Samuel Feldman

Manager of the Office of Budget & Performance, a team of eight that plans and manages the District’s $1.5 billion annual expense budget, the District’s Strategic Plan and Key Performance Indicators, and grants administration. Additionally oversees research and innovation work and supports data science efforts. Started in the role as interim manager while still performing the duties of Debt Administrator, including issuing bonds for the District for the first time in three years, and was selected as the permanent Manager of Budget in May 2022 in an open recruitment.

During this tenure, significantly expanded the visibility of the role and played a key part in major strategic decisions, including a new process to prioritize the District’s Capital Improvement Program and to fund and publish a 10-year program instead of just five years. Additionally was tasked by the General Manager to start a new grants program and lead innovation efforts, including collaborating on a new approach to data science to improve operations and reduce long-term costs.

Significantly improved team morale after the retirement of the long-term Manager of Budget and the second-line manager in the division, as well as the challenging implementation of a new financial information system (Oracle ERP) in November 2021 and new budgeting software (Oracle EPM-Planning) in June 2022. Developed technical skills to lead report writing and implementation of EPM-Narrative Reporting, which automated elements of budget book preparation.

Frequently presents to the Board on the District’s Key Performance Indicators, annual budget performance, and development of the Biennial Budget.

Held lead responsibility for EBMUD’s debt program, comprising a combined $2.7 billion in long-term revenue bonds, $312.8 million in traditional commercial paper, $32.9 million in parity state revolving fund loans, and $9.3 million in extendable commercial paper. Revenue bonds included $105.3 million in variable rate demand bonds, synthetically fixed through LIBOR-indexed interest rate swap agreements. Also oversaw contracts for four liquidity support agreements, with Water and Wastewater System long-term ratings of AAA/Aaa/AA+ (Water) and AAA/Aa1/AA+ (Wastewater).

Led the rating process for the Water System during bond issuance that earned an upgrade to Aaa from Moody’s, making EBMUD the first California water agency with a Aaa rating from Moody’s, even during a drought and despite above-average leverage and exposure to variable-rate debt.

Led the concurrent process to issue $309.9 million in Water System Revenue Bonds and $35.5 million in Wastewater System Revenue Bonds, from selection of underwriters through RFQ/RFP to final closing. The Water System Revenue Bonds completed the District’s final de-risking transaction, eliminating the last variable rate swap agreements and converting all revenue bonds to fixed-rate debt, while producing refunding savings and providing new money proceeds for capital projects.

Developed and secured Board approval for revised Green Bonds Guidance and issued 2022 new money bonds for both systems with Green Bonds designation—the fourth issuance of Green Bonds for the Water System and the first for the Wastewater System.

Executed an RFP for Municipal Advisor Services within seven months of starting, resulting in two contracts with an expected value of $2.9 million over seven years. Negotiated costs to ensure pay equity and reasonable pricing and coordinated with Contract Equity and Risk Management to meet District goals.

Successfully managed extensions for two liquidity support agreements; presented and explained agreements to the Finance and Administration Committee and the full Board as the lowest-cost option based on analysis and peer comparisons.

Analyzed a potential Water Infrastructure Finance and Innovation Act (WIFIA) loan, coordinating cross-departmental work and external advisors. After significant financial and regulatory analysis, led the internal decision to decline the application due to higher expected costs relative to limited financial benefit and presented findings to Board committees and senior management.

Carefully estimated FY 2021 debt budget costs (combined budget of $248 million) to support a successful reduction in outstanding commercial paper principal and managed the pay-down and stakeholder communication process.

Served as primary manager of the wire process during an Investment Administrator vacancy, working with Accounting and Treasury staff to develop an interim process during implementation of a new financial system (Elsie), and trained a new hire on wire processes.

Recommended and completed an RFP for Bond Trustee and Related Services, transitioning from BNY Mellon to US Bank to improve record-keeping, reduce long-term costs, and enhance service.

Supported labor negotiations by estimating proposal costs and contributing to strategy and communication related to economic trends, cost estimates, and long-term affordability.

Assigned local government bond ratings, performing quantitative and qualitative analysis, communicating with local government officials and writing high-quality research on major topics in local government credit quality. Worked with municipal utilities, cities, counties, school districts, and special districts in the West region.

Authored notable national research on school district credit quality during the coronavirus pandemic and conducted training on measuring capital asset quality while continuing to research and publish on the topic.

Contributed to Moody’s 2018 and 2019 Local Government Outlooks, publications assessing strengths and challenges for local government credit quality nationwide.

Served as state lead for Oregon, Idaho, Utah and other states, including monitoring legislation, attending and presenting at conferences, and acting as primary resource for local governments.

Focused on process improvement, mentoring, team engagement, and cross-regional collaboration. Served on the leadership team of the San Francisco LGBTA Employee Resource Group.

Served as assistant to the City Manager and provided support to other city executives and the Mayor and City Council.

Led internal pension reform efforts, including two ballot proposals. Work included best-practice research, preparing and presenting reports to the City Council, and working with labor leaders and other stakeholders. Managed outside legal counsel and actuaries on contracts totaling approximately $250,000.

Co-chaired the Steering Committee and led local coordination for the Transforming Local Government Conference (April 2015), an annual national conference of the Alliance for Innovation.

Coordinated and conducted briefings for City Council members and media, communicated with department staff on administrative regulations and policy, provided staff support to two City Council Subcommittees and internal staff meetings, and supervised the Secretary to the City Manager while managing a wide variety of projects.

Worked with the Business Retention and Expansion Division to launch new processes for outreach and relationship-building with existing Phoenix businesses. Led pilot implementation of Salesforce for two divisions and completed training in tax policy with the Arizona Association for Economic Development.

One of two interns in the 61st class of the Phoenix Management Intern Program. Rotations included the City Manager's Office (six months), Water Services (three months) and Public Works (three months).

Worked on research and major policy initiatives, including leading development of the Phoenix Strategic Plan. Managed preparation of reports and responses to customer and City Council concerns during the early 2011 proposed water rate increase.

Taught more than ten upper-division public administration classes (organization theory, public budgeting, and program planning) for the NAU Extended Campus. Courses were delivered in hybrid format with both online and in-person activities and assignments.

Planned, managed, and created communication on health policy topics in Arizona. Work was largely self-directed and included technology, research, and communications, including framing of health policy issues.

Supported a national membership-based non-profit researching innovative local government practices. Researched best practices in areas including human resources and public service delivery and published three articles in print and online newsletters sent to 400 local governments.