Debt 6,172,444,551 588,599,770
Direct Debt: City of Cupertino Certificates of Participation 19,900,000 100.000%19,900,000
Total Direct and Overlapping General Fund Debt 19,900,000 19,900,000
Totals by Category:(3)
Total Direct Debt 19,900,000 19,900,000
Total Overlapping Debt 6,172,444,551 588,599,770
Combined Total Debt 6,192,344,551$ 608,499,770$
Ratios to 2021-22 Assessed Valuation:
Total Overlapping Tax and Assessment Debt 2.04%
0.07%
Combined Total Debt 2.11%
(1)
(2)Principal amount as of 6/30/22.
Direct and Overlapping Bonded Debt
CITY OF CUPERTINO
Overlapping Tax and Assessment Debt:
(Unaudited)
2022-23 Assessed Valuation
June 30, 2022
The percentage of overlapping debt applicable to the city is estimated using taxable assessed property value. Applicable percentages were
estimated by determining the portion of the overlapping district's assessed value that is within the boundaries of the city divided by the district's
total taxable assessed value.
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Total net debt
Total Net Legal applicable to the
Fiscal Debt Debt Applicable Debt limit as a % of
Year Limit to Limit Margin debt limit
2013 520,580,523$ -$ 520,580,523$ -
2014 577,187,126 - 577,187,126 -
2015 605,011,397 - 605,011,397 -
2016 686,577,008 - 686,577,008 -
2017 757,359,691 - 757,359,691 -
2018 825,933,991 - 825,933,991 -
2019 877,579,621 - 877,579,621 -
2020 913,901,945 - 913,901,945 -
2021 1,015,630,083 - 1,015,630,083 -
2022 1,015,630,083 -1,015,630,083 -
Debt Limit:
Secured property assessed value, net of exempt real property 27,083,468,890$
Adjusted valuation - 25% of assessed valuation 6,770,867,223
Debt limit - 15% of adjusted valuation 1,015,630,083
Amount of Debt Subject to Limit:
Total Bonded Debt 19,900,000
Less: Certificates of Participation not subject to debt limit (19,900,000)
Amount of debt subject to limit -
Legal Debt Margin 1,015,630,083$
Source: City of Cupertino Budget Book
Last Ten Fiscal Years
Note: The Government Code of the State of California provides for a legal debt limit of 15% of gross assessed valuation. However, this
provision was enacted when assessed valuation was based upon 25% of market value. Effective with the 1981-82 fiscal year, each parcel is
now assessed at 100% of market value (as of the most recent change in ownership for that parcel). The computations shown above reflect a
conversion of assessed valuation data for each fiscal year from the current full valuation perspective to the 25% level that was in effect at
the time that the legal debt margin was enacted by the State of California for local governments located within the state.
CITY OF CUPERTINO
Legal Debt Margin Information
(Unaudited)
105.
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Ratio of General
Fiscal Assessed General Bonded Debt Bonded Debt to
Year Population Value Bonded Debt Per Capita Assessed Value
2013 59,620 14,621,780,341$ -$ -$ -$
2014 59,946 17,098,778,392 - - -
2015 59,777 19,395,507,127 - - -
2016 58,185 19,395,507,127 - - -
2017 58,917 21,346,570,360 - - -
2018 60,091 23,139,029,846 - - -
2019 59,879 25,182,059,606 - - -
2020 59,549 27,821,316,543 - - -
2021 60,656 27,821,316,543 - - -
2022 66,274 28,807,715,978 - - -
Sources: HdL, Coren & Cone/Cupertino Budget Book
CITY OF CUPERTINO
Ratio of General Bonded Debt
Last Ten Fiscal Years
(Unaudited)
106.
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Fiscal
Year
City
Population
(1)
County
Population
(1)
City
Population
% of County
City Personal
Income (2)
Per
Capita
Personal
Income (2)
**Public
School
Enrollment
City
Unemploy
ment Rate
(%) (3)
County
Unemploy
ment Rate
(%) (3)
Median
Age (4)
% of
Population
Over 25
with High
School
Degree
% of
Population
Over 25
with
Bachelor's
Degree
2012-13 59,620 1,842,254 3.24% 2,985,829,000$ 50,081$ 29,699 4.1% 8.4% 39.5 96.7% 75.5%
2013-14 59,946 1,868,558 3.21% 3,090,636,000 51,557 29,904 3.4% 6.8% 40.0 96.2% 74.2%
2014-15 59,777 1,889,638 3.16% 3,186,772,000 53,311 29,871 4.2% 3.8% 40.0 96.5% 74.6%
2015-16 58,185 1,927,888 3.02% 3,340,132,000 57,405 29,684 3.4% 4.2% 40.2 96.5% 75.6%
2016-17 58,917 1,938,180 3.04% 3,486,805,000 59,181 29,467 3.0% 3.8% 40.6 96.7% 76.0%
2017-18 60,091 1,938,153 3.10% 3,620,255,000 60,246 29,255 3.3% 3.8% 40.7 97.1% 76.6%
2018-19 59,879 1,937,570 3.09% 3,821,320,000 63,817 29,240 2.6% 2.3% 41.1 97.1% 77.2%
2019-20 59,549 1,927,852 3.09% 4,114,967,000 69,102 29,550 2.4% 10.7% 41.1 97.2% 78.1%
2020-21 60,656 1,936,259 3.13% 4,378,045,000 74,485 30,900 4.9% 5.2% 41.6 97.2% 78.8%
2021-22 66,274 1,934,171 3.43% 4,571,170,000 76,684 24,380 3.7% 2.2% 41.2 97.3% 79.6%
Notes and Data Sources:
Population: California State Department of Finance. Unemployment Data: California Employment Development Department
Income, Age, and Education Data: ESRI - Demographic Estimates are based on the last available Census. Projections are developed by incorporating all of the prior
census data released to date. Demographic Data is totaled from Census Block Groups that overlap the City's boundaries
201- and later - Income, Age and education Data - US Census Bureau, most recent American Community Survey
**Reported Public School Enrollment reflects the total number of students in the Fremont Union High School District and Cupertino Union School District. Previously
published reports included Fremont Union High School District only.
City of Cupertino
Demographic and Economic Statistics
Last Ten Fiscal Years
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CITY OF CUPERTINO
2022 Employer Ranking
(Unaudited)
Employer Ranking Employer_________________Ranking
Apple 1 Mist Systems, Inc.11
De Anza College 2 Intero Real Estate Services, Inc 12
Force 5 Software Inc 3 Keller Williams Realty 13
Whole Foods Market 4 Cupertino Healthcare & Wellness Center 14
Claris International, Inc 5 Exilant 15
Health Care Center at the Forum 6 BJ's Resturant & Brewhouse 16
Target 7 Sunny View Retirement Community 17
Seagate Technology 8 Insight Solutions Inc 18
Cupertino Union School District 9 Cupertino High School 19
City of Cupertino 10 Monta Vista High School 20
Source: Data-Axle
108.
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Function/Program 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Council and Commissions 1.52 1.57 1.55 1.60 1.55 2.35 2.35 2.51 2.53 7.3
Administration 5.05 10.75 10.75 10.85 10.57 14.12 15.47 15.15 17.85 24.3
Innovation & Technology 6.90 11.00 10.25 11.40 13.95 14.55 15.05 14.95 11.93 13.4
Administrative Services 22.26 11.00 12.00 12.30 12.30 12.00 14.00 16.00 15.90 18.9
Parks & Recreation 29.53 29.48 31.28 32.18 33.08 35.13 34.80 32.10 31.90 29.5
Community Development 23.90 24.83 24.80 27.30 28.18 28.08 28.13 28.29 28.49 37.5
Public Works 73.59 74.12 77.12 82.12 84.12 84.52 84.95 88.75 90.15 94.1
Law Enforcement 0.00 2.00 2.00 2.00 2.00 2.00 2.00 0.00 0.00 0.00
Total 162.75 164.75 169.75 179.75 185.75 192.75 196.75 197.75 198.75 225.00
Source: City of Cupertino Budget
CITY OF CUPERTINO
Full-Time Equivalent City Employees by Function/Program
Last Ten Fiscal Years
(Unaudited)
0
50
100
150
200
250
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Public Works
Community
Development
Parks &
Recreation
Administrative
Services
Innovation &
Technology
Administration
Council and
Commissions
109.
137
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2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Law Enforcement Sheriff Response
Priority One-Respond within 5 minutes 3.76 Min.4.30 Min.4.90 Min.4.90 Min.5.07 Min 4.23 Min.4.39 Min.3.51 Min.3.40 Min.5.33 Min
Priority Two-Respond within 9 minutes 5.98 Min.6.39 Min.6.56 Min.6.56 Min.8.00 Min.7.49 Min.6.23 Min.6.37 Min.6.07 Min.6.94 Min.
Priority Three-Respond within 20 minutes 10.29 Min.10.76 Min.10.52 Min.10.52 Min.15.79 Min 14.79 Min.12.11 Min.11.96 Min.11.80 Min.11.73 Min
Public Works
Street Sweeping 575 Curb Miles 575 Curb Miles 575 Curb Miles 575 Curb Miles 534 Curb Miles 534 Curb Miles 534 Curb Miles 534 Curb Miles 534 Curb Miles 534 Curb Miles
Street Maintenance 24 Hrs of Call 24 Hrs of Call 24 Hrs of Call 24 Hrs of Call 24 Hrs of Call 24 Hrs of Call 24 Hrs of Call 24 Hrs of Call 24 Hrs of Call 24 Hrs of Call
Number of development permit applications received 428 434 428 127 128
Number of encroachment permits received 121 136 134 577 426
Storm Drain Inlets Inspected/Cleaned 815 1063 1638 1802 80%
Roadway Signs Repaired/Replaced 404 721 346 1151 3.5%
Number of trees planted vs. removed 53/67 155/192 164/190 187/202 211/187
Parks & Recreation
Number of reservations at Quinlan Center 560 402 526 8 260
Number of rounds of golf at BBF Golf Course 28,193 27,205 28,952 43,650 45367
Sports Center Memberships 1,852 1,950 2,000 1,989 2,015 1,850 1,952 1,802 1,655 1186
Number of Senior Center classes offered 246 320 258 100 183
Senior Center Memberships 2,456 2,623 2,549 2,493 2,094 2,260 2,171 2,171 1,470 210
Quinlan Community Center Rental Revenue $120,000 $109,342 $110,033 $104,150 $128,778 $72,948 $139,590 $139,590 $5,507 $115,093
Community Development
Approved Building Plan Sets 92% Within 5 Days 95% Within 7 Work Days 95% Within 7 Work Days 95% Within 7 Work Days 95% Within 7 Work Days 95% Within 7 Work Days 95% Within 7 Work Days 95% Within 7 Work Days 95% Within 7 Work Days 95% Within 7 Work Days
Discretionary Land Use Applications 99% Within 21 Days 99% Within 21 Work Days 99% Within 21 Work Days 99% Within 21 Work Days 99% Within 21 Work Days 99% Within 21 Work Days 99% Within 21 Work Days 99% Within 21 Work Days 99% Within 21 Work Days 99% Within 21 Work Days
Public Notice of Upcoming Projects 100% Within 10 Days 100% Within 10 Days 100% Within 10 Days 100% Within 10 Days 100% Within 10 Days 100% Within 10 Days 100% Within 10 Days 100% Within 10 Days 100% Within 10 Days 100% Within 10 Days
Number of preliminary reviews 82 90 110 163 142
Number of planning applications received 169 138 194 237 301
Number of permits received 2322 2,321 2,534 2,364 2380
Number of inspections requested 16026 13,625 14,596 13,374 11906
Administrative Services
Accounts Payable Processing 7 Days 7 Days 7 Days 7 Days 7 Days 7 Days 7 Days 7 Days 7 Days 7 Days
Business License Renewal Certificates 3 Days 3 Days 3 Days 3 Days 3 Days 3 Days 3 Days 3 Days 3 Days 3 Days
Number of regular recruitments 21 21 28 24 33
Number of new hires 26 16 14 21 38
Number of temporary new hires 101 105 38 17 77
Number of vendor checks processes 6793 6,536 5,906 4,457 4993
Number of payroll checks process 10387 10,301 10,802 7,816 8119
Number of business license applications 1294 1,154 1,032 1,061 884
Number of journal entries posted 2830 4,521 4,558 3,915 3635
Number of receipts processed 9766 13,913 18,992 10,367 9353
Library
Volumes in Collection - - 361817 364,557 369,924 367,979 367,101 368,461 350,088 367,745
Annual Gate Count - - 869762 880,894 835,073 873,862 904,349 620,007 128,912 387,285
Annual Circulation Children's Items - - 1474996 1,544,095 1,448,265 1,453,173 1,535,842 1,192,880 1,207,878 1,771,986
Annual Circulation Adult and Teen Items - - 999766 1,032,326 950,453 980,609 1,049,166 831,114 750,602 1,056,451
Adult Classes and Events - - 209 215 242 206 207 396 459 62
Adult Classes and Events Attendence - - 11860 8,855 9,242 7,622 8,304 9,986 19,223 861
Teen Classes and Events - - 52 78 66 79 52 57 31 21
Teen Classes and Events Attendence - - 3393 3,135 2,571 2,495 1,283 8,495 7,151 916
Children's Classes and Events - - 458 493 440 426 424 477 464 105
Children's Classes and Events Attendence - - 25529 28,532 25,857 24,675 22,851 26,032 52,634 7,711
Volunteer Hours - - 11786 10,000 9,645 10,302 10,191 6,592 465 4305.8
Sources: City of Cupertino PM & WIs and Santa Clara County Library District
Function/Program
CITY OF CUPERTINO
Operating Indicators by Function/Program
Last Ten Fiscal Years
(Unaudited)
110.
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2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Public Works
Centerlane Miles of Streets 142 142 142 142 142 142 142 142 142 142
Streetlights 2,950 2,950 2,950 2,950 2,950 2,950 2,950 2,950 2,950 2950
Traffic Signals 48 48 48 48 48 52 52 52 52 52
Culture & Recreation
Parks and Open Spaces 19 21 21 21 21 21 21 21 21 21
Park and Landscape Acreage 169 169 169 169 169 169 169 169 169 169
City Trails 1 3 3 3 3 3 3 3 3 3
Golf Courses 1 1 1 1 1 1 1 1 1 1
Community Center 1 1 1 1 1 1 1 1 1 1
Community Hall 1 1 1 1 1 1 1 1 1 1
Senior Center 1 1 1 1 1 1 1 1 1 1
Sports Center 1 1 1 1 1 1 1 1 1 1
Swimming Pools 1 1 1 1 1 1 1 1 1 1
Tennis Courts 17 17 28 28 28 28 28 28 28 28
Sports Fields 41 41 41 41 41 41 41 41 41 41
City Library 1 1 1 1 1 1 1 1 1 1
Source: City of Cupertino Budget Book/GIS Team
Function/Program
CITY OF CUPERTINO
Capital Assets Statistics by Function/Program
Last Ten Fiscal Years
(Unaudited)
111.
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2021-2022 Community Economic Profile
Cupertino, with a population of 60,869 and City limits stretching across 13 square miles, is
considered one of the most prestigious cities to live and work in the Bay Area.
Economic health is an essential component to maintaining a balanced city, which provides high-
level opportunities and services that create and help sustain a sense of community and quality of
life. Public and private interests must be mutual so that success as a partnership is a direct
reflection of success as a community. The cornerstone of this partnership is a cooperative and
responsive government that fosters residential and business prosperity and strengthens working
relationships among all sectors of the community.
Because Cupertino is a mature, 93% built-out city, the City of Cupertino focuses on business
retention and revitalization. Cupertino is world renowned as the home of high-tech giants, such
as Apple, Inc. and Seagate Technologies, and as a community with stellar public schools. De Anza
College, one of the largest single-campus community colleges in the country, is another major
employer and a magnet for attracting local and international students. The City’s proactive
economic development efforts have resulted in an innovative environment for start-ups and
growing companies to thrive. The City strives to retain and attract local companies through active
outreach and a responsive and customer-oriented entitlement process. Being faced with the
COVID-19 pandemic heightened the importance of proactive economic development and the
need to communicate and reach out to the business community.
Cupertino is excited to have a number of new mixed-use development projects offering more
retail and dining options, as well as provide additional housing opportunities to meet the needs
of the growing community.
The Main Street and Nineteen800 mixed-use developments continues to offer a vibrant
downtown area for Cupertino, with a large selection of restaurants and retailers, including
Alexander’s Steakhouse, Eureka!, Rootstock Wine Bar, Oren’s Hummus, Lazy Dog, Ippudo,
HaiDiLao Hot Pot Restaurant, Pressed Juicery, Orangetheory, 85 Degree Bakery, Somi Somi, Sul
& Beans, Target Express, Kura Sushi, Vitality Bowls, Doppio Zero, Boiling Point and Jin Tea, Koja
Kitchen, Bishops Cuts & Colors, Capezio, Howard’s Shoes, Tan Cha, and Meet Fresh. Housing,
office, and a new Residence Inn by Marriott are available to support the thriving area. Benihana,
Bowlmor, and Ice Center Cupertino also serve as long-time anchors.
The limited construction of new retail and commercial development results in strengthening
existing popular venues in Cupertino, including The Marketplace. The Marketplace has a variety
of stores and restaurants popular with students, families, and working professionals. They
include Galpao Gaucho, Daiso, Marukai Groceries, Harumi Sushi, La Patisserie Bakery, Beard
Papa’s, Legend’s Pizza, Icicles, Kong’s Tofu & BBQ, One Pot Shabu Shabu, and Olarn Thai.
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Cupertino Village is undergoing renovations to upgrade existing buildings, construct new
buildings, parking, and open-courtyard space. The shopping center is home to 99 Ranch Market,
Duke of Edinburgh Pub & Restaurant, JSJ Street Kitchen, Kira Kira Beauty, MOD Pizza, Ten Ren
Tea, Fantasia Coffee & Tea, Yoga Wave, Happy Lemon, Kee Wah Bakery, and many other Asian
restaurants, bakeries, and shops.
Cupertino features many other retail opportunities, including TJ Maxx and Home Goods, Whole
Foods, Target, Party City, and over 180 restaurants to serve residents and the local workforce.
There are now seven hotels providing over 1,000 rooms, to serve the area: The Aloft Cupertino,
Cupertino Hotel, Hilton Garden Inn, Juniper Hotel operated by Curio, Marriott Courtyard, the
Residence Inn by Marriott, and the newest addition is the Hyatt House.
The Homestead Square Shopping Center, located at Homestead Road and De Anza Boulevard,
includes a 24-hour Safeway, Ulta Beauty, Ross Stores, Stein Mart, Pet Club, Michael’s, Rite Aid,
FedEx, and numerous restaurants, such as Fish’s Wild, Pho Hoa Noodle Soup, Yayoi Teishoku
Japanese Restaurant, Starbucks, and Chipotle.
Apple completed construction of its new corporate campus, Apple Park, which includes
approximately 2.8 million square feet of office and R&D space north of Highway 280 between
Wolfe Road and Tantau Avenue. A state-of-the-art Visitors Center, Observation Deck, flagship
retail store and café are open to the public seven days a week.
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1.
To the Honorable Mayor and City Council
City of Cupertino, California
In planning and performing our audit of the financial statements of City of Cupertino, California (“City”) as of and
for the year ended June 30, 2022, in accordance with auditing standards generally accepted in the United States
of America and Government Auditing Standards, we considered the City’s internal control over financial reporting
(“internal control”) as a basis for designing our auditing procedures for the purpose of expressing our opinion on
the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal
control. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control.
Our consideration of internal control was for the limited purpose described in the preceding paragraph and was
not designed to identify all deficiencies in internal control that might be significant deficiencies or material
weaknesses and therefore, there can be no assurance that all deficiencies, significant deficiencies, or material
weaknesses have been identified. However, as discussed below, we identified certain matters that we wish to
communicate to you. Matters communicated in this letter are classified as follows:
Deficiency – A control deficiency exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent or detect and correct
misstatements on a timely basis.
Information Technology Controls Deficiency
Control Deficiency: While testing the City’s Information Technology (IT) internal control
environment, we observed deficiencies as noted below.
Context: 1. The City’s New World System does not provide the ability to
generate security logs for the City employees to review transaction
activity. As such, IT management generates quarterly transaction
logs of manually posted journal entries and the Finance
department management reviews these logs as an additional
control to ensure that segregation of duties was maintained in the
entry and approval process. We selected Q2 and Q4 of the four
quarters in the fiscal year and noted both logs were reviewed and
approved. However, for Q4, the review was not performed by
someone independent of the activity being reviewed and for Q2
and Q4 quarters selected, the details of the review were not
documented.
2. Management implemented a review control for user access once
per quarter for the New World System. We selected Q2 and Q4
user access reviews and confirmed that they were performed and
completed timely. However, for the 2 quarters selected for testing,
the reviewer completed the review but there was no independent
secondary review for activity conducted by the initial reviewer.
3. Management could not identify documentation to support the
creation of 1 of 14 New World SQL Admin profiles selected for
testing (which represented the full population of profiles).
Management determined that while the account had a server
admin role on the SQL server, the account had read only access to
the database and could not add/modify/delete users or transaction
data. The account was deleted in FY23.
Potential Effect: The City has implemented additional controls that that were deemed to
be operating effectively to mitigate the impact of these exceptions.
However, if left uncorrected, there is a risk that unauthorized
transactions or user profiles could be added to the City’s IT environment
that would not be timely detected and remediated.
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2.
Information Technology Controls Deficiency
Recommendation: We are aware that the City is considering a potential new investment in
an Enterprise Resource Planning system that could contain
improvements in several areas, including the generation of certain
security logs that could strengthen the City’s IT control environment. In
the meantime, we recommend that the City consider its current staffing
structure and assignment of review duties to ensure that the current
control structure as designed has the correct level of segregation of
duties. Additionally, we recommend that the City consider adding
additional reviews to the SQL Admin profiles that are active to ensure
that documentation is maintained to support that all accounts are for a
valid business purpose.
The purpose of this letter is solely to describe the scope of our testing of internal control over financial reporting
and compliance, and the results of that testing, and not to provide an opinion on the effectiveness of the City’s
internal control over financial reporting or on compliance. This letter is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the City’s internal control over financial reporting
and compliance. Accordingly, this letter is not suitable for any other purpose.
Crowe LLP
Costa Mesa, California
March xx, 2022
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1.
To the Honorable Mayor and City Council
City of Cupertino, California
Professional standards require that we communicate certain matters to keep you adequately informed
about matters related to the financial statement audit that are, in our professional judgment, significant and
relevant to your responsibilities in overseeing the financial reporting process. We communicate such
matters in this report.
AUDITOR’S RESPONSIBILITY UNDER AUDITING STANDARDS GENERALLY ACCEPTED IN THE
UNITED STATES OF AMERICA
Our responsibility is to form and express an opinion about whether the financial statements that have been
prepared by management with your oversight are presented fairly, in all material respects, in conformity
with accounting principles generally accepted in the United States of America. The audit of the financial
statements does not relieve you of your responsibilities and does not relieve management of their
responsibilities. Refer to our engagement letter with the City of Cupertino, California (City) for further
information on the responsibilities of management and of Crowe LLP.
AUDITOR’S RESPONSIBILITY UNDER GOVERNMENT AUDITING STANDARDS
As part of obtaining reasonable assurance about whether the City’s financial statements are free of material
misstatement, we performed tests of the City’s compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the
determination of financial statement amounts or disclosures. However, providing an opinion on compliance
with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion.
The results of our tests disclosed no instances of noncompliance or other matters that are required to be
reported under Government Auditing Standards.
COMMUNICATIONS REGARDING OUR INDEPENDENCE FROM THE CITY
Auditing standards generally accepted in the United States of America require independence for all audits,
and we confirm that we are independent auditors with respect to the City under the independence
requirements established by the American Institute of Certified Public Accountants.
Additionally, we wish to communicate that we have the following relationships with the City that do not
impair our independence but which, in our professional judgment, may reasonably be thought to bear on
our independence and that we gave significant consideration to in reaching the conclusion that our
independence has not been impaired.
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2.
Relationship Safeguards
Non-Audit Services: We were engaged to
perform the following non-audit services during
your last fiscal year:
Assistance with preparation of your
financial statements
Assistance with the preparation of the
State of California Annual State
Controller’s Report
Preparation of the Schedule of
Expenditures of Federal Awards
Assistance with the preparation of the
Data Collection Form
We believe the City’s management is capable of
evaluating and taking responsibility for their
management decisions regarding our services,
and we did not assume the role of an employee
or of management of the City in performing and
reporting on our services.
PLANNED SCOPE AND TIMING OF THE AUDIT
We are to communicate an overview of the planned scope and timing of the audit. Accordingly, the following
matters regarding the planned scope and timing of the audit were discussed with the Audit Committee on
September 26, 2022.
How we proposed to address the significant risks of material misstatement, whether due to
fraud or error.
Our approach to internal control relevant to the audit.
The concept of materiality in planning and executing the audit, focusing on the factors
considered rather than on specific thresholds or amounts.
The nature and extent of specialized skills or knowledge needed to plan and evaluate the
results of the audit, including the use of an auditor's expert.
Where the entity has an internal audit function, the extent to which the auditor will use the work
of internal audit, and how the external and internal auditors can best work together.
Your views and knowledge of matters you consider warrant our attention during the audit, as
well as your views on:
o The allocation of responsibilities between you and management.
o The entity's objectives and strategies, and the related business risks that may result in
material misstatements.
o Significant communications between the entity and regulators.
o Other matters you believe are relevant to the audit of the financial statements.
SIGNIFICANT ACCOUNTING POLICIES AND MANAGEMENT JUDGMENTS AND ACCOUNTING
ESTIMATES
Significant Accounting Policies: The City Council should be informed of the initial selection of and changes
in significant accounting policies or their application. Also, the City Council should be aware of methods
used to account for significant unusual transactions and the effect of significant accounting policies in
controversial or emerging areas where there is a lack of authoritative consensus. We believe management
has the primary responsibility to inform the City Council about such matters. To assist the City Council in
its oversight role, we also provide the following.
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3.
Accounting Standard Impact of Adoption
GASB Statement No. 87, “Leases”
This Statement was issued to improve
accounting and financial reporting for leases by
governments. It requires recognition of certain
lease assets and liabilities for leases that were
previously classified as operating leases and
recognized as inflows of resources or outflows of
resources based on the payment provisions of
the contract. This Statement establishes a single
model for lease accounting based on the
foundational principle that leases are financings
of the right to use an underlying asset. A lessee
will be required to recognize a lease liability and
an intangible right-to-use lease asset, and a
lessor will be required to recognize a lease
receivable and a deferred inflow of resources.
Lessees and lessors should recognize short-term
lease payments as outflows of resources and
inflows of resources, respectively, based on the
payment provisions of the lease contract.
Upon adoption of this Statement, the City
included its applicable leases in the financial
statements and included the new required
disclosures in the notes to the financial
statements. The activity was reported as of the
implementation date of July 1, 2021 but did not
require a restatement of beginning fund
balance/net position due to the change in
accounting principle.
GASB Statement No. 89, “Accounting for
Interest Cost Incurred Before the End of a
Construction Period”
This Statement was issued to enhance the
relevance and comparability of information about
capital assets and the cost of borrowing for a
reporting period and to simplify accounting for
interest cost incurred before the end of a
construction period. This Statement requires
that interest cost incurred before the end of a
construction period be recognized as an expense
in the period in which the cost is incurred for
financial statements prepared using the
economic resources measurement focus. As a
result, interest cost incurred before the end of a
construction period will not be included in the
historical cost of a capital asset reported in a
business-type activity or enterprise fund. This
Statement also reiterates that in financial
statements prepared using the current financial
resources measurement focus, interest cost
incurred before the end of a construction period
should be recognized as an expenditure on a
basis consistent with governmental fund
accounting principles.
Adoption of this Statement did not have a
material impact on the City’s financial position or
results of operations.
GASB Statement No. 92, “Omnibus 2020”
This Statement was issued to enhance
comparability in accounting and financial
reporting and to improve the consistency of
authoritative literature by addressing practice
issues that have been identified during
implementation and application of certain GASB
statements.
Adoption of this Statement did not have a
material impact on the City’s financial position or
results of operations.
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4.
Accounting Standard Impact of Adoption
GASB Statement No. 93, “Replacement of
Interbank Offered Rates”
This Statement was issued to address
accounting and financial reporting implications
that result from the replacement of an interbank
offered rate (IBOR).
Adoption of this Statement did not have a
material impact on the City’s financial position or
results of operations.
GASB Statement No. 97, “Certain Component
Unit Criteria, and Accounting and Financial
Reporting for Internal Revenue Code Section
457 Deferred Compensation Plans”
This Statement was issued to increase
consistency and comparability related to the
reporting of fiduciary component units and IRC
Section 457 deferred compensation plans.
This Statement is designed to mitigate costs of
financial reporting associated with certain
defined contribution pension plans, defined
contribution OPEB plans, and other employee
benefit plans when an organization does not
have a governing board and the primary
government performs the duties that a governing
board typically performs.
Adoption of this Statement did not have a
material impact on the City’s financial position or
results of operations.
Significant Unusual Transactions. No such matters noted
Significant Accounting Policies in
Controversial or Emerging Areas.
No such matters noted
Management Judgments and Accounting Estimates: Further, accounting estimates are an integral part of
the financial statements prepared by management and are based upon management’s current judgments.
These judgments are based upon knowledge and experience about past and current events and
assumptions about future events. Certain estimates are particularly sensitive because of their significance
and because of the possibility that future events affecting them may differ markedly from management’s
current judgments and may be subject to significant change in the near term.
The following describes the significant accounting estimates reflected in the City’s year-end financial
statements, the process used by management in formulating these particularly sensitive accounting
estimates and the primary basis for our conclusions regarding the reasonableness of those estimates.
Significant Accounting
Estimate Process Used by Management Basis for Our Conclusions
Fair Values of Investment
Securities and Other
Financial Instruments
The disclosure of fair values of
securities and other financial
instruments requires management
to use certain assumptions and
estimates pertaining to the fair
values of its financial assets and
financial liabilities.
We tested the propriety of
information underlying
management’s estimates.
Useful Lives of Capital
Assets
Management has determined the
economic useful lives of fixed
assets based on past history of
similar types of assets, future plans
as to their use, and other factors
that impact their economic value to
the City.
We tested the propriety of
information underlying
management’s estimates.
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5.
Significant Accounting
Estimate Process Used by Management Basis for Our Conclusions
Loss Contingencies The City consults with legal counsel
to evaluate outstanding litigation,
claims and assessments. Factors
that affect management’s
evaluation of litigation contingencies
requiring disclosure include the
nature of the contingencies and
whether the outcome could have an
effect on the consolidated financial
statements.
Based on information obtained
from the City’s legal counsel
regarding this matter and
discussions with management,
we concur with management’s
determination that the loss
contingency does not meet
conditions for accrual of being
both probable and estimable,
and, thus, no accrual is
recorded and no specific
disclosures are required.
Pension and
Postretirement Obligations
Amounts reported for pension and
postretirement obligations require
management to use estimates that
may be subject to significant
change in the near term. These
estimates are based on projection
of the weighted average discount
rate, rate of increase in future
compensation levels, and weighted
average expected long-term rate of
return on pension assets.
We reviewed the
reasonableness of these
estimates and assumptions.
AUDITOR’S JUDGMENTS ABOUT QUALITATIVE ASPECTS OF SIGNIFICANT ACCOUNTING
PRACTICES
We are to discuss with you our comments about the following matters related to the City’s accounting
policies and financial statement disclosures.
The accounting policies to the particular circumstances of the City, considering the need to
balance the cost of providing information with the likely benefit to users of the City's financial
statements.
Overall, the disclosures in the financial statements are neutral, consistent, and clear.
The effect of the timing of transactions in relation to the period in which they are recorded is
appropriate.
There were no significant risks and exposures, or uncertainties that are disclosed in the
financial statements.
There were no unusual transactions including nonrecurring amounts recognized during the
period.
There were no particularly sensitive financial statement disclosures.
There were no factors affecting asset and liability carrying values, including the City’s basis for
determining useful lives assigned to tangible and intangible assets.
There was no selective correction of misstatements, for example, correcting misstatements
with the effect of increasing reported earnings, but not those that have the effect of decreasing
reported earnings.
CORRECTED AND UNCORRECTED MISSTATEMENTS
Corrected Misstatements: We are to inform you of material corrected misstatements that were brought to
the attention of management as a result of our audit procedures. There were no such misstatements.
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6.
Uncorrected Misstatements: We are to inform you of uncorrected misstatements that were aggregated by
us during the current engagement and pertaining to the latest and prior period(s) presented that were
determined by management to be immaterial, both individually and in the aggregate, to the financial
statements taken as a whole. For your consideration, we have distinguished misstatements between
known misstatements and likely misstatements. There were no such misstatements.
OTHER COMMUNICATIONS
Communication Item Results
Other Information Included in an Annual
Report
Information may be prepared by management
that accompanies or includes the financial
statements. To assist your consideration of this
information, you should know that we are
required by audit standards to read such
information and consider whether a material
inconsistency exists between the other
information and the financial statements. We are
also to remain alert for indications that:
Material inconsistency exists between the
other information and the auditor’s
knowledge obtained in the audit; or
A material misstatement of fact exists, or the
other information is otherwise misleading.
If we identify a material inconsistency between
the other information and the financial
statements, we are to seek a resolution of the
matter.
We read the other information and noted no
material inconsistencies or misstatement of facts
based on our reading thereof.
Management’s Discussion and Analysis
Information in Supplemental Section
Significant Difficulties Encountered During
the Audit
We are to inform you of any significant difficulties
encountered in dealing with management related
to the performance of the audit.
There were no significant difficulties encountered
in dealing with management related to the
performance of the audit.
Disagreements with Management
We are to discuss with you any disagreements
with management, whether or not satisfactorily
resolved, about matters that individually or in the
aggregate could be significant to the City’s
financial statements or the auditor’s report.
During our audit, there were no such
disagreements with management.
Difficulties or Contentious Matters
We are required to discuss with the City Council
any difficulties or contentious matters for which
we consulted outside of the engagement team.
During the audit, there were no such issues for
which we consulted outside the engagement
team.
Circumstances that Affect the Form and
Content of the Auditor's Report
We are to discuss with you any circumstances
that affect the form and content of the auditor's
report, if any.
The following circumstances affect the form and
content of the auditor's report:
With the implementation of GASB Statement 87
as previously discussed, we consider it
necessary to include an emphasis-of-matter
paragraph in accordance with the applicable
auditing standards as issued by the American
Institute of Certified Public Accountants.
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7.
Communication Item Results
Consultations with Other Accountants
If management consulted with other accountants
about auditing and accounting matters, we are to
inform you of such consultation, if we are aware
of it, and provide our views on the significant
matters that were the subject of such
consultation.
We are not aware of any instances where
management consulted with other accountants
about auditing or accounting matters since no
other accountants contacted us, which they are
required to do by Statement on Auditing
Standards No. 50, before they provide written or
oral advice.
Representations the Auditor Is Requesting
from Management
We are to provide you with a copy of
management’s requested written representations
to us.
We direct your attention to a copy of the letter of
management’s representation to us provided
separately.
Significant Issues Discussed, or Subject to
Correspondence, With Management
We are to communicate to you any significant
issues that were discussed or were the subject of
correspondence with management.
There were no such significant issues discussed,
or subject to correspondence, with management.
Significant Related Party Findings or Issues
We are to communicate to you significant
findings or issues arising during the audit in
connection with the City’s related parties.
There were no such findings or issues that are,
in our judgment, significant and relevant to you
regarding your oversight of the financial reporting
process.
Other Findings or Issues We Find Relevant or
Significant
We are to communicate to you other findings or
issues, if any, arising during the audit that are, in
our professional judgment, significant and
relevant to you regarding your oversight of the
financial reporting process.
There were no such other findings or issues that
are, in our judgment, significant and relevant to
you regarding your oversight of the financial
reporting process.
We are pleased to serve the City as its independent auditors and look forward to our continued relationship.
We provide the above information to assist you in performing your oversight responsibilities and would be
pleased to discuss this letter or any matters further, should you desire. This letter is intended solely for the
information and use of the Mayor and City Council and, if appropriate, management, and is not intended to
be and should not be used by anyone other than these specified parties.
Crowe LLP
Costa Mesa, California
March xx, 2023 Pre
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CITY OF CUPERTINO,
CALIFORNIA
SINGLE AUDIT
Year ended June 30, 2022
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CITY OF CUPERTINO
Cupertino, California
SINGLE AUDIT
Year ended June 30, 2022
CONTENTS
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE
AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS .......................... 1
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE FOR EACH MAJOR
FEDERAL PROGRAM; REPORT ON INTERNAL CONTROL OVER COMPLIANCE;
AND REPORT ON THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
REQUIRED BY THE UNIFORM GUIDANCE ........................................................................................ 3
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS ................................................................... 6
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS ............................................... 7
SCHEDULE OF FINDINGS AND QUESTIONED COSTS ....................................................................... 8
SCHEDULE OF PRIOR YEAR FINDINGS ............................................................................................... 11
CORRECTIVE ACTION PLAN.................................................................................................................. 12
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Crowe LLP
Independent Member Crowe Global
(Continued)
1.
REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND
OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN
ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the Honorable Mayor and City Council
City of Cupertino, California
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the financial statements of the governmental
activities, the business-type activities, each major fund, and the aggregate remaining fund information of
the City of Cupertino, California (the City), as of and for the year ended June 30, 2022, and the related
notes to the financial statements, which collectively comprise the City’s basic financial statements, and
have issued our report thereon dated March xx, 2023.
Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control
over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in
the circumstances for the purpose of expressing our opinions on the financial statements, but not for the
purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, we do not
express an opinion on the effectiveness of the City’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management
or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in
internal control, such that there is a reasonable possibility that a material misstatement of the entity’s
financial statements will not be prevented or detected and corrected on a timely basis. A significant
deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a
material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weakness. However, material weaknesses
may exist that have not been identified.
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2.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free from
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts, and grant agreements, noncompliance with which could have a direct and material effect on the
financial statements. However, providing an opinion on compliance with those provisions was not an
objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed
no instances of noncompliance or other matters that are required to be reported under Government Auditing
Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance
and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal
control or on compliance. This report is an integral part of an audit performed in accordance with
Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly,
this communication is not suitable for any other purpose.
Crowe LLP
Costa Mesa, California
March xx, 2023
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Crowe LLP
Independent Member Crowe Global
(Continued)
3.
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE FOR
EACH MAJOR FEDERAL PROGRAM; REPORT ON INTERNAL CONTROL OVER
COMPLIANCE; AND REPORT ON THE SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS REQUIRED BY THE UNIFORM GUIDANCE
To the Honorable Mayor and City Council
City of Cupertino, California
Report on Compliance for Each Major Federal Program
Opinion on Each Major Program
We have audited the City of Cupertino, California (the City’s) compliance with the types of compliance
requirements described in the OMB Compliance Supplement that could have a direct and material effect
on each of City’s major federal programs for the year ended June 30, 2022. The City’s major federal
programs are identified in the summary of auditor’s results section of the accompanying schedule of findings
and questioned costs.
In our opinion, the City of Cupertino complied, in all material respects, with the types of compliance
requirements referred to above that could have a direct and material effect on each of its major federal
programs for the year ended June 30, 2022.
Basis for Opinion on Each Major Federal Program
We conducted our audit of compliance in accordance with auditing standards generally accepted in the
United States of America (GAAS); the standards applicable to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States; and the audit requirements of
Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those
standards and the Uniform Guidance are further described in the Auditor’s Responsibilities for the Audit of
Compliance section of our report.
We are required to be independent of the City and to meet our other ethical responsibilities, in accordance
with relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion on compliance for each major federal
program. Our audit does not provide a legal determination of the City’s compliance with the compliance
requirements referred to above.
Responsibilities of Management for Compliance
Management is responsible for compliance with the requirements referred to above and for the design,
implementation, and maintenance of effective internal control over compliance with the requirements of
laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the City’s
federal programs.
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(Continued)
4.
Auditor’s Responsibilities for the Audit of Compliance
Our objectives are to obtain reasonable assurance about whether material noncompliance with the
compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion
on the City’s compliance based on our audit. Reasonable assurance is a high level of assurance but is not
absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS,
Government Auditing Standards, and the Uniform Guidance will always detect material noncompliance
when it exists. The risk of not detecting material noncompliance resulting from fraud is higher than for that
resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or
the override of internal control. Noncompliance with the compliance requirements referred to above is
considered material, if there is a substantial likelihood that, individually or in the aggregate, it would
influence the judgment made by a reasonable user of the report on compliance about the City’s compliance
with the requirements of each major federal program as a whole.
In performing an audit in accordance with GAAS, Government Auditing Standards, and the Uniform
Guidance, we
exercise professional judgment and maintain professional skepticism throughout the audit.
identify and assess the risks of material noncompliance, whether due to fraud or error, and design
and perform audit procedures responsive to those risks. Such procedures include examining, on a
test basis, evidence regarding the City’s compliance with the compliance requirements referred to
above and performing such other procedures as we considered necessary in the circumstances.
obtain an understanding of the City’s internal control over compliance relevant to the audit in order
to design audit procedures that are appropriate in the circumstances and to test and report on
internal control over compliance in accordance with the Uniform Guidance, but not for the purpose
of expressing an opinion on the effectiveness of the City’s internal control over compliance.
Accordingly, no such opinion is expressed.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal
control over compliance that we identified during the audit.
Report on Internal Control over Compliance
Our consideration of internal control over compliance was for the limited purpose described in the Auditor’s
Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies
in internal control over compliance that might be material weaknesses or significant deficiencies in internal
control over compliance and therefore, material weaknesses or significant deficiencies may exist that were
not identified. However, as discussed below, we did identify certain deficiencies in internal control over
compliance that we consider to be material weaknesses.
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their assigned
functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a
federal program on a timely basis. A material weakness in internal control over compliance is a deficiency,
or a combination of deficiencies, in internal control over compliance, such that there is a reasonable
possibility that material noncompliance with a type of compliance requirement of a federal program will not
be prevented, or detected and corrected, on a timely basis. We consider the deficiency in internal control
over compliance described in the accompanying schedule of findings and questioned costs as item 2022-
001 to be a material weakness.
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5.
A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies,
in internal control over compliance with a type of compliance requirement of a federal program that is less
severe than a material weakness in internal control over compliance, yet important enough to merit attention
by those charged with governance.
Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control
over compliance. Accordingly, no such opinion is expressed.
Government Auditing Standards requires the auditor to perform limited procedures on the City’s response
to the internal control over compliance findings identified in our audit described in the accompanying
schedule of findings and questioned costs. The City’s response was not subjected to the other auditing
procedures applied in the audit of compliance and, accordingly, we express no opinion on the response.
The City is responsible for preparing a corrective action plan to address each audit finding included in our
auditor's report. The City's corrective action plan was not subjected to the auditing procedures applied in
the audit of compliance and, accordingly, we express no opinion on it.
The purpose of this report on internal control over compliance is solely to describe the scope of our testing
of internal control over compliance and the results of that testing based on the requirements of the Uniform
Guidance. Accordingly, this report is not suitable for any other purpose.
Report on Schedule of Expenditures of Federal Awards Required by the Uniform Guidance
We have audited the financial statements of the governmental activities, the business-type activities, each
major fund, and the aggregate remaining fund information as of and for the year ended June 30, 2022, and
the related notes to the financial statements, which collectively comprise the City’s basic financial
statements. We issued our report thereon dated March xx, 2023, which contained unmodified opinions on
those financial statements. Our audit was conducted for the purpose of forming opinions on the financial
statements that collectively comprise the basic financial statements. The accompanying schedule of
expenditures of federal awards is presented for purposes of additional analysis as required by the Uniform
Guidance and is not a required part of the basic financial statements. Such information is the responsibility
of management and was derived from and relates directly to the underlying accounting and other records
used to prepare the basic financial statements. The information has been subjected to the auditing
procedures applied in the audit of the financial statements and certain additional procedures, including
comparing and reconciling such information directly to the underlying accounting and other records used
to prepare the basic financial statements or to the basic financial statements themselves, and other
additional procedures in accordance with auditing standards generally accepted in the United States of
America. In our opinion, the schedule of expenditures of federal awards is fairly stated in all material
respects in relation to the basic financial statements as a whole.
Crowe LLP
Costa Mesa, California
March xx, 2023Pre
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CITY OF CUPERTINO, CALIFORNIA
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Year ended June 30, 2022
See accompanying notes to schedule of expenditures of federal awards.
6.
Federal Agreement Number
Assistance / Pass-Through Amount
Federal Grantor/Listing Identifying Federal Provided to
Pass-Through Grantor/Program or Cluster Title Number Number Expenditures Subrecipients
U.S. Department of Housing and Urban Development
CDBG – Entitlement Grants Cluster
Community Development Block Grants/Entitlement Grants 14.218 B21MC060057 449,312$ 373,106$
Program Income 14.218 N/A 7,943 -
COVID-19 - CDBG 14.218 N/A 113,716 -
Total U.S. Department of Housing and Urban Development 570,971 373,106
U.S Department of Treasury
COVID-19 - American Rescue Plan Act of 2021 21.027 N/A 3,594,028 -
Total U.S. Department of Treasury 3,594,028 -
U.S. Department of Transportation
Passed through the State of California Department of Transportation
Highway Planning and Construction Cluster
Highway Safety Improvement Program (HSIP)20.205 HSIPL-5318 (030)9,290 -
Total U.S. Department of Transportation 9,290 -
Total Expenditures of Federal Awards 4,174,289$ 373,106$
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CITY OF CUPERTINO, CALIFORNIA
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Year ended June 30, 2022
7.
NOTE 1 - BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the
City of Cupertino, California (the City) for the year ended June 30, 2022. The information in this schedule
is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the City’s
operations, it does not present the financial position, changes in net position, or cash flows of the City.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the principles contained in the Uniform Guidance wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. The City has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
NOTE 3 – MAJOR PROGRAMS
In accordance with the Uniform Guidance, major programs for the City are individual programs or a cluster
of programs determined by using a risk-based analysis. The threshold for distinguishing Type A and Type
B programs was $750,000 and $187,500, respectively. Awards from the CDBG-Entitlement Grants Cluster
and Highway Planning and Construction Cluster are designated as clusters of programs.
NOTE 4 - NON-CASH ASSISTANCE
The City had no non-cash assistance during the year.
NOTE 5 - FEDERAL INSURANCE
The City had no Federal Insurance in force during the year.
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CITY OF CUPERTINO, CALIFORNIA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
Year ended June 30, 2022
(Continued)
8.
SECTION I - SUMMARY OF AUDITOR’S RESULTS
Financial Statements
Type of report the auditor issued on whether
the financial statements audited were prepared
in accordance with GAAP: Unmodified
Internal control over financial reporting:
Material weakness(es) identified? Yes X No
Significant deficiency(ies) identified? Yes X None reported
Noncompliance material to financial statements noted? Yes X No
Federal Awards
Internal control over major federal programs:
Material weakness(es) identified? X Yes No
Significant deficiencies identified not
considered to be material weaknesses? Yes X None reported
Type of auditor’s report issued on compliance for
major federal programs: Unmodified
Any audit findings disclosed that are required to be
reported in accordance with 2 CFR 200.516(a)? X Yes No
Identification of major federal programs:
Federal Assistance Listing Number Name of Federal Program or Cluster
21.027 COVID-19 – American Rescue Plan
Act of 2021
Dollar threshold used to distinguish between
type A and type B programs: $ 750,000
Auditee qualified as low-risk auditee? Yes x No
SECTION II – FINANCIAL STATEMENT FINDINGS
None.
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CITY OF CUPERTINO, CALIFORNIA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
Year ended June 30, 2022
(Continued)
9.
SECTION III – FEDERAL AWARD FINDINGS AND QUESTIONED COSTS
FINDING 2022-001 – CONTROLS AND NONCOMPLIANCE OVER REPORTING
Federal Department: Department of Treasury
Assistance Listing Number(s):21.027
Program Name(s): COVID-19 – American Rescue Plan Act of 2021
Questioned Costs: None
Criteria
Title 2 U.S. Code of Federal Regulations Part 200 (2 CFR 200) Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards, section 303(a) states, the non-Federal entity must
establish and maintain effective internal control over the Federal award that provides reasonable assurance
that the non-Federal entity is managing the Federal award in compliance with Federal statues, regulations,
and the terms and conditions of the Federal award. These internal controls should be in compliance with
guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General
of the United States or the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO). These would include segregation of duties over
report preparation and submission to ensure compliance with deadline requirements. Additionally, per the
“Compliance and Reporting Guidance – State of Local Fiscal Recovery Funds” published by the U.S.
Department of Treasury, the Interim Report is required to be submitted by August 31, 2021, while the Project
and Expenditure Report is required to be submitted by April 30, 2022 and then annually thereafter.
Condition
During our assessment of the control activities for the American Rescue Plan Act of 2021 (ARPA), we
observed that the City did not have a control in place to ensure proper segregation of duties between report
preparation, approval and submission to the US. Department of Treasury, as well a control to ensure timely
submission of ARPA reports. As such, the required Project and Expenditure report was not submitted on
a timely basis.
Questioned Costs
None
Context
The City is required to submit an Interim Report and also a Project and Expenditure Report. For the Interim
Report, there was no control in place to ensure segregation of duties between the report preparer and the
report reviewer, although we did not note any exceptions in the data submitted by the City and the report
was submitted timely. For the Project and Expenditure Report, there also was no control in place to ensure
segregation of duties between the report preparer and the report reviewer, with the City not submitting the
report (which had a due date of April 2022) until January 2023. However, we did not note any exceptions
in the data submitted by the City in the Project and Expenditure Report.
Effect
Failure to implement sufficient internal controls to ensure the timely filing of reports in accordance with
federal regulations could result in the program being noncompliant with federal statutes, regulations and
the terms and conditions of the federal awards.
Cause
The City did not implement an effective control to ensure reports had proper segregation of duties and that
reports were submitted timely. In addition, the City wasn’t aware that a Project and Expenditure was
required to be submitted.
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CITY OF CUPERTINO, CALIFORNIA
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
Year ended June 30, 2022
10.
Identification as a Repeat Finding, if Applicable
N/A
Recommendation
We recommend the City revisit its control design and revise its procedures to ensure proper controls over
preparation, review and submission of ARPA reports and also ensure the timely submission of all reports.
Views of Responsible Officials and Planned Corrective Actions
See Corrective Action Plan.
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CITY OF CUPERTINO, CALIFORNIA
SCHEDULE OF PRIOR YEAR FINDINGS
Year ended June 30, 2022
11.
None.
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INDEPENDENT ACCOUNTANT’S REPORT ON APPLYING AGREED-UPON PROCEDURES
To the Honorable Mayor and City Council
City of Cupertino, California
10300 Torre Avenue
Cupertino, California 95014-3202
Ladies and Gentlemen:
We have performed the procedures enumerated in Appendix A on the Appropriations Limit Worksheet
(“Worksheet”) of the City of Cupertino, California (the “City”), related to the City’s compliance with Section
1.5 of Article XIIIB of the California Constitution during the period ending June 30, 2022. The City’s
management is responsible for the Worksheet.
The City has agreed to and acknowledged that the procedures performed are appropriate to meet the
intended purpose of assisting users in understanding the Worksheet. We make no representation regarding
the appropriateness of the procedures either for the purpose for which this report has been requested or
for any other purpose. This report may not be suitable for any other purpose. The procedures performed
may not address all the items of interest to a user of this report and may not meet the needs of all users of
this report and, as such, users are responsible for determining whether the procedures performed are
appropriate for their purposes. An agreed-upon procedures engagement involves performing specific
procedures that the engaging party has agreed to and acknowledged to be appropriate for the intended
purpose of the engagement and reporting on findings based on the procedures performed.
The procedures and the associated findings are contained in Appendix A.
We were engaged by the City to perform this agreed-upon procedures engagement and conducted our
engagement in accordance with attestation standards established by the American Institute of Certified
Public Accountants. We were not engaged to and did not conduct an examination or review, the objective
of which would be the expression of an opinion or conclusion, respectively, on the Worksheet. Accordingly,
we do not express such an opinion or conclusion. Had we performed additional procedures, other matters
might have come to our attention that would have been reported to you.
We are required to be independent of the City and to meet our other ethical responsibilities, in accordance
with the relevant ethical requirements related to our agreed-upon procedures engagement.
