Agenda — Finance Committee, March 17, 2025

AGENDA

FINANCE COMMITTEE

SPECIAL MEETING NOTICE
MARCH 17, 2025
PUBLIC MEETING 3:30 P.M.

M
embers
Victor M. Gordo, Mayor
Tyron Hampton, District 1
Rick Cole, District 2
Gene Masuda, District 4
S
TAFF
Matthew Hawkesworth, Director of Finance
Arnold Lee, Chief Assistant City Attorney
Gloria Acevedo, Recording Secretary
M

ISSION STATEMENT
The City of Pasadena is dedicated to delivering exemplary municipal services, responsive to our entire community and consistent
with our history, culture, and unique character.

I
n compliance with the Americans with Disabilities Act of 1990, Assistive Listening Devices are available from the City Clerk’s Office with a 24-hour advance notice.

Please call (626) 744-4124 to request use of a listening device.

Lang
uage translation services are available for this meeting by calling (626)744-4124 at least 24 hours in advance.

Habrá servicio de interpretación disponible para éstas juntas llamando al (626)744-4124 por lo menos con 24 horas de anticipación.

Meet
ings are broadcast live on cable Channel 3 and on the Internet at http://pasadena.granicus.com/mediaplayer.php?camera_id=2&publish_id=9 an d https://www.pasadenamedia.org/watch/ (Click on Video Streamlining on the right side of the screen).

I
tems on the agenda may not be called in order listed. Agendas and supporting documents are available on the Internet at
https://www.cityofpasadena.net/commissions/city-council-finance-committee/ Mat
erials related to an item on this Agenda submitted to the Finance/Audit Committee after distribution of the agenda packet will be posted online and listed as: “Supplemental Agenda Material Received after the Posting of the agenda”

PUBLIC COMMENT AT THE SPECIAL FINANCE COMMITTEE MEETING FOR MARCH 17, 2025, AT 3:30 P.M. WILL BE ACCEPTED IN-PERSON AND BY VIDEOCONFERENCE/TELECONFERENCE.

Li
nk to City Meeting Policy:
cityofpasadena.net/CityCouncilMeetingPolicy
T
O VIEW A LIVE STREAM OF THE MEETING:
ht
tp://pasadena.granicus.com/MediaPlayer.php?publish_id=9 AND
WWW.

PASADENAMEDIA.ORG
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SPECIAL MEETING
AGENDA

FINANCE COMMITTEE
MARCH 17, 2025

Public Meeting: 3:30 P.M.

Council Chamber, Pasadena City Hall
100 North Garfield Avenue, Room S249

PUBLIC MEETING – 3:30 P.M.

ROLL CALL

PUBLIC COMMENT – LIMITED TO ITEMS ON THIS SPECIAL MEETING

AGENDA AND WILL BE HEARD AT THE TIME THE ITEM IS CONSIDERED

APPROVAL OF MINUTES

February 24, 2025 Regular Meeting

NEW BUSINESS

1. AMEND THE HOUSING DEPARTMENT’S FISCAL YEAR 2025 OPERATING

BUDGET BY RECOGNIZING REVENUE AND APPROPRIATING
$2,418,575.85 OF STATE AND COUNTY GRANT FUNDS FOR HOMELESS

SERVICES

2. AUTHORIZE THE CITY MANAGER TO ENTER INTO A CONTRACT WITH THE FOOTHILL UNITY CENTER, INC. TO RECEIVE HELPING JUSTICE-INVOLVED REENTER EMPLOYMENT (H.I.R.E) GRANT FUNDS AND TO SUB-AWARD A

PORTION OF THE AWARDED GRANT FUNDS TO THE FLINTRIDGE CENTER

AND AMEND THE BUDGET TO ACCEPT AND SPEND THE GRANT FUNDS

3. JOINT ACTION BETWEEN THE CITY AND THE PASADENA PUBLIC FINANCING AUTHORITY: APPROVE EXTENSION OF BANK OF AMERICA LETTER OF

CREDIT RELATED TO THE VARIABLE RATE DEMAND REFUNDING
CERTIFICATES OF PARTICIPATION SERIES, 2008A (CONFERENCE CENTER

PROJECT)

4. QUARTERLY INVESTMENT REPORT - QUARTER ENDING DECEMBER 31, 2024

INFORMATION ONLY

5. LIBRARY GENERAL OBLIGATION BONDS UPDATE

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2 6. ROSE BOWL OPERATING COMPANY FINANCIAL UPDATE

ADJOURN

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APPROV

AL OF MINUTES
 February 24, 2025 Regular Meeting

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01 02/24/25 Finance Committee

CITY OF PASADENA

FINANCE COMMITTEE MINUTES

PASADENA CITY HALL
100 NORTH GARFIELD AVENUE
CITY HALL COUNCIL CHAMBER S249
FEBRUARY 24, 2025

REGULAR MEETING
OPENI
NG Chair Gordo called the regular meeting of the Finance Committee to order at 4:10 p.m.

ROLL CALL
: Mayor Victor M. Gordo (Chair)
Councilmember Rick Cole
Councilmember Tyron Hampton (arrived at 4:25 p.m.)
Councilmember Gene Masuda
Sta
ff: Miguel Márquez, City Manager
Matthew Hawkesworth, Acting Assistant City Manager/Director of Finance
Arnold Lee, Chief Assistant City Attorney
Phyllis Hallowell, Management Analyst V
Jim Wong, Acting Director of Housing
Gloria Acevedo, Recording Secretary
David Klug, Economic Development Director
Flora Karmiryan, Principal Admin Analyst
APPR
OVAL OF MINUTES: It was moved by Councilmember Masuda , seconded by Councilmember NEW BU
SINESS:

Cole, to approve the minutes of the February 10, 2025, Special Finance (Motion Unanimously carried) (Absent: Councilmember Hampton).

APPROVE AMENDMENTS TO FISCAL YEAR 2025 ADOPTED

OPERATING BUDGET
Chair Gordo introduced the item and Matthew Hawkesworth, Acting Assistant City Manager/Director of Finance, introduced Flora Karmiryan, Principal Admin Analyst,
who responded to questions.

Councilmember Cole shared that trees are a cost-e ffective investment, given they absorb carbon and reduce summer heat in homes, which in turn reduces the City’s need to generate more power. Mr. Cole recommended the addition of $80,000 to the proposed $70,000 budget increase, to allow for the planting of an additional 600 trees, bringing the total amendment for this line item to $150,000.

Councilmember Masuda asked for the number of trees that were planted by Pasadena Beautiful, as they planted several trees in District Four. Mr.

Hawkesworth will follow up with a response.

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02 2/24/25 Finance Committee
Miguel Márquez, City Manager, info rmed the Committee that in the last 11 fiscal years, the City has planted 6,557 trees and removed 5,166 trees, indicating that generally the City plants more trees than it removes.

Chair Gordo requested for staff to provide an analysis on the reasons the City loses trees.

Recording Secretary, Gloria Acevedo informed the Committee that there were two supplemental correspondences for items not on the agenda that were related to the Pasadena Rental Housing Board. The items were distributed to the Finance Committee and posted online.

The following individual provided a comment/suggestion on the matter.

Flavio Andrade, representing the Brown & Black Foundation agreed with the Committee regarding the planting of more trees and requested for trees to be planted in all council districts.

Councilmember Hampton shared that the City uses heat maps to determine where to plant trees in hot spots that include areas in Districts 1, 3, and 5. Councilmember Hampton is interested in reviewing any maps that the Public Works Department may maintain.

Chai
r Gordo reminded the Committee that the item is referencing the tree replacement program and would like to hear from the Municipal Services Committee (MSC) if there are areas within the City where future tree investments can be made, particularly using the City’s heat map . Future partnership with Pasadena Beautiful should be explored through MSC.

Councilmember Cole suggested for the City to update its Street Tree Masterplan, keeping in mind the focus on shade trees, native trees , and the reduction in planting palm and eucalyptus trees since they are more susceptible to fires.

It was moved by Councilmember Cole with the recommendation to increase the tree planting budget to $150,000 instead of the proposed $70,000, seconded by Councilmember Masuda, to approve staff’s recommendation and forward the item to the City Council for consideration. (Motion Unanimously carried) (Absent: None)

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03 2/24/25 Finance Committee
ADJOURNMENT: On the order of the Chair, the regular meeting of the Finance Committee was adjourned at 4:35 p.m.

ATTEST: _______
_______________
Mayor Victor Gordo, Chair
Finance Committee
____________
________
Gloria Acevedo
Recording Secretary

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NEW BUSINESS
ITEM 1

1. AMEND THE HOUSING DEPARTMENT’S FISCAL YEAR 2025

OPERATING BUDGET BY RECOGNIZING REVENUE AND
APPROPRIATING $2,418,575.85 OF STATE AND COUNTY

GRANT FUNDS FOR HOMELESS SERVICES

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NEW BUSINESS
ITEM 2

2. AUTH

ORIZE THE CITY MANAGER TO ENTER INTO A
CONTRACT WITH THE FOOTHILL UNITY CENTER, INC. TO

RECEIVE HELPING JUSTICE-INVOLVED REENTER
EMPLOYMENT (H.I.R.E) GRANT FUNDS AND TO SUB-

AWARD A PORTION OF THE AWARDED GRANT FUNDS TO

THE FLINTRIDGE CENTER AND AMEND THE BUDGET TO

ACCEPT AND SPEND THE GRANT FUNDS

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NEW BUSINESS
ITEM 3

3. JOINT ACTION BETWEEN THE CITY AND THE PASADENA
PUBLIC FINANCING AUTHORITY: APPROVE EXTENSION OF

BANK OF AMERICA LETTER OF CREDIT RELATED TO THE

VARIABLE RATE DEMAND REFUNDING CERTIFICATES OF
PARTICIPATION SERIES, 2008A (CONFERENCE CENTER

PROJECT)

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Quarterly Investment Report – Quarter Ending September 30, 2013 November 25, 2013

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March 17, 2025

TO: Honorable Mayor and City Council
Pasadena Public Financing Authority

THROUGH: Finance Committee

FROM: Department of Finance

SUBJECT: JOINT ACTION BETWEEN THE CITY AND THE PASADENA PUBLIC FINANCING AUTHORITY: APPROVE EXTENSION OF BANK OF

AMERICA LETTER OF CREDIT RELATED TO THE VARIABLE RATE

DEMAND REFUNDING CERTIFICATES OF PARTICIPATION, SERIES
2008A (CONFERENCE CENTER PROJECT)

RECOMMENDATION:

It is recommended that the City Council and Pasadena Public Financing Authority (PPFA):

a) F ind that the proposed action is not a project subject to the California Environmental Quality Act (CEQA) as defined in Section 21065 of CEQA and Section 15378 of the State CEQA Guidelines and, as such, no environmental document pursuant to CEQA is required for the project;

b) Adopt a Resolution of the Board of Directors of the Pasadena Public Financing Authority approving the form of and authorizing the execution and delivery of a Seventh Amendment to the Reimbursement Agreement; and authorizing the execution and delivery of other related documents and approval of other documents and actions in connection therewith; and

c) Adopt a Resolution of the City Council of the City of Pasadena approving the form of and authorizing the execution and delivery of a Seventh Amendment to the Reimbursement Agreement; and authorizing the execution and delivery of other related documents and approval of other documents and actions in connection therewith.

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Extension of Bank of America Letter of Credit
March 17, 2025

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BACKGROUND:

In 2006, the City sold $162.64 million in Certificates of Participation (COP’s) to finance the expansion of the Pasadena Conference Center. The COP’s were issued with a AAA municipal bond insurance policy and in two series:

Series A: $28 million Capital Appreciation Bonds (CAB’s); these are zero coupon bonds that effectively have a fixed interest rate and were not impacted by the financial crisis in the financial market in 2008.

Series B: $135.5 million Auction Rate Certificates, which carried a variable interest rate that reset every seven-days.

The City simultaneously entered into an interest rate swap agreement with Depfa Bank when it issued the series 2006B COP’s. The swap requires the City to pay the bank a fixed rate equal to 3.536% and in return the City receives a variable rate equal to 64% of the London Interbank Offered Rate (LIBOR index later replaced by the Secured Overnight Financing Rate (SOFR) index), which effectively created a “synthetic fixed rate” of 3.536%. This synthetic fixed rate structure has provided the lowest cost of financing rate and enabled the project financing to meet its objectives. The City later replaced Depfa Bank with Royal Bank of Canada as their swap counterparty.

As a result of the failure of the auction rate market in early 2008, the City’s auction rate certificates were no longer generating the expected low financing cost. In April 2008, the City refunded its 2006B Auction Rate securities by issuing its 2008A Variable Rate Demand Refunding COP’s. Variable Rate Demand Bonds or VRDB’s are long-term bonds that carry a short-term interest rate that is reset every seven-days. Unlike auction rate bonds, VRDB’s, have a seven-day put feature and are required to be backed by a liquidity facility and/or bank letter of credit (LOC).

The current Letter of Credit (“LOC”) from Bank of America related to the 2008A COP’s expires on March 31, 2025, and needs to be extended or replaced in order for the bonds to be remarketed. Before recommending the extension, Finance staff along with Mr. David Liefer of KNN Public Finance, LLC (KNN), the City’s Municipal Advisor, reviewed the financial market for standby letters of credits and solicited providers. Most LOC providers are selectively authorizing LOC’s, and in such cases often prefer essential credits (i.e., water, sewer, or General Obligation credits). Most issuers have the best chance to obtain a LOC at a competitive rate from their primary banking relationship. The City’s primary banking relationship is with Bank of America. According to KNN, The proposed fee by Bank of America is at the lowest level of the range of fees.

Prior to recommending the extension of the LOC, Finance staff has also reviewed other options, including the refunding of the VRDB’s. After careful review of the analysis of the refunding cost, which would require the liquidation of the existing swap, it is staff’s recommendation to proceed with the extension of Bank of America’s LOC for a term of three-years at a rate of 0.34%.

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Extension of Bank of America Letter of Credit
March 17, 2025

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COUNCIL POLICY CONSIDERATION:

This action supports the City Council’s strategic goal to maintain fiscal responsibility and stability.

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Attachment A

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Attachment B

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Bank Counsel and Fees:

Other Fees ($):

Documentation:

Interest Rates During Term-out Period:

Default Rate (%):

Opinions:

No Advisory or Fiduciary Role:

Rudy Salo, Nixon Peabody LLP
300 South Grand Avenue, Suite 4100
Los Angeles, CA 90071
Telephone: (213) 629-6069
Email: [email protected]
Bank Counsel fees are estimated at $7,500.

None expected
We anticipate minimal substantive changes to the existing bank documents.

Documentation will include a new Fee Letter and an amendment to the Reimbursement Agreement, based on BANA's existing Letter of Credit and Reimbursement Agreement dated April 2008 (as previously amended, the "Reimbursement Agreement"), prepared by Bank Counsel and acceptable to the Bank. The Agreement will include, but not be limited to, the terms and conditions outlined herein, as well as the provisions that are customary and standard with respect to conditions precedent, representations and warranties, covenants, events of default and remedies.

Base Rate (%) (unchanged): The greatest of (i) Bank of America's Prime Rate +

1.0%, (ii) Fed Funds+ 2.00%, and (iii) 7.00%
Bank Rate(%) (unchanged): Days 1-90: Base Rate. Day 91+: Base Rate + 1.00% Base Rate+ 3.00% (unchanged)
The Bank will require customary legal opinions from counsel to the City and Bond Counsel as to the obligations of the City and the Authority, respectively, under the Agreement.

The Issuer acknowledges and agrees that: (i) the transaction contemplated by this Proposal and Summary of Terms and Conditions is an arm's length, commercial transaction between the Issuer and the Bank in which the Bank is acting solely as a principal and for its own interest; (ii) the Bank is not acting as a municipal advisor or financial advisor to the Issuer; (iii) the Bank has no fiduciary duty pursuant to Section 158 of the Securities Exchange Act of 1934 to the Issuer with respect to the transaction contemplated hereby and the discussions, undertakings and procedures leading thereto (irrespective of whether the Bank has provided other services or is currently providing other services to the Issuer on other matters); (iv) the only obligations the Bank has to the Issuer with respect to the transaction contemplated hereby expressly are set forth in this Summary of Terms and Conditions; and (v) the Bank is not recommending that the Issuer take an action with respect to the transaction contemplated by this Summary of Terms and Conditions, and before taking any action with respect to the contemplated transaction, Issuer should discuss the information contained herein with its own legal, accounting, tax, financial and other advisors, as it deems appropriate. If the Issuer would like a municipal advisor in this transaction that has legal fiduciary duties to Issuer, the Issuer is free to engage a municipal advisor to serve in that capacity. This Summary of Terms and Conditions is provided to the Issuer pursuant to and in reliance upon the "bank exemption" provided under the municipal advisor rules of the Securities and Exchange Commission, Rule lSBal-1 et seq.

