what we have done, for that to be sustainable, is we need to change as we yo. grow. the last item i'll point out is item number six and you see the calendar of acid class updates and we are formalizing this and the first that you saw esg last month and you will see each of the classes coming throughout 2020. with that, i'll turn it over to the board for questions or comments. just have >> regarding your summary rather the 429.$1 billion, how much is equitized? commissioner can you tell me what page you're on. >> you don't have the page numbed but it's the table with all of the numbers, the weights, numbers, dollars.

>> oh, the 429 in cash, how much is equitized? anna? >> 250. >> working off of your division chart of placements, not counting the fellowship vacancies the box underneath seniorsenior portfolio it says management assistant is that an investment officer or what? >> that title is correct. so that's the classification jay may want to speak to. but that is karen's former title and karen is doing work that is akin in most every respect to a security analyst and she does have other duties. she's not been full-time in private credit. but the plan is that in the long-term, is that she will be fully dedicated to private

credit but that has not been her sole responsibility thus far. >> it's a personal matter we shouldn't be talking about but i can say she is, bill has indicated, transitioned from the administration team and now pretty much predominantly has been through time working with eunice on the investment team. and so this is an interim classification under the city's civil service commission. >> i didn't know anything about that person. it had to do with the functions that position is supposed to perform. >> certainly that person -- i mean the security analyst position has very specific minimum requirements and specific duties.

they were be operating at a different level of experience coming in. >> the amount of work, the quality work in the due diligence. >> the quality of the work has not within been an issue. we're monitoring carefully. this person served a probation period and absent a resource. this is a resource we transitioned. i don't think anyone has concerns over the quality. >> it's not quality but the amount of workload in the acid allocation model is the one -- >> i can't get much further into this discussion in a public meeting, because it is a personnel issue. >> you mean personnel about the individual or just the issue of staffing and how we budget for position or build up for this

$40 billion management plan? those are budget issues. >> i will tell you we do not intend to use this classification in going forward as part of the investment division, but under the current circumstances in order to get resources, we determined this was an appropriate classification, as well as the mayor's office and department of human resources determined it was a proper use of this classification to provide assistance to, in this case, eunice's team. >> i won't bring up the issue of resources. i often ask about our resources necessary and we have a duty to provide resources when we expect an investment officer to do something. that's why i'm trying to figure out what that label indicates. that's part one. >> part two is, some of the vacant positions are the fellowships, not that i'm trying to ignore any fellows but the next question in terms of koa

co-investment, do we have a staff to make sure we look at the co-investments or are we passing them on because we do not have the people available to do the work? >> we mostly do not have the resources to do much in volume in co-investments. we just lack that right now. and that is our plan, is to bring resource toss be ables to be able to do that. but we do co-investments periodically. when opportunities arise, we can do the work in the time it requires and our existing calendar of underwriting manager opportunities allows us to do so. we do it opportunistically.

>> if we do not have the people available, we have to pass. it's not a quality of the due diligence. thank you for the offer we can't look at it. >> there's an opportunity cost and many we cannot do the complete work, even though on the first services it looks interesting, perhaps even compelling but we either lack the time or we lack the resources to be able to execute in the time required. >> there's the issue. resources not available to do the work. >> and that was part of the discussion the the investment committee, we need to go forward and request the resources in order for us to be able to except all the opportunities that we believe are prudent. >> the box for the alternative's equity senior portfolio manager the phrase or label alternative's equity, that's a new one on me and can you explain to me why it's labeled

that way. >> yeah. i believe that a misnomer and i believe it should be categorized differently. when vickie did start that was her initial role but she has worked in fixed income for the last two or three years and that title should be replace. >> your match it up? yes. >> thank you. that concludes my questions on your report. any further questions? >> one last questions the investment staff -- . >> we have a budgeted staff of 24. >> that's what i thought. >> 20 on staff right now. >> the budget is 24, that's what i missed. thank you. >> public comment? >> when it comes to public

equity there's only one investment you need and that's the s&p 500. for the past 100 years, the sup has.s&p 500s&p s&p 500 has produced 10%. let me give you just the last ten years. it did better than that. ten-year average and performance with the s&p 500 was 13.08%. and this is a a year-to-date return which is 23.4%. eacheven the best investor in the world, he wild said we'll have a difficult time outstanding performing the s&p 500. when he dies the money he leaves his wife, he wants her to put 90% in the s&p 500 and the

other 10% into cash equivalent. you can have all of the experts you want and over the next ten years, you won't outperform the s&p 500. thank you.

