Agenda packet — La Puente City Council, January 27, 2026 (part 1 of 2)

CITY OF LA PUENTE

CITY COUNCIL MEETINGS
How to Listen Live to the Meeting
Live Audio/Video: Visit the City’s website at https://lapuente.org/agenda/ and click “View Event” for the current meeting to listen live.

Spanish Translation/Interpretation Services:

The City provides live Spanish translation and interpretation services. To access translation during the meeting, scan the QR Code below or visit https://attend.wordly.ai/join/FWOP-2761.

Spanish interpreting is also available at City Council meetings upon request. Simultaneous interpretation (English-to-Spanish) is provided for listening to the meeting. Consecutive interpretation (Spanish-to-English) is available for anyone speaking during oral communications. Use of City-provided interpreters is optional; you may bring your own interpreter. Please note that due to the variety of dialects and regional differences, the City cannot guarantee interpretation in every dialect and disclaims liability related to such services.

How to Submit Public Comment
All public comments are subject to the same Rules of Decorum as speakers at City Council meetings.

In Person: Public comments may be provided in-person at City Hall, 15900 E. Main Street.

In Writing: Written comments may be emailed to [email protected] at least 2 hours before the meeting start time. Email comments will be distributed to the City Council and become part of the official record, but they are not read aloud during the meeting. Please include “PUBLIC COMMENT” in the subject line to ensure your message is properly received by the Council and City staff.

Availability
Any writings or documents provided to a majority of the City Council/Successor Agency regarding items on this agenda will be made available for public inspection at the City Clerk’s Office at City Hall located at 15900 E. Main Street and at the Reference Desk at the La Puente Library located at 15920 E. Central during normal business hours. In addition, such writings and documents will be posted on the City’s website at www.lapuente.org.

Americans with Disabilities
In accordance with the Americans with Disabilities Act (ADA), individuals requiring special assistance to participate in a City meeting or to access other City services should contact the City Clerk’s Office at (626) 855-1500. Providing notice at least 48 hours before a regular meeting, 24 hours before a special meeting, or prior to the time services are needed will help City staff make reasonable arrangements.

Meeting Times
City Council meetings shall adjourn no later than 10:30 p.m., unless a majority of members approve a motion to extend the meeting to consider remaining agenda items or newly added items in accordance with the Ralph M. Brown Act (Government Code Section 54950, et seq.). (Ordinance No. 95-727).

CITY OF LA PUENTE

REUNIONES DEL CONCEJO MUNICIPAL
Cómo escuchar la reunión en vivo
Audio en vivo: visite el sitio web de la ciudad en https://lapuente.org/agenda/ y haga clic en "Ver evento" para escuchar la reunión en vivo.

Servicios de traducción/interpretación en español:

La Ciudad ofrece traducción e interpretación en vivo en español. Para acceder a la traducción durante la reunión, escanee el código QR a continuación o visite https://attend.wordly.ai/join/FWOP-2761.

La interpretación en español también está disponible en las reuniones del Concejo Municipal bajo solicitud. Hay interpretación simultánea (inglés-español) para escuchar la reunión y interpretación consecutiva (español a ingles) para cualquier persona que durante las comunicaciones orales. El uso de intérpretes proporcionados por la Ciudad es opcional; puede traer su propio intérprete. Tenga en cuenta que, debido a la variedad de dialectos y diferencias regionales, la Ciudad no puede garantizar interpretación en todos los dialectos y se exime de cualquier responsabilidad que supuestamente surja de dichos servicios.

Cómo enviar comentarios públicos
Todos los comentarios públicos están sujetos a las mismas reglas de decoro que los oradores en las reuniones del Concejo Municipal.

En persona: Los comentarios públicos pueden presentarse en persona en el Ayuntamiento, 15900 E. Main Street.

Por escrito: Los comentarios escritos pueden enviarse por correo electrónico a [email protected] al menos 2 horas antes del inicio de la reunión. Los comentarios por correo electrónico se distribuirán al Concejo Municipal y formarán parte del registro oficial, pero no se leerán en voz alta durante la reunión. Por favor, incluya “COMENTARIO PÚBLICO” en la línea se asunto para asegurar que su mensaje sea recibido correctamente por el Concejo y el personal de la Ciudad.

Disponibilidad
Cualquier escrito o documento proporcionado a la mayoría del Concejo Municipal o de la Agencia Sucesora sobre los temas de la agenda estará disponible para revisión pública en la Oficina de la secretaria Municipal, Ayuntamiento, 15900 E. Main Street, y en el Mostrador de Referencia de la Biblioteca de La Puente, 15920 E. Central. Además, dichos escritos y documentos se publicarán en el sitio web de la Ciudad: www.lapuente.org.

Personas con Discapacidades
De acuerdo con la Ley de Estadounidenses con Discapacidades (ADA), cualquier persona que necesite asistencia especial para participar en una reunión de la Ciudad o acceder a otros servicios municipales debe comunicarse con la Oficina de la secretaria Municipal al (626) 855-1500. Proporcionar aviso con al menos 48 horas de anticipación para reuniones regulares, 24 horas para reuniones especiales o antes del momento en que se necesiten los servicios, ayudará al personal de la Ciudad a hacer los arreglos razonables necesarios.

Horario de las Reuniones
Las reuniones del Concejo Municipal normalmente finalizarán a las 10:30 p.m., a menos que la mayoría de los miembros apruebe una moción para extender la reunión y considerar los asuntos restantes de la agenda o los nuevos asuntos añadidos, de acuerdo con la Ley Ralph M. Brown (Código de Gobierno Sección 54950, y siguientes) (Ordenanza No. 95-727).

CC/SA Agenda Page 1 of 3 January 27, 2026
AGENDA

REGULAR MEETING OF THE

LA PUENTE CITY COUNCIL AND SUCCESSOR AGENCY

COUNCIL CHAMBERS
15900 EAST MAIN STREET, LA PUENTE
JANUARY 27, 2026 AT 9:30 AM

CALL TO ORDER

ROLL CALL
COUNCIL/AGENCY MEMBERS: Klinakis, Munoz, Argudo, Mendoza, Quinones

PLEDGE OF ALLEGIANCE

PRESENTATIONS

1. Presentation and Discussion by the Los Angeles County Sheriff’s Department Regarding Flock Safety System

ORAL COMMUNICATIONS
If you wish to address the City Council/Successor Agency on an item other than a public hearing matter, please complete the Request for Oral Presentation form and submit it to the City Clerk no later than prior to the conclusion of the first speaker’s remarks. All speakers are requested to observe the City's Rules of Decorum when addressing the City Council (LPMC section

2.04.120.).

BOARDS/COMMISSION/COMMITTEE REPORTS
Council Members provide a report on any Board/Commission/Committee meetings, listed below, that they have attended.

ORGANIZATION DEL/ALT MONTHLY MEETINGS TIME
California Contract Cities Association Argudo/Quinones 3rd Wednesday 6:30 p.m.

Sanitation District 15 & 21 Klinakis/Munoz 4th Wednesday 1:30 p.m.

League of California Cities L.A. Div. Argudo/Mendoza 1st Thursday 6:30 p.m.

City Selection Committee Klinakis/Mendoza When Necessary 6:30 p.m.

San Gabriel Valley COG Quinones/Argudo 3rd Thursday 4:00 p.m.

California JPIA Munoz/All Council 4th Wednesday 6:30 p.m.

Foothill Transit Governing Board Klinakis/Munoz Last Friday of the Month 7:45 a.m.

San Gabriel Valley Mosquito & Vector Control District Klinakis 2nd Friday 7:00 a.m.

A. MINUTES OF PREVIOUS CITY COUNCIL AND SUCCESSOR AGENCY MEETINGS A.1 READ AND APPROVE THE MINUTES OF THE CITY COUNCIL AND SUCCESSOR AGENCY MEETING OF JANUARY 13, 2026
Staff Recommendation: It is recommended that the City Council and Successor Agency waive the reading and approve the Minutes of the City Council and Successor Agency meeting of January 13, 2026.

B. PUBLIC HEARINGS BEFORE THE CITY COUNCIL
CC/SA Agenda Page 2 of 3 January 27, 2026
C. UNFINISHED BUSINESS OF THE CITY COUNCIL
D. CITY COUNCIL AND SUCCESSOR AGENCY CONSENT CALENDAR
All matters listed under Consent Calendar are considered to be routine in nature and may be enacted by one motion approving the recommendation listed on the Agenda. One or more items may be removed from the Consent Calendar so that said item(s) may be discussed and considered individually by the City Council/Successor Agency, if a motion to remove the item(s) is approved by an affirmative vote of a majority of the members of the City Council/Successor Agency.

D.1 CONSIDERATION OF A RESOLUTION APPROVING WARRANT RESOLUTION NO. 26-5969 Staff Recommendation: It is recommended that the City Council adopt Resolution No. 26-5969 approving Warrant Register No. 1607.

D.2 PRESENTATION OF OCTOBER, NOVEMBER & DECEMBER 2025 REQUISITION SUMMARY

REPORTS
Staff Recommendation: It is recommended that the City Council receive and file this report.

D.3 PRESENTATION OF NOVEMBER & DECEMBER 2025 INVESTMENT REPORTS Staff Recommendation: It is recommended that the City Council receive and file this report.

D.4 PRESENTATION OF THE CITY’S ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 2025
Staff Recommendation: It is recommended that the City Council receive and file the Annual Comprehensive Financial Report, the Independent Accountant’s report on the Appropriations Limit Worksheet, the Independent Auditor’s Report on Internal Control and Compliance, and the Statement on Auditing Standard No. 114 Report for the fiscal year ended June 30, 2025.

D.5 CONSIDERATION OF APPROVAL OF A FIRST AMENDMENT TO THE PROFESSIONAL

SERVICES AGREEMENT FOR BUDGET SOFTWARE SERVICES WITH IGM TECHNOLOGY

CORPORATION
Staff Recommendation: It is recommended that the City Council approve the first amendment to the professional services agreement with IGM Technology and authorize the City Manager to execute the Agreement on behalf of the City.

D.6 CONSIDERATION OF APPROVAL OF A PURCHASE ORDER CONTRACT WITH QUINN CATERPILLAR, INC. FOR THE PURCHASE OF A 2017 CATERPILLAR MODEL 430F2 BACKHOE LOADER IN THE AMOUNT OF $72,331.00
Staff Recommendation: It is recommended that the City Council: (1) approve the purchase order contract with Quinn Caterpillar Inc. for purchase of one 2017 Caterpillar Model 430F2 Backhoe Loader in the amount of $72,331.00; (2) authorize the City Manager to execute, on behalf of the City, all documents necessary to effectuate this action.

D.7 CONSIDERATION OF A RESOLUTION GRANTING A FEE WAIVER FOR LA PUENTE

NATIONAL LITTLE LEAGUE FOR THEIR ANNUAL LA PUENTE NATIONAL LITTLE LEAGUE

OPENING DAY PARADE
CC/SA Agenda Page 3 of 3 January 27, 2026
Staff Recommendation: It is recommended that the City Council adopt Resolution No. 26-5970 approving a fee waiver for La Puente National Little League for their Annual La Puente National Little League Opening Day Parade.

E. NEW BUSINESS TO BE CONSIDERED BY THE CITY COUNCIL
E.1 PRESENTATION OF DECEMBER 2025 BUDGET REPORT
Staff Recommendation: It is recommended that the City Council receive and file this report.

E.2 CONSIDERATION OF APPROVAL OF A RESOLUTION RESCINDING RESOLUTION NO. 18- 5407 AND AMENDING THE CITY MANAGER’S SPENDING AUTHORITY Staff Recommendation: It is recommended that the City Council either:
1) Adopt Resolution No. 26-5971, rescinding Resolution No. 18-5407 and increasing the City Manager’s spending authority from $20,000 to $25,000 or more; or
2) Provide direction to the City Attorney’s Office and City staff to return with draft ordinances amending the procurement policy.

ADHOC COMMITTEE REPORTS
Council Members provide a report on any Ad Hoc Committee meetings that they have attended.

NAME MEMBERS
Code Enforcement Committee Klinakis/Mendoza
La Puente Park Fees, Ordinance and Program Oversight Committee Munoz/Quinones Project LEAD Committee Mendoza/Quinones
LPQT Action Committee Mendoza/Quinones
Rowland, Bassett, and Hacienda La Puente Unified School Districts Liaison Committee Klinakis/Munoz Senior Advisory Committee Klinakis/Munoz
Business Outreach Support Committee Klinakis/Quinones
La Puente Activity Center Design Oversight Committee Klinakis/Mendoza AB 1234 REPORTS

ORAL COMMENTS FROM COUNCIL

ORAL COMMENTS FROM STAFF

ADJOURNMENT
I hereby certify under penalty of perjury, under the laws of the State of California that the foregoing agenda was posted in accordance with the applicable legal requirements.

Dated January 22, 2026.
_________/s/__________
Martha Torres, MPA, CMC, City Clerk

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City of La Puente
Agenda Report
Agenda Item No. D.1
To: Mayor and City Council For meeting of: January 27, 2026 From: Bob Lindsey, City Manager
By: Elizabeth Herrera, Accounting Technician II
Subject: CONSIDERATION OF A RESOLUTION APPROVING WARRANT RESOLUTION NO. 26-5969

BACKGROUND/DISCUSSION
The Warrant Register has been reviewed and submitted for Council approval in accordance with Section 37202 of the Government Code.

FISCAL IMPACT
Funds are available for all expenditures listed in the Warrant Register.

RECOMMENDATION
It is recommended that the City Council adopt Resolution No. 26-5969 approving Warrant Register No. 1607.

ATTACHMENTS
A. Warrant Register Resolution No. 26-5969
B. Warrant Register #1607
RESOLUTION NO. 26-5969 PAGE 1 OF 1 JANUARY 27, 2026
RESOLUTION NO. 26-5969

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

LA PUENTE ALLOWING CERTAIN CLAIMS AND
DEMANDS IN THE AMOUNT $1,517,771.23 (WARRANT
REGISTER 1607)

THE CITY COUNCIL OF THE CITY OF LA PUENTE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:

SECTION 1: That in accordance with Section 37202 of the Government Code, the Director of Administrative Services, or designated representative, hereby certifies, and the City Manager hereby approves the accuracy of the following demands and the availability of funds for payment thereof.

APPROVED EXAMINED
______________________________ __________________________________ Bob Lindsey, City Manager Troy Grunklee, CPA
Director of Administrative Services
SECTION 2: That the following claims and demands numbered 16048 through 16158 ACH(s) numbered 998 through 1004 and Draft numbered 03293 through 03321 have been audited as required by law and the same are hereby allowed in the amounts hereinafter set forth on the attached check registers.

CERTIFIED, PURSUANT TO GOVERNMENT CODE, SECTION 37208, AS CONFORMING TO ADOPTED BUDGET, EXCEPT WARRANT NOS: NONE
_____________________________
Martha Torres, MPA, City Clerk
PASSED, APPROVED AND ADOPTED this 27th day of January 2026, by the following vote:

AYES: COUNCILMEMBERS:

NOES: COUNCILMEMBERS:

ABSENT: COUNCILMEMBERS:

