the size as you can see after the financial crisis in 2008 and 9 we were under $12 billion as a large july 1st, 2014 we were at $19 billion and i'm pleased to say we're at $20.7 billion in assets we have a fund level of 94 percent and improved with a 18.7 market rate return for 2013-2014 and the market rate funding level improved to 94 percent which is among the best in the united states we have an actualy value of '85 percent they've assuming last year, we crossed over and have now actual assets then to

invest the tyranny funding level is healthy among the pension fund this retirement board administrators the comp program a significant program a large program it is $2.8 billion we have over 15 thousand plus folks that are telegraph hill contributing to the accounts program that's an increase over 14 hundred from over last year that is an indication of even with the cost sharing of contributions on the defined benefits side people understand the importance of this source of retirement income we're proud of the participation on the deferred comp program i've mentioned we're part of the 2 year budget cycle last year i'll

remind the committee that all expenses related to the administration of s f the benefit plan is paid out of the funds no general general fund and the costs of administering the city's comp program are paid through the third party administrator and no general fund monies are sued u used to support those programs highlights our budget is decreasing by over $2 million from the current year's budget for the there the result of one time costs associated with the move not being in our next year's budget we successfully moved in october to our new location on market we've seen an increase in the visitors we've significantly improved in particular the counseling areas and very proud of our new

location other significant development is we rolled out earlier this year a new website for the first time gives members 24/7 for active members through a portal and assess their account balances and put a calculator on line people can use the real information or for future retirement and see what their benefits would be this is something our members have been waiting for we're proud to implement that for retirees they go through the is that you through a portal and he mayor monthly benefit payments we're pleased with the rollout and successful implementation and we've gotten good feedback over the roll out of the new website

also as part of what was discussions last year we are at the new location able to have sfgovtv record and make available all our rent board meetings on the website they're not televised live i'll be happy to answer any questions but thank you to the mayor's office and the board of supervisors. >> thank you, mr. jewish supervisor mar. >> thank you. i want to say i appreciate the new location is great and the meeting space and public assess and the forgiving and having the recordings valuable of the meeting is important i appreciate that supervisor avalos asked me to address a few questions he and 3 deputy bay area.org campaign

more of a donation wade to devest from the worst of the worse and the existing fuel companies i know that's been an issue with our board i wanted to know if you can give us an update on what the board and your office has done to address the issues raised last year. >> certainly thank you for the opportunity. >> over a year ago in february of last year the retirement board agreed to adapt a level one of the carbon track of the companies which meant we're monitoring how we voted our properties recommended to climate risk issues earlier this year in march the retirement board voted to engage the fossil

fossil to try to influence the corporate governments around climatic change issues the organizations we're joining filed 4 hundred and 37 climate risk. >> what's the organizations. >> series and we are investing in a network for climate risk rnc they revolting represent over one trillion conflict of interests. >> i nc r is an investment group. >> actually developing in climate risks so that's the group that's been coming with 350.org we've been users the resources they've provides water a coalition i'm not sure how long they're around but very successful and we've been introducing resolutions related

to businesses being responsible for climate risks or strand of assets in the portfolio the other thing the board did in march they've formed a committee an e s g environmental and social governance committee that works with staff to develop a holistic approach to social and government issues as from start to finish on the investment program and that was part of the move other significant thing that happened at the march meeting the board we're the first public plan to voted to do that the boards authorizes staff to go out and research and bring back a fossil fee fund up to hundred million dollars so we could you know and i believe like i said, i that it was put in san

francisco retirement system forefront in authorizing that investment of one hundred million dollars. >> has that investment been made yet. >> we'll be bringing the recommendation of the index we have to actually find someone to build the index and staff is working we anticipate that to the board at the regular july meeting. >> is there a specific i know you mentioned the different committee work is there a work plan on the engagement with the fossil fuel companies. >> to join those coalitions to participate in those coalitions and to also potentially do an individual matt haney the are retirement system which will do the letter writing campaign to those companies we actually have ownership in there was a discussion related

to identifying the worse offender and we're working with a number of public endowments for example stanford their endowment agreed to devest from coal we'll work through coalitions to identify how what is the fair criteria to find the worst offender for the boards consideration later this year. >> i wanted to thank you for all the work that the retirement board has done with the anti a pardon movement in the 70s and 80s i know this is more complex than that i appreciate the steps forward pre.org you and your staff and retirement board has taken a lot of things in motion

i appreciate the surveys we have two more years since the board gave us to implement we're recognizing the board of supervisors did pass amazing the resolution urging the board to take those types of actions. >> okay. colleagues if no other questions open up for public comment anyone else wish to comment on item number 3. >> the programs that can over in a movie he put a title the tragedy of mr. james bond what is able to retire. >> anything else wish to comment seeing none, public comment is closed thanks for being here glad we worked it out normally at our afternoon full budget meeting colleagues if no others questions or comments file item 3. >> i move we file it.