A- 2 BANK OF AMERICA
.....-
,..�

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NEW BUSINES
ITEM 4

4. QUARTERLY INVESTMENT REPORT -
QUARTER ENDING DECEMBER 31, 2024

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City of Pasadena
Quarterly Investment Report
Quarter Ending 12/31/202
4 Prepared by the Department of Finance
Treasury Division
Attachment A

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Quarterly Investment Report
I. Pooled Investment Portfolio
II. Capital Endowment Portfolio
III. Power Reserve Portfolio
IV. Miscellaneous Portfolios
V. Investments Held by Trustees
VI. PARS Section 115 Trust

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I. Pool
ed Investment Portfolio

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CITY OF PASADENA
Treasurer's Pooled Investment Portfolio
Vicken Erganian
City Treasurer
December 2024

PORTFOLIO COMPLIANCE
The Treasurer's investment portfolio is in compliance with the California Government Code Section 53601 and the City's Investment Policy approved by the City Council on July 8, 2024. The holdings in the investment pool are in compliance with the current investment policy statement. Further information on compliance issues can be obtained by calling the City of Pasadena Treasurer's Office. A complete copy of the monthly investment report on the investment portfolio including a detailed listing of each investment, is available by calling the Treasurer's office at (626)744-4422.

PORTFOLIO STRUCTURE AS OF 12/31/2024

TYPE MARKET VALUE PERCENT
Money Market - Collateralized 1,236 0.00%
Municipal Bonds 62,392,913 7.63%
Corporate Bonds 93,942,385 11.48%
Federal Agencies 453,466,604 55.43%
US Treasury Securities 51,883,662 6.34%
Supranationals 37,410,291 4.57%
Commercial Paper 7,329,180 0.90%
Money Market-CAMP 102,023,410 12.47%
Money Market Fund-US Bank 3,307,929 0.40%
LAIF 1,342,756 0.16%
Cash in Bank 4,923,272 0.60%
TOTALS: 818,023,639 100.00%
Accrued Interest Receivable 5,718,688
GRAND TOTAL: 823,742,327
PORTFOLIO LIQUIDITY AS OF 12/31/2024
Percent of
Aging Interval Par Value Portfolio
0-30 Days 124,398,604 14.95%
31 days - 1 Year 244,442,778 29.37%
1 - 2 Years 128,808,000 15.47%
2 - 3 Years 58,450,000 7.02%
3 - 4 Years 44,700,000 5.37%
4 - 5 Years 229,066,000 27.52%
Over 5 Years 2,500,000 0.30%
TOTAL: 832,365,381 100.00%
Dec-24 Nov-24 Oct-24 Sep-24 Aug-24 Jul-24
Month-End Market Value 823,742,327 790,423,402 791,805,706 796,416,802 788,759,519 728,744,667 Modified Duration 1.82 1.98 1.90 1.60 1.46 1.51
Weighted Average Maturity 2.07 2.19 2.12 1.77 1.59 1.65 Current Book Yield to Maturity 3.308% 3.214% 3.166% 3.164% 3.195% 3.026% Effective Yield - Year to Date 3.110% 3.080% 3.050% 3.040% 2.990% 2.970% Interest Earned 2,202,137 2,121,070 2,105,659 2,066,862 1,895,636 1,886,042 Fiscal Year To Date Interest Earned 12,277,406 10,075,268 7,954,198 5,848,539 3,781,678 1,886,042 Fair Value Change Gain/(Loss) 291,953 1,176,606 (1,826,700) 2,690,902 3,446,273 3,489,849 Fiscal Year To Date change in fair value 9,268,882 8,976,930 7,800,324 9,627,024 6,936,122 3,489,849 Total Fiscal YTD Earnings 21,546,288 19,052,198 15,754,522 15,475,563 10,717,800 5,375,891

PORTFOLIO STATISTICS
MMF-Collateral

0.00%
Muni

7.63%
Corp Bond

11.48%
Fed Agency

55.43%
US Treasury

6.34%
Supranationals

4.57%
Commercial
Paper

0.90%
Money Market-
CAMP

12.47%Money Market
Fund-US Bank

0.40%
LAIF

0.16%
Cash in Bank

0.60%
1

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YTM
365

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Par Value Book Value
Maturity
Date
Stated
RateMarket Value
December 31, 2024
Portfolio Details - Investments
Average
BalanceIssuer
Portfolio Management
Monthly for Pool
Days to
MaturityMoody'sCUSIP Investment #
Purchase
Date
LAIF

4.430Local Agency Investment Fund864 1,085,273.49 1,085,273.49 4.4301,085,273.49SYS864 1

4.430LAIF-COVID Relief Funds Acct14053 257,482.72 257,482.72 4.430257,482.72SYS14053 1 1,342,756.211,342,756.211,342,756.211,342,756.21Subtotal and Average 4.430 1 Money Market Fund-CAMP

4.796California Asset Management Pr13824 102,023,410.44 102,023,410.44 4.730102,023,410.44SYS13824 1 102,023,410.44102,023,410.44102,023,410.4485,788,002.01Subtotal and Average 4.796 1 Collateralized Money Market

3.970EAST WEST BANK13067 1,236.35 1,236.35 3.9701,236.35SYS13067 1 1,236.351,236.351,236.351,236.35Subtotal and Average 3.970 1 Money Market Fund-US Bank

0.0002010 Reserve W/US Bank14319 3,307,929.02 3,307,929.0211/20/2024 3,307,929.02SYS14155 1 3,307,929.023,307,929.023,307,929.023,307,485.86Subtotal and Average 0.000 1 Municipal Bonds

5.377City of Corona Revenue Bond14035 1,500,000.00 1,479,821.79 05/01/20251.13111/27/2023 1,483,785.00 AA+21969AAD4 120

0.943Huntington Beach CA Public Fin13861 300,000.00 300,000.00 05/01/20250.94308/12/2020 296,574.00 AA446216HJ5 120

0.883UNIVERSITY OF CA REVENUE BONDS13827 1,000,000.00 1,000,000.00 05/15/20250.88307/16/2020 987,050.00 Aa291412HGE7 134

0.610UNIVERSITY OF CA REVENUE BONDS13893 5,000,000.00 5,005,000.76 05/15/20250.88312/16/2020 4,935,250.00 Aa291412HGE7 134

0.952California St Health Facs Fing13883 1,500,000.00 1,500,000.00 06/01/20250.95211/04/2020 1,479,495.00 Aa313032UXM5 151

0.824Redondo Beach Unified School13840 500,000.00 500,000.00 08/01/20250.82408/06/2020 490,160.00 Aa2757710TZ1 212

5.270San Jose Redevelopment Agency14034 2,000,000.00 1,975,782.54 08/01/20253.07611/24/2023 1,983,920.00 AA+798170AH9 212

2.311South Pasadena Unified School13747 675,000.00 684,871.50 08/01/20255.00012/12/2019 677,693.25 Aa2839278JY5 212

0.740SAN RAMON VLY CA UNIF SCH DIST13872 1,500,000.00 1,500,000.00 08/01/20250.74010/20/2020 1,470,195.00 Aa1799408Z85 212

0.938West Coast Contra Unified Scho13940 3,000,000.00 3,000,000.00 08/01/20250.93806/17/2021 2,943,750.00 AA9523474V1 212

1.181City of Arcadia13881 750,000.00 750,000.00 12/01/20251.18211/12/2020 728,340.00 Aaa039063AE2 334

3.877SANTA CLARA VALLEY WATER DISTR14103 3,000,000.00 3,000,000.00 06/01/20263.88009/24/2024 2,979,240.00 Aa180168AGX9 516

5.738LOS ANGELES CA UNIF SCH DIST14027 1,975,000.00 1,974,242.94 05/01/20275.72010/20/2023 2,022,321.00 Aa3544646A77 850

4.788UNIVERSITY OF CA REVENUE BONDS14072 3,000,000.00 2,772,379.80 05/15/20271.31605/13/2024 2,787,240.00 Aa291412HGF4 864

4.508UNIVERSITY OF CA REVENUE BONDS14074 5,000,000.00 4,631,544.16 05/15/20271.31605/17/2024 4,645,400.00 Aa291412HGF4 864

3.977Fremont Unified School Distri14088 3,975,000.00 3,699,887.30 08/01/20271.11308/29/2024 3,649,646.25 Aa2357155BA7 942

4.630CITY OF LOS ANGELES14077 3,000,000.00 3,100,723.67 09/01/20276.00007/09/2024 3,113,310.00 Aa2544351RM3 973

5.190City of Corona Revenue Bond14036 2,500,000.00 2,255,025.13 05/01/20281.86311/29/2023 2,294,700.00 AA+21969AAG7 1,216

4.753San Jose Redevelopment Agency14078 2,700,000.00 2,558,318.64 08/01/20283.12506/26/2024 2,556,468.00 AA798170AL0 1,308

3.925California St Health Facs Fing14093 5,000,000.00 5,251,956.58 09/01/20295.12509/03/2024 5,118,800.00 Aa213063EBP0 1,704

3.708STATE OF CALIFORNIA GO BONDS14128 4,500,000.00 4,769,282.25 10/01/20295.10010/01/2024 4,583,070.00 Aa213063D2W7 1,734 Portfolio PASD
APData Updated: SET_POOL: 01/27/2025 15:15
Run Date: 01/27/2025 - 15:15 PM (PRF_PM2) 7.3.0
Report Ver. 7.3.6.1
2

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4.449California ST Public Works14142 8,890,000.00 8,806,297.69 11/01/20294.23011/01/2024 8,666,505.40 Aa313068XNN5 1,765

3.000PCOC Debt-General Fund14076 2,500,000.00 2,500,000.00 06/05/20343.00006/05/2024 2,500,000.00 AaaSYS14076 3,442 63,015,134.7562,392,912.9063,765,000.0062,999,201.45Subtotal and Average 3.584 1,058 Federal Agency Issues - Coupon

1.125Federal Home Loan Bank13973 5,000,000.00 5,000,000.00 01/21/20251.12501/21/2022 4,991,477.10 Aaa3130AQFG3 20

1.250Federal Home Loan Bank13975 5,000,000.00 5,000,000.00 01/28/20251.25001/28/2022 4,988,827.25 Aaa3130AQJ79 27

1.500Federal Home Loan Bank13977 5,000,000.00 5,000,000.00 02/18/20251.50002/18/2022 4,981,243.80 Aaa3130AQPF4 48

0.625Federal Home Loan Bank13933 5,000,000.00 5,000,000.00 02/27/20250.62505/27/2021 4,970,814.85 Aaa3130AMMG4 57

1.810Federal Home Loan Bank13979 4,700,000.00 4,700,000.00 02/27/20251.81002/28/2022 4,681,233.42 Aaa3130AQX99 57

0.650Federal Home Loan Bank13959 5,000,000.00 5,000,000.00 03/28/20250.65009/28/2021 4,957,235.15 Aaa3130AP5S0 86

3.000Federal Home Loan Bank13982 5,000,000.00 5,000,000.00 04/22/20253.00004/22/2022 4,979,017.50 Aaa3130ARJW2 111

0.750Federal Home Loan Bank13811 5,000,000.00 5,000,000.00 05/19/20250.75005/19/2020 4,931,437.10 Aaa3130AJLA5 138

3.400Federal Home Loan Bank13985 5,000,000.00 5,000,000.00 05/23/20253.40005/23/2022 4,981,116.35 Aaa3130ARZD6 142

0.750FED HOME LOAN MORTAGE CORP13814 5,000,000.00 5,000,000.00 05/28/20250.75005/28/2020 4,926,238.30 Aaa3134GVVX3 147

0.750FED HOME LOAN MORTAGE CORP13816 5,000,000.00 5,000,000.00 05/28/20250.75005/29/2020 4,929,667.90 Aaa3134GVB31 147

0.750FED HOME LOAN MORTAGE CORP13817 5,000,000.00 5,000,000.00 05/28/20250.75006/01/2020 4,929,667.90 Aaa3134GVB31 147

0.780Federal Farm Credit Bank13820 5,000,000.00 5,000,000.00 06/16/20250.78006/16/2020 4,917,032.05 Aaa3133ELK37 166

0.764Federal Home Loan Bank13822 3,017,777.77 3,017,722.35 06/16/20250.76006/19/2020 2,970,168.31 Aaa3130AJPT0 166

4.100Federal Home Loan Bank13996 5,000,000.00 5,000,000.00 08/08/20254.10008/08/2022 4,995,987.45 Aaa3130ASRJ0 219

0.650FED NATIONAL MORTGAGE ASSN13828 5,000,000.00 5,000,000.00 08/14/20250.65008/14/2020 4,887,634.20 Aaa3136G4C43 225

0.614Federal Farm Credit Bank13863 5,000,000.00 4,999,868.91 08/25/20250.61009/10/2020 4,880,868.65 Aaa3133EL4W1 236

0.530Federal Farm Credit Bank13864 20,000,000.00 20,000,000.00 09/29/20250.53009/29/2020 19,445,618.60 Aaa3133EMBH4 271

4.300Federal Home Loan Bank13997 5,000,000.00 5,000,000.00 09/30/20254.30009/30/2022 4,992,799.45 Aaa3130ATBN6 272

0.600FED HOME LOAN MORTAGE CORP13870 10,000,000.00 10,000,000.00 09/30/20250.60009/30/2020 9,731,990.60 Aaa3134GWVN3 272

0.600FED HOME LOAN MORTAGE CORP13873 10,000,000.00 10,000,000.00 10/15/20250.60010/15/2020 9,716,794.00 Aaa3134GWYS9 287

0.625FED HOME LOAN MORTAGE CORP13877 10,000,000.00 10,000,000.00 10/27/20250.62510/27/2020 9,705,891.90 Aaa3134GW3X2 299

0.600FED HOME LOAN MORTAGE CORP13878 5,000,000.00 5,000,000.00 10/27/20250.60010/27/2020 4,851,958.15 Aaa3134GW5P7 299

0.600FED HOME LOAN MORTAGE CORP13874 10,000,000.00 10,000,000.00 10/28/20250.60010/28/2020 9,702,945.10 Aaa3134GW3F1 300

0.600FED HOME LOAN MORTAGE CORP13876 5,000,000.00 5,000,000.00 10/28/20250.60010/28/2020 4,851,472.55 Aaa3134GW3Z7 300

0.600Federal Farm Credit Bank13888 10,000,000.00 10,000,000.00 11/24/20250.60011/24/2020 9,678,360.10 Aaa3133EMHF2 327

0.690FED HOME LOAN MORTAGE CORP13886 5,000,000.00 5,000,000.00 11/25/20250.62511/25/2020 4,842,331.15 Aaa3134GXCS1 328

0.719FED HOME LOAN MORTAGE CORP13891 5,000,000.00 5,000,000.00 11/26/20250.65011/30/2020 4,840,059.45 Aaa3134GXFA7 329

0.550Federal Home Loan Bank13900 5,000,000.00 5,000,000.00 02/12/20260.55002/12/2021 4,791,178.40 Aaa3130AKVR4 407

0.625Federal Home Loan Bank13905 5,000,000.00 5,000,000.00 02/17/20260.62502/17/2021 4,799,679.60 Aaa3130AL3S1 412

0.750Federal Home Loan Bank13907 5,000,000.00 5,000,000.00 02/24/20260.75002/24/2021 4,803,225.10 Aaa3130ALCV4 419

0.630Federal Home Loan Bank13906 5,000,000.00 5,000,000.00 02/26/20260.63002/26/2021 4,795,599.95 Aaa3130ALB94 421

