tv BOS Youth Young Adult and Families Committee SFGTV September 10, 2021 10:00am-3:01pm PDT
. >> chairman: welcome. the meeting will come to order. this september 10th regularly scheduled meeting of the youth, young adults, and families committee. i am chair member supervisor melgar and clerk, do you have any announcements? >> clerk: yes, madam chair. the board recognizes that public access to city services is essential and invite public participation in the following ways. public comment will be available on each item of this agenda and sfgov.org are streaming the public call-in number across the screen. each speaker will be allowed two minutes to speak.
comments or opportunities to speak will be available by calling (415) 655-0001. the meeting i.d. is 24831119790. again, that's 24831119790, then pound and pound again. when connected, you will hear the meeting discussions and be in listening mode only. please dial star 3 to be added to the speaker line. best practices are to call from a quiet line and turn down your listening device. e-mail myself,
brentjulipa@brentjulipa@sfgov. org. finally, items acted on today are expected to appear on the board of supervisor its agenda. that includes my announcement, madam chair. >> chairman: thank you so much and can you please read item number one. >> clerk: yes, madam chair. item number one is administrative code consultation regarding the filing of juvenile drink wednesdayy cases on california child wellware under code section 651 and provide the davment the opportunity to commence proceedings in the juvenile drink wednesdayy court in the san francisco superior
court. members of the public should call (415) 655-0001 and the meeting id is 24831119790. press pound and pound again. >> chairman: i am happy to state that all parties came together and we have come to an agreement. and so i will be offering the following amendments that we all agree is the right system to developing san francisco and i'll just briefly read it. the police department that
present to the san francisco district attorney all juvenile delinquency cases which occurred in san francisco where sfpd is the sole agency. commencing proceedings in juvenile placency court. the designee shall wave the protection of the public. the importance address victims and the interest of the minor. if the d.a. or d.a.'s designee declines to file in san francisco superior court, sfpd may present the case in another jurisdiction consistent with welfare institution code section 651. i really want to thank everyone
who's been involved in this effort and in coming to this very specific language to make extremely clear what primarily we already do in san francisco particularly i want to thank police chief william scott, his policy director, anna olivera roche. i want to thank our district attorney, jacob o'dean and from my office who have worked hard on this and thens, finally juvenile probation chief katie miller. thank you everyone for working so hard to make sure we have the best policy here in san francisco. and, with that, i want to ask my colleagues if they have any comments before we open this item up for public comment. >> supervisor ronen, if i may
say? >> i'm here. i don't have any comments. >> supervisor ronen: we have our staff attorney ann pierson. >> thank you, supervisor ronen. my office had a chance to review into the record last night and we made some small tweaks to approval as to reform. she circulated a very small draft to your aid this morning. i don't think the one you read into the record is the one she sent to him. again, the changes are very minor. >> supervisor ronen: would you mind reading the changes? do you have them in front of you? >> i do. the sfpd shall first present. all juvenile delinquency cases where, one, all the allege criminal acts occurred within
the city and county of san francisco. two, the san francisco police department is the lead or sole investigative agency and, three, california welfare institutions code section 651 current commence proceedings in the juvenile delinquency court in san francisco superior court or any other county. i believe that's. >> supervisor ronen: okay. fantastic. >> i'm happy to send it out as you hear public comment, but i wanted to make sure that if it's this version that the board is taking action on that. >> supervisor ronen: fantastic. thank you so much for that. with that, can we please open this item up for public comment? >> clerk: yes, madam chair. we have aracelly frias.
please press star 3 to be added to the queue and you will hear the system prompt for those of you in line to speak. please wait until the system indicates you have been unmuted. ms. frias. >> there are no callers in the queue at this time. >> supervisor ronen: thank you so much. public comment is closed. first, i'd like to make a motion to amend the item as stated by myself and city attorney anne pierson. can we take a roll call on that vote. >> clerk: yes. on the motion as the amendments moved by supervisor ronen and stated by deputy attorney anne pierson. [roll call]
we have three ayes. >> supervisor ronen: thank you. and i'd like to make a motion to send the item to committee with positive recommendation. please do a roll call vote. >> clerk: on the motion with the full board with positive recommendation as amended, [roll call] >> supervisor ronen: thank you for being here. mr. clerk, can you please read item number two. >> clerk: yes, item number two is to the extent permitted by state law when the member is not able to attend in person due to pregnancy, child birth or a related condition and may authorize members to participate by teleconferencing
to the extent permitted by state law when the member is absent to tare for the member's child after the birth of a child or after placement of a child for adoption or parental care for other boards and city commissions to participate in public meetings by teleconferencing under the same conditions. members of the public should call (415) 655-0001. the meeting id is 24831119790 and pound twice if you have not already done so. please dial star 3 to line up to speak. the system prompt will indicate you have raised your hand. that is your queue to begin your comments. madam chair. >> chairman: thank you so much. thank you, again, supervisor melgar for bringing this forward. the floor is yours.
>> supervisor melgar: thank you so much, chair ronen for hearing this item again and your cosponsorship along with supervisor chan, stefanie and safai. as a recap, this legislation will authorize the board of supervisors to set our own parental leave and it will establish a citywide parental lead policy for all city commissions and bodies. members will now be able to take formal parental leave for 16 weeks without fear of discrimination or fear of having to relinquish their seat. they will also be allowed an extension a total of 36 weeks if members are recovering from child pregnancy or another related health condition.
to align with the state policy so they would be fully excused from the meetings and, if members want to attend some or all the meetings remotely, it also sets a policy for teleconferencing option. so it's a little bit ahead which is what the charter amendment allowed. however, it is still subject to the state brown act, and, as you know, we're working on that as well with our state legislators. we are taking an extraordinary opportunity to change the culture practices in our city and our society in this legislation will push us in the right direction. and, i would be remiss if i didn't acknowledge that it has taken 14 years to pass this with former supervisor mckayla
pierre having to navigate as a city legislator going through pregnancy. it was unprecedented and she had to go to the voters with the charter amendment to allow the ability in the event they had, you know, they were physically unable to do it because of pregnancy or child birth. so at that time, no border commission has ever formally adopted a parent lead policy. so i want to thank supervisor for having the courage and foresight to take that monumental step for us. to allow for teleconferencing for members who are physically unable to attend during physical or mental leave when the brown act was written, there was none of these things that now make it easier for all of us to communicate.
we remain hopeful that this update will pass next year. if the brown act is updated and our legislation is place this will allow a teleconference during the leave if they choose regardless of the state of emergency. so we are also working on a possible charter amendment next year to update the language to provide the most flexibility for people who need to take medical or parental lead and to address the need for teleconferencing in certain circumstances. as we experience in this pandemic and despite the difficulties of silver linings to having new tools of communication. so i am want to thank all the parents and care givers who've had to stay home with kids and also participate in civic life and work and i want to thank the commission on the status of women and her former staff elizabeth newman for all her
support and feedback on this. also, our city attorneys ann pierson, job gibner and tom owen. and, you know, mostly the unpaid volunteers who now sit on our board commissions and do the work of the city. and, lastly, i want to thank various individuals and parent am leave experts who've reached out to our office to weigh in on this and provide really good feedback. some of it we've incorporated is and some of it we can't because of the current charter. for instance, adoption and surrender ga sea wasn't a thing it is today particularly for
gay so that after we do that, we can come back and do more to this file. i hope we can send this out with a strong, positive recommendation. thank you. >> chairman: thank you so much. gosh, this is overdue and i can't thank you enough for prioritizing this and updating our laws to modern times. thank you so much. supervisor safai, is there anything you wanted to add? >> supervisor safai: yeah, i just want to appreciate the experience and perspective that supervisor melgar is bringing to the table. having been a former commissioner herself and former legislative aide, i think she has brought that personal experience as a mother, as a care giver, as a daughter to the table and i think it's something that we should be
proud of here in san francisco. she mentioned the other supervisors that came before her that were doing this type of work and how long it's taken, but this is something that's really monumental for our city and it's important and i think over the past year that we all have dealt with covid, we saw how we were negotiating and working with the city to ensure people have the appropriate time off even for that, even in a pandemic. it was a bit of a struggle at times and ultimately, i think we were able to land in the right place to give people the appropriate time off. so this is really monumental, i want to thank supervisor melgar for mitting the ground running on this issue and getting it down and bringing it across the finish line. so many care givers and so many people, particularly the burden that falls on women in our society. this is so important. thank you for your amazing
work. >> chairman: supervisor melgar. >> supervisor melgar: i just would be remiss. i forgot to thank one person, and that is jenn lowe on my staff who is a mother to a young child and has really championed all issues around child care and parental leave. she put in so much work in this and i just wanted to mention her because she's amazing. thank you. >> chairman: mr. clerk, can we now open up this item to public comment. >> clerk: yes, madam chair. please let us know if there are any callers that are ready. for those who already called in and wish to speak on this ordinance, please dial star 3 to be added to the queue. you will hear the system prompt to raise your hand and confirm you are in line to speak. for those already on hold please wait until the system indicates you have been unmuted and i will start your two minutes for comments. >> yes, we have one caller.
i'll put them through. >> clerk: thank you. >> can you hear me now? >> chairman: yes. >> great. good morning. david pillpell. welcome back from recess and happy new year where appropriate. this does flow from a mckayla elliott o'pier charter many years ago that the board of supervisors have not implemented until now. i would ask if particularly since you just duplicated the file if the sunshine ordinance taskforce has reviewed this and if not you could send a referral to them and they would take up some of theism indications. i'm particularly concerned about the implications for quorum and public access to meetings. i note that for noncovid
teleconference meetings under the brown act that there are specific requirements for the locations where teleconference meetings can occur and what access the public has at those locations. i have no particular issue with the proposed leap policy. i think that's fine, that's entirely up to you. i am concerned about these other implications for quorum and for public access. when teleconferencing in my view bodies, policy bodies should be required to post documents in real time such as presentations, written comments and amendments that may be circulated. the board of supervisors has legistar and the clerks are well versed in that. and the clerks are great by the
way, but not all policy bodies operate in the same way and so certain boards and commissions will have presentations or discuss amendments, circulate them among the members, but the public has no access to them during the meeting. that's been a problem during covid and that would be a problem in my view with noncovid teleconference meetings authorized. >> clerk: that's your time. >> under this ordinance. >> clerk: thank you, mr. pillpell. >> chairman: further public comments? >> there are no more public commentors in the queue. >> chairman: did you want to make a motion, supervisor melgar? >> supervisor melgar: i did want to make a motion, i also wanted to address if i could mr. pillpell's comment because
nothing in this legislation creates new impediments to sharing information with the public. i think the difference is there was a time when the teleconferencing meant a land line and we didn't have the ability to share the power point presentations online i would request that they also update the way we community today also to equitably provide access of representation and participation for women and care givers. and, also, we have expectations of communication and documents
being shared. that has nothing to do with it. so i ask that we do that as well. so, thank you, and i'd like to make a motion that we, you know, send with the positive committee recommendation. >> chairman: great. and, then, for the duplicated file, did you want to continue that file to the call of the chair? >> supervisor melgar: yes, ma'am. thank you. >> chairman: i don't know, mr. clerk, if we can take a vote. if we need to take separately the votes. >> clerk: let's see. the duplicated file i don't think needs a vote. let's see, the member does have the privilege to request for it to be duplicated and it will stay in committee. so just a motion to forward. >> chairman: great. >> clerk: on the motion by member melgar, [roll call]
>> clerk: we have three ayes. >> chairman: thank you, mr. clerk. please read item number three. >> clerk: yes, item number three is the hearing preliminary recommendations of the sf rise working group to youth and families adversely affected by covid-19 school closures and distancing plan programs. how members of the public who wish to pry public comment should call (415) 655-0001 i.d.
number 24831119790. the system prompt will indicate you have raised your hand and the system will indicate you have been unmuted and you may begin your comments. madam chair. >> chairman: it's great to be here and started the day around such great news in helping safety in our schools in san francisco. pretty much all across the city, public, private, we're doing so safely according to the data and now the question is how are we going to address learning loss that occurred last year and do everything we can to increase enrollment in our public schools and supervisor melgar and i created
rides and the rides working group, sf rise working group in order to put a plan together and to do just that to make our public schools even better to provide any necessary wrap around services before or after school services, tutoring, really whatever our students and their families need in order to be successful in our public schools. and, today, after incredibly hard work by the sf rise working group with the support of dcyf and i want to call out specifically [inaudible] who has been facilitating that group. it is a group made up of experts across the field in
education, pediatric health, in community schools models. we have representatives from the teacher's union, educator's union. representatives from the school board. we have representatives from the district. we have parents represented and i have attended not to participate, but to learn and to watch many of the working group meetings and they are fascinating and interesting and i want to thank from the bottom of my heart all of the participants for giving so much of their time and energy to this process and i want to thank all of the departments from city to school districts. the school board, the educator's union and the nonprofits who are there participating in this effort and i'm very excited to hear the preliminary recommendations today. and, before we turn this over
to our presenters, i just wanted to give my co-conspirator in this effort,co-author in this work supervisor melgar to say anything she'd like. >> supervisor melgar: thank you so much, chair. i just want to second all the people you just thanked and also the kids for putting up with all of this, you know, with patience and, you know, humor in many ways. but, also, you know, i just wanted to acknowledge how tough it's been for them and that we are doing what we can to collaborate with each other across bodies that don't plan jointly and i'm so grad this is happening and i'm incredibly grateful to the sf rise working group and their hard work and thoughtfulness of putting this
together. i also wanted to remind us in 2014, we passed the charter amendment that was called, our children, our families counsel for all of the different departments to work together to support kids across our city and, you know, i just wanted to sort of remind us of that that we're supposed to doing this to begin with and it's taken an extraordinary event to get us to that level. thank you so much for your leadership, chair ronen because you have been steady in calling out the needs of kids and families and what we can do despite this awful virus to support kids and actually get to a better place. so i'm looking forward to, you know, hearing from folks about their recommendations and doing the hard work to implement them. thank you. >> chairman: thank you so much. and, my staff, i wanted to turn
it over to the director of the department of children, youth, and their families. >> thank you, chair ronen, supervisor melgar, supervisor safai. good afternoon. and, actually, i think supervisor ronen took all of my talking points around sf rise. i will say that it does take amazing leaders such as you all to take just swift action, recognize where we needed to come together and, you know, a nudge and when the nudging didn't happen, forced it to happen. and, it does take that level of recognition. so thank you so much for creating the students and families recovery with inclusive and successful enrichment work group which once again that work group was established to come up with
solutions to support our students and families as they go through this recovery process. and, what we want to make sure happen when they come through this, they're going to come out stronger and better and we as a community will be stronger and better. before we go into the areas of the preliminary report, i do want to ask to set the context for the report. and, with that, i'm going to invite our partners at d.p.h. to come and share with us the amazing data that they released yesterday to show once again how resilient our communities are and how amazing our children and families are and finally, how amazing our teachers and schools are. so when we come together and work together, it's a win-win situation and that's what we have. and so i'm going to hand the
mic over to the amazing [inaudible] who will drive the deck for this part and then we're also bring on dr. davino nova from d.p.h. >> i'll get the slides ready. dr. baba, the floor is yours. >> thank you so much for allowing us to present a little bit about covid and children in san francisco and i also really want to commend dr. sue for her commitment to children and families over the last year and a half. we definitely would not be here today without dcyf's support. next slide, please, anna. all right. so i first wanted to explain this in terms of delta variant
and what the city's experiencing. so you can see from the graph here that we did peak with our rate and this is overall. we have decreased as well as, you know, you can see that the winter peak was actually higher for us which is good news we're seeing a decline. some of the things that i just wanted to highlight about delta because what we're seeing locally is obviously we had our peak and our surge that there's a different national story happening and so i just wanted to make some distinctions. delta is now accounting for over 90% of the sequencing that's happening through covid and so, it is the dominant strain here in the west. it is twice as transmiss able and that's why it has a
competitive advantage compared to other strains. and the transmissbility has caused the concern we're seeing. the other thing you should know about delta is that vaccines do work. they work around preventing serious disease including hospitalizations, and deaths. and so that's really good that our vaccinations are able to hold up against them. there is also a decrease in cases in those that are vaccinated. so, people who are vaccinated can still get delta, but they are less likely to. additionally, we've gotten data from other parts of the world and it does appear that because delta is so transmissible, what you're seeing is a lot more in-house transmission. so if delta gets into the house, it transmits very quickly to the rest of the household and that's relative to previous strains. i think we'll talk more about
some of the difference we're seeing in the bay area compared to the rest of the world. so if we can go to the next slide. so, now i want to focus a little bit about more on children because this has made national headlines. just this week, the american academy of pediatrics put out the fact that children are making up almost a quarter of the cases nationwide and that's been much bigger than any previous time. what we're seeing in sf is it's slightly different. currently, those under 18, make about 11.5% of cases and at no point in time have we had more than 20% of cases and that occurred during a relatively lower level of cases within san francisco. so, in general, delta and kids in san francisco is a slightly different story and i think there's a couple reasons for this.
