09.F Report FY 2026 Q3 Investment Report 2026-05-05 — Pismo Beach City Council, May 5, 2026

PISMO BEACH CITY COUNCIL STAFF REPORT
Agenda Item #9.F
May 5, 2026
TITLE:

Quarterly Investment Report for the Three Months of January through March 2026 –the Third Quarter of Fiscal Year (FY) 2026
RECOMMENDATION:

No action recommended; for information only.

EXECUTIVE SUMMARY:

This report updates City Council on the City’s investment portfolio as of the quarter ending on March 31, 2026. This report complies with regulations set forth in California State Government Code Section 53646 in which the City Treasurer is required to submit to the legislative body (City Council) a quarterly report containing various information on the City’s investments. Pursuant to Government Code Section 6505.5, this information is being provided here to the Pismo Beach Public Financing Authority, the Pismo Beach Public Financing Agency, and the Central Coast Blue Regional Recycled Water Authority, through the members of the City Council who sit on those boards.

The report includes all investments managed by the City, including funds invested in various securities, the City’s pooled funds invested in various financial instruments, and funds held in reserve with fiscal agents.
•Table A (Attachment 1) provides a summary of the City’s cash, investments, and earnings based on book value as of March 31, 2026.
•Tables B and C (Attachments 2 and 3) provides details on the investment type, issuer, maturity date, book value, market value, and interest rates as of March 31, 2026 for the General Fund Reserve and City Pooled Funds A, respectively.

All of the City’s investments and the City’s allocation of funds in the various financial instruments comply with State Government Code Sections 53610—53686 and with the City’s Investment Policy’s primary objective to safeguard the principal. Additionally, the City of Pismo Beach’s invested funds as described in this report comply with the City’s Investment Policy and meet the City’s pooled expenditure requirements for the next six months.

Description of Cash and Investment Accounts
Negotiable Certificates of Deposit (CDs), US Government Agency Securities (GASs), Corporate Bonds (Corp Bonds), US Treasury Notes (Treasuries), and Mortgage-Backed Securities (MBSs)
•General Fund Reserves: The City has three reserves invested in various financial instruments that mature at various periods over the next five years. The total amount invested for these three reserves is $8.82 million, earning 3.23% on average of interest during Fiscal Year (FY) 2026. Specifics of each reserve are provided below:
o General Fund Reserve: The City adopted a Fiscal Policy that maintains a General Fund Reserve of 25% of budgeted annual operating expenditures. This Reserve Council Agenda 5-5-2026 9.F-1

should be $9.05 million, which is 25% of the FY 2026 budgeted annual operating expenditures. Currently, $8.07 million is invested in various CDs, GASs, Corp Bonds, and Treasuries earning 3.32% on average per year and $98 thousand is pending investment.
o City Building Reserve: The City Council created a City Building Reserve of $500 thousand for the maintenance and upkeep of City facilities and buildings. Currently, this Reserve is invested in various CDs and GASs earning on average 2.38% per year during FY 2026.
o Risk Management Reserve: The City Council established a Risk Management Reserve, contributing $50 thousand each year to a maximum of $250 thousand.

Currently, this Reserve is $250 thousand, which is invested in CDs and GASs earning 2.28% on average per year.
•City-Pooled Funds A (for deferred capital projects): Based on the City’s 10-year capital plan and the cash flow needs for the next five years, the City has invested $50.20 million in various CDs, GASs, Corp Bonds, MBSs, and Treasuries that mature at various periods over the next five years and have a 3.45% average interest rate during FY 2026.

Other Financial Instruments
City-Pooled Funds B (for current year expenditures): The City follows the practice of pooling cash for all funds in financial instruments. Interest earned on pooled cash and investments is allocated quarterly to the various funds based on the respective fund’s average quarterly cash balance. As of March 31, 2026, the City-Pooled Funds B are allocated or invested as described below.
•$14.99 million in U.S. Bank Checking & Sweep: This account is the City’s primary checking and sweep account, where the account earned on average 3.28%. •$10.42 million in Local Agency Investment Fund (LAIF): LAIF is a State investment pool earning 3.96% annually and is the City’s secondary savings account where the majority of cash is held for current year expenditures. •$5.48 million in PFM Asset Management California Asset Management Program (CAMP) Pool is a California Joint Powers Authority (JPA) is a State investment pool earning 3.80% annually and is the City’s main savings account where the majority of cash is held for current year expenditures.
•$173 thousand in the U.S. Bank Custodian: This is where interest from various investments is deposited and also where matured securities are temporarily deposited earning 4.17% annually.

OPEB Trust Account
The Governmental Accounting Standards Board (GASB) requires public-sector entities to account for the promise to provide other post-employment benefits (OPEB) over the working life of the employee rather than on a pay-as-you-go basis. The City has an actuarial study performed every two years to determine how much to set aside each year to partially or completely fund the City’s future obligations for retiree health costs.

The City’s Other Post-Employment Benefits (OPEB) Trust Account is held with the California Employers’ Retiree Benefit Trust (CERBT) Fund. This trust was established to Council Agenda 5-5-2026 9.F-2

receive employer contributions that prefund retiree health and other post-employment benefit (OPEB) costs for retirees and their beneficiaries. The CERBT Fund helps the City finance future obligations primarily through investment earnings generated by CalPERS, which are projected to average approximately 6.75% annually, though actual returns fluctuate quarterly.