>> you said there's additional work that needs to happen and if we fill the four positions is that enough staffing or is there enough to hire additional staff on top of the four? >> it's the latter. >> do you have an proximate of how many additional staff? >> we will not go forward with a supplemental and what we're preparing for is to present in the coming year the resources that we will request through the mayor's office and through the board of supervisors in order for us to match our roadmap. >> you're putting that together now. >> exactly building the butch now. >> building the budget now and you'll know how hasn't additional positions? >> exactly and by classification. >> just because i haven't been through that process with you all for additional staffing positions, do you come back to this body and then take it to

the board? >> it dose through the operation oversight committee and the budget is approved by the full board. >> this board. >> in full board before it is even loaded into the mayor's budget system. >> before you start making the rounds. >> it could be february at the latest. >> ok. great, thank you. >> thank you. >> the budget process is an immediate term part of what mr. kocher is talking about is the 10, 20, 30-year plan, much like the projections and he touched on what i would call the governance items which the board must decide, not the chief investment officer. the budget reflects what the board is going to try to do. this was a discussion item only and we shall move on to the next item. >> number 10, discussion item, sfbc committee report.

>> mr. chair the committee meeting was september 17th is outlined, they were stated by the committee and i will have the director go through this and see what her report is. this is discussion-item only. >> do you want to call item 11 then. >> item 11 discussion item, sfdcp -- >> public comment please. >> no comment, move on to number 11. i asked for public comment and i didn't see anyone stand up so i

said we'll move on to number 11. >> discussion item, sfdc, quarterly management report. >> thank you. good afternoon commissioners. before you is the sfdc quarterly manager memo designed to provide you with the consolidated high level overview of the plan and the purpose of this home is to underscore the importance of the sfdcp as in $4 billion with a billion, of voluntary dollars contributed by the employees of qcsf to feel confident of retiring with dignity. there are four main pillars investments, marketing operations and the recordkeeper. they're each attributable to the overall planned success. so we'll start with investments and the stable value of the crediting rate is 2.60% and this is guaranteed until the end of this year and that's december 31st. and stable value makes up 25% of the plan's assets and that's

just south of one billion and focusing on capital preservation meaning investors should expect to maintain 100% of their initial investment. to provide the guaranteed credit rate it's wrapped with multiple investment contracts issued by large insurance providers. the value is a complex product and only available through large dc plans like the sfdcp. gallagher certainly as the investment manager and the contract is set to expire in june of next year. as such callen is leading the manager's search expecting to bring a recommendation to the february dc meeting. cowen is leading the global and domestic research is we just concluded the manager interviews yesterday. they expect to bring a decision in december. >> can i ask a question about stable value.

you said it's only available through dc plans? >> that's correct. >> and if we were to look out in the market in franklin templeton or whatever, we won't see a stable value fund out there for the average consumer? >> no, not for retail, no. >> what about institutional? >> institutional is not retail, but yes through other institutional plans and franklin templeton offers stable plans through other lanes and let's just say apple has their own 401 k and they could have that as a manager. >> i got it, thank you. >> sure. and in addition, future portfolios launched in september and nearly 5,000 participants invested thus far. for those not familiar with future ready, they're similar to targeted funds. they're designed according to your date of birth. whereas future ready can be customerrizedcustomized to risk preference.

someone older may prefer a ris different strategy. millennials are conservative after witnessing their parent's financial situation in the 2009 recession. (please stand by).

it was a great introduction for me, detailed and informative. the type of feedback is very helpful for us and it's really good to see where we stand in our participants' eyes. and finally on the last comparison slide, i think what's interesting is that you can see more prospects than ever before attended this year's seminar. we can see in question one, are you

a participant? 21 percent said no in october. this shows our marketing is working and the word is spreading. and thank you to president driscoll for attending the seminar as well. i would like to move onto operation. we are proud to announce that enrollment was up in day one of the transition, which was september 3. it was a great way for participants to enroll any time anywhere, without requiring the plan to hand over confidential employee information to a third party. to date over 300 participants have enrolled via the web, that's in less than two months. on page four you can see screenshots of the online enrollment experience. if you would like the see clear visuals you can go download a copy of the how to enroll online flier or i can send you one.

