>> this meeting is being recorded. good morning and welcome to the retirement board meeting of june 9, 2022. this meeting is, held in hybrid format with the meeting occurring in person and live on sf gov tv. before we begin, i would like to remind all individuals, present and attending meeting in person today that our health and safety protocols and building rules must be adhered to at all times and failure to add here to the rules and requirements may result in your removal from this room. we appreciate your corporation with these important rules and requirements in the interest of everyone's health and safety. please note that

hand sanitizer stations are available throughout the building and at each elevator and mask are available upon request at the front desk. roll call, commissioner bridges? has not arrived yet. commissioner driscoll? >> commissioner driscoll -- >> present. >> thank you. commissioner gandhi? >> present. >> thank you. commissioner heldfond? >> present. >> commissioner safin has not arrived. commissioner stansbury hasn't arrived. commissioner thomas? >> present. >> thank you. we do have a quorum. item no. 2, communications. we welcome the public's participation during public comment periods. there will be an opportunity for general public comment at this meeting after closed session. and there will be an opportunity to comment on each discussion or action item on the agenda. each comment is limited to two

minutes. public comment will be taken both in person and remotely by video or call in for each item and the board will take public comment from those attending the meeting in person and those attending remotely much comments or opportunities to speak during public comment period are available via phone by calling 415-655-0001 and access code 24886668094. then pound and then pound again. when connected, you'll hear the meeting discussions, but you'll be muted and listening mode only. when your item of interest comes up, press star three to be added to the speaker line. call from a quiet location, speak clearly and slowly and turn down your tv or radio. city policies along with federal, state and local law prohibits discrim nature tori and harassing

conduct against officials and others during public meeting and not tolerated. public comment is permitted only on matters within the jurisdiction of this meeting body. we thank you for joining us. we will take in person public comment first and then we will open the line, phone lines for callers. we have no in person public comment at this time. moderator, do we have callers? >> madam secretary, there's one caller on the line. >> thank you. caller, please state your name. >> is this the public comment before the closed session or the general public comment item three? which one is it? >> this one is before closed session. >> all right. i'll wait until item no. three then, thank you. >> you're welcome. month rater,

do we have any further callers? >> madam secretary, there are no further callers. >> thank you. hearing no calls, public comment is now closed. item no. 3, action item. review and approval of the june 2022 board resolution to continue to meet in person with some members possibly attending remotely for at least 30 days pursuant to government code section 54953e. >> madam secretary, can we -- again, let me just safe for the record, i just received a text that confirms that we're, we should start without ahsha and since i don't have the script and i don't remember, do i read this action item? >> i can read it for you if you would like. this is an action item to adopt the june 2022

resolution recommending the retirement board continue to meet inperson with some members possibly attending remotely for at least the next 30 days; adopt findings under new state urgency legislation codified as government code section 54953(e) (ab 361), including that the state and the city remain in a state of emergency due to the covid-19 pandemic and conducting meetings of the retirement board and its committees in person without allowing certain members of this body to attend remotely would present imminent risks to the health or safety of certain attendees due to covid-19; and providing that all meetings of the retirement board and its committees will provide an opportunity for members of the public to address the body and will otherwise occur in a manner that protects the statutory and constitutional rights of parties and the members of the public attending the meeting in person or via teleconferencing.

you're ready to make a motion on that action. >> i move we make a motion as read, thank you. >> is there a second? >> i can second it. >> okay. it has been moved and seconded. do you want to have public comment, please, now, madam secretary? >> thank you. we have no in person public comment. moderator, do we have any callers? >> madam secretary, there are no callers on the line. >> thank you. hearing no calls, public comment is now closed. >> it has been moved and seconded and madam secretary, do you want a roll call vote, please. >> thank you. commissioner bridges? >> aye. >> thank you. commissioner driscoll? >> aye. >> commissioner gandhi?

>> aye. >> commissioner heldfond? >> aye. >> commissioner stansbury is not here. commissioner thomas. thank you, we have five ayes and motion passes. >> great. madam secretary, do you want to call item four, please. >> item no. four, closed session. so before moving into closed session, we'll take public comment. we have no in person public at this time. moderator, do we have any callers? >> madam secretary, there are no callers on the line. >> thank you. hearing no calls, public comment is now closed. we are ready to end this -- move from this open session and move to the closed session item four.

>> right. and, okay. that's great. let's move out of the open session. everybody has the link to the closed session and would you do me a favor, madam secretary, will you send a text to supervisor safin saying that we're going into closed session. >> certainly. no problem. >> thank you. >> we'll see you i >> you may resume the closed session of june 9, 2022. >> we're resuming our closed -- open session. >> i would like you to read the action. >> motion is in order to vote to discuss the vote in closed

session. code 67.12a. >> do i have a motion? >> mr. vice-president, i move we do not disclose information from closed session. >> second. >> thank you. it has been moved and seconded. madam secretary, please do a roll call, please. >> public comment first. we have no in-person public at this time. moderator, do we have callers on -- on the line? >> we don't have calls on the line, madam secretary. >> hearing no calls, public comment is now closed. >> roll call, please. >> commissioner bridges? >> aye. >> commissioner driscoll? >> aye. >> commissioner gandhi? has not arrived. commissioner heldfond? >> aye. >> commissioner thomas? >> aye.

>> thank you. we have four ayes and motion passes. >> thank you. madam secretary, do you want to call item 6? >> are we skipping general public comment? >> no, we're not. >> item no. five, general public comment. we have no in person public at this time. moderators, do we have caller. >> >> madam secretary, there are no callers on the line. >> thank you. hearing no calls, public comment is closed. item no. 6, action item. approval of the minutes of the may 12, 2022, retirement board meeting. >> move to approve the minutes. >> i second. >> it has been moved and seconded. do we have any public comment? >> thank you, we have no in

person public at this time. callers, if you haven't already done so, press star three to be added to the queue. moderators, do we have any callers? >> madam secretary, we have one caller on the line. please pass the host duty. >> thank you. caller, please state your name. >> my name is john ferland. >> go ahead. >> hello, you have two minutes. >> yeah, i raised my hand for your general public comment and i wasn't called on. this is the general public comment, okay. is that okay? >> go ahead. >> my name is john and at the january meetings and they did

public comment saying i was concerned about the evaluation of your assets and since then, the market crashed accept evaluation and public equities and you're down 24% through may 31st. i mentioned back then my concern about your private equity evaluation. that is reported down a mere minus 3.2% here today. it's a huge, nearly 21% percentage point gap between two reported equity returns. your private equity -- the return gap in half to a little over ten percent. that would push a private return town to 13.5% year-to-date. not 3.2%. that would increase your report year-to-date total by 4.4% from minus 8.3% to minus 12.6%. a 53% worth. that is before the possible next market phase in the second half of reducing

earnings estimates for equities that might follow low the first half and the second phase hopefully doesn't happen and i'm spectacle and your new ceo, cio luckily starts with returns going up here. in corporate america, new ceo's take the write downs early and start with a fresh slate. i suggest that sfers might do the same which is private equity evaluation. granted that's not an issue, unique sfers is a -- which means if you take the private equity down now, then your returns would suffer. like most things, transparency is ultimately the best policy. and end of public comment, thank you. >> thank you for your call. month rater, do we -- moderators do we have further callers? >> madam secretary, we don't have further callers.

>> thank you. hearing no further calls, public comment is now closed. >> okay. so, (indiscernible). >> we have to do roll call vote on the -- >> i'm sorry. >> on the minutes. >> on the minutes, roll call vote, please. >> thank you. commissioner bridges? >> aye. >> commissioner driscoll? >> aye. >> commissioner gandhi? not arrivedful commissioner heldfond? >> aye. >> and then commissioner thomas? >> aye. >> thank you. we have four ayes, motion passes. >> time 7, action itemful consent calendar. >> a motion to deal with the consent calendar. >> i move adoption of the consent calendar. >> second. >> moved and seconded.

>> we have no in person comment at this time. a reminder to calls to press star three to be added to the queue. month raters, are there any callers on the line? >> madam secretary, there are no callers on the line. >> thank you. hearing no calls, public comment is now closed. >> roll call vote. >> thank you. commissioner bridges? >> aye. >> commissioner driscoll? >> aye. >> commissioner heldfond? >> aye. >> commissioner thomas? >> aye. >> thank you. we have four ayes. motion passes. >> great. >> call item no. 8, please. >> yes. item no. 8, action item. approval of the recommended benchmark for sfers real -- assets portfolio. >> the recommendation last month

was to change the composition of our quarter -- seeking to do the same and the purpose of recommending or the purpose of the changes is really to reflect both the current composition of the portfolio and future direction of the portfolio. and the portfolio, we want to have sound maybes for tracking the consequent returns and basis for forecasting future returns, volatility and coalition with other asset classes. staff has provided a memo that supports our recommendation and hem bridge and our real asset consultant and a change will be codified in sfers policy statement and as you have see, there's a memo of support. so with that, i'll turn it over to tanya and chris. >> looks like i'm muted.

apologies for that. today, we're proposing changes to the benchmark to better the portfolio as kirk noted and the changes and loss of opportunity. the current loss of bench -- as a reminder, this is targeting 12% long-term return with a focus on total return and capital appreciation followed by diversification and consideration. this approach already determine which strategies we're prioritizing within the largest office opportunities and for the reasons for the benchmark changes and first one is to reflect our focus on values and state strategies within the portfolio. instead of one hundred percent core, we're proposing a blend of core and

value opportunity i can to reflect high risk and profile of the portfolio. the target allocation through state will remain the same and we're upping it to 2/3 of the portfolio to 72. it's to -- in particular, growth and infrastructure type -- this is happening in the broader market as well. and it's happening at the expense of natural resources strategies. instead of having 1/3 of the portfolio targeting just natural resources, we're proposing including infrastructure as a use of strategy within the portfolio and appropriate benchmark. this is a summary report we're proposing and now i'm going to turn it over to chris, director of real assets to walk you through our recommendation, process and implementation. chris.

>> thanks, tanya. a quick summary of the process. a process -- they evaluated the various benchmarks over several quarters and they evolved and indicated benchmarks and one -- >> wee val waited benchmarks over the course over several quarters and there are four key steps involved at benchmarks and one, soughting the benchmarks and reflect core and non-core real-estate and two, selecting the natural resources of

benchmark, and three, selecting the infrastructure of said benchmark and four, selecting the appropriate benchmark for real-estate, natural resources and infrastructure and then the methodologies to measure it. the recommendations on are page one and seven. we retain benchmark for core real-estate and natural core resources and adding two for non-real-estate and infrastructure. we arrived at 70/10 target which is a longer term target and we're recommending that they float in weight until the targets are achieved or year ten. for example, at the spending affect of calendar year '21, we'll take the weights of the real as thes real-estate and natural resources exposure to create weights for benchmark. it would

defer from the 7020/10. it was 56% real-estate and 8% infrastructure and 30% resources. please note in creating the new infrastructure sub benchmark and composite, we're classifying six investments in the real-estate or natural resources and infrastructure. the investment being made in 2016. this is 8% exposure towards infrastructure. moving on to comparison as sfers further performance to current and recommended benchmarks, you'll see in the illustration on page ten with returns. this performance and the benchmark performance and the three proposed benchmarks of the current weights to the target 70/10 weight and the current benchmark has a higher waiting towards resources as the current benchmark and they have three and five year and ten years

compared to the current benchmark. under the 2021 weight, the proposed pen -- benchmark remains high during current benchmark. as kirk mentioned, we have updated the policy statement and included red wine as an attachment. with that, i'll conclude and to summarize, we're recommending changes to real assets benchmarks reflective direction of market direction and construction and take effect july 1st. with cambridge associates along with staff, we're available to answer questions, thank you. >> >> commissioners, any questions? or comments >> yes, commissioner driscoll, i had a couple of questions. the first one is about how the benchmark actually is created. so, the way it says there on page 7, on actual calendar year

end weights, so as an example, we're getting ready to end a fiscal year shortly. for this one year number, you would go back and use the waits of july 1, 2021, to set the weights for the different benchmarks you're going to use to make this composite benchmark? >> sir, we're going by calendar year. july 1st would use the 12/31 of the bi-year calendar year. as i've mentioned for calendar year '21, we would use the weights at that time and going forward, we would use the following calendar year rate return. we wouldn't adjust -- >> that's my first part. for the one year number, that will be fine but again, we always see 3, 5, 7, and 10 year numbers, are you going to go back and figure

out where it was or look at it prospectively? sir? >> look at it perspectively? >> he would request you put a footnote or asterisk sfwh and when i look at 3, 5 and 7 years it's different than the current benchmark and it opportunity align with what you're trying to do now. >> that's a footnote and we'll -- >> okay. fine on that one. when you do the update on the real portfolio, i would suggest if there's a significance difference in the weights of what portfolios are in terms of real-estate and we're going to do dedicated infrastructure, if the actual weights are significantly different than what the weights of the benchmark is, just point it out to me, that's all, just so i

know benchmark comparison are neater in this area so i like to know the difference if we're going to -- any judgments about comparing to the benchmarks, you know how to address. >> that's clear. i think somewhere on ten, exhibit 5 it would provide something similar in our annual update. >> okay. >> it would serve a different comparison and weight. >> thanks, chris. that concludes my question. >> any further questions? >> move adoption of staff's recommendation to change the benchmark for the real portfolio. >> second. >> it has been moved and seconded. could we have public comment, please? >> thank you. we have no in person public at this time. a reminder to any callers to press star three to be added to the

queue. moderators, do we have callers on the line? >> madam secretary, there are no callers on the line. >> thank you. hearing no calls, public comment is now closed. >> roll call vote on the approval of the recommended benchmark for real asset. >> thank you. commissioners bridges? >> aye. >> commissioner driscoll? >> aye. >> commissioner gandhi is not here. commissioner heldfond? >> aye. >> commissioner thomas? >> aye. >> thank you. we have four ayes. motion passes. next item no. nine, discussion item. report on investment performance of the retirement fund for the quarter ended march 31, 2022. >> commissioners this has been the case the last couple of quarters speaking about the prior quarters 70 days afterwards and it loses its relevance but it's important that we do do a deep dive and

look into our performance in the first quarter. as you know well the markets had to contend with a variety of challenges from rising inflation and rises in interest rates and more in europe and extended lockdowns in china. for the first time since 2019 the federal reserve did get into high rates and signal they would do so for some time, certainly through 2022. the big question is whether or not central banks worldwide can come back inflation -- without impairing growth and i think most of you know this, the u.s. gdp was contracted by 1.4% in the first quarter and inflations measured year over year and march came in at 8.5% so consequently both the equity and the fixed income markets not only were extraordinarily volatile during the quarter, they were down substantially but

despite all of this, the diversification is our primary mitt gant during times like this and it was down 3.4% a quarter. so with that, i'll turn it over to alan martin. alan, as noted, we'll control your slides. >> thank you, kirk. can people hear me? >> yeah >> good. you have before you the 331 investment performance analysis which includes the first three quarters of our fiscal year 2022. as kirk said, q-1 represented a very significant departure from prior quarters with the s&p down 4.6% and i think even more troubling, the bar cap ag, the index for fixed income was down 5.9% which is what happens when interest rates rise. and this is something that get used to it because it's quite likely we're going to see similar results for

the second quarter. since this report was issued, the s&p is off another 8.5% and the bar cap is down another 3.5 through 531. so, as of 531 the s&p is down 12.7. the bar cap down 9. and you'll see later kirk's cio report estimates 5.15 for sfers and that's verses a 60/40 fund which will be down about 11.5. so, as kirk mentioned and the board knows, four or five years ago, we moved to have a more defensive structure particularly in shifting assets from public fixed income to private credit and that while it's difficult for anyone to do well in this market has certainly allowed you to be less damaged by this downturn than many others. for the fiscal year, kirk's estimate

of negative 1.7 would compare with the 60/40 fund, a 60/40 domestic fund of down almost five and a 60/40 international fund down 8. that's a 700 basis point difference. coming into this year, the story of the economy was strong growth with somewhat rising inflation which many market participants regarded as a spike. as the year has progressed, that picture has changed. the invasion of ukraine caused a supply in two of the most essential elements for lower income consumer spending, transportation and food. that impact on the markets has been particularly dramatic and i would take you all briefly to page three which i'm not going to spend much time on, but that first column tells the story. it's all red and we've mentioned, it isn't just publicly traded stocks and bonds

but really a cross asset classes with few positives. the cambridge number, again, as you know, the valuations reflected in this report as of 3/31 will typically be private equity values as of 12/31 so there's a lag in the recognition of market impacts on private markets and we'll see that as we get to june where you'll start to see first quarter marks on private markets catching up, but if you look across this, there's not very many attractive stories, certainly private debt has held up, private equity has held up, real-estate has held up. if you had oil in your portfolio, this was the time to do it because commodities did well but nothing else did. if we go to the punch line page of page 11 for sfers,

i will say we did transition to a new performance platform this quarter. the numbers you see here do reconcile to the bank and accurate but you'll see as we go through this, there are formatting changes that haven't been fully adjusted and those will be corrected when we get to the second quarter. the top line here is injure total fund net of fee returns for various periods ending 3/31. followed by a ranking in a peer group universe of public funds greater than a billion dollars in value. if we start here, the most important number on the page is if you look at your annualized returns, one, three, five, ten and the next page does it for any longer periods, you'll see in every case, you're substantially bert than the 7.2% assumed rate. all annualized returns are in the top one percent of your peer

group for the longer period, so you can see we did have a weaker order and a weaker fiscal year-to-date at 14 -- top 14% is not bad but you can see one year top four percent, three, five and ten years is not only top one percent but indeed the top performer in this group. all of the returns, again, are above policy, which is your second line there. the policy index is the return you would have earned had all your asset classes been maintained at their target levels and all of your managers performed in accordance with their policy benchmark, so by doing better than that, it means value has been added either by having managers that did better than the benchmark or by the portfolio being overweight asset classes that did well when underweights asset classes that did poorly, we're going to examine that in a little detail

later but you see for five years, your 11.98% outperformed your policy index of 9.67%. a very substantial number. that in dollars would be $3.75 billion. you've also, if you compare your top line with a 60/40 or 60/30/10, would you see strong out owe on out performance against portfolio and for five years, the 11.98% verses 8.72% that a 60/30/10 would have gotten you, that difference in dollars is $5.2 billion, so very substantial value added in manager selection and portfolio positioning. also note that the quarterly policy return in the down quarter is still substantially better than a