one of the reasons you're seeing surges in kids, where that's happening is vaccination rates are very low and mask mandates are not in place. and so you get a lot more transmission and kids are not immune to this transmission. where we do see mask mandates in place and where there's a high rate vaccination, that does have a protective effect. even though the majority of cases are in adults and you ask other parts of the country are seeing surges in children as well. most children have mild to no symptoms and then most of the pediatric cases come from unvaccinated adults in the household who then spread it to the rest of the household. so this is our local data, and the orange part represents all cases above 18 and then the
light include is 0 to 11 and the darker blue is 12 to 17. and, you can see just in general, the 0-11 and 12-17 have remained really low. so it's not the whole pandemic, but from the middle of the winter surge until now. and, there have been, you know, mild increases and decreases, but in general, a steady rate and one of the most important things to note on this is when school re-opened because there is always a concern if school re-opened and there was a lot more mixing, would we see increased case rate. based on the guidelines and the science, there shouldn't be and school can be a low-risk environment. you can see this sfusd re-opened on the 15th and we have not seen a decrease in cases and children as a percentage. and, this is just another
graphical representation. by far, adults are the ones affected by covid representing anywhere from 75% to 93% of cases. on the bottom graphs are both 0-11 and 12-17. we break those out because obviously the 12-17 are ehlingable for vaccines where as the 0-11-year-olds are not. you can see that most of the cases are in the adults and, you know, it's been pretty stable in terms of the children and their case rates. there are some blips here and there, but most of it has been fairly stable. next slide. so, hospital aegises remain rare. this is in contrast to the national stories. but in san francisco, since march, there's only been 13 pediatric hospitalizations. currently, there are no san
francisco children hospitalized for covid-19 and, in general, we can't really publicized hospitalization data to do that, you need a number greater than 5 and at any given time there's never more than five people in the hospital. i think again, this is the layered strategy we have in place and the city has really led to this. next slide. and then, i finally wanted to talk about vaccines. so one of the things that we know can prevent the spread of delta is vaccination. i specifically want to call out the fact that our 12-17-year-olds, i mean, it's incredible, they are 90% fully vaccinated and i think that's one of the highest rates probably in the nation and, for those who just got at least one dose it's over 95%. someone recently asked me are you going to mandate for that age group and i said we don't need a mandate, they're already
doing amazingly and i'm just so proud of that cohort for really taking vaccinations seriously, wanting to protect themselves and their families, their peers, and their community. it's really a bright spot. and i think this is also why we're seeing such a low rate of hospitalizations and that's from covid in that age group, as well as they're protecting their younger peers. adults being vaccinated from covid, protect unvaccinated children. this is why it's critical that all of the adults that come into contact with children are vaccinated because they really do transmission. and then there's hope on the horizon. we concur that pfizer is planning to submit its data for the 5-11-year-olds at the end of this month and we'll have to see what the fda thinks about the data and what they decide to do in terms of authorizing the vaccine for that age group. so i think that's my end.
go ahead. turn it over to anna now. >> so i'm here to talk about the school's guidance and how that applies for this next school year. so as we know, all the schools have re-opened and we know that schools are a safe place for our children and our staff to learn, play, and make friends. as the data has shown and much of the research nationwide and internationally says that the risk of transmission is very low in schools, as long as we have layered measures in place and they're all used as much as possible by the school. it's important to note that when the community case rates are high, we actually do expect to see cases in all settings and that includes schools. it includes all other settings, the purpose of the guidance is designed to stop the spread of covid at the school between individuals at the school site.
and, we know that there are much more benefits of going back to school than staying home as we've all experienced in the past year including learning, mental health, physical health, and the social emotional development of our children. as dr. baba has highlighted, vaccines are our most powerful tool against covid and it is one of the most effective ways to decrease the risk of covid. there is more and more research that shows even with delta that it decreases the risk of hospitalization and death and that i don't think we can say this enough. vaccinated adults and teenagers help provide a protected layer that protects the children that are not eligible to be vaccinated yet. and that it helps to prevent the severity of infections as well, so research has shown
that vaccinated people are ten times less likely to be hospitalized. good news, in san francisco, we now have 81% of our entire population is fully vaccinated. the teenagers are doing better than the general population and then if anyone is interested in is still considering getting vaccinated, this is a way to contact us. either this phone number (628) 652-2700 and visit our website and we have many sites set up to get people quickly vaccinated as possible. this is throughout the state. face coverings are required indoors. they are not required outdoors. it is required for all adults and students, they must wear their face masks indoors at school regardless if they are
vaccinated or not and we know that wearing face masks indoors prevents the spread of the virus. it is not required outdoors because of the abundant natural ventilation. the state does require that persons who are exempt from wearing face coverings must wear a nonrestrictive alternative such as a face shield with a drape. this would apply to limited populations such as those students with some medical concerns where a face mask is not possible for them, but we want to see some kind of protective covering. and, that schools are responsible for developing and implementing protocols to ensure that everyone is wearing their face mask. and, i think in san francisco, we happen to be fortunate where we have a population that is generally in compliant with wearing face masks indoors as opposed to other areas in the state or even in the nation.
just to address ventilation because i know this has been a top concern especially with the headlines around wildfires in our state. we do ask schools to use outdoor spaces as much as possible and then when they are indoors, the schools can take one of three measures or all of the three measures where they can open their windows, they can improve the hvac systems and they can use portable air cleaners. and i'm not sure the general public understands, in the process of the school application review, sfdph has reviewed all of the ventilation systems at all school buildings. we hired an independent consultant and all the schools are required to submit what the ventilation was at their school site and how they approved it and we reviewed that and approved that before we gave approval to re-open. this includes all of the buildings at the school districts and all of the other
schools in our city. we have personally reviewed all the ventilation systems. again, we are seeing headlines about wildfire and poor air quality and we recognize that that is also another public health issue. schools should prioritize trying to keep healthy air indoors as much as possible. but, we are confident saying that schools can stay open. they do not need to close. they can temporarily close their windows, but in order to prevent the spread of covid, they should maximize other safety measures. that includes having portable air cleaners, doubling down on wearing your face mask, increase hand washing, please stay home when you're sick, etc., but it is not necessary to close schools in the event of a wildfire. there are areas that we know that we can now go back to pre-covid protocols.
we have learned a lot in the past year and a half about this particular virus and we know that this virus is spread from person to person. it is not spread through objects or services. so for the purposes of cleaning and disinfection, the routine janitorial cleaning once a day at a school site is sufficient because we know that covid is not spread through services and disinfection is only required in any area where there was a confirmed covid-19 case. and so it's important to note that vaccines are not widely available last school year. we only had it widely available towards the tail end of the spring. so with the wide availability of vaccines now, with the indoor masking mandate, the state and also the health department in san francisco, we believe that physical distancing is no longer
required as well as cohorting and that we can resume normal spacing in classrooms and normal academic calendars, especially for middle and high school where we have such a large vaccinated teenage population. some recommendations for meals and snacks recognizing that, of course, one cannot eat or drink with a mask on. so, again, we recommend that schools eat outdoors when the space and the weather allow. and, at this point in time, that's one of the areas that we suggest that you take unvaccinated students out as much as possible when they are eating. cafeteria and food service may resume. this is where schools should frequently touch surfaces when it's related to meals and snacks and any surfaces that come in contact with food to be washed, recognized, and sanitized. meals do no longer have to be
plated or bagged. and this is true before covid. we're asking everybody to wash their hands before and after they eat or drink and also considering wearing their masks which minimize the amounts of exposure that one would have in the event that they're, if you cover your mouth while you're eating, it's just less exposure time. this is another area where we are going to promote pre-covid protocols. we have always encouraged everyone to wash hands or use hand sanitizer. it's not just for covid-19, but it's for all infectious diseases. so we really want everyone to be washing their hands as much as possible, especially before and after eating and after using the restroom and asking schools and our parents and care givers to reinforce that message with our young people about washing hands, covering their coughs and sneezes and
not touching their eyes, nose, and mouth. we are strongly encouraging everyone to stay home when sick. point in time this is actually one of the most important measures that we can take. if students and staff have any of the following symptoms, please do not come to school and i want to highlight that article of the case in marin where there was a teacher who was unvaccinate and unmasked for a brief period of time, this made national headlines. but one of the things was that that teacher was symptomatic and came to school for a couple of days. if you are feeling sick, please stay home because thus then does not introduce the virus into the school community. excuse me. in the event that somebody does develop symptoms at school which can happen, for the staff, they should notify their supervisor and we work as much
as possible. schools should sent sick students home as quickly as possible and they should all have a designated isolation area for students to wait so they are not with other students and staff and this was part of the approval process for schools to re-open and then contact your doctor and get tested as soon as possible. so just a word about testing. we now have greater access to testing through home health kits and health care providers and d.p.h. has strong recommendations for testing. of course, we want to focus on those individuals that have symptoms and who are considered close contacts. even if you are vaccinated and you are having symptoms, we want you to get tested and if you're considered a close contact and vaccinated, we are actually asking everyone to get tested. we are not asking anyone who has had covid-19 in the last three months to get tested because there is viral shedding
and there will still be remnants of the virus in your nose and mouth and it will create a false result from the test. the state and our local health department requires that there be screening, testing for all unvaccinated teachers and staff at school. and this is just for unvaccinated staff. they either need to get tested once weekly, p.c.r. or twice weekly antogen. in general, we do not recommend testing students that do not have symptoms or known exposures or anyone that has had covid in the last three months. if you're waiting for your test results to also please stay home. we have had a number of cases where people have sent -- where they either have gone to school or sent their child to school while waiting for a test result and get a test result in that day and inadvertently expose a group of students and then they
have to go unnecessarily into quarantine. this is highlighting the data that we released yesterday related to schools. we are in i believe our fourth week of school. so we now can talk a little bit about what has been happening so we can see that the measures that we have in place seem to be working. we have schools all remain a low risk environment. since the school district opened on august 16th, they have reported 246 cases to us out of 200,000 individuals when you add up the students and the staff. for all the other schools, there was 61 cases out of nearly 27,500 students and staff. we have a team that worked on these cases and they have determined through exposure investigation, enhanced contact tracing and enhanced case
investigation that the vast majority of these cases were contracted outside of the school but did not necessarily spread at a school site. there are no countried covid-19 school outbreaks and the suspected in-school transmission numbers are solo that we cannot talk about them because of our privacy concerns. and, this holds the same pattern since the beginning of the pandemic. last year, we did not see any verified outbreaks at the school district and we did not see any verified outbreaks at any of the camps or the learning hubs that were established this summer even during the rise or the peak of the delta surge. and last year, throughout all of the individuals that were attending in person, there were only seven cases of in-school transmission among 48,000. so we take this as evidence that the measures that we have in place are working at
schools. and, just lastly, we want to say d.p.h. remains involved. we are continuously monitoring the pandemic and as the general public has seen, we will react when things either get better or get worse. so we will make modifications if the data and science indicate a need to do so. we are working actively with the school district to set up vaccine sites at school districts, at select number of school district schools to launch in the fall especially to be prepared for the event that pediatric vaccines will become available for ages 5-7 years old. we have dedicated trained staff to respond to all of the cases and exposures at schools. also doing case investigation and contact tracing. we rely on the schools to get us the names of the close contacts that are occurring on a school site because that is
something that we cannot do, but once we get the names, contact information of all those people, we do a thorough case investigation and contact tracing at school sites. and, of course, we maintain our school guidance and make updates as necessary. that concludes our school presentation and we're very happy to answer any questions. >> chairman: thank you so much to both of you. i want to ask my colleagues if they have any questions before we move on to the preliminary recommendation of the sf rise working group. nope. okay. i think that was very thorough and certainly very good news. so i really appreciate you all coming and giving us that update as background for the report from rise. the so thank you so much.
appreciate it. now, if i can turn it back to director su. >> thank you. i do want to emphasize that d.p.h. and sfusd meet on a regular basis every single week to have these very focused health and wellness conversations. so just to know in the spirit of sf rise and in the spirit of us working together, we do spend a lot of time in conversations and trying to bring problem solve and work towards, you know, making sure that all of our children and families are safe. with that, i'm going to hand this next part of the presentation over to jasmine dawson, our deputy director of city and community partnerships
at dcyf. jasmine. >> great. thank you. thank you to supervisor ronen, supervisor melgar, supervisor safai for allowing us to present on the sf rise preliminary plan to youth, young adults, and families committee. we are excited to share highlights from the preliminary report and to share what we have planned for the next several months. i want to thank and acknowledge our hardworking and deeply committed work group members who began this journey with us and may be here today. leslie hue, rafael picasso, dr. joyce durado, emily gar vie, marcus wong, maria su, commission bogess. i also want to acknowledge the attendees that came pretty regularly. jenny lamb, supervisor ronen and the other people who
attended these meetings. thank you to our staff and other teams. and lastly, our amazing consultants. clarity social research group, penny wang, and heather imoden. the work was processed, recommendations, longer term considerations and next steps. and, during our first meeting, these dedicated work group members identified areas they hope to solve participation in the work group. there were a lot of things. all-important. this included fairness and equity. super centering the work. racial l transformation. honoring strength and resilience, racial justice and
thinking about what we want for all of our children. centering youth voices and families and harnessing the group's energy focusing on families and supporting families with seamless access to services. i want to give big props to the work group. they were committed and did the homework. we completed this preliminary plan in record time. and next, i would like for us to have heather help share the screen so that we can show the presentation. >> i will be sharing the screen. this is maria. there you go. >> wonderful, thank you. this is an overview of the ordinance. the purpose of the working group is to advise the board of supervisors. i think we advanced too soon. advise the board of supervisors and the mayor and the san francisco unified school district on the coordination
and expansion of academic supports and services. to enrich san francisco youth whose academic achievement and personal development have been negatively impacted by school closures and distanced learning. the primary goals of the work group were to increase student proficciency and create and expand full scale in school enrichment programs consistent with community schools models. next slide, please. and this is our process. it's very robust. we had regular virtual meetings. the first and third thursdays of each month. the sub committees. they were the community school sub committee and they were set to gain a better understanding of gaps and then we are a community engagement of committee who focused on planning who and how to engage.