ABSTAIN: COUNCILMEMBERS:
______________________________
Charlie Klinakis, Mayor
ATTEST:
_____________________________________
Martha Torres, MPA, CMC, City Clerk
Attachment A
1/20/2026 12:17:51 PM Page 1 of 15
Check Register Report
City of La Puente By Payment Number
Payment Dates 1/6/2026 - 1/20/2026
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
998 1/9/2026 TANKO TANKO LIGHTING 31,070.80
70500 12/25 ST LIGHT MTCE 285-3330-53111 1,612.00
70509 12/25 SPARE ST LIGHT POLES 285-3330-53111 29,458.80 999 1/16/2026 ENTFMT ENTERPRISE FM TRUST 46,247.27
FBN5528831 01/26 VEH MTCE 555-3150-53812 1,733.94
FBN5528831 01/26 VEH LEASE 555-3150-53912 22,181.17
FBN5528831 01/26 VEH SETTLEMENT 555-47420 22,332.16
1000 1/16/2026 TANKO TANKO LIGHTING 3,659.53
70532 01/26 EMERGENCY RESPONSE-HACIENDA 285-3330-53111 3,659.53 1001 1/16/2026 THYSSE TK ELEVATOR 2,114.83
3009175680 01-03/26 CH ELEVATOR MTCE 100-1150-53811 1,462.23 3009176036 01-03/26 COMM CTR LIFT MTCE 100-4100-53811 652.60 1002 1/16/2026 YUNLLC YUNEX LLC 1,560.50
90006016 12/25 TS MTCE 200-3120-53819 1,560.50
1003 1/20/2026 SEIUCO COPE FUND 10.00
INV0013776 COPE FUND CONTRIBUTION 100-20380 3.53
INV0013776 COPE FUND CONTRIBUTION 260-20380 1.47
INV0013855 COPE FUND CONTRIBUTION 100-20380 3.64
INV0013855 COPE FUND CONTRIBUTION 260-20380 1.36
1004 1/20/2026 SEIU SEIU - LOCAL 721 2,452.52
INV0013775 EMPLOYEE DUES 100-20380 829.08
INV0013775 EMPLOYEE DUES 200-20380 15.31
INV0013775 EMPLOYEE DUES 205-20380 17.68
INV0013775 EMPLOYEE DUES 210-20380 22.41
INV0013775 EMPLOYEE DUES 215-20380 4.13
INV0013775 EMPLOYEE DUES 260-20380 49.74
INV0013775 EMPLOYEE DUES 264-20380 2.86
INV0013775 EMPLOYEE DUES 280-20380 10.03
INV0013775 EMPLOYEE DUES 283-20380 15.09
INV0013775 EMPLOYEE DUES 285-20380 -1.41
INV0013854 EMPLOYEE DUES 100-20380 1,266.07
INV0013854 EMPLOYEE DUES 200-20380 40.37
INV0013854 EMPLOYEE DUES 203-20380 3.34
INV0013854 EMPLOYEE DUES 205-20380 30.26
INV0013854 EMPLOYEE DUES 210-20380 40.81
INV0013854 EMPLOYEE DUES 215-20380 3.96
INV0013854 EMPLOYEE DUES 260-20380 53.41
INV0013854 EMPLOYEE DUES 264-20380 2.93
INV0013854 EMPLOYEE DUES 280-20380 14.58
INV0013854 EMPLOYEE DUES 283-20380 30.24
INV0013854 EMPLOYEE DUES 285-20380 1.63
16048 1/6/2026 LACSHF LA CO SHERIFF'S DEPT 767,323.40
260938TZ 10/25 LAW ENF SVC 100-2100-53110 682,094.78
260938TZ 10/25 LIABILITY INSURANCE 100-2100-53186 85,228.62 16049 1/9/2026 AMABUS AMAZON CAPITAL SERVICES INC 302.58 1DR3-VFL6-HVTL TP LINK OMADA WIFI 550-6100-53018 93.69
1F1K-QC63-CFRT TONER CARTRIDGE 550-6100-53018 158.64
1XVG-73MR-Y7FW FRONT LENS CAP COVER 100-4100-53011 8.37 Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 2 of 15
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
1Y3R-4NVW-49JL PLASTIC CHRISTMAS BAGS 100-4140-53979 41.88 16050 1/9/2026 SOYANN ANNA SOYDOVA 430.00
INV0013820 TIRE REPAIR REIM-SOYDOVA 555-3150-53812 430.00 16051 1/9/2026 B2PRIN B2 PRINT 314.37
0013640 CITY LETTERHEAD 100-1150-53011 265.78
0013653 BUSS CARDS-E. RAMIREZ 100-2130-53011 48.59
16052 1/9/2026 BARRCL BARR AND CLARK, INC. 2,310.00
66200 LBP/ACM INSPECTION-JANOVRO 260-3320-53977 2,310.00 16053 1/9/2026 BLAWAT BLACKWATER SECURITY 34,851.33
1902-2646 12/25 CITY PATROL SVC 100-2110-53111 35,851.33 1902-2646 1/26 SUBLEASE RENT 100-47305 -1,000.00
16054 1/9/2026 BRATOW BRAVO'S TOWING 430.00
002826 TOW CM VEH 555-3150-53812 430.00
16055 1/9/2026 CALASS CALIFORNIA ASSOCIATION OF CODE OFFICERS 200.00 300023186 CACEO MEMBERSHIP-A CASTANEDA 100-2110-53971 100.00 300023187 CACEO MEMBERSHIP-J.CASTANEDA 100-2110-53971 100.00 16056 1/9/2026 CABUST CALIFORNIA BUILDING STANDARDS 120.60 INV0013821 10-12/25 BLDG REV FUND 100-48900 -13.40
INV0013821 10-12/25 BLDG REV FUND 600-47441 134.00
16057 1/9/2026 CBEEQU CELL BUSINESS EQUIPMENT 1,165.23
5037107524 01/12-02/11 FACILITY COPIER 100-1150-53911 1,165.23 16058 1/9/2026 TIMEWA CHARTER COMMUNICATIONS 1,343.00
188632901120725 12/10-01/09 FIBER 1GBPS 100-1150-53715 1,343.00 16059 1/9/2026 TIMEWA CHARTER COMMUNICATIONS 127.26
0029105121425 12/14-01/13 SC CABLE/INTERNET 100-4130-53715 127.26 16060 1/9/2026 OROCIN CINDY OROZCO 140.25
INV0013818 BOWLING MTG REIM-OROZCO 100-2110-53972 140.25 16061 1/9/2026 CINTA CINTAS CORPORATION #693 588.13
4254747331 12/30 SR CENTER MAT RENTAL 100-4130-53012 588.13 16062 1/9/2026 CINTA CINTAS CORPORATION #693 3,148.22
8408023703 FIRST AID RESTOCK-ALL FACILITIES 100-1150-53011 3,148.22 16063 1/9/2026 CJPHYD JUAN JUAREZ 850.00
6556 HYDRO JET SEWER PIPE 285-3330-53822 850.00
16064 1/9/2026 CONCEN CONCENTRA 268.00
89237248 PRE EMPLOYMENT PHYSICAL 280-3300-53406 134.00
89316906 12/25 PRE EMPLOYMENT PHYSICAL 280-3300-53406 134.00 16065 1/9/2026 CED CONSOLIDATED ELECTRICAL DISTRIBUTORS, INC 13.21 3301-1023275 DOG PARK-ELECTRICAL SUPPLIES 283-5618-59300 13.21 16066 1/9/2026 CORLOG CORELOGIC SOLUTIONS, LLC 256.69
30821058 11/25 PROPERTY DATA SVC 100-3320-53111 256.69
16067 1/9/2026 DEPTC DEPT OF CONSERVATION 309.24
INV0013822 10-12/25 SMIP FEES 100-48900 -16.27
INV0013822 10-12/25 SMIP FEES 600-47440 325.51
16068 1/9/2026 DEPTJ DEPT OF JUSTICE-BUREAU 422.00
010605 11/25 FINGERPRINT SVC 100-1135-53406 98.00
010605 11/25 FINGERPRINT SVC 100-4110-53980 96.00
Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 3 of 15
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
010605 11/25 FINGERPRINT SVC 280-3300-53406 228.00
16069 1/9/2026 DSA DIVISION OF THE STATE ARCHITECT 104.80 INV0013819 S1186 OCT-NOV-DEC 2025 100-42160 104.80
16070 1/9/2026 EDISON EDISON CO 41,647.69
INV0013787 11/26-12/28 ELEC-15612 TEMPLE 285-3330-53712 9,588.47 INV0013788 11/26-12/28 ELEC-15614 TEMPLE 285-3330-53712 2,180.32 INV0013789 12/02-01/01 ELEC-CH SOLAR PANELS 100-1150-53712 3,964.11 INV0013790 12/25 ELEC-VARIOUS 200-3120-53713 8,327.87
INV0013791 11/06-12/07 ELEC-VARIOUS 200-3120-53713 546.69 INV0013792 12/25 ELEC-ST LIGHTS LS-2B 285-3330-53712 2,125.07 INV0013793 12/25 ELEC-1744 ST LIGHTS LS-1/OPTION E 285-3330-53712 13,281.25 INV0013794 11/26-12/28 ELEC-14416 AMAR RD 200-3120-53713 84.58 INV0013795 11/05-12/07 ELEC-13798 TEMPLE 200-3120-53713 86.61 INV0013796 11/26-12/28 ELEC-501 GLENDORA SOLAR PANELS 100-4100-53712 1,329.63 INV0013814 12/03-01/04 ELEC-14951 NELSON 200-3120-53713 133.09 16071 1/9/2026 EXPERI EXPERIAN 100.00
6000156393 10/25 CREDIT REPORT SVC 100-3320-53111 50.00 6000173790 11/25 CREDIT REPORT SVC 100-3320-53111 50.00 16072 1/9/2026 EXTOFF EXTENDED OFFICE SOLUTIONS INC 1,218.15 INV0013815 01/26 PHONE SVC 100-1150-53715 1,218.15
16073 1/9/2026 COMFAS FASTENAL COMPANY 583.58
CACIT93131 GRAFFITI REMOVAL SUPPLIES 200-3120-53016 583.58 16074 1/9/2026 VERIC FRONTIER COMMUNICATIONS 1,000.00
INV0013781 12/05-01/04 PHONE-137 HUDSON 100-1150-53715 1,000.00 16075 1/9/2026 GALLS GALLS 180.95
033042355 COED ENF-UNIFORM 100-2110-53015 78.59
033137206 CODE ENF-UNIFORM 100-2110-53015 102.36
16076 1/9/2026 GARDA GARDAWORLD 491.29
10837703 01/25 ARMORED TRANS SVC 100-1130-53111 491.29
16077 1/9/2026 GOLDSUN GOLDEN SUN 998.76
75091 MTCE-UNIFORMS HOODED SWEATSHIRT 100-3330-53015 998.76 16078 1/9/2026 GOODW GOODWILL OF SOUTHERN CALIFORNIA 72,514.23 59064-004 09/25 YWFP WRAPAROUND SVC 280-3300-53111 24,192.88 59064-005 10/25 YWFP WRAPAROUND SVC 280-3300-53111 20,501.51 59064-006 11/25 YWFP-WRAPAROUND SVC 280-3300-53111 27,819.84 16079 1/9/2026 GT1COL GT1 COLLISION REPAIR INC 3,948.87 Q149753599 2026 CHEVY 1500 REPAIR 555-3150-53812 3,948.87 16080 1/9/2026 HACOUT HACIENDA OUTLET 105.81
955745 YWFP MTCE-UNIFORMS 280-3300-53015 105.81
16081 1/9/2026 HDLASS HINDERLITER DE LLAMAS & ASSOCIATES 1,823.80 SIN057048 10-12/25 SALES TAX/AUDIT SVC 100-1130-53111 1,505.72 SIN057370 10-12/25 TRANSACTION TAX 100-1130-53111 318.08 16082 1/9/2026 HMEDEP HOME DEPOT CRC 2,067.92
5040897 YLAC-SUPPLIES 100-4110-53011 427.48
6270740 SILVER ORNAMENTS 100-1150-53976 27.42
6530505 CABLE TIE 100-3330-53012 79.15
8283134 CH-SUPPLIES 100-1150-53012 93.28
900684 GRAFFITI SUPPLIES 200-3120-53016 963.23
9900859 GRAFFITI SUPPLIES 200-3120-53016 477.36
Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 4 of 15
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
16083 1/9/2026 CYBINS INSI CYBER 3,450.00
1042 02/25 CYBER SECURITY SOFTWARE 550-6100-53017 1,150.00 1077 06/25 CYBER SECURITY SOFTWARE 550-6100-53017 1,150.00 1078 07/25 CYBER SECURITY SOFTWARE 550-6100-53017 1,150.00 16084 1/9/2026 JCLBAR JCL TRAFFIC 3,898.11
132310 NO PARKING SIGNAGE 200-3120-53821 168.73
132404 TEMP TRAFFIC SIGNAGE 200-3120-53821 281.78
132456 PARK WARNING SIGNS 100-3330-53011 2,585.70
132457 PARK WARNING SIGNS 100-3330-53011 861.90
16085 1/9/2026 BUCJEF JEFFREY BUCKWELL 145.42
INV0013801 BOOT REIM-BUCKWELL 100-2110-53015 145.42
16086 1/9/2026 JENPARTY JENNIFER'S PARTY SUPPLY 118.97
34135 LINEN RENTAL 100-4130-53012 118.97
16087 1/9/2026 GONSALV JOE A. GONSALVES & SON 2,500.00
164014 01/26 LEGISLATIVE SVC 100-1100-53111 2,500.00
16088 1/9/2026 JOSREY JOSE REYES 368.90
INV0013802 12/16-31 SHOPPING CART-MILEAGE REIM-REYES 555-3150-53014 368.90 16089 1/9/2026 VALJOS JOSEPH VALENCIA 192.05
INV0013803 BOOT REIM-VALENCIA 100-3330-53015 192.05
16090 1/9/2026 KSKFAC KSK FACILITIES 1,495.00
2251 12/25 SR CENTER JANITORIAL SUPPLIES 100-4130-53813 1,495.00 16091 1/9/2026 LACRD LA CO DEPT PUBLIC WORKS 7,470.43
RE-PW-25120803476 11/25 TS MAINT DDG 200-3120-53819 7,470.43 16092 1/9/2026 LACSHF LA CO SHERIFF'S DEPT 13,644.98
261335TZ 09/25 IDT-CRIME SUPPRESSION 100-2100-53113 7,313.18 261336TZ 10/25 IDT-CRIME SUPPRESSION 100-2100-53113 6,331.80 16093 1/9/2026 LPVCWD LA PUENTE VALLEY CO WATER 3,421.81 INV0013804 10/16-12/15 WTR-VALLEY/CENTRAL 200-3120-53714 1,085.57 INV0013806 10/16-12/15 WTR-NELSON 200-3120-53714 420.06 INV0013807 10/16-12/15 WTR-OLD VALLEY BLD 200-3120-53714 297.77 INV0013808 10/16-12/15/WTR-ABBEY/CENTRAL 200-3120-53714 536.13 INV0013809 10/16-12/15 WTR-MAIN ST/LEVERETTE 200-3120-53714 74.66 INV0013810 10/16-12/15 WTR-16630 VALLEY BLVD 200-3120-53714 330.09 INV0013823 10/16-12/15 WTR-501 GLENDORA 285-3330-53714 677.53 16094 1/9/2026 LAQPET LA QUALITY PET CARE 88.00
777621763 12/25 VET SVCS 100-2130-53111 88.00
16095 1/9/2026 MANCIL MANCILLA'S QUALITY PRINTING LLC 66.00 17117 POSTERS-2025 HOLIDAY DINNER 100-1135-53976 33.00
17120 POSTERS-2025 HOLIDAY DINNER 100-1135-53976 33.00
16096 1/9/2026 MARK MARK'S WELDING SERVICES 600.00
126-1 MTCE VEH TRANSPORT 285-3330-53822 600.00
16097 1/9/2026 MERRIT MERRITTS HARDWARE 1,662.97
149449 BRUSH SWEEP 100-3100-53012 41.87
149483 TOOLS & SUPPLIES 100-3100-53012 93.67
149486 MTCE-TOOLS 100-3100-53012 418.40
149487 SOCKET SET 100-3100-53012 108.01
149488 SUPPLIES 100-3330-53012 48.23
149535 ANIMAL CON-SUPPLIES 100-2130-53011 100.45
149542 GRAFFITI SUPPLIES 200-3120-53016 99.51
149552 GRAFFITI SUPPLIES 200-3120-53016 42.06
Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 5 of 15
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
149578 MTCE-SUPPLIES 285-3330-53822 84.16
149579 BOOT WATERPROOF 100-3330-53011 216.01
149589 CLOTHE HANGERS 100-3330-53011 6.59
149619 SUPPLIES 100-3100-53011 17.17
149654 MOUSE GLUE TRAP 100-3330-53012 22.01
149658 GRAFFITI SUPPLIES 200-3120-53016 58.31
149662 CABLE TIES 100-3100-53012 70.21
149696 ST/TRAFFIC SUPPLIES 200-3120-53821 142.07
149735 PADLOCK COMB 2-1/4 100-3325-53011 28.65
149760 DBL SIDED TAPE/SCREWS 100-4130-53011 24.44
149775 CUT KEY/KEY RING 100-3100-53012 5.61
149799 WIREBRUSH/PUSHBROOM/WINDOW CLEANER 555-3150-53812 35.54 16098 1/9/2026 SALIM MONTANA BAIL BONDS 12,500.00
INV0013782 01/26 RENT-137 HUDSON UNIT B 100-1150-53913 12,500.00 16099 1/9/2026 OREILLY O'REILLY AUTO PARTS 194.51
3607-142028 VEH-MTCE SUPPLIES 555-3150-53812 194.51
16100 1/9/2026 PACPOR PACIFIC PORTABLE SERVICES, LLC 2,101.69 25-1222-605 DOG PARK-TEMP FENCING 283-5618-59300 2,101.69 16101 1/9/2026 RADCOM RADIO COMMUNICATION SERVICE 250.00 21368 01/26 REPEATER SITE RENTAL 550-6100-53111 250.00
16102 1/9/2026 RICSNE RICHARD M. SNEDAKER 4,900.00
25-209-001 DOG PARK-SURVEY WORK 283-5618-59210 4,900.00 16103 1/9/2026 SGVWC S.G.V. WATER CO 965.63
INV0013783 11/10-12/15 WTR-715 IRRIG PUENTE 200-3120-53714 455.78 INV0013797 11/10-12/15 WTR-545 IRRIG PUENTE 200-3120-53714 430.30 INV0013798 11/10-12/15 WTR-15900 MAIN 200-3120-53714 79.55 16104 1/9/2026 SERGIO SERGIO'S POOLTABLE SERVICE 1,500.00 INV0013812 POOL TABLE REPAIR 100-4130-53811 1,500.00
16105 1/9/2026 SITEON SITEONE LANDSCAPE SUPPLY, LLC 438.56 160946023-1 MPOINT REDEMPTION 285-3330-53822 -29.92
161217074-1 IRRIGATION SUPPLIES 285-3330-53822 292.88
16126277-1 HERBICIDE 100-3330-53011 175.60
16106 1/9/2026 STIAN STILES ANIMAL REMOVAL, INC. 927.80 5616 06/25 ANIMAL DISPOSAL SVC 100-2130-53111 255.27
5830 08/25 ANIMAL DISPOSAL SVC 100-2130-53111 231.53
5875 09/25 ANIMAL DISPOSAL SVC 100-2130-53111 220.50
5996 10/25 ANIMAL DISPOSAL SVC 100-2130-53111 220.50
16107 1/9/2026 SOSUBW SUBURBAN WATER SYSTEMS 2,211.25
180013853377 11/18-12/16 WTR-6000060246 200-3120-53714 98.04 180013853379 11/18-12/16 WTR-6000060264 200-3120-53714 172.59 180032977533 11/18-12/16 WTR-6000064023 200-3120-53714 712.37 180032980477 11/18-12/16 WTR- 6000076363 200-3120-53714 462.10 180032980528 11/18-12/16 WTR-6000076674 200-3120-53714 71.10 180032982217 11/18-12/16 WTR-6000133466 200-3120-53714 41.66 180042663900 11/01-12/03 WTR-6000101379 200-3120-53714 197.11 180042673875 11/18-12/16 WTR-6000078315 200-3120-53714 242.86 180042673886 11/18-12/16 WTR-6000078449 200-3120-53714 213.42 16108 1/9/2026 SUPALA SUPERIOR ALARM SYSTEMS 11,330.00
2509890 BODY CAM SOFTWARE UPDATES 550-6100-53111 780.00 2509936 GENETEC ADV RENEWAL 25/26 550-6100-53017 6,035.00 2600041 CH ALARM MONITORING 100-1150-53813 540.00
2600041 SR CENTER ALARM MONITOIRNG 100-4130-53813 540.00 Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 6 of 15
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
2600041 SR CENTER FIRE ALARM MONITORING 100-4130-53813 900.00 2600041 YLAC ALARM MONITORING 285-3330-53813 540.00
2600041 COMM CENTER ALARM MONITORING SVC 285-3330-53813 900.00 2600041 COMM CENTER FIRE ALARM 285-3330-53813 900.00
2600441 CITY HALL ALARM REPAIR 100-1150-53813 195.00
16109 1/9/2026 THESAU THE SAUCE CREATIVE SERVICES CORP 508.97 7966 MTCE-JACKETS 100-3330-53015 508.97
16110 1/9/2026 TICTOC TICK-TOCK EXPRESS CAR WASH INC 35.00 1001 12/25 CITY VEH CAR WASH 555-3150-53812 35.00
16111 1/9/2026 TERLAC TLC MATERIALS 930.00
120503 DOG PARK-TRUCKING FOR BASE 283-5618-59300 930.00 16112 1/9/2026 TMOBILE T-MOBILE 669.69
INV0013816 11/21-12/20 PHONE-ADMINISTRATION 100-1150-53715 362.14 INV0013816 11/21-12/20 PHONE-PUBLIC SAFETY 100-2110-53715 529.18 INV0013816 11/21-12/20 PHONE-ANIMAL CONTROL 100-2130-53715 -812.08 INV0013816 11/21-12/20 PHONE-MTCE DEPT 100-3100-53715 178.51 INV0013816 11/21-12/20 PHONE-PROS TEAM 100-3325-53715 246.65 INV0013816 11/21-12/20 PHONE-FOUNDATION 100-4100-53715 165.29 16113 1/9/2026 TUST TURF STAR, INC. 1,364.61
INV127224 TORO MOWER MTCE 555-3150-53812 1,037.46
INV130727 TORO MOWER MTCE 555-3150-53812 327.15
16114 1/9/2026 VERCOM VERDANT COMMERCIAL CAPITAL 2,335.92 905896391 12/25 TORO REELMASTER LESE PYMT 285-3330-53911 1,167.96 905950231 01/26 TORO REELMASER LEASE PYMT 285-3330-53911 1,167.96 16115 1/9/2026 VOLDEF VOLUNTEERS IN DEFENSE OF ANIMALS 16,410.00 INV0013799 10/25 ANIMAL SHELTER SVC 100-2130-53111 7,915.00 INV0013800 11/25 ANIMAL SHELTER SVC 100-2130-53111 8,495.00 16116 1/9/2026 WALIRW WALTERS WHOLESALE ELECTRIC CO. 2,549.65 S129249020.1 MTCE-ELECTRIC SUPPLIES 285-3330-53822 485.43 S129249651.1 ELECTRICAL SUPPLIES 100-3100-53012 109.28
S129326554.1 DOG PARK-ELECTRICAL SUPPLIES 283-5618-59300 879.42 S129394261.1 DOG PARK-ELECTRICAL SUPPLIES 283-5618-59300 64.53 S129397689.1 DOG PARK-SUPPLIES 283-5618-59300 422.46
S129397689.2 ROD DRIVER TOOL 100-3330-53012 104.75
S129432212.1 DOG PARK-SUPPLIES 283-5618-59300 38.21
S129435100.1 DOG PARK-SUPPLIES 283-5618-59300 145.04
S129435100.2 DOG PARK-PVC 283-5618-59300 294.59
S129510526.1 SERVICE CHARGE 100-3330-53011 5.94
16117 1/9/2026 WAXSAN WAXIE SANITARY SUPPLY 3,694.71
83668771 CH SUPPLIES 100-1150-53011 526.84
83668773 LP PARK SUPPLIES 100-3330-53012 514.38
83680976 SR CENTER SUPPLIES 100-4130-53012 858.10
83688274 SR CENTER SUPPLIES 100-4130-53012 643.57
83691244 COMM CTR SUPPLIES 100-4100-53011 558.45
83707988 LP PARK SUPPLIES 100-3330-53012 593.37
16118 1/9/2026 WESCO WEST COAST ARBORISTS INC 26,702.65 237831 12/01-15 PKWY TREE MTCE 200-3120-53815 26,702.65 16119 1/9/2026 TURFWE WEST COAST TURF 997.78
INV209949 LP PARK-TAHOMA SOD 285-3330-53822 997.78
16120 1/9/2026 WHCAP WHITE CAP, L.P. 498.88
50034697919 DOG PARK-LIFT PLATE 283-5618-59300 425.05
Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 7 of 15
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
50034759394 DOG PARK-COIL BOLTS 283-5618-59300 31.93
50034759395 DOG PARK-FREIGHT CHARGES 283-5618-59300 41.90 16121 1/9/2026 WILENG WILLDAN ENGINEERING 37,241.50
00341708 11/25 SEWER MANAGEMENT PLAN UPDATE 500-3210-53111 521.50 003-41805 11/25 ATP6-SAFE ROUTES STUDENTS IMPRO 202-5620-59210 17,058.00 003-41805 11/25 ATP6-SAFE ROUTES STUDENTS IMPRO 203-5620-59210 6,397.00 003-41805 11/25 ATP6-SAFE ROUTES STUDENTS IMPRO 205-5620-59210 4,265.00 006-31433 11/25 LP ENGINEERING & TRAFFIC SURVEY 100-3100-53111 9,000.00 16122 1/9/2026 WILFIN WILLDAN FINANCIAL SERVICES 3,100.00 010-64292 24/25 SB 1029 CDIAC REPORTING 100-1130-53111 950.00 010-64292 24/25 SB 1029 CDIAC REPORTING 100-1130-53111 250.00 010-64292 24/25 SB 1029 CDIAC REPORTING 203-3120-53111 950.00 010-64292 24/25 SB 1029 CDIAC REPORTING 205-3120-53111 950.00 16123 1/9/2026 BANK US BANK 2,650.00
8014397 2019A TRUSTEE FEES 203-3120-53111 1,325.00
8014398 2019B TRUSTEE FEES 205-3120-53111 1,325.00
16124 1/16/2026 AMABUS AMAZON CAPITAL SERVICES INC 1,819.71 1173-LMWN-CCXW ROLLERBLADE OFFICE CHAIR W/WHEELS 100-1100-53976 167.36 11JQ-H4L3-FDDR TOOLS 100-3325-53012 79.32
131F-XMLN-MMMH WIRELESS KEYBOARD 100-4100-53011 32.96
14TV-PHF3-KCR6 PROTECTIVE LAPTOP SHOULDER BAG 100-4110-53011 38.41 16G3-L71M-QJM4 OFFICE SUPPLIES 100-4100-53011 104.36
17C3-CR93-GQY7 USB LAPTOP CHARGERS 550-6100-53018 264.48 17XF-RQKX-6RWN THERMAL PAPER 100-4100-53011 19.64
19P3-GP6L-1DPK CHRISTMAS LIGHTS 100-2110-53011 17.63
1DVT-V9YK-JMFP GAFFER TAPE 100-4110-53980 213.21
1GNK-JH7L-CNQ3 MOUSEPAD REST 100-4110-53011 25.74
1GRJ-VCM4-TH1F DUAL MONITOR STANDS 550-6100-53018 120.58 1GVJ-4PTJ-JGDP MINI FRIDGE 100-3325-53011 187.41
1H1G-L4RP-3QQL SUPPLIES 100-3325-53011 199.18
1HNN-1T1K-DLK9 OFFICE SUPPLIES 100-4100-53012 47.38
1LHT-W9JY-GGXY ROLLERBLADE OFFICE CHAIR W/WHEELS 100-1100-53976 104.44 1NTC-14R7-DM6D OFFICE SUPPLIES 100-4110-53011 30.86
1TCT-HG1X-JGWQ OFFICE SUPPLIES 100-1150-53011 68.49
1X4J-K4TG-WRD9 VGA CABLE CORDS 550-6100-53018 59.68
1YW4-GPGP-MXM1 PROTECTIVE LAPTOP SHOULDER BAG 100-4100-53011 38.58 16125 1/16/2026 ANYMUN ANDY MUNOZ 60.00
INV0013841 ANMAL CONTROL REFUND-MUNOZ 100-42140 60.00
16126 1/16/2026 AUGSPO AUGUSTA SPORTSWEAR BRANDS 1,320.00 029489386 Soccer League 2026 - Uniforms 100-4110-53980 1,320.00 16127 1/16/2026 AURGON AURORA GONZALEZ ZARRAGA 51.00
INV0013827 CITATION REFUND-LP140009046 100-43110 51.00
16128 1/16/2026 B2PRIN B2 PRINT 274.60
0013669 BUSINESS CARDS 100-1100-53976 274.60
16129 1/16/2026 BRILAN BRIGHTVIEW LANDSCAPING SERVICES INC. 11,897.75 9618483 01/26 CH LANDSCAPE SVC 100-1150-53814 2,391.91
9618483 01/26 SR CENTER LANDSCAPE SVC 100-4130-53814 253.50 9618483 01/26 MEDIANS LANDSCAPE SVC 200-3120-53814 6,446.68 9618483 01/26 AMAR RD/SAUDER LANDSCAPE SVC 200-3120-53814 481.00 9618483 01/26 GN NATURE CTR LANDSCAPE SVC 285-3330-53814 2,324.66 16130 1/16/2026 CBE4AM CBE OFFICE SOLUTIONS 1,072.01
INV35404-CBE 11/20-12/19 FACILITY COPIER 100-1150-53911 1,072.01 Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 8 of 15
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
16131 1/16/2026 TIMEWA CHARTER COMMUNICATIONS 1,343.00
188632901010726 01/10-02/09 FIBER/1GBPS 100-1150-53715 1,343.00 16132 1/16/2026 CPRSPT CPRS 165.00
120525 ANNUAL DUES 100-4100-53971 165.00
16133 1/16/2026 EDISON EDISON CO 4,451.75
INV0013828 10/30-12/01 ELEC-SR CENTER 100-4130-53712 1,076.70 INV0013831 10/30-12/01 ELEC-VARIOUS 200-3120-53713 252.39 INV0013832 10/30-12/01 ELEC-PARK SVC 285-3330-53712 440.06 INV0013833 10/30-12/01 ELEC-TRAFFIC CONTROL 200-3120-53713 1,554.18 INV0013834 12/03-01/04 ELEC-15250 TEMPLE 200-3120-53713 51.72 INV0013835 10/30-12/01 ELEC-SR CENTER 100-4130-53712 1,076.70 16134 1/16/2026 EMPAME EMPLOY AMERICA 4,125.00
58L2501-IN 12/25 BUS SHELTER MTCE 210-3130-53816 4,125.00 16135 1/16/2026 EWIIRR EWING IRRIGATION PRODUCTS INC. 224.11 28702342 ANCHOR BASE PLUG 285-3330-53822 224.11
16136 1/16/2026 VERIC FRONTIER COMMUNICATIONS 1,000.00
INV0013842 01/05-02/04 PHONE-137 HUDSON 100-1150-53715 1,000.00 16137 1/16/2026 GT1COL GT1 COLLISION REPAIR INC 3,158.88 LP1926 VEH REPAIR-2026 CHEVY 1500 555-3150-53812 3,158.88 16138 1/16/2026 INHOFA INDUSTRY HOSES & FASTNERS 40.62
71840 TUBE ASSEMBLY 285-3330-53822 40.62
16139 1/16/2026 JCLBAR JCL TRAFFIC 1,458.73
132518 SQ POST/RIVETS/WASHERS 200-3120-53821 1,017.17
132563 TOOLS 200-3120-53012 441.56
16140 1/16/2026 KSKFAC KSK FACILITIES 3,350.00
2248 12/25 YLAC/COMM CTR JANITORIAL SVC 285-3330-53813 3,350.00 16141 1/16/2026 LACRDD LA CO DEPT PUBLIC WORKS 25,743.90 DI260000008 25/26 CIMP IMPLEMENTATION COST #7 284-3100-53111 25,743.90 16142 1/16/2026 LPVCWD LA PUENTE VALLEY CO WATER 1,988.54 INV0013830 10/16-12/15 WTR-COMM CTR 100-4100-53714 994.27 INV0013830 10/16-12/15 WTR-YLAC 100-4110-53714 994.27
16143 1/16/2026 LIEBE LIEBERT CASSIDY WHITMORE 9,506.00 311531 11/25-HR LEGAL SVC 100-1110-53114 9,506.00
16144 1/16/2026 MATMAR MATTHEW MARTINEZ 200.00
INV0013829 DJ SVC-SR CENTER WINTER DANCE 100-4140-53979 200.00 16145 1/16/2026 PIOMAN PIONEER MANUFACTURING COMPANY 762.62 INV-280274 LP PARK-PITCHING SCREEN 100-3330-53012 762.62 16146 1/16/2026 QUAD QUADIENT 3,000.00
INV0013826 CH-POSTAGE 100-1150-53211 3,000.00
16147 1/16/2026 REGION REGIONAL TAP SERVICE CENTER 724.62 6026486 12/25 EZ/FOOTHILL MONTHLY PASS 210-3130-53915 724.62 16148 1/16/2026 SGTRA SOUTHLAND TRANSIT INC 67,682.20
LAPUENTE1225 12/25 DIAL A RIDE 210-3130-53916 12,166.74 LAPUENTE1225 12/25 LP LINK 210-3130-53917 56,799.46
LAPUENTE1225 12/25 DIAL A RIDE FARE 210-46100 -65.50
LAPUENTE1225 12/25 LP LINK FARE 210-46105 -1,218.50
Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 9 of 15
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
16149 1/16/2026 STOTZE STOTZ EQUIPMENT 374.76
069980 TRACTOR MTCE 555-3150-53812 374.76
16150 1/16/2026 SOSUBW SUBURBAN WATER SYSTEMS 310.72
180032994392 12/25 WTR-6000185782 100-1150-53714 98.04
180052464851 12/04-01/05 WTR-6000101379 200-3120-53714 212.68 16151 1/16/2026 TERMI TERMINIX PROCESSING CENTER 434.20 467048321 12/16 CH PEST CONTROL 100-1150-53813 121.00
467048334 12/16 CH PEST CONTROL 100-1150-53813 92.20
467052563 12/16 CC PEST CONTROL 285-3330-53813 80.00
467052564 12/16 COMM CTR PEST CONTROL 285-3330-53813 58.00 467052571 12/16 YLAC PEST CONTROL 285-3330-53813 83.00
16152 1/16/2026 GASCO THE GAS COMPANY 2,743.33
INV0013824 12/05-01/07 GAS-YLAC 100-4110-53711 608.31
INV0013825 12/05-01/07 GAS-COMM CTR 100-4100-53711 86.57 INV0013836 12/05-01/07 GAS-CITY HALL 100-1150-53711 1,891.63 INV0013837 12/05-01/07 GAS-PARK SVC 285-3330-53711 156.82 16153 1/16/2026 TCFNAT THE HUNTINGTON NATIONAL BANK 2,123.25 2407213 01/26 TORO REELMASTER 285-3330-53911 2,123.25
16154 1/16/2026 WESCO WEST COAST ARBORISTS INC 5,875.20 238386 12/16-31 PKWY TREE MTCE 200-3120-53815 5,875.20
16155 1/16/2026 FERWHI WHITTIER FERTILIZER CO 167.79
433687 50/50 SAND/COMPOST MIXING 283-5618-59300 167.79
16156 1/16/2026 WILENG WILLDAN ENGINEERING 35,114.54
002-36888 12/25 BLDG & SAFETY SVC 100-3310-53111 35,114.54 16157 1/20/2026 STADIS CALIFORNIA STATE DISBURSEMENT UNIT 195.00 INV0013845 CHILD SUPPORT 100-20399 195.00
16158 1/20/2026 USBANK U.S BANK PARS ACCT# 6746022400 5,991.91 CM0000128 PARS RETIREMENT 100-20340 -12.11
INV0013785 PARS RETIREMENT 100-20340 27.23
INV0013852 PARS RETIREMENT 100-20340 3,352.84
INV0013852 PARS RETIREMENT 203-20340 63.05
INV0013852 PARS RETIREMENT 205-20340 254.72
INV0013852 PARS RETIREMENT 260-20340 187.39
INV0013852 PARS RETIREMENT 280-20340 2,019.83
INV0013852 PARS RETIREMENT 285-20340 98.96
DFT0003293 1/9/2026 WEXBANK WEX BANK 8,248.71
109515753 12/25 FUEL PURCHASES 555-3150-53014 8,248.71
DFT0003299 1/9/2026 CAPERS CALPERS 200.00
100000018164660 DELINQUENT PAYROLL 100-1135-51211 200.00 DFT0003300 1/9/2026 CAPERS CALPERS 200.00
100000018156928 DELINQUENT PAYROLL 100-1135-51211 200.00 DFT0003301 1/9/2026 CAPERS CALPERS 21,932.28
100000018160758 2026 RBF CONTRIBUTION 100-1135-51211 21,932.28 DFT0003312 1/20/2026 ICMARC MISSION SQUARE RETIREMENT 200.62 INV0013846 EMPLOYEE LOAN REPYMT 100-20399 111.78
INV0013846 EMPLOYEE LOAN REPYMT 200-20399 9.41
INV0013846 EMPLOYEE LOAN REPYMT 210-20399 12.55
INV0013846 EMPLOYEE LOAN REPYMT 215-20399 2.09
INV0013846 EMPLOYEE LOAN REPYMT 260-20399 22.77
INV0013846 EMPLOYEE LOAN REPYMT 264-20399 20.12
Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 10 of 15
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
INV0013846 EMPLOYEE LOAN REPYMT 280-20399 21.90
DFT0003313 1/20/2026 ICMARC MISSION SQUARE RETIREMENT 1,155.00 INV0013847 EMPLOYEE CONTRIBUTIONS 100-20399 781.91
INV0013847 EMPLOYEE CONTRIBUTIONS 200-20399 44.77
INV0013847 EMPLOYEE CONTRIBUTIONS 202-20399 9.76
INV0013847 EMPLOYEE CONTRIBUTIONS 203-20399 26.72
INV0013847 EMPLOYEE CONTRIBUTIONS 205-20399 30.58
INV0013847 EMPLOYEE CONTRIBUTIONS 210-20399 65.63
INV0013847 EMPLOYEE CONTRIBUTIONS 215-20399 13.96
INV0013847 EMPLOYEE CONTRIBUTIONS 260-20399 70.43
INV0013847 EMPLOYEE CONTRIBUTIONS 264-20399 34.61
INV0013847 EMPLOYEE CONTRIBUTIONS 280-20399 76.63
DFT0003314 1/20/2026 NATRS NATIONWIDE RETIREMENT 440.00 INV0013848 Employee Contribution 100-20340 406.00
INV0013848 Employee Contribution 200-20340 6.80
INV0013848 Employee Contribution 203-20340 6.80
INV0013848 Employee Contribution 205-20340 6.80
INV0013848 Employee Contribution 210-20340 6.80
INV0013848 Employee Contribution 215-20340 6.80
DFT0003315 1/20/2026 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 22,918.08 INV0013849 EMPLOYER CONTRIBUTION 100-20360 18,093.05
INV0013849 EMPLOYER CONTRIBUTION 200-20360 788.22
INV0013849 EMPLOYER CONTRIBUTION 202-20360 227.18
INV0013849 EMPLOYER CONTRIBUTION 203-20360 672.33
INV0013849 EMPLOYER CONTRIBUTION 205-20360 633.29
INV0013849 EMPLOYER CONTRIBUTION 210-20360 540.81
INV0013849 EMPLOYER CONTRIBUTION 215-20360 363.90
INV0013849 EMPLOYER CONTRIBUTION 260-20360 525.68
INV0013849 EMPLOYER CONTRIBUTION 264-20360 179.95
INV0013849 EMPLOYER CONTRIBUTION 280-20360 595.69
INV0013849 EMPLOYER CONTRIBUTION 283-20360 123.40
INV0013849 EMPLOYER CONTRIBUTION 285-20360 174.58
DFT0003316 1/20/2026 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 16,303.31 INV0013850 PERS- NEW EMPLY CONTRB 100-20399 13,135.96
INV0013850 PERS- NEW EMPLY CONTRB 200-20399 497.59
INV0013850 PERS- NEW EMPLY CONTRB 202-20399 115.98
INV0013850 PERS- NEW EMPLY CONTRB 203-20399 503.91
INV0013850 PERS- NEW EMPLY CONTRB 205-20399 418.99
INV0013850 PERS- NEW EMPLY CONTRB 210-20399 329.85
INV0013850 PERS- NEW EMPLY CONTRB 215-20399 194.19
INV0013850 PERS- NEW EMPLY CONTRB 260-20399 345.64
INV0013850 PERS- NEW EMPLY CONTRB 264-20399 100.79
INV0013850 PERS- NEW EMPLY CONTRB 280-20399 451.63
INV0013850 PERS- NEW EMPLY CONTRB 283-20399 116.75
INV0013850 PERS- NEW EMPLY CONTRB 285-20399 92.03
DFT0003317 1/20/2026 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 961.60 INV0013851 EMPLOYEE PORTION 100-20360 961.60
DFT0003318 1/20/2026 PERSYS-RETIRE CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM 66.00 INV0013853 SURVIVORS LIFE INSURANCE 100-20350 54.71
INV0013853 SURVIVORS LIFE INSURANCE 200-20350 1.42
INV0013853 SURVIVORS LIFE INSURANCE 202-20350 0.20
INV0013853 SURVIVORS LIFE INSURANCE 203-20350 2.41
INV0013853 SURVIVORS LIFE INSURANCE 205-20350 1.24
INV0013853 SURVIVORS LIFE INSURANCE 210-20350 1.04
INV0013853 SURVIVORS LIFE INSURANCE 215-20350 0.36
Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 11 of 15
Payment Amount
Payment Number
Payment Date
Account Number
Vendor #
Payable Number Description Vendor Name Item Amount
INV0013853 SURVIVORS LIFE INSURANCE 260-20350 1.35
INV0013853 SURVIVORS LIFE INSURANCE 264-20350 0.44
INV0013853 SURVIVORS LIFE INSURANCE 280-20350 2.10
INV0013853 SURVIVORS LIFE INSURANCE 283-20350 0.41
INV0013853 SURVIVORS LIFE INSURANCE 285-20350 0.32
DFT0003319 1/20/2026 EMPLOY EMPLOYMENT DEVELOPMENT DEPT 9,039.98 INV0013856 STATE INCOME TAX 100-20310 7,736.73
INV0013856 STATE INCOME TAX 200-20310 144.43
INV0013856 STATE INCOME TAX 202-20310 70.42
INV0013856 STATE INCOME TAX 203-20310 273.68
INV0013856 STATE INCOME TAX 205-20310 116.08
INV0013856 STATE INCOME TAX 210-20310 129.68
INV0013856 STATE INCOME TAX 215-20310 121.67
INV0013856 STATE INCOME TAX 260-20310 191.66
INV0013856 STATE INCOME TAX 280-20310 188.40
INV0013856 STATE INCOME TAX 285-20310 67.23
DFT0003320 1/20/2026 IRSPR IRS PAYROLL TAX DEPOSIT 22,706.04 INV0013857 FEDERAL WITHHOLDING 100-20300 19,236.60
INV0013857 FEDERAL WITHHOLDING 200-20300 331.53
INV0013857 FEDERAL WITHHOLDING 202-20300 138.80
INV0013857 FEDERAL WITHHOLDING 203-20300 641.07
INV0013857 FEDERAL WITHHOLDING 205-20300 306.05
INV0013857 FEDERAL WITHHOLDING 210-20300 347.03
INV0013857 FEDERAL WITHHOLDING 215-20300 249.00
INV0013857 FEDERAL WITHHOLDING 260-20300 628.33
INV0013857 FEDERAL WITHHOLDING 280-20300 609.65
INV0013857 FEDERAL WITHHOLDING 285-20300 217.98
DFT0003321 1/20/2026 IRSPR IRS PAYROLL TAX DEPOSIT 9,702.62 INV0013858 MEDICARE TAX 100-20300 7,364.58
INV0013858 MEDICARE TAX 200-20300 207.92
INV0013858 MEDICARE TAX 202-20300 43.00
INV0013858 MEDICARE TAX 203-20300 237.70
INV0013858 MEDICARE TAX 205-20300 271.56
INV0013858 MEDICARE TAX 210-20300 147.30
INV0013858 MEDICARE TAX 215-20300 74.00
INV0013858 MEDICARE TAX 260-20300 230.76
INV0013858 MEDICARE TAX 264-20300 39.12
INV0013858 MEDICARE TAX 280-20300 953.54
INV0013858 MEDICARE TAX 283-20300 59.18
INV0013858 MEDICARE TAX 285-20300 73.96
Grand Total: 1,517,771.23
Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 12 of 15
Report Summary
Fund Summary
Fund Payment Amount
100 - GENERAL FUND 1,056,316.51
200 - GAS TAX FUND 72,070.56
202 - RMRA (SB 1) 17,663.34
203 - MEASURE M FUND 11,103.01
205 - MEASURE R FUND 8,627.25
210 - PROP A FUND 74,175.73
215 - PROP C FUND 1,034.06
260 - CDBG PROGRAM FUND 4,619.99
264 - HOUSING-PLHA 380.82
280 - MISCELLANEOUS GRANTS FUND 78,060.02
283 - MEASURE A SAFE PARKS FUND 10,800.89
284 - MEASURE W 25,743.90
285 - LIGHTING & LANDSCAPE MAINTENANCE 80,145.02
500 - SEWER CONSTRUCTION/MAINTENANCE FUND 521.50
550 - EQUIPMENT REPLACEMENT FUND 11,212.07
555 - VEHICLE MAINTENANCE & REPLACEMENT FUND 64,837.05
600 - SPECIAL DEPOSIT FUND 459.51
Grand Total: 1,517,771.23
Account Summary
Account Number Account Name Payment Amount
100-1100-53111 Contract Services - Priva… 2,500.00
100-1100-53976 Special Departmental 546.40
100-1110-53114 Legal Services - General 9,506.00
100-1130-53111 Contract Services - Priva… 3,515.09
100-1135-51211 Retirement 22,332.28
100-1135-53406 Recruitment Expenses 98.00
100-1135-53976 Special Departmental 66.00
100-1150-53011 Operating Supplies 4,009.33
100-1150-53012 Small Tools & Equipment 93.28
100-1150-53211 Postage & Mailing Servic… 3,000.00
100-1150-53711 Utility - Gas 1,891.63
100-1150-53712 Utility - Electricity 3,964.11
100-1150-53714 Utility - Water 98.04
100-1150-53715 Utility - Communications 6,266.29
100-1150-53811 Equipment Maintenance 1,462.23
100-1150-53813 Facility Maintenance 948.20
100-1150-53814 Landscape Maintenance 2,391.91
100-1150-53911 Equipment Lease/Rental 2,237.24
100-1150-53913 Real Estate Lease 12,500.00
100-1150-53976 Special Departmental 27.42
100-20300 FIT Payable 26,601.18
100-20310 SIT Payable 7,736.73
100-20340 PARS 3,773.96
100-20350 Group Insurance 54.71
100-20360 PERS 19,054.65
100-20380 Union Dues 2,102.32
100-20399 Other Payroll Deductions 14,224.65
100-2100-53110 Contract Services - LA Sh… 682,094.78
100-2100-53113 Contract Services - Speci… 13,644.98
100-2100-53186 Liability Trust Fund 85,228.62
100-2110-53011 Operating Supplies 17.63
100-2110-53015 Uniform/Boot Reimburs… 326.37
100-2110-53111 Contract Services - Priva… 35,851.33
100-2110-53715 Utility - Communications 529.18
100-2110-53971 Dues & Memberships 200.00
100-2110-53972 Conferences & Meetings 140.25
Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 13 of 15
Account Summary
Account Number Account Name Payment Amount
100-2130-53011 Operating Supplies 149.04
100-2130-53111 Contract Services - Priva… 17,425.80
100-2130-53715 Utility - Communications -812.08
100-3100-53011 Operating Supplies 17.17
100-3100-53012 Small Tools & Equipment 847.05
100-3100-53111 Contract Services - Priva… 9,000.00
100-3100-53715 Utility - Communications 178.51
100-3310-53111 Contract Services - Priva… 35,114.54
100-3320-53111 Contract Services - Priva… 356.69
100-3325-53011 Operating Supplies 415.24
100-3325-53012 Small Tools & Equipment 79.32
100-3325-53715 Utility - Communcations 246.65
100-3330-53011 Operating Supplies 3,851.74
100-3330-53012 Small Tools & Equipment 2,124.51
100-3330-53015 Uniform/Boot Reimburs… 1,699.78
100-4100-53011 Operating Supplies 762.36
100-4100-53012 Small Tools & Equipment 47.38
100-4100-53711 Utility - Gas 86.57
100-4100-53712 Utility - Electricity 1,329.63
100-4100-53714 Utility - Water 994.27
100-4100-53715 Utility - Communications 165.29
100-4100-53811 Equipment Maintenance 652.60
100-4100-53971 Dues & Memberships 165.00
100-4110-53011 Operating Supplies 522.49
100-4110-53711 Utility - Gas 608.31
100-4110-53714 Utility - Water 994.27
100-4110-53980 Sports Activities 1,629.21
100-4130-53011 Operating Supplies 24.44
100-4130-53012 Small Tools & Equipment 2,208.77
100-4130-53712 Utility - Electricity 2,153.40
100-4130-53715 Utility - Communications 127.26
100-4130-53811 Equipment Maintenance 1,500.00
100-4130-53813 Facility Maintenance 2,935.00
100-4130-53814 Landscape Maintenance 253.50
100-4140-53979 Special Events 241.88
100-42140 Animal License Fees 60.00
100-42160 SB 1186 (CASP Fee) 104.80
100-43110 Parking Citations 51.00
100-47305 Sublease Revenue -1,000.00
100-48900 Miscellaneous -29.67
200-20300 FIT Payable 539.45
200-20310 SIT Payable 144.43
200-20340 PARS 6.80
200-20350 Group Insurance 1.42
200-20360 PERS 788.22
200-20380 Union Dues 55.68
200-20399 Other Payroll Deductions 551.77
200-3120-53012 Small Tools & Equipment 441.56
200-3120-53016 Graffiti Removal Supplies 2,224.05
200-3120-53713 Utility - Hwy Lights 11,037.13
200-3120-53714 Utility - Water 6,133.84
200-3120-53814 Landscape Maintenance 6,927.68
200-3120-53815 Parkway Tree Maintena… 32,577.85
200-3120-53819 Signal Maintenance 9,030.93
200-3120-53821 Traffic Markings/Signs 1,609.75
202-20300 FIT Payable 181.80
202-20310 SIT Payable 70.42
202-20350 Group Insurance 0.20
Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 14 of 15
Account Summary
Account Number Account Name Payment Amount
202-20360 PERS 227.18
202-20399 Other Payroll Deductions 125.74
202-5620-59210 Design Engineering 17,058.00
203-20300 FIT Payable 878.77
203-20310 SIT Payable 273.68
203-20340 PARS 69.85
203-20350 Group Insurance 2.41
203-20360 PERS 672.33
203-20380 Union Dues 3.34
203-20399 Other Payroll Deductions 530.63
203-3120-53111 Contract Services - Priva… 2,275.00
203-5620-59210 Design Engineering 6,397.00
205-20300 FIT Payable 577.61
205-20310 SIT Payable 116.08
205-20340 PARS 261.52
205-20350 Group Insurance 1.24
205-20360 PERS 633.29
205-20380 Union Dues 47.94
205-20399 Other Payroll Deductions 449.57
205-3120-53111 Contract Services - Priva… 2,275.00
205-5620-59210 Design Engineering 4,265.00
210-20300 FIT Payable 494.33
210-20310 SIT Payable 129.68
210-20340 PARS 6.80
210-20350 Group Insurance 1.04
210-20360 PERS 540.81
210-20380 Union Dues 63.22
210-20399 Other Payroll Deductions 408.03
210-3130-53816 Bus Shelter Maintenance 4,125.00
210-3130-53915 Public Transit Subsidy 724.62
210-3130-53916 Dial-A-Ride Services 12,166.74
210-3130-53917 Fixed Route Shuttle 56,799.46
210-46100 Dial-A-Ride Fares -65.50
210-46105 Shuttle Fares -1,218.50
215-20300 FIT Payable 323.00
215-20310 SIT Payable 121.67
215-20340 PARS 6.80
215-20350 Group Insurance 0.36
215-20360 PERS 363.90
215-20380 Union Dues 8.09
215-20399 Other Payroll Deductions 210.24
260-20300 FIT Payable 859.09
260-20310 SIT Payable 191.66
260-20340 PARS 187.39
260-20350 Group Insurance 1.35
260-20360 PERS 525.68
260-20380 Union Dues 105.98
260-20399 Other Payroll Deductions 438.84
260-3320-53977 Grants & Loans - Residen… 2,310.00
264-20300 FIT Payable 39.12
264-20350 Group Insurance 0.44
264-20360 PERS 179.95
264-20380 Union Dues 5.79
264-20399 Other Payroll Deductions 155.52
280-20300 FIT Payable 1,563.19
280-20310 SIT Payable 188.40
280-20340 PARS 2,019.83
280-20350 Group Insurance 2.10
Attachment B
Check Register Report Payment Dates: 1/6/2026 - 1/20/2026 1/20/2026 12:17:51 PM Page 15 of 15
Account Summary
Account Number Account Name Payment Amount
280-20360 PERS 595.69
280-20380 Union Dues 24.61
280-20399 Other Payroll Deductions 550.16
280-3300-53015 Uniform/Boot Reimburs… 105.81
280-3300-53111 Contract Services - Priva… 72,514.23
280-3300-53406 Recuritment Expense 496.00
283-20300 FIT Payable 59.18
283-20350 Group Insurance 0.41
283-20360 PERS 123.40
283-20380 Union Dues 45.33
283-20399 Other Payroll Deductions 116.75
283-5618-59210 Design Engineering 4,900.00
283-5618-59300 Construction Costs 5,555.82
284-3100-53111 Contract Services - Priva… 25,743.90
285-20300 FIT Payable 291.94
285-20310 SIT Payable 67.23
285-20340 PARS 98.96
285-20350 Group Insurance 0.32
285-20360 PERS 174.58
285-20380 Union Dues 0.22
285-20399 Other Payroll Deductions 92.03
285-3330-53111 Contract Services - Priva… 34,730.33
285-3330-53711 Utility - Gas 156.82
285-3330-53712 Utility - Electricity 27,615.17
285-3330-53714 Utility - Water 677.53
285-3330-53813 Facility Maintenance 5,911.00
285-3330-53814 Landscape Maintenance 2,324.66
285-3330-53822 Park Maintenance & Re… 3,545.06
285-3330-53911 Equipment Lease/Rental 4,459.17
500-3210-53111 Contract Services - Priva… 521.50
550-6100-53017 Software & Licensing 9,485.00
550-6100-53018 Computer Hardware & S… 697.07
550-6100-53111 Contract Services - Priva… 1,030.00
555-3150-53014 Fuel 8,617.61
555-3150-53812 Vehicle Maintenance 11,706.11
555-3150-53912 Vehicle Lease 22,181.17
555-47420 Sale of Real & Personal P… 22,332.16
600-47440 Strong Motion Inst. Fee 325.51
600-47441 SB1473 (Green Fee) 134.00
Grand Total: 1,517,771.23
Project Account Summary
Project Account Key Payment Amount
**None** 1,438,328.97
30126E 2,310.00
30226E 356.69
70626E 3,659.53
98726E 496.00
98826E 72,514.23
99026E 105.81
Grand Total: 1,517,771.23
Attachment B
City of La Puente
Agenda Report
Agenda Item No. D.2
To: Mayor and City Council For meeting of: January 27, 2026 From: Bob Lindsey, City Manager
By: Troy Grunklee, CPA, Director of Administrative Services Candice Yu, Principal Accountant
Subject: PRESENTATION OF OCTOBER, NOVEMBER & DECEMBER 2025 REQUISITION

