(2) Unless an exception in paragraph (c) of this clause applies, the contractor and its subcontractors may not use grant, cooperative agreement, loan, or loan guarantee funds from the Federal Emergency Management Agency to:
(i) Procure or obtain any equipment, system, or service that uses covered telecommunications equipment or services as a substantial or essential component of any system, or as critical technology of any system;
(ii) Enter into, extend, or renew a contract to procure or obtain any equipment, system, or service that uses covered telecommunications equipment or services as a substantial or essential component of any system, or as critical technology of any system; (iii) Enter into, extend, or renew contracts with entities that use covered telecommunications equipment or services as a substantial or essential component of any system, or as critical technology as part of any system; or
(iv) Provide, as part of its performance of this contract, subcontract, or other contractual instrument, any equipment, system, or service that uses covered telecommunications equipment or services as a substantial or essential component of any system, or as critical technology as part of any system.
(c) Exceptions.
(1) This clause does not prohibit contractors from providing— a. A service that connects to the facilities of a third-party, such as backhaul, roaming, or interconnection arrangements; or
b. Telecommunications equipment that cannot route or redirect user data traffic or permit visibility into any user data or packets that such equipment transmits or otherwise handles. (2) By necessary implication and regulation, the prohibitions also do not apply to:
a. Covered telecommunications equipment or services that:
i. Are not used as a substantial or essential component of any system; and ii. Are not used as critical technology of any system.
b. Other telecommunications equipment or services that are not considered covered telecommunications equipment or services.
(d) Reporting requirement.
26 Agreement for Professional Services
DCMC, LLC
(1) In the event the Consultant identifies covered telecommunications equipment or services used as a substantial or essential component of any system, or as critical technology as part of any system, during contract performance, or the contractor is notified of such by a subcontractor at any tier or by any other source, the Consultant shall report the information in paragraph (d)(2) of this clause to the recipient or subrecipient, unless elsewhere in this contract are established procedures for reporting the information.
(2) The Consultant shall report the following information pursuant to paragraph (d)(1) of this clause:
(i) Within one business day from the date of such identification or notification: The contract number; the order number(s), if applicable; supplier name; supplier unique entity identifier (if known); supplier Commercial and Government Entity (CAGE) code (if known); brand; model number (original equipment manufacturer number, manufacturer part number, or wholesaler number); item description; and any readily available information about mitigation actions undertaken or recommended.
(ii) Within 10 business days of submitting the information in paragraph (d)(2)(i) of this clause: Any further available information about mitigation actions undertaken or recommended. In addition, the Subcontractor shall describe the efforts it undertook to prevent use or submission of covered telecommunications equipment or services, and any additional efforts that will be incorporated to prevent future use or submission of covered telecommunications equipment or services.
(e) Subcontracts. The Consultant shall insert the substance of this clause, including this paragraph (e), in all subcontracts and other contractual instruments.
9. DOMESTIC PREFERENCE FOR PROCUREMENTS.
As appropriate, and to the extent consistent with law, Consultant should, to the greatest extent practicable, provide a preference for the purchase, acquisition, or use of goods, products, or materials produced in the United States. This includes, but is not limited to iron, aluminum, steel, cement, and other manufactured products.
For purposes of this clause:
Produced in the United States means, for iron and steel products, that all manufacturing processes, from the initial melting stage through the application of coatings, occurred in the United States.
Manufactured products mean items and construction materials composed in whole or in part of nonferrous metals such as aluminum; plastics and polymer-based products such as polyvinyl chloride pipe; aggregates such as concrete; glass, including optical fiber; and lumber. 27 Agreement for Professional Services
DCMC, LLC
10. ACCESS TO RECORDS AND REPORTS.
(1) The Consultant agrees to provide the Client, the State Emergency Management Agency (or Recipient), the FEMA Administrator, the Comptroller General of the United States, or any of their authorized representatives access to any books, documents, papers, and records of the Consultant which are directly pertinent to this contract for the purposes of making audits, examinations, excerpts, and transcriptions. (2) The Consultant agrees to permit any of the foregoing parties to reproduce by any means whatsoever or to copy excerpts and transcriptions as reasonably needed. (3) The Consultant agrees to provide the FEMA Administrator or his authorized representatives access to construction or other work sites pertaining to the work being completed under the contract. (4) In compliance with section 1225 of the Disaster Recovery Reform Act of 2018, the Client and Consultant acknowledge and agree that no language in this contract is intended to prohibit audits or internal reviews by the FEMA Administrator or the Comptroller General of the United States. (5) California Public Records Act. Consultant understands and agrees that all information and documents related to the award and performance of this agreement may be subject to disclosure pursuant to the California Public Records Act, California Government Code Section 6250 et seq.
11. DEPARTMENT OF HOMELAND SECURITY SEAL, LOGO, AND FLAGS.
The Consultant shall not use the DHS seal(s), logos, crests, or reproductions of flags or likenesses of DHS agency officials without specific FEMA pre-approval. The Consultant shall include this provision in any subcontracts.
12. COMPLIANCE WITH FEDERAL LAW, REGULATIONS, AND EXECUTIVE ORDERS.
The Consultant acknowledges that FEMA financial assistance will be used to fund all or a portion of the contract. The Consultant will comply with all applicable federal law, regulations, executive orders, FEMA policies, procedures, and directives.
13. NO GOVERNMENT OBLIGATION BY FEDERAL GOVERNMENT.
The Client and Consultant acknowledge and agree that the federal government is not a party to this contract and is not subject to any obligations or liabilities to the Client, Consultant, or any other party pertaining to any matter resulting from the contract.
14. PROGRAM FRAUD AND FALSE OR FRAUDULENT STATEMENTS AND RELATED ACTS.
The Consultant acknowledges that 31 U.S.C. Chap. 38 (Administrative Remedies for False Claims and Statements) applies to the contractor’s actions pertaining to this contract. 28 Agreement for Professional Services
DCMC, LLC
15. AFFIRMATIVE SOCIOECONOMIC STEPS
If subcontracts are to be let, the Consultant is required to take all necessary steps identified in 2 C.F.R. § 200.321(b)(1)-(5) to ensure that small and minority businesses, women’s business enterprises, and labor surplus area firms are used when possible.
16. SECTION 3 CLAUSE
24 CFR 135 requires that for any HUD-funded contract with a value in excess of $100,000, contractors and subcontractors must comply with the Section 3 Act of 1968. The purpose of Section 3 is to ensure that employment and other economic opportunities generated by certain HUD financial assistance shall, to the greatest extent feasible, and consistent with existing Federal, State and local laws and regulations, be directed to low- and very low-income persons, particularly those who are recipients of government assistance for housing, and to business concerns which provide economic opportunities to low- and very low-income persons. Section 3 is triggered when the normal completion of construction and rehabilitation projects creates the need for new employment, contracting, or training opportunities.
All section 3 covered contracts shall include the following clause (referred to as the Section 3 clause, 24 CFR 135.38):
A. The work to be performed under this contract is subject to the requirements of section 3 of the Housing and Urban Development Act of 1968, as amended, 12 U.S.C. 1701u (section 3). The purpose of section 3 is to ensure that employment and other economic opportunities generated by HUD assistance or HUD-assisted projects covered by section 3, shall, to the greatest extent feasible, be directed to low- and very low-income persons, particularly persons who are recipients of HUD assistance for housing.
B. The parties to this contract agree to comply with HUD's regulations in 24 CFR part 135, which implement section 3. As evidenced by their execution of this contract, the parties to this contract certify that they are under no contractual or other impediment that would prevent them from complying with the part 135 regulations.
C. The contractor agrees to send to each labor organization or representative of workers with which the contractor has a collective bargaining agreement or other understanding, if any, a notice advising the labor organization or workers' representative of the contractor's commitments under this section 3 clause and will post copies of the notice in conspicuous places at the work site where both employees and applicants for training and employment positions can see the notice. The notice shall describe the section 3 preference, shall set forth minimum number and job titles subject to hire, availability of apprenticeship and training positions, the qualifications for each; and the name and location of the person(s) taking applications for each of the positions; and the anticipated date the work shall begin.
D. The contractor agrees to include this section 3 clause in every subcontract subject to compliance with regulations in 24 CFR part 135, and agrees to take appropriate action, as provided in an applicable provision of the subcontract or in this section 3 clause, upon a finding that the subcontractor is in violation of the regulations in 24 CFR part 135. The contractor will not subcontract with any subcontractor where the contractor has notice or knowledge that the subcontractor has been found in violation of the regulations in 24 CFR part 135. 29 Agreement for Professional Services
DCMC, LLC
E. The contractor will certify that any vacant employment positions, including training positions, that are filled (1) after the contractor is selected but before the contract is executed, and (2) with persons other than those to whom the regulations of 24 CFR part 135 require employment opportunities to be directed, were not filled to circumvent the contractor’s obligations under 24 CFR part 135.
F. Noncompliance with HUD's regulations in 24 CFR part 135 may result in sanctions, termination of this contract for default, and debarment or suspension from future HUD assisted contracts.
G. With respect to work performed in connection with section 3 covered Indian housing assistance, section 7(b) of the Indian Self-Determination and Education Assistance Act (25 U.S.C. 450e) also applies to the work to be performed under this contract. Section 7(b) requires that to the greatest extent feasible (i) preference and opportunities for training and employment shall be given to Indians, and (ii) preference in the award of contracts and sub-contracts shall be given to Indian organizations and Indian-owned Economic Enterprises. Parties to this contract that are subject to the provisions of section 3 and section 7(b) agree to comply with section 3 to the maximum extent feasible, but not in derogation of compliance with section 7(b). 30 City of Malibu
Memorandum
Agenda Item # 1.B.7.
To: Mayor Riggins and the Honorable Members of the City Council From: Ruth F. Quinto, CPA, City Treasurer
Subject: Investment Report for the Month Ending November 30, 2025 RECOMMENDED ACTION: Receive the Investment Report for the month ending November 30, 2025.
The portfolio is in compliance with the City’s Investment Policy. The City has sufficient liquidity to meet expenditure requirements for at least six months. This monthly Investment Report is in conformance with Government Code 53636, stating the Treasurer may render a quarterly report to the legislative body within 45 days following the end of the quarter covered by the report.
The City’s portfolio is invested in the following categories:
Cash and Cash Equivalents 10.95%
U.S. Treasury 81.55%
U.S. Agencies 0.00%
Certificates of Deposit 7.51%
Investments month to month:
Investment
Issuer/Instrument Type
October 31, 2025 November 30, 2025
Amount
(in millions) Yield(A) %
Amount
(in millions) Yield(A) %
Operating Cash Cash $6.55 3.40% 7.61% $6.16 3.40% 7.79% LAIF Cash $7.48 4.13% 8.68% $2.48 4.08% 3.14%
CDs Investment $5.94 4.06% 6.90% $5.93 4.06% 7.51%
Treasury Bills Investment $0.00 0.00% 0.00% $0.00 0.00% 0.00% Treasury Notes Investment $54.53 3.85% 63.32% $54.72 3.85% 69.28% Treasury STRIPS Investment $9.66 4.02% 11.22% $9.69 4.02% 12.27% Money Market Cash $1.96 3.70% 2.28% $0.01 3.54% 0.02%
Total/Blended Yield 3.87% 3.86%
Total Duration(Years) 1.94 2.04
(A)Yield is based on Purchase Yield for Treasury Bills
2-Year U.S. Treasury Note Benchmark, as of November 30, 2025: 3.47%.
The fair market value of all investments held by the City is $78,995,285 as of November 30, 2025.
ATTACHMENTS:
1. City of Malibu Investment Statement
2. City of Malibu Portfolio Analysis Statement
City Council Meeting
01-26-26
Item
1.B.7.
1 SNAPSHOT
Current period ending November 30, 2025
ACCOUNT NAME: CITY OF MALIBU
RUTH QUINTO
ACCOUNT NUMBER:
Your Financial Advisor:
WILLIAM GOMBERG 701 S PARKER STREET
Phone: 714-497-1366 SUITE 2500
ORANGE, CA 92868
If you have more than one account with us, why not link them and receive summary information for your entire household? Contact Your Financial Advisor for more details.
CITY OF MALIBU Message from Our Firm
RUTH QUINTO WELLS FARGO INVESTMENT INSTITUTE'S CHART OF THE WEEK OFFERS TIMELY INSIGHTS 23825 STUART RANCH ROAD INTO KEY MARKET TRENDS AND THEMES. PUBLISHED TUESDAYS, IT OFFERS A QUICK, VISUAL MARKET SNAPSHOT. VISIT WELLSFARGOADVISORS.COM/CHART TO VIEW THE MALIBU CA 90265-4861 LATEST.
News
SHOULD YOU NEED ADDITIONAL DETAILS ABOUT A SPECIFIC TRANSACTION REFLECTED ON
YOUR STATEMENT, THE INFORMATION IS AVAILABLE ONLINE OR BY CONTACTING THE CLIENT SERVICE NUMBER ON YOUR STATEMENT.
Investment and Insurance Products are: Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), a registered broker-dealer and non-bank affiliate of Wells Fargo • Not Insured by the FDIC or Any Federal Government Agency & Company. WFAFN uses the trade name Wells Fargo Advisors. Any other referenced • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank entity is a separate entity from WFAFN. Account(s) carried by Wells Fargo Clearing Affiliate Services, LLC, Member SIPC.
• Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
SNAPSHOT
RSNIP-03012025-5924926.1.1 072 ANCA ANC9
2 Attachment 1
General About your rights and responsibilities instructions and disclosures Questions and complaints about Your Account: This account statement contains important information About this statement about your brokerage account, including recent transactions. All account statements sent to you shall be deemed Clearing services: Wells Fargo Clearing Services, LLC (WFCS), an indirect wholly owned subsidiary of Wells complete and accurate if not objected to in writing within ten days of receipt. We encourage you to review the details Fargo & Company, is a clearing broker-dealer registered with the Securities and Exchange Commission (SEC) and in this statement. If you do not understand any of the information in your statement or if you believe there are any the Municipal Securities Rulemaking Board (MSRB) and is a member of the New York Stock Exchange (NYSE), the inaccuracies or discrepancies in your statement, you should promptly report them to both WFCS and to the manager Financial Industry Regulatory Authority (FINRA) and all principal U.S. exchanges. WFCS carries your account(s) and of the Wells Fargo Advisors Financial Network office listed on the front of your statement. To further protect your acts as your custodian for funds and securities deposited with us directly by you, through our affiliated broker-dealer, rights, including any rights under the Securities Investor Protection Act, any verbal communications with either your Wells Fargo Advisors Financial Network, LLC (Wells Fargo Advisors) or as a result of transactions WFCS processes Wells Fargo Advisors Financial Network office or with WFCS should be re-confirmed in writing. Inquiries or for your account. Twice a year, WFCS publishes on its web site www.wfclearing.com a statement of the firm's complaints about your account statement, including the positions and balances in your account, may be directed to financial condition. A financial statement of this organization is available for your personal inspection at its offices, or Wells Fargo Advisors Client Services at (866) 258-4606 or ATTN: H0005-087, 1 N. Jefferson Ave, St. Louis, MO a copy of it will be mailed upon your written request. Unless and until we receive written notice from you to the 63103. contrary, WFCS may, without inquiry or investigation, accept from Wells Fargo Advisors (i) orders for the purchase or Public disclosure: You may reach FINRA by calling the FINRA BrokerCheck Hotline at (800) 289-9999 or by visiting sale of securities for your account on margin or otherwise, and (ii) any other instructions concerning your account. the FINRA website at www.finra.org. An investor brochure that includes information describing FINRA BrokerCheck Trade date statement and trade details: All activity and positions on this statement are shown as of the date a is available from FINRA upon request. A brochure describing the FINRA Pricing of Securities Regulation Public trade is entered on the brokerage trading system (i.e., the trade date). Proceeds from the sale of securities and costs Disclosure Program is also available from the FINRA upon request. for the purchase of securities are not transacted through your account until the actual settlement date of the trade. MSRB disclosure: A brochure describing the protections available under MSRB rules and how to file a complaint is The time of the transactions, the name of the buyer or seller, and the source and amount of any commission or fee available at www.MSRB.org. will be furnished upon written request.
