The URL can be used to link to this page

Home My WebLink About2026.06.04 District Board Agenda Packet 9013TH TA110 Se Noe AG ker • 1950 • `1 `G� e4/C UTILITY p`STP SOUTH TAHOE PUBLIC UTILITY DISTRICT REGULAR BOARD MEETING AGENDA Thursday, June 4, 2026 - 2:00 p.m. District Board Room 1275 Meadow Crest Drive, South Lake Tahoe, California Joel Henderson, Director BOARD MEMBERS Kelly Sheehan, Director Nick Haven, Vice President Shane Romsos, President Nick Exline, Director Paul Hughes, General Manager Andrea Salazar, Chief Financial Officer 1 . CALL TO ORDER REGULAR MEETING- PLEDGE OF ALLEGIANCE (At this time, please silence phones and other electronic devices so as not to disrupt the business of the meeting.) 2. COMMENTS FROM THE PUBLIC (This is an opportunity for members of the public to address the Board on any short non-agenda items that are within the subject matter jurisdiction of the District. No discussion or action can be taken on matters not listed on the agenda, per the Brown Act. Each member of the public who wishes to comment shall be allotted five minutes,subject to modification by the Board President.) 3. CORRECTIONS TO THE AGENDA OR CONSENT CALENDAR (For purposes of the Brown Act, all Action and Consent items listed give a brief description of each item of business to be transacted or discussed. Recommendations of the staff, as shown, do not prevent the Board from taking other action.) 4. ADOPTION OF CONSENT CALENDAR (Any item can be removed to be discussed and considered separately upon request. Comments and questions from members of the public, staff or Board can be taken when the comment does not necessitate separate action.) 5. CONSENT ITEMS BROUGHT FORWARD FOR SEPARATE DISCUSSION/ACTION 6. ITEMS FOR BOARD ACTION a. Fiscal Year 2026/2027 Water and Sewer Service Charge Rates (Andrea Salazar, Chief Financial Officer) Approve Resolution No. 3332-26 confirming the water and sewer service charge rate increases of 6.5% and 6.5% for Fiscal Year 2026/2027. b. Fiscal Year 2026/2027 Water Enterprise Fund Budget (Andrea Salazar, Chief Financial Officer) Adopt Resolution No. 3333-26 for the Fiscal Year 2026/2027 Water Enterprise Fund Budget and authorize staff to incorporate any adjustments or changes necessary because of Board action. c. Fiscal Year 2026/2027 Sewer Enterprise Fund Budget (Andrea Salazar, Chief Financial Officer) Adopt Resolution No. 3334-26 for the Fiscal Year 2026/2027 Sewer Enterprise Fund Budget and authorize staff to incorporate any adjustments or changes necessary because of Board action. REGULAR BOARD MEETING AGENDA-June 4, 2026 PAGE-2 7. STANDING AND AD-HOC COMMITTEES AND LIAISON REPORTS (Discussions may take place; however, no action will be taken.) 8. BOARD MEMBER REPORTS (Discussions may take place; however, no action will be taken.) 9. STAFF/ATTORNEY REPORTS (Discussions may take place; however, no action will be taken.) 10. GENERAL MANAGER REPORT (Discussion may take place; however, no action will be taken.) 1 1 . NOTICE OF PAST AND FUTURE MEETINGS/EVENTS Past Meetings/Events 05/21/2026-2:00 p.m. Regular Board Meeting at the District Future Meetings/Events 06/09/2026-3:30 p.m. Operations Committee Meeting at the District 06/10/2026- 10:00 a.m. El Dorado Water Agency Meeting in Placerville 06/18/2026-2:00 p.m. Regular Board Meeting at the District 12. ITEMS FOR CLOSED SESSION (The Board will adjourn to Closed Session to discuss items identified below.Closed Session is not open to the public; however, an opportunity will be provided at this time if members of the public would like to comment on any item listed-three minute limit,subject to modification by the Board President.) a. Pursuant to Section 54956.9(d)(1) of the California Government code, Closed Session may be held for conference with legal counsel regarding existing litigation: Yolo County Superior Court Case CV 2021-1686, Alpine County vs. South Tahoe Public Utility District; et al. ADJOURNMENT (The next Regular Board Meeting is Thursday, June 18,2026, at 2:00 p.m.) The South Tahoe Public Utility District Board of Directors regularly meets the first and third Thursday of each month.A complete Agenda packet is available for review at the meeting and at the District office during the hours of 8:00 a.m.and 5:00 p.m.,Monday through Friday. A recording of the meeting is retained for 30 days after Minutes of the meeting have been approved.Items on the Agenda are numbered for identification purposes only and will not necessarily be considered in the order in which they appear.Designated times are for particular items only.Public Hearings will not be called to order prior to the time specified,but may occur slightly later than the specified time. Public participation is encouraged.Public comments on items appearing on the Agenda will be taken at the same time the Agenda items are heard;comments should be brief and directed to the specifics of the item being considered.Please provide the Clerk of the Board with a copy of all written materials presented at the meeting.Comments on items not on the Agenda can be heard during"Comments from the Audience;"however,action cannot be taken on items not on the Agenda. Backup materials relating to an open session item on this Agenda,which are not included with the Board packet,will be made available for public inspection at the same time they are distributed or made available to the Board,and can be viewed at the District office,at the Board meeting and upon request to the Clerk of the Board. The meeting location is accessible to people with disabilities. Every reasonable effort will be made to accommodate participation of the disabled in all of the District's public meetings.If particular accommodations are needed,please contact the Clerk of the Board at(530) 544-6474,extension 6203.All inquiries must be made at least 48 hours in advance of the meeting. REGULAR BOARD MEETING AGENDA-June 4, 2026 PAGE -3 yOVT ANOF eiet AEI 4,0r . 950 . 2 �,r4 e4IC UTILITY 0191 SOUTH TAHOE PUBLIC UTILITY DISTRICT CONSENT CALENDAR Thursday, May 21, 2026 ITEMS FOR CONSENT a. 2026-2027 POLYMER SUPPLIES CONTRACT (Aaron Buckman, Manager of Plant Operations) Authorize a one-year extension of the Polymer Purchase Contract for Fiscal Year 2026/2027 with Polydyne, Inc., in the estimated amount of $143,000. b. MARCH 31, 2026 FISCAL YEAR TO DATE FINANCIAL STATEMENTS (Andrea Salazar, Chief Financial Officer) Receive and file the March 31, 2026 Income Statement and Balance Sheet Reports. c. ANNUAL ADOPTION OF STATEMENT OF INVESTMENT POLICY (Greg Dupree,Accounting Manager) Adopt Resolution No. 3335-26 (superseding Resolution No. 3311-25), adopting the Statement of Investment Policy. d. RECEIVE AND FILE PAYMENT OF CLAIMS (Greg Dupree, Accounting Manager) Receive and file Payment of Claims in the amount of $1,390,263.37. e. REGULAR BOARD MEETING MINUTES: May 21, 2026 (Melanie Guttry, Executive Services Manager/Clerk of the Board) Approve May 21, 2026, Minutes General Manager Paul Hughes Directors 44ex • 1950 • w$ te Nick Haven South T Shane Romsos Joel Henderson Sheehan Fublic Utility District Kelly Nick Exline 1275 Meadow Crest Drive•South Lake Tahoe•CA 96150-7401 Phone 530 544-6474•Fax 530 541-0614•www.stpud.us BOARD AGENDA ITEM 4a TO: Board of Directors FROM: Aaron Buckman, Manager of Plant Operations MEETING DATE: June 04, 2026 ITEM- PROJECT NAME: 2026-2027 Polymer Supplies Contract REQUESTED BOARD ACTION: Authorize a one-year extension of the Polymer Purchase Contract for Fiscal Year 2026/2027 with Polydyne, Inc., in the estimated amount of $143,000. DISCUSSION: Polymer is used as a dewatering aid in the biosolids handling process. An invitation to pre-qualify was advertised and posted on PlanetBids in January 2025. Among the pre-qualified products, Polydyne, Inc.'s WE-2887 provided the best price-to- performance result and was awarded the Contract by the Board on September 18, 2025. Due to the complexity of testing qualified products, staff included an option for up to four additional one-year Contract extensions, subject to mutual agreement by the parties. Staff have determined that it is in the District's best interest to extend the Contract with Polydyne, Inc. for an additional one-year term. Polydyne, Inc. has agreed to maintain pricing consistent with the previous year. This item was reviewed by the Purchasing Manager. SCHEDULE: Upon Board Approval COSTS: $143,000 ACCOUNT NO: 10.12.4720 BUDGETED AMOUNT AVAILABLE: $154,157 (Fiscal Year 2026/2027) IDENTIFIED CAPITAL IMPROVEMENT PROJECT (CIP): ❑ Yes ❑ No N/A ATTACHMENTS: Quote from Polydyne, Inc. CONCURRENCE WITH REQUESTED ACTION: _ CATEGORY: Sewer/Water GENERAL MANAGER: YES r NO CHIEF FINANCIAL OFFICER: YES �r '� NO SPIF WATER SCIENCE polydyneinc.com Emailed to:hbaugh@stpud.us May 21, 2026 Heidi C. Baugh, Purchasing Manager South Tahoe Public Utility District 1275 Meadow Crest Drive South Lake Tahoe, CA 96150 SUBJECT: Contract Renewal Proposal for 2025-2026 Emulsion Polymer Bid Dear Ms. Baugh, The subject contract between Polydyne Inc. and the South Tahoe Public Utility District will expire as of June 31, 2026.At this time, Polydyne Inc. is pleased to offer the District an extension of the referenced contract for an additional year.The product and price will remain unchanged and is as follows: PRODUCT UNIT PRICE PACKAGE CLARIFLOC WE-2887 $1.43/LB. DELIVERED* 2300 LB.TOTE *Above quoted price is exclusive of any applicable state and local taxes.All applicable taxes will appear as a separate line item on invoices. The renewal Contract term will be July 01, 2026 through June 30, 2027. All other terms and conditions will remain the same. We thank you for your business and look forward to continuing our valued partnership. If this proposal is acceptable to the District, please email bids@polydyneinc.com. If you have any questions or need any additional information, please feel free to contact Cathy Huynh,Technical Sales Representative at (916) 200-6465 or by email to Chuynh@polydyneinc.com. Sin ely, j7/ Boy ey Sr. Vice-President Polydyne Inc. • 1 Chemical Plant Road • Riceboro, GA 31323 USA •Tel 800.848.7659 General Manager Paul Hughes Directors 44ex • 1950 • w$ te Nick Haven _ ou th ShaneRomsos Joel Henderson Sheehan Public Utility District Kelly Nick Exline _ I 1275 Meadow Crest Drive•South Lake Tahoe•CA 96150-7401 Phone 530 544-6474•Fax 530 541-0614•www.stpud.us BOARD AGENDA ITEM 4b TO: Board of Directors FROM: Andrea Salazar, Chief Financial Officer MEETING DATE: June 4, 2026 ITEM- PROJECT NAME: March 31, 2026 Fiscal Year to Date Financial Statements REQUESTED BOARD ACTION: Receive and file the March 31, 2026 Income Statement and Balance Sheet Reports. DISCUSSION: The District's auditors, Mann, Urrutia, Nelson CPA's and Associates, recommend that the District's Quarterly Financial Statements be placed on the Board meeting Agenda for receipt and file by the Board of Directors. Attached are the March 31, 2026, fiscal year to date Income Statements and Balance Sheet for the Water and Sewer Funds. Revenue Analysis Water and sewer service charge revenues through the third quarter ending March 31, 2026 are both at 74% of budget. Both are on target with budget. This is typical as consumption decreases throughout the winter months, total water service charges balance out from the higher receipts in the first quarter of the year due to irrigation. Other revenues included in the category "Charges for Sales and Services" include capacity fees and permit fees, the majority of which are collected at either the beginning or end of the fiscal year, during construction season. Water and sewer connection and service fees are at 64% and 110% of budget on March 31, 2026. Sewer connection fees are greater than budget due to another phase of the Sugar Pine housing complex. Combined water and sewer tax revenue is at 49.9% of budget. The next tax revenue distribution will occur in April 2026. Total investment earnings through March 31, 2026 reflect the reversal of year-end fair market value adjustments from Fiscal Year 2025 and will be booked intermittently through the remainder of Fiscal Year 2026. Typically, grant revenues are negative in the first few months of the year due to the reversal of year-end accrual adjustments. This will normalize throughout the year as grant revenue is recognized as can be seen in the Water Fund for this period. Combined other Andrea Salazar June 4, 2026 Page 2 operating and nonoperating revenues are at 130.9% of budget. These revenues are received sporadically throughout the year unlike service charges and as such the percentage recognized compared to budget can vary vastly both on a quarterly and year-over-year basis. The