Agenda packet — Gardena City Council, June 24, 2025

GARDENA CITY COUNCIL
Regular Meeting Notice and Agenda
Council Chamber at City Hall
1700 West 162
nd
Street, Gardena, California
Website:
www.cityofgardena.org
Tuesday, June 24, 2025
Closed Session 7:00 p.m.

Open Session 7:30 p.m.

TASHA CERDA
,
Mayor
RODNEY G. TANAKA
,
Mayor Pro Tem
MARK E. HENDERSON
,
Council Member
PAULETTE C. FRANCIS
,
Council Member

WANDA LOVE
,
Council Member

MINA SEMENZA
,
City Clerk
GUY H. MATO,
City Treasurer

CLINT OSORIO
, City Manager

CARMEN VASQUEZ
,
City Attorney

LISA KRANITZ
,
Assistant City Attorney

ROSEMARY KOO
,
Assistant City Attorney
If you would like to participate in this meeting, you can participate via the following options:
1 .

VIEW THE MEETING live on SPECTRUM CHANNEL 22 or ONLINE at youtube.com/CityofGardena

2 .

PARTICIPATE BEFORE THE MEETING
by emailing the Deputy City Clerk at
[email protected]
by 5:00p.m. on the day of the meeting and write
"Public Comment" in the subject line.
3 .

ATTEND THE MEETING IN PERSON

PUBLIC COMMENT
:

The City Council will hear from the public on any item on the agenda or any item of interest that is not on the agenda at the following times:

Agenda Items – At the time the City Council considers the item or during Oral Communications
Non-agenda Items – During Oral Communications
Public Hearings – At the time for Public Hearings listed on the Agenda If you wish to address the Council, please complete a “Speaker Request” form and present it to the City Clerk or Sergeant of Arms. You will be called to the podium by name when it is your turn to address the Council. The City Council cannot legally take action on any item not scheduled on the Agenda. Such items may be referred for administrative action or scheduled on a future Agenda. Members of the public wishing to address the City Council will be given three (3) minutes to speak. 4 .

The City of Gardena, in complying with the Americans with Disabilities Act (ADA), requests individuals who require special accommodations to access, attend and/or participate in the City meeting due to disability, to please contact the City Clerk's Office by phone (310) 217-9565 or email
[email protected]
at least 24 business
hours prior to the scheduled general meeting to ensure assistance is provided. Assistive listening devices are available.

1. ROLL CALL

2. CLOSED SESSION

2.A

CONFERENCE WITH LEGAL COUNSEL- ANTICIPATED LITIGATION
Significant exposure to litigation, pu
rsuant to subdivision (d)(2) of Government
Code Section 54956.9
One Potential Case

3. PLEDGE OF ALLEGIANCE

4. INVOCATION
Associate Pastor Stanley A. White
Mount Tabor Missionary Baptist Church

5. PRESENTATIONS

5.A
Boards & Commissions Presentation - Rent Mediation Board

5.B
Certificate of Recognition to Barbara Phillips in appreciation of her service to the community as a Member of the Gardena Beautification Commission

Recog-outgoing Commissioner - B. Phillips

5.C
Certificates of Commendation presented to the members of the Fourth Gardena Police Department Community Academy

Certificates of Commendation

5.D
Gardena Police Department Fireworks Enforcement Plan 2025

5.E
Gardena Events Video Presentation

6. PROCLAMATIONS

STANDARDS OF BEHAVIOR THAT PROMOTE CIVILITY AT ALL PUBLIC MEETINGS Treat everyone courteously;
Listen to others respectfully;
Exercise self-control;
Give open-minded consideration to all viewpoints;
Focus on the issues and avoid personalizing debate; and Embrace respectful disagreement and dissent as democratic rights, inherent components of an inclusive public process, and tools for forging sound decisions Thank you for your attendance and cooperation

PUBLIC COMMENT ON CLOSED SESSION

CITY ATTORNEY REPORT OUT OF CLOSED SESSION

7. APPOINTMENTS

7.A
Council Appointments to Commissions, Committees, Councils and Boards (Appointees to be Ratified and Sworn In)
Gardena Economic Business Advisory Commission (GEBAC) - Donald Penegar (Appointed by Council Member Love)

8. CONSENT CALENDAR

NOTICE TO THE PUBLIC
- Roll Call Vote Required On The Consent Calendar
All matters listed under the Consent Calendar will be enacted by one motion unless a Council Member requests Council discussion, in which case that item will be removed from the Consent Calendar and considered separately following this portion of the agenda.

PUBLIC COMMENT ON CONSENT CALENDAR

8.A
Waiver of Reading in Full of All Ordinances Listed on this Agenda and that they be Read by Title Only
CONTACT: CITY CLERK

8.B
Approve Minutes
Regular Meeting of the City Council, June 10, 2025
CONTACT: CITY CLERK

06102025 CC MEETING - FINAL.pdf

8.C
Approval of Warrants/Payroll Register, June 24, 2025
CONTACT: ADMINISTRATIVE SERVICES

Warrant-Payroll Register 06-24-25.pdf

8.D
Monthly Investment Portfolio, May 2025
CONTACT: ADMINISTRATIVE SERVICES

May 2025 Investment Report.pdf

8.E
Personnel Report P-2025-11 06-24-25
CONTACT: ADMINISTRATIVE SERVICES

PERS RPT P-2025-11 06-24-25.pdf

8.F
Ratification of the City Council's May 13, 2025, Approval of the Authorization to Purchase a 2025 Ford Transit - 350 MR Passenger XL RWD Vehicle CONTACT: RECREATION AND HUMAN SERVICES

05-13-2025 Certified Minutes Excerpt for REC Item 17.B Authorization to Purchase a 2025 Ford Transit - 350 MR Passenger XL RWD Vehicle in the amount of $64,357.90.pdf

Central Ford_Revised Quote_69,234.62.pdf

8.G
Ratification of the City Council's May 13, 2025, Approval of the Authorization to Purchase a 2024 Chrysler Pacifica Touring ADA Commercial Mini Van with Folding Ramp
CONTACT: RECREATION AND HUMAN SERVICES

invoice 75316 for 71551.06.pdf

05-13-2025 Certified Minutes Excerpt for REC Item 17.C Authorization to Purchase a 2024 Chrysler Pacifica Touring ADA Mini Van from Mobility Works-Amount $71,551.06.docx.pdf

United Access Invoice

8.H
Approval of an Annual Bingo Permit - Gardena Buddhist Church CONTACT: COMMUNITY DEVELOPMENT

Application.pdf

Planning Memo.pdf

Gardena Police Dept Memo.pdf

LA CO Fire Memo.pdf

9. EXCLUDED CONSENT CALENDAR

10. PLANNING & ENVIRONMENTAL QUALITY COMMISSION ACTION SHEET

10.A
JUNE 3, 2025 MEETING
-
Meeting Cancelled

2025_06_03 CANCELLATION.pdf

10.B
JUNE 17, 2025, MEETING
ENVIRONMENTAL ASSESSMENT #15-24, CONDITIONAL USE PERMIT #5-24, SITE PLAN REVIEW #3-24, AND TENTATIVE PARCEL MAP #1-24
The Planning and Environmental Quality Commission considered staff's request to open and continue the public hearing to the regularly scheduled meeting of the Planning and Environmental Quality Commission on July 15, 2025, at 7:00 PM in the Council Chamber.

The project requests a Conditional Use Permit (CUP #5-24) to allow warehouse operations in the General Industrial (M-2) zone in accordance with Section

18.46.030.C.18 of the Gardena Municipal Code; Site Plan Review (SPR #3-24) to permit the demolition of an existing 233,634 sf single-tenant warehouse building and replace with four (4) new warehouse buildings containing 15 tenant spaces, totaling 223,509 sf, a new parking and circulation plan, lighting, fencing, and landscaping improvements; Tentative Parcel Map (TPM #1-24) to permit the merger of eight lot-tied parcels into one single parcel for the site development; and Environmental Assessment (EA #15-24) to consider the proposed project for a categorical exemption pursuant to CEQA Guidelines § 15302(b) Class 2, as a replacement or reconstruction of existing structures and facilities.

LOCATION: 1855 W. 139th Street, Gardena, CA 90249 (APN: 4061-025-130) APPLICANT: Terreno LLC

Commission Action:

The Planning and Environmental Quality Commission
approved the request, by 3-0 vote, to open and continue the public hearing on the project, to the regularly scheduled meeting of the Planning and Environmental Quality Commission on July 15, 2025, at 7:00 PM in the Council Chamber.

City Council Action:

No action needed.

10.C
JUNE 17, 2025, MEETING

RECEIVE BROWN ACT TRAINING FROM THE CITY ATTORNEY'S OFFICE Assistant City Attorney, Rosemary Koo, provided Brown Act training for the members of the Planning and Environmental Quality Commission.

Commission Action
: Received Brown Act training from the City Attorney's office.

City Council Action:

No action needed.

To view the complete Planning Commission agenda packet, CLICK HERE.

2025_06_17 PCAX

11. ORAL COMMUNICATIONS (
LIMITED TO A 30-MINUTE PERIOD)
Oral Communications by the public will be heard for one-half hour at or before 8:30 p.m. or at the conclusion of the last agenda item commenced prior to 8:30 p.m. Oral Communications not concluded at that time shall be resumed at the end of the meeting after Council Reports. Speakers are to limit their remarks to three minutes, unless extended by the Mayor. An amber light will appear to alert the speaker when two minutes are complete, and a red light will appear
when three minutes are over. Your cooperation
is appreciated.

12. DEPARTMENTAL ITEMS - ADMINISTRATIVE SERVICES

12.A
PUBLIC HEARING: RESOLUTION NO. 6703
: Adopting the City of Gardena's
Fiscal Year 2025-2026 Proposed Amended Budget
Staff Recommendation:

Staff recommends that the City Council:

Open the public hearing;
Receive testimony from the public, allow three (3) minutes for each speaker Close the public hearing

Staff Recommendation for Motion:

Adopt Resolution No. 6703

Resolution No. 6703 - Adopting Amended Budget FY2025-26.pdf

Proposed Amended Budget FY 2025-2026.pdf

12.B
PUBLIC HEARING: RESOLUTION NO. 6704
, Establishing the Appropriations Limit
for Fiscal Year 2025-2026 (GANN Limit)
Staff Recommendation: Staff respectfully recommends that the City Council:

Open the public hearing;
Receive testimony from the public, allow three (3) minutes for each speaker;
Close the public hearing

Staff Recommendation
Adopt Resolution No. 6704 which establishes the City's Appropriations Limit for Fiscal Year 2025-2026 at $153,171,077, as required by Article XIII (B) of the California Constitution.

Resolution No. 6704 - GANN Limit FY 25-26 with Exhibit A.pdf

12.C
RESOLUTION NO. 6705
, Acknowledging the Receipt and Filing of the Annual
Statement of Investment Policy for the Fiscal Year 2025-2026 Staff Recommendation: Adopt Resolution No. 6705

Reso. 6705 Investment Policy 2025-2026 with Exhibit A.pdf

12.D
Authorize the City Manager to Purchase and Bind Insurance Coverage in the amount of $119,570 for Fiscal Year 2024-2025, and $2,858,830 for Fiscal Year 2025-2026 for a total of $2,978,400
Staff Recommendation: Authorize the City Manager to Purchase and Bind Insurance Coverage in the amount o
f $119,570 for Fiscal Year 2024-2025 and
$2,858,830 for Fiscal Year 2025-2026 for a total of
$2,978,400

2025 - 2026 Insurance Coverages.pdf

13. DEPARTMENTAL ITEMS - COMMUNITY DEVELOPMENT

14. DEPARTMENTAL ITEMS - ELECTED & CITY MANAGER'S OFFICES

15. DEPARTMENTAL ITEMS - POLICE

16. DEPARTMENTAL ITEMS - PUBLIC WORKS

17. DEPARTMENTAL ITEMS - RECREATION & HUMAN SERVICES

17.A
RESOLUTION NO. 6707,
Amending the Naming of City-Owned Facilities Policy
Staff Recommendation: A
dopt Resolution No. 6707, amending the existing
policy for the naming and renaming of City-owned facilities, including parks, recreational facilities, public buildings, and rights-of-way

6707 Resolution_Signed.pdf

011112000 CC Mtg Agenda Item 9.B.(1).pdf

18. DEPARTMENTAL ITEMS - TRANSPORTATION

19. COUNCIL ITEMS

20. COUNCIL DIRECTIVES

21. CITY MANAGER REMARKS RE: DIRECTIVES / COUNCIL ITEMS

22. COUNCIL REMARKS
1 .

COUNCIL MEMBER HENDERSON
2 .

MAYOR PRO TEM TANAKA
3 .

COUNCIL MEMBER LOVE
4 .

MAYOR CERDA
5 .

COUNCIL MEMBER FRANCIS

23. ANNOUNCEMENT(S)

24. REMEMBRANCES

25. ADJOURNMENT
The Gardena City Council will adjourn to the Closed Session portion of the City Council Meeting at 7:00 p.m. followed by the Regular City Council Meeting at 7:30 p.m. on Tuesday, July 8, 2025.

I hereby certify under penalty of perjury under the laws of the State of California that the foregoing agenda was posted in the City Hall lobby not less than 72 hours prior to the meeting. A copy of said Agenda is available on our website at www.CityofGardena.org
.

Dated this 20th day of June 2025

/s/ MINA SEMENZA
MINA SEMENZA, City Clerk

1 MINUTES
Regular Meeting Notice
Gardena City Council
Tuesday, June 10, 2025

The Regular Meeting Notice and Agenda of the Gardena City Council of the City of Gardena, California, was called to order at 7:02 PM on Tuesday, June 10, 2025, in the Council Chamber at City Hall 1700 West 162nd Street, Gardena, California; Mayor Tasha Cerda presiding.

1. ROLL CALL

Present: Mayor Pro Tem Rodney G. Tanaka; Council Member Mark E Henderson; Council Member Paulette C. Francis; and Council Member Wanda Love. Other City officials and employees present: City Manager Clint Osorio; City Attorney Carmen Vasquez; City Clerk Mina Semenza; and Records Management Coordinator Katherine Rhee. Deputy City Clerk Becky Romero was away on an excused absence. It was noted for the record that Mayor Tasha Cerda was running a few minutes late.

PUBLIC COMMENT ON CLOSED SESSION

2. CLOSED SESSION

2.A CONFERENCE WITH LEGAL COUNSEL - EXISTING LITIGATION Government Code Section 54956.9(d)(1)
Tamika Williams v. City of Gardena
WCAB NO: ADJ17514578

2.B CONFERENCE WITH LEGAL COUNSEL - ANTICIPATED LITIGATION Significant exposure to litigation, pursuant to subdivision (d)(2) & (e)(3) of Government Code Section 54956.9

One Potential Case: Claim No. 20-03 REC, filed November 11, 2023, by Dominic Kemp, a minor, through his mother and Guardian Ad Litem, Vanessa Perez (Copy of Claim is available in the City Clerk's office)

CITY ATTORNEY REPORT OUT OF CLOSED SESSION

Mayor Cerda reconvened the meeting to the Regular Open Session at 7:44 p.m., and the City Clerk noted the return of all Council Members, who were present at the meeting, including Mayor Cerda. When City Attorney Vasquez was asked if there was any reportable action from Closed Session, she reported that all Members of the Council were present; staff was given direction but no reportable action was taken.

3. PLEDGE OF ALLEGIANCE

Nathan Gomez, 4th grade at Denker Elementary School led us in the Pledge of Allegiance.

Nathan attends the City’s Afterschool Program. His favorite hobbies are playing spor ts. He thanked the council for their support.

2 4. INVOCATION

Pastor Ataru Nakagawa, of the Gardena Japanese- American Seventh- Day Adventist Church, led the Invocation.

5. PRESENTATIONS

5.A Certificate of Commendation in Special Recognition of Retirement and Long-Time Service to the City of Gardena:

1. Atanacio Jimenez - Police Sergeant with the Gardena Police Department - 30 years – Police Chief Todd Fox spoke of Police S ergeant Atanacio Jimenez, who was unable to attend ( due to an injury), and his accomplishments throughout his career. He thanked S ergeant Jimenez and congratulated him on a well-earned retirement.

2. Marc Edwards - Bus Operator with the Transportation Department - 3 years Transportation Director Ernie Crespo wished Mr. Edwards the best in his retirement and thanked him for his service.

5.B Special Recognition of Ed Iskendarian for his dedication and contributions to the world of automotive performance in the City of Gardena and the South Bay – Mayor Cerda read a statement before a video was presented which included all of his accomplishments.

5.C Gardena Events Video Presentation – the video presentation highlighted the Recreation and Human Services Department’s current and future events.

6. PROCLAMATIONS

6.A "Pause for the Pledge of Allegiance" - June 14, 2025, through July 4, 2025 - was proclaimed only

6.B JUNETEENTH Commemoration Day - June 19, 2025 – was proclaimed only

7. APPOINTMENTS

7.A Council Appointments to Commissions, Committees, Councils and Boards (Appointees to be Ratified and Sworn In)

Beautification Commission - Darlene Castillo
(Appointed by Mayor Pro Tem Tanaka)

Senior Citizens Commission - Annie Roddy
(Appointed by Mayor Pro Tem Tanaka)

It was moved by Mayor Pro Tem Tanaka, seconded by Council Member Francis and carried by the following roll call vote to Appoint Ms. Darlene Castillo to the Beautification Commission and Ms. Annie Roddy to the Senior Citizens Commission:

3 Ayes: Mayor Pro Tem Tanaka, Council Member Francis, Council Member Henderson, Council Member Love, and Mayor Cerda
Noes: None

Absent: None

City Clerk Mina Semenza administered the Oath of Office to both Appointees and appropriate pictures were taken.

8. CONSENT CALENDAR

8.A Waiver of Reading in Full of All Ordinances Listed on this Agenda and that they be Read by Title Only
CONTACT: CITY CLERK

8.B Approve Minutes
Regular Meeting of the City Council, May 27, 2025
CONTACT: CITY CLERK

8.C Approval of Warrants/Payroll Register, June 10, 2025 CONTACT: ADMINISTRATIVE SERVICES

June 10, 2025: Wire Transfer: 12987, 13001-13009, Prepay: 180773-180774; Check Numbers: 180775-180930 for Total Warrants issued in the amount of $2,350,384.90; Total Payroll Issued for May 2, 2025: $2,008,143.66

8.D Personnel Report P-2025-10 06-10-24
CONTACT: ADMINISTRATIVE SERVICES

8.E SECOND READING AND ADOPTION OF ORDINANCE NO. 1882 , Adding Chapter 9.72 (Vacant Registry Program) to Title 9 (Public Peace, Morals and Welfare) of the Gardena Municipal Code relating to properties that are vacant, abandoned or in foreclosure proceedings, and find that the Ordinance is exempt from CEQA pursuant to Public Resources Code Section 21080.17.

CONTACT: COMMUNITY DEVELOPMENT

ORDINANCE NO. 1882

AN ORDINANCE OF THE CITY COUNCIL OF THE

CITY OF GARDENA, CALIFORNIA, ADDING
CHAPTER 9.72 (VACANT REGISTRY PROGRAM) TO
TITLE 9 (PUBLIC PEACE, MORALS AND WELFARE)

OF THE GARDENA MUNICIPAL CODE RELATING

TO PROPERTIES THAT ARE VACANT, ABANDONED

OR IN FORECLOSURE PROCEEDINGS

8.F SECOND READING AND ADOPTION OF ORDINANCE NO. 1883, Amending the Gardena Municipal Code Chapter 18.13 relating to Accessory Dwelling Units and Junior Accessory Dwelling Units and find that the Ordinance is exempt from CEQA pursuant to Public Resources Code Section 21080.17.

CONTACT: COMMUNITY DEVELOPMENT

4 ORDINANCE NO. 1883

AN ORDINANCE OF THE CITY COUNCIL OF THE

CITY OF GARDENA, CALIFORNIA, AMENDING
CHAPTER 18.13 OF THE GARDENA MUNICIPAL

CODE RELATING ACCESSORY DWELLING UNITS

AND JUNIOR ACCESSORY DWELLING UNITS AND

MAKING A DETERMINATION THAT THE

ORDINANCE IS EXEMPT FROM CEQA PURSUANT
TO PUBLIC RESOURCES CODE SECTION 21080.17

8.G SECOND READING AND ADOPTION OF ORDINANCE NO. 1884 , Amending the Gardena Municipal Code Chapter 18.04 (E Definitions), 18.12 (Single - Family Residential Zone (R - 1)), 18.57 (Low Barrier Navigation Centers), and 18.76 (Supportive Housing for Homeless as a Use by Right) of Title 18 (Zoning Code), and Chapt er 17.08 (Procedures and Standards) of Title 17 (Subdivisions) to implement State Laws relating to housing, and find that the Ordinance is exempt under the commonsense exemption of CEQA Guidelines section 15061(b)(3).

CONTACT: COMMUNITY DEVELOPMENT

ORDINANCE NO. 1884

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
GARDENA, CALIFORNIA, AMENDING CHAPTERS 18.04
(DEFINITIONS), 18.12 (SINGLE -FAMILY RESIDENTIAL
ZONE (R -1)), 18.57 (LOW BARRIER NAVIGATION
CENTERS), AND 18.76 (SUPPORTIVE HOUSING FOR
HOMELESS AS A USE BY RIGHT) OF TITLE 18 (ZONING),
AND CHAPTER 17.08 (PARCEL MAPS FOR URBAN LOT
SPLITS) OF TITLE 17 (SUBDIVISIONS) OF THE GARDENA

MUNICIPAL CODE TO IMPLEMENT STATE LAWS

RELATING TO HOUSING AND MAKING A

DETERMINATION THAT THE ORDINANCE IS EXEMPT

FROM CEQA PURSUANT TO CEQA GUIDELINES
SECTION15061(B)(3)

8.H Bingo License Renewal for Gardena Valley Japanese Cultural Institute, located at 1964 W. 162nd Street.

CONTACT: COMMUNITY DEVELOPMENT

8.I Approve Paratransit Service Agreement with Los Angeles County CONTACT: TRANSPORTATION

It was moved by Council Member Franci s, seconded by Council Member Henderson and carried by the following roll call vote to Approve the Consent Calendar with the exception of Item 8.E:

Ayes: Council Members Francis and Henderson, Mayor Pro Tem Tanaka, Council Member Love, and Mayor Cerda
Noes: None

Absent: None

5 9. EXCLUDED CONSENT CALENDAR

8.E COMMUNITY DEVELOPMENT: SECOND READING AND ADOPTION OF ORDINANCE NO. 1882 , Adding Chapter 9.72 (Vacant Registry Program) to Title 9 (Public Peace, Morals and Welfare) of the Gardena Municipal Code relating to properties that are vacant, abandoned or in foreclosure proceedings, and find that the Ordinance is exempt from CEQA pursuant to Public Resources Code Section 21080.17
CONTACT: COMMUNITY DEVELOPMENT – Item pulled by Council Member Love

Questions and comments were made by Council Members Love, Francis and Henderson, and Mayor Cerda. Economic Development Manager Jackie Choi , City Attorney Vasquez, and Community Development Manager Greg Tsujiuchi replied to all questions.

It was moved by Mayor Cerda, seconded by Counci l Member Henderson and carried by the following roll call vote to Approve Item 8.E:

Ayes: Mayor Cerda, Council Member Henderson, and Mayor Pro Tem Tanaka
Noes: Council Member Francis and Council Member Love

Absent: None

10. PLANNING & ENVIRONMENTAL QUALITY COMMISSION ACTION SHEET

11. ORAL COMMUNICATIONS

1) Valerie Barbour, came to submit the colors and give some ideas for the Gardena Boulevard rehabilitation.

12. DEPARTMENTAL ITEMS - ADMINISTRATIVE SERVICES

12.A Acceptance of the Government Finance Officers Association of the United States and Canada Certificate of Achievement for Excellence in Financial Reporting for the 39th Consecutive Year

City Manager Osorio presented the Staff Report.

Mayor Cerda then asked if anyone had asked to speak on this item and if the Council had any comments or questions. There were no public speakers , and no Council comments.

This Item was Received and Filed.

12.B Authorization to Lease to Purchase Five (5) 2025 Chevrolet Blazer Electric Vehicles from Enterprise Fleet Management with a Down Payment in the Amount of $310,789, and Monthly Fees Over a 60-Month Period in the Amount of $66,061 for a Total Requested Amount of $376,850

City Manager Osorio presented the Staff Report.

6 Mayor Cerda then asked if anyone had asked to speak on this item and if the Council had any comments or questions. There were no public speakers.

Questions and comments were made by Council Members Love and Francis. City Manager Osorio answered all questions.

It was moved by Council Member Francis, seconded by Council Member Love and carried by the following roll call vote to Approve Purchase:

Ayes: Council Members Francis and Love, Mayor Pro Tem Tanaka, Council Member Henderson, and Mayor Cerda
Noes: None

Absent: None

12.C Public Hearing: Annual Recruitment and Vacancy Report per Assembly Bill (AB) 2561, Government Code Section 3502.3

City Manager Osorio presented the Staff Report.

The Public Hearing was opened at 8:57 p.m.

Mayor Cerda then asked if anyone had asked to speak on this item and if the Council had any comments or questions. There were no public speakers.

Questions and comments were made by Council Members Francis and Love .

Director of Administrative Services Ray Beeman answered all questions.

The Public Hearing was closed at 9:01 p.m.

This Item was Received and Filed.

13. DEPARTMENTAL ITEMS - COMMUNITY DEVELOPMENT

13.A PUBLIC HEARING: RESOLUTION NO. 6706, Approving Conditional Use Permit #1-25 to operate an indoor batting cage within an existing 5,677 square- foot warehouse located in the Industrial (M-1) zone located at 13008 Halldale Avenue, approve counting street parking toward the facility's required parking per GMC Section 18.40.080.B.3., find the Project exempt under CEQA Guidelines Section 15301 (Class 1 - Existing Facility).

City Manager Osorio presented the Staff Report.

Planning Assistant Dayana Nava made a presentation.

Mayor Cerda opened the Public Hearing at 9:10 p.m.

Mayor Cerda then asked if anyone had asked to speak on this item and if the Council had any comments or questions. There were no public speakers.

The Applicant, Peter Girgis, also made a presentation.

7 Questions and comments were made by all members of the Council. Mr. Girgis answered all questions.

The Public Hearing was closed at 9:22 p.m.

It was moved by Council Member Love, seconded by Council Member Francis and carried by the following roll call vote to Adopt Resolution No. 670 6, approving Conditional Use Permit #1-25, Find the Project exempt under CEQA Guidelines Section 15301 (Class 1 - Existing Facility); Direct staff to file a Notice of Exemption:

Ayes: Council Members Love and Francis, Mayor Pro Tem Tanaka, Council Member Henderson and Mayor Cerda
Noes: None

Absent: None

14. DEPARTMENTAL ITEMS - ELECTED & CITY MANAGER'S OFFICES – No Items

15. DEPARTMENTAL ITEMS - POLICE

15.A Execution of Five-Year Contract with Axon Enterprise, Inc. for Police Body Worn Video in the Amount Not to Exceed $681,072.94

City Manager Osorio presented the Staff Report.

Chief Fox spoke in detail regarding the services being provided and gave praise to Axon Enterprise, Inc.

Mayor Cerda then asked if anyone had asked to speak on this item and if the Council had any comments or questions. There were no public speakers.

Questions and comments were made by Council Members Francis . Chief Fox answered all questions.

It was moved by Mayor Pro Tem Tanaka, seconded by Council Member Francis and carried by the following roll call vote to Authorize and Execute contract:

Ayes: Mayor Pro Tem Tanaka, Council Members Francis , Henderson and Love and Mayor Cerda
Noes: None

Absent: None

16. DEPARTMENTAL ITEMS - PUBLIC WORKS - No Items

17. DEPARTMENTAL ITEMS - RECREATION & HUMAN SERVICES - No Items

18. DEPARTMENTAL ITEMS - TRANSPORTATION - No Items

19. COUNCIL ITEMS - No Items

8 20. COUNCIL DIRECTIVES

Council Member Henderson

Subject: Prioritize our cybersecurity training for staff and elected officers and how frequent?

Purpose – Raise awareness and vigilance of staff and elected officers.

Reason – Proactively develop heightened awareness of phishing and spam tactics that misled and further guard against fraud and theft.

Benefit – Potentially protect our city and employees and elected officers from fraud and theft impacting our finances.

Mayor Pro Tem Tanaka seconded it.

Council Member Love

Subject: For the city to publish on the city website and on social media to inform the community as to why they are not able to reach city departments.

Purpose – To inform the community as to why they are not able to reach city departments.

Reason – The community should know what’s going on with city equipment / or any situation that affects the community.

Benefit – To keep the community informed as to why they can’t reach the city if it’s going to directly impact the community.

Council Member Francis seconded it.

21. CITY MANAGER REMARKS RE: DIRECTIVES / COUNCIL ITEMS – City Manager Osorio indicated he had no updates but wanted to wish everyone a Happy Juneteenth coming up and that our offices will be closed.

22. COUNCIL REMARKS

1) MAYOR PRO TEM TANAKA - He thanked our citizens and our Police department for helping out with all this unrest. He appreciates what our citizens are not doing. Since the last meeting, he attended the West Basin board meeting at the Carson headquarters, and they received a generous grant from them to the COG. He attended Nacho Jimenez retirement celebration, well-deserved and welcome to everyday Saturday. He attended Boys to Men workshop at the Nakaoka Community Center. He attended CAMS Key Club governor luncheon at the VFW. He went to Bring it on the Boulevard; it was a great event.

He attended the City's Healthy Pet Clinic. He attended the City's CERT Presentation by the Red Cross. He attended the Gardena Police Foundation fundraiser event at Friendly Hills, thanks to Liz Hernandez and the foundation. He expressed his condolences to the Paul Giuliano family on the loss of a loving wife, mother, grandmother, and friend, Joanna. Lastly, he attended Chief Saffell’s retirement celebration here at the city, it was a great tribute to a great chief, the number of citizens, employees, digni taries, outside law enforcement personnel, retired Gardena Police department personnel, active chiefs all from LA County, and the dedication, love, and commitment to our city it was shown that day by all those that showed up. He wished him a happy and heal thy retirement.

9 2) COUNCIL MEMBER LOVE - Since the last meeting, she attended the Western State Carpenters Union grand opening of their training facility in Carson. She attended the compost giveaway. She also attended Bring it on the Boulevard event; it was a pretty good turnout; the community was able to get free hot dogs, burgers, f rench fries, and onion rings from the Habit. It's really good to see the community come out and just have a day where they can enjoy and have fun and bring the kids. She also attended Chief's retirement celebration, it was amazing to see how many people came out to show their love for him. She had the honor of attending the 35th District Senate swearing in of Laura Richardson. She asked the community to stay prayerful, stay hopeful, and stay safe, with all that's going on in the world. We are all in uncertain times and we don't know what's going to happen today or tomorrow or by the end of the week or by the end of the month.

She indicated that she want s to encourage the community to stay faithful, stay encouraged and stay prayerful, look out for your neighbors, and look out for your family.

3) COUNCIL MEMBER FRANCIS - Since the last council meeting, she attended the 2025 Democratic Convention in Anaheim , where she represented Gardena as our elected delegate. She attended the Bring It on the Boulevard, it was a great event. She hopes to see more activities on Gardena Boulevard. She welcomed Darlene Castillo to the Beautification Commission. She congratulated Chief Todd Fox on his new position. She said Happy Juneteenth representing the official ending of slavery in the United States of America. Sh e mentioned the first amendment guarantees us the right to a peaceful protest. It says congress shall make no law abridging freedom of speech or the press or the right of people to peacefully assemble and to petition the government for red dress grievances. Hopefully even with all the craziness going on things will get better because better days are coming it's been promised.

4) MAYOR CERDA - Since the last council meeting, she attended a hearing on Zoom for our card rooms for our rotation of a player dealer position. Fortunately, she was able to speak in the beginning and testify in support of trying to keep our card room s games up and going. She then came back the second day to do it again for a hearing on blackjack style games. These are all things in support of letting the Bureau of Gambling know that we don't want our games to be adjusted and/or go away. She attended her monthly LA County Sanitation personnel meeting. She attended the retirement ceremony for Sergeant Jimenez, She congratulated him, on a job well done. She also attended the surprise get together for Mayor Pro Tem for his post-retirement promotion as Assistant Chief. She also had her monthly town hall meeting, and thanked everyone who came out. She also attended a retirement ceremony at 156th Street School for her many years of service. In fact, our Deputy City Clerk's son, who was his teacher is now grown up with a son of his own. She was happy to present a certificate from the City of Gardena. She had the opportunity to see her Youth Commissioner leave for prom, it was a lot of fun to see how they’ve grown. She attended Kiwana’s Key Club reception at the VFW, she mentioned we have two, one at Gardena High School and CAMS.. She attended the Chief's retirement ceremony, and it was a tough day for a lot of us just because we're definitely going to miss the Chief but we're happy that he is going to have a healthy retirement where every day gets to be Saturday. She attended the Tri City CERT Community Panel where she represented the City of Gardena. They mentioned how they can prepare for a future event similar to COVID. She participated in the Special Olympics law enforcement torch run. She attended the ribbon cutting ceremony for the new Metro Transit Center, which is right next to the airport, where people will be able to take the metro, and it will meet up with the new people mover which will be opening next year 10 and then that will get you to the airport. Lastly, she attended the Gardena Police Foundation golf tournament, she had a great time, and she thanked everybody who participated, those who donated to the event, and those who played in the event.

5) COUNCIL MEMBER HENDERSON - Since the last meeting, he has done some business and community visits. He attended his I CA board meeting. He attended the Boys to Men Conference;. He attended the Western States Carpenters event in Carson.

He got recognized by the California Democratic Party Veterans Caucus for his past work with the Veterans Caucus over the years. The Gardena Police Foundation golf event was a lot of fun. It was a nice mild day, then the sun came out and beat us all up. He attended Chief Saffell’s retirement. He’s excited about what Chief Fox is going to do. Chief Fox also has some innovative ideas, and different things that he is looking forward to. He thanked the Finance team for receiving the GFOA award for the 39th year. He attended Bring It on the Boulevard. He had the opportunity to be the commencement speaker for Learn for Life, and he co-headlined with the trustee of Los Angeles Community College District Board N ichelle Henderson. He went to Mayor Pro Tem’s post -retirement promotion event.

23. ANNOUNCEMENT(S)

1) Million Coaches Challenge event, Thursday, 6/12/ 2025 from 6:30 -8:30 p.m. at the Nakoaka Community Center; join us for a free workshop from Positive Coaching Alliance; 2) Mini Golf Night, Friday, 6/30/2025 6:30 p.m. to 9:00 p.m. at City Hall Lawn; 3) Recycle a Used Oil Filter and Get a New One for Free, Saturday, 6/14/2025 from 9:00 a.m. to 1:00 p.m. at AutoZone; and Saturday 6/21/2025, from 9:00 a.m. to 1:00 p.m. at O’Reilly Auto Parts;
4) Community Budget Forum, Wednesday, 6/18/2025, begins at 6:00 p.m. at the Nakaoka Community Center;
5) Juneteenth DJ Showcase, Thursday, 6/19/2025 from 5:00 p.m. to 8:00 p.m. at City Hall Lawn; and
6) Community Care Day, Saturday, 6/21/2025 from 12:00 p.m to 2:30 p.m. at the Human Services Building.

24. REMEMBRANCES

Ms. Cristina Castellucci, 95 years old, beloved aunt of our City Clerk, Mina Semenza, and long-time resident of Gardena.

Mrs. Joanna Giuliano , 81 years old, beloved mother of GEBAC Commissioner, Paul G.

Giuliano, and an integral part of the Giuliano’s Gardena Family Business.

Mr. Douglas Dixon, 83 years old and a long-time Gardena resident.

Mr. Samuel Riveros, the Baldwin Park Police Officer, who passed way tragically last week.

11 25. ADJOURNMENT

At 10:09 p.m. Mayor Cerda adjourned the Gardena City Council Meeting to the Closed Session portion of the City Council Meeting at 7:00 p.m. and the Regular City Council Meeting at 7:30 p.m. on Tuesday, June 24, 2025.

MINA SEMENZA

City Clerk of the City of Gardena and
Ex-officio Clerk of the Council
APPROVED:

______________________________ By:___________________________

Tasha Cerda, Mayor Becky Romero, Deputy City Clerk

MEMORANDUM

TO: Honorable Mayor and City Council

FROM: City Treasurer’s Office

DATE: June 18, 2025

SUBJECT: WARRANT REGISTER

PAYROLL REGISTER

June 24, 2025 TOTAL WARRANTS ISSUED: $2,915,136.08

Wire Transfer: 13010-13018
Prepay: 180931-180938
Check Numbers: 180939-181103
Checks Voided:

Total Pages of Register: 20

June 13, 2025 TOTAL PAYROLL ISSUED: $2,361,701.31

__________________________________
for Guy Mato, City Treasurer

06/18/2025
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Voucher Date Vendor Invoice PO # Description/Account Amount 13010 6/4/2025 111016 KAISER FOUNDATION HEALTH PLAN JUNE 2025 HEALTH INSURANCE 376,229.37 Total : 376,229.37
13011 6/5/2025 112441 ANTHEM BLUE CROSS LIFE &, HEALTH INSURANCE COMPANY365996002476 HEALTH INSURANCE CLAIMS 28,020.18 Total : 28,020.18
13012 5/29/2025 112326 LWP CLAIMS SOLUTIONS INC. 052925 WORKERS' COMP CLAIMS 100,000.00 Total : 100,000.00
13013 6/5/2025 112401 PINNACLE CLAIMS MANAGEMENT INC 060425 HEALTH INSURANCE CLAIMS 26,525.11 Total : 26,525.11
13014 6/9/2025 402609 BANK OF NEW YORK, THE 060525 2007 SBRPCA REVENEU BONDS SERIES A 23,912.50 Total : 23,912.50
13015 6/10/2025 112326 LWP CLAIMS SOLUTIONS INC. 061025 WORKERS' COMP CLAIMS 516.41 Total : 516.41
13016 6/12/2025 112401 PINNACLE CLAIMS MANAGEMENT INC 061125 HEALTH INSURANCE CLAIMS 97,023.93 Total : 97,023.93
13017 6/12/2025 112441 ANTHEM BLUE CROSS LIFE &, HEALTH INSURANCE COMPANY365999792293 HEALTH INSURANCE CLAIMS 45,309.30 Total : 45,309.30
13018 6/13/2025 619005 GAS COMPANY, THE 035-746-60944 060625 CNG FUEL 34,924.07 Total : 34,924.07
180931 6/9/2025 112748 NEW DYNASTY CONSTRUCTION CO. 12 REV1 024-01027 AQUATIC & SENIOR CENTER PROJECT, JN978 618,278.38 Total : 618,278.38
180932 6/9/2025 112748 NEW DYNASTY CONSTRUCTION CO. 13 024-01027 AQUATIC & SENIOR CENTER PROJECT, JN978 357,998.10 Total : 357,998.10
180933 6/10/2025 113411 AUTONATION FORD TUSTIN SKD33735 034-00693 2025 FORD F-150 VIN #1FTMF1KP1SKD33735 38,989.15 Total : 38,989.15
180934 6/17/2025 113440 GULDJIAN LAW, APC 22-11PW FINAL SETTLEMENT 36,500.00 1Page:
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Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 36,500.00 180934 6/17/2025 113440 113440 GULDJIAN LAW, APC 180935 6/17/2025 113439 DR. SUNSHINE, LLC INV76241 MEDICAL REVIEW SERVICES 2,600.00 Total : 2,600.00
180936 6/17/2025 113415 UNITED ACCESS, L.L.C. 75316 034-00698 2024 CHRYSLER PACIFICA VIN #2C4RC1FG7RR1 71,551.06 Total : 71,551.06
180937 6/17/2025 113401 CENTRAL FORD N10427 034-00697 2025 FORD TRANSIT VIN #1FBAX2C87SKA43422 69,234.62 Total : 69,234.62
180938 6/17/2025 113415 UNITED ACCESS, L.L.C. 75745 034-00698 2024 CHRYSLER PACIFICA VIN #2C4RC1FG7RR1 2,176.77 Total : 2,176.77
180939 6/24/2025 104606 2 BROTHERS TIRES & WHEELS 30900 PD VEHICLE TIRE SERVICES 20.00

24.00PD VEHICLE TIRE SERVICES30984
Total : 44.00
180940 6/24/2025 106086 ABC COMPANIES 3839422 GTRANS AUTO PARTS 2,398.55 Total : 2,398.55
180941 6/24/2025 110028 ACCENTURE INFRASTRUCTURE, AND CAPITAL PROJECTS, LLC32848 024-01108 ARTESIA BLVD. STREET IMPROVEMENT, JN 935 50,075.00 Total : 50,075.00
180942 6/24/2025 110028 ACCENTURE INFRASTRUCTURE, AND CAPITAL PROJECTS, LLC32077 037-10228 PROJECT MGMT SUPPORT - ELECTRIFICATION P 5,315.00 037-10228 23,997.50PROJECT MGMT SUPPORT - ELECTRIFICATION P32801 Total : 29,312.50
180943 6/24/2025 113329 AIR AND LUBE SYSTEMS INC. 54055 GTRANS MAINT SERVICE 612.00 Total : 612.00
180944 6/24/2025 100925 AMERICAN MOVING PARTS 01A170798 GTRANS AUTO PARTS 1,823.26 2,431.00GTRANS AUTO PARTS01A171136
528.01GTRANS AUTO PARTS01A171140

27.18GTRANS AUTO PARTS01A171141
Total : 4,809.45
180945 6/24/2025 112594 AMI GLOBAL, LLC 116115 SEWER PROGRAM SERVICE CONTRACT 720.00 2Page:
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Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 720.00 180945 6/24/2025 112594 112594 AMI GLOBAL, LLC 180946 6/24/2025 108625 ARAD OIL INC. MAY 2025 CAR WASH 72.00 Total : 72.00
180947 6/24/2025 105293 ARC DOCUMENT SOLUTIONS, LLC 12820854 REPROGRAPHIC SERVICES - LOCAL STREET 418.33 Total : 418.33
180948 6/24/2025 112640 ARELLANO ASSOCIATES, LLC 22632 037-10284 MICROTRANSIT SERVICE COMMUNITY OUTREACH 7,369.71 Total : 7,369.71
180949 6/24/2025 104687 AT&T 23554289 TELEPHONE 1,998.91 856.36TELEPHONE23561072
Total : 2,855.27
180950 6/24/2025 111170 AT&T FIRSTNET 287290885074X6102025 023-01559 PD CELL PHONE ACCT #287290885074 2,245.56 023-01559 284.51PD CELL PHONE ACCT #287295242065287295242065X061025 023-01559 2,815.54CITYWIDE CELL PHONE ACCT #287298156560287298156560X6102025 023-01559 1,901.16BUS CELL PHONE ACCT #287303490376287303490376X061025 023-01559 272.54GTRANS CELL PHONE ACCT #287324972943287324972943X061025 Total : 7,519.31
180951 6/24/2025 100964 AT&T MOBILITY 287275680401X060125 PD CELL PHONE ACCT #287275680401 147.56

86.46CM CELL PHONE ACCT #828667974828667974X06162025
Total : 234.02
180952 6/24/2025 102880 AUTOPLEX, INC. 17727 2019 FORD F-250 #AC-1 SERVICE & REPAIR 161.28 Total : 161.28
180953 6/24/2025 113420 AYERS, ZAHRAH RECEIPT #81371742 MAINTENANCE DEPOSIT REFUND 100.00 Total : 100.00
180954 6/24/2025 110686 AZTECH ELEVATOR COMPANY AZ19944 024-01098 ELEVATOR MAINTENANCE - PW 285.00 024-01098 285.00ELEVATOR MAINTENANCE - NCCAZ19945
024-01098 125.00ELEVATOR MAINTENANCE - NCCAZ19946
024-01098 125.00ELEVATOR MAINTENANCE - CHAZ19947
Total : 820.00
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Voucher Date Vendor Invoice PO # Description/Account Amount 180955 6/24/2025 102400 BAYSIDE MEDICAL CENTER 00182352 BLOOD DRAW 254.40 318.00BLOOD DRAW00183376
Total : 572.40
180956 6/24/2025 103641 BECNEL UNIFORMS 80137 BUS UNIFORM SUPPLIES 610.92 Total : 610.92
180957 6/24/2025 109377 BOB BARKER COMPANY, INC. INV2130429 JAIL PROGRAM SUPPLIES 137.35

63.65JAIL PROGRAM SUPPLIESINV2137342
Total : 201.00
180958 6/24/2025 112722 BP FORD OF LONG BEACH FOCS729776 2022 FORD INTRCPTR #1627788 SERVICE 507.72 Total : 507.72
180959 6/24/2025 113380 BREEN DESIGN GROUP, INC 11655 024-01145 ROWLEY PARK GYM RENOVATION, JN561 3,550.00 Total : 3,550.00
180960 6/24/2025 113234 C2R PRODUCTIONS LLC 2016014 037-10439 BOLT PROMOTIONAL VIDEO PRODUCTION 12,250.00 Total : 12,250.00
180961 6/24/2025 103383 CALPORTLAND 96777070 STREET MAINT SUPPLIES 1,156.73 Total : 1,156.73
180962 6/24/2025 110313 CALTIP 94-2025-MAY 037-10356 INSURANCE CLAIMS DEDUCTIBLE - MAY 2025 11,865.38 Total : 11,865.38
180963 6/24/2025 110862 CES ENVIRONMENTAL CONSULTANTS 25-118 ROWLEY PARK ASBESTOS AND LEAD SURVEY, JN 3,211.00 Total : 3,211.00
180964 6/24/2025 110605 CHANDLER ASSET MANAGEMENT 2505GARDENA 013-00033 INVESTMENT MGMT SERVICES - MAY 2025 2,698.29 Total : 2,698.29
180965 6/24/2025 104126 CHARTER COMMUNICATIONS 187854501060725 023-01555 CABLE & BACKUP INTERNET SERVICES 4,336.98 Total : 4,336.98
180966 6/24/2025 112352 CIRCLE, THE 208965 TOSHIBA 3525AC COPIER USAGE - CLERK 116.00 123.70TOSHIBA 3525AC COPIER USAGE - CM208966
340.18TOSHIBA 3525AC COPIER USAGE - HR208967
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Voucher Date Vendor Invoice PO # Description/Account Amount 180966 6/24/2025 (Continued)112352 CIRCLE, THE

95.45TOSHIBA 3525AC COPIER USAGE - ADMIN208968
178.23TOSHIBA 3525AC COPIER USAGE - CDD208969
135.27TOSHIBA 3525AC COPIER USAGE - CDD208970
616.65TOSHIBA 5525AC COPIER USAGE - DB208971

40.19TOSHIBA 908 COPIER USAGE - PRINT SHOP208972
250.83TOSHIBA 6527AC COPIER USAGE - PRINT SHOP208973

30.22TOSHIBA 3525AC COPIER USAGE - PW ADMIN208974

41.62TOSHIBA 3525AC COPIER USAGE - PW ADMIN208975
185.49TOSHIBA 3525AC COPIER USAGE - GTRANS DIS208976
310.40TOSHIBA 3525AC COPIER USAGE - NCC208977

89.95TOSHIBA 3525AC COPIER USAGE - HS208979

75.35TOSHIBA 3525AC COPIER USAGE - RECORDS208980

17.87TOSHIBA 3525AC COPIER USAGE - CHIEF208981

78.48TOSHIBA 3525AC COPIER USAGE - PD ADMIN208982
157.79TOSHIBA 3525AC COPIER USAGE - WATCH CMDR208983
135.64TOSHIBA 3525AC COPIER USAGE - SR BUREAU208984
217.53TOSHIBA 6525AC COPIER USAGE - RECORDS208985
190.98TOSHIBA 3525AC COPIER USAGE - GTRANS ADM208986

55.15TOSHIBA 3525AC COPIER USAGE - GTRANS MAI208987
Total : 3,482.97
180967 6/24/2025 102388 COPYLAND, INC. 90094 037-10362 GTRANS -16"X20", 3/16" FOAM BOARD PRINTE 1,494.22 037-10362 1,618.47GTRANS - 3.5"X8.5" "TAKE ONE" CARDS90171 037-10362 1,963.61GTRANS - 5.5"X8.5" "STATEMENT OF SCHEDUL90174 037-10362 1,165.83GTRANS - 72"X36" TROLLEY BANNERS90179 037-10362 1,874.53GTRANS - 8.5"X14" "DAILY VEHICLE INSPECT90273 Total : 8,116.66
180968 6/24/2025 109913 COSTAR REALTY INFORMATION INC. 122264713 032-00174 COSTAR SUITE - JUNE 2025 939.14 Total : 939.14
180969 6/24/2025 103512 CRENSHAW LUMBER CO. 8582 SIGNS/SIGNALS SUPPLIES 143.08 Total : 143.08
180970 6/24/2025 103353 CRM COMPANY, LLC. LA27138 SCRAP TIRE DISPOSAL FEE 69.50 5Page:
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Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 69.50 180970 6/24/2025 103353 103353 CRM COMPANY, LLC. 180971 6/24/2025 106193 CUMMINS SALES AND SERVICE X4-250558977 037-10370 GTRANS AUTO PARTS 536.52 037-10370 526.63GTRANS AUTO PARTSX4-250559115
037-10370 436.87GTRANS AUTO PARTSX4-250659457
Total : 1,500.02
180972 6/24/2025 110319 CWE DIRECTOR F25309 024-01077 CALRECYCLE USED OIL & BEVERAGE PROGRAM 1,305.05 Total : 1,305.05
180973 6/24/2025 104736 D&R OFFICE WORKS, INC. 136199 023-01589 FINANCE OFFICE FURNITURE 5,966.23 Total : 5,966.23
180974 6/24/2025 102228 DAILY BREEZE 0011735198 REQUEST FOR PROPOSAL 2024-09 283.02 290.24REQUEST FOR PROPOSAL 2024-100011737703
Total : 573.26
180975 6/24/2025 113430 DEJESUS, MARIA UNIFORM UNIFORM ALLOWANCE 350.00 Total : 350.00
180976 6/24/2025 312117 DEPARTMENT OF WATER & POWER 053025 LIGHT & POWER 83.19 Total : 83.19
180977 6/24/2025 312187 DEPARTMENT OF WATER & POWER GA210561 CABLE & POWER ATTACHMENT FEE - JAN-DEC 518.14 Total : 518.14
180978 6/24/2025 110534 EL DORADO NATIONAL 90877939 GTRANS BUS VEHICLE SUPPLIES 4,221.28 1,577.15GTRANS BUS VEHICLE SUPPLIES90880239
353.38GTRANS BUS VEHICLE SUPPLIES90880600
Total : 6,151.81
180979 6/24/2025 105418 EMPIRE CLEANING SUPPLY S7089871 034-00666 CUSTODIAL SUPPLIES 2,798.49 Total : 2,798.49
180980 6/24/2025 106459 ENTERPRISE FM TRUST FBN5344143 023-01567 ENTERPRISE LEASE - JUNE 2025 - PD 8,264.23 023-01567 11,139.74ENTERPRISE LEASE - JUNE 2025FBN5351294 023-01572
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Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 19,403.97 180980 6/24/2025 106459 106459 ENTERPRISE FM TRUST 180981 6/24/2025 113310 ERICKSON, GULLIVER JESUS 0124 PW SAFETY TRAINING 1,800.00 Total : 1,800.00
180982 6/24/2025 105650 EWING IRRIGATION PRODUCTS 26138179 PARK MAINT SUPPLIES 264.60 720.10PARK MAINT SUPPLIES26273327
1,038.12PARK MAINT SUPPLIES26412147
346.69PARK MAINT SUPPLIES26412166
Total : 2,369.51
180983 6/24/2025 113399 FASHION INTERIORS 3990054-PROGRESS 034-00692 NCC AUDITORIUM SUPPLIES 14,688.00 Total : 14,688.00
180984 6/24/2025 113399 FASHION INTERIORS 3990054-FINAL 034-00692 NCC AUDITORIUM SUPPLIES 3,672.00 Total : 3,672.00
180985 6/24/2025 106129 FEDEX 8-834-77908 SHIPPING SERVICES 39.20 149.43SHIPPING SERVICES8-841-70116
Total : 188.63
180986 6/24/2025 111415 FILTERBUY, INC BAFEC8C7-0037 GTRANS AUTO PARTS 150.28 Total : 150.28
180987 6/24/2025 106465 FOX FIRST AID & SAFETY INC 75404 STREET MAINT SUPPLIES 13.26 265.20PARK MAINT SUPPLIES75471
Total : 278.46
180988 6/24/2025 112566 GALLS, LLC 031461987 PD UNIFORM SUPPLIES 927.46 1,093.13PD UNIFORM SUPPLIES031538783
Total : 2,020.59
180989 6/24/2025 113413 GARCIA, YESENIA RECEIPT #87012212 VOLUNTEEN CAMP DEPOSIT REFUND 50.00 Total : 50.00
180990 6/24/2025 107011 GARDENA VALLEY NEWS 00152981 NOTICE OF PUBLIC HEARING - RESOLUTION 315.00

91.00SUMMARY OF ORDINANCE NO. 188100153199
115.00REQUEST FOR PROPOSAL 2024-1000153459
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Voucher Date Vendor Invoice PO # Description/Account Amount 180990 6/24/2025 (Continued)107011 GARDENA VALLEY NEWS 115.50SUMMARY OF ORDINANCE NO. 188100153581
126.00SUMMARY OF ORDINANCE NO. 188200153600
122.50SUMMARY OF ORDINANCE NO. 188300153601
140.00SUMMARY OF ORDINANCE NO. 188400153602
Total : 1,025.00
180991 6/24/2025 619005 GAS COMPANY, THE 058-854-91703 060625 CNG FUEL 1,093.07 703.92GAS060225.

Total : 1,796.99
180992 6/24/2025 113435 GILBERTSON, AMOS UNIFORM UNIFORM ALLOWANCE 350.00 Total : 350.00
180993 6/24/2025 112692 GOCANVAS INV00197291 MONTHLY SUBSCRIPTION - MAY 2025 1,650.00 Total : 1,650.00
180994 6/24/2025 619004 GOLDEN STATE WATER CO. 060425 WATER 13,930.70 Total : 13,930.70
180995 6/24/2025 112872 GOODYEAR TIRE & RUBBER CO. 9854772059 037-10415 GTRANS' BUS TIRE LEASE SERVICES - APRIL 1,075.00 037-10415 1,075.00GTRANS' BUS TIRE LEASE SERVICES - FEBRU9854772060 037-10415 1,075.00GTRANS' BUS TIRE LEASE SERVICES - JANUAR9854772061 037-10415 1,075.00GTRANS' BUS TIRE LEASE SERVICES - DECEMB9854772062 037-10415 1,075.00GTRANS' BUS TIRE LEASE SERVICES - MARCH9854772063 Total : 5,375.00
180996 6/24/2025 107513 GRAINGER 9518029914 GTRANS MAINT SUPPLIES 68.65 205.93GTRANS MAINT SUPPLIES9518202768
037-10372 331.44GTRANS FACILITY SUPPLIES9521859174
282.07GTRANS MAINT SUPPLIES9521859190
037-10372 126.92GTRANS FACILITY SUPPLIES9522662627
037-10372 28.57GTRANS FACILITY SUPPLIES9527936513
037-10372 99.52GTRANS FACILITY SUPPLIES9532637437
Total : 1,143.10
180997 6/24/2025 112374 GRIFFIN STRUCTURES, INC. GSI-GCASC-29 024-00910 AQUATIC & SENIOR CENTER, JN978 43,702.11 8Page:
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Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 43,702.11 180997 6/24/2025 112374 112374 GRIFFIN STRUCTURES, INC. 180998 6/24/2025 112076 HERNANDEZ, ROSA 011 06/11/25 INTERN SERVICES - 05/29-06/11/25 1,344.00 Total : 1,344.00
180999 6/24/2025 110371 HINDERLITER DE LLAMAS, & ASSOCIATES SIN050870 CONTRACT SERVICES - TRANSACTION TAX 300.00 Total : 300.00
181000 6/24/2025 108434 HOME DEPOT CREDIT SERVICES 0321236 GTRANS MAINT SUPPLIES 610.09

13.86PD PROGRAM SUPPLIES1180921
109.84BLDG MAINT SUPPLIES1331717

96.01PARK MAINT SUPPLIES1351775

58.02GTRANS FACILITIES SUPPLIES1530900

25.38PD PROGRAM SUPPLIES1904203

73.78BLDG MAINT SUPPLIES2331478
116.01FINANCE OFFICE SUPPLIES2484184
150.97GTRANS MAINT SUPPLIES2515085

85.34GTRANS FACILITIES SUPPLIES2541541
158.20SIGNS/SIGNALS SUPPLIES6511430
407.75GTRANS FACILITIES SUPPLIES6909290

25.34GTRANS FACILITIES SUPPLIES7901463

39.35BLDG MAINT SUPPLIES8331795

19.67PARK MAINT SUPPLIES8521317

21.48PD PROGRAM SUPPLIES8602291
1,034.84SIGNS/SIGNALS SUPPLIES8803210

14.73PARK MAINT SUPPLIES9343503

16.35PARK MAINT SUPPLIES9522913
137.18GTRANS FACILITIES SUPPLIES9526219
Total : 3,214.19
181001 6/24/2025 113276 HYDRAULIC ELECTRIC COMPONENT, SUPPLY, INC.0153522 GTRANS AUTO PARTS 294.61 877.14GTRANS AUTO PARTS0153551
Total : 1,171.75
181002 6/24/2025 113426 IBARRA, HAILEY UNIFORM UNIFORM ALLOWANCE 350.00 Total : 350.00
181003 6/24/2025 113431 INANA, RYAN UNIFORM UNIFORM ALLOWANCE 350.00 9Page:
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CITY OF GARDENA
10 9:51:10AM
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Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 350.00 181003 6/24/2025 113431 113431 INANA, RYAN 181004 6/24/2025 110222 INTERAMERICAN MOTOR, LLC 065-808378 GTRANS AUTO PARTS 487.98

33.08GTRANS AUTO PARTS101-376331
Total : 521.06
181005 6/24/2025 111593 INTER-CON SECURITY SYSTEMS INC BD0515861 037-10420 GTRANS SECURITY SERVICES - MAY 2025 7,400.32 313.32REC SECURITY SERVICES - MAY 2025BD0515864

30.74GTRANS SECURITY SERVICES - MAY 2025BD0515897
Total : 7,744.38
181006 6/24/2025 110733 J & S PROPERTY MANAGEMENT AND, MAINTENANCE, INC9217 LANDSCAPE MAINTENANCE SERVICE 2,089.65 Total : 2,089.65
181007 6/24/2025 113424 JACHE, DIETRICH UNIFORM UNIFORM ALLOWANCE 350.00 Total : 350.00
181008 6/24/2025 107642 JAPANESE AUTOMOTIVE CENTER, INC. 0329368 2006 CHEVY SILVERADO #1261054 OIL & 93.44 Total : 93.44
181009 6/24/2025 110853 JONES MAYER 128982 ATTORNEY SERVICES 5,160.62 593.83ATTORNEY SERVICES128986
Total : 5,754.45
181010 6/24/2025 211429 KEMP, TAMARA MAY 2025 DANCE INSTRUCTOR 1,572.50 Total : 1,572.50
181011 6/24/2025 112812 KIMBALL MIDWEST 103409183 GTRANS SHOP SUPPLIES 56.91 380.78GTRANS SHOP SUPPLIES103416907
Total : 437.69
181012 6/24/2025 105900 KONECRANES, INC. 155189929 037-10391 PREVENTATIVE MAINT & INSPECTION OF CRANE 525.00 Total : 525.00
181013 6/24/2025 110848 KREUZER CONSULTING GROUP 25-047R 024-01134 CONSULTANT SERVICES - LOCAL STREET IMPRO 32,381.50 Total : 32,381.50
181014 6/24/2025 112924 KTUA 37284 034-00669 VACANT & UNDERUTILIZED LOT INVENTORY PRO 675.64 10Page:
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CITY OF GARDENA
11 9:51:10AM
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Bank code : usb
Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 675.64 181014 6/24/2025 112924 112924 KTUA 181015 6/24/2025 112145 L.A. COUNTY FIRE DEPARTMENT IN0470235 LACO/CUPA #AR0044792 - CERS LATE 524.00 Total : 524.00
181016 6/24/2025 104203 L.A. PAINT & BODY WORKS 28468 BUS REPAIR FOR BUS #2311 1,610.70 2,495.43BUS REPAIR FOR BUS #230628861
3,094.14BUS REPAIR FOR BUS #200829566
Total : 7,200.27
181017 6/24/2025 109939 LA UNIFORMS & TAILORING 25597 PD UNIFORM SUPPLIES 618.94 618.94PD UNIFORM SUPPLIES25676
635.65PD UNIFORM SUPPLIES25968
711.66PD UNIFORM SUPPLIES25988
392.27PD UNIFORM SUPPLIES26051
Total : 2,977.46
181018 6/24/2025 105135 LAEDC 490 032-00220 ANNUAL MEMBERSHIP DUES 5,000.00 Total : 5,000.00
181019 6/24/2025 112614 LAX AUTO REPAIR 20500 2024 DODGE DURANGO #1697554 OIL & 70.00

70.002022 FORD INTRCPTR #1630457 OIL &20506

70.002004 FORD F-350 #1105666 OIL & FILTER20516
Total : 210.00
181020 6/24/2025 112308 LOS ANGELES HOMPA HONGWANJI, BUDDHIST TEMPLE010325 ENTERTAINMENT SERVICES - CANDLELIGHT 350.00 Total : 350.00
181021 6/24/2025 105279 LOS ANGELES TRUCK CENTERS LLC RA220040985 2019 FREIGHTLINER UNIT #79 REPAIRS 1,465.18 836.79STREET SWEEPER SUPPLIESXA220650027
Total : 2,301.97
181022 6/24/2025 112602 LUBRICATION ENGINEERS, INC. IN554684 AUTOMOTIVE LUBRICANT & FLUIDS 4,954.24 Total : 4,954.24
181023 6/24/2025 109563 LUCKY LADY CASINO 0850000277 ECONOMIC ASSISTANCE - MAY 2025 45,169.92 Total : 45,169.92
11Page:
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CITY OF GARDENA
12 9:51:10AM
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Bank code : usb
Voucher Date Vendor Invoice PO # Description/Account Amount 181024 6/24/2025 113301 M & K METAL CO. 398570 BUS MAINT SUPPLIES 59.58 Total : 59.58
181025 6/24/2025 105082 MAJESTIC LIGHTING, INC. ML90642 BLDG MAINT SUPPLIES 331.47 920.47BLDG MAINT SUPPLIESML90672
Total : 1,251.94
181026 6/24/2025 113416 MARIA MATIAS MUSIC, INC. 061325 034-00694 ENTERTAINMENT SERVICES - JAZZ FESTIVAL 10,500.00 Total : 10,500.00
181027 6/24/2025 110306 MARIPOSA LANDSCAPES, INC 3992 024-01094 TREE TRIMMING MAINTENANCE SERVICE 40,307.96 Total : 40,307.96
181028 6/24/2025 113046 MARX BROS. FIRE EXTINGUISHER, CO., INC. E54847 FIRE EXTINGUISHER SERVICE - CITY HALL 685.00 1,500.00FIRE EXTINGUISHER SERVICE - GTRANSP31840
Total : 2,185.00
181029 6/24/2025 113064 MCMASTER-CARR SUPPLY COMPANY 45958549 GTRANS SHOP SUPPLIES 5,250.73