SUMMARY REPORTS

BACKGROUND/DISCUSSION
On April 24, 2018, the City Council adopted several ordinances and accompanying resolutions amending the City’s purchasing procedures to streamline and make the procurement process more efficient. One of the amendments to the purchasing procedures was a provision setting a $5,000 spending limit for Department Heads and a separate provision increasing the City Manager’s spending limit to $20,000 for professional services, supplies and equipment. In order to document purchases approved by the City Manager and/or Department Heads the City Council directed that a monthly report be prepared and filed with the City Council.

This action is to receive and file the requisition summary report covering the three-month period of October, November, and December 2025.

City staff initiated nineteen (19) requisitions during the period totaling $320,675.46.

FISCAL IMPACT
None.

RECOMMENDATION
It is recommended that the City Council receive and file this report.

ATTACHMENTS
A. Oct, Nov, Dec 2025 Requisition Summary Reports
1/15/2026 12:38:33 PM Page 1 of 3
Requisition Summary Report Issued Date Range 10/01/2025 - 12/31/2025 Description Requested by Trade
Total
Dia De Los Muertos - Balloons 1 0 0 0 0 0 2,609.55 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001171 Dia De Los Muertos - Balloons Approved ADRIANA DOMINGUEZ 10/24/2025 0 2,609.55 $ ITSGAS - IT'S A GAS, INC Director of Comm. Services
Total
BAND ENTERTAINMENT FOR DIA DE LOS MUERTOS 2025 1 0 0 0 0 0 1,800.00 $ Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001170 BAND ENTERTAINMENT FOR DIA DE LOS MUERTOS 2025 Approved ANGEL MORALES 10/22/2025 0 1,800.00 $ ALATOR - ALAN G TORRES Director of Admin. Services
Total
BAND ENTERTAINMENT FOR DIA DE LOS MUERTOS 2025 1 0 0 0 0 0 1,500.00 $ Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001169 BAND ENTERTAINMENT FOR DIA DE LOS MUERTOS 2025 Approved ANGEL MORALES 10/22/2025 0 1,500.00 $ SUAVE - RENE BURGUAN Director of Admin. Services
Total
MTCE YARD STORAGE 1 0 0 269.5 350 0 3,314.50 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001168 MTCE YARD STORAGE Approved ELIZABETH HERRERA 10/16/2025 0 3,314.50 $ CONEST - CONEXWEST Director of Admin. Services
Total
CivicPlus - Registration Fee 1 0 0 0 0 0 6,180.00 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001167 CivicPlus - Registration Fee Approved ADRIANA DOMINGUEZ 10/10/2025 0 6,180.00 $ PLUCIV - CIVICPLUS City Manager
Total
July 3rd - Ambulance Services 1 0 0 0 0 0 6,000.00 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001166 July 3rd - Ambulance Services Approved ADRIANA DOMINGUEZ 10/10/2025 0 6,000.00 $ MOBFAL - FALCK MOBILE HEALTH CORP City Manager
Total
Trun or treat - Decorations 1 0 0 0 0 0 1,022.37 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001165 Trun or treat - Decorations Approved ADRIANA DOMINGUEZ 10/10/2025 0 1,022.37 $ ITSGAS - IT'S A GAS, INC Director of Comm. Services
Requisition Summary Report
City of La Puente Requisition Detail
Issued Date Range 10/01/2025 - 12/31/2025
Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Total Attachment A
REQ001185 DOG PARK PLAY GROUND Approved NORMA RAMIREZ 11/25/2025 0 206,020.49 $ 1/15/2026 12:38:33 PM Page 2 of 3
Requisition Summary Report Issued Date Range 10/01/2025 - 12/31/2025 Description Requested by Trade
Requisition Number Vendor Status Approved by Issue Date Discount Total Total
MAINTENACE TOOL - TRENCHER 1 0 0 871.25 0 0 9,371.25 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001184 MAINTENACE TOOL - TRENCHER Approved NORMA RAMIREZ 11/20/2025 0 9,371.25 $ UNREN - UNITED RENTALS City Manager
Total
Tree Lighting - jumpers 1 0 0 0 0 0 3,102.00 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001182 Tree Lighting - jumpers Approved ADRIANA DOMINGUEZ 11/19/2025 0 3,102.00 $ CINJUM - CINDYS JUMPER, LLC Director of Comm. Services
Total
ORANGE WATER WALL 1 0 0 411.03 0 0 4,421.03 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001178 ORANGE WATER WALL Approved NORMA RAMIREZ 11/14/2025 0 4,421.03 $ JCLBAR - JCL TRAFFIC Director of Dev. Services
Total
Holiday Decoration - City Hall 1 0 0 0 0 0 31,000.00 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001177 Holiday Decoration - City Hall Approved ADRIANA DOMINGUEZ 11/10/2025 0 31,000.00 $ CELHOL - CLIPA, LLC City Council
Total
TWO-WAY RADIOS (10) 1 0 0 159.9 11.86 0 1,731.76 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001176 TWO-WAY RADIOS (10) Approved ELIZABETH HERRERA 11/5/2025 0 1,731.76 $ RUGRAD - RUGGED RADIOS Director of Admin. Services
HOLIDAY BANNERS 2025 (30X84) 2 34 106.5 0 0 0 3,621.00 $ DESIGN AND DELIVERY 3 0 0 0 0 0 175.00 $
Total
HOLIDAY BANNERS 2025 - (30X72)1 26 100.5 0 0 0 2,613.00 $ Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001174 HOLIDAY BANNERS 2025 Approved MARISSA CARRILLO 11/5/2025 0 6,409.00 $ PHILM - PHILLIP MARTINEZ City Manager
Requisition Number Vendor Status Approved by Issue Date Discount Total Attachment A
Requisition Count: -19 Total Discount: 0 Total: 320,675.46 $ 1/15/2026 12:38:33 PM Page 3 of 3
Total
70th celebration - Shirts 1 0 0 0 0 0 6,139.31 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001190 70th celebration - Shirts Approved ADRIANA DOMINGUEZ 12/15/2025 0 6,139.31 $ THESAU - THE SAUCE CREATIVE SERVICES CORP City Manager
Total
July 3rd - Firework Show 1 0 0 0 0 0 19,640.00 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001189 July 3rd - Firework Show Approved ADRIANA DOMINGUEZ 12/15/2025 0 19,640.00 $ PYROSP - PYRO SPECTACULARS, INC. City Manager
Total
GENETEC ADV RENEWAL 25/26 1 0 0 0 0 0 6,035.00 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001188 GENETEC ADV RENEWAL 25/26 Approved ELIZABETH HERRERA 12/11/2025 0 6,035.00 $ SUPALA - SUPERIOR ALARM SYSTEMS City Manager
Total
RDH16-TWO WAY HANDHELD RADIO1 0 0 172.2 0 0 1,852.20 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001187 RDH16-TWO WAY HANDHELD RADIOS (10) Approved ELIZABETH HERRERA 12/2/2025 0 1,852.20 $ RUGRAD - RUGGED RADIOS Director of Admin. Services
Total
Basketball Uniforms 1 0 0 0 0 0 2,527.00 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount REQ001186 Basketball Uniforms Approved ADRIANA DOMINGUEZ 12/1/2025 0 2,527.00 $ AUGSPO - AUGUSTA SPORTSWEAR BRANDS Director of Comm. Services Total
DOG PARK NEW PLAY UNIT 1 0 0 10128.84 0 0 206,020.49 $
Items
Description Sequence Part Number Units Price Tax Shipping Discount INNO - INNOVATIVE PLAYGROUDS COMPANY, INC. City Council Attachment A
City of La Puente
Agenda Report
Agenda Item No. D.3
To: Mayor and City Council For meeting of: January 27, 2026 From: Bob Lindsey, City Manager
By: Troy Grunklee, CPA, Director of Administrative Services Candice Yu, Principal Accountant
Subject: PRESENTATION OF NOVEMBER & DECEMBER 2025 INVESTMENT REPORTS

BACKGROUND/DISCUSSION
This report presents the City’s investment portfolio for the periods of November and December 2025. The attachment provides details of the City’s portfolio. It has been prepared to comply with regulations contained in California Government Code Section 53600 and the Statement of Investment Policy approved by the City Council on June 10, 2025.

The investment objectives of the City of La Puente are first, to provide safety of principal to ensure the preservation of capital in the overall portfolio, second, to provide sufficient liquidity to meet all operating requirements, and third, to earn a commensurate rate of return consistent with the constraints imposed by the safety and liquidity objectives.

The City follows the practice of pooling cash and investments for all funds under its direct control. Interest earned on pooled cash and investments is allocated to the various funds based on the respective fund’s average quarterly cash balance. It is common for governments to pool the cash and investments of various funds to improve investment performance. By pooling funds, cities are able to benefit from economies of scale, diversification, liquidity and ease of administration.

The Investment Report for November and December has been provided as an attachment for your review.

Investment activity for the period is summarized as follows:

DATE TRANSACTION ASSET TYPE RATE AMOUNT
11/14/2025 Sale/Redemption Texas Exchange Bank CD 0.85% $249,000.00 11/17/2025 Sale/Redemption US Government Obligation - Federal Home Loan Mortgage Corp (FHLMC)

4.88% $250,000.00
11/26/2025 Purchase Canandaigua National Bank CD 4.00% $249,000.00 12/01/2025 Sale/Redemption US Treasury Note 0.375% $250,000.00 12/09/2025 Purchase US Government Obligation-Federal
National Mortgage Association
(FNMA)

3.90% $250,000.00
Agenda Report – November & December 2025 Investment Reports For City Council And Successor Agency Meeting of January 27, 2026

Page 2 of 2 ends

12/23/2025 Purchase US Government Obligation-Federal
Home Loan Banks (FHLB)

4.00% $250,000.00
12/31/2025 Sale/Redemption US Treasury Note 0.375% $250,000.00 12/31/2025 Purchase US Government Obligation-Federal
National Mortgage Association
(FNMA)

3.99% $250,000.00

FISCAL IMPACT
Idle cash invested in certificates of deposit, government securities, and corporate bonds typically return higher yields than LAIF (Local Agency Investment Fund). This maximizes returns without assuming substantial additional risk.

RECOMMENDATION
It is recommended that the City Council receive and file this report.

ATTACHMENTS
A. November 2025 Investment Report
B. December 2025 Investment Report

CITY OF LA PUENTE
Cash and Investment Report
November 30, 2025
Source of
Purchase Maturity Interest Face Book Market Market
Investment Type Issuer Date Date Rate Value Value Value Valuation Local Agency Investment Fund State of California 4.212% $ 5,237,291 $ 5,237,291 $ 5,243,567 LAIF Government Obligations
U.S. Agency Security FFCB 02/24/21 03/03/26 0.790% 250,000 250,000 248,043 Stifel U.S. Agency Security FFCB 08/03/21 08/10/26 0.710% 250,000 250,000 244,738 Stifel U.S. Agency Security FFCB 08/30/21 09/01/26 0.870% 500,000 499,915 489,115 Stifel U.S. Agency Security FFCB 09/23/21 09/28/26 0.940% 250,000 241,023 244,433 Stifel U.S. Agency Security FFCB 09/02/21 09/08/26 0.870% 250,000 250,000 244,598 Stifel U.S. Agency Security FFCB 10/07/21 10/07/26 1.000% 250,000 249,632 244,455 Stifel U.S. Agency Security FFCB 10/28/21 11/03/26 1.330% 250,000 250,000 244,513 Stifel U.S. Agency Security FFCB 11/10/21 11/16/26 1.270% 250,000 250,000 244,118 Stifel U.S. Agency Security FFCB 11/24/21 11/30/26 1.460% 500,000 500,000 488,760 Stifel U.S. Agency Security FHLB 03/08/21 03/30/26 0.980% 250,000 250,000 247,710 Stifel U.S. Agency Security FHLB 03/11/21 03/25/26 0.875% 250,000 251,000 247,688 Stifel U.S. Agency Security FHLB 02/09/21 02/09/26 0.300% 250,000 250,000 248,490 Stifel U.S. Agency Security FHLB 08/10/21 02/18/26 0.600% 250,000 248,250 248,220 Stifel U.S. Agency Security FHLB 02/18/21 02/18/26 0.600% 250,000 250,000 248,220 Multi-Bank U.S. Agency Security FHLB 02/26/21 02/26/26 0.580% 250,000 250,000 248,033 Multi-Bank U.S. Agency Security FHLB 01/26/21 01/26/26 0.560% 250,000 250,000 248,705 Multi-Bank U.S. Agency Security FHLB 02/24/21 02/24/26 0.625% 250,000 249,500 248,103 Stifel U.S. Agency Security FHLB 02/25/21 02/25/26 0.660% 250,000 250,000 248,100 Stifel U.S. Agency Security FHLB 02/12/21 02/12/26 0.520% 250,000 249,750 248,275 Stifel U.S. Agency Security FHLB 05/18/21 05/26/26 1.030% 250,000 250,000 246,643 Multi-Bank U.S. Agency Security FHLB 09/30/21 10/13/26 1.100% 250,000 249,823 244,475 Stifel U.S. Agency Security FHLB 04/22/21 02/24/26 0.750% 250,000 249,375 248,048 Stifel U.S. Agency Security FHLB 02/25/22 02/25/27 2.000% 250,000 250,000 244,913 Stifel U.S. Agency Security FHLB 04/28/22 05/10/27 3.100% 250,000 249,750 248,118 Stifel U.S. Agency Security FHLB 10/31/25 10/21/30 3.650% 250,000 250,178 248,630 Stifel U.S. Agency Security FHLMC 09/15/22 08/01/27 3.740% 250,000 248,540 249,085 Stifel U.S. Agency Security FHLMC 04/09/25 01/01/30 4.000% 250,000 246,924 250,072 Stifel U.S. Agency Security FHLMC 05/27/25 10/01/29 4.200% 250,000 248,102 250,147 Stifel U.S. Agency Security FHLMC 06/09/25 02/01/30 4.000% 500,000 496,382 500,274 Stifel U.S. Agency Security FHLMC 06/30/25 04/01/30 4.120% 500,000 501,191 502,334 Stifel U.S. Agency Security FNMA 07/21/22 09/01/26 2.150% 250,000 238,655 246,050 Stifel U.S. Agency Security FNMA 02/03/25 01/01/30 4.560% 750,000 745,319 761,662 Stifel U.S. Agency Security FNMA 04/21/25 03/01/29 2.110% 275,000 255,106 261,192 Stifel U.S. Agency Security FNMA 05/28/25 02/01/29 2.990% 525,000 503,537 510,736 Stifel U.S. Agency Security FNMA 07/22/25 07/01/30 4.240% 500,000 499,987 504,090 Stifel U.S. Agency Security FNMA 07/31/25 09/01/29 2.710% 500,000 473,942 477,745 Stifel U.S. Agency Security FNMA 08/19/25 10/01/29 4.060% 500,000 501,015 500,452 Stifel U.S. Agency Security FNMA 08/19/25 11/01/28 3.760% 500,000 499,846 498,813 Stifel U.S. Agency Security FNMA 08/28/25 08/01/30 4.140% 455,000 456,413 457,557 Stifel U.S. Agency Security FNMA 09/03/25 08/01/30 4.005% 250,000 249,978 250,377 Stifel U.S. Agency Security FNMA 09/30/25 11/01/29 2.670% 250,000 240,381 238,932 Stifel U.S. Agency Security FNMA 10/22/25 05/01/30 3.440% 500,000 466,793 463,523 Stifel U.S. Agency Security Treasury 05/12/21 12/31/25 0.375% 250,000 245,850 249,300 Stifel U.S. Agency Security Treasury 06/15/21 11/30/25 0.375% 250,000 247,659 250,000 Stifel U.S. Agency Security Treasury 06/24/21 02/28/26 0.500% 250,000 246,775 247,938 Stifel U.S. Agency Security Treasury 09/29/21 06/30/26 0.875% 250,000 249,550 245,905 Stifel U.S. Agency Security Treasury 04/29/21 04/30/26 0.750% 500,000 497,800 493,745 Stifel Total Government Securities 15,255,000 15,097,938 15,065,063 Municipal Bonds*** various - - -
Negotiable Certificates of Deposit *** various 9,169,000 9,169,000 9,097,543 Corporate Bonds*** various
Total Investments $ 29,661,291 $ 29,504,229 $ 29,406,173 Deposits in Bank 450,879 *
Miscellaneous Cash 2,200 **
Total Cash and Deposits 453,079
Total Investments, Cash and Deposits $ 29,957,307
* Deposits represent the equity in the checking & payroll accounts. ** Miscellaneous cash represents a total of all petty cash accounts. *** Detailed list of Negotiable Certificates of Deposit/Corporate Bonds attached Candice Yu
Principal Accountant
I certify that this investment portfolio is in conformity with the Investment Policy of the City of La Puente as stated in Resolution No. 25-5941 dated June 10, 2025. The Investment Program provides sufficient liquidity to meet the next six months' estimated expenditures.

