Finance Committee
June 22, 2026

AGENDA

FINANCE COMMITTEE

SPECIAL MEETING NOTICE
JUNE
22, 2026
PUBLIC MEETING 3:00 P.M.

Members
Vi
ctor M. Gor
do, Mayor
Tyron Hampton, District 1
Rick Cole, District 2
Gene Masuda, District 4
STAFF
Karin Schnaider, Director of Finance
Arnold Lee, Chief Assistant City Attorney
Gloria Acevedo, Recording Secretary

MISSION STATEMENT
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responsive to our entire community and consistent
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DEPARTMENT OF FINANCE

CITY OF PASADENA

NOTICE OF SPECIAL MEETING

OF THE FINANCE COMMITTEE
JUNE 22, 2026
PUBLIC MEETING: 3:00 P.M.

PASADENA CITY HALL, COUNCIL CHAMBER
100 NORTH GARFIELD AVENUE, ROOM S249
NOTICE IS HEREBY GIVEN that the special meeting of the Finance Committee will be held on Monday, June 22, 2026, at 3:00 p.m. in the Pasadena City Hall Council Chambers S249.

Victor M. G
Finance Co
I HEREBY CERTIFY that this notice, in its entirety, was posted on the Internet at www.cityofpasadena.net/commissions/city-council-finance-committee and on the Council Chamber Bulletin Board, Room S249 and the Bulletin Board in the rotunda area, City Hall, 100 North Garfield Avenue, this 18th day of June, 2026, by 5:30 p.m., and that copies hereof were faxed, emailed or delivered to each member of the City Council and to each local newspaper of general circulation, radio or television station requesting notice in writing, all of which recipients are identified on the distribution list set forth herein below.

DISTRIBUTION:

City Council
City Manager
City Attorney
Public Information Officer
Los Angeles Times
Pasadena Independent
ColoradoBoulevard.net
La Opinion
Pasadena Now
Pasadena Star News
Pasadena Weekly
Conversation Live
Gloria Acevedo, Recording Secretary
Finance Committee
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Habra servicio de interpretaci6n disponible para estas juntas 1/amando al (626) 744-4124 par lo menos con 24 horas de anticipaci6n.

SPECIAL MEETING
AGENDA

FINANCE COMMITTEE
JUNE 22, 2026
Public Meeting: 3:00 P.M.

Council Chamber, Pasadena City Hall
100 North Garfield Avenue, Room S249
The Fina
nce Committee may take action within its authority on
any item listed on this agenda as it deems appropriate following consideration and discussion of the matter.

PUBLIC MEETING - 3:00 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

NEW BUSINESS

1. AUTHO

RIZE THE CITY MANAGER TO ENTER INTO A CONTRACT WITH

INTERNATIONAL TRADE EDUCATION PROGRAMS DBA EXP TO
RECEIVE FUNDING OF $300,000 FOR THE EXP SUMMER INTERNSHIP PROGRAM AND AMEND THE CITY MANAGER’S FY 2026 OPERATING

BUDGET TO RECOGNIZE AND APPROPRIATE THE FUNDS

2. AME
ND THE FISCAL YEAR 2027 CAPITAL IMPROVEMENT PROGRAM
BUDGET

3. AME
NDMENTS TO FISCAL YEAR 2026 OPERATING BUDGET

4. QU
ARTERLY INVESTMENT REPORT - QUARTER ENDING MARCH 31,
2026

5. REVENUE OPPORTUNITIES

ADJOURN

NEW BUSINESS
ITEM 1

1. A UTHORIZE THE CITY MANAGER TO ENTER INTO A CONTRACT

WITH INTERNATIONAL TRADE EDUCATION PROGRAMS DBA EXP
TO RECEIVE FUNDING OF $300,000 FOR THE EXP SUMMER
INTERNSHIP PROGRAM AND AMEND THE CITY MANAGER’S FY
2026 OPERATING BUDGET TO RECOGNIZE AND APPROPRIATE

THE FUNDS

J\genda r e ort
TO: Honorable Mayor and City Council
THROUGH: Finance Committee
June 22, 2026
FROM: Office of the City Manager - Career Services Division SUBJECT: AUTHORIZE THE CITY MANAGER TO ENTER INTO A CONTRACT

WITH INTERNATIONAL TRADE EDUCATION PROGRAMS DBA EXP
TO RECEIVE FUNDING OF $300,000 FOR THE EXP SUMMER

INTERNSHIP PROGRAM AND AMEND THE CITY MANAGER'S FY
2026 OPERATING BUDGET TO RECOGNIZE AND APPROPRIATE

THE FUNDS
RECOMMENDATION:

It is recommended that the City Council:

1. Find that the proposed actions are not a "project" subject to the California Environmental Quality Act ("CEQA") pursuant to Public Resources Code Section 21065 and within the meaning of State CEQA Guidelines Section 15378;

2. Authorize the City Manager to execute a contract with International Trade Education Programs OBA EXP to receive funding in the amount of $300,000 to implement the EXP Summer Internship Program and execute any related documents necessary to implement the program; and

3. Amend the City Manager's FY 2026 Operating Budget by recognizing revenues and appropriating $300,000 to support program implementation, staffing, and participant wages in the Workforce Innovation Opportunity Fund (Fund 681).

BACKGROUND:

On May 27, 2026, the City was notified of a contract in the amount of $300,000 awarded by International Trade Education Programs OBA EXP to support the implementation of a summer internship program.

MEETING OF _____ _ AGENDA ITEM NO. ____ _

EXP Summer Internship Funding Authorization
June 22, 2026

The EXP Summer Internship Program will provide paid internship opportunities to approximately 150 youth offering up to 80 hours of work experience per participant. The program is designed to develop technical skills, increase career awareness, and strengthen workforce readiness through hands-on experience at area businesses.

The Foothill Workforce Development Board (FWDB), using existing staff, will provide administrative support for the program, serving as the employer of record, onboarding, payroll, and program reporting, as well as coordinating with local businesses and organizations to provide internship placements.

Key program elements include:

Paid Internships: Youth participants will receive paid work experience (June 2026- December 2026). Any unspent funds in FY 2026 will be rolled over to FY 2027.

Employer Engagement: Coordination with local businesses and organizations for placement opportunities
Program Reporting: Delivery of progress and final reports documenting outcomes and performance metrics
The program is structured to maximize direct investment in participants while maintaining minimal administrative costs. The majority of funding will support participant wages and direct services.

COUNCIL POLICY CONSIDERATION:

The EXP Internship Program aligns with the City Council's strategic priorities related to workforce development, youth engagement, and economic opportunity. By providing paid internship opportunities in high-demand fields, the program supports the development of a skilled workforce pipeline while expanding access to career pathways for youth, particularly those facing barriers to employment.

Additionally, the program strengthens partnerships between education, workforce development, and local employers, contributing to long-term economic vitality and community resilience.

ENVIRONMENTAL ANALYSIS:

CEQA excludes from environmental review, actions that are not "projects" as defined by Public Resources Code Section 21065 and within the meaning of CEQA Guidelines Section 15378. Sections 21065 and 15378 define a "project" as an action which may cause either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment. Section 15378(b) excludes from the definition of "project" organizational or administrative activities of governments that will not result in direct or indirect physical changes in the environment. The actions

EXP Summer Internship Funding Authorization
June 22, 2026

proposed herein, authorizing the City Manager to execute a contract and related documents to receive funding to implement an internship program and amend the operating budget to appropriate the funding to support the program, are organizational and administrative activities, and are therefore not a "project" as defined by CEQA.

Since the actions are not a project subject to CEQA, no environmental document is required.

FISCAL IMPACT:

Approval of the recommended action will amend the City Manager's FY 2026 Operating Budget to recognize revenues and appropriate $300,000 in the Workforce Innovation Opportunity Fund (Fund 681) to implement the EXP Summer Internship Program. There is no impact to the General Fund.

Prepared by:

MICHAEL TROGAN
Executive Director, Foothill Workforce
Development Board
Approved by:

Interim City Manager
Respectfully submitted by,
DAVID A. KLUG
Economic Development Manager

City Manager’s Office
Economic Development Division
Foothill Workforce Development Board

EXP SUMMER INTERNSHIP
Pasadena Finance Committee
June 22, 2026

Economic Development Division
Grant Program Overview
• Contract award of $300,000 with International Trade Education Programs DBA EXP to support
implementation of the EXP Summer Internship Program
• The Program will engage area high school students in paid internships for the purpose of p
roviding work experience to develop technical skills and career readiness in real work environments
• FWDB using existing staff, will provide employer onboarding, recruit students, place students, and
process payroll for student interns.
• Up to 150 students will receive up to 80 hours of paid internships • Contract Timeline: June 2026 – June 2027
2

Economic Development Division
Recommendation

1. Find that the proposed action are not a “project” subject to the California Environm
ental Quality Act (“CEQA”) pursuant to Public
Resources Code Section 21065 and within the meaning of State CEQA Guidelines Section 15378;

2. Authorize the City Manager to execute a contract with International Trade Education Pr
ograms DBA EXP to receive funding in the amount
of $300,000 to implement the EXP Summer Internship Program and execute any related documents necessary to implement the program; and

3. Amend the City Manager’s FY 2026 Operating Budget by recognizing revenues and appro
priating $300,000 to support program
implementation, staffing, and participant wages in the Workforce Innovation Opportunity Fund (Fund 681)
3

NEW BUSINESS
ITEM 2

2. AMEND THE FISCAL YEAR 2027 CAPITAL IMPROVEMENT

PROGRAM BUDGET

Agenda
TO: Honorable Mayor and City Council
THROUGH: Finance Committee
FROM: Department of Public Works
eport
June 22, 2026
SUBJECT: AMEND THE FISCAL YEAR 2027 CAPITAL IMPROVEMENT

PROGRAM BUDGET
RECOMMENDATION:

It is recommended that the City Council:

1. Find that the proposed actions are not "projects" as defined in the California Environmental Quality Act (CEQA), Public Resources Code Section 21065 and Section 15378(b)(4) and (5) of the State CEQA Guidelines and, as such, are not subject to environmental review; and

2. Amend the Fiscal Year 2027 Capital Improvement Program (CIP) Budget as detailed in Attachment A of this report.

BACKGROUND:

Throughout the fiscal year (FY), the Department of Public Works in conjunction with other impacted departments reviews active CIP projects to determine if budgetary changes are needed. Staff has completed this report detailing needed budget adjustments and amendments to the FY 2027 CIP Budget as detailed on Attachment A. The FY 2027 - 2031 CIP Budget was adopted by City Council on May 4, 2026, and per resolution 10187, the CIP budget went into effect immediately.

Amendments to FY 2027 - 2031 CIP Budget

1. Annual Citywide Street Resurfacing and ADA Improvement Program FY 2027 (73951) - The Department of Public Works (PW) recommends transferring $1,435,890 in General Fund, $799,024 in Charter Capital Fund, and $29,609 in Street Occupancy fees for a total of $2,264,523 to this project from nine completed or inactive projects as outlined on Attachment A. In addition, PW recommends transferring $232,400 in Private Capital from the Annual Citywide Street Resurfacing and ADA Improvement Program FY 2026 (73948) to this project. The Private Capital MEETING OF _____ _ AGENDA ITEM NO. ____ _

Amendments to FY 2027 CIP Budget
June 22, 2026

was received as a condition of development to repave the asphalt along Parkwood Avenue, Walnut Street, and Greenwood Avenue which will be completed in FY 2027.

These actions will bring the total FY 2027 appropriation to $11.1 M to this project.

2. Pasadena Rose Bowl Multimodal Olympic Route (75025) - The Department of Transportation (DOT} recommends transferring $7,171,250 in Metro Active Transport, Transit and First/Last Mile Program Cycle 2 (MAT) grant funds from the Mobility Hubs and First Last Mile Improvements (75926) project to this project. DOT was awarded MAT funds in the amount of $7,171,250 for first/last mile enhancements from the Metro A Line Memorial Park Station to the Rose Bowl. On October 27, 2025, the City Council authorized the City Manager to enter into a funding agreement with Metro for the acceptance of funds which was appropriated to Mobility Hubs and First Last Mile Improvements (75926) project. Project 75025 was created as part of the FY 2027 - 2031 CIP Budget. This legacy project will facilitate walking and biking access for the 2028 Olympic Games. DOT recommends transferring the funds to this project to support expenses and grant tracking.

3. Installation of Pedestrian Hybrid Beacon at Lake Avenue and Elizabeth Street (75138)-DOT recommends transferring $300,000 in Measure M Multi-Year Subregional Program (MSP) grant funds from the Installation of Pedestrian Hybrid Beacons (HAWKS) at Various Locations (75927) project to this project. On December 8, 2025, the City Council authorized the City Manager to enter into a funding agreement with Metro for the acceptance of funds which was appropriated to Installation of Pedestrian Hybrid Beacons (HAWKS) at Various Locations (75927) project. Project 75138 was created as part of the FY 2027 CIP Budget process and this transfer will fully fund the project and allow it to begin. This project was created to support expenses and grant tracking.

4. Installation of Pedestrian Hybrid Beacon at Lincoln Avenue and Toolen Place (75139) -DOT recommends transferring $300,000 in Measure M MSP funds from Installation of Pedestrian Hybrid Beacons (HAWKS) at Various Locations (75927) to this project. On December 8, 2025, the City Council authorized the City Manager to enter into a funding agreement with Metro for the acceptance of funds which was appropriated to Installation of Pedestrian Hybrid Beacons (HAWKS) at Various Locations (75927) project. Project 75139 was created as part of the FY 2027 CIP Budget process and this transfer will fully fund the project and allow it to begin. This project was created to support expenses and grant tracking.

Proposed New Project
The following project is recommended to be added to the FY 2027 - 2031 CIP Budget. This project was presented to the Planning Commission on May 13, 2026, and was found consistent with the General Plan.

5. Lower Arroyo Park Planning and Feasibility Study (77411)- PW recommends this project be added to the FY 2027 CIP budget with a total estimated project cost of $500,000 and recommends appropriating $500,000 in Measure A Los Angeles County Regional Park and Open Spaces Grant funds to this project.

Amendments to FY 2027 CIP Budget
June 22, 2026

DESCRIPTION: The Lower Arroyo Park Planning and Feasibility Study will evaluate opportunities to improve water quality, habitat connectivity, ecological restoration, stormwater management, trail accessibility, and public access within approximately 37 acres of City-owned open space in the Lower Arroyo Seco corridor. The study area extends generally between the Colorado Street Bridge and La Loma Bridge and includes approximately 3.5 miles of existing trails and adjacent public rights-of-way.

JUSTIFICATION: The Lower Arroyo Park Planning and Feasibility Study will evaluate opportunities to improve water quality, ecological restoration, stormwater management, trail accessibility, and public access within approximately 37 acres of City-owned open space in the Lower Arroyo Seco corridor. The study will identify conceptual multi-benefit improvements including stormwater capture and infiltration, habitat restoration, ADA-accessible trail enhancements, and public access improvements that support long-term watershed health and climate resilience.

SCHEDULE: A Feasibility Study will begin in FY 2027.

See Attachment B for the full project page.

COUNCIL POLICY CONSIDERATION:

All of the above projects and actions address City Council's goals to maintain fiscal responsibility and stability and improve, maintain, and enhance public facilities and infrastructure.

ENVIRONMENTAL ANALYSIS:

CEQA excludes from environmental analysis those actions that are not "projects" as defined by State CEQA Guidelines Section 15378. That section excludes from the definition of "project" the creation of government funding mechanisms and fiscal activities which do not yet commit the lead agency to any specific project and excludes organizational or administrative governmental activities that do not result in physical changes to the environment. The actions proposed herein are budgetary and part of the City's normal administrative process as it takes early steps to prepare for the possibility of undertaking a project, and therefore they are not yet "projects" as defined by CEQA. As the City becomes more certain it will undertake one of the projects, and before it commits itself to the project, the appropriate environmental analysis will be conducted and brought to the appropriate City body for approval.