Until FY 2024, the City’s OPEB Trust Account carried an unfunded liability, and the City made annual contributions equal to the Actuarially Determined Contribution (ADC) to reduce that liability. By the end of FY 2024, the Trust became overfunded, allowing the City to be reimbursed for its FY 2025 retiree health costs, with an additional reimbursement anticipated for FY 2026. Consequently, no new contributions will be made to the Trust in FY 2026. Maintaining an OPEB Trust allows the City to treat these contributions as an asset to offset future retiree health costs, rather than carrying them as a long-term liability on the City’s balance sheet.

Portfolio Allocation
Per California Government Code 53600 et seq., and the City's Investment Policy, the City may invest up to a maximum percentage of the entire portfolio of funds in authorized financial instruments. Table 1 and Chart 1 show a summary of the authorized financial instruments, the maximum percentage limits, the book value as of March 31, 2026 of the City’s funds, and the percentage of the total City’s pooled funds that are invested in each financial instrument.

Table 1: Investment Portfolio as of March 31, 2026
Financial Instrument
Maximum
%
Book Value as
of 3/31/26
% of
Portfolio
Council Agenda 5-5-2026 9.F-3

Portfolio Liquidity
The portion of the City’s portfolio that is managed by the City Treasurer (all accounts except the Bond Funds and OPEB Trust Account) is sufficiently liquid to meet the City’s expenditure requirements for the next 6 months. The majority of funds are invested in LAIF, which has a liquidity of one day. Table 2 and Chart 2 illustrate the liquidity of the City’s managed portfolio.

Table 2: Liquidity of the City’s Managed Portfolio
Corporate
Bond, 17%
Checking
Account, 17%
Treasury
Notes, 15%
Negotiable
Certificates of
Deposit, 12%
Local Agency
Investment
Fund, 12%
US
Government
Agency
Obligations,
11%
Mortgage
Backed
Securities, 10%
PFM Asset
Mgmt CAMP,
6%Bank Note, 1%
Chart 1: Investment Portfolio as of March 31, 2026
Liquidity Amount
0 to 30 days 31,074,001$
FY 2026 5,000,000
FY 2027 9,170,363
FY 2028 12,879,779
FY 2029 14,577,837
FY 2030 8,448,647
FY 2031 8,942,590
90,093,217$
Council Agenda 5-5-2026 9.F-4

Investment Value
Book Value: The book value represents the initial outlay for an investment and is the amount carried on a balance sheet. In the past quarter ending March 31, 2026, the City’s total book value of cash and investments was $100.73 million. This is $6.70 million less than the last quarter’s ending balance, largely due to spending down bond proceeds for the 2024 Public Safety Facility Lease Revenue Bonds. In general, there are a number of factors that impact changes in cash and investment balances from quarter to quarter.

These changes may include receiving periodic payments (e.g., property taxes are received in December and April), large payments on debt service or capital projects, seasonal revenues and expenditures, and other factors affecting cash flow. Table 3 illustrates the book value as of the quarter ending March 31, 2026 compared to the previous quarter.

Table 3: Book Value Comparison
0 10,000 20,000 30,000 40,000
0 to 30 days
FY 2026
FY 2027
FY 2028
FY 2029
FY 2030
FY 2031
Portfolio Amount ($ thousands)
Li
q
u
i
d
i
t
y

P
e
r
i
o
d
Chart 2: Liquidity of the City’s Managed Portfolio
TOTAL 100,733,836$ 107,437,736$ (6,703,901)$
Council Agenda 5-5-2026 9.F-5

Market Value: The market value represents the current price at which a security can be traded and is the value of an investment comparing the various aspects of the security to other factors in the market such as interest rates. The market value as of March 31, 2026 for CDs, GASs, Corporate Bonds, MBSs, and Treasuries was $59.02 million, which is $6 thousand greater than the book value, as illustrated in Table 4. The City expects to hold onto the majority of its investments to maturity and would receive the book value of its investment.

Table 4: Book Value to Market Value Comparison
Investment Earnings
In the past quarter ending March 31, 2026, the City’s total interest earnings were a gain of $847 thousand, including a $713 thousand gain in the City’s managed portfolio and a $6 thousand gain in OPEB. The projected annual interest earnings for FY 2026 are $4.23 million, which is a gain of 4.20% for the year for the City’s entire portfolio and a gain of

3.30% for the City’s managed portfolio, as illustrated in Table 5. Note that as the City’s cash and investments change, the interest earnings change correspondingly.

The portfolio’s weighted average duration for General Fund Reserves and City Pooled Funds – A is 2.06 years. This duration indicates limited sensitivity to interest rate changes and supports the City’s objectives of safety and liquidity.

Table 5: Estimated Annual Investment Earnings

Total All Securities 59,019,216$ 59,024,821$ 5,605$ TOTAL 100,733,836$ 846,956$ 3,332,634$ 4,232,721$ 4.20% Total Managed Portfolio 90,093,217$ 712,754$ 2,088,657$ 2,974,191$ 3.30% Council Agenda 5-5-2026 9.F-6

Performance
The City’s Investment Policy outlines the objectives of the City’s investments, in priority order, as:
• Safety of principal to ensure the preservation of,
• Liquidity to enable the City to all operating requirements which might be reasonably anticipated; and
• Return on investments commensurate with the City’s investment risk constraints identified in the Investment Policy and the cash flow characteristics of the portfolio  All three objectives have been met.

