Los Altos Hills City Council
February 20, 2025

1 City Council Regular Meeting Agenda
February 20, 2025

NOTICE TO PUBLIC
Any writings or documents provided to a majority of the City Council regarding any item on the open session portion of this agenda will be made available for public inspection in the City Clerk’s office located at 26379 Fremont Road, Los Altos Hills, California during normal business hours. These materials will also be made available on the City website at www.losaltoshills.ca.gov subject to Staff’s ability to post the documents before the meeting.

NOTICE IS HEREBY GIVEN THAT A REGULAR MEETING OF THE

LOS ALTOS HILLS CITY COUNCIL WILL BE HELD ON
THURSDAY, FEBRUARY 20, 2025, AT 6:00 P.M.

Meetings of the City Council are held in-person. As a courtesy, and in compliance with applicable state law, staff and members of the public may participate in the meeting in person at Town Hall or virtually via Zoom Video Conference. Members of the City Council may participate remotely from time to time in accordance with the provisions of Government Code section 54953.

To attend the meeting in person:

City Council Chambers, 26379 Fremont Road, Los Altos Hills, CA 94022 To provide Public Comment in person:

Members of the public wishing to speak are requested to complete a speaker card and submit it to the City Clerk at the meeting.

To participate in the meeting via Zoom Video Conference, please follow the instructions below:

Public comment will also be accepted via email at [email protected] prior to the start of the meeting. Written comments will be posted on the website and distributed to the Council.

If you choose to email your comments, please indicate in the subject line “FOR PUBLIC COMMENT” and indicate the item number.

If you wish to submit a public comment during the meeting, please use the following information.

Before speaking, please identify yourself by name and where you reside. The City Council meeting will be live-streamed on the Town’s website and via Zoom at the following location:
https://bit.ly/LAHRegularCityCouncilMtg
Meeting ID: 880 1278 9215
Password: 94022
Town of Los Altos Hills
City Council Regular Meeting Agenda
Thursday, February 20, 2025 at 6:00 PM
Council Chambers, 26379 Fremont Road
Los Altos Hills, California

2 City Council Regular Meeting Agenda
February 20, 2025
CALL TO ORDER (6:00 P.M.)

ROLL CALL

PLEDGE OF ALLEGIANCE

1. AGENDA REVIEW

2. PRESENTATIONS AND APPOINTMENTS
A. Reappointment to the Finance and Investment Committee- Kjell Karlsson (Staff: A.

Miller)
B. Proclamation Recognizing the Daughters of the American Revolution on its 75th Anniversary (Mayor Tankha)

3. PRESENTATIONS FROM THE FLOOR
Persons wishing to address the Council on any subject not on the agenda may do so now. Please complete a Speaker Card located on the back table of the Council Chambers and submit it to the City Clerk. Comments are limited to two (2) minutes per speaker. California law prohibits the Council from acting on items that do not appear on the agenda. Under a Resolution previously adopted by the Council, such items can be referred to staff for appropriate action, which may include placement on the next available agenda.

4. INFORMATIONAL REPORTS (ITEMS PROVIDED SOLELY FOR

INFORMATIONAL PURPOSES)
A. Treasurer's Report (Staff: T. Leung)
B. Disbursement Report (Staff: T. Leung)
C. Quarterly Investment Report (Staff: T. Leung)

5. CONSENT CALENDAR
A. Approval of the City Council Regular Meeting Minutes of December 19, 2024 (Staff: A. Miller)
B. Approval of City Council Special Meeting Minutes for January 29, 2025 (Staff: A.

Miller)

3 City Council Regular Meeting Agenda
February 20, 2025
C. Approval of City Council Regular and Special Meeting Minutes of January 30, 2025 (Staff: A. Miller)
D. Termination of Appointment to the Pathways Committee - Helga Carson (Staff: A.

Miller)
E. Resolution Approving and Authorizing Execution of the Viscaino Road Sanitary Sewer Reimbursement Agreement between the Town of Los Altos Hills and Ajay Shah and Leslie Harris (Staff: D. Liang)
F. Resolution Approving and Authorizing Execution of the Amended and Restated Funding Agreement with the Santa Clara Valley Transportation Authority, updated in January 2025, for the 2016 Measure B Bicycle & Pedestrian Education and Encouragement Program (Staff W. Kim).

G. Resolution Accepting Storm Drainage and Temporary Use Easement Agreement at 12871 Atherton Court; Lands of The Hsu and Lin Family Trust (Staff J. Bradford) H. Ordinance (Second Read) Amending Title 2, Chapter 6 of the Los Altos Hills Municipal Code Adding Conflict of Interest Designations (Staff: S. Mattas) I. Resolution Adopting the Revised Investment Policy (Staff: T. Leung) J. Resolution Authorizing the City Manager to Execute a Five-Year Agreement with Flock Safety for 31 Automatic License Plate Reader Cameras (Staff: C. Einfalt) K. Resolution Authorizing the City Manager to Execute an Agreement with PalAmerican Private Security for Security Patrols in FY2024-25 (Staff: C. Einfalt)

6. ONGOING BUSINESS
A. Resolution Approving the 2024-25 Amended Work Plan (Staff: C. Einfalt)

7. PUBLIC HEARINGS
 City Council Ex Parte Contacts Policy Disclosure
A. First Reading of an Ordinance Amending Sections 10-1.202, 10-1.702, and various other associated sections of the Los Altos Hills Municipal Code to permit the residential uses of transitional and supportive housing, residential care, farmworker and employee housing, and single room occupancy (SROs) and the proposed objective design standards for these four residential uses. (Staff: J. Bradford)

4 City Council Regular Meeting Agenda
February 20, 2025

8. NEW BUSINESS
A. Receive 2024-25 Mid-Year Financial Report and Adopt Resolution Approving Mid-Year Budget Appropriations (Staff: T. Leung)
B. Resolution Authorizing the City Manager to Surplus the Nonoperational 2008 Ford F250 and to Purchase a Replacement Truck not to exceed $120,000 (Staff: M.

Schloetter)
C. Resolution Authorizing The City Manager To Execute An Agreement With KMVT 15 Community Media To Provide Video Services For Public Meetings, and Appropriate Comcast Franchise Fees To Cover The Expenses (Staff: J. Parcutilo)

9. STAFF REPORTS
A. City Attorney
B. City Clerk
C. Planning Director
D. Administrative Services Director
E. Public Works Director
F. City Manager

10. REPORTS FROM COMMITTEES, SUB-COMMITTEES, AND

COUNCILMEMBERS ON OUTSIDE AGENCIES
A. Hills 2000 and Friends of the Hills request for the Town of Los Altos Hills to cosponsor Vines & Wines 2025 on Sunday, October 25, 2025. (Council Member Swan)
B. Housing Element Amendment Ad Hoc Committee Report (Vice Mayor Bhateja and Council Member Mok)
C. Amending the EPRC Ad Hoc Committee Appointee to Vice Mayor Bhateja (Mayor Tankha)

11. COUNCIL INITIATED ITEMS
A. Allow Los Altos Hills Community Fiber to install conduits from their curbside installation to Town infrastructure, to enable resilient connections to Town internet and power infrastructure in the future (Vice Mayor Bhateja)

5 City Council Regular Meeting Agenda
February 20, 2025

12. ADJOURN
Pursuant to Ordinance No. 506, the Council Meeting shall adjourn no later than 10:00 p.m., unless otherwise approved by a majority of the Councilmembers present.

ASSISTANCE FOR PERSONS WITH DISABILITIES
In compliance with the Americans with Disabilities Act, if you need special assistance to participate in the meeting, please contact the City Clerk at 650-941-7222. Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting.

Copies of all agenda reports and supporting data are available for inspection at Town Hall, 26379 Fremont Road and the Los Altos Main Library 72 hours in advance of the meeting. A complete agenda can be found on the Town’s webpage: http://www.losaltoshills.ca.gov. A complete packet of information is available for inspection during the meeting at the table to the back of the Council Chambers.

The Council may take action on any agendized matter in any manner deemed appropriate by Council.

ITEM 2A

TOWN OF LOS ALTOS HILLS

MEMORANDUM
DATE: February 20, 2025
FROM: Arika Birdsong-Miller, City Clerk ABM
APPROVED: Peter Pirnejad, City Manager PP
RE: Reappointment to the Los Altos Hills Finance & Investment Committee Attached for your review and consideration is an email regarding the reappointment of the following individual to the Los Altos Hills Finance and Investment Committee:
• Kjell Karlsson
Kjell Karlsson’s new term will begin in February 2025 and end in February 2029.

Resolution 90-22 stipulates that the membership of this committee shall consist of a minimum of five (5) members and a maximum of nine (9) members. With this reappointment, the Committee would have five (5) members and four (4) vacancies.

1 Arika Miller
From: Kjell Karlsson
Sent: Wednesday, February 5, 2025 11:25 AM
To: Keren Brunner
Cc: Arika Miller
Subject: Re: renewing your committee appointment
Thank you for reaching out.

Yes, I absolutely would like to stay on the FIC.

What do I need to do to make that happen?
Kjell,
On Wed, Feb 5, 2025, 10:28 Keren Brunner <[email protected]> wrote:

Good Morning Kjell,
Your appointment to the Finance & Investment Committee is expiring this month. Your contributions to this committee have been valuable and your institutional knowledge would assist new volunteers, which are also needed for this committee.

We would appreciate it if you would consider applying for another term.

Please reply as soon as possible if you wish to “term out” OR if you wish to extend your role for another term.

The next City Council meeting is scheduled for February 20, 2025, and we would like to include your application for another term in the Consent Calendar.

Thank you,

2 Keren Brunner
Administrative Clerk/ Technician
Town of Los Altos Hills
26379 Fremont Road, Los Altos Hills, CA 94022
P: 650-947-2519 | F: 650-941-3160
E: [email protected]
Stay informed.

Sign-up to take Town Surveys!

Proclamation Of the Mayor
Of the City of Los Altos Hills, California
WHEREAS, the Los Altos Chapter of the Daughters of the American Revolution was organized on February 17, 1950; and
WHEREAS, the Organizing Regent for the chapter was Clara Ferry Smith Caldwell (Mrs. Albin) with 37 women following her as Regent, including many who were residents of Los Altos; and WHEREAS, the Los Altos Chapter is part of the National Society Daughters of the American Revolution, a non-profit, non-political, volunteer women's service organization dedicated to promoting patriotism, preserving American History, and securing America's future through better education for children. Any woman 18 years or older is eligible to join if she can prove lineal descent from a supporter of the American Revolution (through military service, financial donations such as donations at the California presidios, food supply, government service, or other support); and
WHEREAS, the Los Altos Chapter, DAR has a 75-year history of service in its local communities; and
WHEREAS, currently, the Los Altos Chapter provides service through local historic preservation projects, genealogy classes for the community, American History essay and video contests for school children, a scholarship for a Foothill College transferring to a 4-year institution, service to veterans, environmental conservation, recognition awards for Community Service and high school Good Citizen, as well as other projects
“CONGRATULATING THE LOS ALTOS CHAPTER, DAUGHTERS OF THE AMERICAN REVOLUTION ON ITS 75TH ANNIVERSARY”
NOW, THEREFORE, I, Kavita Tankha, Mayor of the City of Los Altos Hills, on behalf of the Los Altos Hills City Council do hereby congratulate the Los Altos Chapter, DAR on 75 years of service to the community and celebrate your chapter's anniversary. ___________________________________
Mayor Kavita Tankha

ITEM 4A Staff Report
REVISED 2.13.25
TOWN OF LOS ALTOS HILLS February 20, 2025
Staff Report to the City Council
SUBJECT: RECEIVE TREASURER’S REPORT FOR PERIOD ENDING DECEMBER 31, 2024
FROM: Thomas Leung, Finance Director
APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:

Review and accept the Treasurer’s Report for the month ending on December 31, 2024.

BACKGROUND:

California Government Code Section 41004 requires the City Treasurer to submit a written report and accounting of all receipts, disbursements, and fund balances to the City Clerk and the legislative body. This report fulfills that requirement, summarizing the Town’s financial transactions for its cash and investment accounts for the month.

DISCUSSION:

The attached Treasurer’s Report provides details of the Town’s cash and investment balances, including all receipts and disbursements for the month.

ENVIRONMENTAL REVIEW:

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. 2024-25 CITY COUNCIL WORK PLAN:

The report is for financial transparency and to comply with government code. It was not specified as one of the City Council’s Work Plan items for 2024-25.

FISCAL IMPACT:

There is no fiscal impact.

ATTACHMENT:

1. Treasurer’s Report as of December 31, 2024.

Name Beginning
Balance Total Total Ending Balance
12/1/2024 Receipts (+) Disbursement (-) as of 12/31/24
CASH ACCOUNTS:

Cash on hand & Petty Cash 1,900.00 - 898.00 1,002.00
Wells Fargo Bank 973,460.38 3,356,429.55 3,037,636.06 1,292,253.87 Total: 975,360.38 3,356,429.55 3,038,534.06 1,293,255.87 Ending Balance
as of 12/31/24
INVESTMENT ACCOUNTS:

Investments - Local Agency Investment Fund (LAIF) - per Par Value 2,102,984.81 Investments - CAMP Portfolio - per Market Value 22,102,816.64 Investments - PARS 115 Trust Pension - per Market Value - Restricted 1,269,176.07 Investments w/ Fiscal Agent - BNY Mellon - per Par Value - Restricted 162,562.11 Total: 25,637,539.63
TOTAL CASH & INVESTMENTS ACCOUNTS 26,930,795.50

DEPOSIT LIABILITIES
Building Dept Deposits 4,573,152.33
CASH & INVESTMENTS ACCOUNT BALANCE:

Prior Year
Carry forward Increase/ Ending Balance Current Current Ending Balance* Fund # Fund Name: Fund Classification: as of 7/1/24 (Decrease) as of 11/30/24 Increase (DR) Decrease (CR) as of 12/31/24 11 General Fund General Fund 21,212,442.38 (893,933.70) 20,318,508.68 1,863,150.46 1,747,596.51 20,434,062.63 16 Parks & Rec - In Lieu Fee Special Revenue 450,296.44 561.92 450,858.36 - 1,010.24 449,848.12 19 ARPA - AMERICAN

RESCUE PLAN ACT
Special Revenue
813,105.06 - 813,105.06 - - 813,105.06
21 COPS FUND Special Revenue (188,328.86) 108,515.64 (79,813.22) 8,888.23 2,009.82 (72,934.81) 71 SPECIAL DONATIONS Special Revenue 34,472.90 - 34,472.90 - - 34,472.90 46 STREET CIP Streets Capital Projects (41,114.00) (594,067.82) (635,181.82) 44,277.93 79,467.36 (670,371.25) 41 GENERAL CIP FUND Other Capital Projects 977,885.87 129,897.04 1,107,782.91 - 1,859,009.91 (751,227.00) 42 PATHWAYS CIP Other Capital Projects 790,708.48 89,506.24 880,214.72 - 8,842.15 871,372.57 43 WESTWIND BARN CIP Other Capital Projects 230,335.22 29,051.85 259,387.07 4,815.78 4,832.76 259,370.09 45 DRAINAGE CIP Other Capital Projects 630,563.73 (39,400.60) 591,163.13 2,069.76 10,577.84 582,655.05 48 SEWER FUND CIP Enterprise-Sewer 4,492,471.14 (550,606.11) 3,941,865.03 - 28,455.30 3,913,409.73 51 SEWER FUND Enterprise-Sewer 2,161,921.25 (1,979,620.55) 182,300.70 17,852.00 155,385.91 44,766.79 31 SEWER ASSESSMENT D Fiduciary 318,213.34 (102,634.68) 215,578.66 8,530.92 9,599.62 214,509.96 61 GENERAL SERVICE FUNInternal Service Fund 835,460.07 (434,477.67) 400,982.40 958,573.69 551,800.43 807,755.66 32,718,433.02 (4,237,208.44) 28,481,224.58 2,908,158.77 4,458,587.85 26,930,795.50 *Fund balances are unaudited, and may not include all necessary adjustments. These figures will be updated in future reports once the FY23/24 independent audit is completed
Monthly Treasurer's Report
FY 2024-25
Month of December (Unaudited)
Pursuant to California Government Code Section 41004

TOTAL CASH & INVESTMENTS ACCOUNT
ITEM 4A Attachment 1
REVISED 2.13.25

ITEM 4B Staff Report
REVISED 2.13.25
TOWN OF LOS ALTOS HILLS February 20, 2025
Staff Report to the City Council
SUBJECT: RECEIVE DISBURSEMENTS REPORT FOR PERIOD ENDING DECEMBER 2024
FROM: Thomas Leung, Finance Director
APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:

Receive the December 2024 Disbursements Report.

BACKGROUND:

The Disbursements Report is submitted to the City Council for transparency.

DISCUSSION:

The table below summarizes Accounts Payable and payroll disbursements. 2,680,106.36 Total Accounts Payable Disbursements
358,427.70 Total Payroll Disbursements
3,038,534.06 Total Disbursements
The table below provides a breakdown of payroll disbursements, as well as payments to vendors who received more than $10,000 in total during the month. These disbursements are approximately 94% of total disbursements for the month.

Staff Report to City Council Page 2
Disbursements Report December 31, 2024
February 20, 2025
ENVIRONMENTAL REVIEW:

The Disbursements Report is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15061(b)(3) of the CEQA Guidelines. 2024-25 CITY COUNCIL WORK PLAN:

The report is for financial transparency and was not specified as one of the City Council’s Work Plan items for 2024-25.

FISCAL IMPACT:

There is no fiscal impact.

ATTACHMENTS:

1. December 2024 Disbursements Report by Vendor.

Amounts Vendors Description
276,136.60 EFT: ADP- Payroll Services and other Bank adjustments/fees Pay Date: 12.13.24
Payroll: $119,715.96
Payroll Taxes: $31,373.79
Payroll Date: 12.27.24
Payroll: $91,042.82
Payroll Taxes: $28,461.78
Bank Adjustments/Fees = $5,362.25
82,291.10 EFT: CalPERS (retirement and health) and Navia for Flex Spending
Employer contributions and employee
withholdings related to payroll benefits.
1,593,490.45 PHOENIX ELECTRIC COMPANY El Monte Undergrounding Electrical 221,319.00 SANTA CLARA COUNTY SHERIFF'S DEPT Law enforcement services - December 2024
84,020.85 BELLECCI & ASSOCIATES INC El Monte Undergrounding Construction Management
77,812.09 CSG CONSULTANTS INC Building inspections & plan reviews 62,700.00 NEMETH TAMAS ET AL ZHANG XI Refund deposit
62,453.42 O'GRADY PAVING INC Pavement rehabilitation
56,286.10 THE KPA GROUP Heritage house remodel planning 52,751.00 CITY OF SUNNYVALE Santa Clara County Grand Nexus and Feasibility Study
47,979.27 PALAMERICAN SECURITY (SILICON VALLEY) INC Residential patrol services 42,000.00 IGM TECHNOLOGY CORP Budgeting software
36,344.18 MissionSquare Retirement plan contributions
31,320.00 EATON AND ASSOCIATES IT managed services & workstation upgrades
27,596.75 SHARED AGENCY RISK POOL Worker's compensation insurance - Q2 22,450.00 THE F.A. BARTLETT TREE EXPERT COMPANY Tree assessment services 16,178.07 MICHAEL BAKER INTERNATIONAL INC. Housing element updates 15,108.00 HARPER, KEVIN W. Professional services - Finance Manager 14,212.50 SYNEGEN, INC Custom project software
13,617.44 REDWOOD PUBLIC LAW, LLP General legal counsel services 13,552.00 4LEAF, INC Permit technician services
2,849,618.82 Total Page 13 of 450
2/12/2025 12:15:54 PM Page 1 of 15
Expense Approval Report
Town of Los Altos Hills By Vendor Name
Payable Dates 12/1/2024 - 12/31/2024
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: 4LEAF01 - 4LEAF, INC
4LEAF, INC J4016-00V 12/05/2024 PERMIT TECHNICIAN M GUZU… 011-3200-6199 13,552.00 Vendor 4LEAF01 - 4LEAF, INC Total: 13,552.00
Vendor: AAA94063 - AAA RENTALS
AAA RENTALS 825661 12/18/2024 LIFTBOOM & TRAILERTILT RE… 061-4300-6405 385.00 Vendor AAA94063 - AAA RENTALS Total: 385.00
Vendor: YOUNG10 - ALICE YOUNG
ALICE YOUNG 12.3.24 12/05/2024 NEIGHBORHOOD WATCH ORI… 011-2100-6399 49.07 Vendor YOUNG10 - ALICE YOUNG Total: 49.07
Vendor: AMAZON30353 - AMAZON
AMAZON 14XT-3PXQ-P7C1 12/05/2024 PARTY SUPPLIES 10/21/24 061-1480-6361 40.41 AMAZON 14XT-GKPT-KX3T 12/05/2024 OFFICE SUPPLIES 11/6/24 061-1480-6301 45.82 AMAZON 171N-JFGY-1QFW 12/05/2024 OFFICE SUPPLIES 11/6/24 061-1480-6301 6.77 AMAZON 1KHM-NVVH-NRV4 12/05/2024 PARTY SUPPLIES FOR PARK & … 011-1700-6209 10.90 AMAZON 1KLL-4DVH-1GPK 12/05/2024 OFFICE SUPPLIES 11/8/24 061-1480-6301 41.85 AMAZON 1X3N-JC7X-HCG6 12/05/2024 RAINBOOTS FOR STAFF 11/18… 061-4300-6325 141.86 AMAZON 1JDJ-71VX-RGYP 12/18/2024 OFFICE SUPPLIES 11/12/24 061-1480-6398 13.54 AMAZON 1KX1-YVLP-1DT6 12/18/2024 CHRISTMAS ORNAMENT KIT F… 011-4120-6361 129.78 AMAZON 1LR3-DK39-1RXW 12/18/2024 O/DOOR TABLES&CHAIRS-CO… 061-1480-6398 216.89 AMAZON 1QDR-TMPF-4D7C 12/18/2024 OFFICE PAPER SHREDDER 11/… 061-1480-6398 59.57 AMAZON 1WMY-GWKK-3YR9 12/18/2024 KITCHEN SUPPLIES 11/12/24 061-1480-6398 298.67 Vendor AMAZON30353 - AMAZON Total: 1,006.06
Vendor: AMERIGAS91109 - AMERIGAS PROPANE INC.

AMERIGAS PROPANE INC. 3170520409 12/05/2024 PROPANE FOR TOWN HALL G… 061-1480-6342 131.24 AMERIGAS PROPANE INC. 3170520410 12/05/2024 PROPANE FOR CORP YARD 11… 061-4300-6342 2,148.69 Vendor AMERIGAS91109 - AMERIGAS PROPANE INC. Total: 2,279.93 Vendor: CONRAD92020 - AMY CONRAD
AMY CONRAD 1023 12/05/2024 PRODUCT SERVICES 11/5/2024 041-6900-6199 5,043.75 AMY CONRAD 1034 12/05/2024 PRODUCT SERVICES 12/3/24 041-6900-6199 1,425.00 Vendor CONRAD92020 - AMY CONRAD Total: 6,468.75
Vendor: ANIMAL95037 - ANIMAL DAMAGE MANAGEMENT
ANIMAL DAMAGE MANAGEM… 358997 12/05/2024 PURISSIMA PARK PEST CONT… 011-5100-6130 650.00 ANIMAL DAMAGE MANAGEM… 368082 12/18/2024 TWICE PER MONTH PEST CON… 011-5100-6130 650.00 Vendor ANIMAL95037 - ANIMAL DAMAGE MANAGEMENT Total: 1,300.00 Vendor: ATTMOBILITY - AT&T MOBILITY
AT&T MOBILITY 287319629759X12102024 12/18/2024 PARKS & REC SPECIALIST 11/1… 011-1000-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 LAH HOTSPOT 2 11/13/24-12/…011-1200-6362 40.24 AT&T MOBILITY 287319629759X12102024 12/18/2024 5G HOTSPOT 11/13/24-12/2/… 011-1200-6362 40.24 AT&T MOBILITY 287319629759X12102024 12/18/2024 DEPUTY CITY MANAGER 11/13…011-1200-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 MANAGEMENT ANALYST 11/1…011-1200-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 CITY MANAGER 2 11/13/24-1… 011-1200-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 ADMINISTRATIVE CLERK/TEC… 011-1300-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 CITY CLERK 11/13/24-12/2/24 011-1300-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 FINANCE DIRECTOR 2 11/13/… 011-1400-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 SENIOR ACCOUNTANT 2 11/… 011-1400-6362 20.72 AT&T MOBILITY 287319629759X12102024 12/18/2024 SENIOR ACCOUNTANT 2 11/… 011-1400-6362 20.72 AT&T MOBILITY 287319629759X12102024 12/18/2024 PLANNING DIRECTOR 11/13/2…011-3100-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 PLANNING IPAD 11/13/24-12/…011-3100-6362 40.24 AT&T MOBILITY 287319629759X12102024 12/18/2024 BUILDING IPAD 11/13/24-12/… 011-3200-6362 40.24 AT&T MOBILITY 287319629759X12102024 12/18/2024 BUILDING INSPECTOR 11/13/… 011-3200-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 PWD IPAD 2 11/13/24-12/2/24 011-3300-6362 40.24 AT&T MOBILITY 287319629759X12102024 12/18/2024 PUBLIC WORKS IPAD 11/13/24…011-3300-6362 40.24 ITEM 4A Attachment 1
REVISED 2.13.25

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 2 of 15
Vendor Name Payable Number Post Date Description (Item) Account Number Amount AT&T MOBILITY 287319629759X12102024 12/18/2024 SIGNAL EL MONTE & VOORHE… 011-3300-6362 44.35 AT&T MOBILITY 287319629759X12102024 12/18/2024 SIGNAL EL MONTE & STONEB… 011-3300-6362 44.35 AT&T MOBILITY 287319629759X12102024 12/18/2024 SIGNAL EL MONTE & PERIMET…011-3300-6362 44.35 AT&T MOBILITY 287319629759X12102024 12/18/2024 UTILITY ENGINEERING MANA… 011-3300-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 ASSISTANT ENGINEER 11/13/… 011-3300-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 ASSOCIATE ENGINEER 11/13/… 011-3300-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 ASSISTANT ENGINEER 11/13/… 011-3300-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 PWD IPAD1 2 11/13/24-12/2… 011-3300-6362 40.24 AT&T MOBILITY 287319629759X12102024 12/18/2024 MAINTENANCE SUPERINTEND…061-4300-6362 50.13 AT&T MOBILITY 287319629759X12102024 12/18/2024 MAINTENANCE WORKER11/1… 061-4300-6362 45.09 AT&T MOBILITY 287319629759X12102024 12/18/2024 MAINTENANCE WORKER 11/1…061-4300-6362 45.09 AT&T MOBILITY 287319629759X12102024 12/18/2024 MAINTENANCE WORKER 2 11… 061-4300-6362 45.09 AT&T MOBILITY 287319629759X12102024 12/18/2024 MAINTENANCE WORKER 11/1…061-4300-6362 30.73 Vendor ATTMOBILITY - AT&T MOBILITY Total: 1,323.99
Vendor: AT&T 60197_5014 - AT&T
AT&T 256795714 12.10.24 12/18/2024 256795714 12.10.24 INTERNE… 061-1480-6362 117.70 Vendor AT&T 60197_5014 - AT&T Total: 117.70
Vendor: AT&T PO9011 - AT&T
AT&T 000022715165 12/18/2024 PURISSIMA/ELENA PUMP STA… 051-4800-6362 30.67 AT&T 000022715168 12/18/2024 ALTERNATE EOC - FIRE STATI… 011-2100-6362 93.58 AT&T 000022715169 12/18/2024 HERITAGE HOUSE ALARM 11/… 011-2100-6362 32.75 AT&T 000022715170 12/18/2024 26379 FREMONT ROAD 11/10… 061-1480-6362 1,074.79 AT&T 000022715171 12/18/2024 26379 FREMONT ROAD - CH… 061-1480-6362 32.23 AT&T 000022715172 12/18/2024 WWB FIRE ALARM LINE 011-5300-6362 62.91 AT&T 000022715173 12/18/2024 HERITAGE HOUSE DSL SVC 11… 011-2100-6362 63.94 AT&T 000022715174 12/18/2024 26379 FREMONT ROAD 11/10… 061-1480-6362 345.11 AT&T 000022715175 12/18/2024 HERITAGE HOUSE OES NEW P… 011-2100-6362 62.91 AT&T 000022715176 12/18/2024 12863 LA CRESTA EOC HAM R… 011-2100-6362 34.72 AT&T 000022715177 12/18/2024 28002 PURISSIMA RD - SANIT… 051-4800-6362 32.75 AT&T 000022715178 12/18/2024 27400 PURISSIMA RD - CORP … 061-4300-6362 63.94 AT&T 000022715648 12/18/2024 O'KEEFE LN AT NORMANDY LN…051-4800-6362 33.61 Vendor AT&T PO9011 - AT&T Total: 1,963.91
Vendor: ATLASTRILLO01 - ATLAS TRILLO
ATLAS TRILLO BLD24-0225 12/18/2024 BLD24-0225-ONLINE SUBMITT…011-0000-2002 12.60 Vendor ATLASTRILLO01 - ATLAS TRILLO Total: 12.60
Vendor: BAYSCAPE01 - BAYSCAPE MANAGEMENT, INC.

BAYSCAPE MANAGEMENT, IN… 39557 12/05/2024 Landscape Maintenance Svcs 011-4740-6125 2,500.00 BAYSCAPE MANAGEMENT, IN… 39557 12/05/2024 Landscape Maintenance Svcs 011-4740-6125 450.00 BAYSCAPE MANAGEMENT, IN… 39557 12/05/2024 Landscape Maintenance Svcs 011-4740-6125 1,750.00 BAYSCAPE MANAGEMENT, IN… 39557 12/05/2024 Landscape Maintenance Svcs 011-5100-6122 850.00 BAYSCAPE MANAGEMENT, IN… 39557 12/05/2024 Landscape Maintenance Svcs 011-5300-6122 1,750.00 BAYSCAPE MANAGEMENT, IN… 39557 12/05/2024 Landscape Maintenance Svcs 061-1480-6122 1,250.00 Vendor BAYSCAPE01 - BAYSCAPE MANAGEMENT, INC. Total: 8,550.00 Vendor: BEAR95002 - BEAR ELECTRICAL SOLUTIONS, INC.

BEAR ELECTRICAL SOLUTIONS, …24699 12/05/2024 TRAFFIC SIGNAL MAINT SERVI… 011-4600-6146 551.25 Vendor BEAR95002 - BEAR ELECTRICAL SOLUTIONS, INC. Total: 551.25 Vendor: BELLECCI01 - BELLECCI & ASSOCIATES INC
BELLECCI & ASSOCIATES INC 200065.00 - 0000028 12/05/2024 UUD AROUND THE EL MONTE… 041-6900-6206 84,020.85 Vendor BELLECCI01 - BELLECCI & ASSOCIATES INC Total: 84,020.85 Vendor: BENEST01 - BENEST, FRANK
BENEST, FRANK 12.3.24 12/05/2024 PROF. SVCS ASSISTING MGMT… 011-1100-6209 7,200.00 Vendor BENEST01 - BENEST, FRANK Total: 7,200.00
Vendor: BRUNNER01 - BRUNNER, KEREN
BRUNNER, KEREN 12.3.24 12/05/2024 STRENGTHENING CIVILITY-W… 011-1300-6309 60.00 Vendor BRUNNER01 - BRUNNER, KEREN Total: 60.00

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 3 of 15
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: CALIFORNIA94618 - CALIFORNIA MUNICIPAL STATISTICS INC CALIFORNIA MUNICIPAL STATI…24112101 12/05/2024 DIRECT AND OVERLAPPING D… 011-1400-6203 550.00 Vendor CALIFORNIA94618 - CALIFORNIA MUNICIPAL STATISTICS INC Total: 550.00 Vendor: CALWATER95194 - CALIFORNIA WATER SERVICE CO.

CALIFORNIA WATER SERVICE … 8540713534 12.2.24 12/05/2024 SVCS W EDITH AVE/W FREM… 011-5100-6364 58.45 Vendor CALWATER95194 - CALIFORNIA WATER SERVICE CO. Total: 58.45 Vendor: CAL01 - CAL-LINE EQUIPMENT, INC.

CAL-LINE EQUIPMENT, INC. 04023343 12/19/2024 EQUIPT PARTS 11/6/24 061-4300-6351 80.43 Vendor CAL01 - CAL-LINE EQUIPMENT, INC. Total: 80.43
Vendor: CHEF94022 - CHEF CHU'S
CHEF CHU'S 12.11.24 12/18/2024 ANNUAL REOGANIZATION ME…011-1100-6308 6,000.00 Vendor CHEF94022 - CHEF CHU'S Total: 6,000.00
Vendor: CHESLER01 - CHESLER CONSTRUCTION
CHESLER CONSTRUCTION EP24-0050 12/19/2024 REFUND DEPOSIT - 23600 RAV…011-0000-2301 515.00 CHESLER CONSTRUCTION EP24-0050 12/19/2024 REFUND DEPOSIT - 23600 RAV…011-0000-2303 2,000.00 Vendor CHESLER01 - CHESLER CONSTRUCTION Total: 2,515.00 Vendor: CHEVRON28272 - CHEVRON AND TEXACO CARD SERVICES CHEVRON AND TEXACO CARD …101451383 12/18/2024 FLEET FUEL FOR 11/8/24-12/6…061-4400-6342 423.65 Vendor CHEVRON28272 - CHEVRON AND TEXACO CARD SERVICES Total: 423.65 Vendor: CINNAMON01 - CINNAMON ENERGY SYSTEM
CINNAMON ENERGY SYSTEM BDL24-0176 12/18/2024 BDL24-0176-OVER CHRG BO32…011-0000-2002 4.48 Vendor CINNAMON01 - CINNAMON ENERGY SYSTEM Total: 4.48
Vendor: CINTAS45263 - CINTAS
CINTAS OF44835230 12/19/2024 ANNUAL FIRE EXTINGUISER IN…061-4300-6118 2,342.41 CINTAS OF44835231 12/19/2024 ANNUAL FIRE EXTINGUISHER … 061-1480-6118 354.71 CINTAS OF44835232 12/19/2024 ANNUAL FIRE EXTINGUISHER … 011-5100-6118 1,468.21 Vendor CINTAS45263 - CINTAS Total: 4,165.33
Vendor: CINTAS- UNIFORMS - CINTAS CORPORATION
CINTAS CORPORATION 4212980363 12/05/2024 HOUSEKEEPING SUPPLIES 11/… 061-1480-6123 131.93 CINTAS CORPORATION 4212980363 12/05/2024 UNIFORMS SUPPLIES 11/27/24 061-4300-6324 109.60 CINTAS CORPORATION 4213674925 12/18/2024 HOUSEKEEPING SUPPLIES 12/…061-1480-6123 131.93 CINTAS CORPORATION 4213674925 12/18/2024 UNIFORMS SUPPLIES 12/5/24 061-4300-6324 109.60 CINTAS CORPORATION 4214387037 12/19/2024 HOUSEKEEPING SUPPLIES 12/… 061-1480-6123 184.91 CINTAS CORPORATION 4214387037 12/19/2024 UNIFORMS SUPPLIES 12/12/24 061-4300-6324 132.79 Vendor CINTAS- UNIFORMS - CINTAS CORPORATION Total: 800.76 Vendor: CITIBANK_VISA - CITI CARDS
CITI CARDS 5606 12.31.24 12/31/2024 BANK CHARGE 011-1400-6331 2.96 CITI CARDS 5606 12.31.24 12/31/2024 BANK CHARGE 011-1400-6331 41.00 CITI CARDS 5606 12.31.24 12/31/2024 COSTCO COSTUME GAME NI… 011-1700-6209 139.93 CITI CARDS 5606 12.31.24 12/31/2024 COSTCO HOLLOWEEN @TOW… 061-1480-6361 47.97 Vendor CITIBANK_VISA - CITI CARDS Total: 231.86
Vendor: LAP&R94022 - CITY OF LOS ALTOS RECREATION DEPT
CITY OF LOS ALTOS RECREATI… 11.21.24 12/05/2024 MAIN STREET BANNER PATH… 011-4120-6361 389.00 Vendor LAP&R94022 - CITY OF LOS ALTOS RECREATION DEPT Total: 389.00 Vendor: CITYOFSUNNYVALE01 - CITY OF SUNNYVALE
CITY OF SUNNYVALE 11.26.24 12/18/2024 SANTA CLARA COUNTY GRAND…041-6900-6199 52,751.00 Vendor CITYOFSUNNYVALE01 - CITY OF SUNNYVALE Total: 52,751.00 Vendor: CLEAN01 - CLEAN ROOFING
CLEAN ROOFING BLD24-0216 12/18/2024 BLD24-0216 OVER PAY- BO32 …011-0000-2002 16.80 Vendor CLEAN01 - CLEAN ROOFING Total: 16.80
Vendor: CLERKBASE01 - CLERKBASE
CLERKBASE 12625 12/18/2024 OB2 10K ANNUAL SUBSCRIPTI… 011-1300-6309 1,400.00 Vendor CLERKBASE01 - CLERKBASE Total: 1,400.00

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 4 of 15
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: COMCAST19380 - COMCAST BUSINESS
COMCAST BUSINESS 225425923 12/18/2024 #980056897 CALNET 12.1.24 … 061-1480-6310 951.22 Vendor COMCAST19380 - COMCAST BUSINESS Total: 951.22
Vendor: COMCAST LOCAL ACCTS - COMCAST
COMCAST 0017176 12.3.24 12/18/2024 8155200160017176 CABLE& I… 061-1480-6310 216.24 Vendor COMCAST LOCAL ACCTS - COMCAST Total: 216.24
Vendor: CORELOGIC75284 - CORELOGIC INFORMATION SOLUTIONS, INC.

CORELOGIC INFORMATION SO…30744735 12/05/2024 RQ2 FLAT FEE LIMITED PACKA… 011-3100-6338 106.09 CORELOGIC INFORMATION SO…30744735 12/05/2024 RQ2 FLAT FEE LIMITED PACKA… 011-3200-6338 106.09 CORELOGIC INFORMATION SO…30748741 12/18/2024 RQ2 FEE FEE LIMTED PACKAGE…011-3100-6338 106.09 CORELOGIC INFORMATION SO…30748741 12/18/2024 RQ2 FEE FEE LIMTED PACKAGE…011-3200-6338 106.09 Vendor CORELOGIC75284 - CORELOGIC INFORMATION SOLUTIONS, INC. Total: 424.36 Vendor: CORODATA90084 - CORODATA SHREDDING INC.

