Agenda packet — Los Altos City Council, November 18, 2025 (part 2 of 4)

Public Trust Advisors 56
04/01/2025 to 06/30/2025
City of Los Altos
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
NAROT 2022-B A3
65480JAC4
ABS
05/17/27
140,307.61
140,249.47
140,249.47

0.00 0.00

0.00 (33,335.20)
1,437.02

0.00 0.00
(35.48)
106,979.31
106,961.07
106,996.55
HART 2022-C A3
44933DAD3
ABS
06/15/27
198,026.93
198,756.01
198,756.01

0.00 0.00

0.00 (55,196.92)
2,416.40

0.00 0.01
508.38
142,830.28
143,339.29
142,830.92
DCENT 2022-3 A
254683CW3
ABS
07/15/27
299,962.77
299,034.75
299,034.75

0.00 0.00

0.00 0.00
2,670.00

0.00 0.00
(92.91)
299,962.77
299,906.58
299,999.49
CARMX 2022-4 A3
14318UAD3
ABS
08/16/27
179,977.80
180,770.03
180,770.03

0.00 0.00

0.00 (43,121.86)
2,207.85

0.00 (0.00)
444.67
136,866.05
137,336.16
136,891.49
MBART 2022-1 A3
58768PAC8
ABS
08/16/27
212,856.22
213,520.23
213,520.23

0.00 0.00

0.00 (53,947.77)
2,530.75

0.00 (0.01)
498.76
158,919.12
159,442.06
158,943.30
TAOT 2023-A A3
891940AC2
ABS
09/15/27
130,083.88
130,148.57
130,148.57

0.00 0.00

0.00 (26,565.81)
1,400.86

0.00 (0.00)

46.06 103,518.09
103,564.14
103,518.08
TAOT 2022-D A3
89239HAD0
ABS
09/15/27
84,743.53
85,128.64
85,128.64

0.00 0.00

0.00 (17,371.77)
1,044.46

0.00 0.01
331.02
67,373.48
67,709.73
67,378.71
AMXCA 2022-4 A
02582JJX9
ABS
10/15/27
119,994.05
120,262.88
120,262.88

0.00 0.00

0.00 0.00
1,485.00

0.00 0.00
158.75
119,994.05
120,158.20
119,999.45
NAROT 2023-A A3
65480WAD3
ABS
11/15/27
212,332.11
212,770.29
212,770.29

0.00 0.00

0.00 (45,903.51)
2,412.01

0.00 0.00
353.44
166,436.72
166,811.34
166,457.90
HAROT 2023-2 A3
437927AC0
ABS
11/15/27
159,974.08
160,611.55
160,611.55

0.00 0.00

0.00 (18,754.07)
1,938.52

0.00 (0.00)
409.22
141,223.05
141,648.68
141,239.46
HDMOT 2023-A A3
41285JAD0
ABS
12/15/27
130,090.05
130,464.73
130,464.73

0.00 0.00

0.00 (29,832.97)
1,516.71

0.00 (0.00)
206.46
100,260.08
100,474.19
100,267.73
TAOT 2023-B A3
891941AD8
ABS
02/15/28
199,988.82
200,211.28
200,211.28

0.00 0.00

0.00 (31,066.34)
2,246.41

0.00 0.00
310.60
168,924.22
169,241.36
168,930.76
FORDO 2023-A A3
344928AD8
ABS
02/15/28
111,029.10
111,196.84
111,196.84

0.00 0.00

0.00 (22,272.08)
1,203.34

0.00 (0.01)
100.32
88,759.34
88,866.30
88,765.99

Page 132 of 533 ends

Public Trust Advisors 57
04/01/2025 to 06/30/2025
City of Los Altos
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
GMCAR 2023-2 A3
362583AD8
ABS
02/16/28
125,578.75
125,519.18
125,519.18

0.00 0.00

0.00 (26,134.01)
1,303.88

0.00 (0.00)
(23.31)
99,445.46
99,424.16
99,447.47
BMWOT 2023-A A3
05592XAD2
ABS
02/25/28
80,220.56
80,763.76
80,763.76

0.00 0.00

0.00 (16,279.31)
1,021.49

0.00 0.01
383.56
63,944.14
64,335.54
63,951.98
NAROT 2023-B A3
65480MAD5
ABS
03/15/28
104,978.69
106,160.94
106,160.94

0.00 0.00

0.00 0.00
1,556.62

0.00 0.00
834.02
104,978.69
105,826.81
104,992.79
DCENT 2023-1 A
254683CY9
ABS
03/15/28
299,982.60
299,780.01
299,780.01

0.00 0.00

0.00 0.00
3,232.50

0.00 0.00
(269.41)
299,982.60
299,725.86
299,995.27
HART 2023-B A3
44933XAD9
ABS
04/17/28
74,996.75
75,599.25
75,599.25

0.00 0.00

0.00 (10,034.18)
1,002.58

0.00 0.00
417.73
64,963.01
65,382.64
64,964.92
FORDO 2023-B A3
344930AD4
ABS
05/15/28
149,997.98
151,154.13
151,154.13

0.00 0.00

0.00 (12,253.69)
1,951.88

0.00 0.01
753.79
137,744.46
138,499.45
137,745.66
GMCAR 2023-3 A3
36267KAD9
ABS
06/16/28
74,997.11
75,588.29
75,588.29

0.00 0.00

0.00 (7,670.16)
1,006.47

0.00 0.01
425.81
67,327.25
67,754.76
67,328.95
HAROT 2023-4 A3
438123AC5
ABS
06/21/28
84,985.03
86,024.00
86,024.00

0.00 0.00

0.00 0.00
1,204.89

0.00 0.00
912.16
84,985.03
85,906.53
84,994.37
FITAT 2023-1 A3
31680EAD3
ABS
08/15/28
264,983.57
267,331.87
267,331.87

0.00 0.00

0.00 (20,859.63)
3,640.71

0.00 (0.00)
1,912.72
244,125.23
246,047.47
244,134.75
CHAIT 2023-1 A
161571HT4
ABS
09/15/28
379,894.66
384,304.64
384,304.64

0.00 0.00

0.00 0.00
4,902.00

0.00 0.00
4,435.91
379,894.66
384,391.62
379,955.71
Toronto-Dominion Bank - New
York Branch
89115B6K1
CD
10/27/25
500,000.00
503,829.85
503,829.85

0.00 0.00

0.00 1,856.15
500,000.00
501,856.15
500,000.00
Nordea ABP - New York Branch
65558UYF3
CD
11/03/25
500,000.00
503,771.95
503,771.95

0.00 0.00

0.00 0.00
13,825.00

0.00 0.00
1,685.70
500,000.00
501,685.70
500,000.00
Coöperatieve Rabobank U.A.,
New York Branch
21684LGS5
CD
07/17/26
475,000.00
482,823.92
482,823.92

0.00 0.00

0.00 6,600.70
475,000.00
481,600.70
475,000.00

Page 133 of 533 ends

Public Trust Advisors 58
04/01/2025 to 06/30/2025
City of Los Altos
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
Natixis, New York Branch
63873QP65
CD
09/18/26
375,000.00
382,657.73
382,657.73

0.00 0.00

0.00 6,625.50
375,000.00
381,625.50
375,000.00

PACCAR FINANCIAL CORP
69371RR73
CORP
04/07/25
249,935.00
249,929.07
249,929.07

0.00 0.00

0.00 0.00
(250,000.00)

0.00 3,562.50

0.00 0.00

BROWN-FORMAN CORP
115637AS9
CORP
04/15/25
119,465.45
114,937.57
114,937.57

0.00 0.00

0.00 0.00
(115,000.00)

0.00 2,012.50

0.00 0.00

BANK OF NEW YORK

MELLON CORP
06406RAN7
CORP
04/24/25
138,202.20
134,745.00
134,745.00

0.00 0.00

0.00 0.00
(135,000.00)

0.00 1,080.00

0.00 0.00

BANK OF NEW YORK

MELLON CORP
06406RAN7
CORP
04/24/25
121,988.75
124,763.89
124,763.89

0.00 0.00

0.00 0.00
(125,000.00)

0.00 1,000.00

0.00 0.00

0.00 0.00
CINTAS NO 2 CORP
17252MAP5
CORP
05/01/25
104,976.90
104,878.08
104,878.08

0.00 0.00

0.00 0.00
(105,000.00)

0.00 1,811.25

0.00 0.00

0.00 0.00
CINTAS NO 2 CORP
17252MAP5
CORP
05/01/25
69,794.90
69,918.72
69,918.72

0.00 0.00

0.00 0.00
(70,000.00)

0.00 1,207.50

0.00 0.00

CATERPILLAR FINANCIAL

SERVICES CORP
14913R2V8
CORP
05/13/25
94,879.35
94,876.83
94,876.83

0.00 0.00

0.00 0.00
(95,000.00)

0.00 1,615.00

0.00 0.00

CATERPILLAR FINANCIAL

SERVICES CORP
14913R2V8
CORP
05/13/25
29,997.00
29,961.11
29,961.11

0.00 0.00

0.00 0.00
(30,000.00)

0.00 510.00

0.00 0.00

HONEYWELL

INTERNATIONAL INC
438516CB0
CORP
06/01/25
171,234.00
173,988.90
173,988.90

0.00 0.00

0.00 0.00
(175,000.00)

0.00 1,181.25

0.00 0.00

PNC BANK NA (DELAWARE)
69353REQ7
CORP
06/01/25
245,665.00
249,267.96
249,267.96

0.00 0.00

0.00 0.00
(250,000.00)

0.00 4,062.50

0.00 0.00

HERSHEY CO
427866BF4
CORP
06/01/25
124,784.40
129,199.71
129,199.71

0.00 0.00

0.00 0.00
(130,000.00)

0.00 585.00

0.00 0.00

TRUIST FINANCIAL CORP
05531FBE2
CORP
06/05/25
242,822.58
230,533.23
230,533.23

0.00 0.00

0.00 0.00
(231,000.00)

0.00 4,273.50

0.00 0.00

Page 134 of 533 ends

Public Trust Advisors 59
04/01/2025 to 06/30/2025
City of Los Altos
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE
CORP
63743HFE7
CORP
06/15/25
59,680.20
59,840.17
59,840.17

0.00 0.00

0.00 0.00
(60,000.00)

0.00 1,035.00

0.00 0.00

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE
CORP
63743HFE7
CORP
06/15/25
39,989.20
39,893.45
39,893.45

0.00 0.00

0.00 0.00
(40,000.00)

0.00 690.00

0.00 0.00

JPMORGAN CHASE & CO
46625HMN7
CORP
07/15/25
232,026.75
224,542.77
224,542.77

0.00 0.00

0.00 (84.80)
232,026.75
224,915.20
225,000.00

MORGAN STANLEY
6174468C6
CORP
07/23/25
84,900.55
84,868.98
84,868.98

0.00 0.00

0.00 (77.91)
84,900.55
84,920.07
84,997.98

INTERNATIONAL BUSINESS

MACHINES CORP
459200KS9
CORP
07/27/25
375,000.00
374,284.03
374,284.03

0.00 0.00

0.00 (165.55)
375,000.00
374,834.45
375,000.00

INTEL CORP
458140AS9
CORP
07/29/25
195,476.00
199,201.72
199,201.72

0.00 0.00

0.00 (509.29)
195,476.00
199,343.77
199,853.05

BANK OF AMERICA CORP
06051GFS3
CORP
08/01/25
232,420.50
224,481.64
224,481.64

0.00 0.00

0.00 (317.56)
232,420.50
224,878.44
225,196.01

COLGATE-PALMOLIVE CO
194162AM5
CORP
08/15/25
54,949.40
54,711.37
54,711.37

0.00 0.00

0.00 (103.04)
54,949.40
54,894.80
54,997.84

WALMART INC
931142EW9
CORP
09/09/25
149,895.00
149,782.76
149,782.76

0.00 0.00

0.00 (128.03)
149,895.00
149,864.99
149,993.02

COMMONWEALTH BANK

OF AUSTRALIA (NEW YORK

BRANCH)
20271RAS9
CORP
09/12/25
250,230.00
251,157.96
251,157.96

0.00 0.00

0.00 421.44
250,230.00
250,445.26
250,023.82

HOME DEPOT INC
437076CR1
CORP
09/15/25
54,980.20
54,891.75
54,891.75

0.00 0.00

0.00 (55.70)
54,980.20
54,942.85
54,998.55

AMERICAN HONDA FINANCE
CORP
02665WEQ0
CORP
10/03/25
174,837.25
176,116.00
176,116.00

0.00 0.00

0.00 0.00
5,075.00

0.00 0.00
499.14
174,837.25
175,477.27
174,978.13

Page 135 of 533 ends

Public Trust Advisors 60
04/01/2025 to 06/30/2025
City of Los Altos
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value

LOCKHEED MARTIN CORP
539830BU2
CORP
10/15/25
79,772.00
80,141.68
80,141.68

0.00 0.00

0.00 0.00
1,980.00

0.00 0.00

46.19 79,772.00
80,022.48
79,976.29

UNITEDHEALTH GROUP INC
91324PEN8
CORP
10/15/25
79,992.80
80,304.24
80,304.24

0.00 0.00

0.00 0.00
2,060.00

0.00 0.00
135.77
79,992.80
80,134.85
79,999.09

LOCKHEED MARTIN CORP
539830BU2
CORP
10/15/25
95,046.55
95,168.25
95,168.25

0.00 0.00

0.00 0.00
2,351.25

0.00 0.00

23.37 95,046.55
95,026.69
95,003.32

BRISTOL-MYERS SQUIBB CO
110122DN5
CORP
11/13/25
118,435.00
122,342.71
122,342.71

0.00 0.00

0.00 0.00
468.75

0.00 0.00
(945.60)
118,435.00
123,383.13
124,328.73

AUSTRALIA AND NEW

ZEALAND BANKING GROUP

LTD (NEW Y
05254JAA8
CORP
12/08/25
250,000.00
251,098.49
251,098.49

0.00 0.00

0.00 0.00
6,360.00

0.00 0.00
594.97
250,000.00
250,594.97
250,000.00

TOYOTA MOTOR CREDIT
CORP
89236TLJ2
CORP
01/05/26
174,865.25
175,531.89
175,531.89

0.00 0.00

0.00 463.31
174,865.25
175,427.68
174,964.37

CITIGROUP INC
172967KG5
CORP
01/12/26
194,698.00
198,792.83
198,792.83

0.00 0.00

0.00 377.92
194,698.00
199,283.30
198,905.38

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE
CORP
63743HFH0
CORP
03/13/26
124,536.25
125,034.56
125,034.56

0.00 0.00

0.00 161.52
124,536.25
125,052.50
124,890.98

BANK OF AMERICA CORP
06051GFX2
CORP
04/19/26
170,066.75
173,379.46
173,379.46

0.00 0.00

0.00 0.00
3,062.50

0.00 0.00
201.24
170,066.75
173,788.43
173,587.18

WELLS FARGO & CO
949746RW3
CORP
04/22/26
188,176.00
196,963.10
196,963.10

0.00 0.00

0.00 0.00
3,000.00

0.00 0.00
1,093.38
188,176.00
197,794.12
196,700.74

CATERPILLAR FINANCIAL

SERVICES CORP
14913UAA8
CORP
05/15/26
249,882.50
250,421.32
250,421.32

0.00 0.00

0.00 0.00
5,437.50

0.00 0.00
177.56
249,882.50
250,141.92
249,964.36

TOYOTA MOTOR CREDIT
CORP
89236TKT1
CORP
05/18/26
209,878.20
210,155.99
210,155.99

0.00 0.00

0.00 0.00
4,672.50

0.00 0.00
404.00
209,878.20
210,366.67
209,962.66

Page 136 of 533 ends

Public Trust Advisors 61
04/01/2025 to 06/30/2025
City of Los Altos
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value

AMERICAN HONDA FINANCE
CORP
02665WEK3
CORP
07/07/26
50,252.00
50,452.30
50,452.30

0.00 0.00

0.00 328.05
50,252.00
50,419.74
50,091.69

AMERICAN HONDA FINANCE
CORP
02665WEK3
CORP
07/07/26
84,895.45
85,768.92
85,768.92

0.00 0.00

0.00 750.80
84,895.45
85,713.55
84,962.75

AMERICAN HONDA FINANCE
CORP
02665WEK3
CORP
07/07/26
64,583.35
65,588.00
65,588.00

0.00 0.00

0.00 694.78
64,583.35
65,545.66
64,850.88

BANK OF NEW YORK

MELLON CORP
06406RBJ5
CORP
07/24/26
170,554.20
169,863.48
169,863.48

0.00 0.00

0.00 (85.96)
170,554.20
169,926.44
170,012.40

BANK OF NEW YORK

MELLON CORP
06406RBJ5
CORP
07/24/26
80,000.00
79,935.76
79,935.76

0.00 0.00

0.00 (34.62)
80,000.00
79,965.38
80,000.00

TRUIST FINANCIAL CORP
89788MAH5
CORP
07/28/26
65,000.00
64,880.91
64,880.91

0.00 0.00

0.00 (26.17)
65,000.00
64,973.83
65,000.00

TRUIST FINANCIAL CORP
89788MAH5
CORP
07/28/26
65,065.00
64,880.91
64,880.91

0.00 0.00

0.00 (27.88)
65,065.00
64,973.83
65,001.71

STATE STREET CORP
857477CD3
CORP
08/03/26
200,000.00
202,258.72
202,258.72

0.00 0.00

0.00 2,008.32
200,000.00
202,008.32
200,000.00

PACCAR FINANCIAL CORP
69371RS56
CORP
08/10/26
124,937.50
126,337.71
126,337.71

0.00 0.00

0.00 1,328.99
124,937.50
126,304.84
124,975.85

BANK OF AMERICA NA
06428CAA2
CORP
08/18/26
275,000.00
279,422.67
279,422.67

0.00 0.00

0.00 3,900.20
275,000.00
278,900.20
275,000.00

HOME DEPOT INC
437076CV2
CORP
09/30/26
104,770.05
106,097.67
106,097.67

0.00 0.00

0.00 1,146.05
104,770.05
106,037.20
104,891.15

PEPSICO INC
713448FW3
CORP
11/10/26
64,982.45
65,894.36
65,894.36

0.00 0.00

0.00 0.00
1,665.63

0.00 0.00
827.18
64,982.45
65,818.95
64,991.78

GOLDMAN SACHS GROUP
INC
38145GAH3
CORP
11/16/26
188,710.00
196,896.79
196,896.79

0.00 0.00

0.00 0.00
3,500.00

0.00 0.00
2,643.83
188,710.00
197,660.46
195,016.63

Page 137 of 533 ends

Public Trust Advisors 62
04/01/2025 to 06/30/2025
City of Los Altos
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value

WELLS FARGO BANK NA
94988J6F9
CORP
12/11/26
375,000.00
380,322.81
380,322.81

0.00 0.00

0.00 0.00
9,851.25

0.00 0.00
5,407.46
375,000.00
380,407.46
375,000.00

JOHN DEERE CAPITAL CORP
24422EXF1
CORP
01/08/27
199,778.00
201,168.23
201,168.23

0.00 0.00

0.00 1,373.10
199,778.00
201,256.99
199,883.90

AUSTRALIA AND NEW

ZEALAND BANKING GROUP

LTD (NEW Y
05253JAZ4
CORP
01/18/27
250,000.00
251,980.83
251,980.83

0.00 0.00

0.00 2,546.28
250,000.00
252,546.28
250,000.00

COMCAST CORP
20030NBY6
CORP
02/01/27
186,160.00
196,534.73
196,534.73

0.00 0.00

0.00 4,253.66
186,160.00
197,186.55
192,932.89
FHMS K-053 A2
3137BN6G4

GSE MBS
12/25/25
235,299.10
235,535.36
235,535.36

0.00 0.00

0.00 (16,795.96)
1,741.62

0.00 0.00
(979.88)
218,696.68
219,534.53
220,514.41
FHMS K-054 A2
3137BNGT5

GSE MBS
01/25/26
248,183.10
255,389.01
255,389.01

0.00 0.00

0.00 (12,012.65)
1,759.95

0.00 0.00
(157.01)
236,667.84
244,248.12
244,405.12
FHMS K-054 A2
3137BNGT5

GSE MBS
01/25/26
204,763.47
208,954.65
208,954.65

0.00 0.00

0.00 (9,828.54)
1,439.96

0.00 (0.00)
(427.28)
195,262.81
199,839.37
200,266.65
FNA 2016-M03 A2
3136ARTE8

GSE MBS
02/25/26
206,510.29
119,958.27
119,958.27

0.00 0.00

0.00 (594.24)
821.68

0.00 0.01
(16,111.67)
205,503.07
119,705.44
135,817.11
FHMS K-736 A2
3137FNWX4

GSE MBS
07/25/26
225,652.71
237,274.35
237,274.35

0.00 0.00

0.00 (2,230.30)
1,388.21

0.00 (0.01)
2,309.62
223,583.31
236,302.55
233,992.93
FHMS K-057 A2
3137BRQJ7

GSE MBS
07/25/26
247,223.44
254,751.25
254,751.25

0.00 0.00

0.00 (12,898.45)
1,668.12

0.00 0.00
131.18
234,958.83
242,929.32
242,798.14
FHMS K-057 A2
3137BRQJ7

GSE MBS
07/25/26
241,779.69
254,751.25
254,751.25

0.00 0.00

0.00 (12,898.45)
1,668.12

0.00 0.00
1,532.27
229,785.14
242,929.32
241,397.05
FHMS K-058 A2
3137BSP72

GSE MBS
08/25/26
383,156.25
390,998.28
390,998.28

0.00 0.00

0.00 0.00
2,652.99

0.00 0.00
(1,053.94)
383,156.25
392,621.04
393,674.98
FNA 2016-M12 A2
3136AUKX8

GSE MBS
09/25/26
272,226.07
260,875.01
260,875.01

0.00 0.00

0.00 (1,581.06)
1,666.66

0.00 0.01
(7,356.38)
270,620.13
260,847.11
268,203.49

Page 138 of 533 ends

Public Trust Advisors 63
04/01/2025 to 06/30/2025
City of Los Altos
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
FHMS K-059 A2
3137BSRE5

GSE MBS
09/25/26
260,465.82
270,421.64
270,421.64

0.00 0.00

0.00 0.00
2,145.00

0.00 0.00
2,751.22
260,465.82
271,172.77
268,421.55
FHMS K-062 A2
3137BUX60

GSE MBS
12/25/26
261,840.82
270,881.08
270,881.08

0.00 0.00

0.00 0.00
2,346.45

0.00 0.00
3,380.07
261,840.82
271,668.27
268,288.20
FHMS K-062 A2
3137BUX60

GSE MBS
12/25/26
262,485.35
270,881.08
270,881.08

0.00 0.00

0.00 0.00
2,346.45

0.00 0.00
3,102.52
262,485.35
271,668.27
268,565.74
FHMS K-063 A2
3137BVZ82

GSE MBS
01/25/27
259,273.44
270,956.46
270,956.46

0.00 0.00

0.00 0.00
2,358.12

0.00 0.00
4,566.10
259,273.44
271,731.79
267,165.69
FHMS K-065 A2
3137F1G44

GSE MBS
04/25/27
244,938.28
254,937.15
254,937.15

0.00 0.00

0.00 0.00
2,107.95

0.00 0.00
4,229.25
244,938.28
255,894.89
251,665.64
FHMS K-092 A1
3137FLYU2

GSE MBS
10/25/28
194,391.93
178,939.24
178,939.24

0.00 0.00

0.00 (11,769.49)
1,398.02

0.00 (0.01)
(9,488.81)
181,876.80
168,103.46
177,592.27

UNITED STATES TREASURY
912828XB1
US GOV
05/15/25
1,654,248.05
1,720,310.16
1,720,310.16

0.00 0.00

0.00 0.00
(1,725,000.00)

0.00 18,328.13

0.00 0.00

UNITED STATES TREASURY
912828ZW3
US GOV
06/30/25
923,281.25
990,026.04
990,026.04

0.00 0.00

0.00 0.00
(1,000,000.00)

0.00 1,250.00

0.00 0.00

UNITED STATES TREASURY
91282CEY3
US GOV
07/15/25
418,708.01
423,395.18
423,395.18

0.00 0.00

0.00 (138.49)
418,708.01
424,772.82
424,911.31

UNITED STATES TREASURY
91282CEY3
US GOV
07/15/25
1,195,453.13
1,195,468.75
1,195,468.75

0.00 0.00

0.00 (579.40)
1,195,453.13
1,199,358.56
1,199,937.96

UNITED STATES TREASURY
91282CFK2
US GOV
09/15/25
587,976.56
598,129.69
598,129.69

0.00 0.00

0.00 235.23
587,976.56
599,343.75
599,108.52

UNITED STATES TREASURY
91282CFW6
US GOV
11/15/25
1,140,468.75
1,127,241.21
1,127,241.21

0.00 0.00

0.00 0.00
25,312.50

0.00 0.00
(1,517.91)
1,140,468.75
1,125,560.31
1,127,078.22

UNITED STATES TREASURY
91282CGE5
US GOV
01/15/26
2,544,123.05
2,545,756.65
2,545,756.65

0.00 0.00

0.00 (2,321.16)
2,544,123.05
2,546,563.47
2,548,884.62

Page 139 of 533 ends

Public Trust Advisors 64
04/01/2025 to 06/30/2025
City of Los Altos
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value

UNITED STATES TREASURY
91282CGL9
US GOV
02/15/26
913,725.00
928,931.95
928,931.95

0.00 0.00

0.00 2,445.14
913,725.00
928,828.41
926,383.27

UNITED STATES TREASURY
91282CGV7
US GOV
04/15/26
1,147,349.61
1,146,406.25
1,146,406.25

0.00 0.00

0.00 0.00
21,562.50

0.00 0.00
(2,254.45)
1,147,349.61
1,147,012.69
1,149,267.14

UNITED STATES TREASURY
91282CHB0
US GOV
05/15/26
1,683,332.03
1,692,496.10
1,692,496.10

0.00 0.00

0.00 0.00
30,812.50

0.00 0.00
(1,175.88)
1,683,332.03
1,693,691.40
1,694,867.28

UNITED STATES TREASURY
91282CHH7
US GOV
06/15/26
965,478.52
976,485.35
976,485.35

0.00 0.00

0.00 0.00
20,109.38

0.00 0.00
4,407.27
965,478.52
976,199.71
971,792.44

UNITED STATES TREASURY
91282CHM6
US GOV
07/15/26
1,547,517.58
1,559,748.04
1,559,748.04

0.00 0.00

0.00 9,057.57
1,547,517.58
1,558,158.69
1,549,101.12

UNITED STATES TREASURY
91282CHU8
US GOV
08/15/26
1,089,515.63
1,105,714.84
1,105,714.84

0.00 0.00

0.00 8,952.87
1,089,515.63
1,104,769.53
1,095,816.67

UNITED STATES TREASURY
91282CHY0
US GOV
09/15/26
992,851.56
1,009,375.00
1,009,375.00

0.00 0.00

0.00 11,085.77
992,851.56
1,008,046.88
996,961.11

UNITED STATES TREASURY
91282CJC6
US GOV
10/15/26
448,734.38
454,464.85
454,464.85

0.00 0.00

0.00 0.00
10,406.25

0.00 0.00
4,580.24
448,734.38
454,007.81
449,427.57

UNITED STATES TREASURY
91282CJK8
US GOV
11/15/26
1,259,814.45
1,262,988.28
1,262,988.28

0.00 0.00

0.00 0.00
28,906.25

0.00 0.00
7,337.18
1,259,814.45
1,262,109.38
1,254,772.19

UNITED STATES TREASURY
91282CJP7
US GOV
12/15/26
1,864,308.59
1,863,007.81
1,863,007.81

0.00 0.00

0.00 0.00
40,468.75

0.00 0.00
6,481.89
1,864,308.59
1,863,802.74
1,857,320.85

UNITED STATES TREASURY
91282CJP7
US GOV
12/15/26
501,972.66
503,515.63
503,515.63

0.00 0.00

0.00 0.00
10,937.50

0.00 0.00
2,713.71
501,972.66
503,730.47
501,016.76

NATIONAL AUSTRALIA BANK

LTD (NEW YORK BRANCH)
63254ABD9
YANKEE
06/09/25
255,000.00
254,422.11
254,422.11

0.00 0.00

0.00 0.00
(255,000.00)

0.00 4,462.50

0.00 0.00

NATIONAL AUSTRALIA BANK

LTD (NEW YORK BRANCH)
63253QAA2
YANKEE
01/12/26
415,000.00
416,665.41
416,665.41

0.00 0.00

0.00 1,246.50
415,000.00
416,246.50
415,000.00

Page 140 of 533 ends

Public Trust Advisors 65
04/01/2025 to 06/30/2025
City of Los Altos
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
Portfolio Total
$52,978,563.53
$53,205,086.94
$53,122,198.89
$7,205,420.73
$0.00
$0.00
$0.00
($4,791,000.00)
($1,898,732.80)
$515,687.93
$0.00
$0.02
$97,519.20
$53,603,680.70
$53,774,654.19
$53,677,134.99

Page 141 of 533 ends

Public Trust Advisors 66
04/01/2025 to 06/30/2025
City of Los Altos
This information is for the sole purposes of the client and is not intended to provide specific advice or recommendations. Please review the contents of this information carefully. Should you have any questions regarding the information presented, calculation methodology, investment portfolio, security detail, or any other facet of this information, please feel free to contact us.

Public Trust Advisors, LLC (Public Trust) statements and reports are intended to detail our investment advisory activity as well as the activity of any client accounts managed by Public Trust. The custodian bank maintains the control of assets and executes and settles all investment transactions. The custodian statement is the official record of security and cash holdings transactions. Public Trust recognizes that clients may use these reports to facilitate record keeping; therefore, it is recommended that the client reconcile this information with their custodian bank statement. Many custodians use a settlement date basis that may result in the need to reconcile due to a timing difference. The underlying market value, amortized cost, and accrued interest may differ between the custodian and this statement or report. This can be attributable to differences in calculation methodologies and pricing sources used. Please contact your relationship manager or call us at (855) 395-3954 with questions regarding your account.

Public Trust does not have the authority to withdraw funds from or deposit funds to the custodian. Our clients retain responsibility for their internal accounting policies, implementing and enforcing internal controls, and generating ledger entries or otherwise recording transactions. The total market value represents prices obtained from various sources; it may be impacted by the frequency at which prices are reported, and such prices are not guaranteed. Prices received from pricing vendors are generally based on current market quotes but when such quotes are not available, the pricing vendors use a variety of techniques to estimate value. These estimates, particularly for fixed-income securities, may be based on certain minimum principal amounts (e.g. $1 million) and may not reflect all the factors that affect the value of the security including liquidity risk. The prices provided are not firm bids or offers. Certain securities may reflect N/A or unavailable where the price for such security is generally not available from a pricing source. The market value of a security, including those priced at par value, may differ from its purchase price and may not closely reflect the value at which the security may be sold or purchased based on various market factors. The securities in this investment portfolio, including shares of mutual funds, are not guaranteed or otherwise protected by Public Trust, the FDIC (except for certain non-negotiable certificates of deposit), or any government agency unless specifically stated otherwise.

Clients may be permitted to establish one or more unmanaged accounts for the purposes of client reporting. Public Trust defines an unmanaged account as one where the investment direction remains the sole responsibility of the client rather than the Investment Manager. These accounts do not receive ongoing supervision and monitoring services. The Investment Manager does not make any investment recommendations and may not charge a fee for reporting on these accounts. The primary purpose for this service is to include unmanaged accounts owned by the client in the performance reports provided by the Investment Manager. The Investment Manager assumes no liability for the underlying performance of any unmanaged accounts or assets, and it is the client’s sole responsibility for the accuracy or correctness of any such performance.

Beginning and ending balances are based on market value plus accrued interest on a trade date basis. Statements and reports made available to the end user either from Public Trust or through the online reporting platform may present information and portfolio analytics using various optional methods including, but not limited to, historical cost, amortized cost, and market value. All information is assumed to be correct, but the accuracy has not been confirmed and therefore is not guaranteed to be correct. Information is obtained from third party sources that may or may not be verified. The data in this report is unaudited and is only applicable for the date denoted on the report. Market values may change day-to-day based on numerous circumstances such as trading volume, news released about the underlying issuer, issuer performance, etc. Underlying market values may be priced via numerous aspects as certain securities are short term in nature and not readily traded. Performance results are shown net of all fees and expenses and reflect the reinvestment of dividends and other earnings.

Many factors affect performance including changes in market conditions and interest rates and in response to other economic, political, or financial developments. Investment involves risk including the possible loss of principal.

No assurance can be given that the performance objectives of a given strategy will be achieved. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses.

The investment advisor providing these services is Public Trust Advisors, LLC, an investment adviser registered with the U.S. Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940, as amended.

Registration with the SEC does not imply a certain level of skill or training. Public Trust is required to maintain a written disclosure brochure of our background and business experience. If you would like to receive a copy of our current disclosure brochure, Privacy Policy, or Code of Ethics, please contact us.