The projected annual interest earnings rate for FY 2026 is 4.20% for the City’s entire portfolio. The projected annual interest earnings rate for FY 2026 is 3.30% for the City’s managed portfolio (excludes Bond funds and OPEB Trust Account). This is compared to LAIF, which is earned 3.96% as of March 31, 2026, or the 2-year U.S. Treasury Note, which earned 3.81% as of March 31, 2026. The following Table 6 lists the various performance measures regarding the various annual earnings rate for the City’s entire portfolio, the City’s managed portfolio, and the two benchmarks of LAIF and the 1-year U.S. Treasury Note.

Table 6: City Portfolio Investment Earnings Compared to Performance Measures

Performance Measure
City’s Annual Earnings Rate for entire Portfolio 4.20%
City’s Annual Earnings Rate for Managed Portfolio 3.30% LAIF Average Annual Earnings Rate 3.96%
2-Year U.S. Treasury Note 3.80%

Future Outlook
Economic indicators point to continued growth of the U.S. economy at a steady pace.

Employment gains have been modest in recent months, while the unemployment rate has remained relatively stable. Inflation, however, continues to run above the desired level.

The Federal Open Market Committee (FOMC) long-term objective is to promote maximum employment alongside price stability, defined as inflation averaging 2 percent over time. There remains a high degree of uncertainty in the economic outlook, including potential impacts from geopolitical developments in the Middle East. The Committee continues to monitor risks affecting both employment and inflation.

To support these objectives, the FOMC chose to keep the federal funds rate target range unchanged at 3.50% to 3.75%. Future policy decisions will be guided by incoming economic data, shifts in the outlook, and an ongoing evaluation of risks.

While rates have stabilized and shown some variability, they remain subject to change based on economic conditions and monetary policy. The City Treasurer continues to Council Agenda 5-5-2026 9.F-7

invest across the 1- to 5-year securities and diversify the City’s portfolio across various sectors. This approach is designed to lock in currently favorable rates, supporting continued strength in interest earnings.

FISCAL IMPACT:

No fiscal impact from the report itself—information only.

ATTACHMENTS:

1.Table A: Summary Table for ALL Funds, including Book Values and Earnings Data for Investments in Other Financial Instruments

2.Table B: For the General Fund Reserve—Basic Data on Investments in Securities

3.Table C: For City Pooled Funds A—Basic Data on Investments in Securities Submitted by: Nadia Feeser, Administrative Services Director/City Treasurer City Manager Approval:

Council Agenda 5-5-2026 9.F-8

Investment Name Name of Institution Type of Investment Current
Earnings
Rate
Book Value
as of 3/31/26
Actual Interest
Earned 3rd
Quarter Ending
3/31/26
Year-to-Date
Interest
Earned
Ending
3/31/26
* Data
Source
Estimated
Annual Interest
Earnings **
General Fund Reserves US Bank CDs/GASs/Corp
Bonds/Treasuries

3.23% avg 8,817,030 61,959$ 196,678$ 1 291,704$ City Pooled Funds - A US Bank CDs/GASs/ Corp
Bonds/ MBSs/
Treasuries

3.45% avg 50,202,186 377,750 1,045,298 1 1,623,266 Total All Securities 59,019,216$ 439,709$ 1,241,976$ 1,914,970$ City Pooled Funds - B US Bank Custody 4.17%173,148$ 7,062$ 17,410$ 1 24,472 City Pooled Funds - B Local Agency Invest.

Fund (LAIF)
State Investment Pool 3.96%10,424,301 63,051 72,028 2 122,469 City Pooled Funds - B PFM Asset Mgmt
CAMP
JPA Investment Pool 3.80%5,484,847 87,144 412,705 3 509,849 City Pooled Funds - B US Bank Checking & Sweep 3.28%14,991,705 115,788 344,537 4 402,431 City Pooled Funds - B 31,074,001$ 273,045$ 846,681$ 1,059,222$ City Pooled Funds total A + B 81,276,186$ 650,795$ 1,891,979$ 2,974,191$ Funds Held with Fiscal
Agent
Bond funds: Wilmington
Trust
2017 Pier Project 1,216$ 10$ 1,342$ 5 1,342 Funds Held with Fiscal
Agent
Bond funds: Wilmington
Trust
2017B CREBs 1,009 8 1,010 5 1,010
Funds Held with Fiscal
Agent
Bond funds: Wilmington
Trust
2024 Public Safety
Facility
4,379,324 128,610 801,171 5 821,171 Calpers Benefit Trust
OPEB Trust Account CalPERS Benefit Trust
Account
Various managed by
CalPERS
6,259,070$ 5,574$ 440,453$ 6 435,005 TOTAL, Cash and Investments at March 31, 2026:100,733,836$ 846,956$ 3,332,634$ 4,232,721$ TOTAL for City Managed Portfolio, Cash and Investments:90,093,217$ 712,754$ 2,088,657$ 2,974,191$ Notes:
* Data Sources for Book Values and Actual Interest Earned:
1 = Monthly investment statement from US Bank
2 = Monthly statement from Local Agency Investment Fund 3 = Monthly statement from PFM Asset Management LLC
4 = Monthly reconciled bank statement from US Bank
5 = Monthly statement from Wilmington Trust
6 = Monthly statement from CalPERS Benefit Trust Account ** Estimated Annual Interest Earnings for the current Fiscal Year (FY) 2026:

1. Estimated Earnings on Investments are based on scheduled Interest Payments during FY 2026

2. Estimated Earnings on Other Financial Instruments are based on anticipated average account balances (Book Values) and interest rates during FY 2026.