0.844Federal Farm Credit Bank13911 10,000,000.00 9,999,532.22 03/02/20260.84003/02/2021 9,599,595.90 Aaa3133EMSK9 425 Portfolio PASD
APData Updated: SET_POOL: 01/27/2025 15:15
Run Date: 01/27/2025 - 15:15 PM (PRF_PM2) 7.3.0
3

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0.800Federal Home Loan Bank13908 5,000,000.00 5,000,000.00 03/04/20260.80003/04/2021 4,802,490.00 Aaa3130ALEY6 427

0.800Federal Home Loan Bank13909 5,000,000.00 5,000,000.00 03/10/20260.80003/10/2021 4,798,976.00 Aaa3130ALFS8 433

1.000Federal Home Loan Bank13910 4,875,000.00 4,875,000.00 03/23/20261.00003/23/2021 4,681,491.56 Aaa3130ALGJ7 446

0.940Federal Farm Credit Bank13960 5,000,000.00 5,000,000.00 09/28/20260.94009/28/2021 4,711,032.95 Aaa3133EM6E7 635

1.000Federal Home Loan Bank13953 5,000,000.00 5,000,000.00 09/30/20261.00009/30/2021 4,723,740.55 Aaa3130ANYN4 637

1.250Federal Home Loan Bank13964 5,000,000.00 5,000,000.00 10/28/20261.25010/28/2021 4,731,972.70 Aaa3130APDQ5 665

4.330Federal Farm Credit Bank14105 5,000,000.00 5,000,000.00 09/10/20274.33009/12/2024 4,979,838.70 Aaa3133ERSM4 982

4.329Federal Farm Credit Bank14106 5,000,000.00 5,000,000.00 09/10/20274.33009/16/2024 4,979,838.70 Aaa3133ERSM4 982

4.875FED HOME LOAN MORTAGE CORP14146 7,500,000.00 7,500,000.00 11/15/20274.87511/15/2024 7,495,497.30 Aaa3134HAZR7 1,048

4.875FED HOME LOAN MORTAGE CORP14148 10,000,000.00 10,000,000.00 11/15/20274.87511/20/2024 9,996,242.10 Aaa3134HAF24 1,048

5.000Federal Home Loan Bank14156 5,000,000.00 5,000,000.00 11/26/20275.00011/26/2024 4,989,727.30 Aaa3130B3SF1 1,059

4.500Federal Home Loan Bank14049 5,000,000.00 5,000,000.00 01/12/20284.50001/12/2024 4,991,679.40 Aaa3130AYFT8 1,106

4.930Federal Farm Credit Bank14097 5,000,000.00 5,000,000.00 09/06/20284.93009/06/2024 4,986,885.30 Aaa3133ERSD4 1,344

5.000Federal Home Loan Bank14102 5,000,000.00 5,000,000.00 09/19/20285.00009/19/2024 4,990,787.60 Aaa3130B2MK8 1,357

5.350Federal Home Loan Bank14038 5,000,000.00 5,000,000.00 11/28/20285.35011/29/2023 4,999,151.25 Aaa3130AXVE5 1,427

4.830Federal Home Loan Bank14147 5,000,000.00 5,000,000.00 12/04/20284.83012/04/2024 4,986,860.00 Aaa3130B3T52 1,433

4.602Federal Farm Credit Bank14108 10,000,000.00 10,000,000.00 01/02/20294.60010/02/2024 9,950,511.70 Aaa3133ERVH1 1,462

4.602Federal Farm Credit Bank14130 7,500,000.00 7,500,000.00 01/02/20294.60010/02/2024 7,462,883.78 Aaa3133ERVH1 1,462

5.150FED HOME LOAN MORTAGE CORP14054 5,000,000.00 5,000,000.00 01/22/20295.15001/22/2024 4,996,557.60 Aaa3134H1PT4 1,482

5.500FED HOME LOAN MORTAGE CORP14067 5,000,000.00 5,000,000.00 04/11/20295.50004/11/2024 4,994,138.90 Aaa3134H1C68 1,561

5.600Federal Home Loan Bank14075 5,000,000.00 5,000,000.00 06/06/20295.60006/06/2024 5,013,070.65 Aaa3130B1LU9 1,617

5.600FED NATIONAL MORTGAGE ASSN14079 5,000,000.00 5,000,000.00 07/02/20295.65007/02/2024 5,000,000.00 Aaa3135GATX9 1,643

5.650Federal Home Loan Bank14081 5,000,000.00 5,000,000.00 07/16/20295.65007/16/2024 4,994,255.00 Aaa3130B1WW3 1,657

5.499FED HOME LOAN MORTAGE CORP14082 5,000,000.00 5,000,000.00 07/17/20295.50007/18/2024 4,996,680.20 Aaa3134H17F4 1,658

5.500FED HOME LOAN MORTAGE CORP14083 5,000,000.00 5,000,000.00 07/24/20295.50007/24/2024 5,002,612.40 Aaa3134HAAT0 1,665

5.050FED HOME LOAN MORTAGE CORP14085 5,000,000.00 5,000,000.00 08/07/20295.05008/07/2024 4,984,703.40 Aaa3134HADQ3 1,679

5.200Federal Home Loan Bank14086 5,000,000.00 5,000,000.00 08/21/20295.20008/21/2024 4,986,727.90 Aaa3130B2EG6 1,693

5.150FED HOME LOAN MORTAGE CORP14095 5,000,000.00 5,000,000.00 08/27/20295.15008/30/2024 4,986,346.70 Aaa3134HAJA2 1,699

4.250Federal Home Loan Bank14109 5,000,000.00 5,000,000.00 09/10/20294.25009/25/2024 4,936,214.40 Aaa3130B2TQ8 1,713

5.000Federal Home Loan Bank14091 5,000,000.00 5,000,000.00 09/11/20295.00009/11/2024 4,985,432.30 Aaa3130B2KZ7 1,714

5.000Federal Home Loan Bank14096 10,000,000.00 10,000,000.00 09/11/20295.00009/11/2024 9,970,864.60 Aaa3130B2KZ7 1,714

4.850Federal Home Loan Bank14127 5,000,000.00 5,000,000.00 09/19/20294.85009/26/2024 4,985,804.50 Aaa3130B2WC5 1,722

5.000FED HOME LOAN MORTAGE CORP14107 10,000,000.00 10,000,000.00 09/19/20295.00009/19/2024 9,967,291.40 Aaa3134HALK7 1,722

4.304Federal Home Loan Bank14129 10,000,000.00 9,998,101.34 09/26/20294.30009/30/2024 9,919,894.60 Aaa3130B2UT0 1,729

5.000FED NATIONAL MORTGAGE ASSN14133 8,000,000.00 8,000,000.00 10/01/20295.00010/15/2024 7,957,256.16 Aaa3135GAW98 1,734

5.000FED NATIONAL MORTGAGE ASSN14138 7,500,000.00 7,500,000.00 10/01/20295.00010/15/2024 7,459,927.65 Aaa3135GAW98 1,734

4.900Federal Home Loan Bank14131 5,000,000.00 5,000,000.00 10/11/20294.90010/11/2024 4,985,401.40 Aaa3130B35Y5 1,744

4.600Federal Farm Credit Bank14136 5,000,000.00 5,000,000.00 10/15/20294.60010/15/2024 4,975,208.00 Aaa3133ERXP1 1,748 Portfolio PASD
APData Updated: SET_POOL: 01/27/2025 15:15
Run Date: 01/27/2025 - 15:15 PM (PRF_PM2) 7.3.0
4

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5.150Federal Home Loan Bank14139 5,000,000.00 5,000,000.00 10/22/20295.15010/22/2024 4,987,111.85 Aaa3130B3D91 1,755

5.000FED NATIONAL MORTGAGE ASSN14141 5,000,000.00 5,000,000.00 10/23/20295.00010/23/2024 5,002,325.75 Aaa3135GAXE6 1,756

5.210FED HOME LOAN MORTAGE CORP14143 5,000,000.00 5,000,000.00 10/24/20295.21010/24/2024 4,996,312.10 Aaa3134HATX1 1,757

5.250FED HOME LOAN MORTAGE CORP14144 2,076,000.00 2,076,000.00 11/05/20295.25011/05/2024 2,072,171.46 Aaa3134HAVX8 1,769

5.100FED HOME LOAN MORTAGE CORP14145 5,000,000.00 5,000,000.00 11/07/20295.10011/07/2024 5,008,149.40 Aaa3134HAXK4 1,771

5.150FED HOME LOAN MORTAGE CORP14158 5,000,000.00 5,000,000.00 12/18/20295.15012/27/2024 4,993,371.40 Aaa3134HAV42 1,812 460,166,224.82453,466,603.89460,168,777.77460,650,051.99Subtotal and Average 2.920 893 Treasury Securities - Coupon

0.554US TREASURY13954 10,000,000.00 9,998,708.40 03/31/20250.50009/16/2021 9,910,546.90 Aaa912828ZF0 89

5.190US TREASURY14025 5,000,000.00 4,993,294.18 09/30/20255.00010/18/2023 5,026,093.75 Aaa91282CJB8 272

4.929U.S. TREASURY14068 5,000,000.00 4,974,841.36 03/31/20264.50004/11/2024 5,013,476.55 Aaa91282CKH3 454

0.924US TREASURY13963 5,000,000.00 4,985,920.81 08/31/20260.75009/24/2021 4,721,484.40 Aaa91282CCW9 607

4.019U.S. TREASURY14140 10,000,000.00 9,913,542.77 09/30/20263.50010/22/2024 9,873,437.50 Aaa91282CLP4 637 34,866,307.5234,545,039.1035,000,000.0034,862,504.99Subtotal and Average 2.880 397 Corporate Bonds - Coupon

4.050CITIGROUP GLOBAL MARKETS13990 2,500,000.00 2,500,000.00 05/27/20254.05005/27/2022 2,482,200.65 A217330FVU2 146

4.050CITIGROUP GLOBAL MARKETS13991 2,500,000.00 2,500,000.00 05/27/20254.05005/27/2022 2,482,200.65 A217330FVU2 146

5.030Microsoft Corporation14073 4,000,000.00 3,939,073.79 11/03/20253.12505/15/2024 3,958,269.24 Aaa594918BJ2 306

0.825JP MORGAN13898 5,000,000.00 5,000,000.00 12/22/20250.82512/22/2020 4,792,006.85 A148128GY53 355

1.357BANK OF AMERICA CORP13923 5,000,000.00 4,959,642.45 01/26/20260.60003/25/2021 4,812,518.10 A106048WK82 390

0.752BANK OF NEW YORK MELLON13901 5,000,000.00 4,999,892.26 01/28/20260.75002/02/2021 4,803,615.70 A106406RAQ0 392

0.718APPLE INC13902 5,000,000.00 4,999,051.61 02/08/20260.70002/08/2021 4,804,189.20 Aaa037833EB2 403

1.250BANK OF AMERICA CORP13934 5,000,000.00 5,000,000.00 05/28/20261.25005/28/2021 4,749,385.05 A106048WM31 512

1.263BANK OF AMERICA CORP13945 3,623,000.00 3,619,728.27 06/25/20261.20007/21/2021 3,413,712.01 A106048WM64 540

1.155ROYAL BANK OF CANADA13958 6,250,000.00 6,249,501.12 07/14/20261.15009/22/2021 5,935,965.50 A178016EZT7 559

1.365Credit Suisse New York13961 5,000,000.00 4,991,111.92 08/07/20261.25009/24/2021 4,730,371.80 A322550L2G5 583

5.433Toyota Motor Credit Corp14033 5,000,000.00 4,997,170.83 11/20/20265.40011/20/2023 5,076,998.20 A189236TLD5 688

5.214Met Life Glob Funding I14043 1,060,000.00 1,026,401.00 12/18/20263.45012/18/2023 1,038,005.96 Aa359217GBY4 716

4.789MUTUAL OF OMAHA GLOBAL14155 4,000,000.00 4,047,419.18 04/09/20275.35011/22/2024 4,031,102.64 A162829D2D1 828

4.854Amazon.com Inc14080 5,000,000.00 4,793,374.40 08/22/20273.15007/03/2024 4,827,402.60 A1023135BC9 963

4.132Johnson & Johnson14048 5,000,000.00 4,829,124.01 01/15/20282.90001/10/2024 4,779,339.50 Aaa478160CK8 1,109

5.125JP MORGAN14055 5,000,000.00 5,000,000.00 01/26/20285.12501/26/2024 5,022,997.50 Aa246632FTS4 1,120

5.330MUTUAL OF OMAHA GLOBAL14040 4,500,000.00 4,518,437.48 12/12/20285.45012/12/2023 4,547,494.04 A162829D2B5 1,441

5.500BANK OF AMERICA CORP14050 5,000,000.00 5,000,000.00 01/23/20295.50001/23/2024 4,949,293.80 A106055JDD8 1,483

4.000CISCO SYSTEMS INC14101 5,000,000.00 5,157,485.71 02/26/20294.85009/06/2024 5,031,472.70 A117275RBR2 1,517

3.975BRISTOL MYER14110 5,000,000.00 4,881,446.55 07/26/20293.40009/26/2024 4,720,272.85 A2110122CP1 1,667 Portfolio PASD
APData Updated: SET_POOL: 01/27/2025 15:15
Run Date: 01/27/2025 - 15:15 PM2) 7.3.0
5

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4.750MUTUAL OF OMAHA GLOBAL14137 3,000,000.00 3,000,000.00 10/15/20294.75010/15/2024 2,953,570.32 A162829D2E9 1,748 96,008,860.5893,942,384.8696,433,000.0095,999,702.69Subtotal and Average 3.226 820 Commercial Paper Disc. -Amortizing

4.624BOFA SECURITIES INC CP14135 7,500,000.00 7,330,981.77 07/03/20254.38010/10/2024 7,329,180.00 A106054NU33 183 7,330,981.777,329,180.007,500,000.007,317,522.79Subtotal and Average 4.624 183 Treasury Discounts -Amortizing

4.788US TREASURY14104 10,000,000.00 9,908,878.07 03/13/20254.55009/12/2024 9,918,722.20 Aaa912797MT1 71

4.516US TREASURY14132 7,500,000.00 7,416,961.43 04/03/20254.30010/08/2024 7,419,901.05 Aaa912797MV6 92 17,325,839.5017,338,623.2517,500,000.0017,293,254.34Subtotal and Average 4.671 80 Supranationals

0.610INTL FINANCE CORP13957 5,000,000.00 4,999,921.22 02/28/20250.60009/28/2021 4,969,442.85 Aaa45950VQJ8 58

0.647INTL BK RECON & DEVELOP13903 5,000,000.00 5,000,000.00 02/10/20260.65002/10/2021 4,806,590.75 Aaa459058JS3 405

4.915INTL BK RECON & DEVELOP14058 5,000,000.00 4,992,876.11 01/12/20294.87501/31/2024 5,027,483.20 Aaa45906M4P3 1,472

4.316INTL BK RECON & DEVELOP14084 5,000,000.00 5,000,000.00 07/30/20294.75007/30/2024 5,008,390.65 Aaa45906M5K3 1,671

4.570INTL BK RECON & DEVELOP14089 5,000,000.00 5,000,000.00 09/04/20294.57009/04/2024 4,999,540.80 Aaa45906M5Q0 1,707

4.569INTL BK RECON & DEVELOP14098 5,000,000.00 5,000,000.00 09/04/20294.57009/05/2024 4,999,540.80 Aaa45906M5Q0 1,707

4.569INTL BK RECON & DEVELOP14099 5,000,000.00 5,000,000.00 09/04/20294.57009/06/2024 4,999,540.80 Aaa45906M5Q0 1,707

4.561INTL BK RECON & DEVELOP14134 2,600,000.00 2,599,752.08 09/04/20294.57010/09/2024 2,599,761.22 Aaa45906M5Q0 1,707 37,592,549.4137,410,291.0737,600,000.0037,592,455.35Subtotal and Average 3.533 1,279 807,154,174.03 824,642,109.79 3.308 755813,100,367.09 822,981,230.37Total and Average Portfolio PASD
APData Updated: SET_POOL: 01/27/2025 15:15
Run Date: 01/27/2025 - 15:15
6