we also launched the new rate escalator. this allows participants to set and forget increases times alongside raises or increases in july. this is slowly gaining ground and we expect more adoption in early january when most contribution changes occur. i should inform the board that the annual irs contribution limbs are increasing by $500 for 2020 making the limit 19,500 for planned contribution. catch-up wb -- will be $6,500. this will be $39,000. so for participants who want to continue maxing out they can easily increase their contributions online. it takes two minutes. and the annual increases do not carry over automatically unless you opted for it via the rate

escalator. filially last but not least is the record keeper. as you know we have sufficiently transitioned to on time and on schedule on september 3. as part of the transition the plan offers advisory services. some are comment peremptory such as the online advice tool or speaking with an adviser. managed accounts are available for an additional accounts. managed accounts can be valuable to participants in or near retirement. they are generally better served with a strategy designed to gradually spend down their nest egg by creating a stream from various income sources such as social security, pension, any rental income. they offered a risk-free trial where participants could enroll and experience three months of professional management at no additional cost. that promotion has been extended to

the end of the year due to popular demand. you may be wondering are the right type of people signing up for this paid-for service. well the answer is yes. with the average user being age 55 and the average account balance of over 16 this thousand $ it's clear that transitioners and retirees are finding managed accounts to be of value. or perhaps they can't resist a promotion. just kidding. [laughter] with that, that's my report. also attached is the quarterly activity report which is right after the memo. this includes performance transactional data. i'm happy to answer any questions regarding that data for the memo. >> questions? before i call for public comment permit me to try to add comments to what the manager of the

program briefed us on. the value of the management managed to count the third level for which there will be a cost after the free trial period. the fact that how we have opened up how the self-directed brokerage account can work, though that is not covered in it, plus financial skills which are quite deep that opportunity for participants to invest even wiser or better are incredible good value. the fees in that operation are also going to drop significantly after the first of the year. again something that they took the initiative to do following great firms like schwab. the benefit is coming to members after the first of the year. part two, there has sometimes been criticisms about the concept

of anewties in this area. a former life insurance company has left the operation they sold out that piece of the business. there is some connection to them in it because that's the way companies have transferred but they don't sell them to our members. the importance is tax-sheltered annuities is a separate label in the irs tax codes. savings plans are connected of my we are a tax sheltered program on the defined benefit side. that's why i say it's probably not a member's best choice to be more tax sheltered work on their own voluntary-defined contribution plan. it's not about annuities being bad. maybe they are the right thing in a small percentage of our participants. it is an option they have. it is not something that's something

to be recommended. it's an option. more importantly because our members for the last 20 plus years have been able to contribute to their account on a tax sheltered basis they will someday receive both a pension and what we legally call here in san francisco an annuity. for accounting purposes they are called both pension and annuity are the words they use together. it's an odd coincidence that we are and all the other members have been investing in a tax sheltered annuity for the last 20-years. that is not an option to consider your first choice when you have your own deferred compensation program when you decide how much to invest and how and when you decide to take the distributions. it's totally different than your defined

benefit pension plan which we expended most of our time focusing on here. trying to add to the nice presentation by our manager. >> thank you. >> okay. >> just wanted to transition, i think the transition went very well and especially being a user myself i think the transition was quite easy. so i talked to your time for making a smooth transition. for the process i know there were criteria or goals we hoped the new venture would achieve things like the number of contribution individuals joining their own or creating their own compensation work, having more people invest in their funding, are we tracking those measures in a way that you are going to report back to us? i know it's new at this moment but at some point we are going to make sure they are delivering on those goals that we had set for them and they they said they could achieve for us. >> absolutely. first of all, thank you so much for

those kind words. that really means a lot to me and my staff. we did work very hard over the last couple months. so thank you. and i will share your feedback with them as well. as far as tracking, absolutely, as far as the contracting process we wrote them to hold them accountable to what we expect them to do for us. we do a lot of that tracking and report back quarterly. you can see that in the monthly activity report on page 2 of the monthly activity report, we track the payroll contributions and we also track new participants enrolled so that's aa good way to see whether or not participants are gaining traction and the participation rate so we require that on a monthly basis in addition to other things. >> i saw that statistic. what i meant is are you -- because it's not included in the report about what the goal was. so while you do show sort of what the participation rates are what the contributions are, there was a goal we were trying to set in terms of the amount of uptake

we wanted to achieve through their efforts and our efforts combined so the question is not so much what it is but is it meeting the goals we set for that increase. >> absolutely. yes. and i would agree yes, it is early and we are trying to iron that out too to make sure that those both sides are on the same page on what the benchmark is going to be so we can move forward correctly. so i hear exactly what you are saying and we'll make sure to track that and report that at a minimum at least to the dcc. >> [off mic] >> that's right. thank you for that. >> i'll run it as a test so we can have firsthand knowledge here. i'll volunteer to do that. [laughter] >> the group to contribute to my retirement.