Disclaimers
Disclaimers

Page 142 of 533 ends

Contact
Regional Office
550 S. Hope Street, Suite 560
Los Angeles, CA 90071
Headquarters
717 17th Street, Suite 1850
Denver, CO 80202

Page 143 of 533 ends

07/01/2025 to 09/30/2025
City of Los Altos, CA
Investment Report

Page 144 of 533 ends

John Grady | Managing Director
[email protected]
Tim Palmer | SVP, Senior Portfolio Manager
[email protected]
Tom Tight | Managing Director
[email protected]
Jake Fitzpatrick | Portfolio Manager, Multisector
[email protected]
Relationship Managers Portfolio Manager
Relationship Management Team
Table of Contents
Executive Summary
• Portfolio Overview 3
• Maturity Distribution 4
• Maturity Distribution 5
• Rating Distribution 6
• Security Distribution – Market Value 7
• Security Distribution – Historical Cost 8
Supporting Reports
• Portfolio Holdings 9
• Transactions 17
• Income 24
• GASB 40 31
• Portfolio Activity Summary 46
Disclaimers

Page 145 of 533 ends

Public Trust Advisors 3
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Overview
06/30/25 09/30/25
Duration 0.508 0.364
Years to Effective Maturity 0.582 0.406
Years to Final Maturity 0.681 0.478
Coupon Rate 4.104 4.027
Book Yield 4.190 4.125
Market Yield 4.125 3.851
Benchmark Yield -- --
Portfolio Summary
Asset Allocation
Portfolio Characteristics
Summary 06/30/25 09/30/25
Historical Cost $53,547,502.96 $54,132,004.25
Book Value 53,620,957.25 54,225,411.42
Accrued Interest 380,538.66 345,183.14
Net Pending Transactions 56,177.74 74,026.88
Book Value Plus Accrued $54,057,673.65 $54,644,621.44
Net Unrealized Gain/Loss 97,519.20 126,711.53
Market Value Plus Accrued $54,155,192.85 $54,771,332.96 Period Income Income
Interest Income $575,173.21
Net Amortization/Accretion Income 11,774.66
Net Realized Gain/Loss (0.08)
Net Income $586,947.79
Income Summary
Detail may not add to total due to rounding.

Executive Summary

Page 146 of 533 ends

Public Trust Advisors 4
07/01/2025 to 09/30/2025
City of Los Altos, CA
Maturity Distribution by Security Type
Portfolio Overview
Issuer Value
Federated Hermes, Inc. 45.28%
United States 29.89%
Federal Home Loan Mortgage Corporation 5.85%
Wells Fargo & Company 1.07%
The Toronto-Dominion Bank 0.96%
Nordea Bank Abp 0.93%
ANZ Group Holdings Limited 0.93%
Coöperatieve Rabobank U.A. 0.89%
Bank of America Corporation 0.84%
Toyota Motor Corporation 0.81%
Top Ten Holdings Maturity Distribution by Type
Security Distribution 0-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years 5+ Years Portfolio Total ABS $137,982.86 $332,137.05 $525,126.53 $743,606.95 $1,449,485.81 -- -- -- -- $3,188,339.20 CASH 74,026.88 74,026.88
CD 1,038,926.61 909,671.51 1,948,598.13
CORP 820,135.64 503,856.41 847,600.76 921,214.11 1,312,964.31 4,405,771.23 FED INST (GSE) 164,113.77 531,046.88 1,627,361.33 1,079,816.23 157,419.19 3,559,757.40 MMFUND 24,803,076.07 24,803,076.07
US GOV 1,144,605.34 3,505,068.39 3,879,472.42 3,695,674.95 4,146,463.36 16,371,284.46 YANKEE 420,479.59 420,479.59
TOTAL $28,182,867.17 $5,292,588.33 $5,252,199.71 $7,897,528.86 $7,988,729.71 $157,419.19 -- -- -- $54,771,332.96 • Maturity Distribution

Page 147 of 533 ends

Public Trust Advisors 5
07/01/2025 to 09/30/2025
City of Los Altos, CA
WAL Distribution by Security Type
Portfolio Overview
Security
Distribution 0-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years 5+ Years Portfolio Total ABS $222,499.51 $1,000,224.58 $1,076,669.25 $716,483.55 $172,462.30 -- -- -- -- $3,188,339.20 TOTAL $222,499.51 $1,000,224.58 $1,076,669.25 $716,483.55 $172,462.30 -- -- -- -- $3,188,339.20 • Maturity Distribution
Issuer Value
Federated Hermes, Inc. 45.28%
United States 29.89%
Federal Home Loan Mortgage Corporation 5.85%
Wells Fargo & Company 1.07%
The Toronto-Dominion Bank 0.96%
Nordea Bank Abp 0.93%
ANZ Group Holdings Limited 0.93%
Coöperatieve Rabobank U.A. 0.89%
Bank of America Corporation 0.84%
Toyota Motor Corporation 0.81%
Top Ten Holdings WAL Distribution by Type

Page 148 of 533 ends

Public Trust Advisors 6
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Overview
S&P Rating Distribution Moody’s Rating Distribution
Allocation by Standard and Poor’s Rating Allocation by Moody’s Rating S&P Rating Distribution Sep 30, 2025
Ending Balance
Portfolio
Allocation
Short Term Rating Distribution
A-1+ $0.00 0.00%
A-1
A-2
Total Short Term Ratings $0.00 0.00%
Long Term Rating Distribution
AAA $27,298,133.22 49.84%
AA $21,099,507.40 38.52%
A $4,729,016.04 8.63%
Below A $604,080.38 1.10%
Not Rated $1,040,595.93 1.90%
Total Long Term Ratings $54,771,332.96 100.00%
Portfolio Total $54,771,332.96 100.00%
Moody's Rating Distribution Sep 30, 2025
Ending Balance
Portfolio
Allocation
Short Term Rating Distribution
P-1 $0.00 0.00%
P-2
Total Short Term Ratings $0.00 0.00%
Long Term Rating Distribution
Aaa $26,665,391.89 48.68%
Aa $23,255,787.98 42.46%
A $3,450,102.83 6.30%
Below A
Not Rated $1,400,050.26 2.56%
Total Long Term Ratings $54,771,332.96 100.00%
Portfolio Total $54,771,332.96 100.00%
• Rating Distribution

Page 149 of 533 ends

Public Trust Advisors 7
07/01/2025 to 09/30/2025
City of Los Altos, CA
Market Value Basis Security Distribution
Asset Balance by Security Type
Security Distribution Jun 30, 2025
Ending Balance
Jun 30, 2025
Portfolio Allocation
Sep 30, 2025
Ending Balance
Sep 30, 2025
Portfolio Allocation
Change in
Allocation Book Yield
Cash $56,177.74 0.10% $74,026.88 0.14% 0.03% 0.00%
U.S. Treasury Notes $18,589,424.74 34.33% $16,371,284.46 29.89% (4.44%) 4.27% Federal Instrumentality (GSE) 3,678,221.93 6.79% 3,559,757.40 6.50% (0.29%) 3.48% Money Market Funds $18,764,165.96 34.65% $24,803,076.07 45.28% 10.64% 3.76% Corporate Notes 6,858,204.51 12.66% 4,826,250.83 8.81% (3.85%) 4.96% Asset-Backed Securities 4,269,808.11 7.88% 3,188,339.20 5.82% (2.06%) 5.00% CD 1,939,189.86 3.58% 1,948,598.13 3.56% (0.02%) 5.45%
Portfolio Total $54,155,192.85 100.00% $54,771,332.96 100.00% 4.12% Portfolio Overview
• Security Distribution – Market Value

Page 150 of 533 ends

Public Trust Advisors 8
07/01/2025 to 09/30/2025
City of Los Altos, CA
Historic Cost Basis Security Distribution
Asset Balance by Security Type
Portfolio Overview
Security Distribution Jun 30, 2025
Ending Balance
Jun 30, 2025
Portfolio Allocation
Sep 30, 2025
Ending Balance
Sep 30, 2025
Portfolio Allocation
Change in
Allocation Book Yield
Cash $56,177.74 0.10% $74,026.88 0.14% 0.03% 0.00%
U.S. Treasury Notes $18,301,329.51 34.14% $16,099,191.81 29.70% (4.44%) 4.27% Federal Instrumentality (GSE) 3,669,114.59 6.84% 3,520,656.26 6.49% (0.35%) 3.48% Money Market Funds $18,764,165.96 35.01% $24,803,076.07 45.76% 10.75% 3.76% Corporate Notes 6,704,752.95 12.51% 4,694,255.35 8.66% (3.85%) 4.96% Asset-Backed Securities 4,258,139.96 7.94% 3,164,824.76 5.84% (2.11%) 5.00% CD 1,850,000.00 3.45% 1,850,000.00 3.41% (0.04%) 5.45%
Portfolio Total $53,603,680.70 100.00% $54,206,031.13 100.00% 4.12% • Security Distribution – Historical Cost

Page 151 of 533 ends

Public Trust Advisors 9
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Coupon
Effective
Maturity
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of Market
Value
Callable
Next Call Date
Book Yield
YTM
YTC
S&P
Moody's
CASH 0.00%
Receivable
CCYUSD

0.00%
09/30/25
09/30/25

0.00 --
-- 74,026.88 $74,026.88$74,026.88
$74,026.88

1.00 $74,026.88
$0.00 $0.00 0.14% N--

0.00%

0.00%
AAA
Aaa

CASH TOTAL
09/30/25
09/30/25

0.00 --
-- 74,026.88 $74,026.88$74,026.88
$74,026.88

1.00 $74,026.88
$0.00 $0.00 0.14% N--

0.00%

0.00%
AAA
Aaa
MMFUND 0.00%

FEDERATED HRMS TRS SVC
60934N872

3.75%
09/30/25
09/30/25

0.00 --
-- 24,803,076.07 $24,803,076.07$24,803,076.07
$24,803,076.07

1.00 $24,803,076.07
$0.00 $0.00 45.28% N--

3.76%
--
--
AAAm
Aaa

MMFUND TOTAL
09/30/25
09/30/25

0.00 --
-- 24,803,076.07 $24,803,076.07$24,803,076.07
$24,803,076.07

1.00 $24,803,076.07
$0.00 $0.00 45.28% N--

3.76%
--
--
AAAm
Aaa
US GOV 0.00%

UNITED STATES TREASURY
91282CFW6

4.50%
11/15/25
11/15/25

0.12 12/16/22
12/16/22 1,125,000.00 $1,140,468.75$1,125,682.63
$1,125,483.40
100.04
$1,144,605.34
$19,121.94 ($199.23) 2.09% N--

3.99%

4.09%
--
AA+
Aa1

UNITED STATES TREASURY
91282CGE5

3.88%
01/15/26
01/15/26

0.29 01/30/23
02/01/23 2,550,000.00 2,544,123.052,549,402.75
2,549,228.04

99.97 2,570,171.99
20,943.95 (174.71) 4.69% N--

3.96%

3.95%
--
AA+
Aa1

UNITED STATES TREASURY
91282CGL9

4.00%
02/15/26
02/15/26

0.37 03/02/23
03/03/23 930,000.00 913,725.00927,833.52
930,145.31
100.02
934,896.40
4,751.09 2,311.79 1.71% N--

4.64%

3.94%
--
AA+
Aa1

UNITED STATES TREASURY
91282CGV7

3.75%
04/15/26
04/15/26

0.52 05/01/23
05/03/23 1,150,000.00 1,147,349.611,149,497.64
1,149,483.40

99.96 1,169,396.31
19,912.91 (14.25) 2.14% N--

3.83%

3.83%
--
AA+
Aa1

UNITED STATES TREASURY
91282CHB0

3.63%
05/15/26
05/15/26

0.60 06/01/23
06/05/23 1,700,000.00 1,683,332.031,696,321.74
1,697,669.15

99.86 1,720,945.98
23,276.83 1,347.40 3.14% N--

3.98%

3.84%
--
AA+
Aa1

UNITED STATES TREASURY
91282CHH7

4.13%
06/15/26
06/15/26

0.68 06/29/23
06/29/23 975,000.00 965,478.52972,625.81
977,262.30
100.23
989,130.13
11,867.83 4,636.49 1.81% N--

4.48%

3.78%
--
AA+
Aa1

UNITED STATES TREASURY
91282CHM6

4.50%
07/15/26
07/15/26

0.77 08/01/23
08/03/23 1,550,000.00 1,547,517.581,549,315.10
1,558,633.98
100.56
1,573,417.95
14,783.97 9,318.88 2.87% N--

4.56%

3.77%
--
AA+
Aa1

UNITED STATES TREASURY
91282CHU8

4.38%
08/15/26
08/15/26

0.85 09/06/23
09/11/23 1,100,000.00 1,089,515.631,096,736.41
1,105,714.84
100.52
1,111,861.24
6,146.40 8,978.43 2.03% N--

4.73%

3.76%
--
AA+
Aa1
Portfolio Holdings
Supporting Reports

Page 152 of 533 ends

Public Trust Advisors 10
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Coupon
Effective
Maturity
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of Market
Value
Callable
Next Call Date
Book Yield
YTM
YTC
S&P
Moody's

UNITED STATES TREASURY
91282CHY0

4.63%
09/15/26
09/15/26

0.93 10/03/23
10/05/23 1,000,000.00 992,851.56997,576.47
1,008,351.56
100.84
1,010,395.76
2,044.20 10,775.09 1.84% N--

4.89%

3.73%
--
AA+
Aa1

UNITED STATES TREASURY
91282CJC6

4.63%
10/15/26
10/15/26

0.99 11/09/23
11/13/23 450,000.00 448,734.38449,536.14
454,160.74
100.92
463,770.88
9,610.14 4,624.60 0.85% N--

4.73%

3.71%
--
AA+
Aa1

UNITED STATES TREASURY
91282CJK8

4.63%
11/15/26
11/15/26

1.07 12/07/23
12/11/23 1,250,000.00 1,259,814.451,253,923.07
1,262,158.20
100.97
1,283,994.99
21,836.79 8,235.13 2.34% N--

4.34%

3.73%
--
AA+
Aa1

UNITED STATES TREASURY
91282CJP7

4.38%
12/15/26
12/15/26

1.15 --
-- 2,350,000.00 2,366,281.252,356,928.49
2,368,359.38
100.78
2,398,697.49
30,338.11 11,430.88 4.38% N--

4.12%

3.70%
--
AA+
Aa1

US GOV TOTAL
06/17/26
06/17/26

0.69 --
-- 16,130,000.00 $16,099,191.81$16,125,379.78
$16,186,650.30
100.35
$16,371,284.46
$184,634.17 $61,270.52 29.89% N--

4.27%

3.83%
--
AA+
Aa1
GSE MBS 0.00%
FHMS K-053 A2
3137BN6G4

3.00%
12/01/25
12/25/25

0.19 08/04/22
08/09/22 164,411.66 $162,517.07$163,973.80
$163,703.42

99.57 $164,113.77
$410.34 ($270.38) 0.30% Y--

3.33%
--
--
AA+
Aa1
FHMS K-054 A2
3137BNGT5

2.75%
01/01/26
01/25/26

0.29 --
-- 426,481.62 410,366.94423,859.39
424,078.10

99.44 425,053.67
975.58 218.71 0.78% Y--

4.24%
--
--
AA+
Aa1
FNA 2016-M03 A2
3136ARTE8

2.70%
02/01/26
02/25/26

0.31 08/31/22
09/06/22 106,482.94 180,485.66113,805.81
105,753.44

99.31 105,993.21
239.76 (8,052.37) 0.19% N--
(17.00%)
--
--
AA+
Aa1
FHMS K-736 A2
3137FNWX4

2.28%
07/01/26
07/25/26

0.68 10/05/23
10/11/23 239,814.32 222,512.09234,560.98
236,724.34

98.71 237,180.39
456.05 2,163.36 0.43% N--

5.33%
--
--
AA+
Aa1
FHMS K-057 A2
3137BRQJ7

2.57%
07/01/26
07/25/26

0.68 --
-- 477,869.18 449,383.71470,454.14
472,558.15

98.89 473,581.58
1,023.44 2,104.01 0.86% Y--

4.63%
--
--
AA+
Aa1
FHMS K-058 A2
3137BSP72

2.65%
08/01/26
08/25/26

0.84 04/06/23
04/12/23 400,000.00 383,156.25394,920.20
395,286.32

98.82 396,170.65
884.33 366.12 0.72% Y--

3.98%
--
--
AA+
Aa1
FHMS K-059 A2
3137BSRE5

3.12%
09/01/26
09/25/26

0.87 11/15/23
11/20/23 274,907.91 260,378.59269,592.56
272,572.23

99.15 273,286.99
714.76 2,979.67 0.50% Y--

5.16%
--
--
AAA
Aa1
FNA 2016-M12 A2
3136AUKX8

2.52%
09/01/26
09/25/26

0.68 11/20/23
11/27/23 250,320.12 254,259.37251,629.30
246,617.09

98.52 247,141.72
524.63 (5,012.21) 0.45% N--

0.00%
--
--
AA+
Aa1
Portfolio Holdings
Supporting Reports

Page 153 of 533 ends

Public Trust Advisors 11
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Coupon
Effective
Maturity
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of Market
Value
Callable
Next Call Date
Book Yield
YTM
YTC
S&P
Moody's
FHMS K-062 A2
3137BUX60

3.41%
12/01/26
12/25/26

1.14 --
-- 550,000.00 524,326.17538,865.96
546,269.35

99.32 547,833.64
1,564.29 7,403.39 1.00% N--

5.04%
--
--
AA+
Aa1
FHMS K-063 A2
3137BVZ82

3.43%
01/01/27
01/25/27

1.13 10/17/23
10/20/23 275,000.00 259,273.44268,388.66
273,249.43

99.36 274,035.47
786.04 4,860.77 0.50% Y--

5.40%
--
--
AA+
Aa1
FHMS K-065 A2
3137F1G44

3.24%
04/01/27
04/25/27

1.42 11/09/23
11/14/23 260,000.00 244,938.28252,747.46
257,244.47

98.94 257,947.12
702.65 4,497.01 0.47% Y--

5.11%
--
--
AA+
Aa1
FHMS K-092 A1
3137FLYU2

3.13%
06/01/28
10/25/28

1.42 10/25/23
10/30/23 158,986.42 169,058.69164,583.76
157,005.16

98.75 157,419.19
414.03 (7,578.60) 0.29% Y--

0.66%
--
--
AA+
Aa1

GSE MBS TOTAL
09/04/26
10/04/26

0.82 --
-- 3,584,274.17 $3,520,656.26$3,547,382.02
$3,551,061.50

99.07 $3,559,757.40
$8,695.90 $3,679.48 6.50% --

3.48%
--
--
AA+
Aa1
CORP 0.00%

AMERICAN HONDA FINANCE
CORP
02665WEQ0

5.80%
10/03/25
10/03/25

0.01 10/02/23
10/04/23 175,000.00 $174,837.25$174,999.53
$175,013.76
100.01
$180,032.37
$5,018.61 $14.23 0.33% N--

5.85%

4.72%
--
AA3

LOCKHEED MARTIN CORP
539830BU2

4.95%
10/12/25
10/15/25

0.03 --
-- 175,000.00 174,818.55174,996.87
175,020.56
100.01
179,014.94
3,994.38 23.70 0.33% Y10/12/25

5.00%

4.56%

4.43%
AA2

UNITEDHEALTH GROUP INC
91324PEN8

5.15%
10/15/25
10/15/25

0.04 10/25/22
10/28/22 80,000.00 79,992.8079,999.88
80,017.55
100.02
81,917.32
1,899.78 17.67 0.15% N--

5.15%

4.52%
--
A+
A2

BRISTOL-MYERS SQUIBB CO
110122DN5

0.75%
11/13/25
11/13/25

0.12 02/22/22
02/24/22 125,000.00 118,435.00124,786.19
124,489.44

99.59 124,848.81
359.38 (296.75) 0.23% Y10/13/25

2.23%

4.17%

12.08%
A
A2

AUSTRALIA AND NEW

ZEALAND BANKING GROUP

LTD (NEW Y
05254JAA8

5.09%
12/08/25
12/08/25

0.19 11/29/22
12/08/22 250,000.00 250,000.00250,000.00
250,329.52
100.13
254,322.19
3,992.67 329.52 0.46% N--

5.09%

4.32%
--
AAAa2

TOYOTA MOTOR CREDIT
CORP
89236TLJ2

4.80%
01/05/26
01/05/26

0.26 01/02/24
01/05/24 175,000.00 174,865.25174,981.80
175,243.80
100.14
177,250.47
2,006.67 262.00 0.32% N--

4.84%

4.22%
--
A+
A1
Portfolio Holdings
Supporting Reports

Page 154 of 533 ends

Public Trust Advisors 12
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Coupon
Effective
Maturity
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of Market
Value
Callable
Next Call Date
Book Yield
YTM
YTC
S&P
Moody's

CITIGROUP INC
172967KG5

3.70%
01/12/26
01/12/26

0.28 04/27/23
05/01/23 200,000.00 194,698.00199,421.59
199,647.72

99.82 201,271.61
1,623.89 226.13 0.37% N--

4.76%

4.29%
--
BBB+
A3

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP
63743HFH0

4.45%
02/13/26
03/13/26

0.37 02/03/23
02/09/23 125,000.00 124,536.25124,929.53
125,056.21
100.04
125,334.34
278.13 126.68 0.23% Y02/13/26

4.58%

4.34%

4.32%
AA2

BANK OF AMERICA CORP
06051GFX2

3.50%
04/19/26
04/19/26

0.53 05/11/23
05/16/23 175,000.00 170,066.75174,024.60
174,452.71

99.69 177,208.96
2,756.25 428.11 0.32% N--

4.54%

4.07%
--
AA1

WELLS FARGO & CO
949746RW3

3.00%
04/22/26
04/22/26

0.54 03/28/23
03/30/23 200,000.00 188,176.00197,710.23
198,836.79

99.42 201,486.79
2,650.00 1,126.56 0.37% N--

5.11%

4.06%
--
BBB+
A1

CATERPILLAR FINANCIAL

SERVICES CORP
14913UAA8

4.35%
05/15/26
05/15/26

0.60 05/08/23
05/15/23 250,000.00 249,882.50249,974.45
250,722.28
100.29
254,830.61
4,108.33 747.83 0.47% N--

4.37%

3.87%
--
A
A2

TOYOTA MOTOR CREDIT
CORP
89236TKT1

4.45%
05/18/26
05/18/26

0.61 05/15/23
05/18/23 210,000.00 209,878.20209,973.13
210,621.94
100.30
214,074.40
3,452.46 648.81 0.39% N--

4.47%

3.96%
--
A+
A1

AMERICAN HONDA FINANCE
CORP
02665WEK3

5.25%
07/07/26
07/07/26

0.74 --
-- 200,000.00 199,730.80199,928.27
201,692.89
100.85
204,142.89
2,450.00 1,764.62 0.37% N--

5.30%

4.11%
--
AA3

STATE STREET CORP
857477CD3

5.27%
07/04/26
08/03/26

0.73 07/31/23
08/03/23 200,000.00 200,000.00200,000.00
201,894.97
100.95
203,593.73
1,698.76 1,894.97 0.37% Y07/04/26

5.27%

4.11%

3.99%
A
Aa3

PACCAR FINANCIAL CORP
69371RS56

5.05%
08/10/26
08/10/26

0.83 08/03/23
08/10/23 125,000.00 124,937.50124,981.22
126,242.34
100.99
127,136.61
894.27 1,261.13 0.23% N--

5.07%

3.86%
--
A+
A1

BANK OF AMERICA NA
06428CAA2

5.53%
07/18/26
08/18/26

0.77 08/14/23
08/18/23 275,000.00 275,000.00275,000.00
278,421.12
101.24
280,236.25
1,815.14 3,421.12 0.51% Y07/18/26

5.53%

4.07%

3.93%
A+
Aa2

HOME DEPOT INC
437076CV2

4.95%
08/30/26
09/30/26

0.89 11/27/23
12/04/23 105,000.00 104,770.05104,912.33
106,090.19
101.04
106,104.63

14.44 1,177.87 0.19% Y08/30/26

5.04%

3.88%

3.79%
A
A2

PEPSICO INC
713448FW3

5.13%
10/10/26
11/10/26

0.98 11/08/23
11/10/23 65,000.00 64,982.4564,993.25
65,854.74
101.31
67,159.48
1,304.74 861.49 0.12% Y10/10/26

5.13%

3.90%

3.81%
A+
A1
Portfolio Holdings
Supporting Reports

Page 155 of 533 ends

Public Trust Advisors 13
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Coupon
Effective
Maturity
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of Market
Value
Callable
Next Call Date
Book Yield
YTM
YTC
S&P
Moody's

GOLDMAN SACHS GROUP
INC
38145GAH3

3.50%
11/16/26
11/16/26

0.95 08/07/23
08/09/23 200,000.00 188,710.00195,896.52
198,696.97

99.35 201,321.97
2,625.00 2,800.46 0.37% Y11/16/25

5.41%

4.09%

8.54%
BBB+
A2

WELLS FARGO BANK NA
94988J6F9

5.25%
11/10/26
12/11/26

1.06 12/04/23
12/11/23 375,000.00 375,000.00375,000.00
380,388.22
101.44
386,408.43
6,020.21 5,388.22 0.71% Y11/10/26

5.25%

4.01%

3.92%
A+
Aa2

JOHN DEERE CAPITAL CORP
24422EXF1

4.50%
01/08/27
01/08/27

1.22 01/02/24
01/08/24 200,000.00 199,778.00199,902.57
201,576.78
100.79
203,651.78
2,075.00 1,674.20 0.37% N--

4.54%

3.85%
--
A
A1

AUSTRALIA AND NEW

ZEALAND BANKING GROUP

LTD (NEW Y
05253JAZ4

4.75%
01/18/27
01/18/27

1.24 01/08/24
01/18/24 250,000.00 250,000.00250,000.00
252,630.38
101.05
255,038.36
2,407.99 2,630.38 0.47% N--

4.75%

3.91%
--
AAAa2

COMCAST CORP
20030NBY6

3.30%
02/01/27
02/01/27

1.24 10/31/23
11/02/23 200,000.00 186,160.00194,015.19
198,284.29

99.14 199,384.29
1,100.00 4,269.10 0.36% Y11/01/26

5.66%

3.96%

4.12%
AA3

CORP TOTAL
06/10/26
06/18/26

0.66 --
-- 4,335,000.00 $4,279,255.35$4,320,427.13
$4,351,225.17
100.38
$4,405,771.23
$54,546.06 $30,798.04 8.04% --

4.96%

4.11%

5.05%
A
A1
CD 0.00%
Toronto-Dominion Bank - New
York Branch
89115B6K1

5.60%
10/27/25
10/27/25

0.07 10/27/22
10/31/22 500,000.00 $500,000.00$500,000.00
$500,492.00
100.10
$527,014.22
$26,522.22 $492.00 0.96% N--

5.60%

4.10%
--
A+
Aa1
Nordea ABP - New York Branch
65558UYF3

5.53%
11/03/25
11/03/25

0.09 11/02/22
11/03/22 500,000.00 500,000.00500,000.00
500,314.75
100.06
511,912.39
11,597.64 314.75 0.93% N--

5.53%

4.80%
--
AAAa3
Coöperatieve Rabobank U.A.,
New York Branch
21684LGS5

5.08%
07/17/26
07/17/26

0.78 07/17/23
07/20/23 475,000.00 475,000.00475,000.00
480,646.85
101.19
485,740.96
5,094.11 5,646.85 0.89% N--

5.08%

3.56%
--
A+
Aa2
Natixis, New York Branch
63873QP65

5.61%
09/18/26
09/18/26

0.93 09/18/23
09/20/23 375,000.00 375,000.00375,000.00
381,163.91
101.64
423,930.56
42,766.64 6,163.91 0.77% N--

5.61%

3.45%
--
A+
A1

CD TOTAL
03/14/26
03/14/26

0.44 --
-- 1,850,000.00 $1,850,000.00$1,850,000.00
$1,862,617.51
100.70
$1,948,598.13
$85,980.62 $12,617.51 3.56% N--

5.45%

4.01%
--
A+
Aa3
ABS 0.00%
Portfolio Holdings
Supporting Reports

Page 156 of 533 ends

Public Trust Advisors 14
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Coupon
Effective
Maturity
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of Market
Value
Callable
Next Call Date
Book Yield
YTM
YTC
S&P
Moody's
BACCT 2023-1 A
05522RDG0

4.79%
05/15/26
05/15/26

0.60 06/08/23
06/16/23 120,000.00 $119,972.83$119,994.03
$120,598.10
100.50
$120,853.57
$255.47 $604.07 0.22% Y--

4.85%

4.01%
--
AAA
NA
AMXCA 2023-1 A
02582JJZ4

4.87%
05/15/26
05/15/26

0.60 06/07/23
06/14/23 140,000.00 139,987.58139,996.92
140,760.79
100.54
141,063.81
303.02 763.87 0.26% Y--

4.92%

4.02%
--
AAA
NA
TAOT 2022-B A3
89238FAD5

2.93%
11/15/25
09/15/26

0.04 04/07/22
04/13/22 5,148.89 5,248.385,152.20
5,145.90

99.94 5,152.61

6.71 (6.30) 0.01% Y--

1.29%
--
--
AAA
Aaa
BACCT 2023-2 A
05522RDH8

4.98%
11/16/26
11/16/26

1.08 12/07/23
12/14/23 170,000.00 169,977.17169,990.40
172,086.04
101.23
172,462.30
376.27 2,095.64 0.31% Y--

5.04%

3.90%
--
NA
Aaa
ALLYA 2022-1 A3
02008JAC0

3.31%
10/15/25
11/16/26

0.04 05/10/22
05/18/22 106.72 118.67106.86
106.68

99.96 106.84

0.16 (0.18) 0.00% Y--

0.07%
--
--
AAA
Aaa
GMCAR 2022-2 A3
362585AC5

3.10%
01/16/26
02/16/27

0.12 04/05/22
04/13/22 10,919.90 10,917.6110,919.75
10,906.40

99.88 10,920.50

14.10 (13.36) 0.02% Y--

3.13%
--
--
AAA
Aaa
CARMX 2022-2 A3
14317HAC5

3.49%
12/15/25
02/16/27

0.09 04/21/22
04/28/22 12,416.82 13,312.0712,457.11
12,409.55

99.94 12,428.81

19.26 (47.56) 0.02% Y--
(0.13%)
--
--
AAA
Aaa
TAOT 2022-C A3
89231CAD9

3.76%
05/15/26
04/15/27

0.28 08/08/22
08/16/22 28,300.18 28,295.4528,299.62
28,267.05

99.88 28,314.34

47.29 (32.57) 0.05% Y--

3.80%
--
--
AAA
NA
CARMX 2022-3 A3
14318MAD1

3.97%
04/15/26
04/15/27

0.24 07/12/22
07/20/22 53,219.24 53,217.9853,219.10
53,187.88

99.94 53,281.79

93.90 (31.22) 0.10% Y--

4.00%
--
--
AAA
NA
GMCAR 2022-3 A3
36265WAD5

3.64%
02/16/26
04/16/27

0.14 07/06/22
07/13/22 20,299.48 20,299.3420,299.47
20,283.58

99.92 20,314.37

30.79 (15.89) 0.04% Y--

3.67%
--
--
NA
Aaa
ALLYA 2022-2 A3
02008MAC3

4.76%
04/15/26
05/17/27

0.25 10/04/22
10/12/22 87,053.35 87,052.2787,053.24
87,142.30
100.10
87,326.46
184.17 89.06 0.16% Y--

4.81%
--
--
AAA
Aaa
NAROT 2022-B A3
65480JAC4

4.46%
08/15/26
05/17/27

0.42 09/20/22
09/28/22 76,523.87 76,508.0476,521.08
76,597.57
100.10
76,749.26
151.69 76.49 0.14% Y--

4.51%
--
--
AAA
Aaa
HART 2022-C A3
44933DAD3

5.39%
05/15/26
06/15/27

0.30 11/01/22
11/09/22 93,706.02 93,705.5893,706.00
94,062.08
100.38
94,286.56
224.48 356.08 0.17% Y--

5.45%
--
--
AAA
NA
Portfolio Holdings
Supporting Reports

Page 157 of 533 ends

Public Trust Advisors 15
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Coupon
Effective
Maturity
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of Market
Value
Callable
Next Call Date
Book Yield
YTM
YTC
S&P
Moody's
CARMX 2022-4 A3
14318UAD3

5.34%
07/15/26
08/16/27

0.36 10/26/22
10/31/22 95,572.79 95,550.3895,569.14
95,927.21
100.37
96,154.04
226.83 358.08 0.18% Y--

5.41%
--
--
AAA
NA
MBART 2022-1 A3
58768PAC8

5.21%
08/15/26
08/16/27

0.39 11/15/22
11/22/22 110,925.76 110,903.82110,921.76
111,340.60
100.37
111,597.46
256.85 418.84 0.20% Y--

5.28%
--
--
AAA
Aaa
TAOT 2023-A A3
891940AC2

4.63%
10/15/26
09/15/27

0.46 01/24/23
01/30/23 78,892.41 78,892.3778,892.37
79,058.53
100.21
79,220.87
162.34 166.16 0.14% Y--

4.67%
--
--
AAA
NA
TAOT 2022-D A3
89239HAD0

5.30%
10/15/26
09/15/27

0.46 11/01/22
11/08/22 51,639.50 51,634.4051,638.59
51,897.48
100.50
52,019.12
121.64 258.89 0.09% Y--

5.36%
--
--
NA
Aaa
AMXCA 2022-4 A
02582JJX9

4.95%
10/15/25
10/15/27

0.04 10/27/22
11/03/22 120,000.00 119,994.05119,999.92
120,030.61
100.03
120,294.61
264.00 30.69 0.22% Y--

5.00%

4.37%
--
AAA
NA
NAROT 2023-A A3
65480WAD3

4.91%
12/15/26
11/15/27

0.53 04/18/23
04/26/23 124,134.44 124,112.51124,129.17
124,522.51
100.31
124,793.40
270.89 393.34 0.23% Y--

4.97%
--
--
NA
Aaa
HAROT 2023-2 A3
437927AC0

4.93%
01/15/27
11/15/27

0.58 05/23/23
05/30/23 110,948.42 110,930.45110,944.01
111,453.58
100.46
111,696.68
243.10 509.57 0.20% Y--

4.99%
--
--
AAA
Aaa
HDMOT 2023-A A3
41285JAD0

5.05%
09/15/26
12/15/27

0.43 02/13/23
02/23/23 73,246.28 73,238.9173,244.83
73,489.89
100.33
73,654.29
164.40 245.07 0.13% Y--

5.11%
--
--
NA
Aaa
TAOT 2023-B A3
891941AD8

4.71%
04/15/27
02/15/28

0.63 05/16/23
05/23/23 136,438.15 136,430.52136,436.10
136,932.53
100.36
137,218.15
285.61 496.43 0.25% Y--

4.76%
--
--
NA
Aaa
FORDO 2023-A A3
344928AD8

4.65%
01/15/27
02/15/28

0.56 03/28/23
03/31/23 68,066.81 68,059.7168,065.09
68,250.43
100.27
68,391.10
140.67 185.34 0.12% Y--

4.70%
--
--
AAA
NA
GMCAR 2023-2 A3
362583AD8

4.47%
01/16/27
02/16/28

0.56 04/04/23
04/12/23 75,801.44 75,799.3575,800.95
75,937.78
100.18
76,078.96
141.18 136.83 0.14% Y--

4.51%
--
--
AAA
Aaa
BMWOT 2023-A A3
05592XAD2

5.47%
02/25/27
02/25/28

0.61 07/11/23
07/18/23 49,207.38 49,198.6649,205.02
49,554.92
100.71
49,599.78

44.86 349.90 0.09% Y--

5.54%
--
--
AAA
NA
NAROT 2023-B A3
65480MAD5

5.93%
04/15/27
03/15/28

0.62 10/18/23
10/25/23 82,911.86 82,895.0382,906.89
83,617.41
100.85
83,835.93
218.52 710.52 0.15% Y--

6.01%
--
--
NA
Aaa
Portfolio Holdings
Supporting Reports

Page 158 of 533 ends

Public Trust Advisors 16
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Coupon
Effective
Maturity
Final Maturity
Duration
Trade Date
Settle Date
Par Value Original Cost
Book Value
Market Value
Market Price
MV + Accrued
Accrued Balance
Net Unrealized
Gain/Loss
% of Market
Value
Callable
Next Call Date
Book Yield
YTM
YTC
S&P
Moody's
DCENT 2023-1 A
254683CY9