Account protection: WFCS is a member of the Securities Investor Protection Corporation (SIPC) which protects Pricing of securities: Securities prices on your statement may vary from actual liquidation value. Prices are against the loss of cash and securities held in client accounts of a SIPC member firm in the event of the member's provided by outside quotation services which we believe are reliable but due to the nature of market data the accuracy insolvency and liquidation. SIPC coverage is limited to $500,000 per customer, including up to $250,000 for cash. For cannot be guaranteed. In the absence of such pricing, prices are estimated by WFCS using available information and more information on SIPC coverage, please see the explanatory brochure at www.sipc.org or contact SIPC at (202) its judgment. Such estimates may not reflect actual trades and do not reflect a commitment by the firm to buy or sell 371-8300. In addition, WFCS maintains additional insurance coverage provided through London Underwriters (led by at those prices. Securities listed on a national exchange are priced as of the close of the statement period. Unlisted Lloyd's of London Syndicates). This additional insurance policy becomes available to clients if their SIPC limit is shares may be valued at the current best published "bid-price", and, if none exists, the last reported transaction if exhausted and provides additional protection up to a firm aggregate of $1 billion, including up to $1.9 million for cash occurring within the last 45 days. Prices of securities not actively traded may not be available and are indicated by per client. SIPC does not insure the quality of investments or protect against market losses. SIPC only protects the "N/A." Corporate and municipal bonds and other fixed income securities are priced by a computerized pricing service custody function of their members, which means that SIPC works to restore to clients their securities and cash that or, if less actively traded, by utilizing a yield-based matrix system to arrive at an estimated market value. Listed are in their accounts when the member firm liquidation begins. Not all investments are protected by SIPC. In general, options are priced based on the closing "bid-ask" prices and the last reported trade. Mutual fund shares are priced at SIPC does not cover instruments such as unregistered investment contracts, unregistered limited partnerships, fixed net asset value. Shares of direct participation program (DPP) and real estate investment trust (REIT) securities that annuity contracts, escrow receipts, direct investments, currency, commodities or related contracts, hedge funds and are not listed on a national exchange are generally illiquid. Because no trading market exists for these investments, certain other investments. their values are estimated. Unless otherwise indicated, the values shown for DPP and REIT securities have been provided by the management of each program and represent that management's estimate of the investor's interest in Free credit balances: Free credit balances are not segregated and may be used by WFCS in the operation of its the net assets of the program. See statement sections for additional pricing information. Values for hedge funds and business in accordance with applicable laws and regulations. You have the right to receive from us in the course of certain managed futures funds are provided on a month delay basis. Other managed futures funds may be priced normal business operations, subject to any open commitments in any of your accounts, any free credit balances to more frequently. Long-term certificates of deposit (maturity beyond one year from date of issue) are priced using a which you are entitled. market value pricing model. The sale or redemption price of your securities may be higher or lower than the prices Investment objectives/Risk tolerances: Please inform us promptly of any material change that might affect shown on your statement. For an actual quote, contact the individual servicing your account. your investment objectives, risk tolerances or financial situation, or if you wish to impose or change any reasonable Estimated annual income/yield: Estimated Annual Income (EAI), when available, reflects the estimated amount restrictions on the management of your account. A copy of the Investment Advisory Services Disclosure document is you would earn on a security if your current position and its related income remained constant for a year. Estimated available without charge upon request. Please contact the individual denoted on the front of your statement to update Annual Yield (EAY), when available, reflects the current estimated annual income divided by the current value of the your information and to receive a copy of this document. security as of the statement closing date. EAI and EAY are estimates and the actual income and yield might be lower Option accounts: Pursuant to FINRA Rule 2360, option assignment notices are randomly allocated by an or higher than the estimated amounts. EAY reflects only the income generated by an investment. It does not reflect automated process amongst all client short option positions that are subject to exercise, including positions changes in its price, which may fluctuate. The information used to derive these estimates is obtained from various established on the day of assignment. Transaction confirmations that were previously furnished to you provides outside vendors; WFCS and Wells Fargo Advisors Financial Network, LLC are not responsible for incorrect or information on commissions and other charges related to your option transaction executions. Details of our random missing estimated annual income and yields. Past performance is not a guarantee of future results. allocation procedures and copies of transaction confirmations are available upon request.
Income summary: The Income summary displays all income as recorded in the tax system as of period end date.
The totals in the Cash flow snapshot may not match the totals in the Income snapshot due to reclassifications or other corrections made in the tax system. Remember, you may have certain products that are not included in these figures and whose income is only available on the tax forms sent to you at year-end. Reclassifications and other tax reporting requirements may alter these numbers both during and after year end. You should rely only on tax reporting documents. Contact your tax advisor if you have any questions about the tax consequences of your brokerage activity.
Texas designation: If you are a resident of Texas who has purchased mutual fund shares, you may designate a representative to receive notification to assist in avoiding escheatment of assets in your investment account to the State of Texas. The designated representative does not have any rights to your account. Please use the Texas Unclaimed Property link (https://claimittexas.org/) to access the Designation of Representative for Notice Request form which you may complete and return to us at ATTN: H0006-08K, 1 N. Jefferson Ave, St. Louis, MO 63103 or return by email at [email protected].
Tax reporting: We are required by federal law to report annually to you and to the Internal Revenue Service (IRS) on Form(s) 1099 interest income, dividend payments and sales proceeds including cost basis information for applicable transactions credited to your account.
3 4
SNAPSHOT Page 2 of 19
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Cash flow summary THIS PERIOD THIS YEAR
Opening value of cash and sweep balances $1,960,341.35
Income and distributions 18,782.87 2,014,825.86
Securities sold and redeemed 464.50 49,916,715.77
Net additions to cash $19,247.37 $51,931,541.63
Securities purchased -108,331.00 -33,229,284.76
Electronic funds transfers -1,858,000.00 -18,689,000.00 Net subtractions from cash -$1,966,331.00 -$51,918,284.76 Closing value of cash and sweep balances $13,257.72
Income summary * THIS PERIOD THIS YEAR
TAXABLE Money market/sweep funds 495.81 15,292.31
Interest 13,006.09 1,908,300.57
Ordinary dividends and ST capital gains 5,280.97 86,218.59 Total taxable income $18,782.87 $2,009,811.47
Total federally tax-exempt income $0.00 $0.00
Total income $18,782.87 $2,009,811.47
* Certain distributions made in the current year are reported as prior year income according to IRS regulations. This may cause a difference between Cash Flow and Income Summary totals.
Gain/loss summary UNREALIZED THIS PERIOD REALIZED THIS YEAR REALIZED Short term (S) 364,224.72 0.00 0.00
Long term (L) 1,235,625.35 0.00 2,325.29
Total $1,599,850.07 $0.00 $2,325.29
SNAPSHOT
072 ANCA ANC9
5 SNAPSHOT Page 3 of 19
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Your Financial Advisor Client service information
WILLIAM GOMBERG 701 S PARKER STREET Client service: 800-266-6263 Phone: 714-497-1366 SUITE 2500 Website: www.wellsfargoadvisors.com ORANGE, CA 92868
Account profile
Full account name: CITY OF MALIBU
RUTH QUINTO
Account type: Brokerage Cash Services For your consideration Brokerage account number: 5419-7847 Go paperless. Accessing your account documents online is easy, secure, and Brokerage Cash Services number: 9091092513 costs nothing. Sign on at wellsfargoadvisors.com, go to Portfolio and select Tax status: Non-Profit Statements & Docs, and then click on the Delivery Preferences link. Choose Investment objective/Risk tolerance:* CONSERVATIVE INCOME Paperless - All Docs or view your Delivery Settings details to select specific Time horizon:* INTERMEDIATE (3-5 YEARS) account documents for paperless delivery. If you do not have a Username and Liquidity needs:* MODERATE Password, visit wellsfargoadvisors.com/signup or call 1-877-879-2495 for Cost Basis Election: First in, First out enrollment assistance.
Sweep option: ALLSPRING GOVERNMENT MONEY
MARKET Document delivery status
*For more information, please visit us at: www.wellsfargoadvisors.com/disclosures Paper Electronic Statements: X Available funds Trade confirmations: X
Cash 0.00 Tax documents: X
Money market and sweep funds 13,257.72 Shareholder communications: X Available for loan 0.00 Other documents: X
Your total available funds $13,257.72
SNAPSHOT
072 ANCA ANC9
6
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Bond maturity schedule % OF
MATURING IN: AMOUNT MATURING CURRENT VALUE MATURING VALUE under 1 year 22,006,000.00 21,779,373.00 30.74
60,000,00 1 to 5 years 49,578,000.00 48,569,177.87 69.26 6 to 10 years 0.00 0.00 0.00
40,000,00 11 to 15 years 0.00 0.00 0.00
16 to 20 years 0.00 0.00 0.00
21 to 30 years 0.00 0.00 0.00
20,000,00 over 30 years 0.00 0.00 0.00
Total $71,584,000.00 $70,348,550.87 100.00%
0 under 1 1 - 5 6 - 10 11 - 15 16 - 20 21 - 30 Over 30
Years
Additional information
THIS PERIOD THIS YEAR THIS PERIOD THIS YEAR
Accrued interest on sales 0.00 71,095.65 Gross proceeds 464.50 49,845,620.12 Accrued interest on purchases 0.00 -124,567.88
Portfolio detail
Cash and Sweep Balances
Sweep Balances - You have the right, in the course of normal business operations, to withdraw balances in the Bank Deposit Sweep Program or redeem shares of the money market mutual fund used in the sweep, subject to any open commitments in any of your accounts and have the proceeds returned to your accounts or remitted to you. The money market mutual funds in the sweep reserve the right to require one or more day's prior notice before permitting withdrawals.
Money Market Mutual Fund - Funds seek to preserve a value at $1.00 per share, but it is possible to lose money by investing in these funds. Investments in money market funds are not bank deposits and are not insured by the FDIC or any other government agency. They are instead covered by SIPC. Estimated Annual Yield on money market funds, when available, reflects the current estimated yield for the Interest Period dates displayed. For more complete information, including fees, expenses and risks, please request a prospectus from Your Financial Advisor.
% OF CURRENT ESTIMATED ESTIMATED CURRENT
DESCRIPTION ACCOUNT MARKET VALUE ANNUAL INCOME YIELD (%) ALLSPRING 0.02 13,257.72 469.00 3.54
GOVERNMENT MONEY MARKET
Interest Period 11/01/25 - 11/30/25
Total Cash and Sweep Balances 0.02 $13,257.72 $469.00
072 ANCA ANC9
Amount Maturing
7
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Fixed Income Securities
Corporate and municipal bonds and other fixed income securities are priced by a computerized pricing service or, for less actively traded issues, by utilizing a yield-based matrix system to arrive at an estimated market value.
Government Bonds
ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%) US TREAS STRIPS 02/26
INTEREST PMT
DUE 02/15/26
DTD 02/15/96
Moody NR , S&P NR
CUSIP 912833LY4
Acquired 01/24/24 L 276,000 99.13 273,621.49 273,874.80 253.31
91.79 253,355.50
Acquired 10/08/24 L 5,275,000 99.17 5,231,582.09 5,234,382.50 2,800.41
94.77 4,999,423.80
Total 7.82 5,551,000 $99.17 $5,505,203.58 99.2300 $5,508,257.30 $3,053.72 N/A N/A N/A $94.62 $5,252,779.30
US TREASURY
NOTES
CPN 2.250% DUE 03/31/26
DTD 03/31/19 FC 09/30/19
Moody AA1
CUSIP 9128286L9
Acquired 03/15/23 L 5.65 4,000,000 96.38 3,855,382.00 99.4930 3,979,720.00 124,338.00 15,329.67 90,000 2.26
US TREASURY
NOTES
CPN 3.750% DUE 04/15/26
DTD 04/15/23 FC 10/15/23
Moody AA1
CUSIP 91282CGV7
Acquired 04/02/24 L 2.84 2,000,000 98.53 1,970,772.62 99.9940 1,999,880.00 29,107.38 9,684.06 75,000 3.75
UNITED STATES TREAS SEC
INT PMT BD
DUE 05/15/26
DTD 11/15/96
Moody NR , S&P NR
CUSIP 912833LZ1
Acquired 10/22/24 L 5.94 4,255,000 98.19 4,178,311.66 98.3240 4,183,686.20 5,374.54 N/A N/A N/A
93.98 3,999,109.60
072 ANCA ANC9
8
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Fixed Income Securities
Government Bonds continued
ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)
US TREASURY
NOTES
CPN 0.750% DUE 08/31/26
DTD 08/31/21 FC 02/28/22
Moody AA1
CUSIP 91282CCW9
Acquired 03/15/23 L 5.55 4,000,000 91.07 3,643,007.00 97.8390 3,913,560.00 270,553.00 7,624.31 30,000 0.76
US TREASURY
NOTES
CPN 2.500% DUE 03/31/27
DTD 03/31/22 FC 09/30/22
Moody AA1
CUSIP 91282CEF4
Acquired 03/15/23 L 5.60 4,000,000 96.45 3,858,132.00 98.6090 3,944,360.00 86,228.00 17,032.97 100,000 2.53
US TREASURY
NOTES
CPN 2.625% DUE 05/31/27
DTD 05/31/22 FC 11/30/22
Moody AA1
CUSIP 91282CET4
Acquired 03/21/24 L 3.14 2,245,000 95.32 2,139,978.18 98.6480 2,214,647.60 74,669.42 161.01 58,931 2.66
US TREASURY
NOTES
CPN 3.125% DUE 08/31/27
DTD 08/31/22 FC 02/28/23
Moody AA1
CUSIP 91282CFH9
Acquired 03/15/23 L 2.67 1,894,000 98.59 1,867,461.42 99.3160 1,881,045.04 13,583.62 15,042.13 59,188 3.14
US TREASURY
NOTES
CPN 1.250% DUE 04/30/28
DTD 04/30/21 FC 10/31/21
Moody AA1
CUSIP 91282CBZ3
Acquired 04/02/24 L 4.02 2,985,000 88.91 2,654,128.14 94.8470 2,831,182.95 177,054.81 3,195.27 37,313 1.31 072 ANCA ANC9
9
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Fixed Income Securities
Government Bonds continued
ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)
US TREASURY
NOTES
CPN 1.375% DUE 12/31/28
DTD 12/31/21 FC 06/30/22
Moody AA1
CUSIP 91282CDP3
Acquired 02/15/24 L 6.76 5,075,000 88.22 4,477,363.89 93.8510 4,762,938.25 285,574.36 29,201.93 69,781 1.46
US TREASURY
NOTES
CPN 2.875% DUE 04/30/29
DTD 04/30/22 FC 10/31/22
Moody AA1
CUSIP 91282CEM9
Acquired 04/30/24 L 2.17 1,565,000 92.50 1,447,763.07 97.9100 1,532,291.50 84,528.43 3,853.05 44,994 2.93
US TREASURY
NOTES
CPN 2.625% DUE 07/31/29
DTD 07/31/22 FC 01/31/23
Moody AA1
CUSIP 91282CFC0
Acquired 03/18/25 S 6.91 5,025,000 94.85 4,766,494.32 96.8710 4,867,767.75 101,273.43 44,088.23 131,906 2.70
US TREASURY
NOTES
CPN 3.500% DUE 09/30/29
DTD 09/30/24 FC 03/31/25
Moody AA1
CUSIP 91282CLN9
Acquired 09/17/25 S 6.95 4,910,000 100.28 4,924,237.03 99.8160 4,900,965.60 -23,271.43 29,271.16 171,850 3.50 100.30 4,924,890.44
US TREASURY
NOTES
CPN 4.000% DUE 10/31/29
DTD 10/31/22 FC 04/30/23
Moody AA1
CUSIP 91282CFT3
Acquired 11/07/24 L 4.33 3,000,000 99.61 2,988,405.43 101.6050 3,048,150.00 59,744.57 10,276.24 120,000 3.93 072 ANCA ANC9
10
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Fixed Income Securities
Government Bonds continued
ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)
US TREASURY
NOTES
CPN 3.500% DUE 01/31/30
DTD 01/31/23 FC 07/31/23
Moody AA1
CUSIP 91282CGJ4
Acquired 02/20/25 S 7.03 4,965,000 96.82 4,807,135.54 99.7380 4,951,991.70 144,856.16 58,082.41 173,775 3.50
US TREASURY
NOTES
CPN 1.500% DUE 02/15/30
DTD 02/15/20 FC 08/15/20
Moody AA1
CUSIP 912828Z94
Acquired 03/18/25 S 6.99 5,350,000 89.17 4,770,769.19 92.0110 4,922,588.50 151,819.31 23,551.63 80,250 1.63
US TREASURY
NOTES
CPN 4.125% DUE 08/31/30
DTD 08/31/23 FC 02/29/24
Moody AA1
CUSIP 91282CHW4
Acquired 09/17/25 S 7.06 4,864,000 102.67 4,994,155.73 102.2570 4,973,780.48 -20,375.25 50,991.38 200,640 4.03 102.77 4,999,211.02
Total Government Bonds 91.41 65,684,000 $62,848,700.8 $64,416,812.87$1,568,112.07 $317,385.45 $1,443,628 2.24 0 $62,422,783.1
6 072 ANCA ANC9
11
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Fixed Income Securities
Certificates of Deposit
Long-term certificates of deposit (maturity beyond one year from date of issue) are priced using a market value pricing model.
ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%) STATE BANK OF INDIA CD ^
NEW YORK NY ACT/365
FDIC INSD
CPN 4.950% DUE 12/02/25
DTD 12/02/22 FC 06/02/23
CUSIP 856285V81
Acquired 11/28/22 L 0.35 250,000 100.00 250,000.00 99.9700 249,925.00 -75.00 6,170.54 12,375 4.95 SALLIE MAE BANK/SALT CD ^
SALT LAKE CTY UT ACT/365
FDIC INSD
CPN 4.750% DUE 12/15/25
DTD 12/13/23 FC 06/13/24
CUSIP 795451DG5
Acquired 12/07/23 L 0.35 250,000 100.00 250,000.00 100.0400 250,100.00 100.00 5,563.35 11,875 4.74 BANK OF AMERICA NA CD ^
CHARLOTTE NC ACT/365
FDIC INSD
CPN 4.950% DUE 01/05/26
DTD 07/03/24 FC 01/03/25
CUSIP 06051XFE7
Acquired 06/26/24 L 0.36 250,000 100.00 250,000.00 100.1090 250,272.50 272.50 5,119.52 12,375 4.94
ISRAEL DISCOUNT BK OF CD
NEW YORK NY ACT/365
FDIC INSD
CPN 4.450% DUE 02/09/26
DTD 08/07/24 FC 02/07/25
CUSIP 465076UQ8
Acquired 08/05/24 L 0.36 250,000 100.00 250,000.00 100.1080 250,270.00 270.00 3,535.62 11,125 4.44
DOLLAR BANK FSB PA CD
PITTSBURGH PA ACT/365
FDIC INSD
CPN 4.000% DUE 02/27/26
DTD 08/28/24 FC 02/28/25
CUSIP 25665QDE2
Acquired 08/20/24 L 0.35 250,000 100.00 250,000.00 100.0250 250,062.50 62.50 2,630.14 10,000 3.99 072 ANCA ANC9
12
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Fixed Income Securities
Certificates of Deposit continued
ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)
COMENITY BANK CD
WILMINGTON DE ACT/365
JUMBO CD FDIC INSURED
CPN 2.000% DUE 03/18/26
DTD 03/18/22 FC 04/18/22
CUSIP 99000QQW7
Acquired 03/15/22 L 0.28 200,000 100.00 200,000.00 99.2785 198,557.00 -1,443.00 142.47 4,000 2.01
SYNCHRONY BANK CD
DRAPER UT ACT/365
FDIC INSD
CPN 5.000% DUE 03/24/26
DTD 03/24/23 FC 09/24/23
CUSIP 87165HX21
Acquired 03/14/23 L 0.36 250,000 100.00 250,000.00 100.3430 250,857.50 857.50 2,328.77 12,500 4.98
BARCLAYS BANK/DELAWAR CD
WILMINGTON DE ACT/365
FDIC INSD
CPN 4.000% DUE 08/28/26
DTD 08/28/24 FC 02/28/25
CUSIP 06740KSW8
Acquired 08/20/24 L 0.36 250,000 100.00 250,000.00 100.0990 250,247.50 247.50 2,602.74 10,000 3.99
TEXAS EXCHANGE BK SSB CD
CROWLEY TX ACT/365
CALLABLE FDIC INSD
CPN 1.100% DUE 10/29/26
DTD 10/29/21 FC 11/29/21
CALL 12/29/25 @ 100.000
CUSIP 88241TMC1
Acquired 10/22/21 L 0.35 250,000 100.00 250,000.00 97.5910 243,977.50 -6,022.50 15.06 2,750 1.12
DISCOVER BANK CD
GREENWOOD DE ACT/365
FDIC INSD
CPN 4.950% DUE 11/16/26
DTD 11/15/22 FC 05/15/23
CUSIP 254673Z66
Acquired 11/09/22 L 0.29 200,000 100.00 200,000.00 101.1630 202,326.00 2,326.00 433.97 9,900 4.89 072 ANCA ANC9
13
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Fixed Income Securities
Certificates of Deposit continued
ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)
UBS BANK USA CD
SALT LAKE CTY UT ACT/365
FDIC INSD
CPN 1.150% DUE 12/08/26
DTD 12/08/21 FC 01/08/22
CUSIP 90348JX96
Acquired 11/30/21 L 0.35 250,000 100.00 250,000.00 97.3830 243,457.50 -6,542.50 181.17 2,875 1.18
CALPRIVATE BANK CD
LA JOLLA CA ACT/365
FDIC INSD
CPN 4.050% DUE 02/16/27
DTD 08/14/24 FC 02/14/25
CUSIP 13135NCY4
Acquired 08/05/24 L 0.36 250,000 100.00 250,000.00 100.3560 250,890.00 890.00 3,023.63 10,125 4.03
VALLEY NATL BK WAYNE CD
WAYNE NJ ACT/365
FDIC INSD
CPN 4.600% DUE 03/11/27
DTD 03/11/24 FC 09/11/24
CUSIP 919853KW0
Acquired 03/05/24 L 0.36 250,000 100.00 250,000.00 101.0500 252,625.00 2,625.00 2,552.06 11,500 4.55
BRADESCO BANK CD
CORAL GABLES FL ACT/365
FDIC INSD
CPN 4.500% DUE 03/22/27
DTD 03/21/24 FC 09/21/24
CUSIP 10421AAT4
Acquired 03/05/24 L 0.36 250,000 100.00 250,000.00 100.9610 252,402.50 2,402.50 2,188.35 11,250 4.45
BNY MELLON NA CD
NEW YORK NY ACT/365
FDIC INSD
CPN 4.600% DUE 06/01/27
DTD 05/29/24 FC 11/29/24
CUSIP 05584CP59
Acquired 05/23/24 L 0.36 250,000 100.00 250,000.00 101.2200 253,050.00 3,050.00 4,883.57 11,500 4.54 072 ANCA ANC9
14
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Fixed Income Securities
Certificates of Deposit continued
ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)
EAGLEMARK SVGS BK CD
CARSON CTY NV ACT/365
FDIC INSD
CPN 4.700% DUE 07/02/27
DTD 07/03/24 FC 01/03/25
CUSIP 27004PFE8
Acquired 06/26/24 L 0.36 250,000 100.00 250,000.00 101.4430 253,607.50 3,607.50 4,860.96 11,750 4.63
CELTIC BANK CD
SALT LAKE CTY UT ACT/365
FDIC INSD
CPN 2.000% DUE 12/27/27
DTD 12/27/19 FC 01/27/20
CUSIP 15118RTH0
Acquired 12/09/19 L 0.34 250,000 100.00 250,000.00 96.5590 241,397.50 -8,602.50 54.80 5,000 2.07
AMERANT BANK NA CD
CORAL GABLES FL ACT/365
FDIC INSD
CPN 4.050% DUE 03/28/28
DTD 03/28/25 FC 09/28/25
CUSIP 02357QCL9
Acquired 03/18/25 S 0.36 250,000 100.00 250,000.00 100.7080 251,770.00 1,770.00 1,775.34 10,125 4.02
UNIVEST BANK & TR CO CD
SOUDERTON PA ACT/365
FDIC INSD
CPN 4.300% DUE 02/28/29
DTD 02/28/25 FC 03/28/25
CUSIP 91527PCP0
Acquired 02/20/25 S 0.36 250,000 100.00 250,000.00 101.6710 254,177.50 4,177.50 88.35 10,750 4.22
BEAL BANK USA CD
LAS VEGAS NV ACT/365
FDIC INSD
CPN 4.700% DUE 05/30/29
DTD 06/05/24 FC 12/05/24
CUSIP 07371DR66
Acquired 05/23/24 L 0.37 250,000 100.00 250,000.00 102.9900 257,475.00 7,475.00 836.99 11,750 4.56 072 ANCA ANC9
15
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Fixed Income Securities
Certificates of Deposit continued
ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)
BEAL BANK - PLANO TX CD
PLANO TX ACT/365
FDIC INSD
CPN 4.700% DUE 05/30/29
DTD 06/05/24 FC 12/05/24
CUSIP 07371BVU2
Acquired 05/23/24 L 0.37 250,000 100.00 250,000.00 102.9900 257,475.00 7,475.00 836.99 11,750 4.56
MORGAN STANLEY PVT BK CD
PURCHASE NY ACT/365
FDIC INSD
CPN 4.650% DUE 05/30/29
DTD 05/30/24 FC 11/30/24
CUSIP 61768E4J9
Acquired 05/23/24 L 0.36 250,000 100.00 250,000.00 102.7940 256,985.00 6,985.00 31.85 11,625 4.52
TOYOTA FINL SGS BK CD
HENDERSON NV ACT/365
FDIC INSD
CPN 4.500% DUE 06/28/29
DTD 06/28/24 FC 12/28/24
CUSIP 89235MPR6
Acquired 06/26/24 L 0.36 250,000 100.00 250,000.00 102.3420 255,855.00 5,855.00 4,808.22 11,250 4.39
MORGAN STANLEY BK NA CD
SALT LAKE CTY UT ACT/365
FDIC INSD
CPN 4.250% DUE 02/26/30
DTD 02/26/25 FC 08/26/25
CUSIP 61690DS33
Acquired 02/20/25 S 0.36 250,000 100.00 250,000.00 101.5900 253,975.00 3,975.00 2,823.63 10,625 4.18 Total Certificates of Deposit 8.42 5,900,000 $5,900,000.00 $5,931,738.00 $31,738.00 $57,488.09 $238,775 4.03 Total Fixed Income Securities 99.83 $68,748,700.8 $70,348,550.87$1,599,850.07 $374,873.54 $1,682,403 2.39 0 $68,322,783.1
6 ^ Denotes Certificate of Deposit with a maturity date in the next 60 days. Please contact us for further investment opportunities or any assistance. 072 ANCA ANC9
16
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Mutual Funds
Open End Mutual Funds
Open End Mutual Fund shares are priced at net asset value. Estimated Annual Income and Yield refer to Dividends and Interest Income only, and typically do not reflect Total return.
Although retail and government money market funds seek to preserve a net asset value (NAV) of $1.00 per share, in a negative interest rate environment, the fund's net asset value (NAV) may float to the nearest 1/100th of a cent (i.e., $0.9999). When the NAV is floating, the value of your investment will fluctuate and lose value.
ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INCOME YIELD (%)
FIDELITY FUNDS
FIDELITY TREASURY ONLY
PORT INSTL CLASS SHS
FRSXX
On Reinvestment
Acquired 11/10/25 S nc 0.15 107,866.50000 1.00 107,866.50 1.0000 107,866.50 0.00 4,369 4.05 Total Open End Mutual Funds 0.15 $107,866.50 $107,866.50 $0.00 $4,369 4.05 Total Mutual Funds 0.15 $107,866.50 $107,866.50 $0.00 $4,369 4.05 nc Cost information for this tax lot is not covered by IRS reporting requirements. Unless indicated, cost for all other lots will be reported to the IRS.