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COMPLIANCE REPORT
Pooled Investment Portfolio
As of 12/31/24
Diversification Credit Quality Maturity
Portfolio State Gov't Portfolio Portfolio Credit Quality Portfolio % of total Code limits compliance Credit Quality per Gov Code compliance Maturity Collateralized Money Market 0.00% 100% In compliance 102% Collateral 102% Collateral In compliance In compliance Certificates of Deposit 0.00% 30% In compliance n/a n/a In compliance In compliance Municipal Bonds 7.63% 100% In compliance Aaa/Aa3/Aa2/Aa1/A2/AA+/AA-/AAA/AA A or better In compliance In compliance US Treasury Securities 6.34% 100% In compliance Aaa AA+/Aaa In compliance In compliance Corporate Bonds 11.48% 30% In compliance* Aaa/Aa1/Aa3/A1/A2/A3 A or better In compliance In compliance Amortized Zero Cpn Bonds 0.00% 30% In compliance* Aa1/A1/A2/A3 A or better In compliance In compliance Federal Agency Issues 55.44% 100% In compliance Aaa AA+/Aaa In compliance In compliance Supranationals 4.57% 30% In compliance Aaa AA or better In compliance In compliance Commercial Paper 0.90% 100% In compliance P-1 (Short-term)/A1/Aa1 P-1 (Short-term) In compliance In compliance Money Market-CAMP 12.47% 100% In compliance n/a n/a In compliance In compliance Money Market Fund-US Bank 0.40% 100% In compliance n/a n/a In compliance In compliance LAIF 0.16% 100% In compliance n/a n/a In compliance In compliance Cash 0.60% 100% In compliance Collateralized Collateralized In compliance In compliance 100.00%
Portfolio Value 823,742,327
7

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INVESTMENTS IN ISSUERS REPRESENTING OVER 5%

OF THE POOL PORTFOLIO
December 31, 2024
Market Value % of Total
FHLB 185,072,694 22.47%
FHLMC 147,519,091 17.91%
FFCB 90,567,674 10.99%
Total Fed Agencies 423,159,461 51.37%
OTHER PORTFOLIO INVESTMENTS 400,582,866 48.63%
Total Investments 823,742,327 * 100.00%
note: * Includes Cash in Bank and Accrued Interest Receivable 8

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Pooled Portfolio - Total Return Performance
ICE BofA Pooled
1-3 Index Portfolio
2005 Annual 1.746 2.073
2006 Annual 4.195 4.474
2007 Annual 6.706 5.736
2008 Annual 4.649 3.474
2009 Annual 3.784 3.398
2010 Annual 2.322 1.806
2011 Annual 1.540 1.490
2012 Annual 1.467 1.788
2013 Annual 0.696 0.417
2014 Annual 0.777 1.321
2015 Annual 0.671 1.087
2016 1st quarter 0.982 0.713
2nd quarter 0.660 0.350
3rd quarter 0.027 0.170
4th quarter -0.385 -0.520

1.284 0.713
2017 1st quarter 0.393 0.440
2nd quarter 0.303 0.419
3rd quarter 0.342 0.380
4th quarter -0.182 -0.059

0.856 1.180
2018 1st quarter -0.185 -0.097
2nd quarter 0.291 0.269
3rd quarter 0.354 0.431
4th quarter 1.166 1.038

1.626 1.641
2019 1st quarter 1.219 0.963
2nd quarter 1.480 1.054
3rd quarter 0.700 0.593
4th quarter 0.606 0.590

4.005 3.200
2020 1st quarter 1.590 0.495
2nd quarter 1.215 0.962
3rd quarter 0.274 0.287
4th quarter 0.227 0.236

3.306 1.980
2021 1st quarter -0.028 -0.467
2nd quarter 0.063 0.437
3rd quarter 0.088 0.085
4th quarter -0.533 -0.638
-0.410 - 0.583
2022 1st quarter -2.580 -2.910
2nd quarter -0.625 -0.842
3rd quarter -1.503 -1.713
4th quarter 0.890 0.821
-3.818 -4.644
2023 1st quarter 1.480 1.599
2nd quarter -0.341 0.995
3rd quarter 0.781 1.000
4th quarter 2.640 2.230

4.560 5.824
2024 1st quarter 0.450 0.934
2nd quarter 0.988 1.141
3rd quarter 2.940 2.047
4th quarter 0.011 0.703

4.389 4.825
Yield Fiscal YTD
Pooled Portfolio YTM 3.21%
State Treasurer's LAIF yield 4.52%
2 Year Average US Treasury yield 4.10%
9

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CITY POOLED PORTFOLIO
Portfolio Management
Distribution of Investments By Type - Historic
(By Market Values)
In %
Fiscal Year Total
June June June June June June June June 1st Qtr 2nd Qtr 3rd Qtr Investment Type 2016 2017 2019 2020 2021 2022 2023 2024 2025 2025 2025 Money Market 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Money Market Collateralized 7.25 3.97 1.59 11.73 6.76 0.00 0.00 0.00 0.00 0.00 Municipal Bonds 4.01 5.80 4.33 4.72 7.70 5.96 4.25 5.34 6.62 7.63 Corporate Bonds - Coupon 16.36 17.12 20.78 22.50 16.62 13.97 11.02 11.64 11.66 11.48 Agency CMOs/Mortgage Backed 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Federal Agency Issues - Coupon 49.70 55.86 54.14 34.00 47.35 48.79 57.84 52.89 53.63 55.44 Repurchase Agreements 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 L.A.I.F. 14.38 9.07 7.29 11.66 16.47 4.00 0.19 0.18 0.17 0.16 Cash 0.68 0.44 0.45 0.34 0.53 0.31 0.06 0.03 (0.05) 0.60 Treasury Securities 3.37 2.99 3.71 2.37 3.66 7.46 7.11 8.68 5.60 6.34 Treasury Securities Disc 0.00 0.00 0.00 0.00 0.00 1.54 1.48 0.00 0.00 0.00 Supranationals 4.25 3.76 5.89 8.24 0.80 3.73 4.27 4.68 4.42 4.57 Bank Notes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Federal Agency Discount 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Commerical Paper - Disc (Amortizing) 0.00 0.99 0.82 0.00 0.00 1.55 2.97 4.04 0.00 0.90 Money Market Fund-US Bank 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.40 Amortized Zero Cpn Bonds 0.00 0.00 0.00 0.00 0.00 0.77 0.00 0.00 0.00 0.00 Certificates of Deposit 0 0.00 0.00 1.00 0.00 0.00 0.20 0.19 0.17 0.00 0.00 Money Market-CAMP 0.00 0.00 0.00 3.89 0.12 11.72 10.61 12.36 17.96 12.47 Muni Variable Rate 0.00 0.00 0.00 0.54 0.00 0.00 0.00 0.00 0.00 0.00 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.00 10

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II. C
apital Endowment Portfolio

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CITY OF PASADENA
Capital Endowment Portfolio
Vicken Erganian
City Treasurer
December 2024

PORTFOLIO STRUCTURE AS OF 12/31/2024

TYPE MARKET VALUE PERCENT
Money Market - CAMP 122,278 6.05%
Federal Agencies 1,898,891 93.95%
TOTALS: 2,021,169 100.00%
Accrued Interest Receivable 9,170
GRAND TOTAL: 2,030,339
PORTFOLIO LIQUIDITY AS OF 12/31/2024
Percent of
Aging Interval Par Value Portfolio
0-30 Days 122,278 6.05%
31 days - 1 Year - 0.00%
1 - 2 Years - 0.00%
2 - 3 Years 1,900,000 93.95%
3 - 4 Years - 0.00%
4 - 5 Years - 0.00%
Over 5 Years - 0.00%
TOTAL: 2,022,278 100.00% -

PORTFOLIO STATISTICS
Dec-24 Nov-24 Oct-24 Sep-24 Aug-24 Jul-24
Month-End Mkt Value 2,030,339 2,023,457 2,015,660 2,007,636 1,999,079 1,988,845 Modified Duration 2.51 2.59 0.14 0.14 0.22 0.30
Weighted Average Maturity 2.73 2.81 0.06 0.14 0.22 0.30 Current Book Yield to Maturity 4.706% 4.714% 1.227% 1.241% 1.247% 1.247% Effective Yield - Year to Date 1.920% 1.370% 1.230% 1.230% 1.220% 1.220% Interest Earned 7,930 3,214 2,059 2,076 2,091 2,076 Fiscal Year To Date Interest Earned 19,446 11,516 8,302 6,243 4,167 2,076 Fair Value Change Gain/(Loss) (1,048) 4,583 5,965 6,481 8,143 10,152 Fiscal Year To Date change in fair value 34,275 35,324 30,741 24,776 18,295 10,152 Total Fiscal YTD earnings 53,721 46,840 39,042 31,018 22,462 12,228 MMF -
CAMP,

6.05%
Federal
Agencies,

93.95%
11

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YTM
365

Page 1 ends

Par Value Book Value
Maturity
Date
Stated
RateMarket Value
December 31, 2024
Portfolio Details - Investments
Average
BalanceIssuer
Portfolio Management

CAPITAL ENDOWMENT
Days to
MaturityMoody'sCUSIP Investment #
Purchase
Date
Money Market Fund-CAMP

4.796California Asset Management Pr14111 122,277.54 122,277.54 4.730122,277.54SYS14111 1 122,277.54122,277.54122,277.54122,254.72Subtotal and Average 4.796 1 Collateralized Money Market

4.800EAST WEST BANK13057 0.00 0.00 4.8000.00SYS13057 1

0.000.000.000.00Subtotal and Average 0.000 0
Federal Agency Issues - Coupon

4.700FED HOME LOAN MORTAGE CORP14157 1,900,000.00 1,900,000.00 11/26/20274.70011/26/2024 1,898,891.29 Aaa3134HAF40 1,059 1,900,000.001,898,891.291,900,000.001,900,000.00Subtotal and Average 4.700 1,059 2,022,254.72 2,022,277.54 4.706 9952,021,168.83 2,022,277.54Total and Average Portfolio PASD
APData Updated: FUNDSNAP: 01/23/2025 16:26
Run Date: 01/23/2025 - 16:27 PM (PRF_PM2) 7.3.0
Report Ver. 7.3.6.1
12

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COMPLIANCE REPORT
Capital Endowment Portfolio
As of 12/31/24
Diversification Credit Quality Maturity
Portfolio State Gov't Portfolio Portfolio Credit Quality Portfolio % of total Code limits compliance Credit Quality per Gov Code compliance Maturity Collateralized Money Market 0.00% 100% In compliance 102% Collateral 102% Collateral In compliance In compliance Money Market-CAMP 6.05% 100% In compliance n/a n/a In compliance In compliance Corporate Bond 0.00% 30% In compliance** Aa2 A or better In compliance In compliance Federal Agency Issues 93.95% 100% In compliance** Aaa AA+/Aaa In compliance In compliance 100.00%
Portfolio Value 2,030,339
**Compliance is measured based on the City's total investments which include the Pooled portfolio as well as the Power Reserve Fund. 13

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INVESTMENTS IN ISSUERS REPRESENTING OVER 5%

OF THE CAPITAL ENDOWMENT PORTFOLIO
December 31, 2024
Market Value % of Total
FHLMC 1,898,891 93.53%
Total 1,898,891 93.53%
OTHER PORTFOLIO INVESTMENTS 131,448 6.47%
Total Investments 2,030,339 * 100.00%
note: * Includes Accrued Interest Receivable
14

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CAPITAL ENDOWMENT
Portfolio Management
Distribution of Investments By Type - Historic
(By Market Values)
In %
Fiscal Year Total
June June June June June June June June June 1st Qtr 2nd Qtr 3rd Qtr Investment Type 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2025 2025 Money Market - Collateralized 100.00 1.80 0.75 0.03 1.10 3.10 3.38 0.00 0.00 0.00 0.00 Federal Agency Issues - Coupon 0.00 0.00 0.00 0.00 0.00 0.00 96.62 95.44 94.45 94.45 93.95 Corporate Bonds - Coupon 0.00 0.00 99.25 99.97 98.90 96.90 0.00 0.00 0.00 0.00 0.00 Municipal Bonds 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 L.A.I.F. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Certificate of Deposit 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Federal Agency Discount 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Treasury Securities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Agency CMOs/Mortgage Backed 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Commerical Paper - Disc (Amortizing) 0.00 98.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Asset Backed Securities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Mutual Funds 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Money Market - CAMP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.56 5.55 5.55 6.05 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.00 15

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III. Power Reserve Portfolio

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CITY OF PASADENA
Power Reserve Portfolio
Vicken Erganian
City Treasurer
December 2024

PORTFOLIO STRUCTURE AS OF 12/31/2024

TYPE MARKET VALUE PERCENT
Municipal Bonds 1,932,040 4.51%
Federal Agencies 24,699,274 57.63%
L.A.I.F. 45,838 0.11%
Money Market-CAMP 16,177,634 37.75%
TOTALS: 42,854,786 100.00%
Accrued Interest Receivable 241,375
GRAND TOTAL: 43,096,162
PORTFOLIO LIQUIDITY AS OF 12/31/2024
Percent of
Aging Interval Par Value Portfolio
0 - 30 days 16,223,472 31.88%
31 days - 1 Year - 0.00%
1 - 2 Years 2,000,000 3.93%
2 - 3 Years - 0.00%
3 - 4 Years 6,000,000 11.79%
4 - 5 Years - 0.00%
Over 5 Years 26,666,667 52.40%
TOTAL: 50,890,139 100.00%

PORTFOLIO STATISTICS
Dec-24 Nov-24 Oct-24 Sep-24 Aug-24 Jul-24
Month-End Market Value 43,096,162 43,684,821 43,262,822 44,012,608 43,555,387 43,005,001 Modified Duration 4.77 4.95 4.97 5.13 5.16 5.18
Weighted Average Maturity 6.60 6.67 6.75 6.83 6.91 7.00 Current Book Yield to Maturity 2.742% 2.785% 2.428% 2.476% 2.497% 2.491% Effective Yield - Year to Date 2.480% 2.440% 2.440% 2.450% 2.430% 2.420% Interest Earned 116,156 103,133 102,558 103,654 104,862 103,225 Fiscal Year To Date Interest Earned 633,588 517,432 414,299 311,741 208,087 103,225 Fair Value Change Gain/(Loss) (704,543) 319,137 (852,091) 353,566 445,795 636,554 Fiscal Year To Date change in fair value 198,417 902,960 583,823 1,435,915 1,082,348 636,554 Total Fiscal YTD Earnings 832,005 1,420,392 998,122 1,747,656 1,290,435 739,778 Money Market-
CAMP

1.03%
Fed Agency

57.63%
LAIF

0.11%
Municipal
Bonds

4.54%
16

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YTM
365

Page 1 ends

Par Value Book Value
Maturity
Date
Stated
RateMarket Value
December 31, 2024
Portfolio Details - Investments
Average
BalanceIssuer
Portfolio Management

POWER RESERVE FUND
Days to
MaturityMoody'sCUSIP Investment #
Purchase
Date
LAIF

4.430Local Agency Investment Fund6184 45,838.20 45,838.20 4.43045,838.20SYS6184 1 45,838.2045,838.2045,838.2045,838.20Subtotal and Average 4.430 1 Money Market Fund-CAMP

4.796California Asset Management Pr14063 16,177,634.24 16,177,634.24 4.73016,177,634.24SYS14063 1 16,177,634.2416,177,634.2416,177,634.2416,176,078.70Subtotal and Average 4.796 1 Collateralized Money Market

4.800EAST WEST BANK13066 0.00 0.00 4.8000.00SYS13066 1

0.000.000.000.00Subtotal and Average 0.000 0
Municipal Bonds

2.560LA County Redevelopment TABs13553 2,000,000.00 1,994,589.02 09/01/20262.37508/25/2016 1,932,040.00 Aa254465AGS5 608 1,994,589.021,932,040.002,000,000.001,994,462.47Subtotal and Average 2.560 608 Federal Agency Issues - Coupon

1.230Federal Farm Credit Bank13946 6,000,000.00 6,000,000.00 08/02/20281.23008/02/2021 5,346,271.62 Aaa3133EMX80 1,309

1.230Federal Farm Credit Bank13890 5,000,000.00 5,000,000.00 11/25/20301.23011/25/2020 4,125,115.90 Aaa3133EMHN5 2,154

