If to City: If to Consultant:
Steve Carmona, City Manager
City of Pico Rivera
PO Box 1016
6615 Passons Blvd.
Pico Rivera, California 90660-1016
Facsimile: (562) 801-4371
Mike Blockstein, Co-Principal
Reanne Estrada, Co-Principal and
Creative Director
Public Matters
1439 Elevado St.
Los Angeles, CA 90026
With a courtesy copy to:
Arnold M. Alvarez-Glasman, City Attorney
13181 Crossroads Parkway North
Suite 400 - West Tower
City of Industry, CA 91746
Facsimile: (562) 692-2244
21. SURVIVING COVENANTS
The Parties agree that the covenants contained in Sections 13, 15 and Paragraph
17.2 of Section 17, of this Agreement shall survive the expiration or termination of this Agreement.
22. TERMINATION
22.1. City shall have the right to terminate this Agreement for any reason on five (5) calendar days’ written notice to Consultant. Consultant shall have the right to terminate this Agreement for any reason on sixty (60) calendar days’ written notice to City. The effective date of termination shall be upon the date specified in the notice of termination. Consultant agrees that in the event of such termination, City’s obligation to pay Consultant shall be limited to payment only for those services satisfactorily rendered, as solely determined by the City, prior to the effective date of termination. Consultant agrees to cease all work under this Agreement on or before the effective date of any notice of termination. All City data, documents, objects, materials or other tangible things shall be returned to City upon the termination or expiration of this Agreement.
22.2 If City terminates this Agreement due to no fault or failure of performance by Consultant, then Consultant shall be paid based on the work satisfactorily performed, as solely determined by the City, at the time of termination. In no event shall Consultant be entitled to receive more than the amount that would be paid to Consultant for the full performance of the services required by this Agreement.
23. ASSIGNMENT
Professional Services Agreement
PUBLIC MATTERS
Consultant shall not delegate, transfer, subcontract or assign its duties or rights hereunder, either in whole or in part, without City’s prior written consent, and any attempt to do so shall be void and of no effect. City shall not be obligated or liable under this Agreement to any Party other than Consultant.
24. NON-DISCRIMINATION AND EQUAL EMPLOYMENT OPPORTUNITY
24.1 In the performance of this Agreement, Consultant shall not discriminate against any employee, subconsultant, or employment applicant because of race, color, creed, religion, sex, marital status, national origin, ancestry, age, physical or mental handicap, medical condition or sexual orientation. Consultant will take affirmative action to ensure that subconsultants, employees, and employment applicants are treated without regard to their race, color, creed, religion, sex, marital status, national origin, ancestry, age, physical or mental handicap, medical condition or sexual orientation.
24.2 Consultant will, in all solicitations or advertisements for employees placed by or on behalf of Consultant state either that it is an equal opportunity employer or that all qualified applicants will receive consideration for employment without regard to race, color, creed, religion, sex, marital status, national origin, ancestry, age, physical or mental handicap, medical condition or sexual orientation.
24.3 Consultant will cause the foregoing provisions to be inserted in all subcontracts for any work covered by this Agreement except contracts or subcontracts for standard commercial supplies or raw materials.
25. WARRANTIES
25.1 Each Party has received independent legal advice from its attorneys with respect to the advisability of entering into and executing this Agreement, or been provided with an opportunity to receive independent legal advice and has freely and voluntarily waived and relinquished the right to do so. Each Party who has not obtained independent counsel acknowledges that the failure to have independent legal counsel will not excuse such Party’s failure to perform under this Agreement.
25.2 In executing this Agreement, each Party has carefully read this Agreement, knows the contents thereof, and has relied solely on the statements expressly set forth herein and has placed no reliance whatsoever on any statement, representation, or promise of any other party, or any other person or entity, not expressly set forth herein, nor upon the failure of any other party or any other person or entity to make any statement, representation or disclosure of any matter whatsoever.
25.3 It is agreed that each Party has the full right and authority to enter into this Agreement, and that the person executing this Agreement on behalf of either Party has Professional Services Agreement
PUBLIC MATTERS
the full right and authority to fully commit and bind such Party to the provisions of this Agreement.
26. CAPTIONS
26.1 The captions appearing at the commencement of the sections hereof, and in any paragraph thereof, are descriptive only and for convenience in reference to this Agreement. Should there be any conflict between such heading, and the section or paragraph thereof at the head of which it appears, the section or paragraph thereof, as the case may be, and not such heading, shall control and govern in the construction of this Agreement.
26.2 Masculine or feminine pronouns shall be substituted for the neuter form and vice versa, and the plural shall be substituted for the singular form and vice versa, in any place or places herein in which the context requires such substitution(s).
27. NON-WAIVER
27.1 The waiver by City or Consultant of any breach of any term, covenant or condition herein contained shall not be deemed to be a waiver of such term, covenant or condition or of any subsequent breach of the same or any other term, covenant or condition herein contained. In no event shall the making by City of any payment to Consultant constitute or be construed as a waiver by City of any breach of covenant, or any default which may then exist on the part of Consultant, and the making of any such payment by City shall in no way impair or prejudice any right or remedy available to City with regard to such breach or default. No term, covenant or condition of this Agreement shall be deemed to have been waived by City or Consultant unless in writing.
27.2 Each right, power and remedy provided for herein or now or hereafter existing at law, in equity, by statute, or otherwise shall be cumulative and shall be in addition to every other right, power, or remedy provided for herein or now or hereafter existing at law, in equity, by statute, or otherwise. The exercise, the commencement of the exercise, or the forbearance of the exercise by any Party of any one or more of such rights, powers or remedies shall not preclude the simultaneous or later exercise by such Party of any of all of such other rights, powers or remedies.
27.3 Consultant shall not be liable for any failure to perform if Consultant presents acceptable evidence, in City’s sole judgment, that such failure was due to causes beyond the control and without the fault or negligence of Consultant.
28. COURT COSTS AND ATTORNEY FEES
In the event legal action shall be necessary to enforce any term, covenant or condition herein contained, the Party prevailing in such action, whether reduced to Professional Services Agreement
PUBLIC MATTERS
judgment or not, shall be entitled to its reasonable court costs, including accountants’ fees and expert witness fees, if any, and attorneys’ fees expended in such action. The venue for any litigation shall be Los Angeles County, California.
29. SEVERABILITY
If any term or provision of this Agreement or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, then such term or provision shall be amended to, and solely to, the extent necessary to cure such invalidity or unenforceability, and in its amended form shall be enforceable. In such event, the remainder of this Agreement, or the application of such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of this Agreement shall be valid and be enforced to the fullest extent permitted by law.
30. GOVERNING LAW
This Agreement shall be governed and construed in accordance with the laws of the State of California.
31. COUNTERPARTS
This Agreement may be signed in any one or more counterparts all of which taken together shall be but one and the same Agreement. Any signed copy of this Agreement or of any other document or agreement referred to herein, or copy or counterpart thereof, delivered by facsimile or email transmission, shall for all purposes be treated as if it were delivered containing an original manual signature of the Party whose signature appears in the facsimile or email and shall be binding upon such Party in the same manner as though an originally signed copy had been delivered.
32. ENTIRE AGREEMENT
All documents referenced as exhibits in this Agreement are hereby incorporated in this Agreement. In the event of any material discrepancy between the express provisions of this Agreement and the provisions of any document incorporated herein by reference, the provisions of this Agreement shall prevail. This instrument contains the entire Agreement between City and Consultant with respect to the transactions contemplated herein. No other prior oral or written agreements are binding upon the Parties.
Amendments hereto or deviations herefrom shall be effective and binding only if made in writing and executed by City and Consultant.
[Signatures on the following page]
Professional Services Agreement
PUBLIC MATTERS
TO EFFECTUATE THIS AGREEMENT, the Parties have caused their duly authorized representatives to execute this Agreement on the dates set forth below. “CITY” “CONSULTANT”
CITY OF PICO RIVERA PUBLIC MATTERS
______________________________ ___________________________________ Steve Carmona, City Manager Mike Blockstein, Co-Principal Dated: ________________________ Dated: _____________________________ ___________________________________
Reanne Estrada, Co-Principal & Creative Director
Dated: _____________________________
ATTEST: APPROVED AS TO FORM:
___________________________ ___________________________________ Cynthia Ayala, City Clerk Arnold M. Alvarez-Glasman, City Attorney Professional Services Agreement
PUBLIC MATTERS
EXHIBIT A
SCOPE OF SERVICES
January 22, 2026
Pico Rivera Celebration Hub Scope of Work - REVISED
Public Matters will work with the City of Pico Rivera, Day One, and CicLAvia to welcome the world to Pico Rivera during the 2026 FIFA World Cup. The Pico Rivera Celebration Hub will:
• celebrate soccer culture
• host watch parties
• promote walking, biking and multimodal active transportation for all ages and abilities • uplift local businesses
• spotlight Pico Rivera’s unique character and local flavor through memorable, immersive arts/culture/play engagement.