This report is intended solely for the information and use of the Honorable Mayor and the City Council and
is not intended to be and should not be used by anyone other than these specified parties.
Crowe LLP
Costa Mesa, California
May 10, 2022
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APPENDIX A – SCHEDULE OF PROCEDURES AND FINDINGS
The procedures to be performed were as follows:
1. Procedure: We obtained the Worksheet provided by the City and determined that the 2020-2021
Limit amounting to $114,666,491 and annual adjustment factors were adopted by Resolution 21-054
of the Honorable Mayor and City Council. We also determined that the population and inflation factors
were selected by a recorded vote of the Honorable Mayor and City Council.
Result: The procedures were performed without exception.
2. Procedure: We recomputed the 2021-2022 Appropriations Limit by multiplying the 2020-2021
Appropriations Limit by the adjustment factors.
Result: The procedures were performed without exception.
3. Procedure: For the Worksheet, we agreed the Per Capita Income, County and City Population
Factors to California State Department of Finance Worksheets.
Result: The procedures were performed without exception.
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INDEPENDENT ACCOUNTANT’S REPORT ON APPLYING AGREED-UPON PROCEDURES
To the Honorable Mayor and City Council
City of Cupertino, California
10300 Torre Avenue
Cupertino, California 95014-3202
Ladies and Gentlemen:
We have performed the procedures enumerated in Appendix A on the Investment Policy of the City of
Cupertino, California (the “City”). The City’s management is responsible for the Investment Policy.
The City has agreed to and acknowledged that the procedures performed are appropriate to meet the
intended purpose of assisting users in understanding the Investment Policy. We make no representation
regarding the appropriateness of the procedures either for the purpose for which this report has been
requested or for any other purpose. This report may not be suitable for any other purpose. The procedures
performed may not address all the items of interest to a user of this report and may not meet the needs of
all users of this report and, as such, users are responsible for determining whether the procedures
performed are appropriate for their purposes. An agreed-upon procedures engagement involves
performing specific procedures that the engaging party has agreed to and acknowledged to be appropriate
for the intended purpose of the engagement and reporting on findings based on the procedures performed.
The procedures and the associated findings are contained in Appendix A.
We were engaged by the City to perform this agreed-upon procedures engagement and conducted our
engagement in accordance with attestation standards established by the American Institute of Certified
Public Accountants. We were not engaged to and did not conduct an examination or review, the objective
of which would be the expression of an opinion or conclusion, respectively, on the Investment Policy.
Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures,
other matters might have come to our attention that would have been reported to you.
We are required to be independent of the City and to meet our other ethical responsibilities, in accordance
with the relevant ethical requirements related to our agreed-upon procedures engagement.
This report is intended solely for the information and use of the City and is not intended to be, and should
not be, used by anyone other than the specified party.
Crowe LLP
Costa Mesa, California
May 10, 2022
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APPENDIX A – SCHEDULE OF PROCEDURES AND FINDINGS
The procedures to be performed were as follows:
1. Procedure: We obtained the Investment Policies (policies), dated May 2021, approved by the
Honorable Mayor and the City Council. We compared the investments authorized by the policy
with the investments listed in the March 2022 Treasurer’s Investment Report to determine if all
investment types are allowed by the investment policy.
Result: The procedure was performed with no exceptions noted.
2. Procedure: We compared the City’s Investment Policy with California Government Code Section
53601 to determine whether the City’s Investment Policy complied with California Government
Code Section 53601.
Result: The procedure was performed with no exceptions noted.
3. Procedure: We compared the March 2022 Treasurer’s Investment Report with California
Government Code Section 53646 to ensure that the March 2022 Treasurer’s Investment Report
complied with California Government Code Section 53646.
Result: The procedure was performed with no exceptions noted.
4. Procedure: We inquired of the Finance Manager whether investment performance statistics and
activity reports were generated on a quarterly basis for presentation to the Oversight (Audit)
Committee, City Manager and the Honorable Mayor and the City Council, as required by the
Investment Policy.
Result: The procedure was performed with no exceptions noted.
5. Procedure: We inquired of the Finance Manager and documented our understanding of the wire
transfer procedures.
Result: The procedure was performed with no exceptions noted. We noted that the City’s wire
transfer procedures indicate that if a wire is initiated by one of the City’s accountants, then the
Finance Manager has the authority to approve the transfer, pending that the applicable expenses
and reasoning/need for the wire are appropriate relating to the request. If the Finance Manager
initiates the wire, then the Director of Administration can approve the wire transfer pending the
requirements noted above.
6. Procedure: We randomly selected three investment sales/maturities from various quarters of
Treasurer’s Reports and performed the following:
• Traced investment type to the supporting broker’s confirmation and the Chandler Report.
• Traced the maturity date to the supporting broker’s confirmation and the Chandler Report.
• Traced the amount of the investment sold to the supporting broker’s confirmation and the
Chandler Report.
Result: The procedure was performed with no exceptions noted.
7. Procedure: We randomly selected two investments purchased (one as of October 2021 and one
as of March 2022) for fiscal year 2022 from the City’s investments files and performed the following:
• Trace the purchased investments to the corresponding Treasurer’s Investment Report for
the month in which the investments were acquired.
• Agree the amount, terms and interest rate to the Treasurer’s Investment Report.
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• Verify that the investment type is authorized by the Investment Policy by comparing the
type of investment to the allowable types per the Investment Policy.
Result: The procedure was performed with no exceptions noted.
8. Procedure: We obtained the Wells Fargo Bank Market/Cost Value Comparison Report, the City’s
third party investment safekeeping custodian, for March 2022 and traced the following from each
investment listed in the Wells Fargo statement to the City’s March 2022 Treasurer’s Investment
Report:
• Investment description
• Market value
• Purchase date
• Maturity date
• Coupon rate
Result: Per observation of the Principal Custody Solution (formerly Wells Fargo Bank) Market/Cost
Value Comparison report, purchase dates are not presented and could not be agreed to the City’s
Treasury Investment Report. This section of the procedure could not be performed. Crowe noted a
variance of $175,328.29 between the Cost Value Comparison Report and March 2022 Treasurer’s
Investment report. Per inquiry with management, the discrepancy in market value is due to a timing
issue when the City’s investment advisor obtained market value pricing of the investments for their
report vs the City’s March 2022 Treasurer’s Investment report that was independently prepared by
the City with information from the investment custodian. The City’s investment advisor and the
City’s investment custodian independently represented that the information reported was valid
based on the timing of when their data was sourced.
9. Procedure: We traced three randomly selected Federal Agency investments that were purchased
in fiscal 2022 and traced the reported ratings to Moody’s rating online.
Result: The procedure was performed with no exception noted.
10. Procedure: For the March 2022 Treasurer’s Investment Report, we re-computed or obtained
third-party corroborating evidence of the correct listing of:
• Average Yield
• Market value
• Purchase date
• Duration
Result: We obtained the March 2022 Treasurer’s Investment Report prepared by Chandler Asset
Management, Inc. and the Wells Fargo (formerly Wells Fargo Bank) Market/Cost Value
Comparison. Crowe performed the procedure and noted the following:
• 1) Average Market Yield return has a difference of 0.01% from what was presented on
the Treasurer’s report.
• 2) Market Value variance of $175,328.29 between the Chandler Asset Management, Inc.
report and March 2022 Treasurer’s Investment report that was independently prepared
by the City with information from the investment custodian.
• 3) Purchase Date – no exception noted.
• 4) The average modified duration has a variance of 0.23 compared to what was noted in
the March 2022 Treasurer’s Investment Report.
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REPORT OF INDEPENDENT ACCOUNTANTS ON APPLYING AGREED-UPON
PROCEDURES
To the Honorable Mayor and City Council
City of Cupertino, California
10300 Torre Avenue
Cupertino, California 95014-3202
Ladies and Gentlemen:
We have performed the procedures enumerated in Appendix A on the 2019 Clean Water and Storm
Protection Fee of the City of Cupertino, California (the “City”). The City’s management is responsible for
the 2019 Clean Water and Storm Protection Fee.
The City has agreed to and acknowledged that the procedures performed are appropriate to meet the
intended purpose of assisting users in understanding the 2019 Clean Water and Storm Protection Fee. We
make no representation regarding the appropriateness of the procedures either for the purpose for which
this report has been requested or for any other purpose. This report may not be suitable for any other
purpose. The procedures performed may not address all the items of interest to a user of this report and
may not meet the needs of all users of this report and, as such, users are responsible for determining
whether the procedures performed are appropriate for their purposes. An agreed-upon procedures
engagement involves performing specific procedures that the engaging party has agreed to and
acknowledged to be appropriate for the intended purpose of the engagement and reporting on findings
based on the procedures performed.
The procedures and the associated findings are contained in Appendix A.
We were engaged by the City to perform this agreed-upon procedures engagement and conducted our
engagement in accordance with attestation standards established by the American Institute of Certified
Public Accountants. We were not engaged to and did not conduct an examination or review, the objective
of which would be the expression of an opinion or conclusion, respectively, on the 219 Clean Water and
Storm Protection Fee. Accordingly, we do not express such an opinion or conclusion. Had we performed
additional procedures, other matters might have come to our attention that would have been reported to
you.
We are required to be independent of the City and to meet our other ethical responsibilities, in accordance
with the relevant ethical requirements related to our agreed-upon procedures engagement.
This report is intended solely for the information and use of the City and is not intended to be and should
not be used by anyone other than these specified parties.
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Crowe LLP
Costa Mesa, California
May 10, 2022
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APPENDIX A – SCHEDULE OF PROCEDURES AND FINDINGS
The procedures to be performed were as follows:
1. Procedure: We selected 100% of the revenue transactions recorded in the Environmental
Management/Clean Creeks Special Revenue Fund (Fund 230) for the period January 1, 2021 thru
December 31, 2021 and performed the following procedures:
a. Observed the Clean Water and Storm Protection fees have been deposited and recorded in
Fund 230 per Section 3.38.160A of the Cupertino Municipal Code.
b. Obtained the County tax remittance statement for each specific receipt (as provided by the
County) and observed the cash collected in total on the statement agrees to the amount
deposited in Fund 230 in accordance with Section 3.38.070 of the Cupertino Municipal Code,
which specifies that the City elects to have fees collection on the tax roll in the same manner
as property taxes.
c. Obtained the City support <e.g., schedule of fees billed to property owners in situation where
the fee was not included in the annual tax assessment or Schedule> and observed the cash
collected in total per the City’s Schedule agrees to the amount deposited in Fund 230 in
accordance with Section 3.38.090 of the Cupertino Municipal Code, which specifies that the
City Finance Department bills out fees to property owners in situations where the fee was not
included in the annual tax assessment.
Finding: The procedure was performed with no exceptions noted.
2. Procedure: We selected 60% of the non-payroll expenditure transactions recorded in Fund 230 for
the period January 1, 2021 thru December 31, 2021 and performed the following procedures:
a. Obtained the City invoices and purchase orders for the expenditures selected, and observed
the description of expenditures on the invoice and purchase order, as well as the assigned
object code on the purchase order from the City were for allowed purposes per Section
3.38.010B of the Cupertino Municipal Code, which specifies allowable activities are defined as
acquisition, construction, reconstruction, maintenance, and operation of the storm drainage
system of the City or related green infrastructure or other activities required by the City’s
NPDES permits, to repay principal and interest on any bonds which may hereafter be issued
for said purposes, to repay loans or advances which may hereafter be made for said purposes.
b. Obtained the City invoices and purchase orders for the nonpayroll expenditures selected and
observe the description of expenditures on the invoice and purchase order were for allowed
purposes per Section 3.38.0160A and 3.38.0160B of the Cupertino Municipal Code. Section
3.38.160A of the Cupertino Municipal Code specifies allowable from the overall perspective as
direct costs and administrative costs, while 3.38.160B of the Cupertino Municipal Code
specifically defines direct costs as wages and salaries and costs of employee fringe benefits
and mileage reimbursement attributable to said collection activities, with administrative costs
as all costs for computer service, materials, postage supplies and equipment.
c. Obtained the City documentation for all refunds issued and observe the Finance Director
authorized the refund through written approval in accordance with Section 3.38.170 of the
Cupertino Municipal Code.
Finding: The procedure was performed with no exceptions noted.
3. Procedure: We sampled one pay period (selected on a haphazard basis) between January 1, 2021
and December 31, 2021 to recompute employee allocation in the general ledger for activity recorded
in Fund 230 and compared to the City’s calculations as follows:
a. Sampled at least 10% of the time cards of applicable employees charged in Fund 230 to the
selected payroll period (selected on a haphazard basis) and observe written approval by
supervisors.
b. Obtained documentation of the general ledger distribution for the payroll period selected and
recalculate the distribution and agree the results to the budgeted allocation and the functional
allocation matrix established by management. The budgeted allocation shall be specified by
City-established allocation worksheets used to estimate the amount of actual time spent on the
acquisition, construction, reconstruction, maintenance, and operation of the storm drainage
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system of the City or related green infrastructure or other activities required by the City’s
NPDES permits.
Finding: The procedure was performed with no exceptions noted.
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CITY OF CUPERTINO
Agenda Item
23-12175 Agenda Date: 3/27/2023
Agenda #: 3.
ACTION ITEM Subject: Consider the Monthly Treasurer's Investment Report for February 2023
Receive the Monthly Treasurer's Investment Report for February 2023 and recommend filing with
City Council
Presenter: Thomas Leung, Budget Manager, and Chandler Asset Management
4:55(20)
CITY OF CUPERTINO Printed on 3/24/2023Page 1 of 1
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AUDIT COMMITTEE STAFF REPORT
Meeting: March 27, 2023
Subject
Consider the Monthly Treasurer's Investment Report for February 2023
Recommended Action
Receive the Monthly Treasurer's Investment Report for February 2023 and recommend
filing with City Council
Reasons for Recommendation
Background
On May 19, 2022, the City Council approved the City's Investment Policy. Per the City's
Investment Policy, the Treasurer shall submit monthly transaction reports to the City
Council within 30 days of the end of the reporting period per California Government Code
Section 53607. In addition to the monthly transaction reports, quarterly investment reports
are submitted to the City Council approximately 45 days following the end of the quarter.
The quarterly investment report offers a more extensive discussion of the City's economy,
cash flow, and investments.
The City's Municipal Code Section 2.24.050 Investment Authority states that the Treasurer
shall make a monthly report of all investment transactions to the City Council. Lastly, the
City's Municipal Code Section 2.88.100 Duties–Powers–Responsibilities lists one of the
powers and functions of the Audit Committee is "to review the monthly Treasurer's
report."
Per the referenced code provisions, a Treasurer's Investment Report shall be submitted to
the Audit Committee and City Council every month.
Treasurer's Investment Report
The report provides an update on the City's investment portfolio for the month ending
February 28, 2023. The report is as of March 22, 2023.
The attached statements include balances and transactions of the City's investments with
the Local Agency Investment Fund (LAIF) and Chandler Asset Management. While not
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governed by the City's Investment Policy, statements for the Public Agency Retirement
Services (PARS) Section 115 Trusts are also attached per a request from the Monthly
Treasurer's Report Subcommittee.
The City's General Ledger cash and investments balance was $227.0 million, a $3.0 million
decrease from the prior month due to receipts of $3.0 million, disbursements of $(6.7)
million, and journal adjustments of $0.6 million.
Cash and Investments – General Ledger Balance
Fund Type
Month Ending
January 31,
2023
Receipts Disbursements Journal
Adjustments*
Month Ending
February 28,
2023
General Fund 124,245,311 2,257,903 (5,088,916) 50,848 121,465,145
Special Revenue 43,941,431 153,325 (468,563) - 43,626,194
Debt Service 2,322,250 - - - 2,322,250
Capital Projects 38,731,638 462,480 (288,309) - 38,905,809
Enterprise 11,728,653 158,713 (344,838) 601,620 12,144,148
Internal Service 9,051,351 - (510,244) (8,417) 8,532,690
Total $230,020,633 $3,032,422 $(6,700,870) $644,050 $226,996,235
*Journal adjustments include transactions recorded in other systems and imported into the financial system,
Council-approved budget adjustments, quarterly Cost Allocation Plan (CAP) charges, and quarterly interest
earnings.
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The $227.0 million in cash and investments includes $38.8 million in cash, $21.2 million in
cash equivalents, $149.7 million in investments, and $17.2 million restricted for funding
pension costs.
The City pools cash for all funds except restricted funds. However, the City accounts for
interest earnings, revenues, and expenditures separately for each fund to adequately meet
the purpose and restrictions of each funding source. Pooling funds is a common and
appropriate practice used in public agencies. By pooling funds, the City can benefit from
economies of scale, diversification, liquidity, and ease of administration.
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Cash and Investments – General Ledger Balance
Month Ending
January 31, 2023
Month Ending
February 28, 2023
% of
Portfolio
Cash in banks and on hand
Operating Checking (Wells Fargo) 41,789,796 38,744,116 17%
Workers' Compensation Checking (Wells Fargo) 20,262 41,845 0%
Payroll Checking (Wells Fargo) - - 0%
Restricted for Bond Repayments1 (BNY Mellon) - - 0%
Petty Cash and Change 5,000 4,700 0%
Cash Equivalents
Local Agency Investment Fund 21,242,141 21,242,141 9%
Investments
Investments (Chandler) 149,723,383 149,723,383 66%
Restricted for Pension2 (PARS) 17,240,051 17,240,051 8%
Total Cash and Investments3 $230,020,633 $226,996,235 100%
1 Cash held by fiscal agent for bond repayments
2 In accordance with GASB 67/68, the assets in the Section 115 Pension Trust are reported as restricted cash
and investments in the General Fund. The assets can only be used to fund CalPERS costs.
3 Assets in the Section 115 OPEB Trust are excluded as the City cannot use these assets to fund its own
operations. The assets are held in trust for retirees' post-employment health benefits.
The table below shows the bank balances for the City's cash and investments. Bank and
General Ledger balances differ due to timing. Bank balances do not include outstanding
checks and deposits in transit. The General Ledger is updated quarterly with interest
earnings and annually with the year-end investment market values.
Cash and Investments – Bank Balance
Month Ending
January 31, 2023
Month Ending
February 28, 2023
% of
Portfolio
Cash in banks and on hand
Operating Checking (Wells Fargo) 42,673,289 39,316,220 17%
Workers' Compensation Checking (Wells Fargo) 25,873 42,812 0%
Payroll Checking (Wells Fargo) - - 0%
Restricted for Bond Repayments1 (BNY Mellon) - - 0%
Cash Equivalents
Local Agency Investment Fund 21,281,569 21,281,569 9%
Investments
Investments (Chandler) 148,742,480 147,258,241 65%
Restricted for Pension2 (PARS) 18,507,647 18,035,635 8%
Total Cash and Investments3 $231,230,858 $225,934,478 100%
1 Cash held by fiscal agent for bond repayments
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2 In accordance with GASB 67/68, the assets in the Section 115 Pension Trust are reported as restricted cash
and investments in the General Fund. The assets can only be used to fund CalPERS costs.
3 Assets in the Section 115 OPEB Trust are excluded as the City cannot use these assets to fund its own
operations. The assets are held in trust for retirees' post-employment health benefits.
Local Agency Investment Fund (LAIF)
LAIF is an investment pool administered by the State of California Treasurer and
governed by California Government Code. The City can withdraw funds from LAIF at
any time. As a result, the City uses LAIF for short-term investment, liquidity, and yield.
The City's LAIF account had a balance of $21.3 million. Interest is deposited quarterly.
The December interest rate was 2.07%.
Investment Portfolio
In FY 2018-19, the City conducted a Request for Proposal (RFP) for investment
management services and selected Chandler Asset Management. Under the City's
Treasurer's direction, Chandler Asset Management manages the City's investment
portfolio in accordance with the City's investment objectives. The City's investment
objectives, in order of priority, are to provide:
Safety to ensure the preservation of capital in the overall portfolio
Sufficient liquidity for cash needs
A market rate of return consistent with the investment program
The performance objective is to earn a total rate of return through a market cycle equal to
or above the return on the benchmark index. Chandler Asset Management invests in high-
quality fixed-income securities consistent with the City's Investment Policy and California
Government Code to achieve the objective.
The portfolio's market value was $147.3 million, compared to $148.7 million at the end of
the previous month. The table below includes historical comparisons of the City's
portfolio.
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December 31,
2022
January 31,
2023
February 28,
2023
Market Value 147,282,846 148,742,480 147,258,241
Par Value 156,155,965 156,310,484 156,479,011
Book Value 155,929,700 156,105,058 156,193,550
Average Maturity 2.62 years 2.66 years 2.71 years
Average Modified Duration 2.28 2.28 2.32
Average Purchase Yield 1.70% 1.73% 1.81%
Average Market Yield 4.63% 4.39% 4.89%
Average Quality1 AA/Aa1 AA/Aa1 AA/Aa1
1 S&P and Moody's respectively
The portfolio's market value fluctuates depending on interest rates. When interest rates
decrease after an investment is purchased, the market value of the investment increases.
In contrast, when interest rates increase after an investment is purchased, the market value
of the investment decreases. At the time of purchase, the City intends to hold all
investments until maturity, meaning that changes in market value will not impact the
City's investment principal. If the market value decreases, the City will incur an
unrealized loss. However, the loss will only be realized if the City sells its investments
before their maturity. The market values for the portfolio were provided by Chandler
Asset Management.
Section 115 Trust Investment Portfolio
The City established Section 115 Trusts to reduce pension rate volatility and pre -fund
Other Post-Employment Benefits (OPEB) costs. These trusts are a tax-exempt investment
tool that local governments can use to set aside funds for pension and retiree health costs.
Contributions made to the trust can only be used to fund retirement plans.
Investments in the Section 115 Trusts are governed by separate investment policies, which
are distinct from the City's Investment Policy. On December 6, 2022, City Council
approved the Pension Trust Investment Policy and OPEB Trust Investment Policy. Public
Agency Retirement Services (PARS) administers the trust, while US Bank manages the
investments in accordance with the approved investment policies.
Both Section 115 Trusts are invested in "balanced" portfolios. The investment objective is
designed to provide a moderate amount of current income with moderate growth of
capital. This type of investment strategy is generally recommended for investors with a
long-term time horizon. The strategic asset allocation ranges for this investment objective
are:
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Asset Class Range Target
Equities 50-70% 63%
Fixed Income 20-40% 29%
Real Estate 0-15% 5%
Commodities 0-10% 2%
Cash 0-10% 1%
The Section 115 Pension Trust had a balance of $18.0 million, a decrease of $0.5 million
from the prior month due to investment loss. The Section 115 OPEB Trust had a balance
of $32.8 million, a decrease of $0.9 million from the prior month due to investment loss.
The one-month investment returns were -2.52% for both the Pension Trust and OPEB
Trust.
Compliance
All of the City's investments comply with state law and the City's Investment Policy. In
compliance with California Government Code 53646 (b)(3), the City maintains the ability
to meet its expenditure requirements for the next six months.
Sustainability Impact
No sustainability impact.
Fiscal Impact
No fiscal impact.
California Environmental Quality Act
Not applicable.
_____________________________________
Prepared by: __________________
Thomas Leung
Budget Manager
Reviewed by: __________________
Kristina Alfaro
Director of Administrative Services
Approved for Submission by: __________________
Pamela Wu
City Manager
Attachments:
A – Chandler Investment Report February 2023
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B – Chandler Custodial Statement February 2023
C – PARS Pension and OPEB Account Statement February 2023
D – LAIF Account Statement February 2023
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CHANDLER ASSET MANAGEMENT, INC. | 800.317.4747 | www.chandlerasset.com
INVESTMENT REPORT
Period Ending February 28, 2023
City of Cupertino
182
SECTION 1 Economic Update
SECTION 2 Account Profile
SECTION 3 Portfolio Holdings
SECTION 4 Transactions
Table of Contents As of February 28, 2023
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SECTION |Section 1 |Economic Update
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Economic Update
Market volatility has been heightened by financial stress in the U.S.regional banking sector and the global banking system.
Both domestically and abroad,risks were addressed in an expeditious manner by government regulators,providing
liquidity and financial support to the banking system.The recent financial stress when combined with getting inflation
under control present a major challenge for the Federal Open Market Committee in determining the appropriate path for
monetary policy.Labor markets remain strong,and the U.S.consumer has demonstrated resiliency.However, recent
financial market stress has resulted in significant changes in market expectations for Fed policy and significantly lower rate
levels across the curve.
As expected at the February 1st meeting,the Federal Open Market Committee (FOMC)raised the fed funds target rate by
25 basis points to a range of 4.50 -4.75%,in a continuing downshift from previous hikes.The decision was unanimous and
the statement reflects inflation is easing “somewhat.”The sentiment was hawkish, indicating that the extent of “ongoing
increases”in the fed funds rate will be data dependent.We believe the FOMC will continue to implement tighter monetary
policy at a slower pace and hold rates at restrictive levels for some time until inflationary pressures subside and remain in
the Fed’s target range.
In February,the yield curve inversion widened.The 2-year Treasury yield surged 62 basis points to 4.82%,the 5-year
Treasury yield increased 57 basis points to 4.18%,and the 10-year Treasury yield rose 41 basis points to 3.92%.The inversion
between the 2-year Treasury yield and 10-year Treasury yield increased to -90 basis points at February month-end versus -
69 basis points at January month-end.The spread was a positive 39 basis points one year ago.The inversion between 3-
month and 10-year treasuries narrowed to -89 basis points in February from -115 basis points in January.The shape of the
yield curve indicates that the probability of recession is increasing.
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Source: US Department of Labor Source: US Department of Labor
Employment
The U.S.economy added 311,000 jobs in February,continuing to surpass market expectations of 225,000,on the heels of a very strong January
jobs report of 504,000 jobs.Trends in employment remain strong,with the three-month moving average payrolls at 351,000 and the six-month
moving average at 336,000.There were broad gains in employment,led by roles in the private sector with leisure and hospitality employment
growth remaining solid.The unemployment rate rose to 3.6%due to more workers entering the labor force as the participation rate increased
to 62.5%from 62.4%in January,the highest level since March 2020.The U-6 underemployment rate,which includes those who are marginally
attached to the labor force and employed part time for economic reasons,increased to 6.8%from the prior month at 6.6%.Average hourly
earnings rose 4.6%year-over-year in February from a 4.4%increase in January.Job Openings decreased to 10.8 million.Overall,the February
employment report demonstrates a strong demand for labor and supports the case for the Fed to continue raising the federal funds rate at a
slower pace.
0
100
200
300
400
500
600
700
800
900
1,000
M
O
M
C
h
a
n
g
e
I
n
(
0
0
0
'
s
)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3 month average (000's)0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Ra
t
e
(
%
)
4
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Source: US Department of Labor Source: US Department of Commerce
Inflation
The Consumer Price Index (CPI)increased in February 0.4%month-over-month and 6.0%year-over-year,down from 6.4%in January.The Core
CPI,which excludes volatile food and energy components,rose 0.5%month-over-month and 5.5%year-over-year,decelerating from 5.6%in
January.Shelter costs were the primary factor in the headline CPI representing 70%of the increase.Of note,used car prices experienced a
significant drop of 13.6%when compared to a year ago,the largest decline since 1960.The Personal Consumption Expenditures (PCE)index
accelerated more than expected in January,increasing 5.4%year-over-year versus an upwardly revised 5.3%year-over-year gain in December.
Core PCE increased 4.7%in January versus an upwardly revised 4.6%year-over-year gain in December.Inflationary trends are declining but
remain well above the Fed's 2% target.
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Core Deflator YOY % Change
YO
Y
(
%
)
C
h
a
n
g
e
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
Y
O
Y
(
%
)
C
h
a
n
g
e
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Federal Reserve
Source: Federal Reserve Source: Bloomberg
As expected at the February 1st meeting,the Federal Open Market Committee (FOMC)raised the fed funds target rate by 25 basis points to a
range of 4.50 –4.75%,in a continuing downshift from previous hikes.The decision was unanimous,and the statement reflects inflation easing
“somewhat”.The sentiment was hawkish, indicating that the extent of “ongoing increases”in the fed funds rate will be data dependent on
labor market conditions,inflation expectations,and financial and international developments.The December Summary of Economic
Projections indicated a peak median forecast of 5.1%in 2023 and no rate cuts until 2024;however,the market consensus diverged,implying
rate cuts in the second half of 2023.FOMC members forecasted a higher fed funds rate,slower GDP growth,higher inflation,and higher
unemployment in 2023 than in the September projections.We believe the FOMC will implement tighter monetary policy at a slower pace and
hold rates at restrictive levels until inflationary pressures subside and remain in the Fed’s target range for some time.
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%
Effective Federal Funds Rate
Yi
e
l
d
(
%
)
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
In
$
m
i
l
l
i
o
n
s
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Source: Bloomberg Source: Bloomberg
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Y
i
e
l
d
(
%
)
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
US Treasury Yield Curve
Feb-23
Nov-22
Feb-22
Y
i
e
l
d
(
%
)
Bond Yields
At the end of February,the 2-year Treasury yield was 339 basis points higher,and the 10-Year Treasury yield was about 210 basis points higher,
year-over-year.The inversion between the 2-year Treasury yield and 10-year Treasury yield increased to -90 basis points at February month-
end versus -69 basis points at January month-end. The average historical spread (since 2003) is about +130 basis points. The inversion between
3-month and 10-year treasuries narrowed to -89 basis points in February from -115 basis points in January.The shape of the yield curve
indicates that the probability of recession is increasing.
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Section 2|SECTION |Section 2 |Account Profile
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190
Objectives
Chandler Asset Management Performance Objective
The performance objective for the portfolio is to earn a total rate of return through a market cycle that is
equal to or above the return on the benchmark index.
Investment Objectives
The City of Cupertino’s investment objectives,in order of priority,are to provide safety to ensure the
preservation of capital in the overall portfolio,provide sufficient liquidity for cash needs and a market rate
of return consistent with the investment program.
Strategy
In order to achieve these objectives,the portfolio invests in high quality fixed incomes securities
consistent with the investment policy and California Government Code.
As of February 28, 2023
9
191
Compliance As of February 28, 2023
Category Standard Comment
Treasury Issues No Limitation Complies
Agency Issues 25% per Agency/GSE issuer; 20% max agency callable securities; Issued by Federal Agencies or U.S. Government Sponsored
Enterprise obligations.Complies
Supranational "AA" rating category or better by a NRSRO; 30% maximum; 10% max per issuer; USD denominated senior unsecured
unsubordinated obligations issued or unconditionally guaranteed by IBRD, IFC, or IADB.Complies
Municipal Securities
"A" rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Obligations of the City, State of California,
and any local agency within the State of California; Obligations of any of the other 49 states in addition to California,
including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by
a state or by a department, board, agency, or authority of any of the other 49 states in addition to California.
Complies
Corporate Medium Term Notes "A" rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Issued by corporations organized and
operating within the U.S. or by depository institutions licensed by the U.S. or any state and operating within the U.S.Complies
Asset Backed/ Mortgage Backed/
Collateralized Mortgage Obligation
"AA" rating category or better by a NRSRO; 20% maximum; 5% max per issuer on Asset-Backed or Commercial Mortgage
security; There is no issuer limitation on any Mortgage security where the issuer is the U.S. Treasury or a Federal
Agency/GSE .
Complies
Negotiable Certificates of Deposit (NCDs)
No rating required if amount of the NCD is insured up to the FDIC limit; If above FDIC insured limit, requires "A-1" short-
term rated or "A" long-term rating category or better by a NRSRO; 30% maximum; 5% max per issuer; Issued by nationally
or state chartered banks, state or federal savings associations, or state or federal credit unions, or by a federally licensed
or state-licensed branch of a foreign bank.
Complies
Certificates of Deposit (CDs)/Time
Deposit (TDs)
30% maximum; 5% max per issuer; Certificates of Deposit, Time Deposit, non-negotiable, and collateralized in
accordance with California Government Code.Complies
Banker’s Acceptances "A-1" short-term rated or better by a NRSRO; or "A" long-term rating category or better by a NRSRO; 40% maximum; 5%
max per issuer; 180 days max maturity Complies
Commercial Paper
"A-1" short term rated or better a NRSRO; "A" long-term issuer rating category or better by a NRSRO; 25% maximum; 5%
max per issuer; 270 days max maturity; Issued by corporations organized and operating in the U.S. with assets > $500
million; 10% max outstanding paper of the issuing corporation.
Complies
Money Market Funds
20% maximum; Daily money market funds administered for or by trustees, paying agents and custodian banks contracted
by a City of Cupertino as allowed under California Government Code; Only funds holding U.S. Treasury obligations,
Government agency obligations or repurchase agreements collateralized by U.S. Treasury or Government agency
obligations can be utilized.
Complies
Local Agency Investment Fund (LAIF) Maximum amount permitted by LAIF; Not used by investment adviser Complies
City of Cupertino
Assets managed by Chandler Asset Management are in full compliance with state law and with the City's investment policy.
10
192
Compliance As of February 28, 2023
Category Standard Comment
Repurchase Agreements 1 year max maturity; 102% collateralized; A PSA Master Repurchase Agreement is required between City of Cupertino
and the broke/dealer or financial institution for all repurchase agreements; Not used by investment adviser Complies
Prohibited Securities
Reverse Repurchase Agreement; Common stocks; Long-term (> 5 years maturity) notes and bonds; Special circumstances
arise that necessitate purchase of securities beyond the 5-year limitation. On such occasions, request must be approved
by City Council prior to purchase; Futures/Options; Inverse floaters; Ranges notes, Mortgage-derived, Interest-only strips;
Zero interest accrual securities; Purchasing/selling securities on margin; Foreign currency denominated securities.
Complies
Minimum Budgeted Operating
Expenditures in Short Term Investments
Minimum 6 months of budgeted operating expenditures in short term investments to provide sufficient liquidity for
expected disbursements Complies
Max Per Issuer 5% per issuer, unless otherwise specified in the policy Complies
Maximum maturity 5 years Complies
City of Cupertino
Assets managed by Chandler Asset Management are in full compliance with state law and with the City's investment policy.
11
193
Portfolio Summary –City of Cupertino #10659 As of February 28, 2023
12
194
Purchase Yield as of 02/28/23 = 1.81%
0.00
0.50
1.00
1.50
2.00
2.50
Pe
r
c
e
n
t
(
%
)
Historical Average Purchase Yield
City of Cupertino
As of February 28, 2023
13
195
SECTION |Section 3 |Portfolio Holdings
14
196
Issue Name Investment Type % Portfolio
Government of United States US Treasury 33.78%
Federal National Mortgage Association Agency 8.84%
