CITY OF SAN MATEO
City Council Regular Meeting
May 18, 2026
7:00 PM
City Hall Council Chamber
Entrance is on O’Farrell Street
COUNCIL MEMBERS
Adam Loraine
Nicole Fernandez
Danielle Cwirko-Godycki
Lisa Diaz Nash
Robert Newsom Jr.
AMENDED AGENDA
THIS MEETING CAN BE ATTENDED IN PERSON OR REMOTE BY JOINING ZOOM – SEE CODES BELOW.
PUBLIC COMMENTS WILL BE ACCEPTED BOTH IN PERSON AND REMOTELY.
SEE END OF AGENDA FOR OPTIONS AND INSTRUCTIONS ON HOW TO PARTICIPATE IN THE MEETING.
To join via Zoom – click here: May 18, 2026
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The City Council meeting will conclude by 11:00 p.m. unless otherwise extended by council vote.
Any unheard items will automatically move forward to the next regular meeting.
This agenda was amended on 5/15/2026: Item 16 updating attachments , and Item 17 to include attachment 1 The agenda was amended on 5/18/2026 to update attachments on Item 16.
CALL TO ORDER
Pledge of Allegiance
Roll Call
Requests and Considerations for Meeting Participation by Teleconference due to Just Cause or Emergency Circumstances
CEREMONIAL
1. Asian American Heritage Month - Proclamation
2. Jewish American Heritage Month – Proclamation
3. Mental Health Awareness Month and Police Activities League Celebration 10th Anniversary Mental Health and Wellness Run - Recognition
4. Christina Horrisberger, Assistant City Manager - Recognition
CONSENT CALENDAR
All matters listed under the Consent Calendar are considered by the Council to be routine and will be enacted by one motion without discussion. If discussion is desired, that item may be removed and considered separately.
5. 2026-27 Community Development Block Grant Annual Action Plan — Adoption 1 of 11211
Adopt the 2026-27 Community Development Block Grant (CDBG) Annual Action Plan and direct staff to submit the plan to the U.S. Department of Housing and Urban Development (HUD); and authorize the City Manager to execute the Grant Agreement with HUD for CDBG funds.
CEQA: This plan is not a project subject to CEQA, because it can be seen with certainty that it will not cause a physical change in the environment. (Public Resources Code Section 21065)
6. Wastewater Treatment Plant Immediate Actions Projects Package-III —Appropriation and Contingency Increase Adopt a Resolution to appropriate $1,200,000 from the Sewer Fund unassigned fund balance to the Wastewater Treatment Plant Immediate Actions Projects (IAP) Package-III project; increase the contingency reserve by $1,200,000 for the associated construction contract with Mountain Cascade, Inc.; and authorize the Public Works Director to issue change orders within the increased contingency.
CEQA: The Council action approving a budget appropriation is not a project subject to CEQA, because it consists of a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. (CEQA Guidelines Section 15378(b)(4).) In addition, the City prepared a Final Programmatic Environmental Impact Report (Final PEIR) in accordance with the California Environmental Quality Act (CEQA) (SCH No. 2015032006). Council on June 6, 2016, certified the PEIR. In accordance with CEQA, the Final PEIR serves as the primary environmental compliance document for the implementation of the Clean Water Program. The City prepared Addenda to the Final PEIR that was approved on July 16, 2018 (Addendum 1) and April 15, 2019 (Addendum 2). This work is within the scope of the Project evaluated in the PEIR and Addendum.
7. On-Call Public Works Plan Review Services — Amendments Approve Amendment No. 3 to the professional consultant services agreement with CSG Consultants, Inc. for oncall Public Works plan review support services, increasing the amount by $200,000 for a revised total amount not to exceed $800,000 and extending the term through June 30, 2027; approve Amendment No. 2 to the professional consultant services agreement with Ghirardelli Associates, Inc. for on-call Public Works plan review support services, increasing the amount by $200,000 for a revised total amount not to exceed $600,000 and extending the term through June 30, 2027; and authorize the Public Works Director to execute the amendments in substantially the form presented and issue future no-cost time extensions, if necessary.
CEQA: This approval of professional services agreement amendments to support planning review services by the Public Works Department is not a project subject to CEQA, because it is an organizational or administrative activity that will not result in direct or indirect physical changes in the environment. (CEQA Guidelines Section 15378(b)(5).)
8. Marina Lagoon Spot Dredging – Agreement
Approve an agreement with MidCal Dredging, Inc. for the Marina Lagoon Spot Dredging Project in the amount of $1,266,216; establish a contingency reserve in the amount of $190,000; and authorize the Public Works Director to execute the agreement in substantially the form presented and issue change orders as allowed by the agreement documents and within the contingency amount.
CEQA: This Project will be performed pursuant to the terms and conditions of an existing permit with the environmental regulatory agencies for the Marina Lagoon including the San Francisco Bay Regional Water Quality Control Board. On July 7, 2021, the City filed a Notice of Exemption with the Office of Planning and Research and the County Clerk-Recorder for the County of San Mateo (SCH No. 2021070131) for proposed maintenance activities for the Marina Lagoon, effective from 2022 through 2026. These maintenance activities are categorically exempt as existing facilities as they involve negligible or no expansion of existing or former use. 2 of 11211
(CEQA Guidelines Section 15301.)
9. 57 Otay Avenue Slide Repair Project — Agreement
Approve an agreement with W.R. Forde Associates, Inc. in the amount of $456,000 for construction of the 57 Otay Avenue Slide Repair Project; establish a contingency reserve of $68,400; and authorize the Public Works Director to execute the agreement in substantially the form presented and issue change orders as allowed by the contract documents within the contingency amount.
CEQA: This Project is categorically exempt from CEQA as an “existing facility,” because it consists of the operation, repair, maintenance, permitting, leasing, licensing, or minor alteration of existing public or private structures, facilities, mechanical equipment, or topographical features, involving negligible or no expansion of existing or former use. (CEQA Guidelines Section 15301.)
10. Quarter ending March 31, 2026 — Investment Report
Receive the quarterly investment report for the period ending March 31, 2026.
CEQA: The Investment Report for the quarter ending March 31, 2026, is not a project subject to CEQA, because it is a government fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. (CEQA Guidelines Section 15378(b)(4).)
11. Fellow I-II New Classification Series, Job Specification, and Salary Schedules – Approval Adopt a Resolution to approve the 1) new limited duration Fellow I-II classification and job specification series pursuant to Personnel Rules and Regulations Section 1 (16) and San Mateo City Employee Association (SMCEA) Memorandum of Understanding Section 27.6 (Limited Duration Positions); and 2) salary ranges for the Fellow I and Fellow II classifications.
CEQA: This new classification series is not subject to CEQA, because it will not cause a physical change in the environment. (CEQA Guidelines Section 15378(b)(4).)
12. Recreation Program Transportation Services – Agreement Approve a one-year agreement for summer camp transportation services with ZUM Services, Inc. for an amount not to exceed $53,962.33; authorize the Parks and Recreation Director to exercise up to two one-year extensions for up to $53,962.33 each year, for a total not to exceed amount of $161,886.99 over three years; establish a contingency reserve of $24,284 and authorize the Park and Recreation Director to execute change orders or amendments within the contingency amount.
CEQA: This agreement is exempt from CEQA, because it can be seen with certainty that there is no possibility that an agreement for summer camp transportation services may have a significant effect on the environment. (CEQA Guidelines Section 15061(b)(3).)
13. Peninsula Clean Energy Name Change to Westlight Energy — Ordinance Adoption Adopt an Ordinance to amend San Mateo Uncodified Ordinance No. 2016 - 1 authorizing the implementation of Community Choice Aggregation Program to address the name change.
CEQA: This Ordinance adoption is not a project subject to CEQA, because it is an organizational or administrative activity that will not result in direct or indirect physical changes in the environment. (CEQA Guidelines Section 15378(b)(5).)
14. Historic Policy Update — Ordinance Adoption
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Adopt an Ordinance to amend San Mateo Municipal Code Chapter 27.66 “Historic Preservation” of the San Mateo Municipal Code to update the City’s historic preservation regulations to be consistent with General Plan 2040, align with industry best practices and establish processes and guidance for identifying, designating, and treating historic resources and districts at the local level; and adopt an Ordinance to add Chapter 2.23 to the San Mateo Municipal Code to establish the Historic Resources Commission.
CEQA: The California Environmental Quality Act (CEQA) applies only to activities that may cause a direct or reasonably foreseeable indirect physical change in the environment. The Historic Preservation Ordinance and Historic Resources Commission Ordinance will update and clarify the City’s policies and processes surrounding historic preservation, but will not materially change or expand their applicability. Therefore, the proposed project meets the criteria of CEQA Guidelines Section 15061(b)(3) (Common Sense Exemption) and, pursuant to this exemption, it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment and is exempt from CEQA. The Ordinance to establish the Historic Resources Commission is also exempt pursuant to Section 15378(b)(5), as this is an administrative activity that will not result in direct or indirect physical changes in the environment. Finally, the Historic Preservation Ordinance is exempt under Section 15308 (Class 8 – Actions by Regulatory Agencies for Protection of the Environment) because the Ordinance regulates how properties can be modified, thereby protecting historic resources through maintaining the existing built environment.
PUBLIC COMMENT
Members of the public wishing to comment on any item not appearing on the agenda may address the City Council at this time. State law prevents Council from taking action on any matter not on the agenda; your comments may be referred to staff for follow up.
Public comment is limited to a total of 15 minutes; however, an opportunity for additional public comment may be provided later in the agenda.
OLD BUSINESS
15. 19th Avenue / Fashion Island Boulevard Multimodal Improvement Project — Informational Update Receive an informational update about the 19th Avenue/Fashion Island Boulevard Multimodal Improvements Project.
CEQA: This informational update is not a project subject to CEQA, because it can be seen with certainty that it will not cause a physical change in the environment. (Public Resources Code Section 21065.)
PUBLIC HEARING
City Council action on the following public hearing(s) represents a final decision concluding all administrative proceedings. Judicial review may be had only if a petition is filed with the Court not later than the 90th day following the date the decision is made.
Judicial review of environmental determinations may be subject to a time period for litigation as short as 30 days following the date the decision is made.
16. 445 S. B Street (Bespoke) – New Mixed-Use Development – Approval and Ordinance Introduction
1. Introduce an Ordinance approving a Development Agreement (DA) associated with the construction a new mixed-use development totaling 239,628 square feet and consisting of one seven-story, 76,072 squarefoot affordable housing building and one six-story, 162,926 square-foot office/commercial building located at 445 South B Street (“Project”).
2. Adopt a Resolution approving a Disposition and Development Agreement (“DDA”) for the Project, including a form of Ground Lease, Reciprocal Easement Agreement, Temporary Construction Easement, and Predevelopment and Permanent Loan Documents (Loan Agreement, Deed of Trust, Promissory Note, Financing Regulatory Agreement), and authorizing the City Manager to execute all documents and make any appropriate changes, with the concurrence of the City Attorney, so long as the changes do not alter 4 of 11211
substantive rights and obligations of the City.
3. Adopt a Resolution appropriating two million nine hundred thousand dollars ($2,900,000) into the Bespoke Predevelopment Project from a Developer Equity Contribution held by the City and provided to the Residential Developer in the form of a Predevelopment Loan.
4. Adopt a Resolution appropriating three million dollars ($3,000,000) in the form of a loan to support the affordable housing construction, with two million dollars ($2,000,000) from the Low Moderate Income Housing Asset Fund (Fund 255) and One Million Dollars ($1,000,000) from the Commercial Linkage Fee Fund (Fund 270) to the Housing Bespoke Project to fund the loan.
5. Adopt a Resolution to approve the Site Plan and Architectural Review (“SPAR”), Special Use Permit (“SUP”), and Site Development Planning Application (“SDPA”) for the Project and to adopt a Mitigated Negative Declaration and Mitigation Monitoring and Reporting Program (“MMRP”) in compliance with the California Environmental Quality Act (“CEQA”), based on the Findings for Approval and subject to the Conditions of Approval for the Project.
CEQA: In accordance with CEQA, an Initial Study and Mitigated Negative Declaration (IS/MND) has been prepared to assess the Project’s environmental impact (Attachment 11). The IS/MND concludes that the Project would not have significant effects on the environment with implementation of Mitigation Measures. The Project’s Mitigation Monitoring and Reporting Program (MMRP) is included in the Project approval resolution (Attachment 3). The Mitigation Measures are also included as conditions of approval. In compliance with AB 52, which requires the City to provide written notification to Native American tribes that are traditionally and culturally affiliated with the geographic area, staff sent letters via certified mail and/or emails to eleven (11) Native American individuals and organizations on March 27, 2024. The City received one response pursuant to AB 52 from the Indian Canyon Band of Costanoan Ohlone People on April 19, 2024. Prior to the issuance of a building permit for demolition, the applicants shall provide proof of an agreement with a qualified Native American representative to provide at least one cultural sensitivity training to construction personnel prior to grading activities. Distribution of the IS/MND consisted of a paper copy available at City Hall and at the Main Library, and posted online on the City’s website. A Notice of Intent (NOI) was sent to all property owners and tenants within 1,000 feet of the Project site, publicly noticed in the San Mateo Daily Journal newspaper, posted in the San Mateo County Clerk-Recorder’s Office, and submitted to the State Clearinghouse, Office of Land Use and Climate Innovation. The IS/MND was circulated for a 30-day public review period from October 4, 2024, to November 4, 2024. Staff received 10 items of public correspondence pertaining to the IS/MND. A memo responding to the public comments is included in Attachment 11 Exhibit B. No comments required further analysis or resulted in the identification of new or worse impacts.
17. Charter Amendments – Public Hearing No. 2
Hold a public hearing regarding proposed amendments to the City Charter to reflect the change to district elections, address other outdated provisions, and provide direction to staff.
CEQA: This public hearing is not a project subject to CEQA, because it is an organizational or administrative activity that will not result in direct or indirect physical changes in the environment. (CEQA Guidelines Section 15378(b)(5).)
18. Downtown Business Improvement Area – Annual Renewal Adopt a Resolution to Levy the Annual Assessments for the Downtown Business Improvement Area for fiscal year 2026-27.
CEQA: This item is not a project subject to CEQA, because it is a government fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. (CEQA Guidelines Section 15378(b)(4).)
NEW BUSINESS
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Senate Bill 707 (Brown Act Amendments): Technology Disruption Policy and Public Outreach and Interpretation Policy — Adoption
Adopt a Resolution to approve the City’s Technology Disruption Policy; adopt a Resolution approving the City’s Public Outreach and Public Interpretation Assistance Practices; and receive a presentation on Senate Bill 707 (SB 707), which made extensive amendments to the Brown Act, and its impacts on the City’s legislative bodies.
CEQA: This policy approval is not a project subject to CEQA, because it is an organizational or administrative activity that will not result in direct or indirect physical changes in the environment. (CEQA Guidelines Section 15378(b)(5).)
REPORTS, ANNOUNCEMENTS, AND COMMITTEE UPDATES
City Manager, City Attorney and Council Members report on their various assignments and liaison roles and Council requests for scheduling future items.
ADJOURNMENT
----------------------------------------------------------------------------------------------------------------------------- AGENDAS: Agendas and material are posted on the City’s website on the Friday preceding each Council Meeting and can be viewed on the City's website at www.cityofsanmateo.org . Any supplemental material distributed to the Council after the posting of the agenda will be made part of the official record.
WATCHING A MEETING ON TV: City Council meetings are broadcast live on Comcast/channel 27, Wave/channel 26, or AT&T/channel 99.
For transmission problems during the broadcast, please call (650) 522-7099. For all other broadcast comments, call (650) 522-7040, Monday-Friday, 8 a.m. - 5 p.m.
WATCHING A MEETING ON A COMPUTER: There are three ways to stream. 1) Public Meeting Portal www.cityofsanmateo.org/publicmeetings 2) City YouTube channel and stream it on YouTube: http://youtube.com/CityofSanMateo 3) Watch TV live stream: https://www.cityofsanmateo.org/193/Channel-San-Mateo-Live-Stream
PUBLIC COMMENTS/REQUEST TO SPEAK
Prior to the Meeting
Send comments to: [email protected] until 4 p.m. the day of the meeting.
During the meeting
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By telephone: Call (408) 638-0968 and enter the conference ID found at the top of the meeting agenda. When the item of interest is open for consideration, select *9 to raise your hand. When called upon, press *6 to unmute, state your name and provide your comments.
In Person: At the meeting complete a “Request to Speak” form. Organized Group and Presentations: Up to five (5) minutes for a group presentation, with as many speakers as can be accommodated within that time allowance. To qualify for a group presentation, all individuals associated with the presentation must be clearly identified and confirmed as in attendance at the meeting. Presentation materials must be submitted to [email protected] one (1) business day in advance of the meeting.
ACCESSIBILITY: In compliance with the Americans with Disabilities Act and to ensure meaningful access for all participants, including those with limited English proficiency, individuals requiring special accommodations or language assistance to participate in this meeting may contact the City Clerk’s Office at (650) 522-7040 or [email protected] . Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting.
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CITY OF SAN MATEO
CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 5 Section Name: CONSENT CALENDAR Account Number: 23-3133 File ID: 26-11069 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: Community Development Department
MEETING DATE: May 18, 2026
SUBJECT:
2026-27 Community Development Block Grant Annual Action Plan — Adoption RECOMMENDATION:
Adopt the 2026-27 Community Development Block Grant (CDBG) Annual Action Plan and direct staff to submit the plan to the U.S. Department of Housing and Urban Development (HUD); and authorize the City Manager to execute the Grant Agreement with HUD for CDBG funds.
BACKGROUND:
The Community Development Block Grant (CDBG) Program provides flexible funding for community development projects and programs to assist individuals and families from extremely low- to moderate-income households, as defined by the Department of Housing and Urban Development (HUD). The City receives an entitlement grant based on a national formula and has participated in this program since 1977.
The City also received an entitlement amount of HOME Investment Partnerships Program (HOME) funds from 1994 to 2015 that was used to assist housing programs and projects for very low-income households. In 2016, the City joined a consortium with the County of San Mateo and City of South San Francisco to pool HOME funds to provide more efficiency and timeliness in expending those funds. In 2025, the City of Redwood City joined the consortium. The City continues to collect loan payments from loans made prior to 2015 and must re-program those funds into HOME-eligible projects.
Community Relations Commission
The Community Relations Commission (CRC) held a Community Needs Workshop on November 18, 2025, to identify what the community’s priorities are for CDBG funding in the upcoming project year. On February 18, 2026, the CRC reviewed applications submitted to the Notice of Funding Availability (NOFA) for the 2026-27 CDBG program year that the City released in December 2025 and voted on funding recommendations. Staff developed the budget in the Annual Action Plan based on the CRC recommendations. On April 15, 2026, the CRC held a Public Hearing to review the draft Annual Action Plan and voted to recommend that the City Council approve the Plan. 2026-2027 Annual Action Plan
The Annual Action Plan, which is included as Attachment 1, outlines the City’s budget for the upcoming CDBG program year (July 1, 2026-June 30, 2027) with details of the programs and projects that will be undertaken to address the needs identified in the City’s 2023-2027 Consolidated Plan. The Consolidated Plan is the Five-Year Plan that outlines the City’s goals to address community needs and the projects and activities to advance those goals using CDBG funds.
The City received its 2026-27 CDBG allocation letter from HUD on April 6, 2026, which announced the City’s entitlement amount for CDBG funds of $802,758. The following budget is inclusive of the 2026-27 CDBG entitlement amount, program income, and prior year funds. The program income is generated by the repayment of housing rehabilitation loans. Prior year 7 of 11211
CITY OF SAN MATEO
funds are a compilation of unspent CDBG funds from previous contracts that will now be repurposed to fund 2026-27 projects.
The major CDBG activities for the upcoming year are:
• Administration – A maximum of 20% of the CDBG entitlement is eligible for administrative costs. Funds will primarily be used to cover City staff salaries who administer the grant, plus associated materials and services costs. Also included in this category is one grant to Project Sentinel for fair housing services in the amount of $26,241. • Public Services - The annual cap for public services is 15% of the entitlement amount. Seven non-profit agencies were awarded Public Services funding for 2026-27, at $17,200 each. Since the City awards CDBG funds on a twoyear cycle, these seven agencies will be eligible for funding in 2027-28 in an amount that will be based on the entitlement amount for that program year.
• Economic Development – The City will fund two grants for microenterprise assistance. The two subrecipients, Renaissance and Upwards, will each receive an award of $40,000 for general microbusiness assistance and technical assistance for childcare providers.
• Minor Home Repair – The City will award Rebuilding Together Peninsula $107,000 to fund two programs: Safe at Home and National Rebuilding Day. Both programs provide minor home repairs, energy upgrades, and accessibility modifications to eligible households.
• Street Improvement Project – The City’s Public Works Department will manage this project, prioritizing sidewalk repair and pedestrian improvements located in the CDBG Priority Target Area, consisting of the North Shoreview and North Central neighborhoods. The project amount for 2026-27 is $461,626.
CDBG Expenditures Program Year 2026-27
Annual Entitlement $802,758
Program Income $8,000
Prior Year Resources $84,509.30
Total $895,267.30
Administration (20% cap)
Recipient Amount
Program Administration (City) $100,000
Project Sentinel (Fair Housing) $26,241
$126,241
Public Services (15% cap)
CORA $17,200
Friends for Youth $17,200
Legal Aid Society $17,200
LifeMoves $17,200
Rape Trauma Services $17,200
Samaritan House – CORE Program $17,200
Samaritan House – Safe Harbor
Shelter
$17,200
$120,400
Economic Development
Renaissance $40,000
Upwards $40,000
$80,000
Minor Home Repair
Rebuilding Together Peninsula $75,000
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Rebuilding Together Peninsula $32,000
$107,000
Public Facilities
Street & Sidewalk Improvements
(Public Works)
$461,626
TOTAL Expenditures $895,267
While the City does not directly manage HOME funds, for the purposes of the Annual Action Plan, the City tracks progress towards meeting its housing and Affirmatively Furthering Fair Housing (AFFH) goals through annual HOME activities undertaken by the County of San Mateo. HOME funds have been primarily used for the predevelopment and development of new construction of affordable housing. Progress is reported on annually through the Consolidated Annual Performance Evaluation Report (CAPER), which is submitted to HUD each September.
At the time of publication of this Agenda Report, only one comment was received from a subrecipient, Upwards, who expressed their appreciation for the grant award.
With respect to CDBG funding, last year the federal government sought to impose various grant conditions that differed from prior years and were prompted by directives of the current administration. This led the City to join a lawsuit challenging those conditions and has resulted in the extension of a previously issued court injunction to newly added plaintiffs including the City of San Mateo. Implementation of the injunction is still in process and will likely affect CDBG grant agreements for FY 2025/26 and FY 2026/27.
BUDGET IMPACT:
The CDBG budget, as outlined in the table above, is in the 2026-27 Annual Action Plan, and will be incorporated into the City’s annual budget. This budget does not have an effect on the City’s General Fund. HUD provides CDBG funds to the City on a reimbursement basis.
ENVIRONMENTAL DETERMINATION:
This plan is not a project subject to CEQA, because it can be seen with certainty that it will not cause a physical change in the environment. (Public Resources Code Section 21065)
NOTICE PROVIDED:
All meeting noticing requirements were met. A public notice was published on April 2, 2026, in the San Mateo Daily Journal to announce publication of the draft plan, the public comment period, and the upcoming meetings: the public hearing held by the Community Relations Commission on April 15, 2026 and this City Council Regular Meeting on May 18, 2026.
ATTACHMENTS
Att 1 – 2026-2027 CDBG Annual Action Plan
STAFF CONTACT
Jennifer Mora, Housing Specialist I
[email protected]
(650) 522-7230
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Annual Action Plan
2026
1 OMB Control No: 2506-0117 (exp. 09/30/2021)
CITY OF SAN MATEO
2026-2027
DRAFT ANNUAL ACTION PLAN
Draft Published Date: 4/10/26
PREPARED BY:
COMMUNITY DEVELOPMENT DEPARTMENT
HOUSING AND NEIGHBORHOOD SERVICES DIVISION
333 W 20TH AVENUE
SAN MATEO, CA 94403
650-522-7220
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2 OMB Control No: 2506-0117 (exp. 09/30/2021)
Table of Contents
Executive Summary ...............................................................................................................3 AP-05 Executive Summary - 91.200(c), 91.220(b).............................................................................3 PR-05 Lead & Responsible Agencies - 91.200(b)...............................................................................8 AP-10 Consultation - 91.100, 91.200(b), 91.215(l) ............................................................................9 AP-12 Participation - 91.401, 91.105, 91.200(c)..............................................................................20 Expected Resources .............................................................................................................25 AP-15 Expected Resources - 91.420(b), 91.220(c)(1,2)....................................................................25 Annual Goals and Objectives................................................................................................28 AP-35 Projects - 91.420, 91.220(d) ................................................................................................47 AP-38 Project Summary................................................................................................................48 AP-50 Geographic Distribution - 91.420, 91.220(f) .........................................................................55 AP-75 Barriers to affordable housing -91.420, 91.220(j).................................................................56 AP-85 Other Actions - 91.420, 91.220(k)........................................................................................58 Program Specific Requirements............................................................................................62 11 of 11211
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Executive Summary
AP-05 Executive Summary - 91.200(c), 91.220(b)
1. Introduction
The U.S. Department of Housing and Urban Development (HUD) designated the City of San Mateo as a Participation Jurisdiction (PJ). HUD awards Community Development Block Grant (CDBG) funds to PJs across the United States based on formula calculations, including factors such as the community's population, pre-1940s housing stock, growth, and decline. San Mateo receives an annual Community Development Block Grant (CDBG) allocation. In Program Year (PY) 2026, the City will receive $802,758 in CDBG funding.
The City is also a member of the San Mateo Housing Consortium, with San Mateo County, the City of Redwood City, and the City of South San Francisco, sharing an allocation of HOME Investment Partnerships Program funding (HOME). Information about HOME funding is provided by San Mateo County Action Plan documents.
To receive the CDBG funds, the City must complete a Five-Year Consolidated Plan to assess community needs relating to housing, public services, public facilities, and infrastructure. Because of its membership of the San Mateo Housing Consortium, the City must complete its Consolidated plan in conjunction with the San Mateo Housing Consortium. The analysis looks at populations most affected by the current housing stock, the state of the economy, and the ability to meet daily living need as well as outline priorities and goals to address those needs. The San Mateo County Consolidated Plan contains the full data analysis for the area, and the City of San Mateo Consolidated Plan contains an abbreviated data analysis. The two documents work together to complete the full analysis and strategies for the area.
Once a year, the City of San Mateo drafts an Action Plan. The City's Annual Plan for program year 2026 is the fourth year of the multi-year 2023-27 Consolidated Plan. The Annual Plan outlines the projects the City will fund to address priority needs of low- and moderate-income populations in San Mateo. At the conclusion of each program year, the City of San Mateo drafts a final report, called the Consolidated Annual Performance and Evaluation Report (CAPER), to report on the City’s progress in meeting the Consolidated Plan goals.
This document will serve as the Program Year (PY) 2026 Action Plan for the City of San Mateo, with a program year from July 1, 2026, to June 30, 2027.
2. Summarize the objectives and outcomes identified in the Plan The City's Consolidated Plan identifies the following needs and has developed goals and activities that further HUD's program goals.
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Goals and Activities
Need: Affordable Housing
Goal: The city of San Mateo continues to have a significant need for more affordable housing. To address this need, the City will continue to make efforts to increase, maintain, and improve the supply of affordable housing for low/mod-income families.
Activities: The City will use CDBG and other local funding sources for new construction, acquisition, and/or rehabilitation of affordable housing units throughout the city. Additionally, the City will preserve, repair, and maintain its existing housing stock to address health and safety issues, as well as make units more accessible, weatherized, sustainable, and energy efficient. The City will also continue to administer its First Time Homebuyer program and existing below-market housing units (rental and ownership). • Safe at Home Program: $32,000 – 4 households
• National Rebuilding Day: $75,000
Need: Public Facilities Improvements
Goal: San Mateo residents and stakeholders articulated a continued need for improvements to public facilities in the city, primarily those located in areas with a high percentage of low/modincome families. They also spoke to the need for public facilities improvements to better serve the needs of special needs populations, such as youth and seniors.
Activities: The City will use its CDBG funds, when feasible, to preserve, improve, and/or rehabilitate facilities used by non-profit agencies that provide public services, as well as Cityowned community facilities, such as parks and recreation centers.
Need: Public Services
Goal: The continued provision of public services was identified through the community engagement process as a critical need in San Mateo. As such, the City will continue providing services to improve the quality of life for low/mod-income families and individuals, including those at risk of experiencing homelessness and special needs populations.
Activities: The City will continue allocating 15% of its entitlement and previous year’s program income from the City’s Community funding program. Collectively, these funds will be granted to non-profit organizations for public services to low/mod-income city residents. Additional funding will also be provided to assist microbusinesses. These funds will be granted to nonprofit agencies to provide public services to individuals and businesses. 13 of 11211
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• Community Overcoming Relationship Abuse (CORA): $17,200 – 100 served • Friends for Youth: $17,200 – 8 served
• Legal Aid: $17,200 – 113 served
• LifeMoves: $17,200 – 54 served
• Rape Trauma Services: $17,200 – 85 served
• Samaritan House Core Services Program: $17,200 – 250 served • Samaritan House Safe Harbor: $17,200 – 40 served
• Renaissance*: $40,000 – 50 served
• Upwards*: $40,000 – 8 served
*These are Economic Development activities that are not subject to the 15% Public Services cap Need: Community Development
Goal: Residents and stakeholders through the community engagement process articulated a significant need for infrastructure improvements in areas with high concentrations of low/modincome households.
Activities: The City will direct infrastructure improvements to its CDBG Priority Neighborhood.
The City will utilize its CDBG funding for capital projects that include, but are not limited to, repairing deteriorating streets, improving accessibility and safety of streets and sidewalks, constructing accessible curb ramps, and other general public safety improvements. The Department of Public Works will manage projects.
• Public Works Street and Sidewalk Improvements: $461,626 Need: Affirmatively Further Fair Housing
Goal: As part of its 2023-31 Housing Element update, the City conducted an assessment of fair housing to understand fair housing issues and contributing factors that inhibit housing choice and access to opportunity in San Mateo. The City has incorporated its Affirmatively Furthering Fair Housing (AFFH) goals into its 2023-27 Consolidated Plan to ensure a holistic approach to achieving goals in both plans.
Activities: The City will allocate CDBG funds from the administrative budget to non-profit organizations that provide fair housing services to city residents. The City will also work towards the goals from the Assessment of Fair Housing.
