Agenda packet — Bradbury City Council, August 18, 2026

BRADBURY
AGENDA
Adjourned Meeting of the Bradbury City Council
To be held on Tuesday, August 18 2026
at the Bradbury Civic Center
600 Winston Avenue, Bradbury, CA 91008
OPEN SESSION 7:00 PM
Members of the public may provide live comments during the meeting by ZOOM video or telephone call. You will be able to hear the entire proceedings (other than the Closed Session) and speak during Public Comment, Public Hearing, and other authorized times. Members of the public must maintain silence and mute their microphones and telephones except during those times. The Zoom information is: One tap mobile +16694449171, 8591600704#, or https://us06web.zoom.us/j/8591600704?omn=85222049352.

Each item on the agenda, no matter how described, shall be deemed to include any appropriate motion, whether to adopt a minute motion, resolution, payment of any bill, approval of any matter or action, or any other action. Items listed as "For Information" or "For Discussion" may also be subject of an "action" taken by the Board or a Committee at the same meeting.

The City of Bradbury will gladly accommodate disabled persons or those who need accommodations for translation or interpretation services at a city public meeting. Please call the City Manager at 626.358.3218 at least 48 hours prior to the scheduled meeting for special assistance.

CALL TO ORDER

PLEDGE OF ALLEGIANCE
ROLL CALL: Mayor Bruny, Mayor Pro Tem Szymkowski, Councilmembers Lathrop, Barakat & Hale.

APPROVAL OF THE AGENDA: Majority Vote of City Council to proceed with City Business DISCLOSURE OF ITEMS REQUIRED BY GOVERNMENT CODE SECTION 1090 & 81000 ET.SEQ.

Agenda - City Council of the City of Bradbury Pg. 1 Regular Meeting - August 18, 2026

1. PUBLIC COMMENT
Anyone wishing to address the City Council on any matter that is not on the agenda for a public hearing may do so at this time. Please state your name and address clearly for the record and limit your remarks to five (5) minutes.

Please note that while the City Council values your comments, the City Council cannot respond nor take action until such time as the matter may appear on a forthcoming agenda. Routine requests for action should be referred to City staff during normal business hours, Monday through Friday, 8:30 a.m. - 5:00 p.m., at 626.358.3218.

ACTION ITEMS*

CONSENT CALENDAR
All items on the Consent Calendar are considered by the City Council to be routine and will be enacted by one motion unless a Council Member requests otherwise, in which case the item will be removed and considered by separate action. All Resolutions and Ordinances for Second Reading on the Consent Calendar, the motion will be deemed to "to waive the reading and adopt."
A. Minutes: Regular Meeting, July 14, 2026.

B. Minutes: Adjourned Meeting, August 3, 2026
C. Monthly Investment Report for the month of August, 2026.

D. Resolution No. 26-23, Demands & Warrants for August, 2026.

E. Resolution No. 26-24 Councilmember Appointments Districts 3 & 5 F. Sanitation District - Tax Sharing Resolution

3. FISCAL YEAR 2024-2025 ANNUAL FINANCIAL AUDIT REPORT
The Pun Group has completed its independent audit of the City's general-purpose financial statements for fiscal year 2024-25 and found no material weaknesses or significant deficiencies. It is recommended the City Council received and file the Independent Auditor's Reports and Basic Financial Statements, and Independent Accountants Report on Applying Agreed-Upon Procedures to Appropriations Limit Schedule as presented.

4. DISCUSSION ON CALPERS UNFUNDED ACCRUED LIABILITY
This item reviews the City's CalPERS Unfunded Accrued Liability. It is recommended that the City Council authorize an additional discretionary payment to CaPERS in the amount necessary to pay off the City's remaining Liability, currently valued up to $217,338.

5. MATTERS FROM THE CITY MANAGER

6. MATTERS FROM THE CITY ATTORNEY
Agenda - City Council of the City of Bradbury Pg. 2 Regular Meeting - August 18, 2026

7. MATTERS FROM THE CITY COUNCIL
Mayor Bruny
Duarte Education Foundation
Mayor Pro Tem Szymkowski
League of California Cities
SGV Council of Governments
Councilmember Hale
LA County City Selection Committee
So. California Joint Powers Insurance Authority
Councilmember Barakat
LA County Sanitation Districts
Foothill Transit
SGV Mosquito & Vector Control District
Councilmember Lathrop
Duarte Community Education Council (CEC)

CLOSED SESSION

CALL TO ORDER/ROLL CALL

PUBLIC COMMENT - REGARDING CLOSED SESSION ONLY
RECESS TO CLOSED SESSION REGARDING:

A. CONFERENCE WITH LABOR NEGOTIATOR
Agency Negotiators: Kevin Kearney, City Manager & Cary Reisman, City Attorney Unrepresented Employee: Diane Jensen
Authority Gov't Code Section: 54957.6
B. PENDING LITIGATION
Pending Litigation pursuant to Government Code Section 54956.9(d)(1) (Litigation to which the City is a party has been initiated formally: City of Bradbury, etc. V.

Marlene Robertson et al. - Los Angeles Superior Court case no. 25NNCP00569).

Agenda - City Council of the City of Bradbury Pg. 3 Regular Meeting - August 18, 2026 ADJOURNMENT:

The City Council will adjourn to a Regular Meeting at the Bradbury Civic Center, 600 Winston Avenue, Bradbury, CA 91008 on Tuesday, September 15, 2026 at 7:00 p.m. *ACTION ITEMS: Regardless of a staff recommendation on any agenda item, the City Council will consider such matters, including action to approve, conditionally approve, reject or continue such item. Further information on each item may be procured from City Hall.
"', Diane Jensen, City Clerk, hereby certify that I caused this agenda to be posted at the Bradbury City Hall entrance gate by 5:00 p.m. on Friday, August 14, 2026." -
City Clerk - City of Bradbury
Agenda - City Council of the City of Bradbury Pg. 4 Regular Meeting - August 18, 2026

INCORPORATED
JULY 26, 1957

MCITY OFTE

BRADBURY

REGULAR MEETING
of the
CITY of BRADBURY

CITY COUNCIL
Tuesday, August 18, 2026 - 7:00 P.M.

BRADBURY CIVIC CENTER
600 Winston Avenue, Bradbury, CA 91008
• CALL TO ORDER

V PLEDGE OF ALLEGIANCE

ROLL CALL

APPROVAL OF AGENDA

DISCLOSURE OF ITEMS REQUIRED BY
GOVERNMENT CODE SECTION 1090 &
81000 ET.SEQ.

AGENDA ITEM NO. 1 - PUBLIC COMMENT
AGENDA ITEM NO. 2

CONSENT CALENDAR
A. Minutes: Regular Meeting, July 14, 2026.

B. Minutes: Adjourned Meeting, August 3, 2026
C. Monthly Investment Report for the month of August, 2026.

D. Resolution No. 26-23, Demands & Warrants for August, 2026.

E. Resolution No. 26-24 Councilmember Appointments Districts 3 & 5 F. Sanitation District - Tax Sharing Resolution

INCORPORATED
JULY 26. 1957

ACTION MINUTES

CITY COUNCIL

H CITY OFFL OF THE CITY OF BRADBURY

SPECIAL MEETING
BRADBURY Tuesday, July 14, 2026 - 7:00 P.M.

BRADBURY CIVIC CENTER
600 Winston Avenue, Bradbury, CA 91008

CALL TO ORDER
The Regular Meeting of the City Council of the City of Bradbury was called to order by Mayor Elizabeth Bruny at 7:01 p.m.

ROLL CALL A quorum was established by roll call.

PRESENT: Mayor Elizabeth Bruny, Mayor Pro Tem Melodie Szymkowski, Councilmember Bruce Lathrop, Councilmember Richard G.

Barakat and Councilmember Richard T. Hale, Jr.

ABSENT: None.

STAFF: City Manager Kevin Kearney, City Attorney Cary Reisman, City Clerk Diane Jensen and Management Analyst Paulina
Reyes.

APPROVAL OF AGENDA:

Action: Councilmember Hale made a motion to approve the agenda with Councilmember Lathrop seconding the motion which passed unanimously, 5:0.

The Council proceeded with the City of Bradbury business.

DISCLOSURE OF ITEMS REQUIRED BY GOVERNMENT CODE SECTION 1090 & 81000 ET. SEQ. In compliance with the California Political Reform Act, each City Councilmembers has the responsibility to disclose direct or indirect potential for a personal financial impact as a result of participation in the decision-making process concerning agenda items.

Action: City Attorney Reisman stated he was not aware of any potential conflicts.

1. PUBLIC COMMENT
Mayor Bruny opened the meeting to Public Comment. No members of the general public in attendance.

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July 14, 2026

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ACTION ITEMS*

2. CONSENT CALENDAR
All items on the Consent Calendar are considered by the City Council to be routine and will be enacted by one motion unless a Council Member requests otherwise, in which case the item will be removed and considered by separate action. All Resolutions and Ordinances for Second Reading on the Consent Calendar, the motion will be deemed to "to waive the reading and adopt."
A. Minutes: Regular Meeting, June 16, 2026.

B. Monthly Investment Report for the month of July, 2026.

C. Resolution No. 26-19, Demands & Warrants for July, 2026.

D. Resolution No. 26-20: A Resolution of the City Council of the City of Bradbury, California, Allocating Funds from the Citizen's Options for Public Safety ("COPS") Program, and Documenting the Determinations Required by the Supplemental Law Enforcement Oversight Committee.

E. Resolution No. 26-21: A Resolution to Incorporate a List of Projects for Fiscal Year 2026-2027 Funded by SB 1: The Road Repair and Accountability Act Action: Mayor Pro Tem Szymkowski made a motion to approve the Consent Calendar. The motion was seconded by Councilmember Hale. The motion passed unanimously, 5:0.

3. DISCUSSION ON TRUCK RESTRICTIONS ON ROYAL OAKS DRIVE NORTH City Council discussed strategies to mitigate heavy truck traffic and noise on Royal Oaks Drive North and Winston/Lemon Avenues, focusing on early morning backup alarms.

Public Comment:
• Tony Agoncillo, Licensed Nursing Home Administrator, Royal Oaks Manor • Martha Faith, ambassador Royal Oaks Manor
Action: City Council deferred final action, directing Royal Oaks Manor management to eliminate delivery arrivals prior to 8:00 a.m. Councilmember Hale introduced a motion to revisit the agenda item in 60 days to evaluate the results of this operational change before making a final determination. Mayor Pro Tem Szymkowski seconded the motion, which passed by a unanimous vote of 5-0.

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4. PRESENTATION: CITYWIDE CONCRETE REPAIRS
Following a citywide compilation of concrete repair locations consisting of damaged sidewalks, curbs & gutters, drive approaches, and pavement, David Gilbertson, City Engineer, presented a breakdown of the projected costs.

Citywide at approximately $230,000.00 vs. only Gardi Street at approximately $85,000, including the City's arborist being present during the concrete rehabilitation to determine the extent of tree root removal.

Action: Councilmember Hale made a motion for the City's Engineering group, RKA, to prepare citywide formal bid specifications, obtain citywide formal bids and then return to City Council for a formal award of bid. The City to use funding from Measures R & M, Props A & C and the Gas Tax approved earlier tonight. Mayor Pro Tem Szymkowski seconded this motion, which passed unanimously, 5:0.

5. CHARGING FOR USE OF CREDIT CARDS AT CITY HALL
Implementation of a 3% convenience fee for Visa and Mastercard credit card transactions to recover merchant processing costs.

Action: Mayor Bruny made a motion to adopt Resolution No. 26-22, approving a 3% convenience fee for all Mastercard and Visa credit card transactions. Councilmember Lathrop seconded the motion, which passed 5:0. Council approved single transactions over $5,000.00 at the City Manager's discretion, eliminating the need for future Council approval to raise transaction limits.

6. DISCUSSION: FIRST FRIDAY CLOSURES
This item is a continuation from the June 2026 meeting to decide whether the 12-day annual city staff furlough schedule should remain.

Public Comment: Diane Jensen, City Clerk, City of Bradbury.

Action: Mayor Pro Tem Szymkowski made a motion to continue the 12-day annual city staff furlough schedule with Councilmember Hale seconding the motion. Official Vote 3:2:

AYE: Mayor Bruny, Mayor Pro Tem Szymkowski, Councilmember Hale NO: Councilmembers Lathrop & Barakat.

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7. DISCUSSION ON COMMUNITY SUPPORT FUNDS
At the June 16, 2026 City Council meeting, Staff asked direction from City Council on how to expend the budgeted $4,000.00 for homelessness.

Action: After reviewing past charities, Mayor Bruny made a motion to donate $2,000.00 to Union Station Homeless Services and $2,000.00 to the Elizabeth House in Pasadena. Councilmember Barakat seconded the motion, which passed unanimously, 5:0.

8. MATTERS FROM CITY MANAGER:
• Special Meeting, Monday, August 3, 2026 at 6:00 p.m. to sign environmental contracts.
• Elections November 3, 2026 for District 3 & District 5

9. MATTERS FROM CITY ATTORNEY: Nothing to report.

10. MATTERS FROM THE CITY COUNCIL:

Mayor Bruny - Nothing to report.

Mayor Pro Tem Szymkowski - Nothing to report.

Councilmember Hale - Nothing to report.

Councilmember Barakat - Summarized LA County Sanitation and SGV Mosquito & Vector Control meetings.

Councilmember Lathrop - Nothing to report.

11. ITEMS FOR FUTURE AGENDAS:
• Very high fire severity zone definition.
• COG receptive to forming committees for very high fire areas.

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CLOSED SESSION

CALL TO ORDER
The Closed Session of the City Council of the City of Bradbury was called to order by Mayor Bruny at 8:19 following a five-minute break.

ROLL CALL -
PRESENT: Mayor Elizabeth Bruny, Mayor Pro Tem Melodie Szymkowski Councilmember Bruce Lathrop, Councilmember Richard G.

Barakat and Councilmember Richard T. Hale, Jr.

ABSENT: None.

STAFF: City Manager Kearney and City Attorney Reisman.

PUBLIC COMMENT - REGARDING CLOSED SESSION ONLY
No members of the general public in attendance.

RECESS TO CLOSED SESSION REGARDING:

A. PENDING LITIGATION
Pending Litigation pursuant to Government Code Section 54956.9(d)(1) (Litigation to which the City is a party has been initiated formally: City of Bradbury, etc. v.

Marlene Robertson et al. - Los Angeles Superior Court case no. 25NNCP00569).

B. PUBLIC EMPLOYEE PERFORMANCE EVALUATION
Government Code Section 54957 (b)(4)
Title: City Manager
C. CONFERENCE WITH LABOR NEGOTIATOR
Agency Negotiator: Cary S. Reisman, City Attorney
Unrepresented Employee: City Manager
Authority Gov't Code Section: 54957.6
Action: At 9:34 p.m., City Attorney Reisman stated that Council met in Closed Session to discuss the three items:

1. Litigation: The report from Staff was information only. No votes were requested or taken.

2. Evaluation: Council instructed the City Attorney as to what to prepare.

3. Salary: There was discussion but no formal votes were taken. It will be discussed on the next agenda in "Open Session."
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ADJOURNMENT:

At 9:35 p.m., Mayor Bruny made a made a motion to adjourn the meeting to an Adjourned meeting at the Bradbury Civic Center, 600 Winston Avenue, Bradbury, CA 91008 on Monday, August 3, 2026 at 6:00 p.m. Councilmember Barakat seconded the motion, which passed unanimously, 5:0.

SIGNED BY:

Signature Name
Title Date
ATTEST:

Diane Jensen Date
City Clerk, City of Bradbury
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INCORPORATED
JULY 26. 1957

ACTION MINUTES

CITY COUNCIL

FICITY OFF OF THE CITY OF BRADBURY

ADJOURNED MEETING
BRADBURY Monday, August 3, 2026 - 6:00 P.M.

BRADBURY CIVIC CENTER
600 Winston Avenue, Bradbury, CA 91008

CALL TO ORDER
The Regular Meeting of the City Council of the City of Bradbury was called to order by Mayor Elizabeth Bruny at 6:00 p.m.

ROLL CALL A quorum was established by roll call.

PRESENT: Mayor Elizabeth Bruny, Mayor Pro Tem Melodie Szymkowski, Councilmember Bruce Lathrop, Councilmember Richard G. Barakat and Councilmember Richard T. Hale, Jr.

ABSENT: None.

STAFF: City Manager Kevin Kearney, City Attorney Cary Reisman via Zoom, City Clerk Diane Jensen and Management Analyst Paulina Reyes.

APPROVAL OF AGENDA:

Action: Councilmember Barakat made a motion to approve the agenda with the removal of the Closed Session. Councilmember Hale seconded the motion which passed 5:0. The Council proceeded with the City of Bradbury business.

Action: City Attorney Reisman stated Councilmember should abstain from Agenda item #2 as he lives within 500' of the property to be discussed.

1. PUBLIC COMMENT
Mayor Bruny opened the meeting to Public Comment. There was once comment via Zoom who elected to remain anonymous.

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ACTION ITEMS*

2. PROFESSIONAL SERVICES AGREEMENT WITH DE NOVO PLANNING GROUP, INC.:

ENVIRONMENTAL CONSULTANT - 1527 ROYAL OAKS DRIVE NORTH
AND

FIRST AMENDMENT TO AGREEMENT BETWEEN THE CITY OF BRADBURY AND SUNRISE REAL

ESTATE FOR THE PAYMENT AND FEES AND COSTS RELATED TO CONTRACT ENVIRONMENTAL, PLANNING, ENGINNERING AND LEGAL SERVICES FOR DEVELOPMENT OF 8.8 ACRES ON ROYAL

OAKS DRIVE NORTH
Councilmember Barakat recused himself from the discussion.

Action: Mayor Pro Tem Szymkowski made a motion to approve both the Professional Services Agreement with De Novo Planning Group, Inc. and the First Amendment between the City and Sunrise Real Estates which recognizes that the developer will pay for the services of the De Novo Planning Group, Inc. The motion was seconded by Councilmember Hale. The motion passed 4:0.

Councilmember Barakat re-joined Council following the vote.

3. DISCUSSION ON SALARY ADJUSTMENT FOR THE CITY MANAGER On July 14, 2026, Council met in closed session to evaluate the City Manager's performance and salary adjustments.

Action:
• Retroactive to November 1, 2025 through April 30, 2026, salary increased to $215,000.00.

Retroactive to anniversary date, May 1, 2026, salary commences at $225,000.00.

Authorize all retroactive salary increases to be issued immediately.

City Clerk took vote through roll call:

Mayor Bruny: AYE
Mayor Pro Tem Szymkowski: AYE
Councilmember Lathrop: AYE
Councilmember Barakat: AYE
Councilmember Hale: AYE
MATTERS FROM CITY MANAGER:
• Elections November 3, 2026 for District 3 & District 5. Nomination packets are due by Friday, August 7, 2026 by 5:00 p.m.

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MATTERS FROM CITY ATTORNEY: Nothing to report.

6. MATTERS FROM THE CITY COUNCIL:

Mayor Bruny - Nothing to report.

Mayor Pro Tem Szymkowski - Nothing to report.

Councilmember Hale - Nothing to report.

Councilmember Barakat - Nothing to report.

Councilmember Lathrop - Nothing to report.

ADJOURNMENT:

At 6:11 p.m., Mayor Bruny made a made a motion to adjourn the meeting to a Regular meeting at the Bradbury Civic Center, 600 Winston Avenue, Bradbury, CA 91008 on Tuesday, August 18, 2026 at 7:00 p.m. Councilmember Szymkowski seconded the F motion, which passed 5:0.

SIGNED BY:

Signature Name
Title Date
ATTEST:

Diane Jensen Date
City Clerk, City of Bradbury
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City of Bradbury
Monthly Investment Report
Jul-26

CASH ON DEPOSIT BY ACCOUNT CASH & INVESTMENTS ON DEPOSIT BY FUND Bank Accounts: Maturity Interest Rate Amount
Wells Fargo Bank - General Checking General Fund 101) $4,899,487.39 Utility Users Tax Fund (102) $505,710.57
Deposits Fund (103) $36,429.69
Investments: Long Term Planning Fee Fund (112) $899.29
Local Agency Investment Fund (LAIF) $ 4,749,029.17 Technology Fee Fund (113) ($2,732.68) Medallion Bank 250,897.00 08/19/2027 Gas Tax Fund (200) Treasury Bills SB 1 Gas Tax Fund (201)
Treasury Bills 419,091.96 $46,556.14
Morgan Stanley CD 10/30/2028
Goldman Sachs 11/4/2027 TDA Fund (205) 50370
Northwest Bank 11/05/2026 Sewer Fund (206)
STPL Fund (208) $26.42
Recycling Grant Fund (209) $11,820.97
Measure R Fund (210) $14,929.64
Measure M Fund (212) $17,098.51
Measure W Fund (213) $52,747.42
COPS Fund (215) $636,873.71
Total [$ 6,292,020.45 Total [S 6,292,020.45
Submitted By: Reviewed By:

Kzk 0/1/260
Kevin Kearney Laurie Stiver
City Manager Date City Treasurer Date
RESOLUTION 26-23
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BRADBURY, CA., APPROVES THE AUGUST ACH/EFT DEMANDS & WARRANTS TOTALING $31,752.88 and REGULAR CHECKS #18409 - 184xx, ACH/EFT, PAYROLL, & EMPLOYEE BENEFITS TOTALING $138,435.31 FOR A COMBINED TOTAL OF $170,188.19.

Section 1. PRE-RELEASE CHECKS/ACH/EFT
That the demands as set forth hereinafter are approved & warrants authorized to be drawn from the General Checking account for checks from said demands in the amount of $31,752.88 during the month of August, 2026.

CHECK# VENDOR/INVOICE# DESCRIPTION SUBTOTAL TOTAL PAID

ACH/EFT
Staff Insurance - August '26
EFT Pay Aetna (Health) Kearney (family) 101.12.5100 $ 2,302.84

08.03.26 J3313810
Jensen (single) 101.13.5100 $ 1,668.68 $ 4,470.66
Reyes (single) 101.16.5100 $ 499.14
EFT Pay CalPERs Annual Unfunded Accrued Liability

07.31.26 Inv. 100000018343175 Classic Member $ 25,972.00 Acct. 101.16.6240
Staff Insurance - August 26
ACH Pay Delta Dental CM - Kearney (family) 101.12.5100 $ 124.86

08.03.26 Inv. BE007140053 $ 206.34
CC -Jensen (single) 101.13.5100 $ 40.74
MA - Reyes (single) 101.16.5100 $ 40.74
EFT Pay Frontier Communications City Hall Fire Alarm - August '26 $ 170.04

08.17.26 07.22.26 to 08.21.26 Acct. 101.23.7420
EFT Pay Southern Cal. Edison City Hall - July '26

08.11.26 06.24.26 to 07.23.26 Acct. 101.16.6400 $ 572.89 EFT Pay Southern Cal. Edison Gardi Street - July '26
$ 38.82

08.11.26 06.24.26 to 07.23.26 Acct. 200.48.6400
EFT Pay Southern Cal. Gas City Hall - July '26 $ 14.79

08.12.26 06.23.26 to 07.23.26 Acct. 101.16.6400
EFT Pay Spectrum City Hall Internet - August '26 170.00 $

08.10.26 Inv. 0101050072326 Acct.101.16.6230
Staff Insurance - August 26
ACH Pay The Standard CM- Kearney 101.12.5100 $ 9.65

08.03.26 Life Insurance
CC-Jensen 101.13.5100 $ 9.65 $ 28.95
MA - Reyes 101.16.5100 $ 9.65
Demands Warrants 26-23 1 August 18, 2026
Staff Insurance - August 26
ACH Pay VSP (Vision) CM - Kearney (family) 101.12.5100 $ 61.08

08.03.26 Inv. 825621546
CC -Jensen (single) 101.13.5100 $ 23.66 $ 108.39
MA - Reyes (single) 101.16.5100 $ 23.66
SECTION 1 $ 31,752.88
Section 2. REGULAR CHECKS
That the demands as set forth hereinafter are approved and warrants authorized to be drawn from the General Checking account for the regular checks from said demands in the amount of $36,001.39 during the month of August, 2026.

Burrtec Waste Co. City Street Sweeping - July'26
18409 $ 430.82
Inv. NO1884961 Acct. 200.48.7290
Bradbury Transportation Services
(Prop C) - July '26/Aug. 26 1,408.14
Inv. 2700092/2700180 $
18410 City of Monrovia Acct. 204.40.7325 1,960.94
$
Police Crowd Control BNO
FY 25/26 Inv. #2700078 $ 552.80
Acct. 215.23.7411
City of Los Angeles LARA Membership Fee FY 26/27 377.51 18411 Inv. 48H-50-3811-27-003 Acct. 101.30.6030 $
Office Cleaning - June 19, 2026
18412 Flash's Cleaning Service Additional Cleaning Day after BNO $ 150.00 Inv. 000001 Acct. 101.11.6100
L.A. County Sheriff Temple Station - July '26 13,154.26 18413 Inv. 270112AY Acct. 101-23-7410 $
18414 Pasadena Humane Society Animal Control Services - July '26 1,181.00 Jul2026Bradbury Acct. 101.25.7000 $
Post Alarm Services City Hall Monthly Fire Alarm August 26 18415 Inv. 1958510 163.36
Acct. 101-23-7420
RKA City Engineers - May '26
City Engineering Services
Inv. 37181 $ 3,528.00
Acct. 101.19.7230
Development Projects
Acct. 101.19.7230 $6,562.50
18416 Inv. 37203 $ 11,074.00
Planning Services - 1527/33 R. O. North
Acct. 103.00.2041 $703.50
NDES Coordination -UUT
Inv. 37204 Acct. 102.42.7630 280.00
Demands Warrants 26-23 2 August 18, 2026
18417 Hardy & Harper - R.O. North Pavement Repair - R.O. North Installment #1 Inv. 52279 $ 7,426.00
Acct. 101.19.7230
18418 U.S. Bank Custody Safekeeping Fees - July '26
$ 83.50
#386000224 Acct. 101.14.7010
SECTION 2 $ 36,001.39
Section 3. ACH + EFT
That the demands as set forth hereinafter are approved and warrants authorized to be drawn from the General Checking Account for payments from demands in the amount of $66,097.77 during the month of August, 2026.