Troy O. Grunklee, CPA
Dir. Of Aministrative Services
Attachment A
CITY OF LA PUENTE Cash and Investment Report November 30, 2025 Negotiable Certificates of Deposit
Purchase Maturity Interest Face Book Market Source of
Issuer Date Date Rate Value Value Value Valuation
Greenstate Credit Union 3/30/21 4/16/26 0.95% 249,000 249,000 246,268 Stifel State Bank of India, NY 5/5/21 5/19/26 1.00% 248,000 248,000 244,726 Stifel UBS Bank 6/15/21 6/23/26 0.75% 248,000 248,000 243,747 Stifel Parsons FCU 6/24/21 6/30/26 0.50% 249,000 249,000 245,083 Stifel Sallie Mae Bank 6/30/21 7/8/26 1.00% 247,000 247,000 242,813 Stifel Goldman Sachs Bank 7/20/21 7/28/26 1.00% 248,000 248,000 243,305 Stifel Ally Bank 7/22/22 7/28/26 3.25% 246,000 246,000 245,016 Stifel Toyota Bank 7/21/21 7/29/26 0.95% 248,000 248,000 243,323 Stifel Synchrony Bank 8/24/21 8/27/26 0.90% 248,000 248,000 242,921 Stifel Pentagon FCU 8/17/21 9/1/26 0.85% 249,000 249,000 243,524 Stifel Healthcare System FCU 9/7/22 9/21/26 3.60% 249,000 249,000 248,629 Stifel Medallion Bank 9/14/21 9/30/26 0.90% 249,000 249,000 243,079 Stifel Live Oak Bank 10/4/21 10/19/26 0.90% 249,000 249,000 242,755 Stifel USF Federal Credit Union 10/14/21 10/28/26 0.90% 249,000 249,000 242,601 Stifel Capital One Bank NA 11/8/21 11/17/26 1.10% 248,000 248,000 241,760 Stifel Alabama Credit Union 6/7/23 12/21/26 4.85% 248,000 248,000 250,847 Stifel Connexus Credit Union 12/20/21 12/23/26 1.15% 249,000 249,000 242,509 Stifel Bank Hapoalim 12/8/21 12/26/26 1.35% 248,000 248,000 241,902 Stifel Nelnet Bank 1/24/22 2/2/27 1.45% 248,000 248,000 241,428 Stifel Amerant Bank 2/14/22 2/16/27 1.60% 248,000 248,000 241,701 Stifel Beal Bank 3/1/22 3/3/27 2.05% 248,000 248,000 242,859 Stifel American First Credit Union 4/24/23 4/27/27 4.40% 249,000 249,000 251,268 Stifel Cy Fair FCU 5/4/23 5/19/27 4.35% 248,000 248,000 250,182 Stifel Jeep Country FCU 6/21/23 6/29/27 4.70% 248,000 248,000 251,658 Stifel Capital One Bank USA 7/14/22 7/20/27 3.40% 245,000 245,000 243,616 Stifel Discover Bank 7/14/22 7/20/27 3.35% 245,000 245,000 243,425 Stifel American Express National Bank 7/22/22 7/27/27 3.45% 245,000 245,000 243,777 Stifel St. Vincent Medical Center Credit Union 8/3/22 8/12/27 3.50% 249,000 249,000 248,059 Stifel Belmont Bank 8/5/22 8/24/27 3.15% 249,000 249,000 246,580 Stifel Cobalt Credit Union 9/1/22 9/15/27 3.60% 249,000 249,000 248,455 Stifel Affinity Bank 3/13/23 3/17/28 4.90% 248,000 248,000 254,431 Stifel Morgan Stanley Private Bank 3/17/23 3/23/28 4.90% 244,000 244,000 250,278 Stifel Morgan Stanley Private Bank 6/30/25 7/1/30 4.30% 245,000 245,000 249,680 Stifel Civic Federal Credit Union 7/23/25 10/23/28 4.10% 249,000 249,000 251,537 Stifel BMW Bank of North America 8/15/25 8/15/28 3.85% 245,000 245,000 245,657 Stifel Workers Credit Union 8/18/25 8/20/29 3.90% 249,000 249,000 249,926 Stifel Canandaigua National Bank 11/26/25 11/26/30 4.00% 249,000 249,000 248,218 Stifel Total for Negotiable Certificates of Deposit $ 9,169,000 # 9,169,000 $ $ 9,097,543

CITY OF LA PUENTE
Cash and Investment Report Charts November 30, 2025
Local Agency Investment Fund,
$5,237,291
Federal Agency Securities,
$15,097,938
Negotiable Certificates of
Deposit, $9,169,000
Available Cash, $453,079
Investment Types
0%
10%
20%
30%
40%
50%
60%
< 12 MOS. 13-24 MOS. 25-36 MOS. 37-48 MOS.
51%
21%
6% 8%

PERCENTAGE TO TOTAL

DURATION OF MATURITY
Maturity Distribution

CITY OF LA PUENTE
Cash and Investment Report
December 31, 2025
Source of
Purchase Maturity Interest Face Book Market Market
Investment Type Issuer Date Date Rate Value Value Value Valuation Local Agency Investment Fund State of California 4.212% $ 5,624,291 $ 5,624,291 $ 5,631,030 LAIF Government Obligations
U.S. Agency Security FFCB 02/24/21 03/03/26 0.790% 250,000 250,000 248,775 Stifel U.S. Agency Security FFCB 08/03/21 08/10/26 0.710% 250,000 250,000 245,573 Stifel U.S. Agency Security FFCB 08/30/21 09/01/26 0.870% 500,000 499,915 491,080 Stifel U.S. Agency Security FFCB 09/23/21 09/28/26 0.940% 250,000 245,213 245,213 Stifel U.S. Agency Security FFCB 09/02/21 09/08/26 0.870% 250,000 250,000 245,388 Stifel U.S. Agency Security FFCB 10/07/21 10/07/26 1.000% 250,000 249,632 245,270 Stifel U.S. Agency Security FFCB 10/28/21 11/03/26 1.330% 250,000 250,000 245,225 Stifel U.S. Agency Security FFCB 11/10/21 11/16/26 1.270% 250,000 250,000 244,860 Stifel U.S. Agency Security FFCB 11/24/21 11/30/26 1.460% 500,000 500,000 490,685 Stifel U.S. Agency Security FHLB 03/08/21 03/30/26 0.980% 250,000 250,000 248,433 Stifel U.S. Agency Security FHLB 03/11/21 03/25/26 0.875% 250,000 251,000 248,440 Stifel U.S. Agency Security FHLB 02/09/21 02/09/26 0.300% 250,000 250,000 249,228 Stifel U.S. Agency Security FHLB 08/10/21 02/18/26 0.600% 250,000 248,250 248,998 Stifel U.S. Agency Security FHLB 02/18/21 02/18/26 0.600% 250,000 250,000 248,998 Multi-Bank U.S. Agency Security FHLB 02/26/21 02/26/26 0.580% 250,000 250,000 248,845 Multi-Bank U.S. Agency Security FHLB 01/26/21 01/26/26 0.560% 250,000 250,000 249,493 Multi-Bank U.S. Agency Security FHLB 02/24/21 02/24/26 0.625% 250,000 249,500 248,878 Stifel U.S. Agency Security FHLB 02/25/21 02/25/26 0.660% 250,000 250,000 248,895 Stifel U.S. Agency Security FHLB 02/12/21 02/12/26 0.520% 250,000 249,750 249,058 Stifel U.S. Agency Security FHLB 05/18/21 05/26/26 1.030% 250,000 250,000 247,420 Multi-Bank U.S. Agency Security FHLB 09/30/21 10/13/26 1.100% 250,000 249,823 245,215 Stifel U.S. Agency Security FHLB 04/22/21 02/24/26 0.750% 250,000 249,375 248,933 Stifel U.S. Agency Security FHLB 02/25/22 02/25/27 2.000% 250,000 250,000 245,915 Stifel U.S. Agency Security FHLB 04/28/22 05/10/27 3.100% 250,000 249,750 248,478 Stifel U.S. Agency Security FHLB 10/31/25 10/21/30 3.650% 250,000 250,178 248,253 Stifel U.S. Agency Security FHLB 12/23/25 12/23/30 4.000% 250,000 250,000 249,635 Multi-Bank U.S. Agency Security FHLMC 09/15/22 08/01/27 3.740% 250,000 248,540 249,249 Stifel U.S. Agency Security FHLMC 04/09/25 01/01/30 4.000% 250,000 246,924 249,328 Stifel U.S. Agency Security FHLMC 05/27/25 10/01/29 4.200% 250,000 248,102 249,867 Stifel U.S. Agency Security FHLMC 06/09/25 02/01/30 4.000% 500,000 496,382 498,703 Stifel U.S. Agency Security FHLMC 06/30/25 04/01/30 4.120% 500,000 501,191 500,553 Stifel U.S. Agency Security FNMA 07/21/22 09/01/26 2.150% 250,000 238,655 246,605 Stifel U.S. Agency Security FNMA 02/03/25 01/01/30 4.560% 750,000 745,319 760,255 Stifel U.S. Agency Security FNMA 04/21/25 03/01/29 2.110% 275,000 255,106 261,683 Stifel U.S. Agency Security FNMA 05/28/25 02/01/29 2.990% 525,000 503,537 510,497 Stifel U.S. Agency Security FNMA 07/22/25 07/01/30 4.240% 500,000 499,987 501,980 Stifel U.S. Agency Security FNMA 07/31/25 09/01/29 2.710% 500,000 473,942 477,231 Stifel U.S. Agency Security FNMA 08/19/25 10/01/29 4.060% 500,000 501,015 499,510 Stifel U.S. Agency Security FNMA 08/19/25 11/01/28 3.760% 500,000 499,846 498,369 Stifel U.S. Agency Security FNMA 08/28/25 08/01/30 4.140% 455,000 456,413 455,576 Stifel U.S. Agency Security FNMA 09/03/25 08/01/30 4.005% 250,000 249,978 249,308 Stifel U.S. Agency Security FNMA 09/30/25 11/01/29 2.670% 250,000 240,381 238,521 Stifel U.S. Agency Security FNMA 10/22/25 05/01/30 3.440% 500,000 466,793 460,343 Stifel U.S. Agency Security FNMA 12/09/25 11/01/30 3.900% 250,000 249,670 247,733 Stifel U.S. Agency Security FNMA 12/31/25 12/01/30 3.990% 250,000 250,519 248,586 Stifel U.S. Agency Security Treasury 06/24/21 02/28/26 0.500% 250,000 246,775 248,698 Stifel U.S. Agency Security Treasury 09/29/21 06/30/26 0.875% 250,000 249,550 246,745 Stifel U.S. Agency Security Treasury 04/29/21 04/30/26 0.750% 500,000 497,800 495,420 Stifel Total Government Securities 15,505,000 15,358,807 15,319,935 Municipal Bonds*** various - - -
Negotiable Certificates of Deposit *** various 9,169,000 9,169,000 9,116,350 Corporate Bonds*** various
Total Investments $ 30,298,291 $ 30,152,098 $ 30,067,315 Deposits in Bank 279,104 *
Miscellaneous Cash 2,200 **
Total Cash and Deposits 281,304
Total Investments, Cash and Deposits $ 30,433,402
* Deposits represent the equity in the checking & payroll accounts. ** Miscellaneous cash represents a total of all petty cash accounts. *** Detailed list of Negotiable Certificates of Deposit/Corporate Bonds attached Candice Yu
Principal Accountant
I certify that this investment portfolio is in conformity with the Investment Policy of the City of La Puente as stated in Resolution No. 25-5941 dated June 10, 2025. The Investment Program provides sufficient liquidity to meet the next six months' estimated expenditures.

Troy O. Grunklee, CPA
Dir. Of Aministrative Services
Attachment B
CITY OF LA PUENTE Cash and Investment Report December 31, 2025 Negotiable Certificates of Deposit
Purchase Maturity Interest Face Book Market Source of
Issuer Date Date Rate Value Value Value Valuation
Greenstate Credit Union 3/30/21 4/16/26 0.95% 249,000 249,000 246,941 Stifel State Bank of India, NY 5/5/21 5/19/26 1.00% 248,000 248,000 245,441 Stifel UBS Bank 6/15/21 6/23/26 0.75% 248,000 248,000 244,585 Stifel Parsons FCU 6/24/21 6/30/26 0.50% 249,000 249,000 245,870 Stifel Sallie Mae Bank 6/30/21 7/8/26 1.00% 247,000 247,000 243,648 Stifel Goldman Sachs Bank 7/20/21 7/28/26 1.00% 248,000 248,000 244,201 Stifel Ally Bank 7/22/22 7/28/26 3.25% 246,000 246,000 245,405 Stifel Toyota Bank 7/21/21 7/29/26 0.95% 248,000 248,000 244,216 Stifel Synchrony Bank 8/24/21 8/27/26 0.90% 248,000 248,000 243,858 Stifel Pentagon FCU 8/17/21 9/1/26 0.85% 249,000 249,000 244,493 Stifel Healthcare System FCU 9/7/22 9/21/26 3.60% 249,000 249,000 249,022 Stifel Medallion Bank 9/14/21 9/30/26 0.90% 249,000 249,000 244,080 Stifel Live Oak Bank 10/4/21 10/19/26 0.90% 249,000 249,000 243,749 Stifel USF Federal Credit Union 10/14/21 10/28/26 0.90% 249,000 249,000 243,594 Stifel Capital One Bank NA 11/8/21 11/17/26 1.10% 248,000 248,000 242,715 Stifel Alabama Credit Union 6/7/23 12/21/26 4.85% 248,000 248,000 250,983 Stifel Connexus Credit Union 12/20/21 12/23/26 1.15% 249,000 249,000 243,437 Stifel Bank Hapoalim 12/8/21 12/26/26 1.35% 248,000 248,000 242,790 Stifel Nelnet Bank 1/24/22 2/2/27 1.45% 248,000 248,000 242,323 Stifel Amerant Bank 2/14/22 2/16/27 1.60% 248,000 248,000 242,561 Stifel Beal Bank 3/1/22 3/3/27 2.05% 248,000 248,000 243,620 Stifel American First Credit Union 4/24/23 4/27/27 4.40% 249,000 249,000 251,483 Stifel Cy Fair FCU 5/4/23 5/19/27 4.35% 248,000 248,000 250,396 Stifel Jeep Country FCU 6/21/23 6/29/27 4.70% 248,000 248,000 251,794 Stifel Capital One Bank USA 7/14/22 7/20/27 3.40% 245,000 245,000 244,000 Stifel Discover Bank 7/14/22 7/20/27 3.35% 245,000 245,000 243,819 Stifel American Express National Bank 7/22/22 7/27/27 3.45% 245,000 245,000 244,128 Stifel St. Vincent Medical Center Credit Union 8/3/22 8/12/27 3.50% 249,000 249,000 248,375 Stifel Belmont Bank 8/5/22 8/24/27 3.15% 249,000 249,000 246,958 Stifel Cobalt Credit Union 9/1/22 9/15/27 3.60% 249,000 249,000 248,734 Stifel Affinity Bank 3/13/23 3/17/28 4.90% 248,000 248,000 254,193 Stifel Morgan Stanley Private Bank 3/17/23 3/23/28 4.90% 244,000 244,000 250,063 Stifel Morgan Stanley Private Bank 6/30/25 7/1/30 4.30% 245,000 245,000 249,461 Stifel Civic Federal Credit Union 7/23/25 10/23/28 4.10% 249,000 249,000 251,194 Stifel BMW Bank of North America 8/15/25 8/15/28 3.85% 245,000 245,000 245,495 Stifel Workers Credit Union 8/18/25 8/20/29 3.90% 249,000 249,000 249,742 Stifel Canandaigua National Bank 11/26/25 11/26/30 4.00% 249,000 249,000 248,983 Stifel Total for Negotiable Certificates of Deposit $ 9,169,000 # $ 9,169,000 $ 9,116,350

CITY OF LA PUENTE
Cash and Investment Report Charts December 31, 2025
Local Agency Investment Fund,
$5,624,291
Federal Agency Securities,
$15,358,807
Negotiable Certificates of
Deposit, $9,169,000
Available Cash, $281,304
Investment Types
0%
10%
20%
30%
40%
50%
60%
< 12 MOS. 13-24 MOS. 25-36 MOS. 37-48 MOS.
52%
18%
6%
11%

PERCENTAGE TO TOTAL

DURATION OF MATURITY
Maturity Distribution
City of La Puente
Agenda Report
Agenda Item No. D.4
To: Mayor and City Council For meeting of: January 27, 2026 From: Bob Lindsey, City Manager
By: Troy Grunklee, CPA, Director of Administrative Services Candice Yu, Principal Accountant
Subject: PRESENTATION OF THE CITY’S ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR FISCAL YEAR ENDED JUNE 30, 2025

BACKGROUND/DISCUSSION
The audit of the City’s financial statements for the Fiscal Year Ended June 30, 2025 (FY 2024/2025) has been completed. The independent auditor, Van Lant & Fankhanel, LLP, rendered an unqualified opinion on the Annual Comprehensive Financial Report (ACFR). An “unqualified opinion” indicates that the City’s financial statements are prepared in accordance with applicable accounting standards and are reasonably assured to be free from material misstatements.

In compliance with requirements of the State of California and past City practices, the following reports are submitted to the City Council to be received and filed:
• Annual Comprehensive Financial Report
• Independent Accountant’s report on Agreed-Upon Procedures Applied to Appropriations Limit Worksheets
• Independent Auditor’s report on Internal Control and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards • Statement on Auditing Standards No. 114 Report
The FY 2024/2025 ACFR is attached for your review. The City ended the fiscal year with a fund balance in the General Fund of $29,527,759 – a decrease of $263,760 from the previous fiscal year. General Fund revenues increased year-over-year by $875,637, driven by growth in property tax due to higher assessed valuations as well as increase in sales and use tax related to an increase in consumer sales. While General Fund expenditures were slightly lower than the previous fiscal year, they were higher than budgeted expenditures for general government, public works and community development which partially offset the increase in revenues.

The following presents General Fund actuals for the past several years.

Agenda Report – Annual Comprehensive Financial Report for FY ended June 30, 2025 For City Council And Successor Agency Meeting of January 27, 2026

Page 2 of 3 ends

The General Fund reserves as of June 30, 2025, were $29,527,759. The fund balance reserves are categorized as follows:

Non-Spendable $ 9,039,251
Unassigned 20,488,508
The first category, Non-Spendable, is not in liquid form and therefore, cannot be used to pay for operating expenditures. A significant portion of non-spendable reserves is made up of money due to the City from loans to the former Redevelopment Agency as well as prepaid expenses.

The total year end fund balance for all governmental funds, including the General Fund, Special Revenue Funds, Capital Projects Funds, and Debt Services Funds was $38,905,457.

The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of La Puente for its ACFR for the fiscal year ended June 30, 2024. In order to be awarded a Certificate of Achievement, the government had to publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. The City has submitted the ACFR for the award program once again this year and staff has every expectation that the award will be received for FY 2024/2025.

FISCAL IMPACT
The City ended the year with an increase in combined fund balance for all governmental funds of $3,242,495.

This represents an addition to available financial resources for the City to use in future years.

RECOMMENDATION
It is recommended that the City Council receive and file the Annual Comprehensive Financial Report, the Independent Accountant’s report on the Appropriations Limit Worksheet, the Independent Auditor’s Report on Agenda Report – Annual Comprehensive Financial Report for FY ended June 30, 2025 For City Council And Successor Agency Meeting of January 27, 2026

Page 3 of 3 ends

Internal Control and Compliance, and the Statement on Auditing Standard No. 114 Report for the fiscal year ended June 30, 2025.

ATTACHMENTS
A. ACFR FY 24-25
B. ACFR FY 24-25 Independent Accountant Report
C. ACFR FY 24-25 Auditing Standard No. 114 Report
D. ACFR FY 24-25 Independent Auditor Report
Attachment A
City of La Puente
California
Annual Comprehensive Financial Report
For the Fiscal Year Ended
June 30, 2025
Prepared by:

The Administrative Services Department
City of La Puente
Annual Comprehensive Financial Report
Year Ended June 30, 2025

TABLE OF CONTENTS
PAGE
I. INTRODUCTORY SECTION
Letter of Transmittal i - v
Directory of Officials vi
Organization Chart vii
Certificate of Achievement for Excellence in Financial Reporting viii II. FINANCIAL SECTION
Independent Auditor’s Report 1 - 3
Management’s Discussion & Analysis 4 - 16
Basic Financial Statements:

Government-wide Financial Statements:

Statement of Net Position 17
Statement of Activities 18 - 19
Fund Financial Statements:

Governmental Funds:

Balance Sheet 20
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position 21 Statement of Revenues, Expenditures and Changes in Fund Balances 22 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities 23 Proprietary Funds:

Statement of Net Position 24
Statement of Revenues, Expenses and Changes in Net Position 25 Statement of Cash Flows 26
Fiduciary Funds:

Statement of Net Position 27
Statement of Changes in Net Position 28
Notes to Financial Statements 29 - 59
Required Supplementary Information:

Schedule of Changes in the City’s Net OPEB Liability and Related Ratios 60 - 61 Schedule of OPEB Plan Contributions 62
Schedule of Proportionate Share of the Net Pension Liability 63 Schedule of Pension Plan Contributions 64
Major Governmental Funds:

Budgetary Comparison Schedules:

General Fund 65
Gas Tax 66
Miscellaneous Grants 67
Notes to Required Supplementary Information 68
Supplementary Information:

Other Governmental Funds: 69 - 70
Combining Balance Sheet 71 - 74
Combining Statement of Revenues, Expenditures and Changes in Fund Balances 75 - 78 Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual:

Measure M Fund 79
Prop. C Transportation Fund 80
City of La Puente
Annual Comprehensive Financial Report
Year Ended June 30, 2025
TABLE OF CONTENTS - Continued
PAGE
Supplementary Information - Continued:

PEG Access Fund 81
State COPS Fund 82
Cal-HOME Grant Fund 84
CDBG Grant Fund 85
Air Quality Improvement Fund 86
Measure R Fund 87
Prop. A Transportation Fund 88
Housing Fund 89
Measure A Fund 90
Measure W Fund 91
LLMD Fund 92
HSIP Grant Fund 93
Capital Projects Fund 94
2019A Measure M Capital Projects Fund 95
2019B Measure R Capital Projects Fund 96
Citywide Debt Service Fund 97
2019A Measure M Debt Service Fund 98
2019B Measure R Debt Service Fund 99
III. STATISTICAL SECTION
Description of Statistical Section Contents 100
Financial Trends:

Net Position by Component - Last Ten Fiscal Years 101 - 102 Changes in Net Position - Last Ten Years 103 - 106
Government Activities Tax Revenue by Source - Last Ten Years 107 Fund Balances of Governmental Funds - Last Ten Fiscal Years 108 - 109 Changes in Fund Balances of Governmental Funds - Last Ten Fiscal Years 110 - 111 Revenue Capacity:

Assessed Value of Taxable Property by Use - Last Ten Fiscal Years 112 Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years 113 Principal Property Tax Payers (Top Ten) - Current Year and Nine Years Ago 114 Property Tax Levies and Collections - Last Ten Fiscal Years 115 Debt Capacity:

Ratios of Outstanding Debt by Type - Last Ten Fiscal Years 116 Direct and Overlapping Debt 117
Legal Debt Margin Information - Last Ten Fiscal Years 118 - 119 Demographic and Economic Information:

Demographic and Economic Statistics 120
Principal Employers - Current Year and Nine Years Ago 121 - 122 Operating Information:

Full-time Equivalent City Employees by Function - Last Ten Fiscal Years 123 - 124 Operating Indicators by Function - Last Ten Calendar Years 125 - 126 Capital Asset Statistics by Function - Last Ten Fiscal Years 127

i
November 20, 2025
Honorable Mayor, City Council, and Citizens:

City of La Puente, California

INTRODUCTION
The City of La Puente’s Annual Comprehensive Financial Report for the fiscal year ended June 30, 2025, is transmitted herewith in compliance with State law and the relevant requirements of Governmental Accounting, Auditing and Financial Reporting published by the Governmental Finance Officers Association (“GFOA”) of the United States and Canada. The information contained in this report offers a comprehensive scope of information which can be utilized by a large segment of the community, and is presented in a manner which will enable each reader to better understand all of the City's financial activities. Responsibility for both the accuracy of the data, and the completeness and fairness of the presentation, including all disclosures, rests with the Finance Department.

The financial statements are the responsibility of the City of La Puente’s management.

Consequently, management assumes full responsibility for the completeness and reliability of the information presented in this report. To provide a reasonable basis for making these representations, management of the City of La Puente has established a comprehensive internal control framework that is designed both to protect the government assets from loss, theft, or misuse, and to compile sufficient reliable information for the preparation of the financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) and the pronouncements of the Governmental Accounting Standards Board (“GASB”). Because the cost of internal controls should not outweigh their benefits, the City’s comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements are free from material misstatement. As management, we assert that, to the best of our knowledge and belief, this financial report is complete and reliable in all material respects.