• Project Sentinel: $26,241 – 12 served
3. Evaluation of past performance
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The City recognizes the ongoing needs of the San Mateo community and continues to fund core service needs. All of the public service, economic development, and fair housing programs have met or exceeded their goals for service, showing an ongoing need for the services they are providing the community. The cost of housing continues to be extremely high in San Mateo and as a result many of the activities focus on services related to housing.
The City's Minor Home Repair programs have been slower to meet their goals, but all organizations and City staff agree that there is a great need for their services. One concern from the sub grantees is that the rising costs of doing projects have made it difficult to find and complete enough home repairs to stay on track of meeting goals.
The outcomes for the goals identified in the 2023-2027 Consolidated Plan and reported in the 2024- 2025 CAPER are as follows:
• Affordable Housing - 225 rental units constructed (Kiku Crossing affordable housing development) utilizing HOME Program Income
• Community Funding- Public service activities other than low/moderate income housing benefit – 17,572 persons assisted
• Maintain & Preserve Existing Housing - 4 homeowner housing units rehabilitated • Microbusiness Assistance – 5 businesses assisted
• Street and Sidewalk improvements - 31,530 persons assisted 2024-2025 CAPER Progress
The progress made on tasks and projects reported in the 2024-2025 CAPER is summarized below:
• Call Community Pantry (Call Primrose): Served 1,463 low- and moderate-income residents with healthy and nutritious food through a community food pantry. • Legal Services (Community Overcoming Relationship Abuse - CORA): Legal assistance was provided for victims of domestic abuse and their families. 157 families received services • Mentoring Services (Friends for Youth): This activity provided school-based mentoring and other wrap-around services for 142 low- and moderate-income youth • HomeSavers (Legal Aid of San Mateo County): Legal assistance was provided to 177 San Mateo residents.
• Shelter Operations (LifeMoves): Provided support for supportive services and interim housing programs for individuals experiencing homelessness. 54 people were provided services. • Sexual Abuse Services for Children and Youth (Rape Trauma Services): This activity provides essential services for children and youth survivors of sexual trauma. 89 children and youth were served.
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• Core Services Program (Samaritan House): This activity provided low- and moderate-income families with case management and emergency assistance for food, clothing, and shelter.
Services were provided to 15,593 residents of the City. • Safe at Home (Rebuilding Together Peninsula): This activity provided minor home repairs to address health and safety issues. Three low- and moderate-income households were served. • Fair Housing Services (Project Sentinel): 12 persons were provided fair housing services. • 2023 Traffic Signal and Pedestrian Improvement Project (City): This project is currently in progress and is located in a community with 62.32 percent low- and moderate-income households. A total of 31,530 households will benefit.
• Creating Economic Opportunity for Low-Income Men and Women (Renaissance): This activity provided customized small business assistance training. 49 residents were assisted. • Boost Program (Upwards): This activity provided technical assistance to in-home childcare providers. 15 residents were assisted.
4. Summary of Citizen Participation Process and consultation process A Community Needs Assessment meeting was held in February 2026 by the Community Relations Commission (CRC). Outreach included notices to both social service providers and residents, a City Enewsletter entry, and an agenda posting on the City’s website. Feedback from this meeting was used to guide the development of the draft 2026-2027 Annual Action Plan, which was presented to the CRC once again in April 2026 for review and later to the City Council in May 2026 for final approval.
5. Summary of public comments
The public comment period was open from April 10, 2026, through May 10, 2026. The City accepted public comments prior and during public meetings for the Community Relations Commission (CRC).
6. Summary of comments or views not accepted and the reasons for not accepting them The City accepts all comments related to the PY2026 Action Plan.
7. Summary
The City's 2026 Annual Plan has been developed based on the City's service priority needs as well as the goals set forth in the 2023-27 Consolidated Plan.
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PR-05 Lead & Responsible Agencies - 91.200(b)
1. Agency/entity responsible for preparing/administering the Consolidated Plan The following are the agencies/entities responsible for preparing the Consolidated Plan and those responsible for administration of each grant program and funding source.
Agency Role Name Department/Agency
CDBG Administrator SAN MATEO Community Development Department HOME Administrator SAN MATEO Community Development Department Table 1 – Responsible Agencies
Narrative
The City of San Mateo receives its own allocation of CDBG funds. The City is a member of the San Mateo County Housing Consortium to share the HOME allocation. San Mateo County administers both the HOME funding source and utilizes their experience successfully implementing other HUD-funded programs, working with low- and moderate-income beneficiaries and community service providers.
Public Contact Information
City of San Mateo
Neighborhood Improvement and Housing Division
330 W. 20th Ave
San Mateo, CA 94403
Phone: (650) 522-7223
Email: [email protected]
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AP-10 Consultation - 91.100, 91.200(b), 91.215(l)
1. Introduction
The City participated in a consultation process as part of a cohort of other communities in San Mateo County during the development of this Annual Action Plan. The cohort included the City of San Mateo, San Mateo County, Redwood City, Daly City, and South San Francisco. Through this process, stakeholders from government agencies, housing providers and service providers shared information and identified community needs.
The City consulted with the County’s Center on Homelessness to address the needs of individuals and families experiencing or at risk of homelessness. Through the Coordinated Entry System, individuals are assessed and prioritized for housing and services based on need. Stakeholders noted barriers such as limited shelter capacity and funding gaps, as well as an increasing number of seniors experiencing homelessness. Supportive services including case management, job training, and street medicine partnerships help connect individuals to care, while programs such as Rapid Rehousing and Permanent Supportive Housing were identified as effective strategies for helping households exit homelessness and achieve housing stability.
Provide a concise summary of the jurisdiction’s activities to enhance coordination between public and assisted housing providers and private and governmental health, mental health and service agencies (91.215(l)).
Throughout the Annual Action Plan period, the City will maintain its relationships with organizations that serve the public, especially low- and moderate-income residents. Efforts will include:
• Working with other participating jurisdictions in San Mateo County to coordinate and streamline the CDBG process
• Working with non-profit social service providers, the County of San Mateo, other participating jurisdictions, and other stakeholders to coordinate needed services in the community • Providing funds through the community funding program to non-profit service providers • Working with non-profit organizations, private developers, and the County of San Mateo to build and maintain affordable housing.
• Working with the Continuum of Care, Homeless Outreach Team, and non-profit service providers to coordinate homeless services.
Describe coordination with the Continuum of Care and efforts to address the needs of homeless persons (particularly chronically homeless individuals and families, families with children, veterans, and unaccompanied youth) and persons at risk of homelessness. 18 of 11211
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The Continuum of Care (COC) guides the implementation of the county's housing and service system to meet the needs of homeless individuals and families. The City of San Mateo participates in COC meetings and monitors decision-making to better understand latest trends in homeless outreach. The COC coordinates the following activities:
• System planning (identifying gaps, developing strategies to fill gaps, responding to emerging best practices, etc.)
• Setting funding priorities for Emergency Solutions Grant and COC funds • Assessing system performance and making system redesigns as needed • Coordinating with other planning entities such as the Community Action Agency • Undertaking a wide range of efforts to meet the needs of homeless individuals and families Chronically Homeless: COC has created a multi-disciplinary, bilingual, Homeless Outreach Team (HOT) to conduct intensive outreach and engagement with unsheltered and chronically homeless individuals and families located throughout the County, with specialized HOT teams in the cities of San Mateo, Redwood City, South San Francisco, Half Moon Bay, Pacifica, and East Palo Alto. Aside from the COC’s HOT team, the City of San Mateo’s Police Department has their own HOT team that specializes in assisting chronically homeless individuals in San Mateo by providing case management and immediate services.
Families with children: To reduce the number of unsheltered families, the COC has developed a rapid rehousing program. The San Mateo County Human Services Agency has provided funding for a motel voucher program to assist families with children that are waiting to access shelter. Additionally, the City’s Emergency Rental Assistance Program is aimed at preventing low-income households from evictions when they are experiencing temporary financial hardships that prevent them from paying rent.
Veterans: Needs include housing and assistance for homeless, employment and education services, and improved and increased liaisons with the Veterans Benefits Administration. The City provided funding through the States’ Permanent Local Housing Allocation (PLHA) funding for Montara at Bay Meadows, a 67-unit affordable housing building. Eleven units are dedicated to house veterans.
Youth: Currently, HUD COC funds are provided to the San Mateo County Mental Health Association to operate its Support and Advocacy for Young Adults in Transition Program, which provides case management and housing search/stabilization services to homeless youth. The San Mateo County Housing Authority administers the Family Unification Program vouchers.
Describe consultation with the Continuum(s) of Care that serves the jurisdiction’s area in determining how to allocate ESG funds, develop performance standards for and evaluate outcomes of projects and activities assisted by ESG funds, and develop funding, policies and procedures for the operation and administration of HMIS. 19 of 11211
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The City of San Mateo does not receive Emergency Solutions Grant (ESG) funding. However, the City does participate in COC meetings as part of its ongoing responsibility in receiving HUD funding, and Housing staff sit on the County’s Housing and Community Development Committee (HCDC), which makes funding recommendations for ESG and CDBG. County DOH has delegated responsibility for management of all ESG funds, plus the portion of the County CDBG funds used for homeless activities, to the COC Lead Agency and the San Mateo County Human Services Agency (HSA). Management responsibilities include issuing requests for proposals for ESG funding, awarding contracts, gathering community input, data analysis, and contract monitoring. The COC Lead Agency is also the Homeless Management Information System (HMIS) Lead Agency and develops the policies and procedures for operation and administration of HMIS for ESG funded projects.
2. Agencies, groups, organizations and others who participated in the process and consultations
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Table 2 – Agencies, groups, organizations who participated 1 Agency/Group/Organization City of San Mateo
Agency/Group/Organization Type Agency - Managing Flood Prone Areas Agency - Management of Public Land or Water Resources
Agency - Emergency Management
Other government - Local
Grantee Department
What section of the Plan was addressed by Consultation? Infrastructure Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with other departments on a regular basis to understand the needs of the community that may not be directly under the grantee department's responsibility.
2 Agency/Group/Organization FRIENDS FOR YOUTH, INC
Agency/Group/Organization Type Services-Children
Regional organization
What section of the Plan was addressed by Consultation? Housing Need Assessment Non-Homeless Special Needs
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
Organization provided input through the Landscape Analysis. 3 Agency/Group/Organization Project Sentinel
Agency/Group/Organization Type Services - Housing
Service-Fair Housing
Regional organization
Neighborhood Organization
What section of the Plan was addressed by Consultation? Housing Need Assessment 21 of 11211
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Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the organization regularly on the needs of the community throughout the program year.
4 Agency/Group/Organization Rape Trauma Services
Agency/Group/Organization Type Services-Children
Services-Victims of Domestic Violence
Services-homeless
Services - Victims
Regional organization
What section of the Plan was addressed by Consultation? Housing Need Assessment Homeless Needs - Families with children
Homelessness Strategy
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the organization regularly on the needs of the community throughout the program year.
5 Agency/Group/Organization LEGAL AID SOCIETY OF SAN MATEO COUNTY Agency/Group/Organization Type Services - Housing
Service-Fair Housing
Regional organization
What section of the Plan was addressed by Consultation? Housing Need Assessment Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the organization regularly on the needs of the community throughout the program year.
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6 Agency/Group/Organization LifeMoves
Agency/Group/Organization Type Housing
Services-homeless
Regional organization
What section of the Plan was addressed by Consultation? Homeless Needs - Chronically homeless Homeless Needs - Families with children
Homelessness Needs - Veterans
Homelessness Needs - Unaccompanied youth
Homelessness Strategy
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the organization regularly on the needs of the community throughout the program year.
7 Agency/Group/Organization Samaritan House
Agency/Group/Organization Type Housing
Services-homeless
Services-Health
Regional organization
Food, clothing
What section of the Plan was addressed by Consultation? Housing Need Assessment Homeless Needs - Chronically homeless
Homeless Needs - Families with children
Homelessness Needs - Veterans
Homelessness Needs - Unaccompanied youth
Homelessness Strategy
Basic human needs
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Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the organization regularly on the needs of the community throughout the program year.
8 Agency/Group/Organization Renaissance Entrepreneurship Center Agency/Group/Organization Type Services-Employment
Regional organization
What section of the Plan was addressed by Consultation? Market Analysis Economic Development
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the organization regularly on the needs of the community throughout the program year. Organization provided input through the Landscape Analysis.
9 Agency/Group/Organization HOUSING AUTHORITY OF SAN MATEO COUNTY Agency/Group/Organization Type Housing
Other government - County
What section of the Plan was addressed by Consultation? Housing Need Assessment Public Housing Needs
Market Analysis
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
A representative assisted the City with the public housing response/narrative of the Action Plan.
10 Agency/Group/Organization Community Overcoming Relationship Abuse Agency/Group/Organization Type Services-Victims of Domestic Violence Services-homeless
Services - Victims
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What section of the Plan was addressed by Consultation? Housing Need Assessment Homeless Needs - Families with children
Homelessness Strategy
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
Organization provided input through the Landscape Analysis. 11 Agency/Group/Organization Rebuilding Together Peninsula Agency/Group/Organization Type Housing
Services - Housing
What section of the Plan was addressed by Consultation? Housing Need Assessment Market Analysis
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the organization regularly on the needs of the community throughout the program year.
12 Agency/Group/Organization ASSOCIATION OF BAY AREA GOVERNMENTS Agency/Group/Organization Type Regional organization
Planning organization
What section of the Plan was addressed by Consultation? Housing Need Assessment Market Analysis
Economic Development
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the organization regularly on the needs of the community throughout the program year.
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13 Agency/Group/Organization San Mateo County Health Department Agency/Group/Organization Type Services-Persons with HIV/AIDS Services-Health
Health Agency
Publicly Funded Institution/System of Care
Other government - County
What section of the Plan was addressed by Consultation? Homeless Needs - Chronically homeless Homeless Needs - Families with children
Homelessness Needs - Veterans
Homelessness Needs - Unaccompanied youth
Homelessness Strategy
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
Provided input through the Landscape Analysis.
14 Agency/Group/Organization CITY OF DALY CITY
Agency/Group/Organization Type Other government - County What section of the Plan was addressed by Consultation? Housing Need Assessment Market Analysis
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the organization regularly on the needs of the community throughout the program year as well as coordinating efforts to fund community based organizations.
15 Agency/Group/Organization San Mateo County Department of Housing Agency/Group/Organization Type Other government - County What section of the Plan was addressed by Consultation? Housing Need Assessment Market Analysis
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Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the organization regularly on the needs of the community throughout the program year as well as coordinating efforts to fund community based organizations.
16 Agency/Group/Organization U.S. Department of Housing and Urban Development, San Francisco Regional Field Office
Agency/Group/Organization Type Other government - Federal What section of the Plan was addressed by Consultation? Housing Need Assessment Market Analysis
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the department on various compliance issues and strategies for spend down of funding.
17 Agency/Group/Organization City of Redwood City
Agency/Group/Organization Type Other government - Local What section of the Plan was addressed by Consultation? Housing Need Assessment Market Analysis
Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consults with the organization regularly on the needs of the community throughout the program year as well as coordinating efforts to fund community based organizations.
18 Agency/Group/Organization County of San Mateo
Agency/Group/Organization Type Services - Broadband Internet Service Providers What section of the Plan was addressed by Consultation? Market Analysis Briefly describe how the Agency/Group/Organization was
consulted. What are the anticipated outcomes of the
consultation or areas for improved coordination?
The City consulted with the County of San Mateo's Information Systems Department to identify the strategies to increase access to broadband services to low and moderate income communities in San Mateo (city).
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Identify any Agency Types not consulted and provide rationale for not consulting The City strove to include as broad a group of community stakeholders as possible.
Other local/regional/state/federal planning efforts considered when preparing the Plan Name of Plan Lead Organization How do the goals of your Strategic Plan overlap with the goals of each plan? Continuum of
Care
San Mateo County
Human Services
Agency
The City has identified the core service needs of Basic Human Needs and Preserving or Providing Affordable Housing, both of which supports homelessness programming.
Housing
Element
City of San Mateo
The Housing Element documents the housing needs in San Mateo and includes the programs and policies to address its Four Goals: Maintain the quality and character of residential neighborhoods; Provide a diversity of housing types, responsive to household size, income and age needs; Ensure that all new housing is developed or remodeled in a sustainable manner; Encourage conservation improvements and measures to the existing housing stock.
Local Hazard
Mitigation Plan
City of San Mateo -
Fire
The plan focuses on the protection of the community from risks associated with disaster. Included are goals to protect community, housing stock, and economic resources. This plan overlaps with the Consolidated Plan as it identifies social vulnerability of low-income households to disasters.
Table 3 - Other local / regional / federal planning efforts Narrative
Discussions on addressing community needs remains to be the point of focus in many community discussions. The City has fostered partnerships with various stakeholders through collaboration on affordable housing projects and initiatives. The information shared during these discussions and partnerships have been incorporated into this Annual Action Plan. 28 of 11211
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AP-12 Participation - 91.401, 91.105, 91.200(c)
1. Summary of citizen participation process/Efforts made to broaden citizen participation Summarize citizen participation process and how it impacted goal-setting The City of San Mateo followed guidelines specified in its Community Participation Plan, engaging as many stakeholders as possible in setting goals and prioritizing the community's needs for the Annual Action Plan. The following actions were taken:
• October 31, 2025 - Sent notification via email to the listserv of community members signed up for Community Relations Commission events.
• November 4, 2025 – Newspaper Ad
• November 19, 2025 – Regular Meeting of the Community Relations Commission. Community Needs Assessment on the significance for the public to determine community priorities for CDBG-funded activities. • February 4, 2026 – Email to non-profit partners with event information • February 18, 2026 - Regular meeting of the Community Relations Commission for the Needs Assessment. Staff gave a brief presentation on the applications received and discussed the funding recommendations. • April 2, 2026 – Newspaper Ad.
• April 10, 2026 - Email to non-profit partners, neighborhood associations, and other community stakeholders with event information, sent notification via email to the listserv of community members signed up for Community Relations Commission events. • April 10, 2026 - City web posting, and email notification of the Annual Plan draft. • April 15, 2026 - Regular meeting of Community Relations Commission, public hearing for the draft Annual Action Plan. • May 18, 2026 - Regular meeting of the City Council for approval of the final Annual Action Plan for submission to HUD. • 30-Day Comment period – April 10th – May 10th.
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Citizen Participation Outreach
Sort Order Mode of Outreach Target of Outreach Summary of response/attendance
Summary of
comments received
Summary of comments
not accepted
and reasons
URL (If
applicable)
1 Internet Outreach
Nontargeted/broad
community
October 31, 2025.
Sent notification via
email to the listserv
of community
members signed up
for Community
Relations
Commission events.
No comments were
received.
N/A
2 Newspaper Ad
Nontargeted/broad
community
November 4, 2025,
newspaper ad.
No comments
received
3 Public Meeting
Nontargeted/broad
community
November 19, 2025.
Community members
were in attendance
for the regular
meeting of the
Community Relations
Commission.
Two comments
received during the
Community Needs
Assessment.
All comments have
been accepted.
4 Internet Outreach
Nontargeted/broad
community
February 4, 2026,
email to non-profit
organizations on
Funding
Recommendations
workshop.
No comments
received
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Sort Order Mode of Outreach Target of Outreach Summary of response/attendance
Summary of
comments received
Summary of comments
not accepted
and reasons
URL (If
applicable)
4 Public Meeting
Nontargeted/broad
community
February 18, 2026.
Several members of
the community,
representatives from
local non-profits, and
other stakeholders
were in attendance
for the special
meeting of the
Community Relations
Commission.
Comments received
to address the
needs of public
service
organizations.
All comments have
been accepted.
5 Newspaper Ad
Nontargeted/broad
community
April 2, 2026.
Newspaper Ad.
No comments
received
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Sort Order Mode of Outreach Target of Outreach Summary of response/attendance
Summary of
comments received
Summary of comments
not accepted
and reasons
URL (If
applicable)
6 Internet Outreach
Nontargeted/broad
community
April 10, 2025. Email
to non-profit
partners,
neighborhood
associations, and
other community
stakeholders with
event information,
sent notification via
email to the listserv
of community
members signed up
for Community
Relations
Commission events.
No comments
received
7 Internet Outreach
Nontargeted/broad
community
April 10, 2025. City
web posting of the
draft Annual Plan.
No comments
received
8 Public Hearing
Nontargeted/broad
community
April 15, 2026.
Regular meeting of
Community Relations
Commission, public
hearing for the draft
Annual Plan.
One comment
received from a
subrecipient
Comment has been
accepted
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Sort Order Mode of Outreach Target of Outreach Summary of response/attendance
Summary of
comments received
Summary of comments
not accepted
and reasons
URL (If
applicable)
9 Internet Outreach
Nontargeted/broad
community
May 15, 2025. Email
notification of the
Annual Plan draft
10 Public Hearing
Nontargeted/broad
community
May 18, 2026.
Regular meeting of
the City Council for
approval of Annual
Plan for submission
to HUD.
11 Comment Period
Nontargeted/broad
community
30-day comment
period from April 10,
2026, to May 10,
2026.
No comments
received
Table 4 – Citizen Participation Outreach
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Expected Resources
AP-15 Expected Resources - 91.420(b), 91.220(c)(1,2)
Introduction
During the early development of the Action Plan, the City did not yet know the exact amount of funding it would receive for 2026, so allocations were initially based on 2025 funding levels. Once HUD released the final allocation amounts, the Action Plan was updated to reflect those amounts.
Expected resources from CDBG include the City’s 2026 entitlement grant of $802,758.00. The City also anticipates utilizing $84,509 of prior year 34 of 11211
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resources, consisting of unused funds from prior year activities: minor home repair, public services, and admin activities.
Anticipated Resources
Program Source
of
Funds
Uses of Funds Expected Amount Available Year 4 Expected Amount Available Remainder of
ConPlan
$
Narrative
Annual Description
Allocation: $
Program
Income:
$
Prior Year
Resources: $
Total:
$
CDBG public
-
federal
Acquisition
Admin and
Planning
Economic
Development
Housing
Public
Improvements
Public
Services
802,758 8,000 84,509.30 895,267.30 802,758
Annual
Allocation
includes
CDBG 2026
entitlement
of $802,758.
Prior Year
Resources
includes
unspent
CDBG funds
from prior
entitlement
year (2024)
totaling to
$84,509.30.
Table 1 - Expected Resources – Priority Table
Explain how federal funds will leverage those additional resources (private, state and local funds), including a description of how matching requirements will be satisfied
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economic development, minor home repair, and capital improvements to public facilities.
While the City does not receive HOME funds directly, the City is part of a HOME consortium with the County of San Mateo, City of Redwood City, and City of South San Francisco. Jurisdictions in the consortium combined their HOME entitlements to create a larger impact on the community.
Besides the consortium, the City receives HOME loan repayments from funded projects prior to the development of the consortium. Any repayments received are added to the City’s available program income for CDBG-funded projects.
Through the State, the City receives an annual allocation of the Permanent Local Housing Allocation (PLHA) to support the City’s goal to increase affordable housing availability. This allocation has supported affordable housing projects since 2019. In 2024, the City received $293,103 in PLHA funds, and in 2025, the City received an additional $224,653. There is a continuous effort to address housing concerns, such as the limited amount of affordable housing, throughout the City.
If appropriate, describe publicly owned land or property located within the jurisdiction that may be used to address the needs identified in the plan
The City is continuing to increase the availability of affordable housing, a goal described in the 2023-31 Housing Element. There are two publiclyowned properties that will offer affordable housing in San Mateo. Kiku Crossing is located on East 4th Avenue, a former public parking lot. This property will offer 225 affordable units for families and individuals. Construction was completed in Winter of 2023, and leasing began in fall 2024; the development was fully occupied as of November 2024. Another project still in progress is Bespoke, also located a former City parking lot on South B Street. Bespoke will provide 71 units of affordable housing and a first-floor space for the nonprofit Self-Help for the Elderly in partnership with an affordable housing developer and a commercial developer. The Exclusive Negotiation Agreement (ENA) period for the City and the developer team to finalize the Development Agreement, Disposition and Development Agreement, and other key agreements to allow for this mixed-use project to be built on the City’s owned parcel and adjacent parcels was extended to April 2026. The project is set for a Planning Commission and City Council public hearing in late April and mid-May 2026.
Discussion
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Annual Goals and Objectives
AP-20 Annual Goals and Objectives - 91.420, 91.220(c)(3)&(e) Goals Summary Information
Sort
Order
Goal Name Start
Year
End
Year
Category Geographic Area Needs Addressed Funding Goal Outcome Indicator 1 Maintain & Preserve
Existing Housing
2023 2027 Affordable Housing Citywide Affordable
Housing
CDBG:
$107,000.00
Homeowner Housing
Rehabilitated: 10
Households
2 Community Funding 2023 2027 Non-Housing
Community
Development
Citywide Public Services CDBG:
$120,400.00
Public service activities
other than
Low/Moderate Income
Housing Benefit: 650
Persons Assisted
3 Street and Sidewalk
Improvements
2023 2027 Non-Housing
Community
Development
CDBG Priority
Neighborhood
Community
Development
CDBG:
$461,626.30
Public Facility or
Infrastructure Activities
other than
Low/Moderate Income
Housing Benefit: 20,000
Persons Assisted
4 Public Facilities 2023 2027 Non-Housing
Community
Development
Citywide Public Facilities
Improvements
CDBG $0 No nonprofits funded this
year.
5 Microbusiness
Assistance
2023 2027 Economic
Development
Citywide Economic
Development
CDBG:
$80,000.00
Businesses assisted: 58
Businesses Assisted
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Sort
Order
Goal Name Start
Year
End
Year
Category Geographic Area Needs Addressed Funding Goal Outcome Indicator 6 AFFH: Adjust City's
BMR Program
2023 2024 Affordable Housing Citywide Lack of Affordable Housing in
Opportunity
Areas
7 AFFH: Down Payment
Assistance Program
2023 2031 Accessible
Homeownership
Citywide Historic
Discrimination
and Mortgage
Denials
8 AFFH: Forgivable
Loans for ADUs
2025 2026 Affordable Housing
Increased Housing
Supply and
Affordable Housing
Citywide Low-income
Rentals in Low
Opportunity
Tracts
9 AFFH: Affirmatively
Market City Housing
2023 2031 Affordable Housing Citywide Lack of Affordable Housing in
Opportunity
Areas
10 AFFH: Prioritize
Funding for
Affordable Housing
2027 2028 Affordable Housing Citywide Lack of Affordable Housing in
Opportunity
Areas
11 AFFH: Incentivize
Developers
2023 2031 Affordable Housing Citywide Lack of Affordable Housing in
Opportunity
Areas
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Sort
Order
Goal Name Start
Year
End
Year
Category Geographic Area Needs Addressed Funding Goal Outcome Indicator 12 AFFH: Conduct an
Area Plan for
Neighborhoods
2023 2031 Land Use resources Citywide Lack of Affordable Housing in
Opportunity
Areas
Low-income
Rentals in Low
Opportunity
Tracts
13 AFFH: Preference
Home Repairs in LMI
Census Tracts
2023 2031 Financial resources Citywide Disparities in
Access to
Opportunity
14 AFFH: Monitor
Affordable Housing
2023 2031 Affordable Housing Citywide Historic
Discrimination
and Mortgage
Denials
Low-income
Rentals in Low
Opportunity
Tracts
15 AFFH: Expand Tenant
Protections
2023 2026 Displacement risk Citywide Disparities in
Access to
Opportunity
16 AFFH: Fair Housing
Training for
Landlords/Tenants
2023 2027 Equal opportunity
housing
Citywide Fair Housing
Issues
CDBG:
$26,241
Other: 66 Other
17 AFFH: Create a Fair
Housing Webpage
2024 2031 Equal opportunity
housing
Citywide Fair Housing
Issues
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Sort
Order
Goal Name Start
Year
End
Year
Category Geographic Area Needs Addressed Funding Goal Outcome Indicator 18 AFFH: Ensure
Properties Explain
Accommodations
2024 2026 Equal opportunity
housing
Citywide Disparities in
Access to
Opportunity
Fair Housing
Issues
19 AFFH Goal: Prevent
Displacement
2023 2031 Affordable Housing Citywide Low-income
Rentals in Low
Opportunity
Tracts
Table 2 – Goals Summary
Goal Descriptions
1 Goal Name Maintain & Preserve Existing Housing
Goal
Description
Provide funds to preserve, repair, and maintain existing housing stock. Emphasis on repairs that clear health and safety issues, retrofits to homes for more sustainability and energy efficiency, and make properties more accessible for individuals with special needs.
This is the fourth year of the 2023 Consolidated Plan, and the outcome will be a part of the larger goal for the entire Consolidated Plan period of 2023-2027.
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2 Goal Name Community Funding
Goal
Description
Provide grants to non-profit organizations for provision of public services to low- and moderate-income individuals, families, and businesses in San Mateo.
This is the fourth year of the 2023 Consolidated Plan, and the outcome below will be a part of the larger goal for the entire Consolidated Plan period of 2023-2027.
3 Goal Name Street and Sidewalk Improvements
Goal
Description
Repair deteriorated streets, as well as provide accessibility and public safety improvements to streets and sidewalks for pedestrians, bicycles and autos in the CDBG Priority Neighborhood.
This is the fourth year of the 2023 Consolidated Plan, and the outcome below will be a part of the larger goal for the entire Consolidated Plan period of 2023-2027.
4 Goal Name Public Facilities
Goal
Description
Provide funds for repairs and health/safety measures to be completed at buildings used by non-profit agencies for provision of public services.
This is the fourth year of the 2023 Consolidated Plan, and the outcome below will be a part of the larger goal for the entire Consolidated Plan period of 2023-2027.
5 Goal Name Microbusiness Assistance
Goal
Description
Provide grants to non-profit service providers who assist low- and moderate-income residents who own or are attempting to start a small business.
This is the fourth year of the 2023 Consolidated Plan, and the outcome below will be a part of the larger goal for the entire Consolidated Plan period of 2023-2027.
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6 Goal Name AFFH: Adjust City's BMR Program
Goal
Description
Adjust the city’s Below Market Rate (inclusionary) program to provide larger density bonuses, and/or increased city support in exchange for affordable units that address the needs of residents with disproportionate housing needs (e.g., accessible/ visitable units for persons with disabilities, child-friendly developments with day care on site for single parents, and 3-4 bedroom units for larger families.
Contributing factors to be addressed:
• Accessibility, development of affordable units.
Fair housing issues/impediments:
• Disproportionate housing needs;
• Displacement due to rent increases for Spanish speaking and large households; • Lack of accessible housing for persons with disabilities; and • Limited housing for families.
Metrics and milestones:
• Perform feasibility analysis to redesign the program to allow a menu of options. Ensure analysis includes review of housing for households with disproportionate needs, along with income levels.
Timeframe for achievement:
• Complete feasibility analysis by Fall 2023.