Federal Home Loan Mortgage Corp Agency 4.36%
Federal Home Loan Mortgage Corp CMO 3.85%
Inter-American Dev Bank Supranational 3.33%
Federal Home Loan Bank Agency 2.33%
American Express ABS ABS 1.89%
John Deere ABS ABS 1.89%
Hyundai Auto Receivables ABS 1.79%
Royal Bank of Canada Corporate 1.68%
Toyota Motor Corp Corporate 1.61%
Bank of New York Corporate 1.57%
Bank of America Corp Corporate 1.56%
JP Morgan Chase & Co Corporate 1.55%
International Finance Corp Supranational 1.54%
Intl Bank Recon and Development Supranational 1.47%
Toronto Dominion Holdings Corporate 1.44%
Northwestern Mutual Glbl Corporate 1.29%
GM Financial Automobile Leasing Trust ABS 1.26%
Paccar Financial Corporate 1.25%
Bank of Montreal Chicago Corporate 1.17%
Amazon.com Inc Corporate 1.13%
Metlife Inc Corporate 1.13%
Salesforce.com Inc Corporate 1.12%
Air Products & Chemicals Corporate 1.11%
Prudential Financial Inc Corporate 1.11%
Honda ABS ABS 1.07%
United Health Group Inc Corporate 1.07%
New York Life Global Funding Corporate 1.07%
Toyota Lease Owner Trust ABS 1.03%
Berkshire Hathaway Corporate 1.03%
Guardian Life Global Funding Corporate 0.84%
US Bancorp Corporate 0.82%
Toyota ABS ABS 0.82%
Hyundai Auto Lease Securitization ABS 0.78%
Caterpillar Inc Corporate 0.72%
GM Financial Securitized Term Auto Trust ABS 0.67%
Deere & Company Corporate 0.67%
Issuers
City of Cupertino –Account #10659
As of February 28, 2023
15
197
Issue Name Investment Type % Portfolio
Mass Mutual Insurance Corporate 0.60%
Charles Schwab Corp/The Corporate 0.60%
BMW Vehicle Lease Trust ABS 0.52%
State of California Municipal Bonds 0.50%
Northern Trust Corp Corporate 0.45%
Morgan Stanley Corporate 0.41%
Verizon Master Trust ABS 0.38%
BMW ABS ABS 0.35%
Verizon Owner Trust ABS 0.21%
Wal-Mart Stores Corporate 0.21%
Wells Fargo 100% Treasury MMKT Fund Money Market Fund 0.11%
Nissan ABS ABS 0.05%
TOTAL 100.00%
Issuers
City of Cupertino –Account #10659
As of February 28, 2023
16
198
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
ABS
89238EAC0 Toyota Lease Owner Trust 2021-A A3
0.390% Due 04/22/2024
406,975.24 03/23/2022
2.16%
398,835.73
403,937.89
98.94
3.93%
402,660.90
48.50
0.27%
(1,276.99)
Aaa / AAA
NR
1.15
0.30
44891VAC5 Hyundai Auto Lease Trust 2021-B A3
0.330% Due 06/17/2024
626,456.51 06/08/2021
0.34%
626,362.54
626,433.85
98.83
4.42%
619,144.01
91.88
0.42%
(7,289.84)
Aaa / AAA
NR
1.30
0.28
65479JAD5 Nissan Auto Receivables Owner 2019-C A3
1.930% Due 07/15/2024
74,774.12 Various
1.70%
75,145.07
74,894.73
99.79
2.25%
74,618.15
64.14
0.05%
(276.58)
Aaa / AAA
NR
1.38
0.70
43813DAC2 Honda Auto Receivables 2020-2 A3
0.820% Due 07/15/2024
41,317.49 05/18/2020
0.83%
41,314.24
41,316.41
98.88
2.43%
40,855.61
15.06
0.03%
(460.80)
Aaa / AAA
NR
1.38
0.70
47789KAC7 John Deere Owner Trust 2020-A A3
1.100% Due 08/15/2024
37,608.01 03/04/2020
1.11%
37,605.71
37,607.25
99.35
1.99%
37,361.82
18.39
0.03%
(245.43)
Aaa / NR
AAA
1.46
0.74
43813KAC6 Honda Auto Receivables Trust 2020-3 A3
0.370% Due 10/18/2024
232,437.33 09/22/2020
0.38%
232,403.18
232,429.52
98.05
5.60%
227,915.10
31.06
0.15%
(4,514.42)
NR / AAA
AAA
1.64
0.37
36262XAC8 GM Financial Auto Lease Trust 2021-3 A2
0.390% Due 10/21/2024
954,985.74 08/10/2021
0.39%
954,972.76
954,980.97
97.72
5.36%
933,241.38
113.80
0.63%
(21,739.59)
NR / AAA
AAA
1.65
0.46
47787NAC3 John Deere Owner Trust 2020-B A3
0.510% Due 11/15/2024
70,156.18 07/14/2020
0.52%
70,145.48
70,153.49
98.65
3.51%
69,211.37
15.90
0.05%
(942.12)
Aaa / NR
AAA
1.72
0.45
09690AAC7 BMW Vehicle Lease Trust 2021-2 A3
0.330% Due 12/26/2024
339,486.60 09/08/2021
0.34%
339,451.56
339,473.99
98.02
4.91%
332,762.93
18.67
0.23%
(6,711.06)
Aaa / NR
AAA
1.83
0.43
89236XAC0 Toyota Auto Receivables 2020-D A3
0.350% Due 01/15/2025
172,260.09 10/06/2020
0.36%
172,228.00
172,245.93
98.32
2.17%
169,358.58
26.80
0.12%
(2,887.35)
NR / AAA
AAA
1.88
0.93
44891WAC3 Hyundai Auto Lease Trust 2022-A A3
1.160% Due 01/15/2025
540,000.00 01/11/2022
1.16%
539,988.07
539,994.00
96.96
5.15%
523,607.60
278.40
0.36%
(16,386.40)
Aaa / AAA
NR
1.88
0.77
92290BAA9 Verizon Owner Trust 2020-B A
0.470% Due 02/20/2025
317,826.06 08/04/2020
0.48%
317,759.31
317,796.90
98.82
1.65%
314,078.86
45.64
0.21%
(3,718.04)
Aaa / NR
AAA
1.98
1.00
89238LAC4 Toyota Lease Owner Trust 2022-A A3
1.960% Due 02/20/2025
1,150,000.00 02/23/2022
1.98%
1,149,818.99
1,149,897.58
96.76
5.32%
1,112,757.48
688.72
0.76%
(37,140.10)
NR / AAA
AAA
1.98
0.98
36265MAC9 GM Financial Auto Lease Trust 2022-1 A3
1.900% Due 03/20/2025
945,000.00 02/15/2022
1.91%
944,991.87
944,995.70
97.00
5.61%
916,620.04
548.63
0.62%
(28,375.66)
Aaa / NR
AAA
2.06
0.82
05601XAC3 BMW Vehicle Lease Trust 2022-1 A3
1.100% Due 03/25/2025
450,000.00 01/11/2022
1.11%
449,932.73
449,967.04
97.26
5.43%
437,683.55
82.50
0.30%
(12,283.49)
NR / AAA
AAA
2.07
0.63
43813GAC5 Honda Auto Receivables Trust 2021-1 A3
0.270% Due 04/21/2025
176,319.93 02/17/2021
0.27%
176,316.71
176,318.82
97.13
5.59%
171,260.20
13.22
0.12%
(5,058.62)
Aaa / NR
AAA
2.15
0.54
89240BAC2 Toyota Auto Receivables Owners 2021-A A3
0.260% Due 05/15/2025
641,680.32 02/02/2021
0.27%
641,561.23
641,640.31
97.26
5.48%
624,126.90
74.15
0.42%
(17,513.41)
Aaa / NR
AAA
2.21
0.52
As of February 28, 2023
17
199
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
44933LAC7 Hyundai Auto Receivables Trust 2021-A A3
0.380% Due 09/15/2025
421,138.95 04/20/2021
0.38%
421,094.64
421,121.39
97.07
5.23%
408,819.67
71.13
0.28%
(12,301.72)
NR / AAA
AAA
2.55
0.60
43815GAC3 Honda Auto Receivables Trust 2021-4 A3
0.880% Due 01/21/2026
460,000.00 11/16/2021
0.89%
459,903.03
459,940.84
94.96
5.72%
436,823.77
112.44
0.30%
(23,117.07)
Aaa / NR
AAA
2.90
1.05
47789QAC4 John Deere Owner Trust 2021-B A3
0.520% Due 03/16/2026
580,000.00 07/13/2021
0.52%
579,948.26
579,971.08
95.40
4.80%
553,314.14
134.04
0.38%
(26,656.94)
Aaa / NR
AAA
3.05
1.08
89238JAC9 Toyota Auto Receivables Trust 2021-D A3
0.710% Due 04/15/2026
430,000.00 11/09/2021
0.71%
429,990.84
429,994.47
94.64
5.93%
406,968.21
135.69
0.28%
(23,026.26)
NR / AAA
AAA
3.13
1.04
43815BAC4 Honda Auto Receivables Trust 2022-1 A3
1.880% Due 05/15/2026
740,000.00 02/15/2022
1.89%
739,888.70
739,923.78
95.27
5.41%
705,003.55
618.31
0.48%
(34,920.23)
Aaa / AAA
NR
3.21
1.36
44935FAD6 Hyundai Auto Receivables Trust 2021-C A3
0.740% Due 05/15/2026
1,330,000.00 Various
2.03%
1,296,371.65
1,307,608.17
94.95
5.65%
1,262,867.32
437.42
0.86%
(44,740.85)
NR / AAA
AAA
3.21
1.04
05602RAD3 BMW Vehicle Owner Trust 2022-A A3
3.210% Due 08/25/2026
530,000.00 05/10/2022
3.23%
529,972.44
529,979.42
97.17
5.94%
515,002.96
283.55
0.35%
(14,976.46)
Aaa / AAA
NR
3.49
1.06
362554AC1 GM Financial Securitized Term 2021-4 A3
0.680% Due 09/16/2026
350,000.00 10/13/2021
0.68%
349,991.08
349,994.64
94.62
5.36%
331,154.57
99.17
0.22%
(18,840.07)
Aaa / AAA
NR
3.55
1.16
47787JAC2 John Deere Owner Trust 2022-A A3
2.320% Due 09/16/2026
450,000.00 03/10/2022
2.34%
449,900.46
449,927.70
95.63
5.28%
430,314.89
464.00
0.29%
(19,612.81)
Aaa / NR
AAA
3.55
1.51
448977AD0 Hyundai Auto Receivables Trust 2022-A A3
2.220% Due 10/15/2026
1,010,000.00 03/09/2022
2.23%
1,009,961.12
1,009,972.58
95.51
5.41%
964,687.06
996.53
0.66%
(45,285.52)
NR / AAA
AAA
3.63
1.43
380146AC4 GM Financial Auto Receivables 2022-1 A3
1.260% Due 11/16/2026
295,000.00 01/11/2022
1.27%
294,974.36
294,982.94
94.99
5.07%
280,206.93
154.88
0.19%
(14,776.01)
NR / AAA
AAA
3.72
1.33
362585AC5 GM Financial Securitized ART 2022-2 A3
3.100% Due 02/16/2027
390,000.00 04/05/2022
3.13%
389,918.49
389,939.45
96.65
5.27%
376,936.87
503.75
0.26%
(13,002.58)
Aaa / AAA
NR
3.97
1.58
47800AAC4 John Deere Owner Trust 2022-B A3
3.740% Due 02/16/2027
655,000.00 07/12/2022
3.77%
654,937.45
654,948.18
96.74
5.54%
633,664.88
1,088.76
0.43%
(21,283.30)
Aaa / NR
AAA
3.97
1.87
02589BAA8 American Express Credit Accoun 22-1 A
2.210% Due 03/15/2027
1,545,000.00 03/21/2022
2.69%
1,524,359.77
1,530,866.75
94.27
5.23%
1,456,537.47
1,517.53
0.99%
(74,329.28)
Aaa / NR
AAA
4.04
1.94
02582JJT8 American Express Credit Trust 2022-2 A
3.390% Due 05/17/2027
1,375,000.00 05/17/2022
3.42%
1,374,695.85
1,374,774.48
96.42
5.17%
1,325,798.79
2,071.67
0.90%
(48,975.69)
NR / AAA
AAA
4.22
2.07
47800BAC2 John Deere Owner Trust 2022-C A3
5.090% Due 06/15/2027
1,050,000.00 10/12/2022
5.15%
1,049,918.52
1,049,926.64
99.92
5.20%
1,049,123.15
2,375.33
0.71%
(803.49)
Aaa / NR
AAA
4.30
2.14
As of February 28, 2023
18
200
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
92348KAV5 Verizon Master Trust 2022-5 A1A
3.720% Due 07/20/2027
570,000.00 08/02/2022
3.75%
569,974.92
569,979.92
98.63
5.39%
562,182.74
647.90
0.38%
(7,797.18)
NR / AAA
AAA
4.39
0.85
TOTAL ABS 19,358,422.57 1.99%
19,294,634.76
19,317,936.81 5.19%
18,706,671.45
13,887.56
12.71%
(611,265.36)
Aaa / AAA
AAA
2.99
1.17
Agency
3137EAFA2 FHLMC Note
0.250% Due 12/04/2023
855,000.00 12/02/2020
0.28%
854,153.55
854,785.10
96.21
5.35%
822,634.83
516.56
0.56%
(32,150.27)
Aaa / AA+
AAA
0.76
0.75
3130A1XJ2 FHLB Note
2.875% Due 06/14/2024
1,500,000.00 06/18/2019
1.96%
1,564,890.20
1,516,774.58
97.02
5.28%
1,455,292.51
9,223.96
0.99%
(61,482.07)
Aaa / AA+
NR
1.29
1.24
3135G0V75 FNMA Note
1.750% Due 07/02/2024
1,500,000.00 07/16/2019
1.96%
1,484,895.00
1,495,923.65
95.66
5.13%
1,434,859.50
4,302.08
0.98%
(61,064.15)
Aaa / AA+
AAA
1.34
1.30
3130A2UW4 FHLB Note
2.875% Due 09/13/2024
2,000,000.00 09/13/2019
1.79%
2,103,380.00
2,031,852.83
96.81
5.05%
1,936,246.00
26,833.33
1.33%
(95,606.83)
Aaa / AA+
AAA
1.54
1.46
3135G0W66 FNMA Note
1.625% Due 10/15/2024
1,975,000.00 Various
1.73%
1,965,802.75
1,971,923.64
94.79
4.99%
1,872,114.35
12,124.31
1.28%
(99,809.29)
Aaa / AA+
AAA
1.63
1.57
3135G0X24 FNMA Note
1.625% Due 01/07/2025
1,295,000.00 Various
1.38%
1,309,953.95
1,300,764.46
94.30
4.87%
1,221,152.63
3,156.56
0.83%
(79,611.83)
Aaa / AA+
AAA
1.86
1.79
3137EAEP0 FHLMC Note
1.500% Due 02/12/2025
2,365,000.00 02/13/2020
1.52%
2,363,178.95
2,364,287.55
93.87
4.82%
2,220,098.82
1,872.29
1.51%
(144,188.73)
Aaa / AA+
AAA
1.96
1.89
3135G03U5 FNMA Note
0.625% Due 04/22/2025
1,860,000.00 04/22/2020
0.67%
1,856,168.40
1,858,355.18
91.57
4.80%
1,703,231.76
4,165.63
1.16%
(155,123.42)
Aaa / AA+
AAA
2.15
2.08
3135G04Z3 FNMA Note
0.500% Due 06/17/2025
2,500,000.00 Various
0.50%
2,499,227.30
2,499,741.69
90.88
4.73%
2,272,017.50
2,569.44
1.54%
(227,724.19)
Aaa / AA+
AAA
2.30
2.24
3137EAEU9 FHLMC Note
0.375% Due 07/21/2025
1,250,000.00 07/21/2020
0.48%
1,243,775.00
1,247,020.60
90.26
4.72%
1,128,281.25
520.83
0.77%
(118,739.35)
Aaa / AA+
AAA
2.39
2.33
3135G05X7 FNMA Note
0.375% Due 08/25/2025
2,500,000.00 Various
0.48%
2,487,983.75
2,493,845.83
89.92
4.71%
2,247,967.51
156.25
1.53%
(245,878.32)
Aaa / AA+
AAA
2.49
2.42
3137EAEX3 FHLMC Note
0.375% Due 09/23/2025
2,500,000.00 Various
0.46%
2,489,362.80
2,494,421.27
89.87
4.60%
2,246,767.50
4,114.58
1.53%
(247,653.77)
Aaa / AA+
AAA
2.57
2.50
3135G06G3 FNMA Note
0.500% Due 11/07/2025
2,500,000.00 Various
0.56%
2,492,700.00
2,496,062.23
89.65
4.63%
2,241,360.00
3,958.33
1.52%
(254,702.23)
Aaa / AA+
AAA
2.69
2.61
TOTAL Agency 24,600,000.00 1.03%
24,715,471.65
24,625,758.61 4.86%
22,802,024.16
73,514.15
15.53%
(1,823,734.45)
Aaa / AA+
AAA
2.02
1.95
As of February 28, 2023
19
201
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
CMO
3137BFE98 FHLMC K041 A2
3.171% Due 10/25/2024
1,300,000.00 07/01/2021
0.72%
1,398,414.06
1,348,291.16
96.94
5.15%
1,260,182.30
3,435.25
0.86%
(88,108.86)
Aaa / AAA
AAA
1.66
1.47
3137BLMZ8 FHLMC K049 A2
3.010% Due 07/25/2025
1,000,000.00 07/01/2021
0.87%
1,079,687.50
1,046,717.14
95.70
4.97%
957,049.33
2,508.33
0.65%
(89,667.81)
NR / NR
AAA
2.41
2.15
3137BLW95 FHLMC K050 A2
3.334% Due 08/25/2025
950,000.00 11/16/2021
1.17%
1,018,132.81
994,581.35
96.22
5.01%
914,070.88
2,639.42
0.62%
(80,510.47)
NR / NR
AAA
2.49
2.19
3137BM7C4 FHLMC K051 A2
3.308% Due 09/25/2025
440,000.00 03/15/2022
2.21%
453,079.69
449,475.78
96.09
4.98%
422,804.01
1,212.93
0.29%
(26,671.77)
NR / NR
AAA
2.58
2.27
3137BN6G4 FHLMC KO53
2.995% Due 12/25/2025
570,000.00 03/15/2022
2.29%
582,001.17
578,970.40
95.16
4.92%
542,428.19
1,422.63
0.37%
(36,542.21)
NR / NR
AAA
2.82
2.49
3137BSP72 FHLMC K058 A2
2.653% Due 08/25/2026
650,000.00 11/12/2021
1.35%
687,451.17
677,227.31
93.30
4.76%
606,468.98
1,437.04
0.41%
(70,758.33)
NR / NR
AAA
3.49
3.20
3137FBBX3 FHLMC K068 A2
3.244% Due 08/25/2027
1,000,000.00 09/28/2022
4.41%
950,664.06
954,833.69
94.51
4.62%
945,054.90
2,703.33
0.64%
(9,778.79)
Aaa / NR
NR
4.49
4.01
TOTAL CMO 5,910,000.00 1.73%
6,169,430.46
6,050,096.83 4.93%
5,648,058.59
15,358.93
3.85%
(402,038.24)
Aaa / AAA
AAA
2.77
2.47
Corporate
24422EVN6 John Deere Capital Corp Note
0.450% Due 01/17/2024
1,030,000.00 03/01/2021
0.47%
1,029,268.70
1,029,775.52
95.90
5.24%
987,776.18
566.50
0.67%
(41,999.34)
A2 / A
A+
0.88
0.86
89114QCA4 Toronto Dominion Bank Note
2.650% Due 06/12/2024
1,500,000.00 09/11/2019
2.24%
1,527,255.00
1,507,371.74
96.69
5.34%
1,450,329.00
8,722.92
0.99%
(57,042.74)
A1 / A
AA-
1.29
1.24
06367TQW3 Bank of Montreal Note
0.625% Due 07/09/2024
600,000.00 02/09/2022
1.89%
582,216.00
589,964.89
93.85
5.36%
563,084.40
541.67
0.38%
(26,880.49)
A2 / A-
AA-
1.36
1.32
79466LAG9 Salesforce.com Inc Callable Note Cont 7/15/2022
0.625% Due 07/15/2024
1,760,000.00 Various
0.87%
1,748,937.40
1,754,200.04
93.98
5.20%
1,654,083.20
1,405.56
1.12%
(100,116.84)
A2 / A+
NR
1.38
1.34
78013XZU5 Royal Bank of Canada Note
2.550% Due 07/16/2024
1,500,000.00 Various
1.98%
1,533,359.18
1,511,166.60
96.30
5.36%
1,444,500.00
4,781.26
0.98%
(66,666.60)
A1 / A
AA-
1.38
1.33
91159HHX1 US Bancorp Callable Note Cont 6/28/2024
2.400% Due 07/30/2024
1,250,000.00 10/10/2019
2.07%
1,268,262.50
1,255,155.60
96.05
5.32%
1,200,651.25
2,583.33
0.82%
(54,504.35)
A2 / A+
A+
1.42
1.37
009158AV8 Air Products & Chemicals Callable Note Cont 4/30/2024
3.350% Due 07/31/2024
1,675,000.00 08/07/2019
2.07%
1,771,212.00
1,698,746.41
97.48
5.22%
1,632,781.63
4,831.91
1.11%
(65,964.78)
A2 / A
NR
1.42
1.36
As of February 28, 2023
20
202
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
69371RR40 Paccar Financial Corp Note
0.500% Due 08/09/2024
680,000.00 08/03/2021
0.52%
679,632.80
679,823.44
93.35
5.33%
634,788.84
207.78
0.43%
(45,034.60)
A1 / A+
NR
1.45
1.41
69371RQ25 Paccar Financial Corp Note
2.150% Due 08/15/2024
370,000.00 08/08/2019
2.20%
369,182.30
369,761.45
95.66
5.27%
353,959.02
353.56
0.24%
(15,802.43)
A1 / A+
NR
1.46
1.41
14913Q3B3 Caterpillar Finl Service Note
2.150% Due 11/08/2024
1,100,000.00 01/28/2020
1.92%
1,111,517.00
1,104,081.14
95.34
5.05%
1,048,757.60
7,423.47
0.72%
(55,323.54)
A2 / A
A
1.70
1.62
74153WCQ0 Pricoa Global Funding Note
1.150% Due 12/06/2024
885,000.00 12/01/2021
1.19%
884,088.45
884,461.74
92.71
5.52%
820,483.50
2,403.02
0.56%
(63,978.24)
Aa3 / AA-
AA-
1.77
1.71
89114TZL9 Toronto-Dominion Bank Note
1.450% Due 01/10/2025
700,000.00 03/15/2022
2.79%
674,737.00
683,296.99
93.35
5.24%
653,435.30
1,437.92
0.44%
(29,861.69)
A1 / A
NR
1.87
1.80
89236TJT3 Toyota Motor Credit Corp Note
1.450% Due 01/13/2025
1,215,000.00 01/10/2022
1.50%
1,213,371.90
1,213,983.92
93.60
5.07%
1,137,224.20
2,349.00
0.77%
(76,759.72)
A1 / A+
A+
1.88
1.81
64952WEK5 New York Life Global Note
1.450% Due 01/14/2025
1,680,000.00 01/11/2022
1.49%
1,678,185.60
1,678,866.00
93.19
5.31%
1,565,555.04
3,180.33
1.07%
(113,310.96)
Aaa / AA+
AAA
1.88
1.81
69371RR73 Paccar Financial Corp Note
2.850% Due 04/07/2025
885,000.00 03/31/2022
2.86%
884,769.90
884,838.76
95.48
5.14%
845,037.83
10,089.00
0.58%
(39,800.93)
A1 / A+
NR
2.11
1.99
78016EZ59 Royal Bank of Canada Note
3.375% Due 04/14/2025
1,050,000.00 04/07/2022
3.39%
1,049,611.50
1,049,725.29
96.19
5.29%
1,010,017.05
13,485.94
0.70%
(39,708.24)
A1 / A
AA-
2.13
1.99
06406RBC0 Bank of NY Mellon Corp Callable Note Cont 3/25/2025
3.350% Due 04/25/2025
1,370,000.00 04/19/2022
3.35%
1,369,808.20
1,369,862.32
96.23
5.22%
1,318,318.12
16,063.25
0.91%
(51,544.20)
A1 / A
AA-
2.16
2.02
06367WB85 Bank of Montreal Note
1.850% Due 05/01/2025
1,240,000.00 07/23/2021
0.85%
1,285,656.80
1,266,317.46
92.79
5.41%
1,150,558.80
7,646.67
0.79%
(115,758.66)
A2 / A-
AA-
2.17
2.07
46647PCH7 JP Morgan Chase & Co Callable Note Cont 6/1/2024
0.824% Due 06/01/2025
1,370,000.00 05/24/2021
0.78%
1,371,773.90
1,370,741.28
93.81
5.66%
1,285,227.14
2,822.20
0.87%
(85,514.14)
A1 / A-
AA-
2.26
2.15
46647PCK0 JP Morgan Chase & Co Callable Note Cont 6/23/2024
0.969% Due 06/23/2025
655,000.00 Various
0.95%
655,406.85
655,178.35
93.84
5.62%
614,672.96
1,198.87
0.42%
(40,505.39)
A1 / A-
AA-
2.32
2.21
66815L2J7 Northwestern Mutual Glbl Note
4.000% Due 07/01/2025
1,170,000.00 06/27/2022
4.01%
1,169,602.20
1,169,690.40
97.24
5.27%
1,137,669.39
7,800.00
0.78%
(32,021.01)
Aaa / AA+
AAA
2.34
2.19
74153WCM9 Pricoa Global Funding Note
0.800% Due 09/01/2025
904,000.00 04/06/2022
3.26%
832,972.72
851,673.14
89.42
5.36%
808,374.88
3,616.00
0.55%
(43,298.26)
Aa3 / AA-
AA-
2.51
2.41
06406HCQ0 Bank of New York Callable Note Cont 10/18/2025
3.950% Due 11/18/2025
1,000,000.00 04/05/2022
3.20%
1,024,910.00
1,018,576.29
96.94
5.17%
969,359.00
11,301.39
0.67%
(49,217.29)
A1 / A
AA-
2.72
2.51
As of February 28, 2023
21
203
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
40139LBC6 Guardian Life Glob Fun Note
0.875% Due 12/10/2025
1,400,000.00 Various
1.12%
1,385,860.00
1,390,602.77
88.15
5.53%
1,234,122.40
2,756.26
0.84%
(156,480.37)
Aa1 / AA+
NR
2.78
2.67
66815L2A6 Northwestern Mutual Glbl Note
0.800% Due 01/14/2026
850,000.00 12/06/2021
1.47%
827,449.50
834,193.57
88.66
5.09%
753,601.50
887.78
0.51%
(80,592.07)
Aaa / AA+
AAA
2.88
2.77
06051GHY8 Bank of America Corp Callable Note Cont 2/13/2025
2.015% Due 02/13/2026
600,000.00 05/24/2021
1.05%
620,988.00
611,042.25
93.04
5.80%
558,239.40
604.50
0.38%
(52,802.85)
A2 / A-
AA-
2.96
2.78
46647PBK1 JP Morgan Chase & Co Callable Note Cont 4/22/2025
2.083% Due 04/22/2026
401,000.00 05/20/2021
1.11%
415,969.33
409,202.23
92.86
5.67%
372,359.78
2,993.10
0.25%
(36,842.45)
A1 / A-
AA-
3.15
2.03
6174468Q5 Morgan Stanley Callable Note Cont 4/28/2025
2.188% Due 04/28/2026
650,000.00 05/23/2022
4.74%
615,699.50
622,396.95
93.21
5.57%
605,840.30
4,859.18
0.41%
(16,556.65)
A1 / A-
A+
3.16
2.05
023135BX3 Amazon.com Inc Callable Note Cont 4/12/2026
1.000% Due 05/12/2026
1,875,000.00 05/10/2021
1.09%
1,866,900.00
1,869,818.84
88.53
4.91%
1,660,010.63
5,677.08
1.13%
(209,808.21)
A1 / AA
AA-
3.20
3.07
91324PEC2 United Health Group Inc Callable Note Cont 4/15/2026
1.150% Due 05/15/2026
1,035,000.00 Various
1.37%
1,025,051.35
1,027,755.92
88.66
5.01%
917,615.48
3,504.62
0.63%
(110,140.44)
A3 / A+
A
3.21
3.07
89236TJK2 Toyota Motor Credit Corp Note
1.125% Due 06/18/2026
1,385,000.00 06/15/2021
1.13%
1,384,390.60
1,384,597.85
88.29
5.01%
1,222,768.03
3,159.53
0.83%
(161,829.82)
A1 / A+
A+
3.30
3.16
06051GJD2 Bank of America Corp Callable Note Cont 6/19/2025
1.319% Due 06/19/2026
700,000.00 07/16/2021
1.27%
701,274.00
700,749.25
90.71
5.68%
634,956.00
1,846.60
0.43%
(65,793.25)
A2 / A-
AA-
3.31
2.21
57629WDE7 Mass Mutual Global funding Note
1.200% Due 07/16/2026
1,000,000.00 08/19/2021
1.15%
1,002,230.00
1,001,537.80
88.12
5.07%
881,165.00
1,500.00
0.60%
(120,372.80)
Aa3 / AA+
AA+
3.38
3.23
58989V2D5 Met Tower Global Funding Note
1.250% Due 09/14/2026
770,000.00 09/07/2021
1.27%
769,291.60
769,498.38
86.95
5.34%
669,540.41
4,464.93
0.46%
(99,957.97)
Aa3 / AA-
AA-
3.55
3.36
931142ER0 Wal-Mart Stores Callable Note Cont 08/17/2026
1.050% Due 09/17/2026
350,000.00 09/08/2021
1.09%
349,338.50
349,530.50
87.83
4.82%
307,419.35
1,674.17
0.21%
(42,111.15)
Aa2 / AA
AA
3.55
3.39
59217GER6 Metlife Note
1.875% Due 01/11/2027
1,115,000.00 01/03/2022
1.90%
1,113,728.90
1,114,017.09
88.42
5.22%
985,855.13
2,903.65
0.67%
(128,161.96)
Aa3 / AA-
AA-
3.87
3.64
808513BY0 Charles Schwab Corp Callable Note Cont 2/3/2027
2.450% Due 03/03/2027
960,000.00 03/01/2022
2.46%
959,729.90
959,782.59
90.69
5.04%
870,664.32
11,629.33
0.60%
(89,118.27)
A2 / A
A
4.01
3.69
084664CZ2 Berkshire Hathaway Callable Note Cont 2/15/2027
2.300% Due 03/15/2027
1,615,000.00 03/07/2022
2.30%
1,614,693.15
1,614,752.13
92.43
4.36%
1,492,763.88
17,127.97
1.03%
(121,988.25)
Aa2 / AA
A+
4.04
3.75
As of February 28, 2023
22
204
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
06051GHT9 Bank of America Corp Callable Note 1X 4/23/2026
3.559% Due 04/23/2027
1,150,000.00 Various
4.80%
1,114,222.54
1,118,510.86
93.98
5.68%
1,080,735.50
14,552.35
0.74%
(37,775.36)
A2 / A-
AA-
4.15
2.88
665859AW4 Northern Trust Company Callable Note Cont 4/10/2027
4.000% Due 05/10/2027
670,000.00 05/05/2022
4.04%
668,914.60
669,089.95
96.86
4.83%
648,986.79
8,263.33
0.45%
(20,103.16)
A2 / A+
A+
4.20
3.76
91324PEG3 United Health Group Inc Callable Note Cont 4/15/2027
3.700% Due 05/15/2027
675,000.00 05/17/2022
3.69%
675,316.70
675,267.14
95.39
4.92%
643,872.38
7,353.76
0.44%
(31,394.76)
A3 / A+
A
4.21
3.80
TOTAL Corporate 42,790,000.00 1.97%
42,826,786.07
42,719,604.84 5.23%
39,827,160.61
210,569.69
27.19%
(2,892,444.23)
A1 / A+
AA-
2.47
2.27
Money Market Fund
94975H270 Wells Fargo 100% Treasury Money Mkt Fund 155,588.22 Various
4.06%
155,588.22
155,588.22
1.00
4.06%
155,588.22
0.00
0.11%
0.00
Aaa / AAA
NR
0.00
0.00
TOTAL Money Market Fund 155,588.22 4.06%
155,588.22
155,588.22 4.06%
155,588.22
0.00
0.11%
0.00
Aaa / AAA
NR
0.00
0.00
Municipal Bonds
13063DRK6 California State Taxable GO
2.400% Due 10/01/2024
755,000.00 10/16/2019
1.91%
772,342.35
760,575.70
96.22
4.90%
726,453.45
7,550.00
0.50%
(34,122.25)
Aa2 / AA-
AA
1.59
1.52
TOTAL Municipal Bonds 755,000.00 1.91%
772,342.35
760,575.70 4.90%
726,453.45
7,550.00
0.50%
(34,122.25)
Aa2 / AA-
AA
1.59
1.52
Supranational
4581X0DP0 Inter-American Dev Bank Note
0.250% Due 11/15/2023
2,800,000.00 07/01/2021
0.37%
2,792,300.00
2,797,686.43
96.55
5.23%
2,703,486.80
2,061.11
1.84%
(94,199.63)
Aaa / AAA
NR
0.71
0.70
45950KCT5 International Finance Corp Note
0.375% Due 07/16/2025
2,500,000.00 05/27/2021
0.66%
2,471,150.00
2,483,371.98
90.49
4.64%
2,262,175.00
1,171.88
1.54%
(221,196.98)
Aaa / AAA
NR
2.38
2.32
459058JL8 Intl. Bank Recon & Development Note
0.500% Due 10/28/2025
2,400,000.00 Various
0.60%
2,388,859.25
2,393,692.55
89.77
4.62%
2,154,518.40
4,100.00
1.47%
(239,174.15)
Aaa / AAA
AAA
2.67
2.59
As of February 28, 2023
23
205
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
4581X0DV7 Inter-American Dev Bank Note
0.875% Due 04/20/2026
2,460,000.00 04/13/2021
0.97%
2,448,733.20
2,452,928.94
89.26
4.58%
2,195,773.86
7,832.71
1.50%
(257,155.08)
Aaa / AAA
AAA
3.14
3.03
TOTAL Supranational 10,160,000.00 0.64%
10,101,042.45
10,127,679.90 4.79%
9,315,954.06
15,165.70
6.34%
(811,725.84)
Aaa / AAA
AAA
2.14
2.08
US Treasury
91282CBR1 US Treasury Note
0.250% Due 03/15/2024
1,450,000.00 03/30/2021
0.33%
1,446,488.28
1,448,764.39
95.08
5.16%
1,378,632.45
1,672.31
0.94%
(70,131.94)
Aaa / AA+
AAA
1.04
1.01
912828X70 US Treasury Note
2.000% Due 04/30/2024
1,700,000.00 06/10/2019
1.92%
1,705,976.56
1,701,426.34
96.46
5.16%
1,639,835.30
11,364.64
1.12%
(61,591.04)
Aaa / AA+
AAA
1.17
1.12
912828XX3 US Treasury Note
2.000% Due 06/30/2024
2,000,000.00 Various
1.80%
2,018,574.22
2,005,123.69
95.99
5.14%
1,919,766.00
6,629.84
1.31%
(85,357.69)
Aaa / AA+
AAA
1.34
1.29
912828D56 US Treasury Note
2.375% Due 08/15/2024
1,700,000.00 09/18/2019
1.71%
1,753,191.41
1,715,820.88
96.23
5.08%
1,635,918.50
1,561.46
1.11%
(79,902.38)
Aaa / AA+
AAA
1.46
1.41
912828YY0 US Treasury Note
1.750% Due 12/31/2024
2,100,000.00 03/15/2022
1.97%
2,087,203.13
2,091,589.91
94.56
4.88%
1,985,812.50
6,091.16
1.35%
(105,777.41)
Aaa / AA+
AAA
1.84
1.77
912828ZC7 US Treasury Note
1.125% Due 02/28/2025
1,500,000.00 03/18/2020
0.81%
1,523,144.53
1,509,350.03
93.05
4.81%
1,395,703.50
45.86
0.95%
(113,646.53)
Aaa / AA+
AAA
2.00
1.94
91282CED9 US Treasury Note
1.750% Due 03/15/2025
3,100,000.00 Various
2.23%
3,057,617.20
3,070,712.98
94.10
4.82%
2,917,149.60
25,026.93
2.00%
(153,563.38)
Aaa / AA+
AAA
2.04
1.95
912828ZL7 US Treasury Note
0.375% Due 04/30/2025
2,500,000.00 03/21/2022
2.24%
2,360,839.85
2,403,017.02
91.10
4.74%
2,277,540.00
3,133.63
1.55%
(125,477.02)
Aaa / AA+
AAA
2.17
2.11
91282CAB7 US Treasury Note
0.250% Due 07/31/2025
1,500,000.00 03/12/2021
0.72%
1,469,765.63
1,483,303.97
90.09
4.62%
1,351,407.00
300.41
0.92%
(131,896.97)
Aaa / AA+
AAA
2.42
2.36
91282CAM3 US Treasury Note
0.250% Due 09/30/2025
2,400,000.00 Various
0.56%
2,366,140.63
2,380,870.21
89.65
4.54%
2,151,561.60
2,505.49
1.46%
(229,308.61)
Aaa / AA+
AAA
2.59
2.52
91282CAT8 US Treasury Note
0.250% Due 10/31/2025
2,450,000.00 Various
0.49%
2,422,492.19
2,434,626.64
89.30
4.55%
2,187,965.15
2,047.30
1.49%
(246,661.49)
Aaa / AA+
AAA
2.67
2.60
91282CAZ4 US Treasury Note
0.375% Due 11/30/2025
2,250,000.00 03/26/2021
0.77%
2,209,658.20
2,226,248.68
89.33
4.54%
2,009,882.25
2,109.38
1.37%
(216,366.43)
Aaa / AA+
AAA
2.76
2.68
91282CBH3 US Treasury Note
0.375% Due 01/31/2026
2,500,000.00 05/27/2021
0.75%
2,456,445.31
2,472,806.99
88.83
4.50%
2,220,800.00
751.04
1.51%
(252,006.99)
Aaa / AA+
AAA
2.93
2.84
91282CBW0 US Treasury Note
0.750% Due 04/30/2026
2,500,000.00 05/27/2021
0.80%
2,493,652.34
2,495,918.86
89.14
4.46%
2,228,612.50
6,267.27
1.52%
(267,306.36)
Aaa / AA+
AAA
3.17
3.06
91282CCZ2 US Treasury Note
0.875% Due 09/30/2026
1,400,000.00 10/18/2021
1.19%
1,379,054.68
1,384,827.10
88.46
4.39%
1,238,452.60
5,115.38
0.84%
(146,374.50)
Aaa / AA+
AAA
3.59
3.44
As of February 28, 2023
24
206
Holdings Report
City of Cupertino -Account #10659
CUSIP Security Description Par Value/Units Purchase Date
Book Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody/S&P
Fitch
Maturity
Duration
91282CDG3 US Treasury Note
1.125% Due 10/31/2026
1,400,000.00 11/15/2021
1.25%
1,391,468.75
1,393,680.56
89.08
4.38%
1,247,093.40
5,264.50
0.85%
(146,587.16)
Aaa / AA+
AAA
3.67
3.51
91282CEW7 US Treasury Note
3.250% Due 06/30/2027
3,250,000.00 Various
3.18%
3,260,312.50
3,258,706.70
95.95
4.28%
3,118,349.00
17,506.91
2.13%
(140,357.70)
Aaa / AA+
AAA
4.34
3.97
91282CFB2 US Treasury Note
2.750% Due 07/31/2027
400,000.00 08/22/2022
3.12%
393,218.75
393,933.36
93.95
4.27%
375,781.20
881.22
0.26%
(18,152.16)
Aaa / AA+
AAA
4.42
4.09
91282CFH9 US Treasury Note
3.125% Due 08/31/2027
4,500,000.00 Various
3.28%
4,468,902.34
4,471,852.88
95.43
4.25%
4,294,512.00
382.14
2.92%
(177,340.88)
Aaa / AA+
AAA
4.51
4.14
91282CFM8 US Treasury Note
4.125% Due 09/30/2027
3,450,000.00 Various
4.31%
3,421,152.34
3,423,122.90
99.48
4.25%
3,431,942.70
59,427.19
2.37%
8,819.80
Aaa / AA+
AAA
4.59
4.07
91282CFZ9 US Treasury Note
3.875% Due 11/30/2027
850,000.00 12/05/2022
3.81%
852,656.25
852,532.19
98.57
4.21%
837,880.70
8,234.38
0.57%
(14,651.49)
Aaa / AA+
AAA
4.76
4.25
91282CGC9 US Treasury Note
3.875% Due 12/31/2027
2,750,000.00 Various
3.67%
2,775,107.42
2,774,660.64
98.54
4.21%
2,709,825.25
17,662.29
1.85%
(64,835.39)
Aaa / AA+
AAA
4.84
4.33
91282CGH8 US Treasury Note
3.500% Due 01/31/2028
3,000,000.00 02/07/2023
3.81%
2,957,929.69
2,958,415.65
96.96
4.19%
2,908,827.00
8,411.60
1.98%
(49,588.65)
Aaa / AA+
AAA
4.93
4.45
91282CGP0 US Treasury Note
4.000% Due 02/29/2028
2,100,000.00 02/23/2023
4.16%
2,084,988.28
2,084,996.50
99.26
4.17%
2,084,413.80
228.26
1.42%
(582.70)
Aaa / AA+
AAA
5.01
4.49
TOTAL US Treasury 52,750,000.00 2.19%
52,355,980.48
52,436,309.07 4.53%
49,547,664.00
192,620.59
33.78%
(2,888,645.07)
Aaa / AA+
AAA
3.24
3.02
TOTAL PORTFOLIO 156,479,010.79 1.81%
156,391,276.44
156,193,549.98 4.89%
146,729,574.54
528,666.62
100.00%
(9,463,975.44)
Aa1 / AA
AAA
2.71
2.32
TOTAL MARKET VALUE PLUS ACCRUALS 147,258,241.16
As of February 28, 2023
25
207
SECTION |Section 4 |Transactions
26
208
Transaction Ledger
City of Cupertino -Account #10659
Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp
Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 12/06/2022 91282CFZ9 850,000.00 US Treasury Note
3.875% Due: 11/30/2027
100.313 3.81%852,656.25 542.93 853,199.18 0.00
Purchase 01/06/2023 91282CGC9 750,000.00 US Treasury Note
3.875% Due: 12/31/2027
99.660 3.95%747,451.17 481.70 747,932.87 0.00
Purchase 01/26/2023 91282CGC9 2,000,000.00 US Treasury Note
3.875% Due: 12/31/2027
101.383 3.57%2,027,656.25 5,566.30 2,033,222.55 0.00
Purchase 02/08/2023 91282CGH8 3,000,000.00 US Treasury Note
3.5% Due: 01/31/2028
98.598 3.81%2,957,929.69 2,320.44 2,960,250.13 0.00
Purchase 02/28/2023 91282CGP0 2,100,000.00 US Treasury Note
4% Due: 02/29/2028
99.285 4.16%2,084,988.28 0.00 2,084,988.28 0.00
Subtotal 8,700,000.00 8,670,681.64 8,911.37 8,679,593.01 0.00
TOTAL ACQUISITIONS 8,700,000.00 8,670,681.64 8,911.37 8,679,593.01 0.00
DISPOSITIONS
Sale 01/26/2023 912828V23 1,500,000.00 US Treasury Note
2.25% Due: 12/31/2023
97.762 1.80%1,466,425.78 2,424.03 1,468,849.81 -39,625.84
Sale 02/08/2023 3137EAFA2 900,000.00 FHLMC Note
0.25% Due: 12/04/2023
96.198 0.28%865,782.00 400.00 866,182.00 -33,974.70
Sale 02/08/2023 912828B66 2,000,000.00 US Treasury Note
2.75% Due: 02/15/2024
97.910 1.96%1,958,203.13 26,453.80 1,984,656.93 -53,653.49
Sale 02/24/2023 3130A0XE5 1,500,000.00 FHLB Note
3.25% Due: 03/08/2024
98.041 2.27%1,470,615.00 22,479.17 1,493,094.17 -43,641.63
Subtotal 5,900,000.00 5,761,025.91 51,757.00 5,812,782.91 -170,895.66
TOTAL DISPOSITIONS 5,900,000.00 5,761,025.91 51,757.00 5,812,782.91 -170,895.66
November 30, 2022 through February 28, 2023
As of February 28, 2023
27
209
Important Disclosures
2023 Chandler Asset Management,Inc, An Independent Registered Investment Adviser.
Information contained herein is confidential.Prices are provided by ICE Data Services Inc (“IDS”),an independent pricing source.In the event IDS does not provide a price or if the price provided is not
reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures.Our valuation
procedures are also disclosed in Item 5 of our Form ADV Part 2A.
Performance results are presented gross-of-advisory fees and represent the client’s Total Return.The deduction of advisory fees lowers performance results.These results include the reinvestment of
dividends and other earnings.Past performance may not be indicative of future results.Therefore,clients should not assume that future performance of any specific investment or investment strategy
will be profitable or equal to past performance levels.All investment strategies have the potential for profit or loss.Economic factors,market conditions or changes in investment strategies,
contributions or withdrawals may materially alter the performance and results of your portfolio.
Index returns assume reinvestment of all distributions.Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the
deduction of an investment management fee,the incurrence of which would have the effect of decreasing historical performance results.It is not possible to invest directly in an index.
Source ICE Data Indices,LLC ("ICE"),used with permission. ICE permits use of the ICE indices and related data on an "as is"basis; ICE,its affiliates and their respective third party suppliers disclaim any and
all warranties and representations, express and/or implied,including any warranties of merchantability or fitness for a particular purpose or use,including the indices,index data and any data included
in,related to,or derived therefrom.Neither ICE data,its affiliates or their respective third party providers guarantee the quality,adequacy,accuracy,timeliness or completeness of the indices or the
index data or any component thereof,and the indices and index data and all components thereof are provided on an "as is"basis and licensee's use it at licensee's own risk. ICE data,its affiliates and their
respective third party do not sponsor,endorse,or recommend chandler asset management,or any of its products or services.
This report is provided for informational purposes only and should not be construed as a specific investment or legal advice.The information contained herein was obtained from sources believed to be
reliable as of the date of publication,but may become outdated or superseded at any time without notice.Any opinions or views expressed are based on current market conditions and are subject to
change.This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results.Past performance is not indicative of
future results.This report is not intended to constitute an offer,solicitation,recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a
substitute for the exercise of their own judgment.
Fixed income investments are subject to interest, credit and market risk.Interest rate risk:the value of fixed income investments will decline as interest rates rise.Credit risk:the possibility that the
borrower may not be able to repay interest and principal.Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk.Market risk:the bond market in
general could decline due to economic conditions,especially during periods of rising interest rates.
Ratings information have been provided by Moody’s,S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.
Security level ratings for U.S.Agency issued mortgage-backed securities (“MBS”)reflect the issuer rating because the securities themselves are not rated.The issuing U.S.Agency guarantees the full and
timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P,Moody’s and Fitch respectively.
As of February 28, 2023
28
210
Benchmark Disclosures
ICE BofA 1-5 Yr US Treasury & Agency Index
The ICE BofA 1-5 Year US Treasury &Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market.Qualifying
securities must have an investment grade rating (based on an average of Moody’s,S&P and Fitch).Qualifying securities must have at least one year remaining term to final maturity and less than five
years remaining term to final maturity,at least 18 months to maturity at time of issuance,a fixed coupon schedule,and a minimum amount outstanding of $1 billion for sovereigns and $250 million for
agencies.
As of February 28, 2023
29
211
INVESTMENT AND INSURANCE PRODUCTS ARE:
·NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) OR ANY FEDERAL GOVERNMENT AGENCY
·NOT A DEPOSIT, OBLIGATION OF, OR GUARANTEED BY ANY BANK OR BANKING AFFILIATE
·SUBJECT TO INVESTMENT RISKS AND MAY LOSE VALUE, INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED
PCS - SAN FRANCISCO CA
510 N VALLEY MILLS DRIVE, SUITE 400
WACO, TX 76710-6075
CITY OF CUPERTINO -CHANDLER ASSET MANAGEMENT
ACCOUNT NUMBER
MONTHLY STATEMENT
FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023
ACCOUNT MANAGER: MICHAEL J WADE
TELEPHONE NUMBER: 515-878-6110
PFGEDD INVESTMENT CONTACT: IMR/CHRISTINE NORGREN
TELEPHONE NUMBER:
ADMINISTRATOR: BELINDA CONWAY
TELEPHONE NUMBER: 254-265-6137
06023 SE
212
Custody and trust services are provided by Principal Bank
®, Member FDIC, and/or Principal Trust Company
®. These services are provided under the trade
name Principal
®Custody Solutions. Principal Trust Company is a trade name of Delaware Charter Guarantee & Trust Company. Principal Bank and
Principal Trust Company are members of the Principal Financial Group
®, Des Moines, IA 50392.
ASSET VALUATION PRACTICES
VALUES REFLECTED FOR PUBLICLY TRADED ASSETS ARE OBTAINED FROM UNAFFILIATED SOURCES. IN SITUATIONS WHERE AN ASSET VALUE CANNOT BE
PROVIDED BY OUR UNAFFILIATED PRICING SOURCES, SUCH AS BUT NOT LIMITED TO NON-PUBLICLY TRADED ASSETS, THE CUSTOMER OR THEIR DESIGNATED
REPRESENTATIVE MUST PROVIDE THE UPDATED VALUE. IF PRINCIPAL CUSTODY SOLUTIONS DOES NOT RECEIVE AN UPDATED VALUE, OR IS UNABLE TO USE
THE VALUE PROVIDED, THE LAST REPORTED VALUE WILL CONTINUE TO BE REPORTED. VALUES OBTAINED FROM THE CUSTOMER OR THEIR DESIGNATED
REPRESENTATIVE SHOULD NOT BE CONSIDERED TO BE CERTIFIED BY PRINCIPAL BANK/PRINCIPAL TRUST COMPANY, AS APPLICABLE.
SPECIAL INVESTMENTS
"SPECIAL INVESTMENTS" ARE ASSETS NOT HELD IN CUSTODY BY PRINCIPAL BANK/PRINCIPAL TRUST COMPANY BUT WHOSE VALUE MAY BE SHOWN ON
ACCOUNT STATEMENTS. EXAMPLES OF SPECIAL INVESTMENTS INCLUDE, BUT ARE NOT LIMITED TO, COMMON OR COLLECTIVE FUNDS NOT ADMINISTERED BY
PRINCIPAL BANK/PRINCIPAL TRUST COMPANY (OR THEIR AFFILIATES), HEDGE FUNDS, LIMITED PARTNERSHIPS, AND OTHER UNREGISTERED SECURITIES.
AT THE DIRECTION OF AND AS A MATTER OF CONVENIENCE TO ITS CLIENTS, PRINCIPAL BANK/PRINCIPAL TRUST COMPANY MAY BE REPORT SPECIAL
INVESTMENTS AS A RECORDKEEPING ITEM ON ACCOUNT STATEMENTS, AT NOMINAL VALUE OR SUCH OTHER VALUE PROVIDED BY CLIENTS/EXTERNAL SOURCES.
NEITHER PRINCIPAL BANK NOR PRINCIPAL TRUST COMPANY IS RESPONSIBLE FOR THE ACCURACY OF INFORMATION PROVIDED BY EXTERNAL SOURCES, AND
DOES NOT CERTIFY THAT INFORMATION PROVIDED BY THESE EXTERNAL SOURCES IS TRUE OR CORRECT FOR THE SPECIAL INVESTMENTS REFLECTED IN YOUR
ACCOUNT.
TRADE CONFIRMS
PURSUANT TO FEDERAL REGULATION, MONTHLY OR QUARTERLY ACCOUNT STATEMENTS THAT INCLUDE INVESTMENT TRANSACTION DETAILS MAY BE PROVIDED
IN LIEU OF SEPARATE TRADE CONFIRMATIONS. SEPARATE TRADE CONFIRMS MAY BE OBTAINED AT NO ADDITIONAL COST UPON WRITTEN REQUEST TO THE
ACCOUNT MANAGER.
UNCLAIMED PROPERTY DESIGNATED REPRESENTATIVE NOTIFICATION
YOUR PROPERTY MAY BE TRANSFERRED TO THE APPROPRIATE STATE IF NO ACTIVITY OCCURS IN THE ACCOUNT WITHIN THE TIME PERIOD SPECIFIED BY
STATE LAW. IF YOUR STATE OF RESIDENCE ALLOWS, YOU MAY DESIGNATE A REPRESENTATIVE FOR THE PURPOSE OF RECEIVING NOTICE OF ACCOUNT
INACTIVITY BY PROVIDING THE NAME AND MAILING OR EMAIL ADDRESS OF A REPRESENTATIVE. THE DESIGNATED REPRESENTATIVE DOES NOT HAVE ANY
RIGHTS TO YOUR ACCOUNT. PLEASE REFER TO YOUR STATE'S UNCLAIMED PROPERTY WEBSITE FOR MORE INFORMATION AND INSTRUCTIONS ON HOW TO
DESIGNATE A REPRESENTATIVE FOR NOTICE.
213
TABLE OF CONTENTS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
PAGE
REPORT NAME NUMBER
ASSET SUMMARY .................................................................................. 1
STATEMENT OF ASSETS AND LIABILITIES ............................................................ 2
CASH SUMMARY ................................................................................... 20
STATEMENT OF TRANSACTIONS ...................................................................... 21
214
PAGE 1
ASSET SUMMARY CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
ASSET SUMMARY
% TOTAL UNREALIZED ESTIMATED CURRENT ACCRUED
INVESTMENT CATEGORY COST VALUE MARKET VALUE MARKET GAIN/LOSS ANNUAL INCOME YIELD INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
CASH 0.00 0.00 0.00
CASH EQUIVALENTS 155,588.22 155,588.22 0.11 0.00 6,244 4.01 1,589.87
BONDS AND NOTES 156,235,688.22 146,574,166.13 99.89 9,661,522.09- 2,754,818 1.88 528,610.79
TOTAL INVESTMENTS 156,391,276.44 146,729,754.35 100.00 9,661,522.09- 2,761,062 1.88 530,200.66
TOTAL ACCRUALS 530,200.66 530,200.66
=====================================================================================================================================
TOTAL ACCRUALS AND INVESTMENTS 156,921,477.10 147,259,955.01 9,661,522.09- 2,761,062 1.88 530,200.66
215
PAGE 2
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
CASH EQUIVALENTS
149,690.73 ALLSPRING 100% TREASURY 149,690.73 149,690.73 0.10 0.00 1,579.31
MONEY MARKET FUND - #008 1.0000 1.0000
5,897.49 PRINCIPAL PUBLIC DEPOSIT SWEEP 5,897.49 5,897.49 0.00 0.00 10.56
PROGRAM 1.0000 1.0000
TOTAL CASH EQUIVALENTS 155,588.22 155,588.22 0.11 0.00 1,589.87
BOND & NOTES
1,675,000 AIR PRODUCTS & CHEMICALS 1,771,212.00 1,632,790.00 1.11 138,422.00- 4,831.91
DTD 07/31/14 3.350 07/31/2024 105.7440 97.4800
MOODY'S RATING A2
CUSIP 009158AV8
1,875,000 AMAZON.COM INC 1,866,900.00 1,660,012.50 1.13 206,887.50- 5,677.08
DTD 05/12/21 1.000 05/12/2026 99.5680 88.5340
MOODY'S RATING A1
CUSIP 023135BX3
1,375,000 AMERICAN EXPRESS CREDIT ACCOUNT 1,374,695.85 1,325,802.50 0.90 48,893.35- 2,071.67
ASSET BCKD SEC SER 2022-2 CL A 99.9779 96.4220
DTD 05/24/2022 3.390% 05/17/2027
NON CALLABLE
CUSIP 02582JJT8
1,545,000 AMERICAN EXPRESS CREDIT ACCOUNT 1,524,359.77 1,456,533.30 0.99 67,826.47- 1,517.53
ASSET BCKD SEC SER 2022-1 CL A 98.6641 94.2740
DTD 03/18/2022 2.210% 03/15/2027
NON CALLABLE
MOODY'S RATING AAA
CUSIP 02589BAA8
1,150,000 BANK OF AMERICA CORP 1,114,222.54 1,080,735.50 0.74 33,487.04- 14,552.36
MED TERM NOTE 96.8889 93.9770
DTD 04/23/19 04/23/2027
MOODY'S RATING A2
CUSIP 06051GHT9
216
PAGE 3
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
600,000 BANK OF AMERICA CORP 620,988.00 558,240.00 0.38 62,748.00-604.50
MED TERM NOTE 103.4980 93.0400
DTD 02/13/20 02/13/2026
MOODY'S RATING A2
CUSIP 06051GHY8
700,000 BANK OF AMERICA CORP 701,274.00 634,956.00 0.43 66,318.00- 1,846.60
MED TERM NOTE 100.1820 90.7080
DTD 06/19/20 06/19/2026
MOODY'S RATING A2
CUSIP 06051GJD2
600,000 BANK OF MONTREAL 582,216.00 563,082.00 0.38 19,134.00-541.67
MED TERM NOTE 97.0360 93.8470
DTD 07/09/21 0.625 07/09/2024
MOODY'S RATING A2
CUSIP 06367TQW3
1,240,000 BANK OF MONTREAL 1,285,656.80 1,150,558.80 0.78 135,098.00- 7,646.67
MED TERM NOTE 103.6820 92.7870
DTD 04/27/20 1.850 05/01/2025
MOODY'S RATING A2
CUSIP 06367WB85
1,000,000 BANK OF NEW YORK MELLON 1,024,910.00 969,360.00 0.66 55,550.00- 11,301.39
MED TERM NOTE 102.4910 96.9360
DTD 11/18/13 3.950 11/18/2025
MOODY'S RATING A1
CUSIP 06406HCQ0
1,370,000 BANK OF NY MELLON CORP 1,369,808.20 1,318,323.60 0.90 51,484.60- 16,063.25
DTD 04/26/2022 3.350% 04/25/2025 99.9860 96.2280
CALLABLE
MOODY'S RATING A1
CUSIP 06406RBC0
1,615,000 BERKSHIRE HATHAWAY FIN 1,614,693.15 1,492,760.65 1.02 121,932.50- 17,127.97
DTD 03/15/2022 2.300% 03/15/2027 99.9810 92.4310
CALLABLE
MOODY'S RATING AA2
CUSIP 084664CZ2
217
PAGE 4
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
450,000 BMW VEHICLE LEASE TRUST 449,932.73 437,683.50 0.30 12,249.23-82.50
SER 2022-1 CL A3 *0 DAY DELAY*99.9851 97.2630
DTD 01/19/22 1.100 03/25/2025
CUSIP 05601XAC3
339,486.6 BMW VEHICLE LEASE TRUST 339,451.56 332,761.37 0.23 6,690.19-15.56
SER 2021-2 CL A3 *0 DAY DELAY*99.9897 98.0190
DTD 09/15/21 0.330 12/26/2024
MOODY'S RATING AAA
CUSIP 09690AAC7
530,000 BMW VEHICLE OWNER TRUST 529,972.44 515,001.00 0.35 14,971.44-283.55
ASSET BCKD SEC SER 2022-A CL A3 99.9948 97.1700
