Corona City Council
June 18, 2025

Wednesday, June 18, 2024
Closed Session Council Board Room 5:00 PM
Open Session Council Chambers 6:00 PM
This meeting will be conducted in person. You can participate remotely: https://coronaca-gov.zoom.us/j/87107250276

1. CONVENE CLOSED SESSION

1.1 CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION Pursuant to Government Code Section 54956.9(d)(1)
Name of Case: Ronald Jimenez v. City of Corona
WCAB Case Numbers: ADJ16856857

1.2 CONFERENCE WITH REAL PROPERTYNEGOTIATORS
Pursuant to Government Code Section 54956.8
Property: Appx 704 SF Portion of APN 112-320-019
Agency Negotiator: Jacob Ellis, City Manager
Negotiating Party: Donald R. Long and Ann F. Long
Under Negotiation: Price & Terms of Payment

2. INVOCATION
The invocation may be offered by a person of any religion, faith, belief or non-belief, as well as Council Members. A list of volunteers is maintained by the City Clerk and interested persons should contact the Clerk for further information.

3. PLEDGE OF ALLEGIANCE - Fernando Junior Murillo

4. CONVENE OPEN SESSION
Individuals wishing to address the City Council are requested to complete a speaker card available at the rear of the Council Chambers. Please deliver the card to the City Clerk prior to the item being heard by the City Council or, for items not listed on the agenda, before the "Communications" section of the agenda is called.

Please observe a three-minute limit for communications and please note that the Communications section of the agenda is limited to items within the subject matter jurisdiction of the City Council that are not listed on the agenda. Once called upon to speak, you are requested to state your name and city of residence for the record.

5. PROCLAMATIONS/RECOGNITIONS/PRESENTATIONS

5.1 PRESENTATION: UPDATE ON RENT STABILIZATION ORDINANCE

6. CONSENT CALENDAR
All items listed on the Consent Calendar are considered to be routine matters, status reports or documents covering previous City Council action. The items listed on the Consent Calendar may be enacted in one motion. With the concurrence of the City Council, a Council member or any person in attendance may request that an item be removed for further consideration.

6.1 MINUTES - CITY COUNCIL MEETING JUNE 4, 2025

Approval of Minutes for the City Council, Successor Agency to the Redevelopment Agency of the City of Corona, Corona Public Financing Authority, Corona Utility Authority, Corona Housing Authority City Council Meeting of June 4, 2025

6.2 CITY COUNCIL, SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF

CORONA, CORONA PUBLIC FINANCING AUTHORITY, CORONA UTILITY AUTHORITY, AND

CORONA HOUSING AUTHORITY TO RECEIVE AND FILE THE MONTHLY FISCAL REPORT FOR APRIL 2025
That the City Council receive and file the monthly fiscal report for April 2025.

6.3 CITY COUNCIL, SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF

CORONA, CORONA PUBLIC FINANCING AUTHORITY, CORONA UTILITY AUTHORITY, AND

CORONA HOUSING AUTHORITY TO RECEIVE AND FILE THE MONTHLY INVESTMENT PORTFOLIO REPORT FOR APRIL 2025
That the City Council receive and file the monthly investment portfolio report for April 2025.

6.4 CITY COUNCIL ADOPTION OF ORDINANCE NO. 3419, SECOND READING OF AN ORDINANCE

OF THE CITY OF CORONA, CALIFORNIA
Amending Chapter 3.08 of the Corona Municipal Code to update the City’s purchasing regulations.

That the City Council table this item.

6.5 AMENDMENT TO THE COUNTY OF RIVERSIDE HOUSING AND WORKFORCE SOLUTIONS

SANTA ANA RIVERBED ENCAMPMENT RESOLUTION FUNDING GRANT AGREEMENT Approve an Amendment to the County of Riverside Housing and Workforce Solutions Encampment Resolution Funding Grant Agreement to add $114,580 to the agreement for a maximum obligation of $1,186,014.
a.

Authorize the City Manager, or his designee, to approve any non-substantive amendments, including term extensions, line-item adjustments and hourly compensation rate increases within the approved budget for the agreement.
b.

Authorize an appropriation and an estimated revenue increase in the amount of $114,580 to the Housing and Homeless Solutions Division within the State Encampment Resolution Funding Grant Fund 412 to increase the County of Riverside Housing and Workforce Solutions Encampment Resolution Funding Grant Agreement to a maximum allocation of $1,186,014.
c.

6.6 PROFESSIONAL SERVICES AGREEMENTS WITH BUREAU VERITAS NORTH AMERICA, TRUE

NORTH COMPLIANCE SERVICES, WILLDAN ENGINEERING, AND VCA CODE, FOR PLAN CHECK,

INSPECTION, CODE COMPLIANCE, AND ON-SITE STAFFING SERVICES PURSUANT TO REQUEST FOR PROPOSAL 25-052MB
That the City Council:

Award the Request for Proposal 25-052MB to Bureau Veritas North America, Inc. of Houston TX, True North Compliance Services, Inc. of Long Beach CA, Willdan Engineering of Riverside CA, and The Code Group, Inc. DBA VCA Code of Orange CA, for Plan Check Consulting, Inspection, Code Compliance, and On-Site Staffing Services in the amount of $500,000each, per fiscal year with an initial award period of July 1, 2025, through June 30, 2028.
a.

Authorize the City Manager, or his designee, to execute the agreements with Bureau Veritas North America, True North Compliance Services, Willdan Engineering, and VCA Code of Orange, and authorize the City Manager, or his designee, to extend the agreements for an additional three year period after the initial award period per CMC 3.08.070(I). b.

Authorize the City Manager, or his designee, to issue an annual purchase order to Bureau Veritas North America, True North Compliance Services, Willdan Engineering, and VCA Code in the amount of $500,000 each, per fiscal year.
c.

Authorize the City Manager, or his designee, to negotiate and execute any amendments to these agreements that are non-substantive or are otherwise in compliance with the City Council actions hereunder.
d.

6.7 PROFESSIONAL SERVICES AGREEMENT WITH GRIFFIN STRUCTURES, INC. FOR

PROFESSIONAL BUILDING COMMISSIONING SERVICES FOR THE COMMUNITY CENTER BUILDING IN THE CITY PARK REVITALIZATION, CAPITAL IMPROVEMENT PROJECT NO. FC2024-07, IN THE AMOUNT OF $98,762 That the City Council:

Award informal proposal to Griffin Structures, Inc. for building commissioning services for the Community Center in the City Park Revitalization Project, FC-2024-07. a.

Approve the Professional Services Agreement with Griffin Structures, Inc. for building commissioning services for a term of three years, in the amount of $98,762, and waive any minor irregularities in the proposal.
b.

Authorize the City Manager, or his designee, to execute the Professional Services Agreement with Griffin Structures, Inc. in the amount of $98,762, including any nonsubstantive extensions, change orders, purchase orders, and amendments up to the amount authorized in Corona Municipal Code Section 3.08.070(I), which is equivalent to $9,876 or 10%.
c.

6.8 PROFESSIONAL SERVICES AGREEMENT WITH G&G ENVIRONMENTAL COMPLIANCE, INC FOR

REGULATORY COMPLIANCE SERVICES
That the City Council:

Award Request for Proposal 25-060MB to G&G Environmental Compliance, Inc. to perform Regulatory Compliance Services.
a.

Approve the Professional Service Agreement with G&G Environmental Compliance, Inc. of Riverside, CA to provide regulatory compliance services in the amount of $1,728,900 for Fiscal Year 2026 and $1,647,100 for Fiscal Year 2027.
b.

Authorize the City Manager, or his designee, to execute the Professional Services Agreement with G&G Environmental Compliance, Inc., for a total contract amount of $1,728,900 for Fiscal Year 2026 and reduce the compensation amount to $1,647,100 for Fiscal Year 2027, and for each of the two, optional 2-year contract extensions including the ability to negotiate and execute non-substantive changes and extensions, purchase orders and amendments up to 10% of the contract amount.
c.

That the Corona Utility Authority review, ratify, and to the extent necessary, direct the City Council to take the above actions.

6.9 PROFESSIONAL SERVICES AGREEMENT WITH ALBERT A. WEBB ASSOCIATES FOR DESIGN

AND ENGINEERING SERVICES FOR THE DIGESTER EQUIPMENT REHABILITATION AND

ELECTRICAL UPGRADE PROJECT
That the City Council:

Award Request for Proposal (RFP) 25-034AT to Albert A. Webb Associates for Design and Engineering Services related to the Digester Equipment Rehabilitation and Electric Upgrade Project at Water Reclamation Facility No. 1.
a.

Approve the Professional Services Agreement with Albert A. Webb Associates of Riverside, CA in the amount of $398,081 for Design and Engineering Services related to the Digester Equipment Rehabilitation and Electrical Upgrade Project at Water Reclamation Facility No.

1. b.

Authorize the City Manager, or his designee, to execute the Professional Services Agreement with Albert A. Webb Associates in the amount of $398,081 including an nonsubstantive extensions, change orders, purchase orders, and amendment up to the amount authorized in Corona Municipal Code Section 3.08.070(I) which is equivalent to 10% or $39,808.
c.

That the Corona Utility Authority review, ratify, and to the extent necessary, direct that the City Council take the above actions.

6.10 MAINTENANCE AND GENERAL SERVICES AGREEMENTS FOR CONTRACTUAL LANDSCAPE MAINTENANCE SERVICES IN THE CITY OF CORONA FOR BID AREA 2- LMD/CFD, BID AREA 3- PARKS GENERAL AND LMD/CFD, BID AREA 4 - PARKS GENERAL AND LMD/CFD, BID AREA 4 –

PARKS GENERAL, AND FOOTHI
That the City Council:

Award NIB-25-067SB for landscape maintenance services to Integrity Arborist and Ecoscape Inc for Bid Area 2-LMD/CFD; Greenfield Management for Bid Area 3- Parks General and LMD/CFD, Tropical Plaza Nursery, Inc. for Bid Area 4 – Parks and LMD/CFD; Greentech Landscape Inc for Bid Area 4- Parks General and Integrity Arborist and Ecoscape Inc for Foothill Extension.
a.

Approve the Maintenance and General Services Agreements with Integrity Arborist and Ecoscape Inc in the amount of $522,897.34 for Bid Area 2-LMD/CFD; Greenfield Management in the amount of $504,425.75 for Bid Area 3- Parks General and LMD/CFD; Tropical Plaza Nursery, Inc. in the amount of $298,670.44 for Bid Area 4 – Parks and LMD/CFD; Greentech Landscape Inc in the amount of $283,200 for Bid Area 4- Parks General and Integrity Arborist and Ecoscape Inc in the amount of $47,251 for Foothill Extension for the initial term of July 1, 2025, through June 30, 2027, with two additional twoyear optional renewal periods, and waive any and all minor irregularities in the proposal. b.

Authorize the City Manager, or his designee, to execute the Maintenance and General Services Agreements with Integrity Arborist and Ecoscape Inc in the amount of $522,897.34; Greenfield Management in the amount of $504,425.75; Tropical Plaza Nursery, Inc. in the amount of $298,670.44; Greentech Landscape Inc in the amount of $283,200, and Integrity Arborist and Ecoscape Inc in the amount of $47,251 per fiscal year, including nonsubstantive extensions, change orders, purchase orders and amendments up to the amount authorized in the Corona Municipal Code Section 3.08.060(J) which is equivalent of 10% or $165,644.49.
c.

6.11 AUTHORIZE A MEMORANDUM OF UNDERSTANDING (MOU) BETWEEN THE UNITED STATES

DEPARTMENT OF JUSTICE, DRUG ENFORCEMENT ADMINISTRATION (DEA) AND THE CITY OF

CORONA POLICE DEPARTMENT FOR PARTICIPATION IN THE SOUTHERN CALIFORNIA DRUG

TASK FORCE
That the City Council:

Authorize the City Manager, or their designee, to enter into a Memorandum of Understanding (MOU) between the United States Department of Justice, Drug Enforcement Administration (DEA), and the City of Corona Police Department to participate in the Southern California Drug Task Force.
a.

Authorize the City Manager, or their designee, to enter into an Addendum to the MOU between the DEA, and the City of Corona Police Department to participate in the Southern California Drug Task Force for the reimbursement of joint operations expenses from the Treasury Forfeiture Fund.
b.

Authorize the City Manager, or their designee, to approve the ongoing continuance of overtime expense reimbursement from the MOU with the DEA in an amount not to exceed the sum equivalent to 25% of the salary of a GS-12, for a Task Force Officer valid through September 30, 2029.
c.

Authorize the City Manager, or their designee, to approve the ongoing continuance of the MOU and the Addendum to the MOU with the DEA through September 30, 2029. d.

6.12 CHANGE ORDER FOR FISCAL YEAR 2026 WITH JCI JONES CHEMICAL, INC., AND ISSUANCE OF

A PURCHASE ORDER TO NORTHSTAR FOR THE PURCHASE OF SODIUM HYDROXIDE That the City Council:

Authorize the City Manager, or his designee, to issue a Change Order to increase the Purchase Order with JCI Jones Chemicals, Inc. for Fiscal Year 2026 by $20,000, from $100,000 to $120,000, for the purchase of Sodium Hydroxide. a.

Authorize the City Manager, or his designee, to issue a Purchase Order for Fiscal Year 2026 to NorthStar Chemical in the amount of $120,000 for the purchase of Sodium Hydroxide. b.

Authorize the City Manager, or his designee, to negotiate and execute non-substantive extensions, change orders, and amendments up to 10% per purchase order as authorized in Corona Municipal Code Section 3.08.080(I).
c.

Authorize an exception to competitive bidding pursuant to Corona Municipal Code Section

3.08.140(E) that competitive bidding has been satisfied for the reason provided in the Analysis section.
d.

That the Corona Utility Authority review, ratify, and to the extent necessary, direct the City Council take the above actions.

6.13 RESOLUTIONS LEVYING SPECIAL TAXES TO BE COLLECTED DURING FISCAL YEAR 2026 FOR

SEVERAL BONDED COMMUNITY FACILITIES DISTRICTS
That the City Council:

Adopt Resolution No. 2025-047, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bond of Community Facilities District No. 2000-1 (Eagle Glen II), 2020 Special Tax Refunding Bond, and the administrative a.

expenses with respect to the bond.

Adopt Resolution No. 2025-048, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bond of Community Facilities District No. 2001-2 (Cresta-Grande), 2020 Special Tax Refunding Bond (Improvement Area No. 1), and the administrative expenses with respect to the bond. b.

Adopt Resolution No. 2025-049, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bond of Community Facilities District No. 2001-2 (Cresta-Grande), 2020 Special Tax Refunding Bond (Improvement Area No. 2), and the administrative expenses with respect to the bond. c.

Adopt Resolution No. 2025-050, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bonds of Community Facilities District No. 2002-1 (Dos Lagos), 2017 Special Tax Refunding Bonds, and the administrative expenses with respect to the bonds.
d.

Adopt Resolution No. 2025-051, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bonds of Community Facilities District No. 2002-1 (Dos Lagos), Improvement Area 1, 2017 Special Tax Refunding Bonds, and the administrative expenses with respect to the bonds. e.

Adopt Resolution No. 2025-052, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bonds of Community Facilities District No. 2002-4 (Corona Crossings), 2017 Special Tax Refunding Bonds, and the administrative expenses with respect to the bonds.
f.

Adopt Resolution No. 2025-053, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bond of Community Facilities District No. 2003-2 (Highlands Collection) 2020 Special Tax Refunding Bond, and the administrative expenses with respect to the bond.
g.

Adopt Resolution No. 2025-054, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bond of Community Facilities District No. 2004-1 (Buchanan Street) 2020 Special Tax Refunding Bond, and the administrative expenses with respect to the bond.
h.

Adopt Resolution No. 2025-055, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bonds of Community Facilities District No. 2016-2 (Terrassa), 2018 Special Tax Bonds, Special Tax A, and the administrative expenses with respect to the bonds.
i.

Adopt Resolution No. 2025-056, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bonds of Community Facilities District No. 2017-2 (Valencia/Seville), 2018 Special Tax Bonds, Special Tax A, and the administrative expenses with respect to the bonds.
j.

Adopt Resolution No. 2025-057, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bonds of Community Facilities District No. 2018-1 (Bedford) Improvement Area No. 1, 2018 Special Tax Bonds and 2020 Special Tax Bonds, Special Tax A, and the administrative expenses with respect to the bonds.
k.

Adopt Resolution No. 2025-058, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bonds of Community Facilities District 2018-1 (Bedford) Improvement Area No. 2, 2024 Special Tax Bonds, Special Tax A, and the administrative expenses with respect to the bonds. l.

Adopt Resolution No. 2025-059, levying special taxes to be collected during Fiscal Year 2026 for the payment of the principal and interest on the outstanding bonds of Community Facilities District No. 2018-2 (Sierra Bella), 2022 Special Tax Bonds, Series A, Special Tax A, and the administrative expenses with respect to the bonds. m.

Adopt Resolution No. 2025-078, levying special taxes to be collected during Fiscal Year 2026 for the payment of administrative expenses incurred in connection with the levy and collection of special taxes, the establishment of the reserve fund, and the collection and accumulation of funds for the acquisition or construction of certain public facilities within Community Facilities District No. 2018-1 (Bedford) Improvement Area No. 4, Special Tax A. n.

6.14 RESOLUTION LEVYING SPECIAL TAXES TO BE COLLECTED DURING FISCAL YEAR 2026 FOR THE CITY’S MAINTENANCE AND SERVICES COMMUNITY FACILITIES DISTRICT That the City Council:

Adopt Resolution No. 2025-060, levying special taxes to be collected during Fiscal Year 2026 for the payment of the annual cost of maintenance services within Community Facilities District No. 2016-2 (Terrassa), Special Tax B.
a.

Adopt Resolution No. 2025-061, levying special taxes to be collected during Fiscal Year 2026 for the payment of the annual cost of maintenance services within Community Facilities District No. 2017-2 (Valencia/Seville), Special Tax B.
b.

Adopt Resolution No. 2025-062, levying special taxes to be collected during Fiscal Year 2026 for the payment of the annual cost of maintenance services within Community Facilities District No. 2018-1 (Bedford), Special Tax B.
c.

Adopt Resolution No. 2025-063, levying special taxes to be collected during Fiscal Year 2026 for the payment of the annual cost of maintenance services within Community Facilities District No. 2018-2 (Sierra Bella), Special Tax B.
d.

Adopt Resolution No. 2025-064, levying special taxes to be collected during Fiscal Year 2026 for the payment of annual cost of the operation and maintenance of parkways and open space within Community Facilities District No. 97-1 (South Corona Landscape). e.

Adopt Resolution No. 2025-065, levying special taxes to be collected during Fiscal Year 2026 for the payment of annual cost of the operation and maintenance of storm drainage facilities within Community Facilities District No. 2000-1 (Eagle Glen II). f.

Adopt Resolution No. 2025-066, levying special taxes to be collected during Fiscal Year 2026 for the payment of annual cost of the operation and maintenance of parkways and open space within Community Facilities District No. 2002-2.
g.

Adopt Resolution No. 2025-067, levying special taxes to be collected during Fiscal Year 2026 for the payment of annual cost of the operation and maintenance of parkways and open space within Community Facilities District No. 2002-3.
h.

Adopt Resolution No. 2025-068, levying special taxes to be collected during Fiscal Year 2026 for the payment of the annual cost of the operation, maintenance and lighting of parkways, streets, road and open space within Community Facilities District No. 2011-1. i.

Adopt Resolution No. 2025-069, levying special taxes to be collected during Fiscal Year 2026 for the payment of the annual cost of the operation, maintenance and lighting of parkways, streets, road and open space within Community Facilities District No. 2001-1 j.

Adopt Resolution No. 2025-070, levying special taxes to be collected during Fiscal Year 2026 for the payment of the annual cost of maintenance services within Community Facilities k.

District No. 2016-3 (Maintenance Services).

6.15 RESOLUTION NO. 2025-079, AUTHORIZING THE CITY MANAGER, OR HIS DESIGNEE, TO RECEIVE AND ACCEPT SENATE BILL-1 ROAD REPAIR AND ACCOUNTABILITY ACT OF 2017 REVENUE FOR FISCAL YEAR 2025-2026 IN AN ESTIMATED AMOUNT OF $4,243,157, FOR THE FISCAL YEAR 2025-2026 C
That the City Council:

Adopt Resolution No. 2025-079, authorizing the City Manager, or his designee, to receive and accept Senate Bill-1 Road Repair and Accountability Act of 2017 revenue for Fiscal Year 2025-2026 in an estimated amount of $4,243,157, for the Fiscal Year 2026 Citywide Street Pavement Rehabilitation Capital Improvement Project No. ST-2025-26. a.

Accept $4,243,157 in Fiscal Year 2025-2026, as awarded by the State, and authorize an appropriation in the amount of $287,357 for Fiscal Year 2026 from the unappropriated Road Maintenance and Rehabilitation Fund 221 to the Citywide Street Pavement Rehabilitation Capital Improvement Project No. ST-2025-26.
b.

Authorize an estimated revenue increase in the amount of $132,640 for Fiscal Year 2026 in the Road Maintenance and Rehabilitation Account Fund 221 for reimbursement by the State, per the Road Repair and Accountability Act of 2017 - Local Streets and Roads Funding Amended Annual Reporting Guidelines.
c.

6.16 RESOLUTION LEVYING SPECIAL TAXES TO BE COLLECTED DURING FISCAL YEAR 2026 FOR COMMUNITY FACILITIES DISTRICT NO. 2016-1 (PUBLIC SERVICES) That the City Council adopt Resolution No. 2025-046, levying special taxes to be collected during Fiscal Year 2026 for the payment of the annual cost of public services within Community Facilities District No. 2016-1 (Public Services).

6.17 CITY COUNCIL CONSIDERATION OF RESOLUTION NO. 2025-084, DECLARING ITS INTENT TO

REIMBURSE EXPENDITURES RELATED TO THE ADVANCED METERING INFRASTRUCTURE

PROJECT FROM THE PROCEEDS OF THE SALE OF TAX-EXEMPT BONDS That the City Council adopt Resolution No. 2025-084, declaring its intent to reimburse expenditures related to the Advanced Metering Infrastructure Project from the proceeds of the sale of tax-exempt bonds.
a.

That the Corona Utility Authority review, ratify, and to the extent necessary, direct that the City Council take the above action.
b.

6.18 RESOLUTION NO. 2025-087 ORDERING THE SUMMARY VACATION OF EXCESS PUBLIC RIGHTOF-WAY ON THE SOUTH SIDE OF GREEN RIVER ROAD WEST OF DOMINGUEZ RANCH ROAD That the City Council adopt Resolution No. 2025-087, ordering the summary vacation of a portion of public-right-of-way on Green River Road, west of the intersection of Green River Road and Dominguez Ranch Road.

6.19 RESOLUTIONS APPROVING THE CITY OF CORONA’S INVESTMENT POLICY AND THE PENSION

STABILIZATION TRUST INVESTMENT POLICY
That the City Council:
a. Adopt Resolution No. 2025-082, approving the City of Corona’s Investment Policy.

b. Adopt Resolution No. 2025-083, approving the Pension Stabilization Trust Investment Policy.

6.20 RESOLUTION STATING THE INTENTION TO COMPLY WITH ALL CONDITIONS OF STATE

REVOLVING FUND LOAN PROGRAM REIMBURSEMENT RESOLUTION REQUIREMENTS FOR THE PFAS REMOVAL PROJECT, AND A RESOLUTION REPEALING RESOLUTION NO. 2024-106 That the City Council:

Adopt Resolution No. 2025-085, declaring the City’s intent to comply with all conditions of the California State Water Resources Control Board’s Drinking Water State Revolving Fund loan program reimbursement requirements for the PFAS Removal Project, reflecting a revised maximum principal amount of $11,891,000.
a.
b. Adopt Resolution No. 2025-086, repealing Resolution No. 2024-106.

That the Corona Utility Authority review, ratify, and, to the extent necessary, direct that the City Council take the above actions.

6.21 AMENDMENT TO RESOLUTION NUMBER 2001-130 REGARDING MILITARY LEAVE That the City Council approve Resolution Number 2025-081, A Resolution of the City Council of the City of Corona, California, Amending Resolution Number 2001-130 Providing for Supplementary Military Pay and Benefits for City Employees Called to Active Duty ith the Armed Forces of the United States of America.

6.22 MAINTENANCE/GENERAL SERVICES AGREEMENT WITH RE CHAFFEE CONSTRUCTION, INC.

FOR SPOILS REMOVAL SERVICES
That the City Council:

Award Request for Proposal 25-058AS for Utilities Department Spoils Removal Services to RE Chaffee Construction, Inc., to perform As-Needed Spoils Removal Services. a.

Approve the Maintenance/General Services Agreement with RE Chaffee Construction, Inc., of Wrightwood, CA, to perform As-Needed Spoils Removal Services in the amount of $425,000.
b.

Authorize the City Manager, or his designee, to execute the Maintenance/General Services Agreement with RE Chaffee Construction, for a total contract of $425,000 per fiscal year for the initial contract term ending June 30, 2027, with two (2) optional two-year extensions including the ability to negotiate and execute non-substantive changes and extensions, purchase orders and amendments up to $42,500 or 10% of the original contract amount. c.

Authorize the City Manager, or his designee, to issue a Purchase Order to RE Chaffee Construction, Inc. in the amount of $425,000 per fiscal year. d.

That the Corona Utility Authority review, ratify, and, to the extent necessary, direct the City Council to take the above actions.

6.23 FOURTH AMENDMENT TO PROFESSIONAL SERVICES AGREEMENT WITH GENEX SERVICES, LLC (FKA EXCEL MANAGED CARE) FOR WORKERS’ COMPENSATION MANAGED CARE

SERVICES
That the City Council:

Authorize the attached Fourth Amendment to the professional services agreement with Genex Services, LLC (FKA Excel Managed Care) for Workers’ Compensation Managed care a.

Program Services (Utilization Review, Nurse Case Management and Return to Work Services) to extend the term for one year through June 30, 2026, leaving three one-year optional extensions, to revise the rate schedule provided for in Exhibit “C” (Compensation) to increase the Field Case Management Fee by 2% from $98.90 to $100.88 per hour for FY 2026, and to authorize an annual adjustment to the Field Rate Case Management Fee equal to the lesser of two percent (2%) or the change in the Consumer Price Index. b. Authorize the to extend purchase orders to the above firm in the required amount.

Authorize the City Attorney/Legal and Risk Management Director to approve amendments to each agreement up to the amount provided for in Corona Municipal Code Section

3.08.070(I).
c.

Authorize the City Attorney/Legal and Risk Management Director to (1) exercise the City’s discretion regarding whether to extend the agreement for three (3) additional one-year periods, as discussed herein, and to execute the amendments to the agreement to implement the same; and (2) approve and execute any additional non-substantive amendments to the agreement which are consistent with the direction provided for herein. d.

That the Corona Utility Authority review, ratify, and to the extent necessary, direct that the City Council take the above actions.

7. COMMUNICATIONS FROM THE PUBLIC
Persons wishing to address the City Council are requested to state their name and city of residence for the record. This portion of the agenda is intended for general public comment only, which means it is limited to items within the subject matter jurisdiction of the City Council that are not listed on the agenda. Please note that state law prohibits the City Council from discussing or taking action on items not listed on the agenda. The City Council will appreciate your cooperation in keeping your comments brief. Please observe a three-minute limit for communications.

8. PUBLIC HEARINGS
This portion of the agenda is for advertised public hearing items where formal public testimony on each individual item is accepted prior to City Council action.

8.1 PUBLIC HEARING CONFIRMING THE DIAGRAM AND ASSESSMENT FOR LIGHTING MAINTENANCE DISTRICT NO. 84-1 FOR FISCAL YEAR 2026 AND TO DETACH CERTAIN

TERRITORY FROM THE DISTRICT
That the City Council adopt Resolution No. 2025-041, confirming the diagram and assessment for Lighting Maintenance District No. 84-1 for Fiscal Year 2026 and to detach certain territory from the District.

8.2 PUBLIC HEARING CONFIRMING THE DIAGRAM AND ASSESSMENT FOR LIGHTING MAINTENANCE DISTRICT NO. 2003-1 FOR FISCAL YEAR 2026
That the City Council adopt Resolution No. 2025-042, confirming the diagram and assessment for Lighting Maintenance District No. 2003-1 for Fiscal Year 2026.

8.3 PUBLIC HEARING CONFIRMING THE DIAGRAM AND ASSESSMENT WITHIN ZONES 1, 2, 4, 6, 7, 10, 15, 17, 18, AND 19 OF LANDSCAPE MAINTENANCE DISTRICT NO. 84-2 FOR FISCAL YEAR 2026
That the City Council adopt Resolution No. 2025-043, confirming the diagram and assessment within

Zones 1, 2, 4, 6, 7, 10, 15, 17, 18, and 19 of Landscape Maintenance District No. 84-2 for Fiscal Year 2026.

8.4 PUBLIC HEARING CONFIRMING THE DIAGRAM AND ASSESSMENT WITHIN ZONE 14 OF LANDSCAPE MAINTENANCE DISTRICT NO. 84-2 FOR FISCAL YEAR 2026 That the City Council adopt Resolution No. 2025-044, confirming the diagram and assessment within Zone 14 of Landscape Maintenance District No. 84-2 for Fiscal Year 2026.

8.5 PUBLIC HEARING CONFIRMING THE DIAGRAM AND ASSESSMENT WITHIN ZONE 20 OF LANDSCAPE MAINTENANCE DISTRICT NO. 84-2 FOR FISCAL YEAR 2026 That the City Council adopt Resolution No. 2025-045, confirming the diagram and assessment within Zone 20 of Landscape Maintenance District No. 84-2 for Fiscal Year 2026.

8.6 RESOLUTION NO. 2025-080 ESTABLISHING AN APPLICATION FEE FOR AN OUTDOOR

SIDEWALK DINING PERMIT AND OUTDOOR RETAIL KIOSK PERMIT
That the City Council adopt Resolution 2025-080, establishing an application fee for an outdoor sidewalk dining permit and outdoor retail kiosk permit, and to update the Citywide Master Fee Recovery Schedule to include the new applications fees.

9. ADMINISTRATIVE REPORTS
The portion of the agenda is for Council discussion and action on staff reports and new topics that may not be routine status reports, or documents covering previous City Council action.

9.1 ADOPTION OF THE SKYLINE AREA MASTER PLAN
That the City Council review and adopt the Skyline Area Masterplan.

9.2 AUTOMATED TIMED LOCKS FOR PARK RESTROOM SITES
That the City Council provide direction on the installation of automated door locking systems at eight park restrooms.

10. LEGISLATIVE MATTERS
The portion of the agenda is for proposed ordinances presented for the City Council's consideration.

11. REPORTS FROM BOARDS AND COMMISSIONS
This portion of the agenda lists items from Commissions and Boards from the City Council, Commissioners, and Staff.

11.1 Library Board of Trustees

11.2 Planning & Housing Commission

11.2.a STAFF REPORT - CONDITIONAL USE PERMIT MODIFICATION 2024-0002

That the City Council:

Take no action, thereby affirming the Planning and Housing Commission’s action granting CUPM2024-0002, based on the findings contained in the staff report and conditions of approval. OR
a.
b. Set the item for review at a subsequent meeting.

11.3 Parks & Recreation Commission

11.4 Regional Meetings

11.4.a UPDATE FROM VICE MAYOR JACQUE CASILLAS ON THE WESTERN RIVERSIDE

COUNCIL OF GOVERNMENTS (WRCOG) GENERAL ASSEMBLY MEETING OF JUNE 12, 2025

11.4.b UPDATE FROM COUNCIL MEMBER WES SPEAKE ON THE SOUTHERN CALIFORNIA

ASSOCIATION OF GOVERNMENTS (SCAG) TRANSPORTATION COMMITTEE MEETING OF JUNE 5, 2025

11.4.c UPDATE FROM COUNCIL MEMBER WES SPEAKE ON THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION (RCTC) MEETING OF JUNE 11, 2025

11.4.d UPDATE FROM COUNCIL MEMBER WES SPEAKE ON THE CAL CITIES HOUSING,

COMMUNITY, AND ECONOMIC DEVELOPMENT POLICY COMMITTEE MEETING OF JUNE 12, 2025

12. CITY ATTORNEY'S REPORTS AND COMMENTS

13. CITY MANAGER'S REPORTS AND COMMENTS

14. CITY COUNCIL MEMBERS' REPORTS AND COMMENTS

14.1 APPOINTMENT TO THE HISTORIC PRESERVATION BOARD
That the City Council approve the appointment.

14.2 APPOINTMENT TO THE HISTORIC PRESERVATION BOARD
That the City Council approve the appointment.

15. FUTURE AGENDA ITEMS
This portion of the agenda is for items requested by the Mayor, Council Members or Staff for consideration at a future meeting. No immediate action is taken on Future Agenda Items; this section serves to highlight topics that will be considered at upcoming meetings. Council action on items that have appeared in this section takes place under Administrative Reports, when accompanied by a staff report.

15.1 (NEW) SAVE THE CORONA CLOCK (T. RICHINS & W. SPEAKE) TBD

15.2 (NEW) LETTER OF SUPPORT FROM THE CORONA HERITAGE FOUNDATION FOR THE NATIONAL REGISTER NOMINATION OF CORONA FOOTHILL RANCH (T. RICHINS & W.

SPEAKE) TBD

15.3 UPDATE CMC 9.52.030, NO EXCEPTION - CERTAIN CCW PERMITS (T. DADDARIO) JULY 2, 2025

15.4 NORTH MALL CONCEPTS (STAFF) JULY 2, 2025

15.5 FEATHER FLAG PERMIT AMENDMENTS (W. SPEAKE) JULY 2, 2025

15.6 REVIEW/AMEND SECTION 17.63.120 ALTERATION, RELOCATION OR DEMOLITION OF HISTORIC RESOURCES, SPECIFICALLY (D)(6) (W. SPEAKE) JULY/AUGUST

15.7 EXPLORE CMC ORDINANCE CHANGES TO SET TIME LIMITS FOR SPECIFIC FOR TEMPORARY FENCING AND BOARDED UP WINDOWS (W. SPEAKE) AUGUST/SEPTEMBER

15.8 EXPLORE CORDON PRICING OF THE FOOTHILL CORRIDOR TO DETER CUT THROUGH TRAFFIC (W. SPEAKE) AUGUST/SEPTEMBER

15.9 METHODOLOGY FOR GREEN RIVER ROAD/FOOTHILL PARKWAY TRAFFIC STUDY (STAFF)

SEPTEMBER/OCTOBER

15.10 LETTER OF SUPPORT REQUEST FOR THE #REASONABLERANKS CAMPAIGN (J. STEINER) TBD

16. ADJOURNMENT
The next regular meeting of the City Council is scheduled for July 2, 2025 or thereafter as noted on the posted agenda for closed session items in the City Council Board Room followed by the regular meeting at 6:00 p.m. or thereafter as noted on the posted agenda in the City Council Chambers.

This meeting is being conducted in person as well as via teleconference. For members of the public wishing to submit written comments, please email comments to the City Clerk at [email protected] prior to the City Council meeting and your comments will be made part of the official record of proceedings.

In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the ADA Coordinator at (951) 736-2235. Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting.

Meeting is Being Recorded.

Mobile Home
Rent Stabilization
Ordinance & In-Lieu Agreement
Karen Roper
Housing & Homeless Solutions Manager
&
Dominique Clark
RSG Director
June 18, 2025 Page 15 of 2543
The Ask

1. Confirm direction provided on desired mobile home rent stabilization ordinance components during September 26, 2024 Fall Council Workshop.

2. Provide direction on whether to include an in-lieu agreement option in the mobile home rent stabilization ordinance and the desired components of an agreement.

3. Provide staff direction on next steps to finalize rent stabilization ordinance and/or in-lieu agreement and return to City Council for final approval.

That the City Council:
2 Page 16 of 2543
Background
3 Page 17 of 2543
• 2017: Mobile home residents’ initial petition for rent stabilization is mitigated by a private agreement between Corona La Linda park ownership and residents. • June 2022: In response to a new request by Mobile home residents for a rent stabilization ordinance, Council directed staff to develop an ordinance and program. • November 2022: City Council directs staff to analyze mobile home parks to determine if a “legitimate government interest” exists for rent stabilization. • October 2023: Phase 1 Study completed. City Council presented with findings from the “legitimate government interest” analysis and directed staff to proceed with establishing a local rent stabilization ordinance and implementation program.

Background
4 Page 18 of 2543
Background
• August 2024: Phase II study completed in preparation for Fall policy workshop. • September 2024: At the Fall policy workshop, City Council directs staff to move forward with a mobile home rent stabilization ordinance and explore an in-lieu agreement with park owners.
• November 2024: City Council created an ad hoc committee to further analyze the in-lieu agreement concept and gather information from the community. • March and April 2025: The ad hoc committee held two park owner workshops and two homeowner workshops to collect feedback on the in-lieu agreement concept and components.
5 Page 19 of 2543
Rent Stabilization
Ordinance
Considerations
6 Page 20 of 2543
RSO Program Components:

Summary of Council Direction
Rent Limits Limit annual inflationary rent increases to 75% of the change in CPI, capped at 5%.

Vacancy Control Include vacancy control with an allowance to increase rents up to 3 to 10% upon turnover.