Activity detail
Income and distributions
DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 11/03 Cash DIVIDEND FIDELITY FUNDS 5,280.97
FIDELITY TREASURY ONLY
PORT INSTL CLASS SHS
103125 1,615,544.79000
AS OF 10/31/25
11/10 Cash INTEREST UBS BANK USA CD 244.18
SALT LAKE CTY UT ACT/365
FDIC INSD
CPN 1.150% DUE 12/08/26
DTD 12/08/21 FC 01/08/22
110825 250,000
AS OF 11/08/25
CUSIP 90348JX96
072 ANCA ANC9
17
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Activity detail continued
Income and distributions
DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 11/12 Cash DIVIDEND ALLSPRING 485.64
GOVERNMENT MONEY MARKET
SWEEP CLASS
11/17 Cash INTEREST DISCOVER BANK CD 4,990.68
GREENWOOD DE ACT/365
FDIC INSD
CPN 4.950% DUE 11/16/26
DTD 11/15/22 FC 05/15/23
111525 200,000
AS OF 11/15/25
CUSIP 254673Z66
11/18 Cash INTEREST COMENITY BANK CD 339.73
WILMINGTON DE ACT/365
JUMBO CD FDIC INSURED
CPN 2.000% DUE 03/18/26
DTD 03/18/22 FC 04/18/22
111825 200,000
CUSIP 99000QQW7
11/28 Cash INTEREST CELTIC BANK CD 424.66
SALT LAKE CTY UT ACT/365
FDIC INSD
CPN 2.000% DUE 12/27/27
DTD 12/27/19 FC 01/27/20
112725 250,000
AS OF 11/27/25
CUSIP 15118RTH0
11/28 Cash INTEREST MORGAN STANLEY PVT BK CD 5,860.27
PURCHASE NY ACT/365
FDIC INSD
CPN 4.650% DUE 05/30/29
DTD 05/30/24 FC 11/30/24
113025 250,000
AS OF 11/30/25
CUSIP 61768E4J9
072 ANCA ANC9
18
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Activity detail continued
Income and distributions
DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 11/28 Cash INTEREST TEXAS EXCHANGE BK SSB CD 233.56
CROWLEY TX ACT/365
CALLABLE FDIC INSD
CPN 1.100% DUE 10/29/26
DTD 10/29/21 FC 11/29/21
112925 250,000
AS OF 11/29/25
CUSIP 88241TMC1
11/28 Cash INTEREST UNIVEST BANK & TR CO CD 913.01
SOUDERTON PA ACT/365
FDIC INSD
CPN 4.300% DUE 02/28/29
DTD 02/28/25 FC 03/28/25
112825 250,000
CUSIP 91527PCP0
11/28 Cash DIVIDEND ALLSPRING 10.17
GOVERNMENT MONEY MARKET
SWEEP CLASS
112825 13,247
Total Income and distributions: $18,782.87
Securities sold and redeemed
DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 11/12 Cash SALE -464.50000 FIDELITY FUNDS 1.0000 464.50
FIDELITY TREASURY ONLY
PORT INSTL CLASS SHS
Total Securities sold and redeemed: $464.50
Securities purchased
DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 11/10 Cash PURCHASE 108,331.00000 FIDELITY FUNDS 1.0000 -108,331.00
FIDELITY TREASURY ONLY
PORT INSTL CLASS SHS
Total Securities purchased: -$108,331.00
072 ANCA ANC9
19
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Activity detail continued
Electronic funds transfer
DATE ACCOUNT TYPE TRANSACTION DESCRIPTION AMOUNT
11/03 Cash AUTO ACTIVITY ACH DIRECT DEPOSIT -1,858,000.00 TRACE # 121000240082804
FBO CITY OF MALIBU NA
TRANSFER TO
FIRST BANK
CHK XXXXXXXXXXXXX3702
Total Electronic funds transfer: -$1,858,000.00
Cash sweep activity
Our Cash Sweep program allows you to earn a return on the idle cash balances in your account by automatically investing such balances into one of our cash sweep options. These 'sweep transactions' may represent a net amount for the day and occur on settlement date. The following section displays transfers into and out of your sweep option. Transactions displayed here are Transfer To, Transfer From and Reinvested Dividends and Interest. These transaction amounts are not included in your cash flow summary.
DATE TRANSACTION DESCRIPTION AMOUNT DATE TRANSACTION DESCRIPTION AMOUNT 11/01 BEGINNING BALANCE 1,960,341.35 11/17 TRANSFER TO ALLSPRING 4,990.68
GOVERNMENT MONEY MARKET
11/03 TRANSFER FROM ALLSPRING -1,852,719.03 11/19 TRANSFER TO ALLSPRING 339.73
GOVERNMENT MONEY MARKET GOVERNMENT MONEY MARKET
11/10 TRANSFER TO ALLSPRING 244.18 11/28 REINVEST DIV ALLSPRING 10.17
GOVERNMENT MONEY MARKET GOVERNMENT MONEY MARKET
11/12 TRANSFER FROM ALLSPRING -107,866.50 11/28 TRANSFER TO ALLSPRING 7,431.50
GOVERNMENT MONEY MARKET GOVERNMENT MONEY MARKET
11/13 TRANSFER TO ALLSPRING 21.14 11/30 ENDING BALANCE 13,257.72
GOVERNMENT MONEY MARKET
11/14 TRANSFER TO ALLSPRING 464.50
GOVERNMENT MONEY MARKET
072 ANCA ANC9
20
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Bank Deposits Through Teller November 1 - November 30
Wells Fargo Bank, N.A. (Member FDIC) Account number 9091092513 Questions? Call us at 1-800-266-6263 Deposits made in a bank branch on the last business day of the month will typically appear on your next statement. Wells Fargo Clearing Services, LLC is not an FDIC-insured depository institution; FDIC deposit insurance only protects against the failure of an insured depository institution. Banking products and services provided by Wells Fargo Bank, N.A. Member FDIC.
DATE TRANSACTION DESCRIPTION AMOUNT BANK BALANCE
11/01 BEGINNING BALANCE $0.00
11/30 ENDING BALANCE $0.00
Realized gain/loss
Realized Gain/Loss Summary
THIS PERIOD THIS PERIOD THIS PERIOD THIS YEAR THIS YEAR THIS YEAR
GAIN LOSS NET GAIN LOSS NET
Short term 0.00 0.00 0.00 0.00 0.00 0.00
Long term 0.00 0.00 0.00 2,325.29 0.00 2,325.29
Total Realized Gain/Loss $0.00 $0.00 $0.00 $2,325.29 $0.00 $2,325.29 072 ANCA ANC9
21
CITY OF MALIBU
RUTH QUINTO
NOVEMBER 1, 2025 - NOVEMBER 30, 2025
ACCOUNT NUMBER:
Realized Gain/Loss Detail
Short term
ADJ PRICE/ DATE ADJ COST/
DESCRIPTION QUANTITY ORIG PRICE ACQUIRED CLOSE DATE PROCEEDS ORIG COST GAIN/LOSS FIDELITY FUNDS 464.50000 1.0000 11/10/25 11/12/25 nc 464.50 464.50 0.00
FIDELITY TREASURY ONLY
PORT INSTL CLASS SHS
CUSIP 31607A802
Total Short term $464.50 $464.50 $0.00
nc Cost information for this tax lot is not covered by IRS reporting requirements. Unless indicated, cost for all other lots will be reported to the IRS.
Specific instructions and disclosures
Available funds
"Available for loan" reflects the approximate amount available as of the statement period ending date and should be reduced by any pending checks and Visa charges not yet cleared. This amount is the approximate amount available for withdrawal and loans. A margin loan is a variable rate loan secured by your account.
Income on non-reportable accounts
Your income summary is categorized into taxable and tax-exempt income based upon the securities that you hold. Please be aware that, since this is a 1099 non-reportable account, this income will NOT be reported to the IRS, but is being provided to you for informational purposes only.
Callable Securities
Securities that are subject to a partial call will be selected by an impartial lottery process in which the probability of your securities being selected for redemption is proportional to the holdings of all shareholders of such securities held in street name. If a security is called prior to maturity it may affect the yield you receive. Additional information is available at www.wellsfargoadvisors.com under Legal Disclosures or the written procedures are available upon request.
Cost basis - To add or update information or modify your reporting options, please contact Your Financial Advisor.
This statement presents estimated unrealized or realized gains or losses for your information only. If acquisition or other information is not available, the gain/loss information may not be displayed and section and summary totals may not reflect your complete portfolio. Cost basis information is not verified by WFCS or Wells Fargo Advisors Financial Network and should not be relied upon for legal or tax purposes. Revisions to this information (due to corporate mergers, tenders and other reorganizations) may be required from time to time.
Cost basis for factored bonds (GNMA, CMO, etc.) will be adjusted for paydown of principal. Systematic investments in mutual funds and reinvested dividends for mutual funds and stocks have been consolidated for each position. Unit cost data for systematic investments and dividend reinvestment securities is provided for informational purposes only and is a non-weighted average.
Your account statement should not be used for tax preparation without assistance from your tax consultant. We do not report capital gains or losses for non-covered securities to the IRS.
Cost basis options
Unless specific tax lots are selected at trade time, sales of tax lots will occur using the cost basis election reflected in the Account profile section.
Estimated accrued interest on Fixed Income securities
Estimated accrued interest is included in the Portfolio summary as a convenience to you and represents the estimated portion of the interest that would be received upon the sale of the Fixed Income positions in your account, calculated from the date of the last coupon (or dated date) through the date of the account statement, based upon information provided by the issuer. This is not a guarantee that this amount will be realized in your account. Actual income will be based upon the payout schedule of the securities held in your account. If you own a Foreign Fixed Income security, and it is denominated in a foreign currency, the Estimated accrued interest will not be accurate. 072 ANCA ANC9
22 *** THIS PAGE IS INTENTIONALLY LEFT BLANK ***
23 Portfolio Analysis
Prepared for CITY OF MALIBU
December 01, 2025
Prepared by:
WILLIAM GOMBERG
This report is not complete without all sections noted in the Table of Contents. Please read each section carefully.
Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), a registered broker-dealer and non-bank affiliate of Wells Fargo & Company. WFAFN uses the trade name Wells Fargo Advisors. Any other referenced entity is a separate entity from WFAFN. © 2025 Wells Fargo
PM-11212026-7994899.1.1 Attachment 2
24 Table of Contents
Fixed Income Summary 3
Fixed Income Statistics 6
Redemption Distribution Rolling 12 Months 12
Fixed Income Redemption Distribution 14
Estimated Income Summary 17
Important Information 19
CITY OF MALIBU | December 01, 2025
25 Fixed Income Summary
As of 11/28/2025 for XXXX7847 - CITY OF MALIBU
Security Sub Type
Security sub type Market value % Fxd income
Government Bond 64,416,813 91.60%
Corporate Bond 5,931,738 8.40%
Total $70,348,551 100%
Credit Quality Ratings
Credit quality ratings % Fxd income
Treasury 91.60%
CDs 8.40%
Agency -
AAA -
AA -
A -
BBB -
Below inv grade -
Not rated -
N/A -
Total 100%
Bond Statistics
Statistic Taxable Tax exempt
Weighted avg coupon 2.37% -
Yield at purchase 3.89% -
Yield to maturity 3.70% -
Yield to worst 3.70% -
Weighted avg maturity: 1.96 yrs
Total duration: 2.32 yrs
Estimated Income Annualized
Month Estimated income annualized
12/2025 66,558
01/2026 167,158
02/2026 208,111
03/2026 205,381
04/2026 140,469
05/2026 47,632
06/2026 54,034
07/2026 160,424
08/2026 197,144
09/2026 154,313
10/2026 102,910
11/2026 47,664
Total $1,551,796
Taxable $1,551,796
Tax exempt -
Tax exempt Subject to AMT -
The asset classification of Corporate Bonds includes holdings of Certificates of Deposit. Funds include open end mutual funds, exchange-traded funds, closed end funds. Estimated Income Annualized (EIA) takes your current income, based on the current dividends or interest paid by your securities and multiplies it to create an annualized hypothetical figure. It does not reflect actual or future CITY OF MALIBU | December 01, 2025 Page 3 of 21
26 performance and should not be relied upon when making financial decisions. All annualizations are based upon current positions using a simple mathematical calculation and assumes all figures remain constant for a year; any subsequent position changes will affect these calculations. Calculations for certain types of securities could include a return of principal or capital gain, in which case the figures would be overstated. Past performance is not a guarantee of future results. Dividend payments are made solely at the discretion of the issuer and are subject to be changed or eliminated at any time.
Estimated Income is an estimate and the actual income might be lower or higher than the estimated amount. Estimated income reflects only the income generated by an investment. It does not reflect changes in price, which may fluctuate. The Credit Quality Rating shown takes the lower of the two credit agency ratings between Moody's and Standard & Poor's and converts it to the equivalent S&P major rating category. Credit Quality Ratings and Bond Statistics sections do not include bond funds. Bond Statistics are weighted averages based on market value of bonds in the portfolio. Yield calculations are based on yield prices that may change monthly. Fixed income holdings, where the information is not available, are excluded from the Yield at Purchase, Yield to worst, Yield to maturity, Total duration, Weighted average coupon and Weighted average maturity calculations. For more information, including fixed income descriptions, please see the Important Information section at the end of this report.
Bond Term vs. Duration
Bond: 101% of bonds with short bond terms (0 to <5 yrs), 0% of bonds with intermediate bond terms (5 to <10 yrs), 0% of bonds with long bond terms (10+ yrs), 0% of bonds with a N/A bond terms.
Duration: 101% of bonds with short bond terms (0 to <5 yrs), 0% of bonds with intermediate bond terms (5 to <10 yrs), 0% of bonds with long bond terms (10+ yrs), 0% of bonds with a N/A bond terms.
CITY OF MALIBU | December 01, 2025 Page 4 of 21
27 Total portfolio value: $70,469,675
Bond term indicates years to redemption date as defined in the Important Information section.
Mortgage-backed securities (MBSs) include asset-backed securities (ABSs), pass-throughs and collateralized mortgage obligations (CMOs). For MBSs, the full market value is displayed at the average life of each security, when available. Duration indicates calculated option adjusted duration. 'Bonds' include preferred stocks.
In the Callable Analysis chart, MBS includes all prepaying securities. Callable value applies next call price and date to the remaining principal. Call premiums may decline subsequent to the initial call date. Extraordinary call features may exist that are not represented in this report. Bond Term vs.
Duration and Callable Analysis sections do not include bond funds. For more information, including fixed income descriptions, please see the Important Information section at the end of this report.
Callable Analysis
Term Callable value Market value
MBS - -
0 to <1 yrs 250,000 243,978
1 to <2 yrs - -
2 to <3 yrs - -
3 to <4 yrs - -
4 to <5 yrs - -
5 to <7 yrs - -
7+ yrs - -
Not Available - -
Non-Callable - 70,104,573
Total $250,000 $70,348,551
CITY OF MALIBU | December 01, 2025 Page 5 of 21
28 Fixed Income Statistics
As of 11/28/2025 for XXXX7847 - CITY OF MALIBU
Subtotals and totals are weighted averages based on market value These references may display in the following data table within the column, Description:**Indicates that this holding is insured by a credit agency but the specific insurer is unknown. Redemption Types: M - maturity, R - refunded, T - mandatory tender/put, P - perpetual (displays date of report plus sixty years), D - Dutch auction or optional tender, A - estimated average life of prepaying securities. Call Types: C - Optional Premium Call, P - Optional Par Call. YTW Codes: C = next call, P = par call, W = middle call, R = pre-refunding, M = maturity of issue, A = estimated average life on principal paydown securities, T = next mandatory put/tender, F = called in full.