City of Pismo Beach
Table A: Summary Table for All Funds,
including Book Values & Earnings Data for Investments in Other Financial Instruments Council Agenda 5-5-2026 9.F-9
Attachment 1

City of Pismo Beach
March 31, 2026 QUARTERLY INVESTMENT REPORT
Table B: For the General Fund Reserves - Basic Data on Investments in Securities:

Government Agency Securities, Bank Certificates of Deposit, Corporate Bonds, Treasury Notes CUSIP Issuer Name Coupon Acq Date Maturity Type S&P Par Value Book Value IDC Market Value
Gain/ Loss Days to
Stated
Maturity
023135DD5 Amazon (56.30%)4.25% 3/13/2026 3/13/2031 Corporate Bond AA 99.263 334,464 332,516 (1,948) 1,717 02589ACE0 American Express
(59.76%)

2.90% 5/3/2022 4/27/2027 CD 0 98.959 147,000 145,479 (1,521) 301 025816ED7 American Express Co 4.73% 4/25/2025 4/25/2029 Corporate Bond A-100.632 170,000 171,074 1,074 1,030 052392BT3 Austin Telco Federal
Credit Union

3.80% 9/21/2022 9/21/2027 CD 0 99.864 245,000 244,667 (333) 448 06406RBA4 Bank New York Mellon
(32.69%)

2.05% 1/26/2022 1/26/2027 Corporate Bond A 98.359 245,000 241,152 (3,848) 210 06051GMT3 Bank of America Corp 4.62% 5/9/2025 5/9/2029 Corporate Bond A-100.435 400,000 401,740 1,740 1,044 07371BWH0 Beal Bank Plano Texas 4.70% 6/12/2024 6/6/2029 CD 0 102.216 245,000 250,429 5,429 1,072 07371DT23 Beal Bank USA Las
Vegas Nevada

4.70% 6/12/2024 6/6/2029 CD 0 102.216 245,000 250,429 5,429 1,072 05600XQL7 BMO Harris Bank
(56.73%)

4.45% 5/24/2023 5/24/2028 CD 0 101.204 139,000 140,662 1,662 694 14042TFP7 Capital One Bank
(47.76%)

2.90% 4/27/2022 4/27/2027 CD 0 98.959 117,000 115,794 (1,206) 301 14913UAY6 Caterpillar Finl Svcs 4.40% 4/24/2025 3/3/2028 Corporate Bond N/A 100.493 215,086 216,060 974 612 24951TAL9 Department of
Commerce FCU
(20.41%)

1.25% 1/7/2022 1/7/2027 CD 0 98.026 50,000 49,017 (983) 191 24951TAL9 Department of
Commerce FCU
(22.45%)

1.25% 1/7/2022 1/7/2027 CD 0 98.026 55,000 53,917 (1,083) 191 27004PCV3 Eaglemark Savings
Bank (20%)

3.25% 6/22/2022 6/22/2027 CD 0 99.224 50,000 48,620 (1,380) 357 291916AB0 Empower Federal
Credit Union (53.06%)

5.10% 9/29/2023 9/29/2028 CD 0 102.792 130,000 133,627 3,627 822 3130APB87 FHLB 1.10% 10/13/2021 10/13/2026 Agency AA+98.593 500,000 492,965 (7,035) 105 3130AQZ55 FHLB 2.50% 3/10/2022 3/10/2027 Agency AA+98.829 500,000 494,145 (5,855) 253 3130ALYC2 FHLB (19.2%)1.14% 4/29/2021 4/29/2026 Agency AA+99.796 192,000 191,608 (392) (62) 3130AMCY6 FHLB (2.5%)1.00% 5/27/2021 5/27/2026 Agency AA+99.569 50,000 49,785 (216) (34) 3130AQAU7 FHLB (24.5%)1.45% 12/29/2021 12/29/2026 Agency AA+98.288 245,000 240,806 (4,194) 182 3130AMCY6 FHLB (25.8%)1.00% 5/27/2021 5/27/2026 Agency AA+99.569 516,000 513,776 (2,224) (34) 3130ARF55 FHLB (49%)2.60% 3/30/2022 3/30/2027 Agency AA+98.895 245,000 242,293 (2,707) 273 3130ALYC2 FHLB (5.3%)1.14% 4/29/2021 4/29/2026 Agency AA+99.796 53,000 52,892 (108) (62) 3130ARF55 FHLB (51%)2.60% 3/30/2022 3/30/2027 Agency AA+98.895 255,000 252,182 (2,818) 273 32024JAM5 First Federal Credit
Union - (78.35%)

4.40% 2/17/2023 2/17/2028 CD 0 100.903 191,967 193,691 1,724 597 39573LEM6 Greenstate Credit
Union (20.4%)

5.00% 9/26/2023 9/26/2028 CD 0 102.548 50,000 51,253 1,253 819 437076CW0 Home Depot 4.90% 12/4/2025 4/15/2029 Corporate Bond A 101.897 195,482 193,604 (1,877) 1,020 40428HR95 Hsbc USA Inc 4.65% 6/3/2025 6/3/2028 Corporate Bond A-100.623 400,032 402,492 2,460 704 50625LBN2 Lafayette Federal
Credit Union