60/40 although we didn't do as well as our index. and we're going to talk about that because that underperformance when we look at it for the year in quarter, as you know, the drivers of your outperform znswer over -- out performance has been private equity and we have fixed income which has done well but you've also had a substantial contribution to your returns due to active management in your public equity portfolio. you've had an overweight to technology. you've had an overweight to health care, you've had an overweight to bio tech and an overweight to china. that's that has been the driver of long-term -- that has been the driver of long-term out performance where they have given up that game and simply index. that wasn't the case in the first quarter so all of

those elements suffered in the first quarter and so you can see you've actually under performed your policy index in that period. for the three and five-year periods, as you know, we've tried to have a more diversified portfolios. more diversified portfolios mean less volatility and if you look in the tables to the bottom right, you see for the three and five-year periods, the standard deviation or the volatility of your returns around your average is low compared to your peers. bottom five percent meaning you're less volatile over your peers and risk adjusted return by looking at the return minus the risk-free rate which in this period is low and divided by the standard deviation which is called the sharp ratio and you can see in that metric, 1.51,

and 1.59 and top one percent of your peer group in both periods meaning you're doing better on a risk adjust base than anybody else. as of 3/31 the total value of the fund is $35.5 billion. that's down from $37.2 billion on 12/31. so those are the highlights. we're going to do to compliance and then attribution. so for compliance, if you turn to page 13 and joe, you've mentioned, if you want to talk about upside and downside capture on the next page, i'd be happy to. i was going to skip that for now and save it for next quarter but i'm happy to hit that if you want. if not, if we go to the compliance page -- oh, sorry joe. >> i'll ask a question when you're finished presenting. >> thank you, joe. on page 13 is the compliance page, column two is the percentage of your total fund in each asset class on

3/31. columns three and four are your longer term targets and ranges. and you can see all of your allocations are within the board approved ranges except private equity. private equity, as you can see is above the upper limit approved by the board. that is due to two things. one, a good thing! troid natury performance -- extraordinary performance in private equity pushing the value of that value asset class up and the other part is in the first quarter private markets decline, so your total portfolio value declined meaning your private equity allocation rose verses that in all likelihood in the second quarter when we get caught up private equity value, this may resolve itself naturally so i don't think it's a cause for concern but it's

outside the range. finally the last column are your interim policy benchmark and it's where you can't get to target quickly and we rated you should be as of current and you can see your targets or your actuals are close to those interim policies -- again with the exception of private equity. if we go on to page 15, 15 is just one -- 15, one more, alo. this is just dollars, simply reflects the investment returns in dollars and your fund as a mature fund pays out more in benefits than it collects in contribution. you can see for the one-year period, that's roughly $500 million flowing out. that's not a concern. most mature plans face that. that $500 million is a percentage of your market values

about one and a half percent and for most funds, that number is in the neighborhood of 1 to 3%, so the liquidity issues you face at this point aren't that challenging. if you look at the three-year period, you can see over the last three years, you've paid out about a billion and a half more in benefits than you've collected, but the investment returns have been 11.7%. so, certainly, that's what you'd hope for and in fact that's a pretty extraordinary number. pages 16 to21 present risk return detail verses peers for various time periods. let's go to page 17 and look at the five-year period. for the five-year period, every one of the points in that chart is one of 61 public funds greater than a billion dollars in value

plotted on a return scale vertically and a horizontal risk or volatility scale. the dark circle in the upper left, the big dark circle in the upper left is sfers so you can see there's nobody of those 61 dots higher than you, meaning you've got the highest compound annual return over the five periods of your peers and very few have less volatility. that point way out to the way out is san bernardino and they operate a conservative portfolio and so you can see you are in the upper quartile and have high return and you have taken very little risk to do that. the other point on here is the dark circle or the blue circle, you can see it, it's just above the line. it's a light blue circle. that is your policy portfolio. and you can see that the actions of staff

and board in choosing managers and positioning the portfolio have resulted both in a higher return, meaning manager outperform znswer as well as -- out -- as out performance and lower volatility and that doesn't always happen to it has contributed to the overall value of the portfolio. since longer term result was influenced by the end point, if you go to page nine, i'm sorry, go to page 23. these are simply returns verses peer group by fiscal year. and what you'll see here that i find unusual is usually a fund that is geared to do well in up markets doesn't do as well in

down markets and you can see in this period, your fund in every year, even that fiscal year 2020, when the markets weren't that attractive, you still did far better than your peer group. and again, that's strongly influenced by manager selection, so again, when markets are great as they were in 2021, you're absolutely at the top. when markets have been less great, you still gotten about as much as you could out of a market environment as possible. what we're going to look at quickly is attribution meaning let's examine why we were able to out performance the policy benchmark and that we start at page, let's go to page 27 and do the five-year results first. so, this is the longer return period. if you recall over five years, you earned 11.9% shown 12

here for the portfolio verses 9.67 for your policy index. that difference is 2.3%. and here, we're going to decompose that 2.3% into allocation effect which is positive if you overweight asset classes that did well and you under weighted asset classes that didn't as well as other asset classes and you can see the sum total of that allocation total is 40 basis points and that's what you would like to see. it's hard to make it positive or negative because that's really market timing. but it's small and in this case, it's positive, largely because you overweighted private equity which did well and you under weighed equity portfolio which did poorly. so when you knew tralize that but

-- neutralize that, but it's 2% verses two percent verses policy and if you go down that column over five years, the selection is positive for every asset class. very consistent out performance with return. your benchmark for absolute return is t-bill plus five and you haven't gotten there. other than absolute return, everything has added value over this period. we knew the near-term was tougher, so i'm going to take you back two pages to page 25 which is the one year attribution results. again, while the total fund outperformed policy by four percent and the selection effect was small and again, largely due to the underweight of liquid request and overweight of private equity, that left

3.4% as the manager effect and you can see here the difference between the prior one is that public equity, the weighted return of your public equity portfolio on one year was negative 2. the weighted index was 6. you underperformance by a fairly substantial amount and again, that's the overweight to health care biotech technology in china which were the drivers of the long-term and have really not done as well as i think everyone knows in the quarter. i'd be happy to go through more detail, but again, the portfolio diversification and policy have stood you well in troubled times and we think that will continue to be true. as you heard today, we are trying to build out private credit more rapidly and the difference you can see here in returns on the one-year period, private credit, largely because it is floating rate.

it's seen yes, sir, it's secured, and it has a higher yield, you earn 10.2% on that verses liquid credit where the returns were much, much smaller in this or negative 4.2, excuse me, in the period. so again, policy, we don't think needs any changes, they'll be reviewed next year as you know. execution, public equity has been weaker than it has been. i don't know if kirk wants to comment on that. i didn't get into the detail but the combined effects of leverage and overlay were very small and slightly negative in this period as you would imagine, given the drop in risk asset prices, so i'll pause there and take questions. i'm happy to go into more detail if people want. >> since you asked or noted, i'll make a quick comment about public equity and what has, as al noted, what has helped us

tremendously over the last several years, it has been a drag certainly over the last year and that's life -- location to life sciences, technology in china. we remain constructive on all the areas there. particularly, for the life science in technology there's a shake out in both, i wouldn't be surprised if there's a private equity put under both sectors, china, we believe in that long-term secular opportunity that we've talked about in the past from greater disposal income and innovation and et cetera. we did suffer through the volatility as a result of the crackdowns in various sectors as a result of the common disparity initiatives and many of those have been relaxed. however, the greatest, we think the greatest risk, risks have increased in china and the greatest risks are the potential actions that policy makers here in the u.s. so what we remained

-- we have retained those overweights and it has been volatile the last several months but we're constructive on all three. >> commissioner discollege, i had a cup -- commissioner driscoll, i had a couple of questions and get to the complicated questions in a minute. the way the performance numbers show and i try not to look at the quarterly numbers, but since the leverage program is somewhat new, in the three areas -- the two main areas where it's used, total fixed income and total public equity on the total fixed income, use the leverage, whatever was purchased and it was a positive effect, correct? >> yeah. if, let me take you to that page, joe. >> hold on. let me -- let me --

let me flip it to the right paper. >> you're page 40. >> yeah, i think that's right. yes. >> yes. and let me take you back before we do that, hold on. to page 44. so, on page 44, you have the total fund with overlay and that is -- that matches up against bank of new york. as you know, the overlay has two components to it. there is an equitization of cash, meaning taking idle cash in the portfolio that accumulates through ordinary activities, dividends being paid and not being reinvested right away and alike and purchasing risk assets and so the affect of that in a

quarter where both asset classes drop is negative. and then you have the leverage activity which given the way you operate leverage is fairly conservative and can be positive. when you put the two together at the total portfolio level, the impact is a very slight negative and you'd see that by comparing the total fund with overlay against the total fund x overlay for one year, it's an 18 points basis and that's drop to go 12.8. that's the total program. everything is being counted. if you then go to the page you've talked about, joe, page 40, we'll look at the same thing for page, public equity, i'm sorry. it's on the same page, page 44, you get public equity overlay and public equity with overlay

unlevered. unfortunately, these two lines are not labeled as they should be, so it's not the total impact. it's just one component. so, if you looked at these, joe, and i'm sure that's why you're asking the question, it would look like the overlay added value in equity and it added value in fixed income but at the total level, it detracted and that has to do with the way this labeling happens in the below two do not reflect both -- aspect. they reflect one aspect and we'll change that labeling and it was something we took from bonnie, so to give you the right picture accident it's the top line and the net effect of overlay, it was a negative but

when you decompose those, leverage added a little bit and you can't see that here, so hopefully that's not too confusing. but the labeling on these columns don't let you see that easily. >> okay. well, thanks for your answer then. that helped clear up any confusion that would have continued. and obviously, the next quarterly report, maybe it will be fixed. >> yeah. thank you. yes, it will be. >> the use of leverage is new and that's why i'm monitoring it. once, it's a small number. let me go to the second -- >> let me comment on that and i don't know if anna is on the line. when we did the original analysis with anna a year or so ago, we were in a different world than today. so, we were in a world where interest rates were low and not rising and the outlook for risk assets was fairly constructive, so in that environment, leverage made all the sense in the world and what

we modeled was getting cheap leverage and in effect, investing in the total portfolio. that world has changed over the last year. the cost of borrowing is high and rising or at least it's higher and rising and the outlook for risk assets is less attractive. and so, rather than move ahead full bore and leverage the total portfolio, the implementation has been much more conservative and so, the impact overall is very small. and it has been very well done and controlled against an environment that is not as attractive looking forward for leverage. >> okay. well, i'll make sure i will not get my expectations for the use of leverage to get out of hand. >> yeah, absolutely. >> there's a tactical issue about allowing it to happen and whether or not geometric makes a decision to buy or not buy. i

guess that's an evaluation the team will have to keep track of. >> that's right. and they do. >> okay. again, it's a small number but as the market stabilizes going forward, maybe it will be more use to it. it's a small question. i want to go to page 12 and this is the quarter report with the fiscal year ending and i'll expect a better answer but give me time to think about it. your end of the year fiscal years -- >> yep. >> the number i'm going to draw your attention to on page 12, the second table under the down capture, you'll see the number 42.55. >> yes. >> okay. believe it or not, i ignore the numbers in the print and cease the ranks with our peers for a couple of reasons. >> yeah. >> that looks like a good improvement on reducing the down caption number which i assume we

want a lower number of that verses a higher number in the up capture, correct? >> that's exactly right. >> okay. i'm just -- i want to understand, there are many factors but why do you think the main factor is why the down capture improved? we have the five and seven but changes over -- >> down capture is when markets go down, what traction of that down shows up in our portfolio? so you want that number to be lower. and then the up captures is the opposite and as you can see here, the upside capture hadn't changed all that much. downside capture has improved. i would, and i don't have the details joe, but i would say most of that is probably due to the movement from liquid, public fixed income to private. because remember in the one-year period

alone, the return for your private credit was something like 13% verses public fixed of negative 4%, so if you'd left that money in public fix, would you have captured a lot more of the downside. i'd have to do more analysis but i think that's the big piece. i think read assets and maybe even private equity have helped a little bit but i think the big one is the shift from public fixed income to private fixed income. >> okay. well, again, three months from now when you do that report, you'll have time to analyze that. >> yeah. >> two. one of us to make the commitment in funding, the asset return portfolio was reducing the draw down. and i see a connection between draw down and down capture. >> yeah. >> that's one. two, again, these are great numbers. there's many aspects about management selection and the allocation to the sector and allocation to

private equity, but i do look at the numbers. in terms of the total overlay verses policy is perhaps the best one to measure verses our peer group that's in the metric because we're 15% liquid. adjusted for that, how well are we doing if a board made a policy decision to be more liquid which then makes a big emphasis on the cash management program that staff and director lang and whoever else is in involved has to monitor that careful, that's one of the operational risk we're make and take and it looks like it's paying off for us but i want to make sure we are attributing what is working very well so we can continue to do that and if this is something that's a problem, we have to focus on it to fix it. we're getting compensated for risk plus by staff work. that's an

observation but i'll ask you to come back in three months from now -- now with the fiscal year ending and as you have done your research, you'll have a better answer. >> i will say joe, this is public funds greater than a billion so i don't think there's 60/40 fund in that group. they may not have as much private market than you do, but across all six clients, all of them are in that 50% private so it probably could be a purer comparison than it is but it isn't as if you're comparing funds that doesn't have private substantial markets, not much -- not as much as you do but we'll do the analysis to give you better insight. >> thank you. >> maybe one other comment and i don't know if people picked it

up, but the public market u.s. kirk commented on, the international developed has not done as well recently either. and i did want to comment that as you know, you reformed that over time and the remaining two managers have a slight growth bias to them in a period where value has finally done something in the last quarter, so some of that under performance in the unter national market is style related and not manager under performance and i wanted to make that comment. other than that, i'm happy to pause for any other questions or we're done. >> as usual, comprehensive report. >> thank you.

>> i'm sure everybody knows, but -- [laughter] >> commissioners, any further questions of alan? okay. so, madam secretary, this is an action -- discussion item only. correct? >> discussion only. so we'll take public comment. >> yes, please. >> we have bill in person comment at this time. a reminder to callers to press star three to be added to the queue. moderator, are there any callers on the line? >> madam secretary, there are no callers on the line. >> thank you. hearing no calls, public comment is now closed. >> item no. 10. discussion item. chief investment officer report.

>> okay. so, let's see. [multiple voices] >> just to give you heads up, is it possible to schedule a break around 12:00, i would appreciate that. i don't know if we can do that prior. >> i will be under nine minutes, i promise. [laughter] >> all right. we'll take -- we'll do kirk's report and then we'll move, take a break for a half hour. and carryon. >> okay, thank you, commissioner heldfond. i'll be brief. given that we just had the performance and the challenges in the first quarter and the you know the challenges facing the market and they remain and it grappled with policy tightening and inflation, rising commodity prices combined

with china's lockdown. despite a lot of volatility in the month of may, the equity and fixed income markets were actually slightly positive in the ci -- it was up six basis points and bonds measured by the bloomberg ag index was up 60 full basis points. and equities, u.s. equities were up slightly less than developed markets. and merchant markets or i'm sorry, they were up 75% basis and -- sf everybody rs assets for the month were down 70 basis points. most asset classes were positive, real asset and fixed income and asset returns for the month, however, we did see losses or negative returns in private equity and public equity as described in a couple of different instances and we're seeing the, and you have note, private equity has lagged

performance and we're seeing those marks at the end of the year. that has modest returns and the market hasn't done anything to stem the losses year-to-date. and equities are down anywhere between 11 to 12%. diversification on developed u.s. or merging hasn't worked because all markets are down between 11 and 13%. it's noted in prior comments the bond market had a tough year with the u.s. ag down by 9%. the shorter of the duration, the better the results. longer duration, fixed income categories have been really hurt this year. with that as a backup we estimate the sfers asset for the calendar year are down 8.3%. though we do have some good news in the form of real assets and private credit has generated good returns for the year.

everything else is down led by public equity and fixed income. private equity (indiscernible) and it's modest for the year. what's important in the longer periods is to contract those returns and sfers is down -- in a 60/40 portfolio, they're down 10% prospectively. for fiscal year, which is quickly coming to a close, we estimate that sfers is down 1.7%. results have been led by real assets and private equity which is roughly 26 and 14% prospectively and private is 9%, all of our asset classes are negative for the fiscal year. again, we estimate we're down 1.7% or so for the fiscal year. that compares so a negative return of 10.7 and 5.7% respectively for 60/40 and