Petitions Include all options: capital, tenant, and CPI (fair return is already legally mandated).

Petition Fees Charge applicants separately for the cost of processing petitions and allow 50% to be passed through to residents.

Oversight &
Petition Authority
Establish program staff as the oversight and petitions authority with the support of consultants and appeals of decisions going to a hearing officer.

Appeals Allow appeals to be processed pursuant to CMC 1.09.

Registration
Require the submission of an initial tenant roll and utilize a CPI petition process and resident noticing to promote program compliance. Require updated tenant information upon turnover of spaces.

Registration Fees Establish an annual rental registry fee to cover administrative costs to enforce program compliance.

Administrative
Penalties
Defer to the existing administrative citation process outlined in the municipal code. Require damages to be paid at three times the difference to residents in instances of rent overcharges.

Program Type Proactive program
7

In-Lieu Agreement
Considerations
8 Page 22 of 2543
In-Lieu Agreement Program Considerations
In-Lieu Agreement Framework
Initial Idea Include option in rent stabilization ordinance for park owners to execute an inlieu agreement rather than be subject to the ordinance Homeowner
Feedback
• 87% of comments were in opposition to an in-lieu agreement • 13% of comments were in support of an in-lieu agreement • Concerns expressed:
o Lack of City oversight
o Confusion about the origin of the in-lieu agreement concept Park Owner
Feedback
• Some are concerned that 5-year term is too short
o Some prefer 7-10 years for stability
• Would agreement apply to new owners in the event of a sale? Decision Points 1. Whether to include an in-lieu agreement option in the RSO

2. Whether agreement would run with the land in the event of a sale

3. Term length (5 years? 7 years? 10 years?)
9 Page 23 of 2543
In-Lieu Agreement Program Considerations
Annual CPI Rent Adjustment
Initial Idea Allow park owners to increase space rents every 12 months by a percentage equal to 100% of the change in CPI, capped at 4%
Homeowner
Feedback
• 73% support a 2% rent cap (17% specified 75% CPI limit) • 20% support a 3% rent cap (3% specified 75% CPI limit) • 3% support a 4% rent cap
• 3% support a 2.7% rent cap
• 1 homeowner expressed opposition to a rent increase floor Park Owner
Feedback
• Limits should be higher than RSO to incentivize participation • Set limit at 100% of CPI with 3% floor and 8% cap
• Allow floor and rent banking to make up for years with low inflation Decision
Points

1. What should the CPI limit be set at? (e.g., 75% of CPI, 100% of CPI)

2. What should the rent increase cap be? (e.g., 2%, 3%, 4%, 8%)

3. What should the rent increase floor be? (e.g., no floor, 3%)

4. Should rent banking be allowable?
10 Page 24 of 2543
In-Lieu Agreement Program Considerations
Vacancy Decontrol
Initial Idea Do not regulate rent increases when a space is vacated and re-rented Homeowner
Feedback
• 6 homeowners expressed concerns about resale value of coaches • 6 homeowners expressed support of vacancy control
• 1 homeowner expressed support of no increase upon turnover Park Owner
Feedback
• Many park owners expressed that vacancy decontrol would create a significant incentive to choose the in-lieu agreement option • 1 park owner representative expressed that vacancy decontrol encourages healthy sales activity, which they believe benefits both park owners and homeowners
• Nearly all park owners expressed that vacancy decontrol would not address increases in operating expenses since turnover rate is 0% to 5% per year Decision
Points

1. Regulate rent increases upon turnover (no increase or establish a rent increase limit upon turnover)? or

2. Do not regulate rent increases upon turnover?
11 Page 25 of 2543
In-Lieu Agreement Program Considerations
Fair Return Rent Increases
Initial Idea Eliminate the process for park owners to request fair return rent adjustments Homeowner
Feedback
• 3 homeowners expressed concerns that eliminating the process for fair returns would also eliminate their ability to petition for rent decreases in the event of a reduction in services or amenities
• 1 homeowner expressed a preference for an in-lieu agreement over park owners’ ability to request a fair return increase every year Park Owner
Feedback
• 4% annual CPI rent increase does not account for rapidly rising costs (e.g., property insurance) and would pose a financial strain
o Establish circumstances when park owners can pass-through certain costs (e.g., if operating expenses exceed a certain percentage) • Include clause to allow rent increases beyond cap during emergencies or natural disasters
Decision
Points
Whether to eliminate the fair return petition process, or to allow the fair return petition process in specified circumstances?
12 Page 26 of 2543
In-Lieu Agreement Program Considerations
Automatic Pass-Through Rent Increases
Initial Idea Consider allowing certain capital improvements/replacements, property taxes, & government fees and assessments to be passed through to homeowners
Homeowner
Feedback
• 17 homeowners support a homeowner vote on capital improvements prior to starting work • Concerns expressed:
o Need rent increase limit for pass-throughs
o Need definitions of eligible government fees/assessments o Claimed expenditures should be subject to homeowner review o Why don’t park owners budget for capital improvements? Park Owner
Feedback
• Recommendation to allow automatic pass-throughs for capital replacements and insurance cost increases without resident vote
o Requiring resident approval for capital replacement pass-throughs would prevent needed maintenance
o Have a meet and confer instead of a vote (presentation on planned improvements & why) o Many parks are aging and require substantial reinvestment • Open to homeowner approval for new capital improvements o Suggestion to aim for 33% consensus since not all homeowners will participate in vote • Concerns about devaluation of park if property tax increases upon sale are not allowed as a passthrough Decision
Points
a. Which costs can be passed through to homeowners?
b. What should be the approval process (if any) for pass-throughs? c. Whether homeowner votes are required and threshold required Page 27 of 2543 13 In-Lieu Agreement Program Considerations
Other Considerations
Homeowner
Feedback
• Need to know the amount of fees to be passed through to homeowners under the RSO vs. in-lieu agreement
• Seniors and retirees on fixed incomes need to be considered Park Owner
Feedback
• Need for funds to assist tenants with rent and home improvements • Could the in-lieu agreement be indefinite instead of having RSO? 14 Page 28 of 2543
Administrative
Considerations

Rent Stabilization Program In-Lieu Agreement
Program enforcement and outreach efforts are extensive
and in-depth, prioritizing engagement with hands-on
support to residents and park owners and various other
efforts.

An in-lieu agreement would create a contractual
obligation between the City and each park owner
who executes the agreement. City staff would still
need to educate homeowners in parks subject to
the agreement to ensure their understanding of the
components.

Staff anticipates and addresses issues before they
escalate, often through mandatory registration and
compliance monitoring.

City Council will need to determine the level of
City’s oversight of each park owner’s compliance
with the agreement. The City’s level of oversight
drives program costs.

Rent adjustment petitions are allowable. In some
jurisdictions, the number of fair return petitions decrease significantly after the initial years of the program. Also, in some jurisdictions, one or two park owners regularly
submit fair return petitions while the remaining park
owners rarely submit fair return petitions.

The fair return, CPI, and resident petition processes
could be eliminated. Pass-throughs would require
administerial approval.
16 Administrative Overview

• The City has engaged a separate consultant (not RSG) to conduct a comprehensive fee study following the drafting of the Ordinance and/or In-Lieu Agreement. • Once the comprehensive fee study is complete:
• The fee study will be brought to City Council for adoption. • The public will have an opportunity to provide comments on fees. • City Council will adopt the final fee schedule and determine if and to what extent fees will be split between the park owners and homeowners.
• All information presented on the next slide are high-level estimates based on information known at this time and current estimates of anticipated time needed to administer and enforce the Ordinance and/or In-Lieu Agreement. The information is likely to change.

Preliminary Analysis of Program Costs
17 Page 31 of 2543
Program Costs – High-level Preliminary Estimates
Rent Stabilization Program In-Lieu Agreement
Annual Registration Approximately $100 per space per year Approximately $70 per space per year Consumer Price Index
Inflationary Petition Approximately $1,500 per petition N/A Capital Improvement
Petition/ Pass-through
Review
Approximately $17,000 per petition Approximately $8,500 per review Fair Return Petition Approximately $36,000 per petition N/A Homeowner Petition Approximately $9,000 per petition
Notes:
• The estimates presented above are preliminary and intended for illustrative purposes only. • Above estimates assume that City would primarily rely on consultants to administer the program and process rent adjustment petitions.
• Overhead costs are not included in the above estimates. 18 Page 32 of 2543
Questions?
19 Page 33 of 2543
The Ask

1. Confirm direction provided on desired mobile home rent stabilization ordinance components during September 26, 2024 Fall Council Workshop.

2. Provide direction on whether to include an in-lieu agreement option in the mobile home rent stabilization ordinance and the desired components of an agreement.

3. Provide staff direction on next steps to finalize rent stabilization ordinance and/or in-lieu agreement and return to City Council for final approval.

That the City Council:
20 Page 34 of 2543
Excerpt of Slides
Presented at 9.26.24
Fall Council Workshop
21 Page 35 of 2543
Inflationary Rent Limits
Description Establish the maximum percentage by which mobilehome park owners are permitted to increase space rents, usually in a 12-month period Research-Based
Options
Council Direction
a) Limit rent increases to a specific percentage of CPI, up to 100%; b) Establish a maximum rent increase limit; or
c) Use a combination of a rent increase limit with a maximum rent increase cap.

Limit annual inflationary rent increases to 75% of the change in CPI, capped at 5%.
[See page 6 of the Study]
Program Considerations
22 Page 36 of 2543
Program Considerations
Vacancy Control
Description Regulate rent increases when a space is vacated and re-rented Research-Based
Options
Council Direction
a) Include vacancy control with no allowance for increasing rents upon turnover;
b) Include vacancy control with an allowance to increase rents up to a specified percentage or dollar amount outlined in the ordinance; or c) Do not include vacancy control, thereby allowing owners to raise rents to market levels upon turnover.

Include vacancy control with an allowance to increase rents up to 3 to 10% upon turnover (percentage still to be determined by City Council). [See page 7 of the Study] 23 Page 37 of 2543
Program Considerations
Petition Types
Description Establish process for park owners and/or park residents to request rent adjustments in addition to the legally required fair return petition Research-Based
Options
Council Direction
Fair Return Petition by park owners must be allowed under the law to receive a fair return on their investment.
a) Capital Improvement Petitions. For park owners to temporarily charge residents a pass-through for CIP expenses.
b) CPI Petitions (by park owners). To permanently increase rents within the inflationary limits specified in the ordinance. c) Resident Petitions. For residents who believe a rent freeze or decrease is warranted due to a reduction in services or to correct a rent increase above what is allowable in the ordinance.

Include all petition options.
[See page 8 of the Study] 24 Page 38 of 2543
Program Considerations
Petition Fees
Description Impose fees on park owners and/or residents who file rent adjustment petitions to cover administrative costs of processing petitions Research-Based
Options
Council Direction
a) Include the cost of processing petitions in the rental registry fee and do not charge separately for petitions;
b) Charge applicants separately for the cost of processing petitions based on staff and/or consultant hours spent; or
c) Do not charge a fee for petitions.

Charge applicants separately for the cost of processing petitions and allow 50% of owner petition costs to be passed through to the residents.
[See page 10 of the Study] 25 Page 39 of 2543
Program Considerations
Oversight and Petition Authority
Description
Research-Based
Options
Council Direction
Designate the body or individual responsible for reviewing and deciding on petitions
a) Oversight and petitions are the responsibility of a hearing officer; b) Oversight and petitions are the responsibility of a board or commission; or
c) Oversight and petitions are the responsibility of program staff.

Establish program staff as the oversight and petition authority with the support of consultants.
[See page 11 of the Study] 26 Page 40 of 2543
Program Considerations
Appeals
Description Provide an opportunity for either a park owner or resident to challenge a decision on a petition
Research-Based
Options
Council Direction
a) Appeals allowed and processed internally;
b) Appeals allowed and processed by arbitrator/hearing officer; or c) Petition authority decision is final, and no appeals are allowed outside of court.

Allow appeals to be processed internally pursuant to CMC 1.09, per Appeal Procedures defined in Section 1.09.060.
-A person objecting to the administrative decision has ten (10) days to file an Appeal. -The City Clerk shall forward for assignment to the elected hearing officer to set a date. -The Hearing Officer must submit to the City Clerk the decision within 5 days of the hearing. -The Hearing Officer's decision shall be final; no action by the City Council is required. [See page 13 of the Study] 27 Page 41 of 2543
Program Considerations
Registration
Description Ensure that all mobile home parks comply with local housing regulations.

Research-Based
Options
Council Direction
a) Establish an annual rental registry;
b) Establish an initial rental registry and require updates every few years or
c) Do not establish a rental registry.

Require the submission of an initial tenant roll and utilize a CPI petition process and resident noticing to promote program compliance.

Require updated tenant information upon turnover of spaces. [See page 14 of the Study] 28 Page 42 of 2543
Program Considerations
Registration Fees
Description Impose fees to cover the administrative costs associated with managing the program, maintaining the rental registry (if applicable), and conducting outreach to property owners and residents about their rights and responsibilities
Research-Based
Options
Council Direction
a) Collect a registration fee and do not allow the fee to be passed through to residents;
b) Collect a registration fee and allow all or a portion of the fee to be passed through to residents; or
c) Do not collect a registration fee.

Establish an annual registration fee to cover administrative costs to enforce program compliance. Allow 50% of fees to be passed through to residents.
[See page 16 of the Study] 29 Page 43 of 2543
Program Considerations
Administrative Penalties
Description Provide for penalties to deter violations and encourage both park owners and residents to adhere to the rules established by the jurisdiction
Research-Based
Options
Council Direction
a. Implement a fixed fee for violations of the ordinance; b. Implement a penalty structure that escalates with each incidence of violation; or
c. Do not incorporate explicit penalties in the ordinance and instead defer to the existing administrative citation process set forth in the municipal code.

Do not incorporate explicit penalties in the ordinance and instead defer to the existing administrative citation process set forth in the municipal code. Require damages to be paid at three times (3x) the difference to residents in instances of rent overcharges. [See page 17 of the Study] 30 Page 44 of 2543
Agenda Item 5.1
Correspondence Received Exhibit

G O L D E N S T A T E M A N U F A C T U R E D – H O M E O W N E R S L E A G U E June 10, 2025
Hon. Jim Steiner, Mayor
Councilmember Jacque Casillas
Councilmember Tony Daddario
Councilmember Tom Richins
Councilmember Wes Speake
City of Corona, City Hall
400 S. Vicentia Avenue
Corona, California 92882
Re: June 18, 2025 Agenda Item: Mobilehome Rent Stabilization Ordinance and Program Study Dear Mayor Steiner and Councilmembers:

The undersigned is corporate counsel for the Golden State Manufactured – Home Owners League, Inc. (GSMOL), a state-wide organization of manufactured homeowners and residents formed in 1962. GSMOL is active in both State and local legislatures and the courts, and routinely advocates on issues having a significant impact upon the rights or property interests of its members, many of whom are seniors, immigrants, or families on low or fixed incomes. Since 1986 I have specialized in representing mobilehome residents, including in connection with the negotiation, drafting and implementation of Mobilehome Rent Stabilization Ordinances (RSO) throughout California.

Background
One of GSMOL’s most significant areas of involvement over the decades has been in connection with rents and local rent stabilization. Because mobilehome rent regulation is a purely local issue, and there is no form of State rent regulation, it is left to local governments to protect the interests of mobile and manufactured home residents within their jurisdictions. Currently over 100 California cities and counties have enacted some form of mobilehome rent stabilization. These ordinances note the large investment mobilehome owners have in their homes; often their most valuable asset. With attached accessory structures and landscaping improvements, their homes comprise a significant “sunk cost” investment, and contrary to some opinion are not “depreciating assets”. Once attached to land, they have the same equity characteristics of real property. A mobilehome located on a landscaped space within a park with common area improvements, streets and utility hookups has a valuable “site value” equity component which has been consistently recognized by the courts, and the resale market. The “captive” nature of the mobilehome market is particularly significant. When rents are raised, mobilehome owners cannot simply move to a better rental situation. They live in what are more accurately described as “immobilehomes” in “immobilehome” parks, and are captive to predatory rent practices that have the effect of destroying the equity in their homes. For every $100.00 in increased rent in most metropolitan areas, homeowner equity decreases by $10,000.00. Without local regulation, there is no protection from rising rents, and the only option for many homeowners who cannot afford rent increases is to surrender the home back to the lender, or abandon it to the park owner. Many residents have a large mortgage which limits their options. As the Ninth Circuit Federal Court famously pronounced in the case of Guggenheim v.

City of Goleta: “The park owner has the mobilehome resident over a barrel”. 14802 Beach Blvd. La Mirada CA 90638 TEL: (714) 826-4071 FAX: (714) 826-2401

Hon. Jim Steiner, Mayor
City Councilmembers
City of Corona
June 10, 2025

Because there is no properly operating market system, but instead a captive market akin to a monopoly, over 100 local governments have acted over the years to protect their mobilehome residents from excessive rent increases. We urge Corona to similarly protect both its residents, and the valuable affordable housing that mobilehome parks provide within the City.

On behalf of our local GSMOL members residing in Corona, GSMOL submits there is sound legal authority for enactment of mobilehome rent stabilization, which is both constitutional and viable.

Whenever mobilehome rent regulation is proposed, there is typical opposition from park owners threatening litigation, as well as possible opposition from others who may not understand the limited form of rent stabilization being proposed. This was likely the case in each of the jurisdictions which ultimately enacted RSO protection. It is of course prudent for any jurisdiction to analyze the existing law to determine if these threats or risks have merit. But in the end, over 100 local jurisdictions determined that protection of their citizens merited action, and that they should not deny protection based upon mere threats alone. We are confident that when you review the relevant legal authority and consider how other local jurisdictions have acted, you shall be convinced that proceeding with an ordinance is legally permissible, as justified by the facts. We urge the Council to provide direction to proceed with consideration of an RSO, and GSMOL shall make its resources available to assist with and participate in this process, however possible.

The Need for Local Regulation
Many months ago, this Council began consideration of mobilehome rent regulation options.

The Mobilehome Park Rent Stabilization Ordinance Study (“the Study”) prepared by RSG correctly notes the history of California mobilehome RSO in the “Background” section. GSMOL is informed that there are 14 parks containing hundreds of spaces within the City limits, representing a sizeable number of vulnerable citizens. These homeowners face mounting rents which challenge the affordability of their homes. During the last 5 years, rent increases have averaged 5.1% per year, well above the current cost of living (CPI) or COLA indexes. The preservation of affordable housing in Corona merits adoption of a regulation which ensures rent stability, while providing park owners with an indexed inflation adjusted investment (see below) that provides for a fair return.

In considering how to protect its mobilehome residents, the Council should be guided by what other local jurisdictions have already enacted, and how they have addressed the various component issues within their RSOs. GSMOL recommends the following be considered when drafting your RSO provisions:

Essential Ordinance (RSO) Components
Mobilehome RSOs standardly address the following subject areas:

Intents and Purposes Introduction- Appearing at the beginning of the RSO, these paragraphs set the stage for the regulation, describing the nature of the housing market, the need to protect and maintain affordable housing, the nature of recent rent increases, the immobility and vulnerability of the residents and the captive nature of the market. It is common that affordable housing goals or standards stated in existing City policies or elements be referred to or described here. A rent study is always a useful first step to establish the unregulated rental history which prompts adoption of the regulation.

Hon. Jim Steiner, Mayor
City Councilmembers
City of Corona
June 10, 2025

Annual Allowable Rent Adjustments- An annual increase amount should be allowed without need of a hearing. 75% of the increase in the Consumer Price Index (CPI) is the most commonly used adjustment percentage, and is found in 26 of the 59 local jurisdictions which use a percentage multiplier to set annual rent increases. 12 other jurisdictions index below that amount, varying from 50-65% of CPI. Some jurisdictions contain a minimum (i.e. “floor”) and maximum (i.e. “ceiling”) for annual adjustments. A majority of the jurisdictions using a “ceiling” cap rents at 5%, with some at 7%. A standard “floor” is 3%. Thus, the most common indexing uses no more than 75% of CPI, with the most common “floor”, if used, being 3% and the most common ceiling no more than 7%.

Transfer on Sale Adjustments- Commonly referred to as “vacancy decontrol”, this is a critical part of any RSO.

As mentioned above, “paired analysis” shows that for every $100.00 that rent increases at time of resale in most metropolitan areas, homeowner equity decreases by $10,000.00. It is thus important to limit resale rent adjustments if homeowner equity is to be protected. While some RSO do not allow for any resale adjustments (i.e. full “vacancy control”), GSMOL advocates for allowing partial “vacancy decontrol” at time of resale. A reasonable percentage adopted by some recently enacted RSO is 5%. Variable or phased in approaches have also been considered; i.e. 7% for the first resale, 5% for a subsequent resale within 3 years, etc.

Fair Return Procedure/Formula- To be constitutional the RSO must provide a procedure whereby a park owner can petition the City to prove that a larger rent increase above and beyond the allowable annual adjustment is required to maintain a “fair return”. An administrative hearing is held. Most RSO use an objective math formula to determine fair return known as the Maintenance of Net Operating Income (MNOI) formula. Courts have recognized this as a fair and reasonable approach to fair return. The formula compares the park owner’s net operating income (NOI) in a chosen “base year” before the RSO was adopted, to the NOI in the most recently completed “current year” of the park owner’s application, and then adjusts for some percentage of inflation between the two years. In this way the park owner obtains reasonable growth in its income. Appellate case decisions have upheld MNOI inflation indexing as low as 40% of the CPI increase. Cases have also upheld the MNOI formula as a reasonably constructed and constitutionally permitted standard for calculating fair return. The park owner should provide full documentation of both income and expenses, including a rent roll and ledger.

Capital Expenditure ‘Pass Through’ Procedure- A minority of RSO include a streamlined application and hearing process to consider an increase only for the limited purpose of reimbursing a park owner for the cost of proven capital replacement expenditures for existing infrastructure (any new capital improvements should always require a majority approval vote of the homeowners). This procedure requires that the replacement or repair of an existing thing must be completed, and that any relevant documentation be provided to both the residents and the City to verify the work. A hearing is held to consider only whether to grant the capital expenditure pass through, which if granted is billed separate from base rent for a limited time until fully compensated. But most RSO jurisdictions deem capital expenditures to be part of an MNOI fair return analysis as an includable expense item, and require a full hearing where the park owner must open its books and prove all of its income and expenses.

Fair Return Hearing Procedure- This must be spelled out in detail.

Hearing Officers or Rent Commission- RSO either use a process where a single hearing officer is retained to hear a fair return application, or a rent “Commission” or “Board” of volunteers is chosen for that task.

Administrative Fees- To defer the cost of creating and administering the RSO, its provisions should provide that an annual fee be paid by each park owner to the City, with a portion thereof being passed on to residents of each covered mobilehome space. It is common that park owners and residents share in this cost. However I am aware of no RSO which additionally requires homeowners to pay any portion of a rent application fee; to do so would place an unfair burden on homeowners and risk that they would be unable to meet a financial threshold required to convene a hearing. The park owner should always be solely liable to pay any required application fee.

Hon. Jim Steiner, Mayor
City Councilmembers
City of Corona
June 10, 2025

There are other important provisions which should be included, such as enforcement language, which can be found by reviewing existing RSO. GSMOL would recommend using the ordinance enacted by the City of Marina within the past decade as a template for what you might draft. It is a fair and reasonable regulation which has never been challenged by park owners. Humboldt County also passed an RSO in recent years which closely resembles the Marina model. As the Study notes, this need not be considered an undertaking of “first impression”. The City does not need not “re-invent the wheel” when so many dozens of RSO already exist.

There is plenty of existing precedent upon which you can, and should, rely.

Finally, it is important to note that alternatives utilized in a few jurisdictions, such as a Memorandum of Understanding (MOU) or a rent “Accord”, are typically less effective and more complicated to draft and enforce.

For example, an MOU, which is essentially a contract between the City and the park owners, requires that all park owners within the City voluntarily agree to its terms. Otherwise it is not effective to solve the housing affordability problem. City oversight is required to ensure a properly drafted and fair MOU is ultimately adopted; my own experience in two jurisdictions which adopted an MOU was a negotiation that lasted many months. If the MOU terms are breached, the City is obligated to enforce the contract on behalf of the homeowners, who are the “real parties in interest”. Rather than a law, it is perceived as a contract by park owners, which may or may not be enforced, and thus more easily breached. Questions such as whether the MOU also binds non-signatory subsequent park owners, or whether homeowners have standing to seek enforcement of its terms, may require judicial intervention. Enacting a binding regulation as part of a City’s Municipal Code has proven to be the overwhelming, and most effective, way to regulate mobilehome rents and preserve affordable housing in mobilehome parks.

No matter what you might otherwise be told, mobilehome rent stabilization is constitutionally permissible. There is a substantial body of both State and Federal case law to support this conclusion. The key to creating an enforceable law, and to avoiding litigation, is to draft a reasonable regulation based upon a rational basis, and to include percentages and amounts which achieve the twin goals of providing park owners with a fair return, while protecting residents from exorbitant and unfair rent increases.

Thank you for your kind attention and consideration of the above. We look forward to the City adopting this protection for its vulnerable citizens. GSMOL requests that this letter be made a part of the Agenda packet for June 18th. Please do not hesitate to contact me should you have any comments, questions or requests.

Very Truly Yours,
Bruce E. Stanton,
Corporate Counsel
cc: Board of Directors, GSMOL
Corona Mobilehome Residents

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1 City of Corona
City Council Minutes
Wednesday, June 4, 2025, 6:00 p.m.

Closed Session- Council Board Room
Council Present: Jim Steiner, Jacque Casillas, Tony Daddario, Tom Richins, Wes Speake
_____________________________________________________________________

1. CONVENE CLOSED SESSION
Closed Session convened at 4:39 p.m. for the purposes listed below. Present were Mayor Steiner, Vice Mayor Casillas, Council Member Daddario, Council Member Richins, and Council Member Speake. Closed Session adjourned at 5:20 p.m.

1.1 CONFERENCE WITH REAL PROPERTY NEGOTIATORS
Pursuant to Government Code Section 54956.8
Property: 009-620-196, Corona Municipal Airport
Agency Negotiator: Jacob Ellis, City Manager
Negotiating Party: Federal Aviation Administration
Under Negotiation: Price and Terms of Payment

1.2 CONFERENCEWITH REAL PROPERTY NEGOTIATORS
Pursuant to Government Code Section 54956.8
Property: 1045 Auburndale Street
Agency Negotiator: Jacob Ellis, City Manager
Negotiating Party: Audrie Echnoz, Corona-Norco YMCA
Under Negotiation: Price & Terms of Payment

2. INVOCATION - Elijah Coombes, Grace Baptist Church
The Invocation was led by Elijah Coombes.

3. PLEDGE OF ALLEGIANCE
The Pledge of Allegiance was led by Elijah Coombes.

4. CONVENE OPEN SESSION
Mayor Steiner called the meeting to order at 6:01 p.m.

5. PROCLAMATIONS/RECOGNITIONS/PRESENTATIONS
None.

6. CONSENT CALENDAR

DRAFT
2 The Consent Calendar was approved with the exception of items 6.5 through 6.7 and

6.9. Moved by: Wes Speake
Seconded by: Tom Richins
Aye (5): Jim Steiner, Jacque Casillas, Tony Daddario, Tom Richins, and Wes Speake MotionAPPROVED (5 to 0)

6.1 MINUTES - SPECIAL MEETING MAY 21, 2025
THE MEETING MINUTES WERE APPROVED.

Approval of Minutes for the City Council, Successor Agency to the Redevelopment Agency of the City of Corona, Corona Public Financing Authority, Corona Utility Authority, Corona Housing Authority Special Meeting of May 21, 2025

6.2 MINUTES - CITY COUNCIL MEETING MAY 21, 2025
THE MEETING MINUTES WERE APPROVED.

Approval of Minutes for the City Council, Successor Agency to the Redevelopment Agency of the City of Corona, Corona Public Financing Authority, Corona Utility Authority, Corona Housing Authority City Council Meeting of May 21, 2025

6.3 CITY COUNCIL ADOPTION OF ORDINANCE NO. 3417, SECOND READING

OF AN ORDINANCE OF THE CITY OF CORONA, CALIFORNIA
THIS ORDINANCE WAS ADOPTED.

6.4 CITY COUNCIL ADOPTION OF ORDINANCE NO. 3418, SECOND READING

OF AN ORDINANCE OF THE CITY OF CORONA, CALIFORNIA
THIS ORDINANCE WAS ADOPTED.

6.5 FIFTH AMENDMENT TO THE AGREEMENT FOR REMOVAL,

TRANSPORTATION AND DISPOSAL OF CLASS B BIOSOLIDS WITH
SYNAGRO-WWT, INC. FOR BIOSOLIDS END USE
Council Member Daddario had inquiries. Tom Moody, Utilities Director, Jacob Ellis, City Manager, and Dean Derleth, City Attorney/LRM Director, provided clarification.

Joe Morgan, resident, addressed the Council to express his concerns with the proposed item.

Moved by: Tony Daddario
Seconded by: Wes Speake
That the City Council:
a. Authorize the City Manager, or his designee, to execute the Fifth Amendment to the Agreement for Removal, Transportation and Disposal of Class B Biosolids with Synagro-WWT, Inc. of Baltimore, MD, in an

DRAFT
3 amount not to exceed $1,800,000 per fiscal year for Class B Biosolids End Use through June 30, 2027.
b. Authorize the City Manager, or his designee, to execute the Fifth Amendment to the Agreement for Removal, Transportation and Disposal of Class B Biosolids with Synagro-WWT, Inc. including the ability to negotiate and execute any non-substantive changes and extensions, purchase orders and amendments up to the 10% of the original contract amount.

That the Corona Utility Authority review, ratify, and to the extent necessary, direct that the City Council take the above actions.

Aye (5): Jim Steiner, Jacque Casillas, Tony Daddario, Tom Richins, and Wes Speake
MotionAPPROVED (5 to 0)

6.6 FIRST AMENDED AND RESTATED SCHOOL RESOURCE OFFICER

AGREEMENT WITH CORONA-NORCO UNIFIED SCHOOL DISTRICT, VALID THROUGH 2030
The Council provided comments and had inquiries. Police Chief Newman, Jacob Ellis, City Manager, and Dean Derleth, City Attorney/LRM Director, provided clarification.

Council Member Daddario made a motion, seconded by Council Member Speake, for a one-year term, and that motion was defeated.

Council Member Richins made a motion, seconded by Vice Mayor Casillas, with the clarification provided by Mr. Ellis, for a 60-day term and to bring this item back to a future Council meeting, and that motion was approved.

Moved by: Tom Richins
Seconded by: Jacque Casillas
Aye (4): Jim Steiner, Jacque Casillas, Tom Richins, and Wes Speake Nay (1): Tony Daddario
MotionAPPROVED (4 to 1)

6.7 CITY LIABILITY, PROPERTY, AND WORKERS’ COMPENSATION INSURANCE POLICIES FOR FISCAL YEAR 2026
Council Member Daddario had inquiries and Dean Derleth, City Attorney/LRM Director, provided clarification.

Moved by: Tony Daddario
Seconded by: Wes Speake

DRAFT
4 That the City Council:
a.General Liability. Authorize the renewal of the City’s excess general liability insurance policy through the Public Risk Innovation, Solutions and Management JPA for Fiscal Year 2026 with an estimated maximum premium amount of up to $2,916,000, coverage of $25M per occurrence, and a self-insured retention of $1M per occurrence.
b. Workers’ Compensation. Authorize the renewal of the City’s excess workers’ compensation insurance policy through the Public Risk Innovation, Solutions and Management JPA for Fiscal Year 2026, with an estimated maximum premium amount of up to $700,000. Coverage is equal to the statutory requirements for workers’ compensation and $5M per occurrence for employer’s liability, and an SIR of $1M per occurrence. The premium is based on estimated payroll and is subject to adjustment based on actual payroll.
c.Property. Authorize the renewal of the City’s property insurance with Alliant’s Property Insurance Program for Fiscal Year 2026, with an estimated maximum premium amount of up to $1,544,047, coverage for both real and personal property valued at approximately $807,192,830 (up from $760,215,998 last year), a coverage limit of $1B per occurrence (subject to policy exclusions and other sub-limits, including a $50K all-risk deductible for most buildings and facilities, a $10K deductible for vehicles off-premises and on-premises, a $500K deductible for wildfires, and a $5M deductible for the biosolids facility), continuation of coverage for vehicles at actual cash value (as opposed to replacement value), and continuation of coverage off-premises only for vehicles with a value of $100,000 or more.
d. Crime. Authorize the renewal of the City’s Master Government Crime insurance through the Public Risk Innovation, Solutions and Management JPA with the National Union Fire Insurance Company of Pittsburgh, PA, also known as AIG (“AIG”) for Fiscal Year 2026, with an estimated maximum premium amount of up to $19,000, coverage of $10M per occurrence, and a deductible of $2,500 per occurrence.
e.Airport. Authorize the renewal of the City’s Airport Liability insurance with the Starr Indemnity & Liability Company for Fiscal Year 2026, with an estimated maximum premium amount of up to $5,359, coverage of $25M per occurrence, and no deductible or SIR.
f. Enhanced Pollution. Authorize the renewal of the City’s enhanced pollution liability insurance with Ironshore Specialty Insurance Company for Fiscal Year 2026, with an estimated premium of $122,491, coverage of $10M per pollution condition, and an SIR of $250,000 per pollution condition. g. Deadly Weapon Response Program. Authorize the renewal of Alliant’s Deadly Weapon Response Program coverage, underwritten by Lloyd’s of London, for Fiscal Year 2026, with an estimated maximum premium amount of up to $9,133 and coverage of $500,000 and sub-limit coverage of $250,000 for various incident related services and coverages.
h.Cyber Liability. Authorize the purchase of enhanced cyber liability coverage with Public Risk Innovation, Solutions and Management JPA for Fiscal Year

DRAFT
5 2026, with an estimated maximum premium amount of up to $187,000 and coverage of $18M (policy limit/aggregate subject to the pool aggregate of $115M), including various sublimits (most notable of which are now much larger $7.75M extortion and data recovery cost sublimits). For several years, the cost of enhanced cyber liability insurance had been cost prohibitive, so we relied on the coverage provided under Alliant’s Property Insurance Program. However, last year the cost and quality of cyber liability coverage improved, and the City once again purchased a standalone cyber coverage policy.
i.Marketing Process. Pursuant to Corona Municipal Code Section

3.08.140(E), find that it is in the best interest of the City and its administrative operations to dispense with the City’s normal formal competitive bidding process and authorize the above purchases using Alliant’s competitive process, since the City’s competitive bidding process is not amenable to the purchase of these insurance policies and Alliant’s competitive process is a thorough and competitive which is an appropriate alternative to the City’s formal public competitive bidding procedures.
j.Earthquake & Flood. Concur with staff recommendation not to purchase earthquake and flood insurance because it is not available at a reasonable cost. k.Implementation Actions. Authorize staff to take all other actions and execute all documents necessary to implement these recommendations, including any minor adjustments which are consistent with these recommendations and within the finally adopted Fiscal Year 2026 budgets for the Workers Compensation Fund 683 and the General Liability Fund 687.

That the Corona Utility Authority review, ratify and to the extent necessary, direct the City Council to take the above actions.

Aye (5): Jim Steiner, Jacque Casillas, Tony Daddario, Tom Richins, and Wes Speake
MotionAPPROVED (5 to 0)

6.8 WESTERN RIVERSIDE COUNTY REGIONAL WASTEWATER AUTHORITY FISCAL YEAR 2026 BUDGET
THIS ITEM WAS APPROVED.

Moved by: Wes Speake
Seconded by: Tom Richins
That the City Council approve the proposed Western Riverside County Regional Wastewater Authority Fiscal Year 2026 budget.

That the Corona Utility Authority review, ratify, and to the extent necessary, direct the City Council to take the above actions.

MotionAPPROVED

6.9 ADOPT THE PROPOSED SHORT-RANGE TRANSIT PLAN FOR FISCAL YEARS 2025/26 THROUGH 2027/28

DRAFT
6 Sudesh Paul, Transit Program Manager, provided a presentation.

Moved by: Jacque Casillas
Seconded by: Tom Richins
That the City Council:
a. Adopt the proposed Short-Range Transit Plan for Fiscal Year 2026 through 2028.
b. Direct staff to submit the Short-Range Transit Plan for Fiscal Year 2026 through 2028 to the Riverside County Transportation Commission for approval.
c. Authorize revisions to the Fiscal Year 2026 Transit Service Fund revenue and expense budget following approval of the Fiscal Year 2026 through 2028 Short-Range Transit Plan by the Riverside County Transportation Commission.
d. Authorize an appropriation of $100,000 from the Transit Service Fund 577 to the COA – Citywide Bus Stop Improvements, Capital Improvement Project No. FC-2022-19 for Fiscal Year 2026.

Aye (5): Jim Steiner, Jacque Casillas, Tony Daddario, Tom Richins, and Wes Speake
MotionAPPROVED (5 to 0)

6.10 RESOLUTION REVISING THE CITYWIDE MASTER FEE RECOVERY

SCHEDULE TO AMEND THE SPORTS FIELDS HOURLY RATES AND
ESTABLISH RENTAL RATES FOR COUNCIL CHAMBERS AND MULTIPURPOSE ROOM FOR GOVERNMENT AGENCY USE; AMENDMENT TO THE

PARKS & RECREATION MASTER PLAN
THIS RESOLUTION WAS ADOPTED.