3.25% 6/15/2022 6/15/2027 CD 0 99.244 245,000 243,148 (1,852) 350 59013KPN0 Merrick Bank 1.10% 11/9/2021 11/9/2026 CD 0 98.34 245,000 240,933 (4,067) 132 66989HBG2 Novartis Capital 4.40% 3/18/2026 3/18/2031 Corporate Bond AA-99.979 249,900 249,948 48 1,722 70962LAS1 Pentagon Federal
Credit Union (20.4%)

0.90% 9/29/2021 9/29/2026 CD 0 98.537 50,000 49,249 (751) 91 69353RFZ6 PNC Bank 4.43% 10/8/2025 7/21/2028 Corporate Bond A 99.962 402,428 399,848 (2,580) 752 87164X2C9 Synchrony Bank 4.60% 9/15/2023 9/15/2028 CD 0 101.539 245,000 248,771 3,771 808 88413QDL9 Third Federal Savings
Bank

3.50% 6/28/2022 6/28/2027 CD 0 99.513 245,000 243,807 (1,193) 363 89235MLC3 Toyota Financial
Savings Bank

0.95% 7/15/2021 7/15/2026 CD 0 99.147 245,000 242,910 (2,090) 15 91282CJN2 US Treasury 4.38% 12/10/2024 11/30/2028 Treasury Note N/A 101.383 403,703 405,532 1,829 884 91282CMU2 US Treasury 4.00% 12/4/2025 3/31/2030 Treasury Note N/A 100.359 304,969 301,077 (3,892) 1,370 Total $ 8,817,030 $ 8,791,897
Council Agenda 5-5-2026 9.F-10
Attachment 2

City of Pismo Beach
March 31, 2026 QUARTERLY INVESTMENT REPORT
Table B: For the General Fund Reserves - Basic Data on Investments in Securities:

2.90% 5/3/2022 4/27/2027 CD 98.959 147,000 145,479 (1,521) 301 025816ED7 American Express Co 4.73% 4/25/2025 4/25/2029 Corporate Bond A-100.632 170,000 171,074 1,074 1,030 052392BT3 Austin Telco Federal
Credit Union

3.80% 9/21/2022 9/21/2027 CD 99.864 245,000 244,667 (333) 448 06406RBA4 Bank New York Mellon
(32.69%)

2.05% 1/26/2022 1/26/2027 Corporate Bond A 98.359 245,000 241,152 (3,848) 210 06051GMT3 Bank of America Corp 4.62% 5/9/2025 5/9/2029 Corporate Bond A-100.435 400,000 401,740 1,740 1,044 07371BWH0 Beal Bank Plano Texas 4.70% 6/12/2024 6/6/2029 CD 102.216 245,000 250,429 5,429 1,072 07371DT23 Beal Bank USA Las
Vegas Nevada

4.70% 6/12/2024 6/6/2029 CD 102.216 245,000 250,429 5,429 1,072 05600XQL7 BMO Harris Bank
(56.73%)

4.45% 5/24/2023 5/24/2028 CD 101.204 139,000 140,662 1,662 694 14042TFP7 Capital One Bank
(47.76%)

2.90% 4/27/2022 4/27/2027 CD 98.959 117,000 115,794 (1,206) 301 14913UAY6 Caterpillar Finl Svcs 4.40% 4/24/2025 3/3/2028 Corporate Bond N/A 100.493 215,086 216,060 974 612 24951TAL9 Department of
Commerce FCU
(20.41%)

1.25% 1/7/2022 1/7/2027 CD 98.026 50,000 49,017 (983) 191 24951TAL9 Department of
Commerce FCU
(22.45%)

1.25% 1/7/2022 1/7/2027 CD 98.026 55,000 53,917 (1,083) 191 27004PCV3 Eaglemark Savings
Bank (20%)

3.25% 6/22/2022 6/22/2027 CD 99.224 50,000 48,620 (1,380) 357 291916AB0 Empower Federal
Credit Union (53.06%)

5.10% 9/29/2023 9/29/2028 CD 102.792 130,000 133,627 3,627 822 3130APB87 FHLB 1.10% 10/13/2021 10/13/2026 Agency AA+98.593 500,000 492,965 (7,035) 105 3130AQZ55 FHLB 2.50% 3/10/2022 3/10/2027 Agency AA+98.829 500,000 494,145 (5,855) 253 3130ALYC2 FHLB (19.2%)1.14% 4/29/2021 4/29/2026 Agency AA+99.796 192,000 191,608 (392) (62) 3130AMCY6 FHLB (2.5%)1.00% 5/27/2021 5/27/2026 Agency AA+99.569 50,000 49,785 (216) (34) 3130AQAU7 FHLB (24.5%)1.45% 12/29/2021 12/29/2026 Agency AA+98.288 245,000 240,806 (4,194) 182 3130AMCY6 FHLB (25.8%)1.00% 5/27/2021 5/27/2026 Agency AA+99.569 516,000 513,776 (2,224) (34) 3130ARF55 FHLB (49%)2.60% 3/30/2022 3/30/2027 Agency AA+98.895 245,000 242,293 (2,707) 273 3130ALYC2 FHLB (5.3%)1.14% 4/29/2021 4/29/2026 Agency AA+99.796 53,000 52,892 (108) (62) 3130ARF55 FHLB (51%)2.60% 3/30/2022 3/30/2027 Agency AA+98.895 255,000 252,182 (2,818) 273 32024JAM5 First Federal Credit
Union - (78.35%)