significant budget overage in the Sewer Fund for Other Income includes a prior quarter State Revolving Fund (SRF) Loan Reimbursement of $644,486. Expense Analysis Water and sewer operating expenses through March 31, 2026, are at 58% and 57% of budget. It is important to note that fourth quarter year-end payroll and other accrual entries can erase savings recorded early in the year. Debt service payments are recorded on specific due dates, not evenly distributed throughout the year, so the percentage of budget spent is not a relevant statistic until all payments for the year have been made. Water and sewer capital outlay spending through March 31, 2026, is $1 1.5 million and $3.2 million representing 68% and 17% of budget. Most of these expenditures are incurred at the beginning and end of the fiscal year, during construction season. At the end of the fiscal year an analysis is performed to determine the status of projects and the potential need to roll budgeted funds into the next year for incomplete projects, or to increase capital reserves for future use. Recommendation District staff recommends the Board receive and file the attached March 31, 2026, income statements and balance sheet as presented. SCHEDULE: N/A COSTS: N/A ACCOUNT NO: N/A BUDGETED AMOUNT AVAILABLE: N/A IDENTIFIED CAPITAL IMPROVEMENT PROJECT (CIP): ❑ Yes ❑ No N/A ATTACHMENTS: March 31, 2026 Income Statement and Balance Sheet CONCURRENCE WITH REQUESTED ACTION: CATEGORY: Sewer/Water GENERAL MANAGER: YES n l- NO CHIEF FINANCIAL OFFICER: YES 4 NO �00TH TA Ho Income Statement Through 03/31/26 Summary Listing A& Pker • 1 95 0 • Wa` `G� 6ZiC UTILITY p s-C Annual MTD YTD Budget Less %of Prior Year Classification Budget Amount Actual Amount Actual Amount YTD Actual Budget Total Actual Fund Category Proprietary Funds Fund Type Enterprise Funds Fund 10-Sewer Fund Operating Revenue Charges for sales and services Service charges 22,873,349.00 1,875,205.08 16,860,637.96 6,012,711.04 74 20,658,699.79 Connection and service fees 547,400.00 4,965.00 600,171.59 (52,771.59) 110 614,090.02 Other operating income 521,910.00 120,718.52 462,723.23 59,186.77 89 524,338.25 Charges for sales and services Totals $23,942,659.00 $2,000,888.60 $17,923,532.78 $6,019,126.22 75% $21,797,128.06 Operating Revenue Totals $23,942,659.00 $2,000,888.60 $17,923,532.78 $6,019,126.22 75% $21,797,128.06 Non Operating Revenue Tax revenue 10,130,806.00 (85,304.24) 6,181,428.29 3,949,377.71 61 8,485,765.26 Investment earnings 236,000.00 .85 (99,372.88) 335,372.88 (42) 1,541,906.50 Aid from governmental agencies 114,000.00 .00 (126,520.94) 240,520.94 (111) 288,270.67 Other nonoperating income 306,219.00 3,207.95 689,731.80 (383,512.80) 225 130,153.81 Non Operating Revenue Totals $10,787,025.00 ($82,095.44) $6,645,266.27 $4,141,758.73 62% $10,446,096.24 Operating Expenses Wages Full Time 9,882,617.00 902,223.38 6,166,720.35 3,715,896.65 62 8,690,397.60 Wages Part-Time 283,100.00 11,581.49 194,974.43 88,125.57 69 182,429.55 Benefits 5,322,387.00 397,840.77 3,028,077.57 2,294,309.43 57 5,397,314.23 Depreciation and amortization 5,962,000.00 .00 2,444,715.11 3,517,284.89 41 5,775,589.73 Utilities 4,350,930.00 261,347.60 2,881,222.59 1,469,707.41 66 4,265,441.68 Repairs and maintenance 1,742,017.00 160,952.83 1,249,708.99 492,308.01 72 1,475,901.04 Other operating expenses 4,311,417.00 179,174.42 2,275,857.00 2,035,560.00 53 3,562,732.10 Operating Expenses Totals $31,854,468.00 $1,913,120.49 $18,241,276.04 $13,613,191.96 57% $29,349,805.93 Nonoperating Expenses Debt Service-Net 2,111,802.00 .00 .00 2,111,802.00 0 .00 Interest expense 1,307,122.00 .00 573,013.40 734,108.60 44 1,232,039.92 Other expense 883,883.00 8,590.28 162,087.65 721,795.35 18 859,003.27 Nonoperating Expenses Totals $4,302,807.00 $8,590.28 $735,101.05 $3,567,705.95 17% $2,091,043.19 Capital Outlay Expenditures 19,547,747.00 451,096.46 3,256,127.23 16,291,619.77 17 (2.27) Fund 10-Sewer Fund Totals REVENUE TOTALS 34,729,684.00 1,918,793.16 24,568,799.05 10,160,884.95 71% 32,243,224.30 EXPENSE TOTALS 55,705,022.00 2,372,807.23 22,232,504.32 33,472,517.68 40% 31,440,846.85 Fund 10-Sewer Fund Net Gain(Loss) ($20,975,338.00) ($454,014.07) $2,336,294.73 ($23,311,632.73) (11%) $802,377.45 Run by Andrea Salazar on 05/26/2026 12:00:16 PM Page 1 of 3 �00TH TARO Income Statement Through 03/31/26 Summary Listing A& Pker • 1950 • Wa` `G� 6�1C UTILITY p s-C Annual MTD YTD Budget Less %of Prior Year Classification Budget Amount Actual Amount Actual Amount YTD Actual Budget Total Actual Fund Category Proprietary Funds Fund Type Enterprise Funds Fund 20-Water Fund Operating Revenue Charges for sales and services Service charges 18,144,396.00 1,378,853.62 13,497,140.68 4,647,255.32 74 16,795,561.60 Connection and service fees 788,345.00 206.00 505,537.45 282,807.55 64 761,276.10 Other operating income 225,000.00 19,348.82 201,482.05 23,517.95 90 305,553.71 Charges for sales and services Totals $19,157,741.00 $1,398,408.44 $14,204,160.18 $4,953,580.82 74% $17,862,391.41 Operating Revenue Totals $19,157,741.00 $1,398,408.44 $14,204,160.18 $4,953,580.82 74% $17,862,391.41 Non Operating Revenue Tax revenue 2,585,091.00 85,304.24 174,840.26 2,410,250.74 7 3,983,540.48 Investment earnings 118,000.00 31.11 (75,129.10) 193,129.10 (64) 975,188.97 Aid from governmental agencies 1,981,590.00 .00 920,974.35 1,060,615.65 46 469,769.51 Other nonoperating income 223,256.00 3,207.94 317,524.90 (94,268.90) 142 294,625.69 Non Operating Revenue Totals $4,907,937.00 $88,543.29 $1,338,210.41 $3,569,726.59 27% $5,723,124.65 Operating Expenses Wages Full Time 6,640,706.00 611,640.43 4,147,202.51 2,493,503.49 62 5,555,853.49 Wages Part-Time 310,200.00 11,578.70 223,744.94 86,455.06 72 183,914.08 Benefits 3,484,454.00 265,058.16 1,973,983.63 1,510,470.37 57 3,433,949.58 Depreciation and amortization 4,847,000.00 .00 2,212,019.87 2,634,980.13 46 5,040,499.43 Utilities 1,693,480.00 149,944.38 1,200,252.57 493,227.43 71 2,041,651.99 Repairs and maintenance 2,538,467.00 159,765.44 2,129,749.86 408,717.14 84 2,271,020.71 Other operating expenses 3,717,100.00 255,663.69 1,530,656.14 2,186,443.86 41 2,526,917.59 Operating Expenses Totals $23,231,407.00 $1,453,650.80 $13,417,609.52 $9,813,797.48 58% $21,053,806.87 Nonoperating Expenses Debt Service-Net 1,429,959.00 .00 .00 1,429,959.00 0 .00 Interest expense 1,144,583.00 .00 440,697.43 703,885.57 39 1,108,045.03 Other expense 46,005.00 2,000.00 61,810.45 (15,805.45) 134 59,192.48 Nonoperating Expenses Totals $2,620,547.00 $2,000.00 $502,507.88 $2,118,039.12 19% $1,167,237.51 Capital Outlay Expenditures 16,976,674.00 320,753.80 11,571,812.51 5,404,861.49 68 (2.71) Fund 20-Water Fund Totals REVENUE TOTALS 24,065,678.00 1,486,951.73 15,542,370.59 8,523,307.41 65% 23,585,516.06 EXPENSE TOTALS 42,828,628.00 1,776,404.60 25,491,929.91 17,336,698.09 60% 22,221,041.67 Fund 20-Water Fund Net Gain(Loss) ($18,762,950.00) ($289,452.87) ($9,949,559.32) ($8,813,390.68) 53% $1,364,474.39 Fund Type Enterprise Funds Totals REVENUE TOTALS 58,795,362.00 3,405,744.89 40,111,169.64 18,684,192.36 68% 55,828,740.36 EXPENSE TOTALS 98,533,650.00 4,149,211.83 47,724,434.23 50,809,215.77 48% 53,661,888.52 Run by Andrea Salazar on 05/26/2026 12:00:16 PM Page 2 of 3 �00TH TARO Income Statement Through 03/31/26 Summary Listing A& Pker • 1950 • 113 00 e�IC UTILITY 0151 Annual MTD YTD Budget Less %of Prior Year Classification Budget Amount Actual Amount Actual Amount YTD Actual Budget Total Actual Fund Category Proprietary Funds Fund Type Enterprise Funds Net Gain(Loss) ($39,738,288.00) ($743,466.94) ($7,613,264.59) ($32,125,023.41) 19% $2,166,851.84 Fund Category Proprietary Funds Totals REVENUE TOTALS 58,795,362.00 3,405,744.89 40,111,169.64 18,684,192.36 68% 55,828,740.36 EXPENSE TOTALS 98,533,650.00 4,149,211.83 47,724,434.23 50,809,215.77 48% 53,661,888.52 Fund Category Proprietary Funds Net Gain(Loss) ($39,738,288.00) ($743,466.94) ($7,613,264.59) ($32,125,023.41) 19% $2,166,851.84 Grand Totals REVENUE TOTALS 58,795,362.00 3,405,744.89 40,111,169.64 18,684,192.36 68% 55,828,740.36 EXPENSE TOTALS 98,533,650.00 4,149,211.83 47,724,434.23 50,809,215.77 48% 53,661,888.52 Grand Total Net Gain(Loss) ($39,738,288.00) ($743,466.94) ($7,613,264.59) ($32,125,023.41) 19% $2,166,851.84 Run by Andrea Salazar on 05/26/2026 12:00:16 PM Page 3 of 3 �OVTH TA Ho Balance Sheet _ Through 03/31/26 s" Consolidated Summary Listing A(/ Pk'er • 1950 • Wa` G` C 6�iik C UTILITY 01-1 Current YTD Prior Year Classification Balance Total Actual Net Change Change% Fund Category Proprietary Funds Fund Type Enterprise Funds ASSETS Current Assets Cash and Cash Equivalents 16,701,812.72 19,744,242.36 (3,042,429.64) (15.41) Investments 540,306.00 963,373.74 (423,067.74) (43.92) Accounts Receivable 4,880,031.63 4,486,208.50 393,823.13 8.78 Current Lease Receivable 77,682.00 77,682.00 .00 .00 Due From Governmental Agencies 128,657.75 1,667,671.22 (1,539,013.47) (92.29) Property Tax Receivable .00 11,928,897.00 (11,928,897.00) (100.00) Interest Receivable 235,247.77 260,929.96 (25,682.19) (9.84) Other Current Assets 2,342,036.10 1,715,689.62 626,346.48 36.51 Current Assets Totals $24,905,773.97 $40,844,694.40 ($15,938,920.43) (39.02%) Noncurrent Assets Restricted Assets Cash and Cash Equivalents 25,804,856.27 28,599,394.92 (2,794,538.65) (9.77) Certificate of Deposit 165,000.00 165,000.00 .00 .00 Restricted Assets Totals $25,969,856.27 $28,764,394.92 ($2,794,538.65) (9.72%) Long-Term Accounts Receivable 766,875.70 1,246,333.24 (479,457.54) (38.47) Long Term Lease Receivable 1,577,159.44 1,577,159.44 .00 .00 Subscription Assets 472,336.00 472,336.00 .00 .00 Due From Other Governmental Agencies 146,040.00 146,040.00 .00 .00 Investments 27,251,056.94 27,046,767.71 204,289.23 .76 Capital Assets 224,519,915.43 229,176,650.41 (4,656,734.98) (2.03) Construction in Progress 31,237,137.04 31,237,137.03 .01 .00 Noncurrent Assets Totals $311,940,376.82 $319,666,818.75 ($7,726,441.93) (2.42%) Deferred Outflows of Resources Refunding Loan Costs 28,112.92 37,483.88 (9,370.96) (25.00) Changes in the Pension Liability 6,117,074.00 6,117,074.00 .00 .00 Deferred Outflows of Resources Totals $6,145,186.92 $6,154,557.88 ($9,370.96) (0.15%) ASSETS TOTALS $342,991,337.71 $366,666,071.03 ($23,674,733.32) (6.46%) LIABILITIES AND FUND EQUITY LIABILITIES Current Liabilities Accounts Payable and Other Liabilities 1,982,585.60 4,101,447.67 (2,118,862.07) (51.66) Unearned Revenue 19,005.00 17,337.00 1,668.00 9.62 Accrued Expenses (1,188,032.99) 1,360,859.20 (2,548,892.19) (187.30) Accrued Interest Payable (108,115.00) 1,145,799.53 (1,253,914.53) (109.44) Compensated Absences 1,329,773.43 1,574,007.03 (244,233.60) (15.52) Long Term Liabilities-Current Portion 3,596,857.27 3,596,857.27 .00 .00 Run by Andrea Salazar on 05/26/2026 12:02:20 PM Page 1 of 2 �OVTH TARO Balance Sheet _ Through 03/31/26 s" Consolidated Summary Listing A ewer I95o • Wa' �G.c ezIC UTILITY 0151 Current YTD Prior Year Classification Balance Total Actual Net Change Change% Fund Category Proprietary Funds Fund Type Enterprise Funds LIABILITIES AND FUND EQUITY LIABILITIES Current Liabilities Subscription Liabilities 233,795.00 233,795.00 .00 .00 Current Liabilities Totals $5,865,868.31 $12,030,102.70 ($6,164,234.39) (51.24%) Noncurrent Liabilities Compensated Absences-Long Term Portion 882,767.55 1,711,039.21 (828,271.66) (48.41) Long Term Liabilities-Long Term Portion 97,649,154.06 95,093,285.30 2,555,868.76 2.69 Subscription Liabilities 84,826.00 84,826.00 .00 .00 Net Pension Liability 15,902,470.00 15,935,462.00 (32,992.00) (.21) Noncurrent Liabilities Totals $114,519,217.61 $112,824,612.51 $1,694,605.10 1.50% Deferred Inflows of Resources Property Tax Receivable .00 11,928,897.00 (11,928,897.00) (100.00) Lease Receivable 1,548,664.20 1,548,664.20 .00 .00 Changes in Net Pension Liabilty 124,005.00 124,005.00 .00 .00 Deferred Inflows of Resources Totals $1,672,669.20 $13,601,566.20 ($11,928,897.00) (87.70%) LIABILITIES TOTALS $122,057,755.12 $138,456,281.41 ($16,398,526.29) (11.84%) FUND EQUITY Restricted for capital asset purchases 120,653,677.34 120,653,677.34 .00 .00 Unrestricted 107,556,112.28 107,556,112.28 .00 .00 FUND EQUITY TOTALS Prior to Current Year Changes $228,209,789.62 $228,209,789.62 $0.00 0.00% Prior Year Fund Equity Adjustment .00 .00 Fund Revenues (40,448,227.20) (55,828,740.36) Fund Expenses 47,724,434.23 53,661,888.52 FUND EQUITY TOTALS $220,933,582.59 $230,376,641.46 ($9,443,058.87) (4.10%) LIABILITIES AND FUND EQUITY $342,991,337.71 $368,832,922.87 ($25,841,585.16) (7.01%) Fund Type Enterprise Funds Totals $0.00 ($2,166,851.84) $2,166,851.84 100.00% Fund Category Proprietary Funds Totals $0.00 ($2,166,851.84) $2,166,851.84 100.00% Grand Totals $0.00 ($2,166,851.84) $2,166,851.84 100.00% Run by Andrea Salazar on 05/26/2026 12:02:20 PM Page 2 of 2 General Manager Paul Hughes Directors 44ex • 1950 • w$ South T Nick Haven Shane Romsos Joel Henderson_ Fublic Utility District Kelly Nick Exline _ I 1275 Meadow Crest Drive•South Lake Tahoe•CA 96150-7401 Phone 530 544-6474•Fax 530 541-0614•www.stpud.us BOARD AGENDA ITEM 4c TO: Board of Directors FROM: Greg Dupree, Accounting Manager MEETING DATE: June 4, 2026 ITEM- PROJECT NAME: Annual Adoption of Statement of Investment Policy REQUESTED BOARD ACTION: Adopt Resolution No. 3335-26, (superseding Resolution No. 3311-25) adopting the Statement of Investment Policy. DISCUSSION: The current Investment Policy was adopted June 5, 2025. The Policy requires annual review and adoption by the Board of Directors. The District Investment Advisor, PFM Asset Management LLC, has conducted a review of the Policy and has recommended changes as outlined in the attached PFM Memorandum. SCHEDULE: Upon Board Approval COSTS: N/A ACCOUNT NO: N/A BUDGETED AMOUNT AVAILABLE: N/A IDENTIFIED CAPITAL IMPROVEMENT PROJECT (CIP): ❑ Yes ❑ No N/A ATTACHMENTS: Resolution No. 3335-26, PFM Memorandum, and Statement of Investment Policy CONCURRENCE WITH REQUESTED ACTION: CATEGORY: Sewer/Water GENERAL MANAGER: YES r NO CHIEF FINANCIAL OFFICER: YES NO 1 RESOLUTION NO. 3335-26 2 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE 3 SOUTH TAHOE PUBLIC UTILITY DISTRICT ADOPTING A STATEMENT OF INVESTMENT POLICY AND 4 SUPERSEDING RESOLUTION NO. 3311-25 5 6 BE IT RESOLVED, by the Board of Directors of the South Tahoe Public Utility District, 7 County of El Dorado, State of California, as follows: 8 WHEREAS, the South Tahoe Public Utility District enters into various investments 9 from time to time on behalf of the District as permitted by the California Government 10 Code and the District's Investment Policy; and, 11 WHEREAS, the South Tahoe Public Utility District staff wish to update the 12 Statement of Investment Policy to enhance the South Tahoe Public Utility District's 13 opportunities for prudent and systematic investments, to delegate the Chief Financial 14 Officer as the investment officer of the District, and to update certain language 15 according to the California Government Code; and, 16 NOW, THEREFORE BE IT RESOLVED, by the Board of Directors of the South Tahoe 17 Public Utility District that; 18 The attached Statement of Investment Policy is hereby adopted and becomes a 19 part of this Resolution by reference herein. 20 WE, THE UNDERSIGNED, do hereby certify that the above and foregoing 21 Resolution was duly and regularly adopted and passed by the Board of Directors of the 22 South Tahoe Public Utility District at a regular meeting duly held on the 4th day of 23 June 2026, by the following vote: 24 AYES: 25 NOES: 26 ABSENT: 27 Shane Romsos, Board President 28 South Tahoe Public Utility District ATTEST: 29 30 Melonie Guttry, Clerk of the Board South Tahoe Public Utility District pfm 1 asset management May 13, 2026 Memorandum To: Andrea Salazar, Chief Financial Officer Greg Dupree, Accounting Manager South Tahoe Public Utility District From: Monique Spyke, Managing Director Allison Kaune, Relationship Manager PFM Asset Management RE: 2026 Investment Policy Review At your request, PFM Asset Management, a division of U.S. Bancorp Asset Management Inc. ("PFMAM"), reviewed South Tahoe Public Utility District's ("District") Investment Policy ("Policy"), as part of the District's annual review process. The Policy remains in compliance with the statutes of California Government Code (the "Code")that regulate the investment of public funds for local agencies. Effective, January 1, 2026, after the passage of Senate Bills ("SB") 827, 852, SB 595 and 858, several changes were made to California Government Code impacting or related to the investment of public funds. Below we summarize the Code changes, by Senate Bill, and subsequent Policy recommendations, as appropriate. We have also included a draft Policy to illustrate our suggested edits. SB 595 and 858 amended Code Section 53601, which governs the investment of public funds by local agencies, with the following updates. • The maximum maturity for eligible commercial paper was extended from 270 days to 397 days. The District may want to consider editing Policy Section VIII. Permitted Investments, paragraph H, to address this change. • In periods of low interest rates, law had authorized local agencies to invest in U.S. government securities that could result in zero-interest accrual if held to maturity until January 1, 2026. This provision was extended to January 1, 2031. To adopt this Code change, we recommend that the District edit the relevant sunset date in Policy section IX Prohibited Investments, as shown in the attached draft Policy. • Local agencies with at least $100 million in investment assets are permitted to invest a maximum of 40%of its money in commercial paper. This provision was set to expire and revert to a maximum of 25%on January 1, 2026, but was extended to PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc. NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE January 1, 2031. The District's Policy allows for a maximum of 25% in commercial paper and so no changes are necessary. SB 827 revised Code Section 53238 et seq and is intended to enhance training requirements for certain local agency officials, including additional fiscal and financial training. The District's Investment Policy does not address training requirements and so no changes are necessary to the Investment Policy. However, we recommend that you review the new training requirements. SB 852 is intended to strengthen transparency and ethics rules of the Political Reform Act by adding public officials who manage public investments to the list of individuals for whom the Fair Political Practices Commission ("Commission") is the filing officer for statements of economic interest and requires those officials to file using the Commission's electronic filing system. The District's Policy does not address those who qualify as a filing officer and no changes are necessary to the Investment Policy. However, we recommend that you review the changes to understand if any changes need to be made to the District's filing procedures. Please let us know if you have any questions or if you would like to set up a time to discuss our review. PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc. NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE 2 of 2 SOUTH TAHOE PUBLIC UTILITY DISTRICT STATEMENT OF INVESTMENT POLICY Statement of Intent This statement of investment policy is adopted to establish an overall policy and procedures for the management and investment South Tahoe Public Utility District's funds available for investment. This policy is effective as of its adoption by the Board of Directors. It will be reviewed by the Board and readopted at least once each year. II Scope of Policy This policy covers all funds and investment activities under the direct authority of the District. It does not cover funds related to funds held in a trust for retiree pension or medical benefits or District borrowing. The investments for debt issues are controlled by documents related to each debt issue. III Objectives The investment program shall be designed and managed with a degree of professionalism worthy of the public trust. The District's primary investment objectives, in order of priority, shall be: A Safety Safety of principal is the foremost objective of the District. Investments shall be made in a manner that first seeks to ensure the preservation of capital in the overall portfolio. And, second seeks to minimize capital losses, whether they be from securities defaults or erosion of market value. B Liquidity The investment portfolio shall be structured to provide sufficient liquidity to enable the District to meet its cash flow requirements. An adequate percentage of the portfolio should be maintained in liquid short-term securities, which can be converted to cash if necessary to meet disbursement requirements. Since all cash requirements cannot be anticipated,investments in securities with active secondary or retail markets are highly recommended. Emphasis is on marketable securities with low sensitivity to market risk. C Yield The investment program shall be designed with the objective of attaining a market rate of return on its investments consistent with the constraints imposed by its safety objective and cash flow considerations. Yield should become a consideration only after the basic requirements of safety and liquidity have been met. IV Prudence The District adheres to the guidance provided by the "prudent investor rule," which states that when investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds,a trustee shall act with care,skill,prudence,and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency,that a prudent person acting in a like P:\FIN\Policies\Investment Policy\Investment Policy 2026 capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims,to safeguard the principal and maintain the liquidity needs of the agency. Authorized individuals acting in accordance with this Policy and written procedures and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion. V Delegation of Authority The Board of Directors has delegated management responsibility for the investment program to the Chief Financial Officer, who is designated as the Investment Officer of the District. This delegation is for a one-year period. Subject to review,the Board may renew the delegation of authority each year. In the Chief Financial Officer's absence, the Accounting Manager shall act as the Investment Officer.The Chief Financial Officer shall develop and maintain administrative procedures for the operation of the investment program, consistent with this investment policy. All participants in the investment process shall act as custodians of the public trust. Investment officials shall recognize that the investment portfolio is subject to public review and evaluation. The overall program shall be designed and managed with a degree of professionalism that is worthy of the public trust. VI Internal Controls The Chief Financial Officer shall establish a system of internal controls,which shall be reviewed annually by the independent auditor. The controls shall be designed to prevent loss of public funds arising from fraud, error, misrepresentation, unanticipated market changes or imprudent actions. Controls deemed most important include: minimization of opportunities for collusion,separation of duties,separating transaction authority from accounting and record keeping, custodial safekeeping, avoidance of bearer-form securities, specific limitation regarding securities losses and remedial actions, written confirmation of all transactions, minimizing the number of authorized investment officials, documentation of transactions and strategies, and proper review and approval of brokerage accounts and investment transactions. VII Reporting The Investment Officer, or her designee, shall submit a monthly investment report to the Board of Directors. The monthly report shall be submitted within 45 days following the end of the month covered by the report. The monthly reports shall include all investments held by the District,and/or under the management of any outside party and shall include: a list of security transactions; the type of investment; issuer; date of maturity; par and dollar amount invested on all securities; current market value on all securities (including the source of this valuation); a statement that the portfolio is in compliance with this Policy or the manner in which it is not in compliance; and, a statement that the District has the ability to meet its expenditure requirements for the next 6 months or an explanation as to why sufficient money may not be available. P:\FIN\Policies\Investment Policy\Investment Policy 2026 VIII Permitted Investments Sections 53600 et. seq. of the California Government Code provide basic investment limits and guidelines for government entities. Within the investments permitted by the Government Code,the District seeks to further restrict eligible investments as provided below. In the event an apparent discrepancy is found between this Policy and the Government Code, the more restrictive parameters shall take precedence. The Investment Officer shall invest District moneys as directed by this Policy and only in the investments specifically authorized in this section. Where this Policy specifies a percentage limitation for