DTD 05/18/2022 3.210% 08/25/2026
CALLABLE
MOODY'S RATING AAA
CUSIP 05602RAD3
755,000 CALIFORNIA ST 772,342.35 726,453.45 0.50 45,888.90- 7,550.00
TXBL-REF 102.2970 96.2190
DTD 10/24/19 2.400 10/01/2024
MOODY'S RATING AA2
CUSIP 13063DRK6
1,100,000 CATERPILLAR FINL SERVICE 1,111,517.00 1,048,762.00 0.71 62,755.00- 7,423.47
MED TERM NOTE 101.0470 95.3420
DTD 11/08/19 2.150 11/08/2024
MOODY'S RATING A2
CUSIP 14913Q3B3
960,000 CHARLES SCHWAB CORP 959,729.90 870,662.40 0.59 89,067.50- 11,629.33
DTD 03/03/2022 2.450% 03/03/2027 99.9719 90.6940
CALLABLE
MOODY'S RATING A2
CUSIP 808513BY0
1,500,000 FED HOME LN BK 1,564,890.20 1,455,300.00 0.99 109,590.20- 9,223.96
DTD 05/08/14 2.875 06/14/2024 104.3260 97.0200
MOODY'S RATING AAA
CUSIP 3130A1XJ2
218
PAGE 5
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
2,000,000 FED HOME LN BK 2,103,380.00 1,936,240.00 1.32 167,140.00- 26,833.33
DTD 08/15/14 2.875 09/13/2024 105.1690 96.8120
MOODY'S RATING AAA
CUSIP 3130A2UW4
1,300,000 FED HOME LN MTG CORP 1,398,414.06 1,260,181.00 0.86 138,233.06- 3,435.25
SER KO41 CL A2 *24 DAY DELAY*107.5703 96.9370
DTD 12/01/14 3.171 10/25/2024
CUSIP 3137BFE98
2,365,000 FED HOME LN MTG CORP 2,363,178.95 2,220,096.45 1.51 143,082.50- 1,872.29
DTD 02/14/20 1.500 02/12/2025 99.9230 93.8730
MOODY'S RATING AAA
CUSIP 3137EAEP0
1,250,000 FED HOME LN MTG CORP 1,243,775.00 1,128,287.50 0.77 115,487.50-520.83
SER USD 99.5020 90.2630
DTD 07/23/20 0.375 07/21/2025
MOODY'S RATING AAA
CUSIP 3137EAEU9
2,500,000 FED HOME LN MTG CORP 2,489,362.80 2,246,775.00 1.53 242,587.80- 4,114.58
DTD 09/25/20 0.375 09/23/2025 99.5745 89.8710
MOODY'S RATING AAA
CUSIP 3137EAEX3
855,000 FED HOME LN MTG CORP 854,153.55 822,638.25 0.56 31,515.30-516.56
DTD 12/04/20 0.250 12/04/2023 99.9010 96.2150
MOODY'S RATING AAA
CUSIP 3137EAFA2
1,500,000 FED NATL MTG ASSN 1,484,895.00 1,434,855.00 0.98 50,040.00- 4,302.08
DTD 07/08/19 1.750 07/02/2024 98.9930 95.6570
MOODY'S RATING AAA
CUSIP 3135G0V75
1,975,000 FED NATL MTG ASSN 1,965,802.75 1,872,122.25 1.28 93,680.50- 12,124.31
DTD 10/18/19 1.625 10/15/2024 99.5343 94.7910
MOODY'S RATING AAA
CUSIP 3135G0W66
219
PAGE 6
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
1,295,000 FED NATL MTG ASSN 1,309,953.95 1,221,159.10 0.83 88,794.85- 3,156.56
DTD 01/10/20 1.625 01/07/2025 101.1548 94.2980
MOODY'S RATING AAA
CUSIP 3135G0X24
1,860,000 FED NATL MTG ASSN 1,856,168.40 1,703,239.20 1.16 152,929.20- 4,165.62
DTD 04/24/20 0.625 04/22/2025 99.7940 91.5720
MOODY'S RATING AAA
CUSIP 3135G03U5
2,500,000 FED NATL MTG ASSN 2,499,227.30 2,272,025.00 1.55 227,202.30- 2,569.44
DTD 06/19/20 0.500 06/17/2025 99.9691 90.8810
MOODY'S RATING AAA
CUSIP 3135G04Z3
2,500,000 FED NATL MTG ASSN 2,487,983.75 2,247,975.00 1.53 240,008.75-156.25
DTD 08/27/20 0.375 08/25/2025 99.5194 89.9190
MOODY'S RATING AAA
CUSIP 3135G05X7
2,500,000 FED NATL MTG ASSN 2,492,700.00 2,241,350.00 1.53 251,350.00- 3,958.33
DTD 11/12/20 0.500 11/07/2025 99.7080 89.6540
MOODY'S RATING AAA
CUSIP 3135G06G3
1,000,000 FHLMC MULTIFAMILY STRUCTURED P 1,079,687.50 957,050.00 0.65 122,637.50- 2,508.33
SER K049 CL A2 *24 DAY DELAY*107.9688 95.7050
DTD 10/01/15 3.010 08/25/2025
CUSIP 3137BLMZ8
950,000 FHLMC MULTIFAMILY STRUCTURED P 1,018,132.81 914,071.00 0.62 104,061.81- 2,639.42
SER K050 CL A2 *24 DAY DELAY*107.1719 96.2180
DTD 11/01/15 08/25/2025
CUSIP 3137BLW95
440,000 FHLMC MULTIFAMILY STRUCTURED P 453,079.69 422,804.80 0.29 30,274.89- 1,212.93
SER K051 CL A2 *24 DAY DELAY*102.9727 96.0920
DTD 12/01/15 3.308 09/25/2025
CUSIP 3137BM7C4
220
PAGE 7
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
570,000 FHLMC MULTIFAMILY STRUCTURED P 582,001.17 542,429.10 0.37 39,572.07- 1,422.63
SER K053 CL A2 *24 DAY DELAY*102.1055 95.1630
DTD 03/01/16 2.995 12/25/2025
CUSIP 3137BN6G4
650,000 FHLMC MULTIFAMILY STRUCTURED P 687,451.17 606,469.50 0.41 80,981.67- 1,437.04
SER K058 CL A2 *24 DAY DELAY*105.7617 93.3030
DTD 11/01/16 2.653 08/25/2026
CUSIP 3137BSP72
1,000,000 FHLMC MULTIFAMILY STRUCTURED P 950,664.06 945,050.00 0.64 5,614.06- 2,703.33
SER K068 CL A2 *24 DAY DELAY*95.0664 94.5050
DTD 10/01/17 3.244 08/25/2027
MOODY'S RATING AAA
CUSIP 3137FBBX3
954,985.74 GM FINANCIAL AUTOMOBILE LEASIN 954,972.76 933,240.71 0.64 21,732.05-103.46
SER 2021-3 CL A3 *0 DAY DELAY*99.9987 97.7230
DTD 08/18/21 0.390 10/21/2024
CUSIP 36262XAC8
945,000 GM FINANCIAL AUTOMOBILE LEASIN 944,991.87 916,621.65 0.62 28,370.22-534.19
SER 2022-1 CL A3 *0 DAY DELAY*99.9992 96.9970
DTD 02/23/22 1.850 03/20/2025
MOODY'S RATING AAA
CUSIP 36265MAC9
350,000 GM FINANCIAL SECURITIZED TERM 349,991.08 331,156.00 0.23 18,835.08-99.17
SER 2021-4 CL A3 *0 DAY DELAY*99.9975 94.6160
DTD 10/21/21 0.680 09/16/2026
MOODY'S RATING AAA
CUSIP 362554AC1
390,000 GM FINANCIAL SECURITIZED TERM 389,918.49 376,935.00 0.26 12,983.49-503.75
ASSET BCKD SEC SER 2022-2 CL A3 99.9791 96.6500
DTD 04/13/2022 3.100% 02/16/2027
CALLABLE
MOODY'S RATING AAA
CUSIP 362585AC5
221
PAGE 8
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
295,000 GM FINANCIAL SECURITIZED TERM 294,974.36 280,205.75 0.19 14,768.61-154.88
SER 2022-1 CL A3 *0 DAY DELAY*99.9913 94.9850
DTD 01/19/22 1.260 11/16/2026
CUSIP 380146AC4
1,400,000 GUARDIAN LIFE GLOB FUND 1,385,860.00 1,234,128.00 0.84 151,732.00- 2,756.25
144A PRIV PLCMT 0.875 12/10/2025 98.9900 88.1520
MOODY'S RATING AA1
CUSIP 40139LBC6
41,317.49 HONDA AUTO RECEIVABLES OWNER T 41,314.24 40,855.56 0.03 458.68-15.06
SER 2020-2 CL A3 *0 DAY DELAY*99.9921 98.8820
DTD 05/27/20 0.820 07/15/2024
MOODY'S RATING AAA
CUSIP 43813DAC2
176,319.93 HONDA AUTO RECEIVABLES OWNER T 176,316.71 171,259.55 0.12 5,057.16-13.22
SER 2021-1 CL A3 *0 DAY DELAY*99.9982 97.1300
DTD 02/24/21 0.270 04/21/2025
MOODY'S RATING AAA
CUSIP 43813GAC5
232,437.33 HONDA AUTO RECEIVABLES OWNER T 232,403.18 227,914.10 0.16 4,489.08-31.06
SER 2020-3 CL A3 *0 DAY DELAY*99.9853 98.0540
DTD 09/29/20 0.370 10/18/2024
CUSIP 43813KAC6
740,000 HONDA AUTO RECEIVABLES OWNER T 739,888.70 705,005.40 0.48 34,883.30-618.31
SER 2022-1 CL A3 *0 DAY DELAY*99.9850 95.2710
DTD 02/23/22 1.000 05/15/2026
MOODY'S RATING AAA
CUSIP 43815BAC4
460,000 HONDA AUTO RECEIVABLES OWNER T 459,903.03 436,825.20 0.30 23,077.83-112.44
SER 2021-4 CL A3 *0 DAY DELAY*99.9789 94.9620
DTD 11/24/21 0.880 01/21/2026
MOODY'S RATING AAA
CUSIP 43815GAC3
222
PAGE 9
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
626,456.51 HYUNDAI AUTO LEASE SECURITIZAT 626,362.54 619,145.76 0.42 7,216.78-80.40
SER 2021-B CL A3 *0 DAY DELAY*99.9850 98.8330
144A PRIV PLCMT 0.330 06/17/2024
MOODY'S RATING AAA
CUSIP 44891VAC5
540,000 HYUNDAI AUTO LEASE SECURITIZAT 539,988.07 523,605.60 0.36 16,382.47-278.40
SER 2022-A CL A3 *0 DAY DELAY*99.9978 96.9640
144A PRIV PLCMT 1.160 01/15/2025
MOODY'S RATING AAA
CUSIP 44891WAC3
1,010,000 HYUNDAI AUTO RECEIVABLES TRUST 1,009,961.12 964,691.40 0.66 45,269.72-996.53
ASSET BCKD SEC SER 2022-A CL A3 99.9962 95.5140
DTD 03/16/2022 2.220% 10/15/2026
CALLABLE
CUSIP 448977AD0
421,138.95 HYUNDAI AUTO RECEIVABLES TRUST 421,094.64 408,820.64 0.28 12,274.00-71.13
SER 2021-A CL A3 *0 DAY DELAY*99.9895 97.0750
DTD 04/28/21 0.380 09/15/2025
CUSIP 44933LAC7
1,330,000 HYUNDAI AUTO RECEIVABLES TRUST 1,296,371.65 1,262,861.60 0.86 33,510.05-437.42
SER 2021-C CL A3 *0 DAY DELAY*97.4716 94.9520
DTD 11/17/21 0.740 05/15/2026
CUSIP 44935FAD6
2,800,000 INTER-AMERICAN DEVEL BK 2,792,300.00 2,703,484.00 1.84 88,816.00- 2,061.11
DTD 09/02/20 0.250 11/15/2023 99.7250 96.5530
MOODY'S RATING AAA
CUSIP 4581X0DP0
2,460,000 INTER-AMERICAN DEVEL BK 2,448,733.20 2,195,771.40 1.50 252,961.80- 7,832.71
DTD 04/20/21 0.875 04/20/2026 99.5420 89.2590
MOODY'S RATING AAA
CUSIP 4581X0DV7
223
PAGE 10
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
2,400,000 INTL BK RECON & DEVELOP 2,388,859.25 2,154,528.00 1.47 234,331.25- 4,100.00
DTD 10/28/20 0.500 10/28/2025 99.5358 89.7720
MOODY'S RATING AAA
CUSIP 459058JL8
2,500,000 INTL FINANCE CORP 2,471,150.00 2,262,175.00 1.54 208,975.00- 1,171.88
DTD 07/16/20 0.375 07/16/2025 98.8460 90.4870
MOODY'S RATING AAA
CUSIP 45950KCT5
1,030,000 JOHN DEERE CAPITAL CORP 1,029,268.70 987,780.30 0.67 41,488.40-566.50
MED TERM NOTE 99.9290 95.9010
DTD 03/04/21 0.450 01/17/2024
MOODY'S RATING A2
CUSIP 24422EVN6
450,000 JOHN DEERE OWNER TRUST 449,900.46 430,317.00 0.29 19,583.46-464.00
ASSET BCKD SEC SER 2022-A CL A3 99.9779 95.6260
DTD 03/16/2022 2.320% 09/16/2026
NON CALLABLE
MOODY'S RATING AAA
CUSIP 47787JAC2
70,156.18 JOHN DEERE OWNER TRUST 70,145.48 69,211.18 0.05 934.30-15.90
SER 2020-B CL A3 *0 DAY DELAY*99.9848 98.6530
DTD 07/22/20 0.510 11/15/2024
MOODY'S RATING AAA
CUSIP 47787NAC3
0.01 JOHN DEERE OWNER TRUST 0.00 0.01 0.00 0.01 0.00
SER 2019-B CL A3 *0 DAY DELAY*0.0000 99.9820
DTD 07/24/19 2.210 12/15/2023
MOODY'S RATING AAA
CUSIP 477870AC3
37,608.01 JOHN DEERE OWNER TRUST 37,605.71 37,361.68 0.03 244.03-18.39
SER 2020-A CL A3 *0 DAY DELAY*99.9939 99.3450
DTD 03/11/20 1.100 08/15/2024
MOODY'S RATING AAA
CUSIP 47789KAC7
224
PAGE 11
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
580,000 JOHN DEERE OWNER TRUST 579,948.26 553,314.20 0.38 26,634.06-125.67
SER 2021-B CL A3 *0 DAY DELAY*99.9911 95.3990
DTD 07/21/21 0.520 03/16/2026
MOODY'S RATING AAA
CUSIP 47789QAC4
655,000 JOHN DEERE OWNER TRUST 654,937.45 633,666.65 0.43 21,270.80- 1,088.76
ASSET BCKD SEC SER 2022-B CL A3 99.9905 96.7430
DTD 07/20/2022 3.740% 02/16/2027
NON CALLABLE
MOODY'S RATING AAA
CUSIP 47800AAC4
1,050,000 JOHN DEERE OWNER TRUST 1,049,918.52 1,049,118.00 0.72 800.52- 2,375.33
ASSET BCKD SEC SER 2022-C CL A3 99.9923 99.9160
DTD 10/19/2022 5.090% 06/15/2027
CALLABLE
MOODY'S RATING AAA
CUSIP 47800BAC2
655,000 JPMORGAN CHASE &655,406.85 614,671.65 0.42 40,735.20- 1,198.87
SER F2F 100.0621 93.8430
DTD 06/23/21 06/23/2025
MOODY'S RATING A1
CUSIP 46647PCK0
401,000 JPMORGAN CHASE & CO 415,969.33 372,360.58 0.25 43,608.75- 2,993.10
DTD 04/22/20 04/22/2026 103.7330 92.8580
MOODY'S RATING A1
CUSIP 46647PBK1
1,370,000 JPMORGAN CHASE & CO 1,371,773.90 1,285,224.40 0.88 86,549.50- 2,822.20
DTD 06/01/21 06/01/2025 100.1295 93.8120
MOODY'S RATING A1
CUSIP 46647PCH7
1,000,000 MASSMUTUAL GLOBAL FUNDIN 1,002,230.00 881,170.00 0.60 121,060.00- 1,500.00
144A PRIV PLCMT 1.200 07/16/2026 100.2230 88.1170
MOODY'S RATING AA3
CUSIP 57629WDE7
225
PAGE 12
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
1,115,000 MET LIFE GLOB FUNDING I 1,113,728.90 985,860.70 0.67 127,868.20- 2,903.65
144A PRIV PLCMT 1.875 01/11/2027 99.8860 88.4180
MOODY'S RATING AA3
CUSIP 59217GER6
770,000 MET TOWER GLOBAL FUNDING 769,291.60 669,538.10 0.46 99,753.50- 4,464.93
144A PRIV PLCMT 1.250 09/14/2026 99.9080 86.9530
MOODY'S RATING AA3
CUSIP 58989V2D5
650,000 MORGAN STANLEY 615,699.50 605,839.00 0.41 9,860.50- 4,859.18
DTD 04/28/20 04/28/2026 94.7230 93.2060
MOODY'S RATING A1
CUSIP 6174468Q5
1,680,000 NEW YORK LIFE GLOBAL FDG 1,678,185.60 1,565,558.40 1.07 112,627.20- 3,180.33
144A PRIV PLCMT 1.450 01/14/2025 99.8920 93.1880
MOODY'S RATING AAA
CUSIP 64952WEK5
74,774.12 NISSAN AUTO RECEIVABLES OWNER 75,145.07 74,617.84 0.05 527.23-64.14
SER 2019-C CL A3 *0 DAY DELAY*100.4961 99.7910
DTD 10/23/19 1.930 07/15/2024
MOODY'S RATING AAA
CUSIP 65479JAD5
670,000 NORTHERN TRUST CORP 668,914.60 648,988.80 0.44 19,925.80- 8,263.33
DTD 05/10/2022 4.000% 05/10/2027 99.8380 96.8640
CALLABLE
MOODY'S RATING A2
CUSIP 665859AW4
850,000 NORTHWESTERN MUTUAL GLBL 827,449.50 753,601.50 0.51 73,848.00-887.78
144A PRIV PLCMT 0.800 01/14/2026 97.3470 88.6590
MOODY'S RATING AAA
CUSIP 66815L2A6
226
PAGE 13
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
1,170,000 NORTHWESTERN MUTUAL GLBL 1,169,602.20 1,137,672.90 0.78 31,929.30- 7,800.00
DTD 07/01/2022 4.000% 07/01/2025 99.9660 97.2370
NON CALLABLE
144A PRIVATE PLACEMENT
MOODY'S RATING AAA
CUSIP 66815L2J7
370,000 PACCAR FINANCIAL CORP 369,182.30 353,960.50 0.24 15,221.80-353.56
MED TERM NOTE 99.7790 95.6650
DTD 08/15/19 2.150 08/15/2024
MOODY'S RATING A1
CUSIP 69371RQ25
680,000 PACCAR FINANCIAL CORP 679,632.80 634,786.80 0.43 44,846.00-207.78
MED TERM NOTE 99.9460 93.3510
DTD 08/09/21 0.500 08/09/2024
MOODY'S RATING A1
CUSIP 69371RR40
885,000 PACCAR FINANCIAL CORP 884,769.90 845,042.25 0.58 39,727.65- 10,089.00
DTD 04/07/2022 2.850% 04/07/2025 99.9740 95.4850
NON CALLABLE
MOODY'S RATING A1
CUSIP 69371RR73
904,000 PRICOA GLOBAL FUNDING 1 832,972.72 808,374.88 0.55 24,597.84- 3,616.00
144A PRIV PLCMT 0.800 09/01/2025 92.1430 89.4220
MOODY'S RATING AA3
CUSIP 74153WCM9
885,000 PRICOA GLOBAL FUNDING 1 884,088.45 820,483.50 0.56 63,604.95- 2,403.02
144A PRIV PLCMT 1.150 12/06/2024 99.8970 92.7100
MOODY'S RATING AA3
CUSIP 74153WCQ0
1,500,000 ROYAL BANK OF CANADA 1,533,359.18 1,444,500.00 0.98 88,859.18- 4,781.25
DTD 07/16/19 2.550 07/16/2024 102.2240 96.3000
MOODY'S RATING A1
CUSIP 78013XZU5
227
PAGE 14
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
1,050,000 ROYAL BANK OF CANADA 1,049,611.50 1,010,016.00 0.69 39,595.50- 13,485.94
MEDIUM TERM NOTE 99.9630 96.1920
CONVERTIBLE
DTD 04/14/2022 3.375% 04/14/2025
NON CALLABLE
MOODY'S RATING A1
CUSIP 78016EZ59
1,760,000 SALESFORCE.COM INC 1,748,937.40 1,654,083.20 1.13 94,854.20- 1,405.56
DTD 07/12/21 0.625 07/15/2024 99.3715 93.9820
MOODY'S RATING A2
CUSIP 79466LAG9
1,500,000 TORONTO-DOMINION BANK 1,527,255.00 1,450,335.00 0.99 76,920.00- 8,722.92
MED TERM NOTE 101.8170 96.6890
DTD 06/12/19 2.650 06/12/2024
MOODY'S RATING A1
CUSIP 89114QCA4
700,000 TORONTO-DOMINION BANK 674,737.00 653,436.00 0.45 21,301.00- 1,437.92
MED TERM NOTE SER FXD 96.3910 93.3480
DTD 01/12/22 1.450 01/10/2025
MOODY'S RATING A1
CUSIP 89114TZL9
172,260.09 TOYOTA AUTO RECEIVABLES OWNER 172,228.00 169,359.23 0.12 2,868.77-26.80
SER 2020-D CL A3 *0 DAY DELAY*99.9814 98.3160
DTD 10/13/20 0.350 01/15/2025
CUSIP 89236XAC0
430,000 TOYOTA AUTO RECEIVABLES OWNER 429,990.84 406,969.20 0.28 23,021.64-135.69
SER 2021-D CL A3 *0 DAY DELAY*99.9979 94.6440
DTD 11/15/21 0.710 04/15/2026
CUSIP 89238JAC9
641,680.32 TOYOTA AUTO RECEIVABLES OWNER 641,561.23 624,123.95 0.43 17,437.28-74.15
SER 2021-A CL A3 *0 DAY DELAY*99.9815 97.2640
DTD 02/08/21 0.260 05/15/2025
MOODY'S RATING AAA
CUSIP 89240BAC2
228
PAGE 15
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
406,975.24 TOYOTA LEASE OWNER TRUST 398,835.73 402,661.30 0.27 3,825.57 39.68
SER 2021-A CL A3 *0 DAY DELAY*98.0000 98.9400
144A PRIV PLCMT 0.390 04/22/2024
MOODY'S RATING AAA
CUSIP 89238EAC0
1,150,000 TOYOTA LEASE OWNER TRUST 1,149,818.99 1,112,763.00 0.76 37,055.99-688.72
ASSET BCKD SEC SER 2022-A CL A3 99.9843 96.7620
DTD 02/28/2022 1.960% 02/20/2025
CALLABLE
144A PRIVATE PLACEMENT
CUSIP 89238LAC4
1,385,000 TOYOTA MOTOR CREDIT CORP 1,384,390.60 1,222,774.95 0.83 161,615.65- 3,159.53
MED TERM NOTE 99.9560 88.2870
DTD 06/18/21 1.125 06/18/2026
MOODY'S RATING A1
CUSIP 89236TJK2
1,215,000 TOYOTA MOTOR CREDIT CORP 1,213,371.90 1,137,227.85 0.78 76,144.05- 2,349.00
DTD 01/13/22 1.450 01/13/2025 99.8660 93.5990
MOODY'S RATING A1
CUSIP 89236TJT3
2,100,000 UNITED STATES TREASURY BONDS 2,084,988.28 2,084,418.00 1.42 570.28-228.26
DTD 02/28/2023 4.000% 02/29/2028 99.2852 99.2580
MOODY'S RATING AAA
CUSIP 91282CGP0
3,100,000 UNITED STATES TREASURY NOTES 3,057,617.20 2,917,162.00 1.99 140,455.20- 25,026.93
DTD 03/15/2022 1.750% 03/15/2025 98.6328 94.1020
MOODY'S RATING AAA
CUSIP 91282CED9
3,250,000 UNITED STATES TREASURY NOTES 3,260,312.50 3,118,342.50 2.13 141,970.00- 17,506.91
DTD 06/30/2022 3.250% 06/30/2027 100.3173 95.9490
MOODY'S RATING AAA
CUSIP 91282CEW7
229
PAGE 16
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
400,000 UNITED STATES TREASURY NOTES 393,218.75 375,780.00 0.26 17,438.75-881.22
DTD 07/31/2022 2.750% 07/31/2027 98.3047 93.9450
MOODY'S RATING AAA
CUSIP 91282CFB2
4,500,000 UNITED STATES TREASURY NOTES 4,468,902.34 4,294,530.00 2.93 174,372.34-382.13
DTD 08/31/2022 3.125% 08/31/2027 99.3090 95.4340
MOODY'S RATING AAA
CUSIP 91282CFH9
3,450,000 UNITED STATES TREASURY NOTES 3,421,152.34 3,431,956.50 2.34 10,804.16 59,427.20
DTD 09/30/2022 4.125% 09/30/2027 99.1639 99.4770
MOODY'S RATING AAA
CUSIP 91282CFM8
850,000 UNITED STATES TREASURY NOTES 852,656.25 837,879.00 0.57 14,777.25- 8,234.38
DTD 11/30/2022 3.875% 11/30/2027 100.3125 98.5740
MOODY'S RATING AAA
CUSIP 91282CFZ9
2,750,000 UNITED STATES TREASURY NOTES 2,775,107.42 2,709,822.50 1.85 65,284.92- 17,662.29
DTD 12/31/2022 3.875% 12/31/2027 100.9130 98.5390
MOODY'S RATING AAA
CUSIP 91282CGC9
3,000,000 UNITED STATES TREASURY NOTES 2,957,929.69 2,908,830.00 1.98 49,099.69- 8,411.60
DTD 01/31/2023 3.500% 01/31/2028 98.5977 96.9610
MOODY'S RATING AAA
CUSIP 91282CGH8
1,035,000 UNITEDHEALTH GROUP INC 1,025,051.35 917,620.65 0.63 107,430.70- 3,504.62
DTD 05/19/21 1.150 05/15/2026 99.0388 88.6590
MOODY'S RATING A3
CUSIP 91324PEC2
675,000 UNITEDHEALTH GROUP INC 675,316.70 643,875.75 0.44 31,440.95- 7,353.75
DTD 05/20/2022 3.700% 05/15/2027 100.0469 95.3890
CALLABLE
MOODY'S RATING A3
CUSIP 91324PEG3
230
PAGE 17
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
1,250,000 US BANCORP 1,268,262.50 1,200,650.00 0.82 67,612.50- 2,583.33
DTD 07/29/19 2.400 07/30/2024 101.4610 96.0520
MOODY'S RATING A2
CUSIP 91159HHX1
1,500,000 US TREASURY NOTE 1,469,765.63 1,351,410.00 0.92 118,355.63-300.41
DTD 07/31/20 0.250 07/31/2025 97.9844 90.0940
MOODY'S RATING AAA
CUSIP 91282CAB7
2,400,000 US TREASURY NOTE 2,366,140.63 2,151,552.00 1.47 214,588.63- 2,505.49
DTD 09/30/20 0.250 09/30/2025 98.5892 89.6480
MOODY'S RATING AAA
CUSIP 91282CAM3
2,450,000 US TREASURY NOTE 2,422,492.19 2,187,972.50 1.49 234,519.69- 2,047.31
DTD 10/31/20 0.250 10/31/2025 98.8772 89.3050
MOODY'S RATING AAA
CUSIP 91282CAT8
2,250,000 US TREASURY NOTE 2,209,658.20 2,009,880.00 1.37 199,778.20- 2,109.38
DTD 11/30/20 0.375 11/30/2025 98.2070 89.3280
MOODY'S RATING AAA
CUSIP 91282CAZ4
2,500,000 US TREASURY NOTE 2,456,445.31 2,220,800.00 1.51 235,645.31-751.04
DTD 02/01/21 0.375 01/31/2026 98.2578 88.8320
MOODY'S RATING AAA
CUSIP 91282CBH3
1,450,000 US TREASURY NOTE 1,446,488.28 1,378,631.00 0.94 67,857.28- 1,672.31
DTD 03/15/21 0.250 03/15/2024 99.7578 95.0780
MOODY'S RATING AAA
CUSIP 91282CBR1
2,500,000 US TREASURY NOTE 2,493,652.34 2,228,625.00 1.52 265,027.34- 6,267.27
DTD 04/30/21 0.750 04/30/2026 99.7461 89.1450
MOODY'S RATING AAA
CUSIP 91282CBW0
231
PAGE 18
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
1,400,000 US TREASURY NOTE 1,379,054.68 1,238,454.00 0.84 140,600.68- 5,115.38
DTD 09/30/21 0.875 09/30/2026 98.5039 88.4610
MOODY'S RATING AAA
CUSIP 91282CCZ2
1,400,000 US TREASURY NOTE 1,391,468.75 1,247,092.00 0.85 144,376.75- 5,264.50
DTD 11/01/21 1.125 10/31/2026 99.3906 89.0780
CUSIP 91282CDG3
1,700,000 US TREASURY NOTE 1,753,191.41 1,635,927.00 1.11 117,264.41- 1,561.46
DTD 08/15/14 2.375 08/15/2024 103.1289 96.2310
MOODY'S RATING AAA
CUSIP 912828D56
2,000,000 US TREASURY NOTE 2,018,574.22 1,919,760.00 1.31 98,814.22- 6,629.83
DTD 06/30/17 2.000 06/30/2024 100.9287 95.9880
MOODY'S RATING AAA
CUSIP 912828XX3
1,700,000 US TREASURY NOTE 1,705,976.56 1,639,837.00 1.12 66,139.56- 11,364.64
DTD 05/01/17 2.000 04/30/2024 100.3516 96.4610
MOODY'S RATING AAA
CUSIP 912828X70
2,100,000 US TREASURY NOTE 2,087,203.13 1,985,823.00 1.35 101,380.13- 6,091.16
DTD 12/31/19 1.750 12/31/2024 99.3906 94.5630
CUSIP 912828YY0
1,500,000 US TREASURY NOTE 1,523,144.53 1,395,705.00 0.95 127,439.53-46.62
DTD 03/02/20 1.125 02/28/2025 101.5430 93.0470
MOODY'S RATING AAA
CUSIP 912828ZC7
2,500,000 US TREASURY NOTE 2,360,839.85 2,277,550.00 1.55 83,289.85- 3,133.63
DTD 04/30/20 0.375 04/30/2025 94.4336 91.1020
MOODY'S RATING AAA
CUSIP 912828ZL7
232
PAGE 19
STATEMENT OF ASSETS AND LIABILITIES CITY OF CUPERTINO
AS OF FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF ASSETS AND LIABILITIES
COST VALUE MARKET VALUE % TOTAL UNREALIZED
PAR VALUE/SHARES DESCRIPTION / UNIT COST / UNIT PRICE MARKET GAIN/LOSS ACCRUED INCOME
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
570,000 VERIZON MASTER TRUST 569,974.92 562,185.30 0.38 7,789.62-647.90
ASSET BCKD SEC SER 2022-5 CL A1A 99.9956 98.6290
DTD 08/11/2022 VAR CPN 07/20/2027
CALLABLE
CUSIP 92348KAV5
317,826.06 VERIZON OWNER TRUST 317,759.31 314,078.89 0.21 3,680.42-45.64
SER 2020-B CL A *0 DAY DELAY*99.9790 98.8210
DTD 08/12/20 0.470 02/20/2025
MOODY'S RATING AAA
CUSIP 92290BAA9
350,000 WALMART INC 349,338.50 307,419.00 0.21 41,919.50- 1,674.17
DTD 09/17/21 1.050 09/17/2026 99.8110 87.8340
MOODY'S RATING AA2
CUSIP 931142ER0
TOTAL BOND & NOTES 156,235,688.22 146,574,166.13 99.89 9,661,522.09- 528,610.79
======================================================================================================================================
TOTAL INVESTMENTS 156,391,276.44 146,729,754.35 100.00 9,661,522.09- 530,200.66
TOTAL ACCRUALS 530,200.66 530,200.66
======================================================================================================================================
TOTAL ACCRUALS AND INVESTMENTS 156,921,477.10 147,259,955.01
233
PAGE 20
CASH SUMMARY CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
CASH SUMMARY
DESCRIPTION PRINCIPAL CASH INCOME CASH
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
BEGINNING BALANCE 0.00 0.00
RECEIPTS
NET INTEREST COLLECTED 0.00 225,911.73
TRANSFER RECEIPTS 225,911.73 0.00
SALES 4,810,668.73 0.00
CASH MANAGEMENT SALES 2,071,971.69 0.00
TOTAL CASH RECEIPTS 7,108,552.15 225,911.73
DISBURSEMENTS
INVESTMENT MANAGEMENT EXPENSES 9,067.30-0.00
TRANSFER DISBURSEMENTS 0.00 225,911.73-
PURCHASES 5,042,917.97-0.00
CASH MANAGEMENT PURCHASES 2,056,566.88-0.00
TOTAL CASH DISBURSEMENTS 7,108,552.15-225,911.73-
ENDING BALANCE 0.00 0.00
________________________________________________________________________________________________________________________________________
234
PAGE 21
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
BEGINNING BALANCE 0.00 156,399,348.51
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
CASH EQUIVALENTS
02/01/23 INTEREST RECEIVED 922.71
AS 100% TREAS MM FD-SVC CL #008
INTEREST FROM 1/1/23 TO 1/31/23
02/01/23 INTEREST RECEIVED 32.66
PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM
INTEREST FROM 1/1/23 TO 1/31/23
02/28/23 2,056,534.22 CASH SWEEP PURCHASES FOR STMT PERIOD 2,056,534.22- 2,056,534.22
AS 100% TREAS MM FD-SVC CL #008
9 TRANSACTIONS
02/28/23 32.66 CASH SWEEP PURCHASES FOR STMT PERIOD 32.66-32.66
PRINCIPAL PUBLIC DEPOSIT SWEEP PRGRM
1 TRANSACTIONS
02/28/23 2,071,971.69- CASH SWEEP SALES FOR STMT PERIOD 2,071,971.69 2,071,971.69-
AS 100% TREAS MM FD-SVC CL #008
4 TRANSACTIONS
BONDS & NOTES
02/15/23 INTEREST RECEIVED 2,845.38
AMERICAN EXPRES ABS 2.210% 3/15/27
CUSIP 02589BAA8
$0.00184/PV ON 1,545,000.00 PV
DUE 2/15/23
02/15/23 INTEREST RECEIVED 3,884.38
AMERICAN EXPRESS ABS 3.390% 5/17/27
CUSIP 02582JJT8
$0.00283/PV ON 1,375,000.00 PV
DUE 2/15/23
235
PAGE 22
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/27/23 INTEREST RECEIVED 103.45
BMW VEHICLE LEASE TR 0.330% 12/26/24
CUSIP 09690AAC7
$0.00027/PV ON 376,184.66 PV
DUE 2/25/23
02/27/23 36,698.06- PAID DOWN 36,698.06 36,694.27-3.79
BMW VEHICLE LEASE TR 0.330% 12/26/24
CUSIP 09690AAC7
TO SETTLE ON 02/27/2023
02/27/23 INTEREST RECEIVED 412.50
BMW VEHICLE LEASE TR 1.100% 3/25/25
CUSIP 05601XAC3
$0.00092/PV ON 450,000.00 PV
DUE 2/25/23
02/27/23 INTEREST RECEIVED 1,417.75
BMW VEHICLE OWN ABS 3.210% 8/25/26
CUSIP 05602RAD3
$0.00268/PV ON 530,000.00 PV
DUE 2/25/23
02/24/23 1,500,000- SOLD 1,470,615.00 1,568,115.00-97,500.00-
FED HOME LN BK 3.250% 3/08/24
CUSIP 3130A0XE5
AT $98.0410 ON TRADE DATE 02/23/2023
TO SETTLE ON 02/24/2023
WACHOVIA CAPITAL MARKETS, LLC.
02/24/23 ACCRUED INTEREST ON SALE 22,479.17
FED HOME LN BK 3.250% 3/08/24
CUSIP 3130A0XE5
02/08/23 900,000- SOLD 865,782.00 899,109.00-33,327.00-
FED HOME LN MTG CORP 0.250% 12/04/23
CUSIP 3137EAFA2
AT $96.1980 ON TRADE DATE 02/07/2023
TO SETTLE ON 02/08/2023
PERSHING LLC
236
PAGE 23
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/08/23 ACCRUED INTEREST ON SALE 400.00
FED HOME LN MTG CORP 0.250% 12/04/23
CUSIP 3137EAFA2
02/13/23 INTEREST RECEIVED 17,737.50
FED HOME LN MTG CORP 1.500% 2/12/25
CUSIP 3137EAEP0
INTEREST ON 2,365,000.000 UNITS
02/27/23 INTEREST RECEIVED 3,435.25
FED HOME LN MTG CORP 3.171% 10/25/24
CUSIP 3137BFE98
$0.00264/PV ON 1,300,000.00 PV
DUE 2/25/23
02/27/23 INTEREST RECEIVED 4,687.50
FED NATL MTG ASSN 0.375% 8/25/25
CUSIP 3135G05X7
INTEREST ON 2,500,000.000 UNITS
02/27/23 INTEREST RECEIVED 1,437.04
FHLMC MULTIFAMILY ST 2.653% 8/25/26
CUSIP 3137BSP72
$0.00221/PV ON 650,000.00 PV
DUE 2/25/23
02/27/23 INTEREST RECEIVED 1,422.62
FHLMC MULTIFAMILY ST 2.995% 12/25/25
CUSIP 3137BN6G4
$0.00250/PV ON 570,000.00 PV
DUE 2/25/23
02/27/23 INTEREST RECEIVED 2,508.33
FHLMC MULTIFAMILY ST 3.010% 8/25/25
CUSIP 3137BLMZ8
$0.00251/PV ON 1,000,000.00 PV
DUE 2/25/23
237
PAGE 24
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/27/23 INTEREST RECEIVED 2,703.33
FHLMC MULTIFAMILY ST 3.244% 8/25/27
CUSIP 3137FBBX3
$0.00270/PV ON 1,000,000.00 PV
DUE 2/25/23
02/27/23 INTEREST RECEIVED 1,212.93
FHLMC MULTIFAMILY ST 3.308% 9/25/25
CUSIP 3137BM7C4
$0.00276/PV ON 440,000.00 PV
DUE 2/25/23
02/16/23 INTEREST RECEIVED 1,007.50
GM FINANCIAL ABS 3.100% 2/16/27
CUSIP 362585AC5
$0.00258/PV ON 390,000.00 PV
DUE 2/16/23
02/21/23 INTEREST RECEIVED 313.63
GM FINANCIAL AUTOMOB 0.390% 10/21/24
CUSIP 36262XAC8
$0.00032/PV ON 965,000.00 PV
DUE 2/20/23
02/21/23 10,014.26- PAID DOWN 10,014.26 10,014.12-0.14
GM FINANCIAL AUTOMOB 0.390% 10/21/24
CUSIP 36262XAC8
TO SETTLE ON 02/21/2023
02/21/23 INTEREST RECEIVED 1,496.25
GM FINANCIAL AUTOMOB 1.850% 3/20/25
CUSIP 36265MAC9
$0.00158/PV ON 945,000.00 PV
DUE 2/20/23
238
PAGE 25
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/16/23 INTEREST RECEIVED 198.33
GM FINANCIAL SECURIT 0.680% 9/16/26
CUSIP 362554AC1
$0.00057/PV ON 350,000.00 PV
DUE 2/16/23
02/16/23 INTEREST RECEIVED 309.75
GM FINANCIAL SECURIT 1.260% 11/16/26
CUSIP 380146AC4
$0.00105/PV ON 295,000.00 PV
DUE 2/16/23
02/21/23 INTEREST RECEIVED 43.08
HONDA AUTO RECEIVABL 0.270% 4/21/25
CUSIP 43813GAC5
$0.00023/PV ON 191,446.33 PV
DUE 2/21/23
02/21/23 15,126.4- PAID DOWN 15,126.40 15,126.12-0.28
HONDA AUTO RECEIVABL 0.270% 4/21/25
CUSIP 43813GAC5
02/21/23 INTEREST RECEIVED 80.13
HONDA AUTO RECEIVABL 0.370% 10/18/24
CUSIP 43813KAC6
$0.00031/PV ON 259,883.67 PV
DUE 2/18/23
02/21/23 27,446.34- PAID DOWN 27,446.34 27,442.31-4.03
HONDA AUTO RECEIVABL 0.370% 10/18/24
CUSIP 43813KAC6
TO SETTLE ON 02/21/2023
02/15/23 INTEREST RECEIVED 32.94
HONDA AUTO RECEIVABL 0.820% 7/15/24
CUSIP 43813DAC2
$0.00068/PV ON 48,206.24 PV
DUE 2/15/23
239
PAGE 26
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/15/23 6,888.75- PAID DOWN 6,888.75 6,888.21-0.54
HONDA AUTO RECEIVABL 0.820% 7/15/24
CUSIP 43813DAC2
02/21/23 INTEREST RECEIVED 337.33
HONDA AUTO RECEIVABL 0.880% 1/21/26
CUSIP 43815GAC3
$0.00073/PV ON 460,000.00 PV
DUE 2/21/23
02/15/23 INTEREST RECEIVED 1,159.33
HONDA AUTO RECEIVABL 1.000% 5/15/26
CUSIP 43815BAC4
$0.00157/PV ON 740,000.00 PV
DUE 2/15/23
02/15/23 INTEREST RECEIVED 196.17
HYUNDAI AUTO LEASE 0.330% 6/17/24
CUSIP 44891VAC5
$0.00027/PV ON 713,351.18 PV
DUE 2/15/23
02/15/23 86,894.67- PAID DOWN 86,894.67 86,881.64-13.03
HYUNDAI AUTO LEASE 0.330% 6/17/24
CUSIP 44891VAC5
02/15/23 INTEREST RECEIVED 522.00
HYUNDAI AUTO LEASE 1.160% 1/15/25
CUSIP 44891WAC3
$0.00097/PV ON 540,000.00 PV
DUE 2/15/23
02/15/23 INTEREST RECEIVED 1,868.50
HYUNDAI AUTO REC ABS 2.220% 10/15/26
CUSIP 448977AD0
$0.00185/PV ON 1,010,000.00 PV
DUE 2/15/23
240
PAGE 27
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/15/23 INTEREST RECEIVED 142.93
HYUNDAI AUTO RECEIVA 0.380% 9/15/25
CUSIP 44933LAC7
$0.00032/PV ON 451,348.32 PV
DUE 2/15/23
02/15/23 30,209.37- PAID DOWN 30,209.37 30,206.19-3.18
HYUNDAI AUTO RECEIVA 0.380% 9/15/25
CUSIP 44933LAC7
02/15/23 INTEREST RECEIVED 820.17
HYUNDAI AUTO RECEIVA 0.740% 5/15/26
CUSIP 44935FAD6
$0.00062/PV ON 1,330,000.00 PV
DUE 2/15/23
02/15/23 INTEREST RECEIVED 4,453.75
JOHN DEERE OWNE ABS 5.090% 6/15/27
CUSIP 47800BAC2
$0.00424/PV ON 1,050,000.00 PV
DUE 2/15/23
02/15/23 INTEREST RECEIVED 870.00
JOHN DEERE OWNER ABS 2.320% 9/16/26
CUSIP 47787JAC2
$0.00193/PV ON 450,000.00 PV
DUE 2/15/23
02/15/23 INTEREST RECEIVED 2,041.42
JOHN DEERE OWNER ABS 3.740% 2/16/27
CUSIP 47800AAC4
$0.00312/PV ON 655,000.00 PV
DUE 2/15/23
02/15/23 INTEREST RECEIVED 37.15
JOHN DEERE OWNER TRU 0.510% 11/15/24
CUSIP 47787NAC3
$0.00042/PV ON 87,422.64 PV
DUE 2/15/23
241
PAGE 28
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/15/23 17,266.46- PAID DOWN 17,266.46 17,263.83-2.63
JOHN DEERE OWNER TRU 0.510% 11/15/24
CUSIP 47787NAC3
02/15/23 INTEREST RECEIVED 251.33
JOHN DEERE OWNER TRU 0.520% 3/16/26
CUSIP 47789QAC4
$0.00043/PV ON 580,000.00 PV
DUE 2/15/23
02/15/23 INTEREST RECEIVED 45.29
JOHN DEERE OWNER TRU 1.100% 8/15/24
CUSIP 47789KAC7
$0.00092/PV ON 49,408.28 PV
DUE 2/15/23
02/15/23 11,800.27- PAID DOWN 11,800.27 11,799.55-0.72
JOHN DEERE OWNER TRU 1.100% 8/15/24
CUSIP 47789KAC7
02/15/23 INTEREST RECEIVED 5.52
MERCEDES-BENZ AUTO 0.400% 11/15/23
CUSIP 58769EAC2
$0.00033/PV ON 16,551.04 PV
DUE 2/15/23
02/15/23 16,551.04- PAID DOWN 16,551.04 16,550.20-0.84
MERCEDES-BENZ AUTO 0.400% 11/15/23
CUSIP 58769EAC2
02/15/23 INTEREST RECEIVED 190.96
NISSAN AUTO RECEIVAB 1.930% 7/15/24
CUSIP 65479JAD5
$0.00161/PV ON 118,729.00 PV
DUE 2/15/23
242
PAGE 29
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/15/23 43,954.88- PAID DOWN 43,954.88 44,172.93-218.05-
NISSAN AUTO RECEIVAB 1.930% 7/15/24
CUSIP 65479JAD5
02/09/23 INTEREST RECEIVED 1,700.00
PACCAR FINANCIAL COR 0.500% 8/09/24
CUSIP 69371RR40
INTEREST ON 680,000.000 UNITS
02/15/23 INTEREST RECEIVED 3,977.50
PACCAR FINANCIAL COR 2.150% 8/15/24
CUSIP 69371RQ25
INTEREST ON 370,000.000 UNITS
02/15/23 INTEREST RECEIVED 150.78
TOYOTA AUTO RECEIVAB 0.260% 5/15/25
CUSIP 89240BAC2
$0.00022/PV ON 695,916.59 PV
DUE 2/15/23
02/15/23 54,236.27- PAID DOWN 54,236.27 54,226.20-10.07
TOYOTA AUTO RECEIVAB 0.260% 5/15/25
CUSIP 89240BAC2
02/15/23 INTEREST RECEIVED 56.62
TOYOTA AUTO RECEIVAB 0.350% 1/15/25
CUSIP 89236XAC0
$0.00029/PV ON 194,135.56 PV
DUE 2/15/23
02/15/23 21,875.47- PAID DOWN 21,875.47 21,871.39-4.08
TOYOTA AUTO RECEIVAB 0.350% 1/15/25
CUSIP 89236XAC0
02/15/23 INTEREST RECEIVED 254.42
TOYOTA AUTO RECEIVAB 0.710% 4/15/26
CUSIP 89238JAC9
$0.00059/PV ON 430,000.00 PV
DUE 2/15/23
243
PAGE 30
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/21/23 INTEREST RECEIVED 1,878.33
TOYOTA LEASE OWN ABS 1.960% 2/20/25
CUSIP 89238LAC4
$0.00163/PV ON 1,150,000.00 PV
DUE 2/20/23
02/21/23 INTEREST RECEIVED 156.35
TOYOTA LEASE OWNER 0.390% 4/22/24
CUSIP 89238EAC0
$0.00033/PV ON 481,084.45 PV
DUE 2/20/23
02/21/23 74,109.21- PAID DOWN 74,109.21 72,627.03-1,482.18
TOYOTA LEASE OWNER 0.390% 4/22/24
CUSIP 89238EAC0
TO SETTLE ON 02/21/2023
02/28/23 INTEREST RECEIVED 70,312.50
U.S. TREASURY NOTES 3.125% 8/31/27
CUSIP 91282CFH9
INTEREST ON 4,500,000.000 UNITS
02/08/23 3,000,000 PURCHASED 2,957,929.69- 2,957,929.69
U.S. TREASURY NOTES 3.500% 1/31/28
CUSIP 91282CGH8
AT $98.5977 ON TRADE DATE 02/07/2023
TO SETTLE ON 02/08/2023
CITADEL DERIVATIVES GROUP LLC
02/08/23 ACCRUED INTEREST ON PURCHASE 2,320.44-
U.S. TREASURY NOTES 3.500% 1/31/28
CUSIP 91282CGH8
02/28/23 2,100,000 PURCHASED 2,084,988.28- 2,084,988.28
U.S. TREASURY NOTES 4.000% 2/29/28
CUSIP 91282CGP0
AT $99.2852 ON TRADE DATE 02/23/2023
TO SETTLE ON 02/28/2023
J.P. MORGAN SECURITIES INC., -
244
PAGE 31
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/28/23 INTEREST RECEIVED 8,437.50
US TREASURY NOTE 1.125% 2/28/25
CUSIP 912828ZC7
INTEREST ON 1,500,000.000 UNITS
02/15/23 INTEREST RECEIVED 20,187.50
US TREASURY NOTE 2.375% 8/15/24
CUSIP 912828D56
INTEREST ON 1,700,000.000 UNITS
02/08/23 2,000,000- SOLD 1,958,203.13 2,053,613.28-95,410.15-
US TREASURY NOTE 2.750% 2/15/24
CUSIP 912828B66
AT $97.9102 ON TRADE DATE 02/07/2023
TO SETTLE ON 02/08/2023
WACHOVIA CAPITAL MARKETS, LLC.
02/08/23 ACCRUED INTEREST ON SALE 26,453.80
US TREASURY NOTE 2.750% 2/15/24
CUSIP 912828B66
02/21/23 INTEREST RECEIVED 1,767.00
VERIZON MAST ABS V-M 3.720% 7/20/27
CUSIP 92348KAV5
$0.00310/PV ON 570,000.00 PV
DUE 2/20/23
02/21/23 INTEREST RECEIVED 149.05
VERIZON OWNER TRUST 0.470% 2/20/25
CUSIP 92290BAA9
$0.00039/PV ON 380,548.91 PV
DUE 2/20/23
02/21/23 62,722.85- PAID DOWN 62,722.85 62,709.68-13.17
VERIZON OWNER TRUST 0.470% 2/20/25
CUSIP 92290BAA9
TO SETTLE ON 02/21/2023
245
PAGE 32
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/21/23 INTEREST RECEIVED 0.44
VERIZON OWNER TRUST 1.940% 4/22/24
CUSIP 92348AAA3
$0.00162/PV ON 274.30 PV
DUE 2/20/23
02/21/23 274.3- PAID DOWN 274.30 274.28-0.02
VERIZON OWNER TRUST 1.940% 4/22/24
CUSIP 92348AAA3
TO SETTLE ON 02/21/2023
02/13/23 INTEREST RECEIVED 6,045.00
VR BANK OF AMERICA 2.015% 2/13/26
CUSIP 06051GHY8
INTEREST ON 600,000.000 UNITS
02/27/23 INTEREST RECEIVED 2,639.42
VR FHLMC MULTIFAMI 3.334% 8/25/25
CUSIP 3137BLW95
$0.00278/PV ON 950,000.00 PV
DUE 2/25/23
TRANSFER RECEIPTS
02/01/23 ADDITION TO ACCOUNT 955.37
TRANSFER FROM INCOME
02/08/23 ADDITION TO ACCOUNT 24,533.36
TRANSFER FROM INCOME
02/09/23 ADDITION TO ACCOUNT 1,700.00
TRANSFER FROM INCOME
02/13/23 ADDITION TO ACCOUNT 23,782.50
TRANSFER FROM INCOME
246
PAGE 33
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/15/23 ADDITION TO ACCOUNT 43,792.35
TRANSFER FROM INCOME
02/16/23 ADDITION TO ACCOUNT 1,717.27
TRANSFER FROM INCOME
02/21/23 ADDITION TO ACCOUNT 6,221.59
TRANSFER FROM INCOME
02/24/23 ADDITION TO ACCOUNT 22,479.17
TRANSFER FROM INCOME
02/27/23 ADDITION TO ACCOUNT 4,687.50
TRANSFER FROM INCOME
02/28/23 ADDITION TO ACCOUNT 96,042.62
TRANSFER FROM INCOME
INVESTMENT MANAGEMENT EXPENSES
02/07/23 INVESTMENT MGMT FEE 9,067.30-
PAID TO CHANDLER ASSET MANAGEMENT INC
INV# 2301CUPERTIN CHANDLER ASSET
MGMT FEE 2/6/23
TRANSFER DISBURSEMENTS
02/01/23 TRANSFER TO PRINCIPAL 955.37-
02/08/23 TRANSFER TO PRINCIPAL 24,533.36-
02/09/23 TRANSFER TO PRINCIPAL 1,700.00-
02/13/23 TRANSFER TO PRINCIPAL 23,782.50-
247
INVESTMENT AND INSURANCE PRODUCTS ARE:
·NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) OR ANY FEDERAL GOVERNMENT AGENCY
·NOT A DEPOSIT, OBLIGATION OF, OR GUARANTEED BY ANY BANK OR BANKING AFFILIATE
·SUBJECT TO INVESTMENT RISKS AND MAY LOSE VALUE, INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED
PAGE 34
STATEMENT OF TRANSACTIONS CITY OF CUPERTINO
FOR THE PERIOD FEBRUARY 1, 2023 THROUGH FEBRUARY 28, 2023 ACCOUNT NUMBER
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯
STATEMENT OF TRANSACTIONS
REALIZED
DATE PAR VALUE/SHARES DESCRIPTION CASH COST VALUE GAIN/LOSS
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
02/15/23 TRANSFER TO PRINCIPAL 43,792.35-
02/16/23 TRANSFER TO PRINCIPAL 1,717.27-
02/21/23 TRANSFER TO PRINCIPAL 6,221.59-
02/24/23 TRANSFER TO PRINCIPAL 22,479.17-
02/27/23 TRANSFER TO PRINCIPAL 4,687.50-
02/28/23 TRANSFER TO PRINCIPAL 96,042.62-
=================================================================================================================
ENDING BALANCE 0.00 156,391,276.44
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
248
CITY OF CUPERTINO
PARS Post-Employment Benefits Trust 2/1/2023 to 2/28/2023
Kristina Alfaro
Director of Administrative Services
City of Cupertino
10300 Torre Ave.
Cupertino, CA 95014
Account Summary
Source 2/1/2023 Contributions Earnings Expenses Distributions Transfers 2/28/2023
OPEB 1001 $33,651,241.02 $0.00 -$848,358.81 $9,880.22 $0.00 $0.00 $32,793,001.99
PENSION 1002 $18,507,646.57 $0.00 -$466,577.57 $5,433.94 $0.00 $0.00 $18,035,635.06
Totals $52,158,887.59 $0.00 -$1,314,936.38 $15,314.16 $0.00 $0.00 $50,828,637.05
Investment Selection
Source
OPEB
PENSION
Investment Objective
Source
OPEB
PENSION
Investment Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years
OPEB -2.52%-0.02%-8.32%3.86%3.64%5.29%6/21/2010
PENSION -2.52%-0.02%-8.31%5.09%--3/26/2019
Information as provided by US Bank, Trustee for PARS; Not FDIC Insured; No Bank Guarantee; May Lose Value
Headquarters - 4350 Von Karman Ave., Suite 100, Newport Beach, CA 92660 800.540.6369 Fax 949.250.1250 www.pars.org
Balance as of
Individual account based on US Bank Balanced MM. Dual goals are to provide a moderate amount of current income with moderate capital growth.
Income production and longer term growth of capital.
City of Cupertino - PEN
Plan's Inception Date
Account balances are inclusive of Trust Administration, Trustee and Investment Management fees
Annualized Return
Investment Return: Annualized rate of return is the return on an investment over a period other than one year multiplied or divided to give a comparable one-year return.
Past performance does not guarantee future results. Performance returns may not reflect the deduction of applicable fees, which could reduce returns. Information is deemed reliable but may be subject to change.
Individual account based on US Bank Balanced MM. Dual goals are to provide a moderate amount of current income with moderate capital growth.
Income production and longer term growth of capital.
Account Report for the Period
Balance as of
City of Cupertino - OPEB
249
3/2/23, 8:54 AM LAIF Regular Monthly Statement
https://laifms.treasurer.ca.gov/RegularStatement.aspx 1/1
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
March 02, 2023
LAIF Home
PMIA Average Monthly
Yields
CITY OF CUPERTINO
FINANCE MANAGER
10300 TORRE AVENUE
CUPERTINO, CA 95014
Account Number:
February 2023 Statement
Tran Type Definitions
Account Summary
Total Deposit:0.00 Beginning Balance:21,281,569.38
Total Withdrawal 0 00 Ending Balance 21,281,569.38
250
CITY OF CUPERTINO
Agenda Item
23-12176 Agenda Date: 3/27/2023
Agenda #: 4.
ACTION ITEM Subject: Consider the Monthly Treasurer's Report for February 2023
Receive the Monthly Treasurer's Report for February 2023 and recommend filing with City
Council
Presenter: Thomas Leung, Budget Manager
5:15(10)
CITY OF CUPERTINO Printed on 3/24/2023Page 1 of 1
powered by Legistar™251
1
AUDIT COMMITTEE STAFF REPORT
Meeting: March 27, 2023
Subject
Consider the Monthly Treasurer's Report for February 2023
Recommended Action
Receive the Monthly Treasurer's Report for February 2023 and recommend filing with
City Council
Reasons for Recommendation
Background
California Government Code Section 41004 states:
Regularly, at least once each month, the city treasurer shall submit to the city clerk
a written report and accounting of all receipts, disbursements, and fund balances.
The city treasurer shall file a copy with the legislative body.
The City's Municipal Code Section 2.24.030 Monthly Reports states:
The Treasurer shall make monthly reports which conform to the requirements of
Government Code Section 41004. Said reports shall be delivered to the City
Council, the City Manager and made available for review by such other persons
who may so request.
Lastly, the City's Municipal Code Section 2.88.100 Duties–Powers–Responsibilities lists
one of the powers and functions of the Audit Committee is "to review the monthly
Treasurer's report."
Per the referenced code provisions, a Treasurer's Report (report and accounting of all
receipts, disbursements, and fund balances) shall be submitted to the Audit Committee
and City Council every month.
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2
Cash vs. Accrual Basis Accounting
Cash basis accounting and accrual basis accounting differ in the way revenues and
expenses are recognized and recorded, primarily with regard to their timing.
Under cash basis accounting, revenues are recorded when payment is received, and
expenses are recorded when payment is made. This method of accounting recognizes
transactions only when cash changes hands. In contrast, accrual basis accounting
recognizes revenues when they are earned (but not necessarily received) and expenses
when they are incurred (but not necessarily paid). This method of accounting recognizes
transactions as they occur, regardless of whether cash has been exchanged.
Receipts, disbursements, and cash balance are measured on a cash basis. The cash balance
shows the total cash and investments in the City's accounts. The ending balance is the
beginning balance plus receipts minus disbursements. Journal adjustments generally
include transactions recorded in other systems and imported into New World, Council-
approved budget adjustments, quarterly Cost Allocation Plan (CAP) charges, and
quarterly interest earnings.
Revenues, expenditures, and fund balance are measured on an accrual basis. As a result,
the amount in fund balance does not mean the City has that much cash on hand. Instead,
fund balance is the difference between assets and liabilities. The ending balance is the
beginning balance plus revenues minus expenditures.
Treasurer's Report
The report provides an update on the City's cash and fund balances for February 2023.
The report is as of March 22, 2023.
Receipts, Disbursements, and Cash Balance
The City's General Fund ending cash and investment balance was $121.3 million,
decreasing by $2.8 million from the prior month. Receipts were $2.3 million,
disbursements were $(5.1) million, and journal adjustments were $50,848 for the month.
The City's total ending cash and investment balance was $227.0 million, decreasing by
$3.0 million from the prior month. Receipts were $3.0 million, disbursements were $(6.7)
million, and journal adjustments were $0.6 million for the month.
Journal adjustments included the following:
Parks and Recreation transactions imported from Active Network into New World
Workers’ Compensation transactions
Fund Balance/Net Position
The City's General Fund ending fund balance was $106.5 million, decreasing by $2.7
million from the prior month due to revenues of $2.2 million and expenditures of $4.8
million.
253
3
The City's total ending fund balance was $206.6 million, decreasing by $3.4 million from
the prior month due to revenues of $2.9 million and expenditures of $6.3 million.
Sustainability Impact
No sustainability impact.
Fiscal Impact
No fiscal impact.
California Environmental Quality Act
Not applicable.