4.31%
03/16/26
03/15/28

0.45 04/04/23
04/11/23 300,000.00 299,982.60299,996.70
300,327.51
100.11
300,902.18
574.67 330.81 0.55% Y--

4.35%

4.10%
--
NA
Aaa
HART 2023-B A3
44933XAD9

5.48%
03/15/27
04/17/28

0.62 07/11/23
07/19/23 51,334.28 51,332.0651,333.66
51,712.94
100.74
51,837.97
125.03 379.29 0.09% Y--

5.54%
--
--
AAA
NA
FORDO 2023-B A3
344930AD4

5.23%
05/15/27
05/15/28

0.68 06/21/23
06/26/23 110,241.40 110,239.91110,240.92
111,043.66
100.73
111,299.91
256.25 802.73 0.20% Y--

5.29%
--
--
AAA
NA
GMCAR 2023-3 A3
36267KAD9

5.45%
06/16/27
06/16/28

0.71 07/11/23
07/19/23 54,043.25 54,041.1754,042.60
54,487.11
100.82
54,609.83
122.72 444.50 0.10% Y--

5.51%
--
--
AAA
Aaa
HAROT 2023-4 A3
438123AC5

5.67%
09/21/27
06/21/28

0.81 11/01/23
11/08/23 74,398.77 74,385.6774,394.46
75,279.02
101.18
75,396.20
117.18 884.56 0.14% Y--

5.74%
--
--
NA
Aaa
FITAT 2023-1 A3
31680EAD3

5.53%
07/15/27
08/15/28

0.76 08/15/23
08/23/23 198,707.89 198,695.57198,703.78
200,537.23
100.92
201,025.61
488.38 1,833.45 0.37% Y--

5.60%
--
--
AAA
Aaa
CHAIT 2023-1 A
161571HT4

5.16%
09/15/26
09/15/28

0.92 09/07/23
09/15/23 380,000.00 379,894.66379,964.67
384,580.44
101.21
385,451.91
871.47 4,615.77 0.70% Y--

5.23%
--
--
AAA
NR

ABS TOTAL
10/05/26
11/14/27

0.58 --
-- 3,164,205.29 $3,164,824.76$3,164,146.42
$3,181,535.32
100.55
$3,188,339.20
$6,803.88 $17,388.90 5.82% Y--

5.00%

4.07%
--
AAA
Aaa
YANKEE 0.00%

NATIONAL AUSTRALIA BANK

LTD (NEW YORK BRANCH)
63253QAA2

4.97%
01/12/26
01/12/26

0.28 01/04/23
01/12/23 415,000.00 $415,000.00$415,000.00
$415,957.09
100.23
$420,479.59
$4,522.51 $957.09 0.77% N--

4.97%

4.10%
--
AAAa2

YANKEE TOTAL
01/12/26
01/12/26

0.28 01/04/23
01/12/23 415,000.00 $415,000.00$415,000.00
$415,957.09
100.23
$420,479.59
$4,522.51 $957.09 0.77% N--

4.97%

4.10%
--
AAAa2

PORTFOLIO TOTAL
02/25/26
03/23/26

0.36 --
-- 54,355,582.40 $54,206,031.13$54,299,438.30
$54,426,149.83

55.17 $54,771,332.96
$345,183.14 $126,711.53 100.00% --

4.12%

3.89%

4.86%
AA
Aa1
Portfolio Holdings
Supporting Reports

Page 159 of 533 ends

Public Trust Advisors 17
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Current Units Type Trade Date Settle Date Price Principal Realized Gain/Loss
Broker Amount

UNITED STATES TREASURY
91282CEY3
(1,625,000.00) Maturity 07/15/25 07/15/25 100.000 ($1,625,000.00) $0.00 Maturity $1,625,000.00

JPMORGAN CHASE & CO
46625HMN7
(225,000.00) Maturity 07/15/25 07/15/25 100.000 (225,000.00) 0.00 Maturity 225,000.00

MORGAN STANLEY
6174468C6
(85,000.00) Maturity 07/23/25 07/23/25 100.000 (85,000.00) 0.00 Maturity 85,000.00

INTERNATIONAL BUSINESS MACHINES CORP
459200KS9
(375,000.00) Maturity 07/27/25 07/27/25 100.000 (375,000.00) 0.00 Maturity 375,000.00

INTEL CORP
458140AS9
(200,000.00) Maturity 07/29/25 07/29/25 100.000 (200,000.00) 0.00 Maturity 200,000.00

BANK OF AMERICA CORP
06051GFS3
(225,000.00) Maturity 08/01/25 08/01/25 100.000 (225,000.00) 0.00 Maturity 225,000.00

COLGATE-PALMOLIVE CO
194162AM5
(55,000.00) Maturity 08/15/25 08/15/25 100.000 (55,000.00) 0.00 Maturity 55,000.00

WALMART INC
931142EW9
(150,000.00) Maturity 09/09/25 09/09/25 100.000 (150,000.00) 0.00 Maturity 150,000.00

COMMONWEALTH BANK OF AUSTRALIA (NEW

YORK BRANCH)
20271RAS9
(250,000.00) Maturity 09/12/25 09/12/25 100.000 (250,000.00) 0.00 Maturity 250,000.00

UNITED STATES TREASURY
91282CFK2
(600,000.00) Maturity 09/15/25 09/15/25 100.000 (600,000.00) 0.00 Maturity 600,000.00

HOME DEPOT INC
437076CR1
(55,000.00) Maturity 09/15/25 09/15/25 100.000 (55,000.00) 0.00 Maturity 55,000.00 Maturity Total ($3,845,000.00) $0.00 $3,845,000.00

BANK OF NEW YORK MELLON CORP
06406RBJ5
(250,000.00) Call
Redemption
07/24/25 07/24/25 100.000 ($250,000.00) $0.00 Redemption $250,000.00

TRUIST FINANCIAL CORP
89788MAH5
(130,000.00) Call
Redemption
07/28/25 07/28/25 100.000 (130,000.00) 0.00 Redemption 130,000.00 Call Redemption Total ($380,000.00) $0.00 $380,000.00
FHMS K-092 A1
3137FLYU2
(4,241.85) Principal
Paydown
07/01/25 07/01/25 ($4,241.85) $0.00 Direct $4,241.85
FHMS K-736 A2
3137FNWX4
(400.02) Principal
Paydown
07/01/25 07/01/25 (400.02) (0.00) Direct 400.02
FNA 2016-M03 A2
3136ARTE8
(11,027.65) Principal
Paydown
07/01/25 07/01/25 (11,027.65) 0.00 Direct 11,027.65
FHMS K-057 A2
3137BRQJ7
(14,241.82) Principal
Paydown
07/01/25 07/01/25 (14,241.82) (0.00) Direct 14,241.82
FNA 2016-M12 A2
3136AUKX8
(536.24) Principal
Paydown
07/01/25 07/01/25 (536.23) (0.01) Direct 536.23
Transactions

Page 160 of 533 ends

Public Trust Advisors 18
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Current Units Type Trade Date Settle Date Price Principal Realized Gain/Loss
Broker Amount
FHMS K-053 A2
3137BN6G4
(346.84) Principal
Paydown
07/01/25 07/01/25 (346.84) (0.00) Direct 346.84
FHMS K-054 A2
3137BNGT5
(10,079.95) Principal
Paydown
07/01/25 07/01/25 (10,079.94) (0.01) Direct 10,079.94
HDMOT 2022-A A3
41284YAD8
(8,657.99) Principal
Paydown
07/15/25 07/15/25 (8,657.99) 0.00 Direct 8,657.99
NAROT 2023-B A3
65480MAD5
(5,195.24) Principal
Paydown
07/15/25 07/15/25 (5,195.24) (0.00) Direct 5,195.24
FORDO 2023-A A3
344928AD8
(7,011.45) Principal
Paydown
07/15/25 07/15/25 (7,011.46) 0.01 Direct 7,011.46
HART 2022-C A3
44933DAD3
(16,205.96) Principal
Paydown
07/15/25 07/15/25 (16,205.97) 0.01 Direct 16,205.97
FITAT 2023-1 A3
31680EAD3
(15,524.75) Principal
Paydown
07/15/25 07/15/25 (15,524.75) 0.00 Direct 15,524.75
DCENT 2022-3 A
254683CW3
(300,000.00) Principal
Paydown
07/15/25 07/15/25 (300,000.00) 0.00 Direct 300,000.00
HDMOT 2023-A A3
41285JAD0
(8,867.00) Principal
Paydown
07/15/25 07/15/25 (8,867.00) (0.00) Direct 8,867.00
CARMX 2022-4 A3
14318UAD3
(13,140.56) Principal
Paydown
07/15/25 07/15/25 (13,140.56) (0.00) Direct 13,140.56
TAOT 2023-B A3
891941AD8
(10,923.58) Principal
Paydown
07/15/25 07/15/25 (10,923.58) (0.00) Direct 10,923.58
ALLYA 2022-1 A3
02008JAC0
(8,669.38) Principal
Paydown
07/15/25 07/15/25 (8,669.38) (0.00) Direct 8,669.38
MBART 2022-1 A3
58768PAC8
(16,781.18) Principal
Paydown
07/15/25 07/15/25 (16,781.18) (0.00) Direct 16,781.18
TAOT 2022-C A3
89231CAD9
(4,816.29) Principal
Paydown
07/15/25 07/15/25 (4,816.29) 0.00 Direct 4,816.29
HART 2022-A A3
448977AD0
(5,422.45) Principal
Paydown
07/15/25 07/15/25 (5,422.45) 0.00 Direct 5,422.45
CARMX 2022-2 A3
14317HAC5
(6,987.43) Principal
Paydown
07/15/25 07/15/25 (6,987.43) (0.00) Direct 6,987.43
COPAR 2021-1 A3
14044CAC6
(1,916.36) Principal
Paydown
07/15/25 07/15/25 (1,916.35) (0.01) Direct 1,916.35
NAROT 2022-B A3
65480JAC4
(9,454.75) Principal
Paydown
07/15/25 07/15/25 (9,454.75) 0.00 Direct 9,454.75
TAOT 2022-B A3
89238FAD5
(5,555.23) Principal
Paydown
07/15/25 07/15/25 (5,555.23) (0.00) Direct 5,555.23
Transactions

Page 161 of 533 ends

Public Trust Advisors 19
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Current Units Type Trade Date Settle Date Price Principal Realized Gain/Loss
Broker Amount
HART 2023-B A3
44933XAD9
(4,477.22) Principal
Paydown
07/15/25 07/15/25 (4,477.22) 0.00 Direct 4,477.22
TAOT 2022-D A3
89239HAD0
(5,421.76) Principal
Paydown
07/15/25 07/15/25 (5,421.76) (0.00) Direct 5,421.76
CARMX 2022-3 A3
14318MAD1
(11,246.28) Principal
Paydown
07/15/25 07/15/25 (11,246.28) 0.00 Direct 11,246.28
TAOT 2023-A A3
891940AC2
(8,326.19) Principal
Paydown
07/15/25 07/15/25 (8,326.19) 0.00 Direct 8,326.19
ALLYA 2022-2 A3
02008MAC3
(18,887.33) Principal
Paydown
07/15/25 07/15/25 (18,887.32) (0.01) Direct 18,887.32
HAROT 2023-2 A3
437927AC0
(10,271.09) Principal
Paydown
07/15/25 07/15/25 (10,271.08) (0.01) Direct 10,271.08
NAROT 2023-A A3
65480WAD3
(13,257.92) Principal
Paydown
07/15/25 07/15/25 (13,257.92) (0.00) Direct 13,257.92
FORDO 2023-B A3
344930AD4
(9,643.07) Principal
Paydown
07/15/25 07/15/25 (9,643.07) 0.00 Direct 9,643.07
GMCAR 2022-2 A3
362585AC5
(4,933.11) Principal
Paydown
07/16/25 07/16/25 (4,933.11) 0.00 Direct 4,933.11
GMCAR 2021-4 A3
362554AC1
(252.04) Principal
Paydown
07/16/25 07/16/25 (252.01) (0.03) Direct 252.01
GMCAR 2023-3 A3
36267KAD9
(4,427.89) Principal
Paydown
07/16/25 07/16/25 (4,427.89) (0.00) Direct 4,427.89
GMCAR 2022-1 A3
380146AC4
(3,386.86) Principal
Paydown
07/16/25 07/16/25 (3,386.84) (0.02) Direct 3,386.84
GMCAR 2023-2 A3
362583AD8
(7,858.25) Principal
Paydown
07/16/25 07/16/25 (7,858.25) (0.00) Direct 7,858.25
GMCAR 2022-3 A3
36265WAD5
(7,517.13) Principal
Paydown
07/16/25 07/16/25 (7,517.12) (0.01) Direct 7,517.12
BMWOT 2023-A A3
05592XAD2
(4,968.34) Principal
Paydown
07/25/25 07/25/25 (4,968.34) 0.00 Direct 4,968.34
BMWOT 2022-A A3
05602RAD3
(4,451.95) Principal
Paydown
07/25/25 07/25/25 (4,451.95) 0.00 Direct 4,451.95
FHMS K-736 A2
3137FNWX4
(376.61) Principal
Paydown
08/01/25 08/01/25 (376.61) (0.00) Direct 376.61
FHMS K-054 A2
3137BNGT5
(866.90) Principal
Paydown
08/01/25 08/01/25 (866.89) (0.01) Direct 866.89
FNA 2016-M03 A2
3136ARTE8
(3,562.75) Principal
Paydown
08/01/25 08/01/25 (3,562.75) 0.01 Direct 3,562.75
Transactions

Page 162 of 533 ends

Public Trust Advisors 20
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Current Units Type Trade Date Settle Date Price Principal Realized Gain/Loss
Broker Amount
FHMS K-057 A2
3137BRQJ7
(1,219.82) Principal
Paydown
08/01/25 08/01/25 (1,219.82) 0.00 Direct 1,219.82
FHMS K-092 A1
3137FLYU2
(3,898.75) Principal
Paydown
08/01/25 08/01/25 (3,898.75) 0.00 Direct 3,898.75
FHMS K-053 A2
3137BN6G4
(24,731.68) Principal
Paydown
08/01/25 08/01/25 (24,731.67) (0.01) Direct 24,731.67
FNA 2016-M12 A2
3136AUKX8
(15,087.07) Principal
Paydown
08/01/25 08/01/25 (15,087.07) 0.00 Direct 15,087.07
CARMX 2022-4 A3
14318UAD3
(14,441.76) Principal
Paydown
08/15/25 08/15/25 (14,441.76) 0.00 Direct 14,441.76
FITAT 2023-1 A3
31680EAD3
(15,483.03) Principal
Paydown
08/15/25 08/15/25 (15,483.03) (0.00) Direct 15,483.03
TAOT 2022-D A3
89239HAD0
(5,274.61) Principal
Paydown
08/15/25 08/15/25 (5,274.61) 0.00 Direct 5,274.61
NAROT 2023-B A3
65480MAD5
(8,967.90) Principal
Paydown
08/15/25 08/15/25 (8,967.90) 0.00 Direct 8,967.90
ALLYA 2022-1 A3
02008JAC0
(8,706.13) Principal
Paydown
08/15/25 08/15/25 (8,706.13) (0.00) Direct 8,706.13
NAROT 2023-A A3
65480WAD3
(15,626.63) Principal
Paydown
08/15/25 08/15/25 (15,626.63) 0.00 Direct 15,626.63
TAOT 2023-A A3
891940AC2
(8,397.03) Principal
Paydown
08/15/25 08/15/25 (8,397.03) (0.00) Direct 8,397.03
FORDO 2023-A A3
344928AD8
(7,184.37) Principal
Paydown
08/15/25 08/15/25 (7,184.37) (0.00) Direct 7,184.37
FORDO 2023-B A3
344930AD4
(9,370.68) Principal
Paydown
08/15/25 08/15/25 (9,370.68) 0.00 Direct 9,370.68
CARMX 2022-2 A3
14317HAC5
(7,282.15) Principal
Paydown
08/15/25 08/15/25 (7,282.15) (0.00) Direct 7,282.15
CARMX 2022-3 A3
14318MAD1
(11,686.02) Principal
Paydown
08/15/25 08/15/25 (11,686.02) 0.00 Direct 11,686.02
NAROT 2022-B A3
65480JAC4
(11,171.46) Principal
Paydown
08/15/25 08/15/25 (11,171.46) 0.00 Direct 11,171.46
HDMOT 2022-A A3
41284YAD8
(8,774.61) Principal
Paydown
08/15/25 08/15/25 (8,774.61) (0.00) Direct 8,774.61
HART 2022-C A3
44933DAD3
(16,339.04) Principal
Paydown
08/15/25 08/15/25 (16,339.04) (0.00) Direct 16,339.04
TAOT 2023-B A3
891941AD8
(11,165.71) Principal
Paydown
08/15/25 08/15/25 (11,165.71) (0.00) Direct 11,165.71
Transactions

Page 163 of 533 ends

Public Trust Advisors 21
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Current Units Type Trade Date Settle Date Price Principal Realized Gain/Loss
Broker Amount
HART 2023-B A3
44933XAD9
(4,569.79) Principal
Paydown
08/15/25 08/15/25 (4,569.79) 0.00 Direct 4,569.79
HART 2022-A A3
448977AD0
(3,712.39) Principal
Paydown
08/15/25 08/15/25 (3,712.37) (0.02) Direct 3,712.37
MBART 2022-1 A3
58768PAC8
(16,296.19) Principal
Paydown
08/15/25 08/15/25 (16,296.19) 0.00 Direct 16,296.19
TAOT 2022-C A3
89231CAD9
(4,864.88) Principal
Paydown
08/15/25 08/15/25 (4,864.88) (0.00) Direct 4,864.88
ALLYA 2022-2 A3
02008MAC3
(19,776.46) Principal
Paydown
08/15/25 08/15/25 (19,776.47) 0.01 Direct 19,776.47
HAROT 2023-2 A3
437927AC0
(10,097.34) Principal
Paydown
08/15/25 08/15/25 (10,097.34) 0.00 Direct 10,097.34
HDMOT 2023-A A3
41285JAD0
(9,032.45) Principal
Paydown
08/15/25 08/15/25 (9,032.45) 0.00 Direct 9,032.45
TAOT 2022-B A3
89238FAD5
(5,521.92) Principal
Paydown
08/15/25 08/15/25 (5,521.92) 0.00 Direct 5,521.92
GMCAR 2022-2 A3
362585AC5
(4,785.12) Principal
Paydown
08/16/25 08/16/25 (4,785.12) (0.00) Direct 4,785.12
GMCAR 2023-3 A3
36267KAD9
(4,585.84) Principal
Paydown
08/16/25 08/16/25 (4,585.84) (0.00) Direct 4,585.84
GMCAR 2022-3 A3
36265WAD5
(7,213.37) Principal
Paydown
08/16/25 08/16/25 (7,213.37) (0.00) Direct 7,213.37
GMCAR 2023-2 A3
362583AD8
(8,339.01) Principal
Paydown
08/16/25 08/16/25 (8,339.01) 0.00 Direct 8,339.01
HAROT 2023-4 A3
438123AC5
(5,340.60) Principal
Paydown
08/21/25 08/21/25 (5,340.60) (0.00) Direct 5,340.60
BMWOT 2022-A A3
05602RAD3
(4,429.94) Principal
Paydown
08/25/25 08/25/25 (4,429.94) (0.00) Direct 4,429.94
BMWOT 2023-A A3
05592XAD2
(5,010.59) Principal
Paydown
08/25/25 08/25/25 (5,010.59) (0.00) Direct 5,010.59
FHMS K-054 A2
3137BNGT5
(11,463.65) Principal
Paydown
09/01/25 09/01/25 (11,463.65) 0.00 Direct 11,463.65
FHMS K-736 A2
3137FNWX4
(377.88) Principal
Paydown
09/01/25 09/01/25 (377.88) 0.00 Direct 377.88
FHMS K-057 A2
3137BRQJ7
(872.29) Principal
Paydown
09/01/25 09/01/25 (872.28) (0.01) Direct 872.28
FHMS K-092 A1
3137FLYU2
(3,913.83) Principal
Paydown
09/01/25 09/01/25 (3,913.83) (0.00) Direct 3,913.83
Transactions

Page 164 of 533 ends

Public Trust Advisors 22
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Current Units Type Trade Date Settle Date Price Principal Realized Gain/Loss
Broker Amount
FNA 2016-M03 A2
3136ARTE8
(169.38) Principal
Paydown
09/01/25 09/01/25 (169.38) 0.00 Direct 169.38
FHMS K-059 A2
3137BSRE5
(92.09) Principal
Paydown
09/01/25 09/01/25 (92.09) (0.00) Direct 92.09
FHMS K-053 A2
3137BN6G4
(31,756.03) Principal
Paydown
09/01/25 09/01/25 (31,756.03) 0.01 Direct 31,756.03
FNA 2016-M12 A2
3136AUKX8
(483.98) Principal
Paydown
09/01/25 09/01/25 (483.98) (0.00) Direct 483.98
CARMX 2022-4 A3
14318UAD3
(13,743.05) Principal
Paydown
09/15/25 09/15/25 (13,743.04) (0.01) Direct 13,743.04
TAOT 2022-B A3
89238FAD5
(5,052.58) Principal
Paydown
09/15/25 09/15/25 (5,052.58) (0.00) Direct 5,052.58
NAROT 2022-B A3
65480JAC4
(9,851.37) Principal
Paydown
09/15/25 09/15/25 (9,851.37) (0.00) Direct 9,851.37
TAOT 2023-B A3
891941AD8
(10,406.22) Principal
Paydown
09/15/25 09/15/25 (10,406.22) (0.00) Direct 10,406.22
HDMOT 2023-A A3
41285JAD0
(9,124.44) Principal
Paydown
09/15/25 09/15/25 (9,124.44) (0.00) Direct 9,124.44
CARMX 2022-2 A3
14317HAC5
(6,878.89) Principal
Paydown
09/15/25 09/15/25 (6,878.89) (0.00) Direct 6,878.89
HART 2022-C A3
44933DAD3
(16,579.94) Principal
Paydown
09/15/25 09/15/25 (16,579.94) 0.00 Direct 16,579.94
CARMX 2022-3 A3
14318MAD1
(11,147.14) Principal
Paydown
09/15/25 09/15/25 (11,147.14) 0.00 Direct 11,147.14
MBART 2022-1 A3
58768PAC8
(14,947.43) Principal
Paydown
09/15/25 09/15/25 (14,947.42) (0.01) Direct 14,947.42
HAROT 2023-2 A3
437927AC0
(9,929.08) Principal
Paydown
09/15/25 09/15/25 (9,929.08) (0.00) Direct 9,929.08
NAROT 2023-B A3
65480MAD5
(7,925.00) Principal
Paydown
09/15/25 09/15/25 (7,925.00) 0.00 Direct 7,925.00
TAOT 2022-C A3
89231CAD9
(4,458.24) Principal
Paydown
09/15/25 09/15/25 (4,458.24) (0.00) Direct 4,458.24
FORDO 2023-B A3
344930AD4
(8,491.18) Principal
Paydown
09/15/25 09/15/25 (8,491.18) 0.00 Direct 8,491.18
ALLYA 2022-1 A3
02008JAC0
(7,854.14) Principal
Paydown
09/15/25 09/15/25 (7,854.14) 0.00 Direct 7,854.14
NAROT 2023-A A3
65480WAD3
(13,447.14) Principal
Paydown
09/15/25 09/15/25 (13,447.14) (0.00) Direct 13,447.14
Transactions

Page 165 of 533 ends

Public Trust Advisors 23
07/01/2025 to 09/30/2025
City of Los Altos, CA
Description
Identifier
Current Units Type Trade Date Settle Date Price Principal Realized Gain/Loss
Broker Amount
TAOT 2023-A A3
891940AC2
(7,902.51) Principal
Paydown
09/15/25 09/15/25 (7,902.51) (0.00) Direct 7,902.51
TAOT 2022-D A3
89239HAD0
(5,044.27) Principal
Paydown
09/15/25 09/15/25 (5,044.27) (0.00) Direct 5,044.27
ALLYA 2022-2 A3
02008MAC3
(18,462.01) Principal
Paydown
09/15/25 09/15/25 (18,462.01) (0.00) Direct 18,462.01
HART 2023-B A3
44933XAD9
(4,584.54) Principal
Paydown
09/15/25 09/15/25 (4,584.54) 0.00 Direct 4,584.54
HDMOT 2022-A A3
41284YAD8
(658.83) Principal
Paydown
09/15/25 09/15/25 (658.85) 0.02 Direct 658.85
FORDO 2023-A A3
344928AD8
(6,505.96) Principal
Paydown
09/15/25 09/15/25 (6,505.96) 0.00 Direct 6,505.96
FITAT 2023-1 A3
31680EAD3
(14,424.70) Principal
Paydown
09/15/25 09/15/25 (14,424.70) 0.00 Direct 14,424.70
GMCAR 2023-2 A3
362583AD8
(7,449.49) Principal
Paydown
09/16/25 09/16/25 (7,449.50) 0.01 Direct 7,449.50
GMCAR 2022-3 A3
36265WAD5
(6,930.86) Principal
Paydown
09/16/25 09/16/25 (6,930.86) (0.00) Direct 6,930.86
GMCAR 2022-2 A3
362585AC5
(4,579.26) Principal
Paydown
09/16/25 09/16/25 (4,579.26) (0.00) Direct 4,579.26
GMCAR 2023-3 A3
36267KAD9
(4,272.86) Principal
Paydown
09/16/25 09/16/25 (4,272.86) (0.00) Direct 4,272.86
HAROT 2023-4 A3
438123AC5
(5,260.63) Principal
Paydown
09/21/25 09/21/25 (5,260.63) 0.00 Direct 5,260.63
BMWOT 2023-A A3
05592XAD2
(4,769.17) Principal
Paydown
09/25/25 09/25/25 (4,769.17) 0.00 Direct 4,769.17
BMWOT 2022-A A3
05602RAD3
(2,899.56) Principal
Paydown
09/25/25 09/25/25 (2,899.58) 0.02 Direct 2,899.58
Principal Paydown Total ($1,221,230.52) ($0.08) $1,221,230.52 Transactions

Page 166 of 533 ends

Public Trust Advisors 24
07/01/2025 to 09/30/2025
City of Los Altos, CA
Income
Description
Identifier
Final
Maturity
Current Units Interest Income Realized Gain
Realized Loss
Accretion
Income
Amortization
Expense
Misc
Income
Net Income Interest Received
Interest Due
ALLYA 2022-1 A3
02008JAC0
11/16/26 106.72 $100.70 $0.00
($0.00)
$0.00 ($241.37) $0.00 ($140.67) $137.82
$0.00
ALLYA 2022-2 A3
02008MAC3
05/17/27 87,053.35 1,366.59 0.01
(0.01)

0.16 0.00 0.00 1,366.75 1,487.44

0.00 AMXCA 2022-4 A
02582JJX9
10/15/27 120,000.00 1,485.00 0.00

0.00 0.48 0.00 0.00 1,485.48 1,485.00

0.00 AMXCA 2023-1 A
02582JJZ4
05/15/26 140,000.00 1,704.51 0.00

0.00 1.04 0.00 0.00 1,705.55 1,704.51

0.00 AMERICAN HONDA FINANCE CORP
02665WEK3
07/07/26 50,000.00 656.25 0.00

0.00 0.00 (22.27) 0.00 633.98 1,312.50

0.00 AMERICAN HONDA FINANCE CORP
02665WEK3
07/07/26 85,000.00 1,115.63 0.00

0.00 9.04 0.00 0.00 1,124.66 2,231.25

0.00 AMERICAN HONDA FINANCE CORP
02665WEK3
07/07/26 65,000.00 853.13 0.00

0.00 36.18 0.00 0.00 889.30 1,706.25

0.00 AMERICAN HONDA FINANCE CORP
02665WEQ0
10/03/25 175,000.00 2,537.50 0.00

0.00 21.40 0.00 0.00 2,558.90 0.00

0.00 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD
(NEW Y
05253JAZ4
01/18/27 250,000.00 2,968.75 0.00

0.00 0.00 0.00 0.00 2,968.75 5,937.50

0.00 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD
(NEW Y
05254JAA8
12/08/25 250,000.00 3,180.00 0.00

0.00 0.00 0.00 0.00 3,180.00 0.00

0.00 BACCT 2023-1 A
05522RDG0
05/15/26 120,000.00 1,437.00 0.00

0.00 2.11 0.00 0.00 1,439.11 1,437.00

0.00 BACCT 2023-2 A
05522RDH8
11/16/26 170,000.00 2,116.50 0.00

0.00 1.86 0.00 0.00 2,118.36 2,116.50

0.00 BMWOT 2023-A A3
05592XAD2
02/25/28 49,207.38 793.00 0.00
(0.00)

1.14 0.00 0.00 794.14 806.45

0.00 BMWOT 2022-A A3
05602RAD3
08/25/26 0.00 52.59 0.02
(0.00)

0.00 (18.49) 0.00 34.12 58.89

0.00 BANK OF AMERICA CORP
06051GFS3
08/01/25 0.00 726.57 0.00

0.00 0.00 (196.01) 0.00 530.56 4,359.38

0.00 BANK OF AMERICA CORP
06051GFX2
04/19/26 175,000.00 1,531.25 0.00

0.00 437.41 0.00 0.00 1,968.66 0.00

0.00 BANK OF NEW YORK MELLON CORP
06406RBJ5
07/24/26 0.00 479.41 0.00

0.00 0.00 (12.40) 0.00 467.01 3,751.90

0.00 BANK OF NEW YORK MELLON CORP
06406RBJ5
07/24/26 0.00 225.60 0.00

0.00 0.00 0.00 0.00 225.60 1,765.60

0.00

Page 167 of 533 ends

Public Trust Advisors 25
07/01/2025 to 09/30/2025
City of Los Altos, CA
Income
Description
Identifier
Final
Maturity
Current Units Interest Income Realized Gain
Realized Loss
Accretion
Income
Amortization
Expense
Misc
Income
Net Income Interest Received
Interest Due

BANK OF AMERICA NA
06428CAA2
08/18/26 275,000.00 3,799.13 0.00

0.00 0.00 0.00 0.00 3,799.13 7,598.25

0.00 BRISTOL-MYERS SQUIBB CO
110122DN5
11/13/25 125,000.00 234.38 0.00

0.00 457.46 0.00 0.00 691.83 0.00

0.00 COPAR 2021-1 A3
14044CAC6
09/15/26 0.00 0.57 0.00
(0.01)

0.00 (48.29) 0.00 (47.73) 1.23

0.00 CARMX 2022-2 A3
14317HAC5
02/16/27 12,416.82 198.24 0.00
(0.01)

0.00 (195.78) 0.00 2.45 231.04

0.00 CARMX 2022-3 A3
14318MAD1
04/15/27 53,219.24 693.24 0.00

0.00 0.19 0.00 0.00 693.43 753.37

0.00 CARMX 2022-4 A3
14318UAD3
08/16/27 95,572.79 1,548.30 0.00
(0.01)

3.01 0.00 0.00 1,551.31 1,646.38

0.00 CATERPILLAR FINANCIAL SERVICES CORP
14913UAA8
05/15/26 250,000.00 2,718.75 0.00

0.00 10.09 0.00 0.00 2,728.84 0.00

0.00 CHAIT 2023-1 A
161571HT4
09/15/28 380,000.00 4,902.00 0.00

0.00 8.96 0.00 0.00 4,910.96 4,902.00

0.00 CITIGROUP INC
172967KG5
01/12/26 200,000.00 1,850.00 0.00

0.00 516.21 0.00 0.00 2,366.21 3,700.00

0.00 COLGATE-PALMOLIVE CO
194162AM5
08/15/25 0.00 208.39 0.00

0.00 2.16 0.00 0.00 210.55 852.50

0.00 COMCAST CORP
20030NBY6
02/01/27 200,000.00 1,650.00 0.00

0.00 1,082.30 0.00 0.00 2,732.30 3,300.00

0.00 COMMONWEALTH BANK OF AUSTRALIA (NEW YORK

BRANCH)
20271RAS9
09/12/25 0.00 2,711.31 0.00

0.00 0.00 (23.82) 0.00 2,687.49 6,873.75

0.00 Coöperatieve Rabobank U.A., New York Branch
21684LGS5
07/17/26 475,000.00 6,099.53 0.00

0.00 0.00 0.00 0.00 6,099.53 12,065.00

0.00 JOHN DEERE CAPITAL CORP
24422EXF1
01/08/27 200,000.00 2,250.00 0.00

0.00 18.68 0.00 0.00 2,268.68 4,500.00

0.00 DCENT 2022-3 A
254683CW3
07/15/27 0.00 415.33 0.00

0.00 0.51 0.00 0.00 415.85 890.00

0.00 DCENT 2023-1 A
254683CY9
03/15/28 300,000.00 3,232.50 0.00

0.00 1.43 0.00 0.00 3,233.93 3,232.50

0.00 FNA 2016-M03 A2
3136ARTE8
02/25/26 106,482.94 728.09 0.01

0.00 0.00 (7,251.52) 0.00 (6,523.43) 761.32

0.00 FNA 2016-M12 A2
3136AUKX8
09/25/26 250,320.12 1,590.18 0.00
(0.01)

0.00 (466.91) 0.00 1,123.27 1,624.83

0.00 FHMS K-053 A2
3137BN6G4
12/25/25 164,411.66 1,451.27 0.01
(0.01)
293.93 0.00 0.00 1,745.20 1,593.12

0.00

Page 168 of 533 ends

Public Trust Advisors 26
07/01/2025 to 09/30/2025
City of Los Altos, CA
Income
Description
Identifier
Final
Maturity
Current Units Interest Income Realized Gain
Realized Loss
Accretion
Income
Amortization
Expense
Misc
Income
Net Income Interest Received
Interest Due
FHMS K-054 A2
3137BNGT5
01/25/26 234,564.89 1,639.64 0.00
(0.01)
954.01 0.00 0.00 2,593.64 1,667.83