That the City Council:
a. Adopt Resolution No. 2025-040, revising the Citywide Master Fee Recovery Schedule to amend the Sports Field hourly rates and establish rental rates for the Council Chambers and Multi-Purpose Room for government agency use.
b. Approve an amendment to the Parks & Recreation Master Plan to create a new service category for Everyone Plays Youth Sports Groups.

DRAFT
7 c. Authorize an estimated revenue increase in the amount of $85,000 in the General Fund 110 for FY 2026.

6.11 RESOLUTION APPOINTING THE CITY’S REPRESENTATIVES AND

ALTERNATES TO THE WESTERN RIVERSIDE COUNTY REGIONAL

WASTEWATER AUTHORITY BOARD OF DIRECTORS AND EXECUTIVE
COMMITTEE AND TO REPEAL RESOLUTION NO. 2022-018
THIS RESOLUTION WAS ADOPTED.

That the City Council adopt Resolution No. 2025-036, appointing the City’s representatives and alternates to the Western Riverside County Regional Wastewater Authority Board of Directors and Executive Committee and repealing Resolution No. 2022-018.

That the Corona Utility Authority review, ratify, and to the extent necessary, direct that the City Council take the above actions.

7. COMMUNICATIONS FROM THE PUBLIC
None.

8. PUBLIC HEARINGS

8.1 RESOLUTION CONFIRMING AND AUTHORIZING THE PLACEMENT OF

DELINQUENT SOLID WASTE CHARGES ON THE PROPERTY TAX ROLL Mayor Steiner opened the Public Hearing. Sylvia Edwards, City Clerk, stated there was no correspondence received from the public. Mayor Steiner closed the Public Hearing.

Vice Mayor Casillas provided comments.

Moved by: Tony Daddario
Seconded by: Wes Speake
That the City Council:
a. Conduct a public hearing and accept public testimony regarding the delinquent residential solid waste collection charges proposed for placement on the Fiscal Year 2025-26 Riverside County property tax roll. b. Adopt Resolution No. 2025-077, confirming the report of delinquent solid waste charges and authorizing their collection on the Fiscal Year 2025-26 Property Tax Roll.
c. Authorize the City Manager or his designee to execute all necessary documents and take further actions to implement the placement of these charges.

Aye (4): Jim Steiner, Tony Daddario, Tom Richins, and Wes Speake Nay (1): Jacque Casillas

DRAFT
8 MotionAPPROVED (4 to 1)

9. ADMINISTRATIVE REPORTS

9.1 ADOPTION OF THE CITY OF CORONA PROPOSED BUDGET FOR FISCAL YEAR 2026, AMENDMENTS TO THE FISCAL YEAR 2025 ADOPTED

BUDGET, AND RELATED CONTRACT AMENDMENTS, CHANGE ORDERS,

AND PURCHASE ORDERS
Julie Kennicutt, Deputy Finance Director, and Kim Sitton, Finance Director, provided a report.

The Council provided comments and had inquiries.

Ms. Kennicutt, Jacob Ellis, City Manager, and Donna Finch, Community Services Director, provided clarification.

Council Member Daddario made a motion for recommended action "a" to pause the building of pickleball courts at El Cerrito Park until the end of the fiscal year and bring this item back to a future Council meeting.

The Council unanimously approved recommended actions b through h.

Moved by: Tony Daddario
Seconded by: Tom Richins
That the:
a. City Council Adopt Resolution No. 2025-071, adopting the City’s budget for Fiscal Year 2026, Revised Budget Items, and General Fund Budget Policies.
b. Corona Utility Authority adopts Resolution No. 2025-072, adopting said Authority’s budget for Fiscal Year 2026, Revised Budget Items, and Budget Policies.
c. Corona Public Finance Authority adopts Resolution No. 2025-073, adopting said Authority’s budget for Fiscal Year 2026, Revised Budget Items, and Budget Policies.
d. Corona Housing Authority adopts Resolution No. 2025-074, adopting said Authority’s budget for Fiscal Year 2026, Revised Budget Items, and Budget Policies.
e. City Council adopts Resolution No. 2025-075, adopting the annual appropriations limit for Fiscal Year 2026 and selecting the population and inflation factors accordingly.

DRAFT
9 f. City Council and Corona Utility Authority approve the following additional budget items to be included in the Fiscal Year 2026 Adopted Budget:
i. Authorize an appropriation in the amount of $175,000 from the General Fund 110 Designated Revenue Reserve (Public, Educational and Government (PEG)) to the City Broadcast System Overhaul, Capital Improvement Project No. TC-2022-02.
ii. Authorize an appropriation in the total amount of $1,733,984 across multiple funds (see Analysis section) for Other Post Employment Benefits (OPEB) erroneously omitted from the proposed budget. iii. Authorize an appropriation reduction in the amount of $41,409 from the Residential Refuse/Recycling Fund 260 and a corresponding appropriation by the same amount in the Water Utility Fund 570 for the Utility Billing and Administration Manager Reallocation. iv. Authorize an appropriation in the amount of $40,000 from the Airport Fund 275 to conduct a flight check for various equipment. v. Authorize an appropriation reduction in the amount of $500,000 from the Road Maintenance and Rehabilitation Act (RMRA) Fund 221 and a corresponding appropriation in the same amount from the Measure A Fund 227 for the Pavement Maintenance and Resurfacing, Operations and Maintenance Project No. 69220.
vi. Authorize an appropriation reduction in the amount of $300,000 from the Road Maintenance and Rehabilitation Act (RMRA) Fund 221 and a corresponding appropriation in the same amount from the Measure A Fund 227 for the Miscellaneous Repair and Replacements of Traffic Signals, Operations and Maintenance Project No. 70940.
vii. Authorize an estimated revenue increase in the amount of $200,000 in the General Fund 110 to account for Waste Management’s annual contribution towards the City beautification program. The estimate was erroneously omitted from the proposed budget.
viii. Authorize one (1) full-time Facilities Supervisor in the Community Services Department, and an appropriation in the amount of $33,988 in the General Fund 110. Recurring costs will be funded 20% in the salary/benefits budget and 80% through Capital Improvement

DRAFT
10 Projects. The total recurring budget impact for the position is approximately $169,938.
g. City Council and Corona Utility Authority approve the following contract amendments, change orders, and purchase orders for Fiscal Year 2026:
i. Authorize the City Manager, or his designee, to issue purchase orders for the attached list (Exhibit 8) of Information Technology software renewals for Fiscal Year 2026 including any non-substantive extensions, change orders, purchase orders, and amendments up to the lesser of either $100,000 or 10% of the original contract amount as authorized by Corona Municipal Code Section 3.08.070(I). i. Authorize the Second Amendment to the Professional Services Agreement with South Coast Automation, Inc., for SCADA
Integration Services to extend the term for an additional one-year period at the rates set forth therein and with a total compensation amount of $700,000 annually.
• Authorize the City Manager, or his designee, to negotiate and execute non-substantive extensions, change orders,
and amendments up to the amount authorized by Corona
Municipal Code Section 3.08.070(I).
• Make a determination under Corona Municipal Code
Section 3.08.140(E) that competitive bidding is not
required for this purchase based upon the reasons
provided in this agenda report.
 Authorize the issuance of a purchase order in the amount of $175,000, annually, through June 30, 2028 to Ewing Irrigation Products, Inc. for the purchase of irrigation-related materials for parks and special districts.
• Authorize the City Manager, or his designee, to negotiate and execute non-substantive extensions, change orders,
amendments, and additional purchase orders up to the
amount permitted under Corona Municipal Code Section

3.08.080(I), which is equivalent to 10% of the contract value or $17,500
 Authorize an extension of the Maintenance/General Services Agreement with National Construction Rentals, Inc. for as needed temporary fencing and portable restroom rental
services.
• Authorize the City Manager, or his designee, to execute the Second Amendment to the Maintenance/General
Service Agreement to extend the term through June 30,

DRAFT
11 2027, at the rates set forth therein and with a total compensation of $175,000 annually, including any nonsubstantive extensions, change orders, purchase orders, and amendments up to the amount authorized by Corona
Municipal Code Section 3.08.060 (I), which is equivalent to 10% or $17,500.
• Authorize the City Manager, or his designee, to issue a Purchase Order to National Construction Rentals, Inc., in the amount of $175,000.
h. City Council and Corona Utility Authority approve the following budget amendments for Fiscal Year 2025:
i. Authorize a continuing appropriation in the amount not to exceed $2,586,405 in the Measure X Fund 120 from Fiscal Year 2025 to Fiscal Year 2026 for Homeless program activities. The final amount will be determined based on the fiscal year-end balance. ii. Authorize a continuing appropriation in the amount not to exceed $304,576 in the Measure X Fund 120 from Fiscal Year 2025 to Fiscal Year 2026 for program expenditures related to the City Brand Implementation in the Communications Division. The final amount will be determined based on the fiscal year-end balance.
iii. Authorize a continuing appropriation in the amount not to exceed $172,950 in the Measure X Fund 120 from Fiscal Year 2025 to Fiscal Year 2026 for Professional and Contractual Services in Economic Development. The final amount will be determined based on the fiscal year-end balance.
iv. Authorize a continuing appropriation in the amount not to exceed $1,376,862 ($509,241 in the General Fund 110 and $867,621 in the Measure X Fund 120) from Fiscal Year 2025 to Fiscal Year 2026 for multiple items in the Fire Department and Information Technology Department. The final amount will be determined based on the fiscal year-end balance.
v. Authorize a continuing appropriation in the amount not to exceed $16,335 in the Measure X Fund 120 from Fiscal Year 2025 to Fiscal Year 2026 for the Lobby Refresh project in the Planning and Development Department. The final amount will be determined based on the fiscal year-end balance.

DRAFT
12 vi. Authorize a budgetary transfer in the amount of $30,000 from the Animal Control Fire Alarm System Capital Improvement Project No.

FC-2025-02 to the Police Department Locker Room/Facility Expansion Capital Improvement Project No. FC-2024-03 within the Measure X Fund 120.
vii. Authorize an appropriation in the amount of $300,000 from the Water Utility Fund 570 to the Waterline Infrastructure Operating and Maintenance Project No. 71930.
i. Adopt Resolution No. 2025-076, approving the City of Corona Position Library and Compensation Plan and repealing all prior Plans, including Resolution No. 2025-038, effective June 14, 2025.

Aye (3): Jacque Casillas, Tony Daddario, and Tom Richins Nay (2): Jim Steiner, and Wes Speake
MotionAPPROVED (3 to 2)

10. LEGISLATIVE MATTERS

10.1 ORDINANCE AMENDING CHAPTER 3.08 OF THE CORONA MUNICIPAL CODE TO UPDATE THE CITY’S PURCHASING REGULATIONS
Kim Sitton, Finance Director, provided a report.

The Council provided comments and had inquiries. Ms. Sitton, Jacob Ellis, City Manager, and Dean Derleth, City Attorney/LRM Director, provided clarification.

Joe Morgan, resident, addressed the Council and provided comments on the proposed item.

Vice Mayor Casillas made a motion for Option 2 with a quarterly report and 30- day limit on delegation of authorization.

Moved by: Jacque Casillas
Seconded by: Wes Speake
That the City Council introduce, by title only, and waive full reading of consideration of Ordinance No. 3419, first reading of an ordinance amending Chapter 3.08 of the Corona Municipal Code to update the City’s purchasing regulations.

Aye (5): Jim Steiner, Jacque Casillas, Tony Daddario, Tom Richins, and Wes Speake
MotionAPPROVED (5 to 0)

DRAFT
13 11. REPORTS FROM BOARDS AND COMMISSIONS

11.1 Library Board of Trustees
None.

11.2 Planning & Housing Commission

11.2.a RESUBMITTED TENTATIVE TRACT MAP 36864 TO SUBDIVIDE 2.09

ACRES INTO SEVEN LOTS FOR RESIDENTIAL DEVELOPMENT

LOCATED ON THE SOUTH SIDE OF CORONA AVENUE AND WEST OF
INTERSTATE 15 IN THE R-1-7.2 SINGLE FAMILY RESIDENTIAL ZONE. (APPLICANT: FATHI MANASRAH)
Moved by: Wes Speake
Seconded by: Jacque Casillas
That the City Council approve the Resubmitted Tentative Tract Map 36864 based on the findings and conditions of approval as recommended by the Planning and Housing Commission.

Aye (5): Jim Steiner, Jacque Casillas, Tony Daddario, Tom Richins, and Wes Speake
MotionAPPROVED (5 to 0)

11.3 Parks & Recreation Commission
None.

11.4 Regional Meetings

11.4.a UPDATE FROM MAYOR JIM STEINER ON THE RIVERSIDE
TRANSITAGENCY (RTA) BOARD MEETING OF MAY 22, 2024
Mayor Steiner provided an update.

11.4.b UPDATE FROM VICE MAYOR JACQUE CASILLAS ON THE WESTERN

RIVERSIDE COUNCIL OF GOVERNMENTS (WRCOG) MEETING OF JUNE 2, 2025
Vice Mayor Casillas provided an update.

11.4.c UPDATE FROM COUNCIL MEMBER WES SPEAKE ON THE OWOW STEERING COMMITTEE MEETING OF MAY 22, 2025
Council Member Speake provided an update.

11.4.d UPDATE FROM COUNCIL MEMBER WES SPEAKE ON THE ORANGE COUNTY TRANSPORTATION AUTHORITY STATE ROUTE 91 ADVISORY COMMITTEE MEETING OF MAY 29, 2025
Council Member Speake provided an update.

12. CITY ATTORNEY'S REPORTS AND COMMENTS
None.

DRAFT
14 13. CITY MANAGER'S REPORTS AND COMMENTS
None.

14. CITY COUNCIL MEMBERS' REPORTS AND COMMENTS
Vice Mayor Casillas provided an update on the pre-demolition ceremony for the extension of the Norco College STEM facility.

Council Member Daddario provided a brief overview on the historical clock located at SGC, the crosswalk signals being installed on Sixth Street, and the opening of Claro's Italian Market.

Council Member Speake provided a brief overview of the pre-demolition ceremony for the extension of the Norco College STEM facility, and the opening of Claro's Italian Market.

Council Member Richins provided a brief overview of the library tribute to Jerry Soifer.

15. FUTURE AGENDA ITEMS

15.1 (NEW) LETTER OF SUPPORT REQUEST FOR THE #REASONABLERANKS CAMPAIGN (J. STEINER) TBD
The consensus of the Council was to bring back to a future meeting.

15.2 UPDATE CMC 9.52.030, NO EXCEPTION - CERTAIN CCW PERMITS (T.

DADDARIO) JUNE 18, 2025

15.3 SKYLINE MASTER PLAN (STAFF) JUNE 18, 2025

15.4 MOBILE HOME RENT STABILIZATION UPDATE (STAFF) JUNE 18, 2025

15.5 NORTH MALL CONCEPTS (STAFF) JULY 2, 2025

15.6 FEATHER FLAG PERMIT AMENDMENTS (W. SPEAKE) JULY/AUGUST

15.7 REVIEW/AMEND SECTION 17.63.120 ALTERATION, RELOCATION OR DEMOLITION OF HISTORIC RESOURCES, SPECIFICALLY (D)(6) (W.

SPEAKE) JULY/AUGUST

15.8 EXPLORE CMC ORDINANCE CHANGES TO SET TIME LIMITS FOR SPECIFIC FOR TEMPORARY FENCING AND BOARDED UP WINDOWS (W.

SPEAKE) AUGUST/SEPTEMBER

15.9 EXPLORE CORDON PRICING OF THE FOOTHILL CORRIDOR TO DETER CUT THROUGH TRAFFIC (W. SPEAKE) AUGUST/SEPTEMBER

15.10 METHODOLOGY FOR GREEN RIVER ROAD/FOOTHILL PARKWAY TRAFFIC

STUDY (STAFF) SEPTEMBER/OCTOBER

16. ADJOURNMENT
The next scheduled meeting of the Council is on June 18, 2025. Mayor Steiner adjourned the meeting at 8:01 p.m.

DATE: 06/18/2025
TO: Honorable Mayor and City Council Members
FROM: Finance Department
2025-221

REQUEST FOR CITY COUNCIL ACTION
SUBJECT:

CITY COUNCIL, SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF

THE CITY OF CORONA, CORONA PUBLIC FINANCING AUTHORITY, CORONA

UTILITY AUTHORITY, AND CORONA HOUSING AUTHORITY TO RECEIVE AND FILE THE MONTHLY FISCAL REPORT FOR APRIL 2025
RECOMMENDED ACTION:

That the City Council receive and file the monthly fiscal report for April 2025.

M E M O R A N D U M
June 18, 2025
TO: City Clerk
FROM: Kim Sitton
Finance Director
SUBJECT: Monthly Fiscal Report, April 2025
Pursuant to CMC Section 2.28.010 (D) the attached report provides an accounting of all receipts, disbursements, and fund balances for the month of April 2025, subject to final audit.

Prepared By: Reviewed By:
_______________________________ _______________________________ Financial Analyst Accounting Manager
Respectfully submitted:
_______________________________ _______________________________ Finance Director Assistant City Manager
_______________________________
City Treasurer
Attachment
Docusign Envelope ID: 8AB00E1C-BB40-4BEA-AA19-5D10B3D2E794

BEGINNING ENDING

DESCRIPTION BALANCE RECEIPTS DISBURSEMENTS BALANCE
Balance Per Bank - Bank of America $ 3,861,730.13 $ 94,932,737.56 $ 93,445,583.51 $ 5,348,884.18 Deposits in Transit 1,165,196.78 1,165,196.78 1,946,035.08 Outstanding Checks (1,029,290.37) 891,525.05 (891,525.05) Fiscal Agents 53,608,058.62 1,867,104.06 73,411,920.11
Developer Escrow Accounts 2,231,086.08
1,946,035.08
1,029,290.37
21,670,965.55
2,231,086.08
Investments
Chandler Investment- City Account 431,948,973.74 26,703,840.56 50,868,826.75 407,783,987.55 Chandler Investment -Pension Trust Fund 43,563,845.59 33,736.79 43,597,582.38 LAIF 24,953,884.12 33,747,807.74 39,000,000.00 19,701,691.86 Investments Subtotal 500,466,703.45 60,485,385.09 89,868,826.75 471,083,261.79 Change Fund 10,248.00 10,248.00
Returned Checks 1,917.42 23,465.50 12,019.68 13,363.24
Credit Card Reconciling Items- Fees (2,440.60) 2,440.60 2,427.28 (2,427.28) TOTAL $ 560,313,209.51 $ 180,090,319.75 $ 187,252,683.11 $ 553,150,846.15 * For informational purpose only
April 30, 2025

CITY OF CORONA
Receipts and Disbursements*
Docusign Envelope ID: 8AB00E1C-BB40-4BEA-AA19-5D10B3D2E794

ENDING DEPOSITS OUTSTANDING MISCELLANEOUS RECONCILED

ACCOUNTS BANK BAL IN TRANSIT CHECKS RECONCILING ITEMS BALANCES LAIF $ 19,701,691.86 $ 19,701,691.86
Chandler Investment- City Account $ 407,783,987.55 $ 407,783,987.55 Chandler Investment -Pension Trust Fund $ 43,597,582.38 $ 43,597,582.38 Investment Total 471,083,261.79 471,083,261.79
General Account - Bank of America 4,931,906.89 1,742,615.77 (771,128.45) 10,935.96 5,914,330.17 Worker's Comp Account - Bank of America 416,977.29 203,419.31 (120,396.60) 500,000.00 Fiscal Agent Accounts 73,411,920.11 73,411,920.11
Escrow Account 2,231,086.08 2,231,086.08
Cashiers Change 10,248.00 10,248.00

BALANCE PER BOOKS OF CITY TREASURER
& FINANCE DIRECTOR $ 552,085,400.16 $ 1,946,035.08 $ (891,525.05) $ 10,935.96 $ 553,150,846.15 Subject to final audit

CITY OF CORONA
Cash and Investment Status Report
April 30, 2025
Docusign Envelope ID: 8AB00E1C-BB40-4BEA-AA19-5D10B3D2E794

General Fund $ 219,790,763.73
Special Revenue Funds
Gas Tax 14,084,957.33
Measure A 17,428,486.89
Trip Reduction 2,143,227.26
Asset Forfeiture 377,170.68
Development 33,918,503.32
Residential Refuse/Recycling (821,914.33)
Landscape and Streetlight Maintenance 26,435,734.95
Other Grants and Endowments 14,699,814.34 108,265,980.44 Debt Service Funds
Public Financing Authority 274,644.20 274,644.20
Capital Project Funds
Housing/Community Development (1,495,660.20)
Planned Local Drainage 464,332.97
Other Grants (20,271,791.21)
Public Facility Project (4,135,502.81)
Corona Housing Authority 22,249,307.51 (3,189,313.74)
Enterprise Funds
Water Utility 43,826,784.25
Water Reclamation Utility 61,416,565.11
Transit 240,022.31
Electric Utility 30,217,978.17
Airport 2,038,983.59 137,740,333.43
Internal Service Funds
Fleet Operations 1,245,350.62
Workers' Compensation 22,207,513.52
Liability Risk 516,147.48
Warehouse Services 1,364,702.93
Information Technology 11,628,047.51 36,961,762.06
Fiduciary Funds
AD & CFD Bond Funds 45,703,100.60
AB109 PACT -
Successor Agency 7,603,575.43 53,306,676.03
Total All Funds $ 553,150,846.15
Subject to final audit

CITY OF CORONA
Cash Balance By Fund
April 30, 2025
Docusign Envelope ID: 8AB00E1C-BB40-4BEA-AA19-5D10B3D2E794

MARKET BOOK PERCENT OF

INVESTMENTS PAR VALUE VALUE VALUE PORTFOLIO
ABS 51,860,000.00 44,376,859.56 43,945,286.87 9.33%
Agency 33,180,000.00 32,881,712.41 33,076,554.85 7.02%
CMO 47,415,000.00 46,138,381.69 45,002,979.99 9.55%
Pension Trust 627,237.98 50,902,024.38 43,597,582.39 9.25% Receivable 106,345.23 106,345.23 106,345.23 0.02%
Corporate 114,318,000.00 114,297,569.50 113,090,436.96 24.01% LAIF 19,701,691.86 19,701,691.86 19,701,691.86 4.18%
Money Market Fund FI 2,707,514.64 2,707,514.64 2,707,514.64 0.57% Municipal Bonds 4,395,000.00 4,470,277.56 4,418,161.65 0.94% Supranational 21,690,000.00 21,480,632.16 21,544,534.64 4.57% US Treasury 144,620,000.00 145,621,134.60 143,892,172.71 30.54% TOTAL PORTFOLIO $ 440,620,789.71 482,684,143.60 $ 471,083,261.79 100.00% Subject to final audit

CITY OF CORONA
Investment Portfolio Report
April 30, 2025
Docusign Envelope ID: 8AB00E1C-BB40-4BEA-AA19-5D10B3D2E794

DATE: 06/18/2025
TO: Honorable Mayor and City Council Members
FROM: Finance Department
2025-222

REQUEST FOR CITY COUNCIL ACTION
SUBJECT:

CITY COUNCIL, SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF

THE CITY OF CORONA, CORONA PUBLIC FINANCING AUTHORITY, CORONA

UTILITY AUTHORITY, AND CORONA HOUSING AUTHORITY TO RECEIVE AND FILE THE MONTHLY INVESTMENT PORTFOLIO REPORT FOR APRIL 2025
RECOMMENDED ACTION:

That the City Council receive and file the monthly investment portfolio report for April 2025.

____________________________________________________________________________________________________________________ Prepared By: Chandler Asset Management
City of Corona
Investment Portfolio Report
Month Ending April 30, 2025
In accordance with the City Investment Policy, a monthly investment report shall be filed with the City Council which provides a clear picture of the status of the current investments. The report for the month ending April 30, 2025 has been prepared by Chandler Asset Management. We hereby certify that this report accurately reflects all pooled investments and is in compliance with the City’s Investment Policy. Combined with anticipated revenues, the portfolio contains sufficient investment liquidity to meet budgeted expenditures for the next six months.

SUBMITTED BY:

_____________________________________
Chad T. Willardson
City Treasurer
____________________________________
Brett Channing
Assistant City Manager
____________________________________
Kim Sitton
Finance Director
REVIEWED BY:
_____________________________________
Christine Thompson
Accounting Manager
Investment Summary
City's Investment Pension Trust Total Investment
Beginning balance March 31, 2025 456,902,858 $ 43,563,846 $ 500,466,703 $ Acquisitions / Additions:

Agency Notes - -
US Corporate Notes - -
LAIF 24,447,808 24,447,808
Money Market Fund 26,433,500 33,737 26,467,236
$ 50,881,307 33,737 $ 50,915,044
Dispositions / Withdrawals:

Agency Notes 12,855,489 12,855,489
US Corporate Notes 11,638,110 11,638,110
LAIF 29,700,000 29,700,000
Money Market Fund 25,000,000
Maturity/Call Redemption 1,000,000 1,000,000 $ 80,193,599 $ 80,193,599 Gain/(Loss) on Dispositions (104,887) $ (104,887) $
Ending balance April 30, 2025 427,485,679 $ 43,597,582 $ $ 471,083,262 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

MONTHLY ACCOUNT STATEMENT
City of Corona Cons Account | Account #10003 | As of April 30, 2025 CHANDLER ASSET MANAGEMENT | chandlerasset.com
Information contained herein is . We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian:

Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 2

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Account Summary
Maturity Distribution
Top Issuers
Credit Quality (S&P)
Average Modified Duration 2.40
Average Coupon 3.53%
Average Purchase YTM 3.78%
Average Market YTM 3.99%
Average Credit Quality* AA+
Average Final Maturity 2.82
Average Life 2.47
End Values as of
03/31/2025
End Values as of
04/30/2025
Market Value 458,713,529.28 431,782,119.22
Accrued Interest 2,525,550.14 2,807,846.06
Total Market Value 461,239,079.42 434,589,965.27
Income Earned 1,167,135.21 1,570,004.18
Cont/WD (8,331,780.53) (30,600,000.00)
Par 461,971,871.85 432,082,341.32
Book Value 456,902,857.86 427,485,679.41
Cost Value 456,902,857.86 427,485,679.41
Government of The United States 33.73%
FHLMC 10.69%
LAIF 4.56%
International Bank for Recon and Dev 3.54%
FNMA 3.22%
Federal Home Loan Mortgage Corp 2.88%
Toyota Motor Corporation 1.61%
Massachusetts Mutual Life Insurance 1.45%
*The average credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 3

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES (CMOS)
Max % (MV) 100.0 10.7 Compliant
Max Maturity (Years) 5.0 4.0 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV) 20.0 10.3 Compliant
Max % Issuer (MV) 5.0 1.4 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 25.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % Issuer (MV) 5.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 26.5 Compliant
Max % Issuer (MV) 5.0 1.6 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

FEDERAL AGENCIES
Max % (MV) 100.0 7.6 Compliant
Max Callables (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5 3 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 19.7 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 0.6 Compliant
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 4

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Max % Issuer (MV) 20.0 0.6 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

MORTGAGE-BACKED SECURITIES (NON-AGENCY)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 25.0 1.0 Compliant
Max % Issuer (MV) 5.0 1.0 Compliant
Max Maturity (Years)54 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 25.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years)5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUTUAL FUNDS
Max % (MV) 10.0 0.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years)3 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant

REPURCHASE AGREEMENTS
Max % (MV) 10.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 14.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 5.0 Compliant
Max % Issuer (MV) 10.0 3.5 Compliant
Max Maturity (Years)54 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 5

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
U.S. TREASURIES
Max % (MV) 100.0 33.7 Compliant
Max Maturity (Years) 5 4 Compliant
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 6

RECONCILIATION SUMMARY
Accrual Activity Summary
Fair Market Activity Summary
Month to Date Fiscal Year to Date
(01/01/2025)
Beginning Book Value 456,902,857.86 459,819,324.73
Maturities/Calls (1,000,000.00) (12,220,000.00)
Principal Paydowns (446,955.47) (1,925,931.27)
Purchases 60,181,307.35 186,058,707.75
Sales (88,046,643.62) (203,986,366.20)
Change in Cash, Payables, Receivables (268,882.42) (202,183.87) Amortization/Accretion 0.00 0.00
Realized Gain (Loss) 163,995.72 (57,871.72)
Ending Book Value 427,485,679.41 427,485,679.41
Month to Date Fiscal Year to Date
(01/01/2025)
Beginning Market Value 458,713,529.28 456,281,046.71
Maturities/Calls (1,000,000.00) (12,220,000.00)
Principal Paydowns (446,955.47) (1,925,931.27)
Purchases 60,181,307.35 186,058,707.75
Sales (88,046,643.62) (203,986,366.20)
Change in Cash, Payables, Receivables (268,882.42) (202,183.87) Amortization/Accretion 0.00 0.00
Change in Net Unrealized Gain (Loss) 2,485,768.38 7,834,717.82 Realized Gain (Loss) 163,995.72 (57,871.72)
Ending Market Value 431,782,119.22 431,782,119.22
Maturities / Calls
Month to Date (1,000,000.00)
Fiscal Year to Date (12,220,000.00)
Principal Paydowns
Month to Date (446,955.47)
Fiscal Year to Date (1,925,931.27)
Purchases
Month to Date 60,181,307.35
Fiscal Year to Date 186,058,707.75
Sales
Month to Date (88,046,643.62)
Fiscal Year to Date (203,986,366.20)
Interest Received
Month to Date 1,175,036.45
Fiscal Year to Date 5,140,174.88
Purchased / Sold Interest
Month to Date 112,671.81
Fiscal Year to Date 118,015.93
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 7

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
43815GAC3 HAROT 2021-4 A3 0.88
01/21/2026 17,853.71 11/16/20210.89%
17,849.95
17,849.95

99.78 4.99%
17,813.62

4.36 0.00%
(36.32)
Aaa/NA
AAA

0.73 0.05
89238JAC9 TAOT 2021-D A3 0.71
04/15/2026 20,814.68 11/09/20210.71%
20,814.24
20,814.24

99.83 5.08%
20,779.81

6.57 0.00%
(34.42)
NA/AAA
AAA

0.96 0.04
43815BAC4 HAROT 2022-1 A3 1.88
05/15/2026 231,515.86 02/15/20221.88%
231,481.04
231,481.04

99.56 4.90%
230,505.64
193.44

0.05%
(975.40)
Aaa/AAA
NA

1.04 0.14
05602RAD3 BMWOT 2022-A A3 3.21
08/25/2026 171,468.29 05/10/20223.21%
171,459.38
171,459.38

99.71 4.59%
170,973.73

91.74 0.04%
(485.65)
Aaa/AAA
NA

1.32 0.21
47787JAC2 JDOT 2022 A3 2.32 09/15/2026 165,612.55 03/10/2022

2.33%
165,575.91
165,575.91

99.54 4.08%
164,846.24
170.76

0.04%
(729.67)
Aaa/NA
AAA

1.38 0.26
362554AC1 GMCAR 2021-4 A3 0.68
09/16/2026 52,487.22 10/13/20210.68%
52,485.88
52,485.88

99.68 4.74%
52,319.82

14.87 0.01%
(166.06)
Aaa/AAA
NA

1.38 0.08
448977AD0 HART 2022-A A3 2.22
10/15/2026 198,005.35 03/09/20222.22%
197,997.72
197,997.72

99.64 4.79%
197,298.53
195.37

0.05%
(699.20)
NA/AAA
AAA

1.46 0.14
380146AC4 GMCAR 2022-1 A3 1.26
11/16/2026 69,493.85 01/11/20221.26%
69,487.81
69,487.81

99.60 4.87%
69,214.47

36.48 0.02%
(273.35)
NA/AAA
AAA

1.55 0.11
05611UAD5 BMWLT 2024-1 A3 4.98
03/25/2027 1,800,000.00 03/25/20245.01%
1,798,382.81
1,798,382.81
100.46

4.41%
1,808,355.60
1,494.00

0.42%
9,972.79
Aaa/AAA
NA

1.90 0.74
44934FAD7 HALST 2024-B A3 5.41
05/17/2027 1,615,000.00 05/14/20245.41%
1,614,955.10
1,614,955.10
100.87

4.47%
1,629,121.56
3,883.18

0.38%
14,166.46
NA/AAA
AAA

2.05 0.87
02582JJT8 AMXCA 2022-2 A 3.39
05/17/2027 2,765,000.00 05/17/20223.40%
2,764,388.38
2,764,388.38

99.95 4.72%
2,763,615.56
4,165.93

0.64%
(772.82)
NA/AAA
AAA

0.04 0.04
36269WAD1 GMALT 2024-2 A3 5.39
07/20/2027 1,495,000.00 05/07/20245.39%
1,494,913.14
1,494,913.14
101.00

4.36%
1,510,016.23
2,462.18

0.35%
15,103.09
NA/AAA
AAA

2.22 0.92
47800CAC0 JDOT 2023 A3 5.01 11/15/2027 1,536,538.09 02/22/2023

5.01%
1,536,258.13
1,536,258.13
100.26

4.71%
1,540,513.11
3,421.36

0.36%
4,254.98
Aaa/NA
AAA

2.54 0.73
58770JAD6 MBALT 2024-A A3 5.32
01/18/2028 1,085,000.00 05/17/20245.32%
1,084,873.06
1,084,873.06
101.13

4.55%
1,097,262.78
2,565.42

0.25%
12,389.72
Aaa/NA
AAA

2.72 1.35
44935WAD9 HALST 2025-A A3 4.83
01/18/2028 2,090,000.00 01/14/20254.83%
2,089,843.46
2,089,843.46
100.99

4.29%
2,110,738.86
4,486.53

0.49%
20,895.40
NA/AAA
AAA

2.72 1.67
437918AC9 HAROT 2024-1 A3 5.21
08/15/2028 3,435,000.00 02/13/20245.21%
3,434,850.58
3,434,850.58
101.15

4.19%
3,474,409.07
7,953.93

0.80%
39,558.49
Aaa/AAA
NA

3.29 1.06
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 3,645,000.00 09/07/2023

5.23%
3,643,989.61
3,643,989.61
101.34

4.19%
3,693,804.36
8,359.20

0.86%
49,814.75
NA/AAA
AAA

3.38 1.30
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 8

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
05522RDH8 BACCT 2023-2 A 4.98
11/16/2026 2,000,000.00 03/25/20244.85%
2,006,484.38
2,006,484.38
101.21

4.20%
2,024,253.80
4,426.67

0.47%
17,769.42
Aaa/NA
AAA

1.55 1.45
437930AC4 HAROT 2024-2 A3 5.27
11/20/2028 1,415,000.00 05/14/20245.27%
1,414,828.08
1,414,828.08
101.40

4.21%
1,434,794.86
2,692.82

0.33%
19,966.78
NA/AAA
AAA

3.56 1.24
36268GAD7 GMCAR 2024-1 A3 4.85
12/18/2028 1,985,000.00 03/25/20244.90%
1,980,890.43
1,980,890.43
100.59

4.35%
1,996,626.94
4,011.35

0.46%
15,736.51
Aaa/NA
AAA

3.64 1.07
448973AD9 HART 2024-A A3 4.99
02/15/2029 2,000,000.00 03/26/20244.98%
2,000,781.25
2,000,781.25
101.03

4.28%
2,020,672.20
4,435.56

0.47%
19,890.95
NA/AAA
AAA

3.80 1.36
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 1,855,000.00 06/04/2024

5.18%
1,854,718.23
1,854,718.23
101.27

4.23%
1,878,530.12
1,601.48

0.44%
23,811.89
Aaa/AAA
NA

3.83 1.25
47786WAD2 JDOT 2024-B A3 5.2 03/15/2029 2,100,000.00 06/11/2024

5.20%
2,099,589.45
2,099,589.45
101.93

4.12%
2,140,432.35
4,853.33

0.50%
40,842.90
Aaa/NA
AAA

3.87 1.68
02582JKH2 AMXCA 2024-1 A 5.23
04/16/2029 3,070,000.00 04/16/20245.23%
3,069,370.65
3,069,370.65
102.19

4.10%
3,137,348.43
7,136.04

0.73%
67,977.78
NA/AAA
AAA

3.96 1.82
05522RDJ4 BACCT 2024-1 A 4.93
05/15/2029 2,095,000.00 06/06/20244.93%
2,094,882.47
2,094,882.47
101.65

4.12%
2,129,613.17
4,590.38

0.49%
34,730.70
Aaa/AAA
NA

4.04 1.90
47800DAD6 JDOT 2025 A3 4.23 09/17/2029 2,080,000.00 03/04/2025

4.23%
2,079,869.17
2,079,869.17
100.32

4.13%
2,086,623.76
3,910.40

0.48%
6,754.59
Aaa/NA
AAA

4.38 2.31
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029 2,330,000.00 10/17/20244.29%
2,329,653.76
2,329,653.76
100.43