Public Matters // Focus: Activations/Installations at 3 Sites To spark broader awareness and excitement about Pico Rivera’s 2035 Strategic Vision, Public Matters will conceptualize, develop, and implement three activations/installations for Open Streets on Whittier Blvd (1.13 miles between Paramount Blvd and the San Gabriel River) on Sunday, June 28, 2026.
Public Matters will produce large-scale, high-visibility on-site art installations that will capture the attention of locals and visitors, invite them to imagine each site’s future, and connect to more information provided by The City of Pico Rivera about planned infrastructure developments.
All three installations will share a common theme and aesthetic. The activations/installations will connect neighbors with neighbors, strengthening community ties and boosting Pico Rivera pride, and will entice visitors to experience what makes the City and its people so special. For locals and visitors alike, they will highlight Pico Rivera now and share what’s planned for its bright future.
At the City’s discretion, some or all of the installations may remain in place after the Open Streets event to continue providing passersby with ways to connect with the City’s vision for the respective sites.
Proposed sites:
• Site 1: El Mercado Park (Whittier Blvd and Paramount Blvd) - A Lot of Potential Here will mark the future site of an ambitious, multi-use economic development incubator and recreational resource. Public Matters will create a participatory installation that helps visitors visualize how the Park could be developed to emphasize food, culture, and clean mobility. Given its location at the western edge of the Open Streets route, this installation can complement other planned activities such as a FIFA World Cup Watch Party or a Food Truck Hub that may hint at potential uses for the site. • Site 2: Native History Park (Whittier Blvd and Paramount Blvd) - Imagine is an activation that will call attention to Pico Rivera’s efforts to expand greenspace, acknowledge the land’s indigenous history, and develop ecological practices that support climate adaptability.
Exhibit A
• Site 3: Paseo Parking Lot (exact location tbd) - Space for Play will offer a participatory soccer spectacle that fans FIFA World Cup fervor and could possibly connect to the City’s activities around bringing the United Soccer League to Pico Rivera. The activity will be family-focused and particularly appealing to young audiences. It will also offer potential sponsorship/branding opportunities for the USL to promote the upcoming Pico Rivera teams to the Open Streets audience.
Public Matters’ Work with the Project Team:
• Attend monthly project team meetings with the City of Pico Rivera, Day One, and CicLAvia to ensure work is timely, cohesive, and mutually supportive.
• Work closely with the City of Pico Rivera to ensure that activations/installations align with its overall vision and goals.
Exclusions:
• Equipment procurement/rentals - audiovisual equipment for watch parties, tents, seating, etc. • Production costs for printing/fabrication of general event materials; activation-specific production costs are included in Public Matters’ budget
• Any required permitting
• Pre-event site maintenance, cleaning or clearing of trash, plants, or debris • Event documentation
Budget: see attached resource allocation budget
Options To Extend:
• Additional small scale activation/installation with day-of staffing: $4,000 • Additional large scale activation/installation with day-of staffing: $10,000 • Additional non-site specific engagements along Open Streets route (example: game development to support local businesses): $20,000
Mike Blockstein Reanne Estrada
Co-Principal Co-Principal, Creative Director
Public Matters Proposed Services and Rates - Pico Rivera Celebration Hub Service/Task Loaded Rate Total
Project Development
Concept Development 30 hrs @ $150/hr $4,500.00
Materials Exploration and Procurement 24 hrs @ $50/hr $1,200.00 Field Work and Research (site documentation, site visits) 10 hrs @ $50/hr $500.00 Creation of project management materials (site maps, run of show, task list) 12 hrs @ $175/hr $2,100.00 Off-site Production + Fabrication 95 hrs @ $50/hr $4,750.00 Project Management
Project planning meetings 6 monthly meetings @ $250/mtg for up to 3 staff $1,500.00 Activation Site 1: El Mercado Park
Installation, Deinstallation 4 staff @ $50/hr for 8 hrs/day for 2 days $3,200.00 Day-of staffing Full Day: 2 shifts of 3 people @$50/hr $1,200.00 Activation Supplies and Materials $3,000.00
Transportation: U-Haul Rental + Gas 2 day rental $225.00 Activation Site 2: Native History Park
Installation, Deinstallation 4 staff @ $50/hr for 4 hrs/day for 2 days $1,600.00 Day-of staffing Full Day: 2 staff members @ $50/hr $800.00 Activation Supplies and Materials $1,525.00
Activation Site 3: Los Paseos Parking Lot
Installation, Deinstallation 4 staff @ $50/hr for 4 hrs/day for 2 days $1,600.00 Day-of staffing Full Day: 2 shifts of 2 people @$50/hr $800.00 Activation Supplies and Materials $1,500.00
Total Expenses $30,000.00
Professional Services Agreement
PUBLIC MATTERS
EXHIBIT B
TERMS FOR COMPLIANCE WITH CALIFORNIA LABOR LAW REQUIREMENTS
1. This Agreement calls for services that, in whole or in part, constitute “public works” as defined in Division 2, Part 7, Chapter 1 (commencing with Section 1720) of the California Labor Code (“Chapter 1”). Further, Consultant acknowledges that this Agreement is subject to (a) Chapter 1 and (b) the rules and regulations established by the Department of Industrial Relations (“DIR”) implementing such statutes. Therefore, as to those Services that are “public works”, Consultant shall comply with and be bound by all the terms, rules and regulations described in 1(a) and 1(b) as though set forth in full herein.
2. California law requires the inclusion of specific Labor Code provisions in certain contracts. The inclusion of such specific provisions below, whether or not required by California law, does not alter the meaning or scope of Section 1 above.
3. Consultant shall be registered with the Department of Industrial Relations in accordance with California Labor Code Section 1725.5, and has provided proof of registration to City prior to the Effective Date of this Agreement. Consultant shall not perform work with any subconsultant that is not registered with DIR pursuant to Section 1725.5. Consultant and subconsultants shall maintain their registration with the DIR in effect throughout the duration of this Agreement. If the Consultant or any subconsultant ceases to be registered with DIR at any time during the duration of the project, Consultant shall immediately notify City.
4. Pursuant to Labor Code Section 1771.4, Consultant’s Services are subject to compliance monitoring and enforcement by DIR. Consultant shall post job site notices, as prescribed by DIR regulations.
5. Pursuant to Labor Code Section 1773.2, copies of the prevailing rate of per diem wages for each craft, classification, or type of worker needed to perform the Agreement are on file at City Hall and will be made available to any interested party on request. Consultant acknowledges receipt of a copy of the DIR determination of such prevailing rate of per diem wages, and Consultant shall post such rates at each job site covered by this Agreement.
6. Consultant shall comply with and be bound by the provisions of Labor Code Sections 1774 and 1775 concerning the payment of prevailing rates of wages to workers and the penalties for failure to pay prevailing wages. The Consultant shall, as a penalty to City, forfeit $200.00 for each calendar day, or portion thereof, for each worker paid less than the prevailing rates as determined by the DIR for the work or craft in which the worker is employed for any public work done pursuant to this Agreement by Consultant or by any subconsultant.
Professional Services Agreement
PUBLIC MATTERS
7. Consultant shall comply with and be bound by the provisions of Labor Code Section 1776, which requires Consultant and each subconsultant to: keep accurate payroll records and verify such records in writing under penalty of perjury, as specified in Section 1776; certify and make such payroll records available for inspection as provided by Section 1776; and inform City of the location of the records.
8. Consultant shall comply with and be bound by the provisions of Labor Code seq. concerning the employment of apprentices on public works projects. Consultant shall be responsible for compliance with these aforementioned Sections for all apprenticeable occupations. Prior to commencing work under this Agreement, Consultant shall provide City with a copy of the information submitted to any applicable apprenticeship program. Within 60 days after concluding work pursuant to this Agreement, Consultant and each of its subconsultants shall submit to City a verified statement of the journeyman and apprentice hours performed under this Agreement.
9. The Consultant shall not perform Work with any Subconsultant that has been debarred or suspended pursuant to California Labor Code Section 1777.1 or any other federal or state law providing for the debarment of consultants from public works. The Consultant and Subconsultants shall not be debarred or suspended throughout the duration of this Contract pursuant to Labor Code Section 1777.1 or any other federal or state law providing for the debarment of consultants from public works. If the Consultant or any subconsultant becomes debarred or suspended during the duration of the project, the Consultant shall immediately notify City.