Amendments to FY 2027 CIP Budget
June 22, 2026

FISCAL IMPACT:

The cumulative result of these recommendations will increase the FY 2027 CIP budget by $500,000. The specific funding sources for the budget amendments are listed on Attachment A. There is no net change to the General Fund.

Prepared by:

Phyllis Hallowell
Public Works Administrator
Approved by:

Respectfully submitted,
GRE DE VINCK, P.E.

Director of Public Works
Attachment A-Amendments to the FY 2027 -2031 CIP Budget Attachment B - Lower Arroyo Park Planning and Feasibility Study project page

Amendments to the FY 2027-2031
CIP Budget
Project/Fund Source Appropriations
Through FY
2027
1 Annual Citywide Street Resurfacing and ADA Improvement Program FY 2027 (73951)
General Fund 0
Charter Capital 0
Street Occupancy 0
Private Capital 0
Community Development Block Grant 1,125,000
Gas Tax 2,600,000
Road Maintenance and Rehabilitation Account (SB 1) 3,900,000 Sewer Fund 1,000,000
Total 8,625,000
Building Maintenance FY 2021-2025 (71903)
General Fund 1,205,938
Charter Capital 475,000
Building Maintenance Fund 5,908,187
Other Private Contribution 144,868
Subtotal 7,733,993
Fire Station 31 Seismic Retrofit (71914)
General Fund 400,000
Charter Capital 300,000
FEMA Hazard Mitigation Grant Program 1,211,492
Subtotal 1,911,492
Police Department Building Renovation (71918)
General Fund 200,000
Subtotal 200,000
Concrete Traffic Signal/Street Lighting Pole Replacements (74416)
Gas Tax 150,000
Measure M 50,000
Private Capital 100,000
Street Occupancy 250,000
Subtotal 550,000
Complete Street Project - Union Street Cycle Track (75087) General Fund 600,000
ATP Augmented (SCAG) 1,877,000
ATP Cycle 3 3,742,000
Gas Tax 150,000
Measure R Transportation Fund 289,000
MT A Grant - Federal Flexible CMAQ Funds 745,477
Private Capital 113,000
Sewer Fund 420,000
Surface Transportation Program (STP) 1,051,140
Traffic Reduction Fee 1,324,400
Subtotal 10,312,017
Traffic Signal at Orange Grove Blvd and Sunnyslope Ave
(75099)
General Fund 416,000
Measure M 65,000
1 of 3
Attachment A
Changes Revised
Appropriation
1,435,890 1,435,890
799,024 799,024
29,609 29,609
232,400 232,400
0 1,125,000
0 2,600,000
0 3,900,000
0 1,000,000
2,496,923 11,121,923
(688,360) 517,578
(475,000) 0
0 5,908,187
0 144,868
(1,163,360) 6,570,633
(43,006) 356,994
(300,000) 0
0 1,211,492
(343,006) 1,568,486
(197,077) 2,923
(197,077) 2,923
0 150,000
0 50,000
0 100,000
(29,609) 220,391
(29,609) 520,391
(183,025) 416,975
0 1,877,000
0 3,742,000
0 150,000
0 289,000
0 745,477
0 113,000
0 420,000
0 1,051,140
0 1,324,400
(183,025) 10,128,992
(49,984) 366,016
0 65,000

Amendments to the FY 2027-2031
CIP Budget
Project/Fund Source Appropriations
Through FY
2027
Road Maintenance and Rehabilitation Account (SB 1) 50,000 Subtotal 531,000
Washington Park Community House and Restroom -
Construction Phase (78089)
Charter Capital 195,000
Residential Impact Fee 3,100,000
Subtotal 3,295,000
One Arroyo Project - Upper Arroyo Trail Loop and Lower
Arroyo Trail Loop - Environmental and Design Phase (77381) General Fund 40,000
Private Capital - One Arroyo Foundation (Memo) 200,000
Proposition A (Parks) - Cities Excess Funds 125,000
Residential Impact Fee 135,000
Subtotal 500,000
Tree Replacement/Planting Citywide - FY 2023-2027 (78959) General Fund 370,000
Street Tree Revenue 248,316
Subtotal 618,316
Annual Citywide Street Resurfacing and ADA Improvement
Program FY 2026 (73948)
General Fund 4,300,000
Gas Tax 1,200,000
Road Maintenance and Rehabilitation Account (SB 1) 4,475,000 Sewer Fund 1,049,714
Private Capital 0
Subtotal 6,724,714
Total 32,376,532
2 Pasadena Rose Bowl Multimodal Olympic Route (75025)
Metro Active Transport, Transit and FirsULast Mile Program 0 Total 0
Mobility Hubs and First/Last Mile Improvements (75926)
Metro Active Transport, Transit and FirsULast Mile Program 7,171,250 Total 7,171,250
3 Installation of Pedestrian Hybrid Beacon at Lake Avenue and Elizabeth Street (75138)
Measure M MSP 0
Total 0
Installation of Pedestrian Hybrid Beacons (HAWKs) at Various Locations (75927)
Measure M MSP 1,200,000
Total 1,200,000
2 of 3
Attachment A
Changes Revised
Appropriation
0 50,000
(49,984) 481,016
(24,024) 170,976
0 3,100,000
(24,024) 3,270,976
(34,978) 5,022
0 200,000
0 125,000
0 135,000
(34,978) 465,022
(239,460) 130,540
0 248,316
(239,460) 378,856
0 4,300,000
0 1,200,000
0 4,475,000
0 1,049,714
(232,400) (232,400)
(232,400) 6,492,314
(2,496,923) 29,879,609
7,171,250 7,171,250
7,171,250 7,171,250
(7,171,250) 0
(7,171,250) 0
300,000 300,000
300,000 300,000
(300,000) 900,000
(300,000) 900,000

Amendments to the FY 2027-2031
CIP Budget
Project/Fund Source Appropriations
Through FY
2027
4 Installation of Pedestrian Hybrid Beacon at Lincoln Avenue and Toolen Place (75139)
Measure M MSP 0
Total 0
Installation of Pedestrian Hybrid Beacons (HAWKs) at Various Locations (75927)
Measure M MSP 1,200,000
Total 1,200,000
5 Lower Arroyo Park Planning and Feasibility Study (77411) Measure A Los Angeles Co Regional Park and Open Spaces Grant 0 Total 0
Net Changes
3 of 3
Attachment A
Changes Revised
Appropriation
300,000 300,000
300,000 300,000
(300,000) 900,000
(300,000) 900,000
500,000 500,000
500,000 500,000
500,000

FY 2027 - 2031 Capital Improvement Program
Arroyo Projects
Lower Arroyo Park Planning and Feasibility Study
77411
Attachment B
Priority Project No. Description Total
Estimated
Costs
Appropriated
Through Recommended
FY 2026 FY 2027
Proposed
FY 2028
Proposed
FY 2029
Proposed
FY 2030
Proposed
FY 2031
and Beyond NEW 77411 Lower Arroyo Park Planning and Feasibility Study Measure A Los Angeles Co Regional Park and Open Spaces Grant Total
Lower Arroyo
500,000 0 500,000 0 0 0 0
500,000 0 500,000 0 0 0 0
DESCRIPTION: The Lower Arroyo Park Planning and Feasibility Study will evaluate opportunities to improve water quality, habitat connectivity, ecological restoration, stormwater management, trail accessibility, and public access within approximately 37 acres of City-owned open space in the Lower Arroyo Seco corridor. The study area extends generally between the Colorado Street Bridge and La Loma Bridge and includes approximately 3.5 miles of existing trails and adjacent public rights-of-way.

JUSTIFICATION: The Lower Arroyo Park Planning and Feasibility Study will evaluate opportunities to improve water quality, ecological restoration, stormwater management, trail accessibility, and public access within approximately 37 acres of City-owned open space in the Lower Arroyo Seco corridor. The study will identify conceptual multi-benefit improvements including stormwater capture and infiltration, habitat restoration, ADA-accessible trail enhancements, and public access improvements that support long -term watershed health and climate resilience.

SCHEDULE: A Feasibility Study will begin in FY 2027.

RELATIONSHIP TO GENERAL PLAN: This project is consistent with Policies 10.11 (Eaton Canyon Corridor and Arroyo Seco) and 10.18 (Water Quality) of the Land Use Element, which seeks to preserve and maintain the natural character of the Arroyo Seco in balance with recreational activities and flood control improvements, and encourages the use of natural processes to capture, treat, and infiltrate urban runoff.

HISTORY: This project was created and funded in FY 2027.

II Responsible Department:

Public Works Department

NEW BUSINESS
ITEM 3

3. AMENDMENTS TO FISCAL YEAR 2026 OPERATING BUDGET

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Agenda Report
June 22, 2026
t
1 Honorable Mayor and City Council
Finance Committee
Department of Finance
AMENDMENTS TO FISCAL YEAR 2026 OPERATING BUDGET
RECOMMEN DATION:

1. Find that the proposed action herein is not a "project" subject to the California Environmental Quality Act (CEQA) pursuant to Public Resources Code Section 21065 and within the meaning of State CEQA Guidelines Section 15378;and

2. Amend the Fiscal Year (FY) 2026 Operating Budget as detailed in the following report by a net amount of $8,056,000.

BACKGROUND:

Throughout the fiscal year, budgetary adjustments are necessary to account for unanticipated changes to the adopted budget. These revenue and appropriation amendments are presented to the City Council for consideration. This agenda report includes proposed amendments to the FY 2026 Operating Budget as adopted by the City Council on June 16, 2025.

Proposed Budget Amendments

1. Outside Legal Services - The City Attorney/City Prosecutor Department recommends appropriating $3,100,000 from the unappropriated fund balance in the General Fund (101) for outside legal services. The Department currently has $2.6 million budgeted for outside legal services; however, this will not be sufficient given the number and range of legal matters required to be handled.

The Civil Division has handled a high number of ongoing and time-consuming litigation matters, with protracted discovery and law and motion in several high- profile litigation matters involving the City in both Plaintiff and Defendant capacities, as well as several complex advisory legal matters.

I
I
MEETING OF.AGENDA ITEM NO..

Amendments to Fiscal Year 2026 Operating Budget
June 22, 2026

2. Police Department Internal Service Budget Adjustment - The Police Department recommends appropriating $511,000 from the unappropriated fund balance in the General Fund (101) to cover fleet maintenance, repair, and replacement costs. Although the FY 2026 budget includes $2.5 million for these expenses, rising repair costs for aging vehicles have created a shortfall. Delivery of new vehicles has been delayed due to supply chain issues, and the cost of upfitting new vehicles was not previously included in the replacement budget.

3. Encampment Clean-up Funding Transfer - The Public Works Department recommends transferring $75,000 from the Refuse Fund (406) to the General Fund (101) within the Housing Department to support the Municipal Assistance, Solutions, and Hiring (MASH) program staff time and associated expenses for the cleanup and disposal of items at encampment sites. These responsibilities were previously performed by Public Works; however, since MASH has assumed these duties, the Refuse Fund will now fund these costs on an annual basis.

4. Library Grant Programs - The Libraries and Information Services Department recommends recognizing revenue and appropriating $50,108 in the Library Services Fund (212) for two grants: (a) $35,108 for the Lunch at the Library Grant Program and (b) $15,000 for the Civic Makers Lab for Adults initiative. The Lunch at the Library program is a state-wide initiative that provides grants, training, and resources to help libraries establish successful summer meal sites or provide programming and resources at other community meal sites. The grant was awarded in January 2026 and concludes in January 2027. The Civic Makers Lab for Adults is a program that equips librarians to serve as civic learning facilitators and empowers young adults ages 18-24 to be active contributors to their communities. The grant was awarded by the Urban Libraries Council in April 2026 and concludes in September 2027.

5. Purchase of Clean Air Vehicles - The Human Resources Department recommends appropriating $64,000 from the unappropriated fund balance in the Air Quality Improvement Fund (216) to purchase two clean-air electric vehicles for the Finance Department's Business License Inspectors. On October 27, 2025, the City Council approved an appropriation of $7,200 to lease a vehicle for the inspectors. This adjustment reflects the Finance Department's decision to purchase the vehicle rather than lease it as originally planned, as well as the acquisition of a second vehicle. This allocation of Air Quality Management District funding supports the City's ongoing commitment to sustainability and clean-air initiatives.

6. CalHome Award Funding - The Housing Department recommends recognizing revenue and appropriating $2,625,000 of the $5,000,000 CalHome Program award funded by the State of California Department of Housing and Community Development approved by the City Council on May 20, 2024. The program provides down payment assistance to low-income households and provides financing for the rehabilitation and construction of accessory dwelling units (ADUs). The remaining balance of the grant award will budgeted before the grant terminates in July 2027.

Amendments to Fiscal Year 2026 Operating Budget
June 22, 2026

7. Year-End Budget Reconciliation - The Housing Department recommends appropriating a total of $4,381 ,000 from the unappropriated fund balances of the following funds to align budgeted appropriations with projected expenditures through June 30, 2026.
a. Rental Assistance Programs Fund (220) - Appropriate $4,196,000 from the fund's unappropriated balance to account for rising rents and the administration of partner PHAs, for which reimbursement is expected.

Additionally, the timing of HUD's delayed funding notification contributed to the variance and underscores the need for continued alignment between federal funding cycles and local budget planning. b. Low and Moderate Income Housing Fund (237) - Appropriate $148,000 from the fund's unappropriated balance to account for increased administrative costs.
c. Inclusionary Housing Trust Fund (239) - Appropriate $37,000 from the fund's unappropriated balance to account for increased administrative costs.

COUNCIL POLICY CONSIDERATION:

The City Council's strategic planning goal of maintaining fiscal responsibility and stability will be advanced by monitoring the FY 2026 Operating Budget and by implementing necessary budget amendments.

ENVIRONMENTAL ANALYSIS:

CEQA excludes, from environmental review, actions that are not "projects" as defined by Public Resources Code 21065 and within the meaning of State CEQA Guidelines Section 15378(b). Sections 21065 and 15378 define a project as an action which may cause either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment. Section 15378(b) excludes from the definition of "project" government fiscal activities, which do not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. The actions proposed herein, amending the City's FY 2026 Operating Budget, is a governmental fiscal activity, and therefore is not a "project" as defined by CEQA. Since the action is not a project subject to CEQA, no environmental document is required.

Amendments to Fiscal Year 2026 Operating Budget
June 22, 2026

FISCAL IMPACT:

As detailed in the table below and in the attached "Summary of Proposed 4th Quarter FY 2026 Budget Amendments", approval of the proposed budget amendments will increase FY 2026 total authorized operating appropriations across multiple funds by $10,806,108. These additional costs will be offset through increased revenue of $2,750,108. The General Fund's unappropriated fund balance will decrease by $3,536,000.

Item # I FundFund DescriptionDepartment
Revenue
Recognition
Expenditure
Appropriations
One-Time/
Ongoing
1101General FundCity AttorneyJO.$3,100,000One-Time
2101General FundPolice^$511,000One-Time
3101/406General Fund/Refuse FundHousing/PublicWorks$75,000 $75,000Ongoing 4212Other Housing Fund/Refuse FundLibrary$50,108$50,108One-Time 5216Air Quality Improvement FundHuman Resources$0$64,000One-Time 6238Other Housing FundHousing$2,625,000 | $2,625,000One-Time 7a220Rental Assistance Programs FundHousing_io$4,196,000One-Time 7b237Low and Moderate Housing FundHousing$0$148,000One-Time 7c239Inclusionary Housing Trust FundHousing$0$37,000One-Time Total$2,750,108 | $10,806,108
Respectfully submitted,
)fk^^ ^>v^i/^^ ^-

KARIN SCHNAIDER
Director of Finance
Prepared by:

Flora Kayfriiryan
Principal Administrative Analyst
Approved by:
\^^
^\TTH|EW E. MAYMATTHEW E. MAWKESWORTH
Interim City Manager
Attachment: (1)
Attachment A - Summary of Proposed 4th Quarter FY 2026 Budget Amendments

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Amendments to
Fiscal Year 2026
Operating Budget
Flora Karmiryan
Principal Administrative Analyst
June 22, 2026
Finance Committee/City Council
Item 3 (Finance Committee); Item XX (City Council)

2 Recommendations
A. Approve amending the Fiscal Year (FY) 2026
Operating Budget by a
net amount of
$8,056,000 across multiple funds.

