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Home My WebLink About2026 04 08 FAC Special MeetingFINANCIAL ADVISORY COMMISSION 1 APRIL 8, 2026 SPECIAL MEETING NOTICE AND CALL OF SPECIAL MEETING OF THE LA QUINTA FINANCIAL ADVISORY COMMISSION TO THE MEMBERS OF THE LA QUINTA FINANCIAL ADVISORY COMMISSION AND TO THE COMMISSION SECRETARY: NOTICE IS HEREBY GIVEN that a Special Meeting of the La Quinta Financial Advisory Commission is hereby called to be held on Wednesday, April 8, 2026, commencing at 3:30 p.m. at La Quinta City Hall located at 78495 Calle Tampico, La Quinta, CA 92253 for the following purpose: CONSENT CALENDAR 1. RECEIVE AND FILE SPECIAL MEETING MINUTES DATED FEBRUARY 11, 2026 2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED DECEMBER 31, 2025 3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED JANUARY 31, 2026 BUSINESS SESSION 1. RECEIVE AND FILE FISCAL YEAR 2024/25 GENERAL FUND YEAR-END BUDGET REPORT 2. RECEIVE AND FILE FISCAL YEAR 2025/26 MID-YEAR BUDGET REPORT 3. RECEIVE AND FILE SECOND QUARTER FISCAL YEAR 2025/26 TREASURY REPORTS FOR OCTOBER, NOVEMBER AND DECEMBER 2025 STUDY SESSION 1. DISCUSS PROJECTS TO BE INCLUDED IN FISCAL YEAR 2026/27 THROUGH 2030/31 CAPITAL IMPROVEMENT PROGRAM 2. DISCUSS THE 2026 ANNUAL COMMUNITY WORKSHOP AND 2026/27 BUDGET PROCESS FINANCIAL ADVISORY COMMISSION 2 APRIL 8, 2026 SPECIAL MEETING 3. DISCUSS THE FISCAL YEAR 2026/27 INVESTMENT POLICY DEPARTMENTAL REPORTS 1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES Dated: April 3, 2026 /s/Ellen Way ELLEN WAY, Chairperson Attest: AMANDA GUERRERO, Commission Secretary DECLARATION OF POSTING I, Amanda Guerrero, Commission Secretary, do hereby declare that the foregoing Agenda for the Commission meeting was published in accordance with the Brown Act [Gov. Code § 54954.2] on the City’s website, accessible directly from the City’s home page through the “Calendar/ Public Meetings” icon link, and posted at the City Hall bulletin board, located near the entrance to the Council Chamber at 78495 Calle Tampico, La Quinta, CA 92253, on April 3, 2026, which is freely accessible to members of the public. AMANDA GUERRERO, Commission Secretary FINANCIAL ADVISORY COMMISSION Page 1 of 5 APRIL 8, 2026 SPECIAL MEETING – AGENDA FINANCIAL ADVISORY COMMISSION AGENDA CITY HALL COUNCIL CHAMBER 78495 Calle Tampico, La Quinta SPECIAL MEETING WEDNESDAY, APRIL 8, 2026, AT 3:30 P.M. Members of the public may listen to this meeting by tuning-in live via www.laquintaca.gov/livemeetings; past meetings are available through the video archive via www.laquintaca.gov/pastmeetings Closed captions in English and Spanish are available to all users through this video streaming service. CALL TO ORDER Roll Call: Commissioners Anderson, Dorsey, Kiehl, Lee, Mast, Niblo, and Chair Way PLEDGE OF ALLEGIANCE PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA At this time, members of the public may address the Commission on any matter not listed on the agenda pursuant to the “Public Comments – Instructions” listed at the end of the agenda. The Commission values your comments; however, in accordance with State law, no action shall be taken on any item not appearing on the agenda unless it is an emergency item authorized by the Brown Act [Gov. Code § 54954.2(b)]. CONFIRMATION OF AGENDA ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS – None CONSENT CALENDAR NOTE: Consent Calendar items are routine in nature and can be approved by one motion. PAGE 1. RECEIVE AND FILE SPECIAL MEETING MINUTES DATED FEBRUARY 11, 2026 7 Financial Advisory Commission agendas and staff reports are now available on the City’s website at www.LaQuintaCA.gov/PublicMeetings FINANCIAL ADVISORY COMMISSION Page 2 of 5 APRIL 8, 2026 SPECIAL MEETING – AGENDA 2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED DECEMBER 31, 2025 11 3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED JANUARY 31, 2026 17 BUSINESS SESSION PAGE 1. RECEIVE AND FILE FISCAL YEAR 2024/25 GENERAL FUND YEAR-END BUDGET REPORT 23 2. RECEIVE AND FILE FISCAL YEAR 2025/26 MID-YEAR BUDGET REPORT 41 3. RECEIVE AND FILE SECOND QUARTER FISCAL YEAR 2025/26 TREASURY REPORTS FOR OCTOBER, NOVEMBER AND DECEMBER 2025 49 STUDY SESSION PAGE 1. DISCUSS PROJECTS TO BE INCLUDED IN FISCAL YEAR 2026/27 THROUGH 2030/31 CAPITAL IMPROVEMENT PROGRAM 123 2. DISCUSS THE 2026 ANNUAL COMMUNITY WORKSHOP AND 2026/27 BUDGET PROCESS 131 3. DISCUSS THE FISCAL YEAR 2026/27 INVESTMENT POLICY 135 DEPARTMENTAL REPORTS PAGE 1. FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES 165 COMMISSIONERS’ ITEMS ADJOURNMENT ********************************* The next meeting of the Commission will be held on May 13, 2026, commencing at 3:30 p.m., at the La Quinta City Hall Council Chamber, 78495 Calle Tampico, La Quinta, CA 92253. DECLARATION OF POSTING I, Amanda Guerrero, Secretary of the Financial Advisory Commission of the City of La Quinta, do hereby declare that the foregoing Agenda for the Commission meeting was published in accordance with the Brown Act [Gov. Code § 54954.2] on the City’s website, FINANCIAL ADVISORY COMMISSION Page 3 of 5 APRIL 8, 2026 SPECIAL MEETING – AGENDA accessible directly from the City’s home page through the “Calendar/ Public Meetings” icon link, and posted at the City Hall bulletin board, located near the entrance to the Council Chamber at 78495 Calle Tampico, La Quinta, CA 92253, on April 3, 2026, which is freely accessible to members of the public. DATED: April 3, 2026 Amanda Guerrero, Commission Secretary City of La Quinta, California PUBLIC NOTICES Agenda packet materials are available for public inspection: 1) at the Clerk’s Office at La Quinta City Hall, located at 78495 Calle Tampico, La Quinta, CA 92253; and 2) on the City’s website at www.laquintaca.gov/publicmeetings in accordance with the Brown Act [Gov. Code §§ 54954.2, 54956, and 54957.5]. The La Quinta City Council Chamber is wheelchair accessible. If hearing assistance equipment is needed, please contact the City Clerk’s office at (760) 777-7147, 24-hours in advance of the meeting and accommodation will be made. If background material is to be presented to the Commission during a Commission meeting, please be advised that 15 copies of all documents, exhibits, etc., must be supplied to the Commission Secretary for distribution. It is requested that this takes place prior to the beginning of the meeting. PUBLIC COMMENTS – INSTRUCTIONS Members of the public may address the Commission on any matter listed or not listed on the agenda as follows: WRITTEN PUBLIC COMMENTS can be provided either in-person during the meeting by submitting 15 copies to the Commission Secretary, it is requested that this takes place prior to the beginning of the meeting; or can be emailed in advance to Finance@LaQuintaCA.gov, no later than 12:00 p.m., on the day of the meeting. Written public comments will be distributed to the Commission, made public, and will be incorporated into the public record of the meeting, but will not be read during the meeting unless, upon the request of the Chair, a brief summary of public comments is asked to be reported. If written public comments are emailed, the email subject line must clearly state “Written Comments” and should include: 1) full name, 2) city of residence, and 3) subject matter. VERBAL PUBLIC COMMENTS can be provided in-person during the meeting by completing a “Request to Speak” form and submitting it to the Commission Secretary; it is requested that this takes place prior to the beginning of the meeting. Please limit your comments to FINANCIAL ADVISORY COMMISSION Page 4 of 5 APRIL 8, 2026 SPECIAL MEETING – AGENDA three (3) minutes (or approximately 350 words). Only one person at a time may speak and only after being recognized by the Chair. In accordance with City Council Resolution No. 2022-028, a one-time additional speaker time donation of three (3) minutes per individual is permitted; please note that the member of the public donating time must: 1) submit this in writing to the Commission Secretary by completing a “Request to Speak” form noting the name of the person to whom time is being donated to, and 2) be present at the time the speaker provides verbal comments. Members of the public who utilize a translator shall be provided at least twice of the allotted time to ensure non-English speakers receive the same opportunity to directly address the Commission. Verbal public comments are defined as comments provided in the speakers’ own voice and may not include video or sound recordings of the speaker or of other individuals or entities, unless permitted by the Chair. Public speakers may elect to use printed presentation materials to aid their comments; 15 copies of such printed materials shall be provided to the Commission Secretary to be disseminated to the Commission, made public, and incorporated into the public record of the meeting; it is requested that the printed materials are provided prior to the beginning of the meeting. There shall be no use of Chamber resources and technology to display visual or audible presentations during public comments, unless permitted by the Chair. All writings or documents, including but not limited to emails and attachments to emails, submitted to the City regarding any item(s) listed or not listed on this agenda are public records. All information in such writings and documents is subject to disclosure as being in the public domain and subject to search and review by electronic means, including but not limited to the City’s Internet website and any other Internet Web-based platform or other Web-based form of communication. All information in such writings and documents similarly is subject to disclosure pursuant to the California Public Records Act [Gov. Code § 7920.000 et seq.]. TELECONFERENCE ACCESSIBILITY – INSTRUCTIONS Teleconference accessibility may be triggered in accordance with the Brown Act “during a proclaimed state of emergency or local emergency,” as defined [Gov. Code § 54953.8.2]; or if a member of the Commission requests to attend and participate in this meeting remotely pursuant to any of the following: (1) “disability” [Gov. Code § 54953(c)], or (2) “just cause” [Gov. Code § 54953.8.3], as defined. In such instances, remote public accessibility and participation will be facilitated via the Zoom Webinar audio-visual platform as detailed at the end of this agenda. *** TELECONFERENCE AND TELEPHONIC PROCEDURES*** APPLICABLE ONLY WHEN TELECONFERENCE ACCESSIBILITY IS IN EFFECT ZOOM LINK: https://us06web.zoom.us/s/88164609917 FINANCIAL ADVISORY COMMISSION Page 5 of 5 APRIL 8, 2026 SPECIAL MEETING – AGENDA Meeting ID: 881 6560 9917 Or join by phone: (253) 215 – 8782 VERBAL PUBLIC COMMENTS – members of the public may attend and participate in this meeting by teleconference or telephonic accessibility via the Zoom Webinar audio- visual platform and must activate the “Raise Hand” feature on their electronic devise (*9 for telephonic participation) when public comments are prompted by the Chair, and will be queued in consecutive order; the City will facilitate the ability for a member of the public to be audible to the Commission and general public and allow them to speak on the item(s) requested. Members of the public must unmute themselves via the “Audio” feature on their electronic devise (*6 for telephonic participation) when prompted upon being recognized by the Chair, in order to become audible to the Commission and the public . WRITTEN PUBLIC COMMENTS can be provided either in person during the meeting or emailed to Finance@LaQuintaCA.gov any time prior to the adjournment of the meeting, and will be distributed to the Commission, made public, incorporated into the public record of the meeting, and will not be read during the meeting unless, upon the request of the Chair, a brief summary of any public comment is asked to be read, to the extent the Commission Secretary can accommodate such request. CLOSED CAPTION AND TRANSLATION Closed Caption and Translation are accessible through the Zoom Webinar audio-visual platform and accessible in real-time to all teleconference attendees. Members of the public must activate the “Show Captions” feature on their device for closed caption; and may use the “Options Arrow” to select from the list of available languages for translation. *9 *6 6 FINANCIAL ADVISORY COMMISSION Page 1 of 3 FEBRUARY 11, 2026 SPECIAL MEETING – MINUTES FINANCIAL ADVISORY COMMISSION SPECIAL MEETING MINUTES WEDNESDAY, FEBRUARY 11, 2026 CALL TO ORDER A special meeting of the La Quinta Financial Advisory Commission (Commission) was called to order at 2:30 p.m. by Chair Way. PRESENT: Commissioners Anderson, Dorsey, Kiehl, Lee, Mast, and Chair Way ABSENT: Commissioner Niblo PLEDGE OF ALLEGIANCE Commissioner Kiehl led the audience in the Pledge of Allegiance. PUBLIC COMMENT ON MATTERS NOT ON THE AGENDA – None CONFIRMATION OF AGENDA – Confirmed ANNOUNCEMENTS, PRESENTATIONS, AND WRITTEN COMMUNICATIONS 1.HIGHWAY 111 CORRIDOR SPECIFIC PLAN AND DEVELOPMENT CODE PROJECT – PLANNING UPDATE Planning Manager Flores provided a detailed overview of the Highway 111 Corridor Specific Plan and Development Code Project, outlining the project’s history, community outreach efforts, and coordination with engineering and planning consultants to develop roadway design concepts and updated zoning regulations; explained that the proposed updates would unify corridor development standards under a single framework, replacing multiple individual plans, and outlined four development types – mixed-use centers, mixed-use neighborhoods, compact creative retail, and lodging/services – with active frontage policies to promote pedestrian areas and an auto-oriented overlay for drive- throughs and auto services; and highlighted affordable housing opportunities on City- owned properties to support low- and very-low-income units, assist in meeting Regional Housing Needs Assessment (RHNA) state requirements and pursue development partnerships pursuant to the California Surplus Land Act. The Commission discussed traffic impacts associated with recent and future development; potential mitigation measures and ongoing monitoring of traffic circulation and lighting; coordination with Desert Sands Unified School District regarding projected student generation; zoning updates and compliance thresholds; workforce housing and affordability categories; developer participation and property owner outreach; and City CONSENT CALENDAR ITEM NO. 1 7 FINANCIAL ADVISORY COMMISSION Page 2 of 3 FEBRUARY 11, 2026 SPECIAL MEETING – MINUTES acquisition of parcels along the Highway 111 corridor. General discussion followed regarding economic vitality, affordable housing objectives, infrastructure capacity, and long-term community impacts. CONSENT CALENDAR ITEMS 1.RECEIVE AND FILE SPECIAL MEETING MINUTES DATED DECEMBER 3, 2025 2. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED OCTOBER 31, 2025 3. RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED NOVEMBER 30, 2025 MOTION – A motion was made and seconded by Commissioners Dorsey/Mast to approve the Consent Calendar as presented. Motion passed: ayes – 6, noes – 0, abstain – 0, absent – 1 (Niblo). BUSINESS SESSION 1.RECEIVE AND FILE THE ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR YEAR ENDED JUNE 30, 2025 Finance Director Martinez presented the staff report, which is on file in the Finance Department. Ryan Domino, Assurance Partner with Lance, Soil & Lunghard, LLP (LSL), provided a detailed presentation of the audit scope, process, and outcomes; highlighting the risk- based approach, interim and final audit procedures, and evaluation of internal controls, compliance and significant financial estimates, such as pension and Other Post- Employment Benefits (OPEB) liabilities; reiterated that the auditors issued an unmodified opinion on the City’s financial statements, and confirmed that the prior year’s finding regarding timeliness of reporting had been resolved; noted an accounting policy change under Governmental Accounting Standards Board (GASB) Statement 101 for compensated absences with minimal fiscal impact; and emphasized the audit was completed with full cooperation from staff. The Commission discussed the audit team’s experience and composition, effective communication and coordination with City staff, and the timely completion of the audit. MOTION – A motion was made and seconded by Commissioners Kiehl/Dorsey to receive and file the Annual Comprehensive Financial Report for the year ended June 30, 2025, as presented. Motion passed: ayes – 6, noes – 0, abstain – 0, absent – 1 (Niblo). STUDY SESSION – None 8 FINANCIAL ADVISORY COMMISSION Page 3 of 3 FEBRUARY 11, 2026 SPECIAL MEETING – MINUTES DEPARTMENTAL REPORTS 1.FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES Staff provided updates on current and upcoming Finance Department initiatives, noting that the Annual Comprehensive Financial Report (ACFR) has been published and the Single Audit is underway; announced that the Finance Department will be recognized during Government Finance Professionals Week, March 23-27, 2026, as part of a statewide initiative supported by the California Society of Municipal Finance Officers (CSMFO), with a City Council proclamation scheduled for March 17, 2026. Staff highlighted upcoming City events including the hazardous waste collection event and the La Quinta Art Celebration. 2. SALES TAX UPDATE – THIRD QUARTER 2025 (JULY – SEPTEMBER) Staff provided an update on third quarter 2025 sales tax and Measure G revenues, noting continued growth across major industries, including restaurants, hotels and general consumer goods, as well as increased county and state pool allocations. Staff also reviewed changes to the City’s top 25 sales tax-generating businesses, noting that the list may fluctuate quarterly. The Commission discussed current economic trends, consumer spending patterns, and factors influencing year-to-date revenue projections. COMMISSIONERS’ ITEMS – None ADJOURNMENT There being no further business, it was moved and seconded by Commissioners Lee/Mast to adjourn this meeting at 3:43 p.m. Motion passed: ayes – 6, noes – 0, abstain – 0, absent – 1 (Niblo). Respectfully submitted, Amanda Guerrero, Commission Secretary City of La Quinta, California 9 10 City of La Quinta FINANCIAL ADVISORY COMMISSION SPECIAL MEETING: April 8, 2026 STAFF REPORT AGENDA TITLE: RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED DECEMBER 31, 2025 RECOMMENDATION Receive and file revenue and expenditure report dated December 31, 2025. EXECUTIVE SUMMARY The report summarizes the City’s year-to-date (YTD) and month-to-date (MTD) revenues and expenditures for December 2025 (Attachment 1). These reports are also reviewed by the City Council. FISCAL IMPACT – None. BACKGROUND/ANALYSIS Below is a summary of the column headers used on the Revenue and Expenditure Summary Reports: Original Total Budget – represents revenue and expenditure budgets the Council adopted in June 2025 for fiscal year 2025/26. Current Total Budget – represents original adopted budgets plus any Council approved budget amendments from throughout the year, including any carryovers from fiscal year 2024/25. Period Activity – represents actual revenues received and expenditures outlaid in the reporting month. Fiscal Activity – represents actual revenues received and expenditures outlaid YTD. Variance Favorable/(Unfavorable) - represents the dollar difference between YTD collections/expenditures and the current budgeted amount. Percent Used – represents the percentage activity as compared to budget YTD. CONSENT CALENDAR ITEM NO. 2 11 Revenues are not received uniformly throughout the year, resulting in peaks and valleys. For example, large property tax payments are usually received in December and May. Similarly, Redevelopment Property Tax Trust Fund payments are typically received in January and June. Any timing imbalance of revenue receipts versus expenditures is funded from the City’s cash flow reserve. Unlike revenues, expenditures are more likely to be consistent from month to month. However, large debt service payments or CIP expenditures can cause swings. Prepared by: Rosemary Hallick, Principal Management Analyst Approved by: Claudia Martinez, Finance Director/City Treasurer Attachment: 1. Revenue and Expenditure Report for December 31, 2025 MTD YTD Percent of Budget YTD Percent of Budget General Fund (GF)$7,111,504 $21,805,249 23.64% $22,699,584 25.88% All Funds $13,999,436 $43,171,451 18.12% $36,241,335 16.66% MTD YTD Percent of Budget YTD Percent of Budget General Fund $6,763,537 $27,678,057 22.18% $20,554,986 19.37% Payroll (GF)$1,311,078 $5,894,557 38.70% $5,555,629 39.32% All Funds $10,320,182 $66,503,975 25.10% $60,260,697 25.06% December 2025 Expenditures Comparison to 2024 Total revenue and expenditure figures are inclusive of internal accounting entries such as transfers in/out and internal service fund quarterly allocations, which are not reflected individually in the Top Five chart. December 2025 Revenues Comparison to 2024 General Fund Non-General Fund Property Tax 2,759,933$ Federal Funding (Hwy 111)2,462,266$ Measure G Sales Tax 1,441,580$ Allocated Interest 1,058,876$ Transient Occupancy (Hotel) Tax 1,194,198$ SilverRock Green Fees 644,756$ Sales Tax 1,152,415$ Gas Tax 170,906$ STVR Registration Fees 122,150$ County Sales Tax (Measure A)157,317$ General Fund Non-General Fund Sheriff Contract (Aug/Sept/Oct)2,448,469$ Capital Improvement Program - Construction(1)1,569,347$ Contract Legal Services 627,324$ Capital Improvement Program - Design(2)239,002$ Marketing and Tourism Promotions 153,710$ SilverRock Maintenance 194,169$ Community Experiences 132,764$ Contract IT Management 71,263$ Parks Landscape Maintenance Contract 95,819$ Computers 67,614$ (1)CIP Construction: Dune Palms Bridge, Fritz Burns Park improvements, signal/crosswalk improvements (2)CIP Design: Contracted design expenses associated with maintenance & operations yard, Hwy 111 corridor plan, Avenue 50 bridge, and citywide irrigation improvements Top Five Revenue/Income Sources for December Top Five Expenditures/Outlays for December 12 Page 1 of 3 City Council Month Revenue Report Group Summary For Fiscal: 2025/26 Period Ending: 12/31/2025 Fiscal Activity Variance Favorable (Unfavorable) Period ActivityFun… Current Total Budget Original Total Budget Percent Used 101 - GENERAL FUND 21,805,249.007,111,503.8292,242,254.00 92,242,254.00 -70,437,005.00 23.64% 105 - DISASTER RECOVERY FUND -5,164.700.00172,000.00 172,000.00 -177,164.70 3.00% 201 - GAS TAX FUND 833,187.84170,906.113,217,705.00 3,217,705.00 -2,384,517.16 25.89% 202 - LIBRARY & MUSEUM FUND 226,179.68467.754,420,000.00 4,420,000.00 -4,193,820.32 5.12% 203 - PUBLIC SAFETY FUND (MEASURE G)-178.200.006,000.00 6,000.00 -6,178.20 2.97% 210 - FEDERAL ASSISTANCE FUND 138,248.030.00160,100.00 314,033.00 -175,784.97 44.02% 212 - SLESA (COPS) FUND 125,879.838,333.33121,000.00 121,000.00 4,879.83 104.03% 215 - LIGHTING & LANDSCAPING FUND 32,587.230.003,862,100.00 3,862,100.00 -3,829,512.77 0.84% 221 - AB 939 - CALRECYCLE FUND 14,378.053,870.2991,000.00 91,000.00 -76,621.95 15.80% 223 - MEASURE A FUND 603,801.94157,317.221,900,000.00 1,900,000.00 -1,296,198.06 31.78% 226 - EMERGENCY MANAGEMENT PERFORMANCE GRANT (EMPG)0.000.0010,000.00 10,000.00 -10,000.00 0.00% 227 - STATE HOMELAND SECURITY PROGRAMS (SHSP)0.000.005,400.00 5,400.00 -5,400.00 0.00% 230 - CASp FUND, AB 1379 8,817.451,568.0024,000.00 24,000.00 -15,182.55 36.74% 231 - SUCCESSOR AGCY PA 1 RORF 12,996.46102.0720,333,000.00 20,333,000.00 -20,320,003.54 0.06% 235 - SO COAST AIR QUALITY FUND 13,070.3313,209.7857,000.00 57,000.00 -43,929.67 22.93% 237 - SUCCESSOR AGCY PA 1 ADMIN -184.150.0012,320.00 12,320.00 -12,504.15 1.49% 241 - HOUSING AUTHORITY 597,341.8065,485.401,666,000.00 1,666,000.00 -1,068,658.20 35.85% 243 - RDA LOW-MOD HOUSING FUND -4,495.490.00130,000.00 130,000.00 -134,495.49 3.46% 247 - ECONOMIC DEVELOPMENT FUND 20,462.733,471.66109,000.00 109,000.00 -88,537.27 18.77% 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)48,664.6924,068.1386,000.00 86,000.00 -37,335.31 56.59% 250 - TRANSPORTATION DIF FUND 275,767.1240,090.00579,000.00 579,000.00 -303,232.88 47.63% 251 - PARKS & REC DIF FUND 133,600.7521,060.00203,000.00 203,000.00 -69,399.25 65.81% 252 - CIVIC CENTER DIF FUND 78,553.6712,300.00160,000.00 160,000.00 -81,446.33 49.10% 253 - LIBRARY DEVELOPMENT DIF 25,467.003,970.0030,500.00 30,500.00 -5,033.00 83.50% 254 - COMMUNITY & CULTURAL CENTERS DIF 60,524.579,560.0095,000.00 95,000.00 -34,475.43 63.71% 257 - FIRE PROTECTION DIF 23,474.973,690.0051,000.00 51,000.00 -27,525.03 46.03% 259 - MAINTENANCE FACILITIES DIF FUND 21,342.083,130.0047,000.00 47,000.00 -25,657.92 45.41% 270 - ART IN PUBLIC PLACES FUND 53,608.2418,028.14181,000.00 181,000.00 -127,391.76 29.62% 299 - INTEREST ALLOCATION FUND 4,567,543.811,058,875.760.00 0.00 4,567,543.81 0.00% 310 - LQ FINANCE AUTHORITY DEBT SERVICE 0.000.001,000.00 1,000.00 -1,000.00 0.00% 401 - CAPITAL IMPROVEMENT PROGRAMS 7,086,052.202,488,589.3824,293,033.00 93,976,127.98 -86,890,075.78 7.54% 501 - FACILITY & FLEET REPLACEMENT 817,724.43397,375.001,745,500.00 1,745,500.00 -927,775.57 46.85% 502 - INFORMATION TECHNOLOGY 2,170,329.801,057,078.134,195,000.00 4,195,000.00 -2,024,670.20 51.74% 503 - PARK EQUIP & FACILITY FUND 488,844.86246,250.001,035,000.00 1,035,000.00 -546,155.14 47.23% 504 - INSURANCE FUND 688,360.68344,735.251,395,941.00 1,395,941.00 -707,580.32 49.31% 601 - SILVERROCK RESORT 1,751,322.76700,479.625,470,000.00 5,470,000.00 -3,718,677.24 32.02% 760 - SUPPLEMENTAL PENSION PLAN -61.890.007,000.00 7,000.00 -7,061.89 0.88% 761 - CERBT OPEB TRUST 141,617.2032,937.0840,000.00 40,000.00 101,617.20 354.04% 762 - PARS PENSION TRUST 316,536.57984.39200,000.00 200,000.00 116,536.57 158.27% Report Total:13,999,436.31 43,171,451.34168,353,853.00 238,190,880.98 -195,019,429.64 18.12% Accounts are subject to adjusting entries and audit. The City's Annual Comprehensive Financial Report, published annually, is the best resource for all final audited numbers. ATTACHMENT 1 13 Page 2 of 3 City Council Month Expense Report Group Summary For Fiscal: 2025/26 Period Ending: 12/31/2025 Fiscal Activity Variance Favorable (Unfavorable) Period ActivityFun… Current Total Budget Original Total Budget Percent Used 101 - GENERAL FUND 27,678,056.776,763,536.8592,822,188.00 124,767,095.58 97,089,038.81 22.18% 105 - DISASTER RECOVERY FUND 0.000.004,993,504.00 4,993,504.00 4,993,504.00 0.00% 201 - GAS TAX FUND 962,644.45305,707.903,224,885.00 5,369,867.76 4,407,223.31 17.93% 202 - LIBRARY & MUSEUM FUND 496,663.6172,994.373,149,391.00 5,112,850.74 4,616,187.13 9.71% 210 - FEDERAL ASSISTANCE FUND 138,248.030.00160,000.00 313,933.00 175,684.97 44.04% 212 - SLESA (COPS) FUND 0.000.00100,000.00 100,000.00 100,000.00 0.00% 215 - LIGHTING & LANDSCAPING FUND 1,678,517.98320,441.373,854,500.00 3,854,500.00 2,175,982.02 43.55% 221 - AB 939 - CALRECYCLE FUND 38,689.507,025.00205,000.00 205,000.00 166,310.50 18.87% 223 - MEASURE A FUND 671,656.881,935.001,124,132.00 4,834,347.80 4,162,690.92 13.89% 226 - EMERGENCY MANAGEMENT PERFORMANCE GRANT (EMPG)10,335.000.0010,000.00 10,000.00 -335.00 103.35% 227 - STATE HOMELAND SECURITY PROGRAMS (SHSP)0.000.005,000.00 5,000.00 5,000.00 0.00% 230 - CASp FUND, AB 1379 454.400.005,500.00 5,500.00 5,045.60 8.26% 231 - SUCCESSOR AGCY PA 1 RORF 15,115,644.820.004,271,147.00 4,271,147.00 -10,844,497.82 353.90% 235 - SO COAST AIR QUALITY FUND 0.000.0040,000.00 40,000.00 40,000.00 0.00% 237 - SUCCESSOR AGCY PA 1 ADMIN 1,800.000.0011,000.00 11,000.00 9,200.00 16.36% 241 - HOUSING AUTHORITY 801,560.37165,160.921,709,533.00 1,709,533.00 907,972.63 46.89% 243 - RDA LOW-MOD HOUSING FUND 375,000.000.00325,000.00 325,800.00 -49,200.00 115.10% 247 - ECONOMIC DEVELOPMENT FUND 3,430.78347.7831,500.00 31,500.00 28,069.22 10.89% 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)0.000.00150,000.00 150,000.00 150,000.00 0.00% 250 - TRANSPORTATION DIF FUND 400,759.500.00979,109.00 3,377,883.19 2,977,123.69 11.86% 251 - PARKS & REC DIF FUND 0.000.000.00 648,950.00 648,950.00 0.00% 252 - CIVIC CENTER DIF FUND 0.000.000.00 249,925.00 249,925.00 0.00% 253 - LIBRARY DEVELOPMENT DIF 0.000.0015,000.00 15,000.00 15,000.00 0.00% 254 - COMMUNITY & CULTURAL CENTERS DIF 0.000.00482,561.00 792,914.42 792,914.42 0.00% 259 - MAINTENANCE FACILITIES DIF FUND 73,248.620.00362,526.00 362,526.00 289,277.38 20.21% 270 - ART IN PUBLIC PLACES FUND 52,163.5313,567.75233,000.00 689,252.37 637,088.84 7.57% 310 - LQ FINANCE AUTHORITY DEBT SERVICE 0.000.001,000.00 1,000.00 1,000.00 0.00% 401 - CAPITAL IMPROVEMENT PROGRAMS 12,201,239.041,950,824.8524,293,033.00 88,703,905.87 76,502,666.83 13.76% 501 - FACILITY & FLEET REPLACEMENT 456,766.6533,251.701,745,913.00 2,027,526.55 1,570,759.90 22.53% 502 - INFORMATION TECHNOLOGY 1,344,287.94216,163.204,195,820.00 4,195,820.00 2,851,532.06 32.04% 503 - PARK EQUIP & FACILITY FUND 517,108.1215,819.55935,000.00 935,000.00 417,891.88 55.31% 504 - INSURANCE FUND 1,184,279.64701.061,242,600.00 1,242,600.00 58,320.36 95.31% 601 - SILVERROCK RESORT 2,269,672.85449,213.935,517,000.00 5,517,000.00 3,247,327.15 41.14% 760 - SUPPLEMENTAL PENSION PLAN 12,832.860.0012,850.00 12,850.00 17.14 99.87% 761 - CERBT OPEB TRUST 813.87414.741,500.00 1,500.00 686.13 54.26% 762 - PARS PENSION TRUST 18,100.143,076.1730,000.00 30,000.00 11,899.86 60.33% Report Total:10,320,182.14 66,503,975.35156,239,192.00 264,914,232.28 198,410,256.93 25.10% Accounts are subject to adjusting entries and audit. The City's Annual Comprehensive Financial Report, published annually, is the best resource for all final audited numbers. 14 Fund #Name Notes 101 General Fund The primary fund of the City used to account for all revenue and expenditures of the City; a broad range of municipal activities are provided through this fund. 105 Disaster Recovery Fund Accounts for use of one-time federal funding designed to deliver relief to American workers and aid in the economic recovery iin the wake of COVID-19. The American Rescue Plan Act (ARPA) was passed by Congress in 2021 to provide fiscal recovery funds to state and local governments. 201 Gas Tax Fund Gasoline sales tax allocations received from the State which are restricted to street-related expenditures. 202 Library and Museum Fund Revenues from property taxes and related expenditures for library and museum services. 203 Public Safety Fund General Fund Measure G sales tax revenue set aside for public safety expenditures. 210 Federal Assistance Fund Community Development Block Grant (CDBG) received from the federal government and the expenditures of those resources. 212 SLESF (COPS) Fund Supplemental Law Enforcement Services Funds (SLESF) received from the State for law enforcement activities. Also known as Citizen's Option for Public Safety (COPS). 215 Lighting & Landscaping Fund Special assessments levied on real property for city-wide lighting and landscape maintenance/improvements and the expenditures of those resources. 220 Quimby Fund Developer fees received under the provisions of the Quimby Act for park development and improvements. 221 AB939 Fund/Cal Recycle Franchise fees collected from the city waste hauler that are used to reduce waste sent to landfills through recycling efforts. Assembly Bill (AB) 939.223 Measure A Fund County sales tax allocations which are restricted to street-related expenditures. 224 TUMF Fund Developer-paid Transportation Uniform Mitigation Fees (TUMF) utilized for traffic projects in Riverside County. 225 Infrastructure Fund Developer fees for the acquisition, construction or improvement of the City’s infrastructure as defined by Resolution 226 Emergency Mgmt. Performance Grant (EMPG)Federal Emergency Management Agency (FEMA) grant for emergency preparedness. 227 State Homeland Security Programs (SHSP)Federal Emergency Management Agency (FEMA) grant for emergency preparedness. 230 CASP Fund, AB1379 / SB1186 Certified Access Specialist (CASp) program fees for ADA Accessibility Improvements; derived from Business License renewals. Assembly Bill (AB) 1379 and Senate Bill (SB) 1186. 231 Successor Agency PA 1 RORF Fund Successor Agency (SA) Project Area (PA) 1 Redevelopment Obligation Retirement Fund (RORF) for Redevelopment Property Tax Trust Fund (RPTTF) taxes received for debt service payments on recognized obligations of the former Redevelopment Agency (RDA). 235 SO Coast Air Quality Fund (AB2766, PM10)Contributions from the South Coast Air Quality Management District. Uses are limited to the reduction and control of airborne pollutants. Assembly Bill (AB) 2766. 237 Successor Agency PA 1 Admin Fund Successor Agency (SA) Project Area (PA) 1 for administration of the Recognized Obligation Payment Schedule (ROPS) associated with the former Redevelopment Agency (RDA). 241 Housing Authority Activities of the Housing Authority which is to promote and provide quality affordable housing. 243 RDA Low-Moderate Housing Fund Activities of the Housing Authority which is to promote and provide quality affordable housing. Accounts for RDA loan repayments (20% for Housing) and housing programs,. 244 Housing Grants Activites related Local Early Action Planning (LEAP) and SB2 grants for housing planning and development. 247 Economic Development Fund Proceeds from sale of City-owned land and transfers from General Fund for future economic development. 249 SA 2011 Low/Mod Bond Fund Successor Agency (SA) low/moderate housing fund; 2011 bonds refinanced in 2016. 250 Transportation DIF Fund Developer impact fees collected for specific public improvements - transportation related. 251 Parks & Rec. DIF Fund Developer impact fees collected for specific public improvements - parks and recreation. 252 Civic Center DIF Fund Developer impact fees collected for specific public improvements - Civic Center. 253 Library Development DIF Fund Developer impact fees collected for specific public improvements - library. 254 Community Center DIF Fund Developer impact fees collected for specific public improvements - community center. 255 Street Facility DIF Fund Developer impact fees collected for specific public improvements - streets. 256 Park Facility DIF Fund Developer impact fees collected for specific public improvements - parks. 257 Fire Protection DIF Fund Developer impact fees collected for specific public improvements - fire protection. 259 Maintenance Facilities DIF Fund Developer impact fees collected for specific public improvements - maintenance facilities. 270 Art In Public Places Fund Developer fees collected in lieu of art placement; utilized for acquisition, installation and maintenance of public artworks. 275 LQ Public Safety Officer Fund Annual transfer in from General Fund; distributed to public safety officers disabled or killed in the line of duty. 299 Interest Allocation Fund Interest earned on investments. 310 LQ Finance Authority Debt Service Fund Accounted for the debt service the Financing Authority’s outstanding debt and any related reporting requirements. This bond was fully paid in October 2018. 401 Capital Improvement Program Fund Planning, design, and construction of various capital projects throughout the City. 405 SA PA 1 Capital Improvement Fund Successor Agency (SA) Project Area (PA) 1 bond proceeds restricted by the bond indenture covenants. Used for SilverRock infrastructure improvements. 501 Equipment Replacement Fund Internal Service Fund for vehicles, heavy equipment, and related facilities. 502 Information Technology Fund Internal Service Fund for computer hardware and software and phone systems. 503 Park Equipment & Facility Fund Internal Service Fund for park equipment and facilities. 504 Insurance Fund Internal Service Fund for city-wide insurance coverages. 601 SilverRock Resort Fund Enterprise Fund for activities of the city-owned golf course. 602 SilverRock Golf Reserve Fund Enterprise Fund for golf course reserves for capital improvements. 760 Supplemental Pension Plan (PARS Account)Supplemental pension savings plan for excess retiree benefits to general employees of the City. 761 Other Post Benefit Obligation Trust (OPEB)For retiree medical benefits and unfunded liabilities. 762 Pension Trust Benefit (PARS Account)For all pension-related benefits and unfunded liabilities. Fund Descriptions Page 3 of 3 15 16 City of La Quinta FINANCIAL ADVISORY COMMISSION SPECIAL MEETING: April 8, 2026 STAFF REPORT AGENDA TITLE: RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED JANUARY 31, 2026 RECOMMENDATION Receive and file revenue and expenditure report dated January 31, 2026. EXECUTIVE SUMMARY The report summarizes the City’s year-to-date (YTD) and month-to-date (MTD) revenues and expenditures for January 2026 (Attachment 1). These reports are also reviewed by the City Council. FISCAL IMPACT – None. BACKGROUND/ANALYSIS Below is a summary of the column headers used on the Revenue and Expenditure Summary Reports: Original Total Budget – represents revenue and expenditure budgets the Council adopted in June 2025 for fiscal year 2025/26. Current Total Budget – represents original adopted budgets plus any Council approved budget amendments from throughout the year, including any carryovers from fiscal year 2024/25. Period Activity – represents actual revenues received and expenditures outlaid in the reporting month. Fiscal Activity – represents actual revenues received and expenditures outlaid YTD. Variance Favorable/(Unfavorable) - represents the dollar difference between YTD collections/expenditures and the current budgeted amount. Percent Used – represents the percentage activity as compared to budget YTD. CONSENT CALENDAR ITEM NO. 3 17 Revenues are not received uniformly throughout the year, resulting in peaks and valleys. For example, large property tax payments are usually received in December and May. Similarly, Redevelopment Property Tax Trust Fund payments are typically received in January and June. Any timing imbalance of revenue receipts versus expenditures is funded from the City’s cash flow reserve. Unlike revenues, expenditures are more likely to be consistent from month to month. However, large debt service payments or CIP expenditures can cause swings. Prepared by: Rosemary Hallick, Principal Management Analyst Approved by: Claudia Martinez, Finance Director/City Treasurer Attachment: 1. Revenue and Expenditure Report for January 31, 2026 MTD YTD YTD Percent of Budget YTD Percent of Budget General Fund (GF) $9,348,392 $31,153,641 33.77% $37,830,906 43.13% All Funds $16,727,977 $59,976,871 25.18% $63,176,275 29.05% MTD YTD YTD Percent of Budget YTD Percent of Budget General Fund $3,613,363 $31,345,352 25.12% $31,591,251 29.77% Payroll (GF)$1,326,766 $7,221,323 47.41% $6,765,861 47.88% All Funds $5,045,358 $71,812,063 27.11% $75,195,725 31.24% January 2026 Revenues Comparison to 2025 January 2026 Expenditures Comparison to 2025 General Fund Non-General Fund Property Tax 4,300,419$ County Government Revenue(1)5,116,770$ Measure G Sales Tax 1,298,233$ SilverRock Green Fees 691,246$ Transient Occupancy Tax (TOT)1,217,585$ Lighting and Landscape District Assessments 526,225$ Sales Tax 1,021,291$ Gas Tax 161,677$ CSA-152 Assessments 640,838$ County Sales Tax (Measure A)146,814$ General Fund Non-General Fund Sheriff Contract (Oct/Nov)1,258,459$ Capital Improvement Program - Design(2)216,228$ Contract Legal Services 230,713$ SilverRock Golf Course Maintenance 198,297$ Parks Landscape Maintenance Contract 95,819$ Lighting & Landscape Maintenance Contract 133,083$ Visit Greater Palm Springs 86,309$ Housing Authority Rental Expenses 66,800$ Parks Maintenance/Services 68,097$ Contract IT Management 42,093$ Top Five Revenue/Income Sources for January Top Five Expenditures/Outlays for January (1)CIP Design: Maintenance and operations yard, Washington/Ave. 50 sidewalks, Hwy 111 corridor, Ave. 50 bridge, citywide irrigation. (1)Dedicated revenue from the Redevelopment Property Tax Trust Fund (RPTTF) for Successor Agency semi- annual debt service obligations. 18 Page 1 of 3 City Council Month Revenue Report Group Summary For Fiscal: 2025/26 Period Ending: 01/31/2026 Fiscal Activity Variance Favorable (Unfavorable) Period ActivityFun… Current Total Budget Original Total Budget Percent Used 101 - GENERAL FUND 31,153,641.359,348,392.3592,242,254.00 92,242,254.00 -61,088,612.65 33.77% 105 - DISASTER RECOVERY FUND -5,164.700.00172,000.00 172,000.00 -177,164.70 3.00% 201 - GAS TAX FUND 994,864.36161,676.523,217,705.00 3,217,705.00 -2,222,840.64 30.92% 202 - LIBRARY & MUSEUM FUND 226,731.18551.504,420,000.00 4,420,000.00 -4,193,268.82 5.13% 203 - PUBLIC SAFETY FUND (MEASURE G)-178.200.006,000.00 6,000.00 -6,178.20 2.97% 210 - FEDERAL ASSISTANCE FUND 138,248.030.00160,100.00 314,033.00 -175,784.97 44.02% 212 - SLESA (COPS) FUND 142,546.4916,666.66121,000.00 121,000.00 21,546.49 117.81% 215 - LIGHTING & LANDSCAPING FUND 558,812.41526,225.183,862,100.00 3,862,100.00 -3,303,287.59 14.47% 221 - AB 939 - CALRECYCLE FUND 22,076.367,698.3191,000.00 91,000.00 -68,923.64 24.26% 223 - MEASURE A FUND 750,615.61146,813.671,900,000.00 1,900,000.00 -1,149,384.39 39.51% 226 - EMERGENCY MANAGEMENT PERFORMANCE GRANT (EMPG)7,217.007,217.0010,000.00 10,000.00 -2,783.00 72.17% 227 - STATE HOMELAND SECURITY PROGRAMS (SHSP)0.000.005,400.00 5,400.00 -5,400.00 0.00% 230 - CASp FUND, AB 1379 10,541.451,724.0024,000.00 24,000.00 -13,458.55 43.92% 231 - SUCCESSOR AGCY PA 1 RORF 5,139,850.915,116,870.4520,333,000.00 20,333,000.00 -15,193,149.09 25.28% 235 - SO COAST AIR QUALITY FUND 13,070.330.0057,000.00 57,000.00 -43,929.67 22.93% 237 - SUCCESSOR AGCY PA 1 ADMIN -184.150.0012,320.00 12,320.00 -12,504.15 1.49% 241 - HOUSING AUTHORITY 717,082.8892,218.081,666,000.00 1,666,000.00 -948,917.12 43.04% 243 - RDA LOW-MOD HOUSING FUND -4,495.490.00130,000.00 130,000.00 -134,495.49 3.46% 247 - ECONOMIC DEVELOPMENT FUND 24,462.734,000.00109,000.00 109,000.00 -84,537.27 22.44% 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)48,664.690.0086,000.00 86,000.00 -37,335.31 56.59% 250 - TRANSPORTATION DIF FUND 299,821.1224,054.00579,000.00 579,000.00 -279,178.88 51.78% 251 - PARKS & REC DIF FUND 146,236.7512,636.00203,000.00 203,000.00 -56,763.25 72.04% 252 - CIVIC CENTER DIF FUND 85,933.677,380.00160,000.00 160,000.00 -74,066.33 53.71% 253 - LIBRARY DEVELOPMENT DIF 27,849.002,382.0030,500.00 30,500.00 -2,651.00 91.31% 254 - COMMUNITY & CULTURAL CENTERS DIF 66,260.575,736.0095,000.00 95,000.00 -28,739.43 69.75% 257 - FIRE PROTECTION DIF 25,688.972,214.0051,000.00 51,000.00 -25,311.03 50.37% 259 - MAINTENANCE FACILITIES DIF FUND 23,220.081,878.0047,000.00 47,000.00 -23,779.92 49.40% 270 - ART IN PUBLIC PLACES FUND 63,021.239,412.99181,000.00 181,000.00 -117,978.77 34.82% 299 - INTEREST ALLOCATION FUND 4,984,837.60377,358.300.00 0.00 4,984,837.60 0.00% 310 - LQ FINANCE AUTHORITY DEBT SERVICE 0.000.001,000.00 1,000.00 -1,000.00 0.00% 401 - CAPITAL IMPROVEMENT PROGRAMS 7,086,052.200.0024,293,033.00 93,976,127.98 -86,890,075.78 7.54% 501 - FACILITY & FLEET REPLACEMENT 818,920.321,195.891,745,500.00 1,745,500.00 -926,579.68 46.92% 502 - INFORMATION TECHNOLOGY 2,187,120.8716,791.074,195,000.00 4,195,000.00 -2,007,879.13 52.14% 503 - PARK EQUIP & FACILITY FUND 488,844.860.001,035,000.00 1,035,000.00 -546,155.14 47.23% 504 - INSURANCE FUND 688,360.680.001,395,941.00 1,395,941.00 -707,580.32 49.31% 601 - SILVERROCK RESORT 2,517,443.97766,121.215,470,000.00 5,470,000.00 -2,952,556.03 46.02% 760 - SUPPLEMENTAL PENSION PLAN -61.890.007,000.00 7,000.00 -7,061.89 0.88% 761 - CERBT OPEB TRUST 141,617.200.0040,000.00 40,000.00 101,617.20 354.04% 762 - PARS PENSION TRUST 387,300.4370,763.86200,000.00 200,000.00 187,300.43 193.65% Report Total:16,727,977.04 59,976,870.87168,353,853.00 238,190,880.98 -178,214,010.11 25.18% Accounts are subject to adjusting entries and audit. The City's Annual Comprehensive Financial Report, published annually, is the best resource for all final audited numbers. ATTACHMENT 1 19 Page 2 of 3 City Council Month Expense Report Group Summary For Fiscal: 2025/26 Period Ending: 01/31/2026 Fiscal Activity Variance Favorable (Unfavorable) Period ActivityFun… Current Total Budget Original Total Budget Percent Used 101 - GENERAL FUND 31,345,351.533,613,362.8692,822,188.00 124,767,095.58 93,421,744.05 25.12% 105 - DISASTER RECOVERY FUND 0.000.004,993,504.00 4,993,504.00 4,993,504.00 0.00% 201 - GAS TAX FUND 1,061,221.1098,576.653,224,885.00 5,369,867.76 4,308,646.66 19.76% 202 - LIBRARY & MUSEUM FUND 531,427.1034,763.493,149,391.00 5,112,850.74 4,581,423.64 10.39% 210 - FEDERAL ASSISTANCE FUND 138,248.030.00160,000.00 313,933.00 175,684.97 44.04% 212 - SLESA (COPS) FUND 0.000.00100,000.00 100,000.00 100,000.00 0.00% 215 - LIGHTING & LANDSCAPING FUND 1,934,997.04256,479.063,854,500.00 3,854,500.00 1,919,502.96 50.20% 221 - AB 939 - CALRECYCLE FUND 44,859.506,170.00205,000.00 205,000.00 160,140.50 21.88% 223 - MEASURE A FUND 672,682.841,025.961,124,132.00 4,834,347.80 4,161,664.96 13.91% 226 - EMERGENCY MANAGEMENT PERFORMANCE GRANT (EMPG)10,335.000.0010,000.00 10,000.00 -335.00 103.35% 227 - STATE HOMELAND SECURITY PROGRAMS (SHSP)0.000.005,000.00 5,000.00 5,000.00 0.00% 230 - CASp FUND, AB 1379 892.80438.405,500.00 5,500.00 4,607.20 16.23% 231 - SUCCESSOR AGCY PA 1 RORF 15,115,644.820.004,271,147.00 4,271,147.00 -10,844,497.82 353.90% 235 - SO COAST AIR QUALITY FUND 0.000.0040,000.00 40,000.00 40,000.00 0.00% 237 - SUCCESSOR AGCY PA 1 ADMIN 3,725.001,925.0011,000.00 11,000.00 7,275.00 33.86% 241 - HOUSING AUTHORITY 949,399.17120,579.901,709,533.00 1,709,533.00 760,133.83 55.54% 243 - RDA LOW-MOD HOUSING FUND 375,000.000.00325,000.00 325,800.00 -49,200.00 115.10% 247 - ECONOMIC DEVELOPMENT FUND 3,583.85153.0731,500.00 31,500.00 27,916.15 11.38% 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)0.000.00150,000.00 150,000.00 150,000.00 0.00% 250 - TRANSPORTATION DIF FUND 400,759.500.00979,109.00 3,377,883.19 2,977,123.69 11.86% 251 - PARKS & REC DIF FUND 0.000.000.00 648,950.00 648,950.00 0.00% 252 - CIVIC CENTER DIF FUND 0.000.000.00 249,925.00 249,925.00 0.00% 253 - LIBRARY DEVELOPMENT DIF 9,984.000.0015,000.00 15,000.00 5,016.00 66.56% 254 - COMMUNITY & CULTURAL CENTERS DIF 0.000.00482,561.00 792,914.42 792,914.42 0.00% 259 - MAINTENANCE FACILITIES DIF FUND 73,248.620.00362,526.00 362,526.00 289,277.38 20.21% 270 - ART IN PUBLIC PLACES FUND 52,163.530.00233,000.00 689,252.37 637,088.84 7.57% 310 - LQ FINANCE AUTHORITY DEBT SERVICE 0.000.001,000.00 1,000.00 1,000.00 0.00% 401 - CAPITAL IMPROVEMENT PROGRAMS 12,520,577.31319,338.2724,293,033.00 88,703,905.87 76,183,328.56 14.12% 501 - FACILITY & FLEET REPLACEMENT 467,202.5110,435.861,745,913.00 2,027,526.55 1,560,324.04 23.04% 502 - INFORMATION TECHNOLOGY 1,452,665.38108,377.444,195,820.00 4,195,820.00 2,743,154.62 34.62% 503 - PARK EQUIP & FACILITY FUND 518,297.921,189.80935,000.00 935,000.00 416,702.08 55.43% 504 - INSURANCE FUND 1,184,593.08313.441,242,600.00 1,242,600.00 58,006.92 95.33% 601 - SILVERROCK RESORT 2,910,367.76469,140.095,517,000.00 5,517,000.00 2,606,632.24 52.75% 760 - SUPPLEMENTAL PENSION PLAN 12,832.860.0012,850.00 12,850.00 17.14 99.87% 761 - CERBT OPEB TRUST 813.870.001,500.00 1,500.00 686.13 54.26% 762 - PARS PENSION TRUST 21,188.813,088.6730,000.00 30,000.00 8,811.19 70.63% Report Total:5,045,357.96 71,812,062.93156,239,192.00 264,914,232.28 193,102,169.35 27.11% Accounts are subject to adjusting entries and audit. The City's Annual Comprehensive Financial Report, published annually, is the best resource for all final audited numbers. 20 Fund #Name Notes 101 General Fund The primary fund of the City used to account for all revenue and expenditures of the City; a broad range of municipal activities are provided through this fund. 105 Disaster Recovery Fund Accounts for use of one-time federal funding designed to deliver relief to American workers and aid in the economic recovery iin the wake of COVID-19. The American Rescue Plan Act (ARPA) was passed by Congress in 2021 to provide fiscal recovery funds to state and local governments. 201 Gas Tax Fund Gasoline sales tax allocations received from the State which are restricted to street-related expenditures. 202 Library and Museum Fund Revenues from property taxes and related expenditures for library and museum services. 203 Public Safety Fund General Fund Measure G sales tax revenue set aside for public safety expenditures. 210 Federal Assistance Fund Community Development Block Grant (CDBG) received from the federal government and the expenditures of those resources. 212 SLESF (COPS) Fund Supplemental Law Enforcement Services Funds (SLESF) received from the State for law enforcement activities. Also known as Citizen's Option for Public Safety (COPS). 215 Lighting & Landscaping Fund Special assessments levied on real property for city-wide lighting and landscape maintenance/improvements and the expenditures of those resources. 220 Quimby Fund Developer fees received under the provisions of the Quimby Act for park development and improvements. 221 AB939 Fund/Cal Recycle Franchise fees collected from the city waste hauler that are used to reduce waste sent to landfills through recycling efforts. Assembly Bill (AB) 939.223 Measure A Fund County sales tax allocations which are restricted to street-related expenditures. 224 TUMF Fund Developer-paid Transportation Uniform Mitigation Fees (TUMF) utilized for traffic projects in Riverside County. 225 Infrastructure Fund Developer fees for the acquisition, construction or improvement of the City’s infrastructure as defined by Resolution 226 Emergency Mgmt. Performance Grant (EMPG)Federal Emergency Management Agency (FEMA) grant for emergency preparedness. 227 State Homeland Security Programs (SHSP)Federal Emergency Management Agency (FEMA) grant for emergency preparedness. 230 CASP Fund, AB1379 / SB1186 Certified Access Specialist (CASp) program fees for ADA Accessibility Improvements; derived from Business License renewals. Assembly Bill (AB) 1379 and Senate Bill (SB) 1186. 231 Successor Agency PA 1 RORF Fund Successor Agency (SA) Project Area (PA) 1 Redevelopment Obligation Retirement Fund (RORF) for Redevelopment Property Tax Trust Fund (RPTTF) taxes received for debt service payments on recognized obligations of the former Redevelopment Agency (RDA). 235 SO Coast Air Quality Fund (AB2766, PM10)Contributions from the South Coast Air Quality Management District. Uses are limited to the reduction and control of airborne pollutants. Assembly Bill (AB) 2766. 237 Successor Agency PA 1 Admin Fund Successor Agency (SA) Project Area (PA) 1 for administration of the Recognized Obligation Payment Schedule (ROPS) associated with the former Redevelopment Agency (RDA). 241 Housing Authority Activities of the Housing Authority which is to promote and provide quality affordable housing. 243 RDA Low-Moderate Housing Fund Activities of the Housing Authority which is to promote and provide quality affordable housing. Accounts for RDA loan repayments (20% for Housing) and housing programs,. 244 Housing Grants Activites related Local Early Action Planning (LEAP) and SB2 grants for housing planning and development. 247 Economic Development Fund Proceeds from sale of City-owned land and transfers from General Fund for future economic development. 249 SA 2011 Low/Mod Bond Fund Successor Agency (SA) low/moderate housing fund; 2011 bonds refinanced in 2016. 250 Transportation DIF Fund Developer impact fees collected for specific public improvements - transportation related. 251 Parks & Rec. DIF Fund Developer impact fees collected for specific public improvements - parks and recreation. 252 Civic Center DIF Fund Developer impact fees collected for specific public improvements - Civic Center. 253 Library Development DIF Fund Developer impact fees collected for specific public improvements - library. 254 Community Center DIF Fund Developer impact fees collected for specific public improvements - community center. 255 Street Facility DIF Fund Developer impact fees collected for specific public improvements - streets. 256 Park Facility DIF Fund Developer impact fees collected for specific public improvements - parks. 257 Fire Protection DIF Fund Developer impact fees collected for specific public improvements - fire protection. 259 Maintenance Facilities DIF Fund Developer impact fees collected for specific public improvements - maintenance facilities. 270 Art In Public Places Fund Developer fees collected in lieu of art placement; utilized for acquisition, installation and maintenance of public artworks. 275 LQ Public Safety Officer Fund Annual transfer in from General Fund; distributed to public safety officers disabled or killed in the line of duty. 299 Interest Allocation Fund Interest earned on investments. 310 LQ Finance Authority Debt Service Fund Accounted for the debt service the Financing Authority’s outstanding debt and any related reporting requirements. This bond was fully paid in October 2018. 401 Capital Improvement Program Fund Planning, design, and construction of various capital projects throughout the City. 405 SA PA 1 Capital Improvement Fund Successor Agency (SA) Project Area (PA) 1 bond proceeds restricted by the bond indenture covenants. Used for SilverRock infrastructure improvements. 501 Equipment Replacement Fund Internal Service Fund for vehicles, heavy equipment, and related facilities. 502 Information Technology Fund Internal Service Fund for computer hardware and software and phone systems. 503 Park Equipment & Facility Fund Internal Service Fund for park equipment and facilities. 504 Insurance Fund Internal Service Fund for city-wide insurance coverages. 601 SilverRock Resort Fund Enterprise Fund for activities of the city-owned golf course. 602 SilverRock Golf Reserve Fund Enterprise Fund for golf course reserves for capital improvements. 760 Supplemental Pension Plan (PARS Account)Supplemental pension savings plan for excess retiree benefits to general employees of the City. 761 Other Post Benefit Obligation Trust (OPEB)For retiree medical benefits and unfunded liabilities. 