>> supervisor mar we'll take that without objection. >> mr. clerk call item 4. >> item 4 resolution authorizing the rec and park to accept and expand a grant of $1.8 million for the park alliance on behalf of the south park association for the design and construction of the renovation of south park. >> sir from rec and park department to speak on this item. >> good afternoon, supervisors with the recreation and parks department division i'd like to say the south park was featured in the movie blue jazz man that was exciting to hear from the filmmakers it was exist to see the youth actors wearing rec and park department shirts i'm here for item 4 authorizing the rec

and park department to accept and extend a grant up to one $.8 million on behalf of the south park for the design and construction of the renovation of south park located in supervisorial district 6 and the improvement association of the neighborhood park advocacy they received the sponsoring from the parks alliance one million dollars allocated from the 2012 clean and safe park bond in addition to bond funding interest is one $.5 million looked like from eastern neighborhood knees in addition to the general reduce city funding the south park improvements association with support from rec and park and the parks alliance they're involved in funding for this project as well they have secured an in kind from san

francisco architectures that put together the plan and they are soliciting donations to enhance the constructions budget on february 20th, 2014, the rec and park approved the conceptual plan and now getting ready to take this project out to bid in front the rec and park department is it is requesting accept and extend for a cash guatemala up to $1.5 million for the in kind for $1,100,000 thank you and i'll be happy to answer any questions. >> thanks very much seeing none, open up for public comment anyone wish to comment seeing none, public comment is closed. >> no budget analyst report can

i have a motion. >> send for the full board with with a positive recommendation. >> commissioner tang we'll take that without objection. >> mr. clerk, call item 5 and item 5 ordinance for the business tax code to require the real property tax to be shown on the recorded document for the dilation of tax owed to existing law by requiring a declaration for the existing loins on the property. >> colleagues, i have an ordinance can we amend the tax regulations code every time a property is sold in the city and county of san francisco a deed is recorded the sale amount is public information for decades an outdated the tax information showed on a separate tax prarp

last year ab 1888 was passed allowing for the counties to update greater transparency and flo improve the paper this removes the county records must show the amount of tax due on a separate page by amending it makes that may or may not it be shown on the first page that makes it more available to the public and helps to promote 9 efficiency and trust with the taxpayers last year alone the office of accessoriesy recorded over 2 thousand documents related to changes in ownership the changes will eliminate ways of practices and turn the documents to be recorded and deeds available in a timely

fashion we're not often not fast enough that helps to make it faster and continue to request making our government more transparent thank you, mr. patrick for being here as well if you have anything to mention or q and a that's fine. >> good morning supervisor farrell and supervisor mar and supervisor tang i'm on behalf of carmen chu i want to thank supervisor farrell and the staff for the work in bringing this ordinance before us in short this ownerships do does 3 things conforms stating to local law and creates ground floor transparent for taxpayers this ordinance roaches the county recordsers must show it on a

separate page all tax amazes will be on the first page promoting the accountability awhile generating trust for taxpayers thank you for your time i'll be happy to answer any questions. >> colleagues no budget analyst report anyone wish to comment on item 5 seeing none, public comment is closed. >> all right. through the chair i'd like to make a motion to send this to the full board with a positive recommendation. >> we'll take that without objection. >> mr. clerk, call item 6 and item 6 resolution for the authorizing of the office of the district attorney to spend an amount from the california governs offenders office for the human grant period of october 2014 to september 2015 to insure that human trafficking

victims get the services. >> okay. we have our district attorney's office oh, commissioner tang apologizes. >> i'm really glad the davis has a data approach to undercover the human trafficking i'm happy to accept this spend and accept a grant we're working to figure out how to tangible this worldwide issue of human trafficking. >> thank you supervisor tang for your leadership i'm dr. katherine for the district attorney's office and i'm here to just talk about the grants and answer any questions we applied for the grant last summer with the california emergency services in order to

engage and serve victims from hufksz we're focusing on juveniles and young adults that has histories of abuse before they come to the work and are taken advantage and victims during their exploitation this is a vulnerable population a population that is difficult to engage with our work will be to try and better serve this group. >> okay thanks very much appreciate you're being here no other questions or comments supervisor tang. >> there's a matching grant of $27,000 can you explain how that will be divided. >> we're going to do it in multiple ways supervision and training we have a lot of sgirmz we use in our victim advocacy

includes office space and work with the district attorney there is a lot of things included. >> thank you very much. >> okay. again in budget analyst report anyone wish to comment on item 6 seeing none, public comment is closed. supervisor tang >> all right. then i'll move to vote out this full board with a positive recommendation. >> motion by supervisor tang we'll take that without objection. >> mr. clerk, call item 7. >> item no. 7 resolution authorizing the assessorsy to accept on in kind gift not to exceed who thousand dollars from the association of realtor for the praising properties within the city and okay. thank you very much from item 7 we have a gentleman from the assessor's records office. >> i'm eddy on behalf of chiu i