0.00 FHMS K-054 A2
3137BNGT5
01/25/26 191,916.73 1,341.52 0.00
(0.00)
644.09 0.00 0.00 1,985.61 1,364.59

0.00 FHMS K-057 A2
3137BRQJ7
07/25/26 238,934.59 1,538.33 0.00
(0.01)
1,101.55 0.00 0.00 2,639.87 1,555.82

0.00 FHMS K-057 A2
3137BRQJ7
07/25/26 238,934.59 1,538.33 0.00
(0.01)
1,491.33 0.00 0.00 3,029.65 1,555.82

0.00 FHMS K-058 A2
3137BSP72
08/25/26 400,000.00 2,652.99 0.00

0.00 1,245.22 0.00 0.00 3,898.21 2,652.99

0.00 FHMS K-059 A2
3137BSRE5
09/25/26 274,907.91 2,144.76 0.00
(0.00)
1,263.11 0.00 0.00 3,407.87 2,145.00

0.00 FHMS K-062 A2
3137BUX60
12/25/26 275,000.00 2,346.44 0.00

0.00 1,029.25 0.00 0.00 3,375.69 2,346.44

0.00 FHMS K-062 A2
3137BUX60
12/25/26 275,000.00 2,346.44 0.00

0.00 982.77 0.00 0.00 3,329.21 2,346.44

0.00 FHMS K-063 A2
3137BVZ82
01/25/27 275,000.00 2,358.12 0.00

0.00 1,222.97 0.00 0.00 3,581.09 2,358.12

0.00 FHMS K-065 A2
3137F1G44
04/25/27 260,000.00 2,107.95 0.00

0.00 1,081.82 0.00 0.00 3,189.77 2,107.95

0.00 FHMS K-092 A1
3137FLYU2
10/25/28 158,986.42 1,272.62 0.01
(0.00)

0.00 (954.08) 0.00 318.54 1,304.01

0.00 FHMS K-736 A2
3137FNWX4
07/25/26 239,814.32 1,370.29 0.00
(0.01)
1,722.57 0.00 0.00 3,092.86 1,372.49

0.00 FITAT 2023-1 A3
31680EAD3
08/15/28 198,707.89 3,049.15 0.00
(0.00)

1.51 0.00 0.00 3,050.66 3,160.81

0.00 FORDO 2023-A A3
344928AD8
02/15/28 68,066.81 906.98 0.01
(0.00)

0.88 0.00 0.00 907.87 949.76

0.00 FORDO 2023-B A3
344930AD4
05/15/28 110,241.40 1,612.21 0.01

0.00 0.19 0.00 0.00 1,612.40 1,676.14

0.00 GMCAR 2021-4 A3
362554AC1
09/16/26 0.00 0.07 0.00
(0.03)

0.00 (4.00) 0.00 (3.96) 0.14

0.00 GMCAR 2023-2 A3
362583AD8
02/16/28 75,801.44 977.68 0.01
(0.00)

0.25 0.00 0.00 977.93 1,021.72

0.00 GMCAR 2022-2 A3
362585AC5
02/16/27 10,919.90 139.12 0.00
(0.00)

0.42 0.00 0.00 139.54 157.59

0.00 GMCAR 2022-3 A3
36265WAD5
04/16/27 20,299.48 281.51 0.00
(0.01)

0.02 0.00 0.00 281.52 314.36

0.00

Page 169 of 533 ends

Public Trust Advisors 27
07/01/2025 to 09/30/2025
City of Los Altos, CA
Income
Description
Identifier
Final
Maturity
Current Units Interest Income Realized Gain
Realized Loss
Accretion
Income
Amortization
Expense
Misc
Income
Net Income Interest Received
Interest Due
GMCAR 2023-3 A3
36267KAD9
06/16/28 54,043.25 826.15 0.00
(0.01)

0.25 0.00 0.00 826.39 856.32

0.00 GMCAR 2022-1 A3
380146AC4
11/16/26 0.00 1.78 0.00
(0.02)

0.00 (32.83) 0.00 (31.07) 3.56

0.00 GOLDMAN SACHS GROUP INC
38145GAH3
11/16/26 200,000.00 1,750.00 0.00

0.00 879.89 0.00 0.00 2,629.89 0.00

0.00 HDMOT 2022-A A3
41284YAD8
02/16/27 0.00 47.27 0.02
(0.00)

0.00 (254.68) 0.00 (207.39) 71.87

0.00 HDMOT 2023-A A3
41285JAD0
12/15/27 73,246.28 1,092.62 0.00
(0.00)

0.99 0.00 0.00 1,093.60 1,153.27

0.00 HOME DEPOT INC
437076CR1
09/15/25 0.00 452.22 0.00

0.00 1.45 0.00 0.00 453.67 1,100.00

0.00 HOME DEPOT INC
437076CV2
09/30/26 105,000.00 1,299.38 0.00

0.00 21.18 0.00 0.00 1,320.56 2,598.75

0.00 HAROT 2023-2 A3
437927AC0
11/15/27 110,948.42 1,548.60 0.00
(0.01)

2.05 0.00 0.00 1,550.66 1,614.99

0.00 HAROT 2023-4 A3
438123AC5
06/21/28 74,398.77 1,162.95 0.00
(0.00)

1.33 0.00 0.00 1,164.28 1,179.65

0.00 HART 2022-A A3
448977AD0
10/15/26 0.00 14.76 0.00
(0.02)

0.00 (31.44) 0.00 (16.70) 23.77

0.00 HART 2022-C A3
44933DAD3
06/15/27 93,706.02 1,588.00 0.01
(0.00)

0.03 0.00 0.00 1,588.03 1,705.68

0.00 HART 2023-B A3
44933XAD9
04/17/28 51,334.28 795.07 0.01

0.00 0.28 0.00 0.00 795.36 828.27

0.00 INTEL CORP
458140AS9
07/29/25 0.00 575.56 0.00

0.00 146.95 0.00 0.00 722.50 3,700.00

0.00 INTERNATIONAL BUSINESS MACHINES CORP
459200KS9
07/27/25 0.00 1,083.33 0.00

0.00 0.00 0.00 0.00 1,083.33 7,500.00

0.00 JPMORGAN CHASE & CO
46625HMN7
07/15/25 0.00 341.25 0.00

0.00 0.00 0.00 0.00 341.25 4,387.50

0.00 LOCKHEED MARTIN CORP
539830BU2
10/15/25 80,000.00 990.00 0.00

0.00 20.58 0.00 0.00 1,010.58 0.00

0.00 LOCKHEED MARTIN CORP
539830BU2
10/15/25 95,000.00 1,175.63 0.00

0.00 0.00 (3.32) 0.00 1,172.30 0.00

0.00 MBART 2022-1 A3
58768PAC8
08/16/27 110,925.76 1,742.66 0.00
(0.01)

3.26 0.00 0.00 1,745.91 1,853.86

0.00 FEDERATED HRMS TRS SVC
60934N872
09/30/25 4,803,076.07 190,098.86 0.00

0.00 0.00 0.00 0.00 190,098.86 201,174.68
45,101.92

Page 170 of 533 ends

Public Trust Advisors 28
07/01/2025 to 09/30/2025
City of Los Altos, CA
Income
Description
Identifier
Final
Maturity
Current Units Interest Income Realized Gain
Realized Loss
Accretion
Income
Amortization
Expense
Misc
Income
Net Income Interest Received
Interest Due

FEDERATED HRMS TRS SVC
60934N872
09/30/25 20,000,000.00 28,924.96 0.00

0.00 0.00 0.00 0.00 28,924.96 0.00
28,924.96

MORGAN STANLEY
6174468C6
07/23/25 0.00 207.78 0.00

0.00 2.02 0.00 0.00 209.80 1,700.00

0.00 NATIONAL AUSTRALIA BANK LTD (NEW YORK BRANCH)
63253QAA2
01/12/26 415,000.00 5,152.23 0.00

0.00 0.00 0.00 0.00 5,152.23 10,304.45

0.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE
CORP
63743HFH0
03/13/26 125,000.00 1,390.63 0.00

0.00 38.55 0.00 0.00 1,429.17 2,781.25

0.00 Natixis, New York Branch
63873QP65
09/18/26 375,000.00 26,632.29 0.00

0.00 0.00 0.00 0.00 26,632.29 21,329.69

0.00 NAROT 2022-B A3
65480JAC4
05/17/27 76,523.87 1,020.86 0.00
(0.00)

2.11 0.00 0.00 1,022.96 1,081.27

0.00 NAROT 2023-B A3
65480MAD5
03/15/28 82,911.86 1,402.76 0.00
(0.00)

2.24 0.00 0.00 1,405.00 1,460.97

0.00 NAROT 2023-A A3
65480WAD3
11/15/27 124,134.44 1,778.56 0.00
(0.00)

2.96 0.00 0.00 1,781.52 1,870.94

0.00 Nordea ABP - New York Branch
65558UYF3
11/03/25 500,000.00 7,066.11 0.00

0.00 0.00 0.00 0.00 7,066.11 0.00

0.00 PACCAR FINANCIAL CORP
69371RS56
08/10/26 125,000.00 1,578.13 0.00

0.00 5.37 0.00 0.00 1,583.49 3,156.25

0.00 PEPSICO INC
713448FW3
11/10/26 65,000.00 832.81 0.00

0.00 1.47 0.00 0.00 834.28 0.00

0.00 STATE STREET CORP
857477CD3
08/03/26 200,000.00 2,636.00 0.00

0.00 0.00 0.00 0.00 2,636.00 5,272.00

0.00 Toronto-Dominion Bank - New York Branch
89115B6K1
10/27/25 500,000.00 7,155.56 0.00

0.00 0.00 0.00 0.00 7,155.56 0.00

0.00 TAOT 2023-A A3
891940AC2
09/15/27 78,892.41 1,050.90 0.00
(0.00)

0.02 0.00 0.00 1,050.91 1,101.57

0.00 TAOT 2023-B A3
891941AD8
02/15/28 136,438.15 1,791.59 0.00
(0.00)

0.86 0.00 0.00 1,792.44 1,859.61

0.00 TAOT 2022-C A3
89231CAD9
04/15/27 28,300.18 329.88 0.00
(0.00)

0.58 0.00 0.00 330.46 353.51

0.00 TOYOTA MOTOR CREDIT CORP
89236TKT1
05/18/26 210,000.00 2,336.25 0.00

0.00 10.47 0.00 0.00 2,346.72 0.00

0.00 TOYOTA MOTOR CREDIT CORP
89236TLJ2
01/05/26 175,000.00 2,100.00 0.00

0.00 17.43 0.00 0.00 2,117.43 4,200.00

0.00 TAOT 2022-B A3
89238FAD5
09/15/26 5,148.89 94.26 0.00
(0.00)

0.00 (26.95) 0.00 67.30 115.26

0.00

Page 171 of 533 ends

Public Trust Advisors 29
07/01/2025 to 09/30/2025
City of Los Altos, CA
Income
Description
Identifier
Final
Maturity
Current Units Interest Income Realized Gain
Realized Loss
Accretion
Income
Amortization
Expense
Misc
Income
Net Income Interest Received
Interest Due
TAOT 2022-D A3
89239HAD0
09/15/27 51,639.50 784.52 0.00
(0.00)

0.52 0.00 0.00 785.04 821.60

0.00 TRUIST FINANCIAL CORP
89788MAH5
07/28/26 0.00 207.68 0.00

0.00 0.00 0.00 0.00 207.68 1,384.50

0.00 TRUIST FINANCIAL CORP
89788MAH5
07/28/26 0.00 207.68 0.00

0.00 0.00 (1.71) 0.00 205.97 1,384.50

0.00 UNITED STATES TREASURY
91282CEY3
07/15/25 0.00 493.09 0.00

0.00 88.69 0.00 0.00 581.78 6,375.00

0.00 UNITED STATES TREASURY
91282CEY3
07/15/25 0.00 1,392.27 0.00

0.00 62.04 0.00 0.00 1,454.31 18,000.00

0.00 UNITED STATES TREASURY
91282CFK2
09/15/25 0.00 4,336.96 0.00

0.00 891.48 0.00 0.00 5,228.43 10,500.00

0.00 UNITED STATES TREASURY
91282CFW6
11/15/25 1,125,000.00 12,656.25 0.00

0.00 0.00 (1,395.59) 0.00 11,260.66 0.00

0.00 UNITED STATES TREASURY
91282CGE5
01/15/26 2,550,000.00 24,765.43 0.00

0.00 518.12 0.00 0.00 25,283.55 49,406.25

0.00 UNITED STATES TREASURY
91282CGL9
02/15/26 930,000.00 9,375.40 0.00

0.00 1,450.25 0.00 0.00 10,825.65 18,600.00

0.00 UNITED STATES TREASURY
91282CGV7
04/15/26 1,150,000.00 10,840.16 0.00

0.00 230.50 0.00 0.00 11,070.66 0.00

0.00 UNITED STATES TREASURY
91282CHB0
05/15/26 1,700,000.00 15,406.25 0.00

0.00 1,454.47 0.00 0.00 16,860.72 0.00

0.00 UNITED STATES TREASURY
91282CHH7
06/15/26 975,000.00 10,109.63 0.00

0.00 833.37 0.00 0.00 10,943.00 0.00

0.00 UNITED STATES TREASURY
91282CHM6
07/15/26 1,550,000.00 17,481.48 0.00

0.00 213.98 0.00 0.00 17,695.46 34,875.00

0.00 UNITED STATES TREASURY
91282CHU8
08/15/26 1,100,000.00 12,128.79 0.00

0.00 919.74 0.00 0.00 13,048.53 24,062.50

0.00 UNITED STATES TREASURY
91282CHY0
09/15/26 1,000,000.00 11,595.83 0.00

0.00 615.37 0.00 0.00 12,211.20 23,125.00

0.00 UNITED STATES TREASURY
91282CJC6
10/15/26 450,000.00 5,231.56 0.00

0.00 108.57 0.00 0.00 5,340.12 0.00

0.00 UNITED STATES TREASURY
91282CJK8
11/15/26 1,250,000.00 14,453.13 0.00

0.00 0.00 (849.13) 0.00 13,604.00 0.00

0.00 UNITED STATES TREASURY
91282CJP7
12/15/26 1,850,000.00 20,344.95 0.00

0.00 0.00 (1,237.38) 0.00 19,107.57 0.00

0.00 UNITED STATES TREASURY
91282CJP7
12/15/26 500,000.00 5,498.63 0.00

0.00 0.00 (171.73) 0.00 5,326.90 0.00

0.00

Page 172 of 533 ends

Public Trust Advisors 30
07/01/2025 to 09/30/2025
City of Los Altos, CA
Income
Description
Identifier
Final
Maturity
Current Units Interest Income Realized Gain
Realized Loss
Accretion
Income
Amortization
Expense
Misc
Income
Net Income Interest Received
Interest Due

UNITEDHEALTH GROUP INC
91324PEN8
10/15/25 80,000.00 1,030.00 0.00

0.00 0.79 0.00 0.00 1,030.79 0.00

0.00 WALMART INC
931142EW9
09/09/25 0.00 1,105.00 0.00

0.00 6.98 0.00 0.00 1,111.98 2,925.00

0.00 WELLS FARGO & CO
949746RW3
04/22/26 200,000.00 1,500.00 0.00

0.00 1,009.49 0.00 0.00 2,509.49 0.00

0.00 WELLS FARGO BANK NA
94988J6F9
12/11/26 375,000.00 4,925.63 0.00

0.00 0.00 0.00 0.00 4,925.63 0.00

0.00 Receivable
CCYUSD
09/30/25 45,101.92 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00

0.00 Receivable
CCYUSD
09/30/25 28,924.96 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00

0.00 Portfolio Total 54,355,582.40 $575,173.21 $0.15
($0.23) $25,214.36 ($13,439.70) $0.00 $586,947.79 $592,679.59$74,026.88

Page 173 of 533 ends

Public Trust Advisors 31
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
Ally Auto Receivables Trust
2022-1
Ally Auto Receivables Trust
2022-1
02008JAC0
ABS

0.00%

0.07%

4.31% 0.04 AAAAaa
10/15/25
11/16/26 106.72 $0.16 $106.86$107.01
$106.68
$106.84
Ally Auto Receivables Trust
2022-1 0.00%

0.07%

4.31% 0.04 AAAAaa 106.72 $0.16 $106.86$107.01
$106.68
$106.84
Ally Auto Receivables Trust
2022-2
Ally Auto Receivables Trust
2022-2
02008MAC3
ABS

0.16%

4.81%

4.40% 0.25 AAAAaa
04/15/26
05/17/27 87,053.35 $184.17 $87,053.24$87,237.40
$87,142.30
$87,326.46
Ally Auto Receivables Trust
2022-2 0.16%

4.81%

4.40% 0.25 AAAAaa 87,053.35 $184.17 $87,053.24$87,237.40 $87,142.30
$87,326.46
American Express Credit
Account Master Trust , series
2023-1
American Express Credit
Account Master Trust , series 2023-1
02582JJZ4
ABS

0.26%

4.92%

4.02% 0.60 AAANA
05/15/26
05/15/26 140,000.00 $303.02 $139,996.92$140,299.94
$140,760.79
$141,063.81
American Express Credit
Account Master Trust , series
2023-1 0.26%

4.92%

4.02% 0.60 AAANA 140,000.00 $303.02 $139,996.92$140,299.94 $140,760.79
$141,063.81
American Express Credit
Account Master Trust 2022-4
American Express Credit
Account Master Trust 2022-4
02582JJX9
ABS

0.22%

5.00%

4.37% 0.04 AAANA
10/15/25
10/15/27 120,000.00 $264.00 $119,999.92$120,263.92
$120,030.61
$120,294.61
American Express Credit
Account Master Trust 2022-4 0.22%

5.00%

4.37% 0.04 AAANA 120,000.00 $264.00 $119,999.92$120,263.92 $120,030.61
$120,294.61
American Honda Finance
Corporation

Page 174 of 533 ends

Public Trust Advisors 32
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
American Honda Finance
Corporation
02665WEQ0
CORP

0.33%

5.85%

4.72% 0.01 AA3
10/03/25
10/03/25 175,000.00 $5,018.61 $174,999.53$180,018.15
$175,013.76
$180,032.37
American Honda Finance
Corporation
02665WEK3
CORP

0.16%

5.29%

4.11% 0.74 AA3
07/07/26
07/07/26 85,000.00 1,041.25 84,971.7986,013.04
85,719.48
86,760.73
American Honda Finance
Corporation
02665WEK3
CORP

0.12%

5.49%

4.11% 0.74 AA3
07/07/26
07/07/26 65,000.00 796.25 64,887.0565,683.30
65,550.19
66,346.44
American Honda Finance
Corporation
02665WEK3
CORP

0.09%

5.06%

4.11% 0.74 AA3
07/07/26
07/07/26 50,000.00 612.50 50,069.4250,681.92
50,423.22
51,035.72
American Honda Finance
Corporation 0.70%

5.56%

4.40% 0.40 AA3 375,000.00 $7,468.61 $374,927.80$382,396.41 $376,706.65
$384,175.26
Australia & New Zealand
Banking Group Ltd., New York
Branch
Australia & New Zealand
Banking Group Ltd., New York Branch
05254JAA8
CORP

0.46%

5.09%

4.32% 0.19 AAAa2
12/08/25
12/08/25 250,000.00 $3,992.67 $250,000.00$253,992.67
$250,329.52
$254,322.19
Australia & New Zealand
Banking Group Ltd., New York Branch
05253JAZ4
CORP

0.47%

4.75%

3.91% 1.24 AAAa2
01/18/27
01/18/27 250,000.00 2,407.99 250,000.00252,407.99
252,630.38
255,038.36
Australia & New Zealand
Banking Group Ltd., New York
Branch 0.93%

4.92%

4.11% 0.72 AAAa2 500,000.00 $6,400.65 $500,000.00$506,400.65 $502,959.90
$509,360.55
BA Credit Card Trust, Series
2023-1
BA Credit Card Trust, Series
2023-1
05522RDG0
ABS

0.22%

4.85%

4.01% 0.60 AAANA
05/15/26
05/15/26 120,000.00 $255.47 $119,994.03$120,249.50
$120,598.10
$120,853.57
BA Credit Card Trust, Series
2023-1 0.22%

4.85%

4.01% 0.60 AAANA 120,000.00 $255.47 $119,994.03$120,249.50 $120,598.10
$120,853.57
Ba Credit Card Trust, Series
2023-2

Page 175 of 533 ends

Public Trust Advisors 33
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
Ba Credit Card Trust, Series
2023-2
05522RDH8
ABS

0.32%

5.04%

3.90% 1.08 NAAaa
11/16/26
11/16/26 170,000.00 $376.27 $169,990.40$170,366.66
$172,086.04
$172,462.30
Ba Credit Card Trust, Series
2023-2 0.32%

5.04%

3.90% 1.08 NAAaa 170,000.00 $376.27 $169,990.40$170,366.66 $172,086.04
$172,462.30
Bank of America Corporation
Bank of America Corporation
06051GFX2
CORP

0.32%

4.54%

4.07% 0.53 AA1
04/19/26
04/19/26 175,000.00 $2,756.25 $174,024.60$176,780.85
$174,452.71
$177,208.96
Bank of America Corporation

0.32%

4.54%

4.07% 0.53 AA1 175,000.00 $2,756.25 $174,024.60$176,780.85 $174,452.71
$177,208.96
Bank of America, National
Association
Bank of America, National
Association
06428CAA2
CORP

0.51%

5.53%

3.93% 0.77 A+Aa2
07/18/26
08/18/26 275,000.00 $1,815.14 $275,000.00$276,815.14
$278,421.12
$280,236.25
Bank of America, National
Association 0.51%

5.53%

3.93% 0.77 A+Aa2 275,000.00 $1,815.14 $275,000.00$276,815.14 $278,421.12
$280,236.25
Bmw Vehicle Owner Trust 2023-A
Bmw Vehicle Owner Trust 2023-A
05592XAD2
ABS

0.09%

5.54%

4.37% 0.61 AAANA
02/25/27
02/25/28 49,207.38 $44.86 $49,205.02$49,249.88
$49,554.92
$49,599.78
Bmw Vehicle Owner Trust 2023-A

0.09%

5.54%

4.37% 0.61 AAANA 49,207.38 $44.86 $49,205.02$49,249.88
$49,554.92
$49,599.78
Bristol-Myers Squibb Company
Bristol-Myers Squibb Company
110122DN5
CORP

0.23%

2.23%

4.17% 0.12 AA2
11/13/25
11/13/25 125,000.00 $359.38 $124,786.19$125,145.56
$124,489.44
$124,848.81
Bristol-Myers Squibb Company

0.23%

2.23%

4.17% 0.12 AA2 125,000.00 $359.38 $124,786.19$125,145.56 $124,489.44
$124,848.81
CarMax Auto Owner Trust 2022-2
CarMax Auto Owner Trust 2022-2
14317HAC5
ABS

0.02%
(0.13%)

4.16% 0.09 AAAAaa
12/15/25
02/16/27 12,416.82 $19.26 $12,457.11$12,476.37
$12,409.55
$12,428.81
CarMax Auto Owner Trust 2022-2

0.02%
(0.13%)

4.16% 0.09 AAAAaa 12,416.82 $19.26 $12,457.11$12,476.37 $12,409.55
$12,428.81

Page 176 of 533 ends

Public Trust Advisors 34
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
CarMax Auto Owner Trust 2022-3
CarMax Auto Owner Trust 2022-3
14318MAD1
ABS

0.10%

4.00%

4.25% 0.24 AAANA
04/15/26
04/15/27 53,219.24 $93.90 $53,219.10$53,313.01
$53,187.88
$53,281.79
CarMax Auto Owner Trust 2022-3

0.10%

4.00%

4.25% 0.24 AAANA 53,219.24 $93.90 $53,219.10$53,313.01
$53,187.88
$53,281.79
CarMax Auto Owner Trust 2022-4
CarMax Auto Owner Trust 2022-4
14318UAD3
ABS

0.18%

5.41%

4.36% 0.36 AAANA
07/15/26
08/16/27 95,572.79 $226.83 $95,569.14$95,795.96
$95,927.21
$96,154.04
CarMax Auto Owner Trust 2022-4

0.18%

5.41%

4.36% 0.36 AAANA 95,572.79 $226.83 $95,569.14$95,795.96 $95,927.21
$96,154.04
Caterpillar Financial Services
Corporation
Caterpillar Financial Services
Corporation
14913UAA8
CORP

0.47%

4.37%

3.87% 0.60 AA2
05/15/26
05/15/26 250,000.00 $4,108.33 $249,974.45$254,082.78
$250,722.28
$254,830.61
Caterpillar Financial Services
Corporation 0.47%

4.37%

3.87% 0.60 AA2 250,000.00 $4,108.33 $249,974.45$254,082.78 $250,722.28
$254,830.61
Chase Issuance Trust, Series
2023-1
Chase Issuance Trust, Series
2023-1
161571HT4
ABS

0.70%

5.23%

3.91% 0.92 AAANR
09/15/26
09/15/28 380,000.00 $871.47 $379,964.67$380,836.14
$384,580.44
$385,451.91
Chase Issuance Trust, Series
2023-1 0.70%

5.23%

3.91% 0.92 AAANR 380,000.00 $871.47 $379,964.67$380,836.14 $384,580.44
$385,451.91
Citigroup Inc.

Citigroup Inc.
172967KG5
CORP

0.37%

4.76%

4.29% 0.28 BBB+A3
01/12/26
01/12/26 200,000.00 $1,623.89 $199,421.59$201,045.48
$199,647.72
$201,271.61
Citigroup Inc.

0.37%

4.76%

4.29% 0.28 BBB+A3 200,000.00 $1,623.89 $199,421.59$201,045.48 $199,647.72
$201,271.61
Comcast Corporation
Comcast Corporation
20030NBY6
CORP

0.36%

5.66%

3.96% 1.24 AA3
02/01/27
02/01/27 200,000.00 $1,100.00 $194,015.19$195,115.19
$198,284.29
$199,384.29

Page 177 of 533 ends

Public Trust Advisors 35
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
Comcast Corporation

0.36%

5.66%

3.96% 1.24 AA3 200,000.00 $1,100.00 $194,015.19$195,115.19 $198,284.29
$199,384.29
Coöperatieve Rabobank U.A.,
New York Branch
Coöperatieve Rabobank U.A.,
New York Branch
21684LGS5
CD

0.89%

5.08%

3.56% 0.78 A+Aa2
07/17/26
07/17/26 475,000.00 $5,094.11 $475,000.00$480,094.11
$480,646.85
$485,740.96
Coöperatieve Rabobank U.A.,
New York Branch 0.89%

5.08%

3.56% 0.78 A+Aa2 475,000.00 $5,094.11 $475,000.00$480,094.11 $480,646.85
$485,740.96
Discover Card Execution Note
Trust, Series 2023-1
Discover Card Execution Note
Trust, Series 2023-1
254683CY9
ABS

0.55%

4.35%

4.10% 0.45 NAAaa
03/16/26
03/15/28 300,000.00 $574.67 $299,996.70$300,571.36
$300,327.51
$300,902.18
Discover Card Execution Note
Trust, Series 2023-1 0.55%

4.35%

4.10% 0.45 NAAaa 300,000.00 $574.67 $299,996.70$300,571.36 $300,327.51
$300,902.18
Federal Home Loan Mortgage
Corporation
Federal Home Loan Mortgage
Corporation
3137BN6G4

GSE MBS

0.30%

3.33%

4.22% 0.19 AA+Aa1
12/01/25
12/25/25 164,411.66 $410.34 $163,973.80$164,384.14
$163,703.42
$164,113.77
Federal Home Loan Mortgage
Corporation
3137BNGT5

GSE MBS

0.43%

4.37%

4.06% 0.29 AA+Aa1
01/01/26
01/25/26 234,564.89 536.57 233,033.37233,569.93
233,242.95
233,779.52
Federal Home Loan Mortgage
Corporation
3137BNGT5

GSE MBS

0.35%

4.08%

4.06% 0.29 AA+Aa1
01/01/26
01/25/26 191,916.73 439.01 190,826.02191,265.03
190,835.14
191,274.15
Federal Home Loan Mortgage
Corporation
3137FNWX4

GSE MBS

0.43%

5.33%

3.97% 0.68 AA+Aa1
07/01/26
07/25/26 239,814.32 456.05 234,560.98235,017.03
236,724.34
237,180.39
Federal Home Loan Mortgage
Corporation
3137BRQJ7

GSE MBS

0.43%

4.31%

3.97% 0.68 AA+Aa1
07/01/26
07/25/26 238,934.59 511.72 235,732.73236,244.45
236,279.07
236,790.79
Federal Home Loan Mortgage
Corporation
3137BRQJ7

GSE MBS

0.43%

4.94%

3.97% 0.68 AA+Aa1
07/01/26
07/25/26 238,934.59 511.72 234,721.41235,233.13
236,279.07
236,790.79

Page 178 of 533 ends

Public Trust Advisors 36
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
Federal Home Loan Mortgage
Corporation
3137BSP72

GSE MBS

0.72%

3.98%

3.87% 0.84 AA+Aa1
08/01/26
08/25/26 400,000.00 884.33 394,920.20395,804.54
395,286.32
396,170.65
Federal Home Loan Mortgage
Corporation
3137BSRE5

GSE MBS

0.50%

5.16%

3.88% 0.87 AAAAa1
09/01/26
09/25/26 274,907.91 714.76 269,592.56270,307.33
272,572.23
273,286.99
Federal Home Loan Mortgage
Corporation
3137BUX60

GSE MBS

0.50%

5.08%

3.83% 1.14 AA+Aa1
12/01/26
12/25/26 275,000.00 782.15 269,317.45270,099.60
273,134.68
273,916.82
Federal Home Loan Mortgage
Corporation
3137BUX60

GSE MBS

0.50%

5.00%

3.83% 1.14 AA+Aa1
12/01/26
12/25/26 275,000.00 782.15 269,548.51270,330.66
273,134.68
273,916.82
Federal Home Loan Mortgage
Corporation
3137BVZ82

GSE MBS

0.50%

5.40%

3.81% 1.13 AA+Aa1
01/01/27
01/25/27 275,000.00 786.04 268,388.66269,174.70
273,249.43
274,035.47
Federal Home Loan Mortgage
Corporation
3137F1G44

GSE MBS

0.47%

5.11%

3.86% 1.42 AA+Aa1
04/01/27
04/25/27 260,000.00 702.65 252,747.46253,450.11
257,244.47
257,947.12
Federal Home Loan Mortgage
Corporation
3137FLYU2

GSE MBS

0.29%

0.66%

3.88% 1.42 AA+Aa1
06/01/28
10/25/28 158,986.42 414.03 164,583.76164,997.79
157,005.16
157,419.19
Federal Home Loan Mortgage
Corporation 5.86%

4.49%

3.92% 0.85 AA+Aa1 3,227,471.11 $7,931.51 $3,181,946.91$3,189,878.42 $3,198,690.97
$3,206,622.48
Federal National Mortgage
Association
Federal National Mortgage
Association
3136ARTE8

GSE MBS

0.19%
(17.00%)

4.34% 0.31 AA+Aa1
02/01/26
02/25/26 106,482.94 $239.76 $113,805.81$114,045.58
$105,753.44
$105,993.21
Federal National Mortgage
Association
3136AUKX8

GSE MBS

0.45%

0.00%

4.49% 0.68 AA+Aa1
09/01/26
09/25/26 250,320.12 524.63 251,629.30252,153.93
246,617.09
247,141.72
Federal National Mortgage
Association 0.65%
(5.30%)

4.45% 0.57 AA+Aa1 356,803.06 $764.39 $365,435.11$366,199.50 $352,370.53
$353,134.92
Fifth Third Auto Trust 2023-1
Fifth Third Auto Trust 2023-1
31680EAD3
ABS

0.37%

5.60%

4.39% 0.76 AAAAaa
07/15/27
08/15/28 198,707.89 $488.38 $198,703.78$199,192.16
$200,537.23
$201,025.61

Page 179 of 533 ends

Public Trust Advisors 37
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
Fifth Third Auto Trust 2023-1

0.37%

5.60%

4.39% 0.76 AAAAaa 198,707.89 $488.38 $198,703.78$199,192.16 $200,537.23
$201,025.61
Ford Credit Auto Owner Trust
2023-A
Ford Credit Auto Owner Trust
2023-A
344928AD8
ABS

0.13%

4.70%

4.21% 0.56 AAANA
01/15/27
02/15/28 68,066.81 $140.67 $68,065.09$68,205.76
$68,250.43
$68,391.10
Ford Credit Auto Owner Trust
2023-A 0.13%