762 Pension Trust Benefit (PARS Account)For all pension-related benefits and unfunded liabilities. Fund Descriptions Page 3 of 3 21 22 City of La Quinta FINANCIAL ADVISORY COMMISSION SPECIAL MEETING: April 8, 2026 STAFF REPORT AGENDA TITLE: RECEIVE AND FILE FISCAL YEAR 2024/25 GENERAL FUND YEAR- END BUDGET REPORT RECOMMENDATION Receive and file Fiscal Year 2024/25 General Fund Year-End Budget Report. EXECUTIVE SUMMARY After closing the prior fiscal year, Finance presents a year-end summary that compares the final budget to actual transactions. Revenue was approximately $4.4 million higher than budgeted. Expenditures (including approved carryovers from 2023/24 into 2024/25) were $39.7 million under budget. Of these savings, approximately $32.6 million will be carried over to 2025/26 for General Fund capital improvements and operations, for a net savings of $7.1 million. In addition, $3.8 million of Measure G reserves was utilized for project expenditures. This report was presented to Council at the March 17, 2026 meeting. FISCAL IMPACT Amended budget carryovers from 2024/25 to 2025/26 total $34,619,342 for all Funds and are funded with budgetary savings from 2024/25. ESTIMATED REVISED General Fund (101) - Operating 1,050,000$ 850,000$ General Fund (101) - Capital Improvements 36,250,000$ 31,778,242$ Library and Museum Fund (202)-$ 75,000$ Lighting & Landscape Fund (215)500,000$ 500,000$ Housing Authority Fund (241)430,000$ 417,700$ RDA Low-Mod Housing Fund (243)49,200$ 48,400$ Facility and Fleet Replacement Fund (501)150,000$ 150,000$ Information Technology Fund (502)300,000$ 300,000$ Park Equipment & Facility Fund (503)500,000$ 500,000$ 39,229,200$ 34,619,342$ CARRYOVER TOTALS BY FUND TOTAL CARRYOVERS BY FUND BUSINESS SESSION ITEM NO. 1 23 BACKGROUND/ANALYSIS The Fiscal Year 2024/25 General Fund Year-End Budget Report (Report) focuses on the General Fund. Revenues were over budget by $4,403,986 due to tax revenues, intergovernmental-fire service credit, and interest earnings. Overall, all department expenditures were under budget with total savings of $39,710,310. Of these savings, $32,628,242 will be carried over to 2025/26 for multi-year capital projects and operations. Revenues, expenditures, carryovers, reserve balances, and a year-over-year comparison are discussed in the Report (Attachment 1). ALTERNATIVES The Commission may request additional information regarding the Report. Prepared by: Claudia Martinez, Finance Director/City Treasurer Approved by: Jon McMillen, City Manager Attachment: 1. Fiscal Year 2024/25 General Fund Year-End Budget Report 24 OVERVIEW The City oversees multiple sources of funds which are reported in the Annual Comprehensive Financial Report (ACFR) issued annually and presented at a public meeting shortly thereafter. This Fiscal Year 2024/25 Budget Report (Report) focuses on the General Fund and summarizes the overall financial activities of fiscal year (FY) 2024/25 and the City’s financial position through June 30, 2025. The chart below provides a summary comparison of the FY 2024/25 final budget versus actual revenues and expenses. The City concluded FY 2024/25 in a strong financial position, with total revenues exceeding projections by $4.4 million, reaching $122.3 million compared to the final budget of $117.9 million. Expenditures were managed efficiently, with total expenditures coming in $11.5 million below the final budget, totaling $97.5 million compared to the budgeted $109 million. As a result, the actual surplus after carryovers totaled $24.8 million, significantly exceeding the budgeted surplus of $8.9 million, representing a positive variance of $15.9 million. General Fund 2024/25 Final Budget 2024/25 Actuals Variance Operational Revenues 94,212,804 98,616,790 * 4,403,986 Capital/Operational Carryovers 22,566,520 22,566,520 - Use of Measure G Reserves - - - CIP Savings/Use of Reserves 1,095,000 1,095,000 - Total Revenues 117,874,324 122,278,310 4,403,986 Operational/CIP Expenses Multi-Year Capital Improvements 40,288,508 8,539,101 (31,749,407) Operational 68,130,080 60,169,177 (7,960,903) Expenses Before Carryovers 108,418,588 68,708,278 (39,710,310) Plus Carryovers to 2025/26 Multi-Year Capital Improvements 31,778,242 31,778,242 Operational 850,000 850,000 Adjusted Expenditures 108,418,588 101,336,520 (7,082,068) Plus Measure G Reserves 600,000 (3,861,782) (4,461,782) Total Expenditures 109,018,588 97,474,738 (11,543,850) Surplus/(Deficit) After Carryovers 8,855,736 24,803,572 15,947,836 *Reduced by non-cash transactions FISCAL YEAR 2024/25 GENERAL FUND YEAR-END BUDGET REPORT ATTACHMENT 1 25 This favorable fiscal outcome was driven by stronger-than-anticipated revenues and continued prudent expenditure management, reinforcing the City’s commitment to fiscal stability and responsible financial stewardship. Looking ahead, the City remains focused on maintaining sound financial management practices by closely monitoring economic conditions, prioritizing strategic investments, and ensuring adequate funding for essential infrastructure and capital improvement projects. REVENUE VARIANCES As detailed in Exhibit A and summarized on the chart below, most General Fund revenues experienced positive variances when compared to the final budget. Taxes represent 66% of all General Fund revenues and include the three largest funding sources for the City – sales taxes $27,874,446, transient occupancy taxes (TOT) $15,949,842, and property taxes $13,694,081. Combined, these top three revenues account for $57,518,369 or 86% of all taxes. Intergovernmental Revenue increased above original budget projections due to higher- than-estimated Fire Service credits received from Riverside County and additional reimbursements related to expenses incurred during the August 2023 Tropical Storm Hilary emergency response. Use of Money and Property includes the annual fair market value adjustment to the City’s investment portfolio. As of June 30, 2025, the portfolio’s market value increased compared to June 30, 2024 due to market conditions, resulting in a positive adjustment of $2,694,670. The City maintains a five-year investment horizon with laddered maturities to manage interest rate risk and maintain liquidity. Despite ongoing market volatility, staff continues to strategically manage the portfolio within the parameters of the City’s General Fund Revenues 2024/25 Final Budget 2024/25 Actuals Variance % Variance Tax Revenue 65,825,000 66,866,127 1,041,127 2% Licenses & Permits 2,551,500 2,682,345 130,845 5% Intergovernmental 11,573,000 13,971,627 2,398,627 21% Charges for Services 1,238,700 1,407,901 169,201 14% Fines, Forfeitures & Abatements 416,000 389,446 (26,554) -6% Use of Money & Property 6,590,000 9,664,543 3,074,543 47% Miscellaneous/Transfers In 6,018,604 6,386,144 367,540 6% Total Revenues 94,212,804 101,368,134 7,155,330 8% Non-Cash Adjustments Investments Fair Market Value Adjustment (2,694,670) (2,694,670) RDA Loan Interest Earned, Extraordinary Gain (56,674) (56,674) (2,751,344) (2,751,344) Total Adjusted Revenues 94,212,804 98,616,790 4,403,986 26 Investment Policy. The portfolio’s rate of return increased from 3.52% as of June 30, 2024 to 3.76% as of June 30, 2025. Miscellaneous and Transfers In revenue includes $56,674 to record interest earned in FY 2024/25 related to the former Redevelopment Agency loan repayment. Under the State Department of Finance approved repayment schedule, loan payments are applied to principal first and then to interest. Accordingly, the City records the interest earned each year based on the repayment schedule; however, because the interest will be received in a future period, the amount is recorded and then offset as a revenue adjustment. EXPENSE VARIANCES General Fund expenses are summarized in the chart below by department, and details by department and expense category are in Exhibit B. Most departmental expenditures remained within budget. Savings were achieved from vacant positions, workflow efficiencies, and prudent management of contracts and professional services. General Fund Expenditures 2024/25 Final Budget 2024/25 Actuals Variance Carryovers to 2025/26 City Council 346,400 320,906 (25,494) - City Manager's Division 1,735,600 1,468,247 (267,353) - City Attorney 800,000 1,519,880 719,880 - Human Resources 858,600 733,231 (125,369) - City Clerk Department 1,412,570 1,181,635 (230,935) - Finance 2,113,700 2,133,785 20,085 - Centralized Services 46,877,252 13,864,403 (33,012,849) 32,228,242 Police 19,795,800 17,369,902 (2,425,898) - Fire 11,010,230 9,650,654 (1,359,576) 400,000 Community Services Admin. 616,800 452,842 (163,958) - Wellness Center Operations 680,300 638,353 (41,947) - Recreational Programs & Events 2,069,500 1,549,694 (519,806) - Parks Maintenance 5,598,500 5,448,040 (150,460) - Marketing & Community Relations 1,986,500 1,825,063 (161,437) - Public Buildings 1,885,400 1,710,962 (174,438) - Design & Development Admin. 822,150 730,530 (91,620) - Planning 894,700 772,677 (122,023) - Building 1,524,800 1,467,698 (57,102) - Code Compliance/Animal Control 1,801,240 1,494,701 (306,539) - Public Safety Administration 269,440 320,427 50,987 - The Hub 1,509,175 1,338,452 (170,723) - Public Works Administration 839,897 615,280 (224,617) - Public Works Development Svcs. 542,883 410,961 (131,922) - Streets 1,189,650 786,450 (403,200) - Engineering Services 1,237,500 903,505 (333,995) - Total Operating/CIP Expenditures 108,418,588 68,708,278 (39,710,307) 32,628,242 Estimated Actual Variance Carryovers to 2025/26 Capital Improvements - 31,778,242 31,778,242 Operational - 850,000 850,000 Total Carryovers - 32,628,242 32,628,242 Adjusted Expenditures before Reserves 108,418,588 101,336,521 (7,082,065) Plus Measure G Reserves 600,000 (3,861,782) (4,461,782) Total Adjusted Expenses 109,018,588 97,474,739 (11,543,847) 27 The following summarizes the most significant variances between the FY 2024/25 Final Budget and actual expenditures. Centralized Services (CS) represents the largest budget variance at approximately $33 million. This department captures citywide costs such as pension liabilities, retiree medical benefits, and transfers to other funds, including the Gas Tax Fund for street improvements, Lighting and Landscape Fund, SilverRock Golf Course Fund, Public Safety Fund, Economic Development Fund, and the Capital Improvement Project Fund. This department also includes the largest carryover to FY 2025/26, totaling $31,778,242, to support multi-year capital improvement projects as detailed in Exhibit C. The carryover primarily reflects projects currently in progress, including Fritz Burns Park improvements and the Highway 111 Rehabilitation Project. Of the total carryover, $21,264,489 (67%) is funded through Measure G sales tax revenue. Public Safety Services: To ensure sufficient funding for essential services such as Police and Fire, the City budgets contract costs based on the rates initially provided by Riverside County, which may reflect full compensation assumptions. In FY 2024/25, savings were realized due to operational efficiencies and actual salary and benefit costs coming in below projections. Police Services: Savings of $2,425,898 were realized due to lower-than-projected contract service costs. Fire Services: Savings of $1,359,576 were realized, including $400,000 allocated for the purchase of a fire ladder truck, which will be carried over to FY 2025/26. The remaining savings resulted from higher-than-projected tax revenues and actual contract service costs, salaries, and benefits coming in below County projections. These savings reflect prudent financial management while maintaining funding for critical public safety services. Recreational Programs & Events: Expenditures were $519,806 below budget, primarily due to lower-than-anticipated costs associated with recreational programming such as the Fritz Burns Pool, special events, and contracted services. Actual event expenditures and operational costs came in below budgeted estimates during the fiscal year. Streets Department: Streets expenditures were $403,200 below budget, primarily due to the timing of street maintenance and operational activities that will continue into the following fiscal year. Overall, these variances reflect prudent financial management, conservative budgeting practices for critical services, and the multi-year nature of capital improvement project implementation. 28 Capital Improvement Program (CIP) carryovers, detailed in Exhibit C total $31,778,242 and operational carryovers total $850,000, detailed in Exhibit D, from FY 2024/25 to FY 2025/26. Carryovers allow for operational flexibility and reflect City commitments to projects, services, or purchases that were made in 2024/25 but were not completed, fulfilled, or invoiced by the end of the FY. Funds not being carried over are recognized as Unassigned Reserve Fund balance in the General Fund. CIP revenue commitments are reflected in assigned reserves and operational carryovers are noted in committed reserves. RESERVES The chart below depicts reserve balances by category and the value change from June 30, 2024 to June 30, 2025. These reserve balances reflect the financial health of the City at fiscal year-end. Non-Spendable fund balance increased by $2,983,438 from the prior year. The change reflects a decrease in prepaid costs of $133,707, partially offset by the recognition of $5,865,124 in notes and loans receivable for the SilverRock Debtor in Possession (DIP) financing advanced by the City. In addition, Due from Other Governments decreased by $2,747,979 as a result of the FY 2024/25 Redevelopment Agency loan repayment of $2,804,653 in principal and $56,674 in interest. The Due from Other Governments balance of $14,375,798 represents the outstanding amount owed to the General Fund, consisting of $2,178,328 in principal and $12,197,470 in interest, which reflects 80% of the total loan repayments in accordance with the approved repayment schedule. Reserve/Fund Balance As of June 30, 2024 As of June 30, 2025 Change in Value Non-Spendable Prepaid Costs 170,577 36,870 (133,707) Land Held for Resale 5,403,652 5,403,652 - Notes and loans receivable - 5,865,124 5,865,124 Due from Other Governments 17,123,777 14,375,798 (2,747,979) Total Non-Spendable 22,698,006 25,681,444 2,983,438 Restricted Pension Trust 5,666,575 6,172,305 505,730 Committed Cash Flow Reserve 5,000,000 5,000,000 - Natural Disaster Reserve 15,000,000 15,000,000 - Economic Disaster 13,000,000 13,000,000 - Capital Replacement Reserve 12,000,000 12,000,000 - Total Committed 45,000,000 45,000,000 - Assigned Public Safety Fire Services 15,652,616 19,391,133 3,738,517 Measure G Sales Tax 32,985,374 29,623,592 (3,361,782) Capital Projects 21,666,520 31,778,242 10,111,722 Operational Carryovers 900,000 850,000 (50,000) Total Assigned 71,204,510 81,642,967 10,438,457 Unassigned 65,216,627 84,454,583 19,237,956 TOTAL FUND BALANCE 209,785,718 242,951,299 33,165,581 29 Non-spendable fund balances represent assets that are not available to fund ongoing operations, and therefore are not considered available resources for appropriation. Restricted reserves are limited to funds held in a Section 115 Pension Trust set aside to fund the City’s pension obligations. The trust balance resulted in an increase in total value to of $505,730 due to investment gains. Committed reserves remained unchanged at $45 million, reflecting full funding of the City’s four reserve categories in accordance with the adopted Reserve Policy. These reserves include Cash Flow ($5 million), Natural Disaster ($15 million), Economic Disaster ($13 million), and Capital Replacement ($12 million). All categories remain fully funded at the policy target levels. Assigned reserves increased by $10.4 million, primarily due to additional funding allocated for multi-year capital improvement projects. This increase was partially offset by a decrease in Measure G sales tax reserves, as funding was applied to support project expenditures. In addition, the Public Safety Fire Services reserve increased by $3.7 million, primarily due to higher Redevelopment Property Tax Trust Fund (RPTTF) distributions and increased property tax revenues resulting from higher assessed property valuations. Operational carryovers totaling $850,000 were also reclassified into the Assigned reserve category. Overall, the City’s reserve balances remain strong and in alignment with the adopted Reserve Policy. Changes during the fiscal year primarily reflect the timing of capital improvement project funding, continued investment in long-term infrastructure needs, and favorable revenue performance supporting public safety services. These reserves provide financial stability and ensure the City is well-positioned to address future economic conditions, emergencies, and capital priorities while maintaining essential services for the community. 30 MEASURE G SUMMARY The Financial Advisory Commission oversees and audits the use of Measure G sales tax revenues and prepares the annual Measure G Sales Tax Oversight Report. The summary below provides a preview of the revenues and expenditures to date. The Measure G reserve balance ended the FY at $29,623,592. The FY 2024/25 Year-End Budget Report presents the City Council and residents with a comprehensive overview of key financial variances, reinforcing the City’s commitment to fiscal responsibility and transparency. Questions regarding this report may be directed to the Finance Department by calling 760-777-7055 or by email at finance@laquintaca.gov. 31 2023/24 Actuals 2024/25 Original Budget 2024/25 Final Budget 2024/25 Actuals 101 - GENERAL FUND 310 - Tax Revenues 3,517,075 3,400,000 3,850,000 3,697,231101-0000-40310 Property Tax Revenue 5,867,985 5,300,000 6,380,000 6,306,684101-0000-40311 No-Low City Property Tax 3,296,679 3,050,000 3,800,000 3,690,166101-0000-40315 RPTTF Pass Through 12,170,477 12,000,000 12,000,000 12,236,228101-0000-41320 State Sales Tax 15,471,183 15,500,000 15,500,000 15,638,218101-0000-41326 Measure G Sales Tax 919,762 720,000 720,000 970,653101-0000-41327 Document Transfer Tax 9,280,952 9,370,000 9,370,000 9,482,823101-0000-41400 TOT - Hotels 5,921,487 5,500,000 5,775,000 6,014,109101-0000-41401 TOT - Short Term Vac. Rentals 107,075 100,000 100,000 108,460101-0000-41402 TOT - Bed and Breakfast 373,321 370,000 370,000 344,450101-0000-41416 TOT - Resort Fees 1,326,900 1,130,000 1,130,000 1,423,957101-0000-41505 Franchise Taxes - Burrtec 304,192 190,000 190,000 200,106101-0000-41508 Southern California Gas Franchise Fee 639,750 620,000 620,000 594,597101-0000-41509 Cable Television Franchise Fee 149,045 170,000 170,000 111,976101-0000-41510 Communications Franchise Fees 5,584,194 5,850,000 5,850,000 6,046,467101-0000-41800 Property Tax in Lieu of VLF 310 - Tax Revenues Totals:64,930,079 63,270,000 65,825,000 66,866,127 320 - Licenses & Permits 1,625 2,000 2,000 650101-0000-41411 STVR Inspection Fee 933,250 900,000 900,000 907,703101-0000-41415 STVR Registration Fee 344,147 355,000 355,000 391,328101-0000-41600 Business Licenses 51,446 60,000 60,000 51,315101-0000-41602 STVR Business Licenses 1,410 1,500 1,500 1,342101-0000-41610 Film Permits 502,000 335,000 420,000 437,336101-0000-42400 Building Permits 106,736 50,000 50,000 67,769101-0000-42401 Plumbing Permits 90,966 65,000 65,000 78,753101-0000-42402 Mechanical Permits 80,147 50,000 50,000 67,981101-0000-42403 Electrical Permits 234,912 160,000 160,000 190,347101-0000-42404 Miscellaneous Permits 5,520 5,000 5,000 6,060101-0000-42405 Garage Sale Permits 8,809 10,000 10,000 6,293101-0000-42408 Grading Permits 119,285 85,000 85,000 116,374101-0000-42420 Fire Plan Review Fee 53,776 100,000 100,000 20,573101-0000-42421 Fire Inspection Fee - New Construction 1,220 1,000 1,000 1,444101-0000-42430 Transportation Permits 20,061 10,000 10,000 22,920101-0000-42431 Conditional Use Permits 0 1,000 1,000 0101-0000-42433 Minor Use Permit 20,786 12,000 12,000 29,871101-0000-42434 Sign Permit 84,883 55,000 55,000 70,981101-0000-42435 Site Development Permit 11,270 10,000 10,000 21,178101-0000-42436 Final Landscaping Plans 9,049 6,000 6,000 9,069101-0000-42437 Development Agreement 7,490 3,000 3,000 16,721101-0000-42439 Temporary Use Permit 123,763 100,000 180,000 157,140101-0000-43632 Public Works Permits 8,062 10,000 10,000 9,197101-0000-43638 NPDES Inspections 320 - Licenses & Permits Totals:2,820,613 2,386,500 2,551,500 2,682,345 330 - Intergovernmental 0 0 0 5,707101-0000-41710 State Gov't Revenue 11,964,881 11,000,000 11,000,000 13,056,502101-0000-42500 Fire Service Credit 0 0 0 339,183101-0000-43100 FEMA 520,573 250,000 570,000 567,236101-0000-43633 CSA 152 Assessments 3,000 3,000 3,000 3,000101-0000-43650 Contributions from Other Agencies 330 - Intergovernmental Totals:12,488,454 11,253,000 11,573,000 13,971,627 340 - Charges for Services 25,280 11,000 11,000 8,704101-0000-42200 Leisure Enrichment 38,980 40,000 40,000 51,135101-0000-42210 Youth Sports 4,850 5,000 5,000 4,549101-0000-42211 Adult Sports 14,401 10,000 10,000 28,379101-0000-42212 Facility Rentals 350 5,000 5,000 510101-0000-42213 Special Events 30,784 15,000 15,000 49,082101-0000-42214 Wellness Center Leisure Enrichment 0 0 0 4,840101-0000-42215 Parking Lot/Open Space Use Fee 648 1,000 1,000 752101-0000-42216 Wellness Center Special Events 113,575 80,000 80,000 121,098101-0000-42218 Wellness Center Memberships 3,517,075 3,400,000 3,850,000 3,697,231 5,867,985 5,300,000 6,380,000 6,306,684 3,296,679 3,050,000 3,800,000 3,690,166 12,170,477 12,000,000 12,000,000 12,236,228 15,471,183 15,500,000 15,500,000 15,638,218 919,762 720,000 720,000 970,653 9,280,952 9,370,000 9,370,000 9,482,823 5,921,487 5,500,000 5,775,000 6,014,109 107,075 100,000 100,000 108,460 373,321 370,000 370,000 344,450 1,326,900 1,130,000 1,130,000 1,423,957 304,192 190,000 190,000 200,106 639,750 620,000 620,000 594,597 149,045 170,000 170,000 111,976 5,584,194 5,850,000 5,850,000 6,046,467 64,930,079 63,270,000 65,825,000 66,866,127 1,625 2,000 2,000 650 933,250 900,000 900,000 907,703 344,147 355,000 355,000 391,328 51,446 60,000 60,000 51,315 1,410 1,500 1,500 1,342 502,000 335,000 420,000 437,336 106,736 50,000 50,000 67,769 90,966 65,000 65,000 78,753 80,147 50,000 50,000 67,981 234,912 160,000 160,000 190,347 5,520 5,000 5,000 6,060 8,809 10,000 10,000 6,293 119,285 85,000 85,000 116,374 53,776 100,000 100,000 20,573 1,220 1,000 1,000 1,444 20,061 10,000 10,000 22,920 0 1,000 1,000 0 20,786 12,000 12,000 29,871 84,883 55,000 55,000 70,981 11,270 10,000 10,000 21,178 9,049 6,000 6,000 9,069 7,490 3,000 3,000 16,721 123,763 100,000 180,000 157,140 8,062 10,000 10,000 9,197 2,820,613 2,386,500 2,551,500 2,682,345 0 0 0 5,707 11,964,881 11,000,000 11,000,000 13,056,502 0 0 0 339,183 520,573 250,000 570,000 567,236 3,000 3,000 3,000 3,000 12,488,454 11,253,000 11,573,000 13,971,627 25,280 11,000 11,000 8,704 38,980 40,000 40,000 51,135 4,850 5,000 5,000 4,549 14,401 10,000 10,000 28,379 350 5,000 5,000 510 30,784 15,000 15,000 49,082 0 0 0 4,840 648 1,000 1,000 752 113,575 80,000 80,000 121,098 CITY OF LA QUINTA GENERAL FUND REVENUE DETAILS BY CATEGORY EXHIBIT A FY 2024/25 YEAR-END BUDGET 32 2023/24 Actuals 2024/25 Original Budget 2024/25 Final Budget 2024/25 Actuals 1,009 0 0 462101-0000-42300 Cash Over/Short 135 100 100 75101-0000-42303 NSF Charges 46,756 10,000 10,000 25,150101-0000-42412 Minor Adjustment, Plan Checks 23,788 20,000 40,000 47,335101-0000-42415 Tentative Tract Map 43,465 20,000 20,000 43,217101-0000-42416 Digitization/Records Management 3,686 2,500 2,500 2,806101-0000-42417 Modification by Applicant 2,000 1,000 1,000 3,066101-0000-42440 Appeals - Permits, Licenses, Projects, Bids 922 500 500 48101-0000-42441 Planning Compliance Review 13,851 11,000 11,000 15,788101-0000-42443 Zone Change 3,158 5,000 5,000 183101-0000-42445 Environmental Assessment 11,899 12,000 12,000 5,998101-0000-42446 General Plan Amendment 7,985 7,000 7,000 6,189101-0000-42447 Home Occupations 11,221 11,000 11,000 0101-0000-42448 Tentative Parcel Map 12,736 12,000 12,000 19,817101-0000-42451 Specific Plan 3,000 0 0 0101-0000-42456 Lot Exemption Fee 22,955 8,000 8,000 0101-0000-42460 Pre-Application Review 654,406 550,000 650,000 676,464101-0000-42600 Building Plan Check Fees 602 500 500 480101-0000-42610 SMIP Fees 484 600 600 547101-0000-42615 CBSC Administrative Fees 370,662 160,000 250,000 260,066101-0000-42810 Public Works Dev. Plan Check Fee 1,418 2,500 2,500 1,160101-0000-43631 CVMSHCP Admin Fee 29,416 28,000 28,000 29,999101-0000-43635 VGPS TBID Admin Fee 340 - Charges for Services Totals:1,494,422 1,028,700 1,238,700 1,407,901 350 - Fines, Forfeitures & Abatements 167,138 120,000 120,000 103,103101-0000-42700 Administrative Citations 7,628 5,500 5,500 4,162101-0000-42701 Lot Abatement 49,689 35,000 35,000 11,615101-0000-42702 Vehicle Abatement 52,059 65,000 65,000 64,049101-0000-42703 Vehicle Impound Fee 49,366 60,000 60,000 53,487101-0000-42705 Motor Vehicle Code Fines 12,861 15,000 15,000 17,480101-0000-42706 Parking Violations 704 1,500 1,500 471101-0000-42707 Misc Fines 8,165 9,000 9,000 8,451101-0000-42708 Graffiti Removal 46,053 25,000 50,000 74,486101-0000-42709 False Alarm Fees - Police 14,462 5,000 55,000 52,143101-0000-42710 False Alarm Fees - Fire 350 - Fines, Forfeitures & Abatements Totals:408,126 341,000 416,000 389,446 360 - Use of Money & Property 5,467,129 3,500,000 6,400,000 6,768,481101-0000-41900 Allocated Interest 1,689,908 0 0 2,694,670101-0000-41910 GASB 31 Interest 42,397 40,000 40,000 55,425101-0000-41930 Interest Revenue 134,402 150,000 150,000 139,997101-0000-42120 Lease Revenue 0 0 0 5,970101-0000-42302 Electric Vehicle Charging Station Fees 360 - Use of Money & Property Totals:7,333,835 3,690,000 6,590,000 9,664,543 370 - Miscellaneous 416,492 450,000 450,000 742,682101-0000-41410 Zoning Change Mitigation Fees 182,784 50,000 50,000 42,370101-0000-41504 AMR Compliance 135,146 125,000 125,000 139,079101-0000-41507 Burrtec Admin Cost Reimbursement 1,000 0 0 1,500101-0000-41920 Memorial Tree Revenue 912 5,000 5,000 3,142101-0000-42000 Insurance Recoveries 0 100 100 30101-0000-42140 Sales of Publications & Materials 54,882 25,000 275,000 274,250101-0000-42301 Miscellaneous Revenue 207,685 50,000 80,000 83,553101-0000-42305 Miscellaneous Reimbursements 72,468 40,000 40,000 49,359101-0000-43505 Credit Card Fee Revenue 2,227 0 0 0101-0000-45000 Sale of Other Assets 272,644 0 0 56,674101-0000-48500 Extraordinary Gain 370 - Miscellaneous Totals:1,346,240 745,100 1,025,100 1,392,640 1,009 0 0 462 135 100 100 75 46,756 10,000 10,000 25,150 23,788 20,000 40,000 47,335 43,465 20,000 20,000 43,217 3,686 2,500 2,500 2,806 2,000 1,000 1,000 3,066 922 500 500 48 13,851 11,000 11,000 15,788 3,158 5,000 5,000 183 11,899 12,000 12,000 5,998 7,985 7,000 7,000 6,189 11,221 11,000 11,000 0 12,736 12,000 12,000 19,817 3,000 0 0 0 22,955 8,000 8,000 0 654,406 550,000 650,000 676,464 602 500 500 480 484 600 600 547 370,662 160,000 250,000 260,066 1,418 2,500 2,500 1,160 29,416 28,000 28,000 29,999 1,494,422 1,028,700 1,238,700 1,407,901 167,138 120,000 120,000 103,103 7,628 5,500 5,500 4,162 49,689 35,000 35,000 11,615 52,059 65,000 65,000 64,049 49,366 60,000 60,000 53,487 12,861 15,000 15,000 17,480 704 1,500 1,500 471 8,165 9,000 9,000 8,451 46,053 25,000 50,000 74,486 14,462 5,000 55,000 52,143 408,126 341,000 416,000 389,446 5,467,129 3,500,000 6,400,000 6,768,481 1,689,908 0 0 2,694,670 42,397 40,000 40,000 55,425 134,402 150,000 150,000 139,997 0 0 0 5,970 7,333,835 3,690,000 6,590,000 9,664,543 416,492 450,000 450,000 742,682 182,784 50,000 50,000 42,370 135,146 125,000 125,000 139,079 1,000 0 0 1,500 912 5,000 5,000 3,142 0 100 100 30 54,882 25,000 275,000 274,250 207,685 50,000 80,000 83,553 72,468 40,000 40,000 49,359 2,227 0 0 0 272,644 0 0 56,674 1,346,240 745,100 1,025,100 1,392,640 CITY OF LA QUINTA GENERAL FUND REVENUE DETAILS BY CATEGORY EXHIBIT A FY 2024/25 YEAR-END BUDGET 33 2023/24 Actuals 2024/25 Original Budget 2024/25 Final Budget 2024/25 Actuals 380 - Transfers In 0 0 4,993,504 4,993,504101-0000-49500 Transfers In 380 - Transfers In Totals:0 0 4,993,504 4,993,504 101 - GENERAL FUND Totals:90,821,769 82,714,300 94,212,804 101,368,134 0 0 4,993,504 4,993,504 0 0 4,993,504 4,993,504 90,821,769 82,714,300 94,212,804 101,368,134 CITY OF LA QUINTA GENERAL FUND REVENUE DETAILS BY CATEGORY EXHIBIT A FY 2024/25 YEAR-END BUDGET Non-Cash Transactions Adjusted Operating Revenues (1,962,552) 88,859,217 (2,751,344) 98,616,790 34 2023/24 Actuals 2024/25 Original Budget 2024/25 Final Budget 2024/25 Actuals 1001 - City Council 318,006 346,400 346,400 320,906 Salaries and Benefits 271,614 295,900 295,900 279,025 Maintenance & Operations 46,392 50,500 50,500 41,881 1002 - City Manager 1,118,332 1,641,100 1,735,600 1,468,247 Salaries and Benefits 736,079 903,400 980,700 1,020,551 Contract Services 108,157 170,000 169,700 112,347 Maintenance & Operations 113,005 118,500 118,800 118,549 Other Expenses 11,890 300,000 300,000 50,400 Internal Service Charges 149,200 149,200 166,400 166,400 1003 - City Attorney 664,255 800,000 800,000 1,519,880 Contract Services 664,255 800,000 800,000 1,519,880 1004 - Human Resources 498,619 745,900 858,600 733,231 Salaries and Benefits 280,210 459,800 458,700 447,514 Contract Services 79,857 79,500 190,200 137,546 Maintenance & Operations 51,952 120,000 120,000 58,471 Internal Service Charges 86,600 86,600 89,700 89,700 1005 - City Clerk 1,033,021 1,406,570 1,412,570 1,181,635 Salaries and Benefits 711,986 804,670 804,670 722,391 Contract Services 126,996 390,000 390,000 259,340 Maintenance & Operations 23,640 41,500 41,500 23,504 Internal Service Charges 170,400 170,400 176,400 176,400 1006 - Finance 1,783,589 2,103,500 2,113,700 2,133,785 Salaries and Benefits 1,292,675 1,494,500 1,494,500 1,347,035 Contract Services 177,881 281,500 281,500 207,823 Maintenance & Operations 27,233 41,700 41,700 22,954 Other Expenses 0 0 0 259,973 Internal Service Charges 285,800 285,800 296,000 296,000 1007 - Central Services 17,940,877 23,935,600 46,877,252 13,864,403 Salaries and Benefits 1,195,793 1,410,000 5,172,100 4,385,891 Maintenance & Operations 98,060 155,700 505,700 48,466 Capital Expenses 2,880 20,000 20,000 0 Internal Service Charges 875,900 875,900 890,945 890,945 Transfers Out 15,768,244 21,474,000 40,288,508 8,539,101 2001 - Police 16,251,852 19,643,300 19,795,800 17,369,902 Contract Services 15,922,569 19,459,000 19,462,000 17,060,670 Maintenance & Operations 6,625 15,000 12,000 9,129 Repair & Maintenance 171,834 40,000 190,000 180,589 Utilities 17,089 26,000 26,000 17,119 Capital Expenses 65,435 35,000 35,000 31,595 Internal Service Charges 68,300 68,300 70,800 70,800 2002 - Fire 9,021,870 10,572,110 11,010,230 9,650,654 Salaries and Benefits 156,023 262,510 279,910 263,793 Contract Services 8,511,221 9,643,000 9,647,000 9,008,441 Maintenance & Operations 81,436 233,000 229,000 82,805 Other Expenses 1,347 0 0 0 Utilities 90,423 139,000 139,000 80,633 Capital Expenses 21,820 135,000 535,000 34,662 Internal Service Charges 159,600 159,600 180,320 180,320 3001 - Community Services Administration 979,036 716,400 616,800 452,842 Salaries and Benefits 433,685 298,800 284,600 185,864 Contract Services 72,122 92,000 92,000 71,900 Maintenance & Operations 351,929 204,300 204,300 159,178 Internal Service Charges 121,300 121,300 35,900 35,900 3002 - Wellness Center Operations 863,041 683,600 680,300 638,353 Salaries and Benefits 546,845 439,500 461,800 476,633 318,006 346,400 346,400 320,906 271,614 295,900 295,900 279,025 46,392 50,500 50,500 41,881 1,118,332 1,641,100 1,735,600 1,468,247 736,079 903,400 980,700 1,020,551 108,157 170,000 169,700 112,347 113,005 118,500 118,800 118,549 11,890 300,000 300,000 50,400 149,200 149,200 166,400 166,400 664,255 800,000 800,000 1,519,880 664,255 800,000 800,000 1,519,880 498,619 745,900 858,600 733,231 280,210 459,800 458,700 447,514 79,857 79,500 190,200 137,546 51,952 120,000 120,000 58,471 86,600 86,600 89,700 89,700 1,033,021 1,406,570 1,412,570 1,181,635 711,986 804,670 804,670 722,391 126,996 390,000 390,000 259,340 23,640 41,500 41,500 23,504 170,400 170,400 176,400 176,400 1,783,589 2,103,500 2,113,700 2,133,785 1,292,675 1,494,500 1,494,500 1,347,035 177,881 281,500 281,500 207,823 27,233 41,700 41,700 22,954 0 0 0 259,973 285,800 285,800 296,000 296,000 17,940,877 23,935,600 46,877,252 13,864,403 1,195,793 1,410,000 5,172,100 4,385,891 98,060 155,700 505,700 48,466 2,880 20,000 20,000 0 875,900 875,900 890,945 890,945 15,768,244 21,474,000 40,288,508 8,539,101 16,251,852 19,643,300 19,795,800 17,369,902 15,922,569 19,459,000 19,462,000 17,060,670 6,625 15,000 12,000 9,129 171,834 40,000 190,000 180,589 17,089 26,000 26,000 17,119 65,435 35,000 35,000 31,595 68,300 68,300 70,800 70,800 9,021,870 10,572,110 11,010,230 9,650,654 156,023 262,510 279,910 263,793 8,511,221 9,643,000 9,647,000 9,008,441 81,436 233,000 229,000 82,805 1,347 0 0 0 90,423 139,000 139,000 80,633 21,820 135,000 535,000 34,662 159,600 159,600 180,320 180,320 979,036 716,400 616,800 452,842 433,685 298,800 284,600 185,864 72,122 92,000 92,000 71,900 351,929 204,300 204,300 159,178 121,300 121,300 35,900 35,900 863,041 683,600 680,300 638,353 546,845 439,500 461,800 476,633 CITY OF LA QUINTA GENERAL FUND EXPENSE SUMMARY BY DEPARTMENT EXHIBIT B FY 2024/25 YEAR-END BUDGET REPORT 35 2023/24 Actuals 2024/25 Original Budget 2024/25 Final Budget 2024/25 Actuals Contract Services 41,798 36,000 46,000 41,238 Maintenance & Operations 36,267 65,400 55,400 28,382 Capital Expenses 120,432 25,000 25,000 0 Internal Service Charges 117,700 117,700 92,100 92,100 3003 - Recreation Programs & Special Events 1,233,529 1,956,000 2,069,500 1,549,694 Salaries and Benefits 274,114 598,600 590,700 439,430 Contract Services 541,334 665,000 665,000 576,745 Maintenance & Operations 369,681 644,000 644,000 363,719 Internal Service Charges 48,400 48,400 169,800 169,800 3005 - Parks Maintenance 4,113,554 4,538,300 5,598,500 5,448,040 Salaries and Benefits 466,872 485,050 485,050 491,711 Contract Services 808,214 1,089,000 1,089,000 1,121,783 Maintenance & Operations 1,053,590 1,165,300 1,165,300 1,026,247 Utilities 528,379 542,450 542,450 491,599 Internal Service Charges 1,256,500 1,256,500 2,316,700 2,316,700 3007 - Marketing & Community Relations 1,850,681 1,932,600 1,986,500 1,825,063 Salaries and Benefits 268,528 301,300 305,100 311,655 Contract Services 519,914 495,000 506,500 450,407 Maintenance & Operations 1,027,539 1,101,600 1,115,100 1,003,201 Internal Service Charges 34,700 34,700 59,800 59,800 3008 - Public Buildings 1,670,209 1,875,750 1,885,400 1,710,962 Salaries and Benefits 624,006 726,050 726,050 691,717 Contract Services 222,069 279,500 279,500 224,435 Maintenance & Operations 224,060 365,700 280,000 198,781 Utilities 298,573 203,000 288,700 284,879 Internal Service Charges 301,500 301,500 311,150 311,150 6001 - Design & Development Administration 709,446 826,800 822,150 730,530 Salaries and Benefits 366,628 472,400 490,350 467,197 Contract Services 150,354 160,000 160,000 98,082 Maintenance & Operations 8,764 10,700 10,700 4,151 Internal Service Charges 183,700 183,700 161,100 161,100 6002 - Planning 560,046 856,900 894,700 772,677 Salaries and Benefits 405,712 590,200 595,000 598,107 Contract Services 49,563 150,000 150,000 35,052 Maintenance & Operations 18,171 30,100 30,100 19,917 Internal Service Charges 86,600 86,600 119,600 119,600 6003 - Building 1,521,525 1,513,600 1,524,800 1,467,698 Salaries and Benefits 815,171 863,800 863,800 895,780 Contract Services 411,429 350,000 350,000 265,173 Maintenance & Operations 5,225 10,100 10,100 5,846 Internal Service Charges 289,700 289,700 300,900 300,900 6004 - Code Compliance/Animal Control 1,546,678 1,821,340 1,801,240 1,494,701 Salaries and Benefits 748,874 868,040 863,240 670,230 Contract Services 408,812 540,500 527,500 458,518 Maintenance & Operations 8,392 32,200 45,200 35,152 Internal Service Charges 380,600 380,600 365,300 330,800 6005 - Public Safety Administration 123,967 269,890 269,440 320,427 Salaries and Benefits 62,451 211,890 224,540 246,695 Maintenance & Operations 9,516 6,000 6,000 332 Internal Service Charges 52,000 52,000 38,900 73,400 6006 - The Hub 1,246,383 1,499,875 1,509,175 1,338,452 Salaries and Benefits 940,723 1,199,925 1,199,925 1,059,263 Contract Services 40,373 25,000 25,000 0 Maintenance & Operations 5,488 15,150 15,150 10,089 41,798 36,000 46,000 41,238 36,267 65,400 55,400 28,382 120,432 25,000 25,000 0 117,700 117,700 92,100 92,100 1,233,529 1,956,000 2,069,500 1,549,694 274,114 598,600 590,700 439,430 541,334 665,000 665,000 576,745 369,681 644,000 644,000 363,719 48,400 48,400 169,800 169,800 4,113,554 4,538,300 5,598,500 5,448,040 466,872 485,050 485,050 491,711 808,214 1,089,000 1,089,000 1,121,783 1,053,590 1,165,300 1,165,300 1,026,247 528,379 542,450 542,450 491,599 1,256,500 1,256,500 2,316,700 2,316,700 1,850,681 1,932,600 1,986,500 1,825,063 268,528 301,300 305,100 311,655 519,914 495,000 506,500 450,407 1,027,539 1,101,600 1,115,100 1,003,201 34,700 34,700 59,800 59,800 1,670,209 1,875,750 1,885,400 1,710,962 624,006 726,050 726,050 691,717 222,069 279,500 279,500 224,435 224,060 365,700 280,000 198,781 298,573 203,000 288,700 284,879 301,500 301,500 311,150 311,150 709,446 826,800 822,150 730,530 366,628 472,400 490,350 467,197 150,354 160,000 160,000 98,082 8,764 10,700 10,700 4,151 183,700 183,700 161,100 161,100 560,046 856,900 894,700 772,677 405,712 590,200 595,000 598,107 49,563 150,000 150,000 35,052 18,171 30,100 30,100 19,917 86,600 86,600 119,600 119,600 1,521,525 1,513,600 1,524,800 1,467,698 815,171 863,800 863,800 895,780 411,429 350,000 350,000 265,173 5,225 10,100 10,100 5,846 289,700 289,700 300,900 300,900 1,546,678 1,821,340 1,801,240 1,494,701 748,874 868,040 863,240 670,230 408,812 540,500 527,500 458,518 8,392 32,200 45,200 35,152 380,600 380,600 365,300 330,800 123,967 269,890 269,440 320,427 62,451 211,890 224,540 246,695 9,516 6,000 6,000 332 52,000 52,000 38,900 73,400 1,246,383 1,499,875 1,509,175 1,338,452 940,723 1,199,925 1,199,925 1,059,263 40,373 25,000 25,000 0 5,488 15,150 15,150 10,089 CITY OF LA QUINTA GENERAL FUND EXPENSE SUMMARY BY DEPARTMENT EXHIBIT B FY 2024/25 YEAR-END BUDGET REPORT 36 2023/24 Actuals 2024/25 Original Budget 2024/25 Final Budget 2024/25 Actuals Internal Service Charges 259,800 259,800 269,100 269,100 7001 - Public Works Administration 686,074 835,797 839,897 615,280 Salaries and Benefits 564,223 608,497 608,497 490,737 Contract Services 0 100,000 100,000 0 Maintenance & Operations 6,352 11,800 11,800 4,944 Internal Service Charges 115,500 115,500 119,600 119,600 7002 - Public Works Development Services 429,434 539,383 542,883 410,961 Salaries and Benefits 169,992 191,683 191,683 182,394 Contract Services 170,306 255,000 255,000 135,685 Maintenance & Operations 1,936 5,500 5,500 2,182 Internal Service Charges 87,200 87,200 90,700 90,700 7003 - Streets- Traffic 411,774 1,036,550 1,189,650 786,450 Salaries and Benefits 163,676 256,900 256,900 187,392 Contract Services 107,074 610,000 626,000 304,244 Maintenance & Operations 53,580 78,050 104,050 95,601 Other Expenses 0 5,000 5,000 1,515 Repair & Maintenance 0 0 108,000 107,999 Utilities 845 0 0 0 Internal Service Charges 86,600 86,600 89,700 89,700 7006 - Engineering Services 786,850 1,234,400 1,237,500 903,505 Salaries and Benefits 345,257 386,300 386,300 392,468 Contract Services 192,626 550,000 548,500 277,868 Maintenance & Operations 10,001 11,500 13,000 10,461 Other Expenses 152,366 200,000 200,000 133,008 Internal Service Charges 86,600 86,600 89,700 89,700 GENERAL FUND EXPENSES 67,362,648 83,331,665 108,418,588 68,708,278 259,800 259,800 269,100 269,100 686,074 835,797 839,897 615,280 564,223 608,497 608,497 490,737 0 100,000 100,000 0 6,352 11,800 11,800 4,944 115,500 115,500 119,600 119,600 429,434 539,383 542,883 410,961 169,992 191,683 191,683 182,394 170,306 255,000 255,000 135,685 1,936 5,500 5,500 2,182 87,200 87,200 90,700 90,700 411,774 1,036,550 1,189,650 786,450 163,676 256,900 256,900 187,392 107,074 610,000 626,000 304,244 53,580 78,050 104,050 95,601 0 5,000 5,000 1,515 0 0 108,000 107,999 845 0 0 0 86,600 86,600 89,700 89,700 786,850 1,234,400 1,237,500 903,505 345,257 386,300 386,300 392,468 192,626 550,000 548,500 277,868 10,001 11,500 13,000 10,461 152,366 200,000 200,000 133,008 86,600 86,600 89,700 89,700 67,362,648 83,331,665 108,418,588 68,708,278 CITY OF LA QUINTA GENERAL FUND EXPENSE SUMMARY BY DEPARTMENT EXHIBIT B FY 2024/25 YEAR-END BUDGET REPORT 37 Project #Project Name General Fund Measure G TOTAL 111205 Dune Palms Bridge Improvements (652,440) -(652,440) 2425DRA Citywide Drainage Enhancements 1,618,127 -1,618,127 2425ADA ADA Improvements 42,150 -42,150 2425PMP Pavement Management 752,553 -752,553 2425STI Sidewalk Improvements 176,646 -176,646 201603 Landscape Renovations 426,073 1,629,489 2,055,562 201606 Civic Center Campus Lake 486,163 -486,163 201805 Corporate Yard Admin. Offices & Crew Quarters -1,059,937 1,059,937 201901 Village Art Plaza Promenade & Cultural Campus -1,308,208 1,308,208 201905 Highway 111 Corridor -3,021,418 3,021,418 201908 Citywide Catch Basin Modifications 250,000 -250,000 202102 Fritz Burns Park Improvements 1,000,000 5,929,346 6,929,346 202202 City Hall Capacity Improvements 550,000 -550,000 202204 Sports Complex Lighting Replacement -29,176 29,176 202206 Village Utilities Undergrounding Project 9,249 (17,515)(8,266) 202207 Highway 111 at Jefferson Street Rehabilitation (13,711)-(13,711) 202209 ADA Transition Plan Update -150,000 150,000 202211 Village Parking Lot -500,000 500,000 202212 Phase II Camera System -1,648,326 1,648,326 202213 Smart Infrastructure Improvements Feasibility Study -248,068 248,068 202225 Highway 111 Rehabilitation Project -2,950,875 2,950,875 202230 Cove Trails Parking Lot Improvements (13,752)-(13,752) 202304 Highway 111 Event Site -500,000 500,000 202308 X Park Building ADA Improvements 338,868 -338,868 202309 Washington St Connector to Art & Music Line -1,122,587 1,122,587 202310 SilverRock Dust Control improvements 1,000,000 -1,000,000 202317 Eisenhower Drive at Avenue 50 Drainage (243)-(243) 202322 Eisenhower Retention Basin Slope Repair 45,500 -45,500 202333 Bridge Preventative Maintenance Program 159,857 -159,857 202335 Miscellaneous Retention Basin Improvements 92,365 -92,365 202404 City Hall Drainage Improvements 972,359 -972,359 202405 Citywide Miscellaneous ADA Improvements 37,953 -37,953 202406 Citywide Miscellaneous Concrete Improvements 994,661 -994,661 202407 Citywide Dog Park Improvements 998,220 500,000 1,498,220 202408 Village Parking Lot Utility Undergrounding 500,000 -500,000 202409 Bear Creek Trailhead Restrooms -748,635 748,635 202412 FY 24/25 PMP- Fred Waring Drive- Misc. Locations (20,519)-(20,519) 202413 SilverRock Temporary Golf Cart Path Paving 32,898 -32,898 202415 Citywide Irrigation Upgrade -(64,061) (64,061) 202418 Fritz Burns Park Lighted Crosswalk 700,000 -700,000 202419 Desert Club Dr/Avenida Bermundas Drainage (48)-(48) 202420 Eisenhower Drive Road Diet (4,166)-(4,166) 999902 Jefferson Interchange 34,987 -34,987 TOTAL 10,513,753$ 21,264,489$ 31,778,242$ 33%67%100% (Negative balances represent temporary funding until grants are received) GENERAL FUND Capital Improvement Project Carryovers from 2024/25 to 2025/26 CAPITAL IMPROVEMENT PROJECT CARRYOVERS Estimated Capital Improvement Project (CIP) carryovers from FY 2024/25 to FY 2025/26 were originally projected during the budget development process based on anticipated project timelines. Following review of project balances and outstanding commitments, amended carryovers have been identified for projects that were not completed in FY 2024/25 and require remaining budget authority to continue into FY 2025/26. EXHIBIT C 38 Description/Program Account Number Account Name Estimated Revised Fiscal analysis for citywide projects 101-1002-60510 Contingency for Operations 200,000$ -$ Marketing efforts to attract group business to hotels 101-1007-60536 TOT Resort Rebate Program 450,000$ 450,000$ Fire Ladder Truck purchase 101-2002-80101 Machinery & Equipment 400,000$ 400,000$ $ 1,050,000 $ 850,000 HVAC replacement 202-3004-60667 HVAC $- $ 75,000 Tree maintenance 215-7004-60673 Tree Maintenance/Palm Trees $ 500,000 $ 500,000 Dune Palms Mobile Estates improvements 241-9104-72110 Building/Site Improvements $ 430,000 $ 417,700 Homelessness assistance 243-0000-60532 Homelessness Assistance $ 49,200 $ 48,400 Vehicle upgrades 501-0000-60675 Parts, Accessories, and Upfits $ 75,000 $- Purchase of two City vehicles 501-0000-71031 Vehicles, Purchased $-$ 100,000 City facility improvements 501-0000-71103 City Bldg Repl/Repair $ 150,000 $ 150,000 IT citywide upgrades 502-0000-80100 Machinery & Equipment $ 200,000 $ 200,000 Aging inventory upgrades 502-0000-80103 Computers $ 100,000 $ 100,000 Park supplies and upgrades 503-0000-71060 Parks $ 500,000 $ 500,000 $ 2,004,200 $ 2,091,100 $ 3,054,200 $ 2,941,100 Revised Continuing Appropriations/Carryovers from 2024/25 to 2025/26 GENERAL FUND CARRYOVERS SPECIAL FUNDS CARRYOVERS TOTAL CARRYOVERS FOR ALL FUNDS NOTE: In June 2025 when the budget is adopted, all carryovers are estimates based on projected invoices to end fiscal year 2024/25. Upon completion of the final audit, Finance verifies account balances and makes additional carryover recommendations based on current budgetary needs. In no event shall a carryover exceed the revised per account amount above. AMENDED CARRYOVERS Estimated carryovers from the 2024/25 to 2025/26 budget were estimated based on projected invoices in the Spring of 2025. Upon completion of the final audit, Finance verifies account balances and carryovers and amended carryovers will be added to the 2025/26 budget. EXHIBIT D 39 40 City of La Quinta FINANCIAL ADVISORY COMMISSION SPECIAL MEETING: April 8, 2026 STAFF REPORT AGENDA TITLE: RECEIVE AND FILE FISCAL YEAR 2025/26 MID-YEAR BUDGET REPORT RECOMMENDATION Receive and file fiscal year 2025/26 Mid-Year Budget Report. EXECUTIVE SUMMARY The fiscal year 2025/26 Mid-Year Budget Report (Attachment 1) provides an update of the City’s fiscal activities from July 2025 to December 2025. The Mid-Year Budget Report includes revenue and expenditure adjustments within the General Fund and Disaster Recovery Fund, and addition of one new position to support operational needs. This report was presented to Council on March 17, 2026. FISCAL IMPACT Staff recommended adjustments are: BACKGROUND AND ANALYSIS Throughout the fiscal year, each department monitors their budget and proposes adjustments to reflect current conditions and operational needs. These requests undergo review by the City Manager and department directors before final recommendations are included in the Budget Report. Funds without adjustments have been excluded. ALTERNATIVES The Commission could request additional information regarding the budget adjustments. Fund # Fund Name Revenue Expenses 101 General Fund 4,435,000$ 60,000$ 105 Disaster Recovery 4,993,504 -$ TOTAL ADJUSTMENTS 9,428,504$ 60,000$ BUSINESS SESSION ITEM NO. 2 41 Prepared by: Claudia Martinez, Finance Director/City Treasurer Approved by: Jon McMillen, City Manager Attachment: 1. 2025/26 Mid-Year Budget Report 42 Fiscal Year 2025/26 Mid-Year Budget Report SUMMARY The annual budget is a flexible management tool that allows the City to respond to changing operational needs and updated financial projections throughout the fiscal year. Periodic budget reports provide transparency and oversight of public funds, summarize current activities, and present recommended funding adjustments when necessary. While all funds are continually monitored, this report highlights only those funds requiring budget modifications; funds without adjustments are not included. The City of La Quinta remains committed to responsible fiscal management, careful budget oversight, and long-term financial sustainability. Based on the current review, General Fund revenues and expenditures are generally performing in line with adopted budget expectations. However, given evolving economic conditions, the City will continue to closely monitor financial activity to ensure resources are managed effectively. These updates allow the City Council to stay informed on revenue and expenditure trends and support timely, well-informed policy decisions. The Fiscal Year (FY) 2025/26 Mid-Year Budget Report has several adjustments, which are detailed in Exhibit 1. The recommended adjustments are largely derived from year-to-date revenues collected and expenses incurred due to programming activities and operational needs. GENERAL FUND REVENUES General Fund revenue adjustments summarized below total $4,435,000. Adjustments reflect updated projections based on last fiscal year’s actuals and year-to-date activity. All revenue streams will continue to be monitored and if necessary, additional adjustments will be recommended in the next budget update report in June. Tax Revenues Sales Taxes - Sales tax revenues were conservatively budgeted based on information available as of June 2025. Since that time, collections have remained steady and have performed above prior quarterly trends. Based on current year-to-date activity and updated projections, sales tax revenues are anticipated to exceed the original budget by approximately $2.5 million by fiscal Revenue Description Adjustment Tax Revenues 3,755,000 Intergovernmental 500,000 Charges for Services 80,000 Miscellaneous 100,000 TOTAL GF REVENUE ADJUSTMENTS 4,435,000$ ATTACHMENT 1 43 year-end. Of this increase, approximately $1.0 million is attributable to the City’s share of the State sales tax rate, while $1.5 million is attributed to local Measure G sales tax collections. Document Transfer Tax – An increase of $300,000 is recommended based on actual revenues received year-to-date. Continued strength in the local real estate market, along with strong transaction values, has contributed to collections exceeding original projections. Transient Occupancy Tax (TOT) – When the budget was adopted, TOT revenues were conservatively projected due to uncertainty surrounding broader economic conditions and travel demand. Based on actual revenue collections received year-to-date, an increase of $600,000 is recommended for Hotel TOT and $200,000 for Short-Term Vacation Rental TOT, reflecting continued visitor activity and stronger-than-anticipated occupancy levels during the current fiscal year. Property Taxes – An increase of $155,000 in Property Tax in Lieu of Vehicle License Fee (VLF) is requested due to growth in property values due to increased sales prices in 2025, the year used for growth in assessment roll for 2025/26. Intergovernmental An increase of $500,000 is requested for the Fire Service Credit which is anticipated to be higher than the original projected estimates provided by Riverside County. Charges for Services An increase of $80,000 in Public Works Development Plan Check Fees is based on current year- to-date activity in private residential tract developments and commercial projects. Miscellaneous An increase of $100,000 is recommended to account for unanticipated reimbursements and one- time funds received from external agencies during the fiscal year. These revenues include settlement-related distributions and other miscellaneous receipts that were not known at the time the budget was adopted but have been received year-to-date. GENERAL FUND EXPENDITURES The Finance Department collaborated with all City departments and conducted a review of all department budgets to identify any new needs and potential areas of savings. Expenditure adjustments are recommended for unanticipated expenses and to avoid budget overruns based on updated operational needs. A summary is provided below and itemized in Exhibit 1. Expense Description Adjustment Public Safety 45,000 Marketing 15,000 Public Works 20,000 Contingency for Staffing (20,000) TOTAL GF EXPENSE ADJUSTMENTS 60,000$ 44 Public Safety An increase of $45,000 for the Vehicles account is recommended to account for the purchase of two Police motor bikes that experienced delivery delays due to extended backorder timelines. The adjustment aligns the budget with the timing of the expenditure. Marketing The Marketing division is requesting an additional $15,000 for Sponsorships/Advertising due to an increase in sponsorship commitments that will enhance community engagement and promote local events, businesses, and initiatives. Public Works The Public Works Development Services Division is requesting City Council approval to add a new Engineering Specialist position. Currently, the division is staffed with only one Analyst position, the Associate Engineer, which limits the division’s capacity to manage plan reviews, coordinate with developers, and respond to ongoing development activity. The proposed Engineering Specialist would assist with administrative and technical tasks, including preliminary plan reviews, permit coordination, and project communication with internal departments and external stakeholders. Establishing this position will help maintain continuity of service, improve responsiveness to development activity, and support succession planning within the division, while allowing the Associate Engineer to focus on higher-level engineering analysis and project management responsibilities. The request aligns staffing resources with the City’s operational needs and current development activity. The estimated annual cost for the Engineering Specialist position is approximately $120,000, including salary and benefits. For the current fiscal year, staff is requesting a proportionate budget adjustment of $20,000 to cover costs associated with the final two months of the fiscal year. Funding for this adjustment will be provided through the Contingency for Staffing account. SPECIAL REVENUE FUNDS Special Revenue Funds are used to account for revenues that are legally restricted or committed to specific purposes. Periodic budget adjustments may be required to recognize revenues received, align expenditures with program activities, or align accounting entries to ensure funds are reported accurately. The following adjustment is recommended to properly reflect revenues received for disaster recovery activities. Disaster Recovery Fund (Fund 105) An adjustment of $4,993,504 is recommended to recognize federal revenue received for disaster recovery activities. While the transfer of funds from Fund 105 to the General Fund (Fund 101) was previously completed, the corresponding revenue was not recorded. This adjustment corrects the accounting treatment and aligns the revenue with the original funding source. ___________________________________________________________________________ In summary, the City concluded FY 2024/25 in a stronger financial position than originally anticipated and continues to maintain a stable financial outlook as the current fiscal year progresses. While the City’s fiscal position remains solid, ongoing economic uncertainty requires continued prudence and adaptability in financial planning. This budget update reflects strategic adjustments intended to support a balanced and sustainable financial plan while prioritizing 45 reserve levels, addressing long-term liabilities, investing in infrastructure, and maintaining the programs, services, and community events valued by residents. Staff will continue to closely monitor economic conditions and budget performance to ensure the City remains well-positioned to respond to potential financial changes. Departmental spending remains generally consistent with budget expectations, and if revenue trends continue to perform as projected, the City is well positioned to conclude the fiscal year in a favorable financial position. All budget projections for both the General Fund and other City funds will continue to be evaluated through Spring 2026, and an additional update will be presented as part of the next FY 2025/26 Budget Update Report. 