60/40/10 portfolio. i'll note the trust assets are approximately 33.5 approximately at the -- 33. billion in the end of the may and we don't have closed session items to announce. a reminder our next investment committee meeting is scheduled for wednesday, july 20th at 1:00 p.m. during which investment staff along with our consultants will provide updates for private market classes and private credit real -- assets and private equity. i want to acknowledge this is the last report that i'll deliver as interim cio and i have enjoyed and grown from this experience and i want to extend my gratitude to staff, my colleagues and peers. our manager partners for their support and encouragement over this period. and i want to thank jay for having confidence in me

to make that appointment. i'll always remember where i was when i received that call from jay. but this isn't about me. it shouldn't be about me. it's more important for us to acknowledge this is jay's last board meeting serves as sfers executive director and jay, on behalf of the entire investment team and the broader leadership team at sfers we want to express our gratitude for most of us and this is true for me and our ten years of sfers has been gratifying at sfers and we owe you gratitude. alan went through our longer term numbers and the success we have is a direct result of your vision, your determination and your excuse. more over, this is very important for the investment staff and you have created an atmosphere that shielded, protected us in such a way we

can go about and focus on purely investment matters and i was, i had a conversation with some of my colleagues at the airport on monday but we were discussing films and i was reminded of a quote from a few good men with apologies to jack nickelson it was clear that jay, we've had the luxury of not knowing what you knew and for that, we thank you. so jay, thank you from all of us and best wishes in retirement. >> thank you for -- i'd like to sort of chime in on part of this. we, the board, and i will speak and thank -- represent my comments for the whole board as well as president safai that we are truly appreciative of what you have done in this period acting as cio and to continue

what hard work that staff has done and we probably couldn't have done it without you and most appreciative and we are more appreciative that you'll be continuing powerful force on sfers investment model and at that, i personally take some comfort and i seriously look forward to continuing working with you on a professional basis as well as friendly basis. so, and i will reserve my comments for llfa, jay, until later, but thank you. thank you very much. >> you're welcome, scott, thank you for the kind comments. >> and a good report. so, madam secretary, this is information only. do you want to ask for

public comment or i'm sorry, any questions by the commissioners? >> yeah, i just wanted to echo what commissioner heldfond said. kirk, it has been a pleasure working with you so far and you know, i just joined and you have done a tremendous job of keeping me onboard and i think just stepping up to the role, so i'm really excited to continue to work with you and i think you would -- no one could have done it better than what you have. >> thank you! >> thank you very much t. was a difficult year and obviously it's not over yet, but thank you for paying attention to all your duties and working hard and continuing, thank you. >> you're welcome, thank you, john. >> and kirk, for me, i think i

echoed my comment the last board meeting but i would like to thank you for your commitment and dedication to the investment team and also to the duties of the overall investment staff. you've done it very well and we're appreciative to all that you have done and for your team and just holding everything together while we try to go through the process of just, with this whole thing with covid and everything else and remote working, it has been very difficult and investment team didn't skip a beat and i want to thank you and the entire team for just managing through it and through your leadership. >> thank you. >> kirk, i would like to thank you as the rookie on the team. you were the most proactive in reaching out and making sure i was as prepared as possible and hit the ground running and thank you for being proactive and

helping me that way. >> sure. >> okay. with that -- >> mr. -- i'm back. >> great. okay. >> thank you, sir. >> i'll turn it over to -- >> let me wrap it up. we have to take public comment, did we take public comment yet? >> no. >> we haven't taken public comment but let me say i echo all my colleagues here. thank you for your tremendous work. this has not been an easy year and a half, given all the pandemic, all of the different disruptions within staff here, you and jay have been phenomenal so i really appreciate the interim role you've played and all the work you have provided and the help you provided for the transition for the new leadership of sfers so i really want to echo what my colleagues said, thank you again, kirk. with that, madam secretary, can

you call, will you do in-person public comment first. >> we have one in person public comment. fred sanchez from protect our benefits. >> we have to turn it on, fran. >> okay. fred sanchez from protector of benefits. i wanted to thank kirk in person for being seamless in transitioning after bill left. you have done a wonderful job and got him staff and everything. yeah, i'm sure you'll continue in some role here. good work. but i felt it was really important for me to come here in person to thank jay on his last meeting. jay has been a good friend to all the members of the retirement system. i mean, he's just done a fabulous job and i know he's going to have a fabulous

retirement and i wanted to thank him for just being, you know, a great manager and administrator and a person that who was approachable and he helped our organization by doing the right thing towards the members and it's nice to see all the trustees here and commissioners in person, it has been a while since i have been in this building so it was appropriate to thank jay on his final meeting, thank you, jay. >> thank you. moderator, do we have further calls? >> madam secretary, we have one caller on the line. >> thank you. caller, please state your name, your two minutes begins when you speak. >> yes, this is john ferland again. i just wanted to reiterate what everybody has said. i want to thank jay and kirk for their service. kirk, particularly you've stepped in during a very difficult period.

bill was lucky he got out near the top and you were unlucky and you got in a different and difficult marketing. you have done an excellent job. i appreciate it. i want to call attention to the tables in your report and i'm going to restate what i stated in my general comment and looking at the table in the planned value and on page one, the fiscal year-to-date for return is 23% for private equity and it's 14%. that's a 37% gap, that's not reality. and i know you know that's not reality. you know, you've mentioned the leg -- you've mentioned lags and there are lags but the fiscal year and year-to-date return are worse than showing here. it can be rectified by the market getting better and you won't have that private equity of the market but don't fool yourself, it's worse than showing right here and i

think you guys -- i'm not trying to claim this is deliberate or fraudulent or anything else, but 37% gap between public equity and private equity returns in your fiscal year-to-date is not reality. i guess that's it. and again, thank you, oh, one other thing. i noticed absolute return, this basically flat -- >> 30 seconds remaining. >> from 2016 to 2018, i bothered you guys a lot at the public meeting which i no longer attend, trying to support that absolute return allocation. so i'm glad to see that it's actually finalize

>> we may resume open session of the retirement board meeting of june 9, 2022. >> great. >> roll call. >> yes, please do roll call, madam secretary. >> thank you. commissioner bridges? >> present. >> commissioner driscoll? >> present. >> commissioner gandhi? absent.

commissioner heldfond? >> present. >> president safai? >> present. >> commissioner thomas? >> present. >> thank you. we have a quorum. >> wonderful. madam secretary, please read item no. 11. >> item no. 11, action item, sfdcp target date funds, request for proposal. >> good afternoon, commissioner. thank you for your time today. i'm steve moy the deferred composition manager and filling in for diane. this is a hands off approach to investing and the plans default investment alternative. currently, rustle investment is the investment manager for the targeted funds and the most recent contract went into effect january 1, 2017, and set to expire december 31, 2022. with the end of the current contract

approaching as part of our due diligence, last september, staff and our consultant conducted a suitable analysis for the committee and came to the conclusion that the customs targeted funds series provided the best fit for our plan. over the past month, staff put together rfp materials for the upcoming (indiscernible) manager. this proposed rfp was presented to the deferred composition committee may 26th and the committee voted unanimously to forward the rfp to the board with recommendation for approval. first, we have benn tailor presented to the board a high overview including the scope of services involved and steps on the process and timeline. for your reference, we have included a draft of the rfp and accompanying rfp questionnaire. we can answer questions that the board may have regarding this process. let me turn it over to ben right

now. >> thank you, mr. moy and hello commissioners, can everyone hear me okay? >> yes. >> great. it was a long pausing. i got worried for a moment. i'm happy to share the document if anyone needs me to share the document as a presenter depending on the questions -- questions asked. we reviewed this with the dpd committee and there's one change. question ten was added pertaining to the necessary insurance on warrants. with respect to the approach to the rfp compared to the prior approach there's conceptual differences relative to the last rfp that was conducted. the principle differences is we conducted a number of these studies and rfp's for our clients in various capacities in recent years and found it's most important for us to focus on glide path development and from

our experience with the custom plan here and elsewhere to really get a sense of both how an organization is able to conceptualize the full package of a given client in the unique situation so where it's custom to you. and also what they put into the development of the glide path and how sustainable that is resource within the organization. as a result the qualifications and scoring changed. currently the scoring proposing 40% for qualifications and 25% for fees and 25% of the propose guide. that's an open ten percent of an interview and finals. with respect to the questions that are in the rfp, they're listed in appendix a. the components evaluation are the warranties for the minimum qualifications which are questions one through 12. for information and background 13 through 30, the askers on management and business size and scope, the questions 31 through

33. personnel, 34 through 40. (indiscernible) process, 41 through 46. and implementation, 41 through 55. and communication, 55 and fees, 58 and 59, the section on cybersecurity has been added relative to the last turn around is when we would expect with the revolution of the space and the gap between the two rfp's, questions 70 through 72. other questions, 73 through 75 so 75 questions total. i think overall we're going to get a proposed glide path which may not be final but close to final. as well as a deep illustration of the vendors approach to crafting a specific rfp glide or tpa glide path rfp for you and we'll have details on how to interact with oya and rebalancing and so

forth. that's my high level summary and happy to answer questions or screen share as desired. >> any questions? >> i have one question. it's not a question, it's just a request. ryan, when you do the scoring and evaluation, i know it is very difficult if not almost impossible to compare the performance of glade paths they have -- glide paths they have recommended to other clients but maybe you planning on studying this to see how effective it has been but i plan on looking at that as well and there's no one right answer for all their clients but i'm trying to determine how they designed the glide path and how effective it was in terms of helping people invest. >> thank you, commissioner. i recognize the importance of that as well. i would note given the division of labor, specifically

here at san francisco where fund selection is under one purview and the asset location and design is under a different purview. we're to evaluate exposure and approach in the capital markets expectations in their detain as opposed to the -- so that's why we also focused very much on the asset allocation elements strictly in this case as opposed to manager selections since the vendor will not be engaged in manager selection. recognizing that, how they go about doing that and what the performance record is very important. from an allocation standpoint and from an index application standpoint from that, we'll take that into account. this won't be a primary factor of evaluation in the same way the customization to you will be. >> thank you. >> and thank you. >> any other questions, commissioners? seeing none,

madam secretary, can we do public comment? >> thank you, we have no in person public comment at this time. a reminder to callers to press three to be added to the queue. moderator, are there callers on the rhine? >> madam secretary, there are no callers on the line. >> thank you. public comment is now closed with no public callers. >> great. i don't think we take action on this item, right? >> it is an action item. >> sorry. that's right. it says action item. >> make a motion. >> sorry. >> mr. president? >> yes. >> i move to adopt staff's recommendation for targeted 8 fundsman man proposal. >> great. >> a second. >> second. okay. madam secretary, roll call. >> thank you. commissioner brims? >> aye. >> commissioner driscoll? >> aye. >> commissioner heldfond? >> aye. >> commissioner safai? >> aye. >> commissioner thomas? >> aye. >> thank you. we have five ayes,

motion passes. >> wonderful. >> thank you, commissioners. >> madam secretary, next item, please. >> item no. 12, not used. item no. 13. discussion item. deferred compensation committee report. >> great. who is presenting today? >> mr. president, the deferred compensation committee report stands as sub committed and the previous action item forwarded to the board was approved and the item prior to this, so there's no further discussion on deferred compensation committee report. >> great. thank you for that update, commissioner bridges. any questions? commissioners? seeing none. madam secretary, please call public comment. >> madam secretary, i believe

you're muted. >> thank you. sorry. we have no in person public comment at this time. moderator, do we have callers? >> madam secretary, there are no callers on the line. >> thank you. hearing no calls, public comment is now closed. >> great. madam secretary, please call the next item. >> number 14, discussion item. san francisco deferred compensation plan monthly report. >> it's going to be one. i'm here to present the deferred compensation plan report for 2022. last month, diane gave a detailed quarterly report on multiple reports for the spdcp. i'm going to provide brief updates regarding the plan and as soon in the reference in the monthly report, as of april 30th, it was $4.46 billion and as of yesterday that number remained the same at

$4.46 billion as well. so not much changed to plan balance over the last month. additionally, we recently updated our line up. we added an online presentation titled getting a raisin crease or sfdcp contribution amount into our webinar rotation. this presentation covers how increasing contributions to the sfdcp can be beneficial to participants and providing tax averages and having more money saved for retirement. lastly, i wanted to point out we have seen an increase of group meetings held by councilors which coral lates more employees returning to the office. the number increased every month this year. in fact, the number of group meetings in april was nearly three times the number we had in january and we an -- we anticipate the numbers getting higher. those are the highlights i wanted to cover. if you have any questions, please let me know, otherwise, i would like to

thank everyone for their time. >> any questions, commissioners? >> great. seeing none, madam secretary, please call in person public comment first. >> no in person public comments. press star three to be added to the queue. moderator, any callers? >> madam secretary, there are no callers on the line. >> thank you. hearing no calls, public comment is closed. >> great. madam secretary, please call the next item. item no. 15, action item. election of board president. >> okay. great. is there -- >> i nominate commissioner safai, president of the board. >> i second. >> great. okay. so, before we take any action on that, we have to take public comment. madam secretary, please call public comment. >> thank you. no in person

public comment at this time. moderator, are there any callers? >> madam secretary, there are no callers on the line. >> thank you. hearing no calls, public comment is now closed. >> thank you. commissioner driscoll has made a motion and seconded by commissioner heldfond. before we take the vote, i want to say i appreciate the opportunity to serve as president. i was filling out of the infill term of former commissioner casiado, i appreciate working with commissioner heldfond and all you commissioners and our new city attorney and our biggest accomplishments was finalizing and hiring a new ceo and cio who will begin monday. i will have the honor of swearing her in on monday. so, thank you all. i look forward to this. i know normally we rotate and i believe in that rotation and so, i will

fill out this term until the beginning of next year and then we will have the transition back to the normal alternating leadership, so thank you all for your support. madam secretary, please call the roll. >> commissioner bridges? >> aye. >> commissioner driscoll? >> aye. >> commissioner heldfond? >> wholeheartedly aye. >> president safai? >> aye. >> commissioner thomas? >> aye. >> thank you. we have five ayes, motion passes. >> great. madam secretary, please call the next item. item no. 16, action item. election of board vice-president. >> great. >> i'd like to make a motion to -- i'm sorry, go ahead.

>> no, go ahead. >> i nominate commissioner scott heldfond for vice-president. >> second. >> seconded by thomas. okay. public comment. >> no in person public comment. moderator, do we have callers? >> madam secretary, there are no callers on the line. >> thank you. hearing no calls, public comment is now closed. >> great! okay. so, there's been a motion made by commissioner bridges. seconded by commissioner thomas. roll call vote, please. >> commissioner bridges? >> aye. >> commissioner driscoll? >> aye. >> commissioner heldfond? >> aye. >> president safai? >> wholeheartedly aye. [laughter] >> commissioner thomas? >> aye. >> thank you. we have five ayes, motion passes.

>> great. all right. madam secretary, please call the next item. >> item no. 17, discussion item. amended executive director's report. >> jay, take it away, your last executive director's report. [laughter] >> unmute, man. [laughter] >> yeah. >> we can hear you from here. >> but he can't. >> jay? >> we can't -- can you hear me now? >> now, we can. >> there you go. >> i have to hold the button down. i wholeheartedly present this final executive director report, i'm assuming it will be renamed starting next week to the ceo/cio report, so as i retire the executive director report, i have five things that i would like to report to you. first of all, pleased to announce that our department budget as approved by the

retirement board including all of the additional new positions were approved through the mayor's office as well as the board of supervisors. >> bravo. >> we have the luxury of having president safai on the budget committee and so, i'm very grateful for the board's support, the mayor's office support. we have a new position that we will be able to start recruiting for and filling in october and again, it was unusual for me after 23 years of doing a budget to see a year where we received almost entirely all of our budget and in particular, all of our positions so again, i think we're set for the next two to three years as far as with resources. now, the challenge will be to fill those resources. the other thing that i wanted to brief the board on and this is very technical but i do need to make this announcement and i

know some of you will be interested and know what i'm talking about but the supplemental cola for the folks who were hired by the city after january 7, 2012, were changed, in that if there was a supplemental cola granted to these folks in the first year that the supplemental cola was not paid to them that the previous supplemental cola would disappear, meaning you would revert back to your base pension as if you had never received the previous supplemental colas. so, i'm very proud at the end of my career that we did have a year in which we were more than 100% funded, so those folks who were hired after january 7, 2012, and are currently retired, they received a supplemental cola, starting retroactive back

to july 1st. now, we know that it is not only highly unlikely but nearly impossible for us to have sufficient access earnings to pay a supplemental cola for the coming year to pre-empt the idea of overpaying these folks, we're going to be sending a letter out to these folks basically saying that their supplemental cola as awarded, effective july 1, 2021, will end after their june retirement benefit. the timing of this is important because the board only takes action on the supplemental cola in february, so it's going to be until next february before the board takes official action determining that there are not access returns sufficient to pay a supplemental cola and we didn't want to put people in a position of continuing to pay benefits that we are almost