4.14%
2,340,046.49
4,442.53

0.54%
10,392.73
Aaa/AAA
NA

4.46 2.28
44935CAD3 HART 2025-A A3 4.32
10/15/2029 2,625,000.00 03/04/20254.32%
2,624,612.81
2,624,612.81
100.43

4.14%
2,636,328.45
5,040.00

0.61%
11,715.64
NA/AAA
AAA

4.46 1.99
Total ABS 43,948,789.59 4.82%
43,945,286.87
43,945,286.87
100.98

4.28%
44,376,859.56
86,645.91

10.28%
431,572.69

3.13 1.35
AGENCY
3135G04Z3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 06/17/2025 1,500,000.00 01/11/20210.47% 1,501,860.00
1,501,860.00

99.51 4.34%
1,492,671.00
2,791.67

0.35%
(9,189.00)
Aaa/AA+
AA+

0.13 0.13
3137EAEU9

FEDERAL HOME LOAN
MORTGAGE CORP 0.375
07/21/2025
6,300,000.00 --

0.45%
6,277,899.60
6,277,899.60

99.12 4.37%
6,244,556.41
6,562.50

1.45%
(33,343.19)
Aaa/AA+
AA+

0.22 0.22
3135G05X7 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.375 08/25/2025 6,285,000.00 --0.46%
6,260,439.20
6,260,439.20

98.77 4.31%
6,207,758.98
4,320.94

1.44%
(52,680.22)
Aaa/AA+
AA+

0.32 0.31
3137EAEX3

FEDERAL HOME LOAN
MORTGAGE CORP 0.375
09/23/2025
6,295,000.00 --

0.44%
6,276,346.05
6,276,346.05

98.46 4.34%
6,198,073.05
2,491.77

1.44%
(78,273.00)
Aaa/AA+
AA+

0.40 0.39
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 9

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3135G06G3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 11/07/2025 6,300,000.00 --0.57%
6,279,895.00
6,279,895.00

98.17 4.11%
6,184,888.92
15,225.00

1.43%
(95,006.08)
Aaa/AA+
AA+

0.52 0.51
880591EZ1 TENNESSEE VALLEY AUTHORITY

3.875 03/15/2028 3,500,000.00 05/04/20233.56%
3,548,755.00
3,548,755.00
100.53

3.68%
3,518,484.76
17,329.86

0.81%
(30,270.24)
Aaa/AA+
AA+

2.88 2.68
3130AWN63 FEDERAL HOME LOAN BANKS 4.0
06/30/2028 3,000,000.00 08/21/20234.53%
2,931,360.00
2,931,360.00
101.18

3.60%
3,035,279.28
40,333.33

0.70%
103,919.28
Aaa/AA+
AA+

3.17 2.91
Total Agency 33,180,000.00 1.18%
33,076,554.85
33,076,554.85

99.11 4.16%
32,881,712.41
89,055.07

7.62%
(194,842.44)

0.88 0.83

AGENCY CMBS
3137BSP72 FHMS K-058 A2 2.653
08/25/2026 1,500,000.00 11/12/20211.37%
1,586,425.78
1,586,425.78

98.06 4.11%
1,470,886.05
3,316.25

0.34%
(115,539.73)
Aaa/AA+
AAA

1.32 1.23
3137BSRE5 FHMS K-059 A2 3.12 09/25/2026 3,000,000.00 02/18/2022

1.98%
3,128,437.50
3,128,437.50

98.57 4.12%
2,957,006.10
7,800.00

0.68%
(171,431.40)
Aaa/AAA
AAA

1.41 1.26
3137FETN0 FHMS K-073 A2 3.35 01/25/2028 6,000,000.00 --

4.55%
5,707,999.69
5,707,999.69

98.27 3.99%
5,896,235.40
16,750.00

1.37%
188,235.71
Aaa/AA+
AAA

2.74 2.47
3137F4D41 FHMS K-074 A2 3.6 01/25/2028 3,000,000.00 03/16/2023

4.93%
2,911,054.69
2,911,054.69

98.86 3.99%
2,965,930.20
9,000.00

0.69%
54,875.51
Aaa/AA+
AAA

2.74 2.49
3137FG6X8 FHMS K-077 A2 3.85 05/25/2028 5,320,000.00 --

4.60%
5,229,125.01
5,229,125.01

99.46 3.98%
5,291,205.50
17,068.33

1.23%
62,080.49
Aaa/AA+
AAA

3.07 2.77
3137FGR31 FHMS K-078 A2 3.854
06/25/2028 1,997,000.00 06/22/20234.42%
1,951,677.46
1,951,677.46

99.47 3.99%
1,986,322.64
6,413.70

0.46%
34,645.18
Aaa/AA+
AAA

3.15 2.80
3137FJEH8 FHMS K-081 A2 3.9 08/25/2028 3,148,000.00 09/05/2023

4.88%
3,015,685.63
3,015,685.63

99.53 4.00%
3,133,072.50
10,231.00

0.73%
117,386.87
Aaa/AA+
AAA

3.32 3.03
3137FJKE8 FHMS K-082 A2 3.92 09/25/2028 2,500,000.00 11/28/2023

4.75%
2,411,328.13
2,411,328.13

99.58 4.01%
2,489,391.00
8,166.67

0.58%
78,062.87
Aaa/AA+
AAA

3.41 3.07
3137H4BY5 FHMS K-746 A2 2.031
09/25/2028 5,000,000.00 03/21/20244.56%
4,480,468.75
4,480,468.75

93.71 4.03%
4,685,681.50
8,462.50

1.09%
205,212.75
Aaa/AA+
AAA

3.41 3.18
3137H5YC5 FHMS K-748 A2 2.26 01/25/2029 8,000,000.00 --

4.64%
7,168,164.07
7,168,164.07

93.88 4.06%
7,510,368.80
15,066.67

1.74%
342,204.73
Aaa/AA+
AAA

3.74 3.43
3137FLMV3 FHMS K-090 A2 3.422
02/25/2029 4,950,000.00 05/30/20244.87%
4,637,144.53
4,637,144.53

97.72 4.05%
4,837,248.90
14,115.75

1.12%
200,104.37
Aaa/AAA
AA+

3.82 3.46
3137FLYV0 FHMS K-092 A2 3.298
04/25/2029 3,000,000.00 04/19/20244.94%
2,775,468.75
2,775,468.75

97.17 4.06%
2,915,033.10
8,245.00

0.68%
139,564.35
Aaa/AA+
AAA

3.99 3.60
Total Agency CMBS 47,415,000.00 4.42%
45,002,979.99
45,002,979.99

97.36 4.03%
46,138,381.69
124,635.87

10.69%
1,135,401.70

3.16 2.88
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 10

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 17,414.41 --

0.00%
17,414.41
17,414.41

1.00 0.00%
17,414.41

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
CCYUSD Receivable 88,930.82 --

0.00%
88,930.82
88,930.82

1.00 0.00%
88,930.82

0.00 0.02%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 106,345.23 0.00%
106,345.23
106,345.23

1.00 0.00%
106,345.23

0.00 0.02%

0.00 0.00

0.00 CORPORATE
06367WB85 BANK OF MONTREAL 1.85
05/01/2025 2,761,000.00 07/23/20210.85%
2,862,660.02
2,862,660.02
100.00

1.85%
2,761,000.00
25,539.25

0.64%
(101,660.02)
A2/AAA0.00

0.00 40139LBC6 GUARDIAN LIFE GLOBAL
FUNDING 0.875 12/10/2025 3,000,000.00 --1.12%
2,969,700.00
2,969,700.00

97.83 4.53%
2,934,911.67
10,281.25

0.68%
(34,788.33)
Aa1/AA+
NA

0.61 0.59
023135BX3 AMAZON.COM INC 1.0
05/12/2026 4,865,000.00 05/10/20211.09%
4,843,983.20
4,843,983.20

96.92 4.08%
4,715,266.78
22,838.47

1.09%
(128,716.42)
A1/AA
AA1.031.00
91324PEC2 UNITEDHEALTH GROUP INC 1.15
05/15/2026 805,000.00 --1.08%
807,605.05
807,605.05

96.85 4.28%
779,638.92
4,268.74

0.18%
(27,966.13)
A2/A+
A

1.04 1.01
89236TJK2 TOYOTA MOTOR CREDIT CORP

1.125 06/18/2026 3,325,000.00 06/15/20211.13%
3,323,537.00
3,323,537.00

96.67 4.17%
3,214,162.36
13,819.53

0.74%
(109,374.64)
A1/A+
A+

1.13 1.10
57629WDE7 MASSMUTUAL GLOBAL
FUNDING II 1.2 07/16/2026 2,272,000.00 08/10/20211.21%
2,271,369.92
2,271,369.92

96.61 4.10%
2,195,023.21
7,952.00

0.51%
(76,346.71)
Aa3/AA+
AA+

1.21 1.18
58989V2D5 MET TOWER GLOBAL FUNDING

1.25 09/14/2026 1,715,000.00 09/07/20211.27%
1,713,422.20
1,713,422.20

96.03 4.26%
1,646,982.93
2,798.78

0.38%
(66,439.27)
Aa3/AAAA1.38

1.33 931142ER0 WALMART INC 1.05 09/17/2026 785,000.00 09/08/2021

1.09%
783,516.35
783,516.35

96.40 3.75%
756,744.28
1,007.42

0.18%
(26,772.07)
Aa2/AA
AA

1.38 1.34
59217GER6 METROPOLITAN LIFE GLOBAL
FUNDING I 1.875 01/11/2027 2,485,000.00 01/03/2022

1.90%
2,482,167.10
2,482,167.10

96.13 4.26%
2,388,876.57
14,236.98

0.55%
(93,290.53)
Aa3/AAAA1.70

1.63 808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 1,300,000.00 03/09/20222.73%
1,282,866.00
1,282,866.00

96.99 4.17%
1,260,811.81
5,131.39

0.29%
(22,054.19)
A2/AA1.84

1.77 89114TZT2 TORONTO-DOMINION BANK 2.8
03/10/2027 1,900,000.00 03/09/20222.97%
1,884,933.00
1,884,933.00

97.27 4.35%
1,848,055.75
7,536.67

0.43%
(36,877.25)
A2/ANA1.86

1.78 665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 1,345,000.00 05/05/2022

4.04%
1,342,821.10
1,342,821.10

99.86 4.07%
1,343,108.50
25,555.00

0.31%
287.40
A2/A+
A+

2.03 1.89
91324PEG3 UNITEDHEALTH GROUP INC 3.7
05/15/2027 1,365,000.00 05/17/20223.69%
1,365,638.40
1,365,638.40

99.29 4.07%
1,355,280.24
23,288.42

0.31%
(10,358.16)
A2/A+
A

2.04 1.91
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 11

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
22160KAM7 COSTCO WHOLESALE CORP 3.0
05/18/2027 2,500,000.00 07/15/20223.53%
2,441,975.00
2,441,975.00

98.45 3.79%
2,461,285.75
33,958.33

0.57%
19,310.75
Aa3/AA
NA

2.05 1.94
89115A2C5 TORONTO-DOMINION BANK

4.108 06/08/2027 1,400,000.00 08/26/20224.18%
1,395,310.00
1,395,310.00

99.67 4.27%
1,395,340.16
22,845.04

0.32%

30.16 A2/ANA2.11

1.96 756109AU8 REALTY INCOME CORP 3.65
01/15/2028 4,500,000.00 --5.00%
4,242,810.00
4,242,810.00

98.35 4.30%
4,425,853.46
48,362.50

1.03%
183,043.46
A3/ANA2.71

2.52 24422EWR6 JOHN DEERE CAPITAL CORP 4.75
01/20/2028 2,450,000.00 01/23/20234.40%
2,487,705.50
2,487,705.50
101.90

4.01%
2,496,429.97
32,649.65

0.58%
8,724.47
A1/A
A+

2.73 2.50
91324PEP3 UNITEDHEALTH GROUP INC 5.25
02/15/2028 1,500,000.00 02/16/2023

4.75%
1,532,220.00
1,532,220.00
102.96

4.12%
1,544,325.26
16,625.00

0.36%
12,105.26
A2/A+
A

2.80 2.48
57636QAW4 MASTERCARD INC 4.875
03/09/2028 2,090,000.00 03/06/20234.90%
2,087,972.70
2,087,972.70
102.58

3.91%
2,143,942.92
14,717.08

0.50%
55,970.22
Aa3/A+
NA

2.86 2.56
037833ET3 APPLE INC 4.0 05/10/2028 1,650,000.00 05/08/2023

4.01%
1,649,083.50
1,649,083.50
100.81

3.71%
1,663,427.01
31,350.00

0.39%
14,343.51
Aaa/AA+
NA

3.03 2.70
58933YBH7 MERCK & CO INC 4.05
05/17/2028 1,975,000.00 05/08/20234.05%
1,975,392.25
1,975,392.25
100.38

3.92%
1,982,497.14
36,438.75

0.46%
7,104.89
Aa3/A+
NA

3.05 2.72
74340XCG4 PROLOGIS LP 4.875 06/15/2028 4,000,000.00 --

5.11%
3,959,713.70
3,959,713.70
101.87

4.23%
4,074,768.64
73,666.67

0.94%
115,054.94
A2/A
NA

3.13 2.75
78016HZS2 ROYAL BANK OF CANADA 5.2
08/01/2028 3,500,000.00 09/12/20235.50%
3,454,675.00
3,454,675.00
102.67

4.31%
3,593,499.60
45,500.00

0.83%
138,824.60
A1/A
AA3.252.94
69371RS64 PACCAR FINANCIAL CORP 4.95
08/10/2028 1,670,000.00 08/03/20234.99%
1,667,361.40
1,667,361.40
102.67

4.07%
1,714,545.01
18,599.63

0.40%
47,183.61
A1/A+
NA

3.28 2.97
74456QBX3 PUBLIC SERVICE ELECTRIC AND
GAS CO 3.65 09/01/2028 3,000,000.00 09/12/20235.15%
2,805,270.00
2,805,270.00

98.48 4.14%
2,954,521.44
18,250.00

0.68%
149,251.44
A1/A
NA

3.34 3.09
26442CAX2 DUKE ENERGY CAROLINAS LLC

3.95 11/15/2028 3,280,000.00 12/06/20234.81%
3,156,836.00
3,156,836.00

99.16 4.21%
3,252,429.99
59,741.56

0.75%
95,593.99
Aa3/A
NA

3.54 3.21
66815L2Q1

NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.71
01/10/2029
2,400,000.00 --

4.67%
2,404,556.16
2,404,556.16
101.20

4.35%
2,428,905.50
34,854.00

0.56%
24,349.34
Aaa/AA+
AAA

3.70 3.31
57629W5B2 MASSMUTUAL GLOBAL
FUNDING II 4.85 01/17/2029 2,140,000.00 01/09/20244.85% 2,139,721.80
2,139,721.80
101.66

4.36%
2,175,495.75
29,983.78

0.50%
35,773.95
Aa3/AA+
AA+

3.72 3.33
46647PAM8 JPMORGAN CHASE & CO 3.509
01/23/2029 3,300,000.00 01/18/20245.07%
3,116,157.00
3,116,157.00

97.57 4.73%
3,219,812.21
31,522.52

0.75%
103,655.21
A1/A
AA3.732.54
61747YFA8 MORGAN STANLEY 5.123
02/01/2029 2,650,000.00 02/13/2024

5.31%
2,632,165.50
2,632,165.50
101.58

4.90%
2,691,969.53
33,939.88

0.62%
59,804.03
A1/AA+3.76

2.51 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 12

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
63743HFN7

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.85 02/07/2029
2,500,000.00 03/19/2024

5.02%
2,481,775.00
2,481,775.00
101.48

4.42%
2,537,098.18
28,291.67

0.59%
55,323.18
A2/AA3.77

3.31 17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029 1,960,000.00 02/21/20244.86%
1,959,314.00
1,959,314.00
102.55

4.12%
2,009,957.85
17,163.61

0.47%
50,643.85
A1/AANA3.83

3.37 14913UAJ9 CATERPILLAR FINANCIAL
SERVICES CORP 4.85 02/27/2029 2,500,000.00 03/19/20244.81% 2,504,150.00
2,504,150.00
102.23

4.21%
2,555,819.98
21,555.56

0.59%
51,669.98
A2/A
A+

3.83 3.44
26442UAH7 DUKE ENERGY PROGRESS LLC

3.45 03/15/2029 1,500,000.00 05/10/2024

5.07%
1,396,687.88
1,396,687.88

97.01 4.29%
1,455,205.64
6,612.50

0.34%
58,517.76
Aa3/A
NA

3.87 3.56
89115A2Y7 TORONTO-DOMINION BANK

4.994 04/05/2029 2,330,000.00 03/26/20244.99%
2,330,000.00
2,330,000.00
102.02

4.43%
2,377,166.28
8,403.79

0.55%
47,166.28
A2/AAA3.93

3.53 58989V2H6 MET TOWER GLOBAL FUNDING

5.25 04/12/2029 2,000,000.00 05/24/20245.27%
1,998,260.00
1,998,260.00
102.83

4.46%
2,056,559.18
5,541.67

0.48%
58,299.18
Aa3/AAAA3.95

3.53 74460DAD1 PUBLIC STORAGE OPERATING CO

3.385 05/01/2029 3,000,000.00 --5.21%
2,762,330.00
2,762,330.00

96.71 4.29%
2,901,176.19
50,775.00

0.67%
138,846.19
A2/A
NA

4.00 3.69
57629W4T4 MASSMUTUAL GLOBAL
FUNDING II 5.15 05/30/2029 1,850,000.00 05/22/20245.17% 1,848,464.50
1,848,464.50
102.77

4.40%
1,901,178.20
39,962.57

0.44%
52,713.70
Aa3/AA+
AA+

4.08 3.58
64952WFG3 NEW YORK LIFE GLOBAL
FUNDING 5.0 06/06/2029 2,120,000.00 06/03/20245.04%
2,115,929.60
2,115,929.60
103.01

4.19%
2,183,781.56
42,694.44

0.51%
67,851.96
Aaa/AA+
AAA

4.10 3.61
437076DC3 HOME DEPOT INC 4.75
06/25/2029 3,000,000.00 06/20/20244.84%
2,987,610.00
2,987,610.00
102.16

4.18%
3,064,762.62
49,875.00

0.71%
77,152.62
A2/A
A

4.15 3.62
171239AL0 CHUBB INA HOLDINGS LLC 4.65
08/15/2029 3,700,000.00 --4.51%
3,722,196.12
3,722,196.12
101.70

4.21%
3,762,883.42
36,321.67

0.87%
40,687.30
A2/A
A

4.29 3.76
30303M8S4 META PLATFORMS INC 4.3
08/15/2029 2,280,000.00 08/12/20244.33%
2,276,460.36
2,276,460.36
100.92

4.06%
2,300,987.29
20,697.33

0.53%
24,526.93
Aa3/AANA4.29

3.78 40139LBJ1 GUARDIAN LIFE GLOBAL
FUNDING 4.179 09/26/2029 3,050,000.00 09/23/20244.18%
3,050,000.00
3,050,000.00

99.33 4.35%
3,029,654.58
12,391.90

0.70%
(20,345.42)
Aa1/AA+
NA

4.41 3.96
64952WFK4 NEW YORK LIFE GLOBAL
FUNDING 4.6 12/05/2029 3,445,000.00 12/02/20244.61%
3,443,036.35
3,443,036.35
101.15

4.32%
3,484,775.35
64,268.39

0.81%
41,739.00
Aaa/AA+
AAA

4.60 4.03
89236TNA9 TOYOTA MOTOR CREDIT CORP

4.95 01/09/2030 3,655,000.00 01/06/20255.00%
3,647,178.30
3,647,178.30
102.08

4.45%
3,731,120.57
56,287.00

0.86%
83,942.27
A1/A+
A+

4.70 4.09
02665WFY2 AMERICAN HONDA FINANCE
CORP 4.8 03/05/2030 3,500,000.00 03/07/20254.90%
3,483,900.00
3,483,900.00
100.76

4.62%
3,526,530.28
26,133.33

0.82%
42,630.28
A3/ANA4.85

4.25 Total Corporate 114,318,000.00 4.07%
113,090,436.96
113,090,436.96
100.03

4.20%
114,297,569.50
1,234,233.70

26.47%
1,207,132.54

3.09 2.73
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 13

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
LAIF
90LAIF$00 Local Agency Investment Fund
State Pool 19,701,691.86 --4.27%
19,701,691.86
19,701,691.86

1.00 4.27%
19,701,691.86

0.00 4.56%

0.00 NA/NA
NA

0.00 0.00
Total LAIF 19,701,691.86 4.27%
19,701,691.86
19,701,691.86

1.00 4.27%
19,701,691.86

0.00 4.56%

0.00 0.00

0.00 MONEY MARKET
FUND
60934N807 FEDERATED HRMS GV O SVC 2,707,514.64 --

4.00%
2,707,514.64
2,707,514.64

1.00 4.00%
2,707,514.64

0.00 0.63%

0.00 Aaa/
AAAm
AAA

0.00 0.00
Total Money
Market Fund 2,707,514.64 4.00%
2,707,514.64
2,707,514.64

1.00 4.00%
2,707,514.64

0.00 0.63%

0.00 0.00

0.00 MUNICIPAL
BONDS
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029 4,395,000.00 10/30/20244.38%
4,418,161.65
4,418,161.65
101.71

4.06%
4,470,277.56
49,443.75

1.04%
52,115.91
Aa2/AAAA4.25

3.80 Total Municipal
Bonds 4,395,000.00 4.38%
4,418,161.65
4,418,161.65
101.71

4.06%
4,470,277.56
49,443.75

1.04%
52,115.91

4.25 3.80

SUPRANATIONAL
459058JL8

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 0.5 10/28/2025
6,300,000.00 --

0.59%
6,272,360.85
6,272,360.85

98.19 4.26%
6,185,855.53
262.50

1.43%
(86,505.32)
Aaa/AAA
NA

0.50 0.48
4581X0DV7

INTER-AMERICAN
DEVELOPMENT BANK 0.875
04/20/2026
6,390,000.00 04/13/2021

0.97%
6,360,733.80
6,360,733.80

97.12 3.93%
6,206,256.19
1,708.44

1.44%
(154,477.61)
Aaa/AAA
NA

0.97 0.95
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
4,500,000.00 12/12/2024

4.25%
4,426,740.00
4,426,740.00
100.44

3.77%
4,520,001.56
7,265.63

1.05%
93,261.56
Aaa/AAA
NA

4.46 4.06
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
4,500,000.00 03/14/2025

4.20%
4,484,700.00
4,484,700.00
101.52

3.78%
4,568,518.89
21,140.63

1.06%
83,818.89
Aaa/AAA
NA

4.89 4.38
Total
Supranational 21,690,000.00 2.24%
21,544,534.65
21,544,534.65

99.06 3.96%
21,480,632.16
30,377.19

4.97%
(63,902.49)

2.40 2.20
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 14

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration

US TREASURY
91282CAT8 UNITED STATES TREASURY 0.25
10/31/2025 6,000,000.00 02/19/20210.53%
5,923,125.00
5,923,125.00

98.08 4.20%
5,884,640.64

40.76 1.36%
(38,484.36)
Aaa/AA+
AA+

0.50 0.49
91282CCW9 UNITED STATES TREASURY 0.75
08/31/2026 1,570,000.00 09/23/20210.90%
1,558,899.61
1,558,899.61

96.11 3.77%
1,508,917.19
1,983.83

0.35%
(49,982.42)
Aaa/AA+
AA+

1.34 1.30
91282CCZ2 UNITED STATES TREASURY 0.875
09/30/2026 3,130,000.00 10/18/2021

1.19%
3,083,172.27
3,083,172.27

96.09 3.74%
3,007,489.86
2,319.71

0.70%
(75,682.41)
Aaa/AA+
AA+

1.42 1.38
91282CDG3 UNITED STATES TREASURY 1.125
10/31/2026 3,120,000.00 11/15/20211.25%
3,100,987.50
3,100,987.50

96.25 3.72%
3,003,121.87

95.38 0.70%
(97,865.63)
Aaa/AA+
AA+

1.50 1.46
91282CEW7 UNITED STATES TREASURY 3.25
06/30/2027 6,650,000.00 --3.12%
6,690,380.86
6,690,380.86

99.30 3.59%
6,603,242.19
72,240.68

1.53%
(87,138.67)
Aaa/AA+
AA+

2.17 2.05
91282CFB2 UNITED STATES TREASURY 2.75
07/31/2027 1,300,000.00 08/22/20223.12%
1,277,960.94
1,277,960.94

98.16 3.60%
1,276,132.81
8,888.12

0.30%
(1,828.13)
Aaa/AA+
AA+

2.25 2.15
91282CFH9 UNITED STATES TREASURY 3.125
08/31/2027 3,450,000.00 --3.45%
3,399,517.58
3,399,517.58

98.95 3.60%
3,413,882.81
18,164.06

0.79%
14,365.23
Aaa/AA+
AA+

2.34 2.22
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 2,800,000.00 --4.37%
2,770,000.01
2,770,000.01
101.28

3.57%
2,835,765.63
9,782.79

0.66%
65,765.62
Aaa/AA+
AA+

2.42 2.28
91282CFZ9 UNITED STATES TREASURY 3.875
11/30/2027 4,600,000.00 --3.74%
4,628,085.94
4,628,085.94
100.68

3.59%
4,631,445.32
74,434.07

1.07%
3,359.38
Aaa/AA+
AA+

2.59 2.40
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 7,000,000.00 --3.78%
7,028,945.31
7,028,945.31
100.77

3.57%
7,054,140.66
90,666.44

1.63%
25,195.35
Aaa/AA+
AA+

2.67 2.48
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 7,000,000.00 02/16/20234.05%
6,828,007.81
6,828,007.81

99.76 3.59%
6,983,320.33
60,911.60

1.62%
155,312.52
Aaa/AA+
AA+

2.76 2.58
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 7,000,000.00 02/23/20234.16%
6,949,960.94
6,949,960.94
101.08

3.59%
7,075,468.75
47,173.91

1.64%
125,507.81
Aaa/AA+
AA+

2.84 2.64
91282CHE4 UNITED STATES TREASURY 3.625
05/31/2028 7,000,000.00 06/14/20234.00%
6,884,335.94
6,884,335.94
100.07

3.60%
7,004,648.42
105,961.54

1.62%
120,312.48
Aaa/AA+
AA+

3.08 2.85
91282CHX2 UNITED STATES TREASURY 4.375
08/31/2028 1,900,000.00 09/25/20234.62%
1,879,960.94
1,879,960.94
102.35

3.62%
1,944,605.46
14,004.76

0.45%
64,644.52
Aaa/AA+
AA+

3.34 3.06
91282CJA0 UNITED STATES TREASURY 4.625
09/30/2028 5,800,000.00 10/04/20234.77%
5,763,296.88
5,763,296.88
103.21

3.62%
5,986,460.95
22,720.63

1.39%
223,164.07
Aaa/AA+
AA+

3.42 3.13
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 2,000,000.00 10/27/20234.79%
2,007,578.13
2,007,578.13
104.04

3.63%
2,080,859.38
264.95

0.48%
73,281.25
Aaa/AA+
AA+

3.50 3.20
91282CJN2 UNITED STATES TREASURY 4.375
11/30/2028 3,400,000.00 12/28/20233.83%
3,482,875.00
3,482,875.00
102.45

3.64%
3,483,273.45
62,115.38

0.81%
398.45
Aaa/AA+
AA+

3.59 3.24
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 15

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 11,000,000.00 --3.99%
10,883,007.81
10,883,007.81
100.36

3.64%
11,039,531.25
137,879.83

2.56%
156,523.44
Aaa/AA+
AA+

3.67 3.36
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 5,000,000.00 02/13/20244.26%
4,943,164.06
4,943,164.06
101.22

3.65%
5,060,937.50
49,723.76

1.17%
117,773.44
Aaa/AA+
AA+

3.76 3.43
91282CKD2 UNITED STATES TREASURY 4.25
02/28/2029 7,000,000.00 02/27/20244.30%
6,985,234.38
6,985,234.38
102.13

3.65%
7,148,750.00
50,122.28

1.66%
163,515.62
Aaa/AA+
AA+

3.83 3.49
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 7,000,000.00 04/10/20244.62%
6,848,515.63
6,848,515.63
101.68

3.66%
7,117,578.16
24,456.97

1.65%
269,062.53
Aaa/AA+
AA+

3.92 3.58
91282CKP5 UNITED STATES TREASURY 4.625
04/30/2029 7,000,000.00 --

4.48%
7,043,730.48
7,043,730.48
103.54

3.66%
7,248,007.83
879.76

1.68%
204,277.35
Aaa/AA+
AA+

4.00 3.63
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029 4,400,000.00 06/20/20244.27%
4,445,375.00
4,445,375.00
103.12

3.67%
4,537,328.14
82,681.32

1.05%
91,953.14
Aaa/AA+
AA+

4.08 3.65
91282CKX8 UNITED STATES TREASURY 4.25
06/30/2029 4,000,000.00 07/18/20244.09%
4,028,281.25
4,028,281.25
102.20

3.68%
4,087,812.48
56,823.20

0.95%
59,531.23
Aaa/AA+
AA+

4.17 3.75
91282CLK5 UNITED STATES TREASURY 3.625
08/31/2029 8,000,000.00 09/11/20243.45%
8,062,812.50
8,062,812.50

99.78 3.68%
7,982,504.00
48,858.70

1.85%
(80,308.50)
Aaa/AA+
AA+

4.34 3.95
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 8,500,000.00 --3.66%
8,437,500.00
8,437,500.00

99.23 3.69%
8,434,589.87
25,198.09

1.95%
(2,910.14)
Aaa/AA+
AA+

4.42 4.04
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 4,500,000.00 12/16/20244.25%
4,474,160.16
4,474,160.16
101.82

3.69%
4,581,738.27
77,513.74

1.06%
107,578.11
Aaa/AA+
AA+

4.59 4.08
91282CMG3 UNITED STATES TREASURY 4.25
01/31/2030 4,500,000.00 02/07/20254.33%
4,483,300.78
4,483,300.78
102.33

3.71%
4,604,941.40
47,548.34

1.07%
121,640.62
Aaa/AA+
AA+

4.76 4.24
Total US Treasury 144,620,000.00 3.75%
143,892,172.71
143,892,172.71
100.73

3.66%
145,621,134.60
1,193,454.58

33.73%
1,728,961.89

3.29 3.01
Total Portfolio 432,082,341.32 3.78%
427,485,679.41
427,485,679.41

94.81 3.99%
431,782,119.22
2,807,846.06
100.00%
4,296,439.80

2.82 2.40
Total Market Value
+ Accrued 434,589,965.27
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 16

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 04/01/2025 90LAIF$00 2,200,000.00 Local Agency Investment Fund State Pool 1.000 4.29% (2,200,000.00) 0.00 (2,200,000.00) 0.00 Purchase 04/02/2025 60934N807 15,282.31 FEDERATED HRMS GV O SVC 1.000 4.00% (15,282.31) 0.00 (15,282.31) 0.00
Purchase 04/03/2025 90LAIF$00 1,100,000.00 Local Agency Investment Fund State Pool 1.000 4.29% (1,100,000.00) 0.00 (1,100,000.00) 0.00 Purchase 04/07/2025 90LAIF$00 1,400,000.00 Local Agency Investment Fund State Pool 1.000 4.29% (1,400,000.00) 0.00 (1,400,000.00) 0.00 Purchase 04/07/2025 60934N807 58,180.10 FEDERATED HRMS GV O SVC 1.000 4.00% (58,180.10) 0.00 (58,180.10) 0.00
Purchase 04/08/2025 90LAIF$00 1,000,000.00 Local Agency Investment Fund State Pool 1.000 4.29% (1,000,000.00) 0.00 (1,000,000.00) 0.00 Purchase 04/14/2025 90LAIF$00 4,200,000.00 Local Agency Investment Fund State Pool 1.000 4.28% (4,200,000.00) 0.00 (4,200,000.00) 0.00 Purchase 04/14/2025 60934N807 52,500.00 FEDERATED HRMS GV O SVC 1.000 3.99% (52,500.00) 0.00 (52,500.00) 0.00
Purchase 04/15/2025 90LAIF$00 347,807.74 Local Agency Investment Fund State Pool 1.000 4.28% (347,807.74) 0.00 (347,807.74) 0.00 Purchase 04/15/2025 90LAIF$00 400,000.00 Local Agency Investment Fund State Pool 1.000 4.28% (400,000.00) 0.00 (400,000.00) 0.00 Purchase 04/15/2025 60934N807 141,813.31 FEDERATED HRMS GV O SVC 1.000 4.00% (141,813.31) 0.00 (141,813.31) 0.00
Purchase 04/15/2025 60934N807 3,062,227.02 FEDERATED HRMS GV O SVC 1.000 4.00% (3,062,227.02) 0.00 (3,062,227.02) 0.00 Purchase 04/16/2025 60934N807 3,890,763.12 FEDERATED HRMS GV O SVC 1.000 3.98% (3,890,763.12) 0.00 (3,890,763.12) 0.00 Purchase 04/16/2025 60934N807 95,380.09 FEDERATED HRMS GV O SVC 1.000 3.98% (95,380.09) 0.00 (95,380.09) 0.00
Purchase 04/17/2025 60934N807 7,169,324.15 FEDERATED HRMS GV O SVC 1.000 3.98% (7,169,324.15) 0.00 (7,169,324.15) 0.00 Purchase 04/21/2025 90LAIF$00 1,900,000.00 Local Agency Investment Fund State Pool 1.000 4.28% (1,900,000.00) 0.00 (1,900,000.00) 0.00 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 17

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Purchase 04/21/2025 60934N807 2,404,053.04 FEDERATED HRMS GV O SVC 1.000 0.00% (2,404,053.04) 0.00 (2,404,053.04) 0.00 Purchase 04/21/2025 60934N807 40,923.98 FEDERATED HRMS GV O SVC 1.000 0.00% (40,923.98) 0.00 (40,923.98) 0.00
Purchase 04/22/2025 90LAIF$00 1,800,000.00 Local Agency Investment Fund State Pool 1.000 4.28% (1,800,000.00) 0.00 (1,800,000.00) 0.00 Purchase 04/22/2025 60934N807 9,037,724.91 FEDERATED HRMS GV O SVC 1.000 3.98% (9,037,724.91) 0.00 (9,037,724.91) 0.00 Purchase 04/22/2025 60934N807 10,415.00 FEDERATED HRMS GV O SVC 1.000 3.98% (10,415.00) 0.00 (10,415.00) 0.00
Purchase 04/23/2025 90LAIF$00 19,000,000.00 Local Agency Investment Fund State Pool 1.000 4.28% (19,000,000.00) 0.00 (19,000,000.00) 0.00 Purchase 04/25/2025 60934N807 42,178.66 FEDERATED HRMS GV O SVC 1.000 3.96% (42,178.66) 0.00 (42,178.66) 0.00
Purchase 04/25/2025 60934N807 161,308.92 FEDERATED HRMS GV O SVC 1.000 3.96% (161,308.92) 0.00 (161,308.92) 0.00
Purchase 04/29/2025 90LAIF$00 400,000.00 Local Agency Investment Fund State Pool 1.000 4.27% (400,000.00) 0.00 (400,000.00) 0.00 Purchase 04/29/2025 60934N807 15,750.00 FEDERATED HRMS GV O SVC 1.000 4.00% (15,750.00) 0.00 (15,750.00) 0.00
Purchase 04/30/2025 60934N807 235,675.00 FEDERATED HRMS GV O SVC 1.000 4.00% (235,675.00) 0.00 (235,675.00) 0.00
Total Purchase 60,181,307.35 (60,181,307.35) 0.00 (60,181,307.35) 0.00 TOTAL
ACQUISITIONS 60,181,307.35 (60,181,307.35) 0.00 (60,181,307.35) 0.00

DISPOSITIONS
Sale 04/02/2025 90LAIF$00 (3,000,000.00) Local Agency Investment Fund State Pool 1.000 4.29% 3,000,000.00 0.00 3,000,000.00 0.00 Sale 04/09/2025 90LAIF$00 (3,800,000.00) Local Agency Investment Fund State Pool 1.000 4.29% 3,800,000.00 0.00 3,800,000.00 0.00 Sale 04/10/2025 90LAIF$00 (2,500,000.00) Local Agency Investment Fund State Pool 1.000 4.29% 2,500,000.00 0.00 2,500,000.00 0.00 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 18

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Sale 04/15/2025 713448FX1 (3,775,000.00) PEPSICO INC 4.5 07/17/2029 100.499 4.53% 3,793,837.25 (41,525.00) 3,835,362.25 24,688.50 Sale 04/15/2025 532457CK2 (2,710,000.00) ELI LILLY AND CO 4.5 02/09/2029 100.557 4.51% 2,725,094.70 (22,357.50) 2,747,452.20 16,883.30 Sale 04/16/2025 90LAIF$00 (5,400,000.00) Local Agency Investment Fund State Pool 1.000 4.28% 5,400,000.00 0.00 5,400,000.00 0.00 Sale 04/17/2025 3137FBBX3 (2,650,000.00) FHMS K-068 A2 3.244 08/25/2027 97.438 4.67% 2,582,093.75 (3,820.71) 2,585,914.46 99,685.55 Sale 04/17/2025 3137FEBQ2 (4,690,000.00) FHMS K-072 A2 3.444 12/25/2027 97.574 4.56% 4,576,230.86 (7,178.83) 4,583,409.69 105,158.59 Sale 04/17/2025 90LAIF$00 (1,900,000.00) Local Agency Investment Fund State Pool 1.000 4.28% 1,900,000.00 0.00 1,900,000.00 0.00 Sale 04/21/2025 91282CET4 (2,400,000.00) UNITED STATES TREASURY