[laughter] it's free for three months. that's right. >> just so we can speak from a firsthand view. my younger daughter here she'll be well taken care of. >> and generations to come >> to evaluate the things i'm going to ask the committee to put on the committee's agenda is the success definition. without the definition, i won't say it doesn't make sense to have goals but the goals are more than just participation. the comp program and the mission of the defined benefit program are put together. we are working on that linkage that was planned when we put this rfp up. >> thank you commissioners. >> no further question i'll call for public comment. >> i just want to note again that

directed to the entire staff worked through this transition day and night. it was a lot of time going through contracts and everything else. so thank you very much for everything going through the entire process. it's very long. a few hurdles. but thank you. >> acknowledging the staff. >> yes the staff. >> okay. is there any public comment. >> acclamation [off mic] >> yes. [laughter] take that to your account. >> this was a discretion item only. that moves us to item 12. >> discussion item expense report, the quart ended december 30 2019. >> this is the first full quarter of our budget year. you'll see that we had expenditures of $121,000 out of over a

million dollar budget. i would urge board members to review educational opportunities. the board policy which hopefully we'll be bringing before the board not only encourages you but in some cases would actually require you to take advantage of educational opportunities and conferences. we certainly have more than a sufficient budget for board members to have as much training or attend as many conferences as the policy allows. and so since i know all of you are busy and you volunteer your time but i want to make sure you understand we would encourage you the budget is there and certainly we would hope to see more of you take advantage of that budget and go to conferences. so with that it's a discussion item

only. but certainly we are tracking well below a quarter of our budget. we are nearly at an eighth of our overall budget, one quarter into the year. answer any questions. >> board questions? public comment? discussion item only. 13. >> 13, action item. review an approval of request for proproposals -- proposals for actuarial services. >> the draft is in your packet. please let me know if you have any questions. >> i would say this is normal. we go every five-years. we went ahead and extended the contract for one year so that we didn't have it overlap with the actual of it. so this is not a result of anything

other than board policies bringing this contract. we are not dissatisfied with our current act -- actuariess. >> this is business as usual. >> i'll make a motion to approve the request for consulting services >> is there a second? >> second that. was there any significant changes to the rfp compared to the last time? >> there were no significant changes. it was updated. the city has gone online with their vendor so there was some updates there. >> my suggestion into this issue that came up during the general consultant on the investment side was they were

working with them on this product they helped design. any of their competition have a similar tool since the assumed greater return is one of the biggest numbers that we have settled on at least the contribution rate but agreeable to people call that, i would suggest we are going to ask that question if they have developed any tool or product in that area. >> yeah, the focus is on the services and not on an investment tool. but -- >> but it has to do with risk. because they helped develop that process with them. i'm trying to find out if they have any control over that product or something similar. >> i believe it is a makita product. every investment company works within an actuary when they are doing asset liability. certainly any pc has their own staff

actuary that i worked with. >> maybe the other firms also work with them. do you understand the subject? >> i do >> thank you. motion has been seconded. no further questions. any public comment? those in favor say aye. >> aye. >> opposed? item 14. >> thank you. >> action item executive director's report. >> to be brief, we have provided you with a september dashboard operational dashboard. and i also bring forward a very brief briefing to this board related to a lawsuit that up until recently i didn't feel the board needed to be briefed on. we have one of our members who basically applied for ordinary disability as a miscellaneous member in 2000. she was awarded that. she has been paid that benefit in 2000. her claim was in 2017.

she actually saw the underlining formula that was the basis of her disability calculation. and she felt that it was discriminatory against her because she had a late career started work with employment with the city at a later age and that had she been ten years younger her benefits even based on her salary, would have been higher based on the charter formula. the reason it was not briefed to you before today is that that case -- she made her claim against the division of fair employment and housing act. it was a disparate treatment claim and it was appealed by the court. she appealed that dismissal, and the court of appeals, within the last ten days, reinstated her claim.