1.850Federal Home Loan Bank13788 1,666,667.00 1,666,667.00 04/08/20321.85004/08/2020 1,358,909.46 Aaa3130AJEA3 2,654

2.000Federal Home Loan Bank13904 10,000,000.00 10,000,000.00 02/25/20362.00002/25/2021 7,370,051.20 Aaa3130AL3X0 4,072

2.000Federal Farm Credit Bank13875 10,000,000.00 10,000,000.00 10/15/20402.00010/15/2020 6,498,925.50 Aaa3133EMCV2 5,766 32,666,667.0024,699,273.6832,666,667.0032,666,667.00Subtotal and Average 1.733 3,717 50,883,046.37 50,890,139.44 2.742 2,41042,854,786.12 50,884,728.46Total and Average Portfolio PASD
APData Updated: FUNDSNAP: 01/13/2025 16:12
Run Date: 01/13/2025 - 16:12 PM (PRF_PM2) 7.3.0
Report Ver. 7.3.6.1
17

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COMPLIANCE REPORT
Power Reserve Portfolio
As of 12/31/24
Diversification Credit Quality Maturity
Portfolio State Gov't Portfolio Portfolio Credit Quality Portfolio % of total Code limits compliance Credit Quality per Gov Code compliance Maturity Collateralized Money Market 0.00% 100% In compliance 102% Collateral 102% Collateral In compliance In compliance Municipal Bonds 4.51% 100% In compliance Aa2 A or better In compliance In compliance Corporate Bonds 0.00% 30% In compliance Aaa A or better In compliance In compliance Federal Agency Issues 57.63% 100% In compliance Aaa AA+/Aaa In compliance In compliance Money Market-CAMP 37.75% 100% In compliance n/a n/a In compliance In compliance LAIF 0.11% 100% In compliance n/a n/a In compliance In compliance 100.00%
Portfolio Value 43,096,162
18

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INVESTMENTS IN ISSUERS REPRESENTING OVER 5%

OF THE POWER RESERVE PORTFOLIO
December 31, 2024
Market Value % of Total
FHLB 8,728,961 20.25%
FFCB 15,970,313 37.06%
Total Fed Agencies 24,699,274 57.31%
OTHER PORTFOLIO INVESTMENTS 18,396,888 42.69%
Total Investments 43,096,162 * 100.00%
note: * Includes Accrued Interest Receivable
19

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Power Reserve Portfolio - Total Return Performance
ICE BofA Power
5-7 Index Reserve
2005 Annual 0.980 2.615
2006 Annual 4.184 4.540
2007 Annual 7.656 6.960
2008 Annual 4.610 3.683
2009 Annual 3.784 3.714
2010 Annual 1.113 1.206
2011 Annual 1.555 2.547
2012 Annual 1.467 3.027
2013 Annual -0.143 -0.184
2014 Annual 2.446 2.688
2015 Annual 1.574 1.364
2016 1st quarter 2.420 1.197
2nd quarter 1.390 0.560
3rd quarter 0.080 0.190
4th quarter -1.840 -2.340

2.050 -0.393
2017 1st quarter 0.773 0.830
2nd quarter 0.873 0.803
3rd quarter 0.567 0.515
4th quarter -0.398 0.071

1.815 2.219
2018 1st quarter -0.890 -0.702
2nd quarter 0.013 0.284
3rd quarter 0.188 0.048
4th quarter 1.812 1.987

1.123 1.617
2019 1st quarter 2.245 1.538
2nd quarter 2.530 1.704
3rd quarter 1.196 0.877
4th quarter 0.430 0.460

6.401 4.579
**2020 1st quarter 1.594 0.950
2nd quarter 1.215 0.625
3rd quarter 0.274 0.249
4th quarter 0.227 0.249

3.31 2.073
2021 1st quarter -1.178 -2.549
2nd quarter 0.634 3.715
3rd quarter -0.037 -0.554
4th quarter -0.896 -0.015
-1.477 0.597
2022 1st quarter -5.970 -6.886
2nd quarter -3.282 -4.182
3rd quarter -4.420 -5.972
4th quarter 1.918 0.454
-11.754 -16.586
2023 1st quarter 2.980 2.517
2nd quarter -1.230 -0.212
3rd quarter -1.916 -2.378
4th quarter 5.827 6.459

5.661 6.386
2024 1st quarter -0.464 -0.452
2nd quarter 0.470 0.895
3rd quarter 5.210 4.140
4th quarter -2.940 -2.083
Yeld Fiscal YTD
Power Reserve YTM 2.69%
State Treasurer's LAIF yield 4.52%
2 Year Average Treasury yield 4.10%
Index changed to ICE BofA 5-7 in 2022
20

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POWER RESERVE FUND
Portfolio Management
Distribution of Investments By Type - Historic
(By Market Values)
In % Fiscal Year Total
June June June June June June June June June 1st Qtr 2nd Qtr 3rd Qtr Investment Type 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2025 2025 Money Market - Collateralized 7.43 0.02 4.34 2.58 32.06 0.08 0.00 0.00 0.00 0.00 0.00 Municipal Bonds 7.24 7.00 6.92 6.02 3.43 3.93 4.50 4.56 4.48 4.43 4.51 Federal Agency Issues - Coupon 77.86 79.82 82.96 85.12 51.22 57.67 75.33 72.13 70.30 70.65 57.63 L.A.I.F. 0.24 0.24 0.24 0.26 0.00 32.77 18.69 0.11 0.11 0.10 0.11 Corporate Bonds - Coupon 7.23 12.92 5.54 6.02 13.29 5.56 0.00 0.00 0.00 0.00 0.00 Certificate of Deposit 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Federal Agency Discount 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Treasury Securities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Agency CMOs/Mortgage Backed 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Commerical Paper - Disc (Amortizing) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Asset Backed Securities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Mutual Funds 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Money Market - CAMP 0.00 0.00 0.00 0.00 0.00 0.00 1.48 23.21 25.12 24.81 37.75 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.00 21

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IV. Miscellaneous Portfolios
22

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Fund Coupon Yield Maturity Face Value Cost Per Book Market Value City of Pasadena-Housing Succesor Agency
Money Mkt CAMP 4.730% 4.796% 1/1/2025 $2,547,746.75 $2,547,746.75 $2,547,746.75 LAIF 4.430% 4.430% 1/1/2025 $1.58 $1.58 $1.58
Weighted Average Maturity = 1 day $2,5 47,748.33 $2,547,748.33 $2,547,748.33 2002 Electric Revenue Reserve Fund
Money Mkt CAMP 4.730% 4.796% 1/1/2025 $17,018.17 $17,018.17 $17,018.17 FFCB 3133EMBH4 0.530% 0.530% 9/29/2025 $4,000,000.00 $4,000,000.00 $3,889,123.72 Weighted Average Maturity = .75 $4,0 17,018.17 $4,017,018.17 $3,906,141.89 Annandale Assessment District
Municipal Bonds-Annandale Assessment 6.000% 6.000% 9/2/2040 $856,735.00 $856,735.00 $856,735.00 Weighted Average Maturity = 15.90
2012
A Electric Parity Reserve Fund
Money Mkt CAMP 4.730% 4.796% 1/1/2025 $20,723.06 $20,723.06 $20,723.06 FFCB 3133EMBH4 0.530% 0.530% 9/29/2025 $690,000.00 $690,000.00 $670,873.84 Weighted Average Maturity = .73 $710 ,723.06 $710,723.06 $691,596.90 Miscellaneous Funds
December 31, 2024

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Fund Coupon Yield Maturity Face Value Cost Per Book Market Value Miscellaneous Funds
December 31, 2024
2013A Electric Parity Reserve Fund
Money Mkt CAMP 4.730% 4.796% 1/1/2025 $29,519.65 $29,519.65 $29,519.65 FFCB 3133ELC28 0.730% 0.730% 5/27/2025 $6,750,000.00 $6,750,000.00 $6,651,129.65 Weighted Average Maturity = .40 $6,7 79,519.65 $6,779,519.65 $6,680,649.30 2016A Electric Revenue Refunding Reserve
Money Mkt CAMP 4.730% 4.796% 1/1/2025 $72,235.14 $72,235.14 $72,235.14 FFCB 3133EMBH4 0.530% 0.530% 9/29/2025 $2,680,000.00 $2,680,000.00 $2,605,712.89 Weighted Average Maturity = .73 $2,7 52,235.14 $2,752,235.14 $2,677,948.03 2020A Water Refund Revenue Bonds Project
LAIF 4.430% 4.430% 1/1/2025 $4,874.09 $4,874.09 $4,874.09 Weighted Average Maturity = 1 day $4,874.09 $4,874.09 $4,874.09 2021A Water Refund Revenue Bonds Project
LAIF 4.430% 4.430% 1/1/2025 $15,088.08 $15,088.08 $15,088.08 Money Mkt CAMP 4.730% 4.796% 1/1/2025 $1,303.50 $1,303.50 $1,303.50 Weighted Average Maturity = 1 day $16, 391.58 $16,391.58 $16,391.58 GRAND TOTAL: $17,685,245.02 $17,685,245.02 $17,382,085.12

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V. Investments Held by Trustees

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Schedule of Funds Held by Trustees

CITY OF PASADENA
For Period Ending 12/31/2024 Market Yield 4.39%
Maturity 01/01/25
$ Amount
Trustee/Officer Issue Name Shares/Par Cost Market Maturity % Maturity Date Investment Value Valu e Date Yld
US Bank 2024A Rose Bowl Pasadena PFA Lease Revenue Bonds Ilse Vlach Interest Fund- Series 2024A Account #290083000 (213) 615-6051
Adriana Marshall Principal Fund- Series 2024A Account #2900083001 (213) 615-6033
COI Fund- Series 2024A Account #2900083002
Cash 24,245.43 24,245.43 24,245.43 01/01/ 25 0.00%
Total 24,245.43 24,245.43 24,245.43
Amy Green 2024A Electric Revenue Refunding Bonds
(213)630-6204 Bond Fund-2024A Account #000161623
Lena Chan DREFUS GOVT CM INST 289 Cusip: X9USDDGCM 90,805.46 90,805.46 90,805. 46 01/01/ 25 4.36% (213) 630-6253
Total 90,805.46 90,805.46 90,805.46
BNY 2021A Water Revenue Refunding Bonds
Amy Green COI-2021A Account #209092
(213)630-6204 Cash - - - 01/01/25 0.00%
Lena Chan Debt Service-2021A Account #209093
(213) 630-6253 Cash - - - 01/01/25 0.00%
Reserve-2021A Account #209094
DREFUS GOVT CM INST 289 Cusip: X9USDDGCM 886,536.19 886,536.19 886,536.19 01/ 01/25 4.35% Cash - - - 01/01/25 0.00%
Total 886,536.19 886,536.19 886,536.19
BNY 2020A Water Revenue Refunding Bonds
Amy Green COI-2020 Account #746583
(213)630-6204 Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS - - - 01/01/25 4.39% Lena Chan DEBT SERVICE-2020 Account #746585
(213) 630-6253 Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS - - - 01/01/25 4.39% Total - - -

Page 1 of 6 ends

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Schedule of Funds Held by Trustees

CITY OF PASADENA
For Period Ending 12/31/2024 Market Yield 4.39%
Maturity 01/01/25
$ Amount
Trustee/Officer Issue Name Shares/Par Cost Market Maturity % Maturity Date Investment Value Valu e Date Yld
2020AB POB Bonds
BNY POB COI-2020B Account #220413
Amy Green BlackRock Treasury Turst Dollars 63 Cusip: X9USDBTRD - - - 01/01/25 4.41% (213)630-6204 POB Bond Fund-2020B Account #220414
Lena Chan Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 1,670.38 1,670.38 1,670. 38 01/01/ 25 4.39% (213) 630-6253 POB Bond Fund-2020B Account #220415
Blackrock Tresus Trust Dollar 11 Cusip: X9USDBTRO 85.03 85.03 85.03 01/01/25 4.08% POB COI-2020A Account #765976
Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS - - - 01/01/25 4.39% POB Bond Fund-2020A Account #765990
Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 3,019.36 3,019.36 3,019.36 01/01/ 25 4.39% POB Bond Fund-2020A Account #765996
Blackrock Tresus Trust Dollar 11 Cusip: X9USDBTRO 185.15 185.15 185.15 01/01/25 4.08% Total 4,959.92 4,959.92 4,959.92
US Bank 2018AB Rose Bowl Pasadena PFA Lease Revenue Bonds Ilse Vlach Interest Fund- Series 2018A Account #248882000 (213) 615-6051 Fidelity Govt Protfolio CI Cusp:316175108 562.43 562.43 562.43 01/01/25 4.35% Adriana Marshall Costs of Issuance- Series 2018A Account #248882002 (213) 615-6033 Fidelity Govt Protfolio CI Cusp:316175108 - - - 01/01/25 4.35% Interest Fund- Series 2018B Account #248882100
Fidelity Govt Protfolio CI Cusp:316175108 61.07 61.07 61.07 01/01/25 4.35% Principal Fund- Series 2018B Account #248882101
Fidelity Govt Protfolio CI Cusp:316175108 867.22 867.22 867.22 01/01/25 4.35% Costs of Issuance- Series 2018B Account #248882102
Fidelity Govt Obl Fd Cl D 316175108 - - - 01/01/25 4.35% Total 1,490.72 1,490.72 1,490.72
2017A Water Revenue Bonds
BNY Debt Service-2017A Account #948165
Amy Green Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS - - - 01/01/25 4.39% (213)630-6204 Reserve Fund-2017A Account #948269
Lena Chan Federal Home Loan Banks Cusip: 3130AL3S1 1,050,000.00 1,050,000.00 1, 007,937.00 02/17/26 0.63% (213) 630-6253 DREYFUS CUSIP:X9USSGCM 47,175.35 47,175.35 47,175. 35 01/01/ 25 4.35% Total 1,097,175.35 1,097,175.35 1,055,112.35

Page 2 of 6 ends

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Schedule of Funds Held by Trustees

CITY OF PASADENA
For Period Ending 12/31/2024 Market Yield 4.39%
Maturity 01/01/25
$ Amount
Trustee/Officer Issue Name Shares/Par Cost Market Maturity % Maturity Date Investment Value Valu e Date Yld
US Bank 2016A Rose Bowl Pasadena PFA Lease Revenue Bonds Ilse Vlach Interest Fund- Series 2016A Account #264433000 (213) 615-6051 Fidelity Govt Protfolio CI Cusp:316175108 223.84 223.84 223.84 01/01/25 4.35% Principal Fund- Series 2016A Account #264433001
Fidelity Govt Protfolio CI Cusp:316175108 3,197.91 3,197.91 3,197.91 01/01/ 25 4.35% Adriana Marshall
Insurance & Condemnation Fund- Series 2016A Account
#264433002
(213) 615-6033 Fidelity Govt Obl Fd Cl D 316175108 0.19 0.19 0.19 01/01/25 4.35% Cost of Issuance- Series 2016A Account #264433003
First American Govt Obl Fd Cl D 31846V401 - - - 01/01/25 4.35% Total 3,421.94 3,421.94 3,421.94
BNY Pasadena 2015A COPS Bond
Amy Green COPS Base Rental-2015A Account #336964
(213)630-6204 Cash Balance - - - 01/01/25 0.00%
Lena Chan Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS - - - 01/01/25 4.39% (213) 630-6253 Total - - -
BNY Pasadena Tax Pension 2015AB Bond
Amy Green Bond Fund-2015A POB Account #479226
(213)630-6204 Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 637.37 637.37 637.37 01/01/25 4.39% Lena Chan Cash Balance - - - 01/01/25 0.00%
(213) 630-6253 Bond Fund-2015A POB Account #479227
Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 258.11 258.11 258.11 01/01/25 4.39% Cash Balance 01/01/25 0.00%
Bond Fund-2015A POB Account #479231
Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 1,481.96 1,481.96 1,481.96 01/01/ 25 4.39% Cash Balance - - - 01/01/25 0.00%
Bond Fund-2015A POB Account #479232
Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 34.28 34.28 34.28 01/01/25 4.39% Cash Balance
Total 2,411.72 2,411.72 2,411.72

Page 3 of 6 ends

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Schedule of Funds Held by Trustees