100% positive will be -- that they won't be eligible for and that we don't want to create an overpayment situation and in some cases maybe the impossibility of collecting monies should say a retired member die, so i just wanted to let the board know this letter will be going out in advance, it should be going out in the next week or so, so that the retirees who are impacted and it's a smaller group of the retirees, it's just those, think about it, those hired by the city after january of 2012, they have the age necessary to retire and be receiving a benefit but a letter will go out to them notifying them of that. can you hear me now? okay. the reason i amended it is i wanted to provide the

retirement board copies of two charter amendments that have been introduced in the board of -- board of supervisors and the first one is related to the forfeiture of benefits clause that's in each of the retirement plans under sfers and the second has to do with the retiree supplemental cola. as you recall, protect our benefits and the retiree group had been working alongside members of the board of supervisors and this body to fix the pre-2019 retirees who based on a court decision not eligible for supplemental colas so this is an attempt to create not a complete, make a whole fix but at least a going forward fix for these folks and who i have asked, i have asked cecelia who

has been monitoring these and in some cases drafting these, to provide a brief overview of the two charter proposals, if cecelia could help you out with that, thank you. >> happy to do so. good afternoon, commissioners. first is the pension forfeiture charter amendment. currently, it is required to have a criminal conviction for a crime of moral turpitude. this will add a civil administrative process to determine if someone committed a crime of moral turpitude so a pension can be forfeitured if there's evidence that a member has committed a crime of moral turpitude. and this second charter amendment has two components. the first as jay

mentioned would restore the supplemental cola to pre-1996 retirees who have been subject to the full funding requirement as a result of the protect our benefits lawsuit and so, this amendment would eliminate that full funding requirement for them and then it will also adjust the base retirement allowance to account for the supplemental colas that this group did not receive and that is for the years 2013, 2014, 2017, '18 and '19, except that there is a cap for retirees who receive a pension of over $50,000 a year which comes out to $4,167 per month and the second part of this charter amendment would be to empower the retirement board to enter into a contract with the

executive director. and that could be either ceo, cio or ceo, so currently, the retirement board is restricted to the civil service rules and mou with mea and the administrative code in setting the terms for the cio, ceo, but this charter amendment would give the retirement board the same powers as the mta and puc boards to enter into an individual contract with the director and so you can set the terms not related to what's currently offered by the civil service system. so, with that, if anybody has questions, i'm happy to answer them. >> yeah. i would like to -- i started, can you hear me? >> yes. >> okay, good. so, i'll start with the second one. we led that process. and i want to thank

cecelia, jane, karen and the team for putting the numbers together. we worked with the controller, ben and we met and discussed with members of organized labor and i want to thank commissioner driscoll, commissioner thomas for their help as well. along with commissioner stansbury who is not here today and so everyone knows, the organized labor is in full support of this negotiation, protect our benefits is in full support of this charter amendment. this was years in the making. i think the thing that ultimately got my attention was regardless of the history, roadless of how it started -- regardless how it started, it was a benefit they had for years, the older retirees and it was taken away. and that was where a lot of the confusion began. there might have been some confusion on whether that was a benefit that should have been conferred on

them in the beginning and i didn't want to dive into that. i wanted to say, who was or who is this group of retirees? majority of them, so everyone knows, retired prior to 1996, majority of them are in their late 70s, early 80s. many of them and almost all of them, but many of them i would say, when they worked with the city, did not -- the city did not contribute into social security for them. that wasn't a part of the plan at that time. so, many of them are living in poverty-like situations and they came to us. they put forward an argument. their initial argument was too expensive. we did not agree that and they wanted retroactive pay but we setted with perspective going forward but adjusting from the years

that they would have received so that the starting point would be a little bit higher than where they are today. everyone agreed on that. the other thing, too, to note is that 70% of these individuals, 67% to be exact make less than $50,000 a year in pension. that's why we capped the full adjusted benefit for them for that group because we knew we would get the vast majority. almost 2/3 of the group and the remainder, we said we're going to cap your benefit, we're not going to give you anymore than x amount. that comes out to, from the controller's estimates, 5.8 -- $5.59 million a year. we're going to spread that out over ten years and that benefit will be dated off at that time. i don't think i missed anything

else, other than we will have this at the full board on monday, june 27th. there will be negotiation, i don't negotiate, i'm sorry, public testimony and public comment and i don't anticipate any amendments. i think we have negotiated the amendments in advance. so, that's that. the second one came to my attention the day -- the last day chart ear mendments were allow -- the last day charter amendments were allowed and commissioner -- he was building off a report from the injury and i don't know -- injury. to remove someone's pension benefits, i would

imagine, not imagine, but i know for certain this will require significant meet and confer. they'll be a lot of impacted labor groups and i believe they're going to have a lot to say about that item. that's all you have. any other questions or comments from commissioners? >> just a language regarding that compensation for executive director, ceo, is that language identical to what is in the other two departments. >> sorry, i didn't speak about that. that was the second part about the cost of living adjustment and the second part was, and let me explain the reasoning behind that. when we were going through the final process of trying to finalize our new hire, there was a lot of confusion around whether our ability, we had the ability -- fishily not from city attorney, from the commissioner's side,

whether we had the ability to offer a contract and negotiate directly with the new hire. after conferring with our city attorney who was very clear that we did not and that that -- that the new hire, whoever that person may be, would ultimately be bound by the constraints of the manager, employees association negotiated contract. so, we found a way to finalize that through a negotiation with the human resources department and the representative of labor group, but we wanted to correct this going forward and so, the second piece of the charter amendment, very, very small portion is that it would confer on to this body the ability to negotiate directly a contract with a new hire in that position. >> president safai, can i add one thing?

>> please. >> that was, i mean, i thank you for taking that and pushing it forward and coming out where we did because without it, we would be still in a search committee and i didn't want to be head of a search committee that didn't have candidates. >> right. >> for the city of san francisco, this was a real positive forward end of the 2 e century and i don't -- 21st century and i don't think it could have happened without you and others pushing this through. >> thank you. and you played a big part along with commissioner stansbury and our team and our city attorney, so thank you for all your help on that as well. but in the end, i think the final solution that we came up with was the only way we could confer that authority to this body was to go to the charter and because we were going to the charter with this retiree, cost living adjustment, we felt it was the right time to add it. we didn't think it would dilute

or take away from the charter amendment. >> in response to commissioner driscoll's question? >> yes. >> yes, the language closely tracks what is already next says tans for the puc and -- >> there's only two body that's have that is sfmtu and puc >> when you say track -- >> it's a hybrid of the two and maybe a little bit of difference but i can't, in substance, it's similar. >> we still retain the authority. i mean, we currently, this body has the authority to offer and hire for that position. we retain that ability to offer and sure for that position. it essentially creates the flexibility for us to no longer be bound by the perimeters that are existing and

we can negotiate a contract. >> it would be helpful if we can say we're not setting a new precedent here. there's a precedent for very senior people. >> thank you for pointing that out. we are not -- this will not be the first body. the argument is there that we have a separate funding source and we have an independent commission, independent in the sense that this is not a mayoral dominated commission. ultimately, the decision we make to hire for this position is not subject to mayoral approval. so in that regard, we mirror, actually, we don't. that gives us a different level of antinomy that the puc and sf mta do not. their

commissions make forward -- forward three names to the mayor and the mayor makes the final decision. if i'm correct, but in this case, we make the final decision. >> any other commissioner -- commissioner thomas? >> first, i would like to thank president safai and commissioner heldfond for the work that has been done on this and the prep and looking forward to seeing how it proceeds and i have questions on the ballot initiative if we can move to that one. >> i would direct us to the city attorney. >> just briefly reading through this, would this create a duty to prosecute or prosecute crimes on the retirement board with constraints of asset forfeiture portion? >> the retirement system is authorized but doesn't have a duty or obligation.

>> how would charges -- >> it has to be a referral from the employing department and the retirement system can bring charges or not in the administrative arena. >> so, in this sort of a quasi criminal justice system context, the department would take on a charge in its own hr process and then refer it to the court system of the retirement system to litigate it or to investigate it and then litigate it or will all the investigations happen at the department's hr and sorry if i'm loading these questions that you don't -- you know. >> well, the referral would be to do -- it would be to the retirement portion. the retirement system would initiate the charges and it would be administrative so it wouldn't be in the courts but going to an administrative law judge,

similar to how the disability hearings are currently run. >> okay. and who would handle the prosecution of this, who would be the prosecutor? >> it would be, retirement system would be the moving party and city attorney's office would puft -- would put on the case. >> when you describe criminal turpitude, does city attorney handle prosecutions like this? >> no, not really. >> we would have to build new capacity around that, thank you. >> i have a question on that. i'm glad you brought that up. the way it was explained to me by the sponsor, it wasn't just the department head that could initiate. it was also the mayor that could initiate. are you aware of that clause and i haven't read it? are you aware of the clause that says who can initiate because i asked after it was conveyed to me that it

wasn't just the department or department heads, it was also the mayor and i asked, what about members of the board? and i didn't get a final answer. >> the last question i saw was the retirement system upon notice by a city department. the mayor's office is a city department. it could be. >> excuse me. >> the retirement system initiates upon referral by a city department. >> and the mayor's office is a city's department? >> right. >> so is the board of supervisors. i mean the clerk of the board, the clerk is -- >> can you look into that? can you get a straight answer for us on that? >> yeah. >> the reason i want to know is because that might be a tricky way, i'm not saying, let me not say tricky like that, it might be a less indirect way of conferring authority to elected

officials that are considered a part of the department. i would like to understand that better. >> yeah, i can show the language when we're offline. >> so you believe then the mayor's office and the board are both departments and then that would confer the authority on them. >> it says city department but i can look at that. >> if you can turn internally with city attorney, that would be helpful. i would like to know that. i would imagine that the human resources department, department of human resources would notify us if there's going to be a meet and confer? i mean, they normally do that? >> i believe they are intending to do that on this one as well for both. >> have they given you that direction? on the one we did, i don't think so. but they said they maybe, i don't know.

>> we would have to check with the employee relations. >> they did send that e-mail and said it would. they have to send the message out and everyone is -- i heard they're going to say we don't want it. we're okay. but we'll see. that's right. that's true. >> one further question, is there an existing standard for city departments across the city to dermal gagss -- determineal al gagss or do the department defer those because if the origin point of the allegations are coming from department hr's, maybe the boards of sups have a different process than puc and the mayor, so how do we make sure all the city employees are being treated the same? sorry again, if i'm asking questions that are -- you didn't have an

answer prepared for. >> the legislation doesn't have anything about the process that each department must follow. but it would have to go through the retirement system. >> so they each have their own -- they can all have their own process theoretically? >> yes. >> thank you. >> all righty. sounds like the one on moral turpitude, we need follow up information, it would be helpful, if you can provide that to us, madam city attorney. >> i would remind the board -- >> you're muted. >> i would like to remind the board that context for which i provide this information, the board is that under the charter, the retirement system is required to submit a cost effect report to the board of soup -- board of supervisors to be a

part of the file and we already have kyron working on a cost estimate of the cost for the one-time pension adjustment for the pre-1996 folks and we anticipate we'll get that number. we did work with the controller, benn rosenfield to come up with estimates and especially impacts on general fund monies for the city, but we'll have a former costing of that that we'll be presenting to the board of supervisors and i'm assuming that next month's meeting, you'll have copies of that cost report for the cost of the one-time adjustment for the missed five supplemental colas for these pre-1996 folks. now, we're also required to submit a cost effect report on the moral turpitude forfeiture and we've had discussions. this is a significant shift of burden and administrative costs to the retirement system. currently, we

wait for the criminal case to work its way through the courts and there be a final determination and that there be a sentencing and then we are notified and certainly we have no experts here as to what a crime or moral turpitude really means so we rely on city attorney. now, this will, as pointed out, not require the retirement board to pursue a rereferral from the department but it will put the retirement board in a situation to not do this. but it's not a cost but i'm glad we're having this discussion and we certainly are concerned as to what this will look like and what the board's responsibility is and the associated cost. we've talked to cecelia and she indicates that

before determining there is not a crime involving moral turpitude, there should be an investigation. we don't know whether they would have access to any other investigation that was conducted by the department or by, you know, so there's a lot of unknown but the real bottom line is, luckily and i'm knocking on wood, this doesn't happen very often but it does provide a significant shift in responsibility as well as authority to the retirement board and there will be time and associated cost that will be -- need to be bored by the retirement system in order to follow through with this if this were to be approved at the election. so we'll provide you a copy of that cost report for this item, also, but again, since this does not happen on a regular basis, knock on wood, you know, it won't be a

significant cost necessarily, but it certainly is a significant new responsibility and authority for the board. >> and in terms of the kyron final number for the retiree, isn't it anticipated and i know we had a solid estimate, do we anticipate it will come back? >> jay, we lost you again. >> we didn't have a solid estimate in that the kyron did not cost the charter amendment as it ended up and we have derivative of providing a retro payment and on going adjustment for these folks. >> we didn't do the retro. >> this will be a fine-tune of the costing and we should have that by, like i say, the middle

of next week at the latest. >> okay. just please make sure you send it to me. >> absolutely! >> thank you. >> anything else? >> yes. i do have two more. >> you have more things on here. >> yeah. >> i have a question on that charter amendment before we proceed to the next point. >> go ahead. >> on the, i know -- it's an incomplete draft the way it's written now and a lot of things had to be filled in but the comparison to the -- in the disability process and they're involved in the decision and sometimes it comes to the board, those cases -- city attorney basically reacts to the application made by a member. this process looks totally different in terms of, we would be expected to act once we're notified. my question is who will decide whether or not the charges should be filed, city

attorney? the executive director? or the board? >> as currently written, it says the retirement system so it's executive director upon advice by the city attorney's office. >> so, when you see the word "system", you think it means executive director. that's fine. knowing how -- i have raised this issue before, when we see retirement disability applications and city attorney says he's representing the board and i would say they're representing the city and not the system. it's a point of confusion and we get into this moral turpitude situation which is confusing and complex. this whole thing is being then directed and thrown on top of us, again, i'm trying to figure out a way if there's a way of clarifying that point? who will make the decision to file the

charges against a member, former member where it may or may not lead to their pensions being stopped? i guess you can make it as clear as you can, cecelia. >> i can refer your question to the deputy city attorney who drafted this measure. >> sorry. one more question. you'd mentioned that thankfully this is a rare event, knock on wood, that we see these sorts of encounters but from reading the way this is drafted, it appears that given that there's a much more -- there's a much more simple file, or as retirement system we learn about this organically, it seems like it could become -- this system is different than the normal criminal justice system. there

isn't an established track where this happens. an allegation can happen all the time and then if there's a duty to investigate that allegation before making a decision, it seems like there's the possibility that this could happen much more frequently, at least in the fact-finding component to determine whether or not an action needs to be taken. especially if it's any allegation coming from any department. somebody has to look up those, right. so it could be much more frequent than a rear event. >> and -- >> it would anticipate it's going to be more frequent but i think the part of the motivation, i believe is that this would not take as long as working its way through a criminal trial and that the league of public records request regularly on folks who are in the newspapers that have retired

and they seem to be focusing on why is it taking so long for the retirement system to cut off the pension, but again, not really having spoken to the sponsors of this bill but i agree with you that you know, working its way through and waiting for a criminal conviction and a sentencing is a very clearcut process for us and i would say maybe only a fraction of folks who may be commit wrongdoing against the city goes through the process to lose their pension so certainly, i would agree that this probably entails more referrals than we possibly wait for to hear about, be instructed by the city attorney's office to cut them off, so yeah, i would agree. i'm concerned of the questions that are being asked here, who has the duty to determine whether to

proceed and whether this is something -- the allegation is something that involves moral -- turpitude because we have seen over the years that city attorney, from the public's perspective, seen certain crimes that would seem to be moral turpitude and have determination that they don't involve turpitude. it's a part of the busy would be uncomfortable having shifted to us when the current charter is very clear. we act on a conviction coming out of a legal process. and cecelia and i have talked about what kind of due process do we allow. it will be an adversarial process we'll defer to. i assume the employee has the right in front of us to be represented by

an attorney, cross-examining witnesses and the investigation. it's a part of a business that we have never been involved in and i think from the retirement system's perspective, we would prefer not to be in the middle of. >> thank you. >> thank you. now, on to good news. [laughter] i'm pleased to announce that working with karen, we have been successful in recruiting eric who is a deputy city attorney who has been working on the labor team for over 20 years to be the deputy director for retirement services and we've been working with him over the last few months. he held up his decision because he was working with the city in finalizing the contract, the mou negotiations for the city. but now he has officially announced that he will be joining us later this

month. this is an important resource. someone that karen has worked with over the years. someone i'm familiar with for the last 20 years and i'm excited that he has a background both in pension. he represents the health service system and so, he has also some experience with boards but he certainly is not an expert on our pension law, but certainly did work on pension reform back in the day, so i'm happy to announce that. i have late breaking news from commissioner bridges that she just received news that the u.s. senate has confirmed her to her position on the in-- investment committee. >> federal tax -- >> right. >> tsp. >> sorry. >> federal retirement risk investment board.