84.36GTRANS SHOP SUPPLIES46199445

66.10GTRANS FACILITIES SUPPLIES46384088
Total : 5,401.19
181030 6/24/2025 113299 MERRIMAC ENERGY GROUP 2239234 037-10363 87 OCTANE REGULAR UNLEADED FUEL 33,440.49 Total : 33,440.49
181031 6/24/2025 113299 MERRIMAC ENERGY GROUP 2239265 037-10363 87 OCTANE REGULAR UNLEADED FUEL 32,376.52 Total : 32,376.52
181032 6/24/2025 112058 MOBILE CAR & TRUCK WASH JBT 2753 40' BUS INTERIOR DETAILING 1,032.50 Total : 1,032.50
181033 6/24/2025 113407 MOEV INC. MOEV-GTRANS-1 037-10445 DISPATCH SYSTEM & CONSULTING SERVICES 23,400.00 Total : 23,400.00
181034 6/24/2025 113433 MONTELONGO, ELIANA UNIFORM UNIFORM ALLOWANCE 350.00 Total : 350.00
181035 6/24/2025 107505 MOUSER ELECTRONICS, INC. 84876697 GTRANS AUTO SUPPLIES 393.83 12Page:
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CITY OF GARDENA
13 9:51:10AM
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Bank code : usb
Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 393.83 181035 6/24/2025 107505 107505 MOUSER ELECTRONICS, INC. 181036 6/24/2025 106803 MSDSONLINE, INC. 331567 ANNUAL MSDS ONLINE SUBSCRIPTION - HQ 3,074.30 Total : 3,074.30
181037 6/24/2025 113605 MUTUAL LIQUID GAS & EQUIPMENT, CO., INC.811749 PROPANE GAS 363.58 Total : 363.58
181038 6/24/2025 105622 N/S CORPORATION 0127732 037-10396 GTRANS BUS WASH EQUIPMENT MAINTENANCE 674.00 Total : 674.00
181039 6/24/2025 110909 NEXTECH SYSTEMS, INC NEX25-272 SIGNS/SIGNAL SUPPLIES 4,794.58 Total : 4,794.58
181040 6/24/2025 110960 NINJAONE, LLC INV88284282 023-01599 NINJA + SPLASHTOP RENEWAL 11,400.00 Total : 11,400.00
181041 6/24/2025 111785 NOBEL SYSTEMS, INC 16155 024-01148 GEOVIEWER (GIS) HOSTING SERVICES 31,900.00 Total : 31,900.00
181042 6/24/2025 110575 OCCUPATIONAL HEALTH CENTERS, OF CALIFORNIA, A MEDICAL86946517 RANDOM TESTS 1,578.00 224.00RANDOM TESTS86947086
Total : 1,802.00
181043 6/24/2025 115168 OFFICE DEPOT 424962302 PD OFFICE SUPPLIES 133.86 460.32PD OFFICE SUPPLIES425853149

24.70PD OFFICE SUPPLIES425857276
148.44HR OFFICE SUPPLIES426059351

39.77HR OFFICE SUPPLIES426066736
418.51BUS OFFICE SUPPLIES426955827
169.27FINANCE OFFICE SUPPLIES426982971
152.54HR OFFICE SUPPLIES427926049
Total : 1,547.41
181044 6/24/2025 111358 O'REILLY AUTO PARTS 153097 GTRANS AUTO PARTS 250.69 -22.00GTRANS AUTO PARTS154323
149.59STREET SWEEPER SUPPLIES154564
152.36GTRANS AUTO PARTS154879
13Page:
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CITY OF GARDENA
14 9:51:10AM
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Bank code : usb
Voucher Date Vendor Invoice PO # Description/Account Amount 181044 6/24/2025 (Continued)111358 O'REILLY AUTO PARTS 208.37PW AUTO PARTS158419
Total : 739.01
181045 6/24/2025 115810 ORKIN PEST CONTROL 279322709 PEST CONTROL - ACCT #27336703 347.00 Total : 347.00
181046 6/24/2025 103673 PACIFIC PRODUCTS & SERVICE, LLC 35975 SIGNS/SIGNALS SUPPLIES 115.03 Total : 115.03
181047 6/24/2025 113421 PAEZ, MANUEL UNIFORM UNIFORM ALLOWANCE 350.00 Total : 350.00
181048 6/24/2025 116004 PARKHOUSE TIRE, INC. 1011035052 TIRE DISPOSAL FEE 1,196.00 Total : 1,196.00
181049 6/24/2025 112173 PEREZ, NATHALIE 06/01-06/04 PRIMA 2025 ANNUAL CONFERENCE 150.00 Total : 150.00
181050 6/24/2025 112189 PERFECT SCORE ATHLETIC, TRAINING CENTER05/07-05/28/25 GYMNASTICS INSTRUCTOR SERVICES 3,145.00 Total : 3,145.00
181051 6/24/2025 112859 PET HAVEN CEMETERY 19250 032-00213 PROFESSIONAL CREMATORY SERVICES 1,205.00 032-00213 1,165.00PROFESSIONAL CREMATORY SERVICES19304 Total : 2,370.00
181052 6/24/2025 116140 PETE'S ROAD SERVICE, INC. 843185 UNIT #59 VEHICLE REPAIRS 1,540.52 291.93SERVICE CALL - STREET SWEEPER #79844631
Total : 1,832.45
181053 6/24/2025 113422 PETRELLI, ANTHONY UNIFORM UNIFORM ALLOWANCE 350.00 Total : 350.00
181054 6/24/2025 108628 PETROLEUM MARKETING EQUIPMENT 3262322 BUS FACILITY SUPPLIES 228.73 Total : 228.73
181055 6/24/2025 112401 PINNACLE CLAIMS MANAGEMENT INC 30604202503241 CONSIDINE CLAIMS REVIEW 500.00 14Page:
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CITY OF GARDENA
15 9:51:10AM
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Bank code : usb
Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 500.00 181055 6/24/2025 112401 112401 PINNACLE CLAIMS MANAGEMENT INC 181056 6/24/2025 111883 PROJECT PARTNERS, INC. 12676 024-01112 PROJECT MANAGEMENT SERVICES 15,260.00 Total : 15,260.00
181057 6/24/2025 106092 PRUDENTIAL OVERALL SUPPLY 43032638 034-00667 CUSTODIAL SUPPLIES 2,856.56 024-01082 167.20UNIFORM & SUPPLY RENTAL43032639
034-00667
034-00667 31.49UNIFORM & SUPPLY RENTAL43032640
034-00667 50.10SUPPLY RENTAL - MATS - GTRANS43032641
034-00667 1,169.45CUSTODIAL SUPPLIES43034177
024-01082 167.20UNIFORM & SUPPLY RENTAL43034178
034-00667
034-00667 33.20UNIFORM & SUPPLY RENTAL43034179
034-00667 50.10SUPPLY RENTAL - MATS - GTRANS43034180
034-00667 13.65SUPPLY RENTAL - MATS - NCC43034181
034-00667 19.00SUPPLY RENTAL - MATS - CH43034182
034-00667 91.60SUPPLY RENTAL - MATS - PD43034183
034-00667 11.60SUPPLY RENTAL - MATS - HS43034184
037-10365 313.48UNIFORM & SUPPLY RENTAL43035682
Total : 4,974.63
181058 6/24/2025 112508 PUMPMAN SOCAL 130001037 SEWER PUMP MAINTENANCE 4,968.00 350.00SEWER PUMP MAINTENANCE803418
Total : 5,318.00
181059 6/24/2025 104868 PYRO-COMM SYSTEMS, INC. 10033495 037-10250 FIRE ALARM TESTING - BLDG B 600.00 037-10405 225.00FIRE ALARM MONITORING - BLDG B10041207 037-10405 195.00SECURITY ALARM MONITORING - BLDG A10041210 037-10405 225.00FIRE ALARM MONITORING - BLDG A10041343 037-10405 225.00FIRE ALARM MONITORING - BLDG C10041344 1,824.47SERVICE CALL - ADMIN BLDG A10042307
Total : 3,294.47
181060 6/24/2025 112788 R&S AUTO BODY REPAIR 2778 GTRANS VEHICLE PARTS & LABOR 2,100.00 Total : 2,100.00
181061 6/24/2025 113423 RAMIREZ, GICELLE UNIFORM UNIFORM ALLOWANCE 350.00 15Page:
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CITY OF GARDENA
16 9:51:10AM
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Bank code : usb
Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 350.00 181061 6/24/2025 113423 113423 RAMIREZ, GICELLE 181062 6/24/2025 110734 RED KITE CONSULTING, INC 0173147 037-10353 GTRANS CONSULTING FOR TRAINING SERVICES 33,654.00 Total : 33,654.00
181063 6/24/2025 108886 REDMON GROUP INC. RG2022455 037-10418 GTRANS WEBSITE SUPPORT 2,825.00 Total : 2,825.00
181064 6/24/2025 118142 REFRIGERATION SUPPLIES, DISTRIBUTOR 48537451 BLDG MAINT SUPPLIES 55.22 121.65BLDG MAINT SUPPLIES48537592
Total : 176.87
181065 6/24/2025 109619 RENTINO, JOBEL 039 037-10375 PROCUREMENT CONSULTING SERVICES 1,840.00 Total : 1,840.00
181066 6/24/2025 100836 RESOURCE BUILDING MATERIALS 4016357 STREET MAINT SUPPLIES 128.82 354.01STREET MAINT SUPPLIES4018665

92.71STREET MAINT SUPPLIES4021163
Total : 575.54
181067 6/24/2025 112578 RIDECO US INC 2025-310US 037-10254 MICROTRANSIT SOFTWARE 1,467.19 Total : 1,467.19
181068 6/24/2025 118536 RIO HONDO COLLEGE S25-197-ZGDA TUITION - 2025 SPRING ACADEMY 2,218.00 Total : 2,218.00
181069 6/24/2025 109323 RIVERAS LAWNMOWER SHOP, INC. 8716 PARK MAINT SUPPLIES 425.00 Total : 425.00
181070 6/24/2025 113432 RODRIGUEZ, JOSHUA UNIFORM UNIFORM ALLOWANCE 350.00 Total : 350.00
181071 6/24/2025 119022 SAFE MART OF SOUTHERN, CALIFORNIA, INC.1732 PD PROGRAM SUPPLIES 6.62

9.95GTRANS MAINT SUPPLIES1899
505.74SIGNS/SIGNALS SUPPLIES1902

22.50BLDG MAINT SUPPLIES1903

17.68STREET SWEEPER SUPPLIES1907

23.21GTRANS MAINT SUPPLIES1914
16Page:
06/18/2025
Voucher List

CITY OF GARDENA
17 9:51:10AM
Page:vchlist
Bank code : usb
Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 585.70 181071 6/24/2025 119022 119022 SAFE MART OF SOUTHERN, CALIFORNIA, INC. 181072 6/24/2025 119015 SAFETY-KLEEN CORPORATION 96860039 037-10376 SERVICE AQUEOUS PARTS WASHER 1,265.41 Total : 1,265.41
181073 6/24/2025 108654 SECTRAN SECURITY INC. 25060904 ARMORED TRANSPORTATION SERVICES - JUNE 2 291.13 Total : 291.13
181074 6/24/2025 109918 SHIGE'S FOREIGN CAR SERVICE, INC. 8101706 035-01364 2007 CHEVY TAHOE #1327044 SERVICE & REPA 1,038.73 Total : 1,038.73
181075 6/24/2025 119378 SMARDAN SUPPLY CO. S4239935 BLDG MAINT SUPPLIES 390.76 Total : 390.76
181076 6/24/2025 112510 SO CAL MOBILE MAINTENANCE, INC 22093 CNG INSPECTION SERVICES 400.00 Total : 400.00
181077 6/24/2025 119447 SOUTH BAY FORD 542520 GTRANS AUTO PARTS 103.65 181.84GTRANS AUTO PARTS543023
Total : 285.49
181078 6/24/2025 619003 SOUTHERN CALIFORNIA EDISON 053025 LIGHT & POWER 83,313.11 Total : 83,313.11
181079 6/24/2025 109067 SPEAKWRITE 6f7be4e5 TRANSCRIPTION SERVICES - MAY 2025 192.15 Total : 192.15
181080 6/24/2025 119010 STAPLES ADVANTAGE 6032493331 SR BUREAU OFFICE SUPPLIES 488.63

3.54PW OFFICE SUPPLIES6034349052
208.59PW OFFICE SUPPLIES6034349054
Total : 700.76
181081 6/24/2025 104106 SWARCO MCCAIN, INC. INV0287268 024-01093 SIGNS/SIGNALS SUPPLIES 5,397.93 Total : 5,397.93
181082 6/24/2025 100609 TANK SPECIALISTS OF CALIFORNIA 35030 CERTIFIED DESIGNATED OPERATOR SERVICE 198.00 Total : 198.00
17Page:
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Voucher List

CITY OF GARDENA
18 9:51:10AM
Page:vchlist
Bank code : usb
Voucher Date Vendor Invoice PO # Description/Account Amount 181083 6/24/2025 113418 TATE TALENT AND EVENTS, INC 061325 034-00695 ENTERTAINMENT SERVICES - JAZZ FESTIVAL 3,150.00 Total : 3,150.00
181084 6/24/2025 113357 TEAM CIVX 3878 023-01593 COMMUNICATION & PROJECT MGMT SERVICES 5,460.00 Total : 5,460.00
181085 6/24/2025 113297 TECHNICAL MASTERY SOCCER 05/03-05/28/25 SOCCER INSTRUCTOR 765.00 Total : 765.00
181086 6/24/2025 113429 TINOCO, DENICE UNIFORM UNIFORM ALLOWANCE 350.00 Total : 350.00
181087 6/24/2025 111990 TOWNSEND PUBLIC AFFAIRS, INC 23528 023-01590 CONSULTING SERVICES - JUNE 2025 7,000.00 Total : 7,000.00
181088 6/24/2025 106018 TRANE U.S. INC. 19209426 037-10366 BUS FACILITY SERVICE MAINTENANCE 2,164.76 Total : 2,164.76
181089 6/24/2025 110818 TRANSIT AND PARATRANSIT CO, THE T-4315 BUS OPERATOR TRAINING MATERIALS 1,200.00 Total : 1,200.00
181090 6/24/2025 111481 TRIO COMMUNITY MEALS, LLC INV2230065043 034-00659 SENIOR FEEDING PROGRAM 6,163.08 Total : 6,163.08
181091 6/24/2025 109900 U.S. BANK CORPORATE PAYMENT, SYSTEMSNOLAN 05/22/25 CAL CARD STATEMENT 04/23-05/22/25 5,491.55 2,651.53CAL CARD STATEMENT 03/25-04/22/25PD TRAINING 04/22/25 4,161.29CAL CARD STATEMENT 03/25-04/22/25PD TRAINING2 4/22/25 4,794.46CAL CARD STATEMENT 03/25-04/22/25PD TRAINING3 4/22/25 2,255.82CAL CARD STATEMENT 03/25-04/22/25PD TRAINING4 4/22/25 3,399.52CAL CARD STATEMENT 03/25-04/22/25PD TRAINING4 42225 1,583.31CAL CARD STATEMENT 04/23-05/22/25PYNN 05/22/25
1,173.39CAL CARD STATEMENT 04/23-05/22/25ROMERO 05/22/25 2,786.13CAL CARD STATEMENT 04/23-05/22/25SANTOS 05/22/25 Total : 28,297.00
181092 6/24/2025 104692 ULINE 193105678 PW PROGRAM SUPPLIES 318.67 1,076.76REC PROGRAM SUPPLIES193396936
18Page:
06/18/2025
Voucher List

CITY OF GARDENA
19 9:51:10AM
Page:vchlist
Bank code : usb
Voucher Date Vendor Invoice PO # Description/Account Amount (Continued) Total : 1,395.43 181092 6/24/2025 104692 104692 ULINE 181093 6/24/2025 121275 UNDERGROUND SERVICE ALERT, OF SC 24-253903 STATE REGULATORY COSTS - BILLABLE 67.81 252.35NEW TICKETS520250304
Total : 320.16
181094 6/24/2025 107596 UNION PACIFIC RAILROAD COMPANY 90146118 024-01008 ENGINEERING SERVICES - ARTESIA BLVD/PE, 2,035.66 Total : 2,035.66
181095 6/24/2025 121010 UNITED RENTALS 244388581-003 037-10432 RENTAL EQUIPMENT FOR TERMITE FUMIGATION 2,137.75 037-10432 2,001.92RENTAL EQUIPMENT FOR TERMITE FUMIGATION244388581-004 037-10432 1,109.63RENTAL EQUIPMENT FOR TERMITE FUMIGATION244388581-005 Total : 5,249.30
181096 6/24/2025 106754 URBAN RESTORATION GROUP US, INC. 00048160 STREET MAINT SUPPLIES 247.53 Total : 247.53
181097 6/24/2025 122435 VISTA PAINT CORPORATION 2025-924705-00 STREET MAINT SUPPLIES 99.45 106.11STREET MAINT SUPPLIES2025-953424-00

99.45STREET MAINT SUPPLIES2025-957059-00
Total : 305.01
181098 6/24/2025 108353 WALTERS WHOLESALE ELECTRIC CO S128022816 SIGNS/SIGNALS SUPPLIES 3,251.71 Total : 3,251.71
181099 6/24/2025 101903 WATER TECHNIQUES 16264 DRINKING WATER SYSTEM RENTAL 45.00 Total : 45.00
181100 6/24/2025 104107 WAXIE SANITARY SUPPLY 83271286 BUS WASH SUPPLIES 328.19 Total : 328.19
181101 6/24/2025 110370 WESTERN COLLISION CENTER, INC 1140 035-01365 SWAT VEHICLE BODY REPAIRS 2,500.00 035-01365 2,181.302024 FORD INTRCPTR #EB30A71 BODY REPAIRS1145 035-01365 1,521.782015 TOYOTA SIENNA #9MMP574 BODY REPAIRS1146 035-01365 2,472.962024 DODGE DURANGO #1697549 BODY REPAIRS1147 Total : 8,676.04
181102 6/24/2025 125001 YAMADA COMPANY, INC. 85015 PARK MAINT SUPPLIES 667.12 19Page:
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Voucher List

CITY OF GARDENA
20 9:51:10AM
Page:vchlist
Bank code : usb
Voucher Date Vendor Invoice PO # Description/Account Amount 181102 6/24/2025 (Continued)125001 YAMADA COMPANY, INC.

53.72PARK MAINT SUPPLIES85039
Total : 720.84
181103 6/24/2025 113347 ZECO, INC. 01 024-01140 ROWLEY PARK BASKETBALL COURT REHAB, JN53 100,119.62 Total : 100,119.62
Bank total : 2,915,136.08 182 Vouchers for bank code : usb 2,915,136.08Total vouchers :Vouchers in this report 182 20Page:
06/18/2025
Voucher List

CITY OF GARDENA
21 9:51:10AM
Page:vchlist
Bank code : usb
Voucher Date Vendor Invoice PO # Description/Account Amount

CLAIMS VOUCHER APPROVAL
I hereby certify that the demands or claims covered by the checks listed on pages _____ to _____ inclusive of the check register are accurate and funds are available for payment thereof.

By: __________________________________________
Director of
Administrative Services
This is to certify that the claims or demands covered by checks listed on pages _____ to _____ inclusive of the check register have been audited by the City Council of the City of Gardena and that all of the said checks are approved for payment except check numbers:
______________________________________________________
_________________________ __________
Mayor Date
_________________________ __________

Councilmember Date
_________________________ __________

Councilmember Date
Acknowledged:
_________________________ __________
Councilmember Date
_________________________ __________

Councilmember Date
21Page:
1 20
06/24/2025
1 20

CITY OF GARDENA

INVESTMENT REPORT
May 2025
Prepared by Danny Rodriguez, Revenue and Purchasing Manager Reviewed by Ray Beeman, Director of Administrative Services

MONTHLY ACCOUNT STATEMENT
City of Gardena Cons | Account #10647 | As of May 31, 2025 CHANDLER ASSET MANAGEMENT | chandlerasset.com
Information contained herein is confidential. 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:

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Account Summary
Maturity Distribution
Top Issuers
Credit Quality (S&P)
Average Modified Duration 0.58
Average Coupon 4.16%
Average Purchase YTM 4.27%
Average Market YTM 4.30%
Average Credit Quality* AAA
Average Final Maturity 0.69
Average Life 0.60
End Values as of
04/30/2025
End Values as of
05/31/2025
Market Value 104,906,912.90 105,113,971.67
Accrued Interest 272,301.00 261,972.71
Total Market Value 105,179,213.90 105,375,944.38
Income Earned 406,815.00 346,723.69
Cont/WD 0.00 0.00
Par 98,462,616.61 98,819,445.46
Book Value 104,789,466.62 105,173,192.60
Cost Value 104,660,384.52 105,040,770.14
California Asset Mgmt Program 55.36%
Government of The United States 13.14%
CalTrust 6.81%
LAIF 5.48%
FHLMC 3.08%
Farm Credit System 1.38%
Federal Home Loan Banks 1.25%
International Bank for Recon and Dev 1.12%
*The average credit quality is a weighted average calculation of the highest of S&P , Moody’s and Fitch.

RECONCILIATION SUMMARY
Accrual Activity Summary
Fair Market Activity Summary
Month to Date Fiscal Year to Date
(01/01/2025)
Beginning Book Value 104,789,466.62 83,441,152.90
Maturities/Calls (365,000.00) (3,950,000.00)
Principal Paydowns (299,769.76) (707,414.06)
Purchases 1,199,073.21 29,441,792.06
Sales (656,860.70) (3,454,051.63)
Change in Cash, Payables, Receivables 496,662.26 348,752.14 Amortization/Accretion 9,620.96 52,961.19
Realized Gain (Loss) 0.01 (0.01)
Ending Book Value 105,173,192.60 105,173,192.60
Month to Date Fiscal Year to Date
(01/01/2025)
Beginning Market Value 104,906,912.90 83,091,500.34
Maturities/Calls (365,000.00) (3,950,000.00)
Principal Paydowns (299,769.76) (707,414.06)
Purchases 1,199,073.21 29,441,792.06
Sales (656,860.70) (3,454,051.63)
Change in Cash, Payables, Receivables 496,662.26 348,752.14 Amortization/Accretion 9,620.96 52,961.19
Change in Net Unrealized Gain (Loss) (176,667.21) 290,431.64 Realized Gain (Loss) 0.01 (0.01)
Ending Market Value 105,113,971.67 105,113,971.67
Maturities / Calls
Month to Date (365,000.00)
Fiscal Year to Date (3,950,000.00)
Principal Paydowns
Month to Date (299,769.76)
Fiscal Year to Date (707,414.06)
Purchases
Month to Date 1,199,073.21
Fiscal Year to Date 29,441,792.06
Sales
Month to Date (656,860.70)
Fiscal Year to Date (3,454,051.63)
Interest Received
Month to Date 348,399.77
Fiscal Year to Date 1,723,728.68
Purchased / Sold Interest
Month to Date (968.75)
Fiscal Year to Date (23,083.43)
CONFIDENTIAL | 4
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

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
43815BAC4 HAROT 2022-1 A3 1.88
05/15/2026 16,485.98 02/15/2022

1.89%
16,483.50
16,485.47

99.68 4.92%
16,433.64

13.78 0.02%
(51.83)
Aaa/AAA
NA

0.96 0.10
43815PAC3 HAROT 2022-2 A3 3.73
07/20/2026 25,596.68 08/15/2022

3.87%
25,595.16
25,596.31

99.81 4.65%
25,547.29

34.48 0.02%
(49.02)
NA/AAA
AAA

1.14 0.22
05602RAD3 BMWOT 2022-A A3 3.21
08/25/2026 36,809.95 01/05/2023

4.81%
35,845.12
36,488.25

99.76 4.77%
36,720.68

19.69 0.03%
232.43
Aaa/AAA
NA

1.24 0.16
89238FAD5 TAOT 2022-B A3 2.93
09/15/2026 21,360.68 04/07/2022

3.09%
21,360.18
21,360.57

99.68 4.68%
21,291.62

27.82 0.02%
(68.95)
Aaa/AAA
NA

1.29 0.19
47787JAC2 JDOT 2022 A3 2.32 09/15/2026 16,477.44 03/10/2022

2.34%
16,473.79
16,476.47

99.61 4.78%
16,413.11

16.99 0.02%
(63.37)
Aaa/NA
AAA

1.29 0.16
379929AD4 GMALT 2023-3 A3 5.38
11/20/2026 52,597.72 08/08/2023

5.38%
52,591.41
52,594.88
100.20

4.53%
52,703.15

86.46 0.05%
108.27
NA/AAA
AAA

1.47 0.22
47800AAC4 JDOT 2022-B A3 3.74
02/16/2027 44,695.54 07/12/2022

3.77%
44,691.27
44,694.22

99.63 4.89%
44,528.84

74.29 0.04%
(165.37)
Aaa/NA
AAA

1.71 0.33
448979AD6 HART 2023-A A3 4.58
04/15/2027 91,030.06 04/04/2023

5.14%
91,021.17
91,025.91

99.99 4.66%
91,019.15
185.30

0.09%
(6.76)
NA/AAA
AAA

1.87 0.38
36265WAD5 GMCAR 2022-3 A3 3.64
04/16/2027 28,974.27 07/06/2022

3.93%
28,974.07
28,974.20

99.73 4.70%
28,896.67

43.94 0.03%
(77.53)
Aaa/NA
AAA

1.88 0.26
43815JAC7 HAROT 2023-1 A3 5.04
04/21/2027 43,276.02 02/16/2023

5.09%
43,267.98
43,272.39
100.19

4.68%
43,359.10

60.59 0.04%

86.72 Aaa/NA
AAA

1.89 0.46
47800BAC2 JDOT 2022-C A3 5.09
06/15/2027 107,631.39 10/12/2022

3.29%
107,623.04
107,628.10
100.25

4.55%
107,896.79
243.49

0.10%
268.69
Aaa/NA
AAA

2.04 0.41
58770AAC7 MBART 2023-1 A3 4.51
11/15/2027 57,679.43 01/18/2023

4.56%
57,672.51
57,675.99

99.96 4.64%
57,655.07
115.62

0.05%
(20.92)
NA/AAA
AAA

2.46 0.50
58769GAD5 MBALT 2024-B A3 4.23
02/15/2028 130,000.00 09/17/2024

4.24%
129,978.12
129,982.52

99.68 4.54%
129,589.46
244.40

0.12%
(393.06)
NA/AAA
AAA

2.71 1.17
362583AD8 GMCAR 2023-2 A3 4.47
02/16/2028 88,639.06 04/04/2023

4.51%
88,636.63
88,637.70

99.98 4.54%
88,622.80
165.09

0.08%
(14.90)
Aaa/AAA
NA

2.71 0.56
47787CAC7 JDOT 2023-C A3 5.48
05/15/2028 310,000.00 09/12/2023

5.55%
309,978.70
309,986.48
100.79

4.45%
312,439.36
755.02

0.30%
2,452.88
Aaa/NA
AAA

2.96 0.72
02582JJZ4 AMXCA 2023-1 A 4.87
05/15/2026 125,000.00 06/07/2023

4.92%
124,988.91
124,995.32
100.43

4.45%
125,539.56
270.56

0.12%
544.24
NA/AAA
AAA

0.96 0.91
362962AD4 GMALT 2025-2 A3 4.58
05/20/2028 155,000.00 05/20/2025

4.84%
154,997.43
154,997.44
100.00

4.62%
155,000.00

39.44 0.15%

2.56 NA/AAA
AAA

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
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 340,000.00 09/07/2023

5.23%
339,905.75
339,937.99
100.98

4.41%
343,343.22
779.73

0.33%
3,405.23
NA/AAA
AAA

3.29 1.22
02582JKD1 AMXCA 2023-3 A 5.23
09/15/2028 340,000.00 09/12/2023

5.29%
339,984.80
339,989.98
101.06

4.42%
343,604.10
790.31

0.33%
3,614.12
NA/AAA
AAA

3.29 1.22
44934QAD3 HART 2024-B A3 4.84
03/15/2029 90,000.00 07/16/2024

5.45%
89,986.42
89,988.92
100.81

4.34%
90,724.53
193.60

0.09%
735.61
NA/AAA
AAA

3.79 1.47
448976AD2 HART 2024-C A3 4.41
05/15/2029 140,000.00 10/08/2024

4.46%
139,989.75
139,991.15
100.07

4.41%
140,094.39
274.40

0.13%
103.24
NA/AAA
AAA

3.96 1.65
89239TAD4 TAOT 2024-D A3 4.4 06/15/2029 105,000.00 10/10/2024

4.51%
104,994.14
104,994.92
100.15

4.34%
105,158.07
205.33

0.10%
163.15
Aaa/AAA
NA

4.04 1.51
38014AAD3 GMCAR 2024-4 A3 4.4
08/16/2029 95,000.00 10/08/2024

4.32%
94,981.70
94,984.06
100.04

4.41%
95,035.70
174.17

0.09%

51.64 Aaa/AAA
NA

4.21 1.41
096924AD7 BMWOT 2025-A A3 4.56
09/25/2029 220,000.00 02/04/2025

4.56%
219,978.33
219,979.73
100.55

4.27%
221,209.45
167.20

0.21%
1,229.72
Aaa/AAA
NA

4.32 1.65
437921AD1 HAROT 252 A3 4.15 10/15/2029 105,000.00 04/29/2025

4.15%
104,988.27
104,988.44

99.88 4.24%
104,868.92
278.40

0.10%
(119.53)
Aaa/NA
AAA

4.38 2.16
92348KDY6 VZMT 2025-3 A1A 4.51
03/20/2030 255,000.00 03/25/2025

4.51%
254,989.04
254,989.41
100.16

4.51%
255,418.94
351.40

0.24%
429.52
Aaa/NA
AAA

4.80 1.69
Total ABS 3,041,254.21 4.76%
3,039,977.19
3,040,716.85
100.39

4.47%
3,053,113.61
5,611.49

2.90%
12,396.77

3.17 1.15
AGENCY
3135G06G3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 11/07/2025 350,000.00 11/18/2020

0.52%
349,639.50
349,968.40

98.36 4.39%
344,251.68
116.67

0.33%
(5,716.72)
Aa1/AA+
AA+

0.44 0.42
3130B3A29 FEDERAL HOME LOAN BANKS 4.0
10/09/2026 600,000.00 10/21/2024

4.00%
599,994.00
599,995.86

99.90 4.07%
599,424.64
3,466.67

0.57%
(571.22)
Aa1/AA+
AA+

1.36 1.30
3133ERFJ5 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 05/20/2027 330,000.00 05/23/2024

4.79%
327,333.60
328,245.21
100.94

4.00%
333,097.38
453.75

0.32%
4,852.17
Aa1/AA+
AA+

1.97 1.86
3130ATS57 FEDERAL HOME LOAN BANKS 4.5
03/10/2028 700,000.00 03/21/2023

3.99%
715,799.00
708,817.84
101.59

3.89%
711,121.94
7,087.50

0.68%
2,304.09
Aa1/AA+
AA+

2.78 2.56
3133ERGL9 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.5 06/07/2028 450,000.00 06/25/2024

4.44%
450,984.50
450,752.37
101.42

4.00%
456,371.39
9,787.50

0.43%
5,619.02
Aa1/AA+
AA+

3.02 2.74
3133EPN50 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.25 12/15/2028 650,000.00 12/28/2023

3.89%
660,575.50
657,542.26
101.06

3.93%
656,878.02
12,738.19

0.62%
(664.24)
Aa1/AA+
AA+

3.54 3.20
Total Agency 3,080,000.00 3.74%
3,104,326.10
3,095,321.95
100.70

4.01%
3,101,145.05
33,650.28

2.95%
5,823.11

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

AGENCY CMBS
3137BNGT5 FHMS K-054 A2 2.745
01/25/2026 458,285.32 02/15/2023

4.65%
435,174.14
453,552.50

98.79 4.53%
452,757.44
1,048.33

0.43%
(795.07)
Aa1/AA+
AAA

0.65 0.58
3137BVZ82 FHMS K-063 A2 3.43 01/25/2027 320,000.00 02/06/2024

4.48%
310,725.00
314,919.37

98.56 4.30%
315,380.90
914.67

0.30%
461.53
Aa1/AA+
AAA

1.65 1.44
3137FEBQ2 FHMS K-072 A2 3.444
12/25/2027 500,000.00 08/22/2023

4.98%
470,429.69
482,682.69

98.08 4.20%
490,387.95
1,435.00

0.47%
7,705.26
Aa1/AA+
AAA

2.57 2.34
3137FETN0 FHMS K-073 A2 3.35 01/25/2028 465,000.00 05/24/2023

4.34%
446,908.59
454,816.17

97.83 4.20%
454,923.12
1,298.13

0.43%
106.96
Aa1/AA+
AAA

2.65 2.38
3137FHPJ6 FHMS K-080 A2 3.926
07/25/2028 325,000.00 01/23/2024

4.45%
317,814.45
319,999.43

99.06 4.19%
321,949.29
1,063.29

0.31%
1,949.86
Aaa/AA+
AA+

3.15 2.89
3137FJEH8 FHMS K-081 A2 3.9 08/25/2028 155,000.00 09/15/2023

4.86%
148,436.72
150,726.67

99.08 4.16%
153,571.37
503.75

0.15%
2,844.70
Aa1/AA+
AAA

3.24 2.95
3137H4BY5 FHMS K-746 A2 2.031
09/25/2028 315,000.00 10/03/2023

5.30%
270,973.83
285,813.01

93.35 4.20%
294,067.97
533.14

0.28%
8,254.96
Aa1/AA+
AAA

3.32 3.10
3137FJXV6 FHMS K-083 A2 4.05 09/25/2028 297,000.00 12/07/2023

4.60%
289,783.83
292,030.26

99.38 4.20%
295,145.74
1,002.38

0.28%
3,115.48
Aa1/AA+
AAA

3.32 3.03
3137FJKE8 FHMS K-082 A2 3.92 09/25/2028 220,000.00 09/20/2024

3.81%
220,575.78
220,476.01

99.00 4.20%
217,810.56
718.67

0.21%
(2,665.45)
Aa1/AA+
AAA

3.32 2.99
3137FJZ93 FHMS K-084 A2 3.78 10/25/2028 240,000.00 10/20/2023

5.40%
223,818.75
229,068.91

98.45 4.24%
236,284.54
756.00

0.22%
7,215.63
Aaa/AA+
AA+

3.40 3.08
Total Agency CMBS 3,295,285.32 4.68%
3,134,640.78
3,204,085.00

98.11 4.26%
3,232,278.86
9,273.34

3.08%
28,193.87

2.56 2.32
CASH
CCYUSD Receivable 372,144.81 --

0.00%
372,144.81
372,144.81

1.00 0.00%
372,144.81

0.00 0.35%

0.00 Aaa/AAA
AAA

0.00 0.00
CCYUSD Receivable 41,102.70 --

0.00%
41,102.70
41,102.70

1.00 0.00%
41,102.70

0.00 0.04%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 413,247.51 0.00%
413,247.51
413,247.51

1.00 0.00%
413,247.51

0.00 0.39%

0.00 0.00

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
63743HFE7

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

3.45 06/15/2025
95,000.00 04/27/2022

3.46%
94,974.35
94,999.68

99.93 5.31%
94,933.53
1,511.29

0.09%
(66.16)
A2/A-
A

0.04 0.04
46625HMN7 JPMORGAN CHASE & CO 3.9
07/15/2025 400,000.00 05/29/2024

5.58%
392,748.00
399,223.63

99.92 4.47%
399,697.57
5,893.33

0.38%
473.94
A1/A
AA-

0.12 0.12
6174468C6 MORGAN STANLEY 4.0
07/23/2025 394,000.00 04/10/2024

5.56%
386,478.56
393,162.49

99.88 4.77%
393,537.32
5,603.56

0.37%
374.82
A1/A-
A+

0.15 0.14
931142EW9 WALMART INC 3.9 09/09/2025 80,000.00 09/06/2022

3.92%
79,944.00
79,994.89

99.90 4.25%
79,916.45
710.67

0.08%
(78.44)
Aa2/AA
AA

0.28 0.27
437076CR1 HOME DEPOT INC 4.0
09/15/2025 110,000.00 09/12/2022

4.01%
109,960.40
109,996.16

99.87 4.44%
109,852.93
928.89

0.10%
(143.22)
A2/A
A

0.29 0.28
20030NCS8 COMCAST CORP 3.95
10/15/2025 400,000.00 03/11/2024

4.95%
393,932.00
398,579.61

99.82 4.41%
399,293.28
2,018.89

0.38%
713.67
A3/A-
A-

0.38 0.36
037833BY5 APPLE INC 3.25 02/23/2026 400,000.00 05/09/2023

4.05%
391,672.00
397,817.88

99.17 4.42%
396,674.48
3,538.89

0.38%
(1,143.40)
Aaa/AA+
NA

0.73 0.70
61747YET8 MORGAN STANLEY 4.679
07/17/2026 175,000.00 07/18/2022

4.68%
175,000.00
175,000.00

99.99 5.89%
174,976.46
3,047.85

0.17%
(23.54)
A1/A-
A+

1.13 0.12
06428CAA2 BANK OF AMERICA NA 5.526
08/18/2026 300,000.00 09/19/2023

5.61%
299,277.00
299,698.41
101.28

4.42%
303,835.40
4,743.15

0.29%
4,136.99
Aa2/A+
AA

1.22 1.07
931142ER0 WALMART INC 1.05 09/17/2026 40,000.00 09/08/2021

1.09%
39,924.40
39,980.42

96.26 4.05%
38,504.19

86.33 0.04%
(1,476.22)
Aa2/AA
AA

1.30 1.26
63743HFK3

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

5.6 11/13/2026
390,000.00 11/14/2023

5.25%
393,666.00
391,722.54
101.53

4.49%
395,980.45
1,092.00

0.38%
4,257.91
A2/A-
A

1.45 1.30
89115A2V3 TORONTO-DOMINION BANK

5.264 12/11/2026 160,000.00 12/04/2023

5.26%
160,000.00
160,000.00
101.12

4.49%
161,794.74
3,977.24

0.15%
1,794.74
A2/A-
AA-

1.53 1.42
78016HZT0 ROYAL BANK OF CANADA 4.875
01/19/2027 150,000.00 01/10/2024

4.88%
149,962.50
149,979.57
100.82

4.34%
151,232.18
2,681.25

0.14%
1,252.61
A1/A
AA-

1.64 1.53
17275RBQ4 CISCO SYSTEMS INC 4.8
02/26/2027 170,000.00 02/21/2024

4.85%
169,779.00
169,871.96
100.99

4.20%
171,684.22
2,153.33

0.16%
1,812.26
A1/AA-
NA

1.74 1.55
857477CL5 STATE STREET CORP 4.993
03/18/2027 365,000.00 03/13/2024

4.99%
365,000.00
365,000.00
101.20

4.29%
369,362.25
3,695.51

0.35%
4,362.25
Aa3/A
AA-

1.80 1.61
89115A2W1 TORONTO-DOMINION BANK

4.98 04/05/2027 400,000.00 04/08/2024

5.21%
397,448.00
398,424.32
100.84

4.50%
403,346.39
3,098.67

0.38%
4,922.08
A2/A-
AA-

1.85 1.73
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 450,000.00 10/05/2022

4.70%
436,909.50
444,470.12

99.68 4.17%
448,572.17
1,050.00

0.43%
4,102.05
A2/A+
A+

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
14913UAL4 CATERPILLAR FINANCIAL
SERVICES CORP 5.0 05/14/2027 405,000.00 05/21/2024

4.93%
405,743.58
405,487.50
101.41

4.24%
410,719.94
956.25

0.39%
5,232.44
A2/A
A+

1.95 1.84
24422EXZ7 JOHN DEERE CAPITAL CORP 4.65
01/07/2028 280,000.00 01/06/2025

4.66%
279,916.00
279,926.99
101.30

4.12%
283,633.82
5,135.67

0.27%
3,706.83
A1/A
A+

2.61 2.38
438516CJ3 HONEYWELL INTERNATIONAL
INC 4.95 02/15/2028 400,000.00 02/13/2023

4.44%
408,972.00
404,788.40
101.70

4.27%
406,799.06
5,830.00

0.39%
2,010.67
A2/A
A

2.71 2.40
57636QAW4 MASTERCARD INC 4.875
03/09/2028 290,000.00 04/19/2023

4.17%
298,833.40
294,947.71
102.00

4.10%
295,804.90
3,220.21

0.28%
857.19
Aa3/A+
NA

2.77 2.47
74456QBU9 PUBLIC SERVICE ELECTRIC AND
GAS CO 3.7 05/01/2028 300,000.00 09/06/2023

5.10%
282,801.00
289,206.28

98.55 4.23%
295,643.96
925.00

0.28%
6,437.68
A1/A
NA

2.92 2.72
58933YBH7 MERCK & CO INC 4.05
05/17/2028 90,000.00 05/08/2023

4.07%
89,927.10
89,956.87

99.98 4.06%
89,979.82
141.75

0.09%

22.95 Aa3/A+
NA

2.96 2.76
91324PEU2 UNITEDHEALTH GROUP INC 4.25
01/15/2029 350,000.00 02/13/2025

4.77%
343,563.50
344,044.78

98.82 4.61%
345,875.88
5,619.44

0.33%
1,831.10
A2/A+
A

3.63 3.26
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029 410,000.00 01/24/2024

4.64%
409,331.70
409,509.84
100.89

4.33%
413,641.41
6,339.06

0.39%
4,131.57
A1/A+
NA

3.67 3.29
89236TMF9 TOYOTA MOTOR CREDIT CORP

5.05 05/16/2029 400,000.00 06/25/2024

4.88%
402,872.00
402,324.95
102.06

4.48%
408,227.37
841.67

0.39%
5,902.42
A1/A+
A+

3.96 3.55
341081GT8 FLORIDA POWER & LIGHT CO

5.15 06/15/2029 330,000.00 09/19/2024

4.03%
345,331.80
342,997.10
103.09

4.31%
340,206.22
7,836.58

0.32%
(2,790.88)
Aa2/A+
AA-

4.04 3.41
437076DC3 HOME DEPOT INC 4.75
06/25/2029 295,000.00 --

4.74%
295,110.25
295,097.77
101.51

4.34%
299,465.27
6,072.08

0.28%
4,367.50
A2/A
A

4.07 3.53
713448FX1 PEPSICO INC 4.5 07/17/2029 295,000.00 07/15/2024

4.53%
294,542.75
294,622.63
101.00

4.23%
297,943.58
4,941.25

0.28%
3,320.95
A1/A+
NA

4.13 3.61
26444HAH4 DUKE ENERGY FLORIDA LLC 2.5
12/01/2029 450,000.00 12/16/2024

4.72%
406,363.50
410,365.52

92.16 4.44%
414,705.17
5,625.00

0.39%
4,339.65
A1/A
NA

4.50 4.18
931142FN8 WALMART INC 4.35 04/28/2030 310,000.00 04/23/2025

4.39%
309,463.70
309,473.69
100.37

4.27%
311,134.38
1,236.13

0.30%
1,660.69
Aa2/AA
AA

4.91 4.29
Total Corporate 9,084,000.00 4.78%
9,009,447.99
9,040,671.70
100.30

4.40%
9,106,974.79
100,550.94

8.66%
66,303.09

2.31 2.07
LAIF
90LAIF$00 Local Agency Investment Fund
State Pool 5,763,408.76 --

4.28%
5,763,408.76
5,763,408.76

1.00 4.28%
5,763,408.76

0.00 5.48%

0.00 NA/NA
NA

0.00 0.00
Total LAIF 5,763,408.76 4.28%
5,763,408.76
5,763,408.76

1.00 4.28%
5,763,408.76

0.00 5.48%

0.00 0.00

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

LOCAL GOV

INVESTMENT
POOL
09CATR$05 CalTrust MTF 726,395.10 --

4.09%
7,287,051.53
7,287,051.53

9.86 4.09%
7,162,255.73

0.00 6.81%
(124,795.80)
NA/AAAm
NA

0.00 0.00
90CAMP$06 CAMP 1,250,000.00 12/31/2023

4.41%
1,250,000.00
1,250,000.00

1.00 4.41%
1,250,000.00

0.00 1.19%

0.00 NA/AAAm
NA

0.00 0.00
90CAMP$00 CAMP 56,943,583.10 --

4.41%
56,943,583.10
56,943,583.10

1.00 4.41%
56,943,583.10

0.00 54.17%

0.00 NA/AAAm
AAA

0.00 0.00
Total Local Gov
Investment Pool 58,919,978.20 4.37%
65,480,634.63
65,480,634.63

1.97 4.37%
65,355,838.83

0.00 62.18%
(124,795.80)

0.00 0.00

MONEY MARKET
FUND
31846V203 FIRST AMER:GVT OBLG Y 102,271.46 --

3.94%
102,271.46
102,271.46

1.00 3.94%
102,271.46

0.00 0.10%

0.00 Aaa/
AAAm
AAA

0.00 0.00
Total Money
Market Fund 102,271.46 3.94%
102,271.46
102,271.46

1.00 3.94%
102,271.46

0.00 0.10%

0.00 0.00

0.00 SUPRANATIONAL
459058LK7

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.0 08/27/2026
170,000.00 08/20/2024

4.06%
169,802.80
169,877.90

99.89 4.09%
169,811.03
1,775.56

0.16%
(66.87)
Aaa/AAA
NA

1.24 1.18
459058KT9

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.5 07/12/2028
250,000.00 11/28/2023

4.53%
239,372.50
242,833.06

98.74 3.93%
246,847.41
3,378.47

0.23%
4,014.35
Aaa/AAA
NA

3.11 2.88
459058KW2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.625 08/01/2028
250,000.00 --

4.97%
246,407.00
247,622.82
102.02

3.94%
255,058.07
3,854.17

0.24%
7,435.25
Aaa/AAA
NA

3.17 2.88
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
300,000.00 10/08/2024

3.93%
299,217.00
299,314.77

99.54 3.99%
298,634.36
1,453.13

0.28%
(680.41)
Aaa/AAA
NA

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
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
205,000.00 03/14/2025

4.20%
204,268.15
204,297.41
100.48

4.01%
205,977.90
1,667.76

0.20%
1,680.49
Aaa/AAA
NA

4.80 4.28
Total
Supranational 1,175,000.00 4.35%
1,159,067.45
1,163,945.95
100.13

3.99%
1,176,328.76
12,129.08

1.12%
12,382.81

3.47 3.16

US TREASURY
91282CEU1 UNITED STATES TREASURY 2.875
06/15/2025 500,000.00 07/30/2024

4.90%
491,425.78
499,623.70

99.94 4.57%
499,687.50
6,634.62

0.48%

63.80 Aa1/AA+
AA+

0.04 0.04
91282CEY3 UNITED STATES TREASURY 3.0
07/15/2025 475,000.00 03/15/2024

4.94%
463,273.44
473,933.95

99.83 4.37%
474,202.15
5,392.96

0.45%
268.20
Aa1/AA+
AA+

0.12 0.12
9128284Z0 UNITED STATES TREASURY 2.75
08/31/2025 750,000.00 --

0.99%
800,092.78
753,234.62

99.62 4.28%
747,164.06
5,212.30

0.71%
(6,070.56)
Aa1/AA+
AA+

0.25 0.24
91282CFK2 UNITED STATES TREASURY 3.5
09/15/2025 475,000.00 03/15/2024

4.90%
465,537.11
473,162.88

99.75 4.36%
473,803.22
3,523.78

0.45%
640.34
Aa1/AA+
AA+

0.29 0.28
91282CFP1 UNITED STATES TREASURY 4.25
10/15/2025 550,000.00 06/23/2023

4.59%
545,982.42
549,351.08

99.97 4.30%
549,842.45
3,001.71

0.52%
491.37
Aa1/AA+
AA+

0.38 0.36
91282CAZ4 UNITED STATES TREASURY 0.375
11/30/2025 750,000.00 --

0.88%
734,730.47
748,153.72

98.07 4.36%
735,533.21

7.68 0.70%
(12,620.51)
Aa1/AA+
AA+

0.50 0.48
91282CGA3 UNITED STATES TREASURY 4.0
12/15/2025 600,000.00 11/18/2024

4.38%
597,632.81
598,807.32

99.92 4.16%
599,501.95
11,076.92

0.57%
694.63
Aa1/AA+
AA+

0.54 0.52
9128286L9 UNITED STATES TREASURY 2.25
03/31/2026 750,000.00 02/25/2022

1.91%
760,078.13
752,046.70

98.42 4.20%
738,181.64
2,858.61

0.70%
(13,865.06)
Aa1/AA+
AA+

0.83 0.81
91282CGV7 UNITED STATES TREASURY 3.75
04/15/2026 400,000.00 02/24/2025

4.21%
397,968.75
398,439.76

99.61 4.20%
398,459.38
1,926.23

0.38%

19.61 Aa1/AA+
AA+

0.87 0.84
912828R36 UNITED STATES TREASURY 1.625
05/15/2026 250,000.00 10/14/2021

0.99%
257,148.44
251,486.94

97.65 4.17%
244,125.00
187.67

0.23%
(7,361.94)
Aa1/AA+
AA+

0.96 0.93
91282CHB0 UNITED STATES TREASURY 3.625
05/15/2026 300,000.00 03/28/2025

4.06%
298,558.59
298,776.56

99.50 4.16%
298,502.34
502.38

0.28%
(274.22)
Aa1/AA+
AA+

0.96 0.92
91282CHH7 UNITED STATES TREASURY 4.125
06/15/2026 475,000.00 08/26/2024

3.94%
476,502.93
475,866.99

99.98 4.14%
474,907.23
9,043.27

0.45%
(959.76)
Aa1/AA+
AA+

1.04 0.99
912828YG9 UNITED STATES TREASURY 1.625
09/30/2026 300,000.00 12/28/2021

1.24%
305,296.88
301,482.88

96.89 4.05%
290,683.59
825.82

0.28%
(10,799.29)
Aa1/AA+
AA+

1.33 1.29
91282CJC6 UNITED STATES TREASURY 4.625
10/15/2026 475,000.00 08/26/2024

3.84%
482,514.65
479,832.91
100.77

4.04%
478,655.27
2,821.12

0.46%
(1,177.64)
Aa1/AA+
AA+

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
912828U24 UNITED STATES TREASURY 2.0
11/15/2026 625,000.00 03/29/2022

2.55%
609,912.11
620,253.25

97.17 4.03%
607,299.81
577.45

0.58%
(12,953.44)
Aa1/AA+
AA+

1.46 1.41
91282CJP7 UNITED STATES TREASURY 4.375
12/15/2026 300,000.00 12/27/2023

4.02%
302,906.25
301,508.14
100.54

4.01%
301,617.19
6,057.69

0.29%
109.05
Aa1/AA+
AA+

1.54 1.44
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027 750,000.00 --

2.90%
736,449.21
744,854.12

97.49 3.93%
731,191.41
3,176.23

0.70%
(13,662.71)
Aa1/AA+
AA+

1.83 1.76
912828X88 UNITED STATES TREASURY 2.375
05/15/2027 350,000.00 06/09/2022

3.08%
338,666.02
345,510.49

97.12 3.92%
339,923.83
384.00

0.32%
(5,586.66)
Aa1/AA+
AA+

1.96 1.88
91282CKZ3 UNITED STATES TREASURY 4.375
07/15/2027 1,000,000.00 11/18/2024

4.29%
1,002,070.31
1,001,655.39
100.95

3.90%
1,009,492.19
16,557.32

0.96%
7,836.80
Aa1/AA+
AA+

2.12 1.98
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 570,000.00 10/26/2022

4.19%
568,419.14
569,252.19
100.55

3.87%
573,139.45
3,982.99

0.55%
3,887.26
Aa1/AA+
AA+

2.33 2.19
9128283F5 UNITED STATES TREASURY 2.25
11/15/2027 800,000.00 12/20/2022

3.84%
743,625.00
771,749.51

96.21 3.89%
769,656.25
831.52

0.73%
(2,093.26)
Aa1/AA+
AA+

2.46 2.35
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 500,000.00 05/25/2023

3.98%
497,890.63
498,815.99
100.02

3.87%
500,097.66
8,135.36

0.48%
1,281.66
Aa1/AA+
AA+

2.59 2.39
91282CGT2 UNITED STATES TREASURY 3.625
03/31/2028 600,000.00 01/10/2025

4.46%
585,117.19
586,880.80

99.38 3.86%
596,250.00
3,684.43

0.57%
9,369.20
Aa1/AA+
AA+

2.84 2.65
9128285M8 UNITED STATES TREASURY 3.125
11/15/2028 400,000.00 04/10/2025

3.89%
389,765.63
390,162.85

97.54 3.89%
390,140.62
577.45

0.37%
(22.23)
Aa1/AA+
AA+

3.46 3.23
912828YB0 UNITED STATES TREASURY 1.625
08/15/2029 150,000.00 09/24/2024

3.49%
137,542.97
139,280.67

91.31 3.89%
136,962.89
713.74

0.13%
(2,317.78)
Aa1/AA+
AA+

4.21 3.98
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 200,000.00 12/17/2024

4.25%
198,929.69
199,027.37
100.75

3.94%
201,507.81

22.54 0.19%
2,480.44
Aa1/AA+
AA+

4.50 4.07
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030 250,000.00 03/28/2025

4.02%
249,804.69
249,811.32
100.17

3.96%
250,429.69
1,693.99

0.24%
618.37
Aa1/AA+
AA+

4.83 4.32
91282CMZ1 UNITED STATES TREASURY 3.875
04/30/2030 400,000.00 05/22/2025

4.11%
395,906.25
395,926.68

99.60 3.96%
398,406.25
1,347.83

0.38%
2,479.56
Aa1/AA+
AA+

4.91 4.42
Total US Treasury 13,945,000.00 3.48%
13,833,748.27
13,868,888.79

99.05 4.09%
13,809,364.03
100,757.59

13.14%
(59,524.76)

1.60 1.50
Total Portfolio 98,819,445.46 4.27%
105,040,770.14
105,173,192.60

33.01 4.30%
105,113,971.67
261,972.71
100.00%
(59,220.93)

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

ACQUISITIONS
Purchase 05/01/2025 31846V203 5,550.00 FIRST AMER:GVT OBLG Y 1.000 3.98% (5,550.00) 0.00 (5,550.00) 0.00 Purchase 05/02/2025 31846V203 1,391.20 FIRST AMER:GVT OBLG Y 1.000 3.96% (1,391.20) 0.00 (1,391.20) 0.00 Purchase 05/07/2025 31846V203 875.00 FIRST AMER:GVT OBLG Y 1.000 3.92% (875.00) 0.00 (875.00) 0.00 Purchase 05/12/2025 31846V203 9,000.00 FIRST AMER:GVT OBLG Y 1.000 3.90% (9,000.00) 0.00 (9,000.00) 0.00 Purchase 05/13/2025 31846V203 10,920.00 FIRST AMER:GVT OBLG Y 1.000 3.90% (10,920.00) 0.00 (10,920.00) 0.00 Purchase 05/14/2025 31846V203 10,125.00 FIRST AMER:GVT OBLG Y 1.000 3.92% (10,125.00) 0.00 (10,125.00) 0.00 Purchase 05/15/2025 31846V203 186,801.71 FIRST AMER:GVT OBLG Y 1.000 3.92% (186,801.71) 0.00 (186,801.71) 0.00 Purchase 05/15/2025 31846V203 96,862.91 FIRST AMER:GVT OBLG Y 1.000 3.92% (96,862.91) 0.00 (96,862.91) 0.00 Purchase 05/16/2025 31846V203 14,889.28 FIRST AMER:GVT OBLG Y 1.000 3.92% (14,889.28) 0.00 (14,889.28) 0.00 Purchase 05/16/2025 31846V203 7,799.48 FIRST AMER:GVT OBLG Y 1.000 3.92% (7,799.48) 0.00 (7,799.48) 0.00 Purchase 05/19/2025 31846V203 7,402.90 FIRST AMER:GVT OBLG Y 1.000 3.92% (7,402.90) 0.00 (7,402.90) 0.00 Purchase 05/20/2025 31846V203 19,251.04 FIRST AMER:GVT OBLG Y 1.000 3.91% (19,251.04) 0.00 (19,251.04) 0.00 Purchase 05/20/2025 31846V203 958.37 FIRST AMER:GVT OBLG Y 1.000 3.91% (958.37) 0.00 (958.37) 0.00 Purchase 05/21/2025 31846V203 6,139.87 FIRST AMER:GVT OBLG Y 1.000 3.90% (6,139.87) 0.00 (6,139.87) 0.00 Purchase 05/23/2025 91282CMZ1 400,000.00 UNITED STATES TREASURY

3.875 04/30/2030 98.977 4.11% (395,906.25) (968.75) (396,875.00) 0.00 Purchase 05/27/2025 31846V203 15,189.30 FIRST AMER:GVT OBLG Y 1.000 3.89% (15,189.30) 0.00 (15,189.30) 0.00 Purchase 05/27/2025 31846V203 18,124.89 FIRST AMER:GVT OBLG Y 1.000 3.89% (18,124.89) 0.00 (18,124.89) 0.00 Purchase 05/29/2025 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/20/2028 99.998 4.84% (154,997.43) 0.00 (154,997.43) 0.00 Purchase 05/31/2025 90CAMP$00 213,103.84 CAMP 1.000 4.41% (213,103.84) 0.00 (213,103.84) 0.00 Purchase 05/31/2025 09CATR$05 2,412.25 CalTrust MTF 9.860 4.09% (23,784.74) 0.00 (23,784.74) 0.00 Total Purchase 1,181,797.04 (1,199,073.21) (968.75) (1,200,041.96) 0.00 TOTAL
ACQUISITIONS 1,181,797.04 (1,199,073.21) (968.75) (1,200,041.96) 0.00

DISPOSITIONS
Maturity 05/15/2025 02582JJT8 (185,000.00) AMXCA 2022-2 A 3.39 05/17/2027 100.000 3.42% 0.00 0.00 0.00 0.00
CONFIDENTIAL | 13
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Maturity 05/31/2025 912828ZT0 (365,000.00) UNITED STATES TREASURY

0.25 05/31/2025 100.000 0.60% 365,000.00 0.00 365,000.00 0.00 Total Maturity (550,000.00) 365,000.00 0.00 365,000.00 0.00 Sale 05/08/2025 31846V203 (104,988.27) FIRST AMER:GVT OBLG Y 1.000 3.91% 104,988.27 0.00 104,988.27 0.00 Sale 05/23/2025 31846V203 (396,875.00) FIRST AMER:GVT OBLG Y 1.000 3.89% 396,875.00 0.00 396,875.00 0.00 Sale 05/29/2025 31846V203 (154,997.43) FIRST AMER:GVT OBLG Y 1.000 3.93% 154,997.43 0.00 154,997.43 0.00 Total Sale (656,860.70) 656,860.70 0.00 656,860.70 0.00 TOTAL
DISPOSITIONS (1,206,860.70) 1,021,860.70 0.00 1,021,860.70 0.00 OTHER

TRANSACTIONS
Coupon 05/01/2025 3137FJZ93 0.00 FHMS K-084 A2 3.78
10/25/2028 5.40% 756.00 0.00 756.00 0.00
Coupon 05/01/2025 3137H4BY5 0.00 FHMS K-746 A2 2.031
09/25/2028 5.30% 533.14 0.00 533.14 0.00
Coupon 05/01/2025 74456QBU9 0.00

PUBLIC SERVICE ELECTRIC
AND GAS CO 3.7
05/01/2028

5.10% 5,550.00 0.00 5,550.00 0.00
Coupon 05/01/2025 3137FEBQ2 0.00 FHMS K-072 A2 3.444
12/25/2027 4.98% 1,435.00 0.00 1,435.00 0.00
Coupon 05/01/2025 3137FJEH8 0.00 FHMS K-081 A2 3.9
08/25/2028 4.86% 503.75 0.00 503.75 0.00
Coupon 05/01/2025 3137BNGT5 0.00 FHMS K-054 A2 2.745
01/25/2026 4.65% 1,074.77 0.00 1,074.77 0.00
Coupon 05/01/2025 3137FJXV6 0.00 FHMS K-083 A2 4.05
09/25/2028 4.60% 1,002.38 0.00 1,002.38 0.00
Coupon 05/01/2025 3137BVZ82 0.00 FHMS K-063 A2 3.43
01/25/2027 4.48% 914.67 0.00 914.67 0.00
Coupon 05/01/2025 3137FHPJ6 0.00 FHMS K-080 A2 3.926
07/25/2028 4.45% 1,063.29 0.00 1,063.29 0.00
Coupon 05/01/2025 3137FETN0 0.00 FHMS K-073 A2 3.35
01/25/2028 4.34% 1,298.12 0.00 1,298.12 0.00
CONFIDENTIAL | 14
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 05/01/2025 3137FJKE8 0.00 FHMS K-082 A2 3.92
09/25/2028 3.81% 718.67 0.00 718.67 0.00
Coupon 05/07/2025 3135G06G3 0.00

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.5 11/07/2025

0.52% 875.00 0.00 875.00 0.00
Coupon 05/10/2025 665859AW4 0.00 NORTHERN TRUST CORP

4.0 05/10/2027 4.70% 9,000.00 0.00 9,000.00 0.00
Coupon 05/13/2025 63743HFK3 0.00

NATIONAL RURAL

UTILITIES COOPERATIVE
FINANCE CORP 5.6
11/13/2026

5.25% 10,920.00 0.00 10,920.00 0.00
Coupon 05/14/2025 14913UAL4 0.00

CATERPILLAR FINANCIAL
SERVICES CORP 5.0
05/14/2027

4.93% 10,125.00 0.00 10,125.00 0.00
Coupon 05/15/2025 47787CAC7 0.00 JDOT 2023-C A3 5.48
05/15/2028 5.55% 1,415.67 0.00 1,415.67 0.00
Coupon 05/15/2025 44934QAD3 0.00 HART 2024-B A3 4.84
03/15/2029 5.45% 363.00 0.00 363.00 0.00
Coupon 05/15/2025 02582JKD1 0.00 AMXCA 2023-3 A 5.23
09/15/2028 5.29% 1,481.83 0.00 1,481.83 0.00
Coupon 05/15/2025 161571HT4 0.00 CHAIT 2023-1 A 5.16
09/15/2028 5.23% 1,462.00 0.00 1,462.00 0.00
Coupon 05/15/2025 448979AD6 0.00 HART 2023-A A3 4.58
04/15/2027 5.14% 387.87 0.00 387.87 0.00
Coupon 05/15/2025 02582JJZ4 0.00 AMXCA 2023-1 A 4.87
05/15/2026 4.92% 507.29 0.00 507.29 0.00
Coupon 05/15/2025 58770AAC7 0.00 MBART 2023-1 A3 4.51
11/15/2027 4.56% 236.11 0.00 236.11 0.00
Coupon 05/15/2025 89239TAD4 0.00 TAOT 2024-D A3 4.4
06/15/2029 4.51% 385.00 0.00 385.00 0.00
Coupon 05/15/2025 448976AD2 0.00 HART 2024-C A3 4.41
05/15/2029 4.46% 514.50 0.00 514.50 0.00
Coupon 05/15/2025 58769GAD5 0.00 MBALT 2024-B A3 4.23
02/15/2028 4.24% 458.25 0.00 458.25 0.00
CONFIDENTIAL | 15
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 05/15/2025 91282CHB0 0.00 UNITED STATES TREASURY