4.40% 2/17/2023 2/17/2028 CD 100.903 191,967 193,691 1,724 597 39573LEM6 Greenstate Credit
Union (20.4%)

5.00% 9/26/2023 9/26/2028 CD 102.548 50,000 51,253 1,253 819 437076CW0 Home Depot 4.90% 12/4/2025 4/15/2029 Corporate Bond A 101.897 195,482 193,604 (1,877) 1,020 40428HR95 Hsbc USA Inc 4.65% 6/3/2025 6/3/2028 Corporate Bond A-100.623 400,032 402,492 2,460 704 50625LBN2 Lafayette Federal
Credit Union

3.25% 6/15/2022 6/15/2027 CD 99.244 245,000 243,148 (1,852) 350 59013KPN0 Merrick Bank 1.10% 11/9/2021 11/9/2026 CD 98.34 245,000 240,933 (4,067) 132 66989HBG2 Novartis Capital 4.40% 3/18/2026 3/18/2031 Corporate Bond AA-99.979 249,900 249,948 48 1,722 70962LAS1 Pentagon Federal
Credit Union (20.4%)

0.90% 9/29/2021 9/29/2026 CD 98.537 50,000 49,249 (751) 91 69353RFZ6 PNC Bank 4.43% 10/8/2025 7/21/2028 Corporate Bond A 99.962 402,428 399,848 (2,580) 752 87164X2C9 Synchrony Bank 4.60% 9/15/2023 9/15/2028 CD 101.539 245,000 248,771 3,771 808 88413QDL9 Third Federal Savings
Bank

3.50% 6/28/2022 6/28/2027 CD 99.513 245,000 243,807 (1,193) 363 89235MLC3 Toyota Financial
Savings Bank

0.95% 7/15/2021 7/15/2026 CD 99.147 245,000 242,910 (2,090) 15 91282CJN2 US Treasury 4.38% 12/10/2024 11/30/2028 Treasury Note N/A 101.383 403,703 405,532 1,829 884 91282CMU2 US Treasury 4.00% 12/4/2025 3/31/2030 Treasury Note N/A 100.359 304,969 301,077 (3,892) 1,370 Total $ 8,817,030 $ 8,791,897
Council Agenda 5-5-2026 9.F-11
Attachment 2

City of Pismo Beach
March 31, 2026 QUARTERLY INVESTMENT REPORT
Table C: For City Pooled Funds A - Basic Data on Investments in Securities:

Government Agency Securities, Bank Certificates of Deposit, Corporate Bonds, Mortgage-Backed Securities, Treasury Notes CUSIP Issuer Name Coupon Acq Date Maturity Type S&P Par Value Book Value IDC Market Value
Gain/ Loss Days to
Stated
Maturity
002824BR0 Abbott 3.70% 3/9/2026 3/9/2029 Corporate Bond A+98.811 474,397 469,352 (5,045) 983 00724PAD1 Adobe Inc (46.47%)2.30% 2/10/2026 2/1/2030 Corporate Bond A+92.445 336,297 332,934 (3,363) 1,312 00724PAD1 Adobe Inc (53.53%)2.30% 2/6/2026 2/1/2030 Corporate Bond A+92.445 387,390 383,515 (3,875) 1,312 01025RAN9 Alabama Credit Union 4.35% 2/28/2024 2/28/2028 CD 100.825 245,000 247,021 2,021 608 011852AE0 Alaska USA Federal
Credit Union

4.60% 3/8/2023 3/8/2028 CD 101.301 245,000 248,187 3,187 617 01664MAB2 All In Federal Credit
Union

4.40% 12/20/2022 12/20/2027 CD 100.833 245,000 247,041 2,041 538 01882MAB8 Alliant Credit Union 4.95% 12/30/2022 12/30/2027 CD 101.773 245,000 249,344 4,344 548 02079KBJ5 Alphabet Inc 3.70% 2/13/2026 2/15/2029 Corporate Bond AA+99.141 84,691 84,270 (422) 961 02079KBK2 Alphabet Inc 4.10% 2/17/2026 2/15/2031 Corporate Bond AA+99.305 599,718 595,830 (3,888) 1,691 02079KAW7 Alphabet Inc 4.10% 11/17/2025 11/15/2030 Corporate Bond AA+99.318 275,998 273,125 (2,874) 1,599 023135CT1 Amazon 4.10% 11/20/2025 11/20/2030 Corporate Bond AA 98.828 374,599 370,605 (3,994) 1,604 023135DD5 Amazon (43.70%)4.25% 3/13/2026 3/13/2031 Corporate Bond AA 99.263 259,605 258,099 (1,506) 1,717 02589ACE0 American Express
(40.24%)

2.90% 5/3/2022 4/27/2027 CD 98.959 99,000 97,960 (1,040) 301 025816EJ4 American Express Co 4.35% 2/4/2026 7/20/2029 Corporate Bond A-99.929 281,462 279,801 (1,660) 1,116 04636NAL7 AstraZeneca Finance
LLC

4.85% 4/16/2025 2/26/2029 Corporate Bond A+101.726 222,574 223,797 1,223 972 05253JB59 Australia New Zealand 4.62% 12/16/2024 12/16/2029 Corporate Bond AA-101.183 800,392 809,464 9,072 1,265 062119BS0 Bank Five Nine
(40.82%)