a particular security type or issuer, that percentage is applicable at the time the security is purchased.Credit criteria listed in this section refers to the credit rating at the time the security is purchased. For purposes of compliance with this Policy,an investment's term or remaining maturity shall be measured from the settlement date to final maturity. A security purchased in accordance with this section shall not have a forward settlement date exceeding 45 days from time of investment. A U.S. Treasury Instruments United States Treasury notes,bonds,bills or certificates of indebtedness,or those for which the full faith and credit of the United States is pledged for payment of principal and interest. B Federal Agency and Instrumentality Securities Federal agency or United States government-sponsored enterprise obligations, participations,or other instruments,including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government- sponsored enterprises. The District should target a maximum allocation of 25% to callable Federal agency securities. C State of California Municipal Obligations Registered state warrants or treasury notes or bonds of this state,including bonds payable solely out of the revenues from a revenue-producing property owned, controlled,or operated by the state or by a department,board,agency,or authority of the state. Eligible investments shall be rated in a rating category of"A" for long-term, "A-1" for short-term, their equivalent, or better by one or more nationally recognized statistical-rating organization(NRSRO). D Other 49 States Municipal Obligations Registered treasury notes or bonds 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. Eligible investments shall be rated in a rating category of"A"for long-term, "A- 1"for short-term, their equivalent, or better by at least one NRSRO. E California Local Agency Municipal Obligations Bonds, notes, warrants, or other evidences of indebtedness of a local agency within this state, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by the local agency, P:\FIN\Policies\Investment Policy\Investment Policy 2026 or by a department, board, agency, or authority of the local agency. Eligible investments shall be rated in a rating category of"A" for long-term, "A-1" for short-term,their equivalent, or better by at least one NRSRO. F U.S. Corporate Debt Medium-term notes, defined as all corporate and depository institution securities with a maximum remaining maturity of five (5) years or less, issued by corporations organized and operating within the United States or depository institutions licensed by the United States or any state and operating within the United States. Eligible investments shall be rated in a rating category of"A" or the equivalent or better by at least one NRSRO. A maximum of 30% of the District's portfolio may be invested in this category. G Negotiable Certificates of Deposit Negotiable certificates of deposit(CDs) issued by a nationally or state-chartered bank or a state or federal association or by a federally- or state-licensed branch of a foreign bank. Eligible investments shall be rated in a rating category of"A" for long-term, "A-1" for short-term, their equivalent, or better by at least one NRSRO. A maximum of 30%of the District's portfolio may be invested in this category. H Commercial Paper Commercial paper of"prime" quality of the highest ranking or of the highest letter and number rating as provided for by a NRSRO. The entity that issues the commercial paper shall meet all of the following conditions in either paragraph (1) or paragraph(2): (1) The entity meets the following criteria: (i)Is organized and operating within the United States as a general corporation. (ii)Has total assets in excess of five hundred million dollars ($500,000,000). (iii) Has debt other than commercial paper,if any,that is rated in a rating category of"A"or higher,or the equivalent, by a NRSRO. (2) The entity meets the following criteria: (i) Is organized within the United States as a special purpose corporation, trust, or limited liability company. (ii) Has program wide credit enhancements including, but not limited to, over collateralization,letters of credit,or surety bond. (iii)Has commercial paper that is rated"A-1"or higher, or the equivalent,by a NRSRO. Eligible commercial paper shall have a maximum of 397 days or less. A maximum of 25% of the District's portfolio may be invested in this category. I Bank Deposits FDIC insured or fully collateralized demand deposit accounts, savings accounts, market rate accounts, time certificates of deposits in state or national banks located in California. As required by Government Code §53649, the District shall have a signed contract with each financial institution with the District's funds on deposit. Any financial institution accepting the District's funds for deposit must comply with the requirements of Government Code P:\FIN\Policies\Investment Policy\Investment Policy 2026 §53630 et seq., including collateralization of deposits. The District may waive the collateralization requirements for any portion of the deposit that is covered by Federal deposit insurance. To be eligible to receive District deposits, the financial institution must have received a minimum overall rating"satisfactory" in its most recent evaluation of its record of meeting the credit needs of California communities,as required by Government Code§53635 et. seq. A maximum of 20% of the District's portfolio may be invested in time certificates of deposit. J Bankers' Acceptances Bankers' acceptances which are otherwise known as bills of exchange or time drafts that are drawn on and accepted by a domestic commercial bank. Purchases are limited to issuers whose short-term debt is rated at least A-1/P-1. Bankers' acceptances cannot exceed a maturity of 180 days. A maximum of 40% of the District's portfolio may be invested in this category. K State of California's Local Agency Investment Fund (LAIF) If the District has funds invested in LAIF, the District shall maintain on file LAIF's current investment policy and its requirements for participation, including limitations on deposits and withdrawals. In addition, the District's shall review annually investment policies of LAIF to ascertain that its funds are invested in accordance with the District's investment objectives. Furthermore, the District shall review the provisions of these investment policies requiring internal controls on the investment process to ascertain that there is a division of responsibility in the investment procedures. L California Asset Management Trust A California common law trust established pursuant to Title 1, Division 7, Chapter 5 of the Government Code of the State of California. CAMP must be rated"AAAm"to be eligible for investment of District funds. M Money Market Funds Shares of beneficial interest issued by diversified management companies that are money market funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1 and following). The company shall have met either of the following criteria: (a) attained the highest ranking or the highest letter and numerical rating provided by not less than two nationally recognized statistical rating organizations and(b) retained an investment adviser registered or exempt from registration with the SEC with not less than five (5) years' experience managing money market mutual funds with assets under management in excess of five hundred million dollars ($500,000,000). A maximum of 20% of the District's portfolio may be invested in this category. N El Dorado County Pool The District shall review at least annually the El Dorado County investment pool to ascertain that its funds in these pools are invested in accordance with the District's investment objectives. The District shall also review the provisions of these investment policies requiring internal controls on the investment process to ascertain that there is a division of responsibility in the investment procedures. P:\FIN\Policies\Investment Policy\Investment Policy 2026 O Supranationals United States dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development (IBRD), International Finance Corporation (IFC), or Inter-American Development Bank (IADB), with a maximum remaining maturity of five years or less,and eligible for purchase and sale within the United States. Investments under this subdivision shall be rated in a rating category of"AA", its equivalent, or better by at least one NRSRO. Purchases of supranationals shall not exceed 30% of the investment portfolio of the District. P Asset—Backed Securities Mortgage passthrough securities, collateralized mortgage obligations,mortgage- backed or other pay-through bonds, equipment lease-backed certificates, consumer receivable passthrough certificates, or consumer receivable-backed bonds. For securities eligible for investment under this subdivision not issued or guaranteed by an agency or issuer identified in subdivision A or B of this Policy section,the following limitations shall apply: (1) The security shall be rated in a rating category of"AA" or its equivalent or better by at least one NRSRO and have a maximum remaining maturity of five years or less. (2) Purchase of securities authorized by this subdivision may not exceed 20% of the District's total portfolio. IX Prohibited Investments: Investments by the District in securities permitted by the California Government Code, but not specifically approved by this investment policy are prohibited without the prior approval of the Board. The District is prohibited from buying on margin or from speculative buying. Furthermore, the District is prohibited from investing in equity- linked securities or from entering into financial futures contracts, options, or swaps. However, the District may purchase U.S. government securities which are discount or securities bearing interest. In accordance with California Government Code §53601.6, the District shall not invest in inverse floaters, range notes, mortgage derived interest-only strips, or any security that could result in zero interest accrual if held to maturity. Notwithstanding the prohibition in the preceding paragraph, the District may invest in securities issued by, or backed by, the United States government that could result in zero-or negative-interest accrual if held to maturity,in the event of,and for the duration of, a period of negative market interest rates. The District may hold these instruments until their maturity dates. Purchase of this investment type shall be allowed only until January 1, 2031, and as of that date is repealed. X Term of Investments The term of any investment may not exceed five years without express authority from Board of Directors received at least 90 days preceding the investment purchase. P:\FIN\Policies\Investment Policy\Investment Policy 2026 XI Diversification The investment portfolio shall be diversified to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions. The portfolio shall also be diversified with respect to the term of individual investments purchased by the District. In addition to the percentage limitations specified in Section VIII Permitted Investments, the maximum amount of the portfolio the District may invest with any one issuer, regardless of sector, is 10%, excluding U.S. Treasuries, Federal Agencies, and pooled investments. XII Credit Rating Changes In the event a security held by the District is subject to a rating change that brings it below the minimum credit ratings specified in this Policy, the Investment Officer should disclose such information in the monthly investment report. XIII Safekeeping All cash and securities in the District's portfolio, including those that are being managed by the Investment Officer, shall be held in safekeeping in the District's name by a third party bank trust department, acting as agent for the District under the terms of a custody agreement executed by the bank and the District. All securities will be received and delivered using standard delivery versus payment (DVP) procedures, the District's safekeeping agent will only release payment for a security after the security has been properly delivered. The only exception to the foregoing shall be depository accounts and securities purchases made with: (i) local government investment pools; and, (ii) money market mutual funds, since the purchased securities are not deliverable. XIV Securities Dealers The District has authorized the Investment Advisor to use broker/dealers, which the Investment Advisor has selected in accordance with its written selection policy. The Investment Officer may also use broker/dealers meeting credit worthiness standards established by the Investment Officer. XV Ethics and Conflicts of Interest Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions. Such employees and investment officials shall disclose to the District Board and the General Manager any material financial interests in financial institutions that conduct business within the District, and they shall further disclose any large personal financial/investment positions that could be related to the performance of the District's portfolio. P:\FIN\Policies\Investment Policy\Investment Policy 2026 PAYMENT OF CLAIMS FOR APPROVAL June 4, 2026 Payroll 5/26/26 720,566.86 Total Payroll 720,566.86 Old Replic Title Co. 6,400.00 AFLAC/WageWorks claims and fees 94.00 Ameritas - Insurance Payments 9,120.25 CA EDD UI pmt 11,822.82 Total Vendor EFT 27,437.07 Weekly Approved Check Batches Water Sewer Total Thursday, May 21, 2026 400,427.12 241,832.32 642,259.44 Total Accounts Payable Checks 642,259.44 Grand Total $1,390,263.37 Payroll EFTs & Checks 5/26/2026 EFT CA Employment Taxes &W/H 35,884.84 EFT Federal Employment Taxes &W/H 158,933.45 EFT CaIPERS Contributions 104,810.70 EFT Empower Retirement-Deferred Comp 29,337.17 EFT Stationary Engineers Union Dues 3,303.56 EFT CDHP Health Savings (HSA) 6,622.39 EFT Employee Direct Deposits 376,867.90 CHK Employee Garnishments 177.69 CHK Employee Paychecks 4,629.16 Total 720,566.86 o�TH Ta"� s Payment of Claims F _ Payment Date Range 05/14/26 - 05/28/26 ,% Report By Vendor - Invoice A&az er . 