46 City of La Quinta FY 2025/26 Recommended Budget Adjustments Exhibit 1 Account No. Description Revenues Expenses REVENUE Tax Revenues 101-0000-41320 State Sales Tax 1,000,000 101-0000-41326 Measure G Sales Tax 1,500,000 101-0000-41327 Document Transfer Tax 300,000 101-0000-41400 TOT- Hotels 600,000 101-0000-41401 TOT- Short Term Vacation Rentals 200,000 101-0000-41800 Property Tax in Lieu of VLF 155,000 Intergovernmental 101-0000-42500 Fire Service Credit 500,000 Charges for Services 101-0000-42810 Public Works Development Plan Check Fee 80,000 Miscellaneous 101-0000-42301 Miscellaneous Reimbursements 100,000 EXPENSES Public Safety 101-2001-71031 Vehicles 45,000 Marketing 101-3007-60450 Sponsorships/Advertising 15,000 Public Works 101-7002-50101 20,000 101-1007-50115 Permanent Full Time (Public Works Development Services) Contingency for Staffing (20,000) TOTAL GENERAL FUND 4,435,000 60,000 Account No. Description Revenues Expenses Fund 105 Disaster Recovery 105-0000-41700 Federal Government Revenue 4,993,504 TOTAL SPECIAL REVENUE FUNDS 4,993,504 - General Fund (101) Special Revenue Funds 47 48 City of La Quinta FINANCIAL ADVISORY COMMISSION SPECIAL MEETING: April 8, 2026 STAFF REPORT AGENDA TITLE: RECEIVE AND FILE SECOND QUARTER FISCAL YEAR 2025/26 TREASURY REPORTS FOR OCTOBER, NOVEMBER AND DECEMBER 2025 RECOMMENDATION Receive and file the second quarter fiscal year 2025/26 Treasury Reports for October, November, and December 2025. BACKGROUND/ANALYSIS Commentary and Summary of Significant Activity The total book value of the portfolio increased approximately $8.47 million from $280.7 million at the end of September to $289.2 million at the end of December. In addition to normal operations, the increase can be partially attributed to the repayment of the SilverRock Debtor in Possession financing. The portfolio is within policy limits for total allocation by type and is also within policy guidelines for investment ratings. The chart below shows the portfolio policy compliance as measured in market value. The total market value of the portfolio increased $8.72 million from $281.5 million in September to $290.2 million in December. This variance differs from the book value increase due to market valuation fluctuations in response to interest rates. Utilizing short-term funds for liquidity needs eliminates circumstances which might require the sale of longer-term investments at unfavorable prices, and therefore the City remains unaffected by these market fluctuations. BUSINESS SESSION ITEM NO. 3 49 Treasury Rates The annualized total rate of return averaged 3.75% for the quarter and the portfolio yield to maturity was 3.64%. Total interest received for the quarter was $2.05 million. City staff routinely evaluates liquidity needs while also monitoring market trends. We are closely watching the treasury market, which continues to experience yield fluctuations as the market tries to predict the Fed movement. We are continuing to utilize the California Asset Management Pool (CAMP) pool, but may transfer more assets to the Local Agency Investment Fund (LAIF) if yields continue to drop. The City also continues to use a sweep function on both our operating account and our custody bank cash account, whereby funds are placed into highly-rated government funds (Invesco Treasury Portfolio – ticker TYCXX and First American Treasury Fund – ticker FUZXX) that earn interest until such time that money is reinvested or used for operations. Throughout the quarter, eight federal agency bonds, three treasuries, and two CDs matured, and one CD was sold. One federal agency bond, four treasuries, six CDs, and two corporate bonds were purchased. Maturities and purchases are listed in detail in Attachment 1. Other Notes Money market funds with the fiscal agent are bond proceeds subject to bond indentures, not the City’s investment policy. Successor Agency (SA) funds cannot be invested long- term; therefore, SA funds are only invested in LAIF. Looking Ahead The Treasurer follows a “buy and hold” Investment Policy, unless it is fiscally advantageous to actively trade outside of maturity dates. In the short term, the Treasurer will invest in Money Market/Mutual Funds, CAMP, LAIF, and U.S. Treasuries as needed. Longer term investments may include Government Sponsored Enterprise (agencies) Total Interest Received Average Days to Maturity Yield To Maturity Annualized Total Rate of Return October 687,066$ 642 3.66% 3.78% November 652,213$ 630 3.64% 3.63% December 715,412$ 611 3.62% 3.85% Quarter 2 2,054,691$ 628 3.64% 3.75% Quarter 1 2025/26 2,216,299$ 605 3.69% 3.73% 50 securities, U.S. Treasuries, Corporate Notes, and Negotiable Certificates of Deposits. All investments recognize both immediate and long-term cash flow needs, and there is sufficient liquidity in the portfolio to meet expenditure requirements for the next six months. ALTERNATIVES - None Prepared by: Rosemary Hallick, Principal Management Analyst Approved by: Claudia Martinez, Finance Director/City Treasurer Attachment: 1. Treasurer’s Report for October 1, 2025 to December 31, 2025 51 --.. AIJFOR. IA -- City of La Quinta Investment Portfolio Quarterly Investment Report October 31, 2025 COMPLIANCE I I certify that this report accurately reflects all pooled investments and is in compliance with the California Government Code and the City Investment Policy. As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the City's expenditure requirements for the next six months. The City of La Quinta used the monthly account statements issued by our financial institutions to determine the fair market value of investments at month end. Portfolio Name Face Amount/Shares CAMP 56,212,567.33 CERBT OPEB Trust 2,326,100.47 Fiscal Agent -Debt Service 36,034.73 Fixed Income Investments 176,032,000.00 Housing Authority -LQPR 229,563.66 Housing Authority -DPME 1,397,458.96 Housing Authority -LAIF 2,276,240.49 LAIF 25,387,781.93 Money Market at Custodian 212,911.04 Operating Funds 6,201,764.97 PARS Pension Trust 6,439,490.76 Total / Average 276,751,914.34 Claudia Martinez, Finance Director/City Treasurer Market Value 56,212,567.33 2,326,100.47 36,034.73 176,297,915.41 229,563.66 1,397,458.96 2,281,206.07 25,443,164.94 212,911.04 6,201,764.97 6,439,490.76 277,078,178.34 3/26/2025 Date Book Value 56,212,567.33 2,326,100.47 36,034.73 175,447,132.43 229,563.66 1,397,458.96 2,276,240.49 25,387,781.93 212,911.04 6,201,764.97 6,439,490.76 276,167,046.77 % of Portfolio YTM@Cost 20.35 4.16 0.84 0.86 0.01 3.57 63.53 3.58 0.08 0.00 0.51 0.00 0.82 4.15 9.19 4.15 0.08 3.96 2.25 3.94 2.33 0.91 100.00 3.66 Days To Maturity 127 1 1 969 1 1 1 1 1 1 1 642 ATTACHMENT 1 52 City of La Quinta I CA Portfolio Holdings Compliance Report I Investment Policy -by Issuer Report Format: By Transaction Group By: Security Type Average By: Face Amount/ Shares Portfolio / Report Group: All Portfolios As of 10/31/2025 Asset % of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Cash Checking I BMO Bank I LQ Palms LQPR1935 Savings I 0.08 14.08 3/31/2024 0.000 229,563.66 229,563.66 229,563.66 N/A Realty Cash Sweep Accounts Checking I BMO Suntrust I Dune DPME4741-3599 Savings I 0.50 85.72 3/31/2024 0.000 1,397,458.96 1,397,458.96 1,397,458.96 N/A Palms Cash Sweep Accounts Checking I City of La Quinta Cash PETTYCASH Savings I 0.00 0.20 3/31/2024 0.000 3,300.00 3,300.00 3,300.00 N/A Sweep Accounts Sub Total / Average 0.59 100.00 0.000 1,630,322.62 1,630,322.62 1,630,322.62 1 0.00 Cash Corporate Bond Blackrock Funding Inc 09290DAA9 Corporate 0.36 40.00 3/28/2024 4.623 1,000,000.00 1,003,380.00 1,022,160.00 3/14/2029 1,230 6,136.11 4.7 3/14/2029-29 Notes I 30 % International Finance 45950VPS9 Corporate 0.18 20.00 2/26/2021 0.610 500,000.00 497,300.00 494,115.00 2/26/2026 118 451.39 Corp 0.5 2/26/2026 Notes 130 % Walmart Inc 3.7 931142EE9 Corporate 0.36 40.00 6/26/2023 4.303 1,000,000.00 973,110.00 1,000,440.00 6/26/2028 969 12,847.22 6/26/2028-28 Notes 130 % Sub Total / Average 0.90 100.00 3.692 2,500,000.00 2,473,790.00 2,516,715.00 903 19,434.72 Corporate Bond FFCB Bond FFCB 0. 71 8/10/2026-3133EM2C5 US Agency I 0.18 1.89 8/10/2021 0.792 500,000.00 498,000.00 488,140.00 8/10/2026 283 798.75 23 100 % FFCB 0.8 9/10/2026 3133EM4X7 US Agency I 0.36 3.77 9/28/2021 0.985 1,000,000.00 991,080.00 975,010.00 9/10/2026 314 1,133.33 100 % FFCB 1.27 11/2/2026 3133ENCQ1 US Agency I 0.36 3.77 11/2/2021 1.270 1,000,000.00 1,000,000.00 975,030.00 11/2/2026 367 6,314.72 100 % FFCB 3.375 9/15/2027 3133ENL99 US Agency I 0.36 3.77 9/15/2022 3.430 1,000,000.00 997,492.55 995,040.00 9/15/2027 684 4,312.50 100% FFCB 3.5 9/10/2029 3133ERSP7 US Agency I 0.36 3.77 9/18/2024 3.470 1,000,000.00 1,001,350.00 993,920.00 9/10/2029 1,410 4,958.33 100 % FFCB 3.75 12/7/2027 3133EN3S7 US Agency I 0.36 3.77 12/7/2022 3.794 1,000,000.00 998,000.00 1,002,760.00 12/7/2027 767 15,000.00 100 % 53 Asset % of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest FFCB 3.75 8/14/2028 3133ETTJ6 US Agency I 0.36 3.77 8/14/2025 3.721 1,000,000.00 1,000,810.00 1,004,180.00 8/14/2028 1,018 8,020.83 100 % FFCB 3.75 8/15/2029 3133ERPS4 US Agency I 0.36 3.77 8/15/2024 3.800 1,000,000.00 997,742.00 1,003,110.00 8/15/2029 1,384 7,916.67 100 % FFCB 3.875 1/18/2029 3133EPW84 US Agency I 0.36 3.77 1/18/2024 4.051 1,000,000.00 992,100.00 1,008,550.00 1/18/2029 1,175 11,086.81 100% FFCB 3.875 1/18/2029 3133EPW84 US Agency I 0.36 3.77 1/30/2024 4.000 1,000,000.00 994,400.00 1,008,550.00 1/18/2029 1,175 11,086.81 100 % FFCB 3.875 10/15/2027 3133ERXJ5 US Agency I 0.36 3.77 10/15/2024 3.875 1,000,000.00 1,000,000.00 1,003,750.00 10/15/2027 714 1,722.22 100 % FFCB 3.875 12/10/2027 3133ER6Q9 US Agency I 0.36 3.77 3/19/2025 4.020 1,000,000.00 996,331.25 1,002,220.00 12/10/2027 770 15,177.08 100% FFCB 3.875 2/14/2028 3133EPAV7 US Agency I 0.36 3.77 2/15/2023 3.977 1,000,000.00 995,400.00 1,002,350.00 2/14/2028 836 8,288.19 100 % FFCB 3.875 6/8/2028 3133EPME2 US Agency I 0.36 3.77 6/8/2023 3.915 1,000,000.00 998,190.00 1,004,220.00 6/8/2028 951 15,392.36 100% FFCB 4 11/29/2027 3133EN3H1 US Agency I 0.36 3.77 11/29/2022 4.030 1,000,000.00 998,650.00 1,006,120.00 11/29/2027 759 16,888.89 100 % FFCB 4 3/18/2030 3133ER7L9 US Agency I 0.36 3.77 3/19/2025 4.080 1,000,000.00 996,415.16 1,007,950.00 3/18/2030 1,599 4,777.78 100 % FFCB 4 4/1/2030 3133ETBF3 US Agency I 0.36 3.77 4/9/2025 3.900 1,000,000.00 1,004,470.00 1,011,330.00 4/1/2030 1,613 3,333.33 100% FFCB 4 5/1/2030 3133ETFAO US Agency I 0.36 3.77 5/1/2025 4.000 1,000,000.00 1,000,000.00 1,007,730.00 5/1/2030 1,643 20,000.00 100 % FFCB 4 6/17/2030 3133ETLM7 US Agency I 0.36 3.77 6/17/2025 4.045 1,000,000.00 997,981.30 1,012,400.00 6/17/2030 1,690 14,888.89 100% FFCB 4 9/29/2027 3133ENQ29 US Agency I 0.36 3.77 9/30/2022 4.080 1,000,000.00 996,400.00 1,005,100.00 9/29/2027 698 3,555.56 100% FFCB 4.125 12/17/2029 3133ERL41 US Agency I 0.36 3.77 12/17/2024 4.140 1,000,000.00 999,320.00 1,012,920.00 12/17/2029 1,508 15,354.17 100 % FFCB 4.125 2/13/2029 3133EP3B9 US Agency I 0.36 3.77 2/14/2024 4.318 1,000,000.00 991,400.00 1,014,790.00 2/13/2029 1,201 8,937.50 100% FFCB 4.25 7/17/2028 3133EPQDO US Agency I 0.36 3.77 7/31/2023 4.280 1,000,000.00 998,655.69 1,014,960.00 7/17/2028 990 12,277.78 100 % FFCB 4.25 8/7/2028 3133EPSK2 US Agency I 0.36 3.77 8/18/2023 4.467 1,000,000.00 990,400.00 1,014,180.00 8/7/2028 1,011 9,916.67 100 % FFCB 4.33 3/18/2030-3133ER7E5 US Agency I 0.36 3.77 4/23/2025 4.330 1,000,000.00 1,000,000.00 1,006,110.00 3/18/2030 1,599 5,171.94 27 100% FFCB 4.375 4/10/2029 3133ERAK7 US Agency I 0.36 3.77 4/23/2024 4.701 1,000,000.00 985,690.00 1,023,430.00 4/10/2029 1,257 2,552.08 100 % FFCB 4.625 11/13/2028 3133EPC45 US Agency I 0.36 3.77 11/13/2023 4.630 1,000,000.00 999,770.00 1,026,040.00 11/13/2028 1,109 21,583.33 100 % Sub Total / Average 9.58 100.00 3.763 26,500,000.00 26,420,047.95 26,629,890.00 1,071 250,446.52 FFCB Bond FHLB Bond FHLB 0.375 12/12/2025 3130AKFA9 US Agency I 0.18 1.87 12n12020 0.480 500,000.00 497,400.00 498,075.00 12/12/2025 42 723.96 100% 54 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest FHLB 0.51 1/14/2026-3130AKMZ6 US Agency I 0.18 1.87 1/14/2021 0.510 500,000.00 500,000.00 496,615.00 1/14/2026 75 757.92 22 100% FHLB 0.55 1/29/2026-3130AKN28 US Agency I 0.18 1.87 1/29/2021 0.550 500,000.00 500,000.00 496,005.00 1/29/2026 90 702.78 21 100% FHLB 0.75 6/12/2026 3130AMFS6 US Agency I 0.36 3.75 6/17/2021 0.885 1,000,000.00 993,420.00 982,080.00 6/12/2026 224 2,895.83 100% FHLB 0.95 10/13/2026-3130APB46 US Agency I 0.36 3.75 10/13/2021 0.986 1,000,000.00 998,250.00 974,180.00 10/13/2026 347 475.00 23 100% FHLB 1 9/30/2026-22 3130APBM6 US Agency I 0.36 3.75 9/30/2021 1.021 1,000,000.00 999,000.00 975,210.00 9/30/2026 334 833.33 100% FHLB 1.25 12/21/2026 3130AQF65 US Agency I 0.36 3.75 12/22/2021 1.255 1,000,000.00 999,750.00 973,730.00 12/21/2026 416 4,513.89 100% FHLB 1.5 1/27/2027-23 3130AQJR5 US Agency I 0.36 3.75 1/27/2022 1.500 1,000,000.00 1,000,000.00 972,810.00 1/27/2027 453 3,916.67 100% FHLB 1.83 2/10/2027-3130AQSA2 US Agency I 0.36 3.75 2/10/2022 1.830 1,000,000.00 1,000,000.00 976,070.00 2/10/2027 467 4,117.50 23 100% FHLB 2.7 4/19/2027-24 3130ARGY1 US Agency I 0.36 3.75 4/19/2022 2.700 1,000,000.00 1,000,000.00 985,370.00 4/19/2027 535 900.00 100% FHLB 3.3 6/28/2027-24 3130ASDV8 US Agency I 0.11 1.12 6/28/2022 3.300 300,000.00 300,000.00 298,077.00 6/28/2027 605 3,382.50 100% FHLB 3.5 9/13/2030 3130AF2S5 US Agency I 0.36 3.75 9/15/2025 3.580 1,000,000.00 996,370.00 990,880.00 9/13/2030 1,778 4,666.67 100% FHLB 3.65 10/21/2030-3130B8CC4 US Agency I 0.36 3.75 10/24/2025 3.650 1,000,000.00 1,000,000.00 995,140.00 10/21/2030 1,816 811.11 28 100% FHLB 4 10/5/2029-27 3130B35F6 US Agency I 0.36 3.75 10/8/2024 4.000 1,000,000.00 1,000,000.00 998,040.00 10/5/2029 1,435 2,888.89 100% FHLB 4 10/9/2026 3130B3A29 US Agency I 0.36 3.75 3/19/2025 4.020 1,000,000.00 999,682.10 1,002,270.00 10/9/2026 343 2,444.44 100% FHLB 4 7/30/2029-27 3130B7BU7 US Agency I 0.36 3.75 7/31/2025 4.000 1,000,000.00 1,000,000.00 1,003,340.00 7/30/2029 1,368 10,000.00 100% FHLB 4.125 4/4/2030-3130B5SX7 US Agency I 0.36 3.75 4/4/2025 4.125 1,000,000.00 1,000,000.00 999,730.00 4/4/2030 1,616 3,093.75 27 100% FHLB 4.125 9/14/2029 3130ATHX8 US Agency I 0.36 3.75 10/31/2024 4.125 1,000,000.00 1,000,000.00 1,016,410.00 9/14/2029 1,414 5,385.42 100% FHLB 4.2 3/27/2030-28 3130B5K80 US Agency I 0.36 3.75 3/27/2025 4.200 1,000,000.00 1,000,000.00 1,005,040.00 3/27/2030 1,608 3,966.67 100% FHLB 4.3 10/23/2029-3130B3ES8 US Agency I 0.36 3.75 10/30/2024 4.351 1,000,000.00 997,750.00 1,001,860.00 10/23/2029 1,453 955.56 26 100% FHLB 4.3 6/17/2030-27 3130B6PN0 US Agency I 0.36 3.75 6/17/2025 4.300 1,000,000.00 1,000,000.00 1,002,220.00 6/17/2030 1,690 16,005.56 100% FHLB 4.45 2/12/2029-3130AYXU5 US Agency I 0.72 7.49 2/15/2024 4.450 2,000,000.00 2,000,000.00 2,008,060.00 2/12/2029 1,200 19,530.56 27 100% FHLB 4.5 12/10/2029-3130B46Y2 US Agency I 0.36 3.75 12/31/2024 4.500 1,000,000.00 1,000,000.00 1,003,690.00 12/10/2029 1,501 17,625.00 26 100% FHLB 4.5 2/18/2028-26 3130B4YH8 US Agency I 0.36 3.75 2/26/2025 4.500 1,000,000.00 1,000,000.00 1,001,210.00 2/18/2028 840 9,125.00 100% FHLB 4.65 1/14/2030-3130B4LS8 US Agency I 0.36 3.75 1/14/2025 4.650 1,000,000.00 1,000,000.00 1,010,340.00 1/14/2030 1,536 13,820.83 28 100% 55 Asset % of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest FHLB 4.75 9/8/2028 3130AXEL8 US Agency I 0.36 3.75 10/3/2023 4.762 1,000,000.00 999,500.00 1,029,030.00 9/8/2028 1,043 6,993.06 100 % FHLB 5.04 4/23/2029-3130B14L8 US Agency I 0.33 3.37 4/25/2024 5.040 900,000.00 900,000.00 908,784.00 4/23/2029 1,270 1,008.00 27 100 % FHLB Step 11/24/2026-3130APTV7 US Agency I 0.18 1.87 11/24/2021 1.489 500,000.00 499,500.00 490,820.00 11/24/2026 389 4,361.11 22 100% FHLB Step 3/30/2026 3130ALV92 US Agency I 0.18 1.87 3/30/2021 0.938 500,000.00 500,000.00 494,325.00 3/30/2026 150 437.50 100 % Sub Total / Average 9.65 100.00 3.197 26,700,000.00 26,680,622.10 26,589,411.00 986 146,338.51 FHLB Bond FHLMC Bond FHLMC 0.55 3134GXGZ1 US Agency I 0.18 25.00 12/30/2020 0.550 500,000.00 500,000.00 497,325.00 12/30/2025 60 916.67 12/30/2025 100 % FHLMC 0.7 12/30/2026-3134GWUQ7 US Agency I 0.36 50.00 2/10/2022 1.870 1,000,000.00 945,570.00 966,040.00 12/30/2026 425 583.33 21 100 % FHLMC 0.8 10/28/2026-3134GW6C5 US Agency I 0.18 25.00 1/5/2022 1.404 500,000.00 486,000.00 485,655.00 10/28/2026 362 33.33 21 100 % Sub Total / Average 0.72 100.00 1.423 2,000,000.00 1,931,570.00 1,949,020.00 318 1,533.33 FHLMC Bond FNMA Bond FNMA 0.5 11nt2025 3135G06G3 US Agency I 0.36 11.11 12/7/2021 1.120 1,000,000.00 976,300.00 999,600.00 11nt2025 7 2,416.67 100 % FNMA 0.5 11/7/2025 3135G06G3 US Agency I 0.36 11.11 8/29/2024 4.170 1,000,000.00 957,850.00 999,600.00 11/7/2025 7 2,416.67 100 % FNMA 0.56 11/17/2025-3135GA2Z3 US Agency I 0.18 5.56 11/17/2020 0.591 500,000.00 499,250.00 499,345.00 11/17/2025 17 1,275.56 22 100 % FNMA 0.6 12/23/2025-3135GA7D7 US Agency I 0.18 5.56 12/23/2020 0.600 500,000.00 500,000.00 497,680.00 12/23/2025 53 1,066.67 21 100 % FNMA 4 5/6/2030-27 3136GAGH6 US Agency I 0.36 11.11 5/6/2025 4.000 1,000,000.00 1,000,000.00 1,000,800.00 5/6/2030 1,648 19,444.44 100 % FNMA 4.125 3/12/2030-3136GACD9 US Agency I 0.36 11.11 3/12/2025 4.375 1,000,000.00 988,880.00 998,530.00 3/12/2030 1,593 5,614.58 26 100 % FNMA 4.125 7/16/2030-3136GAKH1 US Agency I 0.36 11.11 7/25/2025 4.126 1,000,000.00 999,950.00 1,004,760.00 7/16/2030 1,719 11,802.08 27 100 % FNMA 4.15 7/28/2028-3136GAKZ1 US Agency I 0.36 11.11 7/31/2025 4.150 1,000,000.00 1,000,000.00 1,003,750.00 7/28/2028 1,001 10,375.00 26 100 % FNMA 4.25 4/8/2030-27 3136GAF20 US Agency I 0.36 11.11 4/9/2025 4.250 1,000,000.00 1,000,000.00 1,005,990.00 4/8/2030 1,620 2,715.28 100 % FNMA 4.5 5/20/2030-26 3136GAHF9 US Agency I 0.36 11.11 5/28/2025 4.500 1,000,000.00 1,000,000.00 1,003,290.00 5/20/2030 1,662 19,125.00 100 % Sub Total / Average 3.25 100.00 3.476 9,000,000.00 8,922,230.00 9,013,345.00 1,032 76,251.95 FNMA Bond Guaranteed Investment Contract CAMP TERM 4.07 CAMPTERM62526 Investment 10.84 100.00 7/3/2025 4.070 30,000,000.00 30,000,000.00 30,000,000.00 6/25/2026 237 401,424.66 6/25/2026 Pools 56 Asset % of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Sub Total / Average Guaranteed 10.84 100.00 4.070 30,000,000.00 30,000,000.00 30,000,000.00 237 401,424.66 Investment Contract Local Government Investment Pool CAMP LGIP CAMP7001 Investment 9.47 48.65 3/31/2024 4.260 26,212,567.33 26,212,567.33 26,212,567.33 N/A Pools LAIF I City LGIP CITYLAIF3434 Investment 9.17 47.12 2/28/2024 4.150 25,387,781.93 25,387,781.93 25,443,164.94 N/A Pools LAIF I Housing LGIP HOUSINGLAIF3005 Investment 0.82 4.22 2/28/2024 4.150 2,276,240.49 2,276,240.49 2,281,206.07 N/A Pools Sub Total / Average Local Government 19.47 100.00 4.204 53,876,589.75 53,876,589.75 53,936,938.34 1 0.00 Investment Pool Money Market BMO Bank I Operating Money Market BMO18510P Mutual Funds I 2.24 40.74 3/31/2024 3.940 6,198,464.97 6,198,464.97 6,198,464.97 N/A MM 20% Trusts Not OPEB Trust MM OPEBTRUST Subject to 0.84 15.29 3/31/2024 0.860 2,326,100.47 2,326,100.47 2,326,100.47 N/A Policy PARS Pension Trust Trusts Not PARSTRUST Subject to 2.33 42.33 3/31/2024 0.910 6,439,490.76 6,439,490.76 6,439,490.76 N/A MM Policy US Bank I Custodian Money Market USB3000 Mutual Funds I 0.08 1.40 3/31/2024 3.960 212,911.04 212,911.04 212,911.04 N/A MM 20 % US Bank I Fiscal Agent Money Market USB4000-6000 Mutual Funds I 0.01 0.24 3/31/2024 3.570 36,034.73 36,034.73 36,034.73 N/A MM 20% Sub Total / Average 5.50 100.00 2.186 15,213,001.97 15,213,001.97 15,213,001.97 1 0.00 Money Market Negotiable Certificate Of Deposit Advantage Credit Union 00790UAE7 Certificate of 0.09 0.67 7/31/2024 4.450 249,000.00 249,000.00 253,917.75 7/31/2028 1,004 0.00 IA 4.45 7/31/2028 Deposits I 30 % Affinity Bank, NA GA 00833JAQ4 Certificate of 0.09 0.66 3/17/2023 4.900 248,000.00 248,000.00 254,827.44 3/17/2028 868 466.10 4.9 3/17/2028 Deposits I 30 % Alabama Credit Union 5 01025RAG4 Certificate of 0.09 0.66 6/20/2023 5.000 248,000.00 248,000.00 250,028.64 6/22/2026 234 373.70 6/22/2026 Deposits I 30 % All In FCU AL 4.4 01664MAB2 Certificate of 0.09 0.66 12/20/2022 4.400 248,000.00 248,000.00 251,645.60 12/20/2027 780 328.85 12/20/2027 Deposits I 30 % Alliant Credit Union IL 5 01882MAC6 Certificate of 0.09 0.66 12/30/2022 5.000 247,000.00 247,000.00 253,750.51 12/30/2027 790 33.84 12/30/2027 Deposits I 30 % Altaone FCU CA 4.45 02157RAA5 Certificate of 0.09 0.67 7/19/2024 4.450 249,000.00 249,000.00 255,147.81 7/19/2029 1,357 910.73 7/19/2029 Deposits I 30 % Amerant Bank, NA FL 02357QAQ0 Certificate of 0.09 0.66 2/14/2022 1.600 245,000.00 245,000.00 238,652.05 2/16/2027 473 837.70 1.6 2/16/2027 Deposits I 30 % American Express Nat'I 02589ADH2 Certificate of 0.09 0.66 8/29/2022 3.450 245,000.00 245,000.00 244,000.40 7/27/2027 634 2,223.12 Bank 3.45 7/27/2027 Deposits I 30 % 57 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Austin Telco FCU TX 052392BT3 Certificate of 0.09 0.66 9/21/2022 3.800 248,000.00 248,000.00 248,553.04 9/21/2027 690 774.58 3.8 9/21/2027 Deposits I 30 % Balboa Thrift & Loan 05765LBU0 Certificate of 0.09 0.66 7/19/2023 4.400 248,000.00 248,000.00 257,907.60 7/19/2028 992 358.75 4.4 7/19/2028 Deposits I 30 % Ballston Spa Nat'I Bank 058723AQ0 Certificate of 0.09 0.66 5/24/2024 4.800 248,000.00 248,000.00 250,941.28 11/24/2026 389 228.30 NY 4.8 11/24/2026 Deposits I 30 % Bank Five Nine WI 4.25 062119BT8 Certificate of 0.09 0.66 5/12/2023 4.250 248,000.00 248,000.00 251,335.60 5/12/2028 924 548.66 5/12/2028 Deposits I 30 % Bank of America 5.2 06051XEF5 Certificate of 0.09 0.65 6/6/2024 5.200 243,000.00 243,000.00 243,311.04 12/8/2025 38 5,089.02 12/8/2025 Deposits I 30 % Bank of the Sierra CA 064860MC0 Certificate of 0.09 0.65 3/15/2023 4.600 244,000.00 244,000.00 247,010.96 3/15/2027 500 1,414.53 4.6 3/15/2027 Deposits I 30 % Bankers Bank WI 4.15 06610RCA5 Certificate of 0.09 0.66 5/24/2023 4.150 248,000.00 248,000.00 250,765.20 5/24/2028 936 197.38 5/24/2028 Deposits I 30 % BankFirst Norfolk NE 06644QAC5 Certificate of 0.09 0.66 6/21/2024 4.500 248,000.00 248,000.00 254,445.52 6/21/2029 1,329 305.75 4.5 6/21/2029 Deposits I 30 % Baxter Credit Union IL 07181JBH6 Certificate of 0.09 0.66 8/22/2024 4.350 248,000.00 248,000.00 252,297.84 8/22/2028 1,026 266.01 4.35 8/22/2028 Deposits I 30 % Beal Bank TX 1.9 07371AYE7 Certificate of 0.09 0.66 2/23/2022 1.900 245,000.00 245,000.00 239,561.00 2/17/2027 474 879.99 2/17/2027 Deposits I 30 % Beal Bank USA NV 1.9 07371CE88 Certificate of 0.09 0.66 2/23/2022 1.900 245,000.00 245,000.00 239,561.00 2/17/2027 474 879.99 2/17/2027 Deposits I 30 % Blue Ridge Bank, NA 09582YAF9 Certificate of 0.09 0.65 2/28/2023 4.200 244,000.00 244,000.00 246,671.80 2/28/2028 850 1,796.91 VA 4.2 2/28/2028 Deposits I 30 % BMW Bank North 05612LFA5 Certificate of 0.09 0.65 5/23/2025 4.000 244,000.00 244,000.00 245,442.04 11/23/2027 753 4,305.10 America 4 11/23/2027 Deposits I 30 % BNY Mellon, NA PA 4.5 05584CJJ6 Certificate of 0.09 0.65 9nt2023 4.500 244,000.00 244,000.00 249,221.60 9nt2028 1,042 1,624.44 9/7/2028 Deposits I 30 % BOM Bank LA 4.1 09776DAV6 Certificate of 0.09 0.66 6/24/2025 4.100 248,000.00 248,000.00 251,712.56 6/24/2030 1,697 195.00 6/24/2030 Deposits I 30 % Bridgewater Bank MN 108622NJ6 Certificate of 0.09 0.66 3/29/2023 4.850 248,000.00 248,000.00 252,027.52 3/29/2027 514 65.91 4.85 3/29/2027 Deposits I 30 % Capital One, NA 1.1 14042RQB0 Certificate of 0.09 0.66 11/17/2021 1.100 248,000.00 248,000.00 241,524.72 11/17/2026 382 1,248.15 11/17/2026 Deposits I 30 % Carter Bank & Trust 146102AS7 Certificate of 0.09 0.66 7/5/2024 4.550 248,000.00 248,000.00 254,916.72 7/5/2029 1,343 803.79 4.55 7/5/2029 Deposits I 30 % Carter FCU LA 0.75 14622LAA0 Certificate of 0.09 0.66 4/27/2021 0.750 248,000.00 248,000.00 244,642.08 4/27/2026 178 20.38 4/27/2026 Deposits I 30 % Celtic Bank UT 3.65 15118RR33 Certificate of 0.09 0.66 9/26/2024 3.650 248,000.00 248,000.00 247,117.12 9/26/2029 1,426 124.00 9/26/2029 Deposits I 30 % Central Bank AK 4 152577BN1 Certificate of 0.09 0.66 5/12/2023 4.000 248,000.00 248,000.00 249,840.16 5/12/2028 924 516.38 5/12/2028 Deposits I 30 % cfsbank PA 4.7 12526AAM9 Certificate of 0.09 0.65 5/30/2024 4.700 244,000.00 244,000.00 248,826.32 11/30/2027 760 4,807.13 11/30/2027 Deposits I 30 % Chartway FCU VA 4.9 16141BAC5 Certificate of 0.09 0.66 6/9/2023 4.900 248,000.00 248,000.00 249,728.56 6/9/2026 221 732.45 6/9/2026 Deposits I 30 % CIBC Bank USA IL 4.35 12547CBJ6 Certificate of 0.09 0.65 5/16/2023 4.350 244,000.00 244,000.00 247,764.92 5/16/2028 928 4,885.35 5/16/2028 Deposits I 30 % 58 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Civic FCU 3.65 178808AF8 Certificate of 0.09 0.66 9/26/2025 3.650 248,000.00 248,000.00 247,650.32 9/26/2028 1,061 124.00 9/26/2028 Deposits I 30 % Comenity Capital Bank 20033A3A2 Certificate of 0.09 0.66 4/14/2022 2.650 248,000.00 248,000.00 244,431.28 4/14/2027 530 306.09 UT 2.65 4/14/2027 Deposits I 30 % ConnectOne Bank NJ 20786ADL6 Certificate of 0.09 0.66 9/24/2021 0.800 248,000.00 248,000.00 241,703.28 9/24/2026 328 38.05 0.8 9/24/2026 Deposits I 30 % Connexus Credit Union 20825WAR1 Certificate of 0.09 0.67 12/23/2021 1.250 249,000.00 249,000.00 242,304.39 12/23/2026 418 0.00 WI 1.25 12/23/2026 Deposits I 30 % Cornerstone Comm. 21923MAB7 Certificate of 0.09 0.66 9/30/2024 3.700 248,000.00 248,000.00 247,580.88 10/1/2029 1,431 25.14 FCU NY 3.7 10/1/2029 Deposits I 30 % County Schools FCU 22258JAB7 Certificate of 0.09 0.66 9/30/2022 4.400 248,000.00 248,000.00 251,303.36 9/30/2027 699 29.90 CA 4.4 9/30/2027 Deposits I 30 % Covantage Credit Union 22282XAD2 Certificate of 0.09 0.66 8/6/2024 4.200 247,000.00 247,000.00 250,267.81 8nt2028 1,011 2,444.28 WI 4.2 8/7/2028 Deposits I 30 % Credit Human FCU 3.6 22537MAH0 Certificate of 0.09 0.66 9/29/2025 3.600 248,000.00 248,000.00 247,305.60 9/29/2028 1,064 48.92 9/29/2028 Deposits I 30 % Cross River Bank NJ 227563GC1 Certificate of 0.09 0.65 4/26/2024 4.500 244,000.00 244,000.00 246,879.20 4/26/2027 542 150.41 4.5 4/26/2027 Deposits I 30 % Customers Bank PA 4.5 23204HPB8 Certificate of 0.09 0.65 6/14/2023 4.500 244,000.00 244,000.00 248,792.16 6/14/2028 957 4,181.42 6/14/2028 Deposits I 30 % Cy-Fair FCU TX 4.5 23248UAB3 Certificate of 0.09 0.66 5/12/2023 4.500 248,000.00 248,000.00 252,831.04 5/12/2028 924 580.93 5/12/2028 Deposits I 30 % Direct FCU MA 4.8 25460FDW3 Certificate of 0.09 0.66 11m2022 4.800 248,000.00 248,000.00 253,423.76 11/8/2027 738 782.73 11/8/2027 Deposits I 30 % Dort Financial Credit Certificate of Union Ml 4.5 25844MAK4 Deposits I 30 % 0.09 0.66 12/16/2022 4.500 247,000.00 247,000.00 251,122.43 12/16/2027 776 913.56 12/16/2027 EagleBank MD 4.05 27002YHQ2 Certificate of 0.09 0.66 4/16/2025 4.050 248,000.00 248,000.00 251,052.88 4/16/2030 1,628 412.77 4/16/2030 Deposits I 30 % Eaglemark Savings 27004PCM3 Certificate of 0.09 0.66 3/2/2022 2.000 245,000.00 245,000.00 239,720.25 3/2/2027 487 792.05 Bank NV 2 3/2/2027 Deposits I 30 % Empower FCU NY 5.25 291916AJ3 Certificate of 0.09 0.66 11/15/2023 5.250 247,000.00 247,000.00 257,976.68 11/15/2028 1,111 746.08 11/15/2028 Deposits I 30 % Enterprise Bank PA 4.6 29367RND4 Certificate of 0.09 0.66 6/7/2024 4.600 248,000.00 248,000.00 255,229.20 6nt2029 1,315 750.12 6/7/2029 Deposits I 30 % EverBank, NA f/k/a Certificate of TIAA FSB 0.5 87270LDL4 Deposits I 30 % 0.09 0.66 2/12/2021 0.500 245,000.00 245,000.00 242,650.45 2/12/2026 104 268.49 2/12/2026 Evergreen Bank Group 300185LM5 Certificate of 0.09 0.66 1/27/2023 3.850 248,000.00 248,000.00 248,245.52 7/27/2026 269 104.64 IL 3.85 7/27/2026 Deposits I 30 % Fahey Banking 303117DN2 Certificate of 0.09 0.66 2/28/2025 4.200 248,000.00 248,000.00 250,323.76 8/30/2027 668 85.61 Company 4.2 8/30/2027 Deposits I 30 % Farmers & Merchants Certificate of Bank of Colby 4.4 30781JBU3 0.09 0.66 7/5/2024 4.400 248,000.00 248,000.00 253,642.00 7/5/2029 1,343 777.29 7/5/2029 Deposits I 30 % Fidelity Bank LA 0.7 31617CAV5 Certificate of 0.09 0.66 4/30/2021 0.700 248,000.00 248,000.00 244,284.96 4/30/2026 181 0.00 4/30/2026 Deposits I 30 % Fieldpoint Private B&T 31657FBA4 Certificate of 0.09 0.66 9/4/2024 4.000 248,000.00 248,000.00 248,632.40 9/4/2026 308 733.81 CT 4 9/4/2026 Deposits I 30 % 59 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest First Bank Elk River MN 31911KAK4 Certificate of 0.09 0.66 6/30/2023 4.400 248,000.00 248,000.00 256,374.96 6/30/2028 973 29.90 4.4 6/30/2028 Deposits I 30 % First Bank NJ 4.45 319137CB9 Certificate of 0.09 0.65 12/28/2023 4.450 244,000.00 244,000.00 244,183.00 12/26/2025 56 3,718.49 12/26/2025 Deposits I 30 % First Federal Savings IN 32021YEV1 Certificate of 0.09 0.66 2/9/2024 4.250 248,000.00 248,000.00 248,890.32 7/9/2026 251 635.29 4.25 7/9/2026 Deposits I 30 % First Nat'I Bank of Certificate of America Ml 3.75 32110YQ24 0.09 0.66 10/30/2024 3.750 248,000.00 248,000.00 248,374.48 10/30/2028 1,095 25.48 10/30/2028 Deposits I 30 % First Service CU f/k/a Certificate of SPCOTX4.35 78472EAB0 0.09 0.67 1/20/2023 4.350 249,000.00 249,000.00 252,520.86 1/20/2028 811 326.43 1/20/2028 Deposits I 30 % Forbright Bank MD 4.6 34520LAT0 Certificate of 0.09 0.66 11/2/2022 4.600 248,000.00 248,000.00 252,397.04 11/2/2027 732 906.39 11/2/2027 Deposits I 30 % Four Points FCU 4.55 35089LAF0 Certificate of 0.09 0.66 5/10/2023 4.550 248,000.00 248,000.00 249,041.60 5/11/2026 192 649.22 5/11/2026 Deposits I 30 % Genesee Regional Certificate of Bank NY 4.2 37173RAL7 Deposits I 30 % 0.09 0.65 12/27/2023 4.200 244,000.00 244,000.00 245,488.40 12/28/2026 423 3,537.67 12/28/2026 Global FCU f/k/a Alaska 011852AE0 Certificate of 0.09 0.66 3/8/2023 4.600 248,000.00 248,000.00 253,086.48 3/8/2028 859 718.86 USA AK 4.6 3/8/2028 Deposits I 30 % Golden State Bank CA 38120MCA2 Certificate of 0.09 0.67 6/22/2023 4.450 249,000.00 249,000.00 252,080.13 6/22/2027 599 273.22 4.45 6/22/2027 Deposits I 30 % Goldman Sachs Bank 38149MXK4 Certificate of 0.09 0.66 7/28/2021 1.000 248,000.00 248,000.00 242,948.24 7/28/2026 270 645.48 USA 1 7/28/2026 Deposits I 30 % Greenstate Credit 39573LBC1 Certificate of 0.09 0.67 4/16/2021 0.950 249,000.00 249,000.00 245,810.31 4/16/2026 167 194.42 Union IA 0.95 4/16/2026 Deposits I 30 % Gulf Coast Bank New Certificate of Orleans LA 3.6 402194GQ1 Deposits I 30 % 0.09 0.66 10/29/2025 3.600 245,000.00 245,000.00 243,358.50 10/29/2030 1,824 48.33 10/29/2030 Healthcare Systems 42228LAN1 Certificate of 0.09 0.66 10/27/2023 5.100 248,000.00 248,000.00 257,786.08 10/27/2028 1,092 138.61 FCU VA 5.1 10/27/2028 Deposits I 30 % Ideal Credit Union MN 45157PAZ3 Certificate of 0.09 0.66 12/29/2022 4.500 248,000.00 248,000.00 252,218.48 12/29/2027 789 917.26 4.5 12/29/2027 Deposits I 30 % Inst. for Savings Certificate of Newburyport MA 3.65 45780PDK8 Deposits I 30 % 0.09 0.66 10/28/2025 3.650 248,000.00 248,000.00 246,916.24 10/28/2030 1,823 74.40 10/28/2030 Jeep Country FCU OH 472312AA5 Certificate of 0.09 0.66 6/29/2023 4.700 248,000.00 248,000.00 252,099.44 6/29/2027 606 63.87 4.7 6/29/2027 Deposits I 30 % Knoxville TVA Certificate of Employees Credit 499724AP7 Deposits I 30 % 0.09 0.66 8/25/2023 4.850 248,000.00 248,000.00 255,640.88 8/25/2028 1,029 988.60 Union 4.85 8/25/202 Lafayette FCU MD 4.1 50625LCA9 Certificate of 0.09 0.66 3/28/2025 4.100 248,000.00 248,000.00 250,983.44 3/28/2029 1,244 83.57 3/28/2029 Deposits I 30 % Latino Community Certificate of Credit Union NC 4.5 51828MAC8 Deposits I 30 % 0.09 0.66 12/21/2022 4.500 248,000.00 248,000.00 252,158.96 12/21/2027 781 305.75 12/21/2027 Leaders Credit Union 52171MAM7 Certificate of 0.09 0.66 10/30/2023 5.100 248,000.00 248,000.00 257,865.44 10/30/2028 1,095 34.65 TN 5.1 10/30/2028 Deposits I 30 % Legacy Bank & Trust 52470QEC4 Certificate of 0.09 0.66 9/27/2023 4.500 248,000.00 248,000.00 253,446.08 9/27/2028 1,062 122.30 Co. MO 4.5 9/27/2028 Deposits I 30 % 60 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Legends Bank TN 3. 75 52465JKL0 Certificate of 0.09 0.66 9/11/2024 3.750 248,000.00 248,000.00 248,332.32 9/11/2028 1,046 509.59 9/11/2028 Deposits I 30 % Liberty First Credit 530520AH8 Certificate of 0.09 0.66 2/21/2023 4.500 248,000.00 248,000.00 252,436.72 2/22/2028 844 917.26 Union NE 4.5 2/22/2028 Deposits I 30 % Maine Community Bank 560390DC7 Certificate of 0.09 0.66 8/30/2024 3.750 248,000.00 248,000.00 248,322.40 8/30/2027 668 25.48 3.75 8/30/2027 Deposits I 30 % Maine Savings FCU 4.8 560507AQ8 Certificate of 0.09 0.66 7/21/2023 4.800 248,000.00 248,000.00 255,072.96 7/21/2028 994 326.14 7/21/2028 Deposits I 30 % Malaga Bank, FSB CA 56102ACC8 Certificate of 0.09 0.66 10/24/2025 3.600 248,000.00 248,000.00 246,355.76 10/24/2030 1,819 171.22 3.6 10/24/2030 Deposits I 30 % Marathon Bank WI 1.8 565819AG4 Certificate of 0.09 0.66 3/16/2022 1.800 248,000.00 248,000.00 241,800.00 3/16/2027 501 183.45 3/16/2027 Deposits I 30 % Marine FCU NC 4 56824JBC7 Certificate of 0.09 0.66 8/30/2024 4.000 248,000.00 248,000.00 248,647.28 8/31/2026 304 27.18 8/31/2026 Deposits I 30 % Medallion Bank UT 4.85 58404DTP6 Certificate of 0.09 0.66 10/20/2023 4.850 248,000.00 248,000.00 259,623.76 10/20/2028 1,085 362.49 10/20/2028 Deposits I 30 % Merrick Bank UT 1.1 59013KPN0 Certificate of 0.09 0.67 11/9/2021 1.100 249,000.00 249,000.00 242,613.15 11/9/2026 374 165.09 11/9/2026 Deposits I 30 % Metro Credit Union MA 59161YAP1 Certificate of 0.09 0.67 2/18/2022 1.700 249,000.00 249,000.00 242,779.98 2/18/2027 475 347.92 1 . 7 2/18/2027 Deposits I 30 % Mid Carolina Credit Certificate of Union SC 4.85 59524LAA4 0.09 0.66 3/13/2023 4.850 248,000.00 248,000.00 249,044.08 3/13/2026 133 593.16 3/13/2026 Deposits I 30 % Milestone Bk f/k/a LCA 501798RP9 Certificate of 0.09 0.66 12/27/2021 1.000 248,000.00 248,000.00 243,674.88 6/26/2026 238 856.11 UT 1 6/26/2026 Deposits I 30 % Minnwest Bank MN 60425SKB4 Certificate of 0.09 0.66 5/1/2023 4.250 248,000.00 248,000.00 250,108.00 5/3/2027 549 866.30 4.25 5/3/2027 Deposits I 30 % Money One FCU MD 5 60936TAL3 Certificate of 0.09 0.66 9/14/2023 5.000 248,000.00 248,000.00 256,759.36 9/14/2028 1,049 577.53 9/14/2028 Deposits I 30 % Morgan Stanley Bank, 61690DT40 Certificate of 0.09 0.65 3/5/2025 4.250 244,000.00 244,000.00 248,833.64 3/5/2030 1,586 1,591.01 NA 4.25 3/5/2030 Deposits I 30 % Morgan Stanley Private 61776NMT7 Certificate of 0.09 0.65 3/5/2025 4.250 244,000.00 244,000.00 248,833.64 3/5/2030 1,586 1,591.01 Bank 4.25 3/5/2030 Deposits I 30 % Mountain American 62384RAT3 Certificate of 0.09 0.66 4/28/2023 4.700 248,000.00 248,000.00 249,143.28 4/28/2026 179 958.03 FCU 4.7 4/28/2026 Deposits I 30 % MVB Bank, Inc. WV 62847NEP7 Certificate of 0.09 0.66 8/1/2024 4.050 248,000.00 248,000.00 249,946.80 2/1/2028 823 825.53 4.05 2/1/2028 Deposits I 30 % Nelnet Bank UT 1.8 64034KAZ4 Certificate of 0.09 0.66 3/2/2022 1.800 245,000.00 245,000.00 243,331.55 3/2/2026 122 712.85 3/2/2026 Deposits I 30 % Northpointe Bank Ml 666613MK7 Certificate of 0.09 0.66 10/20/2023 4.850 248,000.00 248,000.00 255,985.60 10/20/2028 1,085 362.49 4.85 10/20/2028 Deposits I 30 % Numerica CU 4.15 67054NBT9 Certificate of 0.09 0.66 11/26/2024 4.150 248,000.00 248,000.00 251,717.52 11/26/2029 1,487 140.99 11/26/2029 Deposits I 30 % Oklahoma Educators 67885MAE0 Certificate of 0.09 0.66 10/3/2025 3.650 248,000.00 248,000.00 247,868.56 10/4/2027 703 694.40 cu 3.65 10/4/2027 Deposits I 30 % Opium Bank, Inc UT 4 68405VDD8 Certificate of 0.09 0.66 4/28/2025 4.000 245,000.00 245,000.00 247,538.20 4/29/2030 1,641 80.55 4/29/2030 Deposits I 30 % Oregon Community 68584JAT6 Certificate of 0.09 0.66 6n/2024 4.850 248,000.00 248,000.00 252,533.44 6nl2027 584 790.88 Credit Union 4.85 Deposits I 30 % 61 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest 6/7/2027 Pacific Crest Savings 69417ADA4 Certificate of 0.09 0.66 8/16/2024 3.900 248,000.00 248,000.00 249,376.40 8/16/2029 1,385 397.48 Bank WA 3.9 8/16/2029 Deposits I 30 % Parkside Financial B&T 70147AGA6 Certificate of 0.09 0.66 9/13/2024 3.750 248,000.00 248,000.00 248,332.32 9/13/2028 1,048 458.63 MO 3.75 9/13/2028 Deposits I 30 % Partners Bank of Certificate of California 4.15 70212YBY7 0.09 0.65 2/27/2025 4.150 244,000.00 244,000.00 245,930.04 8/27/2027 665 1,803.26 8/27/2027 Deposits I 30 % Peoples Exchange 71104AAS2 Certificate of 0.09 0.66 8/9/2024 4.150 248,000.00 248,000.00 250,016.24 8/9/2027 647 620.34 Bank KY 4.15 8/9/2027 Deposits I 30 % Ponce Bank NY 3.5 732329BD8 Certificate of 0.09 0.66 9/15/2022 3.500 248,000.00 248,000.00 247,203.92 9/15/2027 684 380.49 9/15/2027 Deposits I 30 % Prevail Bank WI 4.25 887171AB2 Certificate of 0.09 0.67 7/24/2024 4.250 249,000.00 249,000.00 252,005.43 1/24/2028 815 202.95 1/24/2028 Deposits I 30 % RiverWood Bank MN 76951DBZ2 Certificate of 0.09 0.66 9/11/2024 3.850 248,000.00 248,000.00 248,602.64 3/11/2027 496 523.18 3.85 3/11/2027 Deposits I 30 % Rize FCU f/k/a SCE CA 78413RAV9 Certificate of 0.09 0.66 6/20/2024 4.700 248,000.00 248,000.00 256,124.48 6/20/2029 1,328 351.28 4.7 6/20/2029 Deposits I 30 % Rockland FCU MA 4.6 77357DAD0 Certificate of 0.09 0.66 12/22/2023 4.600 248,000.00 248,000.00 250,594.08 12/22/2026 417 281.29 12/22/2026 Deposits I 30 % Safra Nat'I Bank NY 24773RCR4 Certificate of 0.09 0.66 3/9/2022 2.000 245,000.00 245,000.00 239,786.40 2/25/2027 482 698.08 f/k/a/ Delta Nat'I 2 2 Deposits I 30 % Sallie Mae Bank UT 1 795451AF0 Certificate of 0.09 0.66 7/28/2021 1.000 248,000.00 248,000.00 243,079.68 7/28/2026 270 645.48 7/28/2026 Deposits I 30 % San Francisco FCU CA 79772FAG1 Certificate of 0.09 0.66 2/3/2023 4.350 248,000.00 248,000.00 251,556.32 2/3/2028 825 827.57 4.35 2/3/2028 Deposits I 30 % Signature FCU VA 4.4 82671DAB3 Certificate of 0.09 0.66 1/31/2023 4.400 248,000.00 248,000.00 251,844.00 1/31/2028 822 0.00 1/31/2028 Deposits I 30 % Simmons Bank f/k/a Certificate of Landmark Comm. 0.5 51507LCC6 Deposits I 30 % 0.09 0.66 1/22/2021 0.500 248,000.00 248,000.00 246,095.36 1/22/2026 83 30.58 1/22/2026 SkyOne FCU CA 3.9 83088XAR9 Certificate of 0.09 0.66 10/25/2024 3.900 248,000.00 248,000.00 249,376.40 10/25/2028 1,090 158.99 10/25/2028 Deposits I 30 % SNB Bank, NA OK 4.1 78470MBS6 Certificate of 0.09 0.66 8/14/2024 4.100 248,000.00 248,000.00 250,631.28 8/14/2028 1,018 473.58 8/14/2028 Deposits I 30 % Sound Credit Union WA 83616HAH7 Certificate of 0.09 0.66 6/2/2025 4.150 248,000.00 248,000.00 250,785.04 6/2/2028 945 817.72 4.15 6/2/2028 Deposits I 30 % Southern Bank GA 4.25 84229LBA9 Certificate of 0.09 0.65 10/28/2022 4.250 244,000.00 244,000.00 244,236.68 1/28/2026 89 85.23 1/28/2026 Deposits I 30 % Southern Bank MO 4.2 843383CS7 Certificate of 0.09 0.66 5/17/2023 4.200 248,000.00 248,000.00 251,050.40 5/17/2028 929 399.52 5/17/2028 Deposits I 30 % Southern Bank of TN 84229QAC5 Certificate of 0.09 0.66 7/12/2024 4.350 248,000.00 248,000.00 253,232.80 7/12/2029 1,350 561.57 4.35 7/12/2029 Deposits I 30 % Southern States Bank 843879GS0 Certificate of 0.09 0.66 3/21/2025 4.150 248,000.00 248,000.00 249,011.84 9/21/2026 325 281.97 4.15 9/21/2026 Deposits I 30 % St. Vincent's Medical Certificate of Center FCU 4.6 85279AAC6 0.09 0.66 6/16/2023 4.600 248,000.00 248,000.00 251,623.28 6/16/2027 593 468.82 6/16/2027 Deposits I 30 % 62 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Stearns Bank, NA MN 857894051 Certificate of 0.09 0.65 8/8/2024 4.200 244,000.00 244,000.00 246,113.04 8/9/2027 647 2,358.44 4.2 8/9/2027 Deposits I 30 % Sunwest Bank 3.55 86804DDGO Certificate of 0.09 0.66 9/30/2024 3.550 248,000.00 248,000.00 246,231.76 9/28/2029 1,428 24.12 9/28/2029 Deposits I 30 % Synchrony Bank 0.9 87165ET98 Certificate of 0.09 0.66 9/3/2021 0.900 245,000.00 245,000.00 239,421.35 9/3/2026 307 362.47 9/3/2026 Deposits I 30 % Technology Credit 87868YAQ6 Certificate of 0.09 0.66 5/30/2023 5.000 248,000.00 248,000.00 249,807.92 5/29/2026 210 1,019.18 Union CA 5 5/29/2026 Deposits I 30 % Texas Exchange Bank 88241TSW1 Certificate of 0.09 0.66 9/6/2024 3.700 248,000.00 248,000.00 247,595.76 9/6/2029 1,406 628.49 3.7 9/6/2029 Deposits I 30 % The Genoa Banking Co. 372348DJ8 Certificate of 0.09 0.66 11/28/2023 4.600 248,000.00 248,000.00 254,423.20 11/28/2028 1,124 93.76 4.6 11/28/2028 Deposits I 30 % The Greenwood's State 397417AQ9 Certificate of 0.09 0.66 5/17/2022 3.050 248,000.00 248,000.00 245,693.60 5/17/2027 563 290.13 Bank WI 3.05 5/17/2027 Deposits I 30 % The Pitney Bowes Certificate of Bank, Inc UT 4.35 724468AC7 Deposits I 30 % 0.09 0.65 4/14/2023 4.350 244,000.00 244,000.00 247,786.88 4/13/2028 895 494.35 4/13/2028 Third Federal Savings & 88413QDN5 Certificate of 0.09 0.66 8/19/2022 3.300 245,000.00 245,000.00 243,329.10 8/19/2027 657 1,617.00 Loan 3.3 8/19/2027 Deposits I 30 % Toyota Financial Certificate of Savings Bank NV 0.9 89235MKY6 Deposits I 30 % 0.09 0.66 4/22/2021 0.900 245,000.00 245,000.00 241,702.30 4/22/2026 173 54.37 4/22/2026 True Sky FCU 1.6 89786MAF1 Certificate of 0.09 0.66 2/4/2022 1.600 245,000.00 245,000.00 238,769.65 2/4/2027 461 945.10 2/4/2027 Deposits I 30 % Truliant FCU NC 4.7 89789AAG2 Certificate of 0.09 0.66 3/10/2023 4.700 248,000.00 248,000.00 252,548.32 9/10/2027 679 670.62 9/10/2027 Deposits I 30 % Tuscon FCU AZ 5 898812AC6 Certificate of 0.09 0.66 9/8/2023 5.000 248,000.00 248,000.00 256,714.72 9/8/2028 1,043 781.37 9/8/2028 Deposits I 30 % UBS Bank USA UT 4.9 90355GHG4 Certificate of 0.09 0.66 10/25/2023 4.900 248,000.00 248,000.00 256,370.00 10/25/2028 1,090 199.76 10/25/2028 Deposits I 30 % United Fidelity Bank, 910286GN7 Certificate of 0.09 0.66 6/29/2023 4.500 248,000.00 248,000.00 256,940.40 6/29/2028 972 61.15 fsb IN 4.5 6/29/2028 Deposits I 30 % United Roosevelt Certificate of Savings Bank NJ 1.9 91139LAB2 Deposits I 30 % 0.09 0.66 3/11/2022 1.900 248,000.00 248,000.00 242,191.84 3/11/2027 496 258.19 3/11/2027 United Teletech FCU NJ 913065ADO Certificate of 0.09 0.66 11/8/2023 5.100 248,000.00 248,000.00 254,839.84 11/8/2027 738 797.00 5.1 11/8/2027 Deposits I 30 % University Bank Ml 4.2 914098DJ4 Certificate of 0.09 0.67 11/30/2022 4.200 249,000.00 249,000.00 251,579.64 11/30/2027 760 28.65 11/30/2027 Deposits I 30 % Univest Bank & Trust 91527PBY2 Certificate of 0.09 0.66 5/12/2023 4.350 248,000.00 248,000.00 251,933.28 5/12/2028 924 561.57 Co. PA 4.35 5/12/2028 Deposits I 30 % USAlliance Financial 90352RDB8 Certificate of 0.09 0.66 5/26/2023 4.550 248,000.00 248,000.00 253,198.08 5/26/2028 938 154.58 FCU NY 4.55 5/26/2028 Deposits I 30 % Utah First FCU 5 91739JAB1 Certificate of 0.09 0.66 7/21/2023 5.000 245,000.00 245,000.00 253,254.05 7/21/2028 994 335.62 7/21/2028 Deposits I 30 % Valley National Bank NJ 919853LV1 Certificate of 0.09 0.65 5/29/2024 4.950 244,000.00 244,000.00 245,566.48 5/29/2026 210 5,129.01 4.95 5/29/2026 Deposits I 30 % Valleystar Credit Union 92023CAJ2 Certificate of 0.09 0.66 11/8/2023 5.200 247,000.00 247,000.00 257,534.55 11/8/2028 1,104 809.35 VA 5.2 11/8/2028 Deposits I 30 % 63 Asset % of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Vibrant Credit Union IL 92559TAJ7 Certificate of 0.09 0.67 7/2/2021 0.851 249,000.00 248,377.50 244,231.65 6/30/2026 242 163.73 0.8 6/30/2026 Deposits I 30 % VisionBank MN 4.05 92834ABT2 Certificate of 0.09 0.66 5/12/2023 4.050 248,000.00 248,000.00 250,137.76 5/12/2028 924 522.84 5/12/2028 Deposits I 30 % VyStar Credit Union FL 92891CCZ3 Certificate of 0.09 0.66 3/10/2023 4.550 248,000.00 248,000.00 252,826.08 3/10/2028 861 927.45 4.55 3/10/2028 Deposits I 30 % washington Financial 93883MBA5 Certificate of 0.09 0.65 5/31/2024 4.500 244,000.00 244,000.00 250,156.12 5/31/2029 1,308 4,602.58 Bank PA 4.5 5/31/2029 Deposits I 30 % Workers FCU MA 5.2 98138MCA6 Certificate of 0.09 0.66 10/30/2023 5.200 248,000.00 248,000.00 258,569.76 10/30/2028 1,095 35.33 10/30/2028 Deposits I 30 % Sub Total / Average Negotiable Certificate 13.49 100.00 3.831 37,332,000.00 37,331,377.50 37,649,384.41 789 114,047.35 Of Deposit Treasury Note T-Note 0.375 1/31/2026 91282CBH3 US Treasury I 0.18 0.69 2/23/2021 0.577 500,000.00 495,100.00 495,760.00 1/31/2026 92 468.75 100 % T-Note 0.375 91282CAZ4 US Treasury I 0.18 0.69 4/22/2021 0.720 500,000.00 492,187.50 498,655.00 11/30/2025 30 783.81 11/30/2025 100% T-Note 0.375 91282CBC4 US Treasury I 0.18 0.69 1/7/2021 0.431 500,000.00 498,632.81 497,180.00 12/31/2025 61 626.70 12/31/2025 100 % T-Note 0.5 2/28/2026 91282CBQ3 US Treasury I 0.18 0.69 5/28/2021 0.750 500,000.00 494,165.00 494,530.00 2/28/2026 120 421.27 100 % T-Note 0.5 2/28/2026 91282CBQ3 US Treasury I 0.27 1.04 3/23/2022 2.353 750,000.00 698,025.00 741,795.00 2/28/2026 120 631.91 100% T-Note 0.625 7/31/2026 91282CCP4 US Treasury I 0.36 1.39 9/29/2021 0.970 1,000,000.00 983,750.00 977,070.00 7/31/2026 273 1,562.50 100 % T-Note 0.75 3/31/2026 91282CBT7 US Treasury I 0.18 0.69 5/28/2021 0.770 500,000.00 499,525.00 493,850.00 3/31/2026 151 319.37 100% T-Note 0.75 3/31/2026 91282CBT7 US Treasury I 0.18 0.69 6/17/2021 0.816 500,000.00 498,450.00 493,850.00 3/31/2026 151 319.37 100% T-Note 0.75 5/31/2026 91282CCF6 US Treasury I 0.36 1.39 6/1/2021 0.810 1,000,000.00 997,060.00 982,790.00 5/31/2026 212 3,135.25 100 % T-Note 0.75 5/31/2026 91282CCF6 US Treasury I 0.18 0.69 6/17/2021 0.870 500,000.00 497,095.00 491,395.00 5/31/2026 212 1,567.62 100% T-Note 0.75 8/31/2026 91282CCW9 US Treasury I 0.36 1.39 9/29/2021 0.990 1,000,000.00 988,500.00 975,790.00 8/31/2026 304 1,263.81 100 % T-Note 0.75 8/31/2026 91282CCW9 US Treasury I 0.18 0.69 3/22/2022 2.350 500,000.00 466,454.17 487,895.00 8/31/2026 304 631.91 100 % T-Note 1.125 91282CDG3 US Treasury I 0.18 0.69 3/22/2022 2.350 500,000.00 473,396.82 487,365.00 10/31/2026 365 0.00 10/31/2026 100% T-Note 1.5 1/31/2027 912828278 US Treasury I 0.36 1.39 2/10/2022 1.781 1,000,000.00 986,700.00 973,480.00 1/31/2027 457 3,750.00 100 % T-Note 1.875 7/31/2026 912828Y95 US Treasury I 0.36 1.39 8/29/2024 3.876 1,000,000.00 963,281.25 986,210.00 7/31/2026 273 4,687.50 100 % T-Note 2.25 8/15/2027 9128282RO US Treasury I 0.36 1.39 11/18/2022 3.950 1,000,000.00 927,110.00 976,560.00 8/15/2027 653 4,707.88 100% T-Note 2.375 4/30/2026 9128286S4 US Treasury I 0.36 1.39 3/23/2022 2.400 1,000,000.00 999,010.00 992,980.00 4/30/2026 181 0.00 100 % 64 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest T-Note 2.375 5/15/2027 912828X88 US Treasury I 0.36 1.39 6n/2022 3.041 1,000,000.00 969,687.50 981,210.00 5/15/2027 561 10,906.93 100 % T-Note 2.5 3/31/2027 91282CEF4 US Treasury I 0.36 1.39 5/3/2022 3.010 1,000,000.00 976,860.00 984,140.00 3/31/2027 516 2,129.12 100% T-Note 2.625 2/15/2029 9128286B1 US Treasury I 0.36 1.39 2/15/2024 4.286 1,000,000.00 925,976.56 969,340.00 2/15/2029 1,203 5,492.53 100 % T-Note 2.625 5/31/2027 91282CET4 US Treasury I 0.18 0.69 6/8/2022 2.980 500,000.00 491,842.18 492,245.00 5/31/2027 577 5,486.68 100 % T-Note 2.625 5/31/2027 91282CET4 US Treasury I 0.36 1.39 8/29/2024 3.720 1,000,000.00 971,555.99 984,490.00 5/31/2027 577 10,973.36 100 % T-Note 2.75 4/30/2027 91282CEN7 US Treasury I 0.18 0.69 6/8/2022 2.971 500,000.00 495,000.00 493,575.00 4/30/2027 546 0.00 100 % T-Note 2.75 7/31/2027 91282CFB2 US Treasury I 0.36 1.39 8/15/2022 2.980 1,000,000.00 989,460.00 985,310.00 7/31/2027 638 6,875.00 100 % T-Note 2.75 7/31/2027 91282CFB2 US Treasury I 0.36 1.39 8/29/2022 3.200 1,000,000.00 979,645.67 985,310.00 7/31/2027 638 6,875.00 100 % T-Note 2.875 4/30/2029 91282CEM9 US Treasury I 0.36 1.39 4/30/2024 4.658 1,000,000.00 921,300.00 975,310.00 4/30/2029 1,277 0.00 100 % T-Note 3.125 9128285M8 US Treasury I 0.36 1.39 12/29/2023 3.880 1,000,000.00 966,718.75 986,210.00 11/15/2028 1,111 14,351.22 11/15/2028 100% T-Note 3.125 8/31/2027 91282CFH9 US Treasury I 0.18 0.69 1/24/2023 3.640 500,000.00 489,175.00 495,725.00 8/31/2027 669 2,632.94 100 % T-Note 3.25 6/30/2027 91282CEW7 US Treasury I 0.36 1.39 2/15/2023 4.075 1,000,000.00 967,220.00 994,020.00 6/30/2027 607 10,862.77 100 % T-Note 3.5 1/31/2028 91282CGH8 US Treasury I 0.36 1.39 2/2/2023 3.580 1,000,000.00 996,369.14 997,970.00 1/31/2028 822 8,750.00 100 % T-Note 3.5 1/31/2028 91282CGH8 US Treasury I 0.36 1.39 8/29/2024 3.680 1,000,000.00 994,257.81 997,970.00 1/31/2028 822 8,750.00 100 % T-Note 3.5 1/31/2030 91282CGJ4 US Treasury I 0.36 1.39 1/13/2025 4.531 1,000,000.00 953,900.00 993,090.00 1/31/2030 1,553 8,750.00 100 % T-Note 3.5 4/30/2028 91282CHA2 US Treasury I 0.36 1.39 5/31/2023 3.837 1,000,000.00 985,000.00 997,730.00 4/30/2028 912 0.00 100 % T-Note 3.5 4/30/2028 91282CHA2 US Treasury I 0.36 1.39 7/19/2024 4.145 1,000,000.00 977,600.00 997,730.00 4/30/2028 912 0.00 100 % T-Note 3.5 9/30/2029 91282CLN9 US Treasury I 0.36 1.39 9/30/2024 3.510 1,000,000.00 999,530.00 994,260.00 9/30/2029 1,430 2,980.77 100% T-Note 3.625 91282CPD7 US Treasury I 0.72 2.78 10/31/2025 3.616 2,000,000.00 2,000,781.25 1,992,660.00 10/31/2030 1,826 0.00 10/31/2030 100 % T-Note 3.625 3/31/2028 91282CGT2 US Treasury I 0.36 1.39 5/31/2023 3.853 1,000,000.00 990,000.00 1,000,740.00 3/31/2028 882 3,087.23 100 % T-Note 3.625 3/31/2028 91282CGT2 US Treasury I 0.36 1.39 6/15/2023 3.980 1,000,000.00 984,600.00 1,000,740.00 3/31/2028 882 3,087.23 100 % T-Note 3.625 3/31/2028 91282CGT2 US Treasury I 0.36 1.39 10/19/2023 4.910 1,000,000.00 949,180.00 1,000,740.00 3/31/2028 882 3,087.23 100 % T-Note 3.625 5/31/2028 91282CHE4 US Treasury I 0.36 1.39 3/19/2025 4.013 1,000,000.00 988,400.00 1,000,740.00 5/31/2028 943 15,153.69 100% T-Note 3.625 8/31/2029 91282CLK5 US Treasury I 0.72 2.78 9/3/2024 3.627 2,000,000.00 1,999,843.75 1,997,580.00 8/31/2029 1,400 12,216.85 100 % 65 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest T-Note 3.625 8/31/2030 91282CNX5 US Treasury I 0.72 2.78 9/10/2025 3.584 2,000,000.00 2,003,687.70 1,992,960.00 8/31/2030 1,765 12,216.85 100% T-Note 3.625 9/30/2030 91282CPA3 US Treasury I 0.72 2.78 9/30/2025 3.695 2,000,000.00 1,993,671.85 1,992,500.00 9/30/2030 1,795 6,174.45 100% T-Note 3.75 12/31/2028 91282CJR3 US Treasury I 0.36 1.39 1/2/2024 3.815 1,000,000.00 997,067.49 1,003,870.00 12/31/2028 1,157 12,533.97 100% T-Note 3.75 12/31/2028 91282CJR3 US Treasury I 0.36 1.39 6/12/2024 4.480 1,000,000.00 970,230.00 1,003,870.00 12/31/2028 1,157 12,533.97 100% T-Note 3.75 4/15/2028 91282CMW8 US Treasury I 0.36 1.39 4/15/2025 3.760 1,000,000.00 999,726.56 1,003,440.00 4/15/2028 897 1,648.35 100% T-Note 3.75 5/31/2030 91282CHF1 US Treasury I 0.36 1.39 5/15/2025 4.150 1,000,000.00 981,940.00 1,002,270.00 5/31/2030 1,673 15,676.23 100% T-Note 3.75 6/30/2030 91282CHJ3 US Treasury I 0.36 1.39 6/17/2025 4.040 1,000,000.00 986,890.00 1,002,030.00 6/30/2030 1,703 12,533.97 100% T-Note 3.875 91282CFY2 US Treasury I 0.36 1.39 11/21/2024 4.271 1,000,000.00 982,265.63 1,007,810.00 11/30/2029 1,491 16,198.77 11/30/2029 100% T-Note 3.875 4/30/2030 91282CMZ1 US Treasury I 0.36 1.39 5/5/2025 3.900 1,000,000.00 998,867.19 1,007,700.00 4/30/2030 1,642 0.00 100% T-Note 3.875 7/15/2028 91282CNM9 US Treasury I 0.36 1.39 7/31/2025 3.835 1,000,000.00 1,001,090.00 1,006,950.00 7/15/2028 988 11,372.28 100% T-Note 3.875 7/31/2030 91282CNN7 US Treasury I 0.36 1.39 7/31/2025 3.960 1,000,000.00 996,170.01 1,007,460.00 7/31/2030 1,734 9,687.50 100% T-Note 3.875 9/30/2029 91282CFLO US Treasury I 0.36 1.39 10/8/2024 3.875 1,000,000.00 1,000,000.00 1,007,810.00 9/30/2029 1,430 3,300.14 100% T-Note 4 1/15/2027 91282CJT9 US Treasury I 0.36 1.39 1/31/2024 4.115 1,000,000.00 996,813.45 1,003,520.00 1/15/2027 441 11,739.13 100% T-Note 4 10/31/2029 91282CFT3 US Treasury I 0.36 1.39 10/31/2024 4.110 1,000,000.00 995,070.00 1,012,420.00 10/31/2029 1,461 0.00 100% T-Note 4 2/28/2030 91282CGQ8 US Treasury I 0.72 2.78 2/26/2025 4.140 2,000,000.00 1,987,440.00 2,025,460.00 2/28/2030 1,581 13,480.66 100% T-Note 4 3/31/2030 91282CMU2 US Treasury I 0.36 1.39 4/1/2025 3.950 1,000,000.00 1,002,265.63 1,012,660.00 3/31/2030 1,612 3,406.59 100% T-Note 4 5/31/2030 91282CNG2 US Treasury I 0.36 1.39 6/2/2025 4.060 1,000,000.00 997,304.69 1,013,010.00 5/31/2030 1,673 16,685.08 100% T-Note 4 7/31/2029 91282CLC3 US Treasury I 0.36 1.39 7/31/2024 4.134 1,000,000.00 994,000.00 1,012,030.00 7/31/2029 1,369 10,000.00 100% T-Note 4 7/31/2030 91282CHR5 US Treasury I 0.36 1.39 7/8/2025 3.965 1,000,000.00 1,001,560.00 1,012,660.00 7/31/2030 1,734 10,000.00 100% T-Note 4.125 91282CFUO US Treasury I 0.27 1.04 11/6/2023 4.524 750,000.00 739,200.00 757,500.00 10/31/2027 730 0.00 10/31/2027 100% T-Note 4.125 91282CFUO US Treasury I 0.36 1.39 5/31/2024 4.675 1,000,000.00 982,790.00 1,010,000.00 10/31/2027 730 0.00 10/31/2027 100% T-Note 4.125 91282CMA6 US Treasury I 0.36 1.39 12/2/2024 4.180 1,000,000.00 997,539.06 1,017,110.00 11/30/2029 1,491 17,243.85 11/30/2029 100% T-Note 4.125 3/31/2029 91282CKG5 US Treasury I 0.36 1.39 4/1/2024 4.210 1,000,000.00 996,200.00 1,015,700.00 3/31/2029 1,247 3,513.05 100% T-Note 4.125 6/15/2026 91282CHH7 US Treasury I 0.36 1.39 2/26/2025 4.091 1,000,000.00 1,000,380.00 1,002,350.00 6/15/2026 227 15,553.28 100% 66 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest T-Note 4.125 9/30/2027 91282CFM8 US Treasury I 0.36 1.39 7/30/2024 4.150 1,000,000.00 999,210.00 1,009,410.00 9/30/2027 699 3,513.05 100 % T-Note 4.25 1/31/2026 91282CJV4 US Treasury I 0.36 1.39 1/31/2024 4.330 1,000,000.00 998,482.98 1,000,790.00 1/31/2026 92 10,625.00 100% T-Note 4.25 1/31/2030 91282CMG3 US Treasury I 0.36 1.39 1/31/2025 4.330 1,000,000.00 996,437.79 1,022,230.00 1/31/2030 1,553 10,625.00 100 % T-Note 4.25 6/30/2029 91282CKX8 US Treasury I 0.72 2.78 7/1/2024 4.290 2,000,000.00 1,996,433.38 2,041,260.00 6/30/2029 1,338 28,410.33 100 % T-Note 4.375 91282CMDO US Treasury I 0.54 2.08 12/31/2024 4.425 1,500,000.00 1,496,700.00 1,540,260.00 12/31/2029 1,522 21,934.44 12/31/2029 100 % T-Note 4.5 5/31/2029 91282CKT7 US Treasury I 0.72 2.78 5/31/2024 4.540 2,000,000.00 1,996,484.38 2,057,120.00 5/31/2029 1,308 37,622.95 100 % Sub Total / Average 26.02 100.00 3.589 72,000,000.00 71,008,263.94 71,950,150.00 1,032 495,555.09 Treasury Note ---Total / Average 100 3.656 276,751,914.34 275,487,815.83 277,078, 178.34 642 1,505,032.13 67 --.. AIJFOR. IA -- City of La Quinta Investment Portfolio Quarterly Investment Report November 30, 2025 COMPLIANCE I I certify that this report accurately reflects all pooled investments and is in compliance with the California Government Code and the City Investment Policy. As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the City's expenditure requirements for the next six months. The City of La Quinta used the monthly account statements issued by our financial institutions to determine the fair market value of investments at month end. Portfolio Name Face Amount/Shares CAMP 56,300,834.96 CERBT OPEB Trust 2,326,100.47 Fiscal Agent -Debt Service 36,144.50 Fixed Income Investments 174,032,000.00 Housing Authority -LQPR 232,821.41 Housing Authority -DPME 1,427,403.65 Housing Authority -LAIF 2,276,240.49 LAIF 25,387,781.93 Money Market at Custodian 1,926,534.60 Operating Funds 4,538,934.99 PARS Pension Trust 6,472,832.45 Total / Average 274,957,629.45 Claudia Martinez, Finance Director/City Treasurer Market Value 56,300,834.96 2,326,100.47 36,144.50 174,625,778.60 232,821.41 1,427,403.65 2,281,206.07 25,443,164.94 1,926,534.60 4,538,934.99 6,472,832.45 275,611,756.64 3/26/2025 Date Book Value 56,300,834.96 2,326,100.47 36,144.50 173,481,540.49 232,821.41 1,427,403.65 2,276,240.49 25,387,781.93 1,926,534.60 4,538,934.99 6,472,832.45 274,407,169.94 % of Portfolio YTM@Cost 20.52 4.08 0.85 0.60 0.01 3.44 63.22 3.61 0.08 0.00 0.52 0.00 0.83 4.10 9.25 4.10 0.70 3.85 1.65 3.81 2.36 0.57 100.00 3.64 Days To Maturity 111 1 1 961 1 1 1 1 1 1 1 630 68 City of La Quinta I CA Portfolio Holdings Compliance Report I Investment Policy -by Issuer Report Format: By Transaction Group By: Security Type Average By: Face Amount/ Shares Portfolio / Report Group: All Portfolios As of 11/30/2025 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Cash Checking I BMO Bank I LQ Palms LQPR1935 Savings I 0.08 14.00 3/31/2024 0.000 232,821.41 232,821.41 232,821.41 N/A Realty Cash Sweep Accounts Checking I BMO Suntrust I Dune DPME4 7 41-3599 Savings I 0.52 85.81 3/31/2024 0.000 1,427,403.65 1,427,403.65 1,427,403.65 NIA Palms Cash Sweep Accounts Checking I City of La Quinta Cash PETTYCASH Savings I 0.00 0.20 3/31/2024 0.000 3,300.00 3,300.00 3,300.00 N/A Sweep Accounts Sub Total / Average 0.61 100.00 0.000 1,663,525.06 1,663,525.06 1,663,525.06 1 0.00 Cash Corporate Bond Alphabet, Inc 4.1 02079KAW7 Corporate 0.36 28.57 11/26/2025 3.844 1,000,000.00 1,011,470.00 1,008,630.00 11/15/2030 1,811 2,733.33 11/15/2030 Notes I 30 % Blackrock Funding Inc 09290DAA9 Corporate 0.36 28.57 3/28/2024 4.623 1,000,000.00 1,003,380.00 1,024,430.00 3/14/2029 1,200 9,922.22 4.7 3/14/2029-29 Notes 130 % International Finance 45950VPS9 Corporate 0.18 14.29 2/26/2021 0.610 500,000.00 497,300.00 495,610.00 2/26/2026 88 652.78 Corp 0.5 2/26/2026 Notes 130 % Walmart Inc 3.7 931142EE9 Corporate 0.36 28.57 6/26/2023 4.303 1,000,000.00 973,110.00 1,002,560.00 6/26/2028 939 15,827.78 6/26/2028-28 Notes I 30 % Sub Total / Average 1.27 100.00 3.735 3,500,000.00 3,485,260.00 3,531,230.00 1,141 29,136.11 Corporate Bond FFCB Bond FFCB 0. 