2.625 05/31/2027 97.703 3.07% 2,344,875.00 (24,576.92) 2,369,451.92 (6,281.25) Sale 04/22/2025 91282CAZ4 (3,430,000.00) UNITED STATES TREASURY

0.375 11/30/2025 97.734 0.77% 3,352,289.06 (5,053.13) 3,357,342.19 (16,212.11) Sale 04/22/2025 3135G04Z3 (4,700,000.00)

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.5 06/17/2025

99.409 0.52% 4,672,223.00 (8,159.72) 4,680,382.72 (22,648.90) Sale 04/23/2025 60934N807 (25,000,000.00) FEDERATED HRMS GV O SVC 1.000 3.97% 25,000,000.00 0.00 25,000,000.00 0.00
Sale 04/24/2025 90LAIF$00 (3,400,000.00) Local Agency Investment Fund State Pool 1.000 4.28% 3,400,000.00 0.00 3,400,000.00 0.00 Sale 04/28/2025 90LAIF$00 (13,500,000.00) Local Agency Investment Fund State Pool 1.000 4.27% 13,500,000.00 0.00 13,500,000.00 0.00 Sale 04/30/2025 90LAIF$00 (5,500,000.00) Local Agency Investment Fund State Pool 1.000 4.27% 5,500,000.00 0.00 5,500,000.00 0.00 Total Sale (88,355,000.00) 88,046,643.62 (112,671.81) 88,159,315.43 201,273.68 TOTAL
DISPOSITIONS (88,355,000.00) 88,046,643.62 (112,671.81) 88,159,315.43 201,273.68 OTHER

TRANSACTIONS
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 19

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Call Redemption 04/22/2025 46647PBK1 (1,000,000.00) JPMORGAN CHASE & CO

2.083 04/22/2026 100.000 2.29% 1,000,000.00 0.00 1,000,000.00 (37,330.00) Total Call
Redemption (1,000,000.00) 1,000,000.00 0.00 1,000,000.00 (37,330.00) Cash Transfer 04/01/2025 CCYUSD 2,200,000.00 Cash 0.00% 2,200,000.00 0.00 2,200,000.00 0.00 Cash Transfer 04/02/2025 CCYUSD (3,000,000.00) Cash 0.00% (3,000,000.00) 0.00 (3,000,000.00) 0.00 Cash Transfer 04/03/2025 CCYUSD 1,100,000.00 Cash 0.00% 1,100,000.00 0.00 1,100,000.00 0.00 Cash Transfer 04/07/2025 CCYUSD 1,400,000.00 Cash 0.00% 1,400,000.00 0.00 1,400,000.00 0.00 Cash Transfer 04/08/2025 CCYUSD 1,000,000.00 Cash 0.00% 1,000,000.00 0.00 1,000,000.00 0.00 Cash Transfer 04/09/2025 CCYUSD (3,800,000.00) Cash 0.00% (3,800,000.00) 0.00 (3,800,000.00) 0.00 Cash Transfer 04/10/2025 CCYUSD (2,500,000.00) Cash 0.00% (2,500,000.00) 0.00 (2,500,000.00) 0.00 Cash Transfer 04/14/2025 CCYUSD 4,200,000.00 Cash 0.00% 4,200,000.00 0.00 4,200,000.00 0.00 Cash Transfer 04/15/2025 CCYUSD 400,000.00 Cash 0.00% 400,000.00 0.00 400,000.00 0.00 Cash Transfer 04/16/2025 CCYUSD (5,400,000.00) Cash 0.00% (5,400,000.00) 0.00 (5,400,000.00) 0.00 Cash Transfer 04/17/2025 CCYUSD (1,900,000.00) Cash 0.00% (1,900,000.00) 0.00 (1,900,000.00) 0.00 Cash Transfer 04/21/2025 CCYUSD 1,900,000.00 Cash 0.00% 1,900,000.00 0.00 1,900,000.00 0.00 Cash Transfer 04/22/2025 CCYUSD 1,800,000.00 Cash 0.00% 1,800,000.00 0.00 1,800,000.00 0.00 Cash Transfer 04/23/2025 CCYUSD (6,000,000.00) Cash 0.00% (6,000,000.00) 0.00 (6,000,000.00) 0.00 Cash Transfer 04/24/2025 CCYUSD (3,400,000.00) Cash 0.00% (3,400,000.00) 0.00 (3,400,000.00) 0.00 Cash Transfer 04/28/2025 CCYUSD (13,500,000.00) Cash 0.00% (13,500,000.00) 0.00 (13,500,000.00) 0.00 Cash Transfer 04/29/2025 CCYUSD 400,000.00 Cash 0.00% 400,000.00 0.00 400,000.00 0.00 Cash Transfer 04/30/2025 CCYUSD (5,500,000.00) Cash 0.00% (5,500,000.00) 0.00 (5,500,000.00) 0.00 Total Cash
Transfer (30,600,000.00) (30,600,000.00) 0.00 (30,600,000.00) 0.00 Coupon 04/01/2025 3137FLYV0 0.00 FHMS K-092 A2 3.298
04/25/2029 4.94% 8,245.00 0.00 8,245.00 0.00
Coupon 04/01/2025 3137F4D41 0.00 FHMS K-074 A2 3.6
01/25/2028 4.93% 9,000.00 0.00 9,000.00 0.00
Coupon 04/01/2025 3137FJEH8 0.00 FHMS K-081 A2 3.9
08/25/2028 4.88% 10,231.00 0.00 10,231.00 0.00
Coupon 04/01/2025 3137FLMV3 0.00 FHMS K-090 A2 3.422
02/25/2029 4.87% 14,115.75 0.00 14,115.75 0.00
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 20

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 04/01/2025 3137FJKE8 0.00 FHMS K-082 A2 3.92
09/25/2028 4.75% 8,166.67 0.00 8,166.67 0.00
Coupon 04/01/2025 3137FBBX3 0.00 FHMS K-068 A2 3.244
08/25/2027 4.67% 7,163.83 0.00 7,163.83 0.00
Coupon 04/01/2025 3137H5YC5 0.00 FHMS K-748 A2 2.26
01/25/2029 4.64% 15,066.66 0.00 15,066.66 0.00
Coupon 04/01/2025 3137FG6X8 0.00 FHMS K-077 A2 3.85
05/25/2028 4.60% 17,068.33 0.00 17,068.33 0.00
Coupon 04/01/2025 3137H4BY5 0.00 FHMS K-746 A2 2.031
09/25/2028 4.56% 8,462.50 0.00 8,462.50 0.00
Coupon 04/01/2025 3137FEBQ2 0.00 FHMS K-072 A2 3.444
12/25/2027 4.56% 13,460.30 0.00 13,460.30 0.00
Coupon 04/01/2025 3137FETN0 0.00 FHMS K-073 A2 3.35
01/25/2028 4.55% 16,750.00 0.00 16,750.00 0.00
Coupon 04/01/2025 3137FGR31 0.00 FHMS K-078 A2 3.854
06/25/2028 4.42% 6,413.70 0.00 6,413.70 0.00
Coupon 04/01/2025 3137BSRE5 0.00 FHMS K-059 A2 3.12
09/25/2026 1.98% 7,800.00 0.00 7,800.00 0.00
Coupon 04/01/2025 3137BSP72 0.00 FHMS K-058 A2 2.653
08/25/2026 1.37% 3,316.25 0.00 3,316.25 0.00
Coupon 04/05/2025 89115A2Y7 0.00 TORONTO-DOMINION
BANK 4.994 04/05/2029 4.99% 58,180.10 0.00 58,180.10 0.00 Coupon 04/12/2025 58989V2H6 0.00

MET TOWER GLOBAL
FUNDING 5.25
04/12/2029

5.27% 52,500.00 0.00 52,500.00 0.00
Coupon 04/15/2025 44934FAD7 0.00 HALST 2024-B A3 5.41
05/17/2027 5.41% 7,280.96 0.00 7,280.96 0.00
Coupon 04/15/2025 58770JAD6 0.00 MBALT 2024-A A3 5.32
01/18/2028 5.32% 4,810.17 0.00 4,810.17 0.00
Coupon 04/15/2025 02582JKH2 0.00 AMXCA 2024-1 A 5.23
04/16/2029 5.23% 13,380.08 0.00 13,380.08 0.00
Coupon 04/15/2025 161571HT4 0.00 CHAIT 2023-1 A 5.16
09/15/2028 5.23% 15,673.50 0.00 15,673.50 0.00
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 21

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 04/15/2025 437918AC9 0.00 HAROT 2024-1 A3 5.21
08/15/2028 5.21% 14,913.63 0.00 14,913.63 0.00
Coupon 04/15/2025 47786WAD2 0.00 JDOT 2024-B A3 5.2
03/15/2029 5.20% 9,100.00 0.00 9,100.00 0.00
Coupon 04/15/2025 47800CAC0 0.00 JDOT 2023 A3 5.01
11/15/2027 5.01% 6,801.02 0.00 6,801.02 0.00
Coupon 04/15/2025 448973AD9 0.00 HART 2024-A A3 4.99
02/15/2029 4.98% 8,316.67 0.00 8,316.67 0.00
Coupon 04/15/2025 05522RDJ4 0.00 BACCT 2024-1 A 4.93
05/15/2029 4.93% 8,606.96 0.00 8,606.96 0.00
Coupon 04/15/2025 05522RDH8 0.00 BACCT 2023-2 A 4.98
11/16/2026 4.85% 8,300.00 0.00 8,300.00 0.00
Coupon 04/15/2025 44935WAD9 0.00 HALST 2025-A A3 4.83
01/18/2028 4.83% 8,412.25 0.00 8,412.25 0.00
Coupon 04/15/2025 44935CAD3 0.00 HART 2025-A A3 4.32
10/15/2029 4.32% 10,395.00 0.00 10,395.00 0.00
Coupon 04/15/2025 92970QAE5 0.00 WFCIT 2024-2 A 4.29
10/15/2029 4.29% 8,329.75 0.00 8,329.75 0.00
Coupon 04/15/2025 47800DAD6 0.00 JDOT 2025 A3 4.23
09/17/2029 4.23% 8,309.60 0.00 8,309.60 0.00
Coupon 04/15/2025 02582JJT8 0.00 AMXCA 2022-2 A 3.39
05/17/2027 3.40% 7,811.13 0.00 7,811.13 0.00
Coupon 04/15/2025 47787JAC2 0.00 JDOT 2022 A3 2.32
09/15/2026 2.33% 375.28 0.00 375.28 0.00
Coupon 04/15/2025 448977AD0 0.00 HART 2022-A A3 2.22
10/15/2026 2.22% 478.05 0.00 478.05 0.00
Coupon 04/15/2025 43815BAC4 0.00 HAROT 2022-1 A3 1.88
05/15/2026 1.88% 474.74 0.00 474.74 0.00
Coupon 04/15/2025 89238JAC9 0.00 TAOT 2021-D A3 0.71
04/15/2026 0.71% 32.41 0.00 32.41 0.00
Coupon 04/15/2025 47789QAC4 0.00 JDOT 2021-B A3 0.52
03/16/2026 0.52% 12.11 0.00 12.11 0.00
Coupon 04/16/2025 36268GAD7 0.00 GMCAR 2024-1 A3 4.85
12/18/2028 4.90% 8,022.71 0.00 8,022.71 0.00
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 22

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 04/16/2025 459058LN1 0.00

INTERNATIONAL BANK

FOR RECONSTRUCTION
AND DEVELOPM 3.875
10/16/2029

4.25% 87,210.00 0.00 87,210.00 0.00
Coupon 04/16/2025 380146AC4 0.00 GMCAR 2022-1 A3 1.26
11/16/2026 1.26% 101.80 0.00 101.80 0.00
Coupon 04/16/2025 362554AC1 0.00 GMCAR 2021-4 A3 0.68
09/16/2026 0.68% 45.58 0.00 45.58 0.00
Coupon 04/18/2025 437930AC4 0.00 HAROT 2024-2 A3 5.27
11/20/2028 5.27% 6,214.21 0.00 6,214.21 0.00
Coupon 04/20/2025 36269WAD1 0.00 GMALT 2024-2 A3 5.39
07/20/2027 5.39% 6,715.05 0.00 6,715.05 0.00
Coupon 04/20/2025 4581X0DV7 0.00

INTER-AMERICAN

DEVELOPMENT BANK

0.875 04/20/2026

0.97% 27,956.25 0.00 27,956.25 0.00
Coupon 04/21/2025 43815GAC3 0.00 HAROT 2021-4 A3 0.88
01/21/2026 0.89% 38.47 0.00 38.47 0.00
Coupon 04/22/2025 46647PBK1 0.00 JPMORGAN CHASE & CO

2.083 04/22/2026 2.29% 10,415.00 0.00 10,415.00 0.00
Coupon 04/25/2025 096919AD7 0.00 BMWOT 2024-A A3 5.18
02/26/2029 5.18% 8,007.42 0.00 8,007.42 0.00
Coupon 04/25/2025 05611UAD5 0.00 BMWLT 2024-1 A3 4.98
03/25/2027 5.01% 7,470.00 0.00 7,470.00 0.00
Coupon 04/25/2025 05602RAD3 0.00 BMWOT 2022-A A3 3.21
08/25/2026 3.21% 571.51 0.00 571.51 0.00
Coupon 04/28/2025 459058JL8 0.00

INTERNATIONAL BANK

FOR RECONSTRUCTION
AND DEVELOPM 0.5
10/28/2025

0.59% 15,750.00 0.00 15,750.00 0.00
Coupon 04/30/2025 91282CJF9 0.00 UNITED STATES TREASURY

4.875 10/31/2028 4.79% 48,750.00 0.00 48,750.00 0.00
Coupon 04/30/2025 91282CKP5 0.00 UNITED STATES TREASURY

4.625 04/30/2029 4.48% 161,875.00 0.00 161,875.00 0.00
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 23

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 04/30/2025 91282CDG3 0.00 UNITED STATES TREASURY

1.125 10/31/2026 1.25% 17,550.00 0.00 17,550.00 0.00
Coupon 04/30/2025 91282CAT8 0.00 UNITED STATES TREASURY

0.25 10/31/2025 0.53% 7,500.00 0.00 7,500.00 0.00
Total Coupon 0.00 811,946.40 0.00 811,946.40 0.00
Dividend 04/15/2025 90LAIF$00 0.00 Local Agency Investment Fund State Pool 4.28% (12,137.60) 0.00 (12,137.60) 0.00 Dividend 04/30/2025 60934N807 0.00 FEDERATED HRMS GV O
SVC 4.01% 17,414.42 0.00 17,414.42 0.00
Total Dividend 0.00 5,276.82 0.00 5,276.82 0.00
Principal Paydown 04/15/2025 47800CAC0 92,447.96 JDOT 2023 A3 5.01 11/15/2027 5.01% 92,447.96 -- 92,447.96 16.85
Principal Paydown 04/15/2025 47787JAC2 28,500.43 JDOT 2022 A3 2.32 09/15/2026 2.33% 28,500.43 -- 28,500.43 6.30
Principal Paydown 04/15/2025 448977AD0 60,402.09 HART 2022-A A3 2.22 10/15/2026 2.22% 60,402.09 -- 60,402.09 2.32
Principal Paydown 04/15/2025 43815BAC4 71,511.66 HAROT 2022-1 A3 1.88 05/15/2026 1.88% 71,511.66 -- 71,511.66 10.76
Principal Paydown 04/15/2025 89238JAC9 33,969.96 TAOT 2021-D A3 0.71 04/15/2026 0.71% 33,969.96 -- 33,969.96 0.72
Principal Paydown 04/15/2025 47789QAC4 27,942.72 JDOT 2021-B A3 0.52 03/16/2026 0.52% 27,942.72 -- 27,942.72 2.49
Principal Paydown 04/16/2025 380146AC4 27,454.46 GMCAR 2022-1 A3 1.26 11/16/2026 1.26% 27,454.46 -- 27,454.46 2.39
Principal Paydown 04/16/2025 362554AC1 27,946.41 GMCAR 2021-4 A3 0.68 09/16/2026 0.68% 27,946.41 -- 27,946.41 0.72
Principal Paydown 04/21/2025 43815GAC3 34,601.12 HAROT 2021-4 A3 0.88 01/21/2026 0.89% 34,601.12 -- 34,601.12 7.29
Principal Paydown 04/25/2025 05602RAD3 42,178.66 BMWOT 2022-A A3 3.21 08/25/2026 3.21% 42,178.66 -- 42,178.66 2.20
Total Principal
Paydown 446,955.47 446,955.47 -- 446,955.47 52.04
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 24

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss

TOTAL OTHER
TRANSACTIONS (31,153,044.53) (28,335,821.31) 0.00 (28,335,821.31) (37,277.96) Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 25

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income

CASH & EQUIVALENTS
60934N807 FEDERATED HRMS GV O SVC
2,707,514.64
1,274,015.03
26,433,499.61
(25,000,000.00)
2,707,514.64

0.00 15,282.31

0.00 15,282.31

0.00 0.00

0.00 15,282.31
15,282.31
CCYUSD Cash

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00
CCYUSD Receivable
106,345.23
375,227.65

0.00 0.00
106,345.23

0.00 0.00

0.00 0.00

0.00 0.00

0.00 0.00

0.00 Total Cash & Equivalents 2,813,859.87
1,649,242.68
26,433,499.61
(25,000,000.00)
2,813,859.87

0.00 15,282.31

0.00 15,282.31

0.00 0.00

0.00 15,282.31 15,282.31

FIXED INCOME
023135BX3 AMAZON.COM INC 1.0
05/12/2026
05/10/2021
05/12/2021
4,865,000.00
4,843,983.20

0.00 0.00
4,843,983.20
18,784.31

0.00 22,838.47
4,054.17

0.00 0.00

0.00 4,054.17
4,054.17
02582JJT8 AMXCA 2022-2 A 3.39
05/17/2027
05/17/2022
05/24/2022
2,765,000.00
2,764,388.38

0.00 0.00
2,764,388.38
4,165.93
7,811.13
4,165.93
7,811.13

0.00 0.00

0.00 7,811.13
7,811.13
02582JKH2 AMXCA 2024-1 A 5.23
04/16/2029
04/16/2024
04/23/2024
3,070,000.00
3,069,370.65

0.00 0.00
3,069,370.65
7,136.04
13,380.08
7,136.04
13,380.08

0.00 0.00

0.00 13,380.08
13,380.08
02665WFY2 AMERICAN HONDA FINANCE
CORP 4.8 03/05/2030
03/07/2025
03/10/2025
3,500,000.00
3,483,900.00

0.00 0.00
3,483,900.00
12,133.33

0.00 26,133.33
14,000.00

0.00 0.00

0.00 14,000.00
14,000.00
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 26

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
037833ET3 APPLE INC 4.0 05/10/2028
05/08/2023
05/10/2023
1,650,000.00
1,649,083.50

0.00 0.00
1,649,083.50
25,850.00

0.00 31,350.00
5,500.00

0.00 0.00

0.00 5,500.00
5,500.00
05522RDH8 BACCT 2023-2 A 4.98
11/16/2026
03/25/2024
03/27/2024
2,000,000.00
2,006,484.38

0.00 0.00
2,006,484.38
4,426.67
8,300.00
4,426.67
8,300.00

0.00 0.00

0.00 8,300.00
8,300.00
05522RDJ4 BACCT 2024-1 A 4.93
05/15/2029
06/06/2024
06/13/2024
2,095,000.00
2,094,882.47

0.00 0.00
2,094,882.47
4,590.38
8,606.96
4,590.38
8,606.96

0.00 0.00

0.00 8,606.96
8,606.96
05602RAD3 BMWOT 2022-A A3 3.21
08/25/2026
05/10/2022
05/18/2022
171,468.29
213,635.84

0.00 (42,176.46)
171,459.38
114.30
571.51

91.74 548.94

0.00 0.00

0.00 548.94
548.94
05611UAD5 BMWLT 2024-1 A3 4.98
03/25/2027
03/25/2024
03/27/2024
1,800,000.00
1,798,382.81

0.00 0.00
1,798,382.81
1,494.00
7,470.00
1,494.00
7,470.00

0.00 0.00

0.00 7,470.00
7,470.00
06367WB85 BANK OF MONTREAL 1.85
05/01/2025
07/23/2021
07/27/2021
2,761,000.00
2,862,660.02

0.00 0.00
2,862,660.02
21,282.71

0.00 25,539.25
4,256.54

0.00 0.00

0.00 4,256.54
4,256.54
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029
06/04/2024
06/11/2024
1,855,000.00
1,854,718.23

0.00 0.00
1,854,718.23
1,601.48
8,007.42
1,601.48
8,007.42

0.00 0.00

0.00 8,007.42
8,007.42
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029
10/30/2024
11/05/2024
4,395,000.00
4,418,161.65

0.00 0.00
4,418,161.65
32,962.50

0.00 49,443.75
16,481.25

0.00 0.00

0.00 16,481.25
16,481.25
14913UAJ9

CATERPILLAR FINANCIAL
SERVICES CORP 4.85
02/27/2029
03/19/2024
03/21/2024
2,500,000.00
2,504,150.00

0.00 0.00
2,504,150.00
11,451.39

0.00 21,555.56
10,104.17

0.00 0.00

0.00 10,104.17
10,104.17
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 27

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
161571HT4 CHAIT 2023-1 A 5.16
09/15/2028
09/07/2023
09/15/2023
3,645,000.00
3,643,989.61

0.00 0.00
3,643,989.61
8,359.20
15,673.50
8,359.20
15,673.50

0.00 0.00

0.00 15,673.50
15,673.50
171239AL0 CHUBB INA HOLDINGS LLC

4.65 08/15/2029 3,700,000.00
3,722,196.12

0.00 0.00
3,722,196.12
21,984.17

0.00 36,321.67
14,337.50

0.00 0.00

0.00 14,337.50
14,337.50
17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029
02/21/2024
02/26/2024
1,960,000.00
1,959,314.00

0.00 0.00
1,959,314.00
9,241.94

0.00 17,163.61
7,921.67

0.00 0.00

0.00 7,921.67
7,921.67
22160KAM7 COSTCO WHOLESALE CORP

3.0 05/18/2027
07/15/2022
07/19/2022
2,500,000.00
2,441,975.00

0.00 0.00
2,441,975.00
27,708.33

0.00 33,958.33
6,250.00

0.00 0.00

0.00 6,250.00
6,250.00
24422EWR6 JOHN DEERE CAPITAL CORP

4.75 01/20/2028
01/23/2023
01/25/2023
2,450,000.00
2,487,705.50

0.00 0.00
2,487,705.50
22,951.74

0.00 32,649.65
9,697.92

0.00 0.00

0.00 9,697.92
9,697.92
26442CAX2 DUKE ENERGY CAROLINAS
LLC 3.95 11/15/2028
12/06/2023
12/08/2023
3,280,000.00
3,156,836.00

0.00 0.00
3,156,836.00
48,944.89

0.00 59,741.56
10,796.67

0.00 0.00

0.00 10,796.67
10,796.67
26442UAH7 DUKE ENERGY PROGRESS LLC

3.45 03/15/2029
05/10/2024
05/14/2024
1,500,000.00
1,396,687.88

0.00 0.00
1,396,687.88
2,300.00

0.00 6,612.50
4,312.50

0.00 0.00

0.00 4,312.50
4,312.50
30303M8S4 META PLATFORMS INC 4.3
08/15/2029
08/12/2024
08/15/2024
2,280,000.00
2,276,460.36

0.00 0.00
2,276,460.36
12,527.33

0.00 20,697.33
8,170.00

0.00 0.00

0.00 8,170.00
8,170.00
3130AWN63 FEDERAL HOME LOAN BANKS

4.0 06/30/2028
08/21/2023
08/23/2023
3,000,000.00
2,931,360.00

0.00 0.00
2,931,360.00
30,333.33

0.00 40,333.33
10,000.00

0.00 0.00

0.00 10,000.00
10,000.00
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 28

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3135G04Z3

FEDERAL NATIONAL
MORTGAGE ASSOCIATION 0.5
06/17/2025 1,500,000.00
6,196,731.90

0.00 (4,694,871.90)
1,501,860.00
8,955.56
8,159.72
2,791.67
1,995.83

0.00 0.00

0.00 1,995.83
1,995.83
3135G05X7

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.375 08/25/2025 6,285,000.00
6,260,439.20

0.00 0.00
6,260,439.20
2,356.88

0.00 4,320.94
1,964.06

0.00 0.00

0.00 1,964.06
1,964.06
3135G06G3

FEDERAL NATIONAL
MORTGAGE ASSOCIATION 0.5
11/07/2025 6,300,000.00
6,279,895.00

0.00 0.00
6,279,895.00
12,600.00

0.00 15,225.00
2,625.00

0.00 0.00

0.00 2,625.00
2,625.00
3137BSP72 FHMS K-058 A2 2.653
08/25/2026
11/12/2021
11/17/2021
1,500,000.00
1,586,425.78

0.00 0.00
1,586,425.78
3,316.25
3,316.25
3,316.25
3,316.25

0.00 0.00

0.00 3,316.25
3,316.25
3137BSRE5 FHMS K-059 A2 3.12
09/25/2026
02/18/2022
02/24/2022
3,000,000.00
3,128,437.50

0.00 0.00
3,128,437.50
7,800.00
7,800.00
7,800.00
7,800.00

0.00 0.00

0.00 7,800.00
7,800.00
3137EAEU9

FEDERAL HOME LOAN
MORTGAGE CORP 0.375
07/21/2025 6,300,000.00
6,277,899.60

0.00 0.00
6,277,899.60
4,593.75

0.00 6,562.50
1,968.75

0.00 0.00

0.00 1,968.75
1,968.75
3137EAEX3

FEDERAL HOME LOAN
MORTGAGE CORP 0.375
09/23/2025 6,295,000.00
6,276,346.05

0.00 0.00
6,276,346.05
524.58

0.00 2,491.77
1,967.19

0.00 0.00

0.00 1,967.19
1,967.19
3137F4D41 FHMS K-074 A2 3.6
01/25/2028
03/16/2023
03/21/2023
3,000,000.00
2,911,054.69

0.00 0.00
2,911,054.69
9,000.00
9,000.00
9,000.00
9,000.00

0.00 0.00

0.00 9,000.00
9,000.00
3137FBBX3 FHMS K-068 A2 3.244
08/25/2027
11/02/2022
11/07/2022

0.00 2,482,408.20

0.00 (2,482,408.20)

0.00 7,163.83
10,984.54

0.00 3,820.71

0.00 0.00

0.00 3,820.71
3,820.71
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 29

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3137FEBQ2 FHMS K-072 A2 3.444
12/25/2027
07/20/2023
07/25/2023

0.00 4,471,072.27

0.00 (4,471,072.27)

0.00 13,460.30
20,639.13

0.00 7,178.83

0.00 0.00

0.00 7,178.83
7,178.83
3137FETN0 FHMS K-073 A2 3.35
01/25/2028 6,000,000.00
5,707,999.69

0.00 0.00
5,707,999.69
16,750.00
16,750.00
16,750.00
16,750.00

0.00 0.00

0.00 16,750.00
16,750.00
3137FG6X8 FHMS K-077 A2 3.85
05/25/2028 5,320,000.00
5,229,125.01

0.00 0.00
5,229,125.01
17,068.33
17,068.33
17,068.33
17,068.33

0.00 0.00

0.00 17,068.33
17,068.33
3137FGR31 FHMS K-078 A2 3.854
06/25/2028
06/22/2023
06/27/2023
1,997,000.00
1,951,677.46

0.00 0.00
1,951,677.46
6,413.70
6,413.70
6,413.70
6,413.70

0.00 0.00

0.00 6,413.70
6,413.70
3137FJEH8 FHMS K-081 A2 3.9
08/25/2028
09/05/2023
09/08/2023
3,148,000.00
3,015,685.63

0.00 0.00
3,015,685.63
10,231.00
10,231.00
10,231.00
10,231.00

0.00 0.00

0.00 10,231.00
10,231.00
3137FJKE8 FHMS K-082 A2 3.92
09/25/2028
11/28/2023
12/01/2023
2,500,000.00
2,411,328.13

0.00 0.00
2,411,328.13
8,166.67
8,166.67
8,166.67
8,166.67

0.00 0.00

0.00 8,166.67
8,166.67
3137FLMV3 FHMS K-090 A2 3.422
02/25/2029
05/30/2024
06/04/2024
4,950,000.00
4,637,144.53

0.00 0.00
4,637,144.53
14,115.75
14,115.75
14,115.75
14,115.75

0.00 0.00

0.00 14,115.75
14,115.75
3137FLYV0 FHMS K-092 A2 3.298
04/25/2029
04/19/2024
04/25/2024
3,000,000.00
2,775,468.75

0.00 0.00
2,775,468.75
8,245.00
8,245.00
8,245.00
8,245.00

0.00 0.00

0.00 8,245.00
8,245.00
3137H4BY5 FHMS K-746 A2 2.031
09/25/2028
03/21/2024
03/25/2024
5,000,000.00
4,480,468.75

0.00 0.00
4,480,468.75
8,462.50
8,462.50
8,462.50
8,462.50

0.00 0.00

0.00 8,462.50
8,462.50
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 30

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3137H5YC5 FHMS K-748 A2 2.26
01/25/2029 8,000,000.00
7,168,164.07

0.00 0.00
7,168,164.07
15,066.67
15,066.66
15,066.67
15,066.66

0.00 0.00

0.00 15,066.66
15,066.66
362554AC1 GMCAR 2021-4 A3 0.68
09/16/2026
10/13/2021
10/21/2021
52,487.22
80,431.57

0.00 (27,945.69)
52,485.88

22.79 45.58

14.87 37.66

0.00 0.00

0.00 37.66

37.66 36268GAD7 GMCAR 2024-1 A3 4.85
12/18/2028
03/25/2024
03/27/2024
1,985,000.00
1,980,890.43

0.00 0.00
1,980,890.43
4,011.35
8,022.71
4,011.35
8,022.71

0.00 0.00

0.00 8,022.71
8,022.71
36269WAD1 GMALT 2024-2 A3 5.39
07/20/2027
05/07/2024
05/16/2024
1,495,000.00
1,494,913.14

0.00 0.00
1,494,913.14
2,462.18
6,715.05
2,462.18
6,715.05

0.00 0.00

0.00 6,715.05
6,715.05
380146AC4 GMCAR 2022-1 A3 1.26
11/16/2026
01/11/2022
01/19/2022
69,493.85
96,939.89

0.00 (27,452.07)
69,487.81

50.90 101.80

36.48 87.39

0.00 0.00

0.00 87.39

87.39 40139LBC6 GUARDIAN LIFE GLOBAL
FUNDING 0.875 12/10/2025 3,000,000.00
2,969,700.00

0.00 0.00
2,969,700.00
8,093.75

0.00 10,281.25
2,187.50

0.00 0.00

0.00 2,187.50
2,187.50
40139LBJ1 GUARDIAN LIFE GLOBAL
FUNDING 4.179 09/26/2029
09/23/2024
09/26/2024
3,050,000.00
3,050,000.00

0.00 0.00
3,050,000.00
1,770.27

0.00 12,391.90
10,621.63

0.00 0.00

0.00 10,621.63
10,621.63
437076DC3 HOME DEPOT INC 4.75
06/25/2029
06/20/2024
06/25/2024
3,000,000.00
2,987,610.00

0.00 0.00
2,987,610.00
38,000.00

0.00 49,875.00
11,875.00

0.00 0.00

0.00 11,875.00
11,875.00
437918AC9 HAROT 2024-1 A3 5.21
08/15/2028
02/13/2024
02/21/2024
3,435,000.00
3,434,850.58

0.00 0.00
3,434,850.58
7,953.93
14,913.63
7,953.93
14,913.63

0.00 0.00

0.00 14,913.63
14,913.63
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 31

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
437930AC4 HAROT 2024-2 A3 5.27
11/20/2028
05/14/2024
05/21/2024
1,415,000.00
1,414,828.08

0.00 0.00
1,414,828.08
2,692.82
6,214.21
2,692.82
6,214.21

0.00 0.00

0.00 6,214.21
6,214.21
43815BAC4 HAROT 2022-1 A3 1.88
05/15/2026
02/15/2022
02/23/2022
231,515.86
302,981.94

0.00 (71,500.90)
231,481.04
253.20
474.74
193.44
414.99

0.00 0.00

0.00 414.99
414.99
43815GAC3 HAROT 2021-4 A3 0.88
01/21/2026
11/16/2021
11/24/2021
17,853.71
52,443.78

0.00 (34,593.83)
17,849.95

12.82 38.47

4.36 30.01

0.00 0.00

0.00 30.01

30.01 448973AD9 HART 2024-A A3 4.99
02/15/2029
03/26/2024
03/28/2024
2,000,000.00
2,000,781.25

0.00 0.00
2,000,781.25
4,435.56
8,316.67
4,435.56
8,316.67

0.00 0.00

0.00 8,316.67
8,316.67
448977AD0 HART 2022-A A3 2.22
10/15/2026
03/09/2022
03/16/2022
198,005.35
258,397.49

0.00 (60,399.77)
197,997.72
254.96
478.05
195.37
418.45

0.00 0.00

0.00 418.45
418.45
44934FAD7 HALST 2024-B A3 5.41
05/17/2027
05/14/2024
05/22/2024
1,615,000.00
1,614,955.10

0.00 0.00
1,614,955.10
3,883.18
7,280.96
3,883.18
7,280.96

0.00 0.00

0.00 7,280.96
7,280.96
44935CAD3 HART 2025-A A3 4.32
10/15/2029
03/04/2025
03/12/2025
2,625,000.00
2,624,612.81

0.00 0.00
2,624,612.81
5,985.00
10,395.00
5,040.00
9,450.00

0.00 0.00

0.00 9,450.00
9,450.00
44935WAD9 HALST 2025-A A3 4.83
01/18/2028
01/14/2025
01/22/2025
2,090,000.00
2,089,843.46

0.00 0.00
2,089,843.46
4,486.53
8,412.25
4,486.53
8,412.25

0.00 0.00

0.00 8,412.25
8,412.25
4581X0DV7

INTER-AMERICAN
DEVELOPMENT BANK 0.875
04/20/2026
04/13/2021
04/20/2021
6,390,000.00
6,360,733.80

0.00 0.00
6,360,733.80
25,005.31
27,956.25
1,708.44
4,659.38

0.00 0.00

0.00 4,659.38
4,659.38
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 32

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
459058JL8

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 0.5 10/28/2025 6,300,000.00
6,272,360.85

0.00 0.00
6,272,360.85
13,387.50
15,750.00
262.50
2,625.00

0.00 0.00

0.00 2,625.00
2,625.00
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
12/12/2024
12/13/2024
4,500,000.00
4,426,740.00

0.00 0.00
4,426,740.00
79,921.88
87,210.00
7,265.63
14,553.75

0.00 0.00

0.00 14,553.75
14,553.75
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
03/14/2025
03/20/2025
4,500,000.00
4,484,700.00

0.00 0.00
4,484,700.00
5,671.88

0.00 21,140.63
15,468.75

0.00 0.00

0.00 15,468.75
15,468.75
46647PAM8 JPMORGAN CHASE & CO

3.509 01/23/2029
01/18/2024
01/23/2024
3,300,000.00
3,116,157.00

0.00 0.00
3,116,157.00
21,872.77

0.00 31,522.52
9,649.75

0.00 0.00

0.00 9,649.75
9,649.75
46647PBK1 JPMORGAN CHASE & CO

2.083 04/22/2026
05/20/2021
05/24/2021

0.00 1,037,330.00

0.00 (1,037,330.00)

0.00 9,199.92
10,415.00

0.00 1,215.08

0.00 0.00

0.00 1,215.08
1,215.08
47786WAD2 JDOT 2024-B A3 5.2
03/15/2029
06/11/2024
06/18/2024
2,100,000.00
2,099,589.45

0.00 0.00
2,099,589.45
4,853.33
9,100.00
4,853.33
9,100.00

0.00 0.00

0.00 9,100.00
9,100.00
47787JAC2 JDOT 2022 A3 2.32
09/15/2026
03/10/2022
03/16/2022
165,612.55
194,070.04

0.00 (28,494.13)
165,575.91
200.15
375.28
170.76
345.89

0.00 0.00

0.00 345.89
345.89
47789QAC4 JDOT 2021-B A3 0.52
03/16/2026
07/13/2021
07/21/2021

0.00 27,940.23

0.00 (27,940.23)

0.00 6.46

12.11 0.00

5.65 0.00

0.00 0.00

5.65 5.65
47800CAC0 JDOT 2023 A3 5.01
11/15/2027
02/22/2023
03/02/2023
1,536,538.09
1,628,689.24

0.00 (92,431.11)
1,536,258.13
3,627.21
6,801.02
3,421.36
6,595.17

0.00 0.00

0.00 6,595.17
6,595.17
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 33

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
47800DAD6 JDOT 2025 A3 4.23
09/17/2029
03/04/2025
03/11/2025
2,080,000.00
2,079,869.17