Finance Department

FY 2026 Budget Amendments

1. Outside Legal Services
• Appropriate $3,100,000 from the unappropriated fund
balance in the General F
und (101) for outside legal
services.
 Current budget: $2,600,000
 Increased number and range of legal matters
 Civil Division has handled a high number of ongoing and time-consuming lit
igation matters
 Protracted discovery and law and motion in several
high-profile litig
ation matters involving the City in both
plaintiff and defendant capacities
 Several complex advisory legal matters
3 City Attorney/City Prosecutor Department

FY 2026 Budget Amendments

2. Police Department Internal Service Budget Adjustment • Appropriate $511,000 from the unappropriated fund
balance in the General
Fund (101) for fleet maintenance,
repair and replacement costs.
 Current budget: $2,500,000
 Rising repair costs for aging vehicles
 Delivery of new vehicles delayed due to supply chain issues  Cost of upfitting new vehicles was not previously budgeted 4 Police Department

FY 2026 Budget Amendments

3. Encampment Clean-up Funding Transfer
• Transfer $75,000 from the Refuse Fund (406) to the
General Fund (101)
within the Housing Department to
support MASH staff time and associated expenses for
the cleanup and disposal of items at encampment
sites.
5 Public Works Department

FY 2026 Budget Amendments

4. Library Grant Programs
• Recognize revenue and appropriate $50,108 in the
Library Services Fu
nd (212) for two grants.
 $35,108 for the Lunch at the Library Grant which is a state-wide initia
tive that provides resources to libraries for
establishing summer meal sites or providing
programming and resources at other meal sites; the
grant concludes in January 2027.
 $15,000 for the Civic Makers Lab for Adults initiative which equips librarians
to serve as civic learning
facilitators and empowers young adults to be active
contributors to their communities; the grant concludes in September 2027.
6 Libraries and Information Services Department

FY 2026 Budget Amendments

5. Purchase of Clean Air Vehicles
• Appropriate $64,000 from the unappropriated fund
balance in the Air Q
uality Improvement Fund (216) to
purchase two clean-air electric vehicles for the Finance Department’s Business License Inspectors.
 In addition to $7,200 approved by the City Council on October 27, 2025, to
lease a vehicle.
 Finance Department decided to purchase the vehicle
instead of leasi
ng and requested a second vehicle.
 Supports the City’s ongoing commitment to sustainability and clean-air init
iatives.
7 Human Resources Department

FY 2026 Budget Amendments

6. CalHome Award Funding
• Recognize revenue and appropriate $2,625,000 of the
$5,000,000 CalHom
e Program award funded by the
State of California Department of Housing and
Community Development approved by the City
Council on May 20, 2024, in the Other Housing Fund
(238).
 The program provides down payment assistance to low-
income households and
provides financing for the
rehabilitation and construction of accessory dwelling
units (ADUs).
 The remaining balance of the grant award will
budgeted before the g
rant terminates in July 2027.
8 Housing Department

FY 2026 Budget Amendments

7. Year-End Budget Reconciliation
• Appropriate $4,381,000 from the unappropriated fund
balances of the follo
wing funds to align budgeted
appropriations with projected expenditures through
June 30, 2026.
a) $4,196,000 in the Rental Assistance Programs Fund (220) to account for
rising rents and the administration of
partner PHAs, for which reimbursement is expected.
b) $148,000 in the Low and Moderate Income Housing
Fund (237) to acco
unt for increased administrative
costs.
c) $37,000 in the Inclusionary Housing Trust Fund (239) to account for increas
ed administrative costs.
9 Housing Department

FY 2026 Budget Amendments

8. Fiscal Impact
• Approval of the proposed budget amendments will
increase FY 2026 tot
al authorized operating
appropriations across multiple funds by $10,806,108.
• These additional costs will be offset through increased revenue of $2,750,108.
• T
he General Fund’s unappropriated fund balance will
decrease by $3,536,000
10 Finance Department

NEW BUSINESS
ITEM 4

4. QUARTERLY INVESTMENT REPORT – Q
UARTER ENDING MARCH 31, 2026

Age da epo
TO: Honorable Mayor and City Council
THROUGH: Finance Committee
FROM: Department of Finance
June 22, 2026
SUBJECT: QUARTERLY INVESTMENT REPORT - QUARTER ENDING
MARCH 31, 2026
RECOMMENDATION:

This report is for information. There is no staff recommendation for this item. The City Council may; however, take action relating to this item as it deems appropriate following consideration and discussion of the matter.

BACKGROUND:

Government Code Section 53646 (2)(b)(1) states that in the case of a local agency, the Treasurer or Chief Fiscal Officer (CFO) may render a quarterly report to the legislative body of the local agency containing detailed information on: 1) all securities, investments, and moneys of the local agency; 2) a statement of compliance of the portfolio with the statement of investment policy; and 3) a statement of the local agency's ability to meet its pool's expenditure requirements for the next six-months. By making these reports optional, this bill does not impose a state-mandated local program; however, encourages local agencies to continue to report. The bill also states that the Treasurer or CFO may report whatever additional information or data may be required by the legislative body of the local agency.

The quarterly report shall include the following:

1. The type of investment, name of the issuer, date of maturity, par, and dollar amount invested in each security, investment, and money within the treasury;

2. The weighted average maturity of the investments within the treasury;

3. Any funds, investments, or programs, including loans, that are under the management of contracted parties;
MEETING OF ______ _ AGENDA ITEM NO. ____ _

Quarterly Investment Report - Quarter Ending March 31, 2026 June 22, 2026

4. The market value as of the date of the report and the source of this valuation for any security within the treasury; and

5. A description of the compliance with the Statement of Investment Policy.

Economic Summary
The U.S. economy showed moderate but broad-based growth in the first quarter (Q1) of 2026, supported by stronger business investment, resilient consumer spending, and improving labor market conditions. At the same time, households and businesses continued to navigate elevated inflation, higher energy costs, housing market challenges, and increased financial market volatility driven by geopolitical tensions and economic uncertainty.

Growth (GDP):

The U.S. economy grew at a solid annual rate of 2.0 percent in Q1 of 2026 according to the advance estimate released by the U.S. Bureau of Economic Analysis, up from 0.5 percent growth in the fourth quarter of 2025. This acceleration was driven by stronger investment, exports, and government spending, along with continued consumer spending. Imports also rose during the period, which subtracts from the overall gross domestic product calculation.

Consumer Spending:

Consumer spending in early 2026 remained resilient but showed clear shifts in behavior. Growth was driven primarily by spending on services, while purchases of durable goods were flat and spending on non-durable goods declined slightly. Inflation pressures increased during the quarter, with higher gasoline prices contributing to rising household costs.

Housing Market:

The residential housing market showed improvement compared to last year, with mortgage rates falling below 6 percent in February and spurring greater activity. More listings and slower home price growth also helped affordability. However, persistent economic concerns, unseasonable weather, and a late-quarter rise in interest rates held back performance. As a result, existing home sales were flat for the quarter, while single-family starts and new home sales declined. Builders faced challenges from storms, higher construction costs, and elevated unsold inventory, and buyer hesitation increased amid broader uncertainties.

Labor Market:

Labor market conditions improved in early 2026, with stronger job growth, a slightly lower unemployment rate, and continued resilience in workforce participation among prime-age workers. Private sector hiring increased significantly after slowing at the end of 2025, while reductions in federal government payroll declines also supported overall

Quarterly Investment Report - Quarter Ending March 31, 2026 June 22, 2026

job gains. The unemployment rate averaged 4.3 percent during the first quarter, remaining consistent with a stable economic environment. Job openings also increased modestly after declining throughout 2025, while layoffs and unemployment claims remained low by historical standards.

Inflation:

Inflation trends in early 2026 were mixed. Core inflation, which excludes food and energy prices, continued to moderate on an annual basis, reflecting slower increases in housing costs and generally stable goods prices. However, some service categories, including medical services and air travel, saw renewed price increases during the first quarter. Food price inflation also eased somewhat compared with a year earlier, although prices for dining out remained elevated.

Headline inflation increased more noticeably due largely to higher energy prices linked in part to the conflict with Iran. Despite recent increases in energy-related costs, underlying inflation pressures outside of those categories showed signs of continued moderation overall.

Financial Markets:

US equities started the year on a positive note but declined overall during Q1 of 2026 amid concerns over artificial intelligence disruptions, stress in private credit markets, and rising geopolitical tensions in the Middle East. The S&P 500 Index fell 4.3 percent.

Fixed income markets were largely unchanged as the Federal Reserve kept interest rates steady amid persistent inflation. The Bloomberg US Aggregate Bond Index was flat for the quarter. Commodities delivered strong gains, with the Bloomberg Commodity Index rising 24.4 percent. Oil prices jumped 76.8 percent, driven by supply disruptions from Middle East tensions, ending the quarter at $101.38 dollars per barrel. Gold prices increased 7.1 percent overall.

Total Funds Under Management
The table below represents total City funds under management based on their market values as of March 31, 2026:
3/31/2026 12/31/2025 Change
Pooled Investment Portfolio $831,765,745 $847,426,361 (15,660,616) Capital Endowment 1,576,480 1,561,705 14,775
Power Fund Reserve for Working 46,254,869 45,939,555 315,314 Capital Special Funds 18,209,935 18,044,639 165,296
Investments Held with Fiscal Agents 244,960,747 243,247,221 1,713,526 PARS Section 115 Trust 10,772,023 17,830,662 (7,058,639) Total Funds Under Management $1,153,539,799 $1,174,050,143 $(20,510,344)

Quarterly Inve stment Report - Quarter Ending March 31, 2026 June 22, 2026

The Pooled Investment Portfolio value decreased by a net of $15,660,616 due to the following cash transactions during the quarter:

Net Investment Earnings (Fair Market Value Change plus Interest Income) $ 5,459,714 Deposits and Credit Card Receipts 132,247,865
Property Tax Revenues 34,103,389
Sales Tax and Other State Apportionments 20,473,522
HUD Receipts Net of Payments and Loans 5,648,531
Payroll and Payroll-related Expenses (100,210,504)
Vendor Payments and Accounts Payable Checks (86,672,601) Debt Service Payments Net of Reimbursements and Subsidies (21,074,643) Water and Power Payments Net of Receipts (23,396,431)
Net Transfer from Other Funds 4,079,531
Sales Proceeds for Property from Cal Trans related to the 710 highway Project 12,681,012 One Arroyo Foundation Grant 1,000,000
Received funds from PARS Section 115 to pay unfunded Accrued Liability for Plan 75 7,000,000 Paid CALPERS Unfunded Accrued Liability Additional Contribution on Plan 75 (7,000,000) Total $ (15,660,616)
The Capital Endowment Fund increased by $14,775, representing investment earnings for the period.

The Power Fund Reserve for Working Capital portfolio increased by $315,314, representing investment earnings for the period adjusted by the change in the market value of investments.

The Special Funds increased by $165,296, representing investment earnings for the period adjusted by the change in market value of investments.

Investments held with fiscal agents increased by a net $1,713,526 due to the following:
• A decrease of $5,139,476 in trustee accounts for debt service payments made on the 2008 Paseo Bonds, 201 OD Rose Bowl Bonds and 2025 General Obligation bonds.
• An increase of $5,345,375 in trustee accounts for debt service payment received on 3/27/2026 but paid on 4/1/2026 related to the 2016A Rose Bowl Bonds • An increase of $1,507,627 from investment earnings, adjusted for changes in the market value of investments.

The PARS Section 115 Trust account decreased by $7,058,639. The change was comprised of a $42,000 decrease in market value adjusted by $16,639 in investment expenses and withdrawal of $7 million from Pension account to pay CalPERS to reduce future Liability
The City pools all internal funds to gain economies of scale and to simplify the investment function. There are over 100 funds in the Pooled Investment Portfolio. As of March 31, 2026, the General Fund's investment balance was estimated at $83.6 million,

Quarterly Investment Report- Quarter Ending March 31, 2026 June 22, 2026

representing 7.25 percent of the Pooled Portfolio value. The General Fund's cash balance fluctuates daily based on the timing of revenues, receipts, and payment of expenditures. Investments in the Capital Endowment Fund, the Power Fund Reserve for Working Capital, the Special Funds, the PARS Section 115 Trust account, and funds held with fiscal agents are restricted funds or bond proceeds reserved in accordance with the City Charter, City ordinances, bond indentures, and Trust Agreements. The City targets an average duration of two years in managing the pooled portfolio with an effective historic duration range of 1.5 to 2.5 years based on market conditions and the portfolio's risk and return evaluation, the Treasury yield curve, and industry best practices as it pertains to public funds management. As of March 31, 2026, the portfolio's effective duration was 2.42 years.

Per government code requirements, attached are reports by each fund indicating the type of investments, date of maturity, par and dollar amount invested in each security, and investment and moneys within the Treasury with market values as of March 31, 2026. On a monthly basis, the City Treasurer prices the pooled portfolio and all other funds and investments under management. The market values are obtained from Interactive Data Corporation (IDC) and from Bloomberg Financial System. IDC is an independent third-party whose sole service is to provide market prices for all types of securities.

The types of securities held in the portfolio and their percentage allocation to the total are in compliance with the City's Fiscal Year 2026 Investment Policy, which was adopted by the City Council on June 9, 2025, and Section 53600 of the State Government Code. The City Treasurer targets to maintain in excess of $70 million short-term, liquid investments (1-to-90-day maturities), which represent approximately 1/12 of the City's total aggregate annual Operating Budget. As of March 31, 2026, the portfolio had $167.9 million in overnight short-term investments. This balance, along with anticipated cash flows into the City's account, represents a strong liquidity position to meet budgeted expenditures for the next three-months.

The yield to maturity on the pooled portfolio began gradually increasing beginning April 2023 as a result of the Fed tightening the monetary policy by raising the Fed Funds rate. However, the Fed cut the overnight Fed Funds rate three times in 2025 and interest rates across the Treasury yield curve decreased during the quarter with the most declines occurring on the two to five-year maturities. The yield on the pooled portfolio tripled in the last twenty-four months and is expected to moderate depending on the Fed's actions over the next twelve-month period. The earnings rate on the pooled portfolio as of April 2026 was 4.01 percent.

Quarterly Investment Report - Quarter Ending March 31, 2026 June 22, 2026

The graph below represents the historic yield of the Pooled Portfolio from July 2021 to period ending April 30, 2026:

4.50%

4.00%

3.50%

3.00%

2.50%

2.00%

1.50%

1.00%

0.50%

0.00%
Banking Regulations:

Pooled Portfolio Yield
� ::::, �
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Pursuant to City Council's request for an explanation of the new banking regulations implemented as a result of the 2008 banking crisis, the following is a summary of the regulations:

Following the 2007-2008 Great Financial Crisis, global regulators fundamentally overhauled the rules governing the banking sector to prevent another systemic meltdown. The cornerstone of this effort was the Basel Ill Accord, an international regulatory framework implemented to ensure banks could survive severe economic stress. Regulators dramatically increased capital requirements, forcing banks to hold a significantly larger buffer of high-quality assets (like common equity) relative to their risk exposures. The goal was simple: if a bank's loans went bad, it needed enough of its capital to absorb the losses without requiring a government bailout. Alongside capital, strict liquidity requirements were introduced for the first time, mandating that banks hold enough easily sellable, high-quality liquid assets to survive a 30-day severe cash crunch.