_____________________________________
Prepared by: __________________
Thomas Leung
Budget Manager
Reviewed by: __________________
Kristina Alfaro
Director of Administrative Services
Approved for Submission by: __________________
Pamela Wu
City Manager
Attachments:
A – Report of City-wide Receipts, Disbursements, and Cash Balances February 2023
B – Report of City‐wide Fund Balances/Net Position February 2023
C – Weekly Payment Register for the Period Ending February 3, 2023
D – Weekly Payment Register for the Period Ending February 10, 2023
E – Weekly Payment Register for the Period Ending February 17, 2023
F – Weekly Payment Register for the Period Ending February 24, 2023
G – Weekly Payment Register for the Period Ending March 3, 2023
254
February 2023 Report of City‐wide Receipts, Disbursements, and Cash Balances
Cash and Investments
Beginning Balance Ending Balance
Fund Type Fund Number/Name as of January 31, 2023 Receipts Disbursements Journal Adjustments as of February 28, 2023
General Fund 100 General Fund 124,055,314 2,257,903 (5,088,916) 50,848 121,275,149
General Fund 130 Investment Fund 189,996 ‐ ‐ ‐ 189,996
Special Revenue Funds 210 Storm Drain Improvement 2,159,495 ‐ (3,132) ‐ 2,156,363
Special Revenue Funds 215 Storm Drain AB1600 1,830,919 4,558 ‐ ‐ 1,835,477
Special Revenue Funds 230 Env Mgmt Cln Crk Strm Drain 1,230,857 30,628 (120,948) ‐ 1,140,537
Special Revenue Funds 260 CDBG 638,758 ‐ (32,433) ‐ 606,325
Special Revenue Funds 261 HCD Loan Rehab 222,300 ‐ ‐ ‐ 222,300
Special Revenue Funds 265 BMR Housing 5,529,188 6,000 (37,267) ‐ 5,497,920
Special Revenue Funds 270 Transportation Fund 11,742,901 111,177 (262,443) ‐ 11,591,636
Special Revenue Funds 271 Traffic Impact 763,167 ‐ ‐ ‐ 763,167
Special Revenue Funds 280 Park Dedication 19,750,770 ‐ (12,340) ‐ 19,738,430
Special Revenue Funds 281 Tree Fund 73,077 962 ‐ ‐ 74,039
Debt Service Funds 365 Public Facilities Corp 2,322,250 ‐ ‐ ‐ 2,322,250
Capital Project Funds 420 Capital Improvement Fund 26,932,708 462,480 (287,064) ‐ 27,108,125
Capital Project Funds 427 Stevens Creek Corridor Park 161,884 ‐ (1,245) ‐ 160,639
Capital Project Funds 429 Capital Reserve* 11,637,046 ‐ ‐ ‐ 11,637,046
Enterprise Funds 520 Resource Recovery 5,588,112 119,834 (149,983) ‐ 5,557,963
Enterprise Funds 560 Blackberry Farm 1,101,906 698 (44,796) 31,143 1,088,951
Enterprise Funds 570 Sports Center 1,726,402 ‐ (98,483) 343,946 1,971,864
Enterprise Funds 580 Recreation Program 3,312,233 38,181 (51,576) 226,530 3,525,369
Internal Service Funds 610 Innovation & Technology 3,880,335 ‐ (326,384) ‐ 3,553,950
Internal Service Funds 620 Workersʹ Compensation 3,750,513 ‐ (3,370) (8,417) 3,738,725
Internal Service Funds 630 Vehicle/Equip Replacement 1,159,400 ‐ (62,705) ‐ 1,096,695
Internal Service Funds 641 Compensated Absence/LTD 1,039,922 ‐ 795 ‐ 1,040,717
Internal Service Funds 642 Retiree Medical (778,819) ‐ (118,580) ‐ (897,399)
Total 230,020,633$ 3,032,422$ (6,700,870)$ 644,050$ 226,996,235$
* For reporting purposes, this fund rolls up/combines with Fund 420
Printed March 22, 2023
For more information on funds, please see cupertino.org/fund‐structure
25
5
February 2023 Report of City‐wide Fund Balances/Net Position
Beginning Fund Balance Ending Fund Balance
Fund Type Fund Number/Name as of January 31, 2022 Revenues Expenditures as of February 28, 2023
General Fund 100 General Fund 109,126,018 2,167,441 4,833,947 106,459,513
General Fund 130 Investment Fund 229,425 ‐ ‐ 229,425
Special Revenue Funds 210 Storm Drain Improvement 2,159,420 ‐ 3,057 2,156,363
Special Revenue Funds 215 Storm Drain AB1600 1,830,919 4,558 ‐ 1,835,477
Special Revenue Funds 230 Env Mgmt Cln Crk Strm Drain 1,218,558 51,350 97,449 1,172,458
Special Revenue Funds 260 CDBG 1,164,236 ‐ 32,433 1,131,803
Special Revenue Funds 261 HCD Loan Rehab 222,300 ‐ ‐ 222,300
Special Revenue Funds 265 BMR Housing 5,527,823 6,000 36,103 5,497,720
Special Revenue Funds 270 Transportation Fund 11,742,286 110,890 270,410 11,582,766
Special Revenue Funds 271 Traffic Impact 763,167 ‐ ‐ 763,167
Special Revenue Funds 280 Park Dedication 19,750,770 ‐ 12,340 19,738,430
Special Revenue Funds 281 Tree Fund 73,077 962 ‐ 74,039
Debt Service Funds 365 Public Facilities Corp 2,322,250 ‐ ‐ 2,322,250
Capital Project Funds 420 Capital Improvement Fund 24,336,425 ‐ 337,353 23,999,072
Capital Project Funds 427 Stevens Creek Corridor Park 161,884 ‐ 1,245 160,639
Capital Project Funds 429 Capital Reserve* 11,637,046 ‐ ‐ 11,637,046
Enterprise Funds 520 Resource Recovery 4,638,195 119,834 67,311 4,690,718
Enterprise Funds 560 Blackberry Farm 808,869 35,841 80,264 764,446
Enterprise Funds 570 Sports Center 2,090,659 236,674 73,825 2,253,508
Enterprise Funds 580 Recreation Program 2,957,559 140,433 67,913 3,030,080
Internal Service Funds 610 Innovation & Technology 2,528,710 ‐ 203,118 2,325,592
Internal Service Funds 620 Workersʹ Compensation 2,121,317 ‐ 11,787 2,109,529
Internal Service Funds 630 Vehicle/Equip Replacement 2,372,741 ‐ 61,779 2,310,962
Internal Service Funds 641 Compensated Absence/LTD 1,039,922 8,851 8,056 1,040,717
Internal Service Funds 642 Retiree Medical (778,819) ‐ 118,580 (897,399)
Total 210,044,756$ 2,882,836$ 6,316,971$ 206,610,621$
* For reporting purposes, this fund rolls up/combines with Fund 420
Printed March 22, 2023
For more information on funds, please see cupertino.org/fund‐structure
25
6
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Main Account - Main Checking Account
Check
731890 02/03/2023 Open Accounts Payable ALHAMBRA $136.79
Invoice Date Description Amount
21589707 011923 01/19/2023 Service Center - Employee Drinking Water $19.47
4984729 012123 01/21/2023 Employee Drinking Water for QCC & Senior Center $117.32
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$136.79
731891 02/03/2023 Open Accounts Payable Anagha Kulkarni $140.00
Invoice Date Description Amount
012223 AK 01/22/2023 January Fitness classes $140.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$140.00
731892 02/03/2023 Open Accounts Payable Aquatic Central $3,000.00
Invoice Date Description Amount
100004 01/15/2023 Facililties - Jan 2023 Library Aquarium Maint.$3,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,000.00
731893 02/03/2023 Open Accounts Payable AT&T $3,168.85
Invoice Date Description Amount
000019338117 01/12/2023 911 Telephone lines - 12/12/2022 - 01/11/2023 $176.53
000019328527 01/10/2023 9391051384 12/10/22-1/9/23 $2,992.32
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,872.63
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$119.69
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$176.53
731894 02/03/2023 Open Accounts Payable Automatic Door Systems, Inc.$511.25
Invoice Date Description Amount
54572 01/11/2023 Facilities - Senior Center Front Entrance DBL Slider $511.25
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$511.25
731895 02/03/2023 Open Accounts Payable Bay Area Self Storage - Cupertino $678.00
Invoice Date Description Amount
22478 01/17/2023 Facilities - Feb 2023 Storage Fees $678.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$678.00
731896 02/03/2023 Open Accounts Payable CALIFORNIA WATER SERVICE $4,614.04
Invoice Date Description Amount
3333-012623 01/26/2023 5926633333 12/17/22-1/19/23 $4,614.04
Paying Fund Cash Account Amount
Monday, February 06, 2023Pages: 1 of 16user: Vi Tran
Payment Register
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From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
257
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,614.04
731897 02/03/2023 Open Accounts Payable CenturyLink $76.32
Invoice Date Description Amount
047R -120722 12/07/2022 Emergency Out of Area Phone line $38.16
047R-010723 01/07/2023 Emergency Out of Area Phone line $38.16
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$76.32
731898 02/03/2023 Open Accounts Payable Christopher Jensen $226.75
Invoice Date Description Amount
01.27.2023 01/27/2023 Reimbursement, League of Cities 01.27.23 $226.75
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$226.75
731899 02/03/2023 Open Accounts Payable County of Santa Clara -Office of the
Sheriff
$70.00
Invoice Date Description Amount
1800084247 01/11/2023 LIVE SCAN DEC 22 $70.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$70.00
731900 02/03/2023 Open Accounts Payable David L. Gates and Associates, Inc.$37,233.87
Invoice Date Description Amount
56305 12/31/2022 Memorial Park Specific Plan through 12312022 $37,233.87
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$37,233.87
731901 02/03/2023 Open Accounts Payable Grassroots Ecology $18,502.00
Invoice Date Description Amount
CUST1222 12/31/2022 qtrly pmt for McClellan Ranch Habitat restoration
project
$18,502.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$18,502.00
731902 02/03/2023 Open Accounts Payable HARRY L. MURPHY, INC.$56,640.00
Invoice Date Description Amount
26378 01/24/2023 Facilities - City Hall Basement Carpet $56,640.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$56,640.00
731903 02/03/2023 Open Accounts Payable HNTB CORPORATION $12,722.50
Invoice Date Description Amount
2-81738-DS-001 01/20/2023 Don Burnett Bicycle Footbridge Inspection $12,722.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$12,722.50
Monday, February 06, 2023Pages: 2 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
258
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
731904 02/03/2023 Open Accounts Payable HUICHEN LIN $468.00
Invoice Date Description Amount
012223 HL 01/22/2023 January Fitness classes $468.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$468.00
731905 02/03/2023 Open Accounts Payable HY FLOOR & GAMELINE PAINTING,
INC.
$34,788.05
Invoice Date Description Amount
22250-01 01/13/2023 Facilities - Sports Center Racquetball Court Refinishing $16,320.05
22249-01 01/06/2023 Facilities - QCC Stage Floor Refinishing $18,468.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$18,468.00
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$16,320.05
731906 02/03/2023 Open Accounts Payable IRON MOUNTAIN $3,935.46
Invoice Date Description Amount
HGMJ760 01/31/2023 City Clerk Office Storage - 02/01/2023 - 02/28/2023 $3,935.46
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,935.46
731907 02/03/2023 Open Accounts Payable LISA EGERT-SMITH $50.00
Invoice Date Description Amount
02082023 02/01/2023 February BDB Entertainment Performance $50.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$50.00
731908 02/03/2023 Open Accounts Payable Matthew G Silva Photography $822.00
Invoice Date Description Amount
102997-000186 01/17/2023 Photography of CC and CM $822.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$822.00
731909 02/03/2023 Open Accounts Payable NAPA AUTO PARTS $53.37
Invoice Date Description Amount
785214 09/02/2022 Fleet - Lift Sup $53.37
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$53.37
731910 02/03/2023 Open Accounts Payable Napa Auto Parts $56.44
Invoice Date Description Amount
688431 12/12/2022 Fleet - Switch - Combination $56.44
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$56.44
Monday, February 06, 2023Pages: 3 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
259
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
731911 02/03/2023 Open Accounts Payable Napa County Landmarks, Inc.$100.00
Invoice Date Description Amount
158 01/27/2023 Deposit for Riverfront Captains & Mansions Trip
04/04/2023
$100.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$100.00
731912 02/03/2023 Open Accounts Payable Occupational Health Centers of
California, A Medi
$64.00
Invoice Date Description Amount
77712599 12/19/2022 TB Test- A. Singhal, M. Lam $64.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$64.00
731913 02/03/2023 Open Accounts Payable Opera San Jose $410.00
Invoice Date Description Amount
01252023 01/24/2023 Senior Trip - Verdi's Falstaff 02/09/2023 $410.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$410.00
731914 02/03/2023 Open Accounts Payable PACE Supply Corp $3,083.11
Invoice Date Description Amount
128303086 01/17/2023 Facilities - Handwash Sink, Drain, Batt ADA $3,083.11
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,083.11
731915 02/03/2023 Open Accounts Payable PG&E $120.46
Invoice Date Description Amount
8413-012723 01/27/2023 4685859841-3 12/21/22-1/22/23 $120.46
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$120.46
731916 02/03/2023 Open Accounts Payable PG&E $9.96
Invoice Date Description Amount
1937-012623 01/26/2023 8754273193-7 12/20/22-1/19/23 $9.96
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$9.96
731917 02/03/2023 Open Accounts Payable PG&E $38.27
Invoice Date Description Amount
0719-012523 01/25/2023 9223068071-9 12/19/22-1/18/23 $38.27
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$38.27
731918 02/03/2023 Open Accounts Payable REGISTRAR OF VOTERS $120,921.00
Invoice Date Description Amount
NOV22-007 01/13/2023 Final billing - November 2022 General Election $120,921.00
Paying Fund Cash Account Amount
Monday, February 06, 2023Pages: 4 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
260
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$120,921.00
731919 02/03/2023 Open Accounts Payable RPM EXTERMINATORS INC $500.00
Invoice Date Description Amount
0099687 01/10/2023 Facilities - McClellan Ranch Ants Outside $500.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$500.00
731920 02/03/2023 Open Accounts Payable SHAWN TOGNETTI $48.94
Invoice Date Description Amount
ShawnT12082022 12/08/2022 Shawn T. Cityworks Conference $48.94
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$48.94
731921 02/03/2023 Open Accounts Payable SIERRA PACIFIC TURF SUPPLY,
INC.
$137.50
Invoice Date Description Amount
0634752-IN 01/23/2023 Trees/ROW - Reacher EZ 32"$137.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$137.50
731922 02/03/2023 Open Accounts Payable Signia by Hilton San Jose $1,640.00
Invoice Date Description Amount
02092023 01/30/2023 Senior Trip - Brunch at Fountain Restaurant
02/09/2023
$1,640.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,640.00
731923 02/03/2023 Open Accounts Payable SolarWinds $14,147.34
Invoice Date Description Amount
IN590576 01/31/2023 SolarWinds Performance Monitor Maintenance 4/14/23
- 06/30/24
$14,147.34
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$14,147.34
731924 02/03/2023 Open Accounts Payable SONIA DOGRA $234.00
Invoice Date Description Amount
012223 SD 01/22/2023 January Fitness classes $234.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$234.00
731925 02/03/2023 Open Accounts Payable Statcomm Inc.$15,671.25
Invoice Date Description Amount
C011553 12/01/2022 Facilities - Q4 2022 Test & Inspection Monte Vista $821.25
C011550 12/01/2022 Facilities - Q4 2022 Test & Inspection Service Center $821.25
C011552 12/01/2022 Facilities - Q4 2022 Test & Inspection Env Ed Center $1,511.25
C011546 12/01/2022 Facilities - Q4 2022 Test & Inspection City Hall $1,856.25
C011547 12/01/2022 Facilities - Q4 2022 Test & Inspection Comm Hall $1,856.25
Monday, February 06, 2023Pages: 5 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
261
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
C011548 12/01/2022 Facilities - Q4 2022 Test & Inspection Library $2,201.25
C011549 12/01/2022 Facilities - Q4 2022 Test & Inspection Senior Center $2,201.25
C011551 12/01/2022 Facilities - Q4 2022 Test & Inspection Sports Center $2,201.25
C011554 12/01/2022 Facilities - Q4 2022 Test & Inspection QCC $2,201.25
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$13,470.00
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$2,201.25
731926 02/03/2023 Open Accounts Payable SVA Architects, Inc.$1,697.00
Invoice Date Description Amount
59913 09/30/2022 Landscape Design for Cupertino Library through
09302022
$1,697.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$1,697.00
731927 02/03/2023 Open Accounts Payable SWANK MOTION PICTURES, INC.$285.00
Invoice Date Description Amount
BO 2003589 01/26/2023 Swank, Minions Movie License; YAB Movie Night $285.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$285.00
731928 02/03/2023 Open Accounts Payable SWRCB Accounting Office $26,498.00
Invoice Date Description Amount
SW-0241901 11/29/2022 Annual Storm Water Permit Fees FY22/23 $26,498.00
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$26,498.00
731929 02/03/2023 Open Accounts Payable TARGET SPECIALTY PRODUCTS $567.50
Invoice Date Description Amount
INVP501037806 01/26/2023 Grounds - Spray Gun, Coverall, Mole Trap, Pro
Spreader, Cleaner
$567.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$567.50
731930 02/03/2023 Open Accounts Payable Western Allied Mechanical $2,580.00
Invoice Date Description Amount
12464361 11/30/2022 Facilities - QCC Boiler Annual $2,580.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,580.00
731931 02/03/2023 Open Accounts Payable Hui, David $385.00
Invoice Date Description Amount
2023-00000451 01/19/2023 Reimbursement for Assistant Pool Manager Training
(WSI & epi-pen)
$385.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$385.00
Monday, February 06, 2023Pages: 6 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
262
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
731932 02/03/2023 Open Accounts Payable Ke, Laurier $400.00
Invoice Date Description Amount
2023-00000431 12/05/2022 Reimbursement for Red Cross Lifeguarding class -
Swimming Swan
$400.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$400.00
731933 02/03/2023 Open Accounts Payable SILAWATCHARAPOL, SIRILAK $36,200.00
Invoice Date Description Amount
203917 01/30/2023 10104 Byrne Ave, Encroachment, 203917 $36,200.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$36,200.00
731934 02/03/2023 Open Accounts Payable Tommy Yu $34.99
Invoice Date Description Amount
Yu012423 01/24/2023 LiveScan and Fingerprinting Reimbursement $34.99
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$34.99
731935 02/03/2023 Open Accounts Payable Zoom Video Communications Inc.$33,004.44
Invoice Date Description Amount
Zoom012623 01/26/2023 paid UUT Tax to Cupertino in error. should be for other
city
$33,004.44
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$33,004.44
731936 02/03/2023 Open Accounts Payable Operating Engineers Local Union No.
3
$1,464.64
Invoice Date Description Amount
01272023 01/27/2023 Union Dues pp 1/14/23-1/27/23 $1,464.64
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,464.64
Type Check Totals:47 Transactions $438,136.09
EFT
36211 01/31/2023 Open Accounts Payable California Department of Tax & Fee
Administration
$1,413.00
Invoice Date Description Amount
QTR4-2022 01/30/2023 SR GH 026-818149 Sales/Use Tax OCT22-DEC22 $1,413.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$248.81
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$873.36
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$288.52
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$2.31
Monday, February 06, 2023Pages: 7 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
263
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36212 02/03/2023 Open Accounts Payable ABOLI JAYDEEP RANADE $156.00
Invoice Date Description Amount
012223 AR 01/22/2023 January Fitness classes $156.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$156.00
36213 02/03/2023 Open Accounts Payable Amazon Capital Services $664.81
Invoice Date Description Amount
1DG7-NRD4-NCVV 01/09/2023 1x Data Governance For Dummies (For Dummies
(Computer/tech))
$37.89
1RXQ-RYW6-MQCV 01/16/2023 4x Hpe Aruba JW053A White Wall/Pole Mounting Kit
for AP-274/AP-2
$524.28
1DWL-77XT-49W3 01/30/2023 1x TEAMGROUP Elite DDR4 32GB Kit (2 x 16GB)
3200MHz (PC4-25600)
$74.53
1R3C-QDKX-66RD 01/30/2023 1x Dust-Off 10 oz Compressed Gas Duster, Pack of 4 $28.11
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$664.81
36214 02/03/2023 Open Accounts Payable Amit Goel $273.00
Invoice Date Description Amount
012223 AG 01/22/2023 January Fitness classes $273.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$273.00
36215 02/03/2023 Open Accounts Payable BECK'S SHOES INC. $800.00
Invoice Date Description Amount
263001-00 01/20/2023 Safety Apparel Boots - Ty Bloomquist & John Ramos $800.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$800.00
36216 02/03/2023 Open Accounts Payable Bikeep Inc.$49.00
Invoice Date Description Amount
17923 01/31/2023 Monthly Bikeep Fee $49.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$49.00
36217 02/03/2023 Open Accounts Payable Callander Associates Landscape
Architecture
$526.00
Invoice Date Description Amount
21059-10 01/31/2023 Wilson Park Community Garden through 12312022 $526.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$526.00
36218 02/03/2023 Open Accounts Payable City of San Jose $4,000.00
Invoice Date Description Amount
1222484 01/24/2023 Storm Drain Maintenance Joint Participation 4 storm
outfalls
$4,000.00
Paying Fund Cash Account Amount
Monday, February 06, 2023Pages: 8 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
264
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$4,000.00
36219 02/03/2023 Open Accounts Payable CROWE LLP $40,000.00
Invoice Date Description Amount
701-2614269 01/31/2023 Professional Services for the period ended JAN 12
2023
$40,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$40,000.00
36220 02/03/2023 Open Accounts Payable CSG Consultants, Inc.$962.00
Invoice Date Description Amount
48429-R 01/09/2023 Regnart Creek Fencing through 12302022 $962.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$962.00
36221 02/03/2023 Open Accounts Payable Cupertino Supply, Inc $41.05
Invoice Date Description Amount
311218 01/19/2023 Grounds -Polypropylene Union Tee 3/8 $41.05
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$41.05
36222 02/03/2023 Open Accounts Payable Cyxtera Communications, LLC $3,585.42
Invoice Date Description Amount
B1-2304373 11/01/2022 FY23 Colocation Services - December 2022 $1,179.51
B1-2312008 12/01/2022 FY23 Colocation Services - January 2023 $1,179.51
B1-2317398 01/01/2023 FY23 Colocation Services - February 2023 $1,226.40
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$3,585.42
36223 02/03/2023 Open Accounts Payable DELL MARKETING L.P.$43,533.82
Invoice Date Description Amount
10648457000 01/30/2023 45x Adobe Creative Cloud & 143x VLA Acrobat Pro dc
Licenses
$43,533.82
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$43,533.82
36224 02/03/2023 Open Accounts Payable FolgerGraphics $3,039.13
Invoice Date Description Amount
134779 01/23/2023 Memorial Park Concept Plan Postcard Mailer $3,039.13
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$3,039.13
36225 02/03/2023 Open Accounts Payable GARDENLAND POWER
EQUIPMENT
$425.85
Invoice Date Description Amount
983736 01/20/2023 Trees/ROW - Rake Heads, Alum Handle, Wood
Handle
$425.85
Paying Fund Cash Account Amount
Monday, February 06, 2023Pages: 9 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
265
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$425.85
36226 02/03/2023 Open Accounts Payable GRACE DUVAL $308.00
Invoice Date Description Amount
012223 GD 01/22/2023 January Fitness classes $308.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$308.00
36227 02/03/2023 Open Accounts Payable GRAINGER INC $751.16
Invoice Date Description Amount
9541889003 12/12/2022 Facilities - Ceiling Tile $111.09
9588954736 01/27/2023 Various Traffic signal Supplies $228.38
9588954710 01/27/2023 Various Traffic signal Supplies $411.69
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$751.16
36228 02/03/2023 Open Accounts Payable Granite Data Solutions $63,588.90
Invoice Date Description Amount
IN81688-1 01/12/2023 45x Dell Latitude 5430 Laptop - Intel Core i5-1235U
1.3GHz CPU
$63,588.90
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$63,588.90
36229 02/03/2023 Open Accounts Payable HdL Coren & Cone $4,799.68
Invoice Date Description Amount
SIN024816 01/24/2023 Contract Services Property Tax: January - March 2023 $4,799.68
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,799.68
36230 02/03/2023 Open Accounts Payable InservH2O Inc.$1,107.62
Invoice Date Description Amount
2606 01/09/2023 Facilities - Jan 2023 Water Treatment $272.82
2575 01/09/2023 Facilities - Jan 2023 Water Treatment Multiple Sites $834.80
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,107.62
36231 02/03/2023 Open Accounts Payable Jahara Pagadipaala $120.00
Invoice Date Description Amount
012223 JP 01/22/2023 January Fitness classes $120.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$120.00
36232 02/03/2023 Open Accounts Payable JAMES COLVIN $2,496.00
Invoice Date Description Amount
012223 JC 01/22/2023 January PT $2,496.00
Paying Fund Cash Account Amount
Monday, February 06, 2023Pages: 10 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
266
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$2,496.00
36233 02/03/2023 Open Accounts Payable JENNIFER HILL $369.00
Invoice Date Description Amount
012223 JH 01/22/2023 January Fitness classes $369.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$369.00
36234 02/03/2023 Open Accounts Payable John Raaymakers $55.00
Invoice Date Description Amount
JohnR01192023 01/19/2023 Cell Phone Reimbursement through 122022-011923 $55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
36235 02/03/2023 Open Accounts Payable KIMBALL-MIDWEST $431.60
Invoice Date Description Amount
100666067 01/17/2023 Fleet - Lock Nut, Heat Seal $431.60
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$431.60
36236 02/03/2023 Open Accounts Payable Mallika M Thoppay $120.00
Invoice Date Description Amount
012223 MMT 01/22/2023 January Fitness classes $120.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$120.00
36237 02/03/2023 Open Accounts Payable Melisa Stoner $675.00
Invoice Date Description Amount
012223 MS 01/22/2023 January Fitness classes $675.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$675.00
36238 02/03/2023 Open Accounts Payable MONICA G. RANES-GOLDBERG $546.00
Invoice Date Description Amount
012223 MGRG 01/22/2023 January Fitness classes $546.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$546.00
36239 02/03/2023 Open Accounts Payable Nexinite, LLC $630.00
Invoice Date Description Amount
INV-001745 09/13/2022 Form Digitization Service for August 2022 $630.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$630.00
36240 02/03/2023 Open Accounts Payable ODP Business Solutions, LLC.$213.07
Invoice Date Description Amount
289102742001 01/17/2023 Credit on Kitchen Supplies ($4.60)
Monday, February 06, 2023Pages: 11 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
267
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
287014364001 01/12/2023 Office Supply - Admin Svcs - Toner $161.25
285402628001 01/16/2023 Office Supply - Admin Svcs - Battery & Kleenex $56.42
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$213.07
36241 02/03/2023 Open Accounts Payable Pakpour Consulting Group, Inc.$3,500.00
Invoice Date Description Amount
4007 01/10/2023 Stevens Creek Blvd Class IV Bikeway Ph. 2 through
120122-123122
$3,500.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$3,500.00
36242 02/03/2023 Open Accounts Payable PLAN JPA $439.00
Invoice Date Description Amount
PLAN-2023-0121 01/20/2023 General Liability Claims - December 2022 $439.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$439.00
36243 02/03/2023 Open Accounts Payable Quench USA, Inc.$268.32
Invoice Date Description Amount
INV05334364 02/01/2023 10300 Torre Ave through 020123-033123 $177.44
INV05325039 02/01/2023 10981 Franco Ct address through 020123-033123 $90.88
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$268.32
36244 02/03/2023 Open Accounts Payable Raychel Renee Balcioni Cruz $1,560.00
Invoice Date Description Amount
012223 RRBC 01/22/2023 January Fitness classes $1,560.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$1,560.00
36245 02/03/2023 Open Accounts Payable Recology South Bay $79,756.83
Invoice Date Description Amount
Jan-23 RY2 01/31/2023 City Payment to Recology Rate Year 2/1/22 - 1/31/23-
Jan 2023
$79,756.83
Paying Fund Cash Account Amount
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$79,756.83
36246 02/03/2023 Open Accounts Payable Red Wing Business Advantage
Account
$975.84
Invoice Date Description Amount
148-1-122126 12/10/2022 Safety Apparel Boots - Michael Kimball $400.00
231-1-162013 12/10/2022 Safety Apparel Boots - Brandon Martinez $339.60
148-1-122837 12/10/2022 Safety Apparel Boots - Kevin Greene $236.24
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$975.84
Monday, February 06, 2023Pages: 12 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
268
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36247 02/03/2023 Open Accounts Payable Richard Yau $1,350.00
Invoice Date Description Amount
2301 01/25/2023 Master Agreement 2022-002 Various Projects $1,350.00
Paying Fund Cash Account Amount
210 - Storm Drain Improvement 210 100-100 (Cash & Investments Assets Operating
Cash)
$75.00
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$1,275.00
36248 02/03/2023 Open Accounts Payable Rojin Karimzad $540.00
Invoice Date Description Amount
012223 RK 01/22/2023 January Fitness classes $540.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$540.00
36249 02/03/2023 Open Accounts Payable RS Dislay, Inc.$1,294.77
Invoice Date Description Amount
2566 12/19/2022 Grounds - Re-do Park Sign $1,294.77
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,294.77
36250 02/03/2023 Open Accounts Payable San Jose Conservation Corps &
Charter School
$3,060.00
Invoice Date Description Amount
7786 09/30/2022 Compost Site Attendants- September 2022 $3,060.00
Paying Fund Cash Account Amount
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$3,060.00
36251 02/03/2023 Open Accounts Payable SHUTE, MIHALY & WEINBERGER
LLP
$9,744.93
Invoice Date Description Amount
280088 01/25/2023 Legal Services, December 2022 $5,875.86
280089 01/25/2023 Legal Services, December 2022 $3,289.20
279885 01/26/2023 Legal Services, December 2022 $579.87
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$9,744.93
36252 02/03/2023 Open Accounts Payable Sonitrol/Pacific West Security, Inc.$1,050.00
Invoice Date Description Amount
67587 11/30/2022 Sports Center Installation through 01232023 $950.00
69253 12/31/2022 Facilities - Srv Cntr Troubleshoot Lobby Access
Problem
$100.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$100.00
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$950.00
36253 02/03/2023 Open Accounts Payable Staples $238.48
Invoice Date Description Amount
3525264062 12/10/2022 Staples Order $82.45
Monday, February 06, 2023Pages: 13 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
269
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
3525466044 12/14/2022 Office Paper Order $99.63
3525466045 12/14/2022 Staples Refund Order ($17.18)
3527048659 01/03/2023 Service Center - Clip Wall Panels, Coffee Supplies $73.58
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$238.48
36254 02/03/2023 Open Accounts Payable Statewide Traffic Safety & Signs Inc.$92.96
Invoice Date Description Amount
05039887 01/26/2023 Streets - Black All Season Asphalt Patch $92.96
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$92.96
36255 02/03/2023 Open Accounts Payable TERRYBERRY COMPANY LLC $402.35
Invoice Date Description Amount
143069-29535 11/30/2022 Employee Recognition - E. Sigler, T. Gerhardt $402.35
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$402.35
36256 02/03/2023 Open Accounts Payable TRAIL HEAD CYCLERY, INC.$1,287.07
Invoice Date Description Amount
2560 01/12/2023 Invoice for Ebike Maintenance $1,287.07
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,287.07
36257 02/03/2023 Open Accounts Payable WOWzy Creation Corp. dba First
Place
$28.87
Invoice Date Description Amount
95846 01/30/2023 Victoria M. cubicle name plate $28.87
Paying Fund Cash Account Amount
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$28.87
36258 02/03/2023 Open Accounts Payable Colonial Life & Accident Insurance $29.16
Invoice Date Description Amount
01272023 01/27/2023 Colonial Products pp 1/14/23-1/27/23 $29.16
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$29.16
36259 02/03/2023 Open Accounts Payable Employment Development $8,106.00
Invoice Date Description Amount
01272023 01/27/2023 State Disability Insurance pp 1/14/23-1/27/23 $8,106.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$8,106.00
36260 02/03/2023 Open Accounts Payable National Deferred (ROTH)$3,864.89
Invoice Date Description Amount
01272023 01/27/2023 Nationwide Roth pp 1/14/23-1/27/23 $3,864.89
Paying Fund Cash Account Amount
Monday, February 06, 2023Pages: 14 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
270
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,864.89
36261 02/03/2023 Open Accounts Payable National Deferred Compensatin $24,084.41
Invoice Date Description Amount
01272023 01/27/2023 Nationwide Deferred Compensation pp 1/14/23-
1/27/23
$24,084.41
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$24,084.41
36262 02/03/2023 Open Accounts Payable PERS-457K $16,257.13
Invoice Date Description Amount
01272023 01/27/2023 PERS 457K pp 1/14/23-1/27/23 $16,257.13
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$16,257.13
36263 02/03/2023 Open Accounts Payable State Disbursement Unit $495.73
Invoice Date Description Amount
01272023 01/27/2023 Child Support pp 1/14/23-1/27/23 $495.73
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$495.73
36264 02/03/2023 Open Accounts Payable Eflex Group, Inc $4,396.42
Invoice Date Description Amount
01272023 01/27/2023 FSA Employee Health pp 1/14/23-1/27/23 $4,396.42
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,396.42
36265 02/03/2023 Open Accounts Payable IFPTE LOCAL 21 $1,929.45
Invoice Date Description Amount
01272023 01/27/2023 Association Dues - CEA pp 1/14/23-1/27/23 $1,929.45
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,929.45
36266 02/03/2023 Open Accounts Payable MissionSquare $15,510.86
Invoice Date Description Amount
01272023 01/27/2023 ICMA Deferred Comp pp 1/14/23-1/27/23 $15,510.86
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$15,510.86
36267 02/03/2023 Open Accounts Payable PARS/City of Cupertino $3,227.65
Invoice Date Description Amount
01272023 01/27/2023 PARS pp 1/14/23-1/27/23 $3,227.65
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,227.65
Type EFT Totals:57 Transactions $359,171.23
Main Account - Main Checking Account Totals
Monday, February 06, 2023Pages: 15 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
271
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Checks Status Count Transaction Amount Reconciled Amount
Open 47 $438,136.09 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 47 $438,136.09 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 57 $359,171.23 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 57 $359,171.23 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 104 $797,307.32 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 104 $797,307.32 $0.00
Grand Totals:
Checks Status Count Transaction Amount Reconciled Amount
Open 47 $438,136.09 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 47 $438,136.09 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 57 $359,171.23 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 57 $359,171.23 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 104 $797,307.32 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 104 $797,307.32 $0.00
Monday, February 06, 2023Pages: 16 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 1/28/2023 - To Payment Date: 2/3/2023
272
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Main Account - Main Checking Account
Check
731937 02/10/2023 Open Accounts Payable Advantage Grafix $106.94
Invoice Date Description Amount
47238 01/23/2023 Business Cards for D'Miles Salmon $106.94
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$106.94
731938 02/10/2023 Open Accounts Payable AT & T $124.69
Invoice Date Description Amount
5558-012823 01/28/2023 960 731-7142 555 8 $124.69
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$124.69
731939 02/10/2023 Open Accounts Payable BAY AREA NEWS GROUP - EAST
BAY
$558.00
Invoice Date Description Amount
0001365286 01/31/2023 Legal Advertising - 1/1/2023-1/31/2023 $558.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$558.00
731940 02/10/2023 Open Accounts Payable CINTAS CORP $5,990.11
Invoice Date Description Amount
4142437025 01/04/2023 Uniforms Safety Apparel $1,183.08
4145152625 01/31/2023 Uniforms Safety Apparel $1,221.59
4144450735 01/24/2023 Uniforms Safety Apparel $1,156.45
4143720828 01/17/2023 Uniforms Safety Apparel $1,158.02
4143067301 01/10/2023 Uniforms Safety Apparel $1,270.97
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,990.11
731941 02/10/2023 Open Accounts Payable CITY OF CUPERTINO $10,195.48
Invoice Date Description Amount
MR2023- 00000018 02/07/2023 Billing for Jun -Dec 2022 Clean Water and Storm
Protection Fees
$10,195.48
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$8,642.73
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$201.95
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$809.86
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$540.94
731942 02/10/2023 Open Accounts Payable City of Sunnyvale $126,500.00
Invoice Date Description Amount
833800-01 01/31/2023 VERBS Homestead HS Bike/Ped Improv 1.9.18 to
9.15.22
$126,500.00
Paying Fund Cash Account Amount
Monday, February 13, 2023Pages: 1 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
273
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$126,500.00
731943 02/10/2023 Open Accounts Payable Clay Planet $315.81
Invoice Date Description Amount
226236 01/24/2023 Clay Planet; Thermo Couplers, Wheel Belts, Stilt
Stones
$218.69
226276 02/03/2023 Clay Planet; Replacement Stool for Wilson Park
Ceramics
$97.12
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$315.81
731944 02/10/2023 Open Accounts Payable County of Santa Clara -Office of the
Sheriff
$1,379,849.83
Invoice Date Description Amount
1800084717 02/07/2023 Advance for Law Enforcement Svs FEB 2023 $1,379,849.83
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,379,849.83
731945 02/10/2023 Open Accounts Payable Dex Systems Engineering $3,655.00
Invoice Date Description Amount
1595 02/05/2023 Senior Ctr. Monitor; Build A/V cart; Install Equipment $3,655.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,655.00
731946 02/10/2023 Open Accounts Payable DIALOG Design LP $35,978.72
Invoice Date Description Amount
LP.100609 01/15/2023 Cupertino Renovation City Hall Annex through
12312022
$35,978.72
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$35,978.72
731947 02/10/2023 Open Accounts Payable EMPLOYMENT DEVELOPMENT
DEPARTMENT
$7,471.00
Invoice Date Description Amount
L0260248976 01/30/2023 Unemployment Insurance Benefit Charge Dec 31 2022
Q4
$7,471.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$7,471.00
731948 02/10/2023 Open Accounts Payable EOA, Inc.$1,311.25
Invoice Date Description Amount
CT02-1222 01/27/2023 Update/Implement SWPPP & Inspections- December
2022 services
$1,311.25
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$1,311.25
Monday, February 13, 2023Pages: 2 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
274
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
731949 02/10/2023 Open Accounts Payable Freyer & Laureta, Inc.$5,000.00
Invoice Date Description Amount
22-642 11/30/2022 Service Center Security Project Task III $5,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,000.00
731950 02/10/2023 Open Accounts Payable Got Gophers, Inc.$925.00
Invoice Date Description Amount
40662 01/31/2023 Grounds: Varian, Hoover, Regnart, Somerset, LV, BBF
Maint
$925.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$925.00
731951 02/10/2023 Open Accounts Payable Great Valley Museum $500.00
Invoice Date Description Amount
02082023 01/31/2023 Fees for Great Valley Museum Planetarium Tour on
01/26/2023
$500.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$500.00
731952 02/10/2023 Open Accounts Payable Hexagon Transportation Consultants,
Inc.
$13,705.00
Invoice Date Description Amount
16275 02/03/2023 Lawson Middle School Bikeway Feas. Study thru
12322-123122
$13,705.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$13,705.00
731953 02/10/2023 Open Accounts Payable HOME DEPOT CREDIT SERVICES $2,267.58
Invoice Date Description Amount
4014893 12/29/2022 Grounds - Bill Bridge Steel Cable, Batteries $55.61
8516145 01/04/2023 Facilities - Robert G Hex Bolt $2.24
9515848 01/03/2023 Facilities - Robert G Outlet Black Surge $51.61
8400107 01/04/2023 Grounds - Sean Filbeck Bucket, Sealer Spray $143.12
1612442 01/11/2023 Trees/ROW - Michael Chandler TruFuel $61.08
8610693 01/04/2023 Facillities - Ty B Paneling $27.23
1190120 01/11/2023 Facilities - Michael Chandler Credit ($7.63)
1612439 01/11/2023 Facilities - Michael Chandler Single Outlet $7.63
2612260 01/10/2023 Facilities - Michael Chandler Outlet, Wall Plate $10.07
1521483 01/11/2023 Facilities - Domingo S Shet Metal, Door Stop $58.76
3520998 01/09/2023 Facilities - Domingo S Adhesive, Cap, Cloths $65.46
4034603 01/18/2023 Grounds - Adapter, Ball Valve $110.60
4034650 01/18/2023 Grounds - Sean Filbeck Batteries, Torch Kit, Wrench
Set
$488.85
4034651 01/18/2023 Grounds - Sean Filbeck Bucket, Brush, Tape, Drain
Bladder, Blade
$180.64
9238558 01/13/2023 Service Center - Jindy Toaster Over for Kitchen $109.36
9633920 01/03/2023 Facilities - Michael Chandler Toilet Tank Lever $10.36
Monday, February 13, 2023Pages: 3 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
275
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
8511606 01/24/2023 Facilities - Michael Chandler 4' LED Vaportite 4000
Lumens
$216.56
1033862 01/11/2023 Facilities - Ty B Vinyl Clip, Corner Bead, Stud, Drywall
Tape
$446.38
3517514 01/09/2023 Facilities - Michael Chandler Tub Drain Wrench $13.09
6524703 01/26/2023 Facilities - Michael Miranda LED Vaportite $216.56
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,267.58
731954 02/10/2023 Open Accounts Payable ID WHOLESALER $328.33
Invoice Date Description Amount
INV6918221 09/21/2022 Entrust Datacard SD460 YMCKT full-color ribbon kit,
500 images,
$328.33
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$328.33
731955 02/10/2023 Open Accounts Payable Language Network, Inc $1,393.60
Invoice Date Description Amount
P3891 01/31/2023 PW CIP-Translation of Survey Questions $1,393.60
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$1,393.60
731956 02/10/2023 Open Accounts Payable Mood Media $108.90
Invoice Date Description Amount
57355016 02/01/2023 MOOD MEDIA Recurring Services from 01-FEB-23 to
28-FEB-23
$108.90
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$108.90
731957 02/10/2023 Open Accounts Payable Napa Auto Parts $2,423.54
Invoice Date Description Amount
688891 01/18/2023 Fleet - Tire Iron $387.84
689010 01/19/2023 Fleet - Spark Plug $118.23
686549 12/16/2022 Fleet - Fourway $62.60
689240 01/21/2023 Fleet - Credit for Invoice 689128 ($26.36)
689133 01/20/2023 Fleet - Credit for Invoice# 689128 ($8.78)
689128 01/20/2023 Fleet - Brake Parts, Ultra Synthetic $463.55
689467 01/24/2023 Fleet - Cerulean $39.89
688193 01/09/2023 Fleet - Circuit $57.47
687794 01/04/2023 Fleet - Windshield Wash, Filter,Bay Box $507.93
689274 01/23/2023 Fleet - Steel Wheel $38.26
689273 01/23/2023 Fleet - Oil Filter $16.48
689161 01/20/2023 Fleet - Oil Filter $66.72
689102 01/20/2023 Fleet - Paste, Beads $211.90
689367 01/24/2023 Fleet - Credit for Invoice# 689128 ($35.12)
690484 02/06/2023 Fleet - Oil Filter $70.28
690239 02/02/2023 Fleet - Spark Plug $96.69
690485 02/06/2023 Fleet - Prem AQ 46 Hyd $112.06
690276 02/03/2023 Fleet - Prem Tr Hyd Oil $243.90
Monday, February 13, 2023Pages: 4 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
276
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$2,423.54
731958 02/10/2023 Open Accounts Payable National Association City
Transportation Officials
$9,375.00
Invoice Date Description Amount
INV000772 01/23/2023 2023 Member Dues through 010123-123123 $9,375.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$9,375.00
731959 02/10/2023 Open Accounts Payable Natron Resources, Inc.$8,597.00
Invoice Date Description Amount
5280 01/12/2023 City of Cupertino Fire Alarm $8,597.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$8,597.00
731960 02/10/2023 Open Accounts Payable O'REILLY AUTO PARTS $72.40
Invoice Date Description Amount
2591-269038 01/30/2023 Fleet - Oil Filter $22.22
2591-269035 01/30/2023 Fleet - Convex Mir $50.18
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$72.40
731961 02/10/2023 Open Accounts Payable Occupational Health Centers of
California, A Medi
$89.00
Invoice Date Description Amount
78059717 01/23/2023 TB Test - P. Mincher $89.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$89.00
731962 02/10/2023 Open Accounts Payable PG&E $88.52
Invoice Date Description Amount
4212-013123 01/31/2023 3535370421-2 12/21/22-1/19/23 $88.52
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$88.52
731963 02/10/2023 Open Accounts Payable PG&E $24,209.02
Invoice Date Description Amount
3296-013023 01/30/2023 5116972329-6 12/22/22-1/23/23 $24,209.02
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$24,209.02
731964 02/10/2023 Open Accounts Payable PG&E $234.89
Invoice Date Description Amount
0349-013023 01/30/2023 3042033034-9 12/20/22-1/18/23 $234.89
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$234.89
Monday, February 13, 2023Pages: 5 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
277
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
731965 02/10/2023 Open Accounts Payable PG&E $281.78
Invoice Date Description Amount
9785-013023 01/30/2023 2016881978-5 12/20/22-1/19/23 $281.78
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$281.78
731966 02/10/2023 Open Accounts Payable PREFERRED ALLIANCE, INC $2,000.96
Invoice Date Description Amount
0184802-IN 12/29/2022 Annual Reconciliation $2,000.96
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,000.96
731967 02/10/2023 Open Accounts Payable Pyro-Comm Systems, Inc $2,123.26
Invoice Date Description Amount
33078 01/16/2023 21111 Stevens Creek Blvd-Sports Center through
01312023
$2,123.26
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$2,123.26
731968 02/10/2023 Open Accounts Payable Quadient, Inc.$90.90
Invoice Date Description Amount
59886162 01/24/2023 Standard Maintenance for Postage Machine (02/23/23
-05/22/23)
$90.90
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$90.90
731969 02/10/2023 Open Accounts Payable ROYAL BRASS INC $381.61
Invoice Date Description Amount
A03278-001 02/03/2023 Fleet - Swivel Nut Elbo $45.12
A03057-001 02/01/2023 Fleet - Tubing, Nut, Sleeve $103.89
A02979-001 01/30/2023 Fleet - Adaptor $232.60
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$381.61
731970 02/10/2023 Open Accounts Payable Royal Coach Tours $1,358.00
Invoice Date Description Amount
25986 02/06/2023 Charter 25986 02/23/2023 Marine Mammal Center $1,358.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,358.00
731971 02/10/2023 Open Accounts Payable SAN JOSE WATER COMPANY $166.72
Invoice Date Description Amount
SJW012923-0 01/29/2023 0067500000-4 - Oro Grande PL LS $166.72
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$166.72
Monday, February 13, 2023Pages: 6 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
278
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
731972 02/10/2023 Open Accounts Payable Schaaf & Wheeler, Consulting Civil
Engineers
$10,255.00
Invoice Date Description Amount
37050 12/31/2022 SO #1 Pumpkin-Fiesta Storm Drain Ph 1 (Do) $150.00
37049 12/31/2022 SO #2 Hydrolic Modeling Services I-280 Trail East
Segment (Moran
$10,105.00
Paying Fund Cash Account Amount
210 - Storm Drain Improvement 210 100-100 (Cash & Investments Assets Operating
Cash)
$150.00
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$10,105.00
731973 02/10/2023 Open Accounts Payable SESAC $1,798.00
Invoice Date Description Amount
10615417 01/01/2023 Music License Yearly Fee 2023 - SESAC $1,798.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,798.00
731974 02/10/2023 Open Accounts Payable Site5 $32.94
Invoice Date Description Amount
4087312 02/04/2023 Domain Renewal - cupertinobuzz.com - 1 Year/s
(03/21/2023 - 03/2
$32.94
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$32.94
731975 02/10/2023 Open Accounts Payable SITEONE LANDSCAPE SUPPLY,
LLC
$461.22
Invoice Date Description Amount
126380498-001 01/23/2023 Grounds - Mound Clay, Red Clay Blocks Mounds $461.22
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$461.22
731976 02/10/2023 Open Accounts Payable SWRCB Accounting Office $1,278.00
Invoice Date Description Amount
WD-0226826 01/18/2023 Regnart Creek Trail Project through 070122-063023 $365.00
SW-0255039 01/18/2023 Regnart Creek Trail Project through 010123-123123 $548.00
WD-0226747 01/18/2023 Preventative Maintenance through 070122-063023 $365.00
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$365.00
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$913.00
731977 02/10/2023 Open Accounts Payable SYSCO - SAN FRANCISCO $1,355.27
Invoice Date Description Amount
550539620 02/01/2023 Coffee Supplies & Cleaning Supply $1,355.27
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,355.27
Monday, February 13, 2023Pages: 7 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
279
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
731978 02/10/2023 Open Accounts Payable T-MOBILE $177.89
Invoice Date Description Amount
4158-012123 01/21/2023 966594158 - 012123 $177.89
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$177.89
731979 02/10/2023 Open Accounts Payable TPx Communications $2,244.02
Invoice Date Description Amount
166924110-0 01/31/2023 Telephone Service for new VoIP System Jan. 2023 $2,244.02
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$2,244.02
731980 02/10/2023 Open Accounts Payable TransUnion Risk and Alternative $165.00
Invoice Date Description Amount
6110432-202301-1 02/01/2023 Tlo 01/01/2023 - 01/31/2023 $165.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$165.00
731981 02/10/2023 Open Accounts Payable Crash Champions, LLC $396.41
Invoice Date Description Amount
CCL113022 11/30/2022 The applicant applied the license twice $396.41
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$396.41
731982 02/10/2023 Open Accounts Payable Jaspreet Kaur $45.00
Invoice Date Description Amount
Kaur012823 01/28/2023 LiveScan and Fingerprinting Reimbursement $45.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$45.00
731983 02/10/2023 Open Accounts Payable Leanicia Jones $45.00
Invoice Date Description Amount
Jones010623 01/06/2023 LiveScan and Fingerprinting Reimbursement $45.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$45.00
731984 02/10/2023 Open Accounts Payable Nextage Construction $173.00
Invoice Date Description Amount
NC020123 02/01/2023 The closed the business in Cupertino $173.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$173.00
731985 02/10/2023 Open Accounts Payable RANATUNGA, JANAKA $5,000.00
Invoice Date Description Amount
272299 02/06/2023 10408 Sterling Blvd, Encroachment, 272299 $5,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,000.00
Monday, February 13, 2023Pages: 8 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
280
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
731986 02/10/2023 Open Accounts Payable HortScience I Bartlett Consulting $1,623.25
Invoice Date Description Amount
16264 01/27/2023 TR-2022-050 Arborist Peer Review - 10156 Camberley
Lane
$1,623.25
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,623.25
731987 02/10/2023 Open Accounts Payable Janet Liang $1,147.01
Invoice Date Description Amount
Liang010923 01/09/2023 2022 GFOA Budget Academy Reimbursement $1,147.01
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,147.01
731988 02/10/2023 Open Accounts Payable Napa Auto Parts $198.96
Invoice Date Description Amount
5983-757982 05/12/2022 Fleet - Brake Parts Cleaner, Brush Head, Brush,
Fiberglass Pole
$198.96
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$198.96
731989 02/10/2023 Open Accounts Payable NAPA AUTO PARTS $737.84
Invoice Date Description Amount
5983-767285 06/21/2022 Fleet - FY 21-22 Brake Pad, Valve, Brake Rotor $481.06
5983-767521 06/22/2022 Fleet - FY 21-22 Brake Rotor $171.33
5983-767785 06/23/2022 Fleet - FY 21-22 Spark Plug, 24 Valve $45.24
767297 06/21/2022 Fleet - FY 21-22 Spark Plugs Part#'s 7599 and 3066 $40.21
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$737.84
731990 02/10/2023 Open Accounts Payable NAPA AUTO PARTS $254.81
Invoice Date Description Amount
5983-772435 07/13/2022 Fleet - Oil Filter $254.81
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$254.81
731991 02/10/2023 Open Accounts Payable NAPA AUTO PARTS $154.70
Invoice Date Description Amount
5983-774714 07/22/2022 Fleet - Fuel Filter, Cabin Air Filter $154.70
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$154.70
731992 02/10/2023 Open Accounts Payable NAPA AUTO PARTS $39.88
Invoice Date Description Amount
5983-774939 07/22/2022 Fleet - LED SSMC 12in RD $59.96
5983-774917 07/22/2022 Fleet - Reflector $32.74
5983-775294 07/25/2022 Fleet - Document Holder Kit $141.75
5983-768278 06/24/2022 Fleet - Credit for Invoice# 5983-767285 ($171.33)
Monday, February 13, 2023Pages: 9 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
281
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
5983-765559 06/13/2022 Fleet - Credit for Invoice#'s 5983-765277 & 5983-
764536
($23.24)
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$39.88
731993 02/10/2023 Open Accounts Payable NAPA AUTO PARTS $336.01
Invoice Date Description Amount
5983-777192 08/01/2022 Fleet - Coolant Tank Cap $33.16
5983-777191 08/01/2022 Fleet - Coolant Tank Cap $11.05
5983-778855 08/08/2022 Fleet - Air Filter $175.31
5983-778984 08/08/2022 Fleet - Veh# 42 Bluetooth, Radio Tool, Install Kit $116.49
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$336.01
731994 02/10/2023 Open Accounts Payable THOMAS JAMES HOMES $5,000.00
Invoice Date Description Amount
270129 12/14/2021 10742 Carver Dr., Encroachment, 270129 $5,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,000.00
731995 02/10/2023 Open Accounts Payable THOMAS JAMES HOMES $37,000.00
Invoice Date Description Amount
269874 12/14/2021 10206 Orange Ave,100%L&M Bond, 269874 $37,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$37,000.00
731996 02/10/2023 Open Accounts Payable Thomas James Homes $5,000.00
Invoice Date Description Amount
273534 04/21/2022 Refund for 10740 Gascoigne Dr, PW-2021-0137 $5,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,000.00
Type Check Totals:60 Transactions $1,722,697.05
EFT
36268 02/06/2023 Open Accounts Payable EMPLOYMENT DEVEL DEPT $43,823.64
Invoice Date Description Amount
01272023 01/27/2023 CA State Tax pp 1/14/23-1/27/23 $43,823.64
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$43,823.64
36269 02/06/2023 Open Accounts Payable IRS $142,437.63
Invoice Date Description Amount
01272023 01/27/2023 Federal Tax pp 1/14/23-1/27/23 $142,437.63
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$142,437.63
Monday, February 13, 2023Pages: 10 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
282
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36270 02/09/2023 Open Accounts Payable P E R S $552,996.18
Invoice Date Description Amount
01272023 01/27/2023 PERS pp 1/14/23-1/27/23 $552,996.18
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$552,996.18
36271 02/06/2023 Open Accounts Payable USPS - EFT ONLY $3,228.44
Invoice Date Description Amount
528251358 02/01/2023 CUPERTINO SCENE INC $3,228.44
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,228.44
36272 02/06/2023 Open Accounts Payable USPS - EFT ONLY $954.25
Invoice Date Description Amount
528090418 01/31/2023 CUPERTINO SCENE INC $954.25
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$954.25
36273 02/06/2023 Open Accounts Payable USPS - EFT ONLY $4,278.19
Invoice Date Description Amount
271938478 02/01/2023 CUPERTINO Parks and Rec Spring 23 $4,278.19
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,278.19
36274 02/09/2023 Open Accounts Payable California Public Employees'
Retirement System
$391,694.73
Invoice Date Description Amount
7158-011723 01/17/2023 Health Premiums $391,694.73
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$273,144.27
642 - Retiree Medical 642 100-100 (Cash & Investments Assets Operating
Cash)
$118,550.46
36275 02/06/2023 Open Accounts Payable SQUARE, INC.$105.00
Invoice Date Description Amount
2023-00000491 02/02/2023 SQUARE Team Plus 2/1/23-3/1/23 $105.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$105.00
36276 02/10/2023 Open Accounts Payable ABAG POWER- ASSOCIATION OF
BAY AREA GOVERNMENTS
$10,548.13
Invoice Date Description Amount
AR030785 02/01/2023 FY 23 AMD Level Charge-Nat Gas $10,548.13
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$9,494.98
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$1,053.15
Monday, February 13, 2023Pages: 11 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
283
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36277 02/10/2023 Open Accounts Payable Amazon Capital Services $2,033.79
Invoice Date Description Amount
1WGT-M4DF-MCX3 01/16/2023 Amazon (HDMI Cables)$263.04
1qNX-QKJ4-4WQN 01/30/2023 Amazon (Adhsive Hooks; Sinewave UPS; AppleTV $871.80
14YM-VRLH-LXL9 02/06/2023 Amazon (HDMI Cables; Air Filter; Push Button project)$898.95
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,033.79
36278 02/10/2023 Open Accounts Payable Amazon Web Services, Inc.$3,630.86
Invoice Date Description Amount
1HDJ-P6W4-GQKP 01/11/2023 credit memo 1HLD-J4WG-N6R3 for HP JetDirect 610n
Print Server (J
($16.36)
1236779777 02/02/2023 Applications AWS January 1 - January 31 , 2023 $1,431.18
1237956025 02/02/2023 GIS AWS January 1 - January 31, 2023 $2,216.04
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,431.18
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$2,199.68
36279 02/10/2023 Open Accounts Payable Apolent Corporation $13,120.00
Invoice Date Description Amount
CC230131 02/03/2023 Preeti Consulting Services 01/01/2023 - 01/31/23 $13,120.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$13,120.00
36280 02/10/2023 Open Accounts Payable B&H PHOTO-VIDEO $1,765.20
Invoice Date Description Amount
210122167 01/24/2023 AJA 1TB Storage; Sony 1.2TB cartridge; 4-pin Cable $1,599.02
210003534 01/21/2023 Rosco Cinegel #3028 Filter - 1/4 Tough White
Diffusion - 48"x25'
$166.18
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,765.20
36281 02/10/2023 Open Accounts Payable BARONE, DAN $55.00
Invoice Date Description Amount
DanB12182022 12/18/2022 Cell Phone Reimbursement 11/19/22-12/18-22 $55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
36282 02/10/2023 Open Accounts Payable BKF Engineers $2,907.10
Invoice Date Description Amount
23010844 01/23/2023 Pumpkin-Fiesta Storm Drain through 112822-123122 $2,907.10
Paying Fund Cash Account Amount
210 - Storm Drain Improvement 210 100-100 (Cash & Investments Assets Operating
Cash)
$2,907.10
36283 02/10/2023 Open Accounts Payable CAROL KORADE $29.13
Invoice Date Description Amount
February2023 02/08/2023 Reimbursement for February 2023 $29.13
Monday, February 13, 2023Pages: 12 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
284
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
642 - Retiree Medical 642 100-100 (Cash & Investments Assets Operating
Cash)
$29.13
36284 02/10/2023 Open Accounts Payable CITIZENSERVE $2,000.00
Invoice Date Description Amount
4942 01/14/2023 Citizenserve 5 user subscriptions May 1 - June 30,
2023)
$2,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,000.00
36285 02/10/2023 Open Accounts Payable CLEARBLU ENVIRONMENTAL $1,053.51
Invoice Date Description Amount
28687 01/18/2023 Streets - Jan 2023 Preventive Maint/Pressure Wash
Hose
$1,053.51
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,053.51
36286 02/10/2023 Open Accounts Payable CSG Consultants, Inc.$625.00
Invoice Date Description Amount
B222243 - Rev. 1 01/28/2023 Building Plan Review Services 12/1/2022 - 12/31/2022 $625.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$625.00
36287 02/10/2023 Open Accounts Payable Cupertino Supply, Inc $797.05
Invoice Date Description Amount
311584 01/24/2023 Facilities - 1" Solder Kit $13.77
311285 01/19/2023 Facilities - 1/2xCLO Brass Nipple, Metaflex LAV Riser $17.34
311287 01/19/2023 Facilities - Ferrule Puller $37.88
311979 01/27/2023 Grounds - Adapter, Street Elbow, Pipe, Cutter, Flux $627.01
311808 01/25/2023 Grounds - 3/4 PVC SCH40 Pipe $49.24
312270 01/31/2023 Grounds - Gloves $14.59
312461 02/01/2023 Grounds - 1/2 IPS Ball Valve $37.22
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$797.05
36288 02/10/2023 Open Accounts Payable Cyxtera Communications, LLC $1,195.14
Invoice Date Description Amount
B1-2322522 02/01/2023 FY23 Colocation Services - March 2023 $1,195.14
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$1,195.14
36289 02/10/2023 Open Accounts Payable Dasher Technologies, Inc.$9,392.40
Invoice Date Description Amount
PSI-DSH03608 01/27/2023 PAN PA-850 Renewal - 1 Year Support $9,392.40
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$9,392.40
Monday, February 13, 2023Pages: 13 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
285
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36290 02/10/2023 Open Accounts Payable Ecological Concerns Incorporated $1,245.00
Invoice Date Description Amount
29973 02/01/2023 Stevens Creek Ph 2 Restoration Continued
Maintenance thru 01232
$1,245.00
Paying Fund Cash Account Amount
427 - Stevens Creek Corridor Park 427 100-100 (Cash & Investments Assets Operating
Cash)
$1,245.00
36291 02/10/2023 Open Accounts Payable FolgerGraphics $8,679.92
Invoice Date Description Amount
134869 01/31/2023 Printing for Feb 23 Scene $8,679.92
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$8,679.92
36292 02/10/2023 Open Accounts Payable GRAINGER INC $137.52
Invoice Date Description Amount
9579022881 01/19/2023 Grounds - Drain Cleaning Set, Drain Cleaning Gloves $137.52
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$137.52
36293 02/10/2023 Open Accounts Payable Green Halo Systems $1,674.00
Invoice Date Description Amount
4027 01/11/2023 Hosting & Maint Jan to Jun. 2023, Monthly City Fee for
service
$1,674.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,674.00
36294 02/10/2023 Open Accounts Payable Gym Precision, Inc.$225.00
Invoice Date Description Amount
18623 02/03/2023 Quarterly Preventative Maintenance was performed on
all gym equi
$225.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$225.00
36295 02/10/2023 Open Accounts Payable Health Care Employees $29,032.20
Invoice Date Description Amount
326584 - 326586 02/07/2023 February 2023 Dental Benefit $29,032.20
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$29,032.20
36296 02/10/2023 Open Accounts Payable IMPEC GROUP INC,.$91,435.60
Invoice Date Description Amount
2301133 01/31/2023 Facilities - Linda Vista Trail Gate Jan 2023 $760.41
2301140 01/31/2023 Facilities - Jan 2023 Janitorial Services $90,675.19
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$81,799.74
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$1,267.41
Monday, February 13, 2023Pages: 14 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
286
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$8,368.45
36297 02/10/2023 Open Accounts Payable Interstate Traffic Control Products,
Inc.