Implement redesigned program by Spring 2024.
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7 Goal Name AFFH: Down Payment Assistance Program
Goal
Description
Participate in a regional downpayment assistance program with affirmative marketing to households with disproportionate housing needs including disabilities, single parents, and Hispanic households (e.g. Spanish and English, targeted to northeast neighborhoods).
Contributing factors to be addressed:
• Inaccessible homeownership due to financial barriers. • Lack of support for affordable housing, creating barriers to approval.
Fair housing issues/impediments:
• Disproportionate housing needs.
Metrics and milestones:
• Affirmatively market down payment assistance to 20 Hispanic households; • Provide homebuyer education to 200 households;
• Work with other jurisdictions to conduct outreach and education; and • Ensure programs affirmatively market to impacted neighborhoods, including North Central and North Shoreview.
Timeframe for achievement:
Meet quantified objectives by end of Housing Element period in 2031; Conduct homebuyer/ outreach and education quarterly in partnership with HEART (Housing Endowment and Regional Trust of San Mateo County). 43 of 11211
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8 Goal Name AFFH: Forgivable Loans for ADUs
Goal
Description
Support the design of a regional forgivable loan program for homeowners to construct an ADU that is held affordable for extremely low income households for 15 years.
Contributing factors to be addressed:
• Lack of affordable housing in high opportunity areas. • Lack of accessible, affordable units.
Fair housing issues/impediments:
• Disparities in access to opportunities.
Metrics and milestones:
• Design regional loan forgiveness program.
• Target those with disproportionate housing needs with affirmative marketing with goal to reach five households annually.
Timeframe for achievement:
Begin design in summer 2025; complete by winter 2026.
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9 Goal Name AFFH: Affirmatively Market City Housing
Goal
Description
Add more city supported housing with affordability restrictions in moderate and high resource areas. Affirmatively market the housing to households with disproportionate housing needs including persons with disabilities, single parents, and Hispanic households (e.g., Spanish and English, targeted to northeast neighborhoods).
Contributing factors to be addressed:
• Lack of affordable housing supply;
• Lack of accessible affordable units; and
• Concentration of naturally occurring affordable housing in low opportunity census tracts.
Fair housing issues/impediments:
• Disproportionate housing needs.
• Lack of accessible housing for persons with disabilities.
Metrics and milestones:
• Require developers to affirmatively market 1,000 units to those with disproportionate housing needs over the eight-year period (approximately 125 annually).
• Continue to update housing inventory.
Timeframe for achievement:
2031 (annually); as development projects come in for approvals/ financing. 45 of 11211
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10 Goal Name AFFH: Prioritize Funding for Affordable Housing Goal
Description
Prioritize city funding proposals for city funded affordable housing that are committed to serving hard to serve residents (e.g. extremely low income, special needs, on site services).
Contributing factors to be addressed:
• Lack of accessible affordable housing;
• Lack of affordable housing supply; and
• High housing costs.
Fair housing issues/impediments:
• Disproportionate housing needs;
• Displacement due to rent increases; and
• Disparities in access to opportunity.
Metrics and milestones:
• Conduct a review of best practices and develop a program to prioritize City funding for housing projects.
Timeframe for achievement:
• 2027 to 2028: conduct a review of best practices.
Develop a draft program for City Council adoption.
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11 Goal Name AFFH: Incentivize Developers
Goal
Description
Incentivize developers through direct subsidies, fee waivers, and/ or density bonuses to increase accessibility requirements beyond the federal requirement of 5% for subsidized developments.
Contributing factors to be addressed:
• Lack of access to opportunity concentrated in some census tracts. • Lack of accessible housing.
Fair housing issues/impediments:
• Persons with disabilities have disproportionate housing needs. • Persons with disabilities and persons of color are most likely to file fair housing complains with HUD.
Metrics and milestones:
• Update development agreements for projects with City subsidies to include additional accessible units. • Update City’s Inclusionary Housing Policy to require projects that receive City subsidies to increase the percentage of units that meet accessibility requirements.
Timeframe for achievement:
• 2023-2031: (ongoing) as development opportunities come available; • 2025-2026: Draft Update Inclusionary Housing Policy; and Review developer agreements as projects come in annually. 47 of 11211
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12 Goal Name AFFH: Conduct an Area Plan for Neighborhoods Goal
Description
As part of the General Plan, conduct an area plan for the North Shoreview and North Central neighborhoods and prioritize land use and design around Highway 101 to improve access and reduce the division of the urban form produced by the highway.
Contributing factors to be addressed:
• Lack of affordable housing in high opportunity areas; • Lack of accessible affordable units; and
• Concentration of NOAH in low opportunity census tracts.
Fair housing issues/impediments:
• Segregation and integration patterns among Hispanic and female parent households. • Disparities in access to opportunities.
Metrics and milestones:
• Prepare an area plan with goal of reducing overcrowding, improving health, safety and mobility and access to services.
Timeframe for achievement:
Create plan through the General Plan Update Implementation process. 48 of 11211
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13 Goal Name AFFH: Preference Home Repairs in LMI Census Tracts Goal
Description
Continue to fund minor home repairs and implement a preference for projects in low opportunity census tracts identified in the analysis.
Contributing factors to be addressed:
• Loss of affordable housing in high opportunity areas. • Lack of accessible affordable housing.
Fair housing issues/impediments:
• Disproportionate housing needs.
• Disparities in access to opportunity.
Metrics and milestones:
• Annual goal of 10 minor home repairs and 14 accessibility modifications through grants for low-income residents.
• Allow accessibility improvements on rental properties with owner permission.
Timeframe for achievement:
2023-2031.
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14 Goal Name AFFH: Monitor Affordable Housing
Goal
Description
Monitor affordable housing projects that are at risk of conversion to market rate. Support regional and local efforts to examine displacement of affordable housing and lower income households. Assist with the retention of special needs housing that is at risk of expiring affordability requirements.
Contributing factors to be addressed:
• Historic discrimination and continued mortgage denials. • Concentration in low opportunity census tracts.
• High housing costs that outpace wages.
Fair housing issues/impediments:
• Hispanic households have disproportionate housing needs. • Limited affordable housing for families.
Metrics and milestones:
• Monitor affordable units whose subsidies are set to expire (ex. Bridgepointe Condominiums affordability requirements for 59 units expire in 2027 and Belmont Building 6 units set to expire); • Coordinate with owners to preserve low-income units as affordable at least two years prior to expiration date; • Provide tenant outreach and education;
• Add displacement preference for new affordable housing; and • Provide noticing to tenants and affected public entities regarding expiring affordability.
Timeframe for achievement:
2025- 2027: to address Bridgepointe Condominiums; 2030- 2032: to address Belmont Building 50 of 11211
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15 Goal Name AFFH: Expand Tenant Protections
Goal
Description
Establish tenant protections in local ordinance to extend measure of AB1482 related to relocation, documentation, and right to return policy in eviction cases.
Contributing factors to be addressed:
• Persons with disabilities have disproportionate housing needs; • Persons with disabilities and persons of color are most likely to file fair housing complaints with HUD; and • Hispanic households have disproportionate housing needs.
Fair housing issues/impediments:
• Lack of accessible affordable units;
• Lack of access to economic opportunity;
• Concentration in low income and low opportunity census tracts; • Historic discrimination and continued mortgage denials; and • High housing costs that have outpaced wages.
Metrics and milestones:
• Extend AB1842 provisions that require tenant relocation payments for No Fault evictions for those with tenure less than one year;
• Make recommendations to the City council for establishing tenant protection policies that include the requirement of documentation from landlords who use the substantial remodel exemption to evict tenants and a Right to Return policy for tenants displaced from homes due to demolition or substantial remodels; and • Amend the code to strengthen enforcement penalty structure to aid in protecting tenants from unsafe or substandard units.
Timeframe for achievement:
2023-2026.
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16 Goal Name AFFH: Fair Housing Training for Landlords/Tenants Goal
Description
Partner with Project Sentinel to perform fair housing training for landlords and tenants. Focus on enforcement efforts on
race-based discrimination and reasonable accommodations.
Contributing factors to be addressed:
• Lack of accessible affordable units;
• Lack of access to opportunity;
• Concentration in low income and low opportunity census tracts; and • Lack of understanding of reasonable accommodation requirements by landlords and property owners.
Fair housing issues/impediments:
• Persons with disabilities have disproportionate housing needs. • Persons with disabilities and persons of color are most likely to file fair housing complaints with HUD.
Metrics and milestones:
• Provide annual funding to Project Sentinel to provide training every two years in the Spring, targeting 200 landlords each training.
• Outreach programs to landlords
Timeframe for achievement:
Annually as part of CDBG allocation in the spring.
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17 Goal Name AFFH: Create a Fair Housing Webpage
Goal
Description
Create a webpage specific to fair housing including resources for residents who feel they have experienced discrimination, information about filing fair housing complaints with HCD or HUD, and information about protected classes under the Fair Housing Act.
Contributing factors to be addressed:
• Lack of accessible affordable units;
• Lack of access to economic opportunity;
• Concentration of low income and low opportunity tracts; and • Lack of understanding of reasonable accommodation requirements by landlords and property owners.
Fair Housing Issues/ Impediments
• Persons with disabilities have disproportionate housing needs. • Persons with disabilities and persons of color are most likely to file fair housing complaints with HUD.
Metrics and Milestones:
• Provide information on City website about housing discrimination, laws, and protections. • Update webpage every two years, along with other transparency updates.
Timeline
2024 and update bi-annually thereafter.
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18 Goal Name AFFH: Ensure Properties Explain Accommodations Goal
Description
Ensure that all multifamily residential developments contain signage to explain the right to request reasonable accommodations for persons with disabilities. Make this information available and clearly transparent on the city’s website and fund landlord training and outreach on reasonable accommodations.
Contributing factors to be addressed:
• Lack of accessible affordable units;
• Lack of access to economic opportunity;
• Concentration of low income and low opportunity tracts; and • Lack of understanding of reasonable accommodation requirements by landlords and property owners.
Fair Housing Issues/ Impediments:
• Persons with disabilities have disproportionate housing needs. • Persons with disabilities and persons of color are most likely to file fair housing complaints with HUD.
Metrics and Milestones:
• Create ongoing condition of approval to ensure both below market rate and all affordable developments contain this information.
• Explore options for recording against the property and/ or including in the affordable housing agreement.
Timeline:
• Create ongoing conditions of approval by fall 2024.
Conduct best practices review on options to record reasonable accommodation language by January 2025 and implement a program by January 2026.
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19 Goal Name AFFH Goal: Prevent Displacement
Goal
Description
Ensure that future improvements in disadvantaged communities will not produce a net loss of affordable housing or the displacement of residents and seek to increase the amount of affordable housing in disadvantaged communities.
Contributing factors to be addressed:
• Lack of accessible affordable units;
• Lack of access to economic opportunity;
• Concentration of low income and low opportunity tracts; and • Lack of investment in older housing stock.
Fair Housing Issues/ Impediments:
• Persons with disabilities and persons of color have disproportionate housing needs Metrics and Milestones:
• In collaboration with nonprofit and for-profit housing developers, study the feasibility of collaborating with the Northern California Land Trust, or establishing a new community land trust that will support long-term community ownership and housing affordability in disadvantaged communities. Implement findings as part of the General Plan Update
Timeline:
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AP-35 Projects - 91.420, 91.220(d)
Introduction
Activities planned for 2026 are similar to those from recent years. The City will continue to use CDBG administration funds for fair housing activities, public services for grants to non-profit public service agencies, and the remainder of CDBG funds for minor home repair programs, microbusiness assistance, and street and sidewalks improvements.
# Project Name
1 Community Funding Program
2 Minor Home Repair Program
3 CDBG Admin
4 Microbusiness Assistance
5 Street and Sidewalk Improvements
Table 3 – Project Information
Describe the reasons for allocation priorities and any obstacles to addressing underserved needs
The City of San Mateo prioritized projects addressing low- and moderate-income housing and community development needs within targeted areas. The CDBG funding will fund a total of five projects totaling $802,758 and as identified in the Anticipated Resources table. The projects include eligible activities such as housing activities, public services, economic development, minor home repair, and administration, planning and fair housing. The program or project activity has to be eligible under HUD rules and meet the goals of the Consolidated Plan.
An obstacle the City faces in addressing most community needs is available funding. The high cost of housing, limited resources, and an increase demand for social and supportive services are undeserved needs that need to be addressed. The City continues to partner with local nonprofits to coordinate resources to service those most in need.
The City, in partnership with non-profit organizations and county agencies, will undertake numerous programs and activities to meet the five identified priorities of the Consolidated Plan and Annual Action Plan during program year 2026 (2026-2027). The timeline for the completion of most of these projects and programs is June 30, 2027.
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AP-38 Project Summary
Project Summary Information
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1 Project Name Community Funding Program
Target Area Citywide
Goals Supported Community Funding
Needs Addressed Public Services
Funding CDBG: $120,400.00
Description Provide $120,400 in funds to non-profit agencies to provide public services for the core service priorities including basic human needs, senior services, youth services, and providing affordable housing.
Target Date 6/30/2027
Estimate the number
and type of families
that will benefit from
the proposed activities
Project will only serve low- and moderate-income individuals and families, as well as those from presumed benefit groups such as abused children, victims of domestic violence, elderly individuals, and homeless individuals. Based on reports from prior years, the project will serve 650 San Mateo residents.
Location Description Project will serve the community members citywide. 58 of 11211
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Planned Activities Project provides funds to non-profit agency sub-recipients to carry out public service programs. Agencies interface with a variety of departments within the City including police, housing, and code enforcement on a regular basis to further their efforts in the community. The City anticipates funding seven sub-recipients evenly with available funding. In addition, the City is funding an economic development program outside of the public services cap. The awards for this year are as follows:
CORA: providing survivors of domestic violence and their children with legal services. Goal is to serve 100 individuals.
Friends for Youth: provide mentoring relationships and support services to underserved, vulnerable youth. Goal is to serve 260 individuals.
Legal Aid Society of San Mateo County: legal services to households in danger of eviction and/or living in substandard conditions. Goal is to serve 113 clients.
Life Moves: provide shelter and supportive services to assist homeless individuals to return to self- sufficiency at the First Step for Families facility which includes 117 beds. Goal is to serve 54 clients Rape Trauma Services: provides mental health services to address the multiple healing needs of child survivors of sexual violence. Goal is to serve 85 clients.
Samaritan House-Core Services Program: provides a broad spectrum of assistance, including case management, emergency assistance - food, clothing, shelter, healthcare - as well as financial assistance and empowerment services. Goal is to serve 250 individuals.
Samaritan House-Safe Harbor Shelter: provides short-term, emergency supportive services. Goal is to serve 40 individuals.
2 Project Name Minor Home Repair Program
Target Area Citywide
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Goals Supported Maintain & Preserve Existing Housing
Needs Addressed Affordable Housing
Funding CDBG: $107,000.00
Description Provides funding to non-profit agencies to provide minor repairs, accessibility modifications, and energy efficiency measures to income eligible homeowners.
Target Date 6/30/2027
Estimate the number
and type of families
that will benefit from
the proposed activities
Project will assist 10 households with repairs and energy improvements.
Location Description Project will only apply to homes located in the City of San Mateo.
Planned Activities Project will provide grants to sub-recipients for programs to complete minor rehabilitation, energy improvements, and accessibility improvements to low- and moderate-income homeowners. Two grants will be provided as follows:
• Rebuilding Together Peninsula: Safe at Home program provides minor home repairs including health and safety measures, emergency electrical and plumbing, etc. Goal is to serve 6 households.
• Rebuilding Together Peninsula: National Rebuilding Day provides larger scale rehabilitation of homes in conjunction with volunteers and many other funding sources. Goal is to serve 4 households.
3 Project Name CDBG Admin
Target Area Citywide
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Goals Supported Maintain & Preserve Existing Housing
Community Funding
Street and Sidewalk Improvements
Public Facilities
Microbusiness Assistance
AFFH: Adjust City's BMR Program
AFFH: Down Payment Assistance Program
AFFH: Forgivable Loans for ADUs
AFFH: Affirmatively Market City Housing
AFFH: Prioritize Funding for Affordable Housing
AFFH: Incentivize Developers
AFFH: Conduct an Area Plan for Neighborhoods
AFFH: Preference Home Repairs in LMI Census Tracts
AFFH: Monitor Affordable Housing
AFFH: Expand Tenant Protections
AFFH: Fair Housing Training for Landlords/Tenants
AFFH: Create a Fair Housing Webpage
AFFH: Ensure Properties Explain Accommodations
AFFH Goal: Prevent Displacement
Needs Addressed Affordable Housing
Public Services
Community Development
Public Facilities Improvements
Economic Development
Lack of Affordable Housing in Opportunity Areas
Historic Discrimination and Mortgage Denials
Low-income Rentals in Low Opportunity Tracts
Disparities in Access to Opportunity
Fair Housing Issues
Funding CDBG: $126,241
Description Provide funds for staff and overhead to administer the CDBG grant. The City will also provide a $26,241 grant to an agency for provision of Fair Housing services to come from admin.
Target Date 6/30/2027
Estimate the number
and type of families
that will benefit from
the proposed activities
The fair housing grant will serve approximately 66 households. 61 of 11211
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Location Description Project will take place in City of San Mateo.
Planned Activities Administrative costs for management of the CDBG program. In addition, the City will provide funds to Project Sentinel for the provision of fair housing activities.
4 Project Name Microbusiness Assistance
Target Area Citywide
Goals Supported Microbusiness Assistance
Needs Addressed Economic Development
Funding CDBG: $80,000.00
Description Two microbusiness assistance grants of $40,000 will be provided to Renaissance Entrepreneurship Center and Upwards. The funds under this activity will not be counted under the public service cap as they are a microbusiness assistance program for economic development.
Target Date 6/30/2027
Estimate the number
and type of families
that will benefit from
the proposed activities
The microbusiness assistance program will serve 68 businesses.
Location Description Project will serve low-income business owners in the city of San Mateo.
Planned Activities Renaissance Entrepreneurship Center: will deliver customized small business training, one-on-one consulting, and access to capital, resources, markets, and networks to assist lower-income and underresourced residents who are starting and growing sustainable small businesses. All services will be delivered in English and Spanish. Goal is to serve 60 businesses.
Upwards: equip LMI microenterprise in-home childcare providers with personalized coaching and digital tools to optimize operations and revenue, enabling them to efficiently manage and grow their business, create local teaching assistant jobs, and expand access to quality affordable care for working families in the community. Goal is to serve 8 childcare providers.
5 Project Name Street and Sidewalk Improvements
Target Area CDBG Priority Neighborhood
Goals Supported Street and Sidewalk Improvements
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2026
54 OMB Control No: 2506-0117 (exp. 09/30/2021)
Needs Addressed Community Development
Funding CDBG: $461,626.30
Description Funding to make pedestrian-type improvements on damaged streets and sidewalks, and to include safety enhancements (crosswalks, curb ramps, etc.) where feasible.
Target Date 6/30/2027
Estimate the number
and type of families
that will benefit from
the proposed activities
Project will be completed in the CDBG Priority Neighborhood, which has approximately 20,000 residents.
Location Description Project will be completed in the CDBG Priority Neighborhood.
Planned Activities Funds will be used to make pedestrian-type improvements within the CDBG Priority Neighborhood near senior facilities and at critical intersections.
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2026
55 OMB Control No: 2506-0117 (exp. 09/30/2021)
AP-50 Geographic Distribution - 91.420, 91.220(f)
Description of the geographic areas of the entitlement (including areas of low-income and minority concentration) where assistance will be directed The City of San Mateo provides a number of programs that assist low-income individuals and households based and therefore may be located anywhere within the city limits of San Mateo. In addition, the City has identified a CDBG Priority Neighborhood by utilizing the low-income definitions provided by HUD. This area includes census tracts or block groups with at least 51% of the persons considered low-income as reported in the Census and includes North Central, North Shoreview and South Norfolk neighborhoods.
Geographic Distribution
Target Area Percentage of Funds
CDBG Priority Neighborhood 46
Citywide 54
Table 4 - Geographic Distribution
Rationale for the priorities for allocating investments geographically The CDBG Priority Neighborhood has a number of contributing factors to its designation, especially as compared to other neighborhoods in San Mateo:
• Lowest median income and high percentage of families below the poverty level • Deteriorating conditions, including high degree of dumping and graffiti • High percentage of overcrowding, including streets/traffic and housing • Older, deteriorating housing stock
Discussion
The City will provide programs and services identified in this Plan to households with the greatest need. 64 of 11211
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2026
56 OMB Control No: 2506-0117 (exp. 09/30/2021)
AP-75 Barriers to affordable housing -91.420, 91.220(j) Introduction
The City continues to increase the availability of affordable housing using available resources. Through the City’s 2023-31 Housing Element, the City committed to develop goals and implement policies and programs to meet the state-mandated goal of 7,015 total new housing units over the eight-year timeframe. Within the 7,015 new housing units, 3,975 must be deemed affordable for moderate or lower-income households. As of 2025, 84 building permits were issued for affordable housing units (moderate to very low), and 56 affordable housing units received its Certificate of Occupancy.
The most recent development project that the City is currently moving forward is a collaboration with an affordable housing developer, Alta Housing and commercial developer Harvest Properties/Prometheus, on the “Bespoke” mixed-use development. Bespoke combines commercial and residential components, including a 71-unit affordable housing development, all located on a Cityowned parking lot on 4th Avenue and B Street and adjacent sites with a shared underground parking garage. As of early 2026, the City is working to finalize the Development Agreement, Disposition and Development Agreement, and other key agreements to allow for this mixed-use project to be built on the City’s owned parcel and adjacent parcels. The project is set for a Planning Commission and City Council public hearing in late April and mid-May 2026.
Actions it planned to remove or ameliorate the negative effects of public policies that serve as barriers to affordable housing such as land use controls, tax policies affecting land, zoning ordinances, building codes, fees and charges, growth limitations, and policies affecting the return on residential investment
The City is committed to using all available tools to increase the availability of affordable housing. In just the last year, the City has undertaken significant policy efforts under the 2023-31 Housing Element to streamline the approval process for residential developments. This includes:
• Zoning Code Amendments – In 2025, the City Council adopted two ordinances to make amendments to the Zoning Code to allow various types of housing and streamline the development review process.
• Below Market Rate Ordinance – In June 2025, the Below Market Rate (BMR) Ordinance was updated to allow for offsite units or developer-proposed alternatives to provide more flexibility for developers and incorporate BMR-units to their developments.
Discussion
The City continues to work towards meeting their committed goals, policies, and programs listed in the 2023-2031 Housing Element. In an effort to remove barriers that impact the access to affordable 65 of 11211
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housing, the City will continue to work on the Housing Element’s goals anticipated for 2026:
• Update the City’s existing Inclusionary Housing Policy to increase the development of accessible units.
• Conduct best practices research on prioritization of households with special needs, extremely low-income households and large families.
• Conduct a study to determine whether the City should update the zoning ordinance and other policies to continue supporting the production of affordable housing sites. In addition to permanently require replacement of units (beyond Housing Crisis Act sunset date of 2034). • Review permitting and development fees to use information to identify opportunities to reduce per unit permitting costs; with fee reductions for small multi-family projects being prioritized. 66 of 11211
Annual Action Plan
2026
58 OMB Control No: 2506-0117 (exp. 09/30/2021)
AP-85 Other Actions - 91.420, 91.220(k)
Introduction
The City develops and carries out strategies on either a policy-level or building partnerships with community agencies in effort to reduce obstacles to meet underserved needs. Most of these strategies include collaborations with non-profit organizations to increase the provision of direct services through available Federal or State funding. Meanwhile financial resources remain limited; the City explores various methods by utilizing different funding sources to continue the efforts in developing or preserving affordable housing. Policy-level strategies include updating implementing programs such as the Emergency Rental Assistance Program to assist low-income tenants with temporary rental assistance to prevent from being evicted.
Actions planned to address obstacles to meeting underserved needs The combination of the rising cost of living in the San Francisco Bay Area and the continued funding restrictions has resulted in being the primary obstacles to address community needs. To better understand the needs of underserved communities and build strategies to address those needs, the City’s Community Relations Commission conducts an annual community needs assessment as the first step in developing the Annual Action Plan. This assessment provides community members the opportunity to address any needs or obstacles that may be present in their community. A second workshop is held to make CDBG funding recommendations to address the same needs and obstacles that were share during the community needs assessment. This strategy is efficient in increasing the number of unduplicated services available while still being cost-effective.
In terms of funding, the City’s Community Funding program is primarily funded by CDBG. This program allows the City to build partnerships with local nonprofit service providers who in turn provide basic needs services (food, shelter, clothing, etc.) for residents most in need, in addition to case management, legal services and advocacy, and small business support, all of which are in high demand and foster community stability. The City also funds certain programs through its General Fund and other housing funds to maximize the number of services available to underserved communities not funded by the Community Funding program.
Actions planned to foster and maintain affordable housing The City is maintaining its effort to preserve and develop affordable housing by fostering partnerships with local nonprofit organizations and jurisdictions. An example of preserving affordable housing units is monitoring the City’s affordable housing inventory to keep track of expiring deed restrictions and work with property owners in advance to begin the renewal process. While the development of affordable housing is essential to address availability concerns, preservation plays a large role in increasing the affordable housing inventory. Therefore, preservation is listed as one of the five main goals in the City’s 67 of 11211
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2026
59 OMB Control No: 2506-0117 (exp. 09/30/2021)
2023-2031 Housing Element:
• Production of new housing at all income levels, with a focus on affordable housing; • Preservation of existing housing that is affordable to lower- and middle-income residents; • Protection of current residents to prevent displacement; • Promotion of community engagement and public outreach; and • Affirmatively Furthering Fair Housing.
While funding remains limited, the City has multiple local funding sources that support preservation and development efforts for affordable housing. The City continues to strategically use “boomerang” funds:
proportion of property taxes previously set aside for housing in former Redevelopment Areas. In addition to “boomerang” funds, the City also collects repayments from loans made by the former Redevelopment Agency and the City that are re-allocated for housing. In-lieu fees are also collected from development projects of 5-10 units or require providing a fraction of BMR units. Lastly, the City collects Commercial Linkage Fees from commercial developments of over 5,000 square feet. Through these three funding sources, new construction of affordable housing and preservation are supported.
To support the further development of affordable housing, the City has implemented an inclusionary Below Market Rate Program that sets the requirement for development of new market rate housing (rental or for-sale) to set aside 15% of the units to be affordable to either lower-income or moderateincome households. The Below Market Rate Program has successfully supplied a quarter of all the affordable housing units in the City. In addition, the City implemented an Accessory Dwelling Unit (ADU) program to facilitate the permitting process for ADU developments and support the growing affordable housing inventory.
Actions planned to reduce lead-based paint hazards
The City has policies and procedures in place to determine any lead-based paint hazards in programs funded with CDBG and HOME funds. These lead hazard and home safety policies and procedures are consistent with California Department of Housing and Community Development (HCD) and HUD requirements and were last updated in September 2024 for minor home repair projects. Specifically for minor home repair or public facilities improvement projects, environmental review procedures are conducted prior to the start of a project to identify and resolve any lead-based paint hazards in the proximity of the project. Enforcing these requirements consist of the City working closely with subrecipients of minor home repair programs in monitoring that these policies are being followed prior to the start of a minor home repair project through trainings and technical assistance. Additionally, lowincome homeowners who enroll in a minor home repair program receive outreach on lead hazards, noticing requirements, and testing. For public facilities improvement projects, the same policies are 68 of 11211
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enforced.
Actions planned to reduce the number of poverty-level families The Community Funding Program is a funding source administered by the City that focuses on addressing community needs. This funding source is primarily funded through CDBG entitlement funds under the public services cap. Grants are disbursed to local non-profits who provide public services that support poverty-level families become self-sufficient. Programs funded through the Community Funding Program have been successful in providing poverty-level families with basic needs services, resources to gain financial empowerment, and housing-related services. Aside from the Community Funding Program, the City continues to utilize additional funding sources to increase the likelihood of underserved households of becoming more self-sufficient with the necessary tools and resources.
Actions planned to develop institutional structure
To continue the further development of institutional structure, the City is part of a very coordinated and structured CDBG Cohort group that’s led by the County. In this cohort, participating jurisdictions within the San Mateo County are part of this group. This CDBG Cohort group has been successful in streamlining the management of our CDBG entitlement to ensure subrecipients are administered similarly.
Actions planned to enhance coordination between public and private housing and social service agencies
The City collaborates with housing and community development partners through a multi-jurisdictional network consisting of the CoC, CDBG Cohort, and 21 Elements, all which supports the City’s efforts to meet goals listed in the Consolidated Plan. In addition to the City’s partnerships with regional organizations/collaboratives, the City also collaborates with public and private housing agencies to increase the progress of new Below Market Rate units and affordable housing developments. The ongoing collaboration with public and private housing agencies have been successful in the ongoing Bespoke project.
Discussion
Housing Preferences and Distribution
The City performed a fair housing assessment for the development of the 2023-2031 Housing Element, which identified many factors that limit the accessibility of housing for many San Mateo residents. For this reason, Affirmatively Furthering Fair Housing (AFFH) goals were incorporated into the 2023-2027 Consolidated Plan to maintain consistency in the City’s goals to address housing issues and discrimination. The City annually leverages federal funds to provide funding for a fair housing agency, Project Sentinel, to provide education and neutral mediation against housing discrimination, disputes, and eviction threats. Additionally, efforts to provide education to both tenants and housing providers has been facilitated through community workshops and through the City’s website. In 2025, staff has 69 of 11211
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implemented programs and ordinances to increase tenant protections as listed in the Housing Element. 70 of 11211
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Program Specific Requirements
AP-90 Program Specific Requirements - 91.420, 91.220(l)(1,2,4) Introduction
For program year 2026-2027, the City of San Mateo will receive an amount of $802,758 in CDBG funding. These resources will be used to address housing, public service and other priority needs as identified in the Consolidated Plan. Funding will primarily support activities aligned with the City’s strategic goals to benefit low-and moderate- income populations including expanding access to affordable housing, which will help reduce housing costs and provide financial assistance. Public service activities will focus on addressing issues such as homelessness, youth services and domestic violence.
Funding received will help to sustain and improve existing housing with the Home Repair Program, including minor repairs and accessibility modifications. These program requirements will help to ensure safe and livable communities.
Community Development Block Grant Program (CDBG)
Reference 24 CFR 91.220(l)(1)
Projects planned with all CDBG funds expected to be available during the year are identified in the Projects Table. The following identifies program income that is available for use that is included in projects to be carried out.