The City’s financial statements have been audited by the independent certified public accounting firm of Van Lant & Fankhanel, LLP, Certified Public Accountants. The goal of the independent audit was to provide reasonable assurance that the financial statements of the City for fiscal year ended June 30, 2025, are free of material misstatement. The independent audit involved examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; assessing the accounting principles used and significant estimates made by management; and evaluating the overall financial statement presentation. The auditors have issued an unmodified (“clean”) opinion on these financial statements. The auditors’ report is located at the front of the financial section of this report. 15900 E. Main Street, La Puente, CA 91744-4719 Telephone (626) 855-1500 www.lapuente.org ii
GAAP requires that management provide a narrative introduction, overview, and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). In addition, the MD&A is intended to disclose any known significant events or decisions that affect the financial condition of the City. This letter of transmittal is designed to complement MD&A and should be read in conjunction with it. The City’s MD&A can be found immediately following the report of the independent auditors. The Statistical Section includes selected financial, demographic and other relevant information.

The financial statements present the financial condition of the City of La Puente (the primary government) and its component unit, La Puente Public Financing Authority. The financial reporting entity consists of: (1) the City, (2) organizations for which the City is financially accountable, and (3) organizations for which the nature and significance of their relationship with the City are such that exclusion would cause the City’s financial statements to be misleading or incomplete.

PROFILE OF THE CITY OF LA PUENTE
The City of La Puente (“City”) is located 20 miles east of downtown Los Angeles in the San Gabriel Valley. The community of La Puente is predominantly residential and home to over 39,000 residents. Commercial land usage is located primarily along major highways/arterials and industrial land usage is less than five percent (5%) of the City's 3.50 square mile land area.

Freeway access to the City is readily available from Interstate 10 and the 60 Freeway.

The City is a general law city, incorporated on August 1, 1956; however, the history of the community extends back much further. The City’s original name "Puente" means bridge in Spanish and refers to an early bridge built across the San Jose Creek by members of the Portola-Serra expedition in 1769, as they surveyed the region for Spain. A modernized version of the bridge can be seen in the City’s colorful seal. The community of La Puente began in 1841 when European settlers arrived by wagon train from New Mexico and obtained title to the large 49,000-acre Rancho La Puente. During the 1930's, the area was famous for its fruit and walnut groves. The largest walnut packing plant in the world was located in what would become the City.

The City operates under a council-manager form of government. Policy-making and legislative authority are vested in a governing City Council consisting of five council members, one of which is elected by the council to a one-year term as mayor and one as mayor pro-tem. The governing council is responsible, among other things, for passing ordinances, adopting the budget, appointing committees and hiring both the City Manager and a contract City Attorney.

The City Manager is responsible for carrying out the policies and ordinances of the City Council, for overseeing the day-to-day operations and for appointing heads of departments.

The City is a contract city and as such contracts for many of its services. These include law enforcement services, building and safety services, engineering, road maintenance and landscape maintenance. Law enforcement services are provided by the Los Angeles County Sheriff’s Department.

The Los Angeles County Fire District provides fire protection. The County also provides library services through a Library District, as well as sewer and sanitation services through a Sanitation District and public health services through a health center in the City. Funds for district services iii
are collected through property tax bills and are disbursed directly by the Los Angeles County Tax Collector’s Office.

Water services for the City are provided by La Puente Valley County Water District, San Gabriel Valley Water Company and Suburban Water Systems. Refuse collection is provided through a franchise agreement with a private waste collection company. There are seventeen public and private schools serving the City's residents. Public schools are operated by a combination of three different school districts: Hacienda La Puente Unified School District, Bassett Unified School District, and Rowland Unified School District.

The City provides a number of in-house programs and functions including: City Clerk’s Office, Development Services, Administrative Services, Recreation Services, and Public Safety (Code Enforcement, Parking Enforcement, and Animal Control). The City also operates various facilities to serve the community. These include a Community Center, Youth Learning Activity Center, Senior Center, La Puente Park and Grace F. Napolitano Nature Education Center.

BUDGETARY CONTROLS
The annual budget serves as the foundation for the City’s financial planning and control. Each year, a proposed budget is submitted to the City Council and several public meetings are conducted to obtain taxpayer comments. The budget is subsequently adopted by the Council through the passage of a resolution. All annual appropriations lapse at fiscal year-end. Certain multi-year project appropriations are re-budgeted by the City Council as part of the adoption process of the subsequent year’s budget. The level of budgetary control is maintained at the fund level.

LOCAL ECONOMY AND ECONOMIC OUTLOOK
The economic outlook is in a period of slow but still positive growth. The Consumer Price Index (“CPI”), a common measure for inflation, indicates an average 3.20% price increase for goods and services during the 12-month period between June 2024 and June 2025 according to the U.S. Bureau of Labor Statistics. This represents a significant challenge for the agency’s fiscal position, as lower quantities of goods and services are obtained for the same expenditure outlay. Local constituents, faced with increasing prices for critical needs such as food, housing, and childcare may require additional assistance from the City, placing additional strain on agency resources. Although inflation has not affected the City’s delivery of services to date, it will be closely monitored moving forward into the next fiscal cycle. Additionally, consumer spending remains steady even as consumer confidence declines due to inflationary pressures, tariff concerns, and rising unemployment which could cause a risk to sustained revenue growth. Lastly, the Federal Reserve’s interest rate reduction was a sign to a responsive monetary policy in the hopes of stabilizing economic conditions.

In the General Fund, revenues exceeded the budget by $1,327,821. The majority of this positive variance was due in part to a favorable market value adjustment in the investment holdings, it is noteworthy that the largest revenue source, taxes, concluded the period within a narrow margin of its budgeted expectation. Property Tax and Sales & Use Tax form the bulk of this category. This close conformity of actual tax revenues to the adopted budget can be interpreted as an indicator of the stability of the local economy as well as the quality of the City’s forecasting process. Licenses & Permits represents the remainder of the positive iv
variances which is representative of development activity within the jurisdiction, exceeded their respective budgets by six figure sums, further pointing to the strength and diversity of the City’s revenue portfolio.

MAJOR INITIATIVES AND ACCOMPLISHMENTS
The Capital Improvement Program (“CIP”) was an area of focus for the City of La Puente during the fiscal period. Several large-scale improvements to the local infrastructure were completed, including:
- Local Streets Pavement Resurfacing project design was completed during the fiscal year. The completion of the design phase will enable construction to begin and be completed in FY 2025/2026. This project will continue a multi-year effort to resurface over one million square feet of heavily deteriorated pavement in both residential and commercial areas
- High-Intensity Activated Crosswalk Beacon (HAWK) construction was completed.

Project completion will now allow for safer pedestrian traffic crossing on Hacienda Blvd. at Pritchard St. near La Puente Park.
- Council Chamber renovation completed updates to technology in Council Chambers and the adjacent conference room area, that included major audio-visual system upgrades and telephonic/communication upgrades.
- Old Valley Sewer Improvements completed the extension of the City’s sewer line on Old Valley Blvd. to the intersection of Valley Blvd. and into the Animal Kennel and Dog Park.

Not only do these improvements allow for a safer and more aesthetically pleasing community, but they also represent a prudent investment in the future condition of our infrastructure – saving the City from emergency maintenance and repair costs. In addition to the aforementioned completed projects, a number of CIP projects received funding during the fiscal year but will remain under construction into future periods. These include the construction phase of the Local Streets Pavement Resurfacing Project, the Park Activity Building, the Animal Kennel and Dog Park, and the design phase of the ATP Cycle 6 project.

Collectively, these form the Construction-in-Progress balance on the capital assets footnote.

Many of these projects are budgeted for completion in FY 2025/2026.

During FY 2024/2025, the City began a second round of the Youth Workforce Development Program. Funded by a $2.0 million grant award from the Office of the Governor as part of the California Volunteers initiative, the goal of the program was to offer meaningful employment opportunities to young people between the ages of 18 and 30. Individuals within the La Puente program were assigned to part-time positions in various occupational fields, including public works, maintenance, parks and recreation, foodservice, and information technology.

Youth participants were offered support services, training and certifications. A third $2 million grant for the same purpose was awarded to the City in March 2025 and will be expended in FY 2025/2026 as Phase III of the program.

LONG-TERM FINANCIAL PLANNING
The unassigned fund balance in the General Fund is $20.49 million or 90% of General Fund expenditures and transfers out, and total General Fund balances equal $29.53 million. The City did not adopt a balanced budget policy in Fiscal Year 2025/2026 and is expected to utilize approximately $487,300 of unassigned fund balance. The City has a Budget and Fiscal policy that was approved by City Council which requires a General Fund reserve of 25% of budgeted

CITY OF LA PUENTE, CALIFORNIA

ELECTED OFFICIALS - CITY COUNCIL
Valerie Muñoz, Mayor
Charlie Klinakis, Mayor Pro Tem
David Argudo, Council Member
Nadia Mendoza, Council Member
Gabriel Quiñones, Council Member

CITY OFFICIALS
City Manager..................................................................................................................Bob Lindsey City Attorney .................................................................... Olivarez Madruga Law Organization LLP City Clerk...........................................................................................................Martha Torres, MPA Director of Administrative Services/City Treasurer............................................Troy Grunklee, CPA Director of Development Services........................................................................... Abraham Tellez Director of Community Services................................................................................. Alex Bauman Principal Accountant .......................................................................................................Candice Yu

Government Finance Officers Association
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of La Puente
California
For its Annual Comprehensive
Financial Report
For the Fiscal Year Ended
June 30, 2024
Executive Director/CEO
viii

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement when it exists.

The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

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

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

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, and other required supplementary information, as listed in the table of contents, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
2 Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The accompanying combining statements and the budget schedules, as listed in the table of contents, are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining statements, as listed in the table of contents, are fairly stated, in all material respects, in relation to the basic financial statements as a whole.

Other Information
Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor’s report thereon. Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon.

In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued a report dated November 20, 2025, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters.

The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.

November 20, 2025
3 City of La Puente
Management Discussion and Analysis
June 30, 2025

MANAGEMENT'S DISCUSSION AND ANALYSIS
Our discussion and analysis of the City of La Puente’s financial performance provides a narrative overview and analysis of the financial activities of the City of La Puente (City) for the fiscal year ended June 30, 2025. Our analysis includes information regarding the City’s overall financial position and results of operations to assist users in evaluating the City’s financial position, a discussion of significant changes that occurred in funds, and information regarding significant budget variances. In addition, it describes the activities during the year for capital assets and long-term debt. We end our discussion and analysis with a description of currently known facts, decisions, and conditions that are expected to have a significant effect on the financial position or results of operations. Readers are encouraged to consider the information presented here in conjunction with additional information furnished in the letter of transmittal, which can be found on page i of this report and the City’s basic financial statements, which begin on page 17 of this report.

FINANCIAL HIGHLIGHTS
Government-wide
The City’s assets and deferred outflows of resources exceeded its liabilities and deferred inflows of resources at the close of the fiscal year by $97,460,356 (net position). Of this, $27,798,715 is in unrestricted funds that may be used to meet the City’s ongoing obligations to citizens and creditors.
The City’s total net position increased by $1,204,012 from the previous fiscal year. Citywide revenues were $33,177,984. Total revenues are composed of $20,500,537 in general revenue dollars, $5,031,704 in charges for services, $1,197,995 in operating grants and contributions, and $6,447,748 in capital grants and contributions. Citywide expenses were $31,973,972 with public safety being the largest functional area at $10,986,195 or approximately 34% of the total expenses.

Fund level
The total fund balance for all governmental funds was $38,905,457 at the close of the fiscal year. Of that amount, $9,061,368 is nonspendable and $9,819,678 is restricted and not available for spending. The remaining $20,024,411 is unassigned. Additional information on the fund balances for all governmental funds is on page 20 of this report. General Fund net change in fund balance decreased by $263,760 for the fiscal year ended June 30, 2025.
Governmental fund balances in total increased by $3,242,495 during fiscal year 2024-2025.

OVERVIEW OF THE BASIC FINANCIAL STATEMENTS
The Basic Financial Statements
This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements. The City’s basic financial statements are comprised of three components as follows:

Government-wide financial statements. The government-wide financial statements are comprised of the Statement of Net Position and Statement of Activities. These two statements are designed to provide readers with a broad overview of the City’ s finances utilizing the full accrual method of accounting, in a manner similar to a private-sector business. Under the full accrual method of accounting, transactions are reported as soon as the underlying events occur, regardless of the timing of related cash flows.
4 City of La Puente
Management Discussion and Analysis
June 30, 2025
Statement of Net Position. This report presents information on all the City’s assets and deferred outflows of resources and liabilities and deferred inflows of resources, including capital assets and long-term liabilities, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City as a whole is improving or deteriorating.

Statement of Activities. The information presented in this report shows how the City's net position changed during the most recent fiscal year. Functional activities are highlighted in this statement, whereby direct and indirect functional expenses are shown net of related program revenue. This statement shows the extent to which various functions depend on general taxes and non-program revenues for support.

Both of these government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenues (referred to as governmental activities), from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (referred to as business-type activities). The governmental activities of the City include general government, public safety, public works, recreation/senior services, and community development. Program revenues finance approximately forty percent of these activities and general revenues finance the difference.

The Government-wide Financial Statements can be found on pages 17 to 19 of this report.

Fund financial statements. The fund financial statements focus on current available resources and report the City’s operations in more detail for the City’s most significant funds. Each fund is defined as a fiscal and accounting entity with a self-balancing set of accounts established for the purpose of carrying on specific activities or attaining certain objectives in accordance with authorities or legal mandates, restrictions or limitations. All of the funds of the City can be divided into three categories: governmental funds, proprietary funds, and fiduciary funds.

Governmental funds. These statements focus on the near-term inflows and outflows of spendable resources, as well as on balances of spendable resources at the end of the fiscal year. Such information provides a short-term view of the City's general government operations and show whether there are more or fewer financial resources that can be spent in the near future to finance the City's programs. These funds are reported using the modified accrual method of accounting, which measures cash and all other financial assets that can readily be converted to cash. The relationship between governmental activities and the governmental funds are reported on the Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position page of the Government-wide Financial Statements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements.

By doing so, readers may better understand the long-term impact of the City’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The City maintains twenty-six individual governmental funds for financial reporting purposes.

Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the General Fund, the Gas Tax Fund, and the Miscellaneous Grants Fund, which are considered to be major funds. Data from the remaining governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these non-major governmental funds is provided in the form of combining statements elsewhere in this report.

The City adopts an annual appropriated budget for its general fund, special revenue funds and capital projects fund. A budgetary comparison statement has been provided for the General Fund to demonstrate compliance with this budget.
5 City of La Puente
Management Discussion and Analysis
June 30, 2025
The governmental fund financial statements can be found on pages 20 to 23 of this report.

Proprietary fund. The City maintains two different types of proprietary funds. The enterprise fund is used to report the same functions presented as business-type activities in the government-wide financial statements. The City’s enterprise fund accounts for sewer construction and maintenance operations. The City’s internal service funds account for equipment and maintenance services for the computer systems as well as vehicles owned by the City.

Fiduciary funds. These funds are used to account for resources held for the benefit of parties outside the government. They are not reflected in the government-wide financial statements because the resources of these funds are not available to support the City's own programs. The accounting used for fiduciary funds is much like that used for proprietary funds.

The fiduciary fund financial statements can be found on page 27 and 28 of this report.

Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in both the government-wide and fund financial statements.

The notes are on pages 29 to 59 of this report.

In addition to the basic financial statements and notes, this report contains other supplementary information.

GOVERNMENT-WIDE FINANCIAL ANALYSIS
Governmental Activities
This analysis focuses on the net position and changes in net position of the City’s governmental activities which are presented in the government-wide financial statements.

Table 1
Net Position - Governmental Activities
2025 2024 Change % Change
Current and Other Assets $ 52,316,577 $ 50,625,737 $ 1,690,840 3.34% Capital Assets 61,978,172 62,988,021 (1,009,849) -1.60% Total Assets 114,294,749 113,613,758 680,991 0.60%
Deferred Outflows of Resources 2,499,415 4,427,972 (1,928,557) -43.55% Other Liabilities 5,155,148 5,218,977 (63,829) -1.22%
Long-term Liabilities 22,905,891 23,868,492 (962,601) -4.03% Total Liabilities 28,061,039 29,087,469 (1,026,430) -3.53% Deferred Inflows of Resources 1,383,553 2,206,550 (822,997) -37.30% Net Position:

Net investment in capital assets 49,668,990 50,397,765 (728,775) -1.45% Restricted 9,881,867 8,421,474 1,460,393 17.34%
Unrestricted 27,798,715 27,928,472 (129,757) -0.46%
Total Net Position $ 87,349,572 $ 86,747,711 $ 601,861 0.69% 6 City of La Puente
Management Discussion and Analysis
June 30, 2025
Net position may serve over time as a useful indicator of the City’s financial position. The City's governmental assets exceeded its liabilities by $87,349,572 at the close of the fiscal year, an increase of $601,861 or 0.69% from the previous year. The primary reasons for the change in net position are as follows:
Current and Other Assets increased by $1,690,840 or 3.34%. This majority of the increase is associated with an increase in cash and investments related to outstanding grant reimbursements from the State being received in the current year that were shown as due from other government in the prior year.
Capital Assets decreased by $1,009,849 or -1.60% primarily due to accumulated depreciation of assets during the year and deletion of assets in the equipment, furniture and intangible right-to-use asset categories.
Overall, assets increased by 0.60% year-over-year.
Liabilities, both Other and Long-term, show very little change from FY 2023/2024 and decreased based on scheduled long-term debt payments.
Deferred Inflows of Resources decreased by $822,997 or -37.30% year-over-year, contributing to the increase in net position. This is primarily related to pensions and other post-employment benefits (OPEB) and leases.
Likewise, Deferred Outflows of Resources decreased by $1,928,557 or -43.55%, also related to pensions and other post-employment benefits (OPEB).

The largest portion of the City’s net position is net investment in capital assets (land, construction in progress, buildings and improvements, equipment/furniture, and infrastructure) valued at $49,668,990 (57% of total net position), less any related debt outstanding used to acquire those assets. The City uses these capital assets to provide services to citizens. The capital assets are not available for future spending. Resources needed to repay the related debt outstanding must be provided from other sources because the capital assets cannot be used to liquidate these liabilities.

A portion of net position, $9,881,867 or 11%, represents resources that are subject to external restrictions on how they may be used (shown as “restricted” in Table 1). The remaining balance of $27,798,715, or 32%, is unrestricted. This amount includes $8,890,590 which represents the advances for the loans between the former Redevelopment Agency and the City and is not in spendable form. The remaining amount is $18,908,125 and may be used to meet the City’s ongoing obligations to citizens and creditors.
7 City of La Puente
Management Discussion and Analysis
June 30, 2025
Table 2
The City’s net position increased by $601,861 for governmental activities during the fiscal year because of revenues being greater than expenses. The total cost of all City governmental activities was $31,181,092 for the fiscal year. Net gain of all governmental activities was $601,861.

Total revenues decreased by $748,541 year-over-year primarily due to a significant decline in capital grants and contributions (program revenue). This is attributable to the reduction in grant funding from the Office of the Governor, youth workforce development grant. Although the City continued to receive the grant, the award amount was less than the prior year. Property Tax and Sales and Use Taxes offset the decrease due to stronger collections in those line items. 8 City of La Puente
Management Discussion and Analysis
June 30, 2025
Revenue Sources:

The revenue sources from governmental activities presented in Table 2 are illustrated in Figure 1 below to show the percentage relationship of these revenues to each other, as well as their impact on the City's total resources.

Figure 1
Revenues by Source – Governmental Activities
As shown in Figure 1, over 58% of the City's total governmental revenues are from taxes, which are primarily comprised of property, sales and use, transient occupancy, and franchise taxes.

Program revenues totaled 36% of the total resources and investment income and miscellaneous income amounted to 6% of the total governmental revenues for the year.

Expense and Program Revenues:

The City's expenses in connection with its governmental activities are categorized by function, namely general government, public safety, public works, recreation/senior services, and community development. The program revenues associated with these governmental activities are classified into three categories which are charges for services, operating grants and contributions, and capital grants and contributions.
9 City of La Puente
Management Discussion and Analysis
June 30, 2025
Governmental activities increased the City’s net position by $601,861. Key elements are as follows:
Property Tax increased by $461,253 – around 5.15% - driven by an increase in assessed values throughout the period.
Sales & Use Taxes increased by $287,678 – around 4.18% - related to an increase in consumer sales during the year.
Capital Grants and Contributions decreased by -20.81% or $1,693,999, due to the reduction in the grant funding related to the youth workforce development funds. The City was awarded additional funding related to this grant, however there was less available funding from the State. The City was awarded the next round of funding that will be spent in the next fiscal year.
Charges for Services shows a 4.73% or $166,874 increase year-over-year, due to strong activity levels in the Community Development and Recreation functions, and the implementation of new user fee rates towards the end of the fiscal period.

The relationship of the City’s program revenues with the related governmental functions is illustrated in Figure 2 on the subsequent page.

Public works and community development services are largely funded by program revenues. The general government, public safety, and recreation/senior services receive limited program revenue and are primarily funded with general revenues of the City. It is typical for governmental programs to be subsidized by General Fund revenues, as the program revenues are generally not adequate to finance the governmental programs.

Figure 2
Expense and Program Revenues
10 City of La Puente
Management Discussion and Analysis
June 30, 2025
Business-type Activities
The analysis of business-type activities focuses on the net position and changes in net position of the City’s sewer function which are presented in the government-wide financial statements.

Table 3
Business-type Activities Net Position
2025 2024
Current and Other Assets $ 3,342,700 $ 3,262,221
Capital Assets 12,822,086 12,451,734
Total Assets 16,164,786 15,713,955
Deferred Amounts on Refunding 380,771 410,061
Total Deferred Outflows of Resources 380,771 410,061
Other Liabilities 629,773 410,383
Long-term Liabilities Outstanding 5,805,000 6,205,000
Total Liabilities 6,434,773 6,615,383
Net Position:

Net investment in capital assets 6,997,857 6,266,795
Unrestricted 3,112,927 3,241,838
Total net position $ 10,110,784 $ 9,508,633
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
General
Government
Public Safety Public Works Recreation/Senior
Services
Community
Development
Program Revenues Expenses
11 City of La Puente
Management Discussion and Analysis
June 30, 2025
Table 4
Business-type Activities Change in Net Position
2025 2024
Revenues
Charges for services $ 1,339,966 $ 1,479,956
Investment & Other Income 55,065 44,279
Total revenues 1,395,031 1,524,235
Expenses
Sewer assessment 577,022 543,793
Other expenses 215,858 227,102
Total expenses 792,880 770,895
Excess of revenues over expenses 602,151 753,340
Change in net position 602,151 753,340
Net position, beginning 9,508,633 8,755,293
Net position, ending $ 10,110,784 $ 9,508,633
The net position of the City’s business-type activities increased by $602,151. As shown in Table 3, “Capital Assets” reflects an increase of $370,352. The increase is due to the completion of a capital project in the current fiscal year.

The City’s business-type program revenues exceeded expenses by $602,151 as shown in Table

4. This is due in large part to revenue streams in the form of Charges for Services, which reflect the two (2) annual fees that property owners within the City’s jurisdiction pay to connect to the City’s sanitary sewer. Expenses within the fund are also managed conservatively. The City’s sewer utility is its only business-type activity.

FINANCIAL ANALYSIS OF THE CITY’S MAJOR FUNDS
Governmental Funds – Fund Level
The City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Focusing on financial resources, the City’s Governmental Funds provide information on near-term inflows and outflows, and balances of spendable resources. This information is useful in assessing the City’s ability to meet financial requirements. In particular, unreserved fund balance may serve as a useful measure of government net resources available for spending at the end of the fiscal year.
Fund Balance – As of June 30, 2025, the City’s Governmental Funds reported a combined fund balance of $38,905,457 which increased by $3,242,495 from the prior year fund balance.
Fund Balance Classification
# The City has $9,061,368 in non-spendable fund balance as of June 30, 2025. Nonspendable fund balance includes amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact. Examples are inventories, prepaid expenses, long-term receivables, or land held for resale.
12 City of La Puente
Management Discussion and Analysis
June 30, 2025
# Restricted fund balance amounted to $9,819,678 at June 30, 2025. Restricted fund balance includes resources that are subject to externally enforceable legal restrictions.
# The General Fund has unassigned fund balance of $20,488,508. Unassigned fund balance is the residual classification for the City’s General Fund and includes all spendable amounts not contained in the other classifications.

Major activities in the Governmental Funds in the current fiscal year include the following:
General Fund – The General Fund ended the year with a $29,527,759 fund balance, a decrease of $263,760 from the previous year. General Fund revenues totaled $21,906,821. This exceeds the FY23/24 figure by $875,637.
Taxes increased year-over-year by $811,796 in the General Fund due to strong increases in property tax related to an in assessed valuations throughout the period as well as increase in sales and use tax related to an increase in consumer sales during the year.
Intergovernmental increased in total government revenue by $981,387 related to the youth workforce grant program that the City received from the State. General Fund expenditures totaled $21,580,055. This is slightly less than FY 23/24 figure by $93,000, however there are variances in individual functions that both increase and decrease from the previous year as explained below. Public Works increased year-over-year by $279,980 in the General Fund due to lease and operation costs of a building for City use.
Community Development decreased year-over-year by $298,153 in the General Fund due to completion of a job program in the prior year using one-time pandemic related funding sources
Capital Outlay decreased year-over-year by $387,896 in the General Fund due to the completion of the parks master plan project at La Puente Park. The Miscellaneous Grants Fund had a negative ending fund balance of $(296,945) which was an increase of $1,934,689 from the previous year. This fund is comprised of several state grants. The largest of these is from the Office of the Governor, and funds youth workforce development efforts. The grant agreements require that the City outlay the initial cash for purchases of eligible goods and services, and later apply for state reimbursement. The City received funds in the current year that related to prior years expenditures.
13 City of La Puente
Management Discussion and Analysis
June 30, 2025

CAPITAL ASSETS AND DEBT ADMINISTRATION
Capital Assets
The City’s investment in capital assets, net of accumulated depreciation, for governmental and business-type activities as of June 30, 2025 is $74,800,258. Capital assets, net of accumulated depreciation, include land, construction in progress, buildings and improvements, equipment, vehicles, furniture, fixtures, and computer software and hardware. Infrastructure assets are reported at cost, where historical records are available and at estimated cost where no historical records exist.

The net decrease in capital assets for the fiscal year was $639,497 due to additions including the completion of road improvements and park projects. Additional information on the City’s capital assets can be found in Note 5 of the financial statements. Table 5 shows a summary of changes in capital assets (net of depreciation) as of June 30, 2025.

Major activities in Capital Assets in the current fiscal year include the following:
Construction in Progress shows an increase of $1,051,561 from the previous year due to the beginning or continuation of certain projects including the Local Streets Pavement Resurfacing design, the Animal Shelter/Kennel project, and the Dog Park. These projects expect to be completed in the upcoming fiscal year. Buildings and Improvements show a decrease of $1,445,638 related to accumulated depreciation on all the city’s buildings and improvements. Infrastructure shows a decrease of $661,220 related to accumulated depreciation on all the city’s infrastructure; however, this was offset by the addition and completion of the high intensity activated crosswalk (“HAWK signal”) to traffic control devices in the city’s infrastructure category.
14 City of La Puente
Management Discussion and Analysis
June 30, 2025
Debt Administration
In November 2007 the City issued the 2007 Sewer Revenue Bonds for $10,260,000. The City refinanced the bonds in August 2016 (2016 Sewer Refunding Bonds) to take advantage of lower interest rates. The refunding of the 2007 Sewer Revenue Bonds resulted in an annual savings of approximately $62,000 in debt service payments through 2037. The debt service payment on the bonds will be made by the sewer fees collected from the City residents on their property tax bills.

In October 2015, the City signed an agreement with the City of Industry for a $5,952,908 loan to be used for Valley Boulevard improvements. To date, the City has received $1,422,945 of the loan proceeds. The loan has a term of 30 years at a simple interest rate of .33% (the LAIF interest rate at the time of signing). Payments on the loan were to be in the amount of $208,741.57 annually and will be made from annual Measure R funds received by the City, however during the 2018-19 fiscal year; the City will not draw on any additional funds on this loan.

A new amortization schedule was developed and approved by the City of Industry in October 2019 and the new annual payment will be $53,287.

In November 2019, the City issued Series 2019A and Series 2019B Bonds, the proceeds of which were $3,910,000 and $3,470,000, respectively. The purpose of this debt issuance is to finance deferred capital costs related to street resurfacing throughout the City. The annual debt service, including principal and interest, is funded by Measure R and Measure M Local Return revenues received from the Los Angeles County Metropolitan Transportation Authority. Interest rates on this debt range from 2.75% to 4.00%, with semiannual payments from $125,000 to $225,000 over the next twenty years.