3.625 05/15/2026 4.06% 5,437.50 0.00 5,437.50 0.00
Coupon 05/15/2025 9128285M8 0.00 UNITED STATES TREASURY

3.125 11/15/2028 3.89% 6,250.00 0.00 6,250.00 0.00
Coupon 05/15/2025 9128283F5 0.00 UNITED STATES TREASURY

2.25 11/15/2027 3.84% 9,000.00 0.00 9,000.00 0.00
Coupon 05/15/2025 47800AAC4 0.00 JDOT 2022-B A3 3.74
02/16/2027 3.77% 168.26 0.00 168.26 0.00
Coupon 05/15/2025 02582JJT8 0.00 AMXCA 2022-2 A 3.39
05/17/2027 3.42% 522.63 0.00 522.63 0.00
Coupon 05/15/2025 47800BAC2 0.00 JDOT 2022-C A3 5.09
06/15/2027 3.29% 516.59 0.00 516.59 0.00
Coupon 05/15/2025 89238FAD5 0.00 TAOT 2022-B A3 2.93
09/15/2026 3.09% 64.04 0.00 64.04 0.00
Coupon 05/15/2025 912828X88 0.00 UNITED STATES TREASURY

2.375 05/15/2027 3.08% 4,156.25 0.00 4,156.25 0.00
Coupon 05/15/2025 912828U24 0.00 UNITED STATES TREASURY

2.0 11/15/2026 2.55% 6,250.00 0.00 6,250.00 0.00
Coupon 05/15/2025 47787JAC2 0.00 JDOT 2022 A3 2.32
09/15/2026 2.34% 41.21 0.00 41.21 0.00
Coupon 05/15/2025 43815BAC4 0.00 HAROT 2022-1 A3 1.88
05/15/2026 1.89% 36.27 0.00 36.27 0.00
Coupon 05/15/2025 912828R36 0.00 UNITED STATES TREASURY

1.625 05/15/2026 0.99% 2,031.25 0.00 2,031.25 0.00
Coupon 05/15/2025 89238JAC9 0.00 TAOT 2021-D A3 0.71
04/15/2026 0.95% 0.84 0.00 0.84 0.00
Coupon 05/16/2025 89236TMF9 0.00 TOYOTA MOTOR CREDIT
CORP 5.05 05/16/2029 4.88% 10,100.00 0.00 10,100.00 0.00 Coupon 05/16/2025 362583AD8 0.00 GMCAR 2023-2 A3 4.47
02/16/2028 4.51% 356.61 0.00 356.61 0.00
Coupon 05/16/2025 38014AAD3 0.00 GMCAR 2024-4 A3 4.4
08/16/2029 4.32% 348.33 0.00 348.33 0.00
Coupon 05/16/2025 36265WAD5 0.00 GMCAR 2022-3 A3 3.64
04/16/2027 3.93% 102.11 0.00 102.11 0.00
CONFIDENTIAL | 16
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 05/17/2025 58933YBH7 0.00 MERCK & CO INC 4.05
05/17/2028 4.07% 1,822.50 0.00 1,822.50 0.00
Coupon 05/18/2025 43815PAC3 0.00 HAROT 2022-2 A3 3.73
07/20/2026 3.87% 96.61 0.00 96.61 0.00
Coupon 05/20/2025 379929AD4 0.00 GMALT 2023-3 A3 5.38
11/20/2026 5.38% 287.54 0.00 287.54 0.00
Coupon 05/20/2025 3133ERFJ5 0.00

FEDERAL FARM CREDIT

BANKS FUNDING CORP

4.5 05/20/2027

4.79% 7,425.00 0.00 7,425.00 0.00
Coupon 05/20/2025 92348KDY6 0.00 VZMT 2025-3 A1A 4.51
03/20/2030 4.51% 958.37 0.00 958.37 0.00
Coupon 05/21/2025 43815JAC7 0.00 HAROT 2023-1 A3 5.04
04/21/2027 5.09% 200.48 0.00 200.48 0.00
Coupon 05/21/2025 43815GAC3 0.00 HAROT 2021-4 A3 0.88
01/21/2026 0.89% 1.09 0.00 1.09 0.00
Coupon 05/25/2025 05602RAD3 0.00 BMWOT 2022-A A3 3.21
08/25/2026 4.81% 129.20 0.00 129.20 0.00
Coupon 05/25/2025 096924AD7 0.00 BMWOT 2025-A A3 4.56
09/25/2029 4.56% 836.00 0.00 836.00 0.00
Coupon 05/31/2025 91282CMA6 0.00 UNITED STATES TREASURY

4.125 11/30/2029 4.25% 4,125.00 0.00 4,125.00 0.00
Coupon 05/31/2025 91282CAZ4 0.00 UNITED STATES TREASURY

0.375 11/30/2025 0.88% 1,406.25 0.00 1,406.25 0.00
Coupon 05/31/2025 912828ZT0 0.00 UNITED STATES TREASURY

0.25 05/31/2025 0.60% 456.25 0.00 456.25 0.00
Total Coupon 0.00 116,107.49 0.00 116,107.49 0.00
Dividend 05/31/2025 90CAMP$00 0.00 CAMP 4.41% 213,103.84 0.00 213,103.84 0.00 Dividend 05/31/2025 09CATR$05 0.00 CalTrust MTF 4.09% 23,784.74 0.00 23,784.74 0.00 Dividend 05/31/2025 31846V203 0.00 FIRST AMER:GVT OBLG Y 3.94% 1,157.31 0.00 1,157.31 0.00 Total Dividend 0.00 238,045.89 0.00 238,045.89 0.00
Principal Paydown 05/01/2025 3137BNGT5 11,558.22 FHMS K-054 A2 2.745 01/25/2026 4.65% 11,558.22 -- 11,558.22 0.01
CONFIDENTIAL | 17
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Principal Paydown 05/15/2025 448979AD6 10,594.82 HART 2023-A A3 4.58 04/15/2027 5.14% 10,594.82 -- 10,594.82 0.00
Principal Paydown 05/15/2025 58770AAC7 5,143.18 MBART 2023-1 A3 4.51 11/15/2027 4.56% 5,143.18 -- 5,143.18 0.00
Principal Paydown 05/15/2025 47800AAC4 9,292.60 JDOT 2022-B A3 3.74 02/16/2027 3.77% 9,292.60 -- 9,292.60 0.00
Principal Paydown 05/15/2025 02582JJT8 185,000.00 AMXCA 2022-2 A 3.39 05/17/2027 3.42% 185,000.00 -- 185,000.00 0.00
Principal Paydown 05/15/2025 47800BAC2 14,157.69 JDOT 2022-C A3 5.09 06/15/2027 3.29% 14,157.69 -- 14,157.69 (0.00)
Principal Paydown 05/15/2025 89238FAD5 4,868.62 TAOT 2022-B A3 2.93 09/15/2026 3.09% 4,868.62 -- 4,868.62 (0.00)
Principal Paydown 05/15/2025 47787JAC2 4,839.03 JDOT 2022 A3 2.32 09/15/2026 2.34% 4,839.03 -- 4,839.03 0.00
Principal Paydown 05/15/2025 43815BAC4 6,665.61 HAROT 2022-1 A3 1.88 05/15/2026 1.89% 6,665.61 -- 6,665.61 0.00
Principal Paydown 05/15/2025 89238JAC9 1,416.71 TAOT 2021-D A3 0.71 04/15/2026 0.95% 1,416.71 -- 1,416.71 0.00
Principal Paydown 05/16/2025 362583AD8 7,094.54 GMCAR 2023-2 A3 4.47 02/16/2028 4.51% 7,094.54 -- 7,094.54 (0.00)
Principal Paydown 05/16/2025 36265WAD5 4,687.17 GMCAR 2022-3 A3 3.64 04/16/2027 3.93% 4,687.17 -- 4,687.17 0.00
Principal Paydown 05/18/2025 43815PAC3 5,483.79 HAROT 2022-2 A3 3.73 07/20/2026 3.87% 5,483.79 -- 5,483.79 0.00
Principal Paydown 05/20/2025 379929AD4 11,538.50 GMALT 2023-3 A3 5.38 11/20/2026 5.38% 11,538.50 -- 11,538.50 0.00
Principal Paydown 05/21/2025 43815JAC7 4,457.76 HAROT 2023-1 A3 5.04 04/21/2027 5.09% 4,457.76 -- 4,457.76 0.00
Principal Paydown 05/21/2025 43815GAC3 1,480.54 HAROT 2021-4 A3 0.88 01/21/2026 0.89% 1,480.54 -- 1,480.54 (0.01)
Principal Paydown 05/25/2025 05602RAD3 11,490.98 BMWOT 2022-A A3 3.21 08/25/2026 4.81% 11,490.98 -- 11,490.98 (0.00)
Total Principal
Paydown 299,769.76 299,769.76 -- 299,769.76 0.01
CONFIDENTIAL | 18
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

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

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
31846V203 FIRST AMER:GVT OBLG Y
102,271.46
347,851.21
411,280.95
(656,860.70)
102,271.46

0.00 1,391.20

0.00 0.00

0.00 1,391.20
1,391.20
CCYUSD Payable

0.00 (104,988.27)

0.00 0.00

0.00 0.00
CCYUSD Receivable
413,247.51
21,573.52

0.00 0.00
413,247.51

0.00 0.00

0.00 Total Cash & Equivalents 515,518.97
264,436.46
411,280.95
(656,860.70)
515,518.97

0.00 1,391.20

0.00 0.00

0.00 1,391.20 1,391.20

FIXED INCOME
02582JJT8 AMXCA 2022-2 A 3.39
05/17/2027
05/17/2022
05/24/2022

0.00 184,999.26

0.00 (185,000.00)

0.00 278.73
522.63

0.00 243.90

0.74 0.00

0.74 244.63
244.63
02582JJZ4 AMXCA 2023-1 A 4.87
05/15/2026
06/07/2023
06/14/2023
125,000.00
124,994.91

0.00 0.00
124,995.32
270.56
507.29
270.56
507.29

0.42 0.00

0.42 507.71
507.71
02582JKD1 AMXCA 2023-3 A 5.23
09/15/2028
09/12/2023
09/19/2023
340,000.00
339,989.72

0.00 0.00
339,989.98
790.31
1,481.83
790.31
1,481.83

0.26 0.00

0.26 1,482.09
1,482.09
037833BY5 APPLE INC 3.25 02/23/2026
05/09/2023
05/11/2023
400,000.00
397,564.53

0.00 0.00
397,817.88
2,455.56

0.00 3,538.89
1,083.33
253.35

0.00 (11,490.98)
36,488.25

25.84 129.20

19.69 123.05
129.50

0.00 129.50
252.55
252.55
06428CAA2 BANK OF AMERICA NA 5.526
08/18/2026
09/19/2023
09/21/2023
300,000.00
299,677.31

0.00 0.00
299,698.41
3,361.65

0.00 4,743.15
1,381.50

21.10 0.00

21.10 1,402.60
1,402.60
096924AD7 BMWOT 2025-A A3 4.56
09/25/2029
02/04/2025
02/12/2025
220,000.00
219,979.33

0.00 0.00
219,979.73
167.20
836.00
167.20
836.00

0.40 0.00

0.40 836.40
836.40
14913UAL4

CATERPILLAR FINANCIAL
SERVICES CORP 5.0
05/14/2027
05/21/2024
05/23/2024
405,000.00
405,508.73

0.00 0.00
405,487.50
9,393.75
10,125.00
956.25
1,687.50

0.00 (21.23)
(21.23)
1,666.27
1,666.27
161571HT4 CHAIT 2023-1 A 5.16
09/15/2028
09/07/2023
09/15/2023
340,000.00
339,936.39

0.00 0.00
339,937.99
779.73
1,462.00
779.73
1,462.00

1.60 0.00

1.60 1,463.60
1,463.60
17275RBQ4 CISCO SYSTEMS INC 4.8
02/26/2027
02/21/2024
02/26/2024
170,000.00
169,865.71

0.00 0.00
169,871.96
1,473.33

0.00 2,153.33
680.00

6.25 0.00

6.25 686.25
686.25
20030NCS8 COMCAST CORP 3.95
10/15/2025
03/11/2024
03/13/2024
400,000.00
398,255.84

0.00 0.00
398,579.61
702.22

0.00 2,018.89
1,316.67
323.77

0.00 323.77
1,640.43
1,640.43
24422EXZ7 JOHN DEERE CAPITAL CORP

4.65 01/07/2028
01/06/2025
01/09/2025
280,000.00
279,924.61

0.00 0.00
279,926.99
4,050.67

0.00 5,135.67
1,085.00

2.38 0.00

2.38 1,087.38
1,087.38
26444HAH4 DUKE ENERGY FLORIDA LLC

2.5 12/01/2029
12/16/2024
12/17/2024
450,000.00
409,618.16

0.00 0.00
410,365.52
4,687.50

0.00 5,625.00
937.50
747.37

4.5 03/10/2028
03/21/2023
03/22/2023
700,000.00
709,087.69

0.00 0.00
708,817.84
4,462.50

0.00 7,087.50
2,625.00

0.00 (269.85)
(269.85)
2,355.15
2,355.15
3130B3A29 FEDERAL HOME LOAN BANKS

4.0 10/09/2026
10/21/2024
10/22/2024
600,000.00
599,995.60

0.00 0.00
599,995.86
1,466.67

0.00 3,466.67
2,000.00

0.26 0.00

0.26 2,000.26
2,000.26
3133EPN50

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.25
12/15/2028
12/28/2023
12/29/2023
650,000.00
657,723.09

0.00 0.00
657,542.26
10,436.11

0.00 12,738.19
2,302.08

0.00 (180.83)
(180.83)
2,121.26
2,121.26
3133ERFJ5

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.5
05/20/2027
05/23/2024
05/24/2024
330,000.00
328,169.45

0.00 0.00
328,245.21
6,641.25
7,425.00
453.75
1,237.50

75.76 0.00

75.76 1,313.26
1,313.26
3133ERGL9

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.5
06/07/2028
06/25/2024
06/26/2024
450,000.00
450,773.54

0.00 0.00
450,752.37
8,100.00

0.00 9,787.50
1,687.50

0.00 (21.16)
(21.16)
1,666.34
1,666.34
3135G06G3

FEDERAL NATIONAL
MORTGAGE ASSOCIATION 0.5
11/07/2025
11/18/2020
11/19/2020
350,000.00
349,962.24

0.00 0.00
349,968.40
845.83
875.00
116.67
145.83

6.16 0.00

6.16 151.99
151.99
3137BNGT5 FHMS K-054 A2 2.745
01/25/2026
02/15/2023
02/21/2023
458,285.32
464,288.47

0.00 (11,558.22)
453,552.50
1,074.77
1,074.77
1,048.33
1,048.33
822.25

0.00 822.25
1,870.58
1,870.58
3137BVZ82 FHMS K-063 A2 3.43
01/25/2027
02/06/2024
02/09/2024
320,000.00
314,647.35

0.00 0.00
314,919.37
914.67
914.67
914.67
914.67
272.02

0.00 272.02
1,186.69
1,186.69
3137FEBQ2 FHMS K-072 A2 3.444
12/25/2027
08/22/2023
08/25/2023
500,000.00
482,094.69

0.00 0.00
482,682.69
1,435.00
1,435.00
1,435.00
1,435.00
587.99

0.00 0.00
454,816.17
1,298.13
1,298.12
1,298.13
1,298.12
334.43

0.00 334.43
1,632.55
1,632.55
3137FHPJ6 FHMS K-080 A2 3.926
07/25/2028
01/23/2024
01/26/2024
325,000.00
319,861.75

0.00 0.00
319,999.43
1,063.29
1,063.29
1,063.29
1,063.29
137.67

0.00 137.67
1,200.96
1,200.96
3137FJEH8 FHMS K-081 A2 3.9
08/25/2028
09/15/2023
09/20/2023
155,000.00
150,612.17

0.00 0.00
150,726.67
503.75
503.75
503.75
503.75
114.50

0.00 114.50
618.25
618.25
3137FJKE8 FHMS K-082 A2 3.92
09/25/2028
09/20/2024
09/25/2024
220,000.00
220,488.43

0.00 0.00
220,476.01
718.67
718.67
718.67
718.67

0.00 (12.42)
(12.42)
706.25
706.25
3137FJXV6 FHMS K-083 A2 4.05
09/25/2028
12/07/2023
12/12/2023
297,000.00
291,900.57

0.00 0.00
292,030.26
1,002.38
1,002.38
1,002.38
1,002.38
129.68

0.00 129.68
1,132.06
1,132.06
3137FJZ93 FHMS K-084 A2 3.78
10/25/2028
10/20/2023
10/25/2023
240,000.00
228,790.69

0.00 0.00
229,068.91
756.00
756.00
756.00
756.00
278.21

0.00 278.21
1,034.21
1,034.21
3137H4BY5 FHMS K-746 A2 2.031
09/25/2028
10/03/2023
10/06/2023
315,000.00
285,051.39

0.00 0.00
285,813.01
533.14
533.14
533.14
533.14
761.61

0.00 761.61
1,294.75
1,294.75
341081GT8 FLORIDA POWER & LIGHT CO

5.15 06/15/2029
09/19/2024
09/20/2024
330,000.00
343,282.05

0.00 0.00
342,997.10
6,420.33

0.00 7,836.58
1,416.25

0.00 (284.94)
(284.94)
1,131.31
1,131.31
362583AD8 GMCAR 2023-2 A3 4.47
02/16/2028
04/04/2023
04/12/2023
88,639.06
95,732.09

0.00 (7,094.54)
88,637.70
178.30
356.61
165.09
343.40

0.15 0.00

0.00 (4,687.17)
28,974.20

51.05 102.11

43.94 95.00

0.01 0.00

0.01 95.01

95.01 362962AD4 GMALT 2025-2 A3 4.58
05/20/2028
05/20/2025
05/29/2025
155,000.00

0.00 154,997.43

0.00 154,997.44

0.00 0.00

39.44 39.44

0.01 0.00

0.01 39.45

39.45 379929AD4 GMALT 2023-3 A3 5.38
11/20/2026
08/08/2023
08/16/2023
52,597.72
64,132.56

0.00 (11,538.50)
52,594.88
105.43
287.54

86.46 268.57

0.82 0.00

0.82 269.39
269.39
38014AAD3 GMCAR 2024-4 A3 4.4
08/16/2029
10/08/2024
10/16/2024
95,000.00
94,983.74

0.00 0.00
94,984.06
174.17
348.33
174.17
348.33

0.32 0.00

0.32 348.65
348.65
437076CR1 HOME DEPOT INC 4.0
09/15/2025
09/12/2022
09/19/2022
110,000.00
109,995.03

0.00 0.00
109,996.16
562.22

0.00 928.89
366.67

1.12 0.00

1.12 367.79
367.79
437076DC3 HOME DEPOT INC 4.75
06/25/2029 295,000.00
295,100.19

0.00 0.00
295,097.77
4,904.38

0.00 6,072.08
1,167.71

15.88 (18.30)
(2.42)
1,165.29
1,165.29
437921AD1 HAROT 252 A3 4.15
10/15/2029
04/29/2025
05/08/2025
105,000.00
104,988.27

0.00 0.00
104,988.44

0.00 0.00
278.40
278.40

0.17 0.00

0.17 278.57
278.57
43815BAC4 HAROT 2022-1 A3 1.88
05/15/2026
02/15/2022
02/23/2022
16,485.98
23,150.81

0.00 (6,665.61)
16,485.47

19.34 36.27

13.78 30.70

0.27 0.00

0.27 30.97

30.97 43815GAC3 HAROT 2021-4 A3 0.88
01/21/2026
11/16/2021
11/24/2021

0.00 1,480.50

0.00 (1,480.55)

0.00 0.36

1.09 0.00

0.73 0.05

0.00 0.05

0.00 (4,457.76)
43,272.39

66.83 200.48

60.59 194.24

0.56 0.00

0.56 194.79
194.79
43815PAC3 HAROT 2022-2 A3 3.73
07/20/2026
08/15/2022
08/24/2022
25,596.68
31,079.99

0.00 (5,483.79)
25,596.31

41.86 96.61

34.48 89.22

0.11 0.00

0.11 89.34

89.34 438516CJ3 HONEYWELL INTERNATIONAL
INC 4.95 02/15/2028
02/13/2023
02/15/2023
400,000.00
404,943.35

0.00 0.00
404,788.40
4,180.00

0.00 5,830.00
1,650.00

0.00 (154.95)
(154.95)
1,495.05
1,495.05
448976AD2 HART 2024-C A3 4.41
05/15/2029
10/08/2024
10/16/2024
140,000.00
139,990.96

0.00 0.00
139,991.15
274.40
514.50
274.40
514.50

0.19 0.00

0.19 514.69
514.69
448979AD6 HART 2023-A A3 4.58
04/15/2027
04/04/2023
04/12/2023
91,030.06
101,620.04

0.00 (10,594.82)
91,025.91
206.86
387.87
185.30
366.30

0.69 0.00

0.69 367.00
367.00
44934QAD3 HART 2024-B A3 4.84
03/15/2029
07/16/2024
07/24/2024
90,000.00
89,988.67

0.00 0.00
89,988.92
193.60
363.00
193.60
363.00

0.25 0.00

0.25 363.25
363.25
459058KT9

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.5 07/12/2028
11/28/2023
11/30/2023
250,000.00
242,637.65

0.00 0.00
242,833.06
2,649.31

0.00 3,378.47
729.17
195.40

0.00 195.40
924.57
924.57
459058KW2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.625 08/01/2028 250,000.00
247,559.13

0.00 0.00
247,622.82
2,890.63

0.00 3,854.17
963.54

63.69 0.00

63.69 1,027.23
1,027.23
459058LK7

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.0 08/27/2026
08/20/2024
08/27/2024
170,000.00
169,869.52

0.00 0.00
169,877.90
1,208.89

0.00 1,775.56
566.67

8.37 0.00

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
10/08/2024
10/16/2024
300,000.00
299,301.47

0.00 0.00
299,314.77
484.38

0.00 1,453.13
968.75

13.29 0.00

13.29 982.04
982.04
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
03/14/2025
03/20/2025
205,000.00
204,284.98

0.00 0.00
204,297.41
963.07

0.00 1,667.76
704.69

12.42 0.00

12.42 717.11
717.11
46625HMN7 JPMORGAN CHASE & CO 3.9
07/15/2025
05/29/2024
05/30/2024
400,000.00
398,676.64

0.00 0.00
399,223.63
4,593.33

0.00 5,893.33
1,300.00
546.99

0.00 546.99
1,846.99
1,846.99
47787CAC7 JDOT 2023-C A3 5.48
05/15/2028
09/12/2023
09/19/2023
310,000.00
309,986.09

0.00 0.00
309,986.48
755.02
1,415.67
755.02
1,415.67

0.39 0.00

0.39 1,416.06
1,416.06
47787JAC2 JDOT 2022 A3 2.32
09/15/2026
03/10/2022
03/16/2022
16,477.44
21,315.14

0.00 (4,839.03)
16,476.47

21.98 41.21

16.99 36.22

0.37 0.00

0.37 36.59

36.59 47800AAC4 JDOT 2022-B A3 3.74
02/16/2027
07/12/2022
07/20/2022
44,695.54
53,986.46

0.00 (9,292.60)
44,694.22

89.74 168.26

74.29 152.81

0.35 0.00

0.35 153.17
153.17
47800BAC2 JDOT 2022-C A3 5.09
06/15/2027
10/12/2022
10/19/2022
107,631.39
121,785.20

0.00 (14,157.69)
107,628.10
275.51
516.59
243.49
484.56

0.59 0.00

0.59 485.15
485.15
57636QAW4 MASTERCARD INC 4.875
03/09/2028
04/19/2023
04/21/2023
290,000.00
295,103.74

0.00 0.00
294,947.71
2,042.08

0.00 3,220.21
1,178.13

0.00 (156.03)
(156.03)
1,022.09
1,022.09
58769GAD5 MBALT 2024-B A3 4.23
02/15/2028
09/17/2024
09/25/2024
130,000.00
129,981.97

0.00 0.00
129,982.52
244.40
458.25
244.40
458.25

0.55 0.00

0.00 (5,143.18)
57,675.99
125.92
236.11
115.62
225.80

0.44 0.00

0.44 226.24
226.24
58933YBH7 MERCK & CO INC 4.05
05/17/2028
05/08/2023
05/17/2023
90,000.00
89,955.63

0.00 0.00
89,956.87
1,660.50
1,822.50
141.75
303.75

1.24 0.00

1.24 304.99
304.99
6174468C6 MORGAN STANLEY 4.0
07/23/2025
04/10/2024
04/12/2024
394,000.00
392,663.21

0.00 0.00
393,162.49
4,290.22

0.00 5,603.56
1,313.33
499.28

0.00 499.28
1,812.62
1,812.62
61747YET8 MORGAN STANLEY 4.679
07/17/2026
07/18/2022
07/20/2022
175,000.00
175,000.00

0.00 0.00
175,000.00
2,365.49

0.00 3,047.85
682.35

0.00 0.00

0.00 682.35
682.35
63743HFE7

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

3.45 06/15/2025
04/27/2022
05/04/2022
95,000.00
94,998.99

0.00 0.00
94,999.68
1,238.17

0.00 1,511.29
273.13

0.70 0.00

0.70 273.82
273.82
63743HFK3

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

5.6 11/13/2026
11/14/2023
11/16/2023
390,000.00
391,829.55

0.00 0.00
391,722.54
10,192.00
10,920.00
1,092.00
1,820.00

0.00 (107.01)
(107.01)
1,712.99
1,712.99
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027
10/05/2022
10/07/2022
450,000.00
444,227.99

0.00 0.00
444,470.12
8,550.00
9,000.00
1,050.00
1,500.00
242.13

0.00 242.13
1,742.13
1,742.13
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029
01/24/2024
01/31/2024
410,000.00
409,498.50

0.00 0.00
409,509.84
4,767.39

0.00 6,339.06
1,571.67

11.34 0.00

11.34 1,583.01
1,583.01
713448FX1 PEPSICO INC 4.5 07/17/2029
07/15/2024
07/17/2024
295,000.00
294,614.87

0.00 0.00
294,622.63
3,835.00

0.00 4,941.25
1,106.25

7.76 0.00

0.00 0.00
289,206.28
5,550.00
5,550.00
925.00
925.00
314.18

0.00 314.18
1,239.18
1,239.18
78016HZT0 ROYAL BANK OF CANADA

4.875 01/19/2027
01/10/2024
01/19/2024
150,000.00
149,978.51

0.00 0.00
149,979.57
2,071.88

0.00 2,681.25
609.38

1.06 0.00

1.06 610.44
610.44
857477CL5 STATE STREET CORP 4.993
03/18/2027
03/13/2024
03/18/2024
365,000.00
365,000.00

0.00 0.00
365,000.00
2,176.81

0.00 3,695.51
1,518.70

0.00 0.00

0.00 1,518.70
1,518.70
89115A2V3 TORONTO-DOMINION BANK

5.264 12/11/2026
12/04/2023
12/11/2023
160,000.00
160,000.00

0.00 0.00
160,000.00
3,275.38

0.00 3,977.24
701.87

0.00 0.00

0.00 701.87
701.87
89115A2W1 TORONTO-DOMINION BANK

4.98 04/05/2027
04/08/2024
04/10/2024
400,000.00
398,351.74

0.00 0.00
398,424.32
1,438.67

0.00 3,098.67
1,660.00

72.58 0.00

72.58 1,732.58
1,732.58
89236TMF9 TOYOTA MOTOR CREDIT
CORP 5.05 05/16/2029
06/25/2024
06/26/2024
400,000.00
402,374.83

0.00 0.00
402,324.95
9,258.33
10,100.00
841.67
1,683.33

0.00 (49.88)
(49.88)
1,633.46
1,633.46
89238FAD5 TAOT 2022-B A3 2.93
09/15/2026
04/07/2022
04/13/2022
21,360.68
26,229.16

0.00 (4,868.62)
21,360.57

34.16 64.04

27.82 57.70

0.03 0.00

0.03 57.73

57.73 89238JAC9 TAOT 2021-D A3 0.71
04/15/2026
11/09/2021
11/15/2021

0.00 1,416.70

0.00 (1,416.71)

0.00 0.45

0.84 0.00

0.39 0.00

0.00 0.00

0.40 0.40
89239TAD4 TAOT 2024-D A3 4.4
06/15/2029
10/10/2024
10/17/2024
105,000.00
104,994.81

0.00 0.00
104,994.92
205.33
385.00
205.33
385.00

0.11 0.00

2.25 11/15/2027
12/20/2022
12/21/2022
800,000.00
770,773.18

0.00 0.00
771,749.51
8,303.87
9,000.00
831.52
1,527.65
976.33

0.00 976.33
2,503.98
2,503.98
9128284Z0 UNITED STATES TREASURY

2.75 08/31/2025 750,000.00
754,336.52

0.00 0.00
753,234.62
3,474.86

0.00 5,212.30
1,737.43

0.00 (1,101.90)
(1,101.90)
635.53
635.53
9128285M8 UNITED STATES TREASURY

3.125 11/15/2028
04/10/2025
04/11/2025
400,000.00
389,921.40

0.00 0.00
390,162.85
5,766.57
6,250.00
577.45
1,060.87
241.45

0.00 241.45
1,302.32
1,302.32
9128286L9 UNITED STATES TREASURY

2.25 03/31/2026
02/25/2022
02/28/2022
750,000.00
752,256.10

0.00 0.00
752,046.70
1,429.30

0.00 2,858.61
1,429.30

0.00 (209.40)
(209.40)
1,219.91
1,219.91
912828R36 UNITED STATES TREASURY

1.625 05/15/2026
10/14/2021
10/15/2021
250,000.00
251,619.40

0.00 0.00
251,486.94
1,874.14
2,031.25
187.67
344.78

0.00 (132.46)
(132.46)
212.33
212.33
912828U24 UNITED STATES TREASURY 2.0
11/15/2026
03/29/2022
03/30/2022
625,000.00
619,976.65

0.00 0.00
620,253.25
5,766.57
6,250.00
577.45
1,060.87
276.60

0.00 276.60
1,337.47
1,337.47
912828X88 UNITED STATES TREASURY

2.375 05/15/2027
06/09/2022
06/10/2022
350,000.00
345,315.29

0.00 0.00
345,510.49
3,834.77
4,156.25
384.00
705.48
195.20

0.00 195.20
900.68
900.68
912828YB0 UNITED STATES TREASURY

1.625 08/15/2029
09/24/2024
09/25/2024
150,000.00
139,064.33

0.00 0.00
139,280.67
505.01

0.00 713.74
208.74
216.34

0.00 216.34
425.08
425.08
912828YG9 UNITED STATES TREASURY

1.625 09/30/2026
12/28/2021
12/29/2021
300,000.00
301,577.47

0.00 0.00
301,482.88
412.91

0.00 825.82
412.91

0.25 05/31/2025
02/25/2021
02/26/2021

0.00 364,896.85

0.00 (365,000.00)

0.00 381.04

0.00 0.00
(381.04)
103.15

0.00 103.15
(277.89)
(277.89)
91282CAZ4 UNITED STATES TREASURY

0.375 11/30/2025 750,000.00
747,839.24

0.00 0.00
748,153.72
1,174.45

0.00 7.68
(1,166.77)
314.48

0.00 314.48
(852.29)
(852.29)
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027 750,000.00
744,615.31

0.00 0.00
744,854.12
1,588.11

0.00 3,176.23
1,588.11
238.81

0.00 238.81
1,826.92
1,826.92
91282CEU1 UNITED STATES TREASURY

2.875 06/15/2025
07/30/2024
07/31/2024
500,000.00
498,790.47

0.00 0.00
499,623.70
5,410.37

0.00 6,634.62
1,224.24
833.23

0.00 833.23
2,057.48
2,057.48
91282CEY3 UNITED STATES TREASURY 3.0
07/15/2025
03/15/2024
03/18/2024
475,000.00
473,182.87

0.00 0.00
473,933.95
4,172.65

0.00 5,392.96
1,220.30
751.08

0.00 751.08
1,971.39
1,971.39
91282CFK2 UNITED STATES TREASURY 3.5
09/15/2025
03/15/2024
03/18/2024
475,000.00
472,625.61

0.00 0.00
473,162.88
2,123.30

0.00 3,523.78
1,400.48
537.27

0.00 537.27
1,937.75
1,937.75
91282CFM8 UNITED STATES TREASURY

4.125 09/30/2027
10/26/2022
10/27/2022
570,000.00
569,224.95

0.00 0.00
569,252.19
1,991.50

0.00 3,982.99
1,991.50

27.24 0.00

27.24 2,018.74
2,018.74
91282CFP1 UNITED STATES TREASURY

4.25 10/15/2025
06/23/2023
06/26/2023
550,000.00
549,203.16

0.00 0.00
549,351.08
1,021.86

0.00 3,001.71
1,979.85
147.92

0.00 147.92
2,127.77
2,127.77
91282CGA3 UNITED STATES TREASURY 4.0
12/15/2025
11/18/2024
11/19/2024
600,000.00
598,619.64

0.00 0.00
598,807.32
9,032.97

0.00 11,076.92
2,043.96
187.68

3.875 12/31/2027
05/25/2023
05/26/2023
500,000.00
498,777.07

0.00 0.00
498,815.99
6,476.17

0.00 8,135.36
1,659.19

38.92 0.00

38.92 1,698.11
1,698.11
91282CGT2 UNITED STATES TREASURY

3.625 03/31/2028
01/10/2025
01/13/2025
600,000.00
586,487.47

0.00 0.00
586,880.80
1,842.21

0.00 3,684.43
1,842.21
393.32

0.00 393.32
2,235.54
2,235.54
91282CGV7 UNITED STATES TREASURY

3.75 04/15/2026
02/24/2025
02/25/2025
400,000.00
398,287.67

0.00 0.00
398,439.76
655.74

0.00 1,926.23
1,270.49
152.10

0.00 152.10
1,422.59
1,422.59
91282CHB0 UNITED STATES TREASURY

3.625 05/15/2026
03/28/2025
03/31/2025
300,000.00
298,667.57

0.00 0.00
298,776.56
5,016.92
5,437.50
502.38
922.96
108.98

0.00 108.98
1,031.94
1,031.94
91282CHH7 UNITED STATES TREASURY

4.125 06/15/2026
08/26/2024
08/27/2024
475,000.00
475,937.90

0.00 0.00
475,866.99
7,374.57

0.00 9,043.27
1,668.70

0.00 (70.91)
(70.91)
1,597.78
1,597.78
91282CJC6 UNITED STATES TREASURY

4.625 10/15/2026
08/26/2024
08/27/2024
475,000.00
480,131.96

0.00 0.00
479,832.91
960.38

0.00 2,821.12
1,860.74

0.00 (299.04)
(299.04)
1,561.70
1,561.70
91282CJP7 UNITED STATES TREASURY

4.375 12/15/2026
12/27/2023
12/28/2023
300,000.00
301,591.33

0.00 0.00
301,508.14
4,939.90

0.00 6,057.69
1,117.79

0.00 (83.19)
(83.19)
1,034.60
1,034.60
91282CKZ3 UNITED STATES TREASURY

4.375 07/15/2027
11/18/2024
11/19/2024
1,000,000.00
1,001,721.69

0.00 0.00
1,001,655.39
12,810.77

0.00 16,557.32
3,746.55

0.00 (66.30)
(66.30)
3,680.25
3,680.25
91282CMA6 UNITED STATES TREASURY

4.125 11/30/2029
12/17/2024
12/18/2024
200,000.00
199,009.02

0.00 0.00
199,027.37
3,445.05

0.00 22.54
(3,422.51)

18.35 0.00

0.00 0.00
249,811.32
846.99

0.00 1,693.99
846.99

3.32 0.00

3.32 850.31
850.31
91282CMZ1 UNITED STATES TREASURY

3.875 04/30/2030
05/22/2025
05/23/2025
400,000.00

0.00 395,906.25

0.00 395,926.68

0.00 (968.75)
1,347.83
379.08

20.43 0.00

20.43 399.51
399.51
91324PEU2 UNITEDHEALTH GROUP INC

4.25 01/15/2029
02/13/2025
02/14/2025
350,000.00
343,905.34

0.00 0.00
344,044.78
4,379.86

0.00 5,619.44
1,239.58
139.44

0.00 139.44
1,379.02
1,379.02
92348KDY6 VZMT 2025-3 A1A 4.51
03/20/2030
03/25/2025
03/31/2025
255,000.00
254,989.23

0.00 0.00
254,989.41
351.40
958.37
351.40
958.37

0.19 0.00

0.19 958.56
958.56
931142ER0 WALMART INC 1.05
09/17/2026
09/08/2021
09/17/2021
40,000.00
39,979.13

0.00 0.00
39,980.42

51.33 0.00

86.33 35.00

1.28 0.00

1.28 36.28

36.28 931142EW9 WALMART INC 3.9
09/09/2025
09/06/2022
09/09/2022
80,000.00
79,993.31

0.00 0.00
79,994.89
450.67

0.00 710.67
260.00

1.58 0.00

1.58 261.58
261.58
931142FN8 WALMART INC 4.35
04/28/2030
04/23/2025
04/28/2025
310,000.00
309,464.58

0.00 0.00
309,473.69
112.38

0.00 1,236.13
1,123.75

9.10 0.00

9.10 1,132.85
1,132.85
Total Fixed Income 33,620,539.53
33,517,875.35
550,903.68
(664,769.75)
33,413,630.24
272,301.00
109,151.24
261,972.71
98,822.95
12,955.35
(3,334.39)
9,620.96
108,443.91 108,443.91
LAIF
90LAIF$00 Local Agency Investment
Fund State Pool 5,763,408.76
5,763,408.76

0.00 0.00
5,763,408.76

0.00 0.00

0.00 0.00
5,763,408.76

0.00 0.00

0.00 0.00 0.00

LOCAL GOV INVESTMENT
POOL
09CATR$05 CalTrust MTF
726,395.10
7,263,266.79
23,784.74

0.00 7,287,051.53

0.00 23,784.74

0.00 0.00

0.00 23,784.74
23,784.74
90CAMP$00 CAMP
56,943,583.10
56,730,479.26
213,103.84

0.00 56,943,583.10

0.00 213,103.84

0.00 0.00

0.00 213,103.84
213,103.84
90CAMP$06 CAMP
12/31/2023
12/31/2023
1,250,000.00
1,250,000.00

0.00 0.00
1,250,000.00

0.00 0.00

0.00 Total Local Gov Investment
Pool 58,919,978.20
65,243,746.05
236,888.58

0.00 65,480,634.63

0.00 236,888.58

0.00 0.00

0.00 236,888.58 236,888.58
TOTAL PORTFOLIO 98,819,445.46
104,789,466.62
1,199,073.21
(1,321,630.45)
105,173,192.60
272,301.00
347,431.02
261,972.71
337,102.73
12,955.35
(3,334.39)
9,620.96
346,723.69 346,723.69
CONFIDENTIAL | 33
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount JUNE 2025
06/02/2025 Dividend 0.00 20,920.38 20,920.38
06/02/2025 Coupon 26444HAH4 0.00 DUKE ENERGY FLORIDA LLC 2.5 12/01/2029 5,625.00 5,625.00 06/02/2025 Dividend 31846V203 0.00 FIRST AMER:GVT OBLG Y 1,157.31 1,157.31 06/02/2025 Coupon 912828ZT0 0.00 UNITED STATES TREASURY 0.25 05/31/2025 456.25 456.25 06/02/2025 Maturity 912828ZT0 (365,000.00) UNITED STATES TREASURY 0.25 05/31/2025 365,000.00 365,000.00 06/02/2025 Coupon 91282CAZ4 0.00 UNITED STATES TREASURY 0.375 11/30/2025 1,406.25 1,406.25 06/02/2025 Coupon 91282CMA6 0.00 UNITED STATES TREASURY 4.125 11/30/2029 4,125.00 4,125.00 06/09/2025 Coupon 3133ERGL9 450,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 06/07/2028 10,125.00 10,125.00
06/11/2025 Coupon 89115A2V3 160,000.00 TORONTO-DOMINION BANK 5.264 12/11/2026 4,211.20 4,211.20 06/16/2025 Coupon 02582JJZ4 125,000.00 AMXCA 2023-1 A 4.87 05/15/2026 507.29 507.29 06/16/2025 Coupon 02582JKD1 340,000.00 AMXCA 2023-3 A 5.23 09/15/2028 1,481.83 1,481.83 06/16/2025 Coupon 161571HT4 340,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,462.00 1,462.00 06/16/2025 Coupon 3133EPN50 650,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.25 12/15/2028 13,812.50 13,812.50
06/16/2025 Coupon 341081GT8 330,000.00 FLORIDA POWER & LIGHT CO 5.15 06/15/2029 8,497.50 8,497.50 06/16/2025 Coupon 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 332.15 332.15 06/16/2025 Principal Paydown 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 6,461.42 6,461.42 06/16/2025 Coupon 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 92.16 92.16 06/16/2025 Principal Paydown 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 4,273.79 4,273.79 06/16/2025 Coupon 38014AAD3 95,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 348.33 348.33 06/16/2025 Coupon 437921AD1 105,000.00 HAROT 252 A3 4.15 10/15/2029 447.85 447.85 06/16/2025 Coupon 43815BAC4 16,485.98 HAROT 2022-1 A3 1.88 05/15/2026 25.83 25.83 06/16/2025 Principal Paydown 43815BAC4 16,485.98 HAROT 2022-1 A3 1.88 05/15/2026 6,019.71 6,019.71 06/16/2025 Coupon 448976AD2 140,000.00 HART 2024-C A3 4.41 05/15/2029 514.50 514.50 06/16/2025 Coupon 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 347.43 347.43 06/16/2025 Principal Paydown 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 9,380.41 9,380.41 06/16/2025 Coupon 44934QAD3 90,000.00 HART 2024-B A3 4.84 03/15/2029 363.00 363.00 06/16/2025 Coupon 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 1,415.67 1,415.67 06/16/2025 Principal Paydown 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 9,965.93 9,965.93 06/16/2025 Coupon 47787JAC2 16,477.44 JDOT 2022 A3 2.32 09/15/2026 32.71 32.71 CONFIDENTIAL | 34
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/16/2025 Principal Paydown 47787JAC2 16,477.44 JDOT 2022 A3 2.32 09/15/2026 3,332.64 3,332.64 06/16/2025 Coupon 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 139.30 139.30 06/16/2025 Principal Paydown 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 4,431.99 4,431.99 06/16/2025 Coupon 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 456.54 456.54 06/16/2025 Principal Paydown 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 8,980.31 8,980.31 06/16/2025 Coupon 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 458.25 458.25 06/16/2025 Coupon 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 225.93 225.93 06/16/2025 Principal Paydown 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 4,622.78 4,622.78 06/16/2025 Coupon 63743HFE7 95,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 3.45 06/15/2025 1,638.75 1,638.75
06/16/2025 Final Maturity 63743HFE7 95,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 3.45 06/15/2025 95,000.00 95,000.00
06/16/2025 Coupon 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 52.16 52.16 06/16/2025 Principal Paydown 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 4,471.44 4,471.44 06/16/2025 Coupon 89239TAD4 105,000.00 TAOT 2024-D A3 4.4 06/15/2029 385.00 385.00 06/16/2025 Coupon 91282CEU1 500,000.00 UNITED STATES TREASURY 2.875 06/15/2025 7,187.50 7,187.50 06/16/2025 Final Maturity 91282CEU1 500,000.00 UNITED STATES TREASURY 2.875 06/15/2025 500,000.00 500,000.00 06/16/2025 Coupon 91282CGA3 600,000.00 UNITED STATES TREASURY 4.0 12/15/2025 12,000.00 12,000.00 06/16/2025 Coupon 91282CHH7 475,000.00 UNITED STATES TREASURY 4.125 06/15/2026 9,796.88 9,796.88 06/16/2025 Coupon 91282CJP7 300,000.00 UNITED STATES TREASURY 4.375 12/15/2026 6,562.50 6,562.50 06/18/2025 Coupon 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 84.18 84.18 06/18/2025 Principal Paydown 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 4,774.98 4,774.98 06/20/2025 Coupon 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/22/2028 433.10 433.10 06/20/2025 Coupon 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 239.24 239.24 06/20/2025 Principal Paydown 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 9,178.12 9,178.12 06/20/2025 Coupon 92348KDY6 255,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 958.38 958.38 06/23/2025 Coupon 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 187.66 187.66 06/23/2025 Principal Paydown 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 4,213.50 4,213.50 06/25/2025 Coupon 05602RAD3 36,809.95 BMWOT 2022-A A3 3.21 08/25/2026 101.26 101.26 06/25/2025 Principal Paydown 05602RAD3 36,809.95 BMWOT 2022-A A3 3.21 08/25/2026 10,178.71 10,178.71 06/25/2025 Coupon 096924AD7 220,000.00 BMWOT 2025-A A3 4.56 09/25/2029 836.00 836.00 06/25/2025 Coupon 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 1,048.33 1,048.33 CONFIDENTIAL | 35
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/25/2025 Principal Paydown 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 894.14 894.14 06/25/2025 Coupon 3137BVZ82 320,000.00 FHMS K-063 A2 3.43 01/25/2027 914.67 914.67 06/25/2025 Coupon 3137FEBQ2 500,000.00 FHMS K-072 A2 3.444 12/25/2027 1,435.00 1,435.00 06/25/2025 Coupon 3137FETN0 465,000.00 FHMS K-073 A2 3.35 01/25/2028 1,298.13 1,298.13 06/25/2025 Coupon 3137FHPJ6 325,000.00 FHMS K-080 A2 3.926 07/25/2028 1,063.29 1,063.29 06/25/2025 Coupon 3137FJEH8 155,000.00 FHMS K-081 A2 3.9 08/25/2028 503.75 503.75 06/25/2025 Coupon 3137FJKE8 220,000.00 FHMS K-082 A2 3.92 09/25/2028 718.67 718.67 06/25/2025 Coupon 3137FJXV6 297,000.00 FHMS K-083 A2 4.05 09/25/2028 1,002.38 1,002.38 06/25/2025 Coupon 3137FJZ93 240,000.00 FHMS K-084 A2 3.78 10/25/2028 756.00 756.00 06/25/2025 Coupon 3137H4BY5 315,000.00 FHMS K-746 A2 2.031 09/25/2028 533.14 533.14 06/25/2025 Coupon 437076DC3 295,000.00 HOME DEPOT INC 4.75 06/25/2029 7,006.25 7,006.25 06/30/2025 Coupon 91282CGC9 500,000.00 UNITED STATES TREASURY 3.875 12/31/2027 9,687.50 9,687.50 June 2025 Total 1,073,257.56 123,339.16 1,196,596.73
JULY 2025
07/07/2025 Coupon 24422EXZ7 280,000.00 JOHN DEERE CAPITAL CORP 4.65 01/07/2028 6,437.67 6,437.67 07/14/2025 Coupon 459058KT9 250,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.5 07/12/2028 4,375.00 4,375.00
07/15/2025 Coupon 02582JJZ4 125,000.00 AMXCA 2023-1 A 4.87 05/15/2026 507.29 507.29 07/15/2025 Coupon 02582JKD1 340,000.00 AMXCA 2023-3 A 5.23 09/15/2028 1,481.83 1,481.83 07/15/2025 Coupon 161571HT4 340,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,462.00 1,462.00 07/15/2025 Coupon 437921AD1 105,000.00 HAROT 252 A3 4.15 10/15/2029 363.13 363.13 07/15/2025 Coupon 43815BAC4 16,485.98 HAROT 2022-1 A3 1.88 05/15/2026 16.40 16.40 07/15/2025 Principal Paydown 43815BAC4 16,485.98 HAROT 2022-1 A3 1.88 05/15/2026 5,897.30 5,897.30 07/15/2025 Coupon 448976AD2 140,000.00 HART 2024-C A3 4.41 05/15/2029 514.50 514.50 07/15/2025 Coupon 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 311.63 311.63 07/15/2025 Principal Paydown 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 9,218.72 9,218.72 07/15/2025 Coupon 44934QAD3 90,000.00 HART 2024-B A3 4.84 03/15/2029 363.00 363.00 07/15/2025 Coupon 46625HMN7 400,000.00 JPMORGAN CHASE & CO 3.9 07/15/2025 7,800.00 7,800.00 07/15/2025 Final Maturity 46625HMN7 400,000.00 JPMORGAN CHASE & CO 3.9 07/15/2025 400,000.00 400,000.00 07/15/2025 Coupon 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 1,370.16 1,370.16 07/15/2025 Principal Paydown 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 21,524.08 21,524.08 07/15/2025 Coupon 47787JAC2 16,477.44 JDOT 2022 A3 2.32 09/15/2026 26.26 26.26 CONFIDENTIAL | 36
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/15/2025 Principal Paydown 47787JAC2 16,477.44 JDOT 2022 A3 2.32 09/15/2026 3,946.54 3,946.54 07/15/2025 Coupon 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 125.49 125.49 07/15/2025 Principal Paydown 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 3,853.31 3,853.31 07/15/2025 Coupon 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 418.45 418.45 07/15/2025 Principal Paydown 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 10,059.85 10,059.85 07/15/2025 Coupon 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 458.25 458.25 07/15/2025 Coupon 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 208.55 208.55 07/15/2025 Principal Paydown 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 4,530.66 4,530.66 07/15/2025 Coupon 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 41.24 41.24 07/15/2025 Principal Paydown 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 4,379.45 4,379.45 07/15/2025 Coupon 89239TAD4 105,000.00 TAOT 2024-D A3 4.4 06/15/2029 385.00 385.00 07/15/2025 Dividend 90LAIF$00 5,763,408.76 Local Agency Investment Fund State Pool 20,182.32 20,182.32 07/15/2025 Coupon 91282CEY3 475,000.00 UNITED STATES TREASURY 3.0 07/15/2025 7,125.00 7,125.00 07/15/2025 Final Maturity 91282CEY3 475,000.00 UNITED STATES TREASURY 3.0 07/15/2025 475,000.00 475,000.00 07/15/2025 Coupon 91282CKZ3 1,000,000.00 UNITED STATES TREASURY 4.375 07/15/2027 21,875.00 21,875.00 07/15/2025 Coupon 91324PEU2 350,000.00 UNITEDHEALTH GROUP INC 4.25 01/15/2029 7,437.50 7,437.50 07/16/2025 Coupon 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 308.08 308.08 07/16/2025 Principal Paydown 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 6,330.50 6,330.50 07/16/2025 Coupon 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 79.20 79.20 07/16/2025 Principal Paydown 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 4,180.32 4,180.32 07/16/2025 Coupon 38014AAD3 95,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 348.33 348.33 07/17/2025 Coupon 61747YET8 175,000.00 MORGAN STANLEY 4.679 07/17/2026 4,094.13 4,094.13 07/17/2025 Effective Maturity 61747YET8 175,000.00 MORGAN STANLEY 4.679 07/17/2026 175,000.00 175,000.00 07/17/2025 Coupon 713448FX1 295,000.00 PEPSICO INC 4.5 07/17/2029 6,637.50 6,637.50 07/18/2025 Coupon 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 69.34 69.34 07/18/2025 Principal Paydown 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 4,656.33 4,656.33 07/21/2025 Coupon 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/22/2028 618.71 618.71 07/21/2025 Coupon 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 198.09 198.09 07/21/2025 Principal Paydown 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 8,777.58 8,777.58 07/21/2025 Coupon 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 169.96 169.96 07/21/2025 Principal Paydown 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 4,113.65 4,113.65 07/21/2025 Coupon 78016HZT0 150,000.00 ROYAL BANK OF CANADA 4.875 01/19/2027 3,656.25 3,656.25 CONFIDENTIAL | 37
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/21/2025 Coupon 92348KDY6 255,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 958.38 958.38 07/23/2025 Coupon 6174468C6 394,000.00 MORGAN STANLEY 4.0 07/23/2025 7,880.00 7,880.00 07/23/2025 Final Maturity 6174468C6 394,000.00 MORGAN STANLEY 4.0 07/23/2025 394,000.00 394,000.00 07/25/2025 Coupon 05602RAD3 36,809.95 BMWOT 2022-A A3 3.21 08/25/2026 74.03 74.03 07/25/2025 Principal Paydown 05602RAD3 36,809.95 BMWOT 2022-A A3 3.21 08/25/2026 9,906.79 9,906.79 07/25/2025 Coupon 096924AD7 220,000.00 BMWOT 2025-A A3 4.56 09/25/2029 836.00 836.00 07/25/2025 Coupon 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 1,046.28 1,046.28 07/25/2025 Principal Paydown 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 10,091.52 10,091.52 07/25/2025 Coupon 3137BVZ82 320,000.00 FHMS K-063 A2 3.43 01/25/2027 914.67 914.67 07/25/2025 Coupon 3137FEBQ2 500,000.00 FHMS K-072 A2 3.444 12/25/2027 1,435.00 1,435.00 07/25/2025 Coupon 3137FETN0 465,000.00 FHMS K-073 A2 3.35 01/25/2028 1,298.13 1,298.13 07/25/2025 Coupon 3137FHPJ6 325,000.00 FHMS K-080 A2 3.926 07/25/2028 1,063.29 1,063.29 07/25/2025 Coupon 3137FJEH8 155,000.00 FHMS K-081 A2 3.9 08/25/2028 503.75 503.75 07/25/2025 Coupon 3137FJKE8 220,000.00 FHMS K-082 A2 3.92 09/25/2028 718.67 718.67 07/25/2025 Coupon 3137FJXV6 297,000.00 FHMS K-083 A2 4.05 09/25/2028 1,002.38 1,002.38 07/25/2025 Coupon 3137FJZ93 240,000.00 FHMS K-084 A2 3.78 10/25/2028 756.00 756.00 07/25/2025 Coupon 3137H4BY5 315,000.00 FHMS K-746 A2 2.031 09/25/2028 533.14 533.14 07/31/2025 Coupon 69371RS80 410,000.00 PACCAR FINANCIAL CORP 4.6 01/31/2029 9,430.00 9,430.00 July 2025 Total 1,575,648.91 107,732.63 1,683,381.54
AUGUST 2025
08/01/2025 Coupon 459058KW2 250,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.625 08/01/2028 5,781.25 5,781.25
08/15/2025 Coupon 02582JJZ4 125,000.00 AMXCA 2023-1 A 4.87 05/15/2026 507.29 507.29 08/15/2025 Coupon 02582JKD1 340,000.00 AMXCA 2023-3 A 5.23 09/15/2028 1,481.83 1,481.83 08/15/2025 Coupon 161571HT4 340,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,462.00 1,462.00 08/15/2025 Coupon 437921AD1 105,000.00 HAROT 252 A3 4.15 10/15/2029 363.13 363.13 08/15/2025 Coupon 43815BAC4 16,485.98 HAROT 2022-1 A3 1.88 05/15/2026 7.16 7.16 08/15/2025 Effective Maturity 43815BAC4 16,485.98 HAROT 2022-1 A3 1.88 05/15/2026 4,568.97 4,568.97 08/15/2025 Coupon 438516CJ3 400,000.00 HONEYWELL INTERNATIONAL INC 4.95 02/15/2028 9,900.00 9,900.00
08/15/2025 Coupon 448976AD2 140,000.00 HART 2024-C A3 4.41 05/15/2029 514.50 514.50 08/15/2025 Coupon 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 276.44 276.44 CONFIDENTIAL | 38
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/15/2025 Principal Paydown 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 8,962.30 8,962.30 08/15/2025 Coupon 44934QAD3 90,000.00 HART 2024-B A3 4.84 03/15/2029 363.00 363.00 08/15/2025 Coupon 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 1,271.86 1,271.86 08/15/2025 Principal Paydown 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 16,343.45 16,343.45 08/15/2025 Coupon 47787JAC2 16,477.44 JDOT 2022 A3 2.32 09/15/2026 18.63 18.63 08/15/2025 Principal Paydown 47787JAC2 16,477.44 JDOT 2022 A3 2.32 09/15/2026 3,575.76 3,575.76 08/15/2025 Coupon 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 113.48 113.48 08/15/2025 Principal Paydown 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 3,605.70 3,605.70 08/15/2025 Coupon 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 375.77 375.77 08/15/2025 Principal Paydown 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 9,700.55 9,700.55 08/15/2025 Coupon 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 458.25 458.25 08/15/2025 Coupon 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 191.52 191.52 08/15/2025 Principal Paydown 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 4,024.97 4,024.97 08/15/2025 Coupon 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 30.54 30.54 08/15/2025 Principal Paydown 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 4,260.91 4,260.91 08/15/2025 Coupon 89239TAD4 105,000.00 TAOT 2024-D A3 4.4 06/15/2029 385.00 385.00 08/15/2025 Coupon 912828YB0 150,000.00 UNITED STATES TREASURY 1.625 08/15/2029 1,218.75 1,218.75 08/18/2025 Coupon 06428CAA2 300,000.00 BANK OF AMERICA NA 5.526 08/18/2026 8,289.00 8,289.00 08/18/2025 Coupon 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 284.50 284.50 08/18/2025 Principal Paydown 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 6,139.10 6,139.10 08/18/2025 Coupon 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 66.52 66.52 08/18/2025 Principal Paydown 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 4,052.86 4,052.86 08/18/2025 Coupon 38014AAD3 95,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 348.33 348.33 08/18/2025 Coupon 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 54.86 54.86 08/18/2025 Principal Paydown 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 4,514.00 4,514.00 08/20/2025 Coupon 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/22/2028 618.71 618.71 08/20/2025 Coupon 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 158.74 158.74 08/20/2025 Principal Paydown 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 8,385.06 8,385.06 08/20/2025 Coupon 92348KDY6 255,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 958.38 958.38 08/21/2025 Coupon 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 152.69 152.69 08/21/2025 Principal Paydown 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 3,988.08 3,988.08 08/25/2025 Coupon 037833BY5 400,000.00 APPLE INC 3.25 02/23/2026 6,500.00 6,500.00 CONFIDENTIAL | 39
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/25/2025 Coupon 05602RAD3 36,809.95 BMWOT 2022-A A3 3.21 08/25/2026 47.53 47.53 08/25/2025 Principal Paydown 05602RAD3 36,809.95 BMWOT 2022-A A3 3.21 08/25/2026 9,580.17 9,580.17 08/25/2025 Coupon 096924AD7 220,000.00 BMWOT 2025-A A3 4.56 09/25/2029 836.00 836.00 08/25/2025 Coupon 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 1,023.20 1,023.20 08/25/2025 Principal Paydown 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 875.39 875.39 08/25/2025 Coupon 3137BVZ82 320,000.00 FHMS K-063 A2 3.43 01/25/2027 914.67 914.67 08/25/2025 Coupon 3137FEBQ2 500,000.00 FHMS K-072 A2 3.444 12/25/2027 1,435.00 1,435.00 08/25/2025 Coupon 3137FETN0 465,000.00 FHMS K-073 A2 3.35 01/25/2028 1,298.13 1,298.13 08/25/2025 Coupon 3137FHPJ6 325,000.00 FHMS K-080 A2 3.926 07/25/2028 1,063.29 1,063.29 08/25/2025 Coupon 3137FJEH8 155,000.00 FHMS K-081 A2 3.9 08/25/2028 503.75 503.75 08/25/2025 Coupon 3137FJKE8 220,000.00 FHMS K-082 A2 3.92 09/25/2028 718.67 718.67 08/25/2025 Coupon 3137FJXV6 297,000.00 FHMS K-083 A2 4.05 09/25/2028 1,002.38 1,002.38 08/25/2025 Coupon 3137FJZ93 240,000.00 FHMS K-084 A2 3.78 10/25/2028 756.00 756.00 08/25/2025 Coupon 3137H4BY5 315,000.00 FHMS K-746 A2 2.031 09/25/2028 533.14 533.14 08/26/2025 Coupon 17275RBQ4 170,000.00 CISCO SYSTEMS INC 4.8 02/26/2027 4,080.00 4,080.00 08/27/2025 Coupon 459058LK7 170,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.0 08/27/2026 3,400.00 3,400.00
August 2025 Total 92,577.29 59,763.89 152,341.18
SEPTEMBER 2025
09/02/2025 Coupon 9128284Z0 750,000.00 UNITED STATES TREASURY 2.75 08/31/2025 10,312.50 10,312.50 09/02/2025 Final Maturity 9128284Z0 750,000.00 UNITED STATES TREASURY 2.75 08/31/2025 750,000.00 750,000.00 09/09/2025 Coupon 57636QAW4 290,000.00 MASTERCARD INC 4.875 03/09/2028 7,068.75 7,068.75 09/09/2025 Coupon 931142EW9 80,000.00 WALMART INC 3.9 09/09/2025 1,560.00 1,560.00 09/09/2025 Final Maturity 931142EW9 80,000.00 WALMART INC 3.9 09/09/2025 80,000.00 80,000.00 09/10/2025 Coupon 3130ATS57 700,000.00 FEDERAL HOME LOAN BANKS 4.5 03/10/2028 15,750.00 15,750.00 09/15/2025 Coupon 02582JJZ4 125,000.00 AMXCA 2023-1 A 4.87 05/15/2026 507.29 507.29 09/15/2025 Coupon 02582JKD1 340,000.00 AMXCA 2023-3 A 5.23 09/15/2028 1,481.83 1,481.83 09/15/2025 Coupon 161571HT4 340,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,462.00 1,462.00 09/15/2025 Coupon 437076CR1 110,000.00 HOME DEPOT INC 4.0 09/15/2025 2,200.00 2,200.00 09/15/2025 Final Maturity 437076CR1 110,000.00 HOME DEPOT INC 4.0 09/15/2025 110,000.00 110,000.00 09/15/2025 Coupon 437921AD1 105,000.00 HAROT 252 A3 4.15 10/15/2029 363.13 363.13 09/15/2025 Coupon 448976AD2 140,000.00 HART 2024-C A3 4.41 05/15/2029 514.50 514.50 CONFIDENTIAL | 40
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/15/2025 Coupon 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 242.24 242.24 09/15/2025 Principal Paydown 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 8,774.24 8,774.24 09/15/2025 Coupon 44934QAD3 90,000.00 HART 2024-B A3 4.84 03/15/2029 363.00 363.00 09/15/2025 Coupon 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 1,197.23 1,197.23 09/15/2025 Principal Paydown 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 13,220.35 13,220.35 09/15/2025 Coupon 47787JAC2 16,477.44 JDOT 2022 A3 2.32 09/15/2026 11.72 11.72 09/15/2025 Principal Paydown 47787JAC2 16,477.44 JDOT 2022 A3 2.32 09/15/2026 3,482.73 3,482.73 09/15/2025 Coupon 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 102.24 102.24 09/15/2025 Principal Paydown 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 3,754.14 3,754.14 09/15/2025 Coupon 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 334.63 334.63 09/15/2025 Principal Paydown 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 8,312.83 8,312.83 09/15/2025 Coupon 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 458.25 458.25 09/15/2025 Coupon 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 176.40 176.40 09/15/2025 Principal Paydown 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 3,906.86 3,906.86 09/15/2025 Coupon 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 20.14 20.14 09/15/2025 Principal Paydown 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 4,167.83 4,167.83 09/15/2025 Coupon 89239TAD4 105,000.00 TAOT 2024-D A3 4.4 06/15/2029 385.00 385.00 09/15/2025 Coupon 91282CFK2 475,000.00 UNITED STATES TREASURY 3.5 09/15/2025 8,312.50 8,312.50 09/15/2025 Final Maturity 91282CFK2 475,000.00 UNITED STATES TREASURY 3.5 09/15/2025 475,000.00 475,000.00 09/16/2025 Coupon 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 261.63 261.63 09/16/2025 Principal Paydown 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 6,012.94 6,012.94 09/16/2025 Coupon 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 54.23 54.23 09/16/2025 Principal Paydown 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 3,964.69 3,964.69 09/16/2025 Coupon 38014AAD3 95,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 348.33 348.33 09/17/2025 Coupon 931142ER0 40,000.00 WALMART INC 1.05 09/17/2026 210.00 210.00 09/18/2025 Coupon 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 40.83 40.83 09/18/2025 Principal Paydown 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 4,400.31 4,400.31 09/18/2025 Coupon 857477CL5 365,000.00 STATE STREET CORP 4.993 03/18/2027 9,112.23 9,112.23 09/22/2025 Coupon 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/22/2028 618.71 618.71 09/22/2025 Coupon 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 121.14 121.14 09/22/2025 Principal Paydown 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 9,653.62 9,653.62 09/22/2025 Coupon 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 135.94 135.94 CONFIDENTIAL | 41
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/22/2025 Principal Paydown 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 3,892.62 3,892.62 09/22/2025 Coupon 459058LR2 205,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 4,228.13 4,228.13
09/22/2025 Coupon 92348KDY6 255,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 958.38 958.38 09/25/2025 Coupon 05602RAD3 36,809.95 BMWOT 2022-A A3 3.21 08/25/2026 21.91 21.91 09/25/2025 Principal Paydown 05602RAD3 36,809.95 BMWOT 2022-A A3 3.21 08/25/2026 8,118.32 8,118.32 09/25/2025 Coupon 096924AD7 220,000.00 BMWOT 2025-A A3 4.56 09/25/2029 836.00 836.00 09/25/2025 Coupon 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 1,021.20 1,021.20 09/25/2025 Principal Paydown 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 876.10 876.10 09/25/2025 Coupon 3137BVZ82 320,000.00 FHMS K-063 A2 3.43 01/25/2027 914.67 914.67 09/25/2025 Coupon 3137FEBQ2 500,000.00 FHMS K-072 A2 3.444 12/25/2027 1,435.00 1,435.00 09/25/2025 Coupon 3137FETN0 465,000.00 FHMS K-073 A2 3.35 01/25/2028 1,298.13 1,298.13 09/25/2025 Coupon 3137FHPJ6 325,000.00 FHMS K-080 A2 3.926 07/25/2028 1,063.29 1,063.29 09/25/2025 Coupon 3137FJEH8 155,000.00 FHMS K-081 A2 3.9 08/25/2028 503.75 503.75 09/25/2025 Coupon 3137FJKE8 220,000.00 FHMS K-082 A2 3.92 09/25/2028 718.67 718.67 09/25/2025 Coupon 3137FJXV6 297,000.00 FHMS K-083 A2 4.05 09/25/2028 1,002.38 1,002.38 09/25/2025 Coupon 3137FJZ93 240,000.00 FHMS K-084 A2 3.78 10/25/2028 756.00 756.00 09/25/2025 Coupon 3137H4BY5 315,000.00 FHMS K-746 A2 2.031 09/25/2028 533.14 533.14 09/30/2025 Coupon 9128286L9 750,000.00 UNITED STATES TREASURY 2.25 03/31/2026 8,437.50 8,437.50 09/30/2025 Coupon 912828YG9 300,000.00 UNITED STATES TREASURY 1.625 09/30/2026 2,437.50 2,437.50 09/30/2025 Coupon 91282CEF4 750,000.00 UNITED STATES TREASURY 2.5 03/31/2027 9,375.00 9,375.00 09/30/2025 Coupon 91282CFM8 570,000.00 UNITED STATES TREASURY 4.125 09/30/2027 11,756.25 11,756.25 09/30/2025 Coupon 91282CGT2 600,000.00 UNITED STATES TREASURY 3.625 03/31/2028 10,875.00 10,875.00 09/30/2025 Coupon 91282CMU2 250,000.00 UNITED STATES TREASURY 4.0 03/31/2030 5,000.00 5,000.00 September 2025
Total 1,497,537.58 126,898.24 1,624,435.82
OCTOBER 2025
10/06/2025 Coupon 89115A2W1 400,000.00 TORONTO-DOMINION BANK 4.98 04/05/2027 9,960.00 9,960.00 10/09/2025 Coupon 3130B3A29 600,000.00 FEDERAL HOME LOAN BANKS 4.0 10/09/2026 12,000.00 12,000.00 10/15/2025 Coupon 02582JJZ4 125,000.00 AMXCA 2023-1 A 4.87 05/15/2026 507.29 507.29 10/15/2025 Coupon 02582JKD1 340,000.00 AMXCA 2023-3 A 5.23 09/15/2028 1,481.83 1,481.83 10/15/2025 Coupon 161571HT4 340,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,462.00 1,462.00 CONFIDENTIAL | 42
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/15/2025 Coupon 20030NCS8 400,000.00 COMCAST CORP 3.95 10/15/2025 7,900.00 7,900.00 10/15/2025 Final Maturity 20030NCS8 400,000.00 COMCAST CORP 3.95 10/15/2025 400,000.00 400,000.00 10/15/2025 Coupon 437921AD1 105,000.00 HAROT 252 A3 4.15 10/15/2029 363.13 363.13 10/15/2025 Coupon 448976AD2 140,000.00 HART 2024-C A3 4.41 05/15/2029 514.50 514.50 10/15/2025 Coupon 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 208.75 208.75 10/15/2025 Principal Paydown 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 8,436.58 8,436.58 10/15/2025 Coupon 44934QAD3 90,000.00 HART 2024-B A3 4.84 03/15/2029 363.00 363.00 10/15/2025 Coupon 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 1,136.85 1,136.85 10/15/2025 Principal Paydown 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 15,451.39 15,451.39 10/15/2025 Coupon 47787JAC2 16,477.44 JDOT 2022 A3 2.32 09/15/2026 4.99 4.99 10/15/2025 Effective Maturity 47787JAC2 16,477.44 JDOT 2022 A3 2.32 09/15/2026 2,578.79 2,578.79 10/15/2025 Coupon 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 90.54 90.54 10/15/2025 Principal Paydown 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 4,394.14 4,394.14 10/15/2025 Coupon 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 299.37 299.37 10/15/2025 Principal Paydown 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 6,204.71 6,204.71 10/15/2025 Coupon 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 458.25 458.25 10/15/2025 Coupon 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 161.71 161.71 10/15/2025 Principal Paydown 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 3,757.64 3,757.64 10/15/2025 Coupon 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 9.96 9.96 10/15/2025 Principal Paydown 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 4,002.27 4,002.27 10/15/2025 Coupon 89239TAD4 105,000.00 TAOT 2024-D A3 4.4 06/15/2029 385.00 385.00 10/15/2025 Coupon 91282CFP1 550,000.00 UNITED STATES TREASURY 4.25 10/15/2025 11,687.50 11,687.50 10/15/2025 Final Maturity 91282CFP1 550,000.00 UNITED STATES TREASURY 4.25 10/15/2025 550,000.00 550,000.00 10/15/2025 Coupon 91282CGV7 400,000.00 UNITED STATES TREASURY 3.75 04/15/2026 7,500.00 7,500.00 10/15/2025 Coupon 91282CJC6 475,000.00 UNITED STATES TREASURY 4.625 10/15/2026 10,984.38 10,984.38 10/16/2025 Coupon 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 239.24 239.24 10/16/2025 Principal Paydown 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 5,774.25 5,774.25 10/16/2025 Coupon 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 42.20 42.20 10/16/2025 Principal Paydown 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 3,713.37 3,713.37 10/16/2025 Coupon 38014AAD3 95,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 348.33 348.33 10/16/2025 Coupon 459058LN1 300,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 5,812.50 5,812.50
CONFIDENTIAL | 43
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/20/2025 Coupon 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/22/2028 618.71 618.71 10/20/2025 Coupon 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 77.86 77.86 10/20/2025 Principal Paydown 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 9,033.36 9,033.36 10/20/2025 Coupon 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 27.15 27.15 10/20/2025 Principal Paydown 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 4,241.79 4,241.79 10/20/2025 Coupon 92348KDY6 255,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 958.38 958.38 10/21/2025 Coupon 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 119.59 119.59 10/21/2025 Principal Paydown 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 3,748.22 3,748.22 10/27/2025 Coupon 05602RAD3 36,809.95 BMWOT 2022-A A3 3.21 08/25/2026 0.19 0.19 10/27/2025 Effective Maturity 05602RAD3 36,809.95 BMWOT 2022-A A3 3.21 08/25/2026 70.83 70.83 10/27/2025 Coupon 096924AD7 220,000.00 BMWOT 2025-A A3 4.56 09/25/2029 836.00 836.00 10/27/2025 Coupon 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 1,019.19 1,019.19 10/27/2025 Principal Paydown 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 17,480.69 17,480.69 10/27/2025 Coupon 3137BVZ82 320,000.00 FHMS K-063 A2 3.43 01/25/2027 914.67 914.67 10/27/2025 Coupon 3137FEBQ2 500,000.00 FHMS K-072 A2 3.444 12/25/2027 1,435.00 1,435.00 10/27/2025 Coupon 3137FETN0 465,000.00 FHMS K-073 A2 3.35 01/25/2028 1,298.13 1,298.13 10/27/2025 Coupon 3137FHPJ6 325,000.00 FHMS K-080 A2 3.926 07/25/2028 1,063.29 1,063.29 10/27/2025 Coupon 3137FJEH8 155,000.00 FHMS K-081 A2 3.9 08/25/2028 503.75 503.75 10/27/2025 Coupon 3137FJKE8 220,000.00 FHMS K-082 A2 3.92 09/25/2028 718.67 718.67 10/27/2025 Coupon 3137FJXV6 297,000.00 FHMS K-083 A2 4.05 09/25/2028 1,002.38 1,002.38 10/27/2025 Coupon 3137FJZ93 240,000.00 FHMS K-084 A2 3.78 10/25/2028 756.00 756.00 10/27/2025 Coupon 3137H4BY5 315,000.00 FHMS K-746 A2 2.031 09/25/2028 533.14 533.14 10/28/2025 Coupon 931142FN8 310,000.00 WALMART INC 4.35 04/28/2030 6,742.50 6,742.50 10/31/2025 Coupon 91282CMZ1 400,000.00 UNITED STATES TREASURY 3.875 04/30/2030 7,750.00 7,750.00 October 2025 Total 1,038,888.04 100,295.90 1,139,183.94 NOVEMBER 2025
11/03/2025 Coupon 74456QBU9 300,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.7 05/01/2028 5,550.00 5,550.00
11/07/2025 Coupon 3135G06G3 350,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