4.70%

4.21% 0.56 AAANA 68,066.81 $140.67 $68,065.09$68,205.76 $68,250.43
$68,391.10
Ford Credit Auto Owner Trust
2023-B
Ford Credit Auto Owner Trust
2023-B
344930AD4
ABS

0.20%

5.29%

4.22% 0.68 AAANA
05/15/27
05/15/28 110,241.40 $256.25 $110,240.92$110,497.17
$111,043.66
$111,299.91
Ford Credit Auto Owner Trust
2023-B 0.20%

5.29%

4.22% 0.68 AAANA 110,241.40 $256.25 $110,240.92$110,497.17 $111,043.66
$111,299.91
GM Financial Consumer
Automobile Receivables Trust
2023-2
GM Financial Consumer
Automobile Receivables Trust 2023-2
362583AD8
ABS

0.14%

4.51%

4.19% 0.56 AAAAaa
01/16/27
02/16/28 75,801.44 $141.18 $75,800.95$75,942.13
$75,937.78
$76,078.96
GM Financial Consumer
Automobile Receivables Trust
2023-2 0.14%

4.51%

4.19% 0.56 AAAAaa 75,801.44 $141.18 $75,800.95$75,942.13 $75,937.78
$76,078.96
Gm Financial Consumer
Automobile Receivables Trust
2022-2
Gm Financial Consumer
Automobile Receivables Trust 2022-2
362585AC5
ABS

0.02%

3.13%

4.17% 0.12 AAAAaa
01/16/26
02/16/27 10,919.90 $14.10 $10,919.75$10,933.86
$10,906.40
$10,920.50
Gm Financial Consumer
Automobile Receivables Trust
2022-2 0.02%

3.13%

4.17% 0.12 AAAAaa 10,919.90 $14.10 $10,919.75$10,933.86 $10,906.40
$10,920.50

Page 180 of 533 ends

Public Trust Advisors 38
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
Gm Financial Consumer
Automobile Receivables Trust
2022-3
Gm Financial Consumer
Automobile Receivables Trust 2022-3
36265WAD5
ABS

0.04%

3.67%

4.21% 0.14 NAAaa
02/16/26
04/16/27 20,299.48 $30.79 $20,299.47$20,330.26
$20,283.58
$20,314.37
Gm Financial Consumer
Automobile Receivables Trust
2022-3 0.04%

3.67%

4.21% 0.14 NAAaa 20,299.48 $30.79 $20,299.47$20,330.26
$20,283.58
$20,314.37
Gm Financial Consumer
Automobile Receivables Trust
2023-3
Gm Financial Consumer
Automobile Receivables Trust 2023-3
36267KAD9
ABS

0.10%

5.51%

4.36% 0.71 AAAAaa
06/16/27
06/16/28 54,043.25 $122.72 $54,042.60$54,165.33
$54,487.11
$54,609.83
Gm Financial Consumer
Automobile Receivables Trust
2023-3 0.10%

5.51%

4.36% 0.71 AAAAaa 54,043.25 $122.72 $54,042.60$54,165.33 $54,487.11
$54,609.83
Harley-Davidson Motorcycle
Trust 2023-A
Harley-Davidson Motorcycle
Trust 2023-A
41285JAD0
ABS

0.13%

5.11%

4.33% 0.43 NAAaa
09/15/26
12/15/27 73,246.28 $164.40 $73,244.83$73,409.22
$73,489.89
$73,654.29
Harley-Davidson Motorcycle
Trust 2023-A 0.13%

5.11%

4.33% 0.43 NAAaa 73,246.28 $164.40 $73,244.83$73,409.22 $73,489.89
$73,654.29
Honda Auto Receivables 2023-2
Owner Trust
Honda Auto Receivables 2023-2
Owner Trust
437927AC0
ABS

0.20%

4.99%

4.19% 0.58 AAAAaa
01/15/27
11/15/27 110,948.42 $243.10 $110,944.01$111,187.11
$111,453.58
$111,696.68
Honda Auto Receivables 2023-2
Owner Trust 0.20%

4.99%

4.19% 0.58 AAAAaa 110,948.42 $243.10 $110,944.01$111,187.11 $111,453.58
$111,696.68

Page 181 of 533 ends

Public Trust Advisors 39
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
Honda Auto Receivables 2023-4
Owner Trust
Honda Auto Receivables 2023-4
Owner Trust
438123AC5
ABS

0.14%

5.74%

4.28% 0.81 NAAaa
09/21/27
06/21/28 74,398.77 $117.18 $74,394.46$74,511.64
$75,279.02
$75,396.20
Honda Auto Receivables 2023-4
Owner Trust 0.14%

5.74%

4.28% 0.81 NAAaa 74,398.77 $117.18 $74,394.46$74,511.64 $75,279.02
$75,396.20
Hyundai Auto Receivables Trust
2022-C
Hyundai Auto Receivables Trust
2022-C
44933DAD3
ABS

0.17%

5.45%

4.19% 0.30 AAANA
05/15/26
06/15/27 93,706.02 $224.48 $93,706.00$93,930.48
$94,062.08
$94,286.56
Hyundai Auto Receivables Trust
2022-C 0.17%

5.45%

4.19% 0.30 AAANA 93,706.02 $224.48 $93,706.00$93,930.48 $94,062.08
$94,286.56
Hyundai Auto Receivables Trust
2023-B
Hyundai Auto Receivables Trust
2023-B
44933XAD9
ABS

0.09%

5.54%

4.36% 0.62 AAANA
03/15/27
04/17/28 51,334.28 $125.03 $51,333.66$51,458.69
$51,712.94
$51,837.97
Hyundai Auto Receivables Trust
2023-B 0.09%

5.54%

4.36% 0.62 AAANA 51,334.28 $125.03 $51,333.66$51,458.69 $51,712.94
$51,837.97
John Deere Capital Corporation
John Deere Capital Corporation
24422EXF1
CORP

0.37%

4.54%

3.85% 1.22 AA1
01/08/27
01/08/27 200,000.00 $2,075.00 $199,902.57$201,977.57
$201,576.78
$203,651.78
John Deere Capital Corporation

0.37%

4.54%

3.85% 1.22 AA1 200,000.00 $2,075.00 $199,902.57$201,977.57 $201,576.78
$203,651.78
Lockheed Martin Corporation
Lockheed Martin Corporation
539830BU2
CORP

0.15%

5.05%

4.43% 0.03 AA2
10/12/25
10/15/25 80,000.00 $1,826.00 $79,996.87$81,822.87
$80,009.40
$81,835.40
Lockheed Martin Corporation
539830BU2
CORP

0.18%

4.95%

4.43% 0.03 AA2
10/12/25
10/15/25 95,000.00 2,168.38 95,000.0097,168.38
95,011.16
97,179.54
Lockheed Martin Corporation

0.33%

5.00%

4.43% 0.03 AA2 175,000.00 $3,994.38 $174,996.87$178,991.24 $175,020.56
$179,014.94

Page 182 of 533 ends

Public Trust Advisors 40
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
Mercedes-Benz Auto Receivables
Trust 2022-1
Mercedes-Benz Auto Receivables
Trust 2022-1
58768PAC8
ABS

0.20%

5.28%

4.32% 0.39 AAAAaa
08/15/26
08/16/27 110,925.76 $256.85 $110,921.76$111,178.62
$111,340.60
$111,597.46
Mercedes-Benz Auto Receivables
Trust 2022-1 0.20%

5.28%

4.32% 0.39 AAAAaa 110,925.76 $256.85 $110,921.76$111,178.62 $111,340.60
$111,597.46
Money Market Obligations Trust
- Federated Treasury Obligations
Fund
Money Market Obligations Trust
- Federated Treasury Obligations Fund
60934N872
MMFUND

8.78%

3.76%

3.76% 0.00 AAAmAaa
09/30/25
09/30/25 4,803,076.07 $0.00 $4,803,076.07$4,803,076.07
$4,803,076.07
$4,803,076.07
Money Market Obligations Trust
- Federated Treasury Obligations Fund
60934N872
MMFUND

36.56%

3.76%

3.76% 0.00 AAAmAaa
09/30/25
09/30/25 20,000,000.00 0.00 20,000,000.0020,000,000.00
20,000,000.00
20,000,000.00
Money Market Obligations Trust
- Federated Treasury Obligations
Fund 45.35%

3.76%

3.76% 0.00 AAAmAaa 24,803,076.07 $0.00 $24,803,076.07$24,803,076.07 $24,803,076.07
$24,803,076.07
National Australia Bank
Limited, New York Branch
National Australia Bank
Limited, New York Branch
63253QAA2
YANKEE

0.77%

4.97%

4.10% 0.28 AAAa2
01/12/26
01/12/26 415,000.00 $4,522.51 $415,000.00$419,522.51
$415,957.09
$420,479.59
National Australia Bank
Limited, New York Branch 0.77%

4.97%

4.10% 0.28 AAAa2 415,000.00 $4,522.51 $415,000.00$419,522.51 $415,957.09
$420,479.59
National Rural Utilities
Cooperative Finance Corporation
National Rural Utilities
Cooperative Finance Corporation
63743HFH0
CORP

0.23%

4.58%

4.32% 0.37 AA2
02/13/26
03/13/26 125,000.00 $278.13 $124,929.53$125,207.65
$125,056.21
$125,334.34
National Rural Utilities
Cooperative Finance Corporation 0.23%

4.58%

4.32% 0.37 AA2 125,000.00 $278.13 $124,929.53$125,207.65 $125,056.21
$125,334.34

Page 183 of 533 ends

Public Trust Advisors 41
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
Natixis, New York Branch
Natixis, New York Branch
63873QP65
CD

0.78%

5.61%

3.45% 0.93 A+A1
09/18/26
09/18/26 375,000.00 $42,766.64 $375,000.00$417,766.64
$381,163.91
$423,930.56
Natixis, New York Branch

0.78%

5.61%

3.45% 0.93 A+A1 375,000.00 $42,766.64 $375,000.00$417,766.64 $381,163.91
$423,930.56
Nissan Auto Receivables 2022-B
Owner Trust
Nissan Auto Receivables 2022-B
Owner Trust
65480JAC4
ABS

0.14%

4.51%

4.27% 0.42 AAAAaa
08/15/26
05/17/27 76,523.87 $151.69 $76,521.08$76,672.76
$76,597.57
$76,749.26
Nissan Auto Receivables 2022-B
Owner Trust 0.14%

4.51%

4.27% 0.42 AAAAaa 76,523.87 $151.69 $76,521.08$76,672.76 $76,597.57
$76,749.26
Nissan Auto Receivables 2023-A
Owner Trust
Nissan Auto Receivables 2023-A
Owner Trust
65480WAD3
ABS

0.23%

4.97%

4.38% 0.53 NAAaa
12/15/26
11/15/27 124,134.44 $270.89 $124,129.17$124,400.06
$124,522.51
$124,793.40
Nissan Auto Receivables 2023-A
Owner Trust 0.23%

4.97%

4.38% 0.53 NAAaa 124,134.44 $270.89 $124,129.17$124,400.06 $124,522.51
$124,793.40
Nissan Auto Receivables 2023-B
Owner Trust
Nissan Auto Receivables 2023-B
Owner Trust
65480MAD5
ABS

0.15%

6.01%

4.64% 0.62 NAAaa
04/15/27
03/15/28 82,911.86 $218.52 $82,906.89$83,125.41
$83,617.41
$83,835.93
Nissan Auto Receivables 2023-B
Owner Trust 0.15%

6.01%

4.64% 0.62 NAAaa 82,911.86 $218.52 $82,906.89$83,125.41 $83,617.41
$83,835.93
Nordea ABP - New York Branch
Nordea ABP - New York Branch
65558UYF3
CD

0.94%

5.53%

4.80% 0.09 AAAa3
11/03/25
11/03/25 500,000.00 $11,597.64 $500,000.00$511,597.64
$500,314.75
$511,912.39
Nordea ABP - New York Branch

0.94%

5.53%

4.80% 0.09 AAAa3 500,000.00 $11,597.64 $500,000.00$511,597.64 $500,314.75
$511,912.39
PACCAR Financial Corp.

Page 184 of 533 ends

Public Trust Advisors 42
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
PACCAR Financial Corp.
69371RS56
CORP

0.23%

5.07%

3.86% 0.83 A+A1
08/10/26
08/10/26 125,000.00 $894.27 $124,981.22$125,875.49
$126,242.34
$127,136.61
PACCAR Financial Corp.

0.23%

5.07%

3.86% 0.83 A+A1 125,000.00 $894.27 $124,981.22$125,875.49 $126,242.34
$127,136.61
PepsiCo, Inc.

PepsiCo, Inc.
713448FW3
CORP

0.12%

5.13%

3.81% 0.98 A+A1
10/10/26
11/10/26 65,000.00 $1,304.74 $64,993.25$66,297.99
$65,854.74
$67,159.48
PepsiCo, Inc.

0.12%

5.13%

3.81% 0.98 A+A1 65,000.00 $1,304.74 $64,993.25$66,297.99 $65,854.74
$67,159.48
State Street Corporation
State Street Corporation
857477CD3
CORP

0.37%

5.27%

3.99% 0.73 AAa3
07/04/26
08/03/26 200,000.00 $1,698.76 $200,000.00$201,698.76
$201,894.97
$203,593.73
State Street Corporation

0.37%

5.27%

3.99% 0.73 AAa3 200,000.00 $1,698.76 $200,000.00$201,698.76 $201,894.97
$203,593.73
The Goldman Sachs Group, Inc.

The Goldman Sachs Group, Inc.
38145GAH3
CORP

0.37%

5.41%

4.09% 0.95 BBB+A2
11/16/26
11/16/26 200,000.00 $2,625.00 $195,896.52$198,521.52
$198,696.97
$201,321.97
The Goldman Sachs Group, Inc.

0.37%

5.41%

4.09% 0.95 BBB+A2 200,000.00 $2,625.00 $195,896.52$198,521.52 $198,696.97
$201,321.97
The Home Depot, Inc.

The Home Depot, Inc.
437076CV2
CORP

0.19%

5.04%

3.79% 0.89 AA2
08/30/26
09/30/26 105,000.00 $14.44 $104,912.33$104,926.76
$106,090.19
$106,104.63
The Home Depot, Inc.

0.19%

5.04%

3.79% 0.89 AA2 105,000.00 $14.44 $104,912.33$104,926.76 $106,090.19
$106,104.63
Toronto-Dominion Bank - New
York Branch
Toronto-Dominion Bank - New
York Branch
89115B6K1
CD

0.96%

5.60%

4.10% 0.07 A+Aa1
10/27/25
10/27/25 500,000.00 $26,522.22 $500,000.00$526,522.22
$500,492.00
$527,014.22
Toronto-Dominion Bank - New
York Branch 0.96%

5.60%

4.10% 0.07 A+Aa1 500,000.00 $26,522.22 $500,000.00$526,522.22 $500,492.00
$527,014.22
Toyota Auto Receivables 2022-B
Owner Trust

Page 185 of 533 ends

Public Trust Advisors 43
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
Toyota Auto Receivables 2022-B
Owner Trust
89238FAD5
ABS

0.01%

1.29%

4.30% 0.04 AAAAaa
11/15/25
09/15/26 5,148.89 $6.71 $5,152.20$5,158.91
$5,145.90
$5,152.61
Toyota Auto Receivables 2022-B
Owner Trust 0.01%

1.29%

4.30% 0.04 AAAAaa 5,148.89 $6.71 $5,152.20$5,158.91
$5,145.90
$5,152.61
Toyota Auto Receivables 2022-C
Owner Trust
Toyota Auto Receivables 2022-C
Owner Trust
89231CAD9
ABS

0.05%

3.80%

4.21% 0.28 AAANA
05/15/26
04/15/27 28,300.18 $47.29 $28,299.62$28,346.91
$28,267.05
$28,314.34
Toyota Auto Receivables 2022-C
Owner Trust 0.05%

3.80%

4.21% 0.28 AAANA 28,300.18 $47.29 $28,299.62$28,346.91
$28,267.05
$28,314.34
Toyota Auto Receivables 2022-D
Owner Trust
Toyota Auto Receivables 2022-D
Owner Trust
89239HAD0
ABS

0.10%

5.36%

4.27% 0.46 NAAaa
10/15/26
09/15/27 51,639.50 $121.64 $51,638.59$51,760.23
$51,897.48
$52,019.12
Toyota Auto Receivables 2022-D
Owner Trust 0.10%

5.36%

4.27% 0.46 NAAaa 51,639.50 $121.64 $51,638.59$51,760.23 $51,897.48
$52,019.12
Toyota Auto Receivables 2023-A
Owners Trust
Toyota Auto Receivables 2023-A
Owners Trust
891940AC2
ABS

0.14%

4.67%

4.22% 0.46 AAANA
10/15/26
09/15/27 78,892.41 $162.34 $78,892.37$79,054.72
$79,058.53
$79,220.87
Toyota Auto Receivables 2023-A
Owners Trust 0.14%

4.67%

4.22% 0.46 AAANA 78,892.41 $162.34 $78,892.37$79,054.72 $79,058.53
$79,220.87
Toyota Auto Receivables 2023-B
Owner Trust
Toyota Auto Receivables 2023-B
Owner Trust
891941AD8
ABS

0.25%

4.76%

4.18% 0.63 NAAaa
04/15/27
02/15/28 136,438.15 $285.61 $136,436.10$136,721.71
$136,932.53
$137,218.15
Toyota Auto Receivables 2023-B
Owner Trust 0.25%

4.76%

4.18% 0.63 NAAaa 136,438.15 $285.61 $136,436.10$136,721.71 $136,932.53
$137,218.15

Page 186 of 533 ends

Public Trust Advisors 44
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
Toyota Motor Credit
Corporation
Toyota Motor Credit
Corporation
89236TLJ2
CORP

0.32%

4.84%

4.22% 0.26 A+A1
01/05/26
01/05/26 175,000.00 $2,006.67 $174,981.80$176,988.47
$175,243.80
$177,250.47
Toyota Motor Credit
Corporation
89236TKT1
CORP

0.39%

4.47%

3.96% 0.61 A+A1
05/18/26
05/18/26 210,000.00 3,452.46 209,973.13213,425.59
210,621.94
214,074.40
Toyota Motor Credit
Corporation 0.72%

4.64%

4.08% 0.45 A+A1 385,000.00 $5,459.13 $384,954.93$390,414.06 $385,865.74
$391,324.87
United States Department of
The Treasury
United States Department of
The Treasury
91282CFW6
US GOV

2.09%

3.99%

4.09% 0.12 AA+Aa1
11/15/25
11/15/25 1,125,000.00 $19,121.94 $1,125,682.63$1,144,804.57 $1,125,483.40
$1,144,605.34
United States Department of
The Treasury
91282CGE5
US GOV

4.70%

3.96%

3.95% 0.29 AA+Aa1
01/15/26
01/15/26 2,550,000.00 20,943.95 2,549,402.752,570,346.70 2,549,228.04
2,570,171.99
United States Department of
The Treasury
91282CGL9
US GOV

1.71%

4.64%

3.94% 0.37 AA+Aa1
02/15/26
02/15/26 930,000.00 4,751.09 927,833.52932,584.61
930,145.31
934,896.40
United States Department of
The Treasury
91282CGV7
US GOV

2.14%

3.83%

3.83% 0.52 AA+Aa1
04/15/26
04/15/26 1,150,000.00 19,912.91 1,149,497.641,169,410.55 1,149,483.40
1,169,396.31
United States Department of
The Treasury
91282CHB0
US GOV

3.15%

3.98%

3.84% 0.60 AA+Aa1
05/15/26
05/15/26 1,700,000.00 23,276.83 1,696,321.741,719,598.58 1,697,669.15
1,720,945.98
United States Department of
The Treasury
91282CHH7
US GOV

1.81%

4.48%

3.78% 0.68 AA+Aa1
06/15/26
06/15/26 975,000.00 11,867.83 972,625.81984,493.64
977,262.30
989,130.13
United States Department of
The Treasury
91282CHM6
US GOV

2.88%

4.56%

3.77% 0.77 AA+Aa1
07/15/26
07/15/26 1,550,000.00 14,783.97 1,549,315.101,564,099.07 1,558,633.98
1,573,417.95
United States Department of
The Treasury
91282CHU8
US GOV

2.03%

4.73%

3.76% 0.85 AA+Aa1
08/15/26
08/15/26 1,100,000.00 6,146.40 1,096,736.411,102,882.81 1,105,714.84
1,111,861.24
United States Department of
The Treasury
91282CHY0
US GOV

1.85%

4.89%

3.73% 0.93 AA+Aa1
09/15/26
09/15/26 1,000,000.00 2,044.20 997,576.47999,620.67
1,008,351.56
1,010,395.76

Page 187 of 533 ends

Public Trust Advisors 45
07/01/2025 to 09/30/2025
City of Los Altos, CA
GASB 40
Issuer
Identifier
Security Type
% of Market Value
Book Yield
Market Yield
Duration S&P
Moody's
Effective Maturity
Final Maturity
Current Units Accrued Book Value
Book Value + Accrued
Market Value
Market Value + Accrued
United States Department of
The Treasury
91282CJC6
US GOV

0.85%

4.73%

3.71% 0.99 AA+Aa1
10/15/26
10/15/26 450,000.00 9,610.14 449,536.14459,146.28
454,160.74
463,770.88
United States Department of
The Treasury
91282CJK8
US GOV

2.35%

4.34%

3.73% 1.07 AA+Aa1
11/15/26
11/15/26 1,250,000.00 21,836.79 1,253,923.071,275,759.86 1,262,158.20
1,283,994.99
United States Department of
The Treasury
91282CJP7
US GOV

3.45%

4.09%

3.70% 1.15 AA+Aa1
12/15/26
12/15/26 1,850,000.00 23,883.20 1,856,083.471,879,966.66 1,864,453.13
1,888,336.32
United States Department of
The Treasury
91282CJP7
US GOV

0.93%

4.23%

3.70% 1.15 AA+Aa1
12/15/26
12/15/26 500,000.00 6,454.92 500,845.02507,299.94
503,906.25
510,361.17
United States Department of
The Treasury 29.93%

4.27%

3.83% 0.69 AA+Aa1 16,130,000.00 $184,634.17 $16,125,379.78$16,310,013.94 $16,186,650.30
$16,371,284.46
UnitedHealth Group
Incorporated
UnitedHealth Group
Incorporated
91324PEN8
CORP

0.15%

5.15%

4.52% 0.04 A+A2
10/15/25
10/15/25 80,000.00 $1,899.78 $79,999.88$81,899.66
$80,017.55
$81,917.32
UnitedHealth Group
Incorporated 0.15%

5.15%

4.52% 0.04 A+A2 80,000.00 $1,899.78 $79,999.88$81,899.66 $80,017.55
$81,917.32
Wells Fargo & Company
Wells Fargo & Company
949746RW3
CORP

0.37%

5.11%

4.06% 0.54 BBB+A1
04/22/26
04/22/26 200,000.00 $2,650.00 $197,710.23$200,360.23
$198,836.79
$201,486.79
Wells Fargo & Company

0.37%

5.11%

4.06% 0.54 BBB+A1 200,000.00 $2,650.00 $197,710.23$200,360.23 $198,836.79
$201,486.79
Wells Fargo Bank, National
Association
Wells Fargo Bank, National
Association
94988J6F9
CORP

0.71%

5.25%

3.92% 1.06 A+Aa2
11/10/26
12/11/26 375,000.00 $6,020.21 $375,000.00$381,020.21
$380,388.22
$386,408.43
Wells Fargo Bank, National
Association 0.71%

5.25%

3.92% 1.06 A+Aa2 375,000.00 $6,020.21 $375,000.00$381,020.21 $380,388.22
$386,408.43
Portfolio Total
100.00%

4.13%

3.86% 0.36 AAAa1
02/26/26
03/24/26 54,281,555.52 $345,183.14 $54,225,411.42$54,570,594.56 $54,352,122.95
$54,697,306.08

Page 188 of 533 ends

Public Trust Advisors 46
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
Cash
CCYUSD
CASH
09/30/25
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
($20,000,000.00)
$0.00
$0.00
$0.00
$0.00
$0.00
Receivable
CCYUSD
CASH
09/30/25
56,177.74
56,177.74
56,177.74

0.00 0.00

0.00 0.00
45,101.92
45,101.92
45,101.92
Cash
CCYUSD
CASH
09/30/25

0.00 0.00

0.00 0.00
20,000,000.00

0.00 0.00

0.00 Receivable
CCYUSD
CASH
09/30/25

0.00 0.00

0.00 28,924.96
28,924.96
28,924.96

FEDERATED HRMS TRS SVC
60934N872
MMFUND
09/30/25
18,764,165.96
18,764,165.96
18,764,165.96
6,014,980.03

0.00 (19,976,069.92)

0.00 0.00

0.00 201,174.68

0.00 0.00

0.00 4,803,076.07
4,803,076.07
4,803,076.07

FEDERATED HRMS TRS SVC
60934N872
MMFUND
09/30/25

0.00 0.00

0.00 20,000,000.00

0.00 0.00

0.00 20,000,000.00
20,000,000.00
20,000,000.00
BACCT 2023-1 A
05522RDG0
ABS
05/15/26
119,972.83
120,513.28
120,513.28

0.00 0.00

0.00 0.00
1,437.00

0.00 0.00
604.07
119,972.83
120,598.10
119,994.03
AMXCA 2023-1 A
02582JJZ4
ABS
05/15/26
139,987.58
140,722.53
140,722.53

0.00 0.00

0.00 0.00
1,704.51

0.00 0.00
763.87
139,987.58
140,760.79
139,996.92
BMWOT 2022-A A3
05602RAD3
ABS
08/25/26
12,066.99
11,760.18
11,760.18

0.00 0.00

0.00 (11,781.47)

58.89 0.00

0.02 0.00

0.00 0.00

0.00 COPAR 2021-1 A3
14044CAC6
ABS
09/15/26
2,817.40
1,913.30
1,913.30

0.00 0.00

0.00 (1,916.35)

1.23 0.00
(0.01)

0.00 0.00

0.00 0.00
TAOT 2022-B A3
89238FAD5
ABS
09/15/26
21,689.80
21,225.47
21,225.47

0.00 0.00

0.00 (16,129.73)
115.26

0.00 (0.00)
(6.30)
5,248.38
5,145.90
5,152.20
GMCAR 2021-4 A3
362554AC1
ABS
09/16/26
373.34
251.64
251.64

0.00 0.00

0.00 (252.01)

0.14 0.00
(0.03)

0.00 0.00

0.00 0.00
HART 2022-A A3
448977AD0
ABS
10/15/26
10,006.06
9,119.60
9,119.60

0.00 0.00

0.00 (9,134.82)

23.77 0.00
(0.02)

0.00 0.00

Page 189 of 533 ends

Public Trust Advisors 47
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
BACCT 2023-2 A
05522RDH8
ABS
11/16/26
169,977.17
171,798.24
171,798.24

0.00 0.00

0.00 0.00
2,116.50

0.00 0.00
2,095.64
169,977.17
172,086.04
169,990.40
GMCAR 2022-1 A3
380146AC4
ABS
11/16/26
4,317.55
3,382.06
3,382.06

0.00 0.00

0.00 (3,386.84)

3.56 0.00
(0.02)

0.00 0.00

0.00 0.00
ALLYA 2022-1 A3
02008JAC0
ABS
11/16/26
28,172.90
25,300.87
25,300.87

0.00 0.00

0.00 (25,229.65)
137.82

0.00 (0.00)
(0.18)
118.67
106.68
106.86
HDMOT 2022-A A3
41284YAD8
ABS
02/16/27
22,256.76
18,068.17
18,068.17

0.00 0.00

0.00 (18,091.45)

71.87 0.00

0.02 0.00

0.00 0.00

0.00 GMCAR 2022-2 A3
362585AC5
ABS
02/16/27
25,212.12
25,130.29
25,130.29

0.00 0.00

0.00 (14,297.49)
157.59

0.00 (0.00)
(13.36)
10,917.61
10,906.40
10,919.75
CARMX 2022-2 A3
14317HAC5
ABS
02/16/27
35,985.34
33,488.21
33,488.21

0.00 0.00

0.00 (21,148.47)
231.04

0.00 (0.01)
(47.56)
13,312.07
12,409.55
12,457.11
TAOT 2022-C A3
89231CAD9
ABS
04/15/27
42,432.50
42,312.56
42,312.56

0.00 0.00

0.00 (14,139.41)
353.51

0.00 (0.00)
(32.57)
28,295.45
28,267.05
28,299.62
CARMX 2022-3 A3
14318MAD1
ABS
04/15/27
87,296.62
87,108.34
87,108.34

0.00 0.00

0.00 (34,079.44)
753.37

0.00 0.00
(31.22)
53,217.98
53,187.88
53,219.10
GMCAR 2022-3 A3
36265WAD5
ABS
04/16/27
41,960.55
41,880.80
41,880.80

0.00 0.00

0.00 (21,661.35)
314.36

0.00 (0.01)
(15.89)
20,299.34
20,283.58
20,299.47
ALLYA 2022-2 A3
02008MAC3
ABS
05/17/27
144,177.37
144,234.07
144,234.07

0.00 0.00

0.00 (57,125.80)
1,487.44

0.00 (0.00)

89.06 87,052.27
87,142.30
87,053.24
NAROT 2022-B A3
65480JAC4
ABS
05/17/27
106,979.31
106,961.07
106,961.07

0.00 0.00

0.00 (30,477.58)
1,081.27

0.00 0.00

76.49 76,508.04
76,597.57
76,521.08
HART 2022-C A3
44933DAD3
ABS
06/15/27
142,830.28
143,339.29
143,339.29

0.00 0.00

0.00 (49,124.95)
1,705.68

0.00 0.01
356.08
93,705.58
94,062.08
93,706.00
DCENT 2022-3 A
254683CW3
ABS
07/15/27
299,962.77
299,906.58
299,906.58

0.00 0.00

0.00 (300,000.00)
890.00

0.00 0.00

Page 190 of 533 ends

Public Trust Advisors 48
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
CARMX 2022-4 A3
14318UAD3
ABS
08/16/27
136,866.05
137,336.16
137,336.16

0.00 0.00

0.00 (41,325.36)
1,646.38

0.00 (0.01)
358.08
95,550.38
95,927.21
95,569.14
MBART 2022-1 A3
58768PAC8
ABS
08/16/27
158,919.12
159,442.06
159,442.06

0.00 0.00

0.00 (48,024.79)
1,853.86

0.00 (0.00)
418.84
110,903.82
111,340.60
110,921.76
TAOT 2023-A A3
891940AC2
ABS
09/15/27
103,518.09
103,564.14
103,564.14

0.00 0.00

0.00 (24,625.73)
1,101.57

0.00 0.00
166.16
78,892.37
79,058.53
78,892.37
TAOT 2022-D A3
89239HAD0
ABS
09/15/27
67,373.48
67,709.73
67,709.73

0.00 0.00

0.00 (15,740.64)
821.60

0.00 0.00
258.89
51,634.40
51,897.48
51,638.59
AMXCA 2022-4 A
02582JJX9
ABS
10/15/27
119,994.05
120,158.20
120,158.20

0.00 0.00

0.00 0.00
1,485.00

0.00 0.00

30.69 119,994.05
120,030.61
119,999.92
NAROT 2023-A A3
65480WAD3
ABS
11/15/27
166,436.72
166,811.34
166,811.34

0.00 0.00

0.00 (42,331.69)
1,870.94

0.00 0.00
393.34
124,112.51
124,522.51
124,129.17
HAROT 2023-2 A3
437927AC0
ABS
11/15/27
141,223.05
141,648.68
141,648.68

0.00 0.00

0.00 (30,297.50)
1,614.99

0.00 (0.00)
509.57
110,930.45
111,453.58
110,944.01
HDMOT 2023-A A3
41285JAD0
ABS
12/15/27
100,260.08
100,474.19
100,474.19

0.00 0.00

0.00 (27,023.89)
1,153.27

0.00 (0.00)
245.07
73,238.91
73,489.89
73,244.83
TAOT 2023-B A3
891941AD8
ABS
02/15/28
168,924.22
169,241.36
169,241.36

0.00 0.00

0.00 (32,495.51)
1,859.61

0.00 (0.00)
496.43
136,430.52
136,932.53
136,436.10
FORDO 2023-A A3
344928AD8
ABS
02/15/28
88,759.34
88,866.30
88,866.30

0.00 0.00

0.00 (20,701.79)
949.76

0.00 0.01
185.34
68,059.71
68,250.43
68,065.09
GMCAR 2023-2 A3
362583AD8
ABS
02/16/28
99,445.46
99,424.16
99,424.16

0.00 0.00

0.00 (23,646.76)
1,021.72

0.00 0.00
136.83
75,799.35
75,937.78
75,800.95
BMWOT 2023-A A3
05592XAD2
ABS
02/25/28
63,944.14
64,335.54
64,335.54

0.00 0.00

0.00 (14,748.10)
806.45

0.00 0.00
349.90
49,198.66
49,554.92
49,205.02
NAROT 2023-B A3
65480MAD5
ABS
03/15/28
104,978.69
105,826.81
105,826.81

0.00 0.00

0.00 (22,088.14)
1,460.97

0.00 (0.00)
710.52
82,895.03
83,617.41
82,906.89

Page 191 of 533 ends

Public Trust Advisors 49
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
DCENT 2023-1 A
254683CY9
ABS
03/15/28
299,982.60
299,725.86
299,725.86