In the United States, these global efforts were codified and expanded through the landmark Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. A major pillar of this legislation was the Volcker Rule, which prohibited commercial banks from engaging in proprietary trading-essentially stopping them from gambling with depositors' insured money for their own profit. Additionally, regulators introduced annual "stress tests" (Comprehensive Capital Analysis and Review, or CCAR) for large financial institutions. These simulations force banks to prove they have enough capital to weather hypothetical economic disasters, like skyrocketing unemployment or a collapsing housing market. For the largest institutions deemed "Too Big to Fail," regulators imposed extra capital surcharges and required them to submit "living wills" detailed structural maps outlining how they could be dismantled in bankruptcy without requiring a taxpayer bailout.

Quarterly Investment Report - Quarter Ending March 31, 2026 June 22, 2026

COUNCIL POLICY CONSIDERATION:

This quarterly report supports the City Council's strategic planning goal to maintain fiscal responsibility and stability.

FISCAL IMPACT:

There is no fiscal impact as a result of this report, nor will it have any indirect or support cost requirements. There is no anticipated impact to other operational programs or capital projects.

Respectfully submitted,
,/ cf ,-L
��AID���
Director of Finance
anian
City reasurer/Deputy Finance Director
Approved by:

Interim City Manager
Attachment: (1)
Attachment A - Quarterly Investment Report - Quarter Ending March 31, 2026

City of Pasadena
Quarterly Investment Report
Quarter Ending 03/31/2026
Prepared by the Department of Finance
Treasury Division
Attachment A

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

I. Pooled Investment Portfolio

CITY OF PASADENA
Treasurer's Pooled Investment Portfolio
Vicken Erganian
City Treasurer
March 2026

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 June 9, 2025. 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 03/31/2026

TYPE MARKET VALUE PERCENT
Money Market - Collateralized 1,292 0.00%
Certificates of Deposit 10,000,000 1.21%
Municipal Bonds 62,088,608 7.52%
Corporate Bonds 159,346,392 19.31%
Federal Agencies 367,891,996 44.57%
US Treasury Securities 39,803,935 4.82%
Supranationals 5,006,730 0.61%
Commercial Paper 9,897,290 1.20%
Money Market-CAMP 92,349,142 11.19%
Money Market Fund-US Bank 3,480,154 0.42%
LAIF 75,051,993 9.09%
Cash in Bank 493,564 0.06%
TOTALS: 825,411,096 100.00%
Accrued Interest Receivable 6,354,650
GRAND TOTAL: 831,765,745
PORTFOLIO LIQUIDITY AS OF 03/31/2026
Percent of
Aging Interval Par Value Portfolio
0-30 Days 178,376,144 21.44%
31 days - 1 Year 83,933,000 10.09%
1 - 2 Years 52,350,000 6.29%
2 - 3 Years 95,800,000 11.51%
3 - 4 Years 64,390,000 7.74%
4 - 5 Years 354,949,000 42.66%
Over 5 Years 2,281,924 0.27%
TOTAL: 832,080,068 100.00%
Mar-26 Feb-26 Jan-26 Dec-25 Nov-25 Oct-25
Month-End Market Value 831,765,745 848,376,903 868,873,489 847,426,361 803,935,721 806,770,379 Modified Duration 2.42 2.18 2.16 2.16 2.17 2.19
Weighted Average Maturity 2.70 2.46 2.49 2.46 2.42 2.43 Current Book Yield to Maturity 4.008% 3.896% 3.812% 3.816% 3.822% 3.793% Effective Yield - Year to Date 3.730% 3.700% 3.660% 3.640% 3.610% 3.560% Interest Earned 2,617,101 2,497,359 2,563,222 2,448,583 2,344,446 2,297,166 Fiscal Year To Date Interest Earned 21,162,061 18,544,960 16,047,601 13,484,378 11,035,795 8,691,349 Fair Value Change Gain/(Loss) (3,549,605) 1,112,427 219,210 291,186 1,012,254 694,943 Fiscal Year To Date change in fair value 2,602,387 6,151,993 5,039,566 4,820,356 4,529,170 3,516,916 Total Fiscal YTD Earnings 23,764,448 24,696,953 21,087,166 18,304,734 15,564,965 12,208,265

PORTFOLIO STATISTICS
MMF-Collateral

0.00%
Certificates of
Deposit

1.21%
Muni

7.52%
Corp Bond

19.31%
Fed Agency

44.57%
US Treasury

4.82%
Supranationals

0.61%
Commercial
Paper

1.20%
Money Market-
CAMP

11.19%
Money Market
Fund-US Bank

0.42%
LAIF

9.09% Cash
in
Bank

0.06%
1

Monthly for Pool
Portfolio Management Page 1
Portfolio Details - Investments
March 31, 2026
Average Purchase Stated YTM Days to Maturity
CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate Moody's 365 Maturity Date LAIF
SYS864 864 Local Agency Investment Fund 74,780,005.46 74,780,005.46 74,780,005.46 3.980 3.980 SYS14053 14053 LAIF-COVID Relief Funds Acct 271,987.07 271,987.07 271,987.07 3.980 3.980 --------- Subtotal and Average 75,051,992.53 75,051,992.53 75,051,992.53 75,051,992.53 3.980 Money Market Fund-CAMP
SYS13824 13824 California Asset Management Pr 92,349,141.70 92,349,141.70 92,349,141.70 3.800 3.853 --------- Subtotal and Average 120,361,797.70 92,349,141.70 92,349,141.70 92,349,141.70 3.853 Collateralized Money Market
SYS13067 13067 EAST WEST BANK 1,292.30 1,292.30 1,292.30 3.050 3.050 --------- Subtotal and Average 1,292.20 1,292.30 1,292.30 1,292.30 3.050 Money Market Fund-US Bank
SYS14155 14319 Fidelity MMF Pldgd 2010CabRes 3,480, 153.82 3,480, 153.82 3,480, 153.82 3.660 3.711 --------- Subtotal and Average 3,479,846.40 3,480,153.82 3,480, 153.82 3,480,153.82 3.711 Municipal Bonds
80168AGX9 14103 SANTA CLARA VALLEY WATER DISTR 09/24/2024 3,000,000.00 3,000, 120.00 3,000,000.00 3.880 Aa1 3.877 61 06/01/2026 544646A77 14027 LOS ANGELES CA UNIF SCH DIST 10/20/2023 1,975,000.00 2,008,657.95 1,974,648.51 5.720 Aa2 5.738 395 05/01/2027 91412HGF4 14072 UNIVERSITY OF CA REVENUE BONDS 05/13/2024 3,000,000.00 2,915,421.00 2,892,320.18 1.316 Aa2 4.788 409 05/15/2027 91412HGF4 14074 UNIVERSITY OF CA REVENUE BONDS 05/17/2024 5,000,000.00 4,859,035.00 4,825,695.36 1.316 Aa2 4.508 409 05/15/2027 357155BA7 14088 Fremont Unified School Distri 08/29/2024 3,975,000.00 3,838,136.78 3,833,006.35 1.113 Aa2 3.977 487 08/01/2027 544351RM3 14077 CITY OF LOS ANGELES 07/09/2024 3,000,000.00 3,084,000.00 3,053,509.45 6.000 Aa2 4.630 518 09/01/2027 13068XRT8 14243 California ST Public Works 11/05/2025 1,400,000.00 1,394,281.00 1,400,000.00 3.720 Aa3 3.720 579 11/01/2027 13068XNT2 14174 California ST Public Works 04/17/2025 2,000,000.00 2,023,396.00 2,000,000.00 4.525 Aa3 4.524 731 04/01/2028 21969AAG7 14036 City of Corona Revenue Bond 11/29/2023 2,500,000.00 2,389, 125.00 2,346,890.70 1.863 AA+ 5.190 761 05/01/2028 544647KY5 14182 LOS ANGELES CA UNIF SCH DIST 05/13/2025 2,000,000.00 2,017,352.00 2,000,000.00 4.423 Aa2 4.421 822 07/01/2028 672240ZJ0 14261 CITY OF OAKLAND 12/18/2025 3,110,000.00 3,106,463.93 3,114,754.84 4.045 Aa2 3.576 836 07/15/2028 032591VS5 14200 ANAHEIM CA UNION SCH DIST 06/24/2025 3, 120,000.00 3,193,061.04 3,178,774.43 5.000 Aa1 4.130 853 08/01/2028 798170AL0 14078 San Jose Redevelopment Agency 06/26/2024 2,700,000.00 2,646,753.30 2,607,742.37 3.125 AA 4.753 853 08/01/2028 13063EBP0 14093 California St Health Faes Fing 09/03/2024 5,000,000.00 5, 188,490.00 5, 184,679.44 5.125 Aa2 3.925 1,249 09/01/2029 13063D2W7 14128 STATE OF CALIFORNIA GO BONDS 10/01/2024 4,500,000.00 4,660,357.50 4,698,418.50 5.100 Aa2 3.708 1,279 10/01/2029 13068XNN5 14142 California ST Public Works 11/01/2024 8,890,000.00 8,944,469.03 8,827,944.84 4.230 Aa3 4.449 1,310 11/01/2029 91412HGG2 14186 UNIVERSITY OF CA REVENUE BONDS 05/15/2025 5,000,000.00 4,537,565.00 4,491,317.78 1.614 Aa2 4.390 1,505 05/15/2030 SYS14076 14076 PCOC Debt-General Fund 06/05/2024 2,281,923.73 2,281,923.73 2,281,923.73 3.000 Aaa 3.000 2,987 06/05/2034 --------- Subtotal and Average 61,694,740.54 62,451,923.73 62,088,608.26 61,711,626.48 4.270 947 Portfolio PASD
Data Updated: SET_POOL: 04/23/2026 19:55
Run Date: 04/23/2026 - 19:55
Report Ver. 7.3.11
2

Monthly for Pool
Portfolio Management Page2
Portfolio Details - Investments
March 31, 2026
Average Purchase Stated YTM Days to Maturity
CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate Moody's 365 Maturity Date Certificates of Deposit - Bank
BMO90DCD1 14284 Bank of Montreal 02/20/2026 5,000,000.00 5,000,000.00 5,000,000.00 3.141 3.141 49 05/20/2026 --------- Subtotal and Average 5,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 3.141 49 Negotiable CD's
06428KAL0 14246 BANK OF AMERICA CORP 10/30/2025 5,000,000.00 5,000,000.00 5,000,000.00 4.000 A2 4.003 943 10/30/2028 --------- Subtotal and Average 5,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 4.003 943 Federal Agency Issues - Coupon
3133EM6E7 13960 Federal Fann Credit Bank 09/28/2021 5,000,000.00 4,931,460.00 5,000,000.00 0.940 Aa1 0.940 180 09/28/2026 3130ANYN4 13953 Federal Home Loan Bank 09/30/2021 5,000,000.00 4,932,680.00 5,000,000.00 1.000 Aa1 1.000 182 09/30/2026 3130APDQ5 13964 Federal Home Loan Bank 10/28/2021 5,000,000.00 4,928, 115.00 5,000,000.00 1.250 Aa1 1.250 210 10/28/2026 3130BA3H8 14298 Federal Home Loan Bank 03/30/2026 10,000,000.00 10,003,070.00 10,000,000.00 4.260 Aa1 4.260 727 03/28/2028 3134HCMG1 14271 FED HOME LOAN MORTAGE CORP 01/20/2026 7,000,000.00 6,966,645.00 7,000,000.00 4.000 Aa1 4.000 1,013 01/08/2029 3134HCNV7 14273 FED HOME LOAN MORTAGE CORP 01/16/2026 10,000,000.00 9,976,840.00 10,000,000.00 4.000 Aa1 4.000 1,014 01/09/2029 3136GCQG3 14288 FED NATIONAL MORTGAGE ASSN 03/02/2026 3,870,000.00 3,829,318.56 3,870,000.00 3.900 Aa1 3.900 1,066 03/02/2029 3134HCXT1 14291 FED HOME LOAN MORTAGE CORP 03/09/2026 5,000,000.00 4,986,250.00 5,000,000.00 4.000 Aa1 4.000 1,073 03/09/2029 3134HCZA0 14292 FED HOME LOAN MORTAGE CORP 03/12/2026 7,000,000.00 6,983,683.00 7,000,000.00 4.150 Aa1 4.150 1,076 03/12/2029 3136GCUM5 14293 FED NATIONAL MORTGAGE ASSN 03/23/2026 5,000,000.00 4,983,985.00 5,000,000.00 4.150 Aa1 4.150 1,087 03/23/2029 3130B5MV7 14170 Federal Home Loan Bank 03/27/2025 5,000,000.00 4,995,505.00 5,000,000.00 4.600 Aa1 4.600 1,091 03/27/2029 3134HCCT4 14256 FED HOME LOAN MORTAGE CORP 12/08/2025 5,000,000.00 4,978,650.00 5,000,000.00 4.000 Aa1 4.000 1,164 06/08/2029 3133ETNA1 14201 Federal Fann Credit Bank 07/02/2025 5,000,000.00 4,990,015.00 5,000,000.00 4.500 Aa1 4.500 1,372 01/02/2030 3133ETCF2 14173 Federal Fann Credit Bank 04/09/2025 5,000,000.00 4,990,625.00 5,000,000.00 4.520 Aa1 4.520 1,469 04/09/2030 3130B64J2 14180 Federal Home Loan Bank 05/06/2025 5,000,000.00 4,978, 120.00 5,000,000.00 4.550 Aa1 4.550 1,496 05/06/2030 3130B6V60 14202 Federal Home Loan Bank 07/08/2025 5,000,000.00 4,990,995.00 5,000,000.00 4.570 Aa1 4.570 1,559 07/08/2030 3133ETSU2 14209 Federal Fann Credit Bank 08/12/2025 10,000,000.00 9,965,220.00 10,000,000.00 4.330 Aa1 4.330 1,594 08/12/2030 3130B7FJ8 14211 Federal Home Loan Bank 08/20/2025 5,000,000.00 4,981,750.00 5,000,000.00 4.340 Aa1 4.340 1,602 08/20/2030 3130B7RX4 14229 Federal Home Loan Bank 09/16/2025 10,000,000.00 9,912,740.00 10,000,000.00 4.250 Aa1 4.250 1,617 09/04/2030 3134HBL90 14224 FED HOME LOAN MORTAGE CORP 09/05/2025 10,000,000.00 9,956,930.00 10,000,000.00 4.300 Aa1 4.300 1,618 09/05/2030 3130B7N34 14220 Federal Home Loan Bank 09/09/2025 5,000,000.00 4,949,055.00 5,000,000.00 4.200 Aa1 4.200 1,622 09/09/2030 3130B7QC1 14226 Federal Home Loan Bank 09/23/2025 10,000,000.00 9,907,360.00 10,000,000.00 4.250 Aa1 4.250 1,636 09/23/2030 3130B7QC1 14232 Federal Home Loan Bank 09/23/2025 9,530,000.00 9,441,714.08 9,530,000.00 4.250 Aa1 4.250 1,636 09/23/2030 3134HBR78 14239 FED HOME LOAN MORTAGE CORP 10/14/2025 5,000,000.00 4,974,565.00 4,999,501.63 4.250 Aa1 4.252 1,636 09/23/2030 3134HBR78 14244 FED HOME LOAN MORTAGE CORP 10/24/2025 5,000,000.00 4,974,565.00 5,000,000.00 4.250 Aa1 4.250 1,636 09/23/2030 3134HBS69 14233 FED HOME LOAN MORTAGE CORP 09/26/2025 10,000,000.00 10,008,560.00 10,000,000.00 4.300 Aa1 4.300 1,639 09/26/2030 3134HBS69 14236 FED HOME LOAN MORTAGE CORP 10/09/2025 10,000,000.00 10,008,560.00 10,000,000.00 4.300 Aa1 4.300 1,639 09/26/2030 3134HBS69 14237 FED HOME LOAN MORTAGE CORP 10/09/2025 10,000,000.00 10,008,560.00 10,000,000.00 4.300 Aa1 4.300 1,639 09/26/2030 3130B8E65 14245 Federal Home Loan Bank 10/29/2025 5,000,000.00 4,944,230.00 5,000,000.00 4.000 Aa1 4.000 1,659 10/16/2030 3130B8FN7 14247 Federal Home Loan Bank 10/30/2025 5,000,000.00 4,953, 165.00 5,000,000.00 4.000 Aa1 4.000 1,659 10/16/2030 Portfolio PASD
Data Updated: SET_POOL: 04/23/2026 19:55
Run Date: 04/23/2026 - 19:55
3