4.60% 4/14/2023 4/13/2028 CD N/A 101.371 100,000 101,380 1,380 653 062119BS0 Bank Five Nine
(59.18%)

4.60% 4/14/2023 4/13/2028 CD N/A 101.371 145,000 146,979 1,979 653 06406RBA4 Bank New York Mellon
(67.31%)

2.05% 1/26/2022 1/26/2027 Corporate Bond A 98.359 504,363 496,541 (7,822) 210 06740KQE0 Barclays Bank 3.00% 5/11/2022 5/11/2027 CD 99.037 245,000 242,641 (2,359) 315 05600XQL7 BMO Harris Bank
(43.27%)

4.45% 5/24/2023 5/24/2028 CD 101.204 106,000 107,288 1,288 694 05580AW 59 BMW Bank North
America

4.60% 3/10/2023 3/10/2028 CD 101.26 245,000 248,087 3,087 619 14042TFP7 Capital One Bank
(52.24%)

2.90% 4/27/2022 4/27/2027 CD 98.959 128,000 126,656 (1,344) 301 14042RQU8 Capital One National
(20.41%)

2.90% 4/27/2022 4/27/2027 CD 98.959 50,000 49,484 (516) 301 14042RQU8 Capital One National
(79.59%)

2.90% 4/27/2022 4/27/2027 CD 98.959 195,000 192,966 (2,034) 301 12547CAX6 CIBC Bank USA
Chicago

4.45% 4/14/2023 4/14/2028 CD 101.079 245,000 247,644 2,644 654 17275RBR2 Cisco Sys Inc 4.85% 11/7/2025 2/26/2029 Corporate Bond AA-101.831 410,164 407,324 (2,840) 972 17325FBP2 Citibank 4.91% 5/29/2025 5/29/2030 Corporate Bond A+101.559 250,000 253,898 3,898 1,429 17325FBL1 Citibank 4.88% 12/11/2024 11/19/2027 Corporate Bond A+100.324 552,195 551,782 (413) 507 19058RAE1 Coastal1 Credit Union 4.15% 1/31/2024 1/31/2028 CD 100.453 245,000 246,110 1,110 580 19075JAB4 Cobalt Federal Credit
Union

3.60% 9/15/2022 9/15/2027 CD 99.593 245,000 244,003 (997) 442 194162AT0 Colgate Palmolive Co 4.20% 5/2/2025 5/1/2030 Corporate Bond A+100.081 249,868 250,203 335 1,401 20271RAV2 Commonwealth Bk
Australia N Y

4.42% 3/14/2025 3/14/2028 Corporate Bond AA-100.596 400,012 402,384 2,372 623 Council Agenda 5-5-2026 9.F-12
Attachment 3

City of Pismo Beach
March 31, 2026 QUARTERLY INVESTMENT REPORT
Table C: For City Pooled Funds A - Basic Data on Investments in Securities:

Government Agency Securities, Bank Certificates of Deposit, Corporate Bonds, Mortgage-Backed Securities, Treasury Notes CUSIP Issuer Name Coupon Acq Date Maturity Type S&P Par Value Book Value IDC Market Value
Gain/ Loss Days to
Stated
Maturity
22551KAU6 Credit Union of Texas 4.40% 12/9/2022 12/9/2027 CD 100.822 245,000 247,014 2,014 527 23204HPB8 Customers Bank 4.50% 6/14/2023 6/14/2028 CD 101.216 245,000 247,979 2,979 715 24951TAL9 Department of
Commerce FCU
(57.14%)

1.25% 1/7/2022 1/7/2027 CD 98.026 140,000 137,230 (2,770) 191 254673D94 Discover Bank 3.20% 5/19/2022 5/19/2027 CD 99.246 245,000 243,153 (1,847) 323 27004PCV3 Eaglemark Savings
Bank (80%)

3.25% 6/22/2022 6/22/2027 CD 99.224 195,000 194,479 (521) 357 532457CV8 Eli Lilly Co Sr 4.75% 3/14/2025 2/12/2030 Corporate Bond A+101.812 201,412 203,624 2,212 1,323 291916AB0 Empower Federal
Credit Union (46.94%)