0.00 0.00

0.00 0.00
3,232.50

0.00 0.00
330.81
299,982.60
300,327.51
299,996.70
HART 2023-B A3
44933XAD9
ABS
04/17/28
64,963.01
65,382.64
65,382.64

0.00 0.00

0.00 (13,631.55)
828.27

0.00 0.01
379.29
51,332.06
51,712.94
51,333.66
FORDO 2023-B A3
344930AD4
ABS
05/15/28
137,744.46
138,499.45
138,499.45

0.00 0.00

0.00 (27,504.93)
1,676.14

0.00 0.01
802.73
110,239.91
111,043.66
110,240.92
GMCAR 2023-3 A3
36267KAD9
ABS
06/16/28
67,327.25
67,754.76
67,754.76

0.00 0.00

0.00 (13,286.59)
856.32

0.00 (0.01)
444.50
54,041.17
54,487.11
54,042.60
HAROT 2023-4 A3
438123AC5
ABS
06/21/28
84,985.03
85,906.53
85,906.53

0.00 0.00

0.00 (10,601.23)
1,179.65

0.00 (0.00)
884.56
74,385.67
75,279.02
74,394.46
FITAT 2023-1 A3
31680EAD3
ABS
08/15/28
244,125.23
246,047.47
246,047.47

0.00 0.00

0.00 (45,432.48)
3,160.81

0.00 (0.00)
1,833.45
198,695.57
200,537.23
198,703.78
CHAIT 2023-1 A
161571HT4
ABS
09/15/28
379,894.66
384,391.62
384,391.62

0.00 0.00

0.00 0.00
4,902.00

0.00 0.00
4,615.77
379,894.66
384,580.44
379,964.67
Toronto-Dominion Bank - New
York Branch
89115B6K1
CD
10/27/25
500,000.00
501,856.15
501,856.15

0.00 0.00

0.00 492.00
500,000.00
500,492.00
500,000.00
Nordea ABP - New York Branch
65558UYF3
CD
11/03/25
500,000.00
501,685.70
501,685.70

0.00 0.00

0.00 314.75
500,000.00
500,314.75
500,000.00
Coöperatieve Rabobank U.A.,
New York Branch
21684LGS5
CD
07/17/26
475,000.00
481,600.70
481,600.70

0.00 0.00

0.00 0.00
12,065.00

0.00 0.00
5,646.85
475,000.00
480,646.85
475,000.00
Natixis, New York Branch
63873QP65
CD
09/18/26
375,000.00
381,625.50
381,625.50

0.00 0.00

0.00 0.00
21,329.69

0.00 0.00
6,163.91
375,000.00
381,163.91
375,000.00

JPMORGAN CHASE & CO
46625HMN7
CORP
07/15/25
232,026.75
224,915.20
224,915.20

0.00 0.00

0.00 0.00
(225,000.00)

0.00 4,387.50

0.00 0.00

MORGAN STANLEY
6174468C6
CORP
07/23/25
84,900.55
84,920.07
84,920.07

0.00 0.00

0.00 0.00
(85,000.00)

0.00 1,700.00

0.00 0.00

Page 192 of 533 ends

Public Trust Advisors 50
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value

INTERNATIONAL BUSINESS

MACHINES CORP
459200KS9
CORP
07/27/25
375,000.00
374,834.45
374,834.45

0.00 0.00

0.00 0.00
(375,000.00)

0.00 7,500.00

0.00 0.00

INTEL CORP
458140AS9
CORP
07/29/25
195,476.00
199,343.77
199,343.77

0.00 0.00

0.00 0.00
(200,000.00)

0.00 3,700.00

0.00 0.00

BANK OF AMERICA CORP
06051GFS3
CORP
08/01/25
232,420.50
224,878.44
224,878.44

0.00 0.00

0.00 0.00
(225,000.00)

0.00 4,359.38

0.00 0.00

COLGATE-PALMOLIVE CO
194162AM5
CORP
08/15/25
54,949.40
54,894.80
54,894.80

0.00 0.00

0.00 0.00
(55,000.00)

0.00 852.50

0.00 0.00

WALMART INC
931142EW9
CORP
09/09/25
149,895.00
149,864.99
149,864.99

0.00 0.00

0.00 0.00
(150,000.00)

0.00 2,925.00

0.00 0.00

COMMONWEALTH BANK

OF AUSTRALIA (NEW YORK

BRANCH)
20271RAS9
CORP
09/12/25
250,230.00
250,445.26
250,445.26

0.00 0.00

0.00 0.00
(250,000.00)

0.00 6,873.75

0.00 0.00

HOME DEPOT INC
437076CR1
CORP
09/15/25
54,980.20
54,942.85
54,942.85

0.00 0.00

0.00 0.00
(55,000.00)

0.00 1,100.00

0.00 0.00

AMERICAN HONDA FINANCE
CORP
02665WEQ0
CORP
10/03/25
174,837.25
175,477.27
175,477.27

0.00 0.00

0.00 14.23
174,837.25
175,013.76
174,999.53

LOCKHEED MARTIN CORP
539830BU2
CORP
10/15/25
79,772.00
80,022.48
80,022.48

0.00 0.00

0.00 12.53
79,772.00
80,009.40
79,996.87

UNITEDHEALTH GROUP INC
91324PEN8
CORP
10/15/25
79,992.80
80,134.85
80,134.85

0.00 0.00

0.00 17.67
79,992.80
80,017.55
79,999.88

LOCKHEED MARTIN CORP
539830BU2
CORP
10/15/25
95,046.55
95,026.69
95,026.69

0.00 0.00

0.00 11.16
95,046.55
95,011.16
95,000.00

BRISTOL-MYERS SQUIBB CO
110122DN5
CORP
11/13/25
118,435.00
123,383.13
123,383.13

0.00 0.00

0.00 (296.75)
118,435.00
124,489.44
124,786.19

Page 193 of 533 ends

Public Trust Advisors 51
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value

AUSTRALIA AND NEW

ZEALAND BANKING GROUP

LTD (NEW Y
05254JAA8
CORP
12/08/25
250,000.00
250,594.97
250,594.97

0.00 0.00

0.00 329.52
250,000.00
250,329.52
250,000.00

TOYOTA MOTOR CREDIT
CORP
89236TLJ2
CORP
01/05/26
174,865.25
175,427.68
175,427.68

0.00 0.00

0.00 0.00
4,200.00

0.00 0.00
262.00
174,865.25
175,243.80
174,981.80

CITIGROUP INC
172967KG5
CORP
01/12/26
194,698.00
199,283.30
199,283.30

0.00 0.00

0.00 0.00
3,700.00

0.00 0.00
226.13
194,698.00
199,647.72
199,421.59

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE
CORP
63743HFH0
CORP
03/13/26
124,536.25
125,052.50
125,052.50

0.00 0.00

0.00 0.00
2,781.25

0.00 0.00
126.68
124,536.25
125,056.21
124,929.53

BANK OF AMERICA CORP
06051GFX2
CORP
04/19/26
170,066.75
173,788.43
173,788.43

0.00 0.00

0.00 428.11
170,066.75
174,452.71
174,024.60

WELLS FARGO & CO
949746RW3
CORP
04/22/26
188,176.00
197,794.12
197,794.12

0.00 0.00

0.00 1,126.56
188,176.00
198,836.79
197,710.23

CATERPILLAR FINANCIAL

SERVICES CORP
14913UAA8
CORP
05/15/26
249,882.50
250,141.92
250,141.92

0.00 0.00

0.00 747.83
249,882.50
250,722.28
249,974.45

TOYOTA MOTOR CREDIT
CORP
89236TKT1
CORP
05/18/26
209,878.20
210,366.67
210,366.67

0.00 0.00

0.00 648.81
209,878.20
210,621.94
209,973.13

AMERICAN HONDA FINANCE
CORP
02665WEK3
CORP
07/07/26
50,252.00
50,419.74
50,419.74

0.00 0.00

0.00 0.00
1,312.50

0.00 0.00
353.80
50,252.00
50,423.22
50,069.42

AMERICAN HONDA FINANCE
CORP
02665WEK3
CORP
07/07/26
84,895.45
85,713.55
85,713.55

0.00 0.00

0.00 0.00
2,231.25

0.00 0.00
747.68
84,895.45
85,719.48
84,971.79

AMERICAN HONDA FINANCE
CORP
02665WEK3
CORP
07/07/26
64,583.35
65,545.66
65,545.66

0.00 0.00

0.00 0.00
1,706.25

0.00 0.00
663.14
64,583.35
65,550.19
64,887.05

BANK OF NEW YORK

MELLON CORP
06406RBJ5
CORP
07/24/26
170,554.20
169,926.44
169,926.44

0.00 0.00

0.00 0.00
(170,000.00)

0.00 3,751.90

0.00 0.00

Page 194 of 533 ends

Public Trust Advisors 52
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value

BANK OF NEW YORK

MELLON CORP
06406RBJ5
CORP
07/24/26
80,000.00
79,965.38
79,965.38

0.00 0.00

0.00 0.00
(80,000.00)

0.00 1,765.60

0.00 0.00

TRUIST FINANCIAL CORP
89788MAH5
CORP
07/28/26
65,000.00
64,973.83
64,973.83

0.00 0.00

0.00 0.00
(65,000.00)

0.00 1,384.50

0.00 0.00

TRUIST FINANCIAL CORP
89788MAH5
CORP
07/28/26
65,065.00
64,973.83
64,973.83

0.00 0.00

0.00 0.00
(65,000.00)

0.00 1,384.50

0.00 0.00

STATE STREET CORP
857477CD3
CORP
08/03/26
200,000.00
202,008.32
202,008.32

0.00 0.00

0.00 0.00
5,272.00

0.00 0.00
1,894.97
200,000.00
201,894.97
200,000.00

PACCAR FINANCIAL CORP
69371RS56
CORP
08/10/26
124,937.50
126,304.84
126,304.84

0.00 0.00

0.00 0.00
3,156.25

0.00 0.00
1,261.13
124,937.50
126,242.34
124,981.22

BANK OF AMERICA NA
06428CAA2
CORP
08/18/26
275,000.00
278,900.20
278,900.20

0.00 0.00

0.00 0.00
7,598.25

0.00 0.00
3,421.12
275,000.00
278,421.12
275,000.00

HOME DEPOT INC
437076CV2
CORP
09/30/26
104,770.05
106,037.20
106,037.20

0.00 0.00

0.00 0.00
2,598.75

0.00 0.00
1,177.87
104,770.05
106,090.19
104,912.33

PEPSICO INC
713448FW3
CORP
11/10/26
64,982.45
65,818.95
65,818.95

0.00 0.00

0.00 861.49
64,982.45
65,854.74
64,993.25

GOLDMAN SACHS GROUP
INC
38145GAH3
CORP
11/16/26
188,710.00
197,660.46
197,660.46

0.00 0.00

0.00 2,800.46
188,710.00
198,696.97
195,896.52

WELLS FARGO BANK NA
94988J6F9
CORP
12/11/26
375,000.00
380,407.46
380,407.46

0.00 0.00

0.00 5,388.22
375,000.00
380,388.22
375,000.00

JOHN DEERE CAPITAL CORP
24422EXF1
CORP
01/08/27
199,778.00
201,256.99
201,256.99

0.00 0.00

0.00 0.00
4,500.00

0.00 0.00
1,674.20
199,778.00
201,576.78
199,902.57

AUSTRALIA AND NEW

ZEALAND BANKING GROUP

LTD (NEW Y
05253JAZ4
CORP
01/18/27
250,000.00
252,546.28
252,546.28

0.00 0.00

0.00 0.00
5,937.50

0.00 0.00
2,630.38
250,000.00
252,630.38
250,000.00

COMCAST CORP
20030NBY6
CORP
02/01/27
186,160.00
197,186.55
197,186.55

0.00 0.00

0.00 0.00
3,300.00

0.00 0.00
4,269.10
186,160.00
198,284.29
194,015.19

Page 195 of 533 ends

Public Trust Advisors 53
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
FHMS K-053 A2
3137BN6G4

GSE MBS
12/25/25
218,696.68
219,534.53
219,534.53

0.00 0.00

0.00 (56,834.54)
1,593.12

0.00 (0.00)
(270.38)
162,517.07
163,703.42
163,973.80
FHMS K-054 A2
3137BNGT5

GSE MBS
01/25/26
236,667.84
244,248.12
244,248.12

0.00 0.00

0.00 (12,325.76)
1,667.83

0.00 (0.01)
209.59
224,852.44
233,242.95
233,033.37
FHMS K-054 A2
3137BNGT5

GSE MBS
01/25/26
195,262.81
199,839.37
199,839.37

0.00 0.00

0.00 (10,084.72)
1,364.59

0.00 (0.00)

9.12 185,514.51
190,835.14
190,826.02
FNA 2016-M03 A2
3136ARTE8

GSE MBS
02/25/26
205,503.07
119,705.44
119,705.44

0.00 0.00

0.00 (14,759.78)
761.32

0.00 0.01
(8,052.37)
180,485.66
105,753.44
113,805.81
FHMS K-736 A2
3137FNWX4

GSE MBS
07/25/26
223,583.31
236,302.55
236,302.55

0.00 0.00

0.00 (1,154.51)
1,372.49

0.00 (0.00)
2,163.36
222,512.09
236,724.34
234,560.98
FHMS K-057 A2
3137BRQJ7

GSE MBS
07/25/26
234,958.83
242,929.32
242,929.32

0.00 0.00

0.00 (8,166.96)
1,555.82

0.00 (0.00)
546.35
227,193.20
236,279.07
235,732.73
FHMS K-057 A2
3137BRQJ7

GSE MBS
07/25/26
229,785.14
242,929.32
242,929.32

0.00 0.00

0.00 (8,166.96)
1,555.82

0.00 (0.00)
1,557.66
222,190.51
236,279.07
234,721.41
FHMS K-058 A2
3137BSP72

GSE MBS
08/25/26
383,156.25
392,621.04
392,621.04

0.00 0.00

0.00 0.00
2,652.99

0.00 0.00
366.12
383,156.25
395,286.32
394,920.20
FNA 2016-M12 A2
3136AUKX8

GSE MBS
09/25/26
270,620.13
260,847.11
260,847.11

0.00 0.00

0.00 (16,107.28)
1,624.83

0.00 (0.00)
(5,012.21)
254,259.37
246,617.09
251,629.30
FHMS K-059 A2
3137BSRE5

GSE MBS
09/25/26
260,465.82
271,172.77
271,172.77

0.00 0.00

0.00 (92.09)
2,145.00

0.00 (0.00)
2,979.67
260,378.59
272,572.23
269,592.56
FHMS K-062 A2
3137BUX60

GSE MBS
12/25/26
261,840.82
271,668.27
271,668.27

0.00 0.00

0.00 0.00
2,346.44

0.00 0.00
3,817.23
261,840.82
273,134.68
269,317.45
FHMS K-062 A2
3137BUX60

GSE MBS
12/25/26
262,485.35
271,668.27
271,668.27

0.00 0.00

0.00 0.00
2,346.44

0.00 0.00
3,586.16
262,485.35
273,134.68
269,548.51
FHMS K-063 A2
3137BVZ82

GSE MBS
01/25/27
259,273.44
271,731.79
271,731.79

0.00 0.00

0.00 0.00
2,358.12

0.00 0.00
4,860.77
259,273.44
273,249.43
268,388.66

Page 196 of 533 ends

Public Trust Advisors 54
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value
FHMS K-065 A2
3137F1G44

GSE MBS
04/25/27
244,938.28
255,894.89
255,894.89

0.00 0.00

0.00 0.00
2,107.95

0.00 0.00
4,497.01
244,938.28
257,244.47
252,747.46
FHMS K-092 A1
3137FLYU2

GSE MBS
10/25/28
181,876.80
168,103.46
168,103.46

0.00 0.00

0.00 (12,054.43)
1,304.01

0.00 0.00
(7,578.60)
169,058.69
157,005.16
164,583.76

UNITED STATES TREASURY
91282CEY3
US GOV
07/15/25
418,708.01
424,772.82
424,772.82

0.00 0.00

0.00 0.00
(425,000.00)

0.00 6,375.00

0.00 0.00

UNITED STATES TREASURY
91282CEY3
US GOV
07/15/25
1,195,453.13
1,199,358.56
1,199,358.56

0.00 0.00

0.00 0.00
(1,200,000.00)

0.00 18,000.00

0.00 0.00

UNITED STATES TREASURY
91282CFK2
US GOV
09/15/25
587,976.56
599,343.75
599,343.75

0.00 0.00

0.00 0.00
(600,000.00)

0.00 10,500.00

0.00 0.00

UNITED STATES TREASURY
91282CFW6
US GOV
11/15/25
1,140,468.75
1,125,560.31
1,125,560.31

0.00 0.00

0.00 (199.23)
1,140,468.75
1,125,483.40
1,125,682.63

UNITED STATES TREASURY
91282CGE5
US GOV
01/15/26
2,544,123.05
2,546,563.47
2,546,563.47

0.00 0.00

0.00 0.00
49,406.25

0.00 0.00
(174.71)
2,544,123.05
2,549,228.04
2,549,402.75

UNITED STATES TREASURY
91282CGL9
US GOV
02/15/26
913,725.00
928,828.41
928,828.41

0.00 0.00

0.00 0.00
18,600.00

0.00 0.00
2,311.79
913,725.00
930,145.31
927,833.52

UNITED STATES TREASURY
91282CGV7
US GOV
04/15/26
1,147,349.61
1,147,012.69
1,147,012.69

0.00 0.00

0.00 (14.25)
1,147,349.61
1,149,483.40
1,149,497.64

UNITED STATES TREASURY
91282CHB0
US GOV
05/15/26
1,683,332.03
1,693,691.40
1,693,691.40

0.00 0.00

0.00 1,347.40
1,683,332.03
1,697,669.15
1,696,321.74

UNITED STATES TREASURY
91282CHH7
US GOV
06/15/26
965,478.52
976,199.71
976,199.71

0.00 0.00

0.00 4,636.49
965,478.52
977,262.30
972,625.81

UNITED STATES TREASURY
91282CHM6
US GOV
07/15/26
1,547,517.58
1,558,158.69
1,558,158.69

0.00 0.00

0.00 0.00
34,875.00

0.00 0.00
9,318.88
1,547,517.58
1,558,633.98
1,549,315.10

UNITED STATES TREASURY
91282CHU8
US GOV
08/15/26
1,089,515.63
1,104,769.53
1,104,769.53

0.00 0.00

0.00 0.00
24,062.50

0.00 0.00
8,978.43
1,089,515.63
1,105,714.84
1,096,736.41

Page 197 of 533 ends

Public Trust Advisors 55
07/01/2025 to 09/30/2025
City of Los Altos, CA
Portfolio Activity Summary
Description
Identifier
Security Type
Final Maturity
Beginning Original Cost
Beginning Market Value
Beginning Book Value
Purchases
Purchased Accrued
Sales
Disposed Accrued
Maturities
Paydowns
Interest Received
Transfers
Realized Gain/Loss
Unrealized Gain/Loss
Ending Original Cost
Ending Market Value
Ending Book Value

UNITED STATES TREASURY
91282CHY0
US GOV
09/15/26
992,851.56
1,008,046.88
1,008,046.88

0.00 0.00

0.00 0.00
23,125.00

0.00 0.00
10,775.09
992,851.56
1,008,351.56
997,576.47

UNITED STATES TREASURY
91282CJC6
US GOV
10/15/26
448,734.38
454,007.81
454,007.81

0.00 0.00

0.00 4,624.60
448,734.38
454,160.74
449,536.14

UNITED STATES TREASURY
91282CJK8
US GOV
11/15/26
1,259,814.45
1,262,109.38
1,262,109.38

0.00 0.00

0.00 8,235.13
1,259,814.45
1,262,158.20
1,253,923.07

UNITED STATES TREASURY
91282CJP7
US GOV
12/15/26
1,864,308.59
1,863,802.74
1,863,802.74

0.00 0.00

0.00 8,369.66
1,864,308.59
1,864,453.13
1,856,083.47

UNITED STATES TREASURY
91282CJP7
US GOV
12/15/26
501,972.66
503,730.47
503,730.47

0.00 0.00

0.00 3,061.23
501,972.66
503,906.25
500,845.02

NATIONAL AUSTRALIA BANK

LTD (NEW YORK BRANCH)
63253QAA2
YANKEE
01/12/26
415,000.00
416,246.50
416,246.50

0.00 0.00

0.00 0.00
10,304.45

0.00 0.00
957.09
415,000.00
415,957.09
415,000.00
Portfolio Total
$53,603,680.70
$53,774,654.19
$53,677,134.99
$26,014,980.03
$0.00
($19,976,069.92)
$0.00
($4,225,000.00)
($1,221,230.52)
$592,679.59
$0.00
($0.08)
$126,711.53
$54,206,031.13
$54,426,149.83
$54,299,438.30

Page 198 of 533 ends

Public Trust Advisors 56
07/01/2025 to 09/30/2025
City of Los Altos, CA
This information is for the sole purposes of the client and is not intended to provide specific advice or recommendations. Please review the contents of this information carefully. Should you have any questions regarding the information presented, calculation methodology, investment portfolio, security detail, or any other facet of this information, please feel free to contact us.

Disclaimers
Disclaimers

Page 199 of 533 ends

Contact
Regional Office
6701 Koll Center Parkway, Suite 250
Pleasanton, CA 94556
Headquarters
717 17th Street, Suite 1850
Denver, CO 80202

Page 200 of 533 ends

City Council Staff Report
Meeting Date: November 18, 2025
Prepared By: Scott Gerdes
Approved By: Gabe Engeland
Subject: Adoption of Resolution - Approve a Successor Memorandum of Understanding

COUNCIL PRIORITY AREA
General Government

RECOMMENDATION
Adopt a Resolution to approve a successor Memorandum of Understanding between the City of Los Altos and Sanitary Truck Drivers and Helpers Union Local # 350

ENVIRONMENTAL IMPACT
This action does not qualify as a “Project” as defined in California Government Code Section 15378(b) of the Guidelines for California Environmental Quality Act (CEQA).

FISCAL IMPACT
No additional fiscal impact for Fiscal Year 2025/2026.
$129,000 in increased General Fund Expenditures for Fiscal Year 2026/2027.

PREVIOUS COUNCIL CONSIDERATION
July 12, 2022 – Adoption of MOU between City of Los Altos & Sanitary Truck Drivers and Helpers Union Local # 350 for a five-year agreement between July 1, 2022 – June 30, 2027 July 9, 2024 - Side Letter Agreement with the Sanitary Truck Drivers and Helpers Union Local # 350 to clarify how to treat a tie for the 6th Peer City under Article 7. PAY RATES AND

PRACTICES

BACKGROUND
In July 2022, the City and Teamsters Local 350 entered a five-year MOU that incorporated additional pay and benefits consistent with the Council-adopted Total Compensation Philosophy.

Since implementation, the city has experienced strong retention within the group, with only four separations: two probationary releases for not meeting core expectations, and two employees who relocated out of state.

In May 2025, the city conducted a market survey comparing Fiscal Year 2025/2026 base pay for classifications represented by Teamsters Local 350 against eight peer cities: Los Gatos, Foster City, Campbell, San Carlos, Morgan Hill, East Palo Alto, Belmont, and Milpitas. Peer cities were selected based on geographic proximity, population, number of full-time equivalent (FTE)

Page 201 of 533 ends

positions, general fund expenditures, expenditures per capita, and FTE-to-resident ratio.

The survey, combined with the July 2025 Market Range Adjustment and prior pay and benefit enhancements, confirmed that Los Altos is positioned as an employer of choice. All represented employees are now at or above the 50th percentile of the market for base pay, with approximately 26% above that level. When viewed from a total compensation perspective, including both pay and benefits, the city is above the 50th percentile across all classifications, highlighting the strength of the City’s employee benefits.

The fourth year of the MOU (Fiscal Year 2025/2026) included a limited reopener for up to three items. On June 3, 2025, Teamsters submitted an initial proposal requesting additional base pay, enhanced educational certification pay, and a vacation cash-out provision. Following good faith negotiations, the City and Teamsters reached tentative agreement on modifications that address these requests while ensuring compensation remains competitive and fiscally sustainable for the long term.

ANALYSIS
The successor MOU with Teamsters Local 350 is for five years and replaces the original end date of June 30, 2027, to June 30, 2031. In exchange, the City and Teamsters reached agreement on a package of modifications that address the limited reopener items, clarify compensation provisions, and update contract language to remain compliant with CalPERS rules.

Key highlights include:
• Market range adjustments in multiple years to maintain competitiveness with peer cities. • Voluntary vacation cash-outs, including limited one-time opportunities to assist employees with high balances due to limited vacation use. These provisions require employees to maintain a minimum balance and are structured to comply with IRS constructive receipt rules.
• Certification and license pay updates, including enhanced Public Works Certification pay for successful completion of Maintenance Superintendents Association courses, and updated language to ensure CalPERS compliance.
• Probationary period extension from six to twelve months for newly hired employees. • Housekeeping updates to clarify effective dates of prior MOUs, refine language, and update health, dental, and vision rates.

A summary of key changes by fiscal year is provided in the table below:

Fiscal Year Items Proposed
Current Year
(FY 25/26) • Probation Extension from 6 months to 12
months for new hires
• MOU cleanup

Page 202 of 533 ends

Year 1
(FY 26/27) • Market Range Adjustments
o Enhance Public Works Certification
Pay
• ($40 for 2, $80 for 4, $160 for 6 classes per
pay period)
• One Time Tiered Voluntary Vacation
Cashout in July 2026
o 0 – 4 Years of Service = 40 Hours
o 5+ Years of Service = 80 Hours
• One Time Tiered Voluntary Vacation
Cashout in October 2026
o 10 – 15 Years of Service = 40
Hours
o 15+ Years of Service = 80 Hours
Year 2
(FY 27/28) • Effective the pay period including July 1, 2027, 3% Pay Increase based on April CPI
Year 3
(FY 28/29) • Effective the pay period including July 1, 2028, Market Range Adjustments
• Reopener for FY 29/30 (3 Items)
Year 4
(FY 29/30) • Effective the pay period including July 1, 2029, 2.5 - 3.5% Pay Increase based on
April CPI
• One Time 40-hour Voluntary Vacation
Cashout in June 2030
Year 5
(FY 30/31) • Effective the pay period including July 1, 2030, Market Range Adjustments

DISCUSSION

ATTACHMENTS

1. Attachment 1 - Resolution

2. Attachment 2 - Teamsters 2025-2031 MOU

Page 203 of 533 ends

Page 204 of 533 ends

Resolution No. 2025-XX
RESOLUTION NO. 2025-___

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LOS ALTOS TO

APPROVE A SUCCESSOR MEMORANDUM OF UNDERSTANDING

BETWEEN THE CITY OF LOS ALTOS AND SANITARY TRUCK DRIVERS AND HELPERS UNION LOCAL # 350.

WHEREAS, on July 12, 2022, City Council approved a five-year Memorandum of Understanding (“MOU”) between the City of Los Altos and the Sanitary Truck Drivers and Helpers Union Local #350 (“Teamsters”) dated July 1, 2022 – June 30, 2027; and WHEREAS, on July 9, 2024, City Council adopted Side Letter Agreement #1 with Teamsters to clarify how to treat a tie for the 6th Peer City under Article 7. PAY RATES AND PRACTICES; and
WHEREAS, representatives from the City and Teamsters met and conferred in good faith to replace the MOU in its entirety; and
WHEREAS, on October XX, 2025, Teamsters members completed voting and successfully ratified the terms of the successor MOU; and
WHEREAS, the parties signed the agreement on October XX, 2025; and NOW THEREFORE, BE IT RESOLVED, that the City Council of the City of Los Altos hereby:

1. Approves the Successor MOU with the Teamsters Association for the term of July 1, 2025 through June 30, 2031, attached to this resolution; and I HEREBY CERTIFY that the foregoing is a true and correct copy of a Resolution passed and adopted by the City Council of the City of Los Altos at a meeting thereof on the ___ day of ____, 2025 by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
___________________________
Attest: Pete Dailey, MAYOR
_____________________________
Melissa Thurman, CITY CLERK

Page 205 of 533 ends

MEMORANDUM OF UNDERSTANDING

BETWEEN

CITY OF LOS ALTOS
AND

SANITARY TRUCK DRIVERS AND HELPERS
UNION LOCAL 350
July 1, 2025 – June 30, 2031

Page 206 of 533 ends

i
Table of Contents
PREAMBLE.......................................................................................................................1 ARTICLE 1. RECOGNITION .....................................................................................2 ARTICLE 2. NO DISCRIMINATION.....................................................................2 ARTICLE 3. SECURITY PROVISIONS..................................................................2

3.1 Dues Deduction...................................................................................................2 ARTICLE 4. UNION RIGHTS.................................................................................4

4.1 Meet and Confer ..................................................................................................4

4.2 New Employee Notification...............................................................................4

4.3 Unit Member Contact Information....................................................................5

4.4 City Agreement Not to Disclose Personal Contact Information .....................5

4.5 City Communications to Unit Members Concerning Union Rights...............6

4.6 Bulletin Board......................................................................................................6

4.7 Access To Union Representatives......................................................................6

4.8 Steward .................................................................................................................7

4.9 Meeting Places.....................................................................................................7 ARTICLE 5. MANAGEMENT RIGHTS.................................................................7

5.1 Rights Retained ...................................................................................................7

5.2 Impact on Bargaining Unit.................................................................................7 ARTICLE 6. LAYOFF AND RECALL.....................................................................7

6.1 Definition of Layoff .............................................................................................7

6.2 Reason for Layoff.................................................................................................8

6.3 Notification of Layoff..........................................................................................8

6.4 Order of Layoff.....................................................................................................8

6.5 Seniority................................................................................................................8

6.6 Reassignment.......................................................................................................8

6.7 Reemployment Rights.........................................................................................8

6.8 Full Rights............................................................................................................9 ARTICLE 7. PAY RATES AND PRACTICES.........................................................9

7.1 Salaries..................................................................................................................9

7.2 Step Increases ....................................................................................................10

7.3 Flexibly Staffed Positions..................................................................................11

7.4 Mileage Reimbursement...................................................................................13

7.5 Promotion...........................................................................................................13

8.1 Work Schedule ...................................................................................................13

8.2 Ten Hours of Rest .............................................................................................13

8.3 Alternative Work Schedules ..............................................................................14

8.4 Alternative Work Schedule Options .................................................................14

8.5 Alternative Work Schedule Procedure .............................................................15

8.6 Meal Breaks........................................................................................................17

8.7 Rest Periods .......................................................................................................17

8.8 Overtime.............................................................................................................17

Page 207 of 533 ends

8.81 Compensatory Time Off ...................................................................................17

8.9 Clean-Up Time ..................................................................................................18

8.10 Standby Pay, Call-Out Pay................................................................................18

8.11 Weekend Work Program (WWP)......................................................................18 ARTICLE 9. UNIFORMS, BOOTS, TOOLS, LICENSES, CERTIFICATIONS 18 9.1 Uniforms.............................................................................................................18

9.2 Safety Boot Allowance.......................................................................................19

9.3 Safety/Rain Boot ...............................................................................................19

9.4 Appearance.........................................................................................................19

9.5 Licenses and Certificates ..................................................................................19 ARTICLE 10. HOLIDAYS.........................................................................................24

10.1 Scheduled Holidays...........................................................................................24

10.2 Floating Holiday................................................................................................25 ARTICLE 11. VACATIONS ......................................................................................25

11.1 Vacation Accrual................................................................................................25

11.2 Vacation Eligibility Requirements...................................................................25

11.3 Scheduling Vacations ........................................................................................26

11.4 Maximum Vacation Accumulation ..................................................................26

11.5 Holiday Falling During Vacation.....................................................................26

11.6 Illness During Vacation ....................................................................................26

11.7 Vacation Cash-Out At Separation ....................................................................26

11.8 Voluntary Vacation Cash-Out...........................................................................26 ARTICLE 12. LEAVE PROVISIONS.......................................................................27

12.1 Time Off to Vote................................................................................................27

12.2 Bereavement Leave ...........................................................................................28

12.3 Leave of Absence Without Pay .........................................................................28

12.4 Family Medical Leave .......................................................................................28 ARTICLE 13. WORKERS’ COMPENSATION INSURANCE.............................28

13.1 Industrial Temporary Disability.......................................................................28 ARTICLE 14. BENEFIT PROGRAMS....................................................................29

14.1 Long Term Disability Insurance......................................................................29

14.2 Tuition Reimbursement Program....................................................................29

14.3 Departmental Training Program......................................................................29

14.4 Health Insurance ...............................................................................................29

14.5 Cash In Lieu.......................................................................................................30

14.6 Flexible Benefits Plan .......................................................................................30

14.7 Dental and Vision..............................................................................................30

14.8 State of California Short Term Disability/SDI................................................31

14.9 Quality of Life Wellness Employee Reimbursement Program......................31

14.10 Retiree Health Savings Plan..........................................................................31 ARTICLE 15. RETIREMENT..................................................................................32

15.1 PERS Retirement and Employee Contributions.............................................32 ARTICLE 16. PHYSICAL EXAMINATIONS.........................................................32 ARTICLE 17. SAFETY...............................................................................................33

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iii

17.1 Health and Safety Provisions............................................................................33

17.2 City Safety Committees .....................................................................................33

17.3 Outstanding Safety Issues ................................................................................33 ARTICLE 18. GRIEVANCE PROCEDURE...........................................................33

18.1 Purpose...............................................................................................................33

18.2 Definition, Scope and Right to File .................................................................33

18.3 Step 1 – Informal Grievance Procedure............................................................34

18.4 Step 2 – Formal Grievance Procedure..............................................................35

18.5 Step 3 – Personnel Review ................................................................................35

18.6 Step 4 –Appeals Board.......................................................................................35

18.7 City Manager Review ........................................................................................37 ARTICLE 19. WORK STOPPAGE AND LOCKOUTS ..........................................37 ARTICLE 20. CONTRACTING OUT .....................................................................37 ARTICLE 21. MISCELLANEOUS...........................................................................37

22.1 Use of City Facilities for Private Purposes ......................................................37

22.2 Americans with Disabilities Act....................................................................37

22.3 Personnel Regulations...................................................................................38

22.4 Probationary Appointments ..........................................................................38 ARTICLE 22. AUTHORIZED AGENTS ................................................................38 ARTICLE 23. SAVINGS CLAUSE............................................................................38 ARTICLE 24. TERM..................................................................................................39 APPENDIX A ..................................................................................................................40 APPENDIX B ..................................................................................................................41

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1 MEMORANDUM OF UNDERSTANDING

BETWEEN

CITY OF LOS ALTOS
AND

SANITARY TRUCK DRIVERS AND HELPERS
UNION LOCAL 350
July 1, 2025 – June 30, 2031

PREAMBLE
This Memorandum of Understanding is entered into by the City of Los Altos (hereinafter referred to as the City) and by SANITARY TRUCK DRIVERS AND HELPERS TEAMSTERS UNION LOCAL 350 (hereinafter referred to as the UNION) as a result of meeting and conferring in good faith regarding matters related to wages, hours and/or other items and conditions of employment between the employees represented by the Union and the City pursuant and subject to Sections 3500-3510 of the Government Code of the State of California. Employee, for the purposes of this Memorandum of Understanding shall mean an employee appointed to a classification within the Teamsters unit.