10. Consultant acknowledges that eight hours labor constitutes a legal day’s work. Consultant shall comply with and be bound by Labor Code Section 1810.
Consultant shall comply with and be bound by the provisions of Labor Code Section 1813 concerning penalties for workers who work excess hours. The Consultant shall, as a penalty to City, forfeit $25.00 for each worker employed in the performance of this Agreement by the Consultant or by any subconsultant for each calendar day during which such worker is required or permitted to work more than eight hours in any one calendar day and 40 hours in any one calendar week in violation of the provisions of Division 2, Part 7, Chapter 1, Article 3 of the Labor Code. Pursuant to Labor Code section 1815, work performed by employees of Consultant in excess of eight hours per day, and 40 hours during any one week shall be permitted upon public work upon compensation for all hours worked in excess of eight hours per day at not less than one and one-half times the basic rate of pay.
11. California Labor Code Sections 1860 and 3700 provide that every employer will be required to secure the payment of compensation to its employees. In accordance with the provisions of California Labor Code Section 1861, Consultant hereby certifies as follows:
“I am aware of the provisions of Section 3700 of the Labor Code which require every employer to be insured against liability for workers’ compensation or to undertake self-insurance in accordance with the Professional Services Agreement
PUBLIC MATTERS
provisions of that code, and I will comply with such provisions before commencing the performance of the work of this contract.”
12. For every subconsultant who will perform work on the project, Consultant shall be responsible for such subconsultant’s compliance with Chapter 1 and Labor Code Sections 1860 and 3700, and Consultant shall include in the written contract between it and each subconsultant a copy of those statutory provisions and a requirement that each subconsultant shall comply with those statutory provisions. Consultant shall be required to take all actions necessary to enforce such contractual provisions and ensure subconsultant’s compliance, including without limitation, conducting a periodic review of the certified payroll records of the subconsultant and upon becoming aware of the failure of the subconsultant to pay his or her workers the specified prevailing rate of wages.
Consultant shall diligently take corrective action to halt or rectify any failure.
13. To the maximum extent permitted by law, Consultant shall indemnify, hold harmless and defend (at Consultant’s expense with counsel reasonably acceptable to City) City, its officials, officers, employees, agents and independent consultants serving in the role of City officials, and volunteers from and against any demand or claim for damages, compensation, fines, penalties or other amounts arising out of or incidental to any acts or omissions listed above by any person or entity (including Consultant, its subconsultants, and each of their officials, officers, employees and agents) in connection with any work undertaken or in connection with the Agreement, including without limitation the payment of all consequential damages, attorneys’ fees, and other related costs and expenses. All duties of Consultant under this Section shall survive the termination of the Agreement.
605
San Gabriel River
uez
r
The Whittier G eenway
Rio Hondo Bike
Path
Sa
19 72
Whittier Blvd
Mines AvePassons Blvd
Paramount Blvd
Rosemead Blvd
Fire Station
Sheriff Station
City Hall
Pico Park
Rio Hondo Park
Smith
Park
Rio Hondo
Spreading Grounds
Pio Pico State
Historic Park
Amigo
Park
San Gabriel Coastal Basin
Spreading Grounds
Fire Station Class I Bike Paths Parks and Facilities
Sheriff Station Crossing Points for Cars
Legend
Enclosure 5
4e
Back to Agenda
To: Mayor and City Council
From: City Manager
Meeting Date: January 27, 2026
Subject: MAYORAL APPOINTMENTS
Recommendation:
1. Confirm the Mayor’s appointments to various Boards, Agencies and Committees.
Strategic Priority:
1 - Fiscal & Organizational Sustainability - Create a City government build to adapt to change.
Strategy:
1.1 Build a more transparent and sustainable fiscal system to improve trust and efficiency.
Fiscal Impact:
There is no fiscal impact associated with the Mayor’s appointments to various Boards, Agencies and Committees.
Discussion:
Each year, following the City Council reorganization meeting, the incoming Mayor is charged with assigning members of the City Council to represent the City Council on various Boards, Agencies, Committees, etc. Once the City Council has confirmed the Mayor’s appointments, staff will then notify the appropriate affected agencies. Enclosure 1 lists the Mayoral appointments for the year 2026 and is presented for City Council’s confirmation.
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5 Back to Agenda
CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026
MAYORAL APPOINTMENTS
Conclusion:
Staff recommends confirming the Mayor’s appointments to various Boards, Agencies and Committees for 2026.
Steve Carmona
SC:CA:gsm
Enclosure: 1) 2026 Mayor’s Appointments
Mayor’s Appointments List 2026
* Mayor is the required delegate
^ Not required to file a Form 700 – Statement of Economic Interest City-related Committees (Not Council Appointed)
Members are not appointed by Council, but the Mayor annually assigns a liaison from the City Council membership; only Vector Control.
Member Delegate/Alternate Staff
Form
700 Submit To:
History and Heritage Society
8655 Holbrook Avenue, Pico Rivera,
CA 90660
Susana Lozano
562-619-1118 Garcia / Camacho Pam Yugar No N/A
Christmas Baskets Committee
Christina Trujillo
562-355-8093 Lutz / Garcia Pam Yugar No N/A
Council Liaison Appointments to Other Jurisdictions
Agency Name Contact Delegate/Alternate Stipend
League of California Cities - Los
Angeles Chapter
Kristine Guerrero
League Staff Camacho / Lutz None ? FPPC
*^Los Angeles County City Selection
Committee
Cesar
Hernandez
Camacho /
Sanchez None No N/A
Pico Rivera Chamber of Commerce
3rd Tuesday of the Month, 12noon
Nicole Arruda
562-949-2477 Lutz / Camacho None No N/A
California Contract Cities
Association
Exec. Board, 1st Wed. of the month,
6:00 p.m.
Director's Board, 3rd Wed. of the
month, 6:00 p.m. Marcel Rodarte
Camacho /
Sanchez None Yes FPPC
Gateway Cities Council of
Governments
1st Wed. of the month, 5:30 p.m.
Genny
Cisneros/Ana
Pantoja Lutz / Lara $125 Yes
Los Angeles County
Board of Supervisors
*Sanitation Districts of Los Angeles
County
2nd & 4th Wed. of the month, 1:30
p.m. Kim Christensen Camacho / Garcia
$175 per
meeting per
District Yes FPPC
Southeast Area Social Services
Funding Authority (SASSFA)
4th Thurs. of the month, 12:00 noon Alma Martinez Sanchez / Lara None Yes Los Angeles County
Board of Supervisors
South East Area Animal Control
Authority
(SEAACA)
3rd Thurs. of the month, 2:00 p.m. Cathy Kyle
Camacho /
Sanchez $225 Yes
Los Angeles County
Board of Supervisors
Greater Los Angeles County Vector
Control District (2-year term until
2027) Susanne Kluh
Camacho /(No
alternate required)
$100
quarterly Yes
Los Angeles County
Board of Supervisors
Southern California Association of
Governments (SCAG) Maggie Aguilar Lara / Camacho Yes
Only for member
attending the General
Assembly
Southeast Water Coalition (SEWC)
Kekoa Anderson
(City of Norwalk) Lara / Camacho $150 Yes
Los Angeles County
Board of Supervisors
Washington Boulevard Light Rail
Transit Coalition Camacho / Lara N/A N/A
Enclosure 1
5a
Back to Agenda
To: Mayor and City Council
From: City Manager
Meeting Date: January 27, 2026
Subject: SECOND QUARTER TREASURER’S REPORT AND THE
MONTHLY INVESTMENT TRANSACTION REPORT AS OF
DECEMBER 31, 2025 – FISCAL YEAR 2025-2026
Recommendation:
1. Receive and file the Treasurer’s Report for the quarter ending December 31, 2025, which represents balances and activities for the second quarter (October through December) of the 2025-26 fiscal year; and
2. Receive and file the Treasurer’s Monthly Investment Transaction Report as of December 31, 2025.
Strategic Priority:
1 – Fiscal & Organizational Sustainability – Create a City government built to adapt to change.
Strategy:
1.1 Build a more transparent and sustainable fiscal system to improve trust and efficiency.
Fiscal Impact:
There is no fiscal impact on the General Fund from this item. Quarterly, the Administrative Services Department staff allocates the appropriate interest income to the various funds.
This is reflected in revenue from the respective funds.
Discussion:
The Treasurer's Report (Enclosure 1) provides a synopsis of cash and investment activity for the City of Pico Rivera’s (City) cash and investment portfolio for the fiscal year (FY) 2025-26, second quarter ending December 31, 2025. The report provides information on assets, allocations, average maturities, yields, and valuations for each of the three (3) portfolios. A discussion of market conditions is included to give additional perspective on these measurements.