the community engagement work that we did over the summer and just recently, we had ten focus groups with 100+ middle schoolers and high schoolers. parents and care givers in summer together participants. and participation action research survey of 60 youth and gained insights from small group discussions. the summer together survey of 1,100 parents and care givers as well. we also had guest speakers come in and those were charice, dorothy smith from dcyf. we had medically lousman. the chief of student, family and community support division. research, planning, and assessment supervisor of analytics and city liaison. and also heather who is sharp
and rachel estrella. and then we had a warrior. and we had the development of the delivery of this report here today. and we had an open invitation throughout our process. next slide, please. and, index, i will pass it over to heather to talk about our immediate recommendations. >> thank you so much, jasmine. i appreciate that. thank you, supervisors. it's wonderful to be here to present to you and share the recommendations of the working group who have been working so hard and bringing these ideas to you. our report was broken into two major pieces. one was immediate recommendations largely based
on the community engagement from this summer talking to young people and to parents and care givers when we asked them about their needs for going back to school. that is what informed these immediate recommendations and then the second part that i'll also be talking to you about is the longer term challenges and recommendations for how we might dig deeper into the work so that our final report to you in the spring has longer term recommendations. so first i want to speak to you about this immediate near term recommendations. and, again, these are based really on what we heard directly from young people and parents and aligned really closely with things that the working group has been speaking about over the months that we've been meeting. and the major buckets are
enhancing social emotional supports. and we'd love to recommend that d.p.h. lift that information up about the health of young people in san francisco and the measures that have been taken in the school district because i think that will alleviate a lot of the concerns that young people have had about going back to school and the delta variant in particular. young people also asked for ongoing access to support including counseling, coaching, and wellness checks including informal check-ins from teachers and staff and a lot of empathy and patience from their adults as they get used to being back in the school environment. acknowledging that, you know, things like formal counseling can be really helpful, but even just acknowledging the
challenges that young people may be facing and doing those check-ins or wellness checks can go a long way to helping them feel supported. enhancing their out-of-school academic support. the young people have this anxiety about their preparedness and shared that they were concerned about what they did not learn last year and were looking forward to being back in person so that they could have more access to one on one support, group support, you know, study groups and help outside of school which could be enhanced by providing some professional development for student tutors or for out of school time staff providing coaching so that they can rebuild their study habits. so not just the sort of subject specific tutoring, but also, just let's get back to our routines of what it means to be a strong student and supporting them in that and supporting for
varied learning styles and temperaments. the students really had different requests depending on how they learn best. so if we can find a way to support their out of school time academic supports and give them options, that would be best for them. other things that we heard especially from parents, but also from the young people was ensuring that they had access to a diversity of out-of-school activities like arts, like technology, like sports. the young people are so eager to be back in these activities with their peers, so making sure that these are accessible for them and are low or no cost for their families was really important. we also asked them specifically about transportation and transit to and from school. and, they said they wanted more information about their transportation options and an
understanding of how their transit options would be restored as people start going back to school this year because some services have been cut back during the pandemic in that students were worried that that would affect their access to school and their commutes. and, then, lastly, making sure that before school programming is available for young people. with the new staggered bell schedule for the school year some families were concerned about getting different members of their family to school at different times. so if you've got a parent who's dropping off students to multiple schools and multiple grades, they may want to do one school run, but that means that someone is going to get to school early so that others can get to school on time. so they wanted to make sure their students would be
welcomed and there would be space and support for them. so these are the immediate recommendations that they share. and then there were also, thank you. we can switch to the next slide. there were also slonger term considerations that the working group is going to be looking at as we move forward and these were identified as the working group was talking about the issues around providing support and particularly around the community schools model. these are the sort of big topics that came up for the working group in conjunction with the various experts who presented to us. so there are challenges at the systems level. how do we strengthen a shared vision, understanding and commitment to community schools. how do we strengthen the partnerships between the district, the city departments, and the c.b.o.s the community based organizations that are supporting schools and how do
we make sure that we're coming together in support of the district who are doing such strong work to make sure that community schools model is something that really works for them. ensuring alignment and coordination across the district. and then focusing on those structural solutions. like i said, the immediate recommendation's really focused on some immediate needs that we can implement quickly, and there are also structural issues that we need to look at more broadly. so that's our longer term focus. school site level challenges also include alignment between school day and out of school time programming. and, understanding data sharing to inform the programming and i know that that's something that ocost has done and built upon. and student and family and
engagement. identifying the barriers to engagement. we know there are specific populations. what are the barriers, how do we alleviate those barriers so that families can be engaged across the board. that includes addressing cultural linguistic needs and safety when necessary. so based on those systems level challenges, those structural things that we're seeing, we are going to be doing some things in the fall that will be informing the final report that you'll see in the spring. so one thing we would like to do and plan to do is doing some case studies in partnership with san francisco unified, in partnership with social policy research partners who are doing some evaluations of the current community schools, the deacons, and working with the working
group to understand and document some of the models that are working on the ground and some of the bright spots that we can highlight and learn from and scale. so that we're not reinventing the wheel, but are building on the model that is are working and really helping to build that out more for students and strengthen what we can from what we learn. we also -- so for the case studies we are hoping to look at not just the current beacons, but how the school model to understand how that's working in nonbeacon schools. we are hoping to develop a dash board and work with the district on the dash board so we have some standard metrics across all schools. leveraging the data that exists and our case studies that we're developing so we can figure out
what we want to track as far as what does it mean. what are the elements really working for families and how can we identify where we are or strengthen where they aren't in other schools. so we'll be working with research partners to determine how we measure that and the goal is to provide sfusd with a tool for their ongoing monitoring program attic officers and their impact. and then the last piece is to be leveraging and partnering with ocost, sf families project where they have an online service director piloting that that functionalities. so we want to leverage this tool by the community based organizations that are working the schools and use that to identify resources that can
fill gaps. and throughout all of this, we'll be continuing our community engagement. i want to appreciate automotive of the young people and their parents and care givers who've shared with us this summer. we learned so much from hearing directly from them. we will continue to do that this fall. we're doing focus groups and intercepts and surveys in collaboration with the community needs assessment that dcyf is doing. the youth participatory action group is continuing their work and they'll be working with high school students and middle school students this fall. and we hope to partner closely with them so that the question, the research questions that they're studying can really help inform what we're learning and what we recommend. and, we just want to really keep listening because we heard in the summer about what the needs are expected to be, but now the students are back in school. the parents have their students back in school and they're
experiencing what it's really like and they're going to find out, oh, that thing i was worried about, that's actually taken care of or here's a new worry that i didn't know to have, how can we fill this gap for families. we'll be continuing the engagement work throughout because those student and parent voices and care giver voices are so important to our work. and then the last thing i want to share with you, the next slide, it's just a quick time line or where we were and where we're going. so the working group started meeting in may of this year. we did our meeting every two weeks at least since then. we did our engagement and a bunch of research over the summer and the preliminary report was completed last month in august. and that's the material that we're presenting to you now. this fall, we'll be continuing our research to dig into those larger questions that we
identified. we'll be synthesizing in the spring and also coming up with some costing so that we'll have an understanding of what it really will take to implement some of these measures and we expect to have a final report to all of you in march of 2022. and that's all i have. thank you so much for your attention for bringing this this working group together. and, i also want to thank my colleague penny flan who was not able to join us today, but she has been a major driving force for our team in facile facilitating our group and bringing this together. >> thank you so much, heather. and now we'll take questions. >> chairman: thank you so much. first of all, thank you for
this work. as you said, jasmine, this is record time and what was important to supervisor melgar and myself was that we had -- we didn't wait until the spring to have any recommendations that we could start on this work immediately when school got back into session and i know that was a very heavy lift. so i want to thank all of you for really meeting extra often to make that happen and, you know, i'm very excited by this preliminary report and preliminary recommendation. my main question because i love where you're going, i see where you're going, i see why you're going in the direction you're going and it all makes a ton of sense to me is do we have and this really is a question for
you, jasmine, for heather, and sfusd. i believe she's still here is how are we going to work together and what is the plan to work together between now and the spring to implement some of these preliminary recommendations? >> yes. i'll definitely kick us off and diva is still free to happen if you want to here. we want to go deep. phase two for us looks like working closely with the district.
we are already strategize one of the things that we acknowledged early on is that we wanted to be very closely aligned in partnership with the district and so we're all committed to doing that and meeting regularly. we were talking almost daily and so i definitely want to just say that our plan is to continue working closely together especially as we go into phase two and especially as we break down each of the activities that we've outlined. >> chairman: does anyone else want to add? i get that, but there were some very particular preliminary recommendations that [inaudible] i was wondering you know both from planning, from this board's supervisors from dcyf, from the district in order to not wait until the spring to implement those additions, but
to start improving on all of this because i know all of the recommendations, i know some of it's already happening. i know from my personal experience with my daughter at elementary school. but i'm just wondering what we can be doing between now and spring to, you know, further enhance those preliminary recommendations while we're doing that. >> i'm going to jump in really quickly and viva, you can close. two of the main things that came out of the immediate next steps are the immediate recommendations from this plan. one was expansion of mental health services and in partnership with sfusd, we actually are working very collectively to expand middle school wellness centers, expand high school wellness centers into middle schools and it's really leveraging the capacity of our beacon centers and the
school districts established coordinated care team. so the school district during the pandemic created once again in a really record breaking time line the coordinated care teams that took on the role of those wellness checks and wellness calls for children. now they have a little more resources to be able to bring on social workers to provide the one on one support and maybe the group supports for some of our middle school students. that's one result and the other one is ensuring that we have more before and after school slots for our children and families and this is something that we're working very closely with but also with our c.b.o.s so trying to figure out with our c.b.o.s how can we help them hire more staff.
honestly right now, the biggest issue is that we don't have enough staff. you know, staffing is unfortunately a citywide issue right now and we're working with our c.b.o.s to try to figure out how to bring along more people so we can then open up more slots. we're also working with our c.b.o.s to look at other potential sites and facilities that they could use to host before school care and after school care. so those are two ready immediate things that we're working with our school district partners on and, you know, the other stuff around just ensuring that the environment is welcoming and that young people feel safe in school sites. you know, i give it to sfusd, i know they've been working hard on making sure that all young people feel safe in school and we are working with sfusd and m.t.a. to try to figure out how
to make sure that young people feel safe going to and from school and so we're having those deep conversations with m.t.a. to make sure that that is happening, but those are, you know, preliminary conversations. we don't have a set, concrete thing. viva, do you want to share anything else? >> yeah. i think it's been -- i think those are all the right points, you know, we as a district have been getting school going and having school starting and welcoming students back, we really do appreciate the cities kind of taking on part of the after school and before care. before and after school programming and then also the transit component. i think that's been a huge topic and that those are real needs from students that are coming when we take surveys. just more availability with public transit and now that it is free, we do want students to be taking that and using that
as their option of transit because we don't have the general funds to really be able to provide the yellow school buses for all of our students. those are real key things that we want to be working on and as we move forward asthmaryia said in long term by having common language and we have been spending a lot of time, establishing can common language with the city and the district it's going to be absolutely critical because i think we all have a vision how we approach. i think the long-term goal of having every student feel safe and welcomed and important is the same, but i think we've always had a different approach from the city and the district. i do appreciate maria spending a lot of time with us, with our leadership as well what does partnership look like and what are shared values, those are all things we've been working on and i think that's our long-term goal. i will just point out that the
mental health services, its expansion are absolutely critical and we want to remind the public that every school in the morning, they do spend time on kind of wellness and more of social emotional support whether it's journalling, whether it's meditating, we're dedicating time for our students that may not need large interventions, but just figuring out to be in school and in community again, it's highly anxiety driven and so i think that those kind of methods at our school sites are implementing day-to-day have been impactful for our students that it's not just academics, we are spending a good chunk of the morning dedicated to support that need. i just want to share that piece that's coming from our school sites to know we do need large interventions and we also need day-to-day consistency with our students as well. >> chairman: great. you know, i'll turn it over to
my colleague, supervisor melgar, but i do want to say that i'm definitely interested in taking all these preliminary recommendations and really sort of simultaneous and parallel, you know, direction as the deeper dive and as viva said, the development of shared understanding and shared language and you know, sort of what we mean by community schools and how that works which i'm excited about, but i want to be moved forward on these recommendations in a way. so, you know, perhaps we can use this forum as a way to take some of these things and really dive deeply on separate recommendations. so have m.t.a. come here and really do an inventory for
every single school, you know. what are the best routes for the student population. how many buses does it take to get there. are students arriving on the bus. do they feel safe? etc. so we can take each of those components, but before and dig deep on not only, you know, currently but what do we need to make it better and how can city and supervisor melgar and i be partnering with dcyf and with the district to, you know, whatever it is from raising funds to, you know, improving systems that we need to do to enact those preliminary recommendations because no matter what the long-term analysis and costings will be, those preliminary
recommendations will be part of it, i'm sure and why wait until the spring to do that, let's get started now. supervisor melgar. >> supervisor melgar: thank you so muches, chance of a shower ronen. so i want to start out by saying thank you for your leadership and thank you, jasmine, maria, and viva for all your hard work and for your thoughtfulness in the spirit of collaboration that has gotten us to this point. it's super exciting. i had the opportunity over the weekend to speak to commission bogess and we had a long conversation about how great it is to have all of this collaboration to get us to where we need to be. thank you for the report. like chair ronen said, it is amazing, i do want to make some
requests to the report specifically for like where we go next and the thing that i am am hoping we drill down on, you know, for more specificity is that i think all of us because we care about kids and, we are in this, you know, we tend to talk about programs because, you know, that's what, you know, moves our hearts. i think we have an expert team of folks on the sf rise committee. and we will look at what has worked. do thanks, look at those things thoughtfully as we expand. what we don't often talk about and i think it's really crucial in the operationalizing is money. and so what we have for, you
know, sort of the pass in reviewing is a business plan that is specific to tier three schools and as we expand to tier two and one schools, like i want to know what that looks like in terms of money for the c.b.o.s and for the schools, for the parents, and the p.t.a.s. so i would like us to, you know, cost out what it's going to take to do an expansion of hiring staff at the living wage which is, you know, what we should be paying back and we need is to be able to recruit and what i saw this school year in getting up and running what was a disparity between east side and west side schools when it came to being able to staff up precisely because, you know, the department of children, youth, and families and the school district during the
pandemic very rightly pivoted right away to address the sort of business plan of the c.b.o.s who provide the service as schools so that they could keep paying their staff and shift to online programming and wellness checks and all that. a lot of the c.b.o.s were able to keep their staff whereas on the west side, c.b.o.s didn't have contracts that, you know, could keep their staff on, laid off all their staff. some of the c.b.o.s even went under, those organizations and so we were faced with having to rebuild programs from scratch and some of those schools. i hope that never happens again. i hope we never have a pandemic again, but it's a lesson for us about sort of the business side of, you know, this world and i want us to be thoughtful and so my ask to you is, you know, as
we think about an expansion, can we please look at like sort of the business plan of what this requires at the role of fees and fundraising and, you know, private philanthropy and what level of subsidy and all of those things because i think it's really important in operationalizing it and it will give a frame work to our c.b.o.s, our principals and our p.t.a. communities and going forward with sort of this dream of community schools for all everywhere. >> yes. that's great. and that came up quite often in our conversations with the work groups and we were closely focused on getting the preliminary plan done, but we need that we needed to come back to cost and that will also be integrated into phase two as well and thank you for calling that out. >> supervisor melgar: thank you. and it's a little bit more than just cost. right. because we kind of have what
cost is. it's cash flow, it's, you know, like the capacity to take cash payments or fundraising capacity. not everyone, you know, has that on their staff. development. like it's all of those different things. so i'm hoping that we can tackle it and i also want to say, you know, in terms of the recruitment how important the collaboration with the sfusd is. i know when i worked at at c.b.o., we used the educator pathways program as an actual recruitment tool because we knew a lot of the students of san francisco that were looking at careers in education wanted to be in a position where they could advance their professional development goals and that did it and we worked closely with jenny steiner and making sure that the work plans
of our individual staff neared what we needed to get into the pathway program. you know, all of those things are really important in terms of the collaboration, but, you know, again, the money is really important. i want to be talking about it now so that, by the time we are time lined that's to those markers we're ready and able to do it. >> chairman: here here. i couldn't agree more. if there is no more comments or questions, i would love to open this item up for public comment and i'm kind of hoping some of the work group members are here to give their perspectives on this work and their involvement with it. with that, mr. clerk, can we please open this item to public comment. >> clerk: yes, madam chair, we are checking to see if there are any public commentors in
the queue. for those who have called in and wish to speak in this hearing please press star 3 to be added to the queue. you will hear the system prompt indicate you have raised your hand to confirm you are in line to speak. for those on hold, wait until the system indicates you have been unmuted and that's your signal to begin your comments on this hearing. ms. rios. >> we have two callers on the line. i'll put the first one through. >> hi, this is meredith gatson from the san francisco parent coalition. thank you so much, supervisors and thank you d.p.h. for sharing the data and information today. i'm so glad that we can take a deep breath of relief that things are going well with our schools fully re-opened and our kids and educators are being kept safe. so thank you to everyone. and, i also want to thank the
sf rise work group for this preliminary report. i think it sounds smart and sensible. thank you for listening to families and our youth and then also, i just wanted to suggest two things. one is that i think it's my understanding that we need to collect better updated data on sfusd and where kids are at currently coming back to school. so assessments through the district, finding out where kids are at academically and what kind of mental health supports they need immediately and i know this is just very urgent time sensitive critical to be happening now. it appears it's happening at some schools and not others. so it would be great to figure out a systematic way to make this happen for our students. and then, for the final report, just a recommendation to make sure that we have substantive tactical recommendations for change, like what are we going to do differently? what are we trying to change and also based in the reality of where our district's at with
regard to the budget outlook. you know, how are we going to do more with less over time unfortunately and just thinking about the reality of our budget situation in the district. that's all. thank you so much. >> clerk: thank you, ms. dotson for your comments. do we have any further speakers? >> we have two more callers. >> hi. my name is honda kelly. i am a parent. i have a child who has an i.e.p. as well as in general education. he has been struggling over this past year and a half and i'd like to second what meredith said. it's very important that as you're meeting and collaborating with district leaders, you're also collaborating with all school sites because they are doing different things.
i can say that with certainty as well as parents are not quite clear on where their child is right now. i am getting a little bit of information as to where my son is. how he's struggling, but it's not enough for me as a parent to fully hold his hand as to what the next steps are. i am concerned. i'm concerned that my son is not getting clear information as they are doing their best, but it's not quite what my son needs and what other marginalized students as well as other students that are just behind in my son's school currently needs as well as the information that parents are receiving from the district in particular with covid recovery and learning loss. at best, i've heard they are
working on it and i believe that, but i have not heard beyond that. social emotional is very important, mental health is very important, but we need some data. parents need data. we need to know where our students stand, where all students stand right now so we can plan to move forward. i also want to add i second supervisor ronen. based on the little i know, i do know feel my son can wait until spring for this to move forward. he needs action now and i need support in that. so, separate from that. i just want to thank you for doing this. this means the world to me. thank you. >> clerk: thank you for your comments. ms. rios, next speaker please. >> hi, my name is rafael
picasso. i'm a school district chapter president and working with sf rise working group, it's been amazing getting to know all these really good professional people who really care about our students and our schools and to work together as a team and coming up with these great recommendations to build our students and, you know, programs and getting the help where they need it especially after the year and a half of the pandemic. i just want to thank everybody that's on the group for the continued hard work that we are going to continue to do to make sure we come up with a great plan for the san francisco unified school district and our students and helping parents take care of themselves and taking care of our communities. so i want to thank you you board of supervisors, hillary, and maria. thank you for everybody.