71 8/10/2026-3133EM2C5 US Agency I 0.18 1.89 8/10/2021 0.792 500,000.00 498,000.00 489,475.00 8/10/2026 253 1,084.72 23 100 % FFCB 0.8 9/10/2026 3133EM4X7 US Agency I 0.36 3.77 9/28/2021 0.985 1,000,000.00 991,080.00 977,670.00 9/10/2026 284 1,777.78 100 % FFCB 1.27 11/2/2026 3133ENCQ1 US Agency I 0.36 3.77 11/2/2021 1.270 1,000,000.00 1,000,000.00 977,550.00 11/2/2026 337 987.78 100% FFCB 3.375 9/15/2027 3133ENL99 US Agency I 0.36 3.77 9/15/2022 3.430 1,000,000.00 997,492.55 996,510.00 9/15/2027 654 7,031.25 100 % FFCB 3.5 9/10/2029 3133ERSP7 US Agency I 0.36 3.77 9/18/2024 3.470 1,000,000.00 1,001,350.00 995,730.00 9/10/2029 1,380 7,777.78 100% 69 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIPITicker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest FFCB 3.75 12/7/2027 3133EN3S7 US Agency I 0.36 3.77 12/7/2022 3.794 1,000,000.00 998,000.00 1,005,100.00 12/7/2027 737 18,020.83 100 % FFCB 3.75 8/14/2028 3133ETTJ6 US Agency I 0.36 3.77 8/14/2025 3.721 1,000,000.00 1,000,810.00 1,006,760.00 8/14/2028 988 11,041.67 100 % FFCB 3.75 8/15/2029 3133ERPS4 US Agency I 0.36 3.77 8/15/2024 3.800 1,000,000.00 997,742.00 1,004,570.00 8/15/2029 1,354 10,937.50 100 % FFCB 3.875 1/18/2029 3133EPW84 US Agency I 0.36 3.77 1/18/2024 4.051 1,000,000.00 992,100.00 1,011,620.00 1/18/2029 1,145 14,208.33 100 % FFCB 3.875 1/18/2029 3133EPW84 US Agency I 0.36 3.77 1/30/2024 4.000 1,000,000.00 994,400.00 1,011,620.00 1/18/2029 1,145 14,208.33 100% FFCB 3.875 10/15/2027 3133ERXJ5 US Agency I 0.36 3.77 10/15/2024 3.875 1,000,000.00 1,000,000.00 1,005,270.00 10/15/2027 684 4,843.75 100 % FFCB 3.875 12/10/2027 3133ER6Q9 US Agency I 0.36 3.77 3/19/2025 4.020 1,000,000.00 996,331.25 1,004,160.00 12/10/2027 740 18,298.61 100 % FFCB 3.875 2/14/2028 3133EPAV7 US Agency I 0.36 3.77 2/15/2023 3.977 1,000,000.00 995,400.00 1,004,440.00 2/14/2028 806 11,409.72 100 % FFCB 3.875 6/8/2028 3133EPME2 US Agency I 0.36 3.77 6/8/2023 3.915 1,000,000.00 998,190.00 1,006,630.00 6/8/2028 921 18,513.89 100 % FFCB 4 11/29/2027 3133EN3H1 US Agency I 0.36 3.77 11/29/2022 4.030 1,000,000.00 998,650.00 1,007,890.00 11/29/2027 729 111.11 100 % FFCB 4 3/18/2030 3133ER7L9 US Agency I 0.36 3.77 3/19/2025 4.080 1,000,000.00 996,415.16 1,012,120.00 3/18/2030 1,569 8,000.00 100 % FFCB 4 4/1/2030 3133ETBF3 US Agency I 0.36 3.77 4/9/2025 3.900 1,000,000.00 1,004,470.00 1,015,500.00 4/1/2030 1,583 6,555.56 100 % FFCB 4 5/1/2030 3133ETFAO US Agency I 0.36 3.77 5/1/2025 4.000 1,000,000.00 1,000,000.00 1,012,010.00 5/1/2030 1,613 3,222.22 100% FFCB 4 6/17/2030 3133ETLM7 US Agency I 0.36 3.77 6/17/2025 4.045 1,000,000.00 997,981.30 1,016,790.00 6/17/2030 1,660 18,111.11 100 % FFCB 4 9/29/2027 3133ENQ29 US Agency I 0.36 3.77 9/30/2022 4.080 1,000,000.00 996,400.00 1,006,530.00 9/29/2027 668 6,777.78 100 % FFCB 4.125 12/17/2029 3133ERL41 US Agency I 0.36 3.77 12/17/2024 4.140 1,000,000.00 999,320.00 1,016,820.00 12/17/2029 1,478 18,677.08 100 % FFCB 4.125 2/13/2029 3133EP3B9 US Agency I 0.36 3.77 2/14/2024 4.318 1,000,000.00 991,400.00 1,017,790.00 2/13/2029 1,171 12,260.42 100 % FFCB 4.25 7/17/2028 3133EPQDO US Agency I 0.36 3.77 7/31/2023 4.280 1,000,000.00 998,655.69 1,015,930.00 7/17/2028 960 15,701.39 100 % FFCB 4.25 817/2028 3133EPSK2 US Agency I 0.36 3.77 8/18/2023 4.467 1,000,000.00 990,400.00 1,016,490.00 817/2028 981 13,340.28 100 % FFCB 4.33 3/18/2030-3133ER7E5 US Agency I 0.36 3.77 4/23/2025 4.330 1,000,000.00 1,000,000.00 1,007,250.00 3/18/2030 1,569 8,660.00 27 100 % FFCB 4.375 4/10/2029 3133ERAK7 US Agency I 0.36 3.77 4/23/2024 4.701 1,000,000.00 985,690.00 1,026,410.00 4/10/2029 1,227 6,076.39 100 % FFCB 4.625 11/13/2028 3133EPC45 US Agency I 0.36 3.77 11/13/2023 4.630 1,000,000.00 999,770.00 1,028,430.00 11/13/2028 1,079 2,184.03 100 % Sub Total / Average 9.64 100.00 3.763 26,500,000.00 26,420,047.95 26,697,065.00 1,041 259,819.31 FFCB Bond FHLB Bond 70 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest FHLB 0.375 12/12/2025 3130AKFA9 US Agency I 0.18 1.87 12/7/2020 0.480 500,000.00 497,400.00 499,395.00 12/12/2025 12 875.00 100 % FHLB 0.51 1/14/2026-3130AKMZ6 US Agency I 0.18 1.87 1/14/2021 0.510 500,000.00 500,000.00 497,915.00 1/14/2026 45 963.33 22 100 % FHLB 0.55 1/29/2026-3130AKN28 US Agency I 0.18 1.87 1/29/2021 0.550 500,000.00 500,000.00 497,285.00 1/29/2026 60 924.31 21 100 % FHLB 0.75 6/12/2026 3130AMFS6 US Agency I 0.36 3.75 6/17/2021 0.885 1,000,000.00 993,420.00 984,200.00 6/12/2026 194 3,500.00 100 % FHLB 0.95 10/13/2026-3130APB46 US Agency I 0.36 3.75 10/13/2021 0.986 1,000,000.00 998,250.00 976,850.00 10/13/2026 317 1,240.28 23 100 % FHLB 1 9/30/2026-22 3130APBM6 US Agency I 0.36 3.75 9/30/2021 1.021 1,000,000.00 999,000.00 977,770.00 9/30/2026 304 1,666.67 100 % FHLB 1.25 12/21/2026 3130AQF65 US Agency I 0.36 3.75 12/22/2021 1.255 1,000,000.00 999,750.00 977,310.00 12/21/2026 386 5,520.83 100 % FHLB 1.5 1/27/2027-23 3130AQJR5 US Agency I 0.36 3.75 1/27/2022 1.500 1,000,000.00 1,000,000.00 975,570.00 1/27/2027 423 5,125.00 100 % FHLB 1.83 2/10/2027-3130AQSA2 US Agency I 0.36 3.75 2/10/2022 1.830 1,000,000.00 1,000,000.00 978,620.00 2/10/2027 437 5,591.67 23 100 % FHLB 2.7 4/19/2027-24 3130ARGY1 US Agency I 0.36 3.75 4/19/2022 2.700 1,000,000.00 1,000,000.00 987,360.00 4/19/2027 505 3,075.00 100 % FHLB 3.3 6/28/2027-24 3130ASDV8 US Agency I 0.11 1.12 6/28/2022 3.300 300,000.00 300,000.00 298,596.00 6/28/2027 575 4,180.00 100 % FHLB 3.5 9/13/2030 3130AF2S5 US Agency I 0.36 3.75 9/15/2025 3.580 1,000,000.00 996,370.00 995,720.00 9/13/2030 1,748 7,486.11 100 % FHLB 3.65 10/21/2030-3130B8CC4 US Agency I 0.36 3.75 10/24/2025 3.650 1,000,000.00 1,000,000.00 994,520.00 10/21/2030 1,786 3,751.39 28 100 % FHLB 4 10/5/2029-27 3130B35F6 US Agency I 0.36 3.75 10/8/2024 4.000 1,000,000.00 1,000,000.00 1,001,060.00 10/5/2029 1,405 6,111.11 100 % FHLB 4 10/9/2026 3130B3A29 US Agency I 0.36 3.75 3/19/2025 4.020 1,000,000.00 999,682.10 1,002,790.00 10/9/2026 313 5,666.67 100 % FHLB 4 7/30/2029-27 3130B7BU7 US Agency I 0.36 3.75 7/31/2025 4.000 1,000,000.00 1,000,000.00 1,004,860.00 7/30/2029 1,338 13,333.33 100 % FHLB 4.125 4/4/2030-3130B5SX7 US Agency I 0.36 3.75 4/4/2025 4.125 1,000,000.00 1,000,000.00 1,002,960.00 4/4/2030 1,586 6,416.67 27 100 % FHLB 4.125 9/14/2029 3130ATHX8 US Agency I 0.36 3.75 10/31/2024 4.125 1,000,000.00 1,000,000.00 1,019,640.00 9/14/2029 1,384 8,708.33 100 % FHLB 4.2 3/27/2030-28 3130B5K80 US Agency I 0.36 3.75 3/27/2025 4.200 1,000,000.00 1,000,000.00 1,007,540.00 3/27/2030 1,578 7,350.00 100 % FHLB 4.3 10/23/2029-3130B3ES8 US Agency I 0.36 3.75 10/30/2024 4.351 1,000,000.00 997,750.00 1,003,860.00 10/23/2029 1,423 4,419.44 26 100 % FHLB 4.3 6/17/2030-27 3130B6PN0 US Agency I 0.36 3.75 6/17/2025 4.300 1,000,000.00 1,000,000.00 1,005,230.00 6/17/2030 1,660 19,469.44 100 % FHLB 4.45 2/12/2029-3130AYXU5 US Agency I 0.73 7.49 2/15/2024 4.450 2,000,000.00 2,000,000.00 2,012,240.00 2/12/2029 1,170 26,700.00 27 100 % FHLB 4.5 12/10/2029-3130B46Y2 US Agency I 0.36 3.75 12/31/2024 4.500 1,000,000.00 1,000,000.00 1,005,810.00 12/10/2029 1,471 21,250.00 26 100 % FHLB 4.5 2/18/2028-26 3130B4YH8 US Agency I 0.36 3.75 2/26/2025 4.500 1,000,000.00 1,000,000.00 1,000,420.00 2/18/2028 810 12,750.00 100 % 71 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIPITicker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest FHLB 4.65 1 /14/2030-3130 B4LS8 US Agency I 0.36 3.75 1/14/2025 4.650 1,000,000.00 1,000,000.00 1,012,340.00 1/14/2030 1,506 17,566.67 28 100 % FHLB 4.75 9/8/2028 3130AXEL8 US Agency I 0.36 3.75 10/3/2023 4.762 1,000,000.00 999,500.00 1,031,070.00 9/8/2028 1,013 10,819.44 100 % FHLB 5.04 4/23/2029-3130 B14L8 US Agency I 0.33 3.37 4/25/2024 5.040 900,000.00 900,000.00 909,387.00 4/23/2029 1,240 4,662.00 27 100 % FHLB Step 11/24/2026-3130APTV7 US Agency I 0.18 1.87 11/24/2021 1.489 500,000.00 499,500.00 491,910.00 11/24/2026 359 166.67 22 100 % FHLB Step 3/30/2026 3130ALV92 US Agency I 0.18 1.87 3/30/2021 0.938 500,000.00 500,000.00 495,445.00 3/30/2026 120 875.00 100% Sub Total / Average 9.71 100.00 3.197 26,700,000.00 26,680,622.10 26,647,673.00 956 210,164.36 FHLB Bond FHLMC Bond FHLMC 0.55 3134G XGZ1 US Agency I 0.18 25.00 12/30/2020 0.550 500,000.00 500,000.00 498,640.00 12/30/2025 30 1,145.83 12/30/2025 100 % FHLMC 0.7 12/30/2026-3134GWUQ7 US Agency I 0.36 50.00 2/10/2022 1.870 1,000,000.00 945,570.00 969,200.00 12/30/2026 395 1,166.67 21 100 % FHLMC 0.8 10/28/2026-3134GW6C5 US Agency I 0.18 25.00 1/5/2022 1.404 500,000.00 486,000.00 487,285.00 10/28/2026 332 355.56 21 100 % Sub Total / Average 0.73 100.00 1.423 2,000,000.00 1,931,570.00 1,955, 125.00 288 2,668.06 FHLMC Bond FNMA Bond FNMA 0.6 12/23/2025-3135GA7D7 US Agency I 0.18 7.69 12/23/2020 0.600 500,000.00 500,000.00 498,970.00 12/23/2025 23 1,308.33 21 100% FNMA 4 5/6/2030-27 3136GAGH6 US Agency I 0.36 15.38 5/6/2025 4.000 1,000,000.00 1,000,000.00 1,002,470.00 5/6/2030 1,618 2,666.67 100 % FNMA4.125 3/12/2030-3136GACD9 US Agency I 0.36 15.38 3/12/2025 4.375 1,000,000.00 988,880.00 999,060.00 3/12/2030 1,563 8,937.50 26 100 % FNMA4.125 7/16/2030-3136GAKH1 US Agency I 0.36 15.38 7/25/2025 4.126 1,000,000.00 999,950.00 1,006,370.00 7/16/2030 1,689 15,125.00 27 100 % FNMA4.15 7/28/2028-3136GAKZ1 US Agency I 0.36 15.38 7/31/2025 4.150 1,000,000.00 1,000,000.00 1,003,350.00 7/28/2028 971 13,833.33 26 100 % FNMA 4.25 4/8/2030-27 3136GAF20 US Agency I 0.36 15.38 4/9/2025 4.250 1,000,000.00 1,000,000.00 1,007,120.00 4/8/2030 1,590 6,138.89 100 % FNMA 4.5 5/20/2030-26 3136GAH F9 US Agency I 0.36 15.38 5/28/2025 4.500 1,000,000.00 1,000,000.00 1,004,580.00 5/20/2030 1,632 1,250.00 100 % Sub Total / Average 2.36 100.00 3.954 6,500,000.00 6,488,830.00 6,521,920.00 1,396 49,259.72 FNMA Bond Guaranteed Investment Contract CAMP TERM 4.07 CAMPTERM62526 Investment 10.91 100.00 7/3/2025 4.070 30,000,000.00 30,000,000.00 30,000,000.00 6/25/2026 207 501,780.82 6/25/2026 Pools Sub Total / Average Guaranteed 10.91 100.00 4.070 30,000,000.00 30,000,000.00 30,000,000.00 207 501,780.82 Investment Contract Local Government Investment Pool 72 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIPITicker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest CAMP LGIP CAMP7001 Investment 9.57 48.74 3/31/2024 4.100 26,300,834.96 26,300,834.96 26,300,834.96 N/A Pools LAIF I City LGIP CITYLAIF3434 Investment 9.23 47.05 2/28/2024 4.096 25,387,781.93 25,387,781.93 25,443,164.94 N/A Pools LAIF I Housing LGIP HOUSINGLAIF3005 Investment 0.83 4.22 2/28/2024 4.096 2,276,240.49 2,276,240.49 2,281,206.07 N/A Pools Sub Total / Average Local Government 19.63 100.00 4.098 53,964,857.38 53,964,857.38 54,025,205.97 1 0.00 Investment Pool Money Market BMO Bank I Operating Money Market BMO1851OP Mutual Funds I 1.65 29.65 3/31/2024 3.810 4,535,634.99 4,535,634.99 4,535,634.99 N/A MM 20% Trusts Not OPES Trust MM OPEBTRUST Subject to 0.85 15.21 3/31/2024 0.600 2,326,100.47 2,326,100.47 2,326,100.47 N/A Policy PARS Pension Trust Trusts Not MM PARSTRUST Subject to 2.35 42.31 3/31/2024 0.570 6,472,832.45 6,472,832.45 6,472,832.45 N/A Policy US Bank I Custodian Money Market USB3000 Mutual Funds I 0.70 12.59 3/31/2024 3.850 1,926,534.60 1,926,534.60 1,926,534.60 N/A MM 20% US Bank I Fiscal Agent Money Market USB4000-6000 Mutual Funds I 0.01 0.24 3/31/2024 3.435 36,144.50 36,144.50 36,144.50 N/A MM 20% Sub Total / Average 5.56 100.00 1.955 15,297,247.01 15,297,247.01 15,297,247.01 1 0.00 Money Market Negotiable Certificate Of Deposit Advantage Credit Union 00790UAE7 Certificate of 0.09 0.67 7/31/2024 4.450 249,000.00 249,000.00 253,574.13 7/31/2028 974 0.00 IA 4.45 7/31/2028 Deposits I 30 % Affinity Bank, NA GA 4.9 00833JAQ4 Certificate of 0.09 0.66 3/17/2023 4.900 248,000.00 248,000.00 254,430.64 3/17/2028 838 432.81 3/17/2028 Deposits I 30 % Alabama Credit Union 5 01025RAG4 Certificate of 0.09 0.66 6/20/2023 5.000 248,000.00 248,000.00 249,698.80 6/22/2026 204 339.73 6/22/2026 Deposits I 30 % All In FCU AL 4.4 01664MAB2 Certificate of 0.09 0.66 12/20/2022 4.400 248,000.00 248,000.00 251,338.08 12/20/2027 750 298.96 12/20/2027 Deposits I 30 % Alliant Credit Union IL 5 01882MAC6 Certificate of 0.09 0.66 12/30/2022 5.000 247,000.00 247,000.00 253,305.91 12/30/2027 760 0.00 12/30/2027 Deposits I 30 % Altaone FCU CA 4.45 02157RAA5 Certificate of 0.09 0.67 7/19/2024 4.450 249,000.00 249,000.00 254,614.95 7/19/2029 1,327 880.37 7/19/2029 Deposits I 30 % Amerant Bank, NA FL 02357QAQ0 Certificate of 0.09 0.66 2/14/2022 1.600 245,000.00 245,000.00 238,777.00 2/16/2027 443 1,159.89 1.6 2/16/2027 Deposits I 30 % American Express Nat'I 02589ADH2 Certificate of 0.09 0.66 8/29/2022 3.450 245,000.00 245,000.00 243,797.05 7/27/2027 604 2,917.85 Bank 3.45 7/27/2027 Deposits I 30 % Austin Telco FCU TX 052392BT3 Certificate of 0.09 0.66 9/21/2022 3.800 248,000.00 248,000.00 248,322.40 9/21/2027 660 748.76 3.8 9/21/2027 Deposits I 30 % Balboa Thrift & Loan 4.4 05765LBU0 Certificate of 0.09 0.66 7/19/2023 4.400 248,000.00 248,000.00 257,448.80 7/19/2028 962 328.85 7/19/2028 Deposits I 30 % 73 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Ballston Spa Nat'I Bank 058723AQ0 Certificate of 0.09 0.66 5/24/2024 4.800 248,000.00 248,000.00 250,519.68 11/24/2026 359 195.68 NY 4.8 11/24/2026 Deposits I 30 % Bank Five Nine WI 4.25 062119BT8 Certificate of 0.09 0.66 5/12/2023 4.250 248,000.00 248,000.00 251,052.88 5/12/2028 894 519.78 5/12/2028 Deposits I 30 % Bank of America 5.2 06051XEF5 Certificate of 0.09 0.65 6/6/2024 5.200 243,000.00 243,000.00 243,087.48 12/8/2025 8 6,127.59 12/8/2025 Deposits I 30 % Bank of the Sierra CA 064860MC0 Certificate of 0.09 0.65 3/15/2023 4.600 244,000.00 244,000.00 246,586.40 3/15/2027 470 2,337.05 4.6 3/15/2027 Deposits I 30 % Bankers Bank WI 4.15 06610RCA5 Certificate of 0.09 0.66 5/24/2023 4.150 248,000.00 248,000.00 250,502.32 5/24/2028 906 169.18 5/24/2028 Deposits I 30 % BankFirst Norfolk NE 06644QAC5 Certificate of 0.09 0.66 6/21/2024 4.500 248,000.00 248,000.00 253,937.12 6/21/2029 1,299 275.18 4.5 6/21/2029 Deposits I 30 % Baxter Credit Union IL 07181JBH6 Certificate of 0.09 0.66 8/22/2024 4.350 248,000.00 248,000.00 252,007.68 8/22/2028 996 236.45 4.35 8/22/2028 Deposits I 30 % Beal Bank TX 1.9 07371AYE7 Certificate of 0.09 0.66 2/23/2022 1.900 245,000.00 245,000.00 239,632.05 2/17/2027 444 1,262.59 2/17/2027 Deposits I 30 % Beal Bank USA NV 1.9 07371CE88 Certificate of 0.09 0.66 2/23/2022 1.900 245,000.00 245,000.00 239,632.05 2/17/2027 444 1,262.59 2/17/2027 Deposits I 30 % Blue Ridge Bank, NA 09582YAF9 Certificate of 0.09 0.65 2/28/2023 4.200 244,000.00 244,000.00 246,371.68 2/28/2028 820 2,639.21 VA 4.2 2/28/2028 Deposits I 30 % BMW Bank North 05612LFA5 Certificate of 0.09 0.65 5/23/2025 4.000 244,000.00 244,000.00 245,268.80 11/23/2027 723 187.18 America 4 11/23/2027 Deposits I 30 % BNY Mellon, NA PA 4.5 05584CJJ6 Certificate of 0.09 0.65 9n/2023 4.500 244,000.00 244,000.00 248,880.00 9n/2028 1,012 2,526.90 9n/2028 Deposits I 30 % BOM Bank LA 4.1 09776DAV6 Certificate of 0.09 0.66 6/24/2025 4.100 248,000.00 248,000.00 250,730.48 6/24/2030 1,667 167.15 6/24/2030 Deposits I 30 % Bridgewater Bank MN 108622NJ6 Certificate of 0.09 0.66 3/29/2023 4.850 248,000.00 248,000.00 251,548.88 3/29/2027 484 32.95 4.85 3/29/2027 Deposits I 30 % Capital One, NA 1.1 14042RQB0 Certificate of 0.09 0.66 11/17/2021 1.100 248,000.00 248,000.00 241,760.32 11/17/2026 352 97.16 11/17/2026 Deposits I 30 % Carter Bank & Trust 146102AS7 Certificate of 0.09 0.66 7/5/2024 4.550 248,000.00 248,000.00 254,386.00 7/5/2029 1,313 772.88 4.55 7/5/2029 Deposits I 30 % Carter FCU LA 0. 75 14622LAA0 Certificate of 0.09 0.66 4/27/2021 0.750 248,000.00 248,000.00 245,081.04 4/27/2026 148 15.29 4/27/2026 Deposits I 30 % Celtic Bank UT 3.65 15118RR33 Certificate of 0.09 0.66 9/26/2024 3.650 248,000.00 248,000.00 246,636.00 9/26/2029 1,396 99.20 9/26/2029 Deposits I 30 % Central Bank AK 4 152577BN1 Certificate of 0.09 0.66 5/12/2023 4.000 248,000.00 248,000.00 249,599.60 5/12/2028 894 489.21 5/12/2028 Deposits I 30 % cfsbank PA 4.7 12526AAM9 Certificate of 0.09 0.65 5/30/2024 4.700 244,000.00 244,000.00 248,453.00 11/30/2027 730 0.00 11/30/2027 Deposits I 30 % Chartway FCU VA 4.9 16141BAC5 Certificate of 0.09 0.66 6/9/2023 4.900 248,000.00 248,000.00 249,430.96 6/9/2026 191 699.16 6/9/2026 Deposits I 30 % CIBC Bank USA IL 4.35 12547CBJ6 Certificate of 0.09 0.65 5/16/2023 4.350 244,000.00 244,000.00 247,535.56 5/16/2028 898 407.11 5/16/2028 Deposits I 30 % Civic FCU 3.65 178808AF8 Certificate of 0.09 0.66 9/26/2025 3.650 248,000.00 248,000.00 247,479.20 9/26/2028 1,031 99.20 9/26/2028 Deposits I 30 % Comenity Capital Bank 20033A3A2 Certificate of 0.09 0.66 4/14/2022 2.650 248,000.00 248,000.00 244,379.20 4/14/2027 500 288.09 UT 2.65 4/14/2027 Deposits I 30 % 74 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest ConnectOne Bank NJ 20786ADL6 Certificate of 0.09 0.66 9/24/2021 0.800 248,000.00 248,000.00 242,018.24 9/24/2026 298 32.61 0.8 9/24/2026 Deposits I 30 % Connexus Credit Union 20825WAR1 Certificate of 0.09 0.67 12/23/2021 1.250 249,000.00 249,000.00 242,508.57 12/23/2026 388 0.00 WI 1.25 12/23/2026 Deposits I 30 % Cornerstone Comm. 21923MAB7 Certificate of 0.09 0.66 9/30/2024 3.700 248,000.00 248,000.00 247,060.08 10/1/2029 1,401 0.00 FCU NY 3.7 10/1/2029 Deposits I 30 % County Schools FCU 22258JAB7 Certificate of 0.09 0.66 9/30/2022 4.400 248,000.00 248,000.00 250,941.28 9/30/2027 669 0.00 CA 4.4 9/30/2027 Deposits I 30 % Covantage Credit Union 22282XAD2 Certificate of 0.09 0.66 8/6/2024 4.200 247,000.00 247,000.00 249,978.82 8n/2028 981 682.13 WI 4.2 8n/2028 Deposits I 30 % Credit Human FCU 3.6 22537MAH0 Certificate of 0.09 0.66 9/29/2025 3.600 248,000.00 248,000.00 247,119.60 9/29/2028 1,034 24.46 9/29/2028 Deposits I 30 % Cross River Bank NJ 227563GC1 Certificate of 0.09 0.65 4/26/2024 4.500 244,000.00 244,000.00 246,469.28 4/26/2027 512 1,052.88 4.5 4/26/2027 Deposits I 30 % Customers Bank PA 4.5 23204HPB8 Certificate of 0.09 0.65 6/14/2023 4.500 244,000.00 244,000.00 248,453.00 6/14/2028 927 5,083.89 6/14/2028 Deposits I 30 % Cy-Fair FCU TX 4.5 23248UAB3 Certificate of 0.09 0.66 5/12/2023 4.500 248,000.00 248,000.00 252,506.16 5/12/2028 894 550.36 5/12/2028 Deposits I 30 % Direct FCU MA 4.8 25460FDW3 Certificate of 0.09 0.66 11m2022 4.800 248,000.00 248,000.00 253,039.36 11/8/2027 708 750.12 11/8/2027 Deposits I 30 % Dort Financial Credit Certificate of Union Ml 4.5 25844MAK4 0.09 0.66 12/16/2022 4.500 247,000.00 247,000.00 250,769.22 12/16/2027 746 1,827.12 12/16/2027 Deposits I 30 % EagleBank MD 4.05 27002YHQ2 Certificate of 0.09 0.66 4/16/2025 4.050 248,000.00 248,000.00 250,182.40 4/16/2030 1,598 385.25 4/16/2030 Deposits I 30 % Eaglemark Savings 27004PCM3 Certificate of 0.09 0.66 3/2/2022 2.000 245,000.00 245,000.00 239,769.25 3/2/2027 457 1,194.79 Bank NV 2 3/2/2027 Deposits I 30 % Empower FCU NY 5.25 291916AJ3 Certificate of 0.09 0.66 11/15/2023 5.250 247,000.00 247,000.00 257,554.31 11/15/2028 1,081 710.55 11/15/2028 Deposits I 30 % Enterprise Bank PA 4.6 29367RND4 Certificate of 0.09 0.66 6n/2024 4.600 248,000.00 248,000.00 254,723.28 6n/2029 1,285 718.86 6n/2029 Deposits I 30 % EverBank, NA f/k/a Certificate of TIAA FSB 0.5 87270LDL4 Deposits I 30 % 0.09 0.66 2/12/2021 0.500 245,000.00 245,000.00 243,260.50 2/12/2026 74 369.18 2/12/2026 Evergreen Bank Group 300185LM5 Certificate of 0.09 0.66 1/27/2023 3.850 248,000.00 248,000.00 248,081.84 7/27/2026 239 78.48 IL 3.85 7/27/2026 Deposits I 30 % Fahey Banking 303117DN2 Certificate of 0.09 0.66 2/28/2025 4.200 248,000.00 248,000.00 250,016.24 8/30/2027 638 57.07 Company 4.2 8/30/2027 Deposits I 30 % Farmers & Merchants Certificate of Bank of Colby 4.4 30781JBU3 0.09 0.66 7/5/2024 4.400 248,000.00 248,000.00 253,136.08 7/5/2029 1,313 747.40 7/5/2029 Deposits I 30 % Fidelity Bank LA 0.7 31617CAV5 Certificate of 0.09 0.66 4/30/2021 0.700 248,000.00 248,000.00 244,761.12 4/30/2026 151 0.00 4/30/2026 Deposits I 30 % Fieldpoint Private B&T 31657FBA4 Certificate of 0.09 0.66 9/4/2024 4.000 248,000.00 248,000.00 248,384.40 9/4/2026 278 706.63 CT 4 9/4/2026 Deposits I 30 % First Bank Elk River MN 31911KAK4 Certificate of 0.09 0.66 6/30/2023 4.400 248,000.00 248,000.00 255,926.08 6/30/2028 943 0.00 4.4 6/30/2028 Deposits I 30 % First Bank NJ 4.45 319137CB9 Certificate of 0.09 0.65 12/28/2023 4.450 244,000.00 244,000.00 244,107.36 12/26/2025 26 4,610.93 12/26/2025 Deposits I 30 % 75 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest First Federal Savings IN 32021YEV1 Certificate of 0.09 0.66 2/9/2024 4.250 248,000.00 248,000.00 248,677.04 7/9/2026 221 606.41 4.25 7/9/2026 Deposits I 30 % First Nat'I Bank of Certificate of America Ml 3.75 32110YQ24 Deposits I 30 % 0.09 0.66 10/30/2024 3.750 248,000.00 248,000.00 248,163.68 10/30/2028 1,065 0.00 10/30/2028 First Service CU f/k/a Certificate of SPCOTX4.35 78472EAB0 Deposits I 30 % 0.09 0.67 1/20/2023 4.350 249,000.00 249,000.00 252,222.06 1/20/2028 781 296.75 1/20/2028 Forbright Bank MD 4.6 34520LAT0 Certificate of 0.09 0.66 11/2/2022 4.600 248,000.00 248,000.00 252,044.88 11/2/2027 702 875.13 11/2/2027 Deposits I 30 % Four Points FCU 4.55 35089LAF0 Certificate of 0.09 0.66 5/10/2023 4.550 248,000.00 248,000.00 248,818.40 5/11/2026 162 618.30 5/11/2026 Deposits I 30 % Genesee Regional Certificate of Bank NY 4.2 37173RAL7 Deposits I 30 % 0.09 0.65 12/27/2023 4.200 244,000.00 244,000.00 245,151.68 12/28/2026 393 4,379.97 12/28/2026 Global FCU f/k/a Alaska 011852AE0 Certificate of 0.09 0.66 3/8/2023 4.600 248,000.00 248,000.00 252,744.24 3/8/2028 829 687.61 USA AK 4.6 3/8/2028 Deposits I 30 % Golden State Bank CA 38120MCA2 Certificate of 0.09 0.67 6/22/2023 4.450 249,000.00 249,000.00 251,711.61 6/22/2027 569 242.86 4.45 6/22/2027 Deposits I 30 % Goldman Sachs Bank 38149MXK4 Certificate of 0.09 0.66 7/28/2021 1.000 248,000.00 248,000.00 243,305.36 7/28/2026 240 849.32 USA 1 7/28/2026 Deposits I 30 % Greenstate Credit 39573LBC1 Certificate of 0.09 0.67 4/16/2021 0.950 249,000.00 249,000.00 246,268.47 4/16/2026 137 187.94 Union IA 0.95 4/16/2026 Deposits I 30 % Gulf Coast Bank New Certificate of Orleans LA 3.6 402194GQ1 0.09 0.66 10/29/2025 3.600 245,000.00 245,000.00 242,248.65 10/29/2030 1,794 773.26 10/29/2030 Deposits I 30 % Healthcare Systems 42228LAN1 Certificate of 0.09 0.66 10/27/2023 5.100 248,000.00 248,000.00 257,374.40 10/27/2028 1,062 103.96 FCU VA 5.1 10/27/2028 Deposits I 30 % Ideal Credit Union MN 45157PAZ3 Certificate of 0.09 0.66 12/29/2022 4.500 248,000.00 248,000.00 251,893.60 12/29/2027 759 886.68 4.5 12/29/2027 Deposits I 30 % Inst. for Savings Certificate of Newburyport MA 3.65 45780PDK8 Deposits I 30 % 0.09 0.66 10/28/2025 3.650 248,000.00 248,000.00 245,807.68 10/28/2030 1,793 49.60 10/28/2030 Jeep Country FCU OH 472312AA5 Certificate of 0.09 0.66 6/29/2023 4.700 248,000.00 248,000.00 251,658.00 6/29/2027 576 31.93 4.7 6/29/2027 Deposits I 30 % Knoxville TVA Certificate of Employees Credit 499724AP7 Deposits I 30 % 0.09 0.66 8/25/2023 4.850 248,000.00 248,000.00 255,263.92 8/25/2028 999 955.65 Union 4.85 8/25/202 Lafayette FCU MD 4.1 50625LCA9 Certificate of 0.09 0.66 3/28/2025 4.100 248,000.00 248,000.00 250,638.72 3/28/2029 1,214 55.72 3/28/2029 Deposits I 30 % Latino Community Certificate of Credit Union NC 4.5 51828MAC8 Deposits I 30 % 0.09 0.66 12/21/2022 4.500 248,000.00 248,000.00 251,834.08 12/21/2027 751 275.18 12/21/2027 Leaders Credit Union 52171MAM7 Certificate of 0.09 0.66 10/30/2023 5.100 248,000.00 248,000.00 257,421.52 10/30/2028 1,065 0.00 TN 5.1 10/30/2028 Deposits I 30 % Legacy Bank & Trust 52470QEC4 Certificate of 0.09 0.66 9/27/2023 4.500 248,000.00 248,000.00 253,133.60 9/27/2028 1,032 91.73 Co. MO 4.5 9/27/2028 Deposits I 30 % Legends Bank TN 3. 75 52465JKL0 Certificate of 0.09 0.66 9/11/2024 3.750 248,000.00 248,000.00 248,143.84 9/11/2028 1,016 484.11 9/11/2028 Deposits I 30 % Liberty First Credit 530520AH8 Certificate of 0.09 0.66 2/21/2023 4.500 248,000.00 248,000.00 252,109.36 2/22/2028 814 886.68 Union NE 4.5 2/22/2028 Deposits I 30 % 76 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Maine Community Bank 560390DC7 Certificate of 0.09 0.66 8/30/2024 3.750 248,000.00 248,000.00 248,069.44 8/30/2027 638 0.00 3.75 8/30/2027 Deposits I 30 % Maine Savings FCU 4.8 560507AQ8 Certificate of 0.09 0.66 7/21/2023 4.800 248,000.00 248,000.00 254,700.96 7/21/2028 964 293.52 7/21/2028 Deposits I 30 % Malaga Bank, FSB CA 56102ACC8 Certificate of 0.09 0.66 10/24/2025 3.600 248,000.00 248,000.00 245,262.08 10/24/2030 1,789 146.76 3.6 10/24/2030 Deposits I 30 % Marathon Bank WI 1.8 565819AG4 Certificate of 0.09 0.66 3/16/2022 1.800 248,000.00 248,000.00 241,901.68 3/16/2027 471 171.22 3/16/2027 Deposits I 30 % Marine FCU NC 4 56824JBC7 Certificate of 0.09 0.66 8/30/2024 4.000 248,000.00 248,000.00 248,374.48 8/31/2026 274 0.00 8/31/2026 Deposits I 30 % Medallion Bank UT 4.85 58404DTP6 Certificate of 0.09 0.66 10/20/2023 4.850 248,000.00 248,000.00 259,157.52 10/20/2028 1,055 329.53 10/20/2028 Deposits I 30 % Merrick Bank UT 1.1 59013KPN0 Certificate of 0.09 0.67 11/9/2021 1.100 249,000.00 249,000.00 242,847.21 11/9/2026 344 157.59 11/9/2026 Deposits I 30 % Metro Credit Union MA 59161YAP1 Certificate of 0.09 0.67 2/18/2022 1.700 249,000.00 249,000.00 242,901.99 2/18/2027 445 336.32 1 . 7 2/18/2027 Deposits I 30 % Mid Carolina Credit Certificate of Union SC 4.85 59524LAA4 0.09 0.66 3/13/2023 4.850 248,000.00 248,000.00 248,806.00 3/13/2026 103 560.21 3/13/2026 Deposits I 30 % Milestone Bk f/k/a LCA 501798RP9 Certificate of 0.09 0.66 12/27/2021 1.000 248,000.00 248,000.00 244,059.28 6/26/2026 208 1,059.95 UT 1 6/26/2026 Deposits I 30 % Minnwest Bank MN 60425SKB4 Certificate of 0.09 0.66 5/1/2023 4.250 248,000.00 248,000.00 249,770.72 5/3/2027 519 837.42 4.25 5/3/2027 Deposits I 30 % Money One FCU MD 5 60936TAL3 Certificate of 0.09 0.66 9/14/2023 5.000 248,000.00 248,000.00 256,360.08 9/14/2028 1,019 543.56 9/14/2028 Deposits I 30 % Morgan Stanley Bank, 61690DT40 Certificate of 0.09 0.65 3/5/2025 4.250 244,000.00 244,000.00 247,979.64 3/5/2030 1,556 2,443.34 NA 4.25 3/5/2030 Deposits I 30 % Morgan Stanley Private 61776NMT7 Certificate of 0.09 0.65 3/5/2025 4.250 244,000.00 244,000.00 247,979.64 3/5/2030 1,556 2,443.34 Bank 4.25 3/5/2030 Deposits I 30 % Mountain American 62384RAT3 Certificate of 0.09 0.66 4/28/2023 4.700 248,000.00 248,000.00 248,895.28 4/28/2026 149 926.09 FCU 4. 7 4/28/2026 Deposits I 30 % MVB Bank, Inc. WV 62847NEP7 Certificate of 0.09 0.66 8/1/2024 4.050 248,000.00 248,000.00 249,698.80 2/1/2028 793 798.02 4.05 2/1/2028 Deposits I 30 % Nelnet Bank UT 1.8 64034KAZ4 Certificate of 0.09 0.66 3/2/2022 1.800 245,000.00 245,000.00 243,674.55 3/2/2026 92 1,075.32 3/2/2026 Deposits I 30 % Northpointe Bank Ml 666613MK7 Certificate of 0.09 0.66 10/20/2023 4.850 248,000.00 248,000.00 255,616.08 10/20/2028 1,055 329.53 4.85 10/20/2028 Deposits I 30 % Numerica CU 4.15 67054NBT9 Certificate of 0.09 0.66 11/26/2024 4.150 248,000.00 248,000.00 251,030.56 11/26/2029 1,457 112.79 11/26/2029 Deposits I 30 % Oklahoma Educators 67885MAE0 Certificate of 0.09 0.66 10/3/2025 3.650 248,000.00 248,000.00 247,670.16 10/4/2027 673 669.60 cu 3.65 10/4/2027 Deposits I 30 % Opium Bank, Inc UT 4 68405VDD8 Certificate of 0.09 0.66 4/28/2025 4.000 245,000.00 245,000.00 246,639.05 4/29/2030 1,611 886.03 4/29/2030 Deposits I 30 % Oregon Community Certificate of Credit Union 4.85 68584JAT6 Deposits I 30 % 0.09 0.66 6n/2024 4.850 248,000.00 248,000.00 252,094.48 6nl2027 554 757.93 6nl2027 Pacific Crest Savings 69417ADA4 Certificate of 0.09 0.66 8/16/2024 3.900 248,000.00 248,000.00 248,905.20 8/16/2029 1,355 370.98 Bank WA 3.9 8/16/2029 Deposits I 30 % 77 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Parkside Financial B&T 70147AGA6 Certificate of 0.09 0.66 9/13/2024 3.750 248,000.00 248,000.00 248,143.84 9/13/2028 1,018 433.15 MO 3.75 9/13/2028 Deposits I 30 % Partners Bank of Certificate of California 4.15 70212YBY7 Deposits I 30 % 0.09 0.65 2/27/2025 4.150 244,000.00 244,000.00 245,607.96 8/27/2027 635 2,635.53 8/27/2027 Peoples Exchange 71104AAS2 Certificate of 0.09 0.66 8/9/2024 4.150 248,000.00 248,000.00 249,713.68 8/9/2027 617 592.14 Bank KY 4.15 8/9/2027 Deposits I 30 % Ponce Bank NY 3.5 732329BD8 Certificate of 0.09 0.66 9/15/2022 3.500 248,000.00 248,000.00 247,027.84 9/15/2027 654 356.71 9/15/2027 Deposits I 30 % Prevail Bank WI 4.25 887171AB2 Certificate of 0.09 0.67 7/24/2024 4.250 249,000.00 249,000.00 251,721.57 1/24/2028 785 173.96 1/24/2028 Deposits I 30 % Riverwood Bank MN 76951DBZ2 Certificate of 0.09 0.66 9/11/2024 3.850 248,000.00 248,000.00 248,337.28 3/11/2027 466 497.02 3.85 3/11/2027 Deposits I 30 % Rize FCU f/k/a SCE CA 78413RAV9 Certificate of 0.09 0.66 6/20/2024 4.700 248,000.00 248,000.00 255,586.32 6/20/2029 1,298 319.34 4.7 6/20/2029 Deposits I 30 % Rockland FCU MA 4.6 77357DAD0 Certificate of 0.09 0.66 12/22/2023 4.600 248,000.00 248,000.00 250,204.72 12/22/2026 387 250.04 12/22/2026 Deposits I 30 % Safra Nat'I Bank NY 24773RCR4 Certificate of 0.09 0.66 3/9/2022 2.000 245,000.00 245,000.00 239,837.85 2/25/2027 452 1,100.82 f/k/a/ Delta Nat'I 2 2 Deposits I 30 % Sallie Mae Bank UT 1 795451AF0 Certificate of 0.09 0.66 7/28/2021 1.000 248,000.00 248,000.00 243,421.92 7/28/2026 240 849.32 7/28/2026 Deposits I 30 % San Francisco FCU CA 79772FAG1 Certificate of 0.09 0.66 2/3/2023 4.350 248,000.00 248,000.00 251,258.72 2/3/2028 795 798.02 4.35 2/3/2028 Deposits I 30 % Signature FCU VA 4.4 82671DAB3 Certificate of 0.09 0.66 1/31/2023 4.400 248,000.00 248,000.00 251,504.24 1/31/2028 792 0.00 1/31/2028 Deposits I 30 % Simmons Bank f/k/a Certificate of Landmark Comm. 0.5 51507LCC6 0.09 0.66 1/22/2021 0.500 248,000.00 248,000.00 246,750.08 1/22/2026 53 27.18 1/22/2026 Deposits I 30 % SkyOne FCU CA 3.9 83088XAR9 Certificate of 0.09 0.66 10/25/2024 3.900 248,000.00 248,000.00 249,165.60 10/25/2028 1,060 132.49 10/25/2028 Deposits I 30 % SNB Bank, NA OK 4.1 78470MBS6 Certificate of 0.09 0.66 8/14/2024 4.100 248,000.00 248,000.00 250,380.80 8/14/2028 988 445.72 8/14/2028 Deposits I 30 % Sound Credit Union WA 83616HAH7 Certificate of 0.09 0.66 6/2/2025 4.150 248,000.00 248,000.00 250,522.16 6/2/2028 915 789.52 4.15 6/2/2028 Deposits I 30 % Southern Bank GA 4.25 84229LBA9 Certificate of 0.09 0.65 10/28/2022 4.250 244,000.00 244,000.00 244,156.16 1/28/2026 59 937.56 1/28/2026 Deposits I 30 % Southern Bank MO 4.2 843383CS7 Certificate of 0.09 0.66 5/17/2023 4.200 248,000.00 248,000.00 250,777.60 5/17/2028 899 370.98 5/17/2028 Deposits I 30 % Southern Bank of TN 84229QAC5 Certificate of 0.09 0.66 7/12/2024 4.350 248,000.00 248,000.00 252,726.88 7/12/2029 1,320 532.01 4.35 7/12/2029 Deposits I 30 % Southern States Bank 843879GS0 Certificate of 0.09 0.66 3/21/2025 4.150 248,000.00 248,000.00 248,721.68 9/21/2026 295 253.78 4.15 9/21/2026 Deposits I 30 % St. Vincent's Medical Certificate of Center FCU 4.6 85279AAC6 0.09 0.66 6/16/2023 4.600 248,000.00 248,000.00 251,231.44 6/16/2027 563 437.57 6/16/2027 Deposits I 30 % Stearns Bank, NA MN 857894Q51 Certificate of 0.09 0.65 8/8/2024 4.200 244,000.00 244,000.00 245,781.20 8/9/2027 617 3,200.75 4.2 8/9/2027 Deposits I 30 % Sunwest Bank 3.55 86804DDG0 Certificate of 0.09 0.66 9/30/2024 3.550 248,000.00 248,000.00 245,740.72 9/28/2029 1,398 0.00 9/28/2029 Deposits I 30 % 78 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Synchrony Bank 0.9 87165ET98 Certificate of 0.09 0.66 9/3/2021 0.900 245,000.00 245,000.00 239,725.15 9/3/2026 277 543.70 9/3/2026 Deposits I 30 % Technology Credit 87868YAQ6 Certificate of 0.09 0.66 5/30/2023 5.000 248,000.00 248,000.00 249,502.88 5/29/2026 180 985.21 Union CA 5 5/29/2026 Deposits I 30 % Texas Exchange Bank 88241TSW1 Certificate of 0.09 0.66 9/6/2024 3.700 248,000.00 248,000.00 247,132.00 9/6/2029 1,376 603.35 3.7 9/6/2029 Deposits I 30 % The Genoa Banking Co. 372348DJ8 Certificate of 0.09 0.66 11/28/2023 4.600 248,000.00 248,000.00 254,113.20 11/28/2028 1,094 62.51 4.6 11/28/2028 Deposits I 30 % The Greenwood's State 397417AQ9 Certificate of 0.09 0.66 5/17/2022 3.050 248,000.00 248,000.00 245,572.08 5/17/2027 533 269.40 Bank WI 3.05 5/17/2027 Deposits I 30 % The Pitney Bowes Certificate of Bank, Inc UT 4.35 724468AC7 Deposits I 30 % 0.09 0.65 4/14/2023 4.350 244,000.00 244,000.00 247,459.92 4/13/2028 865 1,366.73 4/13/2028 Third Federal Savings & 88413QDN5 Certificate of 0.09 0.66 8/19/2022 3.300 245,000.00 245,000.00 243,157.60 8/19/2027 627 2,281.52 Loan 3.3 8/19/2027 Deposits I 30 % Toyota Financial Certificate of Savings Bank NV 0.9 89235MKY6 Deposits I 30 % 0.09 0.66 4/22/2021 0.900 245,000.00 245,000.00 242,143.30 4/22/2026 143 235.60 4/22/2026 True Sky FCU 1.6 89786MAF1 Certificate of 0.09 0.66 2/4/2022 1.600 245,000.00 245,000.00 238,899.50 2/4/2027 431 1,267.29 2/4/2027 Deposits I 30 % Truliant FCU NC 4. 7 89789AAG2 Certificate of 0.09 0.66 3/10/2023 4.700 248,000.00 248,000.00 252,158.96 9/10/2027 649 638.68 9/10/2027 Deposits I 30 % Tuscon FCU AZ 5 898812AC6 Certificate of 0.09 0.66 9/8/2023 5.000 248,000.00 248,000.00 256,312.96 9/8/2028 1,013 747.40 9/8/2028 Deposits I 30 % UBS Bank USA UT 4.9 90355GHG4 Certificate of 0.09 0.66 10/25/2023 4.900 248,000.00 248,000.00 255,990.56 10/25/2028 1,060 166.47 10/25/2028 Deposits I 30 % United Fidelity Bank, 910286GN7 Certificate of 0.09 0.66 6/29/2023 4.500 248,000.00 248,000.00 256,474.16 6/29/2028 942 30.58 fsb IN 4.5 6/29/2028 Deposits I 30 % United Roosevelt Certificate of Savings Bank NJ 1.9 91139LAB2 0.09 0.66 3/11/2022 1.900 248,000.00 248,000.00 242,273.68 3/11/2027 466 245.28 3/11/2027 Deposits I 30 % United Teletech FCU NJ 913065ADO Certificate of 0.09 0.66 11/8/2023 5.100 248,000.00 248,000.00 254,403.36 11/8/2027 708 762.35 5.1 11/8/2027 Deposits I 30 % University Bank Ml 4.2 914098DJ4 Certificate of 0.09 0.67 11/30/2022 4.200 249,000.00 249,000.00 251,278.35 11/30/2027 730 0.00 11/30/2027 Deposits I 30 % Univest Bank & Trust 91527PBY2 Certificate of 0.09 0.66 5/12/2023 4.350 248,000.00 248,000.00 251,633.20 5/12/2028 894 532.01 Co. PA 4.35 5/12/2028 Deposits I 30 % USAlliance Financial 90352RDB8 Certificate of 0.09 0.66 5/26/2023 4.550 248,000.00 248,000.00 252,865.76 5/26/2028 908 123.66 FCU NY 4.55 5/26/2028 Deposits I 30 % Utah First FCU 5 91739JAB1 Certificate of 0.09 0.66 7/21/2023 5.000 245,000.00 245,000.00 252,854.70 7/21/2028 964 302.05 7/21/2028 Deposits I 30 % Valley National Bank NJ 919853LV1 Certificate of 0.09 0.65 5/29/2024 4.950 244,000.00 244,000.00 245,249.28 5/29/2026 180 33.09 4.95 5/29/2026 Deposits I 30 % Valleystar Credit Union 92023CAJ2 Certificate of 0.09 0.66 11/8/2023 5.200 247,000.00 247,000.00 257,112.18 11/8/2028 1,074 774.16 VA 5.2 11/8/2028 Deposits I 30 % Vibrant Credit Union IL 92559TAJ7 Certificate of 0.09 0.67 7/2/2021 0.851 249,000.00 248,377.50 244,657.44 6/30/2026 212 158.27 0.8 6/30/2026 Deposits I 30 % VisionBank MN 4.05 92834ABT 2 Certificate of 0.09 0.66 5/12/2023 4.050 248,000.00 248,000.00 249,889.76 5/12/2028 894 495.32 5/12/2028 Deposits I 30 % 79 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIPITicker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest VyStar Credit Union FL 92891CCZ3 Certificate of 0.09 0.66 3/10/2023 4.550 248,000.00 248,000.00 252,491.28 3/10/2028 831 896.54 4.55 3/10/2028 Deposits I 30 % Washington Financial 93883MBA5 Certificate of 0.09 0.65 5/31/2024 4.500 244,000.00 244,000.00 249,660.80 5/31/2029 1,278 0.00 Bank PA4.5 5/31/2029 Deposits I 30 % Workers FCU MA 5.2 98138MCA6 Certificate of 0.09 0.66 10/30/2023 5.200 248,000.00 248,000.00 258,106.00 10/30/2028 1,065 0.00 10/30/2028 Deposits I 30 % Sub Total / Average Negotiable Certificate 13.58 100.00 3.831 37,332,000.00 37,331,377.50 37,609,040.60 759 104,839.33 Of Deposit Treasury Note T-Note 0.375 1/31/2026 91282CBH3 US Treasury I 0.18 0.70 2/23/2021 0.577 500,000.00 495,100.00 497,020.00 1/31/2026 62 621.60 100% T-Note 0.375 91282CBC4 US Treasury I 0.18 0.70 1/7/2021 0.431 500,000.00 498,632.81 498,600.00 12/31/2025 31 779.55 12/31/2025 100 % T-Note 0.5 2/28/2026 91282CBQ3 US Treasury I 0.18 0.70 5/28/2021 0.750 500,000.00 494,165.00 495,875.00 2/28/2026 90 628.45 100 % T-Note 0.5 2/28/2026 91282CBQ3 US Treasury I 0.27 1.05 3/23/2022 2.353 750,000.00 698,025.00 743,812.50 2/28/2026 90 942.68 100 % T-Note 0.625 7/31/2026 91282CCP4 US Treasury I 0.36 1.40 9/29/2021 0.970 1,000,000.00 983,750.00 979,800.00 7/31/2026 243 2,072.01 100 % T-Note 0.75 3/31/2026 91282CBT7 US Treasury I 0.18 0.70 5/28/2021 0.770 500,000.00 499,525.00 495,055.00 3/31/2026 121 628.43 100 % T-Note 0.75 3/31/2026 91282CBT7 US Treasury I 0.18 0.70 6/17/2021 0.816 500,000.00 498,450.00 495,055.00 3/31/2026 121 628.43 100 % T-Note 0.75 5/31/2026 91282CCF6 US Treasury I 0.36 1.40 6/1/2021 0.810 1,000,000.00 997,060.00 985,250.00 5/31/2026 182 0.00 100 % T-Note 0.75 5/31/2026 91282CCF6 US Treasury I 0.18 0.70 6/17/2021 0.870 500,000.00 497,095.00 492,625.00 5/31/2026 182 0.00 100% T-Note 0.75 8/31/2026 91282CCW9 US Treasury I 0.36 1.40 9/29/2021 0.990 1,000,000.00 988,500.00 978,390.00 8/31/2026 274 1,885.36 100 % T-Note 0.75 8/31/2026 91282CCW9 US Treasury I 0.18 0.70 3/22/2022 2.350 500,000.00 466,454.17 489,195.00 8/31/2026 274 942.68 100 % T-Note 1.125 91282CDG3 US Treasury I 0.18 0.70 3/22/2022 2.350 500,000.00 473,396.82 488,660.00 10/31/2026 335 466.16 10/31/2026 100 % T-Note 1.5 1/31/2027 912828278 US Treasury I 0.36 1.40 2/10/2022 1.781 1,000,000.00 986,700.00 976,090.00 1/31/2027 427 4,972.83 100 % T-Note 1.875 7/31/2026 912828Y95 US Treasury I 0.36 1.40 8/29/2024 3.876 1,000,000.00 963,281.25 987,990.00 7/31/2026 243 6,216.03 100 % T-Note 2.25 8/15/2027 9128282R0 US Treasury I 0.36 1.40 11/18/2022 3.950 1,000,000.00 927,110.00 978,830.00 8/15/2027 623 6,542.12 100 % T-Note 2.375 4/30/2026 9128286S4 US Treasury I 0.36 1.40 3/23/2022 2.400 1,000,000.00 999,010.00 994,160.00 4/30/2026 151 1,968.23 100 % T-Note 2.375 5/15/2027 912828X88 US Treasury I 0.36 1.40 6/7/2022 3.041 1,000,000.00 969,687.50 983,400.00 5/15/2027 531 984.12 100% T-Note 2.5 3/31/2027 91282CEF4 US Treasury I 0.36 1.40 5/3/2022 3.010 1,000,000.00 976,860.00 986,090.00 3/31/2027 486 4,189.56 100 % T-Note 2.625 2/15/2029 9128286B1 US Treasury I 0.36 1.40 2/15/2024 4.286 1,000,000.00 925,976.56 972,970.00 2/15/2029 1,173 7,632.47 100 % 80 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest T-Note 2.625 5/31/2027 91282CET4 US Treasury I 0.18 0.70 6/8/2022 2.980 500,000.00 491,842.18 493,240.00 5/31/2027 547 0.00 100 % T-Note 2.625 5/31/2027 91282CET4 US Treasury I 0.36 1.40 8/29/2024 3.720 1,000,000.00 971,555.99 986,480.00 5/31/2027 547 0.00 100 % T-Note 2.75 4/30/2027 91282CEN7 US Treasury I 0.18 0.70 6/8/2022 2.971 500,000.00 495,000.00 494,415.00 4/30/2027 516 1,139.50 100 % T-Note 2.75 7/31/2027 91282CFB2 US Treasury I 0.36 1.40 8/15/2022 2.980 1,000,000.00 989,460.00 987,270.00 7/31/2027 608 9,116.85 100 % T-Note 2.75 7/31/2027 91282CFB2 US Treasury I 0.36 1.40 8/29/2022 3.200 1,000,000.00 979,645.67 987,270.00 7/31/2027 608 9,116.85 100 % T-Note 2.875 4/30/2029 91282CEM9 US Treasury I 0.36 1.40 4/30/2024 4.658 1,000,000.00 921,300.00 979,100.00 4/30/2029 1,247 2,382.60 100 % T-Note 3.125 9128285M8 US Treasury I 0.36 1.40 12/29/2023 3.880 1,000,000.00 966,718.75 989,650.00 11/15/2028 1,081 1,294.89 11/15/2028 100 % T-Note 3.125 8/31/2027 91282CFH9 US Treasury I 0.18 0.70 1/24/2023 3.640 500,000.00 489,175.00 496,580.00 8/31/2027 639 3,927.83 100 % T-Note 3.25 6/30/2027 91282CEW7 US Treasury I 0.36 1.40 2/15/2023 4.075 1,000,000.00 967,220.00 995,590.00 6/30/2027 577 13,512.23 100 % T-Note 3.5 1/31/2028 91282CGH8 US Treasury I 0.36 1.40 2/2/2023 3.580 1,000,000.00 996,369.14 1,000,000.00 1/31/2028 792 11,603.26 100 % T-Note 3.5 1/31/2028 91282CGH8 US Treasury I 0.36 1.40 8/29/2024 3.680 1,000,000.00 994,257.81 1,000,000.00 1/31/2028 792 11,603.26 100 % T-Note 3.5 1/31/2030 91282CGJ4 US Treasury I 0.36 1.40 1/13/2025 4.531 1,000,000.00 953,900.00 997,380.00 1/31/2030 1,523 11,603.26 100 % T-Note 3.5 4/30/2028 91282CHA2 US Treasury I 0.36 1.40 5/31/2023 3.837 1,000,000.00 985,000.00 1,000,160.00 4/30/2028 882 2,900.55 100 % T-Note 3.5 4/30/2028 91282CHA2 US Treasury I 0.36 1.40 7/19/2024 4.145 1,000,000.00 977,600.00 1,000,160.00 4/30/2028 882 2,900.55 100 % T-Note 3.5 9/30/2029 91282CLN9 US Treasury I 0.36 1.40 9/30/2024 3.510 1,000,000.00 999,530.00 998,160.00 9/30/2029 1,400 5,865.38 100 % T-Note 3.625 91282CPD7 US Treasury I 0.73 2.80 10/31/2025 3.616 2,000,000.00 2,000,781.25 2,001,720.00 10/31/2030 1,796 6,008.29 10/31/2030 100 % T-Note 3.625 3/31/2028 91282CGT2 US Treasury I 0.36 1.40 5/31/2023 3.853 1,000,000.00 990,000.00 1,003,010.00 3/31/2028 852 6,074.86 100 % T-Note 3.625 3/31/2028 91282CGT2 US Treasury I 0.36 1.40 6/15/2023 3.980 1,000,000.00 984,600.00 1,003,010.00 3/31/2028 852 6,074.86 100 % T-Note 3.625 3/31/2028 91282CGT2 US Treasury I 0.36 1.40 10/19/2023 4.910 1,000,000.00 949,180.00 1,003,010.00 3/31/2028 852 6,074.86 100 % T-Note 3.625 5/31/2028 91282CHE4 US Treasury I 0.36 1.40 3/19/2025 4.013 1,000,000.00 988,400.00 1,003,240.00 5/31/2028 913 0.00 100 % T-Note 3.625 8/31/2029 91282CLK5 US Treasury I 0.73 2.80 9/3/2024 3.627 2,000,000.00 1,999,843.75 2,005,160.00 8/31/2029 1,370 18,225.14 100 % T-Note 3.625 8/31/2030 91282CNX5 US Treasury I 0.73 2.80 9/10/2025 3.584 2,000,000.00 2,003,687.70 2,002,040.00 8/31/2030 1,735 18,225.14 100 % T-Note 3.625 9/30/2030 91282CPA3 US Treasury I 0.73 2.80 9/30/2025 3.695 2,000,000.00 1,993,671.85 2,001,880.00 9/30/2030 1,765 12,149.73 100 % T-Note 3.75 12/31/2028 91282CJR3 US Treasury I 0.36 1.40 1/2/2024 3.815 1,000,000.00 997,067.49 1,007,190.00 12/31/2028 1,127 15,591.03 100 % 81 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest T-Note 3.75 12/31/2028 91282CJR3 US Treasury I 0.36 1.40 6/12/2024 4.480 1,000,000.00 970,230.00 1,007,190.00 12/31/2028 1,127 15,591.03 100 % T-Note 3. 75 4/15/2028 91282CMW8 US Treasury I 0.36 1.40 4/15/2025 3.760 1,000,000.00 999,726.56 1,005,740.00 4/15/2028 867 4,739.01 100 % T-Note 3.75 5/31/2030 91282CHF1 US Treasury I 0.36 1.40 5/15/2025 4.150 1,000,000.00 981,940.00 1,006,800.00 5/31/2030 1,643 0.00 100 % T-Note 3.75 6/30/2030 91282CHJ3 US Treasury I 0.36 1.40 6/17/2025 4.040 1,000,000.00 986,890.00 1,006,760.00 6/30/2030 1,673 15,591.03 100 % T-Note 3.875 91282CFY2 US Treasury I 0.36 1.40 11/21/2024 4.271 1,000,000.00 982,265.63 1,011,600.00 11/30/2029 1,461 0.00 11/30/2029 100 % T-Note 3.875 4/30/2030 91282CMZ1 US Treasury I 0.36 1.40 5/5/2025 3.900 1,000,000.00 998,867.19 1,011,990.00 4/30/2030 1,612 3,211.33 100 % T-Note 3.875 7/15/2028 91282CNM9 US Treasury I 0.36 1.40 7/31/2025 3.835 1,000,000.00 1,001,090.00 1,009,530.00 7/15/2028 958 14,531.25 100 % T-Note 3.875 7/31/2030 91282CNN7 US Treasury I 0.36 1.40 7/31/2025 3.960 1,000,000.00 996,170.01 1,011,950.00 7/31/2030 1,704 12,846.47 100 % T-Note 3.875 9/30/2029 91282CFL0 US Treasury I 0.36 1.40 10/8/2024 3.875 1,000,000.00 1,000,000.00 1,011,450.00 9/30/2029 1,400 6,493.82 100 % T-Note 4 1/15/2027 91282CJT9 US Treasury I 0.36 1.40 1/31/2024 4.115 1,000,000.00 996,813.45 1,004,220.00 1/15/2027 411 15,000.00 100 % T-Note 4 10/31/2029 91282CFT3 US Treasury I 0.36 1.40 10/31/2024 4.110 1,000,000.00 995,070.00 1,016,060.00 10/31/2029 1,431 3,314.92 100 % T-Note 4 2/28/2030 91282CGQ8 US Treasury I 0.73 2.80 2/26/2025 4.140 2,000,000.00 1,987,440.00 2,033,360.00 2/28/2030 1,551 20,110.50 100 % T-Note 4 3/31/2030 91282CMU2 US Treasury I 0.36 1.40 4/1/2025 3.950 1,000,000.00 1,002,265.63 1,016,800.00 3/31/2030 1,582 6,703.30 100 % T-Note 4 5/31/2030 91282CNG2 US Treasury I 0.36 1.40 6/2/2025 4.060 1,000,000.00 997,304.69 1,017,230.00 5/31/2030 1,643 0.00 100 % T-Note 4 7/31/2029 91282CLC3 US Treasury I 0.36 1.40 7/31/2024 4.134 1,000,000.00 994,000.00 1,015,550.00 7/31/2029 1,339 13,260.87 100 % T-Note 4 7/31/2030 91282CHR5 US Treasury I 0.36 1.40 7/8/2025 3.965 1,000,000.00 1,001,560.00 1,017,270.00 7/31/2030 1,704 13,260.87 100 % T-Note 4.125 91282CFU0 US Treasury I 0.27 1.05 11/6/2023 4.524 750,000.00 739,200.00 758,467.50 10/31/2027 700 2,563.88 10/31/2027 100 % T-Note 4.125 91282CFU0 US Treasury I 0.36 1.40 5/31/2024 4.675 1,000,000.00 982,790.00 1,011,290.00 10/31/2027 700 3,418.51 10/31/2027 100 % T-Note 4.125 91282CMA6 US Treasury I 0.36 1.40 12/2/2024 4.180 1,000,000.00 997,539.06 1,020,860.00 11/30/2029 1,461 0.00 11/30/2029 100 % T-Note 4.125 3/31/2029 91282CKG5 US Treasury I 0.36 1.40 4/1/2024 4.210 1,000,000.00 996,200.00 1,018,710.00 3/31/2029 1,217 6,912.77 100 % T-Note 4.125 6/15/2026 91282CHH7 US Treasury I 0.36 1.40 2/26/2025 4.091 1,000,000.00 1,000,380.00 1,002,200.00 6/15/2026 197 18,934.43 100 % T-Note 4.125 9/30/2027 91282CFM8 US Treasury I 0.36 1.40 7/30/2024 4.150 1,000,000.00 999,210.00 1,010,630.00 9/30/2027 669 6,912.77 100 % T-Note 4.25 1/31/2026 91282CJV4 US Treasury I 0.36 1.40 1/31/2024 4.330 1,000,000.00 998,482.98 1,000,490.00 1/31/2026 62 14,089.67 100 % T-Note 4.25 1/31/2030 91282CMG3 US Treasury I 0.36 1.40 1/31/2025 4.330 1,000,000.00 996,437.79 1,026,130.00 1/31/2030 1,523 14,089.67 100 % 82 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest T-Note 4.25 6/30/2029 91282CKX8 US Treasury I 0.73 2.80 7/1/2024 4.290 2,000,000.00 1,996,433.38 2,047,740.00 6/30/2029 1,308 35,339.67 100 % T-Note 4.375 91282CMD0 US Treasury I 0.55 2.10 12/31/2024 4.425 1,500,000.00 1,496,700.00 1,545,765.00 12/31/2029 1,492 27,284.31 12/31/2029 100 % T-Note 4.5 5/31/2029 91282CKT7 US Treasury I 0.73 2.80 5/31/2024 4.540 2,000,000.00 1,996,484.38 2,063,360.00 5/31/2029 1,278 0.00 100 % Sub Total / Average 26.00 100.00 3.610 71,500,000.00 70,516,076.44 71,663,725.00 1,009 491,691.71 Treasury Note ---Total / Average 100 3.640 274,957,629.45 273,779,413.44 275,611,756.64 631 1,649,359.42 83 --.. AIJFOR. IA -- City of La Quinta Investment Portfolio Quarterly Investment Report December 31, 2025 COMPLIANCE I I certify that this report accurately reflects all pooled investments and is in compliance with the California Government Code and the City Investment Policy. As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the City's expenditure requirements for the next six months. The City of La Quinta used the monthly account statements issued by our financial institutions to determine the fair market value of investments at month end. Portfolio Name Face Amount/Shares CAMP 56,388,975.17 CERBT OPEB Trust 2,358,622.81 Fiscal Agent -Debt Service 36,246.57 Fixed Income Investments 176,791,000.00 Housing Authority -LQPR 234,927.66 Housing Authority -DPME 1,450,570.36 Housing Authority -LAIF 2,276,240.49 LAIF 25,387,781.93 Money Market at Custodian 361,779.14 Operating Funds 17,921,781.66 PARS Pension Trust 6,470,740.67 Total / Average 289,678,666.46 Claudia Martinez, Finance Director/City Treasurer Market Value 56,388,975.17 2,358,622.81 36,246.57 177,269,406.41 234,927.66 1,450,570.36 2,281,206.07 25,443,164.94 361,779.14 17,921,781.66 6,470,740.67 290,217,421.46 3/26/2025 Date Book Value 56,388,975.17 2,358,622.81 36,246.57 176,259,807.65 234,927.66 1,450,570.36 2,276,240.49 25,387,781.93 361,779.14 17,921,781.66 6,470,740.67 289,147,474.11 % of Portfolio YTM@Cost 19.50 4.01 0.82 -0.07 0.01 3.25 60.96 3.65 0.08 0.00 0.50 0.00 0.79 4.03 8.78 4.03 0.13 3.67 6.20 3.65 2.24 0.02 100.00 3.62 Days To Maturity 94 1 1 971 1 1 1 1 1 1 1 611 84 City of La Quinta I CA Portfolio Holdings Compliance Report I Investment Policy -by Issuer Report Format: By Transaction Group By: Security Type Average By: Face Amount/ Shares Portfolio / Report Group: All Portfolios As of 12/31/2025 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Cash Checking I BMO Bank I LQ Palms LQPR1935 Savings I 0.08 13.91 3/31/2024 0.000 234,927.66 234,927.66 234,927.66 N/A Realty Cash Sweep Accounts Checking I BMO Suntrust I Dune DPME4741-3599 Savings I 0.50 85.89 3/31/2024 0.000 1,450,570.36 1,450,570.36 1,450,570.36 N/A Palms Cash Sweep Accounts Checking I City of La Quinta Cash PETTYCASH Savings I 0.00 0.20 3/31/2024 0.000 3,300.00 3,300.00 3,300.00 N/A Sweep Accounts Sub Total / Average 0.58 100.00 0.000 1,688,798.02 1,688,798.02 1,688,798.02 1 0.00 Cash Corporate Bond Alphabet, Inc 4.1 02079KAW7 Corporate 0.35 22.22 11/26/2025 3.844 1,000,000.00 1,011,470.00 1,003,070.00 11/15/2030 1,780 6,263.89 11/15/2030 Notes I 30 % Blackrock Funding Inc 09290DAA9 Corporate 0.35 22.22 3/28/2024 4.623 1,000,000.00 1,003,380.00 1,022,220.00 3/14/2029 1,169 13,969.44 4.7 3/14/2029-29 Notes 130 % Guardian Life 4.4 40139LBP7 Corporate 0.35 22.22 12/26/2025 4.248 1,000,000.00 1,006,710.00 1,003,560.00 12/11/2030 1,806 2,444.44 12/11/2030 Notes 130 % International Finance 45950VPS9 Corporate 0.17 11.11 2/26/2021 0.610 500,000.00 497,300.00 497,285.00 2/26/2026 57 868.06 Corp 0.5 2/26/2026 Notes I 30 % Walmart Inc 3.7 931142EE9 Corporate 0.35 22.22 6/26/2023 4.303 1,000,000.00 973,110.00 1,001,930.00 6/26/2028 908 513.89 6/26/2028-28 Notes 130 % Sub Total / Average 1.55 100.00 3.849 4,500,000.00 4,491,970.00 4,528,065.00 1,265 24,059.72 Corporate Bond FFCB Bond FFCB 0. 