CORODATA SHREDDING INC. DN 1501524 12/18/2024 1 21 GALLON CONSOLE (24' T… 061-1480-6323 67.66 Vendor CORODATA90084 - CORODATA SHREDDING INC. Total: 67.66 Vendor: COTTON95030 - COTTON SHIRES & ASSOC, INC.

COTTON SHIRES & ASSOC, INC. 1124196 12/05/2024 11/2024 ADMIN FEE GEO TEC… 011-0000-2301 143.50 COTTON SHIRES & ASSOC, INC. 1124196 12/05/2024 11/2024 BILLABLE GEO TECH-… 011-0000-2301 1,435.00 COTTON SHIRES & ASSOC, INC. 1124196 12/05/2024 11/2024 RECOG ADMIN FEE G…011-0000-4685 -143.50 COTTON SHIRES & ASSOC, INC. 1124196 12/05/2024 11/2024 PASSTHRU REV GEO … 011-3100-4707 -1,435.00 COTTON SHIRES & ASSOC, INC. 1124196 12/05/2024 11/2024 PASSTHRU EXP- GEO …011-3100-6178 1,435.00 COTTON SHIRES & ASSOC, INC. 1124197 12/05/2024 11/2024 BILLABLE GEO TECH-… 011-0000-2301 1,947.50 COTTON SHIRES & ASSOC, INC. 1124197 12/05/2024 11/2024 ADMIN FEE GEO TE… 011-0000-2301 194.75 COTTON SHIRES & ASSOC, INC. 1124197 12/05/2024 11/2024 RECOG ADMIN FEE … 011-0000-4685 -194.75 COTTON SHIRES & ASSOC, INC. 1124197 12/05/2024 11/2024 PASSTHRU REV GEO …011-3100-4707 -1,947.50 COTTON SHIRES & ASSOC, INC. 1124197 12/05/2024 11/2024 PASSTHRU EXP GEO … 011-3100-6178 1,947.50 Vendor COTTON95030 - COTTON SHIRES & ASSOC, INC. Total: 3,382.50 Vendor: SCCENVIRONMENTAL - COUNTY OF SANTA CLARA - DEPT. OF ENVIRONMENTAL HEALTH COUNTY OF SANTA CLARA - D… IN1332360 12/05/2024 STATE HAZARDS MATERIAL SE…011-3300-6138 678.00 Vendor SCCENVIRONMENTAL - COUNTY OF SANTA CLARA - DEPT. OF ENVIRONMENTAL HEALTH Total: 678.00 Vendor: CSG94404 - CSG CONSULTANTS INC
CSG CONSULTANTS INC 58491 12/05/2024 CODE ENFORCEMENT 8/31/24…011-3120-6111 8,757.50 CSG CONSULTANTS INC 58491 12/05/2024 BUILDING INSPECTION 8/31/2…011-3200-6199 14,688.00 CSG CONSULTANTS INC 59091 12/05/2024 CODE ENFORCEMENT 011-3120-6111 8,927.00 CSG CONSULTANTS INC 59091 12/05/2024 BUILDING INSPECTION 011-3200-6199 13,824.00 CSG CONSULTANTS INC B241982 12/05/2024 BUILDING PLAN REVIEW SERV… 011-3200-6114 31,615.59 Vendor CSG94404 - CSG CONSULTANTS INC Total: 77,812.09
Vendor: CUSTOM95660 - CUSTOM COPPER AND SHEETMETAL ROOFING CUSTOM COPPER AND SHEE… BLD24-0199 12/18/2024 BLD24-0199-OVERCHARGE (B… 011-0000-2002 37.77 Vendor CUSTOM95660 - CUSTOM COPPER AND SHEETMETAL ROOFING Total: 37.77 Vendor: DAILY94301 - DAILY POST
DAILY POST 89815 12/05/2024 6X15 REZONE_NOTICE TOWN …041-6900-6199 1,125.00 DAILY POST 89816 12/05/2024 3X3.5 WORKSHOP 9/30/24 041-6900-6199 126.00 DAILY POST 89817 12/05/2024 4X7 HOUSING ELEMENT 9/30/…041-6900-6199 350.00 DAILY POST 90150 12/05/2024 10.9 HOUSING ELEMENT 10/3… 041-6900-6199 281.25 Vendor DAILY94301 - DAILY POST Total: 1,882.25
Vendor: DELRIO94063 - DEL RIO ROOFING COMPANY INC
DEL RIO ROOFING COMPANY … BLD24-0190 12/18/2024 BLD24-0190 OVER CHARGE (B… 011-0000-2002 10.95 Vendor DELRIO94063 - DEL RIO ROOFING COMPANY INC Total: 10.95 Vendor: DIAMOND01 - DIAMOND QUALITY PRINTING INC.

DIAMOND QUALITY PRINTING …41516 12/05/2024 24X36 FULL COLOR ON VINL &…041-6900-6199 978.91 DIAMOND QUALITY PRINTING …41608 12/05/2024 HOUSING ELEMENT POST CA… 041-6900-6199 2,083.25 DIAMOND QUALITY PRINTING …41657 12/18/2024 LOS ALTOS HILLS QTRLY NEWS…011-1100-6199 4,205.82 Vendor DIAMOND01 - DIAMOND QUALITY PRINTING INC. Total: 7,267.98

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 5 of 15
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: CORBETT01 - DKG CONSULTANTS, LLC
DKG CONSULTANTS, LLC 2024-73 12/05/2024 CONSULTANTS SERVICES 11/1… 011-3100-6111 5,631.08 Vendor CORBETT01 - DKG CONSULTANTS, LLC Total: 5,631.08 Vendor: EATON03 - EATON AND ASSOCIATES
EATON AND ASSOCIATES 91192 12/05/2024 UPGRADE WORKSTATIONS&L… 041-6900-6613 17,780.00 EATON AND ASSOCIATES 91146 12/18/2024 Monthly IT Managed Services 061-1480-6111 13,540.00 Vendor EATON03 - EATON AND ASSOCIATES Total: 31,320.00
Vendor: SIGNIFICANT95125 - ECAPITAL COMMERCIAL FINANCE GROUP ECAPITAL COMMERCIAL FINA… 116378 12/05/2024 HOUSEKEEPING SUPPLIES 11/… 061-1480-6123 558.38 ECAPITAL COMMERCIAL FINA… 116458 12/05/2024 MULTIPURPOSE ROOM 12/24 011-5100-6123 195.00 ECAPITAL COMMERCIAL FINA… 116458 12/05/2024 LITTLE LEAGUE 12/24 011-5100-6123 435.00 ECAPITAL COMMERCIAL FINA… 116458 12/05/2024 WESTWIND BARN 12/24 011-5300-6123 430.00 ECAPITAL COMMERCIAL FINA… 116458 12/05/2024 PARKS & RECREATION BUILDI… 061-1480-6123 270.00 ECAPITAL COMMERCIAL FINA… 116458 12/05/2024 LOS ALTOS HILLS CITY HALL 12…061-1480-6123 1,920.00 ECAPITAL COMMERCIAL FINA… 116458 12/05/2024 CORPORATION YARD 12/24 061-4300-6123 450.00 ECAPITAL COMMERCIAL FINA… 116343 12/18/2024 LITTLE LEAGUE 011-5100-6123 435.00 ECAPITAL COMMERCIAL FINA… 116343 12/18/2024 MULITPURPOSE ROOM 011-5100-6123 195.00 ECAPITAL COMMERCIAL FINA… 116343 12/18/2024 WESTWIND BARN 011-5300-6123 430.00 ECAPITAL COMMERCIAL FINA… 116343 12/18/2024 LOS ALTOS CITY HALL 061-1480-6123 1,920.00 ECAPITAL COMMERCIAL FINA… 116343 12/18/2024 PARKS & RECREATION BUILDI… 061-1480-6123 270.00 ECAPITAL COMMERCIAL FINA… 116343 12/18/2024 CORPORATION YARD 061-4300-6123 450.00 ECAPITAL COMMERCIAL FINA… 116536 12/19/2024 CASE 2 PLY TISSUE&MULITIFO… 061-1480-6123 366.40 ECAPITAL COMMERCIAL FINA… 116541 12/19/2024 8-SOFPULL;2PLY BTH TIS;MUL… 061-1480-6123 734.46 Vendor SIGNIFICANT95125 - ECAPITAL COMMERCIAL FINANCE GROUP Total: 9,059.24 Vendor: EOA94612 - EOA, INC.

EOA, INC. LAH001-1024 12/18/2024 10/2024 ADMIN FEE CONTRA… 011-0000-2301 166.40 EOA, INC. LAH001-1024 12/18/2024 10/2024 BILLABLE CONTRACT …011-0000-2301 1,664.00 EOA, INC. LAH001-1024 12/18/2024 10/2024 RECOG ADMIN FEE C… 011-0000-4685 -166.40 EOA, INC. LAH001-1024 12/18/2024 10/2024 PASSTHRU REV CON… 011-3300-4705 -1,664.00 EOA, INC. LAH001-1024 12/18/2024 10/2024 PASSTHRU EXP CON… 011-3300-6179 1,664.00 Vendor EOA94612 - EOA, INC. Total: 1,664.00
Vendor: ADT01 - EVERON
EVERON 157182987 12/05/2024 LAH CITY HALL SVCS 12/1/24-… 061-1480-6118 169.71 Vendor ADT01 - EVERON Total: 169.71
Vendor: FEDEX - FEDERAL EXPRESS CORP.

FEDERAL EXPRESS CORP. 8-564-15419 12/18/2024 OVERNIGHT PYMT TFOR CLIE… 011-1400-6303 68.30 FEDERAL EXPRESS CORP. 9-677-92045 12/18/2024 POSTAGE LATE FEE 7/12/24 011-1400-6303 13.22 FEDERAL EXPRESS CORP. 9-680-34359 12/18/2024 FEDEX LATE FEE 7/19/24 011-1400-6303 5.46 Vendor FEDEX - FEDERAL EXPRESS CORP. Total: 86.98
Vendor: ZERUNYAN01 - FRANK ZERUNYAN
FRANK ZERUNYAN 11.23.24 12/05/2024 HYATT PLACE SAN JOSE AIRP… 041-6900-6199 231.90 FRANK ZERUNYAN 11.23.24 12/05/2024 BUDGET RENTAL CAR 11/18 - … 041-6900-6199 77.68 FRANK ZERUNYAN 11.23.24 12/05/2024 LAX AIRPORT PARKING 11/8-1… 041-6900-6199 58.99 FRANK ZERUNYAN 11.23.24 12/05/2024 LYFT TRANSPORTATION 11/18 …041-6900-6199 20.73 FRANK ZERUNYAN 11.23.24 12/05/2024 DELTA AIRFAIR 11/18 - 19/24 041-6900-6199 326.95 Vendor ZERUNYAN01 - FRANK ZERUNYAN Total: 716.25
Vendor: GARDENLAND95008 - GARDENLAND CENTER INC.

GARDENLAND CENTER INC. 1141093 12/18/2024 OIL SUPPLIES FOR TOOLS 12/5…061-4300-6351 92.69 Vendor GARDENLAND95008 - GARDENLAND CENTER INC. Total: 92.69 Vendor: GRAINGER60038 - GRAINGER
GRAINGER 9307224585 12/18/2024 LINE MARKER PAINT 11/6/24 061-4300-6399 69.92 Vendor GRAINGER60038 - GRAINGER Total: 69.92
Vendor: GREEN95112 - GREENWASTE RECOVERY INC
GREENWASTE RECOVERY INC 0007825562 12/18/2024 ADJUSTERS-2 PARCEL DRIVE … 011-1200-6398 1,320.33 GREENWASTE RECOVERY INC 034137 12/18/2024 MRF-OTHER & YARWASTE NO… 011-0000-1110 5,646.21 Vendor GREEN95112 - GREENWASTE RECOVERY INC Total: 6,966.54

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 6 of 15
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: HARPER02 - HARPER, KEVIN W.

HARPER, KEVIN W. 12.6.24 12/18/2024 PROF. SVCS FOR NGOM FOR … 011-1400-6199 15,108.00 Vendor HARPER02 - HARPER, KEVIN W. Total: 15,108.00
Vendor: HDL91765 - HDL COREN & CONE
HDL COREN & CONE SIN045634 12/18/2024 2023-24 ACFR STATISTICAL PA…011-1400-6199 795.00 Vendor HDL91765 - HDL COREN & CONE Total: 795.00
Vendor: HORIZON01 - HORIZON DISTRIBUTORS INC.

HORIZON DISTRIBUTORS INC. 1N612022 12/05/2024 IRRIGATION REPAIRS FOR PUR…011-5100-6122 262.41 Vendor HORIZON01 - HORIZON DISTRIBUTORS INC. Total: 262.41 Vendor: IGMM5R3V3 - IGM TECHNOLOGY CORP
IGM TECHNOLOGY CORP 1862 12/05/2024 TOWN OF LAH BUDGETING C… 011-1400-6313 42,000.00 Vendor IGMM5R3V3 - IGM TECHNOLOGY CORP Total: 42,000.00 Vendor: IIMC91730 - INTERNATIONAL INSTITUTE OF MUNICIPAL CLERKS INTERNATIONAL INSTITUTE OF…#ID 41019 12/05/2024 ANNUAL MEMEBERSHIP FEE 1…011-1300-6302 330.00 Vendor IIMC91730 - INTERNATIONAL INSTITUTE OF MUNICIPAL CLERKS Total: 330.00 Vendor: JU01 - JU, ANNIE
JU, ANNIE 12/16/24 12/18/2024 NEIGHBORHOOD WATCH FO… 011-2100-6399 204.78 Vendor JU01 - JU, ANNIE Total: 204.78
Vendor: LAHARDWARE94022 - LOS ALTOS HARDWARE INC
LOS ALTOS HARDWARE INC 30825/1 12/05/2024 LUMP HARDWOOD CHRCOAL …061-4300-6398 18.54 LOS ALTOS HARDWARE INC 30946/1 12/05/2024 CORP YARD ELECTRICAL SOCK… 061-4300-6118 72.00 LOS ALTOS HARDWARE INC 31149/1 12/18/2024 SUPPLIES FOR CORP YARD OP… 061-4300-6399 319.72 LOS ALTOS HARDWARE INC 31293/1 12/18/2024 CAR WASH ARMOR ALL LIQUID…061-4400-6399 35.98 LOS ALTOS HARDWARE INC 31298/1 12/18/2024 KEYS FOR THE HERITAGE HOU… 061-4300-6398 15.01 Vendor LAHARDWARE94022 - LOS ALTOS HARDWARE INC Total: 461.25 Vendor: CRIER94022 - LOS ALTOS TOWN CRIER
LOS ALTOS TOWN CRIER 11.22.24 12/05/2024 SUBSCRIPTION RENEWAL 1/1/…011-1200-6312 60.00 LOS ALTOS TOWN CRIER 71937 12/05/2024 LAH HOUSING ELEMNT&MULT…041-6900-6199 816.00 LOS ALTOS TOWN CRIER 72109 12/05/2024 LAH TOWN HOUSING ELEMEN…041-6900-6199 652.50 Vendor CRIER94022 - LOS ALTOS TOWN CRIER Total: 1,528.50 Vendor: LYNX95010 - LYNX TECHNOLOGIES, INC.

LYNX TECHNOLOGIES, INC. 10292 12/05/2024 OVERHEAD PROJ MANAGEM… 011-3100-6313 618.75 LYNX TECHNOLOGIES, INC. 10292 12/05/2024 RESOLVED ISSUE WITH PRIVA… 011-4600-6199 112.50 LYNX TECHNOLOGIES, INC. 10292 12/05/2024 SEWER UPDATES 051-4800-6199 168.75 Vendor LYNX95010 - LYNX TECHNOLOGIES, INC. Total: 900.00 Vendor: MACLEOD WATTS - MACLEOD WATTS, INC
MACLEOD WATTS, INC 112224TLAH 12/05/2024 ACTUARIAL VALUATION OF O… 011-1400-6203 9,050.00 Vendor MACLEOD WATTS - MACLEOD WATTS, INC Total: 9,050.00 Vendor: STETA01 - MAHIC, EMINA
MAHIC, EMINA 12.2.24 12/18/2024 BARN LIGHTING (CC DECLINED…011-4120-6361 148.34 MAHIC, EMINA 12.2.24 12/18/2024 MANAGEMENT MEETING 061-1480-6361 44.37 Vendor STETA01 - MAHIC, EMINA Total: 192.71
Vendor: TANG02 - MARCUS TANG
MARCUS TANG 12/15/24 12/19/2024 LOGO DESIGN 12/15/24 046-6900-6199 80.00 Vendor TANG02 - MARCUS TANG Total: 80.00
Vendor: METRO94002 - METRO MOBILE COMMUNICATIONS INC.

METRO MOBILE COMMUNICA…48926 12/05/2024 8 PORTABLE RADIOS SERVICES…061-4300-6362 168.00 Vendor METRO94002 - METRO MOBILE COMMUNICATIONS INC. Total: 168.00 Vendor: METLIFE64180 - METROPOLITAN LIFE INSURANCE COMPANY METROPOLITAN LIFE INSURA… TS05957300 001 12 15 24 12/18/2024 EMPLOYEES DENTAL I& VISION…061-0000-2233 5,486.94 Vendor METLIFE64180 - METROPOLITAN LIFE INSURANCE COMPANY Total: 5,486.94 Vendor: METROPOLITAN94043 - METROPOLITAN PLANNING GROUP INC METROPOLITAN PLANNING G… 2004723 12/05/2024 9/2024 BILLABLE LEGAL SVCS-… 011-0000-2301 195.00 METROPOLITAN PLANNING G… 2004723 12/05/2024 9/2024 ADMIN FEE LEGAL SVC…011-0000-2301 19.50 METROPOLITAN PLANNING G… 2004723 12/05/2024 9/2024 RECOG ADMIN FEE LE… 011-0000-4685 -19.50 METROPOLITAN PLANNING G… 2004723 12/05/2024 9/2024 PASSTHRU LEGAL SVCS…011-3100-4702 -195.00

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 7 of 15
Vendor Name Payable Number Post Date Description (Item) Account Number Amount METROPOLITAN PLANNING G… 2004723 12/05/2024 9/2024 PASSTHRU EXP LEGAL …011-3100-6177 195.00 METROPOLITAN PLANNING G… 2004723 12/05/2024 PROFESSIONAL SERVICES 9/30…041-6900-6199 438.75 METROPOLITAN PLANNING G… 2004783 12/05/2024 10/2024 BILLABLE LEGAL SVCS…011-0000-2301 243.75 METROPOLITAN PLANNING G… 2004783 12/05/2024 10/2024 ADMIN FEE LEGAL S… 011-0000-2301 24.38 METROPOLITAN PLANNING G… 2004783 12/05/2024 10/2024 RECOG ADMIN FEE L… 011-0000-4685 -24.38 METROPOLITAN PLANNING G… 2004783 12/05/2024 10/2024 PASSTHRU REV LEGAL…011-3100-4702 -243.75 METROPOLITAN PLANNING G… 2004783 12/05/2024 PROFESSIONAL SERVICES 10/3…011-3100-6111 536.25 METROPOLITAN PLANNING G… 2004783 12/05/2024 10/2024 PASSTHRU EXP LEGAL…011-3100-6177 243.75 Vendor METROPOLITAN94043 - METROPOLITAN PLANNING GROUP INC Total: 1,413.75 Vendor: MICHAEL01 - MICHAEL BAKER INTERNATIONAL INC.

MICHAEL BAKER INTERNATIO… 1231553 12/05/2024 Housing Element -New MultiF… 041-6900-6199 16,178.07 Vendor MICHAEL01 - MICHAEL BAKER INTERNATIONAL INC. Total: 16,178.07 Vendor: MCCONNELL01 - MICHAEL V MCCONNELL
MICHAEL V MCCONNELL BLD23-0083 12/18/2024 ELECTRIC HEAT PUMP WATER… 011-3200-6199 1,000.00 Vendor MCCONNELL01 - MICHAEL V MCCONNELL Total: 1,000.00 Vendor: MISSION01 - MissionSquare
MissionSquare PLAN 100276 11.29.24 12/05/2024 PLAN 100276 11.29.24 401 ER…061-0000-2204 3,094.62 MissionSquare PLAN 100316 11.29.24 12/05/2024 PLAN 100316 11.29.24 410E-4…061-0000-2204 6,812.61 MissionSquare PLAN 304465 11.29.24 12/05/2024 PLAN 304465 11.29.24 ICMA … 061-0000-2204 8,475.55 MissionSquare PLAN 100276 12.13.24 12/18/2024 PLAN 100276 12.13.24 061-0000-2204 3,094.62 MissionSquare PLAN 100316 12.13.24 12/18/2024 40E-401A EE 41A ER MATCH 061-0000-2204 6,511.43 MissionSquare PLAN 304465 12.13.24 12/18/2024 PLAN 304465 12.13.24 ICMA … 061-0000-2204 8,355.35 Vendor MISSION01 - MissionSquare Total: 36,344.18
Vendor: THE MERCURYNEWS01 - MNG PARTNERSHIP HOLDING LLC MNG PARTNERSHIP HOLDING …#5612205 9.17.24 12/18/2024 SUNDAY ONLY RENEWAL SUB… 011-1200-6312 47.23 Vendor THE MERCURYNEWS01 - MNG PARTNERSHIP HOLDING LLC Total: 47.23 Vendor: MUNICIPAL95818 - MUNICIPAL MANAGEMENT ASSOCIATION OF NORTHERN CALIFORNIA MUNICIPAL MANAGEMENT A… 11366 12/18/2024 2025 UPNEXT 12/11/24 011-1200-6308 3,500.00 Vendor MUNICIPAL95818 - MUNICIPAL MANAGEMENT ASSOCIATION OF NORTHERN CALIFORNIA Total: 3,500.00 Vendor: TAMAS94022 - NEMETH TAMAS ET AL ZHANG XI
NEMETH TAMAS ET AL ZHANG…BLD22-0613 12/19/2024 REFUND DEPOSIT-27446 BLAC…011-0000-2303 2,700.00 NEMETH TAMAS ET AL ZHANG…BLD22-0613 12/19/2024 REFUND DEPOSIT-27446 BLAC…011-0000-2303 20,000.00 NEMETH TAMAS ET AL ZHANG…BLD22-0613 12/19/2024 REFUND DEPOSIT-27446 BLAC…011-0000-2303 40,000.00 Vendor TAMAS94022 - NEMETH TAMAS ET AL ZHANG XI Total: 62,700.00 Vendor: OAK95031 - OAK ALARM CO
OAK ALARM CO 29320 12/18/2024 OKEEFE PUMP STATION ALA… 051-4800-6118 75.00 Vendor OAK95031 - OAK ALARM CO Total: 75.00
Vendor: OCCUPATIONAL01 - OCCUPATIONAL HEALTH CENTERS OF CALIFORNIA, A MEDICAL CORPORATION OCCUPATIONAL HEALTH CEN… 85164192 12/18/2024 WAHID BISSADA PHYS EXAM … 011-3300-6332 126.00 Vendor OCCUPATIONAL01 - OCCUPATIONAL HEALTH CENTERS OF CALIFORNIA, A MEDICAL CORPORATION Total: 126.00 Vendor: OGRADY94043 - O'GRADY PAVING INC
O'GRADY PAVING INC 8143 12/18/2024 24092-2024 PAVEMENT REHA… 046-6900-6151 62,453.42 Vendor OGRADY94043 - O'GRADY PAVING INC Total: 62,453.42 Vendor: MENON01 - P.K. MENON
P.K. MENON 12/9/2024 12/18/2024 HAM BAKE HOLIDAY PARTY 12…011-1700-6209 125.24 Vendor MENON01 - P.K. MENON Total: 125.24
Vendor: PACIFIC92806 - PACIFIC PRODUCTS AND SERVICES LLC PACIFIC PRODUCTS AND SERV… 34715 12/05/2024 CIP STREET SIGN 9/26/24 041-6900-6341 2,116.58 PACIFIC PRODUCTS AND SERV… 35054 12/05/2024 CIP SIGN PROJECT 11/18/24 041-6900-6341 2,469.99 PACIFIC PRODUCTS AND SERV… 35061 12/05/2024 CIPS SNS REPLACEMENT PROJ… 041-6900-6341 2,420.39 PACIFIC PRODUCTS AND SERV… 35062 12/05/2024 CIP SIGN PROJECT 11/18/24 041-6900-6341 1,416.93 Vendor PACIFIC92806 - PACIFIC PRODUCTS AND SERVICES LLC Total: 8,423.89 Vendor: PALAMERICAN33716 - PALAMERICAN SECURITY (SILICON VALLEY) INC PALAMERICAN SECURITY (SILI… 136357 12/05/2024 Residential Patrol Services 011-2100-6199 23,881.77 PALAMERICAN SECURITY (SILI… 137989 12/18/2024 Residential Patrol Services 011-2100-6199 24,097.50 Vendor PALAMERICAN33716 - PALAMERICAN SECURITY (SILICON VALLEY) INC Total: 47,979.27

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 8 of 15
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: PAPE97208 - PAPE MACHINERY, INC.

PAPE MACHINERY, INC. 15783409 12/18/2024 PARTS FOR MACHINERY @CO… 061-4300-6351 66.04 Vendor PAPE97208 - PAPE MACHINERY, INC. Total: 66.04
Vendor: PARIVASH03 - PARIVASH EXCHANGE
PARIVASH EXCHANGE BLD18-0331 12/19/2024 REFUND DEPOSIT - 27447 ED… 011-0000-2303 14,507.51 PARIVASH EXCHANGE BLD18-0331-R 01/07/2025 REFUND DEPOSIT - 27447 ED… 011-0000-2303 -14,507.51 PARIVASH EXCHANGE BLD19-0294 12/19/2024 REFUND DEPOSIT - 27447 ED… 011-0000-2303 630.00 PARIVASH EXCHANGE BLD19-0294-R 01/07/2025 REFUND DEPOSIT - 27447 ED… 011-0000-2303 -630.00 Vendor PARIVASH03 - PARIVASH EXCHANGE Total: 0.00
Vendor: PHOENIX02 - PHOENIX ELECTRIC COMPANY
PHOENIX ELECTRIC COMPANY 1210_UB2_SEPT24_R3 12/05/2024 UNITARY BILLING #4 9/30/24 … 041-6900-6622 603,802.48 PHOENIX ELECTRIC COMPANY 1210_UB3_OCT24 12/05/2024 UNITARY BILLING #5 (EL MON… 041-6900-6622 989,687.97 Vendor PHOENIX02 - PHOENIX ELECTRIC COMPANY Total: 1,593,490.45 Vendor: PINPOINT01 - PINPOINT TALENT, LLC
PINPOINT TALENT, LLC 8574 12/05/2024 PPT TEMP SERVICES MSIULA… 011-1400-6111 1,831.50 PINPOINT TALENT, LLC 8597 12/05/2024 PPT TEMP SERVICES MSIULA… 011-1400-6111 1,039.50 PINPOINT TALENT, LLC 8619 12/18/2024 PPT TEMP SVCS MSIULANGAP… 011-1400-6111 1,980.00 PINPOINT TALENT, LLC 8638 12/18/2024 PPT TEMP SVCS MSIULANGAP… 011-1400-6111 1,905.75 Vendor PINPOINT01 - PINPOINT TALENT, LLC Total: 6,756.75 Vendor: PITNEY15250 - PITNEY BOWES INC
PITNEY BOWES INC 1096-1328 12.13.24 12/18/2024 8000-9000-1096-1328 POSTA… 061-1480-6303 401.00 Vendor PITNEY15250 - PITNEY BOWES INC Total: 401.00
Vendor: V0980 - PURISSIMA HILLS WATER
PURISSIMA HILLS WATER NOV2024-2493 12/18/2024 Stonebrook Ave @ El Monte 1…011-5100-6364 142.00 PURISSIMA HILLS WATER NOV2024-2496 12/18/2024 26379 Fremont Road - LAH 10… 061-1480-6364 79.00 PURISSIMA HILLS WATER NOV2024-2497 12/18/2024 26379 Fremont Road - Irrigati… 061-1480-6364 283.75 PURISSIMA HILLS WATER NOV2024-2498 12/18/2024 26379 Fremont Road - Heritag…061-1480-6364 97.13 PURISSIMA HILLS WATER NOV2024-2500 12/18/2024 Little League Field 10/31/24-1… 011-5100-6364 2,712.70 PURISSIMA HILLS WATER NOV2024-2501 12/18/2024 27400 Purissima Road - Corp … 061-4300-6364 69.73 PURISSIMA HILLS WATER NOV2024-3112 12/18/2024 Elena & Purissima Sewer Lift S…051-4800-6364 38.23 PURISSIMA HILLS WATER NOV2024-3760 12/18/2024 26379 Fremont Road-Recreati…061-1480-6364 53.98 PURISSIMA HILLS WATER NOV2024-4523 12/18/2024 Fremont Road pathway irrigat…011-4740-6364 49.88 PURISSIMA HILLS WATER NOV2024-4643 12/18/2024 Arastradero C2 Pathway Irrigat…011-4740-6364 38.23 Vendor V0980 - PURISSIMA HILLS WATER Total: 3,564.63
Vendor: REDWOOD94607 - REDWOOD PUBLIC LAW, LLP
REDWOOD PUBLIC LAW, LLP 13024 12/18/2024 LABOR & EMPLOYMENT LEGAL…011-1500-6112 152.44 REDWOOD PUBLIC LAW, LLP 13026 12/18/2024 Monthly Basic General Counse…011-1500-6201 13,465.00 Vendor REDWOOD94607 - REDWOOD PUBLIC LAW, LLP Total: 13,617.44 Vendor: ROYAL02 - ROYAL BRASS INC
ROYAL BRASS INC 00343563 12/05/2024 PARTS FOR TREE TRUCK 9/24/… 061-4300-6351 85.14 Vendor ROYAL02 - ROYAL BRASS INC Total: 85.14
Vendor: SRROSE95030 - S.R.ROSE ENGINEERING INC
S.R.ROSE ENGINEERING INC LAH-113 12/18/2024 PRJ MGMT BROADBAND FIBER…041-6900-6199 715.00 S.R.ROSE ENGINEERING INC LAH-114 12/18/2024 PROJ MGMT EL MONTE FIRE S…041-6900-6199 4,041.00 Vendor SRROSE95030 - S.R.ROSE ENGINEERING INC Total: 4,756.00 Vendor: SAFETKRAJINIC01 - SAFET KRAJINIC-M&S ROOFING
SAFET KRAJINIC-M&S ROOFING BLD24-0189 12/18/2024 BLD24-0189 OVER CHARGE (B… 011-0000-2002 22.12 Vendor SAFETKRAJINIC01 - SAFET KRAJINIC-M&S ROOFING Total: 22.12 Vendor: NASHASHIBI01 - SAMIR NASHASHIBI
SAMIR NASHASHIBI EP24-0092 12/19/2024 REFUND DEPOSIT - 28008 LAU…011-0000-2301 418.00 Vendor NASHASHIBI01 - SAMIR NASHASHIBI Total: 418.00
Vendor: SCCCMA - SANTA CLARA COUNTY CITY MANAGERS' ASSOCIATION SANTA CLARA COUNTY CITY … 11.22.24 12/05/2024 SCCCMA HOLIDAY APPRECIAT… 011-1100-6308 225.00 Vendor SCCCMA - SANTA CLARA COUNTY CITY MANAGERS' ASSOCIATION Total: 225.00

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 9 of 15
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: SCCSHERIFF - SANTA CLARA COUNTY SHERIFF'S DEPT
SANTA CLARA COUNTY SHERI… 1800091985 12/19/2024 SERVICES FOR DECEMBER 2024 011-2100-6152 221,319.00 Vendor SCCSHERIFF - SANTA CLARA COUNTY SHERIFF'S DEPT Total: 221,319.00 Vendor: SERVENTI02 - SERVENTI, KATY
SERVENTI, KATY 12.17.24 12/18/2024 NEIGHBORHOOD WATCH 12/… 011-2100-6399 220.53 Vendor SERVENTI02 - SERVENTI, KATY Total: 220.53
Vendor: SHARP_JPA - SHARED AGENCY RISK POOL
SHARED AGENCY RISK POOL INV0023 12/05/2024 Q2 WORKS' COMPENSATION … 061-1470-6029 27,596.75 Vendor SHARP_JPA - SHARED AGENCY RISK POOL Total: 27,596.75 Vendor: SHARP91185 - SHARP BUSINESS SYSTEMS
SHARP BUSINESS SYSTEMS 9005120621 12/18/2024 #8020129735 EQP#10245582… 061-1480-6402 457.75 Vendor SHARP91185 - SHARP BUSINESS SYSTEMS Total: 457.75 Vendor: SIERRAVIEW01 - SIERRA VIEW PARTNERS
SIERRA VIEW PARTNERS 2024-1 12/05/2024 FINAL PRESENTATION 11/18/… 011-1100-6199 2,400.00 Vendor SIERRAVIEW01 - SIERRA VIEW PARTNERS Total: 2,400.00 Vendor: STAPLES30348 - STAPLES BUSINESS CREDIT
STAPLES BUSINESS CREDIT 7645222988-000-001 12/05/2024 OFFICE SUPPLIES 11/25/24 061-1480-6301 120.72 STAPLES BUSINESS CREDIT 7645501725-000-001 12/05/2024 KITCHEN SUPPLIES 11/25/24 061-1480-6398 161.73 STAPLES BUSINESS CREDIT 7645560636-000-001 12/05/2024 KITCHEN SUPPLIES 11/25/24 061-1480-6398 217.52 STAPLES BUSINESS CREDIT 7645560636-000-002 12/05/2024 OFFICE SUPPLIES 11/25/24 061-1480-6398 19.09 STAPLES BUSINESS CREDIT 7908822373-000-001 12/05/2024 OFFICE SUPPLIES 11/25/24 061-1480-6301 463.36 Vendor STAPLES30348 - STAPLES BUSINESS CREDIT Total: 982.42 Vendor: STATCOMM01 - STATCOMM INC
STATCOMM INC 12647527 12/19/2024 A/HR CALL FM CODY FR LEAKI… 061-1480-6118 1,323.29 STATCOMM INC 12647825 12/19/2024 A/HR CALL FM CODY FR LEAKI… 061-1480-6118 1,470.00 Vendor STATCOMM01 - STATCOMM INC Total: 2,793.29
Vendor: SWRCB - STATE WATER RESOURCES CONTROL BOARD
STATE WATER RESOURCES C… SW-0296251 12/05/2024 STATE WATER RESOURCES C… 011-4500-6315 7,279.00 Vendor SWRCB - STATE WATER RESOURCES CONTROL BOARD Total: 7,279.00 Vendor: B11219 - STEPHEN OR LISA SCHMIDT
STEPHEN OR LISA SCHMIDT BLD24-0213 12/18/2024 BLD24-0213 OVERCHARGE BO…011-0000-2002 4.48 Vendor B11219 - STEPHEN OR LISA SCHMIDT Total: 4.48
Vendor: STEVENS95014 - STEVENS CREEK QUARRY
STEVENS CREEK QUARRY 1103448 12/18/2024 SAND FOR SANDBAGS 11/20/… 061-4300-6398 207.96 STEVENS CREEK QUARRY 1103646 12/18/2024 SAN FOR SANDBAG 11/21/24 061-4300-6398 222.58 Vendor STEVENS95014 - STEVENS CREEK QUARRY Total: 430.54 Vendor: SUN64180 - SUN LIFE
SUN LIFE 925773-0001 12.13.24 12/18/2024 EE LIFE 1/01/25 - 01/31/25 061-0000-2225 791.43 SUN LIFE 925773-0001 12.13.24 12/18/2024 EE ADD 1/01/25 - 01/31/25 061-0000-2225 102.12 SUN LIFE 925773-0001 12.13.24 12/18/2024 LTD-B 1/01/25 - 01/31/25 061-0000-2226 1,184.71 Vendor SUN64180 - SUN LIFE Total: 2,078.26
Vendor: CHAO04 - SUNNY CHAO
SUNNY CHAO 11.26.24 12/18/2024 CEQA CONFERENCE 12/9/24-… 011-3100-6309 1,195.00 Vendor CHAO04 - SUNNY CHAO Total: 1,195.00
Vendor: SUPERION60693 - SUPERION, LLC
SUPERION, LLC 425821 12/05/2024 ADMIN PROJ MGMENT SVCS … 011-3200-6313 45.00 Vendor SUPERION60693 - SUPERION, LLC Total: 45.00
Vendor: SYNEGEN60143 - SYNEGEN, INC
SYNEGEN, INC 378301 12/05/2024 2 OF 2 EXECUTION OF SCHED… 011-1100-6209 2,198.50 SYNEGEN, INC 378302 12/05/2024 2OF2 CUSTOM PROJECT BOA… 011-1100-6209 12,014.00 Vendor SYNEGEN60143 - SYNEGEN, INC Total: 14,212.50
Vendor: BARTLETT01 - THE F.A. BARTLETT TREE EXPERT COMPANY THE F.A. BARTLETT TREE EXPE… 17660 12/18/2024 ASSESSED TREES NEAR SELECT…011-4600-6124 22,450.00 Vendor BARTLETT01 - THE F.A. BARTLETT TREE EXPERT COMPANY Total: 22,450.00

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 10 of 15
Vendor Name Payable Number Post Date Description (Item) Account Number Amount Vendor: THEKPA94566 - THE KPA GROUP
THE KPA GROUP H008 12/18/2024 HERITAGE HOUSE REMODEL 9…041-6900-6209 54,429.50 THE KPA GROUP H009 12/18/2024 HERITAGE HOUSE REMODEL S… 041-6900-6209 1,856.60 Vendor THEKPA94566 - THE KPA GROUP Total: 56,286.10
Vendor: TRAFFIC02 - TRAFFIC PATTERNS LLC
TRAFFIC PATTERNS LLC OCT-NOV 2024 12/18/2024 OCT-NOV 2024 SERVICES CMO 011-1200-6199 140.00 TRAFFIC PATTERNS LLC OCT-NOV 2024 12/18/2024 OCT-NOV 2024 SERVICES FIN… 011-1400-6332 420.00 TRAFFIC PATTERNS LLC OCT-NOV 2024 12/18/2024 OCT-NOV 2024 SERVICES PUBL…011-3300-6199 630.00 Vendor TRAFFIC02 - TRAFFIC PATTERNS LLC Total: 1,190.00 Vendor: TRIPEPI01 - TRIPEPI, SMITH AND ASSOCIATES, INC
TRIPEPI, SMITH AND ASSOCIA… 13684 12/18/2024 GRAPHIC ARTS SERVICES 11/8… 041-6900-6205 600.00 Vendor TRIPEPI01 - TRIPEPI, SMITH AND ASSOCIATES, INC Total: 600.00 Vendor: CRAFTSMEN95119 - UNITED CRAFTSMEN INC
UNITED CRAFTSMEN INC 12318 12/05/2024 PRINTING TOWN NEWSLETTER…011-1300-6304 6,450.47 UNITED CRAFTSMEN INC 12311-A 12/18/2024 BUSINESS CARDS FOR JORAM 011-1200-6304 125.50 UNITED CRAFTSMEN INC 12311-A 12/18/2024 BUSINESS CARDS FOR SUNNY 011-3100-6304 125.50 UNITED CRAFTSMEN INC 12311-A 12/18/2024 BUSINESS CARDS FOR DANIEL 011-3300-6304 125.50 Vendor CRAFTSMEN95119 - UNITED CRAFTSMEN INC Total: 6,826.97 Vendor: USBANK63179 - US BANK EQUIPMENT FINANCE
US BANK EQUIPMENT FINANCE 544088990 12/18/2024 POOL - B&W 500-0698340-00… 061-1480-6402 1,331.78 Vendor USBANK63179 - US BANK EQUIPMENT FINANCE Total: 1,331.78 Vendor: HOUSEN94526 - V. W. HOUSEN & ASSOCIATES, INC.