CITY OF PASADENA
For Period Ending 12/31/2024 Market Yield 4.39%
Maturity 01/01/25
$ Amount
Trustee/Officer Issue Name Shares/Par Cost Market Maturity % Maturity Date Investment Value Valu e Date Yld
BNY Pasadena Water Revenue 2010AB
Amy Green 2010 A Parity Reserve Account #286245
(213)630-6204 DREYFUS CUSIP:X9USSGCM 35,330.92 35,330.92 35,330.92 01/ 01/25 4. 35% Lena Chan Federal Home Loan Bank CUSIP:3130AL3S1 1,350,000.00 1,350,000.00 1,295, 919.00 02/ 17/26 0.63% (213) 630-6253 Cash - - - 01/01/25 0.00%
2010 B Debt Service Account #286247
Cash - - - 01/01/25 4.19%
2010 B Parity Reserve Account #286248
DREYFUS CUSIP:X9USSGCM 10,334.29 10,334.29 10,334.29 01/01/25 4. 35% Federal Home Loan Bank CUSIP:3130AL3S1 300,000.00 300,000.00 287,982.00 02/17/ 26 0.63% Cash - - - 01/01/25 0.00%
2010 A Debt Service Fund Account #286295
Cash - - - 01/01/25 0.00%
Total 1,695,665.21 1,695,665.21 1,629,566.21
US Bank 2010 Rose Bowl Pasadena PFA Lease Revenue Bonds Ilse Vlach Interest Fund (S631591)
(213) 615-6051 Fidelity Instl Mm Fds Government I CUSIP:316175108 5,654.56 5,654.56 5,654.56 01/ 01/25 4. 35% Lindsey K Tonsfeldt Cash - - - 01/01/25 0.00%
(651) 466-5114 Principal Fund (S631592)
[email protected] Fidelity Instl Mm Fds Government I CUSIP:316175108 3.48 3.48 3.48 01/01/25 4. 35% Bond Reserve Fund (S631593)
Federal Home Loan Bank Funds CUSIP: 3130ALBD5 - - - 02/25/41 2.15% Fidelity Instl Mm Fds Government I CUSIP:316175108 315,839.30 315,839.30 315,839.30 01/01/ 25 4.35% Cash - - - 01/01/25 0.00%
Total 321,497.34 321,497.34 321,497.34
Computershare Corporate Trust PPFA (Paseo Colorado Parking Facilities) 2008 Tracy Mason Bond Fund Account #23200100
(213) 253-7536 Allspring Government Money Market Service 72,292.30 72,292.30 72,292.30 01/ 01/25 4. 70% (667)786-1241 Cash - - - 01/01/25 0.00%
Reserve Fund Account #23200101
teresalynn.mason1@computershFHLB Cusip: 3130APVC6 2,000,000.00 2,000,000.00 1,891,020.00 12/ 01/26 1.38% Well Fargo Advantage Government Money Market Service - - - 01/01/25 0.01% Cost of Issuance Fund Account #23200103
Well Fargo Advantage Government Money Market Service - - - 01/01/25 0.00% Total 2,072,292.30 2,072,292.30 1,963,312.30

Page 4 of 6 ends

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Schedule of Funds Held by Trustees

CITY OF PASADENA
For Period Ending 12/31/2024 Market Yield 4.39%
Maturity 01/01/25
$ Amount
Trustee/Officer Issue Name Shares/Par Cost Market Maturity % Maturity Date Investment Value Valu e Date Yld
BNY Pasadena 2006,2008,2015 COP Reserves
Amy Green Reserve Account #281635
(213)630-6204 Federal Home Loan Banks CUSIP:3130AKKQ8 4,950,000.00 4,950,000.00 4, 053,852.00 12/23/30 1.25% Lena Chan Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 196,895.66 196,895.66 196,895. 66 01/ 01/25 4.39% (213) 630-6253 Cash - - - 01/01/25 0.00%
Total 5,146,895.66 5,146,895.66 4,250,747.66
Pasadena 2008AB COPS, 15A Parity Reserve
BNY Reserve Fund #281207
Amy Green Federal Home Loan Banks CUSIP:3130AKKQ8 1,325,000.00 1,325,000.00 1, 085,122.00 12/23/30 1.25% (213)630-6204 Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 52,704.49 52,704.49 52,704. 49 01/01/ 25 4.39% Lena Chan Cash Balance - - -
(213) 630-6253 Total 1,377,704.49 1,377,704.49 1, 137,826.49 BNY Pasadena 2008A COPS
Amy Green Base Rental Fund #281732
(213)630-6204 Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 279,190.03 279,190.03 279,190. 03 01/ 01/25 4.39% Lena Chan Cash Balance - - - 0.00%
(213) 630-6253 Interest Fund #281733
Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 57.59 57.59 57.59 01/01/25 4.39% Letter of Credit #281734
Bank of America CUS: S86494570 1.00 1.00 1.00 03/31/25 0.00% Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 14.05 14.05 14.05 01/01/25 4.39% Total 279,262.67 279,262.67 279,262.67
BNY Pasadena Conf Ctr 2006AB
Amy Green Reserve Fund #281722
(213)630-6204 Federal Home Loan Banks CUSIP:3130AJRH4 10,800,000.00 10,800,000.00 7, 173,252.00 06/29/40 2.07% Lena Chan Federal Home Loan Banks CUSIP:3130AKKQ8 270,000.00 270,000.00 221,119. 20 12/ 23/30 1.25% (213) 630-6253 Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 721,796.27 721,796.27 721,796. 27 01/ 01/25 4.39% Cash Balance - - - 01/00/00 0.00%
Total 11,791,796.27 11,791,796.27 8,116,167.47

Page 5 of 6 ends

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Schedule of Funds Held by Trustees

CITY OF PASADENA
For Period Ending 12/31/2024 Market Yield 4.39%
Maturity 01/01/25
$ Amount
Trustee/Officer Issue Name Shares/Par Cost Market Maturity % Maturity Date Investment Value Valu e Date Yld
BNY Pasadena Water Revenue 2003
Amy Green Parity Reserve Account #281651
(213)630-6204 Federal Home Loan Banks CUSIP: 3130AL3S1 1,000,000.00 1,000,000.00 959, 940.00 02/ 17/26 0.63% Lena Chan DREYFUS GOVT CM INST 289 CUSIP: X9USDDGCM 32,217.50 32,217.50 32,217. 50 01/01/ 25 4.35% (213) 630-6253 Cash - - - 01/01/25 0.00%
Total 1,032,217.50 1,032,217.50 992,157.50
BNY COPS Parity Reserve Fund(2006A, and 2008ABC COP)
Amy Green Certificate Reserve #281143
(213)630-6204 Federal Home Loan Banks CUSIP: 3130AKKQ8 2,025,000.00 2,025,000.00 1, 658,394.00 12/23/30 1.25% Lena Chan Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 80,549.80 80,549.80 80,549. 80 01/01/ 25 4.39% (213) 630-6253 Cash - - - 01/01/25 0.00%
(In aggegrate with 2006A, Total Funds 2,105,549.80 2,105,549.80 1, 738,943.80 and 2008ABC COP reserve)
SCPPA SCPPA Investments
Atif Haji Datoo SCPPA Project Stabilization Fund
(213) 367-4668 Fidelity Inst MMKT GOVT 57CUSIP:X9USDFIN 209,218.40 209,218.40 209,218. 40 01/ 01/25 4.36% Fidelity Inst MMKT GOVT 57CUSIP:X9USDFIN 1,125,627.36 1,125,627.36 1,125,627.36 01/01/25 4.36% Federal Home Loan Bank CUSIP: 3130B3YT4 3,000,000.00 3,000,000.00 2,998,020.00 06/05/26 4.55% Federal Home Loan Mortgage Corp CUSIP: 3134HAU43 1,000,000.00 997,500.00 997,070.00 12/ 18/209 4.63% - - - 0.00%
Total 5,334,845.76 5,332,345.76 5,329,935.76
TOTAL FUND BALANCE 33,268,773.73$ 33,266,273.73$ 27,828,400.93$

Page 6 of 6 ends

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VI. PARS Section 115 Trust

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City of Pasadena
PARS Section 115 Trust
For the Month Ended December 31, 2024
Pension Account 6746056200
Mayket Value Book Value
Beginning Balance 13,896,586.55 13,671,061.79
Activity
Contributions - -
Disbursements - -
Total - -
Net Investment Income
Dividends 90,089.04 90,089.04
Interest 1,630.41 1,630.41
Other Income 6.89 6.89
Change in Accrued Income 252.03 252.03
Total Investment Income 91,978.37 91,978.37
Net Change in Unrealized Gain/Loss (461,359.32) -
Realized Gain/Loss 78,766.26 78,766.26
Total Mayket Value Adjustment (382,593.06) 78,766.26
Trust Fees (2,906.96) (2,906.96)
PARS Fee (Net of Depository Earnings) (2,612.84) (2,612.84) Unreconciled Difference - -
Total (5,519.80) (5,519.80)
Ending Balance 13,600,452.06 13,836,286.62
1 Year Inception To Date
Investment Return (Inception-To-Date as of 12/31/2024) 6.72% 4.37% Asset Allocation
Market Value Percentage
Cash and Equivalents 551,701.60 4.06%
Equity 4,077,643.98 29.98%
Fixed Income 8,969,224.04 65.95%
Accrued Income 1,882.44 0.01%
Total 13,600,452.06 100.00%
Account Manager:

Kyra Clarke
3121 Michelson Dr 3rd Fl
Irvine, CA 92612
949-224-7214, [email protected]
Cash and Equivalents

4.06%
Equity

29.98%
Fixed Income

65.95%
Accrued Income

0.01%
31

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City of Pasadena
PARS Section 115 Trust
For the Month Ended December 31, 2024
Post Employments Benefits Trust 6746056201
Mayket Value Book Value
Beginning Balance 2,632,496.44 2,588,985.50
Activity
Contributions - -
Disbursements - -
Total - -
Net Investment Income
Dividends 17,085.14 17,085.14
Interest 302.72 302.72
Other Income - -
Change in Accrued Income 14.63 14.63
Total Investment Income 17,402.49 17,402.49
Net Change in Unrealized Gain/Loss, Fee Receipts & Deliveries Net (87,758.94) - Realized Gain/Loss 14,916.68 14,916.68
Total Mayket Value Adjustment (72,842.26) 14,916.68
Trust Fees (551.07) (551.07)
PARS Fee (Net of Depository Earnings) (494.96) (494.96) Unreconciled Difference - -
Total (1,046.03) (1,046.03)
Ending Balance 2,576,010.64 2,620,258.64
1 Year Inception To Date
Investment Return (Inception-To-Date as of 12/31/2024) 6.75% 4.41% Asset Allocation
Marrket Value Percentage
Cash and Equivalents 87,802.68 3.41%
Equity 783,570.08 30.42%
Fixed Income 1,704,320.53 66.16%
Accrued Income 317.35 0.01%
Total 2,576,010.64 100.00%
Account Manager:

Kyra Clarke
3121 Michelson Dr 3rd Fl
Irvine, CA 92612
949-224-7214, [email protected]
Cash and Equivalents

3.41%
Equity

30.42%
Fixed Income

66.16%
Accrued Income

0.01%
32

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INFORMATION ONLY
ITEM 5

5. LIBRARY GENERAL OBLIGATION BONDS UPDATE

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Library General Obligation Bonds
March 17, 2025

Page 1 of 4 ends

March 1
7, 2025
TO: Financ
e Committee
FROM: D
epartment of Finance
SUBJECT: LIBRARY GENERAL OBLIGATION BONDS UPDATE
RECOMMENDATION:

This r
eport is for information only.

BACKGROUND:

Constr
ucted in 1927, the Pasadena Central Library, designed by Myron Hunt and H.C.

Chambers, was the first building completed in Pasadena's Civic Center Plan. Listed on the National Register of Historic Landmarks, the Civic Center consists of the Central Library, City Hall, and the Civic Auditorium. The Central Library is comprised of two stories above grade and a basement story below grade and is approximately 120,000 square feet in area.

With t
he Central Library approaching its centennial birthday in 2027, an assessment of the building’s condition and its various systems was completed in 2020. The project provided a general assessment of necessary repairs to various building systems to include mechanical, plumbing, electrical, roof, and design of a new fire alarm and fire sprinkler system. The inspection discovered that the building consists of an unreinforced masonry structure, with walls that are not fastened to the building’s foundation, nor to the reinforced concrete floor beams and the timber roof they support. As such, a preliminary structural analysis of the building was completed in April 2021, revealing that the building does not meet the recommended structural performance objectives in a seismic event.

On May 3
rd, 2021, City officials were forced to close the Central Library until earthquake retrofit and building repairs could be completed to meet life safety requirements. The structural assessment revealed it was vulnerable to seismic activity and subject to collapse during an earthquake.

On Februar
y 6, 2023, at the regularly scheduled meeting, the Pasadena City Council approved a contract to move forward and begin the process of seismically retrofitting and making building repairs to the Pasadena Central Library. Gruen Associates and their qualified team of sub-consultants were awarded the contract for professional

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Library General Obligation Bonds
March 17, 2025

Page 2 of 4 ends

design services for the retrofit project. This includes preparation of environmental documentation, final construction drawings, and cost estimates for construction.

On June 10,
2024, the City Council approved a recommended scope of work for the project that would lift the red tag, so the Library can open its doors to the community again, provide functional enhancements to address community needs; flexibility for the future; and replacement of outdated technology and critical buildings systems that are near the end of their useful life.

On July
22, 2024, the City Council adopted a Resolution of Necessity and conducted a First Reading of an Ordinance to submit a bond measure to voters in the November 5, 2024, General Election for the purpose of financing the Central Library earthquake retrofit, repairs, and upgrades. At a special meeting on July 29, 2024, the City Council approved further resolutions, conducted a second reading of the Ordinance, and adopted the Ordinance finalizing the submission of this bond measure to the ballot.

In Novembe
r 2024, Pasadena voters approved Measure PL, a $195 million General Obligation (GO) Bonds measure, to fund the construction phase of the project, reaffirming the City's commitment to both preserving the Central Library and enhancing its role as a vital community resource. The Central Library Seismic Retrofit and Renovations project is currently in the design phase, led by Gruen Associates, with a team that includes a historic preservation consultant to ensure that the seismic retrofitting respects the building's architectural significance. Additionally, independent oversight of the design process is provided by the Mayor appointed Technical Oversight Committee. The retrofit will include upgraded foundations and concrete shear wall reinforcement to protect the structure from future seismic events, along with necessary replacement of outdated building systems and technology. The renovation will also create more flexible spaces to meet the evolving needs of the community. Pending appropriation of funds, construction is anticipated to begin in the Summer of 2025 and last approximately 30-to-36 months with the re-opening to occur in 2028.

To addres
s the disruption caused by the library's closure, staff is working diligently to expedite the project's timeline to ensure the library can reopen as soon as possible.

While the closure has undeniably impacted the community, the seismic retrofit, repairs, and renovations will ultimately preserve and enhance the library's role as a cornerstone of Pasadena's educational, cultural, and civic life. The City is committed to re-opening the doors of Pasadena’s Central Library as a safe, historic, and functional space for all.

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Library General Obligation Bonds
March 17, 2025

Page 3 of 4 ends

The Financing
The GO Bon
d Financing Team was assembled in early 2024 to prepare the placement of the ballot measure on the November 5, 2024, election. The team began its formal work to issue bonds immediately after the voters approved the GO Bonds. The team comprises of City Finance staff, Norton Rose Fulbright LLP as bond and disclosure counsel, and Urban Futures as Municipal Advisor. Norton Rose Fulbright was selected in the past as apart of a Request For Qualification process to act as bond and disclosure counsel on General Fund issued financings. Urban Futures was selected through a Request For Proposal Process specifically for the GO Bonds. Since these bonds will be competitively sold, an underwriter is not part of the financing team.

In accordance with Section 909 of the City Charter, the GO bonds will be sold on a competitive basis and awarded to the lowest bidder after advertising for sealed proposals; provided that the City Council may reject any and all bids. The term of the GO bonds will be thirty -years and the bonds will be issued as fixed rate bonds.

Additionally, the bonds will be issued with a call date, likely at year ten, to evaluate opportunities to refund.