Average
CUSIP Investment# Issuer Balance
Federal Agency Issues - Coupon
3134HBZ38 14241 FED HOME LOAN MORTAGE CORP
3134HBZ38 14242 FED HOME LOAN MORTAGE CORP
3136GC3K9 14248 FED NATIONAL MORTGAGE ASSN
3136GC3V5 14249 FED NATIONAL MORTGAGE ASSN
3136GC3E3 14250 FED NATIONAL MORTGAGE ASSN
3136GC4H5 14251 FED NATIONAL MORTGAGE ASSN
313088NC2 14254 Federal Home Loan Bank
3134HB6L0 14253 FED HOME LOAN MORTAGE CORP
3134HCCW7 14257 FED HOME LOAN MORTAGE CORP
3136GCA39 14262 FED NATIONAL MORTGAGE ASSN
3134HCGT0 14263 FED HOME LOAN MORTAGE CORP
3134HCLV9 14268 FED HOME LOAN MORTAGE CORP
3134HCLP2 14267 FED HOME LOAN MORTAGE CORP
3134HCNC9 14270 FED HOME LOAN MORTAGE CORP
3130895J5 14272 Federal Home Loan Bank
3134HCRN1 14277 FED HOME LOAN MORTAGE CORP
3134HCRS0 14278 FED HOME LOAN MORTAGE CORP
3134HCTC3 14279 FED HOME LOAN MORTAGE CORP
3134HCTC3 14282 FED HOME LOAN MORTAGE CORP
3136GCLA1 14280 FED NATIONAL MORTGAGE ASSN
3134HCXL8 14290 FED HOME LOAN MORTAGE CORP
3130B9PH7 14285 Federal Home Loan Bank
3136GCQN8 14287 FED NATIONAL MORTGAGE ASSN
3134HCA41 14295 FED HOME LOAN MORTAGE CORP
3130B9WL0 14294 Federal Home Loan Bank
3130B9ZS2 14297 Federal Home Loan Bank
Subtotal and Average 345,834,633.47
Treasury Securities - Coupon
91282CCW9 13963 US TREASURY
91282CLP4 14140 U.S. TREASURY
91282CNE7 14198 U.S. TREASURY
91282CQH7 14296 U.S. TREASURY
91282CPR6 14276 U.S. TREASURY
Subtotal and Average 29,910,166.44
Data Updated: SET_POOL: 04/23/2026 19:55
Run Date: 04/23/2026 - 19:55
Monthly for Pool
Portfolio Management
Portfolio Details - Investments
March 31, 2026
Purchase
Date Par Value Market Value
10/17/2025 10,000,000.00 9,951,340.00
10/23/2025 10,000,000.00 9,951,340.00
10/31/2025 10,000,000.00 9,924,970.00
11/06/2025 10,000,000.00 9,919,030.00
11/06/2025 5,000,000.00 4,958,955.00
11/12/2025 5,000,000.00 4,963,355.00
11/20/2025 5,000,000.00 4,972,820.00
11/20/2025 2,950,000.00 2,936,235.30
12/15/2025 10,000,000.00 9,899,740.00
12/09/2025 5,000,000.00 4,965,840.00
12/11/2025 5,000,000.00 4,948,955.00
01/07/2026 10,000,000.00 9,908,450.00
12/24/2025 5,000,000.00 4,971,005.00
01/13/2026 10,000,000.00 9,924,600.00
01/27/2026 5,000,000.00 4,955,875.00
01/28/2026 5,000,000.00 4,953,630.00
01/28/2026 5,000,000.00 4,974,395.00
02/06/2026 5,000,000.00 4,954,225.00
02/12/2026 5,000,000.00 4,954,225.00
02/10/2026 5,000,000.00 4,974,275.00
03/05/2026 10,000,000.00 9,966,300.00
03/11/2026 5,000,000.00 4,980,450.00
03/11/2026 5,000,000.00 4,980,880.00
03/24/2026 5,000,000.00 4,964,390.00
03/25/2026 4,640,000.00 4,615,254.88
03/25/2026 5,000,000.00 4,988,530.00
369,990,000.00 367,891,995.82
09/24/2021 5,000,000.00 4,938,595.00
10/22/2024 10,000,000.00 9,986,480.00
06/09/2025 5,000,000.00 5,003,320.00
03/31/2026 5,000,000.00 5,007,225.00
01/21/2026 5,000,000.00 4,932,615.00
30,000,000.00 29,868,235.00
Stated
Book Value Rate
10,000,000.00 4.200
10,000,000.00 4.200
10,000,000.00 4.250
10,000,000.00 4.125
5,000,000.00 4.300
5,000,000.00 4.250
5,000,000.00 4.250
2,950,000.00 4.280
10,000,000.00 4.250
5,000,000.00 4.150
5,000,000.00 4.200
10,000,000.00 4.125
5,000,000.00 4.200
10,000,000.00 4.100
5,000,000.00 4.210
5,000,000.00 4.150
5,000,000.00 4.250
5,000,000.00 4.200
5,000,000.00 4.200
5,000,000.00 4.230
10,000,000.00 4.250
5,000,000.00 4.150
5,000,000.00 4.125
5,000,000.00 4.250
4,640,000.00 4.400
5,000,000.00 4.500
369,989,501.63
4,996,474.40 0.750
9,975,297.93 3.500
4,991,365.34 3.875
5,003,333.68 3.875
4,950,812.63 3.625
29,917,283.98
Page3
YTM Days to Maturity
Moody's 365 Maturity Date
Aa1 4.200 1,660 10/17/2030
Aa1 4.200 1,660 10/17/2030
Aa1 4.250 1,673 10/30/2030
Aa1 4.125 1,680 11/06/2030
Aa1 4.300 1,680 11/06/2030
Aa1 4.250 1,686 11/12/2030
Aa1 4.249 1,688 11/14/2030
Aa1 4.277 1,688 11/14/2030
Aa1 4.250 1,706 12/02/2030
Aa1 4.150 1,713 12/09/2030
Aa1 4.200 1,715 12/11/2030
Aa1 4.125 1,720 12/16/2030
Aa1 4.200 1,722 12/18/2030
Aa1 4.100 1,744 01/09/2031
Aa1 4.310 1,762 01/27/2031
Aa1 4.150 1,763 01/28/2031
Aa1 4.250 1,763 01/28/2031
Aa1 4.200 1,772 02/06/2031
Aa1 4.200 1,772 02/06/2031
Aa1 4.230 1,776 02/10/2031
Aa1 4.250 1,799 03/05/2031
Aa1 4.150 1,805 03/11/2031
Aa1 4.125 1,805 03/11/2031
Aa1 4.250 1,818 03/24/2031
Aa1 4.400 1,819 03/25/2031
Aa1 4.500 1,819 03/25/2031 ---------

4.102 1,511
Aa1 0.924 152 08/31/2026
Aa1 4.019 182 09/30/2026
Aa1 4.030 425 05/31/2027
Aa1 3.840 730 03/31/2028
Aa1 3.854 1,735 12/31/2030 ---------

3.447 566
Portfolio PASO
4

Average
CUSIP Investment# Issuer Balance
Corporate Bonds - Coupon
06048WM31 13934 BANK OF AMERICA CORP
06048WM64 13945 BANK OF AMERICA CORP
78016EZT7 13958 ROYAL BANK OF CANADA
22550L2G5 13961 Credit Suisse New York
89236TLD5 14033 Toyota Motor Credit Corp
59217GBY4 14043 Met Life Glob Funding I
62829D2D1 14155 MUTUAL OF OMAHA GLOBAL
023135BC9 14080 Amazon.com Inc
478160CK8 14048 Johnson & Johnson
037833EC0 14265 APPLE INC
91159HHS2 14169 US BANCORP
91159XCK9 14188 US BANCORP
532457DB1 14217 Eli Lilly& Co
46632FWU5 14259 JPMORGAN CHASE FINANCIAL
62829D2B5 14040 MUTUAL OF OMAHA GLOBAL
46632FXC4 14264 JPMORGAN CHASE FINANCIAL
06055JPZ6 14274 BANK OF AMERICA CORP
17275RBR2 14101 CISCO SYSTEMS INC
38151GAC5 14286 GOLDMAN SACHS
110122CP1 14110 BRISTOL MYER
037833DP2 14281 APPLE INC
62829D2E9 14137 MUTUAL OF OMAHA GLOBAL
48130KNP8 14266 JPMORGAN CHASE FINANCIAL
91159XBH7 14168 US BANCORP
89837LAJ4 14260 TRUSTEES PRINCETON UNIV
64952WDS9 14210 NEW YORK LIFE GL
91159XDM4 14213 US BANCORP
95004HAH1 14214 WELLS FARGO BANK
58933YBQ7 14222 Merck & Co Inc
58933YBQ7 14235 Merck & Co Inc
46632FVW2 14230 JPMORGAN CHASE FINANCIAL
64952WFR9 14269 NEW YORK LIFE GL
46632FXT7 14275 JPMORGAN CHASE FINANCIAL
06055JQJ1 14283 BANK OF AMERICA CORP
Subtotal and Average 159,417,883.11
Data Updated: SET_POOL: 04/23/2026 19:55
Run Date: 04/23/2026 - 19:55
Monthly for Pool
Portfolio Management
Portfolio Details - Investments
March 31, 2026
Purchase Stated
Date Par Value Market Value Book Value Rate
05/28/2021 5,000,000.00 4,970,980.00 5,000,000.00 1.250 07/21/2021 3,623,000.00 3,597, 139.03 3,622,485.35 1.200 09/22/2021 6,250,000.00 6,198,593.75 6,249,907.08 1.150 09/24/2021 5,000,000.00 4,949,295.00 4,998,055.73 1.250 11/20/2023 5,000,000.00 5,039,045.00 4,999,045.83 5.400 12/18/2023 1,060,000.00 1,053,607.14 1,047,786.50 3.450 11/22/2024 4,000,000.00 4,034,680.00 4,021,332.84 5.350 07/03/2024 5,000,000.00 4,939,240.00 4,891,146.77 3.150 01/10/2024 5,000,000.00 4,912,475.00 4,899,411.21 2.900 12/18/2025 5,000,000.00 4,752,980.00 4,781,795.71 1.200 03/12/2025 5,000,000.00 4,963,670.00 4,947,074.51 3.900 05/13/2025 3,000,000.00 3,000,261.00 3,000,000.00 4.550 08/22/2025 5,000,000.00 4,993,990.00 4,998,023.57 4.000 12/11/2025 5,000,000.00 4,938,850.00 5,000,000.00 4.020 12/12/2023 4,500,000.00 4,595,238.00 4,512,598.72 5.450 12/15/2025 5,000,000.00 4,964,110.00 5,000,000.00 4.050 01/23/2026 5,000,000.00 4,985,650.00 5,000,000.00 4.100 09/06/2024 5,000,000.00 5,091,885.00 5,110,081.99 4.850 03/05/2026 5,000,000.00 5,000,000.00 5,000,000.00 3.950 09/26/2024 5,000,000.00 4,869,240.00 4,913,877.59 3.400 02/11/2026 5,000,000.00 4,713,755.00 4,756,373.64 2.200 10/15/2024 3,000,000.00 3,006,876.00 3,000,000.00 4.750 12/23/2025 5,000,000.00 4,960,225.00 5,000,000.00 4.200 03/12/2025 3,000,000.00 3,005,436.00 3,000,000.00 5.000 12/05/2025 5,000,000.00 5,057,405.00 5,131,527.95 4.647 08/07/2025 5,329,000.00 4,639,049.04 4,685,676.73 1.200 08/14/2025 5,000,000.00 4,969,200.00 5,000,000.00 4.700 08/14/2025 5,000,000.00 4,892,910.00 5,000,000.00 4.320 09/15/2025 5,000,000.00 4,970,215.00 5,006,861.56 4.150 10/02/2025 5,000,000.00 4,970,215.00 5,007,606.18 4.150 09/16/2025 5,000,000.00 4,919,595.00 5,000,000.00 4.300 01/09/2026 5,000,000.00 4,942,365.00 5,000,000.00 4.250 01/21/2026 7,500,000.00 7,467,742.50 7,500,000.00 4.335 02/12/2026 5,000,000.00 4,980,475.00 5,000,000.00 4.350 161,262,000.00 159,346,392.46 160,080,669.46
Page4
YTM Days to Maturity
Moody's 365 Maturity Date
A1 1.250 57 05/28/2026
A1 1.263 85 06/25/2026
A1 1.155 104 07/14/2026
Aa2 1.365 128 08/07/2026
A1 5.433 233 11/20/2026
Aa3 5.214 261 12/18/2026
A1 4.789 373 04/09/2027
A1 4.854 508 08/22/2027
Aaa 4.132 654 01/15/2028
Aaa 3.670 678 02/08/2028
A3 4.452 756 04/26/2028
A3 4.550 773 05/13/2028
Aa3 4.014 928 10/15/2028
Aa2 4.020 985 12/11/2028
A1 5.330 986 12/12/2028
Aa2 4.050 989 12/15/2028
A1 4.100 1,028 01/23/2029
A1 4.000 1,062 02/26/2029
A1 3.950 1,069 03/05/2029
A2 3.975 1,212 07/26/2029
Aaa 3.724 1,259 09/11/2029
A1 4.750 1,293 10/15/2029
A1 4.200 1,360 12/21/2029
A3 5.000 1,441 03/12/2030
Aaa 3.929 1,552 07/01/2030
Aa1 4.315 1,589 08/07/2030
A2 4.700 1,596 08/14/2030
Aa2 4.320 1,596 08/14/2030
Aa3 4.115 1,628 09/15/2030
Aa3 4.111 1,628 09/15/2030
Aa2 4.300 1,629 09/16/2030
Aa1 4.250 1,744 01/09/2031
Aa2 4.335 1,756 01/21/2031
A1 4.350 1,776 02/10/2031 ---------

3.937 1,051
Portfolio PASO
5

Average
CUSIP Investment# Issuer Balance
Commercial Paper Disc. -Amortizing
47816GG86 14289 Johnson & Johnson CP
Subtotal and Average 9,249,397.54
Treasury Discounts -Amortizing
912797SX6 14258 US TREASURY
Subtotal and Average 9,920,266.84
Supranationals
45906M5K3 14084 INTL BK RECON & DEVELOP
Subtotal and Average
Total and Average
Data Updated: SET_POOL: 04/23/2026 19:55
Run Date: 04/23/2026 - 19:55
5,000,000.00
829,922,016.77
Monthly for Pool
Portfolio Management
Portfolio Details - Investments
March 31, 2026
Purchase
Date Par Value Market Value
03/03/2026 10,000,000.00 9,897,290.00
10,000,000.00 9,897,290.00
12/04/2025 10,000,000.00 9,935,700.00
10,000,000.00 9,935,700.00
07/30/2024 5,000,000.00 5,006,730.00
5,000,000.00 5,006,730.00
829,586,504.08 824,917,531.89
Stated
Book Value Rate
9,901,303.27 3.650
9,901,303.27
9,935,353.69 3.605
9,935,353.69
5,000,000.00 4.750
5,000,000.00
827,418,318.86
Page5
YTM Days to Maturity
Moody's 365 Maturity Date
Aaa 3.749 98 07/08/2026 ---------