V. W. HOUSEN & ASSOCIATES, …1599 12/05/2024 PROJ MGMNT,DEVEL RISK M… 048-6900-6209 8,898.00 Vendor HOUSEN94526 - V. W. HOUSEN & ASSOCIATES, INC. Total: 8,898.00 Vendor: WF_VISA60197 - WELLS FARGO - VISA
WELLS FARGO - VISA 1083 12.3.24 12/03/2024 OPENAI CHATGPT PLUS SUBS… 011-1400-6302 20.00 WELLS FARGO - VISA 1083 12.3.24 12/03/2024 MMANC CA (MMANC) TOMO… 011-1400-6302 75.00 WELLS FARGO - VISA 6429 12.3.24 12/03/2024 ALOTTAS DELI FOOD MONTHL…011-3300-6308 149.33 WELLS FARGO - VISA 6429 12.3.24 12/03/2024 SAFEWAY FOOD FOR INTERVI… 061-4300-6399 74.03 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 ZOOM SUBSCRIPTIONS-CITY … 011-1100-6398 67.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 STARLINK EMERGENCY PREPA… 011-1200-6199 120.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 HULU EMERGENCY PREPARE… 011-1200-6208 87.99 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 AMAZON OFFICE SUPPLIES 011-1200-6301 13.08 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 AMAZON OFFICE SUPPLIES 011-1200-6301 12.21 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 CHEVY'S CONFERENCE FOOD 011-1200-6308 20.75 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 UNITED CONFERENCE TRAVEL …011-1200-6308 24.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 SMASH BURGER CONFERENCE…011-1200-6308 25.28 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 THE BROADMOOR FOOD&BE… 011-1200-6308 25.95 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 BIRD AND THE BOTTLE CONFE… 011-1200-6308 40.30 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 HEID'S BROOKLYN DELI CONF… 011-1200-6308 15.28 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 UNITED CONFERENCE TRAVEL …011-1200-6308 24.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 THE BROADMOOR FOOD&BE… 011-1200-6308 34.22 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 UBER CONFERENCE TRAVEL - … 011-1200-6308 11.90 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 MMANC TOMORROW'S DEPA… 011-1200-6308 75.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 THE BROADMOOR FOOD&BE… 011-1200-6308 31.93 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 THE BROADMOOR LODGING … 011-1200-6308 562.85 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 HYATT REGENCY CONFERENCE…011-1200-6308 871.38 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 CASH BANK 12.3.24 011-1400-6331 -641.44 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 ZOOM SUBSCRIPTIONS-TECH… 011-1700-6398 67.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 ZOOM SUBSCRIPTIONS-PARK… 011-1700-6398 67.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 ZOOM SUBSCRIPTION-COMM… 011-1700-6398 66.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 ZOOM SUBSCRIPTIONS-PATH… 011-1700-6398 66.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 ZOOM SUBSCRIPTIONS-ENVIR… 011-1700-6398 66.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 ZOOM SUBSCRIPTIONS-HISTO… 011-1700-6398 66.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 ZOOM SUBSCRIPTIONS-FINAN…011-1700-6398 67.00 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 FEDEX EMERGENCY PREPARE… 011-2100-6399 480.85 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 FEDEX EMERGENCY PREPARE… 011-2100-6399 229.13 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 ZOOM SUBSCRIPTIONS-PLANN…011-3110-6398 67.00

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 11 of 15
Vendor Name Payable Number Post Date Description (Item) Account Number Amount WELLS FARGO - VISA 7986 12.3.24 12/03/2024 SHUTTERFLY TOWN HOLIDAY … 061-1480-6361 310.89 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 MENDOCINO FARMS CATERI… 061-1480-6398 398.30 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 SAFEWAY STAFF MEETING 061-1480-6398 11.99 WELLS FARGO - VISA 7986 12.3.24 12/03/2024 THE POSH BAGEL STAFF MEET… 061-1480-6398 71.91 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 WAL-MART EMINA TO REIMB… 011-1000-6398 149.35 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 WAL-MART STORAGE BINS 011-1000-6398 22.85 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 FACEBOOK BARN LIGHTING AD 011-4120-6361 2.15 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 FACEBOOK BARN LIGHTING AD 011-4120-6361 3.29 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 PAYPAL-CITYSPARK KRON 4 N… 011-4120-6361 15.00 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 SAN JOSE ECOMM HONEYBAK…061-1480-6361 4.02 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 SAFEWAY WELCOME BREAKF… 061-1480-6361 96.61 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 TENDER GREENS WELLNESS L… 061-1480-6361 376.97 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 THE POSH BAGEL WELCOME … 061-1480-6361 94.75 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 SAFEWAY DRINKS FOR WELLN… 061-1480-6361 47.53 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 TENDER CREEN CREDIT 061-1480-6361 -15.08 WELLS FARGO - VISA 8455 12 3.24 12/03/2024 SAFEWAY DRINKS FOR FRIEND…061-1480-6361 44.99 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 JOINT LOS ALTOS-LAH TABLE … 011-1100-6308 440.00 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 MARRIOTT TAMPA WATER T… 011-1100-6308 3,194.66 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 LEAGUE OF CA CITIES T/M REG…011-1100-6308 675.00 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 JOIN LOS ALTOS-LAH T/MEETI… 011-1100-6308 440.00 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 CITIES ASSOC. T/MTG 6 TICKE… 011-1100-6308 300.00 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 LEAGUE OF CA CITIES T/M REG…011-1100-6308 675.00 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 TRAVELNEWS SFO T/MTG: NLC…011-1200-6308 22.60 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 HIGH FLYING FOODS SFO T/M… 011-1200-6308 10.70 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 HARDROCK CAFE T/MTG DIN… 011-1200-6308 26.72 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 UBER TRAVEL/MEETING RIDE… 011-1200-6308 49.63 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 PHO CABIN T/M LNCH WTH P… 011-1200-6308 50.34 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 PREPAID PARKING, SFO TRLV… 011-1200-6308 76.00 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 UBER TRAVEL/MTG RIDESHAR…011-1200-6308 82.28 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 MARRIOTT TAMPA WATER T… 011-1200-6308 397.45 WELLS FARGO - VISA 8711 12.3.24 12/03/2024 OPEN AI:CHAT GPT DATA SERV…011-1200-6338 20.00 WELLS FARGO - VISA 8836 12.3.24 12/03/2024 APWS SILICON VALLEY HOLID… 011-3300-6308 60.00 WELLS FARGO - VISA 8836 12.3.24 12/03/2024 C&S TOWING-TOWING OF BU… 061-4400-6318 850.00 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 LEAGUE OF CA CITIES MEMBE… 011-1100-6302 675.00 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 THE COUNTER T/MTG CITY C… 011-1100-6308 -17.24 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 SAFEWY T/MTG CITY COUNCIL…011-1100-6308 9.99 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 SAFEWY T/MTG CITY COUNCIL…011-1100-6308 25.96 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 SWAY T/MTG CITY COUNCIL S… 011-1100-6308 39.99 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 SAFEWY T/MTG CITY COUNCIL…011-1100-6308 21.56 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 THE REDWOOD GRILL T/MTG … 011-1100-6308 71.02 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 SAFEWAY T/MEETING CITY C… 011-1100-6308 73.05 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 THE COUNTER T/MTG CITY C… 011-1100-6308 431.07 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 DOORDASH:THE AMERICAN D… 011-1200-6308 7.83 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 DOORDASH:THE AMERICAN D… 011-1200-6308 106.14 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 DOORDASH:LULU'S MANAGE… 011-1200-6361 215.97 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 OPENAI: CHAT GPT DATA SUB… 011-3100-6338 20.00 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 DOORDASH:MEETING PLANNI… 011-3110-6308 243.18 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 SAFEWAY T/MEETING PLANN… 011-3110-6308 67.57 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 DOORDASH:CAFE NUR TOWN… 011-3300-6308 86.43 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 TOTAL WINE:SPECL EVENT-W… 011-4120-6361 107.25 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 OCCUSCREEN LLC TOWN REC… 061-1480-6332 64.00 WELLS FARGO - VISA 9636 12.3.24 12/03/2024 TONY'S COFFEE SUBSCRIPTION…061-1480-6398 82.80 WELLS FARGO - VISA 9813 12.3.24 12/03/2024 SAFEWAY COFFEE FOR HOUSI… 011-3100-6301 17.99 WELLS FARGO - VISA 9813 12.3.24 12/03/2024 LEGAUE OF CA CITIES NEW L… 011-3100-6309 25.00 WELLS FARGO - VISA 9813 12.3.24 12/03/2024 MMANC 2024 TOMORROW'S … 011-3200-6309 75.00 Vendor WF_VISA60197 - WELLS FARGO - VISA Total: 14,437.48 Grand Total: 2,680,106.36

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 12 of 15
Report Summary
Fund Summary
Fund Payment Amount
011 - GENERAL FUND 645,421.08
041 - GENERAL CIP FUND 1,848,323.02
046 - STREET CIP 62,533.42
048 - SEWER FUND CIP 8,898.00
051 - SEWER FUND 379.01
061 - GENERAL SERVICE FUND 114,551.83
Grand Total: 2,680,106.36
Account Summary
Account Number Account Name Payment Amount
011-0000-1110 Receivable - Miscellaneo… 5,646.21
011-0000-2002 Strong Motion Impl Pay… 109.20
011-0000-2301 Planning Deposits 6,966.78
011-0000-2303 Bond Deposits 64,700.00
011-0000-4685 Administrative Charge -548.53
011-1000-6362 Telephone 50.13
011-1000-6398 Other General Expense 172.20
011-1100-6199 Other Contract Services 6,605.82
011-1100-6209 Other Program & Proj C… 21,412.50
011-1100-6302 City Membership 675.00
011-1100-6308 Travel & Meetings 12,605.06
011-1100-6398 Other General Expense 67.00
011-1200-6199 Other Contract Services 260.00
011-1200-6208 Programming & Comput… 87.99
011-1200-6301 Office Supplies 25.29
011-1200-6304 Printing & Copying 125.50
011-1200-6308 Travel & Meetings 6,092.53
011-1200-6312 Books/Films/Publications 107.23
011-1200-6338 Data Service Subscriptio… 20.00
011-1200-6361 Special Events & Awards 215.97
011-1200-6362 Telephone 230.87
011-1200-6398 Other General Expense 1,320.33
011-1300-6302 City Membership 330.00
011-1300-6304 Printing & Copying 6,450.47
011-1300-6309 Instruction & Training 1,460.00
011-1300-6362 Telephone 100.26
011-1400-6111 Contract Personnel 6,756.75
011-1400-6199 Other Contract Services 15,903.00
011-1400-6203 Audit & Financial 9,600.00
011-1400-6302 City Membership 95.00
011-1400-6303 Postage 86.98
011-1400-6313 Computer Software 42,000.00
011-1400-6331 Bank Fees -597.48
011-1400-6332 Town Recruitment 420.00
011-1400-6362 Telephone 91.57
011-1500-6112 Legal - Special Projects 152.44
011-1500-6201 Legal - City Attorney 13,465.00
011-1700-6209 Other Program & Proj C… 276.07
011-1700-6398 Other General Expense 465.00
011-2100-6152 Law Enforcement 221,319.00
011-2100-6199 Other Contract Services 47,979.27
011-2100-6362 Telephone 287.90
011-2100-6399 Other Supplies/Materials 1,184.36
011-3100-4702 Attorney's Fees -438.75
011-3100-4707 Contract Geologist Char… -3,382.50
011-3100-6111 Contract Personnel 6,167.33
011-3100-6177 Attorney Fees - Billable 438.75

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 13 of 15
Account Summary
Account Number Account Name Payment Amount
011-3100-6178 Geologist Charges - Billab… 3,382.50
011-3100-6301 Office Supplies 17.99
011-3100-6304 Printing, copying & scann… 125.50
011-3100-6309 Instruction & Training 1,220.00
011-3100-6313 Computer Software 618.75
011-3100-6338 Data Service Subscriptio… 232.18
011-3100-6362 Telephone 90.37
011-3110-6308 Travel & Meetings 310.75
011-3110-6398 Other General Expense 67.00
011-3120-6111 Contract Personnel 17,684.50
011-3200-6114 Contract Plan Checks 31,615.59
011-3200-6199 Other Contract Services 43,064.00
011-3200-6309 Instruction & Training 75.00
011-3200-6313 Computer Software 45.00
011-3200-6338 Data Service Subscriptio… 212.18
011-3200-6362 Telephone 90.37
011-3300-4705 Engineer's Charges - Con… -1,664.00
011-3300-6138 Hazardous Waste Progr… 678.00
011-3300-6179 Engineering Chrgs - Billab… 1,664.00
011-3300-6199 Other Contract Services 630.00
011-3300-6304 Printing, copying & scann… 125.50
011-3300-6308 Travel & Meetings 295.76
011-3300-6332 Town Recruitment 126.00
011-3300-6362 Telephone 454.29
011-4120-6361 Special Events & Awards 794.81
011-4500-6315 Permits for Operation 7,279.00
011-4600-6124 Tree Maintenance 22,450.00
011-4600-6146 Traffic Signal Repair/Rep… 551.25
011-4600-6199 Other Contract Services 112.50
011-4740-6125 Pathways Maintenance 4,700.00
011-4740-6364 Water 88.11
011-5100-6118 Facility Maint & Security 1,468.21
011-5100-6122 Lawncare/Landscaping 1,112.41
011-5100-6123 Housekeeping 1,260.00
011-5100-6130 Pest Control 1,300.00
011-5100-6364 Water 2,913.15
011-5300-6122 Lawncare/Landscaping 1,750.00
011-5300-6123 Housekeeping 860.00
011-5300-6362 Telephone 62.91
041-6900-6199 Other Contract Services 87,721.73
041-6900-6205 Architectural & Design 600.00
041-6900-6206 Engineering Consultants 84,020.85
041-6900-6209 Other Program & Proj C… 56,286.10
041-6900-6341 Signs 8,423.89
041-6900-6613 Computer Equipment 17,780.00
041-6900-6622 Site Improvements 1,593,490.45
046-6900-6151 Street Construction Cont… 62,453.42
046-6900-6199 Other Contract Services 80.00
048-6900-6209 Other Program & Proj C… 8,898.00
051-4800-6118 Facility Maint & Security 75.00
051-4800-6199 Other Contract Services 168.75
051-4800-6362 Telephone 97.03
051-4800-6364 Water 38.23
061-0000-2204 Deferred Comp Payable 36,344.18
061-0000-2225 Life Insurance Payable 893.55
061-0000-2226 Long Term Disability Pay… 1,184.71
061-0000-2233 Dental & Vision Insuranc… 5,486.94
061-1470-6029 Workers Comp Insurance… 27,596.75

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 14 of 15
Account Summary
Account Number Account Name Payment Amount
061-1480-6111 Contract Personnel 13,540.00
061-1480-6118 Facility Maint & Security 3,317.71
061-1480-6122 Lawncare/Landscaping 1,250.00
061-1480-6123 Housekeeping 6,488.01
061-1480-6301 Office Supplies 678.52
061-1480-6303 Postage 401.00
061-1480-6310 On-Line Service 1,167.46
061-1480-6323 Disposal Services 67.66
061-1480-6332 Town Recruitment 64.00
061-1480-6342 Gas and Oil 131.24
061-1480-6361 Special Events & Awards 1,093.43
061-1480-6362 Telephone 1,569.83
061-1480-6364 Water 513.86
061-1480-6398 Other General Expense 1,552.01
061-1480-6402 Office Mach & Furniture… 1,789.53
061-4300-6118 Facility Maint & Security 2,414.41
061-4300-6123 Housekeeping 900.00
061-4300-6324 Uniforms 351.99
061-4300-6325 Safety Gear 141.86
061-4300-6342 Gas and Oil 2,148.69
061-4300-6351 Auto & Equipment Parts 324.30
061-4300-6362 Telephone 448.07
061-4300-6364 Water 69.73
061-4300-6398 Other General Expense 464.09
061-4300-6399 Other Supplies/Materials 463.67
061-4300-6405 Outside Equipment Rent… 385.00
061-4400-6318 Vehicle Repair 850.00
061-4400-6342 Gas and Oil 423.65
061-4400-6399 Other Supplies/Materials 35.98
Grand Total: 2,680,106.36
Project Account Summary
Project Account Key Payment Amount
**None** 687,149.26
111710 66.00
111720 66.00
111730 67.00
111740 66.00
111790 217.83
111799 66.00
111803 67.00
111804 125.24
410216 1,681,552.30
410218 600.00
410220 82,965.73
410224 56,286.10
410226 8,423.89
410227-25 17,780.00
419300 715.00
467226-25 62,453.42
467228 80.00
487918-25 8,898.00
BLD18-0331 0.00
BLD19-0294 0.00
BLD22-0613-ELEC 40,000.00
BLD22-0613-FD 2,700.00
BLD22-0613-GAS 20,000.00
CDP23-0001 482.63

Expense Approval Report Payable Dates: 12/1/2024 - 12/31/2024 2/12/2025 12:15:54 PM Page 15 of 15
Project Account Summary
Project Account Key Payment Amount
EP24-0050 515.00
EP24-0050-PB 2,000.00
EP24-0092 418.00
PA24-0029 2,142.25
R4120-10 405.81
R4130-1 389.00
SD24-0006 1,830.40
SD24-0012 1,578.50
Grand Total: 2,680,106.36

ITEM 4C
REVISED 2.13.25
TOWN OF LOS ALTOS HILLS February 20, 2025
Staff Report to the City Council
SUBJECT: RECEIVE QUARTERLY INVESTMENT PORTFOLIO REPORT – QUARTER ENDING DECEMBER 31, 2024
FROM: Thomas Leung, Finance Director
APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:

Receive Quarterly Investment Portfolio Report – Quarter Ending December 31, 2024 BACKGROUND:

These quarterly reports are presented to both the City Council and the Finance and Investment Committee to keep both bodies apprised as to the status of the Town’s investment holding and demonstrate compliance with the Town’s Investment Policy.

DISCUSSION:

The Town’s investment holdings are shown in Attachment 2. The Town’s portfolio book value, excluding operating cash and bond holdings as of December 31, 2024 was $25,041,503.

Full compliance with the Town’s Investment Policy is monitored closely and on a per trade basis as illustrated in Attachment 3. Per California Government Code 53646(b)(2), the Town’s portfolio complies with the Town’s Investment Policy. In accordance with California Government Code 53646(b)(3), the Town can meet its expenditure requirements for the next six months.

As part of these quarterly updates, a status report is prepared by PFM which is included as Attachment 3: Investment Performance Review for the Quarter Ended December 31, 2024.

It is important to note that this report highlights the performance of the Town’s investments that fall outside its liquid holdings with LAIF.
2024-25 CITY COUNCIL WORK PLAN:

This report was not specifically identified as one of the Council’s priorities for 2024-25, but it is a form of financial transparency.

Staff Report Page 2
Quarterly Investment Quarter Ending December 31, 2024
February 20, 2025
ENVIRONMENTAL REVIEW:

The proposed project is exempt from California Environmental Quality Act (CEQA) pursuant to Sections 15061(b)(3) of the CEQA Guidelines.

FISCAL IMPACT:

There is no fiscal impact in accepting this report.

ATTACHMENTS

1. Portfolio Mix Charts

2. Investment Policy Compliance Chart

3. PFM Investment Performance Review Quarter Ended December 31, 2024

4. CAMP Statement December 31, 2024

Portfolio Mix
Charts December
31, 2024
Market
Security Type % of Total Par Value Value
LAIF 8.4% 2,102,985 2,102,985
Money Market 0.9% 219,386 219,386
Corp Notes 23.7% 5,935,000 5,805,609Certificate of Deposits 1.6% 400,000 408,547 Federal Agencies 13.1% 3,279,132 3,230,086Municipal Bonds 0.2% 50,000 47,891 Supra-National Agency Bond 0.0% - -
US Treasury 52.1% 13,055,000 12,391,297
Accrued Interest 135,467
100% 25,041,503 24,341,268
Market
Class Type % of Total Par Value Value
Corp Notes 26.1% 5,935,000 5,805,609US Treasury/Agencies 71.9% 16,334,132 15,621,383 Supra-National Agency Bond 0.0% - -
Municipal Bonds 0.2% 50,000 47,891
Certificate of Deposits 1.8% 400,000 408,547
Accrued Interest - 135,467
100% 22,719,132 22,018,897
Margin Over (Under) Par (700,235)
Corp Notes

26.1%
US
Treasury/Agencies

71.9%
Municipal Bonds
0%
Certificate of
Deposits 1.8%

PORTFOLIO MIX - BY CLASS
LAIF

8.4%
Money Market

0.9%
Corp Notes

23.7%
Certificate of
Deposits

1.6%
Federal Agencies

13.1% Municipal Bonds

0.2%
US Treasury

35.2%

PORTFOLIO MIX - BY SECURITY
ITEM 4C Attachment 1
REVISED 2.13.25

Investment Policy Compliance Chart
December 31, 2024
Earliest City Policy City Policy City Policy % Compliance Term Compliance City Investment % Mix Par Value Term Term Limitation $ Limitation % Limitation CAPACITY Yes/No Yes/No LAIF 8.4% 2,102,985 01/00/00 No Term 75,000,000 100% 72,897,015 Yes N/A Money Market 0.9% 219,386 01/00/00 No Term 100% 24,822,117 Yes N/A Corp Notes 23.7% 5,935,000 11/05/19 5 Years 30% 1,577,451 Yes No Certificate of Deposits 1.6% 400,000 07/17/26 3 Years 30% 7,112,451 Yes NoFederal Agencies 13.1% 3,279,132 12/13/19 5 Years 100% 21,762,371 Yes No Municipal Bonds 0.2% 50,000 10/29/19 5 Years 30% 7,462,451 Yes NoSupra-National 0.0% - 02/19/21 5 Years 30% 7,512,451 Yes NoUS Treasury 52.1% 13,055,000 11/06/19 5 Years 100% 11,986,503 Yes No 100% 25,041,503
ITEM 4C Attachment 2
REVISED 2.13.25

Investment Performance Review
For the Quarter Ended December 31, 2024
Client Management Team PFM Asset Management A division of U.S. Bancorp Asset Management, Inc Monique Spyke, Managing DirectorJustin Resuello, Institutional Sales & Relationship Manager 213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
1 California Street Ste. 1000
San Francisco, CA 94111-5411
415-393-7270
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public

LOS ALTOS HILLS
ITEM 4C Attachment 3
REVISED 2.13.25

PFM Asset Management | pfmam.com
• Market Update• Account Summary• Portfolio Review

PFM Asset Management | pfmam.com
Market Update

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2024
Market Update
Current Market Themes
▸ U.S. economic soft landing remains on track
▹ Inflation and labor markets are in line with Fed expectations despite slower recent progress
▹ Strong economic growth prospects remain intact, aided by a resilient consumer▹ Changes to fiscal policy may impact growth and inflation trajectory ▸ Fed easing cycle moves forward as expected, but looks to slow in 2025 ▹ The Fed cut the federal funds target rate by an additional 50 basis points (bps) during the fourth quarter to 4.25% - 4.50%
▹ The Fed’s December “dot plot” implies another 50 bps of cuts in 2025, less than the 100 bps of cuts previously projected in September
▹ Fed Chair Powell noted the slower pace of cuts reflect “stickier” inflation heading into 2025 ▸ Treasury yields responded to expected monetary and fiscal policy ▹ Yields on maturities between 2 years and 10 years rose 60-83 bps during the 4th quarter ▹ The yield curve disinversion continued and was flatter at the front end and positively sloped beyond 1-year
▹ Yield spreads remained near historically tight levels across most sectors aided by robust demand and strength in the economy
Source: Details on market themes and economic indicators provided throughout the body of the presentation. Bloomberg Finance L.P., as of December 31, 2024.

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2024
Market Update
Source: FOMC Chair Jerome Powell Press Conference, December 18, 2024. Bureau of Labor Statistics, Bureau of Economic Analysis, and Bloomberg Finance L.P., as of November 2024. Data is seasonally adjusted. Historical average unemployment rate calculated from January 1990-November 2024.

Fed Chair Powell: “Downside risks to the labor market do appear to have diminished … Inflation, we see that story as still broadly on track.”
The Fed’s Dual Mandate
Nov-24

2.7%
Nov-24

2.8%
0%
2%
4%6%8%
10%
2021 2022 2023 2024
Inflation
Year-over-Year Changes
CPI Core PCE Fed Target
Nov-24

4.2%
3%4%5%6%
2021 2022 2023 2024
Unemployment Rate
Unemployment rate of 4.2% remains well
below the 25-year average of 5.7%

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

Sources: U.S. Bank: Stock Market Under The Trump Administration | U.S. Bank (usbank.com); Bloomberg Finance L.P. and Bureau of Economic Analysis as of November 2024 (top right). Bloomberg Finance L.P. as of December 2024 (bottom right).

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2024
Market Update
Election & Potential Policy Implications on the Fed
Tariffs
Regulation
Taxes
Immigration
Lower taxes viewed as positive for growth but negative for the deficit Uncertainty surrounding the scope and scale of tariff policy and viewed as inflationary Tighter border policy may have adverse impacts on the labor market Easing regulation is generally viewed as
positive for growth
-0.5%0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0%
Other Durable Goods
Telephones & Eq
IT Eq
Photographic Eq
Autos & Parts
Sports Eq
Video and Audio Eq
Durable Goods
Goods
MoM % Change In Real Consumption
Average August to October Nov-24
An increase in
durable goods
spending may
be partially
attributed to a
pull forward of
spending prior
to tariffs
0 50
100150200250
Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24
Word Count of S&P500 Companies
Mentioning Tariffs

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

Source: Federal Reserve Chair Jerome Powell Press Conference as of December 18, 2024; Bureau of Labor Statistics and Bloomberg Finance L.P. as of December 2024 (left). Bureau of Economic Analysis and Bloomberg Finance L.P., as of December 2024 (right).

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2024
Market Update
Fed Chair Powell: “I think it’s pretty clear we’ve avoided a recession. I think growth this year has been solid, it really has…Again the U.S. economy has just been remarkable.”
Inflation and Growth Forecasted To Remain Stable

2.4%

2.7% 2.6%
0%1%2%3%4%5%
Jun-24 Dec-24 Jun-25 Dec-25
CPI Inflation (YoY)
Average Forecast Actual

3.0% 3.1%

2.3%

1.9%

2.0% 2.0% 2.0%
0%1%2%3%4%
Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4' 25
U.S. GDP Forecasts
A
nnualized Rate
Actual Range Median of Forecasts

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

4 Fed’s Updated Summary of Economic Projections
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: Federal Reserve Chair Jerome Powell Press Conference as of December 18, 2024; Federal Reserve. As of December 2024.

For the Quarter Ended December 31, 2024
Market Update

4.4%

3.9%

3.4% 3.1% 3.0%
0%1%2%3%4%5%6%
2024 2025 2026 2027 Longer
Run
Federal Funds Rate
Sept Projections Dec Projections

2.4% 2.5%

2.1% 2.0% 2.0%
0%1%2%3%
2024 2025 2026 2027 Longer
Run
PCE Inflation
Sept Projections Dec Projections

4.2% 4.3% 4.3% 4.3% 4.2%
0%1%2%3%4%5%6%
2024 2025 2026 2027 Longer
Run
Unemployment Rate
Sept Projections Dec Projections

2.5%

2.1% 2.0% 1.9% 1.8%
0%1%2%3%4%
2024 2025 2026 2027 Longer
Run
Change in Real GDP
Sept Projections Dec Projections
Fed Chair Powell: “These median projections are somewhat higher than in September, consistent with the firmer inflation projection.”

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

5 The Fed’s Latest “Dot Plot
Source: Federal Reserve Chair Jerome Powell Press Conference as of December 18, 2024; Federal Reserve; Bloomberg Finance L.P.. Individual dots represent each Fed members’ judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end. As of December 2024.

For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2024
Market Update
0%1%2%3%4%5%
Fed Participants’ Assessments of ‘Appropriate’ Monetary Policy Dec-24 FOMC ProjectionsDec-24 MedianSep-24 Median
2024 2025 2026 2027 Longer Term
2 cuts 2 cuts 1 cuts 3.0%
Fed Chair Powell: “You see a slower path … meaningful progress to get inflation down to [2.5%] … we have the labor market forecast as being in good shape, we are also mindful that it is … very gradually cooling” The longer-term
neutral rate has
drifted up from

2.5% in Dec ’23
to 3% currently

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

U.S. Treasury Yield Curve Steepens
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: Bloomberg Finance L.P., as of December 31, 2024.

For the Quarter Ended December 31, 2024
Market Update

4.31%

4.24%

4.38%

4.48% 4.57%

4.78%

3.00%3.50%

4.00%4.50%5.00%5.50%
Yield
Maturity
U.S. Treasury Yield Curve
1 Year RangeDecember 31, 2024September 30, 2024
3mo 2yr 5yr 7yr 10yr 20yr 30yr

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

Sector Yield Spreads
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of December 31, 2024. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.

CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index.

For the Quarter Ended December 31, 2024
Market Update
-0.1%

0.1%0.3%0.5%
Dec-23 Mar-24 Jun-24 Sep-24 Dec-24
Federal Agency Yield Spreads
Bullet Callable

0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Dec-23 Mar-24 Jun-24 Sep-24 Dec-24
Corporate Notes A-AAA Yield Spreads

0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Dec-23 Mar-24 Jun-24 Sep-24 Dec-24
Mortgage-Backed Securities Yield Spreads
Agency MBS Agency CMBS Index

0.0%0.2%0.4%0.6%0.8%1.0%1.2%
Dec-23 Mar-24 Jun-24 Sep-24 Dec-24
Asset-Backed Securities AAA Yield Spreads

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

Sector Yield Spreads
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of December 31, 2024. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.

CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index.

For the Quarter Ended December 31, 2024
Market Update
-0.1%

0.0%0.1%0.2%
Sep-24 Oct-24 Nov-24 Dec-24
Federal Agency Yield Spreads
Bullet Callable 1 Year Average

0.3%0.5%0.7%0.9%
Sep-24 Oct-24 Nov-24 Dec-24
Corporate Notes A-AAA Yield Spreads
1-5 Yr. AAA-A Corp 1 Year Average

0.3%0.5%0.7%
Sep-24 Oct-24 Nov-24 Dec-24
Mortgage-Backed Securities Yield Spreads
Agency MBS Agency CMBS Index 1 Year Average

0.4%0.6%0.8%
Sep-24 Oct-24 Nov-24 Dec-24
Asset-Backed Securities AAA Yield Spreads
AAA ABS 1 Year Average
1 bps 55 bps
45 bps 58 bps

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

Fixed-Income Index Total Returns in 4Q 2024
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. As of December 31, 2024.

For the Quarter Ended December 31, 2024
Market Update
1-5 Year Indices
-0.77%
-0.13%

0.61%
-0.47%
-0.25%
-1.0%-0.5%

0.0%0.5%1.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
Fourth Quarter 2024 Returns

3.41%

3.98%

5.49%

4.81%

5.52%

0.0%2.0%4.0%6.0%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-Year Return

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

10 Factors to Consider for 6-12 Months
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2024
Market Update
Current outlook Outlook one quarter ago Negative Slightly Negative Neutral Slightly Positive Positive Statements and opinions expressed about the next 6-12 months were developed based on our independent research with information obtained from Bloomberg and FactSet. The views expressed within this material constitute the perspective and judgment of PFM Asset Management at the time of distribution (12/31/2024) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management cannot guarantee its accuracy, completeness, or suitability.

Monetary Policy (Global):• The Fed continued its easing cycle with a total of 100 basis points (bps) of rate cuts in 2024. TheFOMC’s December median “dot plot” projectionsuggests another 50 bps in cuts by the end of 2025,which is significantly less than previously implied, inlarge part due to uncertainty surroundingimplications of potential fiscal policy changes. • While the Fed and other major central banks
(excluding the Bank of Japan) continue to ease,expectations are for policy rates to settle higher inthe longer term given the higher inflation outlook.

Economic Growth (Global):• U.S. economic growth remains strong on consumer spending which remains quite resilient.
• Fiscal policies discussed on the campaign trial are
expected to boost growth, however actual policyimplementation and timing are uncertain andsubject to change. • Economic growth outside the U.S. remains modest.

Tariffs pose some risks with trading partners.
• Declines in foreign direct investment and weak
domestic demand continue to impact China.

Inflation (U.S.): • While inflation has fallen since its peak in 2022, progress has stalled in the past few months.
• The Fed has acknowledged higher inflation
expectations going into 2025. Further rate cuts willdepend on inflation moving closer to its 2% target. • Proposed fiscal policies may put pressure on wages
and goods costs. Some policymakers have alreadyincorporated these impacts into their outlooks.

Financial Conditions (U.S.):• Market metrics such as narrow corporate yield spreads and strong equity returns continue to pointto the stability of financial conditions. The potentialfor decreased regulation under the incomingadministration has buoyed economic confidence. • We remain attentive to further cooling in the labor
markets and fiscal policy considerations as thesewill play a large role in the evolution of futureconditions. While our base case is not for adramatic shift in conditions, the potential impact offuture policies warrants attention.

Consumer Spending (U.S.): • Broad consumer metrics show spending fueled by the stability of the labor market continuing tosupport economic strength. A growing divergenceamong consumers exists as lower-income cohortscontinue to feel more strain due to the higher overalllevel of prices. • An unexpected material deterioration of labor
market conditions is the biggest risk factor toconsumer spending. Other headwinds may includeslower real wage growth, which could reducepurchasing power, and higher interest ratespersisting.

Labor Markets:• The labor market remains well-positioned and in balance despite intra-quarter data volatility causedby weather events and strikes which have now beenresolved. • Layoffs remain near historically low levels; however, the pace of hiring has slowed considerably. The Fedhas acknowledged labor market conditions haveloosened, and a further cooling of labor conditions isnot necessary to achieve its dual mandate ofmaximum employment and stable prices.

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

11 Fixed-Income Sector Commentary – 4Q 2024
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2024
Market Update
▸ U.S. Treasury yields reacted to the market attempting to digest the potential impacts of the new administration’spolicy proposals. Areas of focus include taxes, tariffs,immigration, and deregulation, which the market generallyexpects will result in more growth but larger budget deficitsand higher inflation. Additionally, the Federal Open MarketCommittee (FOMC) continued with rate cuts, as expected,cutting a total of 100bps (basis points) in 2024. While theFed cut rates at both FOMC meetings in the 4th quarter,guidance on future rate cuts point toward a much slowerpace of cuts than previously anticipated. The culmination ofboth fiscal and monetary impulses led the Treasury curvesteeper with the 2-year Treasury yield rising 60 bps in thequarter while longer 10-year Treasuries rose 79 bps. As aresult of the Treasury sell-off, total returns were negative forthe period. ▸ Federal Agency & Supranational spreads remained low
and range bound throughout Q4. These sectors producedmuted excess returns relative to other investment gradefixed income sectors as issuance has remained quite lightand the incremental income from the sectors is minimal. ▸ Investment-Grade (IG) Corporates posted another
strong relative quarter as robust investor demandremained intact while issuance slowed into year end.Yield spreads tightened further toward mutli-year tights.From an excess return perspective, lower-quality andlonger-duration issuers outperformed in Q4. Excessreturns of financial and banking issuers once again ledmost other industries across much of the yield curveduring the quarter. ▸ Asset-Backed Securities spreads are tighter than their historical average while their underlying technicals remainstrong. Cross-sector spread comparisons relative tocorporates have shifted notably, as ABS spreadstightened substantially through year-end and now tradethrough corporates. As a result, ABS was a top of classperformer for Q4. ▸ Mortgage-Backed Securities were adversely affected by heightened rate volatility and headwinds in the housingmarket. After an exceptionally strong Q3, agency-backedmortgages underperformed Treasuries in the fourthquarter. On the other hand, well-structured Agencybacked commercial MBS (CMBS) performed better forthe quarter and saw positive excess returns. ▸ Short-term credit (commercial paper and negotiable
bank CDs) yields on the front end fell in response to theFed rate cuts, but the money market yield curvesteepened on prospects for “higher for longer”. Yieldspreads also widened modestly across the money marketcurve, most notably towards the back end.

The views expressed within this material constitute the perspective and judgment of PFM Asset Management at the time of distribution (12/31/2024) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management cannot guarantee its accuracy, completeness, or suitability.