Description
Qty/Face
and
Rem Prin
and
Factor
Moody's
and
S&P
and
Enhance
Coupon
and
Cpn Type
Redemption
and
Next Call
and
Call Price
Mkt Price
and
Adj Price
and
Orig Price
Mkt Value($)
and Gain Loss ($)
and
Purch Yld
Yld Price
and
YTWand
YTM
Duration
and
Convexity
Dur Cont
and
% Fxd Inc
and
% Port
U.S. Taxable Investment
Grade Fixed Income
asset class total (category applies to all security types below) N/A
and
N/A
and
N/A
N/A
and
N/A
and
N/A
2.372%
and
N/A
N/A
and
N/A
and
N/A
N/A
and
N/A
and
N/A
70,348,551
and
1,601,806
and
3.89%
N/A
and
3.70%
and
3.70%
2.3 and
0.1 2.3
and
100.0%
and
99.8%
Treasury Note
security type total (category applies to all holdings below) N/A
and
N/A
and
N/A
N/A
and
N/A
and
N/A
2.609%
and
N/A
N/A
and
N/A
and
N/A
N/A
and
N/A
and
N/A
54,724,869
and
1,559,526
and
3.85%
N/A
and
3.68%
and
3.68%
2.7 and
0.1 2.1
and
77.8%
and
77.7%
US TREASURY/ NOTES/
9128286L9
4,000,000
and
-
and
-
AA1
and
-
and
-
2.250%
and
Fixed
03/31/26 M
and
-
and
-
99.49 and
96.38 and
96.38 3,979,720
and
124,338
and
3.51%
99.37 and
3.80% M
and
3.80%
0.4 and
0.0 and
0.0 and
5.7%
and
5.6%
US TREASURY/ NOTES/
91282CGV7
2,000,000
and
-
and
-
AA1
and
-
and
-
3.750%
and
Fixed
04/15/26 M
and
-
and
-
99.99 and
98.54 and
98.54 1,999,880
and
29,107
and
4.51%
99.96 and
3.83% M
and
3.83%
0.4 and
0.0 and
0.0 and
2.8%
and
2.8%
US TREASURY/ NOTES/
91282CCW9
4,000,000
and
-
and
-
AA1
and
-
and
-
0.750%
and
Fixed
08/31/26 M
and
-
and
-
97.84 and
91.08 and
91.08 3,913,560
and
270,553
and
3.52%
97.58 and
3.76% M
and
3.76%
0.8 and
0.0 and
0.0 and
5.6%
and
5.6%
US TREASURY/ NOTES/
91282CEF4
4,000,000
and
-
and
-
AA1
and
-
and
-
2.500%
and
Fixed
03/31/27 M
and
-
and
-
98.61 and
96.45 and
96.45 3,944,360
and
86,228
and
3.45%
98.41 and
3.67% M
and
3.67%
1.4 and
0.0 and
0.1 and
5.6%
and
5.6%
US TREASURY/ NOTES/
91282CET4
2,245,000
and
-
and
-
AA1
and
-
and
-
2.625%
and
Fixed
05/31/27 M
and
-
and
-
98.65 and
95.32 and
95.32 2,214,648
and
74,669
and
4.21%
98.45 and
3.65% M
and
3.65%
1.5 and
0.0 and
0.0 and
3.1%
and
3.1%
1,894,000
and
-
and
AA1
and
-
and
08/31/27 M
and
-
and
99.32 and
98.60 and
1,881,045
and
13,584
and
99.14 and
3.61% M
and
0.0 and
2.7%
and
US TREASURY/ NOTES/
91282CFH9
3.125%
and
Fixed
1.7 and
0.0 and
CITY OF MALIBU | December 01, 2025 Page 6 of 21
29 Description
Qty/Face
and
Rem Prin
and
Factor
Moody's
and
S&P
and
Enhance
Coupon
and
Cpn Type
Redemption
and
Next Call
and
Call Price
Mkt Price
and
Adj Price
and
Orig Price
Mkt Value($)
and Gain Loss ($)
and
Purch Yld
Yld Price
and
YTWand
YTM
Duration
and
Convexity
Dur Cont
and
% Fxd Inc
and
% Port
- - - 98.60 3.47% 3.61% 2.7%
US TREASURY/ NOTES/
91282CBZ3
2,985,000
and
-
and
-
AA1
and
-
and
-
1.250%
and
Fixed
04/30/28 M
and
-
and
-
94.85 and
88.92 and
88.92 2,831,183
and
177,055
and
4.24%
94.44 and
3.60% M
and
3.60%
2.4 and
0.1 and
0.1 and
4.0%
and
4.0%
US TREASURY/ NOTES/
91282CDP3
5,075,000
and
-
and
-
AA1
and
-
and
-
1.375%
and
Fixed
12/31/28 M
and
-
and
-
93.85 and
88.22 and
88.22 4,762,938
and
285,574
and
4.06%
93.39 and
3.61% M
and
3.61%
3.0 and
0.1 and
0.2 and
6.8%
and
6.8%
US TREASURY/ NOTES/
91282CEM9
1,565,000
and
-
and
-
AA1
and
-
and
-
2.875%
and
Fixed
04/30/29 M
and
-
and
-
97.91 and
92.51 and
92.51 1,532,292
and
84,528
and
4.57%
97.53 and
3.63% M
and
3.63%
3.3 and
0.1 and
0.1 and
2.2%
and
2.2%
US TREASURY/ NOTES/
91282CFC0
5,025,000
and
-
and
-
AA1
and
-
and
-
2.625%
and
Fixed
07/31/29 M
and
-
and
-
96.87 and
94.86 and
94.86 4,867,768
and
101,273
and
3.92%
96.43 and
3.65% M
and
3.65%
3.5 and
0.1 and
0.2 and
6.9%
and
6.9%
US TREASURY/ NOTES/
91282CLN9
4,910,000
and
-
and
-
AA1
and
-
and
-
3.500%
and
Fixed
09/30/29 M
and
-
and
-
99.82 and
100.29
and
100.30
4,900,966
and
-23,291
and
3.42%
99.42 and
3.66% M
and
3.66%
3.6 and
0.2 and
0.3 and
7.0%
and
7.0%
US TREASURY/ NOTES/
91282CFT3
3,000,000
and
-
and
-
AA1
and
-
and
-
4.000%
and
Fixed
10/31/29 M
and
-
and
-
101.60
and
99.61 and
99.61 3,048,150
and
59,745
and
4.09%
101.24
and
3.66% M
and
3.66%
3.7 and
0.2 and
0.2 and
4.3%
and
4.3%
US TREASURY/ NOTES/
91282CGJ4
4,965,000
and
-
and
-
AA1
and
-
and
-
3.500%
and
Fixed
01/31/30 M
and
-
and
-
99.74 and
96.82 and
96.82 4,951,992
and
144,856
and
4.22%
99.31 and
3.68% M
and
3.68%
3.9 and
0.2 and
0.3 and
7.0%
and
7.0%
US TREASURY/ NOTES/
912828Z94
5,350,000
and
-
and
-
AA1
and
-
and
-
1.500%
and
Fixed
02/15/30 M
and
-
and
-
92.01 and
89.17 and
89.17 4,922,589
and
151,819
and
3.95%
91.50 and
3.66% M
and
3.66%
4.1 and
0.2 and
0.3 and
7.0%
and
7.0%
US TREASURY/ NOTES/
91282CHW4
4,864,000
and
-
and
-
AA1
and
-
and
-
4.125%
and
Fixed
08/31/30 M
and
-
and
-
102.26
and
102.68
and
102.78
4,973,780
and
-20,514
and
3.51%
101.79
and
3.72% M
and
3.72%
4.3 and
0.2 and
0.3 and
7.1%
and
7.1%
N/A
and
N/A
and
N/A
and
N/A
and
N/A
and
N/A
and
N/A
and
N/A
and
9,691,944
and
10,542
and
N/A
and
3.78%
and
0.1 and
13.8%
and
Treasury Strip
security type total (category applies to all holdings below) -
and
N/A
0.4 and
-
CITY OF MALIBU | December 01, 2025 Page 7 of 21
30 Description
Qty/Face
and
Rem Prin
and
Factor
Moody's
and
S&P
and
Enhance
Coupon
and
Cpn Type
Redemption
and
Next Call
and
Call Price
Mkt Price
and
Adj Price
and
Orig Price
Mkt Value($)
and Gain Loss ($)
and
Purch Yld
Yld Price
and
YTWand
YTM
Duration
and
Convexity
Dur Cont
and
% Fxd Inc
and
% Port
N/A N/A N/A N/A 4.02% 3.78% 13.8%
US TREAS STRIPS
02/26/ INTEREST PMT/
912833LY4
5,275,000
and
-
and
-
NR
and
NR
and
-
0.000%
and
-
02/15/26 M
and
-
and
-
99.23 and
99.16 and
94.78 5,234,383
and
3,928
and
4.01%
98.94 and
3.80% M
and
3.80%
0.3 and
0.0 and
0.0 and
7.4%
and
7.4%
US TREAS STRIPS
02/26/ INTEREST PMT/
912833LY4
276,000
and
-
and
-
NR
and
NR
and
-
0.000%
and
-
02/15/26 M
and
-
and
-
99.23 and
99.12 and
91.79 273,875
and
315
and
4.21%
98.94 and
3.80% M
and
3.80%
0.3 and
0.0 and
0.0 and
0.4%
and
0.4%
UNITED STATES TREAS
SEC/ INT PMT BD/
912833LZ1
4,255,000
and
-
and
-
NR
and
NR
and
-
0.000%
and
-
05/15/26 M
and
-
and
-
98.32 and
98.18 and
93.99 4,183,686
and
6,299
and
4.01%
98.03 and
3.76% M
and
3.76%
0.5 and
0.0 and
0.0 and
5.9%
and
5.9%
Certificates of Deposit
security type total (category applies to all holdings below) N/A
and
N/A
and
N/A
N/A
and
N/A
and
N/A
4.061%
and
N/A
N/A
and
N/A
and
N/A
N/A
and
N/A
and
N/A
5,931,738
and
31,738
and
4.06%
N/A
and
3.77%
and
3.77%
1.6 and
-
0.1 and
8.4%
and
8.4%
STATE BANK OF INDIA
CD/ NEW YORK NY
ACT/365/ 856285V81
250,000
and
-
and
-
-
and
-
and
FDIC
4.950%
and
Fixed
12/02/25 M
and
-
and
-
99.97 and
100.00
and
100.00
249,925
and
-75
and
4.95%
100.04
and
4.30% M
and
4.30%
0.1 and
0.0 and
0.0 and
0.4%
and
0.4%
SALLIE MAE
BANK/SALT CD/ SALT
LAKE CTY UT ACT/365/
795451DG5
250,000
and
-
and
-
-
and
-
and
FDIC
4.750%
and
Fixed
12/15/25 M
and
-
and
-
100.04
and
100.00
and
100.00
250,100
and
100
and
4.75%
100.10
and
3.84% M
and
3.84%
0.1 and
0.0 and
0.0 and
0.4%
and
0.4%
BANK OF AMERICA NA
CD/ CHARLOTTE NC
ACT/365/ 06051XFE7
250,000
and
-
and
-
-
and
-
and
FDIC
4.950%
and
Fixed
01/05/26 M
and
-
and
-
100.11
and
100.00
and
100.00
250,273
and
273
and
4.95%
100.18
and
3.84% M
and
3.84%
0.2 and
0.0 and
0.0 and
0.4%
and
0.4%
ISRAEL DISCOUNT BK
OF CD/ NEW YORK NY
ACT/365/ 465076UQ8
250,000
and
-
and
-
-
and
-
and
FDIC
4.450%
and
Fixed
02/09/26 M
and
-
and
-
100.11
and
100.00
and
100.00
250,270
and
270
and
4.45%
100.16
and
3.81% M
and
3.81%
0.3 and
0.0 and
0.0 and
0.4%
and
0.4%
DOLLAR BANK FSB PA
CD/ PITTSBURGH PA
ACT/365/ 25665QDE2
250,000
and
-
and
-
-
and
-
and
FDIC
4.000%
and
Fixed
02/27/26 M
and
-
and
-
100.02
and
100.00
and
100.00
250,063
and
63 and
4.00%
100.05
and
3.81% M
and
3.81%
0.3 and
0.0 and
0.0 and
0.4%
and
0.4%
COMENITY BANK CD/ 200,000
and
-
and
2.000%
and
03/18/26 M
and
99.28 and
198,557
and
98.93 and
0.5 and
0.0 and
CITY OF MALIBU | December 01, 2025 Page 8 of 21
31 Description
Qty/Face
and
Rem Prin
and
Factor
Moody's
and
S&P
and
Enhance
Coupon
and
Cpn Type
Redemption
and
Next Call
and
Call Price
Mkt Price
and
Adj Price
and
Orig Price
Mkt Value($)
and Gain Loss ($)
and
Purch Yld
Yld Price
and
YTWand
YTM
Duration
and
Convexity
Dur Cont
and
% Fxd Inc
and
% Port
WILMINGTON DE
ACT/365/ 99000QQW7
-
and
-
-
and
FDIC
N/A -
and
-
100.00
and
100.00
-1,443
and
2.00%
4.34% M
and
4.34%
0.0 and
0.3%
and
0.3%
SYNCHRONY BANK
CD/ DRAPER UT
ACT/365/ 87165HX21
250,000
and
-
and
-
-
and
-
and
FDIC
5.000%
and
Fixed
03/24/26 M
and
-
and
-
100.34
and
100.00
and
100.00
250,858
and
858
and
5.00%
100.46
and
3.77% M
and
3.77%
0.4 and
0.0 and
0.0 and
0.4%
and
0.4%
BARCLAYS
BANK/DELAWAR CD/
WILMINGTON DE
ACT/365/ 06740KSW8
250,000
and
-
and
-
-
and
-
and
FDIC
4.000%
and
Fixed
08/28/26 M
and
-
and
-
100.10
and
100.00
and
100.00
250,248
and
248
and
4.00%
100.21
and
3.73% M
and
3.73%
0.8 and
0.0 and
0.0 and
0.4%
and
0.4%
TEXAS EXCHANGE BK
SSB CD/ CROWLEY TX
ACT/365/ 88241TMC1
250,000
and
-
and
-
-
and
-
and
FDIC
1.100%
and
Fixed
10/29/26 M
and
12/29/25 P
and
100.00
97.59 and
100.00
and
100.00
243,978
and
-6,023
and
1.10%
97.50 and
3.68% M
and
3.68%
1.0 and
0.0 and
0.0 and
0.3%
and
0.3%
DISCOVER BANK CD/
GREENWOOD DE
ACT/365/ 254673Z66
200,000
and
-
and
-
-
and
-
and
FDIC
4.950%
and
Fixed
11/16/26 M
and
-
and
-
101.16
and
100.00
and
100.00
202,326
and
2,326
and
4.95%
101.32
and
3.64% M
and
3.64%
1.0 and
0.0 and
0.0 and
0.3%
and
0.3%
UBS BANK USA CD/
SALT LAKE CTY UT
ACT/365/ 90348JX96
250,000
and
-
and
-
-
and
-
and
FDIC
1.150%
and
Fixed
12/08/26 M
and
-
and
-
97.38 and
100.00
and
100.00
243,458
and
-6,543
and
1.15%
97.29 and
3.68% M
and
3.68%
1.1 and
0.0 and
0.0 and
0.3%
and
0.3%
CALPRIVATE BANK CD/
LA JOLLA CA ACT/365/
13135NCY4
250,000
and
-
and
-
-
and
-
and
FDIC
4.050%
and
Fixed
02/16/27 M
and
-
and
-
100.36
and
100.00
and
100.00
250,890
and
890
and
4.05%
100.49
and
3.65% M
and
3.65%
1.2 and
0.0 and
0.0 and
0.4%
and
0.4%
VALLEY NATL BK
WAYNE CD/ WAYNE NJ
ACT/365/ 919853KW0
250,000
and
-
and
-
-
and
-
and
FDIC
4.600%
and
Fixed
03/11/27 M
and
-
and
-
101.05
and
100.00
and
100.00
252,625
and
2,625
and
4.60%
101.22
and
3.66% M
and
3.66%
1.3 and
0.0 and
0.0 and
0.4%
and
0.4%
BRADESCO BANK CD/
CORAL GABLES FL
ACT/365/ 10421AAT4
250,000
and
-
and
-
-
and
-
and
FDIC
4.500%
and
Fixed
03/22/27 M
and
-
and
-
100.96
and
100.00
and
100.00
252,403
and
2,403
and
4.50%
101.13
and
3.65% M
and
3.65%
1.3 and
0.0 and
0.0 and
0.4%
and
0.4%
BNY MELLON NA CD/
NEW YORK NY
ACT/365/ 05584CP59
250,000
and
-
and
-
-
and
-
and
FDIC
4.600%
and
Fixed
06/01/27 M
and
-
and
-
101.22
and
100.00
and
100.00
253,050
and
3,050
and
4.60%
101.39
and
3.68% M
and
3.68%
1.5 and
0.0 and
0.0 and
0.4%
and
0.4%
CITY OF MALIBU | December 01, 2025 Page 9 of 21
32 Description