Generator Inspections
Acct. 101.24.6480
Quartery is sion FY 25/26 $ 580.00
ACH Pay API Engineering
August '26
Annual Service Inspection FY 26/27 $ 2,640.00
Inv. # 115911 $ 1,040.00
Load Test FY 26/27
Inv. #115912 $ 1,020.00
EFT Pay Cal American Water 1775 Woodlyn Lane (Royal Oaks) 07.26 $ 734.98
August '26 No.210019988024 Acct. 200.48.6400
EFT Pay Cal American Water 600 Winston Ave. 07.26
August 26 No. 210019989065 Acct. 101.16.6400 $ 465.08
EFT Pay Cal American Water 2410 Mt. Olive Ln. IRRIG. 07.26 196.03 $
August 26 No.210020461222 Acct. 200.48.6400
EFT Pay Cal American Water 301 Mt. Olive St. IRRIG 07.26 $ 378.37
August 26 No.210021468844 Acct. 200.48.6400
EFT Pay Cal American Water 2256 Gardi Street 07.26 63.37 $
August '26 No. 210019919035 Acct. 200.48.6400
ACH Pay
August Consensus E-Fax - August '26
$ 10.00
Inv. #3598295 Acct. 101.16.6230
'26
ACH Pay Coverall Office Cleaning - August 26
$ 394.00
August '26 Inv. 1000671224 Acct. 101.16.6460
Demands Warrants 26-23 3 August 18, 2026
Jones-Mayer. City Attorney - July '26
Inv. 143975 150 Deodar 101.15.7450 $ 5,242.50
Inv. 143976 Code Enforcement 101.15.7450 $ 63.00
ACH Pay Inv. 143977 Zoning/General Plan 101.15.6125 630.00 $ 11,668.99 August 26 Irv. 143978 1527-1533 Royal Oaks $ 360.00
103.00.2041
Inv. 143979 Monthly Retainer 101.15.7020 $ 5,373.49
ACH Pay City Manager-K. Kearney Monthly Cell Phone - August, '26 $ 75.00
August '26 Reimbursement Acct. 101.12.6440
ACH Pay LA-Rics Radio Service × 3 Radios - July, '26
$ 60.00
August 26 BRADBURY FY 26/27-01 Acct. 101.24.6470
ACH Pay Mileage Reimbursement June - Aug. '26
August M. Analyst - Paulina Reyes $ 44.52
Reimbursement 61.4 miles x$0.725/mile
'26
Priority Landscaping Services Monthly Landscaping Services August, 26 Inv. 21176 Repair City Hall Drive Way Irrigation $ 425.00 101.21.7020
City Hail 101.21.7020 $ 258.02
ACH Pay R.O.North 101.21.7015 $ 496.17|
Contracted Service $ 2,567.45
August 26 Inv. 21233 Mt. Olive 101.21.7035 664.30
Lemon Trait 101.21.7045 $ 173.85
Cut Thru Trait 101.21.7751 $ 425.11
Inv. 21337 Repair Drip Lines 101.21.7015 125.00|
ACH Pay Annual Membership FY 26/27
August Rio Hondo/San Gabriel River $ 33,178.00
Inv. MEM-26-02 Acct. 102.42.7630
'26
EFT Pay Southern Cal. Edison City Hall Lights- July, '26 Acct. 200.48.6410 $ 1,156.04
August 26 Service Acct #: 8004572845
ACH Pay Suresh Malkani City a counton, asice ly, 28 $ 2,938.95 August 26
ACH Pay TeamLogic IT Monthly IT Maintenance - Aug. '26 960.00 $
August 26 Inv. 20102 Acct. 101.16.6230
U.S. Bank Visa Card - July '26
Beed Verified $
Acct. 101.23.7450 52.44
EFT PAY Kevin Kearney CA. Planning & Development Report Visa Bill Acct. 101.11.6100 $ 45.00 $ 497.44
August 26
7515
PayPal: CA. City Managor Foundation
Memborship FY 26/27 $ 400.00
Acct. 101.12.6020
Demands Warrants 26-23 4 August 18, 2026
Pasadena Star News June Fee
Acct. 101.30.6030 $ 18.00
DropBox Monthly Fee
$ 19.99
Acct. 113.20.7040
PAXB - Microsoft 365 - July, '26 157.50
Acct. 113.20.8120 $
AMZ: Paper Clips/Agenda Holder
$ 43.61
Acct. 101.16.6200
AMZ: Envelopes to deliver CC and PC packets
Acct. 101.16.6200 $ 23.82
Broadvoice Office Voicemail 167.56
Acct. 101.16.6440 $
EFT PAY Diane Jensen AMZ: City Hall Copy Paper
Visa Bill Acct. 101.16.6200 $ 61.30 $ 806.19
August 26 6814
AMZ: Manilla folders; sheet protectors;
arge council packet envelopes $ 39.13
cot. 101.16.6201
AMZ: 2-sizes envelopes to deliver CO packets
(returned one of them) $ 38.34
Acct. 101.16.6200
NNA Services, LLC $ 160.54
Acct. 101.13.6020
Building Business Standards - State of CA.
2nd Quarter Permit Estimates $ 58.40
Acct. 101.20.7220
asadena Star News July Fee
Acct. 101.30.6030 $ 18.00
Olympus Rentals Balance Due FY 25/26
Acct. 101.11.6100 $ 49.87
AMZ- HDMI Cables for Council Chambers 9.86
EFT PAY Paulina Reyes Acct. 101.16.6200
Visa Bill $ 420.94
August 26 0448 Knight Ventures - Business Cards
with new "bradburyca.gov" $ 248.63
Acct. 101.16.6200
USPS - Everbridge Postcard Mailings 112.58
$
Acct. 101.16.6120
Professional Consulting - July, 26
Plan Check Services July '26
Inv. 50-10071-11 $ 1,374.92
Acct. 101.20.7220
ACH Pay Jim Kasama Hourly Services July '26
August '26 VCA The Code Group

9.5 hour @$165/hr. 6,842.42
Inv. 50-10003-11 $ 1,567.50$
Acct. 101.20.7240
Jim Kasama Retainer July '26
Inv. 50-10003-11 $ 3,900.00
Acct. 101.20.7210
SECTION 3 $ 66,097.77
Demands Warrants 26-23 5 August 18, 2026
SECTION 4. EMPLOYEE BENEFITS/TAX WITH HOLDINGS/SALARIES That the demands as set forth in Section 4 are approved and warrants authorized to be drawn from the General Checking Account for payments from said demands in the amount of $36,336.15 during the month of August, 2026.

CM - Kevin Kearney
Acct. 101.12.5010 3,221.25
$
Employer paid Member Contribution: $1,312.5
Employer Paid Contribution: $1,908.7:

CC - Diane Jensen
EFT Pay Acct. 101.13.5100
CAL PERS $ 1,058.41 $ 5,207.39
August 26 Member Paid Contribution: $523.13
Employer Paid Contribution: $535.28
MA - Paulina Reyes
Acct 101.16.5100 927.73
Member Paid Contribution: $458.54 $
Employer Paid Contribution: $469.19
State Tax Withholdings
$ 1,323.00
EFT Pay Acct. 101.00.2011
EDD 1,731.75
August 26 SDI Withholdings
$ 408.75
Acct. 101.00.2011
Federal Tax Withholdings
$ 3,054.50
Acct. 101.00.2011
EFT Pay Social Security Withholdings 7,441.52
IRS 3,475.50 $
August '26 Acct. 101.00.2011
Medicare Withholdings
$ 911.52
Acct. 101.00.2011
Salary $ 18,750.00
ACH Kevin Kearney Acct. 101.12.5010
$ 14,226.62
August 26 City Manager Taxes Withheld
$ (4,523.38)
Icct. 101.00.201
Salary 6,750.00
Acct. 101.13.5010
Taxes Withheld $ (1,257.13)
ACH Diane Jensen Acct. 101.00.2011
$ 3,459.74
August '26 City Clerk Plan 457 (employee's withholding) $ (1,500.00) PERS (employee's withholding) $ (523.13)
Acct. 101.13.5100
Salary
Acct. 101.16.5010 $ 5,916.67
ACH Paulina Reyes Taxes Withheld (1,189.00) $
Acct. 101.00.2011 4,269.13
August 26 Management Analyst
PERS (employee's withholding) $ (458.54)
Acct. 101.16.5100
SECTION 4 $ 36,336.15
Demands Warrants 26-23 6 August 18, 2026
Mayor, City of Bradbury Print Name Date
ATTEST:

Diane Jensen, City Clerk
"I, Diane Jensen, City Clerk, hereby certify that Resolution No. 26-23, was duly adopted by the City Council of the City of Bradbury, CA at a Regular Meeting held on the 18th day of August, 2026 by the following roll call vote:" Mayor Elizabeth Bruny
Mayor Pro Tem Szymkowski
Councilmember Hale
Councilmember Barakat
Councilmember Lathrop
Diane Jensen, City Clerk
City of Bradbury
Demands Warrants 26-23 7 August 18, 2026
RESOLUTION NO. 26-24

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BRADBURY APPOINTING TO THE

OFFICES THE PERSONS NOMINATED TO BE ELECTED TO FILL A VACANCY IN THE OFFICES OF CITY COUNCIL FOR DISTRICTS 3 and 5 THAT WERE TO BE ELECTED AT THE GENERAL MUNICIPAL ELECTION ON TUESDAY, NOVEMBER 3, 2026 (FOUR-YEAR TERMS)

THE CITY COUNCIL OF THE CITY OF BRADBURY HEREBY FINDS AND RESOLVES AS FOLLOWS:

WHEREAS, pursuant to Section 10229 of the Elections Code of the State of California, as of the close of the nomination period on August 7, 2026, there are not more candidates than offices to be elected and Section 10229 of the Elections Code allows one of the following courses of action to be taken by the City Council:

1. Appoint to the office the person who has been nominated.

2. Appoint to the office any eligible voter if no one has been nominated.

3. Hold the election if either no one or only one person has been nominated.

NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Bradbury does hereby resolve, declare, determine and order as follows pursuant to Section 10229 of the Elections Code of the State of California:

SECTION 1. The following persons are hereby appointed to the offices to which they were nominated and are considered to be the same as being elected, pursuant to Section 10229(a)(3) of the Elections Code:

NAME OFFICE TERM
Richard G. Barakat City Councilmember - District 3 2026-2030 Elizabeth Bruny City Councilmember - District 5 2026-2030 SECTION 2. The general municipal election scheduled to be held on Tuesday, November 3, 2026, isnow canceled.

SECTION 3. The persons appointed shall qualify and take office and serve exactly as if elected at the general municipal election heretofore scheduled for November 5, 2024 for the office of City Councilmember.

SECTION 4. The City Clerk shall certify to the passage and adoption of this Resolution and enter it into the book of original Resolutions.

SECTION 5. The City Clerk shall be directed to forward a certified copy of this Resolution to the County of Los Angeles Registrar of Voters and formally request the cancelation of the general municipal election.

PASSED AND ADOPTED by the City Council of the City of Bradbury, State of California this 18" day of August, 2026, by the following vote:

MAYOR- CITY OF BRADBURY
ATTEST:

CITY CLERK - CITY OF BRADBURY
I, Diane Jensen, City Clerk, hereby certify that the foregoing Resolution, being Resolution No. 26-24, was duly adopted by the City Council of the City of Bradbury, California, at a regular meeting held on the 18'h day of August, 2026 by the following roll call vote:"

AYE NO ABSENT ABSTAIN
Mayor Elizabeth Bruny
Mayor Pro Tem Szymkowski
Councilmember Lathrop
Councilmember Barakat
Councilmember Hale

CITY CLERK - CITY OF BRADBURY
Elizabeth Brunry, Mayor (District 5)
Melodie Szymkowskj, Mayor Pro Tem (District 2)
Richard I: Hale, Ir., Council Member (District 1)
Richard Barakat, Council Member (District 3)
Bruce Lathrop, Council Member (District 4)

BRADBURY
City of Bradbury
Agenda Memo
TO: Honorable Mayor and Members of the City Council
FROM: Kevin Kearney, City Manager
DATE: August 18, 2026
SUBJECT: SANITATION DISTRICT - TAX SHARING RESOLUTION
ATTACHMENTS: 1) Cover Letter & Tax Sharing Resolution

RECOMMENDATION
It is recommended that the City Council adopt the Joint Tax Sharing Resolution with the Sanitation Districts of Los Angeles County.

SUMMARY
406 Mt. Olive Drive recently connected to the sewer. The property's development and connection has initiated the process with the Sanitation District of Los Angeles County to annex the sewer connection into the County District, so that the property might receive off-site disposal of sewerage.

This annexation process is routine when dealing with new sewer lines and new developments.

FOR CITY COUNCIL AGENDA 2 AGENDA ITEM # E
ATTACHMENT #1
Robert C. Ferrante
LOS ANGELES COUNTY Chief Engineer and General Manager
SANITATION DISTRICTS 1955 Workman Mill Road, Whittier, CA 90601-1400 Converting Waste Into Resources Mailing Address: P.O. Box 4998, Whittier, CA 90607-4998 (562) 699-7411 • www.lacsd.org
& 2026 July 23, 2026
General Annexation File
Ms. Diane Jensen, City Clerk
City of Bradbury
600 Winston Avenue
Bradbury, CA 91010
Dear Ms. Jensen:

Tax Sharing Resolutions
Thank you for signing and returning the last joint resolutions that were submitted to your office for tax sharing purposes.

Enclosed, in triplicate, is a Joint Tax Sharing Resolution (resolution) involving your city and others. The applicant has requested, in writing, annexation of his property into the County Sanitation District No. 22 (District) in order to receive off-site disposal of sewage. Please see the table below for the annexation and its associated project. The annexation process requires that a resolution for property tax revenue exchange be adopted by all the affected local agencies before an annexation may be approved.

For any jurisdictional change which will result in a special district providing new service not previously provided to an area, the law requires the governing bodies of all local agencies that receive an apportionment of the property tax from the area to determine by resolution the amount of the annual tax increment to be transferred to the special district (Revenue and Taxation Code Section 99.01). Please note that by sharing the property tax increment with the District resulting from this annexation, your city will not lose any existing ad valorem tax revenue it currently receives from the affected territory. Your city would only be giving up a portion of the revenues it would receive on increased assessed valuation.

Annexation No. Type of Project
22-451 one existing single-family home and one proposed single- family home
Also, attached for the annexation is a copy of the applicable worksheet and map showing the location of the annexation. The worksheet lists the annual tax increment to be exchanged between your city, other affected taxing entities, and the District. The tax sharing ratios listed in the worksheet were calculated by the County Auditor Controller by specific Tax Rate Area (TRA). For example, if the annexing territory were to lie within two separate TRAs, there would be a worksheet for each TRA. The Los Angeles County Chief Executive Office (CEO) is requiring the District to implement the worksheet for all District annexations in order to increase efficiency for the calculation of property tax sharing ratios.

Printed on
Recycled Paper
Ms. Diane Jensen 2 July 23, 2026
The resolution is being distributed to all parties for signature in counterpart. Therefore, you will only be receiving a signature page for your city. Enclosed are three sets of the resolution. One set of the resolution is for your files and the other two sets of the resolution need to be returned to the District. Please execute the two sets of the resolution and return them to the undersigned within 60 days as required by the Government Code. In addition, the County CEO's legal counsel is also requesting that the signature pages be properly executed from all affected agencies. Therefore, please have the Attest line signed by the appropriate person. Upon completion of the annexation process, your office will receive a fully executed copy of the tax sharing resolution for your files.

Your continued cooperation in this matter is very much appreciated. If you have any questions, please do not hesitate to call me at (562) 908-4288, extension 2708.

Very truly yours,
stil
Shirly Wang
Customer Service Specialist
Facilities Planning Department
SW:sw
Enclosures: 22-451
DOC 2109078
•

JOINT RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF LOS ANGELES

ACTING IN BEHALF OF
Los Angeles County General Fund
Los Angeles County Library
Los Angeles County Consolidated Fire Protection District Los Angeles County Flood Control
THE BOARD OF DIRECTORS OF COUNTY SANITATION DISTRICT NO. 22 OF LOS ANGELES

COUNTY, AND THE GOVERNING BODIES OF
City of Bradbury
Upper San Gabriel Valley Municipal Water District

APPROVING AND ACCEPTING NEGOTIATED EXCHANGE OF PROPERTY TAX REVENUES RESULTING FROM ANNEXATION TO COUNTY SANITATION DISTRICT NO. 22. "ANNEXATION NO. 451"
WHEREAS, pursuant to Section 99 and 99.01 of the Revenue and Taxation Code, prior to the 2222223
by resolution; and
WHEREAS, the governing bodies of the agencies signatory hereto have made determinations of the amount of property tax revenues from the annual tax increments to be exchanged as a result of the annexation to County Sanitation District No. 22 entitled Annexation No. 451; NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:

1. The negotiated exchange of property tax revenues resulting from the annexation of territory to County Sanitation District No. 22 in the annexation entitled Annexation No. 451 is approved and accepted.

2. For each fiscal year commencing on and after July 1, 2025, or after the effective date of this jurisdictional change, whichever is later, the County Auditor shall transfer to County Sanitation District No. 22 a total of 0.5158651 percent of the annual tax increment attributable to the land area encompassed within Annexation No. 451 as shown on the attached Worksheet.

3. No additional transfer of property tax revenues shall be made from any other tax agencies to County Sanitation District No. 22 as a result of annexation entitled Annexation No. 451.

4. No transfer of property tax increments from properties within a community redevelopment project, which are legally committed to a Community Redevelopment Agency, shall be made during th period that such tax increment is legally committed for repayment of the redevelopment project costs

5. If at any time after the effective date of this resolution, the calculations used herein to determine initial property tax transfers or the data used to perform those calculations are found to be incorrect thus producing an improper or inaccurate property tax transfer, the property tax transfer shall be recalculated and the corrected transfer shall be implemented for the next fiscal year.

The foregoing resolution was adopted by the Board of Supervisors of the County of Los Angeles, he Board of Directors of County Sanitation District No. 22 of Los Angeles County, and the governin ›odies of City of Bradbury and Upper San Gabriel Valley Municipal Water District, signatory hereto

CITY OF BRADBURY

SIGNATURE
ATTEST: PRINT NAME AND TITLE
Secretary Date
(SIGNED IN COUNTERPART)
AUDITOR ACAFANO3 PROPERTY TAX TRANSFER RESOLUTION WORKSHEET PREPARED 02/12/2026 PAGE FISCAL YEAR 2025-2026
ANNEXATION TO: CO SANTIATION DIST. NO 22 DEBT 8.

ACCOUNT NUMBER:
22/25/2026 PROJECT NAME: ANNEXATION 22-451
DISTRICT SHARE: 0.009617114

CURRENT PROPOSED ALLOCATED
ACCOUNT # TAXING AGENCY TAX SHARE PERCENT DIST SHARE SHARE ADJUSTMENTS NET SHARE -------- ----------- .. ...... ------
001.05 LOS ANGELES COUNTY GRNERAL 0.275612604 27.5622% 0.009617114 0.002650606 -0.002712490 0.272900114 001.20 I.A.. COUNTY ACCUM CAP OUTLAY 0.000104494 0.0104 % 0.00961.7114 0.000001004 0.000000000 0.000104494 003.01 I A COUNTY LIBRARY 0.020932372 2.0932 g 0.009617114 0.000201309 -0.000201309 0. 020731063 007.30 CONSOL. FIRE PRO.DIST.OF L.A.CO. 0.160728623 16.0728 % 0:009617114 0.001545745 -0.001545745 0.159182878 007.31 I A C FIRE-FEW 0.006330407 0.6330 % 0.009617114 0. 000060880 0.000000000 0.006330407 030.10 L.A.CO.FL.CON.DR.IMP.DIST.MATNT. 0. 001511381 0. 1511 % 0.009617114 0.000014535 -0.000014535 0.001496846 030.70 LA CO FLOOD CONTROL MAINT 0.008552983 0.8552 % 0.009617111 • 0.000082255 -0.000082255 0.008470728 122.01 CITY-BRADBURY ID #1 0.062129674 6.2129 % 0.009617114 0.000597508 -0.000597508 0. 061532166 368.05 UPPER SAN GAB. VY. MUN. WATER 0. 000500095 0.0500 % 0.009617114 0.000004809 -0.000004809 0.000495286 400.00 EDUCATIONAL REV AUGMENTATION ED 0.070611588 EXEMPT 0.070611588 400.01 EDUCATIONAL AUG FD IMPOUND 0.143297735 14.3297% 0.009617114 0.001378110 EXEMPT 0.143297735 400.15 COUNTY SCHOOL SERVICES 0.001296446 0.1296 % 0.009617114 0.000012468 EXEMPT 0.001296446 400.21 CHILDREN'S INSTIL TUITION FUND • 0.002572897 0.2572 8 0.009617114 0.000024743 EXEMPT 0. 002572897 791.04 CITRUS COMMUNITY COLLEGE DIST 0. 022754829 2.2751 g 0.009617114 0.000218835 EXEMPT 0.022754829 791.20 CHILDREN'S CTR FUND CITRUS C C 0.000593503 0.0593 g 0.009617114 0.000005707 EXEMPT 0.000593503 855.03 DUARTE UNIFIED SCHOOL DISTRICT 0.213250768 21.3250 % 0.009617114 0.002050856 EXEMPT 0.213250768 855.06 CO. SCH. SERV.FD. - DUARTE 0.008320192 0.8320 % 0.009617114 0. 000080016 EXEMPT 0. 008320192 855.07 DEV.CTR.HDCPD.MINOR-DUARTE 0. 000899409 0.0899 % 0.009617114 0.000008649 EXEMPT 0.000899409 ***066.85 CO. SANITATION DIST. NO 22 DEBT S. 0.000000000 0.0000 % 0.009617114 0. 000000000 0.000000000 0. 005158651 AUDITOR ACAFANO3 PROPERTY TAX TRANSFER RESOLUTION WORKSHEET PREPARED 02/12/2026 PAGE FISCAL YEAR 2025-2026
ANNEXATION NUMBER: 22-451 PROJECT NAME: ANNEXATION 22-451 TRA: 03403

CURRENT PROPOSED ALLOCATED
ACCOUNT # TAXING AGENCY TAX SHARE PERCENT DIST SHARE SHARE ADJUSTMENTS NET SHARE -----------
TOTAL: 1.000000000 100.0000% 0.009617114 -0.005158651 1.000000000 SUBDIVISION OF AZUSA RANCHO DE DUARTE TRACT NO. 51860,
Op RIM RD
1222 77 - 78 CITY OF

POINT OF WESTVALE RD DUARTE

BEGINNING OLI

RD SUNNYDALE DR
405 TIH NOYVHS.
09-30-2009 MOUNT LN SUSAN
NOTES WESTVALE BROOK PL (111d) BROOK
TRACT NO. 62064,
1346 / 88 - 89 PULLIN MOUNT MARK-
436 WOOD ST
06-29-2021 I CONATA ST ST
ANNEX NO. 22-451
DUARTE MOUNT: DALBO VIEW
SEC. 29, S 00°03'55" OLIVE T OYAL
LN AVE
TIN, RIOW, S.B.M. CITY OF * BERNWOOD
BRADBURY! GARDST

CITY OF BRADBURY GARDI INEYARD
TR NO. 22656, • ROYAL OAKS DR
L10 TRUE POINT
M.B. 613 / 24. - 26 OF BEGINNING * CRESTFIELD DR

BASHOR ST BASHOR ST

MARKWOOD ST

VICINITY MAP
MOUNT OLIVE DR. PARCELA APN 8527-016-021 NO SCALE

COURSE DATA
INST NO:20210227181 O.R. S 00°03'55" E
OF 124.96'

PARCEL B
S5655'4W 573.54'
N 19°35'45 W 110.06'
C4 R = 200.00* L = 163.30' D= 46°46'53"
L5 069°36'504 E 240.97'
TRACT NO. 15056, L6 S 34°37'19" E 85.00'
349 / 10 - 11 N 54°10'00" E 22.50'
422 N 35°27'00" E 292.92'
08-20-2015
L9 556048'13"E 87.30'
L10 90.30'

CONATA ST
Lot
Path: R:lPlanning\PropertyManagementlAnnexationslAnnex_GIS\Projects122_451.mxd 100 200 Feet
TR NO. 17991, M.B. 503 / 36 38 PROPOSED /
Lot / :/

DALBO ST
M.R. 80 82
COUNTY SANITATION DISTRICT NO. 22
"FOR TAX ASSESSMENT Annexation No. 451 shown thus OF LOS ANGELES COUNTY, CA

OFFICE OF CHIEF ENGINEER
PURPOSES ONLY " Boundary of Sanitation District No. 22 prior

CHIEF ENGINEER & GENERAL MANAGER
to Annexation No. 451 shown thus
City Boundary ... - .. ANNEXATION NO. 451
ANNEX. NO.

CAMS Centerine, D Cry Boundary Prior Annexations shown thus (RECORDING DATE) COUNTY SANITATION DISTRICT NO. 22 Document LA County Sanitation Districts:

AnnexationLayer and District Layer Area of Annexation 2.655 Acres EAO/MAY 5, 2026

JOINT RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF LOS ANGELES

COUNTY, AND THE GOVERNING BODIES OF
City of Bradbury
Upper San Gabriel Valley Municipal Water District

APPROVING AND ACCEPTING NEGOTIATED EXCHANGE OF PROPERTY TAX REVENUES RESULTING FROM ANNEXATION TO COUNTY SANITATION DISTRICT NO. 22. "ANNEXATION NO. 451"
WHEREAS, pursuant to Section 99 and 99.01 of the Revenue and Taxation Code, prior to the effective date of any jurisdictional change which will result in a special district providing a new service, he governing bodies of all local agencies that receive an apportionment of the property tax from the are nust determine the amount of property tax revenues from the annual tax increment to be exchange between the affected agencies and approve and accept the negotiated exchange of property tax revenues by resolution; and
WHEREAS, the governing bodies of the agencies signatory hereto have made determinations of the amount of property tax revenues from the annual tax increments to be exchanged as a result of the annexation to County Sanitation District No. 22 entitled Annexation No. 451; NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:

3. No additional transfer of property tax revenues shall be made from any other tax agencies to County Sanitation District No. 22 as a result of annexation entitled Annexation No. 451.

4. No transfer of property tax increments from properties within a community redevelopment project, which are legally committed to a Community Redevelopment Agency, shall be made during the period that such tax increment is legally committed for repayment of the redevelopment project costs.

If at any time after the effective date of this resolution, the calculations used herein to determine initial property tax transfers or the data used to perform those calculations are found to be incorrect thus producing an improper or inaccurate property tax transfer, the property tax transfer shall be recalculated and the corrected transfer shall be implemented for the next fiscal year.

The foregoing resolution was adopted by the Board of Supervisors of the County of Los Angeles, the Board of Directors of County Sanitation District No. 22 of Los Angeles County, and the governing bodies of City of Bradbury and Upper San Gabriel Valley Municipal Water District, signatory hereto.