The financing team reviewed several options related to the timing and structure of the financi
ng. An evaluation of issuing the total amount over two issuances was considered, but the cost of issuance and concerns regarding federal tax policy were deterrents to that option. Additionally, the team considered shorter debt duration; however, that would increase the annual debt service requirement and tax levy on property owners.

The Financ
ing schedule has been set and on April 7, 2025, staff will present to the City Council for approval the final financing documents and get authorization for the bond sale, which is expected to be on Wednesday April 23, 2025. The closing of the bond sale and financing transaction is estimated to be during the second week of May 2025.

On or before the first Monday of September in each year, the City Council shall, by ordinance, fix the tax rate, and shall, by ordinance, establish procedures for tax collection and enforcement. The City Council shall fix a tax rate, which will raise sufficient monies, when added to all other estimated income and revenue, to meet the adopted budget requirements for annual debt service.

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INFORMATION ONLY
ITEM 6

6. ROSE BOWL OPERATING COMPANY FINANCIAL UPDATE

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TO:

FROM:

SUBJECT:

DEPARTMENT OF FINANCE
March 17, 2025
Finance Committee
Matthew E. Hawkeswort /�
Director of Finance
Rose Bowl Operating Company Financial Update
Per Section 7.3.10.c of the Operating Agreement with the Rose Bowl Operating Company (RBOC), the attached financial updates; Flash Reports and Facility Statement of Operations, are being shared with the Finance Committee.

The Fiscal Year (FY) 25 Facility Statement of Operations Q2 report highlights the year end forecast for FY 25 through the second quarter (Q2). Since this report is through Q2, it does not have the impacts of the Rose Bowl Game or the Fire/Windstorm, except for the Flea Market cancellation in January. The FY 25 Budget projected reserves ending the year at $5.4 million and available cash at $10.4 million; however, the FY 25 Forecast at the end of Q2 reflects reserves ending the year at $6.6 million and available cash at $6.9 million. While the reduction of available cash is worth noting, it should be taken in context that their reserve forecast has increased due to the event mix and is fully funded. In speaking with the staff at the RBOC, the cancelled concert in January was not in the original budget, so it does not impact the forecast as compared to budget.

In reviewing the actuals and forecasts of the two reports attached, golf complex expenditures are projected to finish higher than the original budget, mainly due to transitional costs of changing operational management companies and increased water expenditures for irrigation. Due to water restrictions and tier levels, most of the water usage for the courses is in the tier 3 rates, whereas it was billed in the tier 2 rates in the prior year; the course did not increase water usage. Revenues were down related to displacement events as there are five instead of eight music festival buyout dates planned.

For stadium related events, UCLA premium seating realized growth over the prior year, but the increase was not as much as anticipated with the transition to the Big 10 Conference. The mix of concert and soccer matches shifted quite a bit compared to the original budget, but from a net event income standpoint, it improved by $230,000.

Enterprise event net income was forecasted to fall short of the budget by approximately $300,000 and that amount is expected to grow once the third quarter data is included.

Based on the Q2 reports and conversations related to the impact in Q3 from the Rose Bowl and Fire/Windstorm, the RBOC's financial position will not be as strong as

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Rose Bowl Operating Company Financial Update
March 17, 2025

Page 2 of 2 ends

anticipated, but still in a strong position with fully funded operating reserves and the cash in the fund balance is more than the reserves.

Attach
ments: (2)
A – Flash Reports for Golf: October - December 2024
B – FY 25 Facility Statement of Operations Q2 (Draft)

Page 97 ends

Docusign Envelope ID: C09DO01 F-970B-4C06-B32B-29BCB6E3C3A4 1-i11lel' ut •,!
ll II Ni: r
·,,..,,, r,1o·h11·ni'-t,11,i ,1H.(J'Tl
u,r;., lh'.!•d i-:--il;'t ' I .. \ t1;1,\1 .tn·,_r,(',<).:! Agenda Report
February 26, 2025
TO: Rose Bowl Operating Company (through Finance Committee) FROM: Jens Weiden, Chief Executive Officer
SUBJECT: Flash Reports
Recommendation:

This is an informational item only.

Background:

Following are Draft Flash Reports for:

Golf October-December 2024
"Flash Reports" are based on preliminary information for a particular month and in the case of Stadium events, are followed-up by complete "Event Settlements" which in turn, are used to produce tenant/promoter invoices and financial statements.

Further detail on these reports is available upon request.

Fiscal Impact:

The fiscal impact for each of the aforementioned events and revenue sources is shown in the attached reports.

Respectfully submitted by: Prepared by:
�DocuSlgned by:

L�2B��
Jens Weiden, CEO Mo Salama, CFO
Attachment A

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GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 2/26/2025
Variance YTD
% of 12 MONTHS December '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Current Month YTD
12/31/2024 12/31/2024

DETAILS GOLF COURSE
Golf Revenues:

DF/Gst-Greens 406,201 388,000 18,201 2,401,743 2,298,000 103,743 DF/Gst-Greens No Show - -
Tournament-Greens 46,653 35,000 11,653 385,292 355,000 30,292 DF/Gst-Carts 122,203 120,000 2,203 862,766 766,000 96,766 DF/Gst-Carts Employee - -
Trn-Carts - -
Driving Range-Range Fees 13,520 13,000 520 85,781 70,000 15,781 Driving Range-Key - -
Driving Range-Tournament - -
Driving Range-Player's Club 55,519 53,000 2,519 342,082 314,000 28,082 Other Golf-Club Rental - -
Other Golf-Reservation - -
Misc. Operating Income (1,104) - (1,104) 20,
241 - 2
0,241
Total Golf Revenues 642,991 609,000 33,991 4,097,905 3,803,000 294,905 8% 7,427,000 3,431,000 Golf Expenses:

Payroll and Related Expenses (236,826) (201,403) (35,423) (1,468,300) (1,194,683) (273,617) General and Admin (2,891) (1,450) (1,441) (42,122) (8,700) (33,422) Leases (46,678) (40,000) (6,678) (256,367) (235,000) (21,367) Routine Repairs & Maintenance (30,681) (13,000) (17,681) (144,462) (141,750) (2,712) Management Fee Expense (35,417) (35,417) - (212,502) (212,502) - Other Oper. Expenses (34,041) (39,650) 5,609 (320,702) (177,650) (143,052) Utilities-Water (52,093) (60,000) 7,907 (872,988) (650,000) (222,988) Utilities-Power/Nat Gas (22,667) (29,850) 7,183 (135,383) (179,100) 43,717 Utilities-Telephone - (2,348) - (2
,348)
Utilities-Security System - - - -
Util
ities-TV Cable - - - -
Util
ities-Waste Removal (5,202) (4,150) (1,052) (33,442) (26,400) (7,042) Total Golf Expense (466,496) (424,920) (41,576) (3,488,616) (2,825,785) (662,831) 23% (5,571,000) (2,313,801) Golf Operations Only (Net) 176,495 184,080 (7,585) 609,289 977,215 (367,926) -38% 1,856,000 1,117,199

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OTHER NON-GOLF REVENUES
Golf Displacement offset
(eg Net parking and golf closure) -$ - $ -$ 250,700$ 592,000$ (341,300)$ 1,398,000 498,000 Displacement/Parking Net events YTD: FY23 had 10 events vs FY22 had 2 events.

Events (Net) NOW STADIUM BUDGET -$ -$ -$ -$
-$
-$
-$ (6,794)$
Food & Beverage (Net)
Food & Beverage Subtotal 33,588 133,254 (99,666) 173,073 512,949 (339,876) -66% 724,000 362,403 - -
Lessons (Net) 1,900 1,800 100 9,100 10,800 (1,700) 20,400 10,180 Pro Shop (Net) 32,615 16,625 15,990 110,830 108,250 2,580 220,600 96,291 (est to budget)
Golf Complex Net Income 244,598 335,759 (91,160) 1,152,992 2,201,214 (1,048,222) -48% 4,219,000 2,067,099 Overhead Expenses (YTD Estiamtes) (284,693) (278,541) (6,152) (557,082) (701,211) Cost Recovery/Interest - - - - -
Set Aside for Capital (364,990) (350,875) (14,115) (585,390) (340,415) GOLF COURSE COMPLEX -YTD TOTAL 244,598 335,759 (91,160) 503,309 1,571,798 (1,068,489) 3,076,528 1,025,474 - - - -

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GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 2/26/2025
Variance YTD
% of 12 MONTHS November '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Golf Operations Only (Net) 38,863 $ 1 88,081 $ (149,218) 432,795$ 793,137 $ (360,342) -45% 1,856,000 856,258 $ Golf Displacement offset
(eg Net parking and golf closure)
92,720 105,000 (12,280) 250,700 592,000 (341,300) -58% 1,398,000 498,000 Events (Net) NOW STADIUM BUDGET - - - - - - #DIV/0! - (6,794) S
ubtotal: 131,583 293,081 (161,498) 683,495 1,385,137 (701,642) -51% 3,254,000 1,347,464 Food & Beverage (Net) 22,535 105,889 (83,354) 139,485 379,696 (240,211) -63% 724,000 # 254,981 Lessons (Net) 2,050 1,800 250 7,200 9,000 (1,800) -20% 20,400 # 8,055 Pro Shop (Net) 16,512 19,125 (2,613) 78,215 91,625 (13,410) -15% 220,600 # 75,100 Golf Complex Net Income 172,680 419,895 (247,215) 908,395 1,865,458 (957,063) -51% 4,219,000 # 1,685,600 Overhead Expenses (YTD Estimates) (236,732) (232,118) (4,614) (557,082) (584,342) Cost Recovery/Interest - - - - - . .

Set Aside for Capital (311,800) (298,470) (13,330) 4% (585,390) (289,570) TOTAL RENT - GOLF COURSE COMPLEX 172,680 $ 419,895 $ (247,215)$ 359,863$ 1,334,870$ (975,006)$ 3,076,528$ # 811,688$ Variance from Prior YTD: (451,824)$ -56%
Statistical Summary:

Monthly Rounds 10,117 11,483 (1,366) 62,360 59,694 2,666 4% 140,200 57,914 Playable Days 26 26 0 145 124 21 310 127
Rounds/Day 389 442 (53) 430 481 (51) 452 456
Avg Green fee + Cart fee Per Round 51.96 $ 49.46 $ 2.50$ 49.31$ 48.18$ 1.13$ 47.60$ 46.12$ Average Range Fees Per Round 6.82 $ 5.57 $ 1.25$ 5.75$ 5.33$ 0.42$ 5.38$ 5.76$ T
otal Revenue Per Round 58.78 $ 55.03 $ 3.75$ 55.06$ 53.51$ 1.55$ 3% 52.98 $ 51.88$ Current Month YTD
11/30/2024 11/30/2024

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GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 2/26/2025
Variance YTD
% of 12 MONTHS November '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Current Month YTD
11/30/2024 11/30/2024

DETAILS GOLF COURSE
Golf Revenues:

DF/Gst-Greens 328,378 378,000 (49,622) 1,995,542 1,910,000 85,542 DF/Gst-Greens No Show - -
Tournament-Greens 75,371 65,000 10,371 338,639 320,000 18,639 DF/Gst-Carts 121,881 125,000 (3,119) 740,563 646,000 94,563 DF/Gst-Carts Employee - -
Trn-Carts - -
Driving Range-Range Fees 12,508 12,000 508 72,261 57,000 15,261 Driving Range-Key - -
Driving Range-Tournament - -
Driving Range-Player's Club 56,474 52,000 4,474 286,563 261,000 25,563 Other Golf-Club Rental - -
Other Golf-Reservation - -
Misc. Operating Income (178) -
(178) 21,346 - 2
1,346
Total Golf Revenues 594,434 632,000 (37,566) 3,454,914 3,194,000 260,914 8% 7,427,000 2,863,000 Golf Expenses:

Payroll and Related Expenses (238,841) (201,403) (37,438) (1,231,474) (993,280) (238,194) Gener
al and Admin (4,847) (1,450) (3,397) (39,231) (7,250) (31,981) Leases (43,781) (39,000) (4,781) (209,689) (195,000) (14,689) Routine Repairs & Maintenance (14,487) (25,750) 11,263 (113,781) (128,750) 14,969 Management Fee Expense (35,417) (35,417) - (177,085) (177,085) - Other Oper. Expenses (65,192) (26,900) (38,292) (286,661) (138,000) (148,661) Utilities-Water (126,586) (80,000) (46,586) (820,895) (590,000) (230,895) Utilities-Power/Nat Gas (20,901) (29,850) 8,949 (112,716) (149,250) 36,534 Utilities-Telephone - (2,348) - (2
,348)
Utilities-Security System - - - -
Util
ities-TV Cable - - - -
Util
ities-Waste Removal (5,519) (4,150) (1,369) (28,240) (22,250) (5,990) Total Golf Expense (555,571) (443,920) (111,651) (3,022,120) (2,400,865) (621,255) 26% (5,571,000) (2,006 ,742) Golf Operations Only (Net) 38,863 188,080 (149,217) 432,794 793,135 (360,341) -45% 1,856,000 856,258

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OTHER NON-GOLF REVENUES
Golf Displacement offset
(eg Net parking and golf closure) 92,720$ 105,000 $ (12,280)$ 250,700$ 592,000 $ (341,300)$ 1,398,000 498,000 Displacement/Parking Net events YTD: FY23 had 10 events vs FY22 had 2 events.

Events (Net) NOW STADIUM BUDGET -$ -$ -$ -$
-$
-$
-$ (6,794)$
Food & Beverage (Net)
Food & Beverage Subtotal 22,535 105,889 (83,354) 139,485 379,696 (240,211) -63% 724,000 254,981 - -
Lessons (Net) 2,050 1,800 250 7,200 9,000 (1,800) 20,400 8,055 Pro Shop (Net) 16,512 19,125 (2,613) 78,215 91,625 (13,410) 220,600 75,100 (est to budget)
Golf Complex Net Income 172,680 419,894 (247,214) 908,394 1,865,456 (957,062) -51% 4,219,000 1,677,545 Overhead Expenses (YTD Estiamtes) (236,732) (232,118) (4,614) (557,082) (584,342) Cost Recovery/Interest - - - - -
Set Aside for Capital (311,800) (298,470) (13,330) (585,390) (289,570) GOLF COURSE COMPLEX -YTD TOTAL 172,680 419,894 (247,214) 359,862 1,334,868 (975,006) 3,076,528 803,633 - - - -

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GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 2/26/2025
Variance YTD
% of 12 MONTHS October '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Golf Operations Only (Net) $92,268 32,571 $ 59,697 393,932$ 605,056$ (211,124) -35% 1,856,000 643,317 $ Golf Displacement offset
(eg Net parking and golf closure)
37,980 367,000 (329,020) 157,980 487,000 (329,020) -68% 1,398,000 438,000 Events (Net) NOW STADIUM BUDGET - - - - - - #DIV/0! - (6,794) S
ubtotal: 130,248 399,571 (269,323) 551,912 1,092,056 (540,144) -49% 3,254,000 1,074,523 Food & Beverage (Net) 61,464 124,574 (63,110) 116,950 273,807 (156,857) -57% 724,000 # 225,349 Lessons (Net) - 1,800 (1,800) 5,150 7,200 (2,050) -28% 20,400 # 5,880 Pro Shop (Net) 22,758 19,125 3 ,633 61,703 72,500 (10,797) -15% 220,600 # 52,878 Golf Complex Net Income 214,470 545,070 (330,600) 735,715 1,445,563 (709,848) -49% 4,219,000 # 1,358,630 Overhead Expenses (YTD Estimates) (185,694) (185,694) - (557,082) (467,474) Co
st Recovery/Interest - - - - - . .