>> clerk: thank you for your comments. ms. rios, can you verify that that was the last caller. >> i will verify that that was the last caller. >> clerk: thank you much. madam chair. >> chairman: thank you so hutch. public comment is now closed and i want to thank all of the callers. we are -- i can speak for myself and i know this is true for supervisor melgar as well because i talk to her almost every day about it, but we are completely committed to working nonstop because we know that our kids and our educators have had perhaps the hardest year ever in san francisco unified history. it's possible certainly in recent history. and, we know that it takes a village to rebuild and make sure that our students and our
educators get the help and the assistance they need in a chronic alley underfunded educational system. and i think it's impossible to talk about this work without calling out a bigger problem in our state and in our city about the fact that we do not properly fund our public school system in california and so we are asking our school district and our educators to not only and we've learned this throughout covid to not only do their core job of educating our students, but to really make up for everything else that's missing in our society from the mental health needs of off students to the food security needs of our students to the
housing security needs of our students. it really is child care needs. our schools operate already as a center and we didn't realize we never got a better look at this than we did during covid when schools were in distanced learning both how important this institution is to our children and our families and our society at large and so while we are hell bent at bringing back our in-person learning in the state that's strongest and best ways that we possibly can for our students and educators and our families, we are not ignoring the broader picture in california and in san francisco of our chronically underfunded schools and that's why supervisor melgar is and not just supervisor melgar but dcyf is so laser focused on what does
it really cost to get our public schools, you know, at the best place that they could possibly be and, you know, to expand this community school. it's not just a title three school but as a system wide reality where both inside the classroom and out we are supporting our students and families with whatever they need to succeed fully and at school. and so we're working on it and it's just been a pleasure. we need to constantly reinforce and we need to make sure we're pulling out the best that the
city departments that we really are collaborating to the best and fullest of our cable to educate our we have all the urgency in the world to not wait to do this work but to continue to do it now. i do feel positive and optimistic and i feel urgency to get proper funding to our school districts. with that, i wanted to see if supervisor safai and other parents in the sfusd school district have anything to add or share before we continue this hearing. >> supervisor safai: no.
i just wanted to thank you both for all your hard work. at the end of the day, like you said, supervisor ronen, so much of what is necessary, but also so much of what is possible became magnified under covid and things that we might not have ever believed could be possible are on the table and so like you, like i was for transit day, i think we've had a year and a half of negativity. i think we can always focus on the negativity and part of the time, that's our job, right. i mean, we've all had to do that in our position is to kind of laser in on areas that need for improvement. but i think this is an area that we can focus in on the positives and really highlight, you know, things that need to be improved upon, encouraged and supported, but really using
statistics and analysis and all the people doing this on a daily basis and really listen and i think us as legislators, you know, a lot of time our job is about listening to the people that are on the ground doing the work on a daily basis. that might be the families. that might be the children themselves. that might be the providers. that might be the educators. that might be the administrators. all of those collectively and i think you have those represented in your working group and then we all have our own personal experiences, the hustle and bustle of being a parent in this city. so very excited about the great work that you guys are both doing. i'm happy to support in any way that i can and ultimately believe that the model that is we're looking at in support and kind of extending the classroom into the community, into the summer, into the after school environment, into the before
school environment is crucial and so i'm here to support in every way i can. thank you both for your hard work on this and we are going to continue to come up with more wonderful work and support for our san francisco. thanks. >> chairman: thanks again. so if it's okay with my colleagues, i think i will make a motion to continue this item to the call of the chair just in case we want to go deeper on any recommendation. we can just let all the parties know and bring it back. and so, with that, i will make that motion and just really want to thank everyone who came and presented today on this item. you're all amazing and we appreciate you very much. mr. clerk, can you please take a roll call vote. >> clerk: yes. on the motion by chair ronen to continue this hearing to the call of the chair, [roll call]
we do have three ayes. >> chairman: thank you so much. and, mr. clerk, do we have any other items on the agenda today. >> clerk: no further items but just a little bit of clean up. i did check procedurally what should be done with that duplicated file. while the duplication itself required no vote. we should act on it appropriately. so a motion to continue to the call of the chair would be appropriate. >> chairman: okay. i will make that motion or supervisor melgar. >> supervisor melgar: that's it. you've made it already. it's fine. >> chairman: can we have a roll call vote. >> clerk: yes. on the motion offered by chair ronen to continue the duplicated file on item two to the call of the chair, [roll call]
promotes local businesses, and challenges residents to do their shopping within the 49 square miles of san francisco. by supporting local services in our neighborhood, we help san francisco remain unique, successful, and vibrant. so where will you shop and dine in the 49? >> i am the owner of this restaurant. we have been here in north beach over 100 years. [speaking foreign language] [♪♪♪] [speaking foreign language]
>> i went through a lot of struggles in my life, and i am blessed to be part of this. i am familiar with what people are going through to relate and empathy and compassion to their struggle so they can see i came out of the struggle, it gives them hope to come up and do something positive. ♪ ♪ i am a community ambassador.
we work a lot with homeless, visitors, a lot of people in the area. >> what i like doing is posting up at hotspots to let people see visibility. they ask you questions, ask you directions, they might have a question about what services are available. checking in, you guys. >> wellness check. we walk by to see any individual, you know may be sitting on the sidewalk, we make sure they are okay, alive. you never know. somebody might walk by and they are laying there for hours. you never know if they are
alive. we let them know we are in the area and we are here to promote safety, and if they have somebody that is, you know, hanging around that they don't want to call the police on, they don't have to call the police. they can call us. we can direct them to the services they might need. >> we do the three one one to keep the city neighborhoods clean. there are people dumping, waste on the ground and needles on the ground. it is unsafe for children and adults to commute through the streets. when we see them we take a picture dispatch to 311. they give us a tracking number and they come later on to pick it up. we take pride. when we come back later in the day and we see the loose trash or debris is picked up it makes you feel good about what you are doing. >> it makes you feel did about
escorting kids and having them feel safe walking to the play area and back. the stuff we do as ambassadors makes us feel proud to help keep the city clean, helping the residents. >> you can see the community ambassadors. i used to be on the streets. i didn't think i could become a community ambassador. it was too far out there for me to grab, you know. doing this job makes me feel good. because i came from where a lot of them are, homeless and on the street, i feel like i can give them hope because i was once there. i am not afraid to tell them i used to be here. i used to be like this, you know. i have compassion for people that are on the streets like the
>> president casciato: would you give the report -- roll call, please. >> thank you. >> commissioner bridges: present. >> commissioner driscoll: present. >> commissioner gandhi: present. >> commissioner heldfond: present. safai absent. >> commissioner stansbury: present. and president? >> president casciato: present. >> thank you, we do have a quorum. >> reporting that on item 4a,
regarding anthony garibaldi, the set aside the hearing officers decision denying the application and decision denying the petition for rehearing and remand the case with the following directions. remand the case to the office of the administrator hearing to request that the hearing officer offer a decision without hearing consistent with the determination that garibaldi was incapacitated of his job due to medical-related conditions and there was no -- that accommodated his work restrictions. two, present the hearing officer's decision on remand to the retirement board after issuance of the decision. the motion was as follows, president aye.
board member bridges aye. driscoll aye. board member gandhi absent. board member heldfond aye. stansbury aye. thank you. >> president casciato: now we need the motion to -- on whether to disclose the discussions held in the other two closed sessions. >> i move that we do not disclose the decisions -- or discussions in the prior two meetings. >> i secretary. -- second. >> moved and seconded. any discussion? any public comment? >> thank you, a reminder to any callers to press star 3 to be
added to the queue. moderator, any callers on the line? >> madame secretary, there is one caller on the line. >> thank you. caller, please state your name, your two minutes begins when you speak. hello. caller, you may begin. >> i'm actually waiting for a different item or general public comment. >> thank you. this is in regards to the closed session. moderator, do we have any other callers?
roll call vote, please. >> commissioner bridges: aye. >> commissioner driscoll: -- >> commissioner driscoll: aye. >> commissioner gandhi: aye. >> commissioner heldfond: aye. >> supervisor safai: aye. >> commissioner stansbury: aye. >> president casciato: aye. thank you, we have seven ayes, motion passes.
president, item number 17. >> item 17, action item, renew and approval of amendments. this item was continued from the august 11, 2021 retirement board meeting. yes, commission we presented proposed amendments to both the retirement board terms and reference as well as the executive director terms of reference at the august 11th board meeting. and after discussion among the board, we were directed -- staff was directed to work with the governance consultant and the deputy city attorney to come back with amendment to the policies that would provide the board an option to either engage or hire an executive director, a c.e.o. only, or a merge
c.e.o.-c.i.o. position. so we are bringing back the proposed amendment now just to the executive director terms of reference with these amendments we would not need to amend the retirement board terms of reference, so we have provided the proposed amendments that basically by definition include within the term executive director either a c.e.o. only or a combined merged c.e.o./c.i.o. position. on page 7, we carve out if, in fact, the board would be pointing an executive director -- appointing an executive director who served only in the c.e.o. role, that this c.e.o. would have the ability and authority to hire a c.i.o. with that, i'll be happy to
answer any questions that the board may have. >> president casciato: any questions from the board? hearing none, public comment? >> secretary: reminder to callers to press star 3 to be added to the queue. moderator, any callers on the line? >> madame secretary, there is one call otheren the line. -- caller on the line. >> secretary: thank you, caller, please state your name. your two minutes begins when you speak. >> thank you, this is clare and i'm representing the retired employees of the city and county of san francisco. we sent you a letter that i hope is entered into public comment and in your packets. in addition to the points brought out in our letter, we would like to point out a number of things that, again, we actually believe that while you
are changing the terms of reference that they violate the spirit of the charter and maybe even the letter of the charter with regard to separating out benefits administration over all administration from the chief investment officer position. we want to point out that it is your personal liability, it is your fiduciary responsibility if taking these actions cause any harm or negative situations to the pension plan and to our benefits. we clearly believe there is a conflict of interest with these two areas that are very separate. and that all positions are funded from the trust so, therefore, you should not be under any pressure from external sources with regard to setting the wages or any other financial
obligations with regard to these two positions. it's a matter of maintaining our funds at the level that it is and at the financial positive situation that is 100% market rate funding. we also are concerned that since in 2035 you will no longer be accepting contributions from the city and county with regard to our pension plan, we think that points out more than ever that the investment officer -- chief investment officer needs to be separate and needs to devote 100% of his or her time during that position in order to maintain our pension plan at the level of funding and -- the level of funding and status that it has achieved. we believe that there are complex investment skills required for the investment
officer position and that those are unique and separate from anyone who does overall general administration or benefits administration and they're at very different ends and experience levels with regard to the c.e.o. position. and, again, that person should be working -- >> time has expired. >> secretary: moderator, any other calls? >> madame secretary, there is one call on the line. >> secretary: thank you. caller, please state your name, your two minutes begins when you speak. >> yes. this is fred sanchez, president of apgar benefits. before i speak on this, i would like to actually probably hear more about it from the experts as far as the terms of reference. if this is simply providing flexibility that it's not
committing them to putting the positions together or keeping them the way they are now, i think i need to hear more from the experts. that's all i want to say. >> secretary: thank you for your call. moderator, any other callers on the line? >> madame secretary, there is no more callers on the line. >> secretary: thank you. hearing no calls, public comment is now closed. president? >> president casciato: thank you very much. board members, any comments? jay, you have other comments? hearing no comments, any action?
>> the terms of reference to the executive director to include the chief investment officer, chief executive officer position. >> if that was a motion, i will second it. >> president casciato: it's been moved and seconded to adopt staff recommendations, is that correct? >> yes. >> president casciato: any discussion? >> i have one comment. i want to thank the staff and other consultants who are been involved in this debate which has been going on for over a year. the whole process is more than one year, but the last many months trying to figure out what is the best structure for the system, which is not over yet. making our terms of reference enough to find the talent we need to run the system, we can do so.
>> okay. thank you very much. i echo those comments. appreciate it. if there isn't anything further, i'd entertain a motion? >> move to approve. >> i think -- i think joe and -- >> joe and brian made the motions. if there is no other comments, then we'll call for the vote. >> secretary: roll call vote. >> commissioner bridges: aye. >> commissioner driscoll: aye. >> commissioner gandhi: aye. >> commissioner heldfond: aye. >> supervisor safai: aye. >> commissioner stansbury: aye.
>> president casciato: aye. >> secretary: thank you. we have seven ayes, motion passes. president, which item would you like to start off with? >> president casciato: jay is going to give me the items that need to get done before we lose a quorum. >> item 18, which is approving the proposed revisions to retirement board resolution 44. >> item number 18 -- >> president casciato: let's go for item 18.
>> approved proposed revisions to retirement board resolution 44. >> good afternoon, commissioners, you have before you a number of changes to the resolution 44 document which is the general grant of authority to designated staff members to conduct certain business transactions. we haven't updated it in a while. and if you saw from the red line there, there are quite a few of our staff members who are no longer with us. and so we wanted to update it to account for the new staff. and we also wanted to clarify, particularly in 44d, which designates certain authority to staff under direction the types of transactions that those designated staff members are, in fact, authorized to conduct. we have found over the years that there was a little bit of confusion as to what some of the staff could and could not do
pursuant to the designation of authority, so in this particular revision, we've clarified that. the most significant change in my opinion, is that we have added our investment operations director to the authorized persons under 44d. as you may recall, it has been in the last year or so that the board has approved and we were able to successfully hire an investment operations director. and adding him to this particular branch of authority is in alignment with what he would normally be doing in the private sector in the normal course of his business. so we're trying to update it to show the way we do business today. and i'm happy to take any questions.
oh, and there is one typo that we've had over the years and that is with respect to the authority under the constitution. we've got it backwards. and we will fix on the final product the actual correct authority under the california constitution. i'm happy to take any questions. >> thank you. >> president casciato: thanks. any questions of karen? if not, we'll need to -- oh, public comment, please. >> secretary: callers, if you have not already done so, press star 3 to be added to the queue. moderator, any callers on the line? >> madame secretary, there are no callers on the line. >> secretary: thank you. hearing no calls, public comment
is closed. president? >> president casciato: if there is no comments, i'll entertain a motion. >> move to approve. >> second. >> president casciato: okay. commissioner gandhi second. roll call vote, please. >> secretary: thank you. commissioner bridges? >> commissioner bridges: aye. >> commissioner driscoll: aye. >> commissioner gandhi: aye. >> commissioner heldfond: aye. >> vice president safai: aye. >> commissioner stansbury: aye. [please stand by] [please stand by]
>> president casciato: thank you, very much. public comment, please. >> a reminder to callers to dial star 3 to be added to the queue. moderator, are there any callers on the line? >> there's one caller on the line. >> clerk: thank you, caller, please state your name and your two minutes begin when you speak. >> thank you, there is claire again from the retired employees of the city and county and i just want to say thank you. we're happy to see this report being put forward now so that we can announce to all of our members that they will get this supplemental cola. thank you to the staff and to everyone who worked on this. we really appreciate it and especially to all those in the investment section who made this happen. thank you. >> clerk: thank you for your call. moderator, are there any other callers? >> madam secretary, there are in more callers on the line.
>> clerk: thank you, hearing no calls, public comment is now closed. >> president casciato: go ahead. >> may i ask a question? janet, my understanding of the supplemental call, not only do we have to meet our targeted rate of return, but we have to have enough excess earnings to then pay it and i see the calculation that is in here. at end of the day, if we were just to say we need to hit a return number of 7.4 and there's the excess on top of that that we have to hit. what does that come out to? eight? >> well, there's a conservative estimate of $315 million there and if you were to divide that. our assets are high.
that answer has been smaller in years passed. i think it's been as high as 1%. right now it looks like about a tenth of that. >> would you mind following up off line and giving me a note. >> that's a good idea. thank you. >> thank you so much. >> president casciato: thank you. watch out for your microphones, we were getting a bleed over there for a second. no more public comment? we need a motion to adopt the report. and i'll take the opportunity just to say thank you to everybody from staff, all staff, all sides of it. for the great thing and remind the public that our staff are our members of our system and
future retirees. thank you. we need a motion. >> we adopt staff's recommendation. >> president casciato: thank you, very much, commissioner bridges. anybody second? >> second. >> president casciato: second commissioner. roll call vote, please. >> clerk: thank you -- [roll call vote] >> mr. driscoll? >> there's something wrong with the microphone on this computer. >> clerk: i can hear you now. we're doing a roll call vote.