0.00 0.00
2,079,869.17
5,627.56
8,309.60
3,910.40
6,592.44

0.00 0.00

0.00 6,592.44
6,592.44
532457CK2 ELI LILLY AND CO 4.5
02/09/2029
02/07/2024
02/09/2024

0.00 2,708,211.40

0.00 (2,708,211.40)

0.00 17,615.00
22,357.50

0.00 4,742.50

0.00 0.00

0.00 4,742.50
4,742.50
57629W4T4 MASSMUTUAL GLOBAL
FUNDING II 5.15 05/30/2029
05/22/2024
05/30/2024
1,850,000.00
1,848,464.50

0.00 0.00
1,848,464.50
32,022.99

0.00 39,962.57
7,939.58

0.00 0.00

0.00 7,939.58
7,939.58
57629W5B2 MASSMUTUAL GLOBAL
FUNDING II 4.85 01/17/2029
01/09/2024
01/17/2024
2,140,000.00
2,139,721.80

0.00 0.00
2,139,721.80
21,334.61

0.00 29,983.78
8,649.17

0.00 0.00

0.00 8,649.17
8,649.17
57629WDE7 MASSMUTUAL GLOBAL
FUNDING II 1.2 07/16/2026
08/10/2021
08/12/2021
2,272,000.00
2,271,369.92

0.00 0.00
2,271,369.92
5,680.00

0.00 7,952.00
2,272.00

0.00 0.00

0.00 2,272.00
2,272.00
57636QAW4 MASTERCARD INC 4.875
03/09/2028
03/06/2023
03/09/2023
2,090,000.00
2,087,972.70

0.00 0.00
2,087,972.70
6,226.46

0.00 14,717.08
8,490.63

0.00 0.00

0.00 8,490.63
8,490.63
58770JAD6 MBALT 2024-A A3 5.32
01/18/2028
05/17/2024
05/23/2024
1,085,000.00
1,084,873.06

0.00 0.00
1,084,873.06
2,565.42
4,810.17
2,565.42
4,810.17

0.00 0.00

0.00 4,810.17
4,810.17
58933YBH7 MERCK & CO INC 4.05
05/17/2028
05/08/2023
05/17/2023
1,975,000.00
1,975,392.25

0.00 0.00
1,975,392.25
29,773.13

0.00 36,438.75
6,665.63

0.00 0.00

0.00 6,665.63
6,665.63
58989V2D5 MET TOWER GLOBAL
FUNDING 1.25 09/14/2026
09/07/2021
09/14/2021
1,715,000.00
1,713,422.20

0.00 0.00
1,713,422.20
1,012.33

0.00 2,798.78
1,786.46

0.00 0.00

0.00 1,786.46
1,786.46
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 34

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
58989V2H6 MET TOWER GLOBAL
FUNDING 5.25 04/12/2029
05/24/2024
05/29/2024
2,000,000.00
1,998,260.00

0.00 0.00
1,998,260.00
49,291.67
52,500.00
5,541.67
8,750.00

0.00 0.00

0.00 8,750.00
8,750.00
59217GER6 METROPOLITAN LIFE GLOBAL
FUNDING I 1.875 01/11/2027
01/03/2022
01/11/2022
2,485,000.00
2,482,167.10

0.00 0.00
2,482,167.10
10,354.17

0.00 14,236.98
3,882.81

0.00 0.00

0.00 3,882.81
3,882.81
61747YFA8 MORGAN STANLEY 5.123
02/01/2029
02/13/2024
02/15/2024
2,650,000.00
2,632,165.50

0.00 0.00
2,632,165.50
22,626.58

0.00 33,939.88
11,313.29

0.00 0.00

0.00 11,313.29
11,313.29
63743HFN7

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.85 02/07/2029
03/19/2024
03/21/2024
2,500,000.00
2,481,775.00

0.00 0.00
2,481,775.00
18,187.50

0.00 28,291.67
10,104.17

0.00 0.00

0.00 10,104.17
10,104.17
64952WFG3 NEW YORK LIFE GLOBAL
FUNDING 5.0 06/06/2029
06/03/2024
06/06/2024
2,120,000.00
2,115,929.60

0.00 0.00
2,115,929.60
33,861.11

0.00 42,694.44
8,833.33

0.00 0.00

0.00 8,833.33
8,833.33
64952WFK4 NEW YORK LIFE GLOBAL
FUNDING 4.6 12/05/2029
12/02/2024
12/05/2024
3,445,000.00
3,443,036.35

0.00 0.00
3,443,036.35
51,062.56

0.00 64,268.39
13,205.83

0.00 0.00

0.00 13,205.83
13,205.83
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027
05/05/2022
05/10/2022
1,345,000.00
1,342,821.10

0.00 0.00
1,342,821.10
21,071.67

0.00 25,555.00
4,483.33

0.00 0.00

0.00 4,483.33
4,483.33
66815L2Q1

NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.71
01/10/2029
01/10/2024
2,400,000.00
2,404,556.16

0.00 0.00
2,404,556.16
25,434.00

0.00 34,854.00
9,420.00

0.00 0.00

0.00 9,420.00
9,420.00
69371RS64 PACCAR FINANCIAL CORP

4.95 08/10/2028
08/03/2023
08/10/2023
1,670,000.00
1,667,361.40

0.00 0.00
1,667,361.40
11,710.88

0.00 18,599.63
6,888.75

0.00 0.00

0.00 6,888.75
6,888.75
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 35

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
713448FX1 PEPSICO INC 4.5 07/17/2029
07/15/2024
07/17/2024

0.00 3,769,148.75

0.00 (3,769,148.75)

0.00 34,918.75
41,525.00

0.00 6,606.25

0.00 0.00

0.00 6,606.25
6,606.25
74340XCG4 PROLOGIS LP 4.875
06/15/2028 4,000,000.00
3,959,713.70

0.00 0.00
3,959,713.70
57,416.67

0.00 73,666.67
16,250.00

0.00 0.00

0.00 16,250.00
16,250.00
74456QBX3

PUBLIC SERVICE ELECTRIC
AND GAS CO 3.65
09/01/2028
09/12/2023
09/14/2023
3,000,000.00
2,805,270.00

0.00 0.00
2,805,270.00
9,125.00

0.00 18,250.00
9,125.00

0.00 0.00

0.00 9,125.00
9,125.00
74460DAD1 PUBLIC STORAGE OPERATING
CO 3.385 05/01/2029 3,000,000.00
2,762,330.00

0.00 0.00
2,762,330.00
42,312.50

0.00 50,775.00
8,462.50

0.00 0.00

0.00 8,462.50
8,462.50
756109AU8 REALTY INCOME CORP 3.65
01/15/2028 4,500,000.00
4,242,810.00

0.00 0.00
4,242,810.00
34,675.00

0.00 48,362.50
13,687.50

0.00 0.00

0.00 13,687.50
13,687.50
78016HZS2 ROYAL BANK OF CANADA 5.2
08/01/2028
09/12/2023
09/14/2023
3,500,000.00
3,454,675.00

0.00 0.00
3,454,675.00
30,333.33

0.00 45,500.00
15,166.67

0.00 0.00

0.00 15,166.67
15,166.67
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027
03/09/2022
03/11/2022
1,300,000.00
1,282,866.00

0.00 0.00
1,282,866.00
2,477.22

0.00 5,131.39
2,654.17

0.00 0.00

0.00 2,654.17
2,654.17
880591EZ1

TENNESSEE VALLEY
AUTHORITY 3.875
03/15/2028
05/04/2023
05/05/2023
3,500,000.00
3,548,755.00

0.00 0.00
3,548,755.00
6,027.78

0.00 17,329.86
11,302.08

0.00 0.00

0.00 11,302.08
11,302.08
89114TZT2 TORONTO-DOMINION BANK

2.8 03/10/2027
03/09/2022
03/11/2022
1,900,000.00
1,884,933.00

0.00 0.00
1,884,933.00
3,103.33

0.00 7,536.67
4,433.33

0.00 0.00

0.00 4,433.33
4,433.33
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 36

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
89115A2C5 TORONTO-DOMINION BANK

4.108 06/08/2027
08/26/2022
08/30/2022
1,400,000.00
1,395,310.00

0.00 0.00
1,395,310.00
18,052.38

0.00 22,845.04
4,792.67

0.00 0.00

0.00 4,792.67
4,792.67
89115A2Y7 TORONTO-DOMINION BANK

4.994 04/05/2029
03/26/2024
04/05/2024
2,330,000.00
2,330,000.00

0.00 0.00
2,330,000.00
56,887.21
58,180.10
8,403.79
9,696.68

0.00 0.00

0.00 9,696.68
9,696.68
89236TJK2 TOYOTA MOTOR CREDIT
CORP 1.125 06/18/2026
06/15/2021
06/18/2021
3,325,000.00
3,323,537.00

0.00 0.00
3,323,537.00
10,702.34

0.00 13,819.53
3,117.19

0.00 0.00

0.00 3,117.19
3,117.19
89236TNA9 TOYOTA MOTOR CREDIT
CORP 4.95 01/09/2030
01/06/2025
01/09/2025
3,655,000.00
3,647,178.30

0.00 0.00
3,647,178.30
41,210.13

0.00 56,287.00
15,076.88

0.00 0.00

0.00 15,076.88
15,076.88
89238JAC9 TAOT 2021-D A3 0.71
04/15/2026
11/09/2021
11/15/2021
20,814.68
54,783.47

0.00 (33,969.24)
20,814.24

17.29 32.41

6.57 21.69

0.00 0.00

0.00 21.69

21.69 91282CAT8 UNITED STATES TREASURY

0.25 10/31/2025
02/19/2021
02/22/2021
6,000,000.00
5,923,125.00

0.00 0.00
5,923,125.00
6,298.34
7,500.00

40.76 1,242.42

0.00 0.00

0.00 1,242.42
1,242.42
91282CAZ4 UNITED STATES TREASURY

0.375 11/30/2025
03/26/2021
03/29/2021

0.00 3,368,501.17

0.00 (3,368,501.17)

0.00 4,311.06
5,053.13

0.00 742.07

0.00 0.00

0.00 742.07
742.07
91282CCW9 UNITED STATES TREASURY

0.75 08/31/2026
09/23/2021
09/24/2021
1,570,000.00
1,558,899.61

0.00 0.00
1,558,899.61
1,023.91

0.00 1,983.83
959.92

0.00 0.00

0.00 959.92
959.92
91282CCZ2 UNITED STATES TREASURY

0.875 09/30/2026
10/18/2021
10/19/2021
3,130,000.00
3,083,172.27

0.00 0.00
3,083,172.27

74.83 0.00
2,319.71
2,244.88

0.00 0.00

0.00 2,244.88
2,244.88
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 37

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CDG3 UNITED STATES TREASURY

1.125 10/31/2026
11/15/2021
11/17/2021
3,120,000.00
3,100,987.50

0.00 0.00
3,100,987.50
14,738.12
17,550.00

95.38 2,907.26

0.00 0.00

0.00 2,907.26
2,907.26
91282CET4 UNITED STATES TREASURY

2.625 05/31/2027
06/09/2022
06/10/2022

0.00 2,351,156.25

0.00 (2,351,156.25)

0.00 21,115.38
24,576.92

0.00 3,461.54

0.00 0.00

0.00 3,461.54
3,461.54
91282CEW7 UNITED STATES TREASURY

3.25 06/30/2027 6,650,000.00
6,690,380.86

0.00 0.00
6,690,380.86
54,329.77

0.00 72,240.68
17,910.91

0.00 0.00

0.00 17,910.91
17,910.91
91282CFB2 UNITED STATES TREASURY

2.75 07/31/2027
08/22/2022
08/23/2022
1,300,000.00
1,277,960.94

0.00 0.00
1,277,960.94
5,925.41

0.00 8,888.12
2,962.71

0.00 0.00

0.00 2,962.71
2,962.71
91282CFH9 UNITED STATES TREASURY

3.125 08/31/2027 3,450,000.00
3,399,517.58

0.00 0.00
3,399,517.58
9,375.00

0.00 18,164.06
8,789.06

0.00 0.00

0.00 8,789.06
8,789.06
91282CFM8 UNITED STATES TREASURY

4.125 09/30/2027 2,800,000.00
2,770,000.01

0.00 0.00
2,770,000.01
315.57

0.00 9,782.79
9,467.21

0.00 0.00

0.00 9,467.21
9,467.21
91282CFZ9 UNITED STATES TREASURY

3.875 11/30/2027 4,600,000.00
4,628,085.94

0.00 0.00
4,628,085.94
59,743.13

0.00 74,434.07
14,690.93

0.00 0.00

0.00 14,690.93
14,690.93
91282CGC9 UNITED STATES TREASURY

3.875 12/31/2027 7,000,000.00
7,028,945.31

0.00 0.00
7,028,945.31
68,187.15

0.00 90,666.44
22,479.28

0.00 0.00

0.00 22,479.28
22,479.28
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028
02/16/2023
02/17/2023
7,000,000.00
6,828,007.81

0.00 0.00
6,828,007.81
40,607.73

0.00 60,911.60
20,303.87

0.00 0.00

0.00 20,303.87
20,303.87
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 38

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028
02/23/2023
02/28/2023
7,000,000.00
6,949,960.94

0.00 0.00
6,949,960.94
24,347.83

0.00 47,173.91
22,826.09

0.00 0.00

0.00 22,826.09
22,826.09
91282CHE4 UNITED STATES TREASURY

3.625 05/31/2028
06/14/2023
06/20/2023
7,000,000.00
6,884,335.94

0.00 0.00
6,884,335.94
85,048.08

0.00 105,961.54
20,913.46

0.00 0.00

0.00 20,913.46
20,913.46
91282CHX2 UNITED STATES TREASURY

4.375 08/31/2028
09/25/2023
09/26/2023
1,900,000.00
1,879,960.94

0.00 0.00
1,879,960.94
7,228.26

0.00 14,004.76
6,776.49

0.00 0.00

0.00 6,776.49
6,776.49
91282CJA0 UNITED STATES TREASURY

4.625 09/30/2028
10/04/2023
10/05/2023
5,800,000.00
5,763,296.88

0.00 0.00
5,763,296.88
732.92

0.00 22,720.63
21,987.70

0.00 0.00

0.00 21,987.70
21,987.70
91282CJF9 UNITED STATES TREASURY

4.875 10/31/2028
10/27/2023
10/31/2023
2,000,000.00
2,007,578.13

0.00 0.00
2,007,578.13
40,939.23
48,750.00
264.95
8,075.72

0.00 0.00

0.00 8,075.72
8,075.72
91282CJN2 UNITED STATES TREASURY

4.375 11/30/2028
12/28/2023
12/29/2023
3,400,000.00
3,482,875.00

0.00 0.00
3,482,875.00
49,855.77

0.00 62,115.38
12,259.62

0.00 0.00

0.00 12,259.62
12,259.62
91282CJR3 UNITED STATES TREASURY

3.75 12/31/2028 11,000,000.00
10,883,007.81

0.00 0.00
10,883,007.81
103,694.75

0.00 137,879.83
34,185.08

0.00 0.00

0.00 34,185.08
34,185.08
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029
02/13/2024
02/14/2024
5,000,000.00
4,943,164.06

0.00 0.00
4,943,164.06
33,149.17

0.00 49,723.76
16,574.59

0.00 0.00

0.00 16,574.59
16,574.59
91282CKD2 UNITED STATES TREASURY

4.25 02/28/2029
02/27/2024
02/29/2024
7,000,000.00
6,985,234.38

0.00 0.00
6,985,234.38
25,869.57

0.00 50,122.28
24,252.72

0.00 0.00

0.00 24,252.72
24,252.72
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 39

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CKG5 UNITED STATES TREASURY

4.125 03/31/2029
04/10/2024
04/12/2024
7,000,000.00
6,848,515.63

0.00 0.00
6,848,515.63
788.93

0.00 24,456.97
23,668.03

0.00 0.00

0.00 23,668.03
23,668.03
91282CKP5 UNITED STATES TREASURY

4.625 04/30/2029 7,000,000.00
7,043,730.48

0.00 0.00
7,043,730.48
135,939.23
161,875.00
879.76
26,815.53

0.00 0.00

0.00 26,815.53
26,815.53
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029
06/20/2024
06/21/2024
4,400,000.00
4,445,375.00

0.00 0.00
4,445,375.00
66,362.64

0.00 82,681.32
16,318.68

0.00 0.00

0.00 16,318.68
16,318.68
91282CKX8 UNITED STATES TREASURY

4.25 06/30/2029
07/18/2024
07/19/2024
4,000,000.00
4,028,281.25

0.00 0.00
4,028,281.25
42,734.81

0.00 56,823.20
14,088.40

0.00 0.00

0.00 14,088.40
14,088.40
91282CLK5 UNITED STATES TREASURY

3.625 08/31/2029
09/11/2024
09/13/2024
8,000,000.00
8,062,812.50

0.00 0.00
8,062,812.50
25,217.39

0.00 48,858.70
23,641.30

0.00 0.00

0.00 23,641.30
23,641.30
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 8,500,000.00
8,437,500.00

0.00 0.00
8,437,500.00
812.84

0.00 25,198.09
24,385.25

0.00 0.00

0.00 24,385.25
24,385.25
91282CMA6 UNITED STATES TREASURY

4.125 11/30/2029
12/16/2024
12/17/2024
4,500,000.00
4,474,160.16

0.00 0.00
4,474,160.16
62,214.97

0.00 77,513.74
15,298.76

0.00 0.00

0.00 15,298.76
15,298.76
91282CMG3 UNITED STATES TREASURY

4.25 01/31/2030
02/07/2025
02/10/2025
4,500,000.00
4,483,300.78

0.00 0.00
4,483,300.78
31,698.90

0.00 47,548.34
15,849.45

0.00 0.00

0.00 15,849.45
15,849.45
91324PEC2 UNITEDHEALTH GROUP INC

1.15 05/15/2026 805,000.00
807,605.05

0.00 0.00
807,605.05
3,497.28

0.00 4,268.74
771.46

0.00 0.00

0.00 771.46
771.46
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 40

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91324PEG3 UNITEDHEALTH GROUP INC

3.7 05/15/2027
05/17/2022
05/20/2022
1,365,000.00
1,365,638.40

0.00 0.00
1,365,638.40
19,079.67

0.00 23,288.42
4,208.75

0.00 0.00

0.00 4,208.75
4,208.75
91324PEP3 UNITEDHEALTH GROUP INC

5.25 02/15/2028
02/16/2023
02/21/2023
1,500,000.00
1,532,220.00

0.00 0.00
1,532,220.00
10,062.50

0.00 16,625.00
6,562.50

0.00 0.00

0.00 6,562.50
6,562.50
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029
10/17/2024
10/24/2024
2,330,000.00
2,329,653.76

0.00 0.00
2,329,653.76
4,442.53
8,329.75
4,442.53
8,329.75

0.00 0.00

0.00 8,329.75
8,329.75
931142ER0 WALMART INC 1.05
09/17/2026
09/08/2021
09/17/2021
785,000.00
783,516.35

0.00 0.00
783,516.35
320.54

0.00 1,007.42
686.88

0.00 0.00

0.00 686.88
686.88
Total Fixed Income 409,566,789.59
430,299,731.06

0.00 (25,329,603.37)
404,970,127.68
2,525,550.14
924,618.21
2,807,846.06
1,206,914.13

0.00 0.00

0.00 1,206,914.13 1,206,914.13
LAIF
90LAIF$00 Local Agency Investment
Fund State Pool 19,701,691.86
24,953,884.12
33,747,807.74
(39,000,000.00)
19,701,691.86

0.00 347,807.74

0.00 347,807.74

0.00 0.00

0.00 347,807.74
347,807.74
Total LAIF 19,701,691.86
24,953,884.12
33,747,807.74
(39,000,000.00)
19,701,691.86

0.00 347,807.74

0.00 347,807.74

0.00 0.00

0.00 347,807.74 347,807.74
TOTAL PORTFOLIO 432,082,341.32
456,902,857.86
60,181,307.35
(89,329,603.37)
427,485,679.41
2,525,550.14
1,287,708.26
2,807,846.06
1,570,004.18

0.00 0.00

0.00 1,570,004.18 1,570,004.18
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 41

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount MAY 2025
05/01/2025 Coupon 06367WB85 0.00 BANK OF MONTREAL 1.85 05/01/2025 25,539.25 25,539.25 05/01/2025 Maturity 06367WB85 (2,761,000.00) BANK OF MONTREAL 1.85 05/01/2025 2,761,000.00 2,761,000.00 05/01/2025 Coupon 74460DAD1 0.00 PUBLIC STORAGE OPERATING CO 3.385 05/01/2029 50,775.00 50,775.00
05/02/2025 Dividend 60934N807 0.00 17,414.42 17,414.42
05/07/2025 Coupon 3135G06G3 0.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.5 11/07/2025 15,750.00 15,750.00
05/12/2025 Coupon 023135BX3 0.00 AMAZON.COM INC 1.0 05/12/2026 24,325.00 24,325.00 05/12/2025 Coupon 037833ET3 0.00 APPLE INC 4.0 05/10/2028 33,000.00 33,000.00 05/12/2025 Coupon 665859AW4 0.00 NORTHERN TRUST CORP 4.0 05/10/2027 26,900.00 26,900.00 05/15/2025 Coupon 02582JJT8 0.00 AMXCA 2022-2 A 3.39 05/17/2027 7,811.13 7,811.13 05/15/2025 Maturity 02582JJT8 0.00 AMXCA 2022-2 A 3.39 05/17/2027 0.00 0.00 05/15/2025 Principal Paydown 02582JJT8 (2,765,000.00) AMXCA 2022-2 A 3.39 05/17/2027 2,765,000.00 2,765,000.00 05/15/2025 Coupon 02582JKH2 0.00 AMXCA 2024-1 A 5.23 04/16/2029 13,380.08 13,380.08 05/15/2025 Coupon 05522RDH8 0.00 BACCT 2023-2 A 4.98 11/16/2026 8,300.00 8,300.00 05/15/2025 Coupon 05522RDJ4 0.00 BACCT 2024-1 A 4.93 05/15/2029 8,606.96 8,606.96 05/15/2025 Coupon 161571HT4 0.00 CHAIT 2023-1 A 5.16 09/15/2028 15,673.50 15,673.50 05/15/2025 Coupon 26442CAX2 0.00 DUKE ENERGY CAROLINAS LLC 3.95 11/15/2028 64,780.00 64,780.00
05/15/2025 Coupon 44934FAD7 0.00 HALST 2024-B A3 5.41 05/17/2027 7,280.96 7,280.96 05/15/2025 Coupon 44935WAD9 0.00 HALST 2025-A A3 4.83 01/18/2028 8,412.25 8,412.25 05/15/2025 Coupon 43815BAC4 0.00 HAROT 2022-1 A3 1.88 05/15/2026 362.71 362.71 05/15/2025 Principal Paydown 43815BAC4 (66,656.08) HAROT 2022-1 A3 1.88 05/15/2026 66,656.08 66,656.08 05/15/2025 Coupon 437918AC9 0.00 HAROT 2024-1 A3 5.21 08/15/2028 14,913.63 14,913.63 05/15/2025 Coupon 448977AD0 0.00 HART 2022-A A3 2.22 10/15/2026 366.31 366.31 05/15/2025 Principal Paydown 448977AD0 (55,933.35) HART 2022-A A3 2.22 10/15/2026 55,933.35 55,933.35 05/15/2025 Coupon 448973AD9 0.00 HART 2024-A A3 4.99 02/15/2029 8,316.67 8,316.67 05/15/2025 Coupon 44935CAD3 0.00 HART 2025-A A3 4.32 10/15/2029 9,450.00 9,450.00 05/15/2025 Coupon 47787JAC2 0.00 JDOT 2022 A3 2.32 09/15/2026 320.18 320.18 05/15/2025 Principal Paydown 47787JAC2 (37,595.54) JDOT 2022 A3 2.32 09/15/2026 37,595.54 37,595.54 05/15/2025 Coupon 47800CAC0 0.00 JDOT 2023 A3 5.01 11/15/2027 6,415.05 6,415.05 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 42

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/15/2025 Principal Paydown 47800CAC0 (127,325.42) JDOT 2023 A3 5.01 11/15/2027 127,325.42 127,325.42 05/15/2025 Coupon 47786WAD2 0.00 JDOT 2024-B A3 5.2 03/15/2029 9,100.00 9,100.00 05/15/2025 Coupon 47800DAD6 0.00 JDOT 2025 A3 4.23 09/17/2029 7,332.00 7,332.00 05/15/2025 Coupon 58770JAD6 0.00 MBALT 2024-A A3 5.32 01/18/2028 4,810.17 4,810.17 05/15/2025 Coupon 89238JAC9 0.00 TAOT 2021-D A3 0.71 04/15/2026 12.32 12.32 05/15/2025 Principal Paydown 89238JAC9 (20,814.68) TAOT 2021-D A3 0.71 04/15/2026 20,814.68 20,814.68 05/15/2025 Coupon 91324PEC2 0.00 UNITEDHEALTH GROUP INC 1.15 05/15/2026 4,628.75 4,628.75 05/15/2025 Coupon 91324PEG3 0.00 UNITEDHEALTH GROUP INC 3.7 05/15/2027 25,252.50 25,252.50 05/15/2025 Coupon 92970QAE5 0.00 WFCIT 2024-2 A 4.29 10/15/2029 8,329.75 8,329.75 05/16/2025 Coupon 362554AC1 0.00 GMCAR 2021-4 A3 0.68 09/16/2026 29.74 29.74 05/16/2025 Principal Paydown 362554AC1 (25,673.17) GMCAR 2021-4 A3 0.68 09/16/2026 25,673.17 25,673.17 05/16/2025 Coupon 380146AC4 0.00 GMCAR 2022-1 A3 1.26 11/16/2026 72.97 72.97 05/16/2025 Principal Paydown 380146AC4 (25,040.39) GMCAR 2022-1 A3 1.26 11/16/2026 25,040.39 25,040.39 05/16/2025 Coupon 36268GAD7 0.00 GMCAR 2024-1 A3 4.85 12/18/2028 8,022.71 8,022.71 05/19/2025 Coupon 22160KAM7 0.00 COSTCO WHOLESALE CORP 3.0 05/18/2027 37,500.00 37,500.00 05/19/2025 Coupon 437930AC4 0.00 HAROT 2024-2 A3 5.27 11/20/2028 6,214.21 6,214.21 05/19/2025 Coupon 58933YBH7 0.00 MERCK & CO INC 4.05 05/17/2028 39,993.75 39,993.75 05/21/2025 Coupon 43815GAC3 17,853.71 HAROT 2021-4 A3 0.88 01/21/2026 13.09 13.09 05/21/2025 Effective Maturity 43815GAC3 17,853.71 HAROT 2021-4 A3 0.88 01/21/2026 17,853.71 17,853.71 05/26/2025 Coupon 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 467.34 467.34 05/26/2025 Principal Paydown 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 37,397.96 37,397.96 05/26/2025 Coupon 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 7,470.00 7,470.00 05/26/2025 Coupon 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 8,007.42 8,007.42 05/27/2025 Coupon 3137BSP72 1,500,000.00 FHMS K-058 A2 2.653 08/25/2026 3,316.25 3,316.25 05/27/2025 Coupon 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 7,800.00 7,800.00 05/27/2025 Coupon 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 9,000.00 9,000.00 05/27/2025 Coupon 3137FETN0 6,000,000.00 FHMS K-073 A2 3.35 01/25/2028 16,750.00 16,750.00 05/27/2025 Coupon 3137FG6X8 5,320,000.00 FHMS K-077 A2 3.85 05/25/2028 17,068.33 17,068.33 05/27/2025 Coupon 3137FGR31 1,997,000.00 FHMS K-078 A2 3.854 06/25/2028 6,413.70 6,413.70 05/27/2025 Coupon 3137FJEH8 3,148,000.00 FHMS K-081 A2 3.9 08/25/2028 10,231.00 10,231.00 05/27/2025 Coupon 3137FJKE8 2,500,000.00 FHMS K-082 A2 3.92 09/25/2028 8,166.67 8,166.67 05/27/2025 Coupon 3137FLMV3 4,950,000.00 FHMS K-090 A2 3.422 02/25/2029 14,115.75 14,115.75 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 43

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/27/2025 Coupon 3137FLYV0 3,000,000.00 FHMS K-092 A2 3.298 04/25/2029 8,245.00 8,245.00 05/27/2025 Coupon 3137H4BY5 5,000,000.00 FHMS K-746 A2 2.031 09/25/2028 8,462.50 8,462.50 05/27/2025 Coupon 3137H5YC5 8,000,000.00 FHMS K-748 A2 2.26 01/25/2029 15,066.67 15,066.67 05/30/2025 Coupon 57629W4T4 1,850,000.00 MASSMUTUAL GLOBAL FUNDING II 5.15 05/30/2029 47,637.50 47,637.50
May 2025 Total 5,957,704.72 690,208.77 6,647,913.49
JUNE 2025
06/02/2025 Coupon 91282CFZ9 4,600,000.00 UNITED STATES TREASURY 3.875 11/30/2027 89,125.00 89,125.00 06/02/2025 Coupon 91282CHE4 7,000,000.00 UNITED STATES TREASURY 3.625 05/31/2028 126,875.00 126,875.00 06/02/2025 Coupon 91282CJN2 3,400,000.00 UNITED STATES TREASURY 4.375 11/30/2028 74,375.00 74,375.00 06/02/2025 Coupon 91282CKT7 4,400,000.00 UNITED STATES TREASURY 4.5 05/31/2029 99,000.00 99,000.00 06/02/2025 Coupon 91282CMA6 4,500,000.00 UNITED STATES TREASURY 4.125 11/30/2029 92,812.50 92,812.50 06/05/2025 Coupon 64952WFK4 3,445,000.00 NEW YORK LIFE GLOBAL FUNDING 4.6 12/05/2029 79,235.00 79,235.00
06/06/2025 Coupon 64952WFG3 2,120,000.00 NEW YORK LIFE GLOBAL FUNDING 5.0 06/06/2029 53,000.00 53,000.00
06/09/2025 Coupon 89115A2C5 1,400,000.00 TORONTO-DOMINION BANK 4.108 06/08/2027 28,756.00 28,756.00 06/10/2025 Coupon 40139LBC6 3,000,000.00 GUARDIAN LIFE GLOBAL FUNDING 0.875 12/10/2025 13,125.00 13,125.00
06/16/2025 Coupon 02582JKH2 3,070,000.00 AMXCA 2024-1 A 5.23 04/16/2029 13,380.08 13,380.08 06/16/2025 Coupon 02582JKP4 3,380,000.00 AMXCA 2025-2 A 4.28 04/15/2030 12,859.02 12,859.02 06/16/2025 Coupon 05522RDH8 2,000,000.00 BACCT 2023-2 A 4.98 11/16/2026 8,300.00 8,300.00 06/16/2025 Coupon 05522RDJ4 2,095,000.00 BACCT 2024-1 A 4.93 05/15/2029 8,606.96 8,606.96 06/16/2025 Coupon 161571HT4 3,645,000.00 CHAIT 2023-1 A 5.16 09/15/2028 15,673.50 15,673.50 06/16/2025 Coupon 362554AC1 26,814.05 GMCAR 2021-4 A3 0.68 09/16/2026 31.15 31.15 06/16/2025 Principal Paydown 362554AC1 26,814.05 GMCAR 2021-4 A3 0.68 09/16/2026 23,454.21 23,454.21 06/16/2025 Coupon 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 8,022.71 8,022.71 06/16/2025 Coupon 380146AC4 44,453.46 GMCAR 2022-1 A3 1.26 11/16/2026 55.96 55.96 06/16/2025 Principal Paydown 380146AC4 44,453.46 GMCAR 2022-1 A3 1.26 11/16/2026 22,405.68 22,405.68 06/16/2025 Coupon 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 14,913.63 14,913.63 06/16/2025 Coupon 43815BAC4 164,859.78 HAROT 2022-1 A3 1.88 05/15/2026 264.96 264.96 06/16/2025 Principal Paydown 43815BAC4 164,859.78 HAROT 2022-1 A3 1.88 05/15/2026 60,911.84 60,911.84 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 44

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/16/2025 Coupon 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 8,316.67 8,316.67 06/16/2025 Coupon 448977AD0 142,072.00 HART 2022-A A3 2.22 10/15/2026 262.83 262.83 06/16/2025 Principal Paydown 448977AD0 142,072.00 HART 2022-A A3 2.22 10/15/2026 51,557.00 51,557.00 06/16/2025 Coupon 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 7,280.96 7,280.96 06/16/2025 Coupon 44935CAD3 2,625,000.00 HART 2025-A A3 4.32 10/15/2029 9,450.00 9,450.00 06/16/2025 Coupon 44935WAD9 2,090,000.00 HALST 2025-A A3 4.83 01/18/2028 8,412.25 8,412.25 06/16/2025 Coupon 47786WAD2 2,100,000.00 JDOT 2024-B A3 5.2 03/15/2029 9,100.00 9,100.00 06/16/2025 Coupon 47787JAC2 128,017.01 JDOT 2022 A3 2.32 09/15/2026 254.09 254.09 06/16/2025 Principal Paydown 47787JAC2 128,017.01 JDOT 2022 A3 2.32 09/15/2026 25,892.03 25,892.03 06/16/2025 Coupon 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 5,883.46 5,883.46 06/16/2025 Principal Paydown 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 91,183.63 91,183.63 06/16/2025 Coupon 47800DAD6 2,080,000.00 JDOT 2025 A3 4.23 09/17/2029 7,332.00 7,332.00 06/16/2025 Coupon 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,810.73 4,810.73 06/16/2025 Coupon 74340XCG4 4,000,000.00 PROLOGIS LP 4.875 06/15/2028 97,500.00 97,500.00 06/16/2025 Coupon 92970QAE5 2,330,000.00 WFCIT 2024-2 A 4.29 10/15/2029 8,329.75 8,329.75 06/17/2025 Coupon 3135G04Z3 1,500,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.5 06/17/2025 3,750.00 3,750.00
06/17/2025 Final Maturity 3135G04Z3 1,500,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.5 06/17/2025 1,500,000.00 1,500,000.00
06/18/2025 Coupon 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 6,214.21 6,214.21 06/18/2025 Coupon 89236TJK2 3,325,000.00 TOYOTA MOTOR CREDIT CORP 1.125 06/18/2026 18,703.13 18,703.13
06/20/2025 Coupon 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 6,715.04 6,715.04 06/25/2025 Coupon 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 367.30 367.30 06/25/2025 Principal Paydown 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 36,453.88 36,453.88 06/25/2025 Coupon 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 7,470.00 7,470.00 06/25/2025 Coupon 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 8,007.42 8,007.42 06/25/2025 Coupon 3137BSP72 1,500,000.00 FHMS K-058 A2 2.653 08/25/2026 3,316.25 3,316.25 06/25/2025 Coupon 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 7,800.00 7,800.00 06/25/2025 Coupon 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 9,000.00 9,000.00 06/25/2025 Coupon 3137FETN0 6,000,000.00 FHMS K-073 A2 3.35 01/25/2028 16,750.00 16,750.00 06/25/2025 Coupon 3137FG6X8 5,320,000.00 FHMS K-077 A2 3.85 05/25/2028 17,068.33 17,068.33 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 45

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/25/2025 Coupon 3137FGR31 1,997,000.00 FHMS K-078 A2 3.854 06/25/2028 6,413.70 6,413.70 06/25/2025 Coupon 3137FJEH8 3,148,000.00 FHMS K-081 A2 3.9 08/25/2028 10,231.00 10,231.00 06/25/2025 Coupon 3137FJKE8 2,500,000.00 FHMS K-082 A2 3.92 09/25/2028 8,166.67 8,166.67 06/25/2025 Coupon 3137FLMV3 4,950,000.00 FHMS K-090 A2 3.422 02/25/2029 14,115.75 14,115.75 06/25/2025 Coupon 3137FLYV0 3,000,000.00 FHMS K-092 A2 3.298 04/25/2029 8,245.00 8,245.00 06/25/2025 Coupon 3137H4BY5 5,000,000.00 FHMS K-746 A2 2.031 09/25/2028 8,462.50 8,462.50 06/25/2025 Coupon 3137H5YC5 8,000,000.00 FHMS K-748 A2 2.26 01/25/2029 15,066.67 15,066.67 06/25/2025 Coupon 437076DC3 3,000,000.00 HOME DEPOT INC 4.75 06/25/2029 71,250.00 71,250.00 06/30/2025 Coupon 3130AWN63 3,000,000.00 FEDERAL HOME LOAN BANKS 4.0 06/30/2028 60,000.00 60,000.00 06/30/2025 Coupon 91282CEW7 6,650,000.00 UNITED STATES TREASURY 3.25 06/30/2027 108,062.50 108,062.50 06/30/2025 Coupon 91282CGC9 7,000,000.00 UNITED STATES TREASURY 3.875 12/31/2027 135,625.00 135,625.00 06/30/2025 Coupon 91282CJR3 11,000,000.00 UNITED STATES TREASURY 3.75 12/31/2028 206,250.00 206,250.00 06/30/2025 Coupon 91282CKX8 4,000,000.00 UNITED STATES TREASURY 4.25 06/30/2029 85,000.00 85,000.00 June 2025 Total 1,811,858.25 1,747,394.67 3,559,252.92
JULY 2025
07/09/2025 Coupon 89236TNA9 3,655,000.00 TOYOTA MOTOR CREDIT CORP 4.95 01/09/2030 90,461.25 90,461.25 07/10/2025 Coupon 66815L2Q1 2,400,000.00 NORTHWESTERN MUTUAL GLOBAL FUNDING