1 950 • w��`0 Summary Listing C UTILITY 015 Invoice Number Invoice Description Status Held Reason Invoice Date Due Date G/L Date Received Date Payment Date Invoice Net Amount Vendor 44199-ACME CONSTRUCTION SUPPLY S4915358.002 Field,Shop&Safety Supplies Paid by EFT#6896 05/04/2026 05/21/2026 05/31/2026 05/21/2026 394.18 Inventory S4915358.003 Field,Shop&Safety Supplies Paid by EFT#6896 05/04/2026 05/21/2026 05/31/2026 05/21/2026 34.26 Inventory Vendor 44199-ACME CONSTRUCTION SUPPLY Totals Invoices 2 $428.44 Vendor 48605-AIRGAS USA LLC 9171686117 Field,Shop&Safety Supplies Paid by EFT#6897 05/04/2026 05/21/2026 05/31/2026 05/21/2026 556.57 Inventory 9171686121 Field,Shop&Safety Supplies Paid by EFT#6897 05/04/2026 05/21/2026 05/31/2026 05/21/2026 370.44 Inventory 9171776684 Field,Shop&Safety Supplies Paid by EFT#6897 05/06/2026 05/21/2026 05/31/2026 05/21/2026 274.57 Inventory Vendor 48605-AIRGAS USA LLC Totals Invoices 3 $1,201.58 Vendor 43949-ALPEN SIERRA COFFEE ROASTING CO R1032 Office Supply Issues Paid by EFT#6898 05/11/2026 05/21/2026 05/31/2026 05/21/2026 284.40 R1033 Office Supply Issues Paid by EFT#6898 05/11/2026 05/21/2026 05/31/2026 05/21/2026 75.75 Vendor 43949-ALPEN SIERRA COFFEE ROASTING CO Totals Invoices 2 $360.15 Vendor 49337-AMAZON CAPITAL SERVICES INC 1XG7-WWMC-CPQH Generators Paid by EFT#6899 05/07/2026 05/21/2026 05/31/2026 05/21/2026 76.42 1DT9-1XHC-6TKT Office Supplies Paid by EFT#6899 05/11/2026 05/21/2026 05/31/2026 05/21/2026 119.38 1MW4-MGQX-6LW1 Public Relations Expense Paid by EFT#6899 05/11/2026 05/21/2026 05/31/2026 05/21/2026 72.31 Vendor 49337-AMAZON CAPITAL SERVICES INC Totals Invoices 3 $268.11 Vendor 47919-AQUATIC INFORMATICS INC 117852 Service Contracts Paid by EFT#6900 05/12/2026 05/21/2026 05/31/2026 05/21/2026 136.00 Vendor 47919-AQUATIC INFORMATICS INC Totals Invoices 1 $136.00 Vendor 45202-AT&T MOBILITY 287306407514 426 Telephone Paid by EFT#6901 05/02/2026 05/21/2026 05/31/2026 05/21/2026 4,030.26 Vendor 45202-AT&T MOBILITY Totals Invoices 1 $4,030.26 Vendor 48000-AT&T/CALNET 3 000025182522 Telephone Paid by EFT#6902 05/01/2026 05/21/2026 05/31/2026 05/21/2026 31.91 000025182524 Telephone Paid by EFT#6902 05/01/2026 05/21/2026 05/31/2026 05/21/2026 31.91 000025187723 Telephone Paid by EFT#6902 05/01/2026 05/21/2026 05/31/2026 05/21/2026 1,747.23 000025205812 Telephone Paid by EFT#6902 05/07/2026 05/21/2026 05/31/2026 05/21/2026 32.31 000025205813 Telephone Paid by EFT#6902 05/07/2026 05/21/2026 05/31/2026 05/21/2026 32.31 000025205815 Telephone Paid by EFT#6902 05/07/2026 05/21/2026 05/31/2026 05/21/2026 39.74 Vendor 48000-AT&T/CALNET 3 Totals Invoices 6 $1,915.41 Vendor 49419-BEND GENETICS LLC ST2605 Monitoring Paid by EFT#6903 05/11/2026 05/21/2026 05/31/2026 05/21/2026 275.00 Vendor 49419-BEND GENETICS LLC Totals Invoices 1 $275.00 Vendor 48291-BEST BEST&KRIEGER LLP 1061267 Personnel Legal Paid by EFT#6904 05/11/2026 05/21/2026 05/31/2026 05/21/2026 855.80 1061268 Legal-Regular Paid by EFT#6904 05/11/2026 05/21/2026 05/31/2026 05/21/2026 2,917.50 Run by Erika Franco on 05/28/2026 12:23:35 PM Page 1 of 8 °NTH Ta"� e Payment of Claims F _ Payment Date Range 05/14/26 - 05/28/26 ,% Report By Vendor - Invoice A&az er . 1 950 • w��`0 Summary Listing C UTILITY 015 Invoice Number Invoice Description Status Held Reason Invoice Date Due Date G/L Date Received Date Payment Date Invoice Net Amount 1061269 Legal-Regular Paid by EFT#6904 05/11/2026 05/21/2026 05/31/2026 05/21/2026 855.80 Vendor 48291-BEST BEST&KRIEGER LLP Totals Invoices 3 $4,629.10 Vendor 48768- BOBCAT OF RENO INC P50753 Automotive Paid by EFT#6905 05/06/2026 05/21/2026 05/31/2026 05/21/2026 88.95 Vendor 48768-BOBCAT OF RENO INC Totals Invoices 1 $88.95 Vendor 50431- BREAKTHROUGH TRAINING 3899 Staff Development Paid by EFT#6906 04/30/2026 05/21/2026 05/31/2026 05/21/2026 3,500.00 Vendor 50431-BREAKTHROUGH TRAINING Totals Invoices 1 $3,500.00 Vendor 48767-CALIFORNIA LAB SERVICE 6041546 Monitoring Paid by EFT#6907 04/27/2026 05/21/2026 05/31/2026 05/21/2026 89.00 6050127 Monitoring Paid by EFT#6907 05/05/2026 05/21/2026 05/31/2026 05/21/2026 441.00 Vendor 48767-CALIFORNIA LAB SERVICE Totals Invoices 2 $530.00 Vendor 48406-CHARTER COMMUNICATIONS 176157701050126 Telephone Paid by EFT#6908 05/01/2026 05/21/2026 05/31/2026 05/21/2026 150.00 Vendor 48406-CHARTER COMMUNICATIONS Totals Invoices 1 $150.00 Vendor 48672-CINTAS CORP 5333840503 Safety Equipment-Physicals Paid by EFT#6909 05/04/2026 05/21/2026 05/31/2026 05/21/2026 1,504.31 Vendor 48672-CINTAS CORP Totals Invoices 1 $1,504.31 Vendor 12535-CITY OF SOUTH LAKE TAHOE AR206938 Pioneer Tr WL Impr. -Larch to Ski Paid by EFT#6910 04/06/2026 05/21/2026 05/31/2026 05/21/2026 310,887.04 Run Vendor 12535-CITY OF SOUTH LAKE TAHOE Totals Invoices 1 $310,887.04 Vendor 48037-CLEAN HARBORS ENVIR SRVS INC 1005964403 Service Contracts Paid by EFT#6911 04/20/2026 05/21/2026 05/31/2026 05/21/2026 1,977.08 Vendor 48037-CLEAN HARBORS ENVIR SRVS INC Totals Invoices 1 $1,977.08 Vendor 40512-CODALE ELECTRIC SUPPLY S009818699.002 Blower Motor Recondition Paid by EFT#6912 05/13/2026 05/21/2026 05/31/2026 05/21/2026 13,501.46 Vendor 40512-CODALE ELECTRIC SUPPLY Totals Invoices 1 $13,501.46 Vendor 49778-COLUMN SOFTWARE PBC B41A7C18-0057 Ads-Legal Notices Paid by EFT#6913 05/05/2026 05/21/2026 05/31/2026 05/21/2026 477.73 B41A7C18-0058 Ads-Legal Notices Paid by EFT#6913 05/05/2026 05/21/2026 05/31/2026 05/21/2026 421.37 Vendor 49778-COLUMN SOFTWARE PBC Totals Invoices 2 $899.10 Vendor 50181-MEGAN COLVEY PER DIEM 050426 Travel-Meetings- Education Paid by EFT#6914 04/29/2026 05/21/2026 05/31/2026 05/21/2026 194.00 Vendor 50181-MEGAN COLVEY Totals Invoices 1 $194.00 Vendor 50279-COONS CONSTRUCTION LLC C26-0694 Base,Spoils,and Hauling Paid by EFT#6915 04/30/2026 05/21/2026 05/31/2026 05/21/2026 7,828.79 Vendor 50279-COONS CONSTRUCTION LLC Totals Invoices 1 $7,828.79 Vendor 44779-CPI INTERNATIONAL 20073156 Laboratory Supplies Paid by EFT#6916 05/12/2026 05/21/2026 05/31/2026 05/21/2026 1,359.66 Vendor 44779-CPI INTERNATIONAL Totals Invoices 1 $1,359.66 Vendor 48281-CRYSTAL DAIRY FOODS Run by Erika Franco on 05/28/2026 12:23:35 PM Page 2 of 8 o�TH TAN() Payment of Claims F _ Payment Date Range 05/14/26 - 05/28/26 s" Report By Vendor - Invoice A&az er . 1 950 • w��`c, Summary Listing C UTILITY 015 Invoice Number Invoice Description Status Held Reason Invoice Date Due Date G/L Date Received Date Payment Date Invoice Net Amount 100379 Safety Equipment-Physicals Paid by EFT#6917 05/11/2026 05/21/2026 05/31/2026 05/21/2026 68.36 Vendor 48281-CRYSTAL DAIRY FOODS Totals Invoices 1 $68.36 Vendor 44739-CYBER SECURITY SOURCE 13087 District Computer Supplies Paid by EFT#6918 05/08/2026 05/21/2026 05/31/2026 05/21/2026 3,228.20 Vendor 44739-CYBER SECURITY SOURCE Totals Invoices 1 $3,228.20 Vendor 50523-NATALIYA DARAGAN 3115209 Water Use Reduction Rebates Paid by EFT#6919 05/15/2026 05/21/2026 05/31/2026 05/21/2026 171.50 Vendor 50523-NATALIYA DARAGAN Totals Invoices 1 $171.50 Vendor 49694-DIGITAL TECHNOLOGY SOLUTIONS INC 33702 Telephone Paid by EFT#6920 05/01/2026 05/21/2026 05/31/2026 05/21/2026 295.00 Vendor 49694-DIGITAL TECHNOLOGY SOLUTIONS INC Totals Invoices 1 $295.00 Vendor 43649-DOUGLAS DISPOSAL 510287 Refuse Disposal Paid by EFT#6921 05/01/2026 05/21/2026 05/31/2026 05/21/2026 23.20 Vendor 43649-DOUGLAS DISPOSAL Totals Invoices 1 $23.20 Vendor 44032- ENVIRONMENTAL EXPRESS 1000869161 Laboratory Supplies Paid by EFT#6922 05/06/2026 05/21/2026 05/31/2026 05/21/2026 2,169.37 Vendor 44032-ENVIRONMENTAL EXPRESS Totals Invoices 1 $2,169.37 Vendor 18550-EUROFINS EATON ANALYTICAL LLC 3800127238 Monitoring Paid by EFT#6923 05/14/2026 05/21/2026 05/31/2026 05/21/2026 37.13 3800127244 Monitoring Paid by EFT#6923 05/14/2026 05/21/2026 05/31/2026 05/21/2026 233.42 3800127245 Monitoring Paid by EFT#6923 05/14/2026 05/21/2026 05/31/2026 05/21/2026 21.22 3800127253 Monitoring Paid by EFT#6923 05/14/2026 05/21/2026 05/31/2026 05/21/2026 111.39 3800127259 Monitoring Paid by EFT#6923 05/14/2026 05/21/2026 05/31/2026 05/21/2026 51.50 3800127260 Monitoring Paid by EFT#6923 05/14/2026 05/21/2026 05/31/2026 05/21/2026 21.22 Vendor 18550-EUROFINS EATON ANALYTICAL LLC Totals Invoices 6 $475.88 Vendor 14890-FEDEX 9-288-89647 Postage Expenses Paid by EFT#6924 05/08/2026 05/21/2026 05/31/2026 05/21/2026 150.28 Vendor 14890-FEDEX Totals Invoices 1 $150.28 Vendor 50521-ROSS FELICIANO 3345210 Water Use Reduction Rebates Paid by EFT#6925 05/13/2026 05/21/2026 05/31/2026 05/21/2026 750.00 Vendor 50521-ROSS FELICIANO Totals Invoices 1 $750.00 Vendor 48288- FRONTIER COMMUNICATIONS 5306942753 526 Telephone Paid by EFT#6926 05/01/2026 05/21/2026 05/31/2026 05/21/2026 1,008.28 Vendor 48288-FRONTIER COMMUNICATIONS Totals Invoices 1 $1,008.28 Vendor 50500- DANIEL GAUL MILEAGE 051426 Travel-Meetings- Education Paid by EFT#6927 05/14/2026 05/21/2026 05/31/2026 05/21/2026 82.65 Vendor 50500-DANIEL GAUL Totals Invoices 1 $82.65 Vendor 15600-GRAINGER 9900599987 Pump Stations Paid by EFT#6928 05/01/2026 05/21/2026 05/31/2026 05/21/2026 1,027.07 9903300953 Pump Stations Paid by EFT#6928 05/04/2026 05/21/2026 05/31/2026 05/21/2026 1,140.24 9905590320 Shop Supplies Paid by EFT#6928 05/05/2026 05/21/2026 05/31/2026 05/21/2026 412.38 9906675880 Pump Stations Paid by EFT#6928 05/06/2026 05/21/2026 05/31/2026 05/21/2026 1,060.42 Run by Erika Franco on 05/28/2026 12:23:35 PM Page 3 of 8 yDUTH Taho F Payment of Claims _ _ Payment Date Range 05/14/26 - 05/28/26 se~ �e, Report By Vendor - Invoice Summary Listing A`B ker 1950 W `iC UTILITY DOI Invoice Number Invoice Description Status Held Reason Invoice Date Due Date G/L Date Received Date Payment Date Invoice Net Amount 9906675898 Pump Stations Paid by EFT#6928 05/06/2026 05/21/2026 05/31/2026 05/21/2026 124.95 9912180180 Grounds&Maintenance Paid by EFT#6928 05/11/2026 05/21/2026 05/31/2026 05/21/2026 352.24 Vendor 15600-GRAINGER Totals Invoices 6 $4,117.30 Vendor 50024-JONES MAYER 141945 Legal Services April 2026 Paid by EFT#6929 04/30/2026 05/27/2026 04/30/2026 05/21/2026 4,616.20 Vendor 50024-JONES MAYER Totals Invoices 1 $4,616.20 Vendor 40821-KENNEDY JENKS CONSULTANTS INC 186304 Contractual Services Paid by EFT#6930 02/26/2026 05/21/2026 05/31/2026 05/21/2026 2,281.50 Vendor 40821- KENNEDY JENKS CONSULTANTS INC Totals Invoices 1 $2,281.50 Vendor 43694-KIMBALL MIDWEST 104429327 Shop Supplies Paid by EFT#6931 05/01/2026 05/21/2026 05/31/2026 05/21/2026 237.51 104452125 Shop Supplies Paid by EFT#6931 05/11/2026 05/21/2026 05/31/2026 05/21/2026 (237.51) 104452143 Shop Supplies Paid by EFT#6931 05/11/2026 05/21/2026 05/31/2026 05/21/2026 240.83 Vendor 43694-KIMBALL MIDWEST Totals Invoices 3 $240.83 Vendor 50371-KRLT-FM 26040009 Public Relations Expense Paid by EFT#6932 04/30/2026 05/21/2026 05/31/2026 05/21/2026 600.00 Vendor 50371- KRLT-FM Totals Invoices 1 $600.00 Vendor 49725-LAKESIDE TERMITE&PEST CONTROL 013771409 Buildings Paid by EFT#6933 05/08/2026 05/21/2026 05/31/2026 05/21/2026 150.00 Vendor 49725-LAKESIDE TERMITE&PEST CONTROL Totals Invoices 1 $150.00 Vendor 22200-LANGENFELD ACE HARDWARE Apr 26 Stmt Buildings&Shop Supplies Paid by EFT#6934 04/30/2026 05/21/2026 05/31/2026 05/21/2026 