0.5 11/07/2025 875.00 875.00
11/07/2025 Final Maturity 3135G06G3 350,000.00 FEDERAL NATIONAL MORTGAGE ASSOCIATION

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/10/2025 Coupon 665859AW4 450,000.00 NORTHERN TRUST CORP 4.0 05/10/2027 9,000.00 9,000.00 11/13/2025 Coupon 63743HFK3 390,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 5.6 11/13/2026 10,920.00 10,920.00
11/14/2025 Coupon 14913UAL4 405,000.00 CATERPILLAR FINANCIAL SERVICES CORP 5.0 05/14/2027 10,125.00 10,125.00
11/17/2025 Coupon 02582JJZ4 125,000.00 AMXCA 2023-1 A 4.87 05/15/2026 507.29 507.29 11/17/2025 Coupon 02582JKD1 340,000.00 AMXCA 2023-3 A 5.23 09/15/2028 1,481.83 1,481.83 11/17/2025 Coupon 161571HT4 340,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,462.00 1,462.00 11/17/2025 Coupon 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 217.73 217.73 11/17/2025 Principal Paydown 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 4,972.57 4,972.57 11/17/2025 Coupon 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 30.94 30.94 11/17/2025 Principal Paydown 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 3,510.32 3,510.32 11/17/2025 Coupon 38014AAD3 95,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 348.33 348.33 11/17/2025 Coupon 437921AD1 105,000.00 HAROT 252 A3 4.15 10/15/2029 363.13 363.13 11/17/2025 Coupon 448976AD2 140,000.00 HART 2024-C A3 4.41 05/15/2029 514.50 514.50 11/17/2025 Coupon 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 176.55 176.55 11/17/2025 Principal Paydown 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 8,014.89 8,014.89 11/17/2025 Coupon 44934QAD3 90,000.00 HART 2024-B A3 4.84 03/15/2029 363.00 363.00 11/17/2025 Coupon 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 1,066.29 1,066.29 11/17/2025 Principal Paydown 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 16,557.89 16,557.89 11/17/2025 Coupon 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 76.85 76.85 11/17/2025 Principal Paydown 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 4,679.37 4,679.37 11/17/2025 Coupon 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 273.05 273.05 11/17/2025 Principal Paydown 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 6,800.63 6,800.63 11/17/2025 Coupon 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 458.25 458.25 11/17/2025 Coupon 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 147.59 147.59 11/17/2025 Principal Paydown 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 3,676.07 3,676.07 11/17/2025 Coupon 58933YBH7 90,000.00 MERCK & CO INC 4.05 05/17/2028 1,822.50 1,822.50 11/17/2025 Coupon 89236TMF9 400,000.00 TOYOTA MOTOR CREDIT CORP 5.05 05/16/2029 10,100.00 10,100.00 11/17/2025 Coupon 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 0.19 0.19 11/17/2025 Effective Maturity 89238FAD5 21,360.68 TAOT 2022-B A3 2.93 09/15/2026 78.77 78.77 11/17/2025 Coupon 89239TAD4 105,000.00 TAOT 2024-D A3 4.4 06/15/2029 385.00 385.00 CONFIDENTIAL | 45
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/17/2025 Coupon 9128283F5 800,000.00 UNITED STATES TREASURY 2.25 11/15/2027 9,000.00 9,000.00 11/17/2025 Coupon 9128285M8 400,000.00 UNITED STATES TREASURY 3.125 11/15/2028 6,250.00 6,250.00 11/17/2025 Coupon 912828R36 250,000.00 UNITED STATES TREASURY 1.625 05/15/2026 2,031.25 2,031.25 11/17/2025 Coupon 912828U24 625,000.00 UNITED STATES TREASURY 2.0 11/15/2026 6,250.00 6,250.00 11/17/2025 Coupon 912828X88 350,000.00 UNITED STATES TREASURY 2.375 05/15/2027 4,156.25 4,156.25 11/17/2025 Coupon 91282CHB0 300,000.00 UNITED STATES TREASURY 3.625 05/15/2026 5,437.50 5,437.50 11/18/2025 Coupon 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 13.97 13.97 11/18/2025 Principal Paydown 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 4,129.07 4,129.07 11/20/2025 Coupon 3133ERFJ5 330,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 05/20/2027 7,425.00 7,425.00
11/20/2025 Coupon 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/22/2028 618.71 618.71 11/20/2025 Coupon 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 37.36 37.36 11/20/2025 Effective Maturity 379929AD4 52,597.72 GMALT 2023-3 A3 5.38 11/20/2026 8,333.85 8,333.85 11/20/2025 Coupon 92348KDY6 255,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 958.38 958.38 11/21/2025 Coupon 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 103.84 103.84 11/21/2025 Principal Paydown 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 3,294.25 3,294.25 11/25/2025 Coupon 096924AD7 220,000.00 BMWOT 2025-A A3 4.56 09/25/2029 836.00 836.00 11/25/2025 Coupon 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 979.20 979.20 11/25/2025 Principal Paydown 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 18,246.16 18,246.16 11/25/2025 Coupon 3137BVZ82 320,000.00 FHMS K-063 A2 3.43 01/25/2027 914.67 914.67 11/25/2025 Coupon 3137FEBQ2 500,000.00 FHMS K-072 A2 3.444 12/25/2027 1,435.00 1,435.00 11/25/2025 Coupon 3137FETN0 465,000.00 FHMS K-073 A2 3.35 01/25/2028 1,298.13 1,298.13 11/25/2025 Coupon 3137FHPJ6 325,000.00 FHMS K-080 A2 3.926 07/25/2028 1,063.29 1,063.29 11/25/2025 Coupon 3137FJEH8 155,000.00 FHMS K-081 A2 3.9 08/25/2028 503.75 503.75 11/25/2025 Coupon 3137FJKE8 220,000.00 FHMS K-082 A2 3.92 09/25/2028 718.67 718.67 11/25/2025 Coupon 3137FJXV6 297,000.00 FHMS K-083 A2 4.05 09/25/2028 1,002.38 1,002.38 11/25/2025 Coupon 3137FJZ93 240,000.00 FHMS K-084 A2 3.78 10/25/2028 756.00 756.00 11/25/2025 Coupon 3137H4BY5 315,000.00 FHMS K-746 A2 2.031 09/25/2028 533.14 533.14 November 2025
Total 432,293.85 108,587.50 540,881.34
DECEMBER 2025
12/01/2025 Coupon 26444HAH4 450,000.00 DUKE ENERGY FLORIDA LLC 2.5 12/01/2029 5,625.00 5,625.00 CONFIDENTIAL | 46
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/01/2025 Coupon 91282CAZ4 750,000.00 UNITED STATES TREASURY 0.375 11/30/2025 1,406.25 1,406.25 12/01/2025 Final Maturity 91282CAZ4 750,000.00 UNITED STATES TREASURY 0.375 11/30/2025 750,000.00 750,000.00 12/01/2025 Coupon 91282CMA6 200,000.00 UNITED STATES TREASURY 4.125 11/30/2029 4,125.00 4,125.00 12/08/2025 Coupon 3133ERGL9 450,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.5 06/07/2028 10,125.00 10,125.00
12/11/2025 Coupon 89115A2V3 160,000.00 TORONTO-DOMINION BANK 5.264 12/11/2026 4,211.20 4,211.20 12/15/2025 Coupon 02582JJZ4 125,000.00 AMXCA 2023-1 A 4.87 05/15/2026 507.29 507.29 12/15/2025 Coupon 02582JKD1 340,000.00 AMXCA 2023-3 A 5.23 09/15/2028 1,481.83 1,481.83 12/15/2025 Coupon 161571HT4 340,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,462.00 1,462.00 12/15/2025 Coupon 3133EPN50 650,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.25 12/15/2028 13,812.50 13,812.50
12/15/2025 Coupon 341081GT8 330,000.00 FLORIDA POWER & LIGHT CO 5.15 06/15/2029 8,497.50 8,497.50 12/15/2025 Coupon 437921AD1 105,000.00 HAROT 252 A3 4.15 10/15/2029 363.13 363.13 12/15/2025 Coupon 448976AD2 140,000.00 HART 2024-C A3 4.41 05/15/2029 514.50 514.50 12/15/2025 Coupon 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 145.96 145.96 12/15/2025 Principal Paydown 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 7,230.57 7,230.57 12/15/2025 Coupon 44934QAD3 90,000.00 HART 2024-B A3 4.84 03/15/2029 363.00 363.00 12/15/2025 Coupon 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 990.68 990.68 12/15/2025 Principal Paydown 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 12,296.01 12,296.01 12/15/2025 Coupon 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 62.26 62.26 12/15/2025 Principal Paydown 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 3,491.21 3,491.21 12/15/2025 Coupon 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 244.20 244.20 12/15/2025 Principal Paydown 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 5,530.93 5,530.93 12/15/2025 Coupon 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 458.25 458.25 12/15/2025 Coupon 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 133.78 133.78 12/15/2025 Principal Paydown 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 3,499.67 3,499.67 12/15/2025 Coupon 89239TAD4 105,000.00 TAOT 2024-D A3 4.4 06/15/2029 385.00 385.00 12/15/2025 Coupon 91282CGA3 600,000.00 UNITED STATES TREASURY 4.0 12/15/2025 12,000.00 12,000.00 12/15/2025 Final Maturity 91282CGA3 600,000.00 UNITED STATES TREASURY 4.0 12/15/2025 600,000.00 600,000.00 12/15/2025 Coupon 91282CHH7 475,000.00 UNITED STATES TREASURY 4.125 06/15/2026 9,796.88 9,796.88 12/15/2025 Coupon 91282CJP7 300,000.00 UNITED STATES TREASURY 4.375 12/15/2026 6,562.50 6,562.50 12/16/2025 Coupon 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 199.20 199.20 CONFIDENTIAL | 47
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/16/2025 Principal Paydown 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 4,398.17 4,398.17 12/16/2025 Coupon 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 20.29 20.29 12/16/2025 Principal Paydown 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 3,337.59 3,337.59 12/16/2025 Coupon 38014AAD3 95,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 348.33 348.33 12/18/2025 Coupon 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 1.14 1.14 12/18/2025 Effective Maturity 43815PAC3 25,596.68 HAROT 2022-2 A3 3.73 07/20/2026 365.31 365.31 12/22/2025 Coupon 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/22/2028 618.71 618.71 12/22/2025 Coupon 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 90.01 90.01 12/22/2025 Principal Paydown 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 3,145.29 3,145.29 12/22/2025 Coupon 92348KDY6 255,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 958.38 958.38 12/25/2025 Coupon 096924AD7 220,000.00 BMWOT 2025-A A3 4.56 09/25/2029 836.00 836.00 12/25/2025 Coupon 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 937.47 937.47 12/25/2025 Principal Paydown 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 115,872.34 115,872.34 12/25/2025 Coupon 3137BVZ82 320,000.00 FHMS K-063 A2 3.43 01/25/2027 914.67 914.67 12/25/2025 Coupon 3137FEBQ2 500,000.00 FHMS K-072 A2 3.444 12/25/2027 1,435.00 1,435.00 12/25/2025 Coupon 3137FETN0 465,000.00 FHMS K-073 A2 3.35 01/25/2028 1,298.13 1,298.13 12/25/2025 Coupon 3137FHPJ6 325,000.00 FHMS K-080 A2 3.926 07/25/2028 1,063.29 1,063.29 12/25/2025 Coupon 3137FJEH8 155,000.00 FHMS K-081 A2 3.9 08/25/2028 503.75 503.75 12/25/2025 Coupon 3137FJKE8 220,000.00 FHMS K-082 A2 3.92 09/25/2028 718.67 718.67 12/25/2025 Coupon 3137FJXV6 297,000.00 FHMS K-083 A2 4.05 09/25/2028 1,002.38 1,002.38 12/25/2025 Coupon 3137FJZ93 240,000.00 FHMS K-084 A2 3.78 10/25/2028 756.00 756.00 12/25/2025 Coupon 3137H4BY5 315,000.00 FHMS K-746 A2 2.031 09/25/2028 533.14 533.14 12/26/2025 Coupon 437076DC3 295,000.00 HOME DEPOT INC 4.75 06/25/2029 7,006.25 7,006.25 12/31/2025 Coupon 91282CGC9 500,000.00 UNITED STATES TREASURY 3.875 12/31/2027 9,687.50 9,687.50 December 2025
Total 1,509,167.09 112,201.99 1,621,369.08
JANUARY 2026
01/07/2026 Coupon 24422EXZ7 280,000.00 JOHN DEERE CAPITAL CORP 4.65 01/07/2028 6,510.00 6,510.00 01/12/2026 Coupon 459058KT9 250,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.5 07/12/2028 4,375.00 4,375.00
01/15/2026 Coupon 02582JJZ4 125,000.00 AMXCA 2023-1 A 4.87 05/15/2026 507.29 507.29 01/15/2026 Coupon 02582JKD1 340,000.00 AMXCA 2023-3 A 5.23 09/15/2028 1,481.83 1,481.83 CONFIDENTIAL | 48
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/15/2026 Coupon 161571HT4 340,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,462.00 1,462.00 01/15/2026 Coupon 437921AD1 105,000.00 HAROT 252 A3 4.15 10/15/2029 363.13 363.13 01/15/2026 Coupon 448976AD2 140,000.00 HART 2024-C A3 4.41 05/15/2029 514.50 514.50 01/15/2026 Coupon 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 118.36 118.36 01/15/2026 Principal Paydown 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 7,107.09 7,107.09 01/15/2026 Coupon 44934QAD3 90,000.00 HART 2024-B A3 4.84 03/15/2029 363.00 363.00 01/15/2026 Coupon 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 934.53 934.53 01/15/2026 Principal Paydown 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 17,789.22 17,789.22 01/15/2026 Coupon 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 51.38 51.38 01/15/2026 Principal Paydown 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 5,775.16 5,775.16 01/15/2026 Coupon 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 220.74 220.74 01/15/2026 Principal Paydown 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 8,941.55 8,941.55 01/15/2026 Coupon 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 458.25 458.25 01/15/2026 Principal Paydown 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 9,748.26 9,748.26 01/15/2026 Coupon 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 120.62 120.62 01/15/2026 Principal Paydown 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 3,439.71 3,439.71 01/15/2026 Coupon 89239TAD4 105,000.00 TAOT 2024-D A3 4.4 06/15/2029 385.00 385.00 01/15/2026 Coupon 91282CKZ3 1,000,000.00 UNITED STATES TREASURY 4.375 07/15/2027 21,875.00 21,875.00 01/15/2026 Coupon 91324PEU2 350,000.00 UNITEDHEALTH GROUP INC 4.25 01/15/2029 7,437.50 7,437.50 01/16/2026 Coupon 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 182.82 182.82 01/16/2026 Principal Paydown 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 4,278.29 4,278.29 01/16/2026 Coupon 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 10.16 10.16 01/16/2026 Principal Paydown 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 3,273.99 3,273.99 01/16/2026 Coupon 38014AAD3 95,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 348.33 348.33 01/20/2026 Coupon 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/22/2028 618.71 618.71 01/20/2026 Coupon 713448FX1 295,000.00 PEPSICO INC 4.5 07/17/2029 6,637.50 6,637.50 01/20/2026 Coupon 78016HZT0 150,000.00 ROYAL BANK OF CANADA 4.875 01/19/2027 3,656.25 3,656.25 01/20/2026 Coupon 92348KDY6 255,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 958.38 958.38 01/21/2026 Coupon 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 76.80 76.80 01/21/2026 Principal Paydown 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 3,076.42 3,076.42 01/26/2026 Coupon 096924AD7 220,000.00 BMWOT 2025-A A3 4.56 09/25/2029 836.00 836.00 01/26/2026 Coupon 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 672.41 672.41 CONFIDENTIAL | 49
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/26/2026 Final Maturity 3137BNGT5 458,285.32 FHMS K-054 A2 2.745 01/25/2026 293,948.98 293,948.98 01/26/2026 Coupon 3137BVZ82 320,000.00 FHMS K-063 A2 3.43 01/25/2027 914.67 914.67 01/26/2026 Coupon 3137FEBQ2 500,000.00 FHMS K-072 A2 3.444 12/25/2027 1,435.00 1,435.00 01/26/2026 Coupon 3137FETN0 465,000.00 FHMS K-073 A2 3.35 01/25/2028 1,298.13 1,298.13 01/26/2026 Coupon 3137FHPJ6 325,000.00 FHMS K-080 A2 3.926 07/25/2028 1,063.29 1,063.29 01/26/2026 Coupon 3137FJEH8 155,000.00 FHMS K-081 A2 3.9 08/25/2028 503.75 503.75 01/26/2026 Coupon 3137FJKE8 220,000.00 FHMS K-082 A2 3.92 09/25/2028 718.67 718.67 01/26/2026 Coupon 3137FJXV6 297,000.00 FHMS K-083 A2 4.05 09/25/2028 1,002.38 1,002.38 01/26/2026 Coupon 3137FJZ93 240,000.00 FHMS K-084 A2 3.78 10/25/2028 756.00 756.00 01/26/2026 Coupon 3137H4BY5 315,000.00 FHMS K-746 A2 2.031 09/25/2028 533.14 533.14 January 2026 Total 357,378.67 69,400.51 426,779.18
FEBRUARY 2026
02/02/2026 Coupon 459058KW2 250,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.625 08/01/2028 5,781.25 5,781.25
02/02/2026 Coupon 69371RS80 410,000.00 PACCAR FINANCIAL CORP 4.6 01/31/2029 9,430.00 9,430.00 02/16/2026 Coupon 161571HT4 340,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,462.00 1,462.00 02/16/2026 Coupon 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 166.88 166.88 02/16/2026 Principal Paydown 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 4,228.14 4,228.14 02/16/2026 Coupon 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 0.23 0.23 02/16/2026 Effective Maturity 36265WAD5 28,974.27 GMCAR 2022-3 A3 3.64 04/16/2027 76.75 76.75 02/16/2026 Coupon 38014AAD3 95,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 348.33 348.33 02/16/2026 Coupon 448976AD2 140,000.00 HART 2024-C A3 4.41 05/15/2029 514.50 514.50 02/16/2026 Coupon 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 91.24 91.24 02/16/2026 Principal Paydown 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 7,014.08 7,014.08 02/16/2026 Coupon 44934QAD3 90,000.00 HART 2024-B A3 4.84 03/15/2029 363.00 363.00 02/16/2026 Coupon 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 853.29 853.29 02/16/2026 Principal Paydown 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 16,193.57 16,193.57 02/16/2026 Coupon 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 33.38 33.38 02/16/2026 Principal Paydown 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 4,826.15 4,826.15 02/16/2026 Coupon 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 182.82 182.82 02/16/2026 Principal Paydown 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 8,069.88 8,069.88 02/16/2026 Coupon 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 423.89 423.89 CONFIDENTIAL | 50
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/16/2026 Principal Paydown 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 10,223.64 10,223.64 02/16/2026 Coupon 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 107.69 107.69 02/16/2026 Principal Paydown 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 3,396.58 3,396.58 02/16/2026 Coupon 89239TAD4 105,000.00 TAOT 2024-D A3 4.4 06/15/2029 385.00 385.00 02/17/2026 Coupon 02582JJZ4 125,000.00 AMXCA 2023-1 A 4.87 05/15/2026 507.29 507.29 02/17/2026 Coupon 02582JKD1 340,000.00 AMXCA 2023-3 A 5.23 09/15/2028 1,481.83 1,481.83 02/17/2026 Coupon 437921AD1 105,000.00 HAROT 252 A3 4.15 10/15/2029 363.13 363.13 02/17/2026 Coupon 438516CJ3 400,000.00 HONEYWELL INTERNATIONAL INC 4.95 02/15/2028 9,900.00 9,900.00
02/17/2026 Coupon 912828YB0 150,000.00 UNITED STATES TREASURY 1.625 08/15/2029 1,218.75 1,218.75 02/18/2026 Coupon 06428CAA2 300,000.00 BANK OF AMERICA NA 5.526 08/18/2026 8,289.00 8,289.00 02/20/2026 Coupon 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/22/2028 618.71 618.71 02/20/2026 Coupon 92348KDY6 255,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 958.38 958.38 02/23/2026 Coupon 037833BY5 400,000.00 APPLE INC 3.25 02/23/2026 6,500.00 6,500.00 02/23/2026 Final Maturity 037833BY5 400,000.00 APPLE INC 3.25 02/23/2026 400,000.00 400,000.00 02/23/2026 Coupon 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 63.88 63.88 02/23/2026 Principal Paydown 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 3,018.90 3,018.90 02/25/2026 Coupon 096924AD7 220,000.00 BMWOT 2025-A A3 4.56 09/25/2029 836.00 836.00 02/25/2026 Coupon 3137BVZ82 320,000.00 FHMS K-063 A2 3.43 01/25/2027 914.67 914.67 02/25/2026 Coupon 3137FEBQ2 500,000.00 FHMS K-072 A2 3.444 12/25/2027 1,435.00 1,435.00 02/25/2026 Coupon 3137FETN0 465,000.00 FHMS K-073 A2 3.35 01/25/2028 1,298.13 1,298.13 02/25/2026 Coupon 3137FHPJ6 325,000.00 FHMS K-080 A2 3.926 07/25/2028 1,063.29 1,063.29 02/25/2026 Coupon 3137FJEH8 155,000.00 FHMS K-081 A2 3.9 08/25/2028 503.75 503.75 02/25/2026 Coupon 3137FJKE8 220,000.00 FHMS K-082 A2 3.92 09/25/2028 718.67 718.67 02/25/2026 Coupon 3137FJXV6 297,000.00 FHMS K-083 A2 4.05 09/25/2028 1,002.38 1,002.38 02/25/2026 Coupon 3137FJZ93 240,000.00 FHMS K-084 A2 3.78 10/25/2028 756.00 756.00 02/25/2026 Coupon 3137H4BY5 315,000.00 FHMS K-746 A2 2.031 09/25/2028 533.14 533.14 02/26/2026 Coupon 17275RBQ4 170,000.00 CISCO SYSTEMS INC 4.8 02/26/2027 4,080.00 4,080.00 02/27/2026 Coupon 459058LK7 170,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.0 08/27/2026 3,400.00 3,400.00
February 2026
Total 457,047.69 66,585.48 523,633.17
CONFIDENTIAL | 51
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount MARCH 2026
03/09/2026 Coupon 57636QAW4 290,000.00 MASTERCARD INC 4.875 03/09/2028 7,068.75 7,068.75 03/10/2026 Coupon 3130ATS57 700,000.00 FEDERAL HOME LOAN BANKS 4.5 03/10/2028 15,750.00 15,750.00 03/16/2026 Coupon 02582JJZ4 125,000.00 AMXCA 2023-1 A 4.87 05/15/2026 507.29 507.29 03/16/2026 Coupon 02582JKD1 340,000.00 AMXCA 2023-3 A 5.23 09/15/2028 1,481.83 1,481.83 03/16/2026 Coupon 161571HT4 340,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,462.00 1,462.00 03/16/2026 Coupon 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 151.14 151.14 03/16/2026 Principal Paydown 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 4,098.61 4,098.61 03/16/2026 Coupon 38014AAD3 95,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 348.33 348.33 03/16/2026 Coupon 437921AD1 105,000.00 HAROT 252 A3 4.15 10/15/2029 363.13 363.13 03/16/2026 Coupon 448976AD2 140,000.00 HART 2024-C A3 4.41 05/15/2029 514.50 514.50 03/16/2026 Coupon 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 64.47 64.47 03/16/2026 Principal Paydown 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 6,836.88 6,836.88 03/16/2026 Coupon 44934QAD3 90,000.00 HART 2024-B A3 4.84 03/15/2029 363.00 363.00 03/16/2026 Coupon 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 779.34 779.34 03/16/2026 Principal Paydown 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 13,363.76 13,363.76 03/16/2026 Coupon 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 18.34 18.34 03/16/2026 Principal Paydown 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 4,056.89 4,056.89 03/16/2026 Coupon 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 148.59 148.59 03/16/2026 Principal Paydown 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 7,021.69 7,021.69 03/16/2026 Coupon 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 387.85 387.85 03/16/2026 Principal Paydown 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 10,634.56 10,634.56 03/16/2026 Coupon 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 94.93 94.93 03/16/2026 Principal Paydown 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 3,306.58 3,306.58 03/16/2026 Coupon 89239TAD4 105,000.00 TAOT 2024-D A3 4.4 06/15/2029 385.00 385.00 03/17/2026 Coupon 931142ER0 40,000.00 WALMART INC 1.05 09/17/2026 210.00 210.00 03/18/2026 Coupon 857477CL5 365,000.00 STATE STREET CORP 4.993 03/18/2027 9,112.23 9,112.23 03/20/2026 Coupon 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/22/2028 618.71 618.71 03/20/2026 Coupon 459058LR2 205,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 4,228.13 4,228.13
03/20/2026 Coupon 92348KDY6 255,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 958.38 958.38 03/23/2026 Coupon 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 51.20 51.20 CONFIDENTIAL | 52
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/23/2026 Principal Paydown 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 2,930.88 2,930.88 03/25/2026 Coupon 096924AD7 220,000.00 BMWOT 2025-A A3 4.56 09/25/2029 836.00 836.00 03/25/2026 Coupon 3137BVZ82 320,000.00 FHMS K-063 A2 3.43 01/25/2027 914.67 914.67 03/25/2026 Coupon 3137FEBQ2 500,000.00 FHMS K-072 A2 3.444 12/25/2027 1,435.00 1,435.00 03/25/2026 Coupon 3137FETN0 465,000.00 FHMS K-073 A2 3.35 01/25/2028 1,298.13 1,298.13 03/25/2026 Coupon 3137FHPJ6 325,000.00 FHMS K-080 A2 3.926 07/25/2028 1,063.29 1,063.29 03/25/2026 Coupon 3137FJEH8 155,000.00 FHMS K-081 A2 3.9 08/25/2028 503.75 503.75 03/25/2026 Coupon 3137FJKE8 220,000.00 FHMS K-082 A2 3.92 09/25/2028 718.67 718.67 03/25/2026 Coupon 3137FJXV6 297,000.00 FHMS K-083 A2 4.05 09/25/2028 1,002.38 1,002.38 03/25/2026 Coupon 3137FJZ93 240,000.00 FHMS K-084 A2 3.78 10/25/2028 756.00 756.00 03/25/2026 Coupon 3137H4BY5 315,000.00 FHMS K-746 A2 2.031 09/25/2028 533.14 533.14 03/31/2026 Coupon 9128286L9 750,000.00 UNITED STATES TREASURY 2.25 03/31/2026 8,437.50 8,437.50 03/31/2026 Final Maturity 9128286L9 750,000.00 UNITED STATES TREASURY 2.25 03/31/2026 750,000.00 750,000.00 03/31/2026 Coupon 912828YG9 300,000.00 UNITED STATES TREASURY 1.625 09/30/2026 2,437.50 2,437.50 03/31/2026 Coupon 91282CEF4 750,000.00 UNITED STATES TREASURY 2.5 03/31/2027 9,375.00 9,375.00 03/31/2026 Coupon 91282CFM8 570,000.00 UNITED STATES TREASURY 4.125 09/30/2027 11,756.25 11,756.25 03/31/2026 Coupon 91282CGT2 600,000.00 UNITED STATES TREASURY 3.625 03/31/2028 10,875.00 10,875.00 03/31/2026 Coupon 91282CMU2 250,000.00 UNITED STATES TREASURY 4.0 03/31/2030 5,000.00 5,000.00 March 2026 Total 802,249.84 102,009.37 904,259.21
APRIL 2026
04/06/2026 Coupon 89115A2W1 400,000.00 TORONTO-DOMINION BANK 4.98 04/05/2027 9,960.00 9,960.00 04/09/2026 Coupon 3130B3A29 600,000.00 FEDERAL HOME LOAN BANKS 4.0 10/09/2026 12,000.00 12,000.00 04/15/2026 Coupon 02582JJZ4 125,000.00 AMXCA 2023-1 A 4.87 05/15/2026 507.29 507.29 04/15/2026 Coupon 02582JKD1 340,000.00 AMXCA 2023-3 A 5.23 09/15/2028 1,481.83 1,481.83 04/15/2026 Coupon 161571HT4 340,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,462.00 1,462.00 04/15/2026 Coupon 437921AD1 105,000.00 HAROT 252 A3 4.15 10/15/2029 363.13 363.13 04/15/2026 Coupon 448976AD2 140,000.00 HART 2024-C A3 4.41 05/15/2029 514.50 514.50 04/15/2026 Coupon 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 38.37 38.37 04/15/2026 Principal Paydown 448979AD6 91,030.06 HART 2023-A A3 4.58 04/15/2027 6,977.45 6,977.45 04/15/2026 Coupon 44934QAD3 90,000.00 HART 2024-B A3 4.84 03/15/2029 363.00 363.00 04/15/2026 Coupon 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 718.31 718.31 04/15/2026 Principal Paydown 47787CAC7 310,000.00 JDOT 2023-C A3 5.48 05/15/2028 16,778.68 16,778.68 CONFIDENTIAL | 53
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/15/2026 Coupon 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 5.70 5.70 04/15/2026 Effective Maturity 47800AAC4 44,695.54 JDOT 2022-B A3 3.74 02/16/2027 1,827.47 1,827.47 04/15/2026 Coupon 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 118.80 118.80 04/15/2026 Principal Paydown 47800BAC2 107,631.39 JDOT 2022-C A3 5.09 06/15/2027 8,796.44 8,796.44 04/15/2026 Coupon 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 350.36 350.36 04/15/2026 Principal Paydown 58769GAD5 130,000.00 MBALT 2024-B A3 4.23 02/15/2028 12,324.79 12,324.79 04/15/2026 Coupon 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 82.50 82.50 04/15/2026 Principal Paydown 58770AAC7 57,679.43 MBART 2023-1 A3 4.51 11/15/2027 3,395.82 3,395.82 04/15/2026 Coupon 89239TAD4 105,000.00 TAOT 2024-D A3 4.4 06/15/2029 385.00 385.00 04/15/2026 Coupon 91282CGV7 400,000.00 UNITED STATES TREASURY 3.75 04/15/2026 7,500.00 7,500.00 04/15/2026 Final Maturity 91282CGV7 400,000.00 UNITED STATES TREASURY 3.75 04/15/2026 400,000.00 400,000.00 04/15/2026 Coupon 91282CJC6 475,000.00 UNITED STATES TREASURY 4.625 10/15/2026 10,984.38 10,984.38 04/16/2026 Coupon 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 135.87 135.87 04/16/2026 Principal Paydown 362583AD8 88,639.06 GMCAR 2023-2 A3 4.47 02/16/2028 4,280.86 4,280.86 04/16/2026 Coupon 38014AAD3 95,000.00 GMCAR 2024-4 A3 4.4 08/16/2029 348.33 348.33 04/16/2026 Coupon 459058LN1 300,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 5,812.50 5,812.50
04/20/2026 Coupon 362962AD4 155,000.00 GMALT 2025-2 A3 4.58 05/22/2028 618.71 618.71 04/20/2026 Coupon 92348KDY6 255,000.00 VZMT 2025-3 A1A 4.51 03/20/2030 958.38 958.38 04/21/2026 Coupon 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 38.89 38.89 04/21/2026 Principal Paydown 43815JAC7 43,276.02 HAROT 2023-1 A3 5.04 04/21/2027 2,958.38 2,958.38 04/27/2026 Coupon 096924AD7 220,000.00 BMWOT 2025-A A3 4.56 09/25/2029 836.00 836.00 04/27/2026 Coupon 3137BVZ82 320,000.00 FHMS K-063 A2 3.43 01/25/2027 914.67 914.67 04/27/2026 Coupon 3137FEBQ2 500,000.00 FHMS K-072 A2 3.444 12/25/2027 1,435.00 1,435.00 04/27/2026 Coupon 3137FETN0 465,000.00 FHMS K-073 A2 3.35 01/25/2028 1,298.13 1,298.13 04/27/2026 Coupon 3137FHPJ6 325,000.00 FHMS K-080 A2 3.926 07/25/2028 1,063.29 1,063.29 04/27/2026 Coupon 3137FJEH8 155,000.00 FHMS K-081 A2 3.9 08/25/2028 503.75 503.75 04/27/2026 Coupon 3137FJKE8 220,000.00 FHMS K-082 A2 3.92 09/25/2028 718.67 718.67 04/27/2026 Coupon 3137FJXV6 297,000.00 FHMS K-083 A2 4.05 09/25/2028 1,002.38 1,002.38 04/27/2026 Coupon 3137FJZ93 240,000.00 FHMS K-084 A2 3.78 10/25/2028 756.00 756.00 04/27/2026 Coupon 3137H4BY5 315,000.00 FHMS K-746 A2 2.031 09/25/2028 533.14 533.14 04/28/2026 Coupon 931142FN8 310,000.00 WALMART INC 4.35 04/28/2030 6,742.50 6,742.50 CONFIDENTIAL | 54
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/30/2026 Coupon 91282CMZ1 400,000.00 UNITED STATES TREASURY 3.875 04/30/2030 7,750.00 7,750.00 April 2026 Total 457,339.87 78,301.36 535,641.22
Grand Total 137,280,087.76 9,293,386.40 1,055,116.02 10,348,502.42 CONFIDENTIAL | 55
City of Gardena Cons | Account #10647 | As of May 31, 2025 Execution Time: 06/09/2025 07:51:05 AM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747

IMPORTANT DISCLOSURES
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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.

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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.

Report No. P-2025-11

1 TO: THE HONORABLE MAYOR AND CITY COUNCIL
SUBJECT: PERSONNEL REPORT

1. Report the appointment of the following individuals:
a. TAMARA SANCHEZ , to the position of Bus Operator , Schedule 90 ($4,952 - $6,321/month), with the Transportation Department, effective June 7, 2025. b. ESTEPHANIE SANTIAGO AVALOS, to the position of Bus Operator, Schedule 90 ($4,952 - $6,321/month), with the Transportation Department, effective June 8, 2025.

2. Report the promotion of PRISCILLA ESTRADA , to the position of Administrative Analyst I, Schedule 49 ($5,827- $7,436/month), with the Police Department, effective June 9, 2025.

3. Report the Separation of the following employees:
a. ASYAH THOMAS, Bus Operator with the Transportation Department, effective June 5, 2025. Ms. Thomas provided 8 months of full-time service to the City. b. KENNY MARTINEZ ORELLANA, Account Clerk with the Administrative Services Department, effective June 6, 2025. Mr. Martinez Orellana provided 8 months of service to the City.
c. JONATHON SANCHEZ, Bus Operator with the Transportation Department, effective June 6, 2025. Mr. Sanchez provided 3 months of service to the City. d. ELIANA MONTELONGO, Police Officer with the Police Department effective June 10, 2025. Ms. Montelongo provided 9 months of full-time service to the City.

4. Report the Recruitment for the Open/Competitive position of Account Clerk (Administrative Services Department). This recruitment is open until filled, with the first review on July 1, 2025.

5. Report the Recruitment for the Open/Competitive position of Community Services Officer (Community Development Department). This recruitment is open until filled.

6. Report the Recruitment for the Open/Competitive position of General Building Inspector (Community Development Department). This recruitment is scheduled to close July 3, 2025.

7. Report the Recruitment for the Open/Competitive position of Police Officer/Lateral (Police Department). This is a continuous recruitment.

8. Report the Recruitment for the Open/Competitive position of Police Trainee (Police Department). This is a continuous recruitment.

9. Report the Recruitment for the Closed/Competitive position of Meal Services Coordinator (Recreation and Human Services Department). This recruitment is scheduled to close June 27, 2025.

10. Report the Recruitment for the Open/Competitive position of Lifeguard (Recreation and Human Services Department). This is a continuous recruitment.

Report No. P-2025-11

2 11. Report the Recruitment for the Open/Competitive position of Lifeguard/Instructor (Recreation and Human Services Department). This is a continuous recruitment.

12. Report the Recruitment for the Open/Competitive position of Recreation Leader I /II (Recreation and Human Services Department). This is a continuous recruitment.

13. Report the Recruitment for the Open/Competitive position of Bus Operator (Transportation Department). This is a continuous recruitment.

14. Report the Recruitment for the Open/Competitive position of On- Demand (Micro/Paratransit) Operator (Transportation Department). This is a continuous recruitment.

15. Report the Recruitment for the Open/Competitive position of On- Demand Transit Dispatcher (Transportation Department). This is a continuous recruitment.

16. Report the Recruitment for the Open/Competitive position of Transportation Operations Supervisor (Transportation Department). This is a continuous recruitment.

17. Report the Recruitment for the Open/Competitive position of Administrative Analyst I (Transportation Department). This recruitment is open until filled.

City of Gardena
Gardena City Council Meeting

AGENDA REPORT SUMMARY
Agenda Item No. 8.F
Section: CONSENT CALENDAR
Meeting Date: June 24, 2025

TO: THE HONORABLE MAYOR AND MEMBERS OF THE GARDENA CITY COUNCIL AGENDA TITLE:

Ratification of the City Council's May 13, 2025, Approval of the Authorization to Purchase a 2025 Ford Transit - 350 MR Passenger XL RWD Vehicle CONTACT: RECREATION AND HUMAN SERVICES
COUNCIL ACTION REQUIRED:

RECOMMENDATION AND STAFF SUMMARY:

Staff respectfully recommends Ratification of the City Council's approval to Purchase a 2025 Ford Transit - 350 MR Passenger XL RWD Vehicle from Airport Marina Ford. Due to a high purchase demand, the vehicle approved for purchase at the May 13,2025 city council meeting is no longer available at this dealership. The City has been able to source the same vehicle at the Market Value Selling Price of $69,234.62 (including taxes and fees) through Central Ford of South Gate - Los Angeles. This is the lowest price available since the "Employee Pricing" discount is no longer being offered for this type of vehicle at any at Ford dealerships nationwide.

As previously stated in the May 13,2025 Agenda Item, the vehicle will be used by the Recreation and Human Services Department to transport seniors and kids to excursions. This purchase will replace an older vehicle which is nearing its end of useful service life due to age, mileage, and general wear and tear. The replacement of the vehicle is necessary to maintain a fleet inventory that is safe, efficient, and reliable. The new vehicle will also be more comfortable with features such as a medium height room and assist handles, allowing for seniors to easily embark and disembark.

Staff Recommendation: Approve ratified purchase of a 2025 Ford Transit - 350 MR Passenger XL RWD Vehicle from Central Ford of South Gate - Los Angeles FINANCIAL IMPACT/COST:

Adequate funding for the vehicle is included in the current Adopted Budget for Fiscal Year 2024-2025 in the amount of $69,234.62. The cost increase of $4,876.72 is due to the "Employee Pricing" discount that is no longer being offered by Ford Dealerships. There will be no additional financial impact on the City's General Fund.

ATTACHMENTS:
05-13-2025 Certified Minutes Excerpt for REC Item 17.B Authorization to Purchase a 2025 Ford Transit - 350 MR Passenger XL RWD Vehicle in the amount of $64,357.90.pdf Central Ford_Revised Quote_69,234.62.pdf

APPROVED:
___________________________________
Clint Osorio, City Manager

Date: 6/13/2025
Salesperson: Moises Carrillo Gomez
Manager: Nicole Salazar
Customer ID #: 49217526253

FOR INTERNAL USE ONLY

BUSINESS
NAME City of Gardena Home Phone :

CONTACT Laura Ramirez
Address : 1700 W. 162nd St. GARDENA, CA 90247LOS ANGELES Work Phone :

E-Mail : [email protected] Cell Phone :(310) 930-7526

VEHICLE
Stock # :N10427 New / Used : New VIN : 1FBAX2C87SKA43422 Mileage:21 Vehicle :2025 Ford Transit-350 Passenger Color :OXFORD WHITE Type :MR PASS XL RWDX2C
Body Size : Style : Weight :6024 Unit Class :

Market Value Selling Price 62,540.00
DealerDoc 85.00
Tax 6,575.62
Non Tax Fees 34.00
69,234.62

Balance
City of Gardena
Gardena City Council Meeting

AGENDA REPORT SUMMARY
Agenda Item No. 8.G
Section: CONSENT CALENDAR
Meeting Date: June 24, 2025

TO: THE HONORABLE MAYOR AND MEMBERS OF THE GARDENA CITY COUNCIL AGENDA TITLE:

Ratification of the City Council's May 13, 2025, Approval of the Authorization to Purchase a 2024 Chrysler Pacifica Touring ADA Commercial Mini Van with Folding Ramp CONTACT: RECREATION AND HUMAN SERVICES
COUNCIL ACTION REQUIRED:

RECOMMENDATION AND STAFF SUMMARY:

Staff respectfully recommends ratification of the City Council's approval to Purchase a 2024 Chrysler Pacifica Touring ADA Commercial Mini Van Conversion with a Side-Entry – E4 Power Door with Manual Folding Ramp Van from Mobility Works of California LLC. Due to a high purchase demand, the vehicle
approved for purchase at the May 13,2025 city council
meeting is no longer available
through this vendor. The City has been able to negotiate a discounted, more competitive price than was originally quoted through United Access in the amount of $73,727.83 (including taxes and fees). This is the lowest price available for this vehicle since this is the only other vendor in the region that provides this vehicle with the conversion for wheelchair accessibility.

As previously stated in the May 13, 2025, Agenda Item, the Recreation and Human Services Department offers a diverse range of programs through its Senior Services and Supportive Services initiatives for individuals over the age of 60. Our Support Services Program has grown in the last few years, and we have experienced an increase in clients requiring special assistance in entering and exiting vehicles. Acquiring an ADA-compliant van would greatly enhance our ability to provide reliable transportation for essential trips such as medical appointments and grocery shopping assistance. This addition would improve accessibility for our clients, particularly those who use wheelchairs, ensuring safer and more comfortable travel. It would also support a higher quality of life by promoting independence, inclusion, and a stronger sense of community—all while aligning with the transportation requirements of the Americans with Disabilities Act.

Staff Recommendation: Approve ratification of the City Council's approval of the Authorization to Purchase a 2024 Chrysler Pacifica Touring ADA Commercial Mini Van Conversion with a Side-Entry – E4 Power Door with Manual Folding Ramp Van from United Access
FINANCIAL IMPACT/COST:

Adequate funding for the vehicle is included in the current Adopted Budget for Fiscal Year 2024-2025 in the amount of $73,727.83. The cost increase of $2,176.77 is due to additional fees that could not be waived or discounted. There will be no additional financial impact on the City's General Fund.

ATTACHMENTS:
invoice 75316 for 71551.06.pdf
05-13-2025 Certified Minutes Excerpt for REC Item 17.C Authorization to Purchase a 2024 Chrysler Pacifica Touring ADA Mini Van from Mobility Works-Amount $71,551.06.docx.pdf United Access Invoice

APPROVED:
___________________________________
Clint Osorio, City Manager
Printed: 06/05/2025 Deal Invoice Init._______ 1 of 2 Deal Invoice
76 Long Beach, CA
2715 Seaboard Lane
Long Beach, CA 90805
(562) 634-5962
REF # 75316
Date: 06/02/2025
Salesperson: James Macdonald
Email: [email protected]

Customer: City of Gardena
Address: 1700 West 162nd Street
Gardena, CA 90247
Email: [email protected]
Phone:

Mobile: 310-941-5667

Co-Buyer/Company:

Mailing:

Due On or About: 06/02/2025
Stock # VIN Year Make Model Conversion
RR173395 2C4RC1FG7RR173395 2024 Chrysler Pacifica C-BA-PA-I4-R I hereby agree to purchase, under the terms and conditions specified, the following:

Itemized Charges & Fees
Charges & Fees
Document Fee - CA $70.00
Registration - CA $61.00
Smog Certificate Fee - CA $8.25
Freight-Chassis and Conversion $1,290.00
License - CA $506.00
Smog Fee - CA $50.00

Service Contract(s)

Total Itemized Charges & Fees $1,985.25
Trade Information
Payoff: $0.00 EQUITY
Allowance(s): $0.00 $0.00
Selling Price and Summary
Sales Price $73,407.00
Discount ($7,683.77)
Total Vehicle Price $65,723.23
Optional Equipment & Accesories $0.00
Equipment Discount ($0.00)
Total Equipment Price $0.00
Optional Charges & Fees $1,985.25
Service Contract(s) $0.00
Sales Tax (Chassis) $3,842.58
Total Amount Due $71,551.06
Less Down Payment ($0.00)
Trade Net ($0.00)
Balance or Amount Financed $71,551.06
Loan Information
Finance Company: Cash
Address:
, ,
APR: 0.0% Est. Monthly Payment
Term: 72.0 Month(s) $0.00

PURCHASER'S SIGNATURE DATE SALES CONSULTANT'S SIGNATURE DATE

CO-PURCHASER'S SIGNATURE DATE MANAGER'S SIGNATURE DATE
Printed: 06/05/2025 Deal Invoice Init._______ 2 of 2 Deal Invoice
76 Long Beach, CA
2715 Seaboard Lane
Long Beach, CA 90805
(562) 634-5962
REF # 75316
Date: 06/02/2025
Salesperson: James Macdonald
Email: [email protected]

Customer: City of Gardena
Address: 1700 West 162nd Street
Gardena, CA 90247
Email: [email protected]
Phone:

Mobile: 310-941-5667

Co-Buyer/Company:

Mailing:

Due On or About: 06/02/2025
Description of Purchase
Stock # VIN Year Make Model Price
RR173395 2C4RC1FG7RR173395 2024 Chrysler Pacifica $35,186.00 2024 Chrysler Pacifica
VIN #: 2C4RC1FG7RR173395
MILEAGE: 5
Bright White
Conversion Description
RR173395 C-BA-PA-I4-R $30,537.23
Commercial Braun Pacifica I4 ADA Infloor SIde Entry Rubber

DISCLAIMER OF WARRANTIES
Any warranties on the product sold hereby are those made by the manufacturer. The seller hereby expressly disclaims all warranties, either express or implied, including any implied warranty of merchantability or fitness for a particular purpose and neither assumes nor authorizes any other person to assume for it any liability in connection wit the sale of said products; therefore, with respect to the seller, the product is sold with no warranty and the entire risk as to the quality and performance of the product is with the buyer and/or manufacturer, and if the product proves defective after purchase, the buyer and/or manufacturer, not the seller shall assume the entire cost of all necessary servicing or repair.

Printed: 06/05/2025 Deal Invoice Init._______ 1 of 2 Deal Invoice
76 Long Beach, CA
2715 Seaboard Lane
Long Beach, CA 90805
(562) 634-5962
REF # 75745
Date: 06/05/2025
Salesperson: James Macdonald
Email: [email protected]

Customer: City of Gardena
Address: 1700 West 162nd Street
Gardena, CA 90247
Email: [email protected]
Phone:

Mobile: 310-941-5667

Co-Buyer/Company:

Mailing:

Due On or About:

Service Vehicle VIN Year Make Model Conversion
RR173395 2C4RC1FG7RR173395 2024 Chrysler Pacifica C-BA-PA-I4-R I hereby agree to purchase, under the terms and conditions specified, the following:

Itemized Charges & Fees
Charges & Fees

Service Contract(s)

Total Itemized Charges & Fees $0.00
Trade Information
Payoff: $0.00 EQUITY
Allowance(s): $0.00 $0.00
Selling Price and Summary
Sales Price $0.00
Discount ($0.00)
Optional Equipment & Accesories $2,176.77
Optional Charges & Fees $0.00
Service Contract(s) $0.00
Sales Tax (Chassis) $0.00
Total Amount Due $2,176.77
Less Down Payment ($0.00)
Trade Net ($0.00)
Balance or Amount Financed $2,176.77
Loan Information
Finance Company: Cash
Address:
, ,
APR: 0.0% Est. Monthly Payment
Term: 72.0 Month(s) $0.00

PURCHASER'S SIGNATURE DATE SALES CONSULTANT'S SIGNATURE DATE

CO-PURCHASER'S SIGNATURE DATE MANAGER'S SIGNATURE DATE
Printed: 06/05/2025 Deal Invoice Init._______ 2 of 2 $2,176.77Total Optional Equipment & Accessories
Deal Invoice
76 Long Beach, CA
2715 Seaboard Lane
Long Beach, CA 90805
(562) 634-5962
REF # 75745
Date: 06/05/2025
Salesperson: James Macdonald
Email: [email protected]

Customer: City of Gardena
Address: 1700 West 162nd Street
Gardena, CA 90247
Email: [email protected]
Phone:

Mobile: 310-941-5667

Co-Buyer/Company:

Mailing:

Due On or About:

Customer Vehicle
Service Vehicle VIN Year Make Model
173395 2C4RC1FG7RR173395 2024 Chrysler Pacifica
MILEAGE: 5.0
Bright White
Conversion Description
RR173395 C-BA-PA-I4-R
Commercial Braun Pacifica I4 ADA Infloor SIde Entry Rubber Optional Equipment & Accessories Summary
OP/Part # Quantity Description PRICE
QST:Q-8101-L 1 QRT Deluxe Kit for L Track; no occupant securement $2,176.77 Sublet 1 2C4RC1FG7RR173395 2024 Chrysler Pacifica $0.00 City of Gardena
Gardena City Council Meeting

AGENDA REPORT SUMMARY
Agenda Item No. 8.H
Section: CONSENT CALENDAR
Meeting Date: June 24, 2025

TO: THE HONORABLE MAYOR AND MEMBERS OF THE GARDENA CITY COUNCIL AGENDA TITLE:

Approval of an Annual Bingo Permit - Gardena Buddhist Church CONTACT: COMMUNITY DEVELOPMENT
COUNCIL ACTION REQUIRED:

RECOMMENDATION AND STAFF SUMMARY:

On April 10, 2025, the Community Development Department received the application for a temporary event permit from the Gardena Buddhist Church for their Annual Obon Festival to be held, Saturday and Sunday, August 2 and 3, 2025, between the hours of 3:00 PM and 9:00 PM, at its premises, 1517 W. 166th Street. In addition to their request for a temporary event permit, the
applicants submitted a request to renew their annual Bingo Permit to allow games at the festival and during other events throughout the year . Attached for the City Council's
consideration is the application for the Bingo Permit, departmental memorandums with recommended conditions, and inspections and/or investigation reports.

Staff respectively recommends that the City Council issue the annual Bingo Permit with the conditions set forth by each department.

FINANCIAL IMPACT/COST:

ATTACHMENTS:

Application.pdf
Planning Memo.pdf
Gardena Police Dept Memo.pdf
LA CO Fire Memo.pdf

APPROVED:
___________________________________
Clint Osorio, City Manager

CITY OF GARDENA

NOTICE OF CANCELLATION

PLANNING & ENVIRONMENTAL QUALITY COMMISSION

NOTICE IS HEREBY GIVEN that the regular meeting of the
Planning & Environmental Quality Commission scheduled for Tuesday, June 3, 2025, has been cancelled.

The next regularly scheduled meeting will be held on June 17, 2025, at 7:00 p.m. in the Council Chamber at City Hall, 1700 West 162nd Street, Gardena, CA 90247.

Dated this 30
th day of May 2025.

/s/ MINA SEMENZA
City Clerk

PLANNING AND ENVIRONMENTAL

QUALITY COMMISSION
Regular PEQC Meeting Notice and Agenda
Website: www.cityofgardena.org
Tuesday, June 17, 2025 – 7:00 PM
Council Chamber at City Hall
1700 W. 162nd Street, Gardena, California

6. PUBLIC HEARING ITEMS

6.A ENVIRONMENTAL ASSESSMENT #15-24, CONDITIONAL USE PERMIT #5-24, SITE PLAN REVIEW #3-24, AND TENTATIVE PARCEL MAP #1-24
The Planning and Environmental Quality Commission considered staff’s request to open and continue the public hearing to the regularly scheduled meeting of the Planning and Environmental Quality Commission on July 15, 2025, at 7:00 PM in the Council Chamber.

The project requests a Conditional Use Permit (CUP #5-24) to allow warehouse operations in the General Industrial (M-2) zone in accordance with Section

18.46.030.C.18 of the Gardena Municipal Code; Site Plan Review (SPR #3-24) to permit the demolition of an existing 233,634sf single- tenant warehouse building and replace it with four (4) new warehouse buildings, with 15 tenant spaces, totaling 223,509sf, a new parking and circulation plan, lighting, fencing, and landscaping improvements; Tentative Parcel Map (TPM #1-24) to permit the merger of eight lot- tied parcels into one single parcel for the site development; and Environmental Assessment (EA #15-24) to consider the proposed project for a categorical exemption pursuant to CEQA Guidelines § 15302(b) Class 2, as a replacement or reconstruction of existing structures and facilities.

LOCATION: 1855 W. 139th Street, Gardena, CA 90249 (APN: 4061-025-130) APPLICANT: Terreno LLC

Commission Action: The Planning and Environmental Quality Commission approved the request, by vote of 3-0, to open and continue the public hearing, to the regularly scheduled meeting of the Planning and Environmental Quality Commission on July 15, 2025, at 7:00 PM in the Council Chamber.

City Council Action: No action needed.