4.71 01/10/2029 56,520.00 56,520.00
07/11/2025 Coupon 59217GER6 2,485,000.00 METROPOLITAN LIFE GLOBAL FUNDING I 1.875 01/11/2027 23,296.88 23,296.88
07/15/2025 Coupon 02582JKH2 3,070,000.00 AMXCA 2024-1 A 5.23 04/16/2029 13,380.08 13,380.08 07/15/2025 Coupon 02582JKP4 3,380,000.00 AMXCA 2025-2 A 4.28 04/15/2030 12,055.33 12,055.33 07/15/2025 Coupon 05522RDH8 2,000,000.00 BACCT 2023-2 A 4.98 11/16/2026 8,300.00 8,300.00 07/15/2025 Coupon 05522RDJ4 2,095,000.00 BACCT 2024-1 A 4.93 05/15/2029 8,606.96 8,606.96 07/15/2025 Coupon 161571HT4 3,645,000.00 CHAIT 2023-1 A 5.16 09/15/2028 15,673.50 15,673.50 07/15/2025 Coupon 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 14,913.63 14,913.63 07/15/2025 Coupon 43815BAC4 164,859.78 HAROT 2022-1 A3 1.88 05/15/2026 169.53 169.53 07/15/2025 Principal Paydown 43815BAC4 164,859.78 HAROT 2022-1 A3 1.88 05/15/2026 59,409.64 59,409.64 07/15/2025 Coupon 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 8,316.67 8,316.67 07/15/2025 Coupon 448977AD0 142,072.00 HART 2022-A A3 2.22 10/15/2026 167.45 167.45 07/15/2025 Principal Paydown 448977AD0 142,072.00 HART 2022-A A3 2.22 10/15/2026 50,593.17 50,593.17 07/15/2025 Coupon 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 7,280.96 7,280.96 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 46

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/15/2025 Coupon 44935CAD3 2,625,000.00 HART 2025-A A3 4.32 10/15/2029 9,450.00 9,450.00 07/15/2025 Coupon 44935WAD9 2,090,000.00 HALST 2025-A A3 4.83 01/18/2028 8,412.25 8,412.25 07/15/2025 Coupon 47786WAD2 2,100,000.00 JDOT 2024-B A3 5.2 03/15/2029 9,100.00 9,100.00 07/15/2025 Coupon 47787JAC2 128,017.01 JDOT 2022 A3 2.32 09/15/2026 204.04 204.04 07/15/2025 Principal Paydown 47787JAC2 128,017.01 JDOT 2022 A3 2.32 09/15/2026 30,661.60 30,661.60 07/15/2025 Coupon 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 5,502.77 5,502.77 07/15/2025 Principal Paydown 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 97,093.83 97,093.83 07/15/2025 Coupon 47800DAD6 2,080,000.00 JDOT 2025 A3 4.23 09/17/2029 7,332.00 7,332.00 07/15/2025 Coupon 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,810.73 4,810.73 07/15/2025 Coupon 756109AU8 4,500,000.00 REALTY INCOME CORP 3.65 01/15/2028 82,125.00 82,125.00 07/15/2025 Dividend 90LAIF$00 19,701,691.86 Local Agency Investment Fund State Pool 88,930.82 88,930.82 07/15/2025 Coupon 92970QAE5 2,330,000.00 WFCIT 2024-2 A 4.29 10/15/2029 8,329.75 8,329.75 07/16/2025 Coupon 362554AC1 26,814.05 GMCAR 2021-4 A3 0.68 09/16/2026 17.86 17.86 07/16/2025 Principal Paydown 362554AC1 26,814.05 GMCAR 2021-4 A3 0.68 09/16/2026 22,532.40 22,532.40 07/16/2025 Coupon 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 8,022.71 8,022.71 07/16/2025 Coupon 380146AC4 44,453.46 GMCAR 2022-1 A3 1.26 11/16/2026 32.44 32.44 07/16/2025 Principal Paydown 380146AC4 44,453.46 GMCAR 2022-1 A3 1.26 11/16/2026 21,911.52 21,911.52 07/16/2025 Coupon 57629WDE7 2,272,000.00 MASSMUTUAL GLOBAL FUNDING II 1.2 07/16/2026 13,632.00 13,632.00
07/17/2025 Coupon 57629W5B2 2,140,000.00 MASSMUTUAL GLOBAL FUNDING II 4.85 01/17/2029 51,895.00 51,895.00
07/18/2025 Coupon 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 6,214.21 6,214.21 07/21/2025 Coupon 24422EWR6 2,450,000.00 JOHN DEERE CAPITAL CORP 4.75 01/20/2028 58,187.50 58,187.50 07/21/2025 Coupon 3137EAEU9 6,300,000.00 FEDERAL HOME LOAN MORTGAGE CORP 0.375 07/21/2025 11,812.50 11,812.50
07/21/2025 Final Maturity 3137EAEU9 6,300,000.00 FEDERAL HOME LOAN MORTGAGE CORP 0.375 07/21/2025 6,300,000.00 6,300,000.00
07/21/2025 Coupon 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 6,715.04 6,715.04 07/23/2025 Coupon 46647PAM8 3,300,000.00 JPMORGAN CHASE & CO 3.509 01/23/2029 57,898.50 57,898.50 07/25/2025 Coupon 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 269.79 269.79 07/25/2025 Principal Paydown 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 35,469.27 35,469.27 07/25/2025 Coupon 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 7,470.00 7,470.00 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 47

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/25/2025 Principal Paydown 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 31,669.42 31,669.42 07/25/2025 Coupon 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 8,007.42 8,007.42 07/25/2025 Coupon 3137BSP72 1,500,000.00 FHMS K-058 A2 2.653 08/25/2026 3,316.25 3,316.25 07/25/2025 Coupon 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 7,800.00 7,800.00 07/25/2025 Coupon 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 9,000.00 9,000.00 07/25/2025 Coupon 3137FETN0 6,000,000.00 FHMS K-073 A2 3.35 01/25/2028 16,750.00 16,750.00 07/25/2025 Coupon 3137FG6X8 5,320,000.00 FHMS K-077 A2 3.85 05/25/2028 17,068.33 17,068.33 07/25/2025 Coupon 3137FGR31 1,997,000.00 FHMS K-078 A2 3.854 06/25/2028 6,413.70 6,413.70 07/25/2025 Coupon 3137FJEH8 3,148,000.00 FHMS K-081 A2 3.9 08/25/2028 10,231.00 10,231.00 07/25/2025 Coupon 3137FJKE8 2,500,000.00 FHMS K-082 A2 3.92 09/25/2028 8,166.67 8,166.67 07/25/2025 Coupon 3137FLMV3 4,950,000.00 FHMS K-090 A2 3.422 02/25/2029 14,115.75 14,115.75 07/25/2025 Coupon 3137FLYV0 3,000,000.00 FHMS K-092 A2 3.298 04/25/2029 8,245.00 8,245.00 07/25/2025 Coupon 3137H4BY5 5,000,000.00 FHMS K-746 A2 2.031 09/25/2028 8,462.50 8,462.50 07/25/2025 Coupon 3137H5YC5 8,000,000.00 FHMS K-748 A2 2.26 01/25/2029 15,066.67 15,066.67 07/31/2025 Coupon 91282CFB2 1,300,000.00 UNITED STATES TREASURY 2.75 07/31/2027 17,875.00 17,875.00 07/31/2025 Coupon 91282CGH8 7,000,000.00 UNITED STATES TREASURY 3.5 01/31/2028 122,500.00 122,500.00 07/31/2025 Coupon 91282CJW2 5,000,000.00 UNITED STATES TREASURY 4.0 01/31/2029 100,000.00 100,000.00 07/31/2025 Coupon 91282CMG3 4,500,000.00 UNITED STATES TREASURY 4.25 01/31/2030 95,625.00 95,625.00 July 2025 Total 6,738,271.67 1,085,219.59 7,823,491.26
AUGUST 2025
08/01/2025 Coupon 13063EGT7 4,395,000.00 CALIFORNIA STATE 4.5 08/01/2029 98,887.50 98,887.50 08/01/2025 Coupon 61747YFA8 2,650,000.00 MORGAN STANLEY 5.123 02/01/2029 67,879.75 67,879.75 08/01/2025 Coupon 78016HZS2 3,500,000.00 ROYAL BANK OF CANADA 5.2 08/01/2028 91,000.00 91,000.00 08/07/2025 Coupon 63743HFN7 2,500,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.85 02/07/2029 60,625.00 60,625.00
08/11/2025 Coupon 69371RS64 1,670,000.00 PACCAR FINANCIAL CORP 4.95 08/10/2028 41,332.50 41,332.50 08/15/2025 Coupon 02582JKH2 3,070,000.00 AMXCA 2024-1 A 5.23 04/16/2029 13,380.08 13,380.08 08/15/2025 Coupon 02582JKP4 3,380,000.00 AMXCA 2025-2 A 4.28 04/15/2030 12,055.33 12,055.33 08/15/2025 Coupon 05522RDH8 2,000,000.00 BACCT 2023-2 A 4.98 11/16/2026 8,300.00 8,300.00 08/15/2025 Coupon 05522RDJ4 2,095,000.00 BACCT 2024-1 A 4.93 05/15/2029 8,606.96 8,606.96 08/15/2025 Coupon 161571HT4 3,645,000.00 CHAIT 2023-1 A 5.16 09/15/2028 15,673.50 15,673.50 08/15/2025 Coupon 171239AL0 3,700,000.00 CHUBB INA HOLDINGS LLC 4.65 08/15/2029 86,025.00 86,025.00 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 48

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/15/2025 Coupon 30303M8S4 2,280,000.00 META PLATFORMS INC 4.3 08/15/2029 49,020.00 49,020.00 08/15/2025 Coupon 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 14,913.63 14,913.63 08/15/2025 Coupon 43815BAC4 164,859.78 HAROT 2022-1 A3 1.88 05/15/2026 76.46 76.46 08/15/2025 Effective Maturity 43815BAC4 164,859.78 HAROT 2022-1 A3 1.88 05/15/2026 48,801.89 48,801.89 08/15/2025 Coupon 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 8,316.67 8,316.67 08/15/2025 Coupon 448977AD0 142,072.00 HART 2022-A A3 2.22 10/15/2026 73.86 73.86 08/15/2025 Effective Maturity 448977AD0 142,072.00 HART 2022-A A3 2.22 10/15/2026 39,921.84 39,921.84 08/15/2025 Coupon 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 7,280.96 7,280.96 08/15/2025 Coupon 44935CAD3 2,625,000.00 HART 2025-A A3 4.32 10/15/2029 9,450.00 9,450.00 08/15/2025 Coupon 44935WAD9 2,090,000.00 HALST 2025-A A3 4.83 01/18/2028 8,412.25 8,412.25 08/15/2025 Coupon 47786WAD2 2,100,000.00 JDOT 2024-B A3 5.2 03/15/2029 9,100.00 9,100.00 08/15/2025 Coupon 47787JAC2 128,017.01 JDOT 2022 A3 2.32 09/15/2026 144.76 144.76 08/15/2025 Principal Paydown 47787JAC2 128,017.01 JDOT 2022 A3 2.32 09/15/2026 27,780.91 27,780.91 08/15/2025 Coupon 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 5,097.40 5,097.40 08/15/2025 Principal Paydown 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 89,606.25 89,606.25 08/15/2025 Coupon 47800DAD6 2,080,000.00 JDOT 2025 A3 4.23 09/17/2029 7,332.00 7,332.00 08/15/2025 Coupon 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,810.73 4,810.73 08/15/2025 Coupon 91324PEP3 1,500,000.00 UNITEDHEALTH GROUP INC 5.25 02/15/2028 39,375.00 39,375.00 08/15/2025 Coupon 92970QAE5 2,330,000.00 WFCIT 2024-2 A 4.29 10/15/2029 8,329.75 8,329.75 08/18/2025 Coupon 362554AC1 26,814.05 GMCAR 2021-4 A3 0.68 09/16/2026 5.09 5.09 08/18/2025 Effective Maturity 362554AC1 26,814.05 GMCAR 2021-4 A3 0.68 09/16/2026 8,980.22 8,980.22 08/18/2025 Coupon 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 8,022.71 8,022.71 08/18/2025 Coupon 380146AC4 44,453.46 GMCAR 2022-1 A3 1.26 11/16/2026 9.43 9.43 08/18/2025 Effective Maturity 380146AC4 44,453.46 GMCAR 2022-1 A3 1.26 11/16/2026 8,979.35 8,979.35 08/18/2025 Coupon 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 6,214.21 6,214.21 08/20/2025 Coupon 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 6,715.04 6,715.04 08/25/2025 Coupon 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 174.91 174.91 08/25/2025 Principal Paydown 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 34,293.74 34,293.74 08/25/2025 Coupon 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 7,338.57 7,338.57 08/25/2025 Principal Paydown 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 152,549.05 152,549.05 08/25/2025 Coupon 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 8,007.42 8,007.42 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 49

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/25/2025 Coupon 3135G05X7 6,285,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.375 08/25/2025 11,784.38 11,784.38
08/25/2025 Final Maturity 3135G05X7 6,285,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.375 08/25/2025 6,285,000.00 6,285,000.00
08/25/2025 Coupon 3137BSP72 1,500,000.00 FHMS K-058 A2 2.653 08/25/2026 3,316.25 3,316.25 08/25/2025 Coupon 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 7,800.00 7,800.00 08/25/2025 Coupon 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 9,000.00 9,000.00 08/25/2025 Coupon 3137FETN0 6,000,000.00 FHMS K-073 A2 3.35 01/25/2028 16,750.00 16,750.00 08/25/2025 Coupon 3137FG6X8 5,320,000.00 FHMS K-077 A2 3.85 05/25/2028 17,068.33 17,068.33 08/25/2025 Coupon 3137FGR31 1,997,000.00 FHMS K-078 A2 3.854 06/25/2028 6,413.70 6,413.70 08/25/2025 Coupon 3137FJEH8 3,148,000.00 FHMS K-081 A2 3.9 08/25/2028 10,231.00 10,231.00 08/25/2025 Coupon 3137FJKE8 2,500,000.00 FHMS K-082 A2 3.92 09/25/2028 8,166.67 8,166.67 08/25/2025 Coupon 3137FLMV3 4,950,000.00 FHMS K-090 A2 3.422 02/25/2029 14,115.75 14,115.75 08/25/2025 Coupon 3137FLYV0 3,000,000.00 FHMS K-092 A2 3.298 04/25/2029 8,245.00 8,245.00 08/25/2025 Coupon 3137H4BY5 5,000,000.00 FHMS K-746 A2 2.031 09/25/2028 8,462.50 8,462.50 08/25/2025 Coupon 3137H5YC5 8,000,000.00 FHMS K-748 A2 2.26 01/25/2029 15,066.67 15,066.67 08/26/2025 Coupon 17275RBR2 1,960,000.00 CISCO SYSTEMS INC 4.85 02/26/2029 47,530.00 47,530.00 08/27/2025 Coupon 14913UAJ9 2,500,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.85 02/27/2029 60,625.00 60,625.00
August 2025 Total 6,695,913.25 956,561.69 7,652,474.94
SEPTEMBER 2025
09/02/2025 Coupon 74456QBX3 3,000,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.65 09/01/2028 54,750.00 54,750.00
09/02/2025 Coupon 91282CCW9 1,570,000.00 UNITED STATES TREASURY 0.75 08/31/2026 5,887.50 5,887.50 09/02/2025 Coupon 91282CFH9 3,450,000.00 UNITED STATES TREASURY 3.125 08/31/2027 53,906.25 53,906.25 09/02/2025 Coupon 91282CGP0 7,000,000.00 UNITED STATES TREASURY 4.0 02/29/2028 140,000.00 140,000.00 09/02/2025 Coupon 91282CHX2 1,900,000.00 UNITED STATES TREASURY 4.375 08/31/2028 41,562.50 41,562.50 09/02/2025 Coupon 91282CKD2 7,000,000.00 UNITED STATES TREASURY 4.25 02/28/2029 148,750.00 148,750.00 09/02/2025 Coupon 91282CLK5 8,000,000.00 UNITED STATES TREASURY 3.625 08/31/2029 145,000.00 145,000.00 09/03/2025 Coupon 808513BY0 1,300,000.00 CHARLES SCHWAB CORP 2.45 03/03/2027 15,925.00 15,925.00 09/05/2025 Coupon 02665WFY2 3,500,000.00 AMERICAN HONDA FINANCE CORP 4.8 03/05/2030 84,000.00 84,000.00
09/09/2025 Coupon 57636QAW4 2,090,000.00 MASTERCARD INC 4.875 03/09/2028 50,943.75 50,943.75 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 50

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/10/2025 Coupon 89114TZT2 1,900,000.00 TORONTO-DOMINION BANK 2.8 03/10/2027 26,600.00 26,600.00 09/15/2025 Coupon 02582JKH2 3,070,000.00 AMXCA 2024-1 A 5.23 04/16/2029 13,380.08 13,380.08 09/15/2025 Coupon 02582JKP4 3,380,000.00 AMXCA 2025-2 A 4.28 04/15/2030 12,055.33 12,055.33 09/15/2025 Coupon 05522RDH8 2,000,000.00 BACCT 2023-2 A 4.98 11/16/2026 8,300.00 8,300.00 09/15/2025 Coupon 05522RDJ4 2,095,000.00 BACCT 2024-1 A 4.93 05/15/2029 8,606.96 8,606.96 09/15/2025 Coupon 161571HT4 3,645,000.00 CHAIT 2023-1 A 5.16 09/15/2028 15,673.50 15,673.50 09/15/2025 Coupon 26442UAH7 1,500,000.00 DUKE ENERGY PROGRESS LLC 3.45 03/15/2029 25,875.00 25,875.00 09/15/2025 Coupon 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 14,913.63 14,913.63 09/15/2025 Coupon 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 8,316.67 8,316.67 09/15/2025 Coupon 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 7,280.96 7,280.96 09/15/2025 Coupon 44935CAD3 2,625,000.00 HART 2025-A A3 4.32 10/15/2029 9,450.00 9,450.00 09/15/2025 Coupon 44935WAD9 2,090,000.00 HALST 2025-A A3 4.83 01/18/2028 8,412.25 8,412.25 09/15/2025 Coupon 47786WAD2 2,100,000.00 JDOT 2024-B A3 5.2 03/15/2029 9,100.00 9,100.00 09/15/2025 Coupon 47787JAC2 128,017.01 JDOT 2022 A3 2.32 09/15/2026 91.05 91.05 09/15/2025 Principal Paydown 47787JAC2 128,017.01 JDOT 2022 A3 2.32 09/15/2026 27,058.13 27,058.13 09/15/2025 Coupon 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 4,723.30 4,723.30 09/15/2025 Principal Paydown 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 92,279.84 92,279.84 09/15/2025 Coupon 47800DAD6 2,080,000.00 JDOT 2025 A3 4.23 09/17/2029 7,332.00 7,332.00 09/15/2025 Coupon 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,810.73 4,810.73 09/15/2025 Coupon 58989V2D5 1,715,000.00 MET TOWER GLOBAL FUNDING 1.25 09/14/2026 10,718.75 10,718.75
09/15/2025 Coupon 880591EZ1 3,500,000.00 TENNESSEE VALLEY AUTHORITY 3.875 03/15/2028 67,812.50 67,812.50
09/15/2025 Coupon 92970QAE5 2,330,000.00 WFCIT 2024-2 A 4.29 10/15/2029 8,329.75 8,329.75 09/16/2025 Coupon 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 8,022.71 8,022.71 09/17/2025 Coupon 931142ER0 785,000.00 WALMART INC 1.05 09/17/2026 4,121.25 4,121.25 09/18/2025 Coupon 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 6,214.21 6,214.21 09/22/2025 Coupon 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 6,715.04 6,715.04 09/22/2025 Coupon 459058LR2 4,500,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 92,812.50 92,812.50
09/23/2025 Coupon 3137EAEX3 6,295,000.00 FEDERAL HOME LOAN MORTGAGE CORP 0.375 09/23/2025 11,803.13 11,803.13
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 51

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/23/2025 Final Maturity 3137EAEX3 6,295,000.00 FEDERAL HOME LOAN MORTGAGE CORP 0.375 09/23/2025 6,295,000.00 6,295,000.00
09/25/2025 Coupon 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 83.17 83.17 09/25/2025 Principal Paydown 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 29,053.63 29,053.63 09/25/2025 Coupon 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 6,705.49 6,705.49 09/25/2025 Principal Paydown 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 149,834.51 149,834.51 09/25/2025 Coupon 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 8,007.42 8,007.42 09/25/2025 Coupon 3137BSP72 1,500,000.00 FHMS K-058 A2 2.653 08/25/2026 3,316.25 3,316.25 09/25/2025 Coupon 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 7,800.00 7,800.00 09/25/2025 Coupon 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 9,000.00 9,000.00 09/25/2025 Coupon 3137FETN0 6,000,000.00 FHMS K-073 A2 3.35 01/25/2028 16,750.00 16,750.00 09/25/2025 Coupon 3137FG6X8 5,320,000.00 FHMS K-077 A2 3.85 05/25/2028 17,068.33 17,068.33 09/25/2025 Coupon 3137FGR31 1,997,000.00 FHMS K-078 A2 3.854 06/25/2028 6,413.70 6,413.70 09/25/2025 Coupon 3137FJEH8 3,148,000.00 FHMS K-081 A2 3.9 08/25/2028 10,231.00 10,231.00 09/25/2025 Coupon 3137FJKE8 2,500,000.00 FHMS K-082 A2 3.92 09/25/2028 8,166.67 8,166.67 09/25/2025 Coupon 3137FLMV3 4,950,000.00 FHMS K-090 A2 3.422 02/25/2029 14,115.75 14,115.75 09/25/2025 Coupon 3137FLYV0 3,000,000.00 FHMS K-092 A2 3.298 04/25/2029 8,245.00 8,245.00 09/25/2025 Coupon 3137H4BY5 5,000,000.00 FHMS K-746 A2 2.031 09/25/2028 8,462.50 8,462.50 09/25/2025 Coupon 3137H5YC5 8,000,000.00 FHMS K-748 A2 2.26 01/25/2029 15,066.67 15,066.67 09/26/2025 Coupon 40139LBJ1 3,050,000.00 GUARDIAN LIFE GLOBAL FUNDING 4.179 09/26/2029 63,729.75 63,729.75
09/30/2025 Coupon 91282CCZ2 3,130,000.00 UNITED STATES TREASURY 0.875 09/30/2026 13,693.75 13,693.75 09/30/2025 Coupon 91282CFM8 2,800,000.00 UNITED STATES TREASURY 4.125 09/30/2027 57,750.00 57,750.00 09/30/2025 Coupon 91282CJA0 5,800,000.00 UNITED STATES TREASURY 4.625 09/30/2028 134,125.00 134,125.00 09/30/2025 Coupon 91282CKG5 7,000,000.00 UNITED STATES TREASURY 4.125 03/31/2029 144,375.00 144,375.00 09/30/2025 Coupon 91282CLN9 8,500,000.00 UNITED STATES TREASURY 3.5 09/30/2029 148,750.00 148,750.00 September 2025
Total 6,593,226.12 1,844,051.73 8,437,277.85
OCTOBER 2025
10/06/2025 Coupon 89115A2Y7 2,330,000.00 TORONTO-DOMINION BANK 4.994 04/05/2029 58,180.10 58,180.10 10/14/2025 Coupon 58989V2H6 2,000,000.00 MET TOWER GLOBAL FUNDING 5.25 04/12/2029 52,500.00 52,500.00
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 52

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/15/2025 Coupon 02582JKH2 3,070,000.00 AMXCA 2024-1 A 5.23 04/16/2029 13,380.08 13,380.08 10/15/2025 Coupon 02582JKP4 3,380,000.00 AMXCA 2025-2 A 4.28 04/15/2030 12,055.33 12,055.33 10/15/2025 Coupon 05522RDH8 2,000,000.00 BACCT 2023-2 A 4.98 11/16/2026 8,300.00 8,300.00 10/15/2025 Coupon 05522RDJ4 2,095,000.00 BACCT 2024-1 A 4.93 05/15/2029 8,606.96 8,606.96 10/15/2025 Coupon 161571HT4 3,645,000.00 CHAIT 2023-1 A 5.16 09/15/2028 15,673.50 15,673.50 10/15/2025 Coupon 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 14,913.63 14,913.63 10/15/2025 Principal Paydown 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 177,422.66 177,422.66 10/15/2025 Coupon 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 8,316.67 8,316.67 10/15/2025 Coupon 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 7,280.96 7,280.96 10/15/2025 Coupon 44935CAD3 2,625,000.00 HART 2025-A A3 4.32 10/15/2029 9,450.00 9,450.00 10/15/2025 Coupon 44935WAD9 2,090,000.00 HALST 2025-A A3 4.83 01/18/2028 8,412.25 8,412.25 10/15/2025 Coupon 47786WAD2 2,100,000.00 JDOT 2024-B A3 5.2 03/15/2029 9,100.00 9,100.00 10/15/2025 Coupon 47787JAC2 128,017.01 JDOT 2022 A3 2.32 09/15/2026 38.73 38.73 10/15/2025 Effective Maturity 47787JAC2 128,017.01 JDOT 2022 A3 2.32 09/15/2026 20,035.19 20,035.19 10/15/2025 Coupon 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 4,338.03 4,338.03 10/15/2025 Principal Paydown 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 109,733.83 109,733.83 10/15/2025 Coupon 47800DAD6 2,080,000.00 JDOT 2025 A3 4.23 09/17/2029 7,332.00 7,332.00 10/15/2025 Coupon 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,810.73 4,810.73 10/15/2025 Coupon 92970QAE5 2,330,000.00 WFCIT 2024-2 A 4.29 10/15/2029 8,329.75 8,329.75 10/16/2025 Coupon 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 8,022.71 8,022.71 10/16/2025 Principal Paydown 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 59,335.63 59,335.63 10/16/2025 Coupon 459058LN1 4,500,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 87,187.50 87,187.50
10/20/2025 Coupon 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 6,715.04 6,715.04 10/20/2025 Coupon 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 6,214.21 6,214.21 10/20/2025 Coupon 4581X0DV7 6,390,000.00 INTER-AMERICAN DEVELOPMENT BANK 0.875 04/20/2026 27,956.25 27,956.25
10/27/2025 Coupon 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 5.45 5.45 10/27/2025 Effective Maturity 05602RAD3 171,468.29 BMWOT 2022-A A3 3.21 08/25/2026 2,038.76 2,038.76 10/27/2025 Coupon 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 6,083.68 6,083.68 10/27/2025 Principal Paydown 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 150,757.73 150,757.73 10/27/2025 Coupon 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 8,007.42 8,007.42 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 53

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/27/2025 Coupon 3137BSP72 1,500,000.00 FHMS K-058 A2 2.653 08/25/2026 3,316.25 3,316.25 10/27/2025 Coupon 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 7,800.00 7,800.00 10/27/2025 Principal Paydown 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 6,145.59 6,145.59 10/27/2025 Coupon 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 9,000.00 9,000.00 10/27/2025 Coupon 3137FETN0 6,000,000.00 FHMS K-073 A2 3.35 01/25/2028 16,750.00 16,750.00 10/27/2025 Coupon 3137FG6X8 5,320,000.00 FHMS K-077 A2 3.85 05/25/2028 17,068.33 17,068.33 10/27/2025 Coupon 3137FGR31 1,997,000.00 FHMS K-078 A2 3.854 06/25/2028 6,413.70 6,413.70 10/27/2025 Coupon 3137FJEH8 3,148,000.00 FHMS K-081 A2 3.9 08/25/2028 10,231.00 10,231.00 10/27/2025 Coupon 3137FJKE8 2,500,000.00 FHMS K-082 A2 3.92 09/25/2028 8,166.67 8,166.67 10/27/2025 Coupon 3137FLMV3 4,950,000.00 FHMS K-090 A2 3.422 02/25/2029 14,115.75 14,115.75 10/27/2025 Coupon 3137FLYV0 3,000,000.00 FHMS K-092 A2 3.298 04/25/2029 8,245.00 8,245.00 10/27/2025 Coupon 3137H4BY5 5,000,000.00 FHMS K-746 A2 2.031 09/25/2028 8,462.50 8,462.50 10/27/2025 Coupon 3137H5YC5 8,000,000.00 FHMS K-748 A2 2.26 01/25/2029 15,066.67 15,066.67 10/28/2025 Coupon 459058JL8 6,300,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 0.5 10/28/2025 15,750.00 15,750.00
10/28/2025 Final Maturity 459058JL8 6,300,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 0.5 10/28/2025 6,300,000.00 6,300,000.00
10/31/2025 Coupon 91282CAT8 6,000,000.00 UNITED STATES TREASURY 0.25 10/31/2025 7,500.00 7,500.00 10/31/2025 Final Maturity 91282CAT8 6,000,000.00 UNITED STATES TREASURY 0.25 10/31/2025 6,000,000.00 6,000,000.00 10/31/2025 Coupon 91282CDG3 3,120,000.00 UNITED STATES TREASURY 1.125 10/31/2026 17,550.00 17,550.00 10/31/2025 Coupon 91282CJF9 2,000,000.00 UNITED STATES TREASURY 4.875 10/31/2028 48,750.00 48,750.00 10/31/2025 Coupon 91282CKP5 7,000,000.00 UNITED STATES TREASURY 4.625 04/30/2029 161,875.00 161,875.00 10/31/2025 Coupon 91282CMZ1 5,000,000.00 UNITED STATES TREASURY 3.875 04/30/2030 96,875.00 96,875.00 October 2025 Total 12,825,469.38 874,146.84 13,699,616.23 NOVEMBER 2025
11/03/2025 Coupon 74460DAD1 3,000,000.00 PUBLIC STORAGE OPERATING CO 3.385 05/01/2029 50,775.00 50,775.00
11/07/2025 Coupon 3135G06G3 6,300,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.5 11/07/2025 15,750.00 15,750.00
11/07/2025 Final Maturity 3135G06G3 6,300,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.5 11/07/2025 6,300,000.00 6,300,000.00
11/10/2025 Coupon 037833ET3 1,650,000.00 APPLE INC 4.0 05/10/2028 33,000.00 33,000.00 11/10/2025 Coupon 665859AW4 1,345,000.00 NORTHERN TRUST CORP 4.0 05/10/2027 26,900.00 26,900.00 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 54

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/12/2025 Coupon 023135BX3 4,865,000.00 AMAZON.COM INC 1.0 05/12/2026 24,325.00 24,325.00 11/17/2025 Coupon 02582JKH2 3,070,000.00 AMXCA 2024-1 A 5.23 04/16/2029 13,380.08 13,380.08 11/17/2025 Coupon 02582JKP4 3,380,000.00 AMXCA 2025-2 A 4.28 04/15/2030 12,055.33 12,055.33 11/17/2025 Coupon 05522RDH8 2,000,000.00 BACCT 2023-2 A 4.98 11/16/2026 8,300.00 8,300.00 11/17/2025 Coupon 05522RDJ4 2,095,000.00 BACCT 2024-1 A 4.93 05/15/2029 8,606.96 8,606.96 11/17/2025 Coupon 161571HT4 3,645,000.00 CHAIT 2023-1 A 5.16 09/15/2028 15,673.50 15,673.50 11/17/2025 Coupon 26442CAX2 3,280,000.00 DUKE ENERGY CAROLINAS LLC 3.95 11/15/2028 64,780.00 64,780.00
11/17/2025 Coupon 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 7,782.89 7,782.89 11/17/2025 Principal Paydown 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 85,129.15 85,129.15 11/17/2025 Coupon 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 14,143.32 14,143.32 11/17/2025 Principal Paydown 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 194,412.62 194,412.62 11/17/2025 Coupon 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 8,316.67 8,316.67 11/17/2025 Coupon 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 7,280.96 7,280.96 11/17/2025 Principal Paydown 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 150,316.00 150,316.00 11/17/2025 Coupon 44935CAD3 2,625,000.00 HART 2025-A A3 4.32 10/15/2029 9,450.00 9,450.00 11/17/2025 Coupon 44935WAD9 2,090,000.00 HALST 2025-A A3 4.83 01/18/2028 8,412.25 8,412.25 11/17/2025 Coupon 47786WAD2 2,100,000.00 JDOT 2024-B A3 5.2 03/15/2029 9,100.00 9,100.00 11/17/2025 Coupon 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 3,879.89 3,879.89 11/17/2025 Principal Paydown 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 128,329.12 128,329.12 11/17/2025 Coupon 47800DAD6 2,080,000.00 JDOT 2025 A3 4.23 09/17/2029 7,332.00 7,332.00 11/17/2025 Coupon 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,810.73 4,810.73 11/17/2025 Coupon 58933YBH7 1,975,000.00 MERCK & CO INC 4.05 05/17/2028 39,993.75 39,993.75 11/17/2025 Coupon 91324PEC2 805,000.00 UNITEDHEALTH GROUP INC 1.15 05/15/2026 4,628.75 4,628.75 11/17/2025 Coupon 91324PEG3 1,365,000.00 UNITEDHEALTH GROUP INC 3.7 05/15/2027 25,252.50 25,252.50 11/17/2025 Coupon 92970QAE5 2,330,000.00 WFCIT 2024-2 A 4.29 10/15/2029 8,329.75 8,329.75 11/18/2025 Coupon 22160KAM7 2,500,000.00 COSTCO WHOLESALE CORP 3.0 05/18/2027 37,500.00 37,500.00 11/18/2025 Coupon 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 6,214.21 6,214.21 11/20/2025 Coupon 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 6,715.04 6,715.04 11/20/2025 Principal Paydown 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 58,791.31 58,791.31 11/25/2025 Coupon 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 5,458.04 5,458.04 11/25/2025 Principal Paydown 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 156,885.27 156,885.27 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 55

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/25/2025 Coupon 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 8,007.42 8,007.42 11/25/2025 Coupon 3137BSP72 1,500,000.00 FHMS K-058 A2 2.653 08/25/2026 3,316.25 3,316.25 11/25/2025 Coupon 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 7,784.02 7,784.02 11/25/2025 Principal Paydown 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 5,858.58 5,858.58 11/25/2025 Coupon 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 9,000.00 9,000.00 11/25/2025 Coupon 3137FETN0 6,000,000.00 FHMS K-073 A2 3.35 01/25/2028 16,750.00 16,750.00 11/25/2025 Coupon 3137FG6X8 5,320,000.00 FHMS K-077 A2 3.85 05/25/2028 17,068.33 17,068.33 11/25/2025 Coupon 3137FGR31 1,997,000.00 FHMS K-078 A2 3.854 06/25/2028 6,413.70 6,413.70 11/25/2025 Coupon 3137FJEH8 3,148,000.00 FHMS K-081 A2 3.9 08/25/2028 10,231.00 10,231.00 11/25/2025 Coupon 3137FJKE8 2,500,000.00 FHMS K-082 A2 3.92 09/25/2028 8,166.67 8,166.67 11/25/2025 Coupon 3137FLMV3 4,950,000.00 FHMS K-090 A2 3.422 02/25/2029 14,115.75 14,115.75 11/25/2025 Coupon 3137FLYV0 3,000,000.00 FHMS K-092 A2 3.298 04/25/2029 8,245.00 8,245.00 11/25/2025 Coupon 3137H4BY5 5,000,000.00 FHMS K-746 A2 2.031 09/25/2028 8,462.50 8,462.50 11/25/2025 Coupon 3137H5YC5 8,000,000.00 FHMS K-748 A2 2.26 01/25/2029 15,066.67 15,066.67 November 2025
Total 7,079,722.05 620,773.92 7,700,495.96
DECEMBER 2025
12/01/2025 Coupon 57629W4T4 1,850,000.00 MASSMUTUAL GLOBAL FUNDING II 5.15 05/30/2029 47,637.50 47,637.50
12/01/2025 Coupon 91282CFZ9 4,600,000.00 UNITED STATES TREASURY 3.875 11/30/2027 89,125.00 89,125.00 12/01/2025 Coupon 91282CHE4 7,000,000.00 UNITED STATES TREASURY 3.625 05/31/2028 126,875.00 126,875.00 12/01/2025 Coupon 91282CJN2 3,400,000.00 UNITED STATES TREASURY 4.375 11/30/2028 74,375.00 74,375.00 12/01/2025 Coupon 91282CKT7 4,400,000.00 UNITED STATES TREASURY 4.5 05/31/2029 99,000.00 99,000.00 12/01/2025 Coupon 91282CMA6 4,500,000.00 UNITED STATES TREASURY 4.125 11/30/2029 92,812.50 92,812.50 12/05/2025 Coupon 64952WFK4 3,445,000.00 NEW YORK LIFE GLOBAL FUNDING 4.6 12/05/2029 79,235.00 79,235.00
12/08/2025 Coupon 64952WFG3 2,120,000.00 NEW YORK LIFE GLOBAL FUNDING 5.0 06/06/2029 53,000.00 53,000.00
12/08/2025 Coupon 89115A2C5 1,400,000.00 TORONTO-DOMINION BANK 4.108 06/08/2027 28,756.00 28,756.00 12/10/2025 Coupon 40139LBC6 3,000,000.00 GUARDIAN LIFE GLOBAL FUNDING 0.875 12/10/2025 13,125.00 13,125.00
12/10/2025 Final Maturity 40139LBC6 3,000,000.00 GUARDIAN LIFE GLOBAL FUNDING 0.875 12/10/2025 3,000,000.00 3,000,000.00
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 56