thank you for the opportunity i'd like to thank supervisor wiener and his staff for bringing this item and thank you to the association of raerltd for they're dedicated partnership with the work on this project this resolution authorizes the office of assessor recordser to accept a gift i'm sure you're aware of our office is responsible for carrying out property tax for the city and county of san francisco access it mls helps us for the property owns and brings us in line with the areas that already have by gaining mls we'll know the most update sales data which is critical to the work we do anyone that buys a home mls is

the gold liksz i listing and used by realtor e real estate professionals currently we eye rectifying ton and others that doesn't have the information assess will come to no expense by the city through the devoted work of the staff we bring within third of the revenue to fund fire and police and health and family support services access to mls data helps us do a better job thank you for your time i'll be happy to answer any questions. >> thank you, sir supervisor tang. >> i don't have a question i can't believe we haven't many this tool variables to the assessor's office thank you for the improvement with this gift. >> thanks thank you very much

anyone wish to comment seeing none, public comment is closed motion to send this item forward. >> through the chair i'd like to vote this to the full board with a positive recommendation. >> motion by supervisor tang we'll take that without objection. mr. clerk can you call item 8. >> resolution approving for the person's of internal revenue code for the revenue obligation by the development authority in the principle amount mankind $10 million to refinance the acquisition of work k there 8 to be owned and operated by live okay of learning center for children. >> thanks very much. >> good morning. i'm michelle from the controller's office office thank you for considering the item also in attendance a colleague scott and others if you have any questions about

the budget i want to give you a little bit of background the tax responsibility act allows interests on debt issued through the california enterprise development and the transbay joint powers authority to the city and county of san francisco participating member that authority is authorized notes for the other forms of indebtedness federal tax law requires the jurisdiction in which the project is located to approve the - before the bonds can be issues e.r. issued the jurisdiction nicole is the city and county of san francisco we held a public hearing after notice in the san francisco chronicle on april 21st and held a hearing on may 1st, 2015 no comments from any members of the public through the public hearing process

to say a little bit about the project the school is seeking $10 million to prepay the authorities to live okay school in the principle amount of $750,000 for the finance and refinance construction and improvements facilities at 1580 mariposa that are owned and operated by the bar and will finance and reinforce the bar for capital expenditures for equipment for 5055 mariposa and the real estate released by km located on mariposa street including the compass extension 1501 mariposa street so, anyway pay the costs and other recommended costs approval of that legislation has no

fiscal impacts to the city and county of san francisco and to give you a little bit of background on the bar live outcomes school founded in 1971 k through 8 funded by a forward group of thinking parents that wanted to have direct interaction it was originally k there 5 and added another program their total enrollment is 2 hundred and 81 students sponsored by supervisor cohen i'll be happy to answer any questions. >> colleagues, any questions okay. seeing none open up for public comment anyone wish to comment on item 8. >> send our children learning in a traditional chinese culture children at 8 years old good through a proper manner seeing good behavior at 15 good to

college to engage in quick learning but not unified the wholly holy principle of buddhist a quick united holy way and past civilization the aspect of learning thank you. >> thank you very much anything else wish to comment seeing none, public comment is closed. >> colleagues, can i have a motion to send this forward. >> so moved with a positive recommendation. >> motion pie supervisor mar we'll take that without objection. mr. clerk, call item 9. >> item 9 resolution determining the clearing of the demand the construction acquisition prompt preservation for the affordable housing improvement a related costs

necessary or convenient for that the business to be financed through bonded not to exceed $5 million. >> okay. and could you call item 10. >> declaring the public interest the construction acquisition rehabilitation and affordable housing improvements and related costs necessary for having seen for the for going purpose to be financed not to exceed $250 million. >> thank you very much colleagues two measures specifically on the same item with varying directing amaze supervisor avalos go first and than the mayor's office. >> thank you supervisor farrell it is kind of familiar to be

here in this room budget committee thank you for posting this item today i've been in my office is in communication on with mayor's office with the bond moving forward we want to be able to come together on this one bond i spent on the other hand expect we'll be able to do that we'll keep this one going i want to amend it down to $315 billion on item 9 amend this $500 million to $350 million want to recognize we have a new bond amount for the mayors bond and thank you to the corral and staff in looking at how we can take advantage of lower interest rates for our next bond oifrn coming up in 8 days that enables us to increase the amount we can

deal with affordable housing we are having the mayor and i are having good conversations with the aspects of the what the bond looks like and what it is still being worked out we embrace a larger bonds right now hope to have things up to $350 million according the piecemeal i've seen so far for what's considered for building in san francisco is centralized in certain parts of city principally in district 3 and where our public housing sites and mission bay and transbay and bayview hunters point area this year formal redevelopment areas but terms of the outer areas the expiring and sunset and a visitacion valley there