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

12 Fixed-Income Sector Outlook – 1Q 2025
For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2024
Market Update
▸ U.S. Treasury yields moved notably higher throughout the 4th quarter as markets pared back expectations foraggressive Fed rate cuts in 2025 and now price a more tepidpace. We expect to see ongoing steepening of the yieldcurve with higher volatility as both fiscal and monetary policyevolve. ▸ Federal Agency & Supranational spreads are likely to
remain at tight levels. Government-heavy accounts may findoccasional value on an issue-by-issue basis, particularly inSupranationals as issuance increases in the new year. ▸ Taxable Municipals continue to see little activity due to an ongoing lack of supply and strong demand which continuesto suppress yields in both the new issue and secondarymarkets. We expect few opportunities in the near term. ▸ Investment-Grade Corporate yield spreads are historically tight and our view is that the combination of heightenedmarket volatility, fiscal policy uncertainty, and higher Q1issuance seasonality may create opportunities to increaseallocations at more attractive levels. Strength in markettechnicals and favorable fundamentals in the sector willlikely limit significant downside. As a result, we will look totactically reduce allocations in the sector to make room forfuture opportunities, with a focus on industry and creditquality-specific selectivity. ▸ Asset-Backed Securities fundamentals remain intact
and have led to strong performance in the past quarter.New-year consumer credit trends will depend on the labormarket, the resiliency of economic growth, and theconsumer’s response to monetary policy easing, whichtends to work on a lagging basis. Credit metrics areexpected to be constructive through 2025 and we willtherefore seek to maintain allocations in the sector via thereinvestment of passive cash flows in new issuance overthe coming months. ▸ Mortgage-Backed Securities are expected to produce
muted excess returns entering the new year. Since thesector is highly rate sensitive, policy uncertainty and Fedcaution may increase volatility. We may use anymeaningful spread widening to add at more attractivelevels. ▸ Short-term credit (commercial paper and negotiable
bank CDs) yields have drifted higher in response to aslower pace of rate cuts in 2025. Yield spreads also beginto drift wider, and we believe spreads of 20 to 30 basispoints offer good relative value. Given a money marketyield curve that is now positively sloped, we favor a mix offloating rate in the front end with fixed rate in longermaturities.

The views expressed within this material constitute the perspective and judgment of PFM Asset Management at the time of distribution (12/31/2024) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management cannot guarantee its accuracy, completeness, or suitability.

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

13 Negative Slightly Negative Neutral Slightly Positive Current outlook Outlook one quarter ago Positive For the Quarter Ended March 31, 2022
California Affiliated Risk Management Authorities Market Update

CLIENT NAME
For the Quarter Ended December 31, 2024
Market Update
Fixed-Income Sector Outlook – 1Q 2025
Sector Our Investment Preferences

C O M M E R C I A L P A P E R
/ C D

T R E A S U R I E S
T-Bill
T-Note

F E D E R A L A G E N C I E S
Bullets
Callables

S U P R A N A T I O N A L S

C O R P O R A T E S
Financials
Industrials

S E C U R I T I Z E D
Asset-Backed
Agency Mortgage-Backed
Agency CMBS

M U N I C I P A L S

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Market Update
PFM Asset Management | pfmam.com

14 PFM Asset Management | pfmam.com
Account Summary

PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Account Summary
Account Summary

1. Yield at market, yield on cost, and portfolio duration only include investments held within the separately managed account(s), excludes balances invested in overnight funds.

The current 7-day yield is the net change, exclusive of capital changes and income other than investment income, in the value of a hypothetical fund account with a balance of one share over the seven-day base period including the statement date, expressed as a percentage of the value of one share (normally $1.00 per share) at the beginning of the seven-day period. This resulting net change in account value is then annualized by multiplying it by 365 and dividing the result by 7. The yields quoted should not be considered a representation of the yield of the fund in the future, since the yield is not fixed.

2. LOS ALTOS HILLS - OPERATING FUND - 581-00
Portfolio Values December 31, 2024CAMP Managed Account $21,883,430 CAMP Pool $219,386
Amortized Cost $22,139,979
Market Value $21,883,430
Accrued Interest $135,467
Cash $0
Analytics¹ December 31, 2024Yield at Market 4.46%
Yield on Cost 3.74%Portfolio Duration 2.49
CAMP Pool7-Day Yield 4.65%

16 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Account Summary

1.0%

26.4%

1.9%

0.2%

14.6%

56.0%

0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
Joint Powers Authority - $219,386
Corporate - $5,865,236
Negotiable CD - $416,787
Municipal - $48,255
Agency CMBS - $3,241,197
U.S. Treasury - $12,447,422
Portfolio Allocation Sector Limit for Analysis*
Sector Allocation Analytics
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest.*Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided.

17 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Compliance
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Financial LP Asset and Investment Management ("AIM").

Certificate of Compliance
During the reporting period for the quarter ended December 31, 2024, the account(s) managed by PFM Asset Management("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged : PFM Asset Management, a division of U.S. Bancorp Asset Management, Inc.

18 PFM Asset Management | pfmam.com
Portfolio Review:

CAMP-TOWN OF LOS ALTOS HILLS

PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Snapshot
Total market value includes accrued interest and balances invested in CAMP, as of December 31, 2024.Yield and duration calculations exclude balances invested in CAMP.The portfolio’s benchmark is currently the ICE BofA 1-5 Year U.S Treasury Index. Prior to 9/30/19 it was the ICE BofA 1-3 Year U.S Treasury Index. Source: Bloomberg Financial LP.

An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.

1. Portfolio Snapshot - CAMP-TOWN OF LOS ALTOS HILLS¹
Credit Quality - S&P
5%
35%
23%
30%
7% 5%
35%
26% 24%
10%
0%
10%20%30%40%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 56%Corporate | 26%
Agency CMBS | 15%
Negotiable CD | 2%Joint Powers Authority | 1%Municipal | <1% Sector Allocation
AAAm | 1%AA+ | 71%AA | 1%AA- | 4%A+ | 8%A | 6%A- | 6%
BBB+ | 2%BBB | 1%Not Rated | <1%
Portfolio Statistics
Portfolio Effective DurationBenchmark Effective DurationPortfolio Credit Quality Yield At Market
Yield At Cost
Total Market Value
Managed Account Sub-TotalPool
$22,238,283.61
$21,883,430.39
$135,466.97
$219,386.25

2.49 years2.48 years

3.74%

4.46%
AA
Accrued Interest

20 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Characteristics
$0.0$4.6$9.2
$13.8$18.4$23.0
Millions
December 2024
$0.0$4.6$9.2
$13.8$18.4$23.0
Millions
September 2024
$0.0$4.6$9.2
$13.8$18.4$23.0
Millions
June 2024
$0.0$4.6$9.2
$13.8$18.4$23.0
Millions
March 2024
Sector Allocation Review - CAMP-TOWN OF LOS ALTOS HILLS U.S. Treasury Federal Agency Agency CMBS Municipal Negotiable CD Corporate Joint Powers Authority Market values, excluding accrued interest. Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. Detail may not add to total due to rounding.

Security Type Mar-24 % of Total Jun-24 % of Total Sep-24 % of Total Dec-24 % of Total U.S. Treasury $9.7 45.2% $10.2 47.3% $10.5 47.1% $12.4 56.0%Federal Agency $1.1 5.1% $1.0 4.5% $0.9 4.0% $0.0 0.0% Agency CMBS $3.4 16.1% $3.3 15.1% $3.5 15.7% $3.2 14.6% Municipal $0.9 4.3% $0.6 2.7% $0.4 2.0% $0.0 0.2%Negotiable CD $0.4 1.9% $0.4 1.9% $0.4 1.9% $0.4 1.9%Corporate $5.8 27.4% $6.1 28.2% $6.5 29.2% $5.8 26.3%Joint Powers Authority $0.0 0.0% $0.1 0.3% $0.0 0.1% $0.2 1.0%Total $21.4 100.0% $21.5 100.0% $22.3 100.0% $22.1 100.0%

21 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Activity
Portfolio Activity - CAMP-TOWN OF LOS ALTOS HILLS
Net Activity by Sector
($ millions)
Federal Agency
CorporateMunicipal
Agency CMBS
U.S. Treasury
Federal Agency
Corporate
Municipal
Agency CMBS
U.S. Treasury
($1.0) $0.0 $1.0 $2.0 $3.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.

Sector Net ActivityU.S. Treasury $2,018,113
Agency CMBS ($207,031)
Municipal ($399,471)Corporate ($606,889)Federal Agency ($883,950)Total Net Activity ($79,228) Sales/Maturities Purchases

22 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Performance

1. The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is March 31, 2006.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.4. The portfolio’s benchmark is currently the ICE BofA 1-5 Year U.S Treasury Index. Prior to 9/30/19 it was the ICE BofA 1-3 Year U.S Treasury Index. Source: Bloomberg Financial LP. -1.0%

0.0%1.0%2.0%3.0%4.0%
Return
Portfolio Benchmark
Portfolio Performance
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 YearsInterest Earned² $158,176 $573,456 $1,290,209 $1,908,510 $2,974,528 Change in Market Value ($288,181) $256,546 ($538,185) ($587,732) ($565,984) Total Dollar Return ($130,005) $830,002 $752,024 $1,320,778 $2,408,544 Total Return³
Portfolio -0.58% 3.87% 1.15% 1.45% 1.48%Benchmark⁴ -0.77% 3.41% 0.73% 1.05% 1.21%Difference 0.19% 0.73% 0.42% 0.40% 0.27% 3 Months 1 Year 3 Years 5 Years 10 Years

23 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Performance

1. The lesser of 10 years or since inception is shown. Performance inception date is March 31, 2006.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Realized gains / (losses) are shown on an amortized cost basis.

Accrual Basis Earnings - CAMP-TOWN OF LOS ALTOS HILLS
Accrual Basis EarningsInterest Earned²Realized Gains / (Losses)³Change in Amortized CostTotal Earnings 3 Months
$158,176
($68,096)
$45,739
$135,818
1 Year
$573,456
($167,791)
$172,153$577,818
3 Years
$1,290,209
($554,273)
$203,875
$939,811
5 Year
$1,908,510
($311,803)
$69,103
$1,665,809
10 Year¹
$2,974,528
($325,232)
$16,807
$2,666,103

24 Portfolio Holdings and Transactions
PFM Asset Management | pfmam.com

PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Summary
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balancesinvested in overnight funds.

Issuer Diversification
Security Type / Issuer Market Value (%) S&P / Moody's / FitchU.S. Treasury 56.5% United States Treasury 56.5% AA / Aaa / AA
Agency CMBS 14.7%
Federal Home Loan Mortgage Corp 13.9% AA / Aaa / AAFederal National Mortgage Association 0.9% AA / Aaa / AA Municipal 0.2%
Los Angeles Unified School District/CA 0.2% NR / Aa / AAA Negotiable CD 1.9%
Cooperatieve Rabobank UA 1.2% A / Aa / AAGroupe BPCE 0.7% A / A / A Corporate 26.6%
Adobe Inc 0.4% A / A / NRAmazon.com Inc 0.7% AA / A / AAAmerican Express Co 0.9% A / A / AAnalog Devices Inc 0.6% A / A / AAutomatic Data Processing Inc 1.0% AA / Aa / AA Bank of America Corp 1.4% A / Aa / AABank of New York Mellon Corp 0.4% A / Aa / AABlackRock Inc 1.1% AA / Aa / NRBP PLC 0.5% A / A / ABristol-Myers Squibb Co 0.6% A / A / NRCaterpillar Inc 0.9% A / A / ACisco Systems Inc 0.5% AA / A / NRCitigroup Inc 1.3% A / Aa / AComcast Corp 0.5% A / A / ADeere & Co 0.6% A / A / A Security Type / Issuer Market Value (%) S&P / Moody's / FitchCorporate 26.6% Goldman Sachs Group Inc 1.4% BBB / A / AHershey Co 0.2% A / A / NRHome Depot Inc 0.5% A / A / AHonda Motor Co Ltd 0.8% A / A / AHoneywell International Inc 0.4% A / A / A Intel Corp 0.7% BBB / Baa / BBBInternational Business Machines Corp 0.7% A / A / AJPMorgan Chase & Co 0.9% A / A / AALockheed Martin Corp 0.3% A / A / AMerck & Co Inc 0.3% A / A / NRMeta Platforms Inc 0.5% AA / Aa / NRMorgan Stanley 0.4% A / A / ANational Australia Bank Ltd 1.1% AA / Aa / NR National Rural Utilities Cooperative Fi 0.6% A / A / A
Northern Trust Corp 0.5% A / A / APACCAR Inc 0.7% A / A / NRPepsiCo Inc 0.5% A / A / NRPNC Financial Services Group Inc 0.5% A / A / AState Street Corp 1.1% A / Aa / AA Toyota Motor Corp 0.7% A / A / ATruist Financial Corp 0.7% A / Baa / AUnitedHealth Group Inc 0.7% A / A / AWalmart Inc 0.3% AA / Aa / AAWells Fargo & Co 0.8% BBB / A / A Total 100.0%

26 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Composition
Issuer Distribution
As of December 31, 2024
Issuer Market Value ($) % of Portfolio
UNITED STATES TREASURY 12,391,297 56.05%FEDERAL HOME LOAN MORTGAGE CORP 3,042,760 13.76%BANK OF AMERICA CORP 303,948 1.37%GOLDMAN SACHS GROUP INC 296,125 1.34%CITIGROUP INC 273,813 1.24%COOPERATIEVE RABOBANK UA 254,855 1.15%NATIONAL AUSTRALIA BANK LTD 251,304 1.14%STATE STREET CORP 242,220 1.10%BLACKROCK INC 240,213 1.09% AUTOMATIC DATA PROCESSING INC 228,317 1.03%
CAMP POOL 219,386 0.99%
AMERICAN EXPRESS CO 189,531 0.86%
CATERPILLAR INC 189,309 0.86%JPMORGAN CHASE & CO 188,708 0.85%FEDERAL NATIONAL MORTGAGE ASSOCIATION 187,327 0.85%HONDA MOTOR CO LTD 175,062 0.79%WELLS FARGO & CO 164,829 0.75%TOYOTA MOTOR CORP 157,630 0.71%INTEL CORP 155,173 0.70%GROUPE BPCE 153,692 0.70%TRUIST FINANCIAL CORP 153,432 0.69%INTERNATIONAL BUSINESS MACHINES CORP 151,993 0.69% AMAZON.COM INC 150,911 0.68%
PACCAR INC 149,141 0.67%

27 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Composition
Issuer Market Value ($) % of PortfolioUNITEDHEALTH GROUP INC 147,064 0.67%DEERE & CO 138,415 0.63% ANALOG DEVICES INC 134,636 0.61%
NATIONAL RURAL UTILITIES COOPERATIVE FI 125,225 0.57%BRISTOL-MYERS SQUIBB CO 122,359 0.55%PNC FINANCIAL SERVICES GROUP INC 120,574 0.55%COMCAST CORP 119,484 0.54%BP PLC 116,248 0.53%HOME DEPOT INC 111,651 0.51%CISCO SYSTEMS INC 110,692 0.50%PEPSICO INC 104,789 0.47%META PLATFORMS INC 100,123 0.45%NORTHERN TRUST CORP 98,682 0.45%BANK OF NEW YORK MELLON CORP 95,217 0.43%HONEYWELL INTERNATIONAL INC 93,050 0.42%MORGAN STANLEY 88,372 0.40% ADOBE INC 85,452 0.39%
WALMART INC 73,627 0.33%LOCKHEED MARTIN CORP 59,565 0.27%MERCK & CO INC 59,109 0.27%LOS ANGELES UNIFIED SCHOOL DISTRICT/CA 47,891 0.22%HERSHEY CO 39,618 0.18% Grand Total 22,102,817 100.00%

28 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Holdings
Managed Account Detail of Securities Held
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/BDTD 11/02/2020 0.250% 10/31/2025
91282CAT8 295,000.00 AA+ Aaa 9/8/2021 9/9/2021 289,941.21 0.67 126.31 293,986.90 285,490.97 US TREASURY N/BDTD 11/30/2023 4.875% 11/30/2025
91282CJL6 240,000.00 AA+ Aaa 10/10/2024 10/11/2024 241,753.13 4.21 1,028.57 241,413.47 241,299.36 US TREASURY N/BDTD 12/31/2020 0.375% 12/31/2025
91282CBC4 185,000.00 AA+ Aaa 1/29/2021 2/2/2021 184,602.54 0.42 1.92 184,919.31 178,139.09 US TREASURY N/BDTD 12/31/2020 0.375% 12/31/2025
91282CBC4 360,000.00 AA+ Aaa 5/5/2021 5/7/2021 354,164.06 0.73 3.73 358,749.69 346,649.04 US TREASURY N/BDTD 02/01/2021 0.375% 01/31/2026
91282CBH3 195,000.00 AA+ Aaa 9/1/2021 9/3/2021 192,356.84 0.69 306.01 194,351.93 187,100.94 US TREASURY N/BDTD 02/01/2021 0.375% 01/31/2026
91282CBH3 315,000.00 AA+ Aaa 7/2/2021 7/7/2021 308,946.09 0.80 494.33 313,567.23 302,239.98 US TREASURY N/BDTD 02/01/2021 0.375% 01/31/2026
91282CBH3 85,000.00 AA+ Aaa 2/25/2021 2/26/2021 83,359.77 0.77 133.39 84,640.06 81,556.82 US TREASURY N/BDTD 02/29/2024 4.625% 02/28/2026
91282CKB6 150,000.00 AA+ Aaa 3/4/2024 3/5/2024 150,105.47 4.59 2,357.22 150,071.90 150,603.45 US TREASURY N/BDTD 04/17/2023 3.750% 04/15/2026
91282CGV7 330,000.00 AA+ Aaa 4/4/2024 4/5/2024 324,121.88 4.68 2,651.79 326,274.54 327,898.89 US TREASURY N/BDTD 06/01/2021 0.750% 05/31/2026
91282CCF6 480,000.00 AA+ Aaa 12/1/2021 12/3/2021 471,450.00 1.16 316.48 477,315.09 457,143.84 US TREASURY N/BDTD 06/01/2021 0.750% 05/31/2026
91282CCF6 350,000.00 AA+ Aaa 2/15/2022 2/17/2022 332,691.41 1.96 230.77 344,300.56 333,334.05 US TREASURY N/BDTD 06/30/2021 0.875% 06/30/2026
91282CCJ8 300,000.00 AA+ Aaa 8/2/2021 8/4/2021 303,046.88 0.66 7.25 300,927.16 285,433.50 US TREASURY N/BDTD 07/17/2023 4.500% 07/15/2026
91282CHM6 200,000.00 AA+ Aaa 2/1/2024 2/5/2024 202,234.38 4.01 4,157.61 201,404.32 200,711.00 US TREASURY N/BDTD 08/31/2021 0.750% 08/31/2026
91282CCW9 175,000.00 AA+ Aaa 9/8/2021 9/9/2021 174,555.66 0.80 445.96 174,851.56 165,251.98 US TREASURY N/BDTD 10/31/2019 1.625% 10/31/2026
912828YQ7 1,000,000.00 AA+ Aaa 10/28/2024 10/31/2024 952,539.06 4.12 2,783.15 956,480.77 954,258.00

29 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/BDTD 10/31/2019 1.625% 10/31/2026
912828YQ7 200,000.00 AA+ Aaa 12/14/2021 12/16/2021 203,593.75 1.24 556.63 201,348.67 190,851.60 US TREASURY N/BDTD 11/15/2016 2.000% 11/15/2026
912828U24 110,000.00 AA+ Aaa 11/1/2024 11/5/2024 105,441.02 4.15 285.64 105,782.46 105,565.68 US TREASURY N/BDTD 11/15/2016 2.000% 11/15/2026
912828U24 100,000.00 AA+ Aaa 11/20/2024 11/22/2024 95,699.22 4.29 259.67 95,931.51 95,968.80 US TREASURY N/BDTD 11/30/2021 1.250% 11/30/2026
91282CDK4 150,000.00 AA+ Aaa 12/1/2021 12/3/2021 150,427.73 1.19 164.84 150,163.77 141,802.80 US TREASURY N/BDTD 12/31/2021 1.250% 12/31/2026
91282CDQ1 235,000.00 AA+ Aaa 1/3/2022 1/5/2022 233,898.44 1.35 8.11 234,559.01 221,625.21 US TREASURY N/BDTD 02/15/2017 2.250% 02/15/2027
912828V98 155,000.00 AA+ Aaa 8/1/2022 8/5/2022 151,833.40 2.73 1,317.29 153,517.15 148,733.35 US TREASURY N/BDTD 02/15/2017 2.250% 02/15/2027
912828V98 145,000.00 AA+ Aaa 8/4/2022 8/8/2022 141,352.34 2.85 1,232.30 143,288.78 139,137.65 US TREASURY N/BDTD 03/02/2020 1.125% 02/28/2027
912828ZB9 175,000.00 AA+ Aaa 9/6/2023 9/8/2023 155,572.27 4.62 668.94 162,936.13 163,802.80 US TREASURY N/BDTD 08/01/2022 2.750% 07/31/2027
91282CFB2 215,000.00 AA+ Aaa 1/2/2024 1/5/2024 205,988.48 4.02 2,474.25 208,492.06 207,038.33 US TREASURY N/BDTD 08/01/2022 2.750% 07/31/2027
91282CFB2 220,000.00 AA+ Aaa 8/1/2024 8/2/2024 212,265.63 4.01 2,531.79 213,280.60 211,853.18 US TREASURY N/BDTD 08/15/2017 2.250% 08/15/2027
9128282R0 125,000.00 AA+ Aaa 11/1/2022 11/4/2022 114,296.88 4.25 1,062.33 119,136.28 118,803.75 US TREASURY N/BDTD 08/15/2017 2.250% 08/15/2027
9128282R0 360,000.00 AA+ Aaa 12/5/2022 12/7/2022 336,726.56 3.77 3,059.51 347,003.85 342,154.80 US TREASURY N/BDTD 08/15/2017 2.250% 08/15/2027
9128282R0 150,000.00 AA+ Aaa 9/3/2024 9/5/2024 143,595.70 3.80 1,274.80 144,260.86 142,564.50 US TREASURY N/BDTD 08/15/2017 2.250% 08/15/2027
9128282R0 220,000.00 AA+ Aaa 9/4/2024 9/5/2024 211,371.88 3.67 1,869.70 212,269.26 209,094.60 US TREASURY N/BDTD 09/30/2020 0.375% 09/30/2027
91282CAL5 200,000.00 AA+ Aaa 2/1/2024 2/5/2024 176,578.13 3.84 191.62 182,394.06 179,953.20 US TREASURY N/BDTD 11/02/2020 0.500% 10/31/2027
91282CAU5 200,000.00 AA+ Aaa 1/3/2023 1/5/2023 169,828.13 3.97 171.27 182,291.17 180,000.00 US TREASURY N/BDTD 11/02/2020 0.500% 10/31/2027
91282CAU5 425,000.00 AA+ Aaa 12/2/2024 12/5/2024 382,699.22 4.18 363.95 383,729.36 382,500.00

30 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/BDTD 11/15/2017 2.250% 11/15/2027
9128283F5 500,000.00 AA+ Aaa 1/30/2023 1/31/2023 468,417.97 3.70 1,460.64 481,076.06 472,676.00 US TREASURY N/BDTD 01/03/2023 3.875% 12/31/2027
91282CGC9 120,000.00 AA+ Aaa 4/24/2023 4/26/2023 121,289.06 3.62 12.85 120,824.70 118,607.76 US TREASURY N/BDTD 01/03/2023 3.875% 12/31/2027
91282CGC9 215,000.00 AA+ Aaa 6/3/2024 6/5/2024 209,935.74 4.60 23.01 210,692.00 212,505.57 US TREASURY N/BDTD 04/30/2021 1.250% 04/30/2028
91282CBZ3 50,000.00 AA+ Aaa 6/1/2023 6/5/2023 44,421.88 3.76 107.04 46,215.85 45,291.00 US TREASURY N/BDTD 06/30/2021 1.250% 06/30/2028
91282CCH2 550,000.00 AA+ Aaa 11/3/2023 11/6/2023 475,298.83 4.52 18.99 493,864.14 495,493.90 US TREASURY N/BDTD 11/01/2021 1.375% 10/31/2028
91282CDF5 270,000.00 AA+ Aaa 2/29/2024 3/5/2024 237,304.69 4.27 635.84 243,109.50 241,797.69 US TREASURY N/BDTD 11/01/2021 1.375% 10/31/2028
91282CDF5 250,000.00 AA+ Aaa 1/2/2024 1/5/2024 222,041.02 3.95 588.74 227,788.41 223,886.75 US TREASURY N/BDTD 11/15/2018 3.125% 11/15/2028
9128285M8 200,000.00 AA+ Aaa 12/4/2023 12/7/2023 190,031.25 4.25 811.46 192,190.69 191,351.60 US TREASURY N/BDTD 11/15/2018 3.125% 11/15/2028
9128285M8 240,000.00 AA+ Aaa 12/5/2023 12/6/2023 228,628.13 4.20 973.76 231,096.44 229,621.92 US TREASURY N/BDTD 11/15/2018 3.125% 11/15/2028
9128285M8 100,000.00 AA+ Aaa 3/26/2024 3/28/2024 95,179.69 4.28 405.73 95,974.06 95,675.80 US TREASURY N/BDTD 01/31/2022 1.750% 01/31/2029
91282CDW8 170,000.00 AA+ Aaa 2/1/2024 2/5/2024 154,401.17 3.79 1,244.97 157,234.99 153,491.47 US TREASURY N/BDTD 02/15/2019 2.625% 02/15/2029
9128286B1 250,000.00 AA+ Aaa 6/3/2024 6/5/2024 230,214.84 4.51 2,478.77 232,412.30 233,701.25 US TREASURY N/BDTD 02/15/2019 2.625% 02/15/2029
9128286B1 350,000.00 AA+ Aaa 4/29/2024 5/2/2024 319,388.67 4.68 3,470.28 323,251.47 327,181.75 US TREASURY N/BDTD 05/02/2022 2.875% 04/30/2029
91282CEM9 240,000.00 AA+ Aaa 8/1/2024 8/2/2024 229,621.88 3.88 1,181.77 230,458.01 225,871.92 US TREASURY N/BDTD 05/02/2022 2.875% 04/30/2029
91282CEM9 165,000.00 AA+ Aaa 7/1/2024 7/2/2024 153,688.48 4.47 812.47 154,751.51 155,286.95 US TREASURY N/BDTD 06/30/2022 3.250% 06/30/2029
91282CEV9 190,000.00 AA+ Aaa 9/3/2024 9/5/2024 185,762.11 3.76 17.06 186,021.07 181,279.38 US TREASURY N/BDTD 06/30/2022 3.250% 06/30/2029
91282CEV9 125,000.00 AA+ Aaa 9/4/2024 9/5/2024 122,919.92 3.63 11.22 123,047.39 119,262.75

31 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury
US TREASURY N/BDTD 08/01/2022 2.625% 07/31/2029
91282CFC0 290,000.00 AA+ Aaa 10/1/2024 10/3/2024 278,683.20 3.51 3,185.67 279,212.16 269,008.93 US TREASURY N/BDTD 09/30/2022 3.875% 09/30/2029
91282CFL0 225,000.00 AA+ Aaa 11/1/2024 11/5/2024 221,888.67 4.19 2,227.59 221,979.73 220,078.13 US TREASURY N/BDTD 09/30/2022 3.875% 09/30/2029
91282CFL0 140,000.00 AA+ Aaa 10/28/2024 10/31/2024 138,457.81 4.12 1,386.06 138,506.68 136,937.50 US TREASURY N/BDTD 10/31/2022 4.000% 10/31/2029
91282CFT3 270,000.00 AA+ Aaa 12/2/2024 12/5/2024 268,312.50 4.14 1,849.72 268,336.75 265,422.69 US TREASURY N/BDTD 10/31/2022 4.000% 10/31/2029
91282CFT3 100,000.00 AA+ Aaa 11/20/2024 11/22/2024 98,660.16 4.30 685.08 98,687.52 98,304.70 Security Type Sub-Total 13,055,000.00 12,451,584.83 3.29 56,125.85 12,600,370.90 12,391,296.57 Negotiable CD
COOPERAT RABOBANK UA/NYDTD 07/20/2023 5.080% 07/17/2026 21684LGS5 250,000.00 A+ Aa2 7/17/2023 7/20/2023 250,000.00 5.08 5,785.56 250,000.00 254,855.00 NATIXIS NY BRANCHDTD 09/20/2023 5.610% 09/18/2026
63873QP65 150,000.00 A+ A1 9/18/2023 9/20/2023 150,000.00 5.61 2,454.38 150,000.00 153,692.10 Security Type Sub-Total 400,000.00 400,000.00 5.28 8,239.94 400,000.00 408,547.10 Municipal
LOS ANGELES UN SD-BDTD 11/10/2021 1.455% 07/01/2026
544647FC9 50,000.00 NR Aa2 10/28/2021 11/10/2021 50,000.00 1.46 363.75 50,000.00 47,890.80 Security Type Sub-Total 50,000.00 50,000.00 1.46 363.75 50,000.00 47,890.80 Joint Powers Authority
CAMP Pool 219,386.25 AAAm NR 219,386.25 0.00 219,386.25 219,386.25 Security Type Sub-Total 219,386.25 219,386.25 0.00 219,386.25 219,386.25

32 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
CITIGROUP INC (CALLABLE)DTD 01/25/2022 2.014% 01/25/2026 17327CAN3 25,000.00 BBB+ A3 1/18/2022 1/25/2022 25,000.00 2.01 218.18 25,000.00 24,944.30 GOLDMAN SACHS GROUP INC(CALLABLE)DTD 02/12/2021 0.855% 02/12/2026 38141GXS8 125,000.00 BBB+ A2 2/12/2021 2/17/2021 125,255.00 0.81 412.66 125,056.97 124,383.25 JPMORGAN CHASE & CO(CALLABLE)DTD 03/23/2016 3.300% 04/01/2026 46625HQW3 105,000.00 A A1 7/19/2023 7/21/2023 100,150.05 5.16 866.25 102,750.02 103,398.75 TOYOTA MOTOR CREDIT CORPDTD 06/18/2021 1.125% 06/18/2026 89236TJK2 75,000.00 A+ A1 9/8/2021 9/13/2021 74,833.50 1.17 30.47 74,948.84 71,424.68 STATE STREET CORP (CALLABLE)DTD 08/03/2023 5.272% 08/03/2026 857477CD3 65,000.00 A Aa3 8/1/2023 8/3/2023 65,023.40 5.26 1,408.80 65,012.08 65,640.84 STATE STREET CORP (CALLABLE)DTD 08/03/2023 5.272% 08/03/2026 857477CD3 85,000.00 A Aa3 7/31/2023 8/3/2023 85,000.00 5.27 1,842.27 85,000.00 85,838.02 BANK OF AMERICA NA (CALLABLE)DTD 08/18/2023 5.526% 08/18/2026 06428CAA2 300,000.00 A+ Aa1 8/14/2023 8/18/2023 300,000.00 5.53 6,124.65 300,000.00 303,948.00

AMERICAN HONDA FINANCE
DTD 09/09/2021 1.300% 09/09/2026
02665WDZ1 100,000.00 A- A3 11/29/2021 12/1/2021 98,522.00 1.62 404.44 99,476.94 94,516.80 CATERPILLAR FINL SERVICEDTD 09/14/2021 1.150% 09/14/2026 14913R2Q9 200,000.00 A A2 11/29/2021 12/1/2021 196,978.00 1.48 683.61 198,924.85 189,308.80 HOME DEPOT INC (CALLABLE)DTD 09/15/2016 2.125% 09/15/2026 437076BN1 90,000.00 A A2 8/18/2023 8/22/2023 82,573.20 5.07 563.13 85,865.77 86,598.09 WELLS FARGO & COMPANYDTD 10/25/2016 3.000% 10/23/2026
949746SH5 170,000.00 BBB+ A1 7/14/2023 7/18/2023 158,934.70 5.19 963.33 163,859.94 164,828.94

AMERICAN EXPRESS CO (CALLABLE)
DTD 11/04/2021 1.650% 11/04/2026
025816CM9 200,000.00 A- A2 11/29/2021 12/1/2021 199,538.00 1.70 522.50 199,827.24 189,530.80 JOHN DEERE CAPITAL CORPDTD 01/10/2022 1.700% 01/11/2027 24422EWA3 125,000.00 A A1 1/11/2022 1/13/2022 124,295.00 1.82 1,003.47 124,713.77 118,221.75 COMCAST CORP (CALLABLE)DTD 07/19/2016 2.350% 01/15/2027 20030NBW0 125,000.00 A- A3 4/24/2023 4/26/2023 116,687.50 4.30 1,354.51 120,443.33 119,484.25 MORGAN STANLEYDTD 01/20/2017 3.625% 01/20/2027
61746BEF9 90,000.00 A- A1 7/14/2023 7/18/2023 85,723.20 5.12 1,459.06 87,495.60 88,372.26 BANK OF NY MELLON CORP(CALLABLE)DTD 01/26/2022 2.050% 01/26/2027 06406RBA4 100,000.00 A Aa3 1/26/2022 1/28/2022 100,121.00 2.02 882.64 100,048.85 95,217.20

33 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
GOLDMAN SACHS GROUP INC(CALLABLE)DTD 01/26/2017 3.850% 01/26/2027 38141GWB6 175,000.00 BBB+ A2 7/1/2022 7/6/2022 169,972.25 4.55 2,900.87 172,716.05 171,741.50 IBM CORP (CALLABLE)DTD 02/09/2022 2.200% 02/09/2027
459200KM2 160,000.00 A- A3 2/23/2022 2/25/2022 158,025.60 2.47 1,388.44 159,161.10 151,993.12 HONEYWELL INTERNATIONAL(CALLABLE)DTD 08/16/2021 1.100% 03/01/2027 438516CE4 100,000.00 A A2 3/1/2022 3/3/2022 95,328.00 2.09 366.67 97,973.21 93,050.10 TRUIST FINANCIAL CORP(CALLABLE)DTD 03/02/2021 1.267% 03/02/2027 89788MAD4 160,000.00 A- Baa1 3/10/2022 3/14/2022 150,336.00 2.57 670.10 155,778.76 153,431.52 STATE STREET CORP (CALLABLE)DTD 03/18/2024 4.993% 03/18/2027 857477CL5 90,000.00 A Aa3 3/13/2024 3/18/2024 90,000.00 4.99 1,285.70 90,000.00 90,740.97 NORTHERN TRUST CORP(CALLABLE)DTD 05/10/2022 4.000% 05/10/2027 665859AW4 100,000.00 A+ A2 5/10/2022 5/12/2022 100,966.00 3.79 566.67 100,447.49 98,681.70 UNITEDHEALTH GROUP INC(CALLABLE)DTD 05/20/2022 3.700% 05/15/2027 91324PEG3 120,000.00 A+ A2 6/2/2022 6/6/2022 120,979.20 3.52 567.33 120,461.33 117,650.88 UNITEDHEALTH GROUP INC(CALLABLE)DTD 05/20/2022 3.700% 05/15/2027 91324PEG3 30,000.00 A+ A2 5/17/2022 5/20/2022 29,983.80 3.71 141.83 29,992.29 29,412.72 PNC FINANCIAL SERVICES(CALLABLE)DTD 05/19/2017 3.150% 05/19/2027 693475AT2 125,000.00 A- A3 8/4/2022 8/8/2022 122,647.50 3.58 459.38 123,827.17 120,573.50 INTEL CORP (CALLABLE)DTD 08/05/2022 3.750% 08/05/2027
458140BY5 160,000.00 BBB Baa1 8/10/2022 8/12/2022 160,193.60 3.72 2,433.33 160,099.27 155,173.44 BP CAP MARKETS AMERICA(CALLABLE)DTD 05/17/2024 5.017% 11/17/2027 10373QBY5 115,000.00 A- A1 5/15/2024 5/17/2024 115,000.00 5.02 705.17 115,000.00 116,247.75 AMAZON.COM INC (CALLABLE)
DTD 12/01/2022 4.550% 12/01/2027
023135CP9 150,000.00 AA A1 12/6/2022 12/7/2022 150,585.00 4.46 568.75 150,338.27 150,911.40 JPMORGAN CHASE & CO(CALLABLE)DTD 01/23/2024 5.040% 01/23/2028 46647PEA0 85,000.00 A A1 1/16/2024 1/23/2024 85,000.00 5.04 1,880.20 85,000.00 85,308.98

34 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
BRISTOL-MYERS SQUIBB CO(CALLABLE)DTD 07/15/2020 3.900% 02/20/2028 110122DE5 125,000.00 A A2 3/14/2023 3/17/2023 121,061.25 4.62 1,773.96 122,491.91 122,358.63 NATIONAL RURAL UTIL COOP(CALLABLE)DTD 12/16/2022 4.800% 03/15/2028 63743HFG2 125,000.00 A- A2 5/25/2023 5/30/2023 124,590.00 4.88 1,766.67 124,725.72 125,224.50 WALMART INC (CALLABLE)DTD 04/18/2023 3.900% 04/15/2028
931142FB4 75,000.00 AA Aa2 4/12/2023 4/18/2023 74,862.00 3.94 617.50 74,909.08 73,626.67 HERSHEY COMPANY (CALLABLE)DTD 05/04/2023 4.250% 05/04/2028 427866BH0 40,000.00 A A1 5/1/2023 5/4/2023 39,942.80 4.28 269.17 39,961.77 39,618.08 LOCKHEED MARTIN CORP(CALLABLE)DTD 05/25/2023 4.450% 05/15/2028 539830BZ1 45,000.00 A- A2 6/2/2023 6/6/2023 44,838.00 4.53 255.88 44,889.45 44,673.89 LOCKHEED MARTIN CORP(CALLABLE)DTD 05/25/2023 4.450% 05/15/2028 539830BZ1 15,000.00 A- A2 5/23/2023 5/25/2023 14,973.00 4.49 85.29 14,981.69 14,891.30 META PLATFORMS INC (CALLABLE)DTD 05/03/2023 4.600% 05/15/2028 30303M8L9 100,000.00 AA- Aa3 6/1/2023 6/5/2023 100,150.00 4.56 587.78 100,102.30 100,123.40

AUTOMATIC DATA PROCESSNG
(CALLABLE)DTD 05/14/2021 1.700% 05/15/2028
053015AG8 250,000.00 AA- Aa3 5/25/2023 5/30/2023 220,097.50 4.41 543.06 229,662.95 228,316.50 MERCK & CO INC (CALLABLE)DTD 05/17/2023 4.050% 05/17/2028 58933YBH7 60,000.00 A+ A1 5/8/2023 5/17/2023 59,951.40 4.07 297.00 59,967.17 59,109.42 NATIONAL AUSTRALIA BK/NYDTD 06/13/2023 4.900% 06/13/2028 63253QAE4 250,000.00 AA- Aa2 6/6/2023 6/13/2023 249,572.50 4.94 612.50 249,705.03 251,304.00