CITY OF BRADBURY

SIGNATURE
ATTEST: PRINT NAME AND TITLE
Secretary Date
(SIGNED IN COUNTERPART)
AGENDA ITEM NO. 3
PRESENTATION:

FISCAL YEAR 2024-2025

ANNUAL FINANCIAL

AUDIT REPORT
Elizabeth Bruzzy, Mayor (District 5)
Melodie Szymkowski, Mayor Pro Tem (District 2)
Richard T. Hale, Jr., Council Member (District 1)
Richard Barakat, Council Member (District 3)
BRADBURY Bruce Lathrop, Council Member (District 4)
City of Bradbury
Agenda Memo
TO: Honorable Mayor and Members of the City Council
FROM: Kevin Kearney, City Manager
DATE: August 18, 2026
SUBJECT: Fiscal Year 2024-2025 Annual Financial Audit Report ATTACHMENT: 1) Independent Auditors' Reports and Basic Financial Statements 2) Independent Accountants Report on Apply Agreed-Upon
Procedures to Appropriations Limit Schedule

SUMMARY
As required by local and State law, the City of Bradbury must complete an annual audit of its financial activities. The Pun Group has completed its independent audit of the City's general-purpose financial statements for fiscal year 2024-25 and found no material weaknesses or significant deficiencies. The City Treasurer has reviewed the report.

It is recommended the City Council receive and file the Independent Auditors' Reports and Basic Financial Statements, and Independent Accountants Report on Applying Agreed-Upon Procedures to Appropriations Limit Schedule as presented.

A representative from the Pun Group will be presenting the report to the City Council during the meeting.

ANALYSIS
The Pun Group Accountants & Advisors have prepared the annual independent auditor's report and general-purpose financial statement for the fiscal year ending June 30, 2025. The work was completed in accordance with generally accepted auditin 9/18/26 3
FOR CITY COUNCIL AGENDA AGENDA ITEM #
FY 24-25 Audit Report

Page 2 of 2 ends

Suited Stait Government Auditing Standards, issued by the Comptroller General of the It was determined that the statements present fairly in all material respects the financial position of the City of Bradbury and that they are in conformity with the generally accepted accounting principals. With regard to internal controls over financial reporting, the independent auditors noted no matters that they would consider to be a material weakness.

The City Council's approval and acceptance of the Fiscal Year 2024-25 audited financial report is needed to remain in compliance with local, State and Federal law.

FINANCIAL REVIEW
=
There is no financial impact in accepting this report.

STAFF RECOMMENDATION
It is recommended the City Council receive and file the Independent Auditors' Reports and Basic Financial Statements, and Independent Accountants Report on Applying Agreed-Upon Procedures to Appropriations Limit Schedule as presented.

ATTACHMENT #1
City of Bradbury
Bradbury, California
Independent Auditor's Reports and
Basic Financial Statements
For the Year Ended June 30, 2025
THE

PUN GROUP

ACCOUNTANTS & ADVISORS

City of Bradbury
Basic Financial Statements
For the Year Ended June 30, 2025
Table of Contents
Page
Independent Auditor's Report on the Financial Statements. .. 1 Basic Financial Statements:

Government-Wide Financial Statements:

Statement of Net Position. .. У
Statement of Activities... 10
Governmental Fund Financial Statements:
1 r
Balance Sheet. . 13
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position.. 14
Statement of Revenues, Expenditures, and Changes in Fund Balances. 15 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Government-Wide Statement of Activities • 16
Notes to the Basic Financial Statements ... ... 19
Required Supplementary Information (Unaudited):

Budgetary Comparison Schedules:

General Fund... .43
Citizens' Option for Public Safety (COPS) Special Revenue Fund 44 Budgetary Information.. 45
Schedule of the City's Proportionate Share of the Net Pension Liability and Related Ratios 46 Schedule of the City's Contributions - Pensions. 48
City of Bradbury
Basic Financial Statements
For the Year Ended June 30, 2025
Table of Contents (Continued)
Page
Supplementary Information:

Combining Balance Sheet . 55
Combining Statement of Revenues, Expenditures, and
.. 59
. 63
64 STPL Special Revenue Fund ...... 65
Recycling Grant Special Revenue Fund 66
Measure M Special Revenue Fund
Fire Grant Special Revenue Fund 68
TDA Special Revenue Fund ....

Gas Tax Special Revenue Fund 70
Proposition C Special Revenue Fund.... 71
SB 1 Gas Tax Special Revenue Fund ....

Measure W Special Revenue Fund...

Utility User Tax Special Revenue Fund. ... 74
Public Transportation (Prop A) Special Revenue Fund ..75 Independent Auditor's Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards. ...77
THE

PUN GROUP

ACCOUNTANTS & ADVISORS
& Hussan Can, Cali mil 32700

INDEPENDENT AUDITOR'S REPORT
www.pungroup.cpa
To the Honorable Mayor and Members of the City Council
of the City of Bradbury
Bradbury, California
Report on the Audit of the Financial Statements
Opinions
We have audited the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Bradbury, California (the "City"), as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise the City's basic financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the City as of June 30, 2025, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Emphasis of Matter
GASB Statement No. 101, Compensated Absences
As discussed in Notes 2 and 13 to the Financial Statements, the City restated its beginning net position to reflect the implementation for compensated absences under GASB Statement No. 101. Our opinion is not modified with respect to this matter.

Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

ORANGE COUNTY • SAN DIEGO • SACRAMENTO • WALNUT CREEK • LAS VEGAS • PHOENIX f To the Honorable Mayor and Members of the City Council
of the City of Bradbury
Bradbury, California

Page 2 ends

Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinions.

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with auditing standards generally accepted in the United States of America and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards, we
exercise professional judgment and maintain professional skepticism throughout the audit. identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, no such opinion is expressed. evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the Budgetary Comparison Schedules, the Schedules of the City's Proportionate Share of the Net Pension Liabilities and Related Ratios, and the Schedule of the City's Contributions - Pensions be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the Required Supplementary Information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
2 To the Honorable Mayor and Members of the City Council of the City of Bradbury
Bradbury, California

Page 3 ends

Management has omitted the Management's Discussion and Analysis ("MD&A") that accounting principles generally accepted in the United States of America required to be presented to supplement the basic financial statements. Such missing information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion on the basic financial statements is not affected by this missing information.

Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City's basic financial statements. The Combining and Individual Nonmajor Fund Financial Statements are presented for purposes of additional analysis and are not a required part of the basic financial statements. The Combining and Individual Nonmajor Fund Financial Statements are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the Combining and Individual Nonmajor Fund Financial Statements are fairly stated in all material respects, in relation to the basic financial statements as a whole.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated July 23, 2026, on our consideration of the City's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City's internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City's internal control over financial reporting and compliance.

The fun Group, L4
Santa Ana, California
July 23, 2026
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BASIC FINANCIAL STATEMENTS
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GOVERNMENT-WIDE FINANCIAL STATEMENTS
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8 City of Bradbury
Statement of Net Position
June 30, 2025
Governmental
Activities
ASSETS
Current assets:

Cash and investments $ 6,750,441
Accounts receivable 195,703
Taxes receivable 48,242
Prepaid items 10,122
Total current assets 7,004,508
Noncurrent assets:

Capital assets:

Nondepreciable 263,550
Depreciable, net 3,998,464
Total capital assets 4,262,014
Total noncurrent assets 4,262,014
Total assets 11,266,522

DEFERRED OUTFLOWS OF RESOURCES
Pension related deferred outflows of resources 126,896
Total deferred outflows of resources 126,896

LIABILITIES
Current liabilities:

Accounts payable and accrued liabilities 451,080
Compensated absences - due within one year 14,478
Unearned revenue 473,903
Total current liabilities 939,461
Noncurrent liabilities:

Compensated absences - due in more than one year 7,79
Net pension liability 221,76
Total liabilities 1,169,026

DEFERRED INFLOWS OF RESOURCES
Pension related deferred inflows of resources 30,106
Total deferred inflows of resources 30,106

NET POSITION
Investment in capital assets 4,262,014
Restricted 207,867
Unrestricted 5,724,405
Total net position ≤ 10,194,286
See accompanying Notes to the Basic Financial Statements.

City of Bradbury
Statement of Activities
For the Year Ended June 30, 2025
Program Revenues Net (Expense)
- Revenue and
Operating Capital
Charges for Grants and Grants and Change in
Functions/Programs Expenses Services Contributions Contributions Net Position Governmental activities:

General government $ 1,022,227 605,316 $ 2,989 $ $ (413,922) Public safety 289,240 172,247 (116,993)
Public works 340,028 54,031 217,899 (68,060)
Parks and recreation 31,379 (31,379)
-
Total governmental activities $ 1,682,874 659,347 $ 393,135 $ 38 (630,354) General Revenues:

Property taxes 583,986
Sales taxes 1,924
Franchise taxes 161,285
Motor vehicle in lieu 163,822
Business license 24,545
Use of money and property 280,701
Total general revenues 1,224,906
Change in net position 594,552
Net Position:

Net position - beginning of year, as previously reported 9,624,092 Change in accounting principle (GASB 101) (Note 13) (24,358) Beginning of year, as restated 9,599,734
Net position - end of year 10,194,286
See accompanying Notes to the Basic Financial Statements. 10 ..............

GOVERNMENTAL FUND FINANCIAL STATEMENTS
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12 City of Bradbury
Balance Sheet
Governmental Funds
June 30, 2025
- Major Funds
Nonmajor Total
General COPS Special Governmental Governmental
Fund Revenue Fund Funds Funds
ASSETS
Cash and investments $ 5,339,866 707,526 $ 703,049 $ 6,750,441 Accounts receivable 188,585 7.118 195,703
Taxes receivable 48,242 48,242
Prepaid items 10,122 ... 10,122
Due from other funds 6,179 3,544 9,723
Total assets 5.52,994 $ 707.526 713,711 $ 7.014,231

LIABILITIES, DEFERRED INFLOWS

OF RESOURCES AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities $ 256,944 $ 124,129 70,007 $ 451,080 Unearned revenues 471,490 2,413 473,903
Due to other funds 3,544 6,179 9,723
Total liabilities - 260,488 595,619 78,599 934,706
Deferred Inflows of Resources:

Unavailable revenue 120,491 - 120,491
Total deferred inflows of resources 120,491 120,491
Fund Balances:

Nonspendable 10,122 10,122
Restricted 1111,907 95,960 207,867
Committed 539.152 539,152
Assigned 1,000,000 : 1,000,000
Unassigned 4,201,893 4,201,893
- 111900 635,112
Total fund balances 5,212,015 5,959,034
Total liabilities, deferred inflows
of resources and fund balances 5,592,994 $ 707,526 $ 713,711 $ 7,014,231 See accompanying Notes to the Basic Financial Statements. 13 City of Bradbury
Reconciliation of the Governmental Funds Balance Sheet
to the Government-Wide Statement of Net Position
June 30, 2025
Total Fund Balances - Total Governmental Funds $ 5,959,034 Amounts reported for governmental activities in the government-wide statement of net position were different because:

Capital assets used in governmental activities were not financial resources and therefore, were not reported in governmental funds.

Capital assets, nondepreciable $ 263,550
Capital assets, net of accumulated depreciation 3,998,464 4,262,014 Net pension liabilities and the related deferred outflows of resources and deferred inflows of resources are not due and payable in the current period or not available for current expenditures and are not reported in the governmental Pension related deferred outflows of resources 126,896
Net pension liability (221,769) =
Pension related deferred inflows of resources (30,106)
Long-term liabilities applicable to the City's governmental activities are not due and payable in the current period and, accordingly are not reported as fund liabilities. All liabilities, both current and long-term and related deferred outflows and inflows of resources are reported in the Statement of Net Position:

Compensated absences (22,274)
Revenue reported as unavailable revenue in the governmental funds when it is not received soon enough after year- end for current expenditures. The availability criteria does not apply to the Government-Wide Financial Statements and, therefore, the revenue is recognized when eligibility requirements are met and earned. 120,491 Net Position of Governmental Activities $ 10,194,286
See accompanying Notes to the Basic Financial Statements. 14 City of Bradbury
Statement of Revenues, Expenditures, and Changes in Fund Balances Governmental Funds
For the Year Ended June 30, 2025
- Major Funds
Nonnajor Total
General COPS Special Governmental Governmental
Fund Revenue Fund Funds Funds
-
REVENUES:

Taxes $ 917,720 $ $ $ 917,720
Licenses and permits 169,609 169,609
Use of money and property 254,458 32,037 42,138 328,633 Intergovernmental 73,581 127,279 195,426 396,286
Charges for services 459,461 : 459,461
Other revenue 10,536 : 10,536
Total revenues = 1,885,365 159,316 237,564 2,282,245
EXPENDITURES:

Current:

General government 965,838 : 965,838
Public safety 161,961 127,279 289,240
Public works 2,452 275,004 277,456
Parks and recreation 31,379 31,379
Capital outlay 325,616 274,438 600,054
Total expenditures 1,487,246 549,442 2,163,967
REVENUES OVER (UNDER) EXPENDITURES 398,119 32,037 (311,878) 118,278 OTHER FINANCING SOURCES (USES):

Transfers in 15,081 15,081
Transfers out (15,081) - (15,081)
Total other financing sources (uses) (15,081) 15,081
Net change in fund balances 383,038 32,037 (296,797) 118,278 FUND BALANCES:

Beginning of year 4,828,977 79,870 931,909 5,840,756
End of year 5,212,015 $ 111,907 $ 635,112 $ 5,959,034
See accompanying Notes to the Basic Financial Statements. 15 City of Bradbury
Reconciliation of the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the Government-Wide Statement of Activities For the Year Ended June 30, 2025
Net Change in Fund Balances - Total Governmental Funds: $ 118,278 Amounts reported for governmental activities in the statement of activities are different because:

Capital assets used in governmental activities are not financial resources and therefore are not reported in governmental funds:

Capital outlay $ 595,642
Depreciation (82,461) 513,181
ertain pension expenses reported in the Statement of Activities do not require the use of current financial resources an erefore, are not reported as expenditures in governmental funds, net of contribution made after measurement date in th amount of $47,278 (34,172)
Change in compensated absences 2,084
Revenues reported as unavailable revenue in the governmental funds and recognized as revenue in the Statement of Activities. (4,819)
Change in Net Position of Governmental Activities $ $94,552 See accompanying Notes to the Basic Financial Statements. 16 NOTES TO THE BASIC FINANCIAL STATEMENTS
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18 City of Bradbury
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
Note 1 - Reporting Entity
The City of Bradbury, California (the "City"), was incorporated on July 26, 1957. The City provides a broad range of services to its citizens, including general government, public safety, streets, sanitation, and parks and recreation.

Many of the municipal governmental functions of the City are provided by special districts. Examples of some of these special districts, which usually encompass areas larger than the City itself, are the Fire Protection District, the Library District, the Sewer Maintenance District and the County Flood Control District. Certain other governmental functions are paid for by the City, but performed by Los Angeles County departments under contract. Some of the contracts now in effect are for police protection, street maintenance, and tax collection services.

The City is a general law city operating under the City Council/City Manager form of government. The financial reporting entity of the City is comprised of various funds. The accompanying financial statements include those of the City and contain only the funds of the City.

In evaluating how to define the City for financial reporting purposes, management has considered all potential component units. The primary criteria for including a potential component unit within the reporting entity are the governing body's financial accountability and a financial benefit or burden relationship and whether it is misleading to exclude. A primary government is financially accountable and shares a financial benefit or burden relationship, if it appoints a voting majority of an organization's governing body and it is able to impose its will on the organization, or if there is a potential for the organization to provide specific financial benefits to, or impose specific financial burdens on the primary government. A primary government may also be financially accountable if an organization is fiscally dependent on the primary government regardless of whether the organization has a separately elected governing board, a governing board appointed by a higher level of government, or a jointly appointed board, and there is a potential for the organization to provide specific financial benefits to, or impose specific financial burdens on the primary government.

There are no component units for the City that meet the criteria for blended or discrete presentation.

Note 2 - Summary of Significant Accounting Policies
A. Basis of Presentation
The basic financial statements of the City have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") as applied to governmental agencies. The Governmental Accounting Standards Board ("GASB") is the accepted standard setting body for establishing governmental accounting and financial reporting principles.

B. Measurement Focus, Basis of Accounting, and Financial Statements Presentation The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for in a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures. City resources are allocated to account for in individual funds based upon the purpose for which they are to be spent and the means by which spending activities are controlled.

Government-Wide Financial Statements
The City's government-wide financial statements include a statement of net position and a statement of activities.

These statements present summaries of governmental activities for the City. The City does not have any business- type activities; therefore, only governmental activities are reported.

City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 2 - Summary of Significant Accounting Policies (Continued) B. Measurement Focus, Basis of Accounting, and Financial Statements Presentation (Continued) Government-Wide Financial Statements (Continued)
The government-wide financial statements are presented on an "economic resources" measurement focus and the accrual basis of accounting. Accordingly, all of the City's assets and liabilities are included in the accompanying statement of net position. The statement of activities presents changes in net position. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned, while expenses are recognized in the period in which the liability is incurred.

Certain types of transactions are reported as program revenues for the City in three categories: (1) charges for services, (2) operating grants and contributions, and (3) capital grants and contributions.

Certain eliminations have been made in regards to interfund activities, payables, and receivables. The transfers in and out, and due to and due from other funds activities have been eliminated.

Governmental Fund Financial Statements
Governmental fund financial statements include a balance sheet and a statement of revenues, expenditures, and changes in fund balances for all major governmental funds and nonmajor funds in aggregate. An accompanying schedule is presented to reconcile and explain the differences in net position as presented in these statements to the net position presented in the government-wide financial statements. The City has presented all major funds that met the qualifications for major fund reporting.

All governmental funds are accounted for on a spending or "current financial resources" measurement focus and the modified accrual basis of accounting. Accordingly, only current assets and current liabilities are included on the balance sheets. The statement of revenues, expenditures, and changes in fund balance presents increases (revenues and other financing sources) and decreases (expenditures and other financing uses) in net current assets.

Under the modified accrual basis of accounting, revenues are recognized in the accounting period in which they become both measurable and available to finance expenditures of the current period.

Revenues are recognized as soon as they are both "measurable" and "available". Revenues are considered to be available when they are collectible within the current period as soon enough thereafter to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. The primary revenue sources, which have been treated as susceptible to accrual by the City, are property taxes, sales tax, intergovernmental revenues, other taxes, and grant revenues.

Expenditures are recorded in the accounting period in which the related fund liability is incurred.

The reconciliations of the Fund Financial Statements to the Government-Wide Financial Statements are presented to explain the differences.

The City reports the following major governmental funds:

General Fund is the general operating fund of the City. All general tax revenues and other receipts not allocated by law or contractual agreement to other funds are accounted for in this fund. Expenditures of this fund include general operating costs not paid through other funds. The General Fund is used to account for all activities of the City not accounted for in some other fund. 20 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 2 - Summary of Significant Accounting Policies (Continued) B. Measurement Focus, Basis of Accounting, and Financial Statements Presentation (Continued) Governmental Fund Financial Statements (Continued)
Citizens' Option for Public Safety ("COPS") Special Revenue Fund is used to account for the receipt and disbursement of funds allocated by the State of California and must be used for front line law enforcement expenditures.

C. Cash and Investments
Investments are reported at fair value.

Changes in fair value that occur during a fiscal year are recognized as investment income reported for that fiscal year. Investment income includes interest earnings, changes in fair value, and any gains or losses realized upon the liquidation, maturity, or sale of investments.

The City pools cash investments of all funds. Each fund's share in this pool is displayed in the accompanying financial statements as cash and investments. Investment income earned from pooled investments is allocated to those various funds based on each fund's average cash and investment balance.

Certain disclosure requirements, if applicable, for deposits and investment risks in the following areas:
• Interest Rate Risk
• Credit Risk
• Overall
• Custodial Credit Risk
• Concentration of Credit Risk
• Foreign Currency Risk
In addition, other disclosures are specified including use of certain methods to present deposits and investments, highly sensitive investments, credit quality at year-end and other disclosures.

D. Fair Value Measurements
U.S. GAAP defines fair value, establishes a framework for measuring fair value and establishes disclosures about fair value measurement. Investments, unless otherwise specified, recorded at fair value in the financial statements, are categorized based upon the level of judement associated with the inputs used to measure their fair value.

Levels of inputs are as follows:

The three levels of the fair value measurement hierarchy are described below:
• Level 1 - Inputs are unadjusted, quoted prices for identical assets and liabilities in active markets at • Level 2 - Inputs, other than quoted prices included in Level 1 that are observable for the assets and liabilities through corroboration with market data at the measurement date. • Level 3 - Unobservable inputs that reflect management's best estimate of what market participants would use in pricing the assets and liabilities at the measurement date. 21 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 2 - Summary of Significant Accounting Policies (Continued) E. Receivables
Receivables include such items as taxes, intergovernmental revenues, charges for services, miscellaneous accounts receivable, and interest receivable. No allowance for doubtful accounts has been established, as the City believes all amounts are considered to be collectible in the normal course of business.

F. Capital Assets
Capital assets are valued at historical cost or estimated historical cost if actual historical cost was not available.

The City's capitalization policy is $5,000 and above for machinery and equipment; $10,000 and above for building improvements; $20,000 and above for buildings; and $50,000 and above for infrastructure assets. Capital assets are depreciated on a straight-line basis over their estimated useful lives as follows:

Structures and Improvements 50 Years
Machinery and Equipment 7-10 Years
Infrastructure:

Roadways - Pavement 25 Years
Roadways - Signs 10 Years
Sewer - Existing Pipe 75 Years
Fence 50 Years
Curbs and Gutters 100 Years
Bridge 75 Years
G. Interfund Activity
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either "due to/from other funds" (i.e., the current portion of interfund loans) or "advances to/from other funds" (i.e., the non-current portion of interfund loans).

H. Compensated Absences
Compensated absences comprise vested accumulated vacation and sick leave. The City's liability for compensated absences is recorded in governmental activities. Under GASB 101, Compensated Absences, a liability must be recognized for leave that is attributable to services already rendered, accumulates and carries forward to future periods, and is more likely than not to be used or paid.

I. Pensions
The City contributes to the California Public Employees' Retirement System ("CalPERS"), a cost-sharing multiple- employer defined benefit pension plan. For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the plans and additions to/deductions from the plans' fiduciary net position have been determined on the same basis as they are reported by the plans. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with benefit terms. Investments are reported at fair value.

The following timeframes are used for pension reporting:

Valuation Date June 30, 2023
Measurement Date June 30, 2024
Measurement Period July 1, 2023 to June 30, 2024
22 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 2 - Summary of Significant Accounting Policies (Continued) I. Pensions (Continued)
Gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time. The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to pensions and are to be recognized in future pension expense. The amortization period differs depending on the source of the gain or loss. The difference between projected and actual earnings is amortized straight-line over 5 years. All other amounts are amortized straight-line over the average expected remaining service lives of all members that are provided with benefits (active, inactive, and retired) as of the beginning of the measurement period.

J. Deferred Outflows / Inflows of Resources
The Statement and Net Position and the Balance Sheet report separate sections for deferred outflows of resources, and deferred inflows of resources, when applicable.

Deferred Outflows of Resources represent a consumption of net assets that applies to future periods.

Deferred Inflows of Resources represent an acquisition of net assets that applies to future periods.

K. Fund Balances
In the governmental fund financial statements, fund balances are classified as follows:

Nonspendable - This amount indicates the portion of fund balance which cannot be spent because they are either not in spendable form, such as prepaid items, inventories or loans receivable, or legally or contractually required to be maintained intact, such as the principal portion of an endowment.

Restricted - This amount indicates the portion of fund balance which has been restricted a) externally imposed by creditors (such as through debt covenants), grantors, contributors, or laws or regulations of other governments; or b) imposed by law through constitutional provisions or enabling legislation.

Committed - This amount indicates the portion of fund balance which can only be used for specific purposes pursuant to formal resolution or ordinance of the City Council. The City Council is considered the highest authority for the City. Adoption of a resolution by the City Council is required to commit resources or to rescind the commitment.

Assigned - This amount indicates the portion of fund balance which is constrained by the City's intent to be used for specific purposes, but is neither restricted nor committed. The City Manager is authorized by the City Council to determine and define the amount of assigned fund balance.

Unassigned - This amount indicates the portion of fund balance that does not fall into one of the above categories. This category is for any balances that have no restrictions placed upon them. The general fund is the only fund that reports a positive unassigned fund balance amount. In other governmental funds it is not appropriate to report a positive unassigned fund balance amount. However, in governmental funds other than the general fund, if expenditures incurred for specific purposes exceed the amounts that are restricted, committed, or assigned to those purposes, it may be necessary to report a negative unassigned fund balance in that fund.

When expenditures are incurred for purposes where only unrestricted fund balances are available, the City uses the unrestricted resources in the following order: committed, assigned, and unassigned. 23 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 2 - Summary of Significant Accounting Policies (Continued) L. Net Position
In the government-wide financial statements, net position balances are classified as follows:

Investment in Capital Assets - This component of net position consists of capital assets, net of accumulated depreciation.

Restricted - This component of net position consists of restricted assets reduced by liabilities related to those assets.

Unrestricted - This component of net position is the amount of the assets, deferred outflows of resources, liabilities, and deferred inflows of resources that are not included in the determination of investment in capital assets or the restricted component of net position.

When expenses are incurred for purposes in which both restricted and unrestricted components of net position are available, the City's policy is to apply the restricted component of net position first.

M. Property Tax Revenues
Property taxes in California are levied in accordance with Article XIIIB of the State Constitution at one percent of county-wide assessed valuations. This one percent is allocated pursuant to state law to the appropriate units of local government. Property tax revenue is recognized in the fiscal year for which taxes have been levied, provided that the revenue is collected in the current period or will be collected within 60 days thereafter.

The following dates relate to property tax levies and collections:

Lien Date January 1
Levy Date July 1
Due Dates November 1 and February 1
Collection Dates December 10 and April 10
N. Use of Estimates
The preparation of the basic financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

O. Implementation of New GASB Pronouncements
During fiscal year ended June 30, 2025, the City has implemented the following new GASB Pronouncements:

GASB Statement No. 101 - In June 2022, GASB issued Statement No. 101, Compensated Absences. The objective of this Statement is to better meet the information needs of financial statement users by updating th recognition and measurement guidance for compensated absences. That objective is achieved by aligning the recognition and measurement guidance under a unified model and by amending certain previously required disclosures. Implementation of this Statement resulted in restatement of beginning net position on July 1, 2024 24 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 2 - Summary of Significant Accounting Policies (Continued) O. Implementation of New GASB Pronouncements (Continued) GASB Statement No. 102 - In December 2023, GASB issued Statement No. 102, Certain Risk Disclosures. The objective of this Statement is to provide users of government financial statements with essential information about risks related to a government's vulnerabilities due to certain concentrations or constraints which may limit a government's ability to acquire resources or control spending. The City has evaluated its exposure to financial risk stemming from concentrations and constraints. Management has determined that no concentration exists for the fiscal year ended June 30, 2025.