1. The total amount of program income that will have been received before the start of the next program year and that has not yet been reprogrammed 0
2. The amount of proceeds from section 108 loan guarantees that will be used during the year to address the priority needs and specific objectives identified in the grantee's strategic plan. 0
3. The amount of surplus funds from urban renewal settlements 0
4. The amount of any grant funds returned to the line of credit for which the planned use has not been included in a prior statement or plan 0
5. The amount of income from float-funded activities 0
Total Program Income: 0
Other CDBG Requirements
1. The amount of urgent need activities 0
2. The estimated percentage of CDBG funds that will be used for activities that benefit persons of low and moderate income. Overall Benefit - A consecutive period of one, two or three years may be used to determine that a minimum overall benefit of 70% of CDBG funds is used to benefit persons of low and moderate income. Specify the years covered that include this Annual Action Plan. 100.00% Discussion
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Annual Action Plan
2026
63 OMB Control No: 2506-0117 (exp. 09/30/2021)
The City utilizes 100% of its CDBG funds for eligible activities that assist low- and moderate-income households through direct services as well as improvements to the CDBG Priority Neighborhoods.
The CDBG grant funds plus annual program income from loan repayments are consistently allocated and spent in a timely manner to maximize assistance to the community.
The three-year period for calculating CDBG benefit is 2024, 2025, and 2026. 72 of 11211
CITY OF SAN MATEO
CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 6 Section Name: CONSENT CALENDAR Account Number: 72-4671 File ID: 26-11100 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: Public Works Department
MEETING DATE: May 18, 2026
SUBJECT:
Wastewater Treatment Plant Immediate Actions Projects Package-III —Appropriation and Contingency Increase RECOMMENDATION:
Adopt a Resolution to appropriate $1,200,000 from the Sewer Fund unassigned fund balance to the Wastewater Treatment Plant Immediate Actions Projects (IAP) Package-III project; increase the contingency reserve by $1,200,000 for the associated construction contract with Mountain Cascade, Inc.; and authorize the Public Works Director to issue change orders within the increased contingency.
BACKGROUND:
The City is currently under a Regional Water Quality Control Board Cease and Desist Order requiring improvements to its sewer collection system and Wastewater Treatment Plant (WWTP) to eliminate sanitary sewer overflows and unauthorized discharges of untreated or partially treated wastewater to San Francisco Bay. The Clean Water Program (CWP) includes several capital improvement projects that are currently under construction to support the City’s compliance with the Cease and Desist Order.
The WWTP Immediate Actions Projects Package-III (IAP-III) project is a component of the CWP and includes improvements to the WWTP’s effluent pump station, site waste pump station, and plant-wide mechanical and electrical equipment, as well as replacement of effluent flowmeters and sludge heating and recirculation piping. The project is part of CWP’s efforts to modernize the existing WWTP and maintain safe and reliable operations. The effluent pump station improvements include replacing pipes and installing new effluent pumps and flow meters.
On May 15, 2023, the City awarded a construction contract to Mountain Cascade, Inc. (MCI) for $11,344,696, which was approximately 25% below the engineer’s estimate of $15,248,000. Council approved the contract amount along with a $2,270,000 contingency (20% of the contract value) to allow staff to mitigate the risk and impacts from other active construction efforts, as well as impacts due to unanticipated field conditions.
As of April 2026, construction of IAP-III has progressed substantially; however, several unforeseen and differing site conditions and field discrepancies from contract drawings have materially impacted cost, schedule, and constructability.
The majority of these unanticipated changes have primarily occurred at the Site Waste Pump Station (SWPS) and the Effluent Pump Station (EPS). The summary of these changes is described below:
1. Differing Site Conditions at the SWPS
Field investigations revealed that an existing 48-inch sanitary sewer settled and has a lower elevation than what is shown in the contract documents. Corrective work requires approximately 40 working days of effort and includes:
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• Demolition and replacement with a pile-supported manhole • Additional pile support for downstream structures
• Elevation modifications to maintain hydraulic performance • A Dissolved Air Flotation Thickener (DAFT) bypass to allow construction access
2. Electrical Infrastructure Failures at the EPS
The project design assumed reuse of existing conduits; however, field conditions indicate corrosion, water intrusion, and/or other obstructions have rendered the conduits and raceway too degraded for its intended reuse.
Corrective work requires approximately 60 working days of effort and includes:
• New reinforced concrete duct banks
• Additional pull boxes and rebar reinforcement
• Settlement mitigation using deflection/expansion couplings • Crawlspace slab repairs
• Rerouting conductors to avoid plant shutdowns
• Wiring modifications
The resulting delays, expanded scope, and corrective work necessitates a contingency increase to complete IAP-III and maintain the June 2026 substantial completion target. If these issues are not promptly addressed, the Project will be delayed resulting in further cost and schedule impacts.
Approximately $1,360,000 of the $2,270,000 owners’ contingency has been negotiated for additional work required to evaluate and restore failed infrastructure necessary for this Project. An additional $250,000 was negotiated for a new electrical duct bank because the existing conduits could not be reused. These changes result in having only $660,000 remaining in contingency. An additional $1,200,000 (increasing the remaining contingency to $1,860,000) is needed to complete the changes described in the above paragraphs.
To ensure there is sufficient funding to complete the IAP-III, staff recommends a $1,200,000 contingency increase to fund the completion of the project.
BUDGET IMPACT:
There is currently not sufficient budget in the WWTP IAP-III (46T010) project available to fund the expanded scope and needs from these unforeseen issues in addition to the remaining planned work for the project. Sufficient funds are available in the unassigned balance of the Sewer Fund for the requested appropriation of $1,200,000. Approval of this action will increase the IAP-III contingency by $1,200,000, raising the total authorized contingency from $2,270,000 to $3,470,000. This additional appropriation will boost the remaining contingency from $660,000 to $1,860,000, providing the funds needed to complete the project.
ENVIRONMENTAL DETERMINATION:
The Council action approving a budget appropriation is not a project subject to CEQA, because it consists of a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. (CEQA Guidelines Section 15378(b)(4).) In addition, the City prepared a Final Programmatic Environmental Impact Report (Final PEIR) in accordance with the California Environmental Quality Act (CEQA) (SCH No. 2015032006). Council on June 6, 2016, certified the PEIR. In accordance with CEQA, the Final PEIR serves as the primary environmental compliance document for the implementation of the Clean Water Program. The City prepared Addenda to the Final PEIR that was approved on July 16, 2018 (Addendum 1) and April 15, 2019 (Addendum 2). This work is within the scope of the Project evaluated in the PEIR and Addendum.
NOTICE PROVIDED
All meeting noticing requirements were met.
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ATTACHMENTS
Att 1 – Proposed Resolution
STAFF CONTACT
Thomas Ruark, Senior Project Manager
[email protected]
(650) 522-7280
Thomas W. Williams, Engineering Manager
[email protected]
(650) 522-7307
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CITY OF SAN MATEO
RESOLUTION NO. ____ (2026)
AUTHORIZING AN APPROPRIATION IN THE AMOUNT OF $1,200,000 FROM THE UNASSIGNED FUND BALANCE
OF THE SEWER FUND TO THE WASTEWATER TREATMENT PLANT IMMEDIATE ACTION PROJECTS PACKAGE-III
PROJECT
WHEREAS, the Wastewater Treatment Plant (WWTP) is an aging facility, and the Clean Water Program (CWP) includes a variety of capital improvement projects to rehabilitate and upgrade the existing WWTP facilities; and
WHEREAS, the WWTP Immediate Action Projects Package-III (IAP-III) project is a component of the CWP and includes improvements to the WWTP’s effluent pump station, site waste pump station, and plant-wide mechanical and electrical equipment to modernize the existing WWTP and maintain safe and reliable operations; and
WHEREAS, several unforeseen and differing site conditions and field discrepancies have materially impacted cost, schedule, and constructability and utilized the project contingency for construction services; and WHEREAS, an additional $1,200,000 to the IAP-III contingency reserve is required to address and resolve unanticipated conditions and changes at the Site Waste Pump Station (SWPS) and the Effluent Pump Station (EPS) to complete the project and avoid further cost and schedule impacts; and WHEREAS, there is insufficient budget in the IAP-III project account for this increase in project cost; and WHEREAS, the Sewer Fund unassigned fund balance has sufficient funds to appropriate the $1,200,000 required to cover the additional estimated costs.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN MATEO, CALIFORNIA, HEREBY RESOLVES that:
1. The Council action approving a budget appropriation is not a project subject to CEQA, because it consists of a fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. (CEQA Guidelines Section 15378(b)(4).) In addition, the underlying IAP-III project is a part of the City’s Clean Water Program, in which the City prepared a Final Programmatic Environmental Impact Report (Final PEIR) in accordance with the California Environmental Quality Act (CEQA) (SCH No. 2015032006). Council on June 6, 2016, certified the PEIR. In accordance with CEQA, the Final PEIR serves as the primary environmental compliance document for the implementation of the Clean Water Program. The City prepared Addenda to the Final PEIR that was approved on July 16, 2018 (Addendum 1) and April 15, 2019 (Addendum 2). This work is within the scope of the Project evaluated in the PEIR and Addendum.
2. An appropriation in the amount of $1,200,000 from the unassigned fund balance of the Sewer Fund to the WWTP IAP-III (46T010) project budget in the Capital Projects Fund is authorized. 76 of 11211
CITY OF SAN MATEO
CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 7 Section Name: CONSENT CALENDAR Account Number: 10-4662 File ID: 26-11113 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: Public Works Department
MEETING DATE: May 18, 2026
SUBJECT:
On-Call Public Works Plan Review Services — Amendments
RECOMMENDATION:
Approve Amendment No. 3 to the professional consultant services agreement with CSG Consultants, Inc. for on-call Public Works plan review support services, increasing the amount by $200,000 for a revised total amount not to exceed $800,000 and extending the term through June 30, 2027; approve Amendment No. 2 to the professional consultant services agreement with Ghirardelli Associates, Inc. for on-call Public Works plan review support services, increasing the amount by $200,000 for a revised total amount not to exceed $600,000 and extending the term through June 30, 2027; and authorize the Public Works Director to execute the amendments in substantially the form presented and issue future no-cost time extensions, if necessary.
BACKGROUND:
On November 6, 2023, the City Council approved agreements with CSG Consultants, Inc. (CSG) and Ghirardelli Associates, Inc. (GAI) for on-call Public Works plan review support services for $400,000 each, for terms until June 30, 2025, to address a significant increase in the number of planning applications and permits requiring Public Works staff review. These agreements included two optional, one-year term extensions by the City. The volume of planning applications and building permits submitted to the City has dramatically increased over the past year after Assembly Bill 130 went into effect, necessitating the use of outside consulting services to meet the Permit Streamlining Act statutory time limits for application reviews.
In May 2025, staff executed Amendment No. 1 for each agreement to issue the first one-year optional, one-year extension and extending the agreement terms to June 30, 2026. On August 18, 2025, Council approved Amendment No. 2 to the CSG agreement to increase the agreement amount by $200,000, for a revised total amount not to exceed $600,000.
Costs associated with staff time and consultant services required to review and process applications and permits are paid with funds collected through planning application deposits and building permit fees. As such, all costs associated with CSG’s and GAI's reviews of the applications are fully cost-recovered by the City. To ensure the City is providing costeffective services for residents and developers, staff reviews consultant hourly charges to project accounts to verify plan reviews are completed efficiently.
Based on the historic level of effort and expenditures to date, the increase of $200,000 to each agreement amount is estimated to be sufficient to support staff to the end of the extended agreement term on June 30, 2027. Based on the above, staff recommends approval of Amendment No. 3 with CSG and Amendment No. 2 with GAI increasing each agreement amount by $200,000, for a revised total amount not to exceed $600,000 for CSG, and $400,000 for GAI and extending each agreement term to June 30, 2027 in order to meet the City’s immediate level of service requirements for planning applications, building permits, and encroachment permits. 77 of 11211
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BUDGET IMPACT:
The support services provided by these consultant firms will be charged, as services are rendered, to planning application deposit accounts as funded by project developers or by building permit fees as paid by project developers.
ENVIRONMENTAL DETERMINATION:
This approval of professional services agreement amendments to support planning review services by the Public Works Department is not a project subject to CEQA, because it is an organizational or administrative activity that will not result in direct or indirect physical changes in the environment. (CEQA Guidelines Section 15378(b)(5).)
NOTICE PROVIDED
All meeting noticing requirements were met.
ATTACHMENTS
Att 1 – Amendment No. 3 (CSG Consultants, Inc.)
Att 2 – Amendment No. 2 (Ghirardelli Associates, Inc.)
STAFF CONTACT
Jason Hallare, Senior Engineer
[email protected]
(650) 522-7316
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Contract Amendment Page 1 of 2
CAO Approved June 2024
AMENDMENT NO. 3 TO THE AGREEMENT
WITH CSG CONSULTANTS, INC. FOR
PROFESSIONAL CONSULTANT SERVICES FOR
ON-CALL PUBLIC WORKS REVIEW SUPPORT SERVICES
($400,000 [Original Amount], $0 [Amendment No. 1], $200,000 [Amendment No.2], $200,000 [Amendment No.3])
This Amendment is made and entered into this day of _____________ by and between the CITY OF SAN MATEO, a municipal corporation existing under the laws of the State of California ("CITY"), and CSG Consultants, Inc., a corporation ("CONSULTANT").
WHEREAS, CITY and CONSULTANT entered into an Agreement for professional consultant services (“Agreement”) on November 17, 2023; and
WHEREAS, on May 27, 2025 Amendment No. 1 was executed, which extended the term of this Agreement to June 30, 2026; and
WHEREAS, on August 27, 2025, Amendment No. 2 was executed, which increased the not-toexceed amount by $200,000, for a new total Agreement amount of $600,000; and WHEREAS, CITY and CONSULTANT wish to amend the Agreement to extend the term by one additional year and to increase the Agreement by $200,000, for a revised total not-to-exceed amount of $800,000.
NOW, THEREFORE, the Parties agree as follows:
1. Section 4, “Term,” of the Agreement is amended to read:
“The services to be performed under this Agreement shall commence upon execution of the Agreement and be completed on June 30, 2027.”
2. Section 5, “Payment”, of the Agreement is amended to read:
“Payment shall be made by CITY only for services rendered and upon submission of payment request upon completion and CITY approval of the work performed. In consideration for the full performance of the services set forth in Exhibit A, CITY agrees to pay CONSULTANT in an amount not to exceed $800,000.00, pursuant to rates stated in Exhibit B to this Agreement, attached and incorporated by reference.”
3. The remaining terms of the Agreement remain in full force and effect. [SIGNATURE PAGE FOLLOWS]
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Contract Amendment Page 2 of 2
CAO Approved June 2024
IN WITNESS WHEREOF, CITY and CONSULTANT have executed this Amendment No. 3 on _______________.
CITY OF SAN MATEO CSG CONSULTANTS, INC.
Matthew Fabry
Director of Public Works
Date Cyrus Kianpour
President
Date
If a Corporation, can be either 1) President or
2) Vice President plus an additional corporate
officer (i.e., Secretary, Treasurer) who shall
sign below.
APPROVED AS TO FORM ADDITIONAL CORPORATE OFFICER
(if necessary per the above)
Linh P. Nguyen
Assistant City Attorney
Date Nourdin Khayata
Secretary
Date
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Contract Amendment Page 1 of 2
CAO Approved June 2024
AMENDMENT NO. 2 TO THE AGREEMENT
WITH GHIRARDELLI ASSOCIATES, INC. FOR
PROFESSIONAL CONSULTANT SERVICES FOR
ON-CALL PUBLIC WORKS REVIEW SUPPORT SERVICES
($400,000 [Original Amount], $0 [Amendment No. 1], $200,000 [Amendment No. 2]) This Amendment is made and entered into this day of _____________ by and between the CITY OF SAN MATEO, a municipal corporation existing under the laws of the State of California ("CITY"), and Ghirardelli Associates, Inc., a corporation ("CONSULTANT").
WHEREAS, CITY and CONSULTANT entered into an Agreement for on-call public works review support services (“Agreement”) on November 17, 2023; and WHEREAS, on May 23, 2025, Amendment No. 1 was executed, which extended the term of this Agreement to June 30, 2026; and
WHEREAS, CITY and CONSULTANT wish to amend the Agreement to extend by one additional year and to increase the Agreement by $200,000, for a revised total not-to-exceed amount of $600,000.
NOW, THEREFORE, the Parties agree as follows:
1. Section 4, “Term,” of the Agreement is amended to read:
“The services to be performed under this Agreement shall commence upon execution of the Agreement and be completed on June 30, 2027.”
2. Section 5, “Payment”, of the Agreement is amended to read:
“Payment shall be made by CITY only for services rendered and upon submission of payment request upon completion and CITY approval of the work performed. In consideration for the full performance of the services set forth in Exhibit A, CITY agrees to pay CONSULTANT in an amount not to exceed $600,000.00, pursuant to rates stated in Exhibit B to this Agreement, attached and incorporated by reference.”
3. The remaining terms of the Agreement remain in full force and effect. [SIGNATURE PAGE FOLLOWS]
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Contract Amendment Page 2 of 2
CAO Approved June 2024
IN WITNESS WHEREOF, CITY and CONSULTANT have executed this Amendment No. 2 on _______________.
CITY OF SAN MATEO Ghirardelli Associates, Inc.
Matthew Fabry
Director of Public Works
Date Randall Bruner
President / CEO
Date
If a Corporation, can be either 1) President or
2) Vice President plus an additional corporate
officer (i.e., Secretary, Treasurer) who shall
sign below.
APPROVED AS TO FORM ADDITIONAL CORPORATE OFFICER
(if necessary per the above)
Linh P. Nguyen
Assistant City Attorney
Date *additional corp officer*
*title*
Date
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CITY OF SAN MATEO
CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 8 Section Name: CONSENT CALENDAR Account Number: 10-4679 File ID: 26-11127 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: Public Works Department
MEETING DATE: May 18, 2026
SUBJECT:
Marina Lagoon Spot Dredging – Agreement
RECOMMENDATION:
Approve an agreement with MidCal Dredging, Inc. for the Marina Lagoon Spot Dredging Project in the amount of $1,266,216; establish a contingency reserve in the amount of $190,000; and authorize the Public Works Director to execute the agreement in substantially the form presented and issue change orders as allowed by the agreement documents and within the contingency amount.
BACKGROUND:
The Marina Lagoon Spot Dredging Project (Project) is part of the City's plan to perform maintenance on the City's most prominent flood control and recreational facility. Since its construction in 1964, the Marina Lagoon has accumulated more than 314,190 cubic yards of shoaling (sediment deposition), which has reduced its utility as a flood control and recreational facility. While the City is exploring alternatives to perform a medium- to large-scale dredging project to address nearly 60 years of shoaling, this current Project comprises targeted dredging up to 2,000 cubic yards from areas where stream and stormwater runoff from where Borel Creek (19th Avenue Channel) and Leslie Creek (16th Avenue Channel) flow into the Marina Lagoon. Dredging near the outfall of Laurel Creek was originally part of the proposed project but was later deferred for the medium- to large-scale project.
On January 4, 2024, the City issued a Request for Proposals for professional design and consulting services for the Project.
The City awarded the project to Moffatt & Nichol (M&N) on April 1, 2024. M&N subsequently prepared bid documents with an Engineer's Estimate of $1,150,000 to complete the Project.
In accordance with Municipal Code Section 3.60.030, a competitive public process was used to obtain bids for the Project.
A Notice Inviting Sealed Bids was issued on June 3, 2025. The City received one (1) bid at the bid opening deadline on June 25, 2025, in the amount of $1,509,500. Due to the high amount of the single bid exceeding the estimate and budget, the City Council rejected all bids on August 18, 2025, and also authorized the Public Works Director to negotiate directly with the sole bidder. Negotiations with the sole bidder did not result in an agreement, and a rebid of the Project was issued on January 15, 2026.
At the February 17, 2026 bid opening, two (2) bids were received but were later determined to be non-responsive due to omissions on the bid proposal forms, and all bids were subsequently rejected. A third advertisement of the Project, with a bid opening date of April 7, 2026, yielded three (3) bids from MidCal Dredging, Inc. ($1,255,216), Duwamish Services ($1,428,350), and Dixon Marine Services ($1,525,410).
Staff reviewed the bids and determined that MidCal Dredging, Inc. is the lowest responsive, responsible bidder and recommends that it be awarded the Agreement. There is a high likelihood that unforeseen issues will arise during the 83 of 11211
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Project due to the nature of over-water work. Accordingly, staff recommends that a 15% contingency be established given the high potential for significant unforeseen issues.
BUDGET IMPACT:
There are sufficient funds in the Storm System Dredging Project (#468005) and the Wet Weather Preparation Activities Project (#46C006) budgets to fund this work in this Agreement and establish the contingency reserve.
ENVIRONMENTAL DETERMINATION:
This Project will be performed pursuant to the terms and conditions of an existing permit with the environmental regulatory agencies for the Marina Lagoon including the San Francisco Bay Regional Water Quality Control Board. On July 7, 2021, the City filed a Notice of Exemption with the Office of Planning and Research and the County Clerk-Recorder for the County of San Mateo (SCH No. 2021070131) for proposed maintenance activities for the Marina Lagoon, effective from 2022 through 2026. These maintenance activities are categorically exempt as existing facilities as they involve negligible or no expansion of existing or former use. (CEQA Guidelines Section 15301.)
NOTICE PROVIDED
All meeting noticing requirements were met.
ATTACHMENTS
Att 1 – Agreement
STAFF CONTACT
Jimmy Vo, Engineering Manager
[email protected]
(650) 522-7319
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Contract
This public works contract (“Contract”) is entered into by and between the City of San Mateo (“City”) and MidCal Dredging Inc. (“Contractor”), for work on the Marina Lagoon Spot Dredging Project (“Project”).
The parties agree as follows:
1. Award of Contract. In response to the Notice Inviting Bids, Contractor has submitted a Bid Proposal to perform the Work to construct the Project. On May 18th, 2026, City authorized award of this Contract to Contractor for the amount set forth in Section 4, below.
2. Contract Documents. The Contract Documents incorporated into this Contract include and are comprised of all of the documents listed below. The definitions provided in Article 1 of the General Conditions apply to all of the Contract Documents, including this Contract.
2.1 Notice Inviting Bids;
2.2 Instructions to Bidders;
2.3 Addenda, if any;
2.4 Bid Proposal and attachments thereto;
2.5 Contract;
2.6 Payment and Performance Bonds;
2.7 General Conditions;
2.8 Special Conditions;
2.9 Project Plans and Specifications;
2.10 Change Orders, if any;
2.11 Notice of Potential Award; and
2.12 Notice to Proceed.
3. Contractor’s Obligations. Contractor will perform all of the Work required for the Project, as specified in the Contract Documents. Contractor must provide, furnish, and supply all things necessary and incidental for the timely performance and completion of the Work, including all necessary labor, materials, supplies, tools, equipment, transportation, onsite facilities, and utilities, unless otherwise specified in the Contract Documents. Contractor must use its best efforts to diligently prosecute and complete the Work in a professional and expeditious manner and to meet or exceed the performance standards required by the Contract Documents.
4. Payment. As full and complete compensation for Contractor’s timely performance and completion of the Work in strict accordance with the terms and conditions of the Contract Documents, City will pay Contractor $1,266,216.00 (“Contract Price”) for all of Contractor’s direct and indirect costs to perform the Work, including all labor, materials, supplies, equipment, taxes, insurance, bonds and all overhead costs, in accordance with the payment provisions in the General Conditions.
5. Time for Completion. Contractor will fully complete the Work for the Project, meeting all requirements for Final Completion, within 80 working days from the start date set forth in the Notice to Proceed (“Contract Time”). By signing below, Contractor expressly waives any claim for delayed early completion.
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6. Liquidated Damages. As further specified in Section 5.4 of the General Conditions, if Contractor fails to complete the Work within the Contract Time, City will assess liquidated damages in the amount of $1,200 per day for each day of unexcused delay in achieving Final Completion, and such liquidated damages may be deducted from City’s payments due or to become due to Contractor under this Contract.
If by fault of the Contractor, the Contractor must shut down operations at the end of the Work Window as stated in the technical specifications and in the permits and resume the following work window, the Contractor will be subject to the same daily rate for Liquidated Damages
7. Labor Code Compliance.
7.1 General. This Contract is subject to all applicable requirements of Chapter 1 of Part 7 of Division 2 of the Labor Code, including requirements pertaining to wages, working hours and workers’ compensation insurance, as further specified in Article 9 of the General Conditions.
7.2 Prevailing Wages. This Project is subject to the prevailing wage requirements applicable to the locality in which the Work is to be performed for each craft, classification or type of worker needed to perform the Work, including employer payments for health and welfare, pension, vacation, apprenticeship and similar purposes. Copies of these prevailing rates are available online at http://www.dir.ca.gov/DLSR.
7.3 DIR Registration. City may not enter into the Contract with a bidder without proof that the bidder and its Subcontractors are registered with the California Department of Industrial Relations to perform public work pursuant to Labor Code § 1725.5, subject to limited legal exceptions.
7.4 Minimum Wage. Contractor agrees to comply with the City’s minimum wage ordinance as codified in San Mateo Municipal Code Chapter 5.92, which differs from the state minimum wage and includes a Consumer Price Index escalator.
Contractor and its Subcontractors are required to pay the higher of the currently applicable state prevailing wage rates or City minimum wage.
8. Workers’ Compensation Certification. Pursuant to Labor Code § 1861, by signing this Contract, Contractor certifies as follows: “I am aware of the provisions of Labor Code § 3700 which require every employer to be insured against liability for workers’ compensation or to undertake self-insurance in accordance with the provisions of that code, and I will comply with such provisions before commencing the performance of the Work on this Contract.”
9. Conflicts of Interest. Contractor, its employees, Subcontractors, and agents may not have, maintain, or acquire a conflict of interest in relation to this Contract in violation of any City ordinance or requirement, or in violation of any California law, including Government Code § 1090 et seq., or the Political Reform Act, as set forth in Government Code § 81000 et seq. and its accompanying regulations. Any violation of this Section constitutes a material breach of the Contract.
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10. Independent Contractor. Contractor is an independent contractor under this Contract and will have control of the Work and the means and methods by which it is performed. Contractor and its Subcontractors are not employees of City and are not entitled to participate in any health, retirement, or any other employee benefits from City.
11. Notice. Any notice, billing, or payment required by or pursuant to the Contract Documents must be made in writing, signed, dated, and sent to the other party by personal delivery, U.S. Mail, a reliable overnight delivery service, or by email as a PDF file. Notice is deemed effective upon delivery, except that service by U.S. Mail is deemed effective on the second working day after deposit for delivery. Notice for each party must be given as follows:
City:
Department of Public Works
330 W. 20th Avenue
San Mateo, CA 94403
Attn: James Yang, Senior Engineer
[email protected]
Copy to: Jimmy Vo, Engineering Manager
[email protected]
Contractor:
Name: MidCal Dredging Inc.
Address: 22052 Everett Avenue
City/State/Zip: Riverdale, CA 93656
Phone: 559-816-5321
Attn: Randy Thomas
Email: [email protected]
12. General Provisions.
12.1 Assignment and Successors. Contractor may not assign its rights or obligations under this Contract, in part or in whole, without City’s written consent. This Contract is binding on Contractor’s and City’s lawful heirs, successors and permitted assigns.
12.2 Third Party Beneficiaries. There are no intended third party beneficiaries to this Contract.
12.3 Governing Law and Venue. This Contract will be governed by California law and venue will be in the San Mateo County Superior Court, and no other place.
Contractor waives any right it may have pursuant to Code of Civil Procedure § 394, to file a motion to transfer any action arising from or relating to this Contract to a venue outside of San Mateo County, California.
12.4 Amendment. No amendment or modification of this Contract will be binding unless it is in a writing duly authorized and signed by the parties to this Contract. 87 of 11211
12.5 Integration. This Contract and the Contract Documents incorporated herein, including authorized amendments or Change Orders thereto, constitute the final, complete, and exclusive terms of the agreement between City and Contractor.
12.6 Severability. If any provision of the Contract Documents is determined to be illegal, invalid, or unenforceable, in whole or in part, the remaining provisions of the Contract Documents will remain in full force and effect.
12.7 Iran Contracting Act. If the Contract Price exceeds $1,000,000, Contractor certifies, by signing below, that it is not identified on a list created under the Iran Contracting Act, Public Contract Code § 2200 et seq. (the “Act”), as a person engaging in investment activities in Iran, as defined in the Act, or is otherwise expressly exempt under the Act.
12.8 Authorization. Each individual signing below warrants that he or she is authorized to do so by the party that he or she represents, and that this Contract is legally binding on that party. If Contractor is a corporation, signatures from two officers of the corporation are required pursuant to California Corporations Code § 313. [Signatures are on the following page.]
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The parties agree to this Contract as witnessed by the signatures below:
CITY: Approved as to form:
s/_______________________________ s/__________________________________ ________________________________ ___________________________________ Matt Fabry, Director of Public Works Linh P. Nguyen, Assistant City Attorney Date: ___________________________ Date: ______________________________
Attest:
s/_______________________________
_________________________________
Name, Title
Date: ___________________________
CONTRACTOR: MidCal Dredging Inc.
s/_______________________________ Seal:
_________________________________
Randy Thomas, CEO
Date: ____________________________
Second Signature (See Section 12.8):
s/_______________________________
_________________________________
Lauren T. Oviatt, President/CFO
Date: ____________________________
1055525 – Expiration 8/31/26
Contractor’s California License Number(s) and Expiration Date(s)
END OF CONTRACT
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CITY OF SAN MATEO
CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 9 Section Name: CONSENT CALENDAR Account Number: 10-4679 File ID: 26-11104 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: Public Works Department
MEETING DATE: May 18, 2026
SUBJECT:
57 Otay Avenue Slide Repair Project — Agreement
RECOMMENDATION:
Approve an agreement with W.R. Forde Associates, Inc. in the amount of $456,000 for construction of the 57 Otay Avenue Slide Repair Project; establish a contingency reserve of $68,400; and authorize the Public Works Director to execute the agreement in substantially the form presented and issue change orders as allowed by the contract documents within the contingency amount.
BACKGROUND:
During a storm event in December 2021, a large tree uprooted on the north side of Laurel Creek, fell across the channel, and damaged the south embankment behind 57 Otay Avenue. Operations and Maintenance crews promptly removed the fallen tree and installed temporary slope protection measures to prevent further erosion.
On October 14, 2022, the City executed an agreement with William Vandivere dba Clearwater Hydrology for design services to prepare a complete Plans, Specifications, and Estimates (PS&E) package for permanent repairs. While Clearwater Hydrology worked on the PS&E package, the City completed a multi-agency permitting effort that required extended review timelines across state and federal agencies. Concurrently, the City coordinated with local Native American representatives to address monitoring requirements and potential native resources within the project area.