In 2020, the City issued Series 2020A Pension Obligation Bonds, raising $8,517,708 in certificates of participation. The proceeds were disbursed to the California Public Employees Retirement System (CalPERS) for liquidation of the City’s Unfunded Actuarial Liability (UAL) and Other Post Employment Benefit (OPEB) liabilities. This action allows the City to save thousands of dollars over the next several decades and take advantage of favorable interest rates. Payments will be made twice per year until 2039 at a rate of 3.05%. Total debt service will amount to $10,888,092.

In January of 2022, the City issued Series 2022A Certificates of Participation (COPs). This is a private-placement debt with an interest rate of 2.310% payable through 2039. $3,758,856 was raised for the purpose of funding energy efficient capital improvements at various City facilities.

Annual principal and interest payments are financed by the General Fund.

Additional information on the City’s long–term debt can be found in Note 6 to the financial statements.

GENERAL FUND BUDGETARY ANALYSIS
The revenue budget for fiscal year 2024-2025 was $20,579,000. Actual General Fund revenues were higher than the final budgeted revenues by $1,327,821 for a total of $21,906,821. Several factors played into this variance with budgeted projections. Taxes displayed a result of $2,903 over budget – a generally immaterial amount. Licenses and Permits recorded revenues in excess of $200,000 due to strong building permit activity during the year. Charges for services came in under budget by $143,276 due to a grant from the county to offset recreation costs for city residents. Noteworthy also is the large positive revenue variance in Investment Income – over $1.1 million. Although the City did exceed its budget for interest revenue in general, much of this excess variance is due to the GASB market value adjustment recognizing the unrealized change in the assets value.

Expenditure appropriations were adopted in the amount of $21,313,100, of which $1,137,800 was slated for capital expenditures and the remainder for the operating budget. Factoring out the transfers, General Fund expenditures were $266,955 more than budgeted appropriations. Fund balance decreased by $263,760 over the course of the fiscal year, for an ending fund balance at June 30th of $29,527,759.
15 City of La Puente
Management Discussion and Analysis
June 30, 2025

NEXT YEAR'S BUDGET AND ECONOMIC FACTORS
As we look ahead to the next fiscal year, the City remains focused on key priorities such as public safety, health and wellness initiatives, and infrastructure enhancements. The City of La Puente is dedicated to fostering a community where residents and visitors can move around, play, enjoy recreational activities, and conduct business in a contemporary and forward-thinking setting.

The safety and ease of transportation within city limits has long been an area of focus for the City Council. The FY 2025/2026 Budget and Capital Improvement Program (CIP) provides an appropriation of $2,875,000 for construction on the next phase of the Local Streets Pavement Resurfacing project, as well as $220,000 for slurry seal work. The design for the ATP Cycle 6 project is budgeted at $325,000. This project will allow the City to construct sidewalks, ADA ramps, and bike lanes that support and promote pedestrian and cyclist travel.

The CIP also includes a budget of $640,000 for a new animal shelter and kennel facility located at the intersection of Valley Blvd. and Old Valley Blvd. Establishing this city-run facility will eliminate reliance on contracts with external service providers for animal related services, allowing both cost savings and continuity of operations in the long term. Adjacent to the shelter and kennel is a planned dog park and recreation area. This project, financed by a $750,000 appropriation from the Measure A fund, will not only provide a space for pet owners to recreate, but will also add much needed parkland space to the eastern portion of La Puente. In the operating budget, continued funding for public safety, robust homelessness services, and park maintenance and repair are provided for.

In the larger picture of the economy, both locally and nationally, falling interest rates present a degree of uncertainty as they may lead to unpredictability in inflation levels, borrowing costs, and treasury performance. Management will closely monitor these matters and any potential impact to the City of La Puente’s fiscal condition as the year progresses. General Fund revenues are likely to see a 2% decrease over last year’s budget so prudent and conservative spending is paramount to the City Council. The City’s strong fund balances should also help to provide consistency in the level of public services provided, despite any economic fluctuations that may exist on the horizon.

REQUESTS FOR INFORMATION
This financial report is designed to provide a general overview of the City of La Puente's finances for all those interested in them. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the City's Finance Department, at 15900 E. Main Street, La Puente, California, 91744. 16 City of La Puente
Statement of Net Position
June 30, 2025
Governmental Business-type
Activities Activities Total
ASSETS
Cash and Investments $ 29,841,804 $ 3,328,301 $ 33,170,105 Cash and Investments with Fiscal Agent 548 - 548
Accounts Receivable 395,539 - 395,539
Interest Receivable 6,825,651 - 6,825,651
Loans Receivable 1,728,593 - 1,728,593
Lease Receivable 215,579 - 215,579
Due From Other Governments 3,533,923 14,399 3,548,322
Prepaid Items 189,872 - 189,872
Advance to Successor Agency, Net 8,890,590 - 8,890,590
Restricted Cash 694,478 - 694,478
Capital Assets, Not Depreciated 5,756,535 - 5,756,535
Capital Assets, Depreciated, Net 56,221,637 12,822,086 69,043,723 Total Assets 114,294,749 16,164,786 130,459,535

DEFERRED OUTFLOWS OF RESOURCES
Deferred Amounts on Refunding - 380,771 380,771
Deferred Outflows Related to Pensions 1,890,287 - 1,890,287 Deferred Outflows Related to OPEB 609,128 - 609,128
Total Deferred Outflows of Resources 2,499,415 380,771 2,880,186

LIABILITIES
Accounts Payable and Accrued Liabilities 3,318,724 214,622 3,533,346 Interest Payable 90,593 15,151 105,744
Unearned Revenues 65,159 - 65,159
Due to Other Agencies 986,194 - 986,194
Deposits 694,478 - 694,478
Long-Term Liabilities
Due Within One Year 1,532,346 400,000 1,932,346
Due in More Than One Year 21,373,545 5,805,000 27,178,545 Total Liabilities 28,061,039 6,434,773 34,495,812

DEFERRED INFLOWS OF RESOURCES
Deferred Inflows Related to Pensions 776,100 - 776,100
Deferred Inflows Related to OPEB 391,874 - 391,874
Lease Related 215,579 - 215,579
Total Deferred Inflows of Resources 1,383,553 - 1,383,553

NET POSITION
Net Investment in Capital Assets 49,668,990 6,997,857 56,666,847 Restricted for:

Street Projects 4,842,462 - 4,842,462
Public Works 1,494,088 - 1,494,088
Housing 2,123,592 - 2,123,592
Community Development 1,421,725 - 1,421,725
Sewer Operations - 3,112,927 3,112,927
Unrestricted 27,798,715 - 27,798,715
Total Net Position $ 87,349,572 $ 10,110,784 $ 97,460,356 The accompanying notes are an integral part of this statement. 17 City of La Puente
Statement of Activities
Year Ended June 30, 2025
Charges Operating Capital
for Grants and Grants and
Expenses Services Contributions Contributions
Governmental Activities:

General Government $ 3,305,958 $ 403,984 $ - $ -
Public Safety 10,986,195 850,137 228,225 -
Public Works 4,461,778 12,130 - 2,284,925
Recreation/Senior Services 4,003,254 203,410 88,453 -
Community Development 7,932,178 2,222,077 881,317 4,162,823 Interest Expense 491,729 - - -
Total Governmental Activities 31,181,092 3,691,738 1,197,995 6,447,748 Business-type Activities:

Sewer Assessment 792,880 1,339,966 - -
Total Business-type Activities 792,880 1,339,966 - -
Total Primary Government $ 31,973,972 $ 5,031,704 $ 1,197,995 $ 6,447,748 General Revenues:

Taxes:

Property Taxes
Franchise Taxes
Sales Taxes
Property Transfer Tax
Transient Occupancy Tax
Business License Taxes
Investment Income
Other
Total General Revenues
Change in Net Position
Net Position - Beginning of Year
Net Position - End of Year
Functions/Programs
Program Revenues
The accompanying notes are an integral part of this statement. 18 Governmental Business-type
Activities Activities Total
$ (2,901,974) $ (2,901,974) - $
(9,907,833) - (9,907,833)
(2,164,723) - (2,164,723)
(3,711,391) - (3,711,391)
(665,961) - (665,961)
(491,729) - (491,729)
(19,843,611) - (19,843,611)
- 547,086 547,086
- 547,086 547,086
(19,843,611) 547,086 (19,296,525)
9,423,554 - 9,423,554
1,307,800 - 1,307,800
7,172,759 - 7,172,759
73,557 - 73,557
314,866 - 314,866
173,476 - 173,476
1,815,308 55,065 1,870,373
164,152 - 164,152
20,445,472 55,065 20,500,537
601,861 602,151 1,204,012
86,747,711 9,508,633 96,256,344
$ 87,349,572 $ 10,110,784 $ 97,460,356
Net (Expense) Revenue and Changes in Net Position
19 City of La Puente
Balance Sheet
Governmental Funds
June 30, 2025
Other
General Gas Miscellaneous Governmental
Fund Tax Grants Funds Total
ASSETS
Cash and Investments $ 19,702,971 $ 560,377 $ - $ 8,679,494 $ 28,942,842 Cash with Fiscal Agent - - - 548 548
Accounts Receivable 389,454 - - 6,085 395,539
Interest Receivable 6,825,651 - - - 6,825,651
Loans Receivable - - - 1,728,593 1,728,593
Lease Receivable 215,579 - - - 215,579
Due from Other Governments 1,516,217 272,719 1,371,390 304,208 3,464,534 Due from Other Funds 1,555,522 - - - 1,555,522
Restricted Cash 694,478 - - - 694,478
Prepaid Items 148,661 2,966 - 19,151 170,778
Advances to Successor Agency 8,890,590 - - - 8,890,590
Total Assets $ 39,939,123 $ 836,062 $ 1,371,390 $ 10,738,079 $ 52,884,654

LIABILITIES
Accounts Payable and Accrued Liabilities 2,741,552 $ $ 159,205 $ 85,167 $ 329,519 $ 3,315,443 Due to Other Agencies - - - 986,194 986,194
Unearned Revenue 65,159 - - - 65,159
Deposits 694,478 - - - 694,478
Due to Other Funds - - 1,338,166 217,356 1,555,522
Total Liabilities 3,501,189 159,205 1,423,333 1,533,069 6,616,796

DEFERRED INFLOWS OF RESOURCES
Unavailable Revenues - Interest 6,694,596 - - - 6,694,596 Unavailable Revenues - Grants - - 245,002 207,224 452,226 Lease Related 215,579 - - - 215,579
Total Deferred Inflows of Resources 6,910,175 - 245,002 207,224 7,362,401

FUND BALANCES
Nonspendable 9,039,251 2,966 - 19,151 9,061,368
Restricted - 673,891 - 9,145,787 9,819,678
Unassigned 20,488,508 - (296,945) (167,152) 20,024,411
Total Fund Balances 29,527,759 676,857 (296,945) 8,997,786 38,905,457 Total Liabilities, Deferred Inflows of
Resources, and Fund Balances 39,939,123 $ $ 836,062 $ 1,371,390 $ 10,738,079 $ 52,884,654 The accompanying notes are an integral part of this statement. 20 City of La Puente
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position
June 30, 2025
Fund Balances for Governmental Funds $ 38,905,457
Amounts reported for Governmental Activities in the Statement of Net Position are different because:

Capital assets used in governmental activities, net of depreciation, are not financial resources and, therefore, are not reported in the funds.

Capital Assets 104,113,979
Accumulated Depreciation (43,986,312)
Long-term liabilities applicable to the City's governmental activities are not due and payable in the current period and accordingly are not reported as fund liabilities.

All liabilities, both current and long-term, are reported in the Statement of Net Position. Balances at June 30, 2025 are:

City of Industry Loan Agreement (1,128,980)
Leases Payable (407,250)
2019A Sales Tax Revenue Bonds (2,965,000)
2019B Sales Tax Revenue Bonds (2,630,000)
Premium on Bonds (317,117)
2020A Certificates of Participation (7,018,550)
2022A Certificates of Participation (3,423,856)
Software Subscription Liability (587,811)
Compensated Absences (403,707)
Net Pension (Liability)/Asset related to the City's Pension plan is not reported in the governmental funds (3,149,956)
Net OPEB (Liability)/Asset related to the City's other postemployment benefits is not reported in the governmental funds (23,948)
Interest expenditures are recognized when due, and therefore, interest payable is not recorded in the governmental funds. (90,593)
Long-term receivables are not available to pay for current period expenditures and, therefore, are report as unavailable revenue in the funds. 7,146,822 Amounts for deferred inflows and deferred outflows related to the City's Net Pension Liability and Net OPEB Liability are not reported in the funds.

Deferred Outflows Related to Pensions 1,890,287
Deferred Inflows Related to Pensions (776,100)
Deferred Outflows Related to OPEB 609,128
Deferred Inflows Related to OPEB (391,874)
The internal service fund is used by management to charge the costs of equipment purchases to individual funds. The assets and liabilities of the internal service fund are included in governmental activities in the Statement of Net Position. 1,984,953 Net Position of Governmental Activities $ 87,349,572
The accompanying notes are an integral part of this statement. 21 22
23 24
25 26
27 28
City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A) Description of Reporting Entity
The City of La Puente was incorporated August 1, 1956 under the general laws of the State of California, and enjoys all the rights and privileges pertaining to “General Law” Cities. It is governed by a five-member council.

The accompanying financial statements present the City of La Puente and its component units, entities for which the City is considered to be financially accountable. Blended component units, although legally separate entities, are, in substance, part of the City’s operations. Discretely presented component units, if any, are reported in a separate column in the government-wide financial statements (see note below for description) to emphasize that they are legally separate from the City. There are no discretely presented component units presented in these financial statements.

Blended Component Units
The City of La Puente Public Financing Authority is a Joint Exercise of Powers Authority organized and existing under and by virtue of the Joint Exercise of Power Act of the Government Code of the State of California. The City and the former Community Development Commission formed the Authority by the execution of a Joint Exercise of Powers Agreement. The primary purpose of the Authority is to issue bonds and make loans to the City and former Community Development Commission. The City appoints the voting majority of the board and is able to impose its will on this component unit. There are no separate financial statements prepared for the Authority.

The La Puente Community Foundation was formed on June 25, 2019 as a Nonprofit Public Benefit Corporation to support the City of La Puente by providing funding, through grants, donations, corporate support, for charitable, cultural, recreational or educational purposes to benefit the community within the present and future boundaries of the City of La Puente. The City Council appoints the Board and is able to impose its will on this component unit. There are no separate financial statements prepared for the Foundation.

B) Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the Statement of Net Position and the Statement of Activities) report information about the reporting government as a whole, except for its fiduciary activities. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which rely to a significant extent on fees and charges for support. Likewise, the primary government (including its blended component units) is reported separately from discretely presented component units for which the primary government is financially accountable. The City has no discretely presented component units.

The Statement of Activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are expenses that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items that are properly not included among program revenues are reported instead as general revenues.
29 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued The underlying accounting system of the City is organized and operated on the basis of separate funds, each of which is considered to be 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 or expenses, as appropriate. Governmental 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.

C) Measurement Focus, Basis of Accounting, and Financial Statement Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary fund financial statements. Under the economic resources measurement focus, all assets and liabilities (whether current or noncurrent) associated with their activity are included on their balance sheets. Under the accrual basis of accounting, revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. Operating expenses for proprietary funds include the cost of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating revenues and expenses.

Nonexchange transactions, in which the City gives (or receives) value without directly receiving (or giving) equal value in exchange include property taxes, grants, entitlements, and donations. On an accrual basis, revenue from property taxes is recognized in the fiscal year which the taxes are levied. Revenue from grants, entitlements, and donations is recognized in the fiscal year in which all the eligibility requirements have been satisfied.

When both restricted and unrestricted resources are available for use, it is the City’s policy to use restricted resources first, then unrestricted resources as they are needed.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are both collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they are collected within 60 days of the end of the current period, except for certain grants which are considered available if collected within 7 months after year-end. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, and claims and judgments, are recorded only when payment is due. General capital asset acquisitions are reported as expenditures in governmental funds. Issuance of long-term debt and acquisitions under leases are reported as other financing sources.

Property taxes, sales taxes, franchise taxes, licenses, and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. Expenditure-driven grants are recognized as revenue when the qualifying expenditures have been incurred and all other eligibility requirements have been met, and the amount is received during the period or within the availability period for this revenue source. All other revenue items are considered to be measurable and available only when cash is received by the government.
30 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – Continued The proprietary and private-purpose trust funds are reported using the economic resources measurement focus and the accrual basis of accounting.

Fund Classifications
The funds designated as major funds are determined by a mathematical calculation consistent with GASB Statement No. 34, as amended. The City reports the following major governmental funds:

The General Fund is the City's primary operating fund and accounts for all financial resources of the general government, except those required to be accounted for in another fund.

The Gas Tax Fund is used account for gasoline taxes received by the City that are restricted for street maintenance, right-of-way acquisition and street construction.

The Miscellaneous Grant Fund is used to account for various grants restricted for specific projects and operations.

The City reports the following major enterprise funds:

The Sewer Assessment Fund is used to account for the repair and maintenance of the City's sewer system.

The City also reports the following fund types:

The Internal Service Fund is used to account for the replacement of City owned and operated vehicles, furniture and equipment, except for vans used in transit operations. The costs are accumulated in this fund and allocated as interfund user charges to other City departments.

The Successor Agency Private-Purpose Trust Fund accounts for the activities of the former La Puente Community Development Commission.

As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. Direct expenses have not been eliminated from the functional categories; indirect expenses and internal payments have been eliminated.

D) Cash and Cash Equivalents
For purposes of the statement of cash flows, cash equivalents are defined as short-term, highly liquid investments that are both readily convertible to known amounts of cash or so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Cash equivalents also represent the proprietary funds’ share in the cash and investment pool of the City of La Puente. Cash equivalents have an original maturity date of three months or less from the date of purchase.

E) Investments
Investments are reported in the accompanying financial statements at fair value (which represents the quoted or stated market value), except for nonparticipating certificates of deposit and investment contracts that would be reported at cost because they are not transferable and they have terms that are not affected by changes in market interest rates.

Changes in fair value that occur during a fiscal year are recognized as investment income reported for that fiscal year. Investment income includes interest earnings, changes in fair value, and any gains or losses realized upon the liquidation, maturity, or sale of investments. 31 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued The City pools cash and investments of all funds. Each fund’s share in this pool is displayed in the accompanying financial statements as cash and investments. The City pools cash from all funds in order to increase income earned through its investment program. Investment income from pooled investments is allocated to those funds which are required by law or administrative action to receive interest. Investment income is allocated on a quarterly basis based on the weighted average cash balance in each fund.

F) Capital Assets
Capital assets, which include land, structures, equipment, and infrastructure assets, are reported in the government-wide and proprietary fund financial statements. Capital assets are recorded at cost where historical records are available and at an estimated historical cost where no historical records exist. Assets purchased in excess of $5,000 are capitalized if they have an expected useful life of 2 years or more.

Infrastructure is capitalized if cost is in excess of $50,000 and it has an expected useful life of 2 years or more.

The cost of normal maintenance and repairs that do not add to the value of the asset’s lives are not capitalized.

Major capital outlay for capital assets and improvements are capitalized as projects are constructed. For debt-financed capital assets in proprietary funds, interest incurred during the construction phase is reflected in the capitalization value of the asset constructed, net of interest earned on the invested proceeds over the same period. Capital assets acquired through lease obligations are valued at the present value of future lease payments at the date acquired. Donated capital assets received prior to the implementation of GASB Statement No. 72 were recorded at fair value on the date of donation. Donated capital assets received subsequent to the implementation of GASB 72 are recorded at acquisition value as of the date received.

Capital assets used in operations are depreciated over their estimated useful lives using the straight-line method in the government-wide financial statements and in the fund financial statements of the proprietary funds. Depreciation is charged as an expense against operations and accumulated depreciation is reported on the respective statement of net position. The ranges of lives used for depreciation purposes for each capital asset class are as follows:

Buildings and Improvements 15 - 40 years
Equipment and Furniture 5 - 10 years
Infrastructure 20 - 60 years
G) Compensated Absences
In accordance with GASB Statement No. 101, a liability is recorded for unused vacation and similar compensatory leave balances since the employees’ entitlement to these balances is attributable to services already rendered, the leave accumulates, and the leave is more likely than not to be used for time off or otherwise paid in cash or settled through noncash means.

Accumulated sick leave lapses when employees leave the employ of the City and, upon separation from service, no monetary obligation exists.

H) Claims and Judgments
When it is probable that a claim liability has been incurred at year-end, and the amount of the loss can be reasonably estimated, the City records the estimated loss, net of any insurance coverage under its selfinsurance program. For governmental funds, if claims will not be liquidated from currently available resources, they are recorded only in the government-wide financial statements. 32 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued I) Receivables and Payables
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either “due to/from other funds” (i.e., the current portion of interfund loans) or “advances to/from other funds” (i.e., the non-current portion of interfund loans).

As a no-low property tax City, the City is allocated the minimum amount (6.6%) required by law. The County bills and collects the property taxes and remits them to the City in installments during the year. City property tax revenues are recognized when levied provided that the revenue is collected during the year or within 60 days of year-end. Property taxes attach as an enforceable lien on property as of January 1. Taxes are levied on July 1, and are payable in two installments on November 1 and February 1. Such taxes become delinquent on December 10 and April 10, respectively.

J) Use of Estimates
The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenditures/expenses during the reporting period.

Actual results could differ from those estimates and assumptions.

K) Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position and balance sheet for the governmental funds will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents consumption of net assets that applies to future period(s) and so will not be recognized as an outflow of resources (expense) until then. The City reports deferred outflows relating to the Net Pension Liability and also the Net OPEB Liability. In addition, the City reports deferred outflows relating to the 2016 Revenue Refunding Bonds.

In addition to liabilities, the statement of financial position and balance sheet for the governmental funds will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The City has one item, which arises only under the modified accrual basis of accounting, and others relating to the Net Pension Liability and Net OPEB Liability, which qualify for reporting in this category. Under the modified accrual basis of accounting, the item, unavailable revenues, is reported in the governmental funds balance sheet. The governmental funds report unavailable revenues from property taxes, special assessments, grant receivables, and other miscellaneous receivables. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available.

L) Fund Equity
In the government-wide, proprietary funds, and fiduciary fund financial statements, net position is classified in the following categories.
33 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued Net Investment in Capital Assets
This category groups all capital assets, including infrastructure, into one component of net position.

Accumulated depreciation and the outstanding balances of debt that are attributable to the acquisition, construction or improvement of these assets reduce this category.

Restricted Net Position
This category presents external restrictions imposed by creditors, grantors, contributors, or laws and regulations of other governments and restrictions imposed by law through constitutional provisions or enabling legislation.

Unrestricted Net Position
This category represents the net position of the City that is not externally restricted for any project or other purpose.

M) Net Position Flow Assumption
Sometimes the City will fund outlays for a particular purpose from both restricted (e.g. restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted net position and unrestricted net position in the statement of net position, a flow assumption must be made about the order in which the resources are considered to be applied.

It is the City’s policy to consider restricted net position to have been depleted before unrestricted net position.

N) Fund Balances
Fund balances in governmental funds are reported in classifications that comprise a hierarchy based primarily on the extent to which the City is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. Sometimes the City will fund outlays for a particular purpose from both restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balance).

In order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements a flow assumption must be made about the order in which the resources are considered to be applied. It is the government’s policy to consider restricted fund balance to have been depleted before using any of the components of unrestricted fund balance.

Further, when the components of unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund balance is applied last.

Nonspendable - This classification includes amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact.

Restricted - This classification includes amounts that can be spent only for specific purposes stipulated by constitution, external resource providers or through enabling legislation. 34 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued Committed - This classification includes amounts that can be used only for the specific purposes determined by a formal action or resolution of the City’s highest level of decision-making authority (City Council).

Committed amounts cannot be used for any other purpose unless the City Council removes or changes the specific use through the same type of formal action or resolution taken to establish the commitment. The City has no committed fund balances.

Assigned - This classification consists of funds that are set aside for specific purposes by the City’s highest level of decision making authority or a body or official that has been given the authority to assign funds. The City Council delegates the authority to assign fund balance to the City Manager for purposes of reporting in the annual financial statements. The City has no assigned fund balances.

Unassigned - This classification includes the residual balance for the government's general fund and includes all spendable amounts not contained in other classifications. In other funds, the unassigned classification is used only to report a deficit balance resulting from overspending for specific purposes for which amounts had been restricted, committed or assigned.

O) Leases
Lessee: The City is a lessee for noncancellable leases of equipment. The City recognizes a lease liability and an intangible right to use lease asset (lease asset) in the government wide financial statements and the internal service fund. The City recognizes lease liabilities with an initial, individual value of $5,000 or more.

At the commencement of a lease, the City initially measures the lease liability at the present value of payments expected to be made during the lease term. Subsequently, the lease liability is reduced by the principal portion of lease payments made. The lease asset is initially measured as the initial amount of the lease liability, adjusted for lease payments made at or before the lease commencement date, plus certain initial direct costs.

Subsequently, the lease asset is amortized on a straight line basis over its useful life.

Key estimates and judgments related to leases include how the City determines (1) the discount rate it uses to discount the expected lease payments to present value, (2) lease term, and (3) lease payments. • The City uses the interest rate charged by the lessor as the discount rate. When the interest rate charged by the lessor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for leases.
• The lease term includes the noncancellable period of the lease. Lease payments included in the measurement of the lease liability are composed of fixed payments and purchase option price that the City is reasonably certain to exercise.

The City monitors changes in circumstances that would require a remeasurement of its lease and will remeasure the lease asset and liability if certain changes occur that are expected to significantly affect the amount of the lease liability. Lease assets are reported with other capital assets and lease liabilities are reported with long-term debt on the statement of net position. 35 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued Lessor: The City is a lessor for a noncancellable lease of certain property for communications and other facilities. The City recognizes a lease receivable and a deferred inflow of resources in the government wide and governmental fund financial statements. At the commencement of a lease, the City initially measures the lease receivable at the present value of payments expected to be received during the lease term.

Subsequently, the lease receivable is reduced by the principal portion of lease payments received. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date. Subsequently, the deferred inflow of resources is recognized as revenue over the life of the lease term.

Key estimates and judgments include how the City determines (1) the discount rate it uses to discount the expected lease receipts to present value, (2) lease term, and (3) lease receipts. • The City uses its estimated incremental borrowing rate as the discount rate for leases. • The lease term includes the noncancellable period of the lease. Lease receipts included in the measurement of the lease receivable is composed of fixed payments from the lessee.

The City monitors changes in circumstances that would require a remeasurement of its lease, and will remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the lease receivable.

The lease of the property for communications facilities is for eight years and the City will receive monthly payments of approximately $3,500. The lease of other facilities is for approximately three years and the City will receive monthly payments of approximately $3,400. The City recognized $63,565 in lease revenue, including interest revenue during the current fiscal year related to these leases. As of June 30, 2025, the City’s receivable for lease payments was $215,579. Also, the City has a deferred inflow of resources associated with this lease that will be recognized as revenue over the lease term. As of June 30, 2025, the balance of the deferred inflow of resources was $215,579.

P) Pensions
For purposes of measuring the net pension liability and deferred outflows/inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the City of La Puente’s California Public Employees’ Retirement System (CalPERS) plan (Plan) and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis as they are reported by CalPERS.

For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.

Q) Other Postemployment Benefits (OPEB)
For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s plan (OPEB Plan) and additions to/deductions from the OPEB Plan’s fiduciary net position have been determined on the same basis.
36 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value. Generally accepted accounting principles require that the reported results must pertain to liability and asset information within curtained defined timeframes. For this report, the following timeframes are used:

Valuation Date June 30, 2023
Measurement Date June 30, 2024
Measurement Period July 1, 2023 to June 30, 2024
2) CASH AND INVESTMENTS
Cash and investments at June 30, 2025 are summarized as follows:

Investments Authorized by the California Government Code and the City’s Investment Policy The table below identifies the investment types that are authorized for the City by the City's investment policy. The table also identifies certain provisions of the California Government Code (or the City's investment policy, where more restrictive) that address interest rate risk, credit risk, and concentration of credit risk.