Qty/Face
and
Rem Prin
and
Factor
Moody's
and
S&P
and
Enhance
Coupon
and
Cpn Type
Redemption
and
Next Call
and
Call Price
Mkt Price
and
Adj Price
and
Orig Price
Mkt Value($)
and Gain Loss ($)
and
Purch Yld
Yld Price
and
YTWand
YTM
Duration
and
Convexity
Dur Cont
and
% Fxd Inc
and
% Port
EAGLEMARK SVGS BK
CD/ CARSON CTY NV
ACT/365/ 27004PFE8
250,000
and
-
and
-
-
and
-
and
FDIC
4.700%
and
Fixed
07/02/27 M
and
-
and
-
101.44
and
100.00
and
100.00
253,608
and
3,608
and
4.70%
101.62
and
3.68% M
and
3.68%
1.6 and
0.0 and
0.0 and
0.4%
and
0.4%
CELTIC BANK CD/ SALT
LAKE CTY UT ACT/365/
15118RTH0
250,000
and
-
and
-
-
and
-
and
FDIC
2.000%
and
Fixed
12/27/27 M
and
-
and
-
96.56 and
100.00
and
100.00
241,398
and
-8,603
and
2.00%
96.52 and
3.69% M
and
3.69%
2.1 and
0.0 and
0.0 and
0.3%
and
0.3%
AMERANT BANK NA
CD/ CORAL GABLES FL
ACT/365/ 02357QCL9
250,000
and
-
and
-
-
and
-
and
FDIC
4.050%
and
Fixed
03/28/28 M
and
-
and
-
100.71
and
100.00
and
100.00
251,770
and
1,770
and
4.05%
100.82
and
3.69% M
and
3.69%
2.3 and
0.1 and
0.0 and
0.4%
and
0.4%
UNIVEST BANK & TR
CO CD/ SOUDERTON
PA ACT/365/
91527PCP0
250,000
and
-
and
-
-
and
-
and
FDIC
4.300%
and
Fixed
02/28/29 M
and
-
and
-
101.67
and
100.00
and
100.00
254,178
and
4,178
and
4.30%
101.81
and
3.72% M
and
3.72%
3.1 and
0.1 and
0.0 and
0.4%
and
0.4%
BEAL BANK - PLANO
TX CD/ PLANO TX
ACT/365/ 07371BVU2
250,000
and
-
and
-
-
and
-
and
FDIC
4.700%
and
Fixed
05/30/29 M
and
-
and
-
102.99
and
100.00
and
100.00
257,475
and
7,475
and
4.70%
103.21
and
3.73% M
and
3.73%
3.2 and
0.1 and
0.0 and
0.4%
and
0.4%
BEAL BANK USA CD/
LAS VEGAS NV
ACT/365/ 07371DR66
250,000
and
-
and
-
-
and
-
and
FDIC
4.700%
and
Fixed
05/30/29 M
and
-
and
-
102.99
and
100.00
and
100.00
257,475
and
7,475
and
4.70%
103.21
and
3.73% M
and
3.73%
3.2 and
0.1 and
0.0 and
0.4%
and
0.4%
MORGAN STANLEY
PVT BK CD/ PURCHASE
NY ACT/365/
61768E4J9
250,000
and
-
and
-
-
and
-
and
FDIC
4.650%
and
Fixed
05/30/29 M
and
-
and
-
102.79
and
100.00
and
100.00
256,985
and
6,985
and
4.65%
103.01
and
3.74% M
and
3.74%
3.2 and
0.1 and
0.0 and
0.4%
and
0.4%
TOYOTA FINL SGS BK
CD/ HENDERSON NV
ACT/365/ 89235MPR6
250,000
and
-
and
-
-
and
-
and
FDIC
4.500%
and
Fixed
06/28/29 M
and
-
and
-
102.34
and
100.00
and
100.00
255,855
and
5,855
and
4.50%
102.56
and
3.74% M
and
3.74%
3.3 and
0.1 and
0.0 and
0.4%
and
0.4%
MORGAN STANLEY BK
NA CD/ SALT LAKE CTY
UT ACT/365/
61690DS33
250,000
and
-
and
-
-
and
-
and
FDIC
4.250%
and
Fixed
02/26/30 M
and
-
and
-
101.59
and
100.00
and
100.00
253,975
and
3,975
and
4.25%
101.94
and
3.76% M
and
3.76%
3.9 and
0.2 and
0.0 and
0.4%
and
0.4%
Fixed income statistics N/A
and
N/A
and
2.372%
and
N/A
and
N/A
and
70,348,551
and
N/A
and
2.3 and
2.3 and
CITY OF MALIBU | December 01, 2025 Page 10 of 21
33 Description
Qty/Face
and
Rem Prin
and
Factor
Moody's
and
S&P
and
Enhance
Coupon
and
Cpn Type
Redemption
and
Next Call
and
Call Price
Mkt Price
and
Adj Price
and
Orig Price
Mkt Value($)
and Gain Loss ($)
and
Purch Yld
Yld Price
and
YTWand
YTM
Duration
and
Convexity
Dur Cont
and
% Fxd Inc
and
% Port
total N/A
and
N/A
N/A
and
N/A
N/A N/A
and
N/A
N/A
and
N/A
1,601,806
and
3.89%
3.70%
and
3.70%
0.1 100.0%
and
99.8%
Total portfolio value: $70,469,675
**Indicates that this holding is insured by a credit agency but the specific insurer is unknown.
Rem Prin - Remaining Principal is the amount of principal which, as of a given date, has not yet been paid on a fixed income security (original face value multiplied by the factor).
Factor represents the portion of principal remaining on a security subject to principal prepayments (such as a mortgage-backed security). A factor of .87654321 on an original face of $100,000 would indicate that $87,654.32 in principal remained.
Enhance - Indicates that there is a form of credit enhancement such as collateralization or bond insurance which may vary in credit quality. The ratings displayed are the higher of the credit rating of the bond insurer or of the underlying credit of the issuer. Acronyms indicate insurance or type of collateral. Please see the Important Information section at the end of this report.
CDs are subject to insurance limits through FDIC.
The coupon rate is the interest rate stated on a bond, note or other fixed income security, expressed as a percentage of the principal. Adjustable rate coupon securities will be shown at the current coupon rate if known; actual coupon rates may vary. There is no assurance that coupons will be paid. Past Performance is not a guarantee of future results. Range Notes will carry a coupon of 0%.
Coupon Types: Adj (Adjustable rate), Fixed (Fixed rate), Step (Step up or down), Struct (Structured Product Securities), Zero (Zero Coupon), PIK (Payment-in-kind) Redemption is the date the security is scheduled to be redeemed. Types: M - maturity, R - refunded, T - mandatory tender/put, P - perpetual (displays date of report plus sixty years), D - Dutch auction or optional tender, A - estimated average life of prepaying securities.
Next call is the next date, prior to maturity, on which a callable security may be redeemed by the issuer. Call Price is the price, specified at issuance, at which a bond or preferred stock can be redeemed.
Call Types: C - Optional Premium Call, P - Optional Par Call.
Adjusted Price is the original price adjusted for accretion for a discount and amortization for a premium.
Purchase Yield is the yield to worst based on original price and purchase date.
Yield Price is the most recent month-end market price which is used to calculate yields, duration, convexity, etc.
YTW - Yield to Worst indicates the lowest of yields to calls or the yield to maturity, calculated at yield price and not at current market price. The Yield Code next to YTW indicates the date/price to which the yield has been calculated. Codes: C = next call, P = par call, W = middle call, R = pre-refunding, M = maturity of issue, A = estimated average life on principal paydown securities, T = next mandatory put/tender, F = called in full.
YTM (Yield to Maturity) is calculated to the redemption date based on the yield price and not on current market price.
Duration - Duration, where available, is Modified Duration. It is used to provide a measurement of price volatility. For example, a duration of 4 means that a shift in prevailing rates 100 basis points (1%) in a 1 year period should shift the price in the opposite direction by 4%. Duration will not be calculated on Structured Products or other securities for which required data is not available. Modified Duration, unlike Effective Duration, assumes cash flows do not change and does not take into account embedded call options.
Convexity - Convexity measures the speed with which the duration will change with movements in interest rates. For example, on a bond with negative convexity, the duration will shorten with falling interest rates which will reduce the impact of duration of this security on the portfolio. Convexity is reflected at both the security level and at the subtotal level for fixed income classification calculated as a weighted average.
Duration Contribution - The duration contribution is the impact of this bond's duration on the fixed income portion of the portfolio. Example, if bond has a duration of 3 and its market value is 5% of the fixed income, the duration contribution will be 0.15 (3 x .05).
For more information including fixed income analysis details, please see the Important Information section at the end of this report.
CITY OF MALIBU | December 01, 2025 Page 11 of 21
34 Redemption Distribution Rolling 12 Months
As of 11/28/2025 for XXXX7847 - CITY OF MALIBU
Redemption values are stated in thousands ($)
Description
Dec
2025
Jan
2026
Feb
2026
Mar
2026
Apr
2026
May
2026
Jun
2026
Jul
2026
Aug
2026
Sep
2026
Oct
2026
Nov
2026
Total
Principal
Government bond - - 5,551 4,000 2,000 4,255 - - 4,000 - - - 19,806 Corporate bond 500 250 500 450 - - - - 250 - 250 200 2,400 Redemption
distribution
rolling 12 months
total
500 250 6,051 4,450 2,000 4,255 - - 4,250 - 250 200 22,206 Current market value of securities with undefined redemption value: $0 Total portfolio value: $70,469,675
CITY OF MALIBU | December 01, 2025 Page 12 of 21
35 This report shows the schedule of principal payments of securities calculated as of the date of the report. Payments are not guaranteed. Unforeseen events could occur which could cause the estimated principal payments to differ from stated values. Bonds in default will not display a redemption value. The redemption value applies the redemption price to the remaining principal or the number of shares.
These schedules assume that bonds are not called. Call features may be exercised as stated elsewhere at any time. On Treasury Inflation Index securities (TIPs), we have applied the most recent Index Ratio to the redemption price. Actual redemption value will not be less than the face amount on TIPs if held to maturity. 100% Principal protected structured products (when held to maturity) will be displayed at their face amount as the redemption value.
The asset classification of Corporate Bonds includes holdings of Certificates of Deposit.
Mortgage Backed Securities display the total remaining principal on pass-through securities and collateralized mortgage obligations (CMOs), which are not represented in the table due to uncertain schedule of principal payments.
Securities with Undefined Redemption Value, such as mandatory convertible securities and structured products (other than those with 100% principal protection), do not have a defined redemption value and are not represented in the table. The market value of these securities that have a redemption date within the next 12 months is displayed beneath the table. These securities will display N/A as the redemption value in the month of their scheduled redemption. For more information, see the Important Information section at the end of this report.
CITY OF MALIBU | December 01, 2025 Page 13 of 21
36 Fixed Income Redemption Distribution: w/Holding(s)
As of 11/28/2025 for XXXX7847 - CITY OF MALIBU
Coupon subtotals and totals are weighted averages based on redemption value Redemption is the date the security is scheduled to be redeemed. These references may display in the following data table within the column, Redemption date: Types: M - maturity, R - refunded, T - mandatory tender/put, P - perpetual (displays date of report plus sixty years), D - Dutch auction or optional tender, A - estimated average life of prepaying securities.