Note 3 - Cash and Investments
Cash and investments as of June 30, 2025 consisted of the following:
$ 296
Demand deposits 1,269,573
Investments with US Treasury 1,746,168
Investments with LAIF 3,734,404
Total $ 6,750,441

1. Deposits
The carrying amount of the City's demand deposits was S1,269,573 at June 30, 2025. The bank balances at that date were $1,269,573 the total amount of which was collateralized or insured with accounts held by the pledging financial institutions in the City's name as discussed below.

The California Government Code requires California banks and savings and loan associations to secure the City's cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest in such collateral superior to those of a general creditor. Thus collateral for cash deposits is considered to be held in the City's name.

The market value of pledged securities must equal at least 110% of the City's cash deposits. California law also allows institutions to secure City's deposits by pledging first trust deed mortgage notes having a value of 150% of the City's total cash deposits. The City may waive collateral requirements for cash deposits, which are fully insured up to $250,000 by the Federal Deposit Insurance Corporation ("FDIC'"). The City, however, has not waived the collateralization requirements.

The City follows the practice of pooling cash and investments of all funds, except for funds required to be held by fiscal agents under the provisions of bond indentures, if applicable. Interest income earned on pooled cash and investments is allocated on an accounting period basis to the various funds based on the period-end cash and investment balances.
25 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 3 - Cash and Investments (Continued)
B. Investments
Under the provisions of the City's investment policy and in accordance with Section 53601 of the California Government Code, the City may invest in the type of investments listed in the table below. The table also identifies certain provisions intended to limit the City's exposure to interest rate risk, credit risk, and concentration of credit risk.

Maximum Maximum
Percentage Investment
Authorized Investment Type Maturity of Portfolio in One Issuer Local Agency Investment Fund N/A No Limit $ 40,000,000
U.S. Government Obligations 5 Years No Limit No Limit
Certificates of Deposit 360 Days No Limit No Limit
C. Investment in Local Agency Investment Fund ("LAIF»)
As of June 30, 2025, the City had $3,734,404 invested in LAIF. LAIF determines fair value on its investment portfolio based on market quotations for those securities where market quotations are readily available and based on amortized cost or best estimate for those securities where market value is not readily available. The City's investment in LAIF is reported at amortized cost.

D. Fair Value Measurement
At June 30, 2025, investments are reported at fair value. The following table presents the fair value measurement of investments on a recurring basis and the levels within GASB 72 fair value hierarchy in which the fair value measurements fall at June 30, 2025:

Measurement Input
Investment Type (Level 1) (Level 2) Uncategorized Total U.S. Government Obligations 1,746,168 $ - $ $ 1,746,168 Local Agency Investment Fund 3,739,104 3,734,404
Total 1,746,168 $ = 3,734,404 $ 5,480,572
« Cash and cash equivalent valued at amortized cost.

E. Risk Disclosures
Interest Rate Risk - As a means of limiting its exposure to fair value losses arising from rising interest rates, the City's investment policy limits investments to a maximum maturity of five years. At June 30, 2025, the City had the following investment maturities:

Investment Maturities (in Years)
Investment Type Amount Less than 1 1 to 2 2 to 3 3 to 4 U.S. Government Obligations $ 1,746,168 $ 1,078,059 $ 250,537 $ 417,572 Local Agency Investment Fund 3,734,404 3,734,404
Total $ 5,480,572 $ 4,812,463 250,537 $ 417,572
26 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 3- Cash and Investments (Continued)
E. Risk Disclosures (Continued)
Credit Risk - State law limits investments in commercial paper and corporate bonds to the top two ratings issued by nationally recognized statistical rating organizations. It is the City's policy to limit its investments in these investment types to the top rating issued by Standard & Poor's and Moody's Investor Service. At June 30, 2025, the City's credit risks, expressed on a percentage basis, were as follows:

Credit Quality Distribution for Securities
with Credit Exposure as a Percentage of Total Investments Moody's S&P'S % of Investments
Credit Credit with Interest
Investment Type Rating Rating Rate Risk
U.S. Government Obligations Aaa AA+ 31.86%
Local Agency Investment Fund Not Rated Not Rated 68.14% Total 100.00%
Custodial Risk - For deposits, custodial credit risk is the risk that, in the event of the failure of a depository financial institution, the City will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty (e.g., broker-dealer), the City will not be able to recover the value of its investments or collateral securities that are in the possession of an outside party.

Concentration of credit risk - The City's investment policy requires diversification to avoid unreasonable and avoidable risks related to specific security types or individual financial institutions; however, the policy does not establish a specific limit on investments with any one institution.

Note 4 - Interfund Transactions
Due To and Due From
At June 30, 2025 the City had the following due to and from other funds:

Due From Other Funds
Due To Other Funds General Fund Nonmajor Governmental Funds Total Nonmajor Governmental Funds $ 6,179 $ 6,179
General Fund 3,544 3,541
Total $ 6,179 3,544 $ 9,723
Transfers In and Out
During the year ended June 30, 2025 the City had the following transfers to eliminate deficit fund balances:

Transfer Out
Transfer In General Fund
Nonmajor Governmental Funds $ 15,081
Total $ 15,081
City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 5 - Capital Assets
The following schedule shows changes in capital assets for the year ended June 30, 2025:

Balance Balance
July 1,2024 Additions Deletions Reclassification June 30,2025 Nondepreciable Assets:

Land $ 117,197 $ - $ 117,197
Construction in progress 195,407 595,642 : (644,696) 146,353 Total Nondepreciable Assets 312,604 595,642 (644,696) 263,550 Depreciable Assets:

Structures and improvements 1,081,687 1,081,687
Machinery and equipment 101,709 : : 101,709
Infrastructure 3,701,029 4,345,725.

Total Depreciable Assets 4,884,425 644,696 5,529,121
Less Accumulated Depreciation:

Structures and improvements (234,709) (18,985) (253,694) Machinery and equipment (94,136) (5,316) (99,452)
Infrastructure (1,119,351) (58,160) (1,177,511)
Total Accumulated Depreciation (L,448,196) (82,461) (1,530,657) Total Depreciable Assets, Net 3,436,229 (82,461) 644,696 3,998,464 Total Capital Assets, Net $ 3,748,833 $ 513,181 $ $ $ 4,262,014 Depreciation expense was charged in the following functions in the statement of activities:

General government $ 24,301
Public works 58,160
Total $ 82,461
Note 6 - Self-Insurance with Joint Powers Authority
A. Description of Self-Insurance Pool Pursuant to Joint Powers Agreement The City is a member of the California Joint Powers Insurance Authority (the "Authority"). The Authority is composed of 126 California public entities and is organized under a joint powers agreement pursuant to California Government Code §6500 et seg. The purpose of the Authority is to arrange and administer programs for the pooling of self-insured losses, to purchase excess insurance or reinsurance, and to arrange for group purchased insurance for property and other lines of coverage. The California JPIA began covering claims of its members in 1978. Each member government has an elected official as its representative on the Board of Directors. The Board operates through a nine-member Executive Committee.

B. Primary Self-Insurance Programs of the Authority
Each member pays an annual contribution at the beginning of the coverage period. The total funding requirement for primary self-insurance programs is based on an actuarial analysis. Costs are allocated to individual agencies based on payroll and claims history, relative to other members of the risk-sharing pool. 28 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 6 - Self-Insurance with Joint Powers Authority (Continued) B. Primary Self-Insurance Programs of the Authority (Continued) Primary Liability Program
Claims are pooled separately between police and general government exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $100,000 for each occurrence and is evaluated as a percentage of the pool's total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $100,000 to $500,000 for each occurrence and is evaluated as a percentage of the pool's total incurred costs within the second layer. (4) Incurred costs from $500,000 to $50 million, are distributed based on the outcome of cost allocation within the first and second loss layers.

The overall coverage limit for each member, including all layers of coverage, is $50 million per occurrence.

Subsidence losses also have a $50 million per occurrence limit. The coverage structure is composed of a combination of pooled self-insurance, reinsurance, and excess insurance. Additional information concerning the coverage structure is available on the Authority's website: https://cjpia.org/coverage/risk-sharing-pools/.

Primary Workers' Compensation Program
Claims are pooled separately between public safety (police and fire) and general government exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $75,000 for each occurrence and is evaluated as a percentage of the pool's total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $75,000 to $200,000 for each occurrence and is evaluated as a percentage of the pool's total incurred costs within the second layer. (4) Incurred costs from $200,000 to statutory limits are distributed based on the outcome of cost allocation within the first and second loss layers.

For 2024-25 the Authority's pooled retention is $1 million per occurrence, with reinsurance to statutory limits under California Workers' Compensation Law. Employer's Liability losses are pooled among members to $1 million. Coverage from $1 million to $5 million is purchased through reinsurance policies, and Employer's Liability losses from $5 million to $10 million are pooled among members.

C. Purchased Insurance
Pollution Legal Liability Insurance
The City participates in the pollution legal liability insurance program which is available through the Authority.

The policy covers sudden and gradual pollution of scheduled property, streets, and storm drains owned by the City. Coverage is on a claims-made basis. There is a $250,000 deductible. The Authority has an aggregate limit of $20 million.

Property Insurance
The City participates in the all-risk property protection program of the Authority. This insurance protection is underwritten by several insurance companies. City property is currently insured according to a schedule of covered property submitted by the City to the Authority. City property currently has all-risk property insurance protection in the amount of $1,517,937. There is a $10,000 deductible per occurrence except for non-emergency vehicle insurance which has a $2,500 deductible.
29 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 6 - Self-Insurance with Joint Powers Authority (Continued) C. Purchased Insurance (Continued)
Earthquake and Flood Insurance
The City purchases earthquake and flood insurance on a portion of its property. The earthquake insurance is part of the property protection insurance program of the Authority. City property currently has earthquake protection in the amount of $353,186. There is a deductible of 5% per unit of value with a minimum deductible of $100,000 Crime Insurance
The City purchases crime insurance coverage in the amount of $1,000,000 with a $2,500 deductible. The fidelity coverage is provided through the Authority.

D. Adequacy of Protection
During the past three fiscal years, none of the above programs of protection experienced settlements or judgments that exceeded pooled or insured coverage. There were also no significant reductions in pooled or insured liability coverage in 2024-2025.

Note 7 - Deferred Compensation Plan
The City had made available to its employees a deferred compensation plan, whereby employees authorize the City to withhold funds from salaries to be invested in individual investment accounts. Funds may be withdrawn by participants upon termination of employment or retirement. The City makes no contributions under the Plan. The amount held by trustees for the employees at June 30, 2025 was $41,095. The Trustee invests compensation deferred by employees in various investment options selected by the employee and retains title to all accumulated funds until they are paid to the employee or other beneficiary. Plan assets were established in the trust arrangement specified by Internal Revenue Code Section 457(g). The plan assets are not reflected on the City's financial statements.

Note 8 - Defined Benefit Pension Plans
General Information about the Pension Plan
Plan Description
The City contributes to the California Public Employees' Retirement System ("CalPERS"), a cost-sharing multiple- employer defined benefit pension plan. CaPERS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. CaPERS acts as a common investment and administrative agent for participating public entities within the State of California. Benefit provisions and all other requirements are established by State statute and City ordinance. Copies of the CaPERS annual financial report may be obtained from their website at www.calpers.ca.gov under Forms and Publications. 30 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 8 - Defined Benefit Pension Plans (Continued)
General Information about the Pension Plan (Continued)
Employees Covered by Benefit Terms
At June 30, 2023, the valuation date, the following employees were covered by the benefit terms:

Miscellaneous
Classic PEPRA
Active employees 2
Transferred and terminated employees
Retired Employees and Beneficiaries 2
Total 10
Benefit Provided
CalPERS provides retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members and beneficiaries. A classic CalPERS member becomes eligible for service retirement upon attainment of age 55 with at least 5 years of credited service. During the year ended June 30, 2013, the California's Public Employees' Pension Reform Act ("PEPRA") went into effect. Employees hired after January 1, 2013 who are new to the CalPERS system are part of the PEPRA plan. PEPRA members become eligible for service retirement upon attainment of age 62 with at least 5 years of service. The service retirement benefit is a monthly allowance equal to the product of the benefit factor, years of service, and final compensation. The final compensation is the highest 36 or 12 consecutive months' full-time equivalent monthly pay. Retirement benefits for classic employees are calculated as 2% of the average final 12 months compensation. Retirement benefit for PEPRA employees are calculated as 2% of the average final 36 months compensation.

Participant is eligible for non-industrial disability retirement if becomes disabled and has at least 5 years of credited service. There is no special age requirement. The standard non-industrial disability retirement benefit is a monthly allowance equal to 1.8 percent of final compensation, multiplied by service. Industrial disability benefits are not offered to miscellaneous employees.

An employee's beneficiary may receive the basic death benefit if the employee dies while actively employed. The employee must be actively employed with the City to be eligible for this benefit. An employee's survivor who is eligible for any other pre-retirement death benefit may choose to receive that death benefit instead of this basic death benefit. The basic death benefit is a lump sum in the amount of the employee's accumulated contributions, where interest is currently credited at 7.5 percent per year, plus a lump sum in the amount of one month's salary for each completed year of current service, up to a maximum of six months' salary. For purposes of this benefit, one month's salary is defined as the member's average monthly full-time rate of compensation during the 12 months preceding death. Upon the death of a retiree, a one-time lump sum payment of $500 will be made to the retiree's designated survivors), or to the retiree's estate.

Benefit terms provide for annual cost-of-living adjustments to each employee's retirement allowance. Beginning the second calendar year after the year of retirement, retirement and survivor allowances will be annually adjusted on a compound basis by 2 percent.
31 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 8 - Defined Benefit Pension Plans (Continued)
General Information about the Pension Plan (Continued)
Contributions
Section 20814(c) of the California Public Employees' Retirement Law ("PERL") requires that the employer Pension Liabilities (Assets), Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pension
Actuarial Methods and Assumptions Used to Determine Total Pension Liability The June 30, 2023 actuarial valuations were rolled forward to determine the June 30, 2024 total pension liabilities, based on the following actuarial methods and assumptions:

Actuarial Cost Method Entry Age Actuarial Cost Method
Actuarial Assumptions:

Discount Rate 6.90%
Inflation 2.30%
Salary Increases Varies by Entry Age and Service
Mortality Rate Table'
Post Retirement Benefit Increase
'The mortality table used was developed based on CalPERS-specific data. The probabilities of mortality are based on the 2021 CalPERS Experience Study anc Review of Actuarial Assumptions. Mortality rates incorporate full generational mortality improvement using 80% of Scale MP-2020 published by the Society o Actuaries. For more details on this table, please refer to the 2021 experience study report from November 2021 that can be found on the CalPERS website.

Long-Term Expected Rate of Return
The long-term expected rate of return on pension plan investments was determined using a building -block method in which expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, CaPERS took into account both short-term and long-term market return expectations. Using historical returns of all of the funds' asset classes, expected compound (geometric) returns were calculated over the next 20 years using a building-block approach. The expected rate of return was then adjusted to account for assumed administrative expenses of 10 Basis points. 32 City of Bradbury
Notes to thor the Year Sude Same 30, (Continucl
Note 8 - Defined Benefit Pension Plans (Continued)
Pension Liabilities (Assets), Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pension (Continued)
Long-Term Expected Rate of Return (Continued)
The expected real rates of return by asset class are as follows:

Assumed
Asset
Asset Class' Allocation Real Return 2
Global Equity - Cap-weighted 30.00% 4.54%
Global Equity - Non-Cap-weighted 12.00% 3.84%
Private Equity 13.00% 7.28%
Treasury 5.00% 0.27%
Mortgage-backed Securities 5.00% 0.50%
Investment Grade Corporates 10.00% 1.56%
High Yield 5.00% 2.27%
Emerging Market Debt 5.00% 2.48%
Private Debt 5.00% 3.57%
Real Assets 15.00% 3.21%
Leverage -5.00% -0.59%
100.00%
'An expected inflation of 2.30% used for this period.
2 Figures are based on the 2021 Asset Liability Management study.

Discount Rate
The discount rate used to measure the total pension liability was 6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member • contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan's fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

Sensitivity of the City's Proportionate Share of the Net Pension Liability (Asset) to Changes in the Discount Rate The following presents the City's proportionate share of the net pension liabilities of the Plan as of the measurement date at June 30, 2024, calculated using the discount rate of 6.90%, as well as what the City's proportionate share of the net pension liability would be if it were calculated using a discount rate that is 1 percentage-point lower (5.90%) or 1 percentage-point higher (7.90%) than the current rate:

Plan's Net Pension Liability/(Asset)
Discount Rate Current Discount Discount Rate
-1% (5.90%) Rate (6.90%) + 1% (7.90%)
Miscellaneous $ 461,226 $ 221,769 $ 24,661
Pension Plan Fiduciary Net Position
Detail information about the plan's fiduciary net position is available in the separately issued CaPERS financial report and can be obtained from CalPERS' website under Forms and Publications. 33 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 8 - Defined Benefit Pension Plans (Continued)
Pension Liabilities (Assets), Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pension (Continued)
Proportionate Share of Net Pension Liability (Asset) and Pension Expense The following table shows the plan's proportionate share of the risk pool collective net pension liability over the measurement period:

Increase (Decrease)
Plan Total Pension Plan Fiduciary Net Plan Net Pension
Miscellaneous Liability Position Liability
Balance at: 6/30/23 (Valuation date) 1,561,300 1,335,814 225,486 Balance at: 6/30/24 (Measurement date) 1,774,540 1,552,771 221,769 Net Changes during 2023-24 213,240 216,957 (3,717)
The following is the approach established by the plan actuary to allocate the net pension liability and pension expense to the individual employers within the risk pool.
(1) In determining a cost-sharing plan's proportionate share, total amounts of liabilities and assets are first calculated for the risk pool as a whole on the valuation date (June 30, 2023). The risk pool's fiduciary net position ("FNP") subtracted from its total pension liability (TPL") determines the net pension liability ("NPL") at the valuation date.
(2) Using standard actuarial roll forward methods, the risk pool TPL is then computed at the measurement date methods the rid ye (June 30, 2024). Risk pool FNP at the measurement date is then subtracted from this number to compute the NPL for the risk pool at the measurement date. For purposes of FNP in this step and any later reference thereto, the risk pool's FNP at the measurement date denotes the aggregate risk pool's FNP at June 30, 2024 less the sum of all additional side fund (or unfunded liability) contributions made by all employers during the measurement period (2023-2024).
(3) The individual plan's TPL, FNP and NPL are also calculated at the valuation date. TPL is allocated based on the rate plan's share of the actuarial accrued liability. FNP is allocated based on the rate plan's share of the market value assets.
(4) Two ratios are created by dividing the plan's individual TPL and FNP as of the valuation date from (3) by the amounts in step (1), the risk pool's total TPL and FNP, respectively. (5) The plan's TPL as of the Measurement Date is equal to the risk pool TPL generated in (2) multiplied by the TPL ratio generated in (4). The plan's FNP as of the Measurement Date is equal to the FNP generated in (2) multiplied by the FNP ratio generated in (4) plus any additional side fund (or unfunded liability) contributions made by the employer on behalf of the plan during the measurement period. (6) The plan's NPL at the Measurement Date is the difference between the TPL and FNP calculated in (5).

Deferred outflows of resources, deferred inflows of resources, and pension expenses are allocated based on the City's share of contributions during the measurement period.
34 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 8 - Defined Benefit Pension Plans (Continued)
Pension Liabilities (Assets), Pension Expenses, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pension (Continued)
Proportionate Share of Net Pension Liability (Asset) and Pension Expense (Continued) The City's proportionate share of the net pension liability was as follows:

Miscellaneous
Plan
June 30, 2023 0.00181%
June 30, 2024 0.00183%
Change - Increase (Decrease) 0.00002%
For the year ended June 30, 2025, the City recognized pension expense of $81,450 for the miscellaneous plan.

The amortization period differs depending on the source of the gain or loss. The difference between projected and actual earnings is amortized over 5-years straight line. All other amounts are amortized straight-line over the average expected remaining service lives of all members that are provided with benefits (active, inactive and retired) as of the beginning of the measurement period.

The expected average remaining service lifetime ("EARSL") is calculated by dividing the total future service years by the total number of plan participants (active, inactive, and retired). The EARSI for the miscellaneous plan risk pool for the 2023-24 measurement period is 3.8 years, which was obtained by dividing the total service years of 630,177 (the sum of remaining service lifetimes of the active employees) by 166,163 (the total number of participants: active, inactive, and retired).

At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Miscellaneous Plan
Deferred Outflows Deferred Inflows
of Resources of Resources
Pension contribution made after measurement date 47,278 $ Changes of assumptions 5,701
Difference between expected and actual experience 19,174 Actual earnings in excess of expected earning
on pension investments 12,768
Adjustment due to differences in proportions 41,975 :

Difference between employer's actual contributions
and employer's proportionate share of contributions (29,359) Total $ 126,896 $ (30,106)
For the year ended June 30, 2025, deferred outflows of resources related to pensions was $47,278, resulting from City's contributions subsequent to the measurement date, will be recognized as a reduction of the collective net pension liability in the year ending June 30, 2026.

City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 8 - Defined Benefit Pension Plans (Continued)
Pression idles fest ensin Expenses, and Deferred Outtons of Resources and Deferred Inflows of Proportionate Share of Net Pension Liability (Asset) and Pension Expense (Continued) Other amountin ported expertse ed pulos of resources and defered inflows of resources related to pensions will Measurement Period Ending June 30, Miscellaneous Plan
2025 25,942
2026 27,703
2027 241
2028 (4,374)
2029
Thereafter
Total $ 49,512
Note 9 - Compensated Absences
June 30, 202 is as als in compensated absences related liabilies for governmental activities for the year ended Balance
July 1, 2024 Balance Due within Due in More
(As restated) Net Changes June 30, 2025 One Year Than One Year overnmental Activitie
ompensated absena 24,358 358 ≤ (2,084) $ 22,274 _$ 14,478 $ 7,796 36 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 10 - Classification of Fund Balances
At June 30, 2025, fund balances are classified in the governmental funds as follows:

Major Funds
Nonmajor
General COPS Special Governmental
Fund Revenue Fund Funds Total
Nonspendable:

Prepaid items 10,122 - - $ 10,122
Restricted:

COPS 111,907 111,907
County Park Grant : 10,134 10,134
SB 1 Gas Tax : 28,541 28,541
STPL 26 26
Recycling 12,249 12,249
Fire Grant 15,091 15,091
Proposition A 26,375 26,375
TDA 3,544 3,544
Total Restricted 111,907 95,960 207,867
Committed:

Clean water 539,152 539,152
Total Committed 539,152 539,152
Assigned:

Economic uncertainties 1,000,000 1,000,000
Unassigned (deficit):

General Fund 4,201,893 4,201,893
Total Unassigned 4,201,893 4,201,893
Total Fund Balances S 5,212,015 111,907 S 635,112 5,959,034 In order to prudently protect its fiscal solvency, the City maintains a minimum assigned fund balance of $1,000,000 as reserves for economic uncertainties. The reserve is important in order to:
• Ensure that the City is able to respond to the challenges of a changing environment. • Reduce the budgetary impacts of bad economic times.
• Insulate the City from actions of the State that may result in reduction of revenues. • Mitigate exposure to natural disasters or other catastrophic events. • Demonstrate continued creditworthiness to bond rating agencies and the financial community.

The nature and purpose of each reserve is described below:

A. Infrastructure - funds set aside for one-time infrastructure expenditures relating to City owned infrastructure repairs such as streets, sewers or other City facilities.

B. Economic changes, natural disaster or other catastrophic events - funds set aside for local disasters, emergencies, and / or unexpected economic changes that adversely impact the City's financial position.

This reserve was not formally adopted by the City Council. 37 City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 11 - Other Required Disclosures
Excess of Expenditures over Appropriations
Excess Expenditures
Appropriations Expenditures over Appropriations
Major Funds:

General Fund
Publie safety 159,761 $ 161,961 $ (2,200)
Nonmajor Governmental Funds:

Recycling Grant Special Revenue Fund
Public works 6,000 26,260 (20,260)
Measure M Special Revenue Fund
111,043 126,079 (15,036)
TDA Special Revenue Fund
5,000 5,540 (540)
Proposition C Special Revenue Fund
56,271 63,489 (7,218)
Measure W Special Revenue Fund
Public works 50,506 78,485 (27,979)
The excess was due to higher than anticipated expenditures that exceeded the approved appropriations. The Council was informed of the excesses through monthly reports, and that the expenditures were higher than yearly budgete mounts due to unforeseen expenses. However, the Council did not formally increase the budgetary appropriation since the revenues were higher than expected and they exceeded the total expenditures.

Note 12 - Commitments and Contingencies
A. Grants
The City participates in Federal and State grant programs. These programs are subject to further examination by the grantors. Expenditures which may be disallowed by the granting agencies, if any, cannot be determined at this time. The City expects such amounts, if any, to be immaterial.

B. Litigation
The City has not been named in any lawsuit that has a potentially material effect on its financial position. There is one matter involving a threat of litigation, which has been accrued in the City's financial position. While the outcome of this matter if litigation is commenced is not presently determinable, in the opinion of management of the City, based in part on the advice of counsel, the resolution of this matter is not expected to have a material adverse effect on the financial position or results of operations of the City.

City of Bradbury
Notes to the Basic Financial Statements (Continued)
For the Year Ended June 30, 2025
Note 13 - Restatement of Beginning Net Position
Implementation of GASB Statement No. 101, Compensated Absences Effective for the fiscal year ended June 30, 2025, the City implemented GASB Statement No. 101, Compensated Absences. This statement establishes accounting and financial reporting standards for compensated absences including vacation, sick leave, and other paid time off. The implementation of GASB 101 resulted in a change ir accounting principle, and prior year amounts have been restated accordingly.

Under GASB 101, a liability must be recognized for leave that is attributable to services already rendered, Governmental
Activities
Beginning Net Position, as previously reported 9,624,092 Change in accounting principle:

GASB 101 - Compensated Absences (24,358)
Beginning Net Position, as restated $ 2,599,734
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40 ep.m . ..