This Agreement is to set out those items on which the City and Union have reached Agreement, so that these items will not have to be renegotiated during the term of the contract.

The term of this Agreement is from July 1, 2025 to June 30, 2031, having been ratified by the Teamsters on XX/XX/2025 approved and accepted by the City Council on XX/XX/2025.

Either party can re-open a portion or portions of this contract, as defined below, for negotiations through a limited re-opener for the sole purpose of discussing and considering three items of this contract in the fiscal year 2029-2030. During the initial three-year term, the contract may also be reopened through mutual consent of the union and the City Manager.

An “item” for the purpose of the said limited re-opener shall be limited to single term/condition or benefit, e.g. Class B License Pay; and shall not mean an entire article of the Memorandum of Understanding, e.g. Article 9.5 – Licenses and Certificates. A request to reopen contract negotiations for this limited purpose must be issued in writing the dates listed below by the requesting party. The written request must be submitted between the following dates:
• March 31, 2028 and May 15, 2028 for the fiscal year 2029-2030 reopening Upon receipt of such timely written request, the parties agree to meet and confer in good faith; however, the Union understands and agrees that no right to any additional benefit, including

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2 but not limited to, cost of living or health and welfare benefit increase, is conferred by this Agreement or any limited re-opener negotiations.

ARTICLE 1. RECOGNITION
Pursuant to City policies and procedures and Section 3500-3510 of the government Code of the State of California, the City recognizes the Union as the exclusive representative of a representation unit consisting of all full-time employees in the classifications listed in Appendix A attached. This unit shall, for purposes of identification, be entitled the Teamster Unit.

ARTICLE 2. NO DISCRIMINATION
The City and Union agree that no person covered by this agreement hereto shall be discriminated against because of race, religious creed, political affiliation, color, national origin, ancestry, union activity, disability, marital status, sex, age, or sexual orientation, unless such factor is a bona fide occupational qualification or such action is required to comply with Federal or State law.

ARTICLE 3. SECURITY PROVISIONS

3.1 Dues Deduction
Payroll deductions for membership dues shall be granted by the City to the Union. The following procedures shall be observed in the withholding of employee earnings:
(a) Payroll deductions shall be for an amount set by the Union, and shall not include fines. The Union may change the fixed uniform dollar amount by giving the City thirty (30) days notice of any such change. Dues deductions shall be made upon notice from the Union of an employee’s desire for dues deduction.
(b) Authorization, cancellation or modification of payroll deduction shall be made upon written request and confirmation in writing from the Union. The City shall direct unit members to the Union if they so request to cancel or change dues deductions. Dues deductions may be revoked only by certification from the Union pursuant to the terms of the unit member’s written authorization.

The voluntary payroll deduction authorization shall remain in effect until employment with the City is terminated or until written notice to cancel or modify the deduction is received by the City from the Union. Unit members may authorize dues deductions only for the organization certified as the recognized employee organization of the unit to which such unit members are assigned.
(c) Amounts deducted and withheld by the City shall be transmitted to the Union, at the address specified.

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3 (d) When an employee is in a non-pay status for an entire pay period (currently two weeks), no withholding will be made to cover that pay period from future earnings nor will the employee deposit the amount with the City which would have been withheld if the employee had been in pay status during that pay period. In the case of an employee who is in a non-pay status during a part of the pay period, and the salary is not sufficient to cover the full withholding no deduction shall be made. In this connection, all required deductions have priority over the Union dues deduction.
(e) The Union shall refund to the City an amount paid to it in error upon presentation of supporting evidence.
(f) The Union shall indemnify defend and hold harmless the City and its officials, representatives and agents against any and all claims, demands, suits or other forms of liability (monetary or otherwise) and for all reasonable legal costs that shall arise out of or by reason of action taken or not taken by the City in complying with the provisions of this Article. The Union’s indemnity and liability obligation is more fully set forth as follows:

1. The Union shall defend, indemnify and hold harmless the City and its officers and employees from any claim, loss, liability, cause of action or administrative proceeding arising out of the operation of this Article.

Upon commencement of such legal action, administrative proceeding, or claim, the Union shall have the right to decide and determine whether any claim, administrative proceeding, liability, suit or judgment made or brought against the City or its officers and employees because of any application of this Article shall or shall not be compromised, resisted, defended, tried or appealed. Any such decision on the part of the Union shall not diminish the Union’s defense and indemnification obligations under this Agreement.

2. The City, immediately upon receipt of notice of such claim, proceeding or legal action shall inform the Union of such action, provide the Union with all information, documents, and assistance necessary for the Union’s defense or settlement of such action and fully cooperate with the Union in providing all necessary employee witnesses and assistance necessary for such defense.

3. The Union, upon its compromise or settlement of such action or matter shall timely pay the parties to such action all such sums due under such settlement or compromise. The Union, upon final order and judgment of a Court of competent jurisdiction awarding damages or costs to any employee, shall pay all sums owing under such order and judgment. (g) It is specifically agreed that any dispute between the City and the Union concerning the amount of the uniform dues deduction and/or the responsibilities of the Union with respect to these matters shall be resolved in accordance with the grievance procedures set forth in this MOU. The Union

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4 hereby expressly waives any right to file an unfair labor practice charge with the Public Employment Relations Board regarding any dispute between the City and the Union arising under this Article 3.

ARTICLE 4. UNION RIGHTS

4.1 Meet and Confer
The Union will be notified and given the opportunity to meet and confer prior to changes in terms and conditions of employment which are within the scope of representation as defined by the Meyers Milias Brown Act. The City retains the right to act on matters within the scope of representation after discharging all of its obligation under the Meyers Milias Brown Act.

4.2 New Employee Notification
When an employee is hired in any of the covered job classifications, the City shall notify the employee that the Union is the exclusive recognized bargaining representative for that classification in said unit and shall inform the employee of his/her right to join and participate in activities of the Union. (a) The City will provide a written statement to each new employee hired into a classification in the bargaining unit represented by the Union, that the employee’s classification is represented by the Union and the name of a representative of the Union. The City will provide the employee with a packet of information that has been supplied by the Union and a membership application form.
(b) The City will notify the union, in writing, no less than ten (10) business days in advance of any new employee orientation (same as first day of work at the City) who joins the bargaining unit whether by hire, transfer or otherwise specified. Email notification to the Union will suffice. The ten (10) business day advance notice for new employee orientation may be shortened only when there is an urgent need critical to the employer’s operations that was not reasonably foreseeable (e.g. the employee’s first day of work in the bargaining unit position is less than ten (10) business days after the hiring decision) in which case the City shall provide as much advanced notice as practicable and must provide the Union the rationale for the exception in writing. (c) The new employee orientation notice provided to the Union will include the date, time and location of the orientation. The City agrees that it will not disclose the date, time, or place of any such new employee orientation(s) to anyone other than the employees who are to attend the orientation, the Union, or a vendor that is contracted to provide a service for purposes of orientation. (d) The City shall allow two (2) bargaining unit representatives designated by the Union to meet with the new employee(s) during new employee orientation. It is anticipated that this meeting would require approximately thirty (30) minutes in order to provide information about the MOU and related matters.

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5 Management representatives will excuse themselves during the Union portion of the orientation.
(e) Bargaining unit members attending orientation as the Union representative shall be given paid release time sufficient to cover the Union’s presentation and travel time. On the rare occasion that the bargaining unit representatives are not available to attend a new employee orientation, the Union will provide the names of two alternative unit members who they wish to be released at least forty-eight (48) hours in advance to Human Resources Manager or designee.

4.3 Unit Member Contact Information
The City will provide the Union or designee, by email, an excel spreadsheet listing the names and contact information (listed below) of any newly hired employee within thirty (30) days of the date of hire or by the first pay period of the month following the employee joining the bargaining unit, whichever is sooner. The City will also provide cellular phone numbers and personal email addresses if on file with the City.

The contact information the City will provide is as follows:
(a) Employee name
(b) Job title
(c) Department
(d) Work location
(e) Work phone number
(f) Home phone number
(g) Home address
The City will provide the same information to the Union in the same format for all employees in the classifications covered by the MOU every one hundred and twenty (120) calendar days, which will be established as every September, January and May.

Contact information updates provided to the City since the last Employee Data Sheet was sent will be reflected in the next scheduled update.

4.4 City Agreement Not to Disclose Personal Contact Information The City agrees that personal contact information of unit members (e.g. home address, personal phone number, personal email address) is private information not to be disclosed except in the manner authorized by law to any third party other than the Union. The City further agrees to give the Union reasonably immediate notice of any such requests from a third party prior to releasing such information to the requesting party.

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6 Upon written request of any employee, the City shall not disclose an employee’s home address, home telephone number, personal cellular telephone number, personal email address or birth date to the Union.

4.5 City Communications to Unit Members Concerning Union Rights If the City chooses to disseminate a communication to unit members or applicants to be unit members concerning public employees’ rights to join or support an employee organization, or to refrain from joining or supporting an employee organization, the City shall meet and confer with the Union concerning the content of the communication before dissemination.

If the City and the Union cannot reach agreement and the City elects to proceed with its proposed mass communication, the City must also distribute, at the City’s expense and in the same format and manner of delivery as utilized for the City’s communication, a communication of reasonable length provided by the Union.

The City will remain neutral in all communications to unit members about whether to join or support the Union and will not discourage or deter Union membership or support.

4.6 Bulletin Board
The City shall provide the Union with a dedicated bulletin board at a location in the MSC hallway to be agreed upon by both Parties. The board shall be used for the following subjects:
(a) Information on Union elections, reports and notices; (b) Reports of official business of the Union; and
(c) Scheduled membership benefits, programs and promotions; The bulletin board shall not contain any derogatory, defamatory, or inflammatory statements concerning the City or City personnel, nor any material that would impair City operations. Prior to posting of any material on the designated bulletin board, the Union shall provide one (1) copy of the material to the Department Head or designee.

4.7 Access To Union Representatives
Membership meetings, organizing activities, membership campaigns, or dues collecting by Union or their representative on City premises or at work locations/sites during regular hours of work shall not be permitted.

Representative of the Union shall be granted reasonable access to employee work locations/sites to investigate matters relating to employer-employee relations, unless such access to given work locations/sites would constitute a safety hazard or would interfere with the operations of the City. Access to work locations/sites shall be regulated by the City so as not to constitute a safety hazard or to interfere with operations of the City. Representatives of the Union shall not enter a work location/site without advance notification to the Assistant to the City Manager/Personnel Director or his/her duly authorized representative.

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7 4.8 Steward
The Union shall have the right to certify one (1) steward to represent other employees in disciplinary or grievance matters. The Steward may have one (1) alternate steward whose sole purpose shall be to serve in the absence of the steward.

The Union shall notify the City in writing of the name of the steward. Stewards shall conduct their representation activities on their own time and on the employee’s own time, unless prior approval has been received from the appropriate supervisor, or manager in order to leave the job site. Time off without loss of compensation shall be allowed for management approved meetings.

4.9 Meeting Places
The Union shall have the same right as any other private organization to reserve City meeting rooms and facilities during non-working hours. Use of such meeting rooms and facilities shall be subject to established city policies and procedures for rental of such facilities.

ARTICLE 5. MANAGEMENT RIGHTS

5.1 Rights Retained
The City reserves all rights with respect to matters of general legislative, managerial and financial policy including, among others: the exclusive right to determine the mission of its constituent departments, commissions and boards; set standards and the levels of service; determine the procedure and standards of selection for employment; direct and schedule its employees; establish and enforce performance standards; take disciplinary action; relieve its employees of duties because of lack of work or for other legitimate reasons; maintain the efficiency of government operations; determine the methods, means and personnel by which governmental operations are to be conducted; require overtime; take all necessary actions to carry out its mission in emergencies; and exercise complete control and discretion over its organization and technology of performing its work. These rights shall be limited only as specified in the Agreement.

Nothing in this Article shall be construed to limit, amend, decrease, revoke or otherwise modify the rights vested in the City by and law regulating, authorizing or empowering the City to act or refrain from acting.

5.2 Impact on Bargaining Unit
The exercise of such rights shall not preclude the Union from meeting and conferring with City representatives about the impact that decisions on these matters may have on wages, benefits, and other terms and conditions of employment.

ARTICLE 6. LAYOFF AND RECALL

6.1 Definition of Layoff
Layoff means the elimination of an employee’s classification or position.

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8 6.2 Reason for Layoff
The City in its discretion shall determine whether layoffs are necessary unless it is clearly established that such a determination is arbitrary. Although not limited to the following, layoffs shall ordinarily be for lack of work, material change in duties or organization, and/or lack of funds.

6.3 Notification of Layoff
Employees laid off due to the above reasons will be given written notice, either by certified mail or hand delivery, at least thirty (30) calendar days before the effective date of the layoff. A copy of such notice will be given to the Union.

6.4 Order of Layoff
If it is determined that layoffs are necessary, the City will not keep temporary employees in classifications otherwise represented by this unit performing bargaining unit work. If necessary, bargaining unit members will be laid off in the following order:
(a) Probationary employees;
(b) In the event of further reductions in force, employees will be laid off from the affected classification in accordance with their seniority, as defined in this section;
(c) In the event of a tie in seniority, as defined in this section, employees will be laid off from the affected classifications in accordance with their ability to perform the remaining work available without further training, to be determined by the Department Head.

6.5 Seniority
For purposes of this section, Seniority means an employee’s length of continuous fulltime service for the City since his / her last date of hire, less any approved leaves of absence greater than thirty (30) days, unless otherwise required by law.

6.6 Reassignment
In lieu of layoff, the City may at its discretion (after consulting with the department head concerned) offer the employee(s) whose position is subject to elimination, the opportunity to transfer to a current vacant position.

6.7 Reemployment Rights
Employees who are laid off and whose last performance review was satisfactory or better shall be placed on a recall list for a period of one (1) year. An employee’s name will remain on the list for one (1) year, or until he/she is offered an equal or comparable position in the laid off class, whichever comes first. If there is a recall, employees who are still on the recall list shall be recalled, in the inverse order of their layoff, provided he/she is presently qualified to perform the work in the job classification to which he/she is recalled without further training.

If an employee is recalled to a position in a lower rated job classification, he/she shall have the right to return to the job classification he/she held prior to being laid off in

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9 the event it subsequently becomes available. If an employee is recalled to a lower rated job classification, the employee shall have the right to refuse the recall. The City shall not hire new employees in bargaining unit positions so long as there are still employees on the recall list who are presently qualified to perform the work in the affected job classification and are willing to be recalled to said classification. (a) Employees, who accepted demotions in lieu of layoff, will be granted the same reemployment right as laid off employees.
(b) Employees on reemployment lists shall have the right to apply for promotional positions.
(c) Employees on reemployment lists eligible for recall shall be given written notice of recall. The notice may be hand-delivered or sent by certified mail or registered mail with a copy to the Union, provided that the employee must notify the City of his/her intention to return within three (3) days after receiving notice of recall. The City shall be deemed to have fulfilled its obligations by mailing the recall notice by registered mail, return receipt requested, to the mailing address provided by the employee, it being the obligation and responsibility of the employee to provide the City with his/her latest mailing address.

6.8 Full Rights
Employees who are laid off and are subsequently rehired within the one (1) year reemployment period will have their vacation accrual rate, and accumulated sick leave balance restored to the level they were at upon separation.

ARTICLE 7. PAY RATES AND PRACTICES

7.1 Salaries
Effective the pay period that included July 1 of each fiscal year that this agreement covers, represented classifications base salary will be adjusted as follows:

1. 7/1/25 Market Range Adjustments (salary adjustment applied to classification)

2. 7/1/26 Market Range Adjustments (salary adjustment applied to classification)

3. 7/1/27 3% across all represented classifications

4. 7/1/28 Market Range Adjustments (salary adjustment applied to classification)

5. 7/1/29 CPI Adjustments (Minimum of 2.5%, Maximum of 3.5%)

6. 7/1/30 Market Range Adjustments (salary adjustment applied to classification) The percentage increase above of 2.5% to 3.5 percent for the 7/1/29 adjustments shall be referred to hereinafter as "minimum/maximum”. The percentage increases above shall be based on the wage rate then in effect. For example, if the Index for 2029 as described below is 2.0%, the wage increase applied to the July 1, 2029, classification schedule shall be of 2.5%. CPI adjustment shall be based on April 12-month Consumer Price Index for the San Francisco Bay Area set by the U.S. Bureau of Labor Statistics for the respective year.

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10 Market Adjustment
Market adjustment shall be determined by taking the 50th percentile of the maximum annual pay rate of the peer cities equivalent classification. This calculated annual pay rate amount will be a % above or below the current maximum annual pay rate for the City of Los Altos’ represented classification. If the City of Los Altos represented classification is below market, the classification will be adjusted by the calculated percentage necessary to bring the pay rate to the 50th percent of the market.

Market Range Adjustment
Similar to the above “Market Adjustment”, except the percentage increase necessary to bring the pay rate to the 50th percent of the market shall not be automatically adjusted for the incumbent in the represented classification effective the pay period that includes July 1. Instead, the range for the classification shall be increased based on the 50th percentile of the maximum annual pay rate of the peer cities equivalent classification, The incumbent of the represented classification shall be eligible for a step increase based on merit, up to the new maximum for the classification, on their annual review date.

Peer Cities
The peer cities used for the determination of market adjustments shall be based on likeness to the City of Los Altos using the following factors (Population, number of Full-Time Equivalent positions, agency expenditures, expenditures per capita, and geographic proximity). On each comparable factory, a rank of 1, 0.5, or 0 shall be assigned (1 being line, 0 being unlike). The top 6 peer cities shall be used for market adjustments. If two or more cities receive the same likeness score and there is a tie, for determination of the top 6 peer cities, the city with the higher paying comparable classification shall be used for determining market adjustments. If a peer city lacks a comparable classification, the next peer city with a comparable classification will be used.

Effective March 1, 2023, and every MOU year thereafter, the Union shall be provided with the list of the Peer Cities included in the comparable survey. List shall include the “likeness factors” described above.

Salaries for all represented classifications for year 2025-2026 are listed in Appendix A.

7.2 Step Increases
Pay increases within the established pay range shall not be automatic, but shall depend upon increased service value of an employee to the City as shown by recommendations of the supervisor, performance, and length of service, special training taken, or other pertinent evidence.

The A (first) Step is the minimum rate and should normally be the hiring rate for the classification. The City Manager or designee may hire above this step in case of an unusually well qualified person or in a tight labor market, or when such action in his/her opinion clearly appears to be in the best interests of the City.

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11 The B (second) Step is an incentive adjustment to encourage an employee to improve his/her work. An employee shall be eligible for consideration of a merit increase to the B (second) Step after six (6) months of continuous service. Such merit increase shall be given only if recommended by the department head and approved by the City Manager or designee. Normally, an employee whose performance does not justify a merit increase to the B (second) Step should be released.

The C (third) Step is the rate at which an employee should be paid after satisfactory performance in a given classification with not less than one (1) years’ service at the B (second) Step.

A merit increase to the C (third) Step shall be granted only upon recommendation of the department head and approval of the City Manager or designee.

The D (fourth) Step should be granted only after the employee has served a minimum of one (1) year at the C (third) step and upon recommendation of the department head that the employee’s work is fully satisfactory and upon approval of the City Manager or designee.

The E (fifth) Step is the rate for a fully qualified and experienced employee. An employee should be eligible for consideration for adjustment to this step only after serving a minimum of one (1) year at the D (fourth) Step and upon recommendation of the department head and the approval of the City Manager or designee.

The E (fifth) Step shall be considered maximum pay for competent performance of all the duties accruing to the individual position by an experienced and qualified employee.

7.3 Flexibly Staffed Positions
Certain positions in the Association will be flexibly staffed to promote qualified incumbents from lower classifications to higher classifications without conducting a competitive recruitment process. Flexibly staffed positions also provide managers the flexibility to make appointments at either the lower or higher classification, depending on the need s of the department and the candidates’ qualifications.

The flexibly staffed Association positions are as follows:
• Maintenance Worker I/II
• Equipment Mechanic I/II

1. Flexibly Staffed Promotion Criteria for Maintenance Worker I/II and Wastewater Maintenance Worker I/II
To be eligible for promotion from a Maintenance Worker I to a Maintenance Worker II or Wastewater Maintenance Worker I to a Wastewater Maintenance Worker II, regardless of openings in the classification, the incumbent MWI must meet the established criteria for advancement:
(a) Passed probation

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12 (b) Worked for the City for two continuous years in the MWI classification with satisfactory annual performance evaluations
(c) Obtains a Class B California Driver’s License**
(d) Obtain at least one of the following:
➢ Qualified Applicator Certification
➢ CWEA Grade 1
➢ Maintenance Superintendents Association - Public Works Technician Employees who satisfy the criteria will be promoted upon recommendation of the Department Head, regardless of the number of existing Maintenance Worker II or Wastewater Maintenance Worker II positions. **Substitution from obtaining a Commercial Driver’s License requirement may be possible, however criteria for a suitable substitution, are at the discretion of the Department Head, or City Manager dependent of the Employee’s classification and customary job duties.

2. Flexibly Staffed Promotion Criteria for Equipment Mechanic I/II To be eligible for promotion from a Equipment Mechanic I to Equipment Mechanic II the incumbent Equipment Mechanic I must meet the established criteria for advancement:

1. Have successfully passed probation

2. Demonstrate sufficient experience in the Equipment Mechanic I classification, generally equivalent to two years of continuous service as a mechanic with satisfactory annual performance evaluations

3. Obtain at least four certifications from the following test series:
➢ A.S.E. Automobile & Light Truck Certification Tests (A1 – A9) ➢ A.S.E. Auto Maintenance and Light Repair Certification Test (G1) ➢ A.S.E. Light Duty Hybrid/Electric Vehicle Specialist Certification (L3)
➢ A.S.E. Medium-Heavy Truck Certification (T1-T8)
Employees who satisfy the criteria will be promoted upon recommendation of the Department Head, regardless of the number of existing Equipment Mechanic II positions.

3. Flexibly Staffed Promotion Probationary Period
Employees who move from a lower classification into a higher classification within a flexibly staffed classification will be on promotional probation for six (6) months. The promotional probationary period may be extended an additional six (6) months at the discretion of the Human Resources Manager or designee. An employee rejected during the probationary period from the higher classification will be reinstated to his or her previous lower classification

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13 unless the employee is dismissed for cause. After completion of probation, an employee must maintain the certification that served as the prerequisite to moving to the MWII classification and must satisfy all other requirements of the MWII classification.

4. Flexibly Staffed Promotion Pay Rate
Employees who move from a lower classification into a higher classification within a flexibly staffed classification will be placed at Step A of the higher classification or the step immediately above their current step, whichever is greater.

5. Flexibly Staffed Promotion Effective Date
Flexibly staffed promotions shall begin on the first full pay period after the employee has submitted documentation to the department head or designee that shows the requisite criteria has been attained. Each employee is singularly responsible for submitting all documentation to qualify for a Flexibly Staffed Promotion

7.4 Mileage Reimbursement
Employees required to travel on City business shall either be provided with a City vehicle or reimbursed for transportation expenses. City business does not include travel from home to work.

Employees required to use their private automobiles for City related business shall be reimbursed for all such authorized travel at the current IRS rate. Employees using their private vehicles must maintain appropriate automobile insurance coverage.

7.5 Promotion
“Promotion” is the appointment of an employee to a position in another classification with a higher top step base salary. An employee shall receive a minimum five percent (5%) increase to their base salary when they are promoted; however, in no case shall the promotional increase exceed the top step of the higher-paid classification.

ARTICLE 8. HOURS OF WORK, OVERTIME,

STANDBY/CALL-OUT PAY

8.1 Work Schedule
Employees shall be assigned to regularly-scheduled work shifts with standard daily start and stop times. Should it be necessary, in the interest of efficient operations, or due to a special event or circumstances to temporarily modify an employee’s regular work schedule, the City shall give at least five (5) working days notice of such change to the affected employee(s). The City will notify the Union prior to implementing any permanent work schedule change no less than thirty (30) calendar days prior to the proposed change. Nothing herein shall prohibit the City from adjusting an employee’s work hours or days. Work schedules shall not be unjustly changed.

8.2 Ten Hours of Rest

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14 Consecutive Shifts / Ten Hour Rest Period: An employee who works their entire shift or longer will receive no less than ten (10) hours of time off before returning to duty or other required work assignments (required on-call emergency response, training, etc.). In no event shall an employee be required to work more than sixteen (16) consecutive hours. In the event the ten (10) hour rest period between shifts includes time that the employee would normally be scheduled to work, the Employee may use any compensated time off available (vacation, floating holiday, comp time or noncompensated time off) to cover for said period. However, an employee will return to work to complete his/her normal shift if there is any time remaining on his/her shift after the ten (10) hour rest period is completed. These provisions do not apply to special events or voluntary training. The ten (10) hour rest period requirement can be waived if mutually agreed to by the employee and the employee’s supervisor.

Exceptions to the above are:
a. Unforeseen emergency situations such as; natural disasters or other extraordinary events. Backfilling for sick calls or common staffing issues do not constitute an emergency for the purposes of this section. b. It is understood that special work assignments can be exempt from these provisions and will occasionally require employees assigned to those assignments to work beyond sixteen (16) hours or to require employees to return to duty prior to the ten (10) hour rest period. However, when practical, the Supervisor of the employee will make every effort to comply with the provisions above.

Employees should notify their supervisors as soon as practical to ensure that proper staffing is maintained.

8.3 Alternative Work Schedules
Upon written request by an employee, the Department Head or designee and the employee’s immediate supervisor/manager shall consider allowing the employee to work an alternative work schedule. This schedule will only be approved if it maintains established levels of service and is transparent to the public. In addition, this scheduling will be subject to the conditions, limitations and procedures outlined in the City’s Administrative Policies.

Work schedules have been and will continue to be determined by the Department Head based upon the need to provide service to the public. These schedules will continue to be administered by the Department Head. The Department Head or designee will work with the employee’s immediate supervisor / manager and the employee to determine the appropriate alternative work schedule and break time(s).

8.4 Alternative Work Schedule Options

6. 4/10 Work Schedule
A 4/10 work schedule consists of four (4) workdays of ten (10) hours within a seven (7) day work week. For this schedule, the workweek begins Sunday at 12:00 AM and ends Saturday at 11:59 PM.

7. 9/80 Work Schedule

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15 A 9/80 is a work schedule of eighty (80) work hours, scheduled over the course of nine (9) workdays during a single biweekly pay period. The typical 9/80 schedule consists of eight (8) work days of nine (9)-hours, Monday through Thursday of each week, with one eight (8)-hour day on one of the Fridays. For this schedule, the workweek shall begin exactly four (4) hours after the start time of the day of the week that the employee’s eight (8) hour work day is scheduled.

8. Defined 9/80 Work Schedule
Employees whose primary work location is MSC will be scheduled to work a Defined 9/80 Work Schedule consisting of eight (8) work days of nine (9) hours, Monday through Thursday of each week, and one (1) defined Friday of eight (8) hours. The non-working Friday will be the day that City Hall and MSC are closed to staff and the public. The Fridays that these locations will be closed shall be posted annually on the City’s website calendar. Employees at MSC may work a 4/10 Work Schedule, with department head approval, so long as their four workdays align with the days that City Offices will be open under the Defined 9/80 Schedule.

8.5 Alternative Work Schedule Procedure
(a) An employee scheduled to work an alternative work schedule or an employee requesting to work an alternative work schedule shall submit an “Alternative Work Schedule Form” to his or her immediate supervisor and to the Department Head for approval. Human Resources must receive a copy of the approved form.
(b) Upon receipt of an employee’s written request to work an alternative schedule, the Department Head will work with the employee’s immediate supervisor/manager to determine whether the department can approve the employee’s alternative work request.

1. In determining whether the department can approve the request, the department shall first consider its obligation to the public.

2. If the department head determines that the alternative work schedule will not cause harm to the public service, he or she shall next consider whether the department can adequately manage the requested alternative schedule.

3. Finally, the Department Head will consider and allow the requested alternative schedules as long as it does not diminish the quality of the employee’s work, the availability of City services, or result in increased costs.
(c) In certain circumstances, and depending on workload and department initiatives, the department head or designee may take the employee off their alternative work schedule unless an employee’s labor agreement specifies otherwise. This may occur due to public service needs, the department’s ability

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16 to manage the employee, the employee’s performance or productivity, or for any other lawful reasons. In such instances, the department head or designee will make an effort to notify the employee ahead of time of any scheduling change.
(d) Employees working an alternative work schedule cannot move their regular day off or “flex” or adjust work hours forward or backward on the alternating regular work day without written approval by their supervisor. (e) Starting and ending times for the work day for an employee working an alternative work schedule continue to be subject to approval by the employee’s supervisor / manager. The supervisor / manager may adjust the employee’s start and end times from time to time, as necessary to provide adequate staffing and coverage.
(f) Integration with holidays and paid leave:

1. When a holiday falls on an employee’s regularly scheduled ten (10) hour work day, the employee shall receive ten (10) hours of paid holiday. When a holiday falls on an employee’s regularly scheduled nine (9) hour work day, the employee shall receive nine (9) hours of paid holiday. When a holiday falls on an employee’s regularly scheduled eight (8) hours work day, the employee shall receive eight (8) hours of paid holiday.

2. When an observed holiday falls on an employee’s regularly scheduled day off, the employee will observe the holiday the preceding/following day and receive holiday pay in accordance with their regularly scheduled shift for that day.

3. If the Thursday before the scenario in section (f)2 above is also a holiday, the employee shall observe the holiday the
preceding/following day and receive holiday pay in accordance with the employee’s regularly scheduled hours for those days. (For example, if a non-working Friday falls on the day after Thanksgiving, employees would maintain their non-working Friday and receive nine (9) hours of holiday pay on Wednesday and Thursday instead of receiving holiday pay on Thursday and Friday).

Employees who take a full day off on a ten (10) hour workday will be charged ten (10) hours of leave. Employees who take a full day off on a nine (9) hour workday will be charged nine (9) hours of leave.

Employees who take a full day off on an eight (8) hour workday will be charged eight (8) hours of leave.

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17 4. Holiday Premium Pay: Holiday compensation during Thanksgiving, Christmas, and New Year’s Day shall be compensated at two (2) times the employee’s straight time rate for a maximum of three (3) hours.

8.6 Meal Breaks
Employees scheduled to work eight (8) hour shifts shall be entitled to a thirty minute unpaid meal period per shift. Employees scheduled to work nine (9) or ten (10) hour shifts shall be entitled to either a thirty (30) minute or one (1) hour unpaid meal period per shift, subject to supervisor approval. Whenever possible, the meal period shall be scheduled at the middle of each shift.

Employees are entirely relieved of responsibilities and restrictions during their meal period, unless they are assigned to work an on-duty meal period, which will be treated as paid time.

8.7 Rest Periods
All employees shall be granted a rest period limited to fifteen (15) minutes during each four (4) hours of work. Rest periods not taken shall be waived. The morning rest period shall be granted near the middle of each four hour-shift whenever this is feasible. The afternoon rest period may be combined with the thirty (30) minute meal break.

8.8 Overtime
Any time worked beyond the employee’s regularly scheduled work hours is considered overtime. Paid time off due to sick leave, holidays, vacation or other paid leave is included as “time worked” for overtime purposes.

Employees working overtime shall be paid at one and one-half (1 ½) times their hourly straight time rate. Employees must receive prior authorization to work overtime.

Employees required to work on Thanksgiving, Christmas, and New Year’s Day will be paid the holiday hours for their regularly scheduled shift, the first three (3) hours of mandatory overtime at two (2) times their hourly straight time rate, and any additional time at one and one half (1 ½) times their hourly straight time rate.

8.81 Compensatory Time Off
In lieu of overtime pay in cash, an employee may request to accrue compensatory time off, which will accrue at the rate of one and one-half (1 ½) times each overtime hour worked, subject to a maximum accrual of one hundred and forty (140) hours. The Department Head or designee has sole discretion to grant the request for comp time.

Voluntary Cash-Out of CTO: Annually, no later than December 15th, employees may submit an irrevocable election to cash out up to one hundred and forty (140) hours of accrued compensatory time off. Payment for cashed-out hours shall be made on the first pay date in December of the following year.

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18 Mandatory Cash-Out: All accrued compensatory time hours above one hundred (100) hours will be cashed out and payment for these hours will be made on the first pay date in December and shall be in a separate check.

Use of Compensatory Time Off: An employee wishing to use his / her accrued compensatory time off shall provide his / her Department Head with reasonable notice of such request. Reasonable notice is defined as at least ten (10) calendar days.

If reasonable notice is provided, the employee’s request may not be denied unless it is unduly disruptive to the department. A request to use compensatory time off without reasonable notice may still be granted within the discretion of the Department Head or designee responsible for considering the request.

8.9 Clean-Up Time
All employees whose work causes their person or clothing to become soiled shall be provided with reasonable time not to exceed ten (10) minutes for clean-up period prior to the end of each work shift.

8.10 Standby Pay, Call-Out Pay
(a) Standby Compensation: The City will pay five dollars and forty two cents ($5.42) per standby hour, not to exceed one hundred and thirty dollars ($130) for each twenty-four (24) hours on standby.
(b) Minimum Call-Out Pay: Call back compensation shall be a minimum of three (3) hours at time and a half (1 ½) the employee’s straight time rate. (c) Call Out Pay (Between 9 PM – 5 AM): Call backs between the hours of 9:00 p.m. and 5:00 a.m. will be compensated at a minimum of six (6) hours at time and a half (1 ½) the employee’s straight time rate.