AMERICAN HONDA FINANCE
DTD 07/07/2023 5.125% 07/07/2028
02665WEM9 80,000.00 A- A3 7/5/2023 7/7/2023 79,964.80 5.14 1,981.67 79,975.24 80,545.12 JOHN DEERE CAPITAL CORPDTD 07/14/2023 4.950% 07/14/2028 24422EXB0 20,000.00 A A1 7/11/2023 7/14/2023 19,970.20 4.98 459.25 19,978.92 20,193.20 PACCAR FINANCIAL CORPDTD 08/10/2023 4.950% 08/10/2028
69371RS64 100,000.00 A+ A1 8/3/2023 8/10/2023 99,842.00 4.99 1,938.75 99,885.98 100,770.50 TOYOTA MOTOR CREDIT CORPDTD 09/11/2023 5.250% 09/11/2028 89236TLB9 85,000.00 A+ A1 9/6/2023 9/11/2023 84,852.10 5.29 1,363.54 84,887.29 86,205.72

ANALOG DEVICES INC (CALLABLE)
DTD 10/05/2021 1.700% 10/01/2028
032654AU9 150,000.00 A- A2 10/30/2023 11/1/2023 125,841.00 5.48 637.50 131,573.64 134,636.10

35 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
CISCO SYSTEMS INC (CALLABLE)DTD 02/26/2024 4.850% 02/26/2029 17275RBR2 110,000.00 AA- A1 2/21/2024 2/26/2024 109,961.50 4.86 1,852.43 109,967.68 110,692.45 BLACKROCK FUNDING INC(CALLABLE)DTD 03/14/2024 4.700% 03/14/2029 09290DAA9 225,000.00 AA- Aa3 3/7/2024 3/14/2024 225,555.75 4.64 3,143.13 225,475.95 225,199.58 BLACKROCK FUNDING INC(CALLABLE)DTD 03/14/2024 4.700% 03/14/2029 09290DAA9 15,000.00 AA- Aa3 3/5/2024 3/14/2024 14,972.85 4.74 209.54 14,976.82 15,013.31

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 85,000.00 A+ A1 4/1/2024 4/4/2024 84,873.35 4.83 986.00 84,890.33 85,451.61 HOME DEPOT INC (CALLABLE)DTD 06/25/2024 4.750% 06/25/2029 437076DC3 25,000.00 A A2 6/17/2024 6/25/2024 24,838.75 4.90 19.79 24,853.67 25,052.90 PEPSICO INC (CALLABLE)DTD 07/17/2024 4.500% 07/17/2029
713448FX1 105,000.00 A+ A1 7/15/2024 7/17/2024 104,837.25 4.53 2,152.50 104,851.04 104,788.95 CITIBANK NA (CALLABLE)DTD 08/06/2024 4.838% 08/06/2029
17325FBK3 250,000.00 A+ Aa3 8/5/2024 8/6/2024 251,997.50 4.66 4,871.60 251,850.41 248,869.00 PACCAR FINANCIAL CORPDTD 09/26/2024 4.000% 09/26/2029
69371RT48 50,000.00 A+ A1 9/23/2024 9/26/2024 49,897.00 4.05 527.78 49,902.01 48,370.35 Security Type Sub-Total 5,935,000.00 5,815,094.00 4.06 59,626.70 5,863,685.19 5,805,609.49 Agency CMBS
FHMS K058 A2DTD 11/01/2016 2.653% 08/01/2026
3137BSP72 200,000.00 AA+ Aaa 4/12/2023 4/17/2023 190,898.44 4.10 442.17 195,524.56 194,111.20 FHMS K061 A2DTD 01/01/2017 3.347% 11/01/2026
3137BTUM1 136,503.99 AA+ Aaa 5/19/2023 5/24/2023 132,302.23 4.29 380.73 134,224.84 133,229.80 FHMS K063 A2DTD 03/01/2017 3.430% 01/01/2027
3137BVZ82 200,000.00 AA+ Aaa 5/19/2023 5/24/2023 193,945.31 4.32 571.67 196,589.94 195,654.80 FHMS K064 A2DTD 05/01/2017 3.224% 03/01/2027
3137BXQY1 225,000.00 AA+ Aaa 8/16/2023 8/18/2023 212,238.28 4.94 604.50 217,089.11 218,833.43 FHMS K065 A2DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 215,000.00 AA+ Aaa 6/8/2023 6/13/2023 206,022.07 4.42 581.04 209,620.98 208,722.00 FHMS K743 A2DTD 06/01/2021 1.770% 05/01/2028
3137H14B9 230,000.00 AA+ Aaa 8/10/2023 8/15/2023 201,303.91 4.68 339.25 209,579.06 209,439.15

36 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Holdings
Security Type/DescriptionDated Date/Coupon/Maturity CUSIP Par S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Agency CMBS
FHMS K505 A2DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 200,000.00 AA+ Aaa 7/13/2023 7/20/2023 201,997.60 4.59 803.17 201,411.26 200,455.40 FHMS KJ46 A1DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 158,350.52 AA+ Aaa 7/19/2023 7/27/2023 158,346.55 4.78 630.37 158,347.70 157,893.21 FNA 2023-M6 A2DTD 07/01/2023 4.181% 07/01/2028
3136BQDE6 191,107.98 AA+ Aaa 7/18/2023 7/31/2023 187,868.11 4.58 665.85 188,789.14 187,326.53 FHMS K508 A2DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 200,000.00 AA+ Aaa 10/11/2023 10/19/2023 195,612.80 5.25 790.00 196,593.46 199,941.80 FHMS KJ47 A1DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 108,169.91 AA+ Aaa 9/19/2023 9/28/2023 108,169.37 5.27 475.23 108,169.55 109,151.66 FHMS K506 A2DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 210,000.00 AA+ Aaa 9/7/2023 9/14/2023 206,893.47 4.99 813.75 207,633.00 209,544.72 FHMS K509 A2DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 150,000.00 AA+ Aaa 10/25/2023 10/31/2023 145,217.55 5.60 606.25 146,180.26 150,585.00 FHMS K507 A2DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 200,000.00 AA+ Aaa 9/20/2023 9/28/2023 197,609.40 5.07 800.00 198,126.83 200,388.80 FHMS K511 A2DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 110,000.00 AA+ Aaa 11/28/2023 12/7/2023 109,683.97 4.93 445.50 109,746.49 110,354.97 FHMS K510 A2DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 75,000.00 AA+ Aaa 11/14/2023 11/21/2023 74,783.18 5.14 316.81 74,827.31 75,813.90 FHMS K512 A2DTD 12/01/2023 5.000% 11/01/2028
3137HBCF9 105,000.00 AA+ Aaa 12/11/2023 12/21/2023 105,980.49 4.79 437.50 105,795.42 105,906.36 FHMS K524 A2DTD 07/01/2024 4.720% 05/01/2029
3137HDV56 170,000.00 AA+ Aaa 7/16/2024 7/25/2024 171,043.97 4.58 668.67 170,975.22 169,651.33 FHMS K526 A2DTD 08/01/2024 4.543% 07/01/2029
3137HDXL9 195,000.00 AA+ Aaa 8/7/2024 8/15/2024 196,824.03 4.33 738.24 196,698.67 193,082.37 Security Type Sub-Total 3,279,132.40 3,196,740.73 4.74 11,110.70 3,225,922.80 3,230,086.43 Managed Account Sub Total 22,719,132.40 21,913,419.56 135,466.94 21,883,430.39Securities Sub TotalAccrued Interest $22,938,518.65 $22,132,805.81 $135,466.94 $22,102,816.64 $135,466.94
22,139,978.89
$22,359,365.14

3.74 3.74%
Total Investments $22,238,283.58

37 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY10/1/2024 10/3/2024 290,000.00 91282CFC0 US TREASURY N/B 2.62% 7/31/2029 280,007.11 3.51%10/10/2024 10/11/2024 240,000.00 91282CJL6 US TREASURY N/B 4.87% 11/30/2025 246,004.77 4.21%10/28/2024 10/31/2024 1,000,000.00 912828YQ7 US TREASURY N/B 1.62% 10/31/2026 952,539.06 4.12%10/28/2024 10/31/2024 140,000.00 91282CFL0 US TREASURY N/B 3.87% 9/30/2029 138,919.83 4.12%11/1/2024 11/5/2024 110,000.00 912828U24 US TREASURY N/B 2.00% 11/15/2026 106,481.24 4.15%11/1/2024 11/5/2024 225,000.00 91282CFL0 US TREASURY N/B 3.87% 9/30/2029 222,750.96 4.19%11/20/2024 11/22/2024 100,000.00 91282CFT3 US TREASURY N/B 4.00% 10/31/2029 98,903.25 4.30%11/20/2024 11/22/2024 100,000.00 912828U24 US TREASURY N/B 2.00% 11/15/2026 95,737.89 4.29%12/2/2024 12/5/2024 425,000.00 91282CAU5 US TREASURY N/B 0.50% 10/31/2027 382,904.68 4.18%12/2/2024 12/5/2024 270,000.00 91282CFT3 US TREASURY N/B 4.00% 10/31/2029 269,356.70 4.14% Total BUY 2,900,000.00 2,793,605.49 0.00
CALL10/21/2024 10/21/2024 75,000.00 61747YEG6 MORGAN STANLEY (CALLABLE) 1.16% 10/21/2025 75,000.00 1.16% Total CALL 75,000.00 75,000.00 0.00
INTEREST10/1/2024 10/1/2024 032654AU9 ANALOG DEVICES INC (CALLABLE) 1.70% 10/1/2028 1,275.0010/1/2024 10/1/2024 46625HQW3 JPMORGAN CHASE & CO (CALLABLE) 3.30% 4/1/2026 1,732.50

38 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST10/1/2024 10/25/2024 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 606.2510/1/2024 10/25/2024 3137FLN34 FHMS K734 A2 3.20% 2/1/2026 544.7010/1/2024 10/25/2024 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 383.0710/1/2024 10/25/2024 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 442.1710/1/2024 10/25/2024 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 604.5010/1/2024 10/25/2024 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 800.0010/1/2024 10/25/2024 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 339.2510/1/2024 10/25/2024 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 437.5010/1/2024 10/25/2024 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 790.0010/1/2024 10/25/2024 3137HDXL9 FHMS K526 A2 4.54% 7/1/2029 738.2410/1/2024 10/25/2024 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 316.8110/1/2024 10/25/2024 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 668.6710/1/2024 10/25/2024 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 445.5010/1/2024 10/25/2024 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 727.1510/1/2024 10/25/2024 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 803.1710/1/2024 10/25/2024 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 631.7910/1/2024 10/25/2024 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 665.89

39 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST10/1/2024 10/25/2024 3137BVZ82 FHMS K063 A2 3.43% 1/1/2027 571.6710/1/2024 10/25/2024 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 813.7510/1/2024 10/25/2024 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 581.0410/4/2024 10/4/2024 00724PAF6 ADOBE INC (CALLABLE) 4.80% 4/4/2029 2,040.0010/15/2024 10/15/2024 931142FB4 WALMART INC (CALLABLE) 3.90% 4/15/2028 1,462.5010/15/2024 10/15/2024 91282CGV7 US TREASURY N/B 3.75% 4/15/2026 6,187.5010/21/2024 10/21/2024 61747YEG6 MORGAN STANLEY (CALLABLE) 1.16% 10/21/2025 436.5010/23/2024 10/23/2024 949746SH5 WELLS FARGO & COMPANY 3.00% 10/23/2026 2,550.0010/31/2024 10/31/2024 912828YQ7 US TREASURY N/B 1.62% 10/31/2026 1,625.0010/31/2024 10/31/2024 91282CAU5 US TREASURY N/B 0.50% 10/31/2027 500.0010/31/2024 10/31/2024 91282CEM9 US TREASURY N/B 2.87% 4/30/2029 5,821.8810/31/2024 10/31/2024 91282CBZ3 US TREASURY N/B 1.25% 4/30/2028 312.5010/31/2024 10/31/2024 91282CAT8 US TREASURY N/B 0.25% 10/31/2025 981.2510/31/2024 10/31/2024 91282CDF5 US TREASURY N/B 1.37% 10/31/2028 3,575.0011/1/2024 11/25/2024 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 382.2811/1/2024 11/25/2024 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 631.3011/1/2024 11/25/2024 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 668.67

40 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST11/1/2024 11/25/2024 3137BVZ82 FHMS K063 A2 3.43% 1/1/2027 571.6711/1/2024 11/25/2024 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 800.0011/1/2024 11/25/2024 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 581.0411/1/2024 11/25/2024 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 667.2911/1/2024 11/25/2024 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 339.2511/1/2024 11/25/2024 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 437.5011/1/2024 11/25/2024 3137FLN34 FHMS K734 A2 3.20% 2/1/2026 544.1011/1/2024 11/25/2024 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 790.0011/1/2024 11/25/2024 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 477.5211/1/2024 11/25/2024 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 803.1711/1/2024 11/25/2024 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 445.5011/1/2024 11/25/2024 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 442.1711/1/2024 11/25/2024 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 316.8111/1/2024 11/25/2024 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 604.5011/1/2024 11/25/2024 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 813.7511/1/2024 11/25/2024 3137HDXL9 FHMS K526 A2 4.54% 7/1/2029 738.2411/1/2024 11/25/2024 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 606.25

41 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST11/4/2024 11/4/2024 025816CM9 AMERICAN EXPRESS CO (CALLABLE) 1.65% 11/4/2026 1,650.0011/4/2024 11/4/2024 427866BH0 HERSHEY COMPANY (CALLABLE) 4.25% 5/4/2028 850.0011/10/2024 11/10/2024 665859AW4 NORTHERN TRUST CORP (CALLABLE) 4.00% 5/10/2027 2,000.0011/15/2024 11/15/2024 9128285M8 US TREASURY N/B 3.12% 11/15/2028 8,437.5011/15/2024 11/15/2024 053015AG8 AUTOMATIC DATA PROCESSNG (CALLABLE) 1.70% 5/15/2028 2,125.0011/15/2024 11/15/2024 539830BZ1 LOCKHEED MARTIN CORP (CALLABLE) 4.45% 5/15/2028 1,335.0011/15/2024 11/15/2024 9128283F5 US TREASURY N/B 2.25% 11/15/2027 5,625.0011/15/2024 11/15/2024 91324PEG3 UNITEDHEALTH GROUP INC (CALLABLE) 3.70% 5/15/2027 2,775.0011/15/2024 11/15/2024 912828U24 US TREASURY N/B 2.00% 11/15/2026 1,100.0011/15/2024 11/15/2024 30303M8L9 META PLATFORMS INC (CALLABLE) 4.60% 5/15/2028 2,300.0011/17/2024 11/17/2024 10373QBY5 BP CAP MARKETS AMERICA (CALLABLE) 5.01% 11/17/2027 2,884.7811/17/2024 11/17/2024 58933YBH7 MERCK & CO INC (CALLABLE) 4.05% 5/17/2028 1,215.0011/19/2024 11/19/2024 693475AT2 PNC FINANCIAL SERVICES (CALLABLE) 3.15% 5/19/2027 1,968.7511/30/2024 11/30/2024 91282CJL6 US TREASURY N/B 4.87% 11/30/2025 5,850.0011/30/2024 11/30/2024 91282CCF6 US TREASURY N/B 0.75% 5/31/2026 3,112.5011/30/2024 11/30/2024 91282CDK4 US TREASURY N/B 1.25% 11/30/2026 937.5012/1/2024 12/1/2024 023135CP9 AMAZON.COM INC (CALLABLE) 4.55% 12/1/2027 3,412.50

42 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST12/1/2024 12/25/2024 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 316.8112/1/2024 12/25/2024 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 445.5012/1/2024 12/25/2024 3137HDXL9 FHMS K526 A2 4.54% 7/1/2029 738.2412/1/2024 12/25/2024 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 442.1712/1/2024 12/25/2024 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 665.8812/1/2024 12/25/2024 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 339.2512/1/2024 12/25/2024 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 606.2512/1/2024 12/25/2024 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 381.5312/1/2024 12/25/2024 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 668.6712/1/2024 12/25/2024 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 476.5212/1/2024 12/25/2024 3137FLN34 FHMS K734 A2 3.20% 2/1/2026 543.5412/1/2024 12/25/2024 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 437.5012/1/2024 12/25/2024 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 800.0012/1/2024 12/25/2024 3137BVZ82 FHMS K063 A2 3.43% 1/1/2027 571.6712/1/2024 12/25/2024 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 790.0012/1/2024 12/25/2024 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 581.0412/1/2024 12/25/2024 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 813.75

43 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST12/1/2024 12/25/2024 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 630.8912/1/2024 12/25/2024 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 803.1712/1/2024 12/25/2024 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 604.5012/13/2024 12/13/2024 63253QAE4 NATIONAL AUSTRALIA BK/NY 4.90% 6/13/2028 6,125.0012/18/2024 12/18/2024 89236TJK2 TOYOTA MOTOR CREDIT CORP 1.12% 6/18/2026 421.8812/25/2024 12/25/2024 437076DC3 HOME DEPOT INC (CALLABLE) 4.75% 6/25/2029 593.7512/31/2024 12/31/2024 91282CEV9 US TREASURY N/B 3.25% 6/30/2029 5,118.7512/31/2024 12/31/2024 91282CDQ1 US TREASURY N/B 1.25% 12/31/2026 1,468.7512/31/2024 12/31/2024 91282CGC9 US TREASURY N/B 3.87% 12/31/2027 6,490.6312/31/2024 12/31/2024 91282CBC4 US TREASURY N/B 0.37% 12/31/2025 1,021.8812/31/2024 12/31/2024 91282CCJ8 US TREASURY N/B 0.87% 6/30/2026 1,312.5012/31/2024 12/31/2024 91282CCH2 US TREASURY N/B 1.25% 6/30/2028 3,437.50 Total INTEREST 0.00 137,297.81 0.00
PAYDOWNS10/1/2024 10/25/2024 284.06 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 284.06 5.3710/1/2024 10/25/2024 4,371.65 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 4,371.65 0.0210/1/2024 10/25/2024 223.33 3137FLN34 FHMS K734 A2 3.20% 2/1/2026 223.33 5.36

44 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS10/1/2024 10/25/2024 1.21 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 1.21 0.0210/1/2024 10/25/2024 123.70 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 123.7011/1/2024 11/25/2024 207.77 3137FLN34 FHMS K734 A2 3.20% 2/1/2026 207.77 4.6911/1/2024 11/25/2024 268.57 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 268.57 4.8711/1/2024 11/25/2024 1.08 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 1.08 0.0111/1/2024 11/25/2024 103.03 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 103.0311/1/2024 11/25/2024 228.81 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 228.8112/1/2024 12/25/2024 294.04 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 294.0412/1/2024 12/25/2024 1.22 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 1.22 0.0112/1/2024 12/25/2024 285.86 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 285.86 4.9912/1/2024 12/25/2024 131.34 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 131.3412/1/2024 12/25/2024 224.88 3137FLN34 FHMS K734 A2 3.20% 2/1/2026 224.88 4.75 Total PAYDOWNS 6,750.55 6,750.55 30.09
SELL10/1/2024 10/3/2024 60,000.00 341271AD6 FLORIDA ST BRD OF ADM 1.25% 7/1/2025 58,793.09 -1,465.7010/1/2024 10/3/2024 75,000.00 341271AD6 FLORIDA ST BRD OF ADM 1.25% 7/1/2025 73,491.37 -1,827.0010/1/2024 10/3/2024 155,000.00 341271AD6 FLORIDA ST BRD OF ADM 1.25% 7/1/2025 151,882.16 -3,616.15

45 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
SELL10/9/2024 10/11/2024 120,000.00 882508CG7 TEXAS INSTRUMENTS INC (CALLABLE) 4.60% 2/8/2029 122,721.60 1,866.8410/10/2024 10/11/2024 100,000.00 87612EBM7 TARGET CORP (CALLABLE) 1.95% 1/15/2027 96,004.83 -4,558.5510/10/2024 10/11/2024 30,000.00 87612EBM7 TARGET CORP (CALLABLE) 1.95% 1/15/2027 28,801.45 -1,315.1210/10/2024 10/11/2024 125,000.00 04636NAA1 ASTRAZENECA FINANCE LLC (CALLABLE) 1.20% 5/28/2026 119,801.67 -5,796.9710/28/2024 10/31/2024 95,000.00 91282CAT8 US TREASURY N/B 0.25% 10/31/2025 91,255.66 -3,351.3310/28/2024 10/31/2024 360,000.00 3135G06G3 FANNIE MAE 0.50% 11/7/2025 347,222.40 -13,614.1610/28/2024 10/31/2024 250,000.00 3135G05X7 FANNIE MAE 0.37% 8/25/2025 242,129.38 -7,917.5410/28/2024 10/31/2024 90,000.00 3135G06G3 FANNIE MAE 0.50% 11/7/2025 86,805.60 -3,346.2010/28/2024 10/31/2024 185,000.00 91282CAT8 US TREASURY N/B 0.25% 10/31/2025 177,708.40 -6,268.9811/1/2024 11/5/2024 215,000.00 3137EAEX3 FREDDIE MAC 0.37% 9/23/2025 207,792.66 -7,186.9411/19/2024 11/21/2024 165,000.00 931142EX7 WALMART INC (CALLABLE) 3.95% 9/9/2027 164,559.45 -1,892.1612/2/2024 12/5/2024 200,000.00 91282CJB8 US TREASURY N/B 5.00% 9/30/2025 202,742.88 602.5012/2/2024 12/5/2024 115,000.00 20772KEW5 CONNECTICUT ST 3.74% 9/15/2025 115,304.49 -3,204.8612/2/2024 12/5/2024 203,095.84 3137FLN34 FHMS K734 A2 3.20% 2/1/2026 200,280.46 1,367.1412/2/2024 12/5/2024 100,000.00 91282CJB8 US TREASURY N/B 5.00% 9/30/2025 101,371.43 250.37

46 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
SELL12/2/2024 12/5/2024 210,000.00 91282CAT8 US TREASURY N/B 0.25% 10/31/2025 202,413.65 -6,851.66 Total SELL 2,853,095.84 2,791,082.63 -68,126.47

47 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Appendix
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sourcesexternal to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements.While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References toparticular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and indexcharacteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion of the strategy rated by a NRSRO.It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.

Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of anysales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investmentperformance to be lower than the performance shown.The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast,projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinionas of the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct asactual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions anddata presented are not necessarily indicative of future events or expected performance.PFM Asset Management serves clients in the public sector and is a division of U.S. Bancorp Asset Management, Inc., which is the legal entity providing investmentadvisory services. U.S. Bancorp Asset Management, Inc. is a registered investment adviser, a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S.

Bancorp. U.S. Bank N.A. is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Asset Management, Inc. Theinformation contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.For more information regarding PFMAM's services or entities, please visit www.pfmam.com.Further distribution is not permitted without prior written consent.

48 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Appendix
Important Disclosures
This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer tobuy or sell any fund or other security. Investors should consider the Trust’s investment objectives, risks, charges and expenses before investing in the Trust. Thisand other information about the Trust is available in the Trust’s current Information Statement, which should be read carefully before investing. A copy of the Trust’sInformation Statement may be obtained by calling 1-800-729-7665 or is available on the Trust’s website at www.camponline.com. While the Cash Reserve Portfolioseeks to maintain a stable net asset value of $1.00 per share and the CAMP Term Portfolio seeks to achieve a net asset value of $1.00 per share at the statedmaturity, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation orany other government agency. Shares of the Trust are distributed by U.S. Bancorp Investments, Inc., member FINRA (www.finra.org) and SIPC (www.sipc.org). PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc., which serves as administrator and investment adviser to the Trust. U.S. Bancorp Asset Management, Inc. is a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S. Bancorp. U.S. Bancorp Investments, Inc. is a subsidiary of U.S. Bancorpand affiliate of U.S. Bank N.A.Generally, PFMAM’s market prices are derived from closing bid prices as of the last business day of the month as supplied by ICE Data Services. There may bedifferences in the values shown for investments due to accrued but uncollected income and the use of differing valuation sources and methods. Non-negotiable FDIC-insured bank certificates of deposit are priced at par. Although PFMAM believes the prices to be reliable, the values of the securities may not represent the prices at which the securities could have been bought or sold. Explanation of the valuation methods for a registered investment company or local governmentinvestment program is contained in the appropriate fund offering documentation or information statement.

In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded.

Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns.

ICE Bank of America Indices provided by Bloomberg Financial Markets.Money market fund/cash balances are included in performance and duration computations.Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.MBS maturities are represented by expected average life.

49 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Appendix
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.Agencies: Federal agency securities and/or Government-sponsored enterprises.Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.

Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, and receivables.

Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector addedor subtracted from the overall portfolio performance.Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compoundingon investment returns, while nominal yield does not.FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.Interest Rate: Interest per year divided by principal amount and expressed as a percentage.Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.Maturity: The date upon which the principal or stated value of an investment becomes due and payable.Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.Par Value: The nominal dollar face amount of a security.Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is themortgage-backed security.

50 PFM Asset Management | pfmam.com

LOS ALTOS HILLS
For the Quarter Ended December 31, 2024
Appendix
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments andmaturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whosedecisions are binding on its members.Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.U.S. Treasury: The department of the U.S. government that issues Treasury securities.Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time periodfrom purchase date to maturity, stated as a percentage on an annualized basis.YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the timeperiod remaining until maturity, stated as a percentage on an annualized basis.

51 LOS ALTOS HILLS

ACCOUNT STATEMENT
For the Month Ending
November 30, 2024
Customer Service
PO Box 11813
Harrisburg, PA 17108-1813
Contents
Cover/Disclosures
Summary Statement
Individual Accounts

LOS ALTOS HILLS

THOMAS LEUNG
26379 FREMONT ROAD
LOS ALTOS, CA 94022
Client Management Team
Accounts included in Statement
581-00 OPERATING FUND
Online Access www.camponline.com Customer Service 1-800-729-7665 Important Messages
CAMP will be closed on 12/25/2024 for Christmas Day.

CAMP will be closed on 01/01/2025 for New Year's Day.

Monique Spyke
Managing Director
1 California Street Ste. 1000
San Francisco, CA 94111-5411
415-393-7270
[email protected]
ITEM 4C Attachment 4
REVISED 2.13.25

For the Month Ending November 30, 2024
Account Statement
Important Disclosures
Important Disclosures
Average maturity represents the average maturity of all securities and investments of a portfolio, determined by multiplying the par or principal value of each security or investment by its maturity (days or years), summing the products, and dividing the sum by the total principal value of the portfolio. The stated maturity date of mortgage backed or callable securities are used in this statement. However the actual maturity of these securities could vary depending on the level or prepayments on the underlying mortgages or whether a callable security has or is still able to be called.

Monthly distribution yield represents the net change in the value of one share (normally $1.00 per share) resulting from all dividends declared during the month by a fund expressed as a percentage of the value of one share at the beginning of the month. This resulting net change is then annualized by multiplying it by 365 and dividing it by the number of calendar days in the month.

YTM at Cost The yield to maturity at cost is the expected rate of return, based on the original cost, the annual interest receipts, maturity value and the time period from purchase date to maturity, stated as a percentage, on an annualized basis.

YTM at Market The yield to maturity at market is the rate of return, based on the current market value, the annual interest receipts, maturity value and the time period remaining until maturity, stated as a percentage, on an annualized basis.

Managed Account A portfolio of investments managed discretely by PFMAM according to the client’s specific investment policy and requirements. The investments are directly owned by the client and held by the client’s custodian.

Unsettled Trade A trade which has been executed however the final consummation of the security transaction and payment has not yet taken place.

In August 2024, PFMAM converted its portfolio accounting system from FIS Investment Accounting Manager to SS&C PORTIA. The new system has recalculated the amortized cost and yield to maturity at cost of each security, based upon original cost and settlement date. Some securities, including some factored securities and previously exchanged securities, are now on a modified amortization schedule as compared with that of the past. Where transfers have occurred between your portfolios we have returned their settlement dates to the settlement dates of the original purchases in order to minimize any impact to their amortization schedules.

Please review the detail pages of this statement carefully. If you think your statement is wrong, missing account information, or if you need more information about a transaction, please contact PFMAM within 60 days of receipt. If you have other concerns or questions regarding your account, or to request an updated copy of PFMAM's current disclosure statement, please contact a member of your client management team at PFMAM Service Operations at the address below.

PFM Asset Management
Attn: Service Operations
213 Market Street
Harrisburg, PA 17101

NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE
This statement is for general information purposes only and is not intended to provide specific advice or recommendations. PFM Asset Management ("PFMAM") is a division of U.S. Bancorp Asset Management, Inc. ("USBAM"), a SEC-registered investment adviser. USBAM is direct subsidiary of U.S. Bank National Association ("U.S. Bank") and an indirect subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. PFMAM maintains a written disclosure statement of our background and business experience. If you would like to receive a copy of our current disclosure statement, please contact Service Operations at the address below.

Proxy Voting PFMAM does not normally receive proxies to vote on behalf of its clients.

However, it does on occasion receive consent requests. In the event a consent request is received the portfolio manager contacts the client and then proceeds according to their instructions. PFMAM’s Proxy Voting Policy is available upon request by contacting Service Operations at the address below.

Questions About an Account PFMAM’s monthly statement is intended to detail our investment advisory activity as well as the activity of any accounts held by clients in pools that are managed by PFMAM. The custodian bank maintains the control of assets and executes (i.e., settles) all investment transactions. The custodian statement is the official record of security and cash holdings and transactions. PFMAM recognizes that clients may use these reports to facilitate record keeping and that the custodian bank statement and the PFMAM statement should be reconciled and differences resolved.

Many custodians use a settlement date basis which may result in the need to reconcile due to a timing difference.

Account Control PFMAM does not have the authority to withdraw funds from or deposit funds to the custodian outside the scope of services provided by PFMAM. Our clients retain responsibility for their internal accounting policies; implementing and enforcing internal controls and generating ledger entries or otherwise recording transactions.

Market Value Generally, PFMAM’s market prices are derived from closing bid prices as of the last business day of the month as supplied by ICE Data Services. There may be differences in the values shown for investments due to accrued but uncollected income and the use of differing valuation sources and methods. Non-negotiable FDIC-insured bank certificates of deposit are priced at par. Although PFMAM believes the prices to be reliable, the values of the securities may not represent the prices at which the securities could have been bought or sold. Explanation of the valuation methods for a registered investment company or local government investment program is contained in the appropriate fund offering documentation or information statement.

Amortized Cost The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short term securities (those with less than one year to maturity at time of issuance) is amortized on a straightline basis. Such discount or premium with respect to longer term securities is amortized using the constant yield basis.

Tax Reporting Cost data and realized gains / losses are provided for informational purposes only. Please review for accuracy and consult your tax advisor to determine the tax consequences of your security transactions. PFMAM does not report such information to the IRS or other taxing authorities and is not responsible for the accuracy of such information that may be required to be reported to federal, state or other taxing authorities.

Financial Situation In order to better serve you, PFMAM should be promptly notified of any material change in your investment objective or financial situation.

Callable Securities Securities subject to redemption prior to maturity may be redeemed in whole or in part before maturity, which could affect the yield represented.

Portfolio The securities in this portfolio, including shares of mutual funds, are not guaranteed or otherwise protected by PFMAM, the FDIC (except for certain non-negotiable certificates of deposit) or any government agency. Investment in securities involves risks, including the possible loss of the amount invested. Actual settlement values, accrued interest, and amortized cost amounts may vary for securities subject to an adjustable interest rate or subject to principal paydowns. Any changes to the values shown may be reflected within the next monthly statement’s beginning values.

Rating Information provided for ratings is based upon a good faith inquiry of selected sources, but its accuracy and completeness cannot be guaranteed.

Shares of some local government investment programs and TERM funds are distributed by representatives of USBAM's affiliate, U.S. Bancorp Investments, Inc. which is registered with the SEC as a broker/dealer and is a member of the Financial Industry Regulatory Authority (“FINRA”) and the Municipal Securities Rulemaking Board (“MSRB”). You may reach the FINRA by calling the FINRA Hotline at 1-800-289-9999 or at the FINRA website address
https://www.finra.org/investors/investor-contacts. A brochure describing the FINRA Regulation Public Disclosure Program is also available from FINRA upon request.

Key Terms and Definitions
Dividends on local government investment program funds consist of interest earned, plus any discount ratably amortized to the date of maturity, plus all realized gains and losses on the sale of securities prior to maturity, less ratable amortization of any premium and all accrued expenses to the fund. Dividends are accrued daily and may be paid either monthly or quarterly. The monthly earnings on this statement represent the estimated dividend accrued for the month for any program that distributes earnings on a quarterly basis. There is no guarantee that the estimated amount will be paid on the actual distribution date.

Current Yield is the net change, exclusive of capital changes and income other than investment income, in the value of a hypothetical fund account with a balance of one share over the seven-day base period including the statement date, expressed as a percentage of the value of one share (normally $1.00 per share) at the beginning of the seven-day period. This resulting net change in account value is then annualized by multiplying it by 365 and dividing the result by 7. The yields quoted should not be considered a representation of the yield of the fund in the future, since the yield is not fixed.

U.S. Bancorp Investments, Inc., is registered with the U.S. Securities and Exchange Commission (SEC) and is subject to the rules of the Municipal Securities Rulemaking Board (MSRB) as it relates to the distribution of shares of local government investment pools. The MSRB requires investors to be informed of the availability of the MSRB Investor Brochure which describes the protections that may be provided by the MSRB rules and how to file a complaint with an appropriate regulatory authority. The MSRB Investor Brochure can be found on the MSRB’s website at www.msrb.org.

Account Statement - Transaction Summary For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
126,451.20
419,244.03
(525,903.89)

0.00 $19,791.34
CAMP Pool
Unsettled Trades 0.00
Cash Dividends and Income 155.62
Opening Market Value
Purchases
Redemptions
Change in Value
Closing Market Value
21,921,713.40
521,689.07
(371,763.81)
48,123.08
$22,119,761.74
CAMP Managed Account
Unsettled Trades 0.00
Cash Dividends and Income 46,392.00
November 30, 2024 October 31, 2024
Asset Summary
CAMP Pool 19,791.34 126,451.20
CAMP Managed Account 22,119,761.74 21,921,713.40
Total $22,139,553.08 $22,048,164.60
Asset Allocation

0.09%
CAMP Pool

99.91%
CAMP Managed
Account
PFM Asset Management, a division of Account 581-00 Page 1 U.S. Bancorp Asset Management, Inc.

Managed Account Summary Statement For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dividend
Closing Market Value
Redemptions
Purchases
Opening Market Value
Closing Market Value
Change in Current Value
Unsettled Trades
Principal Acquisitions
Principal Dispositions
Maturities/Calls
Opening Market Value
Closing Market Value
Opening Market Value
Account Total
Total Cash Basis Earnings
Plus Net Realized Gains/Losses
Less Purchased Interest Related to Interest/Coupons
Interest/Dividends/Coupons Received
Earnings Reconciliation (Cash Basis) - Managed Account
Dividends
Less Beginning Accrued Interest
Less Beginning Amortized Value of Securities
Less Cost of New Purchases
Plus Coupons/Dividends Received
Plus Proceeds of Maturities/Calls/Principal Payments
Plus Proceeds from Sales
Ending Accrued Interest
Ending Amortized Value of Securities
Earnings Reconciliation (Accrual Basis)
Reconciling Transactions
Net Cash Contribution
Security Purchases
Principal Payments
Coupon/Interest/Dividend Income
Sale Proceeds
Maturities/Calls
Cash Transactions Summary- Managed Account
$126,451.20
419,244.03
(525,903.89)
$19,791.34
155.62
$21,921,713.40
(809.26)
(370,954.55)
521,689.07

0.00 48,123.08
$22,119,761.74
$22,048,164.60
$22,139,553.08
57,224.60
(2,184.27)
(8,648.33)
$46,392.00

0.00 372,352.11
55,827.04
809.26
(523,873.34)
94,884.93

0.00 Managed Account Total
22,299,198.42 22,318,989.76
126,491.01
372,352.11
809.26
55,827.04
(523,873.34)
(22,143,067.74)
(128,838.97)

0.00 126,491.01
898,256.00
809.26
55,827.04
(943,117.37)
(22,269,518.94)
(128,838.97)
155.62
Total Accrual Basis Earnings $58,897.79 $59,053.41
Transaction Summary - Money Market Transaction Summary - Managed Account _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance
Closing Cash Balance $0.00
PFM Asset Management, a division of Account 581-00 Page 2 U.S. Bancorp Asset Management, Inc.

Portfolio Summary and Statistics For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Account Summary
Description Par Value Market Value Percent
U.S. Treasury Bond / Note 12,870,000.00 12,273,660.39 55.44 Municipal Bond / Note 165,000.00 162,130.21 0.73
Federal Agency Commercial
Mortgage-Backed Security
3,483,165.58 3,446,225.09 15.57
Corporate Note 5,935,000.00 5,829,934.70 26.33
Certificate of Deposit 400,000.00 407,811.35 1.84
Managed Account Sub-Total 22,853,165.58 22,119,761.74 99.91% Accrued Interest 126,491.01
Total Portfolio 22,853,165.58 22,246,252.75
CAMP Pool 19,791.34 19,791.34 0.09
Total Investments 22,872,956.92 22,266,044.09 100.00%
Unsettled Trades 0.00 0.00
Sector Allocation

1.84%
Cert of Deposit

26.33%
Corporate Note

15.57%
Federal Agency
Commercial
Mortgage-Backed
Security

0.09%
Joint Powers
Authority

0.73%
Muni Bond / Note

55.44%
US TSY Bond / Note
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years

0.09%

5.16%

31.54%

22.99%

24.95%

15.27%

0.00%
Maturity Distribution Characteristics
Yield to Maturity at Cost
Yield to Maturity at Market
Weighted Average Days to Maturity 988

3.72%

4.34%
PFM Asset Management, a division of Account 581-00 Page 3 U.S. Bancorp Asset Management, Inc.