REQUIRED SUPPLEMENTARY INFORMATION (UNAUDITED)
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42 City of Bradbury
Required Supplementary Information (Unaudited)
Budgetary Comparison Schedule
For the Year Ended June 30, 2025
General Fund
Budget Variance with
Original Final Actual Final Budget
REVENUES:

Taxes $ 828,100 $ 828,100 $ 917,720 $ 89,620
Licenses and permits 135,000 135,000 169,609 34,609
Use of money and property 110,500 110,500 254,458 143,958 Intergovernmental 71,648 71,648 73,581 1,933
Charges for services 256,850 256,850 459,461 202,611
Other revenue 5,400 5,400 10,536 5,136
Total revenues = 1,407,498 1,407,498 1,885,365 477,867
EXPENDITURES:

Current:

General government 1,083,925 1,083,925 965,838 118,087
Public safety 159,761 159,761 161,961 (2,200)
Public works 20,000 20,000 2,452 17,548
Parks and recreation 42,500 42,500 31,379 11,121
Capital outlay 180,155 180,155 325,616 (145,461)
Total expenditures 1,486,341 1,486,341 1,487,246 (905)
REVENUES OVER (UNDER) EXPENDITURES (78,843) (78,843) 398,119 476,962 OTHER FINANCING (USES):

Transfers out (15,081) (15,081)
Total other financing (uses) (15,081) (15,081)
Net change in fund balance (78,843) (78,843) 383,038 461,881 FUND BALANCE:

Beginning of year 4,828,977
End of year 5,212,015
43 City of Bradbury
Required Supplementary Information (Unaudited)
Budgetary Comparison Schedule (Continued)
For the Year Ended June 30, 2025
Citizens' Option for Public Safety (COPS) Special Revenue Fund Budget Variance with
= Original Final Actual Final Budget
REVENUES:

Use of money and property $ 10,000 $ 10,000 32,037 $ 22,037 100,000 100,000 127,279 27,279
110,000 110,000 159,316 49,316
EXPENDITURES:

Current:

Public safety 150,000 150,000 127,279 22.721.
-
Total expenditures 150,000 150,000 127,279 22,721
Net change in fund balance (40,000) $ (40,000) 32,037 72,037 FUND BALANCE:

Beginning of year 79,870
End of year $ 111,907
City of Bradbury
Required Supplementary Information (Unaudited)
Budgetary Information
For the Year Ended June 30, 2025
Budget and Budgetary Accounting
The City adopts an annual budget prepared on the modified accrual basis of accounting for the governmental funds. The City Manager or his designee is authorized to transfer budgeted amounts between the accounts of any department. Revisions that alter th otal appropriations of any department or fund must be approved by City Council. Expenditures may not legally excee ........
45 City of Bradbury
Required Supplementary Information (Unaudited)
Schedule of the City's Proportionate Share of the Net Pension Liability and Related Ratios For the Year Ended June 30, 2025
Last Ten Fiscal Years
California Public Employees' Retirement System ("CaIPERS") Miscellaneous Plan Measurement Date June 30, 2015 June 30, 2016 June 30,2017 June 30, 2018 June 30, 2019 City's Proportion of the Net Pension Liability (Asset) 0.00256% 0.00077% 0.00077% 0.00070% 0.00089% ity's Proportionate Share o
e Net Pension Liability (Asse 175,694 $ 66,246 76,419 $ 67,418 91,291 City's Covered Payroll 167,611 203,105 185,286 200,481 213,242 City's Proportionate Share of the Net Pension Liability (Asset) as a Percentage of Its Covered Payroll 104.82% 32.62% 41.24% 33.63% 42.81% =
lan's Proportionate Share of the Fiduciary Net Positio
is a Percentage of the Total Pension Liability (Asset 78.51% 92.47% 92.41% 93.76% 91.53% =
46 City of Bradbury
Required Supplementary Information (Unaudited)
Schedule of the City's Proportionate Share of the Net Pension Liability and Related Ratios (Continued) For the Year Ended June 30, 2025
Last Ten Fiscal Years
California Public Employees' Retirement System ("CaIPERS") Miscellaneous Plan Measurement Date June 30, 2020 June 30, 2021 June 30, 2022 June 30, 2023 June 30, 2024 City's Proportion of the Net Pension Liability (Asset) 0.00109% -0.00059% 0.00159% 0.00181% 0.00183% City's Proportionate Share of
the Net Pension Liability (Asset) $ 118,908 $ (32,129) 183,127 $ 225,486 221,769 City's Covered Payroll 220,732 236,424 253,205 299,362 328,748 Cil a Prepentiana Shacore Per Pension Liabiliy (Asse) 53.87% -13.59% 72.32% 75.32% 67.46% an's Proportionate Share of the Fiduciary Net Positi
a Percentage of the Total Pension Liability (Ass 89.86% 102.55% 86.93% 85.56% 87.50% =
47 City of Bradbury
Required Supplementary Information (Unaudited)
Schedule of the City's Contributions - Pensions
For the Year Ended June 30, 2025
Last Ten Fiscal Years
California Public Employees' Retirement System ("CalPERS") Miscellaneous Plan Fiscal Year 2018-19 2019-20
20151626 3016919 15 3014850 3 17,974 $ 18,537
Actuarially Determined Contribution
Contribution in Relation to the
Actuarially Determined Contribution (163,293) (11.319). 15 = (45 079(3)
Contribution Deficiency (Excess) $ (149,667)
Covered Payroll' $ 185,286 200,481 213,242 220,732 $ 236,424 135430566886311% 730 7.84%
'Payroll from prior year was assumed to increase by 2.8 percent payroll growth assumption from 2023-24 to 2024-25.

Notes to Schedule
ne actuarial methods and assumptions used to set the actuarially determined contributions for Fiscal Year 2024-25 were derived from the June 3 22 funding valuation repol
Methods and assumptions used to determine contribution rates:

Actuarial cost method Entry Age Actuarial Cost Method
Actuarial assumptions discount rate 6.90%
Inflation 2.30%
alary increase Varies by entry age and service
ayroll Growt 2.80%

7.00% Net of pension plan investment and administrative expenses; includes Investment rate of return Inflation.

The lesser of contract COLA or 2.30% until Purchasing Power Protection Post Retirement Benefit Increase Allowance floor on purchasing power applies, 2.30% thereafter.

The mortality table used was developed based on CalPERS-specific data. The Mortality study report from November 2021 that can be found on the CalPERS website. 48 City of Bradbury
Required Supplementary Information (Unaudited)
Schedule of the City's Contributions - Pensions (Continued) For the Year Ended June 30, 2025
Last Ten Fiscal Years
California Public Employees' Retirement System ("CalPERS") Miscellaneous Plan Fiscal Year 2020-21 2021-22 2023-24 2024-25
2035395
Actuarially Determined Contribution 24,748 30,103 40,856 47,278 Contribution in Relation to the
Actuarially Determined Contribution (24,748) (30,103) (35,395) (47,278) 403) →
Contribution Deficiency (Excess)
Covered Payroll' $ 253,205 299,362 $ 299,362 $ 328,748 $ 337,953 Contributions as a Percentage of
Covered Payroll 10.91% 10.06% 11.82% 13.28% 13.99%
49 This page intentionally lefe blank.
50 SUPPLEMENTARY INFORMATION
51 This page intentionally left blank.
52 NONMAJOR GOVERNMENTAL FUNDS
SPECIAL REVENUE FUNDS:

County Park Grant Special Revenue Fund - To account for the park grants provided by state and county agencies to build the recreational park located behind City Hall.

Measure R Special Revenue Fund - To account for the receipt and disbursement of funds form Los Angeles County which were created by a voter approved sales tax in 2008. These funds are allocated by Metropolitan Transportation Authority (MTA) to fund street projects.

Surface Transportation Program Local (STPL.) Special Revenue Fund - To account for the receipt and disbursement of funds received from the State of California through the MTA and must be used for street improvements on certain major streets within the City.

Recycling Grant Special Revenue Fund - To account for the receipt and disbursement of funds received from the State of California for programs that promote the recycling of waste materials.

Fire Grant Special Revenue Fund - To account for the receipt and disbursement of grant funds received from the U.S. Department of Forestry for brush clearance.

Measure M Special Revenue Fund - To account for the receipt and disbursement of funds form Los Angeles County which were created by a voter approved sales tax in 2016. These funds are allocated by MTA to fund street projects.

TDA Special Revenue Fund - To account for the receipt and distribution of funds allocated by MTA originating from the Transportation Development Act, Article 3 for the planning and construction of pedestrian and bicycle facilities.

Gas Tax Special Revenue Fund - To account for the receipt and disbursement of gas tax subventions from the State of California.

Cities are allocated a share of the revenues derived by the State from taxes on gasoline, which must be spent on construction, improvement and maintenance of public streets and street engineering services.

Proposition C Special Revenue Fund - To account for the receipt and disbursement of a portion of the ½ cent sales tax approved by the voters in 1982 and 1990. Approximately 20% of the monies generated by the tax are returned to local agencies to be used for public transportation purposes and maintenance of streets "heavily used by public transit".

SB1 Gas Tax Special Revenue Fund - To account for the receipt and disbursement of funds received from the Road Repair and Accountability Act of 2017. These funds must be spent for local streets and roads.

Measure W Special Revenue Fund - To account for the receipt and disbursement of funds form Los Angeles County which were created by a voter approved sales tax in 2016. This is funded by a parcel tax of 2.5 cents per square foot of impermeable areas.

Utility Users Tax Special Revenue Fund - To record the receipt and disbursement of funds received from the utility users tax assessed by the City. When it was approved by voters, it was specified to be separated into its own fund for the purpose of complying with the Clean Water Act. The fund is used to preserve the City's essential municipal services, maintain a safe and quality community and meet the obligations for State and Federal Mandates.

Public Transportation (Prop A) Special Revenue Fund - To account for the receipt and disbursement of funds received from the motor vehicle registration fee collected by the State of California and must be used for programs that reduce motor vehicle emissions.

The City has used these funds for the purchase of alternative fuel vehicles and for enhancements to the City's website. 53 This page intentionally left blank.
54 City of Bradbury
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
Special Revenue Funds
-
Recycling
County Park Measure R STPL Grant
Grant Fund Fund Fund Fund
ASSETS
Cash and investments $ 10,134 $ 5,223 $ $ 14,662
Accounts receivable - - -
Due from other funds
Total assets 10,134 $ 5,223 14,662

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities $ : $ 5,223 $ : $ Unearned revenues 2,113
Due to other funds
Total liabilities 5,223 2,413
Fund Balances:

Restricted 10,134 26 12,249
Committed :

Total fund balances 10,134. 26 12,249
Total liabilities and fund balances = 10,134 5,223 26 14,662 (Continued)
55 City of Bradbury
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2025
Special Revenue Funds
-
Fire Grant Measure M TDA Gas Tax
Fund Fund Fund Fund
-
ASSETS
Cash and investments 21,270 15,000 $ : $ 325
Accounts receivable - - -
Due from other funds 3,544
Total assets 21,270 $ 15,000 $ 3,544 $ 325

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities $ 15,000 $ $ 325 Unearned revenues :
-
Due to other funds 6,179
Total liabilities = 6,179 15,000 325
Fund Balances:

Restricted 15,091 3,544
Committed : :

Total fund balances 15,091 3,544
Total liabilities and fund balances 21,270 15,000 3,544 325 (Continued)
56 City of Bradbury
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2025
Special Revenue Funds
Proposition C SB 1 Gas Tax Measure W
Fund Fund Fund Utility Users Tax
-
ASSETS
Cash and investments 41,848 $ 34,19. $ $ 540,865
:

Accounts receivable -
Due from other funds
Total assets 41,848 $ 34,439 $ $ 540,865

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities $ 41,848 $ 5,898 $ $ 1,713 Unearned revenues :
-
Due to other funds
Total liabilities = 41,848 5,898 1,713
Fund Balances:

Restricted 28,541
Committed . 339,152
Total fund balances 28,541 539,152
Total liabilities and fund balances 41,848 34,439 540,865 (Continued)
57 City of Bradbury
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2025
Special Revenue
Funds
Total
Public Nonmajor
Transportation Governmental
Fund (Prop A) Funds
ASSETS
Cash and investments $ 19,257 $ 703,049
Accounts receivable 7,118 7,118
Due from other funds 3,544
Total assets $ 26,375 $ 713,711

LIABILITIES AND FUND BALANCES
Liabilities:

Accounts payable and accrued liabilities $ 70,007
Unearned revenues : 2,413
Due to other funds 6,179
Total liabilities 78,599
Fund Balances:

Restricted 26,375 95,960
Committed 539,152
Total fund balances 26,375 635,112
Total liabilities and fund balances 26,375 713,71L
(Concluded)
58 City of Bradbury
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds
For the Year Ended June 30, 2025
Special Revenue Fund
-
County Park Measure R STPL Recycling Grant
Grant Fund Fund Fund Fund
-
REVENUES:

Use of money and property $ 495 $ 1,994 $ 1,161
Intergovernmental - 14,509 6,836
Total revenues 495 16,503 38 7,997
EXPENDITURES:

Current:

Public works 26,260
Capital outlay 72,321
Total expenditures 72,321 1,111 26,260

EXCESS OF REVENUE OVER (UNDER)
EXPENDITURES 495 (55,818) (1,073) (18,263)

OTHER FINANCING SOURCES
Transfers in - 3,809
Net change in fund balances 495 (52,009) (1,073) (18,263) FUND BALANCES:

Beginning of year - 9,639 52,009 1,099 30,512
End of year 10,134 26 12,249
(Continued)
59 City of Bradbury
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds
For the Year Ended June 30, 2025
Special Revenue Fund
-
Fire Grant Measure M TDA Gas Tax
Fund Fund Fund Fund
-
REVENUES:

Use of money and property $ 1,039 $ 3,665 $ 78 $ 33
Intergovernmental 16,438 5,000 31,118
Total revenues 1,039 20,103 5,078 31,151
EXPENDITURES:

Current:

Public works 31,841
Capital outlay 126,079 3,540
Total expenditures 126,079 5,540 31,841

EXCESS OF REVENUE OVER (UNDER)
EXPENDITURES 1,039 (105,976) (462) (690)

OTHER FINANCING SOURCES
Transfers in 5,319 690
Net change in fund balances 1,039 (100,657) (462) -
FUND BALANCES:

Beginning of year 14,052 100,657 4,000
End of year 15,091 3,511
(Continued)
60 City of Bradbury
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds
For the Year Ended June 30, 2025
- Special Revenue Fund
Proposition C SB 1 Gas Tax Measure W
- Fund Fund Fund Utility Users Tax
REVENUES:

Use of money and property $ 2,513 $ 1,126 $ - $ 26,243
Intergovernmental 19,349 24,819 54,031
Total revenues 21,862 25,945 54,031 26,243
EXPENDITURES:

Current:

Public works 8,083 78,485 48,084
Capital outlay 63,489 5,898
Total expenditures 71,572 5,898 78,485 48,084

EXCESS OF REVENUE OVER (UNDER)
EXPENDITURES (49,710) 20,047 (24,454) (21,841)

OTHER FINANCING SOURCES
Transfers in 5,263
Net change in fund balances (44,447) 20,047 (24,454) (21,841) FUND BALANCES:

Beginning of year 44,447 8,494 24,454 560,993
End of year 28,541 539,152
(Continued)
61 City of Bradbury
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued Nonmajor Governmental Funds
For the Year Ended June 30, 2025
Special Revenue
Funds
Total
Public Nonmajor
Transportation Governmental
Fund (Prop A) Funds
REVENUES:

Use of money and property $ 3,753 $ 42,138
Intergovernmental 23,326 195,426
Total revenues 27,079 237,564
EXPENDITURES:

Current:

Public works 82,251 275,004
Capital outlay 274,438
Total expenditures 82,251 549,442

EXCESS OF REVENUE OVER (UNDER)
EXPENDITURES (55,172) (311,878)

OTHER FINANCING SOURCES
Transfers in 15,081
Net change in fund balances (55,172) (296,797)
FUND BALANCES:

Beginning of year 3157. 931,209
End of year $ 635,112
(Concluded)
62 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual County Park Grant Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
Original Final Actual Final Budget
REVENUES:

Use of money and property 200 200 495 295
Total revenues - 200 200 495 295
EXPENDITURES:

Current:

Public works 1,000 1,000 1,000
Total expenditures = 1,000 1,000 1,000
Net change in fund balance (800) (800) 495 $ 1,295
FUND BALANCE:

Beginning of year 2,639
End of year 10,134
63 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Measure R Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
Original Final Actual Final Budget
REVENUES:

Use of money and property 1,500 $ 1,500 1,994 494
Intergovernmental 13,000 13,000 14,509 1,509
Total revenues = 14,500 14,500 16,503 2,003
EXPENDITURES:

Capital outlay 85,641 85,641 72,321 13,320
Total expenditures = 85,641 85,641 72,321 13,320
Excess of revenue over (under) expenditures (85,641) (85,641) (72,321) 15,323 OTHER FINANCING SOURCES 4.p.

Transfers in 3,809 (3,809)
Net change in fund balance (21,141) $ (21,141) (52,009) 19,132 FUND BALANCE:

Beginning of year 52,009
End of year
64 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual STPL Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
= Original Final Actual Final Budget
REVENUES:

Use of money and property 25. 38 $ 13
Total revenues - 25 25 38 13
EXPENDITURES:

Capital outlay 1,111 1,111 1,111
Total expenditures = 1,111 1,111 1,111
Net change in fund balance (1,086) (1,086) (1,073) 13
FUND BALANCE:

Beginning of year 1,099
End of year 26
65 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Reeycling Grant Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
Original Final Actual Final Budget
REVENUES:

Use of money and property 650 $ 650 $ 1,161 $ 511
Intergovernmental 5,000 5,000 6,836 1,836
Total revenues 5,650 5,650 7,997 2,347
EXPENDITURES:

Current:

Public works 6,000 6,000 26,260 (20,260)
Total expenditures = 6,000 6,000 26,260 (20,260)
Net change in fund balance (350) (350) (18,263) $ (17,913) FUND BALANCE:

Beginning of year 30,512
End of year $ 12,249
66 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Fire Grant Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
Original Final Actual Final Budget
REVENUES:

Use of money and property 450 450 1,039 589
Total revenues 450 450 1,039 589
Net change in fund balance 450 450 1,039 $ 589
FUND BALANCE:
eginning of year 14,052
ind of year $ 15,091
67 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Measure M Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
= Original Final Actual Final Budget
REVENUES:

Use of money and property 1,900 $ 1,900 $ 3,665 $ 1,765 Intergovernmental 14,000 14,000 16,438 2,438
Total revenues = 15,900 15,900 20,103 4,203
EXPENDITURES:

Current:

Capital outlay 111,043 111,043 126,079 (15,036)
Total expenditures 111,043 111,043 126,079 (15,036)
Excess of revenue over (under) expenditures (95,143) (95,143) (105,976) (15,036)

OTHER FINANCING SOURCES
Transfers in 5,319 (5,319)
Net change in fund balance (95,143) (95,143) (100,657) $ (6,514) FUND BALANCE:

Beginning of year 100,657
End of year
68 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual TDA Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
= Original Final Actual Final Budget
REVENUES:

Use of money and property $ $ 78 $
Intergovernmental 5,0000 30000 5,000
Total revenues 5,000 5,000 5,078 78
EXPENDITURES:

Capital Outlay 5,000 5,000 5,540 (540)
Total expenditures 5,000 5,000 5,540 (540)
Net change in fund balance (462) (462)
FUND BALANCE:

Beginning of year 4,006
End of year 3,544
69 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Gas Tax Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
= Original Final Actual Final Budget
REVENUES:

Use of money and property $ 175 $ 175 33 $ (142)
Intergovernmental 30,000 30,000 31,118 1,118
Total revenues = 30,175 30,175 31,151 976
EXPENDITURES:

Current:

Public works 36,556 36,556 31,841 4,715
Total expenditures = 36,556 36,556 31,841 4,715
Excess of revenue over (under) expenditures (6,381) (6,381) (690) 5,691

OTHER FINANCING SOURCES
Transfers in 690 (690)
Net change in fund balance (6,381) (6,381) - $ 5,001
FUND BALANCE:

Beginning of year
End of year
70 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Proposition C Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
Original Final Actual Final Budget
REVENUES:

Use of money and property 900 900 2,513 $ 1,613
Intergovernmental 20,000 20,000 19,319 (651)
Total revenues 20,900 20,900 21,862 962
EXPENDITURES:

Current:

Public works 8,900 8,900 8,083 817
Capital outlay 56,271 56,271 63,489 (7,218)
Total expenditures 65,171 65,171 71,572 (6,401)
Excess of revenue over (under) expenditures (65,171) (65,171) (71,572) (5,439)

OTHER FINANCING SOURCES
Transfers in 5,263 (5,263)
Net change in fund balance (44,271) (14,271) (44,447) $ (176) FUND BALANCE:

Beginning of year 44,447
End of year
71 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual SB 1 Gas Tax Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
= Original Final Actual Final Budget
REVENUES:

Use of money and property 50 $ 50 $ 1,126 $ 1,076
Intergovernmental 19,000 19,000 24,819 5,819
Total revenues 19,050 19,050 25,945 6,895
EXPENDITURES:

Capital outlay 23,250 23,250 5,898 17,352
Total expenditures = 23,250 23,250 5,898 17,352
Net change in fund balance (4,200) $ (4,200) 20,047 $ 24,247 =
FUND BALANCE:

Beginning of year 8,494
End of year 28,541
72 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Measure W Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
Original Final Actual Final Budget
REVENUES:

Intergovernmental 50,000 50,000 54,031 4,031
Total revenues 50,000 50,000 54,031 4,031
-
EXPENDITURES:

Current:

Public works 50,506 50,506 78,485 (27,979)
Total expenditures 50,506 50,506 78,485 (27,979)
Net change in fund balance (506) $ (506) (24,454) $ (23,948) FUND BALANCE:

Beginning of year 24,454
End of year $
73 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Utility User Tax Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
Original Final Actual Final Budget
REVENUES:

Use of money and property 12,000 12,000 26,243 14,243
Total revenues - 12,000 12,000 26,243 14,243
EXPENDITURES:

Current:

Public works 62,000 62,000 48,084 13.916
Total expenditures 62,000 62,000 48,084 13,916
Net change in fund balance (50,000) $ (50,000) (21,841) $ 28,159 FUND BALANCE:

Beginning of year 560,993
End of year 539,152
74 City of Bradbury
Schedule of Revenues, Expenditures, and Change in Fund Balance - Budget and Actual Public Transportation (Prop A) Special Revenue Fund
For the Year Ended June 30, 2025
Budget Variance with
= Original Final Actual Final Budget
REVENUES:

Use of money and property 1,500 $ 1,500 $ 3,753 $ 2,253 Intergovernmental 21,000 21,000 23,326 2,326
Total revenues 22,500 22,500 27,079 4,579
EXPENDITURES:

Current:

Public works 100,497 100,497 82,251 18,246
Total expenditures 100,497 100,497 82,251 18,246
Net change in fund balance (77,997) (77,997) (55,172) $ ~ 22,825 FUND BALANCE:

Beginning of year 81,547
End of year 26,375
75 This page intentionally left blank.
9L
THE

PUN GROUP

ACCOUNTANTS & ADVISORS
6 Hutton at alril 92700
www.pungroup.cpa

REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND

OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN

ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Independent Auditor's Report
To the Honorable Mayor and Members of the City Council
of the City of Bradbury
Bradbury, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Bradbury, California (the "City"), as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise the City's basic financial statements, and have issued our report thereon dated July 23, 2026.

Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City's internal control over financial reporting (internal control") as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control. Accordingly, we do not express an opinion on the effectiveness of the City's internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the City's financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified ORANGE COUNTY • SAN DIEGO • SACRAMENTO • WALNUT CREEK • LAS VEGAS • PHOENIX f To the Honorable Mayor and Members of the City Council
of the City of Bradbury
Bradbury, California

Page 2 ends

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City's internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

The furl Group, Up
Santa Ana, California
July 23, 2026
78 ATTACHMENT #2
City of Bradbury
Bradbury, California
Independent Accountant's Report on
Applying Agreed-Upon Procedures to
Appropriations Limit Schedule
For the Year Ended June 30, 2025
THE

PUN GROUP

ACCOUNTANTS & ADVISORS
THE

PUN GROUP

ACCOUNTANTS & ADVISORS
& Hu sonian, Cal mil 32300
www.pungroup.cpa

INDEPENDENT ACCOUNTANT'S REPORT ON

APPLYING AGREED-UPON PROCEDURES
To the Honorable Mayor and the Members of the City Council of the City of Bradbury
Bradbury, California
We have performed the procedures enumerated below on the accompanying appropriation limit of the City of Bradbury, California (the "City") for the year ended June 30, 2025. The City's management is responsible for the Appropriation Limit Schedule.

The City has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose in meeting the requirements of Section 1.5 of Article XIII-B of the California Constitution, which was agreed to by the City and the League of California Cities (as presented in the publication entitled Agreed-upon Procedures Applied to the Appropriations Limitation Prescribed by Article XIII-B of the California Constitution). This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes.

The procedures and associated findings are as follows:

1. We obtained the completed worksheets used by the City to calculate its appropriations limit for the year ended June 30, 2025, and compared that the limit and annual calculation factors were adopted by resolution of City Council. We also verified that the population and inflation options were selected by a recorded vote of City Council.

Finding: No exceptions were noted as a result of our procedures.

2. For the accompanying Appropriations Limit Schedule, we added the prior year's limit to the total adjustments, and agreed the resulting amount to the current year's limit.

Finding: No exceptions were noted as a result of our procedures.

3. We compared the current year information presented in the accompanying Appropriations Limit Schedule to corresponding information in worksheets used by the City.

Finding: No exceptions were noted as a result of our procedures.

4. We compared the appropriations limit presented in the accompanying Appropriations Limit Schedule to the appropriations limit adopted by the City Council.

Finding: No exceptions were noted as a result of our procedures.

ORANGE COUNTY • SAN DIEGO • SACRAMENTO • WALNUT CREEK • LAS VEGAS • PHOENIX To the Honorable Mayor and the Members of the City Council of the City of Bradbury
Bradbury, California

Page 2 ends

We were engaged by the City to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to and did not conduct an examination or review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the accompanying Appropriations Limit Schedule.

Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

This report is intended solely for the information and use of the City Council and the management of the City and is not intended to be and should not be used by anyone other than these specified parties. However, this report is a matter of public record and its distribution is not limited.