71 8/10/2026-3133EM2C5 US Agency I 0.17 1.89 8/10/2021 0.792 500,000.00 498,000.00 491,140.00 8/10/2026 222 1,390.42 23 100 % FFCB 0.8 9/10/2026 3133EM4X7 US Agency I 0.35 3.77 9/28/2021 0.985 1,000,000.00 991,080.00 980,840.00 9/10/2026 253 2,466.67 100 % FFCB 1.27 11/2/2026 3133ENCQ1 US Agency I 0.35 3.77 11/2/2021 1.270 1,000,000.00 1,000,000.00 980,880.00 11/2/2026 306 2,081.39 100 % FFCB 3.375 9/15/2027 3133ENL99 US Agency I 0.35 3.77 9/15/2022 3.430 1,000,000.00 997,492.55 997,910.00 9/15/2027 623 9,937.50 100 % 85 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest FFCB 3.5 9/10/2029 3133ERSP7 US Agency I 0.35 3.77 9/18/2024 3.470 1,000,000.00 1,001,350.00 995,050.00 9/10/2029 1,349 10,791.67 100% FFCB 3.75 12/7/2027 3133EN3S7 US Agency I 0.35 3.77 12/7/2022 3.794 1,000,000.00 998,000.00 1,005,200.00 12/7/2027 706 2,500.00 100% FFCB 3.75 8/14/2028 3133ETTJ6 US Agency I 0.35 3.77 8/14/2025 3.721 1,000,000.00 1,000,810.00 1,006,000.00 8/14/2028 957 14,270.83 100% FFCB 3.75 8/15/2029 3133ERPS4 US Agency I 0.35 3.77 8/15/2024 3.800 1,000,000.00 997,742.00 1,002,390.00 8/15/2029 1,323 14,166.67 100% FFCB 3.875 1/18/2029 3133EPW84 US Agency I 0.35 3.77 1/18/2024 4.051 1,000,000.00 992,100.00 1,010,050.00 1/18/2029 1,114 17,545.14 100% FFCB 3.875 1/18/2029 3133EPW84 US Agency I 0.35 3.77 1/30/2024 4.000 1,000,000.00 994,400.00 1,010,050.00 1/18/2029 1,114 17,545.14 100% FFCB 3.875 10/15/2027 3133ERXJ5 US Agency I 0.35 3.77 10/15/2024 3.875 1,000,000.00 1,000,000.00 1,005,530.00 10/15/2027 653 8,180.56 100% FFCB 3.875 12/10/2027 3133ER6Q9 US Agency I 0.35 3.77 3/19/2025 4.020 1,000,000.00 996,331.25 1,004,310.00 12/10/2027 709 2,260.42 100% FFCB 3.875 2/14/2028 3133EPAV7 US Agency I 0.35 3.77 2/15/2023 3.977 1,000,000.00 995,400.00 1,004,500.00 2/14/2028 775 14,746.53 100% FFCB 3.875 6/8/2028 3133EPME2 US Agency I 0.35 3.77 6/8/2023 3.915 1,000,000.00 998,190.00 1,008,630.00 6/8/2028 890 2,475.69 100% FFCB 4 11/29/2027 3133EN3H1 US Agency I 0.35 3.77 11/29/2022 4.030 1,000,000.00 998,650.00 1,007,850.00 11/29/2027 698 3,555.56 100% FFCB 4 3/18/2030 3133ER7L9 US Agency I 0.35 3.77 3/19/2025 4.080 1,000,000.00 996,415.16 1,008,430.00 3/18/2030 1,538 11,444.44 100% FFCB 4 4/1/2030 3133ETBF3 US Agency I 0.35 3.77 4/9/2025 3.900 1,000,000.00 1,004,470.00 1,011,640.00 4/1/2030 1,552 10,000.00 100% FFCB 4 5/1/2030 3133ETFAO US Agency I 0.35 3.77 5/1/2025 4.000 1,000,000.00 1,000,000.00 1,008,030.00 5/1/2030 1,582 6,666.67 100% FFCB 4 6/17/2030 3133ETLM7 US Agency I 0.35 3.77 6/17/2025 4.045 1,000,000.00 997,981.30 1,012,430.00 6/17/2030 1,629 1,555.56 100% FFCB 4 9/29/2027 3133ENQ29 US Agency I 0.35 3.77 9/30/2022 4.080 1,000,000.00 996,400.00 1,008,160.00 9/29/2027 637 10,222.22 100% FFCB 4.125 12/17/2029 3133ERL41 US Agency I 0.35 3.77 12/17/2024 4.140 1,000,000.00 999,320.00 1,013,550.00 12/17/2029 1,447 1,604.17 100% FFCB 4.125 2/13/2029 3133EP3B9 US Agency I 0.35 3.77 2/14/2024 4.318 1,000,000.00 991,400.00 1,015,950.00 2/13/2029 1,140 15,812.50 100% FFCB 4.25 7/17/2028 3133EPQDO US Agency I 0.35 3.77 7/31/2023 4.280 1,000,000.00 998,655.69 1,015,030.00 7/17/2028 929 19,361.11 100% FFCB 4.25 8/7/2028 3133EPSK2 US Agency I 0.35 3.77 8/18/2023 4.467 1,000,000.00 990,400.00 1,017,310.00 8/7/2028 950 17,000.00 100% FFCB 4.33 3/18/2030-3133ER7E5 US Agency I 0.35 3.77 4/23/2025 4.330 1,000,000.00 1,000,000.00 1,002,030.00 3/18/2030 1,538 12,388.61 27 100% FFCB 4.375 4/10/2029 3133ERAK7 US Agency I 0.35 3.77 4/23/2024 4.701 1,000,000.00 985,690.00 1,024,110.00 4/10/2029 1,196 9,843.75 100% FFCB 4.625 11/13/2028 3133EPC45 US Agency I 0.35 3.77 11/13/2023 4.630 1,000,000.00 999,770.00 1,026,550.00 11/13/2028 1,048 6,166.67 100% Sub Total / Average 9.15 100.00 3.763 26,500,000.00 26,420,047.95 26,673,550.00 1,010 245,979.89 FFCB Bond 86 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest FHLB Bond FHLB 0.51 1 /14/2026-3130AKMZ6 US Agency I 0.17 1.91 1/14/2021 0.510 500,000.00 500,000.00 499,485.00 1/14/2026 14 1,182.92 22 100 % FHLB 0.55 1 /29/2026-3130AKN28 US Agency I 0.17 1.91 1/29/2021 0.550 500,000.00 500,000.00 498,855.00 1/29/2026 29 1,161.11 21 100 % FHLB 0.75 6/12/2026 3130AMFS6 US Agency I 0.35 3.82 6/17/2021 0.885 1,000,000.00 993,420.00 987,270.00 6/12/2026 163 395.83 100 % FHLB 0.95 10/13/2026-3130APB46 US Agency I 0.35 3.82 10/13/2021 0.986 1,000,000.00 998,250.00 979,560.00 10/13/2026 286 2,058.33 23 100 % FHLB 1 9/30/2026-22 3130APBM6 US Agency I 0.35 3.82 9/30/2021 1.021 1,000,000.00 999,000.00 980,900.00 9/30/2026 273 2,500.00 100 % FHLB 1.25 12/21/2026 3130AQF65 US Agency I 0.35 3.82 12/22/2021 1.255 1,000,000.00 999,750.00 978,410.00 12/21/2026 355 347.22 100 % FHLB 1.5 1/27/2027-23 3130AQJR5 US Agency I 0.35 3.82 1/27/2022 1.500 1,000,000.00 1,000,000.00 978,430.00 1/27/2027 392 6,416.67 100 % FHLB 1.83 2/10/2027-3130AQSA2 US Agency I 0.35 3.82 2/10/2022 1.830 1,000,000.00 1,000,000.00 981,160.00 2/10/2027 406 7,167.50 23 100 % FHLB 2.7 4/19/2027-24 3130ARGY1 US Agency I 0.35 3.82 4/19/2022 2.700 1,000,000.00 1,000,000.00 989,100.00 4/19/2027 474 5,400.00 100 % FHLB 3.3 6/28/2027-24 3130ASDV8 US Agency I 0.10 1.15 6/28/2022 3.300 300,000.00 300,000.00 298,929.00 6/28/2027 544 82.50 100 % FHLB 3.5 9/13/2030 3130AF2S5 US Agency I 0.35 3.82 9/15/2025 3.580 1,000,000.00 996,370.00 991,150.00 9/13/2030 1,717 10,500.00 100 % FHLB 3.65 10/21 /2030-3130B8CC4 US Agency I 0.35 3.82 10/24/2025 3.650 1,000,000.00 1,000,000.00 992,490.00 10/21/2030 1,755 6,894.44 28 100 % FHLB 4 10/5/2029-27 3130B35F6 US Agency I 0.35 3.82 10/8/2024 4.000 1,000,000.00 1,000,000.00 1,000,730.00 10/5/2029 1,374 9,555.56 100 % FHLB 4 10/9/2026 3130B3A29 US Agency I 0.35 3.82 3/19/2025 4.020 1,000,000.00 999,682.10 1,003,130.00 10/9/2026 282 9,111.11 100 % FHLB 4 7/30/2029-27 3130B7BU7 US Agency I 0.35 3.82 7/31/2025 4.000 1,000,000.00 1,000,000.00 1,005,010.00 7/30/2029 1,307 16,666.67 100 % FHLB 4.125 4/4/2030-3130B5SX7 US Agency I 0.35 3.82 4/4/2025 4.125 1,000,000.00 1,000,000.00 1,001,530.00 4/4/2030 1,555 9,968.75 27 100 % FHLB 4.125 9/14/2029 3130ATHX8 US Agency I 0.35 3.82 10/31/2024 4.125 1,000,000.00 1,000,000.00 1,016,790.00 9/14/2029 1,353 12,260.42 100 % FHLB 4.2 3/27/2030-28 3130B5K80 US Agency I 0.35 3.82 3/27/2025 4.200 1,000,000.00 1,000,000.00 1,006,520.00 3/27/2030 1,547 10,966.67 100 % FHLB 4.3 10/23/2029-3130B3ES8 US Agency I 0.35 3.82 10/30/2024 4.351 1,000,000.00 997,750.00 1,002,710.00 10/23/2029 1,392 8,122.22 26 100 % FHLB 4.3 6/17/2030-27 3130B6PNO US Agency I 0.35 3.82 6/17/2025 4.300 1,000,000.00 1,000,000.00 1,004,860.00 6/17/2030 1,629 1,672.22 100 % FHLB 4.45 2/12/2029-3130AYXU5 US Agency I 0.69 7.63 2/15/2024 4.450 2,000,000.00 2,000,000.00 2,013,440.00 2/12/2029 1,139 34,363.89 27 100 % FHLB 4.5 12/10/2029-3130B46Y2 US Agency I 0.35 3.82 12/31/2024 4.500 1,000,000.00 1,000,000.00 1,004,750.00 12/10/2029 1,440 2,625.00 26 100% FHLB 4.5 2/18/2028-26 3130B4YH8 US Agency I 0.35 3.82 2/26/2025 4.500 1,000,000.00 1,000,000.00 1,000,500.00 2/18/2028 779 16,625.00 100 % FHLB 4.65 1 /14/2030-3130B4LS8 US Agency I 0.35 3.82 1/14/2025 4.650 1,000,000.00 1,000,000.00 1,011,580.00 1/14/2030 1,475 21,570.83 28 100 % 87 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest FHLB 4.75 9/8/2028 3130AXEL8 US Agency I 0.35 3.82 10/3/2023 4.762 1,000,000.00 999,500.00 1,029,460.00 9/8/2028 982 14,909.72 100 % FHLB 5.04 4/23/2029-3130B14L8 US Agency I 0.31 3.44 4/25/2024 5.040 900,000.00 900,000.00 909,747.00 4/23/2029 1,209 8,568.00 27 100 % FHLB Step 11/24/2026-3130APTV7 US Agency I 0.17 1.91 11/24/2021 1.489 500,000.00 499,500.00 493,015.00 11/24/2026 328 1,027.78 22 100 % FHLB Step 3/30/2026 3130ALV92 US Agency I 0.17 1.91 3/30/2021 0.938 500,000.00 500,000.00 496,850.00 3/30/2026 89 1,312.50 100 % Sub Total / Average 9.04 100.00 3.248 26,200,000.00 26,183,222.10 26, 156,361.00 943 223,432.86 FHLB Bond FHLMC Bond FHL MC 0.7 3134GWUQ7 US Agency I 0.35 66.67 2/10/2022 1.870 1,000,000.00 945,570.00 972,730.00 12/30/2026 364 1,750.00 12/30/2026-21 100 % FHL MC 0.8 3134GW6C5 US Agency I 0.17 33.33 1/5/2022 1.404 500,000.00 486,000.00 488,495.00 10/28/2026 301 700.00 10/28/2026-21 100 % Sub Total / Average 0.52 100.00 1.715 1,500,000.00 1,431,570.00 1,461,225.00 343 2,450.00 FHLMC Bond FNMA Bond FNMA 4 5/6/2030-27 3136GAGH6 US Agency I 0.35 16.67 5/6/2025 4.000 1,000,000.00 1,000,000.00 1,002,350.00 5/6/2030 1,587 6,111.11 100 % FNMA4.125 3/12/2030-3136GACD9 US Agency I 0.35 16.67 3/12/2025 4.375 1,000,000.00 988,880.00 999,670.00 3/12/2030 1,532 12,489.58 26 100 % FNMA4.125 7/16/2030-3136GAKH1 US Agency I 0.35 16.67 7/25/2025 4.126 1,000,000.00 999,950.00 1,004,470.00 7/16/2030 1,658 18,677.08 27 100 % FNMA4.15 7/28/2028-3136GAKZ1 US Agency I 0.35 16.67 7/31/2025 4.150 1,000,000.00 1,000,000.00 1,003,800.00 7/28/2028 940 17,291.67 26 100 % FNMA 4.25 4/8/2030-27 3136GAF20 US Agency I 0.35 16.67 4/9/2025 4.250 1,000,000.00 1,000,000.00 1,004,590.00 4/8/2030 1,559 9,798.61 100 % FNMA 4.5 5/20/2030-26 3136GAHF9 US Agency I 0.35 16.67 5/28/2025 4.500 1,000,000.00 1,000,000.00 1,002,360.00 5/20/2030 1,601 5,125.00 100 % Sub Total / Average 2.07 100.00 4.234 6,000,000.00 5,988,830.00 6,017,240.00 1,480 69,493.05 FNMA Bond Guaranteed lnvesbnent Contract CAMP TERM 4.07 CAMPTERM62526 Investment 10.36 100.00 7/3/2025 4.070 30,000,000.00 30,000,000.00 30,000,000.00 6/25/2026 176 605,482.19 6/25/2026 Pools Sub Total / Average Guaranteed 10.36 100.00 4.070 30,000,000.00 30,000,000.00 30,000,000.00 176 605,482.19 Investment Contract Local Government Investment Pool CAMP LG IP CAMP7001 Investment 9.11 48.82 3/31/2024 3.950 26,388,975.17 26,388,975.17 26,388,975.17 N/A Pools LAIF I City LG IP CITYLAIF3434 Investment 8.76 46.97 2/28/2024 4.025 25,387,781.93 25,387,781.93 25,443,164.94 N/A Pools LAIF I Housing LG IP HOUSINGLAIF3005 Investment 0.79 4.21 2/28/2024 4.025 2,276,240.49 2,276,240.49 2,281,206.07 N/A Pools 88 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Sub Total / Average Local Government 18.66 100.00 3.988 54,052,997.59 54,052,997.59 54,113,346.18 1 0.00 Investment Pool Money Market BMO Bank I Operating Money Market BMO1851OP Mutual Funds I 6.19 66.01 3/31/2024 3.650 17,918,481.66 17,918,481.66 17,918,481.66 N/A MM 20% Trusts Not OPEB Trust MM OPEBTRUST Subject to 0.81 8.69 3/31/2024 -0.070 2,358,622.81 2,358,622.81 2,358,622.81 N/A Policy PARS Pension Trust Trusts Not MM PARSTRUST Subject to 2.23 23.84 3/31/2024 0.020 6,470,740.67 6,470,740.67 6,470,740.67 N/A Policy US Bank I Custodian Money Market USB3000 Mutual Funds I 0.12 1.33 3/31/2024 3.670 361,779.14 361,779.14 361,779.14 N/A MM 20% US Bank I Fiscal Agent Money Market USB4000-6000 Mutual Funds I 0.01 0.13 3/31/2024 3.250 36,246.57 36,246.57 36,246.57 N/A MM 20% Sub Total / Average 9.37 100.00 2.461 27,145,870.85 27,145,870.85 27,145,870.85 1 0.00 Money Market Negotiable Certificate Of Deposit Advantage Credit Union 00790UAE7 Certificate of 0.09 0.67 7/31/2024 4.450 249,000.00 249,000.00 253,305.21 7/31/2028 943 0.00 IA 4.45 7/31/2028 Deposits I 30 % Affinity Bank, NA GA 00833JAQ4 Certificate of 0.09 0.67 3/17/2023 4.900 248,000.00 248,000.00 254,192.56 3/17/2028 807 466.10 4.9 3/17/2028 Deposits I 30 % Alabama Credit Union 5 01025RAG4 Certificate of 0.09 0.67 6/20/2023 5.000 248,000.00 248,000.00 249,589.68 6/22/2026 173 373.70 6/22/2026 Deposits I 30 % All In FCU AL 4.4 01664MAB2 Certificate of 0.09 0.67 12/20/2022 4.400 248,000.00 248,000.00 251,283.52 12/20/2027 719 328.85 12/20/2027 Deposits I 30 % Alliant Credit Union IL 5 01882MAC6 Certificate of 0.09 0.67 12/30/2022 5.000 247,000.00 247,000.00 253,147.83 12/30/2027 729 33.84 12/30/2027 Deposits I 30 % Altaone FCU CA 4.45 02157RAA5 Certificate of 0.09 0.67 7/19/2024 4.450 249,000.00 249,000.00 254,291.25 7/19/2029 1,296 910.73 7/19/2029 Deposits I 30 % Amer. Nat'I Bank of MN 02769QFW4 Certificate of 0.09 0.67 12/23/2025 3.650 249,000.00 249,000.00 246,395.46 12/23/2030 1,818 199.20 3.65 12/23/2030 Deposits I 30 % Amerant Bank, NA FL 02357QAQ0 Certificate of 0.08 0.66 2/14/2022 1.600 245,000.00 245,000.00 239,627.15 2/16/2027 412 1,492.82 1.6 2/16/2027 Deposits I 30 % American Express Nat'I 02589ADH2 Certificate of 0.08 0.66 8/29/2022 3.450 245,000.00 245,000.00 244,164.55 7/27/2027 573 3,635.73 Bank 3.45 7/27/2027 Deposits I 30 % Austin Telco FCU TX 052392BT3 Certificate of 0.09 0.67 9/21/2022 3.800 248,000.00 248,000.00 248,525.76 9/21/2027 629 774.58 3.8 9/21/2027 Deposits I 30 % Balboa Thrift & Loan 05765LBU0 Certificate of 0.09 0.67 7/19/2023 4.400 248,000.00 248,000.00 257,002.40 7/19/2028 931 358.75 4.4 7/19/2028 Deposits I 30 % Ballston Spa Nat'I Bank 058723AQ0 Certificate of 0.09 0.67 5/24/2024 4.800 248,000.00 248,000.00 250,651.12 11/24/2026 328 228.30 NY 4.8 11/24/2026 Deposits I 30 % Bank Five Nine WI 4.25 062119BT8 Certificate of 0.09 0.67 5/12/2023 4.250 248,000.00 248,000.00 250,891.68 5/12/2028 863 548.66 5/12/2028 Deposits I 30 % 89 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Bank of the Sierra CA 064860MC0 Certificate of 0.08 0.66 3/15/2023 4.600 244,000.00 244,000.00 246,798.68 3/15/2027 439 3,290.32 4.6 3/15/2027 Deposits I 30 % Bankers Bank WI 4.15 06610RCA5 Certificate of 0.09 0.67 5/24/2023 4.150 248,000.00 248,000.00 250,348.56 5/24/2028 875 197.38 5/24/2028 Deposits I 30 % Bankfirst Norfolk NE 06644QAC5 Certificate of 0.09 0.67 6/21/2024 4.500 248,000.00 248,000.00 253,582.48 6/21/2029 1,268 305.75 4.5 6/21/2029 Deposits I 30 % Baxter Credit Union IL 07181JBH6 Certificate of 0.09 0.67 8/22/2024 4.350 248,000.00 248,000.00 251,700.16 8/22/2028 965 266.01 4.35 8/22/2028 Deposits I 30 % Beal Bank TX 1.9 07371AYE7 Certificate of 0.08 0.66 2/23/2022 1.900 245,000.00 245,000.00 240,418.50 2/17/2027 413 1,657.95 2/17/2027 Deposits I 30 % Beal Bank USA NV 1.9 07371CE88 Certificate of 0.08 0.66 2/23/2022 1.900 245,000.00 245,000.00 240,418.50 2/17/2027 413 1,657.95 2/17/2027 Deposits I 30 % Blue Ridge Bank, NA 09582YAF9 Certificate of 0.08 0.66 2/28/2023 4.200 244,000.00 244,000.00 246,325.32 2/28/2028 789 3,509.59 VA 4.2 2/28/2028 Deposits I 30 % BMW Bank North 05612LFA5 Certificate of 0.08 0.66 5/23/2025 4.000 244,000.00 244,000.00 245,351.76 11/23/2027 692 1,016.11 America 4 11/23/2027 Deposits I 30 % BNY Mellon, NA PA 4.5 05584CJJ6 Certificate of 0.08 0.66 9ll/2023 4.500 244,000.00 244,000.00 248,557.92 9n/2028 981 3,459.45 9n/2028 Deposits I 30 % BOM Bank LA 4.1 09776DAV6 Certificate of 0.09 0.67 6/24/2025 4.100 248,000.00 248,000.00 250,480.00 6/24/2030 1,636 195.00 6/24/2030 Deposits I 30 % Bridgewater Bank MN 108622NJ6 Certificate of 0.09 0.67 3/29/2023 4.850 248,000.00 248,000.00 251,715.04 3/29/2027 453 65.91 4.85 3/29/2027 Deposits I 30 % Capital One, NA 1.1 14042RQB0 Certificate of 0.09 0.67 11/17/2021 1.100 248,000.00 248,000.00 242,715.12 11/17/2026 321 328.85 11/17/2026 Deposits I 30 % Carter Bank & Trust 146102AS7 Certificate of 0.09 0.67 7/5/2024 4.550 248,000.00 248,000.00 254,031.36 7/5/2029 1,282 803.79 4.55 7/5/2029 Deposits I 30 % Carter FCU LA 0. 75 14622LAA0 Certificate of 0.09 0.67 4/27/2021 0.750 248,000.00 248,000.00 245,760.56 4/27/2026 117 20.38 4/27/2026 Deposits I 30 % Celtic Bank UT 3.65 15118RR33 Certificate of 0.09 0.67 9/26/2024 3.650 248,000.00 248,000.00 246,534.32 9/26/2029 1,365 124.00 9/26/2029 Deposits I 30 % Central Bank AK 4 152577BN1 Certificate of 0.09 0.67 5/12/2023 4.000 248,000.00 248,000.00 249,490.48 5/12/2028 863 516.38 5/12/2028 Deposits I 30 % cfsbank PA 4.7 12526AAM9 Certificate of 0.08 0.66 5/30/2024 4.700 244,000.00 244,000.00 248,482.28 11/30/2027 699 973.99 11/30/2027 Deposits I 30 % Chartway FCU VA4.9 16141BAC5 Certificate of 0.09 0.67 6/9/2023 4.900 248,000.00 248,000.00 249,302.00 6/9/2026 160 732.45 6/9/2026 Deposits I 30 % CIBC Bank USA IL 4.35 12547CBJ6 Certificate of 0.08 0.66 5/16/2023 4.350 244,000.00 244,000.00 247,374.52 5/16/2028 867 1,308.58 5/16/2028 Deposits I 30 % Civic FCU 3.65 178808AF8 Certificate of 0.09 0.67 9/26/2025 3.650 248,000.00 248,000.00 247,270.88 9/26/2028 1,000 124.00 9/26/2028 Deposits I 30 % Comenity Capital Bank 20033A3A2 Certificate of 0.09 0.67 4/14/2022 2.650 248,000.00 248,000.00 244,974.40 4/14/2027 469 306.09 UT 2.65 4/14/2027 Deposits I 30 % ConnectOne Bank NJ 20786ADL6 Certificate of 0.09 0.67 9/24/2021 0.800 248,000.00 248,000.00 243,025.12 9/24/2026 267 38.05 0.8 9/24/2026 Deposits I 30 % Connexus Credit Union 20825WAR1 Certificate of 0.09 0.67 12/23/2021 1.250 249,000.00 249,000.00 243,437.34 12/23/2026 357 0.00 WI 1.25 12/23/2026 Deposits I 30 % Cornerstone Comm. 21923MAB7 Certificate of 0.09 0.67 9/30/2024 3.700 248,000.00 248,000.00 246,978.24 10/1/2029 1,370 25.14 FCU NY 3.7 10/1/2029 Deposits I 30 % 90 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest County Schools FCU 22258JAB7 Certificate of 0.09 0.67 9/30/2022 4.400 248,000.00 248,000.00 251,035.52 9/30/2027 638 29.90 CA 4.4 9/30/2027 Deposits I 30 % Covantage Credit Union 22282XAD2 Certificate of 0.09 0.67 8/6/2024 4.200 247,000.00 247,000.00 249,749.11 8/7/2028 950 1,563.21 WI 4.2 8/7/2028 Deposits I 30 % Credit Human FCU 3.6 22537MAH0 Certificate of 0.09 0.67 9/29/2025 3.600 248,000.00 248,000.00 246,941.04 9/29/2028 1,003 48.92 9/29/2028 Deposits I 30 % Cross River Bank NJ 227563GC1 Certificate of 0.08 0.66 4/26/2024 4.500 244,000.00 244,000.00 246,681.56 4/26/2027 481 1,985.42 4.5 4/26/2027 Deposits I 30 % Customers Bank PA 4.5 23204HPB8 Certificate of 0.08 0.66 6/14/2023 4.500 244,000.00 244,000.00 248,272.44 6/14/2028 896 511.40 6/14/2028 Deposits I 30 % Cy-Fair FCU TX 4.5 23248UAB3 Certificate of 0.09 0.67 5/12/2023 4.500 248,000.00 248,000.00 252,292.88 5/12/2028 863 580.93 5/12/2028 Deposits I 30 % Direct FCU MA 4.8 25460FDW3 Certificate of 0.09 0.67 11/7/2022 4.800 248,000.00 248,000.00 252,960.00 11/8/2027 677 782.73 11/8/2027 Deposits I 30 % Dort Financial Credit Certificate of Union Ml 4.5 25844MAK4 0.09 0.67 12/16/2022 4.500 247,000.00 247,000.00 250,729.70 12/16/2027 715 2,771.14 12/16/2027 Deposits I 30 % EagleBank MD 4.05 27002YHQ2 Certificate of 0.09 0.67 4/16/2025 4.050 248,000.00 248,000.00 249,984.00 4/16/2030 1,567 412.77 4/16/2030 Deposits I 30 % Eaglemark Savings 27004PCM3 Certificate of 0.08 0.66 3/2/2022 2.000 245,000.00 245,000.00 240,531.20 3/2/2027 426 1,610.96 Bank NV 2 3/2/2027 Deposits I 30 % Empower FCU NY 5.25 291916AJ3 Certificate of 0.09 0.67 11/15/2023 5.250 247,000.00 247,000.00 256,939.28 11/15/2028 1,050 746.08 11/15/2028 Deposits I 30 % Enterprise Bank PA 4.6 29367RND4 Certificate of 0.09 0.67 6/7/2024 4.600 248,000.00 248,000.00 254,336.40 6/7/2029 1,254 750.12 6/7/2029 Deposits I 30 % EverBank, NA f/k/a Certificate of TIAA FSB 0.5 87270LDL4 Deposits I 30 % 0.08 0.66 2/12/2021 0.500 245,000.00 245,000.00 244,029.80 2/12/2026 43 473.22 2/12/2026 Evergreen Bank Group 300185LM5 Certificate of 0.09 0.67 1/27/2023 3.850 248,000.00 248,000.00 248,310.00 7/27/2026 208 104.64 IL 3.85 7/27/2026 Deposits I 30 % Fahey Banking 303117DN2 Certificate of 0.09 0.67 2/28/2025 4.200 248,000.00 248,000.00 250,162.56 8/30/2027 607 85.61 Company 4.2 8/30/2027 Deposits I 30 % Farmers & Merchants Certificate of Bank of Colby 4.4 30781JBU3 Deposits I 30 % 0.09 0.67 7/5/2024 4.400 248,000.00 248,000.00 252,811.20 7/5/2029 1,282 777.29 7/5/2029 Fidelity Bank LA 0.7 31617CAV5 Certificate of 0.09 0.67 4/30/2021 0.700 248,000.00 248,000.00 245,502.64 4/30/2026 120 0.00 4/30/2026 Deposits I 30 % Fieldpoint Private B&T 31657FBA4 Certificate of 0.09 0.67 9/4/2024 4.000 248,000.00 248,000.00 248,659.68 9/4/2026 247 733.81 CT 4 9/4/2026 Deposits I 30 % First Bank Elk River MN 31911KAK4 Certificate of 0.09 0.67 6/30/2023 4.400 248,000.00 248,000.00 255,578.88 6/30/2028 912 29.90 4.4 6/30/2028 Deposits I 30 % First Federal Savings IN 32021YEV1 Certificate of 0.09 0.67 2/9/2024 4.250 248,000.00 248,000.00 248,778.72 7/9/2026 190 635.29 4.25 7/9/2026 Deposits I 30 % First Nat'I Bank of Certificate of America Ml 3.75 32110YQ24 Deposits I 30 % 0.09 0.67 10/30/2024 3.750 248,000.00 248,000.00 247,913.20 10/30/2028 1,034 25.48 10/30/2028 First Service CU f/k/a Certificate of SPCOTX4.35 78472EAB0 0.09 0.67 1/20/2023 4.350 249,000.00 249,000.00 252,147.36 1/20/2028 750 326.43 1/20/2028 Deposits I 30 % 91 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Forbright Bank MD 4.6 34520LAT0 Certificate of 0.09 0.67 11/2/2022 4.600 248,000.00 248,000.00 252,017.60 11/2/2027 671 906.39 11/2/2027 Deposits I 30 % Four Points FCU 4.55 35089LAF0 Certificate of 0.09 0.67 5/10/2023 4.550 248,000.00 248,000.00 248,709.28 5/11/2026 131 649.22 5/11/2026 Deposits I 30 % Genesee Regional Certificate of Bank NY 4.2 37173RAL7 Deposits I 30 % 0.08 0.66 12/27/2023 4.200 244,000.00 244,000.00 245,495.72 12/28/2026 362 112.31 12/28/2026 Global FCU f/k/a Alaska 011852AE0 Certificate of 0.09 0.67 3/8/2023 4.600 248,000.00 248,000.00 252,575.60 3/8/2028 798 718.86 USA AK 4.6 3/8/2028 Deposits I 30 % Golden State Bank CA 38120MCA2 Certificate of 0.09 0.67 6/22/2023 4.450 249,000.00 249,000.00 251,878.44 6/22/2027 538 273.22 4.45 6/22/2027 Deposits I 30 % Goldman Sachs Bank 38149MXK4 Certificate of 0.09 0.67 7/28/2021 1.000 248,000.00 248,000.00 244,200.64 7/28/2026 209 1,059.95 USA 1 7/28/2026 Deposits I 30 % Greenstate Credit Certificate of Union IA 0.95 39573LBC1 0.09 0.67 4/16/2021 0.950 249,000.00 249,000.00 246,940.77 4/16/2026 106 194.42 4/16/2026 Deposits I 30 % Gulf Coast Bank New Certificate of Orleans LA 3.6 402194GQ1 0.08 0.66 10/29/2025 3.600 245,000.00 245,000.00 242,035.50 10/29/2030 1,763 1,522.36 10/29/2030 Deposits I 30 % Healthcare Systems 42228LAN1 Certificate of 0.09 0.67 10/27/2023 5.100 248,000.00 248,000.00 256,818.88 10/27/2028 1,031 138.61 FCU VA 5.1 10/27/2028 Deposits I 30 % Ideal Credit Union MN 45157PAZ3 Certificate of 0.09 0.67 12/29/2022 4.500 248,000.00 248,000.00 251,806.80 12/29/2027 728 917.26 4.5 12/29/2027 Deposits I 30 % Inst. for Savings Certificate of Newburyport MA 3.65 45780PDK8 Deposits I 30 % 0.09 0.67 10/28/2025 3.650 248,000.00 248,000.00 245,562.16 10/28/2030 1,762 74.40 10/28/2030 Jeep Country FCU OH 472312AA5 Certificate of 0.09 0.67 6/29/2023 4.700 248,000.00 248,000.00 251,794.40 6/29/2027 545 63.87 4.7 6/29/2027 Deposits I 30 % Knoxville TVA Certificate of Employees Credit 499724AP7 0.09 0.67 8/25/2023 4.850 248,000.00 248,000.00 254,849.76 8/25/2028 968 988.60 Union 4.85 8/25/202 Deposits I 30 % Lafayette FCU MD 4.1 50625LCA9 Certificate of 0.09 0.67 3/28/2025 4.100 248,000.00 248,000.00 250,298.96 3/28/2029 1,183 83.57 3/28/2029 Deposits I 30 % Latino Community Certificate of Credit Union NC 4.5 51828MAC8 Deposits I 30 % 0.09 0.67 12/21/2022 4.500 248,000.00 248,000.00 251,757.20 12/21/2027 720 305.75 12/21/2027 Leaders Credit Union 52171MAM7 Certificate of 0.09 0.67 10/30/2023 5.100 248,000.00 248,000.00 256,895.76 10/30/2028 1,034 34.65 TN 5.1 10/30/2028 Deposits I 30 % Legacy Bank & Trust 52470QEC4 Certificate of 0.09 0.67 9/27/2023 4.500 248,000.00 248,000.00 252,746.72 9/27/2028 1,001 122.30 Co. MO 4.5 9/27/2028 Deposits I 30 % Legends Bank TN 3. 75 52465JKL0 Certificate of 0.09 0.67 9/11/2024 3.750 248,000.00 248,000.00 247,935.52 9/11/2028 985 509.59 9/11/2028 Deposits I 30 % Liberty First Credit 530520AH8 Certificate of 0.09 0.67 2/21/2023 4.500 248,000.00 248,000.00 251,975.44 2/22/2028 783 917.26 Union NE 4.5 2/22/2028 Deposits I 30 % Maine Community Bank 560390DC7 Certificate of 0.09 0.67 8/30/2024 3.750 248,000.00 248,000.00 248,337.28 8/30/2027 607 25.48 3.75 8/30/2027 Deposits I 30 % Maine Savings FCU 4.8 560507AQ8 Certificate of 0.09 0.67 7/21/2023 4.800 248,000.00 248,000.00 254,343.84 7/21/2028 933 326.14 7/21/2028 Deposits I 30 % Malaga Bank, FSB CA 56102ACC8 Certificate of 0.09 0.67 10/24/2025 3.600 248,000.00 248,000.00 245,028.96 10/24/2030 1,758 171.22 3.6 10/24/2030 Deposits I 30 % 92 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Marathon Bank WI 1.8 565819AG4 Certificate of 0.09 0.67 3/16/2022 1.800 248,000.00 248,000.00 242,692.80 3/16/2027 440 183.45 3/16/2027 Deposits I 30 % Marine FCU NC 4 56824JBC7 Certificate of 0.09 0.67 8/30/2024 4.000 248,000.00 248,000.00 248,672.08 8/31/2026 243 27.18 8/31/2026 Deposits I 30 % Medallion Bank UT 4.85 58404DTP6 Certificate of 0.09 0.67 10/20/2023 4.850 248,000.00 248,000.00 258,554.88 10/20/2028 1,024 362.49 10/20/2028 Deposits I 30 % Merrick Bank UT 1.1 59013KPN0 Certificate of 0.09 0.67 11/9/2021 1.100 249,000.00 249,000.00 243,790.92 11/9/2026 313 165.09 11/9/2026 Deposits I 30 % Metro Credit Union MA 59161YAP1 Certificate of 0.09 0.67 2/18/2022 1.700 249,000.00 249,000.00 243,723.69 2/18/2027 414 347.92 1 . 7 2/18/2027 Deposits I 30 % Mid Carolina Credit Certificate of Union SC 4.85 59524LAA4 0.09 0.67 3/13/2023 4.850 248,000.00 248,000.00 248,560.48 3/13/2026 72 593.16 3/13/2026 Deposits I 30 % Milestone Bk f/k/a LCA 501798RP9 Certificate of 0.09 0.67 12/27/2021 1.000 248,000.00 248,000.00 244,842.96 6/26/2026 177 27.18 UT 1 6/26/2026 Deposits I 30 % Minnwest Bank MN 60425SKB4 Certificate of 0.09 0.67 5/1/2023 4.250 248,000.00 248,000.00 250,013.76 5/3/2027 488 866.30 4.25 5/3/2027 Deposits I 30 % Money One FCU MD 5 60936TAL3 Certificate of 0.09 0.67 9/14/2023 5.000 248,000.00 248,000.00 255,886.40 9/14/2028 988 577.53 9/14/2028 Deposits I 30 % Morgan Stanley Bank, 61690DT40 Certificate of 0.08 0.66 3/5/2025 4.250 244,000.00 244,000.00 247,799.08 3/5/2030 1,525 3,324.08 NA 4.25 3/5/2030 Deposits I 30 % Morgan Stanley Private 61776NMT7 Certificate of 0.08 0.66 3/5/2025 4.250 244,000.00 244,000.00 247,799.08 3/5/2030 1,525 3,324.08 Bank 4.25 3/5/2030 Deposits I 30 % Mountain American 62384RAT3 Certificate of 0.09 0.67 4/28/2023 4.700 248,000.00 248,000.00 248,736.56 4/28/2026 118 958.03 FCU 4. 7 4/28/2026 Deposits I 30 % MVB Bank, Inc. WV 62847NEP7 Certificate of 0.09 0.67 8/1/2024 4.050 248,000.00 248,000.00 249,676.48 2/1/2028 762 825.53 4.05 2/1/2028 Deposits I 30 % Nelnet Bank UT 1.8 64034KAZ4 Certificate of 0.08 0.66 3/2/2022 1.800 245,000.00 245,000.00 244,164.55 3/2/2026 61 1,449.86 3/2/2026 Deposits I 30 % Northpointe Bank Ml 666613MK7 Certificate of 0.09 0.67 10/20/2023 4.850 248,000.00 248,000.00 255,122.56 10/20/2028 1,024 362.49 4.85 10/20/2028 Deposits I 30 % Numerica CU 4.15 67054NBT9 Certificate of 0.09 0.67 11/26/2024 4.150 248,000.00 248,000.00 250,889.20 11/26/2029 1,426 140.99 11/26/2029 Deposits I 30 % Oklahoma Educators 67885MAE0 Certificate of 0.09 0.67 10/3/2025 3.650 248,000.00 248,000.00 247,885.92 10/4/2027 642 694.40 cu 3.65 10/4/2027 Deposits I 30 % Opium Bank, Inc UT 4 68405VDD8 Certificate of 0.08 0.66 4/28/2025 4.000 245,000.00 245,000.00 246,470.00 4/29/2030 1,580 1,718.36 4/29/2030 Deposits I 30 % Oregon Community Certificate of Credit Union 4.85 68584JAT6 Deposits I 30 % 0.09 0.67 6/7/2024 4.850 248,000.00 248,000.00 252,186.24 6/7/2027 523 790.88 6/7/2027 Pacific Crest Savings 69417ADA4 Certificate of 0.09 0.67 8/16/2024 3.900 248,000.00 248,000.00 248,716.72 8/16/2029 1,324 397.48 Bank WA 3.9 8/16/2029 Deposits I 30 % Parkside Financial B&T 70147AGA6 Certificate of 0.09 0.67 9/13/2024 3.750 248,000.00 248,000.00 247,933.04 9/13/2028 987 458.63 MO 3.75 9/13/2028 Deposits I 30 % Partners Bank of Certificate of California 4.15 70212YBY7 0.08 0.66 2/27/2025 4.150 244,000.00 244,000.00 245,793.40 8/27/2027 604 3,495.55 8/27/2027 Deposits I 30 % Peoples Exchange 71104AAS2 Certificate of 0.09 0.67 8/9/2024 4.150 248,000.00 248,000.00 249,894.72 8/9/2027 586 620.34 Bank KY 4.15 8/9/2027 Deposits I 30 % 93 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Ponce Bank NY 3.5 732329BD8 Certificate of 0.09 0.67 9/15/2022 3.500 248,000.00 248,000.00 247,300.64 9/15/2027 623 380.49 9/15/2027 Deposits I 30 % Prevail Bank WI 4.25 887171AB2 Certificate of 0.09 0.67 7/24/2024 4.250 249,000.00 249,000.00 251,664.30 1/24/2028 754 202.95 1/24/2028 Deposits I 30 % Riverwood Bank MN 76951DBZ2 Certificate of 0.09 0.67 9/11/2024 3.850 248,000.00 248,000.00 248,689.44 3/11/2027 435 523.18 3.85 3/11/2027 Deposits I 30 % Rize FCU f/k/a SCE CA 78413RAV9 Certificate of 0.09 0.67 6/20/2024 4.700 248,000.00 248,000.00 255,187.04 6/20/2029 1,267 351.28 4.7 6/20/2029 Deposits I 30 % Rockland FCU MA 4.6 77357DAD0 Certificate of 0.09 0.67 12/22/2023 4.600 248,000.00 248,000.00 250,398.16 12/22/2026 356 281.29 12/22/2026 Deposits I 30 % Safra Nat'I Bank NY 24773RCR4 Certificate of 0.08 0.66 3/9/2022 2.000 245,000.00 245,000.00 240,599.80 2/25/2027 421 1,516.99 f/k/a/ Delta Nat'I 2 2 Deposits I 30 % Sallie Mae 3.9 795451EE9 Certificate of 0.08 0.66 12/10/2025 3.900 245,000.00 245,000.00 245,191.10 12/10/2030 1,805 549.74 12/10/2030 Deposits I 30 % San Francisco FCU CA 79772FAG1 Certificate of 0.09 0.67 2/3/2023 4.350 248,000.00 248,000.00 251,171.92 2/3/2028 764 827.57 4.35 2/3/2028 Deposits I 30 % Signature FCU VA 4.4 82671DAB3 Certificate of 0.09 0.67 1/31/2023 4.400 248,000.00 248,000.00 251,442.24 1/31/2028 761 0.00 1/31/2028 Deposits I 30 % Simmons Bank f/k/a Certificate of Landmark Comm. 0.5 51507LCC6 Deposits I 30 % 0.09 0.67 1/22/2021 0.500 248,000.00 248,000.00 247,499.04 1/22/2026 22 30.58 1/22/2026 SkyOne FCU CA 3.9 83088XAR9 Certificate of 0.09 0.67 10/25/2024 3.900 248,000.00 248,000.00 248,863.04 10/25/2028 1,029 158.99 10/25/2028 Deposits I 30 % SNB Bank, NA OK 4.1 78470MBS6 Certificate of 0.09 0.67 8/14/2024 4.100 248,000.00 248,000.00 250,137.76 8/14/2028 957 473.58 8/14/2028 Deposits I 30 % Sound Credit Union WA 83616HAH7 Certificate of 0.09 0.67 6/2/2025 4.150 248,000.00 248,000.00 250,358.48 6/2/2028 884 817.72 4.15 6/2/2028 Deposits I 30 % Southern Bank GA 4.25 84229LBA9 Certificate of 0.08 0.66 10/28/2022 4.250 244,000.00 244,000.00 244,085.40 1/28/2026 28 1,818.30 1/28/2026 Deposits I 30 % Southern Bank MO 4.2 843383CS7 Certificate of 0.09 0.67 5/17/2023 4.200 248,000.00 248,000.00 250,621.36 5/17/2028 868 399.52 5/17/2028 Deposits I 30 % Southern Bank of TN 84229QAC5 Certificate of 0.09 0.67 7/12/2024 4.350 248,000.00 248,000.00 252,419.36 7/12/2029 1,289 561.57 4.35 7/12/2029 Deposits I 30 % Southern States Bank 843879GS0 Certificate of 0.09 0.67 3/21/2025 4.150 248,000.00 248,000.00 248,992.00 9/21/2026 264 281.97 4.15 9/21/2026 Deposits I 30 % St. Vincent's Medical Certificate of Center FCU 4.6 85279AAC6 0.09 0.67 6/16/2023 4.600 248,000.00 248,000.00 251,367.84 6/16/2027 532 468.82 6/16/2027 Deposits I 30 % Stearns Bank, NA MN 857894Q51 Certificate of 0.08 0.66 8/8/2024 4.200 244,000.00 244,000.00 245,976.40 8/9/2027 586 4,071.12 4.2 8/9/2027 Deposits I 30 % Sunwest Bank 3.55 86804DDG0 Certificate of 0.09 0.67 9/30/2024 3.550 248,000.00 248,000.00 245,686.16 9/28/2029 1,367 24.12 9/28/2029 Deposits I 30 % Synchrony Bank 0.9 87165ET98 Certificate of 0.08 0.66 9/3/2021 0.900 245,000.00 245,000.00 240,683.10 9/3/2026 246 730.97 9/3/2026 Deposits I 30 % Technology Credit 87868YAQ6 Certificate of 0.09 0.67 5/30/2023 5.000 248,000.00 248,000.00 249,321.84 5/29/2026 149 1,019.18 Union CA 5 5/29/2026 Deposits I 30 % Texas Exchange Bank 88241TSW1 Certificate of 0.09 0.67 9/6/2024 3.700 248,000.00 248,000.00 247,003.04 9/6/2029 1,345 628.49 3.7 9/6/2029 Deposits I 30 % 94 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest The Genoa Banking 372348DJ8 Certificate of 0.09 0.67 11/28/2023 4.600 248,000.00 248,000.00 253,614.72 11/28/2028 1,063 93.76 Co. 4.6 11/28/2028 Deposits I 30 % The Greenwood's State Certificate of Bank WI 3.05 397417AQ9 Deposits I 30 % 0.09 0.67 5/17/2022 3.050 248,000.00 248,000.00 246,060.64 5/17/2027 502 290.13 5/17/2027 The Pitney Bowes Certificate of Bank, Inc UT 4.35 724468AC7 Deposits I 30 % 0.08 0.66 4/14/2023 4.350 244,000.00 244,000.00 247,335.48 4/13/2028 834 2,268.20 4/13/2028 Third Federal Savings 88413QDN5 Certificate of 0.08 0.66 8/19/2022 3.300 245,000.00 245,000.00 243,527.55 8/19/2027 596 2,968.19 & Loan 3.3 8/19/2027 Deposits I 30 % Toyota Financial Certificate of Savings Bank NV 0.9 89235MKY6 Deposits I 30 % 0.08 0.66 4/22/2021 0.900 245,000.00 245,000.00 242,839.10 4/22/2026 112 422.88 4/22/2026 True Sky FCU 1.6 89786MAF1 Certificate of 0.08 0.66 2/4/2022 1.600 245,000.00 245,000.00 239,749.65 2/4/2027 400 1,600.22 2/4/2027 Deposits I 30 % Truliant FCU NC 4.7 89789AAG2 Certificate of 0.09 0.67 3/10/2023 4.700 248,000.00 248,000.00 252,186.24 9/10/2027 618 670.62 9/10/2027 Deposits I 30 % Tuscon FCU AZ 5 898812AC6 Certificate of 0.09 0.67 9/8/2023 5.000 248,000.00 248,000.00 255,849.20 9/8/2028 982 781.37 9/8/2028 Deposits I 30 % UBS Bank USA UT 4.9 90355GHG4 Certificate of 0.09 0.67 10/25/2023 4.900 248,000.00 248,000.00 255,479.68 10/25/2028 1,029 199.76 10/25/2028 Deposits I 30 % United Fidelity Bank, 910286GN7 Certificate of 0.09 0.67 6/29/2023 4.500 248,000.00 248,000.00 256,109.60 6/29/2028 911 61.15 fsb IN 4.5 6/29/2028 Deposits I 30 % United Roosevelt Certificate of Savings Bank NJ 1.9 91139LAB2 Deposits I 30 % 0.09 0.67 3/11/2022 1.900 248,000.00 248,000.00 243,044.96 3/11/2027 435 258.19 3/11/2027 United Teletech FCU NJ 913065AD0 Certificate of 0.09 0.67 11/8/2023 5.100 248,000.00 248,000.00 254,259.52 11/8/2027 677 797.00 5.1 11/8/2027 Deposits I 30 % University Bank Ml 4.2 914098DJ4 Certificate of 0.09 0.67 11/30/2022 4.200 249,000.00 249,000.00 251,318.19 11/30/2027 699 28.65 11/30/2027 Deposits I 30 % Univest Bank & Trust 91527PBY2 Certificate of 0.09 0.67 5/12/2023 4.350 248,000.00 248,000.00 251,452.16 5/12/2028 863 561.57 Co. PA 4.35 5/12/2028 Deposits I 30 % USAlliance Financial 90352RDB8 Certificate of 0.09 0.67 5/26/2023 4.550 248,000.00 248,000.00 252,627.68 5/26/2028 877 154.58 FCU NY 4.55 5/26/2028 Deposits I 30 % Utah First FCU 5 91739JAB1 Certificate of 0.08 0.66 7/21/2023 5.000 245,000.00 245,000.00 252,457.80 7/21/2028 933 335.62 7/21/2028 Deposits I 30 % Valley National Bank NJ 919853LV1 Certificate of 0.08 0.66 5/29/2024 4.950 244,000.00 244,000.00 245,212.68 5/29/2026 149 1,058.89 4.95 5/29/2026 Deposits I 30 % Valleystar Credit Union 92023CAJ2 Certificate of 0.09 0.67 11/8/2023 5.200 247,000.00 247,000.00 256,521.85 11/8/2028 1,043 809.35 VA 5.2 11/8/2028 Deposits I 30 % Vibrant Credit Union IL 92559TAJ7 Certificate of 0.09 0.67 7/2/2021 0.851 249,000.00 248,377.50 245,509.02 6/30/2026 181 163.73 0.8 6/30/2026 Deposits I 30 % VisionBank MN 4.05 92834ABT2 Certificate of 0.09 0.67 5/12/2023 4.050 248,000.00 248,000.00 249,770.72 5/12/2028 863 522.84 5/12/2028 Deposits I 30 % VyStar Credit Union FL 92891CCZ3 Certificate of 0.09 0.67 3/10/2023 4.550 248,000.00 248,000.00 252,332.56 3/10/2028 800 927.45 4.55 3/10/2028 Deposits I 30 % Washington Financial 93883MBA5 Certificate of 0.08 0.66 5/31/2024 4.500 244,000.00 244,000.00 249,411.92 5/31/2029 1,247 932.55 Bank PA 4.5 5/31/2029 Deposits I 30 % Workers FCU MA 5.2 98138MCA6 Certificate of 0.09 0.67 10/30/2023 5.200 248,000.00 248,000.00 257,560.40 10/30/2028 1,034 35.33 10/30/2028 Deposits I 30 % 95 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest Sub Total / Average Negotiable Certificate 12.80 100.00 3.836 37,091,000.00 37,090,377 .so 37,375,190.41 755 109,146.51 Of Deposit Treasury Note T-Note 0.375 1/31/2026 91282CBH3 US Treasury I 0.17 0.67 2/23/2021 0.577 500,000.00 495,100.00 498,700.00 1/31/2026 31 779.55 100 % T-Note 0.5 2/28/2026 91282CBQ3 US Treasury I 0.17 0.67 5/28/2021 0.750 500,000.00 494,165.00 497,395.00 2/28/2026 59 842.54 100 % T-Note 0.5 2/28/2026 91282CBQ3 US Treasury I 0.26 1.00 3/23/2022 2.353 750,000.00 698,025.00 746,092.50 2/28/2026 59 1,263.81 100 % T-Note 0.625 7/31/2026 91282CCP4 US Treasury I 0.35 1.33 9/29/2021 0.970 1,000,000.00 983,750.00 983,230.00 7/31/2026 212 2,598.51 100 % T-Note 0.75 3/31/2026 91282CBT7 US Treasury I 0.17 0.67 5/28/2021 0.770 500,000.00 499,525.00 496,710.00 3/31/2026 90 947.80 100 % T-Note 0.75 3/31/2026 91282CBT7 US Treasury I 0.17 0.67 6/17/2021 0.816 500,000.00 498,450.00 496,710.00 3/31/2026 90 947.80 100 % T-Note 0.75 5/31/2026 91282CCF6 US Treasury I 0.35 1.33 6/1/2021 0.810 1,000,000.00 997,060.00 988,490.00 5/31/2026 151 638.74 100 % T-Note 0.75 5/31/2026 91282CCF6 US Treasury I 0.17 0.67 6/17/2021 0.870 500,000.00 497,095.00 494,245.00 5/31/2026 151 319.37 100 % T-Note 0.75 8/31/2026 91282CCW9 US Treasury I 0.35 1.33 9/29/2021 0.990 1,000,000.00 988,500.00 981,710.00 8/31/2026 243 2,527.62 100 % T-Note 0.75 8/31/2026 91282CCW9 US Treasury I 0.17 0.67 3/22/2022 2.350 500,000.00 466,454.17 490,855.00 8/31/2026 243 1,263.81 100 % T-Note 1.125 91282CDG3 US Treasury I 0.17 0.67 3/22/2022 2.350 500,000.00 473,396.82 489,940.00 10/31/2026 304 947.86 10/31/2026 100 % T-Note 1.5 1/31/2027 912828278 US Treasury I 0.35 1.33 2/10/2022 1.781 1,000,000.00 986,700.00 978,630.00 1/31/2027 396 6,236.41 100 % T-Note 1.875 7/31/2026 912828Y95 US Treasury I 0.35 1.33 8/29/2024 3.876 1,000,000.00 963,281.25 990,440.00 7/31/2026 212 7,795.52 100 % T-Note 2.25 8/15/2027 9128282R0 US Treasury I 0.35 1.33 11/18/2022 3.950 1,000,000.00 927,110.00 980,550.00 8/15/2027 592 8,437.50 100 % T-Note 2.375 4/30/2026 9128286S4 US Treasury I 0.35 1.33 3/23/2022 2.400 1,000,000.00 999,010.00 996,260.00 4/30/2026 120 4,002.07 100 % T-Note 2.375 5/15/2027 912828X88 US Treasury I 0.35 1.33 6nt2022 3.041 1,000,000.00 969,687.50 984,920.00 5/15/2027 500 3,017.96 100 % T-Note 2.5 3/31/2027 91282CEF4 US Treasury I 0.35 1.33 5/3/2022 3.010 1,000,000.00 976,860.00 987,620.00 3/31/2027 455 6,318.68 100 % T-Note 2.625 2/15/2029 9128286B1 US Treasury I 0.35 1.33 2/15/2024 4.286 1,000,000.00 925,976.56 972,340.00 2/15/2029 1,142 9,843.75 100 % T-Note 2.625 5/31/2027 91282CET4 US Treasury I 0.17 0.67 6/8/2022 2.980 500,000.00 491,842.18 494,025.00 5/31/2027 516 1,117.79 100 % T-Note 2.625 5/31/2027 91282CET4 US Treasury I 0.35 1.33 8/29/2024 3.720 1,000,000.00 971,555.99 988,050.00 5/31/2027 516 2,235.58 100 % T-Note 2.75 4/30/2027 91282CEN7 US Treasury I 0.17 0.67 6/8/2022 2.971 500,000.00 495,000.00 495,155.00 4/30/2027 485 2,316.99 100 % T-Note 2.75 7/31/2027 91282CFB2 US Treasury I 0.35 1.33 8/15/2022 2.980 1,000,000.00 989,460.00 988,710.00 7/31/2027 577 11,433.42 100 % 96 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest T-Note 2.75 7/31/2027 91282CFB2 US Treasury I 0.35 1.33 8/29/2022 3.200 1,000,000.00 979,645.67 988,710.00 7/31/2027 577 11,433.42 100% T-Note 2.875 4/30/2029 91282CEM9 US Treasury I 0.35 1.33 4/30/2024 4.658 1,000,000.00 921,300.00 977,890.00 4/30/2029 1,216 4,844.61 100% T-Note 3.125 9128285M8 US Treasury I 0.35 1.33 12/29/2023 3.880 1,000,000.00 966,718.75 988,830.00 11/15/2028 1,050 3,970.99 11/15/2028 100% T-Note 3.125 8/31/2027 91282CFH9 US Treasury I 0.17 0.67 1/24/2023 3.640 500,000.00 489,175.00 497,130.00 8/31/2027 608 5,265.88 100% T-Note 3.25 6/30/2027 91282CEW7 US Treasury I 0.35 1.33 2/15/2023 4.075 1,000,000.00 967,220.00 996,560.00 6/30/2027 546 0.00 100% T-Note 3.5 1/31/2028 91282CGH8 US Treasury I 0.35 1.33 2/2/2023 3.580 1,000,000.00 996,369.14 1,000,200.00 1/31/2028 761 14,551.63 100% T-Note 3.5 1/31/2028 91282CGH8 US Treasury I 0.35 1.33 8/29/2024 3.680 1,000,000.00 994,257.81 1,000,200.00 1/31/2028 761 14,551.63 100% T-Note 3.5 1/31/2030 91282CGJ4 US Treasury I 0.35 1.33 1/13/2025 4.531 1,000,000.00 953,900.00 994,260.00 1/31/2030 1,492 14,551.63 100% T-Note 3.5 11/30/2030 91282CPN5 US Treasury I 0.69 2.67 12/1/2025 3.570 2,000,000.00 1,993,640.00 1,979,840.00 11/30/2030 1,795 5,801.10 100% T-Note 3.5 4/30/2028 91282CHA2 US Treasury I 0.35 1.33 5/31/2023 3.837 1,000,000.00 985,000.00 999,840.00 4/30/2028 851 5,897.79 100% T-Note 3.5 4/30/2028 91282CHA2 US Treasury I 0.35 1.33 7/19/2024 4.145 1,000,000.00 977,600.00 999,840.00 4/30/2028 851 5,897.79 100% T-Note 3.5 9/30/2029 91282CLN9 US Treasury I 0.35 1.33 9/30/2024 3.510 1,000,000.00 999,530.00 995,350.00 9/30/2029 1,369 8,846.15 100% T-Note 3.625 91282CPD7 US Treasury I 0.69 2.67 10/31/2025 3.616 2,000,000.00 2,000,781.25 1,991,560.00 10/31/2030 1,765 12,216.85 10/31/2030 100% T-Note 3.625 91282CPR6 US Treasury I 0.35 1.33 12/31/2025 3.691 1,000,000.00 997,000.00 995,230.00 12/31/2030 1,826 0.00 12/31/2030 100% T-Note 3.625 3/31/2028 91282CGT2 US Treasury I 0.35 1.33 5/31/2023 3.853 1,000,000.00 990,000.00 1,002,660.00 3/31/2028 821 9,162.09 100% T-Note 3.625 3/31/2028 91282CGT2 US Treasury I 0.35 1.33 6/15/2023 3.980 1,000,000.00 984,600.00 1,002,660.00 3/31/2028 821 9,162.09 100% T-Note 3.625 3/31/2028 91282CGT2 US Treasury I 0.35 1.33 10/19/2023 4.910 1,000,000.00 949,180.00 1,002,660.00 3/31/2028 821 9,162.09 100% T-Note 3.625 5/31/2028 91282CHE4 US Treasury I 0.35 1.33 3/19/2025 4.013 1,000,000.00 988,400.00 1,002,620.00 5/31/2028 882 3,087.23 100% T-Note 3.625 8/31/2029 91282CLK5 US Treasury I 0.69 2.67 9/3/2024 3.627 2,000,000.00 1,999,843.75 1,999,680.00 8/31/2029 1,339 24,433.70 100% T-Note 3.625 8/31/2030 91282CNX5 US Treasury I 0.69 2.67 9/10/2025 3.584 2,000,000.00 2,003,687.70 1,992,900.00 8/31/2030 1,704 24,433.70 100% T-Note 3.625 9/30/2030 91282CPA3 US Treasury I 0.69 2.67 9/30/2025 3.695 2,000,000.00 1,993,671.85 1,992,260.00 9/30/2030 1,734 18,324.18 100% T-Note 3.75 12/31/2028 91282CJR3 US Treasury I 0.35 1.33 1/2/2024 3.815 1,000,000.00 997,067.49 1,005,660.00 12/31/2028 1,096 0.00 100% T-Note 3.75 12/31/2028 91282CJR3 US Treasury I 0.35 1.33 6/12/2024 4.480 1,000,000.00 970,230.00 1,005,660.00 12/31/2028 1,096 0.00 100% T-Note 3.75 12/31/2030 91282CJQ5 US Treasury I 0.35 1.33 12/10/2025 3.770 1,000,000.00 999,062.50 1,000,510.00 12/31/2030 1,826 0.00 100% 97 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest T-Note 3.75 4/15/2028 91282CMW8 US Treasury I 0.35 1.33 4/15/2025 3.760 1,000,000.00 999,726.56 1,005,200.00 4/15/2028 836 7,932.69 100% T-Note 3.75 5/31/2030 91282CHF1 US Treasury I 0.35 1.33 5/15/2025 4.150 1,000,000.00 981,940.00 1,002,460.00 5/31/2030 1,612 3,193.68 100% T-Note 3.75 6/30/2030 91282CHJ3 US Treasury I 0.35 1.33 6/17/2025 4.040 1,000,000.00 986,890.00 1,002,380.00 6/30/2030 1,642 0.00 100% T-Note 3.875 91282CFY2 US Treasury I 0.35 1.33 11/21/2024 4.271 1,000,000.00 982,265.63 1,008,360.00 11/30/2029 1,430 3,300.14 11/30/2029 100% T-Note 3.875 4/30/2030 91282CMZ1 US Treasury I 0.35 1.33 5/5/2025 3.900 1,000,000.00 998,867.19 1,007,810.00 4/30/2030 1,581 6,529.70 100% T-Note 3.875 7/15/2028 91282CNM9 US Treasury I 0.35 1.33 7/31/2025 3.835 1,000,000.00 1,001,090.00 1,008,440.00 7/15/2028 927 17,795.52 100% T-Note 3.875 7/31/2030 91282CNN7 US Treasury I 0.35 1.33 7/31/2025 3.960 1,000,000.00 996,170.01 1,007,380.00 7/31/2030 1,673 16,110.73 100% T-Note 3.875 9/30/2029 91282CFLO US Treasury I 0.35 1.33 10/8/2024 3.875 1,000,000.00 1,000,000.00 1,008,630.00 9/30/2029 1,369 9,793.96 100% T-Note 4 1/15/2027 91282CJT9 US Treasury I 0.35 1.33 1/31/2024 4.115 1,000,000.00 996,813.45 1,004,800.00 1/15/2027 380 18,369.57 100% T-Note 4 10/31/2029 91282CFT3 US Treasury I 0.35 1.33 10/31/2024 4.110 1,000,000.00 995,070.00 1,013,090.00 10/31/2029 1,400 6,740.33 100% T-Note 4 2/28/2030 91282CGQ8 US Treasury I 0.69 2.67 2/26/2025 4.140 2,000,000.00 1,987,440.00 2,025,460.00 2/28/2030 1,520 26,961.33 100% T-Note 4 3/31/2030 91282CMU2 US Treasury I 0.35 1.33 4/1/2025 3.950 1,000,000.00 1,002,265.63 1,012,730.00 3/31/2030 1,551 10,109.89 100% T-Note 4 5/31/2030 91282CNG2 US Treasury I 0.35 1.33 6/2/2025 4.060 1,000,000.00 997,304.69 1,012,730.00 5/31/2030 1,612 3,406.59 100% T-Note 4 7/31/2029 91282CLC3 US Treasury I 0.35 1.33 7/31/2024 4.134 1,000,000.00 994,000.00 1,012,930.00 7/31/2029 1,308 16,630.43 100% T-Note 4 7/31/2030 91282CHR5 US Treasury I 0.35 1.33 7/8/2025 3.965 1,000,000.00 1,001,560.00 1,012,700.00 7/31/2030 1,673 16,630.43 100% T-Note 4.125 91282CFUO US Treasury I 0.26 1.00 11/6/2023 4.524 750,000.00 739,200.00 758,317.50 10/31/2027 669 5,213.23 10/31/2027 100% T-Note 4.125 91282CFUO US Treasury I 0.35 1.33 5/31/2024 4.675 1,000,000.00 982,790.00 1,011,090.00 10/31/2027 669 6,950.97 10/31/2027 100% T-Note 4.125 91282CMA6 US Treasury I 0.35 1.33 12/2/2024 4.180 1,000,000.00 997,539.06 1,017,270.00 11/30/2029 1,430 3,513.05 11/30/2029 100% T-Note 4.125 3/31/2029 91282CKG5 US Treasury I 0.35 1.33 4/1/2024 4.210 1,000,000.00 996,200.00 1,016,560.00 3/31/2029 1,186 10,425.82 100% T-Note 4.125 6/15/2026 91282CHH7 US Treasury I 0.35 1.33 2/26/2025 4.091 1,000,000.00 1,000,380.00 1,002,780.00 6/15/2026 166 1,813.19 100% T-Note 4.125 9/30/2027 91282CFM8 US Treasury I 0.35 1.33 7/30/2024 4.150 1,000,000.00 999,210.00 1,010,700.00 9/30/2027 638 10,425.82 100% T-Note 4.25 1/31/2026 91282CJV4 US Treasury I 0.35 1.33 1/31/2024 4.330 1,000,000.00 998,482.98 1,000,400.00 1/31/2026 31 17,669.84 100% T-Note 4.25 1/31/2030 91282CMG3 US Treasury I 0.35 1.33 1/31/2025 4.330 1,000,000.00 996,437.79 1,022,230.00 1/31/2030 1,492 17,669.84 100% T-Note 4.25 6/30/2029 91282CKX8 US Treasury I 0.69 2.67 7/1/2024 4.290 2,000,000.00 1,996,433.38 2,042,260.00 6/30/2029 1,277 0.00 100% 98 Asset %of Group Settlement YTM@ Face Maturity Days To Accrued Description CUSIP/Ticker Category Portfolio Percent Date Cost Amount/Shares Cost Value Market Value Date Maturity Interest T-Note 4.375 91282CMD0 US Treasury I 0.52 2.00 12/31/2024 4.425 1,500,000.00 1,496,700.00 1,540,080.00 12/31/2029 1,461 0.00 12/31/2029 100% T-Note 4.5 5/31/2029 91282CKT7 US Treasury I 0.69 2.67 5/31/2024 4.540 2,000,000.00 1,996,484.38 2,057,500.00 5/31/2029 1,247 7,664.84 100% Sub Total / Average 25.89 100.00 3.633 75,000,000.00 74,007,146.13 75,057,775.00 1,029 526,279.22 Treasury Note Total / Average 100 3.623 289,678,666.46 288,500,830.14 290,217,421.46 611 1,806,323.44 99 City of La Quinta I CA Transactions Summary Transactions Report -Use this Group By: Action Portfolio / Report Group: All Portfolios Begin Date: 10/01/2025, End Date: 12/31/2025 YTM@ Settlement Face Description CUSIP!Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total Buy Alphabet, lnc 4.1 11/15/2030 02079KAW7 3.844 11/25/2025 11/26/2025 11/15/2030 1,000,000.00 1,011,470.00 101.147 2,277.78 1,013,747.78 Amer. Nat'I Bank of MN 3.65 02769QFW4 3.650 12/3/2025 12/23/2025 12/23/2030 249,000.00 249,000.00 100 0.00 249,000.00 12/23/2030 FHLB 3.65 10/21/2030-28 3130B8CC4 3,650 10/23/2025 10/24/2025 10/21/2030 1,000,000.00 1,000,000.00 100 101.39 1,000,101.39 Guardian Life 4.4 12/11/2030 40139LBP7 4.248 12/23/2025 12/26/2025 12/11/2030 1,000,000.00 1,006,710.00 100.671 1,834.17 1,008,544.17 Gulf Coast Bank New Orleans LA 402194GQ1 3.600 10/21/2025 10/29/2025 10/29/2030 245,000.00 245,000.00 100 0.00 245,000.00 3.6 10/29/2030 Inst. for Savings Newburyport MA 45780PDK8 3.650 10/15/2025 10/28/2025 10/28/2030 248,000.00 248,000.00 100 0.00 248,000.00 3.65 10/28/2030 Malaga Bank, FSB CA 3.6 56102ACC8 3.600 10/15/2025 10/24/2025 10/24/2030 248,000.00 248,000.00 100 0.00 248,000.00 10/24/2030 Oklahoma Educators CU 3.65 67885MAE0 3,650 9/23/2025 10/3/2025 10/4/2027 248,000.00 248,000.00 100 0.00 248,000.00 10/4/2027 Sallie Mae 3.9 12/10/2030 795451EE9 3,900 12/4/2025 12/10/2025 12/10/2030 245,000.00 245,000.00 100 0.00 245,000.00 T-Note 3.5 11/30/2030 91282CPN5 3.570 11/26/2025 12/1/2025 11/30/2030 2,000,000.00 1,993,640.00 99.682 192.31 1,993,832.31 T-Note 3.625 10/31/2030 91282CPD7 3.616 10/28/2025 10/31/2025 10/31/2030 2,000,000.00 2,000,781.25 100.039063 0.00 2,000,781.25 T-Note 3.625 12/31/2030 91282CPR6 3.691 12/26/2025 12/31/2025 12/31/2030 1,000,000.00 997,000.00 99.7 0.00 997,000.00 T-Note 3.75 12/31/2030 91282CJQ5 3.770 12/9/2025 12/10/2025 12/31/2030 1,000,000.00 999,062.50 99.90625 16,610.05 1,015,672.55 Sub Total / Average Buy 10,483,000.00 10,491,663.75 21,015.70 10,512,679.45 Interest Advantage Credit Union IA 4.45 00790UAE7 0.000 12/31/2025 12/31/2025 7/31/2028 0.00 0.00 941.08 941.08 7/31/2028 Advantage Credit Union IA 4.45 00790UAE7 0.000 11/30/2025 11/30/2025 7/31/2028 0.00 0.00 910.73 910.73 7/31/2028 Advantage Credit Union IA 4.45 00790UAE7 0.000 10/31/2025 10/31/2025 7/31/2028 0.00 0.00 941.08 941.08 7/31/2028 Affinity Bank, NA GA 4.9 3/17/2028 00833JAQ4 0.000 12/17/2025 12/17/2025 3/17/2028 0.00 0.00 998.79 998.79 Affinity Bank, NA GA 4.9 3/17/2028 00833JAQ4 0.000 11/17/2025 11/17/2025 3/17/2028 0.00 0.00 1,032.09 1,032.09 Affinity Bank, NA GA 4.9 3/17/2028 00833JAQ4 0.000 10/17/2025 10/17/2025 3/17/2028 0.00 0.00 998.79 998.79 Alabama Credit Union 5 6/22/2026 01025RAG4 0.000 12/22/2025 12/22/2025 6/22/2026 0.00 0.00 1,019.18 1,019.18 Alabama Credit Union 5 6/22/2026 01025RAG4 0.000 11/20/2025 11/20/2025 6/22/2026 0.00 0.00 1,053.15 1,053.15 Alabama Credit Union 5 6/22/2026 01025RAG4 0.000 10/20/2025 10/20/2025 6/22/2026 0.00 0.00 1,019.18 1,019.18 All In FCU AL 4.4 12/20/2027 01664MAB2 0.000 12/22/2025 12/22/2025 12/20/2027 0.00 0.00 896.88 896.88 All In FCU AL 4.4 12/20/2027 01664MAB2 0.000 11/20/2025 11/20/2025 12/20/2027 0.00 0.00 926.77 926.77 100 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total All In FCU AL 4.4 12/20/2027 01664MAB2 0.000 10/20/2025 10/20/2025 12/20/2027 0.00 0.00 896.88 896.88 Alliant Credit Union IL 5 12/30/2027 01882MAC6 0.000 12/30/2025 12/30/2025 12/30/2027 0.00 0.00 1,015.07 1,015.07 Alliant Credit Union IL 5 12/30/2027 01882MAC6 0.000 11/30/2025 11/30/2025 12/30/2027 0.00 0.00 1,048.90 1,048.90 Alliant Credit Union IL 5 12/30/2027 01882MAC6 0.000 10/30/2025 10/30/2025 12/30/2027 0.00 0.00 1,015.07 1,015.07 Altaone FCU CA 4.45 7/19/2029 02157RAA5 0.000 12/1/2025 12/1/2025 7/19/2029 0.00 0.00 910.73 910.73 Altaone FCU CA 4.45 7/19/2029 02157RAA5 0.000 11/3/2025 11/3/2025 7/19/2029 0.00 0.00 941.08 941.08 Austin Telco FCU TX 3.8 9/21/2027 052392BT3 0.000 12/1/2025 12/1/2025 9/21/2027 0.00 0.00 774.58 774.58 Austin Telco FCU TX 3.8 9/21/2027 052392BT3 0.000 11/3/2025 11/3/2025 9/21/2027 0.00 0.00 800.39 800.39 Balboa Thrift & Loan 4.4 7/19/2028 05765LBU0 0.000 12/19/2025 12/19/2025 7/19/2028 0.00 0.00 896.88 896.88 Balboa Thrift & Loan 4.4 7/19/2028 05765LBU0 0.000 11/19/2025 11/19/2025 7/19/2028 0.00 0.00 926.77 926.77 Balboa Thrift & Loan 4.4 7/19/2028 05765LBU0 0.000 10/20/2025 10/20/2025 7/19/2028 0.00 0.00 896.88 896.88 Ballston Spa Nat'I Bank NY 4.8 058723AQ0 0.000 12/24/2025 12/24/2025 11/24/2026 0.00 0.00 978.41 978.41 11/24/2026 Ballston Spa Nat'I Bank NY 4.8 058723AQ0 0.000 11/24/2025 11/24/2025 11/24/2026 0.00 0.00 1,011.02 1,011.02 11/24/2026 Ballston Spa Nat'I Bank NY 4.8 058723AQ0 0.000 10/24/2025 10/24/2025 11/24/2026 0.00 0.00 978.41 978.41 11/24/2026 Bank Five Nine WI 4.25 5/12/2028 062119BT8 0.000 12/12/2025 12/12/2025 5/12/2028 0.00 0.00 866.30 866.30 Bank Five Nine WI 4.25 5/12/2028 062119BT8 0.000 11/12/2025 11/12/2025 5/12/2028 0.00 0.00 895.18 895.18 Bank Five Nine WI 4.25 5/12/2028 062119BT8 0.000 10/14/2025 10/14/2025 5/12/2028 0.00 0.00 866.30 866.30 Bank of America 5.2 12/8/2025 06051XEF5 0.000 12/8/2025 12/8/2025 12/8/2025 0.00 0.00 6,404.55 6,404.55 Bankers Bank WI 4.15 5/24/2028 06610RCA5 0.000 12/24/2025 12/24/2025 5/24/2028 0.00 0.00 845.92 845.92 Bankers Bank WI 4.15 5/24/2028 06610RCA5 0.000 11/24/2025 11/24/2025 5/24/2028 0.00 0.00 874.12 874.12 Bankers Bank WI 4.15 5/24/2028 06610RCA5 0.000 10/24/2025 10/24/2025 5/24/2028 0.00 0.00 845.92 845.92 BankFirst Norfolk NE 4.5 6/21/2029 06644QAC5 0.000 12/22/2025 12/22/2025 6/21/2029 0.00 0.00 917.26 917.26 BankFirst Norfolk NE 4.5 6/21/2029 06644QAC5 0.000 11/21/2025 11/21/2025 6/21/2029 0.00 0.00 947.84 947.84 BankFirst Norfolk NE 4.5 6/21/2029 06644QAC5 0.000 10/21/2025 10/21/2025 6/21/2029 0.00 0.00 917.26 917.26 Baxter Credit Union IL 4.35 07181JBH6 0.000 12/22/2025 12/22/2025 8/22/2028 0.00 0.00 886.68 886.68 8/22/2028 Baxter Credit Union IL 4.35 07181JBH6 0.000 11/24/2025 11/24/2025 8/22/2028 0.00 0.00 916.24 916.24 8/22/2028 Baxter Credit Union IL 4.35 07181JBH6 0.000 10/22/2025 10/22/2025 8/22/2028 0.00 0.00 886.68 886.68 8/22/2028 BMO Bank I Operating MM BMO1851OP 0.000 12/31/2025 12/31/2025 N/A 0.00 0.00 39,935.49 39,935.49 BMO Bank I Operating MM BMO1851OP 0.000 11/28/2025 11/28/2025 N/A 0.00 0.00 15,822.47 15,822.47 BMO Bank I Operating MM BMO1851OP 0.000 10/31/2025 10/31/2025 N/A 0.00 0.00 17,476.67 17,476.67 BMW Bank North America 4 05612LFA5 0.000 11/24/2025 11/24/2025 11/23/2027 0.00 0.00 4,920.11 4,920.11 11/23/2027 BOM Bank LA 4.1 6/24/2030 09776DAV6 0.000 12/24/2025 12/24/2025 6/24/2030 0.00 0.00 835.73 835.73 BOM Bank LA 4.1 6/24/2030 09776DAV6 0.000 11/24/2025 11/24/2025 6/24/2030 0.00 0.00 863.58 863.58 BOM Bank LA 4.1 6/24/2030 09776DAV6 0.000 10/24/2025 10/24/2025 6/24/2030 0.00 0.00 835.73 835.73 101 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total Bridgewater Bank MN 4.85 108622NJ6 0.000 12/29/2025 12/29/2025 3/29/2027 0.00 0.00 988.60 988.60 3/29/2027 Bridgewater Bank MN 4.85 108622NJ6 0.000 11/30/2025 11/30/2025 3/29/2027 0.00 0.00 1,021.56 1,021.56 3/29/2027 Bridgewater Bank MN 4.85 108622NJ6 0.000 10/29/2025 10/29/2025 3/29/2027 0.00 0.00 988.60 988.60 3/29/2027 CAMP LGIP CAMP7001 0.000 12/31/2025 12/31/2025 N/A 0.00 0.00 88,140.21 88,140.21 CAMP LGIP CAMP7001 0.000 11/30/2025 11/30/2025 N/A 0.00 0.00 88,267.63 88,267.63 CAMP LGIP CAMP7001 0.000 10/31/2025 10/31/2025 N/A 0.00 0.00 106,710.68 106,710.68 Capital One, NA 1.1 11/17/2026 14042RQB0 0.000 11/17/2025 11/17/2025 11/17/2026 0.00 0.00 1,375.21 1,375.21 Carter Bank & Trust 4.55 7/5/2029 146102AS7 0.000 12/5/2025 12/5/2025 7/5/2029 0.00 0.00 927.45 927.45 Carter Bank & Trust 4.55 7/5/2029 146102AS7 0.000 11/5/2025 11/5/2025 7/5/2029 0.00 0.00 958.37 958.37 Carter Bank & Trust 4.55 7/5/2029 146102AS7 0.000 10/6/2025 10/6/2025 7/5/2029 0.00 0.00 927.45 927.45 Carter FCU LA 0.75 4/27/2026 14622LAA0 0.000 12/29/2025 12/29/2025 4/27/2026 0.00 0.00 152.88 152.88 Carter FCU LA 0.75 4/27/2026 14622LAA0 0.000 11/28/2025 11/28/2025 4/27/2026 0.00 0.00 157.97 157.97 Carter FCU LA 0.75 4/27/2026 14622LAA0 0.000 10/27/2025 10/27/2025 4/27/2026 0.00 0.00 152.88 152.88 Celtic Bank UT 3.65 9/26/2029 15118RR33 0.000 12/26/2025 12/26/2025 9/26/2029 0.00 0.00 744.00 744.00 Celtic Bank UT 3.65 9/26/2029 15118RR33 0.000 11/26/2025 11/26/2025 9/26/2029 0.00 0.00 768.80 768.80 Celtic Bank UT 3.65 9/26/2029 15118RR33 0.000 10/27/2025 10/27/2025 9/26/2029 0.00 0.00 744.00 744.00 Central Bank AK 4 5/12/2028 152577BN1 0.000 12/12/2025 12/12/2025 5/12/2028 0.00 0.00 815.34 815.34 Central Bank AK 4 5/12/2028 152577BN1 0.000 11/12/2025 11/12/2025 5/12/2028 0.00 0.00 842.52 842.52 Central Bank AK 4 5/12/2028 152577BN1 0.000 10/14/2025 10/14/2025 5/12/2028 0.00 0.00 815.34 815.34 cfsbank PA 4.7 11/30/2027 12526AAM9 0.000 11/30/2025 11/30/2025 11/30/2027 0.00 0.00 5,781.13 5,781.13 Chartway FCU VA 4.9 6/9/2026 16141BAC5 0.000 12/9/2025 12/9/2025 6/9/2026 0.00 0.00 998.79 998.79 Chartway FCU VA 4.9 6/9/2026 16141BAC5 0.000 11/10/2025 11/10/2025 6/9/2026 0.00 0.00 1,032.09 1,032.09 Chartway FCU VA 4.9 6/9/2026 16141BAC5 0.000 10/9/2025 10/9/2025 6/9/2026 0.00 0.00 998.79 998.79 CIBC Bank USA IL 4.35 5/16/2028 12547CBJ6 0.000 11/17/2025 11/17/2025 5/16/2028 0.00 0.00 5,350.62 5,350.62 Civic FCU 3.65 9/26/2028 178808AF8 0.000 12/26/2025 12/26/2025 9/26/2028 0.00 0.00 744.00 744.00 Civic FCU 3.65 9/26/2028 178808AF8 0.000 11/26/2025 11/26/2025 9/26/2028 0.00 0.00 768.80 768.80 Civic FCU 3.65 9/26/2028 178808AF8 0.000 10/27/2025 10/27/2025 9/26/2028 0.00 0.00 744.00 744.00 Comenity Capital Bank UT 2.65 20033A3A2 0.000 12/15/2025 12/15/2025 4/14/2027 0.00 0.00 540.16 540.16 4/14/2027 Comenity Capital Bank UT 2.65 20033A3A2 0.000 11/14/2025 11/14/2025 4/14/2027 0.00 0.00 558.17 558.17 4/14/2027 Comenity Capital Bank UT 2.65 20033A3A2 0.000 10/14/2025 10/14/2025 4/14/2027 0.00 0.00 540.16 540.16 4/14/2027 ConnectOne Bank NJ 0.8 20786ADL6 0.000 12/24/2025 12/24/2025 9/24/2026 0.00 0.00 163.07 163.07 9/24/2026 ConnectOne Bank NJ 0.8 20786ADL6 0.000 11/24/2025 11/24/2025 9/24/2026 0.00 0.00 168.50 168.50 9/24/2026 ConnectOne Bank NJ 0.8 20786ADL6 0.000 10/24/2025 10/24/2025 9/24/2026 0.00 0.00 163.07 163.07 9/24/2026 102 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total Connexus Credit Union WI 1.25 20825WAR1 0.000 12/31/2025 12/31/2025 12/23/2026 0.00 0.00 264.35 264.35 12/23/2026 Connexus Credit Union WI 1.25 20825WAR1 0.000 11/30/2025 11/30/2025 12/23/2026 0.00 0.00 255.82 255.82 12/23/2026 Connexus Credit Union WI 1.25 20825WAR1 0.000 10/31/2025 10/31/2025 12/23/2026 0.00 0.00 264.35 264.35 12/23/2026 Cornerstone Comm. FCU NY 3.7 21923MAB7 0.000 12/30/2025 12/30/2025 10/1/2029 0.00 0.00 754.19 754.19 10/1/2029 Cornerstone Comm. FCU NY 3.7 21923MAB7 0.000 11/30/2025 11/30/2025 10/1/2029 0.00 0.00 779.33 779.33 10/1/2029 Cornerstone Comm. FCU NY 3.7 21923MAB7 0.000 10/30/2025 10/30/2025 10/1/2029 0.00 0.00 754.19 754.19 10/1/2029 County Schools FCU CA 4.4 22258JAB7 0.000 12/30/2025 12/30/2025 9/30/2027 0.00 0.00 896.88 896.88 9/30/2027 County Schools FCU CA 4.4 22258JAB7 0.000 11/30/2025 11/30/2025 9/30/2027 0.00 0.00 926.77 926.77 9/30/2027 County Schools FCU CA 4.4 22258JAB7 0.000 10/30/2025 10/30/2025 9/30/2027 0.00 0.00 896.88 896.88 9/30/2027 Covantage Credit Union WI 4.2 22282XAD2 0.000 11/6/2025 11/6/2025 8nt2028 0.00 0.00 2,614.82 2,614.82 8nt2028 Credit Human FCU 3.6 9/29/2028 22537MAH0 0.000 12/29/2025 12/29/2025 9/29/2028 0.00 0.00 733.81 733.81 Credit Human FCU 3.6 9/29/2028 22537MAH0 0.000 11/30/2025 11/30/2025 9/29/2028 0.00 0.00 758.27 758.27 Credit Human FCU 3.6 9/29/2028 22537MAH0 0.000 10/29/2025 10/29/2025 9/29/2028 0.00 0.00 733.81 733.81 Cross River Bank NJ 4.5 4/26/2027 227563GC1 0.000 10/27/2025 10/27/2025 4/26/2027 0.00 0.00 5,505.04 5,505.04 Customers Bank PA 4.5 6/14/2028 23204HPB8 0.000 12/15/2025 12/15/2025 6/14/2028 0.00 0.00 5,505.04 5,505.04 Cy-Fair FCU TX 4.5 5/12/2028 23248UAB3 0.000 12/12/2025 12/12/2025 5/12/2028 0.00 0.00 917.26 917.26 Cy-Fair FCU TX 4.5 5/12/2028 23248UAB3 0.000 11/12/2025 11/12/2025 5/12/2028 0.00 0.00 947.84 947.84 Cy-Fair FCU TX 4.5 5/12/2028 23248UAB3 0.000 10/14/2025 10/14/2025 5/12/2028 0.00 0.00 917.26 917.26 Direct FCU MA 4.8 11/8/2027 25460FDW3 0.000 12/8/2025 12/8/2025 11/8/2027 0.00 0.00 978.41 978.41 Direct FCU MA 4.8 11/8/2027 25460FDW3 0.000 11nt2025 11nt2025 11/8/2027 0.00 0.00 1,011.02 1,011.02 Direct FCU MA 4.8 11/8/2027 25460FDW3 0.000 10nt2025 10nt2025 11/8/2027 0.00 0.00 978.41 978.41 EagleBank MD 4.05 4/16/2030 27002YHQ2 0.000 12/16/2025 12/16/2025 4/16/2030 0.00 0.00 825.53 825.53 EagleBank MD 4.05 4/16/2030 27002YHQ2 0.000 11/17/2025 11/17/2025 4/16/2030 0.00 0.00 853.05 853.05 EagleBank MD 4.05 4/16/2030 27002YHQ2 0.000 10/16/2025 10/16/2025 4/16/2030 0.00 0.00 825.53 825.53 Empower FCU NY 5.25 11/15/2028 291916AJ3 0.000 12/10/2025 12/10/2025 11/15/2028 0.00 0.00 1,065.82 1,065.82 Empower FCU NY 5.25 11/15/2028 291916AJ3 0.000 11/10/2025 11/10/2025 11/15/2028 0.00 0.00 1,101.35 1,101.35 Empower FCU NY 5.25 11/15/2028 291916AJ3 0.000 10/10/2025 10/10/2025 11/15/2028 0.00 0.00 1,065.82 1,065.82 Enterprise Bank PA 4.6 an /2029 29367RND4 0.000 12/8/2025 12/8/2025 6nt2029 0.00 0.00 937.64 937.64 Enterprise Bank PA 4.6 an /2029 29367RND4 0.000 11nt2025 11nt2025 6nt2029 0.00 0.00 968.90 968.90 Enterprise Bank PA 4.6 an /2029 29367RND4 0.000 10nt2025 10nt2025 6nt2029 0.00 0.00 937.64 937.64 Evergreen Bank Group IL 3.85 300185LM5 0.000 12/29/2025 12/29/2025 7/27/2026 0.00 0.00 784.77 784.77 7/27/2026 Evergreen Bank Group IL 3.85 300185LM5 0.000 11/28/2025 11/28/2025 7/27/2026 0.00 0.00 810.93 810.93 7/27/2026 103 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total Evergreen Bank Group IL 3.85 300185LM5 0.000 10/27/2025 10/27/2025 7/27/2026 0.00 0.00 784.77 784.77 7/27/2026 Fahey Banking Company 4.2 303117DN2 0.000 12/29/2025 12/29/2025 8/30/2027 0.00 0.00 856.11 856.11 8/30/2027 Fahey Banking Company 4.2 303117DN2 0.000 11/28/2025 11/28/2025 8/30/2027 0.00 0.00 884.65 884.65 8/30/2027 Fahey Banking Company 4.2 303117DN2 0.000 10/28/2025 10/28/2025 8/30/2027 0.00 0.00 856.11 856.11 8/30/2027 Farmers & Merchants Bank of 30781JBU3 0.000 12/5/2025 12/5/2025 7/5/2029 0.00 0.00 896.88 896.88 Colby 4.4 7/5/2029 Farmers & Merchants Bank of 30781JBU3 0.000 11/5/2025 11/5/2025 7/5/2029 0.00 0.00 926.77 926.77 Colby 4.4 7/5/2029 Farmers & Merchants Bank of 30781JBU3 0.000 10/6/2025 10/6/2025 7/5/2029 0.00 0.00 896.88 896.88 Colby 4.4 7/5/2029 FFCB 1.27 11/2/2026 3133ENCQ1 0.000 11/3/2025 11/3/2025 11/2/2026 0.00 0.00 6,350.00 6,350.00 FFCB 3.75 12nt2027 3133EN3S7 0.000 12/8/2025 12/8/2025 12nt2027 0.00 0.00 18,750.00 18,750.00 FFCB 3.875 10/15/2027 3133ERXJ5 0.000 10/15/2025 10/15/2025 10/15/2027 0.00 0.00 19,375.00 19,375.00 FFCB 3.875 12/10/2027 3133ER6Q9 0.000 12/10/2025 12/10/2025 12/10/2027 0.00 0.00 19,375.00 19,375.00 FFCB 3.875 6/8/2028 3133EPME2 0.000 12/8/2025 12/8/2025 6/8/2028 0.00 0.00 19,375.00 19,375.00 FFCB 4 11/29/2027 3133EN3H1 0.000 11/30/2025 11/30/2025 11/29/2027 0.00 0.00 20,000.00 20,000.00 FFCB 4 5/1/2030 3133ETFA0 0.000 11/3/2025 11/3/2025 5/1/2030 0.00 0.00 20,000.00 20,000.00 FFCB 4 6/17/2030 3133ETLM7 0.000 12/17/2025 12/17/2025 6/17/2030 0.00 0.00 20,000.00 20,000.00 FFCB 4.125 12/17/2029 3133ERL41 0.000 12/17/2025 12/17/2025 12/17/2029 0.00 0.00 20,625.00 20,625.00 FFCB 4.375 4/10/2029 3133ERAK7 0.000 10/10/2025 10/10/2025 4/10/2029 0.00 0.00 21,875.00 21,875.00 FFCB 4.625 11/13/2028 3133EPC45 0.000 11/13/2025 11/13/2025 11/13/2028 0.00 0.00 23,125.00 23,125.00 FHLB 0.375 12/12/2025 3130AKFA9 0.000 12/12/2025 12/12/2025 12/12/2025 0.00 0.00 937.50 937.50 FHLB 0.75 6/12/2026 3130AMFS6 0.000 12/12/2025 12/12/2025 6/12/2026 0.00 0.00 3,750.00 3,750.00 FHLB 0.95 10/13/2026-23 3130APB46 0.000 10/14/2025 10/14/2025 10/13/2026 0.00 0.00 4,750.00 4,750.00 FHLB 1.25 12/21/2026 3130AQF65 0.000 12/22/2025 12/22/2025 12/21/2026 0.00 0.00 6,250.00 6,250.00 FHLB 2.5 10/14/2025-23 3130ARGJ4 0.000 10/14/2025 10/14/2025 10/14/2025 0.00 0.00 6,250.00 6,250.00 FHLB 2.7 4/19/2027-24 3130ARGY1 0.000 10/20/2025 10/20/2025 4/19/2027 0.00 0.00 13,500.00 13,500.00 FHLB 3.3 6/28/2027-24 3130ASDV8 0.000 12/29/2025 12/29/2025 6/28/2027 0.00 0.00 4,950.00 4,950.00 FHLB 4 10/5/2029-27 3130B35F6 0.000 10/6/2025 10/6/2025 10/5/2029 0.00 0.00 20,000.00 20,000.00 FHLB 4 10/9/2026 3130B3A29 0.000 10/9/2025 10/9/2025 10/9/2026 0.00 0.00 20,000.00 20,000.00 FHLB 4.125 4/4/2030-27 3130B5SX7 0.000 10/6/2025 10/6/2025 4/4/2030 0.00 0.00 20,625.00 20,625.00 FHLB 4.3 10/23/2029-26 3130B3ES8 0.000 10/23/2025 10/23/2025 10/23/2029 0.00 0.00 21,500.00 21,500.00 FHLB 4.3 6/17/2030-27 3130B6PN0 0.000 12/17/2025 12/17/2025 6/17/2030 0.00 0.00 21,500.00 21,500.00 FHLB 4.5 12/10/2029-26 3130B46Y2 0.000 12/10/2025 12/10/2025 12/10/2029 0.00 0.00 22,500.00 22,500.00 FHLB 5.04 4/23/2029-27 3130B14L8 0.000 10/23/2025 10/23/2025 4/23/2029 0.00 0.00 22,680.00 22,680.00 FHLB Step 11/24/2026-22 3130APTV7 0.000 11/24/2025 11/24/2025 11/24/2026 0.00 0.00 5,000.00 5,000.00 FHLMC 0.55 12/30/2025 3134GXGZ1 0.000 12/30/2025 12/30/2025 12/30/2025 0.00 0.00 1,375.00 1,375.00 FHLMC 0.65 10/27/2025-21 3134GW5R3 0.000 10/27/2025 10/27/2025 10/27/2025 0.00 0.00 1,300.00 1,300.00 104 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total FHLMC 0.8 10/28/2026-21 3134GW6C5 0.000 10/28/2025 10/28/2025 10/28/2026 0.00 0.00 2,000.00 2,000.00 Fidelity Bank LA 0.7 4/30/2026 31617CAV5 0.000 12/30/2025 12/30/2025 4/30/2026 0.00 0.00 142.68 142.68 Fidelity Bank LA 0.7 4/30/2026 31617CAV5 0.000 11/30/2025 11/30/2025 4/30/2026 0.00 0.00 147.44 147.44 Fidelity Bank LA 0.7 4/30/2026 31617CAV5 0.000 10/30/2025 10/30/2025 4/30/2026 0.00 0.00 142.68 142.68 Fieldpoint Private B&T CT 4 31657FBA4 0.000 12/4/2025 12/4/2025 9/4/2026 0.00 0.00 815.34 815.34 9/4/2026 Fieldpoint Private B&T CT 4 31657FBA4 0.000 11/4/2025 11/4/2025 9/4/2026 0.00 0.00 842.52 842.52 9/4/2026 Fieldpoint Private B&T CT 4 31657FBA4 0.000 10/6/2025 10/6/2025 9/4/2026 0.00 0.00 815.34 815.34 9/4/2026 First Bank Elk River MN 4.4 31911KAK4 0.000 12/30/2025 12/30/2025 6/30/2028 0.00 0.00 896.88 896.88 6/30/2028 First Bank Elk River MN 4.4 31911KAK4 0.000 11/30/2025 11/30/2025 6/30/2028 0.00 0.00 926.77 926.77 6/30/2028 First Bank Elk River MN 4.4 31911KAK4 0.000 10/30/2025 10/30/2025 6/30/2028 0.00 0.00 896.88 896.88 6/30/2028 First Bank NJ 4.45 12/26/2025 319137CB9 0.000 12/26/2025 12/26/2025 12/26/2025 0.00 0.00 5,384.38 5,384.38 First Federal Savings IN 4.25 32021YEV1 0.000 12/9/2025 12/9/2025 7/9/2026 0.00 0.00 866.30 866.30 7/9/2026 First Federal Savings IN 4.25 32021YEV1 0.000 11/10/2025 11/10/2025 7/9/2026 0.00 0.00 895.18 895.18 7/9/2026 First Federal Savings IN 4.25 32021YEV1 0.000 10/9/2025 10/9/2025 7/9/2026 0.00 0.00 866.30 866.30 7/9/2026 First Nat'I Bank of America Ml 3. 