Managed Account Issuer Summary For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Credit Quality (S&P Ratings)

5.52%
A

8.00%
A+

6.50%
A1.02%
AA

71.00%
AA+

4.75%
AA0.09%
AAAm

2.90%
BBB+

0.22%
NR
Issuer Summary
Issuer of Holdings Percent
Market Value
Adobe Inc 86,298.29 0.39
Amazon.com Inc 151,088.25 0.68
American Express Co 189,145.80 0.85
Analog Devices Inc 135,660.30 0.61
Automatic Data Processing Inc 229,397.50 1.04
Bank of America Corp 304,830.30 1.38
Bank of New York Mellon Corp 95,328.10 0.43
BlackRock Inc 242,641.21 1.10
BP PLC 116,678.66 0.53
Bristol-Myers Squibb Co 123,077.38 0.56
CAMP Pool 19,791.34 0.09
Caterpillar Inc 189,100.20 0.85
Cisco Systems Inc 111,763.30 0.50
Citigroup Inc 276,359.30 1.25
Comcast Corp 119,597.13 0.54
Cooperatieve Rabobank UA 254,395.25 1.15
Deere & Co 138,656.32 0.63
Federal Home Loan Mortgage Corp 3,257,691.08 14.70
Federal National Mortgage Association 188,534.01 0.85
Goldman Sachs Group Inc 296,047.10 1.34
Groupe BPCE 153,416.10 0.69
Hershey Co 39,974.28 0.18
Home Depot Inc 111,753.60 0.50
Honda Motor Co Ltd 175,938.54 0.79
Honeywell International Inc 93,074.10 0.42
Intel Corp 155,882.72 0.70
International Business Machines Corp 152,356.16 0.69
JPMorgan Chase & Co 188,835.20 0.85
Lockheed Martin Corp 60,099.19 0.27
Los Angeles Unified School District/CA 47,741.55 0.22
Merck & Co Inc 59,643.18 0.27
Meta Platforms Inc 100,853.50 0.46
PFM Asset Management, a division of Account 581-00 Page 4 U.S. Bancorp Asset Management, Inc.

Managed Account Issuer Summary For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Issuer of Holdings Percent
Market Value
Morgan Stanley 88,464.69 0.40
National Australia Bank Ltd 253,550.50 1.15
National Rural Utilities Cooperative Fi 126,311.00 0.57 Northern Trust Corp 99,023.80 0.45
PACCAR Inc 150,636.50 0.68
PepsiCo Inc 105,746.03 0.48
PNC Financial Services Group Inc 120,991.38 0.55
State of Connecticut 114,388.66 0.52
State Street Corp 242,734.56 1.10
Toyota Motor Corp 158,550.25 0.72
Truist Financial Corp 153,121.76 0.69
United States Treasury 12,273,660.39 55.43
UnitedHealth Group Inc 147,584.55 0.67
Walmart Inc 74,242.28 0.34
Wells Fargo & Co 164,897.79 0.74
Total $22,139,553.08 100.00%
PFM Asset Management, a division of Account 581-00 Page 5 U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note

US TREASURY N/B
DTD 10/02/2023 5.000% 09/30/2025
91282CJB8 100,000.00 AA+ Aaa 11/30/23 12/07/23 100,464.84 4.73 851.65 100,217.31 100,456.30

US TREASURY N/B
DTD 10/02/2023 5.000% 09/30/2025
91282CJB8 200,000.00 AA+ Aaa 03/26/24 03/28/24 200,593.75 4.79 1,703.30 200,331.52 200,912.60

US TREASURY N/B
DTD 11/02/2020 0.250% 10/31/2025
91282CAT8 505,000.00 AA+ Aaa 09/08/21 09/09/21 496,340.04 0.67 108.11 503,088.28 486,460.95

US TREASURY N/B
DTD 11/30/2023 4.875% 11/30/2025
91282CJL6 240,000.00 AA+ Aaa 10/10/24 10/11/24 241,753.13 4.21 32.14 241,543.94 241,170.00

US TREASURY N/B
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 185,000.00 AA+ Aaa 01/29/21 02/02/21 184,602.54 0.42 290.32 184,912.44 177,303.63

US TREASURY N/B
DTD 12/31/2020 0.375% 12/31/2025
91282CBC4 360,000.00 AA+ Aaa 05/05/21 05/07/21 354,164.06 0.73 564.95 358,643.20 345,023.28

US TREASURY N/B
DTD 02/01/2021 0.375% 01/31/2026
91282CBH3 85,000.00 AA+ Aaa 02/25/21 02/26/21 83,359.77 0.77 106.54 84,611.81 81,201.61

US TREASURY N/B
DTD 02/01/2021 0.375% 01/31/2026
91282CBH3 195,000.00 AA+ Aaa 09/01/21 09/03/21 192,356.84 0.69 244.41 194,301.06 186,286.04

US TREASURY N/B
DTD 02/01/2021 0.375% 01/31/2026
91282CBH3 315,000.00 AA+ Aaa 07/02/21 07/07/21 308,946.09 0.80 394.82 313,454.78 300,923.60

US TREASURY N/B
DTD 02/29/2024 4.625% 02/28/2026
91282CKB6 150,000.00 AA+ Aaa 03/04/24 03/05/24 150,105.47 4.59 1,763.12 150,075.43 150,539.10

US TREASURY N/B
DTD 04/17/2023 3.750% 04/15/2026
91282CGV7 330,000.00 AA+ Aaa 04/04/24 04/05/24 324,121.88 4.68 1,597.87 326,028.30 327,692.64

US TREASURY N/B
DTD 06/01/2021 0.750% 05/31/2026
91282CCF6 350,000.00 AA+ Aaa 02/15/22 02/17/22 332,691.41 1.96 7.21 343,957.49 332,294.90

US TREASURY N/B
DTD 06/01/2021 0.750% 05/31/2026
91282CCF6 480,000.00 AA+ Aaa 12/01/21 12/03/21 471,450.00 1.16 9.89 477,153.48 455,718.72

US TREASURY N/B
DTD 06/30/2021 0.875% 06/30/2026
91282CCJ8 300,000.00 AA+ Aaa 08/02/21 08/04/21 303,046.88 0.66 1,098.51 300,979.90 284,648.40 PFM Asset Management, a division of Account 581-00 Page 6 U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note

US TREASURY N/B
DTD 07/17/2023 4.500% 07/15/2026
91282CHM6 200,000.00 AA+ Aaa 02/01/24 02/05/24 202,234.38 4.01 3,399.46 201,482.06 200,789.00

US TREASURY N/B
DTD 08/31/2021 0.750% 08/31/2026
91282CCW9 175,000.00 AA+ Aaa 09/08/21 09/09/21 174,555.66 0.80 333.56 174,843.98 164,855.43

US TREASURY N/B
DTD 10/31/2019 1.625% 10/31/2026
912828YQ7 200,000.00 AA+ Aaa 12/14/21 12/16/21 203,593.75 1.24 278.31 201,411.25 190,687.60

US TREASURY N/B
DTD 10/31/2019 1.625% 10/31/2026
912828YQ7 1,000,000.00 AA+ Aaa 10/28/24 10/31/24 952,539.06 4.12 1,391.57 954,510.39 953,438.00

US TREASURY N/B
DTD 11/15/2016 2.000% 11/15/2026
912828U24 100,000.00 AA+ Aaa 11/20/24 11/22/24 95,699.22 4.29 88.40 95,751.50 95,933.60

US TREASURY N/B
DTD 11/15/2016 2.000% 11/15/2026
912828U24 110,000.00 AA+ Aaa 11/01/24 11/05/24 105,441.02 4.15 97.24 105,595.65 105,526.96

US TREASURY N/B
DTD 11/30/2021 1.250% 11/30/2026
91282CDK4 150,000.00 AA+ Aaa 12/01/21 12/03/21 150,427.73 1.19 5.15 150,171.05 141,632.85

US TREASURY N/B
DTD 12/31/2021 1.250% 12/31/2026
91282CDQ1 235,000.00 AA+ Aaa 01/03/22 01/05/22 233,898.44 1.35 1,229.28 234,540.26 221,450.84

US TREASURY N/B
DTD 02/15/2017 2.250% 02/15/2027
912828V98 145,000.00 AA+ Aaa 08/04/22 08/08/22 141,352.34 2.85 957.47 143,220.33 139,211.31

US TREASURY N/B
DTD 02/15/2017 2.250% 02/15/2027
912828V98 155,000.00 AA+ Aaa 08/01/22 08/05/22 151,833.40 2.73 1,023.51 153,457.84 148,812.09

US TREASURY N/B
DTD 03/02/2020 1.125% 02/28/2027
912828ZB9 175,000.00 AA+ Aaa 09/06/23 09/08/23 155,572.27 4.62 500.35 162,461.54 163,720.73

US TREASURY N/B
DTD 08/01/2022 2.750% 07/31/2027
91282CFB2 215,000.00 AA+ Aaa 01/02/24 01/05/24 205,988.48 4.02 1,976.19 208,277.67 207,500.16

US TREASURY N/B
DTD 08/01/2022 2.750% 07/31/2027
91282CFB2 220,000.00 AA+ Aaa 08/01/24 08/02/24 212,265.63 4.01 2,022.15 213,073.70 212,325.74

US TREASURY N/B
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 125,000.00 AA+ Aaa 11/01/22 11/04/22 114,296.88 4.25 825.41 118,946.14 119,072.25 PFM Asset Management, a division of Account 581-00 Page 7 U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note

US TREASURY N/B
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 150,000.00 AA+ Aaa 09/03/24 09/05/24 143,595.70 3.80 990.49 144,086.22 142,886.70

US TREASURY N/B
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 220,000.00 AA+ Aaa 09/04/24 09/05/24 211,371.88 3.67 1,452.72 212,033.58 209,567.16

US TREASURY N/B
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 360,000.00 AA+ Aaa 12/05/22 12/07/22 336,726.56 3.77 2,377.17 346,582.43 342,928.08

US TREASURY N/B
DTD 09/30/2020 0.375% 09/30/2027
91282CAL5 200,000.00 AA+ Aaa 02/01/24 02/05/24 176,578.13 3.84 127.75 181,849.37 180,140.60

US TREASURY N/B
DTD 11/02/2020 0.500% 10/31/2027
91282CAU5 200,000.00 AA+ Aaa 01/03/23 01/05/23 169,828.13 3.97 85.64 181,759.73 180,304.60

US TREASURY N/B
DTD 11/15/2017 2.250% 11/15/2027
9128283F5 500,000.00 AA+ Aaa 01/30/23 01/31/23 468,417.97 3.70 497.24 480,516.29 474,160.00

US TREASURY N/B
DTD 01/03/2023 3.875% 12/31/2027
91282CGC9 120,000.00 AA+ Aaa 04/24/23 04/26/23 121,289.06 3.62 1,945.92 120,848.07 119,179.68

US TREASURY N/B
DTD 01/03/2023 3.875% 12/31/2027
91282CGC9 215,000.00 AA+ Aaa 06/03/24 06/05/24 209,935.74 4.60 3,486.45 210,580.13 213,530.26

US TREASURY N/B
DTD 04/30/2021 1.250% 04/30/2028
91282CBZ3 50,000.00 AA+ Aaa 06/01/23 06/05/23 44,421.88 3.76 53.52 46,119.30 45,449.20

US TREASURY N/B
DTD 06/30/2021 1.250% 06/30/2028
91282CCH2 550,000.00 AA+ Aaa 11/03/23 11/06/23 475,298.83 4.52 2,877.04 492,500.33 497,835.80

US TREASURY N/B
DTD 11/01/2021 1.375% 10/31/2028
91282CDF5 250,000.00 AA+ Aaa 01/02/24 01/05/24 222,041.02 3.95 294.37 227,296.23 225,478.50

US TREASURY N/B
DTD 11/01/2021 1.375% 10/31/2028
91282CDF5 270,000.00 AA+ Aaa 02/29/24 03/05/24 237,304.69 4.27 317.92 242,513.64 243,516.78

US TREASURY N/B
DTD 11/15/2018 3.125% 11/15/2028
9128285M8 100,000.00 AA+ Aaa 03/26/24 03/28/24 95,179.69 4.28 138.12 95,885.80 96,437.50

US TREASURY N/B
DTD 11/15/2018 3.125% 11/15/2028
9128285M8 200,000.00 AA+ Aaa 12/04/23 12/07/23 190,031.25 4.25 276.24 192,019.48 192,875.00 PFM Asset Management, a division of Account 581-00 Page 8 U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
U.S. Treasury Bond / Note

US TREASURY N/B
DTD 11/15/2018 3.125% 11/15/2028
9128285M8 240,000.00 AA+ Aaa 12/05/23 12/06/23 228,628.13 4.20 331.49 230,901.24 231,450.00

US TREASURY N/B
DTD 01/31/2022 1.750% 01/31/2029
91282CDW8 170,000.00 AA+ Aaa 02/01/24 02/05/24 154,401.17 3.79 994.36 156,969.58 154,759.84

US TREASURY N/B
DTD 02/15/2019 2.625% 02/15/2029
9128286B1 250,000.00 AA+ Aaa 06/03/24 06/05/24 230,214.84 4.51 1,925.95 232,086.74 235,800.75

US TREASURY N/B
DTD 02/15/2019 2.625% 02/15/2029
9128286B1 350,000.00 AA+ Aaa 04/29/24 05/02/24 319,388.67 4.68 2,696.33 322,758.18 330,121.05

US TREASURY N/B
DTD 05/02/2022 2.875% 04/30/2029
91282CEM9 165,000.00 AA+ Aaa 07/01/24 07/02/24 153,688.48 4.47 406.23 154,566.84 156,840.26

US TREASURY N/B
DTD 05/02/2022 2.875% 04/30/2029
91282CEM9 240,000.00 AA+ Aaa 08/01/24 08/02/24 229,621.88 3.88 590.88 230,283.95 228,131.28

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 125,000.00 AA+ Aaa 09/04/24 09/05/24 122,919.92 3.63 1,700.07 123,013.97 120,561.50

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 190,000.00 AA+ Aaa 09/03/24 09/05/24 185,762.11 3.76 2,584.10 185,953.17 183,253.48

US TREASURY N/B
DTD 08/01/2022 2.625% 07/31/2029
91282CFC0 290,000.00 AA+ Aaa 10/01/24 10/03/24 278,683.20 3.51 2,544.40 279,030.25 271,965.77

US TREASURY N/B
DTD 09/30/2022 3.875% 09/30/2029
91282CFL0 140,000.00 AA+ Aaa 10/28/24 10/31/24 138,457.81 4.12 924.04 138,482.39 138,594.54

US TREASURY N/B
DTD 09/30/2022 3.875% 09/30/2029
91282CFL0 225,000.00 AA+ Aaa 11/01/24 11/05/24 221,888.67 4.19 1,485.06 221,930.68 222,741.23

US TREASURY N/B
DTD 10/31/2022 4.000% 10/31/2029
91282CFT3 100,000.00 AA+ Aaa 11/20/24 11/22/24 98,660.16 4.30 342.54 98,666.48 99,562.50 Security Type Sub-Total 12,870,000.00 12,308,030.53 3.25 54,346.93 12,446,276.37 12,273,660.39 Municipal Bond / Note

CONNECTICUT ST
DTD 09/13/2018 3.743% 09/15/2025
20772KEW5 115,000.00 AA- Aa3 11/17/20 11/19/20 130,827.45 0.83 908.72 117,589.28 114,388.66 PFM Asset Management, a division of Account 581-00 Page 9 U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Municipal Bond / Note

LOS ANGELES UN SD-B
DTD 11/10/2021 1.455% 07/01/2026
544647FC9 50,000.00 NR Aa2 10/28/21 11/10/21 50,000.00 1.46 303.13 50,000.00 47,741.55 Security Type Sub-Total 165,000.00 180,827.45 1.01 1,211.85 167,589.28 162,130.21 Federal Agency Commercial Mortgage-Backed Security
FHMS K734 A2
DTD 04/01/2019 3.208% 02/01/2026
3137FLN34 203,320.72 AA+ Aaa 08/11/23 08/16/23 194,520.74 5.03 543.54 199,022.38 200,422.79 FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
3137BSP72 200,000.00 AA+ Aaa 04/12/23 04/17/23 190,898.44 4.10 442.17 195,298.53 193,875.40 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
3137BTUM1 136,789.84 AA+ Aaa 05/19/23 05/24/23 132,579.29 4.29 381.53 134,405.75 133,673.91 FHMS K063 A2
DTD 03/01/2017 3.430% 01/01/2027
3137BVZ82 200,000.00 AA+ Aaa 05/19/23 05/24/23 193,945.31 4.32 571.67 196,452.44 195,776.20 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
3137BXQY1 225,000.00 AA+ Aaa 08/16/23 08/18/23 212,238.28 4.94 604.50 216,793.93 219,165.08 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 215,000.00 AA+ Aaa 06/08/23 06/13/23 206,022.07 4.42 581.04 209,427.49 209,053.96 FHMS K743 A2
DTD 06/01/2021 1.770% 05/01/2028
3137H14B9 230,000.00 AA+ Aaa 08/10/23 08/15/23 201,303.91 4.68 339.25 209,078.55 210,316.14 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 158,481.87 AA+ Aaa 07/19/23 07/27/23 158,477.89 4.78 630.89 158,478.97 158,517.84 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 200,000.00 AA+ Aaa 07/13/23 07/20/23 201,997.60 4.59 803.17 201,445.02 201,699.20 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
3136BQDE6 191,109.20 AA+ Aaa 07/18/23 07/31/23 187,869.31 4.58 667.29 188,736.17 188,534.01 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 108,463.95 AA+ Aaa 09/19/23 09/28/23 108,463.41 5.27 476.52 108,463.58 109,941.12 PFM Asset Management, a division of Account 581-00 Page 10 U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Federal Agency Commercial Mortgage-Backed Security
FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 200,000.00 AA+ Aaa 10/11/23 10/19/23 195,612.80 5.25 790.00 196,523.40 201,323.20 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 210,000.00 AA+ Aaa 09/07/23 09/14/23 206,893.47 4.99 813.75 207,584.07 210,542.64 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 150,000.00 AA+ Aaa 10/25/23 10/31/23 145,217.55 5.60 606.25 146,104.14 151,338.60 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 200,000.00 AA+ Aaa 09/20/23 09/28/23 197,609.40 5.07 800.00 198,089.11 201,479.80 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 75,000.00 AA+ Aaa 11/14/23 11/21/23 74,783.18 5.14 316.81 74,823.92 76,240.65 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 110,000.00 AA+ Aaa 11/28/23 12/07/23 109,683.97 4.93 445.50 109,741.49 111,202.74 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
3137HBCF9 105,000.00 AA+ Aaa 12/11/23 12/21/23 105,980.49 4.79 437.50 105,810.78 106,779.44 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
3137HDV56 170,000.00 AA+ Aaa 07/16/24 07/25/24 171,043.97 4.58 668.67 170,991.80 171,274.32 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
3137HDXL9 195,000.00 AA+ Aaa 08/07/24 08/15/24 196,824.03 4.33 738.24 196,726.54 195,068.05 Security Type Sub-Total 3,483,165.58 3,391,965.11 4.76 11,658.29 3,423,998.06 3,446,225.09 Corporate Note

CITIGROUP INC (CALLABLE)
DTD 01/25/2022 2.014% 01/25/2026
17327CAN3 25,000.00 BBB+ A3 01/18/22 01/25/22 25,000.00 2.01 176.23 25,000.00 24,881.80

GOLDMAN SACHS GROUP INC (CALLABLE)
DTD 02/12/2021 0.855% 02/12/2026
38141GXS8 125,000.00 BBB+ A2 02/12/21 02/17/21 125,255.00 0.81 323.59 125,061.23 124,021.75

JPMORGAN CHASE & CO (CALLABLE)
DTD 03/23/2016 3.300% 04/01/2026
46625HQW3 105,000.00 A A1 07/19/23 07/21/23 100,150.05 5.16 577.50 102,600.02 103,328.51

TOYOTA MOTOR CREDIT CORP
DTD 06/18/2021 1.125% 06/18/2026
89236TJK2 75,000.00 A+ A1 09/08/21 09/13/21 74,833.50 1.17 382.03 74,945.92 71,369.40 PFM Asset Management, a division of Account 581-00 Page 11 U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Corporate Note

STATE STREET CORP (CALLABLE)
DTD 08/03/2023 5.272% 08/03/2026
857477CD3 65,000.00 A Aa3 08/01/23 08/03/23 65,023.40 5.26 1,123.23 65,012.75 65,762.84

STATE STREET CORP (CALLABLE)
DTD 08/03/2023 5.272% 08/03/2026
857477CD3 85,000.00 A Aa3 07/31/23 08/03/23 85,000.00 5.27 1,468.84 85,000.00 85,997.56

BANK OF AMERICA NA (CALLABLE)
DTD 08/18/2023 5.526% 08/18/2026
06428CAA2 300,000.00 A+ Aa1 08/14/23 08/18/23 300,000.00 5.53 4,743.15 300,000.00 304,830.30

AMERICAN HONDA FINANCE
DTD 09/09/2021 1.300% 09/09/2026
02665WDZ1 100,000.00 A- A3 11/29/21 12/01/21 98,522.00 1.62 296.11 99,451.13 94,475.90

CATERPILLAR FINL SERVICE
DTD 09/14/2021 1.150% 09/14/2026
14913R2Q9 200,000.00 A A2 11/29/21 12/01/21 196,978.00 1.48 491.94 198,872.23 189,100.20

HOME DEPOT INC (CALLABLE)
DTD 09/15/2016 2.125% 09/15/2026
437076BN1 90,000.00 A A2 08/18/23 08/22/23 82,573.20 5.07 403.75 85,663.77 86,486.40

WELLS FARGO & COMPANY
DTD 10/25/2016 3.000% 10/23/2026
949746SH5 170,000.00 BBB+ A1 07/14/23 07/18/23 158,934.70 5.19 538.33 163,577.42 164,897.79

AMERICAN EXPRESS CO (CALLABLE)
DTD 11/04/2021 1.650% 11/04/2026
025816CM9 200,000.00 A- A2 11/29/21 12/01/21 199,538.00 1.70 247.50 199,819.42 189,145.80

JOHN DEERE CAPITAL CORP
DTD 01/10/2022 1.700% 01/11/2027
24422EWA3 125,000.00 A A1 01/11/22 01/13/22 124,295.00 1.82 826.39 124,702.00 118,306.38

COMCAST CORP (CALLABLE)
DTD 07/19/2016 2.350% 01/15/2027
20030NBW0 125,000.00 A- A3 04/24/23 04/26/23 116,687.50 4.30 1,109.72 120,257.09 119,597.13

MORGAN STANLEY
DTD 01/20/2017 3.625% 01/20/2027
61746BEF9 90,000.00 A- A1 07/14/23 07/18/23 85,723.20 5.12 1,187.19 87,393.93 88,464.69

BANK OF NY MELLON CORP (CALLABLE)
DTD 01/26/2022 2.050% 01/26/2027
06406RBA4 100,000.00 A Aa3 01/26/22 01/28/22 100,121.00 2.02 711.81 100,050.91 95,328.10

GOLDMAN SACHS GROUP INC (CALLABLE)
DTD 01/26/2017 3.850% 01/26/2027
38141GWB6 175,000.00 BBB+ A2 07/01/22 07/06/22 169,972.25 4.55 2,339.41 172,624.08 172,025.35

IBM CORP (CALLABLE)
DTD 02/09/2022 2.200% 02/09/2027
459200KM2 160,000.00 A- A3 02/23/22 02/25/22 158,025.60 2.47 1,095.11 159,127.90 152,356.16 PFM Asset Management, a division of Account 581-00 Page 12 U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Corporate Note

HONEYWELL INTERNATIONAL (CALLABLE)
DTD 08/16/2021 1.100% 03/01/2027
438516CE4 100,000.00 A A2 03/01/22 03/03/22 95,328.00 2.09 275.00 97,895.26 93,074.10

TRUIST FINANCIAL CORP (CALLABLE)
DTD 03/02/2021 1.267% 03/02/2027
89788MAD4 160,000.00 A- Baa1 03/10/22 03/14/22 150,336.00 2.57 501.17 155,616.61 153,121.76

STATE STREET CORP (CALLABLE)
DTD 03/18/2024 4.993% 03/18/2027
857477CL5 90,000.00 A Aa3 03/13/24 03/18/24 90,000.00 4.99 911.22 90,000.00 90,974.16

NORTHERN TRUST CORP (CALLABLE)
DTD 05/10/2022 4.000% 05/10/2027
665859AW4 100,000.00 A+ A2 05/10/22 05/12/22 100,966.00 3.79 233.33 100,463.88 99,023.80

UNITEDHEALTH GROUP INC (CALLABLE)
DTD 05/20/2022 3.700% 05/15/2027
91324PEG3 30,000.00 A+ A2 05/17/22 05/20/22 29,983.80 3.71 49.33 29,992.02 29,516.91

UNITEDHEALTH GROUP INC (CALLABLE)
DTD 05/20/2022 3.700% 05/15/2027
91324PEG3 120,000.00 A+ A2 06/02/22 06/06/22 120,979.20 3.52 197.33 120,478.12 118,067.64

PNC FINANCIAL SERVICES (CALLABLE)
DTD 05/19/2017 3.150% 05/19/2027
693475AT2 125,000.00 A- A3 08/04/22 08/08/22 122,647.50 3.58 131.25 123,786.16 120,991.38

INTEL CORP (CALLABLE)
DTD 08/05/2022 3.750% 08/05/2027
458140BY5 160,000.00 BBB+ Baa1 08/10/22 08/12/22 160,193.60 3.72 1,933.33 160,102.57 155,882.72

BP CAP MARKETS AMERICA (CALLABLE)
DTD 05/17/2024 5.017% 11/17/2027
10373QBY5 115,000.00 A- A1 05/15/24 05/17/24 115,000.00 5.02 224.37 115,000.00 116,678.66 AMAZON.COM INC (CALLABLE)
DTD 12/01/2022 4.550% 12/01/2027
023135CP9 150,000.00 AA A1 12/06/22 12/07/22 150,585.00 4.46 3,412.50 150,348.21 151,088.25

JPMORGAN CHASE & CO (CALLABLE)
DTD 01/23/2024 5.040% 01/23/2028
46647PEA0 85,000.00 A A1 01/16/24 01/23/24 85,000.00 5.04 1,523.20 85,000.00 85,506.69

BRISTOL-MYERS SQUIBB CO (CALLABLE)
DTD 07/15/2020 3.900% 02/20/2028
110122DE5 125,000.00 A A2 03/14/23 03/17/23 121,061.25 4.62 1,367.71 122,425.26 123,077.38

NATIONAL RURAL UTIL COOP (CALLABLE)
DTD 12/16/2022 4.800% 03/15/2028
63743HFG2 125,000.00 A- A2 05/25/23 05/30/23 124,590.00 4.88 1,266.67 124,718.59 126,311.00

WALMART INC (CALLABLE)
DTD 04/18/2023 3.900% 04/15/2028
931142FB4 75,000.00 AA Aa2 04/12/23 04/18/23 74,862.00 3.94 373.75 74,906.77 74,242.28 PFM Asset Management, a division of Account 581-00 Page 13 U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Corporate Note

HERSHEY COMPANY (CALLABLE)
DTD 05/04/2023 4.250% 05/04/2028
427866BH0 40,000.00 A A1 05/01/23 05/04/23 39,942.80 4.28 127.50 39,960.82 39,974.28

LOCKHEED MARTIN CORP (CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
539830BZ1 15,000.00 A- A2 05/23/23 05/25/23 14,973.00 4.49 29.67 14,981.24 15,024.80

LOCKHEED MARTIN CORP (CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
539830BZ1 45,000.00 A- A2 06/02/23 06/06/23 44,838.00 4.53 89.00 44,886.72 45,074.39

META PLATFORMS INC (CALLABLE)
DTD 05/03/2023 4.600% 05/15/2028
30303M8L9 100,000.00 AA- Aa3 06/01/23 06/05/23 100,150.00 4.56 204.44 100,104.83 100,853.50

AUTOMATIC DATA PROCESSNG (CALLABLE)
DTD 05/14/2021 1.700% 05/15/2028
053015AG8 250,000.00 AA- Aa3 05/25/23 05/30/23 220,097.50 4.41 188.89 229,160.39 229,397.50

MERCK & CO INC (CALLABLE)
DTD 05/17/2023 4.050% 05/17/2028
58933YBH7 60,000.00 A+ A1 05/08/23 05/17/23 59,951.40 4.07 94.50 59,966.36 59,643.18

NATIONAL AUSTRALIA BK/NY
DTD 06/13/2023 4.900% 06/13/2028
63253QAE4 250,000.00 AA- Aa2 06/06/23 06/13/23 249,572.50 4.94 5,716.67 249,697.90 253,550.50

AMERICAN HONDA FINANCE
DTD 07/07/2023 5.125% 07/07/2028
02665WEM9 80,000.00 A- A3 07/05/23 07/07/23 79,964.80 5.14 1,640.00 79,974.66 81,462.64

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 20,000.00 A A1 07/11/23 07/14/23 19,970.20 4.98 376.75 19,978.43 20,349.94

PACCAR FINANCIAL CORP
DTD 08/10/2023 4.950% 08/10/2028
69371RS64 100,000.00 A+ A1 08/03/23 08/10/23 99,842.00 4.99 1,526.25 99,883.34 101,744.20

TOYOTA MOTOR CREDIT CORP
DTD 09/11/2023 5.250% 09/11/2028
89236TLB9 85,000.00 A+ A1 09/06/23 09/11/23 84,852.10 5.29 991.67 84,884.99 87,180.85

ANALOG DEVICES INC (CALLABLE)
DTD 10/05/2021 1.700% 10/01/2028
032654AU9 150,000.00 A- A2 10/30/23 11/01/23 125,841.00 5.48 425.00 131,164.17 135,660.30

CISCO SYSTEMS INC (CALLABLE)
DTD 02/26/2024 4.850% 02/26/2029
17275RBR2 110,000.00 AA- A1 02/21/24 02/26/24 109,961.50 4.86 1,407.85 109,967.10 111,763.30

BLACKROCK FUNDING INC (CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 15,000.00 AA- Aa3 03/05/24 03/14/24 14,972.85 4.74 150.79 14,976.40 15,165.08 PFM Asset Management, a division of Account 581-00 Page 14 U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market Par
Corporate Note

BLACKROCK FUNDING INC (CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 225,000.00 AA- Aa3 03/07/24 03/14/24 225,555.75 4.64 2,261.88 225,484.49 227,476.13

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 85,000.00 A+ A1 04/01/24 04/04/24 84,873.35 4.83 646.00 84,888.39 86,298.29

HOME DEPOT INC (CALLABLE)
DTD 06/25/2024 4.750% 06/25/2029
437076DC3 25,000.00 A A2 06/17/24 06/25/24 24,838.75 4.90 514.58 24,851.26 25,267.20

PEPSICO INC (CALLABLE)
DTD 07/17/2024 4.500% 07/17/2029
713448FX1 105,000.00 A+ A1 07/15/24 07/17/24 104,837.25 4.53 1,758.75 104,848.60 105,746.03

CITIBANK NA (CALLABLE)
DTD 08/06/2024 4.838% 08/06/2029
17325FBK3 250,000.00 A+ Aa3 08/05/24 08/06/24 251,997.50 4.66 3,863.68 251,880.93 251,477.50

PACCAR FINANCIAL CORP
DTD 09/26/2024 4.000% 09/26/2029
69371RT48 50,000.00 A+ A1 09/23/24 09/26/24 49,897.00 4.05 361.11 49,900.44 48,892.30 Security Type Sub-Total 5,935,000.00 5,815,094.00 4.06 52,816.97 5,861,334.71 5,829,934.70 Certificate of Deposit

COOPERAT RABOBANK UA/NY
DTD 07/20/2023 5.080% 07/17/2026
21684LGS5 250,000.00 A+ Aa2 07/17/23 07/20/23 250,000.00 5.08 4,727.22 250,000.00 254,395.25

NATIXIS NY BRANCH
DTD 09/20/2023 5.610% 09/18/2026
63873QP65 150,000.00 A+ A1 09/18/23 09/20/23 150,000.00 5.61 1,729.75 150,000.00 153,416.10 Security Type Sub-Total 400,000.00 400,000.00 5.28 6,456.97 400,000.00 407,811.35 Managed Account Sub-Total 22,853,165.58 22,095,917.09 3.72 126,491.01 22,299,198.42 22,119,761.74 Joint Powers Authority
CAMP Pool 19,791.34 AAAm NR 19,791.34 0.00 19,791.34 19,791.34 Liquid Sub-Total 19,791.34 19,791.34 0.00 19,791.34 19,791.34 PFM Asset Management, a division of Account 581-00 Page 15 U.S. Bancorp Asset Management, Inc.

Managed Account Detail of Securities Held For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
$22,872,956.92 $22,115,708.43 3.72% $126,491.01 $22,318,989.76 $22,139,553.08 $22,266,044.09
$126,491.01
Total Investments
Accrued Interest
Securities Sub-Total
PFM Asset Management, a division of Account 581-00 Page 16 U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B 91282CJB8 100,000.00 Nomura 100.46 100,456.30 (8.54) 238.99 DTD 10/02/2023 5.000% 09/30/2025

0.81 4.02
US TREASURY N/B 91282CJB8 200,000.00 Citigrou 100.46 200,912.60 318.85 581.08 DTD 10/02/2023 5.000% 09/30/2025

0.81 4.02
US TREASURY N/B 91282CAT8 505,000.00 WellsFar 96.33 486,460.95 (9,879.09) (16,627.33) DTD 11/02/2020 0.250% 10/31/2025

0.90 4.44
US TREASURY N/B 91282CJL6 240,000.00 WellsFar 100.49 241,170.00 (583.13) (373.94) DTD 11/30/2023 4.875% 11/30/2025

0.96 4.42
US TREASURY N/B 91282CBC4 185,000.00 JPMorgan 95.84 177,303.63 (7,298.91) (7,608.81) DTD 12/31/2020 0.375% 12/31/2025

1.06 4.35
US TREASURY N/B 91282CBC4 360,000.00 HSBC 95.84 345,023.28 (9,140.78) (13,619.92) DTD 12/31/2020 0.375% 12/31/2025

1.06 4.35
US TREASURY N/B 91282CBH3 85,000.00 Citigrou 95.53 81,201.61 (2,158.16) (3,410.20) DTD 02/01/2021 0.375% 01/31/2026

1.15 4.37
US TREASURY N/B 91282CBH3 195,000.00 Citigrou 95.53 186,286.04 (6,070.80) (8,015.02) DTD 02/01/2021 0.375% 01/31/2026

1.15 4.37
US TREASURY N/B 91282CBH3 315,000.00 BNPPSA 95.53 300,923.60 (8,022.49) (12,531.18) DTD 02/01/2021 0.375% 01/31/2026

1.15 4.37
US TREASURY N/B 91282CKB6 150,000.00 WellsFar 100.36 150,539.10 433.63 463.67 DTD 02/29/2024 4.625% 02/28/2026

1.19 4.32
US TREASURY N/B 91282CGV7 330,000.00 Citigrou 99.30 327,692.64 3,570.76 1,664.34 DTD 04/17/2023 3.750% 04/15/2026

1.32 4.28
US TREASURY N/B 91282CCF6 350,000.00 WellsFar 94.94 332,294.90 (396.51) (11,662.59) DTD 06/01/2021 0.750% 05/31/2026

1.46 4.27
US TREASURY N/B 91282CCF6 480,000.00 WellsFar 94.94 455,718.72 (15,731.28) (21,434.76) DTD 06/01/2021 0.750% 05/31/2026

1.46 4.27
US TREASURY N/B 91282CCJ8 300,000.00 BMO 94.88 284,648.40 (18,398.48) (16,331.50) DTD 06/30/2021 0.875% 06/30/2026

1.54 4.25
US TREASURY N/B 91282CHM6 200,000.00 WellsFar 100.39 200,789.00 (1,445.38) (693.06) DTD 07/17/2023 4.500% 07/15/2026

1.53 4.24
US TREASURY N/B 91282CCW9 175,000.00 WellsFar 94.20 164,855.43 (9,700.23) (9,988.55) DTD 08/31/2021 0.750% 08/31/2026

1.71 4.23
US TREASURY N/B 912828YQ7 200,000.00 Citigrou 95.34 190,687.60 (12,906.15) (10,723.65) DTD 10/31/2019 1.625% 10/31/2026

1.85 4.18
PFM Asset Management, a division of Account 581-00 Page 17 U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B 912828YQ7 1,000,000.00 MorganSt 95.34 953,438.00 898.94 (1,072.39) DTD 10/31/2019 1.625% 10/31/2026

1.85 4.18
US TREASURY N/B 912828U24 100,000.00 WellsFar 95.93 95,933.60 234.38 182.10 DTD 11/15/2016 2.000% 11/15/2026

1.89 4.19
US TREASURY N/B 912828U24 110,000.00 WellsFar 95.93 105,526.96 85.94 (68.69) DTD 11/15/2016 2.000% 11/15/2026

1.89 4.19
US TREASURY N/B 91282CDK4 150,000.00 Nomura 94.42 141,632.85 (8,794.88) (8,538.20) DTD 11/30/2021 1.250% 11/30/2026

1.94 4.19
US TREASURY N/B 91282CDQ1 235,000.00 RBS 94.23 221,450.84 (12,447.60) (13,089.42) DTD 12/31/2021 1.250% 12/31/2026

2.01 4.17
US TREASURY N/B 912828V98 145,000.00 BOFAML 96.01 139,211.31 (2,141.03) (4,009.02) DTD 02/15/2017 2.250% 02/15/2027

2.11 4.16
US TREASURY N/B 912828V98 155,000.00 BOFAML 96.01 148,812.09 (3,021.31) (4,645.75) DTD 02/15/2017 2.250% 02/15/2027

2.11 4.16
US TREASURY N/B 912828ZB9 175,000.00 BMO 93.55 163,720.73 8,148.46 1,259.19 DTD 03/02/2020 1.125% 02/28/2027

2.17 4.16
US TREASURY N/B 91282CFB2 215,000.00 WellsFar 96.51 207,500.16 1,511.68 (777.51) DTD 08/01/2022 2.750% 07/31/2027

2.51 4.14
US TREASURY N/B 91282CFB2 220,000.00 WellsFar 96.51 212,325.74 60.11 (747.96) DTD 08/01/2022 2.750% 07/31/2027

2.51 4.14
US TREASURY N/B 9128282R0 125,000.00 BOFAML 95.26 119,072.25 4,775.37 126.11 DTD 08/15/2017 2.250% 08/15/2027

2.57 4.17
US TREASURY N/B 9128282R0 150,000.00 WellsFar 95.26 142,886.70 (709.00) (1,199.52) DTD 08/15/2017 2.250% 08/15/2027

2.57 4.17
US TREASURY N/B 9128282R0 220,000.00 Citigrou 95.26 209,567.16 (1,804.72) (2,466.42) DTD 08/15/2017 2.250% 08/15/2027

2.57 4.17
US TREASURY N/B 9128282R0 360,000.00 BMO 95.26 342,928.08 6,201.52 (3,654.35) DTD 08/15/2017 2.250% 08/15/2027

2.57 4.17
US TREASURY N/B 91282CAL5 200,000.00 BMO 90.07 180,140.60 3,562.47 (1,708.77) DTD 09/30/2020 0.375% 09/30/2027

2.76 4.13
US TREASURY N/B 91282CAU5 200,000.00 BOFAML 90.15 180,304.60 10,476.47 (1,455.13) DTD 11/02/2020 0.500% 10/31/2027