congratulations! >> the largest public pension fund in the world. >> over a trillion dollars. >> and i did talk to commissioner bridges earlier as -- right after she had survived the committee hearing. [laughter] because she had quite an array of senators that we're very familiar with that she had to answer questions about and particularly they knew of her record here at the san francisco employee's retirement system, so congratulations to her and best wishes. she's promised that she will juggle her responsibilities there and she will maintain her near perfect attendance for the retirement board here. >> that's a big deal. >> congratulations, commissioner bridges. >> thank you. >> very well deserved and i think a tremendous career and

it's a big deal. you got a call from senator schumer. >> i did. >> back to more important business. exactly. >> hopefully, you'll continue to take my phone call. [laughter] >> go ahead, sorry. >> no problem. the last thing i wanted to do is update you on the return to work, anticipated return to work at the office. we were notified that as part of the contract negotiations, most labor organizations were negotiating an expansion of the in-person work from two days per week to three days a week so we anticipated we may be opening up in-person service or increasing in-person service to three days starting july 1st. we were notified earlier this week because of the surge, the covid surge that's currently underway that the implementation of this

three-day in-person is postponed until september 5th and so, we will continue to maintain or follow city policy and require staff to be here two days a week in person until at least september 5th and so, again, we are open for services on the 5th floor by appointment only and that there was just, seems like a delay in implementing an increase in the -- in the in-person service. finally, i'm going to keep this short because my staff knows i have a soft heart when i talk about things like this but i want to thank the board for the opportunity to work with you. it was unanticipated i would ever be in this seat. >> hmm. >> and i said ten years ago that

i would give you five years and i will say that the last ten years have gone by quickly and it has been a privilege and an honor to have worked with various members of the board. and i am extremely proud of the staff that we've built. i'm proud of the accomplishments that we have made and i will say that we couldn't have done it absolutely couldn't have done it without the support of the retirement board over the years, without the support of the mayor's office and board of suppose -- supervisors but i'll miss, not necessarily the retirement board meeting, but i will miss the association with all of you and in particular with the staff and again, i thank you for your support and i look forward to continued support. i need to receive my pension checks every month and

so, i think that we find ourselves in a very good, well-funded position and i appreciate that. so with that, thank you. >> wonderful. well, you will certainly be missed and thank you jay -- i know we have said this, but we should say it again, thank you for your tremendous service and importantly, i think you know, a lesser person who have walked away during the trouble time we had, but instead you leaned in and you stayed an additional years during the most difficult times for any organization to run during covid and to deal with all of the ups and downs and the daily changes and the stress and the uncertainties with staffing, all of those things and so having your study hand as part of the leadership of this organization really helped us get to where we are today. i was not here prior. those prior years but i did come

in for a short amount of time prior to the turbulence we've had and i've been really -- i've enjoyed working with you and i appreciate your ability to stay steady and stay with us and so thank you for sticking through this difficult time in helping us in the transition that we just are coming out of, so thank you for that. >> it's a lot of useful words when someone is con granl lating from here -- congratulating from here. thanks and congratulations and good luck kind of stuff. again, i made the observation, jay, i don't think you have missed a retirement board meeting since you have been the executive director. i'm not sure you have missed a committee meeting. maybe one. the reason i bring that up is what i hope you have time to do when you do retire/retire because we're such

a global fund and complex fund, the growth of it in the last ten years which you helped lead, i hope you'll take the time to take a few weeks off and travel and see this great big world you have helped us invest in and i think investment staff could prove it. we have invested all around the world. if we own stock on mars or the moon, i won't be surprised next to director kim. i hope you enjoy your retirement and thank you for knocking your lights out for all these years. >> jay, i would like to say thank you for everything because starting from on boarding meeting to the retirement board and listening to all of my rants and rages and at the same time, building a great team. to me, the team, the recruiting that you have done since i have been

here has been stellar so you're leaving a great team in place to carryon and to continue to build through the system and we're grateful for that because it takes time and effort to recruit and to find good people and you've done that and so, to your credit, we can continue to thrive because you've built a foundation for us and so, i thank you for your commitment, your dedication and i just hope and pray you just, as joe said, you enjoy life and forget what's a job. it doesn't exist. just have fun. you deserve it and you have earned it and i'll see where you are so i can be -- jealous but oon -- but other than that, i wish you the best. >> i want to congratulate you on your graduation and i appreciate being the rookie that you were willing to jump in there and help me connect to staff and the right resources and be able to

hit the ground running and then learning some of the recent history as i have prepared for this role and how you stepped up to the plate -- stepped up to the plate when needed. we have leaders who are really invested in this pension in keeping it not just safe but prosperous for generations to come. so thank you for the work you've done and the foundation i have laid here. much deserved graduation along with the trip abroad, apparently. >> thank you. >> jay, i'm going to make a chart, two words to say. well done! >> thank you! >> i just want to add, do what everyone said, i've joined during the pandemic and i had no idea how this really worked and you've made it so seamless and you have been available always and as everyone is saying, you have worked really hard during

many times and you thought you were going to retire, from what i understand, even a few years ago so i really hope you get to take the time off. i will be jealous. but keep us all posted and i hope to stay in touch. >> thank you! >> all righty. well, let's go to the next item. >> public comment. >> oh, public comment. >> there's no in person comment. so in person comment is closed so call online public comment, madam secretary. >> thank you. moderator accident any callers. >> madam secretary, no callers on the line. >> thank you. hearing no calls, public comment is closed. >> perfect! now, we can go, madam secretary, call the next item. >> certainly. item no. 18, discussion item. retirement

board member good of the order. >> i'll say that i think a lot of what i was going to say was discussed in the previous item. so, the charter amendments are there and we'll have follow up from our city attorney. we thank jay for his tremendous service and thank kirk for his interim service and i'll be swearing in our new ceo, cio on monday morning and we'll do a quick ceremony in my office. i think that's a formality, is that right? yep. and then she will get to work. i know she's already gotten to work so we're excited for her to begin and got some big challenges to embrace and i think she's ready to hit the ground running. i think darlene is trying to setup meetings. she would like to have meetings with all of you. i already had my meeting with her,

darlene. i don't know if she needs another meeting. you can let me know. huh? >> i'll let you know. >> i had a meeting with her but i think it would be helpful for all of you to meet with her, give her your inside thoughts. listen to what she has to say. >> excuse me. darlene, the same thing with -- as supervisor safai, i've had a meeting too, so you might check. >> no problem, thank you. >> all right. oh, and then -- that's it. that's it for me. anything else, anybody? >> just a general comment. looking from the consent calendar, the list of people retiring this month and i'm sure next month, it will be higher, the pandemic effects operations to the fact that the analyst who

meet with members retiring told me it was done remotely for the last two years and staff has been hustling to make sure service to our members is maintained again, it's a thank you for jay, and having our staff work so darn hard when we're running shorthanded like all the other departments are. it has been pressure all over the city and your team stepped up to keep doing great service, thank you. >> great. anybody else? a city like no other, san francisco has been a beacon of

hope, and an ally towards lgbtq equal rights. [♪♪] >> known as the gay capital of america, san francisco has been at the forefront fighting gay civil rights for decades becoming a bedrock for the historical firsts. the first city with the first openly gay bar. the first pride parade. the first city to legalize gay marriage. the first place of the iconic gay pride flag. established to help cancel policy, programses, and

initiatives to support trans and lgbtq communities in san francisco. >> we've created an opportunity to have a seat at the table. where trans can be part of city government and create more civic engagement through our trans advisory committee which advises our office and the mayor's office. we've also worked to really address where there's gaps across services to see where we can address things like housing and homelessness, low income, access to small businesses and employment and education. so we really worked across the board as well as meeting overall policies. >> among the priorities, the office of transgender initiatives also works locally

to track lgbtq across the country. >> especially our young trans kids and students. so we do a lot of work to make sure we're addressing and naming those anti-trans policies and doing what we can to combat them. >> trans communities often have not been included at the policy levels at really any level whether that's local government, state government. we've always had to fend for ourselves and figure out how to care for our own communities. so an office like this can really show and become a model for the country on how to really help make sure that our entire community is served by the city and that we all get opportunities to participate because, in the end, our entire community is stronger. >> the pandemic underscored many of the inequities they experienced on a daily basis.

nonetheless, this health crisis also highlighted the strength in the lgbtq and trans community. >> several of our team members were deployed as part of the work at the covid command center and they did incredit able work there both in terms of navigation and shelter-in-place hotels to other team members who led equity and lgbtq inclusion work to make sure we had pop-up testing and information sites across the city as well as making sure that data collection was happening. we had statewide legislation that required that we collected information on sexual orientation and our team worked so closely with d.p.h. to make sure those questions were included at testing site but also throughout the whole network of care. part of the work i've had a privilege to be apart of was to work with o.t.i. and a community organization to work

together to create a coalition that met monthly to make sure we worked together and coordinated as much as we could to lgbtq communities in the city. >> partnering with community organizations is key to the success of this office ensuring lgbtq and gender nonconforming people have access to a wide range of services and places to go where they will be respected. o.t.i.'s trans advisory committee is committed to being that voice. >> the transgender advisory counsel is a group of amazing community leaders here in san francisco. i think we all come from all walks of life, very diverse, different backgrounds, different expertises, and i think it's just an amazing group of people that have a vision to make san francisco a true liberated city for transgender folks. >> being apart of the grou

allows us to provide more information on the ground. we're allowed to get. and prior to the pandemic, there's always been an issue around language barriers and education access and workforce development. now, of course, the city has been more invested in to make sure our community is thriving and making sure we are mobilizing. >> all of the supervisors along with mayor london breed know that there's still a lot to be done and like i said before, i'm just so happy to live in a city where they see trans folks and recognize us of human beings and know that we deserve to live with dignity and respect just like everybody else.

>> being part of the trans initiative has been just a great privilege for me and i feel so lucky to have been able to serve for it for so far over three years. it's the only office of its kind and i think it's a big opportunity for us to show the country or the world about things we can do when we really put a focus on transgender issues and transgender communities. and when you put transgender people in leadership positions. >> thank you, claire. and i just want to say to claire farly who is the leader of the office of transgender initiatives, she has really taken that role to a whole other level and is currently a grand marshal for this year's s.f. prize. so congratulations, claire. >> my dream is to really look at where we want san francisco to be in the future. how can we have a place where we have transliberation, quality, and inclusion, and equity across san francisco?

and so when i look five years from now, ten years from now, i want us to make sure that we're continuing to lead the country in being the best that we can be. not only are we working to make sure we have jobs and equal opportunity and pathways to education, employment, and advancement, but we're making sure we're taking care of our most impacted communities, our trans communities of color, trans women of color, and black trans women. and we're making sure we're addressing the barriers of the access to health care and mental health services and we're supporting our seniors who've done the work and really be able to age in place and have access to the services and resources they deserve. so there's so much more work to do, but we're really proud of the work that we've done so far. [♪♪.

>> all right. hieverybody . i've i'm sanfrancisco mayor london bree . [applause] welcome to the tried raising flagceremony . and i have a very, very big announcement today . holes want to crybecause i'm so happy . but i along with our lgbt queue public safetyofficials will be marching in pride this year . [applause] and so let me just

startby saying something . i want to first apologize to so many members of the lgbtq community who were hurt by the decision that i made to stand by our various public safety officials of the lgbtq community. and i apologize for not also recognizing the hurt and pain that i know some feel as a result of their own interactions and engagements with law enforcement. because i know pride is a really important time for the lgbtq community and at the time where i have always felt that i

was always welcomed and i can be whoever it is thati want to be , and i am so happy that the theme of this year is love will keep us together. because seeing the people from our various law enforcement and public safety agencies who are also an important part of the lgbtq community, seeing how they came together with the pride board to come up with a compromise so they too can be proud of who they are and what they represent and the understanding and respect from both sides is a symbol of love bringing ustogether .

[applause] pride is so amazing in san francisco and in fact i remember my first pride parade and i remember thinking all these cars going by. then, if i go use the bathroom i'm goingto lose my spot . which is why i always had a float is why i always wanted to have something with a smile on people's faces. and so many people come from all over the world to celebrate pride in san francisco and i'm so happy that love truly did bring us together .and i want to thank the pride board and i'll say a few words . carolyn weisinger andsuzanne or . [applause] i want to thank the

person who is in charge of the pride alliance for as fpd, catherine winters is joining us today. [applause] i want to thank so many of our electedofficials including the persons that helped facilitate a lot of this . who is the cofounder of the transgender cultural districtin san francisco , arya sayiid. yes, the family had a family fight butnow we are back together again . and with thatbefore we get started with our program , that is truly really more meaningful this year than ever before especiallyafter not having pride or any major activities in the city for the past year , i want to introduce a person

who really in some ways needs no introduction. tim philip has been leading the gay men's chorus in san francisco the last five years and this year she's going to be conducting a number of farewell concert concerts but although you may be leaving your role my hope is that you're still going to be all around and today he wanted to bless us with a special performance which is very rare indeed. ladies and gentlemen, tim seelig. >> i was invited to do this yesterday and i asked people will there be an orchestra and they're like number a piano? number a harmonica? no, just you.

but i'm thrilled to be here. i came out in 1986 out of the will of the southern baptist church. i had two children,seven and nine years old . it was a rough time. in 1989 or game and the flirtations withcassette . followed eighttracks . they didn't have a track but cassette with a song on it that when i heard it i got my kids inthe car, the cassette in and pleaded for them on loop over and over . i just imagine and i wanted them to know all of us in this room had we had someone sing this song to us how our lives would have been different. >> you can be anybody that you want to be. you can love whomever you will. you can travel any country where your heart leads.♪

♪ and you know i willlove you ♪ ♪ still .♪ ♪ you can live by yourself.♪ ♪ you can gather friendsaround ♪ ♪ .♪ ♪ you can choose one special ♪ ♪ one.♪ ♪ but the only measure of your ♪ ♪ words and your deeds will be ♪ ♪ the love you leave behind ♪ ♪ when you're gone.♪ ♪ some girls grow upstrong and ♪ ♪ bold .♪ ♪ some boys are quiet and ♪ ♪ kind.♪ ♪ some race on a head,some ♪ ♪ follow behind .♪ ♪ some grow in their own space ♪ ♪ and time.♪ ♪ listen to this kids.♪

♪ some men love women and some ♪ ♪ men love man.♪ ♪ some raise children and some ♪ ♪ never do.♪ ♪ you can dream all the day, ♪ ♪ never reaching theend .♪ ♪ of everything possible for ♪ ♪ you.♪ ♪ don't be rattled by names, ♪ ♪ by thoughts or games.♪ ♪ but seek out spirits ♪ ♪ through.♪ ♪ you can be anybody that you ♪ ♪ want to be.♪ ♪ you can love whomever you ♪ ♪ will.♪

♪ but the only measure of your ♪ ♪ words and your deeds will be ♪ ♪ the love you leave behind.♪ ♪ when you're gone.♪ ♪ oh, the love you leave ♪ ♪ behind when you're gone.♪ ♪ [applause] ♪ ♪ >> thank you tim.♪ ♪ we're so gratefulto have you ♪ ♪ here today .♪ ♪ my month in san francisco, ♪ ♪ we have so many events and ♪ ♪ activities, so muchto do and ♪ ♪ i'm so glad i'm not going to ♪

♪ miss any of it .last night ♪ ♪ we were feeling the effects ♪ ♪ of a summer in san francisco ♪ ♪ in twin peaks.♪ ♪ when we lit up the pink ♪ ♪ triangle and you'll be old ♪ ♪ to see it from outer space ♪ ♪ even ifyou fly somewhere ♪ ♪ with what's that guys name ♪ ♪ that flew out in this ♪ ♪ patient ?♪ ♪ elon musk.♪ ♪ he can see it from space.♪ ♪ but the pink triangle is lit ♪ ♪ up for all of us to see.♪ ♪ it will illuminate san ♪ ♪ francisco over the next ♪ ♪ month and we have raised the♪ ♪ flag .♪ ♪ we have the various ♪ ♪ activities.♪ ♪ we even have a juneteenth ♪ ♪ pride celebration at the ♪ ♪ african-american complex.♪ ♪ [applause] and i want to ♪ ♪ take this moment to really ♪ ♪ recognize so many of our ♪ ♪ leaders for joining us today♪ ♪ .♪ ♪ not everyone will have the ♪ ♪ opportunity to a say a few ♪ ♪ words but they are here to ♪ ♪ support and starting with ♪ ♪ supervisor matt dorsey was ♪

♪ going to be speaking as well ♪ ♪ as supervisor mandelman and ♪ ♪ supervisor melgar.♪ ♪ thank you for being here ♪ ♪ from the board of ♪ ♪ supervisors.♪ ♪ we had another one west and ♪ ♪ mark i like that shirt.♪ ♪ supervisor catherine ♪ ♪ driscoll, thank you for ♪ ♪ being here today.♪ ♪ we also have walking torres, ♪ ♪ our city administrator, paul ♪ ♪ mia moto.♪ ♪ our attorney david chu.♪ ♪ i'm trying to get these ♪ ♪ titles right and our ♪ ♪ senators scott weiner and i ♪ ♪ want to acknowledge and ♪ ♪ thank many of our lgbtq ♪ ♪ department heads who serve ♪ ♪ and protect and work hard ♪ ♪ for the city every day ♪ ♪ including our fire chief jim ♪ ♪ mickelson♪ ♪ director of the sf mta jeff ♪ ♪ tomlin .♪ ♪ a person who got us through ♪

♪ covid even though we had a ♪ ♪ fight every day.♪ ♪ and i think how is here from♪ ♪ the transgender district .♪ ♪ thank you for your work♪ ♪ paul henderson, office of ♪ ♪ police accountability .♪ ♪ carol huizinga was trying to ♪ ♪ hide from everybody but the ♪ ♪ contracts are doneno need to ♪ ♪ hide .♪ ♪ and some of our other i ♪ ♪ think directors are here and ♪ ♪ i see donna say hurry up and ♪ ♪ get this over with but you ♪ ♪ look good in your red.♪ ♪ so many amazing people who ♪ ♪ helped to run the city and i ♪ ♪ want to send a special shout ♪ ♪ out to the director of the ♪ ♪ department ofthe human ♪ ♪ rightscommission , cheryl ♪ ♪ davis .♪ ♪ for all the amazing work she ♪ ♪ does.♪ ♪ as well as our commissioners ♪ ♪ who are in the house.♪ ♪ raise your hand, thank you ♪ ♪ so much for the committee ♪ ♪ many commissioners whoare ♪

♪ joining us today .♪ ♪ and with that we have our ♪ ♪ wonderful president of the ♪ ♪ pride board who is going to ♪ ♪ say a few words.♪ ♪ we are family again.♪ ♪ well, let me just say ♪ ♪ carolyn has been really ♪ ♪ weathering the storm for the ♪ ♪ past coupleof years.♪ ♪ it has been very challenging ♪ ♪ .♪ ♪ we remember last year in ♪ ♪ 2019 when we were able to ♪ ♪ celebrate pride.♪ ♪ it was a wonderful drive for ♪ ♪ the city and county of san ♪ ♪ francisco and of course all ♪ ♪ changed with covid but the ♪ ♪ pride board found a way for ♪ ♪ us to come together in ♪ ♪ various capacities that have ♪ ♪ a lot to do with the ♪ ♪ leadership of the president ♪ ♪ of the board of pride.♪ ♪ carolyn weisinger.♪ ♪ [applause] ♪

♪ >> thank you.♪ ♪ my sister called from texas ♪ ♪ telling me don't cry and she ♪ ♪ told me don't fall out so ♪ ♪ i'm not going to do that.♪ ♪ but i will say and you will ♪ ♪ hearme say this a couple of ♪ ♪ times .♪ ♪ i have a lot of speeches i ♪ ♪ didn't know if we would make ♪ ♪ it.♪ ♪ i remember after we found ♪ ♪ out about this thing called ♪ ♪ covid and we said we can ♪ ♪ just hang itup, close down ♪ ♪ the organization, there will ♪ ♪ be no problem .♪ ♪ we were able to figure out ♪ ♪ how we would still celebrate ♪ ♪ when we were all stuck in ♪ ♪ the house.♪ ♪ i want to give a shout out ♪ ♪ to grant lopez, our former ♪ ♪ executive director is not ♪ ♪ here with us but a lot of ♪ ♪ figuring out to talk to ♪ ♪ community members.♪ ♪ how can we still get you to ♪ ♪ buy in to sitting in the ♪ ♪ house and celebrating pride♪ ♪ but we have a lot of our ♪ ♪ former board members .♪ ♪ a lot ofour former ♪