6 Back to Agenda
CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026 SECOND QUARTER TREASURER’S REPORT AND THE MONTHLY INVESTMENT TRANSACTION REPORT AS OF DECEMBER 31, 2025 – FISCAL YEAR 2025-2026
As of December 31, 2025, the City's cash and investment portfolios are in full compliance with its Investment Policy and Section 53601 of the California Government Code. In addition, the portfolios maintain sufficient cash flow from a combination of liquid and maturing securities, bank deposits, and income to meet the City's expenditure requirements. The paragraphs below provide a summary of the investment results from the second quarter.
Total Pooled Cash and Investments during the quarter were $138,306,018. The aggregate amount consisted of $5,699,174 in the City’s operating accounts with its banking partner, Commercial Bank of California (CBC), $17,153,586 with the CBC Insured Cash Sweep (ICS) Account, $79,929,958 in the State Treasurer’s Local Agency Investment Fund (LAIF), and $35,523,300 managed by Chandler Asset Management (Chandler). The City also had $1,562,326 held by various Trustee Accounts, all related to the City’s bond issues (1999 Water Revenue Bonds, etc.).
The 2018 Certificates of Participation, Series A, managed by Wilmington Trust, have an ending balance of $1,461,471, representing the remaining unspent proceeds. These funds have been invested in Money Market Funds to ensure both stable returns and liquidity.
The Pico Rivera Innovative Municipal Energy (PRIME), an Enterprise Fund, has two (2) bank accounts managed by River City Bank (RCB). The first account, the RCB ICS account, is used to receive and record investment income and had an ending balance of $24,258,348 as of December 31, 2025. The second account, the Public Fund account, is used to receive Electronic Data Interchange collection payments and to process vendor payments for energy purchases. As of December 31, 2025, the Public Fund account had an ending balance of $1,327,543.
Chandler Asset Management - Managed Portfolio
The City entered into a discretionary investment advisory agreement in December 2017 with Chandler, a Securities and Exchange Commission-registered investment advisor, to manage a portion of the City's portfolio in a disciplined, active manner that complies with the City's Investment Policy and stated objectives of safety, liquidity, and yield. After a detailed consultation with Chandler's investment team, the City selected the Limited Maturity investment strategy, benchmarked against the Bank of America Merrill Lynch 1- 3 Year US Treasury & Agency Index. The strategy invests in a well-diversified portfolio of high-quality fixed-income securities. To maintain compliance with the City's Investment Policy, Chandler continues to invest in securities that meet the guidelines established by the City's Investment Policy.
To ensure the portfolio's safety, investments with the highest credit quality are selected.
The Chandler Managed Portfolio consists primarily of Treasury Securities and debt issued by Federal Government-sponsored entities, commonly referred to as federal agency securities. Federal agency securities are widely regarded as among the safest in the global market. Two (2) of the government-sponsored agencies, the Federal National CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026 SECOND QUARTER TREASURER’S REPORT AND THE MONTHLY INVESTMENT TRANSACTION REPORT AS OF DECEMBER 31, 2025 – FISCAL YEAR 2025-2026
Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac), remain under conservatorship and carry an implicit guarantee by the Federal Government. Additionally, both are carefully monitored by the City’s Treasurer to ensure the continued safety of the City’s funds.
The Portfolio Holdings Report (Table 1) reflects the types of security holdings in the City’s investment fund. The market value of the December 31, 2025, portfolio is $35,523,300, an increase of $416,630 from $35,140,903 as of September 30, 2025. In the period ending December 31, 2025, the portfolio held a diverse set of investments, holding eight (8) different security types. The most significant security holding consists of Treasury securities totaling $15,747,673. These Treasury Securities are one of the highest-quality debt instruments.
The Portfolio Holdings Report also provides the portfolio’s Par values (nominal value of a bond); Book yield (Internal Rate of Return); Book value (value of a security); Market YTM (long-term bond yield); Market value (amount security can be sold on a given market); Accrued interest (interest earned); Total portfolio (Market value plus accrued interest); and finally, Modified Duration (bond sensitivity of price that may change in interest rates during duration).
Table 1 - Portfolio Holding Report
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CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026 SECOND QUARTER TREASURER’S REPORT AND THE MONTHLY INVESTMENT TRANSACTION REPORT AS OF DECEMBER 31, 2025 – FISCAL YEAR 2025-2026
The Investments by Type chart (Chart 1) shows the portfolio's holdings by security type.
The portfolio holds 44% in US Treasuries (government treasury bonds, notes, and bills), 27% in corporate medium-term notes, 5% of total investments in federal agency securities, 10% in asset-backed securities, and 9% in agency commercial mortgagebacked securities, which are backed by a pool of assets. The remaining investments are in supranational securities, money market funds, and cash reserves.
Chart 1 - Investments by Type
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CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026 SECOND QUARTER TREASURER’S REPORT AND THE MONTHLY INVESTMENT TRANSACTION REPORT AS OF DECEMBER 31, 2025 – FISCAL YEAR 2025-2026
The Investment Ratings chart (Chart 2) illustrates the investment grade of the portfolio’s holdings. This rating provides the City with assurance regarding the quality and risk associated with the holdings’ investment grade. As the chart below demonstrates, 98.0% of the total portfolio consists of investments with credit ratings of “A” or higher. As of December 31, 2025, the portfolio experienced a slight decrease in this rating of 0.2% from September 30, 2025. Agency bonds and securities generally carry the same rating as the U.S. Government, which is currently rated Aa1 by Moody’s, and AA+ by both S&P and Fitch Ratings. Staff will continue to monitor and work with the City’s investment advisor to ensure the investment portfolio is sound.
Chart 2 - Investment Ratings
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CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026 SECOND QUARTER TREASURER’S REPORT AND THE MONTHLY INVESTMENT TRANSACTION REPORT AS OF DECEMBER 31, 2025 – FISCAL YEAR 2025-2026
The City’s portfolio remains highly rated, liquid, and well-positioned to withstand economic uncertainties. The near-term economic outlook remains affected by data delays resulting from the federal government shutdown. Recently released government statistics, reflecting conditions from two (2) to three (3) months ago, indicate that inflation remains moderately above the Federal Reserve’s target, while labor market conditions have continued to soften. Recent economic data suggests steady but slower growth in 2026, weaker employment, and reduced market uncertainty as the effects of fiscal policy settle.
At a joint meeting of the Federal Open Market Committee (FOMC) and the Board of Governors of the Federal Reserve System (Fed) in December, the committees approved a third consecutive 25-basis-point rate cut in 2025, lowering the target range to 3.50%–
3.75%. As a result of the Fed rate cuts, the spread between the 2-year and 10-year Treasury yields is now +69 basis points, up from +33 a year ago. Beginning on December 1, the Fed stopped quantitative tightening, a strategy that began in June 2022 aimed at controlling inflation. It will now reinvest the proceeds from its existing investments back into the US Treasury securities. As the flow of economic data normalizes, the Chandler team expects further yield curve steepening as the Federal Reserve moves the policy rate toward a more neutral range.
Local Agency Investment Fund (LAIF)
The Pico Rivera Pooled Investment Portfolio is invested in LAIF to manage liquidity while earning a competitive return. The LAIF market value was $80,819,583 as of September 30, 2025, and $79,929,958 as of December 31, 2025. The balance decreased by $1.7 million compared to the previous quarter. This decrease was primarily due to net transfers of $2.5 million from LAIF to the City’s operating bank account in December to take advantage of the higher rate offered through the City’s ICS account, partially offset by $771,139 in interest earned.
The City participates in the State of California LAIF portfolio program. The program involves local agencies participating in an extensive portfolio, utilizing the State Treasurer's Office for investments at no additional cost to taxpayers. The Local Investment Advisory Board (LIAB) provides oversight for LAIF.
LAIF administrative costs are assessed quarterly and have historically ranged between approximately 0.25% and 0.30% of quarterly earnings. The California Government Code limits administrative costs to no more than 5% of the fund's quarterly earnings. The characteristics of the LAIF portfolio reflect minimal credit risk and safety in investing in high-quality securities. Statutes protect LAIF funds and are not borrowable.
Graph 1 compares LAIF to the City’s portfolio managed by Chandler, highlighting differences in investment security types and portfolio duration. Whereas LAIF takes a more conservative approach and focuses on securities with shorter average maturity, LAIF and Chandler follow similar investment guidelines for safety, liquidity, and return.
CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026 SECOND QUARTER TREASURER’S REPORT AND THE MONTHLY INVESTMENT TRANSACTION REPORT AS OF DECEMBER 31, 2025 – FISCAL YEAR 2025-2026
Graph 1 – LAIF and CAM from
December 2018 through December 2025
Staff continuously monitor the City’s investment portfolio and performance. As shown in Graph 1 above, the yield of the Chandler-managed portfolio has historically outperformed the LAIF portfolio until September 2022, when the market yield curve inverted for a prolonged period. Following recent Federal Reserve rate cuts, investments with longer weighted-average maturities, such as the Chandler-managed portfolio, have remained relatively stable. In contrast, investments with shorter weighted-average maturities, such as the LAIF portfolio, have experienced a decline in interest rates. As a result, the Chandler portfolio once again outperformed the LAIF portfolio this quarter in terms of yield.
Commercial Bank of California Insured Sweep Account
As part of the staff’s commitment to the City’s stated objectives of safety, liquidity, and yield, staff continuously research alternative investment opportunities to enhance the City’s investment portfolio. Staff explored various options to diversify the City’s investment portfolio, aiming to increase flexibility in managing future interest rate fluctuations. Following this research, the City established an ICS account with its banking partner, CBC, in August 2023. This investment account aligns with the City’s commitment to prioritizing safety by mitigating credit risk and reinforcing safety by placing operational funds in short-term securities. The account also enhances the City’s liquidity, providing same-day liquidity to meet its short-term obligations and capitalize on current interest rates while safeguarding our long-term investments.
CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026 SECOND QUARTER TREASURER’S REPORT AND THE MONTHLY INVESTMENT TRANSACTION REPORT AS OF DECEMBER 31, 2025 – FISCAL YEAR 2025-2026
As of December 31, 2025, the ICS account had an ending balance of $17,153,586, compared to $10,522,792 on September 30, 2025. The $6.6 million increase is primarily attributable to net transfers of $2.5 million from the LAIF account and $4.1 million from the City’s operating bank account. During the second quarter, the City experienced a positive net cash flow due to timing differences in cash receipts and disbursements, allowing excess liquidity to be strategically moved into the ICS account to take advantage of its higher yield rate.
Staff will continue to closely monitor cash flow activity to ensure adequate liquidity and effective cash management throughout the fiscal year.
Monthly Investment Transaction Report
Per the City’s Investment Policy approved by the City Council on April 8, 2025, the City Treasurer submits a monthly investment transaction report to the City Council within 45 days of the end of the reporting period in accordance with Section 53607 of the California Government Code.
The monthly investment transaction summary provides the City Council with an update on the City’s monthly transactions of the City’s investment portfolio for the month ending December 31, 2025. The statements enclosed include transactions of the City’s investments with LAIF, Chandler, and Commercial Bank of California (Enclosures 2, 3, and 4).
Conclusion:
All investments are maintained in accordance with Section 53601 of the California Government Code and the City’s Investment Policy FY 2025-26. The City Treasurer/Director of Administrative Services certifies that the funds are invested to provide sufficient cash flow for a period of six (6) months. Staff recommend receiving and filing the Treasurer’s Report for the quarter ending December 31, 2025, which represents balances and activities for the second quarter (October through December) of FY 2025- 26 and the Treasurer’s Monthly Investment Transaction Report as of December 31, 2025.
Steve Carmona
SC:JG:JA:YL:ep
Enclosure(s): 1) Treasurer’s Report for the Second Quarter Ending December 31, 2025.
2) LAIF Statement for the Month Ending December 31, 2025. 3) Chandler Asset Management Transaction Ledger for the Month Ending December 31, 2025.
CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026 SECOND QUARTER TREASURER’S REPORT AND THE MONTHLY INVESTMENT TRANSACTION REPORT AS OF DECEMBER 31, 2025 – FISCAL YEAR 2025-2026
4) Commercial Bank of California Insured Cash Sweep Statement for the Month Ending December 31, 2025.
CITY OF PICO RIVERA
TREASURER'S REPORT
2ND QTR OCT 2025 - DEC 2025
TYPE OF INVESTMENT Interest Rate Issuer Reporting Date Investment Income Ending Balance Source of Market Valuation Commercial Bank of California (CBC) Demand Deposits 0.05% CBC 12/31/2025 168 5,699,174 CBC Statements CBC Insured Cash Sweep (ICS) Account 4.17% CBC 12/31/2025 130,768 17,153,586 CBC ICS Statement Local Agency Investment Fund (LAIF) 4.20% LAIF 12/31/2025 - 79,929,958 LAIF Statements Chandler Investments* 4.14% Chandler Investments 12/31/2025 358,619 35,523,300 Chandler Portfolio Summary TOTAL CASH & INVESTMENTS: Exclude Water Fund 550 TOTAL CASH & INVESTMENTS: 489,554 138,306,018 - -
Revenue Bonds, 1999 Bond Fund Water Authority 122073-001 US Bank 12/31/2025 2,647 360,638 US Bank/RECON Statements Revenue Bonds, 1999 Bond Fund Water Authority 122073-002 US Bank 12/31/2025 242 26,285 US Bank/RECON Statements Revenue Bonds, 1999 Bond Fund Water Authority 122073-003 US Bank 12/31/2025 3,649 575,403 US Bank/RECON Statements Revenue Bonds, 1999 Bond Fund Water Authority 122073-004 US Bank 12/31/2025 - - US Bank/RECON Statements Revenue Bonds, 1999 Water Rate Stabilization 122073-011 US Bank 12/31/2025 5,529 600,000 US Bank/RECON Statements Revenue Bonds, 2021 Tax Allocation Refunding Bonds 245558-000 US Bank 12/31/2025 - - US Bank/RECON Statements Revenue Bonds, 2021 Tax Allocation Refunding Bonds 245558-001 US Bank 12/31/2025 - - US Bank/RECON Statements Revenue Bonds, 2021 Tax Allocation Refunding Bonds 245558-002 US Bank 12/31/2025 - - US Bank/RECON Statements Revenue Bonds, 2021 Tax Allocation Refunding Bonds 245558-003 US Bank 12/31/2025 - - US Bank/RECON Statements Revenue Bonds, 2021 Tax Allocation Refunding Bonds 245558-004 US Bank 12/31/2025 - - US Bank/RECON Statements TOTAL FISCAL AGENT (TRUSTEE) INVESTMENTS TOTAL (TRUSTEE) INVESTMENTS: 12,067 1,562,326 - -
TOTAL CASH & TRUSTEE INVESTMENTS: 501,621 139,868,344
Dividends Ending Balance
2018 COPS 130877 Wilmington Trust 12/31/2025 16,197 1,462,471 Wilmington Trust Statement TOTAL 2018 COPS: 16,197 1,462,471
ENTERPRISE FUNDS Interest earned Ending Balance
River City Bank (PRIME) River City Bank ICS Account 12/31/2025 233,796 24,258,348 River City Bank River City Bank (PRIME) River City Bank Operating Account 12/31/2025 - 1,327,543 River City Bank TOTAL RIVER CITY BANK: 233,796 25,585,890
Jane Guo
Director of Administrative Services and City Treasurer, City of Pico Rivera I certify that this investment portfolio is in conformity with the Investment Policy of the City of Pico Rivera. The investment Program provides sufficient liquidity to meet a minimum of the next six month's estimated expenditures. * Average Purchase Yield: The average yield on an investment or a portfolio is the sum of all interest, dividends, or other income that the investment generates, divided by the age of the investment or the length of time the investor has held it.