7. OTHER ITEMS

7.A RECEIVE BROWN ACT TRAINING FROM THE CITY ATTORNEY'S OFFICE Assistant City Attorney, Rosemary Koo, provided Brown Act training for the members of the Planning and Environmental Quality Commission.

Commission Action: Received Brown Act training from the City Attorney’s office.

City Council Action: No action needed.

To view the complete Planning Commission agenda packet, CLICK HERE.

City of Gardena
Gardena City Council Meeting

AGENDA REPORT SUMMARY
Agenda Item No. 12.A
Section: DEPARTMENTAL

ITEMS - ADMINISTRATIVE

SERVICES
Meeting Date: June 24, 2025

TO: THE HONORABLE MAYOR AND MEMBERS OF THE GARDENA CITY COUNCIL AGENDA TITLE:

PUBLIC HEARING: RESOLUTION NO. 6703
: Adopting the City of
Gardena's Fiscal Year 2025-2026 Proposed Amended Budget COUNCIL ACTION REQUIRED:

Staff Recommendation:

Staff recommends that the City Council:

Open the public hearing;
Receive testimony from the public, allow three (3) minutes for each speaker Close the public hearing

Staff Recommendation for Motion:

Adopt Resolution No. 6703
RECOMMENDATION AND STAFF SUMMARY:

Presented for public hearing and City Council consideration is the City of Gardena's Proposed Amended Budget for Fiscal Year 2025-2026, which includes the General Fund, Enterprise Funds, Debt Service Funds, Capital Improvement Fund, Special Revenue Funds, and Internal Service Funds.

The Proposed Amended Budget is the second year of the originally adopted biennial budget which was June 2024. It consists of the Operating Budget and the Capital Improvement Program Budget for Fiscal Year 2025-2026. It incorporates the City Council's priorities by maintaining the long-term financial stability and sustainability, ensuring public safety, and enhancing quality of life. The Proposed Amended Budget is balanced with a General Fund surplus of $73,046 for the Fiscal Year 2025-2026.

The Proposed Amended budget was presented to the City Council and the public at the May 27, 2025 City Council meeting. It has been made available to the public for review on the City's website and at the City Clerk's Office. In addition, staff conducted a Community Budget Forum on June 18, 2025, at the Nakaoka Community Center. The budget public hearing tonight was publicly noticed in the Gardena Valley News on June 12, 2025 publication.

At the conclusion of this public hearing, staff recommends that the City Council adopt Resolution No. 6703, thereby adopting the Amended Budget for Fiscal Year 2025-2026.

Copies of the Amended Budget will be made available for the public review on the City's website at www.cityofgardena.org/city-budget/.

FINANCIAL IMPACT/COST:

Fund Types
Proposed Amended
Revenue Budget Fiscal
Year 2025-2026
Proposed Amended
Expenditure Budget Fiscal
Year 2025-2026
General Fund
$87,404,784
$87,331,738
Capital Improvement Program
(CIP) Fund
$70,409,320
$70,709,320
Special Revenue Funds
$51,335,418
$78,787,541
Enterprise Fund - GTrans
$45,218,369
$45,218,369
Enterprise Fund - Sewer
$2,612,500
$6,925,056
Internal Service Funds
$17,701,027
$19,134,778
Debt Service Funds
$8,617,853
$17,594,219
Total Proposed Amended
Budget Fiscal Year 2025-2026
$283,299,271
$325,701,021*
*The delta for total revenues and total expenditures for all funds is primarily due to the timing of use of Special Revenue Funds.

ATTACHMENTS:

Resolution No. 6703 - Adopting Amended Budget FY2025-26.pdf Proposed Amended Budget FY 2025-2026.pdf

APPROVED:
___________________________________
Clint Osorio, City Manager
1 RESOLUTION NO. 6703

A RESOLUTION OF THE CITY COUNCIL OF THE CITY

OF GARDENA, CALIFORNIA, ADOPTING AN AMENDED

BUDGET FOR SAID CITY FOR THE FISCAL YEAR
COMMENCING JULY 1, 2025, TO JUNE 30, 2026

WHEREAS, the Gardena Municipal Code provides that the City Manager of Gardena, California, shall cause a municipal budget to be prepared; and

WHEREAS, on June 25, 2024, the City Council adopted Resolution No. 6673, adopting the biennial budget, covering the fiscal years 2024-2025 and 2025-2026; and

WHEREAS, the fiscal year 2025 -2026 budget, which includes the annual operating and capital improvement program budget, covering the fiscal year commencing July 1, 2025, to and including June 30, 2026, has been reviewed by the City Council with regard to the approval of estimated revenues and expenditures; and

WHEREAS, the City Council has made such necessary revisions to the budget for the fiscal year 2025-2026 as presented by the City Manager;

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GARDENA , CALIFORNIA, DOES HEREBY FIND, DETERMINE, AND RESOLVE, AS FOLLOWS:

SECTION 1. That the City Council does hereby approve and adopt said one - year municipal budget for the City of Gardena for the fiscal year 2025 -2026 and, by this reference, is incorporated herein as if fully set forth.

SECTION 2. That copies of said budget be placed on file in the office of the City Clerk of the City of Gardena, California, open to public inspection.

SECTION 3. That, effective July 1, 202 5, the City Manager is hereby authorized to proceed with the implementation of the work program as incorporated in the approved and amended one-year budget; that he has the authority to transfer any sum of appropriated funds within a department or function, and that he may carry over as needed to future years’ funds approved in this budget for projects, capital improvements, and capital outlay. It shall be the responsibility of the City Manager to determine the priority in which increases in personnel and capital acquisition shall be programmed for accomplishment during this year consistent with the availability of revenue and subject to the requirements of the Gardena Municipal Code regarding the expenditure of funds and the employment of personnel.

SECTION 4. That this Resolution shall be effective immediately.

BE IT FURTHER RESOLVED that the City Clerk shall certify to the passage and adoption of this Resolution; shall cause the same to be entered among the original Resolutions of said City; and shall make a minute of the passage and adoption thereof Docusign Envelope ID: C8846072-1B0B-4DAC-A8F4-5B39CC5AAB53 RESOLUTION NO. 6703
2 in the records o f the proceedings of the City Council of said City in the minutes of the meeting at which the same is passed and adopted.

Passed, approved, and adopted this 24th day of June 2025.

TASHA CERDA, Mayor

ATTEST:

MINA SEMENZA, City Clerk

APPROVED AS TO FORM:

CARMEN VASQUEZ, City Attorney

Docusign Envelope ID: C8846072-1B0B-4DAC-A8F4-5B39CC5AAB53

Fiscal Year 2025
-
2026
Proposed Amended Budget

CITY OF GARDENA
www.cityofgardena.org

CITY OF

GARDENA
PROPOSED AMENDED BUDGET FISCAL YEAR 2025/2026

TABLE OF CONTENTS
SECTION 1 BUDGET MESSAGE AND GENERAL INFORMATION
City Manager’s Budget Message ......................................................................................................... i City Organization Chart ........................................................................................................................ 2 City Officials .......................................................................................................................................... 3 City Directory ........................................................................................................................................ 4 Budget Goal .......................................................................................................................................... 5 Budget Process .................................................................................................................................... 6 Budget Calendar ................................................................................................................................... 9 Budget Document Guide ...................................................................................................................... 10 Fund Structure ...................................................................................................................................... 11 Fund Descriptions ................................................................................................................................. 12 Accounting Principles and Policies ...................................................................................................... 15 Community Profile ................................................................................................................................ 19 City Map ............................................................................................................................................. 20 City Facilities and Properties ................................................................................................................ 21 City History Timeline ............................................................................................................................. 24 City Appointed Commissions, Corporations, etc. ................................................................................ 25 SECTION 2 PROPOSED AMENDED BUDGET SUMMARIES FISCAL YEAR 2025/2026 General Fund Revenue and Expenditures FY25/26 .......................................................................... 29 General Fund Historical Revenue and Expenditure Summary ........................................................... 30 General Fund – Fund Balances ........................................................................................................... 31 General Fund Top Five Revenue Sources .......................................................................................... 32 General Fund Revenues by Account ................................................................................................... 33 General Fund Long-Range Forecast ................................................................................................... 35 Summary of Fund Activity FY25/26 ..................................................................................................... 36 Summary of Revenues and Expenditures FY25/26 ............................................................................ 39

CITY OF GARDENA
PROPOSED AMENDED BUDGET FISCAL YEAR 2025/2026

TABLE OF CONTENTS
SECTION 3 DEPARTMENT PROPOSED AMENDED BUDGET FISCAL YEAR 2025/2026 Operational Organization Chart ........................................................................................................... 41 Citywide Staffing Plan ........................................................................................................................... 42 Elected & City Manager’s Offices ........................................................................................................ 43 Administrative Services ........................................................................................................................ 47 Community Development..................................................................................................................... 53 GTrans ..…. .......................................................................................................................................... 58 Police ..…. ............................................................................................................................................ 64 Public Works ........................................................................................................................................ 69 Recreation & Human Services ............................................................................................................. 75 Non-Departmental ............................................................................................................................... 81 SECTION 4 CAPITAL IMPROVEMENT PROJECTS, DEBT SERVICE, INTERNAL SERVICE Capital Improvement Projects (CIP) ............................................................................................... 85 Debt Service Funds ......................................................................................................................... 102 Internal Service Funds ..................................................................................................................... 109 SECTION 5 APPENDIX
Glossary of Terms ................................................................................................................................ 114 Abbreviations and Acronyms ............................................................................................................... 119 CITY MANAGER’S

BUDGET MESSAGE

PROPOSED AMENDED BUDGET
FY 2025/2026

CCIITTYY MMAANNAAGGEERR’’SS BBUUDDGGEETT MMEESSSSAAGGEE PPRROOPPOOSSEEDD AAMMEENNDDEEDD BBUUDDGGEETT –– FFIISSCCAALL YYEEAARR 22002255//22002266

HONORABLE MAYOR AND CITY COUNCIL:

Presented for the City Council consideration is the proposed amended budget for Fiscal Year 2025/2026. This is the second fiscal year of the originally adopted biennial budget. I am proud to present a budget that continues our organization’s longstanding tradition of excellence, innovation, and strategic planning. This proposed budget is balanced, forward-looking and a clear reaffirmation of our City’s values and priorities.

For the proposed amended budget, we are set to allocate $70.7 million for the Capital Improvement Program (CIP), of which $41.2 million budgeted for various streets, sewer and stormwater infrastructure improvements. This proposed amended budget reflects our commitment to growth, community enhancement, and fiscal responsibility.

Future City Facilities: The Community Aquatics and Senior Center is scheduled to be completed in 2025. This facility is not just a structure; this is a beacon of progress, designed to serve our community’s evolving needs.

Public Safety & Community Programs: Central to our budget are the public safety and community programs that touch the lives of our citizens every day. From recreational services to educational initiatives, we have allocated funds that will enrich our community’s social fabric and provide safety support services where it is most needed.

The proposed amended budget for Fiscal Year 2025/2026 has the largest proposed all funds expenditure budget in the City’s history of $325.7 million, which includes $87.3 million budgeted General Fund, $45.2 million budgeted for the City’s GTrans Enterprise Fund, $78.8 million budget for the City’s Special Revenue funds, $19.1 million in Internal Service Funds, $17.6 million in Debt Service Funds, $6.9 million in Sewer Fund, and $70.7 million in Capital Improvement Program budget.

As mentioned above, this proposed amended Capital Improvement Program (CIP) budget ensures that the City will maintain one of the best streets Pavement Condition Index (PCI) in California. In addition, the City continues to make significant capital investments with $29.5 million budgeted for parks and facility projects, including $10.4 million to complete the Gardena Community Aquatics & Senior Center project.

TASHA CERDA, Mayor
RODNEY G. TANAKA, Mayor Pro Tem
MARK E. HENDERSON, Councilmember
PAULETTE FRANCIS, Councilmember
WANDA LOVE, Councilmember

MINA SEMENZA, City Clerk
GUY MATO, City Treasurer
CLINT D. OSORIO, City Manager
CARMEN VASQUEZ, City Attorney

- ii -
FISCAL YEAR 2025/2026 PROPOSED AMENDED BUDGET:

Staff developed this proposed amended budget for Fiscal Year 2025/2026 starting in February this year. This is the second year of the original biennial adopted budget in June 2024. Placing a multi-year budget in place was intended to provide our community with fiscal security during rapidly changing political, social and economic periods. We remain committed to long-term fiscal sustainability by carefully preserving our organizational strength and proactively identifying opportunities to diversify and expand our revenue sources. As our community continues to grow and thrive, it is essential that we strategically allocate resources to support its development. Prioritizing both immediate needs and long-term investment will be key to our success. I am confident that this approach will enable us to navigate challenges effectively and improve the City’s long-term financial position.

The total City budget consists of General Fund revenues, Special Revenue Funds such as grant funds, and Enterprise Funds for the Transportation Department and City Sewer Maintenance Program. Only General Fund revenue is at the full discretion of the City Council for spending appropriations. All other revenues are otherwise restricted because of the funding sources. Budgeted expenditures are based upon an analysis of past expenditures in conjunction with revenue forecasts based on current economic conditions. For the proposed budget, the General Fund will be structurally balanced with a surplus of $73,046. Special Revenue Funds, however, are budgeted based on all available funds which includes the total of projected new revenue for the fiscal year and any carry-over funds which have already been received but have not yet been spent. Special Revenue Funds are structurally balanced including carry-over funds from the prior fiscal years.

The proposed amended budget shows a surplus with a General Fund revenue budgeted for Fiscal Year 2025/2026 at $87,404,784, and expenditures at $87,331,738, for a net surplus of $73,046, on June 30, 2026. Fiscal Year 2025/2026 total revenues for all funds, including transfers, are $283,299,271, with expenditures, including transfer out, at $325,701,021. The difference represents the use of fund balance in Special Revenue Funds.

FISCAL YEAR 2025/2026 GENERAL FUND PROPOSED AMENDED BUDGET:

For the proposed amended General Fund revenue budget, sales tax revenue is projected to fall $1.25 million compared to the originally adopted budget. This decline is primarily attributed to the prevailing economic conditions combined with tariffs, which have led to reduced consumer spending. The table below presents the adjustments made to the originally adopted budget.

- iii -
GENERAL FUND PROPOSED AMENDED BUDGET FISCAL YEAR 2025/2026

Revenue Sources Originally Adopted Fiscal Year 2025-2026 Proposed AmendedFiscal Year 2025-2026 Change in $ Sales and Use Tax 29,229,496$ 27,973,537$ (1,255,959.00)$ Property Tax 11,026,232 11,176,231 149,999 Vehicle License Fees 9,352,922 9,352,922 - Card Club Gross Revenue Fees 9,166,202 9,166,202 - Utility Users Tax 6,897,442 7,167,001 269,559 Business License Tax 3,213,000 3,013,000 (200,000) Franchise and Other Taxes 5,386,539 5,637,716 251,177 License and Permits 2,127,013 2,127,013 - Fines and Forfeitures 901,250 861,128 (40,122) Investment Income 730,000 880,000 150,000 Intergovernmental 558,775 558,775 - Current Service Charge 2,940,906 2,940,907 - Other Revenue 512,036 512,036 - Transfer In 3,889,000 2,953,259 (935,741) Charges to Other Funds 3,078,336 3,085,057 6,721 TOTAL REVENUES 89,009,149$ 87,404,784$ (1,604,366)$ Department Expenditures Adopted Fiscal Year 2025-2026 Proposed AmendedFiscal Year 2025-2026 Change in $ Police 38,323,176$ 38,433,565$ 110,389$ Public Works 7,692,514 7,557,665(134,849) Recreation & Human Services 6,985,433 6,740,163(245,270) Community Development 3,564,934 3,615,115 50,181 Administrative Services 3,485,722 3,445,815(39,907) Elected and City Manager Offices 2,895,320 2,895,660 - Non-Departmental including Fire and RCC 16,465,547 16,536,348 70,801 Transfers Out 9,476,933 8,107,407(1,369,526) TOTAL EXPENDITURES 88,889,579$ 87,331,738$ (1,557,841)$ REVENUES OVER EXPENDITURES 119,570$ 73,046$ (46,524)$

- iv -

COUNCIL POLICY DIRECTION
The City Council’s focus and commitment to our community, in conjunction with the efforts of management and staff, resulted in the following:
 Proposed Amended CIP Budget for FY 2025/2026 is $70.7 million o $10.4 million for the Gardena Community Aquatics & Senior Center project o $8.8 million for Mas Fukai Park Improvement project
o $10.3 million in community facility improvements and upgrades o $35.1 million in street & pedestrian improvement projects to maintain the best streets in California o $6.1 million in storm drain & sewer improvement projects

 Proposed Amended General Fund Budget FY 2025/2026 is $87.3 million with a surplus of $73,046 o Included $1.1 million for the Aquatic & Senior Center operation and expanded senior programs

 The City continues in its efforts of transparency. See QR codes below to access the Financial Transparency Dashboard and the proposed budget document.

ACCESS THE PROPOSED AMENDED BUDGET HERE: ACCESS THE FINANCIAL DASHBOARD HERE:

- v -
IN CONCLUSION:

The Fiscal Year 2025/2026 proposed amended budget has been developed to strike a thoughtful balance between the short-term and long-term. What I hope to accomplish with this budget is to provide the Council with a comprehensive framework with which to make decisions. Decisions that are being made now will help maintain sustainability that will serve Gardena well in the future.

I would like to acknowledge Department Heads, Budget Coordinators, and the Administrative Services Budget Team, under the direction of Ray Beeman, Director of Administrative Services, who worked as a cohesive team to complete our annual proposed amended budget. I also want to thank the leaders of the Gardena Police Officers Association (GPOA), the Gardena Management Employees Organization (GMEO), and the Gardena Municipal Employees Association (GMEA), who are an important part of the team, as they faithfully represent the interests of their membership and work with City management for the benefit of this community.

Respectfully submitted,

CLINT D. OSORIO, MPA
City Manager

GOVERNMENT FINANCE OFFICERS ASSOCIATION
Distinguished
Budget Presentation
Award

PRESENTED TO
City of Gardena
California
For the Biennium Beginning
July 01, 2024
Executive Director

HIGHER QUALITY OF LIFE
…ACHIEVED BY CONSISTENT & CONTINUOUS IMPROVEMENT

OUR MISSION
The elected leadership and employees of the City of Gardena individually and collectively are committed to maintaining an efficient and effective government that ensures the highest quality of life, a safe and attractive environment, and a sound economic future for the community.

OUR VISION
We envision Gardena as one of the most desired communities in which to live, do business, work, and play in the South Bay.

OUR DUTY
As public servants it is our duty and our desire to provide reliable service guided by our commitment to these Core Values.

ORGANIZATIONAL VALUES
• Fiscal Accountability & Sustainability
• Workforce Excellence
• Community Involvement

COMMUNITY VALUES
• Safe Community Environment
• Sustainable Economic Development
• Attractive & Livable Neighborhoods

GENERAL INFORMATION
1 CITY OF GARDENA ORGANIZATION CHART

CITIZENS OF GARDENA
ELECTED & CITY MANAGER’S OFFICES

ELECTED MAYOR

ELECTED CITY COUNCIL

ELECTED CITY CLERK

ELECTIONS & PUBLIC RECORDS

ELECTED CITY TREASURER

PUBLIC FUNDS & INVESTMENTS

APPOINTED COMMISSIONS
& BOARDS

PLANNING & ENVIRONMENTAL QUALITY

COMMISSION

GARDENA ECONOMIC BUSINESS ADVISORY

COMMISSION
GTRANS

TRANSIT ADMINISTRATION

TRANSPORTATION OPERATIONS

ON-DEMAND

TRANSIT EQUIPMENT & FACILITIES

RECREATION & HUMAN SERVICES

PROGRAM & FACILITY ADMINISTRATION

RECREATION & LEISURE SERVICES

SPORTS LEAGUES

SPECIAL EVENTS

YOUTH, FAMILY & SENIOR SERVICES

COMMUNITY DEVELOPMENT

PERMITS & LICENSING

BUILDING & PLANNING

BUSINESS LICENSE ENFORCEMENT

ANIMAL CONTROL & CODE ENFORCEMENT

ECONOMIC DEVELOPMENT
POLICE

POLICE ADMINISTRATION

POLICE OPERATIONS

POLICE SUPPORT SERVICES

TRANSIT SECURITY

PUBLIC SAFETY & INFORMATION

EMERGENCY PREPAREDNESS

PARKING ENFORCEMENT
GJJIP

PUBLIC WORKS

PARKS & GROUNDS MAINTENANCE

TREE TRIMMING (CITYWIDE)

CITY FACILITIES MAINTENANCE

STREETS & TRAFFIC SIGNALS/SIGNS

SANITATION, RECYCLING, SEWERS

ENGINEERING & CAPITAL PROJECTS

EQUIPMENT MAINTENANCE

HUMAN SERVICES COMMISSION

RECREATION & PARKS COMMISSION

SENIOR CITIZENS COMMISSION

YOUTH COMMISSION

FIRE SERVICES
(CONTRACTED) - LA COUNTY

CONSOLIDATED FIRE PROTECTION

DISTRICT

ADMINISTRATIVE SERVICES

FISCAL RESOURCES

TECHNOLOGY RESOURCES

RISK MANAGEMENT

INVESTMENTS

PURCHASING

HUMAN RESOURCES

APPOINTED CITY MANAGER

ORGANIZATION ADMINISTRATION

POLICY DEVELOPMENT/IMPLEMENTATION

STRATEGIC PLANNING

CITIZEN, BUSINESS, AGENCY RELATIONS

INTERGOVERNMENTAL RELATIONS

CITY ATTORNEY
(CONTRACTED)

RENT MEDIATION BOARD

GARDENA BEAUTIFICATION COMMISSION
2 CITY OFFICIALS

MAYOR AND CITY COUNCIL
Tasha Cerda, Mayor
Occupation: Insurance Agent
Elected: City Clerk – March 2009
Appointed: Councilmember – September 2009
To fill unexpired term due to resignation of Councilmember Elected: Councilmember – March 2011
Elected: Councilmember – March 2013
Elected: Mayor – March 2017
Elected: Mayor – June 2022
Current Term Expires: June 2026
Rodney G. Tanaka, Mayor Pro Tem
Occupation: Retired Police Lieutenant/Licensed Pastor
Elected: Councilmember – March 2017
Elected: Councilmember – June 2022
Current Term Expires: June 2026
Mark E. Henderson, Councilmember
Occupation: Administrator
Elected: Councilmember – March 2015
Elected: Councilmember – March 2020
Elected: Councilmember – March 2024
Current Term Expires: March 2028
Paulette C. Francis, Councilmember
Occupation: Teacher
Elected: Councilmember – March 2020
Elected: Councilmember – March 2024
Current Term Expires: March 2028
Wanda Love, Councilmember
Occupation: Chamber Director/Business Owner
Elected: Councilmember – June 2022
Current Term Expires: June 2026

CITY CLERK AND CITY TREASURER
Mina Semenza, City Clerk
Occupation: Real Estate
Elected: City Clerk – March 2013
Elected: City Clerk – March 2017
Elected: City Clerk – June 2022
Current Term Expires: June 2026
Guy H. Mato, City Treasurer
Occupation: Businessman
Elected: City Treasurer – June 2022
Current Term Expires: June 2026

APPOINTED OFFICIALS
Clint D. Osorio, City Manager
Appointed City Manager in December 2019
Carmen Vasquez, City Attorney
Appointed as City Attorney in January 2020
Lisa Kranitz, Assistant City Attorney
Appointed as Assistant City Attorney in February 2009
Rosemary Koo, Assistant City Attorney
Appointed as Assistant City Attorney in March 2025
EXECUTIVE STAFF – (All Appointed)
Todd Fox, Chief of Police
Ernie Crespo, Deputy City Manager/Director of Transportation Ray Beeman, Director of Administrative Services
Greg Tsujiuchi, Director of Community Development
Allan Rigg, Director of Public Works
Stephany Santin, Director of Recreation & Human Services Brian Kane, Los Angeles County Assistant Fire Chief
3 DIRECTORY
City of Gardena
1700 West 162nd Street
Gardena, CA 90247-3778
Telephone: (310) 217-9500 Fax: (310) 217-6119 Website: www.cityofgardena.org

For comments or questions regarding this publication, please contact the Administrative Services Department at (310) 217-9516

ELECTED & CITY MANAGER’S OFFICES
Mayor
Tasha Cerda (310) 217-9507

Mayor Pro Tem
Rodney G. Tanaka (310) 217-9507

Councilmembers
Mark E. Henderson ( 310) 217-9507
Paulette C. Francis (310) 217-9507
Wanda Love ( 310) 217-9507

City Clerk’s / City Treasurer’s Office
City Clerk
Mina Semenza (310) 217-9565
Deputy City Clerk
Becky Romero (310) 217-9566
City Treasurer
Guy H. Mato (310) 217-9664
Deputy City Treasurer
Vacant (310) 217-9693

City Manager’s Office
City Manager
Clint D. Osorio (310) 217-9503
City Attorney
Carmen Vasquez (310) 217-9544
Assistant City Attorney
Lisa Kranitz
Rosemary Koo

ADMINISTRATIVE SERVICES
Director
Ray Beeman (310) 217-9502

COMMUNITY DEVELOPMENT
Director
Greg Tsujiuchi (310) 217-9526

GTRANS
Deputy City Manager/Director
Ernie Crespo (310) 965-8888

POLICE DEPARTMENT
Chief of Police
Todd Fox (310) 217-9601

PUBLIC WORKS
Director
Allan Rigg (310) 217-9570

RECREATION & HUMAN SERVICES
Director
Stephany Santin (310) 217-9537

LA County Fire Department
Assistant Fire Chief
Brian Kane (310) 329-3315
Gardena Station 162nd Street
Gardena Station 135th Street

4 BUDGET GOAL
To develop and maintain a structurally balanced budget that maximizes all City resources necessary to build, sustain, and enhance the City’s future.

BUDGET TEAM
CITY MANAGER – CLINT D. OSORIO

DIRECTOR OF ADMINISTRATIVE SERV
ICES DIRECTOR – RAY BEEMAN
Budget Managers –
Khoi Quach, Danny Rodriguez, Yurina Kim, Diana Rodriguez

BUDGET COORDINATORS
Capital Improvement Projects
– Allan Rigg, Kevin Kwak
Community Development – Greg Tsujiuchi, Jackie Choi, Georgina Placido Elected and City Manager’s Offices - Alejandra Orozco, Becky Romero, Katherine Rhee, Tiffany Alcaraz, Anahi Corte
GTrans - Ernie Crespo, Dana Pynn, Jennifer Abro, Charles Santos Police – Todd Fox, Matthew Hassoldt, Mayra Maciel
Public Works – Allan Rigg, Kevin Kwak, Kevin Thomas, Kim Nolan, Hong Lee Recreation & Human Services - Nikki Sweeney, Nicola Howard, Christina Weldin, Adrianna Renteria 5 BUDGET PROCESS
MISSION OF THE BUDGET PROCESS: To help decision makers make informed choices about the provision of services and capital assets and to promote stakeholder participation in the process. - Government Finance Officers Association (GFOA) BUDGET
GOAL: To develop and maintain a structurally balanced budget that maximizes City resources necessary to build, sustain and enhance the City’s future.

Preparation and adoption of the fiscal year budget is guided by the following five organizational principles set by the City Council:

1. Fiscal Integrity and Long-Term Financial Stability

2. Quality Economic Development

3. Workforce Excellence

4. Continually Improving Quality of Life for Residents

5. Maintaining an Attractive, Vital Livable Community

BUDGET O
BJECTIVES: These organizational principles translate into the following budget objectives:

1. Establishing budgetary and fiscal policies that address current needs and set the foundation for future decisions.

2. Adopting a structurally balanced budget with realistic annual revenue project ions and expenditures below revenue
projections.

3. Pursuing grant and other special funds to augment City services in specific program areas.

4. Building adequate reserve funds to meet the City’s current and future obligations.

5. Creating public -private partnerships with mutual economic and service benefit.

6. Setting charges and users fees to recover City costs for providing services as much as possible but without
overburdening citizens, businesses, and property owners.

7. Replacing or upgrading vehicles and other capital equipment based on comparative cost of required maintenance for safety and performance efficiency.

8. Implementing efficiencies in service delivery and departmental operations that improve customer service and the quality of life in the community.

9. Enhancing employee skills and compensation to attract and maintain the best qualified staff and highest level of public service possible.

10. Providing superior public safety including community -based policing to reduce crime.

11. Providing community service programs that meet a variety of interests and needs.

12. Improving the public image and physical appearance of the City with proper maintenance of public right s-of-way and code enforcement of private properties.

BUDG

ET ROLES AND RESPONSIBLITIES
Citize
ns, property owners and businesses are encouraged to share ideas and provide input concerning the community and budgetary programs. This can be accomplished by discussing issues with City’s commissions and committees or directly with program managers.

Citizen input received during public hear ings or other correspondence is not only invited but needed to ensure that public needs are met.

Fina
nce Committee, comprised of two councilmembers (appointed by the Mayor) and the City Treasurer, reviews the City’s revenues and 6 BUDGET PROCESS
expendit
ures each quarter and the City Manager’s proposed budget before submitting to the City Council for adoption.

City C
ouncil provides direction for the preparation of the budget through adoption of polic ies and ongoing input. Council is responsible for the review and adoption of the City budget.

City Man
ager is responsible for:
 providing staff direction for budget preparation
 considering departmental budget requests and requests for supplemental budget items
 reviewing projected revenues and expenditures with the Director of Administrative Services
 formulating a comprehensive budget proposal for
submission to the City Council
 presentation of a proposed budget
 overseeing budget administration throughout the fiscal year
Direct
or of Administrative Services is responsible for:
 evaluating and reporting the City’s fiscal condition
 providing comprehensive revenue forecasts
 providing budget orientation and training to all
departments
 monitoring budget throughout the year and providing
updates to the City Manager and City Council

OVERVIEW O

F CITY BUDGET PROCESS
The Cit
y’s annual budget process commences in February with the distribution of the updated Budget Manual that details the City’s general budgetary policy and the specific goals and objectives for the upcoming fiscal year. Departments are given specific instructions and timelines, the City’s chart of accounts, a rate schedule for apportioned cost s such as liability and health insurance, and budget forms and formats.

Each depar
tment head is required to select a responsible individual in the department to be the Budget Coordinator. Following the budget kickoff by the City Manager and Director of Administrative Services , all correspondence and meetings are conducted with the departments’ Budget Coordinators and the Finance Budget Team.

In Marc
h, the Director of Administrative Services provides the City Manager with the tentative General Fund Revenue Projections. These set the parameters for the development of a budget. In turn, the preliminary departmental budget worksheets are returned to the Fiscal Resources Division with instructions for modified expenditure requests based upon the available monies projected.

Targ
et Budget Requests: It is the responsibility of each department to submit, as part of the budget request to the City Manager, a complete Statement of Justification. The statement must provide a formal and comprehensive explanation and justification of the proposed departmental budget program. This is important because the initial budget request submitted by each department is based on maintaining the current level of service. The “Target Budget” provides a point of origin for the detailed study and evaluation of each budget request by the City Manager compared to available revenue. The Target Budget has four basic components:

1. Prop
osed Work Plan: Department and program narratives,
major accomplishments for fiscal year ending, major goals and objectives for the new fiscal year, workload/performance indicators and projected revenues/cost recovery from
department programs.

2. Prop
osed Staffing Plan: Departmental organization chart,
personnel worksheets (benefits calculations), personnel schedules, staffing levels, and personnel by program activity.

3. Prop
osed Spending Plan: Department line- item worksheets,
expenditure request worksheets, justification statements (if required), computer repair and replacement fund summary and capital expenditures one- year request and justification statement.

4. Revenue
Projections: Department revenues based on the
fees collected as part of the department’s operation. Emphasis 7 BUDGET PROCESS
is placed on maximizing cost recovery as appropriate and justification for new or increase in existing fees.

Supple
mental Budget Requests: Separate from the Target Budgets, departments submit a “wish list” of additional personnel, new or replacement equipment, or funding for new or expanded programs. All Supplemental Budget Requests are reviewed jointly with priority given to funding requests that best meet the objectives for the fiscal year and improve services across departmental lines. Unfunded requests are set aside until additional funding can be identified. This process will be expanded over the next fiscal year with a goal of developing a multi -year budgeting plan for rebuilding staffing levels, equipment replacement and program expansion.

Capital O
utlay Requests: Capital requests are submitted separately with priority given to the replacement of aging and outdated equipment.

With the establishment of the “Technology” fund in 2002 to protect the City’s investment in technology by ensuring funds to properly maintain and replace equipment when needed. This is funded through departmental contributions based on a usage formula.

City Manager’s Review: At the end of April, the City Manager reviews a draft budget summary presented by the Director of Administrative Services. Following the review and approval, the Proposed Budget, or City Manager’s Budget as it is sometimes called, is finalized and printed for distribution. Much of the focus of the annual budget process is on General Fund programs since this is the only funding area that is fully discretionary. Grant funded programs follow a similar process but are more specifically directed by the regulations of the particular funding source. The City’s adopted budget incorporates all City programs and specifically identifies the funding source for each.

Prelimi nary Budget: In May, a preliminary budget document is created, and the City Manager meets independently with each department head to review the department’s goals, objectives, programs and funding needs for the upcoming fiscal year. It is also the department head’s opportunity to ensure that all the needs of his/her department are understood and carefully considered in the allocation of funds.

Budget Hearing:

A public workshop hearing is held approximately one
month before the a doption of the City’s budget for the upcoming fiscal year. The City Manager presents to the Council the overall goals and objectives for the fiscal year, along with a review of significant factors affecting proposed revenues and expenditures.

Public comment is heard throughout the month and revisions may be made to the budget as directed by the City Council.

Adoption: City Council shall adopt the budget by Resolution at the conclusion of the budget hearings. The adoption of the budget must occur prior to July 1, which is the beginning of the new fiscal year.

Budget C
ontrol and Amendments : Since the budget is a planning document, throughout the fiscal year there may be a need for adjustments in the spending plan. As new revenues are identified, or unexpected expenditures arise, departments may need to re- prioritize the expenditure plan for their operations. If the modification can be made within the department’s approved appropriation, then the Department Head may make a written request for a budget transfer to reallocate funds as needed. The budget transfer request is sent to Fiscal Resources for review and approval. Accounting staff verifies that funds are available as requested, and the Director of Administrative Services approves the transfer. However, if the department is unable to make the needed adjustments within their department appropriation, additional approval is needed. The City Manager is authorized to transfer funds between departments. However, additional appropriation must have the approval of the City Council.
8 BUDGET CALENDAR - FISCAL YEAR 2025-2026 PROPOSED AMENDED BUDGET

Febru
ary 7, 2025 Distribution of the budget packets to all departments March 7, 2025 Department supplemental requests due to Finance for review. New grants or revenue sources due to Finance.

Week of March 17, 2025 During this period , Finance staff w ill review the supplemental requests with each department, developing a plan of action for the FY 2025/26 performance goals and narratives. Update the CIP projects and develop the CIP budgets.

March 24, 2025 Finance updating personnel worksheets and revenue estimates Week of April 14, 2025 City Manager meets with Department Directors to discuss supplemental budget requests Week of April 28, 2025 Finance Review/Update Internal Service Funds and develop/update CIP budget May 27, 2025 Proposed Amended Budget FY 2025/26 presented to City Council and the public for review May 23, 2025 -
June 24, 2025 Public Review period for FY 2025/26 Proposed Amended Budget June 18, 2025 Community Budget Forum
June 24, 2025 Budget Public Hearing and Adoption of Amended Budget FY 2025/26 and Gann Resolution for FY 2025/26 9 BUDGET DOCUMENT GUIDE
The “Adopted Budget” is the document that sets the expenditure policies for all monies received by the City. The budget is based on a “fiscal year” that begins each year on July 1 and ends twelve- months later on June 30. City staff develops a proposed budget under the direction of the City Manager. The “Proposed Budget” is presented at a Public Hearing with the City Council for consideration.

The City Council makes whatever changes they deem appropriate and vote to adopt the budget for the next fiscal year.

The budget is designed to give the City Council a clear roadmap of the City’s expenditure needs and available resources so that the Council can make sound budgetary decisions. It is through the appropriation of funds that the Council sets the program and project priorities for the ensuing fiscal year. This one-year budget is presented to the City Council for consideration. This proposed amended budget will cover fiscal year 2025-2026.

The budget document begins with the City Manager’s budget message, which provides an overview of the Fiscal Year Operating Budget by highlighting programs and major projects. Economic factors, changes in revenue, expenditures, and staffing levels are also addressed in the budget message. The budget document is divided into the following sections:
 Budget Message
 Introduction
 Budget Summaries
 Operating Budget – General Fund with corresponding
Special Revenue Funds
 Operating Budget – Enterprise Funds
 Debt Service Funds
 Internal Service Funds
 Capital Improvement Program
 Appendix
The Budget Summaries section provides revenue and expenditure analysis. This section presents historical data for comparative purposes along with staffing levels.

The Operating Budgets section contains program description and public service goals. All Special Revenue Funds are grouped by operating department to provide a complete picture of department resources and functions.

The Appendix section contains the glossary of terms, abbreviations and acronyms, and index.
10 CITY OF GARDENA FUND STRUCTURE

BUDGETARY FUNDS
Governmental Funds Proprietary Funds
General Fund
Major Fund
(See description)
Debt Service
Funds
Enterprise
Funds
Internal Service
Funds
Special Revenue
Funds
Capital
Improvement
Funds - Major
GTrans
Major Fund
(See description)
Sewer
Fund
–Self Insurance Liability
–Self Insurance Workers Comp
–Self Insurance Health Benefit
–2006 A Refunding COPs
–2007 A Refunding Revenue Bonds
–2014 Taxable Lease Revenue Refunding Bonds
–2020 Taxable Pension Obligation Bond
–2021 Lease Revenue Bond
–Bicycle & Pedestrian Program
–Caltrans
–Department of Transportation
–Measure M – Local
–Measure R – Local
–Measure A
–PROP C Local Return
–SB1
–Metro Regional
–PROP 68
–Park Land In Lieu
–State Earmarks
–Asset Seizure – Federal and Non-Federal
–California Office of Traffic Safety (OTS)
–Community Development Block Grants
–Consolidated Street Lighting District
–Department of Justice (DOJ)
–Federal Earmarks
–FEMA COVID-19
–Police Department Grants
–Post Employment Benefits Fund
–Senior Bureau Grants
–South Coast AQMD
–State Gas Tax
–Supplemental Law Enforcement (SLESF)
A major fund is classified as any fund which is at least 10% of the total appropriation 11 FUND DESCRIPTIONS
GENERAL FUND (Major Fund)
The General Fund is the chief operating fund of the City and the only totally unrestricted fund that can be used for general operating expenses such as public safety, parks, recreation, engineering, planning and administration .

SPECIAL REVENUE FUNDS (Grants)
Currently the City receives additional funding from various sources to provide many services which otherwise would be impossible for the City to support. Special revenue funds are restricted to a specific purpose and for a certain time frame. Continued or new funding is based on the federal, state or county which is providing the resources. The City is always seeking new grants for the betterment of the citizens and community .

Following is a description of the major grant funding that the City receives.

Artes
ia Landscaping District: To account for monies received for the maintenance of medians on Artesia Boulevard.

Ameri
can Rescue Plan: Funding to address the devastating economic and health effects of the COVID-19 pandemic.

Asset Sei
zure: Monies seized from criminal activities and used solely for law enforcement purposes.

Community Development Block Grant (CDBG): The CDBG program works to ensure decent affordable housing, to provide services to the most vulnerable citizens in our communities, and to create jobs through the expansion and retention of businesses. This f ederal funding is received through the Department of Housing and Urban Development ( HUD) and is an important tool for assisting local government in tackling the serious economic challenges facing the community.

Consolidated Street Lighting: To account for monies received for the maintenance and improvement of streetlights.

Fede
ral Earmarks: Fund provided by legislators for projects or programs that curtail the ability of the Executive Branch to manage critical aspects of the funds allocation process.

FEMA
COVID-19: This Treasury Department allocation provides funding to local government to support the public health response and lay the foundation for a strong and equitable economic recovery.

Gard
ena Family Childc are: This grant provides low-cost childcare to low -moderate income families as well as offering early education and development classes. This program through Cal SAFE also helps pregnant and parenting students and their children. These programs are funded through the California Department of Education.

Measure A
: To account for monies received for the improvement of parks and open spaces from the Los Angeles County Regional Park and Open Space District or RPOSD.

Measure M:

To account for monies received for the improvement of freeway traffic flow; expand the rail and rapid transit system; repave local streets, repair potholes, and synchronize signals; and to make public transportation more accessible, convenient, and affordable. 12 FUND DESCRIPTIONS
Measure R:

To account for monies received for the improvement of local street traffic flow; repave local streets, repair potholes, and synchronize signals; and to make public transportation more accessible, convenient, and affordable.

Measure W
: To account for monies received from the Los Angeles County for the improvement of water quality and stormwater infrastructure initiatives.

Poli
ce Grants: The Department of Justice, the California Office of Traffic Safety, and the Supplemental Law Enforcement Program provide funding to improve public safety. Grant funding pays for additional officers, improved technology, DUI checkpoints, gang enforcement programs, and pedestrian safety programs. Funding from these grants helps to promote public safety and awareness.

Post-Em
ployment Benefits Fund: This fund was set up to account for the City’s Other Post- Employment Benefits it pays to retired employees.

Prop
68: To account for monies received from the Statewide Park Development and Community Revitalization Program (SPP) administered by OGALS or Office of Grants and Local Services to create new parks and recreation opportunities in underserved communities across California.

Prop
C: To account for monies received for the reduction of local street traffic congestion; improve air quality; repave local street s and repair potholes; and to make public transportation more accessible, convenient, and efficient.

Publ
ic Works Regional Grants: The California Department of Transportation and the Los Angeles County Metro provide funding to improve pedestrian safety, traffic light enhancements, and street improvements.

Sena
te Bill 1 (SB 1): To account for monies received for the maintenance and rehabilitation and safety improvements on state highways, local streets and roads, and bridges and to improve the state’s trade corridors, transit, and active transportation facilities.

Senior Bureau Grants: In 1965 the federal government passed the Older Americans Act to provide grant funding for programs which benefit seniors. This includes nutrition programs in the community and for those who are homebound; programs for low -income minority elders; health promotion and disease prevention activities; in- home services for frail elders, and those services which protect the rights of older persons such as the long-term care ombudsman program.

South
Coast AQMD Fund: To account for monies received from motor vehicle tax and expended on programs to reduce air pollution which are necessary to implement the California Clean Air Act of 1988.

State Gas Tax: To account for monies received and expended from the state and county gas tax allocation.

State Earmarks: Fund provided by legislators for projects or programs that curtail the ability of the Executive Branch to manage critical aspects of the funds allocation process.

Traffic Safety: To account for monies received under Section 1463 of the Penal Code and expended on traffic safety. 13 FUND DESCRIPTIONS

CAPITAL IMPROVEMENT FUNDS
Are used to account for financial resources used for capital improvement projects.

DEBT SERVICE FUNDS
Are used to account for the accumulation of resources and payment of all general long- term debt obligations of the City.

PROPRI

ETARY FUNDS
A proprietary fund accounts for business type activities of the City that receive a significant portion of funding through user charges with the intent to fully recover the cost of service. The Enterprise and Internal Services Funds are proprietary type funds.

Enterprise Funds:

GTra ns (Major Fund) accounts for user charges, fees, federal, state and county grants and all operating costs associated with the operation of the City’s bus lines. Although the GTrans is a separately operating enterprise fund, it is still operationally a department of the City.

Sewe r Fund accounts for fees charged to users of the City’s sewer system. The fee is based upon the amount of domestic water used. The revenue is used to replace, rehabilitate, maintain, and improve the City’s sewer system.

Inter nal Service Funds:

The Internal Service Funds account for financing of goods or services provided by one City department to other departments of the Ci
ty on a cost-reimbursement basis and consist of the following funds:

Self-Ins urance Liability Fund
Self-Insurance Workers’ Compensation Fund
Self-Insurance Health Benefit Fund

FIDUCIARY FUNDS
Account for assets held by the City in a trustee capacity. Fiduciary funds are normally not budgeted because typically the trust agreement or law already provides adequate control over the trust fund resources. 14 ACCOUNTING PRINCIPLES AND POLICIES

FUND ACCOUNTING
The accounts of
the City are organized on the basis of funds and
account groups, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures as appropriate. Government resources are allocated to, and accounted for, in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. The financial section in this budget is grouped by generic fund types and broad fund categories as follows:

Govern
mental Funds Proprietary Funds
General Fund Enterprise Funds
Special Revenue Funds Internal Service Funds
Capital Improvement Fund
Debt Service Funds

BASIS OF

ACCOUNTING AND BUDGETING
The City’s Governmental Fund Types (General, Special Revenue, Debt Service and Capital Projects Funds) are accounted for and budgeted using the modified accrual basis of accounting. Revenues are recognized when they become measurable and available as net current assets. Revenue considered susceptible to accrual includes property taxes, sales taxes, interest and motor vehicle license fees.

Expenditures are generally recognized under the modified accrual basis of accounting when the related fund liability is incurred. An exception to the general rule is compensated absences not payable within one year, and interest and principal on long- term debt which are recorded when due.

Propri
etary Fund Types are accounted for on an “income
determination” or “cost of services” measurement focus. Accordingly, all assets and all liabilities are included on the balance sheets, and the reported fund equity (total reported assets less total reported liabilities) provides an indication of the economic net worth of the funds. The operating statements for the City’s Proprietary Fund Types report increases (revenues) and decreases (expenses) in total economic net worth. All Proprietary Fund Types are accounted for and budgeted using the accrual basis of accounting. Revenues are recognized when earned, and expenses are recognized when incurred.

FINANCIAL POLICIES
The following financial policies represent the long- standing principles and traditions which guide the City in its fiscal decisions.

FINANCE COMMITTEE
The City’
s Finance Committee is comprised of two c ouncilmembers, (appointed by the Mayor) and the City Treasurer. The Committee meets quarterly with the City Manager to review and make recommendations on the City’s budget, debt, and other financial actions.

AUDITING AND FINANCIAL REPORTING
• California state statute requires an annual audit of the books of account, financial records and transactions of all administrative departments of the City by Independent Certified Public Accountants.
• The City will produce annual financial reports in accordance with Generally Accepted Accounting Principles (GAAP) as outlined in Governmental Accounting, Auditing and Financial Reporting (GAAFR).

REVENUE POLI
CY
• The City will try to maintain a diversified and stable revenue system to shelter it from short run fluctuations in any one- revenue source.
15 ACCOUNTING PRINCIPLES AND POLICIES
• The Ci
ty will follow an aggressive policy of collecting revenues as established in 2002 using the City’s cashiering system. • The City will establish all user charges and fees at a level closely related to the full cost (operating, direct, indirect and capital) of providing the service. The City will continue to review fees/charges periodically.

INVESTMENT OF IDLE FUNDS
• The safeguarding of all public monies shall be of the highest priority. Public money shall not be invested or managed in any manner, which would jeopardize the safety of the principal pursuant to California Government Code Section 53635.
• The City’s investment policy is reviewed and approved annually by the City Council.
• Direct responsibility for managing the City’s investment portfolio rests with the City Treasurer.
• All investments are made in accordance with the following criteria, stated in order of priority: safety, liquidity and yield.

PURCHASING POLICY
• The City’s departments will purchase the best value obtainable, securing the maximum benefit for each tax dollar expended, while giving all qualified vendors an equal opportunity to do business with the City.
• All purchases with a total cost over $50,000 must be procured by a formal bid and can only be authorized and awarded by the City Council.
• Whenever possible, local vendors shall be included as sources for all purchases.

RISK MANAG

EMENT POLICY
• The City is self -insured against each general liability claim for the first $ 750,000 and each workers’ compensation claim for the first $500,000 and $750,000 for each GTrans claim against the City. The City carries insurance in excess of these amounts.
• The City’s role in managing its risk management program is to be pr oactive, in nature, which will be accomplished through careful monitoring of losses, working closely with the third -party administrator and designing and implementing programs to minimize risk and reduce losses.

FIXED ASSET POLICY
• To safeguard the investment in fixed assets.
• To use the fixed asset system as a management tool for replacement of recurring items to avoid duplication and inefficient use of fixed assets.
• To comply with state laws and regulations.
• To provide information for preparation of financial statements in accordance with GAAP with emphasis placed on completion of GASB 34 requirements.
• When disposing of fixed assets , every effort should be made to recover some of the original cost by selling and or trading in the fixed asset.

CAPITAL IMPROVEMENT POLICY
• The City will develop a multi -year plan for capital
improvements, update it annually and make all capital
improvements in accordance with this plan.
• Immediate capital replacement needs and smaller capital projects are funded on a pay -as-you-go basis through a budget transfer.
16 ACCOUNT

ING PRINCIPLES AND POLICIES
• Capital
improvements involve the outlay of substantial funds;
therefore, the City prioritizes the use of non- general fund monies to support these expenditures.

DEBT PO
LICY
• To provide for proper planning of capital expenditures, financing requirements and guidelines for issuance of various debt instruments.
• To hold borrowing costs at a minimum and maintain ratios within established standards.
• To secure favorable ratings and competitive lower interest rates on all types of borrowing instruments, thereby providing a savings to all taxpayers.

BORROWING INSTRUMENTS
• Tax and Revenue Anticipation Notes to be issued no more than once a year. Maximum maturity of notes will be twelve months from date of issue. Notes will be rated by Moody’s Investor Service, Standard and Poor’s Ratings Group or Fitch Investors Service, L.P.
• Certificates of Participation (COPS) can be used as a financial alternative for acquiring assets.
• Revenue Bonds – City Council will evaluate all requests. • Mello-Roos financing – City Council will evaluate all requests.

BUDGET – GENERAL POLICY
• City staff will present to the City Council a structurally balanced budget proposal that does not rely on “one- time” revenues .

Annual recurring expenditures will be funded with annual recurring revenues.
• The Cit
y Council will , by June 30 of each year , adopt a
structurally balanced operating and capital improvement spending plan for the ensuing fiscal year , where operating revenues are equal to, or exceed, operating expenditures. • The City will align and amend as appropriate its operating and capital spending plan with its strategic action plan priorities and economic development plan.
• City staff will complete and present a quarterly Budget and Economic Condition Analysis to the Finance Committee.

Recommended budget adjustments will be submitted to the City Council for consideration and approval.
• The City will establish and maintain a General Fund Reserve equal to at least twenty -five percent ( 25%) of its annual General Fund operating budget. The amount will be revised annually and such funds will be expended only with the
approval of the City Council.

BUDGET – REVENUE
• Revenue projections will be based on multiple sources of information including, but not limited to , historical trends, federal, state and regional economic forecasts, service levels, changes in legislation and mandates and other statistical resources generally available.
• The City will develop and incorporate into each spending plan revenue and expenditure projections for five (5) additional years into the future and amend the projection annually as part of the budget review.
• When projecting revenues, the City will take into consideration the diversity, volatility and stability of its revenue stream and will as much as possible base its core operating cost on historically stable revenue sources.
17 ACCOUNT

ING PRINCIPLES AND POLICIES
• The Cit
y will stabilize its revenue base by forecasting its annual operating expenditures on diverse revenue sources and limiting revenue growth projections in each revenue category.
• Revenues received in excess of the budgeted projections will be used for one-time expenditures or set aside as reserve.

BUDGET – EXPENDITURES
• Expenditures will be budgeted realistically for each expenditure category and can be adjusted internally as may become
necessary but will not exceed appropriation limits.
• Contingency funds will be included in the annual budget to provide funding for unanticipated operating cost increases, one-time purchasing opportunities and one- time emergency expenditures to repair equipment and facilities. Unexpended funds will carry-over to the next fiscal year.
• In considering reductions in service levels, program cuts, or staffing reductions, the city will first assess options to improve operational efficiencies and develop additional revenues to cover the cost to continue the existing level of public service with existing Budget Policies.
• Limiting Cost with Fees for Service: Certain services are used selectively by a limited number of participants and, therefore, are not mandated City services. These services are provided based on individual interest and are provided only as funding is available. To fund these programs without limiting basic services necessary for the general public, the City will perform a cost analysis to identify the city’s fully burdened cost for providing those services and , to the extent reasonable, set the fee based on full cost recovery. Such fees shall be updated frequently to ensure that the fees are reflective of actual city costs for the delivery of services.
• Unexpended funds within a fiscal year will be held in reserve or appropriated for one-time expenditures.

BUDGET – CAPITAL IMPROVEMENT
• Capital improvements will be financed primarily through special revenue funds, user fees, service charges, and developer agreements when benefits can be speci fically attributed to users of the facilities.
• The City will analyze the impact of capital improvements to ensure that operational and maintenance costs are balanced with on- going revenue to support facility operations.
18 COMMUNITY PROFILE – 2025
Gardena, California is a full-service city located just 13 miles south of metropolitan Los Angeles in the South Bay area of Los Angeles County.

Gardena is strategically located near the intersections of the Harbor (110), San Diego (405), and Gardena (91) Freeways and just south of the Anderson (105) Freeway.

Date of Incorporation September 11, 1930
General Law City 1955
Form of Government Council-Manager Form
County Los Angeles, Second Supervisorial District
State Representatives 62 nd & 66th Assembly Districts
35th Senatorial District
U. S. Representative 43rd U.S. Congressional District
Area 5.9
Square Miles
Population 60,2 63
Dwellings 22,9 33
Police Protection 91 sworn personnel and 36 marked units, including canine units.

Fire Protection City Fire Department services were
trans
ferred to the Consolidated Fire
Protection District of Los Angeles County
and became a contract service in October
2000.

Recreation and Parks 6 parks (approximately 39 acres) including 2 with
skate parks, 2 community centers, 1
municipal pool, 1 parkette, and 2
gymnasiums.

GTrans 52 b
uses and 5 Bolt On-Demand vehicles
19 ARTESIA BLVD.

ELECTRIC ST.

BLVD.
161st ST.

BLVD.

VERMONT AVE.

REDONDO

BEACH
BUDLONG AVE.

City Hall Administration Offices and Campus
Police Headquarters
Fire Department Headquarters
Fire Station 2
Public Works Building and Maintenance Yard
Kiyoto "Ken" Nakaoka Community Center
Human Services and James Rush Gymnasium

National Guard
Gardena Transit Administration, Operations, & Maintenance Facility Not To Scale
WESTERNNORMANDIE 182nd ST.
162nd ST.

GRAMERCY PL.
166th ST.
168th ST.
170th ST.

GARDENA
164th ST.
139th ST.

MARINE

MANHATTAN
BEACH BLVD.

ROSECRANS
147th
135th ST. CRENSHAWBLVD.

BUDLONG AVE.

WESTERN
GRAMERCY PL.

VAN NESSAVE.

ST.

AVE.
158th ST.

AVE.

EL SEGUNDO AVE.

HALLDALE AVE.

VERMONT AVE.

BLVD.
154th ST.
132nd ST.

B
C
D
E
F
G
9 6
2 5
4 8
3 1
160th ST.
1 2
3 4
5 6
7 8
9 Sister-City Parkette
Vincent Bell Memorial Park
Edward L. Thornburg Park
George H. Freeman Memorial Park
Mas Fukai Park
Paul A. Rowley Memorial Park
Arthur Lee Johnson Memorial Park
149thST.

SPINNING
PURCHE
154th PL.

HARVARD
7 BRIGHTON
A
LEGEND:

A
B
C
D
E
F
G
10 11
PURCHE AVE.
1 0 11
Gardena Community Aquatics & Senior Center
Rosecrans Ave. Community Center
10 20

CITY FACILITIES AND PROPERTIES
 City Hall Administrative Offices and Campus
1700 West 162nd Street
The Administrati ve Offices have approximately 25,975 square feet of building space, which includes City Council Chambers, a Council Chambers Conference Room, 32 administrative offices and 9 bathrooms.

The buildings were built in 1962 ; and in fiscal year 2001 -2002, the Administrative Office building was renovated with automatic sliding glass doors to comply with the Americans with Disabilities Act. The campus lawn in front of City Hall was dedicated on June 12, 1982 , as the Lucille Randolph Plaza , in honor of the City Clerk who served the City for twenty-three years.
 Police Headquarters
1718 West 162nd Street
The Police Headquarters has approximately 63,475 square feet of site area and approximately 23,690 square feet of building space that includes a one -story brick masonry police headquarters structure (Class C construction). Built in 196 3, the needs of the department have far outgrown the building ’s capacity. Separate modular units have been constructed in the parking lot , and on an adjacent property to serve as annex offices.
 Fire Station #158
1650 West 162nd Street
The Fire Department Headquarters has approximately 27,925 square feet of site area and approximately 17,975 square feet of building space, which includes a two -story brick masonry fire station building (Class C construction). The building was built in 1963 and is currently leased to the Los Angeles County Fire District. The City contracts with the Los Angeles County Fire District for the provision of fire services.  Fire Station #159
2030 West 135th Street
Fire Station 2 has approximately 26,140 square feet of site area and approximately 5,949 square feet of building space, which includes a pre - cast concrete fire station structure. The fire station structure was built in 1957 and includes an apparatus garage, offices, kitchen, dining area, chief’s quarters, dormitory and training tower. The fire station structure is currently leased to the Los Angeles County Fire District. The City contracts with the Los Angeles County Fire District for the provision of fire services.
 Public Works Building and Maintenance Yard
1717 West 162nd Street
The Public Works Building has approximately 11,825 square feet of building space, which includes 10 administrative offices and 5 bathrooms.

The buildings were built in 196 8 and 1990; and in fiscal year 2003 -2004, the building was renovated with automatic sliding glass doors to comply with the Americans with Disabilities Act. In addition, a City yard is adjacent to the Public Works Building to create a total land area of 1.850 acres.
 Kiyoto “Ken” Nakaoka Community Center
1670 West 162nd Street
The Community Center has approximately 17,137 square feet of building space, which includes 6 classrooms, 4 offices, a kitchen and an auditorium that can accommodate up to 280 people. The building was built in 1975 and dedicated June 7, 1975 . On December 13, 1989, an expansion was dedicated in honor of the first Japanese -American to be elected (1966) to a City Council position in the United States , and the first elected Mayor of the City. During fiscal year 2001 -2002, the Community Center was renovated with automatic sliding glass doors to comply with the Americans with Disabilities Act.

Located in the Nakaoka Community Center, the Lucien “Lou” Lauzon Memorial Auditorium was dedicated August 22, 1981, in honor of his active community support, which included serving as a member of the Citizens Advisory Committee and the Beautification Committee.  Human Services Building and James Rush Gymnasium
1651 West 162nd Street
The gymnasium has approximately 42,650 square feet of site area and approximately 20,700 square feet of building space, which includes a one-story masonry gymnasium (Class C construction). The building w as built in 1979. The Human Services Division offices are located in this 21 CITY FACILITIES AND PROPERTIES
building. The roof of the gymnasium was renovated in fiscal year 2002- 2003, and the administrative office of the gymnasium was renovated with automatic sliding glass doors in fiscal year 2004-2005 to comply with the Americans with Disabilities Act.

The gymnasium was rededicated as the James Rush Memorial Gymnasium in honor of the former Councilmember and Mayor of Gardena (1942 – 1956) on June 30, 1979.
 The Army National Guard
2100 West 154th Street
A portion of the former Municipal Transportation Facility , 1.72 acres , was sold for development of residential units in 2015. The remaining portion of the property is leased to the State of California for use as a National Guard post.
 GTrans Administration, Operations, and Maintenance Facility 13999 South Western Avenue
The new transit facility opened in May 2009, on a 9.1-acre site that accommodates a fleet of 100 buses, plus paratransit and support vehicles. The facility is designed as a “Green Building ,” emphasizing energy efficiency and environmental sensitivity and includes solar panels for power generation, bus simulators for operator training , and current technology in bus maintenance equipment.

The administration and operations building is approximately 24,000 square feet in area. The maintenance building is approximately 45,000 square feet with a 4,000 square foot bus-wash structure and 2,800 square foot fuel island. A photovoltaic panel shade structure provide s covered parking.
❿ Gardena Community Aquatic & Senior Center
1651 West 162nd Street
The proposed Senior Center, spanning approximately 12,000 square feet on two levels. The Senior Center will feature a reception/lobby, restroom, conference room, office, breakroom, storage room, and kitchen/pantry.

Additionally, shared use program rooms, a study lounge, and balcony will be available. The building will be equipped with fiber optic communication capability, an audiovisual system, security key cards, and photovoltaic system.

The new Aquatic Center will encompass 7,020 square feet and will include a 25-yard, 8-lane, ¾-meter diving stand, and pool exercise/leisure area. The Aquatic Center will feature a main entrance, outdoor showers, bleacher seating, seat walls, shade structures, a pool
equipment/mechanical room, and pool storage. The outdoor courtyard will accommodate exercise stations, ADA accessible drinking fountain, picnic tables, site lighting and furnishings, tree and shrub planting, irrigation, hardscape paving, walls, barbecue grill and lawn area, and ADA parking stalls, utility service lines and all other incidental elements. ⓫ Rosecrans Community Property
2500 West Rosecrans Avenue
Approximately 1.07 acres of land. This property was a cquired in September 2021 to be redeveloped for recreational or other civic use.

CITY PARK FACILITIES
(A) Sister-City Parkette - 160th Street/Harvard Boulevard Sister-City Parkette was renamed in August 2013 from Harvard Parkette.

The Parkette was dedicated in November 1958 as a neighborhood play area, is 0.19 acre and includes a slide and jungle gym, swings, and lunch benches.
(B) Vincent Bell Memorial Park - 14708 South Halldale Avenue This 1.87-acre park was dedicated on May 26, 1972 , in honor of a City Councilman who died in office shortly after his election in 1970. The facility is equipped with a recreation room, baseball diamond, outdoor basketball court, handball court, two tiny tot play areas, two picnic shelters, and a police office.
22 CITY FACILITIES AND PROPERTIES
(C) Edward L. Thornburg Park - 2320 West 149th Street
The Edward L. Thornburg 2.39-acre park wa s n amed for the developer who donated the land in 1953. The facility is equipped with a recreation room, baseball diamond, two outdoor basketball courts, hand ball court, tiny tot play area, picnic shelter, martial arts room, and horseshoe pit. (D) George H. Freeman Memorial Park - 2100 West 154th Place This 2.71-acre park was dedicated on April 11, 1957 , in honor of George Freeman, who served as t he first City Recreation Director. The park is equipped with two recreation rooms, a baseball diamond, basketball court, handball court, tennis court, tiny tot play area, picnic shelter, and police office.
(E) Mas Fukai Park - 15800 South Brighton Avenue

4.53 acres were purchased from the County and dedicated as a City park in 1960. In June 2000, the Gardena City Council rededicated Recreation Park as Mas Fukai Park. Masani “Mas” Fukai was elected to Council in 1974 and served until his retirement in 1998. Mas, as his friends and associates call him, also served for five years as the Chief Deputy to then Los Angeles County Supervisor Kenneth Hahn. The facility is equipped with three recreation rooms, three baseball diamonds, two basketball courts, a handball court, tiny tot play area, picnic shelter, and kitchen. (F) Paul A. Rowley Memorial Park - 13220 South Van Ness Avenue This 18.17-acre park was dedicated July 21, 1962, in honor of the first City Administrative Officer, 1959 – 1962. Mr. Rowley died of a heart attack in June 1962, while addressing a public affair at the park. The park was originally named Van Ness Park, when it opened in 1959. The expansion of the park facilities, which included the addition of a gymnasium, was dedicated February 12, 1990. The facility is equipped with two recreation rooms, a gymnasium, four baseball diamonds, three outdoor basketball courts (one full and two half) , a skate park opened in March 2012 , four tennis courts, two tiny tot play areas, three picnic shelters, a kitchen, auditorium, weight room, teen center, and police office.
(G) Arthur Lee Johnson Memorial Park - 1200 West 170th Street This 7.5-acre park, originally dedicated July 9, 1977 , as South Park, was rededicated on January 13, 2007 as Arthur Lee Johnson Memorial Park.