2.84 4.17
US TREASURY N/B 9128283F5 500,000.00 BOFAML 94.83 474,160.00 5,742.03 (6,356.29) DTD 11/15/2017 2.250% 11/15/2027

2.81 4.12
PFM Asset Management, a division of Account 581-00 Page 18 U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B 91282CGC9 120,000.00 BMO 99.32 119,179.68 (2,109.38) (1,668.39) DTD 01/03/2023 3.875% 12/31/2027

2.83 4.11
US TREASURY N/B 91282CGC9 215,000.00 Barclays 99.32 213,530.26 3,594.52 2,950.13 DTD 01/03/2023 3.875% 12/31/2027

2.83 4.11
US TREASURY N/B 91282CBZ3 50,000.00 RBS 90.90 45,449.20 1,027.32 (670.10) DTD 04/30/2021 1.250% 04/30/2028

3.28 4.17
US TREASURY N/B 91282CCH2 550,000.00 MorganSt 90.52 497,835.80 22,536.97 5,335.47 DTD 06/30/2021 1.250% 06/30/2028

3.42 4.17
US TREASURY N/B 91282CDF5 250,000.00 MorganSt 90.19 225,478.50 3,437.48 (1,817.73) DTD 11/01/2021 1.375% 10/31/2028

3.74 4.16
US TREASURY N/B 91282CDF5 270,000.00 Citigrou 90.19 243,516.78 6,212.09 1,003.14 DTD 11/01/2021 1.375% 10/31/2028

3.74 4.16
US TREASURY N/B 9128285M8 100,000.00 Nomura 96.44 96,437.50 1,257.81 551.70 DTD 11/15/2018 3.125% 11/15/2028

3.66 4.11
US TREASURY N/B 9128285M8 200,000.00 BOFAML 96.44 192,875.00 2,843.75 855.52 DTD 11/15/2018 3.125% 11/15/2028

3.66 4.11
US TREASURY N/B 9128285M8 240,000.00 WellsFar 96.44 231,450.00 2,821.87 548.76 DTD 11/15/2018 3.125% 11/15/2028

3.66 4.11
US TREASURY N/B 91282CDW8 170,000.00 BMO 91.04 154,759.84 358.67 (2,209.74) DTD 01/31/2022 1.750% 01/31/2029

3.92 4.11
US TREASURY N/B 9128286B1 250,000.00 BOFAML 94.32 235,800.75 5,585.91 3,714.01 DTD 02/15/2019 2.625% 02/15/2029

3.90 4.15
US TREASURY N/B 9128286B1 350,000.00 BOFAML 94.32 330,121.05 10,732.38 7,362.87 DTD 02/15/2019 2.625% 02/15/2029

3.90 4.15
US TREASURY N/B 91282CEM9 165,000.00 BOFAML 95.05 156,840.26 3,151.78 2,273.42 DTD 05/02/2022 2.875% 04/30/2029

4.07 4.11
US TREASURY N/B 91282CEM9 240,000.00 BOFAML 95.05 228,131.28 (1,490.60) (2,152.67) DTD 05/02/2022 2.875% 04/30/2029

4.07 4.11
US TREASURY N/B 91282CEV9 125,000.00 Nomura 96.45 120,561.50 (2,358.42) (2,452.47) DTD 06/30/2022 3.250% 06/30/2029

4.14 4.11
US TREASURY N/B 91282CEV9 190,000.00 BOFAML 96.45 183,253.48 (2,508.63) (2,699.69) DTD 06/30/2022 3.250% 06/30/2029

4.14 4.11
US TREASURY N/B 91282CFC0 290,000.00 Nomura 93.78 271,965.77 (6,717.43) (7,064.48) DTD 08/01/2022 2.625% 07/31/2029

4.28 4.10
PFM Asset Management, a division of Account 581-00 Page 19 U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
U.S. Treasury Bond / Note
US TREASURY N/B 91282CFL0 140,000.00 BMO 99.00 138,594.54 136.73 112.15 DTD 09/30/2022 3.875% 09/30/2029

4.33 4.11
US TREASURY N/B 91282CFL0 225,000.00 BOFAML 99.00 222,741.23 852.56 810.55 DTD 09/30/2022 3.875% 09/30/2029

4.33 4.11
US TREASURY N/B 91282CFT3 100,000.00 Citigrou 99.56 99,562.50 902.34 896.02 DTD 10/31/2022 4.000% 10/31/2029

4.40 4.10
Security Type Sub-Total 12,870,000.00 12,273,660.39 (34,370.14) (172,615.98) 2.43 4.20 Municipal Bond / Note
CONNECTICUT ST 20772KEW5 115,000.00 JPMorgan 99.47 114,388.66 (16,438.79) (3,200.62) DTD 09/13/2018 3.743% 09/15/2025

0.77 4.43
LOS ANGELES UN SD-B 544647FC9 50,000.00 Barclays 95.48 47,741.55 (2,258.45) (2,258.45) DTD 11/10/2021 1.455% 07/01/2026

1.54 4.49
Security Type Sub-Total 165,000.00 162,130.21 (18,697.24) (5,459.07) 0.99 4.45 Federal Agency Commercial Mortgage-Backed Security
FHMS K734 A2 3137FLN34 203,320.72 Barclays 98.57 200,422.79 5,902.05 1,400.41 DTD 04/01/2019 3.208% 02/01/2026

0.92 4.58
FHMS K058 A2 3137BSP72 200,000.00 CantorFi 96.94 193,875.40 2,976.96 (1,423.13) DTD 11/01/2016 2.653% 08/01/2026

1.63 4.50
FHMS K061 A2 3137BTUM1 136,789.84 Citigrou 97.72 133,673.91 1,094.62 (731.84) DTD 01/01/2017 3.347% 11/01/2026

1.78 4.56
FHMS K063 A2 3137BVZ82 200,000.00 CantorFi 97.89 195,776.20 1,830.89 (676.24) DTD 03/01/2017 3.430% 01/01/2027

1.91 4.49
FHMS K064 A2 3137BXQY1 225,000.00 MorganSt 97.41 219,165.08 6,926.80 2,371.15 DTD 05/01/2017 3.224% 03/01/2027

2.04 4.47
FHMS K065 A2 3137F1G44 215,000.00 Citigrou 97.23 209,053.96 3,031.89 (373.53) DTD 07/01/2017 3.243% 04/01/2027

2.19 4.49
FHMS K743 A2 3137H14B9 230,000.00 PNCBank 91.44 210,316.14 9,012.23 1,237.59 DTD 06/01/2021 1.770% 05/01/2028

3.26 4.51
FHMS KJ46 A1 3137HAD45 158,481.87 JPMorgan 100.02 158,517.84 39.95 38.87 DTD 07/01/2023 4.777% 06/01/2028

2.35 4.72
PFM Asset Management, a division of Account 581-00 Page 20 U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Federal Agency Commercial Mortgage-Backed Security
FHMS K505 A2 3137HACX2 200,000.00 JPMorgan 100.85 201,699.20 (298.40) 254.18 DTD 07/01/2023 4.819% 06/01/2028

3.13 4.54
FNA 2023-M6 A2 3136BQDE6 191,109.20 JPMorgan 98.65 188,534.01 664.70 (202.16) DTD 07/01/2023 4.190% 07/01/2028

3.26 4.59
FHMS KJ47 A1 3137HAMN3 108,463.95 JPMorgan 101.36 109,941.12 1,477.71 1,477.54 DTD 09/01/2023 5.272% 08/01/2028

2.59 4.71
FHMS K508 A2 3137HAQ74 200,000.00 BMO 100.66 201,323.20 5,710.40 4,799.80 DTD 10/01/2023 4.740% 08/01/2028

3.29 4.53
FHMS K506 A2 3137HAMH6 210,000.00 WellsFar 100.26 210,542.64 3,649.17 2,958.57 DTD 09/01/2023 4.650% 08/01/2028

3.27 4.56
FHMS K509 A2 3137HAST4 150,000.00 MorganSt 100.89 151,338.60 6,121.05 5,234.46 DTD 10/01/2023 4.850% 09/01/2028

3.36 4.58
FHMS K507 A2 3137HAMS2 200,000.00 BOFAML 100.74 201,479.80 3,870.40 3,390.69 DTD 09/01/2023 4.800% 09/01/2028

3.32 4.57
FHMS K510 A2 3137HB3D4 75,000.00 JPMorgan 101.65 76,240.65 1,457.47 1,416.73 DTD 11/01/2023 5.069% 10/01/2028

3.39 4.58
FHMS K511 A2 3137HB3G7 110,000.00 BOFAML 101.09 111,202.74 1,518.77 1,461.25 DTD 12/01/2023 4.860% 10/01/2028

3.43 4.54
FHMS K512 A2 3137HBCF9 105,000.00 JPMorgan 101.69 106,779.44 798.95 968.66 DTD 12/01/2023 5.000% 11/01/2028

3.44 4.51
FHMS K524 A2 3137HDV56 170,000.00 PIER 100.75 171,274.32 230.35 282.52 DTD 07/01/2024 4.720% 05/01/2029

3.92 4.54
FHMS K526 A2 3137HDXL9 195,000.00 BMO 100.03 195,068.05 (1,755.98) (1,658.49) DTD 08/01/2024 4.543% 07/01/2029

4.07 4.54
Security Type Sub-Total 3,483,165.58 3,446,225.09 54,259.98 22,227.03 2.79 4.55 Corporate Note
CITIGROUP INC (CALLABLE) 17327CAN3 25,000.00 Citigrou 01/25/25 99.53 24,881.80 (118.20) (118.20) DTD 01/25/2022 2.014% 01/25/2026

0.16 5.29
GOLDMAN SACHS GROUP INC (CALLABLE) 38141GXS8 125,000.00 BOFAML 02/12/25 99.22 124,021.75 (1,233.25) (1,039.48) DTD 02/12/2021 0.855% 02/12/2026

0.21 5.17
JPMORGAN CHASE & CO (CALLABLE) 46625HQW3 105,000.00 JPMorgan 01/01/26 98.41 103,328.51 3,178.46 728.49 DTD 03/23/2016 3.300% 04/01/2026

1.23 4.54
PFM Asset Management, a division of Account 581-00 Page 21 U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
TOYOTA MOTOR CREDIT CORP 89236TJK2 75,000.00 JPMorgan 95.16 71,369.40 (3,464.10) (3,576.52) DTD 06/18/2021 1.125% 06/18/2026

1.50 4.40
STATE STREET CORP (CALLABLE) 857477CD3 65,000.00 JPMorgan 07/03/26 101.17 65,762.84 739.44 750.09 DTD 08/03/2023 5.272% 08/03/2026

1.51 4.53
STATE STREET CORP (CALLABLE) 857477CD3 85,000.00 MorganSt 07/03/26 101.17 85,997.56 997.56 997.56 DTD 08/03/2023 5.272% 08/03/2026

1.51 4.53
BANK OF AMERICA NA (CALLABLE) 06428CAA2 300,000.00 BOFAML 07/17/26 101.61 304,830.30 4,830.30 4,830.30 DTD 08/18/2023 5.526% 08/18/2026

1.54 4.53
AMERICAN HONDA FINANCE 02665WDZ1 100,000.00 MorganSt 94.48 94,475.90 (4,046.10) (4,975.23) DTD 09/09/2021 1.300% 09/09/2026

1.72 4.58
CATERPILLAR FINL SERVICE 14913R2Q9 200,000.00 JPMorgan 94.55 189,100.20 (7,877.80) (9,772.03) DTD 09/14/2021 1.150% 09/14/2026

1.74 4.35
HOME DEPOT INC (CALLABLE) 437076BN1 90,000.00 Citigrou 06/15/26 96.10 86,486.40 3,913.20 822.63 DTD 09/15/2016 2.125% 09/15/2026

1.71 4.47
WELLS FARGO & COMPANY 949746SH5 170,000.00 JPMorgan 97.00 164,897.79 5,963.09 1,320.37 DTD 10/25/2016 3.000% 10/23/2026

1.82 4.71
AMERICAN EXPRESS CO (CALLABLE) 025816CM9 200,000.00 SUSQ 10/04/26 94.57 189,145.80 (10,392.20) (10,673.62) DTD 11/04/2021 1.650% 11/04/2026

1.86 4.63
JOHN DEERE CAPITAL CORP 24422EWA3 125,000.00 JPMorgan 94.65 118,306.38 (5,988.62) (6,395.62) DTD 01/10/2022 1.700% 01/11/2027

2.03 4.42
COMCAST CORP (CALLABLE) 20030NBW0 125,000.00 Barclays 10/15/26 95.68 119,597.13 2,909.63 (659.96) DTD 07/19/2016 2.350% 01/15/2027

1.99 4.51
MORGAN STANLEY 61746BEF9 90,000.00 BOFAML 98.29 88,464.69 2,741.49 1,070.76 DTD 01/20/2017 3.625% 01/20/2027

2.01 4.53
BANK OF NY MELLON CORP (CALLABLE) 06406RBA4 100,000.00 JPMorgan 12/24/26 95.33 95,328.10 (4,792.90) (4,722.81) DTD 01/26/2022 2.050% 01/26/2027

2.05 4.35
GOLDMAN SACHS GROUP INC (CALLABLE) 38141GWB6 175,000.00 Deutsche 01/26/26 98.30 172,025.35 2,053.10 (598.73) DTD 01/26/2017 3.850% 01/26/2027

1.72 4.70
IBM CORP (CALLABLE) 459200KM2 160,000.00 BMO 01/09/27 95.22 152,356.16 (5,669.44) (6,771.74) DTD 02/09/2022 2.200% 02/09/2027

2.09 4.56
HONEYWELL INTERNATIONAL (CALLABLE) 438516CE4 100,000.00 BNPPSA 02/01/27 93.07 93,074.10 (2,253.90) (4,821.16) DTD 08/16/2021 1.100% 03/01/2027

2.17 4.39
TRUIST FINANCIAL CORP (CALLABLE) 89788MAD4 160,000.00 JPMorgan 03/02/26 95.70 153,121.76 2,785.76 (2,494.85) DTD 03/02/2021 1.267% 03/02/2027

1.23 5.05
PFM Asset Management, a division of Account 581-00 Page 22 U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
STATE STREET CORP (CALLABLE) 857477CL5 90,000.00 MorganSt 02/18/27 101.08 90,974.16 974.16 974.16 DTD 03/18/2024 4.993% 03/18/2027

2.08 4.49
NORTHERN TRUST CORP (CALLABLE) 665859AW4 100,000.00 JPMorgan 04/10/27 99.02 99,023.80 (1,942.20) (1,440.08) DTD 05/10/2022 4.000% 05/10/2027

2.26 4.43
UNITEDHEALTH GROUP INC (CALLABLE) 91324PEG3 30,000.00 BOFAML 04/15/27 98.39 29,516.91 (466.89) (475.11) DTD 05/20/2022 3.700% 05/15/2027

2.28 4.40
UNITEDHEALTH GROUP INC (CALLABLE) 91324PEG3 120,000.00 Barclays 04/15/27 98.39 118,067.64 (2,911.56) (2,410.48) DTD 05/20/2022 3.700% 05/15/2027

2.28 4.40
PNC FINANCIAL SERVICES (CALLABLE) 693475AT2 125,000.00 BOFAML 04/19/27 96.79 120,991.38 (1,656.12) (2,794.78) DTD 05/19/2017 3.150% 05/19/2027

2.32 4.59
INTEL CORP (CALLABLE) 458140BY5 160,000.00 Citigrou 07/05/27 97.43 155,882.72 (4,310.88) (4,219.85) DTD 08/05/2022 3.750% 08/05/2027

2.46 4.83
BP CAP MARKETS AMERICA (CALLABLE) 10373QBY5 115,000.00 Deutsche 10/17/27 101.46 116,678.66 1,678.66 1,678.66 DTD 05/17/2024 5.017% 11/17/2027

2.68 4.48
AMAZON.COM INC (CALLABLE) 023135CP9 150,000.00 TD Secur 11/01/27 100.73 151,088.25 503.25 740.04 DTD 12/01/2022 4.550% 12/01/2027

2.74 4.29
JPMORGAN CHASE & CO (CALLABLE) 46647PEA0 85,000.00 JPMorgan 01/23/27 100.60 85,506.69 506.69 506.69 DTD 01/23/2024 5.040% 01/23/2028

1.99 5.08
BRISTOL-MYERS SQUIBB CO (CALLABLE) 110122DE5 125,000.00 GoldmanS 11/20/27 98.46 123,077.38 2,016.13 652.12 DTD 07/15/2020 3.900% 02/20/2028

2.87 4.42
NATIONAL RURAL UTIL COOP (CALLABLE) 63743HFG2 125,000.00 GoldmanS 02/15/28 101.05 126,311.00 1,721.00 1,592.41 DTD 12/16/2022 4.800% 03/15/2028

2.95 4.49
WALMART INC (CALLABLE) 931142FB4 75,000.00 MIZU 03/15/28 98.99 74,242.28 (619.72) (664.49) DTD 04/18/2023 3.900% 04/15/2028

3.07 4.22
HERSHEY COMPANY (CALLABLE) 427866BH0 40,000.00 BOFAML 04/04/28 99.94 39,974.28 31.48 13.46 DTD 05/04/2023 4.250% 05/04/2028

3.11 4.27
LOCKHEED MARTIN CORP (CALLABLE) 539830BZ1 15,000.00 Barclays 04/15/28 100.17 15,024.80 51.80 43.56 DTD 05/25/2023 4.450% 05/15/2028

3.13 4.44
LOCKHEED MARTIN CORP (CALLABLE) 539830BZ1 45,000.00 GoldmanS 04/15/28 100.17 45,074.39 236.39 187.67 DTD 05/25/2023 4.450% 05/15/2028

3.13 4.44
META PLATFORMS INC (CALLABLE) 30303M8L9 100,000.00 JPMorgan 04/15/28 100.85 100,853.50 703.50 748.67 DTD 05/03/2023 4.600% 05/15/2028

3.12 4.33
PFM Asset Management, a division of Account 581-00 Page 23 U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Corporate Note
AUTOMATIC DATA PROCESSNG 053015AG8 250,000.00 SUSQ 03/15/28 91.76 229,397.50 9,300.00 237.11 (CALLABLE)
DTD 05/14/2021 1.700% 05/15/2028

3.27 4.29
MERCK & CO INC (CALLABLE) 58933YBH7 60,000.00 Citigrou 04/17/28 99.41 59,643.18 (308.22) (323.18) DTD 05/17/2023 4.050% 05/17/2028

3.15 4.24
NATIONAL AUSTRALIA BK/NY 63253QAE4 250,000.00 TD Secur 101.42 253,550.50 3,978.00 3,852.60 DTD 06/13/2023 4.900% 06/13/2028

3.14 4.46
AMERICAN HONDA FINANCE 02665WEM9 80,000.00 Citigrou 101.83 81,462.64 1,497.84 1,487.98 DTD 07/07/2023 5.125% 07/07/2028

3.19 4.57
JOHN DEERE CAPITAL CORP 24422EXB0 20,000.00 Citigrou 101.75 20,349.94 379.74 371.51 DTD 07/14/2023 4.950% 07/14/2028

3.23 4.47
PACCAR FINANCIAL CORP 69371RS64 100,000.00 SUMITR 101.74 101,744.20 1,902.20 1,860.86 DTD 08/10/2023 4.950% 08/10/2028

3.30 4.48
TOYOTA MOTOR CREDIT CORP 89236TLB9 85,000.00 BOFAML 102.57 87,180.85 2,328.75 2,295.86 DTD 09/11/2023 5.250% 09/11/2028

3.37 4.55
ANALOG DEVICES INC (CALLABLE) 032654AU9 150,000.00 HSBC 08/01/28 90.44 135,660.30 9,819.30 4,496.13 DTD 10/05/2021 1.700% 10/01/2028

3.61 4.44
CISCO SYSTEMS INC (CALLABLE) 17275RBR2 110,000.00 Citigrou 01/26/29 101.60 111,763.30 1,801.80 1,796.20 DTD 02/26/2024 4.850% 02/26/2029

3.71 4.43
BLACKROCK FUNDING INC (CALLABLE) 09290DAA9 15,000.00 Citigrou 02/14/29 101.10 15,165.08 192.23 188.68 DTD 03/14/2024 4.700% 03/14/2029

3.77 4.41
BLACKROCK FUNDING INC (CALLABLE) 09290DAA9 225,000.00 KEYB 02/14/29 101.10 227,476.13 1,920.38 1,991.64 DTD 03/14/2024 4.700% 03/14/2029

3.77 4.41
ADOBE INC (CALLABLE) 00724PAF6 85,000.00 BOFAML 03/04/29 101.53 86,298.29 1,424.94 1,409.90 DTD 04/04/2024 4.800% 04/04/2029

3.82 4.41
HOME DEPOT INC (CALLABLE) 437076DC3 25,000.00 MorganSt 05/25/29 101.07 25,267.20 428.45 415.94 DTD 06/25/2024 4.750% 06/25/2029

3.95 4.49
PEPSICO INC (CALLABLE) 713448FX1 105,000.00 Citigrou 06/17/29 100.71 105,746.03 908.78 897.43 DTD 07/17/2024 4.500% 07/17/2029

4.03 4.33
CITIBANK NA (CALLABLE) 17325FBK3 250,000.00 Citigrou 07/06/29 100.59 251,477.50 (520.00) (403.43) DTD 08/06/2024 4.838% 08/06/2029

4.05 4.69
PACCAR FINANCIAL CORP 69371RT48 50,000.00 JPMorgan 97.78 48,892.30 (1,004.70) (1,008.14) DTD 09/26/2024 4.000% 09/26/2029

4.29 4.52
PFM Asset Management, a division of Account 581-00 Page 24 U.S. Bancorp Asset Management, Inc.

Managed Account Fair Market Value & Analytics For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Dated Date/Coupon/Maturity CUSIP Par Broker Date Price Value On Cost Amort Cost at Mkt Security Type/Description Next Call Market Market Unreal G/L Unreal G/L Effective YTM Duration
Security Type Sub-Total 5,935,000.00 5,829,934.70 14,840.70 (31,400.01) 2.50 4.53 Certificate of Deposit
COOPERAT RABOBANK UA/NY 21684LGS5 250,000.00 RABO UA 101.76 254,395.25 4,395.25 4,395.25 DTD 07/20/2023 5.080% 07/17/2026

1.54 3.91
NATIXIS NY BRANCH 63873QP65 150,000.00 WellsFar 102.28 153,416.10 3,416.10 3,416.10 DTD 09/20/2023 5.610% 09/18/2026

1.72 4.18
Security Type Sub-Total 400,000.00 407,811.35 7,811.35 7,811.35 1.60 4.01 Managed Account Sub-Total 22,853,165.58 22,119,761.74 23,844.65 (179,436.68) 2.48 4.34 Joint Powers Authority
CAMP Pool 19,791.34 1.00 19,791.34 0.00 0.00 0.00
Liquid Sub-Total 19,791.34 19,791.34 0.00 0.00 0.00
Total Investments $22,266,044.09
$126,491.01
$22,139,553.08
Accrued Interest
Securities Sub-Total $22,872,956.92 $23,844.65 ($179,436.68) 2.48 4.34% PFM Asset Management, a division of Account 581-00 Page 25 U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
BUY
11/05/24 US TREASURY N/B
DTD 11/15/2016 2.000% 11/15/2026
11/01/24 912828U24 110,000.00 (105,441.02) (1,040.22) (106,481.24) 11/05/24 US TREASURY N/B
DTD 09/30/2022 3.875% 09/30/2029
11/01/24 91282CFL0 225,000.00 (221,888.67) (862.29) (222,750.96) 11/22/24 US TREASURY N/B
DTD 10/31/2022 4.000% 10/31/2029
11/20/24 91282CFT3 100,000.00 (98,660.16) (243.09) (98,903.25) 11/22/24 US TREASURY N/B
DTD 11/15/2016 2.000% 11/15/2026
11/20/24 912828U24 100,000.00 (95,699.22) (38.67) (95,737.89) Transaction Type Sub-Total 535,000.00 (521,689.07) (2,184.27) (523,873.34)

INTEREST
11/25/24 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
11/01/24 3137HAMH6 0.00 813.75 813.75
11/25/24 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
11/01/24 3137HAST4 0.00 606.25 606.25
11/25/24 FHMS K526 A2
DTD 08/01/2024 4.543% 07/01/2029
11/01/24 3137HDXL9 0.00 738.24 738.24
11/25/24 FHMS K058 A2
DTD 11/01/2016 2.653% 08/01/2026
11/01/24 3137BSP72 0.00 442.17 442.17
11/25/24 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
11/01/24 3137HAD45 0.00 631.30 631.30
11/25/24 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
11/01/24 3137HB3G7 0.00 445.50 445.50
11/25/24 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
11/01/24 3137BTUM1 0.00 382.28 382.28
11/25/24 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
11/01/24 3137HBCF9 0.00 437.50 437.50
11/25/24 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
11/01/24 3137F1G44 0.00 581.04 581.04
11/25/24 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
11/01/24 3136BQDE6 0.00 667.29 667.29
11/25/24 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
11/01/24 3137BXQY1 0.00 604.50 604.50
PFM Asset Management, a division of Account 581-00 Page 26 U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method

INTEREST
11/25/24 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
11/01/24 3137HAMN3 0.00 477.52 477.52
11/25/24 FHMS K734 A2
DTD 04/01/2019 3.208% 02/01/2026
11/01/24 3137FLN34 0.00 544.10 544.10
11/25/24 FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
11/01/24 3137HB3D4 0.00 316.81 316.81
11/25/24 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
11/01/24 3137HDV56 0.00 668.67 668.67
11/25/24 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
11/01/24 3137HAMS2 0.00 800.00 800.00
11/25/24 FHMS K063 A2
DTD 03/01/2017 3.430% 01/01/2027
11/01/24 3137BVZ82 0.00 571.67 571.67
11/25/24 FHMS K743 A2
DTD 06/01/2021 1.770% 05/01/2028
11/01/24 3137H14B9 0.00 339.25 339.25
11/25/24 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
11/01/24 3137HACX2 0.00 803.17 803.17
11/25/24 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
11/01/24 3137HAQ74 0.00 790.00 790.00
11/04/24 HERSHEY COMPANY (CALLABLE)
DTD 05/04/2023 4.250% 05/04/2028
11/04/24 427866BH0 0.00 850.00 850.00
11/04/24 AMERICAN EXPRESS CO (CALLABLE)
DTD 11/04/2021 1.650% 11/04/2026
11/04/24 025816CM9 0.00 1,650.00 1,650.00
11/10/24 NORTHERN TRUST CORP (CALLABLE)
DTD 05/10/2022 4.000% 05/10/2027
11/10/24 665859AW4 0.00 2,000.00 2,000.00
11/15/24 US TREASURY N/B
DTD 11/15/2017 2.250% 11/15/2027
11/15/24 9128283F5 0.00 5,625.00 5,625.00
11/15/24 US TREASURY N/B
DTD 11/15/2016 2.000% 11/15/2026
11/15/24 912828U24 0.00 1,100.00 1,100.00
11/15/24 AUTOMATIC DATA PROCESSNG
(CALLABLE)
DTD 05/14/2021 1.700% 05/15/2028
11/15/24 053015AG8 0.00 2,125.00 2,125.00
11/15/24 UNITEDHEALTH GROUP INC
(CALLABLE)
DTD 05/20/2022 3.700% 05/15/2027
11/15/24 91324PEG3 0.00 2,775.00 2,775.00
PFM Asset Management, a division of Account 581-00 Page 27 U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method

INTEREST
11/15/24 US TREASURY N/B
DTD 11/15/2018 3.125% 11/15/2028
11/15/24 9128285M8 0.00 8,437.50 8,437.50
11/15/24 LOCKHEED MARTIN CORP (CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
11/15/24 539830BZ1 0.00 1,335.00 1,335.00
11/15/24 META PLATFORMS INC (CALLABLE)
DTD 05/03/2023 4.600% 05/15/2028
11/15/24 30303M8L9 0.00 2,300.00 2,300.00
11/17/24 MERCK & CO INC (CALLABLE)
DTD 05/17/2023 4.050% 05/17/2028
11/17/24 58933YBH7 0.00 1,215.00 1,215.00
11/17/24 BP CAP MARKETS AMERICA
(CALLABLE)
DTD 05/17/2024 5.017% 11/17/2027
11/17/24 10373QBY5 0.00 2,884.78 2,884.78
11/19/24 PNC FINANCIAL SERVICES (CALLABLE)
DTD 05/19/2017 3.150% 05/19/2027
11/19/24 693475AT2 0.00 1,968.75 1,968.75
11/30/24 US TREASURY N/B
DTD 11/30/2023 4.875% 11/30/2025
11/30/24 91282CJL6 0.00 5,850.00 5,850.00
11/30/24 US TREASURY N/B
DTD 06/01/2021 0.750% 05/31/2026
11/30/24 91282CCF6 0.00 3,112.50 3,112.50
11/30/24 US TREASURY N/B
DTD 11/30/2021 1.250% 11/30/2026
11/30/24 91282CDK4 0.00 937.50 937.50
Transaction Type Sub-Total 0.00 55,827.04 55,827.04

PAYDOWNS
11/25/24 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
11/01/24 3137HAD45 103.03 103.03 0.00 103.03 0.00 0.00
11/25/24 FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
11/01/24 3136BQDE6 1.08 1.08 0.00 1.08 0.02 0.01
11/25/24 FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
11/01/24 3137BTUM1 268.57 268.57 0.00 268.57 8.26 4.87
11/25/24 FHMS K734 A2
DTD 04/01/2019 3.208% 02/01/2026
11/01/24 3137FLN34 207.77 207.77 0.00 207.77 8.99 4.69
11/25/24 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
11/01/24 3137HAMN3 228.81 228.81 0.00 228.81 0.00 0.00
Transaction Type Sub-Total 809.26 809.26 0.00 809.26 17.27 9.57 PFM Asset Management, a division of Account 581-00 Page 28 U.S. Bancorp Asset Management, Inc.

Managed Account Security Transactions & Interest For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00 - (12515330)
Transaction Type
Trade Settle Security Description CUSIP Par Proceeds
Principal Accrued
Interest Total Cost
Realized G/L Realized G/L Sale
Amort Cost Method
SELL
11/05/24 FREDDIE MAC
DTD 09/25/2020 0.375% 09/23/2025
11/01/24 3137EAEX3 215,000.00 207,698.60 94.06 207,792.66 (6,654.25) (7,186.94) FIFO 11/21/24 WALMART INC (CALLABLE)
DTD 09/09/2022 3.950% 09/09/2027
11/19/24 931142EX7 165,000.00 163,255.95 1,303.50 164,559.45 (2,011.35) (1,892.16) FIFO Transaction Type Sub-Total 380,000.00 370,954.55 1,397.56 372,352.11 (8,665.60) (9,079.10) Managed Account Sub-Total (149,925.26) 55,040.33 (94,884.93) (8,648.33) (9,069.53) Total Security Transactions ($149,925.26) $55,040.33 ($94,884.93) ($8,648.33) ($9,069.53) PFM Asset Management, a division of Account 581-00 Page 29 U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
Opening Balance 126,451.20
11/04/24 11/04/24 Purchase - Interest 025816CM9 1.00 1,650.00 128,101.20 11/04/24 11/04/24 Purchase - Interest 427866BH0 1.00 850.00 128,951.20 11/05/24 11/05/24 Purchase - Interest 3137EAEX3 1.00 94.06 129,045.26 11/05/24 11/05/24 Purchase - Principal 3137EAEX3 1.00 207,698.60 336,743.86 11/05/24 11/05/24 Redemption - Principal 912828U24 1.00 (105,441.02) 231,302.84 11/05/24 11/05/24 Redemption - Interest 912828U24 1.00 (1,040.22) 230,262.62 11/05/24 11/05/24 Redemption - Interest 91282CFL0 1.00 (862.29) 229,400.33 11/05/24 11/05/24 Redemption - Principal 91282CFL0 1.00 (221,888.67) 7,511.66 11/12/24 11/12/24 Purchase - Interest 665859AW4 1.00 2,000.00 9,511.66 11/15/24 11/15/24 Purchase - Interest 053015AG8 1.00 2,125.00 11,636.66 11/15/24 11/15/24 Purchase - Interest 30303M8L9 1.00 2,300.00 13,936.66 11/15/24 11/15/24 Purchase - Interest 539830BZ1 1.00 1,335.00 15,271.66 11/15/24 11/15/24 Purchase - Interest 9128283F5 1.00 5,625.00 20,896.66 11/15/24 11/15/24 Purchase - Interest 9128285M8 1.00 8,437.50 29,334.16 11/15/24 11/15/24 Purchase - Interest 912828U24 1.00 1,100.00 30,434.16 11/15/24 11/15/24 Purchase - Interest 91324PEG3 1.00 2,775.00 33,209.16 11/18/24 11/18/24 Purchase - Interest 10373QBY5 1.00 2,884.78 36,093.94 11/18/24 11/18/24 Purchase - Interest 58933YBH7 1.00 1,215.00 37,308.94 11/19/24 11/19/24 Purchase - Interest 693475AT2 1.00 1,968.75 39,277.69 11/21/24 11/21/24 Purchase - Principal 931142EX7 1.00 163,255.95 202,533.64 11/21/24 11/21/24 Purchase - Interest 931142EX7 1.00 1,303.50 203,837.14 PFM Asset Management, a division of Account 581-00 Page 30 U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
11/22/24 11/22/24 Redemption - Interest 912828U24 1.00 (38.67) 203,798.47 11/22/24 11/22/24 Redemption - Principal 912828U24 1.00 (95,699.22) 108,099.25 11/22/24 11/22/24 Redemption - Principal 91282CFT3 1.00 (98,660.16) 9,439.09 11/22/24 11/22/24 Redemption - Interest 91282CFT3 1.00 (243.09) 9,196.00 11/25/24 11/25/24 Purchase - Interest 3137BTUM1 1.00 382.28 9,578.28 11/25/24 11/25/24 Purchase - Interest 3137BVZ82 1.00 571.67 10,149.95 11/25/24 11/25/24 Purchase - Interest 3137BXQY1 1.00 604.50 10,754.45 11/25/24 11/25/24 Purchase - Interest 3137F1G44 1.00 581.04 11,335.49 11/25/24 11/25/24 Purchase - Interest 3137FLN34 1.00 544.10 11,879.59 11/25/24 11/25/24 Purchase - Interest 3137H14B9 1.00 339.25 12,218.84 11/25/24 11/25/24 Purchase - Interest 3137HACX2 1.00 803.17 13,022.01 11/25/24 11/25/24 Purchase - Interest 3137HAD45 1.00 631.30 13,653.31 11/25/24 11/25/24 Purchase - Interest 3137HAMH6 1.00 813.75 14,467.06 11/25/24 11/25/24 Purchase - Interest 3137HAMN3 1.00 477.52 14,944.58 11/25/24 11/25/24 Purchase - Interest 3137HAMS2 1.00 800.00 15,744.58 11/25/24 11/25/24 Purchase - Interest 3137HAQ74 1.00 790.00 16,534.58 11/25/24 11/25/24 Purchase - Interest 3137HAST4 1.00 606.25 17,140.83 11/25/24 11/25/24 Purchase - Interest 3137HB3D4 1.00 316.81 17,457.64 11/25/24 11/25/24 Purchase - Interest 3137HB3G7 1.00 445.50 17,903.14 11/25/24 11/25/24 Purchase - Interest 3137HBCF9 1.00 437.50 18,340.64 11/25/24 11/25/24 Purchase - Interest 3137HDV56 1.00 668.67 19,009.31 11/25/24 11/25/24 Purchase - Interest 3137HDXL9 1.00 738.24 19,747.55 PFM Asset Management, a division of Account 581-00 Page 31 U.S. Bancorp Asset Management, Inc.

Account Statement For the Month Ending November 30, 2024 LOS ALTOS HILLS - OPERATING FUND - 581-00
Trade Settlement Share or Dollar Amount Total
Date Date Transaction Description Unit Price of Transaction Shares Owned CAMP Pool
11/25/24 11/25/24 Purchase - Interest 3136BQDE6 1.00 667.29 20,414.84 11/25/24 11/25/24 Purchase - Interest 3137BSP72 1.00 442.17 20,857.01 11/25/24 11/25/24 Purchase - Principal 3137BTUM1 1.00 268.57 21,125.58 11/25/24 11/25/24 Purchase - Principal 3137FLN34 1.00 207.77 21,333.35 11/25/24 11/25/24 Purchase - Principal 3137HAD45 1.00 103.03 21,436.38 11/25/24 11/25/24 Purchase - Principal 3137HAMN3 1.00 228.81 21,665.19 11/25/24 11/25/24 Purchase - Principal 3136BQDE6 1.00 1.08 21,666.27 11/29/24 11/29/24 IP Fees August 2024 1.00 (1,882.86) 19,783.41 11/29/24 11/29/24 U.S. Bank Fees July 2024 1.00 (147.69) 19,635.72 11/29/24 12/02/24 Accrual Income Div Reinvestment - Distributions 1.00 155.62 19,791.34 19,791.34
19,791.34
19,791.34
38,752.87
2,751.09

0.00 (8,303,866.18)
8,310,789.71
12,867.81
155.62
19,791.34

0.00 (525,903.89)
419,244.03
126,451.20
Monthly Distribution Yield
Average Monthly Balance
Closing Balance
Month of Fiscal YTD
Cash Dividends and Income
Closing Balance
Check Disbursements
Redemptions (Excl. Checks)
Purchases
Opening Balance
Closing Balance
November January-November

4.87%
PFM Asset Management, a division of Account 581-00 Page 32 U.S. Bancorp Asset Management, Inc.

Los Altos Hills Regular City Council Meeting Minutes Page 1 Thursday, December 19, 2024
Town of Los Altos Hills
City Council Regular Meeting Minutes
Thursday, December 19, 2024
Council Chambers, 26379 Fremont Road, Los Altos Hills, California

Present: Mayor Stanley Q. Mok, Vice Mayor Lisa Schmidt, Council Member Linda Swan, Council Member Kavita Tankha, Council Member George Tyson

Absent: None
Staff: City Manager Peter Pirnejad, City Attorney Steve Mattas, City Clerk Arika Birdsong-Miller, Deputy City Manager Cody Einfalt, Finance Director Thomas Leung, Community Development Director Jay Bradford, and Public Works Director WooJae Kim
CALL TO ORDER (6:00 P.M.)
Mayor Mok called the meeting to order at 6:00 P.M.