Description
Redemption
date
Redemption
price ($) Redemption value ($) Coupon
Weighted average
coupon remaining
2025 yearly total (category applies to all holdings below)N/A N/A 500,000 4.850% 2.333% STATE BAN 4.95% 120225 (CUSIP: 856285V81) 12/02/25 M 100.00 250,000 4.950% 2.341% SALLIE MA 4.75% 121525 (CUSIP: 795451DG5) 12/15/25 M 100.00 250,000 4.750% 2.342% 2026 yearly total (category applies to all holdings below)N/A N/A 21,956,000 1.232% 2.845% BANK OF A 4.95% 010526 (CUSIP: 06051XFE7) 01/05/26 M 100.00 250,000 4.950% 2.341% ISRAEL DI 4.45% 020926 (CUSIP: 465076UQ8) 02/09/26 M 100.00 250,000 4.450% 2.343% US STRIPS 02/26 INT (CUSIP: 912833LY4) 02/15/26 M 100.00 5,551,000 0.000% 2.548% DOLLAR BANK 4% 022726 (CUSIP: 25665QDE2) 02/27/26 M 100.00 250,000 4.000% 2.345% COMENITY BANK 2% 031826 (CUSIP: 99000QQW7) 03/18/26 M 100.00 200,000 2.000% 2.351% SYNCHRONY BA 5% 032426 (CUSIP: 87165HX21) 03/24/26 M 100.00 250,000 5.000% 2.341% UST NTS 2.25% 033126 (CUSIP: 9128286L9) 03/31/26 M 100.00 4,000,000 2.250% 2.356% CITY OF MALIBU | December 01, 2025 Page 14 of 21
37 Description
Redemption
date
Redemption
price ($) Redemption value ($) Coupon
Weighted average
coupon remaining
UST NTS 3.75% 041526 (CUSIP: 91282CGV7) 04/15/26 M 100.00 2,000,000 3.750% 2.310% UST STRIP 0%5/15/26 INT (CUSIP: 912833LZ1) 05/15/26 M 100.00 4,255,000 0.000% 2.499% BARCLAYS BAN 4% 082826 (CUSIP: 06740KSW8) 08/28/26 M 100.00 250,000 4.000% 2.345% UST NTS .75% 083126 (CUSIP: 91282CCW9) 08/31/26 M 100.00 4,000,000 0.750% 2.445% TEXAS EXC 1.10% 102926 (CUSIP: 88241TMC1) 10/29/26 M 100.00 250,000 1.100% 2.355% DISCOVER 4.95% 111626 (CUSIP: 254673Z66) 11/16/26 M 100.00 200,000 4.950% 2.343% UBS BANK 1.15% 120826 (CUSIP: 90348JX96) 12/08/26 M 100.00 250,000 1.150% 2.355% 2027 yearly total (category applies to all holdings below)N/A N/A 9,639,000 2.897% 2.265% CALPRIVAT 4.05% 021627 (CUSIP: 13135NCY4) 02/16/27 M 100.00 250,000 4.050% 2.344% VALLEY NAT 4.6% 031127 (CUSIP: 919853KW0) 03/11/27 M 100.00 250,000 4.600% 2.342% BRADESCO B 4.5% 032227 (CUSIP: 10421AAT4) 03/22/27 M 100.00 250,000 4.500% 2.343% UST NTS 2.5% 033127 (CUSIP: 91282CEF4) 03/31/27 M 100.00 4,000,000 2.500% 2.341% UST NTS 2.625% 053127 (CUSIP: 91282CET4) 05/31/27 M 100.00 2,245,000 2.625% 2.341% BNY MELLON 4.6% 060127 (CUSIP: 05584CP59) 06/01/27 M 100.00 250,000 4.600% 2.342% EAGLEMARK 4.7% 070227 (CUSIP: 27004PFE8) 07/02/27 M 100.00 250,000 4.700% 2.342% UST NTS 3.125% 083127 (CUSIP: 91282CFH9) 08/31/27 M 100.00 1,894,000 3.125% 2.329% CELTIC BANK 2% 122727 (CUSIP: 15118RTH0) 12/27/27 M 100.00 250,000 2.000% 2.352% 2028 yearly total (category applies to all holdings below)N/A N/A 8,310,000 1.411% 2.474% AMERANT B 4.05% 032828 (CUSIP: 02357QCL9) 03/28/28 M 100.00 250,000 4.050% 2.344% UST NTS 1.25% 043028 (CUSIP: 91282CBZ3) 04/30/28 M 100.00 2,985,000 1.250% 2.398% UST NTS 1.375% 123128 (CUSIP: 91282CDP3) 12/31/28 M 100.00 5,075,000 1.375% 2.425% 2029 yearly total (category applies to all holdings below)N/A N/A 15,750,000 3.339% 2.071% UNIVEST BA 4.3% 022829 (CUSIP: 91527PCP0) 02/28/29 M 100.00 250,000 4.300% 2.343% UST NTS 2.875% 043029 (CUSIP: 91282CEM9) 04/30/29 M 100.00 1,565,000 2.875% 2.339% BEAL BANK 4.7% 053029 (CUSIP: 07371DR66) 05/30/29 M 100.00 250,000 4.700% 2.342% BEAL BANK 4.7% 053029 (CUSIP: 07371BVU2) 05/30/29 M 100.00 250,000 4.700% 2.342% MORGAN ST 4.65% 053029 (CUSIP: 61768E4J9) 05/30/29 M 100.00 250,000 4.650% 2.342% TOYOTA FIN 4.5% 062829 (CUSIP: 89235MPR6) 06/28/29 M 100.00 250,000 4.500% 2.343% UST NTS 2.625% 073129 (CUSIP: 91282CFC0) 07/31/29 M 100.00 5,025,000 2.625% 2.330% UST NTS 3.5% 093029 (CUSIP: 91282CLN9) 09/30/29 M 100.00 4,910,000 3.500% 2.266% UST NTS 4% 103129 (CUSIP: 91282CFT3) 10/31/29 M 100.00 3,000,000 4.000% 2.278% 2030 yearly total (category applies to all holdings below)N/A N/A 15,429,000 3.016% 2.167% UST NTS 3.5% 013130 (CUSIP: 91282CGJ4) 01/31/30 M 100.00 4,965,000 3.500% 2.265% CITY OF MALIBU | December 01, 2025 Page 15 of 21
38 Description
Redemption
date
Redemption
price ($) Redemption value ($) Coupon
Weighted average
coupon remaining
UST NTS 1.5% 021530 (CUSIP: 912828Z94) 02/15/30 M 100.00 5,350,000 1.500% 2.419% MORGAN ST 4.25% 022630 (CUSIP: 61690DS33) 02/26/30 M 100.00 250,000 4.250% 2.344% UST NTS 4.125% 083130 (CUSIP: 91282CHW4) 08/31/30 M 100.00 4,864,000 4.125% 2.221% 2031 yearly total (category applies to all holdings below)N/A N/A - - - 2032 yearly total (category applies to all holdings below)N/A N/A - - - 2033 yearly total (category applies to all holdings below)N/A N/A - - - 2034 yearly total (category applies to all holdings below)N/A N/A - - - 2035 yearly total (category applies to all holdings below)N/A N/A - - - 2036 yearly total (category applies to all holdings below)N/A N/A - - - 2037 yearly total (category applies to all holdings below)N/A N/A - - - 2038 yearly total (category applies to all holdings below)N/A N/A - - - 2039 yearly total (category applies to all holdings below)N/A N/A - - - 2040 yearly total (category applies to all holdings below)N/A N/A - - - 2041 yearly total (category applies to all holdings below)N/A N/A - - - 2042 yearly total (category applies to all holdings below)N/A N/A - - - 2043 yearly total (category applies to all holdings below)N/A N/A - - - 2044 yearly total (category applies to all holdings below)N/A N/A - - - 2045 or later
period total (category applies to all the years below)
N/A N/A 0 N/A N/A
2045 yearly total (category applies to all holdings below)N/A N/A - - - Perpetual
period total (category applies to all holdings below)
N/A N/A - - -
Fixed income redemption distribution total N/A N/A 71,584,000 2.350% 0.000% Redemption value (remaining principal) of mortgage backed securities: $0 Market value of securities with undefined redemption value: $0 This report shows the schedule of principal payments of securities calculated as of the date of the report. Payments are not guaranteed. Unforeseen events could occur which could cause the estimated principal payments to differ from stated values. Bonds in default will not display a redemption value. The redemption value applies the redemption price to the remaining principal or the number of shares.
These schedules assume that bonds are not called. Call features may be exercised as stated elsewhere at any time. On Treasury Inflation Index securities (TIPs ), we have applied the most recent Index Ratio to the redemption price. Actual redemption value will not be less than the face amount on TIPs if held to maturity. 100% Principal protected structured products (when held to maturity) will be displayed at their face amount as the redemption value.
Mortgage backed securities (MBSs) are not represented in this report as it is not possible to accurately predict principal prepayments.
Securities with undefined redemption value, such as mandatory convertible securities and structured products (other than those with 100% principal protection), do not have a defined redemption value and are not represented in the bar charts. The market value of these securities is displayed beneath the table. These securities will display N/A as the redemption value in the year of their scheduled redemption.
Redemption is the date the security is scheduled to be redeemed. Types: M - maturity, R - refunded, T - mandatory tender/put, P - perpetual (displays date of report plus sixty years), D - Dutch auction or optional tender, A - estimated average life of prepaying securities.
The coupon rate is the interest rate stated on a bond, note or other fixed income security, expressed as a percentage of the principal. Adjustable rate coupon securities will be shown at the current coupon rate if known; actual coupon rates may vary. There is no assurance that coupons will be paid. Past Performance is not a guarantee of future results. Range Notes will carry a coupon of 0%.
CITY OF MALIBU | December 01, 2025 Page 16 of 21
39 Estimated Income Summary
As of 11/28/2025 for XXXX7847 - CITY OF MALIBU
Description
Dec
2025
Jan
2026
Feb
2026
Mar
2026
Apr
2026
May
2026
Jun
2026
Jul
2026
Aug
2026
Sep
2026
Oct
2026
Nov
2026
Annualized
Estimated
income ($)
Tax exempt accounts total 66,922 167,522 208,475 205,745 140,833 47,996 54,398 160,788 197,508 154,677 103,274 48,028 1,556,165 Taxable
income type total(category applies to security types below) 32,031 14,681 23,436 24,820 2,179 18,530 19,507 7,948 12,469 18,752 2,121 18,563 195,038 Corporate bond 31,667 14,317 23,072 24,456 1,815 18,166 19,143 7,584 12,105 18,388 1,757 18,199 190,669 Money market fund 364 364 364 364 364 364 364 364 364 364 364 364 4,369 Federal
income type total(category applies to security types below) 34,891 152,841 185,039 180,925 138,653 29,466 34,891 152,841 185,039 135,925 101,153 29,466 1,361,128 Government bond 34,891 152,841 185,039 180,925 138,653 29,466 34,891 152,841 185,039 135,925 101,153 29,466 1,361,128 Unassigned total N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Not available
income type total(category applies to security types below)
N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A
Cash alternative N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A Estimated income total 66,922 167,522 208,475 205,745 140,833 47,996 54,398 160,788 197,508 154,677 103,274 48,028 1,556,165 CITY OF MALIBU | December 01, 2025 Page 17 of 21
40 Total Portfolio Value: $70,469,675
This report is not a substitute for official tax reporting. This report separates the holdings, first based on the taxability at the account level. The secondary aggregation is Tax Type which is used to aggregate securities based on their assumed taxability of income (interest and dividends) at the time of this report. Classifications are made by data sources we deem reliable; however, we do not guarantee the accuracy of these classifications. Most securities are subject to capital gains taxes and some may be considered in calculations for Alternative Minimum Tax (AMT) that are not so designated here. This report does not attempt to portray phantom income (income accreted or accrued but not paid) on discount or zero coupon securities. You should consult with your tax advisor regarding the taxability of your holdings.
The following tax type classifications may be included in this report: AMT - subject to Alternative Minimum Tax; Dividend - taxable as dividend income; Federal - income taxable by federal government (state and local income taxes may not apply); Non-Federal - income non-taxable by federal government but may be subject to state and local taxes; Taxable - income taxable by federal, state and local taxes; and Not Available - taxability undetermined.
Estimated Income Annualized (EIA) takes your current income, based on the current dividends or interest paid by your securities and multiplies it to create an annualized hypothetical figure. It does not reflect actual or future performance and should not be relied upon when making financial decisions. All annualizations are based upon current positions using a simple mathematical calculation and assumes all figures remain constant for a year; any subsequent position changes will affect these calculations. Calculations for certain types of securities could include a return of principal or capital gain, in which case the figures would be overstated. Past performance is not a guarantee of future results. Dividend payments are made solely at the discretion of the issuer and are subject to be changed or eliminated at any time. Estimated Income is an estimate and the actual income might be lower or higher than the estimated amount. Estimated Income only the income generated by an investment. It does not reflect changes in price, which may fluctuate.
CITY OF MALIBU | December 01, 2025 Page 18 of 21
41 Important Information
Accounts Included:
These references may display in the following internal or external account lists, as applicable, at the end of the account number: Use of the "P" footnote will indicate it is included in the performance information within the report, Use of the "E" footnote will indicate it is included in your eMoney plan summary, use of the "A" footnote will indicate an account aggregated within the report.
Internal Accounts
XXXX7847 P CITY OF MALIBU
P Indicates an account included in the performance information within the report.
This Account listing represents a portfolio of assets and/or liabilities owned by you based on our records of transactions processed through us or supplemental information supplied by you. The information contained in this report may not reflect all holdings or transactions, their costs, or proceeds in your household. We rely on you to review the accuracy and completeness of your externally held account information, and to notify your advisor if any updates are needed. Any assets and liabilities you currently hold away from our Firm may not be covered by SIPC.
Transactions requiring tax consideration should be reviewed carefully with your accountant or tax advisor. Unless otherwise indicated, market prices are only indications of market values, are subject to change, and may not reflect the value at which securities could be sold.
This report is not the official record of your account. However, it has been prepared to assist you with your investment planning and is for informational purposes only. Your account statements and/or trade confirms are considered the official and accurate records of your account activity. Therefore, if there are any discrepancies between this report and your statements and/or trade confirms, you should rely on your statements and/or trade confirms.
For a complete list of accounts used in this report or if you have more questions related to this report, please contact your advisor.
Certain assets are excluded from performance calculations. Selected annuities, certain types of direct investments, mutual funds held outside the firm, precious metals, coins, bullion, or any assets subject to taxwithholdings (TEFRA) are among the assets not included in values or performance calculations.
For performance market values, we include account accruals in the calculations. Accruals are accumulated interest or income that your individually held assets have earned over time but have not been recorded or paid out yet. Because you are legally entitled to receive this interest and income as the holder of the assets, we factor these accruals as part of the assets' appreciation value. For non-performance market values, we do not include accruals as part of the calculation.
Where your account holds alternative investments, the alternative investment valuations used to calculate the investment performance presented in this report are based on valuation reporting we receive from fund sponsors. In certain instances, the most recent valuations provided by fund sponsors may be delayed by as much as six months or more and may not reflect distributions made over the prior six-plus months. As a result, the performance returns shown may be based on stale valuations and may be higher or lower than performance returns based on current valuations.
As such, if you own alternative investments, the account level and alternatives performance presented in this report may not reflect the current value of your holdings. Please refer to the statement provided by the applicable alternative fund sponsor for the most up-to-date valuation of holdings.
A portion of the financial data used to generate this report may be provided to Wells Fargo Advisors by third-party vendors. While this third-party information is believed to be reliable, it has not been verified.
Asset Classification
Asset Classes for mutual funds, variable annuities and exchange-traded funds are derived from Morningstar Categories. Underlying holdings classification provided by Morningstar. ©2025 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely.
Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Asset classification of holdings in external accounts where classification is CITY OF MALIBU | December 01, 2025 Page 19 of 21
42 not readily available may be assigned to a multi-asset class category or reassigned into additional asset classes by your Financial Advisor which may not be the most accurate asset class based on the holding's characteristics and risk profile. It is your responsibility to review the asset classification for external accounts and notify us of any changes.
Account Return Methodology
Account returns are annualized for time periods greater than one year. Past performance is no guarantee of future results.
Net Time Weighted rates of return are independent of the timing and magnitude of your cash flow decisions and are calculated after the deduction of program fees. Each return period is given an equal weighting, regardless of the portfolio value. Gross Time Weighted rates of return are independent of the timing and magnitude of your cash flow decisions and are calculated before the deduction of all fees. Each return period is given an equal weighing, regardless of the portfolio value.
Money Weighted rates of return reflect your decisions to deposit assets to or withdraw assets from your accounts and are calculated after the deduction of all fees. They give more weight to returns in periods with higher portfolio values and, as a result, should not be used to measure performance of an investment manager.
Fixed Income Securities (Bonds)
Investments in fixed-income securities are subject to market, interest rate, credit/default, inflation and other risks. Bond prices fluctuate inversely to changes in interest rates. Therefore, a general rise in interest rates can result in the decline in the bond's price. Lower rated securities are speculative and involve greater risk of default.
YTW: Yield to worst is the lowest of all yields to calls or the yield to maturity. Yield to maturity is the yield that would be realized on a fixed income security if it were held to the maturity date. Yield at purchase is calculated based on the purchase date and price of each position (if available) and represents the yield to worst at the time of purchase. At the subtotal and total levels, yields are weighted averages for that grouping.
Duration, if available, is option adjusted duration and is used to provide a measurement of price volatility. For example, a duration of 4 means that a shift in prevailing rates 100 basis points (1%) in a 1 year period should shift the price in the opposite direction by 4%. Duration will not be calculated on Structured Products or other securities for which required data is not available. Modified Duration, unlike Effective Duration, assumes cash flows do not change and does not take into account embedded call options.
YTM: Yield to Maturity is calculated to the redemption date based on the yield price and not on current market price.
Yield at purchase is the yield to worst based on original price and purchase date.
Weighted avg coupon: Weighted average coupon at the subtotal and total levels is the weighted average coupon that has been calculated based on the market value of the securities within that grouping.
Weighted avg maturity: Weighted average maturity is a measure of the overall maturity of the fixed income securities in a portfolio. The higher the weighted average maturity the longer it takes for all these securities in the portfolio to mature.
Term: Short-term bonds have effective maturities of five years or less, intermediate bonds have effective maturities between five and ten years; and long-term bonds have maturities of ten years or longer. Income from tax exempt bonds is generally free from federal and state taxes for residents of the issuing state. While the interest income is tax-free, capital gains if any are subject to taxes. Income of certain tax-exempt bonds may be subject to the Federal Alternative Minimum Tax (AMT).