[roll call vote] >> clerk: you have seven ayes, motion passes. >> president casciato: next item is item 15 the request toen close a combined campaign correspondence from the mayor's office. >> clerk: item number 15, action item. request to inclose combined charities campaign for respondents in the september 2021 retirement allowances. >> president casciato: this is a routine request that we have done over the years, we include for the retirees an announcement
the the city's combined charities campaign and that we ask them any retirees who want to contribute, they mail their checks directly to darlene, darlene compiles them and then forwards them onto the city. so, we would recommend that the board approved this for the pension check that would be going out at end of this month, september, 2021. i'll be happy to answer any questions. does this require a motion? >> president casciato: it would. public comment first. >> ok. >> clerk: a reminder to callers to press star 3 to be added to the queue. moderator, are there any callers on the line?
>> madam secretary, there are no callers on the line. >> clerk: thank you. hearing no callers, public comment is now closed. >> president casciato: thank you. there's no questions from commissioners, if not all entertain a motion. >> so moved. >> president casciato: motion moved to adopt staff recommendation. >> yes. >> president casciato: seconded by gandhi. roll call vote, please. >> clerk: thank you -- [roll call vote] >> clerk: thank you, we have seven as and the motion passes. >> president casciato: next item we should do the consent
calender since that is time sensitive which is item number 7. >> clerk: item number 7, consent action item consent calender. >> president casciato: call for public comment. >> clerk: moderator, do we have any callers on the line? >> madam secretary, there are no callers on the line. >> clerk: thank you. hearing no calls, public comment is now closed. >> president casciato: any comments from the board members or any items that would be taken separately or anything? if not i will order a motion to adopt the consent calender. >> so moved. >> i move to adopt the consent calender. >> president casciato: thank you. roll call vote. >> clerk: -- [roll call vote]
>> clerk: thank you, we have seven ayes, motion passes. >> president casciato: we have two remaining action items, one is the minutes from the august 11th meeting and then another one is investment items which i was sort of saving for the last action item which is item number 9. recommendation to adopt the euro dollar and pound guidelines. so i would suggest maybe we do
the minutes and then go to item number 9. minutes are number six, item number 6. >> clerk: item number 6 action item, approval of the minutes of the august 11th, 2021 retirement board meeting. >> president casciato: public comment, please. >> clerk: moderator, are there any callers on the line? >> madam secretary, there are no callers on the line. >> clerk: thank you, hearing no calls, public comment is now closed. >> president casciato: thank you. unless the commissioners have a question, i'll entertain a motion. >> president casciato: approving second. >> second. >> president casciato: thank you. commissioner gandhi. roll call vote, please. >> clerk: thank you -- [roll call vote]
passes. >> president casciato: i believe item number 9 is the last action item. is that correct, jay? >> that's correct. >> clerk: action item 9. recommendation to adopt euro dollar and pound sterling guidelines and composed changes to the ud dollar guidelines to be securities lending col attar at reinvestment account with bny melon. >> i'll be brief here. in february of 2020 we reinstated a security lending program with bny melon we'll talk about the key features and performance later on this afternoon. what we're addressing here today is an oversight when we established the program, currently, the program only accepts u.s. dollar for cash collateral, however, euros and great british pounds have become a preferred form of collateral for non u.s. equity collateral. so we're asking to add that to
the portfolio with the believe that our ability to lend out non u.s. equities will expand from a fairly low utilization rate to 12% to two to three times that amount. guidelines for these have been attached for your review. again, these are implementation details but in the interest of transparency i wanted to bring them forward. anna lang can speak more and we have michael mcinnis available to answer any questions. >> president casciato: any questions? >> just a quick question. so, i'm concerned about the rates and on the euro dollar and how that will work in the accounting port. did they talk about that at all.
the rates were negative and they couldn't account for it so i'm curious what they put in place since then? >> certainly with the rate climate in europe there are negative rates. >> that's what i'm concerned about. >> so, this is a spread creation exercise. so the revenue that is earned is the difference between the yield earned investing the cash collateral and the rebates owed to borrowers. so, one of the paramount things in the program is to create a spread that's meaningful for you and for the participants. so, yes, the yield on the euro dollar account would be negative but the cost of the cash would be an even more negative number, right. so the rebates that we pay is a negative numberer.
the borrowers are going to pay you a premier jump for borrowing your securities and that's the way the spread works on the euro dollar investment. >> president casciato: it's the spread here that's relevant, not the direction of it? >> right. >> so it's a well worn path for us. euro dollar investing fell out of favor after the events of 2008. over the past number of years, we've seen more and more participants on the lending side come in and want to accept euros and borrowers in various jurisdictions like to try and structure their lending activity potentially by the currency of the security they're borrowing so it just provides another attractive at let to gain intra mental income in a risk controlled manner. >> exactly.
that's why i asked the question, usually it's in the currency and the country of denomination and it's an easy way to track it in terms of accounting as well as just doing the whole, i guess the asset liability management part of the program. >> so, yeah, that's a great point. whenever we look at that, the hair cuts potentially are different depending on exactly what is being lent. the collateral hair cuts so from a risk perspective it's accounted for. when we're looking on the loan side, and the investments side, you have the well coordinated approach maintaining exactly where we are with the yields and that feeds into the lending system so we have a good idea of what the cash is is earnings and about what rebates to earn you a
meaningful spread. >> that's what i need. you are getting daily accounting on that and you can track it and you can benchmark the assets? >> absolutely. we can show you your field every day on it. >> ok. >> in the past, that wasn't the case as you know, ask that's where most people took their losses. >> go ahead, i'm sorry. >> particularly in the european market, that's where most of the losses occurred because you weren't able to benchmark or a cue account for the asset liability part of the program so therefore, it was a mismatch in terms of what you would invest. >> i think the best way to think of it is, while the rates situation, the yields are certainly different than what wore doing now on the u.s.
dollar side. fundamentally, what we're striving to accomplish isn't. so, it's the daily accounting, it's one of the things that has been changed across the industry and definitely here in our program, where there's daily transparency in terms of what the yields are and what the liquidity is so on and so fourth. that's a completely coordinated activity today between the cash reinvestment side and then what the loan side could support. >> commissioner bridges, we will be opening two more accounts, one for euro dollars and one for sterling and each account we will set up exactly the same monitoring and reporting. >> that's what i was looking for. thank you. exactly. >> it's exactly the same time guidelines if you see within the same money-market like expectation and this same collateral requirements and the same importing. >> thank you.
i think it's a good program. it's just the accounting and the mapping is very important. it's also important to kept daily accounting accurate because of the fluctuation and the currency. >> it's a very good point, commissioner bridges, because if you remember last time, it was the co mingling a counting that got us into problem. >> exactly. >> exactly. here we're saying, separate accounts. separate accounts for dollars and separate accounts for euro, dollar and separate for pound sterling. >> ok. thank you so much. >> with separate guidelines that we are determined. >> that you monitor on a daily basis. >> right. well, we don't monitor, we monitor it. >> as custodians. >> we have access to it and we can go to on-line reporting and access this on a daily basis and we view it monthly and quarterly according to our press use and
procedures that we approved last year. >> president casciato: they were separately managed accounts and then conservative investment guidelines and those were the three features and i didn't call that out in advance of introducing this idea and we'll talk more about it later on this afternoon. >> it's in your write-up so thank you very much. thank you for the update and thank you for providing additional information. i appreciate it. and i think it's a good program. i think it's solid. most programs like this are all about having the right mechanisms in place to track and make sure that you can monitor it on a day-to-day basis in terms of collateralization with the currency going up and down all the time. >> thank you for the questions. >> president casciato: thank
you, very much. public comment at this time? >> clerk: thank you. moderator, do we have any callers on the line? >> madam secretary, there's one caller on the line. >> clerk: thank you. caller, please state your name, your two minutes begins when you speak. >> hello, this is claire again just in case you are wondering if we have a message from retirees to the board. first of all, i want to thank anna for the expertise but i also want to also thank commissioner bridges for her expertise on the board and what she brings with regard to the investment section and this is one example of where you really need the investment professionals and you need this person to be someone who is monitoring these systems and those how it works and can speak up like or get involved as commissioner bridges has done
and this points out to us the need for again, the separation of these two positions and that is all in case you are wondering, that's the only point we wish to make and to go forward with this very interesting program. but again, it is your fiduciary responsibility and liability with regards to this. please keep these positions separate. thank you. >> clerk: thank you for your call. moderator, are there any other callers on the line? >> madam secretary, there are no more callers on the line. >> clerk: thank you, there are no calls, public comment is closed. >> president casciato: if there are no commissioner comments, i'll entertain a motion. >> i will accept the report. >> president casciato: that's commissioner driscoll. >> i second. >> president casciato: commissi. roll call vote, please.
>> clerk: -- [roll call vote] cleve we have six ayes and the months passes. >> president casciato: that should conclude the action items e. is that correct? >> that's correct. >> president casciato: i just want to make sure from the commissioners, i know that commissioner alphonse as a hard stop but the other commissioners, i hope they can hang in as we get through the
presentations. thank you. >> i would suggest we go back to the beginning of the agenda item number 5, which is general public comment. >> president casciato: right. let's call general public comment. >> clerk: item number 5. general public comment. >> commissioners, we received two communications that were requested to be read into the record. one was an e-mail received from johnston son which reasons as follows. at your august meeting, you were elated that you have good investment returns. and i'm very disappointed your chief investment officer resigned. for the past 10 years, you board members and investment staff have done a good job at out performing public pension funds. if 10 years ago your chief investment officer custodian made a passive investment in the s&p 500, she would have a
one-year return of 36% and annual return of 15%. your former chief investment officer was hired in a bull market and he resigned in a bull market to go on to and he has dollar sign-in parenthesis greener pasture. you should offer to your investment consultant providing he would take a big pay cut. keep up the good work with best regards from john stenson. we received a letter referenced by our members of the public who have been speaking and that was the letter from john, president of the retiree employees of the city and county of san francisco
organization and we provided you a copy of the letter via e-mail and if you would like i could go ahead and read it into the record otherwise we will make sure that the text of the letter is included in the record of the meeting. >> i think we can include it in the text unless someone specifically wants it read. >> i hesitate reading it because it exceeds 150 words and generally speaking we limit written public comment to 150 words so, thank you. >> clerk: callers, press star 3 to be added to the queue. >> there's one caller on the
line. >> clerk: thank you, caller, state your name. your two minutes begin when you speak. >> hello, this is fred sanchez president of protect our benefits. i just like to say that i would strongly favor the current executive director and chief investment officer structure. they have excellent personnel both on the administrative side and the investment side of the house and hiring at the highest level from outside would be a real challenge as it's functionally wonderfully now so i see no need for change as pob we monitor more than just performance, we watch the allocation strategies and they change as investment opportunities change and they're very good at being adapting
their strategies and it's number one for a reason. it's because they continue to adapt to an ever changing global investment market. i think leadership needs to be creative and dealing with salary limitations and dealing with hr and with the charter. i know the trustees have a difficult decision and they're all well intended and they work very hard so, you know, i'm going to support whatever really turns out but i favor as the way it's going now. if it's not broke don't fix it and bill coker has done an excellent job and they developed good staff and you have someone
raise up to those positions and i think he just really need to act what is in the best interest of the membership and so, say want you to be flexible and think and i know you guys can come up with a good strategy to keep things going the way they are now. thank you very much. >> >> there's one caller on the line. >> provide your name. two minutes begin when you speak. >> i just want to back up everything that fred sanchez said for p.o.b. that is the same position that reccsf also is in favor of and we urge you to read our full letter basically it outlines some of the points i've already
made about the system. it's not broke. it's doing very well. don't fix it. and the fact that the positions need to be separate and we would like you to very seriously take our perspectives into consideration at this morning's meeting we had a number of reccsf meeting and we had our own members who used to do hr who came forward and commented on the fact that for their understanding and their experience, these two positions need to remain separate as well and they have looked into the charter language. so we are using our expertise within our membership and to review this and we strongly urge you all to consider our perspectives for the benefits of all members and thank you fred for your comments and thank you all of you for your time and dedication to these efforts. during covid, it's going to take longer to fill these positions, we understand that. we think it's worth waiting.
you'll look across that and on the next page you won't find a number where you're worse than number two so extraordinary performance . for the one year period your return of 30.7 percent was the top performing public funds in the investor. universe. by contrast a public phone was up 26.9 percent . calpers i would not suggest is a good comparison but they were up 21.3 and cal was up 27.6 percent . the most important comparison on this page is compared the returns with the assumed rate, 57.4 percent and you've significantly defeated your assumed rate invirtually every period . the second comparison look at your returns versus either an index 6040 portfolio or a 6030 10 portfolio.
meaning if you put 60 percent of your money in globalequity index , 30 percent in global bonds index and 10 percent in realestate , you will see again for every period shown here performance. if we look at five years for example you generated 13.98 percent per annum versus nine point 52 48 6040 index portfolio. that difference equates to roughly $5.8 billion in value because you've chosen to have a more diversified strategy than simply indexing thetotal . finally we don't control the markets but we do control how our portfolio responds to changesin the markets by our asset allocation strategy . we do select managers and we do tactically position the portfolioversus our long-term
targets .the policy index which is the second line on this page indicates the results we would have achieved if every manager met its benchmark and the portfolio was rebalanced continuously to target. so outperformance versus policy represents the value we created by choosing good managers or position in our portfolio slightly different for the long-term target. again, if you look at the five-year number 13.98 percent versus the policy of 10.93 percent, that difference in dollars is roughly $3.3 billion added through manager selection andpositioning .
we have chosen to have a diversified portfolio to achieve more consistent results rather than expose the portfolio to potential drawdowns in public equity markets. you know roughly 2 32 percent of our assets are targeted to private markets. we measure the consistency of the results we've achieved by standard deviation of realized returns. you can see in the tables to the bottom right the volatility of san francisco's portfolio is in the lowest 6 to 7 percent of our peers. that is very important when you are a fund that pays out more in benefits than you take in in contributions because you want to make sure when those bad times happen you don't draw the portfolio assets down to a point where they recover. finally we calculate risk adjusted returns by using the sharpe ratio which is simply the return minus the risk re-rate in this period is close to zero divided by the standard
deviation. so it's literally returnper unit of volatility results . your results ranked in the top two percent of the. so we've chosen to have a lower volatility portfolio and despite that in a period where marcus did well we generated extraordinarily high absolute returns as well as risk adjusted returns. if you go back to your fiscal year 2021 results, 33.7 result represents an investment game in the last year of 9.1 billion dollars. as of 6:30 your fund was valued at an all-time high of x .46 billion, up from 26 billion as of last year. as you know the market value of your assets now exceeds your actuarial liability . i've been searching to find out
how many others in this country haveachieved that and i can only find six .so again, the performance overthis period has been quite strong .the next page shows you the results for 15, 20 and 30 years and you will see virtually every time period you're in the top one or top two percent of yorkshire group. i'm going to pause there. that's the overview of compliance and how we achieve those results but any questions on those topline performance? if not ... go ahead >> president: anyquestions from any of the commissioners ? go ahead alan. >> if we go to page 13 this is the compliance page. numeric column 2 is the percentage of the portfolio
allocated to asset class as of six 30 and column number two is the long-term profit the board has adopted with column 4 and 5 showing theranges that have been approved . all your allocations fall within the ranges and are close to the interim policy target. the only exception is private credit at 2.75 percent versus an interim target of 54 below. that's an asset class that's been working hard to build up and private equity at 27.55 which isslightly over the long-term target . if we turn to page 15. >> president: alan, i'm sorry. one correction, private is at aboutfive percent . but the challenge remains there as the pool gets bigger we have
to come up with new investment strategies. >> the wonderful thing about private credit is you chose back in 2017 to move out of public fixed income markets which as you saw have generated two or three percent returns and you put that money largely in private where it earned 12 to 14 percent that's been a strategic move and in a world where we are concerned about rising interest rates , the measureof investment professionals in terms of sensitivity to rising rates is called duration . the duration of your private debt portfolio is in the neighborhood of 2 to 3 which would mean if you see a one percent increase ininterest rates , you'd expect to see a 2 to 3 percent decline in the value of your private debt portfolio which isless than the
yield . compare that with you put your money public fixed income, the duration of the bluebird is about 8.7 which is at an all-time high meaning if we were in public markets and we have inflation we could see as much as a nine percent lossin the value of the portfolio . not only has this been a good strategicmove to date , it positions us well should we se inflation which of course is beginning to show up . on page 15, you can see simply the growthin assets over time .