Enclosure 1
6a Back to Agenda
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
January 05, 2026
LAIF Home
PMIA Average Monthly Yields
CITY OF PICO RIVERA
DIRECTOR OF FINANCE/ADMINISTRATIVE SVCS
6615 PASSONS BLVD
PICO RIVERA, CA 90660
Account Number: 98-19-653
December 2025 Statement
Tran Type Definitions
Effective
Date
Transaction
Date
Tran
Type Confirm
Number
Web
Confirm
Number Authorized Caller Amount
12/17/2025 12/16/2025 RW 1787995 1748636 JESSICA ALCARAZ -2,500,000.00 Account Summary
Total Deposit: 0.00 Beginning Balance: 71,356,672.42
Total Withdrawal: -2,500,000.00 Ending Balance: 68,856,672.42 1/5/26, 10:36 AM LAIF Regular Monthly Statement
https://laifms.treasurer.ca.gov/RegularStatement.aspx 1/1 Operating
Enclosure 2
6b
Back to Agenda
Local Agency Investment Fund
P.O. Box 942809
Sacramento, CA 94209-0001
(916) 653-3001
January 05, 2026
LAIF Home
PMIA Average Monthly Yields
CITY OF PICO RIVERA
COVID RELIEF EMERGENCY ACCOUNT
DIR OF FINANCE/ADMIN SERVICES
6615 PASSONS BLVD
PICO RIVERA, CA 90660
Account Number: 19-19-007
December 2025 Statement
Tran Type Definitions
Account Summary
Total Deposit: 0.00 Beginning Balance: 6,194,247.76
Total Withdrawal: 0.00 Ending Balance: 6,194,247.76
1/5/26, 10:36 AM LAIF Regular Monthly Statement
https://laifms.treasurer.ca.gov/RegularStatement.aspx 1/1 ARPA
Settlement Date
Transaction
Category Transaction Type Security Description Quantity Price Principal Interest Total Amount 12/5/2025 Acquisitions Buy WFCIT 2025-1 A 4.34 05/15/2030 150,000.00 1.01273 151,910.16 361.67 152,271.83 12/5/2025 Acquisitions Buy UNITED STATES TREASURY 3.5 11/15/2028 800,000.00 0.99871 798,968.75 1,546.96 800,515.71 12/6/2025 Acquisitions Buy FIRST AMER:GVT OBLG Y 1,373,530.77 1.00000 1,373,530.77 - 1,373,530.77 12/18/2025 Acquisitions Buy UNITED STATES TREASURY 3.5 12/15/2028 350,000.00 349,671.88 0.99906 100.96 349,772.84 12/8/2025 Dispositions Sell FIRST AMER:GVT OBLG Y 1.00000 1,305,604.96 1,305,604.96 - (1,305,604.96) 12/8/2025 Dispositions Maturity FEDERAL FARM CREDIT BANKS FUNDING CORP 4.625 12/08/2025 200,000.00 200,000.00 1.00000 - (200,000.00) 12/1/2025 Other Transactions Principal Paydown FHMS K-054 A2 2.745 01/25/2026 - - 117,908.88 - (117,908.88) 12/1/2025 Other Transactions Principal Paydown FHMS K-069 A2 3.187 09/25/2027 - - 886.19 - (886.19) 12/1/2025 Other Transactions Principal Paydown FHMS K-087 A2 3.771 12/25/2028 - - 352.33 - (352.33) 12/1/2025 Other Transactions Coupon FHMS K-054 A2 2.745 01/25/2026 - - - - 623.90 12/1/2025 Other Transactions Coupon FHMS K-063 A2 3.43 01/25/2027 - - - - 928.96 12/1/2025 Other Transactions Coupon FHMS K-069 A2 3.187 09/25/2027 - - - - 1,291.94 12/1/2025 Other Transactions Coupon FHMS K-073 A2 3.35 01/25/2028 - - - - 1,312.08 12/1/2025 Other Transactions Coupon FHMS K-081 A2 3.9 08/25/2028 - - - - 503.75 12/1/2025 Other Transactions Coupon FHMS K-082 A2 3.92 09/25/2028 - - - - 620.67 12/1/2025 Other Transactions Coupon FHMS K-083 A2 4.05 09/25/2028 - - - - 776.25 12/1/2025 Other Transactions Coupon FHMS K-085 A2 4.06 10/25/2028 - - - - 930.42 12/1/2025 Other Transactions Coupon FHMS K-087 A2 3.771 12/25/2028 - - - - 917.14 12/1/2025 Other Transactions Coupon FHMS K-090 A2 3.422 02/25/2029 - - - - 941.05 12/1/2025 Other Transactions Coupon FHMS K-746 A2 2.031 09/25/2028 - - - - 710.85 12/5/2025 Other Transactions Management Fee Cash 2,772.71 - 2,772.71 - (2,772.71) 12/8/2025 Other Transactions Coupon FEDERAL FARM CREDIT BANKS FUNDING CORP 4.625 12/08/2025 - - - - 4,625.00 12/11/2025 Other Transactions Coupon TORONTO-DOMINION BANK 5.264 12/11/2026 - - - - 4,211.20 12/11/2025 Other Transactions Coupon AIR PRODUCTS AND CHEMICALS INC 4.3 06/11/2028 - - - - 5,160.00 12/15/2025 Other Transactions Principal Paydown JDOT 2022-B A3 3.74 02/16/2027 - - 2,628.54 - (2,628.54) 12/15/2025 Other Transactions Principal Paydown JDOT 2022-C A3 5.09 06/15/2027 - - 5,109.59 - (5,109.59) 12/15/2025 Other Transactions Principal Paydown MBART 2023-1 A3 4.51 11/15/2027 - - 3,566.81 - (3,566.81) 12/15/2025 Other Transactions Principal Paydown HART 2023-A A3 4.58 04/15/2027 - - 7,843.01 - (7,843.01) 12/15/2025 Other Transactions Principal Paydown JDOT 2023-C A3 5.48 05/15/2028 - - 11,367.06 - (11,367.06) 12/15/2025 Other Transactions Principal Paydown TAOT 2024-A A3 4.83 10/16/2028 - - 8,546.26 - (8,546.26) 12/15/2025 Other Transactions Coupon JDOT 2022-B A3 3.74 02/16/2027 - - - - 48.50 12/15/2025 Other Transactions Coupon JDOT 2022-C A3 5.09 06/15/2027 - - - - 227.11 12/15/2025 Other Transactions Coupon MBART 2023-1 A3 4.51 11/15/2027 - - - - 114.23 12/15/2025 Other Transactions Coupon HART 2023-A A3 4.58 04/15/2027 - - - - 131.75 12/15/2025 Other Transactions Coupon AMXCA 2023-1 A 4.87 05/15/2026 - - - - 527.58 12/15/2025 Other Transactions Coupon UNITED STATES TREASURY 4.125 06/15/2026 - - - - 10,312.50 12/15/2025 Other Transactions Coupon CHAIT 2023-1 A 5.16 09/15/2028 - - - - 1,483.50 12/15/2025 Other Transactions Coupon JDOT 2023-C A3 5.48 05/15/2028 - - - - 999.11 12/15/2025 Other Transactions Coupon AMXCA 2023-3 A 5.23 09/15/2026 - - 0.01 - 1,503.62 12/15/2025 Other Transactions Coupon TAOT 2024-A A3 4.83 10/16/2028 - - - - 605.91 12/15/2025 Other Transactions Coupon UNITED STATES TREASURY 4.625 06/15/2027 - - - - 11,562.50 12/15/2025 Other Transactions Coupon MBALT 2024-B A3 4.23 02/15/2028 - - 0.01 - 475.88 12/15/2025 Other Transactions Coupon HART 2024-C A3 4.41 05/15/2029 - - 0.01 - 532.88 12/15/2025 Other Transactions Coupon UNITED STATES TREASURY 4.0 12/15/2027 - - - - 6,000.00 12/15/2025 Other Transactions Coupon WFCIT 2025-1 A 4.34 05/15/2030 - - - - 1,519.00 12/15/2025 Other Transactions Coupon BACCT 2025-1 A 4.31 05/15/2030 - - 0.01 - 1,497.73 12/16/2025 Other Transactions Principal Paydown GMCAR 2023-2 A3 4.47 02/16/2028 - - 4,874.68 - (4,874.68) 12/16/2025 Other Transactions Coupon GMCAR 2023-2 A3 4.47 02/16/2028 - - - - 188.26 12/16/2025 Other Transactions Coupon GMCAR 2024-4 A3 4.4 08/16/2029 - - - - 366.67 12/20/2025 Other Transactions Principal Paydown GMALT 2024-2 A3 5.39 07/20/2027 - - 9,293.47 - (9,293.47) 12/20/2025 Other Transactions Coupon GMALT 2024-2 A3 5.39 07/20/2027 - - - - 534.15 12/20/2025 Other Transactions Coupon VZMT 2025-3 A1A 4.51 03/20/2030 - - 0.01 - 958.37 12/20/2025 Other Transactions Coupon GMALT 2025-2 A3 4.58 05/22/2028 - - - - 610.67 City of Pico Rivera Portfolio
Chandler Investment Transactions
December 2025
Enclosure 3
Back to Agenda 6c
Settlement Date
Transaction
Category Transaction Type Security Description Quantity Price Principal Interest Total Amount City of Pico Rivera Portfolio
Chandler Investment Transactions
December 2025
12/21/2025 Other Transactions Principal Paydown HAROT 2023-1 A3 5.04 04/21/2027 - - 3,170.48 - (3,170.48) 12/21/2025 Other Transactions Coupon HAROT 2023-1 A3 5.04 04/21/2027 - - - - 81.86 12/24/2025 Other Transactions Custody Fee Cash - 271.87 271.87 - (271.87) 12/25/2025 Other Transactions Principal Paydown BMWOT 2024-A A3 5.18 02/26/2029 - - 2,086.08 - (2,086.08) 12/25/2025 Other Transactions Coupon BMWOT 2024-A A3 5.18 02/26/2029 - - - - 625.92 12/25/2025 Other Transactions Coupon BMWOT 2025-A A3 4.56 09/25/2029 - - - - 836.00 12/31/2025 Other Transactions Dividend FIRST AMER:GVT OBLG Y - - - - 863.07 12/31/2025 Other Transactions Coupon UNITED STATES TREASURY 3.875 12/31/2027 - - - - 11,625.00 12/31/2025 Other Transactions Coupon UNITED STATES TREASURY 4.0 06/30/2028 - - - - 7,500.00 Change in Cash, Payables, Receivables (902,472.95)Changes of Market Values and Accrued Interests (74,922.74)Net Investment Transactions $ 97,697.52Beginning Balance as of 11/30/2025 35,425,602.85Ending Balance as of 12/31/2025 $ 35,523,300.37 Contact Us
(714) 431-7000
Account
CITY OF PICO RIVERA
Date
12/31/2025
Page
1 of 4
IntraFi Cash ServiceSM, or ICS®, Monthly Statement
The following information is a summary of activity in your account(s) for the month of December 2025 and the list of FDIC-insured institution(s) that hold your deposits as of the date indicated. These deposits have been placed by us, as your agent and custodian, in deposit accounts through IntraFi Cash Service. Funds in your deposit accounts at the FDIC-insured institutions at which your funds have been placed will be "deposits," as defined by federal law. Certain conditions must be satisfied for "pass-through" FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi's network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage.