Set Aside for Capital (261,215) (241,050) (20,165) 8% (585,390) (233,865) TOTAL RENT - GOLF COURSE COMPLEX 214,470 $ 545,070 $ (330,600)$ 288,806$ 1,018,819$ (730,013)$ 3,076,528$ # 657,291$ Variance from Prior YTD: (368,485)$ -56%
Statistical Summary:

Monthly Rounds 11,111 10,896 215 52,243 48,210 4,033 8% 140,200 46,773 Playable Days 30 26 4 119 98 21 310 101
Rounds/Day 370 419 (49) 439 492 (53) 452 463
Avg Green fee + Cart fee Per Round 52.54 $ 41.76 $ 10.78$ 48.79$ 47.87$ 0.92$ 47.60$ 46.02$ Average Range Fees Per Round 6.37 $ 3.85 $ 2.52$ 5.55$ 5.27$ 0.28$ 5.38$ 5.73$ T
otal Revenue Per Round 58.91 $ 45.61 $ 13.30$ 54.34$ 53.14$ 1.20$ 2% 52.98 $ 51.75$ Current Month YTD
10/31/2024 10/31/2024

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GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 2/26/2025
Variance YTD
% of 12 MONTHS October '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Current Month YTD
10/31/2024 10/31/2024

DETAILS GOLF COURSE
Golf Revenues:

DF/Gst-Greens 334,713 293,000 41,713 1,667,164 1,532,000 135,164 DF/Gst-Greens No Show - -
Tournament-Greens 114,865 60,000 54,865 263,268 255,000 8,268 DF/Gst-Carts 134,239 102,000 32,239 618,682 521,000 97,682 DF/Gst-Carts Employee - -
Trn-Carts - -
Driving Range-Range Fees 13,439 7,000 6,439 59,753 45,000 14,753 Driving Range-Key - -
Driving Range-Tournament - -
Driving Range-Player's Club 57,384 35,000 22,384 230,089 209,000 21,089 Other Golf-Club Rental - -
Other Golf-Reservation - -
Misc. Operating Income (530) -
(530) 21,524 - 2
1,524
Total Golf Revenues 654,109 497,000 157,109 2,860,480 2,562,000 298,480 12% 7,427,000 2,293,000 Golf Expenses:

Payroll and Related Expenses (232,430) (201,162) (31,268) (992,633) (791,877) (200,756) General and Admin (6,150) (1,450) (4,700) (34,384) (5,800) (28,584) Leases (41,403) (39,000) (2,403) (165,908) (156,000) (9,908) Routine Repairs & Maintenance (38,061) (25,750) (12,311) (99,294) (103,000) 3,706 Management Fee Expense (35,417) (35,417) - (141,668) (141,668) - Other Oper. Expenses (54,320) (26,900) (27,420) (221,469) (111,100) (110,369) Utilities-Water (129,284) (100,000) (29,284) (694,309) (510,000) (184,309) Utilities-Power/Nat Gas (20,552) (29,850) 9,298 (91,815) (119,400) 27,585 Utilities-Telephone - (2,348) - (2
,348)
Utilities-Security System - - - -
Util
ities-TV Cable - - - -
Util
ities-Waste Removal (4,224) (4,900) 676 (22,721) (18,100) (4,621) Total Golf Expense (561,841) (464,429) (97,412) (2,466,549) (1,956,945) (509,604) 26% (5,571,000) (1,649,683) Golf Operations Only (Net) 92,268 32,571 59,697 393,931 605,055 (211,124) -35% 1,856,000 643,317

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OTHER NON-GOLF REVENUES
Golf Displacement offset
(eg Net parking and golf closure) 37,980$ 367,000 $ (329,020)$ 157,980$ 487,000 $ (329,020)$ 1,398,000 438,000 Displacement/Parking Net events YTD: FY23 had 10 events vs FY22 had 2 events.

Events (Net) NOW STADIUM BUDGET -$ -$ -$ -$
-$
-$
-$ (6,794)$
Food & Beverage (Net)
Food & Beverage Subtotal 61,464 124,574 (63,110) 116,950 273,807 (156,857) -57% 724,000 225,349 - -
Lessons (Net) - 1,800 (1,800) 5,150 7,200 (2,050) 20,400 5,880 Pro Shop (Net) 22,758 19,125 3,633 61,703 72,500 (10,797) 220,600 52,878 (est to budget)
Golf Complex Net Income 214,470 545,070 (330,599) 735,714 1,445,562 (709,848) -49% 4,219,000 1,352,750 Overhead Expenses (YTD Estiamtes) (185,694) (185,694) - (557,082) (467,474) Cost Recovery/Interest - - - - -
Set Aside for Capital (261,215) (241,050) (20,165) (585,390) (233,865) GOLF COURSE COMPLEX -YTD TOTAL 214,470 545,070 (330,599) 288,805 1,018,818 (730,013) 3,076,528 651,411 - - - -

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Docusign Envelope ID: 392E15DD-50B9-4424-82DD-F335659D6AD4 k•l�t '11 \\f
111,11 fil,,., l •, '111UJ
)', \\ 1\ r,,.,•h11·,.,flt,1t!i.1m (',>•i1
1Jf1i,r l h:!,,1 ,--,---:r•1 • t,1\. l(,�f.1 Jnr-.1,r1C1] Attachment B
February 26, 2025
TO:

FROM:

Rose Bowl Operating Company (through Finance Committee) Jens Weiden, Chief Executive Officer
SUBJECT: FY25 Facility Statement of Operations Q2 (Draft) Recommendation:

This is an information item only.

Background
The Facility Statement of Operations draft report comparing the most current information available to staff versus the Adopted Budget FY25 for the Stadium and Golf Operations. These are preliminary projections and pending actuals reviews.

Report page 1 - Operating Income (before Debt Financing) • Event Count and Net Event Income by Event
• Other Miscellaneous Revenues
• Stadium Overhead Expenses
• Stadium Operating Income
Report page 2:
• Golf Complex Revenues, Expenses, Operating Income
• Rose Bowl Operating Income
Report page 3:
• Bond Financing-Debt Service
• Income/(Loss) [Before Grants/Reserves]
• Grants & Reserves
• Rose Bowl Net Income/(Loss) [After Grants and Reserves] Report page 4-5:
• Summary of Cash Flow (Operating)
• Summary of Cash Flow (Capital)
Report page 6:
• Proforma Tracking Report
Further details on these reports are available upon request.

Fiscal Impact:

The fiscal impact in this projection is subject to change based on operations, market, and business conditions.

Respectfully submitted by: Prepared by:

Ii Signed by:
��3��
�DocuSlgned by:

L�28��-
Jens Weiden, CEO Mo Salama, CFO

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GOLF COMPLEX
(Forecast assumptions with Quarter 2 Actuals)
Revenues
Gross Golf Operations $6,571 $7,305 $7,427 $7,378 (49)
Enterprise Events $25 $421 - -
Golf Displacement/Parking 1,181 810 1,398 1,150 (248)
Pro Shop/Lessons 187 215 241 200 (41)
* Other Non-Operating Revenues/Expenses 19 271 - -
Total Golf Revenues $7,984 $9,022 $9,066 $8,727 (338)
Food and Beverage Operations:

Revenues $2,384 $3,250 $3,192 $3,285 $93
Direct Expenses (2,216) (2,821) (2,468) (2,618) (150)
Net Food and Beverage Operations: $168 $429 $724 $666 (57) Golf and Complex Operating Expenses
Golf Operating Expenses
Personnel (1,860) (2,029) (2,424) (2,774) (350)
Utilities (882) (1,062) (1,431) (1,681) (250)
Services (769) (342) (654) (804) (150)
Management Fee (435) (370) (425) (425) -
Leases/Rentals (355) (495) (637) (525) $112
Other (Fiscal fees, landscaping, security) - (299) - -
Operator contracted commissions (125) (154) - -
Complex Overhead (973) (1,399) (866) (909)
Eaton Fires - - - -
Total Golf Complex Operating Expenses* (7,615) (8,970) (8,905) (9,736) (831) * Golf Complex Expenses Include F&B and Family Golf Expenses.

Golf Complex Preventative Maint Exp. (422) (422)
Golf Complex Operating Income $2,752 $3,301 $2,930 $1,854 (1,077) (Before Reserves)
Rose Bowl Operating Income $14,289 $18,802 $12,781 $10,268 (2,513) [Before Bond Financing, Contributions, Grants and Reserves] 2 of 6 Rose Bowl Projection
Docusign Envelope ID: 392E15DD-50B9-4424-82DD-F335659D6AD4

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RBOC Statement of Operations -
Report Date: February 20, 2025 (For Finance Comm 02/26/25) Management Report: FY 2025 Forecast (through Quarter 2) v2 FY2025 Fiscal Year FY2023
Actual
FY2024
Actual
FY2025
Adopted
FY2025
Forecast
Var. to
Budget
DRAFT
Rose Bowl Operating Income (Continued)
Rose Bowl Operating Income $14,289 $18,802 $12,781 $10,268 (2,513) [Before Bond Financing, Contributions, Grants and Reserves] Bond Financing-Debt Service
DSRF Credit applied to Bond Debts $523 $311 $335 $134
Subsidies $1,481 $3,992 $2,736 $1,480
Gross Bond Debt (15,336) (15,784) (16,188) (14,624)
Financing Net Debt Service $(13,332) $(11,481) $(13,116) $(13,009) $107 * FY25 Refinancing of the 2010B applied in estimates.

Income / (Loss) [Before Grants/Reserves] $957 $7,321 (335) (2,741) (2,406) Grants & Reserves
Grants, awards and Other Op Revenue for Cap Reserves - $3,000 $4,500 $4,500 Capital Funding Reserves (Grants and Operating reserves) (643) (3,000) (500) (500) Capital Funding Reserves (Legacy and Other) - (200) (4,000) (4,000) Music Fest $1 (To Capital Reserve) (225) (92) (160) (152) $8 Levy 3% Investment (To Capital Reserve) - (416) - - Reserves from Operations (net) (868) (708) (160) (152)
RBOC Operating Reserve per Policy (958) (677) (253) (1,469) (1,216) RBOC Capital Reserve per Policy
(Net Income from Operations) - (5,093) - - Reserves for Capital/Preventative Maintenance
Golf Capital Budget Amendment - - - Golf Capital Budget Reserves - (422) (425) (3) Stadium PM Reserves to Operations
(FY25 Recommended in Overhead) (1,406) - - Golf PM/Capital Reserves (FY25 Recommended in Overhead) (538) (843) - -
Total Reserves (Policy and Preventative Maint.) (2,902) (6,613) (675) (1,894) Less: Grants and Reserves (3,770) (7,321) (835) (2,046) (1,211) Rose Bowl Net Income/(Loss)
[After Grants and Reserves] (2,813) - (1,170) (4,787) (3,617) 3 of 6 Rose Bowl Projection
Docusign Envelope ID: 392E15DD-50B9-4424-82DD-F335659D6AD4

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Rose Bowl Facility Statement of Operations
Report Date: February 20, 2025 (For Finance Comm 02/26/25) Management Report: FY 2025 Forecast (through Quarter 2) v2 (Draft for internal use only)

Summary of Cash Flow (Operating) (DRAFT)
Fiscal Year FY2023
Actual
FY2024
Actual
FY2025
Adopted
FY2025
Forecast Variance
Beginning Balance $14,531 $11,718 $11,657 $11,718 $62
Income / (Loss) [Before Grants/Reserves] 957 7,321 (335) (2,741) (2,406) Inflows
Other Funding - 3,000 4,500 4,500 - Total Inflows 957 10,321 4,165 1,759 (2,406)
Outflows / Reserves
Capital Funding (From Operations) (225) (508) (160) (152) 8 Capital contributions(Legacy/Partner etc.) (643) (200) (4,000) (4,000) - Capital contributions(Grant) (3,000) (500) (500) -
Reserved for Family Golf Build-out (estimates only) - Set-aside Preventative Maintenance / Capital (Effective FY25 reserve is only for Capital and PM is
Operating Expense) (1,944) (843) (422) (425) (3)
RBOC General Reserve Policy (958) (677) (253) (1,469) (1,216) RBOC Capital Reserve Policy - (5,093) - - Total Outflows (3,770) (10,321) (5,335) (6,546) (1,211) Net Cash Flow (2,813) - (1,170) (4,787) (3,617) Ending Cash Balance $11,718 $11,718 $10,486 $6,931 (3,555) Accumulated Operating Reserves 6,611
Cash Balance assumes full collections
DRAFT
4 of 6 Rose Bowl Projection
Docusign Envelope ID: 392E15DD-50B9-4424-82DD-F335659D6AD4

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Rose Bowl Facility Statement of Operations
Report Date: February 20, 2025 (For Finance Comm 02/26/25) Management Report: FY 2025 Forecast (through Quarter 2) v2 (Draft for internal use only) DRAFT
Summary of Cash Flow (Capital) - DRAFT
Fiscal Year FY2023
Actual
FY2024
Actual
FY2025
Adopted
FY2025
Forecast Variance
Beginning Balance $12,389 $9,201 $14,694 $13,755 (940) Inflows
Capital Funding (From Operations) 225 508 160 152 (8)
RBOC Capital Reserve Policy - 5,093 - - - Other Capital Funding (From Grants, partner etc.) - 3,000 1,500 1,500 - Capital (Effective FY25 reserve is only for Capital and PM is Operating
Expense)
1,944 843 422 425 3
Legacy Contributions - - 3,000 3,000 - Total Inflows 2,169 9,444 5,082 5,077 (5)
Outflows
Capital Expenditures (Infrastructure) (3,170) (1,961) (4,922) (4,857) 65 Preventative Maintenance (1,603) (1,609) - - - Carry forward FY24 Budget Bal: - (454) (789) (335) Restrictions: -
Golf - - (1,180) (561) 619 Family Golf
Troon Investment (Golf) - - (1,000) (1,000) - Grants - - (3,500) (3,500) - Legacy (583) (154) (3,000) (3,350) (350)
Other - - - - - Capital & PM (Infrastructure) Amendment(s) - (221) - - - AGC Capital Funding at Contract Term - (946) - - - Total Outflows (5,356) (4,890) (14,056) (14,056) -
Net Cash Flow (3,187) 4,553 (8,973) (8,979) (5)
Ending Cash Balance $9,201 $13,755 $5,721 $4,776 (945)
5 of 6 Rose Bowl Projection
Docusign Envelope ID: 392E15DD-50B9-4424-82DD-F335659D6AD4

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Rose Bowl Facility Statement of Operations
Report Date: February 20, 2025 (For Finance Comm 02/26/25) Management Report: Improvements from June 2022 updated for FY 2025 Quarter 2 Projection Proforma Tracking Report Estimated Cumulative Improvement (In Millions) (June 2024 Reporting) (Current Projection)
Pro Forma Assumption Changes Ending FY 2027 Ending FY 2027 Variance Current Actuals/Projections
Updated: FY22 Actual 2.100$ 2.100$ -$ Updated: FY23 Actual 3.000 3.000 - Updated: FY24 Projection / Actuals 5.600 Actual 5.770 0.170 K Current Actuals/Projections Subtotal: 10.7$ 10.9$ 0.170$ Updated: FY25 Projection
New and updated Revenue Oppurtunities
Additional & updated Other Major Events 8.600$ 8.829$ 0.229$ K Tourism Business Improvement District (TBID) 8.200 8.200 - UCLA Big Ten impact 3.100 1.802 (1.298) M Music Festival 2.500 2.276 (0.224) K Family Golf 2.000 2.000 - Flea Market 1.150 1.072 (0.078) K Golf Complex Operations (Non-Fam. Golf) 1.050 (0.027) (1.077) K Rose Bowl Game 0.040 0.040 - Enterprise Events (0.920) (1.220) (0.300) K Other Miscellaneous Revenues - (0.024) (0.024) K - Expenses -
Increased insurance/community/capital/events (4.700) (4.442) 0.258 K Increased Capital Reserve Policy (2.200) (2.200) - Increased Operating Reserve Policy (1.700) (2.911) (1.211) M Debt Refinancing (FY25) - 0.107 0.107 K Subtotal Impact of FY25 Projection 17.120 13.503 (3.617) FY25 and Beyond Impacts:

Senate Bill 96 operating funding for PM 2.100 2.700 0.600 K Debt Refinancing (FY26-FY27) - 0.800 0.800 K New Contracts / Current Business / ExpensesSubtotal: 19.220$ M 17.003$ M (2.217)$ M Estimated Cumulative Impact Fiscal 2022-2027: 29.920$ M 27.873$ M (2.047)$ M Docusign Envelope ID: 392E15DD-50B9-4424-82DD-F335659D6AD4

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Finance CommitteeMarch 17, 2025

Finance Committee
March 17, 2025