♪ executives .♪ ♪ longtime board members that ♪ ♪ ithink i'm going to bring ♪ ♪ this up and iwant to do this ♪ ♪ correctly .♪ ♪ if you've never been to one ♪ ♪ of our board meetings , you ♪ ♪ know the mission of the san ♪ ♪ francisco lesbian gay ♪ ♪ bisexual transgender pride ♪ ♪ celebration committee is to♪ ♪ educate the world , ♪ ♪ commemorate our heritage, ♪ ♪ celebrate our culture and ♪ ♪ liberate our people.♪ ♪ said very loudly every ♪ ♪ meeting just like that.♪ ♪ we believe very much in the ♪ ♪ liberation of ourpeople and ♪ ♪ one thing we learned in this ♪ ♪ pandemic is we are fallible ♪ ♪ .♪ ♪ we had two years to figure ♪ ♪ out how we could liberate ♪ ♪ our people and as much as we ♪ ♪ like marching down the ♪ ♪ street it was so much more ♪ ♪ than that.♪ ♪ i want to thank mayor bree ♪ ♪ and i'm going to thank her a ♪ ♪ little personally because i ♪ ♪ will say the first time i ♪ ♪ stood here in 2019 with ♪ ♪ instant jeansand a ♪ ♪ button-down and she said ♪ ♪ girl, we don't do that here ♪

♪ in city hall .so i want to ♪ ♪ thank the mayor.♪ ♪ i want to thank all of the ♪ ♪ black sanfranciscans who ♪ ♪ took me in .♪ ♪ [applause] if i never get to ♪ ♪ say it again, you all gave ♪ ♪ me all these great hair gray ♪ ♪ hairs in front of my head ♪ ♪ taught me how important it ♪ ♪ was to have a black ♪ ♪ president in this ♪ ♪ organization and what it ♪ ♪ meant to liberate the ♪ ♪ organization and change ♪ ♪ policy so when we came back ♪ ♪ in 2022 we knew we were ♪ ♪ centering all our folks.♪ ♪ youhave the river collective ♪ ♪ , one of the what did they ♪ ♪ say?♪ ♪ they said we will know ♪ ♪ everyone isfree when black ♪ ♪ women are free .♪ ♪ i always said we will know ♪ ♪ everyone is free when black ♪ ♪ queer and trans women are ♪ ♪ free though i want to thank ♪ ♪ arya sayid andthose who made ♪

♪ this happen.♪ ♪ happy pride for the first ♪ ♪ time in three years you all ♪ ♪ .♪ ♪ [applause] ♪ ♪ >> thank you carolyn and ♪ ♪ who's been working and ♪ ♪ following carolyn's ♪ ♪ direction every step of the ♪ ♪ way is the executivedirector ♪ ♪ of the pride board for san ♪ ♪ francisco, suzanne ford .♪ ♪ [applause] ♪ ♪ >> thank you mayor bree.♪ ♪ no truer words has been said ♪ ♪ that i am following the ♪ ♪ direction of carolyn ♪ ♪ wiseman.♪ ♪ thank you to the department ♪ ♪ heads.♪ ♪ that's not true.♪ ♪ i woke up one morning and i ♪ ♪ was executive director of ♪ ♪ the most iconic queer ♪ ♪ organization in the world ♪ ♪ and i appreciatethat.♪ ♪ i have felt the ♪ ♪ responsibility of that ♪ ♪ lately to .2 and a half ♪ ♪ years ago i dreamed of being ♪ ♪ president of the board and i ♪ ♪ got a phone call from kevin ♪ ♪ weisinger and i hope i don't ♪

♪ cry.♪ ♪ she asked me for my support ♪ ♪ to her presidency.♪ ♪ and i had been taught by ♪ ♪ very smart black trans women ♪ ♪ in my upbringing to make ♪ ♪ space for black women and ♪ ♪ that's one of the best ♪ ♪ decisions i ever made.♪ ♪ carolyn has been the moral ♪ ♪ compass for san francisco ♪ ♪ pride the last two and half ♪ ♪ years and she will continue ♪ ♪ to and every decision is ♪ ♪ made insan francisco pride ♪ ♪ carolyn's voice is a strong ♪ ♪ decision-maker in that ♪ ♪ process .♪ ♪ thank you carolyn.♪ ♪ [applause] i want to pack ♪ ♪ some of the pride family.♪ ♪ you might not know this but ♪ ♪ there's a ton of people that ♪ ♪ do work all year long so ♪ ♪ those two days in the last ♪ ♪ weekend ofjune we can have a ♪ ♪ parade andcelebration and ♪ ♪ allcome together and a lot ♪

♪ of people in that family you ♪ ♪ don't know , younever know ♪ ♪ about them .♪ ♪ lisa williams is standing up ♪ ♪ here .♪ ♪ donna sachet.♪ ♪ george really .♪ ♪ gary virginia, marshall ♪ ♪ levine, you probably don't ♪ ♪ know all those names of ♪ ♪ those are a few of the ♪ ♪ people in our family.♪ ♪ it's a hard job.♪ ♪ the board ofdirectors, ♪ ♪ there's two board members ♪ ♪ appear right now .♪ ♪ our vice president and my ♪ ♪ daughter.♪ ♪ [applause] the board of ♪ ♪ pride is a non-paid position ♪ ♪ and i did it for 3 and a ♪ ♪ half years.♪ ♪ it's not a glamorous job to ♪ ♪ get to stand up here once a ♪ ♪ year.♪ ♪ they're not paid and they ♪ ♪ work really hard andthey ♪ ♪ take the weight of the ♪ ♪ community so seriously .♪ ♪ they actually represent all ♪ ♪ the people you see here ♪ ♪ today and pride represents a♪ ♪ different picture than we ♪ ♪ might have represented back ♪ ♪ in the 1970s, 1980s .♪ ♪ it's a queer familythat ♪

♪ looks different and that's ♪ ♪ what we're supposed to do ♪ ♪ andi'm so proud of that .♪ ♪ mayor, thank you for having ♪ ♪ me today .♪ ♪ i had a speech buti wasn't ♪ ♪ sure i was going to give it ♪ ♪ .♪ ♪ i want to thank arya and ♪ ♪ supervisormandelman and ♪ ♪ dorsey for their help .♪ ♪ all right, thank you all.♪ ♪ [applause] ♪ ♪ >> thank you for your words ♪ ♪ and thank you for working ♪ ♪ slope so closely with our ♪ ♪ office.♪ ♪ i'm going to take a point of ♪ ♪ privilege as mayor.♪ ♪ and take advantage of this ♪ ♪ opportunity because as i ♪ ♪ said this past week has been ♪ ♪ i know very hard and in ♪ ♪ particular there was a woman ♪ ♪ who had to sit me down and ♪ ♪ have a hard conversation ♪ ♪ about some of the challenges ♪ ♪ that we were facing here in ♪ ♪ the city and we were able to ♪ ♪ come together and a lot of ♪

♪ the reason why we were able ♪ ♪ to come together had a lot ♪ ♪ to do with arya sayid who is ♪ ♪ cofounder of the ♪ ♪ transculturaldistrict in san ♪ ♪ francisco and i wanted her ♪ ♪ to say a few words if she's ♪ ♪ open to it .♪ ♪ >> happy pride.♪ ♪ that was a little late.♪ ♪ can you do that one more ♪ ♪ time?happy pride.♪ ♪ i don't want to hold you all ♪ ♪ because i'm sure they have ♪ ♪ something.♪ ♪ anyone that knows me, i ♪ ♪ don't love public speaking ♪ ♪ is much but i want to say ♪ ♪ i'm so grateful for this ♪ ♪ moment.♪ ♪ i'm so grateful to mayor ♪ ♪ bree that you are in the ♪ ♪ parade and that are lgbtq ♪ ♪ officers will also be ♪ ♪ represented in the parade ♪ ♪ and we're all coming ♪ ♪ together to celebrate the ♪ ♪ little bit of victories that ♪ ♪ we do have a time where our ♪

♪ rights are consistently ♪ ♪ being taken away by the ♪ ♪ supreme court, where there's ♪ ♪ over 200 anti-trans ♪ ♪ legislation pieces across ♪ ♪ this country taking away the♪ ♪ rights of trans-kids and ♪ ♪ trans people .♪ ♪ the don't say gave bill in ♪ ♪ florida.♪ ♪ all these things are ♪ ♪ happening and we have a ♪ ♪ little bit of rights and a ♪ ♪ little bit of freedom so ♪ ♪ this month we celebrate that ♪ ♪ and keep fighting for our ♪ ♪ rights.♪ ♪ everyone say i. thank you.♪ ♪ [applause] ♪ ♪ >> thank you aria and so you ♪ ♪ know i think covid might ♪ ♪ have said had something to ♪ ♪ do with the snack situation ♪ ♪ afterwards so iapologize but ♪ ♪ i'mlooking at tom who's ♪ ♪ always the snack man .♪ ♪ i'll keep my fingers crossed ♪ ♪ that we will have a few ♪

♪ snacks next year .♪ ♪ in the meantime go out and ♪ ♪ spend moneyat all the ♪ ♪ restaurants thatsurround the ♪ ♪ city and make sure you tip ♪ ♪ your waiters and waitresses ♪ ♪ .♪ ♪ and with that , aria said we ♪ ♪ have to continue the fight ♪ ♪ and i have to say there is ♪ ♪ no more fears of an advocate ♪ ♪ and fighter thansenator ♪ ♪ scott weiner .♪ ♪ and i also have to say i ♪ ♪ appreciate his hard work.♪ ♪ i appreciate his ♪ ♪ consistency.♪ ♪ i appreciate how hard he ♪ ♪ fights for sanfrancisco but ♪ ♪ how much he cares about the ♪ ♪ people of this city .♪ ♪ so i'm so grateful for him ♪ ♪ and honor tointroduce our ♪ ♪ incredible us senator scott ♪ ♪ weiner .♪ ♪ you guys know what i meant.♪ ♪ u.s. congress, i mean, state ♪ ♪ senator.♪ ♪ >> i got called supervisor ♪

♪ on the street a lot and once ♪ ♪ the supervisor, alwaysa ♪ ♪ supervisor .♪ ♪ i'm just so happy to be here ♪ ♪ because i think a lot of us ♪ ♪ doing pride year after year, ♪ ♪ decade after decade we start ♪ ♪ to take itfor granted .♪ ♪ it's just something that ♪ ♪ happens every year and we ♪ ♪ know that it takes unending ♪ ♪ work every year but for a ♪ ♪ lot of people in the ♪ ♪ community i think it gets ♪ ♪ taken for granted and not ♪ ♪ having pride for the most ♪ ♪ part for two years and not ♪ ♪ having the parade for two ♪ ♪ years and these gatherings, ♪ ♪ it really reminded people ♪ ♪ not to take it for granted.♪ ♪ and how critically important ♪ ♪ pride isfor all of us to ♪ ♪ recharge our batteries, to ♪ ♪ reconnect and see people you ♪ ♪ may not see throughout the ♪ ♪ year and to recommit to the ♪ ♪ fight .♪ ♪ this is really exciting and ♪ ♪ i want to thank thepride ♪ ♪ board and stan and carolyn ♪

♪ and everyone else for not ♪ ♪ giving up during the ♪ ♪ pandemic and keeping it ♪ ♪ going .♪ ♪ [applause] and so i looked ♪ ♪ at my first pride in 1994 in♪ ♪ philadelphia and san ♪ ♪ francisco pride my first ♪ ♪ time was 95 .♪ ♪ and it really just doesn't ♪ ♪ matter so much.♪ ♪ you know, with some of the ♪ ♪ turbulence this year, the ♪ ♪ disagreements around pride ♪ ♪ and our police and mayor and ♪ ♪ then there's a separate ♪ ♪ prideprotest that's going to ♪ ♪ happen on polk street some ♪ ♪ people were coming up and ♪ ♪ stressing ,what's happening♪ ♪ and i'm like don't worry ♪ ♪ about it .♪ ♪ it's all going to be good, ♪ ♪ we're all going to come back ♪ ♪ together .♪ ♪ it's okay to have family ♪ ♪ disagreements and arguments ♪ ♪ becausein the end we are all ♪ ♪ family so i'm so thrilled we ♪ ♪ are going to be coming ♪ ♪ together .♪ ♪ and just really excited ♪ ♪ about that.♪

♪ we have tounderstand what ♪ ♪ ever our disagreements in ♪ ♪ san francisco and we have ♪ ♪ many disagreements, we love ♪ ♪ arguing with ourselves as a ♪ ♪ city .♪ ♪ we have to keep our eye on ♪ ♪ the ball and i think aria ♪ ♪ mentioned it and it is so ♪ ♪ true.♪ ♪ we have laws getting past ♪ ♪ that are similar to vladimir ♪ ♪ putin's gay propaganda laws ♪ ♪ that he passed.♪ ♪ not just in the us, laws ♪ ♪ that are compared to fascist ♪ ♪ laws passed by vladimir ♪ ♪ putin.♪ ♪ we have literally laws such ♪ ♪ as what's happening in texas ♪ ♪ and alabama and elsewhere to ♪ ♪ really think about what it ♪ ♪ means that you have a trans ♪ ♪ kid whose parents are ♪ ♪ supporting that kid.♪ ♪ so many queer kids in ♪ ♪ general are rejected by ♪ ♪ theirfamilies .♪ ♪ kickedout and they become ♪ ♪ homeless .♪ ♪ and you have families that ♪ ♪ are supporting their kids ♪ ♪ and what's going to happen ♪ ♪ potentially?the kid is ♪

♪ going to be taken out and ♪ ♪ put in foster careand the ♪ ♪ parents are going to be put ♪ ♪ in prison and the doctor put ♪ ♪ in prison to up to 10 years ♪ ♪ .♪ ♪ imaginewhat universe where ♪ ♪ in in the united states of ♪ ♪ america in 2022 that is♪ ♪ happening .♪ ♪ just imagine these kids are ♪ ♪ not living in a cave .♪ ♪ these kids have bones, ♪ ♪ internet, they see the news♪ ♪ they know what's happening .♪ ♪ can you imagine your some 10 ♪ ♪ or 13-year-old queer kid in ♪ ♪ florida or texas oralabama , ♪ ♪ really anywhere and you hear ♪ ♪ powerful politicians running ♪ ♪ around saying we're taking ♪ ♪ you away from your parents, ♪ ♪ putting yourparents in jail ♪ ♪ and we're going to blow up ♪ ♪ your life .♪ ♪ and is it any wonder the ♪ ♪ rates of suicide are so high ♪ ♪ among lgbtq youth.♪ ♪ that's not random.♪ ♪ that's because of things ♪ ♪ happening in this country in ♪

♪ 2022.♪ ♪ people are still dying from ♪ ♪ hiv particularly in black ♪ ♪ and brown communities and 50 ♪ ♪ percent of homeless youth ♪ ♪ are lgbtq so we have worked ♪ ♪ out for us.♪ ♪ we're going to recharge our ♪ ♪ batteries and get out there ♪ ♪ and fight and win so happy ♪ ♪ pride everyone.♪ ♪ [applause] ♪ ♪ >> thank you senator weiner ♪ ♪ for that very insightful♪ ♪ perspective .♪ ♪ and it's why i'm really so ♪ ♪ proud and happy about all ♪ ♪ the amazing work that we do ♪ ♪ here in san francisco and in ♪ ♪ fact this upcoming budget ♪ ♪ which i'm hoping the members ♪ ♪ of the board will support ♪ ♪ because they're the next ♪ ♪ speakers up so maybe we'll ♪ ♪ getthere commitment on the ♪ ♪ mic .♪ ♪ but we've started a program ♪ ♪ called trans home sf because ♪ ♪ of the trans community and ♪ ♪ in fact looking over that ♪ ♪ program and looking at what ♪

♪ was possible in terms of the♪ ♪ numbers and the disparities ♪ ♪ and all that information , ♪ ♪ it was really great to have ♪ ♪ a member of the board like ♪ ♪ supervisor rafael mandelman ♪ ♪ who understood what we ♪ ♪ needed to do to make those ♪ ♪ investments and our ♪ ♪ commitment to and trans ♪ ♪ homelessness in san ♪ ♪ francisco.♪ ♪ our commitment to provide ♪ ♪ universal income and a ♪ ♪ number of other initiatives ♪ ♪ and again, this is not just ♪ ♪ coming from me and ♪ ♪ supervisor mandelman.♪ ♪ this is coming from whatthe ♪ ♪ community is asking for .♪ ♪ and aren't we lucky to have ♪ ♪ a city that believes in ♪ ♪ supporting the people that ♪ ♪ have the direct not only ♪ ♪ experience but also the ♪ ♪ direct engagement with the♪ ♪ community to understand ♪ ♪ where the needs are .♪ ♪ and i am really grateful ♪ ♪ that supervisor mandelman ♪

♪ has been a real partner in ♪ ♪ fighting for this community ♪ ♪ in general and fighting for ♪ ♪ this city and i can't wait ♪ ♪ until we're able to cut the ♪ ♪ ribbon on our new lgbtq ♪ ♪ museum in the castro.♪ ♪ i'm looking forward to so ♪ ♪ many wonderful things to ♪ ♪ celebrate and uplift the ♪ ♪ lgbtq community, not just ♪ ♪ during pride but year-round ♪ ♪ and the person that's been ♪ ♪ an incredible partneron the ♪ ♪ board of supervisors in ♪ ♪ helping to do that is ♪ ♪ supervisor rafael mandelman ♪ ♪ .♪ ♪ [applause] ♪ ♪ >> i'm so relieved.♪ ♪ i just want to say how ♪ ♪ grateful i am and i think ♪ ♪ our san francisco queer ♪ ♪ community is and i think the ♪ ♪ whole city is that people of ♪ ♪ goodwill have sent spent a ♪ ♪ lot of time and a lot of ♪ ♪ meetings over the last ♪ ♪ several months to get us to ♪ ♪ the point where we are all ♪ ♪ feeling comfortable about ♪ ♪ being in the pride parade ♪ ♪ and i, one of the things ♪