Summary of Accounts
Account ID Deposit Option Interest Rate Opening Balance Ending Balance *********354 Savings 4.05% $12,307,681.81 $17,153,586.05 TOTAL $12,307,681.81 $17,153,586.05
CONTAINS CONFIDENTIAL INFORMATION IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC. !NqH
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Commercial Bank of California
19752 MacArthur Blvd.
Suite 100
Irvine, CA 92612
139697-31A
CITY OF PICO RIVERA
6615 PASSIONS BLVD
PICO RIVERA, CA 90660
67505
RETURN SERVICE REQUESTED
Enclosure 4
6d
Back to Agenda
DETAILED ACCOUNT OVERVIEW
Account ID: *********354
Account Title: CITY OF PICO RIVERA
Account Summary - Savings
Statement Period 12/1-12/31/2025 Average Daily Balance $13,212,396.35 Previous Period Ending Balance $12,307,681.81 Interest Rate at End of Statement Period 4.05% Total Program Deposits 5,600,008.50 Annual Percentage Yield Earned 4.17% Total Program Withdrawals (800,000.00) YTD Interest Paid 608,941.15 Interest Capitalized 45,895.74
Current Period Ending Balance $17,153,586.05
Account Transaction Detail
Date Activity Type Amount Balance
12/02/2025 Deposit $8.50 $12,307,690.31
12/04/2025 Withdrawal (800,000.00) 11,507,690.31
12/23/2025 Deposit 5,600,000.00 17,107,690.31
12/31/2025 Interest Capitalization 45,895.74 17,153,586.05 Summary of Balances as of December 31, 2025
FDIC-Insured Institution City/State FDIC Cert No. Balance Amalgamated Bank New York, NY 622 $247,246.77
American National Bank Omaha, NE 19300 247,859.17
Ameris Bank Atlanta, GA 20504 247,246.77
Anderson Brothers Bank Mullins, SC 9923 247,859.17
BOKF, National Association Tulsa, OK 4214 247,859.17
Banc of California Los Angeles, CA 24045 247,859.17
Banesco USA Miami, FL 57815 247,859.17
Bank of Baroda New York, NY 33681 247,246.75
Bank of China New York, NY 33653 247,859.17
Bank of Springfield Springfield, IL 19506 247,859.17
BankUnited Miami Lakes, FL 58979 247,859.17
Barclays Bank Delaware Wilmington, DE 57203 247,859.17
Beacon Bank & Trust Boston, MA 17798 247,859.17
Byline Bank Chicago, IL 20624 247,246.77
Citizens Bank, National Association Providence, RI 57957 247,206.28 City National Bank of Florida Miami, FL 20234 247,859.17 Coastal Carolina National Bank Myrtle Beach, SC 58864 247,859.17 Coastal Community Bank Everett, WA 34403 247,859.17
Cogent Bank Orange City, FL 34908 247,246.77
Columbia Bank Roseburg, OR 17266 247,246.77
ConnectOne Bank Englewood Cliffs, NJ 57919 247,859.17
Customers Bank Malvern, PA 34444 247,330.88
Dime Community Bank Hauppauge, NY 6976 247,859.17
Date
12/31/2025 Page
2 of 4
CONTAINS CONFIDENTIAL INFORMATION IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC. !NuD
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DETAILED ACCOUNT OVERVIEW
Account ID: *********354
Account Title: CITY OF PICO RIVERA
Summary of Balances as of December 31, 2025
FDIC-Insured Institution City/State FDIC Cert No. Balance Dogwood State Bank Raleigh, NC 57095 247,118.70
East West Bank Pasadena, CA 31628 247,701.82
Enterprise Bank & Trust Clayton, MO 27237 247,859.17
First Financial Bank Abilene, TX 3066 247,859.17
First Mid Bank & Trust N.A. Mattoon, IL 3705 247,768.89 First National Bank of Omaha Omaha, NE 5452 247,246.77
First National Bank of Pennsylvania Greenville, PA 7888 247,859.17 First-Citizens Bank & Trust Company Raleigh, NC 11063 247,859.17 FirstBank Nashville, TN 8663 247,859.17
Five Star Bank Roseville, CA 35361 247,859.17
Flagstar Bank, N.A. Hicksville, NY 32541 247,859.17
Flatirons Bank Boulder, CO 57280 247,246.77
Flushing Bank Uniondale, NY 58564 247,859.17
Grand Savings Bank Grove, OK 32084 247,246.77
Grasshopper Bank, N.A. New York, NY 59113 247,246.77
Great Southern Bank Reeds Spring, MO 29546 247,859.17
Hingham Institution for Savings Hingham, MA 90211 247,246.77 KS StateBank Manhattan, KS 19899 247,245.69
Labette Bank Altamont, KS 17068 247,227.59
Leader Bank, National Association Arlington, MA 57134 247,859.17 Mid Penn Bank Millersburg, PA 9889 247,246.77
NexBank Dallas, TX 29209 247,859.17
Pinnacle Bank Nashville, TN 35583 247,859.17
Pioneer Bank Mapleton, MN 5193 247,859.17
Popular Bank New York, NY 34967 247,859.17
Provident Bank Jersey City, NJ 12010 7.17
Quad City Bank and Trust Company Bettendorf, IA 33867 112.15 S&T Bank Indiana, PA 11124 64,916.84
SMBC MANUBANK Los Angeles, CA 18618 247,859.17
Salem Five Cents Savings Bank Salem, MA 23296 247,859.17 SmartBank Knoxville, TN 58463 247,859.17
Sound Community Bank Seattle, WA 57451 247,859.17
South State Bank, N.A. Winter Haven, FL 33555 247,859.17 Stifel Bank St. Louis, MO 57358 103.82
Summit Bank Eugene, OR 57706 247,859.17
Sunwest Bank Irvine, CA 20164 247,246.77
Synovus Bank Columbus, GA 873 247,859.17
Texas Security Bank Dallas, TX 58739 247,246.77
The Huntington National Bank Columbus, OH 6560 247,859.17 Date
12/31/2025 Page
3 of 4
CONTAINS CONFIDENTIAL INFORMATION IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC. 67505
DETAILED ACCOUNT OVERVIEW
Account ID: *********354
Account Title: CITY OF PICO RIVERA
Summary of Balances as of December 31, 2025
FDIC-Insured Institution City/State FDIC Cert No. Balance Third Coast Bank Humble, TX 58716 247,847.67
TriState Capital Bank Pittsburgh, PA 58457 247,859.17
Truist Bank Charlotte, NC 9846 247,859.17
United Bank Fairfax, VA 22858 247,859.17
United Fidelity Bank, fsb Evansville, IN 29566 247,246.77 Valley National Bank Morristown, NJ 9396 247,859.17
West Bank West Des Moines, IA 15614 247,859.17
West Coast Community Bank Watsonville, CA 57591 247,246.77 West Michigan Community Bank Hudsonville, MI 22308 247,246.77 Western Alliance Bank Phoenix, AZ 57512 247,859.17
Zions Bancorporation, N. A. Salt Lake City, UT 2270 247,859.17 Date
12/31/2025 Page
4 of 4
CONTAINS CONFIDENTIAL INFORMATION IntraFi and ICS are registered service marks, and IntraFi Cash Service is a service mark, of IntraFi Network LLC.