194.27 Vendor 22200- LANGENFELD ACE HARDWARE Totals Invoices 1 $194.27 Vendor 22550- LIBERTY UTILITIES 200008899961 426 Electricity Paid by Check#115397 04/30/2026 05/21/2026 05/31/2026 05/21/2026 84.62 200008904324 426 Electricity Paid by Check#115397 04/30/2026 05/21/2026 05/31/2026 05/21/2026 8,689.15 200008904969 426 Electricity Paid by Check#115397 04/30/2026 05/21/2026 05/31/2026 05/21/2026 3,156.93 200008919678 426 Electricity Paid by Check#115397 04/30/2026 05/21/2026 05/31/2026 05/21/2026 185.44 200008919769 426 Electricity Paid by Check#115397 04/30/2026 05/21/2026 05/31/2026 05/21/2026 863.91 200008928133 426 Electricity Paid by Check#115397 04/30/2026 05/21/2026 05/31/2026 05/21/2026 2,322.14 200008932309 426 Electricity Paid by Check#115397 04/30/2026 05/21/2026 05/31/2026 05/21/2026 .54 200008899565 426 Electricity Paid by Check#115396 05/01/2026 05/21/2026 05/31/2026 05/21/2026 66.32 200008904613 426 Electricity Paid by Check#115397 05/01/2026 05/21/2026 05/31/2026 05/21/2026 214.20 200008909455 426 Electricity Paid by Check#115397 05/01/2026 05/21/2026 05/31/2026 05/21/2026 35.76 200008909570 426 Electricity Paid by Check#115397 05/01/2026 05/21/2026 05/31/2026 05/21/2026 1,376.00 200008909679 426 Electricity Paid by Check#115397 05/01/2026 05/21/2026 05/31/2026 05/21/2026 35.76 200008919819 426 Electricity Paid by Check#115397 05/01/2026 05/21/2026 05/31/2026 05/21/2026 1,752.54 200008923928 426 Electricity Paid by Check#115397 05/01/2026 05/21/2026 05/31/2026 05/21/2026 13.28 200008932028 426 Electricity Paid by Check#115397 05/01/2026 05/21/2026 05/31/2026 05/21/2026 523.50 200008895548 426 Electricity Paid by Check#115396 05/04/2026 05/21/2026 05/31/2026 05/21/2026 31.01 200008909356 426 Electricity Paid by Check#115397 05/04/2026 05/21/2026 05/31/2026 05/21/2026 167.17 200008909778 426 Electricity Paid by Check#115397 05/04/2026 05/21/2026 05/31/2026 05/21/2026 1,967.40 Run by Erika Franco on 05/28/2026 12:23:35 PM Page 4 of 8 o�TH Ta"� s Payment of Claims F _ Payment Date Range 05/14/26 - 05/28/26 ,% Report By Vendor - Invoice A&az er . 1950 • w..100 Summary Listing C UTILITY pI8 Invoice Number Invoice Description Status Held Reason Invoice Date Due Date G/L Date Received Date Payment Date Invoice Net Amount 200008928224 426 Electricity Paid by Check#115397 05/04/2026 05/21/2026 05/31/2026 05/21/2026 112.20 200008928497 426 Electricity Paid by Check#115396 05/04/2026 05/21/2026 05/31/2026 05/21/2026 638.86 200008913515 426 Electricity Paid by Check#115397 05/05/2026 05/21/2026 05/31/2026 05/21/2026 3,433.88 200008913796 426 Electricity Paid by Check#115396 05/06/2026 05/21/2026 05/31/2026 05/21/2026 105.27 Vendor 22550-LIBERTY UTILITIES Totals Invoices 22 $25,775.88 Vendor 49065-LIFE TECHNOLOGIES CORPORATION 88993533 Laboratory Supplies Paid by EFT#6935 05/07/2026 05/21/2026 05/31/2026 05/21/2026 107.22 89000933 Laboratory Supplies Paid by EFT#6935 05/08/2026 05/21/2026 05/31/2026 05/21/2026 333.56 Vendor 49065-LIFE TECHNOLOGIES CORPORATION Totals Invoices 2 $440.78 Vendor 17900- MCMASTER CARR SUPPLY CO 64200409 Primary Equipment Paid by EFT#6936 04/30/2026 05/21/2026 05/31/2026 05/21/2026 206.83 Vendor 17900-MCMASTER CARR SUPPLY CO Totals Invoices 1 $206.83 Vendor 18150- MEEKS LUMBER&HARDWARE Apr 26 Stmt Buildings&Shop Supplies Paid by EFT#6937 04/30/2026 05/21/2026 05/31/2026 05/21/2026 2,475.35 Vendor 18150-MEEKS LUMBER&HARDWARE Totals Invoices 1 $2,475.35 Vendor 50346-MISCOwater 66208652685 Bio Scrubber Chem. Pumps Paid by EFT#6938 05/05/2026 05/21/2026 05/31/2026 05/21/2026 11,547.83 Vendor 50346- MISCOwater Totals Invoices 1 $11,547.83 Vendor 50372-N&S TRACTOR IP02510 Automotive Paid by EFT#6939 04/27/2026 05/21/2026 05/31/2026 05/21/2026 348.23 IP02631 Automotive Paid by EFT#6939 05/12/2026 05/21/2026 05/31/2026 05/21/2026 55.79 Vendor 50372-N&S TRACTOR Totals Invoices 2 $404.02 Vendor 50511-PACIFIC COATINGS LLC 1045 Water Reuse Diamond Ditch Paid by EFT#6940 05/11/2026 05/21/2026 05/31/2026 05/21/2026 74,700.00 Rehab Vendor 50511-PACIFIC COATINGS LLC Totals Invoices 1 $74,700.00 Vendor 48300-PIPETTE.COM 2026/03171 Laboratory Supplies Paid by EFT#6941 04/27/2026 05/21/2026 05/31/2026 05/21/2026 48.83 Vendor 48300-PIPETTE.COM Totals Invoices 1 $48.83 Vendor 48443-QUALITY CONTROL SERVICES INC QCS-57977 Laboratory Equipment Paid by EFT#6942 04/30/2026 05/21/2026 05/31/2026 05/21/2026 1,679.00 Vendor 48443-QUALITY CONTROL SERVICES INC Totals Invoices 1 $1,679.00 Vendor 43332-RED WING SHOE STORE 812ST1-3675313 Safety Equipment-Physicals Paid by EFT#6943 02/13/2026 05/21/2026 05/31/2026 05/21/2026 (303.40) 812ST1-4317695 Safety Equipment-Physicals Paid by EFT#6943 04/06/2026 05/21/2026 05/31/2026 05/21/2026 288.72 812ST1-4720697 Safety Equipment-Physicals Paid by EFT#6943 05/11/2026 05/21/2026 05/31/2026 05/21/2026 308.29 Vendor 43332-RED WING SHOE STORE Totals Invoices 3 $293.61 Vendor 43552-SHERWIN-WILLIAMS 18324219320526 Buildings Paid by EFT#6944 05/07/2026 05/21/2026 05/31/2026 05/21/2026 18.19 43025131640526 Buildings Paid by EFT#6944 05/07/2026 05/21/2026 05/31/2026 05/21/2026 107.10 44296131640526 Buildings Paid by EFT#6944 05/12/2026 05/21/2026 05/31/2026 05/21/2026 49.64 44882131640526 Buildings Paid by EFT#6944 05/14/2026 05/21/2026 05/31/2026 05/21/2026 10.10 Run by Erika Franco on 05/28/2026 12:23:35 PM Page 5 of 8 eu Ta"� Payment of Claims _ Payment Date Range 05/14/26 - 05/28/26 syy ec Report By Vendor - Invoice A /e W •��`0 Ge4 r . 1 950 � Summary Listing C UTILITY 015 Invoice Number Invoice Description Status Held Reason Invoice Date Due Date G/L Date Received Date Payment Date Invoice Net Amount Vendor 43552-SHERWIN-WILLIAMS Totals Invoices 4 $185.03 Vendor 47832-SHRED-IT 8014094440 Office Supply Issues Paid by EFT#6945 04/25/2026 05/21/2026 05/31/2026 05/21/2026 67.00 Vendor 47832-SHRED-IT Totals Invoices 1 $67.00 Vendor 48622-SIERRA ECOTONE SOLUTIONS LLC 1250 RAS Building Rehab Paid by EFT#6946 05/07/2026 05/21/2026 05/31/2026 05/21/2026 46,216.55 Vendor 48622-SIERRA ECOTONE SOLUTIONS LLC Totals Invoices 1 $46,216.55 Vendor 48628-SOUTH LAKE TAHOE ACE HARDWARE 076253 Buildings Paid by EFT#6947 05/12/2026 05/21/2026 05/31/2026 05/21/2026 16.30 Vendor 48628-SOUTH LAKE TAHOE ACE HARDWARE Totals Invoices 1 $16.30 Vendor 23450-SOUTH TAHOE REFUSE 517682 Refuse Disposal Paid by EFT#6948 05/01/2026 05/21/2026 05/31/2026 05/21/2026 1,058.40 Vendor 23450-SOUTH TAHOE REFUSE Totals Invoices 1 $1,058.40 Vendor 45168-SOUTHWEST GAS 910000040369 426 Natural Gas Paid by EFT#6949 05/06/2026 05/21/2026 05/31/2026 05/21/2026 270.57 910000041349 426 Natural Gas Paid by EFT#6949 05/06/2026 05/21/2026 05/31/2026 05/21/2026 12.38 Vendor 45168-SOUTHWEST GAS Totals Invoices 2 $282.95 Vendor 50040-TAHOE FLEET SERVICE 3258 Automotive Paid by EFT#6950 04/25/2026 05/21/2026 05/31/2026 05/21/2026 1,094.15 Vendor 50040-TAHOE FLEET SERVICE Totals Invoices 1 $1,094.15 Vendor 44519-UNITED RENTALS INC 260224963-001 Small Tools Paid by EFT#6951 05/01/2026 05/21/2026 05/31/2026 05/21/2026 4,160.78 Vendor 44519-UNITED RENTALS INC Totals Invoices 1 $4,160.78 Vendor 47973-US BANK CORPORATE ABBONDANDOL00426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 (2,413.32) ARCE0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 218.33 ASCHENBACH0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 461.65 BARTLETTB0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 321.95 BARTLETTC0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 1,345.78 COLE0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 1,784.22 COLVEY0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 109.84 COMBESO426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 1,293.02 COOLIDGE0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 119.00 DEVINE0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 656.71 FRANC00426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 668.85 GOLIGOSKI0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 2,702.40 GREGORICH0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 617.79 GUTTRY0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 957.79 HENDRICKSON0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 422.50 KAUFFMAN0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 2,675.99 KELLY0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 247.95 LEE0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 1,510.92 Run by Erika Franco on 05/28/2026 12:23:35 PM Page 6 of 8 o�TH TAN() Payment of Claims F _ Payment Date Range 05/14/26 - 05/28/26 s" Report By Vendor - Invoice A&az ew er . 1 950 • w��`0 Summary Listing C UTILITY 015 Invoice Number Invoice Description Status Held Reason Invoice Date Due Date G/L Date Received Date Payment Date Invoice Net Amount NELSON0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 103.99 RUTHERDALE0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 2,783.87 SALAZAR0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 215.13 SCHRAUBEN0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 2,943.80 SEELOSO426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 2,243.81 SHERIDAN0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 59.95 SKELLY0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 2,476.90 STANLEY0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 242.93 THOMSEN0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 2,728.21 TRELLA0426 Apr 26 Stms Paid by EFT#6952 04/22/2026 05/20/2026 04/30/2026 05/21/2026 1,508.29 Vendor 47973-US BANK CORPORATE Totals Invoices 28 $29,008.25 Vendor 21116-USA TODAY MEDIA CORP 0007629814 Ads-Legal Notices Paid by EFT#6953 03/31/2026 05/21/2026 05/31/2026 05/21/2026 1,449.48 0007675559 Ads-Legal Notices Paid by EFT#6953 04/30/2026 05/21/2026 05/31/2026 05/21/2026 402.60 Vendor 21116-USA TODAY MEDIA CORP Totals Invoices 2 $1,852.08 Vendor 49947-CUST#593278 USABLUEBOOK INV01039292 Shop Supplies Paid by EFT#6954 05/06/2026 05/21/2026 05/31/2026 05/21/2026 780.74 Vendor 49947-CUST#593278 USABLUEBOOK Totals Invoices 1 $780.74 Vendor 50508-VALLEY AGRONOMICS LLC 290002742 Alfalfa Field Rehabilitation Paid by EFT#6955 04/15/2026 05/21/2026 05/31/2026 05/21/2026 2,688.75 290002849 Alfalfa Field Rehabilitation Paid by EFT#6955 04/29/2026 05/21/2026 05/31/2026 05/21/2026 2,716.88 290002850 Alfalfa Field Rehabilitation Paid by EFT#6955 04/29/2026 05/21/2026 05/31/2026 05/21/2026 2,877.75 290002851 Alfalfa Field Rehabilitation Paid by EFT#6955 04/29/2026 05/21/2026 05/31/2026 05/21/2026 2,655.00 290002877 Alfalfa Field Rehabilitation Paid by EFT#6955 04/29/2026 05/21/2026 05/31/2026 05/21/2026 2,124.00 Vendor 50508-VALLEY AGRONOMICS LLC Totals Invoices 5 $13,062.38 Vendor 45243-VELOCITY VEHICLE GROUP XA261177697:01 Automotive Paid by EFT#6956 04/28/2026 05/21/2026 05/31/2026 05/21/2026 868.51 Vendor 45243-VELOCITY VEHICLE GROUP Totals Invoices 1 $868.51 Vendor 44580-VESTIS SERVICES LLC 5980367299 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 72.39 5980367300 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 46.42 5980367301 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 49.83 5980367302 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 5.45 5980367303 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 13.50 5980367304 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 15.14 5980367305 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 111.13 5980367306 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 54.25 5980367307 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 30.80 5980367308 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 4.35 5980367309 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 63.33 5980367310 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 99.13 5980367311 Uniform Payable Paid by EFT#6957 04/01/2026 05/21/2026 05/31/2026 05/21/2026 114.02 Run by Erika Franco on 05/28/2026 12:23:35 PM Page 7 of 8 yCUTH Taho F Payment of Claims A._ _ Payment Date Range 05/14/26 - 05/28/26 se~ "�e� Report By Vendor - Invoice Summary Listing ` A`B ker 1950 W 'C UTILITY 1:01 Invoice Number Invoice Description Status Held Reason Invoice Date Due Date G/L Date Received Date Payment Date Invoice Net Amount 5980368805 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 72.39 5980368806 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 46.42 5980368807 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 53.13 5980368808 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 5.45 5980368809 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 13.50 5980368810 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 15.14 5980368811 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 108.04 5980368812 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 