3.749 98
Aa1 3.775 64 06/04/2026 ---------

3.775 64
Aaa 4.750 1,216 07/30/2029 ---------

4.750

4.008
1,216
986
Portfolio PASO
6

COMPLIANCE REPORT
Pooled Investment Portfolio
As of 03/31/26
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 1.21% 30% In compliance n/a n/a In compliance In compliance Municipal Bonds 7.52% 100% In compliance Aaa/Aa3/Aa2/Aa1/A2/AA+/AA-/AAA/AA A or better In compliance In compliance US Treasury Securities 4.82% 100% In compliance Aa1 Aa1/Aaa In compliance In compliance Corporate Bonds 19.31% 30% In compliance* Aaa/Aa1/Aa2/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 44.57% 100% In compliance Aa1 Aa1/Aaa In compliance In compliance Supranationals 0.61% 30% In compliance Aaa AA or better In compliance In compliance Commercial Paper 1.20% 100% In compliance P-1 (Short-term)/A1/Aa1 P-1 (Short-term) In compliance In compliance Money Market-CAMP 11.19% 100% In compliance n/a n/a In compliance In compliance Money Market Fund-US Bank 0.42% 100% In compliance n/a n/a In compliance In compliance LAIF 9.09% 100% In compliance n/a n/a In compliance In compliance Cash 0.06% 100% In compliance Collateralized Collateralized In compliance In compliance 100.00%
Portfolio Value 831,765,745
7

INVESTMENTS IN ISSUERS REPRESENTING OVER 5%

OF THE POOL PORTFOLIO
March 31, 2026
Market Value % of Total
FHLB 108,431,429 13.04%
FHLMC 181,082,638 21.77%
FNMA 53,500,609 6.43%
Total Fed Agencies 367,891,997 44.23%
OTHER PORTFOLIO INVESTMENTS 463,873,748 55.77%
Total Investments 831,765,745 * 100.00%
note: * Includes Cash in Bank and Accrued Interest Receivable 8

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 Annual 1.284 0.713
2017 Annual 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 quarte
r -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
2025 1st quarter 1.610 1.324
2nd quarter 1.258 1.179
3rd quarter 1.207 1.179
4th quarter 1.137 1.126

5.212 4.808
2026 1st quarter 0.303 0.653
2nd quarter
3rd quarter
4th quarter

0.303 0.653
Yield Fiscal YTD
Pooled Portfolio YTM 3.92%
State Treasurer's LAIF yield 3.98%
2 Year Average US Treasury yield 3.61%
9

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 June 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Investment Type 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2026 2026 2026 Money Market 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Money Market Collateralized 3.97 3.54 1.59 11.73 6.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Municipal Bonds 5.80 5.78 4.33 4.72 7.70 5.96 4.25 5.34 8.10 7.22 7.40 7.52 Corporate Bonds - Coupon 17.12 15.47 20.78 22.50 16.62 13.97 11.02 11.64 12.53 15.68 17.60 19.31 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 0.00 Federal Agency Issues - Coupon 55.86 60.37 54.14 34.00 47.35 48.79 57.84 52.89 53.24 47.40 44.24 44.57 Repurchase Agreements 0.00 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. 9.07 6.47 7.29 11.66 16.47 4.00 0.19 0.18 0.17 0.17 8.31 9.09 Cash 0.44 0.43 0.45 0.34 0.53 0.31 0.06 0.03 0.17 0.16 0.33 0.06 Treasury Securities 2.99 3.26 3.71 2.37 3.66 7.46 7.11 8.68 8.58 6.78 5.32 4.82 Treasury Securities Disc 0.00 0.00 0.00 0.00 0.00 1.54 1.48 0.00 0.00 0.00 0.00 0.00 Supranationals 3.76 4.49 5.89 8.24 0.80 3.73 4.27 4.68 4.03 1.23 1.19 0.61 Bank Notes 0.00 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 0.00 Commerical Paper - Disc (Amortizing) 0.99 0.00 0.82 0.00 0.00 1.55 2.97 4.04 0.93 0.00 0.00 1.20 Money Market Fund-US Bank 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.42 0.42 0.41 0.42 Amortized Zero Cpn Bonds 0.00 0.00 0.00 0.00 0.00 0.77 0.00 0.00 0.00 0.00 0.00 0.00 Certificates of Deposit 0 0.00 0.19 1.00 0.00 0.00 0.20 0.19 0.17 0.00 0.00 1.19 1.21 Money Market-CAMP 0.00 0.00 0.00 3.89 0.12 11.72 10.61 12.36 11.83 20.93 14.00 11.19 Muni Variable Rate 0.00 0.00 0.00 0.54 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 10

II. Capital Endowment Portfolio

CITY OF PASADENA
Capital Endowment Portfolio
Vicken Erganian
City Treasurer
March 2026

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 June 9, 2025. 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 03/31/2026

TYPE MARKET VALUE PERCENT
Money Market - CAMP 1,571,414 100.00%
TOTALS: 1,571,414 100.00%
Accrued Interest Receivable 5,066
GRAND TOTAL: 1,576,480
PORTFOLIO LIQUIDITY AS OF 03/31/2026
Percent of
Aging Interval Par Value Portfolio
0-30 Days 1,571,414 100.00%
31 days - 1 Year - 0.00%
1 - 2 Years - 0.00%
2 - 3 Years - 0.00%
3 - 4 Years - 0.00%
4 - 5 Years - 0.00%
Over 5 Years - 0.00%
TOTAL: 1,571,414 100.00% -

PORTFOLIO STATISTICS
Mar-26 Feb-26 Jan-26 Dec-25 Nov-25 Oct-25
Month-End Mkt Value 1,576,480 1,571,414 1,566,814 1,561,705 1,556,476 1,551,256 Modified Duration 0.00 0.00 0.00 0.00 0.00 0.00
Weighted Average Maturity 0.00 0.00 0.00 0.00 0.00 0.00 Current Book Yield to Maturity 3.853% 3.883% 4.005% 4.005% 4.157% 4.319% Effective Yield - Year to Date 4.110% 4.150% 4.190% 4.250% 4.310% 4.360% Interest Earned 5,066 4,600 5,109 5,229 5,220 5,593 Fiscal Year To Date Interest Earned 47,803 42,737 38,137 33,029 27,799 22,579 Fair Value Change Gain/(Loss) - - - - - -
Fiscal Year To Date change in fair value - - - - - - Total Fiscal YTD earnings 47,803 42,737 38,137 33,029 27,799 22,579 MMF -
CAMP,
100.00%
11

Average
CUSIP Investment # Issuer Balance
Money Market Fund-CAMP
SYS14111 14111 California Asset Management Pr
Subtotal and Average
Total and Average
Data Updated: FUNDSNAP: 04/06/2026 19:31
Run Date: 04/06/2026 - 19:32
1,571,265.87
1,571,265.87

CAPITAL ENDOWMENT
Portfolio Management
Portfolio Details - Investments
March 31, 2026
Purchase
Date Par Value Market Value
1,571,414.27 1,571,414.27
1,571,414.27 1,571,414.27
1,571,414.27 1,571,414.27
Stated
Book Value Rate
1,571,414.27 3.800
1,571,414.27
1,571,414.27

YTM Days to Maturity
Moody's 365 Maturity Date

3.853 -------- -

3.853

3.853
Portfolio PASD
Report Ver. 7.3.11
12

COMPLIANCE REPORT
Capital Endowment Portfolio
As of 03/31/26
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 100.00% 100% In compliance n/a n/a In compliance In compliance Corporate Bond 0.00% 30% In compliance** A or better In compliance In compliance Federal Agency Issues 0.00% 100% In compliance** Aa1/Aaa In compliance In compliance 100.00%
Portfolio Value 1,576,480
**Compliance is measured based on the City's total investments which include the Pooled portfolio as well as the Power Reserve Fund. 13

INVESTMENTS IN ISSUERS REPRESENTING OVER 5%

OF THE CAPITAL ENDOWMENT PORTFOLIO
March 31, 2026
Market Value % of Total
Total - 0.00%
OTHER PORTFOLIO INVESTMENTS 1,576,480 100.00%
Total Investments 1,576,480 * 100.00%
note: * Includes Accrued Interest Receivable
14

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 4th Qtr Investment Type 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2026 2026 2026 Money Market - Collateralized 1.80 0.75 0.03 1.10 3.10 3.38 0.00 0.00 0.00 0.00 0.00 0.00 Federal Agency Issues - Coupon 0.00 0.00 0.00 0.00 0.00 96.62 95.44 94.45 0.00 0.00 0.00 0.00 Corporate Bonds - Coupon 0.00 99.25 99.97 98.90 96.90 0.00 0.00 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 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 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 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 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 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 0.00 Commerical Paper - Disc (Amortizing) 98.20 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 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 0.00 Money Market - CAMP 0.00 0.00 0.00 0.00 0.00 0.00 4.56 5.55 100.00 100.00 100.00 100.00 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 15

III. Power Fund Reserve for Working
Capital Portfolio

CITY OF PASADENA
Power Fund Reserve for
Working Capital Vicken Erganian
City Treasurer
March 2026

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 June 9, 2025. 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 03/31/2026

TYPE MARKET VALUE PERCENT
Municipal Bonds 1,985,632 4.31%
Federal Agencies 26,131,655 56.77%
L.A.I.F. 48,420 0.11%
Money Market-CAMP 17,862,070 38.81%
TOTALS: 46,027,777 100.00%
Accrued Interest Receivable 227,092
GRAND TOTAL: 46,254,869
PORTFOLIO LIQUIDITY AS OF 03/31/2026
Percent of
Aging Interval Par Value Portfolio
0 - 30 days 17,910,490 34.07%
31 days - 1 Year 2,000,000 3.80%
1 - 2 Years - 0.00%
2 - 3 Years 6,000,000 11.41%
3 - 4 Years - 0.00%
4 - 5 Years 5,000,000 9.51%
Over 5 Years 21,666,667 41.21%
TOTAL: 52,577,157 100.00%

PORTFOLIO STATISTICS
Mar-26 Feb-26 Jan-26 Dec-25 Nov-25 Oct-25
Month-End Market Value 46,254,869 46,761,038 46,030,728 45,939,555 46,016,552 45,718,990 Modified Duration 4.10 4.24 4.21 4.27 4.36 4.39
Weighted Average Maturity 5.57 5.63 5.71 5.77 5.83 5.90 Current Book Yield to Maturity 2.487% 2.495% 2.497% 2.529% 2.578% 2.630% Effective Yield - Year to Date 2.560% 2.570% 2.570% 2.590% 2.610% 2.620% Interest Earned 108,878 103,248 108,854 110,213 110,014 114,023 Fiscal Year To Date Interest Earned 997,897 889,019 785,771 676,917 566,704 456,690 Fair Value Change Gain/(Loss) (615,042) 627,063 (17,681) (187,214) 187,547 165,778 Fiscal Year To Date change in fair value 449,795 1,064,838 437,775 455,456 642,670 455,122 Total Fiscal YTD Earnings 1,447,693 1,953,857 1,223,546 1,132,373 1,209,374 911,812 Money Market-
CAMP

1.03%
Fed Agency

56.77%
LAIF

0.11%
Municipal
Bonds

4.54%
16

CUSIP Investment # Issuer
LAIF
PwrFd ReserveForWorkingCapital
Portfolio Management
Portfolio Details - Investments
March 31, 2026
Average Purchase
Balance Date Par Value Market Value
SYS6184 6184 Local Agency Investment Fund 48,420.33 48,420.33 Subtotal and Average 48,420.33
Money Market Fund-CAMP
SYS14063 14063 California Asset Management Pr
Subtotal and Average 17,858,861.29
Municipal Bonds
54465AGS5 13553 LA County Redevelopment TABs
Subtotal and Average
Federal Agency Issues • Coupon
3133EMX80 13946 Federal Farm Credit Bank
3133EMHN5 13890 Federal Farm Credit Bank
3130AJEA3 13788 Federal Home Loan Bank
3130AL3XO 13904 Federal Home Loan Bank
3133EMCV2 13875 Federal Farm Credit Bank
Subtotal and Average
Total and Average
Data Updated: FUNDSNAP: 04/27/2026 15:43
Run Date: 04/27/2026 - 15:43
1,998,520.71
32,666,667.00
52,572,469.33
48,420.33 48,420.33
17,862,069.90 17,862,069.90
17,862,069.90 17,862,069.90
08/25/2016 2,000,000.00 1,985,632.00
2,000,000.00 1,985,632.00
08/02/2021 6,000,000.00 5,644,026.00
11/25/2020 5,000,000.00 4,393,310.00
04/08/2020 1,666,667.00 1,450,958.62
02/25/2021 10,000,000.00 7,829,810.00
10/15/2020 10,000,000.00 6,813,550.00
32,666,667.00 26, 131,654.62
52,577,157.23 46,027,776.85
Stated
Book Value Rate
48,420.33 3.980
48,420.33
17,862,069.90 3.800
17,862,069.90
1,998,647.25 2.375
1,998,647.25
6,000,000.00 1.230
5,000,000.00 1.230
1,666,667.00 1.850
10,000,000.00 2.000
10,000,000.00 2.000
32,666,667.00
52,575,804.48

YTM Days to Maturity
Moody's 365 Maturity Date

3.980 ---------

3.980

3.853 ---------

3.853
Aa2 2.560 153 09/01/2026 ---------

2.560 153
Aa1 1.230 854 08/02/2028
Aa1 1.230 1,699 11/25/2030
Aa1 1.850 2, 199 04/08/2032
Aa1 2.000 3,617 02/25/2036
Aa1 2.000 5,311 10/15/2040 ---------

1.733

2.487
3,262
2,033
Portfolio PASD
17 Report Ver. 7.3.11

COMPLIANCE REPORT
Power Fund Reserve for Working Capital
As of 03/31/26
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 4.31% 100% In compliance Aa2 A or better In compliance In compliance Corporate Bonds 0.00% 30% In compliance A or better In compliance In compliance Federal Agency Issues 56.77% 100% In compliance Aa1 Aa1/Aaa In compliance In compliance Money Market-CAMP 38.81% 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 46,254,869
18

INVESTMENTS IN ISSUERS REPRESENTING OVER 5%OF THE

POWER FUND RESERVE FOR WORKING CAPITAL PORTFOLIO
March 31, 2026
Market Value % of Total
FHLB 9,280,769 20.06%
FFCB 16,850,886 36.43%
Total Fed Agencies 26,131,655 56.49%
OTHER PORTFOLIO INVESTMENTS 20,123,214 43.51%
Total Investments 46,254,869 * 100.00%
note: * Includes Accrued Interest Receivable
19

Power Fund Reserve for Working Capital - 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 Annual 2.050 -0.393
2017 Annual 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

2.276 2.500
2025 1st quarter 3.183 2.894
2nd quarter 2.049 1.05
3rd quarter 1.763 1.412
4th quarter 1.098 1.101

8.093 6.457
2026 1st quarter -0.224 0.687
2nd quarter
3rd quarter
4th quarter
-0.224 0.687
Yeld Fiscal YTD
Power Reserve YTM 2.44%
State Treasurer's LAIF yield 3.98%
2 Year Average Treasury yield 3.61%
Index changed to ICE BofA 5-7 in 2022
20

Fiscal Year Total
June June June June
June June June June June 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

POWER FUND RESERVE FOR WORKING CAPITAL
Portfolio Management
Distribution of Investments By Type - Historic (By Market Values) In %
Investment Type
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2026 2026 2026 Money Market - Collateralized 0.02 4.34 2.58 32.06 0.08 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Municipal Bonds 7.00 6.92 6.02 3.43 3.93 4.50 4.56 4.48 4.39 4.36 4.33 4.31 Federal Agency Issues - Coupon 79.82 82.96 85.12 51.22 57.67 75.33 72.13 70.30 57.69 57.48 57.20 56.77 L.A.I.F. 0.24 0.24 0.26 0.00 32.77 18.69 0.11 0.11 0.11 0.10 0.10 0.11 Corporate Bonds - Coupon 12.92 5.54 6.02 13.29 5.56 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 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 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 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 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 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 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 0.00 Money Market - CAMP 0.00 0.00 0.00 0.00 0.00 1.48 23.21 25.12 37.82 38.05 38.36 38.81 Total 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 21