Arthur Johnson marched with Dr. Martin Luther King, Jr. in the civil rights movement, founded the Gardena Dr. Martin Luther King, Jr. Cultural Committee, and served as its president for twenty years . In 1973, his efforts made Gardena the first city west of the Mississippi to honor Dr.

King’s birthday with an annual commemorative celebration. Mr. Johnson served as a Planning and Environmental Quality Commissioner for twelve years. His many years of community service earned him the Gardena Black History Month Trailblazer Award and a place on the City’s Wall of Fame.

The Arthur Lee J ohnson Memorial Park is equipped with a recreation room, two basketball courts, a skate park opened in June 2012 , four tennis courts, a tiny tot play area, picnic shelter, soccer field, police shooting range, and entrance to the Gardena Willows Wetland. 23 CITY OF GARDENA HISTORIC TIMELINE
1930 Incorporation of City of Gardena on September 11, 1930 with a population of approximately 3,000.

Annexation of Western City on November 12, 1930.
2001 Eldorado Parking COP liquidated through agreement with Hustler for a net principal gain of $980,000.
2013 February Standard & Poor's raised the City's credit rating to A. 1936 First legal card club license in the State of California to Gardena.
2002 Eliminated the General Fund deficit a year ahead of schedule with a positive $1,048,182 balance on June 30, 2002.

Sold parking structure located at 1041 Redondo Beach Blvd.

Entered into sales agreement for 1.72 acres at
15350 Van Ness Avenue. September 2014, Standard & Poor's raised the City's credit rating to A+
1940 City bus service began on January 15,1940. Voters approved an increase in the Transient Occupancy Tax from 7% to 11% in November.
2014 Closed escrow on 15350 Van Ness Ave (former GTrans facility). Adopted 2016-2021 Five Year Strategic Plan. Council approved updated comprehensive fee resolution.
1953 Gardena Municipal Bus Lines moved to new location on Van Ness Avenue in November.
2005 Celebrated 75th anniversary. 2015 Adopted 2016-2021 Five Year Strategic Plan. Council approved updated comprehensive fee resolution. Civic Center 1954 City adopted its official seal and slogan
"Freeway City" on October 26, 1954.
2006 City Council approved settlement agreement with Sumitomo Trust and Union Bank that would restructure the $26 million debt on the failed First Time Homebuyer Program and the

2016 Mitchell Lansdell City Manager retires, Ed Medrano appointed Acting City Manager.
1955 Gardena was designated as a General Law City by action of the State Legislature.

December - City made a $2.6 million payment to Sumitomo Trust and Union Bank on the long-term $26 million debt
thereby ending the debt service obligation
Refinancing of the 2006 Series C Bond Debt. Reassesment of the Sewer Fees to ensure sewer upkeep.
1964 Adopted City flag. 2007 Received investment grade credit ratings:

Standard & Poor's BBB rating
Moody's Baa3 rating
2017 Ed Medrano appointed as City Manager.
1980 Received the All America City Award. Refinanced the South Bay Regional Communications Center debt at an improved interest rate.
2019 Clint D. Osorio appointed as City Manager
1982 Maintenance facility added at the Gardena Municipal Bus Lines.

Adopted 5 Year Plan 2007 - 2012. 2020 March 3, 2020 Measure G, collection of additional 0.75% sales tax to maintain city general services
1994 Council action limited the number of card clubs from six to two.

November 20, 2007 City Manager Mitchell G. Lansdell was awarded the Municipal Leader of the Year for his 10-year effort to lead the City out of financial crisis.

March 19, 2020 Novel Coronavirus Pandemic - COVID 19,
Stay-at-Home orders issued and City Hall closed to the public. 1995 Annexation of El Camino Village. 2009 May 2009 Gardena Municipal Bus Lines moved to new facility.

Dec 2009 Standard & Poor's raised the City's rating to A-.

December 2020 Pension Obligation Bond issued to refinance City's UAL effecting savings of $50 million. City revises Strategic Plan to address effects of COVID
1996 Employee committees formed to review revenues, operational efficiencies, and customer service. A fourth committee compiled the information for council consideration.
2010 June 30, 2010 General Fund reserves = $8,649,750 or 20%.

September 11, 2010, City will celebrate its 80th Anniversary with a population of approximately 61,927.
2021 Issuance and sale of Lease Revenue Bond to finance a portion of the cost of the Aquatic & Senior Center, the Rosecrans Community Center, and park improvements.

To reduce expenditures, Council implemented hiring freeze and a 2% decrease in appropriated expenditures for last six months of the fiscal year.
2011 April 1, 2011 UUT rate collection at the maximum of 5%.

Senior exemption eligibility reduced to age 60.

City is awarded an $8.5 million Prop 68 competitive grant as well as an $1.4 million appropriation for the Aquatic & Senior Center
1998 Council committed to a plan to eliminate the projected $5 million General Fund deficit with a $1 million set aside for the next five years.

May 10, 2011 Council adopted new fee resolution with an effective date of July 11, 2011.
2022 City was named Los Angeles County's
Most Business Friendly City
2000 The newest card club in the State, the Hustler, opened in June 2000.

September 2011, the City purchased the Goodwill property as well as property adjacent to the Police Department.
2023 Finalist for the All American City Award
Ending General Fund balance June 30, 2000 = ($2,719,574). 2012 Created "Super-Departments" as a transitional phase for operational efficiency and cost containment during succession planning.
24 CITY OF GARDENA COMMISSIONS, CORPORATIONS, AGENCIES, BOARDS, ADVISORY GROUPS,

COMMITTEES AND ASSOCIATIONS
The Mayor and City Council appoint members to Commissions, Corporations, Agencies, Boards, etc. to advise the City on important programs and policy decisions. Public participation, therefore, is a vital component of the City's governing system. In addition, there are other important Committee and Association members who meet on a regular basis but are not appointed by the Mayor and City Council. All of the meetings are open to the public.

APPOINTED COMMISSIONS

GARDENA BEAUTIFICATION COMMISSION
This Commission has a maximum of nine voting members who study and make recommendations to the City Council relating to the beautification and livability of all areas of the City of Gardena. The Chairperson is a member of the City Council. Five of the members are appointed by the City Council, and the remaining three at -large members are nominated by the Commission Chair and ratified by City Council. Commission projects include elimination of graffiti, beautification of streets and parkways; tree planting, and other related activities.

GARDENA ECO

NOMIC BUSINESS ADVISORY COMMISSION (GEBAC)
Established in May 2016, its mission is to promote economic opportunities by establishing and preserving a business and job friendly environment to attract and retain businesses, industry and commerce, that will enhance Gardena’s economic viability, financial stability, and improve the overall quality of life of its residents. GEBAC has the following goals:
• Promote new business development opportunities;
• Strengthen the relationship between the City and the business community;
• Support retention and attraction of diversified tax base for the long- term viability of the City;
• Provide support on issues affecting the economy and quality of life in the City
• Review City business practices and programs to ensure the City of Gardena remains business friendly
This Commission consists of eleven members from the business community within the City of Gardena. GEBAC meets the 3 rd Wednesday of
odd months.

GARDENA YO

UTH COMMISSION
The Youth Commission is composed of five members appointed by the City Council and five "at-large" members approved by the Commission and ratified by the City Council. The Commission identifies and evaluates youth and community issues and projects and makes recommendations to the City Council to resolve such issues. Commission members also work as volunteers with community groups, organizations, and Recreation and Human Services programs.

HUMAN SE

RVICES COMMISSION
The Human Services Commission is composed of five members who are responsible for the development and utilization of available resources to meet needs within the City. The Mayor and each Councilmember appoint one member. The Commission advises the Council on all matters relating to social conditions within the City, assesses and reports to the Council the social needs of the citizenry, and advises the Human Services Division regarding policy and program direction for meeting such needs and making appropriate recommendations to the Council.

PLANNING

AND ENVIRONMENTAL QUALITY COMMISSION
Composed of five members, this Commission was created in compliance with the State Government Code as an advisory agency to the City Council on all matters of land use and the environment. Its responsibilities are to investigate and report on the design and improvement of adopted subdivisions, and to submit reports and recommendations to the City Council on matters relating to zoning, land use, environment, the City's General Plan, and other related matters.

RECREATION AND PARKS COMMISSION
This Commission is composed of five members who advise the Council on matters relating to recreation and parks within the City. The Commission considers, advises, and/or recommends to the City Council the needs of the City pertaining to the acquisition, development, and use of facilities, buildings and structures for recreational and park purposes; promotes public interest in recreation and parks programs and regulations; and consults and confers with public officials and agencies, citizens, civic, educational, professional, and other organizations.
25 CITY OF GARDENA COMMISSIONS, CORPORATIONS, AGENCIES, BOARDS, ADVISORY GROUPS,

COMMITTEES AND ASSOCIATIONS

SENIOR CI

TIZENS COMMISSION
This Commission is composed of five members, appointed by the City Council, who advise them on all matters relating to the needs and concerns of the City's older adult population. The Commission coordinates its activities with those of the Affiliated Committee on Aging.

APPOINTED CORPORATIONS / AGENCIES / BOARDS

CITY OF GARDENA FINANCING AGENCY
The Agency was created in July 1991 as a Joint Powers Authority between the City of Gardena and the Gardena Parking Authority. The Agency provides for financing of the acquisition, construction and improvement of Public Capital Improvements, for working capital requirements, and for liability or other insurance programs of the City and the Parking Authority.

BOARD OF APPEALS
This board is comprised of the members of the Planning and Environmental Quality Commission, with the building official as an ex -officio member. The Board is governed by the same procedures as the Planning and Environmental Quality Commission. The Board determines the suitability of alternate materials and methods of construction and provides reasonable interpretations of the provisions of the Uniform Building Code. The Board also determines whether a building constitutes a menace to public safety, and whether repairs, alterations, or demolition are necessary to abate the menace to public safety.

HOUSING AP

PEALS BOARD
This Board, consisting of members of the Planning and Environmental Quality Commission, is authorized by the City Council to hear all appeals relating to violations of housing standards and is governed by the provisions of the Uniform Housing Code. The Community Development Director serves as secretary to the Housing Appeals Board.

RENT MEDIAT

ION BOARD
This fifteen-member Board is composed of five landlords, five tenants, and five members-at-large, all of whom are appointed by the City Council to assist citizens in mediating rental increase-related disputes.

APPOINTED ADVISORY GROUPS

FINANCE COMMITTEE
This City’s Finance Committee is comprised of two Councilmembers (appointed by the Mayor) and the City Treasurer. The Committee meets quarterly with the City Manger to review and make recommendations on the City’s budget, debt, audit, and other financial actions.

NON-APPOINTED COMMITTEES / ASSOCIATIONS:

CHARITABLE FUND BENEFITING GARDENA
The Charitable Fund Benefiting Gardena is an independent 501(c)3 non- profit which provides supplemental resources directly to the City of Gardena programs and community organizations to enhance the lives of Gardena’s residents and visitors. The Board of Directors is composed of city staff and volunteers in the community.

CINCO DE MAYO

SCHOLARSHIP AND FESTIVAL COMMITTEE OF

GARDENA
The Cinco de Mayo Scholarship and Festival Committee of Gardena is made up of volunteers from the community. Established in 1986 by Mayor Don Dear, the annual Gardena’s Cinco de Mayo celebration is one of the South Bay’s longest running Cinco de Mayo events and its goal is to share some of the area’s Latino heritage and culture.

DR. MARTIN LU
THER KING, JR. CULTURAL COMMITTEE OF GARDENA
Dr. Martin Luther King, Jr. Cultural Committee of Gardena was founded in 1972 by Arthur Johnson, a chemist and educator who originally wanted Gardena to honor Dr. King with a city holiday. The committee is made up of volunteers from the community. The annual event activities include a parade, a battle of the bands, an annual youth night, and the essay contest.

GARDENA POL

ICE FOUNDATION
The Gardena Police Foundation is a partnership of citizens, businesses, and philanthropic organizations whose mission is to provide additional resources to improve public safety. Incorporated in September 2006 as an independent 501(c)3 non- profit organization, the Foundation relies solely on donations and fundraising efforts. The Board of Directors actively raises money from the community and awards grants directly to the police

26 CITY OF GARDENA COMMISSIONS, CORPORATIONS, AGENCIES, BOARDS, ADVISORY GROUPS,

COMMITTEES AND ASSOCIATIONS
department in response to the department’s request for program, training and equipment needs not included in the City’s budget.

GARDENA SISTER CITY ASSOCIATION
The Gardena Sister City Association, comprised of community volunteers, has been active in promoting international friendship for over five decades. The program's goal is to learn more about the community, enjoy the hospitality, and build personal contacts with other cultures. This is done through adult and youth exchange programs that encourage person-to-person visitations in each city. Ichikawa, Chiba, Japan has been an official Sister City to Gardena since 1962 and Huatabampo, Sonora, Mexico , since 1973. Gardena has also maintained an unofficial mutual friendship with Rosarito, Baja, California, Mexico for many years.

GARDENA TRAF

FIC COMMITTEE
The City Traffic Committee is composed of City staff persons, including the Chief of Police; Recreation, Human Services, Parks, & Facilities Director; and the Transportation Director. This Committee advises the City concerning traffic-related matters including, but not limited to, parking, stop signs, signals, and congestion, etc.

GARDENA VAL

LEY AFFILIATED COMMITTEE ON AGING
The Gardena Valley Affiliated Committee on Aging is composed of a five- member board of directors and members at large, who assist and coordinate the work of community organizations, government agencies, and private entities concerned with the betterment of living conditions for the aging. They coordinat e events, activities and programs into a unified approach that will meet the economic and social needs of the elderly, and those in need of assistance throughout the greater Gardena community.

The committee advises the Gardena Senior’s Bureau and the Gardena Senior Citizen’s Commission on all matters relating to the needs and concerns of the City’s older adult population.

27 PROPOSED AMENDED

BUDGET SUMMARIES
FY 2025/2026
28 Revenue Sources General Fund % of Total Department Expenditures General Fund % of Total Sales and Use Tax 27,973,537$ 32.00% Police 38,433,565$ 44.01% Card Club Gross Revenue Fees 9,166,202 10.49% Public Works 7,557,665 8.65% Property Tax 11,176,231 12.79% Recreation & Human Services 6,740,163 7.72% Vehicle License Fees 9,352,922 10.70% Community Development 3,615,115 4.14% Utility Users Tax 7,167,001 8.20% Administrative Services 3,445,815 3.95% Business License Tax 3,013,000 3.45% Elected and City Manager's Offices 2,895,660 3.32% Franchise and Other Taxes 5,637,716 6.45% Non-Departmental including Fire and RCC 16,536,348 18.94% License and Permits 2,127,013 2.43% Transfers Out 8,107,407 9.28% Fines and Forfetuires 861,128 0.99% TOTAL EXPENDITURES 87,331,738$ 100.00% Investment Income 880,000 1.01%
Intergovernmental 558,775 0.64%
Current Service Charge 2,940,907 3.36%
Other Revenue 512,036 0.59%
Transfer In 2,953,259 3.38%
Charges to Other Funds 3,085,057 3.53%
TOTAL REVENUES 87,404,784$ 100.00%
PROPOSED AMENDED GENERAL FUND REVENUE and EXPENDITURES 2025/2026 WHERE THE MONEY COMES FROM… WHERE THE MONEY GOES…
Police, 44.01%Public Works,

8.65%
Recreation &
Human Services,

7.72%
Community
Development,

4.14%
Administrative
Services, 3.95%
Elected and City
Manager's Offices,

3.32%
Non-Departmental
including Fire and
RCC, 18.94%
Transfers Out,

9.28%
Sales and Use Tax,

32.00%
Card Club Gross
Revenue Fees,

10.49%
Property Tax,

12.79%
Vehicle License Fees,

10.70%
Utility Users Tax,

8.20%
Business License
Tax, 3.45%
Franchise and Other
Taxes, 6.45%
License and Permits,

2.43%
Fines and
Forfetuires, 0.99%
Investment
Income,

1.01%
Intergovernmental,

0.64%
Current Service
Charge, 3.36%
Other Revenue,

0.59%
Transfer In, 3.38%
Charges to Other
Funds, 3.53%
Other, 12.51%
29 Revenues and Other Sources:

Audited
2023-2024
Adopted
2024-2025
Adopted
2025-2026
Proposed
Amended
2025-2026
Change in $
from Adopted
Change in %
from Adopted
Taxes 67,906,603 71,987,230 74,271,83 3 73,486,60 9 (785,22 4) -1.1% Licenses and Permits 1,968,790 2,047,130 2,127,013 2 ,127,013 - - Fines and Forfeitures 1,220,929 875,000 901,250 861 ,128 (40 ,122) - 4.5% Use of Money & Property 355,000 1,147,050 730,000 880, 000 150 ,000 - Intergovernmental 537,500 542,500 558,775 558 ,775 - -
Current Service Charges 2,556,467 2,855,250 2,940,906 2 ,940,907 - - Other Revenue 512,036 512,036 512,036 512 ,036 - -
Charges to Other Funds 2,702,388 3,078,336 3,078,336 3 ,085,057 6 ,721 0.2% Transfer In 4,242,486 3,375,364 3,889,000 2 ,953,259 ( 935,74 1) -24.1% Total Revenues 82,002,199 86,419,896 89,009,14 9 87,404,78 4 (1,604,3 66) -1.8% Expenditures:

Salaries and Benefits 47,991,724 50,256,866 53,591,78 9 53,182,52 2 (409,26 7) -0.8% Materials and Operations 21,979,693 24,320,237 25,496,35 7 25,717,30 9 220,952 0. 9% Capital Outlay 292,254 309,500 324,500 324 ,500 - -
Fund Transfers 11,567,671 11,379,041 9,476,933 8, 107,407 ( 1,369,5 26) -14.5% Total Expenditures 81,831,342 86,265,644 88,889,57 9 87,331,73 8 (1,557,8 41) -1.8% Net Change in General Fund Fund
Balance 170,857 154,252 119,570 73,046 (46,524) -38.9% Fund Balances - Beginning 33,319,760 33,490,617 33,644,86 9 33,644,86 9 Fund Balances - Ending* 33,490,617 33,644,869 33,764,43 9 33,717,91 5 (46,524) - 0.1% * General Fund 010 only

GENERAL FUND HISTORICAL REVENUE AND EXPENDITURE SUMMARY 30 GENERAL FUND BALANCE
$23.9M $23.9M
$16.5M
$10.6M
$25.0M
$33.4M $34.2M $33.5M $34.0M $34.1M
44%
43%
27%
17%
42%
46%
41%
38%
39%
39%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
$0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
$35.0
$40.0In Millions USD
City established a 25% General
Fund Reserve Policy
*General Fund (Fund 010 only)
31 GENERAL FUND TOP 5 REVENUES
0 5
10 15
20 25
30 Audited
2021-22 Audited
2022-23 Audited
2023-24 Adopted
2024-25 Proposed
Amended
2025-26
Card Club Revenue Fee $9.2M
Property Taxes $11.2M
Vehicle License Fee $9.3M
Sales & Use Tax $28.0M
Utility Users Tax $7.2M
In Millions USD – Amount above is for Fiscal Year 2025-26 32 2022-2023 2023-2024 2024-2025 2025-2026
Audited Audited Adopted Proposed Amended
TAXES (001)
3101-3105 Property Taxes 9,946,992$ 10,103,364$ 10,705,079$ 11,176,231$ 3106 Sales and Use Tax 28,229,498$ 28,056,992$ 28,451,125$ 27,973,537$ 3107-09, 3112-13 Franchise Taxes 2,188,611$ 2,500,050$ 2,225,777$ 2,520,347$ 3110 Documentary Stamp Tax 308,642$ 223,484$ 285,000$ 233,484$ 3115-3116 Business License Tax 2,733,939$ 3,477,728$ 3,150,000$ 3,013,000$ 3117 Card Club Gross Revenue Fees 8,633,145$ 8,910,456$ 8,877,427$ 9,166,202$ 3118 Utility Users Tax 6,317,853$ 6,404,308$ 6,674,127$ 7,167,001$ 3119 Franchise Utility 1,086,768$ 1,224,825$ 1,211,317$ 1,311,788$ 3121 Hotel/Motel Tax 1,318,104$ 1,528,795$ 1,384,833$ 1,459,036$ 3122, 3349 Property Tax - Homeowner Tax Relief 38,891$ 38,061$ 40,000$ 38,061$ 3345 Motor Vehicle License In-Lieu 62,447$ 75,253$ 75,000$ 75,000$ 3346-3348 Vehicle License/Licenses In-Lieu 7,912,463$ 8,483,376$ 8,907,545$ 9,352,922$ TOTAL TAXES 68,777,353$ 71,026,695$ 71,987,230$ 73,486,609$ LICENSES & PERMITS (002)
3218-3220 Special and Entertainment Permits 176,675$ 164,613$ 176,675$ 181,975$ 3222-3232 Building and Other Permits 1,822,754$ 2,836,603$ 1,770,455$ 1,845,038$ 3234-3235 Appeals and Administration Fees 155,330$ 156,090$ 100,000$ 100,000$ 3473,3237 Fireworks and CCW Fees 3,990$ 10,956$ -$ -$ TOTAL LICENSES and PERMITS 2,158,749$ 3,168,262$ 2,047,130$ 2,127,013$ FINES & FORFEITURES (003)
3533-3535 Administrative Citation and Parking Fines 880,759$ 731,682$ 845,000$ 831,128$ 3536-3538 Court Fines 46,777$ 63,968$ 30,000$ 30,000$ TOTAL FINES and FORFEITURES 927,536$ 795,650$ 875,000$ 861,128$ INVESTMENT INCOME (004)
3640 Interest on Investments 891,526$ 1,250,998$ 1,042,050$ 750,000$ 3641-3644 Rents and Concessions 96,528$ 129,238$ 105,000$ 105,000$ 3645 Fair Market Value on Investments (9,303)$ 605,734$ -$ 25,000$ 3646 Other Investment Income -$ -$ -$
TOTAL INVESTMENT INCOME 978,751$ 1,985,970$ 1,147,050$ 880,000$ FROM OTHER AGENCIES (005/006/007)
3311 Public Safety Augmentation 525,099$ 471,575$ 451,500$ 474,075$ 3375-3376 STC Reimbursement/POST Reimbursement 28,222$ 33,526$ 24,229$ 24,229$ 3378 Mandated Cost Reimbursement 36,285$ 37,088$ 30,000$ 30,000$ 3383-88,3772,3391 Other Reimbursements 36,849$ 33,663$ 36,771$ 30,471$ TOTAL FROM OTHER AGENCIES 626,455$ 575,852$ 542,500$ 558,775$ Revenue Sources

GENERAL FUND REVENUES BY ACCOUNT

FOUR-YEAR COMPARISON
FISCAL YEARS ENDING 2023-2026
33 2022-2023 2023-2024 2024-2025 2025-2026
Audited Audited Adopted Proposed AmendedRevenue Sources

GENERAL FUND REVENUES BY ACCOUNT

FOUR-YEAR COMPARISON
FISCAL YEARS ENDING 2023-2026
CURRENT SERVICE CHARGES (008)
3401-3402 Public Service Impact -$ -$ -$ -$
3403 Business Registration Fee 2,112$ 3,272$ 2,000$ 2,000$ 3406 Trucking Impact Fee 21,854$ 13,523$ 15,000$ 15,000$ 3407 ATM Commission -$ 100$ -$ -$
3409 Passport Fees 9,815$ 8,520$ 10,000$ 10,000$
3411 Tipping Fees - CDS Refuse 184,391$ 175,893$ 190,000$ 190,000$ 3404, 3418-31, 3470 Recreation Fees 429,325$ 415,327$ 506,500$ 526,500$ 3433-3435 Industrial Waste/Strong Motion/Runoff Fees 263,078$ 263,121$ 318,950$ 333,307$ 3450-3452 Planning - Fees 719,288$ 397,739$ 680,000$ 700,000$ 3453-3459 Miscellaneous Fees (Public Works) 53,366$ 56,673$ 55,800$ 55,800$ 3466 Sewer Connection Fees 13,297$ 58,142$ 35,000$ 35,000$ 3475 Police Towing Admin Fees 181,740$ 186,160$ 156,000$ 162,300$ 3491 Police Services Bus Lines 369,228$ 287,813$ 390,000$ 400,000$ 3462, 3482 Miscellaneous Fees (Police Department) 71,683$ 65,525$ 75,000$ 80,000$ 3405, 3432-38, 3463-90 Other 231,811$ 162,069$ 141,000$ 141,000$ 3492 Franchise - Admin Fees (AB939) 224,993$ 281,906$ 280,000$ 290,000$ TOTAL CURRENT SERVICE CHARGES 2,775,981$ 2,375,783$ 2,855,250$ 2,940,907$ OTHER REVENUE (009)
3701 Franchise - Community Support 50,000$ 45,000$ 50,000$ 50,000$ 3770 Sale of Real or Personal Property 31,153$ 5,053$ 10,000$ 10,000$ 3705,3771-3787, 3789 Miscellaneous 368,692$ 206,681$ 152,036$ 152,036$ 3760, 3791 CIP and Engineering Costs Reimbursed 194,616$ 147,877$ 300,000$ 300,000$ 3901-3902,3996,3997 Other Financing Sources 1,048,142$ -$ -$ -$ TOTAL OTHER REVENUE 1,692,603$ 404,610$ 512,036$ 512,036$ 77,937,428$ 80,332,821$ 79,966,196$ 81,366,468$
CHARGES TO OTHER FUNDS (084) 2,679,759$ 3,139,467$ 3,078,336$ 3,085,057$ FUNDS TRANSFERRED IN (089) 2,777,369$ 3,385,221$ 3,375,364$ 2,953,259$ .
83,394,556$ 86,857,510$ 86,419,896$ 87,404,784$

TOTAL REVENUES

TOTAL GENERAL FUND
34 OPERATING BUDGET FY 2025-26 FY 2026-27 FY 2027-28
Operating Revenues2
86,762,455 87,404,784 91,332,364 96,273,265
Operating Expenditures3 4
86,292,138 87,331,738 91,253,081 96,232,668
Operating Surplus / (Deficit) 470,316 73,046 79,283 40,597 33,960,933 34,033,979 34,113,262 34,153,859

39.4% 39.0% 37.4% 35.5%
1 General Fund (Fund 010 only)
3 Assumes same staffing level and additional fire protection services payment starting FY 2025-26 4 Assumes that CalPERS will meet its investment return of 6.8% per fiscal year

CITY OF GARDENA
General Fund1 Long-Range Forecast - Baseline
Ending General Fund Balance
2 Does not include recession scenarios and assumes that Hustler Casino & Larry Flynt's Luck Lady Casino will continue to operate in the City
Balance % of Operating Expenditures
FORECASTFY 2024-25

PROJECTED
Fiscal Year 2024-25 to Fiscal Year 2027-2028
35 TRANSFERS TOTAL TRANSFERS TOTAL

REVENUES IN REVENUES EXPENDITURES OUT EXPENDITURES
General 33,644,870$ 84,451,525$ 2,953,259$ 87,404,784$ 79,224,331$ 8,107,407$ 87,331,738$ 33,717,916$ General Fund 33,644,870 84,451,525 2,953,259 87,404,784 79,224,331 8,107,407 87,331,738 33,717,916 General Liability 1,072,058 1,417,928 933,776 2,351,704 3,610,049 - 3,610,049 (186,287) Workers' Compensation (9,841,125) 1,655,385 950,000 2,605,385 2,651,776 - 2,651,776 (9,887,516) Health Benefits 5,025,182 12,743,938 - 12,743,938 10,889,177 1,983,776 12,872,953 4,896,167 Internal Services Funds (3,743,884) 15,817,251 1,883,776 17,701,027 17,151,002 1,983,776 19,134,778 (5,177,635) 2006 Series A & B Refunding 1,884,977 - 1,020,391 1,020,391 1,020,391 - 1,020,391 1,884,977 2014 Taxable Lease Rev Ref Bonds - - 507,459 507,459 507,459 - 507,459 - 2007A Refunding Rev Bonds 223,642 - 184,825 184,825 184,825 - 184,825 223,642 Taxable Pension Obligation Bonds 2020 47,548 5,964,428 - 5,964,428 5,964,428 - 5,964,428 47,548 Lease Revenue Bonds, 2021 12,273,174 - 940,750 940,750 940,750 8,976,366 9,917,116 3,296,808 Debt Service Funds 14,429,341 5,964,428 2,653,425 8,617,853 8,617,853 8,976,366 17,594,219 5,452,975 Capital Improvements 301,894 - 70,409,320 70,409,320 70,409,320 300,000 70,709,320 1,894 GTrans 52,751,327 36,881,906 8,336,463 45,218,369 45,050,509 167,860 45,218,369 52,751,327 Sewer Fund 4,705,099 2,612,500 - 2,612,500 1,859,281 5,065,775 6,925,056 392,543 Enterprise Funds 57,456,425 39,494,406 8,336,463 47,830,869 46,909,790 5,233,635 52,143,425 53,143,869 Technology Replacement 2,682,436 511,466 100,000 611,466 568,238 - 568,238 2,725,664 Equipment Revolving 1,500,000 - 50,000 50,000 - - - 1,550,000 Deferred Maintenance 9,876,459 - 100,000 100,000 120,000 1,941,911 2,061,911 7,914,548 Post Employement Benefits Fund - - 4,003,982 4,003,982 4,003,982 - 4,003,982 - Vehicle Replacement Fund 2,866,398 - 650,000 650,000 670,000 - 670,000 2,846,398 Accrued Benefit Liability Stabilization 3,026,273 - 50,000 50,000 - - - 3,076,273 Measure H Homeless Initiative 21,936 94,177 - 94,177 95,294 - 95,294 20,819 Asset Seizure Fund-Non Federal 750,515 - - - - - - 750,515 Officer Wellness and Mental Health Grant 54,003 - - - - - 54,003 Digital Divide 3,542,900 - - - - 3,542,900 3,542,900 - Consolidated Street Lighting District 522,514 915,572 - 915,572 824,401 350,600 1,175,001 263,085 Artesia Blvd. Landscape District 4,842 21,672 - 21,672 21,914 - 21,914 4,600 State Gas Tax 1,309,961 1,710,662 - 1,710,662 141,226 902,726 1,043,952 1,976,671 Maxine Waters Federal Earmark - 1,400,000 - 1,400,000 - 1,400,000 1,400,000 - Development Impact Fee 781,000 30,000 - 30,000 - 811,000 811,000 - Supplement Law Enforcement (SLESF) 597,870 - - - 251,000 - 251,000 346,870

PROPOSED AMENDED

REVENUES

PROPOSED AMENDED

APPROPRIATIONS

SUMMARY OF FUND ACTIVITY
FISCAL YEAR 2025-2026

FUND DESCRIPTION
FY 2024-2025

PROJECTED

FUND BALANCE
FY 2025-2026

PROJECTED

FUND BALANCE

36 TRANSFERS TOTAL TRANSFERS TOTAL

REVENUES IN REVENUES EXPENDITURES OUT EXPENDITURES

PROPOSED AMENDED

REVENUES

PROPOSED AMENDED

APPROPRIATIONS

SUMMARY OF FUND ACTIVITY
FISCAL YEAR 2025-2026

FUND DESCRIPTION
FY 2024-2025

PROJECTED

FUND BALANCE
FY 2025-2026

PROJECTED

FUND BALANCE
Traffic Safety Fund 3,784 75,500 - 75,500 - 75,500 75,500 3,784 Asset Forfeiture Fund 19,904 - - - - - - 19,904 Measure W Safe Clean Water Program 1,608,862 822,000 - 822,000 593,998 1,345,876 1,939,874 490,988 Mas Fukai Building Structure Renovation 2,000,000 - - - - 2,000,000 2,000,000 - Bicycle and Pedestrian Program 47,954 47,954 - 47,954 - 204,421 204,421 (108,513) CPF Rosecrans Community Center - 1,000,000 - 1,000,000 - 1,000,000 1,000,000 Façade Improvement Program 231,000 - - - - 231,000 231,000 - Rowley Park Gymnasium Renovation - 2,956,000 - 2,956,000 - 2,956,000 2,956,000 - Measure M Transit - 4,162,084 - 4,162,084 - 4,162,084 4,162,084 - GTrans OPEB Trust 5,834,927 - - - - - - 5,834,927 City OPEB Trust Fund 2,144,260 - 550,000 550,000 550,000 - 550,000 2,144,260 Measure R Transit 670,319 4,174,379 - 4,174,379 - 4,174,379 4,174,379 670,319 Prop A Local Return 7,801 1,827,289 - 1,827,289 1,827,289 - 1,827,289 7,801 Prop 1B Capital 3,749,805 - - - - - - 3,749,805 Prop 1B Security 508,093 - - - - - - 508,093 AQMD - MSRC 21,078 - - - 10,000 - 10,000 11,078 Measure A - 3,126,024 - 3,126,024 - 3,126,024 3,126,024 - South Coast AQMD 67,168 80,000 - 80,000 40,000 3,500 43,500 103,668 Prop C Local Return 3,771,357 1,297,987 - 1,297,987 45,323 3,735,000 3,780,323 1,289,021 Prop 68 State Parks Grant - 100,000 - 100,000 - 100,000 100,000 - Measure R Highway - 5,289,456 - 5,289,456 - 5,289,456 5,289,456 - Measure R Local Return 2,072,966 967,990 - 967,990 45,323 2,550,000 2,595,323 445,633 In Lieu Funds 3,154,977 220,000 - 220,000 - 3,374,977 3,374,977 - Measure M Local Return 4,544,639 1,119,789 - 1,119,789 29,490 6,482,000 6,511,490 (847,062) SB 1- Gas Tax 5,204,179 1,562,806 - 1,562,806 - 6,355,892 6,355,892 411,093 SB 2 Planning Grants Program 5,573 - - - - - - 5,573 Unfunded Accrued Liability (UAL) Fund 7,940,813 - - - - 600,000 600,000 7,340,813 Measure M Highway 91,839 10,557,607 - 10,557,607 - 10,649,446 10,649,446 - UAL Fund - GTrans 687,218 - 167,860 167,860 - - - 855,078 UAL Fund - Sewer 39,194 - 7,791 7,791 - - - 46,985 SCAMP - 372,464 39,389 411,853 411,853 - 411,853 - SCAMP - Home Delivery - 302,234 - 302,234 302,234 - 302,234 -

37 TRANSFERS TOTAL TRANSFERS TOTAL

REVENUES IN REVENUES EXPENDITURES OUT EXPENDITURES

PROPOSED AMENDED

REVENUES

PROPOSED AMENDED

APPROPRIATIONS

SUMMARY OF FUND ACTIVITY
FISCAL YEAR 2025-2026

FUND DESCRIPTION
FY 2024-2025

PROJECTED

FUND BALANCE
FY 2025-2026

PROJECTED

FUND BALANCE
Supportive Services Program - 144,210 - 144,210 144,210 - 144,210 - Senior Citizen Day Care - Trust - - 10,611 10,611 10,611 - 10,611 - OTS DUI Enforcement Awareness Program - 100,000 - 100,000 100,000 - 100,000 - Brownfields Hazardous Material 2,965 - - - - - - 2,965 CalHome 411,694 - - - - - - 411,694 State HOME Owner Occupied Grant 2,051,430 - - - - - - 2,051,430 CDBG Admin - 143,292 - 143,292 143,292 - 143,292 - CDBG Housing Rehabilitation Program - 400,702 - 400,702 400,702 - 400,702 - CDBG Youth and Family Services Bureau - 72,469 - 72,469 72,469 - 72,469 - CDBG Western Ave & Crenshaw Blvd Commerc 1,217 - - - - - - 1,217 Special Revenue Funds 74,432,124 45,605,785 5,729,633 51,335,418 11,422,849 67,364,692 78,787,541 46,980,001 TOTAL ALL FUNDS 176,520,771$ 191,333,395$ 91,965,876$ 283,299,271$ 233,735,145$ 91,965,876$ 325,701,021$ 134,119,021$

38 Fund Description Revenues Expenditures Delta
General Fund $87,404,784 $87,331,738 $73,046
Combined Internal Services $17,701,027 $19,134,778 ($1,433,751) Combined Debt Service $8,617,853 $17,594,219 ($8,976,366) Capital Improvement (CIP) $70,409,320 $70,709,320 ($300,000) Combined Enterprise Funds
- Transportation $45,218,369 $45,218,369 $0
Combined Enterprise Funds
- Sewer $2,612,500 $6,925,056 ($4,312,556)
Special Revenue Funds $51,335,418 $78,787,541 ($27,452,123) Total All Funds
- not including beginning fund balance $283,299,271 $325,701,021 ($42,401,750)

SUMMARY OF REVENUES AND EXPENDITURES
FISCAL YEAR 2025-2026 PROPOSED AMENDED BUDGET - ALL FUNDS A "structurally balanced budget " projects revenues to exceed expenditure appropriations within the term of the budget.

The City's fiscal year (term) is from July 1 - June 30 so expenditure appropriations must be made within revenue projections. The variance between revenue and expenditures is referred to as the "delta" (^) and may be positive, reflecting a structurally balanced budget, or negative, indicating a structural imbalance. A structural imbalance is normally the result of the revenue being received in a prior fiscal year. When a positive delta exists at the end of a fiscal year, revenues may be appropriated to expend in the next fiscal year or may be set aside as a reserve to be used for an emergency or one-time opportunities. Fund balance reserves are not intended to offset normal operating cost or to balance an unstructured budget. The General Fund is the only fund that is totally discretionary and therefore must balance a negative delta in any fund; conversely other funds may not be used to balance a negative delta in the General Fund. 39 DEPARTMENT

PROPOSED AMENDED BUDGET
FY 2025/2026
40 OPERATIONAL DEPARTMENTS
ELECTED & CITY MANAGER’S OFFICES

ADMINISTRATIVE

SERVICES
POLICE

RECREATION & HUMAN

SERVICES
GTRANS

PUBLIC WORKS

COMMUNITY

DEVELOPMENT

CITIZENS OF GARDENA
41 Elected & Appointed Positions
Elected Mayor 1.00 1.00 1.00 1.00
Elected Councilperson 4.00 4.00 4.00 4.00
Elected City Clerk 1.00 1.00 1.00 1.00
Elected City Treasurer 1.00 1.00 1.00 1.00
Gardena Beautification Commissioner - 10.00 10.00 10.00 Rent Mediation Board Member 15.00 15.00 15.00 15.00 Gardena Economic Business Advisory Commissioner 10.00 10.00 10.00 10.00 Planning Commissioner 5.00 5.00 5.00 5.00
Recreation Commissioner 5.00 5.00 5.00 5.00
Senior Citizens Commissioner 5.00 5.00 5.00 5.00
Human Services Commissioner 5.00 5.00 5.00 5.00
Gardena Youth Commissioner 10.00 10.00 10.00 10.00 Total Elected & Appointed Positions 62.00 72.00 72.00 72.00 Departments
Adm
inistrative Services 21.00 22.00 22.00 23.00
Elected & City Manager's Offices 10.30 11.30 11.30 11.30 Community Development 15.35 19.35 19.35 19.35
Police & Community Safety 128.90 130.90 132.90 133.90 Public Works 47.30 47.30 49.00 49.00
Recreation & Human Services 57.38 67.88 78.91 80.66 Transportation - GTrans 155.26 159.10 165.50 165.50 Total Full Time Equivalent Positions 435.49 457.83 478.96 482.71 Proposed Amended Budget Fiscal Year 2025-26
Citywide Staffing Plan
Budgeted
FY 22/23
Budgeted
FY 23/24
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
42 43

APPOINTED CITY MANAGER

CHIEF EXECUTIVE OFFICER
CLINT D. OSORIO

ELECTED MAY O R

TASHA CERDA

ELECTED CITY COUNCIL
RODNEY G. TANAKA
MARK E. HENDERSON
PAULETTE C. FRANCIS

WANDA LOVE

ELECTED CITY CLERK

MINA SEMENZA

PUBLIC RECORDS & ELECTIONS

ELECTED CITY TREASURER
GUY H. MATO

PUBLIC FUNDS/INVESTMENTS

APPOINTED COMMISSIONS, BOARDS
& COMMITTEES

ADMINISTRATIVE SUPPORT PROVIDED BY

APPROPRIATE OPERATING DEPARTMENT

APPOINTED CITY ATTORNEY

CONTRACTED LEGAL SERVICES

CARMEN VASQUEZ
ELECTED & CITY MANAGER’S OFFICES

RENT MEDIATION BOARD

GARDENA BEAUTIFICATION

COMMISSION

CITIZENS OF GARDENA
44 ELECTED & CITY MANAGER’S OFFICES

ELECTED & CITY MANAGER'S OFFICE
Budgeted
FY 22/23
Budgeted
FY 23/24
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
Mayor & City Council Office
Elected Mayor 1.00 1.00 1.00 1.00
Elected Councilperson 4.00 4.00 4.00 4.00
Executive Office Assistant 1.00 1.00 1.00 1.00
Total Mayor/Council Office 6.00 6.00 6.00 6.00
City Clerk's Office
Elected City Clerk 1.00 1.00 1.00 1.00
Deputy City Clerk/Records Management Officer 1.00 1.00 1.00 1.00 Records Management Coordinator 1.00 1.00 1.00 1.00
Deputy City Clerk I 1.00 1.00 1.00 1.00
Customer Service Clerk I 1.00 1.00 1.00 1.00
Total City Clerk's Office 5.00 5.00 5.00 5.00
City Treasurer's Office
Elected City Treasurer 1.00 1.00 1.00 1.00
Total City Treasurer's Office 1.00 1.00 1.00 1.00
City Manager's Office
City Manager (Appointed by City Council) 1.00 1.00 1.00 1.00 Assistant City Manager 1.00 1.00 1.00 1.00
Communications Liaison Officer 1.00 1.00 1.00 1.00
Administrative Aide - 1.00 1.00 1.00
Administrative Coordinator - - 1.00 1.00
Administrative Analyst I 1.00 1.00 - -
Intern 0.80 0.80 0.80 0.80
Joint Powers Authority Accountant 0.50 0.50 0.50 0.50
Gardena Beautification Commissioner 10.00 10.00 10.00
Rent Mediation Board Member 15.00 15.00 15.00 15.00
Total City Manager's Office 20.30 31.30 31.30 31.30
TOTAL ELECTED & APPOINTED POSITIONS 22.00 32.00 32.00 32.00 TOTAL FTE - ELECTED & CITY MANAGER'S OFFICES 10.30 11.30 11.30 11.30 Staffing Plan - Full Time Equivalent Positions
45 Elected and City Manager's Office Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
City Clerk 472,604 497,906 582,183 618,048
General Election 270 189,277 - 270,000
City Treasurer 241,860 41,224 33,556 34,880
City Manager 1,323,031 1,374,381 1,945,742 1,972,732
Total Elected and City Manager's Office 2,037,765 2,102,788 2,561,481 2,895,660 City Clerk
22%
General Election
9%
City Treasurer
1%
Executive Offices
68%
46 47

TECHNOLOGY RESOURCES

NETWORK INFRASTRUCTURE

DESKTOP COMPUTER SUPPORT

MOBILE DEVICES SUPPORT

TELEPHONE ADMINISTRATION

CABLE TELEVISION

WEBMASTER

GRAPHICS/PUBLICATIONS

ADMINISTRATIVE SERVICES

DIRECTOR

RAY BEEMAN

CITY MANAGER

CLINT OSORIO

RISK MANAGEMENT

CLAIM PROCESSING

PROPERTY DAMAGE PROCESSING

PURCHASE CITYWIDE INSURANCE

FISCAL RESOURCES

PAYROLL & BENEFITS

ACCOUNTS PAYABLE & RECEIVABLE

REVENUE MANAGEMENT/COLLECTIONS

BUDGETING, AUDITING,

GRANT/SPECIAL REVENUE ACCOUNTING

FINANCIAL ANALYSIS & REPORTING

CAPITAL FUNDING/DEBT ADMINISTRATION

PURCHASING

PROCUREMENT

SERVICE CONTRACTS

PO ISSUANCE

INVESTMENTS

INVESTMENT MANAGEMENT

INVESTMENT ANALYSIS

ENSURE SUFFICIENT LIQUIDITY

HUMAN RESOURCES

RECRUITMENT & HIRING

CLASSIFICATION & COMPENSATION

EMPLOYEE/RETIREE BENEFITS

WORKERS COMPENSATION

LABOR RELATIONS

EMPLOYEE SERVICES
48 ADMINISTRATIVE SERVICES
ADMINISTRATIVE SERVICES (cont.)
Fiscal Resources
Director of Administrative Services 1.00 1.00 1.00 1.00 Chief Fiscal Officer - - - -
Revenue and Purchasing Manager 1.00 1.00 1.00 1.00
Accounting/Finance Manager - - 1.00 1.00
Cost Accountant 1.00 1.00 - -
Administrative Analyst III - - - -
Administrative Analyst II 1.00 1.00 1.00 1.00
Payroll Specialist 1.00 1.00 1.00 1.00
Junior Accountant / Financial Services Technician 2.00 2.00 2.00 2.00 Payroll/Personnel Technician 1.00 1.00 1.00 1.00
Senior Account Clerk 1.50 2.00 2.00 2.00
Intern - 0.50 - -
Total Fiscal Resources 9.50 10.50 10.00 10.00
Human Resources
Human
Resources Manager 1.00 1.00 1.00 1.00
Senior Human Resources Analyst 1.00 1.00 1.00 1.00
Human Resources Analyst 1.00 1.00 1.00 1.00
Administrative Analyst I - - - -
Human Resources Coordinator 1.00 1.00 2.00 2.00
Risk Management Analyst 1.00 1.00 1.00 2.00
Intern 0.75 0.50 - -
Total Human Resources 5.75 5.50 6.00 7.00
Treasury Services
Deputy City Treasurer 1.00 1.00 1.00 1.00
Senior Account Clerk - 1.00 1.00 1.00
Account Clerk - - - -
Intern 0.75 - - -
Total Treasury Services 1.75 2.00 2.00 2.00
Some positions are being funded by grants
Staffing Plan - Full Time Equivalent Positions
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
Budgeted
FY 22/23
Budgeted
FY 23/24
49 ADMINISTRATIVE SERVICES
ADMINISTRATIVE SERVICES (cont.)
Technology Resources
Informat
ion Technology Supervisor 1.00 1.00 1.00 1.00
Information Technology Coordinator 1.00 1.00 1.00 1.00
Help Desk Technician 2.00 2.00 2.00 2.00
Intern - -
Total Technology Resources 4.00 4.00 4.00 4.00
TOTAL FTE - ADMINISTRATIVE SERVICES 21.00 22.00 22.00 23.00 Some positions are being funded by grants
Staffing Plan - Full Time Equivalent Positions
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
Budgeted
FY 22/23
Budgeted
FY 23/24
50 Administrative Services Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
City Treasurer's Services - 221,486 292,952 499,331
Human Resources 520,184 435,140 637,210 565,255
Technology Resources 653,117 675,374 782,638 738,875
Fiscal Resources 1,262,122 1,319,016 1,627,067 1,642,354 Total Administrative Services 2,435,423 2,651,015 3,339,867 3,445,815 City Treasurer's Services
15%
Human Resources
16%
Technology
Resources
21%
Fiscal Resources
48%
51 Special Revenue Funds
Administrative Services
Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Technology Replacement Fund 302,502 597,611 618,472 568,238 Deferred Maintenance Fund 892,729 380,553 1,411,582 2,061,911 Vehicle Replacement Fund 431,445 195,171 600,000 670,000 Digital Divide - 207,430 3,800,000 3,542,900
South Coast Air Quality Management
District 78,429 129,385 96,202 43,500
American Rescue Plan Act 969,295 1,566,822 1,586,364 - Administrative Services Grants 33,954 73,748 - -
Total Administrative Services
Special Revenue Funds 2,708,355 3,150,722 8,112,620 6,886,549 Technology
Replacement Fund,
8%
Deferred Maintenance
Fund, 30%
Vehicle Replacement
Fund, 10%
Digital Divide, 51%
South Coast Air
Quality Management
District, 1%
52 53

PLANNING AND ZONING

GENERAL PLAN

LAND ZONING/USES

DEVELOPMENT ENTITLEMENTS

PLAN CHECK AND REVIEW

COMMUNITY DEVELOPMENT

DIRECTOR

GREG TSUJIUCHI

CITY MANAGER

CLINT OSORIO

GARDENA ECONOMIC

BUSINESS ADVISORY

COMMISSION (GEBAC)

BUILDING & SAFETY

PLAN CHECKING & APPROVAL

BUILDING PERMITTING &

INSPECTIONS

OCCUPANCY CERTIFICATION

RESIDENTIAL & COMMERCIAL

CONSTRUCTIONS

ANIMAL CONTROL

ANIMALS CARE & CONTROL

PET LICENSING

ANIMAL DISPOSAL

ANIMAL CRUELTY INVESTIGATION

PLANNING &

ENVIRONMENTAL QUALITY

COMMISSION

ECONOMIC DEVELOPMENT

BUSINESS RETENTION & EXPANSION

NEW BUSINESS LICENSING

SPECIAL PERMITTING

COMMUNITY DEVELOPMENT

BLOCK GRANT (CDBG)

PROGRAM ADMINISTRATION

RESIDENTIAL REHABILITATION

PROGRAM

CODE ENFORCEMENT

LAND USE REGULATIONS

CONSTRUCTIONS & BUILDING

STANDARDS

MUNICIPAL CODE ENFORCEMENT
54 COMMUNITY DEVELOPMENT

COMMUNITY DEVELOPMENT
Budgeted
FY 22/23
Budgeted
FY 23/24
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
Code Enforcement & Animal Control
Code Enforcement Officer 2.00 3.00 3.00 3.00
Code Enforcement Supervisor - 1.00 1.00 1.00
Com
munity Service Officer 1.75 1.75 1.75 1.75
Total Code Enforcement & Animal Control 3.75 5.75 5.75 5.75 Economic Development
Economic Development Manager 1.00 1.00 1.00 1.00
Gardena Economic Business Advisory Commissioner 10.00 10.00 10.00 10.00 Total Economic Development 11.00 11.00 11.00 11.00
Building, Development & Planning
Director of Community Development 1.00 1.00 1.00 1.00
Assistant Director of Community Development - - - 1.00 Community Development Manager 1.00 -
Administrative Analyst I 1.00 1.00
General Building Inspector 2.00 2.00 2.00 2.00
Planning Assistant 1.00 1.00 2.00 2.00
Planning Associate - 1.00 - -
Planning Commissioner 5.00 5.00 5.00 5.00
Program Coordinator 1.00 1.00 - -
Senior Planner 1.00 1.00 - -
Intern - - 0.60 0.60
Total Building, Development & Planning 11.00 12.00 12.60 12.60 Permits & Licences
Customer Service Clerk I 0.60 0.60 - -
Permit/Licensing Technician I 2.00 3.00 3.00 3.00
Permit/Licensing Technician II 2.00 2.00 2.00 2.00
Total Permits & Licences 4.60 5.60 5.00 5.00
TOTAL ELECTED & APPOINTED POSITIONS 15.00 15.00 15.00 15.00 TOTAL FTE - COMMUNITY DEVELOPMENT 15.35 19.35 19.35 19.35 Staffing Plan - Full Time Equivalent Positions
55 Community Development Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Economic Development 170,808 199,456 209,274 224,575
Code Enforcement 139,641 392,428 544,583 566,869
Animal Control 227,443 288,163 382,237 394,666
Permits and Licenses 532,678 660,576 643,251 805,356
Building Services 1,308,738 1,153,367 1,288,484 1,271,595 Development Services & Planning 167,470 252,079 328,138 352,054 Total Community Development 2,546,776 2,946,069 3,395,967 3,615,115 Economic
Development
6%
Code Enforcement
16%
Animal Control
11%
Permits and
Licenses
22%
Building Services
35%
Development
Services & Planning
10%
56 Special Revenue Funds
Community Development
Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Community Development Block Grants 129,422 239,241 1,146,950 543,994 Gardena Boulevard Revitalization - 9,713 2,000,000 -
Development Impact Fee 14,234 7,095 30,000 811,000
SB 2 Planning Grant 41,573 66,073 - -
Local Early Action Planning (LEAP) Grant 88,299 2,511 - - Façade Improvement Program - 8,797 250,000 231,000
Total Community Development
Special Revenue Funds 273,529 333,429 3,426,950 1,585,994 Community
Development Block
Grants, 34%
Development Impact
Fee, 51%
Façade Improvement
Program, 15%
57 58

TRANSPORTATION

FIXED ROUTE OPERATIONS

ROUTE PLANNING & SCHEDULING

TRAINING
SAFETY
GTRANS

DIRECTOR

ERNIE CRESPO

CITY MANAGER

CLINT OSORIO

ADMINISTRATION

GENERAL ADMINISTRATION

GRANT ADMINISTRATION

PROCUREMENT

OUTREACH & MARKETING

COMPLIANCE

NETWORK & SYSTEM MANAGEMENT

PAYROLL/HR

BUDGETING/AUDIT/FINANCIAL ANALYSIS

CUSTOMER SERVICE

ON-DEMAND
BOLT

MAINTENANCE/FACILITY

FLEET INSPECTIONS & MAINTENANCE

EQUIPMENT MAINTENANCE

FACILITY MAINTENANCE

STOPS AND ZONES
59 GTRANS

TRANSPORTATION
Budgeted
FY 22/23
Budgeted
FY 23/24
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
Transit Administration
Director of Transportation 1.00 1.00 1.00 1.00
Assistant Director of Transportation 1.00 1.00
Transit Administrative Officer 1.00 1.00 - -
Transit Operations Officer 1.00 1.00 1.00 1.00
Financial Services Manager 1.00 1.00 1.00 1.00
Transit Administration Supervisor 1.00 1.00 1.00 1.00
Administrative Analyst III - - 1.00 1.00
Administrative Analyst II 1.00 1.00 2.00 2.00
Information Technology Systems Analyst 1.00 1.00 1.00 1.00 Senior Accountant 1.00 1.00 1.00 1.00
Finance & Regulatory Analyst 1.00 1.00
Administrative Analyst I 1.00 1.00 - -
Administrative Aide 2.00 2.00 3.00 3.00
Administrative Coordinator 1.00 1.00 2.00 2.00
Financial Services Technician 1.00 1.00 1.00 1.00
Program Coordinator 1.00 1.00 - -
Transit Marketing Coordinator 1.00 1.00 1.00 1.00
Human Resource Technician - - 1.00 1.00
Secretary - - - -
Customer Service Clerk I 1.00 2.00 2.00 2.00
Intern 1.50 1.50 3.00 3.00
Total Transit Administration 16.50 17.50 23.00 23.00
All positions are being funded by grants
Staffing Plan - Full Time Equivalent Positions
60 GTRANS
TRANSPORTATION cont.

Budgeted
FY 22/23
Budgeted
FY 23/24
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
Transit Operations
Transit Operations Manager 1.00 1.00 1.00 1.00
Transit Training and Safety Supervisor 1.00 1.00 - -
Transit Safety and Risk Manager 1.00 1.00
Transit Training Supervisor 1.00 1.00
Tranit Operations Training Coordinator 1.00 1.00 2.00 2.00 Transit Planning & Scheduling Analyst 1.00 1.00 1.00 1.00 Assistant Transit Operations Manager 1.00 1.00 1.00 1.00 Transportation Operations Supervisor 11.00 11.00 12.00 12.00 Bus Operators 74.80 76.80 71.00 71.00
On-Demand Transit Dispatcher 1.00 1.00 3.00 3.00
On-Demand (Micro/Paratransit) Operator 4.00 8.00
Paratransit Drivers 5.46 6.30 4.00 -
Relief Bus Operator Trainees 2.00 2.00 1.00 1.00
Relief Bus Operators 13.50 13.50 13.50 13.50
Total Transit Operations 112.76 115.60 115.50 115.50
Transit Maintenance
Transit Maintenance Manager 1.00 1.00 1.00 1.00
Tranist Maintenance Coordinator 1.00 1.00 1.00 1.00
Fleet Maintenance Supervisor 1.00 1.00 1.00 1.00
Facilities Maintenance Supervisor 1.00 1.00 1.00 1.00
Transit Equipment Mechanics - Lead 2.00 2.00 2.00 2.00
Transit Equipment Mechanics 7.00 7.00 8.00 8.00
Transit Mechanic I 1.00 1.00
Transit Parts/Storeroom Coordinator 2.00 2.00 2.00 2.00 Maintenance Coordinator 1.00 1.00 - -
Sr. Building Maintenance Worker 1.00 1.00 1.00 1.00
Sr. Transit Utility Specialist 2.00 2.00 2.00 2.00
Apprentice Mechanic 1.00 1.00 1.00 1.00
Equipment Utility Worker II 1.00 1.00 2.00 2.00
Equipment Utility Worker I 5.00 5.00 4.00 4.00
Total Transit Maintenance 26.00 26.00 27.00 27.00
TOTAL FTE - TRANSPORTATION 155.26 159.10 165.50 165.50
All positions are being funded by grants
Staffing Plan - Full Time Equivalent Positions
61 GTrans Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Facility Maintenance 901,844 943,174 1,790,819 1,814,579 Administration 5,872,908 8,313,684 6,955,570 7,167,467
On-Demand 517,942 581,869 1,174,162 1,201,125
Transportation 10,725,388 10,998,038 14,147,183 14,781,921 Equipment Maintenance 2,961,355 2,952,327 3,345,419 3,506,382 Capital Expenditures - - 6,617,546 14,107,359
Expense Charges 2,305,675 2,471,676 2,471,676 2,471,676 Transfers Out 130,417 129,671 129,541 167,860
Total GTrans 23,415,530 26,390,439 36,631,916 45,218,369 Facility
Maintenance, 4%
Administration, 16%
On-Demand, 3%
Transportation, 33%
Equipment
Maintenance, 8%
Capital
Expenditures, 31%
Expense Charges,
5%
Transfers Out, 0%
62 Special Revenue Funds
GTrans
Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Measure M Transit 2,002,959 3,677,910 4,162,084 4,162,084 Measure R Transit 1,029,772 3,681,854 4,174,379 4,174,379 Prop 1B Capital 57,493 77,511 - -
Prop 1B Security 9,460 12,288 - -
Prop A Local Return 1,817,315 1,678,443 1,869,324 1,827,289 Total GTrans
Special Revenue Funds 4,916,999 9,128,006 10,205,787 10,163,752 Measure M Transit
41%
Measure R Transit
41%
Prop A Local Return
18%
63 64

OPERATIONS DIVISION

TRAFFIC BUREAU

DISTRICT POLICING PROGRAM

SPECIAL WEAPONS AND TACTICS (SWAT)

PATROL BUREAU
K9 UNIT

EXPLORER PROGRAM

PEER SUPPORT/WELLNESS

CITY CAMERAS

MOBILE FIELD FORCE

EMERGENCY OPERATIONS CENTER (EOC)

GARDENA COMMUNITY EMERGENCY RESPONSE

TRAINING (CERT)
POLICE

CHIEF OF POLICE

MICHAEL SAFFELL

CITY MANAGER

CLINT OSORIO

SUPPORT SERVICES DIVISION

DETECTIVE BUREAU

SPECIAL TASKS & RESPONSE TEAM

SPECIAL INVESTIGATION UNIT

RECORDS/JAIL/TRAINING/PROPERTY

PROFESSIONAL STANDARDS

ADMINISTRATION

INTERNAL AFFAIRS

TRAINING & EQUIPMENT

FLEET MAINTENANCE

GARDENA MENTAL EVALUATION TEAM (GMET)

GARDENA JUVENILE JUSTICE AND INTERVENTION

PROGRAM (GJJIP)
65 POLICE

POLICE DEPARTMENT
Sworn Staffing
Police Chief 1.00 1.00 1.00 1.00
Police Captain 2.00 2.00 2.00 2.00
Police Lieutenant 6.00 6.00 6.00 6.00
Police Sergeant 14.00 14.00 14.00 14.00
Police Officer 64.00 66.00 66.00 66.00
Police Trainee 2.00 2.00 2.00 2.00
Total Sworn 89.00 91.00 91.00 91.00
Non-Sworn Staffing
Administrative Management Analyst I 0.40 0.40 0.40 0.40 Admin Support Services Supervisor 1.00 1.00 1.00 1.00
Crime Analyst - - 1.00 1.00
Forensic Technician 1.00 1.00 - -
Supervising Case Manager - - - 1.00
Executive Assistant to Chief of Police 1.00 1.00 1.00 1.00 Administrative Analyst I - - - 1.00
Property and Evidence Technician - - 1.00 1.00
Administrative Aide 1.00 2.00 2.00 1.00
Police Service Officer 10.00 11.00 11.00 11.00
Police Records Technician II 4.00 4.00 5.00 5.00
Police Records Technician I 4.00 4.00 5.00 5.00
Police Service Technician 2.00 1.00 - -
Court Liaison - - - 1.00
Police Assistant 15.50 14.50 14.50 13.50
Total Non-Sworn 39.90 39.90 41.90 42.90
TOTAL FTE - POLICE DEPARTMENT 128.90 130.90 132.90 133.90 Staffing Plan - Full Time Equivalent Positions
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
Budgeted
FY 22/23
Budgeted
FY 23/24
66 Police Department Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Juvenile Justice & Intervention Program 44,524 49,100 70,000 70,000 Transit Security 234,820 51,690 - -
Parking Compliance 151,561 151,482 150,100 150,100
Police Operations 20,957,913 22,687,857 24,444,914 26,218,270 Police Support 10,186,369 10,072,257 11,303,538 11,995,195 Total Police 31,575,188 33,012,386 35,968,552 38,433,565 JJIP, Parking
Compliance
1%
Police Operations
68%
Police Support
31%
67 Special Revenue Funds
Police Department
Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Supplemental Law Enforcement (SLESF) 129,583 89,924 - 251,000 Traffic Safety Fund 75,500 75,500 75,500 75,500
OTS DUI Enforcement Awareness
Program 110,900 109,968 100,000 100,000
Police Grants 83,227 94,739 - -
Total Police Department
Special Revenue Funds 399,209 370,130 175,500 426,500
Supplemental Law Enforcement
(SLESF)
59%
Traffic Safety Fund
18%
OTS DUI Enforcement
Awareness Program
23%
68 69

OPERATIONS & MAINTENANCE

STREET MAINTENANCE

STREET SWEEPING

GRAFFITI ABATEMENT

TRAFFIC SIGNS & SIGNALS

STORM DRAIN SYSTEM

TRAFFIC PAINTING/STRIPING

FLEET MAINTENANCE

PARK MAINTENANCE

TREE TRIMMING

MEDIAN MAINTENANCE

ARTESIA LANDSCAPING DISTRICT

FACILITY MAINTENANCE

BUILDING MAINTENANCE

PUBLIC WORKS

DIRECTOR

ALLAN RIGG

CITY MANAGER

CLINT OSORIO

ADMINISTRATION

MANAGE WASTE HAULER CONTRACT

GRANT MANAGEMENT
PROCESS INVOICES/PO’S

KEEP GARDENA BEAUTIFUL DAY

SHREDDING EVENT

COMPOST EVENT

HOUSEHOLD HAZARDOUS & ELECTRONIC

WASTE EVENT

SEWER SYSTEM
(ENTERPRISE FUND)

SEWER MAINTENANCE

ENGINEERING

CAPITAL IMPROVEMENT PROGRAM (CIP)

PRIVATE DEVELOPMENT & PERMITS

STORMWATER MANAGEMENT

UTILITIES
70 PUBLIC WORKS

PUBLIC WORKS
Administration
Director of Public Works 1.00 1.00 1.00 1.00
Administrative Analyst II 1.00 1.00 1.00 1.00
Program Coordinator 1.00 1.00 1.00 1.00
Secretary 1.00 1.00 - -
Public Works Coordinator 1.00 1.00
Intern 0.50 0.50 0.50 0.50
Total Parks 4.50 4.50 4.50 4.50
Facilities
Senior Building Maintenace Worker 1.00 1.00 1.00 1.00
Sr. Maintenance Worker - -
Building Maintenance Worker 1.00 1.00 1.00 1.00
Building Maintenance Lead 1.00 1.00 1.00 1.00
Home Improvement Maintenance Helper 1.00 1.00 1.00 1.00 Total Facilities 4.00 4.00 4.00 4.00
Parks
Public Works Superintendent 1.00 1.00 1.00 1.00
Park Maintenance Lead 2.00 2.00 2.00 2.00
Tree Trimmer II 2.00 2.00 2.00 2.00
Park Maintenance Worker II 3.00 3.00 3.00 3.00
Park Maintenance Worker I 4.50 4.50 5.50 5.50
Total Parks 12.50 12.50 13.50 13.50
Some positions are being funded by grants
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
Staffing Plan - Full Time Equivalent Positions
Budgeted
FY 22/23
Budgeted
FY 23/24
71 PUBLIC WORKS
PUBLIC WORKS cont.