♪ i've been saying to folks is ♪ ♪ as we approached this month ♪ ♪ was i'mnot sure anybody's ♪ ♪ wrong here .♪ ♪ iagree with everyone in this ♪ ♪ .♪ ♪ so suzanne and carolyn and ♪ ♪ the pride board, thank you ♪ ♪ so much and to cast and ♪ ♪ michael who's somewhere and ♪ ♪ all of the members of the ♪ ♪ pride alliance for being♪ ♪ thoughtful about this .♪ ♪ to supervisor dorsey i think ♪ ♪ kind of helped out and gave♪ ♪ us a final push in the end .♪ ♪ to aria.♪ ♪ people heard each other and ♪ ♪ listened and thisis how you ♪ ♪ want things to happen and ♪ ♪ thank you mayor agreed .♪ ♪ i'm getting emotional too.♪ ♪ i mean, i'm so happy we're ♪ ♪ here for a number of ♪ ♪ reasons.♪ ♪ one is i want us to be able♪ ♪ to celebrate pride this year ♪ ♪ because it is our first ♪ ♪ pride back in three years .♪ ♪ and because our pride board ♪ ♪ has kept the flame alive ♪

♪ this pastseveral years ♪ ♪ thinking about ways to have ♪ ♪ pride without having pride.♪ ♪ it's been hard but they've ♪ ♪ done it .♪ ♪ and then the other thing.♪ ♪ the reason i am relieved ♪ ♪ about being here right now ♪ ♪ and thought i have that i've ♪ ♪ been carrying with me is i ♪ ♪ don't agree with london ♪ ♪ breed abouteverything london ♪ ♪ breed is annoyed by me ♪ ♪ frequently .♪ ♪ i know.♪ ♪ i've always screw up these ♪ ♪ things.♪ ♪ but one thing i have never ♪ ♪ doubted and have no doubt ♪ ♪ about is london breed's ♪ ♪ commitment to the queer ♪ ♪ community.♪ ♪ if you look ... [applause] ♪ ♪ >> our terms in office ♪ ♪ overlap but if i look back ♪ ♪ is that these last three ♪ ♪ years every single year this ♪ ♪ woman comes forward with ♪ ♪ groundbreaking and ♪ ♪ unprecedentedinvestments in ♪ ♪ queer people .♪ ♪ and the most vulnerable ♪ ♪ queer people.♪ ♪ she focuses on the ♪ ♪ transgendercommunity and ♪

♪ she's talked about some of ♪ ♪ it .♪ ♪ universalbasic income in san ♪ ♪ francisco .♪ ♪ unprecedented investment in ♪ ♪ directed at unhoused trans ♪ ♪ folks, if we don'tfocus on ♪ ♪ unhoused transports we will ♪ ♪ not trans folks .♪ ♪ not a commitment to and ♪ ♪ transgender homelessness ♪ ♪ within five years in san ♪ ♪ francisco.♪ ♪ we can do it it's still ♪ ♪ amazing and this mayor is ♪ ♪ going to make it if you look ♪ ♪ at investments in queer ♪ ♪ communityinstitutions , ♪ ♪ housing for seniors, we're ♪ ♪ going to get a building ♪ ♪ that'sgoing to house more ♪ ♪ than 100 , more than 100 ♪ ♪ lgbtq seniors where they ♪ ♪ will be have a home and if ♪ ♪ they get convicted is not ♪ ♪ going to mean leaving the ♪ ♪ state or the bay area.♪ ♪ and weather is going to be ♪ ♪ the museum, investments in ♪ ♪ tim seelig's billing and ♪

♪ these investments inpeople ♪ ♪ and the recognition of the ♪ ♪ talent in the queer ♪ ♪ community .♪ ♪ the number of queer ♪ ♪ department heads as i look ♪ ♪ around, they're all ♪ ♪ brilliant.♪ ♪ but that's amazing that our♪ ♪ city is led by so many queer ♪ ♪ people.♪ ♪ our commissioner deborah ♪ ♪ walker was about to step on ♪ ♪ to the police commission, ♪ ♪ good luck .♪ ♪ so i didnot, one of my fears ♪ ♪ , i get anxious about a lot ♪ ♪ of stuff but one of my ♪ ♪ anxieties was that reality ♪ ♪ of one degrees record like ♪ ♪ it obscured and won't also ♪ ♪ they're going to have a ♪ ♪ fantastic party♪ ♪ i'm looking forward to it .♪ ♪ i'm excited.♪ ♪ i think i'm supposed to ♪ ♪ announce the newest queer ♪ ♪ supervisor in san francisco ♪ ♪ and in the bay area and up ♪ ♪ until now i've been able to ♪ ♪ say i'm the only one i can't ♪ ♪ say itanymore but i'm super ♪ ♪ happy about that and that is ♪ ♪ areflection i think of the ♪

♪ mayor's commitment to the ♪ ♪ queer community .♪ ♪ matt dorsey , you helped us ♪ ♪ get to this point with this ♪ ♪ year's pride and i am so ♪ ♪ excited to see all the ♪ ♪ things you're goingto do on ♪ ♪ the board.♪ ♪ it's a joy to serve with you ♪ ♪ and thank you for appointing ♪ ♪ matt dorsey to represent ♪ ♪ district 6 .♪ ♪ [applause] ♪ ♪ >> thank you so much.♪ ♪ i want to express my ♪ ♪ gratitude to carolyn and ♪ ♪ suzanne.♪ ♪ yesterday in a conversation ♪ ♪ carolyn said i'm going to be ♪ ♪ blunt and i say good because ♪ ♪ we don't have time for ♪ ♪ nuance.♪ ♪ getting this done was ♪ ♪ important and i want to ♪ ♪ express my gratitude to joe ♪ ♪ weitzman in myoffice, lisa ♪ ♪ williams .♪ ♪ the human rightscommission, ♪ ♪ cheryldavis .♪ ♪ the lgbtq advisory ♪ ♪ commission .♪ ♪ people are having a ♪ ♪ difficult conversations and ♪ ♪ i especially want to express ♪ ♪ my gratitude because you ♪ ♪ know how personal it is tome ♪ ♪ .♪ ♪ the officer catherine ♪ ♪ winters, all the men, women ♪

♪ and non-binary members of ♪ ♪ the san francisco police ♪ ♪ department, san francisco ♪ ♪ firedepartment, san ♪ ♪ francisco sheriff's ♪ ♪ department for going to the ♪ ♪ table with a spirit of ♪ ♪ collaboration and consensus ♪ ♪ and getting this done .i ♪ ♪ am so excited like the mayor ♪ ♪ tobe marching in pride and i ♪ ♪ want to acknowledge too when ♪ ♪ i said i was going to sit ♪ ♪ out , it was partly because ♪ ♪ i spent two years in the ♪ ♪ police department and these ♪ ♪ are my colleagues and ♪ ♪ friends but i want to ♪ ♪ remember when i moved to san ♪ ♪ francisco as a young gay man♪ ♪ , there was aformer police ♪ ♪ commissioner named wayne ♪ ♪ striker who was a mentor to ♪ ♪ me .♪ ♪ dennis collins was a ♪ ♪ groundbreaking da ♪ ♪ investigator who was a ♪ ♪ mentor to me.♪ ♪ joey daly was the first ♪ ♪ lesbian police commissioner ♪ ♪ appointed in 1980.♪ ♪ i got to work for two years ♪ ♪ and a police department ♪ ♪ that's been the beneficiary ♪ ♪ of lgbtq leadership from no ♪ ♪ fewer than 10 police ♪

♪ commissioners and we're ♪ ♪ going to have an 11th and ♪ ♪ i'm excited to be supporting ♪ ♪ deborah walker.♪ ♪ it means the world to me to ♪ ♪ our foreign public safety ♪ ♪ officers and firefighters ♪ ♪ and emts and sheriffs that ♪ ♪ we got thisdone.♪ ♪ happy pride everybody.♪ ♪ let's get out and celebrate ♪ ♪ .♪ ♪ [applause] ♪ ♪ >> this brings us to the end ♪ ♪ of our program.♪ ♪ i just want to thank ♪ ♪ everyone who is joining us ♪ ♪ here today and i also want ♪ ♪ to simply call out and thank ♪ ♪ tom horne.♪ ♪ many of you know that tom ♪ ♪ does extraordinary work ♪ ♪ mostly behind-the-scenes in ♪ ♪ this community and a big ♪ ♪ supporter of all things ♪ ♪ pride but also a big, major ♪ ♪ ambassador to the city and ♪ ♪ county of san francisco so ♪

♪ we arehonored by your ♪ ♪ presence ♪ ♪ grateful to have you and ♪ ♪ grateful to have each and ♪ ♪ every one of you .♪ ♪ lovewill bring us together .♪ ♪ lovehas brought us together ♪ ♪ and in the spirit of love , ♪ ♪ let's celebrate pride like ♪ ♪ san francisco celebrates ♪ ♪ prideand let's turn it up .♪ ♪ you also much.♪ ♪ thank you.♪ ♪ >>.♪ ♪ >> .♪ ♪ >>

>> i don't think you need to be an expert to look around and see the increasing frequency of fires throughout california. they are continuing at an ever-increasing rate every summer, and as we all know, the drought continues and huge shortages of water right now. i don't think you have to be an expert to see the impact. when people create greenhouse gases, we are doing so by different activities like burning fossil fuels and letting off carbon dioxide into the atmosphere and we also do this with food waste. when we waste solid food and leave it in the landfill, it puts methane gas into the atmosphere and that accelerates

the rate at which we are warming our planet and makes all the effects of climate change worse. the good news is there are a lot of things that you can be doing, particularly composting and the added benefit is when the compost is actually applied to the soil, it has the ability to reverse climate change by pulling carbon out of the atmosphere and into the soil and the t radios. and there is huge amount of science that is breaking right now around that. >> in the early 90s, san francisco hired some engineers to analyze the material san francisco was sending to landfill. they did a waste characterization study, and that showed that most of the material san francisco was sending to landfill could be composted. it was things like food scraps, coffee grounds and egg shells and sticks and leaves from gardening.

together re-ecology in san francisco started this curbside composting program and we were the first city in the country to collect food scraps separately from other trash and turn them into compost. it turns out it was one of the best things we ever did. it kept 2.5 million tons of material out of the landfill, produced a beautiful nutrient rich compost that has gone on to hundreds of farms, orchards and vineyards. so in that way you can manage your food scraps and produce far less methane. that is part of the solution. that gives people hope that we're doing something to slow down climate change. >> i have been into organic farming my whole life. when we started planting trees, it was natural to have compost from re-ecology. compost is how i work and the soil biology or the microbes

feed the plant and our job as regenerative farmers is to feed the microbes with compost and they will feed the plant. it is very much like in business where you say take care of your employees and your employees will take carolinas of your customers. the same thing. take care of the soil microbes and soil life and that will feed and take care of the plants. >> they love compost because it is a nutrient rich soil amendment. it is food for the soil. that is photosynthesis. pulling carbon from the atmosphere. pushing it back into the soil where it belongs. and the roots exude carbon into the soil. you are helping turn a farm into a carbon sink. it is an international model. delegations from 135 countries have come to study this program. and it actually helped inspire a new law in california, senate bill 1383. which requires cities in california to reduce the amount of compostable materials they send to landfills by 75% by

2025. and san francisco helped inspire this and this is a nation-leading policy. >> because we have such an immature relationship with nature and the natural cycles and the carbon cycles, government does have to step in and protect the commons, which is soil, ocean, foryes, sir, and so forth. -- forest, and so fors. we know that our largest corporations are a significant percentage of carbon emission, and that the corporate community has significant role to play in reducing carbon emissions. unfortunately, we have no idea and no requirement that they disclose anything about the carbon footprint, the core operation and sp360 stands for the basic notion that large corporations should be transparent about the carbon footprint. it makes all the sense in the world and very common sense but is controversial. any time you are proposing a

policy that is going to make real change and that will change behavior because we know that when corporations have to disclose and be transparent and have that kind of accountability, there is going to be opposition. >> we have to provide technical assistance to comply with the state legislation sb1383 which requires them to have a food donation program. we keep the edible food local. and we are not composting it because we don't want to compost edible food. we want that food to get eaten within san francisco and feed folks in need. it is very unique in san francisco we have such a broad and expansive education program for the city. but also that we have partners in government and nonprofit that are dedicated to this work. at san francisco unified school district, we have a

sustainability office and educators throughout the science department that are building it into the curriculum. making it easy for teachers to teach about this. we work together to build a pipeline for students so that when they are really young in pre-k, they are just learning about the awe and wonder and beauty of nature and they are connecting to animals and things they would naturally find love and affinity towards. as they get older, concepts that keep them engaged like society and people and economics. >> california is experiencing many years of drought. dry periods. that is really hard on farms and is really challenging. compost helps farms get through these difficult times. how is that? compost is a natural sponge that attracts and retains water. and so when we put compost around the roots of plants, it holds any moisture there from rainfall or irrigation. it helps farms make that corner and that helps them grow for

food. you can grow 30% more food in times of drought in you farm naturally with compost. farms and cities in california are very hip now to this fact that creating compost, providing compost to farms helps communities survive and get through those dry periods. >> here is the thing. soil health, climate health, human health, one conversation. if we grow our food differently, we can capture all that excess carbon in the atmosphere and store it in unlimited quantities in the soil, that will create nutrient dense foods that will take care of most of our civilized diseases. so it's one conversation. people have to understand that they are nature. they can't separate. we started prowling the high plains in the 1870s and by the 1930s, 60 year, we turned it into a dust bowl. that is what ignorance looks like when you don't pay attention to nature.

nature bats last. so people have to wake up. wake up. compost. >> it is really easy to get frustrated because we have this belief that you have to be completely sustainable 24/7 in all aspects of your life. it is not about being perfect. it is about making a change here, a change there in your life. maybe saying, you know what? i don't have to drive to that particular place today. today i am going to take the bus or i'm going to walk. it is about having us is stainable in mind. that is -- it is about having sustainability in mind. that is how we move the dial. you don't have to be perfect all the time. >> san francisco has been and will continue to be one of the greener cities because there are communities who care about protecting a special ecosystem and habitat. thinking about the history of the ohlone and the native and indigenous people who are

stewards of this land from that history to now with the ambitious climate action plan we just passed and the goals we have, i think we have a dedicated group of people who see the importance of this place. and who put effort into building an infrastructure that actually makes it possible. >> we have a long history starting with the gold rush and the anti-war activism and that is also part of the environmental movement in the 60s and 70s. and of course, earth day in 1970 which is huge. and i feel very privileged to work for the city because we are on such a forefront of environmental issues, and we get calls from all over the world really to get information. how do cities create waste programs like they do in san francisco. we are looking into the few which you are and we want innovation. we want solutions.

>> this is one place you can always count on to give you what you had before and remind you of what your san francisco history used to be. >> we hear that all the time, people bring their kids here

and their grandparents brought them here and down the line. >> even though people move away, whenever they come back to the city, they make it here. and they tell us that. >> you're going to get something made fresh, made by hand and made with quality products and something that's very, very good. ♪♪ >> the legacy bars and restaurants was something that was begun by san francisco simply to recognize and draw attention to the establishments. it really provides for san francisco's unique character. ♪♪ >> and that morphed into a request that we work with the city to develop a legacy business registration.

>> i'm michael cirocco and the owner of an area bakery. ♪♪ the bakery started in 191. my grandfather came over from italy and opened it up then. it is a small operation. it's not big. so everything is kind of quality that way. so i see every piece and cut every piece that comes in and out of that oven. >> i'm leslie cirocco-mitchell, a fourth generation baker here with my family. ♪♪ so we get up pretty early in the morning. i usually start baking around 5:00. and then you just start doing rounds of dough. loaves. >> my mom and sister basically handle the front and then i have my nephew james helps and then my two daughters and my wife come in and we actually do the baking. after that, my mom and my sister stay and sell the

product, retail it. ♪♪ you know, i don't really think about it. but then when i -- sometimes when i go places and i look and see places put up, oh this is our 50th anniversary and everything and we've been over 100 and that is when it kind of hits me. you know, that geez, we've been here a long time. [applause] ♪♪ >> a lot of people might ask why our legacy business is important. we all have our own stories to tell about our ancestry. our lineage and i'll use one example of tommy's joint. tommy's joint is a place that my husband went to as a child and he's a fourth generation san franciscan. it's a place we can still go to today with our children or grandchildren and share the stories of what was san

francisco like back in the 1950s. >> i'm the general manager at tommy's joint. people mostly recognize tommy's joint for its murals on the outside of the building. very bright blue. you drive down and see what it is. they know the building. tommy's is a san francisco hoffa, which is a german-style presenting food. we have five different carved meats and we carve it by hand at the station. you prefer it to be carved whether you like your brisket fatty or want it lean. you want your pastrami to be very lean. you can say i want that piece of corn beef and want it cut, you know, very thick and i want it with some sauerkraut.

tell the guys how you want to prepare it and they will do it right in front of you. san francisco's a place that's changing restaurants, except for tommy's joint. tommy's joint has been the same since it opened and that is important. san francisco in general that we don't lose a grip of what san francisco's came from. tommy's is a place that you'll always recognize whenever you lock in the door. you'll see the same staff, the same bartender and have the same meal and that is great. that's important. ♪♪ >> the service that san francisco heritage offers to the legacy businesses is to help them with that application process, to make sure that they

really recognize about them what it is that makes them so special here in san francisco. ♪♪ so we'll help them with that application process if, in fact, the board of supervisors does recognize them as a legacy business, then that does entitle them to certain financial benefits from the city of san francisco. but i say really, more importantly, it really brings them public recognition that this is a business in san francisco that has history and that is unique to san francisco. >> it started in june of 1953. ♪♪ and we make everything from scratch. everything. we started a you -- we started a off with 12 flavors and

mango fruits from the philippines and then started trying them one by one and the family had a whole new clientele. the business really boomed after that. >> i think that the flavors we make reflect the diversity of san francisco. we were really surprised about the legacy project but we were thrilled to be a part of it. businesses come and go in the city. pretty tough for businesss to stay here because it is so expensive and there's so much competition. so for us who have been here all these years and still be popular and to be recognized by the city has been really a huge honor. >> we got a phone call from a woman who was 91 and she wanted to know if the mitchells still owned it and she was so happy

that we were still involved, still the owners. she was our customer in 1953. and she still comes in. but she was just making sure that we were still around and it just makes us feel, you know, very proud that we're carrying on our father's legacy. and that we mean so much to so many people. ♪♪ >> it provides a perspective. and i think if you only looked at it in the here and now, you're missing the context. for me, legacy businesses, legacy bars and restaurants are really about setting the context for how we come to be where we are today. >> i just think it's part of san francisco. people like to see familiar stuff. at least i know i do. >> in the 1950s, you could see a picture of tommy's joint and looks exactly the same. we haven't change add thing.