the fund pays out roughly 550 billion more in benefits that are contributed each year. that's typical for immature to fund benefit plan and it's why you have a pension fund. if you look at the three year number you've paid out almost 2 billion more thanyou've taken in but you've earned over $12 billion in returns from your investment program . it's worth noting if you were to divide the 550 million in the next payout by theseasset values , you would get a number in the neighborhood of 1 and a half percent, 1 1/4percent . most plans are up in the 2 to 3 percent range so your liquidity relative to your appears is strong enough to enable you to take on the risk of being in private markets . in terms of the next few pages i'm going to take you to page 17. these few pages show you in detail how you've performed versus your peer group so on page 17 that's the fiveyear chart. the vertical axis is returns .
we'dlike to be towards the top . the horizontal axis is the volatility of those returns. we'd like to be towards the left. every point on that chart is a public fund greater than $1 billion and you are the black square so you can see your solidly one of the highest performing funds in this universe and you've taken considerably lessvolatility risk than your peers . how did we get there? let me take you to one other chart and that is page 23. many of the numbers we show you are relative ending six: 30 and you have this phenomenon called the end period value. if you did well the last year it tends to mean you did well the last threeyears and last four years so on page 23 , you
can see your returns broken down by fiscal year for the last five years. and what is extraordinary is whether the markets were up or down, you tended to be in the top 1 to 2 percent with no worse from the top 30 percent from fiscal year 2020 which was decidedly downmarket so we've been able through selection and positioning to do well whether markets have done well which they have or not. on the next page you see the returns versus policy quarter by quarter. and that blue line is the rolling five-year excess return. clearly turning back at the fourth 1:45thousand 17 , that line is sloping upwards meaning you are consistently outperforming your policy benchmarks quarter in and
quarter out. that's what led a lot to the extraordinaryperformance . the charts on pages 25 to 27 c to decompose that outperformance to how much came from positioning and how much came from manager selection. again, in the interest of time if we go to page 27 and look at the five year results, you'll recall from page 12 your total fund return of 13.38 percent per year over five years exceeded your policy returns by 2.36 percent and on this chart been we decompose that into how much wasallocation affect , meaning overweight to asset classes that did well or underweight to asset classes that did poorly and how much of it came because you picked managers did better than their
benchmarks . so the allocation affect was .2 percent. you don't want that number to be too big because if it were it would say you're taking a lot of positioning risk and market timing but here again you see very consistent outperformance on allocation. more importantly the management selection effect is over 2 percent and that is not a fee. you can go down the list and in virtually every asset class a managers you've chosen have outperformed that asset class benchmark with the sole exception of absolute returns. i would remind everyone that the benchmark for absolute return is t-bills +5, a very aggressive benchmark and despite that you're only slightly under that. so again, it's gotten strong performance from portfolio positioning . the manager and has been
extraordinarily high. i would close by taking you to page 87, where were going to look in a little more detail. i'm sorry, page 38 where we will look more in detail on how you did by asset class. this page is a busy page but for each asset class we showed the percentage of theportfolio, the annualized return and ranking , thevolatility and ranking , the outperformance versus the risk taken called the annualized jensen out for and that ranking and tracking error which is the volatility of that result so similar to the sharpe ratio for your portfolio, the information ratio is the return or unit of volatility risk for the asset class and you see on the far
right when we look at asset class, public equityover five years you earned 17.26 percent . that was the top one percent of your peer group and it's also in the top one percent information ratio. here you will notice you took a little bit more risk in your public equity portfolio and the index butagain , you earned a very very high return. us equity tops 13 percent. developed market equity over the five years in the top half of some of the managers contributed to that result have been defunded so the nearer term results are a little bit better. emerging market equity topped eight percent, global equity topped eight percent essentially across-the-board in every asset class we've been choosing managers that have done better than their peers.
not as strong as the total fixed income level but much of that positioning of the portfolio and not manager underperformance and you can see emerging market debt is very well. high yield is trade a little bit burst versus the index. we have a more conservative portfolio. if we go to private markets, private credit on page 40. you've earned over five years 11.19 percent per annum, remembering if you look above that core bonds over that same period, the index has generated areturn of 3.4 percent so again , shifting your portfolio away from public funds to private funds as added an extraordinary
amount and thenversus your peers, top 13 percent in that category . private equity 23 percent per year over five years topped 16 percent. real assets, 8.36 percent per year. top 10 percent. so again, there's lots of data in the report.we do follow that a manager by manager level and i would say across your portfolio very few managers are underperforming benchmarks, the performance of your managers has been very strong and the positioning of the portfolio complements that. i'll stop there andbe happy to take any questions . >> anybody have any questions for alan west and mark. >> commissioner, i just want to raise one point because i want to tie it back into item number 10 on the agenda but the general question which you
don't need to take the time to answer now is a liquidity premium, are wecapturing it or not ? go to page 28 upper right-hand corner. the total fund overweight for the 10 years, the 10.41 number exceeds the policy by a great amountattributed mostly to staff recommendation for concentration and investment manager selection . very well done obviously but the number i want to point us to add to do with the 6030 10 benchmark number. the 8.17. obviously we beat that mark again, that was only 10 percent in that benchmark in illiquid investments with where we are running around 44 percent . which is a major contributor to the total policy index number shows that barrier has been paying off as well but i want to point out what is going to help in item 10 as we have these numbers in front of us
now. item 10 points out if we're going to have to increase the cash payout, we may be forced to shift money more from the illiquid to the more liquid public securities which can affect the rates of return so you hear just an example of how our policy is affected by the benefits that we are obligated to pay and increasing benefits which of course is the supplement so i want you to have an example in your report and eventually we will talk about the illiquidity premium, are we capturing that inour private equityportfolio and in our real portfolio and to a certain extent there's an assumption there should be some in the private credit portfolio but i don't know what that amount should be all good
points . >> thank you alan. i look forward to item number 10 when it comes up . >> public comment. >> pressáthree to be added to the queueare there any colors on the line ? >> madam secretary, there is one calleron the line . >> color, please state your name and you have two minutes to begin. >> this is rick sanchez, can you hear me west andmark . >> go ahead. >> trustee grisham's comments were righton the money . i look at the quality of these reports and i mean, i look at item 10, the liquidity management update .what an unbelievable report and all these quarterly reports, these
report shows you how wonderful staff and how ... i don't know, they must start beginning their reports for next month's meeting tomorrow because they're so in-depth. i strongly recommend if i take a supervisor to school day but you take the supervisor to the retirement system and you present them with some kind of simple, simplified way whether it's a powerpoint to just understand how complex the retirement system is so that they can appreciate the work that's done there and understand that what these people are doing for their own retirements but i can applaud staff on both sides ofthe aisle . you guys just produce really high quality reports and unless you take the opportunity to read through these, it's so
hard to understand the complexity and my hat is off to you. >> you for your call. moderator, anyfurther calls ? >> madam secretary, there are no further colors. >> hearing no callers, public comment is nowclosed . >> callthe next item please . >> next item is item number 10. discussion items, liquidity management update. >> commissioner driscoll hit on some of the highlights here. this update the board on liquidity and liquidity management at first is complicated for some of the reasons we just talked about. first it applies to private market strategies whichare illiquid , almost 30 percent of our assets, $15 billion are
currently invested in illiquid strategies and we have another eczema half billion of them called capital to support those existing investments and we don't control the timing of those capitals and on an annual basis as was noted previously we pay out about 500 million or 1.65 percent of trust assets to make the beneficiary payments every year. to date our liquidity position is quite strong . the fund exceeds both private markets and beneficiary payments but a newchallenge bloomed .somewhat ironically because of our strong results and much of it due to our investments inprivate markets . it's estimated we are approximately112 percent funded it you use our current discount rate . on the shows us in a report future employer contributions are expected to decrease by a
much greater magnitude and much more rapidly than we anticipated even a year ago. to the extent that the payout rates from the trust were expected to double within the next four years and triple over thenext 14 years , this of course has implications in asset allocations. the greater the demand for liquidity from the trust on the whole the less we can invest in illiquidprofits . the less we invest in illiquid markets orprivate markets , the less likely we can earn 7.4 percent so the bottom line is going to go through our liquidity positioning, our monitoring with kind of a long-range developing ways to monitor our liquidity . we've enhanced it by way of certain credibility, we're in good shape for what we know now but the new challenge is looming out there as potential contributions fall off during the next couple of years.
it does have real implications to all of us in terms ofasset allocation . i wanted to state that now and as a topic that will be discussed at some length but i would point it out now. withthat i will turn it over to anna to get into the details . >> good afternoon commissioners and beneficiaries and staff, consultants. it's interesting, thank you for the comment of the previous caller when you said we needed to start now. this ofcourse started three years ago when i joined . this is a long-termreview . we reviewed the liquidity position with more likeness as you will review theliquidity framework that i introduced years ago to the board . and working very closely with our consultants and associates,
many thanks to them for being very patient with us through multiple iterations with my team and our private investment team aswell as our actuary , jeanette who ran multiple scenarios to see what liquidity positions can be. i'm going to start sharing things. let me know if you see the presentations . this is the liquiditymanagement framework as wereviewed it . on the left , the first is to make sure we understand cash flows or private equity, relapsed as private credit in certain areas. as kurt mentioned, we on the
strategic asset allocation we allocate 43 percent. you will further hear kurt through the cio report where we're close to 45 percent allocation. now to list liquid asset classes where we can control the cash flow that we can't estimate and work very closely as i mentioned with multiple vendors and providers and consultants . i think we will review it later on in the presentation but we then moved to the third on the right-hand side and worked very closely with byron and jeanette to look at the actual assumptions and what does it mean for our, what we call mass payments for the payout ratio? what percentage of the trust do we need to pay and pension
obligations? not just today. we need to plan and plan long-term because a lot of depreciation that alan just showed came from private equity, venture capital which will take us potentially 8 to 10 years to harness liquidity. those two inputs go into this second little fellow where we review the asset allocation and i can't thank our board enough for the support last year to accommodate some of the leverage so that we can be much more double in terms of asset allocation and not fully fund some of the allocation to be careful with our cash management and also supporting our work with our partners and custodians to provide very beneficial credit facilities.
we also will reviewthe asset liquidity. what do we actually have ? in terms of available within a month, quarter or year and on the manydifferent strategies . last year we introduced what we call lcr and and lcr, that the liquidity coverage ratios that look at the three year horizon. but again, multi-year exercise. the one key take away from this page is actually very strong and the one that commissioner driscoll alluded to. the key take away from this exercise of the liquidity management framework i just outlined is that without changes to our actuarial assumptions , specifically to the discount rate assumptions,
that is one of thehighest . first, liquidity will diminish significantly when within 2 or 3 years and we will have to reduce the allocations, strategic allocation to private investment.that's the key take away is integrating the details of why and how and i'll walk you through it but that's why we rushed to put this in front of the board before you decide on the discount rate. so you could see not just jeanette's view which is very important and it works through a lot but the other side of the coin is theilliquidity . how much money is going to be counted for to save the pension obligations from the trust and what does it mean in terms of liquidity needs , not today but in five, 10 years and we have
to take alook at it . that's the most important take away from thispage . the second take away is that again, i've been looking at these plans and you will see we plan the liquidity with the previous cio. we planted it years ago and i'll show you how we've been planning for it so we have enough liquidity coming from private investments to pay the pension obligations. but again, if we don't change that combination, we will sacrifice that balance that we'vebeen planning for four years . for at least seven years. and the take away here is that it's very intricate combination because even though right now we, our private investment portfolio gets projected to be
self-funded, and market duplication we might need to raise $1.1 billion. and that's something that all staff knows from me and here's from us, from brady are wonderful investments analyst who does wonderful analysis on this. and myself, we sit down with public equity. public fixed income and absolute returns and we use their liquidity, what we call liquidity schedules. if wedo need to raise 1.1, what do we do? we presented to the board . so let's start with the details on the liquidity implication of our strong returns. let me first explain why we chose $3.7 billion versus 36.4.
we run this analysis a couple of months ago and that's when janet estimated that our liability discounted with 7.4 percent were 34.7 billion so we said we are 100 percent funded, our nad will be 30.7 billion dollars. we thought we saw the writing on the wall when we read this analysis and we said that's going to be worth $34 billion. what is the implication of being overfunded by 11.12 percent. what does it mean for our cash position and the employer contributions specifically ? these are employer contributions which are 100 percent funded . the and 80 of the founders is
exactly matching the liabilities when we estimated $30.7 billion. you could see that for example 2021, 26.9 percent employee contributions. already this year we're projecting24.4 going into the low 20s in the next few years , then high teams and then the low teens and 2035. very nice, low-grade diminishing. the next slide you could see in blue is what if our nad is $34 billion? they are 112 percent funded. what is the employer
contribution and the employer contribution goes to 5.7 in nine years and to zero in 14 years . that means more of the pension paymentsare now paid by the trust . what does it meanfor liquidity implications ? that's what we lookat . i'll skip this and go back to the next page. this is what it means for the trust in terms of payments. if we were 100 percent funded our nad is $37 billion you look at 2030 and in the year 2030 ournet outflow , the pension obligation is estimated $1.2 billion . we know that that number will come to that as we look at the projection that we run with our partners in cambridge and again, that is the number that we were holding for for a long
time. we were expecting to save$1.2 billion in 2030 . now, being at $34 billion without the actuarial assumption we're expected to pay $1.9 billion. so it's a huge increase of money, sent out on the trust. what does it mean to employer contribution ? here we responded to commissioners. i think it's commissioner task forces for different scenarios including different discounts. here we would take $34 billion and 84 a different discount rate. the dark blue is employer contribution ratesusing 7.4 . the orange is heaven .2.
the gray is seven percent discount rate and yellow 6.8. then the light blue going back to 7.4 discount rate but 100 percent funded at what our liability currentlystands . so you can still see the decrease on employer contribution as time goes by. but even if we go to seven point two percent, it doesn't go to zero. it still maintains the low teens and even lower than 10 percent in 7.2 and low teens of seven percent proposal. this substantially reduced from today's 36.9 but not to zero. what does it mean to our offsets?
to our contributions? you will see in terms of cumulativecontributions , they are paid out from the trust. if we don't reduce the discount rate, we are expected to pay $11 billion more in the next 90 years. $11 billion that will not be growing and need to be spent out. that's in addition if we were 100 percent funded. it's just because we are now overfunded and it gives us or gives the actuaries and their calculations enough cushion to say we don't really need this contribution . wecan take it out of the fund . however, when we reduce it to 7.2 percent discount rate it will almost still add more than
100 percent but we will pay over 90 years $6 billion. it helps us even more with liquidity and we will still pay more at seven percent but $4 billion more. and reduce it to 6.8, again more than 100 percentfunded . we pay $1.1 billion more 2019 but not where it starts to stray. let's look at this train of liquidity. it's an important page. here we are analyzing what is happening in orange when we are 100 percent funded so our nad equals our liabilities versus when we are 112 percent funded its $34 billion. you will see here that the next
annual payout rate that is how much money goes out of the trust to pay pension obligations in addition to the employee contribution. right now the onlyreasonable possibility is 1.4percent . in less than four years ,it will more than double . in less than 4 years this will more than double. in 4 years it will be already three percent and in 2035, in 14 years it will travel. it willmore than triple to 4.5 . spending 4.5 percent of assets out of the trust every year requires changes to the asset allocation.
substantial changes to the asset allocation. we cannot enforce the illiquidity that wetake now , the illiquidity premium that we think we believe by our investing dna face-off, we cannotafford to take itat 4.5 percent payout . we will have to change it . that's the slide that really the board approved current asset allocation which targets 43 percent private equity. in two or three years we will be over two percent. that's where we are. we are two percent from me access here, you see what our partners at blackrock call annual spending as percent of assets. right now we are close to two percent and planning. we are at two percent.