The Purs Graup, up
Santa Ana, California
July 23, 2026
2 City of Bradbury
Appropriations Limit Schedule
For the Year Ended June 30, 2025
Amount Source
A. Appropriations Limit from FY23-24 2,797,380 Prior year appropriation limit adopted by the City
B. Calculation Factors:
1) Population increase% 1.0005 California Department of Finance 2) Inflation increase% 1.0362 California Department of Finance Total adjustment% 1.0367 (B1 x B2)
C. Annual Adjustment Increase 102,714 ((B3-1) x A)
D. Other Adjustments:
1) Loss responsibility (-) N/A
2) Transfer to private (-) : N/A
3) Transfer to fees (-) N/A
4) Assumed responsibility (+) - N/A
E. Total Adjustments 102,714 (C+D)
F. Appropriations Limit FY24-25 $ 2,900,094 (AtE)
See accompanying Notes to Appropriations Limit Schedule.

City of Bradbury
Notes to Appropriations Limit Schedule
For the Year Ended June 30, 2025
Note 1 - Purpose of Limited Procedures Review
Under Article XIIIB of the California Constitution (the Gann Spending Limitation Initiative), California governmental agencies are restricted as to the amount of annual appropriations from proceeds of taxes. Effective for years beginning on or after July 1, 1990, under Section 1.5 of Article XIIIB, the annual calculation of the appropriations limit is subject to a limited procedures review in connection with the annual audit.

Note 2 - Method of Calculation
Under Section 10.5 of Article XIIIB, for fiscal years beginning on or after July 1, 1990, the appropriations limit is required to be calculated based on the limit for the fiscal year 1986-87, adjusted for the inflation and population factors discussed in Notes 3 and 4 below.

Note 3 - Population Factors
A California governmental agency may use as its population factor either the annual percentage change of the I lied. the factor adopto the Cil for ten get and une une 2025, representy when the prediction. change in population for the County of Los Angeles.

Note 4 - Inflation factors
A California governmental agency may use as its inflation factor either the annual percentage change in the 4** quarter per capita personal income (which percentage is supplied by the California Department of Finance) or the percentage change in the local assessment roll from the preceding year due to the change of local nonresidential construction. The factor adopted by the City for the year ended June 30, 2025, represents the annual percentage change in per capita personal income.

Note 5- Other Adjustments
A California government agency may be required to adjust its appropriations limit when certain events occur, such as the transfer of responsibility for municipal services to, or from, another government agency or private entity. The City had no such adjustments for the year ended June 30, 2025. 4 AGENDA ITEM NO. 4
CalPERS UAL

UNFUNDED ACCRUED LIABILITY
Elizabeth Bruny, Mayor (District 5)
Melodie Szymkowskj, Mayor Pro Tem (District 2)
Richard T. Hale, Councilmember (District 1)
Richard Barakat, Council Member (District 3)
BRADBURY Bruce Lathrop, Council Member (District 4)
City of Bradbury
Agenda Memo
TO: Honorable Mayor and Members of the City Council
FROM: Kevin Kearney, City Manager
DATE: August 18, 2026
SUBJECT: DISCUSSION ON CALPERS UNFUNDED ACCRUED LIAIBLITY ATTACHMENTS: 1) July 2026: All Rate Plans of the City of Bradbury, Annual Valuation Report
2) July 2026: Annual Unfunded Accrued Liability Bill
3) General Fund Balance

SUMMARY
This item reviews the City's CalPERs Unfunded Accrued Liability (UAL).

It is recommended that the City Council authorize an additional discretionary payment to CalPERS in the amount necessary to pay off the City's remaining UAL, currently valued up to $217,338.

BACKGROUND
The City participates in CalPERS through the Miscellaneous Risk Pool under Rate Plans 3057 (Miscellaneous) and 26452 (PEPRA Miscellaneous). CalPERS' June 30, 2025 actuarial valuation reports that the City had an Early Age Accrued Liability of $2,013,952 and Fair Value of Assets of $1,796,614, resulting in a $712,338 Unfunded Accrued Liability. The plan was, therefore, approximately 89.2% funded as of June 30, 2025 (p.

CaPERS explains that the UAL represents the amount by which the accrued liability CaPERS UAL

Page 2 of 3 ends

exceeds plan assets and that it may be viewed as employer debt. Under the normal amortization schedule, the City continues making annual payments toward this liability in addition to the normal pension cost for current employees.

For FY 2026-27, CalPERS has established a minimum UAL contribution of $2,236.75 per week or $25,972 for the year (Attachment #2), in addition to employer normal-cost contributions of 10.41% for the Classic plan and 8.05% for the PEPRA plan. The City nay either make the UAL payment monthly or prepay the UAL portion annually. The City nas historically made the decision to pay annually.

ANALYSIS
Existing CaPERS Liability
The City's UAL has fluctuated materially over time. The actuarial valuation shows a UAL of $83,156 in 2016, increasing to $243,665 in 2022, reaching $286,567 in 2023, and then declining to $217,338 as of June 30, 2025. The funded ratio similarly improved from

83.3% in 2023 to 89.2% in 2025 (p. 18).

The reduction in the UAL in the most recent valuation was influenced in part by favorable investment experience allocated through the Miscellaneous Risk Pool. CaPERS reports an $85,737 investment gain allocated to the City's plan, partially offset by $19,605 of non- investment losses and a $4,507 increase associated with actuarial assumption changes (p. 10).

Cost of Continuing the Existing Amortization Schedule
Under the current CaPERS amortization schedule, the City's UAL is projected to require annual payments of approximately $28,349 in FY 2027-28, with payments continuing for approximately 9.2 years (p. 12). The FY 2027-28 payment includes approximately $12,319 in interest, leaving only $16,030 to reduce the principal balance.

CaPERS estimates that accelerating repayment could reduce long-term costs. A five- year amortization would require annual payments of approximately $45,793 but is estimated to save approximately $45,458 in total payments, including about $45,000 in interest savings.

Benefit of Paying the UAL in Full
CalPERS expressly permits an agency to make an Additional Discretionary Payment (ADP) toward its UAL and notes that such payments may result in significant long-term savings. CaPERS further states that an ADP can be made at any time and that a payment made in a given year does not obligate the agency to make additional discretionary payments in future years.

Paying the City's remaining UAL in full would eliminate the outstanding amortized liability rather than continuing to incur interest and making annual payments over a number of years. It would also reduce the City's exposure to future changes in required UAL CaPERS UAL

Page 3 of 3 ends

contributions resulting from investment performance, actuarial assumption changes, or other experience.

The June 30, 2025 valuation demonstrates the financial uncertainty associated with retaining the liability. Under CalPERS' sensitivity analysis, a 1% lower assumed discount rate of 5.8% would increase the UAL to approximately $573,745, while a 1% higher rate of 7.8% would produce a surplus of approximately $68,515 (p.21).

CaPERS also projects that unfavorable investment returns could increase future UAL payments. For example, a -5.9% investment return in FY 2025-26 would result in a projected FY 2028-29 UAL contribution of approximately $36,000, while an - 18.6% return could increase that projected contribution to approximately $42,000 (p. 20).

Accordingly, retiring the liability now would provide the City with greater certainty regarding future pension costs and remove the City's remaining UAL from the existing amortization schedule.

FINANCIAL IMPACT
The recommended action would require a one-time expenditure of up to $217,338, based on the UAL reported by CaPERS as of June 30, 2025. The exact amount still needs to be confirmed with CaPERS because the actuarial liability is subject to roll-forward calculations, scheduled payments, interest, and any subsequent adjustment.

Nonetheless, it is currently anticipated that it will not exceed $217,338.

The expenditure would require the City to use the available funds through the City's general fund balance, which is anticipated to be $5,372,889 by the end of Fiscal Year 2026/27 (Attachment #3). Although the payment represents a significant one-time cash outlay, it would eliminate the City's remaining UAL and avoid future UAL payments and associated interest costs under the existing amortization schedule.

The payment is an acceleration of an existing pension obligation rather than a new pension expense. The principle financial tradeoff is the immediate expenditure of approximately $217,338 in City funds in exchange for eliminating a long-term liability and reducing future pension-related cash requirements.

RECOMMENDATION
It is recommended that the City Council authorize an additional discretionary payment to CaPERS in the amount necessary to pay off the City's remaining UAL, currently valued up to $217,338.

ATTACHMENT #1
CalPERS
California Public Employees' Retirement System
Actuarial Office
400 Q Street, Sacramento, CA 95811 | Phone: (916) 795-3000 | Fax: (916) 795-2744 888 CaPERS (or 888-225-7377) | TTY: (877) 249-7442 | www.calpers.ca.gov July 2026
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool (CaPERS ID: 5993006737) Annual Valuation Report as of June 30, 2025
Dear Employer,
Attached to this letter is Section 1 of the June 30, 2025, actuarial valuation report for the plan noted above. Provided in this report is the determination of the minimum required employer contributions for fiscal year (FY) 2027-28. In addition, the report contains important information regarding the current financial status of the plan as well as projections and risk measures to aid in planning for the future.

Because this plan is in a risk pool, the following valuation report has been separated into two sections:
• Section 1 contains specific information for the following rate plans) including the development of the current and projected employer contributions.
• 3057, Miscellaneous Plan
• 26452, PEPRA Miscellaneous Plan
• Section 2 contains the Miscellaneous Risk Pool information as of June 30, 2025.

Section 2 can be found on the CaPERS website in the Forms & Publications section. Search for "Risk Pool' and from the results list download the Miscellaneous Risk Pool Actuarial Valuation Report for June 30, 2025.

Required Contributions
The table below shows the minimum required employer contributions and member contribution rates for FY 2027-28 along with an estimate of the required employer Unfunded Accrued Liability (UAL) contribution for FY 2028-29. The required employer and member contributions in this report do not reflect any cost sharing arrangement between the agency and the employees.

Employer Member Employer Amortization of
Rate Unfunded Accrued
Fiscal Year Plan Normal Cost Contribution Fiscal Year
Rate Rate Liability
2027-28 3057 10.41% 7.00% 2027-28 $28,349
26452 8.05% 7.75%
Projected
(Estimated)
2028-29 $31,000
The actual investment return for FY 2025-26 was not known at the time this report was prepared. The projected UAL payment above assumes the investment return for that year would be 6.8%. To the extent the actual investment return for FY 2025-26 differs from 6.8%, the actual UAL contribution requirement for FY 2028-29 will differ from that shown above.

For additional information on future contribution requirements, please refer to Projected Employer Contributions. This section also contains projected required contributions through FY 2032-33.

Changes from Previous Year's Valuations
On November 19, 2025, the CaPERS Board of Administration (board) adopted new actuarial assumptions based on the recommendations in the November 2025 CaPERS Experience Study and Review of Actuarial Assumptions. This study reviewed the retirement rates, termination rates, mortality rates, rates of salary increase, the inflation assumption, and various other assumptions for public agencies. These new assumptions are incorporated in this actuarial valuation and impact the required contributions for FY 2027-28.

In addition, the board adopted changes to the CaPERS Total Fund Investment Policy, which provides the framework for the management of CaPERS assets. The board adopted a discount rate of 6.80%, which is unchanged from the prior year's valuation, and an increase in the price inflation assumption from 2.30% to 2.50% per year.

Besides the above-noted changes, there may also be changes specific to the plan such as contract amendments and funding changes such as additional discretionary payments and amortization schedule fresh starts.

CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737

Page 2 ends

A consolidated plan identifier has been added to the cover page of the report. As a result of the combination of some or all of the employer's rate plans in the Miscellaneous Risk Pool effective with the prior year's valuation, there is now one consolidated UAL value and actuarial valuation report for the group of component rate plans. This single identifier, set equal to the identifier of the component rate plan to which the UAL is attached, is intended to make it easier to identify a specific group of rate plans, the associated UAL, and the actuarial report.

PEPRA Member Contribution Rate
The employee contribution rate for PEPRA members can change based on the results of the actuarial valuation. See Member Contribution Rates for more information.

Report Navigation Features
The valuation report has a number of features to ease navigation and allow the reader to find specific information more quickly. The tables of contents are "clickable." This is true for the main table of contents that follows the title page and the intermediate tables of contents at the beginning of sections. The Adobe navigation pane on the left can also be used to skip to specific exhibits.

There are a number of links throughout the document in blue text. Links that are internal to the document are not underlined, while underlined links will take you to the CaPERS website. Examples are shown below.

Internal Bookmarks CaPERS Website Links
Required Employer Contributions Required Employer Contribution Search Tool Member Contribution Rates Public Agency PEPRA Member Contribution Rates Summary of Key Valuation Results Pension Outlook Overview Funded Status - Funding Policy Basis Interactive Summary of Public Agency Valuation Results Projected Employer Contributions Public Agency Actuarial Valuation Reports Questions
A CaPERS actuary is available to answer questions about this report. Other questions may be directed to the Customer Contact Center at 888 CaPERS (or 888-225-7377).

Sincerely,
Fintja Doros
Randall Dziubek, ASA, MAAA Fritzie Dorais, ASA, MAAA
Deputy Chief Actuary, Valuation Services, CaPERS Deputy Chief Actuary, Special Programs, CaPERS Scott Terando, ASA, EA, MAAA, FCA, CFA
Chief Actuary, CaPERS
California Public Employees' Retirement System
Actuarial Valuation for the
Rate Plans of the City of Bradbury in the
Miscellaneous Risk Pool
as of June 30, 2025
Consolidated Plan ID: 26452
(CaIPERS ID: 5993006737)
(Rate Plan IDs: 3057, 26452)
Required Contributions for Fiscal Year
July 1, 2027 — June 30, 2028
CalPERS
Table of Contents
Section 1 - Employer Specific Information
Actuarial Certification..

Highlights and Executive Summary...

Introduction
Purpose of Section 1
Summary of Key Valuation Results...

Changes Since the Prior Year's Valuation...

Subsequent Events
Liabilities and Contributions...

Determination of Required Contributions
Required Employer Contributions
Member Contribution Rates .....

Breakdown of Entry Age Accrued Liability....

Allocation of Plan's Share of Pool's Experience
Development of the Plan's Share of Pool's Assets . 10
Funded Status - Funding Policy Basis.. . 11
Additional Employer Contributions.. . 12
Projected Employer Contributions. 13
Schedule of Amortization Bases 14
Amortization Schedule and Alternatives . 16
Employer Contribution History.. .18
Funding History 18
Risk Analysis..... ...19
Future Investment Return Scenarios.

Discount Rate Sensitivity.

Mortality Rate Sensitivity
Maturity Measures.. ..22
Maturity Measures History .23
Funded Status - Termination Basis .24
Funded Status - Low-Default-Risk Basis.. .25
Supplementary Information... .26
Normal Cost by Benefit Group .27
Summary of Valuation Data. .28
Status of PEPRA Transition.. .29
Surcharge for Class 1 Benefits .29
Plan's Major Benefit Options .. .30
Section 2 - Miscellaneous Risk Pool Actuarial Information Section 2 may be found on the CaPERS website in the Forms & Publications section.

Section 1
California Public Employees' Retirement System
Employer Specific Information
for the
Rate Plans of the
City of Bradbury
in the Miscellaneous Risk Pool
(CalPERS ID: 5993006737)
(Rate Plan IDs: 3057, 26452)
CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Actuarial Certification
It is our opinion that the valuation has been performed in accordance with generally accepted actuarial principles as well as the applicable Standards of Practice promulgated by the Actuarial Standards Board. While this report, consisting of Section 1 and Section 2, is intended to be complete, our office is available to answer questions as needed. All of the undersigned are actuaries who satisfy the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States of the American Academy of Actuaries with regard to pensions. The actuaries responsible for this report and their respective responsibilities are as follows.

Actuarial Methods and Assumptions
It is our opinion that the assumptions and methods, as recommended by the Chief Actuary and adopted by the CaPERS Board of Administration, are internally consistent and reasonable for this plan.

Fintige Dora's
Randall Dziubek, ASA, MAAA Fritzie Dorais, ASA, MAAA
Deputy Chief Actuary, Valuation Services, CaPERS Deputy Chief Actuary, Special Programs, CaPERS Scott Terando, ASA, EA, MAAA, FCA, CFA
Chief Actuary, CaPERS
Actuarial Data and Rate Plan Results
The assumptions and methods in this report are the responsibility of the CaPERS Chief Actuary and Deputy Chief Actuaries named above. These were established pursuant to their responsibility for setting actuarial policy and are relied upon without independent assessment of the reasonableness of the assumptions and methods, as such an evaluation would have required substantial additional work beyond the scope of this assignment. To the best of my knowledge and having relied upon the information in Section 2 of this report, this report is complete and accurate and contains sufficient information to disclose, fully and fairly, the funded condition of the rate plans of the City of Bradbury in the Miscellaneous Risk Pool and satisfies the actuarial valuation requirements of Government Code section 7504. This valuation and related validation work was performed by the CaPERS Actuarial Office. The valuation was based on the member and financial data as of June 30, 2025, provided by the various CaPERS databases and the benefits under this plan with CaPERS as of the date this report was produced. Section 1 of this report is based on the member and financial data for City of Bradbury, while Section 2 is based on the corresponding information for all agencies participating in the Miscellaneous Risk Pool to which the plan belongs.

Fitje Doran
Fritzie Dorais, ASA, MAAA
Deputy Chief Actuary, Special Programs, CaPERS
Rate Plans belonging to the Miscellaneous Risk Pool Page 1 Highlights and Executive Summary
• Introduction 3
• Purpose of Section 1 3
• Summary of Key Valuation Results 4
• Changes Since the Prior Year's Valuation 5
• Subsequent Events 5
..1-
CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Introduction
This report presents the results of the June 30, 2025, actuarial valuation of the rate plans of the City of Bradbury in the Miscellaneous Risk Pool of the Califomia Public Employees' Retirement System (CalPERS). This actuarial valuation sets the minimum required contributions for fiscal year (FY) 2027-28.

Purpose of Section 1
This Section 1 report for rate plans of the City of Bradbury in the Miscellaneous Risk Pool of CaPERS was prepared by the Actuarial Office using data as of June 30, 2025. This report contains actuarial information for the following rate plans) : 3057, Miscellaneous Plan
26452, PEPRA Miscellaneous Plan
The purpose of the valuation is to:
: Set forth the assets and accrued liabilities of these rate plans as of June 30, 2025; Determine the minimum required employer contributions for these rate plans for FY July 1, 2027, through June 30, 2028;
• Determine the required member contribution rate for FY July 1, 2027, through June 30, 2028, for employees subject to the California Public Employees' Pension Refor Act of 2013 (PEPRA); and • Provide actuarial information as of June 30, 2025, to the CaPERS Board of Administration (board) and other interested parties.

The pension funding information presented in this report should not be used in financial reports subject to Governmental Accounting Standards Board (GASB) Statement No. 68 for a Cost Sharing Employer Defined Benefit Pension Plan. A separate accounting valuation report for such purposes is available on the CaPERS website (www.calpers.ca.gov).

The measurements shown in this actuarial valuation may not be applicable for other purposes. The agency should contact a CaPERS actuary before disseminating any portion of this report for any reason that is not explicitly described above.

Future actuarial measurements may differ significantly from the current measurements presented in this report due to such factors as the following: plan experience differing from that anticipated by the economic or demographic assumptions; changes in economic or demographic assumptions; changes in actuarial policies; changes in plan provisions or applicable law; and differences between the required contributions determined by the valuation and the actual contributions made by the agency.

Assessment and Disclosure of Risk
This report includes the following risk disclosures consistent with the guidance of the Actuarial Standards of Practice:
: A "Scenario Test," projecting future results under different investment income returns.

A "Sensitivity Analysis," showing the impact on current valuation results using alternative discount rates of 5.8% and

7.8%.
• A "Sensitivity Analysis," showing the impact on current valuation results assuming rates of mortality are 10% lower or 10% higher than our current post-retirement mortality assumptions adopted in 2025. • Plan maturity measures indicating how sensitive a plan may be to the risks noted above. •
Thow-dautask orgatom measure DROM) of benefit costs acrued as of the valuation date.

Rate Plans belonging to the Miscellaneous Risk Pool Page 3 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Summary of Key Valuation Results
Below is a brief summary of key valuation results along with page references where more detailed information can be found.

Required Employer Contributions - page 8
Fiscal Year Fiscal Year
2026-27 2027-28
Employer Normal Cost Rates
Rate Plan 3057 10.18% 10.41%
Rate Plan 26452 7.93% 8.05%
Unfunded Accrued Liability (UAL) Contribution Amount $26,841 $28,349 Paid either as
Option 1) 12 Monthly Payments of $2,236.75 $2,362.42
Option 2) Annual Prepayment in July $25,972 $27,432
Member Contribution Rates - page 9
Fiscal Year Fiscal Year
2026-27 2027-28
Rate Plan 3057 7.00% 7.00%
Rate Plan 26452 7.75% 7.75%
Projected Employer Contributions — page 13
Normal Cost
(% of payroll)
Rate Plan Rate Plan UAL Payment
2028-29 $31,000
2029-30 $28,000
2030-31 10.4% 8.1% $25,000
2031-32 10.4% 8.1% $23,000
2032-33 10.4% 8.1% $22,000
Funded Status — Funding Policy Basis - page 11
June 30, 2024 June 30, 2025
Entry Age Accrued Liability (AL) $1,880,700 $2,013,952
Fair Value of Assets (Assets) 1,602,786 1,796,614
Unfunded Accrued Liability (UAL) [AL - Assets] $277,914 $217,338 Funded Ratio [Assets = AL] 85.2% 89.2%
Summary of Valuation Data — page 28
June 30, 2024 June 30, 2025
Active Member Count 3 3
Annual Covered Payroll $328,748 $333,294
Transferred Member Count 4 5
Separated Member Count 4 4
Retired Members and Beneficiaries Count 2 2
Rate Plans belonging to the Miscellaneous Risk Pool Page 4 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Changes Since the Prior Year's Valuation
Investment Policy and Discount Rate
On November 19, 2025, the board adopted changes to the CaPERS Total Fund Investment Policy, which provides the framework for the management of CaPERS assets. Consistent with that policy, the board also adopted a discount rate of 6.80% for use in this valuation, which is unchanged from the prior year's valuation.

Actuarial Methods and Other Assumptions
On November 19, 2025, the board adopted new actuarial assumptions based on the recommendations in the November 2025 CaPERS Experience Study and Review of Actuarial Assumptions. This study assessed various assumptions including retirement rates, termination rates, mortality rates, rates of salary increase, and inflation. New assumptions stemming from the study are incorporated in this actuarial valuation and affect required contributions for fiscal year 2027-28. Among the changes were an increase in the price inflation assumption from 2.30% to 2.50% per year and an increase in the wage inflation assumption from 2.80% to 3.00% per year.

Plan Assets
Plan assets are measured at fair value. In the prior year's actuarial valuation report the term Market Value of Assets was used to describe the asset value used for funding purposes. The Actuarial Office has used this term interchangeably with Fair Value of Assets. Effective with the June 30, 2025, valuation, CaPERS will exclusively use the term Fair Value of Assets in actuarial reports. This is a change in terminology and does not represent any change in methodology.

Benefits
The standard actuarial practice at CaPERS is to recognize mandated legislative benefit changes in the first annual valuation following the effective date of the legislation. For pooled rate plans, voluntary benefit changes by plan amendment are generally included in the first valuation with a valuation date on or after the effective date of the amendment.

Please refer to the Plan's Major Benefit Options in this report and Appendix B of the Section 2 Report for a summary of the plan provisions used in this valuation.

Plan Identification
A consolidated plan identifier has been added to the cover page of the report. As a result of the combination of some or all of the employer's rate plans in the Miscellaneous Risk Pool effective with the prior year's valuation, there is now one consolidated idener, sec equal tail deAler of e coaponrit ale plan to porte A is at red is intended or are easier tog identify a specific group of rate plans, the associated UAL, and the actuarial report.

Amendments to Regulations Regarding Participation in Risk Pools On September 17, 2025, the board approved amendments to pooling regulations, which were endorsed by the Office of Administrative Law on May 12, 2026. Beginning with the June 30, 2026, actuarial valuation, it will be possible for pooled plans to be removed from the risk pool and become non-pooled plans. The general rule is that if an employer sponsors a pooled plan with at least 150 but less than 200 active members as of the valuation date, the employer may elect to remove that plan from the risk pool. If the plan has at least 200 active members, the plan will be automatically removed. More information can be found in Regulatory Actions on the CaPERS website under the heading Participation in Risk Pools.

Subsequent Events
This actuarial valuation report reflects fund investment return through June 30, 2025, as well as statutory changes, regulatory changes and board actions through January 2026.

The 2025 annual benefit limit under Internal Revenue Code (IRC) section 415(b) and annual compensation limits under IRC section 401(a)(17) and Government Code section 7522.10 were used for this valuation and are assumed to increase 2.5% per year based on the price inflation assumption. The actual 2026 limits, determined in October 2025, are not reflected To the best of our knowledge, there have been no subsequent events that could materially affect current or future certifications rendered in this report.

Rate Plans belonging to the Miscellaneous Risk Pool Page 5 Liabilities and Contributions
• Determination of Required Contributions 7
• Required Employer Contributions 8
• Member Contribution Rates 9
• Breakdown of Entry Age Accrued Liability 10
• Allocation of Plan's Share of Pool's Experience 10
• Development of the Plan's Share of Pool's Assets 10
• Funded Status - Funding Policy Basis 11
• Additional Employer Contributions 12
• Projected Employer Contributions 13
• Schedule of Amortization Bases 14
• Amortization Schedule and Alternatives 16
• Employer Contribution History 18
• Funding History 18
CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Determination of Required Contributions
sets required contributions for the fiscal year that begins two years after the valuation date.

Contribution Components
Two components comprise required contributions:

Normal Cost - expressed as a percentage of pensionable payroll : Unfunded Accrued Liability (UAL) Contribution — expressed as a dollar amount for Classic members is set by statute based on benefit formula whereas for PEPRA members it is based on 50% of the total When plan experience differs from the actuarial assumptions, UAL emerges. The new UAL may be positive or negative. If the total UAL is positive (i.e., accrued liability exceeds assets), the employer is required to make contributions to pay off the UAL over time. This is called the UAL Contribution component. There is an option to prepay this amount during July of each fiscal year, otherwise it is paid monthly.

In measurina the UAL each vear, plan experience is split by source. Common sources of UAL include investment experience Schedule of Amortization Bases section of this report for an inventory of existing bases and Appendix A in Section 2 for more information on the amortization policy.

Rate Plans belonging to the Miscellaneous Risk Pool Page 7 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Required Employer Contributions
The required employer contributions in this report do not reflect any cost sharing arrangement between the agency and the employees. For employee contribution rates, see Member Contribution Rates.