the city's position, and again, they are not suing, she's not suing the retirement system. she wants it to be a class action on behalf of all folks who are receiving a miscellaneous disability benefit from the retirement system or on behalf of them. and certainly we are not playing a part in defending against this. but i wanted to make sure the board was aware of this. we'll continue tracking it. because if in fact there is a determination and if there is in fact some sort of corrective action that might become an issue before the board. but if there is damages, i'm not giving you legal advice, but i'm assuming the damages would be coming from who she is suing and that would basically be the city. so again was not -- it was on our

radar but it had been dismissed. now this court of appeals has reinstatedded her claim. basically the city was saying she missed her opportunity, she needed to have made her claim within a year of the discrimination or the disparate treatment. and the court of appeals basically said every month that we send out a paycheck restarts that one year statute of limitations. and so they reinstatedded her claim against the city. we have not estimated what the potential cost. we don't know what the remedy would be. the charter provision is the charter provision. we calculate benefits according to that. but i would be happy to answer any questions the board might have on this item. >> board questions? >> i have a few questions. thanks for telling us about this case. since the name porter is on here and i see the city is listed as

defendant, that means the city not the retirement system? >> absolutely >> in terms of any damages are we going to be liable for that or will the city pay? >> i think she's suing the city so she would seek damages. and i don't know that the court would award damages to a nonparty to the lawsuit. i'm not an attorney. i'm not acting as an attorney. i've lost my attorney. >> in terms of her formula, it would be allowance we pay her increase? >> yes >> okay. a year or two ago when i'll call it the pob lawsuit about the supplemental cola they took the initiate-of-of finding a hundred people who would have fallen within that window and adjusted the pensions for that. do you recall that? >> yep >> okay. i'm wondering if it's the same --

the same reasoning would apply to this woman if she's right about the way the benefit formula should have been interpreted, are there other people who went for ordinary disability and didn't get the superior formula? >> well, this allegation is based on a formula that was approved by the voters embedded in the plan, which basically the construct was if someone is injured before age 60 which really today isn't tied to normal retirement age, but may have been at the time that what the formula grants you is additional years of service, sort of the concept of qsr the date which you would pay the age of 60. so if i started when i was 48 but got injured at 58, i only got what she's calling two bonus years to age 60. if i was 38 and worked those same ten years and was injured at 48 i got the benefit of 12 additional

bonus years included in the calculation. so how a court would tell us to fix that is unclear because it's all measured against this age 60. if they say i mean, it would be -- it would be impossible for us to determine how a court might decide to fix this. certainly an extreme example would be someone who worked at -- started working here at age 20 and was working ten years and injured at 30. they would get up to a maximum the benefit of 30 bonus years that would exceed the maximum. so i don't know how that would be so we really can't calculate what the cost of that could potentially be. >> this reversal goes back to the judge? >> i'm not sure where i would go but absolutely -- i mean -- again the charter is not ambiguous.

they're basically saying it resulted in a disparate outcome for the older retirees. we can certainly identify the age at which people were granted disability to get an idea the head count of these folks. but as to what potential cost and what are the result would be striking that language from the charter and replacing it with other language or know bonus years for anybody. i mean it's hard for us to evaluate what potentially could be what they would determine to be a fair way of resolving this. >> there's a policy issue for the city going forward basically? >> yes >> not what we do. but in terms of -- not that there was a class action lawsuit but if there's a finding that we have not been applying our formula correctly or in compliance with dfh

we take the initiative. >> in a lawsuit like this, even though it's not against the retirement system, they will rely on our information to identify members of the class. so certified as a class we will be the one who will identify folks who have retired by reason of disability through the miscellaneous plan so that we would certify the class but not knowing there's a wide range of potential outcomes of how they would determine to fix this or not. >> i assume the city attorney's office will inform of us what goes on with this case. >> right. katie porter is involved because she is the head attorney for the labor team for the city. and so she is the principle of city attorney defending the city against this claim. >> other than adjusting her allowance that's one step we probably assume we are going to have

to do. i'll stop with that. >> she didn't actually say how she would be adjusted. she said if i had been ten years younger i would have gotten more money. so it's hard to tell what she was asking for. >> again thanks for bringing this to the board's attention. personally, i think we should have been told sooner. >> well, we certainly knew it had been filed but we knew it had been immediately dismissed. so we'll keep you informed. we'll continue tracking this until it's dismissed again. >> the only item in your report that you were going to talk about? i have one more question. in the future calendar the next portfolio update, usually comment on, i've asked the managing director to give us an update on execution on all the trading that goes on in that part of the portfolio. i'm going to be looking at that time when that report is made.

how are we doing with best execution, similar to the discovery perhaps on our -- when we were selling securities from our private equity portfolio that former security analyst mark was handling this question about execution, we haven't talked about trading for some time, just like we haven't talked about the performance of our attorneys for a long time. is that clear what i'm asking to be ready for? >> this is for the december scheduled quarterly report? >> yes >> okay. >> any other further board questions? this is a discussion item only. public comment? that concludes item 14. >> item 15, discussion item. retirement board member good of the order. >> board members, commissioner members

public comment earlier. the last item to bring up my issues that i want discussed going forward in the future. nothing else to report. motion to adjourn is in order. >> second. all those in favor say aye. >> aye. >> meeting is adjourned.