$9,333.80
Invoice Date Description Amount
254731 01/30/2023 Streets - Band It Ultra-Lok Buckles, Temp Sign Stop $835.35
254732 01/30/2023 Streets: bike lane improvement project posts &
reflectors
$7,273.44
254959 02/03/2023 Streets: 2" pipe coupler $590.63
254419 12/14/2022 Streets - Special Order Ultra-Lok Banding Buckles $634.38
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$2,060.36
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$7,273.44
36298 02/10/2023 Open Accounts Payable JAM Services, Inc $6,820.31
Invoice Date Description Amount
164932 01/26/2023 Streets - Light Poles $6,820.31
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$6,820.31
36299 02/10/2023 Open Accounts Payable JINDY GARFIAS $55.00
Invoice Date Description Amount
JindyG121122 12/11/2022 Cell Phone Reimbursement - Jindy G 12-12-22 to 01-
11-23
$55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
36300 02/10/2023 Open Accounts Payable Life Insurance Company of North
America
$8,056.24
Invoice Date Description Amount
15487_020123 02/08/2023 February 2023 CIGNA $8,056.24
Paying Fund Cash Account Amount
641 - Compensated Absence/LTD 641 100-100 (Cash & Investments Assets Operating
Cash)
$8,056.24
36301 02/10/2023 Open Accounts Payable Managed Health Network Inc $785.51
Invoice Date Description Amount
PRM-078105 01/17/2023 February 2023 EAP BENEFIT $785.51
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$785.51
36302 02/10/2023 Open Accounts Payable Marlon Aumentado $55.00
Invoice Date Description Amount
MarlonA01152023 01/15/2023 Cell Phone Reimbursement through 121622-011523 $55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
Monday, February 13, 2023Pages: 15 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
287
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36303 02/10/2023 Open Accounts Payable Nexinite, LLC $180.00
Invoice Date Description Amount
INV-001967 02/06/2023 Form Digitization Service January 2023 $180.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$180.00
36304 02/10/2023 Open Accounts Payable ODP Business Solutions, LLC.$866.51
Invoice Date Description Amount
284832744001 01/04/2023 Service Center - Cups, Lids, Creamer $552.13
286596757001 01/04/2023 Service Center - Aldo Planners $54.41
285411879001 01/12/2023 Service Center - Note Pad, Planner, Dry Erase $54.77
283885240001 01/06/2023 Post-Its $17.45
283831034001 01/06/2023 Deskpad, CD spindle, Planner $48.40
287412550001 01/19/2023 service center kitchen supplies $42.89
290121421001 01/24/2023 service center kitchen supplies $37.58
287408362001 01/19/2023 service center kitchen supplies $58.88
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$866.51
36305 02/10/2023 Open Accounts Payable PayPal Inc.$112.20
Invoice Date Description Amount
PPGW128473872 12/31/2022 VSV0003096477 01-Dec-22 to 31-Dec-22
cupertinoweb4
$19.95
PPGW128666002 12/31/2022 VSV0001160385 cupertinoweb2 01-Dec-22 to 31-Dec-
22
$31.95
PPGW129513875 01/31/2023 VSV0003096477 cupertinoweb4 01-Jan-23 to 31-
Jan-23
$19.95
PPGW129703044 01/31/2023 VSV0001160385 cupertinoweb2 01-Jan-23 to 31-
Jan-23
$40.35
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$112.20
36306 02/10/2023 Open Accounts Payable Professional Turf Management, Inc.$18,693.56
Invoice Date Description Amount
1270 01/20/2023 Golf course monthly maintenance and gate fee $18,693.56
Paying Fund Cash Account Amount
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$18,693.56
36307 02/10/2023 Open Accounts Payable Quench USA, Inc.$90.88
Invoice Date Description Amount
INV05342771 02/01/2023 Service Center Water Cooler 02.01.23 to 03.31.23 $90.88
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$90.88
36308 02/10/2023 Open Accounts Payable Rise Housing Solutions, Inc $10,420.00
Invoice Date Description Amount
Cupertino - 021 01/31/2023 BMR Program Administrator 2023/01 $10,420.00
Paying Fund Cash Account Amount
Monday, February 13, 2023Pages: 16 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
288
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$10,420.00
36309 02/10/2023 Open Accounts Payable Robert Half $2,146.58
Invoice Date Description Amount
61496172 02/02/2023 Galante, Joanna for Week-Ended 01/27/2023 $2,146.58
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,146.58
36310 02/10/2023 Open Accounts Payable RUDY LOMAS $38.43
Invoice Date Description Amount
RudyL0106923 01/06/2023 Cell Phone Reimbursement - Rudy L Dec 7 2022 to
Jan 6 2023
$38.43
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$38.43
36311 02/10/2023 Open Accounts Payable Sedgwick Claims Management
Services, Inc.
$2,343.33
Invoice Date Description Amount
400000123006 02/01/2023 Workers' Compensation Claims 2/1/23-2/28/23 $2,343.33
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,343.33
36312 02/10/2023 Open Accounts Payable STANDS AND MOUNTS.COM $4,254.27
Invoice Date Description Amount
205224 12/22/2022 Cupertino Lectern Project $4,254.27
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,254.27
36313 02/10/2023 Open Accounts Payable TERRYBERRY COMPANY LLC $321.06
Invoice Date Description Amount
143069-30606 01/31/2023 Employee Recognition - C. Gomez, P. O'Sullivan $321.06
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$321.06
36314 02/10/2023 Open Accounts Payable THE HARTFORD $11,497.41
Invoice Date Description Amount
656349051824 02/08/2023 February 2023 Life and AD&D Benefit $11,215.20
756349096314 02/08/2023 January 2023 $282.21
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$11,497.41
36315 02/10/2023 Open Accounts Payable Thomson Reuters - West $767.55
Invoice Date Description Amount
847759352 02/01/2023 Online Subscription, Feb 2023 - Acct 1000489718 $767.55
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$767.55
Monday, February 13, 2023Pages: 17 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
289
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36316 02/10/2023 Open Accounts Payable TURF STAR, INC.$243.12
Invoice Date Description Amount
7262415-01 02/02/2023 Fleet - Decal HOC, REAR $243.12
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$243.12
36317 02/10/2023 Open Accounts Payable Vision Service Plan (CA)$4,190.50
Invoice Date Description Amount
817021065 01/19/2023 February 2023 Vision Benefit $2,352.96
817021074 01/19/2023 February 2023 Vision Benefit $938.84
817033781 01/21/2023 February 2023 Vision Benefit $898.70
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,190.50
36318 02/10/2023 Open Accounts Payable VMI, Inc.$515.47
Invoice Date Description Amount
305320 01/18/2023 VM-2HXL Kramer HDMI Distributor $261.35
305376 01/31/2023 VMI (Extron Parts for Senior Center Project)$254.12
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$515.47
36319 02/10/2023 Open Accounts Payable West Coast Arborists, Inc.$2,076.00
Invoice Date Description Amount
1-8746 02/03/2023 Behind 19333 Vallco Pkwy Construction Impact Report
Preparation
$2,076.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$2,076.00
36320 02/10/2023 Open Accounts Payable Zayo Group, LLC $3,136.05
Invoice Date Description Amount
2023020030583 02/01/2023 FY23 Disaster Recovery Telecom services Feb. 2023 $3,136.05
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$3,136.05
36321 02/10/2023 Open Accounts Payable Zoom Video Communications, Inc.$286.72
Invoice Date Description Amount
INV185288437 01/22/2023 Zoom Jan 22, 2023-Feb 21, 2023 $286.72
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$286.72
Type EFT Totals:54 Transactions $1,408,385.11
Main Account - Main Checking Account Totals
Checks Status Count Transaction Amount Reconciled Amount
Open 60 $1,722,697.05 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 60 $1,722,697.05 $0.00
Monday, February 13, 2023Pages: 18 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
290
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
EFTs Status Count Transaction Amount Reconciled Amount
Open 54 $1,408,385.11 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 54 $1,408,385.11 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 114 $3,131,082.16 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 114 $3,131,082.16 $0.00
Grand Totals:
Checks Status Count Transaction Amount Reconciled Amount
Open 60 $1,722,697.05 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 60 $1,722,697.05 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 54 $1,408,385.11 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 54 $1,408,385.11 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 114 $3,131,082.16 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 114 $3,131,082.16 $0.00
Monday, February 13, 2023Pages: 19 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/4/2023 - To Payment Date: 2/10/2023
291
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Main Account - Main Checking Account
Check
731997 02/17/2023 Open Accounts Payable 4imprint, Inc.$1,635.57
Invoice Date Description Amount
24443084 02/08/2023 Carabiner Sunscreen $1,635.57
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,635.57
731998 02/17/2023 Open Accounts Payable ALHAMBRA $303.63
Invoice Date Description Amount
14628570 122922 12/29/2022 Blackberry Farm Water Delivery 12-16-22 $127.82
14628570 012623 01/26/2023 Blackberry Farm Water Delivery 1-13-23 $175.81
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$303.63
731999 02/17/2023 Open Accounts Payable American Steam Cleaning $2,200.00
Invoice Date Description Amount
19645 02/01/2023 Facilities - Steam Clean Flues, Vents, Hood, Kitchen $2,200.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,200.00
732000 02/17/2023 Open Accounts Payable Automatic Door Systems, Inc.$3,390.00
Invoice Date Description Amount
54739 01/24/2023 Facilities - Senior Center Entrance Sliding Doors $3,390.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,390.00
732001 02/17/2023 Open Accounts Payable Bay Area Pervious Concrete $2,886.41
Invoice Date Description Amount
2022-065 11/29/2022 Grounds - Retention for McClellan Ranch Park Path
Repairs
$2,886.41
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,886.41
732002 02/17/2023 Open Accounts Payable BMI Imaging Systems $14,216.60
Invoice Date Description Amount
318939-A 12/30/2022 HR File Scanning Services $14,216.60
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$14,216.60
732003 02/17/2023 Open Accounts Payable BURR PLUMBING AND PUMPING
INC
$1,279.85
Invoice Date Description Amount
113343 01/11/2023 Facilities - Installed Non-Functioning Simplex Lift
Station
$1,279.85
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,279.85
Tuesday, February 21, 2023Pages: 1 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
292
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
732004 02/17/2023 Open Accounts Payable California Building Officials $295.00
Invoice Date Description Amount
16160 02/09/2023 CALBO Annual Membership Renewal 2023-2024 $295.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$295.00
732005 02/17/2023 Open Accounts Payable CenturyLink $38.16
Invoice Date Description Amount
047R -2/7/23 02/07/2023 Emergency Out of Area Phone line $38.16
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$38.16
732006 02/17/2023 Open Accounts Payable Claudio Bono $107.00
Invoice Date Description Amount
01312023 01/31/2023 Refund the difference between the deposit amount
$2820.00
$107.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$107.00
732007 02/17/2023 Open Accounts Payable Cupertino Union School District $8,705.80
Invoice Date Description Amount
AM23-00166 02/13/2023 Clean Water Storm Protection Fee Reimbursement-
FY21-22
$8,705.80
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$8,705.80
732008 02/17/2023 Open Accounts Payable DEPARTMENT OF JUSTICE $256.00
Invoice Date Description Amount
633176 02/03/2023 Fingerprint Apps Jan 2023 $256.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$256.00
732009 02/17/2023 Open Accounts Payable Department of Transportation $647.95
Invoice Date Description Amount
SL230471 01/30/2023 Signals & Lighting Billing through 102022-122022 $647.95
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$647.95
732010 02/17/2023 Open Accounts Payable ENTERPRISE FM TRUST $572.73
Invoice Date Description Amount
FBN4673199 02/04/2023 Fleet - Feb 2023/2021 Ford Escape Vin# 79773 $572.73
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$572.73
732011 02/17/2023 Open Accounts Payable Foster Brothers Security Systems $1,420.64
Invoice Date Description Amount
i3191 08/24/2022 Facilities - First Choice Trim $1,420.64
Paying Fund Cash Account Amount
Tuesday, February 21, 2023Pages: 2 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
293
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$1,420.64
732012 02/17/2023 Open Accounts Payable Got Gophers, Inc.$310.00
Invoice Date Description Amount
40433 01/31/2023 Trees/ROW - Jan 2023 Mary Bridge Maint.$310.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$310.00
732013 02/17/2023 Open Accounts Payable Govind Tatachari $107.00
Invoice Date Description Amount
01312023 01/31/2023 Refund the difference between the deposit amount
$2820.00
$107.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$107.00
732014 02/17/2023 Open Accounts Payable Griffin Structures Inc.$700.00
Invoice Date Description Amount
GSI-CLEP-25 10/31/2022 Library Expansion Project $700.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$700.00
732015 02/17/2023 Open Accounts Payable HARRY L. MURPHY, INC.$2,000.00
Invoice Date Description Amount
26378-01 02/09/2023 Facilities - Retention Due/City Hall Carpet
Replacement
$2,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,000.00
732016 02/17/2023 Open Accounts Payable HY Floor & Gameline Painting $1,830.95
Invoice Date Description Amount
22250-RET 01/13/2023 Facilities - Sports Center Racquetball Court Refinishing $858.95
22249-RET 01/06/2023 Facilities - QCC Stage Floor Refinishing $972.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$972.00
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$858.95
732017 02/17/2023 Open Accounts Payable INTERSTATE BATTERY SYSTEM
SAN JOSE INC.
$1,488.11
Invoice Date Description Amount
60291710 02/01/2023 Fleet - MTP-65HD $142.40
10306007 01/03/2023 Fleet - 31-MHD $257.36
60291721 02/02/2023 Fleet - GC8-HCL-UTL $942.79
60291808 02/07/2023 Fleet - SP-40 $145.56
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$1,488.11
Tuesday, February 21, 2023Pages: 3 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
294
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
732018 02/17/2023 Open Accounts Payable Joseph R Fruen $107.00
Invoice Date Description Amount
01312023 01/31/2023 Refund the difference between the deposit amount
$2820.00
$107.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$107.00
732019 02/17/2023 Open Accounts Payable KELLY-MOORE PAINT CO INC $554.35
Invoice Date Description Amount
808-00000865364 02/06/2023 Grounds - Workt Handle, Whizz Microfiber, Artist Set,
Paint
$554.35
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$554.35
732020 02/17/2023 Open Accounts Payable Liang Chao $107.00
Invoice Date Description Amount
01312023 01/31/2023 Refund the difference between the deposit amount
$2820.00
$107.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$107.00
732021 02/17/2023 Open Accounts Payable MIN ZHAO $112.00
Invoice Date Description Amount
Zhao020123 02/01/2023 2023 CSMFO Conf - Min Reimbursement $112.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$112.00
732022 02/17/2023 Open Accounts Payable MMANC $75.00
Invoice Date Description Amount
7249 02/08/2023 Marilyn Membership Renewal - Member (through
March 24, 2024)
$75.00
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$75.00
732023 02/17/2023 Open Accounts Payable Moon Kyu Choe $107.00
Invoice Date Description Amount
01312023 01/31/2023 Refund the difference between the deposit amount
$2820.00
$107.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$107.00
732024 02/17/2023 Open Accounts Payable Mountain View Garden Center $390.56
Invoice Date Description Amount
112297 02/07/2023 Grounds - Topsoil, Planter Mix $124.35
112334 02/10/2023 Grounds - 1/2 Yd 6 Sack $266.21
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$390.56
Tuesday, February 21, 2023Pages: 4 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
295
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
732025 02/17/2023 Open Accounts Payable O'Reilly Auto Parts $195.80
Invoice Date Description Amount
2591-267489 01/23/2023 Fleet - Cabin Filter $84.79
2591-267710 01/24/2023 Fleet - Tail LGT Asy $111.01
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$195.80
732026 02/17/2023 Open Accounts Payable Operating Engineers Local Union No.
3
$1,443.48
Invoice Date Description Amount
02102023 02/10/2023 Union Dues pp 1/28/23-2/10/23 $1,443.48
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,443.48
732027 02/17/2023 Open Accounts Payable Otis Elevator Company $9,099.48
Invoice Date Description Amount
100400914768 09/12/2022 Facilities - Civic Center Library Maint 10-1-22 to 9-30-
23
$9,099.48
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$9,099.48
732028 02/17/2023 Open Accounts Payable REED & GRAHAM INC $472.50
Invoice Date Description Amount
047850 01/26/2023 Streets: Pecpatch cold mix $472.50
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$472.50
732029 02/17/2023 Open Accounts Payable Royal Coach Tours $1,090.00
Invoice Date Description Amount
25760 02/14/2023 Charter 25760 3/1/2023 Westfield Mall and Orpheum
Theater
$1,090.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,090.00
732030 02/17/2023 Open Accounts Payable RPM EXTERMINATORS INC $1,275.00
Invoice Date Description Amount
0099199 01/30/2023 Facilities - Jan 2023 Change Bait $1,275.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,020.00
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$255.00
732031 02/17/2023 Open Accounts Payable SAN JOSE WATER COMPANY $33,070.21
Invoice Date Description Amount
SJW012723-0 01/27/2023 1198300000-8 - 21979 San Fernando Ave. 6620 $350.69
SJW012723-1 01/27/2023 1332100000-5 - Hyde Avenue $442.13
SJW012723-2 01/27/2023 2958510000-0 - 10555 Mary Ave.$310.49
SJW012723-3 01/27/2023 2974010000-2 - 21251 Stevens Creek Blvd $379.51
Tuesday, February 21, 2023Pages: 5 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
296
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
SJW012723-4 01/27/2023 3207400000-4 - 21710 McClellan 8312 $377.60
SJW012723-5 01/27/2023 3953083125-2 - Tuscany Pl $640.14
SJW012723-6 01/27/2023 4012210000-7 - 22601 Voss Av 8304 $605.67
SJW012723-7 01/27/2023 4444250747-9 - Tuscany Pl $604.38
SJW012723-8 01/27/2023 5122900000-8 - Portable Meter - Trees & ROW $539.25
SJW012723-9 01/27/2023 5237400000-9 - Dumas Dr, LS $588.07
SJW012723-10 01/27/2023 5997110000-9 - 7555 Barnhart Pl $556.78
SJW012723-11 01/27/2023 6730700000-9 - 21975 San Fernando Av $102.30
SJW012723-12 01/27/2023 8427420000-9 - 8322 Foothill/Vista Knoll $197.13
SJW012723-13 01/27/2023 8549600000-2 - Bubb Rd.LS $617.54
SJW012723-1-0 01/27/2023 0068410000-1 - 22221 McClellan 8302 $2,642.10
SJW012723-1-1 01/27/2023 0134100000-6 - 8303 Memorial Park $540.86
SJW012723-1-2 01/27/2023 0345710000-0 - Alderbrook Ln.FS $145.91
SJW012723-1-3 01/27/2023 0677310000-0 - 10300 Torre Ave LS (Comm.Hall)$316.80
SJW012723-1-4 01/27/2023 1250520000-1 - 6620 Blackberry/Snack $323.76
SJW012723-1-5 01/27/2023 1444810000-9 - Hyannisport Dr. LS $634.11
SJW012723-1-6 01/27/2023 1735700000-3 - 8303 Memorial Park Restroom $336.09
SJW012723-1-7 01/27/2023 1787904559-3 - 22221 McClellan 8302 $209.18
SJW012723-1-8 01/27/2023 1832500000-0 - Ruppell PL LS $335.95
SJW012723-1-9 01/27/2023 1836700000-9 - 8322 Mary Mini Park $333.03
SJW012723-1-10 01/27/2023 1987700000-0 - Alderbrook Ln LS $588.07
SJW012723-1-11 01/27/2023 2228610000-7 - 21111 Stevens Crk LS $385.73
SJW012723-1-12 01/27/2023 2243500000-9 - 10300 Ainsworth Dr.LS $5,069.70
SJW012723-1-13 01/27/2023 2286120000-8 - 21251 Stevens Creek Blvd $92.06
SJW012723-1-14 01/27/2023 2288800000-1 - Stokes Ave/8306 Somerset Park $368.26
SJW012723-1-15 01/27/2023 2649300000-9 - 10300 Torre Ave. FS (Comm.Hall)$145.91
SJW012723-1-16 01/27/2023 2787197813-9 - 8322 Stevens Creek Bl $99.35
SJW012723-1-17 01/27/2023 2892070144-9 - 22221 McClellan 8320 $184.13
SJW012723-1-18 01/27/2023 2984810000-3 - 8504 Alves and Stelling $348.49
SJW012723-1-19 01/27/2023 3322910000-4 - 8306 Somerset Park(Stokes Ave)$368.26
SJW012723-1-20 01/27/2023 3530520000-4 - 21111 Stev.Crk Blvd 8510 $416.75
SJW012723-1-21 01/27/2023 3612707315-7 - Stocklmeir Ct $1,421.86
SJW012723-1-22 01/27/2023 3673220000-5 - Stev.Crk/Cupertino Rd.$99.35
SJW012723-1-23 01/27/2023 3746710000-6 - 21111 Stev.Crk BL FS $144.67
SJW012723-1-24 01/27/2023 3841010000-2 - 8507 Monta Vista Park $354.82
SJW012723-1-25 01/27/2023 3856110000-9 - 8322 Stella Estates $102.30
SJW012723-1-26 01/27/2023 3857710000-1 - 8322 Foothill/Cupertino Rd $53.48
SJW012723-1-27 01/27/2023 3900520000-9 - 10300 Torre Ave $642.47
SJW012723-1-28 01/27/2023 4103020000-4 - 6620 Blackberry/Snack $418.62
SJW012723-1-29 01/27/2023 4227520000-6 - 8303 Memorial Park $311.26
SJW012723-1-30 01/27/2023 5356310000-6 - 8322 Stev.Crk/Median $314.42
SJW012723-1-31 01/27/2023 5778910000-5 - 8504 Quinlan Ln.FS $92.06
SJW012723-1-32 01/27/2023 5835000000-4 - 8322 Stelling/Alves $191.26
SJW012723-1-33 01/27/2023 5929210000-1 - 8322 Ann Arbor Ct $191.26
SJW012723-1-34 01/27/2023 5948100000-4 - Emerg Irrig/Golf/ 6640 BBF $1,393.63
SJW012723-1-35 01/27/2023 5986710000-6 - 10300 Torre Ave. FS (Comm.Hall)$623.78
SJW012723-1-36 01/27/2023 6292600000-1 - 10800 Torre Ave LS $575.60
SJW012723-1-37 01/27/2023 6296810000-8 - 8322 Stev.Crk Bl median $116.37
SJW012723-1-38 01/27/2023 6405210000-1 - 8506 McClellan Ranch $229.89
SJW012723-1-39 01/27/2023 6578520000-0 - 83 Foothill Bl/Alpine Dr22 LS $197.13
Tuesday, February 21, 2023Pages: 6 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
297
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
SJW012723-1-40 01/27/2023 6788620000-4 - 10555 Mary Ave. 8503 $351.66
SJW012723-1-41 01/27/2023 6907100000-9 - Alderbrook Ln $236.59
SJW012723-1-42 01/27/2023 6935200000-9 - 8303 Memorial Park $398.12
SJW012723-1-43 01/27/2023 6973320000-5 - 8301 Linda Vista PK1 $354.82
SJW012723-1-44 01/27/2023 7036000000-7 - 85 Stev.Crk/Mary LS $202.99
SJW012723-1-45 01/27/2023 7054200000-8 - 8322 Phar Lap LS $431.54
SJW012723-1-46 01/27/2023 7495200000-3 - 10300 Torre Ave FS $145.91
SJW012723-1-47 01/27/2023 7630410000-1 - Salem Av.LS $197.13
SJW012723-1-48 01/27/2023 7930000000-1 - 8322 Stelling/Christensen Dr.$191.26
SJW012723-1-49 01/27/2023 8006810000-9 - 10450 Mann Dr $76.67
SJW012723-1-50 01/27/2023 8065700000-8 - Peninsula and Fitzgerald Is $70.56
SJW012723-1-51 01/27/2023 8270010000-9 - Janice Ave.LS $368.26
SJW012723-1-52 01/27/2023 8287220000-9 - 8322 Stevens Cr/San Antonio Ls $139.80
SJW012723-1-53 01/27/2023 8647520000-1 - 10555 Mary Ave/Corp Yard FS $236.69
SJW012723-1-54 01/27/2023 8755010000-9 - 10455 Miller Ave/Creekside $618.22
SJW012723-1-55 01/27/2023 8879620000-9 - 8504 Christensen Dr $336.09
SJW012723-1-56 01/27/2023 8886800000-6 - 8301 Linda Vista PK2 $323.76
SJW012723-1-57 01/27/2023 9377600000-7 - 8307 Varian Park $466.44
SJW012723-1-58 01/27/2023 9824500000-9 - 8322 Irrig SC/Stelling $253.29
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$30,729.43
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$1,393.63
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$947.15
732032 02/17/2023 Open Accounts Payable Santa Clara County Emergency
Managers Association
$89.57
Invoice Date Description Amount
230131 01/31/2023 Annual membership dues $89.57
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$89.57
732033 02/17/2023 Open Accounts Payable Sheila Mohan $107.00
Invoice Date Description Amount
01312023 01/31/2023 Refund the difference between the deposit amount
$2820.00
$107.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$107.00
732034 02/17/2023 Open Accounts Payable Sherrill Inc.$425.58
Invoice Date Description Amount
INV-833575 02/06/2023 Trees/ROW - Notch Speedline Kit Combo (6x26" &
6x40")
$425.58
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$425.58
Tuesday, February 21, 2023Pages: 7 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
298
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
732035 02/17/2023 Open Accounts Payable SRIXON / Cleveland Golf / XXIO $806.40
Invoice Date Description Amount
7303393 SO 02/02/2023 Q-star tour divide golf balls $806.40
Paying Fund Cash Account Amount
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$806.40
732036 02/17/2023 Open Accounts Payable Steven Scharf $107.00
Invoice Date Description Amount
01312023 01/31/2023 Refund the difference between the deposit amount
$2820.00
$107.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$107.00
732037 02/17/2023 Open Accounts Payable Syserco, Inc.$4,213.25
Invoice Date Description Amount
11882 02/06/2023 Facilities - Sports Center Preventative Maint.$4,213.25
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$4,213.25
732038 02/17/2023 Open Accounts Payable The Computing Technology Industry
Association, Inc
$4,200.00
Invoice Date Description Amount
118,195 01/01/2023 Teri - Certified Government CIO Program reg 6/1/23 -
5/31/24
$4,200.00
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$4,200.00
732039 02/17/2023 Open Accounts Payable The Goodyear Tire & Rubber
Company
$2,041.24
Invoice Date Description Amount
189-1109744 01/24/2023 Fleet - Tires $2,041.24
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$2,041.24
732040 02/17/2023 Open Accounts Payable The Home Depot Pro $430.28
Invoice Date Description Amount
730200805 02/07/2023 Facilities - Complete Rebuild Kit F/Sloan $430.28
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$430.28
732041 02/17/2023 Open Accounts Payable The Pin Center $4,144.50
Invoice Date Description Amount
1122013 11/29/2022 Cupertino Store Challenge Coin $4,144.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,144.50
Tuesday, February 21, 2023Pages: 8 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
299
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
732042 02/17/2023 Open Accounts Payable Western Pacific Signal, LLC $6,148.10
Invoice Date Description Amount
29291 02/02/2023 Hardened Ethernet Switch, Managed Light Layer,
Gigabit Ethernet
$6,148.10
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$6,148.10
732043 02/17/2023 Open Accounts Payable ANURAG JAIN $446.00
Invoice Date Description Amount
320678 02/03/2023 REFUND 20220 LYNTON CT BLD-2022-0501 USER
ERROR
$446.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$446.00
732044 02/17/2023 Open Accounts Payable BNBUILDERS, INC.$766.30
Invoice Date Description Amount
315313 02/07/2023 REFUND 20525 MARIANI AVE BLD-2022-1211
WITHDRAWN
$766.30
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$766.30
732045 02/17/2023 Open Accounts Payable Dee, Maria $300.00
Invoice Date Description Amount
2006975.030 02/09/2023 QCC- 2.04.23- Social Room Security Deposit Refund $300.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$300.00
732046 02/17/2023 Open Accounts Payable HATHAWAY DINWIDDIE
CONSTRUCTION COMPANY
$10,000.00
Invoice Date Description Amount
307934 02/13/2023 REFUND 10261 BUBB RD BLD-2021-1804 TCO
BOND
$10,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$10,000.00
732047 02/17/2023 Open Accounts Payable HSU, TRACY $5,000.00
Invoice Date Description Amount
279368 02/13/2023 18811 LOREE AVE, ENCROACHMENT, 279368 $5,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,000.00
732048 02/17/2023 Open Accounts Payable Jose Ramirez $43.00
Invoice Date Description Amount
Ramirez020823 02/08/2023 LiveScan and Fingerprinting Reimbursement $43.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$43.00
Tuesday, February 21, 2023Pages: 9 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
300
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
732049 02/17/2023 Open Accounts Payable TESLA $309.08
Invoice Date Description Amount
316514 02/01/2023 REFUND 10959 NORTHSHORE SQ BLD-2022-1958
WITHDRAWN
$309.08
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$309.08
732050 02/17/2023 Open Accounts Payable TRITEK CONSTRUCTION, INC.$144.00
Invoice Date Description Amount
313521 02/02/2023 REFUND 20735 STEVENS CREEK BLVD BLD-2022-
1434 WITHDRAWN
$144.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$144.00
732051 02/17/2023 Open Accounts Payable Dasher Technologies, Inc.$17,008.55
Invoice Date Description Amount
PSI-DSH03658 01/31/2023 FY23 Infrastructure Support - January 2023 $125.00
PSI-DSH03816 02/10/2023 City Hall HPE SimpliVity Renewal - 1 Year Support $16,883.55
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$17,008.55
Type Check Totals:55 Transactions $149,220.63
EFT
36324 02/14/2023 Open Accounts Payable TASC $261.26
Invoice Date Description Amount
IN2657990 02/11/2023 FSA - Administration Fees 2/1/23-2/28/23 $261.26
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$261.26
36325 02/14/2023 Open Accounts Payable TASC $501.12
Invoice Date Description Amount
IN2657988 02/11/2023 HRA - Administration Fees 2/1/23-2/28/23 $501.12
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$501.12
36326 02/17/2023 Open Accounts Payable Colonial Life & Accident Insurance $29.16
Invoice Date Description Amount
02102023 02/10/2023 Colonial Products pp 1/28/23-2/10/23 $29.16
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$29.16
36327 02/17/2023 Open Accounts Payable Employment Development $8,222.97
Invoice Date Description Amount
02102023 02/10/2023 State Disability Insurance pp 1/28/23-2/10/23 $8,222.97
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$8,222.97
Tuesday, February 21, 2023Pages: 10 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
301
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36328 02/17/2023 Open Accounts Payable National Deferred (ROTH)$8,864.89
Invoice Date Description Amount
02102023 02/10/2023 Nationwide Roth pp 1/28/23-2/10/23 $8,864.89
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$8,864.89
36329 02/17/2023 Open Accounts Payable National Deferred Compensatin $25,427.71
Invoice Date Description Amount
02102023 02/10/2023 Nationwide Deferred Compensation pp 1/28/23-
2/10/23
$25,427.71
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$25,427.71
36330 02/17/2023 Open Accounts Payable PERS-457K $16,257.13
Invoice Date Description Amount
02102023 02/10/2023 PERS pp 1/28/23-2/10/23 $16,257.13
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$16,257.13
36331 02/17/2023 Open Accounts Payable State Disbursement Unit $495.73
Invoice Date Description Amount
02102023 02/10/2023 Child Support pp 1/28/23-2/10/23 $495.73
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$495.73
36332 02/15/2023 Open Accounts Payable USPS - EFT ONLY $269.44
Invoice Date Description Amount
276253958 02/15/2023 USPS Marketing Mail $269.44
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$269.44
36333 02/17/2023 Open Accounts Payable 3M COMPANY $11,968.45
Invoice Date Description Amount
9421047486 01/30/2023 Streets - Two-Way Yellow/Red, Two-Way Yellow, Two-
Way White/Red
$6,598.56
9421194326 02/07/2023 Streets - Reflective Sheeting 4090DS White, Sheeting
4083 Yellow
$5,369.89
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$11,968.45
36334 02/17/2023 Open Accounts Payable Advanced Systems Group LLC $9,700.00
Invoice Date Description Amount
11412 02/10/2023 ChyronHego Annual Maintenance Contract Renewal $9,700.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$9,700.00
Tuesday, February 21, 2023Pages: 11 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
302
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36335 02/17/2023 Open Accounts Payable Air Products Group, Inc.$6,845.98
Invoice Date Description Amount
135879 01/31/2023 Facilities - Pleated Filter $6,845.98
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$6,845.98
36336 02/17/2023 Open Accounts Payable Altec Industries, Inc.$290.08
Invoice Date Description Amount
12195462 01/19/2023 Fleet - Placard, Vinyl Cover, Bolron Tape $290.08
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$290.08
36337 02/17/2023 Open Accounts Payable Amazon Capital Services $224.60
Invoice Date Description Amount
11C7-YVVL-N7DC 01/23/2023 Amazon (Lilliput LCD Monitor for Cupertino Room
Lectern)
$204.04
1GWV-QXJG-V4FW 02/13/2023 1x Cat6 Ethernet Cable, 30 Feet (2 Pack) LAN, utp Cat
6, RJ45, N
$20.56
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$204.04
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$20.56
36338 02/17/2023 Open Accounts Payable Avocette Technologies Inc.$7,410.00
Invoice Date Description Amount
2301CU2 01/31/2023 Accela FY23 Configuration services - Jan. 2023 $7,410.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$7,410.00
36339 02/17/2023 Open Accounts Payable Bear Electrical Solutions, Inc.$8,377.50
Invoice Date Description Amount
17316 11/28/2022 Multiple Locations (3) Furnish & Install Loops $8,377.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$8,377.50
36340 02/17/2023 Open Accounts Payable BKF Engineers $10,128.56
Invoice Date Description Amount
23020192 02/06/2023 Jollyman Park Playground Restroom through 010123-
012923
$655.80
23020343 02/08/2023 Cupertino Lawrence Mitty Park Topo through 010123-
012923
$9,472.76
Paying Fund Cash Account Amount
280 - Park Dedication 280 100-100 (Cash & Investments Assets Operating
Cash)
$9,472.76
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$655.80
36341 02/17/2023 Open Accounts Payable BOSCO OIL INC DBA VALLEY OIL $14,533.82
Invoice Date Description Amount
143115 01/18/2023 Fleet - Diesel Fuel $5,719.42
Tuesday, February 21, 2023Pages: 12 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
303
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
143116 01/18/2023 Fleet - Gasoline $8,814.40
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$14,533.82
36342 02/17/2023 Open Accounts Payable BRIAN GATHERS $55.00
Invoice Date Description Amount
BrainG020423 02/04/2023 Cell Phone Reimbursement - Brian G 01.05.23 to
02.04.23
$55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
36343 02/17/2023 Open Accounts Payable California Commercial Fence $99,740.05
Invoice Date Description Amount
2578 02/13/2023 City of Cupertino Regnart Creek Trail $99,740.05
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$99,740.05
36344 02/17/2023 Open Accounts Payable CDW Government $340.14
Invoice Date Description Amount
GQ76636 02/08/2023 APC REPL BATTERY CARTRIDGE F/1500RM $340.14
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$340.14
36345 02/17/2023 Open Accounts Payable CoreLogic Solutions, LLC.$5,250.00
Invoice Date Description Amount
50032903 02/08/2023 Annual Fee Contract #165413, 12/1/22 6/3023 RQ2
Package
$5,250.00
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$5,250.00
36346 02/17/2023 Open Accounts Payable Cupertino Supply, Inc $606.94
Invoice Date Description Amount
312767 02/06/2023 Trees/ROW - Female/Male Adapter, Ball Valve, Elbow $606.94
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$606.94
36347 02/17/2023 Open Accounts Payable EDGES ELECTRICAL GROUP $712.82
Invoice Date Description Amount
S5780554.001 02/03/2023 Grounds - Three Oaks, McClellan Ranch Int-Mat 24Hr
30A
$712.82
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$712.82
36348 02/17/2023 Open Accounts Payable Eflex Group, Inc $4,396.42
Invoice Date Description Amount
02102023 02/10/2023 FSA Employee Health pp 1/28/23-2/10/23 $4,396.42
Paying Fund Cash Account Amount
Tuesday, February 21, 2023Pages: 13 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
304
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,396.42
36349 02/17/2023 Open Accounts Payable Environmental Innovations, Inc $2,310.00
Invoice Date Description Amount
1966 02/05/2023 Single-use foodware ordinance outreach- Jan 2023
service
$2,310.00
Paying Fund Cash Account Amount
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$2,310.00
36350 02/17/2023 Open Accounts Payable EPAC Technologies, Inc.$562.36
Invoice Date Description Amount
E353330 01/31/2023 Envelopes with logo $562.36
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$562.36
36351 02/17/2023 Open Accounts Payable GARDENLAND POWER
EQUIPMENT
$6,683.31
Invoice Date Description Amount
984784 01/25/2023 Fleet - Brake Band, Cover, Clutch, Chain, Cage, Filter,
Sprocket
$831.80
973474 11/29/2022 Streets - Reversible Vibroplate $5,851.51
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$5,851.51
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$831.80
36352 02/17/2023 Open Accounts Payable GRAINGER INC $2,977.20
Invoice Date Description Amount
9598785062 02/06/2023 Facilities - Drywall Vacuum Hand Sander $108.51
9598488246 02/06/2023 Facilities - Safety Switch $455.60
9600090568 02/07/2023 Streets - Sonde/Line Locator, Remote Transmitter $2,385.41
9606949312 02/13/2023 Service Center - Batteries for Cabinet $27.68
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$591.79
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$2,385.41
36353 02/17/2023 Open Accounts Payable Hi-C Battery LLC $1,431.00
Invoice Date Description Amount
PS-INV104159 01/24/2023 Electric Bicycle Maintenance $1,431.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,431.00
36354 02/17/2023 Open Accounts Payable IFPTE LOCAL 21 $1,913.61
Invoice Date Description Amount
02102023 02/10/2023 Association Dues - CEA pp 1/28/23-2/10/23 $1,913.61
Paying Fund Cash Account Amount
Tuesday, February 21, 2023Pages: 14 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
305
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,913.61
36355 02/17/2023 Open Accounts Payable Independent Code Consultants, Inc.$81,550.79
Invoice Date Description Amount
1721 02/01/2023 Building Plan Review Services - Westport 2023/01 $1,812.50
1720 02/01/2023 Building Plan Review Services - 2023/01 $79,738.29
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$81,550.79
36356 02/17/2023 Open Accounts Payable KEVIN GREENE $55.00
Invoice Date Description Amount
KevinG011823 01/18/2023 Cell Phone Reimbursement - Kevin G 12.19.22 to
01.18.23
$55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
36357 02/17/2023 Open Accounts Payable KIMBALL-MIDWEST $742.87
Invoice Date Description Amount
100711821 01/31/2023 Fleet -T-Bolt Clamp (225 & 300)$117.64
100735703 02/07/2023 Streets: PLANOGRAPH Self Tapping Screws $625.23
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$625.23
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$117.64
36358 02/17/2023 Open Accounts Payable KIMLEY-HORN AND ASSOCIATES,
INC.
