we have katie miller from the p.u.c. to present on this item. >> yes, thank you. good afternoon, chair, good morning, chair haney and vice chair safai and member mar. i'm katie miller, the director of the water program for the public utilities commission. i have a few slides today to help to illustrate our project and share some of the points that we want to share with you today. the item before you today is a request to accept alternate indemnification for the moccasin powerhouse generator rehabilitation project. and this is our hetch hetchy water system. we serve water to 2.7 million customers, including san francisco. the gold shaded area on the slide shows our customer service area. 85% of the water supply comes from hetch hetchy reservoir and yosemite national park. 100% of that water flows to the moccasin powerhouse and the hydroelectric generators to reachis here in san francisco. this slide shows the general location of the moccasin powerhouse in the sierra foothills. next slide. this slide shows the moccasin powerhouse. on the left of the photo you can se

there is capital improvement prograham by katy miller. katy, once again. >> this is as of the end of the third quarter in march of 2021. this slide looks different than last quarter. that's due to you all approving our 2021 revised baseline. the revised program includes 25 regional and 11 local projects for a total value of $2.7 million. this is as well as several new projects. it excludes the projects that were previous completed. this pie chart shows three projects have not been initiated. 25 are in preconstruction and five are in construction and close out so, we added a lot of new projects and back at the beginning of a new program. next slide. cost summery showing a summery cost forecast with the 2021 approved budget. we revised the baseline and no cost variants in the project at this time. let's hope the slide stays like this for the future. next slide, the table summarized the number of projects to exside the 2021 schedules. we revised there are no scheduled variances in the project at this time. next slide, please. for the regional

i'm katie miller, director for water capital programs. today i will cover highlights of the hetch hetchy program for the third quarter of fiscal year 2021 from january 1st to march 30th. next slide, please. this slide provides a status overview of the program's 20 projects, representing $660 million in budget, the expenditures were $187 million, the program spent $9 million last quarter and is now at 37% completion. you'll notice on the pie chart on the left, the green construction section, has gotten much larger since last quarter. this is because the mountain tunnel project is now officially until construction. next slide. this table shows the summary of project costs forecast, compared to their 2018 approved budgets. the projects are grouped into categories by funding sources. water, power, and joint of both water and power. as you can see, there are several categories with forecasted costs that exceed the 2018 budget. note that these forecasted project costs are in alignment with the fiscal year 2021-2030, budgets that were approved l

i know i have a monthly meeting with the chief on probation, katie miller and she has one of her folks assigned to that as well. my understanding is that is going well. if you're asking for a specific time line, i'll have to follow up with you on that. what was the other one? >> the other one was also 8.10. >> yeah. let me pull up what 8.10 is. >> first amendment, chief. >> oh, that one i think is going to need some work. of course, first amendment, there's been several interrations of that in the last couple years, but that one is going to need a lot of work. there were some issues that were raised by your predecessor that we're still working on before he left the commission and that would be all of this this past year, but it's a work in progress and that would also require a work group and i think the work group has had some moving parts. people are coming on, but we need to get that back on track to get it in front of the commission. but it does need a lot of work. >> president cohen: okay. what about 7.one? >> that's the one i just mentioned with the juvenile. that one is going we

i know i have a monthly meeting with the chief on probation, katie miller and she has one of her folks assigned to that as well. my understanding is that is going well. if you're asking for a specific time line, i'll have to follow up with you on that. what was the other one? >> the other one was also 8.10. >> yeah. let me pull up what 8.10 is. >> first amendment, chief. >> oh, that one i think is going to need some work. of course, first amendment, there's been several interrations of that in the last couple years, but that one is going to need a lot of work. there were some issues that were raised by your predecessor that we're still working on before he left the commission and that would be all of this this past year, but it's a work in progress and that would also require a work group and i think the work group has had some moving parts. people are coming on, but we need to get that back on track to get it in front of the commission. but it does need a lot of work. >> president cohen: okay. what about 7.one? >> that's the one i just mentioned with the juvenile. that one is going we

miller said would happen. folks at the fed would use the data as an excuse to say we are doing exactly the right thing and not doing anything. katie felt is with us. it felt as though the market thought about reacting to the data and then hit pause. i would hesitate to say we are seeing anything in the market. katie: you are totally right. if you look at the things that moved dramatically after we saw the data come out, you are seeing the moves pair. if we look at the s&p 500, the nasdaq 100, 10-year treasury yields. i want to focus attention on the five-year treasury yield. there is some action. even if you see the 10-year treasury rewind, those moves are about back to flat. five-year are still lower, about two basis points. that tells you traders are starting to pare back some of the fed hikes they had priced in. markets looked at the data, thought about what it meant for the fed and drove home the message that rates are going to be lower for longer. the fed will stay accommodative. some of that hopeful pricing, the hikes it had been priced in, you are seeing those come out of the market as the other move start to fade. matt: in

katy austin, bbc news. time for a look at the weather with nick miller. hello.arty chair after labour's poor performance in the local election results. despite falling short of an overall majority, the snp closes in on a fourth consecutive victory in the scottish parliamentary election. nicola sturgeon says the win is a mandate for another independence referendum. there is simply no democratic justification whatsoever for borisjohnson or indeed for anyone else seeking to block the right of the people of scotland to choose our own future. in wales, labour's mark drakeford remains first minister, after his party took half of the 60 seats in the senedd. labour's sadiq khan is on course to be re—elected mayor of london, following a closer than expected race against conservative candidate, shaun bailey. the conservatives gain councils in england, while labour candidates win mayoral elections in liverpool city and greater manchester where andy burnham is re—elected in a landslide. a man is arrested on suspicion of murder following the death of police community support