>> i want to welcome you all to the salvation army light center for the annual turkey carving event. and we are so glad that you are here today. because we didn't want to have to carve all this turkey by ourselves. it's always better when there's many hands. thank you so much. and i want to introduce our divisional leaders captain matthew mattson the salvation

army state divisional leader from our headquarters downtown. [applause] >> good morning folks. it's great to have you here on this wonderful occasion. this was a thank, it really is a season of thanks and we have much tore thankful for. i want -- to be thankful for. i want to thank the metro advisory board and advisory council members. we appreciate and thank you. thank you for being here. the salvation army doesn't run without our advisory board and councils. we would like to thank our harbor light staff and all the volunteers that make this possible. we are here to serve, and we appreciate everything you contribute to this salvation army. [applause] all right now it's my

responsibility to tell you exactly what we are serving. so tomorrow this is going to be the thanksgiving dinner that we are preparing. roasted turkey, stuffing, gravy, sweet potatoes, beans cranberry sauce, a lovely juice box some fruit cups. you can't go wrong with grandmother's cookies. hot cocoa mix and hot apple cider. the reason why we are doing it is continuity of service. this is the 60th anniversary of the salvation army's participation in serving our seniors. i've met people that this is their fourth generation. they are teaching their great grandchildren. and that's the continuity of care that our city and everyone has for one another that when we can we serve. so we are welcoming you here. the captain is going to come and give a brief announcement of the holidays activity he's going to do. and then we are going to have the courtesy of introducing our

civic leaders. for this army of ammunition is love and compassion. that's what we do. that's what we are here to do without discrimination. we love people and we serve them. and in order to do a lot of things we do, it does take money. you'll notice we have a lot of red kettles. we ask you when you step by, put some money in there. we have a new online giving thing, you put your phone up there, check it out. there's celebrity bell ringing event is going to be at macy's on december 6, between 12 and 3. it's going to be a lot of fun. if you want to volunteer ring for change.com. you can find a place that's in your neighborhood and you can support the salvation army right where you are at and that money stays there to serve the people. thanks again. [applause]

>> well, again, i want to do some introductions this morning. and we were looking to see matt haney here today and also raphael mendlyman. i don't think they've made it today but we will keep ongoing. let's start with san francisco fire department chief, thank you for being here. [applause] and of course it's my great pleasure today to introduce to you the mayor of the city of san francisco, the honorable london breed. [applause] if you would like to share a few words, please do. come on, please. >> all right.

i know we came to get to work. i came to get to work. unlike some other folks, i showed up on time. along with the chief and deputy chief from the police department. really happy to be here with so many amazing people who do this every single year. the work that you do of course, you know how important it is and what it means to the people of san francisco who just need a hot heel during the holiday season. and sometimes we also have to keep in mind that the holidays can be depressing. and this might be the only time that someone has even contact with another person when these meals are delivered. so it does mean so much. and that's why we all took the time out of our schedules to make sure this was a priority. we want to thank the value vacation army because we all know -- the salvation army because we know this is an incredible organization that for 140 years has been doing the amazing work to provide this

kind of support for people all over the country. and we appreciate what they do right here in san francisco year-round not just during the holiday season, but the work they do to provide a place and opportunity for those who are less fortunate is absolutely amazing, we truly appreciate them and we are grateful to be here. i want to basically thank the people who cook the turkey that we are going to carve so we didn't have to spend time doing it. so thank you. [applause] i want to also thank the people who are going to be delivering these hot meals tomorrow during the holidays. again, we are really appreciative to be here. we know that it is a blessing to be a blessing to others. and that's what san francisco does best when people meet us, we roll up our sleeves we come together and we make magic happen. so thank you for making magic happen for so many people in san

francisco today. [applause] >> thank you, mayor breed. and now it's time for us to do the march of the turkeys. the turkeys are coming, and the music is cued. mendalman is here. someone will make their way to you with a turkey. [music playing] okay. let us have the carving begin.

[music] ... ....

>> this is the recreation and park commission meeting november 21, 2019. we welcome everyone. please turn off