$4,617.50
Invoice Date Description Amount
23716517 01/17/2023 DeAnza-McClellan Upgrade through 12312022 $4,617.50
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$4,617.50
36359 02/17/2023 Open Accounts Payable MissionSquare $15,510.86
Invoice Date Description Amount
02102023 02/10/2023 ICMA Deferred Comp pp 1/28/23-2/10/23 $15,510.86
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$15,510.86
36360 02/17/2023 Open Accounts Payable Moore Lacofano Goltsman, Inc.$1,255.91
Invoice Date Description Amount
0079369 02/13/2023 Cupertino I-280 Trail through 010123-013123 $1,255.91
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$1,255.91
36361 02/17/2023 Open Accounts Payable Nomad Transit LLC $69,102.98
Invoice Date Description Amount
INV001-7080 01/31/2023 Via Cupertino Shuttle through January 2023 $69,102.98
Paying Fund Cash Account Amount
Tuesday, February 21, 2023Pages: 15 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
306
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$69,102.98
36362 02/17/2023 Open Accounts Payable ODP Business Solutions, LLC.$86.54
Invoice Date Description Amount
288748727001 01/19/2023 Office Supplies $24.98
288723077001 01/19/2023 Kitchen and Office Supplies $45.25
290120465001 01/25/2023 Service Center - Kitchen Supplies Stirrer $16.31
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$86.54
36363 02/17/2023 Open Accounts Payable PARS/City of Cupertino $3,361.98
Invoice Date Description Amount
02102023 02/10/2023 PARS pp 1/28/23-2/10/23 $3,361.98
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,361.98
36364 02/17/2023 Open Accounts Payable Pavement Engineering Inc.$22,297.50
Invoice Date Description Amount
2301-075 02/08/2023 Construction Management & Inspection through
010123-013123
$6,020.00
2301-016 01/12/2023 Construction Management & Inspection through
120122-123122
$16,277.50
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$22,297.50
36365 02/17/2023 Open Accounts Payable PLAN JPA $55,082.49
Invoice Date Description Amount
PLAN-2023-0143 02/15/2023 General Liability Claims - January 2023 $55,082.49
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55,082.49
36366 02/17/2023 Open Accounts Payable R. Thomas Heck & Associates $26,264.00
Invoice Date Description Amount
106 02/06/2023 Cupertino Parks & Recreation Spring Brochure 2023 $26,264.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$26,264.00
36367 02/17/2023 Open Accounts Payable SCI Consulting Group $7,090.00
Invoice Date Description Amount
SBS10560 01/15/2023 Stormwater levy admin assessment FY22-23 $7,090.00
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$7,090.00
36368 02/17/2023 Open Accounts Payable Sonitrol/Pacific West Security, Inc.$235.00
Invoice Date Description Amount
69982 01/31/2023 Facilities - Trip Charge/Service Call $235.00
Paying Fund Cash Account Amount
Tuesday, February 21, 2023Pages: 16 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
307
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$235.00
36369 02/17/2023 Open Accounts Payable Staples $213.14
Invoice Date Description Amount
3528533418 01/24/2023 Office Supplies - Post It, Pen Refills, Envelopes,
Sharpener
$41.40
3528533419 01/24/2023 Service Center - Kitchen Supplies Creamer, Cocoa Mix $171.74
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$213.14
36370 02/17/2023 Open Accounts Payable Statewide Traffic Safety & Signs Inc.$403.08
Invoice Date Description Amount
05040007 02/15/2023 Streets - Cone Bar 6-10Ft Orange/White $124.17
05040006 02/15/2023 Streets - Black All Season Asphalt Patch $278.91
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$403.08
36371 02/17/2023 Open Accounts Payable The Home Depot Pro $152.75
Invoice Date Description Amount
730052479 02/07/2023 Facilities - Lavatory Mount Soap Dispenser $152.75
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$152.75
36372 02/17/2023 Open Accounts Payable TJKM $1,997.02
Invoice Date Description Amount
0053558 11/30/2022 Cupertino LRSP through 110122-113022 $1,997.02
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,997.02
36373 02/17/2023 Open Accounts Payable Trip Stop Sidewalk Repair Inc.$114,000.00
Invoice Date Description Amount
3766 12/21/2022 2022 Sidewalk Repair Project $114,000.00
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$114,000.00
36374 02/17/2023 Open Accounts Payable TURF STAR, INC.$999.39
Invoice Date Description Amount
7262415-00 01/18/2023 Fleet - Bearing, Decal, Spacer, V-Belt, Screw, Nut $999.39
Paying Fund Cash Account Amount
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$999.39
36375 02/17/2023 Open Accounts Payable US BANK $22,309.43
Invoice Date Description Amount
JJavier011623 01/16/2023 5617 CC Charges $35.00
BradA011623 01/16/2023 6013 cc charges $262.28
CyrahC011623 01/16/2023 0363 CC Charges $1,364.20
SelbyM011623 01/16/2023 1711 CC Charges $216.90
KimL01162023 01/16/2023 5169 CC Charges $300.00
Tuesday, February 21, 2023Pages: 17 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
308
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
RicA011623 01/16/2023 9906 CC Charges $184.23
JANETL11623 01/16/2023 9949 CC Charges $5,298.46
BrianG011623 01/16/2023 6202 CC Charges $769.29
JindyG011623 01/16/2023 0175 cc charges $519.98
KarenL011623 01/16/2023 9612CCCharges $722.06
JonF011623 01/16/2023 3969 cc charges $220.00
JerryA011623 01/16/2023 8636 cc charges $90.00
ShawnT011623 01/16/2023 7105 cc charges $404.94
NathanV011623 01/16/2023 4299 CC Charges $95.10
LeungK011623 01/16/2023 1733 CC Charges $131.91
KirstenS011623 01/16/2023 8069 CC Charges $52.15
MelissaR011623 01/16/2023 0572 CC Charges $795.63
DebraN011623 01/16/2023 1090 CC Charges $607.03
AraceliA011623 01/16/2023 0722 CC Charges, M. Woo $59.00
TyB011623 01/16/2023 7739 CC Charges $1,326.30
KavithaA011623 01/16/2023 7567 CC Charges $264.37
Branton011623 01/16/2023 5320 CC Charges $665.73
IkaP011623 01/16/2023 8108 cc charges $78.26
AndrewS011623 01/16/2023 9993 cc charges $652.23
KrisG011623 01/16/2023 6959 CC Charges $1,044.85
SundariP011623 01/16/2023 9702 CC Charges $204.71
Marilynp011623 01/16/2023 6763 CC Charges $1,489.07
RSander011623 01/16/2023 4371 CC Charges $28.89
RobertD011623 01/16/2023 6680 CC Charges $123.50
ReiD011623 01/16/2023 1409CC Charges $1,175.36
RandyV011623 01/16/2023 9138 CC Charges $646.03
RobertK011623 01/16/2023 7858 CC Charges $1,029.67
ChristL011623 01/16/2023 7456 CC Charges $373.39
mariah011623 01/16/2023 7882 CC CHARGES $607.45
AmandaH011623 01/16/2023 9326 CC Charges $433.95
AlexG011623 01/16/2023 1741 CC Charges $4.23
JasonB011623 01/16/2023 3965 CC Charges $33.28
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$15,192.31
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$404.94
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$1,374.15
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$291.20
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$307.50
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$845.56
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$607.45
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$2,555.83
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$730.49
Tuesday, February 21, 2023Pages: 18 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
309
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36376 02/17/2023 Open Accounts Payable WOWzy Creation Corp. dba First
Place
$58.33
Invoice Date Description Amount
95876 02/09/2023 Nameplate for new employee $58.33
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$58.33
Type EFT Totals:53 Transactions $684,173.81
Main Account - Main Checking Account Totals
Checks Status Count Transaction Amount Reconciled Amount
Open 55 $149,220.63 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 55 $149,220.63 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 53 $684,173.81 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 53 $684,173.81 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 108 $833,394.44 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 108 $833,394.44 $0.00
Grand Totals:
Checks Status Count Transaction Amount Reconciled Amount
Open 55 $149,220.63 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 55 $149,220.63 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 53 $684,173.81 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 53 $684,173.81 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 108 $833,394.44 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 108 $833,394.44 $0.00
Tuesday, February 21, 2023Pages: 19 of 19user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/11/2023 - To Payment Date: 2/17/2023
310
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Main Account - Main Checking Account
Check
732052 02/24/2023 Open Accounts Payable 4imprint, Inc.$1,206.28
Invoice Date Description Amount
24480613 02/14/2023 VRL 2023 Event Favors: Reusable Grocery Tote Bags $1,206.28
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,206.28
732053 02/24/2023 Open Accounts Payable ALHAMBRA $380.01
Invoice Date Description Amount
21589707 021623 02/16/2023 Service Center - Employee Drinking Water $348.12
4984902 021823 02/18/2023 BOTTOM LOAD HOT AND COLD COOLER WITH
SMARTFLO
$31.89
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$348.12
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$31.89
732054 02/24/2023 Open Accounts Payable American Assured Security, Inc.$269.50
Invoice Date Description Amount
49307 02/15/2023 Rental Security Services $269.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$269.50
732055 02/24/2023 Open Accounts Payable Anagha Kulkarni $140.00
Invoice Date Description Amount
022123 AK 02/21/2023 February Fitness Classes $140.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$140.00
732056 02/24/2023 Open Accounts Payable Asmita Deshpande $386.10
Invoice Date Description Amount
021723 AD 02/17/2023 payment for Winter 1 $386.10
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$386.10
732057 02/24/2023 Open Accounts Payable AT&T $9,770.04
Invoice Date Description Amount
000019474226 02/10/2023 9391051384 1/10/23-2/9/23 $2,555.22
000019482844 02/12/2023 9391023221 (408-253-9200) 1/12/23-2/11/23 $58.44
000019482846 02/12/2023 9391023223 1/12/23-2/11/23 $84.51
000019482940 02/12/2023 9391023218 (238-371-7141) 1/12/23-2/11/23 $69.11
000019482941 02/12/2023 9391023217 (237-361-8095) 1/12/23-2/11/23 $87.72
000019482942 02/12/2023 9391023216 (233-281-5494) 1/12/23-2/11/23 $70.69
000019482943 02/12/2023 9391023215 (233-281-4421) 1/12/23-2/11/23 $89.73
000019483811-0 02/12/2023 4087771305 | | 10185 N STELLING RD - Secure FAX $16.85
000019483811-1 02/12/2023 4087771306 | | 10185 N STELLING RD - Sheriff $16.79
000019483811-2 02/12/2023 4087771307 | | 10185 N STELLING RD - Sheriff $16.79
Monday, February 27, 2023Pages: 1 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
311
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
000019483811-3 02/12/2023 4087771311 | | 22221 MC CLELLAN RD -
Environmental Education Cen
$21.89
000019483811-4 02/12/2023 4087771318 | | 10555 MARY AV - Traffic Operating
Center on Franc
$32.79
000019483811-5 02/12/2023 4087771331 | | 21975 SAN FERNANDO AV - BBF-
Kiosk Alarm
$17.29
000019483811-6 02/12/2023 4087771340 | | 10555 MARY AV - Alarm- Service
Center
$16.98
000019483811-7 02/12/2023 4087771344 | | 21251 STEVENS CREEK BL - SEN -
FAX
$16.79
000019483811-8 02/12/2023 4087771345 - CH- PG&E Meter $16.94
000019483811-9 02/12/2023 4087771346 | | 21111 STEVENS CREEK BL -
SPORTS Center - HVAC Lin
$16.94
000019483811-10 02/12/2023 4087771348 | | 10555 MARY AV - Alarm- Service
Center
$18.04
000019483811-11 02/12/2023 4087771355 | | 10555 MARY AV - Mechanic Shop
FAX
$16.79
000019483811-12 02/12/2023 4087773102 | | 10185 N STELLING RD -
Museum/Spare
$16.79
000019483811-13 02/12/2023 4087773103 | | 10185 N STELLING RD -
Museum/Spare
$16.79
000019483811-14 02/12/2023 4087773109 - FAX $16.79
000019483811-15 02/12/2023 4087773112 | | 21111 STEVENS CREEK BL -
SPORTS- Fire Alarm
$18.34
000019483811-16 02/12/2023 4087773113 | | 21111 STEVENS CREEK BL -
SPORTS- Fire Alarm
$17.04
000019483811-17 02/12/2023 4087773137 | | 10185 N STELLING RD - FAX QCC $16.79
000019483811-18 02/12/2023 4087773143 | | 21975 SAN FERNANDO AV - BBF -
Retreat Alarm
$17.76
000019483811-19 02/12/2023 4087773145 | | 21975 SAN FERNANDO AV - BBF-
Alarm Golf Shed
$16.94
000019483811-20 02/12/2023 4087773156 | | 21251 STEVENS CREEK BL - SEN-
FAX Work Room
$16.79
000019483811-21 02/12/2023 4087773164 | | 21111 STEVENS CREEK BL - Sports
Fax
$16.94
000019483811-22 02/12/2023 4087773168 | | 21111 STEVENS CREEK BL - Sports
Center Elevator
$16.94
000019483811-23 02/12/2023 4087773254 | | 21975 SAN FERNANDO AV - BBF -
Golf Shed
$21.86
000019483811-24 02/12/2023 4087773258 | | 21975 SAN FERNANDO AV - BBF-
$ODUP&DIp
$16.79
000019483811-25 02/12/2023 4087773287 - Comm Hall - Alarm $18.21
000019483811-26 02/12/2023 4087773288 - Comm Hall - Fire Alarm $17.30
000019483811-27 02/12/2023 4087773293 - Comm Hall - Fire Alarm $16.79
000019483811-28 02/12/2023 4087773302 | | 21251 STEVENS CREEK BL - SEN-
Credit Card Front D
$16.79
000019483811-29 02/12/2023 4087773305 | | 21251 STEVENS CREEK BL - SEN-
Credit Card Front D
$16.79
000019483811-30 02/12/2023 4087773317 - CH- Finance CC VISA $16.94
000019483811-31 02/12/2023 4087773333 - CH- FAX downstairs $16.94
000019483811-32 02/12/2023 4087773365 | | 21251 STEVENS CREEK BL - RNA
FAX
$16.79
Monday, February 27, 2023Pages: 2 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
312
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
000019483811-33 02/12/2023 4087773369 | | 21251 STEVENS CREEK BL - SEN-
Alarm Line
$18.57
000019483811-34 02/12/2023 4087773370 | | 21251 STEVENS CREEK BL - SEN-
Alarm Line
$17.07
000019483811-35 02/12/2023 4087773372 | | 21251 STEVENS CREEK BL - Trane
Modem (HVAC)
$16.79
000019483811-36 02/12/2023 4087773387 | | 10555 MARY AV - FAX or Alarm $16.79
000019483811-37 02/12/2023 4087773388 | | 10555 MARY AV - FAX or Alarm $16.79
000019483811-38 02/12/2023 4087773399 | | 10555 MARY AV - FAX $16.96
000019483811-39 02/12/2023 4087773416 | | 21251 STEVENS CREEK BL - SEN-
Cr Card
$16.79
000019483811-40 02/12/2023 4087773419 | | 21251 STEVENS CREEK BL - SEN-
Cr Card
$16.79
000019482843-0 02/12/2023 City Clerk $27.55
000019482843-1 02/12/2023 4082558166 - Service Center Admin $27.50
000019482843-2 02/12/2023 City Hall $1,375.86
000019482843-3 02/12/2023 Service Center $112.31
000019482843-4 02/12/2023 Wilson Park $27.50
000019482843-5 02/12/2023 Street Maintenance $28.11
000019482843-6 02/12/2023 Monte Vista - 0720858144 $564.76
000019482843-7 02/12/2023 BBF Golf - 0720858146 $460.38
000019482843-8 02/12/2023 BBF Park $460.38
000019482843-9 02/12/2023 0720858348 -$895.45
000019482843-10 02/12/2023 0720858349 - 10229 North Portal Avenue $460.38
000019482843-11 02/12/2023 Teleconnect: BTN0720858350 $460.38
000019482843-12 02/12/2023 720858352 $564.76
000019482843-13 02/12/2023 Teleconnect: BTN0722762181 $564.76
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,556.79
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$58.44
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$188.41
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$3,949.61
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$16.79
732058 02/24/2023 Open Accounts Payable CALIFORNIA CONSULTING, INC.$612.75
Invoice Date Description Amount
5721 02/02/2023 Grant Writing Services AUG-DEC2022 $612.75
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$612.75
732059 02/24/2023 Open Accounts Payable Catholic Charities of Santa Clara
County
$1,679.50
Invoice Date Description Amount
CCOCDBGQ2FY2223 02/21/2023 General Fund HSG - Q2 $1,679.50
Paying Fund Cash Account Amount
Monday, February 27, 2023Pages: 3 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
313
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,679.50
732060 02/24/2023 Open Accounts Payable CINTAS CORP $2,053.26
Invoice Date Description Amount
4145835691 02/07/2023 Uniforms Safety Apparel $2,053.26
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,053.26
732061 02/24/2023 Open Accounts Payable HUICHEN LIN $741.00
Invoice Date Description Amount
022123 HL 02/21/2023 February Fitness Classes $741.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$741.00
732062 02/24/2023 Open Accounts Payable LEAGUE OF CALIFORNIA CITIES $19,549.00
Invoice Date Description Amount
643273 02/28/2023 Membership Dues for Calendar Year 2023 $19,549.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$19,549.00
732063 02/24/2023 Open Accounts Payable LIVE OAK ADULT DAY SERVICES $4,910.79
Invoice Date Description Amount
LvOkCDBGQ2FY2223 02/21/2023 Live Oak Q2 Public Service FY22-23 $4,910.79
Paying Fund Cash Account Amount
260 - CDBG 260 100-100 (Cash & Investments Assets Operating
Cash)
$4,910.79
732064 02/24/2023 Open Accounts Payable lnternational Institute of Municipal
Clerks/IIMC
$150.00
Invoice Date Description Amount
01122023 01/12/2023 Annual Membership for Lauren Sapudar $150.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$150.00
732065 02/24/2023 Open Accounts Payable MAITRI INC $5,504.16
Invoice Date Description Amount
MCDBGQ2FY2223 02/21/2023 General Fund HSG - Q2 $5,504.16
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,504.16
732066 02/24/2023 Open Accounts Payable Matthew Bender & Co., Inc.$274.01
Invoice Date Description Amount
35671386 01/20/2023 CA Deer Public Contract 2023 Supp. Package $274.01
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$274.01
Monday, February 27, 2023Pages: 4 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
314
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
732067 02/24/2023 Open Accounts Payable Mountain View Garden Center $192.99
Invoice Date Description Amount
112379 02/15/2023 Grounds - 1Yd Top Soil $53.42
112362 02/14/2023 Grounds - 2Yd Fill Sand $139.57
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$192.99
732068 02/24/2023 Open Accounts Payable Pamela Wu $30.94
Invoice Date Description Amount
PamelaWu110622 11/06/2022 UberToAirportForCCMFConference $30.94
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$30.94
732069 02/24/2023 Open Accounts Payable PG&E $41,553.32
Invoice Date Description Amount
0092-013123-0 01/31/2023 116367401 -Miller W/S N of Greenwood $16.38
0092-013123-1 01/31/2023 116367359 -Homestead and Heron, traffic control svc $69.00
0092-013123-2 01/31/2023 116367150 -Homestead and Wolfe Road, Sunnyvale $100.47
0092-013123-3 01/31/2023 116367155 -Homestead and Blaney, Cupertino Traffic
Signal, Sunny
$59.79
0092-013123-4 01/31/2023 116367275 -Homestead and Tantau, Cupertino Traffic
Signal, Sunny
$126.16
0092-013123-5 01/31/2023 116367013 -112017763 -11370 S Stelling Rd,
Irrigation Control
$6.79
0092-013123-6 01/31/2023 116644889 19500 Pruneridge ave pole TP16660 $6.79
0092-013123-7 01/31/2023 1110161867 - Wolfe Rd @ Apple Campus Driveway $68.56
0092-013123-8 01/31/2023 116367793 -101 Skyport Dr, DG A, San Jose,
PGandE-Owned St/Highw
$742.37
0092-013123-9 01/31/2023 110958527 115145264 -Randy Lane & Larry Way-
Streetlights
$58.31
0092-013123-10 01/31/2023 111736580 SF Cupertino 075 $4.09
0092-013123-11 01/31/2023 116367357 -N De Anza 188 FT N/Valley Green Dr,
Irrig Controller
$31.67
0092-013123-12 01/31/2023 116367907 -S/W Corner Stelling and Green leaf,
Traffic Signal
$81.73
0092-013123-13 01/31/2023 116367113 -Miller E/S 100N off Calle De Barcelona $70.64
0092-013123-14 01/31/2023 116367836 -De Anza Blvd E/S S/O Lazaneo, Sprinkler
Control
$10.18
0092-013123-15 01/31/2023 116367677 -De Anza and Lazaneo, Sprinkler System $10.18
0092-013123-16 01/31/2023 116367025 -De Anza and Lazaneo, Traffic Signal $87.62
0092-013123-17 01/31/2023 110659172 -N De Anza 455FT S/O Mariani Dr, Irrig
Control
$21.95
0092-013123-18 01/31/2023 116367035 -De Anza Blvd and Mariani, Traffic
Signal/Safety Lts
$95.48
0092-013123-19 01/31/2023 116367045 -De Anza Blvd and Hwy 280 S/Ramp,
Traffic Signal
$91.93
0092-013123-20 01/31/2023 116367050 -NW Corner Stevens Crk, Traffic Signals $75.97
0092-013123-21 01/31/2023 116367055 -Saich Wy and Stevens Crk NE Corner,
Traffic Signal
$71.26
Monday, February 27, 2023Pages: 5 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
315
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-013123-22 01/31/2023 116367060 -E37R0 Stevens Creek and De Anza Blvd,
Traffic Signal
$117.45
0092-013123-23 01/31/2023 116367065 -Stevens Creek Blvd E/Saich Wy, Sprinkler
Control
$10.73
0092-013123-24 01/31/2023 116367070 -Stevens Creek and Blaney Ave., Traffic
Signal
$84.17
0092-013123-25 01/31/2023 116367075 -Vallco Pkwy and Perimeter Rd., Traffic
Signals
$63.72
0092-013123-26 01/31/2023 116367090 -Wolfe and Vallco Pkwy, Traffic Signals $92.99
0092-013123-27 01/31/2023 116367100 -E37H3 Wolfe and 280 SB Loc B, Traffic
Signal
$85.23
0092-013123-28 01/31/2023 116367105 -Stevens Crk and Wolfe Rd, Traffic Signals $141.08
0092-013123-29 01/31/2023 116367110 -SW Cor Stevens Crk and Portal, Traffic
Signal
$78.05
0092-013123-30 01/31/2023 116367115 -Stevens Crk and Perimeter Rd, Traffic
Control Signal
$76.81
0092-013123-31 01/31/2023 116367120 -Vallco Prky/Tantau Ave, Traffic Signal $85.98
0092-013123-32 01/31/2023 116367125 -Stevens Crk and Tantau, Traffic Signals $81.27
0092-013123-33 01/31/2023 116367130 -NW Corner Steven Crk and Torre, Traffic
Signal
$86.50
0092-013123-34 01/31/2023 116367782 -N/S Stevens Creek Blvd in front of 20301,
Irrigation
$10.18
0092-013123-35 01/31/2023 116367001 -E37H4 Wolfe and Rte 280 NB Loc A $59.36
0092-013123-36 01/31/2023 116367165 -S/E Wolfe-Pruneridge, Sprinkler Control
and Traffic S
$95.60
0092-013123-37 01/31/2023 116367170 -Tantau Ave and Tandem D/W, Traffic
Signal
$93.19
0092-013123-38 01/31/2023 116367175 -S/E Corner Pruneridge and Tantau,
Traffic Controller
$73.37
0092-013123-39 01/31/2023 116367180 -Finch and Stevens Creek, Traffic Signals $97.75
0092-013123-40 01/31/2023 116367185 -Wolfe Rd 500 Ft S/O Homestead,
City/Sign Lighting
$31.29
0092-013123-41 01/31/2023 116367195 -Corner Miller and Phil Ln, Traffic Signal $64.50
0092-013123-42 01/31/2023 116367200 -Homestead and De Anza Blvd, Traffic
Signal/Dept Pub W
$115.58
0092-013123-43 01/31/2023 116367205 -Homestead Rd and Franco Ct, Traffic
Signals
$64.90
0092-013123-44 01/31/2023 116367215 -N/Ramp De Anza Blvd, Traffic Signal $80.80
0092-013123-45 01/31/2023 116367220 -Homestead Rd and Bluejay Rd, Traffic
Signals
$69.46
0092-013123-46 01/31/2023 118426656 -WS Portal Btw Amhurst-Wheaton , Portal
Prk Ltg, Prk L
$251.20
0092-013123-47 01/31/2023 114321565 116367416 -22601 Voss Ave $821.80
0092-013123-48 01/31/2023 116367925 -22601 Voss Ave, Outdoor Lighting-MV
Park
$17.65
0092-013123-49 01/31/2023 116367245 -Stevens Creek Blvd and Janice Ave,
Sprinkler Control
$16.65
0092-013123-50 01/31/2023 116367269 -Cor/Lucille and Randy Ln, Sprinkler
System (011095852
$11.92
0092-013123-51 01/31/2023 116367255 -Lucille and Villa De Anza, Sprinkler
Control
$285.75
0092-013123-52 01/31/2023 116367815 -19784 Wintergreen Dr $370.36
Monday, February 27, 2023Pages: 6 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
316
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-013123-54 01/31/2023 116367290 -Stevens Creek and Mary Ave, Traffic
Signals
$85.45
0092-013123-55 01/31/2023 116367408 -Stevens Creek Bl and Mary Avenue,
Memorial Park Pump
$66.80
0092-013123-56 01/31/2023 116367625 -Stevens Creek Blvd Orange S/W Cor,
Irrigation Control
$10.18
0092-013123-57 01/31/2023 116367902 -10246 Parkside Ln, Wilson Pk
Sprinklers,Snack Shack,I
$226.80
0092-013123-58 01/31/2023 116367628 -N/W corner Alpine Dr and Foothill Blvd,
Irrigation Co
$10.18
0092-013123-59 01/31/2023 116367476 -Salem Ave and Foothill Blvd, Irrigation
Control
$10.18
0092-013123-60 01/31/2023 116367527 -Foothill Blvd 200' N/O Stevens Creek
W/S, Irrigation
$10.18
0092-013123-61 01/31/2023 116367740 -Carmen Rd and Stevens Creek S/E
corner, Irrigation Co
$10.18
0092-013123-62 01/31/2023 116367343 112570652 -Foothill Blvd 150' N/O Alpine
E/S, Irrigati
$22.56
0092-013123-63 01/31/2023 116367370 -Stevens Creek Blvd and Fwy 85 West
Ramp, Traffic Sign
$15.27
0092-013123-64 01/31/2023 116367380 -NE Corner Peninsula and Stevens Creek,
Traffic Signal
$123.45
0092-013123-65 01/31/2023 116367385 -End/Stokes W/Wilson Crt, Sprinkler
Control
$11.91
0092-013123-66 01/31/2023 116367395 -N/E corner Foothill and Starling Dr, Traffic
Signals
$70.78
0092-013123-67 01/31/2023 116367067 -Stonydale Dr and Varian Park, walkway
lighting and Ir
$126.17
0092-013123-68 01/31/2023 116367071 -Linda Vista Dr / Hillside Park, Hillside Park $26.07
0092-013123-69 01/31/2023 116367648 -Linda Vista Park/Linda Vista Dr, Irrigation
Control
$191.55
0092-013123-70 01/31/2023 116367455 -E37R9 Rodriguez and De Anza Blvd,
Traffic Signal
$93.60
0092-013123-71 01/31/2023 116367656 -Scofield and De Anza, 100HP $12.62
0092-013123-72 01/31/2023 116367465 -De Anza Blvd and Scofield Dr, Sprinkler
Controller
$11.64
0092-013123-73 01/31/2023 116367475 -Foothill and Stevens Creek, Traffic Signal $80.32
0092-013123-74 01/31/2023 116367447 -Stelling Rd Median 500' S/O Peppertree
Ln, Landscape
$12.64
0092-013123-75 01/31/2023 116367236 -Stelling Rd Median 450' S/O Stevens Crk,
Landscape Ir
$12.28
0092-013123-76 01/31/2023 116367505 -Stevens Crk and Stelling, Signal $52.26
0092-013123-77 01/31/2023 116367510 -Bubb Rd and Results Wy, Traffic Signal $65.02
0092-013123-78 01/31/2023 116367515 -Bubb Rd and McClellan Intersection,
Traffic Signal
$95.73
0092-013123-79 01/31/2023 116367520 -Stelling Rd and Peppertree, Traffic Signal $72.73
0092-013123-80 01/31/2023 116367525 -Stelling and McClellan, Signals $101.11
0092-013123-81 01/31/2023 116367530 -Orange Ave and Stevens Creek N/E
corner, Traffic Cont
$55.88
0092-013123-82 01/31/2023 116367493 -Dumas Dr/Jollyman Park, Jollyman Park
Restroom
$257.84
0092-013123-83 01/31/2023 116367545 -Saratoga-Sunnyvale Rd, Traffic Signal $81.43
Monday, February 27, 2023Pages: 7 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
317
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-013123-84 01/31/2023 116367550 -W/S Saratoga-Sunnyvale Rd @ RT85,
Traffic Signal
$70.45
0092-013123-85 01/31/2023 116367560 -S/E corner De Anza and Pacifica, Traffic
Signal
$89.07
0092-013123-86 01/31/2023 116367570 -De Anza Blvd, Sprinkler Controller *$11.64
0092-013123-87 01/31/2023 116367585 -Rainbow and Stelling, Traffic Signal $75.89
0092-013123-88 01/31/2023 116367559 -21011 Prospect Rd, Irrigation Control $10.18
0092-013123-89 01/31/2023 116367685 -Ruppell Pl and Moltzen Dr, Sprinkler
Control
$116.58
0092-013123-90 01/31/2023 115211833 -10300 Anisworth Dr, Ball Park Stevens
Creek SV
$10.32
0092-013123-91 01/31/2023 116367630 -22100 Stevens Creek Blvd, Golf Pro Shop $243.34
0092-013123-92 01/31/2023 110081495 -10710 Stokes Ave, Somerset Park $44.44
0092-013123-93 01/31/2023 116367044 -10555 Mary Ave NEM $1,146.39
0092-013123-94 01/31/2023 116367568 -10555 Mary Ave, Corp Yard $411.06
0092-013123-95 01/31/2023 116367474 -10500 Ann Arbor Ave, Field-Garden Gate $17.15
0092-013123-96 01/31/2023 114315284 116367325 -21975 San Fernando Ave,
Picnic Area
$1,839.14
0092-013123-97 01/31/2023 116367171 -10155 Barbara Ln, Irrigation and
Scoreboard
$17.05
0092-013123-98 01/31/2023 116367587 -10430 S De Anza Blvd, Holiday Lighting $79.07
0092-013123-99 01/31/2023 116367449 -10350 Torre Ave, Community Hall $3,112.39
0092-013123-100 01/31/2023 111190735 119980351-10300 Torre Ave, City Hall $7,454.51
0092-013123-101 01/31/2023 116367437 -10455 Miller Ave, Creekside Park $517.66
0092-013123-102 01/31/2023 116367988 -21710 McClellan Rd, Playground
Reception Area
$10.18
0092-013123-103 01/31/2023 116367484 -20220 Suisun Dr, Parks and Rec Free
Standing Panel
$10.20
0092-013123-104 01/31/2023 116367763 -10630 S De Anza Blvd, Holiday Lighting $85.38
0092-013123-105 01/31/2023 116367332 -821 Bubb Rd #B/Building Concession $111.91
0092-013123-106 01/31/2023 116367274 -1170 Yorkshire Dr.$10.18
0092-013123-107 01/31/2023 116367013 - 1486 S Stelling Rd $10.18
0092-013123-108 01/31/2023 116367941 -7548 Donegal Dr, Irrigation Control
/Hoover Park
$10.18
0092-013123-109 01/31/2023 116367840 -10185 N Stelling RD $6,548.55
0092-013123-110 01/31/2023 116971849 -21111 Stevens Creek Blvd, Sports Center $6,659.28
0092-013123-111 01/31/2023 116367477 -21121 Stevens Creek Blvd, Memorial Park $1,745.84
0092-013123-112 01/31/2023 (Old116367536) 113736756 ESP113428799 -Senior
Center 21251 Steve
$3,185.44
0092-013123-113 01/31/2023 116367590 -Saratoga Sunnyvale Rd and Hwy 85,
Traffic Signal
$72.61
0092-013123-114 01/31/2023 116367605 -E37C1 Prospect and Rte 85, Traffic Signal $84.06
0092-013123-115 01/31/2023 116367610 -E37R6 Kentwood/S. De Anza Blvd, Traffic
Signal
$75.49
0092-013123-116 01/31/2023 116367615 -Fallenleaf Ln and S De Anza Blvd, Traffic
Signal
$84.94
0092-013123-117 01/31/2023 116367620 -S De Anza Blvd and Sharon Dr , Irrigation
Controller
$17.15
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$34,650.70
Monday, February 27, 2023Pages: 8 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
318
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$243.34
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$6,659.28
732070 02/24/2023 Open Accounts Payable PROJECT SENTINEL $3,452.85
Invoice Date Description Amount
PSCDBGQ2FY2223 02/21/2023 Below Market Rate Fund (BMR) - Q2 $3,452.85
Paying Fund Cash Account Amount
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$3,452.85
732071 02/24/2023 Open Accounts Payable PTS COMMUNICATIONS $543.00
Invoice Date Description Amount
2100957 02/09/2023 payphone svcs 3/1/23-3/31/23 $543.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$482.66
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$60.34
732072 02/24/2023 Open Accounts Payable ReadyRefresh $74.94
Invoice Date Description Amount
13B0027344639 02/08/2023 City Hall Employee Drinking Water 1/7/23-2/6/23 $74.94
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$74.94
732073 02/24/2023 Open Accounts Payable SAN JOSE WATER COMPANY $568.97
Invoice Date Description Amount
7329-01272023 01/27/2023 0645365732-9 - Streets Division 12-27-22 to 01-27-23 $568.97
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$568.97
732074 02/24/2023 Open Accounts Payable SENIOR ADULTS LEGAL
ASSISTANCE
$3,162.89
Invoice Date Description Amount
SALACDBGQ2FY2223 02/21/2023 General Fund HSG - Q2 $3,162.89
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,162.89
732075 02/24/2023 Open Accounts Payable SONIA DOGRA $195.00
Invoice Date Description Amount
022123 SD 02/21/2023 February Fitness Classes $195.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$195.00
732076 02/24/2023 Open Accounts Payable The Regents of the University of
California
$475.00
Invoice Date Description Amount
12347834 02/20/2023 The Municipal Law Handbook (OnLAW) 2.20.23 -
2.19.24
$475.00
Monday, February 27, 2023Pages: 9 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
319
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$475.00
732077 02/24/2023 Open Accounts Payable United Site Services $93.90
Invoice Date Description Amount
114-13522597 02/14/2023 portable toilet at compost site Feb-March 2023 $93.90
Paying Fund Cash Account Amount
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$93.90
732078 02/24/2023 Open Accounts Payable VERIZON WIRELESS $6,694.88
Invoice Date Description Amount
9926893234-0 02/04/2023 408-202-5384 / Travis Warner $38.01
9926893234-1 02/04/2023 408-204-3449 / Rei Delgado $38.01
9926893234-2 02/04/2023 408-204-5990 / Diego Rodriguez $54.22
9926893234-4 02/04/2023 408-205-3349 / Rafael (Senior Center)$29.29
9926893234-5 02/04/2023 408-205-4541 / Iqraam Nabi $38.01
9926893234-6 02/04/2023 408-205-4849 / Brandon Martinez $38.01
9926893234-7 02/04/2023 408-205-5866 / Ricardo Acevedo $38.01
9926893234-8 02/04/2023 408-205-6589 / Street Lights $40.01
9926893234-9 02/04/2023 408-206-0538 / Quinton Adams $515.60
9926893234-10 02/04/2023 408-206-7434 / Albert Salvador $60.24
9926893234-11 02/04/2023 408-206-7512 / Fleet/Mechanic Shop $38.01
9926893234-13 02/04/2023 408-234-0189 / It Dept Mi-Fi $38.01
9926893234-14 02/04/2023 408-234-0978 / Infrastructure Department $38.01
9926893234-15 02/04/2023 408-234-1270 / Adrian Sanchez $38.01
9926893234-16 02/04/2023 408-234-4724 / Building Attendants Quinlan $26.74
9926893234-17 02/04/2023 408-309-0340 / Piu Ghosh $28.31
9926893234-18 02/04/2023 408-309-2536 / Ursula Syrova $51.55
9926893234-19 02/04/2023 408-309-2693 / Paul Tognetti $38.01
9926893234-20 02/04/2023 408-309-6398 / Lisa Cameli $51.55
9926893234-21 02/04/2023 408-309-7042 / Kristina Alfaro $51.55
9926893234-22 02/04/2023 408-309-7640 / Bob Sabich $33.98
9926893234-23 02/04/2023 408-309-8401 / Paul Sapudar $38.01
9926893234-24 02/04/2023 408-309-9252 / Antonio Torrez $27.05
9926893234-25 02/04/2023 408-313-0045 / Roberto Montez $38.01
9926893234-26 02/04/2023 408-313-1148 / Toan Quach $51.55
9926893234-27 02/04/2023 408-313-3558 / Jared Lopez $38.01
9926893234-28 02/04/2023 408-313-4364 / Street Tree Maintenance #4 $38.01
9926893234-29 02/04/2023 408-313-5321 / Aaron Saiz $38.01
9926893234-30 02/04/2023 408-313-6943 / Victor Espinoza $38.01
9926893234-31 02/04/2023 408-314-4452 / Shawn Tognetti $53.27
9926893234-32 02/04/2023 408-314-6637 / Phuong Devries $28.78
9926893234-33 02/04/2023 408-314-9200 / Victoria Morin $38.01
9926893234-34 02/04/2023 408-315-3044 / Jonathan Ferrante $51.55
9926893234-35 02/04/2023 408-315-6764 / Rachelle Sander Mifi $38.01
9926893234-36 02/04/2023 408-315-8165 / Brian Gathers $38.01
9926893234-37 02/04/2023 408-316-1283 / Bill Mitchell $38.01
9926893234-38 02/04/2023 408-316-2067 / Paul O Sullivan $28.08
9926893234-39 02/04/2023 408-316-6770 / Ayano Hattori $51.55
Monday, February 27, 2023Pages: 10 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
320
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
9926893234-40 02/04/2023 408-316-7320 / Marvin Aguilar $22.08
9926893234-41 02/04/2023 408-318-0344 / Michael Woo $47.87
9926893234-42 02/04/2023 408-318-1652 / Esther Kwon $51.55
9926893234-43 02/04/2023 408-318-2012 / Aldo Corral $38.01
9926893234-44 02/04/2023 408-318-3663 / Pamela Wu $51.55
9926893234-45 02/04/2023 408-318-7365 / Bob Sabich $38.01
9926893234-46 02/04/2023 408-318-8726 / Diego Rodriguez $38.01
9926893234-47 02/04/2023 408-334-4885 / Michael Kimball $38.01
9926893234-48 02/04/2023 408-334-9082 / Sean Hatch $38.34
9926893234-49 02/04/2023 408-340-3184 / Peter Coglianese $38.01
9926893234-50 02/04/2023 408-340-8060 / Nidhi Mathur $38.01
9926893234-51 02/04/2023 408-340-8128 / Lori Baumgartner $38.01
9926893234-52 02/04/2023 408-340-8564 / Portal Park $38.01
9926893234-53 02/04/2023 408-340-8648 / Chad Mosley $38.01
9926893234-54 02/04/2023 408-345-1639 / Sonya Lee $51.07
9926893234-55 02/04/2023 408-440-7136 / Andy Badal $38.01
9926893234-56 02/04/2023 408-460-1821 / Ty Bloomquist $71.92
9926893234-57 02/04/2023 408-466-4450 / Toc Oncall $38.01
9926893234-58 02/04/2023 408-466-4906 / K. Housing Planner $38.01
9926893234-59 02/04/2023 408-472-1568 / David Stillman $51.55
9926893234-60 02/04/2023 408-472-6522 / Rodney Weathers $38.01
9926893234-61 02/04/2023 408-472-6541 / John Raaymakers $38.01
9926893234-62 02/04/2023 408-472-7011 / Ty Bloomquist $38.01
9926893234-63 02/04/2023 408-472-7295 / Antonio Torrez $38.01
9926893234-64 02/04/2023 408-472-7857 / Paul O'sullivan $38.01
9926893234-65 02/04/2023 408-472-7927 / Bill Mitchell $38.01
9926893234-66 02/04/2023 408-472-9907 / Manuel Barragan $51.70
9926893234-67 02/04/2023 408-478-1999 / James Lee $32.84
9926893234-68 02/04/2023 408-482-5991 / Benjamin Fu $38.01
9926893234-69 02/04/2023 408-482-6096 / Monica Diaz $38.01
9926893234-70 02/04/2023 408-482-7747 / Matt Morley $51.55
9926893234-71 02/04/2023 408-483-5672 / M. Jonathan Ferrante $38.01
9926893234-72 02/04/2023 408-483-7859 / Shawn Tognetti $38.01
9926893234-73 02/04/2023 408-483-7997 / James Lee Ipad $38.01
9926893234-74 02/04/2023 408-483-9976 / On-Call Service Center $41.01
9926893234-75 02/04/2023 408-489-2932 / Ross Slaney $38.01
9926893234-76 02/04/2023 408-489-3224 / Dianne Thompson $21.50
9926893234-77 02/04/2023 408-489-4395 / Beth Viajar $38.82
9926893234-78 02/04/2023 408-489-8336 / Cyrah Caburian $38.01
9926893234-79 02/04/2023 408-489-9309 / Jonathan Ferrante $38.01
9926893234-80 02/04/2023 408-489-9310 / Kevin Riedan $38.01
9926893234-81 02/04/2023 408-493-3534 / Michael Garcia $38.01
9926893234-82 02/04/2023 408-493-3543 / Frank Villa $51.70
9926893234-83 02/04/2023 408-495-9234 / Thomas Chin $51.55
9926893234-85 02/04/2023 408-497-3691 / Sean Filbeck $38.01
9926893234-86 02/04/2023 408-497-4686 / Miles D'salmon $38.01
9926893234-87 02/04/2023 408-497-4862 / Jeff Trybus $38.01
9926893234-88 02/04/2023 408-497-8714 / Brad Alexander $38.01
9926893234-89 02/04/2023 408-510-0622 / Susan Michael $51.55
9926893234-90 02/04/2023 408-510-9158 / Winnie Pagan $38.01
Monday, February 27, 2023Pages: 11 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
321
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
9926893234-91 02/04/2023 408-515-2301 / Vanessa Guerra $28.12
9926893234-92 02/04/2023 408-515-9208 / Debra Nascimento $48.41
9926893234-93 02/04/2023 408-515-9374 / Jimmy Tan $51.55
9926893234-94 02/04/2023 408-529-8879 / Michael Miranda $51.55
9926893234-95 02/04/2023 408-540-8405 / Rodney Weathers $30.51
9926893234-96 02/04/2023 408-568-3911 / Junnie Hemann $38.01
9926893234-97 02/04/2023 408-568-6465 / Cyrah Caburian $38.01
9926893234-98 02/04/2023 408-599-4937 / Steven Hirsch $38.01
9926893234-99 02/04/2023 408-599-8584 / Janet Liang $51.55
9926893234-100 02/04/2023 408-605-2546 / Jerry Anderson $38.01
9926893234-101 02/04/2023 408-605-3078 / Quinton Mifi 1 $38.01
9926893234-102 02/04/2023 408-605-3905 / Andrew Schmitt Mifi 2 $38.01
9926893234-103 02/04/2023 408-609-2453 / Amanda Hui $28.07
9926893234-104 02/04/2023 408-609-2803 / Kevin Simons $38.01
9926893234-105 02/04/2023 408-609-2948 / Brian Policriti $38.01
9926893234-106 02/04/2023 408-609-4188 / Alfredo Alegria $38.01
9926893234-107 02/04/2023 408-609-4367 / Brandon Morales $38.01
9926893234-108 02/04/2023 408-609-8711 / Ralph Aquinaga $38.01
9926893234-109 02/04/2023 408-609-8796 / Frank Villa $38.01
9926893234-111 02/04/2023 408-610-0601 / Paul Tognetti $51.55
9926893234-112 02/04/2023 408-614-4001 / Nathan Vasquez $51.55
9926893234-113 02/04/2023 408-628-8745 / Fernando Jimenez $38.01
9926893234-114 02/04/2023 408-630-0674 / Christopher Jensen $51.55
9926893234-115 02/04/2023 408-630-0900 / Adrian Melendez $38.01
9926893234-116 02/04/2023 408-630-1388 / Monica Diaz $51.55
9926893234-117 02/04/2023 408-642-4263 / Alex Wykoff $38.01
9926893234-118 02/04/2023 408-642-4504 / Kevin Green $38.01
9926893234-119 02/04/2023 408-655-8680 / Jeff Trybus $51.55
9926893234-120 02/04/2023 408-655-8685 / Alex Wykoff $51.55
9926893234-121 02/04/2023 408-687-5821 / Jonathan Williams $38.01
9926893234-122 02/04/2023 408-687-9445 / Frankie De Leon $38.01
9926893234-123 02/04/2023 408-687-9854 / John Ramos $38.01
9926893234-124 02/04/2023 408-688-1613 / Peter Arnst $38.01
9926893234-125 02/04/2023 408-688-6252 / Benjamin Fu $51.55
9926893234-126 02/04/2023 408-693-0364 / Josh Illnicki $38.01
9926893234-127 02/04/2023 408-693-8086 / Kyle Garcia $38.01
9926893234-128 02/04/2023 408-693-8865 / Justice Patterson $38.01
9926893234-129 02/04/2023 408-693-9654 / Saul Herrara $38.01
9926893234-130 02/04/2023 408-694-8703 / Domingo Santos $46.30
9926893234-131 02/04/2023 408-707-0987 / Richard Banda $38.01
9926893234-132 02/04/2023 408-748-6390 / Tree Crew Ipad 3 $38.01
9926893234-133 02/04/2023 408-781-0290 / Daniel Barone $38.01
9926893234-134 02/04/2023 408-781-0663 / Bill Bridge $38.01
9926893234-135 02/04/2023 408-781-0799 / Brad Alexander $38.01
9926893234-136 02/04/2023 408-781-1340 / John Stiehr $38.01
9926893234-137 02/04/2023 408-781-4139 / Julia Kinst $40.01
9926893234-138 02/04/2023 408-786-8664 / Jessica Javier $38.64
9926893234-139 02/04/2023 408-790-7036 / Pete Coglianese $23.88
9926893234-140 02/04/2023 408-790-7039 / Torin Scott $36.84
9926893234-141 02/04/2023 408-790-7045 / Rei Delgado $23.88
Monday, February 27, 2023Pages: 12 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
322
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
9926893234-142 02/04/2023 408-828-9819 / Kerri Heusler $29.50
9926893234-143 02/04/2023 408-841-6612 / T. Internet Emergncyvan $38.01
9926893234-144 02/04/2023 408-857-2355 / Alex Corbalis Travel Agent $25.47
9926893234-145 02/04/2023 408-891-2787 / Ricardo Alvarez $38.01
9926893234-146 02/04/2023 408-891-4594 / Larry Lopez $38.01
9926893234-147 02/04/2023 408-891-9008 / Park Ranger Corridor $30.54
9926893234-148 02/04/2023 408-891-9503 / Rachelle Sander $27.26
9926893234-149 02/04/2023 408-892-1486 / Iqraam Nabi $51.55
9926893234-150 02/04/2023 408-892-5553 / Albert Salvador $38.01
9926893234-151 02/04/2023 415-425-6339 / Kirsten Squarcia $41.06
9926893234-152 02/04/2023 650-208-1786 / Liang Chao $51.55
9926893234-153 02/04/2023 650-208-5861 / Kitty Moore $51.55
9926893234-154 02/04/2023 650-208-7398 / Hung Wei $51.55
9926893234-155 02/04/2023 650-480-0930 / Alex Greer $51.70
9926893234-156 02/04/2023 669-255-6066 / Jr Fruen $51.55
9926893234-157 02/04/2023 669-255-6437 / Sheila Mohan $51.55
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,899.21
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$127.72
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$38.01
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$304.08
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$255.14
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$109.93
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$884.77
630 - Vehicle/Equip Replacement 630 100-100 (Cash & Investments Assets Operating
Cash)
$76.02
732079 02/24/2023 Open Accounts Payable Walter Buenning Golf Balls $525.00
Invoice Date Description Amount
002 02/21/2023 Used golf balls to sell in pro shop $525.00
Paying Fund Cash Account Amount
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$525.00
732080 02/24/2023 Open Accounts Payable Clinton Robustelli $42.00
Invoice Date Description Amount
Robustelli021523 02/15/2023 LiveScan and Fingerprinting Reimbursement $42.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$42.00
732081 02/24/2023 Open Accounts Payable HATHAWAY DINWIDDIE
CONSTRUCTION COMPANY
$10,000.00
Invoice Date Description Amount
307932 02/15/2023 REFUND 10231 BUBB RD BLD-2021-1830 TCO
BOND
$10,000.00
Monday, February 27, 2023Pages: 13 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
323
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$10,000.00
732082 02/24/2023 Open Accounts Payable NAKHODA, SHAZIA $9.16
Invoice Date Description Amount
S.NAKHODA1.24.23 02/13/2023 Supply for PS cooking project $9.16
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$9.16
732083 02/24/2023 Open Accounts Payable NAKHODA, SHAZIA $49.59
Invoice Date Description Amount
S.NAKHODA2.10.23 02/13/2023 PS Craft and activity supplies. $49.59
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$49.59
732084 02/24/2023 Open Accounts Payable Miranda, Michael $15.24
Invoice Date Description Amount
MMiranda092022 09/20/2022 Facilities: reimbursement for cash payment of facilities
supply
$15.24
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$15.24
732085 02/24/2023 Open Accounts Payable PG&E $45,594.69
Invoice Date Description Amount
0092-103122-0 10/31/2022 116367401 -Miller W/S N of Greenwood $18.25
0092-103122-1 10/31/2022 116367359 -Homestead and Heron, traffic control svc $63.99
0092-103122-2 10/31/2022 116367150 -Homestead and Wolfe Road, Sunnyvale $95.57
0092-103122-3 10/31/2022 116367155 -Homestead and Blaney, Cupertino Traffic
Signal, Sunny
$66.30
0092-103122-4 10/31/2022 116367275 -Homestead and Tantau, Cupertino Traffic
Signal, Sunny
$91.62
0092-103122-5 10/31/2022 116367013 -112017763 -11370 S Stelling Rd,
Irrigation Control
($62.50)
0092-103122-6 10/31/2022 116644889 19500 Pruneridge ave pole TP16660 $6.57
0092-103122-7 10/31/2022 1110161867 - Wolfe Rd @ Apple Campus Driveway $69.67
0092-103122-8 10/31/2022 116367793 -101 Skyport Dr, DG A, San Jose,
PGandE-Owned St/Highw
$738.10
0092-103122-9 10/31/2022 110958527 115145264 -Randy Lane & Larry Way-
Streetlights
$57.88
0092-103122-10 10/31/2022 111736580 SF Cupertino 075 $3.98
0092-103122-11 10/31/2022 116367357 -N De Anza 188 FT N/Valley Green Dr,
Irrig Controller
($62.25)
0092-103122-12 10/31/2022 116367907 -S/W Corner Stelling and Green leaf,
Traffic Signal
$79.00
0092-103122-13 10/31/2022 116367113 -Miller E/S 100N off Calle De Barcelona $78.22
0092-103122-14 10/31/2022 116367836 -De Anza Blvd E/S S/O Lazaneo, Sprinkler
Control
($69.00)
0092-103122-15 10/31/2022 116367677 -De Anza and Lazaneo, Sprinkler System ($68.98)
0092-103122-16 10/31/2022 116367025 -De Anza and Lazaneo, Traffic Signal $82.98
Monday, February 27, 2023Pages: 14 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
324
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-103122-17 10/31/2022 110659172 -N De Anza 455FT S/O Mariani Dr, Irrig
Control
($65.54)
0092-103122-18 10/31/2022 116367035 -De Anza Blvd and Mariani, Traffic
Signal/Safety Lts
$103.15
0092-103122-19 10/31/2022 116367045 -De Anza Blvd and Hwy 280 S/Ramp,
Traffic Signal
$100.78
0092-103122-20 10/31/2022 116367050 -NW Corner Stevens Crk, Traffic Signals $85.28
0092-103122-21 10/31/2022 116367055 -Saich Wy and Stevens Crk NE Corner,
Traffic Signal
$68.75
0092-103122-22 10/31/2022 116367060 -E37R0 Stevens Creek and De Anza Blvd,
Traffic Signal
$104.02
0092-103122-23 10/31/2022 116367065 -Stevens Creek Blvd E/Saich Wy, Sprinkler
Control
($68.39)
0092-103122-24 10/31/2022 116367070 -Stevens Creek and Blaney Ave., Traffic
Signal
$95.52
0092-103122-25 10/31/2022 116367075 -Vallco Pkwy and Perimeter Rd., Traffic
Signals
$67.90
0092-103122-26 10/31/2022 116367090 -Wolfe and Vallco Pkwy, Traffic Signals $99.46
0092-103122-27 10/31/2022 116367100 -E37H3 Wolfe and 280 SB Loc B, Traffic
Signal
$88.40
0092-103122-28 10/31/2022 116367105 -Stevens Crk and Wolfe Rd, Traffic Signals $127.94
0092-103122-29 10/31/2022 116367110 -SW Cor Stevens Crk and Portal, Traffic
Signal
$86.30
0092-103122-30 10/31/2022 116367115 -Stevens Crk and Perimeter Rd, Traffic
Control Signal
$83.14
0092-103122-31 10/31/2022 116367120 -Vallco Prky/Tantau Ave, Traffic Signal $95.25
0092-103122-32 10/31/2022 116367125 -Stevens Crk and Tantau, Traffic Signals $88.46
0092-103122-33 10/31/2022 116367130 -NW Corner Steven Crk and Torre, Traffic
Signal
$84.29
0092-103122-34 10/31/2022 116367782 -N/S Stevens Creek Blvd in front of 20301,
Irrigation
($69.07)
0092-103122-35 10/31/2022 116367001 -E37H4 Wolfe and Rte 280 NB Loc A $57.70
0092-103122-36 10/31/2022 116367165 -S/E Wolfe-Pruneridge, Sprinkler Control
and Traffic S
$94.79
0092-103122-37 10/31/2022 116367170 -Tantau Ave and Tandem D/W, Traffic
Signal
$90.04
0092-103122-38 10/31/2022 116367175 -S/E Corner Pruneridge and Tantau,
Traffic Controller
$79.73
0092-103122-39 10/31/2022 116367180 -Finch and Stevens Creek, Traffic Signals $96.36
0092-103122-40 10/31/2022 116367185 -Wolfe Rd 500 Ft S/O Homestead,
City/Sign Lighting
($44.22)
0092-103122-41 10/31/2022 116367195 -Corner Miller and Phil Ln, Traffic Signal $68.23
0092-103122-42 10/31/2022 116367200 -Homestead and De Anza Blvd, Traffic
Signal/Dept Pub W
$108.46
0092-103122-43 10/31/2022 116367205 -Homestead Rd and Franco Ct, Traffic
Signals
$69.27
0092-103122-44 10/31/2022 116367215 -N/Ramp De Anza Blvd, Traffic Signal $85.05
0092-103122-45 10/31/2022 116367220 -Homestead Rd and Bluejay Rd, Traffic
Signals
$72.43
0092-103122-46 10/31/2022 118426656 -WS Portal Btw Amhurst-Wheaton , Portal
Prk Ltg, Prk L
$119.99
0092-103122-47 10/31/2022 114321565 116367416 -22601 Voss Ave $487.90
Monday, February 27, 2023Pages: 15 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
325
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-103122-48 10/31/2022 116367925 -22601 Voss Ave, Outdoor Lighting-MV
Park
($54.09)
0092-103122-49 10/31/2022 116367245 -Stevens Creek Blvd and Janice Ave,
Sprinkler Control
($61.47)
0092-103122-50 10/31/2022 116367269 -Cor/Lucille and Randy Ln, Sprinkler
System (011095852
($67.34)
0092-103122-51 10/31/2022 116367255 -Lucille and Villa De Anza, Sprinkler
Control
$255.46
0092-103122-52 10/31/2022 116367815 -19784 Wintergreen Dr $596.60
0092-103122-53 10/31/2022 116367280 -Stevens Creek Blvd and Fwy 85 East
Ramp, Traffic Sign
$90.02
0092-103122-54 10/31/2022 116367290 -Stevens Creek and Mary Ave, Traffic
Signals
$94.26
0092-103122-55 10/31/2022 116367408 -Stevens Creek Bl and Mary Avenue,
Memorial Park Pump
($14.65)
0092-103122-56 10/31/2022 116367625 -Stevens Creek Blvd Orange S/W Cor,
Irrigation Control
($69.07)
0092-103122-57 10/31/2022 116367902 -10246 Parkside Ln, Wilson Pk
Sprinklers,Snack Shack,I
$298.33
0092-103122-58 10/31/2022 116367628 -N/W corner Alpine Dr and Foothill Blvd,
Irrigation Co
($68.88)
0092-103122-59 10/31/2022 116367476 -Salem Ave and Foothill Blvd, Irrigation
Control
($69.07)
0092-103122-60 10/31/2022 116367527 -Foothill Blvd 200' N/O Stevens Creek
W/S, Irrigation
($69.00)
0092-103122-61 10/31/2022 116367740 -Carmen Rd and Stevens Creek S/E
corner, Irrigation Co
($69.07)
0092-103122-62 10/31/2022 116367343 112570652 -Foothill Blvd 150' N/O Alpine
E/S, Irrigati
($68.69)
0092-103122-63 10/31/2022 116367370 -Stevens Creek Blvd and Fwy 85 West
Ramp, Traffic Sign
$14.29
0092-103122-64 10/31/2022 116367380 -NE Corner Peninsula and Stevens Creek,
Traffic Signal
$83.23
0092-103122-65 10/31/2022 116367385 -End/Stokes W/Wilson Crt, Sprinkler
Control
($66.99)
0092-103122-66 10/31/2022 116367395 -N/E corner Foothill and Starling Dr, Traffic
Signals
$69.27
0092-103122-67 10/31/2022 116367067 -Stonydale Dr and Varian Park, walkway
lighting and Ir
$25.77
0092-103122-68 10/31/2022 116367071 -Linda Vista Dr / Hillside Park, Hillside Park ($53.86)
0092-103122-69 10/31/2022 116367648 -Linda Vista Park/Linda Vista Dr, Irrigation
Control
$91.46
0092-103122-70 10/31/2022 116367455 -E37R9 Rodriguez and De Anza Blvd,
Traffic Signal
$91.11
0092-103122-71 10/31/2022 116367656 -Scofield and De Anza, 100HP ($66.79)
0092-103122-72 10/31/2022 116367465 -De Anza Blvd and Scofield Dr, Sprinkler
Controller
($67.34)
0092-103122-73 10/31/2022 116367475 -Foothill and Stevens Creek, Traffic Signal $75.57
0092-103122-74 10/31/2022 116367447 -Stelling Rd Median 500' S/O Peppertree
Ln, Landscape
($66.60)
0092-103122-75 10/31/2022 116367236 -Stelling Rd Median 450' S/O Stevens Crk,
Landscape Ir
($66.90)
Monday, February 27, 2023Pages: 16 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
326
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-103122-76 10/31/2022 116367505 -Stevens Crk and Stelling, Signal $45.33
0092-103122-77 10/31/2022 116367510 -Bubb Rd and Results Wy, Traffic Signal $61.65
0092-103122-78 10/31/2022 116367515 -Bubb Rd and McClellan Intersection,
Traffic Signal
$92.43
0092-103122-79 10/31/2022 116367520 -Stelling Rd and Peppertree, Traffic Signal $69.52
0092-103122-80 10/31/2022 116367525 -Stelling and McClellan, Signals $94.00
0092-103122-81 10/31/2022 116367530 -Orange Ave and Stevens Creek N/E
corner, Traffic Cont
$55.34
0092-103122-82 10/31/2022 116367493 -Dumas Dr/Jollyman Park, Jollyman Park
Restroom
$460.03
0092-103122-83 10/31/2022 116367545 -Saratoga-Sunnyvale Rd, Traffic Signal $78.22
0092-103122-84 10/31/2022 116367550 -W/S Saratoga-Sunnyvale Rd @ RT85,
Traffic Signal
$68.23
0092-103122-85 10/31/2022 116367560 -S/E corner De Anza and Pacifica, Traffic
Signal
$84.54
0092-103122-86 10/31/2022 116367570 -De Anza Blvd, Sprinkler Controller *($67.34)
0092-103122-87 10/31/2022 116367585 -Rainbow and Stelling, Traffic Signal $75.86
0092-103122-88 10/31/2022 116367559 -21011 Prospect Rd, Irrigation Control ($69.03)
0092-103122-89 10/31/2022 116367685 -Ruppell Pl and Moltzen Dr, Sprinkler
Control
$10.62
0092-103122-90 10/31/2022 115211833 -10300 Anisworth Dr, Ball Park Stevens
Creek SV
($68.90)
0092-103122-91 10/31/2022 116367630 -22100 Stevens Creek Blvd, Golf Pro Shop $229.45
0092-103122-92 10/31/2022 110081495 -10710 Stokes Ave, Somerset Park ($55.34)
0092-103122-93 10/31/2022 116367044 -10555 Mary Ave NEM $39.75
0092-103122-94 10/31/2022 116367568 -10555 Mary Ave, Corp Yard ($24.28)
0092-103122-95 10/31/2022 116367474 -10500 Ann Arbor Ave, Field-Garden Gate $48.52
0092-103122-96 10/31/2022 114315284 116367325 -21975 San Fernando Ave,
Picnic Area
$2,062.34
0092-103122-97 10/31/2022 116367171 -10155 Barbara Ln, Irrigation and
Scoreboard
$98.85
0092-103122-98 10/31/2022 116367587 -10430 S De Anza Blvd, Holiday Lighting ($30.84)
0092-103122-99 10/31/2022 116367449 -10350 Torre Ave, Community Hall $2,972.09
0092-103122-100 10/31/2022 111190735 119980351-10300 Torre Ave, City Hall $9,436.46
0092-103122-101 10/31/2022 116367437 -10455 Miller Ave, Creekside Park $384.18
0092-103122-102 10/31/2022 116367988 -21710 McClellan Rd, Playground
Reception Area
($69.07)
0092-103122-103 10/31/2022 116367484 -20220 Suisun Dr, Parks and Rec Free
Standing Panel
($69.07)
0092-103122-104 10/31/2022 116367763 -10630 S De Anza Blvd, Holiday Lighting ($24.23)
0092-103122-105 10/31/2022 116367332 -821 Bubb Rd #B/Building Concession ($36.49)
0092-103122-106 10/31/2022 116367274 -1170 Yorkshire Dr.($68.80)
0092-103122-107 10/31/2022 116367941 -7548 Donegal Dr, Irrigation Control
/Hoover Park
($68.85)
0092-103122-108 10/31/2022 116367840 -10185 N Stelling RD $9,798.79
0092-103122-109 10/31/2022 116971849 -21111 Stevens Creek Blvd, Sports Center $9,262.25
0092-103122-110 10/31/2022 116367477 -21121 Stevens Creek Blvd, Memorial Park $1,797.45
0092-103122-111 10/31/2022 (Old116367536) 113736756 ESP113428799 -Senior
Center 21251 Steve
$4,126.71
0092-103122-112 10/31/2022 116367590 -Saratoga Sunnyvale Rd and Hwy 85,
Traffic Signal
$72.60
Monday, February 27, 2023Pages: 17 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
327
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
0092-103122-113 10/31/2022 116367605 -E37C1 Prospect and Rte 85, Traffic Signal $83.47
0092-103122-114 10/31/2022 116367610 -E37R6 Kentwood/S. De Anza Blvd, Traffic
Signal
$78.97
0092-103122-115 10/31/2022 116367615 -Fallenleaf Ln and S De Anza Blvd, Traffic
Signal
$83.76
0092-103122-116 10/31/2022 116367620 -S De Anza Blvd and Sharon Dr , Irrigation
Controller
($60.81)
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$36,102.99
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$229.45
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$9,262.25
Type Check Totals:34 Transactions $160,900.76
EFT
36378 02/21/2023 Open Accounts Payable EMPLOYMENT DEVEL DEPT $44,359.75
Invoice Date Description Amount
02102023 02/10/2023 CA State Tax pp 1/28/23-2/10/23 $44,359.75
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$44,359.75
36379 02/21/2023 Open Accounts Payable IRS $144,131.00
Invoice Date Description Amount
02102023 02/10/2023 Federal Tax pp 1/28/23-2/10/23 $144,131.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$144,131.00
36380 02/23/2023 Open Accounts Payable P E R S $379.17
Invoice Date Description Amount
02012023 02/10/2023 PERS Council pp 2/1/23-2/28/23 $379.17
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$379.17
36381 02/23/2023 Open Accounts Payable P E R S $157,447.84
Invoice Date Description Amount
02102023 02/10/2023 PERS pp 1/28/23-2/10/23 $157,447.84
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$157,447.84
36382 02/24/2023 Open Accounts Payable 3M COMPANY $349.48
Invoice Date Description Amount
9421264164 02/10/2023 Streets - ElectroCut Film 1170C Clear RA Space $349.48
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$349.48
36383 02/24/2023 Open Accounts Payable ABOLI JAYDEEP RANADE $117.00
Invoice Date Description Amount
022123 AJR 02/21/2023 February Fitness Classes $117.00
Monday, February 27, 2023Pages: 18 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
328
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$117.00
36384 02/24/2023 Open Accounts Payable Amit Goel $273.00
Invoice Date Description Amount
22123 AG 02/21/2023 February Fitness Classes $273.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$273.00
36385 02/24/2023 Open Accounts Payable Arena Stuart Rentals Inc.,$2,729.00
Invoice Date Description Amount
212467 02/17/2023 Earth Day 2023- tables and chairs rental $2,729.00
Paying Fund Cash Account Amount
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$2,729.00
36386 02/24/2023 Open Accounts Payable Baker Tilly US, LLP $10,472.50
Invoice Date Description Amount
BT2263242 12/07/2022 Executive Coaching Pamela Wu $1,522.50
BT2285355 01/13/2023 Council Workshop 2023 $8,950.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$10,472.50
36387 02/24/2023 Open Accounts Payable California Commercial Fence $50,949.03
Invoice Date Description Amount
2586 02/21/2023 Regnart Creek Trail Project through 02212023 $50,949.03
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$50,949.03
36388 02/24/2023 Open Accounts Payable City Data Services, LLC $1,275.00
Invoice Date Description Amount
2366 02/15/2023 CDS Monthly Maintenance 2023 Jan-Mar $1,275.00
Paying Fund Cash Account Amount
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$1,275.00
36389 02/24/2023 Open Accounts Payable City of San Jose $42,968.42
Invoice Date Description Amount
1223335 02/15/2023 Animal Services - 03-04/2023 $42,968.42
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$42,968.42
36390 02/24/2023 Open Accounts Payable COLLEEN FERRIS $55.00
Invoice Date Description Amount
ColleenF21623 02/16/2023 cell phone service for CF Jan 17 - Feb 16 $55.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
Monday, February 27, 2023Pages: 19 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
329
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36391 02/24/2023 Open Accounts Payable CSG Consultants, Inc.$4,245.00
Invoice Date Description Amount
49154 02/09/2023 Homestead/N De Anza through 01272023 $4,245.00
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$4,245.00
36392 02/24/2023 Open Accounts Payable Cubic ITS, Inc.$24,945.98
Invoice Date Description Amount
90131334 12/22/2022 Contrl, CMDR, TS2-2, 980, SCOUT, LOC $24,945.98
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$24,945.98
36393 02/24/2023 Open Accounts Payable FEHR & PEERS ASSOC INC $740.25
Invoice Date Description Amount
162577 02/13/2023 Professional Services, 12.31.22 - 01.27.23 $740.25
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$740.25
36394 02/24/2023 Open Accounts Payable GEOTAB USA, INC.$2,815.25
Invoice Date Description Amount
IN327809 01/31/2023 Telematics Project - ProPlus Plan, Support Jan. 2023 $2,815.25
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$2,815.25
36395 02/24/2023 Open Accounts Payable GRACE DUVAL $616.00
Invoice Date Description Amount
022123 GD 02/21/2023 February Fitness Classes $616.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$616.00
36396 02/24/2023 Open Accounts Payable GRAINGER INC $1,039.12
Invoice Date Description Amount
9600090576 02/07/2023 Grounds 4 bladed cutter $35.89
9603749517 02/09/2023 Grounds Float Valve $324.87
9603617037 02/09/2023 Grounds Oblong Float Ball $385.84
9600510938 02/07/2023 Grounds spiral saw tooth cutter $22.65
9611770802 02/16/2023 Streets: drum heater, hose $269.87
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$769.25
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$269.87
36397 02/24/2023 Open Accounts Payable Gym Precision, Inc.$830.07
Invoice Date Description Amount
18703 02/16/2023 Service Order#22150. Installed parts.$830.07
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$830.07
Monday, February 27, 2023Pages: 20 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
330
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36398 02/24/2023 Open Accounts Payable HdL Coren & Cone $795.00
Invoice Date Description Amount
SIN025269 02/06/2023 2021-22 ACFR Statistical Package $795.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$795.00
36399 02/24/2023 Open Accounts Payable HMH Engineers $330.00
Invoice Date Description Amount
46332 02/13/2023 Cupertino BPMP Final PS&E through 02042023 $330.00
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$330.00
36400 02/24/2023 Open Accounts Payable Homebase $801.09
Invoice Date Description Amount
02253 02/08/2023 CWP Homelessness Administrator 2022/12 $497.79
02294 02/08/2023 CWP Homelessness Administrator 2023/01 $303.30
Paying Fund Cash Account Amount
265 - BMR Housing 265 100-100 (Cash & Investments Assets Operating
Cash)
$801.09
36401 02/24/2023 Open Accounts Payable Interstate Traffic Control Products,
Inc.