Statement of Net Position:

Cash and Investments $ 33,170,105
Cash and Investments with Fiscal Agent 548
Restricted Cash and Investments 694,478
Statement of Fiduciary Net Position:

Cash and Investments 656,607
Cash and Investments with Fiscal Agent 138,066
Total Cash and Investments $ 34,659,804
Petty Cash $ 2,200
Deposits with Financial Institutions 1,397,047
Investments 33,260,557
Total Cash and Investments $ 34,659,804
Maximum Maximum
Authorized Maximum Allowable Investment
Investment Type Maturity Investment In One Issuer
U.S. Treasury Obligations 5 years None None
U.S. Agency Securities 5 years None None
Banker's Acceptances 180 days 15% 2%
Bank Deposits N/A $1,000,000 None
Medium Term Notes 5 years 30% 5%
Negotiable Certificates of Deposit 5 years 30% $250,000 Certificates of Deposit 5 years 30% $250,000
Local Agency Obligations 5 years 30% None
Money Market Funds N/A 15% 5%
Local Agency Investment Fund (LAIF) N/A None $65,000,000 37 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
2) CASH AND INVESTMENTS - Continued
Disclosures Relating to Interest Rate Risk
Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment.

Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the City manages its exposure to this risk is by purchasing a combination of shorter-term and longer-term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity over time as necessary to provide the cash flow and liquidity needed for operations. Information about the sensitivity of the fair values of the City’s investments to market interest rate fluctuations is provided by the following table that shows the distribution of the City’s investments by maturity:

Disclosures Relating to Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating required by (where applicable) the California Government Code or the City's investment policy and the actual rating as of year-end for each investment type.

Remaining Maturity (in Months)
12 Months 13 to 24 25-60
Investment Type or Less Months Months Fair Value
US Treasury Obligations $ 2,206,518 $ - $ 2,206,518 - $ Federal Farm Credit Bank 493,648 2,413,355 249,816 3,156,819 Federal Home Loan Bank 3,175,628 730,005 - 3,905,633
Federal Home Loan Mortgage Corp. 499,073 - 1,983,688 2,482,761 Federal National Mortgage Assoc. 1,703,674 243,445 1,514,943 3,462,062 Negotiable Certificates of Deposit 1,953,834 4,845,208 2,216,155 9,015,197 LAIF 8,341,247 - - 8,341,247
Money Market Mutual Funds 551,706 - - 551,706
Held by Fiscal Agent:

Money Market Mutual Funds 138,614 - - 138,614
Total $ 19,063,942 $ 8,232,013 $ 5,964,602 $ 33,260,557 Rating as of Year End
Total Minimum
Investment Type Investment Legal Rating AAA/AA A and A-1 Unrated US Treasury Obligations $ 2,206,518 $ 2,206,518 $ - $ - Federal Farm Credit Bank 3,156,819 N/A 3,156,819 - -
Federal Home Loan Bank 3,905,633 N/A 3,905,633 - -
Federal Home Loan Mortgage Corp. 2,482,761 N/A 2,482,761 - - Federal National Mortgage Assoc. 3,462,062 N/A 3,462,062 - - Negotiable Certificates of Deposit 9,015,197 N/A - - 9,015,197 LAIF 8,341,247 N/A - - 8,341,247
Money Market Mutual Fund 551,706 N/A - - 551,706
Held by Bond Trustee:

Money Market Mutual Fund 138,614 N/A 138,614 - -
Total $ 33,260,557 $ 15,352,407 $ 17,908,150 - $
38 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
2) CASH AND INVESTMENTS - Continued
Concentration of Credit Risk
At June 30, 2025, the City had no investments in any one issuer (other than LAIF) that represent 5% or more of total City investments, except for investments in federal agency securities.

Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The California Government Code and the City’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits, other than the following provision for deposits: The California Government Code requires that a financial institution secure deposits made by state or local government units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the governmental unit). The fair value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the public agencies.

California law also allows financial institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits.

As of June 30, 2025, no deposits with financial institutions in excess of federal depository insurance limits were held in uncollateralized accounts.

The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., brokerdealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code and the City’s investment policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for investments. With respect to investments, custodial credit risk generally applies only to direct investments in marketable securities.

Custodial credit risk does not apply to a local government’s indirect investment in securities through the use of mutual funds or government investment pools (such as LAIF). As of June 30, 2025, none of the City’s investments were held by the broker-dealer (counterparty) that was used by the City to purchase the securities.

Fair Value
The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset.

Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs.

The City has the following recurring fair value measurements as of June 30, 2025:
US Treasury Obligations of $2,206,518 are valued using a matrix pricing model (Level 2 inputs). Federal Agency securities of $13,007,275 are valued using a matrix pricing model (Level 2 inputs). Negotiable Certificates of Deposit of $9,015,197 are valued using a matrix pricing model (Level 2 inputs). 39 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
2) CASH AND INVESTMENTS - Continued
Investment in State Investment Pool
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. The fair value of the Entity’s investment in this pool is reported in the accompanying financial statements at amounts based on the City’s pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis. Information regarding LAIF’s and the City’s exposure to risk (credit, market, or legal) is not currently available.
3) INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS
Amounts Due To and Due From Other Funds
As of June 30, 2025, the General Fund is reporting $1,555,522 as due from the other governmental funds. These outstanding balances between funds result from temporary borrowings to cover operating deficits.

Long-term Advances
As of June 30, 2025, the City’s General Fund had advanced to the former Community Development Commission (CDC) $15,580,356 (net of repayments), including interest receivable of $6,689,766, to assist in redevelopment activities. In June 2011, Assembly Bill 26 (1st extraordinary session) dissolved the former CDC, effective (after some litigation on the matter) February 1, 2012.

On April 26, 2013, the Department of Finance allowed the loan to be placed on the Recognized Obligation Payment Schedule (ROPS) as an enforceable obligation.

The principal balance of the receivable of $8,890,590 accrues simple interest of 4% based on the Last and Final ROPS, approved by the Department of Finance, at an interest rate of 4% throughout the remainder of the payment period. Repayment of the advance by the Successor Agency is contingent upon excess property taxes received by the Successor Agency after paying all other enforceable obligations.

The entire principal portion of the receivable is included in non-spendable fund balance in the General Fund and the accrued interest receivable is included in deferred inflows as unavailable revenue.

Transfers In and Transfers Out
During the 2024-25 fiscal year, the following interfund transfers were made:

Other Internal
Governmental Service
Transfers Out Funds Fund Total
General Fund $ 956,749 $ 956,749 - $
Miscellaneous Grants - 9,432 9,432
Other Governmental Funds 548,325 - 548,325
Total $1,505,074 $ 9,432 $1,514,506
Transfers In
40 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
3) INTERFUND RECEIVABLES, PAYABLES AND TRANSFERS - Continued The General Fund transferred $956,749 to the Other Governmental Funds for the Housing Successor Fund Administration cost; debt service payments for the 2020A Certificates of Participation, 2022A Certificates of Participation, and other project costs. The Measure M and Measure R Funds transferred a total of $548,325 to the Measure M and Measure R Debt Service Funds to pay loan and bond payments. The Miscellaneous Grants Fund transferred $9,432 to the Internal Service Fund for project costs. 4) LOANS RECEIVABLE
The City uses Housing and Community Development Block Grant, Cal-Home, and Permanent Local Housing Allocation (PLHA) Grant funds to provide deferred payment housing rehabilitation loans to eligible applicants.

Such loans are made to low- and moderate-income persons to improve or rehabilitate residences.

Loan repayments are deferred until homes are sold or change title. The City accounts for this program in the Special Revenue CDBG, Cal-Home, and PLHA Grant Funds. Rehabilitation loans receivable of $1,728,593 at June 30, 2025 are reported in the accompanying financial statements as loans receivable. 5) CAPITAL ASSETS
The following is a summary of changes in capital assets for the 2024-25 fiscal year:

Beginning Ending
Governmental Activities: Balance Additions Deletions Balance Capital Assets, Not Depreciated:

Land $ 4,147,922 $ - $ 4,147,922 - $
Construction in Progress 557,052 1,485,812 (434,251) 1,608,613 Total Capital Assets, Not Depreciated 4,704,974 1,485,812 (434,251) 5,756,535 Capital Assets Being Depreciated:

Buildings and Improvements 38,009,426 - - 38,009,426
Equipment and Furniture 4,218,797 229,770 (152,290) 4,296,277 Infrastructure 56,219,515 295,632 - 56,515,147
Intangible Right-to-use Assets 1,001,619 867,529 (106,005) 1,763,143 Software Subscription Assets 1,032,676 - - 1,032,676
Total Capital Assets, Depreciated 100,482,033 1,392,931 (258,295) 101,616,669 Less Accumulated Depreciation:

Buildings and Improvements (16,638,214) (1,445,638) - (18,083,852) Equipment and Furniture (1,854,650) (373,059) 111,616 (2,116,093) Infrastructure (23,270,063) (956,852) - (24,226,915)
Intangible Right-to-use Assets (229,524) (377,772) 52,194 (555,102) Software Subscription Assets (206,535) (206,535) - (413,070) Total Accumulated Depreciation (42,198,986) (3,359,856) 163,810 (45,395,032) Net Capital Assets, Depreciated 58,283,047 (1,966,925) (94,485) 56,221,637 Governmental Activities Capital Assets 62,988,021 $ $ (481,113) $ (528,736) $ 61,978,172 41 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
5) CAPITAL ASSETS - Continued
Depreciation expense was charged to functions/programs of the governmental activities as follows:
6) LONG-TERM LIABILITIES
The following is a summary of long-term liability transactions for the year ended June 30, 2025:

Beginning Ending
Business-type Activities: Balance Additions Deletions Balance Capital Assets Being Depreciated:

Sewer Collection System $ 14,659,082 $ 619,835 $ 15,278,917 - $ Total Capital Assets, Depreciated 14,659,082 619,835 - 15,278,917 Less Accumulated Depreciation:

Sewer Collection System (2,207,348) (249,483) - (2,456,831) Net Capital Assets, Depreciated 12,451,734 370,352 - 12,822,086 Business-type Activities Capital Assets $ 12,451,734 $ 370,352 $ 12,822,086 - $ General Government $ 171,955
Public Works 1,107,267
Public Safety 206,535
Recreation/Senior Services 1,415,506
Community Development 22,363
Capital Assets held by internal service funds are charged to the various functions based on usage of the assets 436,230 Total Depreciation Expense - Governmental Activities $ 3,359,856 Beginning Ending Due Within
Balance Additions Deletions Balance One Year
Governmental Activities:

Loan Payable from Direct Borrowing:

City of Industry Loan Agreement 1,178,379 $ $ 49,399 - $ $ 1,128,980 $ 49,562 Leases Payable 799,764 867,529 410,327 1,256,966 373,086 Software Subscription Liability 805,686 - 217,875 587,811 206,516 2019A Sales Tax Revenue Bonds 3,125,000 - 160,000 2,965,000 170,000 2019B Sales Tax Revenue Bonds 2,775,000 - 145,000 2,630,000 150,000 Premium on Bonds 339,768 - 22,651 317,117 -
2020A Certificates of Participation 7,417,083 - 398,533 7,018,550 423,182 2022A Certificates of Participation 3,573,856 - 150,000 3,423,856 160,000 Net Pension Liability/(Asset) 3,250,096 - 100,140 3,149,956 - Net OPEB Liability/(Asset) 206,891 - 182,943 23,948 -
Compensated Absences 396,969 6,738 - 403,707 -
Total $ 23,868,492 $ 874,267 $ 1,836,868 $ 22,905,891 $ 1,532,346 42 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
6) LONG-TERM LIABILITIES – Continued
City of Industry Loan Agreement
In October of 2015, the City entered into an agreement to borrow funds from the City of Industry to finance construction of a sound wall and other improvements on Valley Boulevard. The City of Industry has agreed to lend the City of La Puente up to $5,952,908 for these improvements, at a simple interest rate of .33%. As of June 30, 2019, the City had borrowed $1,422,945 on this loan, net of $378,818 in principal payments. The agreement provides for annual loan repayments of $208,742, commencing November 1, 2017. However, during the 2018-19 fiscal year, the City decided not to draw down any additional funds on this loan. A new amortization schedule was developed and approved by the City of Industry in October 2019. The following represents the future debt service requirements:

Leases Payable
The City has entered into various lease agreements for the use of vehicles, equipment and facilities. The initial lease liability of all outstanding leases was $1,811,328. As of June 30, 2025, the value of the lease liability was $1,256,966. The leases have interest rates ranging from 3.9% to 5.25%. The estimated useful lives range from 3 to 5 years. The value of the right-to-use assets at the end of the current fiscal year was $1,208,041. The following represents the future debt service requirements:

Beginning Ending Due Within
Balance Additions Deletions Balance One Year
Business-type Activities:

Bonds payable from Direct Borrowing:
2016 Sewer Refunding Bonds $ 6,595,000 $ 390,000 - $ $ 6,205,000 $ 400,000 Total $ 6,595,000 $ 390,000 - $ $ 6,205,000 $ 400,000
Fiscal Year Ending
June 30, Principal Interest Total
2026 $ 49,562 $ 3,725 $ 53,287
2027 49,725 3,562 53,287
2028 49,889 3,398 53,287
2029 50,054 3,233 53,287
2030 50,219 3,068 53,287
2031-2035 253,592 12,843 266,435
2036-2040 257,803 8,632 266,435
2041-2045 262,086 4,349 266,435
2046-2047 106,050 524 106,574
Totals $ 1,128,980 $ 43,334 $ 1,172,314
43 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
6) LONG-TERM LIABILITIES – Continued
Software Subscription Liability
The City of La Puente has entered into subscription-based information technology arrangement (SBITA) with vendors for various City software systems. The systems are discounted at a rate of 5.5%. For the year ended June 30, 2025, the City reported a SBITA liability in the amount of $587,811. For the year ended June 30, 2025, there was a principal reduction of $217,875. As of June 30, 2025, the net SBITA right-to-use intangible asset was reported in the amount of $619,606. The future payments on the SBITA liability are as follows:
2019 Sales Tax Revenue Bonds Series A and B
In November of 2019, the La Puente Financing Authority (a component unit of the City of La Puente) issued $3,910,000 2019 Series A Bonds (2019A) and $3,470,000 2019 Series B Bonds (2019B). Proceeds of the 2019A Bonds were used to finance certain transportation projects of the City of La Puente, purchase a reserve surety for the bonds, and pay issuance costs. Proceeds of the 2019B Bonds were used to finance costs associated with certain transportation projects of the City, purchase a reserve surety for the bonds, and pay issuance costs.

The 2019A Bonds mature in amounts from $140,000 to $255,000 annually from 2020 to 2039, with interest payments ranging from 2.75% to 4.0% payable semi-annually on June 1 and December 1 of each year. The 2019B Bonds mature in amounts from $125,000 to $225,000 annually from 2020 to 2039, with interest payments ranging from 2.75% to 4.0% payable semi-annually on June 1 and December 1 of each year. The 2019A Bonds are secured by pledged Measure M revenues that are derived from a retail transactions and use tax (Measure M Sales Tax) imposed in the County of Los Angeles.

Fiscal Year Ending
June 30, Principal Interest Total
2026 $ 373,086 $ 26,356 $ 399,442
2027 376,707 18,364 395,071
2028 315,253 10,187 325,440
2029 141,795 3,493 145,288
2030 50,125 514 50,639
Totals $ 1,256,966 $ 58,914 $ 1,315,880
Fiscal Year Ending
June 30, Principal Interest Total
2026 $ 206,516 $ 35,984 $ 242,500
2027 195,750 46,750 242,500
2028 185,545 56,955 242,500
Totals $ 587,811 $ 139,689 $ 727,500
44 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
6) LONG-TERM LIABILITIES – Continued
The City has pledged the Measure M revenues to the payment of the 2019A Bonds pursuant to a Pledge Agreement dated November 1, 2019 by and between the City and Authority. The 2019B Bonds are secured by the pledged Measure R revenues that are derived from a retail transactions and use tax imposed in the County of Los Angeles. The City has pledged the Measure R revenues to the payment of the 2019B Bond pursuant to a Pledge Agreement dated November 1, 2019 by and between the City and Authority.

Pledged Measure M revenues for the 2019A Bonds for subsequent fiscals through 2039 are estimated at $5 million. This represents approximately 45% of the total Measure M revenues. The pledged Measure M revenues for the 2024-25 fiscal year were $690,723. Pledged Measure R revenues for the 2019B Bonds for subsequent fiscal years through 2039 are estimated at $4.4 million. This represents approximately 45% of total Measure R revenues. The pledged Measure R revenues for the 2024-25 fiscal year were $609,659. Future debt service requirements on the 2019A and 2019B Bonds are as follows:
2020 Certificates of Participation, Series A
On December 1, 2020, the City (Lessee) entered into a lease agreement (Lease) with the Public Property Financing Corporation of California (Lessor), whereby the Lessor has agreed to finance all or a portion of the Lessee’s outstanding pension and/or OPEB liabilities, and the Lessee has agreed to lease certain property from the Lessor; and, the Lessee and the Lessor authorized the execution and delivery of $8,517,708 in certificates of participation (Certificates), each evidencing and representing an undivided and proportionate interest of the Certificate holders in the lease payments to be made by the Lessee under the Lease.

Fiscal Year Ending
June 30, Principal Interest Total
2026 $ 170,000 $ 94,237 $ 264,237
2027 175,000 87,438 262,438
2028 180,000 80,437 260,437
2029 190,000 73,238 263,238
2030 195,000 65,637 260,637
2031-2035 1,075,000 236,538 1,311,538
2036-2039 980,000 68,925 1,048,925
Totals $ 2,965,000 $ 706,450 $ 3,671,450
2019A Measure M Bonds
Fiscal Year Ending
June 30, Principal Interest Total
2026 $ 150,000 $ 83,600 $ 233,600
2027 155,000 77,600 232,600
2028 160,000 71,400 231,400
2029 170,000 65,000 235,000
2030 175,000 58,200 233,200
2031-2035 950,000 209,250 1,159,250
2036-2039 870,000 61,025 931,025
Totals $ 2,630,000 $ 626,075 $ 3,256,075
2019B Measure R Bonds
45 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
6) LONG-TERM LIABILITIES – Continued
The net proceeds obtained through the execution, sale and delivery of the Certificates were deposited with a Trustee under a Trust Agreement and used in part by the Lessor to finance all or a portion of the Lessee’s outstanding pension and/or OPEB liabilities on behalf of the Lessee. The Lessee is required to make lease payments at least equal to the fair rental value of the leased property in amounts sufficient to pay the principal and interest components evidenced and represented by all outstanding Certificates. Interest (3.05% per annum) is payable on April 1 and October 1 of each year, commencing April 1, 2021. The following represents the future debt service requirements for the Certificates:
2022 Certificates of Participation, Series A
On January 1, 2022, the City (Lessee) entered into a lease agreement (Lease) with the Public Property Financing Corporation of California (Lessor), whereby the Lessor has agreed to finance certain energy efficiency and solar PV improvements for the City, and the Lessee has agreed to lease certain property from the Lessor; and, the Lessee and the Lessor authorized the execution and delivery of $3,758,856 in certificates of participation (Certificates), each evidencing and representing an undivided and proportionate interest of the Certificate holders in the lease payments to be made by the Lessee under the Lease.

The net proceeds obtained through the execution, sale and delivery of the Certificates were deposited with a Trustee under a Trust Agreement. The Lessee is required to make lease payments at least equal to the fair rental value of the leased property in amounts sufficient to pay the principal and interest components evidenced and represented by all outstanding Certificates. Interest (2.31% per annum) is payable on October 1 and April 1 of each fiscal year, commencing October 1, 2022.

The following represents the future debt service requirements for the Certificates:

Fiscal Year Ending
June 30, Principal Interest Total
2026 $ 423,182 $ 207,612 $ 630,794
2027 448,833 194,314 643,147
2028 475,522 180,218 655,740
2029 503,284 165,291 668,575
2030 532,159 149,500 681,659
2031-2035 3,135,647 477,929 3,613,576
2036-2037 1,499,923 46,324 1,546,247
Totals $ 7,018,550 $ 1,421,188 $ 8,439,738
2020A Certificates of Participation
46 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
6) LONG-TERM LIABILITIES – Continued
2016 Sewer Revenue Refunding Bonds
In August of 2016, the La Puente Financing Authority (a component unit of the City of La Puente) issued $9,340,000 in Sewer Revenue Refunding Bonds to refund the 2007 Sewer Revenue Bonds. Proceeds from the 2016 bonds were placed in escrow to refund in full the 2007 bonds, and to pay costs of issuance. As a result, the 2007 bonds are considered defeased and the liability has been removed from these financial statements.

The 2016 bonds mature in amounts from $315,000 to $565,000 annually from 2017 to 2038, with interest payments of 2.93% payable semi-annually on June 1 and December 1 of each year. The bonds were issued to provide funds to construct improvements for the City’s sewer system. The bonds are payable from and secured by the Authority’s pledge under the indenture of that portion of “Revenues” necessary to pay debt service on the bonds and any parity bonds issued under the indenture. “Revenues” are derived of installment payments to be made by the City pursuant to an Installment Sale Agreement dated as of November 1, 2007, between the City and the Authority. Installment payments are payable from net revenues, defined generally as gross revenues received from the sewer system, less maintenance and operation costs.

Future debt service requirements on the 2016 Sewer Revenue Refunding Bonds are as follows:

Pledged revenues for subsequent fiscal years through 2038 are estimated at $11.0 million. This represents approximately 48% of the total revenues from the sewer system. The pledged net revenues for the 2024-25 fiscal year amounted to approximately $902,000, while the debt service requirements on the related debt were approximately $577,000.

Fiscal Year Ending
June 30, Principal Interest Total
2026 $ 160,000 $ 77,243 $ 237,243
2027 170,000 73,431 243,431
2028 180,000 69,389 249,389
2029 195,000 65,058 260,058
2030 205,000 60,438 265,438
2031-2035 1,145,000 225,266 1,370,266
2036-2040 1,368,856 71,491 1,440,347
Totals $ 3,423,856 $ 642,316 $ 4,066,172
2022A Certificates of Participation
Fiscal Year Ending
June 30, Principal Interest Total
2026 $ 400,000 $ 175,947 $ 575,947
2027 410,000 164,080 574,080
2028 420,000 151,921 571,921
2029 435,000 139,395 574,395
2030 450,000 126,430 576,430
2031-2035 2,445,000 424,484 2,869,484
2036-2038 1,645,000 73,323 1,718,323
Totals $ 6,205,000 $ 1,255,580 $ 7,460,580
47 48
City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
7) RISK MANAGEMENT - Continued
Description of Self-Insurance Pool Pursuant to Joint Powers Agreement The Authority is composed of 126 California public entities and is organized under a joint powers agreement pursuant to California Government Code §6500 et seq. The purpose of the Authority is to arrange and administer programs for the pooling of self-insured losses, to purchase excess insurance or reinsurance, and to arrange for group purchased insurance for property and other lines of coverage. The Authority began covering claims of its members in 1978. Each member government has an elected official as its representative on the Board of Directors. The Board operates through a nine-member Executive Committee.

Self-Insurance Programs of the Authority
Each member pays an annual contribution at the beginning of the coverage period. The total funding requirement for primary self-insurance programs is based on an actuarial analysis. Costs are allocated to individual agencies based on payroll and claims history, relative to other members of the risk-sharing pool.

Liability
Claims are pooled separately between police and general government exposures. (1) The payroll of each member is evaluated relative to the payroll of other members. A variable credibility factor is determined for each member, which establishes the weight applied to payroll and the weight applied to losses within the formula. (2) The first layer of losses includes incurred costs up to $100,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the first layer. (3) The second layer of losses includes incurred costs from $100,000 to $500,000 for each occurrence and is evaluated as a percentage of the pool’s total incurred costs within the second layer. (4) Incurred costs from $500,000 to $50 million, are distributed based on the outcome of cost allocation within the first and second loss layers.

The overall coverage limit for each member, including all layers of coverage, is $50 million per occurrence. Subsidence losses have a sub-limit of $50 million per occurrence. The coverage structure is composed of a combination of pooled self-insurance, reinsurance, and excess insurance. Additional information concerning the coverage structure is available on the Authority’s website:
https://cjpia.org/coverage/risk-sharing-pools/.

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

For 2024-25 the Authority’s pooled retention is $1 million per occurrence, with reinsurance to statutory limits under California Workers’ Compensation Law. Employer’s Liability losses are pooled among members to $1 million. Coverage from $1 million to $5 million is purchased as part of a reinsurance policy, and Employer’s Liability losses from $5 million to $10 million are pooled among members. 49 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
7) RISK MANAGEMENT - Continued
Purchased Insurance
Pollution Legal Liability Insurance
The City of La Puente participates in the pollution legal liability insurance program which is available through the Authority. The policy covers sudden and gradual pollution of scheduled property, streets, and storm drains owned by the City of La Puente. Coverage is on a claims-made basis. There is a $250,000 deductible. The Authority has an aggregate limit of $20 million.

Property Insurance
The City of La Puente participates in the all-risk property protection program of the Authority. This insurance protection is underwritten by several insurance companies. City of La Puente property is currently insured according to a schedule of covered property submitted by the City of La Puente to the Authority. City of La Puente property currently has all-risk property insurance protection in the amount of $41,684,000. There is a $10,000 deductible per occurrence except for non-emergency vehicle insurance which has a $2,500 deductible.

Crime Insurance
The City of La Puente purchases crime insurance coverage in the amount of $1,000,000 with a $2,500 deductible. The fidelity coverage is provided through the Authority.

Special Event Tenant User Liability Insurance
The City of La Puente further protects against liability damages by requiring tenant users of certain property to purchase low-cost tenant user liability insurance for certain activities on agency property. The insurance premium is paid by the tenant user and is paid to the City of La Puente according to a schedule. The City of La Puente then pays for the insurance. The insurance is facilitated by the Authority.

Adequacy of Protection
During the past three fiscal years, none of the above programs of protection experienced settlements or judgments that exceeded pooled or insured coverage. There were also no significant reductions in pooled or insured liability coverage in 2024-25.

Claims and Judgments
The City accounts for uninsured, material claims and judgments and associated legal and administrative costs when it is probable that the liability claim has been incurred and the amount of the loss can be reasonably estimated. Included therein are claims incurred but not reported, which consists of (a) known loss events expected to be presented as claims later, (b) unknown loss events that are expected to become claims, and (c) expected future development on claims already reported. This is based upon historical actual results that have established a reliable pattern supplemented by specific information about current matters. Small dollar claims and judgments are recorded as expenditures when paid.
50 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
8) PENSION PLAN
General Information about the Pension Plan
Plan Description – All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing Multiple-Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees’ Retirement System (CalPERS.) The Plan consists of individual rate plans (benefit tiers) within a miscellaneous risk pool. Plan assets may be used to pay benefits for any employer rate plan of the miscellaneous pool. Accordingly, rate plans within the miscellaneous pool are not separate plans under GASB Statement No. 68. Individual employers may sponsor more than one rate plan in the miscellaneous pool. The City sponsors two rate plans. Benefit provisions under the Plan are established by State statute and City resolution. CalPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.

Benefits Provided – The Plan is a cost-sharing multiple-employer defined benefit pension plan administered by the California Public Employees’ Retirement System (CalPERS). A full description of the pension plan benefit provisions, assumptions for funding purposes but not accounting purposes, and membership information is listed in the June 30, 2023 Annual Actuarial Valuation Report. Details of the benefits provided can be obtained in Appendix B of the June 30, 2023 actuarial valuation report. This report is a publicly available valuation report that can be obtained at CalPERS’ website under Forms and Publications. The rate plan provisions and benefits in effect at June 30, 2025, are summarized as follows:

Contributions – Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for the Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.

Beginning in fiscal year 2016, CalPERS collects employer contributions for the Plan as a percentage of payroll for the normal cost portion as noted in the rates above and as a dollar amount for contributions toward the unfunded liability. The dollar amounts are billed on a monthly basis. The City’s contributions to the Plan for the year ended June 30, 2025 were $598,055.

Miscellaneous Misc. PEPRA
Prior to On or after
Hire date January 1, 2013 January 1, 2013
Benefit formula 2.5% @ 55 2% @ 62
Benefit vesting schedule 5 years service 5 years service Benefit payments monthly for life monthly for life
Retirement age 55 62
Monthly benefits, as a % of eligible compensation Last 12 Mos. of Service Last 36 Mos. of Service Required employee contribution rates 8% 8.25%
Required employer contribution rates 15.61% + $106,771 8.63% + $6,116 51 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
8) PENSION PLAN – Continued
Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources for Pensions As of June 30, 2025, the City reported a net pension liability/(asset) of $3,149,956 for its proportionate share of the net pension liability. The City’s net pension liability/(asset) for the Plan is measured as the proportionate share of the net pension liability. The net pension liability of the Plan is measured as of June 30, 2024, and the total pension liability for the Plan used to calculate the net pension liability/(asset) was determined by an actuarial valuation as of June 30, 2023 rolled forward to June 30, 2024 using standard update procedures.