Design was completed in early 2026 and includes reconstruction of the south embankment to address ongoing erosion and stabilize the area.
In accordance with Municipal Code section 3.60.030, a competitive public process was used to obtain construction bids for 57 Otay Avenue Slide Repair and was advertised on March 16, 2026. On April 14, 2026, four (4) bids were received. The Engineer‘s Estimate for the project was $450,000. The bids received are listed below in order of increasing bid amount.
Contractor Bid Amount
W.R. Forde Associates, Inc. $456,000
Ground Control, Inc. $459,000
John Boylan Engineering, Inc. $535,000
Golden Bay Construction, Inc. $589,286
After review of bid documents, staff determined that W.R. Forde Associates, Inc. is the lowest responsive, responsible bidder. Therefore, staff recommends W.R. Forde Associates, Inc. be awarded this construction agreement. In addition, staff recommends a contingency of 15% of the Agreement amount be established given potential unforeseen soil conditions.
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Construction is anticipated for Summer/Fall of 2026.
BUDGET IMPACT:
There are sufficient funds available in the Citywide Soil Stabilization Program (46c002) project budget to award this agreement and establish the contingency reserve.
ENVIRONMENTAL DETERMINATION:
This Project is categorically exempt from CEQA as an “existing facility,” because it consists of the operation, repair, maintenance, permitting, leasing, licensing, or minor alteration of existing public or private structures, facilities, mechanical equipment, or topographical features, involving negligible or no expansion of existing or former use. (CEQA Guidelines Section 15301.)
NOTICE PROVIDED
All meeting noticing requirements were met.
ATTACHMENTS
Att 1 – Agreement
STAFF CONTACT
Dominic Boneno, Associate Engineer
[email protected]
(650) 522-7341
Stephanie Piñon, Senior Engineer
[email protected]
(650) 522-7315
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AGREEMENT WITH W.R. FORDE ASSOCIATES, INC.
FOR PUBLIC IMPROVEMENT
FOR
57 OTAY AVENUE SLIDE REPAIR
CITY PROJECT NO. 46C002
THIS AGREEMENT FOR PUBLIC IMPROVEMENTS (“Agreement”), made and entered into in the City of San Mateo, County of San Mateo, State of California, by and between the CITY OF SAN MATEO, a municipal corporation existing under the laws of the State of California, (hereinafter called "City") and W.R. Forde Associates, Inc., a corporation, with offices at 984 Hensley Street, Richmond, CA 94801 (hereinafter called "Contractor"), entered into this day of ____________________.
RECITALS:
(a) City has taken appropriate proceedings to authorize construction of the public work and improvements or other matters herein provided, and execution of this Agreement. (b) A notice was duly published for bids for the contract for the improvement hereinafter described.
(c) After notice duly given, on the date hereof, the City awarded the contract for the construction of the improvements hereinafter described to Contractor.
IT IS AGREED, as follows:
1. Scope of Work. Contractor shall perform the work according to the Contract Book entitled:
57 OTAY AVENUE SLIDE REPAIR PROJECT
CITY PROJECT NO. 46C002
2. Contract Price. City shall pay, and the Contractor shall accept, the sum of four hundred and fifty-six thousand dollars ($456,000.00) in full payment for the work set forth above.
Said price is determined by the prices contained in Contractor's bid, and shall be paid as described in the Contract Book. In the event work is performed or materials furnished in addition to or a reduction of those set forth in Contractor's bid and the specifications herein, such work and materials will be paid for as described in the Contract Book.
3. The Contract Documents. The complete contract consists of the following documents: this Agreement; the Notice Inviting Sealed Proposals; the Accepted Proposal; the Contract Book which includes the Special Provisions, Revised Standard Specifications dated April 15, 2022, and Contract Drawings, any and all addendums, the State of California Standard Specifications 2018 Edition, the State of California Department of Transportation Standard Plans, 2018 Edition, the Faithful Performance Bond, and the Labor and Material Bond (hereinafter referred to as the “the contract documents”).
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All rights and obligations of City and Contractor are fully set forth and described in the contract documents. The contract documents constitute the entire contract between the parties hereto pertaining to the subject matter hereof, fully supersede any and all prior understandings, representations, warranties and agreements between the parties hereto, or any of them, pertaining to the subject matter hereof, and may be modified only by written agreement signed by all of the parties hereto.
All of the above-named documents are complementary and are intended to operate in harmony, so that any work called for in one, and not mentioned in the other, or vice versa, is to be executed the same as if mentioned in all said documents. In the event of any variation or discrepancy between any portion of this Agreement and any portion of the contract documents, this Agreement shall prevail. The precedence of the remaining contract documents will be as specified in the Contract Book.
4. Schedule. All work shall be performed in accordance with the schedule provided pursuant to the Contract Book.
5. Performance by Sureties. In the event of any termination as hereinbefore provided, City shall immediately give written notice thereof to Contractor and Contractor's sureties, and the sureties shall have the right to take over and perform the Agreement, provided, however, that if the sureties, within 5 days after giving them said notice of termination, do not give City written notice of their intention to take over the performance thereof within 5 days after notice to City of such election, City may take over the work and prosecute the same to completion, by contract or by any other method it may deem advisable, for the account, and at the expense of Contractor, and the sureties shall be liable to City for any excess cost or damages occasioned City thereby; and, in such event, City may, without liability for so doing, take possession of, and utilize in completing the work, such materials, appliances, plant and other property belonging to Contractor as may be on the site of the work and necessary therefor.
6. Legal Work Day - Penalties for Violation. Eight hours of labor shall constitute a legal day's work.
Contractor shall not require more than 8 hours labor in a day and 40 hours in a calendar week from any person employed by Contractor in the performance of such work unless such excess work is compensated for at not less than 1-1/2 times the basic rate of pay. Contractor shall forfeit as a penalty to City the sum of $25.00 for each laborer, workman or mechanic employed in the execution of this contract by Contractor, or by any subcontractor for each calendar day during which such laborer, workman or mechanic is required or permitted to labor more than 8 hours in any calendar day and 40 hours in any one calendar week in violation of the provisions of Sections 1810 and 1816, inclusive, of the Labor Code of the State of California.
7. Prevailing Wage Scale. The prevailing wage scale as determined by the Director of Industrial Relations of the State of California, in force on the day the bid was announced, will be the minimum paid to all craftsmen and laborers working on this project. Contractor shall also require any subcontractors who work or provide any services related to the project to pay all persons performing labor or rendering service under said subcontract or other arrangement at least the general prevailing rate of wages, determined as set forth herein for the respective crafts and employments, including such wages for 93 of 11211
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holiday and overtime work. A copy of the correct determination will be posted at the job site. It is understood that it is the responsibility of Contractor to determine the correct scale. Copies of the prevailing wage rates are on file at the City Clerk's office, however, errors or defects in the materials in the City Clerk's office will not excuse a bidder's failure to comply with the actual scale then in force.
Contractor must submit certified payrolls to the Department of Industrial Relations in accordance with Labor Code Section 1776.
Contractor agrees to comply with the City’s minimum wage ordinance as codified in Municipal Code Chapter 5.92, which differs from the state minimum wage and includes a Consumer Price Index escalator.
8. Senate Bill 854 Compliance Required. In accordance with Labor Code Sections 1725.5 and 1771.1, all contractors and subcontractors must be registered with the Department of Industrial Relations.
In accordance with Labor Code Section 1771.4 the contractor must post job site notices as required by regulation and this project will be subject to compliance monitoring and enforcement by the Department of Industrial Relations.
9. Insurance. The Contractor shall procure and maintain for the duration of the contract and five years thereafter the insurance as specified in Exhibit A of this agreement.
10. Indemnity. Contractor agrees to hold harmless and indemnify City, its elected and appointed officials, employees, volunteers, and agents from and against any and all claims, loss, liability, damage, and expense arising out of Contractor’s performance of this Agreement, except for those claims arising out of City’s active negligence, sole negligence or willful misconduct. Contractor agrees to defend City, its elected and appointed officials, employees, volunteers, and agents against any such claims.
The Contractor’s duty to indemnify shall survive expiration or early termination of this Agreement.
11. Attorney Fees. Attorney fees in total amount not exceeding $5000, shall be recoverable as costs (by the filing of a cost bill) by the prevailing party in any action or actions to enforce the provisions of this Agreement. The above $5000 limit is the total of attorney fees recoverable whether in the trial court, appellate court, or otherwise, and regardless of the number of attorneys, trials, appeals, or actions. It is the intent of this provision that neither party shall have to pay the other more than $5000 for attorney fees arising out of an action, or actions to enforce the provisions of this Agreement.
12. Mediation. Should any dispute arise out of this Agreement, any party may request that it be submitted to mediation. The parties shall meet in mediation within 30 days of a request. The mediator shall be agreed to by the mediating parties; in the absence of an agreement, the parties shall each submit one name from mediators listed by either the American Arbitration Association, the California State Board of Mediation and Conciliation, or other agreed-upon service. The mediator shall be selected by a blind draw.
The cost of mediation shall be borne equally by the parties. Neither party shall be deemed the prevailing party. No party shall be permitted to file a legal action without first meeting in mediation and making a good faith attempt to reach a mediated settlement. The mediation process, once 94 of 11211
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commenced by a meeting with the mediator, shall last until agreement is reached by the parties but not more than 60 days, unless the maximum time is extended by the parties.
13. Provisions Cumulative. The provisions of this agreement are cumulative, and in addition to and not in limitation of, any other rights or remedies available to City.
14. Notices. All notices shall be in writing, and delivered in person or transmitted by certified mail, postage prepaid.
a. Notices required to be given to City shall be addressed as follows:
Director of Public Works
City of San Mateo
330 West 20th Avenue
San Mateo, CA 94403
Notices required to be given to Contractor shall be addressed as appears in the signature block as shown on the Bidder's Statement.
15. Interpretation. As used herein any gender includes each other gender, the singular includes the plural and vice versa.
16. Governing Law and Venue. This Agreement, the contract documents, and the performance hereon shall be governed, interpreted, construed, and regulated by the laws of the State of California. The parties agree that any action related to this Agreement or the contract documents will be venued in the County of San Mateo.
17. Headings. The title and headings of the various sections of this Agreement and the contract documents are intended solely for convenience of reference and are not intended to explain, modify, or place any construction on any provisions.
18. No Partnership or Agency. Nothing in this Agreement nor the contract documents shall be deemed to constitute a partnership in law between City and Contractor, or any sub-contractor, to constitute either party as an agent of the other for any purpose; or to entitle either party to commit or bind the other in any manner unless expressly agreed upon in the contract documents.
19. Severability. If any part or provision of the contract documents is determined by any court to be illegal, invalid, or unenforceable, in whole or in part, the contract documents shall continue to be valid as to its other provisions and the remainder of the affected provision, unless it can be concluded from the circumstances that, in the absence of the provisions found to be null and void, the parties would not have entered into the contract documents. The parties shall use all reasonable efforts to replace any and all provisions or parts found to be null and void with provisions that are valid under the applicable law and come closest to their original intention.
20. Waiver. None of the following shall operate as a waiver of any provision of the contract documents, or of any power herein reserved by the City, or any right to damages herein provided: 1) inspection 95 of 11211
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by the City or its authorized agents or representatives; 2) any order or certificate for payment, or any payment for, or acceptance of the whole or any part of the work by the City; 3) an extension of time; or 4) any position taken by the City or its authorized agents or representatives.
21. Warranty. Contractor warrants and guarantees that the materials and equipment provided shall be at least of the quality specified and new unless otherwise required or permitted by the contract documents, and, if no quality is specified, then the materials and equipment shall be of commercial grade, suitable for heavy public use in facilities of similar size and complexity, that the work performed hereunder will be free from defects, and that the work will conform to the requirements of the contract documents.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, this agreement between the CITY OF SAN MATEO and W.R. Forde Associates, Inc. has been duly executed by the parties hereinabove named, as of the day and year first above written.
CITY OF SAN MATEO CONTRACTOR
Matt Fabry
Director of Public Works
Date Donald J. Russell
Its Authorized Agent
President
Date
APPROVED AS TO FORM
Linh Nguyen
Assistant City Attorney
Date
Attachments:
Exhibit A: Insurance Requirements
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Exhibit A
Insurance Requirements for Construction Contracts
Contractor shall procure and maintain for the duration of the contract, and for x years thereafter, insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the work hereunder by the Contractor, his agents, representatives, employees, or subcontractors.
MINIMUM SCOPE AND LIMIT OF INSURANCE
Coverage shall be at least as broad as:
1. Commercial General Liability (CGL): Insurance Services Office (ISO) Form CG 00 01 covering CGL on an “occurrence” basis, including products and completed operations, property damage, bodily injury and personal & advertising injury with limits no less than $5,000,000 per occurrence. If a general aggregate limit applies, either the general aggregate limit shall apply separately to this project/location (ISO CG 25 03 or 25 04) or the general aggregate limit shall be twice the required occurrence limit.
2. Automobile Liability: Insurance Services Office Form CA 0001 covering Code 1 (any auto), with limits no less than $5,000,000 per accident for bodily injury and property damage.
3. Workers’ Compensation insurance as required by the State of California, with Statutory Limits, and Employers’ Liability insurance with a limit of no less than $1,000,000 per accident for bodily injury or disease.
4. Builder’s Risk (Course of Construction) insurance utilizing an “All Risk” (Special Perils) coverage form, with limits equal to the completed value of the project and no coinsurance penalty provisions.
5. Surety Bonds as described below.
6. Contractors’ Pollution Legal Liability and/or Asbestos Legal Liability and/or Errors and Omissions (if project involves environmental hazards) with limits no less than $1,000,000 per occurrence or claim, and $2,000,000 policy aggregate.
If the contractor maintains broader coverage and/or higher limits than the minimums shown above, the Entity requires and shall be entitled to the broader coverage and/or higher limits maintained by the contractor. Any available insurance proceeds in excess of the specified minimum limits of insurance and coverage shall be available to the Entity.
Self-Insured Retentions
Self-insured retentions must be declared to and approved by the Entity. At the option of the Entity, either: the contractor shall cause the insurer shall to reduce or eliminate such self-insured retentions as respects the Entity, its officers, officials, employees, and volunteers; or the Contractor shall provide a financial guarantee satisfactory to the Entity guaranteeing payment of losses and related investigations, claim administration, and defense expenses. The policy language shall provide, or be endorsed to provide, that the self-insured retention may be satisfied by either the named insured or Entity.
Other Insurance Provisions
The insurance policies are to contain, or be endorsed to contain, the following provisions:
100 of 11211
Construction Contract Page 8 of 9
Rev 4/26
1. The Entity, its officers, officials, employees, volunteers, and agents are to be covered as additional insureds on the CGL policy with respect to liability arising out of work or operations performed by or on behalf of the Contractor including materials, parts, or equipment furnished in connection with such work or operations and automobiles owned, leased, hired, or borrowed by or on behalf of the Contractor. General liability coverage can be provided in the form of an endorsement to the Contractor’s insurance (at least as broad as ISO Form CG 20 10, CG 11 85 or both CG 20 10, CG 20 26, CG 20 33, or CG 20 38; and CG 20 37 forms if later revisions used).
2. For any claims related to this project, the Contractor’s insurance coverage shall be primary insurance coverage at least as broad as ISO CG 20 01 04 13 as respects the Entity, its officers, officials, employees, volunteers, and agents. Any insurance or self-insurance maintained by the Entity, its officers, officials, employees, volunteers, and agents shall be excess of the Contractor’s insurance and shall not contribute with it.
3. Each insurance policy required by this clause shall provide that coverage shall not be canceled, except with notice to the Entity.
Builder’s Risk (Course of Construction) Insurance
Contractor may submit evidence of Builder’s Risk insurance in the form of Course of Construction coverage. Such coverage shall name the Entity as a loss payee as their interest may appear.
If the project does not involve new or major reconstruction, at the option of the Entity, an Installation Floater may be acceptable. For such projects, a Property Installation Floater shall be obtained that provides for the improvement, remodel, modification, alteration, conversion or adjustment to existing buildings, structures, processes, machinery and equipment. The Property Installation Floater shall provide property damage coverage for any building, structure, machinery or equipment damaged, impaired, broken, or destroyed during the performance of the Work, including during transit, installation, and testing at the Entity’s site.
Claims Made Policies – (If at all possible avoid and require occurrence type CGL policies) If any coverage required is written on a claims-made coverage form:
1. The retroactive date must be shown, and this date must be before the execution date of the contract or the beginning of contract work.
2. Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after completion of contract work.
3. If coverage is canceled or non-renewed, and not replaced with another claims-made policy form with a retroactive date prior to the contract effective, or start of work date, the Contractor must purchase extended reporting period coverage for a minimum of five (5) years after completion of contract work.
4. A copy of the claims reporting requirements must be submitted to the Entity for review.
5. If the services involve lead-based paint or asbestos identification/remediation, the Contractors Pollution Liability policy shall not contain lead-based paint or asbestos exclusions. If the services involve mold identification/remediation, the Contractors Pollution Liability policy shall not contain a mold exclusion, and the definition of Pollution shall include microbial matter, including mold.
Acceptability of Insurers
Insurance is to be placed with insurers authorized to conduct business in the state with a current A.M.
Best rating of no less than A: VII, unless otherwise acceptable to the Entity.
Waiver of Subrogation
Contractor hereby agrees to waive rights of subrogation which any insurer of Contractor may acquire from Contractor by virtue of the payment of any loss. Contractor agrees to obtain any endorsement 101 of 11211
Construction Contract Page 9 of 9
Rev 4/26
that may be necessary to affect this waiver of subrogation. The Workers’ Compensation policy shall be endorsed with a waiver of subrogation in favor of the Entity for all work performed by the Contractor, its employees, agents and subcontractors.
Verification of Coverage
Contractor shall furnish the Entity with original Certificates of Insurance including all required amendatory endorsements (or copies of the applicable policy language effecting coverage required by this clause) and a copy of the Declarations and Endorsement Page of the CGL policy listing all policy endorsements to Entity before work begins. However, failure to obtain the required documents prior to the work beginning shall not waive the Contractor’s obligation to provide them. The Entity reserves the right to require complete, certified copies of all required insurance policies, including endorsements, required by these specifications, at any time.
Subcontractors
Contractor shall require and verify that all subcontractors maintain insurance meeting all the requirements stated herein, and Contractor shall ensure that Entity is an additional insured on insurance required from subcontractors. For CGL coverage subcontractors shall provide coverage with a form at least as broad as CG 20 38 04 13.
Surety Bonds
Contractor shall provide the following Surety Bonds:
1. Bid bond
2. Performance bond
3. Payment bond
4. Maintenance bond
The Payment Bond and the Performance Bond shall be in a sum equal to the contract price. If the Performance Bond provides for a one-year warranty a separate Maintenance Bond is not necessary. If the warranty period specified in the contract is for longer than one year a Maintenance Bond equal to 10% of the contract price is required. Bonds shall be duly executed by a responsible corporate surety, authorized to issue such bonds in the State of California and secured through an authorized agent with an office in California.
Special Risks or Circumstances
Entity reserves the right to modify these requirements, including limits, based on the nature of the risk, prior experience, insurer, coverage, or other circumstances. 102 of 11211
CITY OF SAN MATEO
CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 10 Section Name: CONSENT CALENDAR Account Number: 10-2021 File ID: 26-11139 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: Finance Department
MEETING DATE: May 18, 2026
SUBJECT:
Quarter ending March 31, 2026 — Investment Report
RECOMMENDATION:
Receive the quarterly investment report for the period ending March 31, 2026.
BACKGROUND:
In the past, City staff has provided a quarterly report on the City’s investments to the Investment Advisory Committee for review. Going forward, City staff plans to provide this quarterly report to the City Council to include the type of investment, issuer, date of maturity, par and dollar amount invested on all securities, investments and moneys held by the local agency for review as soon as feasible following the end of the quarter, as permitted by California Government Code Section 53646. The most recent quarterly investment report, including all investments held by the City of San Mateo, is provided as Attachment 1 for the Council's review. Chandler Asset Management (Chandler), the City's investment advisor, manages the long-term portion of the City's portfolio, while staff manages the liquid/short-term portion as outlined in the investment report.
The California Government Code requires investment objectives of safety, liquidity, and yield, in that order. As such, safety of principal is the foremost objective of the City's investment program. The portfolio must remain sufficiently liquid to enable the City to meet all cash requirements.
California Government Code also strictly governs which investments public agencies can hold. In some cases, state law also governs what percentage of the portfolio can be invested in certain security types, maximum maturities and minimum credit ratings by major rating agencies, such as Standard & Poor's and Moody's Investors Service. The City's investment policy reflects these parameters and therefore, the City primarily invests in highly rated securities such as U.S. Treasury, federal agencies, and government sponsored enterprise debt as well as high credit quality, non-governmental debt securities. The investment report provides information on the values (par, book and market), the type of investment, issuer, maturity date and yield of each investment.
As City staff looks ahead to upcoming needs, July is typically the month in which the City sees the largest outflows of cash.
Based on forecasts, the City will have enough cash in our liquid/short-term investments to support our needs until the next large in-flow of funds, which will occur in December with property tax revenues. Thus, the City should have sufficient cash available without having to draw any funds from investment accounts with Chandler. As of March 31, 2026, the City’s liquid/short-term investments, our Pool accounts, had the following balances:
103 of 11211
CITY OF SAN MATEO
Account 3/31/26 Balance
Local Agency Investment Fund (LAIF) $ 73,905,797.37
California Asset Management Program (CAMP) $69,794,954.54 San Mateo County Investment Pool Fund (County Pool) $41,963,470.77 Total Liquid Investments $185,664,222.68
In summary, the overall goal of the City’s investment portfolio is to keep funds safe, accessible, and earning a reasonable return. Chandler staff and City staff continue to keep a close watch on market trends and risks to make sure the portfolio stays strong.
BUDGET IMPACT:
Overall, the City’s investment income remained strong for the third quarter of fiscal year 2025-26, totaling $2,216,550.09.
ENVIRONMENTAL DETERMINATION:
The Investment Report for the quarter ending March 31, 2026, is not a project subject to CEQA, because it is a government fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment. (CEQA Guidelines Section 15378(b)(4).)
NOTICE PROVIDED
All meeting noticing requirements were met.
ATTACHMENTS
Att 1 – City of San Mateo Investment Report for the quarter ending 3/31/26
STAFF CONTACT
Karley Toffey, Senior Management Analyst
[email protected]
(650) 522-7106
104 of 11211
MONTHLY ACCOUNT STATEMENT
City of San Mateo Cons | Account #10720 | As of March 31, 2026 CHANDLER ASSET MANAGEMENT | chandlerasset.com
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.