54.25 5980368813 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 31.48 5980368814 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 4.35 5980368815 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 63.33 5980368816 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 99.13 5980368817 Uniform Payable Paid by EFT#6957 04/08/2026 05/21/2026 05/31/2026 05/21/2026 114.02 5980376338 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 77.07 5980376339 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 47.44 5980376340 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 53.13 5980376341 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 5.45 5980376342 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 13.50 5980376343 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 15.14 5980376344 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 121.03 5980376345 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 54.25 5980376346 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 32.57 5980376347 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 4.35 5980376349 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 98.07 5980376350 Uniform Payable Paid by EFT#6957 05/13/2026 05/21/2026 05/31/2026 05/21/2026 114.02 Vendor 44580-VESTIS SERVICES LLC Totals Invoices 38 $1,996.39 Vendor 49098-MATT WEISER SWRCB Ti 2026 Dues-Memberships- Paid by EFT#6958 05/13/2026 05/21/2026 05/31/2026 05/21/2026 70.00 Certification Vendor 49098-MATT WEISER Totals Invoices 1 $70.00 Vendor 50471-WSP USA INC 40318502 Contractual Services Paid by EFT#6959 01/19/2026 05/21/2026 05/31/2026 05/21/2026 17,028.06 40338411 Contractual Services Paid by EFT#6959 03/24/2026 05/21/2026 05/31/2026 05/21/2026 29,845.64 Vendor 50471-WSP USA INC Totals Invoices 2 $46,873.70 Vendor 50392-ZORO INV18961157 Small Tools Paid by EFT#6960 05/05/2026 05/21/2026 05/31/2026 05/21/2026 181.06 INV18989512 Wells Paid by EFT#6960 05/08/2026 05/21/2026 05/31/2026 05/21/2026 625.78 Vendor 50392-ZORO Totals Invoices 2 $806.84 Grand Totals Invoices 193 $642,259.44 Run by Erika Franco on 05/28/2026 12:23:35 PM Page 8 of 8 E UTH TakoF e° OK 1950 W�`P‘'C UTILITY DOSS SOUTH TAHOE PUBLIC UTILITY DISTRICT Joel Henderson, Director BOARD MEMBERS Kelly Sheehan, Director Nick Haven, Vice President Shane Romsos, President Nick Exline, Director Paul Hughes, General Manager Andrea Salazar, Chief Financial Officer REGULAR MEETING OF THE BOARD OF DIRECTORS SOUTH TAHOE PUBLIC UTILITY DISTRICT May 21, 2026 MINUTES The South Tahoe Public Utility District Board of Directors met in a regular session, 2:00 p.m., at the District Office, located at 1275 Meadow Crest Drive, South Lake Tahoe, California. ROLL CALL: Board of Directors: President Romsos, Directors Haven, Sheehan, and Exline Absent: Director Henderson Staff: Paul Hughes, Andrea Salazar, Ryan Jones, Melonie Guttry, Shannon Chandler, Robert Wakefield, Megan Colvey, Shelly Thomsen, Vincent Stagnaro, Alex Tyler, Sara Nelson, Diana Cervantes, Ryan Lee, Greg Dupree, Chris Skelly, Brent Goligoski, Lucas Russell, Chris Skelly, Star Glaze, Adrian Cornbes, Brian Bartlett, Donielle Morse, Laura Hendrickson, Matt Stevens 1. PLEDGE OF ALLEGIANCE: 2. COMMENTS FROM THE PUBLIC: None 3. CORRECTIONS TO THE AGENDA OR CONSENT CALENDAR: None 4. ADOPTION OF CONSENT CALENDAR: Moved Sheehan/Second Haven/Haven Yes/Romsos Yes/Henderson Absent/Sheehan Yes/Exline Yes to approve the Consent Calendar as presented. a. ISSUANCE OF SPECIAL USE PERMIT FOR WOLLYSTAR MUSIC FESTIVAL SECONDARY EMERGENCY EGRESS ROUTE (Chris Stanley, Manager of Field Operations) Approved the issuance of a Special Use Permit to Avery Hellman to allow attendees of the Woollystar Music Festival to use an existing unimproved road across a portion of Diamond Valley Ranch in the event of an emergency. b. RECEIVE AND FILE PAYMENT OF CLAIMS (Greg Dupree,Accounting Manager) Received and filed Payment of Claims in the amount of $2,947,295.63. REGULAR BOARD MEETING MINUTES: May 21, 2026 PAGE-2 c. REGULAR BOARD MEETING MINUTES: May 7, 2026 (Melonie Guttry, Executive Services Manager/Clerk of the Board) Approved May 7, 2026, Minutes. 5. CONSENT ITEMS BROUGHT FORWARD FOR SEPARATE DISCUSSION/ACTION: None 6. PRESENTATION: Megan Colvey, Adrian Combes and Andrea Salazar provided a presentation regarding District infrastructure and long-term fiscal sustainability and addressed questions from the Board. Shelly Thomsen provided details regarding the proposed rate increase outreach and response. Director Haven added that he appreciates Customer Service staff who are speaking with customers every day. He further expressed appreciation for the Capital Improvement Program website update and ease of information available there. The District's Proposition 218 process allowed for a maximum 9.5% increase, which has been backed down to 6.5%, due to the efforts the District is making such as efficiencies, the solar project, etc. Director Exline added that the comments received from the community have been low. President Romsos thanked staff for their efforts on the outreach in all areas including this presentation today. Andrea Salazar reminded the Board that the District does have a customer assistance program and Ryan Lee reported on progress with the program. There hasn't been a huge uptick in enrollment, but there were a few that came out of the District Tours that took place May 20, 2026. There are currently 501 rate payers enrolled in Tier 1, offering a 25% discount; and 18 are enrolled in Tier 2, which started in 2024, and offers a 15% discount. Director Sheehan thanked Customer Service for their efforts with customers. Paul Hughes reported that the total response to date is one tenth of one percent of the District's total customer base. 7. ITEMS FOR BOARD ACTION: a. 2026 Water Meter Installation Project (Laura Hendrickson,Associate Engineer) Laura Hendrickson provided details regarding the 2026 Water Meter Installation Project and addressed questions from the Board. Moved Sheehan/Second Haven/Haven Yes/Romsos Yes/Henderson Absent/Sheehan Yes/Exline Yes to (1) Adopt the design Plans, Specifications, and Addenda pursuant to California Government Code Section 830.6; (2) Find minor irregularities in the bid from White Rock Construction, Inc. to be immaterial and waive immaterial irregularities; and (3) Award Contract for the 2026 Water Meter Installation Project to the lowest responsive, responsible bidder, White Rock Construction, Inc., in the amount of $916,350. b. Tahoe Keys Sanitary Sewer Rehabilitation Project (Brendan Cusick,Senior Engineer and Brent Goligoski, Engineering Manager-Capital Projects) — Brent Goligoski provided details regarding the Tahoe Keys Sanitary Sewer Rehabilitation Project and addressed questions from the Board. Moved Sheehan/Second Romsos/Haven Yes/Romsos Yes/Henderson Absent/Sheehan Yes/Exline Yes to (1) Adopt Addendum No. 1 to the design Plans and Specifications pursuant to California Government Code Section 830.6; (2) Find minor irregularities in the bid from Express Sewer & Drain, Inc. to be immaterial and waive immaterial irregularities; and (3) Award Contract for the 2026 Tahoe Keys Sanitary Sewer Rehabilitation Project to the lowest responsive, responsible bidder, Express Sewer & Drain, Inc., in the amount of $1,139,450. REGULAR BOARD MEETING MINUTES: May 21, 2026 PAGE-3 c. Tahoe Keys Sanitary Sewer Rehabilitation Project (Brendan Cusick,Senior Engineer and Brent Goligoski, Engineering Manager-capital Projects) - Brent Goligoski provided details regarding the Tahoe Keys Sanitary Sewer Rehabilitation Project and addressed questions from the Board. Moved Sheehan/Second Haven/Haven Yes/Romsos Yes/Henderson Absent/Sheehan Yes/Exline Yes to (1) Approve the proposed Scope of Work to amend existing Task Order No. 3 for DOWL to provide engineering services during construction and construction inspection services of the Tahoe Keys Sanitary Sewer Rehabilitation Project; and (2) Authorize the General Manager to execute Amendment A to Task Order No. 3 with DOWL in the amount not to exceed $146,062. d. Glenwood Rancho, Lake Tahoe Boulevard and Tahoe Mountain Waterline Project (Andrea Salazar, Chief Financial Officer) -Andrea Salazar provided details regarding the Glenwood Rancho, Lake Tahoe Boulevard and Tahoe Mountain Waterline Project and Megan Colvey addressed questions from the Board. Moved Sheehan/Second Exline/Haven Yes/Romsos Yes/Henderson Absent/Sheehan Yes/Exline Yes to approve Resolution No. 3330-26, the Installment Sale Agreement Resolution of the Board of Directors of the South Tahoe Public Utility District for the Glenwood Rancho, Lake Tahoe Boulevard and Tahoe Mountain Waterline Project e. Return Activated Sludge Pump Station Replacement Project (Andrea Salazar, Chief Financial Officer) - Andrea Salazar provided details regarding the Return Activated Sludge Pump Station Replacement Project and addressed questions from the Board. Megan Colvey provided further details regarding the project. Moved Exline/Second Haven/Haven Yes/Romsos Yes/Henderson Absent/Sheehan Yes/Exline Yes to approve Resolution No. 3331-26, the Installment Sale Agreement Resolution of the Board of Directors of the South Tahoe Public Utility District for the Return Activated Sludge Pump Station Replacement Project. 8. STANDING AND AD-HOC COMMITTEES AND LIAISON REPORTS: Director Exline reported that he met with District and City staff to review Liberty Energy and future collaboration to reduce rates. The work the City has done is certainly more than anticipated. Director Haven requested that if these discussions reach any milestones, that a presentation be brought forward to the full Board. Director Sheehan provided details of the May 12, 2026, Operations Committee Meeting that she and Director Henderson attended. Director Haven provided details regarding the El Dorado Water Agency (EDWA). District staff have been working as the Groundwater Sustainability Agency and EDWA is reserving funds to cover one half of the costs of reporting these efforts while re-evaluating the District's role in Sustainable Groundwater Management Act. He thanked Mark Seelos regarding his efforts on this collaboration. 9. BOARD MEMBER REPORTS: Nothing to report 10. STAFF/ATTORNEY REPORTS: Megan Colvey introduced Lucas Russell, new Staff Engineer. He has spent the last four years working for West Yost Associates and is happy to be at the District. Adrian Combes introduced Matt Stevens, new Heavy Maintenance Supervisor, who joined the District approximately five years ago. He reported he is excited for his new role and looks forward to working with the Board. REGULAR BOARD MEETING MINUTES: May 21, 2026 PAGE-4 Robert Wakefield provided information regarding how Artificial Intelligence may affect Public Records Requests and will report back as more information becomes available. 11. GENERAL MANAGER REPORT: Paul Hughes reported that his retirement plans are a little earlier than expected, with a target date of February 2027. The second week in June the Board may want to discuss the recruitment timeline moving forward. 