Fiscal Year
Required Employer Contributions 2027-28
Employer Normal Cost Rate
Classic Rate Plan 3057 10.41%
PEPRA Rate Plan 26452 8.05%
Unfunded Accrued Liability (UAL) Contribution Amount $28,349 Paid either as
1) Monthly Payment $2,362.42
Or
2) Annual Prepayment Option# $27,432
The total minimum required employer contribution is the sum of the Plan's Employer Normal Cost Rate (expressed as a percentage of payroll and paid as payroll is reported) and the Unfunded Accrued Liability (UAL) Contribution Amount (billed monthly (1) or prepaid annually (2) in dollars).
*The required UAL contribution does not take into account any additional discretionary payment made after April 30, 2026. *Only the UAL portion of the employer contribution can be prepaid (which must be received in full no later than July 31).

Development of Normal Cost as a Percentage of Payroll
Fiscal Year Fiscal Year
2026-27 2027-28
Classic Rate Plan 3057
Base Total Normal Cost for Formula 17.12% 17.35%
Surcharge for Class 1 Benefits' 0.00% 0.00%
Plan's Total Normal Cost 17.12% 17.35%
Offset Due to Employee Contributions? (6.94%) (6.94%)
Employer Normal Cost for Rate Plan 3057 10.18% 10.41%
PEPRA Rate Plan 26452
Base Total Normal Cost for Formula 15.68% 15.80%
Surcharge for Class 1 Benefits! 0.00% 0.00%
Plan's Total Normal Cost 15.68% 15.80%
Offset Due to Employee Contributions? (7.75%) (7.75%)
Employer Normal Cost for Rate Plan 26452 7.93% 8.05%
' See Surcharge for Class 1 Benefits in the supplementary information section of this report. 2 This is the expected employee contributions, taking into account individual benefit formula and any offset from the use of a modified formula, divided by projected annual payroll. For member contribution rates above the breakpoint for each benefi formula, see Member Contribution Rates.

Rate Plans belonging to the Miscellaneous Risk Pool Page 8 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Member Contribution Rates
The required member contributions in this report do not reflect any cost sharing arrangement between the agency and the employees.

Classic Members
Each member contributes toward their retirement based upon the retirement formula. The standard Classic member contribution rate above the breakpoint, if any, is as described below.

Percent Contributed
Benefit Formula above the Breakpoint
Miscellaneous, 1.5% at age 65 2%
Miscellaneous, 2% at age 60 7%
Miscellaneous, 2% at age 55 7%
Miscellaneous, 2.5% at age 55 8%
Miscellaneous, 2.7% at age 55 8%
Miscellaneous, 3% at age 60 8%
Auxiliary organizations of the CSU system may elect reduced contribution rates for Miscellaneous members, in which case the contribution rate above the breakpoint is 6% if members are not covered by Social Security and 5% if they are.

PEPRA Members
The California Public Employees' Pension Reform Act of 2013 (PEPRA) established new benefit formulas, final compensation period, and contribution requirements for "new" employees (generally those first hired into a CaPERS-covered position on or Contribution rate of a 850% a le noma of rain The sonal colai or the plan dependent on are benefit vets, actuarial assumptions and demographics of the risk pool, particularly members' entry age. Should the total normal cost rate of the plan change by more than 1% from the base total normal cost rate established for the plan, the new member rate shall be 50% of the new normal cost rate rounded to the nearest quarter percent.

The table below shows the determination of the PEPRA member contribution rates effective July 1, 2027, based on 50% of the total normal cost rate as of the June 30, 2025, valuation.

Basis for Current Rate Rates Effective July 1, 2027
Total Total Change
Rate Plan Normal Member Normal in Normal Adj. Member
Identifier Benefit Group Name Cost Rate Cost Cost Needed Rate 26452 PEPRA Miscellaneous Plan 15.43% 7.75% 15.80% 0.37% No 7.75% Rate Plans belonging to the Miscellaneous Risk Pool Page 9 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Breakdown of Entry Age Accrued Liability
Active Members $488,781
Transferred Members 459,205
Separated Members 212,898
Members and Beneficiaries Receiving Payments 853,068
Total $2,013,952
Allocation of Plan's Share of Pool's Experience
assumption/method changes is allocated to the plan as follows:

1. Plan's Accrued Liability $2,013,952

2. Projected UAL Balance at 6/30/2025 278,963

3. Other UAL Adjustments (Golden Handshake, Prior Service Purchase, etc.)

4. Adjusted UAL Balance at 6/30/2025 for Asset Share 278,963

5. Pool's Accrued Liability' 26,128,329,326

6. Sum of Pool's Individual Plan UAL Balances at 6/30/20251 5,408,106,113

7. Pool's 2024-25 Investment (Gain)/Loss' (1,023,922,845)

8. Pool's 2024-25 Non-Investment (Gain)/Loss' 254,352,784

9. Plan's Share of Pool's Investment (Gain)/Loss: [(1) - (4)] + [5) - (6)] × (7) (85,737)

10. Plan's Share of Pool's Non-Investment (Gain)/Loss: (1) + (5) × (8) 19,605

11. Plan's New (Gain)/Loss as of 6/30/2025: (9) + (10) (66,132)

12. Increase in Pool's Accrued Liability due to Change in Assumptions' 58,472,717

13. lan's Share of Pool's Change in Assumptions: (1) + (5) x (12 4,507

14. ncrease in Pool's Accrued Liability due to Funding Risk Mitigatior

15. Plan's Share of Pool's Change due to Funding Risk Mitigation: (1) + (5) × (14)

16. Offset due to Funding Risk Mitigation

17. Plan's Investment (Gain)/Loss: (9) - (16) (85,737)
' Does not include plans that transferred to the pool on the valuation date.

Development of the Plan's Share of Pool's Assets

18. Plan's UAL: (2) + (3) + (11) + (13) + (15) $217,338

19. Plan's Share of Pool's Fair Value of Assets: (1) - (18) $1,796,614 For a reconciliation of the pool's Fair Value of Assets, information on the fund's asset allocation and a history of CaPERS investment returns, see Section 2, which can be found on the CaPERS website (www.calpers.ca.gov).

Rate Plans belonging to the Miscellaneous Risk Pool Page 10 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Funded Status - Funding Policy Basis
The table below provides information on the current funded status of the plan under the funding policy. The funded status for this purpose is based on the fair value of assets relative to the funding target produced by the entry age actuarial cost method and actuarial assumptions adopted by the board. The actuarial cost method allocates the total expected cost of a member's projected benefit (Present Value of Benefits) to individual years of service (the Normal Cost). The value of the projected benefit that is not allocated to future service is referred to as the Accrued Liability and is the plan's funding target on the valuation date. The Unfunded Accrued Liability (UAL) equals the funding target minus the assets. The UAL is an absolute measure of funded status and can be viewed as employer debt. The Funded Ratio equals the assets divided by the funding target. The funded ratio is a relative measure of the funded status and allows for comparisons between plans of different sizes.

June 30, 2024 June 30, 2025

1. Present Value of Benefits $2,473,105 $2,623,083

2. Entry Age Accrued Liability 1,880,700 2,013,952

3. Fair Value of Assets 1,602,786 1,796,614

4. Unfunded Accrued Liability (UAL) [(2) - (3)] $277,914 $217,338

5. Funded Ratio [(3) + (2)] 85.2% 89.2%
A funded ratio of 100% (UAL of $O) implies that the funding of the plan is on target and that future contributions equal to the normal cost of the active plan members will be sufficient to fully fund all retirement benefits if future experience matches the actuarial assumptions. A funded ratio of less than 100% (positive UAL) implies that in addition to normal costs, payments toward the UAL will be required. Plans with a funded ratio greater than 100% have a negative UAL (or surplus) but are required under current law to continue contributing the normal cost in most cases, preserving the surplus for future contingencies.

Calculations for the funding target reflect the expected long-term investment return of 6.8%. If it were known on the valuation date that future investment returns will average something greater/less than the expected return, calculated normal costs and accrued liabilities provided in this report would be less/greater than the results shown. Therefore, for example, if actual average future returns are less than the expected return, calculated normal costs and UAL contributions will not be sufficient to fully fund all retirement benefits. Under this scenario, required future normal cost contributions will need to increase from those provided in this report, and the plan will develop unfunded liabilities that will also add to required future contributions. For illustrative purposes, funded statuses based on a 1% lower and higher average future investment return (discount rate) are as follows:
1% Lower Current 1% Higher
Average Return Assumption Average Return
Discount Rate 5.8% 6.8% 7.8%

1. Entry Age Accrued Liability $2,370,359 $2,013,952 $1,728,099

2. Fair Value of Assets 1,796,614 1,796,614 1,796,614

3. Unfunded Accrued Liability (UAL) [(1) - (2)] $573,745 $217,338 ($68,515)

4. Funded Ratio [(2) ÷ (1)] 75.8% 89.2% 104.0%
The Risk Analysis section of the report provides additional information regarding the sensitivity of valuation results to the expected investment return and other factors. Also provided in that section are measures of funded status that are appropriate for assessing the sufficiency of plan assets to cover estimated termination liabilities Rate Plans belonging to the Miscellaneous Risk Pool Page 11 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Additional Employer Contributions
The CaPERS amortization policy provides a systematic methodology for paying down a plan's unfunded accrued liability (UAL) over a reasonable period of years. The projected schedule of required payments for this plan under the amortization policy is provided in Amortization Schedule and Alternatives. Certain aspects of the policy such as 1) layered amortization bases (positive and negative) with different remaining payoff periods, and 2) the phase-in of required payments toward investment gains and losses, can result in volatility in year-to-year projected UAL payments. Provided below is information on how an Additional Discretionary Payment (ADP), together with your required UAL payment of $28,349 for FY 2027-28, may better accomplish your agency's specific objectives with regard to either smoothing out projected future payments or achieving a greater reduction in UAL than would otherwise occur when making only the minimum required payment. Such additional payments are allowed at any time and can also result in significant long-term savings.

Fiscal Year 2027-28 Employer Contribution Versus Agency Funding Objectives The interest-to-payment ratio for the FY 2027-28 minimum required UAL payment is 43%, which means the required payment of $28,349 includes $12,319 of interest cost and results in a $16,030 reduction in the UAL, as can be seen in Amortization Schedule and Alternatives (see columns labelled Current Amortization Schedule). If the interest-to-payment ratio is close to 100%, and the reduction in the UAL is small, it may indicate that required contributions will be increasing in the coming years, which would be shown in Projected Employer Contributions. An alternative metric that provides similar information about the FY 2027-28 required UAL payment is the number of years it would take that payment, if held constant, to pay off the existing UAL (note: actual required UAL payments will vary each year). An annual payment of $28,349 would pay off the current UAL in 9.2 years (ignoring any unexpected changes in UAL occurring after June 30, 2025). If the agency would like their FY 2027-28 payment toward the UAL to be consistent with a faster pace for reaching 100% funded, an ADP can be added to the required Provided below are select ADP options for consideration. Making such an ADP during FY 2027-28 does not require an ADP be made in any future year, nor does it change the remaining amortization period of any portion of unfunded liability. For information on permanent changes to amortization periods, see Amortization Schedule and Alternatives. Agencies considering making an ADP should contact CaPERS for additional information.

Fiscal Year 2027-28 Employer Contributions - Illustrative Scenarios If the Annual UAL The Current This Would
Require an ADP1 Plus the Estimated Estimated Total
Payment Each UAL Would be
Normal Cost of... Contribution
Year Were... Paid Off in... in FY 2027-28 of...
$28,349 9.2 years $0 $34,378 $62,727
45,793 5 years 17,444 34,378 80,171
1 The ADP amounts are assumed to be made in the middle of the fiscal year. A payment made earlier or later in the fiscal year would have to be less or more than the amount shown to have the same effect on the UAL amortization.

The calculations above are based on the projected UAL as of June 30, 2027, as determined in the June 30, 2025, actuarial valuation. New unfunded liabilities can emerge in future years due to assumption or method changes, changes in plan provisions, and actuarial experience different than assumed. Making an ADP illustrated above for the indicated number of year:
will not result in a plan that is exactly 100% funded in the indicated number of years. Valuation results will vary from one year to Additional Discretionary Payment History
The following table provides a recent history of actual ADPs made to the plan through April 30, 2026.

Fiscal ADP Fiscal ADP
Year Year
2019-20 $0 2023-24 $0
2020-21 2024-25
2021-22 0 2025-26
2022-23 0
Rate Plans belonging to the Miscellaneous Risk Pool Page 12 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Projected Employer Contributions
The table below shows the required and projected employer contributions (before cost sharing) for the next six fiscal years. The projection assumes that all actuarial assumptions will be realized and that no further changes to assumptions, contributions, benefits, or funding will occur during the projection period. In particular, the investment return beginning with FY 2025-26 is assumed to be 6.80% per year, net of investment and administrative expenses. Future contribution requirements may differ significantly from those shown below. The actual long-term cost of the plan will depend on the actual benefits and expenses paic and the actual investment experience of the fund.

The normal cost rates for each rate plan are assumed to remain constant. The employer normal cost rate for pooled plans is relatively constant from year to year when there are no assumption changes. Beginning with the June 30, 2026, actuarial valuation, it will be possible for pooled plans to be removed from the risk pool, in which case the employer normal cost would be based only on the members of that plan and will be different than the projections below. Plans with at least 200 active members on a valuation date will be automatically removed from the risk pool.

If the normal cost rates do remain constant, the employer contribution amounts will vary due to changes in payroll. The actuarial valuation does not include payroll beyond the valuation date. For the most realistic projections, the employer should apply projected payroll amounts to the rates below based on the most recent information available, such as current payroll as well as any plans to fill vacancies or add or remove positions.

Required Projected Future Employer Contributions
Contribution (Assumes 6.80% Return for Fiscal Year 2025-26 and Beyond) 2027-28 2028-29 2029-30 2030-31 2031-32 2032-33
Covered
Rate Plan
Payroll Normal Cost Rates (Percentage of Payroll)
Identifier
June 30, 2025
3057 $197,600 10.41% 10.4% 10.4% 10.4% 10.4% 10.4%
26452 135,694 8.05% 8.1% 8.1% 8.1% 8.1% 8.1%
UAL Payment $28,349 $31,000 $28,000 $25,000 $23,000 $22,000 Unlike the normal cost rates, the required UAL payments are expected to vary significantly from the projections above due to experience, particularly investment experience. For projected contributions under alternate investment return scenarios, please see the Future Investment Return Scenarios exhibit. Our online pension plan projection tool, Pension Outlook, is available in the Employers section of the CaPERS website. Pension Outlook can help plan and budget pension costs under various scenarios.

For ongoing plans, investment gains and losses are amortized using an initial 5-year ramp. For more information, please see Amortization of Unfunded Actuarial Accrued Liability in Appendix A of the Section 2 Report. This method phases in the impact of the change in UAL over a 5-year period in order to reduce employer cost volatility from year to year. As a result of this methodology, dramatic changes in the required employer contributions in any one year are less likely. However, required contributions can change gradually and significantly over the next five years. In years when there is a large investment loss, the relatively small amortization payments during the initial ramp period could result in contributions that are less than interest on the UAL (i.e. negative amortization) while the contribution impact of the increase in the UAL is phased in.

Rate Plans belonging to the Miscellaneous Risk Pool Page 13 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Schedule of Amortization Bases
Below is the schedule of the plan's amortization bases. Note that there is a two-year lag between the valuation date and the start of the contribution year. : The requited employer contibuton termined by the valuation are for the cat year be ming two years after the valuation date: FY 2027-28.

This two-year lag is necessary due to the amount of time needed to extract and test the membership and financial data, and the need to provide public agencies with their required employer contribution well in advance of the start of the fiscal year.

The Unfunded Accrued Liability (UAL) is used to determine the employer contribution and therefore must be rolled forward two years from the valuation date to the first day of the fiscal year for which the contribution is being determined. The UAL is rolled forward each year by subtracting the expected payment on the UAL for the fiscal paymand nude on or tore April 30, 202, yosay, an uhe expected payment or FY 2028-27 18 based on the aura valuation one year agional discretionary Minimum
Ramp Escala- Expected Expected Required
Date Level Ramp tion Amort. Balance Payment Balance Payment Balance Payment Reason for Base Est. 2027-28 Shape Rate Period 6/30/25 2025-26 6/30/26 2026-27 6/30/27 2027-28 Assumption Change 6/30/14 100% Up/Dn 2.80% 37,700 5,037 35,058 5,178 32,091 5,322 Investment (Gain)/Loss 6/30/14 100% Up/Dn 2.80% 19 (72,421) (5,442) (71,722) (5,594) (70,818) (5,751) Investment (Gain)/Loss 6/30/15 100% Up/Dn 2.80% 20 48,048 3,487 47,712 3,585 47,252 Non-Investment (Gain)/Loss 6/30/15. 100% Up/Dn 2.80% 20 (3,943) (286) (3,916) (294) (3,878) (302) Assumption Change 6/30/16 100% Up/Dn 2.80% 11 17,861 2,022 16,986 2,078 15,994 2,137 Investment (Gain)/Loss 6/30/16 100% Up/Dn 2.80% 78,766 5,536 78.401 5.691 77,851 5,850 Non-Investment (Gain)/Loss 6/30/16* 100% Up/Dn 2.80% 21 (7,894) (555) (7,857) (570) (7,802) (586) Assumption Change 6/30/17 100% Up/Dn 2.80% 12 21,971 2,320 21.067 2,385 20,035 2,452 Investment (Gain)/Loss 6/30/17 100% Up/Dn 2.80% (42,427) (2,893) (42,322) (2,974) (42,126) (3.058) Non-Investment (Gain)/Loss 6/30/17 100% Up/Dn 2.80% (1,791) (122) (1,787) (126) (1,778) Assumption Change 6/30/18 100% Up/Dn 2.80% 13 35,724 3,543 34,492 3,642 33,074 Investment (Gain)/Loss 6/30/18 100% Up/Dn 2.80% 23 (12,674) (840) (12,668) (864) (12,637) Method Change 6/30/18 100% Up/Dn 2.80% 9,583 950 9,253 977 8,873 Non-Investment (Gain)/Loss 6/30/18 100% Up/Dn 2.80% 23 5,249 5,246 358 5,233 Investment (Gain)/Loss. 6/30/19 100% Up Only 0.00% 14 5,979 5,761 604 5,529 Non-Investment (Gain)/Loss 6/30/19 No Ramp 0.00% 4,423 447 4,262 4,090 Investment (Gain)/Loss 6/30/20 100% Up Only 0.00% 15 30,344 2,418 29,909 3,023 28,819 Non-Investment (Gain)/Loss 6/30/20 No Ramp 0.00% 15 3,955 387 3,824 387 3,684 Net Investment (Gain) 6/30/21 100% Up Only 0.00% 16 (166,407) (10,005) (167,383) (13,341) (164,978) (16,676) Non-Investment (Gain)/Loss 6/30/21 No Ramp 0.00% (5,907) (560) (5,730) (560) (5,541) (560) Rate Plans belonging to the Miscellaneous Risk Pool Page 14 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Schedule of Amortization Bases (continued)
Ramp Escala- Expected Expected
Date Level Ramp tion Amort. Balance Payment Balance Payment Balance Payment Reason for Base Est. 2027-28 Shape Rate Period 6/30/25 2025-26 6/30/26 2026-27 6/30/27 2027-28 Assumption Change 6/30/21 No Ramp 0.00% 16 7.073 671 6,861 671 6,634 671 Investment (Gain)/Loss 6/30/22 80% Up Only 0.00% 17 235,689 9,689 241,703 14,533 243,120 19,377 Non-Investment (Gain)/Loss 6/30/22 No Ramp 0.00% 17 23,456 2,163 22,816 2,163 22,132 2,163 Fresh Start 6/30/23 No Ramp 0.00% 3,800 892 3,137 892 2,428 892 Investment (Gain)/Loss 6/30/23 60% Up Only 0.00% 18 10,506 226 10,987 452 11,267 677 Non-Investment (Gain)/Loss 6/30/23 No Ramp 0.00% 18 29,902 2,689 29,156 2,689 28,360 2,689 Investment (Gain)/Loss 6/30/24 40% Up Only 0.00% 19 (42,418) (45,302) (974) (47,376) (1,947) Non-Investment (Gain)/Loss 6/30/24 No Ramp 0.00% 19 24,816 26,503 2,383 25,843 2,383 Assumption Change 6/30/25 No Ramp 0.00% 20 4,507 4,813 5,140 462 Investment (Gain)/Loss 6/30/25 20% Up Only 0.00% 20 (85,737) (91,567) (97.794) (2,102) Non-Investment (Gain)/Loss 6/30/25 No Ramp 0.00% 20 19.605 20,938 22,362 2,011 Total 217,338 22,726 208,631 26,841 195,083 28,349
The (gain)/loss bases are the plan's allocated share of the risk pool's (gain)/loss for the fiscal year as disclosed in Allocation of Plan's Share of Pool's Experience earlier in this report. These (gain)/loss bases will be amortized in accordance with the CaPERS amortization policy in effect at the time the base was established.

Rate Plans belonging to the Miscellaneous Risk Pool Page 15 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Amortization Schedule and Alternatives
The amortization schedule on the previous pages) shows the minimum contributions required according to the CaPERS amortization policy. Each year, many agencies express a desire for a more stable pattern of payments or indicate interest in paying off the unfunded accrued liabilities more quickly than required. As such, we have provided alternative amortization schedules to help analyze the current amortization schedule and illustrate the potential savings of accelerating unfunded liability payments.

Shown on the following page are future year amortization payments based on 1) the current amortization schedule reflecting the individual bases and remaining periods shown on the previous page, and 2) alternative "fresh start" amortization schedules using two sample periods that would both result in interest savings relative to the current amortization schedule. To initiate a fresh start, please contact a CaPERS actuary.

The current amortization schedule typically contains both positive and negative bases. Positive bases result from plan changes, assumption changes, method changes or plan experience that increase unfunded liability. Negative bases result from plan changes, assumption changes, method changes, or plan experience that decrease unfunded liability. The combination of positive and negative bases within an amortization schedule can result in unusual or problematic circumstances in future years, When a negative payment would be required on a positive unfunded actuarial liability; or When the payment would completely amortize the total unfunded liability in a very short time period, and results in a large change in the employer contribution requirement.

In any year when one of the above scenarios occurs, the actuary will consider corrective action such as replacing the existing unfunded liability bases with a single "fresh start" base and amortizing it over an appropriate period.

The current amortization schedule on the following page may appear to show that, based on the current amortization bases, one of the above scenarios will occur at some point in the future. It is impossible to know today whether such a scenario will in fact arise since there will be additional bases added to the amortization schedule in each future year. Should such a scenario arise in any future year, the actuary will take appropriate action based on guidelines in the CaPERS Actuarial Amortization Policy.

Rate Plans belonging to the Miscellaneous Risk Pool Page 16 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Amortization Schedule and Alternatives (continued)
Alternative Schedules
Current Amortization 10 Year Amortization 5 Year Amortization Schedule
Date Balance Payment Balance Payment Balance Payment
6/30/2027 195,083 28,349 195,083 26,629 195,083 45,793
6/30/2028 179,053 30,733 180,829 26,629 161,024 45,793
6/30/2029 159,470 28,278 165,606 26,629 124,649 45,793
6/30/2030 141,092 24,721 149,348 26,629 85,801 45,793
6/30/2031 125,139 23,041 131,984 26,628 44,311 45,793
6/30/2032 109,840 22,251 113,440 26,628
6/30/2033 94,313 21,408 93,635 26,628
6/30/2034 78,603 19,987 72,484 26,629
6/30/2035 63,291 17,858 49,893 26,628
6/30/2036 49,142 14,389 25,767 26,629
6/30/2037 37,614 12,118
6/30/2038 27,649 9,718
6/30/2039 19,489 7,771
6/30/2040 12,785 6,418
6/30/2041 7,021 5,335
6/30/2042 1,982 2,048
6/30/2043
6/30/2044
6/30/2045
6/30/2046
6/30/2047
6/30/2048
6/30/2049
Total 274,423 266,286 228,965
Interest Paid 79,340 71,203 33,882
Estimated Savings 8,137 45,458
Rate Plans belonging to the Miscellaneous Risk Pool Page 17 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Employer Contribution History
The table below provides a recent history of the employer contribution requirements for the plan, as determined by the annual actuarial valuation. Changes due to prepayments or plan amendments after the valuation report was finalized are not reflected.

Employer Normal Cost Rate
Valuation Contribution Rate Plan Rate Plan Unfunded Liability Date Year 3057 26452 Payment
06/30/2016 2018-19 7.634% N/A $2,068
06/30/2017 2019-20 8.081% 6.985% 4,219
06/30/2018 2020-21 8.794% 7.732% 6,292
06/30/2019 2021-22 8.65% 7.59% 9,598
06/30/2020 2022-23 8.63% 7.47% 12,920
06/30/2021 2023-24 10.10% 7.68% 11,283
06/30/2022 2024-25 10.15% 7.87% 17,272
06/30/2023 2025-26 10.19% 7.96% 22,726
06/30/2024 2026-27 10.18% 7.93% 26,841
06/30/2025 2027-28 10.41% 8.05% 28,349
Funding History
The table below shows the recent history of the actuarial accrued liability, share of the pool's fair value of assets, unfunded accrued liability, funded ratio and annual covered payroll.

Share of Pool's Unfunded Annual
Valuation Accrued Fair Value of Accrued Liability Funded Covered Date Liability Assets (UAL) Ratio Payroll
06/30/2016 $929,115 $845,959 $83,156 91.0% $203,105
06/30/2017 1,019,176 945,967 73,209 92.8% 185,286
06/30/2018 1,057,241 947,038 110,203 89.6% 200,481
06/30/2019 1,141,202 1,013,014 128,188 88.8% 213,242
08/30/2020 1,223,922 1,060,648 163,274 86.7% 220,732
06/30/2021 1,358, 192 1,330,989 27,203 98.0% 236,424
06/30/2022 1,516,126 1,272,461 243,665 83.9% 253,205
06/30/2023 1,720,017 1,433,450 286,567 83.3% 299,362
06/30/2024 1,880,700 1,602,786 277,914 85.2% 328,748
06/30/2025 2,013,952 1,796,614 217,338 89.2% 333,294
Rate Plans belonging to the Miscellaneous Risk Pool Page 18 Risk Analysis
• Future Investment Return Scenarios 20
• Discount Rate Sensitivity 21
• Mortality Rate Sensitivity 22
• Maturity Measures 22
• Maturity Measures History 23
24 .. - 1 :
• Funded Status - Termination Basis
• Funded Status - Low-Default-Risk Basis 25
CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Future Investment Return Scenarios
Analysis using the investment return scenarios from the Asset Liability Management process completed in 2025 was performed to determine the effects of various future investment returns on required employer UAL contributions. The CaPERS Funding Risk Mitigation Policy stipulates that when the investment return exceeds the discount rate by at least 2% the board will consider adjustments to the discount rate. The projections below use a discount rate of 6.8% for all scenarios even though an annual return of 11.6% is high enough to trigger a board discussion on the discount rate. The projections also assume that all other actuarial assumptions will be realized and that no further changes in assumptions, contributions, benefits, or funding will occur.