Chandler Team:
For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian:
105 of 11211
CONFIDENTIAL | 2
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Account Summary
Maturity Distribution
Top Issuers
Credit Quality*
Average Modified Duration 1.74
Average Coupon 3.82%
Average Purchase YTM 4.00%
Average Market YTM 4.00%
Average Credit Quality* AA+
Average Final Maturity 2.07
Average Life 1.92
End Values as of
02/28/2026
End Values as of
03/31/2026
Market Value 604,276,188.38 609,431,935.82
Accrued Interest 2,876,390.30 3,178,933.57
Total Market Value 607,152,578.69 612,610,869.39
Income Earned 1,428,471.85 2,216,550.09
Cont/WD (13,709,320.83) 8,368,771.59
Par 601,835,895.80 611,740,831.03
Book Value 598,714,295.40 608,689,526.70
Cost Value 597,452,212.87 607,322,605.39
United States 26.42%
LAIF 12.13%
California Asset Mgmt Program 11.45%
Federal Home Loan Mortgage Corp 9.23%
San Mateo County Pool 6.89%
Federal Home Loan Banks 2.12%
Money Market Fund 2.02%
Farm Credit System 1.57%
*The average credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 106 of 11211
CONFIDENTIAL | 3
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
AGENCY MORTGAGE SECURITIES
Max % (MV) 70.0 9.2 Compliant
Max % Issuer (MV; Agencies & Agency CMOs) 40.0 9.2 Compliant Max Maturity (Years) 7.0 6.7 Compliant
ASSET-BACKED SECURITIES (ABS)
Max % (MV; Non Agency ABS & MBS) 20.0 6.4 Compliant
Max % Issuer (MV) 5.0 1.1 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
BANKERS' ACCEPTANCES
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant
CAMP
Max % (MV) 30.0 11.5 Compliant
COLLATERALIZED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 3.0 0.0 Compliant
COMMERCIAL PAPER
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant
CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 18.9 Compliant
Max % Issuer (MV) 5.0 1.1 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant
FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE CD/
TD)
Max % (MV) 30.0 0.0 Compliant
107 of 11211
CONFIDENTIAL | 4
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years)3 0.0 Compliant
FEDERAL AGENCIES
Max % (MV) 70.0 3.7 Compliant
Max % Issuer (MV; Agencies & Agency CMOs) 40.0 9.2 Compliant Max Callables (MV) 20.0 3.4 Compliant
Max Maturity (Years)72 Compliant
LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 73.9 Compliant
LOCAL GOVERNMENT INVESTMENT POOL (LGIP)
Max % (MV) 30.0 6.9 Compliant
MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 2.0 Compliant
Max % Issuer (MV) 10.0 2.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant
MORTGAGE-BACKED SECURITIES (NON-AGENCY)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 20.0 1.5 Compliant
Max % Issuer (MV) 5.0 1.5 Compliant
Max Maturity (Years)76 Compliant
Min Rating (A- by 1 or A-1 by 1) 0.0 0.0 Compliant
MUNICIPAL SECURITIES (OTHER STATES)
Max % (MV) 20.0 0.4 Compliant
Max % Issuer (MV) 5.0 0.4 Compliant
Max Maturity (Years)74 Compliant
Min Rating (A- by 1 or A-1 by 1) 0.0 0.0 Compliant
MUTUAL FUNDS
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 10.0 0.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant
108 of 11211
CONFIDENTIAL | 5
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
STATEMENT OF COMPLIANCE
Rules Name Limit Actual Compliance
Status Notes
NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant
REPURCHASE AGREEMENTS
Max % (MV) 10.0 0.0 Compliant
Max % Issuer (MV) 10.0 0.0 Compliant
Max Maturity (Days) 90.0 0.0 Compliant
SRI PROHIBITED INVESTMENTS
Prohibited Investment - Fossil Fuels 0.0 0.0 Compliant
Prohibited Investments - Energy 0.0 0.0 Compliant
Prohibited Investments - Firearms 0.0 0.0 Compliant
Prohibited Investments - Tobacco 0.0 0.0 Compliant
SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 0.8 Compliant
Max % Issuer (MV) 10.0 0.5 Compliant
Max Maturity (Years) 5 3 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
TREASURIES, FEDERAL AGENCY SECURITIES, AGENCY
MORTGAGE SECURITIES, MUNICIPAL SECURITIES
Max % 5-7 Years Maturities (MV) 10.0 2.3 Compliant
U.S. TREASURIES
Max % (MV) 100.0 26.4 Compliant
Max Maturity (Years) 7 4 Compliant
109 of 11211
CONFIDENTIAL | 6
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
RECONCILIATION SUMMARY
Accrual Activity Summary
Fair Market Activity Summary
Month to Date Fiscal Year to Date
(07/01/2025)
Beginning Book Value 598,714,295.40 606,655,169.32
Maturities/Calls (6,292,631.10) (27,492,631.10)
Principal Paydowns (825,581.73) (4,673,833.79)
Purchases 24,856,514.75 443,537,801.94
Sales (7,531,730.80) (420,275,465.89)
Change in Cash, Payables, Receivables (327,536.20) (20,729.69) Amortization/Accretion 76,207.29 640,170.18
Realized Gain (Loss) 19,989.09 319,045.72
Ending Book Value 608,689,526.70 608,689,526.70
Month to Date Fiscal Year to Date
(07/01/2025)
Beginning Market Value 604,276,188.38 608,911,488.86
Maturities/Calls (6,292,631.10) (27,492,631.10)
Principal Paydowns (825,581.73) (4,673,833.79)
Purchases 24,856,514.75 443,537,801.94
Sales (7,531,730.80) (420,275,465.89)
Change in Cash, Payables, Receivables (327,536.20) (20,729.69) Amortization/Accretion 76,207.29 640,170.18
Change in Net Unrealized Gain (Loss) (4,819,483.86) (1,513,910.42) Realized Gain (Loss) 19,989.09 319,045.72
Ending Market Value 609,431,935.82 609,431,935.82
Maturities / Calls
Month to Date (6,292,631.10)
Fiscal Year to Date (27,492,631.10)
Principal Paydowns
Month to Date (825,581.73)
Fiscal Year to Date (4,673,833.79)
Purchases
Month to Date 24,856,514.75
Fiscal Year to Date 443,537,801.94
Sales
Month to Date (7,531,730.80)
Fiscal Year to Date (420,275,465.89)
Interest Received
Month to Date 1,837,799.53
Fiscal Year to Date 15,622,112.36
Purchased / Sold Interest
Month to Date 0.00
Fiscal Year to Date (7,751.76)
110 of 11211
CONFIDENTIAL | 7
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
44934FAD7 HALST 2024-B A3 5.41
05/17/2027 533,853.04 05/14/20245.41%
533,838.19
533,847.44
100.23
4.08%
535,073.42
1,283.62
0.09%
1,225.99
NA/AAA
AAA
1.13 0.16
47800BAC2 JDOT 2022-C A3 5.09
06/15/2027 121,403.63 10/12/20225.15%
121,394.21
121,401.26
100.09
4.39%
121,514.84
274.64
0.02%
113.57
Aaa/NA
AAA
1.21 0.09
36269WAD1 GMALT 2024-2 A3 5.39
07/20/2027 1,482,770.06 --4.88%
1,498,094.44
1,485,612.22
100.23
4.22%
1,486,107.78
2,442.04
0.24%
495.56
NA/AAA
AAA
1.30 0.18
47800CAC0 JDOT 2023 A3 5.01 11/15/2027 552,198.58 --
4.17%
552,288.78
552,204.86
100.29
4.10%
553,782.29
1,229.56
0.09%
1,577.43
Aaa/NA
AAA
1.63 0.29
44935WAD9 HALST 2025-A A3 4.83
01/18/2028 150,000.00 09/03/20254.02%
151,535.16
150,977.77
100.58
4.14%
150,874.35
322.00
0.02%
(103.42)
NA/AAA
AAA
1.80 0.79
58770JAD6 MBALT 2024-A A3 5.32
01/18/2028 551,013.17 05/17/20245.73%
550,948.69
550,981.44
100.53
4.12%
553,931.88
1,302.84
0.09%
2,950.45
Aaa/NA
AAA
1.80 0.42
44935WAD9 HALST 2025-A A3 4.83
01/18/2028 1,530,000.00 01/14/20254.83%
1,529,885.40
1,529,930.99
100.58
4.14%
1,538,918.37
3,284.40
0.25%
8,987.38
NA/AAA
AAA
1.80 0.79
44935DAD1 HALST 2025-B A3 4.53
04/17/2028 1,180,000.00 04/24/20254.53%
1,179,893.45
1,179,926.51
100.39
4.20%
1,184,594.92
2,375.73
0.19%
4,668.41
NA/AAA
AAA
2.05 1.04
362962AD4 GMALT 2025-2 A3 4.58
05/22/2028 1,725,000.00 05/20/20254.84%
1,724,971.37
1,724,979.44
100.47
4.11%
1,733,186.85
2,414.04
0.28%
8,207.41
NA/AAA
AAA
2.14 0.92
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 2,345,000.00 09/07/2023
5.23%
2,344,349.97
2,344,680.50
100.54
3.99%
2,357,721.63
5,377.87
0.39%
13,041.12
NA/AAA
AAA
2.46 0.44
437930AC4 HAROT 2024-2 A3 5.27
11/20/2028 600,577.64 05/14/20245.27%
600,504.67
600,534.85
100.76
4.16%
605,157.04
1,142.93
0.10%
4,622.19
NA/AAA
AAA
2.64 0.65
161571HV9 CHAIT 241 A 4.6 01/16/2029 3,000,000.00 04/15/2025
4.36%
3,013,945.31
3,006,307.03
100.45
4.05%
3,013,593.00
6,133.33
0.49%
7,285.97
NA/AAA
AAA
2.80 0.76
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 790,881.16 06/04/20245.18%
790,761.02
790,807.03
100.66
4.30%
796,091.48
682.79
0.13%
5,284.46
Aaa/AAA
NA
2.91 0.70
43813YAC6 HAROT 2024-3 A3 4.57
03/21/2029 1,653,456.70 08/09/20244.66%
1,653,196.94
1,653,288.24
100.36
4.13%
1,659,356.24
2,098.97
0.27%
6,068.00
Aaa/NA
AAA
2.97 0.72
58768YAD7 MBALT 2025-A A3 4.61
04/16/2029 150,000.00 09/11/20253.75%
152,496.09
151,929.82
100.72
4.21%
151,086.60
307.33
0.02%
(843.22)
NA/AAA
AAA
3.04 1.61
02582JKH2 AMXCA 2024-1 A 5.23
04/16/2029 1,760,000.00 04/16/20245.30%
1,759,639.20
1,759,779.63
101.32
3.97%
1,783,161.60
4,091.02
0.29%
23,381.97
NA/AAA
AAA
3.04 0.99
05522RDJ4 BACCT 2024-1 A 4.93
05/15/2029 1,125,000.00 06/06/20244.93%
1,124,936.89
1,124,960.11
101.03
4.02%
1,136,637.00
2,465.00
0.19%
11,676.89
Aaa/AAA
NA
3.12 1.07
111 of 11211
CONFIDENTIAL | 8
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
02589BAE0 AMXCA 2024-3 A 4.65
07/15/2027 2,000,000.00 04/15/20254.35%
2,014,687.50
2,008,418.45
100.75
4.09%
2,014,956.00
4,133.33
0.33%
6,537.55
NA/AAA
AAA
1.29 1.23
34535VAD6 FORDO 2024-D A3 4.61
08/15/2029 1,850,000.00 11/19/20244.66%
1,849,940.62
1,849,957.64
100.61
4.14%
1,861,366.40
3,790.44
0.31%
11,408.76
Aaa/NA
AAA
3.38 1.19
47800DAD6 JDOT 2025 A3 4.23 09/17/2029 1,525,000.00 03/04/2025
5.09%
1,524,904.08
1,524,926.51
100.28
4.08%
1,529,260.85
2,867.00
0.25%
4,334.34
Aaa/NA
AAA
3.47 1.49
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029 3,525,000.00 --4.32%
3,524,382.77
3,524,530.40
100.41
4.05%
3,539,427.83
6,721.00
0.58%
14,897.43
Aaa/AAA
NA
3.54 1.46
44935CAD3 HART 2025-A A3 4.32
10/15/2029 1,925,000.00 03/04/20254.84%
1,924,716.06
1,924,781.21
100.23
4.17%
1,929,500.65
3,696.00
0.32%
4,719.44
NA/AAA
AAA
3.54 1.25
437921AD1 HAROT 252 A3 4.15 10/15/2029 1,170,000.00 04/29/2025
4.15%
1,169,869.31
1,169,895.75
100.07
4.14%
1,170,765.18
2,158.00
0.19%
869.43
Aaa/NA
AAA
3.54 1.43
89231HAD8 TAOT 2025-B A3 4.34
11/15/2029 150,000.00 09/11/20253.84%
151,769.53
151,485.44
100.37
4.12%
150,561.15
289.33
0.02%
(924.29)
NA/AAA
AAA
3.63 1.42
89231HAD8 TAOT 2025-B A3 4.34
11/15/2029 1,145,000.00 04/24/20254.82%
1,144,934.39
1,144,947.67
100.37
4.12%
1,149,283.45
2,208.58
0.19%
4,335.78
NA/AAA
AAA
3.63 1.42
362955AD8 GMCAR 2025-1 A3 4.62
12/17/2029 1,240,000.00 01/09/20255.03%
1,239,907.87
1,239,930.48
100.55
4.09%
1,246,855.96
2,387.00
0.20%
6,925.48
Aaa/NA
AAA
3.71 0.97
02582JKP4 AMXCA 2025-2 A 4.28
04/15/2030 3,075,000.00 05/06/20254.28%
3,074,944.34
3,074,954.34
100.35
4.14%
3,085,645.65
5,849.33
0.51%
10,691.31
NA/AAA
AAA
4.04 1.91
362549AD9 GMCAR 2025-2 A3 4.28
04/16/2030 150,000.00 09/03/20253.96%
151,148.44
150,960.91
100.19
4.17%
150,278.25
267.50
0.02%
(682.66)
Aaa/AAA
NA
4.04 1.28
92970QAJ4 WFCIT 2025-1 A 4.34
05/15/2030 150,000.00 09/03/20253.90%
151,804.69
151,421.38
100.52
4.12%
150,779.10
289.33
0.02%
(642.28)
NA/AAA
AAA
4.12 1.99
05522RDK1 BACCT 2025-1 A 4.31
05/15/2030 112,000.00 09/11/20253.74%
113,693.13
113,344.44
100.38
4.16%
112,421.01
214.54
0.02%
(923.43)
NA/AAA
AAA
4.12 1.99
17305EHA6 CCCIT 2025-A1 A1 4.3
06/21/2030 1,600,000.00 10/09/20253.90%
1,616,000.00
1,613,189.85
100.30
4.16%
1,604,726.40
19,111.11
0.26%
(8,463.45)
Aaa/AAA
NA
4.22 2.08
161571HZ0 CHAIT 2025-1 A 4.16 07/15/2030 100,000.00 09/08/2025
3.82%
100,992.19
100,797.57
100.25
4.08%
100,254.40
184.89
0.02%
(543.17)
NA/AAA
AAA
4.29 2.14
Total ABS 38,968,153.98 4.67%
39,036,374.70
39,005,691.16
100.48
4.11%
39,156,871.55
91,395.53
6.43%
151,180.40
2.93 1.10
AGENCY
3130ALWV2 FEDERAL HOME LOAN BANKS
1.35 04/21/2026 3,000,000.00 04/21/20211.35%
3,000,000.00
3,000,000.00
99.86 3.84%
2,995,824.00
18,000.00
0.49%
(4,176.00)
Aa1/AA+
AA+
0.06 0.06
112 of 11211
CONFIDENTIAL | 9
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3130ALZQ0 FEDERAL HOME LOAN BANKS
1.25 04/28/2026 5,000,000.00 04/28/20211.25%
5,000,000.00
5,000,000.00
99.81 3.75%
4,990,575.00
26,562.50
0.82%
(9,425.00)
Aa1/AA+
AA+
0.08 0.07
3133ENHV5 FEDERAL FARM CREDIT BANKS
FUNDING CORP 1.39 06/22/2026 5,000,000.00 12/21/20211.39% 5,000,000.00
5,000,000.00
99.46 3.81%
4,972,835.00
19,112.50
0.82%
(27,165.00)
Aa1/AA+
AA+
0.23 0.22
3133ENEM8 FEDERAL FARM CREDIT BANKS
FUNDING CORP 1.43 11/23/2026 2,750,000.00 11/16/20211.43% 2,750,000.00
2,750,000.00
98.52 3.77%
2,709,291.75
13,982.22
0.44%
(40,708.25)
Aa1/AA+
AA+
0.65 0.63
3130APWY7 FEDERAL HOME LOAN BANKS
1.35 12/07/2026 5,000,000.00 12/07/20211.35%
5,000,000.00
5,000,000.00
98.42 3.72%
4,920,765.00
21,375.00
0.81%
(79,235.00)
Aa1/AA+
AA+
0.69 0.67
3133EPME2
FEDERAL FARM CREDIT
BANKS FUNDING CORP 3.875
06/08/2028
1,900,000.00 06/06/2023
3.97%
1,891,735.00
1,896,385.48
100.15
3.80%
1,902,926.00
23,110.07
0.31%
6,540.52
Aa1/AA+
AA+
2.19 2.05
Total Agency 22,650,000.00 1.57%
22,641,735.00
22,646,385.48
99.31 3.78%
22,492,216.75
122,142.29
3.69%
(154,168.73)
0.49 0.47
AGENCY CMBS
3137BQYS0 FHMS K-056 A2 2.525
05/25/2026 568,403.98 --1.29%
595,320.54
568,896.43
99.63 3.88%
566,324.19
1,196.02
0.09%
(2,572.24)
Aa1/AA+
AAA
0.15 0.15
3137BSP72 FHMS K-058 A2 2.653
08/25/2026 410,000.00 04/12/20222.88%
405,563.67
409,654.39
99.38 3.93%
407,463.74
906.44
0.07%
(2,190.65)
Aa1/AA+
AAA
0.40 0.35
3137FG6X8 FHMS K-077 A2 3.85 05/25/2028 3,250,000.00 09/07/2023
5.87%
3,108,828.13
3,186,543.54
99.37 4.07%
3,229,495.75
10,427.08
0.53%
42,952.21
Aa1/AA+
AAA
2.15 1.95
3137FHPJ6 FHMS K-080 A2 3.926
07/25/2028 1,895,000.00 03/14/20244.68%
1,837,557.81
1,864,829.09
99.48 4.08%
1,885,130.84
6,199.81
0.31%
20,301.75
Aaa/AA+
AA+
2.32 2.16
3137FJEH8 FHMS K-081 A2 3.9 08/25/2028 6,400,000.00 --
5.01%
6,091,058.60
6,251,596.49
99.41 4.08%
6,362,387.20
20,800.00
1.04%
110,790.71
Aa1/AA+
AAA
2.40 2.22
3137FK4M5 FHMS K-085 A2 4.06 10/25/2028 1,890,000.00 03/14/2024
4.68%
1,840,978.13
1,862,959.57
99.76 4.08%
1,885,392.18
6,394.50
0.31%
22,432.61
Aaa/AA+
AA+
2.57 2.36
3137FKSH0 FHMS K-086 A2 3.859
11/25/2028 200,000.00 09/11/20253.72%
200,468.75
200,387.89
99.27 4.09%
198,544.00
643.17
0.03%
(1,843.89)
Aaa/AA+
AA+
2.65 2.43
3137FKSH0 FHMS K-086 A2 3.859
11/25/2028 1,800,000.00 07/30/20244.46%
1,756,125.00
1,773,319.26
99.27 4.09%
1,786,896.00
5,788.50
0.29%
13,576.74
Aaa/AA+
AA+
2.65 2.43
3137FKUP9 FHMS K-087 A2 3.771
12/25/2028 1,456,984.03 07/30/20244.46%
1,416,404.75
1,432,006.25
99.06 4.09%
1,443,311.69
4,578.57
0.24%
11,305.44
Aa1/AAA
AA+
2.74 2.44
3137H5YC5 FHMS K-748 A2 2.26 01/25/2029 2,500,000.00 04/11/2024
4.94%
2,221,191.41
2,337,024.15
95.16 4.12%
2,378,892.50
4,708.33
0.39%
41,868.35
Aa1/AA+
AAA
2.82 2.59
113 of 11211
CONFIDENTIAL | 10
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3137FLMV3 FHMS K-090 A2 3.422
02/25/2029 100,000.00 09/08/20253.75%
98,828.13
99,019.19
98.08 4.09%
98,079.00
285.17
0.02%
(940.19)
Aa1/AAA
AA+
2.91 2.66
3137FLN91 FHMS K-091 A2 3.505
03/25/2029 200,000.00 09/03/20253.90%
197,195.31
197,648.04
98.28 4.09%
196,561.00
584.17
0.03%
(1,087.04)
Aa1/AAA
AA+
2.98 2.68
3137FLN91 FHMS K-091 A2 3.505
03/25/2029 1,915,000.00 08/26/20244.05%
1,871,314.06
1,886,717.01
98.28 4.09%
1,882,071.58
5,593.40
0.31%
(4,645.43)
Aa1/AAA
AA+
2.98 2.68
3137H74P5 FHMS K-749 A2 2.12 03/26/2029 1,415,000.00 09/19/2024
3.84%
1,318,879.49
1,351,270.46
94.76 4.13%
1,340,909.19
2,499.83
0.22%
(10,361.28)
Aa1/AA+
AAA
2.99 2.61
3137FLYV0 FHMS K-092 A2 3.298
04/25/2029 4,540,000.00 --4.05%
4,394,229.30
4,444,922.63
97.64 4.09%
4,432,996.74
12,477.43
0.73%
(11,925.89)
Aa1/AA+
AAA
3.07 2.80
3137FNAE0 FHMS K-095 A2 2.785
06/25/2029 200,000.00 09/03/20253.92%
192,117.19
193,303.66
96.08 4.10%
192,154.20
464.17
0.03%
(1,149.46)
Aa1/AA+
AAA
3.24 2.93
3137H9D71 FHMS K-750 A2 3.0 09/25/2029 5,000,000.00 11/14/2024
4.62%
4,672,070.31
4,765,549.98
96.62 4.14%
4,831,050.00
12,500.00
0.79%
65,500.02
Aa1/AA+
AAA
3.49 2.88
3137FQKC6 FHMS K-102 A2 2.537
10/25/2029 100,000.00 09/08/20253.82%
95,156.25
95,816.91
94.83 4.12%
94,833.10
211.42
0.02%
(983.81)
Aa1/AA+
AAA
3.57 3.25
3137FREH0 FHMS K-104 A2 2.253
01/25/2030 1,950,000.00 05/02/20254.25%
1,788,820.31
1,820,013.32
93.58 4.14%
1,824,714.45
3,661.13
0.30%
4,701.13
Aa1/AA+
AAA
3.82 3.45
3137HA4B9 FHMS K-751 A2 4.412
03/25/2030 1,887,000.00 04/17/20254.29%
1,893,855.12
1,892,528.95
100.60
4.18%
1,898,306.90
6,937.87
0.31%
5,777.96
Aaa/AA+
AA+
3.98 3.29
3137FTZQ3 FHMS K-110 A2 1.477
04/25/2030 300,000.00 --3.97%
269,707.03
273,321.34
90.38 4.16%
271,126.80
369.25
0.04%
(2,194.54)
Aa1/AA+
AAA
4.07 3.71
3137FTZQ3 FHMS K-110 A2 1.477
04/25/2030 3,400,000.00 09/26/20253.99%
3,056,148.44
3,094,609.65
90.38 4.16%
3,072,770.40
4,184.83
0.50%
(21,839.25)
Aa1/AA+
AAA
4.07 3.71
3137F9Z79 FHMS K-125 A2 1.846
01/25/2031 150,000.00 02/19/20263.90%
136,412.11
136,718.14
89.80 4.22%
134,704.20
230.75
0.02%
(2,013.94)
Aa1/AA+
AAA
4.82 4.45
3137FYUJ3 FHMS K-128 A2 2.02 03/25/2031 6,775,000.00 10/21/2025
3.88%
6,179,805.66
6,228,796.61
90.45 4.23%
6,128,014.60
11,404.58
1.01%
(100,782.01)
Aa1/AA+
AAA
4.98 4.47
3137HH5X5 FHMS K757 A2 4.456
08/25/2031 5,000,000.00 01/15/20264.09%
5,081,640.63
5,078,808.70
100.55
4.31%
5,027,530.00
18,566.67
0.82%
(51,278.70)
Aaa/AA+
AA+
5.40 4.62
3137HQDH1 FHMS K-764 A2 4.12 12/25/2032 4,750,000.00 02/10/2026
4.20%
4,725,019.75
4,725,433.23
98.16 4.43%
4,662,723.50
16,308.33
0.77%
(62,709.73)
Aa1/AAA
AA+
6.74 5.69
Total Agency CMBS 58,052,388.01 4.38%
55,444,695.87
56,171,694.85
96.99 4.16%
56,232,383.75
157,921.41
9.23%
60,688.89
3.69 3.25
CASH
114 of 11211
CONFIDENTIAL | 11
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CCYUSD Receivable 710,639.01 -- 710,639.01
710,639.01
1.00 710,639.01
0.00 0.12%
0.00 Aaa/AAA
AAA
0.00 0.00
CCYUSD Receivable 177.97 -- 177.97
177.97
1.00 177.97
0.00 0.00%
0.00 Aaa/AAA
AAA
0.00 0.00
CCYUSD Receivable 20,443.65 -- 20,443.65
20,443.65
1.00 20,443.65
0.00 0.00%
0.00 Aaa/AAA
AAA
0.00 0.00
Total Cash 731,260.63
731,260.63
731,260.63
1.00 731,260.63
0.00 0.12%
0.00 0.00
0.00 CORPORATE
023135BX3 AMAZON.COM INC 1.0
05/12/2026 1,160,000.00 05/10/20211.09%
1,154,988.80
1,159,887.48
99.65 4.11%
1,155,885.48
4,478.89
0.19%
(4,002.00)
A1/AA
AA0.110.11
808513BR5 CHARLES SCHWAB CORP 1.15
05/13/2026 750,000.00 06/25/20211.14%
750,382.50
750,002.62
99.60 4.59%
746,987.25
3,306.25
0.12%
(3,015.37)
A2/AA0.12
0.12 037833DN7 APPLE INC 2.05 09/11/2026 750,000.00 12/02/2021
1.49%
768,630.00
751,121.35
99.25 3.75%
744,407.25
854.17
0.12%
(6,714.10)
Aaa/AA+
NA
0.45 0.44
06368FAC3 BANK OF MONTREAL 1.25
09/15/2026 750,000.00 09/13/20211.27%
749,092.50
749,917.00
98.68 4.20%
740,113.50
416.67
0.12%
(9,803.50)
A2/AAA0.46
0.45 931142ER0 WALMART INC 1.05 09/17/2026 185,000.00 09/08/2021
1.09%
184,650.35
184,967.64
98.68 3.96%
182,556.89
75.54 0.03%
(2,410.75)
Aa2/AA
AA
0.47 0.45
87612EBM7 TARGET CORP 1.95 01/15/2027 425,000.00 01/19/2022
1.99%
424,277.50
424,885.08
98.43 3.99%
418,331.75
1,749.58
0.07%
(6,553.33)
A2/A
A
0.79 0.77
40139LBG7 GUARDIAN LIFE GLOBAL
FUNDING 5.55 10/28/2027 790,000.00 10/25/20225.56%
789,763.00
789,925.37
101.96
4.25%
805,453.98
18,634.13
0.13%
15,528.61
Aa1/AA+
NA
1.58 1.47
89236TKQ7 TOYOTA MOTOR CREDIT CORP
4.625 01/12/2028 2,330,000.00 01/09/20234.64%
2,328,462.20
2,329,451.75
100.91
4.09%
2,351,251.93
23,647.88
0.39%
21,800.18
A1/A+
A+
1.79 1.68
78016FZW7 ROYAL BANK OF CANADA 4.9
01/12/2028 1,870,000.00 01/09/20234.91%
1,869,008.90
1,869,646.66
101.16
4.22%
1,891,609.72
20,107.69
0.31%
21,963.06
A1/A
AA1.791.68
756109AU8 REALTY INCOME CORP 3.65
01/15/2028 1,740,000.00 01/10/20234.87%
1,646,649.00
1,706,528.75
98.82 4.34%
1,719,548.04
13,407.67
0.28%
13,019.29
A3/ANA1.79
1.70 24422EWR6 JOHN DEERE CAPITAL CORP 4.75
01/20/2028 1,000,000.00 01/17/20234.38%
1,016,510.00
1,005,958.43
101.33
3.98%
1,013,270.00
9,368.06
0.17%
7,311.57
A1/A
A+
1.81 1.70
46647PEA0 JPMORGAN CHASE & CO 5.04
01/23/2028 2,000,000.00 11/20/20244.81%
2,009,120.00
2,003,415.69
100.51
4.64%
2,010,144.00
19,040.00
0.33%
6,728.31
A1/A
AA1.820.78
713448GA0 PEPSICO INC 4.45 02/07/2028 100,000.00 09/19/2025
3.73%
101,573.00
101,214.05
100.80
3.99%
100,801.40
667.50
0.02%
(412.65)
A1/A+
NA
1.86 1.67
115 of 11211
CONFIDENTIAL | 12
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
79466LAQ7 SALESFORCE INC 4.5 03/15/2028 65,000.00 03/12/2026
4.37%
65,159.05
65,154.76
100.03
4.48%
65,016.77
146.25
0.01%
(137.99)
A2/A+
NA
1.96 1.85
79466LAQ7 SALESFORCE INC 4.5 03/15/2028 2,710,000.00 03/12/2026
4.37%
2,716,571.75
2,716,394.39
100.03
4.48%
2,710,699.18
6,097.50
0.44%
(5,695.21)
A2/A+
NA
1.96 1.85
64953BBW7 NEW YORK LIFE GLOBAL
FUNDING 4.4 04/25/2028 2,615,000.00 04/22/20254.43%
2,613,169.50
2,613,739.03
100.24
4.27%
2,621,357.07
49,859.33
0.43%
7,618.04
Aa1/AA+
AAA
2.07 1.92
24422EYD5 JOHN DEERE CAPITAL CORP 4.25
06/05/2028 100,000.00 09/03/20253.93%
100,822.00
100,651.06
100.32
4.09%
100,315.40
1,369.44
0.02%
(335.66)
A1/A
A+
2.18 2.03
74340XCG4 PROLOGIS LP 4.875 06/15/2028 2,630,000.00 --
4.99%
2,617,065.10
2,624,224.30
101.18
4.31%
2,660,997.18
37,751.46
0.44%
36,772.88
A2/A
NA
2.21 1.97
14913UBB5 CATERPILLAR FINANCIAL
SERVICES CORP 4.1 08/15/2028 100,000.00 09/03/20253.96% 100,389.00
100,313.44
99.91 4.14%
99,912.60
523.89
0.02%
(400.84)
A2/A
A+
2.38 2.23
89236TNR2 TOYOTA MOTOR CREDIT CORP
4.05 09/05/2028 100,000.00 09/03/20254.00%
100,143.00
100,115.86
99.68 4.19%
99,675.50
292.50
0.02%
(440.36)
A1/A+
A+
2.43 2.28
40139LBH5 GUARDIAN LIFE GLOBAL
FUNDING 5.737 10/02/2028 725,000.00 11/29/20234.96%
748,968.50
737,411.53
103.19
4.38%
748,144.90
20,681.09
0.12%
10,733.37
Aa1/AA+
NA
2.51 2.26
532457DB1 ELI LILLY AND CO 4.0 10/15/2028 100,000.00 09/19/2025
3.86%
100,374.00
100,308.40
99.89 4.05%
99,889.20
2,455.56
0.02%
(419.20)
Aa3/A+
NA
2.54 2.33
26442CAX2 DUKE ENERGY CAROLINAS LLC
3.95 11/15/2028 2,000,000.00 12/06/20234.79%
1,927,120.00
1,961,257.25
99.21 4.27%
1,984,254.00
29,844.44
0.33%
22,996.75
Aa3/A
NA
2.63 2.43
59217GFR5 METROPOLITAN LIFE GLOBAL
FUNDING I 4.85 01/08/2029 1,500,000.00 01/03/20244.85%
1,500,060.00
1,500,033.27
101.03
4.45%
1,515,498.00
16,772.92
0.25%
15,464.73
Aa3/AAAA2.77
2.54 66815L2Q1
NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.71
01/10/2029
2,000,000.00 --
4.67%
2,003,845.16
2,002,136.20
100.88
4.37%
2,017,544.00
21,195.00
0.33%
15,407.80
Aa1/AA+
AAA
2.78 2.55
24422EXH7 JOHN DEERE CAPITAL CORP 4.5
01/16/2029 1,000,000.00 04/08/20244.91%
982,560.00
989,778.28
100.95
4.13%
1,009,532.00
9,375.00
0.17%
19,753.72
A1/A
A+
2.80 2.58
78016HZV5 ROYAL BANK OF CANADA 4.95
02/01/2029 1,200,000.00 04/08/20245.11%
1,191,588.00
1,195,037.97
101.72
4.30%
1,220,664.00
9,900.00
0.20%
25,626.03
A1/A
AA2.842.60
17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029 1,190,000.00 02/21/20244.86%
1,189,583.50
1,189,757.90
101.83
4.17%
1,211,792.47
5,611.18
0.20%
22,034.57
A1/AANA2.91
2.60 14913UAJ9 CATERPILLAR FINANCIAL
SERVICES CORP 4.85 02/27/2029 1,500,000.00 03/18/20244.84% 1,500,735.00
1,500,432.86
101.76
4.20%
1,526,355.00
6,870.83
0.25%
25,922.14
A2/A
A+
2.91 2.68
89115A2Y7 TORONTO-DOMINION BANK
4.994 04/05/2029 1,335,000.00 03/26/20244.99%
1,335,000.00
1,335,000.00
101.61
4.42%
1,356,509.52
32,594.17
0.22%
21,509.52