12. NOTICE OF PAST AND FUTURE MEETINGS/EVENTS 13. BREAK AND ADJOURN TO CLOSED SESSION: 3:14 p.m. RECONVENE TO OPEN SESSION: 3:50 p.m. a. Pursuant to Section 54956.8 of the California Government Code, Closed Session may be held for conference with real property negotiators prior to the purchase, sale, exchange, or lease of real property by or for the local agency. The negotiating parties are Paul Hughes, General Manager, Ryan Jones, General Counsel; Tech Ventures QOZB, LLC, owner of the subject property located at 930 Tanglewood Drive, South Lake Tahoe, California; and Radley Raven of The Oppenheim Group Real Estate, the owner's agent. Under negotiation are the price and terms of payment. No reportable Board Action b. Pursuant to Section 54956.8 of the California Government Code, Closed Session may be held for conference with real property negotiators prior to the purchase, sale, exchange, or lease of real property by or for any local agency. The negotiating parties are Paul Hughes, General Manager; Ryan Jones, General Counsel; Mano and Lata Murthy, owners of the subject property located at 885 Sunset Drive, South Lake Tahoe, California; and Doug Rosner, the owner's agent. Under negotiation are the price and terms of payment. No reportable Board Action c. Pursuant to Section 54956.9(d)(1) of the California Government code, Closed Session may be held for conference with legal counsel regarding existing litigation: Yolo County Superior Court Case CV 2021-1686, Alpine County vs. South Tahoe Public Utility District; et al. No reportable Board Action ADJOURNMENT: 3:51 p.m. Shane Romsos, Board President South Tahoe Public Utility District Melonie Guttry, Executive Services Manager/ Board Clerk South Tahoe Public Utility District General Manager Paul Hughes Directors 44ex • 1950 • w$ te Nick Haven _ ou th ShaneRomsos Joel Henderson Sheehan Fublic Utility District Kelly Nick Exline 1275 Meadow Crest Drive•South Lake Tahoe•CA 96150-7401 Phone 530 544-6474•Fax 530 541-0614•www.stpud.us BOARD AGENDA ITEM 6a TO: Board of Directors FROM: Andrea Salazar, Chief Financial Officer MEETING DATE: June 4, 2026 ITEM- PROJECT NAME: Fiscal Year 2026/2027 Water and Sewer Service Charge Rates REQUESTED BOARD ACTION: Approve Resolution No. 3332-26 confirming the water and sewer service charge rate increases of 6.5% and 6.5% for Fiscal Year 2026/2027. DISCUSSION: On May 16, 2024, the Board of Directors passed Ordinance No. 589-24 which included five-year rate schedules for both water and sewer service charge rates with potential increases up to 9.5%. The Ordinance adopted the rates for Fiscal Year 2024/2025 but requires confirmation by Resolution from the Board before the rates for years 2025/2026, 2026/2027, 2027/2028 and 2028/2029 are effective. The rate increases were developed through a cost-of-service study prepared by HDR Engineering to continue funding the long-term infrastructure needs of the District. The District issued the required Proposition 218 Notice to its customers and included the five- year rate schedules. During the April 29, 2026 Budget Workshop, the Board directed staff to incorporate a proposed 6.5%water and sewer rate increase into the proposed 2026/2027 budget as opposed to the Prop 218 maximum rate of 9.5%. Resolution 3332-26 confirms the rates for 2026/2027; water increase of 6.5% and sewer increase of 6.5%. The approximate fiscal impact to a typical residential customer is $9.38 The proposed 2026/2027 budget has been developed with these rate increases and is scheduled for adoption immediately following Board action on this Agenda Item. If Resolution 3332-26 is not adopted as prepared, the budget will need to be adopted with Board direction for staff to adjust the proposed revenues and expenditures accordingly. Andrea Salazar June 4, 2026 Page 2 SCHEDULE: Rate changes effective July 1, 2026 COSTS: N/A ACCOUNT NO: N/A BUDGETED AMOUNT AVAILABLE: N/A IDENTIFIED CAPITAL IMPROVEMENT PROJECT (CIP): ❑ Yes ❑ No N/A ATTACHMENTS: Resolution No. 3332-26, Service Charge Rates CONCURRENCE WITH REQUESTED ACTION: CATEGORY: Sewer/Water GENERAL MANAGER: YES / f NO Al CHIEF FINANCIAL OFFICER: YES NO FY 2026- 27 Finance Overview S OUTH TANOF 144 June 4, 2026 Board Meeting AGe`'C UTILITY ots", Rate Assu m ion t s ••• FY 2026-27 Needs Based CIP 2026-27 % Increase $ Increase/mth ❖ Water - $19.9M ••• Sewer - $8.3M Water CIP 6.50% $5.14 "Needs Based" ❖ Adopting rates less than assumed will require reductions to the CIP's. Sewer CIP 6.50% $4.24 "Needs Based" ••• When possible, the District utilizes the State Revolving Fund Program to complete sewer and water projects. This program offers subsidized interest rates that are typically lower than the General tax- exempt market. Current Basin Rate Comparison $300 $250 $200 $206 $215 $208 $154 $162 $100 - - 34.2% 39.8% r 5.1% 62.8% j 35.4% $0 - STPUD INCLINE VILLAGE NORTH TAHOE KINGSBURY TCPUD AVERAGE PUD Projected Water Expenditures $45 . 2M • $3,584 , 7.9% P Capital Projects Salaries & Benefits O&M $7,425 , 16.4% I Debt Service \_ $23,166 , 51.2% $11,076 , 24.5% Projected Sewer Expenditures $44 . 1M $4,817 , 10.9% $12,031 , 27.3% F Capital Projects Salaries & Benefits $11,109 , 25.2% O&M Debt Service $16,159 , 36.6% Questions and Comments ••? 1 RESOLUTION NO. 3332-26 2 A RESOLUTION OF THE BOARD OF DIRECTORS 3 OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT 4 CONFIRMING THE WATER AND SEWER SERVICE CHARGE RATES FOR FISCAL YEAR 2026/27 5 6 7 WHEREAS, on May 16, 2024, the Board of Directors of the South Tahoe 8 Public Utility District held a public hearing on proposed changes in rates and 9 charges which were issued with a Proposition 218 notice that was mailed to all 10 District account holders; and 11 WHEREAS, on May 16, 2024, the Board of Directors of the South Tahoe 12 Public Utility District approved Ordinance 589-24, adopting a five-year water 13 service charge rate schedule and a five-year sewer service charge rate 14 schedule; and 15 16 WHEREAS, Ordinance 589-24 requires the District's Board of Director's 17 confirmation of the water and sewer service charge rates in Fiscal Years 18 2025/26, 2026/27, 2027/28 and 2028/29; and 19 WHEREAS, on May 29, 2026, the Board of Directors of the South Tahoe 20 Public Utility District held a public meeting and directed District staff to develop 21 the proposed budget for fiscal year 2026/27 with a proposed water service 22 charge rate increase of 6.5% and a sewer service charge rate increase of 6.5% 23 to fund the 2026/27 capital improvement plan and operating budget of the 24 Water and Sewer Enterprise Funds. 25 NOW, THEREFORE BE IT RESOLVED, by the Board of Directors of the South 26 Tahoe Public Utility District that the water and sewer service charge rates for the 27 Fiscal Year 2026/27 included in the attached Water and Sewer Rate Schedules 28 are confirmed, effective July 1, 2026. 29 WE THE UNDERSIGNED, do hereby certify that the above and foregoing 30 Resolution was duly and regularly adopted and passed by the Board of 1 Directors of the South Tahoe Public Utility District at a regular meeting duly held 2 on the 4h day of June 2026, by the following vote: 3 4 AYES: 5 NOES: 6 ABSENT: 7 8 Shane Romsos, Board President 9 South Tahoe Public Utility District 10 ATTEST: 11 12 13 Melonie Guttry, Executive Services Manager/ Clerk of the Board 14 South Tahoe Public Utility District 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Page 2 30 June 4, 2026 Resolution No. 3332-26 General Manager Paul Hughes Directors 44ex • 1950 • w$ te South T Nick Haven Shane Romsos Joel Henderson Sheehan Fublic Utility District Kelly Nick Exline 1275 Meadow Crest Drive•South Lake Tahoe•CA 96150-7401 Phone 530 544-6474•Fax 530 541-0614•www.stpud.us BOARD AGENDA ITEM 6b TO: Board of Directors FROM: Andrea Salazar, Chief Financial Officer MEETING DATE: June 4, 2026 ITEM- PROJECT NAME: Fiscal Year 2026/2027 Water Enterprise Fund Budget REQUESTED BOARD ACTION: Adopt Resolution No. 3333-26 for the Fiscal Year 2026/2027 Water Enterprise Fund Budget and authorize staff to incorporate any adjustments or changes necessary because of Board action. DISCUSSION: The Fiscal Year 2026/2027 Water Fund proposed budget in the amount of $45,251,122 is fully funded and includes a 6.5% increase in service charge rates. The budget includes $23,166,000 (51.2%) for capital projects, $3,584,000 (7.9%) for debt service, $7,424,745 (16.4%) for operations and maintenance, and $1 1,076,377 (24.5%) for salaries and benefits. If prior Board action is taken to adopt a service charge rate increase of less than 6.5% staff are seeking as part of the requested Board Action, approval to adjust the budget and Resolution 3333-26 accordingly. SCHEDULE: Budget must be adopted by July 1, 2026 COSTS: $45,251,122 ACCOUNT NO: Various BUDGETED AMOUNT AVAILABLE: N/A IDENTIFIED CAPITAL IMPROVEMENT PROJECT (CIP): ❑ Yes ❑ No N/A ATTACHMENTS: Resolution No. 3333-26, Water Fund Budget Summary CONCURRENCE WITH REQUESTED ACTION: CATEGORY: Water %r GENERAL MANAGER: YES NO CHIEF FINANCIAL OFFICER: YES i\ NO 1 RESOLUTION NO. 3333-26 2 A RESOLUTION OF THE BOARD OF DIRECTORS 3 OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT 4 ADOPTING THE BUDGET FOR THE WATER ENTERPRISE FUND FOR FISCAL YEAR 2026/27 5 6 7 WHEREAS, on May 29, 2026, the Board of Directors of the South Tahoe Public 8 Utility District held a public meeting and directed District staff to develop the proposed budget for fiscal year 2026/7 with a proposed water service rate increase of 6.5% to 9 fund the 2026/27 water improvement plan and operating budget of the Water 10 Enterprise Fund. 11 NOW, THEREFORE BE IT RESOLVED, by the Board of Directors of the South Tahoe 12 Public Utility District that: 13 The attached budget in the amount of $45,251,122 is adopted for the Fiscal Year 14 beginning July 1, 2026, and ending June 30, 2027. 15 WE THE UNDERSIGNED, do hereby certify that the above and foregoing 16 Resolution No. 3333-26 was duly and regularly adopted and passed by the Board of 17 Directors of the South Tahoe Public Utility District at a regular meeting duly held on the 18 4th day of June 2026, by the following vote: 19 AYES: 20 NOES: 21 ABSENT: 22 23 Shane Romsos, Board President 24 South Tahoe Public Utility District 25 ATTEST: 26 27 Melonie Guttry, Clerk of the Board 28 South Tahoe Public Utility District 29 30 General Manager Paul Hughes Directors 44ex • 1950 • w$ te South T Nick Haven Shane Romsos Joel Henderson Sheehan Fublic Utility District Kelly Nick Exline 1275 Meadow Crest Drive•South Lake Tahoe•CA 96150-7401 Phone 530 544-6474•Fax 530 541-0614•www.stpud.us BOARD AGENDA ITEM 6c TO: Board of Directors FROM: Andrea Salazar, Chief Financial Officer MEETING DATE: June 4, 2026 ITEM- PROJECT NAME: Fiscal Year 2026/2027 Sewer Enterprise Fund Budget REQUESTED BOARD ACTION: Adopt Resolution No. 3334-26 for the Fiscal Year 2026/27 Sewer Enterprise Fund Budget and authorize staff to incorporate any adjustments or changes necessary because of Board action. DISCUSSION: The Fiscal Year 2026/2027 Sewer Fund proposed budget in the amount of $44,116,044 is fully funded and includes a 6.5% increase in service charge rates. The budget includes $12,031,400 (27.3%) for capital projects, $4,817,000 (10.9%) for debt service, $11,108,583 (25.2%) for operations and maintenance, and $16,159,061 (36.6%) for salaries and benefits. If prior Board action is taken to adopt a service charge rate increase of less than 6.5% staff are seeking as part of the requested Board Action, approval to adjust the budget and Resolution 3334-26 accordingly. SCHEDULE: Budget must be adopted by July 1, 2026 COSTS: $44,116,044 ACCOUNT NO: Various BUDGETED AMOUNT AVAILABLE: N/A IDENTIFIED CAPITAL IMPROVEMENT PROJECT (CIP): ❑ Yes ❑ No N/A ATTACHMENTS: Resolution No. 3334-26, Sewer Fund Budget Summary CONCURRENCE WITH REQUESTED ACTION: CATEGORY: Sewer % r GENERAL MANAGER: YES NO CHIEF FINANCIAL OFFICER: YES A NO 1 RESOLUTION NO. 3334-26 2 A RESOLUTION OF THE BOARD OF DIRECTORS 3 OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT 4 ADOPTING THE BUDGET FOR THE SEWER ENTERPRISE FUND FOR FISCAL YEAR 2026/27 5 6 7 WHEREAS, on May 29, 2026, the Board of Directors of the South Tahoe Public Utility District held a public meeting and directed District staff to develop the proposed 8 budget for fiscal year 2026/27 with a proposed sewer service charge rate increase of 9 6.5% to fund the 2026/27 sewer improvement plan and operating budget of the Sewer 10 Enterprise Fund. 11 NOW, THEREFORE BE IT RESOLVED, by the Board of Directors of the South Tahoe 12 Public Utility District that: 13 The attached budget in the amount of $44,1 16,044 is adopted for the Fiscal Year 14 beginning July 1, 2026, and ending June 30, 2027. 15 WE THE UNDERSIGNED, do hereby certify that the above and foregoing 16 Resolution No. 3334-26 was duly and regularly adopted and passed by the Board of 17 Directors of the South Tahoe Public Utility District at a regular meeting duly held on the 4th day of June 2026, by the following vote: 18 19 AYES: 20 NOES: 21 ABSENT: 22 23 Shane Romsos, Board President 24 South Tahoe Public Utility District 25 ATTEST: 26 27 28 Melonie Guttry, Clerk of the Board South Tahoe Public Utility District 29 30 General Manager Paul Hughes Directors 44ex • 1950 • w$ te _ South T Nick Haven Shane Romsos Joel Henderson _ _ y Sheehan Fublic Utility District KellNick Exline _ I 1275 Meadow Crest Drive•South Lake Tahoe•CA 96150-7401 Phone 530 544-6474•Fax 530 541-0614•www.stpud.us BOARD AGENDA ITEM 12a TO: Board of Directors FROM: Paul Hughes, General Manager MEETING DATE: June 4, 2026 ITEM- PROJECT NAME: Conference with Legal Counsel - Existing Litigation REQUESTED BOARD ACTION: Direct Staff DISCUSSION: Pursuant to Section 54956.9(d)(1) of the California Government code, Closed Session may be held for conference with legal counsel regarding existing litigation: Yolo County Superior Court Case CV 2021-1686, Alpine County vs. South Tahoe Public Utility District; et al. SCHEDULE: N/A COSTS: N/A ACCOUNT NO: N/A BUDGETED AMOUNT AVAILABLE: N/A IDENTIFIED CAPITAL IMPROVEMENT PROJECT (CIP): ❑ Yes ❑ No N/A ATTACHMENTS: N/A CONCURRENCE WITH REQUESTED ACTION: CATEGORY: General GENERAL MANAGER: YES NO /�q CHIEF FINANCIAL OFFICER: YES A NO