75 32110YQ24 0.000 12/30/2025 12/30/2025 10/30/2028 0.00 0.00 764.38 764.38 10/30/2028 First Nat'I Bank of America Ml 3. 75 32110YQ24 0.000 11/30/2025 11/30/2025 10/30/2028 0.00 0.00 789.86 789.86 10/30/2028 First Nat'I Bank of America Ml 3. 75 32110YQ24 0.000 10/30/2025 10/30/2025 10/30/2028 0.00 0.00 764.38 764.38 10/30/2028 First Service CU f/k/a SPCO TX 78472EAB0 0.000 12/31/2025 12/31/2025 1/20/2028 0.00 0.00 919.94 919.94 4.35 1/20/2028 First Service CU f/k/a SPCO TX 78472EAB0 0.000 11/30/2025 11/30/2025 1/20/2028 0.00 0.00 890.26 890.26 4.35 1/20/2028 First Service CU f/k/a SPCO TX 78472EAB0 0.000 10/31/2025 10/31/2025 1/20/2028 0.00 0.00 919.94 919.94 4.35 1/20/2028 FNMA 0.5 11n/2025 3135G06G3 0.000 11n/2025 11n/2025 11n/2025 0.00 0.00 5,000.00 5,000.00 FNMA 0.56 11/17/2025-22 3135GA2Z3 0.000 11/17/2025 11/17/2025 11/17/2025 0.00 0.00 1,400.00 1,400.00 FNMA 0.6 12/23/2025-21 3135GA7D7 0.000 12/23/2025 12/23/2025 12/23/2025 0.00 0.00 1,500.00 1,500.00 FNMA 4 5/6/2030-27 3136GAGH6 0.000 11/6/2025 11/6/2025 5/6/2030 0.00 0.00 20,000.00 20,000.00 FNMA 4.25 4/8/2030-27 3136GAF20 0.000 10/8/2025 10/8/2025 4/8/2030 0.00 0.00 21,250.00 21,250.00 FNMA 4.5 5/20/2030-26 3136GAHF9 0.000 11/20/2025 11/20/2025 5/20/2030 0.00 0.00 21,500.00 21,500.00 Forbright Bank MD 4.6 11/2/2027 34520LAT0 0.000 12/2/2025 12/2/2025 11/2/2027 0.00 0.00 937.64 937.64 Forbright Bank MD 4.6 11/2/2027 34520LAT0 0.000 11/3/2025 11/3/2025 11/2/2027 0.00 0.00 968.90 968.90 Forbright Bank MD 4.6 11/2/2027 34520LAT0 0.000 10/2/2025 10/2/2025 11/2/2027 0.00 0.00 937.64 937.64 Four Points FCU 4.55 5/11/2026 35089LAF0 0.000 12/10/2025 12/10/2025 5/11/2026 0.00 0.00 927.45 927.45 105 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total Four Points FCU 4.55 5/11/2026 35089LAF0 0.000 11/10/2025 11/10/2025 5/11/2026 0.00 0.00 958.37 958.37 Four Points FCU 4.55 5/11/2026 35089LAF0 0.000 10/10/2025 10/10/2025 5/11/2026 0.00 0.00 927.45 927.45 Genesee Regional Bank NY 4.2 37173RAL7 0.000 12/29/2025 12/29/2025 12/28/2026 0.00 0.00 5,138.04 5,138.04 12/28/2026 Global FCU f/k/a Alaska USA AK 011852AE0 0.000 12/8/2025 12/8/2025 3/8/2028 0.00 0.00 937.64 937.64 4.6 3/8/2028 Global FCU f/k/a Alaska USA AK 011852AE0 0.000 11/10/2025 11/10/2025 3/8/2028 0.00 0.00 968.90 968.90 4.6 3/8/2028 Global FCU f/k/a Alaska USA AK 011852AE0 0.000 10/8/2025 10/8/2025 3/8/2028 0.00 0.00 937.64 937.64 4.6 3/8/2028 Golden State Bank CA 4.45 38120MCA2 0.000 12/22/2025 12/22/2025 6/22/2027 0.00 0.00 910.73 910.73 6/22/2027 Golden State Bank CA 4.45 38120MCA2 0.000 11/24/2025 11/24/2025 6/22/2027 0.00 0.00 941.08 941.08 6/22/2027 Golden State Bank CA 4.45 38120MCA2 0.000 10/22/2025 10/22/2025 6/22/2027 0.00 0.00 910.73 910.73 6/22/2027 Greenstate Credit Union IA 0.95 39573LBC1 0.000 12/1/2025 12/1/2025 4/16/2026 0.00 0.00 194.42 194.42 4/16/2026 Greenstate Credit Union IA 0.95 39573LBC1 0.000 11/3/2025 11/3/2025 4/16/2026 0.00 0.00 200.91 200.91 4/16/2026 Healthcare Systems FCU VA 5.1 42228LAN1 0.000 12/29/2025 12/29/2025 10/27/2028 0.00 0.00 1,039.56 1,039.56 10/27/2028 Healthcare Systems FCU VA 5.1 42228LAN1 0.000 11/28/2025 11/28/2025 10/27/2028 0.00 0.00 1,074.21 1,074.21 10/27/2028 Healthcare Systems FCU VA 5.1 42228LAN1 0.000 10/27/2025 10/27/2025 10/27/2028 0.00 0.00 1,039.56 1,039.56 10/27/2028 Ideal Credit Union MN 4.5 45157PAZ3 0.000 12/1/2025 12/1/2025 12/29/2027 0.00 0.00 917.26 917.26 12/29/2027 Ideal Credit Union MN 4.5 45157PAZ3 0.000 11/3/2025 11/3/2025 12/29/2027 0.00 0.00 947.84 947.84 12/29/2027 Inst. for Savings Newburyport MA 45780PDK8 0.000 12/29/2025 12/29/2025 10/28/2030 0.00 0.00 744.00 744.00 3.65 10/28/2030 Inst. for Savings Newburyport MA 45780PDK8 0.000 11/28/2025 11/28/2025 10/28/2030 0.00 0.00 768.80 768.80 3.65 10/28/2030 Jeep Country FCU OH 4.7 472312AA5 0.000 12/29/2025 12/29/2025 6/29/2027 0.00 0.00 958.03 958.03 6/29/2027 Jeep Country FCU OH 4.7 472312AA5 0.000 11/30/2025 11/30/2025 6/29/2027 0.00 0.00 989.96 989.96 6/29/2027 Jeep Country FCU OH 4.7 472312AA5 0.000 10/29/2025 10/29/2025 6/29/2027 0.00 0.00 958.03 958.03 6/29/2027 Knoxville TVA Employees Credit 499724AP7 0.000 12/1/2025 12/1/2025 8/25/2028 0.00 0.00 988.60 988.60 Union 4.85 8/25/202 Knoxville TVA Employees Credit 499724AP7 0.000 11/3/2025 11/3/2025 8/25/2028 0.00 0.00 1,021.56 1,021.56 Union 4.85 8/25/202 Lafayette FCU MD 4.1 3/28/2029 50625LCA9 0.000 12/29/2025 12/29/2025 3/28/2029 0.00 0.00 835.73 835.73 Lafayette FCU MD 4.1 3/28/2029 50625LCA9 0.000 11/28/2025 11/28/2025 3/28/2029 0.00 0.00 863.58 863.58 Lafayette FCU MD 4.1 3/28/2029 50625LCA9 0.000 10/28/2025 10/28/2025 3/28/2029 0.00 0.00 835.73 835.73 106 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total LAIF I City LGIP CITYLAIF3434 0.000 12/31/2025 12/31/2025 N/A 0.00 0.00 89,432.94 89,432.94 LAIF I City LGIP CITYLAIF3434 0.000 11/30/2025 11/30/2025 N/A 0.00 0.00 89,432.94 89,432.94 LAIF I City LGIP CITYLAIF3434 0.000 10/30/2025 10/30/2025 N/A 0.00 0.00 89,432.94 89,432.94 LAIF I Housing LGIP HOUSINGLAIF3005 0.000 12/31/2025 12/31/2025 N/A 0.00 0.00 8,022.71 8,022.71 LAIF I Housing LGIP HOUSINGLAIF3005 0.000 11/30/2025 11/30/2025 N/A 0.00 0.00 8,022.71 8,022.71 LAIF I Housing LGIP HOUSINGLAIF3005 0.000 10/31/2025 10/31/2025 N/A 0.00 0.00 8,022.71 8,022.71 Latino Community Credit Union NC 51828MAC8 0.000 12/22/2025 12/22/2025 12/21/2027 0.00 0.00 917.26 917.26 4.5 12/21/2027 Latino Community Credit Union NC 51828MAC8 0.000 11/21/2025 11/21/2025 12/21/2027 0.00 0.00 947.84 947.84 4.5 12/21/2027 Latino Community Credit Union NC 51828MAC8 0.000 10/21/2025 10/21/2025 12/21/2027 0.00 0.00 917.26 917.26 4.5 12/21/2027 Leaders Credit Union TN 5.1 52171MAM7 0.000 12/30/2025 12/30/2025 10/30/2028 0.00 0.00 1,039.56 1,039.56 10/30/2028 Leaders Credit Union TN 5.1 52171MAM7 0.000 11/30/2025 11/30/2025 10/30/2028 0.00 0.00 1,074.21 1,074.21 10/30/2028 Leaders Credit Union TN 5.1 52171MAM7 0.000 10/30/2025 10/30/2025 10/30/2028 0.00 0.00 1,039.56 1,039.56 10/30/2028 Legacy Bank & Trust Co. MO 4.5 52470QEC4 0.000 12/29/2025 12/29/2025 9/27/2028 0.00 0.00 917.26 917.26 9/27/2028 Legacy Bank & Trust Co. MO 4.5 52470QEC4 0.000 11/28/2025 11/28/2025 9/27/2028 0.00 0.00 947.84 947.84 9/27/2028 Legacy Bank & Trust Co. MO 4.5 52470QEC4 0.000 10/27/2025 10/27/2025 9/27/2028 0.00 0.00 917.26 917.26 9/27/2028 Legends Bank TN 3. 75 9/11/2028 52465JKL0 0.000 12/11/2025 12/11/2025 9/11/2028 0.00 0.00 764.38 764.38 Legends Bank TN 3. 75 9/11/2028 52465JKL0 0.000 11/12/2025 11/12/2025 9/11/2028 0.00 0.00 789.86 789.86 Legends Bank TN 3. 75 9/11/2028 52465JKL0 0.000 10/14/2025 10/14/2025 9/11/2028 0.00 0.00 764.38 764.38 Liberty First Credit Union NE 4.5 530520AH8 0.000 12/1/2025 12/1/2025 2/22/2028 0.00 0.00 917.26 917.26 2/22/2028 Liberty First Credit Union NE 4.5 530520AH8 0.000 11/3/2025 11/3/2025 2/22/2028 0.00 0.00 947.84 947.84 2/22/2028 Maine Community Bank 3.75 560390DC7 0.000 12/30/2025 12/30/2025 8/30/2027 0.00 0.00 764.38 764.38 8/30/2027 Maine Community Bank 3.75 560390DC7 0.000 11/30/2025 11/30/2025 8/30/2027 0.00 0.00 789.86 789.86 8/30/2027 Maine Community Bank 3.75 560390DC7 0.000 10/30/2025 10/30/2025 8/30/2027 0.00 0.00 764.38 764.38 8/30/2027 Maine Savings FCU 4.8 7/21/2028 560507AQ8 0.000 12/22/2025 12/22/2025 7/21/2028 0.00 0.00 978.41 978.41 Maine Savings FCU 4.8 7/21/2028 560507AQ8 0.000 11/21/2025 11/21/2025 7/21/2028 0.00 0.00 1,011.02 1,011.02 Maine Savings FCU 4.8 7/21/2028 560507AQ8 0.000 10/21/2025 10/21/2025 7/21/2028 0.00 0.00 978.41 978.41 Malaga Bank, FSB CA 3.6 56102ACC8 0.000 12/24/2025 12/24/2025 10/24/2030 0.00 0.00 733.81 733.81 10/24/2030 Malaga Bank, FSB CA 3.6 56102ACC8 0.000 11/24/2025 11/24/2025 10/24/2030 0.00 0.00 758.27 758.27 10/24/2030 Marathon Bank WI 1.8 3/16/2027 565819AG4 0.000 12/16/2025 12/16/2025 3/16/2027 0.00 0.00 366.90 366.90 107 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total Marathon Bank WI 1.8 3/16/2027 565819AG4 0.000 11/17/2025 11/17/2025 3/16/2027 0.00 0.00 379.13 379.13 Marathon Bank WI 1.8 3/16/2027 565819AG4 0.000 10/16/2025 10/16/2025 3/16/2027 0.00 0.00 366.90 366.90 Marine FCU NC 4 8/31/2026 56824JBC7 0.000 12/30/2025 12/30/2025 8/31/2026 0.00 0.00 815.34 815.34 Marine FCU NC 4 8/31/2026 56824JBC7 0.000 11/30/2025 11/30/2025 8/31/2026 0.00 0.00 842.52 842.52 Marine FCU NC 4 8/31/2026 56824JBC7 0.000 10/30/2025 10/30/2025 8/31/2026 0.00 0.00 815.34 815.34 Medallion Bank UT 4.85 58404DTP6 0.000 12/22/2025 12/22/2025 10/20/2028 0.00 0.00 988.60 988.60 10/20/2028 Medallion Bank UT 4.85 58404DTP6 0.000 11/20/2025 11/20/2025 10/20/2028 0.00 0.00 1,021.56 1,021.56 10/20/2028 Medallion Bank UT 4.85 58404DTP6 0.000 10/20/2025 10/20/2025 10/20/2028 0.00 0.00 988.60 988.60 10/20/2028 Merrick Bank UT 1.1 11/9/2026 59013KPN0 0.000 12/9/2025 12/9/2025 11/9/2026 0.00 0.00 225.12 225.12 Merrick Bank UT 1.1 11/9/2026 59013KPN0 0.000 11/10/2025 11/10/2025 11/9/2026 0.00 0.00 232.63 232.63 Merrick Bank UT 1.1 11/9/2026 59013KPN0 0.000 10/9/2025 10/9/2025 11/9/2026 0.00 0.00 225.12 225.12 Metro Credit Union MA 1.7 59161YAP1 0.000 12/1/2025 12/1/2025 2/18/2027 0.00 0.00 347.92 347.92 2/18/2027 Metro Credit Union MA 1.7 59161YAP1 0.000 11/3/2025 11/3/2025 2/18/2027 0.00 0.00 359.52 359.52 2/18/2027 Mid Carolina Credit Union SC 4.85 59524LAA4 0.000 12/15/2025 12/15/2025 3/13/2026 0.00 0.00 988.60 988.60 3/13/2026 Mid Carolina Credit Union SC 4.85 59524LAA4 0.000 11/13/2025 11/13/2025 3/13/2026 0.00 0.00 1,021.56 1,021.56 3/13/2026 Mid Carolina Credit Union SC 4.85 59524LAA4 0.000 10/14/2025 10/14/2025 3/13/2026 0.00 0.00 988.60 988.60 3/13/2026 Milestone Bk f/k/a LCA UT 1 501798RP9 0.000 12/29/2025 12/29/2025 6/26/2026 0.00 0.00 1,243.40 1,243.40 6/26/2026 Minnwest Bank MN 4.25 5/3/2027 60425SKB4 0.000 12/1/2025 12/1/2025 5/3/2027 0.00 0.00 866.30 866.30 Minnwest Bank MN 4.25 5/3/2027 60425SKB4 0.000 11/3/2025 11/3/2025 5/3/2027 0.00 0.00 895.18 895.18 Money One FCU MD 5 9/14/2028 60936TAL3 0.000 12/15/2025 12/15/2025 9/14/2028 0.00 0.00 1,019.18 1,019.18 Money One FCU MD 5 9/14/2028 60936TAL3 0.000 11/14/2025 11/14/2025 9/14/2028 0.00 0.00 1,053.15 1,053.15 Money One FCU MD 5 9/14/2028 60936TAL3 0.000 10/14/2025 10/14/2025 9/14/2028 0.00 0.00 1,019.18 1,019.18 Mountain American FCU 4.7 62384RAT3 0.000 12/1/2025 12/1/2025 4/28/2026 0.00 0.00 958.03 958.03 4/28/2026 Mountain American FCU 4.7 62384RAT3 0.000 11/3/2025 11/3/2025 4/28/2026 0.00 0.00 989.96 989.96 4/28/2026 MVB Bank, Inc. WV 4.05 2/1/2028 62847NEP7 0.000 12/1/2025 12/1/2025 2/1/2028 0.00 0.00 825.53 825.53 MVB Bank, Inc. WV 4.05 2/1/2028 62847NEP7 0.000 11/3/2025 11/3/2025 2/1/2028 0.00 0.00 853.05 853.05 Northpointe Bank Ml 4.85 666613MK7 0.000 12/22/2025 12/22/2025 10/20/2028 0.00 0.00 988.60 988.60 10/20/2028 Northpointe Bank Ml 4.85 666613MK7 0.000 11/20/2025 11/20/2025 10/20/2028 0.00 0.00 1,021.56 1,021.56 10/20/2028 Northpointe Bank Ml 4.85 666613MK7 0.000 10/20/2025 10/20/2025 10/20/2028 0.00 0.00 988.60 988.60 10/20/2028 Numerica CU 4.15 11/26/2029 67054NBT9 0.000 12/26/2025 12/26/2025 11/26/2029 0.00 0.00 845.92 845.92 Numerica CU 4.15 11/26/2029 67054NBT9 0.000 11/26/2025 11/26/2025 11/26/2029 0.00 0.00 874.12 874.12 108 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total Numerica CU 4.15 11/26/2029 67054NBT9 0.000 10/27/2025 10/27/2025 11/26/2029 0.00 0.00 845.92 845.92 Oklahoma Educators CU 3.65 67885MAE0 0.000 12/3/2025 12/3/2025 10/4/2027 0.00 0.00 744.00 744.00 10/4/2027 Oklahoma Educators CU 3.65 67885MAE0 0.000 11/3/2025 11/3/2025 10/4/2027 0.00 0.00 768.80 768.80 10/4/2027 Optum Bank, Inc UT 4 4/29/2030 68405V□D8 0.000 10/28/2025 10/28/2025 4/29/2030 0.00 0.00 4,913.42 4,913.42 Oregon Community Credit Union 68584JAT6 0.000 12/8/2025 12/8/2025 6nt2027 0.00 0.00 988.60 988.60 4.85 6/7/2027 Oregon Community Credit Union 68584JAT6 0.000 11/7/2025 11/7/2025 6/7/2027 0.00 0.00 1,021.56 1,021.56 4.85 6/7/2027 Oregon Community Credit Union 68584JAT6 0.000 10nt2025 10nt2025 6nt2027 0.00 0.00 988.60 988.60 4.85 6/7/2027 Pacific Crest Savings Bank WA 3.9 69417ADA4 0.000 12/16/2025 12/16/2025 8/16/2029 0.00 0.00 794.96 794.96 8/16/2029 Pacific Crest Savings Bank WA 3.9 69417ADA4 0.000 11/17/2025 11/17/2025 8/16/2029 0.00 0.00 821.46 821.46 8/16/2029 Pacific Crest Savings Bank WA 3.9 69417ADA4 0.000 10/16/2025 10/16/2025 8/16/2029 0.00 0.00 794.96 794.96 8/16/2029 Parkside Financial B&T MO 3.75 70147AGA6 0.000 12/15/2025 12/15/2025 9/13/2028 0.00 0.00 764.38 764.38 9/13/2028 Parkside Financial B&T MO 3.75 70147AGA6 0.000 11/13/2025 11/13/2025 9/13/2028 0.00 0.00 789.86 789.86 9/13/2028 Parkside Financial B&T MO 3.75 70147AGA6 0.000 10/14/2025 10/14/2025 9/13/2028 0.00 0.00 764.38 764.38 9/13/2028 Peoples Exchange Bank KY 4.15 71104AAS2 0.000 12/9/2025 12/9/2025 8/9/2027 0.00 0.00 845.92 845.92 8/9/2027 Peoples Exchange Bank KY 4.15 71104AAS2 0.000 11/10/2025 11/10/2025 8/9/2027 0.00 0.00 874.12 874.12 8/9/2027 Peoples Exchange Bank KY 4.15 71104AAS2 0.000 10/9/2025 10/9/2025 8/9/2027 0.00 0.00 845.92 845.92 8/9/2027 Ponce Bank NY 3.5 9/15/2027 732329BD8 0.000 12/15/2025 12/15/2025 9/15/2027 0.00 0.00 713.42 713.42 Ponce Bank NY 3.5 9/15/2027 732329BD8 0.000 11/17/2025 11/17/2025 9/15/2027 0.00 0.00 737.21 737.21 Ponce Bank NY 3.5 9/15/2027 732329BD8 0.000 10/15/2025 10/15/2025 9/15/2027 0.00 0.00 713.42 713.42 Prevail Bank WI 4.25 1/24/2028 887171AB2 0.000 12/24/2025 12/24/2025 1/24/2028 0.00 0.00 869.79 869.79 Prevail Bank WI 4.25 1/24/2028 887171AB2 0.000 11/24/2025 11/24/2025 1/24/2028 0.00 0.00 898.79 898.79 Prevail Bank WI 4.25 1/24/2028 887171AB2 0.000 10/24/2025 10/24/2025 1/24/2028 0.00 0.00 869.79 869.79 Riverwood Bank MN 3.85 76951DBZ2 0.000 12/11/2025 12/11/2025 3/11/2027 0.00 0.00 784.77 784.77 3/11/2027 Riverwood Bank MN 3.85 76951DBZ2 0.000 11/12/2025 11/12/2025 3/11/2027 0.00 0.00 810.93 810.93 3/11/2027 Riverwood Bank MN 3.85 76951DBZ2 0.000 10/14/2025 10/14/2025 3/11/2027 0.00 0.00 784.77 784.77 3/11/2027 Rize FCU f/k/a SCE CA 4.7 78413RAV9 0.000 12/22/2025 12/22/2025 6/20/2029 0.00 0.00 958.03 958.03 6/20/2029 Rize FCU f/k/a SCE CA 4.7 78413RAV9 0.000 11/20/2025 11/20/2025 6/20/2029 0.00 0.00 989.96 989.96 6/20/2029 109 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total Rize FCU f/k/a SCE CA4.7 78413 RAV9 0.000 10/20/2025 10/20/2025 6/20/2029 0.00 0.00 958.03 958.03 6/20/2029 Rockland FCU MA4.6 12/22/2026 77357DAD0 0.000 12/22/2025 12/22/2025 12/22/2026 0.00 0.00 937.64 937.64 Rockland FCU MA4.6 12/22/2026 77357DAD0 0.000 11/24/2025 11/24/2025 12/22/2026 0.00 0.00 968.90 968.90 Rockland FCU MA4.6 12/22/2026 77357DAD0 0.000 10/22/2025 10/22/2025 12/22/2026 0.00 0.00 937.64 937.64 San Francisco FCU CA 4.35 79772FAG1 0.000 12/3/2025 12/3/2025 2/3/2028 0.00 0.00 886.68 886.68 2/3/2028 San Francisco FCU CA 4.35 79772FAG1 0.000 11/3/2025 11/3/2025 2/3/2028 0.00 0.00 916.24 916.24 2/3/2028 San Francisco FCU CA 4.35 79772FAG1 0.000 10/3/2025 10/3/2025 2/3/2028 0.00 0.00 886.68 886.68 2/3/2028 Signature FCU VA4.4 1/31/2028 82671DAB3 0.000 12/31/2025 12/31/2025 1/31/2028 0.00 0.00 926.77 926.77 Signature FCU VA4.4 1/31/2028 82671DAB3 0.000 11/30/2025 11/30/2025 1/31/2028 0.00 0.00 896.88 896.88 Signature FCU VA4.4 1/31/2028 82671DAB3 0.000 10/31/2025 10/31/2025 1/31/2028 0.00 0.00 926.77 926.77 Simmons Bank f/k/a Landmark 51507LCC6 0.000 12/22/2025 12/22/2025 1/22/2026 0.00 0.00 101.92 101.92 Comm. 0.5 1/22/2026 Simmons Bank f/k/a Landmark 51507LCC6 0.000 11/24/2025 11/24/2025 1/22/2026 0.00 0.00 105.32 105.32 Comm. 0.5 1/22/2026 Simmons Bank f/k/a Landmark 51507LCC6 0.000 10/22/2025 10/22/2025 1/22/2026 0.00 0.00 101.92 101.92 Comm. 0.5 1/22/2026 SkyOne FCU CA 3.9 10/25/2028 83088XAR9 0.000 12/26/2025 12/26/2025 10/25/2028 0.00 0.00 794.96 794.96 SkyOne FCU CA 3.9 10/25/2028 83088XAR9 0.000 11/25/2025 11/25/2025 10/25/2028 0.00 0.00 821.46 821.46 SkyOne FCU CA 3.9 10/25/2028 83088XAR9 0.000 10/27/2025 10/27/2025 10/25/2028 0.00 0.00 794.96 794.96 SN B Bank, NAOK4.1 8/14/2028 78470M BS6 0.000 12/15/2025 12/15/2025 8/14/2028 0.00 0.00 835.73 835.73 SN B Bank, NAOK4.1 8/14/2028 78470M BS6 0.000 11/14/2025 11/14/2025 8/14/2028 0.00 0.00 863.58 863.58 SN B Bank, NAOK4.1 8/14/2028 78470M BS6 0.000 10/14/2025 10/14/2025 8/14/2028 0.00 0.00 835.73 835.73 Sound Credit Union WA4.15 83616 HAH7 0.000 12/2/2025 12/2/2025 6/2/2028 0.00 0.00 845.92 845.92 6/2/2028 Sound Credit Union WA4.15 83616 HAH7 0.000 11/3/2025 11/3/2025 6/2/2028 0.00 0.00 874.12 874.12 6/2/2028 Sound Credit Union WA4.15 83616 HAH7 0.000 10/2/2025 10/2/2025 6/2/2028 0.00 0.00 845.92 845.92 6/2/2028 Southern Bank GA 4.25 1/28/2026 84229L BA9 0.000 10/28/2025 10/28/2025 1/28/2026 0.00 0.00 5,199.21 5,199.21 Southern Bank MO 4.2 5/17/2028 843383CS7 0.000 12/17/2025 12/17/2025 5/17/2028 0.00 0.00 856.11 856.11 Southern Bank MO 4.2 5/17/2028 843383CS7 0.000 11/17/2025 11/17/2025 5/17/2028 0.00 0.00 884.65 884.65 Southern Bank MO 4.2 5/17/2028 843383CS7 0.000 10/17/2025 10/17/2025 5/17/2028 0.00 0.00 856.11 856.11 Southern Bank of TN 4.35 84229QAC5 0.000 12/12/2025 12/12/2025 7/12/2029 0.00 0.00 886.68 886.68 7/12/2029 Southern Bank of TN 4.35 84229QAC5 0.000 11/12/2025 11/12/2025 7/12/2029 0.00 0.00 916.24 916.24 7/12/2029 Southern Bank of TN 4.35 84229QAC5 0.000 10/14/2025 10/14/2025 7/12/2029 0.00 0.00 886.68 886.68 7/12/2029 Southern States Bank 4.15 843879 GS0 0.000 12/22/2025 12/22/2025 9/21/2026 0.00 0.00 845.92 845.92 9/21/2026 110 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total Southern States Bank 4.15 843879GS0 0.000 11/21/2025 11/21/2025 9/21/2026 0.00 0.00 874.12 874.12 9/21/2026 Southern States Bank 4.15 843879GS0 0.000 10/21/2025 10/21/2025 9/21/2026 0.00 0.00 845.92 845.92 9/21/2026 St. Vincent's Medical Center FCU 85279AAC6 0.000 12/16/2025 12/16/2025 6/16/2027 0.00 0.00 937.64 937.64 4.6 6/16/2027 St. Vincent's Medical Center FCU 85279AAC6 0.000 11/17/2025 11/17/2025 6/16/2027 0.00 0.00 968.90 968.90 4.6 6/16/2027 St. Vincent's Medical Center FCU 85279AAC6 0.000 10/16/2025 10/16/2025 6/16/2027 0.00 0.00 937.64 937.64 4.6 6/16/2027 Sunwest Bank 3.55 9/28/2029 86804DDG0 0.000 12/30/2025 12/30/2025 9/28/2029 0.00 0.00 723.62 723.62 Sunwest Bank 3.55 9/28/2029 86804DDG0 0.000 11/30/2025 11/30/2025 9/28/2029 0.00 0.00 747.74 747.74 Sunwest Bank 3.55 9/28/2029 86804DDG0 0.000 10/30/2025 10/30/2025 9/28/2029 0.00 0.00 723.62 723.62 Technology Credit Union CA 5 87868YAQ6 0.000 12/1/2025 12/1/2025 5/29/2026 0.00 0.00 1,019.18 1,019.18 5/29/2026 Technology Credit Union CA 5 87868YAQ6 0.000 11/3/2025 11/3/2025 5/29/2026 0.00 0.00 1,053.15 1,053.15 5/29/2026 Texas Exchange Bank 3.7 9/6/2029 88241TSW1 0.000 12/8/2025 12/8/2025 9/6/2029 0.00 0.00 754.19 754.19 Texas Exchange Bank 3.7 9/6/2029 88241TSW1 0.000 11/6/2025 11/6/2025 9/6/2029 0.00 0.00 779.33 779.33 Texas Exchange Bank 3.7 9/6/2029 88241TSW1 0.000 10/6/2025 10/6/2025 9/6/2029 0.00 0.00 754.19 754.19 The Genoa Banking Co. 4.6 372348DJ8 0.000 12/29/2025 12/29/2025 11/28/2028 0.00 0.00 937.64 937.64 11/28/2028 The Genoa Banking Co. 4.6 372348DJ8 0.000 11/28/2025 11/28/2025 11/28/2028 0.00 0.00 968.90 968.90 11/28/2028 The Genoa Banking Co. 4.6 372348DJ8 0.000 10/28/2025 10/28/2025 11/28/2028 0.00 0.00 937.64 937.64 11/28/2028 The Greenwood's State Bank WI 397417AQ9 0.000 12/17/2025 12/17/2025 5/17/2027 0.00 0.00 621.70 621.70 3.05 5/17/2027 The Greenwood's State Bank WI 397417AQ9 0.000 11/17/2025 11/17/2025 5/17/2027 0.00 0.00 642.42 642.42 3.05 5/17/2027 The Greenwood's State Bank WI 397417AQ9 0.000 10/17/2025 10/17/2025 5/17/2027 0.00 0.00 621.70 621.70 3.05 5/17/2027 The Pitney Bowes Bank, Inc UT 724468AC7 0.000 10/14/2025 10/14/2025 4/13/2028 0.00 0.00 5,321.54 5,321.54 4.35 4/13/2028 T-Note 0.25 10/31/2025 91282CAT 8 0.000 10/31/2025 10/31/2025 10/31/2025 0.00 0.00 1,250.00 1,250.00 T-Note 0.375 11/30/2025 91282CAZ4 0.000 11/30/2025 11/30/2025 11/30/2025 0.00 0.00 937.50 937.50 T-Note 0.375 12/31/2025 91282CBC4 0.000 12/31/2025 12/31/2025 12/31/2025 0.00 0.00 937.50 937.50 T-Note 0.75 5/31/2026 91282CCF6 0.000 11/30/2025 11/30/2025 5/31/2026 0.00 0.00 5,625.00 5,625.00 T-Note 1.125 10/31/2026 91282CDG3 0.000 10/31/2025 10/31/2025 10/31/2026 0.00 0.00 2,812.50 2,812.50 T-Note 2.375 4/30/2026 9128286S4 0.000 10/31/2025 10/31/2025 4/30/2026 0.00 0.00 11,875.00 11,875.00 T-Note 2.375 5/15/2027 912828X88 0.000 11/17/2025 11/17/2025 5/15/2027 0.00 0.00 11,875.00 11,875.00 T-Note 2.625 5/31/2027 91282CET 4 0.000 11/30/2025 11/30/2025 5/31/2027 0.00 0.00 19,687.50 19,687.50 T-Note 2.75 4/30/2027 91282CEN7 0.000 10/31/2025 10/31/2025 4/30/2027 0.00 0.00 6,875.00 6,875.00 T-Note 2.875 4/30/2029 91282CEM9 0.000 10/31/2025 10/31/2025 4/30/2029 0.00 0.00 14,375.00 14,375.00 T-Note 3.125 11/15/2028 9128285M8 0.000 11/17/2025 11/17/2025 11/15/2028 0.00 0.00 15,625.00 15,625.00 111 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total T-Note 3.25 6/30/2027 91282CEW7 0.000 12/31/2025 12/31/2025 6/30/2027 0.00 0.00 16,250.00 16,250.00 T-Note 3.5 4/30/2028 91282CHA2 0.000 10/31/2025 10/31/2025 4/30/2028 0.00 0.00 35,000.00 35,000.00 T-Note 3.625 5/31/2028 91282CHE4 0.000 11/30/2025 11/30/2025 5/31/2028 0.00 0.00 18,125.00 18,125.00 T-Note 3.75 12/31/2028 91282CJR3 0.000 12/31/2025 12/31/2025 12/31/2028 0.00 0.00 37,500.00 37,500.00 T-Note 3.75 12/31/2030 91282CJQ5 0.000 12/31/2025 12/31/2025 12/31/2030 0.00 0.00 18,750.00 18,750.00 T-Note 3.75 4/15/2028 91282CMW8 0.000 10/15/2025 10/15/2025 4/15/2028 0.00 0.00 18,750.00 18,750.00 T-Note 3.75 5/31/2030 91282CHF1 0.000 11/30/2025 11/30/2025 5/31/2030 0.00 0.00 18,750.00 18,750.00 T-Note 3.75 6/30/2030 91282CHJ3 0.000 12/31/2025 12/31/2025 6/30/2030 0.00 0.00 18,750.00 18,750.00 T-Note 3.875 11/30/2029 91282CFY2 0.000 11/30/2025 11/30/2025 11/30/2029 0.00 0.00 19,375.00 19,375.00 T-Note 3.875 4/30/2030 91282CMZ1 0.000 10/31/2025 10/31/2025 4/30/2030 0.00 0.00 19,375.00 19,375.00 T-Note 4 10/31/2029 91282CFT 3 0.000 10/31/2025 10/31/2025 10/31/2029 0.00 0.00 20,000.00 20,000.00 T-Note 4 5/31/2030 91282CNG2 0.000 11/30/2025 11/30/2025 5/31/2030 0.00 0.00 20,000.00 20,000.00 T-Note 4.125 10/31/2027 91282CFU0 0.000 10/31/2025 10/31/2025 10/31/2027 0.00 0.00 36,093.75 36,093.75 T-Note 4.125 11/30/2029 91282CMA6 0.000 11/30/2025 11/30/2025 11/30/2029 0.00 0.00 20,625.00 20,625.00 T-Note 4.125 6/15/2026 91282CHH7 0.000 12/15/2025 12/15/2025 6/15/2026 0.00 0.00 20,625.00 20,625.00 T-Note 4.25 6/30/2029 91282CKX8 0.000 12/31/2025 12/31/2025 6/30/2029 0.00 0.00 42,500.00 42,500.00 T-Note 4.375 12/31/2029 91282CMD0 0.000 12/31/2025 12/31/2025 12/31/2029 0.00 0.00 32,812.50 32,812.50 T-Note 4.5 5/31/2029 91282CKT7 0.000 11/30/2025 11/30/2025 5/31/2029 0.00 0.00 45,000.00 45,000.00 Toyota Financial Savings Bank NV 89235MKY6 0.000 10/22/2025 10/22/2025 4/22/2026 0.00 0.00 1,105.52 1,105.52 0.9 4/22/2026 Truliant FCU NC 4. 7 9/10/2027 89789AAG2 0.000 12/10/2025 12/10/2025 9/10/2027 0.00 0.00 958.03 958.03 Truliant FCU NC 4. 7 9/10/2027 89789AAG2 0.000 11/10/2025 11/10/2025 9/10/2027 0.00 0.00 989.96 989.96 Truliant FCU NC 4.7 9/10/2027 89789AAG2 0.000 10/10/2025 10/10/2025 9/10/2027 0.00 0.00 958.03 958.03 Tuscon FCU AZ 5 9/8/2028 898812AC6 0.000 12/8/2025 12/8/2025 9/8/2028 0.00 0.00 1,019.18 1,019.18 Tuscon FCU AZ 5 9/8/2028 898812AC6 0.000 11/10/2025 11/10/2025 9/8/2028 0.00 0.00 1,053.15 1,053.15 Tuscon FCU AZ 5 9/8/2028 898812AC6 0.000 10/8/2025 10/8/2025 9/8/2028 0.00 0.00 1,019.18 1,019.18 UBS Bank USA UT 4.9 10/25/2028 90355GHG4 0.000 12/26/2025 12/26/2025 10/25/2028 0.00 0.00 998.79 998.79 UBS Bank USA UT 4.9 10/25/2028 90355GHG4 0.000 11/25/2025 11/25/2025 10/25/2028 0.00 0.00 1,032.09 1,032.09 UBS Bank USA UT 4.9 10/25/2028 90355GHG4 0.000 10/27/2025 10/27/2025 10/25/2028 0.00 0.00 998.79 998.79 United Fidelity Bank, fsb IN 4.5 910286GN7 0.000 12/29/2025 12/29/2025 6/29/2028 0.00 0.00 917.26 917.26 6/29/2028 United Fidelity Bank, fsb IN 4.5 910286GN7 0.000 11/30/2025 11/30/2025 6/29/2028 0.00 0.00 947.84 947.84 6/29/2028 United Fidelity Bank, fsb IN 4.5 910286GN7 0.000 10/29/2025 10/29/2025 6/29/2028 0.00 0.00 917.26 917.26 6/29/2028 United Roosevelt Savings Bank NJ 91139LAB2 0.000 12/11/2025 12/11/2025 3/11/2027 0.00 0.00 387.29 387.29 1.9 3/11/2027 United Roosevelt Savings Bank NJ 91139LAB2 0.000 11/12/2025 11/12/2025 3/11/2027 0.00 0.00 400.20 400.20 1.9 3/11/2027 United Roosevelt Savings Bank NJ 91139LAB2 0.000 10/14/2025 10/14/2025 3/11/2027 0.00 0.00 387.29 387.29 1.9 3/11/2027 112 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total United Teletech FCU NJ 5.1 913065AD0 0.000 12/8/2025 12/8/2025 11/8/2027 0.00 0.00 1,039.56 1,039.56 11/8/2027 United Teletech FCU NJ 5.1 913065AD0 0.000 11/10/2025 11/10/2025 11/8/2027 0.00 0.00 1,074.21 1,074.21 11/8/2027 United Teletech FCU NJ 5.1 913065AD0 0.000 10/8/2025 10/8/2025 11/8/2027 0.00 0.00 1,039.56 1,039.56 11/8/2027 University Bank Ml 4.2 11/30/2027 914098DJ4 0.000 12/30/2025 12/30/2025 11/30/2027 0.00 0.00 859.56 859.56 University Bank Ml 4.2 11/30/2027 914098DJ4 0.000 11/30/2025 11/30/2025 11/30/2027 0.00 0.00 888.21 888.21 University Bank Ml 4.2 11/30/2027 914098DJ4 0.000 10/30/2025 10/30/2025 11/30/2027 0.00 0.00 859.56 859.56 Univest Bank & Trust Co. PA 4.35 91527PBY2 0.000 12/12/2025 12/12/2025 5/12/2028 0.00 0.00 886.68 886.68 5/12/2028 Univest Bank & Trust Co. PA 4.35 91527PBY2 0.000 11/12/2025 11/12/2025 5/12/2028 0.00 0.00 916.24 916.24 5/12/2028 Univest Bank & Trust Co. PA 4.35 91527PBY2 0.000 10/14/2025 10/14/2025 5/12/2028 0.00 0.00 886.68 886.68 5/12/2028 US Bank I Custodian MM USB3000 0.000 12/1/2025 12/1/2025 N/A 0.00 0.00 6,346.83 6,346.83 US Bank I Custodian MM USB3000 0.000 11/1/2025 11/1/2025 N/A 0.00 0.00 5,803.60 5,803.60 US Bank I Fiscal Agent MM USB4000-6000 0.000 12/31/2025 12/31/2025 N/A 0.00 0.00 102.07 102.07 US Bank I Fiscal Agent MM USB4000-6000 0.000 11/30/2025 11/30/2025 N/A 0.00 0.00 109.77 109.77 US Bank I Fiscal Agent MM USB4000-6000 0.000 10/31/2025 10/31/2025 N/A 0.00 0.00 1,656.75 1,656.75 USAlliance Financial FCU NY 4.55 90352RDB8 0.000 12/26/2025 12/26/2025 5/26/2028 0.00 0.00 927.45 927.45 5/26/2028 USAlliance Financial FCU NY 4.55 90352RDB8 0.000 11/26/2025 11/26/2025 5/26/2028 0.00 0.00 958.37 958.37 5/26/2028 USAlliance Financial FCU NY 4.55 90352RDB8 0.000 10/27/2025 10/27/2025 5/26/2028 0.00 0.00 927.45 927.45 5/26/2028 Utah First FCU 5 7/21/2028 91739JAB1 0.000 12/22/2025 12/22/2025 7/21/2028 0.00 0.00 1,006.85 1,006.85 Utah First FCU 5 7/21/2028 91739JAB1 0.000 11/21/2025 11/21/2025 7/21/2028 0.00 0.00 1,040.41 1,040.41 Utah First FCU 5 7/21/2028 91739JAB1 0.000 10/21/2025 10/21/2025 7/21/2028 0.00 0.00 1,006.85 1,006.85 Valley National Bank NJ 4.95 919853LV1 0.000 11/30/2025 11/30/2025 5/29/2026 0.00 0.00 6,088.64 6,088.64 5/29/2026 Valleystar Credit Union VA 5.2 92023CAJ2 0.000 12/8/2025 12/8/2025 11/8/2028 0.00 0.00 1,055.67 1,055.67 11/8/2028 Valleystar Credit Union VA 5.2 92023CAJ2 0.000 11/10/2025 11/10/2025 11/8/2028 0.00 0.00 1,090.86 1,090.86 11/8/2028 Valleystar Credit Union VA 5.2 92023CAJ2 0.000 10/8/2025 10/8/2025 11/8/2028 0.00 0.00 1,055.67 1,055.67 11/8/2028 Vibrant Credit Union IL 0.8 92559TAJ7 0.000 12/1/2025 12/1/2025 6/30/2026 0.00 0.00 163.73 163.73 6/30/2026 Vibrant Credit Union IL 0.8 92559TAJ7 0.000 11/3/2025 11/3/2025 6/30/2026 0.00 0.00 169.18 169.18 6/30/2026 VisionBank MN 4.05 5/12/2028 92834ABT2 0.000 12/12/2025 12/12/2025 5/12/2028 0.00 0.00 825.53 825.53 VisionBank MN 4.05 5/12/2028 92834ABT2 0.000 11/12/2025 11/12/2025 5/12/2028 0.00 0.00 853.05 853.05 VisionBank MN 4.05 5/12/2028 92834ABT2 0.000 10/14/2025 10/14/2025 5/12/2028 0.00 0.00 825.53 825.53 113 YTM@ Settlement Face Description CUSIP/Ticker Cost Trade Date Date Maturity Date Amount/Shares Principal Price Interest/Dividends Total VyStar Credit Union FL 4.55 92891CCZ3 0.000 12/1/2025 12/1/2025 3/10/2028 0.00 0.00 927.45 927.45 3/10/2028 VyStar Credit Union FL 4.55 92891CCZ3 0.000 11/3/2025 11/3/2025 3/10/2028 0.00 0.00 958.37 958.37 3/10/2028 Walmart Inc 3.7 6/26/2028-28 931142EE9 0.000 12/26/2025 12/26/2025 6/26/2028 0.00 0.00 18,500.00 18,500.00 Washington Financial Bank PA 4.5 93883MBA5 0.000 11/30/2025 11/30/2025 5/31/2029 0.00 0.00 5,505.04 5,505.04 5/31/2029 Workers FCU MA 5.2 10/30/2028 98138MCA6 0.000 12/30/2025 12/30/2025 10/30/2028 0.00 0.00 1,059.95 1,059.95 Workers FCU MA 5.2 10/30/2028 98138MCA6 0.000 11/30/2025 11/30/2025 10/30/2028 0.00 0.00 1,095.28 1,095.28 Workers FCU MA 5.2 10/30/2028 98138MCA6 0.000 10/30/2025 10/30/2025 10/30/2028 0.00 0.00 1,059.95 1,059.95 Sub Total / Average Interest 0.00 0.00 2,054,691.04 2,054,691.04 Matured Bank of America 5.2 12/8/2025 06051XEF5 0.000 12/8/2025 12/8/2025 12/8/2025 243,000.00 243,000.00 0 0.00 243,000.00 FHLB 0.375 12/12/2025 3130AKFA9 0.000 12/12/2025 12/12/2025 12/12/2025 500,000.00 500,000.00 0 0.00 500,000.00 FHLB 2.5 10/14/2025-23 3130ARGJ4 0.000 10/14/2025 10/14/2025 10/14/2025 500,000.00 500,000.00 0 0.00 500,000.00 FHLMC 0.55 12/30/2025 3134GXGZ1 0.000 12/30/2025 12/30/2025 12/30/2025 500,000.00 500,000.00 0 0.00 500,000.00 FHLMC 0.65 10/27/2025-21 3134GW5R3 0.000 10/27/2025 10/27/2025 10/27/2025 400,000.00 400,000.00 0 0.00 400,000.00 First Bank NJ 4.45 12/26/2025 319 137CB9 0.000 12/26/2025 12/26/2025 12/26/2025 244,000.00 244,000.00 0 0.00 244,000.00 FNMA 0.5 11/7/2025 3135G06G3 0.000 11/7/2025 11/7/2025 11/7/2025 1,000,000.00 1,000,000.00 0 0.00 1,000,000.00 FNMA 0.5 11/7/2025 3135G06G3 0.000 11/7/2025 11/7/2025 11/7/2025 1,000,000.00 1,000,000.00 0 0.00 1,000,000.00 FNMA 0.56 11/17/2025-22 3135GA2Z3 0.000 11/17/2025 11/17/2025 11/17/2025 500,000.00 500,000.00 0 0.00 500,000.00 FNMA 0.6 12/23/2025-21 3135GA7D7 0.000 12/23/2025 12/23/2025 12/23/2025 500,000.00 500,000.00 0 0.00 500,000.00 T-Note 0.25 10/31/2025 91282CAT8 0.000 10/31/2025 10/31/2025 10/31/2025 1,000,000.00 1,000,000.00 0 0.00 1,000,000.00 T-Note 0.375 11/30/2025 91282CAZ4 0.000 11/30/2025 11/30/2025 11/30/2025 500,000.00 500,000.00 0 0.00 500,000.00 T-Note 0.375 12/31/2025 91282CBC4 0.000 12/31/2025 12/31/2025 12/31/2025 500,000.00 500,000.00 0 0.00 500,000.00 Sub Total I Average Matured 7,387,000.00 7,387,000.00 0.00 7,387,000.00 Sell Sallie Mae Bank UT 1 7/28/2026 795451AFO 0.000 12/4/2025 12/10/2025 7/28/2026 248,000.00 243,412.00 0 917.26 244,329.26 Sub Total I Average Sell 248,000.00 243,412.00 917.26 244,329.26 114 4(JtWttw City of La Quinta I CA Portfolio Summary by Month --.AIJIFOR·. I,\ --All Portfolios Begin Date: 1/31/2025, End Date: 12/31/2025 Month Market Value Book Value Unrealized Gain/Loss YTM@Cost YTM@Market Duration Days To Maturity 1/31/2025 267,767,859.32 269,717,974.20 -1,950, 114.88 3.75 4.36 1.51 586 2/28/2025 271,655,012.62 272,806,306.29 -1, 151,293.67 3.76 4.25 1.47 572 3/31/2025 275,779,663.02 276,507,955.04 -728,292.02 3.66 4.10 1.48 575 4/30/2025 277,380,575.68 277,339,792.50 40,783.18 3.77 4.10 1.49 582 5/31/2025 280,060,147.77 280,757,904.57 -697,756.80 3.76 4.18 1.49 581 6/30/2025 301,461,949.02 301,406,768.70 55,180.32 3.76 4.05 1.41 550 7/31/2025 297,656,954.55 298,028,212.29 -371,257.74 3.67 4.02 1.55 603 8/31/2025 297,144,340.91 296,433,670.29 710,670.62 3.71 3.89 1.50 584 9/30/2025 281,497,979.77 280,674,483.92 823,495.85 3.70 3.84 1.62 630 10/31/2025 277,078,178.34 276,167,046.77 911,131.57 3.66 3.76 1.65 642 11/30/2025 275,611,756.64 274,407,169.94 1,204,586.70 3.64 3.70 1.62 631 12/31/2025 290,217,421.46 289,147,474.11 1,069,947.35 3.62 3.65 1.57 611 Total I Average 282,775,986.59 282,782,896.55 -6,909.96 3.71 3.99 1.53 595 Market Value/ Book Value Comparison -12/2025 -11/2025 10/2025 -09/2025 08/2025 07/2025 06/2025 -Market Value 05/2025 Book Value 04/2025 03/2025 02/2025 01/2025 I I I I I I I 00 50,000 100,000 150,000 200,000 250,000 300,000 350,000 In Thousands 115 4(JtWttw City of La Quinta I CA Total Rate of Return -Book Value by Month --.AIJIFOR·. I,\ --All Portfolios Begin Date: 1/31/2025, End Date: 12/31/2025 Beginning BV + Interest Earned Realized Investment Average Capital Annualized Treasury 1 Month Accrued Interest During Period-BV Gain/Loss-BV lncome-BV Base-BV TRR-BV TRR-BV Year 1/31/2025 257,764,605.76 809,155.44 0.00 809,155.44 256,445,091.75 0.32 3.85 4.18 2/28/2025 271,891,669.36 774,343.74 0.00 774,343.74 270,477,396.64 0.29 3.49 4.20 3/31/2025 275,093,078.22 885,527.35 520.23 886,047.58 277,013,375.94 0.32 3.91 4.06 4/30/2025 278,616,822.36 845,212.70 1,014.04 846,226.74 279,414,568.58 0.30 3.70 3.95 5/31/2025 279,516,839.23 876,727.11 5,680.00 882,407.11 280,086,218.94 0.32 3.85 4.08 6/30/2025 283,148,352.10 910,946.04 0.00 910,946.04 288,553,883.87 0.32 3.85 4.06 7/31/2025 302,419,111.27 909,923.72 0.00 909,923.72 300,361,848.07 0.30 3.70 4.08 8/31/2025 299,222,679.15 893,348.81 0.00 893,348.81 294,909,330.40 0.30 3.70 3.89 9/30/2025 297,778,740.48 877,414.56 0.00 877,414.56 282,986,111.90 0.31 3.78 3.66 10/31/2025 282,073,670.88 864,680.58 0.00 864,680.58 279,470,999.73 0.31 3.78 3.61 11/30/2025 277,672,078.90 817,200.48 0.00 817,200.48 274,612,199.89 0.30 3.63 3.66 12/31/2025 276,056,529.36 877,511.09 -4,588.00 872,923.09 277,170,253.09 0.31 3.85 3.54 Total/Average 257,764,605.76 10,341,991.62 2,626.27 10,344,617.89 278,548,925.90 3.71 3.71 3.91 Annualized TRR-BV 12/2025 = 11/2025 10/2025 09/2025 - 08/2025 ·- 07/2025 Portfolio 06/2025 = 05/2025 Treasury l Year 04/2025 03/2025 -02/2025 01/2025 I I I I I I I I I 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 116 --.AIJIFOR·. I,\ -- Asset Category Certificate of Deposits I 30 % Checking I Savings I Sweep Accounts Corporate Notes I 30 % Investment Pools Money Market Mutual Funds I 20 % Trusts Not Subject to Policy US Agency 1100 % US Treasury 1100 % Total/ Average City of La Quinta I CA Distribution by Asset Category -Market Value All Portfolios Asset Category Allocation Market Value % of Portfolio 9/30/2025 9/30/2025 36,676,584.86 13.03 1,597,733.83 0.57 2,515,145.00 0.89 88,435,287.89 31.42 8,653,273.65 3.07 8,710,768.04 3.09 64,036,814.00 22.75 70,872,372.50 25.18 281,497,979.77 100.00 Begin Date: 9/30/2025, End Date: 12/31/2025 Market Value % of Portfolio 12/31/2025 12/31/2025 37,375,190.41 12.88 1,688,798.02 0.58 4,528,065.00 1.56 84,113,346.18 28.98 18,316,507.37 6.31 8,829,363.48 3.04 60,308,376.00 20.78 75,057,775.00 25.86 290,217,421.46 100.00 Portfolio Holdings as of 9/30/2025 Portfolio Holdings as of 12/31/2025 13.03 %-Certificate o .. . 0.57%-Checking I Sa11 .. . 0,89%-Corporate Note ... 31.42%-In11estment Po .. . 3.07%-Money Market M .. . 3.09%-Trusts Not Sub ... • 22.75%-USAgency 11 .. , 25.18%-US Treasury 1 ... 12.88%-Certificate o .. . 0.58%-Checking I Sa11 .. . 1,56%-Corporate Note .. . 28. 98%-In11estment Po ... 6.31 %-Money Market M ... 3.04%-Trusts Not Sub ... • 20,78%-USAgency 11 .. , 25,86%-US Treasury 1 ... 117 --.AIJIFOR·. I,\ -- Maturity Range 0-1 Month 1-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years Total/ Average - 4-5 Y - 3-4 Y - 2-3 Y - 1-2 Y - 9-12 M 1 6-9 M .I - 3-6 M - 1-3 M _____...,J 0-1 M , __-- I I I 00 10,000 20,000 City of La Quinta I CA Distribution by Maturity Range -Market Value All Portfolios Maturity Range Allocation Market Value % of Portfolio 9/30/2025 9/30/2025 78,295,748.41 27.81 5,464,291.86 1.94 6,423,661.40 2.28 38,631,681.42 13.72 8,303,446.82 2.95 32,026,270.18 11.38 37,718,331.04 13.40 34,429,294.86 12.23 40,205,253.78 14.28 281,497,979.77 100.00 Portfolio Holdings ---- I I I I I 30,000 40,000 50,000 60,000 70,000 In Thousands Begin Date: 9/30/2025, End Date: 12/31/2025 Market Value % of Portfolio 12/31/2025 12/31/2025 84,437,939.49 29.09 5,466,897.33 1.88 37,185,803.07 12.81 7,135,045.36 2.46 8,843,548.38 3.05 33,092,418.13 11.40 35,995,159.71 12.40 36,470,664.65 12.57 41,589,945.34 14.33 290,217,421.46 100.00 9/30/2025 12/31/2025 ---::::I I I 80,000 90,000 118 --.AIJIFOR·. I,\ -- Portfolio Name CAMP CERBT OPEB Trust Fiscal Agent -Debt Service Fixed Income Investments Housing Authority -LQPR Housing Authority -DPME Housing Authority - LAIF LAIF Money Market at Custodian Operating Funds PARS Pension Trust Total/ Average City of La Quinta I CA Distribution by Portfolio Name -Market Value All Portfolios Portfolio Name Allocation Market Value % of Portfolio 9/30/2025 9/30/2025 61,105,856.65 21.71 2,326,100.47 0.83 34,377.98 0.01 174,100,916.36 61.85 220,133.08 0.08 1,374,300.75 0.49 2,255,988.66 0.80 25,073,442.58 8.91 1,794,454.51 0.64 6,827,741.16 2.43 6,384,667.57 2.27 281,497,979.77 100.00 Begin Date: 9/30/2025, End Date: 12/31/2025 Market Value % of Portfolio 12/31/2025 12/31/2025 56,388,975.17 19.43 2,358,622.81 0.81 36,246.57 0.01 177,269,406.41 61.08 234,927.66 0.08 1,450,570.36 0.50 2,281,206.07 0.79 25,443,164.94 8.77 361,779.14 0.12 17,921,781.66 6.18 6,470,740.67 2.23 290,217,421.46 100.00 Portfolio Holdings as of 9/30/2025 Portfolio Holdings as of 12/31/2025 , 21. 71 %-CAMP 0,83%-CERBT OPEB Ttu .. , 0,01 %-Fiscal Agent-.. , 61,85%-FiHed Income .. , 0.08%-Housing Author .. . 0.4 9%-Housing Author .. . e 0.8%-Housing Authori .. . 8,91 %-LAIF 0.64%-Money Market.a ... 2.43%-Operating Fund .. , 2,27%-PARS PensionT. .. 1 9 .43%-CAMP 0,81 %-C ERBT OPEB Ttu .. , 0,01 %-Fiscal Agent-.. , 61.08%-FiHed Income .. . 0.08%-Ho·using Author .. . 0.5%-Housing Authori .. . e 0. 79%-Housing Author .. . 8,77%-LAIF 0.12%-Money Market a ... ■6.18%-Operating Fund .. , 2.23%-PARS PensionT. .. 119 --.AIJIFOR·. I,\ -- City of La Quinta I CA Economic Indicator Treasury 1 Year vs. Treasury 5 Year Begin Date: 1/31/2025, End Date: 12/31/2025 Economic Indicator Date Treasury 1 Year Treasury 5 Year Spread 1/31/2025 4.18 4.43 0.25 2/28/2025 4.20 4.29 0.09 3/31/2025 4.06 4.04 -0.02 4/30/2025 3.95 3.91 -0.04 5/31/2025 4.08 4.03 -0.05 6/30/2025 4.06 3.96 -0.10 7/31/2025 4.08 3.95 -0.13 8/31/2025 3.89 3.79 -0.10 9/30/2025 3.66 3.66 0.00 10/31/2025 3.61 3.65 0.04 11/30/2025 3.66 3.67 0.01 12/31/2025 3.54 3.70 0.16 Economic Indicator 5.00 - 4.00 - 3.00 - 2.00 - 1.00 - 0 ,00 -t-----.,-------,------,------,------,------,-----,------.-,-----,------,----.,------, 01/2025 02/2025 03/2025 04/2025 05/2025 06/2025 07/2025 08/2025 09/2025 10/2025 11/2025 12/2025 • Treasury 1 Year Treasury 5 Year 120 --.AIJIFOR·. I,\ -- City of La Quinta I CA Economic Indicator CPI vs. Unemployment Rate Begin Date: 1/31/2025, End Date: 12/31/2025 Economic Indicator Date CPI Unemployment Rate Spread 1/31/2025 3.30 4.00 0.70 2/28/2025 3.10 4.20 1.10 3/31/2025 2.80 4.20 1.40 4/30/2025 2.80 4.20 1.40 5/31/2025 2.80 4.30 1.50 6/30/2025 2.90 4.10 1.20 7/31/2025 3.10 4.30 1.20 8/31/2025 3.10 4.30 1.20 9/30/2025 3.00 4.40 1.40 10/31/2025 2.80 4.40 1.60 11/30/2025 2.60 4.50 1.90 12/31/2025 2.60 4.40 1.80 Economic Indicator 5.00 - 4.00 - 3.00 - 2.00 - 1.00 - 0.00 -t-------,,-------,,-----,-----,-----,-----,-----,-----,-----,-----,-----,------, 01/2025 02/2025 03/2025 04/2025 05/2025 06/2025 07/2025 08/2025 09/2025 10/2025 11/2025 12/2025 ecPJ Un em p Io y me nt Rate 121 US Treasury Rates https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily treasury yield curve&field tdr date value=2025 Date 1 mo .2m.o 1 0/31 /2O2:5 4'.06 4'.04' 11128/2025 4'.05 3.99 12131/2025 3.74 3.67 5.50 5.25 5.00 4.75 4.50 4.25 4.00 3.75 3.50 3.25 3.00 2.75 3 mo 6,mo llL �-2n 2:i[ I!iJ. 10yr --3.89 3.79 3.7 3.6 3.6 3-71 3.89 4.11 3.88 3.74 3.61 3.47 3.49 3.5'9 3.78 4.02 3.67 3.59 3.48 3.47 3.55 3-73 3 .. 94 4.18 TREASURY RATES AND PORTFOLIO RETURNS --1-Yr Treasury ---5-Yr Treasury -+-Annualized Total Rate of Return -++-City Portfolio YTM .20 yr 30yr Annualized City Total Rate P:ortfa!to of Return TIMI 4.65 4.67 3.75 3.66 4.62 4.67 3.75 3.64 4.79 4.84 3.75 3.6.2 122 City of La Quinta FINANCIAL ADVISORY COMMISSION SPECIAL MEETING: April 8, 2026 STAFF REPORT AGENDA TITLE: DISCUSS PROJECTS TO BE INCLUDED IN FISCAL YEARS 2026/27 THROUGH 2030/31 CAPITAL IMPROVEMENT PROGRAM RECOMMENDATION Discuss projects to be included in fiscal years 2026/27 through 2030/31 Capital Improvement Program. EXECUTIVE SUMMARY The Capital Improvement Program (CIP) is a five-year plan for major construction projects such as bridges, streets, traffic signals, drainage facilities, landscaping, lighting, parks, and other facilities. Based upon Council and resident input over the past year, staff developed a preliminary scope and budget for various projects proposed for the fiscal year (FY) 2026/27 CIP budget. Council will be requested to appropriate funds for the FY 2026/27 CIP improvements when the operating budget and final CIP are considered in June 2026. FISCAL IMPACT This review does not include fiscal impact. Revenue sources are identified in Attachment 1. BACKGROUND/ANALYSIS Staff recommends the following projects be included in the FY 2026/27 CIP: Transportation Projects Transportation projects are generally funded through the Pavement Management Plan (General Fund), Transportation Development Impact Fees (DIF), Measure G, Measure A, and SB1 funds. STUDY SESSION ITEM NO. 3 123 2026/27 Pavement Management Plan (General Fund: $1M, Measure G: $1M) The City of La Quinta’s current 5-Year Pavement Management Plan (PMP) (Attachment 2) spans from 2021 to 2026. An updated 5-Year PMP is currently in progress and will identify the City’s required projects for FY 2026/27. Highway 111 Corridor Area Plan Implementation and Pavement Resurfacing (Measure G: $1M) This fiscal year includes funding for Adams Street Complete Streets Study. Miles Avenue Pavement Rehabilitation (General Fund: $500K, Measure A: $250K) This project was approved by Council as part of the FY 2023/24 CIP. The proposed funding includes additional construction funding for the resurfacing of Miles Avenue within City limits. Avenue 47 Pavement Rehabilitation (General Fund: $30K, Earmark Funding: $900K) This project will include the resurfacing of Avenue 47 from Washington Street to La Quinta Drive. This fiscal year will include funding for design; earmark funding is being requested for construction. Avenue 52 Pavement Rehabilitation (General Fund: $30K) This project will include the resurfacing of Avenue 52 from SilverRock Drive to Madison Street. This fiscal year will include funding for design; earmark funding is being requested for construction. Frances Hack Lane Pavement Rehabilitation (Measure A: $406K) This project will include the resurfacing of Frances Hack Lane from Avenida Bermudas to Cul-de-sac. Corporate Centre Drive Gap Closure (Transportation DIF: $500K) This project will allow closure of a critical public road link and provide an east-west parallel bypass of the adjacent Highway 11 major roadway. This will also allow the city to develop the empty lot at Corporate Centre. Earmark funding is being requested for construction. Citywide Arterial Slurry Seal Improvements (SB1: $1M) This project will allow for slurry seal improvements on arterial streets citywide noted in the updated 5-year PMP that spans from 2026 to 2031. Drainage Improvements 2627DRA Citywide Drainage Enhancements (General Fund: $477K) This project will upgrade drainage facilities for a minimum 150-year storm protection in accordance with the Focused Drainage Study. The upcoming drainage projects to be completed are Eisenhower Drive at Avenue 50 and on Avenida Bermudas and Desert Club Dr North of Calle Tampico. 124 Parks and Facilities Projects Landscape and Lighting Median Island Improvements (General Fund: $500K) This project entails refurbishing City-owned medians south of Highway 111, prioritized over five years. Staff has developed an implementation strategy that recommends priorities and landscape materials. Maintenance and Operations Yard (Measure G: $8M) This project was approved by Council as part of the 2018/19 CIP. The proposed funding includes additional construction funding for the Maintenance and Operations Yard improvements. Cultural Campus (Measure G: $4M) This project was approved by Council as part of the 2019/20 CIP. The proposed funding includes additional construction funding for the Cultural Campus site improvements. SilverRock Park Lake and Irrigation Conversion (Measure G: $1.5M) This project includes the design and construction of the lake and irrigation conversion at SilverRock Park. Recurring Maintenance Funds Americans with Disabilities Act (ADA) Accessible Ramps – Various Locations (General Fund: $20K) Citywide Preventative Maintenance Plan Improvements (Equipment Replacement Fund: $50K) Sidewalks – Various Locations (General Fund: $55K) Citywide Traffic Signal Maintenance Improvements (Measure A: $235K) Other Adjustments Citywide Miscellaneous ADA Improvements (CDBG: $157K) This is a continuation of implementing ADA improvements at City parks, buildings, intersection curb ramps and sidewalks based upon the City's ADA Transition Plan Report. Citywide Irrigation Upgrades (General Fund: $250K) This project will occur annually until all irrigation throughout the city is upgraded to be included in an electronic system. The proposed funding will allow for construction to start. Dune Palms Mobile Home Estates Improvements (Housing Authority Funds: $1M) This project includes creating a master plan and implementing the improvements at Dune Palms Mobile Estates. 125 Existing Developer Impact Fee Reimbursement Agreements (Transportation DIF: $940K) The City entered into reimbursement agreements with nine development entities that constructed improvements for the benefit of the City in anticipation of future reimbursement from development impact fees. In 2017 the Council set reimbursement priorities; 9 of 11 developers submitted the required documentation and have been included in the approved repayment plan (Attachment 3). The set reimbursement priorities are scheduled to complete the reimbursement payments by FY 2028/29. The proposed funding expedites the remaining payments and will allow the city to complete payments in the upcoming FY. Projects on the Horizon The CIP also identified future year projects, some of which are listed below:  Washington Street Pavement Rehabilitation (FY 2027/28)  Phase III Public Safety Camera System (FY 2027/28)  New Traffic Signal at Washington Street at Lake La Quinta Drive (FY 2027/28)  North La Quinta Slurry Seal Improvements/Pavement Repair (FY 2028/29)  Highway 111/Simon Drive Dual Left Turn Lanes (FY 2028/29)  Channel Lining Repairs at Highway 111 and Dune Palms Road (FY 2028/29) Staff seeks direction on all projects included in the draft CIP. After incorporating comments from Council, an updated CIP program will be presented for adoption in June. Prepared by: Carley Escarrega, Administrative Technician Approved by: Bryan McKinney, P.E., Public Works Director/City Engineer Attachments: 1. Draft FY 2026/27 through 2030/31 CIP Project Revenue Summary 2. 