1. ROLL CALL
Mayor Stanley Mok, Vice Mayor Schmidt, Council Member Linda Swan, Council Member Kavita Tankha, and Council Member Tyson were present.

2. PLEDGE OF ALLEGIANCE- Recited

3. AGENDA REVIEW
Council Member Tankha made a motion to approve the agenda placing ITEM 3D under ‘Presentations and Appointments’ to the ‘Consent Calendar’ and removing ITEM 7A from this agenda to a date uncertain. Council Member Swan seconded the motion. Approved, Vote 5-0.

4. PRESENTATIONS AND APPOINTMENTS
A. Proclamation Recognizing Art Curator Daniela Friedmann - Vice Mayor Schmidt recognized Art Curator Daniela Friedmann for her exceptional work and dedication in curating and installing art exhibits throughout Town Hall, enhancing the building's aesthetic and cultural appeal.

B. Presentation Honoring Los Altos Hills 2024 Lifetime Volunteer Award RecipientMayor Mok proudly presented the prestigious 2024 Lifetime Volunteer Award to Roy Woolsey in recognition of his exceptional dedication and years of invaluable service to the Town of Los Altos Hills. His unwavering commitment has left a lasting impact on the community, embodying the true spirit of volunteerism C. Presentation to Outgoing Vice Mayor Lisa Schmidt - Council Member Tyson delivered a presentation to outgoing Vice Mayor Lisa Schmidt, honoring her leadership as Vice Mayor in 2024 and her service as a Council Member during the other three of her four years in office. Her dedication and contributions have significantly shaped the Town of

Los Altos Hills Regular City Council Meeting Minutes Page 2 Thursday, December 19, 2024
Los Altos Hills. Supervisor Joe Simitian presented Vice Mayor Schmidt with a special recognition on behalf of the Board of Supervisors, honoring her contributions and service.

D. Vacating of Appointments to the Technology Committee- Rajiv Bhateja and Ron Haley—This item was moved to the CONSENT CALENDAR.

E. Interim Appointment to the North County Library Association – Vice Mayor Schmidt made a motion to appoint Council Member Swan as the interim representative to the North County Library Association. Council Member Tyson seconded the motion.

Approved, Vote 5-0.

F. Interim Appointment to the Santa Clara Valley Water District – Vice Mayor Schmidt made a motion to appoint Mayor Mok as the interim representative to the Santa Clara Valley Water District. Council Member Tyson seconded the motion. Approved, Vote 5-0.

5. PRESENTATIONS FROM THE FLOOR

1. Sergio Lopez, Mayor of the City of Campbell and Chair of Countywide Transit Agency VTA, informed the Council and the community that VTA plans to have a greater presence in the community.

2. Michael Grady, a Los Altos Hills resident, explained that the City Manager stated he is in the process of negotiating a development agreement with the owner of Twin Oaks. Mr.

Grady declared that the owner of Twin Oaks has no interest in negotiating with the Town.

Mr. Grady stated that he submitted a PRA and has yet to receive any responsive documentation from that request.

3. Eric Bredo, a Los Altos Hills resident, spoke about the number of units being discussed for development at the Twin Oaks site. Mr. Bredo asked that residents be informed about the status of the development agreement.

4. John O’Connell, a Los Altos Hills resident, stated that the City of Carmel is happy to collaborate and share their experience with the Housing Element with our City Council and staff. He noted that Carmel’s staff and residents are working together and providing monthly status reports to their Council.

5. Duffy Price, a Los Altos Hills resident, requested an amendment to the Housing Element.

6. Namrata, a Los Altos Hills resident, echoed the statements made by Mr. Grady and Mr.

Bredo, expressing concerns that adding so many houses in one area would place a significant strain on emergency services. She urged the City Council to amend the Housing Element.

7. Anaya Anand, a Los Altos Hills resident, asked the City Council to prioritize amending the Housing Element to limit the number of units in Twin Oaks.

Los Altos Hills Regular City Council Meeting Minutes Page 3 Thursday, December 19, 2024

8. RK Anand, a Los Altos Hills resident, requests that the Housing Element amendment be added to the next agenda.

9. Buvana Dayananda, a Los Altos Hills resident, emphasized the need for the Town to prioritize the Housing Element, considering the precedent set by the City of Carmel.

6. CONSENT CALENDAR
Council Member Swan made a motion to approve the Consent Calendar removing ITEM 6G and ITEM 6I to a date uncertain. Council Member Tankha seconded the motion. Approved, Vote 5-0.

A. Approval of the Special City Council Meeting Minutes - November 20, 2024 Approved, Vote 5-0.

B.. Approval of Regular City Council Meeting Minutes - November 21, 2024 Approved, Vote 5-0
C. Resolution Authorizing Deposit and Withdrawal from the Local Agency Investment Fund in the State Treasury Approved, Vote 5-0
D. Resolution Accepting the Town of Los Altos Hills Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2024 Approved, Vote 5-0.

E. Receive and Accept the Annual Report on Development Impact Fees in Compliance with AB1600 for the Fiscal Year Ended June 30, 2023 Approved, Vote 5-0.

F. Receive and Accept the Annual Report on Development Impact Fees in Compliance with AB1600 for the Fiscal Year Ended June 30, 2024 Approved, Vote 5-0.

G. Resolution Authorizing the Write-Off of Uncollectible Deposits Aged Over Three Years (Staff: T. Leung)--- REMOVED to date uncertain.

H. Resolution Granting the Request for Extension of the Expiration Dates for Building Permits at 26759 Shady Oaks Ct. Approved, Vote 5-0.

I. Resolution Approving Amendment No. 1 to the Upper Ravensbury Avenue Sanitary Sewer Reimbursement Agreement between the Town of Los Altos Hills and Dave Jessen (Staff: D.

Liang)--- REMOVED to date uncertain.

J. Resolution Approving a Treated Sewer Effluent Transfer Agreement between the Town of Los Altos Hills and the City of Palo Alto Approved, Vote 5-0.

7. NEW BUSINESS
A. Consideration for Council Members and Staff International Travel to Participate in the ERAT Program for Advancement of AI In Government Operations ---REMOVED to date uncertain.

B. Consideration to Agendize A Discussion Of The Town’s Public Safety Approach Regarding The Town’s ALPR System And Private Security Contracts- Council Member

Los Altos Hills Regular City Council Meeting Minutes Page 4 Thursday, December 19, 2024
Tankha made a motion to agendize this item at the January 30, 2025 Regular Council Meeting. Council Member Tyson seconded the motion. Approved, Vote 5-0.

8. REPORT FROM COMMITTEES, SUB_COMMITTEES, AND

COUNCILMEMBERS ON OUTSIDE AGENCIES
A. Council Member Tyson stated that the Rule 20A/ Undergrounding Project is going well.

9. COUNCIL INITIATED ITEMS

1. Mayor Mok requested to add an item on the January 30, 2025, Regular Meeting agenda to discuss an appreciation event for Supervisor Joe Simitian and Anna Eshoo.

10. STAFF REPORTS
A. City Attorney Steve Mattas had no report.

B. City Manager Peter Pirnejad, speaking on behalf of all the Department Heads, stated that there was no report at this time.

11. SPECIAL ITEMS
A. Recognition of Mayor Stanley Mok – Council Member Swan presented Mayor Mok with recognition for his dedicated service as the 2024 Mayor of the Town of Los Altos Hills.

Mayor Stanley Mok presented a PowerPoint highlighting his achievements throughout the year as Mayor and expressed his gratitude to the City Council for entrusting him with the honor of serving as Mayor in 2024.

B. Council Member-Elect Rajiv Bhateja Oath of Office
Council Member-Elect Stanley Mok Oath of Office
Council Member-Elect Linda Swan Oath of Office
Supervisor Simitian administered the Oath of Office to Council Member Bhateja, Council Member Mok, and Council Member Swan, formally swearing them into their respective positions.

C. City Council Reorganization

1. Election of New Mayor and administration of Oath of Office Council Member Bhateja made a motion to appoint Council Member Kavita Tankha to serve as Mayor. Council Member Swan seconded the motion.

Approved, Vote 5-0.

Supervisor Simitian administered the Oath of Office to Mayor Kavita Tankha.

Mayor Tankha expressed her gratitude to the Council for appointing her as Mayor for 2025 and thanked the community and her family for their ongoing support. A 20-year resident of the Town, Mayor Tankha shared her appreciation for the opportunity to serve a community she deeply values.

Los Altos Hills Regular City Council Meeting Minutes Page 5 Thursday, December 19, 2024

2. Election of New Vice Mayor and administration of Oath of Office Council Member Swan made a motion to appoint Council Member Rajiv Bhateja to serve as Vice Mayor. Council Member Mok seconded the motion.

Council Member Tyson began by expressing his disappointment with the process, noting that he expected public and City Council input before any motion was presented. He emphasized the importance of clarity and structure in governance to avoid ambiguity and chaos, which he believes can be disruptive to the community.

Council Member Tyson advocated for maintaining tradition in leadership transitions, where roles such as vice mayor are determined based on longevity, experience, and election results. He underscored the value of experience, stating that leadership roles should not be treated as a trial by fire but as honors earned through service. Highlighting his qualifications, Council Member Tyson detailed his decade-long service in the Fire District, leadership roles in regional agencies, and contributions to initiatives like climate change, mental health, and infrastructure projects. He concluded by urging the City Council to consider the Vice Mayor position as a significant responsibility requiring experience and collaboration, rather than simply a title to be awarded.

Council Member Mok emphasized that there is no precedent for the current situation in Los Altos Hills, where three vacancies and three council members exist without an election. He reviewed past documents multiple times and consulted with Attorney Mattas, finding that while past council decisions considered experience for mayor and vice mayor appointments, they did not bind future councils to follow the same process. Mok highlighted that Rajiv has significant experience as a committee chair and has attended many council meetings, making him a capable candidate. He stressed that the council’s work is voluntary and should align with the city’s best interests. Ultimately, he concluded that the current council has the authority to make its own decisions without being obligated to past practices, though he found the situation unfortunate.

Council Member Bhateja expressed gratitude for the opportunity to serve and acknowledged the importance of tradition in the selection of the Vice Mayor. He noted that while there is a historical precedent for how the role is assigned, there is room for interpretation, and past practices do not strictly bind the Council. He quoted the past practice from the 2003 Council minutes that stated "the Councilmember serving on the Council the longest, without serving as the Vice Mayor, will become the Vice Mayor". He emphasized that his decision was based on process rather than personal ambition and acknowledged that breaking from tradition could impact future appointments. Council Member Bhateja cited examples from other cities where newly elected Council Members served as Vice Mayor and stated that he would accept the Council’s decision with humility and commitment.

Los Altos Hills Regular City Council Meeting Minutes Page 6 Thursday, December 19, 2024
Mayor Tankha shared her experience working with both Council Member Tyson and Council Member Bhateja, praising their dedication and contributions to the town. She acknowledged that both candidates are well-qualified for the role but ultimately emphasized adherence to tradition. Mayor Tankha referenced the Town’s Code, which states that the longest-serving Council Member without having previously served as Vice Mayor should be next in line for the position. Based on this guideline, she supported Council Member Bhateja’s appointment and stressed the importance of keeping the decision objective and process-driven.

City Council engaged in a thoughtful and comprehensive discussion regarding the selection of the Vice Mayor, carefully considering the qualities and experience required for the role. They also discussed the process and tradition surrounding the selection, weighing leadership skills, past contributions to the Town, and the ability to work collaboratively with fellow Council Members. Despite these deliberations, there was no clear consensus, and the Council took Public Comment on the matter.

Public Comments:

1. Jitze Couperus, a Los Altos Hills resident, referenced past council decisions and traditions regarding the selection process, dating back to 1974. To simplify the process, he used a metaphor comparing the Vice Mayor's selection to distributing meals at a restaurant, emphasizing fairness—ensuring that all eligible members have the opportunity to serve before anyone gets a second turn.

2. Jim Waschura, a Los Altos Hills resident, supported the round-robin process for selecting the vice mayor and mayor, praising Mayor Tankha’s extensive experience on the Council and in land use committees. He acknowledged Council Member Bhateja’s hard work but felt he lacked the necessary experience for the mayor’s role. Mr. Waschura suggested that Council Member Bhateja should wait another year to gain more experience and urged him to retract his nomination in favor of Council Member Tyson, who he believed was better prepared for the position.

3. Lew Jamison, a Los Altos Hills resident, expressed strong support for Council Member Bhateja as Vice Mayor, citing his leadership, vision, and commitment.

Mr. Jamison praised Council Member Bhateja for his work on the Community Relations Committee and his accomplishments as chair of the Technology Committee, highlighting his ability to get things done.

4. Roger Spreen, a Los Altos Hills resident, expressed disappointment and frustration with the Council’s decision, arguing that it undermined the Town’s tradition of stability and credibility. He emphasized that selecting an experienced and respected leader for Vice Mayor would be in the best interest of the Town. Referring to his own experience of waiting his turn to become Vice Mayor, he urged the Council to reconsider their choice, warning that

Los Altos Hills Regular City Council Meeting Minutes Page 7 Thursday, December 19, 2024
disregarding protocol could harm the Town’s trust and reputation.

5. Duffy Price, a Los Altos Hills resident, advocates for Council Member Bhateja to be appointed as Vice Mayor, emphasizing his experience as a committee chair and innovator. She highlights his contributions to improving safety in the Town, which she considers a key issue. While expressing respect for Council Member Tyson and acknowledging his long-standing service, Duffy argues that this transitional period is an opportunity for Council Member Bhateja to gain deeper insight into council operations and leadership. She urges the council to support Council Member Bhateja, citing his problem-solving abilities and prior committee work.

6. Jonathan Weinberg, a Los Altos City Council Member speaking in a personal capacity, congratulated Mayor Tankha and emphasized the strong relationship between Los Altos and Los Altos Hills. He stresses that both councils function as one community, built on trust and adherence to rules and procedures. While he acknowledges Council Member Bhateja’s potential as a great Council Member, he strongly advocates for Council Member Tyson as the next Vice Mayor, citing his experience, leadership, and dedication to Los Altos Hills. He warns that overlooking Council Member Tyson for reasons not in the Town’s best interest could create uncertainty and mistrust between the two communities.

7. John O’Connell, a Los Altos Hills resident, challenged some of the previous statements, arguing that having long-serving Council members can lead to stagnation while introducing new perspectives brings fresh ideas and energy. He mentions reviewing the selection process and not finding the same interpretation as Council Member Tyson. Based on face-to-face conversations with about 100 residents, he notes strong support for Council Member Bhateja, citing his public outreach, rational decision-making, and communication skills. While acknowledging that both Council Member Tyson and Council Member Bhateja are strong candidates, he disagrees with the idea that a newly elected member shouldn’t be appointed. He concludes by urging the Council to follow the established process to prevent situations like the current debate.

8. Courtenay Corrigan, a Los Altos Hills resident, expresses disappointment that this debate is happening during what should be a celebratory event, calling it unfortunate and uncomfortable. While she does not explicitly take sides, she praises her experience working with Council Member Tyson and expresses full support for him as vice mayor. However, she acknowledges that the decision seems to have already been made in favor of Vice Mayor Bhateja. She cautions the Council to consider the long-term consequences of their actions, warning that tonight’s decision could impact future leadership selections. She emphasizes that there is no automatic precedent for future Vice Mayor or Mayor appointments and suggests that the Council should be prepared for similar

Los Altos Hills Regular City Council Meeting Minutes Page 8 Thursday, December 19, 2024
challenges down the line.

9. Allan Epstein, a Los Altos Hills resident, acknowledges Council Member Tyson’s contributions and volunteer work, expressing appreciation for his efforts. However, he pushes back against the idea that this situation is an “upset,” instead framing it as the council simply following past practices. He commends the Council for staying on course despite the awkwardness of the discussion and expresses support for Council Member Bhateja as the next Vice Mayor.

10. John Swan, a Los Altos Hills resident, describes that the process for selecting the Vice Mayor, while ambiguously written, clearly states that those who haven’t previously held the position should be given priority. He expressed concern that the discussion is attempting to change this process. Drawing from professional experience, he asserts that promotions should go to those already performing the role and that Council Member Bhateja has effectively acted like a Council Member for over six years. He also highlights the importance of Council Member Bhateja’s involvement in future efforts to regain local land use control. Finally, Mr. Swan urged the Council to avoid turning the decision into a popularity contest and to make the choice internally.

Approved, Vote 5-0.

Vice Mayor Rajiv Bhateja delivered his speech, expressing heartfelt thanks to the community and his family for their unwavering support. He also extended his gratitude to outgoing Vice Mayor Lisa Schmidt for her leadership. Looking ahead, Vice Mayor Bhateja promised to serve with dedication, integrity, and humility, and shared that for the next four years, he would wake up each day asking, 'How can I serve my community best?'

3. Comments by the New Mayor and Vice Mayor.

Comments were made immediately following the selection of Mayor Tankha and Vice Mayor Bhateja.

Senator Josh Becker joined the meeting, expressing his eagerness to collaborate with the City Council in the future. He noted that the large turnout at the Council Meeting was a clear demonstration of the strong commitment and engagement the residents have in their community.

12. ADJOURN
The meeting was adjourned at 8:27 P.M.

Supervisor Simitian administered the Oath of Office to Vice Mayor Rajiv Bhateja.

Los Altos Hills Regular City Council Meeting Minutes Page 9 Thursday, December 19, 2024
Respectfully submitted,
Arika Birdsong-Miller

City Council Special Meeting Minutes
January 29, 2025
Town of Los Altos Hills
City Council Special Meeting Minutes
Wednesday, January 29, 2025, at 9:00 A.M.

Council Chambers, 26379 Fremont Road, Los Altos Hills, California

Present: Mayor Kavita Tankha, Vice Mayor Rajiv Bhateja, Council Member Stanley Mok, Council Member Linda Swan, Council Member George Tyson

Absent: None
Staff: City Manager Peter Pirnejad, Deputy City Manager Cody Einfalt, and City Clerk Arika Birdsong-Miller

1. CALL TO ORDER (9:00 A.M.)
Mayor Tankha called the meeting to order at 9 A.M.

2. ROLL CALL – All City Council Members were present.

3. PUBLIC COMMENT (Public Comment is Limited to Items which are the subject of the Special Meeting)

1. John O’Connell, a resident of Los Altos Hills, referenced an article from the Harvard Business Review that focused on governance concerns and emphasized the need for the board to prioritize the voices of the town’s residents. He drew parallels between corporate board failures and local government, arguing that disasters often result not from board negligence but from the undue influence of autocratic, manipulative CEOs. Mr.

O’Connell criticized the practice of overwhelming board members with excessive information shortly before meetings, a tactic that undermines good governance and can allow the CEO to control board decisions—even when such manipulation occurs outside of formal meetings. He underscored the board’s duty to listen to the community, noting that his outreach efforts have connected him with over 100 residents and that a petition grew from 517 to 764 signatures. Mr. O’Connell expressed concern that the upcoming priority session lacked sufficient public feedback and called on the board to assess whether they were truly leading or simply following the CEO’s agenda, urging systemic changes to ensure better representation of residents’ interests.

4. COUNCIL WORKSHOP- CONCEPTS FOR EFFECTIVE GOVERNMENT
The Effective Local Government Workshop included a discussion on the roles of Council Members and their working relationships. Staff provided a first-year update on the 2024-25 Work Plan, reviewing key accomplishments to date at a high level. Staff then presented recommendations for amendments, considering items within staff capacity, committeerequested items, and potential removals. Council Members had the chance to advocate for specific items, including those pre-populated in the recommendations or new items introduced during the meeting.

City Council Special Meeting Minutes
January 29, 2025

5. ADJOURN
The meeting adjourned.

Respectfully submitted,
Arika Birdsong-Miller

Los Altos Hills Regular City Council Meeting Recap Page 1 Wednesday, January 29, 2025
Town of Los Altos Hills
City Council Regular Meeting Minutes
Wednesday, January 29, 2025
Council Chambers, 26379 Fremont Road, Los Altos Hills, California

Present: Mayor Kavita Tankha, Vice Mayor Rajiv Bhateja, Council Member Stanley Mok, Council Member Linda Swan, Council Member George Tyson

Absent: None
Staff: City Manager Peter Pirnejad, City Attorney Steve Mattas, City Clerk Arika Birdsong-Miller, Deputy City Manager Cody Einfalt, Finance Director Thomas Leung, Community Development Director Jay Bradford, and Public Works Director WooJae Kim
CALL TO ORDER (1:00 P.M.)
Mayor Tankha called the meeting to order at 1:00 P.M.

1. ROLL CALL
Mayor Kavita Tankha, Vice Mayor Rajiv Bhateja, Council Member Stanley Mok, Council Member Linda Swan, and Council Member Tyson were present.

2. AGENDA REVIEW
The City Council Agenda was accepted as presented.

3. PRESENTATIONS FROM THE FLOOR

1. Nick Pliam, a resident of Los Altos Hills, requested the installation of speed bumps on Elena Road to encourage drivers to slow down.

2. Naboku Cleary, a resident of Los Altos Hills, expressed a desire to preserve the history of the property conservation easement. She noted that a neighbor has violated the historic preservation agreement by constructing a cabana.

3. John O’Connell, a resident of Los Altos Hills, stated that the Council allowed staff and the City Attorney to initiate an agreement without first discussing the matter with the public.

He asserted that this should never have been allowed to occur, as it constitutes a Brown Act violation.

4. Michael Grady, a resident of Los Altos Hills, urged Council to include the current Housing Element Amendment into the Workplan.

4. PRESENTATIONS AND APPOINTMENTS
A. Appointment to the Technology Committee- Vice Mayor Bhateja made a motion to appoint Sam Woods to the Technology Committee. Council Member Swan seconded the motion. Approved, Vote 5-0

Los Altos Hills Regular City Council Meeting Recap Page 2 Wednesday, January 29, 2025
B. Appointment to the Environmental Design and Protection Committee – Mayor Tankha made a motion to appoint Ivy Mei to the Environmental Design and Protection Committee.

Council Member Swan seconded the motion. Approved, Vote 5-0

5. CONSENT CALENDAR
Public Comment

1. Allan Epstein, a resident of Los Altos Hills, requested that the City Council take action to address and improve the permitting system.

Vice Mayor Bhateja made a motion to approve the Consent Calendar deferring Item 5A to the February 20, 2025 City Council Regular Meeting. Council Member Swan seconded the motion.

APPROVED, Vote 5-0
A. Approval of City Council Regular Meeting Minutes of December 19, 2024 DEFERRED TO FEBRUARY 20, 2025
B. Approval of City Council Special Meeting Minutes of January 7, 2025 APPROVED, Vote 5-0 C. Resolution Approving the Plans and Specifications for the 2025 Sanitary Sewer Repair and Replacement Project and Authorizing Staff to Advertise the Project for Bid APPROVED, Vote 5-0
D. Resolution Accepting the 2023 Sanitary Sewer Repair and Replacement Project APPROVED, Vote 5-0
E. Resolution Accepting Open Space Easement at 14096 Seven Acres Lane; Lands of SA 96 LLC APPROVED, Vote 5-0
F. Resolution Granting an Extension of the Expiration Dates for Building Permits for Various Residential Properties as listed in the Staff Report APPROVED, Vote 5-0 G. Amendment to the Resolution on Standing Committees: Termination of the Park and Recreation Committee and the Community Relations Committee, and the Creation of the Merged "Parks, Recreation, and Community Events Committee" APPROVED, Vote 5-0 H. Approval of City Council Special Meeting Minutes of January 11, 2025 APPROVED, Vote 5-0 I. Approval of City Council Special Meeting Minutes of January 15, 2025 APPROVED, Vote 5-0

6. ONGOING BUSINESS
A. Appointments to the Parks, Recreation, and Community Events Committee Vice Mayor Bhateja made a motion to appoint Jasmeen Pombra, Boxia Schmidt, Mukta Sharangpani, Yibin Tang, Kejun (Ben) Xu, Jennifer Kan Bardsley, Weiwen Li, April Anair, Lew Jamison, and Lana Einschlag to the Parks, Recreation, and

Los Altos Hills Regular City Council Meeting Recap Page 3 Wednesday, January 29, 2025
Community Events Committee. Council Member Swan seconded the motion.

APPROVED, Vote 5-0
B. Resolution Approving amendment #1 to the Upper Ravensbury Avenue Sanitary Sewer Reimbursement Agreement between the Town of Los Altos Hills and Dave Jensen Public Comments:

1. Brian McCauley, representing the applicant and brother of Don McCauley, explained that the reimbursement amount is capped by state law and expressed concern that the fees being imposed on his brother are excessive. Mr. McCauley requested that the reimbursement amount be set in accordance with the terms of the original agreement.

2. Allan Epstein, a resident of Los Altos Hills, voiced his concerns regarding the time limits for discussion, specifically expressing disagreement with the restriction to the applicant's Attorney.

3. Don McCauley, the applicant and a resident of Los Altos Hills, requested that the City Council set the reimbursement amount at $17,770, rather than applying the CCI increase.

Council Swan made a motion to Approve Amendment #1 to the Upper Ravensbury Avenue Sanitary Sewer Reimbursement Agreement between the Town of Los Altos Hills and Dave Jensen in the amount of $17,770. Council Member Mok seconded the motion.

APPROVED, Vote 5-0
C. Introduction of Ordinance (First Reading) Amendment Title 2, Chapter 6 of the Los Altos Hills Municipal Code Adding Conflict of Interest Designations Council Member Tyson made a motion to Waive Reading and Introduce the Ordinance Title 2, Chapter 6 of the Los Altos Hills Municipal Code Adding Conflict of Interest Designation. Council Member Swan seconded the motion. APPROVED, Vote 5-0

7. NEW BUSINESS
A. City Council Appointment to Standing Committees
Town Standing Committees 2025
Appointments
Public Art (2nd Mon/month - 5:00 PM) Mok
Community Relations (4th Tues/month - 7:00 PM) Merging to Parks, Recreation, and Community Events
N/A
Emergency Preparedness and Response (1st Tuesday/month 6:00 pm Bhateja Environmental Design & Protection (2nd Tues/month - 5:45 PM) Tankha Environmental Initiatives (2nd Thur/month - 6:30 PM) Tyson Finance/Investment (1st Mon/month - 4:00 PM) Tankha/Bhateja History (3rd Tues/month - 3:30 PM) Swan
LA/LAH Jt. Comm. Vol. Service Awards (As Needed) Mok
LA/LAH Senior Commission (1st Mon/month - 3:30 PM) Tyson LA/LAH Library Commission Swan
Open Space (2nd Wednesday/month - 9:30 AM) Mok

Los Altos Hills Regular City Council Meeting Recap Page 4 Wednesday, January 29, 2025
Parks & Recreation (3rd Mon/month - 5:30 PM) Merging to Parks, Recreation, and Community Events
4th Monday at 6pm
Mok
Pathways (4th Mon/month - 7:00 PM) Swan
Technology Committee (Time/Date TBD) Bhateja
LAH Emergency Council (Ordinance 550 states: (3) The Mayor, or as an alternate, the Vice Mayor Tankha/Bhateja Outside Agencies 2025
Appointments
Association of Bay Area Governments (ABAG) (3rd Thur/month every other month) Mok North County Library Authority (no fixed schedule 4X/year) Mok Joint Powers Authority Board (Library) Mok
Valley Transportation Authority (VTA) Board (Group 2) (1st Thur/month 5:30 PM) Tyson VTA Policy Advisory Group (2nd Thur/month 4:00 PM) (Alternate is okay) Tyson/Swan SCVWD Water Commission (4th Wed/month every quarter 12:00 PM) Bhateja Santa Clara County Cities Assn. Board (2nd Thur/month 7:00 PM, no meeting in July) Tankha Los Altos Hills County Fire District (3rd Tues/month 7:00 PM) Tankha/Tyson CHAC JPA (4thWed/month 4:30 PM-no meeting July & Dec) Tyson Silicon Valley Clean Energy Authority (2nd Wed/month 6:00 PM) Tyson/Swan Council Member Swan made a motion to Approve the City Council Appointments to Standing Committees. Vice Mayor Bhateja seconded the motion. Approved, Vote 5-0 B. Resolution Granting Request for Extension of the Expiration date for Building Permit at 27800 Via Feliz and Applies Time Limitation Penalties.

Public Comment:

1. Allan Epstein, a resident of Los Altos Hills, explained that prolonged development projects create significant inconvenience for neighboring residents, which is why time limits were established.

Council Member Swan made a motion to Approve the Resolution as presented, Granting a Request for an Extension of the Expiration Permit at 27800 Via Feliz and Applies Time Limitation Penalties. Council Member Mok seconded the motion. Approved, Vote 5-0.

8. STUDY SESSION
A. Council Priority Setting
Peter Pirnejad, City Manager, explained that in order to achieve the priorities of the Council in an orderly and effective manner the Town goes through a comprehensive goal-setting process followed by a budgeting exercise. For many years the Council has undertook a goalsetting process in January with feedback coming from the Council, Committees, and staff. This is a comprehensive and collaborative process that involves multiple stakeholders and ultimately the formation of a draft work-plan that reflects the priorities of the Council for the Town. Last year the Town adopted a two-year work plan (January 2024 – December 2025), and this year in January the Council will be working through a similar process to update the two-year workplan.

Projects That Are Proposed To Add To Workplan (within capacity)

Los Altos Hills Regular City Council Meeting Recap Page 5 Wednesday, January 29, 2025
• City Wide Survey – (Replacing the Community Development survey) – Staff will conduct a series of short Town-wide surveys that will cover a variety of topics of Town Hall operations. This project was initially suggested by the Council and adapted to make the scope wider reaching.
• Town Website Redesign – Every two-year the Town is eligible for a free redesign of the Town’s website through the website hosting company CivicPlus. Now that Town Hall has the capacity, staff is suggesting redesigning the website for the first time in 6 years. • Expired Permit Management – Many permits within the Community Development Department need to go through a process of administering extensions. Staff is recommending this item be added to the workplan.
• Code Enforcement Program Evaluation – There has been a noticeable increase in the number of code enforcement violations taking place in the Town which has caused a backlog in processing the events. Staff is recommending adding this item to the workplan. • Truck Replacement – This item initially was on the workplan but has been postponed midyear 2024 due to other priorities needing staff attention. Recently two of the Town’s vehicles need immediate replacement. Staff is recommending reprioritizing this project to a higher level.
• Fire Hazard Severity Zones Update – The State Fire Marshal is mandated to classify lands within State Responsibility Areas into Fire Hazard Severity Zones (FHSZ), which are categorized as Moderate, High, or Very High fire risk areas. There is a state mandated update for all cities driven by the need to reassess fire risk using modern data and methodologies to improve community safety and wildfire preparedness. Staff is recommending adding this item to the workplan.

The items above represent the projects that staff feel are important enough to be considered by the City Council and can be accommodated by staff. However, there were several other projects that have come up that staff could not accommodate without reprioritization or additional staffing/consulting. Council can discuss these projects, and if any are pressing to be completed, additional resources or reprioritization will be needed to get them on the 2024-25 workplan.

Projects That Will Need Council Direction To Add (not within capacity or budget, and will require additional resource or reprioritization)
• SVCE 2025 Priorities - Silicon Valley Clean Energy (SVCE) has set priorities for 2025 focusing on building decarbonization and reducing greenhouse gas emissions in local communities. These goals align with state climate action mandates and are being implemented in partnership with municipalities and environmental committees. • Westwind Barn Master Plan – There are several large maintenance items that need attention in the upcoming years at the Barn, both inside the barn and outside in the arenas.

To get a better understanding of priorities at this location, staff recommends conducting a masterplan of the Barn.

Los Altos Hills Regular City Council Meeting Recap Page 6 Wednesday, January 29, 2025
B. Recommendation and Motion to Approve the Amended 2024-25 Work Plan Public Comments:

1. Amita Sachdeva, a resident of Los Altos Hills and EPRC Chair, expressed her disappointment with the proposed Workplan deprioritize Emergency Mass Notification System. Ms. Sachdeva asked for Council to reconsider the Emergence Mass Notification System.

2. Duffy Price, a resident of Los Altos Hills and History Committee Member, requested to increase the Our Town Newsletter from two editions per year to four. With this request Mrs. Price offered to incorporate the Town’s Quarterly Newsletter into the Our Town Newsletter.

3. Carol Gottlieb, a resident of Los Altos Hills and Chair of History Committee, asked the Council to consider repairing the gates at Viscaino and Conception, as they are in poor condition. Once the gates are restored, Mrs. Gottlieb requested that a plaque be installed.

4. John O’Connell, a resident of Los Altos Hills, expressed his satisfaction that the Housing Element Amendment is included in the Work Plan. He suggested that the Housing Element be assigned to the Planning Commission. Mr. O’Connell suggested that the Council leverage the expertise of Town residents to help complete certain projects, as many are highly capable of assisting.

5. Allan Epstein, a resident of Los Altos Hills, supports the comments made by previous speakers and emphasizes that the Town has the capacity to complete important projects if resources are managed effectively. He highlights the need for better collaboration with the fire district, given its substantial funding and staffing, particularly regarding emergency communication and preparedness. He also suggests improving transparency in tracking complete and pending projects. Additionally, Mr. Epstein advocates for addressing the Town’s sewer system issues, criticizing the lack of attention to the matter despite residents paying unfair markups. He offers his expertise to assist in negotiations and urges the Town to prioritize cost-saving opportunities for residents.

6. Kjell Karlsson, a resident of Los Altos Hills, emphasizes the significant budget disparity between the fire district and the Town, highlighting that the fire district receives a larger share of property taxes. Mr. Karlsson also raises concerns about county constraints on the fire district, suggesting that the Town should push for more local control rather than being governed by county rules. He argues that recent events in Los Angeles will likely make fire insurance more difficult to obtain, creating financial risks for residents. Given this urgency, he urges Town officials to prioritize discussions with county supervisors about gaining more control over the fire district to better serve local needs Vice Mayor Bhateja made a motion to Approve the Amended 2024-25 Work Plan adding the following items:

Los Altos Hills Regular City Council Meeting Recap Page 7 Wednesday, January 29, 2025

1. Increasing the number of Our Town Newsletter to four (4) issues per year

2. Hosting a Joint City Council and Fire District Meeting

3. Ad Hoc/Subcommittee for the Housing Element with Vice Mayor Bhateja and Council Member Mok as the City Council liaison.

4. Ad Hoc/Subcommittee for the Emergency Preparedness and Response Committee with Mayor Tankha as the City Council liaison.

5. Ad Hoc/Subcommittee for the Sewer Project with Mayor Tankha as the City Council liaison.

Council Member Swan seconded the motion. APPROVED, Vote 5-0.

9. ADJOURN
The meeting was adjourned at 4:55 P.M.

PLACE HOLDER for ITEM 5C: APPROVAL OF THE JANUARY 30, 2025 REGULAR AND SPECIAL

MEETING MINUTES
The Draft Minutes were not finalized in time for this meeting and will be presented for consideration at the March 20th City Council Meeting.

ITEM 5D
DATE: February 20, 2025
TO: Honorable Mayor and Members of the Council
FROM: Arika Miller, City Clerk ABM
APPROVED: Peter Pirnejad, City Manager PP
SUBJECT: Vacating Appointment for the Los Altos Hills Pathway Committee Helga Carson, who has been serving on the Pathway Committee since November 2024, informed the Town that she must resign from her duties and has submitted her resignation. This will leave an additional vacancy on the Los Altos Hills Pathway Committee.  Helga Carson
Once this position is vacated, the Pathway Committee will have three (3) vacant seats

TOWN OF LOS ALTOS HILLS

MEMORANDUM

1 Arika Miller
From: Helga Carson
Sent: Wednesday, January 29, 2025 2:13 PM
To: Partridge, Richard; Arika Miller; Nick Erndt
Subject: Re: Work plan documents
Hello Richard and Arika,
I have decided to step away from the pathways committee. Let me know if there is anyone else I need to notify.

Nick will continue to be a part of the committee.

Regards,
Helga
On Tue, Dec 17, 2024, 10:50 AM Partridge, Richard > wrote:

Attached are the work plan documents that were discussed at last night’s pathways meeting (a presentation put together in January 2024 by Joe Mitchell with pathways goals for 2024-2025 and the adopted work plan).

Richard

ITEM 5E
TOWN OF LOS ALTOS HILLS February 20, 2025
Staff Report to the City Council
SUBJECT: RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF THE

VISCAINO ROAD SANITARY SEWER REIMBURSEMENT AGREEMENT

BETWEEN THE TOWN OF LOS ALTOS HILLS AND AJAY SHAH AND LESLIE HARRIS
FROM: WooJae Kim, Public Works Director
Daniel Liang, Utility Engineering Manager
APPROVED: Peter Pirnejad, City Manager
RECOMMENDATION: That the City Council:

Adopt a resolution (Attachment 1) approving and authorizing execution of the Viscaino Road Sanitary Sewer Reimbursement Agreement (Agreement) between the Town of Los Altos Hills (Town) and Ajay Shah and Leslie Harris.

BACKGROUND:

On April 20, 2023, the City Council approved Resolution 37-23 (Attachment 2) approving the Viscaino Road Sanitary Sewer Main Extension Project and the Sewer Construction and Dedication Agreement with the property owner at 12864 Viscaino Road. In October 2024, construction of the Viscaino Road Sanitary Sewer Main Extension Project between Canario Way and La Cresta Drive (approximately 770 linear feet) was completed by property owners at 12864 Viscaino Road and 12698 La Cresta Drive (Property Owners). In January 2025, the Property Owners submitted the necessary documents required to establish a reimbursement agreement.

DISCUSSION:

The attached Viscaino Road Sanitary Sewer Reimbursement Agreement (Attachment 3) is an agreement between the Town and Ajay Shah and Leslie Harris, who are the Property Owners that installed the sewer main extension. The Agreement was prepared based on the Town’s Policy, Procedures and Guidelines for Sanitary Sewer Reimbursement Agreements, originally adopted by the City Council on June 7, 2001.

The term of the Agreement is twenty-five (25) years from the date approved by the City Council. The reimbursement agreement consists of two installers and three future users as provided in Exhibit B of the Agreement. The future users are those properties with frontage along the gravity sanitary sewer main and connect directly via a single lateral to the sewer main.

The usage fee for each future user is based on the pro-rata share of initial costs incurred by the installers plus the annual Construction Cost Index (CCI) adjustment, and a five percent (5%) Administrative Fee as set forth in the Future Users table of Exhibit B.

Staff recommend approval of the Viscaino Road Sanitary Sewer Reimbursement Agreement between the Town and Ajay Shah and Leslie Harris.