The employer normal cost rates are not affected by Investment returns, and since no future assumption changes are being reflected, the projected employer normal cost rates for every future investment return scenario are the same as those shown earlier in this report. See Projected Employer Contributions for more information on projecting the employer normal cost.

The first table shows projected UAL contribution requirements if the fund were to earn either 1.9% or 11.6% annually. These alternate investment returns were chosen because 90% of long-term average returns are expected to fall between them over the 20-year period ending June 30, 2045.

Assumed Annual Return Projected Employer UAL Contributions FY 2025-26
through FY 2044-45 2029-30 2030-31 2031-32 2032-33
2028-29

1.9% (5th percentile) $33,000 $35,000 $38,000 $45,000 $55,000

11.6% (95th percentile) $29,000 $0 $0 $0 $0
Required UAL contributions outside of this range are also possible. In particular, whereas it is unlikely that investment returns will average less than 1.9% or greater than 11.6% over a 20-year period, the likelihood of a single investment return less than

1.9% or greater than 11.6% in any given year is much greater. The following analysis illustrates the effect of an extreme, single year investment return.

The portfolio has an expected volatility (or standard deviation) of 12.7% per year. Accordingly, in any given year there is a 16% probability that the annual return will be -5.9% or less and a 2.5% probability that the annual return will be - 18.6% or less. These returns represent one and two standard deviations below the expected return of 6.8%.

The following table shows the effect of one and two standard deviation investment losses in FY 2025-26 on the FY 2028-29 contribution requirements. Note that a single-year investment gain or loss decreases or increases the required UAL contribution amount incrementally for each of the next five years, not just one, due to the 5-year ramp in the amortization policy. However, the contribution requirements beyond the first year are also impacted by investment returns beyond the first year. Historically, significant downturns in the market are often followed by higher than average returns. Such investment gains would offset the impact of these single year negative returns in years beyond FY 2028-29.

Required Employer Projected Employer
Assumed Annual Return for UAL Contributions UAL Contributions Fiscal Year 2025-26
2027-28 2028-29
(18.6%) (2 standard deviation loss) $28,349 $42,000
(5.9%) (1 standard deviation loss) $28,349 $36,000
• Without investment gains (returns higher than 6.8%) in FY 2026-27 or later, projected contributions rates would continue to rise over the next four years due to the continued phase-in of the impact of the illustrated investment loss in FY 2025-26.

The Pension Outlook Tool can be used to model projected contributions for these scenarios beyond FY 2028-29 as well as to model other investment return scenarios.

Rate Plans belonging to the Miscellaneous Risk Pool Page 20 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Discount Rate Sensitivity
The discount rate assumption is calculated as the sum of the assumed real rate of return and the assumed annual price inflation, currently 4.3% and 2.5%, respectively. Changing either the price inflation assumption or the real rate of return impact of a 1.0% increase or decrease to the 6.8% assumption.

Sensitivity to the Discount Rate Due to Varying the Real Rate of Return Assumption 1% Lower Current 1% Higher
As of June 30, 2025 Real Return Rate Assumptions Real Return Rate Discount Rate 5.8% 6.8% 7.8%
Price Inflation 2.5% 2.5% 2.5%
Real Rate of Return 3.3% 4.3% 5.3%
a) Total Normal Cost
Rate Plan 3057 21.64% 17.35% 14.05%
Rate Plan 26452 19.87% 15.80% 12.71%
b) Accrued Liability $2,370,359 $2,013,952 $1,728,099
c) Fair Value of Assets $1,796,614 $1,796,614 $1,796,614 d) Unfunded Liability (Surplus) [(b) - (c)] $573,745 $217,338 ($68,515) e) Funded Ratio 75.8% 89.2% 104.0%
Sensitivity to the Discount Rate Due to Varying the Price Inflation Assumption 1% Lower Current 1% Higher
As of June 30, 2025 Price Inflation Assumptions Price Inflation Discount Rate 5.8% 6.8% 7.8%
Price Inflation 1.5% 2.5% 3.5%
Real Rate of Return 4.3% 4.3% 4.3%
a) Total Normal Cost
Rate Plan 3057 18.59% 17.35% 15.89%
Rate Plan 26452 16.95% 15.80% 14.46%
b) Accrued Liability $2,146,883 $2,013,952 $1,855,159
c) Fair Value of Assets $1,796,614 $1,796,614 $1,796,614 d) Unfunded Liability (Surplus) I(b) - (c)] $350,269 $217,338 $58,545 _e) Funded Ratio 83.7% 89.2% 96.8%
Rate Plans belonging to the Miscellaneous Risk Pool Page 21 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Mortality Rate Sensitivity
10% Lower Current 10% Higher
As of June 30, 2025 Mortality Rates Assumptions Mortality Rates a) Total Normal Cost
Rate Plan 3057 17.66% 17.35% 17.06%
Rate Plan 26452 16.08% 15.80% 15.54%
b) Accrued Liability $2,051,964 $2,013,952 $1,978,838
c) Fair Value of Assets $1,796,614 $1,796,614 $1,796,614 d) Unfunded Liability/(Surplus) [(b) - (c)] $255,350 $217,338 $182,224 e) Funded Ratio 87.6% 89.2% 90.8%
Maturity Measures -1-1.

As pension plans mature they become more sensitive to risks. Understanding plan maturity and how it affects the ability of a pension plan sponsor to tolerate risk is important in understanding how the pension plan is impacted by investment return volatility, other economic variables and changes in longevity or other demographic assumptions.

Since it is the employer that bears the risk, it is appropriate to perform this analysis on a pension plan level considering all rate plans. The following measures include only the rate plans covered in this report. One way to look at the maturity level of CalPERS and its plans is to look at the ratio of a plan's retiree liability to its total liability. A pension plan in its infancy will have a very low ratio of retiree liability to total liability. As the plan matures, the ratio increases. A mature plan will often have a ratio above 60%-65%.

Ratio of Retiree Accrued Liability to
Total Accrued Liability June 30, 2024 June 30, 2025

1. Retiree Accrued Liability $852,574 $853,068

2. Total Accrued Liability $1,880,700 $2,013,952

3. Ratio of Retiree AL to Total AL [(1) = (2)] 45% 42%
Another measure of the maturity level of CaPERS and its plans is the ratio of actives to retirees, also called the support ratio. A pension plan in its infancy will have a very high ratio of active to retired members. As the plan matures and members retire, the ratio declines. A mature plan will often have a ratio near or below one.

To calculate the support ratio for the rate plan, retirees and beneficiaries receiving a continuance are each counted as one, even though they may have only worked a portion of their careers as an active member of this rate plan. For this reason, the support ratio, while intuitive, may be less informative than the ratio of retiree liability to total accrued liability above.

Support Ratio June 30, 2024 June 30, 2025

1. Number of Actives 3 3

2. Number of Retirees 2 2

3. Support Ratio [(1) = (2)] 1.50 1.50
Rate Plans belonging to the Miscellaneous Risk Pool Page 22 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Maturity Measures (continued)
The actuarial calculations supplied in this communication are based on various assumptions about long-term demographic and economic behavior. Unless these assumptions (e.g., terminations, deaths, disabilities, retirements, salary increases, investment return) are exactly realized each year, there will be differences on a year-to-year basis. The year-to-year differences between actual experience and the assumptions are called actuarial gains and losses and serve to lower or raise required employer contributions from one year to the next. Therefore, employer contributions will inevitably fluctuate, especially due to the ups and downs of investment returns.

Asset Volatility Ratio
Shown in the table below is the asset volatility ratio (AVR), which is the ratio of fair value of assets to payroll. Plans that have a higher AVR experience more volatile employer contributions (as a percentage of payroll) due to investment return. For example, a plan with an AVR of 8 may experience twice the contribution volatility due to investment return volatility than a plan with an AVR of 4. It should be noted that this ratio is a measure of the current situation. It increases over time but generally tends to stabilize as a plan matures.

Liability Volatility Ratio
Also shown in the table below is the liability volatility ratio (LVR), which is the ratio of accrued liability to payroll. Plans that have a higher LVR experience more volatile employer contributions (as a percentage of payroll) due to changes in liability. For example, a plan with an LVR of 8 is expected to have twice the contribution volatility of a plan with an LVR of 4 when there is a change in accrued liability, such as when there is a change in actuarial assumptions. It should be noted that this ratio indicates a longer-term potential for contribution volatility, since the AVR, described above, will tend to move closer to the LVR as the funded ratio approaches 100%
Contribution Volatility June 30, 2024 June 30, 2025

1. Fair Value of Assets $1,602,786 $1,796,614

2. Payroll $328,748 $333,294

3. Asset Volatility Ratio (AVR) [(1) + (2)] 4.9 5.4

4. Accrued Liability $1,880,700 $2,013,952

5. Liability Volatility Ratio (LVR) [(4) + (2)] 5.7 6.0 Maturity Measures History
Ratio of
Retiree Accrued Liability Asset Liability
Volatility Volatility
Valuation Date Total Accrued Libility Support Ratio Ratio Ratio 06/30/2017 32% 3.00 5.1 5.5
06/30/2018 29% 3.00 4.7 5.3
06/30/2019 27% 3.00 4.8 5.4
06/30/2020 25% 3.00 4.8 5.5
06/30/2021 23% 3.00 5.6 5.7
06/30/2022 21% 3.00 5.0 6.0
06/30/2023 19% 3.00 4.8 5.7
06/30/2024 45% 1.50 4.9 5.7
06/30/2025 42% 1.50 5.4 6.0
Rate Plans belonging to the Miscellaneous Risk Pool Page 23 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Funded Status - Termination Basis
The funded status measured on a termination basis is an estimated range for the financial position of the plan had the contract with CaPERS been terminated as of June 30, 2025. The accrued liability on a termination basis (termination liability) is calculated differently from the plan's ongoing funding liability. For the termination liability calculation, both compensation and service are frozen as of the valuation date and no future pay increases or service accruals are assumed. This measure of funded status is not appropriate for assessing the need for future employer contributions in the case of an ongoing plan, that is, for an employer that continues to provide CaPERS retirement benefits to active employees. Unlike the actuarial cost method used for ongoing plans, the termination liability is the present value of the benefits earned through the valuation date.

A more conservative investment policy and asset allocation strategy was adopted by the board for the Terminated Agency Pool.

The Terminated Agency Pool has limited funding sources since no future employer contributions will be made. Therefore, expected benefit payments are secured by risk-free assets and benefit security for members is increased while limiting the funding risk. However, this asset allocation has a lower expected rate of return than the remainder of the PERF and consequently, a lower discount rate assumption. The lower discount rate for the Terminated Agency Pool results in higher liabilities for terminated plans.

The discount rate used for actual termination valuations is a weighted average of the 10-year and 30-year Treasury yields where the weights are based on matching asset and liability durations as of the termination date. The discount rates used in the following analysis are based on 20-year Treasury bonds, which is a good proxy for most plans. The discount rate upon contract termination will depend on actual Treasury rates on the date of termination, which varies over time, as demonstrated below.

Valuation 20-Year Valuation 20-Year
Date Treasury Rate Date Treasury Rate
6/30/2016 1.86% 6/30/2021 2.00%
6/30/2017 2.61% 6/30/2022 3.38%
6/30/2018 2.91% 6/30/2023 4.06%
6/30/2019 2.31% 6/30/2024 4.61%
6/30/2020 1.18% 6/30/2025 4.79%
As Treasury rates are variable, the table below shows a range for the termination liability using discount rates 1% below and above the 20-year Treasury rate on the valuation date. The price inflation assumption is the 20-year Treasury breakeven inflation rate, that is, the difference between the 20-year inflation indexed bond and the 20-year fixed-rate bond.

The Fair Value of Assets also varies with interest rates and will fluctuate depending on other market conditions on the date of termination. Since it is not possible to approximate how the assets will change in different interest rate environments, the results below use the plan's share of the pool's Fair Value of Assets as of the valuation date.

Discount Rate: 3.79% Discount Rate: 5.79%
Price Inflation: 2.47% Price Inflation: 2.47%

1. Termination Liability! $2,775,141 $1,962,755

2. Fair Value of Assets 1,796,614 1,796,614

3. Unfunded Termination Liability K(1) - (2)] $978,527 $166,141

4. Funded Ratio [2) ÷ (1)] 64.7% 91.5%
" The termination liabilities calculated above include a 5% contingency load. The contingency load and other actuarial assumptions can be found in Appendix A of the Section 2 report.

In order to terminate, first contact our Pension Contract Services unit to initiate a Resolution of Intent to Terminate. The completed Resolution will allow a CaPERS actuary to provide a preliminary termination valuation with a more up-to-date estimate of the plan's assets and liabilities. Before beginning this process, please consult with a CaPERS actuary Rate Plans belonging to the Miscellaneous Risk Pool Page 24 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Funded Status - Low-Default-Risk Basis
Actuarial Standard of Practice (ASOP) No. 4, Measuring Pension Obligations and Determining Pension Plan Costs or ontributions, requires the disclosure of a low-default-risk obligation measure (LDROM) of benefit costs accrued as of th aluation date using a discount rate based on the vields of hiah quality fixed income securities with cash flows that replicat expected benefit payments. Conceptually, this measure represents the level at which financial markets would value the accrued plan costs, and would be approximately equal to the cost of a portfolio of low-default-risk bonds with similar financial characteristics to accrued plan costs.

As permitted in ASOP No. 4, the Actuarial Office uses the Entry Age Actuarial Cost Method to calculate the LDROM. This methodology is in line with the measure of "benefit entitlements" calculated by the Bureau of Economic Analysis and used by the Federal Reserve to report the indebtedness due to pensions of plan sponsors and, conversely, the household wealth due to pensions of plan members.

As shown below, the discount rate used for the DROM is 5.58%, which is the Standard FTSE Pension Liability Index' discount rate as of June 30, 2025.

Selected Measures on a Low-Default-Risk Basis June 30, 2025 Discount Rate 5.58%

1. Accrued Liability - Low-Default-Risk Basis (DROM)
a) Active Members $639,034
b) Transferred Members 593,007
C) Separated Members 259,742
d) Members and Beneficiaries Receiving Payments 968,394 e) Total $2,460,177

2. Fair Value of Assets 1,796,614

3. Unfunded Accrued Liability - Low-Default-Risk Basis [(1e) - (2)] $663,563

4. Unfunded Accrued Liability - Funding Policy Basis 217,338

5. Present Value of Unearned Investment Risk Premium [(3) - (4)] $446,225 The difference between the unfunded liabilities on a low-default-risk basis and on the funding policy basis represents the present value of the investment risk premium that must be earned in future years to keep future contributions for currently accrued plan costs at the levels anticipated by the funding policy.

Benefit security for members of the plan relies on a combination of the assets in the plan, the investment income generated from those assets, and the ability of the plan sponsor to make necessary future contributions. If future returns fall short of 6.8%, benefit security could be at risk without higher than currently anticipated future contributions.

The funded status on a low-default-risk basis is not appropriate for assessing the sufficiency of plan assets to cover the cost of settling the plan's benefit obligations (see Funded Status - Termination Basis), nor is it appropriate for assessing the need for future contributions (see Funded Status - Funding Policy Basis). 1 This index is based on a yield curve of hypothetical AA-rated zero-coupon corporate bonds whose maturities range from 6 months to 30 years. The index represents the single discount rate that would produce the same present value as discounting a standardized set of liability cash flows for a fully open pension plan using the yield curve. The liability cash flows are reasonably consistent with the pattern of benefits expected to be paid from the entire Public Employees' Retirement Fund for current and former plan members. A different index, hence a different discount rate, may be needed to measure the DROM for a subset of the fund, such as a single rate plan or a group of retirees.

Rate Plans belonging to the Miscellaneous Risk Pool Page 25 Supplementary Information
• Normal Cost by Benefit Group 27
• Summary of Valuation Data 28
• Status of PEPRA Transition 29
• Surcharge for Class 1 Benefits 29
• Plan's Major Benefit Options 30
CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Normal Cost by Benefit Group
The table below displays the Total Normal Cost broken out by benefit group for FY 2027-28. The Total Normal Cost is the annual cost of service accrual for the fiscal year for active employees and can be viewed as the long-term contribution rate for the benefits contracted. Generally, the normal cost for a benefit group subject to more generous benefit provisions will exceed ifer significanty from the cutent values due lo such factors as changes in economic anal demographic assam gons manges in plan benefits, or changes in applicable law.

Offset due to
Rate Total Normal Employee Employer Number
Plan Cost Contributions Normal Cost of Payroll on
Identifier Benefit Group Name FY 2027-28 FY 2027-28 FY 2027-28 Actives 6/30/2025 3057 Miscellaneous Plan 17.35% 6.94% 10.41% 1 $197,600
26452 PEPRA Miscellaneous Plan 15.80% 7.75% 8.05% 2 135,694 Total 3 $333,294
Note that if a Benefit Group above has multiple bargaining units, each of which has separately contracted for different benefits such as Employer Paid Member Contributions, then the Normal Cost shown for the respective benefit level does not reflect those differences.

Rate Plans belonging to the Miscellaneous Risk Pool Page 27 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Summary of Valuation Data
The table below shows a summary of the plan's member data upon which this valuation is based:

June 30, 2024 June 30, 2025
Active Members
Counts 3 3
Average Attained Age 43.2 42.8
Average Entry Age to Rate Plan 38.2 37.4
Average Years of Credited Service 4.2 4.6
Average Annual Covered Pay $109,583 $111,098
Annual Covered Payroll $328,748 $333,294
Present Value of Future Payroll $4,132,604 $4,108,211
Transferred Members
Counts 4 5
Separated Members
Counts 4 4
Retired Members and Beneficiaries*
Counts 2 2
Average Annual Benefits $31,573 $32,206
Total Annual Benefits $63,146 $64,411
Average Annual Benefits represents benefit amounts payable by this plan only. Some members may have service in another plan and would therefore have a larger total benefit than would be included as part of the average shown here. *Values include community property settlements
Rate Plans belonging to the Miscellaneous Risk Pool Page 28 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Status of PEPRA Transition
The California Public Employees' Pension Reform Act of 2013 (PEPRA), which took effect in January 2013, changed CaPERS retirement benefits and placed compensation limits on new members joining CaPERS on or after January 1, 2013. One of the objectives of PEPRA was to improve the ability of employers to manage the costs of retirement benefits for their members.

While such changes can reduce future benefit costs in a meaningful way, the full impact on employer contributions will not occul until all active members are subject to the rules and provisions of PEPRA. The table below illustrates the status of this transition as of June 30, 2025.

PEPRA
as a Percent
Classic PEPRA of Total
Active Members
Count 1 2 66.7%
Average Attained Age 39.8 44.3
Average Entry Age 26.0 43.0
Average Years of Credited Service 11.1 1.4
Average Annual Covered Payroll $197,600 $67,847
Annual Covered Payroll $197,600 $135,694 40.7%
Present Value of Future Payroll $2,766,708 $1,341,503 32.7% Transferred Members
Count 4 1 20.0%
Separated Members
Count 2 2 50.0%
Retired Members and Beneficiaries Receiving Payments
Count 0 0.0%
Average Annual Benefit 332206 $0
Total Annual Benefits $64,411 $0 0.0%
Accrued Liabilities
Active Members $440,176 $48,605 9.9%
Transferred Members 446,913 12,292 2.7%
Separated Members 199,496 13,402 6.3%
Retired Members and Beneficiaries 853,068 0.0%
Total $1,939,653 $74,299 3.7%
Surcharge for Class 1 Benefits
This plan has the following Class 1 benefit provisions which result in the surcharges indicated:

Class 1 benefit provisions
None
Rate Plans belonging to the Miscellaneous Risk Pool Page 29 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Plan's Major Benefit Options
Shown below is a summary of the major optional benefits for which the agency has contracted. A description of principal standard and optional plan provisions is in Section 2.

Rate Plan 3057 Benefit Group
Member Category Misc
Demographics
Actives Yes
Transfers/Separated Yes
Receiving Yes
Benefit Provision
Benefit Formula 2% @60
Social Security Coverage Yes
Full/Modified Modified
Employee Contribution Rate 7.00%
Final Average Compensation Period Three Year
Sick Leave Credit Yes
Non-Industrial Disability Standard
Industrial Disability No
Pre-Retirement Death Benefits
Optional Settlement 2 Yes
1959 Survivor Benefit Level No
Special No
Alternate (firefighters) No
Post-Retirement Death Benefits
Lump Sum $2,000
Survivor Allowance (PRSA) No
COLA 2%
Rate Plans belonging to the Miscellaneous Risk Pool Page 30 CaPERS Actuarial Valuation - June 30, 2025
All Rate Plans of the City of Bradbury in the Miscellaneous Risk Pool CaPERS ID: 5993006737
Plan's Major Benefit Options (Continued)
Section low is a summary of the major optional benefits for which the agency has contracted. A description of principal standard and optional plan provisions is in Rate Plan 26452 Benefit Group
Member Category Misc
Demographics
Actives Yes
Transfers/Separated Yes
Receiving No
Benefit Provision
Benefit Formula 2% @62
Social Security Coverage Yes
Full/Modified Full
Employee Contribution Rate 7.75%
Final Average Compensation Period Three Year
Sick Leave Credit Yes
Non-Industrial Disability Standard
Industrial Disability No
Pre-Retirement Death Benefits
Optional Settlement 2 Yes
1959 Survivor Benefit Level
Special
Alternate (firefighters)
Post-Retirement Death Benefits
Lump Sum $2,000
Survivor Allowance (PRSA) No
COLA 2%
Rate Plans belonging to the Miscellaneous Risk Pool Page 31 Section 2
California Public Employees' Retirement System
Risk Pool Actuarial Valuation Information
Section 2 may be found on the CaPERS website
in the Forms & Publications section
ATTACHMENT #2
/A CAPERS
alifornia Public Employees' Retirement Systen 888 CaPERS (or 888-225-7377) .O. Box 942715, Sacramento, CA 94229-271. TY: (877) 249-7442 Fax: (800) 959-6545 www.calpers.ca.gov
California Public Employees' Retirement System
July 01, 2026
Ms Diane Jensen Business Unit: 1900
City of Bradbur CaPERS ID: 5993006737
SOO WINSTON ST Invoice Number: 100000018343175
BRADBURY, CA 91008-1123 Invoice Date: July 01, 2026
Payment Due Date: July 31, 2026
Description Amount
Annual Unfunded Accrued Liability as of the June 30, 2024 Actuarial Valuation for Rate Plan Identifier 26452.

The total minimum required employer contribution is the sum of the Plan's Employer Normal Cost Rate (expressed as a percentage of payroll) plus the Employer Unfunded Accrued Liability Contribution Amount.

Your agency's monthly amount due toward the Unfunded Accrued Liability is:

Amount Due Date
$2,236.75 July 31, 2026
If you would like to prepay the entire Annual Payment toward your Plan's Unfunded Accrued Liability, you can submit the Annual Lump Sum Prepayment amount of $25,972.00 to the invoice number above by July 31, 2026 instead of the monthly Please refer to the June 30, 2024 Actuarial Valuation report for the details of this calculation. Reports are available at CaPERS On-Line or by visiting www.mycalpers.ca.gov
Unfunded Accrued Liability contributions are to be paid in full by the payment due date each month. Payments that are not received in full on or before this date will be assessed interest on the total outstanding balance due (Public Employees' Retirement Law § 20572 (b)). Please note that this monthly statement is a demand for payment in accordance with Public Employees' Retirement Law § 20572 (a). or questions concerning your invoice, please call our CaPERS Custome Contact Center at 888 CaPERS (or 888-225-7377) and ask to be referred to the Financial Office.

Total Due $2,236.75
CaIPERS-2263

Page 1 of 2 ends

ATTACHMENT #3
11 M CITY 0F0

BRADBURY
General Fund History
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
06/30/18 06/30/19 06/30/20 06/30/21 06/30/22 06/30/23 06/30/24 06/30/25 06/30/26 06/30/27 Fund Balance
—Revenues -Ending Fund Balance -Operating Expenditures Includes Reserves & Unrestricted Funds
7/1/2026 Proposed 6/30/2027 Proposed
Estimated Proposed Proposed Fund Balance Increase/(Decrease) Fund Balance Revenues Expenditures Reserved Unreserved in Fund Balance Unrestricted Funds:

Fund 101 - General Fund 5,255,120 1,509,220 1,391,451 1,430,000 3,942,889 117,769 Fund 102 - Utitily Users Tax Fund 511,677 14,000 60,000 465,677 (46,000) Fund 103 - Deposits Fund
Fund 112 - Long Term Planning Fee Fund 599 2,000 11.000 2,599 2,000 Fund 113 - Technology Fee Fund 3,348 7,750 98 (3,250)
5,770,743 1,532,970 1,462,451 1,430,000 4,411,262 70,519 5,841,262
Restricted Funds:

Fund 200 - Gas Tax Fund (5,282) 35,050 29,000 768 6,050 Fund 201 - SB1 Fund 50,805 26,250 77,055 26,250
Fund 203 - Prop. A Fund 39,785 15,500 55,285 15,500
Fund 204 - Prop. C Fund 3,672 20,500 14,672 11,000
Fund 205 - TDA Fund 3,765 5,075 5,000 3,840 75
Fund 208 - STPL Fund 26 27
Fund 209 - Recycling Grant Fund 20,124 5,400 25,524 5,400 Fund 210 - Measure R Fund 8,496 15,050 23,546 15,050
Fund 212 - Measure M Fund 8,804 17,250 26,054 17,250
Fund 213 - Measure W Fund 52,747 55,000 56,747 4,000
Fund 215 - COPs Fund 803,644 215,000 190,000 828,644 25,000 Fund 217 - County Park Grant Fund 10,442 300 10,742 300 Fund 219 - Fire Safe Grant 21,917 600 22,517 600
Fund 220 - Covid-19 Fund (ARPA)
1,018,945 410,976 284,500 • 1,145,421 126,476
6,789,689 1,943,946 1,746,951 1,430,000 5,556,684 196,995

Bradbury City CouncilAugust 18, 2026

Bradbury City Council
August 18, 2026