2021 Pavement Management - 5 Year Plan 3. DIF Reimbursement Agreement Repayment Schedule 126 CITY OF LA QUINTA CAPITAL IMPROVEMENT PROGRAM REVENUE SUMMARY Project # Project Description General Fund Operating Measure G Sales Tax Community /Cultural Center DIF SB 1 Road Maint/Rehab Transportation DIF Maintenance and Facilities DIF Measure A Other Revenue Other Revenue Source Total 2026/2027 2627ADA ADA Accessible Ramps - Various Locations 20,000 20,000 2627CPM Citywide Preventative Maintenance Plan Improvements 50,000 Equip Replacement Fund 50,000 2627PMP Pavement Management Plan Street Improvements 1,000,000 1,000,000 2,000,000 2627STI Sidewalks - Various Locations 55,000 55,000 2627TMI Citywide Traffic Signal Maintenance Improvements 235,000 235,000 2627DRA Citywide Drainage Enhancements 477,000 477,000 201702 Developer Reimbursement for DIF Eligible Improvements 939,723 939,723 201804 Landscape and Lighting Median Island Improvements 500,000 500,000 201805 Maintenance and Operations Yard 8,000,000 8,000,000 201901 Cultural Campus 4,000,000 4,000,000 201905 Highway 111 Corridor Area Plan Implementation (Funding for Adams St.)1,000,000 1,000,000 202301 Miles Avenue Pavement Rehabilitation 500,000 250,000 750,000 202415 Citywide Irrigation Upgrades 250,000 250,000 202508 Dune Palms Mobile Home Estates Improvements 1,000,000 Housing 1,000,000 202516 SilverRock Park Lake and Irrigation Conversion 1,500,000 1,500,000 202601 Avenue 47 Pavement Rehabilitation (Washington Street to La Quinta Drive) 30,000 900,000 930,000 202602 Avenue 52 Pavement Rehabilitation 30,000 30,000 202603 Frances Hack Lane Pavement Rehabilitation (Avenida Bermudas to Cul-De-Sac)405,730 405,730 202604 Corporate Centre Drive Gap Closure 500,000 500,000 202605 Citywide Arterial Slurry Seal Improvements 1,000,000 1,000,000 202606 FY 2627 Citywide Miscellaneous ADA Improvements 157,200 CDBG 157,200 0 FY 2026/2027 SUBTOTAL: 2,862,000 15,500,000 0 1,000,000 1,439,723 0 1,790,730 1,207,200 23,799,653 2027/2028 2728ADA ADA Accessible Ramps - Various Locations 20,000 20,000 2728CPM Citywide Preventative Maintenance Plan Improvements 50,000 Equip Replacement Fund 50,000 2728PMP Pavement Management Plan Street Improvements 1,000,000 1,000,000 2,000,000 2728STI Sidewalks - Various Locations 55,000 55,000 2728TMI Citywide Traffic Signal Maintenance Improvements 235,000 235,000 2728DRA Citywide Drainage Enhancements 477,000 477,000 201804 Landscape and Lighting Median Island Improvements 500,000 500,000 201905 Highway 111 Corridor Area Plan Implementation 1,000,000 1,000,000 202415 Citywide Irrigation Upgrades 250,000 250,000 202516 SilverRock Park Lake and Irrigation Conversion 2,000,000 2,000,000 202701 Washington Street Pavement Rehabilitation 3,335,000 1,000,000 1,665,361 5,000,000 Earmark 11,000,361 202702 Phase III Public Safety Camera System 3,000,000 3,000,000 202703 Washington Street at Lake La Quinta Drive (New Traffic Signal) 750,000 750,000 FY 2027/2028 SUBTOTAL: 2,302,000 10,335,000 0 1,000,000 750,000 0 1,900,361 5,050,000 21,337,361 2028/2029 2829ADA ADA Accessible Ramps - Various Locations 20,000 20,000 2829CPM Citywide Preventative Maintenance Plan Improvements 50,000 Equip Replacement Fund 50,000 2829PMP Pavement Management Plan Street Improvements 1,000,000 1,000,000 2,000,000 2829STI Sidewalks - Various Locations 55,000 55,000 2829TMI Citywide Traffic Signal Maintenance Improvements 235,000 235,000 2829DRA Citywide Drainage Enhancements 477,000 477,000 201804 Landscape and Lighting Median Island Improvements 500,000 500,000 201905 Highway 111 Corridor Area Plan Implementation 1,000,000 1,000,000 202415 Citywide Irrigation Upgrades 250,000 250,000 202601 Avenue 47 Pavement Rehabilitation (Washington Street to La Quinta Drive) 1,200,000 Earmark Funding 1,200,000 202602 Avenue 52 Pavement Rehab 1,128,502 4,500,000 Earmark Funding 202604 Corporate Centre Drive Gap Closure 1,400,000 Earmark Funding 1,400,000 202801 North La Quinta Slurry Seal Improvements/Pavement Repair 1,500,000 1,500,000 202802 Highway 111/Simon Drive Dual Left Turn Lanes 1,000,000 1,000,000 202803 Channel Lining 1,000,000 1,500,000 Earmark Funding 2,500,000 0 FY 2028/2029 SUBTOTAL: 3,302,000 2,000,000 0 2,128,502 0 0 1,735,000 8,650,000 12,187,000 ATTACHMENT 1 127 CITY OF LA QUINTA CAPITAL IMPROVEMENT PROGRAM REVENUE SUMMARY Project # Project Description General Fund Operating Measure G Sales Tax Community /Cultural Center DIF SB 1 Road Maint/Rehab Transportation DIF Maintenance and Facilities DIF Measure A Other Revenue Other Revenue Source Total 2029/2030 2930ADA ADA Accessible Ramps - Various Locations 20,000 20,000 2930CPM Citywide Preventative Maintenance Plan Improvements 50,000 Equip Replacement Fund 50,000 2930PMP Pavement Management Plan Street Improvements 1,000,000 1,000,000 2,000,000 2930STI Sidewalks - Various Locations 55,000 55,000 2930TMI Citywide Traffic Signal Maintenance Improvements 235,000 235,000 2930DRA Citywide Drainage Enhancements 477,000 477,000 201804 Landscape and Lighting Median Island Improvements 500,000 500,000 201905 Highway 111 Corridor Area Plan Implementation 1,000,000 1,000,000 202901 Avenue 58 Pavement Rehabilitation 2,300,000 Earmark Funding 0 FY 2029/2030 SUBTOTAL: 2,052,000 2,000,000 0 0 0 0 235,000 2,350,000 4,337,000 2030/2031 3031ADA ADA Accessible Ramps - Various Locations 20,000 20,000 3031CPM Citywide Preventative Maintenance Plan Improvements 50,000 Equip Replacement Fund 50,000 3031PMP Pavement Management Plan Street Improvements 1,000,000 1,000,000 2,000,000 3031STI Sidewalks - Various Locations 55,000 55,000 3031TMI Citywide Traffic Signal Maintenance Improvements 235,000 235,000 3031DRA Citywide Drainage Enhancements 477,000 477,000 201804 Landscape and Lighting Median Island Improvements 500,000 500,000 201905 Highway 111 Corridor Area Plan Implementation 1,000,000 1,000,000 0 FY 2030/2031 SUBTOTAL: 2,052,000 2,000,000 0 0 0 0 235,000 50,000 4,337,000 TOTAL FISCAL YEARS 2026/27 THROUGH 2030/31: 12,570,000 31,835,000 0 4,128,502 2,189,723 0 5,896,091 17,307,200 65,998,014 128 ATTACHMENT 2 129 DEVELOPER (RESPONSIVE / CONFIRMED) AGREEMENT DATE CIP PROJECT DESCRIPTION NTE AMOUNT TOTAL POINTS ACCRUED FY 17/18 FY 18/19 FY 19/20 FY 20/21 FY 21/22 FY 22/23 FY 23/24 FY 24/25 FY 25/26 FY 26/27 FY 27/28 FY 28/29 ND La Quinta Partners, LLC 4-Dec-07 Avenue 52 - Improved One Lane of Travel & Installed Raised/Landscaped Median $ 1,344,690 18 $ 65,455 $ 65,455 $ 66,536 $ 77,563 $ 90,000 $ 90,000 $ 101,106 $ 101,408 $ 140,021 $ 204,400 $ 225,000 $ 117,747 East of Madison, LLC 4-Dec-07 Avenue 52 - Improved One Lane of Travel & Installed 1/2 Raised/Landscaped Medi $ 669,920 17 $ 61,818 $ 61,818 $ 62,839 $ 73,254 $ 85,000 $ 85,000 $ 95,489 $ 95,775 $ 48,926 $ -$ - $ - East of Madison, LLC (Part 1)26-Jan-16 Madison Street - Improved One Lane of Travel & Installed Raised/Landscaped Med $ 976,266 14 $ 50,909 $ 50,909 $ 51,750 $ 60,327 $ 70,000 $ 70,000 $ 78,638 $ 78,873 $ 108,905 $ 158,978 $ 175,000 $ 21,976 Toll Brother's Inc. (Part 1)6-Feb-08 Avenue 50 - Installed Full Median Curb & Median Island Landscape $ 179,062 13 $ 47,273 $ 47,273 $ 48,054 $ 36,463 $ -$ - $ - $ - $ - $ - $ - $ - East of Madison, LLC (Part 2)26-Jan-16 Avenue 54 - Improved One Lane of Travel & Striped 1/2 width Painted Median $ 524,010 11 $ 40,000 $ 40,000 $ 40,661 $ 47,400 $ 55,000 $ 55,000 $ 61,787 $ 61,972 $ 85,568 $ 36,622 $ - $ - ND La Quinta Partners, LLC 26-Jan-16 Madison Street - Improved One Lane of Travel $ 418,400 11 $ 40,000 $ 40,000 $ 40,661 $ 47,400 $ 55,000 $ 55,000 $ 61,787 $ 61,972 $ 16,580 $ -$ - $ - Lennar Homes of California, Inc 6-Jun-11 Fred Waring Drive - Installed full Median Curb & Median Island Landscape $ 103,083 10 $ 36,364 $ 36,364 $ 30,356 $ -$ - $- $- $- $- $ - $- $ - Sam's Real Estate Business Trus 10-Oct-12 Dune Palms Road - Installed Full Median Curb & Median Island Landscape $ 228,697 9 $ 32,727 $ 32,727 $ 33,268 $ 38,782 $ 45,000 $ 45,000 $ 1,193 $ - $- $- $ - $ - Toll Brother's Inc. (Part 2)6-Feb-08 Avenue 52 - Median Island Improvements (Landscape Only)$ 95,596 7 $ 25,455 $ 25,455 $ 25,875 $ 18,812 $ -$- $- $- $- $- $ - $ - $ 4,539,723 110 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 400,000 $ 139,723 $Denotes the final payment due to the Developer DEVELOPER (NON-RESPONSIVE) AGREEMENT DATE CIP PROJECT DESCRIPTION NTE AMOUNT TOTAL POINTS ACCRUED Greystone Clubhouse Assoc., LL 12-Jun-08 Avenue 52 - Improved One Lane of Travel & Installed Raised/Landscaped Median $ 463,894 15 T.D. Desert Development LLP 12-Oct-06 Avenue 50 - Installed 1/2 Median Curb (with Landscape)$ 186,900 10 650,794 25 CITY OF LA QUINTA CAPITAL IMPROVEMENT PROGRAM DEVELOPER REIMBURSEMENT AGREEMENT REPAYMENT The above listed developers (two total) have not submitted the appropriate invoices or documentation, and are therefore considered as "Non‐Responsive". The repayment plan above does not include the total of the Non‐Responsive Developers ($650,794) in its total ($4,539,723). TOTAL DEVELOPER REIMBURSEMENT: TOTAL DEVELOPER REIMBURSEMENT: This repayment plan is applicable to the Developers who have submitted invoices to the City, and the City has reviewed / approved repayment. This method calculates the overall percentage based on the Total Points Accrued, and allows the Developers to receive annual payments accordingly, until the Agreement has been satisfied. The percentage of (Total Points Accrued / Total Points) was determined for each Developer Reimbursement Agreement and multiplied by an annual anticipated payment of $400,000 to determine how much each Developer shall receive each year. In the event that a Developer's Agreement was fulfilled in a year, and there was a remainder of the anticipated $400,000, a new percentage, excluding the points from the previously repaid developer, was calculated and redistributed within that same Fiscal Year. ATTACHMENT 3 130 City of La Quinta FINANCIAL ADVISORY COMMISSION SPECIAL MEETING: April 8, 2026 STAFF REPORT AGENDA TITLE: DISCUSS THE 2026 ANNUAL COMMUNITY WORKSHOP AND 2026/27 BUDGET PROCESS RECOMMENDATION Discuss the 2026 Annual Community Workshop and 2026/27 budget process. EXECUTIVE SUMMARY Annually the City hosts a community workshop to garner input on City priorities from interested parties. Approximately 65 participants attended the 2026 Community Workshop. This workshop marks the beginning of the fiscal year (FY) 2026/27 budget cycle, which includes expenses from Measure G sales tax revenue. FISCAL IMPACT – None BACKGROUND/ANALYSIS On February 11, 2026, the City hosted its Annual Community Workshop, “La Quinta Forward: Momentum and Milestones,” to review progress on previously identified community priorities, provide updates on current and future projects, and gather public input. The workshop highlighted continued advancement on key initiatives including infrastructure improvements, affordable housing, and major capital projects, while noting several completed efforts from prior years. The City reported that La Quinta remains in a strong financial position, ranking seventh out of 410 cities statewide in the California Policy Center’s Local Fiscal Heath Dashboard. Updates were provided on the SilverRock (formerly Talus) Resort project, including the court-approved sale of the property in December 2025, and ongoing housing development efforts along the Highway 111 Corridor. Overall, the workshop emphasized the City’s continued focus on strategic investment, long-term financial stability, and community engagement. The Financial Advisory Commission (Commission) provides oversight of Measure G, the City’s one percent transactions and use tax, approved by voters in November 2016. Certain priorities identified during the community workshop may be funded with current or future Measure G reserves. The annual budget process is approximately six months from January to June of each year. Multiple public meetings are held to garner community input before presentation of the final budget for adoption. The Commission is a vital part of the budget process and oversees approximately $15 million of annual revenue appropriations from Measure G sales tax. The STUDY SESSION ITEM NO. 2 131 2026/27 Budget Timeline (Attachment 1) ensures the annual budget is adopted by June 30 of each year. ALTERNATIVES – The Commission may request additional information. Prepared by: Claudia Martinez, Finance Director/City Treasurer Attachment: 1. 2026/27 Budget Timeline 132 2/11/2026 Annual Community Workshop 3/17/2026 City Council Meeting Proposed Capital Improvement Program (CIP) Study Session 4/8/2026 Financial Advisory Commission Meeting Proposed Capital Improvement Program (CIP) Study Session 5/13/2026 Financial Advisory Commission Meeting Preliminary General Fund Revenue & Expense Projections 5/19/2026 City Council Meeting Budget Study Session #1 (General Fund and Internal Service Funds focus) 6/2/2026 City Council Meeting Budget Study Session #2 (All Appropriations- General Fund, Internal Service Funds, Enterprise, and Special Revenue Funds) 6/2/2026 Housing Authority Meeting Budget Study Session #1 (Housing Funds Only) 6/10/2026 Financial Advisory Commission Meeting Final review of proposed Measure G sales tax uses 6/10/2026 Housing Commission Meeting Final Review of proposed Housing Authority Budget 6/16/2026 City Council Meeting Operating and CIP Budget Adoption 6/16/2026 Housing Authority Meeting Budget Adoption The annual budget process coordinates the allocation of city revenues for essential services such as police and fire, community programs and events, and capital improvement projects. The City invites you to participate and/or track public meetings regarding the fiscal year 2026/27 budget. Proposed public meeting dates are summarized below and as meetings occur budget information presented will be available online on a dedicated City webpage within the Finance Department at: https://www.laquintaca.gov/our-city/city-departments/finance/budget/proposed-budget-2026- 27-timeline Questions regarding the fiscal year 2026/27 budget may be directed to finance@laquintaca.gov or by calling 760-777-7055. PUBLIC MEETING DATES FISCAL YEAR 2026/27 BUDGET CITY OF LA QUINTA ATTACHMENT 1 FY 2025/26 BUDGET TIMELINE 133 134 City of La Quinta FINANCIAL ADVISORY COMMISSION SPECIAL MEETING: April 8, 2026 STAFF REPORT AGENDA TITLE: DISCUSS FISCAL YEAR 2026/27 INVESTMENT POLICY RECOMMENDATION Discuss fiscal year 2026/27 Investment Policy. EXECUTIVE SUMMARY As outlined in Section XVII of the City’s Investment Policy (Policy), and section 2.70.40 of the City of La Quinta Municipal Code, the Financial Advisory Commission (FAC) is tasked with reviewing the Policy annually. Recommended revisions are also reviewed by the City Manager and City Attorney. Under California Government Code §53646(2), an agency may annually render to the legislative body of that local agency a statement of investment policy, which shall be considered at a public meeting. The City adopts its Policy annually in June. FISCAL IMPACT – None. BACKGROUND/ANALYSIS The City has been awarded the Investment Policy Certificate of Excellence from the Association of Public Treasurers of the United States and Canada (APT US&C), and the Policy has been certified by the California Municipal Treasurers Association (CMTA). With these recognitions, the City believes the Policy is sound and generally not in need of major revisions at this time. In addition, there were no new regulatory changes in fiscal year 2025/26 that impacted the City’s policy. Therefore, staff recommends only minor grammatical or formatting changes to the Policy to enhance clarity or correct typographical errors. The proposed updates remain within the legal bounds of California Government Code (the Code), protect the safety and liquidity of the City’s investment portfolio, and allow staff to maximize yield when prudent. The edits are identified as red-lines in Attachment 1. ALTERNATIVES The policy has been recognized by APT US&C and CMTA as being comprehensive as written, and therefore no alternatives are recommended at this time. Prepared by: Rosemary Hallick, Principal Management Analyst Approved by: Claudia Martinez, Finance Director/City Treasurer Attachment: 1. Draft Investment Policy for Fiscal Year 2026/27 (red-lined) STUDY SESSION ITEM NO. 3 135 RESOLUTION NO. 20256-014 EXHIBIT A Adopted: June 1716, 20256 Fiscal Year 2025/20262026/2027 Table of Contents Section Topic Page Executive Summary 1 I General Purpose 2 II Investment Policy 2 III Scope 2 IV Objectives 3 V Maximum Maturities 5 VI Prudence 5 VII Authority 5 VIII Ethics and Conflicts of Interest 6 IX Authorized Financial Dealers and Institutions 6 X Permissible Deposits and Investments 7 XI Investment Pools 10 XII Payment and Custody 10 XIII Interest Earning Distribution Policy 11 XIV Internal Controls and Independent Auditors 11 XV Reporting Standards 12 XVI Review of Investment Portfolio 13 XVII Financial Advisory Commission – City of La Quinta 13 XVIII Investment Policy Adoption 13 Appendices Topic Page A Municipal Code Ordinance 2.70 – Financial Advisory Commission 14 B Municipal Code Ordinance 3.08 – Investment of Moneys and Funds 16 C Segregation of Major Investment Responsibilities 18 D Listing of Approved Financial Institutions 19 E Investment Management Process and Risk 20 F Glossary 22 ATTACHMENT 1 136 Page 1 of 27 CITY OF LA QUINTA Investment Policy Fiscal Year 2025/20262026/2027 EXECUTIVE SUMMARY The general purpose of this Investment Policy is to provide the rules and standards that must be followed in administering the City of La Quinta's (the “City”) deposits and investments. The City's Investment Policy conforms to all state and local statutes and applies to all deposits and investments of the City, with the exception of bond proceeds and those noted in section III herein. It is the City's policy to deposit and invest public funds in a manner that shall provide safety of principal, liquidity to meet the City’s obligations and requirements that may be reasonably anticipated, and a risk-based market rate of return. Authority to manage the City's investment portfolio is derived from the City Municipal Code. Management responsibility for the investment program is delegated to the City Treasurer, who shall establish and implement written procedures for the operation of the City's investment program consistent with the Investment Policy. The City Manager, City Treasurer, and City employees involved in the City's banking and investment process shall conduct the City's business in an ethical manner and refrain from any activity or relationship that may be, or have the appearance of, a conflict of interest. The Investment Policy shall be adopted by resolution of the La Quinta City Council on an annual basis, before the end of each fiscal year (June). 137 Page 2 of 27 City of La Quinta Statement of Investment Policy July 1, 2025 2026 through June 30, 20267 Adopted by the City Council on June 1716, 20252026 I. G ENERAL PURPOSE The general purpose of this document is to provide the rules and standards that must be followed in administering the City of La Quinta's deposits and investments. II. I NVESTMENT POLICY It is the policy of the City of La Quinta to deposit and invest public funds in a manner that shall conform to all State and local statutes governing the investment of public funds and set forth the permissible deposits and investments of the City's funds and the limitations thereon. III. S COPE Except noted below, this Investment Policy applies to all deposits and investments of the City of La Quinta, the Successor Agency to the City of La Quinta Redevelopment Agency (the Agency), and the City of La Quinta Financing Authority, and The City of La Quinta Housing AuthoritiesAuthority (the Authorities). These funds are reported in the City's Annual Comprehensive Financial Report (ACFR) and include all funds within the following fund types:  General  Special Revenue  Capital Projects  Debt Service  Enterprise  Internal Service  Trust and Agency  Any new fund types and fund(s) that may be created. Financial assets and investment activity not subject to this policy The City's Investment Policy does not apply to the following:  Cash and Investments raised from Conduit Debt Financing;  Funds held in trust in the City's name in pension or other post-retirement benefit programs;  Cash and Investments held in lieu of retention by banks or other financial institutions for construction projects;  Short or long-term loans made to other entities by the City, Authorities or Agency;  Short term (Due to/from) or long term (Advances from/to) obligations made either between the City and its funds or between the City, Authorities, and or Agency; and  Investment of bond proceeds. The City's Investment Policy shall not govern bond proceeds and bond reserve fund investments. California Code Section 138 Page 3 of 27 5922(d) governs the investment of bond proceeds and reserve funds in accordance with bond indenture provisions. Arbitrage Requirement - The US Tax Reform Act of 1986 requires the City to perform arbitrage calculations and return excess earnings to the US Treasury from investments of proceeds of tax-exempt bond issues sold after the effective date of this law. These arbitrage calculationsThe City may be contracted with an outside source to provide the necessary arbitrage calculations and technical assistance to comply with this regulation. Investable funds subject to the 1986 Tax Reform Act will be kept segregated from other funds and records will be kept in a fashion to facilitate the calculations. The City's investment position relative to the arbitrage restrictions is to continue pursuing the maximum yield on applicable investments while ensuring the safety of capital and liquidity, and to rebate excess earnings, if necessary. IV. OBJECTIVES The objectives of the City's investment activity, in order of priority and importance, are: A. Safety of Principal Safety of principal is the foremost objective of the City's investment program. Investments shall be undertaken in a manner that seeks to ensure the preservation of principal of the overall portfolio in accordance with the permissible deposits and investments. The City shall endeavor to preserve its investment principal by making only permissible deposits and investments, undertaken in a controlled manner to minimize the possibility of loss or misappropriation through malfeasance or otherwise. Investments not backed by the full faith and credit of the United States Government shall be diversified by allocating assets between different types of permissible investments, maturities, and issuers as a means to mitigate credit risk and interest rate risk. Investment in any single security type or single financial institution shall be limited to the maximum percentages and/or dollar amounts as noted in Section X. 1. Credit Risk is the risk of loss from the failure of the security issuer or backer. Credit risk may be mitigated by:  Limiting investments to investment grade securities as permitted in Section X; and  Diversification- reducing concentration risk by limiting the total amount invested in individual issuers of securities in the investment portfolio so that potential losses due to issuer failure or securities downgrades may be minimized. 2. Interest Rate Risk is the risk that market values of securities in the portfolio will decline due to changes in general interest rates. Interest rate risk may be mitigated by: 139 Page 4 of 27  Structuring the investment portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity; and  Investing operating funds primarily in shorter-term securities. 3. Liquidity Risk is the risk that a security cannot be liquidated because of its unique features or structure or because it is thinly traded. Liquidity risk is not a material issue for the City's portfolio because of the permissible deposits and investments (see Section X). A discussion of the City's investment process and risk is presented in Appendix E. B. Provide Liquidity The investment portfolio shall remain sufficiently liquid to meet all of the City's cash needs that may be reasonably anticipated. This is accomplished by structuring the portfolio so that sufficient liquid funds are available to meet anticipated demands. Furthermore, since all possible cash needs cannot be anticipated the portfolio should be diversified and consist of securities with active secondary or resale markets. The City's policy is to generally hold securities and other investments to maturity. However, securities may be sold prior to maturity under certain circumstances as follows:  A security with declining credit quality can be sold early to minimize loss of principal.  Unanticipated liquidity needs of the portfolio require that one or more securities be sold.  When a sale/repurchase is fiscally advantageous based on market conditions and fits the needs of the portfolio C. Yield a Risk-Based Market Rate of Return The City's investment portfolio shall be structured with the objective of yielding a risk-based market rate of return throughout budgetary and economic cycles, commensurate with the investment risk constraints and the cash flow needs. Return on investment is less important than the safety and liquidity objectives described above. The City's Investment Policy does not specify a single benchmark as a goal or target yield for a rate of return on its investment portfolio. The portfolio's rates of return will be influenced by several factors, including actions by the Federal Reserve Board, the marketplace, and overall economic perceptions and conditions. Performance Standards: As a basis for comparison only, the Treasurer's quarterly reports will display the rates of return on the three-month Bill, six-month Bill, the one and two-year U.S. Treasury Note, and the yield for the State Treasurer's Local Agency Investment Fund (LAIF). The Treasurer may use these or any other published rates of return that the Treasurer deems appropriate for comparison to the return on the City's investment portfolio. Commented [RH1]: Keep as is, but move to section B “Provide Liquidity” 140 Page 5 of 27 The investment portfolio shall be designed with the objective of obtaining a market rate of return throughout budgetary and economic cycles, commensurate with the investment risk constraints and the cash flow needs. V. M AXIMUM MATURITIES It is the City's policy to generally hold securities and other investments until maturity. This buy-and- hold policy shall not prevent the sale of a security as listed in section IV.B The general buy-and-hold strategy requires that the City's investment portfolio be structured so that sufficient liquid funds are available from maturing investments and other sources to meet all reasonably anticipated cash needs. The City shall follow Title 5 of the California Government Code §53601 (the “State Code”) regarding maximum maturities, in that “no investment shall be made in any security…that at the time of the investment has a term remaining to maturity in excess of five years, unless the legislative body has granted express authority to make that investment either specifically or as part of an investment program approved by the legislative body no less that three months prior to the investments”. In order to accommodate the occasional occurrence of settlement dates slightly exceeding five (5) years to final maturity, the City may invest in any security that has a maturity of five (5) years plus up to thirty (30) days from settlement date. In no case shall a forward settlement date exceed 45 days from the time of investment. VI. P RUDENCE and FIDUCIARY DUTY The City shall follow the State Code §53600.3 regarding fiduciary duty and the Prudent Investor Standard as follows: Except as provided in subdivision (a) of §27000.3, all governing bodies of local agencies or persons authorized to make investment decisions on behalf of those local agencies investing public funds pursuant to this chapter are trustees and therefore fiduciaries subject to the prudent investor standard. When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the agency. Within the limitations of this section and considering individual investments as part of an overall strategy, investments may be acquired as authorized by law. VII. A UTHORITY Authority to manage the City's investment portfolio is derived from Chapter 3.08 of the City's Municipal Code. Management responsibility for the investment program is delegated to the City Treasurer for a period of one year pursuant to State Code §53607 and the City Council's annual approval. The City Treasurer shall establish written procedures for the operation of the investment program consistent with the Investment Policy. Procedures should include reference to safekeeping, wire transfer agreements, banking service contracts, and collateral/depository agreements. Such procedures shall include explicit delegation of authority to persons responsible for investment transactions. No person may 141 Page 6 of 27 engage in an investment transaction except as provided under the terms of this Investment Policy (see Appendix C) and the procedures established by the City Treasurer. The City Treasurer shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinate officials. VIII. E THICS AND CONFLICTS OF INTEREST The City Manager, City Treasurer, and City employees involved in the City's banking and investment process shall conduct the City's business in an ethical manner and refrain from any activity or relationship that may be, or have the appearance of, a conflict of interest. The City will maintain compliance with the procedures set forth in the Conflicts of Interest and Acceptance of Gifts and other Gratuities section of the City of La Quinta Personnel Manual and the City’s Municipal Code Chapter 2.60 Conflicts of Interest. Any questionable activity or relationship shall be reported immediately; reporting must be made in accordance with the personnel policies of the City and, until resolved, the officer or employee shall refrain from participating in the City's business related to the matter. The City Manager, City Treasurer, and City employees may conduct personal business with banks, brokers, and other financial institutions that are authorized to conduct do business with the City, provided that the terms of the activityoffered to the account holder with the City are the same as those that are available to the general public in general, or to all employees as a result of contract negotiations. IX. A UTHORIZED FINANCIAL DEALERS AND INSTITUTIONS The City Treasurer maintains a listing of financial institutions which are approved for direct investment purposes, as well as a list of approved broker/dealers. 1.Broker/Dealers who desire to offer direct investment transactions must supply the City with the following, if applicable: ; Proof of Financial Industry Regulatory Authority (FINRA) Certification; Proof of State of California registration; Resume of financial broker; and Completion of the City of La Quinta Broker/Dealer Questionnaire, which contains a certification of having read the City's Investment Policy. The City Treasurer or designee shall evaluate the documentation submitted by the broker/dealer and independently verify existing reports on file for any firm and/or individual(s) conducting investment- related business. The City Treasurer or designee may also contact the following agencies during the verification process: Financial Industry Regulatory Authority (FINRA) Public Disclosure Report File (1- 800-289-9999). 142 Page 7 of 27  State of California Department of Financial Protection and Innovation (1- 866-275- 2677). A professional investment manager or management firm, if engaged by the City pursuant to Section X of this policy, may utilize their own list of approved broker/dealers on the condition that any such list is provided to the City upon request. All Broker/Dealers and financial institutions that provide investment services will be subject to City Council approval. An annual review of the financial condition and registrations of approved broker/dealers will be conducted by the City Treasurer or designee. Current audited financial statements, FINRA reporting, and/or System and Organizational Controls (SOC-1 and/or SOC-2) internal control reports may be maintained on file for each financial institution and/or broker/dealer with which the City conducts business, as applicable. Each mutual fund shall provide a prospectus and statement of additional information. 2. Financial Institutions will be required to meet the following criteria in order to receive City funds for deposit or investment (see Appendix D, "Listing of Approved Financial Institutions"):  Insurance - Public Funds shall be deposited only in financial institutions having accounts insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Share Insurance Fund (NCUSIF).  Disclosure - Each financial institution maintaining invested funds in excess of the FDIC insured amount shall furnish the City a copy of the most recent Call Report (Consolidated Reports of Condition and Income) if requested. These reports can also be found at: https://cdr.ffiec.gov/public/ManageFacsimiles.aspx The City shall not invest or deposit in excess of the FDIC insured amount in banking institutions which do not disclose to the city a current listing of securities pledged for collateralization in public monies. X. P ERMISSIBLE DEPOSITS AND INVESTMENTS It is the City’s policy to follow Title 5 of the State Code) in regard to allowable securities, and to be sufficiently diversified with regard to security type and issuer. Permissible deposits and investments, as allowed by Chapter 4, Part 1, Division 2, Title 5 (hereinafter cited by §), include, but are not limited to, the following list, (which in some instances may be more restrictive than State Code). The State Code can be directly referenced at: https://leginfo.legislature.ca.gov/ 143 Page 8 of 27 C hecking, Savings, and Sweep Accounts - The City will only maintain checking and savings accounts with state or national banks, savings associations, federal associations, and/or credit unions in accordance with §53635.2. The City may also purchase non-negotiable certificates of deposits, provided that either the combined balances at any banking institution do not exceed FDIC limits or funds are collateralized as noted below.  Collateralization: The amount of the City's deposits or investments not insured by the FDIC shall be collateralized by securities in accordance with §53652. The Treasurer may invest in an interest-bearing active deposit account as approved in §53632. The deposit account must be collateralized with securities that are in accordance with §53632.5. In addition, the market value of the collateralized securities must be maintained in accordance with §53652 and be held by a custodian in accordance with the requirements of §53656. The proportion of the City's share of the deposit account shall be determined in accordance with §53658. N egotiable Certificates of Deposit– As authorized in §53601(i), the City may invest in Negotiable Certificates of Deposits (CD) up to 30% of the overall portfolio. In no instance shall a CD or combined CDs with a single issuer exceed the FDIC or NCUSIF insurance limit of $250,000. U .S. Treasury Bills, Notes, and Bonds – As authorized in §53601(b), the City may invest in U.S. Treasury bills, notes, and bonds directly issued and backed by the full faith and credit of the U.S. Government. The City's Investment Policy provides for investments in U.S. Treasury issues of 100% of the portfolio. U .S. Government Agency Securities and Federal Government Securities – As authorized in §53601(f), the City may invest in securities issued by U.S. Government instrumentalities and agencies (commonly referred to as government sponsored enterprises or GSE's). These securities may not be backed by the full faith and credit of the U.S. Government (with the exception of Government National Mortgage Association (GNMA) securities). Examples of GSE's include Federal National Mortgage Association (FNMA), Federal Home Loan Mortgage Corporation (FHLMC), Federal Home Loan Banks (FHLB), Federal Farm Credit Banks Funding Corporation (FFCB), Federal Agricultural Mortgage Corporation (FAMC), Tennessee Valley Authority (TVA), and GNMA securities. The City's Investment Policy allows investment only in securities of GNMA, FNMA, FHLMC, FHLB, and FFCB. For Fiscal Year 2024/252026/27, the maximum face amount per issuer is $30 million and the maximum face amount per purchase is $10 million. P rime Commercial Paper – As authorized in §53601(h), a portion of the City's portfolio may be invested in commercial paper of the highest rating as provided for by a nationally recognized statistical rating organization (NRSRO) such as Moody’s, Fitch, or Standard & Poor’s (S&P). There are a number of other qualifications regarding investments in commercial paper based on the financial strength and size of the corporation and the size of the investment. The City limits on prime commercial paper are as defined in the State Code. 144 Page 9 of 27 L ocal Agency Investment Fund (LAIF) – As authorized in §16429.1 and by LAIF policies, local government agencies are each authorized to invest up to the deposit limit as designated by the California State Treasurer. The City Treasurer may not invest more than the maximum amount per account as allowed by LAIF. M oney Market Mutual Funds – As authorized in §53601(l), local agencies are authorized to invest in shares of beneficial interest issued by diversified management companies (mutual funds) in an amount not to exceed 20% of the agency's portfolio. There are a number of other qualifications and restrictions regarding allowable investments in corporate notes and shares of beneficial interest issued by mutual funds which include (1) attaining the highest ranking or the highest letter and numerical rating provided by not less than two of the three largest nationally recognized rating services, or (2) having an investment advisor registered with the Securities and Exchange Commission with not less than five years' experience investing in the securities and obligations and with assets under management in excess of five hundred million dollars ($500,000,000). C orporate Notes – As authorized in §53601(k), local agencies may invest in corporate notes. The notes must be issued by corporations organized and operating in the United States or by depository institutions licensed by the United States or any other state and operating in the United States. The City's Investment Policy allows investment in corporate notes authorized by the Government Code with the following limitations:  Maximum 30% of the portfolio;  Maturities shall not exceed five years from date of purchase;  Eligible notes shall be regularly quoted and traded in the marketplace;  Eligible notes shall be in a rating category of "AA" or better by an NRSRO;  The maximum aggregate investment in each issuer shall not exceed $5 million (PAR value), or no more than 10% of the total investment assets in the commercial paper and the medium-term notes of any single issuer whichever is less. Professionally Managed Account(s) – The City Treasurer may place the portfolio with a professional portfolio management/investment management firm (firm). The firm will be approved by the City Council based upon the City Treasurer's recommendation pursuant to completion of a public request for proposal (RFP). The firm shall have:  An established professional reputation for asset or investment management;  Knowledge and working familiarity with State and Federal laws governing and restricting the investment of public funds;  Substantial experience providing investment management services to local public agencies whose investment policies and portfolio size are similar to those of the City;  Professional liability (errors and omissions) insurance and fidelity bonding in such amounts as are required by the City; and 145 Page 10 of 27  Registration with the Securities and Exchange Commission under the Investment Advisers Act of 1940 Before engagement by the City and except as may be specifically waived or revised, the firm shall commit to adhere to the provisions of the City's Investment Policy with the following exceptions:  The firm may be granted the discretion to purchase and sell investment securities in accordance with this Investment Policy;  The firm is not required to adhere to a buy-and-hold policy; and  The firm does not need City Manager or City Treasurer approval to make permissible investments. L ocal Agency Bonds and California Local Agency Obligations Municipal Bonds – As authorized in §53601(a), (c), (d) and §53601(e), the City may invest in California local agency obligations.bonds issues by the local agency, the State of California, the other 49 states, and other local agencies within this state, §53601(a) pertains to investing in bonds issued by a local agency, or by the department, board, agency or authority of the local agency. §53601(e) pertains to investing in bonds and other defined indebtedness of any local agency, or department, board, agency or authority of the local agency within the State of California. The Agency obligationsmunicipal obligations must be invested rated in the long- term rating category of A or better by an NRSRO. In the case of an initial public offering, including refinancings, the Treasurer may purchase directly from the Bond Underwriter. In the case of secondary issues, the Treasurer will rely on the approved Broker/Dealers. XI. I NVESTMENT POOLS There are three (3) types of investment pools:  State-run pools (e.g., the Local Agency Investment Fund (LAIF));  Pools that are operated by a political subdivision where allowed by law and the political subdivision is the trustee (e.g., County Pools, and Joint Powers Authorities such as the California Asset Management Program (CAMP), CalTrust, or California Class); and  Pools that are operated for profit by third parties (e.g. money market funds). The City's Investment Policy permits investment in pools and money market funds as authorized by State Code §16429.1, §53601(l) and §53601(p). XII. PAYMENT AND CUSTODY The City shall engage qualified third-party custodians to act in a fiduciary capacity to maintain appropriate evidence of the City's ownership of securities and other eligible investments. Such custodians shall disburse funds received from the City for a purchase to the broker, dealer or seller only after receiving evidence that the City has legal, record ownership of the securities. 146 Page 11 of 27 Even though ownership is evidenced in book-entry form rather than by actual certificates, this procedure is commonly referred to as the delivery versus payment (DVP) method for the transfer of securities. XIII. I NTEREST EARNING DISTRIBUTION POLICY Interest earnings are generated from pooled investments and specific investments. The following provisions apply to the calculation and distribution of interest earnings. 1. Pooled Investments – It is the general policy of the City to pool all available operating cash of the City of La Quinta, Successor Agency to the City of La Quinta Redevelopment Agency, La Quinta Financing Authority, and La Quinta Housing Authority, and to allocate interest earnings as a payment to each fund of an amount based on the month-end cash balance included in the common portfolio for the earning period. 2. Specific Investments – Specific investments purchased by a fund shall incur all earnings and expenses to that particular fund. XIV. I NTERNAL CONTROLS AND INDEPENDENT AUDITOR The City Treasurer shall establish a system of internal controls to accomplish the following objectives:  Safeguard assets;  The orderly and efficient conduct of its business, including adherence to management policies;  Prevention or detection of errors and fraud;  The accuracy and completeness of accounting records; and  Timely preparation of reliable financial information. While no internal control system, however elaborate, can guarantee absolute assurance that the City's assets are safeguarded, it is the intent of the City's internal control to provide a reasonable assurance that management of the investment function meets the City's objectives. The internal controls system shall address the following:  C ontrol of collusion. Collusion is a situation where two or more employees are working in conjunction to defraud their employer.  Separation of transaction authority from accounting and record keeping. By separating the person who authorizes or performs the transaction from the people who record or otherwise account for the transaction, a separation of duties is achieved.  C ustodial safekeeping. Securities purchased from any bank or dealer including appropriate collateral (as defined by State Law) shall be placed with an independent third party for custodial safekeeping.  A voidance of physical delivery securities. Book entry securities are much easier to transfer and account for since actual delivery of a document never takes 147 Page 12 of 27 place. Delivered securities must be properly safeguarded against loss or destruction. The potential for fraud and loss increases with physically delivered securities. Clear delegation of authority to subordinate staff members. Subordinate staff members must have a clear understanding of their authority and responsibilities to avoid improper actions. Clear delegation of authority also preserves the internal control structure that is contingent on the various staff positions and their respective responsibilities as outlined in the Segregation of Major Investment Responsibilities (Appendix C). Written confirmation of telephone transactions for investments and wire transfers. Due to the potential for error and improprieties arising from telephone transactions, all telephone transactions shall be supported by written communications or electronic confirmations and approved by the appropriate person. Written communications may be via fax or email if on letterhead and the safekeeping institution has a list of authorized signatures. Fax correspondence must be supported by evidence of verbal or written follow- up. Development of a wire transfer agreement with the City's bank and third-party custodian. This agreement should outline the various controls, security provisions, and delineate responsibilities of each party making and receiving wire transfers. The system of internal controls developed by the City shall be reviewed annually by the independent auditor in connection with the annual audit of the City's Financial Statements. The independent auditor's letter on internal control over financial reporting and compliance as it pertains to cash and investments, if any, shall be directed to the City Manager who will direct the City Treasurer to provide a written response to the independent auditor's letter. The auditor's letter, as it pertains to cash and investment activities, and the City Treasurer's response shall be provided to the City's Financial Advisory Commission for their consideration. Following the completion of each annual audit, the independent auditor shall meet with the Financial Advisory Commission and discuss the auditing procedures performed and the review of internal controls for over cash and investment activities. See Appendix C, "Segregation of Major Investment Responsibilities." XV. R EPORTING STANDARDS The City Treasurer shall submit a quarterly Treasurer’s Report to the City Council and the Financial Advisory Commission that includes all cash and investments under the authority of the Treasurer. In addition, the City Treasurer or designee shall ensure all investment transactions are reported on at least a monthly basis as they occur throughout the quarter. The Treasurer's Report shall summarize cash and investment activity and changes in balances and include the following: A certification by the City Treasurer; A listing of purchases and sales/maturities of investments; 148 Page 13 of 27  Cash and Investments categorized by authorized investments; LAIF will also be provided quarterly and show yield and maturity;  Comparison of month-end actual holdings to Investment Policy limitations;  A two-year list of historical interest rates. XVI. R EVIEW OF INVESTMENT PORTFOLIO The securities held by the City must be in compliance with this Policy at the time of purchase. Due to market conditions, some securities may no longer comply subsequent to the date of purchase, therefore a formal quarterly review of the portfolio will be conducted to identify any securities which may have fallen out of compliance. Additionally, staff will monitor monthly statements, financial news, market updates, custodial bank corporate actions notices and/or any other information available that may communicate current ratings or credit quality of investments. Any major incidences of noncompliance identified during such review will be reported to the Financial Advisory Commission for confirmation of staff course of action. XVII. F INANCIAL ADVISORY COMMISSION - CITY OF LA QUINTA The Financial Advisory Commission (FAC) is composed of seven members from the public that are appointed by the City Council. The FAC’s membership, qualifications, and powers and duties are prescribed in Chapter 2.70 of the La Quinta Municipal Code and included in this policy as Appendix A. On an annual basis, in conjunction with the Political Reform Act disclosure statutes, or at any time if a change in circumstances warrants, each commissioner will provide the City Council with a disclosure statement which identifies any matters that have a bearing on the appropriateness of that member's service on the FAC. All commissioners shall report annually to the City Clerk on Form 700, Statement of Economic Interests, any activities, interests, or relationships that may be, or have the appearance of, a conflict of interest. XVIII. I NVESTMENT POLICY ADOPTION The City's Investment Policy will be reviewed annually by the City's Financial Advisory Commission and the City Treasurer. The Financial Advisory Commission will forward the Investment Policy with any revisions to the City Manager and City Attorney for their review and comment. A joint meeting will be held with the Financial Advisory Commission, City Manager, City Attorney, and City Treasurer to review the Investment Policy and any comments prior to submission to the City Council for their consideration. The Investment Policy shall be adopted by resolution of the City Council annually before the end of June of each year. 149 Page 14 of 27 City of La Quinta Municipal Code Chapter 2.70 FINANCIAL ADVISORY COMMISSION 2.70.010 General rules regarding the financial advisory commission. Except as set out below, see Chapter 2.06 for general provisions. 2.70.020 Number of members. The financial advisory commission ("FAC") shall initially consist of seven members appointed by, and serving at the will of, the city council. The city council may increase or decrease the number of members from time to time but in no event shall the membership exceed nine members or be less than five members. 2.70.30 Qualifications of members. A. In addition to the qualification requirements set forth in Section 2.06.040 of this code, a minimum of three of the members shall be finance professionals and shall have a verifiable background in finance and/or securities, preferably with knowledge and/or experience in markets, financial controls and accounting for securities. B. For those applying for the professional position, background information will be requested, and potential candidates must agree to a background check and verification by the city manager or designee. 2.70.40 Powers and duties. A. The principal functions of the FAC are: 1. Review at least annually the city's investment policy and recommend appropriate changes; 2. Review at least quarterly the treasury report and note compliance with the investment policy and adequacy of cash and investments for anticipated obligations; 3. Receive and consider other reports provided by the city treasurer; 4. Meet with the independent auditor after completion of the annual audit of the city's financial statements, and receive and consider the auditor's comments on auditing procedures, internal controls, and findings for cash and investment activities; 5. Review at least annually the revenue derived from the one percent (1%) transactions and use tax instituted by voters in November 2016 to ensure these funds are used to provide services, programs and capital projects in the city of La Quinta. APPENDIX A 150 Page 15 of 27 6. Serve as a resource for the city treasurer on matters such as proposed investments, internal controls, use of or change of financial institutions, custodians, brokers and dealers. B. The FAC will report to the city council after each meeting either in person or through correspondence at a regular city council meeting. (Ord. 556 § 1, 2017) 2.70.050 References to the Investment Advisory Board. If any other chapter(s) or section(s) in this code refers to the Investment Advisory Board, that chapter(s) or section(s) shall be deemed to refer to the Financial Advisory Commission established by the ordinance amending chapter 2.70 of this code. 151 Page 16 of 27 City of La Quinta Municipal Code Chapter 3.08 INVESTMENT OF MONEYS AND FUNDS 3.08.010 Investment of city moneys and deposit of securities. Pursuant to, and in accordance with, and to the extent allowed by Sections 53607 and 53608 of the California Government Code, the authority to invest and reinvest moneys of the city, to sell or exchange securities, and to deposit them and provide for their safekeeping, is delegated to the city treasurer, which, for purposes of this chapter, is defined in Section 2.12.010 of this code. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.020 Authorized investments. Pursuant to the delegation of authority in Section 3.08.010, the city treasurer is authorized to purchase, at their original sale or after they have been issued, securities which are permissible investments under the city council adopted city investment policy and any provision of state law relating to the investing of general city funds, including, but not limited to, Sections 53601 and 53635 of the California Government Code, as said sections now read or may hereafter be amended, from moneys in the city treasurer's custody which are not required for the immediate necessities of the city and as he or she may deem wise and expedient, and to sell or exchange for other eligible securities and reinvest the proceeds of the securities so purchased. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.030 Sales of Securities. From time to time the city treasurer shall sell the securities in which city moneys have been invested pursuant to this chapter, so that the proceeds may, as appropriate, be applied to the purchase for which the original purchase money may have been designated or placed in the city treasury. (Ord.2 § 1 1982) 3.08.040 City bonds. Bonds issued by the city and purchased pursuant to this chapter may be cancelled either in satisfaction of sinking fund obligations or otherwise if proper and appropriate; provided, however, that the bonds may be held uncancelled and while so held may be resold. (Ord. 2 § 1 (part), 1982) 3.08.050 Reports. The city treasurer shall make a quarterly report to the city council of all investments made pursuant to the authority delegated in this chapter and as permitted by Section 53646(b)(1) of the Government Code. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.060 Deposits of securities. Pursuant to the delegation of authority in Section 3.08.010, the city treasurer is authorized to deposit for safekeeping, the securities in which city moneys have been invested pursuant to this chapter, in any institution or depository authorized by the city council adopted investment policy and terms of any state law, including, but not limited to, Section 53608 of the Government Code, as it now reads or may hereafter be amended. In accordance with said section, the city treasurer shall take from the institution or depository a receipt for the securities so deposited and shall not be responsible for the securities delivered to and receipted for by the institution or depository APPENDIX B 152 Page 17 of 27 until they are withdrawn therefrom by the city treasurer. (Ord. 529 § 1, 2015; Ord. 2 § 1, 1982) 3.08.070 Trust fund administration. Any departmental trust fund established by the city council pursuant to Section 36523 of the Government Code shall be administered by the city treasurer in accordance with Section 36523 and 36524 of the Government Code and any other applicable provisions of law. (Ord. 2 § 1, 1982) 153 Page 18 of 27 SEGREGATION OF MAJOR INVESTMENT RESPONSIBILITIES Function Responsible Parties Develop and recommend modifications to the City's formal Investment Policy City Treasurer, Principal Management Analyst, and Financial Advisory Commission Review City's Investment Policy and recommend City Council action City Manager and City Attorney Adopt formal Investment Policy City Council Implement formal Investment Policy City Treasurer Review financial institutions and select investments City Treasurer or Principal Management Analyst Acknowledge investment selections City Manager or his/her designee Execute investment transactions City Manager, City Treasurer, or Principal Management Analyst Confirm wires Finance Manager, Senior Accountant, or Administrative Technician Record investment transactions in City's accounting records Finance Manager or Senior Accountant Investment certification- match broker confirmation to City's investment records City Treasurer or Principal Management Analyst Reconcile investment records to accounting records and bank statements Principal Management Analyst Reconcile investment records to treasurer's report of investments City Treasurer, Finance Manager or Principal Management Analyst Security of investments at City Finance Manager or Administrative Technician Security of investments outside of City Third Party Custodian Review internal control procedures External Auditor APPENDIX C 154 Page 19 of 27 Listing of Approved Financial Institutions Banking Services Custodian Services Deferred Compensation Broker/Dealer Services Government/Joint Powers Authority Pools Trustee Services Other Post Employment Benefits (OPEB) Trust Pension Trust - Administration -Sunwest Bank, Irvine, CA (Banking Services - Dune Palms Mobile Estates) -BMO Commercial Bank -Stifel -U.S. Bank Trust Company, N.A. -International City/County Management Association Retirement Corporation (ICMA-RC) dba MissionSquare Retirement -Stifel, Nicholaus, & Company, Inc. -Higgins Capital Management, Inc. -Great Pacific Securities -State of California Local Agency Investment Fund (LAIF) -California Asset Management Program (CAMP) -County of Riverside Pooled Investment Fund(1) -U.S. Bank Trust Company, NA(2) -California Employers' Retirement Benefits Trust (CERBT)/CalPERS -Public Agency Retirement Services (PARS) (1)The County of Riverside Treasurer maintains one Pooled Investment Fund for all local jurisdictions having funds on deposit in the County Treasury. The City’s fire funds, which are property taxes collected to fund fire services in the City, are kept in reserve with the County to be used as expenses are incurred. (2) U.S. Bank is the fiscal agent for the following bonds: 2016 and 2021 Successor Agency to the La Quinta Redevelopment Agency (RDA) Bonds. As of March 2024, U.S. Bank is the custodian for the City's investment portfolio. U.S. Bank is also the trustee and asset custodian for the PARS pension trust and the CAMP pool.. APPENDIX D 155 Page 20 of 27 INVESTMENT MANAGEMENT PROCESS AND RISK Except as provided for in Section 27000.3, Government Code Section 53600.3 declares as a trustee each person, treasurer, or governing body authorized to make investment decisions on behalf of local agencies. Trustees are subject to the prudent investor standard. These persons shall act with care, skill, prudence, and diligence under the circumstances then prevailing when investing, reinvesting, purchasing, acquiring, exchanging, selling, and managing funds. Section 53600.5 further stipulates that the primary objective of any person investing public funds is to safeguard principal; secondly, to meet liquidity needs of the depositor; and lastly, to achieve a return or yield on invested funds (Government Code Section 27000.5 specifies the same objectives for county treasurers and board of supervisors). Risk is inherent throughout the investment process. There is investment risk associated with any investment activity and opportunity risk related to inactivity. Market risk is derived from exposure to overall changes in the general level of interest rates while credit risk is the risk of loss due to the failure of the insurer of a security. The market value of a security varies inversely with the level of interest rates. If an investor is required to sell an investment with a five percent yield in a comparable seven percent rate environment, that security will be sold at a loss. The magnitude of that loss will depend on the amount of time until maturity. Purchasing certain allowable securities with a maturity of greater than five years requires approval of the governing board (see Government Code Section 53601). Part of that approval process involves assessing and disclosing the risk and possible volatility of longer-term investments Another element of risk is liquidity risk. Instruments with call features or special structures, or those issued by little known companies, are examples of "story bonds" and are often thinly traded. Their uniqueness often makes finding prospective buyers in a secondary market more difficult and, consequently, the securities' marketability and price are discounted. However, under certain market conditions, gains are also possible with these types of securities. Default risk represents the possibility that the borrower may be unable to repay the obligation as scheduled. Generally, securities issued by the federal government and its agencies are considered the most secure, while securities issued by private corporations or negotiable certificates of deposit issued by commercial banks have a greater degree of risk. Securities with additional credit enhancements, such as bankers acceptances, collateralized repurchase agreements and collateralized bank deposits are somewhere between the two on the risk spectrum. The vast majority of portfolios are managed within a buy and hold policy. Investments are purchased with the intent and capacity to hold that security until maturity. At times, market forces or operations may dictate swapping one security for another or APPENDIX E 156 Page 21 of 27 selling a security before maturity. Continuous analysis and fine tuning of the investment portfolio are considered prudent investment management. The Government Code contains specific provisions regarding the types of investments and practices permitted after considering the broad requirement of preserving principal and maintaining liquidity before seeking yield. These provisions are intended to promote the use of reliable, diverse, and safe investment instruments to better ensure a prudently managed portfolio worthy of public trust. Source: Chapter II. Fund Management from the Local Agency Investment Guidelines Issued by California Debt and Investment Advisory Commission 157 Page 22 of 27 GLOSSARY The purpose of this glossary is to provide the reader of the City of La Quinta investment policies with a better understanding of financial terms as used in municipal investing or the financial sector in general. The glossary was adopted from the California Municipal Treasurers Association, therefore all terms appearing in this glossary may not be used in the policy. A GENCIES: Federal agency securities and/or Government-sponsored enterprises. A NNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR): The official annual report for the City of La Quinta. It includes combined statements for each individual fund and account group prepared in conformity with GAAP. It also includes supporting schedules necessary to demonstrate compliance with finance-related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section. A SKED: The price at which securities are offered. B ANKERS' ACCEPTANCE (BA): A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill, as well as the issuer. B ID: The price offered by a buyer of securities. (When you are selling securities, you ask for a bid.) See Offer. B ROKER: A broker brings buyers and sellers together for a commission. C ERTIFICATE OF DEPOSIT (CD): A time deposit with a specific maturity evidenced by a certificate. Large- denomination CD's are typically negotiable. C OLLATERAL: Securities, evidence of deposit or other property which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies. C OMMERCIAL PAPER: Short-term unsecured promissory notes issued by a corporation to raise working capital. These negotiable instruments are purchased at a discount to par value or at par value with interest bearing. Commercial papers are issued by corporations such as General Motors Acceptance Corporation, IBM, Bank America, etc. C ONDUIT FINANCING: A form of Financing in which a government or a government agency lends its name to a bond issue, although it is acting only as a conduit between a specific project and bond holders. The bond holders can look only to the revenues from the project being financed for repayment and not to the government or agency whose name appears on the bond. C OUPON: (a) The annual rate of interest that a bond's issuer promises to pay the bondholder on the bond's face value. (b) A certificate attached to a bond evidencing interest due on a payment date. D EALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account. D EBENTURE: A bond secured only by the general credit of the issuer. APPENDIX F 158 Page 23 of 27 D ELIVERY VERSUS PAYMENT: There are two methods of delivery of securities: delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities. D ERIVATIVES: (1) Financial instruments whose return profile is linked to, or derived from, the movement of one or more underlying index or security, and may include a leveraging factor, or (2) financial contracts based upon notional amounts whose value is derived from an underlying index or security (interest rates, foreign exchange rates, equities or commodities). D ISCOUNT: The difference between the cost price of a security and its maturity when quoted at lower than face value. A security selling below original offering price shortly after sale also is considered to be at a discount. D ISCOUNT SECURITIES: Non-interest-bearing money market instruments that are issued at discount and redeemed at maturity for full face value D IVERSIFICATION: Dividing investment funds among a variety of securities offering independent returns. G OVERNMENT SPONSORED ENTERPRISES (GSEs): Privately held corporations with public purposes created by the U.S. Congress to reduce the cost of capital for certain borrowing sectors of the economy. Securities issues by GSEs carry the implicit backing of the U.S. Government, but they are not direct obligations of the U.S. Government. Typically referred to as ‘Agency Bonds’ or ‘Agencies’. FNMAs or Fannie Mae (Federal National Mortgage Association) - Like GNMA was chartered under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). It is the largest single provider of residential mortgage funds in the United States. Fannie Mae, as the corporation is called, is a private stockholder-owned corporation. The corporation's purchases include a variety of adjustable mortgages and second loans, in addition to fixed-rate mortgages. FNMA's securities are also highly liquid and are widely accepted. FNMA assumes and guarantees that all security holders will receive timely payment of principal and interest. FHLBs (Federal Home Loan Bank) - Issued by the Federal Home Loan Bank System to help finance the housing industry. The notes and bonds provide liquidity and home mortgage credit to savings and loan associations, mutual savings banks, cooperative banks, insurance companies, and mortgage-lending institutions. They are issued irregularly for various maturities. The minimum denomination is $5,000. The notes are issued with maturities of less than one year and interest is paid at maturity. FFCBs (Federal Farm Credit Bank) – Debt instruments used to finance the short and intermediate term needs of farmers and the national agricultural industry. They are issued monthly with three- and six-month maturities. The FFCB issues larger issues (one to ten year) on a periodic basis. These issues are highly liquid. 159 Page 24 of 27 FHLMCs or Freddie Mac (Federal Home Loan Mortgage Corporation) - a government sponsored entity established in 1970 to provide a secondary market for conventional home mortgages. Mortgages are purchased solely from the Federal Home Loan Bank System member lending institutions whose deposits are insured by agencies of the United States Government. They are issued for various maturities and in minimum denominations of $10,000. Principal and interest is paid monthly. FAMCs or Farmer Mac (Federal Agricultural Mortgage Corporation) - FAMC increases the availability and affordability of credit for the benefit of American agriculture and rural communities. They are the nation’s premier secondary market for agricultural credit, providing financial solutions to a broad spectrum of the agricultural community, including agricultural lenders, agribusinesses, and other institutions that can benefit from access to flexible, low-cost financing and risk management tools. FAMC is regulated by the Farm Credit Administration. Other federal agency issues are Small Business Administration notes (SBA's), Government National Mortgage Association notes (GNMA's), and Tennessee Valley Authority notes (TVA's). F EDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A federal agency that insures bank deposits, currently up to $250,000 per deposit per entity. F EDERAL FUNDS RATE: The rate of interest at which Fed funds are traded. This rate is currently pegged by the Federal Reserve through open- market operations. F EDERAL OPEN MARKET COMMITTEE (FOMC): Consists of seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank Presidents. The President of the New York Federal Reserve Bank is a permanent member, while the other Presidents serve on a rotating basis. The Committee periodically meets to set Federal Reserve guidelines regarding purchases and sales of Government Securities in the open market as a means of influencing the volume of bank credit and money. F EDERAL RESERVE SYSTEM: The central bank of the United States created by Congress and consisting of a seven-member Board of Governors in Washington, D.C., 12 regional banks and about 3,000 commercial banks that are members of the system. G OVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA or Ginnie Mae): Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage bankers, commercial banks, savings and loan associations, and other institutions. Security holder is protected by full faith and credit of the U.S. Government. Ginnie Mae securities are backed by the FHA, VA or FMHM mortgages. The term "pass-throughs" is often used to describe Ginnie Maes. LAIF (Local Agency Investment Fund): - A special fund in the State Treasury which local agencies may use to deposit funds for investment. There is no minimum investment period, the minimum transaction is $5,000 and the City follows the state guidance for maximum total balance. The City is restricted to a maximum of ten transactions per month. It offers high liquidity because deposits can be converted to cash in 24 hours and no interest is lost. All interest is distributed to those agencies participating on a proportionate share basis determined by the amounts deposited and the length of time 160 Page 25 of 27 they are deposited. Interest is paid quarterly. The State retains an amount for reasonable costs of making the investments, not to exceed one-half of one percent of the earnings. L IQUIDITY: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes. L OCAL GOVERNMENT INVESTMENT POOL (LGIP): The aggregate of all funds from political subdivisions that are placed in the custody of the State Treasurer for investment and reinvestment M ARKET VALUE: The price at which a security is trading and could presumably be purchased or sold. M ASTER REPURCHASE AGREEMENT: A written contract covering all future transactions between the parties to repurchase-reverse repurchase agreements that establish each party's rights in the transactions. A master agreement will often specify, among other things, the right of the buyer- lender to liquidate the underlying securities in the event of default by the seller- borrower. M ATURITY: The date upon which the principal or stated value of an investment becomes due and payable. M ONEY MARKET: The market in which short-term debt instruments (bills, commercial paper, bankers' acceptances, etc.) are issued and traded. N RSRO (NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATION): A credit rating agency recognized by the Securities and Exchange Commission (SEC). Examples include Fitch Ratings, Inc., Moody’s Investor’s Services, Inc., and S&P Global Ratings, among others. O FFER: The price asked by a seller of securities. (When you are buying securities, you ask for an offer.) See Asked and Bid. O PEN MARKET OPERATIONS: Purchases and sales of government and certain other securities in the open market by the New York Federal Reserve Bank as directed by the FOMC in order to influence the volume of money and credit in the economy. Purchases inject reserves into the bank system and stimulate growth of money and credit; sales have the opposite effect. Open market operations are the Federal Reserve's most important and most flexible monetary policy tool. PORTFOLIO: Collection of all cash and securities under the direction of the City Treasurer, including Bond Proceeds. PRIMARY DEALER: A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include Securities and Exchange Commission (SEC) registered securities broker-dealers, banks and a few unregulated firms. 161 Page 26 of 27 Q UALIFIED PUBLIC DEPOSITORIES: A financial institution which does not claim exemption from the payment of any sales or compensating use or ad valorem taxes under the laws of this state, which has segregated for the benefit of the commission eligible collateral having a value of not less than its maximum liability and which has been approved by the Public Deposit Protection Commission to hold public deposits. R ATE OF RETURN: The yield obtainable on a security based on its purchase price or its current market price. This may be the amortized yield to maturity on a bond the current income return. R EPURCHASE AGREEMENT (RP OR REPO) and REVERSE REPURCHASE A GREEMENTS (RRP or RevRepo): A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security "buyer" in effect lends the "seller" money for the period of the agreement, and the terms of the agreement are structured to compensate him for this. Dealers use RP extensively to finance their positions. Exception: When the Fed is said to be doing RP, it is lending money that is increasing bank reserves. SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank's vaults for protection. SECONDARY MARKET: A market made for the purchase and sale of outstanding issues following the initial distribution. SECURITIES & EXCHANGE COMMISSION: Agency created by Congress to protect investors in securities transactions by administering securities legislation. SEC RULE 15C3-1: See Uniform Net Capital Rule. SSAE 16: The Statement on Standards for Attestation Engagements No. 16 (SSAE 16) is a set of auditing standards and guidance on using the standards, published by the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) for redefining and updating how service companies report on compliance controls. The Service Organizational Control report (SOC-1) contains internal controls over financial reporting and is used by auditors and office controllers. STRUCTURED NOTES: Notes issued by Government Sponsored Enterprises (FHLB, FNMA, SLMA, etc.) and Corporations which have imbedded options (e.g., call features, step-up coupons, floating rate coupons, and derivative-based returns) into their debt structure. Their market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded options and shifts in the shape of the yield curve. S URPLUS FUNDS: Section 53601 of the California Government Code defines surplus funds as any money not required for immediate necessities of the local agency. The City has defined immediate necessities to be payment due within one week. TREASURY BILLS: A non-interest- bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months, six months or one year. 162 Page 27 of 27 T REASURY BONDS: Long-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities of more than 10years. T REASURY NOTES: Medium-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities from two to 10 years. U NIFORM NET CAPITAL RULE: Securities and Exchange Commission requirement that member firms as well as nonmember broker-dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio. Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash. U NIFORM PRUDENT INVESTOR ACT: The State of California has adopted this Act. The Act contains the following sections: duty of care, diversification, review of assets, costs, compliance determinations, delegation of investments, terms of prudent investor rule, and application. Y IELD: The rate of annual return on an investment, expressed as a percentage. (a) INCOME YIELD is obtained by dividing the current dollar income by the current market price for the security. (b) NET YIELD or YIELD TO MATURITY is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond. 163 164 City of La Quinta FINANCIAL ADVISORY COMMISSION SPECIAL MEETING DEPARTMENTAL REPORT TO: Members of the Financial Advisory Commission FROM: Claudia Martinez, Finance Director/City Treasurer DATE: April 8, 2026 SUBJECT: FINANCE DEPARTMENT CURRENT AND FUTURE INITIATIVES The Finance Department would like to provide updates on the following matters. AUDIT & FINANCIAL REPORTING Citywide Interim Audit for fiscal year 2025/26 will be taking place from May 4, 2026, to May 8, 2026 Completed the Single Audit for federal funds for FY 2024/25 COMMITTEE UPDATES Financial Projections Task Force (Commissioners Anderson and Dorsey) o The Fiscal Year (FY) 2026/27 budget will be updated in the TrueComp (GovInvest) Financial Forecasting software, with related meetings to be scheduled. FY 2026/27 General Fund Operating Budget Subcommittee (Commissioners Dorsey and Niblo) o The FY 2026/27 budget process is underway by City staff and management. The Subcommittee will meet in April to review revenue projections, expenditure requests, and proposed uses of Measure G sales tax revenue. CITY UPDATES SilverRock Update – The City has a dedicated website which includes updates, documents, and a timeline outlining the Talus/SilverRock Resort project. The City Manager and City Attorney provide regular case updates during Council meetings, and those updates will also be posted on the website. City Website: www.laquintaca.gov/taluslq Hwy 111 Corridor Specific Plan – The City has a dedicated website which includes updates and meeting documents. City website: https://www.laquintaca.gov/our-city/city-departments/design-and- development/planning-division/highway-111-specific-plan o Council and Planning Commission joint meeting held on September 26, 2023. DEPARTMENTAL REPORT ITEM NO. 1 165 o Planning Commission meeting held on October 14, 2025 and City Council meeting held on November 18, 2025, with a continuation on January 20, 2026. o To date, expenditures related to the project are detailed in the Project Activity Report (Attachment 1), in the amount of $1,407,046.55. Revenue allocations of Measure G do not yet include the most recent quarter entry.  Imperial Irrigation District (IID) power distribution substations in La Quinta, cost- share options for upgrades; prior Council study sessions held on January 16, 2024 and February 18, 2025. On December 16, 2025, Council adopted a resolution to appropriate $10 million from General Fund Unassigned Reserves; approved the transfer of funding from the City to the La Quinta Financing Authority through a Financing Agreement between the 2 entities; and approved the following two agreements with IID related to the Avenue 58 substation expansion and improvements, and the purchase of certain power equipment:  Engineering and Procurement Agreement (for certain long lead-time equipment to be paid for by the City), subject to reimbursement by developers; and  Funding and Reservation of Capacity Agreement for the Avenue 58 Transformer Bank Addition. In March 2026, the City processed the first deposit of approximately $5.1 million to support the initial phase of the substation expansion project. This funding allows IID to immediately begin engineering and procurement of critical long-lead equipment, including transformers, breakers, and switchgear, which are estimated to take 14 to 16 months for delivery. The deposit is structured as a loan to the La Quinta Financing Authority and is expected to be repaid as developers fulfill their required milestone payments, with the City’s advance prioritized for reimbursement. o Coachella Valley Power Agency (CVPA):  March 18, 2025 – Approval of the proposed Coachella Valley Power Agency (CVPA) Joint Powers Agreement to establish an independent public agency for Riverside County and the Coachella Valley to give stakeholders the authority they have sought to address electrical infrastructure needs and services.  April 1, 2025 – Council authorized the City as the first member of CVPA via Resolution No. 2025-0007  October 7, 2025 – The Coachella Valley Public Agency (CVPA) Joint Powers Authority (JPA) currently includes the Cities of La Quinta and Indio, and the County of Riverside. The CVPA has contracted with the Coachella Valley Association of Governments (CVAG) to oversee the administration and management of the CVPA while the CVPA JPA works to hire its own staff. For FY 2025/26, the CVPA JPA members approved a $500,000 budget, and agreed that the three members would contribute $166,666 each. 166 UPCOMING EVENTS The City of La Quinta's first ever Emergency Preparedness Fair will be held on April 9, 2026 at the La Quinta Wellness Center from 9:00 a.m. to 12 p.m. This event brings together community partners, service providers, and residents to share resources and best practices related to emergency preparedness, public safety, health, and resilience. The City La Quinta’s Picnic & Birthday Celebration will be held on Saturday, April 25, 2026, at the Civic Center Campus and will take place from 9 a.m. to 12 p.m. The City is hosting a free three-day Community Emergency Response Team (CERT) Training from Friday, May 1, 2026 to Sunday, May 3, 2026. This hands- on training focuses on emergency readiness, equipping residents with practical skills to respond safely and effectively in disaster situations, including basic fire suppression, medical aid, search and rescue, and team coordination. Additional events can be found on the City’s website at https://www.laquintaca.gov/about- us/calendar. It is important to note the items mentioned in this update are in addition to the daily functions of the Finance Department, which include, but are not limited to, staff report writing/review, payroll, accounts payable, accounts receivable, revenue processing, journal entries, capital accounting, project accounting, purchasing, investing, cash/treasury management, bank reconciliations, budgeting, research and analysis, staff training and development, and general financial support for all City departments. Attachment: 1. Project Activity Report 167 Page 1 of 64/2/2026 12:50:37 PM Project Activity Report City of La Quinta By Project Number Report Dates: 07/01/2019 - 04/02/2026 201905 Highway 111 Corridor Area Plan ImplementaƟ Fund 401 Construction in Process St Improvements Active Project Number Project Name Group Type Status Revenues Account NameAccount Key Category Total Activity -1,299,668.05201905MGMeasure G Funding Measure G - Measure G Funding ActivityDescriptionPost DateGL Account Number GL Account Name Vendor Name Item Number -1,980.00MG 201905 HWY 111 CORRIDOR PLANTransfers In 03/31/2020401-0000-49500 -5,006.25MG 201905 HIGHWAY 111 CORRIDOR AREA PLANTransfers In 06/30/2020401-0000-49500 -6,986.25FY 19/20 Total: -11,715.00MG 201905 HIGHWAY 111 CORRIDOR AREA PLANTransfers In 09/30/2020401-0000-49500 -41,035.00MG 201905 HIGHWAY 111 CORRIDOR AREA PLANTransfers In 12/31/2020401-0000-49500 -7,955.00MG 201905 HIGHWAY 111 CORRIDOR AREA PLANTransfers In 03/31/2021401-0000-49500 -230,049.59MG HIGHWAY 111 CORRIDOR AREA PLANTransfers In 06/30/2021401-0000-49500 -290,754.59FY 20/21 Total: -2,995.00MG 201905 HIGHWAY 111 CORRIDOR PLANTransfers In 09/30/2021401-0000-49500 -30,468.25MG 201905 HWY CORRIDOR AREA PLANTransfers In 12/31/2021401-0000-49500 -3,020.00MG 201905 HWY CORRIDOR AREA PLANTransfers In 03/31/2022401-0000-49500 -130,479.46MG 201905 HWY CORRIDOR AREA PLANTransfers In 06/30/2022401-0000-49500 -166,962.71FY 21/22 Total: -14,775.00MG 201905 HWY CORRIDOR AREA PLANTransfers In 09/30/2022401-0000-49500 -4,537.50MG 201905 HIGHWAY 111 CORRIDOR AREATransfers In 12/31/2022401-0000-49500 -145,350.50MG 201905 HIGHWAY 111 CORRIDOR AREATransfers In 03/31/2023401-0000-49500 -120,554.00MG 201905 HIGHWAY 111 CORRIDOR AREATransfers In 06/30/2023401-0000-49500 -285,217.00FY 22/23 Total: -49,950.15MG 201905 HIGHWAY 111 CORRIDOR AREATransfers In 09/30/2023401-0000-49500 -1,662.50MG 201905 HIGHWAY 111 CORRIDOR AREATransfers In 12/31/2023401-0000-49500 -58,634.71MG 201905 HIGHWAY 111 CORRIDOR AREATransfers In 03/31/2024401-0000-49500 -237,691.79CORR SB1 FUNDING FOR 201905 PROJECTTransfers In 06/30/2024401-0000-49500 -347,939.15FY 23/24 Total: 73,042.37CORR MG 201905/202225 HIGHWAY 111 CORRIDOR ATransfers In 09/30/2024401-0000-49500 -25,166.00MG 201905 HIGHWAY 111 CORRIDOR AREATransfers In 12/31/2024401-0000-49500 -96,466.25MG 201905 HIGHWAY 111 CORRIDOR AREATransfers In 03/31/2025401-0000-49500 -82,132.22MG 201905 HIGHWAY 111 CORRIDOR AREATransfers In 06/30/2025401-0000-49500 -130,722.10FY 24/25 Total: ATTACHMENT 1 168 Report Dates: 07/01/2019 - 04/02/2026Project Activity Report Page 2 of 64/2/2026 12:50:37 PM ActivityDescriptionPost DateGL Account Number GL Account Name Vendor Name Item Number -71,086.25MG 201905 HIGHWAY 111 CORRIDOR AREATransfers In 09/30/2025401-0000-49500 -71,086.25FY 25/26 Total: 0.00201905SB1SB1 Maintenance Funding SB1 Maint Fund - SB1 Maintenance Funding ActivityDescriptionPost DateGL Account Number GL Account Name Vendor Name Item Number 237,691.79CORR SB1 FUNDING FOR 201905 PROJECTTransfers In 06/30/2024401-0000-49500 -102,565.49SB1 201905 HIGHWAY 111 CORRIDOR AREATransfers In 06/30/2024401-0000-49500 -57,573.80SB1 201905 HIGHWAY 111 CORRIDOR AREATransfers In 06/30/2024401-0000-49500 -77,552.50SB1 201905/202223 HIGHWAY 111 CORRIDOR AREATransfers In 06/30/2024401-0000-49500 0.00FY 23/24 Total: Total Revenues: -1,299,668.05 Expenses Account NameAccount Key Category Total Activity 1,314,812.80201905DDesign Expense Design - Design Expense ActivityDescriptionPost DateGL Account Number GL Account Name Vendor Name Item Number 8,290.002019-05 HWY 111 CORRIDOR PROJECT (PLAN&ENG)Design 12/18/2020401-0000-60185 151505GHD INC. 25,600.002019-05 HWY 111 CORRIDOR PROJECT (PLAN&ENG)Design 12/18/2020401-0000-60185 153361GHD INC. 78,461.2502/2021 - HWY 111 PLANNING/ ENGINEERING SVCSDesign04/16/2021401-0000-60185 158460GHD INC. 32,923.7512/2020 - HWY 111 PLANNING/ ENGINEERING SVCSDesign04/16/2021401-0000-60185 155454GHD INC. 75,409.8404/2021 - HWY 111 PLANNING/ENGINEERING SVCSDesign06/11/2021401-0000-60185 161990GHD INC. 34,827.2505/2021 - HWY 111 PLANNING/ENGINEERING SVCSDesign06/25/2021401-0000-60185 163575GHD INC. 255,512.09FY 20/21 Total: 19,315.7506/2021 - HWY 111 PLANNING/ENGINEERING SVCSDesign10/08/2021401-0000-60185 165668GHD INC. 8,620.0007/2021 - HWY 111 PLANNING/ENGINEERING SVCSDesign10/29/2021401-0000-60185 380-0000621GHD INC. 207.4303/24/22 - HWY 111 SITE TOUR LUNCHDesign04/22/2022401-0000-60185 MAR'226925BMBANK OF THE WEST (PLEASE SEE 460.0003/24/22 - HWY 111 SITE TOUR TRANSPORTATIONDesign04/22/2022401-0000-60185 MAR'226925BMBANK OF THE WEST (PLEASE SEE 41,235.8303/2022 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign06/30/2022401-0000-60185 380-0012735GHD INC. 84,123.7006/2022 HWY 111 CORRIDOR PLANNING/ENGINERRIDesign06/30/2022401-0000-60185 380-0016011GHD INC. 153,962.71FY 21/22 Total: 12,962.5007/2022 - HWY 111 CORRIDOR PLANNING/ENGINERRIDesign09/02/2022401-0000-60185 380-0017688GHD INC. 49,617.5009/2022 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign03/03/2023401-0000-60185 380-0020901GHD INC. 51,571.2510/2022 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign03/03/2023401-0000-60185 380-0023845GHD INC. 18,251.2511/2022 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign03/03/2023401-0000-60185 380-0024095GHD INC. 9,171.2512/2022 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign03/03/2023401-0000-60185 380-0025445GHD INC. 12,726.7501/2023 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign03/17/2023401-0000-60185 380-0027217GHD INC. 18,667.5802/2023 - HWY 111 CORRIDOR PLANNING/ENGINEERIDesign06/30/2023401-0000-60185 380-0028778GHD INC. 9,366.2503/2023 - HWY 111 CORRIDOR PLANNING/ENGINEERIDesign06/30/2023401-0000-60185 380-0030405GHD INC. 22,207.5104/2023 - HWY 111 CORRIDOR PLANNING/ENGINEERIDesign06/30/2023401-0000-60185 380-0031910GHD INC. 22,721.9505/2023 - HWY 111 CORRIDOR PLANNING/ENGINEERIDesign06/30/2023401-0000-60185 380-0033492GHD INC. 169 Report Dates: 07/01/2019 - 04/02/2026Project Activity Report Page 3 of 64/2/2026 12:50:37 PM ActivityDescriptionPost DateGL Account Number GL Account Name Vendor Name Item Number 42,803.2106/2023 - HWY 111 CORRIDOR PLANNING/ENGINERRIDesign06/30/2023401-0000-60185 380-0035378GHD INC. 270,067.00FY 22/23 Total: 49,312.6507/2023 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign09/08/2023401-0000-60185 380-0036834GHD INC. 54,534.7110/2023 - HWY 111 CORRIDOR PLANNING/ENGINEERIDesign01/26/2024401-0000-60185 380-0041445GHD INC. 32,062.3601/2024 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign05/24/2024401-0000-60185 380-0047294GHD INC. 53,767.9303/2024 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign05/24/2024401-0000-60185 380-0048891GHD INC. 13,082.7004/2024 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign06/30/2024401-0000-60185 380-0051494GHD INC. 877.5005/01-06/30/24 - ONCALL PLANNING SERVICESDesign06/30/2024401-0000-60185 TN1198158TERRA NOVA PLANNING & RESE 20,296.30ACCRUE 05/2024 HWY 111 CORRIDOR PLANNINGDesign06/30/2024401-0000-60185 37,277.50ACCRUE 06/2024 HWY 111 CORRIDOR PLANNINGDesign06/30/2024401-0000-60185 261,211.65FY 23/24 Total: 20,296.3005/2024 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign09/20/2024401-0000-60185 380-0054142REVGHD INC. 37,277.5006/2024 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign09/20/2024401-0000-60185 380-0054348GHD INC. 3,540.13HWY 111 CONSTRUCTION SIGNAGEDesign09/20/2024401-0000-60185 98554BEST SIGNS INC -20,296.30ACCRUE 05/2024 HWY 111 CORRIDOR PLANNINGDesign09/30/2024401-0000-60185 -37,277.50ACCRUE 06/2024 HWY 111 CORRIDOR PLANNINGDesign09/30/2024401-0000-60185 22,993.5008/2024 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign11/08/2024401-0000-60185 380-0057493GHD INC. 9,563.7509/2024 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign02/07/2025401-0000-60185 380-0063398GHD INC. 83,940.0012/2024 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign02/07/2025401-0000-60185 380-0063431GHD INC. 78,989.7204/2025 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign06/30/2025401-0000-60185 380-0072463GHD INC. 70,173.755/01-6/30/25 HWY 111 CORRIDOR PLANNING/ENGINDesign06/30/2025401-0000-60185 380-0076089GHD INC. 269,200.85FY 24/25 Total: 72,112.2509/2025 HWY 111 CORRIDOR PLANNING/ENGINEERINDesign12/05/2025401-0000-60185 380-0079261GHD INC. 32,746.25HWY 111 CORRIDOR PLANNING/ENGINEERING SVCSDesign01/23/2026401-0000-60185 380-0083152GHD INC. 104,858.50FY 25/26 Total: 92,233.75201905PProfessional Expense Professional - Professional Expense ActivityDescriptionPost DateGL Account Number GL Account Name Vendor Name Item Number 1,980.0002/2020 HIGHWAY 111 CORRIDORProfessional Services 03/20/2020401-0000-60103 8 JOB 2019-08NAI CONSULTING INC 825.0003/2020 HIGHWAY 111 CORRIDORProfessional Services 04/24/2020401-0000-60103 9 JOB 2019-08NAI CONSULTING INC 330.0005/2020 HIGHWAY 111 CORRIDORProfessional Services 06/12/2020401-0000-60103 11 JOB 2019-08NAI CONSULTING INC 3,851.2506/2020 HIGHWAY 111 CORRIDORProfessional Services 06/30/2020401-0000-60103 12 JOB 2019-08NAI CONSULTING INC 6,986.25FY 19/20 Total: 9,240.0007/2020 HIGHWAY 111 CORRIDORProfessional Services 09/04/2020401-0000-60103 13 JOB 2019-08NAI CONSULTING INC 2,475.0008/2020 HIGHWAY 111 CORRIDORProfessional Services 09/25/2020401-0000-60103 14 JOB 2019-08NAI CONSULTING INC 2,182.5009/2020 HIGHWAY 111 CORRIDORProfessional Services 10/09/2020401-0000-60103 15 JOB 2019-08NAI CONSULTING INC 4,962.5010/2020 HIGHWAY 111 CORRIDORProfessional Services 12/04/2020401-0000-60103 16 JOB 2019-08NAI CONSULTING INC 2,657.50HIGHWAY 111 CORRIDORProfessional Services 01/15/2021401-0000-60103 17 JOB 2019-08NAI CONSULTING INC 720.00HIGHWAY 111 CORRIDORProfessional Services 01/22/2021401-0000-60103 18 JOB 2019-08NAI CONSULTING INC 980.00HIGHWAY 111 CORRIDORProfessional Services 03/05/2021401-0000-60103 19 JOB 2019-08NAI CONSULTING INC 170 Report Dates: 07/01/2019 - 04/02/2026Project Activity Report Page 4 of 64/2/2026 12:50:37 PM ActivityDescriptionPost DateGL Account Number GL Account Name Vendor Name Item Number 3,597.50HIGHWAY 111 CORRIDORProfessional Services 03/19/2021401-0000-60103 2019-08.20NAI CONSULTING INC 2,072.50HIGHWAY 111 CORRIDORProfessional Services 04/23/2021401-0000-60103 2019-08.21NAI CONSULTING INC 1,657.50HIGHWAY 111 CORRIDORProfessional Services 05/28/2021401-0000-60103 2019-08.22NAI CONSULTING INC 1,850.00HIGHWAY 111 CORRIDORProfessional Services 06/18/2021401-0000-60103 2019-08.23NAI CONSULTING INC 2,847.50HIGHWAY 111 CORRIDORProfessional Services 06/30/2021401-0000-60103 2019-08.24NAI CONSULTING INC 35,242.50FY 20/21 Total: 630.0007/2021 HIGHWAY 111 CORRIDORProfessional Services 09/17/2021401-0000-60103 2019-08.25NAI CONSULTING INC 2,365.0008/2021 HIGHWAY 111 CORRIDORProfessional Services 09/17/2021401-0000-60103 2019-08.26NAI CONSULTING INC 790.0009/2021 HIGHWAY 111 CORRIDORProfessional Services 11/05/2021401-0000-60103 2019-08.27NAI CONSULTING INC 1,742.5010/2021 HIGHWAY 111 CORRIDORProfessional Services 12/03/2021401-0000-60103 2019-08.28NAI CONSULTING INC 620.0011/2021 - HIGHWAY 111 CORRIDORProfessional Services 01/14/2022401-0000-60103 2019-08.29NAI CONSULTING INC 930.0012/2021 HIGHWAY 111 CORRIDORProfessional Services 01/14/2022401-0000-60103 2019-08.30NAI CONSULTING INC 192.5001/2022 HIGHWAY 111 CORRIDORProfessional Services 02/25/2022401-0000-60103 2019-08.31NAI CONSULTING INC 1,277.5002/2022 HIGHWAY 111 CORRIDORProfessional Services 03/18/2022401-0000-60103 2019-08.32NAI CONSULTING INC 1,860.0003/2022 - HIGHWAY 111 CORRIDORProfessional Services 04/15/2022401-0000-60103 2019-08.33NAI CONSULTING INC 967.5005/2022 HIGHWAY 111 CORRIDORProfessional Services 06/30/2022401-0000-60103 2019-08.35NAI CONSULTING INC 1,625.0006/2022 HIGHWAY 111 CORRIDORProfessional Services 06/30/2022401-0000-60103 2019-08.36NAI CONSULTING INC 13,000.00FY 21/22 Total: 1,812.5007/2022 2019-05 HIGHWAY 111 CORRIDORProfessional Services 08/26/2022401-0000-60103 2019-08.37NAI CONSULTING INC 1,700.0008/2022 HIGHWAY 111 CORRIDORProfessional Services 10/07/2022401-0000-60103 2019-08.38NAI CONSULTING INC 1,962.5009/2022 - 2019-05 HIGHWAY 111 CORRIDORProfessional Services 10/28/2022401-0000-60103 2019.08.39NAI CONSULTING INC 875.0012/2022 - 2019-05 HIGHWAY 111 CORRIDORProfessional Services 12/16/2022401-0000-60103 2019-08.41NAI CONSULTING INC 3,312.5012/2022 - 2019-05 HIGHWAY 111 CORRIDORProfessional Services 02/03/2023401-0000-60103 2019-08.42NAI CONSULTING INC 700.0001/2023 - 2019-05 HIGHWAY 111 CORRIDORProfessional Services 02/24/2023401-0000-60103 2019-08.43NAI CONSULTING INC 2,137.5003/2023 HIGHWAY 111 CORRIDORProfessional Services 05/05/2023401-0000-60103 2019-08.45NAI CONSULTING INC 725.0003/2023 HIGHWAY 111 CORRIDORProfessional Services 05/05/2023401-0000-60103 2019-08.44NAI CONSULTING INC 1,250.0005/2023 - 2019-05 HIGHWAY 111 CORRIDORProfessional Services 06/23/2023401-0000-60103 2019-08.47NAI CONSULTING INC 675.0006/2023 - 2019-05 HIGHWAY 111 CORRIDORProfessional Services 06/30/2023401-0000-60103 2019-08.48NAI CONSULTING INC 15,150.00FY 22/23 Total: 637.5007/2023 HIGHWAY 111 CORRIDORProfessional Services 08/25/2023401-0000-60103 2019-08.49NAI CONSULTING INC 437.5008/2023 - 2019-05 HIGHWAY 111 CORRIDORProfessional Services 10/13/2023401-0000-60103 2019-08.50NAI CONSULTING INC 700.0009/2023 HIGHWAY 111 CORRIDORProfessional Services 10/27/2023401-0000-60103 2019-08.51NAI CONSULTING INC 525.0010/2023 - 2019-05 HIGHWAY 111 CORRIDORProfessional Services 11/17/2023401-0000-60103 2019-08.52NAI CONSULTING INC 887.5011/2023 HIGHWAY 111 CORRIDORProfessional Services 01/19/2024401-0000-60103 2019-08.53NAI CONSULTING INC 875.0012/2023 HIGHWAY 111 CORRIDORProfessional Services 01/19/2024401-0000-60103 2019-08.54NAI CONSULTING INC 2,337.5001/2024 HIGHWAY 111 CORRIDORProfessional Services 02/23/2024401-0000-60103 2019-08.55NAI CONSULTING INC 500.0003/2024 HIGHWAY 111 CORRIDORProfessional Services 04/26/2024401-0000-60103 2019-08.57NAI CONSULTING INC 750.0004/2024 HIGHWAY 111 CORRIDORProfessional Services 05/31/2024401-0000-60103 2019-08.58NAI CONSULTING INC 537.5005/2024 HIGHWAY 111 CORRIDORProfessional Services 06/30/2024401-0000-60103 2019-08.59NAI CONSULTING INC 171 Report Dates: 07/01/2019 - 04/02/2026Project Activity Report Page 5 of 64/2/2026 12:50:37 PM ActivityDescriptionPost DateGL Account Number GL Account Name Vendor Name Item Number 987.5006/2024 HIGHWAY 111 CORRIDORProfessional Services 06/30/2024401-0000-60103 2019-08.60NAI CONSULTING INC 9,175.00FY 23/24 Total: 970.0007/2024 - HIGHWAY 111 CORRIDORProfessional Services 09/06/2024401-0000-60103 2024-03.01NAI CONSULTING INC 475.0008/2024 - HIGHWAY 111 CORRIDORProfessional Services 10/04/2024401-0000-60103 2024-03.02R1NAI CONSULTING INC 1,407.5009/2024 HIGHWAY 111 CORRIDORProfessional Services 11/08/2024401-0000-60103 2024-03.03NAI CONSULTING INC 47.5010/2024 HIGHWAY 111 CORRIDORProfessional Services 12/06/2024401-0000-60103 2024-03.04NAI CONSULTING INC 242.5011/2024 HIGHWAY 111 CORRIDORProfessional Services 12/27/2024401-0000-60103 2024-03.05NAI CONSULTING INC 195.0012/2024 - PROFESSIONAL ENGINEERING SERVICESProfessional Services 02/07/2025401-0000-60103 2024-03.06NAI CONSULTING INC 1,260.0001/2025 HIGHWAY 111 CORRIDORProfessional Services 02/28/2025401-0000-60103 2024-03.07NAI CONSULTING INC 1,507.5002/2025 HIGHWAY 111 CORRIDORProfessional Services 03/21/2025401-0000-60103 2024-03.08NAI CONSULTING INC 1,602.5003/2025 - HIGHWAY 111 CORRIDORProfessional Services 05/02/2025401-0000-60103 2024-03.09NAI CONSULTING INC 780.0004/2025 HIGHWAY 111 CORRIDORProfessional Services 05/16/2025401-0000-60103 2024-03.10NAI CONSULTING INC 427.5005/2025 HIGHWAY 111 CORRIDORProfessional Services 06/13/2025401-0000-60103 2024-03.11NAI CONSULTING INC 332.5006/2025 HIGHWAY 111 CORRIDORProfessional Services 06/30/2025401-0000-60103 2024-03.12NAI CONSULTING INC 9,247.50FY 24/25 Total: 142.5007/2025 HIGHWAY 111 CORRIDORProfessional Services 08/29/2025401-0000-60103 2024-03.13R1NAI CONSULTING INC 770.0008/2025 HIGHWAY 111 CORRIDORProfessional Services 09/26/2025401-0000-60103 2024-03.14NAI CONSULTING INC 390.0009/2025 HIGHWAY 111 CORRIDORProfessional Services 10/24/2025401-0000-60103 2024-03.15NAI CONSULTING INC 675.0010/2025 HIGHWAY 111 CORRIDORProfessional Services 12/05/2025401-0000-60103 2024-03.16NAI CONSULTING INC 432.5012/2025 HIGHWAY 111 CORRIDORProfessional Services 01/23/2026401-0000-60103 2024-03.18R1NAI CONSULTING INC 1,022.5001/2026 HIGHWAY 111 CORRIDORProfessional Services 03/27/2026401-0000-60103 2024-03.19NAI CONSULTING INC 3,432.50FY 25/26 Total: Total Expenses: 1,407,046.55 107,378.50201905 Total: 172 Report Dates: 07/01/2019 - 04/02/2026Project Activity Report Page 6 of 64/2/2026 12:50:37 PM Summary Project NameProject Number Project Summary Total Revenue Total Expense Revenue Over/ (Under) Expenses Highway 111 Corridor Area Plan Implementation2019051,299,668.05 1,407,046.55 -107,378.50 Project Totals:1,299,668.05 1,407,046.55 -107,378.50 Group Summary Group Total Revenue Total Expense Revenue Over/ (Under) Expenses Fund 401 Construction in Process 1,299,668.05 1,407,046.55 -107,378.50 Group Totals:1,299,668.05 1,407,046.55 -107,378.50 Type Summary Type Total Revenue Total Expense Revenue Over/ (Under) Expenses St Improvements 1,299,668.05 1,407,046.55 -107,378.50 Type Totals:1,299,668.05 1,407,046.55 -107,378.50 173 174 POWER POINTS FINANCIAL ADVISORY COMMISSION SPECIAL MEETING APRIL 8, 2026 April 8, 2026 1 Financial Advisory Commission Special Meeting April 8, 2026 1 2 April 8, 2026 2 Financial Advisory Commission Special Meeting April 8, 2026 Public Comment Financial Advisory Commission Special Meeting April 8, 2026 Confirmation of Agenda 3 4 April 8, 2026 3 Financial Advisory Commission Special Meeting April 8, 2026 Consent Calendar Financial Advisory Commission Special Meeting April 8, 2026 Study Session Item No. 3 Discuss the Fiscal Year 2026/27 Investment Policy 5 6 April 8, 2026 4 Current Policy • Investment Policy Certificate of Excellence by the Association of Public Treasurers • Certified by the California Municipal Treasurers Association • Follows California Government Code • Emphasizes the importance of safety and liquidity 2026/27 Proposed Changes • No material changes are proposed – Dates edited where applicable – Minor edits to layout and/or grammar for clarity – Edit to Section X to note “Local Agency Bonds” are Municipal Bonds and covered under 4 sections of the GOV code §53601(a), (c), (d) and € 7 8 April 8, 2026 5 Financial Advisory Commission Special Meeting April 8, 2026 Study Session No. 1 Discuss Projects To Be Included in Fiscal Year 2026/27 Through 2030/31 Capital Improvement Program Purpose and Timeline • Review CIP – 5-year plan • Finance Advisory Commission – April 8, 2026 • Planning Commission – April 14, 2026 • City Council – Study Session – SB1 RMRA and Measure A Approval on April 21 – Public Hearing in June – Appropriate first year funds with City Budget 9 10 April 8, 2026 6 FY 2026/27 Projects • Transportation Projects • Drainage Projects • Parks and Facilities Projects • Other CIP Projects • DIF Reimbursements Transportation Projects • Miles Avenue Pavement Rehabilitation – Additional construction funding – Originally approved as part of FY 2023/24 CIP • Highway 111 Corridor Area Plan Implementation & Pavement Resurfacing – Adding funding for Adams Street Complete Streets Study • 2026/27 Pavement Management Plan (PMP) – First year of the updated 5-year PMP 11 12 April 8, 2026 7 Completed 5-Year Pavement Management Plan (PMP) Transportation Projects • Avenue 47 Pavement Rehabilitation – From Washington Street to La Quinta Drive – Earmark funding for construction • Avenue 52 Pavement Rehabilitation – From SilverRock Way to Madison Street – Earmark funding for construction 13 14 April 8, 2026 8 Transportation Projects • Frances Hack Lane Pavement Rehabilitation – From Avenida Bermudas to Cul-de-sac • Corporate Centre Drive Gap Closure – Closure of a critical road link – Provide an east-west parallel bypass of adjacent HWY 111 – Earmark funding for construction Transportation Projects • Citywide Arterial Slurry Seal Improvements – Slurry seal improvements on arterial streets citywide noted in the updated 5-year PMP that spans from 2026 to 2031 15 16 April 8, 2026 9 Recently Completed Pavement Improvement Projects Recently Completed Pavement Improvement Projects – FY 25/26 Pavement Management Plan • Remaining Cove streets, Monticello Community, La Quinta Highlands Community, and Adams Street. – Highway 111 Resurfacing – Fred Waring Drive Pavement Rehabilitation 17 18 April 8, 2026 10 Drainage Improvements • Citywide Enhancements – Minimum 150-year storm protection – Next projects: Eisenhower Drive at Avenue 50 and at Avenida Bermudas and Desert Club Dr. north of Calle Tampico – Trying to secure Federal Funding with the Army Corps Landscape Renovation Project • Landscape & Lighting Median Island Improvements – Refurbish center medians – Utilizing landscape contractor and staff – Current/Future projects: Washington Street starting at Avenue 52 going north on Washington Street 19 20 April 8, 2026 11 Parks and Facilities Projects • Maintenance and Operations Yard – Additional funding to begin the construction phase • Cultural Campus – Additional funding to begin the construction phase • SilverRock Park Lake and Irrigation Conversion – Design and construction of the lake and irrigation conversion at SilverRock Park Recurring Maintenance Funds • ADA Accessible Ramps – Various Locations • Citywide Preventative Maintenance Plan Improvements • Sidewalks – Various Locations • Citywide Traffic Signal Maintenance Improvements 21 22 April 8, 2026 12 Other CIP Projects • Citywide Miscellaneous ADA Improvements – Continuation of implementing ADA improvements • Citywide Irrigation Upgrades – Annual funding for irrigation upgrades citywide • Dune Palms Mobile Home Estates Improvements – Create a master plan and implement improvements DIF Reimbursements • Pay down existing obligations – In lieu of approving new Transportation DIF Projects – $939,723 will expedite payments to be complete FY 2026/27 rather than FY 2028/29 23 24 April 8, 2026 13 Projects on the Horizon • Washington Street Pavement Rehabilitation (FY 2027/28) • New Traffic Signal at Washington Street at Lake La Quinta Drive (FY 2027/28) • North La Quinta Slurry Seal Improvements/Pavement Repair (FY 2028/29) • Highway 111/Simon Drive Dual Left Turn Lanes (FY 2028/29) • Channel Lining Repairs at Highway 111 and Dune Palms Road (FY 2028/29) Traffic Signals 0.99% Developer Reimbursements 3.95% Drainage Improvements 2.00% Landscape & Lighting 1.67% Public Facilities 50.63%Street Improvements 27.80% Street Improvements Pedestrian 0.98% Parks 5.25%Other 6.30% FISCAL YEAR 2026/2027 IMPROVEMENT SUMMARY $23,799,653 Traffic Signals $235,000 Developer Reimbursements $939,723 Drainage Improvements $477,000 Landscape & Lighting $500,000 Public Facilities $12,050,000 Street Improvements $6,615,730 Street Improvements - Pedestrian $232,200Other $1,250,000 Parks $1,500,000 25 26 April 8, 2026 14 Measure G 65.13% General Fund 12.03% Measure A 7.52% DIF Transportation 6.05% SB 1 Road Maint / Rehab 4.20% CDBG Grant 0.66% Other Funding 4.41% FISCAL YEAR 2026/2027 REVENUE SUMMARY $23,799,653 Measure G $15,500,000 General Fund $2,862,000 Measure A $1,790,730 DIF Transportation $1,439,723 SB 1 Road Maint / Rehab $1,000,000 CDBG Grant $157,200 Other Funding $1,050,000 2026/27 CIP Next Steps • Seek Council, FAC, PC direction • Adopt CIP in June • Appropriate first year funds with City Budget 27 28 April 8, 2026 15 QUESTIONS & DISCUSSION Financial Advisory Commission Special Meeting April 8, 2026 Study Session Item No. 2 Discuss the 2026 Annual Community Workshop and 2026/27 Budget Process 29 30 April 8, 2026 16 2026 Community Workshop “La Quinta Forward: Momentum and Milestones” •Date: Wednesday, February 11th •Location: La Quinta Wellness Center •Approximate Number of Participants: 66 (38 Community Members, 28 City Staff) 2026 Community Workshop Overview •Previously Identified Community Priorities •Current & Future Projects •Finance Update •SilverRock Project Status Update •Housing Development 31 32 April 8, 2026 17 FY 2026/27 Budget Schedule • May 13 – Financial Advisory Commission • May 19 – City Council/Housing Authority • June 2 – City Council/Housing Authority • June 10 – Financial Advisory Commission • June 10 – Housing Commission • June 16 – City Council, Adoption For the latest budget information visit: www.laquintaca.gov/business/finance/budget Financial Advisory Commission Special Meeting April 8, 2026 Business Item No. 1 Receive and File Fiscal Year 2024/25 General Fund Year-End Budget Report 33 34 April 8, 2026 18 Report Content Revenues Expenditures Carryovers Reserve Summary Exhibits General Fund Revenues Top 3 revenue sources Sales tax $27.8m Transient occupancy tax (TOT) $15.9m Property taxes $13.7m General Fund Revenues 2024/25 Final Budget 2024/25 Actuals Variance Tax Revenue 65,825,000 66,866,127 1,041,127 Licenses & Permits 2,551,500 2,682,345 130,845 Intergovernmental 11,573,000 13,971,627 2,398,627 Charges for Services 1,238,700 1,407,901 169,201 Fines, Forfeitures & Abatements 416,000 389,446 (26,554) Use of Money & Property 6,590,000 9,664,543 3,074,543 Miscellaneous/Transfers In 6,018,604 6,386,144 367,540 Total Revenues 94,212,804 101,368,134 7,155,330 Non-Cash Adjustments Investments Fair Market Value Adjustment (2,694,670) (2,694,670) RDA Loan Interest Earned, Extraordinary Gain (56,674) (56,674) (2,751,344) (2,751,344) Total Adjusted Revenues 94,212,804 98,616,790 4,403,986 35 36 April 8, 2026 19 General Fund Expenses Measure G reserves use of $3.9 million Total expenditure savings after carryovers $11.5 million General Fund 2024/25 Final Budget 2024/25 Actuals Variance Operational/CIP Expenses Multi-Year Capital Improvements 40,288,508 8,539,101 (31,749,407) Operational 68,130,080 60,169,177 (7,960,903) Expenses Before Carryovers 108,418,588 68,708,278 (39,710,310) Plus Carryovers to 2025/26 Multi-Year Capital Improvements 31,778,242 31,778,242 Operational 850,000 850,000 Adjusted Expenditures 108,418,588 101,336,520 (7,082,068) Plus Measure G Reserves 600,000 (3,861,782) (4,461,782) Total Expenditures 109,018,588 97,474,738 (11,543,850) Carryovers to 2025/26 Total $31,778,242 For 43 Projects detailed in Exhibit C Total $850,000 Total $2,091,100 37 38 April 8, 2026 20 Fu n d B a l a n c e Reserve/Fund Balance As of June 30, 2024 As of June 30, 2025 Change in Value Non-Spendable Prepaid Costs 170,577 36,870 (133,707) Land Held for Resale 5,403,652 5,403,652 - Notes and loans receivable - 5,865,124 5,865,124 Due from Other Governments 17,123,777 14,375,798 (2,747,979) Total Non-Spendable 22,698,006 25,681,444 2,983,438 Restricted Pension Trust 5,666,575 6,172,305 505,730 Committed Cash Flow Reserve 5,000,000 5,000,000 - Natural Disaster Reserve 15,000,000 15,000,000 - Economic Disaster 13,000,000 13,000,000 - Capital Replacement Reserve 12,000,000 12,000,000 - Total Committed 45,000,000 45,000,000 - Assigned Public Safety Fire Services 15,652,616 19,391,133 3,738,517 Measure G Sales Tax 32,985,374 29,623,592 (3,361,782) Capital Projects 21,666,520 31,778,242 10,111,722 Operational Carryovers 900,000 850,000 (50,000) Total Assigned 71,204,510 81,642,967 10,438,457 Unassigned 65,216,627 84,454,583 19,237,956 TOTAL FUND BALANCE 209,785,718 242,951,299 33,165,581 Measure G Summary FY 24-25 Measure G Revenue : $15.6 million Revenues since inception: $108 million 39 40 April 8, 2026 21 Discussion & Questions Strong Financial Position – $24.8M surplus, exceeding expectations Revenue Growth – Higher tax revenues and investment earnings Controlled Spending – Savings across departments, efficient budget management Capital Investments – $31.8M in project carryovers for infrastructure improvements Fully Funded Reserves – Ensuring financial stability for the future Financial Advisory Commission Special Meeting April 8, 2026 Business Item No. 2 Receive and File Fiscal Year 2025/26 Mid-Year Budget Report 41 42 April 8, 2026 22 City Budget Outlook STEADY REVENUE EXPENSES ON TARGET MONITOR ECONOMIC ENVIRONMENT Mid-Year Report Content General Fund Recommended Adjustments: – Revenues $9,428,504 – Expenses $60,000 Engineering Specialist position 43 44 April 8, 2026 23 General Fund Adjustment Requests Description Revenue Expenses Tax Revenues 3,755,000$ -$ Intergovernmental 500,000 - Charges for Services 80,000 - Miscellaneous 100,000 - Public Safety - 45,000 Marketing - 15,000 Public Works - 20,000 Contingency for Staffing - (20,000) TOTAL GF ADJUSTMENTS 4,435,000$ 60,000$ Discussion & Questions 45 46 April 8, 2026 24 Financial Advisory Commission Special Meeting April 8, 2026 Business Item No. 3 Receive and File Second Quarter Fiscal Year 2025/26 Treasury Reports for October, November, & December 2025 Portfolio Allocations as of December 2025 47 48 April 8, 2026 25 Interest Rates 5-Year Rate, over previous 12 months 49 50 April 8, 2026 26 Earnings Comparison Total Interest Received Yield To Maturity Annualized Total Rate of Return October 687,066$ 3.66% 3.78%666,528$ 3.62% November 652,213$ 3.64% 3.63%429,560$ 3.75% December 715,412$ 3.62% 3.85%633,929$ 3.61% Quarter 2 2,054,691$ 3.64% 3.75%1,730,016$ 3.66% Quarter 1 2025/26 2,216,299$ 3.69% 3.73%1,998,617$ 3.82% Comparison to Previous Year Bond Income – Q2 Activity • Maturities of $7.635 million, that had coupon payments totaling $90,274 • Purchases of $10.483 million, with new coupon payments totaling $392,246 • Increase in annual income of $301,972 51 52 April 8, 2026 27 Pool/Money Market Income • Last year $547,012 on approximately $47.5 million • This year $624,649 on approximately $60.8 million • Increase in actual dollars due to higher balances; on a similar balance income this year would have declined by about $59,000 LAIF and CAMP 53 54 April 8, 2026 28 Going Forward • Monitor FED releases • Transition money from CAMP into LAIF or longer term investments as rates drop, if beneficial to City • Manage cash effectively to maintain needed liquidity while maximizing potential earnings Questions? 55 56 April 8, 2026 29 Financial Advisory Commission Special Meeting April 8, 2026 Departmental Report Item No. 1 Finance Department Current and Future Initiatives The next Financial Advisory Commission Meeting will be on May 13, 2026 57 58 April 8, 2026 30 59