but we are going quickly for 4 and a half percent. that's the asset, that's the pension payout. on the y access, this is the estimate that our partners at blackrock investment institutes ran multiple simulations using our representative portfolio, private equity, real assets and credit and that's to say that we're comfortable with managing theseallocations to private markets . if we moved to the right in 4.5 percent allocation to private markets has to reduce tothe tune of 10 percent . so these are the asset allocation implications on liquidity and also the assumptions and we're happy to
run additional analysis to make sure that the board understands the implications of current discount rates to liquidity. next i like to review our previous one. what we've done previously and how much we are committing to these three private investment , private equity relapses in productcredit . last year especially in the beginning of the year we had to reduce the allocation because of the huge liquidity needs that we had to be ready. the market itself and now liquidity stands changed in the middle of the year so the last half ofthe year 2020 was better . last year in 2020 i'm in row
three we committed 1.935 billion dollars across our private investments which is much less that on average over the previous five years, 2015 to 2019 of 2.6 billion. we also in sending a lot of cash to our private investments we've been rebalancing our portfolio to invest more in private investments and over this past five years we've spent if you look at the bottom right number, 4.81 on average, $481 million to private over five years so it's a lot of money. a lot of money we were spending to seize the payout that we
were trying to accommodate. you will see, let me see if i can share. let me show you. cambridge's presentation, cambridge is available . do you have any questions? do you see this? okay. hopefully you see it. this is cambridge presentation that discusses the commitment for private investment. this is the overview of those details and we will also go through more details the investmentcommunity . next week . but here we are planning to commit next year $2.8 billion. so i'm on the top chart.
the blue line says this is the annual commitment, $2.8 billion across the asset classes. we project this stress test, here we go. we project 44 percent of total assets being invested in private investment.and gradually increasing the commitments over the years to 2030 will be almost $4 billion. now, we also project this year is the first year that we are hoping or planning and each case to be self-funded. we are projecting if you look at the details that private equity and relapses are now maturing and deploying for a long time seven years into
building out the allocation. we now are in the more mature and getting out of the wild private credit and it's still young and we feel it's best to commit quite a bit of cash. liquidity to fund the allocation. but next, self funding. and then the following year 2022 2023 will start seeing more distribution and base rates, if the markets are normal functioning.this is the 2030. by 2030 we're planning about 1.4, 1.3 billion distribution next distribution from our private investments. that's why what we were hoping for. we knew by then we were fully funded. that's howmuch we would need .
to spend the in pension obligations. however, as mentioned and because of our strong performance last year and because of our high discount rate, if we start reducing the employer contribution and getting more liquidity out of the fund, that will be one close to $2 billion, $1.9 billion that wewill need to send out, that's not enough . we have to start telling assets, rebalancing and we have to see allocation toprivate . so that's the best case and this stress case again, i can't thank cambridge enough for being patient with me because i'm detailed on this stress case to make sure that it is indeed stressful enough. in stress case scenario we need to stand up and be prepared to
take around $1.1 billion. i'm on the bottom right and on the bottom chart looking at the net cash outflow of 2021 2023. even if it's a three-year express scenario . indeed that's what we are solving for. again, i will go back to the the conclusion. and some other hopefully you see that's the details of kind of the highlights of our forecasting for payments of cash flows. $2.8 billion very robust commitment statements. they're improving our recommendation.self-funded programs in base best case,
worst-case scenario we are standard prepared $1.1 billion cash outflows to stress the annual scenario. so quickly, just tomake sure we do have leverage . these rates in terms of being flexible and liquidity and we do have credit facility which weemphasize . and the final bit here is the asset liquidity. we have a $34 billion on the management for each dollar. how much can we, is available today? we budget each of the dollars in this year and it'savailable within a month . within a quarter, within a year or will take us more than a year to get to review that dollar. and where very conservative and work with our partners at blackstone i'll turn it to asset management as well as
grady to prepare the analysis for all the asset classes. so again, very good. the analysis is that we are in better shape now. in either one, within one month more than billion dollars available and within one year is $10 billion. next we stress test. what we call one standard deviation is what an adc provides us as annual expected volatility. for example annual expected volatility for public equity is 18 percent. that means that we take all our assets in public equities and reduce it by six, by 18 percent. annual expected volatility for our treasury is four percent. we take intermediate treasury
at the same time,color and correlation one reduce it by four percent. or liquid , the percent annual volatility, reduce it by eight. absolute future, 11 1/2, reduce it by 11 and a half percent and then what's available. at this time in this analysis $5.3 billion stillavailable within one month . and within a year 13.8 billion. next we run two standard deviations so now we share or reduce the available cash flow from public equity by 36 percent . we reduce treasuries by eight percent. we reduce our absolute returns and these are the buckets here, the absolute return by 23 percent and still see what's available when. and again even in this strong stress test we have over 4 billion, 4.4 billion available
within the law. so we do have positions liquidity. and finally, theanalysis , what we call funding liquidity this last year where we look if you look at the formula on the top, but with financial assets is exactly what we justdescribed. and reviewed . then we look at that's over three years so what'savailable ? now we can roll it over three years, then the distributions from private assets or liquid assets over three years and the employer contributions and employee contributions that's the money coming in . we have the financial assets. have the distributions from our private managers coming in as we also have employee contributions. that's the what's coming in.
what's coming out? these are benefit statements, our pension statements and capital calls to private equity. so look at the all scenarios. the ratio is that we don't have to sell assets. that means we are adding our liquidity. we stress test this liquidity ratio lpr by stress testing this liquid financial assets but also stress testing the distributions and capital calls. and the results are on this page again, many thanks to our investment analysts freddie who ran this analysis. you will see that in each case we are well over one, there's 2.33 and then if you look at the right lower right-hand
side, the colors talk about the stress to the financial ask so one standard deviation, two standard deviations of volatility. and the row uses hemorrhages stress case assumptions when we don't get that much contribution, distribution from managers. we don't get the contributions from private but we still have to stand out money ascapital . and in all those scenarios, you will see that the ratio is about right. i will skip the analysis part, modified liquidity ratio but i will tell you that inthis case there will be , if the ratio is less than one it's will be selling risky assets like public equity and absolute returns but also the contributions are risky assets
so they're not that concerned but we dolook at that scenario . and i would like to conclude with the analysis that commissioner driscoll asked us and i work with jenna to revie . if you look at the table on the left-hand side, you see the first column is the discount space. and then the next column is what does it mean in terms of actual liability? at 7.4 hour liabilities, liabilities are $30.8 billion. at seven percent hour liabilities are $32.2 billion. 6.4hour liability is $34.5 billion . that's what we had at the time. we ran it even more so five
percent discount rate. that actuarial liability is $44 billion our assets are still at 34.5 and there only 85 percent funded. we see this at five percent discount rate for only 85 percent funded. and in fact, five percent is what an adc expects to be returned over the long term for high-yield. and in fact, an adc's expectations for public equity is less than 6.2. less than 6.2. at 6.2 we will not be fully funded. at 6.2 percent which is expectations, long-term return
for public equity , where not going to be fully funded. coming back to commissioner driscoll's question which was about now that we're fully funded , what about immunization? for full immunizationmeans we have enough assets . we could buy immunity versus those assets and we don't have to invest. well, our duration, the duration of our liability is about 12 years . so if you look at the immunity available right now for the 12 years and as of june 2021, janet estimated that the immunity will provide 2.58 percent. at 2.58 percent we are nowhere close to being fully funded.
so that's the answer. to commissioner driscoll's question on his immunization about the assets that i like to see if the commissioners have any comments, questions and anitaand the whole team from cambridge is available to answer questions . >> anybody have a question for anna? thank you, that was a very excellent presentation. public comments please? >> a reminder to any callers to press star three if you need to be added to the queue. any callers on the line western mark. >> madam secretary, there are
no callers on the line no calls public comment is closed. >> i would like tomake 2 comments . >> go ahead. >> thank you very much for you presentation . allthe graphs , tables and charts. major points. and thank you for the immunization question which i'vebeen asked the last couple of months . it's a significant thing for others to go through but we are far away ready and it's something weneed to look down the road in terms of protecting the city's other interests as well .secondly, this issue of connecting the liability side of the operations to the assets and investment operations, ver well done . thank you. this is something that we trustees fiduciaries must understand both sides of the equation. not simply is wonderful to make money and the rates of return how is connected to the
liabilities, the contribution rates and all the other assets is something we mustdo so why we don't take on the wrong risk at the wrong time . >>. >> bank you with all the assets, that's a very scary part. we're on the line, thank you. >> next item please. >> item number 11, discussion item. annual review of the security funding for the fiscal year ending june 30,2021 . >> introduce and handed over to anna. they noted in the afternoon we reestablished the full ground in 2020. the features we discussed are quite important in of
indemnification, we separately managed accounts and made conservative investment guidelines that fit with money market funds. next fiscal year we earned $2.6 million in net revenue with the utilization rate of eligible assets about 28 percent which is higher than our expectations in 2020 and asked, noted we did successfully establish a $250 million cash relief credit facility which gives us more like ability to manage liquidity anna is going to get by mike mcinniswho joins us from his basement and mike, i know it's late but thank you for hanging out and i'll turn it over to you . >> thank you curtis and thank you mike again for yoursupport here. let me share again and walk you through the highlights . as greg mentionedin january 2020 , the retirement board approved staff recommendation
to initiate securities programs. with our custodian being melon, we reviewed these features of the program, the jewel indemnification in terms of the counterpartyreports , it we landed securities for non-cash, that's one indemnification than in our cash collateral account if the counterparty is the re- purchase agreement counterparty, they also indemnify. so that's the jewel indemnification. as we discussed with commissioner bridges we were specific not to commingle any cash that we receive as collateral and in a separately managed accounts and managed to do very specific guidelines which we major ourconservative . and in line with those that govern mutual money market funds. and we begin operating in february 25.
20/20 so we actually quickly add to mature and learn so even though it's a new program we've gone through quite a bit and as we covered last year we've got some people that we didn't even notice because of how we're managing the over collateralization and be gone through a number of credits, downgrades that also we're not on our past collateral was account. this year was karma. we as initially resented by curt and myself last year we were planning to to $3 million revenues. we had 2.6 over 2.6 million this fiscal year. again, in line with what the estimated of six point 6 billion land of all securities and art utilization work actually both 28 percent.
the rates are low as we discussed in many cases are negative but the spread is what we are looking for and we gained 22 data point spread so that's why we refer to spread but it's actually the return in revenue that we get. and the change is six basis points that went for one cash lending and six basis points from reinvestments on our cash collateral accounts. that's on what's actually neutralized but if we look at the what was available to be like it's 26 basispoints returned . the non-revenue piece that is still very important part is development, is that we established a cash relief credit facility from our cash collateral which we do not take
if we don't neutralize it. it's $250 million and we tested it in june from june 11-24. we borrowed 50 million and we paid less than one percent as expected of the total cost of 63 basis points.we continued to look for additional ways to broaden the pool of available livable securities as increased utilization. we added each year to the pool of acceptable collateral and thank you for just approving additional recommendations to evolve our security funding program. briefly, so these three tables that i like to review . first table talks about quarterly earnings . you will see 2.6 million and
you will seethat the last quarter , last second quarterof 2021 was the most profitable . that's due to european equitie , european dividends being back and european equities lending facilities back in play which was notthe case last year . this is the second table which talks about utilization across certain asset classes. you will see the strongest utilization of treasuries at 60 percent. then equities at 22 percent. with total average utilization of 20 so out of 6.6 billion, 1.8 was less. the last table i'd like to see where we are getting the revenue and most of it is
coming from our lending to us treasuries and equity. you see most of the revenues came from treasury. so that fiscal year as i mentioned, past collateral drove most of the earnings. cash collateral reinvestments on that view to the demand for securities, the volatility came down and the markets were much called her as quoted, as was more manageable compared to 2020 and there was real but also gary supported that policy. we also saw as i mentioned the u.s. treasurybeing in high demand . that's due to expectations of
rising rates. as we open, that's helped us in our treasury being in demand and we also saw a revival of european dividends. dividends and as a result more dividend arbitrary strategies being engaged in where able to lead our securities. you will see again a breakdown of our returns or revenues. this is our quarterly utilization. you see an increase in the last
quarter this is the spread earned every month and that's going back to commissioner bridges question. we earned on lending this year but it's mostly theinvestments . and the review has a 30 of our securities lending portfolio but let me show you here. our cash collateral portfolio at $717million , and cross 3000 loans. that was against the security plan, up 2 billion.
so a very mature program. i'd also like to highlight how conservative bny mellon is the non-cash flows are over collateralized overnight percent over collateralization in addition to the markets . quick overview and we seen it last year that the reinvestments are down in last march. in fact when we started the program they were at 44, 45 percent and now it's 13. so a third of what we forecasted and we're making good revenues from the program. all also how conclude with a key initiative thisyear . where working closely with bny
mellon and our attorneys. they are very helpful to see if we can increase the utilization of our fixed income portfolio even further, if bny mellon sees a clearing which is the fixed income clearing corporation, that's when we will increase the utilization or the rate of lending to allow portfolios. we are also looking at different, expanding the range of equity indexes that weaccept as collateral . the board has approved the changes to accept investment-grade bonds as collateral for a purchase agreement as well as zero pounds ifcollateral to increase utilization of our european equity trades . we've been very impressed with
the development and initiatives that we've seen with bny mellon who are enhancingtechnology . the digital team is one of the best. they have a digital team in palo alto that developed models that predicted rates for equit . on the curve they understand what can be in demand which can receive higher borrowing rates. they can also see settlement traits for usequity . with thati'll conclude . mike is from bny mellon and he's available for any questions. i also will be happy to answer anyquestions . >> any questions or comments? >> i have a quick question if you'reopen to the question .
i know you added eps to the pool of collateral and this is just a regulatory question for me but i'm going back to my record. did the sec approved equity as collateral or isthis just from the european ? >> it's still just the european side. we were hoping for everyone so stay tuned but that's certainly on the military. >> it's been on there for a decade.i've been there for 10 years and it hasn't been approved so when i saw this i thought maybe just something. >> it's just positioning well for that and also being able to takeadvantage of theability to find us broker-dealers . >> they still have a restriction in four nonequity . i was wondering why you would do that so how many approved europeans did you have on the
docket for the program? >> off the top of my head i know we lend to about 75 different ones. i don't know exactly which ones traffic in which collateral types that's the upper amendment you would be looking at. >> that was my regulatory questionbecause i've been attending themeetings and i like , it's not approved yet . that's important. so if you could post on that because i know it's been onthe docket for a while . >> thatwill be a big deal and i'll be happy to share that . >> house shifts to that one. >> we are ready for thatand we will simply update the board as soon as we can . >> i think it's important for people to know because a lot of collateral on programs, but their limited in what they can take . there's all these securities
buteuropean brokers have more latitudein what they can do . i think that's important to make the distinction . >> thank you. >> any more questions or comments? otherwise we can ask for public comment and moved to the chief investment officer reports. >> reminder to any colors, please press bar three to be added to the queue. moderator, arethere any quality colors on the line ? >> madam secretary, there are no colorson the line . >> .no calls, disclose. item number 12, chief investment officer reports. >> president: did we lose her?
