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Home My WebLink AboutAC - 01.26.2026CUPERTINO CITY OF CUPERTINO AGENDA AUDIT COMMITTEE : i l ` {' ,,ice' / 1►� 7 10185 North Stelling Road, Quinlan Conference Room and viAY conference Monday, January 26, 2026""" 4:00 PM Regular Meeting a" IN -PERSON AND TELECONFERENCE / PUBLIC PARTICIPATION INFORMATION OPTIONS TO OBSERVE: Members of the public wishing to observe the meeting may do so in one of the following ways: 1) Attend in person at Quinlan Community Center, Conference Room, 10185 N. Stelling Road. 2) Watch a live stream online at https:Hyoutube.com/@cupertinocitycommission. 3) Attend in person at a remote Teleconference Location noticed pursuant to Gov. Code 54953(b)(2), which location, if noticed, would be stated on the cover page of this agenda. OPTIONS TO PARTICIPATE AND COMMENT: Members of the public wishing to address the Audit Committee may do so in the following ways: 1) Appear in person at Quinlan Community Center, Conference Room, 10185 N. Stelling Road: A. During "Oral Communications", the public may comment on matters not on the agenda, and for agendized matters, the public may comment during the public comment period for each agendized item. B. Speakers are requested to complete a Speaker Card. While completion of Speaker Cards is voluntary and not required to attend the meeting or provide comments, it is helpful for the purposes of ensuring that all speakers are called upon. C. Speakers must wait to be called and may begin speaking when recognized by the Chair. D. Speakers are limited to three (3) minutes each. However, the Chair may reduce the speaking time depending on the number of people who wish to speak on an item. A speaker representing a group of 2 to 5 or more people who are present may have up to 2 minutes per group member, up to 10 minutes maximum. E. Please note that due to cyber security concerns, speakers are not allowed to connect any personal devices to any City equipment. However, speakers that wish to share a document (e.g. presentations, photographs or other documents) during oral comments may do so by: a. E-mailing the document to auditcommittee@cupertino.gov by 1:00 p.m. and staff will Page 1 z a8rod uiOa•aTau1ooz@L6S8£96Gf,Z8 UIS 16SS £96L tZ8 :QI 2ui}9aW (}sea S fl) LZL'LL'GfiZ'90Z (}saM Sfl) L91'6L'S61'Ttl :uopelulOJUI £Z£'H :uia}sAs uioOT dIS/£Z£'H ue ei.A'D •Taquinu auolld Tiail} Io s}TSTp inoj }sul ail} Aq Tads o} paziuSwaz aq IIIM sia3leadS •a 9, IeTQ :a}nurun O} paNSe uagM !6, IeiQ :Tads o} „pueq asiei, o,L •q 16SS £96G tZ8 :QI-dVNIagM Ta}ua pue ££89-006-699 Ima 'e :sMollol se Sui}aalu aqj uio[ Arta sia3leads pue aauvApe ui paimbai si uoT}eT}si$aT oN :(Aluo oipnv) auOgd Ag•g •TaToldxq }auaa}ul SuipnlauT'siasMoTq Taplo ut palgesip aq dear �f}ileuoi}aun; uie}TaJ •+L rTeleS'+ZL aspq };osoT:)ryW'+LZ xo;aTT3'+0£ auiOTilJ :pasn si'�uTMollo; all} se l Dns 'TasMo.iq a}ep-o}-dn pue }uauna }sour ail} awns a)leut'pasn ST TasMoTq a II •TasMoTq lauaa}ui Tiail} ui SuT}aaui all} O} }JauUOJ TO aTeM}jOS (uiOOZ) aJuaTajuOJala} aiI} peoluMop Xl}Ja.TTp uea au0 :,(Iln;aiea fggjgi}eduioa leaTuilaa} Inoge suoi}ana}sui SupAollo; ail} peat aseald •a •3leads of pa}duioid uayA ,a}nuiun, 3laila }snuff sialeads 'paziuSoaaT aaup •uoi1tulsi5ai ToI asn Mail} auieu ail} Aq paziuSoaaT aq IIiM sia3leadS •q •Teu Ram all} 5uiuiof }nogg uoilemiolui 2uiuie}uoJ pPUTa UOT}eLUTTJUOJ a aAiaJaT IIiM S}Ued}S12a_d 'e VA86ZDdbZIXDAIW:)L'fdA'Iu NM/TalsiSaT/TeuigaM/sn•luooz•our}Tadnalof}ia//:sdllq :Sui}aaui all} ssaaae o} Molaq juil aqj uo Suilmp Sq aauenpe ui Ta}siSai }snur saa>IeadS :(oapin pue oipnV) aaTAap Z)TuoT}aala ue uo WOOZ PIA auilup •V :sseM sulmolloj ail} 3o auo uT aauaTajuoaalaZ (£ - ep ssauisnq SuTMollol aqi Io pua ail} Xq a}TsgaM s,XI!D ail} o} pa}sod aq Ipm liut}aaui uoissiuiu'OD aq4 Io pua all} ql ?noTil} }nq'auilpeap •uT•d OO:Z ail} Ta}le paAtaaaT aa}}iuTuro:) }ipnv aqi o} passaim, s}uauiuioD •Q •SullaaLu aqj 3o �?uiuuTSaq ail} aTo;aq pa}ngtT}sip pue pagsilgnd suoT}eaTunuTuioa ua}}iTM ui papnlaui aq IIlm Sui}aauT a-ql Io Xup ail} uo •ui•d OO:Z Aq paniaJaT aa}}iu[uioJ }ipnV all of T� u i t KOS6 VD 'ouiliadnD 'anuaAV azao L 00£OL 'IIeH A,!:)`aa}}ruiuroD }ipnV ouiliadnD :ail} o} passa.ippe pasani ap,pue T�fll " 19 4 g) n •AoS•oui}Tadna@aa}}ituuioD}r ' yx :sMoIIoI se su ju fiAWLtAOS u41ifMI °,(4 quawmw leio TnoX i?uiznp s}uauinaop • { p1EI fI ' a Aap 9ZOZ'9Z STpnuef Audit