$334.69
Invoice Date Description Amount
255129 02/17/2023 Regnart Creek Trail Materials $334.69
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$334.69
36402 02/24/2023 Open Accounts Payable Jahara Pagadipaala $160.00
Invoice Date Description Amount
022123 JP 02/21/2023 February Fitness Classes $160.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$160.00
36403 02/24/2023 Open Accounts Payable JAMES COLVIN $2,912.00
Invoice Date Description Amount
022123 JC 02/21/2023 February PT $2,912.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$2,912.00
36404 02/24/2023 Open Accounts Payable JENNIFER HILL $287.00
Invoice Date Description Amount
022123 JH 02/21/2023 February Fitness Classes $287.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$287.00
36405 02/24/2023 Open Accounts Payable KIMBALL-MIDWEST $637.82
Invoice Date Description Amount
100756754 02/14/2023 Streets - 10pc Combination Set, Drive Socket $440.54
100697848 01/25/2023 Streets - Bolt, Shield, Combination Wire $197.28
Monday, February 27, 2023Pages: 21 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
331
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$637.82
36406 02/24/2023 Open Accounts Payable Liang Chao $37.50
Invoice Date Description Amount
02082023 02/08/2023 Reimbursement for Liang Chao Conference/Training
fee
$37.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$37.50
36407 02/24/2023 Open Accounts Payable LSA Associates, Inc.$2,788.75
Invoice Date Description Amount
186809 02/10/2023 Apple Park CEQA preparation 2023/01 $388.75
185954 12/13/2022 Apple Park CEQA preparation 2022/11 $2,400.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,788.75
36408 02/24/2023 Open Accounts Payable Mallika M Thoppay $120.00
Invoice Date Description Amount
022123 MT 02/21/2023 February Fitness Classes $120.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$120.00
36409 02/24/2023 Open Accounts Payable Melisa Stoner $247.50
Invoice Date Description Amount
022123 MS 02/21/2023 February Fitness Classes $247.50
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$247.50
36410 02/24/2023 Open Accounts Payable MONICA G. RANES-GOLDBERG $378.00
Invoice Date Description Amount
022123 MGRG 02/21/2023 February Fitness Classes $378.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$378.00
36411 02/24/2023 Open Accounts Payable Moore Lacofano Goltsman, Inc.$11,708.00
Invoice Date Description Amount
0079472 02/17/2023 Jollyman Park All-Inclusive through 010123-013123 $8,841.15
0079471 02/17/2023 Lawrence-Mitty Park & Trail Master Plan through
010123-013123
$2,866.85
Paying Fund Cash Account Amount
280 - Park Dedication 280 100-100 (Cash & Investments Assets Operating
Cash)
$2,866.85
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$8,841.15
36412 02/24/2023 Open Accounts Payable ODP Business Solutions, LLC.$57.38
Invoice Date Description Amount
290798135001 01/30/2023 Kitchen and Office Supplies $57.38
Monday, February 27, 2023Pages: 22 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
332
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$57.38
36413 02/24/2023 Open Accounts Payable PlaceWorks $1,222.73
Invoice Date Description Amount
80859 01/31/2023 1655 S De Anza Blvd Environmental Review 2023/01 $1,222.73
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,222.73
36414 02/24/2023 Open Accounts Payable Raychel Renee Balcioni Cruz $1,620.00
Invoice Date Description Amount
022123 RRBC 02/21/2023 February Fitness Classes $1,620.00
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$1,620.00
36415 02/24/2023 Open Accounts Payable REBUILDING TOGETHER SILICON
VALLEY
$8,835.13
Invoice Date Description Amount
RTSVCDBGQ2FY2223 02/21/2023 CDBG Capital Housing Projects - Q2 $8,835.13
Paying Fund Cash Account Amount
260 - CDBG 260 100-100 (Cash & Investments Assets Operating
Cash)
$8,835.13
36416 02/24/2023 Open Accounts Payable Red Wing Business Advantage
Account
$400.00
Invoice Date Description Amount
20230210074592 02/10/2023 Safety Apparel Boots - Adam Piccard $400.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$400.00
36417 02/24/2023 Open Accounts Payable Richard Yau $600.00
Invoice Date Description Amount
2302 02/13/2023 Master Agreement 2022-002 Various Agreements $600.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$600.00
36418 02/24/2023 Open Accounts Payable Rojin Karimzad $472.50
Invoice Date Description Amount
022123 RK 02/21/2023 February Fitness Classes and PT $472.50
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$472.50
36419 02/24/2023 Open Accounts Payable RRM DESIGN GROUP $2,500.00
Invoice Date Description Amount
1832-00-0123 02/10/2023 Design Review Consultant 2023/01 $2,500.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,500.00
Monday, February 27, 2023Pages: 23 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
333
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36420 02/24/2023 Open Accounts Payable Safety Compliance Management, Inc.$590.00
Invoice Date Description Amount
6667 01/31/2023 Fit for Duty & Drug and Alcohol Policies $590.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$590.00
36421 02/24/2023 Open Accounts Payable SCA of CA, LLC $18,563.57
Invoice Date Description Amount
105218CS 01/31/2023 Street sweeping-January 2023 $18,563.57
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$9,281.78
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$9,281.79
36422 02/24/2023 Open Accounts Payable TJKM $5,860.00
Invoice Date Description Amount
0053713 01/31/2023 Cupertino Vision Zero & Action Plan through 010123-
013123
$5,860.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,860.00
36423 02/24/2023 Open Accounts Payable West Coast Arborists, Inc.$2,076.00
Invoice Date Description Amount
1-8759 02/09/2023 TR-2022-027 Arborist Peer Review - 4 Apple Park Way $2,076.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,076.00
36424 02/24/2023 Open Accounts Payable West Valley Community Services $28,070.60
Invoice Date Description Amount
WVCSCAREQ2FY2223 02/21/2023 CDBG Public Services - Q2 (CARE)$8,648.29
WVHHCDBGQ2FY2223 02/21/2023 General Fund HSG - Q2 (Haven to Home)$19,422.31
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$19,422.31
260 - CDBG 260 100-100 (Cash & Investments Assets Operating
Cash)
$8,648.29
36425 02/24/2023 Open Accounts Payable WOWzy Creation Corp. dba First
Place
$297.92
Invoice Date Description Amount
95741 12/07/2022 Crystal Gavel Mayor Paul $297.92
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$297.92
Type EFT Totals:48 Transactions $583,441.04
Main Account - Main Checking Account Totals
Checks Status Count Transaction Amount Reconciled Amount
Open 34 $160,900.76 $0.00
Reconciled 0 $0.00 $0.00
Monday, February 27, 2023Pages: 24 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
334
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 34 $160,900.76 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 48 $583,441.04 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 48 $583,441.04 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 82 $744,341.80 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 82 $744,341.80 $0.00
Grand Totals:
Checks Status Count Transaction Amount Reconciled Amount
Open 34 $160,900.76 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 34 $160,900.76 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 48 $583,441.04 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 48 $583,441.04 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 82 $744,341.80 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 82 $744,341.80 $0.00
Monday, February 27, 2023Pages: 25 of 25user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/18/2023 - To Payment Date: 2/24/2023
335
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Main Account - Main Checking Account
Check
732086 03/03/2023 Open Accounts Payable Advantage Grafix $736.32
Invoice Date Description Amount
47325 02/27/2023 Business Cards $194.24
47327 02/27/2023 Business Cards for Colleen Ferris and Ofelia Ng $194.24
47328 02/27/2023 City branded mailing envelopes $347.84
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$388.48
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$173.92
520 - Resource Recovery 520 100-100 (Cash & Investments Assets Operating
Cash)
$173.92
732087 03/03/2023 Open Accounts Payable ALHAMBRA $133.18
Invoice Date Description Amount
4984729 021823 02/18/2023 Employee Drinking Water for QCC & Senior Center $133.18
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$133.18
732088 03/03/2023 Open Accounts Payable American Red Cross $4,123.12
Invoice Date Description Amount
29013620 12/31/2022 Emergency Medical Supplies $4,123.12
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,123.12
732089 03/03/2023 Open Accounts Payable Aquatic Central $4,000.00
Invoice Date Description Amount
100005 02/15/2023 Facilities - Feb 2023 Aquarium Maintenance $4,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,000.00
732090 03/03/2023 Open Accounts Payable Bay Aerials Gymnastics $11,908.20
Invoice Date Description Amount
021723 BAG W1 02/17/2023 Winter One Gymnastics Classes $11,908.20
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$11,908.20
732091 03/03/2023 Open Accounts Payable Bay Area Self Storage - Cupertino $678.00
Invoice Date Description Amount
24859 02/14/2023 Facilities - March 2023 Rental Storage Fees $678.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$678.00
732092 03/03/2023 Open Accounts Payable CINTAS CORP $1,626.77
Invoice Date Description Amount
4147944920 02/28/2023 Uniforms Safety Apparel $1,626.77
Paying Fund Cash Account Amount
Monday, March 06, 2023Pages: 1 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
336
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,626.77
732093 03/03/2023 Open Accounts Payable County of Santa Clara $1,050.00
Invoice Date Description Amount
R-2022-012 02/22/2023 Exempt Filing $50.00
R-2022-018 02/22/2023 Exempt Filing $50.00
R-2022-022 02/22/2023 Exempt Filing $50.00
R-2022-025 02/22/2023 Exempt Filing $50.00
R-2022-028 02/22/2023 Exempt Filing $50.00
R-2022-037 02/22/2023 Exempt Filing $50.00
R-2022-038 02/22/2023 Exempt Filing $50.00
R-2022-039 02/22/2023 Exempt Filing $50.00
R-2022-041 02/22/2023 Exempt Filing $50.00
R-2022-042 02/22/2023 Exempt Filing $50.00
R-2022-048 02/22/2023 Exempt Filing $50.00
RM-2022-004 02/22/2023 Exempt Filing $50.00
RM-2022-006 02/22/2023 Exempt Filing $50.00
RM-2022-018 02/22/2023 Exempt Filing $50.00
RM-2022-027 02/22/2023 Exempt Filing $50.00
RM-2022-030 02/22/2023 Exempt Filing $50.00
RM-2022-038 02/22/2023 Exempt Filing $50.00
TR-2022-038 02/22/2023 Exempt Filing $50.00
TR-2022-041 02/22/2023 Exempt Filing $50.00
TR-2022-048 02/22/2023 Exempt Filing $50.00
TR-2022-051 02/22/2023 Exempt Filing $50.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,050.00
732094 03/03/2023 Open Accounts Payable Cupertino Sanitary District $57,859.10
Invoice Date Description Amount
337 02/01/2023 Facilities - Service Charge for FY 2022-2023 $21,475.70
3336 02/01/2023 Facilities - Service Charge for FY 2022-2023 $36,383.40
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$38,195.20
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$17,145.20
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$2,518.70
732095 03/03/2023 Open Accounts Payable David L. Gates and Associates, Inc.$20,038.89
Invoice Date Description Amount
56377 01/31/2023 Memorial Park Specific Plan through 01312023 $20,038.89
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$20,038.89
732096 03/03/2023 Open Accounts Payable Dispensing Technology Corporation $6,562.97
Invoice Date Description Amount
15269 02/16/2023 Streets: BITUMINOUS, DOTSTICK MARKER $2,551.72
Monday, March 06, 2023Pages: 2 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
337
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
15249 02/07/2023 Streets: REPLACEMENT KIT, 10" FINE CARBIDE
MILLER
$4,011.25
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$6,562.97
732097 03/03/2023 Open Accounts Payable Eco Promotional Products, Inc.$1,495.59
Invoice Date Description Amount
25871 11/01/2022 Cotton Tote Bags for Giveaways $1,495.59
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,495.59
732098 03/03/2023 Open Accounts Payable Ennis-Flint, Inc.$1,276.81
Invoice Date Description Amount
272529 02/20/2023 Streets - Flint 3000 EX Propane Torch $1,276.81
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$1,276.81
732099 03/03/2023 Open Accounts Payable Got Gophers, Inc.$1,235.00
Invoice Date Description Amount
41649 02/28/2023 Trees/ROW - Feb 2023 Mary Bridge Maint $310.00
41885 02/28/2023 Grounds - Feb 2023 Monthly Maint $925.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,235.00
732100 03/03/2023 Open Accounts Payable H.T. Harvey & Associates $215.75
Invoice Date Description Amount
62813 02/24/2023 Regnart Creek Trail, Mitigation Monitoring through
01312023
$215.75
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$215.75
732101 03/03/2023 Open Accounts Payable ID WHOLESALER $328.33
Invoice Date Description Amount
INV6975114 12/14/2022 Entrust Datacard SD460 YMCKT full-color ribbon kit,
500 images,
$328.33
Paying Fund Cash Account Amount
570 - Sports Center 570 100-100 (Cash & Investments Assets Operating
Cash)
$328.33
732102 03/03/2023 Open Accounts Payable Information Station Specialists, Inc $2,120.40
Invoice Date Description Amount
0202302 02/10/2023 StreamCast Service (2-Year) Radio Cupertino $2,120.40
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,120.40
732103 03/03/2023 Open Accounts Payable IRON MOUNTAIN $3,626.22
Invoice Date Description Amount
HHSY202 02/28/2023 City Clerk Office Storage - 3/1/23 - 3/31/23 $3,626.22
Paying Fund Cash Account Amount
Monday, March 06, 2023Pages: 3 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
338
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,626.22
732104 03/03/2023 Open Accounts Payable KELLY-MOORE PAINT CO INC $101.19
Invoice Date Description Amount
808-00000866695 02/24/2023 Facilities - White Pink Paint, Roller Cover $101.19
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$101.19
732105 03/03/2023 Open Accounts Payable Lisa Molaro $17,090.50
Invoice Date Description Amount
LM Winter 2023-1 03/01/2023 Lisa Molaro Winter 2023-1 Contractor Payment $17,090.50
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$17,090.50
732106 03/03/2023 Open Accounts Payable Mountain View Garden Center $53.42
Invoice Date Description Amount
112290 02/06/2023 Trees/ROW - 1Yd Topsoil $53.42
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$53.42
732107 03/03/2023 Open Accounts Payable One Day Installation and Repairs, Inc $12,905.00
Invoice Date Description Amount
5502 02/12/2023 Facilities - City Hall Reconfiguration $12,905.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$12,905.00
732108 03/03/2023 Open Accounts Payable Operating Engineers Local Union No.
3
$1,443.48
Invoice Date Description Amount
02242023 02/24/2023 Union Dues pp 2/11/23-2/24/23 $1,443.48
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,443.48
732109 03/03/2023 Open Accounts Payable PACE Supply Corp $124.41
Invoice Date Description Amount
168389697 02/16/2023 Facilities - Walter Filter Cartridge $124.41
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$124.41
732110 03/03/2023 Open Accounts Payable PARS $596.25
Invoice Date Description Amount
51817 11/11/2022 ARS-PARS Fees (CA) - Annual Participant Statement
Fee
$596.25
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$596.25
Monday, March 06, 2023Pages: 4 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
339
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
732111 03/03/2023 Open Accounts Payable Pineapple Thai $1,479.00
Invoice Date Description Amount
1000003 02/15/2023 State of the City ±Catering $1,479.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,479.00
732112 03/03/2023 Open Accounts Payable PRN Ergonomic Services $200.00
Invoice Date Description Amount
2281 01/30/2023 HR: Ergo Eval for Aldo Corral $200.00
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$200.00
732113 03/03/2023 Open Accounts Payable Schaaf & Wheeler, Consulting Civil
Engineers
$4,190.00
Invoice Date Description Amount
37085 01/31/2023 On-Call Support - Creek Trail Analysis through
01312023
$4,190.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$4,190.00
732114 03/03/2023 Open Accounts Payable SITEONE LANDSCAPE SUPPLY,
LLC
$3,448.31
Invoice Date Description Amount
126691128-001 02/10/2023 Grounds: Rain Bird Falcon, Corona Rakes, Handles $3,448.31
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,448.31
732115 03/03/2023 Open Accounts Payable SOUTH BAY MOA $5,639.20
Invoice Date Description Amount
Fall 2022 02/25/2023 Fall 2022 (August - January 2023)$5,639.20
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$5,639.20
732116 03/03/2023 Open Accounts Payable SUMMERWINDS GARDEN CNTR
INC.
$287.49
Invoice Date Description Amount
1698 /59 02/23/2023 Plants for Orange Ave Sidewalk Improvement Project $287.49
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$287.49
732117 03/03/2023 Open Accounts Payable United Site Services $492.78
Invoice Date Description Amount
INV-01431726 02/13/2023 Trees/ROW - SWP 2.13.23 to 3.12.23 $492.78
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$492.78
Monday, March 06, 2023Pages: 5 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
340
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
732118 03/03/2023 Open Accounts Payable WILBUR-ELLIS COMPANY LLC $7,406.83
Invoice Date Description Amount
15526181 02/16/2023 Grounds - Maintenance Supplies $1,372.02
15522491 02/13/2023 Grounds - Maintenance Supplies $6,034.81
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$7,406.83
732119 03/03/2023 Open Accounts Payable DOUG NAKANO $903.24
Invoice Date Description Amount
321134 02/24/2023 REFUND 5 INFINITE LOOP BLD-2023-0279 VOID
PERMIT
$903.24
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$903.24
732120 03/03/2023 Open Accounts Payable Estephan Tumamao $39.99
Invoice Date Description Amount
Tumamao021023 02/10/2023 LiveScan and Fingerprinting Reimbursement $39.99
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$39.99
732121 03/03/2023 Open Accounts Payable Fremont Union High School District $300.00
Invoice Date Description Amount
2007010.030 02/22/2023 QCC- 2.16.23- Social Room Security Deposit Refund $300.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$300.00
732122 03/03/2023 Open Accounts Payable HENNEMAN, NICHOLAS $5,000.00
Invoice Date Description Amount
315351 02/27/2023 10755 ALDERBROOK LN, ENCROACHMENT,
315351
$5,000.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,000.00
732123 03/03/2023 Open Accounts Payable Jang, Olivia $480.00
Invoice Date Description Amount
2007020.030 02/23/2023 QCC- 03.26 & 05.20.23 - Cupertino Room Cancellation
Refund
$480.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$480.00
732124 03/03/2023 Open Accounts Payable Katragadda, Naga $364.50
Invoice Date Description Amount
2006949.030 01/24/2023 Activ. #19656 email W/draw request effective 1/19/23 $364.50
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$364.50
Monday, March 06, 2023Pages: 6 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
341
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
732125 03/03/2023 Open Accounts Payable Nataly Banuelos $75.00
Invoice Date Description Amount
Banuelos022123 02/21/2023 LiveScan and Fingerprinting Reimbursement $75.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$75.00
732126 03/03/2023 Open Accounts Payable Taraneh Roohparvar $173.00
Invoice Date Description Amount
Roohparvar011723 01/17/2023 Planner does approved business license application.
See Emi emai
$173.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$173.00
732127 03/03/2023 Open Accounts Payable Vanitha $500.00
Invoice Date Description Amount
2007026.030 02/27/2023 QCC- 4.23.23- Cupertino Room Security Deposit
Refund
$500.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$500.00
732128 03/03/2023 Open Accounts Payable Better Source $4,806.35
Invoice Date Description Amount
114439A 02/21/2023 Furniture for Environmental Group $4,806.35
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,806.35
Type Check Totals:43 Transactions $187,114.59
EFT
36426 03/03/2023 Open Accounts Payable Colonial Life & Accident Insurance $29.16
Invoice Date Description Amount
02242023 02/24/2023 Colonial Products pp 2/11/23-2/24/23 $29.16
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$29.16
36427 03/03/2023 Open Accounts Payable Employment Development $8,203.26
Invoice Date Description Amount
02242023 02/24/2023 State Disability Insurance pp 2/11/23-2/24/23 $8,203.26
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$8,203.26
36428 03/03/2023 Open Accounts Payable National Deferred (ROTH)$3,214.89
Invoice Date Description Amount
02242023 02/24/2023 Nationwide Roth pp 2/11/23-2/24/23 $3,214.89
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,214.89
Monday, March 06, 2023Pages: 7 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
342
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36429 03/03/2023 Open Accounts Payable National Deferred Compensatin $25,277.71
Invoice Date Description Amount
02242023 02/24/2023 Nationwide Deferred Compensation pp 2/11/23-
2/24/23
$25,277.71
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$25,277.71
36430 03/03/2023 Open Accounts Payable PERS-457K $16,557.13
Invoice Date Description Amount
02242023 02/24/2023 PERS Deferred Comp pp 2/11/23-2/24/23 $16,557.13
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$16,557.13
36431 03/03/2023 Open Accounts Payable State Disbursement Unit $495.73
Invoice Date Description Amount
02242023 02/24/2023 Child Support pp 2/11/23-2/24/23 $495.73
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$495.73
36432 03/03/2023 Open Accounts Payable 4 Paws Goose Control $1,850.00
Invoice Date Description Amount
1816 02/08/2023 Grounds - Jan 2023 Goose Control Services $1,850.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,850.00
36433 03/03/2023 Open Accounts Payable 4LEAF, Inc.$568.75
Invoice Date Description Amount
J3872-03A 02/22/2023 Wilson Park Basketball Court through 010123-013123 $306.25
J3872-04A 02/22/2023 Wilson Park Community Garden through 010123-
013123
$262.50
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$568.75
36434 03/03/2023 Open Accounts Payable ALL PENINSULA FIRE
EXTINGUISHER COMPANY
$162.00
Invoice Date Description Amount
22545 02/09/2023 Facilities - Service Call $162.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$162.00
36435 03/03/2023 Open Accounts Payable Amazon Capital Services $964.51
Invoice Date Description Amount
1JC3-1JKL-NM4X 01/23/2023 Amazon (PS2 Mouse, Velcro Tape; Bose Speakers)$470.11
11NF-XKG6-VPD7 02/13/2023 Amazon (Cat6 Ethernet Cables various sizes)$494.40
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$964.51
Monday, March 06, 2023Pages: 8 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
343
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36436 03/03/2023 Open Accounts Payable B&H PHOTO-VIDEO $500.56
Invoice Date Description Amount
210731319 02/14/2023 B&HPhotoVideo (Middle Atlantic Vented Shelf)$500.56
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$500.56
36437 03/03/2023 Open Accounts Payable Bikeep Inc.$49.00
Invoice Date Description Amount
17931 02/28/2023 Monthly Bikeep Fee $49.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$49.00
36438 03/03/2023 Open Accounts Payable BKF Engineers $8,913.96
Invoice Date Description Amount
22121217 12/13/2022 I-280 Trail through 102422-112722 $8,913.96
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$8,913.96
36439 03/03/2023 Open Accounts Payable California Commercial Fence $49,322.67
Invoice Date Description Amount
2596 02/28/2023 City of Cupertino - Regnart Creek Trail $49,322.67
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$49,322.67
36440 03/03/2023 Open Accounts Payable Chesapeake Systems International,
LLC
$6,136.10
Invoice Date Description Amount
00015321 02/22/2023 CatDV Maintenance & Support Annual Contract $6,136.10
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$6,136.10
36441 03/03/2023 Open Accounts Payable CLEARBLU ENVIRONMENTAL $886.06
Invoice Date Description Amount
28814 02/15/2023 Streets - Feb 2023 Hazmat Services $886.06
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$886.06
36442 03/03/2023 Open Accounts Payable CSG Consultants, Inc.$13,057.00
Invoice Date Description Amount
49156 02/09/2023 Regnart Creek Fencing through 01272023 $13,057.00
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$13,057.00
36443 03/03/2023 Open Accounts Payable David J. Powers & Associates, Inc.$343.75
Invoice Date Description Amount
29217 02/27/2023 Regnart Creek Trail Bird Surveys through 01312023 $206.25
28604 09/26/2022 Regnart Creek Trail Bird Surveys through 08312022 $137.50
Paying Fund Cash Account Amount
Monday, March 06, 2023Pages: 9 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
344
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$343.75
36444 03/03/2023 Open Accounts Payable Doggie Walk Bags, Inc.$5,156.15
Invoice Date Description Amount
0105177-IN 02/24/2023 Grounds - Green Unscented Disp Bags $5,156.15
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$5,156.15
36445 03/03/2023 Open Accounts Payable Eflex Group, Inc $4,157.95
Invoice Date Description Amount
02242023 02/24/2023 FSA Employee Health pp 2/11/23-2/24/23 $4,157.95
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$4,157.95
36446 03/03/2023 Open Accounts Payable Evelyn Moran $55.00
Invoice Date Description Amount
EvelynM02212023 02/21/2023 Cell Phone Reimbursement through 02212023 $55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
36447 03/03/2023 Open Accounts Payable FEHR & PEERS ASSOC INC $14,734.13
Invoice Date Description Amount
161613 01/14/2023 Professional Services, 11.26.22 - 12.30.22 $14,734.13
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$14,734.13
36448 03/03/2023 Open Accounts Payable Heritage Landscape Supply Group,
Inc.
$233.75
Invoice Date Description Amount
0009468230-001 02/10/2023 Trees/ROW - Tree Tie Cinch Tie Black $233.75
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$233.75
36449 03/03/2023 Open Accounts Payable IFPTE LOCAL 21 $1,906.54
Invoice Date Description Amount
02242023 02/24/2023 Association Dues - CEA pp 2/11/23-2/24/23 $1,906.54
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,906.54
36450 03/03/2023 Open Accounts Payable InservH2O Inc.$834.80
Invoice Date Description Amount
2648 02/06/2023 Facilities - Feb 2023 Water Treatment $834.80
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$834.80
Monday, March 06, 2023Pages: 10 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
345
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36451 03/03/2023 Open Accounts Payable John Raaymakers $55.00
Invoice Date Description Amount
JohnR02192023 02/19/2023 Cell Phone Reimbursement through 012023-021923 $55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
36452 03/03/2023 Open Accounts Payable JULIA KINST $55.00
Invoice Date Description Amount
JuliaK02192023 02/19/2023 Cell Phone Reimbursement through 012023-021923 $55.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$55.00
36453 03/03/2023 Open Accounts Payable KIMBALL-MIDWEST $1,082.34
Invoice Date Description Amount
100750510 02/10/2023 Streets - 1" USS GR8 Hex Nut $1,001.77
100733878 02/07/2023 Streets - 1" USS GR8 Hex Nut $80.57
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,082.34
36454 03/03/2023 Open Accounts Payable KIMBERLY LUNT $39.37
Invoice Date Description Amount
KimL02122023 02/12/2023 Cell Phone Reimbursement through 011323-021223 $39.37
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$39.37
36455 03/03/2023 Open Accounts Payable Liang Chao $37.50
Invoice Date Description Amount
02082023-2 02/08/2023 Reimbursement for Liang Chao Conference/Training
fee
$37.50
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$37.50
36456 03/03/2023 Open Accounts Payable MissionSquare $15,510.86
Invoice Date Description Amount
02242023 02/24/2023 ICMA Deferred Comp pp 2/11/23-2/24/23 $15,510.86
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$15,510.86
36457 03/03/2023 Open Accounts Payable Moss Adams LLP $8,256.25
Invoice Date Description Amount
102399914 02/22/2023 Ongoing Program Management services 1/1/23-
1/31/23
$700.00
102399949 02/22/2023 Professional services - Policy Review & Library
Construction
$7,556.25
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$8,256.25
Monday, March 06, 2023Pages: 11 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
346
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36458 03/03/2023 Open Accounts Payable MSDSonline DBA VelocityEHS $3,398.00
Invoice Date Description Amount
271518 11/30/2022 MSDSonline HQ Account - Renewal FY23 $3,398.00
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$3,398.00
36459 03/03/2023 Open Accounts Payable NI Government Services Inc $79.04
Invoice Date Description Amount
23012907051 02/09/2023 Traffic Period 1/1/23-1/31/23 $79.04
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$79.04
36460 03/03/2023 Open Accounts Payable ODP Business Solutions, LLC.$930.11
Invoice Date Description Amount
287361848001 02/09/2023 Service Center - Kitchen Supplies $412.27
292020950001 02/10/2023 Service Center - Paper and Badge Reels $112.30
293135142001 02/08/2023 Service Center - Kitchen Supplies $286.56
291183131001 02/03/2023 City Hall downstairs kitchen supplies $118.98
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$930.11
36461 03/03/2023 Open Accounts Payable OMEGA INDUSTRIAL SUPPLY, INC.$1,552.08
Invoice Date Description Amount
148745 02/21/2023 Grounds - Coat It Black, Always Shine Wipes,
Industrial Wipes
$1,552.08
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,552.08
36462 03/03/2023 Open Accounts Payable Pacific Office Automation $250.00
Invoice Date Description Amount
441291 01/11/2023 Clerk1 copier mvoe to IT area $250.00
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$250.00
36463 03/03/2023 Open Accounts Payable PARS/City of Cupertino $3,258.99
Invoice Date Description Amount
02242023 02/24/2023 PARS Employee pp 2/11/23-2/24/23 $3,258.99
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,258.99
36464 03/03/2023 Open Accounts Payable Professional Turf Management, Inc.$18,693.56
Invoice Date Description Amount
1271 02/20/2023 Golf course monthly maintenance fee $18,693.56
Paying Fund Cash Account Amount
560 - Blackberry Farm 560 100-100 (Cash & Investments Assets Operating
Cash)
$18,693.56
Monday, March 06, 2023Pages: 12 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
347
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36465 03/03/2023 Open Accounts Payable Robert Half $6,886.57
Invoice Date Description Amount
61557969 02/14/2023 Galante, Joanna for Week-Ended 02/10/2023 $834.02
61520181 02/07/2023 Galante, Joanna for Week-Ended 02/03/2023 $2,160.26
61606108 02/27/2023 Galante, Joanna for Week-Ended 02/17/2023 $2,142.21
61627883 02/28/2023 Galante, Joanna for Week-Ended 02/24/2023 $1,750.08
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$6,886.57
36466 03/03/2023 Open Accounts Payable SABRO Communications, Inc.$3,775.00
Invoice Date Description Amount
2524-C 02/24/2023 On-Call Cabling Agreement FY23 - Council new office
cabling
$3,775.00
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$3,775.00
36467 03/03/2023 Open Accounts Payable Safety Compliance Management, Inc.$1,390.00
Invoice Date Description Amount
6776 02/22/2023 Service Center - Respiratory Protection Training $695.00
6805 02/28/2023 Service Center - Fall Protection Training $695.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,390.00
36468 03/03/2023 Open Accounts Payable SCI Consulting Group $7,090.00
Invoice Date Description Amount
SBS10560 01/15/2023 Stormwater levy admin assessment FY22-23 $7,090.00
Paying Fund Cash Account Amount
230 - Env Mgmt Cln Crk Strm Drain 230 100-100 (Cash & Investments Assets Operating
Cash)
$7,090.00
36469 03/03/2023 Open Accounts Payable SHUTE, MIHALY & WEINBERGER
LLP
$10,768.84
Invoice Date Description Amount
280283 02/22/2023 Legal Services, January 2023 $1,987.20
280493 02/24/2023 Legal Services, January 2023 $3,199.68
280494 02/24/2023 Legal Services, January 2023 $1,138.11
280520 02/28/2023 Legal Services, January 2023 $4,443.85
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$10,768.84
36470 03/03/2023 Open Accounts Payable Software One, Inc $1,573.11
Invoice Date Description Amount
US-PSI-1267504 11/14/2022 Yearly software licensing renewal and True up $1,573.11
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$1,573.11
36471 03/03/2023 Open Accounts Payable Sonitrol/Pacific West Security, Inc.$1,633.33
Invoice Date Description Amount
70576 02/17/2023 Facilities - Creekside Park Wireless Communicator $38.33
Monday, March 06, 2023Pages: 13 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
348
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
70575 02/17/2023 Facilities - Creekside Park Security Upgrade $1,595.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,633.33
36472 03/03/2023 Open Accounts Payable South Bay Youth Sports $4,387.95
Invoice Date Description Amount
022423 SBYS 02/24/2023 South Bay Youth Sports Winter 1 $4,387.95
Paying Fund Cash Account Amount
580 - Recreation Program 580 100-100 (Cash & Investments Assets Operating
Cash)
$4,387.95
36473 03/03/2023 Open Accounts Payable Staples $301.56
Invoice Date Description Amount
3530139978 02/08/2023 QCC Office Supplies $301.56
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$301.56
36474 03/03/2023 Open Accounts Payable Starbird Consulting LLC $3,128.64
Invoice Date Description Amount
0222 02/23/2023 Regnart Road Improvements through 01312023 $2,541.39
0221 02/23/2023 McClellan Ranch West Parking Lot through 01312022 $587.25
Paying Fund Cash Account Amount
420 - Capital Improvement Fund 420 100-100 (Cash & Investments Assets Operating
Cash)
$3,128.64
36475 03/03/2023 Open Accounts Payable Statewide Traffic Safety & Signs Inc.$524.15
Invoice Date Description Amount
05040084 02/27/2023 Streets - Blk/Lime Jacket, Lime Rain Paints $364.30
05040083 02/27/2023 Streets - Telescopic Handle, 18" Stop/Slow $159.85
Paying Fund Cash Account Amount
270 - Transportation Fund 270 100-100 (Cash & Investments Assets Operating
Cash)
$524.15
36476 03/03/2023 Open Accounts Payable The Home Depot Pro $1,693.28
Invoice Date Description Amount
731585816 02/16/2023 Facilities - Park Bathroom Supplies $1,693.28
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,693.28
36477 03/03/2023 Open Accounts Payable THERMAL MECHANICAL, INC.$500.00
Invoice Date Description Amount
86801 01/31/2023 Facilities - City Hall Prepared Duct Mod for Remodel $500.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$500.00
36478 03/03/2023 Open Accounts Payable Tripepi, Smith and Associates, Inc $2,375.00
Invoice Date Description Amount
9485 01/31/2023 Scene February 2023 $2,375.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$2,375.00
Monday, March 06, 2023Pages: 14 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
349
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
36479 03/03/2023 Open Accounts Payable UpCodes, Inc.$3,960.00
Invoice Date Description Amount
82600 03/01/2023 Annual Subscription for Building Division staff $3,960.00
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$3,960.00
36480 03/03/2023 Open Accounts Payable VMI, Inc.$1,802.96
Invoice Date Description Amount
305323 01/19/2023 CRESTRON DM Lite Tx; DM Lite HDMI over CatX Rx;
Base Transceiver
$1,802.96
Paying Fund Cash Account Amount
100 - General Fund 100 100-100 (Cash & Investments Assets Operating
Cash)
$1,802.96
36481 03/03/2023 Open Accounts Payable Zoom Video Communications, Inc.$286.72
Invoice Date Description Amount
INV189758395 02/22/2023 Zoo Webinar 1000 Monthly Feb 22, 2023-Mar 21,
2023
$286.72
Paying Fund Cash Account Amount
610 - Innovation & Technology 610 100-100 (Cash & Investments Assets Operating
Cash)
$286.72
Type EFT Totals:56 Transactions $268,885.77
Main Account - Main Checking Account Totals
Checks Status Count Transaction Amount Reconciled Amount
Open 43 $187,114.59 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 43 $187,114.59 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Monday, March 06, 2023Pages: 15 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
350
Number Date Status Void Reason
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
Reconciled
Amount Difference
Open 56 $268,885.77 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 56 $268,885.77 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 99 $456,000.36 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 99 $456,000.36 $0.00
Grand Totals:
Checks Status Count Transaction Amount Reconciled Amount
Open 43 $187,114.59 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 43 $187,114.59 $0.00
EFTs Status Count Transaction Amount Reconciled Amount
Open 56 $268,885.77 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Total 56 $268,885.77 $0.00
All Status Count Transaction Amount Reconciled Amount
Open 99 $456,000.36 $0.00
Reconciled 0 $0.00 $0.00
Voided 0 $0.00 $0.00
Stopped 0 $0.00 $0.00
Total 99 $456,000.36 $0.00
Monday, March 06, 2023Pages: 16 of 16user: Vi Tran
Payment Register
**LIVE** Cupertino **LIVE**
From Payment Date: 2/25/2023 - To Payment Date: 3/3/2023
351
CITY OF CUPERTINO
Agenda Item
23-12177 Agenda Date: 3/27/2023
Agenda #: 5.
INFORMATIONAL ITEM Subject: Consider a Budget Format Review Update
Receive a Budget Format Review Update
Presenter: Thomas Leung, Budget Manager
5:25(10)
CITY OF CUPERTINO Printed on 3/24/2023Page 1 of 1
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CITY OF CUPERTINO
Agenda Item
23-12178 Agenda Date: 3/27/2023
Agenda #: 6.
INFORMATIONAL ITEM Subject: Consider the Audit Committee 2023 Schedule and Work Plan
Receive the Audit Committee 2023 Schedule and Work Plan and provide direction to staff
Presenter: Thomas Leung, Budget Manager
5:35(10)
CITY OF CUPERTINO Printed on 3/24/2023Page 1 of 1
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January 23, 2023 February 27, 2023 March 27, 2023 April 24, 2023 July 24, 2023 October 23, 2023
Approve Prior Meeting Minutes Approve Prior Meeting Minutes Approve Prior Meeting Minutes Approve Prior Meeting Minutes Approve Prior Meeting Minutes Approve Prior Meeting Minutes
Monthly Treasurer's Report for
December 2022
Monthly Treasurer's Report for
January 2022
Monthly Treasurer's Report for
February 2023
Quarterly Treasurer's Investment
Report
Quarterly Treasurer's Investment
Report
Quarterly Treasurer's Investment
Report
Monthly Treasurer's Investment
Report for December 2022
Monthly Treasurer's Investment
Report for January 2022
Monthly Treasurer's Investment
Report for February 2023
OPEB & Pension Trust
Performance Report for Quarter
Ending March 31, 2023
OPEB & Pension Trust
Performance Report for Quarter
Ending June 30, 2023
OPEB & Pension Trust
Performance Report for Quarter
Ending September 30, 2023
OPEB & Pension Trust
Performance Report for Quarter
Ending December 31, 2022
Internal Audit Update Budget Format Review Internal Audit Update Internal Audit Update Internal Audit Update
Update on Status of Draft ACFR
and AUP Reports
Review of FY 2021-22 ACFR and
Supplemental Reports
Annual Review of City Investment
Policy
Interim Audit and AUP
Engagements
Annual Review of OPEB and
Pension Trust Investment Policies
External Auditor Selection
(tentative)
Follow-up on Previous Fiscal Year
Management Letter Items and
Management Responses
Budget Format Review
Source: Cupertino, CA Municipal Code, Chapter 2.88.100: Audit Committee
The powers and functions of the Audit Committee shall be as follows:
A:To review the annual audit report and management letter;
B:To recommend appointment of auditors;
C.To review the monthly Treasurer’s report;
D.To recommend a budget format;
E.To review City investment policies and internal controls of such policies.
F.To recommend appointment of internal auditors;
G.To review internal audit reports.
H.To review quarterly Fraud, Waste, and Abuse Program reports. (Ord. 22-2243 § 1, 2023; Ord. 20-2208, § 1, 2020; Ord. 1679, § 1 (part), 1995)
CITY OF CUPERTINO - AUDIT COMMITTEE 2023 SCHEDULE AND WORK PLAN
Summary of Duties – Powers – Responsibilities of
Cupertino Audit Committee
354