The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined. The City’s proportionate share of the Plan’s net pension liability as of June 30, 2025 and 2024 was as follows:

For the year ended June 30, 2025, the City recognized a pension expense/(credit) of $1,319,672. At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

The $598,055 reported as deferred outflows related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2026. Other amounts reported as deferred outflows and deferred inflows related to pensions will be recognized as pension expense as follows:

Proportion - June 30, 2024 0.06500%
Proportion - June 30, 2025 0.06513%
Change - Increase (Decrease) 0.00013%
Deferred Deferred
Outflows Inflows
Pension contributions subsequent to measurement date 598,055 $ $ - Differences between actual and expected experience 272,343 10,627 Changes in assumptions 80,960 -
Differences between employer's contributions
and proportionate share of contributions - 765,473
Change in employer's proportions 757,590 -
Net differences between projected and actual
earnings on plan investments 181,339 -
Total $ 1,890,287 $ 776,100
Year Ending
June 30,
2026 $ 338,882
2027 285,950
2028 (46,557)
2029 (62,143)
2030 -
Thereafter -
52 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
8) PENSION PLAN - Continued
Actuarial Assumptions – The total pension liabilities in the June 30, 2023 actuarial valuations were determined using the following actuarial assumptions:

The mortality table used was developed based on CalPERS-specific data. The probabilities of mortality are based on the 2021 CalPERS Experience Study for the period from 2001 to 2019. Pre-retirement and Post-retirement mortality rates include generational mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries. For more details on this table, please refer to the CalPERS Experience Study and Review of Actuarial Assumptions report from November 2021 that can be found on the CalPERS website.

Long-term Expected Rate of Return - The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations as well as the expected pension fund cash flows. Using historical returns of all the funds’ asset classes, expected compound returns were calculated over the short-term (first 10 years) and the long-term (11-60 years) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses.

The expected real rates of return by asset class are as follows:

Valuation date June 30, 2023
Measurement date June 30, 2024
Actuarial cost method entry-age normal
Actuarial assumptions:

Discount rate 6.90%
Inflation 2.30%
Projected salary increase (1)
Investment rate of return 6.90%
Mortality (2)
(1) Depending on age, service and type of employment
(2) Derived using CalPERS’ Membership Data for all Funds. 53 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
8) PENSION PLAN - Continued
Discount Rate – The discount rate used to measure the total pension liability for PERF C was 6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

Sensitivity of the Proportionate Share of the Net Pension Liability to Changes in the Discount Rate – The following presents the City’s proportionate share of the net pension liability/(asset) for the Plan, calculated using the discount rate for the Plan, as well as what the City’s proportionate share of the net pension liability/(asset) would be if it were calculated using a discount rate that is 1-percentage point lower or 1- percentage point higher than the current rate:

Pension Plan Fiduciary Net Position – Detailed information about the Plan’s fiduciary net position is available in the separately issued CalPERS financial reports.

Payable to the Pension Plan – At June 30, 2025, the City reported no payables due to the pension plan, for outstanding contributions.

Assumed
Asset Real Return
Asset Class Allocation Real Return (1,2)
Global Equity - Cap-weighted 30% 4.54%
Global Equity - Non-Cap-weighted 12% 3.84%
Private Equity 13% 7.28%
Treasury 5% 0.27%
Mortgage-backed securities 5% 0.50%
Investment Grade Corporates 10% 1.56%
High Yield 5% 2.27%
Emerging Market Debt 5% 2.45%
Private Debt 5% 3.57%
Real Assets 15% 3.21%
Leverage -5% -0.59%
(1) An expected inflation of 2.30% used for this period. (2) Figures are based on the 2021 Asset Liability Management Study 1% Decrease 5.90%
Net Pension Liability $ 7,153,146
Current Discount Rate 6.90%
Net Pension Liability $ 3,149,956
1% Increase 7.90%
Net Pension Liability $ (145,259)
54 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
9) OTHER POSTEMPLOYMENT BENEFITS
Plan Description – The City has established the La Puente Retiree Healthcare Plan (LPRHCP), and participates in an agent multiple-employer defined benefit retiree healthcare plan. A separate financial report is not prepared for the LPRHCP.

Benefits Provided – Under the LPRHCP, retirees are eligible for benefits as follows:
*Those hired prior to 8/1/08 require only CalPERS retirement to receive 100% of employer contribution.

Employees Covered by Benefit Terms – As of the June 30, 2023 actuarial valuation, the following current and former employees were covered by the benefit terms under the LPRHCP:

Contributions – The LPRHCP plan and its contribution requirements are established by Memoranda of Understanding with the applicable employee bargaining units and may be amended by agreements between the City and the bargaining units. The annual contribution is based on the actuarially determined contribution.

For the fiscal year ended June 30, 2025, the City’s cash contributions for retiree health benefits was $229,084.

In a prior fiscal year, the City created a trust account with the California Public Employers’ Retiree Benefit Trust (CERBT), an agent multiple-employer defined benefit plan. The CERBT issues a publicly available report that can be found on the CalPERS website.

Net OPEB Liability - The City’s net OPEB liability was measured as of June 30, 2023 and the total OPEB liability used to calculate the net OPEB liability was determined by an actuarial valuation dated June 30, 2023, based on the following actuarial methods and assumptions:

Valuation Date June 30, 2023
Actuarial Cost Method Entry Age Actuarial Cost
Mortality 2021 CalPERS Active Mortality for Miscellaneous Employees Age at Retirement 52
Health Care Trend Rate 4.00%
Inflation Rate 2.50%
Salary Changes 2.75%
Discount Rate 6.75%
Eligible Employees
Benefit types provided Medical, dental, vision
Duration of Benefits Lifetime
Required Service 5 years*
Minimum Age 50
Dependent Coverage Yes
City Contribution 50% of employer contribution at 10
years of service for medical plus 5%
per additional year to 100% at 20 or
more years of service
City Cap $2,000 per year in dental and vision
expenses
Retirees or spouses of retirees
currently receiving benefits 23
Active employees 48
71 55
City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
9) OTHER POSTEMPLOYMENT BENEFITS - Continued
The long-term expected rate of return on OPEB plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of OPEB plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighing the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table:

Discount Rate – The discount rate used to measure the total OPEB liability was 6.75 percent. The projection of cash flows used to determine the discount rate assumed that City contributions will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries. Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEB liability.

Changes in the Net OPEB Liability
Sensitivity of the Net OPEB Liability/(Asset) to changes in the Discount Rate - The following presents the net OPEB liability/(asset) of the City if it were calculated using a discount rate that is 1-percentage-point lower or 1-percentage-point higher than the current discount rate:

Target Long-Term
Asset Class Allocation Rate of Return
All Equities 59% 7.545%
All Fixed Income 25% 4.250%
Real Estate Invesment Trusts 8% 7.250%
All Commodities 3% 7.545%
Treasury Inflation Protected Securities (TIPS) 5% 3.000% Total 100.00%
Total OPEB Plan Fiduciary Net OPEB
Liability (TOL) Net Position Liability/(Asset)
Balance at June 30, 2023 $ 4,605,376 $ 4,398,485 $ 206,891 Changes in the year:

Service cost 227,472 - 227,472
Interest on the total OPEB liability 310,387 - 310,387
Changes in Assumptions - - -
Employer Contributions - 238,199 (238,199)
Employee Contributions - - -
Actual Investment Income - 480,658 (480,658)
Administrative Expense - (1,433) 1,433
Benefit payments, including refunds (238,199) (238,199) - Experience (Gains)/Losses (3,378) - (3,378)
Net changes 296,282 479,225 (182,943)
Balance at June 30, 2024 $ 4,901,658 $ 4,877,710 $ 23,948 Increase (Decrease)
56 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
9) OTHER POST EMPLOYMENT BENEFITS - Continued
Sensitivity of the Net OPEB Liability/(Asset) to changes in the Healthcare Cost Trend Rates - The following presents the net OPEB liability/(asset) of the City, as well as what the City’s Net OPEB liability/(asset) would be if it were calculated using a healthcare cost trend rate that is 1-percentage-point lower or 1- percentage-point higher than the current healthcare cost trend rate:

OPEB Plan Fiduciary Net Position
CERBT issues a publicly available financial report that may be obtained from the California Public Employers’ Retirement System (CalPERS) website.

OPEB Expense and Recognition of Deferred Outflows/Inflows of Resources Related to OPEB Gains and losses related to changes in total OPEB liability and fiduciary net position are recognized in OPEB expense systematically over time. Amounts are first recognized in OPEB expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to OPEB and are to be recognized in future OPEB expense.

The recognition period differs depending on the source of the gain or loss:

Net difference between projected and actual
earnings on OPEB plan investments: 5 years
All other amounts: Expected average remaining service lifetime (EARSL)
For the year ended June 30, 2025, the City recognized OPEB expense of $262,477. The City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
1% Decrease Discount Rate 1% Increase
(5.75%) (6.75%) (7.75%)
Net OPEB liability (asset) $ 639,887 $ 23,948 $ (485,342) 1% Decrease Trend - No Change 1% Increase
(3%) (4%) (5%)
Net OPEB liability (asset) $ (547,982) $ 23,948 $ 739,098 Deferred Deferred
Outflows Inflows
OPEB Contributions Subsequent to the Measurement Date $ 229,084 $ - Changes of Assumptions 234,364 -
Differences between actual and projected experience - 391,874 Net differences between projected and actual
earnings on plan investments 145,680 -
Total $ 609,128 $ 391,874
57 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
9) OTHER POST EMPLOYMENT BENEFITS - Continued
The $229,084 reported as deferred outflows of resources related to contributions subsequent to the June 30, 2024 measurement date will be recognized as a reduction of the net OPEB liability during the fiscal year ended June 30, 2026. Other amounts reported as deferred outflows of resources related to OPEB will be recognized as expense as follows:
10) FUND BALANCES
Details of the City's governmental fund balances at June 30, 2025, are presented below:

The Miscellaneous Grants Fund and Other Governmental Funds have a deficit fund balance of $296,945 and $167,152, respectively, as of June 30, 2025. These deficits will be eliminated when unavailable revenues are realized in the next fiscal year.
11) OTHER INFORMATION
Contingent Liabilities
Claims and lawsuits have been filed against the City in the normal course of business. The outcome of these matters is not presently determinable. However, in the opinion of management, the resolution of these matters is not expected to have a significant impact on the financial condition of the City.

Year Ending
June 30,
2026 $ 22,314
2027 128,232
2028 (63,200)
2029 (65,932)
2030 (29,171)
Thereafter (4,073)
Other
General Miscellaneous Governmental
Fund Gas Tax Grants Funds Total
Nonspendable:

Prepaid Costs $ 148,661 $ 2,966 $ 19,151 - $ $ 170,778
Long-term Advances 8,890,590 - - - 8,890,590
Restricted for:

Lighting and Landscape - - - 827,076 827,076
Low Income Housing - - - 2,082,536 2,082,536
PEG Access - - - 94,870 94,870
Street Projects - 673,891 - 4,036,402 4,710,293
Safe Clean Water - - - 790,003 790,003
Air Pollution Reduction Measures - - - 124,836 124,836
La Puente Community Foundation - - - 536,852 536,852
Public Works (Transportation) - - - 653,212 653,212
Unassigned 20,488,508 - (296,945) (167,152) 20,024,411
Total Fund Balance $ 29,527,759 $ 676,857 $ (296,945) $ 8,997,786 $ 38,905,457 58 City of La Puente
Notes to Financial Statements
Year Ended June 30, 2025
11) OTHER INFORMATION - Continued
Other Commitments and Contingencies
The City has received state and federal funds for specific purposes that are subject to review and audit by the grantor agencies. Although such audits could generate expenditure disallowances under terms of the grants, it is believed that any required reimbursements will not be material. 59 60
61 City of La Puente
Required Supplementary Information
For the Year Ended June 30, 2025
Notes to the Schedule of Plan Contributions
Valuation Date: 6/30/18, 6/30/21, 6/30/23
Changes in Assumptions: None.
*Fiscal year 2018 was the first year of implementation; therefore, 10 years of information are not yet available.

Contributions in Contributions
Relation to the as a % of
Contractually Contractually Contribution Covered Covered Reqiured Required Deficiency/ Employee Employee
Fiscal Year Contributions Contributions (Excess) Payroll Payroll 2025 $ 229,084 $ (229,084) $ 4,860,010 - $ 4.71%
2024 238,199 (238,199) - 4,411,111 5.40%
2023 211,604 (211,604) - 3,864,935 5.47%
2022 238,498 (238,498) - 3,271,240 7.29%
2021 271,909 (271,909) - 2,581,351 10.53%
2020 294,371 (294,371) - 2,274,945 12.94%
2019 291,539 (291,539) - 2,074,085 14.06%
2018 284,077 (284,077) - 1,845,731 15.39%
2017 273,151 (273,151) - 1,732,444 15.77%
Schedule of Plan Contributions
Last 10 Years*
for the City's OPEB Plan
62 City of La Puente
Required Supplementary Information
For the Year Ended June 30, 2025
Notes to the Schedule of the City’s Proportionate Share of the Net Pension Liability/(Asset) Benefit Changes: None
Changes in Assumptions: In 2017, the accounting discount rate changed from 7.65% to 7.15%. In 2022, the accounting discount rate changed from 7.15% to 6.90%.

Proportionate
Proportionate Share of the Net Plan Fiduciary
Proportion of Share of Net Pension Liability/ Net Position as the Net Pension Pension Liability/ Covered (Asset) a % of the Total Measurement Date Liability/(Asset) (Asset) Payroll as a % of Payroll Pension Liability 2024 0.06513% 3,149,956 $ $ 4,411,111 71.41% 89.38%
2023 0.06500% 3,250,096 3,864,935 84.09% 87.86%
2022 0.05789% 2,708,922 3,271,240 82.81% 89.36%
2021 -0.06587% (1,250,787) 2,581,351 -48.45% 105.14%
2020 0.18484% 7,796,766 2,274,945 342.72% 67.64%
2019 0.18316% 7,334,797 2,074,085 353.64% 68.72%
2018 0.18164% 6,845,330 1,845,731 370.87% 69.44%
2017 0.17543% 6,915,558 1,732,444 399.18% 68.59%
2016 0.17441% 6,058,634 1,708,926 354.53% 69.59%
2015 0.17990% 4,935,366 1,469,397 335.88% 76.07%
Schedule of the City's Proportionate Share of the Net Pension Liability/(Asset) Last 10 Years
63 City of La Puente
Required Supplementary Information
For the Year Ended June 30, 2025
Notes to the Schedule of Plan Contributions
Valuation Date: 6/30/13, 6/30/14, 6/30/15, 6/30/16, 6/30/17, 6/30/18, 6/30/19, 6/30/20, 6/30/21, 6/30/22, 6/30/23
Changes in Assumptions: None.

Contributions in
Relation to the Contributions
Contractually Actuarially Contribution as a % of
Required Determined Deficiency/ Covered Covered
Fiscal Year Contributions Contributions (Excess) Payroll Payroll 2025 $ 598,055 $ (598,055) $ 4,860,010 - $ 12.31%
2024 609,106 (609,106) - 4,411,111 13.81%
2023 534,535 (534,535) - 3,864,935 13.83%
2022 451,548 (451,548) - 3,271,240 13.80%
2021 777,000 (6,396,905) (5,619,905) 2,581,351 30.10%
2020 683,377 (683,377) - 2,274,945 30.04%
2019 536,963 (536,963) - 2,074,085 25.89%
2018 458,034 (458,034) - 1,845,731 24.82%
2017 454,011 (454,011) - 1,732,444 26.20%
2016 412,824 (412,824) - 1,708,926 24.16%
Schedule of Pension Plan Contributions
Last 10 Years
64 65
66 67
City of La Puente
Notes to Required Supplementary Information
Year Ended June 30, 2025

BUDGETS AND BUDGETARY ACCOUNTING
The City follows the following procedures in establishing the budgetary data reflected in the financial statements:
 Annual budgets are adopted on a basis consistent with generally accepted accounting principles for all governmental funds. All annual appropriations lapse at fiscal year-end.  The City Council approves total budgeted appropriations. The appropriated budget is prepared by fund, program and activity. Each program of the City represents a separate government function, namely: general government, public safety, transportation, culture and leisure, community development and redevelopment and housing. Accordingly, each program of the City has been identified as a separate line item in the accompanying combined statement of revenues, expenditures and changes in fund balances. The City Manager is authorized to make appropriation transfers from one activity to another leaving the total fund appropriation unchanged within the same fund. City Council approves all other amendments to appropriations throughout the year. Actual expenditures may not exceed budgeted appropriations at the fund level. Budget figures used in the financial statements are the final adjusted amounts.  Formal budget integration is employed as a management control device during the year.  Under Article XIIIB of the California Constitution (the Gann Spending Litigation Initiative), the City is restricted as to the amount of annual appropriations from the proceeds of taxes, and if proceeds of taxes exceed allowed appropriations, the excess must either be refunded to the State Controller, returned to the taxpayers through revised tax rates, or revised fee schedules, or an excess in one year may be offset against a deficit in the following year. For the fiscal year ended June 30, 2025, based on calculations by City management, proceeds of taxes did not exceed appropriations. Further, Section 5 of Article XIIIB allows the City to designate a portion of fund balance for general contingencies, to be used for any purpose.  No budget was adopted for the La Puente Community Foundation Special Revenue Fund. 68 69
City of La Puente
Other Governmental Funds
June 30, 2025
SPECIAL REVENUE FUNDS - Continued
Lighting and Landscape Maintenance District Fund (LLMD) – The LLMD is used to account for special benefit assessments levied on property owners and used to pay for street lighting and landscape maintenance.

HSIP Grant Fund – To account for funds received from the United States Department of Transportation restricted for street related projects.

Housing PLHA – To account for funds received from the State of California from the Permanent Local Housing Allocation Program (PLHA) and is to be used for housing-related projects and programs that assist in addressing unmet housing needs.

La Puente Community Foundation – To account for funds of the La Puente Community Foundation, a blended component unit of the City of La Puente.

CAPITAL PROJECTS FUNDS
Capital Projects Fund – To account for loan proceeds restricted for certain capital projects, and other related expenditures.
2019A Measure M Fund – To account for the bond proceeds from the 2019A restricted for certain projects related to City-wide street pavement improvement projects.
2019B Measure R Fund – To account for the bond proceeds from the 2019B restricted for certain projects related to City-wide street pavement improvement projects.

DEBT SERVICE FUNDS
Citywide Debt Service Fund – To account for the administration of principal and interest payments for the 2020A and 2022A Certificates of Participation note.
2019A Measure M Fund – To account for the administration of principal and interest payments for the 2019A bonds.
2019B Measure R Fund – To account for the administration of principal and interest payments for the 2019B bonds. 70 71
72 73
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76 77
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City of La Puente
Description of Statistical Section Contents
June 30, 2025
This part of the City of La Puente's Annual Comprehensive financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information say about the government's overall financial health.

Contents: Pages
Financial Trends these schedules contain trend information to help the reader understand how the City's financial performance and well-being have changed over time 101
Revenue Capacity these schedules contain information to help the reader assess the City's most significant local revenue source, the property tax 112 Debt Capacity these schedules present information to help the reader assess the affordability of the City's current levels of outstanding debt and the City's ability to issue additional debt in the future 116
Demographic and Economic Information these schedules offer demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place 120
Operating Information these schedules contain service and infrastructure data to help the reader understand how the information in the City's financial report relates to the services the City provides and the activities it performs 123 100
101
102
103
104
105
106
107

108
109
110
111
112
113
114
115
116
117
118
119
120

121
122
123
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127
INDEPENDENT ACCOUNTANT’S REPORT ON AGREED-UPON PROCEDURES

APPLIED TO APPROPRIATIONS LIMIT WORKSHEETS
City Council
City of La Puente
La Puente, California
We have performed the procedures enumerated below to the accompanying Appropriations Limit worksheet of the City of La Puente, for the year ended June 30, 2025. These procedures, which were agreed to by the City of La Puente and the League of California Cities (as presented in the publication entitled Agreed-upon Procedures Applied to the Appropriations Limitation Prescribed by Article XIIIB of the California Constitution), were performed solely to assist the City in meeting the requirements of Section 1.5 of Article XIIIB of the California Constitution. The City’s management is responsible for the Appropriations Limit worksheet. This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. The sufficiency of the procedures is solely the responsibility of those parties specified in this report. This report may not be suitable for any other purpose. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose.

The procedures performed and our findings were as follows:

1. We obtained the completed worksheets and compared the limit and annual adjustment factors included in those worksheets to the limit and annual adjustment factors that were adopted by resolution of the City Council. We also compared the population and inflation options included in the aforementioned documents to those that were selected by a recorded vote of the City Council.

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

2. For the accompanying Appropriations Limit worksheet, we added last year’s limit to total adjustments and agreed the resulting amount to this year’s limit.

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

3. We agreed the current year information presented in the accompanying Appropriations Limit worksheet to the other documents referenced in #1 above.

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

Attachment B

4. We agreed the prior year appropriations limit presented in the accompanying Appropriations Limit worksheet to the prior year appropriations limit adopted by the City Council during the prior year.

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

We were not engaged to, and did not, perform an examination, the objective of which would be the expression of an opinion on the accompanying Appropriations Limit worksheet. Accordingly, we do not express such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you. No procedures have been performed with respect to the determination of the appropriations limit for the base year, as defined by the League publication entitled Article XIIIB of the California Constitution.

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

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

December 19, 2025
2 CITY OF LA PUENTE

APPROPRIATIONS LIMIT COMPUTATION
2024 – 2025
2024 - 2025
Change in Per Capita Personal Income 3.62%
Population Change
County of Los Angeles Population Growth 0.05%
Change in Per Capita Personal Income
Converted to a Ratio 1.0362
Population Growth Converted to a Ratio 1.0005
Calculation of Growth Factor 1.0367181
2023 - 2024 Appropriations Limit 121,752,100 $
2024 - 2025 Appropriations Limit
($121,752,100 x 1.0367181) $ 126,222,606
3 November 20, 2025
City Council
City of La Puente
La Puente, CA
We have audited the financial statements of the governmental activities, business-type activities, each major fund, and the aggregate remaining fund information of the City of La Puente for the year ended June 30, 2025. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards and Government Auditing Standards, as well as certain information related to the planned scope and timing of our audit.

We have communicated such information in our letter to you dated April 24, 2025. Professional standards also require that we communicate to you the following information related to our audit.

Significant Audit Findings
Qualitative Aspects of Accounting Practices
Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the City are described in Note 1 to the financial statements.

No new accounting policies were adopted and the application of existing policies was not changed during the fiscal year. We noted no transactions entered into by the City during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period.

Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimates affecting the financial statements were:

Management’s estimate of the fair value of investments is based on information provided by financial institutions. We evaluated the key factors and assumptions used to develop the fair value of investments in determining that it is reasonable in relation to the financial statements as a whole.
1 Attachment C
Management’s estimate of capital assets depreciation is based on historical estimates of each capitalized item’s useful life. We evaluated the key factors and assumptions used to develop the estimated useful lives in determining that they are reasonable in relation to the financial statements as a whole.

Management’s estimate of the net pension and net OPEB liabilities are based on actuarial information provided by the California Public Employee Retirement System’s (CalPERS) actuarial office, and other sources. We evaluated the key factors and assumptions used to develop these liabilities in determining that the estimated liabilities are reasonable in relation to the financial statements as a whole.

Certain financial statement disclosures are particularly sensitive because of their significance to financial statement users. The most sensitive disclosures affecting the financial statements were:

The disclosure of the fair value of investments in Note 2 to the financial statements represents amounts susceptible to market fluctuation.

The disclosure of accumulated depreciation in Note 5 to the financial statements is based on estimated useful lives which could differ from actual useful lives of each capitalized item.

The disclosures for the net pension and net OPEB liabilities in Notes 8 and 9 to the financial statements are based on assumptions for discount rates, etc., which could differ from actual experience. The notes disclose the differences in these liabilities if different assumptions are used in estimating these liabilities.

Difficulties Encountered in Performing the Audit
We encountered no significant difficulties in dealing with management in performing and completing our audit.

Corrected and Uncorrected Misstatements
Professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that are trivial, and communicate them to the appropriate level of management. In addition, none of the misstatements detected as a result of audit procedures and corrected by management were material, either individually or in the aggregate, to each opinion unit’s financial statements taken as a whole.

Disagreements with Management
For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or the auditor’s report. We are pleased to report that no such disagreements arose during the course of our audit.

Management Representations
We have requested certain representations from management that are included in the management representation letter dated November 20, 2025. 2 Management Consultations with Other Independent Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting principle to the City’s financial statements or a determination of the type of auditor’s opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other accountants.

Other Audit Findings or Issues
We generally discuss a variety of matters, including the application of accounting principles and auditing standards, with management each year prior to retention as the City’s auditors. However, these discussions occurred in the normal course of our professional relationship and our responses were not a condition to our retention.

Other Matters
We applied certain limited procedures to the Management’s Discussion and Analysis, Schedule of Changes in the Net OPEB Liability, Schedule of Plan Contributions (OPEB), Schedule of Proportionate Share of the Net Pension Liability, and the Schedule of Plan Contributions, which are required supplementary information (RSI) that supplements the basic financial statements.

Our procedures consisted of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We did not audit the RSI and do not express an opinion or provide any assurance on the RSI.

We were engaged to report on supplementary information, as listed in the table of contents, which accompany the financial statements but are not RSI. With respect to this supplementary information, we made certain inquiries of management and evaluated the form, content, and methods of preparing the information to determine that the information complies with accounting principles generally accepted in the United States of America, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or to the financial statements themselves.

We were not engaged to report on the introductory and statistical sections, which accompany the financial statements but are not RSI. Such information has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on it.

This information is intended solely for the use of the City Council and management of the City and is not intended to be, and should not be, used by anyone other than these specified parties.

Very truly yours,
3 Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards City Council
City of La Puente
La Puente, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, business-type activities, each major fund and the aggregate remaining fund information of the City of La Puente (City), as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements, and have issued our report thereon dated November 20, 2025.

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

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

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be Attachment D
material weaknesses or significant deficiencies and therefore, material weaknesses may exist that were not identified. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

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

November 20, 2025
City of La Puente
Agenda Report
Agenda Item No. D.5
To: Mayor and City Council For meeting of: January 27, 2026 From: Bob Lindsey, City Manager
By: Troy Grunklee, CPA, Director of Administrative Services Candice Yu, Principal Accountant
Subject: CONSIDERATION OF APPROVAL OF A FIRST AMENDMENT TO THE

PROFESSIONAL SERVICES AGREEMENT FOR BUDGET SOFTWARE SERVICES

WITH IGM TECHNOLOGY CORPORATION

BACKGROUND/DISCUSSION
Since Fiscal Year 2020/2021, the City has received the Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA) on a consistent annual basis. With the passage of time, preparation of the annual budget and capital improvement program using Microsoft Office products has become progressively complex, owing in large part to increases in revenues and expenditures, growth in funding sources, and expanding document requirements. Staff determined that a specialized budget software tool would be of significant benefit to the annual process and would allow for a reduction in labor hours and improvements in data analytics and financial forecasting.

On January 24, 2023, City Council approved a Professional Services Agreement with IGM Technology Corporation for a three (3) year term, with the option of extension for up to two (2) additional years. After the conclusion of the initial contract term, the pricing for the extension periods allows for escalations of up to 5% annually, subject to negotiation by both parties. The agreement is set to expire on January 23, 2026.

City staff are recommending the City Council approve Amendment No. 1 to the Professional Services Agreement with IGM Technology Corporation for one year as well as an increase of 5% to the contract price totaling $21,630 to continue services for the City’s budget software.

FISCAL IMPACT
The total pricing for the contract term is $21,630 to be appropriated within the Equipment Replacement internal service fund.

RECOMMENDATION
It is recommended that the City Council approve the first amendment to the professional services agreement with IGM Technology and authorize the City Manager to execute the Agreement on behalf of the City.

ATTACHMENTS
A. IGM Technology Amendment No. 1
Agenda Report – Consideration of Amendment No. 1 with IGM Technology Corp.

For City Council And Successor Agency Meeting of January 27, 2026

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La Puente City CouncilJanuary 27, 2026

La Puente City Council
January 27, 2026