Credit Quality Ratings: Bond rating firms, such as Moody’s and Standard & Poor's, use different designations consisting of upper- and lower-case letters 'A' and 'B' to identify a bond's credit quality rating. 'AAA' and 'AA' (high credit quality) and 'A' and 'BBB' (medium credit quality) are considered investment grade. Credit ratings for bonds below these designations ('BB', 'B', 'CCC', etc.) are considered low credit quality, and are commonly referred to as junk bonds.
Fixed Income Analysis
CITY OF MALIBU | December 01, 2025 Page 20 of 21
43 All yields, durations and convexities are calculated at the 'Yield Price' listed on the report. The calculations are updated approximately once per month.
Should there be significant changes in interest rates we will update the calculations more frequently.
Enhancements used for this analysis may include Bond Insurance, Federal Deposit Insurance Corporation (FDIC) and escrowed collateral on refunded bonds (typically in US Government securities). The terms of enhancements vary and assumptions cannot be made as to specific issuers or issues. This report is not meant to indicate that 'non-enhanced' securities are of lesser credit quality than those with secondary credit enhancement. Insurance pertains to the timely payment of principal and interest by the issuer of the underlying securities and not the price of the bond, which will fluctuate prior to maturity.
Types of enhancements may include but are not limited to:
Pre-ref - Indicates that the security has been pre-refunded, is collateralized (typically in US Government Securities) and is scheduled to be redeemed at the stated redemption date.
ETM - Indicates that the security has been escrowed to maturity (collateralized, typically in U.S. Government securities).
FDIC - Federal Deposit Insurance Corporation
MBIA - Municipal Bond Insurance Association
FGIC - Financial Guaranty Insurance Company
AMBAC - American Municipal Bond Assurance Corporation
Assured Gty. - Assured Guaranty Corp.
BHAC - Berkshire Hathaway Assurance
AGM(f.FSA) - Assured Guaranty Municipal Corp.
AGC - Assured Guaranty Corp.
NATL-RE(f.MBIA) - National Public Finance Guaranty Corp. (MBIA's public finance subsidiary)
Syncora(f.XLCA) - Syncora Guarantee (Formerly XL Capital Assurance) PSF - Permanent School Fund
BAM - Build America Mutual Assurance Corp.
Q-SBLF - Qualified School Bond Loan Fund
ACA - ACA Financial Guaranty Corp.
FHA - Federal Housing Administration
FHLMC - Federal Home Loan Mortgage Corp.
FNMA - Federal National Mortgage Association
GNMA - Government National Mortgage Association
SECT8 - Section 8
CITY OF MALIBU | December 01, 2025 Page 21 of 21
44
Agenda Item # 1.B.8.
Council Agenda Report
To: Mayor Riggins and the Honorable Members of the City Council Prepared by: Renée Neermann, Financial Controller
Reviewed by: Christopher Smith, Interim Assistant City Manager Approved by: Rob DuBoux, Interim City Manager
Date prepared: December 1, 2025 Meeting date: January 26, 2026 Subject: Professional Services Agreement Amendment No. 3 with Quinto Consulting, LP for City Treasurer Services and Request for Proposals RECOMMENDED ACTION: 1) Authorize the Mayor to execute Amendment No. 3 to the Professional Services Agreement with Quinto Consulting, LP for City Treasurer services to extend the term of the agreement; 2) Direct the City Manager to develop and issue a request for proposals (RFP) for future City Treasurer services; and 3) Assign the Administration and Finance Subcommittee to review the proposals, conduct interviews, and make a recommendation to City Council regarding the selection of City Treasurer.
FISCAL IMPACT: No additional appropriation is required. Funding for this agreement/project is included in the Adopted Budget for FY 2025-26 in Account No. 100- 7054-5100-01 (Finance Division Professional Services – City Treasurer).
STRATEGIC PLAN IMPLEMENTATION: This item is part of the day-to-day operations identified in the Proposed FY 2024-25 Strategic Priority Project List. Staff continue to work on ongoing projects and normal business while the FY 2025-26 Strategic Priority Plan is finalized.
DISCUSSION: Section 2.16.010 of the Malibu Municipal Code (MMC) states, in part, that “the City Council shall appoint a City Treasurer who shall be responsible for the safe deposit of all moneys in the custody of the City and shall perform all the duties prescribed by law and as may be assigned by City Council.”
In 2020, the City initiated a Request for Proposals (RFP) process to identify a consultant to assume the City Treasurer functions as outlined in the MMC. The City published the City Council Meeting
01-26-26
Item
1.B.8.
1
Agenda Item # 1.B.8.
RFP on June 17, 2020, with a deadline of July 15, 2020. Due to the lack of response, the City extended the deadline twice to August 6 and September 18 of 2020. The City received one proposal from Quinto Consulting, LP. After reviewing the proposal and qualifications of Ruth F. Quinto, the City initiated a two-year agreement through November 9, 2022. The City was satisfied with the services provided, and on November 14, 2022, the City approved Amendment 1, which extended the term for two years, to November 13, 2024.
On November 12, 2024, the City approved Amendment 2, which extended the term one year, to November 13, 2025, and Council directed staff to develop and issue an RFP for City Treasurer services.
Owing to higher-priority operational demands resulting from the Palisades Fire, staff was unable to proceed with a Request for Proposals as originally intended. Therefore, the City seeks to extend the term of the agreement through the end of FY 2025-26, to June 30, 2026, allowing staff sufficient time to conduct an RFP and ensure a competitive process.
ATTACHMENTS: Professional Services Agreement Amendment No. 3 – Quinto Consulting, LP
2 AMENDMENT NO. 3 TO AGREEMENT
THIS AMENDMENT NO. 3 TO AGREEMENT is made and entered into on January 12, 2026, by and between the CITY OF MALIBU, a municipal corporation, hereinafter referred to as City , and Quinto Consulting, LP, a California Limited Partnership, hereinafter referred to as Consultant . The City and the Consultant agree as follows:
R E C I T A L S
A. On November 10, 2020, the City entered into an Agreement with Consultant for City Treasurer Services ).
B. On November 14, 2022, the City amended the Agreement with Consultant to modify the Scope of Services, extend the term to November 13, 2024, and modify the Compensation for Services.
C. On November 12, 2024, the City amended the Agreement to extend the term to November 13, 2025.
D. The Parties desire to amend the Agreement to extend the term to June 30, 2026, and Consultant has submitted a proposal for this purpose that is acceptable to the City.
NOW THEREFORE, in consideration of their mutual promises, obligations and covenants hereinafter contained, the Parties hereto agree as follows:
1. Section 2.0 Term of Agreement, of the Agreement, is hereby extended to June 30, 2026.
2. The Parties agree that this Amendment No. 3 will be considered signed when the signature of a party is delivered physically or by facsimile transmission or scanned and delivered via electronic mail. Such facsimile or electronic mail copies will be treated in all respects as having the same effect as an original signature.
3. All terms and conditions of the Agreement not amended by this Amendment No. 3 remain in full force and effect.
This Amendment No. 3 is executed on January 12, 2026, at Malibu, California, and effective as of November 14, 2025.
CITY OF MALIBU: ____________________________________ MARIANNE RIGGINS, Mayor ATTEST: ____________________________________ KELSEY PETTIJOHN, City Clerk (seal)
APPROVED AS TO FORM: Quinto Consulting, LP,
a California Limited Partnership _____________________________________ ____________________________________ TREVOR RUSIN, Interim City Attorney By: RUTH F. QUINTO Title: General Partner
3
Agenda Item # 6.A.
Council Agenda Report
To: Mayor Riggins and the Honorable Members of the City Council Prepared by: Cynthia Alba, Senior Management Analyst
Reviewed by: Richard Rojas, Deputy City Manager
Approved by: Rob DuBoux, Acting City Manager
Date prepared: November 19, 2025 Meeting date: January 26, 2026 Subject: Receive and File Update on Malibu’s Community Lands (Continued from December 8, 2025)
RECOMMENDED ACTION: Receive and file an update on Malibu’s Community Lands, and provide direction to staff as appropriate.
FISCAL IMPACT: There is no fiscal impact associated with the recommended action.
STRATEGIC PLAN IMPLEMENTATION: This item supports the City’s 2025 Strategic Plan Goal 7: Explore New Opportunities for Educational, Cultural and Recreational Establishments
DISCUSSION: The Malibu Community Lands Project was established to determine the most appropriate use of 61 acres of city-owned vacant land. This community driven initiative has engaged residents through a variety of outreach methods to ensure the project aligns with Malibu’s vision and mission statement. On February 12, 2024, the City of Malibu entered into an agreement with Tripepi Smith & Associates, for Community Outreach and Engagement Consulting for City Owned Vacant Lots.
On October 28, 2024 the City Council received and filed the Community Lands Outreach and Engagement Report. Based on the input received throughout the program, the City Council authorized staff to begin a phased approach for developing the lands, prioritizing community needs. Per City Council recommendation, the approved next steps include:
City Council Meeting
1-26-26
Item
6.A.
Agenda Item # 6.A.
Heathercliff and Ioki (Chili Cook-Off Lot) Lots: The City will explore options for new soccer, baseball and softball fields as well as a multigenerational community center, including a pool, gymnasium, senior center and expanded library services. Triangle and Trancas lots: The Council has not set direction for these lands at this time.
La Paz Lot: The Council tasked staff and the Malibu Arts Commission in preparing a draft design recommendation of the La Paz Performing Arts Center in partnership with Cross Creek Ranch Malibu, LLC not to exceed $10,000 in planning services.
As part of this item, staff will present current updates and the status of each of the Community Lands sites, outlining progress made since Council’s previous direction.
ATTACHMENTS: None.
Agenda Item # 7.A.
Council Agenda Report
To: Mayor Riggins and the Honorable Members of the City Council Prepared by: Julie Santia, Associate Engineer
Reviewed by: Tatiana Holden, Assistant Public Works Director/City Engineer Approved by: Rob DuBoux, Interim City Manager
Date prepared: January 8, 2026 Meeting date: January 26, 2026 Subject: Rejection of Bids for the Malibu Community Labor Exchange Center Project
RECOMMENDED ACTION: 1) Reject all bids received for the Malibu Community Labor Exchange Center Project, Specification No. 2103; and 2) Provide direction to staff on how to proceed.
FISCAL IMPACT: Funding for this project is included in the Adopted Budget for FY 2025- 26 in Account No. 310-9065-5100 (Malibu Community Labor Exchange Trailer).
Project Estimate Project Funding*
Design $195,885 General Fund
CIP Designated Reserve
$759,518
Construction $1,512,451 Community Development
Block Grant (CDBG)
$140,482
Contingency (18%) $272,241.18
Total $1,980,577.18 Total $900,000
**Project Estimate amounts include Design costs that were spent over multiple fiscal years ($173,385). *Project Funding amounts were obtained by the Adopted Budget for FY2025-26.
The project funding included in the Adopted Budget for FY 2025-26 is $900,000. The balance of design is $22,500 and construction costs are $1,784,692.18 leaving a shortfall of $907,192.18. It is necessary to appropriate $907,192.18 to this project from the General Fund Undesignated Reserve if this project moved forward.
City Council Meeting
01-26-26
Item
7.A.
1
Agenda Item # 7.A.
Over multiple fiscal years, the City Council approved the City’s annual allocation of federal CDBG capital funding to purchase and install a permanent office trailer for the Malibu Community Labor Exchange (MCLE). In May 2025, following recent natural disasters, the City requested and received a time extension from the Los Angeles County Development Authority to extend the deadline to complete the construction of the project to June 30, 2026.
STRATEGIC PLAN IMPLEMENTATION: This item supports the City’s 2025-2028 Strategic Plan: Goal 7: Explore New Opportunities for Educational, Cultural, and Recreational Establishments.
DISCUSSION: This project includes the construction of a new office building to replace the existing trailer for the Malibu Community Labor Exchange (MCLE). MCLE is a local 501(c)3 non-profit organization that has operated in the City of Malibu for over 30 years.
The primary function of MCLE is to provide an organized and safe place for people to hire and be hired for day labor.
This project includes constructing a new 719 square feet office building to house the MCLE Center. The location of the new office building is adjacent to its current site at the northwest corner of the institutionally zoned parcel containing the Santa Monica College Malibu Satellite Campus, Los Angeles County Waterworks, the public library and courthouse. The area dedicated to MCLE is 7,100 square feet.
The original plan was to provide a prefabricated modular building. During the CDP process, it became evident that a permanent foundation would be required, and the scope shifted to constructing a structure with a small bathroom to replace the current portable restroom. The site work includes a new trash enclosure, utility connections for sewer, electrical, potable water and recycled water, rolling gates, modest decorative landscaping, repaving and striping of the existing paved area. This project will include Americans with Disabilities Act (ADA) compliance. The existing trailer, portable restroom, and one overhead streetlight will be removed upon completion of the new center.
This project is the result of extensive discussions, planning, and design efforts over the several years including the recent City Council adoption of Resolution 25-60 approving the modified Floor Area Ratio on December 8, 2025, and Planning Commission approval of the Coastal Development Permit (CDP) No. 23-053 and Conditional Use Permit (CUP) No. 23-005 on September 15, 2025.
The project plans and specifications for the Malibu Labor Exchange Center Project were completed and advertised for construction bids in November 2025. On December 18, 2025, the City received seven (7) construction bids. The following is a summary of the construction bids:
2
Agenda Item # 7.A.
Contractor Bid Amount
Shiraz Construction $1,388,888
Amerivet Contracting $1,512,451
Monet Construction $1,572,959
SBS Corporation $1,653,437
Ardalan Construction $1,981,499
Waisman Construction $2,243,141
Green Building Corporation $3,400,601
The bid from Shiraz Construction was non-responsive by not acknowledging Addendum No. 2, therefore the apparent low bidder was Amerivet Contracting. Staff reviewed the bid from Amerivet Contracting and has determined the bid was in order and in conformance with the bid requirements. However, staff also reviewed the available budget for this project. The bid received from Amerivet Contracting exceeds the available budget by more than $640,000.
Staff recommends that City Council reject all bids and provide direction to staff on how to proceed.
ALTERNATIVES:
City Council can direct staff to proceed with one of the following:
Alternative Option 1
Reject bids and cancel the project. By rejecting all bids and cancelling the project, the City must return any CDBG funding used as part of the permanent trailer project since the project was not completed by June 30, 2026.
Alternative Option 2
Reject bids and direct staff to re-design the project. There is no impact to the approved permits for this project if Council selects this option. However, staff will need to identify additional funding sources. CDBG funds already allocated for this project will not be eligible as they expire on June 30, 2026. If the City would like to use future CDBG funds, staff can follow the Los Angeles County Department Authority process including adopting a resolution.
Alternative Option 3
A.) Reject Shiraz Construction bid deeming it non-responsive; B.) Authorize the Mayor to execute an agreement with Amerivet Contracting in the amount of $1,512,451 for the construction of the Malibu Community Labor Exchange Center project, Specification No. 2103; C.) Authorize the Public Works Director to approve any potential change orders up to 18% D.) appropriate $907,192.18 from the General Fund Undesignated Reserve.
3
Agenda Item # 7.A.
If the City Council moves forward with this option, it will be bypassing Council Policy #44 that requires all proposed appropriations over $10,000 to be reviewed and discussed by Administrative and Finance (A&F) Subcommittee prior to being presented to the City Council. The construction of this project must be completed no later than June 30, 2026, to be in compliance with CDBG guidelines. It is the opinion of staff that it is not possible to complete this project by the June 30th deadline.
ATTACHMENTS: None
4