Committee Agenda January 26, 2026 D. Online via the teleconferencing device (Audio and Video) being used to provide access to the meeting from a remote Teleconference Location noticed pursuant to Gov. Code 54953(b)(2), which location, if noticed, would be stated on the cover page of this agenda. a) Speakers are required to notify the City Clerk via email to cityclerk@cupertino.gov prior to noon on the date of the meeting during which they plan to participate and comment from the remote location noticed to ensure the City Clerk is prepared to accept their comment. b) If the teleconferencing device malfunctions impeding access to the meeting from the remote location, the speaker may alternatively participate via the other options for remote participation provided above. ROLL CALL POSTPONEMENTS AND ORDERS OF THE DAY ORAL COMMUNICATIONS This portion of the meeting is reserved for persons zvishing to address the Committee on any matter zvithin the jurisdiction of the Committee and not on the agenda. Speakers are limited to three (3) minutes. In most cases, State lazv zvill prohibit the Commission from making any decisions zvith respect to a matter not on the agenda. CONSENT CALENDAR Items appearing on the Consent Calendar are considered routine Audit Committee business and may be approved by one motion. Typical items may include meeting minutes and investment reports. Any member of the Committee may request to have an item removed from the Consent Calendar. Members of the public may provide input on one or more consent calendar items zvhen the Chair asks for public comments on the Consent Calendar. 1. Subject: Approval of December 1, 2025 Audit Committee meeting minutes Recommended Action: Approval of December 1, 2025 Audit Committee meeting minutes A - Draft Minutes 2. Subject: Receive OPEB & Pension Section 115 Trust Performance Report for Quarter Ending December 30, 2025 and forward to City Council Recommended Action: Receive OPEB & Pension Section 115 Trust Performance Report for Quarter Ending December 30, 2025 and forward to City Council Presenter: PARS and US Bank A - OPEB Pension Section 115 Trust Performance Report for Quarter Ending December 31, 2025 B - City o� f Cupertino Investment Review Page 3 p a8vd uel&pOM Pue alnpaipS 9ZOZ aal}nuuzoD lipnV posodozd aip aniaaag WELLI gVNOI.LVMOdNI :laa�nSS '8 9ZOZ nue - pocttaN uopepgen Iipny oupza nD - g 9Z-9I-I0 po ag srtpelS Irpny Ieuaalul - y (Sil)OO:Si XIl?,L JaVq Ualuasazd alepdn sutuBoid asnqV pue 'alseM 'pnex3 pue IlpnV leuzalul aLp antaaaN :uopaV papuaunuoaa21 alupdn sumBoxd asngV pue 'a4suM 'pnez3 pue IipnV Iuuaalul aLp antaaaN WHII 'IVNOIJVIMOdNI T)D gnSS '9 qod Iuaur}sanuI Isru jL uotsuag - g ailog IuaugsanuI Isna1, ggg0 - V Izo�3eIS (Oiv)OZ:iv Twfl Sfl PUP SNVd :Jaluasa.zd pDunoD A4ID of paen o3 pue lbrgod luaurlsanul Isrus Sill uOIPaS uoisuad 28 ggdO aniaaa21 :uollaV papuaunuoaa2l ADIlod luaurlsanul ISTUZ Sill uopaaS uotsuad 2g ggdO antaaaN WR LI NOI.LDV :laa—.ASS 's (Ol)Ol:iv .zajnseajL ti}iJ pue saatnzas anpualsruiuzpV Io Tolaa.uQ 2uyay ,oazoTo ueLpuuoj :,xaluasazd aieLl:) aain pue aiuLl:) luloddv :uouaV PapuaunuoDax ilei4D aain pue jilegD to 4uou4utoddV WH LI NOIJ DV :laa Q SS SKINISMI MdN dNON - SSdNISflfl QIO SZOZ aaquraxia luauralels Iunoaay !uvZ — Q SZOZ aaqurwaa maurawis Iunoaay ggg0 pue uolsuad Suyg — SZOZ iagtuaz)aCl Iuaurawls iuipolsnD iatpuegD — g SZOZ zaqura:)aQ Izo aN }uaurlsanul aajpuegD — y laoo au pals luaura2uueW lassy ,zalpuuLID pue 'jaznsuail ,141:) pue saainaaS anpuzlstuTmpV ;o zolaaHQ 2ur4aV 'Oazo.zO uelpeuOj :aaluasaad punoD XI1D of p.TLm.Tol pue SZOZ 'l£ aaquraaaQ 2urpug ,zal.Tuno aLll ao3 podaX Iuow4sanul s,aamsua l ai-p aniaaaN :uorlaV PapuaururOaaN SiZOZ 'I£ iaquzaaaQ -urpug iapienb aLll Tol podox luauzlsaAul s iajnsuail, aLll antaaaZl :Iaa�gnS •g 9ZOZ 19Z Annue j epuaSV aallrtuuro' lipnV Audit Committee Agenda January 26, 2026 Recommended Action: Receive the proposed Audit Committee 2026 Schedule and Workplan Presenter: Jonathan Orozco, Acting Director of Administrative Services and City Treasurer 5:15(5) A - Proposed Audit Committee 2026 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 City Council, Commissioners or staff concerning a matter on the agenda are included as supplemental material to the agendized item. These written communications are accessible to the public through the City 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. Page 5