Engineering
Assistant Director of Public Works/City Engineer 1.00 1.00 1.00 1.00 Principal Civil Engineer - - - -
Civil Engineer 1.00 1.00 1.00 1.00
Associate Engineer 1.00 1.00 1.00 1.00
Assistant Engineer 1.00 1.00 1.00 1.00
Engineering Technician 1.00 1.00 1.00 1.00
Public Works Inspector 1.00 1.00 1.00 1.00
Total Engineering 6.00 6.00 6.00 6.00
Streets
Public Work Lead 2.00 2.00 2.00 2.00
Electrical/Signal Technician I 1.00 1.00 - -
Electrical/Signal Technician II 1.00 1.00 2.00 2.00
Lead Equipment Mechanic 1.00 1.00 1.00 1.00
Equipment Mechanic 1.00 1.00 1.00 1.00
Heavy Equipment Operator 2.00 2.00 2.00 2.00
Street Traffic Painter 1.00 1.00 1.00 1.00
Street Sweeper Operator 2.00 2.00 2.00 2.00
Sewer Maintenance Worker 2.00 2.00 2.00 2.00
Street Maintenance Workers 2.00 2.00 2.00 2.00
Graffiti Technician 1.00 1.00 1.00 1.00
Right-of-Way Worker 4.30 4.30 5.00 5.00
Total Streets 20.30 20.30 21.00 21.00
TOTAL FTE - PUBLIC WORKS 47.30 47.30 49.00 49.00
Some positions are being funded by grants
Budgeted
FY 23/24
Staffing Plan - Full Time Equivalent Positions
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
Budgeted
FY 22/23
72 Public Works Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Public Works Administration 574,200 627,571 777,086 799,633 Building Maintenance 652,538 544,847 687,490 717,027
Street Maintenance 1,313,954 1,238,744 1,293,485 1,355,522 Traffic Signal and Signs 628,232 647,699 555,634 580,895 Park Maintenance 1,834,547 1,846,032 2,197,239 2,225,590 Equipment Maintenance 463,562 537,224 517,025 536,967
Engineering 709,410 833,533 1,002,149 1,044,849
Tree Trimming 234,075 256,114 286,372 297,182
Total Public Works 6,410,516 6,531,765 7,316,480 7,557,665 Public Works
Administration
11%
Building Maintenance
9%
Street Maintenance
18%
Traffic Signal and
Signs
8%
Park Maintenance
29%
Equipment
Maintenance
7%
Engineering
14%
Tree Trimming
4%
73 Special Revenue Funds
Public Works
Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Consolidated Lighting & Artesia
Landscape 738,116 900,236 1,173,452 1,196,915
State Gas Tax & SB 1 1,258,832 3,719,522 6,780,028 7,399,844 Sewer Fund (Enterprise) 2,036,761 1,963,061 5,549,817 6,925,056 Prop C Local Return 1,924,917 2,310,235 4,031,151 3,780,323 Measure M Local 747,706 441,587 3,637,621 6,511,490 Public Works Grants 2,013,043 2,680,883 18,944,982 20,688,520 Total Public Works
Special Revenue Funds 8,719,374 12,015,524 40,117,051 46,502,148 Consolidated
Lighting & Artesia
Landscape
3%
State Gas Tax & SB 1
16%
Sewer Fund
(Enterprise)
15%
Prop C Local Return
8%
Measure M Local
14%
Public Works Grants
44%
74 75

HUMAN SERVICES

EMERGENCY/HOMELESS SERVICES

YOUTH & FAMILY SERVICES

RECREATION & HUMAN SERVICES

DIRECTOR

STEPHANY SANTIN

CITY MANAGER

CLINT OSORIO

RECREATION & LEISURE SERVICES

AFTERSCHOOL & DAY CAMP PROGRAMS

AQUATICS

COMMUNITY EVENTS & ACTIVITIES

PARKS & WILLOWS WETLAND PROGRAMMING

THERAPEUTIC RECREATION PROGRAM

YOUTH & ADULT SPORTS

FACILITY RENTALS

SENIOR SERVICES

ALZHEIMER'S DAY CARE CENTER

SENIOR ACTIVITIES

SENIOR MEALS PROGRAM

SUPPORTIVE SERVICES PROGRAM

FACILITY SERVICES

CUSTODIAL SERVICES

GARDENA YOUTH COMMISSION

HUMAN SERVICES COMMISSION

RECREATION AND PARKS COMMISSION

SENIOR CITIZENS COMMISSION
76 RECREATION & HUMAN SERVICES

RECREATION & HUMAN SERVICES
Recreation
Director of Recreation & Human Services 1.00 1.00 1.00 1.00 Recreation Program Administrator 1.00 1.00 1.00 1.00
Administrative Coordinator - - 1.00 -
Administrative Analyst I 1.00 1.00 - 1.00
Recreation Supervisor 2.00 2.00 2.00 3.00
Intern 0.60 0.60 1.00 1.00
Community Services Counselor 2.00 2.00 2.00 -
Community Center Coordinator 1.00 1.00 1.00 1.00
Recreation Coordinator 3.00 3.00 3.00 4.00
Recreation Leader II 3.80 3.80 3.80 3.80
Recreation Leader I 15.46 15.46 17.26 16.76
Customer Service Clerk I - - - 1.00
Activity Coordinator 2.00 1.00 1.00 1.00
Recreation Instructor - - 3.00 3.00
Recreation Commissioner 5.00 5.00 5.00 5.00
Senior Citizens Commissioner 5.00 5.00 5.00 5.00
Human Services Commissioner 5.00 5.00 5.00 5.00
Gardena Youth Commissioner 10.00 10.00 10.00 10.00
Total Recreation 57.86 56.86 62.06 62.56
Facilities
Custodian Lead 1.59 1.59 1.00 1.00
Custodian II 8.00 8.00 8.00 8.00
Custodian I 3.50 3.50 5.30 4.80
Total Facilities 13.09 13.09 14.30 13.80
Some positions are being funded by grants
Budgeted
FY 22/23
Budgeted
FY 23/24
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
Staffing Plan - Full Time Equivalent Positions
77 RECREATION & HUMAN SERVICES
RECREATION & HUMAN SERVICES cont.

Human Services
Administrative Coordinator 1.00 1.00 1.00 1.00 Human Services Aide 1.18 1.18 2.70 2.70 Community Aide II 1.00 1.00 1.00 1.00 Certified Nursing Assistant 1.44 1.44 1.44 1.44 Nutrition Services Coordinator 3.00 3.00 3.00 2.00 Social Services Coordinator - - - 1.00 Homeless Coordinator 1.00 1.00 1.00 - Human Services Coordinator - - - 3.00 Meal Services Coordinator 2.41 2.41 2.41 2.41 Geriatric Aide 0.40 0.40 0.40 0.40 Total Human Services 11.43 11.43 12.95 14.95 Aquatic & Senior Center
Recreation & Human Services Manager - 1.00 1.00 1.00 Community Center Coordinator - 1.00 1.00 - Activity Coordinator - 1.00 1.00 1.00 Administrative Aide - 1.00 1.00 - Office Specialist - - 1.00 1.00 Swim Instructor - - 1.75 3.50 Lifeguard/Instructor - 7.50 7.50 7.50 Intern - - 0.35 0.35 Total Aquatic & Senior Center - 11.50 14.60 14.35 TOTAL ELECTED & APPOINTED POSITIONS 25.00 25.00 25.00 25.00 TOTAL FTE - RECREATION & HUMAN SERVICES 57.38 67.88 78.91 80.66 Some positions are being funded by grants
Budgeted
FY 23/24
Staffing Plan - Full Time Equivalent Positions
Budgeted
FY 24/25
Proposed
Amended
FY 25/26
Budgeted
FY 22/23
78 Recreation & Human Services Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Custodian Maintenance 1,068,800 1,017,688 1,266,083 1,274,906 H.S. Youth/Family Services 372,150 386,368 448,117 445,283 Senior Program - 69,860 189,927 200,157
Aquatics - - 1,238,129 876,574
Leisure Services 2,525,977 3,064,652 3,446,673 3,943,243 Total Recreation & Human Services 3,966,927 4,538,567 6,588,929 6,740,163 Custodian
Maintenance
19%
H.S. Youth/Family
Services
7%
Senior Program
3%
Aquatics
13%
Leisure Services
58%
79 Special Revenue Funds
Recreation & Human Services
Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Senior Programs 897,400 954,274 849,910 868,908
Family Child Care 3,107,344 1,462,521 - -
Community Development Block Grants 33,525 44,094 88,840 72,469 Maxine Waters Federal Earmark - - 1,400,000 1,400,000 CPF Rosecrans Community Center - - - 1,000,000 Recreation Grants 1,898,740 5,684,754 18,854,229 11,652,295 Total Recreation & Human Services
Special Revenue Funds 5,937,009 8,145,643 21,192,979 14,993,672 Senior Programs
6%
Community Development
Block Grants
0%
Maxine Waters
Federal Earmark
9%
CPF Rosecrans Community
Center
7%
Recreation Grants
78%
80 NON-DEPARTMENTAL
81 NON-DEPARTMENTAL

PUBLIC SAFETY

LA COUNTY FIRE DISTRICT CONTRACT
EMERGENCY COMMUNICATIONS (911)

AREA G (EMERGENCY PREPAREDNESS)

CITY MANAGER
CLINT D. OSORIO

COMMUNITY PROMOTIONS

CITY CELEBRATIONS

NON-DEPARTMENTAL OPERATING
COSTS

DEBT SERVICE

INTEROPERABILITY NETWORK OF THE

SOUTH BAY (INSB)

SOUTH BAY REGIONAL PUBLIC

COMMUNICATIONS AUTHORITY (RCC)

CALIFORNIA CITIES GAMING AUTHORITY
(CCGA)
82 Non-Departmental Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Public Safety / Fire, 911, Area G 12,253,554 13,689,106 14,645,597 15,247,240 City Services 2,838,990 2,345,752 1,069,730 1,289,108
Debt Service 2,989,894 2,970,462 2,659,165 2,653,425 Transfers Out 15,536,459 16,782,476 8,719,876 5,453,982 Post Employment Benefits Fund 3,216,034 3,463,192 3,853,983 4,003,982 City OPEB Trust Fund - 750,000 600,000 550,000
Unfunded Accrued Liabilities (UAL) Fund - - - 600,000 Total Non-Departmental 36,834,931 40,000,988 31,548,351 29,797,737 Public Safety / Fire,
911, Area G
53%
City Services
5%
Debt Service
9%
Transfers Out
19%
Post Employment
Benefits Fund
14%
83 CAPITAL IMPROVEMENT

PROGRAM (CIP),
DEBT SERVICE, and

INTERNAL SERVICE FUNDS
84 CAPITAL IMPROVEMENT

PROGRAM (CIP)

PROPOSED AMENDED BUDGET
FY 2025/2026
85 CAPITAL IMPROVEMENT PROGRAM (CIP)
PARK & FACILITY IMPROVEMENTS $29,529,178
City parks & facilities, playgrounds, facility grounds, and public parkways STREETS, SEWER & STORMWATER IMPROVEMENTS $41,180,142
Maintain City streets, sanitary sewers, storm drain systems, sidewalks, curbs, crosswalks, traffic signals and signs
Ensure compliance with State & County mandated safety and air/water quality program
FY 2025-2026
CAPITAL IMPROVEMENT PROGRAM BUDGET TOTAL $70,709,320
86 Park Land in
Lieu,
$3,374,977 Measure R
Highway,
$5,289,456
State
Earmark,
$8,498,900
Prop C,
$4,310,000
Measure A,
$3,126,024
Sewer Fund,
$4,972,984
SB1,
$6,330,892
Measure M,
$5,357,000
Measure G /
Bond
Proceeds,
$8,976,366
Federal
Earmark,
$2,400,000
Measure M
Highway,
$10,649,446
Other,
$7,423,275

CAPITAL REVENUE
… Where the money comes from ...

Streets,
$35,044,541
, 49%
Parks &
Facilities,
$29,529,178
, 42%
Sewer,
$4,972,984 ,
7%
Stormwater,
$1,162,617 , 2%

CAPITAL EXPENDITURES
… Where the money goes...

Capital Improvement Program
Proposed Amended Budget Fiscal Year 2025-2026
87 88
CAPITAL IMPROVEMENT PROGRAM – STREETS
FISCAL YEAR 2025-2026
( c ) – Cont
inuing project from previous years
( n ) – New project proposed for fiscal year 2025-2026
Overall Impact on Operating Budget
There is
no financial impact to the General Fund for these projects.

These improvements in the City will benefit both citizens and visitors in the community. This will provide a safer place, as well as make the City more inviting to people visiting or wanting to move into the community.

JOB NO. PR

OJECT DESCRIPTION
930 ( c )
935 ( c )
945 ( c )
988 ( n )

506 ( c )
Vermont Ave Traffic Signal Improvements - $1,939,534
Improve traffic signals at Vermont Ave. and Rosecrans Ave., and Redondo Beach Blvd.

Artesia Blvd Signal Improvements - $5,774,922
Improve traffic signals between Western Ave. and Vermont Ave. to address existing and future traffic conditions. The scope and budget amended to include landscape and
pavement improvements.

Redondo Beach Blvd Street Improvements - $10,649,446
Improve traffic flow along Redondo Beach Blvd. from
Crenshaw Blvd. to Vermont Ave; new medians, improve
signal, signing & striping, rehabilitate concrete and pavements.

NB Crenshaw Blvd Improvements (129th to Rosecrans) -
$1,848,000
Rehabilitate asphalt pavement, striping, and improve
pedestrian safety as needed. The limits consist of County of Los Angeles jurisdiction between Channel Bridge and 135th Street.

Gardena Decorative Street Lighting - $300,600
Convert existing streetlights to SCE approved decorative lights on Gardena Blvd between Vermont and Western and 162nd
Street from Denker Ave to Western Ave.
507 ( c ) Ci
tywide Wayfinding/Entry Sign Program - $97,726
Install new and replace existing Citywide wayfinding signs to help direct drivers on city streets to city facilities such as parks, fire stations, and City Hall.
518 ( c ) Co
unty Regional Traffic Signal Synchronization Program
(TSSP) on East Rosecrans Ave - $400,000
A multi-jurisdictional project through the County of Los Angeles, the TSSP East Rosecrans Ave corridor project spans from Ocean Gate Ave to Vermont Ave. Gardena’s shared
intersections includes four streets.
519 ( c ) Co
unty Regional Traffic Signal Synchronization Program
(TSSP) on Redondo Beach Blvd - $20,000
A multi-jurisdictional project through the County of Los Angeles, the TSSP Redondo Beach Blvd corridor project
spans from Artesia Blvd to Vermont Ave. Gardena’s shared intersection includes Crenshaw Blvd. All other intersections on Crenshaw Blvd in Gardena are to be improved by City project, JN 945.
523 ( c ) Sto
rm Drain Master Plan - $222,617
Assessment of hydraulic capacity of the City’s major storm drains and prioritized set of Capital Improvement Projects to address existing and projected future capacity requirements including GIS implementation.
89 CAPITAL IMPROVEMENT PROGRAM – STREETS
FISCAL YEAR 2025-2026
( c ) – C
ontinuing project from previous years
( n ) – New project proposed for fiscal year 2025-2026
Overall Impact on Operating Budget
There i
s no financial impact to the General Fund for these projects.

JOB NO. PROJECT DESCRIPTION
525 ( c )
Local Street Improvements FY 2023/2024 - $3,034,601
Rehabilitate various local residential streets asphalt pavement, striping and pedestrian safety as needed.
526 ( c ) No
rmandie Ave (Artesia to 177th), Cassidey St (Normandie
to Vermont) and Vermont Ave (177th to 182nd ) Street
Improvements - $1,362,000
Rehabilitate various streets asphalt pavement, striping and pedestrian safety as needed.
534 ( c ) C
ounty Regional Traffic Signal Synchronization Program
(TSSP) on Manhattan Beach Blvd - $55,000
A multi-jurisdictional project through the County of Los Angeles, the TSSP Manhattan Beach Blvd corridor project spans from Manhattan Ave to Van Ness Ave. Gardena’s
shared intersection includes Van Ness Ave.
543 ( c
) County Regional Traffic Signal Synchronization Program (TSSP) on El Segundo Blvd - $50,000
A multi-jurisdictional project through the County of Los Angeles Project TSSP. El Segundo Blvd corridor project from Illinois Street to Budlong Ave. The Gardena’s shared cost is 50% of the Budlong Avenue intersection.
544 ( c ) A
nnual Local Street Improvements FY 2024/2025 -
$1,698,340
Rehabilitate various local residential streets asphalt pavement, striping and pedestrian safety as needed.
545 ( c
) Annual Pedestrian Safety Improvements FY 2024/2025 - $461,421
Remove and replace damaged curbs, gutters, sidewalks, and access ramps at various locations.
546 ( c ) A nnual Sewer Improvements FY 2024/2025 - $2,972,984 Replace or rehab deficient and high maintenance sewer mains that have leaks, root intrusion, and settlement problems.

548 ( c ) 132nd St (Wilton to Western), 135th St (Western to Budlong), Marine Ave (Western to Vermont), 145th St
(Gramercy to Western), and 166th St (Western to
Normandie) Improvements - $1,462,000
Rehabilitate various streets asphalt pavement, striping and pedestrian safety as needed.
552 ( n ) C
ounty Regional Traffic Signal Synchronization Program
(TSSP) on Crenshaw Blvd - $250,000
A multi-jurisdictional project through the County of Los Angeles, the TSSP Crenshaw Blvd corridor project spans from 120th Street to Rosecrans Ave. Gardena’s shared
intersections include El Segundo Blvd, 135
th Street, and
Rosecrans Ave.
553 ( n ) Annual Local Street Improvements FY 2025/2026 - $1,847,951
Rehabilitate various local residential streets asphalt pavement, striping and pedestrian safety as needed.
90 CAPITAL IMPROVEMENT PROGRAM – STREETS
FISCAL YEAR 2025-2026
( c ) – C
ontinuing project from previous years
( n ) – New project proposed for fiscal year 2025-2026
Overall Impact on Operating Budget
There i
s no financial impact to the General Fund for these projects.

JOB NO. PROJECT DESCRIPTION
554 ( n ) A
nnual Pedestrian Safety Improvements FY 2025/2026 -
$1,343,000
Remove and replace damaged curbs, gutters, sidewalks, and access ramps at various locations in maintenance districts four, five and six.
555 ( n )
Annual Sewer Improvements FY 2025/2026 - $2,000,000
Replace or rehab deficient and high maintenance sewer mains that have leaks, root intrusion, and settlement problems at various locations.
556 ( n )
Western Ave Street Improvements (RBB to Rosecrans) -
$1,550,000
Rehabilitate asphalt pavement, striping, and improve
pedestrian safety as needed.
557 ( n ) 157th St (Van Ness to Gramercy), 162nd St (Gramercy to Western), and 164th St (Normandie to New Hampshire)
Street Improvements - $900,000
Rehabilitate asphalt pavement, striping, and improve
pedestrian safety as needed.
565 ( n )
Gardena ITS Network Project - TBD
Improve the flow of traffic within the City by upgrading the existing legacy Traffic Signal System (TSS). The new Advance Traffic Controller (ATC) based TSS will be safer, smarter, more efficient, and more reliable. A key component of this upgrade involv
es replacing the current communication lines with a fiber optic network.
568 ( n
) Mas Fukai Park & Peary Middle School Recycled Water
Project - $100,000
Expand the use of recycled water to irrigate green spaces through a collaborative effort led by the West Basin Municipal Water District, with the City’s participation.
91 CAPITAL IMPROVEMENT PROGRAM – PARKS / FACILITIES
FISCAL YEAR 2025-2026
( c ) – Continuing project from previous years,
( n ) – New project proposed for fiscal year 2025-2026
Overall Impact on Operating Budget
There is no financial impact to the General Fund for these projects.

JOB NO. PROJECT DESCRIPTION
820 ( c ) Mas Fukai Park Rehabilitation - $8,766,024
Reconstruction of community center, restroom facilities and enhance the overall park to maximize its use, improve energy efficiency while reducing maintenance costs, and provide a variety of additional features that can accommodate the needs of residents of all ages in an all-inclusive park. 978 ( c ) Gardena Community Aquatic and Senior Center - $10,376,366
Reconstruction of pool and facility building to accommodate a new 25-yard (8) lane pool, diving bay, fitness pool with ADA ramp, new bleachers & shade structures, exercise equipment and a 12,000 square foot building that will house locker rooms for the pool as well as senior activities.
505 ( c ) Rosecrans New Community Center - $1,000,000
Conceptual design of the new community center.
520 ( c ) Rowley Park Gymnasium HVAC Upgrade – 466,208
Replace three (3) existing Carrier/BDP gas electric package units.
528 ( c ) Nakaoka Community Center Electrical System and Civic Center Outdoor lighting Upgrades - $1,047,246
Comprehensive electrical upgrade of the building’s power distribution system to accommodate increased electrical loads, future expansions, and a standby generator.

Improvements will also include enhanced Civic Center lawn and parking lot lighting to improve security and support public events, along with any incidental upgrades required to comply with state building codes.
529 ( c ) Park Electronic Signage - $574.977
Installation of new electronic signs for several parks. 530 ( c ) Rowley Park Basketball Court Rehabilitation - $686,671 Renovate/repair the existing basketball court and its drainage. 535 ( c ) Multi-Park Improvements - $250,000
Renovate/repair and upgrade the existing park facilities and amenities.
541 ( c ) Gardena City Hall Electrical System Upgrade - $428,964 Comprehensive electrical upgrade of the building’s power distribution system to accommodate increased electrical loads, future expansions, the addition of electric vehicle (EV) charging stations, and a standby generator, along with any incidental upgrades required to comply with state building codes.
551 ( c ) City Message Board at 162 nd & Western - $140,030 Update the existing electric power system in the City Hall and Police Department buildings to current standards, increase loads, and establish an emergency generator.
92 CAPITAL IMPROVEMENT PROGRAM – PARKS / FACILITIES
FISCAL YEAR 2025-2026
( c ) – C
ontinuing project from previous years,
( n ) – New project proposed for fiscal year 2025-2026
Overall Impact on Operating Budget
There is
no financial impact to the General Fund for these projects.

JOB NO. PROJECT DESCRIPTION
560 ( c
) Fiber Infrastructure Upgrade - $3,542,990
Design and deploy a fiber corridor to connect Gardena
residents, small business, schools, community facilities, and other broadband capabilities at city’s facilities.
561 ( c
) Rowley Park Gymnasium Renovation - $2,489,792
Revamp the current gymnasium facility and upgrade the
overall amenities to meet current standards and needs.
566 ( n
) Police Department GJIP Office Remodel - $300,000
Remodel the purchased dental property into Gardena
Juvenile Justice and Intervention Program office.
93 FUNDING SOURCE STREETS, SEWER & STORMWATER IMPROVEMENTS PROJECT COST Measure R Highway #930 (c) Vermont Ave Traffic Signal Improvement 1,939,534 #935 (c) Artesia Blvd. Street Improvements (Western to Vermont) 3,349,922 Measure R Highway - Total 5,289,456 $5,289,456
Measure M Highway #945 (c) RBB Street Improvements (Crenshaw to Vermont) 10,649,446 $10,649,446 SB 821 (TDA) #545 (c) Annual Pedestrian Safety Improvements FY 2024-2025 61,421 #554 (n) Pedestrian Safety Improvements FY 2025-2026 143,000 SB 821 (TDA) - Total 204,421 204,421
Prop C #935 (c) Artesia Blvd. Street Improvements (Western to Vermont) 1,650,000 #988 (c) Crenshaw Blvd St. Improvements - Rosecrans to El Segundo 348,000 #526 (c) Normandie (Artesia to 177th), Cassidey (Normandie to Vermont) and Vermont (177th to 182nd) Street Improvements 1,362,000
#543 (c) County Regional TSSP on El Segundo Blvd TSSP (At Budlong) 50,000 #556 (n) Western Ave Street Improvement 900,000
Prop C - Total 4,310,000 4,310,000
Gas Tax #507 (c) Citywide Wayfinding Program 97,726
#534 (c) County Regional TSSP on Manhattan Beach Blvd 55,000 #553 (n) Local Street Improvements 2025-2026 250,000
Gas Tax - Total 402,726 $402,726
Measure M Local #935 (c) Artesia Blvd. Street Improvements (Western to Vermont) 575,000 #518 (c) County Regional TSSP on Rosecrans 400,000
#519 (c) County Regional TSSP on RBB 20,000
#545 (c) Annual Pedestrian Safety Improvements FY 2024-2025 400,000 #548 (c)
132nd St (Wilton to Western), 135th St (Western to Budlong), Marine Ave (Western to Vermont), 145th St (Gramercy to Western), and 166th St (Western to Normandie) Improvements 1,462,000
#554 (n) Pedestrian Safety Improvements FY 2025-2026 1,200,000 #556 (n) Western Ave Street Improvement 650,000
#557 (n) 157th, 162nd & 164th Street Improvements 650,000 Measure M Local - Total 5,357,000 $5,357,000
SB 1 #525 (c) Local Street Improvements FY 2023-2024 3,034,601 #544 (c) Annual Local Street Improvements FY 2024-2025 1,698,340 #553 (n) Local Street Improvements 2025-2026 1,597,951
SB1 - Total 6,330,892 $6,330,892
CAPITAL IMPROVEMENT PROGRAM FISCAL YEAR 2025-2026 FUNDING SUMMARY 94 CAPITAL IMPROVEMENT PROGRAM FISCAL YEAR 2025-2026 FUNDING SUMMARY

FUNDING SOURCE STREETS, SEWER & STORMWATER IMPROVEMENTS PROJECT COST Measure R Local #935 (c) Artesia Blvd. Street Improvements (Western to Vermont) 200,000 #988 (c) Crenshaw Blvd St. Improvements - Rosecrans to El Segundo 1,500,000 #552 (n) County Regional TSSP on Crenshaw Blvd 250,000
#557 (n) 157th, 162nd & 164th Street Improvements 250,000 Measure R Local - Total 2,200,000 $2,200,000
Sewer Fund #546 (c) Annual Sewer Improvements FY 2024-2025 2,972,984 #555 (n) Sewer Improvements FY2025-26 2,000,000
Sewer Fund - Total 4,972,984 $4,972,984
Measure W #820 (c) Mas Fukai Park Improvements 840,000
#523 (c) Storm Drain Master Plan 222,617
#568 (n) Mas Fukai Park & Peary Middle School Recycled Water Project 100,000 Measure W - Total 1,162,617 $1,162,617
Lighting District #506 (c) Gardena Decorative Street Lighting 300,600 $300,600 STREETS, SEWER & STORMWATER IMPROVEMENTS SUBTOTAL $41,180,142 95 CAPITAL IMPROVEMENT PROGRAM FISCAL YEAR 2025-2026 FUNDING SUMMARY

FUNDING SOURCE PARK/FACILITY IMPROVEMENTS PROJECT COST
Park Land in Lieu #820 (c) Mas Fukai Park Improvements 2,800,000 #529 (c) Park Electronic Signage 574,977
Park Land in Lieu - Total 3,374,977 3,374,977
Measure A #820 (c) Mas Fukai Park Improvements 3,126,024 Measure A - Total 3,126,024 3,126,024
Prop 68 #530 (c) Rowley Park Basketball Court Rehabilitation 100,000 100,000 Bond Proceeds / Measure G #978 (c) Gardena Community Aquatic & Senior Center 8,976,366 8,976,366 Federal Earmarks #978 (c) Gardena Community Aquatic & Senior Center 1,400,000 #505 (c) Rosecrans Community Center 1,000,000
Project Reimbursements 300,000
Federal Earmarks - Total 2,700,000 2,700,000
State Earmarks #820 (c) Mas Fukai Park Improvements 2,000,000 #520 (c) Rowley Park Gymnasium HVAC Upgrade 466,208
#560 (c) Fiber Infrastructure Upgrade 3,542,900
#561 (c) Rowley Park Gymnasium Renovation 2,489,792
State Earmarks - Total 8,498,900 8,498,900
Development Impact Fee #528 (c) Civic Center Lighting Improvements 811,000 811,000 Deferred Maintenance Fund #528 (c) Civic Center Lighting Improvements 236,246 #530 (c) Rowley Park Basketball Court Rehabilitation 586,671 #535 (c) Multi-Park Improvements 250,000
#541 (c) City Hall & PD Electrical Distribution System Upgrade 428,964 #551 (c) City Message Board at 162nd & Western 140,030
$566(n) Police Department GJIP Office Remodel 300,000
Deferred Maintenance Fund - Total 1,941,911 $1,941,911 PARK/FACILITY IMPROVEMENTS SUBTOTAL $29,529,178
FISCAL YEAR 2025-2026 CIP BUDGET TOTAL $70,709,320
96 CAPITAL IMPROVEMENT PROJECT (CIP) STREET REHABILITATION TEN (10) YEAR PLAN - FISCAL YEARS ENDING 2025-2035 Prop C SB 821 Gas Tax SB1 Federal Sewer Measure W Lighting Dist. 1,940$ R
1,650$
$ 3,350
$ 200
R
L 575$ L
10,649 $ R
348$ 1,500$ L
301$
98$
400$ L
20$ L
223$
3,035$
1,362$
55$
50$
1,698$
61$ 400$ L
2,973$
1,462$ L
250$ L
NB Crenshaw Blvd Improvements (129th to
Rosecrans)
County Regional TSSP on MBB
Annual Local Street Improvements FY 24/25
Annual Pedestrian Safety Improvements FY
24/25
Annual Sewer Improvements FY 24/25
132nd St (Wilton to Western), 135th St
(Western to Budlong), Marine Ave (Western
to Vermont), 145th St (Gramercy to
Western), and 166th St (Western to
Normandie) Street Improvements
County Regional TSSP on Crenshaw
Local Street Improvement FY 23/24
Normandie (Artesia to 177th), Cassidy
(Normandie to Vermont), and Vermont
(177th to 182nd) Street Improvements
Gardena Decorative Street Lighting
Citywide Wayfinding Program
County Regional TSSP on El Segundo Blvd
FUNDING ($1,000's)
Artesia Blvd Signal Improvements (Western
Ave to Vermont Ave)
Measure R* Measure M*
FISCAL YEAR 2025-2026
Vermont Ave Traffic Signal Improvement at
Rosecrans & RBBCounty Regional TSSP on Rosecrans
RBB Street Improvements (Crenshaw to
Vermont)
County Regional TSSP on RBB
Storm Drain Master Plan
* L - Local Share R - Regional/Highway funds
97 CAPITAL IMPROVEMENT PROJECT (CIP) STREET REHABILITATION TEN (10) YEAR PLAN - FISCAL YEARS ENDING 2025-2035 Prop C SB 821 Gas Tax SB1 Federal Sewer Measure W Lighting Dist.

FUNDING ($1,000's)
Measure R* Measure M*
250$ 1,598$
143$ 1,200$ L
2,000$
900$ 650$ L
250$ L 650$ L
100$
4,310$ 204$ 7,490$ 16, 006 $ 403$ 6, 331 $ -$ 4, 973$ 323$ 301$ 1,300$ 1,000$ L 1,100$ L
600$ 1,650$
60$ 400$ L
600$
600$
1,300$ 60$ 1,000$ 1, 500$ 600$ 1, 650 $ -$ 1, 200$ -$ -$ 1,300$ 1,000$ L 1,100$ L
600$ 1,650$
60$ 400$ L
Arterial and Collector Street Improvements
FISCAL YEAR 2026 - 2027
Western Ave Street Improvement (RBB to
Rosecrans)
Annual Storm Drain Rehabilitation
Arterial and Collector Street Improvements
Local Street Improvements FY 27/28 at
Various Locations
Annual Ped Safety Improvements FY 27/28
FISCAL YEAR 2027 - 2028
TOTAL Fiscal Year 2026 - 2027
Annual Ped Safety Improvements FY 26/27
Annual Sewer Improvements (Various
Locations)
TOTAL Fiscal Year 2025 - 2026
Fukai & Peary Middle School Recycled
Water Project
Local Street Improvements FY 26/27 at
Various Locations
Annual Local Street Improvements FY 25/26
Annual Pedestrian Safety Improvements FY
25/26
Annual Sewer Improvements FY 25/26
157th St (Van Ness to Gramercy), 162nd St
(Gramercy to Western), and 164th St
(Normandie to New Hampshire) Street
Improvements
* L - Local Share R - Regional/Highway funds
98 CAPITAL IMPROVEMENT PROJECT (CIP) STREET REHABILITATION TEN (10) YEAR PLAN - FISCAL YEARS ENDING 2025-2035 Prop C SB 821 Gas Tax SB1 Federal Sewer Measure W Lighting Dist.

FUNDING ($1,000's)
Measure R* Measure M*
600$
600$
50$ L
1,300$ 60$ 1,000$ 1, 550$ 600$ 1, 650 $ -$ 1, 200$ -$ -$ 1,300$ 1,000$ L 1,100$ L
600$ 1,650$
60$ 400$ L
600$
600$
1,300$ 60$ 1,000$ 1, 500$ 600$ 1, 650 $ -$ 1, 200$ -$ -$ 1,300$ 1,000$ L 1,100$ L
600$ 1,650$
60$ 400$ L
600$
600$
1,300$ 60$ 1,000$ 1, 500$ 600$ 1, 650 $ -$ 1, 200$ -$ -$ 1,300$ 1,000$ L 1,100$ L
Annual Storm Drain Rehabilitation
Annual Ped Safety Improvements FY 29/30
FISCAL YEAR 2029-2030
TOTAL Fiscal Year 2028 - 2029
Annual Sewer Improvements (Various
Locations)
Annual Storm Drain Rehabilitation
Local Street Improvements FY 29/30 at
Various Locations
Annual Storm Drain Rehabilitation
Pavement Management System Update
Annual Sewer Improvements (Various
Locations)
FISCAL YEAR 2028 - 2029
Annual Sewer Improvements (Various
Locations)
Arterial and Collector Street Improvements
TOTAL Fiscal Year 2027 - 2028
TOTAL Fiscal Year 2029 - 2030
FISCAL YEAR 2030 - 2031
Arterial and Collector Street Improvements
Arterial and Collector Street Improvements
Local Street Improvements FY 28/29 at
Various Locations
Annual Ped Safety Improvements FY 28/29
* L - Local Share R - Regional/Highway funds
99 CAPITAL IMPROVEMENT PROJECT (CIP) STREET REHABILITATION TEN (10) YEAR PLAN - FISCAL YEARS ENDING 2025-2035 Prop C SB 821 Gas Tax SB1 Federal Sewer Measure W Lighting Dist.

FUNDING ($1,000's)
Measure R* Measure M*
600$ 1,650$
60$ 400$ L
600$
600$
50$ L
1,300$ 60$ 1,000$ 1,550$ 600$ 1,650$ -$ 1,200$ -$ -$ 1,300$ 1,000$ L 1,100$ L
600$ 1,650$
60$ 400$ L
600$
600$
1,300$ 60$ 1,000$ 1,500$ 600$ 1,650$ -$ 1,200$ -$ -$ 1,300$ 1,000$ L 1,100$ L
600$ 1,650$
60$ 400$ L
600$
600$
1,300$ 60$ 1,000$ 1,500$ 600$ 1,650$ -$ 1,200$ -$ -$ 1,300$ 1,000$ L 1,100$ L
FISCAL YEAR 2031 - 2032
Arterial and Collector Street Improvements
Annual Storm Drain Rehabilitation
Arterial and Collector Street Improvements
Annual Ped Safety Improvements FY 32/33
TOTAL Fiscal Year 2032 - 2033
Local Street Improvements FY 32/33 at
Various Locations
FISCAL YEAR 2032 - 2033
Pavement Management System Update
Annual Ped Safety Improvements FY 30/31
Annual Sewer Improvements (Various
Locations)
TOTAL Fiscal Year 2030 - 2031
Local Street Improvements FY 30/31 at
Various Locations
Arterial and Collector Street Improvements
Annual Sewer Improvements (Various
Locations)
Local Street Improvements FY 31/32 at
Various Locations
Annual Sewer Improvements (Various
Locations)
TOTAL Fiscal Year 2031 - 2032
FISCAL YEAR 2033 - 2034
Annual Ped Safety Improvements FY 31/32
Annual Storm Drain Rehabilitation
Annual Storm Drain Rehabilitation
* L - Local Share R - Regional/Highway funds
100
CAPITAL IMPROVEMENT PROJECT (CIP) STREET REHABILITATION TEN (10) YEAR PLAN - FISCAL YEARS ENDING 2025-2035 Prop C SB 821 Gas Tax SB1 Federal Sewer Measure W Lighting Dist.

FUNDING ($1,000's)
Measure R* Measure M*
600$ 1,650$
60$ 400$ L
600$
600$
50$ L
1,300$ 60$ 1,000$ 1, 550$ 600$ 1, 650 $ -$ 1, 200$ -$ -$ 1,300$ 1,000$ L 1,100$ L
600$ 1,650$
60$ 400$ L
600$
600$
50$ L
1,300$ 60$ 1,000$ 1, 550$ 600$ 1, 650 $ -$ 1, 200$ -$ -$ FISCAL YEAR 2034 - 2035
Arterial and Collector Street Improvements
Local Street Improvements FY 34/35 at
Various Locations
Annual Ped Safety Improvements FY 34/35
Annual Sewer Improvements (Various
Locations)
Annual Storm Drain Rehabilitation
Pavement Management System Update
TOTAL Fiscal Year 2034 - 2035
TOTAL Fiscal Year 2033 - 2034
Pavement Management System Update
Annual Storm Drain Rehabilitation
Local Street Improvements FY 33/34 at
Various Locations
Annual Sewer Improvements (Various
Locations)
Annual Ped Safety Improvements FY 33/34
* L - Local Share R - Regional/Highway funds
101

DEBT SERVICE

PROPOSED AMENDED BUDGET
FY 2025/2026
102
Series PRINCIPAL INTEREST TOTAL PRINCIPAL INTEREST TOTAL PRINCIPAL INTEREST TOTAL PRINCIPAL INTEREST TOTAL Certificates of Participation (COPs):
2006 A¹ 21,010,000 27,690,971 48,700,971 4,570,000 776,765 5,346,765 750,000 267,641 1,017,641 3,820,000 509,124 4,329,124 2007 A 2,800,000 1,929,165 4,729,165 940,000 174,957 1,114,957 135,000 47,825 182,825 805,000 127,132 932,132 Lease Revenue Bonds:
2014¹ 9,110,000 8,035,249 17,145,249 8,610,000 3,413,979 12,023,979 75,000 429,709 504,709 8,535,000 2,984,270 11,519,270 2021 13,155,000 5,319,216 18,474,216 11,485,000 3,561,250 15,046,250 510,000 428,250 938,250 10,975,000 3,133,000 14,108,000 Taxable Pension Obligation Bonds:
2020³ 101,490,000 36,502,806 137,992,806 85,610,000 23,822,325 109,432,325 5,075,001 2,746,266 7,821,267 80,534,999 21,076,059 101,611,058 $154,065,000 $79,477,407 $233,542,407 $111,215,000 $31,749,276 $142,964,276 $6,545,001 $3,919,691 $10,464,692 $104,669,999 $27,829,585 $132,499,584 Professional services and Admin. Fees: 12,750$
TOTAL: 10,477,442$
REVENUE SOURCES:

Transfer-in from General Fund 8,514,381$
Transfer-in from GTrans Fund 1,641,685$
Transf
er-in from Sewer Fund 76,649$
Transfer-in from Grant Funds 244,727$
10,477,442$
¹ In Fiscal Year 2014/2015, 2006 Series B was refunded by the 2014 Taxable Lease Revenue Refunding Bonds. ² Of the original principal issued, $79,193,585 was allocated to governmenal activities (General) and $22,296,415 was allocated to business-type activities (Enterprise).

ENDING BALANCE June 30, 2026ORIGINAL ISSUE BEGINNING BALANCE July 1, 2025 RETIRED FY 2025-26

CITY OF GARDENA
FISCAL YEAR 2025-2026

DEBT SERVICE REQUIREMENTS
103
BOND ISSUES: CITY OF GARDENA
Refunding Certificates of Participation
DATE OF ISSUES: June 7, 2006
AMOUNT OF ISSUE: $21,010,000.00
AMOUNT OUTSTANDING: $4,570,000.00 *
(June 30, 2025)
DESCRIPTION: The 2006 Refunding Certificates of Participation Series AB&C are issued to (1) refinance certain financial obligations of the City in connection with a Memorandum of Understanding with certain financial institutions, (2) prepay and defease certain outstanding 1994 Refunding Certificates of Participation, (3) fund a reserve fund and (4) pay certain costs of issuance.

The total $21,010,000 includes $12,495,000 aggregate principal amount of Certificates of Participation (2006 Refinancing Project, Series A), and $8,515,000 aggregate principal amount of Certificates of Participation Series B (the 2006C Certificates.) *Note-In Fiscal Year 2014-2015 the 2006 Certificate of Participation, Series B, was refunded by the 2014 Taxable Lease Revenue Refunding Bonds, Series 2014. The econmic gain on the current refunding was $1,637,398 and the savings in debt service payments was $2,360,051.

The bond interest rates vary from 3.625% to 4.500%.

PAYMENT DATES: January 1 and July 1
PAYMENT AGENT: US Bank
FY 2024-25 FY 2025-26 FY 2026-27

REVENUE SOURCES
Transfer-in from General Fund 1,021,806 1,020,391 1,020,946 TOTAL: 1,021,806$ 1,020,391$ 1,020,946$

EXPENDITURES
Interest Expense 314,056 267,641 218,196
Principal payment 705,000 750,000 800,000
Administration and trustee fees 2,750 2,750 2,750
TOTAL: 1,021,806$ 1,020,391$ 1,020,946$

DEBT SERVICE REQUIREMENTS

DEBT SERVICE REQUIREMENTS
2006 REFUNDING CERTIFICATES OF PARTICIPATION SERIES A
(Issued in 2006)
104
BOND ISSUES: CITY OF GARDENA
South Bay Communication Center
DATE OF ISSUES: January 24, 2007
AMOUNT OF ISSUE: $2,800,000.00
AMOUNT OUTSTANDING: $940,000.00
(June 30, 2025)
DESCRIPTION: The 2007 A Refunding Revenue Bonds are issued pursuant to Indenture of Trust, dated as of February 1, 2007 by and between the South Bay Regional Public Communications Authority (SBRPCA), and the Bank of New York Trust Company, N.A. as trustee. The bonds are issued to refund SBRPCA Revenue Bonds 2001Series A (City of Gardena Project) in an amount of $2,800,000, to fund the Reserve Account, and to pay certain costs of issuance.

PAYMENT DATES: January 1 and July 1
PAYMENT AGENT: Bank of New York Trust Company
FY 2024-25 FY 2025-26 FY 2026-27

REVENUE SOURCES
Transfer-in from General Fund 186,325 184,825 188,075
TOTAL: 186,325$ 184,825$ 188,075$

EXPENDITURES
Interest Expense 54,325 47,825 41,075
Principal payment 130,000 135,000 145,000
Trustee admin. services 2,000 2,000 2,000
TOTAL: 186,325$ 184,825$ 188,075$

DEBT SERVICE REQUIREMENTS

DEBT SERVICE REQUIREMENTS
2007 REVENUE BONDS SERIES A
(Issued in 2007)
105
BOND ISSUES: CITY OF GARDENA
Taxable Lease Revenue Refunding Bonds
DATE OF ISSUES: May 1, 2015
AMOUNT OF ISSUE: $9,110,000.00
AMOUNT OUTSTANDING: $8,861,000.00
(June 30, 2025)
DESCRIPTION: The 2014 Taxable Lease Revenue Refunding Bonds, were issued to (1) refund the 2006B Certificates, (2) fund capitalized interest for a portion of the Bonds through May 1, 2017, and (3) pay a portion of the costs of issuance.

The bond interest rates vary from 3.950% to 5.000%.

PAYMENT DATES: May 1 and November 1
PAYMENT AGENT: US Bank
FY 2024-25 FY 2025-26 FY 2026-27

REVENUE SOURCES
Transfer-in from General Fund 505,784 507,459 503,898
TOTAL: 505,784$ 507,459$ 503,898$

EXPENDITURES
Interest Expense 433,034 429,709 426,148
Principal payment 70,000 75,000 75,000
Administration and trustee fees 2,750 2,750 2,750
TOTAL: 505,784$ 507,459$ 503,898$

DEBT SERVICE REQUIREMENTS
2014 TAXABLE LEASE REVENUE REFUNDING BONDS
(Issued in 2015)

DEBT SERVICE REQUIREMENTS
106
BOND ISSUES: CITY OF GARDENA
Taxable Pension Obligation Bonds
DATE OF ISSUES: November 1, 2020
AMOUNT OF ISSUE: $101,490,000.00 ($79,193,585 General and $22,296,415 Enterprise) AMOUNT OUTSTANDING: $85,610,000.00 ($66,802,423 General and $18,807,577 Enterprise) (June 30, 2025)
DESCRIPTION: The 2020 Taxable Pension Obligation Bonds were issued to (1) finance a portion of the City's unfunded accrued actuarial liability to the California Public Employees' Retirement System (CalPERS) and (2) pay the costs of issuance of the bonds. Of the original principal issued, $79,193,585 was allocated to governmenal activities (General) and $22,296,415 was allocated to business-type activities (Enterprise).

The bond interest rates vary from 1.081% to 3.363%.

PAYMENT DATES: April 1 and October 1
PAYMENT AGENT: US Bank
FY 2024-25 FY 2025-26 FY 2026-27

REVENUE SOURCES
Transfer-in from General Fund 5,563,743 5,716,951 5,707,674 Transfer-in from GTrans Fund 1,601,110 1,641,685 1,640,667 Transfer-in from Sewer Fund 80,754 76,649 76,601
Transfer-in from Grant Funds 242,304 244,727 247,174
TOTAL: 7,487,911$ 7,680,012$ 7,672,117$

EXPENDITURES
Interest Expense 2,827,962 2,746,266 2,641,416 Principal payment 4,800,000 5,075,001 5,175,001 Administration and trustee fees 2,750 2,750 2,750
TOTAL: 7,630,712$ 7,824,017$ 7,819,167$

DEBT SERVICE REQUIREMENTS
2020 TAXABLE PENSION OBLIGATION BONDS
(Issued in 2020)

DEBT SERVICE REQUIREMENTS
107
BOND ISSUES: CITY OF GARDENA
Lease Revenue Bonds
DATE OF ISSUES: September 1, 2021
AMOUNT OF ISSUE: $13,155,000.00
AMOUNT OUTSTANDING: $11,485,000.00
(June 30, 2025)
DESCRIPTION: The 2021 Lease Revenue Bonds were issued to (1) finance a portion of the costs of construction of the new Gardena Community Aquatic & Senior Center, (2) finance the costs of acquiring and renovating an existing building to be converted into a new Community Center, (3) finance various park improvements, and (4) pay the costs of issuance.

The bond interest rates vary from 3.000% to 5.000%.

PAYMENT DATES: May 1 and November 1
PAYMENT AGENT: US Bank
FY 2024-25 FY 2025-26 FY 2026-27

REVENUE SOURCES
Transfer-in from General Fund 945,250 940,750 945,250
TOTAL: 945,250$ 940,750$ 945,250$

EXPENDITURES
Interest Expense 452,750 428,250 402,750
Principal payment 490,000 510,000 540,000
Administration and trustee fees 2,500 2,500 2,500
TOTAL: 945,250$ 940,750$ 945,250$

DEBT SERVICE REQUIREMENTS
2021 LEASE REVENUE BONDS
(Issued in 2021)

DEBT SERVICE REQUIREMENTS
108

INTERNAL SERVICE FUNDS

PROPOSED AMENDED BUDGET
FY 2025/2026
109

INTERNAL SERVICE FUNDS
Inter
nal Service Funds are established to cover the cost of insurance and other ongoing administrative obligations and to separate these funds from the G eneral Fund account . The City is self -insured for general liability, worker’s compensation and employee health benefits coverage. Funds in these accounts are used to pay all self -insured losses and related administrative costs with the balance in each account at the end of the fiscal year accumulated as reserves against future liabilities.

SELF - I

NSURANCE PROGRAMS
The City
retains the services of Third- Party Administrators
(TPA) to handle claims for general liability, worker’s
compensation and health care claims. Current services are provided by:

General Li
ability Claims – Carl Warren & Co.

Workers Compensation Claims – LWP Claims Solutions
Health Benefits Plan – Pinnacle Claims Management
• General Liability
The General Liability Fund provides for the City's general liability, self-insurance program, and other insurance needs in order to reduce cost and provide better control; to provide for the administration and legal service necessary for the operation of this program; to provide insurance protection against catastrophic loss or losses and to provide payment of liability insurance purchased in excess of the City’s self- insurance limits.

Charges to departments are established by the Director of Administrative Services and included in the budget manual.

Upon recommendation from the finance committee,
additional reserves may be transferred at year-end from the General Fund reserves.
• Workers C
ompensation
The Workers Compensation Fund is established to pay
administrative and legal services necessary for the
operation of this program; to provide payment of
compensation benefits and medical expenses associated
with industrial injuries; to provide insurance protection against a catastrophic loss or losses; to review and analyze the City’s industrial injury risks and determine the most suitable means of reducing employee exposure, and to
develop procedures for the administration of the City’s Self- Insurance Compensation and Safety Program.

Charges to departments are established by the Director of Administrative Services and included in the budget manual.

INTERNAL SERVICE FUNDS
• Health B
enefits
The City is self-insured for health benefits for its employees and purchases reinsurance to transfer some of its risk.

Rates are set by the Health Benefits Committee, which is comprised of management and one employee from each of
the employee bargaining groups. The committee reviews
the cost of health care, changes in benefits, and market trends in order to establish the rate for health insurance.

Fund levels are set at a 70% confidence rate.

The fund is supported through contributions of both
employees and the City as negotiated each year with the employee bargaining groups. The City’s contribution is
$1,566 per month for the employee and one dependent.

Employees contribute an additional $494 per month if they have more than one dependent insured. Rates for life
insurance varies depending on the bargaining group.

PUBLIC SERVICE GOAL: To continually build and maintain adequate reserves through annual budget contributions to protect the City’s investment in the cost of insurance and other ongoing administrative obligations. 111
Internal Service Funds Audited
2022-2023
Audited
2023-2024
Adopted
2024-2025
Proposed Amended
2025-2026
Self-Insurance Liability 3,336,652 2,797,116 2,936,554 3,610,049 Self-Insurance Workers Comp 3,904,195 1,461,438 2,417,205 2,651,776 Self-Insurance Health Benefit Fund 10,070,835 11,160,525 11,984,049 12,872,953 Total Internal Service Funds 17,311,682 15,419,078 17,337,808 19,134,778 Self-Insurance
Liability
19%
Self-Insurance
Workers Comp
14%
Self-Insurance Health
Benefit Fund
67%
112

APPENDIX
113

ACCOUNTING SYSTEM
The total set of records and procedures that are used to record, classify, and report information on the financial status and operations of an entity.

ACCOUNTS PAYABLE
Amounts owing to private persons, firms, or corporations for goods and services received.

ACCOUNTS RECEIVABLE
Amounts owing from private persons, firms, or corporations for goods and services furnished.

ACCRUAL
Transactions and events are recognized as revenues/gains or expenses/losses when they occur, regardless of the timing of the related cash flows.

ADOPTION
Formal action by the City Council that sets the spending path for the fiscal year.

ALLOCAT
ION
The practice of spreading costs among various cost centers on some predetermined reasonable basis (e.g., percentages) as opposed to distribution of expenses on a unit charge or direct identification basis.

ACTIVI
TY
A specific unit of work or service performed.

APPROP

RIATION
An authorization made by the City Council that permits officials to incur obligations against and to make expenditures of governmental resources. Appropriations are usually made for fixed amounts and are typically granted for a one-year period.

APPROP

RIATION ORDINANCE
The official enactment by the City Council establishing the legal authority for the City officials to obligate and expend resources.

ASSESSED VALUATION
The estimated value placed upon real and personal property by the County Assessor as the basis for levying property taxes.

ASSETS
The entries on a balance sheet showing all properties and claims against others that may be used directly or indirectly to cover liabilities.

AUDIT
A systematic examination of resource utilization concluding in a written report. It is a test of management’s internal accounting controls and is intended to:
• Ascertain whether financial statements fairly present financial positions and results of operations;
• Test whether transactions have been legally performed; • Identify areas for possible improvements in accounting practices and procedures;
• Ascertain whether transactions have been recorded accurately and consistently; and
• Ascertain the managerial conduct of officials responsible for governmental resources.

BALANCE SHEET
A statement purporting to present the financial position of an entity by disclosing its assets, liabilities, and fund equities as of a specific date.

Under varying circumstances, assets are carried at “lower of cost or market,” “cost less allowance for depreciation,” etc.

BOND (Debt Instrument)
A written promise to pay (debt) a specified sum of money (called principal or face value) at a specified future date (called the maturity date) along with periodic interest paid at a specified percentage of the principal (interest rate). Bonds are typically used for long- term debt to pay for specific capital expenditures.

BUDGET (Operating)
A plan of financial operation embodying an estimate of proposed expenditures for a given period (typically a fiscal year) and the proposed means of financing them (revenue estimates). The term is also sometimes used to denote the officially approved expenditure ceilings under which the City and its departments operate .

BUDGET CAL
ENDAR
The schedule of key dates or milestones which the City follows in the preparation and adoption of the budget.
114
BUDGET MESSAGE (City Manager’s)
A general discussion of the proposed budget presented in writing as a part of, or supplement to, the budget document. The budget message explains principal budget issues against the background of financial experience in recent years and presents recommendations made by the City Manager
.

CAPITAL ASSETS
Assets of significant value and having a useful life of more than one year. Capital assets are also called fixed assets.

CAPITAL BUDGET
A plan of proposed capital expenditures and the means of financing them. The capital budget is enacted as part of the City’s consolidated budget which includes both operating and capital outlays, and is based on a capital improvement program (CIP).

CAPITAL IMPROVEMENT PROGRAM (CIP)
A plan for capital expenditures to be incurred each year over a period of ten future years setting forth each capital project, the amount to be expended in each year, and the method of financing those expenditures.

CAPITAL OUTLAYS
Expenditures for the acquisitions of capital assets. Includes the cost of land, buildings, permanent improvements, machinery, large tools, rolling, and stationary equipment.

CAPITAL PROJECTS
Projects which purchase or construct capital assets. Typically a capital project encompasses a purchase of land and/or the construction of a building or facility.

CAPITAL PROJECTS FUND
Used to account for financial resources used for the acquisition or construction of major capital facilities (other than those financed by Proprietary Funds).

CERTIF

ICATE OF DEPOSIT
A negotiable or non-negotiable receipt for monies deposited in a bank or financial institution for a specified period and rate of interest.

COMMODITIES
Items of expenditure (in the operating budget) which after use, are consumed or show a material change in their physical condition, and which are generally of limited value and are characterized by rapid depreciation, i.e. office supplies and motor fuel.

CONTINGENCY
A budgetary reserve set aside for emergencies or unforeseen expenditures not otherwise budgeted for.

CONTRACTUAL SERVICES
Items of expenditure for services the City receives from an internal service fund or an outside company. Utilities, rent and maintenance service agreements are examples of contractual services.

CONSUMER PRICE INDEX (CPI):

A statistical description of price levels provided by the U.S. Department of Labor. The change in this index from year to year is used to measure the cost of living and economic inflation.

DEBT SERVICE
Payment of interest and repayment of principal to holders of the City’s debt instruments.

DEBT SERVICE FUND
Used to account for the accumulation of resources for, and payment of, general long-term debt.

DEFICIT
• The excess of entity’s liabilities over its assets (See Fund Balance). • The excess of expenditures or expenses over revenues during a single accounting period.

DEPARTMENT
An organizational unit comprised of one or more divisions.

DEPRECIATION
Expiration in the service life of capital assets attributable to wear and tear, deterioration, action of the physical elements, inadequacy or obsolescence.
• That portion of the cost of a capital asset, which is charged as an expense during a particular period.

DEBT RATI
O
A ratio that indicates the proportion of debt compared to assets, calculated by dividing total debt by total assets.
115

DIVISION
A program or activity, within a department, that furthers the objectives of the City Council by providing services or products.

ENCUMBRANCES
Obligations in the form of purchase orders or contract commitments, which are chargeable to an appropriation and for which a part of the appropriation is reserved. They cease to be encumbrances when paid or when an actual liability is set up.

ENTERP

RISE FUND
Separate financial accounting used for government operations that are financed and operated in a manner similar to business enterprises, and where the intent of the governing body is that the costs (expenses, including depreciation) of providing goods or services to the general public be financed or recovered primarily through user charges, or where the governing body had decided that periodic determination of net income is appropriate for capital maintenance, public policy, management control, or other purposes (i.e. utilities and transit systems).

EXPENDIT
URES
Where accounts are kept on the accrual or modified accrual basis of accounting, the cost of goods received or services rendered whether cash payments have been made or not. Where accounts are kept on a cash basis, expenditures are recognized only when the cash payments for the above purposes are made.

FEE
A payment or charge levied by a government entity for a specific service or good.

FISCAL
YEAR
The City’s fiscal year is based on the twelve- month period beginning July 1st and ending the following June 30th.

FIXE

D CHARGES
Items of expenditure for services rendered by internal operations of the City. Examples include: rental equipment, computer services, building rental, indirect operating expenses, and depreciation.

FRINGE

BENEFITS
Included are employee retirement, social security, Medicare, health, dental, life insurance, workers’ compensation, uniforms, and deferred compensation plans.

FULL FAITH AND CREDIT
A pledge of the City’s taxing power to repay debt obligations (typically used in reference to General Obligation Bonds or tax-supported debt).

FUND
An independent fiscal and accounting entity with a self -balancing set of accounts recording cash and/or other resources together with all related liabilities, obligations, reserves and equities which are segregated for the purpose of carrying on specific activities or attaining certain objectives.

FUND BALANCE
The excess of an entity’s assets over its liabilities. A negative fund balance is sometimes called a deficit.

GENERAL
FUND
The fund supported by taxes, fees and other revenues that may be used for any lawful purpose. The general fund accounts for all financial resources except those required to be accounted for in another fund.

GENERAL

OBLIGATION BONDS
When the City pledges its full faith and credit to the repayment of the bonds it issues, then those bonds are general obligation (G.O.) bonds.

Sometimes the term is also used to refer to bonds, which are to be repaid from taxes and other general revenues. In California, G.O. bonds must be authorized by public referenda with two- thirds voter approval.

GOVE

RNMENTAL ACCOUNTING STANDARDS BOARD
To establish and improve standards in governmental accounting and financial reporting that will result in useful information.

INTERG

OVERNMENTAL GRANT
A contribution of assets (usually cash) by one governmental unit or organization to another. Typically, these contributions are made to local governments from the State and Federal governments. Grants are usually made for specified purposes.
116

INTERNAL SERVICE FUND
Funds used to account for the financing of goods or services provided by one department or agency to another department or agency within the same organization.

INVESTM
ENT
Securities and real estate purchased and held for the production of income in the form of interest, dividends, rental or base payments.

LIABILITY
Debt or other legal obligations arising out of transactions in the past, which must be liquidated, renewed or refunded at some future date; financial obligations entered in the balance sheet. NOTE: The term does not include encumbrances.

MATURITIES
The dates on which the principal or stated values of investments or debt obligations mature and may be reclaimed.

MODIFIED ACCRUAL
Revenues are recognized when measurable and available to liquidate liabilities of the current period. Expenditures are recognized when an event or transaction is expected to draw on current or available resources.

MUNICIP

AL CODE
A book containing City Council Approved Ordinances currently in effect. The Code defines City Policy in various categories (i.e., building regulations, planning and zoning regulations, sanitation and health standards, and traffic regulations).

OBJECT

OF EXPENDITURE
Expenditure classifications based upon the types of categories of goods and services purchased. Examples include:

• personnel services (salaries and wages)
• contractual services (utilities, maintenance contracts, travel) • commodities
• fixed charges (rental of City equipment, City building rental) • capital outlays

OBJECTIVES
Departmental statements describing significant activities to be accomplished during the fiscal year.

OPERATING FUNDS
Resources derived from recurring sources used to finance ongoing operating expenditures and pay-as-you-go capital projects.

ORDINANCE
A formal legislative enactment by the governing board (City Council) of a municipality. If it is not in conflict with any higher form of law, it has the full force and effect of law within the boundaries of the municipality to which it applies.

PERFO

RMANCE MEASURES
Specific quantitative measures of work performed within an activity or program (e.g., total miles of streets cleaned). A specific quantitative measure of results obtained through a program or activity (e.g., reduced incidence of vandalism due to new street lighting program).

PERSONN

EL SERVICES
Items of expenditures in the operating budget for salaries and wages paid for services performed by City employees, the incident fringe benefit cost associated with City employment, and amounts paid to outside firms, consultants, or individuals for contract personnel services.

PROGRAM
An activity, or division, within a department, which furthers the objectives of the City Council, by providing services or a product.

RATING
The credit worthiness of a City as evaluated by independent agencies.

REIMBURS
EMENTS
Payments remitted by another agency, department, or fund to help defray the costs of a particular service or activity for which some benefit was obtained by the reimbursing party. These amounts are recorded as expenditures, or expenses in the reimbursing fund and as a reduction of expenditures, or expenses, in the fund that is reimbursed.

RESERVE
An account used to indicate that a portion of fund equity is legally restricted for a specific purpose, or set aside for emergencies or unforeseen expenditures not otherwise budgeted for. Reserve accounts can also be used to earmark a portion of fund balance to indicate that it is not appropriate for expenditures
.
117

RESOLUTION
A special order of the City Council which requires less legal formality than an Ordinance in terms of public notice and the number of public readings prior to approval. A Resolution has lower legal standing than an Ordinance. The adopted operating budget is approved by Resolution and requires a majority vote of the Council members present at the time of adoption.