8.11 Weekend Work Program (WWP)
Employees assigned to the WWP shall be compensated at time and a half (1 ½) the employee’s straight time rate.

ARTICLE 9. UNIFORMS, BOOTS, TOOLS, LICENSES,

CERTIFICATIONS

9.1 Uniforms
The uniform items specified in this section are not to be used other than working for the City or while traveling to and from work. Uniforms will be ordered to arrive prior to September 30, if possible. The City shall provide uniforms as follows:
(a) Five (5) brown Carhartt type work pants, five (5) button down long sleeve or short sleeve shirts, five (5) t-shirts, per year;
(b) A monthly cleaning allowance of thirty ($30.00) dollars; and

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19 (c) One (1) winter jacket, one (1) hooded sweat shirt, one (1) baseball type cap and one (1)sun hat, to be replaced on an as needed basis.

9.2 Safety Boot Allowance
The City shall provide each employee with two (2) new pairs of safety boots / shoes per fiscal year, up to a maximum total cost to the City of four hundred and fifty dollars ($450) per fiscal year per employee. All authorized safety boots/shoes will be steel toed and consistent with the typical duties and needs of the employee. Employees are required to wear these safety boots/shoes when performing their City duties.

Employees may use the remaining balance of the safety boot allowance to purchase insoles, laces, reconditioning of leather or to complete repairs made to the safety boot (Resole/recorking/welting/stitching, etc.).

If, prior to the annual purchase of new safety boots / shoes, an employee’s safety boots / shoes become unusable due to wear or damage at work, the employee must present the boots/ shoes to the Department Head who will authorize and approve a replacement pair, cost to the City not to exceed $200 per pair.

9.3 Safety/Rain Boot
The City shall provide employees with a high quality (not steel toed) safety wet weather boot. The boot shall be stored in the employee’s locker and kept available when necessary. This boot will be replaced upon presentation to the appropriate supervisor that it is unusable due to wear or damage at work. This boot shall remain the property of the City.

9.4 Appearance
Employees shall be responsible for ensuring that uniforms are maintained and work in a neat and professional manner. Supervisors shall be responsible for ensuring that employees maintain a proper appearance and take appropriate actions as required.

9.5 Licenses and Certificates
The Department Director or designee shall determine which positions are eligible to receive Licenses and Certification Pay, as well as total number of certifications for operations.
(a) Government Agency Required Class B License Pay
Employees who are required to maintain a Class B License because their job duties require them to operate vehicles requiring a Class B License shall receive License Pay of fifty dollars ($50.00) per pay period.

Effective upon MOU ratification, eligible employees who hold and maintain a valid Class B license shall receive a stipend of fifty dollars ($50.00) per pay period.

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20 To the extent permitted by law, Government Agency Required Class B License Pay will be reported to CalPERS as special compensation per Title 2 of the California Code of Regulations, sections 571(a)(2) and 571.1(b)(2).

The Parties agree that the City will pay for the required medical exams to obtain and maintain a Class B commercial driver’s license and the cost for any medical exam paid by the Agency is not reportable as special compensation. (b) QAC / CWEA Pay
Effective August 11, 2019, employees are eligible to receive QAC / CWEA Grade Pay as follows:

1. Employees who have met their most recent performance evaluation expectations and have voluntarily obtained their Qualified Applicator Certificate (QAC) or their California Water Environment Association (CWEA) Grade 1 certification will receive twenty-five ($25) dollars per pay period;

2. Employees who have met their most recent performance evaluation expectations and have voluntarily obtained their CWEA Grade 2 certification will receive thirty ($30) dollars per pay period;

3. Employees who have met their most recent performance evaluation expectations and have voluntarily obtained their CWEA Grade 3 certification will receive sixty ($60) dollars per pay period;

4. Employees who have met their most recent performance evaluation expectations and have voluntarily obtained their CWEA Grade 4 certification will receive ninety ($90) dollars per pay period.

Employees may not stack CWEA Grade Pay. Employees may receive QAC Pay and CWEA Pay for Grade 2 or above at the same time, but may not receive multiple forms of CWEA Pay at one time, i.e. CWEA Pay is not cumulative.

For example, an employee who has obtained her QAC and a CWEA Grade 1 will be entitled to $25 per pay period. If that same employee obtains a CWEA Grade 2, he/she will be entitled to $55 per pay period. However, if the employee initially obtained a CWEA Grade 1 with no QAC, then obtains a CWEA Grade 2, she will only be entitled to $30 per pay period for the CWEA Grade 2.

The Parties agree that QAC / CWEA Pay is not special compensation per Title 2 of the California Code of Regulations, sections 571 and 571.1. If CalPERS determines otherwise, the Parties agree QAC / CWEA Pay will be discontinued as of the next full pay period after such determination. (c) Backflow Assembly Prevention Tester Pay
Effective August 11, 2019, employees are eligible to receive Backflow Assembly Prevention Tester Certification Pay (BAPT Pay) as follows:

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21 1. Employees who voluntarily obtain their backflow assembly prevention tester certificate may submit their name to the Department Head to be placed on a list for BAPT Pay;

2. Based on Department needs, and with preapproval from the Department Director, BAPT Certification Pay list who have met their most recent performance evaluation expectations and maintain a valid BAPT certification will be recommended by the Department Head or designee to receive BAPT Pay;

3. Employee(s) selected to receive BAPT Pay will receive seventy-five dollars ($75) per pay period;

3. Employee(s) receiving BAPT Pay will be required to take assignments requiring application of their certification for the term of their backflow tester certification.

The Parties agree that BAPT Pay is not special compensation per Title 2 of the California Code of Regulations, sections 571 and 571.1. If CalPERS determines otherwise, the Parties agree BAPT Pay will be discontinued as of the next full pay period after such determination
(d) Playground Safety Inspector Pay
Effective August 11, 2019, employees are eligible to receive Playground Safety Inspector Certification Pay (PSI Pay) as follows:

1. Employees who voluntarily obtain their playground safety inspector certificate may submit their name to the Department Head to be placed on a list for the PSI Pay;

2. Based on Department needs, and with preapproval from the Department Director, PSI Pay list who have met their most recent performance evaluation expectations and maintain a valid PSI certification will be chosen by the Department Head or designee to receive PSI Pay;

3. Employee(s) selected to receive PSI Pay will receive fifty dollars ($50) per pay period;

4. Employee(s) receiving PSI Pay will be required to take assignments requiring application of their certification for the term of their certification.

The Parties agree that PSI Pay is not special compensation per Title 2 of the California Code of Regulations, sections 571 and 571.1. If CalPERS determines otherwise, the Parties agree PSI Pay will be discontinued as of the

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22 next full pay period after such determination
(e) Bilingual Premium Pay
The City shall pay fifteen dollars ($15) per pay period to employees approved to receive bilingual pay. To receive this pay, employees must (1) demonstrate the ability to both understand and effectively communicate in a language other than English at an intermediate passing score on an American Council on the Teachings of Foreign Languages assessment; and (2) be routinely and consistently assigned to a position requiring communications skills in that language as determined by the Department Head or designee for the effective or efficient operation of the City.

The Department Head or designee maintains the right to determine the number of employees eligible to receive this pay. Employees receiving this pay may be asked to assist in translating.

The Parties agree that to the extent permitted by law, bilingual premium pay is special compensation and shall be reported as such pursuant to Title 2 CCR Sections 571(a)(4) and 571.1(b)(3).
(f.) A.S.E. Mechanic Certification Pay
Effective July 24, 2022, employees are eligible to receive A.S.E. Mechanic Certification Pay.

1. Employees will be required to receive department head approval prior to enrolling in authorized A.S.E Mechanic Certification courses.

2. Employees who obtain approval and receive the authorized A.S.E Mechanic Certification will be placed on a list for A.S.E Mechanic Pay.

3. Based on operational needs, and with preapproval from the Department Director, A.S.E Mechanic Pay list who have met their most recent performance evaluation expectations and maintain a valid A.S.E certification will be recommended by the Department Head or designee to receive A.S.E Mechanic Pay.

4. Employees who have met their most recent performance evaluation expectations, obtained pre-approval and have obtained their A.S.E certification will receive twenty ($25) dollars per pay period for the following:
a. Brakes
b. Wheels and Tires
c. Electrical
d. Exhaust
The Parties agree that A.S.E Mechanic Certification Pay is not special compensation per Title 2 of the California Code of Regulations, sections 571 and 571.1. If CalPERS determines otherwise, the Parties agree A.S.E Mechanic Certification Pay will be discontinued as of the next full pay period after such determination.
(g.) Public Works Certification Pay

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23 Effective July 24, 2022, employees are eligible to receive Public Works Certification Pay.

1. Employees will be required to receive department head approval prior to enrolling in authorized Public Works Certification courses listed below.
a. Introduction to Public Works
b. Supervision for Public Works
c. Street Construction & Maintenance
d. Asphalt and Portland Cement
e. Concrete Structures & Inspections
f. Municipal and Urban Trees
g. Occupational Safety & Health for Public Works
h. Traffic Control Standards, Practices & Policies
i. Plans Interpretation
j. Pavement Preservation

2. Employees who obtain approval to take the Public Works Certification courses will be placed on a list for Public Works Certification Pay.

3. Based on operational needs, and with preapproval from the Department Director, Public Works Certification Pay list who have met their most recent performance evaluation expectations and maintain a valid Public Works certification will be recommended by the Department Head or designee to receive Public Works Certification Pay. The pay is as follows:
a. Twenty-five ($25) dollars per pay period for the completion of two.
b. Fifty ($50) dollars per pay period for the completion of four. c. One-hundred ($100) dollars per pay period for the
completion of six.

4. Effective the pay period includes July 1, 2026, Public Works Certification shall increase as follows:
a. Forty ($40) dollars per pay period for the completion of two. b. Sixty ($60) dollars per pay period for the completion of four. c. One-hundred and sixty ($160) dollars per pay period for the completion of six.

The Parties agree that Public Works Certification Pay is not special compensation per Title 2 of the California Code of Regulations, sections 571 and 571.1. If CalPERS determines otherwise, the Parties agree Public Works Certification Pay will be discontinued as of the next full pay period after such determination.
(h). Trade Certification Pay
Effective the first full pay period following Union ratification and City Council approval of this MOU, employees are eligible to receive Trade Certification Pay.

1. Employees will be required to receive department head approval prior to enrolling in authorized Trade Certification course.

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24 2. Employees who obtain approval and receive the authorized Trade Certification will be placed on a list for Trade Certification Pay.

3. Based on operational needs, and with preapproval from the Department Director, Trade Certification Pay list who have met their most recent performance evaluation expectations and maintain a valid Trade certification will be recommended by the Department Head or designee to receive Trade Certification Pay.

4. Employees who have met their most recent performance evaluation expectations, obtained pre-approval and have obtained their Trade certification will receive twenty ($25) dollars per pay period for the following:
a. Electrical
b. Plumbing
c. HVAC
d. Chemical Handling
The Parties agree that Trade Certification Pay is not special compensation per Title 2 of the California Code of Regulations, sections 571 and 571.1. If CalPERS determines otherwise, the Parties agree Trade Certification Pay will be discontinued as of the next full pay period after such determination.

4. Effective Date
License and Certification Pay shall begin on the first full pay period after the employee has submitted documentation to the department head or designee that shows the requisite criteria has been attained. Each employee is singularly responsible for submitting all documentation to qualify for a certification pay.

ARTICLE 10. HOLIDAYS

10.1 Scheduled Holidays
Eligible employees will receive the following paid holidays per year:

New Year’s Day
Martin Luther King Day
President’s Day
Cesar Chavez Day*
Memorial Day
Juneteenth Day*
Independence Day
Labor Day
Indigenous Peoples’ Day*
Veterans Day
Thanksgiving Day
Day after Thanksgiving Day
Christmas Eve
Christmas Day

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25 The City will observe a Holiday Closure* on the working days between the Christmas Day holiday and the New Year’s Day holiday, and employees will receive paid holiday pay for those days.

Additional holidays may be taken anytime upon approval of City Council.

Holidays which fall on Saturday will be observed the day before on Friday, and holidays which fall on Sunday will be observed the day after on Monday.

10.2 Floating Holiday
Unit members may elect to convert up to four observed holidays to a floating holiday.

The observed holidays identified above with an asterisk (*) are the only ones that an employee can elect to work and converted to a floating holiday.

Floating holidays may be taken anytime upon approval of the Department Head or designee.

ARTICLE 11. VACATIONS

11.1 Vacation Accrual
Annual paid vacations shall be required for the good of the service. Full-time employees (probationary and non-probationary) shall be entitled to accrue vacation time in accordance with the following schedule:

Months of Continuous
Service (“MOS”)
Annual Accrual Vacation Maximum
Accrual
0-47 MOS 112 hours 336 hours
48-59 MOS 152 hours 456 hours
60-83 MOS 160 hours 480 hours
84-107 MOS 168 hours 504 hours
108-131 MOS 176 hours 528 hours
132-155 MOS 184 hours 552 hours
156-227 MOS 192 hours 576 hours
228+ MOS 212 hours 636 hours
For the purposes of this section, “Years of Continuous Service” shall mean an employee’s length of continuous full-time service for the City since his/her last date of hire, less any adjustments due to layoff or approved leaves of absence greater than thirty (30) days, unless otherwise required by law.

Vacation accrual changes will begin the first full pay period following the employee’s anniversary date.

11.2 Vacation Eligibility Requirements
An employee shall be eligible to take paid vacation after six (6) months employment with the City, not to exceed the amount of vacation leave earned up to that time.

However, employees shall accumulate vacation upon employment with the City.

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26 Employees shall not accrue vacation leave for any pay period during which they are on leaves of absence without pay.

11.3 Scheduling Vacations
The times during a calendar year at which an employee may take his/her vacation shall be determined by the department head with due regard for the wishes of the employee and particular regard for the needs of the service. An employee shall be required to take at least one (1) calendar week of earned vacation leave at one time, unless otherwise authorized by his/her department head.

11.4 Maximum Vacation Accumulation
Exceptions to the accrual maximum, in extraordinary circumstances, may be granted with written approval of the City Manager. Any such decision shall not be subject to the grievance procedure.

11.5 Holiday Falling During Vacation
In the event a holiday as defined in Article 10.1 falls during an employee’s vacation, the employee shall not be charged a vacation day for the holiday.

11.6 Illness During Vacation
If an employee becomes ill while on vacation and wishes to use sick leave instead of approved vacation leave, the employee must immediately notify his / her supervisor.

The City reserves the right to request a certification from a physician or other health provider.

11.7 Vacation Cash-Out At Separation
Any employee who is laid off, resigns, retires, or is otherwise separated from the service of the City, shall receive vacation pay for all accrued vacation upon their separation from employment with the City. Payment for all unused vacation hours shall be at the employee’s straight time rate at the time of cash-out. In extraordinary circumstances, the City Manager has discretion to permit employees to cash-out vacation leave prior to separation. Approval for vacation cash-out prior to separation must be made in writing to the City Manager. The City Manager’s decision is not subject to the grievance procedure.

11.8 Voluntary Vacation Cash-Out
(a) 2026 Vacation Cash-Out #1
Employees may make a written, irrevocable election to cash out accrued vacation leave for payment on July 10, 2026. Elections must be submitted to Human Resources no later than December 15, 2025.

Eligibility: Employees must maintain a minimum vacation balance of 40 hours after the cash-out to be eligible.

Maximum Cash-Out by Years of Service:
• 0–4 years: up to 40 hours
• 5+ years: up to 80 hours

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27 (b) 2026 Vacation Cash-Out #2:

Employees may make a written, irrevocable election to cash out accrued vacation leave for payment on October 30, 2026. Elections must be submitted to Human Resources no later than December 15, 2025.

Eligibility: Employees must maintain a minimum vacation balance of 40 hours after the cash-out to be eligible.

Maximum Cash-Out by Years of Service:
• 10 – 15 years: up to 40 hours
• 15+ years: up to 80 hours
(c) 2030 Vacation Cash-Out:

Employees may make a written, irrevocable election to cash out up to 40 hours of accrued vacation leave for payment on June 29, 2030, regardless of years of service. Elections must be submitted to Human Resources no later than December 15, 2029.
(d) General Provisions (Applicable to All Vacation Cash-Outs):
• Payment will be made only for hours actually accrued and available at the time of distribution and will be calculated at the employee’s base hourly rate. • The cash-out payment will be included in the employee’s regular paycheck, and employees must consent to payroll deductions for all required taxes. • All payments will be reported as taxable income in the year received. • This provision is intended to comply with IRS rules regarding constructive receipt.

ARTICLE 12. LEAVE PROVISIONS

12.1 Time Off to Vote
If an employee does not have sufficient time outside of working hours to vote at a state-wide election, the employee may, without loss of pay, take off enough working time which when added to the voting time available outside of working hours will enable the employee to vote.

No more than two (2) hours of the time taken off for voting shall be without loss of pay. The time off for voting shall be only at the beginning or end of the regular working shift whichever allows the most free time for voting and the least time off from the regular working shift, unless otherwise mutually agreed.

If the employee on the third working day prior to the day of election, knows or has reason to believe that time off will be necessary to be able to vote on Election Day, the employee shall give the City at least two working days’ notice that time off for voting is desired, in accordance with the provisions of this section.

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28 Employees who are registered voters who need time off to vote should make arrangements with their immediate supervisor.

12.2 Bereavement Leave
In the event of a death in the immediate family of a full-time regular employee, up to five (5) paid working days, with a maximum of fifty (50) hours, of bereavement leave will be allowed for personal matters relating to the death. Immediate family is defined as wife, husband, mother (in-law), father (in-law), sister (in-law), brother (in-law), son (in-law), daughter (in-law), grandparent (in-law), grandchild (in-law), stepchild, or stepparent.

Days of bereavement leave need not be consecutive but the bereavement leave shall be completed within three months of the date of the death of the family member.

If requested by the City, an employee shall provide documentation of the death of the family member within thirty [30] days of the first day of the leave. Satisfactory “documentation” of the death includes, but is not limited to a death certificate, a published obituary, or written verification of death, burial, or memorial services from a mortuary, funeral home, burial society, crematorium, religious institution, or governmental agency. Any documentation provided to the employer shall be maintained as confidential.

Special circumstances beyond this policy (such as other relatives residing within the employee’s household) may be considered on a case-by-case basis and must be approved by the City Manager. If a special circumstance bereavement leave is approved, the leave shall be charged to any accrued, but unused paid leave.

12.3 Leave of Absence Without Pay
The City Manager or designee may grant an employee special leave of absence without pay for up to one (1) year whenever he / she considers such leave to be in the best interest of the City.

Failure of an employee on leave to report to work promptly at its expiration, or within reasonable time after notice to return to duty, shall be cause for discharge.

12.4 Family Medical Leave
Family care, medical, and pregnancy disability leave shall be provided according to the California Family Rights Act and the Family and Medical Leave Act.

ARTICLE 13. WORKERS’ COMPENSATION INSURANCE

13.1 Industrial Temporary Disability
Any employee incurring an injury or disability in the course and scope of his/her employment shall be entitled to injury leave to the extent provided by the State Workers’ Compensation and Insurance Act. Any employee on Workers’ Compensation injury leave shall receive full salary for up to 90 calendar days after the injury, provided medical documentation substantiates the disability. After 90 days, if

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29 the employee is still disabled he/she may opt to continue receiving the difference between full salary and Workers’ Compensation benefits to the extent earned vacation leave and/or sick leave is available.

ARTICLE 14. BENEFIT PROGRAMS

14.1 Long Term Disability Insurance
To the extent that long-term disability programs continue to be available, the City will continue to provide the kinds and types of coverage currently offered. The Employee shall pay the full premium for this insurance. The current coverage provides for income protection up to sixty-six and two-thirds per cent (66 2/3%) of monthly salary following a sixty (60) day elimination period, which begins on the date of illness or injury.

The City maintains the right to select or change carriers, and also to modify the longterm disability plans so long as the level of benefits shall remain substantially the same.

Employees should refer to the plan documents for a complete description of benefits, coverage and limitations. If, during the term of this Agreement a change in insurance plans or coverage is necessary, the City shall provide notice and, upon request, meet with representatives of the Union.

14.2 Tuition Reimbursement Program
The Tuition Reimbursement Program available to unit members is the City’s Education Reimbursement Program, as set forth in Administrative Instruction HR11.

Employees that receive benefits from any other form of Career Incentive Program (CIP), such as an Education Longevity Program (ELP), is not entitled to tuition reimbursement.

14.3 Departmental Training Program
The Department Head may grant permission for employees to attend professional conferences and meetings, or to participate in other forms of activity or training that are in the interest of the City.

Upon budget authorization, paid leave may be granted by the Department Head for such training.

Reimbursement of expenses incurred in connection with such training shall be made in accordance with the City’s Travel Policy.

14.4 Health Insurance
The City contracts with CalPERS to provide medical insurance benefits to eligible employees and their dependents, as well as eligible retirees. a) Active Employees & Eligible Retirees – The City’s monthly contribution for each eligible active employee shall be the minimum employer contribution

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30 required under PEMHCA ($158 per month for calendar year 2025), as may be adjusted by CalPERS from year to year.
b) The current required employee contribution will remain the minimum contribution allowed by law, unless the provision governing the contribution is changed, in which case the City retains the option to discontinue the program.
c) Active Employee Additional Health Contribution - The City will pay the full cost of monthly plan premiums at the tier at which the employee participates (employee, employee plus one, employee plus family), not to exceed the CalPERS Kaiser Bay Area monthly plan premium.

If the employee elects medical coverage at rates higher than the CalPERS Kaiser Bay Area plan rate, the employee will pay the difference between the CalPERS Kaiser rate at the tier at which the employee participates and the cost of the elected plan, through payroll deductions.
d) The City will be responsible for paying the CalPERS health care administrative fees.
e) The City will continue the practice of paying the January premium in December at the increased rate.
f) The City maintains the right to select, change, or modify medical plans or providers, so long as the level of benefits shall remain substantially the same.

14.5 Cash In Lieu
Upon providing proof of alternative minimum essential medical coverage for the employee and the employee’s tax family, employees may choose to opt-out of the City’s medical coverage and be provided with a cash payment of three hundred and fifty dollars ($350) per month beginning the first full pay period after sufficient proof is provided. Employees must provide proof of alternative minimum essential coverage each plan year, during open enrollment.

Effective January 1, 2026, employees who are covered by the City for health insurance as a dependent of another city employee are ineligible for the $350 per month stipend.

14.6 Flexible Benefits Plan
The City agrees to maintain a Flexible Benefits Plan pursuant to Section 125 of the Internal Revenue Code to provide eligible active employees with access to various health and welfare benefits, including a Health Care Flexible Spending Arrangement and a Day Care Flexible Spending Arrangement. The City will continue to pay any administrative fees associated with the Section 125 Plan.

14.7 Dental and Vision
The Dental and Vision Plan year is January 1 through December 31. The City’s calendar year 2026 maximum employee dental / vision reimbursement is two thousand

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31 one hundred and seventy-six dollars ($2,176) per employee and one thousand four hundred and forty-nine dollars ($1,449) per dependent per calendar year. The annual reimbursement maximum for employees and dependents will be adjusted annually using the 12-month Consumer Price Index, San Francisco Area, set by the U.S.

Department of Labor Bureau of Statistics for the month of September, not to exceed 3%, and becomes effective January 1 of the following year per City Council resolution 2008-45.

If, during the term of this Agreement, a change in dental plans or coverage is necessary, the City shall provide prior notice and, upon request, meet with representatives of the Union. Employees should refer to the plan documents for a complete description of benefits, coverage and limitations.

Employees and/or their dependents are permitted to use up to the cumulative maximum yearly reimbursement amount for dental or vision care for the employee and/or his or her dependents, as long as such care is not otherwise covered by the employee’s or his or her dependents’ medical insurance plan.

14.8 State of California Short Term Disability/SDI
Employees participate in the State of California Short Term Disability Program. The program shall be at the employee’s cost.

14.9 Quality of Life Wellness Employee Reimbursement Program Effective July 1, 2022, the City implemented a Quality-of-Life Employee Reimbursement Plan, which provides up to $1,300 per calendar year (maximum of $50 per pay period) for approved wellness activities. Eligible categories include:
• Mental/Emotional Wellness
• Health/Physical Wellness
• Financial/Retirement Wellness
Elections made after an employee’s hire date will take effect on the first day of the following pay period. If no election is received within 30 days of hire, the employee will automatically be enrolled in the Navia Wellness benefit.

14.10 Retiree Health Savings Plan
The City provides all represented employees with access to a Retiree Health Savings Plan (RHSP) administered by MissionSquare.
a) City Contributions
Effective January 1, 2020, the City began contributing to each employee’s RHSP account, depending on years of service at the City, as follows:
• Twenty-five dollars ($25) per pay period for 0 – 5 years of City service • Thirty-five dollars ($35) per pay period for 5-10 years of City service • Forty-five dollars ($45) per pay period for 10+ years of City service. •

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32 b) Employee Contributions
Effective September 20, 2020, employees began making matching contributions per pay period through pre-tax payroll deductions on the same years of city service tiers listed above.

ARTICLE 15. RETIREMENT

15.1 PERS Retirement and Employee Contributions
a) 2.7% at 55 Retirement Plan
For employees hired on or after the first full pay period in July 2003 or on or before June 30 2010, the City provides the PERS 2.7% at 55 retirement plan for miscellaneous employees. Each Employee shall pay the full eight percent (8%) employee’s contribution to maintain such benefit. The benefits currently provided are:

Single highest year compensation
Sick leave credit
3rd Level 1959 Survivor
Military Service Credit
b) 2.0% at 60 Retirement Plan
For Employees hired on or after July 1, 2010 or on or before December 31, 2012, the City provides the PERS 2.0% at 60 retirement plan for miscellaneous employees with retirement formula of three years of highest compensation.

Each employees shall pay the full seven percent (7%) employee’s contribution of the PERS miscellaneous employee’s contribution to maintain such benefit. c) PEPRA 2.0% at 62 Retirement Plan
For “New Member” Employees hired on or after January 1, 2013, the City provides the PERS 2.0% at 62 retirement plan. Employees shall pay the retirement contributions as required under provisions of the PEPRA retirement law and any subsequent amendments thereto which is currently fifty percent (50%) of the normal cost rate.

15.2 Sick Leave Pay Out at Honorable Separation.

Upon honorable separation from the City (death, or resignation with no accompanying investigation or disciplinary matter), employees with five (5) or more years of continuous service with the City, shall receive cash payment of their accumulated and unused sick leave hours, up to 100 hours. Each hour of cashed-out sick leave will be paid at the employee’s base hourly rate at the time of separation.

Upon retirement from the City, accumulated and unused sick leave hours shall be reported to CalPERS for sick leave credit.

ARTICLE 16. PHYSICAL EXAMINATIONS

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33 The City will pay for all physical examinations required by the City.

ARTICLE 17. SAFETY
The City and the Union have a mutual interest in providing safe and healthful working conditions for its employees, in protecting City property from damage and loss and in ensuring the safety of the public when using City facilities. To this end both parties will work actively to adhere to the provisions of the City’s Injury and Illness Prevention Program.

17.1 Health and Safety Provisions
Health and safety provisions are covered under the City’s Injury and Illness Prevention Program.

17.2 City Safety Committees
One City employee, who is a member of the Union, shall be a member of the City’s Safety Committee.

17.3 Outstanding Safety Issues
Any outstanding safety issues or concerns should be addressed to the employee’s immediate supervisor.

ARTICLE 18. GRIEVANCE PROCEDURE

18.1 Purpose
The following procedure is intended to be the exclusive remedy for resolving grievances, as defined below, and replaces the Grievance and Appeals procedure in the City of Los Altos’ Personnel Regulations.

The City and the Union recognize that early settlement of grievances is essential to sound employee-employer relations. In presenting a grievance, the aggrieved and/or his/her representative is assured freedom from restraint, interference, coercion, discrimination, retaliation or reprisal.

18.2 Definition, Scope and Right to File
A grievance may be filed by an individual employee, or by the Union on behalf of an employee who is otherwise eligible to file a grievance.

Should a decision not be rendered within the stipulated time limit, the aggrieved employee may immediately appeal to the next step of this procedure. A grievance may be considered settled if the decision at any level is not appealed within the specified time limit. A summary of the grievance procedure and application time requirements is attached as Appendix B.

All grievances shall be filed in accordance with this procedure. A grievance is defined as any dispute involving the interpretation, application or alleged violation of:

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34 (a) The current MOU between the City and the Union;
(b) The City’s Personnel Regulations, policies or procedures; (c) A dispute involving any disciplinary action taken against a permanent employee or probationary promotional employee (as used in this Article, discipline is defined as any dismissal, suspension, or demotion.)’ (d) Performance evaluations resulting in a step decrease.

The following matters are specifically excluded from consideration under the Grievance Procedure:
• The determination of the contents of job classifications; • The determination of procedures and standards of selection for employment or promotions;
• Items which require a capital expenditure;
• Item subject to the Meet and Confer process as defined in the California Government Code;
• All City rights specified in this Agreement and in the City’s Employer-Employee Relations Resolution;
• The release of an employee during his/her original probation period; • Performance evaluations resulting in the non-award of a scheduled step increase. • Complaints of harassment, discrimination, or retaliation, which shall be handled in accordance with the City’s policies and applicable law.

The content of documented oral counseling, written reprimands/warning and performance evaluations are not grievable, but may be discussed directly with the Department Head, the Human Resources Director, and subsequently with the City Manager.

18.3 Step 1 – Informal Grievance Procedure
Within ten (10) calendar days of discovery of an event giving rise to a dispute, the employee and/or the employee representative shall present the dispute informally to the supervisor, manager or division head as appropriate. Where the dispute involves the relationship with the supervisor or manager they have a mutual responsibility to make a good-faith effort to resolve the matter at the lowest possible level. The

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35 supervisor or manager shall respond to the employee within ten (10) calendar days of the informal meeting with the employee and/or employee representative.

Presentation of an informal grievance shall be necessary prior to filing of a Formal Grievance.

18.4 Step 2 – Formal Grievance Procedure
If the employee believes that the issue in dispute was not resolved informally, a formal grievance may be filed with the Department Head within ten (10) calendar days from the employee’s receipt of the decision of the supervisor or manager. A formal grievance shall only be initiated in writing and shall contain information which:
(a) Identifies the aggrieved;
(b) Specifies the nature of the grievance, including a description of the time and place of relevant events;
(c) Delineates the rule, law, regulation, or policy alleged to have been violated, improperly interpreted, applied or misapplied;
(d) Describes the consideration given and steps taken to secure informal resolution of the problem;
(e) Describes the corrected action desired; and
(f) Gives the names of the employee representative.

Within ten (10) calendar days after receipt of the written grievance, the Department Head or designee shall investigate the matter, confer with persons affected, (and their representatives) to the extent deemed necessary and render a decision in writing.

18.5 Step 3 – Personnel Review
If the decision of the Department Head or designee does not resolve the dispute to the satisfaction of the employee, the employee or his or her representative may request a review by the Administrative Services Director or other designee by the City Manager. The request of the meeting shall be made in writing within ten (10) calendar days of receipt of the decision of the Department Head or designee.

Within ten (10) calendar days after the request for review, the Administrative Services Director or designee shall investigate the matter, confer with persons affected (and their representatives) to the extent deemed necessary and render a decision in writing.

18.6 Step 4 –Appeals Board
If the decision of the Administrative Services Director or designee does not resolve the dispute to the satisfaction of the employee, the employee or his/her representative may request a hearing before a formal Appeals Board. The request for the meeting shall be made in writing within ten (10) calendar days of receipt of the decision of the Administrative Services Director or designee.

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36 Appointment of Appeals Board: Upon receipt of an appeal by the Administrative Services Director, an Appeals Board shall be formed. Within ten (10) calendar days following the receipt of the appeal, the City Manager or designee shall appoint two (2) representatives to the Appeals Board, and the appellant shall appoint two (2) representatives to the Appeals Board. No Appeals Board representative shall be an employee of the same department as the appellant, but all four (4) appointed representatives must be employees of the City. The parties shall, concurrently with the appointment process, mutually agree to the selection of one non-City employee to serve as a fifth non-voting member and chairperson of the Appeals Board. If the parties cannot agree on the fifth non-voting member, the fifth member shall be appointed by the State Mediators office. The names of all five members of the Appeals Board shall be received by the Administrative Services Director or designee no later than ten (10) calendar days following his/her receipt of the appeal. If either the City Manager or designee or the appellant fail to appoint within this time, then, in that event, the Administrative Services Director shall, upon notice to the delinquent party, appoint employees to any vacant Appeals Board positions. Requests for a time extension shall be mutually agreed upon by both parties. All time extension requests shall be made in writing.

Date of Hearing – Notice: Immediately after receiving the names of the members of the Appeals Board, the Administrative Services Director or designee shall set a date for the Appeals Board to hold a hearing on the matter of appeal. Such hearing shall be held no later than twenty-five (25) calendar days following the naming of the Appeals Board, unless a later date is agreed to by the appellant or it is not reasonably possible to convene the Appeals Board within that twenty-five (25) calendar days, taking into consideration the time necessary for all parties to prepare the matter for hearing. The Administrative Services Director or designee shall, immediately upon the selection of a hearing date, give written notice of the date, location and time of the hearing and identify the Appeals Board members to the appellant, the department head and other appropriate persons from whose action the appeal is made.

Hearing:
(a) At the date and time and place specified, the Appeals Board shall conduct a hearing on the appeal filed
(b) Unless incapacitated, the appellant shall personally appear before the Appeals Board at the time and place of the hearing and shall not be excused from answering questions and supplying information except upon claim of constitutional privilege.
(c) Upon conclusion of the hearing, the Appeals Board shall certify its findings and recommendations within fifteen (15) calendar days to the City Manager with copies to the Administrative Services Director or designee, appropriate department head and appropriate department head and appellant. (d) In the event of absence, illness or disability of a majority of the Appeals Board, the time limitation shall not be used to invalidate the appeal procedure or

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Los Altos City CouncilNovember 18, 2025

Los Altos City Council
November 18, 2025