To: Mayor and City Council
From: City Manager
Meeting Date: January 27, 2026
Subject: AGREEMENT WITH LOS ANGELES COUNTY PROBATION
DEPARTMENT FOR CONTINUATION OF THE PREVENTION AND
INTERVENTION PROGRAM
Recommendation:
1. Approve an agreement for a one-year term with the County of Los Angeles Probation Department, to establish a Prevention and Intervention Program (PIP) within the City of Pico Rivera; and
2. Authorize the City Manager to execute the contract in a form approved by the City Attorney.
Strategic Priority:
4 - Health, Wellness & Safety - Create a safe and thriving City with low crime and high standards for health and wellness.
Strategy:
4.3 Maintain a clean, safe, attractive environment to sustain a high quality of life for residents.
Fiscal Impact:
The City of Pico Rivera (City) will reimburse the County of Los Angeles for support services and 50% of the salary and benefits of one Deputy Probation Officer (DPO) and support staff assigned by the County to perform the scope of services outlined in an agreement (Agreement) for a one (1) year period. The billable amount is anticipated to be $127,000, plus any salary and benefits adjustments and/or overhead rate changes approved by the Board of Supervisors for the fiscal year. Funds have been identified within the Public Safety-Contract Services Account No. 100.15.1500-54500 for this item.
Background:
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CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026
AGREEMENT WITH LOS ANGELES COUNTY PROBATION DEPARTMENT FOR
CONTINUATION OF THE PREVENTION AND INTERVENTION PROGRAM
The City Council has long recognized that the safety and well-being of its residents, particularly its youth, are foundational to building a vibrant and thriving community. The City seeks to mitigate issues related to juvenile delinquency, gang involvement, and recidivism among probationers. These issues, if left unaddressed, can have far-reaching consequences, not only for the individuals directly involved but also for the broader community. To address these challenges, the City has pursued innovative, proactive measures to enhance public safety, reduce crime, and improve the quality of life for all residents.
A critical component of these efforts is the integration of specialized probation services within the community. By retaining a DPO through an agreement with the Los Angeles County Probation Department, the City gains direct access to expertise and resources essential to adequate supervision, intervention, and rehabilitation of probationers. This Agreement is not merely about enforcing the law but about fostering positive change and preventing future criminal behavior. This program is designed to address and mitigate juvenile delinquency, provide critical interventions, and enhance community safety by proactively engaging at-risk youth.
This action represents the City establishing a new one-year agreement with the Los Angeles County Probation Department to continue the existing partnership with the Prevention and Intervention Program (PIP) in Pico Rivera. Since its initial implementation, the program has proven to be a practical and essential component of the City’s public safety framework by embedding a dedicated Deputy Probation Officer within the community to focus on early intervention, supervision, and prevention strategies. The continuation of this partnership reflects the City’s commitment to sustaining a program that has demonstrated positive outcomes for at-risk youth and strengthened coordination among public safety and community stakeholders. In addition, it has contributed to a proactive, prevention-oriented approach that addresses the root causes of juvenile delinquency before they escalate into more serious criminal justice involvement.
Discussion:
The purpose of this Agreement is to maintain within the City the services of one DPO and associated support staff to provide specialized probation services. The DPO will manage caseload supervision and coordination, focusing on at-risk youth and juvenile probationers. This role includes collaborating with school administrators, law enforcement, and community providers to implement strategies that promote school success and community safety.
Addressing the Needs of At-Risk Youth
Juvenile crime and delinquency are complex issues that often stem from underlying social, economic, and familial factors. At-risk youth are particularly vulnerable to engaging in criminal activity, gang involvement, or substance abuse due to a lack of positive role models, limited access to educational and recreational opportunities, and exposure to environments where crime is normalized. By retaining a DPO, the City can CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026
AGREEMENT WITH LOS ANGELES COUNTY PROBATION DEPARTMENT FOR
CONTINUATION OF THE PREVENTION AND INTERVENTION PROGRAM
offer targeted interventions that address these root causes, providing at-risk youth with the guidance, support, and resources they need to make better choices. The DPO’s role in this context is not just punitive but rehabilitative, focusing on helping young people avoid the criminal justice system altogether by redirecting their energies toward more constructive paths.
Reducing Recidivism and Supporting Rehabilitation
For those already involved in the criminal justice system, the risk of reoffending is a significant concern. High repeat offender rates can strain public resources, contribute to ongoing crime in the community, and impede the successful reintegration of probationers into society. The DPO plays a crucial role in reducing recidivism by closely monitoring probationers, ensuring they comply with the terms of their probation, and providing ongoing support to address the challenges they face. This might include helping them find employment, access mental health services, or complete educational programs. The presence of a DPO dedicated to Pico Rivera ensures that probationers receive the focused attention and support necessary to break the cycle of reoffending and make positive, lasting changes in their lives.
Enhancing Public Safety Through Strategic Interventions Public safety is a top priority for the City of Pico Rivera. The integration of a DPO within the community enhances the City’s ability to implement strategic interventions that preempt criminal activity. The DPO’s presence enables real-time intelligence gathering and rapid deployment of resources to address emerging threats, particularly those related to gang activity and organized crime. Moreover, the DPO’s collaboration with local law enforcement agencies enhances the effectiveness of crime prevention efforts, ensuring that probationers are held accountable and supported in their efforts to avoid criminal activity.
Building Stronger Community Ties and Trust
A dedicated DPO serves as a bridge between the criminal justice system and the community, helping to build trust and foster cooperation. By engaging with local schools, community organizations, and residents, the DPO can help demystify the probation process, encourage community involvement in crime prevention, and create a more supportive environment for those on probation. This community-based approach is essential for ensuring that public safety initiatives are both effective and sustainable. The DPO’s work in maintaining a visible, positive presence in the community helps to reassure residents that their safety is actively protected and that the City is committed to rehabilitating those who have made mistakes.
Providing Tailored, Community-Specific Solutions
Every community faces unique challenges and needs regarding public safety and crime prevention. By retaining a DPO assigned specifically to Pico Rivera, the City can develop and implement solutions tailored to its specific context. The DPO’s familiarity with local dynamics, including the specific risks and resources available in the community, allows for a more nuanced and impactful approach to probation services. This localized CITY COUNCIL AGENDA REPORT – MEETING OF JANUARY 27, 2026
AGREEMENT WITH LOS ANGELES COUNTY PROBATION DEPARTMENT FOR
CONTINUATION OF THE PREVENTION AND INTERVENTION PROGRAM
expertise ensures that the interventions are relevant, culturally appropriate, and aligned with the community’s values and priorities.
Leveraging County Resources for Local Benefit
Partnering with the Los Angeles County Probation Department allows Pico Rivera to leverage the resources and expertise of a larger entity while maintaining control over their application of those resources within the City. This arrangement provides the City with access to a highly trained DPO who can deliver specialized services without the City having to independently recruit, train, and manage such personnel. The partnership also ensures that the DPO is supported by the County’s infrastructure, including access to training, data, and additional support services, thereby enhancing the program’s overall effectiveness.
Entering into a new one-year Agreement ensures continuity of a program that has demonstrated measurable value to the community and remains necessary to maintain the public safety gains achieved to date. The dedicated presence of a Deputy Probation Officer has enhanced the City’s ability to intervene early with at-risk youth, provide meaningful alternatives to incarceration, and reduce recidivism through consistent supervision, mentorship, and access to supportive services. Equally important, the program maintains a strong and visible probation presence in the community that reinforces accountability while building trust with families, schools, and community organizations. This renewal aligns with the City’s broader public safety strategy by prioritizing prevention, rehabilitation, and community-based solutions that promote longterm stability, safer neighborhoods, and improved outcomes for youth and families in Pico Rivera.
Conclusion:
Staff recommends that the City Council approve a one-year agreement with the County of Los Angeles Probation Department to establish a Prevention and Intervention Program (PIP) within the City of Pico Rivera and authorize the City Manager to execute the agreement in a form approved by the City Attorney.
Steve Carmona
SC:AG:JG:cso
Enclosure: 1) Agreement with County of Los Angeles Probation Department Enclosure 1
7a
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COUNCIL
MEETING
DATE
COUNCIL MEMBER REQUEST DETAIL DIRECTOR(S)
ACTION TAKEN: Memo; Staff
Report; Closed Session;
Presentation; Follow-up
Meeting; City Manager Reports;
Informal Action
DISCUSSION
ITEM
ACTION
ITEM DATE
STATUS:
Complete;
Pending;
On-going;
In-Progress
9/9/2025 Sanchez/Garcia Smoke Free Multi-Unit Housing Year of 2026 Alvie Betancourt CED/Planning Commission Agenda Report In Progress 11/12/2025 Sanchez/Camacho SNAP Benefits Assistance to residents
GOOD OF THE ORDER
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