IV. Miscellaneous Portfolios

Fund Coupon Yield Maturity Face Value Cost Per Book Market Value City of Pasadena-Housing Succesor Agency
Money Mkt CAMP 3.800% 3.853% 4/1/2026 $2,688,225.00 $2,688,225.00 $2,688,225.00 LAIF 3.980% 3.980% 4/1/2026 $1.68 $1.68 $1.68
Weighted Average Maturity = 1 day $2,688,226.68 $2,688,226.68 $2,688,226.68 2002 Electric Revenue Reserve Fund
Money Mkt CAMP 3.800% 3.853% 4/1/2026 $4,107,366.37 $4,107,366.37 $4,107,366.37 Weighted Average Maturity = 1 day $4,107,366.37 $4,107,366.37 $4,107,366.37 Annandale Assessment District
Municipal Bonds-Annandale Assessment 6.000% 6.000% 9/2/2040 $823,835.00 $823,835.00 $823,835.00 Weighted Average Maturity = 14.63
2012A Electric Par
ity Reserve Fund
Money Mkt CAMP 3.800% 3.853% 4/1/2026 $727,288.84 $727,288.84 $727,288.84 Weighted Average Maturity = 1 day $727,288.84 $727,288.84 $727,288.84 Miscellaneous Funds
March 31, 2026

22

Fund Coupon Yield Maturity Face Value Cost Per Book Market Value Miscellaneous Funds
March 31, 2026
2013A Electric Parity Reserve Fund
Money Mkt CAMP 3.800% 3.853% 4/1/2026 $7,024,633.67 $7,024,633.67 $7,024,633.67 Weighted Average Maturity = 1 day $7,024,633.67 $7,024,633.67 $7,024,633.67 2016A Electric Revenue Refunding Reserve
Money Mkt CAMP 3.800% 3.853% 4/1/2026 $2,816,122.65 $2,816,122.65 $2,816,122.65 Weighted Average Maturity = 1 day $2,816,122.65 $2,816,122.65 $2,816,122.65 2020A Water Refund Revenue Bonds Project
LAIF 3.980% 3.980% 4/1/2026 $5,148.66 $5,148.66 $5,148.66 Weighted Average Maturity = 1 day $5,148.66 $5,148.66 $5,148.66 2021A Water Refund Revenue Bonds Project
LAIF 3.980% 3.980% 4/1/2026 $15,938.01 $15,938.01 $15,938.01 Money Mkt CAMP 3.800% 3.853% 4/1/2026 $1,375.33 $1,375.33 $1,375.33 Weighted Average Maturity = 1 day $17,313.34 $17,313.34 $17,313.34 GRAND TOTAL: $18,209,935.21 $18,209,935.21 $18,209,935.21

23

V. Investments Held by Trustees

Schedule of Funds Held by Trustees

CITY OF PASADENA
For Period Ending 3/31/2026 Market Yield 3.55%
Maturity 04/01/26
$ Amount
Trustee/Officer Issue Name Shares/Par Cost Market Maturity % Maturity Date Investment Value Value Date Yld
Amy Green 2026A Pasadena COPS
(213)630-6204 COI-Pasadena 26A COPS Account #09029026
Lena Chan DREFUS GOVT CM INST 289 Cusip: X9USDDGCM 12,949.92 12,949.92 12,949.92 04/01/26 3.54% (213) 630-6253
Total 12,949.92 12,949.92 12,949.92
US Bank 2025 City of Pasadena GOB (Central Library Project) Ilse Vlach Good Faith Deposit- Series 2025 Account #292895100 (213) 615-6051 First American Fund Inc Treasury OF Cusip 31846V542 - - - 04/01/26 0.00% Adriana Marshall Interest Fund- Series 2025 Account #292895101 (213) 615-6033 First American Fund Inc Treasury OF Cusip 31846V542 454,162.01 454,162.01 454,162.01 04/01/26 3.56% US Treasury Notes Cusip 91282CLH2 4,875,000.00 4,854,433.59 4,874,220.00 08/31/26 4.09% US Treasury Notes Cusip 91282CMP3 1,955,000.00 1,959,047.46 1,961,392.85 02/28/27 4.00% Capital Project Fund- Series 2025 Account #292895103
First American Fund Inc Treasury OF Cusip 31846V542 20,784.10 20,784.10 20,784.10 04/01/26 3.56% Project Fund- Series 2025 Account #292895104
First American Fund Inc Treasury OF Cusip 31846V542 27,189,315.90 27,189,315.90 27,189,315.90 04/01/26 3.56% US Treasury Notes Cusip 91282CHH7 11,000,000.00 11,000,859.38 11,008,800.00 06/15/26 4.08% US Treasury Notes Cusip 91282CLP4 13,500,000.00 13,397,167.97 13,481,505.00 09/30/26 4.05% US Treasury Notes Cusip 91282CME8 16,500,000.00 16,550,273.44 16,557,915.00 12/31/26 4.01% US Treasury Notes Cusip 91282CMV0 21,500,000.00 21,447,929.69 21,528,380.00 03/31/27 4.01% US Treasury Notes Cusip 91282CEW7 15,500,000.00 15,277,792.97 15,392,275.00 06/30/27 3.96% FHLB Cusip 3130B6J31 10,000,000.00 10,000,000.00 10,001,200.00 08/20/27 4.27% US Treasury Notes Cusip 91282CLL3 14,000,000.00 13,818,984.38 13,908,720.00 09/15/27 3.96% US Treasury Notes Cusip 91282CGC9 20,000,000.00 19,967,968.75 20,014,000.00 12/31/27 3.94% US Treasury Notes Cusip 91282CGT2 17,000,000.00 16,856,562.50 16,938,290.00 03/31/27 3.94% FHLB Cusip 313B5EY8 10,000,000.00 10,000,000.00 9,990,500.00 05/22/28 4.40% US Treasury Notes Cusip 91282CCH2 6,000,000.00 5,527,500.00 5,670,960.00 06/30/28 3.97% US Treasury Notes Cusip 91282CCY5 11,700,000.00 10,704,585.94 10,987,938.00 09/30/28 3.98% US Treasury Notes Cusip 91282CJR3 8,700,000.00 8,630,671.88 8,682,687.00 12/31/28 3.99% COI- Series 2025 Account #292895105
First American Fund Inc Treasury OF Cusip 31846V542 - - - 04/01/26 4.20% Total 209,894,262.01 207,658,039.96 208,663,044.86 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 Fidelity Govt Protfolio CI Cusp:316175108 109.31 109.31 109.31 04/01/26 3.52% COI Fund- Series 2024A Account #2900083002
Cash - - - 04/01/26 0.00%
Total 109.31 109.31 109.31

24

Schedule of Funds Held by Trustees

CITY OF PASADENA
For Period Ending 3/31/2026 Market Yield 3.55%
Maturity 04/01/26
$ Amount
Trustee/Officer Issue Name Shares/Par Cost Market Maturity % Maturity Date Investment Value Value Date Yld
Amy Green 2024A Electric Revenue Refunding Bonds
(213)630-6204 Bond Fund-2024A Account #00016123
Lena Chan DREFUS GOVT CM INST 289 Cusip: X9USDDGCM 2.44 2.44 2.44 04/01/26 3.28% (213) 630-6253
Total 2.44 2.44 2.44
BNY 2021A Water Revenue Refunding Bonds
Amy Green COI-2021A Account #209092
(213)630-6204 Cash - - - 04/01/26 0.00%
Lena Chan Debt Service-2021A Account #209093
(213) 630-6253 Cash - - - 04/01/26 0.00%
Reserve-2021A Account #209094
DREFUS GOVT CM INST 289 Cusip: X9USDDGCM 932,541.39 932,541.39 932,541.39 04/01/26 3.54% Cash - - - 04/01/26 0.00%
Total 932,541.39 932,541.39 932,541.39
BNY 2020A Water Revenue Refunding Bonds
Amy Green COI-2020 Account #746583
(213)630-6204 Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS - - - 04/01/26 3.55% Lena Chan DEBT SERVICE-2020 Account #746585
(213) 630-6253 Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS - - - 04/01/26 3.55% Total - - -
2020AB POB Bonds
BNY POB COI-2020B Account #220413
Amy Green BlackRock Treasury Turst Dollars 63 Cusip: X9USDBTRD - - - 04/01/26 3.92% (213)630-6204 POB Bond Fund-2020B Account #220414
Lena Chan Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 260.81 260.81 260.81 04/01/26 3.55% (213) 630-6253 POB Bond Fund-2020B Account #220415
Blackrock Tresus Trust Dollar 11 Cusip: X9USDBTRO 174.67 174.67 174.67 04/01/26 3.31% POB Principal-2020B Account #220416
Blackrock Tresus Trust Dollar 11 Cusip: X9USDBTRO 349.97 349.97 349.97 04/01/26 3.31% POB Principal-2020A Account #765997
Blackrock Tresus Trust Dollar 11 Cusip: X9USDBTRO 349.97 349.97 349.97 04/01/26 3.31% POB Bond Fund-2020A Account #765990
Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 572.24 572.24 572.24 04/01/26 3.55% POB Bond Fund-2020A Account #765996
Blackrock Tresus Trust Dollar 11 Cusip: X9USDBTRO 382.99 382.99 382.99 04/01/26 3.31% Total 2,090.65 2,090.65 2,090.65

25

Schedule of Funds Held by Trustees

CITY OF PASADENA
For Period Ending 3/31/2026 Market Yield 3.55%
Maturity 04/01/26
$ Amount
Trustee/Officer Issue Name Shares/Par Cost Market Maturity % Maturity Date Investment Value Value Date Yld
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 1,363.55 1,363.55 1,363.55 04/01/26 3.52% Adriana Marshall Costs of Issuance- Series 2018A Account #248882002 (213) 615-6033 Fidelity Govt Protfolio CI Cusp:316175108 - - - 04/01/26 3.52% Interest Fund- Series 2018B Account #248882100
Fidelity Govt Protfolio CI Cusp:316175108 131.45 131.45 131.45 04/01/26 3.52% Principal Fund- Series 2018B Account #248882101
Fidelity Govt Protfolio CI Cusp:316175108 1,536.07 1,536.07 1,536.07 04/01/26 3.52% Costs of Issuance- Series 2018B Account #248882102
Fidelity Govt Obl Fd Cl D 316175108 - - - 04/01/26 3.52% Total 3,031.07 3,031.07 3,031.07
2017A Water Revenue Bonds
BNY Debt Service-2017A Account #948165
Amy Green Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS - - - 04/01/26 3.55% (213)630-6204 Reserve Fund-2017A Account #948269
Lena Chan Federal Home Loan Banks Cusip: 3130AL3S18 - - - 02/17/26 0.63% (213) 630-6253 DREYFUS CUSIP:X9USSGCM 1,110,904.18 1,110,904.18 1,110,904.18 04/01/26 3.54% Total 1,110,904.18 1,110,904.18 1,110,904.18
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 215,932.79 215,932.79 215,932.79 04/01/26 3.52% Principal Fund- Series 2016A Account #264433001
Fidelity Govt Protfolio CI Cusp:316175108 5,136,193.00 5,136,193.00 5,136,193.00 04/01/26 3.52% 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 04/01/26 3.52% Cost of Issuance- Series 2016A Account #264433003
First American Govt Obl Fd Cl D 31846V401 - - - 04/01/26 3.52% Total 5,352,125.98 5,352,125.98 5,352,125.98
BNY Pasadena Water Revenue 2010AB
Amy Green 2010 A Parity Reserve Account #286245
(213)630-6204 DREYFUS CUSIP:X9USSGCM 1,401,668.12 1,401,668.12 1,401,668.12 04/01/26 3.54% Lena Chan Federal Home Loan Bank CUSIP:3130AL3S1 - - - 02/17/26 0.63% (213) 630-6253 Cash - - - 04/01/26 0.00%
2010 B Parity Reserve Account #286248
DREYFUS CUSIP:X9USSGCM 314,093.73 314,093.73 314,093.73 04/01/26 3.54% Federal Home Loan Bank CUSIP:3130AL3S1 - - - 02/17/26 0.63% Cash - - - 04/01/26 0.00%
Total 1,715,761.85 1,715,761.85 1,715,761.85

26

Schedule of Funds Held by Trustees

CITY OF PASADENA
For Period Ending 3/31/2026 Market Yield 3.55%
Maturity 04/01/26
$ Amount
Trustee/Officer Issue Name Shares/Par Cost Market Maturity % Maturity Date Investment Value Value Date Yld
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 360,610.89 360,610.89 360,610.89 04/01/26 3.52% Lindsey K Tonsfeldt Cash - - - 04/01/26 0.00%
(651) 466-5114 Principal Fund (S631592)
[email protected] Fidelity Instl Mm Fds Government I CUSIP:316175108 3.63 3.63 3.63 04/01/26 3.52% Bond Reserve Fund (S631593)
Federal Home Loan Bank Funds CUSIP: 3130ALBD5 - - - 02/25/41 2.15% Fidelity Instl Mm Fds Government I CUSIP:316175108 331,109.23 331,109.23 331,109.23 04/01/26 3.52% Cash - - - 04/01/26 0.00%
Total 691,723.75 691,723.75 691,723.75
Computershare Corporate Trust PPFA (Paseo Colorado Parking Facilities) 2008 Tracy Mason Bond Fund Account #23200100
(213) 253-7536 Allspring Government Money Market Service 55,548.70 55,548.70 55,548.70 04/01/26 3.24% (667)786-1241 Cash - - - 04/01/26 0.00%
Reserve Fund Account #23200101
teresalynn.mason1@computershFHLB Cusip: 3130APVC6 2,000,000.00 2,000,000.00 1,967,920.00 12/01/26 1.38% Kushina White Well Fargo Advantage Government Money Market Service - - - 04/01/26 0.01% (682)352-3476 Cost of Issuance Fund Account #23200103
(667)786-1241 Well Fargo Advantage Government Money Market Service - - - 04/01/26 0.00% kushina.white3@computershare Total 2,055,548.70 2,055,548.70 2,023,468.70 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 4,353,772.50 12/23/30 1.25% Lena Chan Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 269,991.21 269,991.21 269,991.21 04/01/26 3.55% (213) 630-6253 Cash - - - 04/01/26 0.00%
Total 5,219,991.21 5,219,991.21 4,623,763.71
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 1,165,403.75 12/23/30 1.25% (213)630-6204 Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 72,270.45 72,270.45 72,270.45 04/01/26 3.55% Lena Chan Cash Balance - - -
(213) 630-6253 Total 1,397,270.45 1,397,270.45 1,237,674.20

27

Schedule of Funds Held by Trustees

CITY OF PASADENA
For Period Ending 3/31/2026 Market Yield 3.55%
Maturity 04/01/26
$ Amount
Trustee/Officer Issue Name Shares/Par Cost Market Maturity % Maturity Date Investment Value Value Date Yld
BNY Pasadena 2008A COPS
Amy Green Base Rental Fund #281732
(213)630-6204 Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 293,745.58 293,745.58 293,745.58 04/01/26 3.55% Lena Chan Cash Balance - - - 0.00%
(213) 630-6253 Interest Fund #281733
Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 62.12 62.12 62.12 04/01/26 3.55% 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 14.06 14.06 14.06 04/01/26 3.55% Total 293,822.76 293,822.76 293,822.76
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 7,598,988.00 06/29/40 2.07% Lena Chan Federal Home Loan Banks CUSIP:3130AKKQ8 270,000.00 270,000.00 237,478.50 12/23/30 1.25% (213) 630-6253 Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 989,606.46 989,606.46 989,606.46 04/01/26 3.55% Cash Balance - - - 01/00/00 0.00%
Total 12,059,606.46 12,059,606.46 8,826,072.96 BNY Pasadena Water Revenue 2003
Amy Green Parity Reserve Account #281651
(213)630-6204 Federal Home Loan Banks CUSIP: 3130AL3S1 - - - 02/17/26 0.63% Lena Chan DREYFUS GOVT CM INST 289 CUSIP: X9USDDGCM 1,044,632.88 1,044,632.88 1,044,632.88 04/01/26 3.54% (213) 630-6253 Cash - - - 04/01/26 0.00%
Total 1,044,632.88 1,044,632.88 1,044,632.88
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 1,781,088.75 12/23/30 1.25% Lena Chan Goldman Fincl Sq Govt Instl 465 CUSIP:X9USDGLDS 110,452.73 110,452.73 110,452.73 04/01/26 3.55% (213) 630-6253 Cash - - - 04/01/26 0.00%
(In aggegrate with 2006A, Total Funds 2,135,452.73 2,135,452.73 1,891,541.48 and 2008ABC COP reserve)
SCPPA SCPPA Investments
Atif Haji Datoo SCPPA Project Stabilization Fund
(213) 367-4668 Fidelity Inst MMKT GOVT 57CUSIP:X9USDFIN 465,538.12 465,538.12 465,538.12 04/01/26 3.54% Fidelity Inst MMKT GOVT 57CUSIP:X9USDFIN 1,090,337.27 1,090,337.27 1,090,337.27 04/01/26 3.54% US Bancorp Cusip 91159XBZ7 3,000,000.00 3,000,000.00 2,996,490.00 04/29/30 5.20% Federal Home Loan Mortgage Corp CUSIP: 3134HCJR1 1,000,000.00 999,250.00 991,330.00 06/18/30 4.00% Federal Agricultural Mortgage Corp CUSIP:31428JAN7 1,000,000.00 1,000,000.00 991,790.00 02/03/31 3.98% Total 6,555,875.39 6,555,125.39 6,535,485.39
TOTAL FUND BALANCE 250,477,703.13$ 248,240,731.08$ 244,960,747.48$