>> i see a yellow triangle up in his name. can anybody from staff take his report? >> i can take it. >> go ahead. >> the actual performance was covered by:, thank you very much for that. so i will not cover the performance. we will, i believe we need to read the disclosures. >> the disclosures,yes . subsection 3. >> i came to the office specifically on the bandwidth.
i'll be very quick here. i'll put my quick update on performance, board approved investments in the committee meeting. in august we hadmade our returnsfor the plan , approximately 2.2 percent . all classes were positive led by real assets and public equity through 2.7 percent respectively . private equity and private outflow were around two percent, fixedincome and absolute return for up . calendar year we are up over 17 percent, 17.6 percent. led again by private equity and we can expect results on a real assets, public equity and private credit which is each posted to double-digit returns so so far this calendar year. for reference a 6040 portfolio and a 6030 10 portfolio have returned just 7.7 percent from 9.83 percent respectively.
at the end of august our estimated assets are $36 billion. beginning next month the third month into the new fiscal year i'll begins report onfiscal year results but they are up around 2.7 percentfor the fiscal year . in terms of board approved investments , feel free to announce our meeting july 13 2021 retirement board approved in closed session and investments of 3 million in harry's credit strategies fund. that investment closed on august 11 and the investment is classified as a global senior debt investments within our program. next at our meeting on august 11 retirement board approved in closed session and investments of up to 40 million to classic investors. the first commitment of 8.5 million closed on august 13. investment fits within our real asset portfolio and occurs and investments with the june partners and finally at august
11 meeting , the board approved in closed session an additiona commitment of 200 million to san francisco asia investors . they had committed $600 million to the report in 2014, 15 and 17 and 18. the additional investment of 200 million closed on august 2 , this investment is defined as a growth equity within the first private equity program. next in august we began to recruit for a senior portfolio manager for the buyout portion of our privateequity program. i concluded a link to that particular post but i think in fact we may have closed that recruitment approval . we will have to share in the month ahead and i am hopeful that it certainly in the next several weeks that we will begin active recruitment for some of the positions that were included in our new budget so the board will talk about their
in theweeks to come. finally we have to investment committee meetings scheduled next week . we will have onseptember 15 we will do asset class updates for private equity . realassets and private credit . those were updates thatwere postponed , we were going to do them in july and understandably those were moved. most of the portfolio data will be on the december 31, 2020 but we will get updates through march 31 as well. then finally, we have established a second investment committee meeting september 17 at which we will talk about the investment implications of regulatory changes that we are observing in china so we're developing a program from that . i'll stop thereand turn it over for any questions .>> any questions from the board or any comments? can we get public comment? >> do we have any colors on the
line?>> madam secretary, there is one caller on the lin . >> caller, please state your name and speak when called upon c8 this is fred sanchez from protect our benefits. i don't need to comment on every single board.today is a verygood day for everybody who reported. excellent report which shows you the strength of staff there . i can't say enough but today was a very helpful commentsfrom the trustees as well . i mean, the trustees show their knowledge that they're just not rubberstamp or, that they have a full-blown understanding aboutwhat's going on . very impressive but in my life , my partner, if i don't set down by 6:00 i'm in big trouble so i'm confident that the rest of that meeting will go as well as the first
part of the meeting and thank you all for your tremendous effort and everything you guys do to make the season what it is today. >> thank you for your call moderator, any further calls . >> madam secretary, there are no further calls. >> public comment. >> item number 13. >> item 13, discussion item, san francisco deferred compensation plan monthly report. >> thank you very much, good afternoon or good evening now. and you hear me okay. >> we can hear you fine. >> okay. i'm aware of the hour so i will try and make this as brief as possible. it is a monthly report and they generally are shorter but
before you is the monthly activity report. if thereare no questions on that specific reports i'd like to share a few other updates with the board . >> go-ahead. >> next month as you know in october it's national retirement security month. used to the national retirement security weeks but in 2020 congress amended it to a whole month to reinforce the need for americans to have financial security in retirement. the sfs he is proud to announce a day and play campaign and all active participants willreceive a direct mail outlining the plan in place details in late september . they simply need to complete 2 tasks such as attending a webinar, increasingtheir
savings, being a counselor and they will be entered to win a fun weekly prize . we have great prizes this year such as a barbecue vest or a kenneth cole suitcase. the first 100 to play will receive an insulated stainless steel travel mug. all cps at employees that are eligible for the plan and participate soplease spread the word and tell your colleagues . we look forward to their participation. we're also working with other departments to feature national retirement security month in their communications. edition eight email campaign will begin october 4 and will feature a different topic each week such as using tools to find out how much more to say now in order to lessen the income that in the future. all campaign art was still in progress boardmaterials were
>> i can cover this is commissioner stansbury is no longer online. the committee met on august 20th. they approved the minutes of the july 22, 202 meeting and held a closed session to meet with me to review goal setting between now and the end of the year. with that i will be happy to answer any questions. >> thank you very much. anybody have a question? if not, public comment. >> thank you, moderator, any caller on the line? >> madam secretary, no caller on the line. >> thank you. public comment is closed. next item. item 19. discussion item. executive director's report.
>> commissioner, i know the time is late. i had two items to report on. last month i indicated our government consultant would circulate to board members self-evaluation survey. she is proposing a new format. we have decided to put this through governance committee before the board. we are hopeful they can hold the meeting to review this material and so i want you to keep your eyes open. also, on behalf of the government consultant, ashley wants to thank board members for responses to genet braselton, performance evaluation survey. she will prepare a report on the aggregate results of that
survey. last thing to brief the board on was an update on our office return to office plans. previously i announced the city was urging us to actually return to in person work this week. the week of september 6th. with the delta variant and the indicators in the city with this new variant as well as with the approval of the pfizer vaccine for nonemergency use, the city has urged the departments who have not yet returned to in-person services or having staff come in regularly to the office, they have asked us to coordinate with the november 1st date, which is the date by which
all city employees must be vaccinated. we have been working over the last few weeks to modify our return to in-office work to coincide with the november 1st opening. originally, the city announced that the 100% tele commute policy was going to be ending in september, the first, well, the week of labor day, this week. they delayed to november 1st. what we intend to do is we have notified staff that they have a few more months to work remotely and that we will be calling everyone in. i think i shared the city's requirement is that all staff must conduct in-office work at least two days per week. we had prepared staff to start this week. now it is pushed to
november 1st. we are also working on what our in-person services are going to look like. the doctor director mentioned the counseling services for in person. we are doing some building and space modifications on the fifth floor to accommodate safety concerns of staff as well as members. we anticipate that we will be opening on a limited basis starting off at least on limited basis to in-person services the first week in november. the other news i will share is that there was some concern in that the state legislation, i believe, that allowed for boards and commissions to participate in board meetings remotely was set to and is set to expire the
end of september. there was some confusion related to whether commissions and boards such as retirement system would have to return to in person board meetings in october. we received notice from the city that the mayor's emergency order is what allows boards like the retirement board members to participate in a board member remotely and that the mayor's office has no plans to redidn't that order before november 1st. for the time being the october board meeting at least will be conducted remotely and will have more information by next meeting as to what longer term that is going to look like because many of you are aware that there are a lot of space modifications we need to make to our boardroom in
order to safely bring all board members back into the room, and we want to ensure the safety of the board members. obviously, the impetus is to allow the public to be in the same room as the decision-makers. the models we are looking at would be just board members returning, staff continuing to present remotely, having members of the public to be in the room to provide live public comment to the board but we hope that is going to be -- we will have a few more months to plan that out. in the meantime we have placed orders for air purifiers that we believe are sufficient to provide protection in both the public areas and the boardroom areas. we will provide more information. as of right now we know that there will not be in-person
board meetings before november of this year. with that i will be happy to answer any questions. >> is it open for questions? >> i think so. i asked for questions. >> the question is and you are right about constraints in the building. not only just ventilation but bandwidth there are banned width issues in that. >> we are working on bandwidth issues. i used to come in the meetings with you. >> i know. >> with also president dristol. we are asking the city because they provide wi-fi we are asking to enhance cape abilities and looking at health requirements for the room.
we cannot open window in the boardroom and don't believe there is adequate air circulation provided by the building and we are leasing the space that we have not that much control over air circulation. the health order provides if we have sufficient air purification systems in the room that would meet the health requirements of the department of public health for calling back. again, we want to look at it very carefully and if -- staff can participate remotely. no problem with that. if, in fact, the emergency order is lifted, it would prohibit board members from participating remotely. we are focusing on what it would look like spreading everyone out in the room and again having no control of the number of public but making sure that the board was protected from the public and the public was protected
from themselves and the board and make sure we can maintain safety. there is a lot of logistics to be worked out. we are also looking at alternate locations. that is not necessarily that convenient. certainly, i think the precursor what anything will look like is the board of supervisors. they currently have the board members in the chambers, which is a much larger space than we have. there are no live comments. when we see what they do to accommodate live public comment, i imagine that will happen before we would need to do the same thing for our board meetings. >> that is the model i have seen. that is why i asked the question. >> i think they have better band
bandwidth. we are trying to make sure that we have seven floors and we have, you know, three floors, excuse me. we have two, two zones wi-fi zones on each floor, not sufficient to accommodate live streaming of the meetings for more than a handful of people in the office at the same time. sort of scheduling people. their usage for works. it could be that on board meeting days we don't have regular staff in the building using the wi-fi to do their work so a lot of those logistics we have to work through among other things. safety and bandwidth are at the top of the list. >> question about providing service to members. june is the month where the
analyst and retirement counselors are working nonstop. they are busy all year long. this covid issue and the city policy regarding qsr, i assume you are getting many phone calls for appointments. i get the occasional phone call and tell them to call retirement system. is the retirement system and analyst on staff prepared, gearing up for more work in the next several weeks in case people are informed they are going to be separated? >> thank you for giving us is heads up. we had been aware of a septembet some first responder employees had been given as far as needing to be vaccinated by those dates. i had my meeting yesterday
afternoon with karen. we talk about it every week. she hasn't notice an appreciable uptick in the number of requests for counseling. what we have actually done is brought back two former retirement counselors who have retired. michael and diane. they have agreed to come back to help us as a employee. we are able to ramp-up volume of services if we would need to because we have additional staff in addition to the regular counseling staff. we have tried to be a prepared for that as possible. karen may be able to speak more on it. we discuss it every week and have been watching for an appreciable uptick. this would be unusual in september. most of it is in july and june. i don't believe we have seen any
significant increase in the request for services. >> thanks forgetting ready for that. i think an issue is more questions are being asked than answered. not by the staff. people are trying to figure out what the new rule changes are. i am grad you are ready for a possible flood. thank you. >> one question. is there a possibility of the remote at all? that was one of the things this cio asked for, bill asked for in the last review. curious if we were to attract good talent is that a possibility? >> i believe for staff there is not a legal requirement because they don't vote. really, a lot of it is in relation to public access to the
decision-makers. staff is notes considered a decision-maker as far as this retirement board is concerned because they don't vote. that is why we are undertaking a model where the prohibition was always in place that board members and commission members could not call in or attend the meeting or vote in the meeting remotely. that was the long standing prohibition which was lifted during the pandemic just for the stay-at-home order. as long as that emergency order is in place, we can continue the current be model. going forward until we have sufficient space where staff feels comfortable and safe coming back into the office and attending the board room. you haven't been on the board but we have had meetings where we have had and i don't know if
you have seen the boardroom. we have a very small capacity board room. it has been packed with people want goes to provide public comment to overflow to the reception area. we hope we don't have another topic to bring that much interest, but we want to be able to provide for the safety, mostly of the board because i believe once the order is lifted that board members will have to be in attendance at a board meeting in order to vote. that is the way it was before the pandemic. staff and having investment staff present to the board sitting live in the meeting is not technologically an issue. hopefully we will be able to work through that. i will say that for the existing staff, investment staff as well as staff across departments we
have had no person huish shoed any -- no one with objection to working two days a week. that is a city rule that prohibits someone from working 100% remotely. there are ways for departments to request exemptions to that, but so far we have not had any of our investment staff or our existing administrative staff request that type of exception. i don't know how the city is holding firm to rules to bring people back to the office so i am hoping if, in fact, this turns out to be longer term there will be reasonable accommodations for, like you said, some folks who, you know, would be willing to work here as long as they could work almost
exclusively remotely. as far as staff having to come to board meetings, that is not a legal requirement. i will say that the city is also in the pandemic a lot of folks had relocated because they were working remotely, 100%. they relocated out of state. the city has taken a pretty strong stance on for various tax reporting issues all city employees have to have a california residential address or they are going to be terminated. a lot of folks are having to relocate back to california or at least establish residence in california. the city is coming across in different be ways to try to bring everyone back, but i am hopeful that if we had, like you said, an investment staff member who it was not necessary for them to be in the office and
could work almost exclusively remotely that there would be some sort of accommodation the department could request. >> that is helpful. >> more to be seen as this unfolds. like i said, everyone has gotten used to and i will say i appreciate the resilient city of all of our staff, investment as well as administrative staff since the pandemic and since we were sent home in march last year. the resilient see to go uninterrupted to make sure we could continue providing member services as well as all investment work. it will be interesting to see. there is a travel ban in place, meaning that our staff, our investment staff and board members used to routinely go to a lot of conferences and travel
and attend advisory committee meetings. it is going to be interesting to be what the industry structure is going to look like. i believe our staff continues to attend advisory committee meetings but they are all remotely. i am not sure there is much appetite for them to again be in person meetings. we are watching that trend very carefully also. as you know, most of the opportunities that the board members have for attending conferences they continue to be virtual. we are starting to see hybrid models offered and it is going to be interesting to see what the demand is. certainly, from a budget perspective travel and accommodations are a large part of our investment budget and if, in fact, all we have to do is
find bandwidth that would be much cheaper in the long run. >> thank you. anything else you have or any more questions of jay? i think we reached the magic number. i only see item 20 left. >> that's correct. >> public comment? >> thank you. reminder to callers to press star 3 to be added to the queue. do we have any caller on the line? >> madam secretary, there are no callers on the line. >> thank you. public comment is now closed. next item. 20. discussion item. retirement board member good of the order. >> anything from any
commissioners? >> i would like to thank all of the staff that hung in there today and thank you for your patience and consultants thank you very much. i appreciate anything. if there is no further business at this time, we will be adjourned. >> public comment before adjournment. >> do we have any callers? >> madam equity, there are no caller on the line. >> thank you. hearing no calls, public comment is closed. >> thank you very much. we will consider ourselves adjourned. thank you. good night everyone. >> thank you all for your time.
corridor which locals have affectionately dubbed the castro. a cross between castro and gastronomic. the bakery, pizza, and dolores park cafe, there is no end in sight for the mouth watering food options here. adding to the culinary delights is the family of business he which includes skylight creamery, skylight and the 18 raisin. >> skylight market has been here since 1940. it's been in the family since 1964. his father and uncle bought the market and ran it through sam taking it over in 1998. at that point sam revamped the market. he installed a kitchen in the center of the market and really made it a place where chefs look forward to come. he created community through food.
so, we designed our community as having three parts we like to draw as a triangle where it's comprised of our producers that make the food, our staff, those who sell it, and our guests who come and buy and eat the food. and we really feel that we wouldn't exist if it weren't for all three of those components who really support each other. and that's kind of what we work towards every day. >> valley creamery was opened in 2006. the two pastry chefs who started it, chris hoover and walker who is sam's wife, supplied all the pastries and bakeries for the market. they found a space on the block to do that and the ice cream kind of came as an afterthought. they realized the desire for ice cream and we now have lines around the corner. so, that's been a huge success. in 2008, sam started 18
reasons, which is our community and event space where we do five events a week all around the idea of bringling people closer to where the food comes from and closer to each other in that process. >> 18 reasons was started almost four years ago as an educational arm of their work. and we would have dinners and a few classes and we understood there what momentum that people wanted this type of engagement and education in a way that allowed for a more in-depth conversation. we grew and now we offer -- i think we had nine, we have a series where adults learned home cooking and we did a teacher training workshop where san francisco unified public school teachers came and learned to use cooking for the core standards. we range all over the place. we really want everyone to feel like they can be included in the conversation. a lot of organizations i think which say we're going to teach
cooking or we're going to teach gardening, or we're going to get in the policy side of the food from conversation. we say all of that is connected and we want to provide a place that feels really community oriented where you can be interested in multiple of those things or one of those things and have an entree point to meet people. we want to build community and we're using food as a means to that end. >> we have a wonderful organization to be involved with obviously coming from buy right where really everyone is treated very much like family. coming into 18 reasons which even more community focused is such a treat. we have these events in the evening and we really try and bring people together. people come in in groups, meet friends that they didn't even know they had before. our whole set up is focused on communal table. you can sit across from someone and start a conversation. we're excited about that. >> i never worked in catering or food service before. it's been really fun learning about where things are coming from, where things are served from.
>> it is getting really popular. she's a wonderful teacher and i think it is a perfect match for us. it is not about home cooking. it's really about how to facilitate your ease in the kitchen so you can just cook. >> i have always loved eating food. for me, i love that it brings me into contact with so many wonderful people. ultimately all of my work that i do intersects at the place where food and community is. classes or cooking dinner for someone or writing about food. it always come down to empowering people and giving them a wonderful experience. empower their want to be around people and all the values and reasons the commitment, community and places, we're offering a whole spectrum of offerings and other really wide range of places to show that good food is not only for wealthy people and they are
super committed to accessibility and to giving people a glimpse of the beauty that really is available to all of us that sometimes we forget in our day to day running around. >> we have such a philosophical mission around bringing people together around food. it's so natural for me to come here. >> we want them to walk away feeling like they have the tools to make change in their lives. whether that change is voting on an issue in a way that they will really confident about, or that change is how to understand why it is important to support our small farmers. each class has a different purpose, but what we hope is that when people leave here they understand how to achieve that goal and feel that they have the resources necessary to do that. >> are you inspired? maybe you want to learn how to have a patch in your backyard
or cook better with fresh ingredients . or grab a quick bite with organic goodies. find out more about 18 reasons by going to 18 reasons.org and learn about buy right market and creamery by going to buy right market.com. and don't forget to check out our blog for more info on many of our episodes at sf quick bites.com. until next time, may the fork be with you. ♪♪ ♪♪ >> so chocolaty. mm. ♪♪ >> oh, this is awesome. oh, sorry. i thought we were done rolling. ♪♪
>> supervisor walton: good afternoon. welcome to the september 7, 2021 regular meeting of the san francisco board of supervisors. in celebration. madam clerk, will you please call the roll. >> thank you, mr. president. supervisor chan. >> present. >> supervisor haney. >> present. >> supervisor mandelman. >> present. >> supervisor mar. >> present. >> supervisor melgar.
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