RESOURCE
S
Total dollars available for appropriations including estimated revenues, fund transfers, and beginning fund balances.

REVENUE
The term designates an increase to a fund’s assets which:
• does not increase a liability (e.g., proceeds from a loan); • does not represent a repayment of an expenditure already made; • does not represent a cancellation of certain liabilities; and • does not represent an increase in contributed capital.

REVENUE BONDS
When a government issues bonds, which do not pledge the full faith and credit of the jurisdiction, it issues limited liability revenue bonds.

Typically, pledges are made to dedicate one specific revenue source to repay these bonds. In addition to a pledge of revenues, such bonds sometimes may be secured by a lien against property.

REVENUE EST
IMATES
A formal estimate of how much revenue will be earned from a specific revenue source for some future period; typically, a future fiscal year.

REVOL

VING ACCOUNT
A reserve account that is funded by the amortization of a capital asset value charged annually to the user department with the accumulated funds used to replace the asset when it has reached the end of its normal life cycle.

SALARIE

S AND BENEFITS
An operating budget category which generally accounts for full -time and part-time salaries, overtime costs, and fringe benefits.

SOURCE O

F REVENUE
Revenues are classified according to their source or point of origin.

SPECI

AL REVENUE FUND
Used to account for the proceeds of special revenue sources that are restricted by law (or administrative action) to expenditures for specific purposes.

SUPPLIES AND SERVICES
This budget category accounts for all nonpersonnel, and noncapital outlay expenses (i.e., building/structure maintenance, contractual services, equipment maintenance, office supplies, small tool purchases, and utility costs).

TAXES
Compulsory charges levied by a government for the purpose of financing services performed for the common benefit. This term does not include specific charges made against particular persons or property for current or permanent benefits, such as special assessments. Neither does this term include charges for services rendered only to those paying such charges.

TRIP

LE-FLIP
The revenue formula the State of California imposed on local government. The formula modifies (flips) the rate of distribution of three (triple) revenue sources that are passed through and distributed by the State: property tax, sales tax and motor vehicle-in-lieu fees.

TRANSFERS IN/OUT
Payments from one fund to another fund, primarily for work or services provide
d.

TRUST AND AG

ENCY FUND
A type of fund that temporarily holds monies for other agencies or legal entities.

UNIT COS
T
The cost required to produce a specific product or unit of service (e.g., the cost to purify one thousand gallons of water).

USER CHARGE
S (also known as USER FEES)
The payment of a fee for direct receipt of a public service by the party benefiting from the service.

YIELD
The rate earned on an investment based on the price paid. 118
AB Assembly Bill
ABC Alcoholic Beverage Control
ADA American Disabilities Act
AQMD Air Quality Management District
ASST Assistant
ATF Alcohol Tobacco and Firearms, US Bureau of
ATM Automated Teller Machine
AVE Avenue
BJA Bureau of Justice Assistance
BLDG Building
BLVD Boulevard
CA California
CAMP California Asset Management Program
CAPE Community Action Project for the Elderly
CCW Concealed Carry Weapon
CDBG Community Development Block Grant
CDE California Department of Education
CEO Chief Executive Officer
CEQA California Environmental Quality Act
CPF Community Project Funding
CHGS Charges
CIP Capital Improvement Projects
CO Company
CO-ED Co-educational
C of O Certificate of Occupancy
COLA Cost of Living Adjustment
COPS Citizen Option for Public Safety
CORP Corporation
CPI Consumer Price Index
CSMFO California Society of Municipal Finance Officers
DEMO Demolition
DEV Development
DHS Department of Homeland Security
DIST District
DMH Department of Mental Health
DOC Document
DUI Driving Under the Influence
EAP Employee Assistance Program
E.G. For Example (Exempli Gratia)
ENF Enforcement
EPA Environmental Protection Agency
ERAF Educational Relief Augmentation Fund
ETC Etcetera
EXP Expense
FEMA Federal Emergency Management Agency
FPPC Fair Public Practices Commission
FY Fiscal Year
GAAFR Governmental Accounting, Auditing and Financial
Reporting
GAAP Generally Accepted Accounting Practices
GAAS Generally Accepted Auditing Standards
GASB Governmental Accounting Standards Board
GEBAC Gardena Business Economic Advisory Commission
GEPCO Gardena Employee Personal Computer Opportunity
GFCC Gardena Family Child Care
GFOA Government Finance Officers Association
GIS Geographic Information System
GMBL Gardena Municipal Bus Line
GMC Gardena Municipal Code
GRAGA Gardena Royal and Ancient Golf Association
HS Human Services
HUD U.S. Department of Housing and Urban
Development
HVAC Heating, Ventilation, and Air Conditioning
ICMA International City/County Management Association
i.e. (Latin: id est) that is
IMPR Improvement
INC. Incorporated
IND Industrial
JAG Justice Assistance Grant Program
119
JR. Junior
JT POWERS Joint Powers
L.A. Los Angeles
LACDACC Los Angeles County Department of Animal Care and Control
LACoFD Los Angeles County Fire District
LP Limited Partnership
LAIF Local Agency Investment Fund
LED Light-emitting Diode
LTD. Limited
MAINT Maintenance
MDC Mobile Data Computers
MDT Mobile Data Terminals
MGMT Management
MGR. Manager
MIC Management Information Center
MISC. Miscellaneous
MTA Metropolitan Transportation Authority
N.A. National Association
NPDES National Pollutant Discharge Elimination System
OAA Older Americans Act
OCJP Office of Criminal Justice Planning
OJP Office of Justice Programs
OPEB Other Post-Employment Benefits
OSHA Occupational, Safety and Health Administration
OTS Office of Traffic Safety
PARS Public Agency Retirement System
PERS Public Employee's Retirement System
PK. Park
PL Place
PO Purchase Order
POST Police Officers Standards and Training
PRIM Primary
PROG Program
PSI Progressive Solutions, Inc.

PT Part-time
QR CODE Quick-Response Code
RCC Regional Communication Center
REC. Recreation
RFP Request for Proposal
SB Senate Bill
S.B.R.P.C.A. South Bay Regional Public Communications
Authority
SCAG Southern California Association of Governments
SCAMP Senior Community Action Meals Program
SCAMP HD Senior Community Action Meals Program-Home
Delivered
SCE Southern California Edison
SDCC Senior Day Care Center
SLESF Supplemental Law Enforcement Services Fund
SPORTS Service Providing Opportunities through
Recreational Training & Support
SR. Senior
ST Street
STC Standards and Training for Corrections Division
STEP Strategic Traffic Enforcement Program
STIP State Transportation Improvement Program
STPLHG Surface Transportation Program Local Hazard Grant SUBVN Subvention
TDA Transportation Development Act
TEA 21 Transportation Equity Act for the 21st Century
TECH Technical
TRANS Tax and Revenue Anticipation Notes
TRAP Taskforce For Regional Auto Theft Prevention
TRG Training
US United States
USDOJ U.S. Department of Justice
WRG Waste Resources of Gardena
YMCA Young Men's Christian Association
120
City of Gardena
Gardena City Council Meeting

AGENDA REPORT SUMMARY
Agenda Item No. 12.B
Section: DEPARTMENTAL

ITEMS - ADMINISTRATIVE

SERVICES
Meeting Date: June 24, 2025

TO: THE HONORABLE MAYOR AND MEMBERS OF THE GARDENA CITY COUNCIL AGENDA TITLE:

PUBLIC HEARING: RESOLUTION NO. 6704
, Establishing the
Appropriations Limit for Fiscal Year 2025-2026 (GANN Limit) COUNCIL ACTION REQUIRED:

Staff Recommendation: Staff respectfully recommends that the City Council:

Open the public hearing;
Receive testimony from the public, allow three (3) minutes for each speaker; Close the public hearing

RECOMMENDATION AND STAFF SUMMARY:

In 1979, Proposition 4, known as the GANN Initiative, was approved by the voters. As a result, Article XIII (B) of the state statute (Government Code, Section 7900-10) was enacted and requires that each year thereafter the governing body of each local jurisdiction shall, by resolution, establish its Appropriations Limit for the following year. Proposition 111, approved by the voters in 1990, amended Article XIII (B) further, and Council action is necessary to implement the amendments effective for Fiscal Year 2025-2026. The amendments of Proposition 111 specify that the annual adjustment factor in calculating the Appropriations Limit will be increased by:

The change in population growth for the City
OR
County, whichever has the higher
population growth rate
The change in California per capita personal income
OR
The growth in non-residential assessed valuation due to new construction within the City.

Pursuant to Proposition 111 amendments and upon Council approval, staff has calculated the Fiscal Year 2025-2026 Appropriations Limit using the County's population change and the percentage change in per capita personal income in California.

The Appropriations Limit for Fiscal Year 2025-2026 is $153,171,077 with appropriations of $87,331,738 subject to the limit, leaving a remaining appropriations capacity of $65,839,339.

The Appropriations Limit calculation formula is attached as reference (Exhibit A).

The Appropriations Limit for Fiscal Year 2025-2026 was publicly noticed in the Gardena Valley News on June 12, 2025.

Staff recommends that the City Council adopt Resolution No. 6704, which establishes the GANN Limit for Fiscal Year 2025-2026 at $153,171,077.

FINANCIAL IMPACT/COST:

Appropriations Limit
$153,171,077
Funding Source
All Revenue Sources
Remaining Appropriations Capacity
$65,839,339
ATTACHMENTS:

Resolution No. 6704 - GANN Limit FY 25-26 with Exhibit A.pdf

APPROVED:
___________________________________
Clint Osorio, City Manager
1 RESOLUTION NO. 6704

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

GARDENA, CALIFORNIA, ESTABLISHING ITS
APPROPRIATIONS LIMIT FOR FISCAL YEAR 2025-2026

WHEREAS, the Government Code section 7910 requires the City Council to establish its appropriations limit pursuant to Article XIII B of the State Constitution, and;

WHEREAS, said appropriations limit for fiscal year 2025-2026 has now been calculated to be $153,171,077.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GARDENA, CALIFORNIA, DOES HEREBY FIND, DETERMINE, AND RESOLVE, AS FOLLOWS:

SECTION 1. That the spending limit calculation for fiscal year 2025-2026 is set forth in “Exhibit A” attached hereto and incorporated herein as if fully set forth. The annual adjustment factors used in making such calculation are the cost of living adjustment – CPI based on the percentage change in California per capita income and the population adjustment based on the annual population change for Los Angeles County.

“The City of Gardena reserves the right to change
or revise any growth factors associated with the
calculation of the Proposition 111 limit if such
changes or revisions would result in a more
advantageous appropriations limit.”

SECTION 2. That this Resolution shall be effective immediately.

BE IT FURTHER RESOLVED that the City Clerk shall certify to the passage and adoption of this Resolution; shall cause the same to be entered among the original Resolutions of said City; and shall make a minute of the passage and adoption thereof in the records of the proceedings of the City Council of said City in the minutes of the meeting at which the same is passed and adopted.

Passed, approved, and adopted this 24th day of June, 2025.

TASHA CERDA, Mayor

ATTEST:

MINA SEMENZA, City Clerk

Docusign Envelope ID: 0B46BE3C-F81F-4F31-8A6E-54CBEF7DE13A RESOLUTION NO. 6674
2 APPROVED AS TO FORM:

CARMEN VASQUEZ, City Attorney

Docusign Envelope ID: 0B46BE3C-F81F-4F31-8A6E-54CBEF7DE13A

RESOLUTION 6704 EXHIBIT A

CALCULATION OF THE GANN LIMIT FOR THE CITY OF GARDENA FOR FISCAL YEAR 2025-2026 IN ACCORDANCE WITH PROPOSITION III AND ARTICLE XIII (B)

EXECUTIVE SUMMARY: In November 1979, the voters of California approved Proposition 4, commonly known as the Gann Initiative. This proposition created Article XIII B of the State Constitution placing limits on the amount of revenue that can be appropriated by all government entities in any fiscal year. The legislation mandates all governing bodies including the City of Gardena to annually establish the Appropriations Limit.

FISCAL IMPACT: There is no impact to the City of Gardena budget. The fiscal year 2025-2026 Appropriations Limit is $153,171,077 and will exceed the estimated General Fund spending plan of $87,331,738 in an amount of $65,839,339.

STAFF ANALYSIS:

Appropriations subject to the Limit for the prior fiscal year 2024-2025 totaled $86,265,644 against the Adopted Limit of $143,472,346 for that year.

Amount & Calculation SourceA. Appropriations Limit Fiscal Year 2024-2025 $143,472,346 Prior Fiscal YearB. Calculation Factors: 1) Population increase factor - 0.30% 0.30 + 100 (Los Angeles County) 1006.44 + 100100C. Calculated Factor for Fiscal Year 2025-2026 1.0030 x 1.0644 = 1.0676 B(1) x B(2)D. Appropriations Limit Fiscal Year 2025-2026 $143,472,346 x 1.0676 = $153,171,077 A x CE. Annual Adjustment Increase: $9,698,731 D - A 2) Per Capita Cost of Living Change - 6.44% = 1.0644 State Department of FinanceCITY OF GARDENAAppropriations Limit ScheduleFor the Fiscal Year Ending June 30, 2026= 1.0030 State Department of FinanceFY 2025-2026 Appropriations Limit $153,171,077FY 2025-2026 Adopted Budget Subject to Limit (*) 87,331,738Remaining Appropriation Capacity (Deficit) $65,839,339Available Capacity as a Percentage of Appropriation Limit 42.9842%(*) Actual Appropriations Subject to LimitFund # 010 - General Fund FY 2025-2026 Adopted Budget: $87,331,738CITY OF GARDENACalculation on FY 2025-2026 BudgetAgainstFY 2025-2026 Appropriations Limit Docusign Envelope ID: 0B46BE3C-F81F-4F31-8A6E-54CBEF7DE13A City of Gardena
Gardena City Council Meeting

AGENDA REPORT SUMMARY
Agenda Item No. 12.C
Section: DEPARTMENTAL

ITEMS - ADMINISTRATIVE

SERVICES
Meeting Date: June 24, 2025

TO: THE HONORABLE MAYOR AND MEMBERS OF THE GARDENA CITY COUNCIL AGENDA TITLE:

RESOLUTION NO. 6705
, Acknowledging the Receipt and Filing of the
Annual Statement of Investment Policy for the Fiscal Year 2025-2026 COUNCIL ACTION REQUIRED:

Staff Recommendation: Adopt Resolution No. 6705
RECOMMENDATION AND STAFF SUMMARY:

Staff requests that the City Council adopt Resolution No. 6705 approving the City's Investment Policy for Fiscal Year 2025-2026.

City staff completed a review of its Investment Policy to ensure compliance with state and federal statutes, maximizing interest and minimizing risk.

The purpose of the Investment Policy is to identify various policies and procedures that will foster a prudent and systematic investment program designed to seek the City objectives of safety, liquidity and return on investment through a diversified investment portfolio. The policy also serves to organize and formalize the City's investment related activities. The policy is written to incorporate industry best practices and recommendations from sources such as the Government Finance Officers Association (GFOA), California Municipal Treasurer's Association (CMTA), California Debt and Investment Advisory Commission (CDIAC), the Association of Public Treasurers (APT) and Chandler Asset Management, Inc.

FINANCIAL IMPACT/COST:

N/A
ATTACHMENTS:

Reso. 6705 Investment Policy 2025-2026 with Exhibit A.pdf

APPROVED:
___________________________________
Clint Osorio, City Manager
1 RESOLUTION NO. 6705

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

GARDENA, CALIFORNIA, ACKNOWLEDGING THE

RECEIPT AND FILING OF THE ANNUAL STATEMENT OF
INVESTMENT POLICY FOR THE FISCAL YEAR 2025-2026

WHEREAS, the Governor of the State of California signed legislation into law effective January 1, 1996 (SB564), and;

WHEREAS, this statement is intended to outline the policies for maximizing the efficiency of the City’s Cash Management System and for prudent investment of the City’s funds, and to provide guidelines for suitable investments.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GARDENA, CALIFORNIA, DOES HEREBY FIND, DETERMINE, AND RESOLVE, AS FOLLOWS:

SECTION 1. That the City Treasurer of the City of Gardena declares the annual Statement of Investment Policy for fiscal year 2025-2026 to be as outlined in the City of Gardena’s Investment Policy.

SECTION 2. An annual statement of investment policy for the City of Gardena has been filed by the City Treasurer for fiscal year 2025-2026 in compliance with Section 53646(A) (2) of the Government Code of the State of California.

SECTION 3. That this Resolution shall be effective immediately upon adoption by the City Council.

BE IT FURTHER RESOLVED that the City Clerk shall certify to the passage and adoption of this Resolution; shall cause the same to be entered among the original Resolutions of said City; and shall make a minute of the passage and adoption thereof in the records of the proceedings of the City Council of said City in the minutes of the meeting at which the same is passed and adopted.

Passed, approved, and adopted this 24th day of June, 2025.

TASHA CERDA, Mayor

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 RESOLUTION NO. 6675
2 ATTEST:

MINA SEMENZA, City Clerk

APPROVED AS TO FORM:

CARMEN VASQUEZ, City Attorney

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91

CITY OF GARDENA

INVESTMENT POLICY
JULY 2025

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 1 CITY OF GARDENA

INVESTMENT POLICY

CONTENTS

I. INTRODUCTION .................................................................................................................. 2 II. SCOPE................................................................................................................................ 2 III. PRUDENCE ......................................................................................................................... 2 IV. OBJECTIVES ....................................................................................................................... 3 V. DELEGATION OF AUTHORITY ............................................................................................ 3 VI. ETHICS AND CONFLICTS OF INTEREST ............................................................................... 4 VII. INTERNAL CONTROLS ........................................................................................................ 4 VIII. AUTHORIZED FINANCIAL INSTITUTIONS, DEPOSITORIES, AND BROKER/DEALERS ............ 5 IX. AUTHORIZED INVESTMENTS .............................................................................................. 6 X. PROHIBITED INVESTMENT VEHICLES AND PRACTICES ..................................................... 10 XI. INVESTMENT POOLS/MUTUAL FUNDS ............................................................................. 11 XII. COLLATERALIZATION ...................................................................................................... 11 XIII. DELIVERY, SAFEKEEPING AND CUSTODY ........................................................................ 12 XIV. MAXIMUM MATURITY .................................................................................................... 12 XV. RISK MANAGEMENT AND DIVERSIFICATION ................................................................... 12 XVI. REVIEW OF INVESTMENT PORTFOLIO .............................................................................. 13 XVII. PERFORMANCE EVALUATION .......................................................................................... 13 XVIII. REPORTING...................................................................................................................... 14 XIX. REVIEW OF INVESTMENT POLICY .................................................................................... 14 GLOSSARY OF INVESTMENT TERMS ............................................................................................... 15

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 2 I. INTRODUCTION

The purpose of this investment policy is to identify various policies and procedures that will foster a prudent and systematic investment program designed to seek the City of Gardena objectives of safety, liquidity and return on investment through a diversified investment portfolio. This policy also serves to organize and formalize the City of Gardena’s investment-related activities, while complying with all applicable statutes governing the investment of public funds. This policy is written to incorporate industry best practices and recommendations from sources such as the Government Finance Officers Association (GFOA), California Municipal Treasurers Association (CMTA), California Debt and Investment Advisory Commission (CDIAC) and the Association of Public Treasurers (APT).

This investment policy was endorsed and adopted by the City of Gardena’s City Council and is effective as of the 1st day of July, 2025, and replaces any previous versions.

II. SCOPE

This policy covers all funds and investment activities under the direct authority of the City of Gardena, as set forth in the State Government Code, Sections 53600 et seq., with the following exceptions:

 Proceeds of debt issuance shall be invested in accordance with the City of Gardena’s general investment philosophy as set forth in this policy; however, such proceeds are to be invested pursuant to the permitted investment provisions of their specific bond indentures.

 CalPERS, OPEB trusts, and the investment of employees’ deferred compensation funds invested pursuant to Government Code Section 53609.

 Any other funds specifically exempted by the City Council.

POOLING OF FUNDS
Except for cash in certain restricted and special funds, the City of Gardena will consolidate cash and reserve balances from all funds to maximize investment earnings and to increase efficiencies with regard to investment pricing, safekeeping and administration. Investment income will be allocated to the various funds based on their respective participation and in accordance with generally accepted accounting principles.

III. PRUDENCE

Pursuant to California Government Code, Section 53600.3, all persons authorized to make investment decisions on behalf of the City of Gardena are trustees and therefore fiduciaries subject to the Prudent Investor Standard:

“…all governing bodies of local agencies or persons authorized to make investment decisions on behalf of those local agencies investing public funds pursuant to this Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 3 chapter are trustees and therefore fiduciaries subject to the prudent investor standard. When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the Agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the Agency. Within the limitations of this section and considering individual investments as part of an overall strategy, investments may be acquired as authorized by law.”

The Treasurer and other authorized persons responsible for managing City of Gardena funds acting in accordance with this investment policy and exercising due diligence shall be relieved of personal responsibility for an individual security’s credit risk or market price changes provided that the Treasurer or other authorized persons acted in good faith.

Deviations from expectations of a security’s credit or market risk should be reported to the governing body in a timely fashion and appropriate action should be taken to control adverse developments.

IV. OBJECTIVES

The City of Gardena’s overall investment program shall be designed and managed with a degree of professionalism worthy of the public trust. The overriding objectives of the program, in priority order, are to preserve principal, provide sufficient liquidity, and manage investment risks, while seeking a market-rate of return.

 SAFETY. Safety of principal is the foremost objective of the investment program.

Investments will be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. To attain this objective, the City of Gardena will diversify its investments by investing funds among a variety of securities with independent returns.

 LIQUIDITY. The investment portfolio will remain sufficiently liquid to meet all operating requirements that may be reasonably anticipated.

 RETURN ON INVESTMENTS. The investment portfolio will be designed with the objective of attaining a market rate of return throughout budgetary and economic cycles, taking into account the investment risk constraints for safety and liquidity needs.

V. DELEGATION OF AUTHORITY

Authority to manage the City of Gardena’s investment program is derived from California Government Code, Sections 41006 and 53600 et seq.

The City Council is responsible for the management of the City of Gardena’s funds, including the administration of this investment policy. Management responsibility for the Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 4 cash management of the City of Gardena’s funds is hereby delegated to the Treasurer or other authorized persons.

The Treasurer, or his/her designee, will be responsible for all transactions undertaken and will establish a system of procedures and controls to regulate the activities of subordinate officials and employees. Such procedures will include explicit delegation of authority to persons responsible for investment transactions. No person may engage in an investment transaction except as provided under the terms of this policy and the procedures established by the Treasurer.

The City of Gardena may engage the services of one or more external investment advisers, who are registered under the Investment Advisers Act of 1940, to assist in the management of the City of Gardena’s investment portfolio in a manner consistent with the City of Gardena’s objectives. External investment advisers may be granted discretion to purchase and sell investment securities in accordance with this investment policy.

The City of Gardena's overall investment program shall be designed and managed with a degree of professionalism that is worthy of the public trust. The City of Gardena recognizes that in a diversified portfolio, occasional measured losses may be inevitable and must be considered within the context of the overall portfolio’s return and the cash flow requirements of the City of Gardena.

VI. ETHICS AND CONFLICTS OF INTEREST

All participants in the investment process shall act as custodians of the public trust.

Investment officials shall recognize that the investment portfolio is subject to public review and evaluation. Thus, employees and officials involved in the investment process shall refrain from personal business activity that could create a conflict of interest or the appearance of a conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions.

Employees and investment officials shall disclose to the City Manager, or his/her designee, any material interests in financial institutions with which they conduct business, and they shall further disclose any large personal financial/investment positions that could be related to the performance of the investment portfolio. Employees and officers shall refrain from undertaking any personal investment transactions with the same individual with whom business is conducted on behalf of the Agency.

VII. INTERNAL CONTROLS

The City Treasurer, or his/her designee, is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the entity are protected from loss, theft or misuse. The internal control structure shall be designed to provide reasonable assurance that these objectives are met. The concept of reasonable assurance recognizes that (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management.

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 5 Periodically, as deemed appropriate by the City of Gardena and/or the City Council, an independent analysis by an external auditor shall be conducted to review internal controls, account activity and compliance with policies and procedures.

VIII. AUTHORIZED FINANCIAL INSTITUTIONS, DEPOSITORIES, AND BROKER/DEALERS

To the extent practicable, the Treasurer, or his/her designee, shall endeavor to complete investment transactions using a competitive bid process whenever possible. The City of Gardena’s Treasurer, or his/her designee, will determine which financial institutions are authorized to provide investment services to the City of Gardena. It shall be the City of Gardena’s policy to purchase securities only from authorized institutions and firms.

The Treasurer, or his/her designee, shall maintain procedures for establishing a list of authorized broker/dealers and financial institutions which are approved for investment purposes that are selected through a process of due diligence as determined by the City of Gardena. Due inquiry shall determine whether such authorized broker/dealers, and the individuals covering the City of Gardena are reputable and trustworthy, knowledgeable and experienced in Public Agency investing and able to meet all of their financial obligations.

These institutions may include "primary" dealers or regional dealers that qualify under Securities and Exchange Commission (SEC) Rule 15c3-1 (uniform net capital rule).

In accordance with Section 53601.5, institutions eligible to transact investment business with the City of Gardena include:

 Institutions licensed by the state as a broker-dealer, as defined in Section 25004 of the Corporations Code, with proof of FINRA certifications

 Primary government dealers as designated by the Federal Reserve Bank and non- primary government dealers.

 Nationally or state-chartered banks.

 Savings association of federal association (as defined in Section 5102 of the Financial Code).

 The Federal Reserve Bank.

 Direct issuers of securities eligible for purchase.

Selection of financial institutions and broker/dealers authorized to engage in transactions will be at the sole discretion of the City of Gardena, except where the City of Gardena utilizes an external investment adviser in which case the Agency may rely on the adviser for selection.

All financial institutions which desire to become qualified bidders for investment transactions (and which are not dealing only with the investment adviser) must supply the Treasurer, or his/her designee, with audited financials and a statement certifying that the institution has reviewed the California Government Code, Section 53600 et seq. and the Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 6 City of Gardena’s investment policy. The Treasurer, or his/her designee, will conduct an annual review of the financial condition and registrations of such qualified bidders.

Public deposits will be made only in qualified public depositories as established by State law. Deposits will be insured by the Federal Deposit Insurance Corporation, or, to the extent the amount exceeds the insured maximum, will be collateralized in accordance with State law.

Selection of broker/dealers used by an external investment adviser retained by the City of Gardena will be at the sole discretion of the adviser. Where possible, transactions with broker/dealers shall be selected on a competitive basis and their bid or offering prices shall be recorded. If there is no other readily available competitive offering, best efforts will be made to document quotations for comparable or alternative securities. When purchasing original issue instrumentality securities, no competitive offerings will be required as all dealers in the selling group offer those securities at the same original issue price.

IX. AUTHORIZED INVESTMENTS

The City of Gardena’s investments are governed by California Government Code, Sections 53600 et seq. Within the investments permitted by the Code, the City of Gardena seeks to further restrict eligible investments to the guidelines listed below. In the event a discrepancy is found between this policy and the Code, the more restrictive parameters will take precedence. Percentage holding limits listed in this section apply at the time the security is purchased.

Any investment currently held at the time the policy is adopted which does not meet the new policy guidelines can be held until maturity, and shall be exempt from the current policy. At the time of the investment’s maturity or liquidation, such funds shall be reinvested only as provided in the current policy.

An appropriate risk level shall be maintained by primarily purchasing securities that are of high quality, liquid, and marketable. The portfolio shall be diversified by security type and issuer to avoid incurring unreasonable and avoidable risks regarding specific security types or individual issuers.

1. MUNICIPAL SECURITIES include obligations of the City of Gardena, the State of California and any local agency within the State of California, provided that:

 The securities are rated in a rating category of “A” or its equivalent or better by at least one nationally recognized statistical rating organization (“NRSRO”).  No more than 5% of the total portfolio may be invested in any single issuer.  No more than 30% of the total portfolio may be in Municipal Securities.  The maximum maturity does not exceed five (5) years.

2. MUNICIPAL SECURITIES (REGISTERED TREASURY NOTES OR BONDS) of any of the other 49 states in addition to California, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a state or by a department, board, agency, or authority of any of the other 49 states, in addition to California.

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 7  The securities are rated in a rating category of “A” or its equivalent or better by at least one nationally recognized statistical rating organization (“NRSRO”).  No more than 5% of the total portfolio may be invested in any single issuer.  No more than 30% of the total portfolio may be in Municipal Securities.  The maximum maturity does not exceed five (5) years.

3. U.S. TREASURIES and other government obligations for which the full faith and credit of the United States are pledged for the payment of principal and interest. There are no limits on the dollar amount or percentage that the City of Gardena may invest in U.S.

Treasuries, provided that:

 The maximum maturity is five (5) years.

4. FEDERAL AGENCIES or United States Government-Sponsored Enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government-sponsored enterprises. There are no limits on the dollar amount or percentage that the City of Gardena may invest in Federal Agency or Government-Sponsored Enterprises (GSEs), provided that:

 No more than 25% of the total portfolio may be invested in any single Agency/GSE issuer.
 The maximum maturity does not exceed five (5) years.
 The maximum percent of agency callable securities in the total portfolio will be 20%.

5. BANKER’S ACCEPTANCES, provided that:

 They are issued by institutions which have short-term debt obligations rated “A-1” or its equivalent or better by at least one NRSRO; or long-term debt obligations which are rated in a rating category of “A” or its equivalent or better by at least one NRSRO.
 No more than 40% of the total portfolio may be invested in Banker’s Acceptances.  No more than 5% of the total portfolio may be invested in any single issuer.  The maximum maturity does not exceed 180 days.

6. COMMERCIAL PAPER, provided that:

 The issuer is a corporation organized and operating in the United States with assets in excess of $500 million.
 The securities are rated “A-1” or its equivalent or better by at least one NRSRO.  They are issued by corporations which have long-term obligations rated in a rating category of “A” or its equivalent or better by at least one NRSRO.  City of Gardena may purchase no more than 10% of the outstanding commercial paper of any single issuer.
 No more than 25% of the total portfolio may be invested in Commercial Paper.  No more than 5% of the total portfolio may be invested in any single issuer.

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 8  The maximum maturity does not exceed 270 days.

7. NEGOTIABLE CERTIFICATES OF DEPOSIT (NCDS), issued by a nationally or state- chartered bank, a savings association or a federal association, a state or federal credit union, or by a federally licensed or state-licensed branch of a foreign bank, provided that:

 The amount of the NCD insured up to the FDIC limit does not require any credit ratings.
 Any amount above the FDIC insured limit must be issued by institutions which have short-term debt obligations rated “A-1” or its equivalent or better by at least one NRSRO; or long-term obligations rated in a rating category of “A” or its equivalent or better by at least one NRSRO.
 No more than 30% of the total portfolio may be invested in NCDs (combined with CDARS).
 No more than 5% of the total portfolio may be invested in any single issuer.  The maximum maturity does not exceed five (5) years.

8. FEDERALLY INSURED TIME DEPOSITS (Non-Negotiable Certificates of Deposit) in state or federally chartered banks, savings and loans, or credit unions, provided that:

 The amount per institution is limited to the maximum covered under federal insurance.
 No more than 20% of the total portfolio will be invested in a combination of federally insured and collateralized time deposits.
 The maximum maturity does not exceed five (5) years.

9. COLLATERALIZED TIME DEPOSITS (Non-Negotiable Certificates of Deposit) in state or federally chartered banks, savings and loans, or credit unions in excess of insured amounts which are fully collateralized with securities in accordance with California law, provided that:

 No more than 20% of the portfolio will be invested in a combination of federally insured and collateralized time deposits.
 The maximum maturity does not exceed five (5) years.

10. PLACEMENT DEPOSIT SERVICE provided that:

 No more than 30% of the total portfolio may be invested in a combination of Certificates of Deposit, including CDARS.
 The full amount of each deposit along with accrued interest must at all times be insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA)
 Under a provision sunsetting on January 1, 2031, no more than 50% of the portfolio may be invested in deposits through a placement service, including Certificates of Deposit, if the Agency is a city, district or local agency that does not pool money with other local agencies.
 The maximum maturity does not exceed five (5) years.

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 9 11. COLLATERALIZED BANK DEPOSITS. City of Gardena’s deposits with financial institutions will be collateralized with pledged securities per California Government Code, Section 53651. There are no limits on the dollar amount or percentage that the City of Gardena may invest in collateralized bank deposits.

12. STATE OF CALIFORNIA LOCAL AGENCY INVESTMENT FUND (LAIF), provided that:

 The City of Gardena may invest up to the maximum amount permitted by LAIF.  LAIF’s investments in instruments prohibited by or not specified in the City of Gardena’s policy do not exclude the investment in LAIF itself from the City of Gardena’s list of allowable investments, provided LAIF’s reports allow the Treasurer to adequately judge the risk inherent in LAIF’s portfolio.

13. LOCAL GOVERNMENT INVESTMENT POOLS (LGIPS)

 Permitted LGIPs comprise the following programs:
o California Asset Management Program (CAMP) Pool
o California Asset Management Program (CAMP) Term
o Investment Trust of California (CalTRUST)
o Los Angeles County Pooled Investment Fund (LACPIF)

14. CORPORATE MEDIUM TERM NOTES (MTNS), provided that:

 The issuer is a corporation organized and operating within the United States or by depository institutions licensed by the United States or any state and operating within the United States.
 The securities are rated in a rating category of “A” or its equivalent or better by at least one NRSRO.
 No more than 30% of the total portfolio may be invested in MTNs.  No more than 5% of the total portfolio may be invested in any single issuer.  The maximum maturity does not exceed five (5) years.

15. ASSET-BACKED, MORTGAGE-BACKED, MORTGAGE PASS-THROUGH SECURITIES, AND COLLATERALIZED MORTGAGE OBLIGATIONS, provided that:

 The securities are rated in a rating category of “AA” or its equivalent or better by a NRSRO.
 No more than 20% of the total portfolio may be invested in these securities.  No more than 5% of the total portfolio may be invested in any single Asset-Backed or Commercial Mortgage security issuer. There is no issuer limitation on any Mortgage security where the issuer is the US Treasury or a Federal Agency/GSE.  The maximum legal final maturity does not exceed five (5) years.

16. MUTUAL FUNDS AND MONEY MARKET MUTUAL FUNDS that are registered with the Securities and Exchange Commission under the Investment Company Act of 1940, provided that:

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 10  MUTUAL FUNDS that invest in the securities and obligations as authorized under California Government Code, Section 53601 (a) to (k) and (m) to (q) inclusive and that meet either of the following criteria:

1. Attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs; or

2. Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience investing in the securities and obligations authorized by California Government Code, Section 53601 and with assets under management in excess of $500 million.

3. No more than 10% of the total portfolio may be invested in shares of any one mutual fund.

 MONEY MARKET MUTUAL FUNDS registered with the Securities and Exchange Commission under the Investment Company Act of 1940 and issued by diversified management companies and meet either of the following criteria:

1. Have attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs; or

2. Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience managing money market mutual funds with assets under management in excess of $500 million.

3. No more than 20% of the total portfolio may be invested in the shares of any one Money Market Mutual Fund.

 No more than 20% of the total portfolio may be invested in these securities.

17. SUPRANATIONALS, provided that:
 Issues are US dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development, International Finance Corporation, or Inter-American Development Bank.
 The securities are rated in a rating category of “AA” or its equivalent or better by a NRSRO.
 No more than 30% of the total portfolio may be invested in these securities.  No more than 10% of the total portfolio may be invested in any single issuer.  The maximum maturity does not exceed five (5) years.

X. PROHIBITED INVESTMENT VEHICLES AND PRACTICES

 State law notwithstanding, any investments not specifically described herein are prohibited, including, but not limited to futures and options.  In accordance with Government Code, Section 53601.6, investment in inverse floaters, range notes, or mortgage derived interest-only strips is prohibited.  No surplus city funds shall be invested in any repurchase agreements, reverse repurchase agreements, derivatives or noncollateralized corporate notes Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 11  Investment in any security that could result in a zero interest accrual if held to maturity is prohibited. Under a provision sunsetting on January 1, 2026, securities backed by the U.S. Government that could result in a zero- or negative-interest accrual if held to maturity are permitted.
 Trading securities for the sole purpose of speculating on the future direction of interest rates is prohibited.
 Purchasing or selling securities on margin is prohibited.  The purchase of foreign currency denominated securities is prohibited.  The purchase of a security with a forward settlement date exceeding 45 days from the time of investment is prohibited.

XI. INVESTMENT POOLS/MUTUAL FUNDS

The City of Gardena shall conduct a thorough investigation of any pool or mutual fund prior to making an investment, and on a continual basis thereafter. The Treasurer shall develop a questionnaire which will answer the following general questions:

1. A description of eligible investment securities, and a written statement of investment policy and objectives.

2. A description of interest calculations and how it is distributed, and how gains and losses are treated.

3. A description of how the securities are safeguarded (including the settlement processes), and how often the securities are priced and the program audited.

4. A description of who may invest in the program, how often, what size deposit and withdrawal are allowed.

5. A schedule for receiving statements and portfolio listings.

6. Are reserves, retained earnings, etc. utilized by the pool/fund?

7. A fee schedule, and when and how is it assessed.

8. Is the pool/fund eligible for bond proceeds and/or will it accept such proceeds? XII. COLLATERALIZATION

CERTIFICATES OF DEPOSIT (CDS). The City of Gardena shall require any commercial bank or savings and loan association to deposit eligible securities with an agency of a depository approved by the State Banking Department to secure any uninsured portion of a Non-Negotiable Certificate of Deposit. The value of eligible securities as defined pursuant to California Government Code, Section 53651, pledged against a Certificate of Deposit shall be equal to 150% of the face value of the CD if the securities are classified as mortgages and 110% of the face value of the CD for all other classes of security.

COLLATERALIZATION OF BANK DEPOSITS. This is the process by which a bank or financial institution pledges securities, or other deposits for the purpose of securing repayment of deposited funds. The City of Gardena shall require any bank or financial institution to comply with the collateralization criteria defined in California Government Code, Section 53651.

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 12 XIII. DELIVERY, SAFEKEEPING AND CUSTODY

DELIVERY-VERSUS-PAYMENT (DVP). All investment transactions shall be conducted on a delivery-versus-payment basis.

SAFEKEEPING AND CUSTODY. To protect against potential losses due to failure of individual securities dealers, and to enhance access to securities, interest payments and maturity proceeds, all cash and securities in the City of Gardena’s portfolio shall be held in safekeeping in the City of Gardena’s name by a third party custodian, acting as agent for the City of Gardena under the terms of a custody agreement executed by the bank and the City of Gardena. All investment transactions will require a safekeeping receipt or acknowledgment generated from the trade. A monthly report will be received by the City of Gardena from the custodian listing all securities held in safekeeping with current market data and other information.

The only exceptions to the foregoing shall be depository accounts and securities purchases made with: (i) local government investment pools; (ii) time certificates of deposit, and, (iii) money mutual funds, since the purchased securities are not deliverable.

XIV. MAXIMUM MATURITY

To the extent possible, investments shall be matched with anticipated cash flow requirements and known future liabilities.

The City of Gardena will not invest in securities maturing more than five (5) years from the date of trade settlement, unless the City Council has by resolution granted authority to make such an investment.

XV. RISK MANAGEMENT AND DIVERSIFICATION

MITIGATING CREDIT RISK IN THE PORTFOLIO
Credit risk is the risk that a security or a portfolio will lose some or all of its value due to a real or perceived change in the ability of the issuer to repay its debt. The City of Gardena will mitigate credit risk by adopting the following strategies:

 The diversification requirements included in the “Authorized Investments” section of this policy are designed to mitigate credit risk in the portfolio.

 No more than 5% of the total portfolio may be deposited with or invested in securities issued by any single issuer unless otherwise specified in this policy.

 The City of Gardena may elect to sell a security prior to its maturity and record a capital gain or loss in order to manage the quality, liquidity or yield of the portfolio in response to market conditions or City of Gardena’s risk preferences.

 If securities owned by the City of Gardena are downgraded by an NRSRO to a level below the quality required by this investment policy, it will be the City of Gardena’s Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 13 policy to review the credit situation and make a determination as to whether to sell or retain such securities in the portfolio.

1. If a security is downgraded, the Treasurer will use discretion in determining whether to sell or hold the security based on its current maturity, the economic outlook for the issuer, and other relevant factors.

2. If a decision is made to retain a downgraded security in the portfolio, its presence in the portfolio will be monitored and reported monthly to the City Council.

MITIGATING MARKET RISK IN THE PORTFOLIO
Market risk is the risk that the portfolio value will fluctuate due to changes in the general level of interest rates. The City of Gardena recognizes that, over time, longer-term portfolios have the potential to achieve higher returns. On the other hand, longer-term portfolios have higher volatility of return. The City of Gardena will mitigate market risk by providing adequate liquidity for short-term cash needs, and by making longer-term investments only with funds that are not needed for current cash flow purposes.

The City of Gardena further recognizes that certain types of securities, including variable rate securities, securities with principal paydowns prior to maturity, and securities with embedded options, will affect the market risk profile of the portfolio differently in different interest rate environments. The City of Gardena, therefore, adopts the following strategies to control and mitigate its exposure to market risk:

 The City of Gardena will maintain a minimum of six months of budgeted operating expenditures in short term investments to provide sufficient liquidity for expected disbursements.

 The maximum stated final maturity of individual securities in the portfolio will be five (5) years, except as otherwise stated in this policy.

 The duration of the portfolio will generally be approximately equal to the duration (typically, plus or minus 20%) of a Market Benchmark, an index selected by the City of Gardena based on the City of Gardena’s investment objectives, constraints and risk tolerances.

XVI. REVIEW OF INVESTMENT PORTFOLIO

The Treasurer shall periodically, but no less than quarterly, review the portfolio to identify investments that do not comply with this investment policy and establish protocols for reporting major and critical incidences of noncompliance to the City Council.

XVII. PERFORMANCE EVALUATION

The investment portfolio shall be designed to attain a market-average rate of return throughout budgetary and economic cycles, taking into account the City of Gardena’s risk Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91

15 GLOSSARY OF INVESTMENT TERMS

AGENCIES. Shorthand market terminology for any obligation issued by a government-sponsored entity (GSE), or a federally related institution. Most obligations of GSEs are not guaranteed by the full faith and credit of the US government. Examples are:

FFCB. The Federal Farm Credit Bank System provides credit and liquidity in the agricultural industry. FFCB issues discount notes and bonds.

FHLB. The Federal Home Loan Bank provides credit and liquidity in the housing market. FHLB issues discount notes and bonds.

FHLMC. Like FHLB, the Federal Home Loan Mortgage Corporation provides credit and liquidity in the housing market. FHLMC, also called “FreddieMac” issues discount notes, bonds and mortgage pass-through securities.

FNMA. Like FHLB and FreddieMac, the Federal National Mortgage Association was established to provide credit and liquidity in the housing market. FNMA, also known as “FannieMae,” issues discount notes, bonds and mortgage pass-through securities.

GNMA. The Government National Mortgage Association, known as “GinnieMae,” issues mortgage pass-through securities, which are guaranteed by the full faith and credit of the US Government.

PEFCO. The Private Export Funding Corporation assists exporters. Obligations of PEFCO are not guaranteed by the full faith and credit of the US government.

TVA. The Tennessee Valley Authority provides flood control and power and promotes development in portions of the Tennessee, Ohio, and Mississippi River valleys. TVA currently issues discount notes and bonds.

ASSET BACKED SECURITIES. Securities supported by pools of installment loans or leases or by pools of revolving lines of credit.

AVERAGE LIFE. In mortgage-related investments, including CMOs, the average time to expected receipt of principal payments, weighted by the amount of principal expected.

BANKER’S ACCEPTANCE. A money market instrument created to facilitate international trade transactions.

It is highly liquid and safe because the risk of the trade transaction is transferred to the bank which “accepts” the obligation to pay the investor.

BENCHMARK. A comparison security or portfolio. A performance benchmark is a partial market index, which reflects the mix of securities allowed under a specific investment policy.

BROKER. A broker brings buyers and sellers together for a transaction for which the broker receives a commission. A broker does not sell securities from their own position.

CALLABLE. A callable security gives the issuer the option to call it from the investor prior to its maturity.

The main cause of a call is a decline in interest rates. If interest rates decline, the issuer will likely call its current securities and reissue them at a lower rate of interest.

CALIFORNIA ASSET MANAGEMENT PROGRAM (CAMP). CAMP is a Joint Powers Authority which was established to provide local California governments with investment management services. The CAMP Pool investment option offers daily liquidity and underscores safety of principal and liquidity as the primary objectives.

CERTIFICATE OF DEPOSIT (CD). A time deposit with a specific maturity evidenced by a certificate.

COLLATERAL. Securities or cash pledged by a borrower to secure repayment of a loan or repurchase agreement. Also, securities pledged by a financial institution to secure deposits of public monies.

COLLATERALIZED BANK DEPOSIT. A bank deposit that is collateralized at least 100% (principal plus interest to maturity). The deposit is collateralized using assets set aside by the issuer such as Treasury securities or other qualified collateral to secure the deposit in excess of the limit covered by the Federal Deposit Insurance Corporation.

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 16 COLLATERALIZED MORTGAGE OBLIGATIONS (CMO). Classes of bonds that redistribute the cash flows of mortgage securities (and whole loans) to create securities that have different levels of prepayment risk, as compared to the underlying mortgage securities.

COLLATERALIZED TIME DEPOSIT. Time deposits that are collateralized at least 100% (principal plus interest to maturity). These instruments are collateralized using assets set aside by the issuer such as Treasury securities or other qualified collateral to secure the deposit in excess of the limit covered by the Federal Deposit Insurance Corporation.

COMMERCIAL PAPER. The short-term unsecured debt of corporations.

COUPON. The rate of return at which interest is paid on a bond.

CREDIT RISK. The risk that principal and/or interest on an investment will not be paid in a timely manner due to changes in the condition of the issuer.

DEALER. A dealer acts as a principal in security transactions, selling securities from and buying securities for their own position.

DELIVERY VS. PAYMENT (DVP). A securities industry procedure whereby payment for a security must be made at the time the security is delivered to the purchaser’s agent.

DERIVATIVE. Any security that has principal and/or interest payments which are subject to uncertainty (but not for reasons of default or credit risk) as to timing and/or amount, or any security which represents a component of another security which has been separated from other components (“Stripped” coupons and principal). A derivative is also defined as a financial instrument the value of which is totally or partially derived from the value of another instrument, interest rate, or index.

DISCOUNT. The difference between the par value of a bond and the cost of the bond, when the cost is below par. Some short-term securities, such as T-bills and banker’s acceptances, are known as discount securities. They sell at a discount from par and return the par value to the investor at maturity without additional interest. Other securities, which have fixed coupons, trade at a discount when the coupon rate is lower than the current market rate for securities of that maturity and/or quality.

DIVERSIFICATION. Dividing investment funds among a variety of investments to avoid excessive exposure to any one source of risk.

DURATION. The weighted average time to maturity of a bond where the weights are the present values of the future cash flows. Duration measures the price sensitivity of a security to changes interest rates.

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC). The Federal Deposit Insurance Corporation (FDIC) is an independent federal agency insuring deposits in U.S. banks and thrifts in the event of bank failures. The FDIC was created in 1933 to maintain public confidence and encourage stability in the financial system through the promotion of sound banking practices.

FEDERALLY INSURED TIME DEPOSIT. A time deposit is an interest-bearing bank deposit account that has a specified date of maturity, such as a certificate of deposit (CD). These deposits are limited to funds insured in accordance with FDIC insurance deposit limits.

FIDUCIARY. A person or organization that acts on behalf of another person(s) or organization that puts their clients’ interest ahead of their own as they are bound both legally and ethically to act in the other’s best interests.

INVESTMENT TRUST OF CALIFORNIA (CALTRUST). CalTrust is a Joint Powers Authority formed by public agencies in California for the purposes of pooling and investing local public agency funds.

The accounts seek to attain a high-level of current income that is consistent with the preservation of principal in compliance with restrictions and limits placed by CA statue.

LEVERAGE. Borrowing funds in order to invest in securities that have the potential to pay earnings at a rate higher than the cost of borrowing.

LIQUIDITY. The speed and ease with which an asset can be converted to cash.

LOCAL AGENCY INVESTMENT FUND (LAIF). A voluntary investment fund open to government entities and certain non-profit organizations in California that is managed by the State Treasurer’s Office.

LOCAL GOVERNMENT INVESTMENT POOL. Investment pools that range from the State Treasurer’s Office Local Agency Investment Fund (LAIF) to county pools, to Joint Powers Authorities (JPAs). These funds are not subject to the same SEC rules applicable to money market mutual funds.

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 17 LOS ANGELES COUNTY POOLED INVESTMENT FUND (LACPIF). LACPIF is a Joint Powers Authority maintained by the Los Angeles County Treasurer and Tax Collector created for the benefit of local agencies.

MAKE WHOLE CALL. A type of call provision on a bond that allows the issuer to pay off the remaining debt early. Unlike a call option, with a make whole call provision, the issuer makes a lump sum payment that equals the net present value (NPV) of future coupon payments that will not be paid because of the call. With this type of call, an investor is compensated, or "made whole." MARGIN. The difference between the market value of a security and the loan a broker makes using that security as collateral.

MARKET RISK. The risk that the value of securities will fluctuate with changes in overall market conditions or interest rates.

MARKET VALUE. The price at which a security can be traded.

MATURITY. The final date upon which the principal of a security becomes due and payable. The investment’s term or remaining maturity is measured from the settlement date to final maturity.

MEDIUM TERM NOTES. Unsecured, investment-grade senior debt securities of major corporations which are sold in relatively small amounts on either a continuous or an intermittent basis. MTNs are highly flexible debt instruments that can be structured to respond to market opportunities or to investor preferences.

MODIFIED DURATION. The percent change in price for a 100-basis point change in yields. Modified duration is the best single measure of a portfolio’s or security’s exposure to market risk.

MONEY MARKET. The market in which short-term debt instruments (T-bills, discount notes, commercial paper, and banker’s acceptances) are issued and traded.

MONEY MARKET MUTUAL FUND. A mutual fund that invests exclusively in short-term securities.

Examples of investments in money market funds are certificates of deposit and U.S. Treasury securities. Money market funds attempt to keep their net asset values at $1 per share.

MORTGAGE PASS-THROUGH SECURITIES. A securitized participation in the interest and principal cash flows from a specified pool of mortgages. Principal and interest payments made on the mortgages are passed through to the holder of the security.

MUNICIPAL SECURITIES. Securities issued by state and local agencies to finance capital and operating expenses.

MUTUAL FUND. An entity which pools the funds of investors and invests those funds in a set of securities which is specifically defined in the fund’s prospectus. Mutual funds can be invested in various types of domestic and/or international stocks, bonds, and money market instruments, as set forth in the individual fund’s prospectus. For most large, institutional investors, the costs associated with investing in mutual funds are higher than the investor can obtain through an individually managed portfolio.

NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATION (NRSRO).

A credit rating agency that the Securities and Exchange Commission in the United States uses for regulatory purposes. Credit rating agencies provide assessments of an investment's risk. The issuers of investments, especially debt securities, pay credit rating agencies to provide them with ratings. The three most prominent NRSROs are Fitch, S&P, and Moody's.

NEGOTIABLE CERTIFICATE OF DEPOSIT (CD). A short-term debt instrument that pays interest and is issued by a bank, savings or federal association, state or federal credit union, or state-licensed branch of a foreign bank. Negotiable CDs are traded in a secondary market.

PAYDOWN. A reduction in the principal amount owed on a bond, loan, or other debt.

PLACEMENT SERVICE DEPOSITS. A private service that allows local agencies to invest in FDIC-insured deposits with one or more banks, savings and loans, and credit unions located in the United States.

IntraFi (formerly known as CDARS) is an example of an entity that provides this service.

PRIMARY DEALER. A financial institution (1) that is a trading counterparty with the Federal Reserve in its execution of market operations to carry out U.S. monetary policy, and (2) that participates for statistical reporting purposes in compiling data on activity in the U.S. Government securities market.

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 18 PRUDENT PERSON (PRUDENT INVESTOR) RULE. A standard of responsibility which applies to fiduciaries.

In California, the rule is stated as “Investments shall be managed with the care, skill, prudence and diligence, under the circumstances then prevailing, that a prudent person, acting in a like capacity and familiar with such matters, would use in the conduct of an enterprise of like character and with like aims to accomplish similar purposes.”
REPURCHASE AGREEMENT. Short-term purchases of securities with a simultaneous agreement to sell the securities back at a higher price. From the seller’s point of view, the same transaction is a reverse repurchase agreement.

SAFEKEEPING. A service to bank customers whereby securities are held by the bank in the customer’s name.

SECURITIES AND EXCHANGE COMMISSION (SEC). The U.S. Securities and Exchange Commission (SEC) is an independent federal government agency responsible for protecting investors, maintaining fair and orderly functioning of securities markets and facilitating capital formation. It was created by Congress in 1934 as the first federal regulator of securities markets. The SEC promotes full public disclosure, protects investors against fraudulent and manipulative practices in the market, and monitors corporate takeover actions in the United States.

SECURITIES AND EXCHANGE COMMISSION SEC) RULE 15C3-1. An SEC rule setting capital requirements for brokers and dealers. Under Rule 15c3-1, a broker or dealer must have sufficient liquidity in order to cover the most pressing obligations. This is defined as having a certain amount of liquidity as a percentage of the broker/dealer's total obligations. If the percentage falls below a certain point, the broker or dealer may not be allowed to take on new clients and may have restrictions placed on dealings with current client.

STRUCTURED NOTE. Notes issued by Government Sponsored Enterprises (FHLB, FNMA, etc.) and Corporations, which have imbedded options (e.g., call features, step-up coupons, floating rate coupons, derivative-based returns) into their debt structure. Their market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded options and shifts in the shape of the yield curve.

SUPRANATIONAL. A Supranational is a multi-national organization whereby member states transcend national boundaries or interests to share in the decision making to promote economic development in the member countries.

TOTAL RATE OF RETURN. A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending value; it includes interest earnings, realized and unrealized gains, and losses in the portfolio.

U.S. TREASURY OBLIGATIONS. Securities issued by the U.S. Treasury and backed by the full faith and credit of the United States. Treasuries are considered to have no credit risk and are the benchmark for interest rates on all other securities in the US and overseas. The Treasury issues both discounted securities and fixed coupon notes and bonds.

TREASURY BILLS. All securities issued with initial maturities of one year or less are issued as discounted instruments and are called Treasury bills. The Treasury currently issues three- and six-month T- bills at regular weekly auctions. It also issues “cash management” bills as needed to smooth out cash flows.

TREASURY NOTES. All securities issued with initial maturities of two to ten years are called Treasury notes and pay interest semi-annually.

TREASURY BONDS. All securities issued with initial maturities greater than ten years are called Treasury bonds. Like Treasury notes, they pay interest semi-annually.

YIELD TO MATURITY. The annualized internal rate of return on an investment which equates the expected cash flows from the investment to its cost.

Docusign Envelope ID: 57389C70-61F2-45BA-9EEB-142BD2765A91 City of Gardena
Gardena City Council Meeting

AGENDA REPORT SUMMARY
Agenda Item No. 12.D
Section: DEPARTMENTAL

ITEMS - ADMINISTRATIVE

SERVICES
Meeting Date: June 24, 2025

TO: THE HONORABLE MAYOR AND MEMBERS OF THE GARDENA CITY COUNCIL AGENDA TITLE:

Authorize the City Manager to Purchase and Bind Insurance Coverage in the amount of $119,570 for Fiscal Year 2024-2025, and $2,858,830 for Fiscal Year 2025-2026 for a total of $2,978,400
COUNCIL ACTION REQUIRED:

Staff Recommendation: Authorize the City Manager to Purchase and Bind Insurance Coverage in the amount o
f $119,570 for Fiscal Year 2024-2025 and $2,858,830 for Fiscal Year 2025-2026 for a total of
$2,978,400
RECOMMENDATION AND STAFF SUMMARY:

The City of Gardena is self-insured for General Liability and Workers' Compensation Insurance. Through the Alliant Property Insurance Program (APIP), the City purchases Commercial Property Insurance, Cyber, Boiler and Machinery, and Pollution coverage.

Additionally, the City is covered for Commercial Crime Insurance, Deadly Weapons Response Program Insurance, Excess Cyber Insurance coverage, and the required Public Official Bonds.

The City works with Alliant Insurance Services, Inc., who provides broker services, to recommend and procure insurance coverages that balance the City's risk exposure while maintaining reasonable annual insurance premiums. The Liability Insurance, Optional Excess Liability coverage and Workers' Compensation Insurance were obtained through the City's Joint Power's Authority Public Risk Innovation, Solutions, and Management (PRISM). PRISM is recognized as a leader and pioneer in the risk management industry with over 40 years of experience in the industry.

The general liability insurance premium for the City increased to $1,306,000, an increase of $275,709 or 27%. In addition to the required general liability insurance, we are continuing to add optional Excess Liability coverage in the amount of $15 million, for a cost of $114,000, this will make the total general liability coverage $40 million. The Workers' Compensation Insurance premium is increasing to $359,051, which is an increase of 24% from the prior year.

The increase is mainly due to a change in payroll reporting and a general increase in the costs of the workforc
e. The APIP Insurance, which covers Property, Cyber, Boiler and Machinery, and Pollution, increased to $317,270, an increase of only 2%. The City is maintaining Cyber coverage at
a total of $4 millio
n,
with a steady cost of $45,557.84; no increase this year. The Deadly Weapons Response Program coverage will see an increase of 55%, for a premium of $11,839.91, due to adding GTrans buses into the progra
m.

The City is securing Commercial
Crime coverage of $2 million, at a cost of $7,506.40.

The City's annual broker fee increased to
$98,133 a 3% increase per the approved contract agreement with Alliant Insurance Services, Inc.

GTrans obtains its Excess Liability and Vehicle Physical Damage Insurance separately through the California Transit Systems Joint Powers Authority, also known as the California Transit Indemnity Pool (CalTip). This pool is the result of the cooperative efforts of public transit agencies acting collectively to meet their insurance needs. CalTip was created in 1987 and began providing liability coverage and has since added Vehicle Physical Damage Program to meet the needs of its members. GTrans Excess Liability Coverage through CalTip is increasing from $593,305 to $630,058, an increase of about 9%. The GTrans Vehicle Physical Damage Coverage through CalTip increased from $85,427 to $87,359, roughly 2%.

Staff recommends that the City Council authorize the City Manager to purchase and bind insurance coverages in the amount of $119,570 for Fiscal Year 2024-2025 and $2,858,830 for Fiscal Year 2025-2026 at a total cost of $2,978,400 (See attached Exhibit A for Insurance Coverage details).

FINANCIAL IMPACT/COST:

FUND TYPE
Fiscal Year
2024-2025
Fiscal Year
2025-2026
Total
Liability Fund
-
$1,750,417
$1,750,417
Workers' Compensation Fund
-
$273,829
$273,829
GTrans Fund
$119,570
$834,584
$954,154
Total
$119,570
$2,858,830
$2,978,400
ATTACHMENTS:
2025 - 2026 Insurance Coverages.pdf

APPROVED:
___________________________________
Clint Osorio, City Manager
Effective
Date
Expiration
Date Coverage Insurance Company Coverage Deductible/SIR 25/26 Renewal 1 7/1/2025 6/30/2026 Alliant Property Insurance Program (Property,Cyber, B&M, Pollution)
Various Carriers $100,000,000 $25,000
(All Risk) 317,269.62$
2 7/1/2025 6/30/2026 Alliant Crime Insurance Program AIG $2,000,000 $25,000 7,506.40$ 3 7/1/2025 6/30/2026 Alliant Deadly Weapon Response Program Beazley $500,000 $10,000 11,839.91$ 4 7/1/2025 6/30/2026 Optional Excess Cyber Coverage Lloyd's Syndicate 2623 $2M Excess Limit N/A 45,557.84$ 5 7/1/2025 6/30/2026 PRISM General Liability PRISM $25,000,000 xs SIR $750,000 1,306,000.00$ 6 7/1/2025 6/30/2026 Optional Excess Liability PRISM $15M xs $25M N/A 114,000.00$ 7 7/1/2025 6/30/2026 PRISM Workers' Compensation PRISM Statutory Limit $750,000 359,051.00$ 8 7/1/2025 6/30/2026 Public Official Bond - Raymond Beeman Western Surety Company $50,000 N/A 175.00$ 9 7/1/2025 6/30/2026 Public Official Bond - Philomena Semenza Western Surety Company $10,000 N/A 100.00$ 10 7/1/2025 6/30/2026 Public Official Bond - Clint D. Osorio Western Surety Company $100,000 N/A 350.00$ 11 7/1/2025 6/30/2026 Public Official Bond - Guy Hajime Mato Western Surety Company $200,000 N/A 1,000.00$ 12 7/1/2025 6/30/2026 Annual Broker Fee N/A N/A N/A 98,133.00$ 13 5/1/2025 4/30/2026 Gtrans Liability Insurance CalTip $25,000,000 $250,000 630,058.00$ 14 5/1/2025 4/30/2026 Gtrans Vehicle Physical Damage CalTip $20,000,000 $10,000 87,359.00$ TOTAL 2,978,399.77$
City of Gardena - Insurance Coverages 2025 - 2026
City of Gardena
Gardena City Council Meeting

AGENDA REPORT SUMMARY
Agenda Item No. 17.A
Section: DEPARTMENTAL

ITEMS - RECREATION &

HUMAN SERVICES
Meeting Date: June 24, 2025

TO: THE HONORABLE MAYOR AND MEMBERS OF THE GARDENA CITY COUNCIL AGENDA TITLE:

RESOLUTION NO. 6707,
Amending the Naming of City-Owned Facilities
Policy
COUNCIL ACTION REQUIRED:

Staff Recommendation: A
dopt Resolution No. 6707, amending the existing policy for the naming and renaming of City-owned facilities, including parks, recreational facilities, public buildings, and rights-of-way
RECOMMENDATION AND STAFF SUMMARY:

The City’s current policy regarding the naming of public parks was adopted in January 2000.

Over time, community needs and best practices have evolved, warranting a re-evaluation and update of the existing policy framework.

City staff conducted a comprehensive review of the current policy and determined that revisions are necessary to:
• Broaden the scope of the policy to include all City-owned facilities used by the public (e.g., parks, recreational facilities, buildings, and rights-of-way); • Provide a clear, transparent, and standardized process for submitting and evaluating naming and renaming requests;
• Ensure that facility names reflect community values, historical significance, or contributions of individuals and groups to the City of Gardena;
• Promote public engagement in the naming process when appropriate.

This updated policy will serve as a guideline for both staff and the public, helping ensure consistency and equity in decision-making. The updated policy was presented to the Parks and Recreation Commission on March 10, 2025 for review and recommended approval.

FINANCIAL IMPACT/COST:

There is no direct fiscal impact associated with the adoption of this resolution. Any future naming or renaming efforts may require minimal staff time and potential signage costs, which would be assessed on a case-by-case basis.

ATTACHMENTS:
6707 Resolution_Signed.pdf
011112000 CC Mtg Agenda Item 9.B.(1).pdf

APPROVED:
___________________________________
Clint Osorio, City Manager

Gardena City CouncilJune 24, 2025

Gardena City Council
June 24, 2025