5.10% 9/29/2023 9/29/2028 CD 102.792 115,000 118,214 3,214 822 30002CAT5 Everett Co-Operative 3.90% 1/23/2023 1/19/2027 CD 100.14 245,000 245,343 343 203 3130ANSB7 FHLB 1.00% 9/17/2021 9/17/2026 Agency AA+98.736 1,000,000 987,360 (12,640) 79 3130ARGQ8 FHLB 2.88% 4/14/2022 4/14/2027 Agency AA+99.063 500,000 495,315 (4,685) 288 3130AQAU7 FHLB (14%)1.45% 12/29/2021 12/29/2026 Agency AA+98.288 140,000 137,603 (2,397) 182 3130AMS37 FHLB (20%)1.00% 6/24/2021 6/24/2026 Agency AA+99.367 400,000 397,468 (2,532) (6) 3130AMCY6 FHLB (25%)1.00% 5/27/2021 5/27/2026 Agency AA+99.569 500,000 497,845 (2,155) (34) 3130AMS37 FHLB (30%)1.00% 6/24/2021 6/24/2026 Agency AA+99.367 600,000 596,202 (3,798) (6) 3130AMCY6 FHLB (46.7%)1.00% 5/27/2021 5/27/2026 Agency AA+99.569 934,000 929,974 (4,026) (34) 3130AMS37 FHLB (50%)1.00% 6/24/2021 6/24/2026 Agency AA+99.367 1,000,000 993,670 (6,330) (6) 3130ARGE5 FHLB (50%)3.00% 4/21/2022 4/21/2027 Agency AA+99.084 250,000 247,710 (2,290) 295 3130ARGE5 FHLB (50%)3.00% 4/21/2022 4/21/2027 Agency AA+99.084 250,000 247,710 (2,290) 295 3130AQAU7 FHLB (61.5%)1.45% 12/29/2021 12/29/2026 Agency AA+98.288 615,000 604,471 (10,529) 182 3130ALYC2 FHLB (75.5%)1.14% 4/29/2021 4/29/2026 Agency AA+99.796 755,000 753,460 (1,540) (62) 3137FRZ95 FHLMC Multiclass Mtg 1.23% 3/25/2025 2/25/2030 MBS N/A 95.741 449,641 459,535 9,894 1,336 3137HJSF5 FHLMC Multiclass Mtg 5.01% 2/13/2025 10/25/2029 MBS N/A 99.723 547,489 545,973 (1,517) 1,213 3137HAQ74 FHLMC Multiclass Mtg 4.74% 12/13/2024 8/25/2028 MBS N/A 101.075 554,146 555,913 1,766 787 3137HB3G7 FHLMC Multiclass Mtg 4.86% 12/13/2024 10/25/2028 MBS N/A 101.558 556,682 558,569 1,887 848 3137HHW31 FHLMC Multiclass Mtg 4.72% 1/16/2025 11/26/2029 MBS N/A 99.983 329,768 329,712 (56) 1,245 3137H74P5 FHLMC Multiclass Mtg 2.12% 4/15/2025 3/25/2029 MBS N/A 94.764 554,508 568,584 14,076 999 3137FEBQ2 FHLMC Multiclass Mtg 3.44% 4/11/2025 12/25/2027 MBS N/A 98.905 563,792 568,704 4,912 543 3137F4X72 FHLMC Multiclass Mtg 3.65% 4/8/2025 2/25/2028 MBS N/A 99.088 558,622 559,847 1,226 605 3137H9QT9 FHLMC Multiclass Mtg 4.56% 7/17/2025 1/25/2029 MBS N/A 100.516 152,102 152,512 410 940 3137HMCE8 FHLMC Multiclass Mtg 4.27% 7/22/2025 6/25/2030 MBS N/A 100.032 549,420 550,176 756 1,456 3137HNN53 FHLMC Multiclass Mtg 4.84% 10/16/2025 7/25/2030 MBS N/A 99.864 549,664 548,917 (748) 1,486 3137HNND6 FHLMC Multiclass Mtg 4.56% 11/6/2025 7/25/2030 MBS N/A 99.828 548,437 547,494 (943) 1,486 3137F9CR0 FHLMC Multiclass Mtg 0.96% 12/29/2025 8/25/2030 MBS N/A 93.321 518,116 518,033 (83) 1,517 3137HNWV6 FHLMC Multiclass Mtg 4.17% 12/5/2025 11/25/2030 MBS N/A 99.49 353,089 348,215 (4,874) 1,609 3137HBLV4 FHLMC Multiclass Mtg 4.57% 3/6/2026 12/25/2028 MBS N/A 100.868 594,712 590,078 (4,634) 909 3137HKXJ8 FHLMC Remic Series 4.41% 4/24/2025 1/25/2030 MBS N/A 100.594 189,993 191,129 1,135 1,305 32024JAM5 First Federal Credit
Union - (21.65%)

4.40% 2/17/2023 2/17/2028 CD 100.903 53,033 53,521 488 597 32110YE84 First National Bank
America

4.60% 9/21/2023 9/21/2028 CD 101.594 245,000 248,905 3,905 814 33715LED8 First Technology 3.70% 8/19/2022 8/19/2027 CD 99.739 245,000 244,361 (639) 415 3136BTGM9 FNMA Gtd Remic 3.00% 12/17/2024 7/25/2027 MBS N/A 98.835 538,976 552,018 13,042 390 3136AY2H5 FNMA Gtd Remic 2.81% 5/23/2025 11/25/2027 MBS N/A 97.983 366,264 369,336 3,072 513 3136B2HA3 FNMA Gtd Remic 3.35% 5/23/2025 7/25/2028 MBS N/A 98.524 401,526 402,597 1,072 756 3136B0YM2 FNMA Gtd Remic 3.00% 5/1/2025 1/25/2028 MBS N/A 97.977 482,603 486,641 4,038 574 38145GAP5 Goldman Sachs 4.15% 1/21/2026 1/21/2029 Corporate Bond BBB+99.383 95,000 94,414 (586) 936 39573LEM6 Greenstate Credit
Union (79.6%)

5.00% 9/26/2023 9/26/2028 CD 102.548 195,000 199,989 4,989 819 Council Agenda 5-5-2026 9.F-13

City of Pismo Beach
March 31, 2026 QUARTERLY INVESTMENT REPORT
Table C: For City Pooled Funds A - Basic Data on Investments in Securities:

Pismo Beach City CouncilMay 5, 2026

Pismo Beach City Council
May 5, 2026