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/15/2025 Coupon 02582JKH2 3,070,000.00 AMXCA 2024-1 A 5.23 04/16/2029 13,380.08 13,380.08 12/15/2025 Coupon 02582JKP4 3,380,000.00 AMXCA 2025-2 A 4.28 04/15/2030 12,055.33 12,055.33 12/15/2025 Coupon 05522RDH8 2,000,000.00 BACCT 2023-2 A 4.98 11/16/2026 8,300.00 8,300.00 12/15/2025 Coupon 05522RDJ4 2,095,000.00 BACCT 2024-1 A 4.93 05/15/2029 8,606.96 8,606.96 12/15/2025 Coupon 161571HT4 3,645,000.00 CHAIT 2023-1 A 5.16 09/15/2028 15,673.50 15,673.50 12/15/2025 Coupon 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 13,299.24 13,299.24 12/15/2025 Principal Paydown 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 183,834.80 183,834.80 12/15/2025 Coupon 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 8,316.67 8,316.67 12/15/2025 Coupon 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 6,603.28 6,603.28 12/15/2025 Principal Paydown 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 174,189.63 174,189.63 12/15/2025 Coupon 44935CAD3 2,625,000.00 HART 2025-A A3 4.32 10/15/2029 9,450.00 9,450.00 12/15/2025 Coupon 44935WAD9 2,090,000.00 HALST 2025-A A3 4.83 01/18/2028 8,412.25 8,412.25 12/15/2025 Coupon 47786WAD2 2,100,000.00 JDOT 2024-B A3 5.2 03/15/2029 9,100.00 9,100.00 12/15/2025 Coupon 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 3,344.12 3,344.12 12/15/2025 Principal Paydown 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 85,779.83 85,779.83 12/15/2025 Coupon 47800DAD6 2,080,000.00 JDOT 2025 A3 4.23 09/17/2029 7,332.00 7,332.00 12/15/2025 Coupon 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,810.73 4,810.73 12/15/2025 Coupon 74340XCG4 4,000,000.00 PROLOGIS LP 4.875 06/15/2028 97,500.00 97,500.00 12/15/2025 Coupon 92970QAE5 2,330,000.00 WFCIT 2024-2 A 4.29 10/15/2029 8,329.75 8,329.75 12/16/2025 Coupon 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 7,438.83 7,438.83 12/16/2025 Principal Paydown 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 100,058.22 100,058.22 12/18/2025 Coupon 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 6,214.21 6,214.21 12/18/2025 Coupon 89236TJK2 3,325,000.00 TOYOTA MOTOR CREDIT CORP 1.125 06/18/2026 18,703.13 18,703.13
12/22/2025 Coupon 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 6,450.97 6,450.97 12/22/2025 Principal Paydown 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 156,825.64 156,825.64 12/25/2025 Coupon 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 4,806.96 4,806.96 12/25/2025 Principal Paydown 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 134,404.40 134,404.40 12/25/2025 Coupon 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 8,007.42 8,007.42 12/25/2025 Coupon 3137BSP72 1,500,000.00 FHMS K-058 A2 2.653 08/25/2026 3,316.25 3,316.25 12/25/2025 Coupon 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 7,768.79 7,768.79 12/25/2025 Principal Paydown 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 6,176.31 6,176.31 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 57

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/25/2025 Coupon 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 9,000.00 9,000.00 12/25/2025 Principal Paydown 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 3,052.62 3,052.62 12/25/2025 Coupon 3137FETN0 6,000,000.00 FHMS K-073 A2 3.35 01/25/2028 16,750.00 16,750.00 12/25/2025 Coupon 3137FG6X8 5,320,000.00 FHMS K-077 A2 3.85 05/25/2028 17,068.33 17,068.33 12/25/2025 Coupon 3137FGR31 1,997,000.00 FHMS K-078 A2 3.854 06/25/2028 6,413.70 6,413.70 12/25/2025 Coupon 3137FJEH8 3,148,000.00 FHMS K-081 A2 3.9 08/25/2028 10,231.00 10,231.00 12/25/2025 Coupon 3137FJKE8 2,500,000.00 FHMS K-082 A2 3.92 09/25/2028 8,166.67 8,166.67 12/25/2025 Coupon 3137FLMV3 4,950,000.00 FHMS K-090 A2 3.422 02/25/2029 14,115.75 14,115.75 12/25/2025 Coupon 3137FLYV0 3,000,000.00 FHMS K-092 A2 3.298 04/25/2029 8,245.00 8,245.00 12/25/2025 Coupon 3137H4BY5 5,000,000.00 FHMS K-746 A2 2.031 09/25/2028 8,462.50 8,462.50 12/25/2025 Coupon 3137H5YC5 8,000,000.00 FHMS K-748 A2 2.26 01/25/2029 15,066.67 15,066.67 12/26/2025 Coupon 437076DC3 3,000,000.00 HOME DEPOT INC 4.75 06/25/2029 71,250.00 71,250.00 12/30/2025 Coupon 3130AWN63 3,000,000.00 FEDERAL HOME LOAN BANKS 4.0 06/30/2028 60,000.00 60,000.00 12/31/2025 Coupon 91282CEW7 6,650,000.00 UNITED STATES TREASURY 3.25 06/30/2027 108,062.50 108,062.50 12/31/2025 Coupon 91282CGC9 7,000,000.00 UNITED STATES TREASURY 3.875 12/31/2027 135,625.00 135,625.00 12/31/2025 Coupon 91282CJR3 11,000,000.00 UNITED STATES TREASURY 3.75 12/31/2028 206,250.00 206,250.00 12/31/2025 Coupon 91282CKX8 4,000,000.00 UNITED STATES TREASURY 4.25 06/30/2029 85,000.00 85,000.00 December 2025
Total 3,844,321.46 1,780,868.58 5,625,190.04
JANUARY 2026
01/09/2026 Coupon 89236TNA9 3,655,000.00 TOYOTA MOTOR CREDIT CORP 4.95 01/09/2030 90,461.25 90,461.25 01/12/2026 Coupon 59217GER6 2,485,000.00 METROPOLITAN LIFE GLOBAL FUNDING I 1.875 01/11/2027 23,296.88 23,296.88
01/12/2026 Coupon 66815L2Q1 2,400,000.00 NORTHWESTERN MUTUAL GLOBAL FUNDING

4.71 01/10/2029 56,520.00 56,520.00
01/15/2026 Coupon 02582JKH2 3,070,000.00 AMXCA 2024-1 A 5.23 04/16/2029 13,380.08 13,380.08 01/15/2026 Coupon 02582JKP4 3,380,000.00 AMXCA 2025-2 A 4.28 04/15/2030 12,055.33 12,055.33 01/15/2026 Coupon 05522RDH8 2,000,000.00 BACCT 2023-2 A 4.98 11/16/2026 8,300.00 8,300.00 01/15/2026 Coupon 05522RDJ4 2,095,000.00 BACCT 2024-1 A 4.93 05/15/2029 8,606.96 8,606.96 01/15/2026 Coupon 161571HT4 3,645,000.00 CHAIT 2023-1 A 5.16 09/15/2028 15,673.50 15,673.50 01/15/2026 Coupon 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 12,501.09 12,501.09 01/15/2026 Principal Paydown 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 180,221.66 180,221.66 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 58

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/15/2026 Coupon 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 8,316.67 8,316.67 01/15/2026 Principal Paydown 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 52,076.66 52,076.66 01/15/2026 Coupon 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 5,817.98 5,817.98 01/15/2026 Principal Paydown 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 174,045.31 174,045.31 01/15/2026 Coupon 44935CAD3 2,625,000.00 HART 2025-A A3 4.32 10/15/2029 9,450.00 9,450.00 01/15/2026 Coupon 44935WAD9 2,090,000.00 HALST 2025-A A3 4.83 01/18/2028 8,412.25 8,412.25 01/15/2026 Coupon 47786WAD2 2,100,000.00 JDOT 2024-B A3 5.2 03/15/2029 9,100.00 9,100.00 01/15/2026 Coupon 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 2,985.99 2,985.99 01/15/2026 Principal Paydown 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 97,401.39 97,401.39 01/15/2026 Coupon 47800DAD6 2,080,000.00 JDOT 2025 A3 4.23 09/17/2029 7,332.00 7,332.00 01/15/2026 Coupon 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,810.73 4,810.73 01/15/2026 Principal Paydown 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 65,407.53 65,407.53 01/15/2026 Coupon 756109AU8 4,500,000.00 REALTY INCOME CORP 3.65 01/15/2028 82,125.00 82,125.00 01/15/2026 Coupon 92970QAE5 2,330,000.00 WFCIT 2024-2 A 4.29 10/15/2029 8,329.75 8,329.75 01/16/2026 Coupon 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 7,034.43 7,034.43 01/16/2026 Principal Paydown 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 98,324.80 98,324.80 01/16/2026 Coupon 57629WDE7 2,272,000.00 MASSMUTUAL GLOBAL FUNDING II 1.2 07/16/2026 13,632.00 13,632.00
01/19/2026 Coupon 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 6,214.21 6,214.21 01/19/2026 Principal Paydown 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 76,110.63 76,110.63 01/20/2026 Coupon 24422EWR6 2,450,000.00 JOHN DEERE CAPITAL CORP 4.75 01/20/2028 58,187.50 58,187.50 01/20/2026 Coupon 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 5,746.56 5,746.56 01/20/2026 Principal Paydown 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 223,696.98 223,696.98 01/20/2026 Coupon 57629W5B2 2,140,000.00 MASSMUTUAL GLOBAL FUNDING II 4.85 01/17/2029 51,895.00 51,895.00
01/23/2026 Coupon 46647PAM8 3,300,000.00 JPMORGAN CHASE & CO 3.509 01/23/2029 57,898.50 57,898.50 01/26/2026 Coupon 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 4,249.18 4,249.18 01/26/2026 Principal Paydown 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 245,682.97 245,682.97 01/26/2026 Coupon 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 8,007.42 8,007.42 01/26/2026 Principal Paydown 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 11,634.23 11,634.23 01/26/2026 Coupon 3137BSP72 1,500,000.00 FHMS K-058 A2 2.653 08/25/2026 3,316.25 3,316.25 01/26/2026 Coupon 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 7,752.73 7,752.73 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 59

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/26/2026 Principal Paydown 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 123,110.91 123,110.91 01/26/2026 Coupon 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 8,990.84 8,990.84 01/26/2026 Principal Paydown 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 5,272.04 5,272.04 01/26/2026 Coupon 3137FETN0 6,000,000.00 FHMS K-073 A2 3.35 01/25/2028 16,750.00 16,750.00 01/26/2026 Coupon 3137FG6X8 5,320,000.00 FHMS K-077 A2 3.85 05/25/2028 17,068.33 17,068.33 01/26/2026 Coupon 3137FGR31 1,997,000.00 FHMS K-078 A2 3.854 06/25/2028 6,413.70 6,413.70 01/26/2026 Coupon 3137FJEH8 3,148,000.00 FHMS K-081 A2 3.9 08/25/2028 10,231.00 10,231.00 01/26/2026 Coupon 3137FJKE8 2,500,000.00 FHMS K-082 A2 3.92 09/25/2028 8,166.67 8,166.67 01/26/2026 Coupon 3137FLMV3 4,950,000.00 FHMS K-090 A2 3.422 02/25/2029 14,115.75 14,115.75 01/26/2026 Coupon 3137FLYV0 3,000,000.00 FHMS K-092 A2 3.298 04/25/2029 8,245.00 8,245.00 01/26/2026 Coupon 3137H4BY5 5,000,000.00 FHMS K-746 A2 2.031 09/25/2028 8,462.50 8,462.50 01/26/2026 Coupon 3137H5YC5 8,000,000.00 FHMS K-748 A2 2.26 01/25/2029 15,066.67 15,066.67 January 2026 Total 1,352,985.11 724,919.69 2,077,904.80 FEBRUARY 2026
02/02/2026 Coupon 13063EGT7 4,395,000.00 CALIFORNIA STATE 4.5 08/01/2029 98,887.50 98,887.50 02/02/2026 Coupon 61747YFA8 2,650,000.00 MORGAN STANLEY 5.123 02/01/2029 67,879.75 67,879.75 02/02/2026 Coupon 78016HZS2 3,500,000.00 ROYAL BANK OF CANADA 5.2 08/01/2028 91,000.00 91,000.00 02/02/2026 Coupon 91282CFB2 1,300,000.00 UNITED STATES TREASURY 2.75 07/31/2027 17,875.00 17,875.00 02/02/2026 Coupon 91282CGH8 7,000,000.00 UNITED STATES TREASURY 3.5 01/31/2028 122,500.00 122,500.00 02/02/2026 Coupon 91282CJW2 5,000,000.00 UNITED STATES TREASURY 4.0 01/31/2029 100,000.00 100,000.00 02/02/2026 Coupon 91282CMG3 4,500,000.00 UNITED STATES TREASURY 4.25 01/31/2030 95,625.00 95,625.00 02/09/2026 Coupon 63743HFN7 2,500,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.85 02/07/2029 60,625.00 60,625.00
02/10/2026 Coupon 69371RS64 1,670,000.00 PACCAR FINANCIAL CORP 4.95 08/10/2028 41,332.50 41,332.50 02/16/2026 Coupon 05522RDJ4 2,095,000.00 BACCT 2024-1 A 4.93 05/15/2029 8,606.96 8,606.96 02/16/2026 Coupon 161571HT4 3,645,000.00 CHAIT 2023-1 A 5.16 09/15/2028 15,673.50 15,673.50 02/16/2026 Coupon 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 6,637.03 6,637.03 02/16/2026 Principal Paydown 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 97,264.63 97,264.63 02/16/2026 Coupon 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 11,718.63 11,718.63 02/16/2026 Principal Paydown 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 177,588.18 177,588.18 02/16/2026 Coupon 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 8,100.11 8,100.11 02/16/2026 Principal Paydown 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 108,256.04 108,256.04 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 60

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/16/2026 Coupon 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 5,033.32 5,033.32 02/16/2026 Principal Paydown 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 118,183.88 118,183.88 02/16/2026 Coupon 44935CAD3 2,625,000.00 HART 2025-A A3 4.32 10/15/2029 9,450.00 9,450.00 02/16/2026 Coupon 44935WAD9 2,090,000.00 HALST 2025-A A3 4.83 01/18/2028 8,412.25 8,412.25 02/16/2026 Coupon 47786WAD2 2,100,000.00 JDOT 2024-B A3 5.2 03/15/2029 9,100.00 9,100.00 02/16/2026 Coupon 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 2,579.34 2,579.34 02/16/2026 Principal Paydown 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 64,412.90 64,412.90 02/16/2026 Coupon 47800DAD6 2,080,000.00 JDOT 2025 A3 4.23 09/17/2029 7,332.00 7,332.00 02/16/2026 Coupon 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,520.76 4,520.76 02/16/2026 Principal Paydown 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 74,389.72 74,389.72 02/17/2026 Coupon 02582JKH2 3,070,000.00 AMXCA 2024-1 A 5.23 04/16/2029 13,380.08 13,380.08 02/17/2026 Coupon 02582JKP4 3,380,000.00 AMXCA 2025-2 A 4.28 04/15/2030 12,055.33 12,055.33 02/17/2026 Coupon 05522RDH8 2,000,000.00 BACCT 2023-2 A 4.98 11/16/2026 8,300.00 8,300.00 02/17/2026 Coupon 171239AL0 3,700,000.00 CHUBB INA HOLDINGS LLC 4.65 08/15/2029 86,025.00 86,025.00 02/17/2026 Coupon 30303M8S4 2,280,000.00 META PLATFORMS INC 4.3 08/15/2029 49,020.00 49,020.00 02/17/2026 Coupon 91324PEP3 1,500,000.00 UNITEDHEALTH GROUP INC 5.25 02/15/2028 39,375.00 39,375.00 02/17/2026 Coupon 92970QAE5 2,330,000.00 WFCIT 2024-2 A 4.29 10/15/2029 8,329.75 8,329.75 02/18/2026 Coupon 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 5,879.96 5,879.96 02/18/2026 Principal Paydown 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 79,194.45 79,194.45 02/20/2026 Coupon 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 4,741.79 4,741.79 02/20/2026 Principal Paydown 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 194,061.27 194,061.27 02/25/2026 Coupon 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 3,229.60 3,229.60 02/25/2026 Principal Paydown 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 194,609.91 194,609.91 02/25/2026 Coupon 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 7,957.20 7,957.20 02/25/2026 Principal Paydown 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 102,981.93 102,981.93 02/25/2026 Coupon 3137BSP72 1,500,000.00 FHMS K-058 A2 2.653 08/25/2026 3,316.25 3,316.25 02/25/2026 Coupon 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 7,432.64 7,432.64 02/25/2026 Principal Paydown 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 24,894.11 24,894.11 02/25/2026 Coupon 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 8,975.03 8,975.03 02/25/2026 Principal Paydown 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 5,290.17 5,290.17 02/25/2026 Coupon 3137FETN0 6,000,000.00 FHMS K-073 A2 3.35 01/25/2028 16,750.00 16,750.00 02/25/2026 Coupon 3137FG6X8 5,320,000.00 FHMS K-077 A2 3.85 05/25/2028 17,068.33 17,068.33 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 61

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/25/2026 Coupon 3137FGR31 1,997,000.00 FHMS K-078 A2 3.854 06/25/2028 6,413.70 6,413.70 02/25/2026 Coupon 3137FJEH8 3,148,000.00 FHMS K-081 A2 3.9 08/25/2028 10,231.00 10,231.00 02/25/2026 Coupon 3137FJKE8 2,500,000.00 FHMS K-082 A2 3.92 09/25/2028 8,166.67 8,166.67 02/25/2026 Coupon 3137FLMV3 4,950,000.00 FHMS K-090 A2 3.422 02/25/2029 14,115.75 14,115.75 02/25/2026 Coupon 3137FLYV0 3,000,000.00 FHMS K-092 A2 3.298 04/25/2029 8,245.00 8,245.00 02/25/2026 Coupon 3137H4BY5 5,000,000.00 FHMS K-746 A2 2.031 09/25/2028 8,462.50 8,462.50 02/25/2026 Coupon 3137H5YC5 8,000,000.00 FHMS K-748 A2 2.26 01/25/2029 15,066.67 15,066.67 02/26/2026 Coupon 17275RBR2 1,960,000.00 CISCO SYSTEMS INC 4.85 02/26/2029 47,530.00 47,530.00 02/27/2026 Coupon 14913UAJ9 2,500,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.85 02/27/2029 60,625.00 60,625.00
February 2026
Total 1,241,127.20 1,263,580.89 2,504,708.09
MARCH 2026
03/02/2026 Coupon 74456QBX3 3,000,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.65 09/01/2028 54,750.00 54,750.00
03/02/2026 Coupon 91282CCW9 1,570,000.00 UNITED STATES TREASURY 0.75 08/31/2026 5,887.50 5,887.50 03/02/2026 Coupon 91282CFH9 3,450,000.00 UNITED STATES TREASURY 3.125 08/31/2027 53,906.25 53,906.25 03/02/2026 Coupon 91282CGP0 7,000,000.00 UNITED STATES TREASURY 4.0 02/29/2028 140,000.00 140,000.00 03/02/2026 Coupon 91282CHX2 1,900,000.00 UNITED STATES TREASURY 4.375 08/31/2028 41,562.50 41,562.50 03/02/2026 Coupon 91282CKD2 7,000,000.00 UNITED STATES TREASURY 4.25 02/28/2029 148,750.00 148,750.00 03/02/2026 Coupon 91282CLK5 8,000,000.00 UNITED STATES TREASURY 3.625 08/31/2029 145,000.00 145,000.00 03/03/2026 Coupon 808513BY0 1,300,000.00 CHARLES SCHWAB CORP 2.45 03/03/2027 15,925.00 15,925.00 03/05/2026 Coupon 02665WFY2 3,500,000.00 AMERICAN HONDA FINANCE CORP 4.8 03/05/2030 84,000.00 84,000.00
03/09/2026 Coupon 57636QAW4 2,090,000.00 MASTERCARD INC 4.875 03/09/2028 50,943.75 50,943.75 03/10/2026 Coupon 89114TZT2 1,900,000.00 TORONTO-DOMINION BANK 2.8 03/10/2027 26,600.00 26,600.00 03/16/2026 Coupon 02582JKH2 3,070,000.00 AMXCA 2024-1 A 5.23 04/16/2029 13,380.08 13,380.08 03/16/2026 Coupon 02582JKP4 3,380,000.00 AMXCA 2025-2 A 4.28 04/15/2030 12,055.33 12,055.33 03/16/2026 Coupon 05522RDH8 2,000,000.00 BACCT 2023-2 A 4.98 11/16/2026 8,300.00 8,300.00 03/16/2026 Coupon 05522RDJ4 2,095,000.00 BACCT 2024-1 A 4.93 05/15/2029 8,606.96 8,606.96 03/16/2026 Coupon 161571HT4 3,645,000.00 CHAIT 2023-1 A 5.16 09/15/2028 15,673.50 15,673.50 03/16/2026 Coupon 26442UAH7 1,500,000.00 DUKE ENERGY PROGRESS LLC 3.45 03/15/2029 25,875.00 25,875.00 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 62

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/16/2026 Coupon 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 6,243.92 6,243.92 03/16/2026 Principal Paydown 36268GAD7 1,985,000.00 GMCAR 2024-1 A3 4.85 12/18/2028 94,247.65 94,247.65 03/16/2026 Coupon 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 10,947.60 10,947.60 03/16/2026 Principal Paydown 437918AC9 3,435,000.00 HAROT 2024-1 A3 5.21 08/15/2028 172,163.01 172,163.01 03/16/2026 Coupon 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 7,649.95 7,649.95 03/16/2026 Principal Paydown 448973AD9 2,000,000.00 HART 2024-A A3 4.99 02/15/2029 104,833.93 104,833.93 03/16/2026 Coupon 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 4,500.51 4,500.51 03/16/2026 Principal Paydown 44934FAD7 1,615,000.00 HALST 2024-B A3 5.41 05/17/2027 133,618.77 133,618.77 03/16/2026 Coupon 44935CAD3 2,625,000.00 HART 2025-A A3 4.32 10/15/2029 9,450.00 9,450.00 03/16/2026 Coupon 44935WAD9 2,090,000.00 HALST 2025-A A3 4.83 01/18/2028 8,412.25 8,412.25 03/16/2026 Coupon 47786WAD2 2,100,000.00 JDOT 2024-B A3 5.2 03/15/2029 9,100.00 9,100.00 03/16/2026 Principal Paydown 47786WAD2 2,100,000.00 JDOT 2024-B A3 5.2 03/15/2029 13,198.91 13,198.91 03/16/2026 Coupon 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 2,310.41 2,310.41 03/16/2026 Principal Paydown 47800CAC0 1,409,212.66 JDOT 2023 A3 5.01 11/15/2027 57,475.87 57,475.87 03/16/2026 Coupon 47800DAD6 2,080,000.00 JDOT 2025 A3 4.23 09/17/2029 7,332.00 7,332.00 03/16/2026 Coupon 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 4,190.96 4,190.96 03/16/2026 Principal Paydown 58770JAD6 1,085,000.00 MBALT 2024-A A3 5.32 01/18/2028 70,067.21 70,067.21 03/16/2026 Coupon 58989V2D5 1,715,000.00 MET TOWER GLOBAL FUNDING 1.25 09/14/2026 10,718.75 10,718.75
03/16/2026 Coupon 880591EZ1 3,500,000.00 TENNESSEE VALLEY AUTHORITY 3.875 03/15/2028 67,812.50 67,812.50
03/16/2026 Coupon 92970QAE5 2,330,000.00 WFCIT 2024-2 A 4.29 10/15/2029 8,329.75 8,329.75 03/17/2026 Coupon 931142ER0 785,000.00 WALMART INC 1.05 09/17/2026 4,121.25 4,121.25 03/18/2026 Coupon 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 5,532.16 5,532.16 03/18/2026 Principal Paydown 437930AC4 1,415,000.00 HAROT 2024-2 A3 5.27 11/20/2028 76,732.02 76,732.02 03/20/2026 Coupon 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 3,870.13 3,870.13 03/20/2026 Principal Paydown 36269WAD1 1,495,000.00 GMALT 2024-2 A3 5.39 07/20/2027 179,511.25 179,511.25 03/20/2026 Coupon 459058LR2 4,500,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 92,812.50 92,812.50
03/25/2026 Coupon 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 2,421.97 2,421.97 03/25/2026 Principal Paydown 05611UAD5 1,800,000.00 BMWLT 2024-1 A3 4.98 03/25/2027 197,135.65 197,135.65 03/25/2026 Coupon 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 7,512.66 7,512.66 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 63

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/25/2026 Principal Paydown 096919AD7 1,855,000.00 BMWOT 2024-A A3 5.18 02/26/2029 99,801.12 99,801.12 03/25/2026 Coupon 3137BSP72 1,500,000.00 FHMS K-058 A2 2.653 08/25/2026 3,316.25 3,316.25 03/25/2026 Coupon 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 7,367.92 7,367.92 03/25/2026 Principal Paydown 3137BSRE5 3,000,000.00 FHMS K-059 A2 3.12 09/25/2026 224,523.04 224,523.04 03/25/2026 Coupon 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 8,959.16 8,959.16 03/25/2026 Principal Paydown 3137F4D41 3,000,000.00 FHMS K-074 A2 3.6 01/25/2028 6,484.58 6,484.58 03/25/2026 Coupon 3137FETN0 6,000,000.00 FHMS K-073 A2 3.35 01/25/2028 16,750.00 16,750.00 03/25/2026 Coupon 3137FG6X8 5,320,000.00 FHMS K-077 A2 3.85 05/25/2028 17,068.33 17,068.33 03/25/2026 Coupon 3137FGR31 1,997,000.00 FHMS K-078 A2 3.854 06/25/2028 6,413.70 6,413.70 03/25/2026 Coupon 3137FJEH8 3,148,000.00 FHMS K-081 A2 3.9 08/25/2028 10,231.00 10,231.00 03/25/2026 Coupon 3137FJKE8 2,500,000.00 FHMS K-082 A2 3.92 09/25/2028 8,166.67 8,166.67 03/25/2026 Coupon 3137FLMV3 4,950,000.00 FHMS K-090 A2 3.422 02/25/2029 14,115.75 14,115.75 03/25/2026 Coupon 3137FLYV0 3,000,000.00 FHMS K-092 A2 3.298 04/25/2029 8,245.00 8,245.00 03/25/2026 Coupon 3137H4BY5 5,000,000.00 FHMS K-746 A2 2.031 09/25/2028 8,462.50 8,462.50 03/25/2026 Coupon 3137H5YC5 8,000,000.00 FHMS K-748 A2 2.26 01/25/2029 15,066.67 15,066.67 03/26/2026 Coupon 40139LBJ1 3,050,000.00 GUARDIAN LIFE GLOBAL FUNDING 4.179 09/26/2029 63,729.75 63,729.75
March 2026 Total 1,429,793.01 1,312,377.84 2,742,170.85 Grand Total 1,672,827,599.31 55,570,392.22 12,900,104.20 68,470,496.43 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/21/2025 08:16:54 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 64

IMPORTANT DISCLOSURES
City of Corona Cons Account | Account #10003 | As of April 30, 2025 Chandler Asset Management, Inc. (“Chandler”) is an SEC registered investment adviser. For additional information about our firm, please see our current disclosures (Form ADV).

To obtain a copy of our current disclosures, you may contact your client service representative by calling the number on the front of this statement or you may visit our website at www.chandlerasset.com.

Information contained in this monthly statement is and is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of this statement, but may become outdated or superseded at any time without notice.

Custody: Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account.

Valuation: Prices are provided by IDC, an independent pricing source. In the event IDC does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance: Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE INDICES AND RELATED DATA ON AN “AS IS” BASIS; ICE, ITS AFFILIATES AND

THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM.

NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS GUARANTEE THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN “AS IS” BASIS AND LICENSEE’S USE IS AT LICENSEE’S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND CHANDLER, OR ANY OF ITS PRODUCTS OR SERVICES.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Ratings: Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a high rating by S&P, Moody’s and Fitch respectively.

Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

* Grouped by: Security Type. * Groups Sorted by: Security Type. * Weighted by: Market Value. * Holdings Displayed by: Position by Account.

Security Type Original Units Market Value Book Value % of Market Value Years to Final Maturity Days to Final Maturity Yield to MaturityABS 51,860,000.00 44,376,859.56 43,945,286.87 10.28% 3.13 1144 4.28Agency 33,180,000.00 32,881,712.41 33,076,554.85 7.62% 0.88 322 4.16Agency CMBS 47,415,000.00 46,138,381.69 45,002,979.99 10.69% 3.16 1155 4.03Cash 106,345.23 106,345.23 106,345.23 0.02% 0.00 0 0.00Corporate 114,318,000.00 114,297,569.50 113,090,436.96 26.47% 3.09 1127 4.20LAIF 19,701,691.86 19,701,691.86 19,701,691.86 4.56% 0.00 0 --- Money Market Fund 2,707,514.64 2,707,514.64 2,707,514.64 0.63% 0.00 0 4.00Municipal Bonds 4,395,000.00 4,470,277.56 4,418,161.65 1.04% 4.25 1554 4.06Supranational 21,690,000.00 21,480,632.16 21,544,534.65 4.97% 2.40 877 3.96US Treasury 144,620,000.00 145,621,134.60 143,892,172.71 33.73% 3.29 1200 3.66--- 439,993,551.73 431,782,119.22 427,485,679.41 100.00% 2.82 1028 3.98 Corona Supplemental City of Corona ConsAgg (362432)As of 04/30/2025 Dated: 05/07/2025 1 Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

MONTHLY ACCOUNT STATEMENT
City of Corona Pension Stabilization Trust | Account #10952 | As of April 30, 2025 CHANDLER ASSET MANAGEMENT | chandlerasset.com
Information contained herein is . We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian:

Charles Schwab Inc.

Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/01/2025 09:38:42 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 2

PORTFOLIO SUMMARY
Performance Review
Total Rate of Return** 1M 3M YTD 1YR 2YRS 3YRS 5YRS 10YRS Since Inception (08/01/22)
Corona Pension Trust (0.55%) (5.28%) (2.70%) 8.74% 10.62% -- -- -- 9.42% Benchmark Return 0.92% (0.17%) 1.88% 10.74% 9.47% -- -- -- 7.60% **Periods over 1 year are annualized.

Benchmark: 35% S&P 500 TR, 50% ICE Corp Gov & Mtg Index, 15% MSCI EAFE NR Secondary Benchmark:

Account Summary
End Values as of
03/31/2025
End Values as of
04/30/2025
Market Value 51,184,241.19 50,902,024.38
Accrued Interest 0.00 0.00
Total Market Value 51,184,241.19 50,902,024.38
Income Earned 193,816.64 33,729.01
Cont/WD 2,700,000.00 0.00
Par 593,501.19 627,237.98
Book Value 43,563,845.60 43,597,582.39
Cost Value 43,563,845.60 43,597,582.39

TOP ISSUERS
iShares Trust - iShares Core S&P 500 30.35%
Vanguard Bond Index Funds - Vanguard 16.84%
iShares Trust - iShares Core S&P Mid 14.71%
Vanguard Index Funds - Vanguard Smal 13.65%
Vanguard Tax-Managed Funds - Vanguar 10.26%
Vanguard Specialized Funds - Vanguar 7.85%
Total 93.65%
Asset Allocation
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/01/2025 09:38:42 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 3

STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes

CASH EQUIVALENTS
Max % (MV; Cash & Fixed Income) 30.0 19.1 Compliant
Min % (MV; Cash & Fixed Income) 10.0 19.1 Compliant

COMMODITIES
Max % (MV) 5.0 0.0 Compliant
Min % (MV) 0.0 0.0 Compliant

EQUITIES
Max % (MV) 80.0 71.0 Compliant
Min % (MV) 50.0 71.0 Compliant

FIXED INCOME
Max % (MV; Cash & Fixed Income) 30.0 19.1 Compliant
Min % (MV; Cash & Fixed Income) 10.0 19.1 Compliant
Min Rating (BBB- by 1) 0.0 0.0 Compliant
REITS
Max % (MV) 15.0 10.0 Compliant
Min % (MV) 0.0 10.0 Compliant
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/01/2025 09:38:42 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 4

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Cash 116,787.98 --

0.00%
116,787.98
116,787.98

1.00 0.00%
116,787.98

0.00 0.23%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 116,787.98 0.00%
116,787.98
116,787.98

1.00 0.00%
116,787.98

0.00 0.23%

0.00 0.00

0.00 EMERGING

MARKET EQUITY
922042858 VANGUARD EM ST I ETF 22,450.00 --

0.00%
884,907.12
884,907.12

45.25 0.00%
1,015,862.50

0.00 2.00%
130,955.39
NA/NA
NA 0.00
Total Emerging
Market Equity 22,450.00 0.00%
884,907.12
884,907.12

45.25 0.00%
1,015,862.50

0.00 2.00%
130,955.39 0.00

INTERNATIONAL
EQUITY
921943858 VANGUARD DEV MKT ETF 98,750.00 --

0.00%
4,266,381.44
4,266,381.44

52.87 0.00%
5,220,912.50

0.00 10.26%
954,531.06
NA/NA
NA 0.00
Total International
Equity 98,750.00 0.00%
4,266,381.44
4,266,381.44

52.87 0.00%
5,220,912.50

0.00 10.26%
954,531.06 0.00

INTERNATIONAL

REAL ESTATE
922042676 VANGUARD GXUS RE ETF 25,315.00 --

0.00%
1,043,765.11
1,043,765.11

42.90 0.00%
1,086,013.50

0.00 2.13%
42,248.39
NA/NA
NA 0.00
Total International
Real Estate 25,315.00 0.00%
1,043,765.11
1,043,765.11

42.90 0.00%
1,086,013.50

0.00 2.13%
42,248.39 0.00

LARGE CAP US
EQUITY
464287200 ISHARES:CORE S&P 500 27,685.00 --

0.00%
11,327,322.90
11,327,322.90
557.96

0.00%
15,447,122.60

0.00 30.35%
4,119,799.70
NA/NA
NA 0.00
Total Large Cap US
Equity 27,685.00 0.00%
11,327,322.90
11,327,322.90
557.96

0.00%
15,447,122.60

0.00 30.35%
4,119,799.70 0.00

MID CAP US
EQUITY
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17

Execution Time: 05/01/2025 09:38:42 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747 | 5

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
464287507 ISHARES:CORE S&P MD-CP 131,550.00 --

0.00%
6,422,098.29
6,422,098.29

56.91 0.00%
7,486,510.50

0.00 14.71%
1,064,412.21
NA/NA
NA 0.00
Total Mid Cap US
Equity 131,550.00 0.00%
6,422,098.29
6,422,098.29

56.91 0.00%
7,486,510.50

0.00 14.71%
1,064,412.21 0.00

REAL ESTATE
922908553 VANGUARD RE IDX ETF 45,215.00 --

0.00%
3,931,310.50
3,931,310.50

88.33 0.00%
3,993,840.95

0.00 7.85%
62,530.45
NA/NA
NA 0.00
Total Real Estate 45,215.00 0.00%
3,931,310.50
3,931,310.50

88.33 0.00%
3,993,840.95

0.00 7.85%
62,530.45 0.00

SMALL CAP US
EQUITY
922908751 VANGUARD S-C ID ETF 32,150.00 --

0.00%
6,124,324.50
6,124,324.50
216.15

0.00%
6,949,222.50

0.00 13.65%
824,898.00
NA/NA
NA 0.00
Total Small Cap US
Equity 32,150.00 0.00%
6,124,324.50
6,124,324.50
216.15

0.00%
6,949,222.50

0.00 13.65%
824,898.00 0.00

US CORE BONDS
921937835 VANGUARD TOT BD ETF 116,650.00 --

0.00%
8,492,312.28
8,492,312.28

73.50 0.00%
8,573,775.00

0.00 16.84%
81,462.72
NA/NA
NA 0.00
Total US Core
Bonds 116,650.00 0.00%
8,492,312.28
8,492,312.28

73.50 0.00%
8,573,775.00

0.00 16.84%
81,462.72 0.00

US HIGH YIELD
BONDS
78468R622 SPDR BBG HIGH YIELD BD 10,685.00 --

0.00%
988,372.27
988,372.27

94.71 0.00%
1,011,976.35

0.00 1.99%
23,604.08
NA/NA
NA 0.00
Total US High Yield
Bonds 10,685.00 0.00%
988,372.27
988,372.27

94.71 0.00%
1,011,976.35

0.00 1.99%
23,604.08 0.00
Total Portfolio 627,237.98 0.00%
43,597,582.39
43,597,582.39
235.64

0.00%
50,902,024.38

0.00 100.00%
7,304,441.99

0.00 0.00
Total Market Value
+ Accrued 50,902,024.38
Docusign Envelope ID: 08B6795C-92AF-4E22-A7E7-352BB2F8DF17