>> i remember one lady saying, you know, i've been eating this ice cream since before i was born. and i thought, wow! we have, too. ♪♪

>> welcome to the chase center arena. you guys feel that? [cheers and applause] >> that's that winning energy. okay. [applause] >> let's give a round of applause for the gold letter warriors for last night's performance. that was amazing! [cheers and applause] >> still confetti on the floor over here. well, welcome to the opportunities for all summer kickoff. we're so happy you're here. i'm your mc, niko romand

and i'm a program manager, a partner of opportunities for all. [cheers and applause] >> thank you! and -- >> hi, i'm miracle. i'm a graduate senior from mission high school. [cheers and applause] >> i'll be attending san jose state in the fall. [cheers and applause] >> well, we are honored to introduce somebody very special and one of my dearest mentors, i'll going to give the mic to miracle because she has a special place in her heart for this amazing individual. >> okay. davis is an executive director of the san francisco human rights commission. and serves as a commission including

a tenure of the vice-chair of the commission. prior to joining hr c director davis was the executive director of collective impact overseeing more magic, magic bone and the community center. director davis is passionate about serving the community and a leader and opportunities for all. [cheers and applause] >> let's give a warm round of applause for dr. cheryl evans davis. [cheers and applause] >> all right. we're passing this mic around. i don't know all about that. this is clean. [laughter] good morning, everyone. i want to say it is a beautiful site and give yourselves a round of applause for getting here on a monday morning for the official week of no school for those who just finished sf usc. first and

foremost because i always, always forget to i want to first and foremost thank our amazing partners that serve as employers off the top which i want to recognize and they are the people that make sure that folks get their checks, even though we sometimes are a little bit behind and don't get it always right, they take all of the fuss and complaining and make sure it happens. i want to recognize jc, japanese community are, jackie and alvin, and i don't know if ivolet is here. who likes to get paid? give them a bigger round of applause than that. this year is extremely special because we have an influx and the ability of new dollars to be able to serve more people and so i want to thank the californians for all the california volunteers, josh friday, the chief service volunteer, for the state of

california for their partnership and their support, give it up for them as well. [cheers and applause] and our partners and team members from collective impact will join us shortly and i'll hear from tinder loin and they take hundreds of teachers in the cone so give donna a round of applause and eldon rose who make it all happen and i want to thank the public defender's office, who is here, will be able to share more. [cheers and applause] as i know as i start calling names, it goes downhill and i'm going to forget someone but i want you to understand how many people it takes to make this possible and i want to talk about this is more than a summer job so in that regard, the chief of police is here, the chief of the fire department and the director of the officer of economic and workforce development, the workforce development arms, they have worked with us along with maria

from the department of children youths and their families to create pipelines, morgan tucker is here, morgan started as an intern and works for the police department now. so give the police department a hand. [cheers and applause] last year, the police, i mean, the chief of the fire department launched a new program called the city emt. those folks went through that program as interns and now she has, i think how many people, chief? five people working for the fire department that came through that program. [applause] could not have done that program without maria sue and josh, so really want you to understand this is a pipeline, this is not just a summer job. i want to in the same way recognize the commitment to build these pipelines because i would say asena who you'll hear from later graduated from law school and we were fighting over who gets to hire asena so she graduated and had a job. i say all of that to

say, do not think of this, as i'm going to get paid this summer. this is really about career expiration. this is about trying to see which industry you like and where it sits and where you can go. at this point, later you'll hear from mayor breed but this is the idea and vision of mayor breed saying i do not want to be the exception. i want to be the rule. i want folks to go to school and no no matter what they do at the end of it, they choose which path they take and that's what opportunities for all is all about, so give yourselves another round of applause for being here. [applause] much like you all, we are all having growing pains. we're trying to figure it out and how to get it right and thank you for going with us on this journey. i also just want to make sure to recognize if you'll indulge me and the opportunities for all and the human rights, if

you would come out because they're doing the work. danielle, sarah williams and kathy meyer has been helping. i know britney ford is helping. you all don't want -- i know you're not all hiding behind this. come on. [cheers and applause] i want to thank the team. don't say i didn't recognize you. is somebody taping this? i hope so. oh, zena, zena is our research and documents all of that. thanks, zena. i'm going to get out of the way now but challenge us, push us to do more and if there's something you want to experience, it's not working let us know because this is how do we make sure that everybody gets an experience not to just make money but build networks and build the connections you need to be the best you can be. thank you so much, commissioner hajabi for

joining us as well. thank you. >> let's make more noise for dr. davis, please. [cheers and applause] i'm way too tall for this. stand here. but i would like to introduce how our musical performances and the curtis family senos and after we introduce them, we're going to introduce the young defenders. there are two representatives, athena edwards and jordan clarke and they'll be giving remarks about osa and their experience so far, but just a little bit about the curtis family seno, they're an african american and tunga game from san francisco. they're made of curtis and their

five children, isis, key key and phoenix, they play instruments and they can all sing very well, might i add. and they will be here to perform and so let's welcome the curtis family. [cheers and applause] senos! >> yes. >> hey, yo. let's get energy in here. can i hear you stump your feet. let's go. i need some energy, can i we get hand claps. come on. >> let me say quickly that i was a part of a summer program under joseph aliaota and i might not look that old but that was in the summer of 1969 and i know how empowering these programs can be for us. i went on to get a ph.d., two bachelor's.

[cheers and applause] and two master's degrees. i'm also an ex-police officer so i know what the power of these programs can do for you. and i just want to encourage you all and this song is about that. it's about understanding the love that's inside of you. and at the end of the day when you don't have anyone to turn to, look in the mirror and say i love you >> that's right. >> look in the mirror and say, i believe in you. >> can i get an amen. can i get a witness. [applause] >> oh, we want to thank mayor london breed for opportunities for all. this song that we are seeing for you is called "love is where you go," which is on our upcoming album and we hope this song brings you love and encouragement to those who are getting their first job. >> we also have a graduating

senior right here. [cheers and applause] ♪ [ music ] ♪ ♪ >> turn it up! ♪ where do you go when you're feeling low ♪ ♪ ♪ what do you do when you're all alone ♪ ♪ ♪ when it feels like the weight of the world is going down on your shoulders ♪ ♪ ♪ ♪ and remind yourself you were created define. ♪ ♪ ♪ find your truth. ♪ ♪

♪ believe and see the light in you ♪ ♪ ♪ and you can always speak your truth ♪ ♪ ♪ speak your truth ♪ ♪ ♪ that's where you go when you're feeling low ♪ ♪ ♪ that's what you do when you're all alone ♪ ♪ >> clap your fingers with us. ♪ [ music ] ♪ ♪ ♪ when you shine your light on the world, you share the love that lives within you ♪ ♪ ♪ despite what you may go through, love will see you through ♪ ♪

♪ liven up your truth ♪ ♪ ♪ believe and see the light in you ♪ ♪ ♪ so you can speak your truth ♪ ♪ speak your truth ♪ ♪ ♪ where do you go when you're feeling low ♪ ♪ ♪ what do you do when you're all alone ♪ ♪ ♪ it's all about love where you go when you're feeling low ♪ ♪ ♪ what do you do when you're all alone ♪ ♪

[singing] ♪ where do you go when you're feeling low ♪ ♪ ♪ love where you go when you're feeling low ♪ ♪ ♪ love is what you do when you're all alone ♪ ♪ >> thank you! [cheers and applause] >> let me hear a big stomp, let's go. [stomping feet] >> are follow us on instagram at the curtis senos, thank you.

[applause] >> look for our album, it will be out on the eighth. [applause] >> thank you, mrs. curtis. let's give another round of applause for the curtis family senos. they are simply amazing and i don't know if you guys remember but they were on america's got talent and they also have a really cool commercial for jc penny, so they're talented and they're going super far, so thank you guys for coming to this event and blessing us. [cheers and applause] >> we have two representatives from the young defenders which is a cohort with osa that has to do with the public defender's office and social justice and so, we have athena edwards and jordan clarke and so a little

bit about them, i hope you guys don't mind me gassing you up a little bit but jordan clerk is a rising senior at bishop art. he's been 2020 and as active intern of the public defenders team and a public defender's office, young defender, joe jordan has learned about criminal justice and a career in law. let's give a round after clause for jordan and athena edwards has been instrumental in ofa young defender as program and she's an alumni of the california los angeles and earned her doctorate at the university of san francisco in 2022. [cheers and applause] congratulations, girl! athena has made a change in serving the community and she currently serves as the ofa coordinator,

please welcome jordan athena edwards. [cheers and applause] >> how is everyone feeling today? [cheers and applause] >> yeah! all right, all right!. hello everyone. thank you to mayor breed, director davis and ofa for having me. my name is jordan and i've honored to work with the san francisco young defend ares for two years now and two years ago a family friend told me about the initiative here in the city led by mayor breed who i have looked up to for years called opportunities for all. all of the social movements in 2020 with thousands of people fighting for equity and justice around the country made me want to do it more. i wanted to know my own rights. an advocate for justice for others and i knew the young deferneds cohort was the perfect place to do that. i can say without a doubt my work over the past few years informed my perspective and shaped my dream and changed my life and i

want to be a lawyer that fights for justice and freedom and i wouldn't have learned about this profession without the experience. thank you. [cheers and applause] i must say i have enjoyed every bit of my experience here and i'm excited to explore every new assignment. as someone who wanted to step in the field of law, it's important i carry these skills with me as i go to college and eventually law school. the people who truly made all this possible, i cannot appreciate them enough. they're my bosses, athena and jason. they aren't just our bosses but role models for us as people and professionals. they have put in countless hours to create this program for us, but beyond that, they take time to get to know us and our families and check in on how we're doing. [cheers and applause] when we are not at work, they reach out to make sure we're doing well. they really care about us as people, that's extremely important to me because it shows how much ofa cares about each and every

intern. so thank you so much to athena and jason for shaping my first work experience and thank you to my coworkers who teach me so much with positive attitudes and diverse experience and thank you to ofa for showing me what it means to be a lawyer and a professional. everyone at ofa continues to inspire me everyday when i come to work and i'm grateful for this experience and this opportunity. thank you! [cheers and applause] >> talk about a tough act to follow after that. my name is athena and i'm honored to be here today, as you have heard, i served as an intern with the department of police accountability and then i had the amazing opportunity to serve as a fellow for the young

defend, cohort and criminal cohort and criminal justice cohort and i'm excited that i have the opportunity to be here today as the fellow coordinators along with my copartner dom and i know you're out there. thank you for being a partner that a girl could ask for. when i was asked to speak about my experience with ofa i was overwhelmed. there were so many words that came to mind. sorry if i get choked up by the way. two words that came to mind the most was life changing and impact. ofa has been a life changing opportunity for me and set a course for my career and my life. thanks to ofa i have a family away from my family. i would not be standing here today as a 2022 law school graduate and a newly member as hr c if it wasn't for ofa providing me a pathway to develop myself, my

skills and pursue my dreams. and it is that impact ofa has and it's that impact that every intern, every fellow, every senior fellow, every mentor and every partner feels. i would like to tell a little story about my first days as a fellow of a young defender's cohort when we had the opportunity to join the public defenders office this past year. so, on my first days, i got to meet the lovely mr. patrick getis who served as a mentor for the cohort and what did he do? he came to us with a coke bottle and a glass and a straw. [laughter] and he asked us this question and asked us to answer this question, how would you, without using your hands get the straw out of the coke bottle? very unusual task by a very tall man.

but it wasn't about any of that. as we went through, you heard each and every intern including myself be tasked with the question of answering that and we heard each other's strategies, methods and we commented on each others, talk about a crazy time in a crazy office. upon reflection, i gained a little perspective. i realized that the task was never about getting the straw out of the bottle. there's no right or wrong answer. it was about how we each have our own voice, our own method and our own approach. and that provided with the opportunity and a little bit of mentoring we can all succeed in pursuing our path. it was about everyone in ofa and every intern and every fellow and every senior fellow and every partner and mentor that brings something

to the table and that's a unique perspective and our own set of skills and talents that you can't find anywhere else. and it is ofa, along with all of the people that provides youth like myself with a space to develop our skills and our perspective along with our talent. as a life changing experience, that can't be bottled. thank you! [cheers and applause] >> let's give another round of applause for jordan and athena, those heartfelt words. amazing, thank you guys. [cheers and applause] miracle, go ahead. >> now, i'm going to be introducing mayor london breed. mayor london preed was born and raised in san francisco, california. her vision of the city is rooted in her experience growing up in public housing. and living in neighborhoods

impacted by redevelopment and her commitment to creating opportunities for all, san francisco to live and thrive. mayor breed understands the importance of internships and career opportunities for all of san francisco youth. through mayor breed's opportunity for all, inventioned more than five thousand paid internships helped sfa prepare for future careers. [cheers and applause] now, i would like to give the honor first of all, to mayor london breed, thank you. [cheers and applause] >> how cool is this to be here in the chase center the day after the warriors just won its game. [cheers and applause] first of all, i want to say congratulations to miracle because she's going to san jose

state on a full ride. [cheers and applause] i knew this before she was born and i also knew the senos before they were all born. we see papa c and mom a c and the talented artists and i heard over the microphone when i came in and you get better and better and better. thank you again for being here today. and asena and jordan wherever you are, man, that's the future. that's the future of our city. that's the future of our country and that's the reason why i started opportunities for all. because believe it or not, i wasn't this polished mayor that you see today. [laughter] in fact, i was a little rough around the edges especially in

elementary school and junior high school. sadly, i was a little, what they would say hard headed. sometimes i wouldn't listen. a lot of times i got into fights. many times i got suspended. and you know my teachers, i would get all these good grades. i would get a's and b's but under my behavior, i would get all u's and sometimes s's but my behavior wasn't the best. but the good news was there were a lot of people who didn't give up on me. despite how challenging my behavior was, i could have gone someplace completely different and my behavior had, i think a lot to do with you know my environment, the people i was surrounding myself with and luckily, i had a dmrand -- grandmother so when i got in trouble i got in trouble and paid the price for it but more importantly when i did good things i was rewarded and it

made me feel good. the first day of band, i had to write lines and back then when you played in ben franklin middle school panned, you were somebody so i didn't want to get kicked out of band so i wrote the lines and changed my behavior real fast. finally, when i turned 14, i got one of the lucky slots working for the mayor's youth and training program and i started working for a place called the family school. and in fact, i showed up, probably not the most appropriately dressed for my first day on the job and i answered the phone like this, hello! who are you looking for? what do you want? i mean, it was not a good look for someone getting paid to do a job. but instead of seeing me as a problem or seeing me in a way that, you know, looked at my behavior and thought there's no way this is going to work and this girl cannot work here, they took the time to work with me.

they taught me how to answer the phone. they made me write out a script and it went from hello and all that other mess to hello, this is london breed, thank you for calling the family school. i still remember it to this day. i had to repeat it over and over and read it every time i answered the phone. changed my attire, not because they told me what to wear but they took me shopping to pick out the appropriate clothes to wear for an office environment. so when an internal justice -- it turned to an intern to year-round and this is a nonprofit agency with not a lot of resources and they found a way to help pay for me to come there on the 22 fillmore everyday after school to work at that location, letting me do my homework first and making sure i learned about the funks of the location -- the functions of the location and provided assistance and still earned a decent paycheck so that i could cover

the expenses of my school clothes or lunch money or all the things my grandmother couldn't afford to provide me with. it was more about money but an opportunity. it was about people who believed in me when i didn't really believe in myself. it was about opening the doors for something that was possible and i can guarantee each and every one of you, there's to way that i would have went to college, been able to take on different job responsibilities and eventually become mayor had it not been for that first opportunity i had at age 14 working for the family school. i guarantee you that. [applause] and it is why i started opportunities for all because i never ever because there's all kinds of internships. there's families who have relationships with people and resources to help cover the expenses of their

young folks, their kids being able to take advantage of these opportunities but not everyone has that. so, i wanted money to not be a barrier to success. this program was started because we wanted you all to be exposed to anything that you wanted to do, for you to know that anything in life is possible, that there are great things out there and so, i know everybody wants to be steph curry or clay thompson but guess what, there's coach ker and there's a general manager, there's a president and ceo, there's the graphic designer, there's a person who designs a t-shirt, they are the people that run chase center, not just with the basketball games but also with the various concerts and activities that take place. there's the hr department, there are so many different components that go into everything that exist just to make chase center run