It is recommended that the City Council: 1.) authorize the appropriation of $1,967,729 of available excess General Fund Operating Reserves for the following purposes: a. $238,229 to be paid to CalPERS to continue implementation of the Council’s direction to accelerate the amortization of the City’s unfunded pension liability from 30 years to 20 years or less; b. $229,500 to be deposited into the City’s Other Post-Employment Benefits (OPEB) Trust to pre-fund a portion of the City’s unfunded retiree medical liability; c. allocate $1.5 million towards Zone 6 Annual Pavement Project. 2.) authorize the appropriation of $82,540 from Library Fund Operating Reserves to fund the Library’s share of the CalPERS ($42,040) and OPEB Trust ($40,500) payments, 3.) receive and file the attached list of line-item budget transfers and supplemental budget appropriations for the entirety of fiscal year 2020/21, as required by City Council Policy F-4 – Supplemental Budget and Line-Item Transfers; and 4.) receive and file the attached year-end summary of the performance of the City’s managed investment portfolio.