28

VI. PARS Section 115 Trust

City of Pasadena
PARS Section 115 Trust
For the Month Ended March 31, 2026
Pension Account 6746056200
Mayket Value Book Value
Beginning Balance 8,207,085.47 7,699,944.99
Activity
Contributions 0.00 0.00
Disbursements 0.00 0.00
Total 0.00 0.00
Net Investment Income
Dividends 29,676.14 29,676.14
Interest 693.52 693.52
Other Income 0.00 0.00
Change in Accrued Income 97.46 97.46
Total Investment Income 30,467.12 30,467.12
Net Change in Unrealized Gain/Loss (276,151.76) 0.00
Free Receipts and Free Deliveries Net 0.01 0.00
Realized Gain/Loss 0.00 0.00
Total Mayket Value Adjustment (276,151.75) 0.00
Trust Fees (1,939.44) (1,939.44)
PARS Fee (Net of Depository Earnings) (1,675.62) (1,675.62) Unreconciled Difference 0.00 0.00
Total (3,615.06) (3,615.06)
Ending Balance 7,957,785.78 7,726,797.05
1 Year Inception To Date
Investment Return (Inception-To-Date as of 03/31/2026) 8.56% 4.88% BenchMark Return (PARS Moderately Conservative) 8.78% 4.99% Asset Allocation
Market Value Percentage
Cash and Equivalents 270,960.20 3.40%
Equity 2,447,823.22 30.76%
Fixed Income 5,238,211.35 65.82%
Accrued Income 790.98 0.01%
Total 7,957,785.75 100.00%
Account Manager:

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

3.40%
Equity

30.76%
Fixed Income

65.82%
Accrued Income

0.01%
29

City of Pasadena
PARS Section 115 Trust
For the Month Ended March 31, 2026
Post Employments Benefits Trust 6746056201
Mayket Value Book Value
Beginning Balance 2,903,906.36 2,724,732.42
Activity
Contributions 0.00 0.00
Disbursements 0.00 0.00
Total 0.00 0.00
Net Investment Income
Dividends 10,525.94 10,525.94
Interest 218.24 218.24
Other Income 0.00 0.00
Change in Accrued Income 19.12 19.12
Total Investment Income 10,763.30 10,763.30
Net Change in Unrealized Gain/Loss, Fee Receipts & Deliveries Net (99,150.60) 0.00 Free Receipts and Free Deliveries Net 0.00 0.00
Realized Gain/Loss 0.00 0.00
Total Mayket Value Adjustment (99,150.60) 0.00
Trust Fees (689.37) (689.37)
PARS Fee (Net of Depository Earnings) (592.88) (592.88) Unreconciled Difference 0.00 0.00
Total (1,282.25) (1,282.25)
Ending Balance 2,814,236.81 2,734,213.47
1 Year Inception To Date
Investment Return (Inception-To-Date as of 03/31/2026) 8.54% 4.97% BenchMark Return (PARS Moderately Conservative) 8.78% 5.04% Asset Allocation
Marrket Value Percentage
Cash and Equivalents 80,741.65 2.87%
Equity 892,337.04 31.71%
Fixed Income 1,840,920.76 65.41%
Accrued Income 237.36 0.01%
Total 2,814,236.81 100.00%
Account Manager:

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

2.87%
Equity

31.71%
Fixed Income

65.41%
Accrued Income

0.01%
30

FINANCE DEPARTMENT
Quarterly Investment Report
Quarter Ending March 31, 2026
Vic Erganian
Deputy Finance Director/City Treasurer
June 22, 2026
Finance Committee and City Council
Item 4 (Finance Committee); Item xx (City Council)

FINANCE DEPARTMENT
Gross Domestic Product
2

FINANCE DEPARTMENT
Inflation
3

FINANCE DEPARTMENT
LA-Anaheim-Riverside CPI Index
• According to the Bureau of Labor Statistics
the “Los Angeles area all i
tems CPI-U
increased 3.6 percent for the 12 months
ending in May. The index for all items less
food and energy advanced 2.5 percent
over the year. Food prices rose 3.5
percent. Energy prices advanced 18.0
percent”.
4

FINANCE DEPARTMENT
LA-Long Beach-Anaheim CPI Index
5

FINANCE DEPARTMENT
Unemployment
6

FINANCE DEPARTMENT
Unemployment Rate
Unemployment Rate as of April 2026
• US National rate 4.3%
• State of California 5.3%
• Los Angeles County 5.2%
• Pasadena 4.7%
7

FINANCE DEPARTMENT
Effective Fed Funds Rate
8

FINANCE DEPARTMENT
Implied Overnight Rates
9

FINANCE DEPARTMENT
Treasury Rates 06/15/25 vs 06/15/2026
10 8 7

FINANCE DEPARTMENT
The Stock Market
119
8

FINANCE DEPARTMENT
12 Total Funds Under Management
Total Funds Under Management as of 03/31/2026 (Market Values):

Pooled Portfolio $831,765,745
Capital Endowment 1,576,480
Power Fund Reserve For Working Capital 46,254,869
Special Funds 18,209,935
Investments held with Fiscal Agents 244,960,747
PARS Section 115 Trust 10,772, 023
Total Funds Under Management $1,153,539,779

FINANCE DEPARTMENT
As of March 31, 2026
13 Pooled Portfolio Structure
MMF-Collateral

0.00%
Certificates of Deposit

1.21%
Muni

7.52%
Corp Bond

19.31%
Fed Agency

44.57%
US Treasury

4.82%
Supranationals

0.61%
Commercial Paper

1.20%
Money Market-CAMP

11.19%
Money Market Fund-US Bank

0.42% LAIF

9.09% Cash in
Bank

0.06%

FINANCE DEPARTMENT
• CAMP AAA
• Municipal Bonds Aaa/Aa1/Aa2/Aa3/A1/A2
• Federal Agencies Aa1
• Corporate Bonds Aaa/Aa2/Aa3/A1/A2/A3
• US Treasuries Aa1 (Moody’s) AA+ (S&P/Fitch)
• Supranationals Aaa
• LAIF In Trust (Not rated)
14 Pooled Portfolio Credit Quality

FINANCE DEPARTMENT
Pooled Portfolio Liquidity as of
03/31/2026
15 Percent of
Aging Interval Par Value Portfolio
0-30 Days 178,376,144 21.44%
31 days - 1 Year 83,933,000 10.09%
1 - 2 Years 52,350,000 6.29%
2 - 3 Years 95,800,000 11.51%
3 - 4 Years 64,390,000 7.74%
4 - 5 Years 331,670,000 42.66%
Over 5 Years 2,281,924 0.27%
TOTAL: $ 844,177,436 100.00%

FINANCE DEPARTMENT
16 • Apple Inc Aaa
• Johnson & Johnson Aaa
• Trustees Princeton U Aaa
• New York Life Gl Aa1
• Wells Fargo Bank Aa2
• Credit Suisse NY Aa2
• JP Morgan Aa2
• Met Life Global Aa3
• Eli Lilly & Co Aa3
• Merck & Co Inc Aa3
• RBC A1
• Bank of America A1
• Toyota A1
• Mutual of Omaha A1
• Cisco Systems A1
• Amazon.com Inc A1
• Goldman Sachs A1
• Bristol Myer A2
• US Bancorp A3
Corporate Credit Quality

FINANCE DEPARTMENT
Taxable Munis
• Santa Clara Vly Wtr Dist Aa1
• Anaheim Ca Union Sch Dist Aa1
• City of Corona Revenue Bonds AA+
• San Jose redevelopment Agency AA+
• University of CA Revenue Aa2
• Fremont Unifie
d Sch Dist Aa2
• City of Los Angeles Aa2
• California State Health Facs Fing Aa2
• STATE OF CALIFORNIA GO BONDS Aa2
• Los Angeles USD Aa2
• City Of Oaklan
d Aa2
• California ST Public Works Aa3
17

FINANCE DEPARTMENT
Compliance
18 Pooled Investment Portfolio
As of 03/31/2026
Diversification Credit Quality Maturity
Portfolio State Gov't Portfolio Credit Quality Portfolio % of total Code limits 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 1.21% 30% In compliance n/a n/a In compliance In compliance Municipal Bonds 7.52% 100% In compliance
Aaa/Aa3/Aa2/Aa1/A2/AA+/AA-
/AAA/AA A or better In compliance In compliance
US Treasury Securities 4.82% 100% In compliance Aa1 AA+/Aa1 In compliance In compliance Corporate Bonds 19.31% 30% In compliance* Aaa/Aa2/Aa3/A1/A2/A3 A or better In compliance In compliance Federal Agency Issues 44.57% 100% In compliance Aa1 AA+/Aa1 In compliance In compliance Supranationals 0.61% 30% In compliance Aaa AA or better In compliance In compliance Commercial Paper 1.20% 100% In compliance P-1 (Short-term)/A1/Aa1 P-1 (Short-term) In compliance In compliance Money Market-CAMP 11.19% 100% In compliance n/a n/a In compliance In compliance Money Market Fund-Us Bank 0.42% 100% In compliance Aaa AA+/Aaa In compliance In compliance LAIF 9.09% 100% In compliance n/a n/a In compliance In compliance Cash 0.06% 100% In compliance Collateralized Collateralized In compliance In compliance 100.00%
Portfolio Value 831,765,745

FINANCE DEPARTMENT
Pooled Portfolio Yield
19 0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

4.00%

4.50%

FINANCE DEPARTMENT
20 Conclusion
• All investments are in compliance with the State
Government Code an
d the City’s investment
policy.
• Ample liquidity is maintained to meet budgeted
expenditures.
• Adequate returns vs. portfolio risk.

FINANCE DEPARTMENT
New regulations subsequent to
the banking crisis in 2008
• Dramatically increased capital buffers:

Under the Global Bas
il III Accord, banks were
forced to hold significantly more high-quality
capital to absorb losses on bad loans before
risking insolvency.
21

FINANCE DEPARTMENT
New regulations subsequent to the
banking crisis in 2008
• New Liquidity Protections:

Regulators mandated that b
anks maintain a
large stockpile of cash and easily sellable ,
high quality assets to survive a sudden 30-
day funding freeze or cash crunch.
22

FINANCE DEPARTMENT
New regulations subsequent to the
banking crisis in 2008
• Banned Proprietary trading:

Through the Volcker Ru
le in the US,
commercial banks were strictly prohibited
from using depositors’ insured money to
make risky, speculative investments for their
own profit.
23

FINANCE DEPARTMENT
New regulations subsequent to the
banking crisis in 2008
• Mandatory Annual Stress Test
Large financial institut
ions must pass regular,
rigorous simulations to prove they have the
financial strength to weather extreme
economic disasters, such as spiking
unemployment or a housing market
collapse.
24

FINANCE DEPARTMENT
New regulations subsequent to the
banking crisis in 2008
• “Living Wills” for Too-Big-To-Fail Banks:

The largest global
banks faced extra capital
surcharges and were required to submit
detailed, pre-planned blueprints mapping
out how they could be safely dismantled in
bankruptcy without requiring a taxpayer
bailout.
25

NEW BUSINESS
ITEM 5

5. REVENUE OPPORTUNITIES

Office of the City Manager
Revenue Opportunities
June 22, 2026
Finance Committee
Item 5

Local Funding Options – Tax
Local Tax Opportunities Estimated Annual Revenue
Use Tax (0.25%) $11M
Parcel Tax $20M+
Benefit Districts $1M to $20M
(requires assessment study)
Business Tax $1M to $20M
Retail Vacancy Tax $1M to $5M
Real Property Transfer Tax $1M to $4M
Parking Tax $1M to $5M
2

Local Funding Options – Tax
• Use Tax like Measure I – gener al or special tax
> Current capacity of quarter-cent - $ 11m annually
> Capacity depends on County measure and AB 1768
• Parcel Tax – special tax
> Could fund priorities around Fire and/or Streets
> Can be assessed on a variety of factors: parcel size, parcel u
se type, developed square footage, etc.
• Benefit Assessment district – special tax
> Likely Fire specific
> Could be a district of all or part of the City
> Requires a benefit assessment study
3

Local Funding Options – Tax
• Business Tax
> Shift to a model based on gross receipts rather than
employee c
ount or square footage
• Retail Vacancy Tax
> EdTech to discuss potential opportunities.
> Ideally would focus on long-term v acant
properties/locations
4

Local Funding Options – Tax
• Real Property Transfer Tax – likely a spe cial tax
> Tax on real estate sales transactions
> Prohibit or cap local transfer tax.
> Revenue can be volatile based on economic climate
• Parking Tax – general or special tax
> Similar to TOT in terms of percentage tax charged on
parking rat
es
> Generally, applies to all paid parking
> Limited revenue growth over time
5

Considerations for Tax
• November 2026 Election
> Would need to place an item by early August
> Prohibit or cap local transfer tax.
• Fiscal Emergency
> Can conduct a stand-alone election
• Benefit Districts
> Could follow various timelines not tied to a general
election
6

Local Funding Options – Non-Tax
Local Non-Tax Opportunities Estimated Annual Revenue
Payment In Lieu of Taxes (PILOT) Negotiated through DA
Development Impact Fee Varies on infrastructure identified and pace of development
Electronic Billboards along Freeways $250,000 per billboard Paid Parking in the Arroyo $400,000 to $1.2M
7

Local Funding Options – Non-Tax
• Payment In Lieu of Taxes (PILOT)
> Typically done for tax-exempt develop ments through
a Developer Disposition Agreement (DDA)
• Development Impact Fee
> Public Safety: facilities, equipment, technology to
meet demands c
reated by residential and
commercial growth.
8

Local Funding Options – Non-Tax
• Electronic Billboards along Freeways
> Estimate of minimum $250k annual revenue per site
• Paid Parking in the Arroyo
> Could focus on certain areas/lots.
> Importance of not pushing cars into neighborhoods
and considerat
ion of existing uses (RBAC & Kidspace)
> Could offer residential permits
9

Full Cost Recovery
• In progress:
> Video UUT on Over-the-Top (OT T) streaming services
> Fire inspection and planning fees. – Bldg & Gener al
Fund
> Off street parking – Parking Fund
> PRCS programs and field usage – General Fund
> Mer
chant Fees – Various Funds
> Mandated Cost Recovery
10

Full Cost Recovery
• Planned:
> Planning & Construction related fees – Building and
General Fund
> Animal Licensing – Pasadena Humane
> PW
Infrastructure/Street fees – General Fund
> PR
CS cost of service study – General Fund
11