A2/AAA3.01
2.71 116 of 11211
CONFIDENTIAL | 13
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
06405LAH4 BANK OF NEW YORK MELLON
4.729 04/20/2029 2,750,000.00 04/17/20254.53%
2,765,317.50
2,760,501.03
100.71
4.50%
2,769,560.75
58,160.13
0.45%
9,059.72
Aa2/AAAA3.05
1.90 38141GWV2 GOLDMAN SACHS GROUP INC
3.814 04/23/2029 100,000.00 09/19/20254.43%
99,385.00
99,474.74
98.65 4.70%
98,646.30
1,673.92
0.02%
(828.44)
A2/BBB+
A
3.06 1.93
025816ED7 AMERICAN EXPRESS CO 4.731
04/25/2029 3,000,000.00 04/22/20254.70%
3,002,400.00
3,001,653.28
100.63
4.57%
3,018,963.00
61,503.00
0.50%
17,309.72
A2/AA3.07
1.91 06051GMT3 BANK OF AMERICA CORP 4.623
05/09/2029 3,000,000.00 05/14/20254.92%
2,987,190.00
2,990,075.62
100.43
4.51%
3,013,044.00
54,705.50
0.49%
22,968.38
A1/AAA3.11
1.95 57629W4T4 MASSMUTUAL GLOBAL
FUNDING II 5.15 05/30/2029 1,500,000.00 05/22/20245.17% 1,498,755.00
1,499,212.50
101.93
4.49%
1,528,938.00
25,964.58
0.25%
29,725.50
Aa3/AA+
AA+
3.16 2.85
64952WFG3 NEW YORK LIFE GLOBAL
FUNDING 5.0 06/06/2029 1,135,000.00 06/03/20245.04%
1,132,820.80
1,133,613.24
101.64
4.44%
1,153,614.00
18,128.47
0.19%
20,000.76
Aa1/AA+
AAA
3.18 2.87
437076BY7 HOME DEPOT INC 2.95
06/15/2029 1,700,000.00 09/12/20243.98%
1,624,826.00
1,649,292.19
96.21 4.23%
1,635,571.70
14,766.39
0.27%
(13,720.49)
A2/A
A
3.21 2.99
437076DC3 HOME DEPOT INC 4.75
06/25/2029 1,700,000.00 06/18/20244.82%
1,694,985.00
1,696,756.45
101.54
4.23%
1,726,127.30
21,533.33
0.28%
29,370.85
A2/A
A
3.24 2.87
756109CB8 REALTY INCOME CORP 4.0
07/15/2029 100,000.00 09/03/20254.14%
99,487.00
99,563.04
98.88 4.37%
98,881.40
844.44
0.02%
(681.64)
A3/ANA3.29
3.02 713448FX1 PEPSICO INC 4.5 07/17/2029 2,035,000.00 07/15/2024
4.53%
2,031,845.75
2,032,921.93
100.96
4.18%
2,054,558.39
18,823.75
0.34%
21,636.46
A1/A+
NA
3.30 2.94
025816EJ4 AMERICAN EXPRESS CO 4.351
07/20/2029 100,000.00 09/03/20254.14%
100,564.00
100,451.74
99.93 4.41%
99,928.60
858.11
0.02%
(523.14)
A2/AA3.30
2.15 46647PAV8 JPMORGAN CHASE & CO 4.203
07/23/2029 3,000,000.00 09/04/20254.08%
3,010,230.00
3,008,207.34
99.43 4.68%
2,982,753.00
23,817.00
0.49%
(25,454.34)
A1/A
AA3.312.16
89236TMK8 TOYOTA MOTOR CREDIT CORP
4.55 08/09/2029 2,000,000.00 08/07/20244.57%
1,998,320.00
1,998,872.03
100.59
4.36%
2,011,882.00
13,144.44
0.33%
13,009.97
A1/A+
A+
3.36 3.06
532457CQ9 ELI LILLY AND CO 4.2 08/14/2029 1,925,000.00 08/12/2024
4.25%
1,920,784.25
1,922,157.95
100.09
4.17%
1,926,822.98
10,555.42
0.32%
4,665.03
Aa3/A+
NA
3.37 3.10
171239AL0 CHUBB INA HOLDINGS LLC 4.65
08/15/2029 1,441,000.00 08/12/20244.52%
1,449,141.56
1,446,447.36
101.12
4.29%
1,457,201.16
8,561.94
0.24%
10,753.80
A2/A
A
3.38 3.01
30303M8S4 META PLATFORMS INC 4.3
08/15/2029 1,520,000.00 08/12/20244.33%
1,517,640.24
1,518,407.87
100.45
4.16%
1,526,780.72
8,351.56
0.25%
8,372.85
Aa3/AANA3.38
3.02 95000U4A8 WELLS FARGO & CO 4.078
09/15/2029 100,000.00 09/19/20254.32%
99,933.00
99,941.80
98.90 4.55%
98,899.90
181.24
0.02%
(1,041.90)
A1/BBB+
A+
3.46 2.30
40139LBJ1 GUARDIAN LIFE GLOBAL
FUNDING 4.179 09/26/2029 2,000,000.00 09/23/20244.18%
2,000,000.00
2,000,000.00
99.08 4.47%
1,981,526.00
1,160.83
0.33%
(18,474.00)
Aa1/AA+
NA
3.49 3.21
117 of 11211
CONFIDENTIAL | 14
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
61748UAK8 MORGAN STANLEY 4.133
10/18/2029 2,950,000.00 10/17/20254.25%
2,950,370.50
2,950,315.88
98.84 4.61%
2,915,774.10
53,849.55
0.48%
(34,541.78)
A1/AA+3.55
2.35 38141GD27 GOLDMAN SACHS GROUP INC
4.153 10/21/2029 3,155,000.00 --4.29%
3,155,396.00
3,155,337.47
99.07 4.54%
3,125,560.70
58,234.29
0.51%
(29,776.77)
A2/BBB+
A
3.56 2.35
00287YBX6 ABBVIE INC 3.2 11/21/2029 2,200,000.00 09/24/2025
4.04%
2,130,128.00
2,138,781.45
96.41 4.28%
2,120,945.20
25,422.22
0.35%
(17,836.25)
A2/ANA3.64
3.35 857449AE2 STATE STREET BANK AND TRUST
CO 4.782 11/23/2029 3,000,000.00 11/29/20244.60%
3,024,420.00
3,017,901.73
101.61
4.30%
3,048,336.00
51,008.00
0.50%
30,434.27
Aa2/AAAA3.65
3.27 26444HAH4 DUKE ENERGY FLORIDA LLC 2.5
12/01/2029 2,000,000.00 12/02/20244.63%
1,812,380.00
1,862,165.13
93.73 4.37%
1,874,522.00
16,666.67
0.31%
12,356.87
A1/A
NA
3.67 3.42
59217GFT1 METROPOLITAN LIFE GLOBAL
FUNDING I 4.9 01/09/2030 2,490,000.00 01/02/20254.95%
2,484,870.60
2,486,126.26
100.87
4.65%
2,511,568.38
27,791.17
0.41%
25,442.12
Aa3/AAAA3.78
3.38 61747YFK6 MORGAN STANLEY 5.173
01/16/2030 3,000,000.00 02/12/20255.18%
2,998,620.00
2,999,016.76
101.41
4.75%
3,042,195.00
32,331.25
0.50%
43,178.24
A1/AA+3.80
2.55 6174468G7 MORGAN STANLEY 4.431
01/23/2030 100,000.00 09/03/20254.25%
100,571.00
100,474.53
99.55 4.85%
99,549.80
836.97
0.02%
(924.73)
A1/AA+3.82
2.59 63743HFX5
NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP
4.95 02/07/2030
1,500,000.00 02/05/2025
4.88%
1,504,310.00
1,503,306.33
101.74
4.45%
1,526,034.00
11,137.50
0.25%
22,727.67
A2/NA
A
3.86 3.39
02665WFY2 AMERICAN HONDA FINANCE
CORP 4.8 03/05/2030 2,000,000.00 03/03/20254.82%
1,998,240.00
1,998,617.83
99.95 4.81%
1,999,018.00
6,933.33
0.33%
400.17
A3/BBB+
NA
3.93 3.53
637432NV3
NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP
2.4 03/15/2030
100,000.00 09/19/2025
4.02%
93,433.00
94,200.15
92.85 4.39%
92,849.70
106.67
0.02%
(1,350.45)
A1/AA+3.96
3.70 12572QAL9 CME GROUP INC 4.4 03/15/2030 100,000.00 09/19/2025
4.02%
101,511.00
101,331.41
100.30
4.32%
100,302.40
195.56
0.02%
(1,029.01)
Aa3/AAAA3.96
3.52 00287YDZ9 ABBVIE INC 4.875 03/15/2030 100,000.00 09/19/2025
4.04%
103,335.00
102,938.62
101.99
4.32%
101,994.90
216.67
0.02%
(943.72)
A2/ANA3.96
3.50 40139LBK8 GUARDIAN LIFE GLOBAL
FUNDING 4.798 04/28/2030 2,000,000.00 04/23/20254.80%
2,000,000.00
2,000,000.00
100.58
4.64%
2,011,538.00
40,783.00
0.33%
11,538.00
Aa1/AA+
NA
4.08 3.59
665859AV6 NORTHERN TRUST CORP 1.95
05/01/2030 100,000.00 09/19/20254.01%
91,417.00
92,391.65
91.01 4.38%
91,009.00
812.50
0.01%
(1,382.65)
A2/A+
A+
4.08 3.82
57629TBX4 MASSMUTUAL GLOBAL
FUNDING II 4.55 05/07/2030 2,000,000.00 05/01/20254.58% 1,997,340.00
1,997,819.27
99.67 4.64%
1,993,496.00
36,400.00
0.33%
(4,323.27)
Aa3/AA+
AA+
4.10 3.63
341081GP6 FLORIDA POWER & LIGHT CO
4.625 05/15/2030 100,000.00 09/11/20253.99%
102,612.00
102,292.84
100.97
4.36%
100,969.10
1,747.22
0.02%
(1,323.74)
Aa2/A+
AA4.123.52
118 of 11211
CONFIDENTIAL | 15
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
747525BU6 QUALCOMM INC 4.5 05/20/2030 100,000.00 09/19/2025
4.03%
101,953.00
101,729.77
100.58
4.34%
100,583.10
1,637.50
0.02%
(1,146.67)
A2/A
NA
4.14 3.61
46647PDF0 JPMORGAN CHASE & CO 4.565
06/14/2030 100,000.00 09/03/20254.29%
100,958.00
100,812.81
100.09
4.73%
100,094.00
1,356.82
0.02%
(718.81)
A1/A
AA4.212.91
26444HAJ0 DUKE ENERGY FLORIDA LLC 1.75
06/15/2030 100,000.00 09/03/20254.23%
89,373.00
90,645.80
89.48 4.52%
89,480.70
515.28
0.01%
(1,165.10)
A1/A
NA
4.21 3.95
74464AAC5 PUBLIC STORAGE OPERATING CO
4.375 07/01/2030 100,000.00 09/03/20254.26%
100,473.00
100,415.89
99.87 4.41%
99,866.80
1,093.75
0.02%
(549.09)
A2/A
NA
4.25 3.80
828807DK0 SIMON PROPERTY GROUP LP
2.65 07/15/2030 100,000.00 09/03/20254.23%
93,096.00
93,908.92
92.87 4.50%
92,867.00
559.44
0.02%
(1,041.92)
A3/A
NA
4.29 3.96
828807DK0 SIMON PROPERTY GROUP LP
2.65 07/15/2030 4,000,000.00 08/19/20254.32%
3,706,760.00
3,743,455.96
92.87 4.50%
3,714,680.00
22,377.78
0.61%
(28,775.96)
A3/A
NA
4.29 3.96
06051GHV4 BANK OF AMERICA CORP 3.194
07/23/2030 100,000.00 09/03/20254.57%
96,015.00
96,482.11
95.91 4.67%
95,906.00
603.31
0.02%
(576.11)
A1/AAA4.31
3.08 06406RBK2 BANK OF NEW YORK MELLON
CORP 4.596 07/26/2030 100,000.00 09/03/20254.11%
101,729.00
101,474.70
100.55
4.63%
100,545.50
829.83
0.02%
(929.20)
Aa3/A
AA4.323.03
437076DJ8 HOME DEPOT INC 3.95
09/15/2030 75,000.00 09/08/20254.03%
74,730.75
74,759.95
98.70 4.27%
74,023.43
131.67
0.01%
(736.52)
A2/A
A
4.46 4.03
58933YBQ7 MERCK & CO INC 4.15
09/15/2030 100,000.00 09/19/20254.05%
100,445.00
100,397.46
99.43 4.29%
99,425.90
184.44
0.02%
(971.56)
Aa3/A+
NA
4.46 4.02
437076DJ8 HOME DEPOT INC 3.95
09/15/2030 3,000,000.00 09/08/20254.03%
2,989,230.00
2,990,397.83
98.70 4.27%
2,960,937.00
5,266.67
0.49%
(29,460.83)
A2/A
A
4.46 4.03
40139LBN2 GUARDIAN LIFE GLOBAL
FUNDING 4.327 10/06/2030 100,000.00 09/30/20254.33%
100,000.00
100,000.00
98.86 4.61%
98,856.90
2,103.40
0.02%
(1,143.10)
Aa1/AA+
NA
4.52 3.97
141781CF9 CARGILL INC 4.125 10/23/2030 2,200,000.00 10/20/2025
4.14%
2,198,343.40
2,198,488.56
98.55 4.48%
2,168,130.80
39,829.17
0.36%
(30,357.76)
A2/A
NA
4.56 4.04
665859AY0 NORTHERN TRUST CORP 4.15
11/19/2030 3,000,000.00 11/13/20254.15%
2,999,880.00
2,999,888.74
99.10 4.37%
2,973,063.00
45,650.00
0.49%
(26,825.74)
A2/A+
A+
4.64 4.11
63743HGC0
NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP
4.3 12/10/2030
2,000,000.00 12/10/2025
4.26%
2,003,480.00
2,003,264.80
98.85 4.57%
1,976,948.00
26,516.67
0.32%
(26,316.80)
A2/NA
A
4.70 4.15
64952WFR9 NEW YORK LIFE GLOBAL
FUNDING 4.25 01/09/2031 2,190,000.00 01/05/20264.29%
2,186,496.00
2,186,653.35
98.81 4.53%
2,164,017.84
21,200.42
0.36%
(22,635.51)
Aa1/AA+
AAA
4.78 4.23
66815L2Z1
NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.3
01/13/2031
2,715,000.00 01/06/2026
4.30%
2,714,755.65
2,714,766.09
98.59 4.63%
2,676,761.94
25,294.75
0.44%
(38,004.15)
Aa1/AA+
AAA
4.79 4.23
119 of 11211
CONFIDENTIAL | 16
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
6944PL3M9 PACIFIC LIFE GLOBAL FUNDING II
4.375 02/03/2031 75,000.00 02/09/20264.26%
75,396.00
75,385.11
99.29 4.54%
74,465.55
528.65
0.01%
(919.56)
Aa3/AAAA4.85
4.28 6944PL3M9 PACIFIC LIFE GLOBAL FUNDING II
4.375 02/03/2031 2,000,000.00 01/29/20264.34%
2,002,760.00
2,002,673.84
99.29 4.54%
1,985,748.00
14,097.22
0.33%
(16,925.84)
Aa3/AAAA4.85
4.28 92826CAZ5 VISA INC 4.1 02/12/2031 2,690,000.00 02/03/2026
4.13%
2,686,395.40
2,686,490.15
99.90 4.12%
2,687,339.59
15,011.69
0.44%
849.44
Aa3/AANA4.87
4.35 Total Corporate 115,566,000.00 4.43%
114,791,109.71
114,981,327.62
99.73 4.41%
115,201,620.49
1,299,089.67
18.90%
220,292.87
3.30 2.80
LAIF
90LAIF$00 Local Agency Investment Fund
State Pool 73,905,797.37 --3.82%
73,905,797.37
73,905,797.37
1.00 3.82%
73,905,797.37
0.00 12.13%
0.00 NA/NA
NA
0.00 0.00
Total LAIF 73,905,797.37 3.82%
73,905,797.37
73,905,797.37
1.00 3.82%
73,905,797.37
0.00 12.13%
0.00 0.00
0.00 LOCAL GOV
INVESTMENT
POOL
90CAMP$00 CAMP 69,794,954.54 --
3.80%
69,794,954.54
69,794,954.54
1.00 3.80%
69,794,954.54
0.00 11.45%
0.00 NA/AAAm
NA
0.00 0.00
90SMCP$00 San Mateo County Investment
Pool 41,963,470.77 --3.93%
41,963,470.77
41,963,470.77
1.00 3.93%
41,963,470.77
0.00 6.89%
0.00 NA/NA
NA
0.00 0.00
Total Local Gov
Investment Pool 111,758,425.31 3.85%
111,758,425.31
111,758,425.31
1.00 3.85%
111,758,425.31
0.00 18.34%
0.00 0.00
0.00 MONEY MARKET
FUND
X9X9USDDTP38 DREYFUS TRS SEC INST 53,601.30 --
3.52%
53,601.30
53,601.30
1.00 3.52%
53,601.30
0.00 0.01%
0.00 Aaa/
AAAm
AAA
0.00 0.00
X9X9USDDTP38 DREYFUS TRS SEC INST 12,250,204.44 --
3.52%
12,250,204.44
12,250,204.44
1.00 3.52%
12,250,204.44
0.00 2.01%
0.00 Aaa/
AAAm
AAA
0.00 0.00
Total Money
Market Fund 12,303,805.74 3.52%
12,303,805.74
12,303,805.74
1.00 3.52%
12,303,805.74
0.00 2.02%
0.00 0.00
0.00 120 of 11211
CONFIDENTIAL | 17
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
MUNICIPAL
BONDS
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029 2,880,000.00 10/30/20244.38%
2,895,177.60
2,890,685.73
101.76
3.93%
2,930,765.76
21,600.00
0.48%
40,080.03
Aa2/AAAA3.34
3.05 57582TEA6
MASSACHUSETTS
COMMONWEALTH 4.35
06/01/2030
2,500,000.00 06/10/2025
4.32%
2,503,250.00
2,502,734.38
101.25
4.02%
2,531,347.50
36,250.00
0.42%
28,613.12
Aa1/AA+
AA+
4.17 3.73
13063DYT9 CALIFORNIA ST 1.75 11/01/2030 2,000,000.00 08/20/2025
4.05%
1,786,820.00
1,811,866.97
90.27 4.10%
1,805,376.00
14,583.33
0.30%
(6,490.97)
Aa2/AAAA4.59
4.29 13063ESC1 CALIFORNIA ST 4.35 11/01/2032 100,000.00 10/31/2025
4.26%
100,532.00
100,501.56
99.70 4.40%
99,701.70
1,752.08
0.02%
(799.86)
Aa2/AAAA6.59
5.57 13063ESC1 CALIFORNIA ST 4.35 11/01/2032 4,500,000.00 10/31/2025
4.26%
4,523,940.00
4,522,570.39
99.70 4.40%
4,486,576.50
78,843.75
0.74%
(35,993.89)
Aa2/AAAA6.59
5.57 Total Municipal
Bonds 11,980,000.00 4.27%
11,809,719.60
11,828,359.04
99.11 4.16%
11,853,767.46
153,029.17
1.95%
25,408.42
4.96 4.36
SUPRANATIONAL
4581X0DV7
INTER-AMERICAN
DEVELOPMENT BANK 0.875
04/20/2026
1,520,000.00 04/13/2021
0.97%
1,513,038.40
1,519,927.56
99.84 3.84%
1,517,613.60
5,948.06
0.25%
(2,313.96)
Aaa/AAA
NA
0.05 0.05
459058LN1
INTERNATIONAL BANK FOR
RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
3,250,000.00 12/12/2024
4.25%
3,197,090.00
3,211,275.15
100.04
3.86%
3,251,170.00
57,720.00
0.53%
39,894.85
Aaa/AAA
NA
3.54 3.22
Total
Supranational 4,770,000.00 3.21%
4,710,128.40
4,731,202.71
99.97 3.86%
4,768,783.60
63,668.06
0.78%
37,580.89
2.43 2.21
US TREASURY
91282CLB5 UNITED STATES TREASURY 4.375
07/31/2026 4,000,000.00 07/30/20244.36%
4,001,250.00
4,000,207.19
100.21
3.71%
4,008,420.00
29,005.52
0.66%
8,212.81
Aa1/AA+
AA+
0.33 0.33
91282CCP4 UNITED STATES TREASURY 0.625
07/31/2026 375,000.00 08/04/20210.68%
373,989.26
374,932.84
98.97 3.74%
371,135.63
388.47
0.06%
(3,797.21)
Aa1/AA+
AA+
0.33 0.33
91282CHU8 UNITED STATES TREASURY 4.375
08/15/2026 250,000.00 09/02/20253.89%
251,123.05
250,441.43
100.21
3.78%
250,533.25
1,359.63
0.04%
91.82 Aa1/AA+
AA+
0.38 0.37
912797RS8 UNITED STATES TREASURY
09/03/2026 250,000.00 09/11/20253.64%
241,362.67
246,239.36
98.45 3.70%
246,133.00
0.00 0.04%
(106.36)
P-1/A-1+
F1+
0.43 0.42
121 of 11211
CONFIDENTIAL | 18
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CCZ2 UNITED STATES TREASURY 0.875
09/30/2026 2,240,000.00 --1.08%
2,217,766.81
2,237,765.70
98.59 3.76%
2,208,447.36
53.55 0.36%
(29,318.34)
Aa1/AA+
AA+
0.50 0.49
91282CLS8 UNITED STATES TREASURY 4.125
10/31/2026 3,000,000.00 11/21/20244.30%
2,990,156.25
2,997,038.53
100.18
3.81%
3,005,274.00
51,961.33
0.49%
8,235.47
Aa1/AA+
AA+
0.59 0.56
91282CDG3 UNITED STATES TREASURY 1.125
10/31/2026 740,000.00 11/15/20211.25%
735,490.63
739,469.05
98.48 3.80%
728,737.94
3,495.58
0.12%
(10,731.11)
Aa1/AA+
AA+
0.59 0.57
91282CMP3 UNITED STATES TREASURY 4.125
02/28/2027 250,000.00 09/02/20253.75%
251,337.89
250,820.47
100.33
3.75%
250,816.50
896.74
0.04%
(3.97)
Aa1/AA+
AA+
0.91 0.89
91282CKE0 UNITED STATES TREASURY 4.25
03/15/2027 250,000.00 09/11/20253.60%
252,353.52
251,491.85
100.48
3.73%
251,207.00
490.83
0.04%
(284.85)
Aa1/AA+
AA+
0.96 0.93
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027 5,000,000.00 02/15/20234.17%
4,685,742.19
4,923,942.92
98.83 3.71%
4,941,250.00
341.53
0.81%
17,307.08
Aa1/AA+
AA+
1.00 0.97
91282CKR1 UNITED STATES TREASURY 4.5
05/15/2027 250,000.00 09/19/20253.61%
253,535.16
252,409.80
100.73
3.82%
251,836.00
4,257.60
0.04%
(573.80)
Aa1/AA+
AA+
1.12 1.07
91282CNL1 UNITED STATES TREASURY 3.75
06/30/2027 250,000.00 09/19/20253.59%
250,664.06
250,467.72
99.92 3.81%
249,804.75
2,356.70
0.04%
(662.97)
Aa1/AA+
AA+
1.25 1.20
91282CKZ3 UNITED STATES TREASURY 4.375
07/15/2027 4,000,000.00 07/30/20244.17%
4,022,500.00
4,009,800.74
100.68
3.83%
4,027,188.00
36,740.33
0.66%
17,387.26
Aa1/AA+
AA+
1.29 1.23
91282CLG4 UNITED STATES TREASURY 3.75
08/15/2027 250,000.00 09/02/20253.67%
250,371.09
250,261.49
99.88 3.84%
249,687.50
1,165.40
0.04%
(573.99)
Aa1/AA+
AA+
1.38 1.32
91282CLL3 UNITED STATES TREASURY 3.375
09/15/2027 250,000.00 09/11/20253.53%
249,267.58
249,468.42
99.35 3.84%
248,369.25
389.78
0.04%
(1,099.17)
Aa1/AA+
AA+
1.46 1.40
91282CLX7 UNITED STATES TREASURY 4.125
11/15/2027 250,000.00 09/19/20253.57%
252,851.56
252,156.86
100.43
3.85%
251,074.25
3,902.80
0.04%
(1,082.61)
Aa1/AA+
AA+
1.63 1.53
91282CLX7 UNITED STATES TREASURY 4.125
11/15/2027 5,000,000.00 11/14/20244.23%
4,984,765.63
4,991,727.12
100.43
3.85%
5,021,485.00
78,055.94
0.82%
29,757.88
Aa1/AA+
AA+
1.63 1.53
91282CFZ9 UNITED STATES TREASURY 3.875
11/30/2027 1,800,000.00 12/16/20223.70%
1,813,851.56
1,804,663.21
100.06
3.84%
1,801,054.80
23,377.75
0.30%
(3,608.41)
Aa1/AA+
AA+
1.67 1.58
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 3,800,000.00 12/28/20223.96%
3,785,816.67
3,795,028.44
100.07
3.83%
3,802,671.40
37,015.88
0.62%
7,642.96
Aa1/AA+
AA+
1.75 1.66
91282CMF5 UNITED STATES TREASURY 4.25
01/15/2028 250,000.00 09/02/20253.64%
253,388.67
252,565.03
100.71
3.83%
251,767.50
2,230.66
0.04%
(797.53)
Aa1/AA+
AA+
1.79 1.70
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 5,000,000.00 02/03/20233.61%
4,974,023.44
4,990,437.20
99.43 3.82%
4,971,485.00
29,005.52
0.82%
(18,952.20)
Aa1/AA+
AA+
1.84 1.75
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 3,750,000.00 --4.04%
3,743,164.07
3,747,424.26
100.33
3.82%
3,762,303.75
13,043.48
0.62%
14,879.49
Aa1/AA+
AA+
1.92 1.82
122 of 11211
CONFIDENTIAL | 19
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CMS7 UNITED STATES TREASURY 3.875
03/15/2028 250,000.00 09/19/20253.55%
251,933.59
251,525.51
100.11
3.81%
250,283.25
447.52
0.04%
(1,242.26)
Aa1/AA+
AA+
1.96 1.86
91282CHE4 UNITED STATES TREASURY 3.625
05/31/2028 5,000,000.00 --4.01%
4,928,007.82
4,962,365.95
99.61 3.81%
4,980,275.00
60,748.63
0.82%
17,909.05
Aa1/AA+
AA+
2.17 2.04
91282CHQ7 UNITED STATES TREASURY 4.125
07/31/2028 5,000,000.00 --4.42%
4,936,132.82
4,969,779.20
100.69
3.81%
5,034,375.00
34,185.08
0.83%
64,595.80
Aa1/AA+
AA+
2.33 2.19
91282CHX2 UNITED STATES TREASURY 4.375
08/31/2028 250,000.00 09/02/20253.63%
255,205.08
254,205.02
101.25
3.83%
253,125.00
951.09
0.04%
(1,080.02)
Aa1/AA+
AA+
2.42 2.27
91282CNY3 UNITED STATES TREASURY 3.375
09/15/2028 250,000.00 09/19/20253.56%
248,701.17
248,928.97
98.97 3.82%
247,422.00
389.78
0.04%
(1,506.97)
Aa1/AA+
AA+
2.46 2.33
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 3,000,000.00 10/27/20234.79%
3,011,367.19
3,005,873.36
102.55
3.83%
3,076,524.00
61,408.84
0.50%
70,650.64
Aa1/AA+
AA+
2.59 2.36
9128285M8 UNITED STATES TREASURY 3.125
11/15/2028 250,000.00 09/04/20253.57%
246,630.86
247,231.36
98.26 3.83%
245,644.50
2,956.66
0.04%
(1,586.86)
Aa1/AA+
AA+
2.63 2.46
91282CJN2 UNITED STATES TREASURY 4.375
11/30/2028 1,100,000.00 12/28/20233.83%
1,126,812.50
1,114,524.68
101.38
3.82%
1,115,210.80
16,129.81
0.18%
686.12
Aa1/AA+
AA+
2.67 2.46
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 3,750,000.00 --3.99%
3,710,400.39
3,728,058.89
99.80 3.83%
3,742,530.00
35,350.48
0.61%
14,471.11
Aa1/AA+
AA+
2.75 2.56
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 5,500,000.00 --4.30%
5,427,304.69
5,458,225.54
100.45
3.83%
5,524,920.50
36,464.09
0.91%
66,694.96
Aa1/AA+
AA+
2.84 2.64
9128286B1 UNITED STATES TREASURY 2.625
02/15/2029 250,000.00 09/02/20253.65%
241,767.58
243,138.56
96.75 3.83%
241,875.00
815.78
0.04%
(1,263.56)
Aa1/AA+
AA+
2.88 2.73
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 5,000,000.00 04/10/20244.57%
4,901,367.19
4,940,494.26
100.83
3.83%
5,041,600.00
563.52
0.83%
101,105.74
Aa1/AA+
AA+
3.00 2.80
91282CKP5 UNITED STATES TREASURY 4.625
04/30/2029 4,000,000.00 05/03/20244.48%
4,025,546.88
4,015,791.34
102.27
3.84%
4,090,624.00
77,679.56
0.67%
74,832.66
Aa1/AA+
AA+
3.08 2.80
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029 2,000,000.00 06/21/20244.26%
2,021,484.38
2,013,782.43
101.94
3.84%
2,038,750.00
30,164.84
0.33%
24,967.57
Aa1/AA+
AA+
3.17 2.89
91282CKX8 UNITED STATES TREASURY 4.25
06/30/2029 2,250,000.00 07/18/20244.09%
2,265,908.20
2,260,441.13
101.21
3.85%
2,277,245.25
24,038.33
0.37%
16,804.12
Aa1/AA+
AA+
3.25 2.98
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 4,000,000.00 07/30/20244.04%
3,993,281.25
3,995,522.06
100.45
3.86%
4,017,812.00
26,519.34
0.66%
22,289.94
Aa1/AA+
AA+
3.33 3.08
91282CFJ5 UNITED STATES TREASURY 3.125
08/31/2029 250,000.00 09/02/20253.68%
244,892.58
245,628.22
97.64 3.87%
244,111.25
679.35
0.04%
(1,516.97)
Aa1/AA+
AA+
3.42 3.19
91282CLK5 UNITED STATES TREASURY 3.625
08/31/2029 11,000,000.00 --3.49%
11,065,312.50
11,045,060.13
99.23 3.87%
10,915,784.00
34,673.91
1.79%
(129,276.13)
Aa1/AA+
AA+
3.42 3.17
123 of 11211
CONFIDENTIAL | 20
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 3,000,000.00 10/04/20243.76%
2,964,375.00
2,974,970.45
98.80 3.87%
2,963,907.00
286.89
0.49%
(11,063.45)
Aa1/AA+
AA+
3.50 3.26
91282CLR0 UNITED STATES TREASURY 4.125
10/31/2029 5,000,000.00 11/19/20244.24%
4,975,390.63
4,982,162.98
100.82
3.88%
5,041,015.00
86,602.21
0.83%
58,852.02
Aa1/AA+
AA+
3.59 3.25
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 5,000,000.00 12/16/20244.25%
4,971,289.06
4,978,748.51
100.83
3.88%
5,041,405.00
69,127.75
0.83%
62,656.49
Aa1/AA+
AA+
3.67 3.33
91282CGB1 UNITED STATES TREASURY 3.875
12/31/2029 250,000.00 09/04/20253.63%
252,451.17
252,128.08
99.93 3.89%
249,834.00
2,435.26
0.04%
(2,294.08)
Aa1/AA+
AA+
3.75 3.43
91282CGQ8 UNITED STATES TREASURY 4.0
02/28/2030 250,000.00 09/02/20253.70%
253,037.11
252,647.97
100.38
3.89%
250,947.25
869.57
0.04%
(1,700.72)
Aa1/AA+
AA+
3.91 3.58
91282CGQ8 UNITED STATES TREASURY 4.0
02/28/2030 5,000,000.00 --4.04%
4,991,093.75
4,992,731.56
100.38
3.89%
5,018,945.00
17,391.30
0.82%
26,213.44
Aa1/AA+
AA+
3.91 3.58
91282CGS4 UNITED STATES TREASURY 3.625
03/31/2030 7,000,000.00 --3.86%
6,930,742.19
6,941,102.88
98.96 3.91%
6,927,536.00
693.31
1.14%
(13,566.88)
Aa1/AA+
AA+
4.00 3.68
91282CMZ1 UNITED STATES TREASURY 3.875
04/30/2030 8,000,000.00 --4.01%
7,950,859.38
7,959,352.01
99.89 3.90%
7,991,248.00
130,165.75
1.31%
31,895.99
Aa1/AA+
AA+
4.08 3.68
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 10,000,000.00 --4.01%
9,995,507.82
9,996,250.84
100.34
3.91%
10,033,980.00
134,065.93
1.65%
37,729.16
Aa1/AA+
AA+
4.17 3.75
91282CNK3 UNITED STATES TREASURY 3.875
06/30/2030 5,000,000.00 07/09/20253.98%
4,976,562.50
4,979,982.62
99.85 3.91%
4,992,385.00
48,705.11
0.82%
12,402.38
Aa1/AA+
AA+
4.25 3.85
91282CHR5 UNITED STATES TREASURY 4.0
07/31/2030 250,000.00 09/02/20253.75%
252,792.97
252,465.67
100.32
3.92%
250,791.00
1,657.46
0.04%
(1,674.67)
Aa1/AA+
AA+
4.33 3.92
91282CNX5 UNITED STATES TREASURY 3.625
08/31/2030 250,000.00 09/11/20253.55%
250,888.67
250,790.20
98.77 3.93%
246,933.50
788.04
0.04%
(3,856.70)
Aa1/AA+
AA+
4.42 4.02
91282CNX5 UNITED STATES TREASURY 3.625
08/31/2030 10,000,000.00 --3.70%
9,967,851.56
9,971,463.84
98.77 3.93%
9,877,340.00
31,521.74
1.62%
(94,123.84)
Aa1/AA+
AA+
4.42 4.02
91282CPA3 UNITED STATES TREASURY 3.625
09/30/2030 7,500,000.00 --3.71%
7,472,851.57
7,474,227.07
98.75 3.93%
7,406,542.50
742.83
1.22%
(67,684.57)
Aa1/AA+
AA+
4.50 4.11
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030 250,000.00 12/08/20253.76%
247,031.25
247,215.88
98.16 3.93%
245,400.50
2,932.69
0.04%
(1,815.38)
Aa1/AA+
AA+
4.67 4.21
Total US Treasury 161,055,000.00 3.96%
160,189,553.06
160,625,576.80
99.99 3.86%
161,027,003.18
1,291,687.45
26.42%
401,426.38
2.98 2.74
Total Portfolio 611,740,831.03 4.00%
607,322,605.39
608,689,526.70
67.38 4.00%
609,431,935.82
3,178,933.57
100.00%
742,409.12
2.07 1.74
124 of 11211
CONFIDENTIAL | 21
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.
Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Market Value
+ Accrued 612,610,869.39
125 of 11211
CONFIDENTIAL | 22
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
ACQUISITIONS
Purchase 03/02/2026 X9X9USDDTP38 24,062.50 DREYFUS TRS SEC INST 1.000 3.55% (24,062.50) 0.00 (24,062.50) 0.00 Purchase 03/02/2026 X9X9USDDTP38 555,625.00 DREYFUS TRS SEC INST 1.000 3.55% (555,625.00) 0.00 (555,625.00) 0.00 Purchase 03/03/2026 X9X9USDDTP38 153.75 DREYFUS TRS SEC INST 1.000 3.53% (153.75) 0.00 (153.75) 0.00 Purchase 03/03/2026 X9X9USDDTP38 12,104.46 DREYFUS TRS SEC INST 1.000 3.53% (12,104.46) 0.00 (12,104.46) 0.00 Purchase 03/05/2026 X9X9USDDTP38 2,025.00 DREYFUS TRS SEC INST 1.000 3.54% (2,025.00) 0.00 (2,025.00) 0.00 Purchase 03/05/2026 X9X9USDDTP38 48,000.00 DREYFUS TRS SEC INST 1.000 3.54% (48,000.00) 0.00 (48,000.00) 0.00 Purchase 03/11/2026 X9X9USDDTP38 7,687.50 DREYFUS TRS SEC INST 1.000 3.53% (7,687.50) 0.00 (7,687.50) 0.00 Purchase 03/12/2026 90SMCP$00 7,343,640.36 San Mateo County Investment Pool 1.000 3.93% (7,343,640.36) 0.00 (7,343,640.36) 0.00 Purchase 03/13/2026 79466LAQ7 30,000.00 SALESFORCE INC 4.5 03/15/2028 100.214 4.38% (30,064.20) 0.00 (30,064.20) 0.00 Purchase 03/13/2026 79466LAQ7 1,355,000.00 SALESFORCE INC 4.5 03/15/2028 100.214 4.38% (1,357,899.70) 0.00 (1,357,899.70) 0.00 Purchase 03/13/2026 79466LAQ7 35,000.00 SALESFORCE INC 4.5 03/15/2028 100.271 4.35% (35,094.85) 0.00 (35,094.85) 0.00 Purchase 03/13/2026 79466LAQ7 1,355,000.00 SALESFORCE INC 4.5 03/15/2028 100.271 4.35% (1,358,672.05) 0.00 (1,358,672.05) 0.00 Purchase 03/13/2026 90SMCP$00 412,425.09 San Mateo County Investment Pool 1.000 3.93% (412,425.09) 0.00 (412,425.09) 0.00 Purchase 03/13/2026 90CAMP$00 5,000,000.00 CAMP 1.000 3.80% (5,000,000.00) 0.00 (5,000,000.00) 0.00 Purchase 03/16/2026 90SMCP$00 74,663.93 San Mateo County Investment Pool 1.000 3.93% (74,663.93) 0.00 (74,663.93) 0.00 Purchase 03/16/2026 X9X9USDDTP38 33,644.61 DREYFUS TRS SEC INST 1.000 3.53% (33,644.61) 0.00 (33,644.61) 0.00 Purchase 03/16/2026 X9X9USDDTP38 1,954,761.85 DREYFUS TRS SEC INST 1.000 3.53% (1,954,761.85) 0.00 (1,954,761.85) 0.00 Purchase 03/17/2026 X9X9USDDTP38 971.25 DREYFUS TRS SEC INST 1.000 3.53% (971.25) 0.00 (971.25) 0.00 Purchase 03/18/2026 X9X9USDDTP38 43,373.61 DREYFUS TRS SEC INST 1.000 3.53% (43,373.61) 0.00 (43,373.61) 0.00 Purchase 03/18/2026 X9X9USDDTP38 2,828.02 DREYFUS TRS SEC INST 1.000 3.53% (2,828.02) 0.00 (2,828.02) 0.00 Purchase 03/20/2026 90SMCP$00 21,449.03 San Mateo County Investment Pool 1.000 3.93% (21,449.03) 0.00 (21,449.03) 0.00 Purchase 03/20/2026 X9X9USDDTP38 356,610.42 DREYFUS TRS SEC INST 1.000 3.53% (356,610.42) 0.00 (356,610.42) 0.00 Purchase 03/20/2026 X9X9USDDTP38 14,845.64 DREYFUS TRS SEC INST 1.000 3.53% (14,845.64) 0.00 (14,845.64) 0.00 126 of 11211
CONFIDENTIAL | 23
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Purchase 03/23/2026 X9X9USDDTP38 61,543.30 DREYFUS TRS SEC INST 1.000 3.53% (61,543.30) 0.00 (61,543.30) 0.00 Purchase 03/23/2026 X9X9USDDTP38 6,531.29 DREYFUS TRS SEC INST 1.000 3.53% (6,531.29) 0.00 (6,531.29) 0.00 Purchase 03/25/2026 90SMCP$00 238,753.30 San Mateo County Investment Pool 1.000 3.93% (238,753.30) 0.00 (238,753.30) 0.00 Purchase 03/25/2026 X9X9USDDTP38 2,788.10 DREYFUS TRS SEC INST 1.000 3.53% (2,788.10) 0.00 (2,788.10) 0.00 Purchase 03/25/2026 X9X9USDDTP38 298,097.42 DREYFUS TRS SEC INST 1.000 3.53% (298,097.42) 0.00 (298,097.42) 0.00 Purchase 03/26/2026 X9X9USDDTP38 41,790.00 DREYFUS TRS SEC INST 1.000 3.53% (41,790.00) 0.00 (41,790.00) 0.00 Purchase 03/27/2026 90SMCP$00 27,839.88 San Mateo County Investment Pool 1.000 3.93% (27,839.88) 0.00 (27,839.88) 0.00 Purchase 03/30/2026 X9X9USDDTP38 4,750,000.00 DREYFUS TRS SEC INST 1.000 3.54% (4,750,000.00) 0.00 (4,750,000.00) 0.00 Purchase 03/30/2026 X9X9USDDTP38 29,812.50 DREYFUS TRS SEC INST 1.000 3.54% (29,812.50) 0.00 (29,812.50) 0.00 Purchase 03/31/2026 90CAMP$00 218,018.64 CAMP 1.000 3.80% (218,018.64) 0.00 (218,018.64) 0.00 Purchase 03/31/2026 X9X9USDDTP38 490,737.50 DREYFUS TRS SEC INST 1.000 3.52% (490,737.50) 0.00 (490,737.50) 0.00 Total Purchase 24,849,783.95 (24,856,514.75) 0.00 (24,856,514.75) 0.00 TOTAL
ACQUISITIONS 24,849,783.95 (24,856,514.75) 0.00 (24,856,514.75) 0.00
DISPOSITIONS
Maturity 03/30/2026 3130ALVG6 (3,000,000.00)
FEDERAL HOME
LOAN BANKS 1.375
03/30/2026
100.000 1.38% 3,000,000.00 0.00 3,000,000.00 0.00
Maturity 03/30/2026 3130ALV92 (1,750,000.00)
FEDERAL HOME
LOAN BANKS 1.05
03/30/2026
100.000 1.05% 1,750,000.00 0.00 1,750,000.00 0.00
Total Maturity (4,750,000.00) 4,750,000.00 0.00 4,750,000.00 0.00 Sale 03/13/2026 X9X9USDDTP38 (65,159.05) DREYFUS TRS SEC INST 1.000 3.53% 65,159.05 0.00 65,159.05 0.00 Sale 03/13/2026 X9X9USDDTP38 (2,716,571.75) DREYFUS TRS SEC INST 1.000 3.53% 2,716,571.75 0.00 2,716,571.75 0.00 Sale 03/19/2026 90SMCP$00 (4,750,000.00) San Mateo County Investment Pool 1.000 3.93% 4,750,000.00 0.00 4,750,000.00 0.00 Total Sale (7,531,730.80) 7,531,730.80 0.00 7,531,730.80 0.00 TOTAL
DISPOSITIONS (12,281,730.80) 12,281,730.80 0.00 12,281,730.80 0.00 127 of 11211
CONFIDENTIAL | 24
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
OTHER
TRANSACTIONS
Call Redemption 03/16/2026 438516CJ3 (1,510,000.00)
HONEYWELL
INTERNATIONAL INC
4.95 02/15/2028
102.161 4.44% 1,542,631.10 0.00 1,542,631.10 19,989.08
Total Call
Redemption (1,510,000.00) 1,542,631.10 0.00 1,542,631.10 19,989.08 Cash Transfer 03/12/2026 CCYUSD 7,343,640.36 Cash 0.00% 7,343,640.36 0.00 7,343,640.36 0.00 Cash Transfer 03/13/2026 CCYUSD 5,412,425.09 Cash 0.00% 5,412,425.09 0.00 5,412,425.09 0.00 Cash Transfer 03/16/2026 CCYUSD 74,663.93 Cash 0.00% 74,663.93 0.00 74,663.93 0.00 Cash Transfer 03/19/2026 CCYUSD (4,750,000.00) Cash 0.00% (4,750,000.00) 0.00 (4,750,000.00) 0.00 Cash Transfer 03/20/2026 CCYUSD 21,449.03 Cash 0.00% 21,449.03 0.00 21,449.03 0.00 Cash Transfer 03/25/2026 CCYUSD 238,753.30 Cash 0.00% 238,753.30 0.00 238,753.30 0.00 Cash Transfer 03/27/2026 CCYUSD 27,839.88 Cash 0.00% 27,839.88 0.00 27,839.88 0.00 Total Cash
Transfer 8,368,771.59 8,368,771.59 0.00 8,368,771.59 0.00 Coupon 03/01/2026 3137FG6X8 0.00 FHMS K-077 A2 3.85
05/25/2028 5.87% 10,427.08 0.00 10,427.08 0.00
Coupon 03/01/2026 3137FJEH8 0.00 FHMS K-081 A2 3.9
08/25/2028 5.01% 20,800.00 0.00 20,800.00 0.00
Coupon 03/01/2026 3137H5YC5 0.00 FHMS K-748 A2 2.26
01/25/2029 4.94% 4,708.33 0.00 4,708.33 0.00
Coupon 03/01/2026 3137FHPJ6 0.00 FHMS K-080 A2 3.926
07/25/2028 4.68% 6,199.81 0.00 6,199.81 0.00
Coupon 03/01/2026 3137FK4M5 0.00 FHMS K-085 A2 4.06
10/25/2028 4.68% 6,394.50 0.00 6,394.50 0.00
Coupon 03/01/2026 3137H9D71 0.00 FHMS K-750 A2 3.0
09/25/2029 4.62% 12,500.00 0.00 12,500.00 0.00
Coupon 03/01/2026 3137FKSH0 0.00 FHMS K-086 A2 3.859
11/25/2028 4.46% 5,788.50 0.00 5,788.50 0.00
Coupon 03/01/2026 3137FKUP9 0.00 FHMS K-087 A2 3.771
12/25/2028 4.46% 4,585.12 0.00 4,585.12 0.00
128 of 11211
CONFIDENTIAL | 25
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 03/01/2026 3137HA4B9 0.00 FHMS K-751 A2 4.412
03/25/2030 4.29% 6,937.87 0.00 6,937.87 0.00
Coupon 03/01/2026 3137FREH0 0.00 FHMS K-104 A2 2.253
01/25/2030 4.25% 3,661.13 0.00 3,661.13 0.00
Coupon 03/01/2026 3137HQDH1 0.00 FHMS K-764 A2 4.12
12/25/2032 4.20% 16,308.33 0.00 16,308.33 0.00
Coupon 03/01/2026 3137HH5X5 0.00 FHMS K757 A2 4.456
08/25/2031 4.09% 18,566.67 0.00 18,566.67 0.00
Coupon 03/01/2026 3137FLYV0 0.00 FHMS K-092 A2 3.298
04/25/2029 4.05% 12,477.43 0.00 12,477.43 0.00
Coupon 03/01/2026 3137FLN91 0.00 FHMS K-091 A2 3.505
03/25/2029 4.05% 5,593.39 0.00 5,593.39 0.00
Coupon 03/01/2026 3137FTZQ3 0.00 FHMS K-110 A2 1.477
04/25/2030 3.99% 4,184.83 0.00 4,184.83 0.00
Coupon 03/01/2026 3137FTZQ3 0.00 FHMS K-110 A2 1.477
04/25/2030 3.97% 369.25 0.00 369.25 0.00
Coupon 03/01/2026 3137FNAE0 0.00 FHMS K-095 A2 2.785
06/25/2029 3.92% 464.17 0.00 464.17 0.00
Coupon 03/01/2026 3137FLN91 0.00 FHMS K-091 A2 3.505
03/25/2029 3.90% 584.17 0.00 584.17 0.00
Coupon 03/01/2026 3137F9Z79 0.00 FHMS K-125 A2 1.846
01/25/2031 3.90% 230.75 0.00 230.75 0.00
Coupon 03/01/2026 3137FYUJ3 0.00 FHMS K-128 A2 2.02
03/25/2031 3.88% 11,404.58 0.00 11,404.58 0.00
Coupon 03/01/2026 3137H74P5 0.00 FHMS K-749 A2 2.12
03/26/2029 3.84% 2,499.83 0.00 2,499.83 0.00
Coupon 03/01/2026 3137FQKC6 0.00 FHMS K-102 A2 2.537
10/25/2029 3.82% 211.42 0.00 211.42 0.00
Coupon 03/01/2026 3137FLMV3 0.00 FHMS K-090 A2 3.422
02/25/2029 3.75% 285.17 0.00 285.17 0.00
Coupon 03/01/2026 3137FKSH0 0.00 FHMS K-086 A2 3.859
11/25/2028 3.72% 643.17 0.00 643.17 0.00
Coupon 03/01/2026 3137BSP72 0.00 FHMS K-058 A2 2.653
08/25/2026 2.88% 906.44 0.00 906.44 0.00
129 of 11211
CONFIDENTIAL | 26
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 03/01/2026 3137BQYS0 0.00 FHMS K-056 A2 2.525
05/25/2026 1.29% 1,364.80 0.00 1,364.80 0.00
Coupon 03/05/2026 02665WFY2 0.00
AMERICAN HONDA
FINANCE CORP 4.8
03/05/2030
4.82% 48,000.00 0.00 48,000.00 0.00
Coupon 03/05/2026 89236TNR2 0.00 TOYOTA MOTOR CREDIT
CORP 4.05 09/05/2028 4.00% 2,025.00 0.00 2,025.00 0.00
Coupon 03/11/2026 037833DN7 0.00 APPLE INC 2.05
09/11/2026 1.49% 7,687.50 0.00 7,687.50 0.00
Coupon 03/15/2026 58770JAD6 0.00 MBALT 2024-A A3 5.32
01/18/2028 5.73% 2,593.50 0.00 2,593.50 0.00
Coupon 03/15/2026 44934FAD7 0.00 HALST 2024-B A3 5.41
05/17/2027 5.41% 2,806.39 0.00 2,806.39 0.00
Coupon 03/15/2026 02582JKH2 0.00 AMXCA 2024-1 A 5.23
04/16/2029 5.30% 7,670.67 0.00 7,670.67 0.00
Coupon 03/15/2026 161571HT4 0.00 CHAIT 2023-1 A 5.16
09/15/2028 5.23% 10,083.50 0.00 10,083.50 0.00
Coupon 03/15/2026 47800BAC2 0.00 JDOT 2022-C A3 5.09
06/15/2027 5.15% 665.41 0.00 665.41 0.00
Coupon 03/15/2026 47800DAD6 0.00 JDOT 2025 A3 4.23
09/17/2029 5.09% 5,375.63 0.00 5,375.63 0.00
Coupon 03/15/2026 05522RDJ4 0.00 BACCT 2024-1 A 4.93
05/15/2029 4.93% 4,621.87 0.00 4,621.87 0.00
Coupon 03/15/2026 44935CAD3 0.00 HART 2025-A A3 4.32
10/15/2029 4.84% 6,930.00 0.00 6,930.00 0.00
Coupon 03/15/2026 44935WAD9 0.00 HALST 2025-A A3 4.83
01/18/2028 4.83% 6,158.25 0.00 6,158.25 0.00
Coupon 03/15/2026 89231HAD8 0.00 TAOT 2025-B A3 4.34
11/15/2029 4.82% 4,141.08 0.00 4,141.08 0.00
Coupon 03/15/2026 34535VAD6 0.00 FORDO 2024-D A3 4.61
08/15/2029 4.66% 7,107.08 0.00 7,107.08 0.00
Coupon 03/15/2026 44935DAD1 0.00 HALST 2025-B A3 4.53
04/17/2028 4.53% 4,454.50 0.00 4,454.50 0.00
130 of 11211
CONFIDENTIAL | 27
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 03/15/2026 161571HV9 0.00 CHAIT 241 A 4.6
01/16/2029 4.36% 11,500.00 0.00 11,500.00 0.00
Coupon 03/15/2026 02589BAE0 0.00 AMXCA 2024-3 A 4.65
07/15/2027 4.35% 7,750.00 0.00 7,750.00 0.00
Coupon 03/15/2026 95000U4A8 0.00 WELLS FARGO & CO
4.078 09/15/2029 4.32% 2,039.00 0.00 2,039.00 0.00
Coupon 03/15/2026 92970QAE5 0.00 WFCIT 2024-2 A 4.29
10/15/2029 4.32% 12,601.88 0.00 12,601.88 0.00
Coupon 03/15/2026 02582JKP4 0.00 AMXCA 2025-2 A 4.28
04/15/2030 4.28% 10,967.50 0.00 10,967.50 0.00
Coupon 03/15/2026 47800CAC0 0.00 JDOT 2023 A3 5.01
11/15/2027 4.17% 2,584.44 0.00 2,584.44 0.00
Coupon 03/15/2026 437921AD1 0.00 HAROT 252 A3 4.15
10/15/2029 4.15% 4,046.25 0.00 4,046.25 0.00
Coupon 03/15/2026 58933YBQ7 0.00 MERCK & CO INC 4.15
09/15/2030 4.05% 2,144.17 0.00 2,144.17 0.00
Coupon 03/15/2026 00287YDZ9 0.00 ABBVIE INC 4.875
03/15/2030 4.04% 2,437.50 0.00 2,437.50 0.00
Coupon 03/15/2026 437076DJ8 0.00 HOME DEPOT INC 3.95
09/15/2030 4.03% 1,481.25 0.00 1,481.25 0.00
Coupon 03/15/2026 437076DJ8 0.00 HOME DEPOT INC 3.95
09/15/2030 4.03% 59,250.00 0.00 59,250.00 0.00
Coupon 03/15/2026 12572QAL9 0.00 CME GROUP INC 4.4
03/15/2030 4.02% 2,200.00 0.00 2,200.00 0.00
Coupon 03/15/2026 637432NV3 0.00
NATIONAL RURAL
UTILITIES COOPERATIVE
FINANCE CORP 2.4
03/15/2030
4.02% 1,200.00 0.00 1,200.00 0.00
Coupon 03/15/2026 44935WAD9 0.00 HALST 2025-A A3 4.83
01/18/2028 4.02% 603.75 0.00 603.75 0.00
Coupon 03/15/2026 92970QAJ4 0.00 WFCIT 2025-1 A 4.34
05/15/2030 3.90% 542.50 0.00 542.50 0.00
Coupon 03/15/2026 89231HAD8 0.00 TAOT 2025-B A3 4.34
11/15/2029 3.84% 542.50 0.00 542.50 0.00
131 of 11211
CONFIDENTIAL | 28
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 03/15/2026 161571HZ0 0.00 CHAIT 2025-1 A 4.16
07/15/2030 3.82% 346.67 0.00 346.67 0.00
Coupon 03/15/2026 58768YAD7 0.00 MBALT 2025-A A3 4.61
04/16/2029 3.75% 576.25 0.00 576.25 0.00
Coupon 03/15/2026 05522RDK1 0.00 BACCT 2025-1 A 4.31
05/15/2030 3.74% 402.27 0.00 402.27 0.00
Coupon 03/15/2026 91282CKE0 0.00
UNITED STATES
TREASURY 4.25
03/15/2027
3.60% 5,312.50 0.00 5,312.50 0.00
Coupon 03/15/2026 91282CNY3 0.00
UNITED STATES
TREASURY 3.375
09/15/2028
3.56% 4,218.75 0.00 4,218.75 0.00
Coupon 03/15/2026 91282CMS7 0.00
UNITED STATES
TREASURY 3.875
03/15/2028
3.55% 4,843.75 0.00 4,843.75 0.00
Coupon 03/15/2026 91282CLL3 0.00
UNITED STATES
TREASURY 3.375
09/15/2027
3.53% 4,218.75 0.00 4,218.75 0.00
Coupon 03/15/2026 06368FAC3 0.00 BANK OF MONTREAL
1.25 09/15/2026 1.27% 4,687.50 0.00 4,687.50 0.00
Coupon 03/16/2026 362955AD8 0.00 GMCAR 2025-1 A3 4.62
12/17/2029 5.03% 4,774.00 0.00 4,774.00 0.00
Coupon 03/16/2026 438516CJ3 0.00
HONEYWELL
INTERNATIONAL INC
4.95 02/15/2028
4.44% 6,436.38 0.00 6,436.38 0.00
Coupon 03/16/2026 362549AD9 0.00 GMCAR 2025-2 A3 4.28
04/16/2030 3.96% 535.00 0.00 535.00 0.00
Coupon 03/17/2026 931142ER0 0.00 WALMART INC 1.05
09/17/2026 1.09% 971.25 0.00 971.25 0.00
Coupon 03/18/2026 437930AC4 0.00 HAROT 2024-2 A3 5.27
11/20/2028 5.27% 2,828.02 0.00 2,828.02 0.00
Coupon 03/20/2026 36269WAD1 0.00 GMALT 2024-2 A3 5.39
07/20/2027 4.88% 8,261.89 0.00 8,261.89 0.00
132 of 11211
CONFIDENTIAL | 29
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 03/20/2026 362962AD4 0.00 GMALT 2025-2 A3 4.58
05/22/2028 4.84% 6,583.75 0.00 6,583.75 0.00
Coupon 03/21/2026 43813YAC6 0.00 HAROT 2024-3 A3 4.57
03/21/2029 4.66% 6,531.29 0.00 6,531.29 0.00
Coupon 03/25/2026 096919AD7 0.00 BMWOT 2024-A A3
5.18 02/26/2029 5.18% 3,659.30 0.00 3,659.30 0.00
Coupon 03/26/2026 40139LBJ1 0.00
GUARDIAN LIFE
GLOBAL FUNDING
4.179 09/26/2029
4.18% 41,790.00 0.00 41,790.00 0.00
Coupon 03/30/2026 3130ALVG6 0.00
FEDERAL HOME
LOAN BANKS 1.375
03/30/2026
1.38% 20,625.00 0.00 20,625.00 0.00
Coupon 03/30/2026 3130ALV92 0.00
FEDERAL HOME
LOAN BANKS 1.05
03/30/2026
1.05% 9,187.50 0.00 9,187.50 0.00
Coupon 03/31/2026 91282CKG5 0.00
UNITED STATES
TREASURY 4.125
03/31/2029
4.57% 103,125.00 0.00 103,125.00 0.00
Coupon 03/31/2026 91282CEF4 0.00
UNITED STATES
TREASURY 2.5
03/31/2027
4.17% 62,500.00 0.00 62,500.00 0.00
Coupon 03/31/2026 91282CGS4 0.00
UNITED STATES
TREASURY 3.625
03/31/2030
3.86% 126,875.00 0.00 126,875.00 0.00
Coupon 03/31/2026 91282CLN9 0.00
UNITED STATES
TREASURY 3.5
09/30/2029
3.76% 52,500.00 0.00 52,500.00 0.00
Coupon 03/31/2026 91282CPA3 0.00
UNITED STATES
TREASURY 3.625
09/30/2030
3.71% 135,937.50 0.00 135,937.50 0.00
Coupon 03/31/2026 91282CCZ2 0.00
UNITED STATES
TREASURY 0.875
09/30/2026
1.08% 9,800.00 0.00 9,800.00 0.00
Total Coupon 0.00 1,027,835.18 0.00 1,027,835.18 0.00
133 of 11211
CONFIDENTIAL | 30
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Dividend 03/31/2026 90CAMP$00 0.00 CAMP 3.80% 218,018.64 0.00 218,018.64 0.00 Dividend 03/31/2026 X9X9USDDTP38 0.00 DREYFUS TRS SEC INST 3.52% 20,621.66 0.00 20,621.66 0.00 Total Dividend 0.00 238,640.30 0.00 238,640.30 0.00
Principal Paydown 03/01/2026 3137FKUP9 2,082.71 FHMS K-087 A2 3.771 12/25/2028 4.46% 2,082.71 -- 2,082.71 0.00
Principal Paydown 03/01/2026 3137BQYS0 80,214.06 FHMS K-056 A2 2.525 05/25/2026 1.29% 80,214.06 -- 80,214.06 0.00
Principal Paydown 03/15/2026 58770JAD6 33,986.83 MBALT 2024-A A3 5.32 01/18/2028 5.73% 33,986.83 -- 33,986.83 (0.00)
Principal Paydown 03/15/2026 44934FAD7 88,637.58 HALST 2024-B A3 5.41 05/17/2027 5.41% 88,637.58 -- 88,637.58 0.00
Principal Paydown 03/15/2026 47800BAC2 35,470.72 JDOT 2022-C A3 5.09 06/15/2027 5.15% 35,470.72 -- 35,470.72 (0.00)
Principal Paydown 03/15/2026 47800CAC0 66,829.79 JDOT 2023 A3 5.01 11/15/2027 4.17% 66,829.79 -- 66,829.79 (0.00)
Principal Paydown 03/18/2026 437930AC4 43,373.61 HAROT 2024-2 A3 5.27 11/20/2028 5.27% 43,373.61 -- 43,373.61 0.00
Principal Paydown 03/20/2026 36269WAD1 356,610.42 GMALT 2024-2 A3 5.39 07/20/2027 4.88% 356,610.42 -- 356,610.42 0.00
Principal Paydown 03/21/2026 43813YAC6 61,543.30 HAROT 2024-3 A3 4.57 03/21/2029 4.66% 61,543.30 -- 61,543.30 0.00
Principal Paydown 03/25/2026 096919AD7 56,832.71 BMWOT 2024-A A3
5.18 02/26/2029 5.18% 56,832.71 -- 56,832.71 0.00
Total Principal
Paydown 825,581.73 825,581.73 -- 825,581.73 0.01
TOTAL OTHER
TRANSACTIONS 7,684,353.32 12,003,459.90 0.00 12,003,459.90 19,989.09 134 of 11211
CONFIDENTIAL | 31
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
CASH & EQUIVALENTS
CCYUSD Receivable
731,260.63
1,058,796.83
0.00 0.00
731,260.63
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 X9X9USDDTP38 DREYFUS TRS SEC INST
12,303,805.74
6,347,542.82
8,737,993.72
(2,781,730.80)
12,303,805.74
0.00 12,258.21
0.00 12,258.21
0.00 0.00
0.00 12,258.21
12,258.21
Total Cash & Equivalents 13,035,066.37
7,406,339.65
8,737,993.72
(2,781,730.80)
13,035,066.37
0.00 12,258.21
0.00 12,258.21
0.00 0.00
0.00 12,258.21 12,258.21
FIXED INCOME
00287YBX6 ABBVIE INC 3.2 11/21/2029
09/24/2025
09/25/2025
2,200,000.00
2,137,354.55
0.00 0.00
2,138,781.45
19,555.56
0.00 25,422.22
5,866.67
1,426.90
0.00 1,426.90
7,293.57
7,293.57
00287YDZ9 ABBVIE INC 4.875
03/15/2030
09/19/2025
09/22/2025
100,000.00
103,002.95
0.00 0.00
102,938.62
2,247.92
2,437.50
216.67
406.25
0.00 (64.33)
(64.33)
341.92
341.92
023135BX3 AMAZON.COM INC 1.0
05/12/2026
05/10/2021
05/12/2021
1,160,000.00
1,159,802.41
0.00 0.00
1,159,887.48
3,512.22
0.00 4,478.89
966.67
85.08 0.00
85.08 1,051.74
1,051.74
025816ED7 AMERICAN EXPRESS CO 4.731
04/25/2029
04/22/2025
04/25/2025
3,000,000.00
3,001,721.17
0.00 0.00
3,001,653.28
49,675.50
0.00 61,503.00
11,827.50
0.00 (67.88)
(67.88)
11,759.62
11,759.62
025816EJ4 AMERICAN EXPRESS CO 4.351
07/20/2029
09/03/2025
09/04/2025
100,000.00
100,468.39
0.00 0.00
100,451.74
495.53
0.00 858.11
362.58
0.00 (16.65)
(16.65)
345.93
345.93
135 of 11211
CONFIDENTIAL | 32
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
02582JKH2 AMXCA 2024-1 A 5.23
04/16/2029
04/16/2024
04/23/2024
1,760,000.00
1,759,773.48
0.00 0.00
1,759,779.63
4,091.02
7,670.67
4,091.02
7,670.67
6.15 0.00
6.15 7,676.82
7,676.82
02582JKP4 AMXCA 2025-2 A 4.28
04/15/2030
05/06/2025
05/13/2025
3,075,000.00
3,074,953.38
0.00 0.00
3,074,954.34
5,849.33
10,967.50
5,849.33
10,967.50
0.96 0.00
0.96 10,968.46
10,968.46
02589BAE0 AMXCA 2024-3 A 4.65
07/15/2027
04/15/2025
04/16/2025
2,000,000.00
2,008,973.70
0.00 0.00
2,008,418.45
4,133.33
7,750.00
4,133.33
7,750.00
0.00 (555.26)
(555.26)
7,194.74
7,194.74
02665WFY2 AMERICAN HONDA FINANCE
CORP 4.8 03/05/2030
03/03/2025
03/05/2025
2,000,000.00
1,998,587.95
0.00 0.00
1,998,617.83
46,933.33
48,000.00
6,933.33
8,000.00
29.88 0.00
29.88 8,029.88
8,029.88
037833DN7 APPLE INC 2.05 09/11/2026
12/02/2021
12/06/2021
750,000.00
751,465.53
0.00 0.00
751,121.35
7,260.42
7,687.50
854.17
1,281.25
0.00 (344.18)
(344.18)
937.07
937.07
05522RDJ4 BACCT 2024-1 A 4.93
05/15/2029
06/06/2024
06/13/2024
1,125,000.00
1,124,959.03
0.00 0.00
1,124,960.11
2,465.00
4,621.87
2,465.00
4,621.87
1.08 0.00
1.08 4,622.95
4,622.95
05522RDK1 BACCT 2025-1 A 4.31
05/15/2030
09/11/2025
09/12/2025
112,000.00
113,398.22
0.00 0.00
113,344.44
214.54
402.27
214.54
402.27
0.00 (53.78)
(53.78)
348.49
348.49
06051GHV4 BANK OF AMERICA CORP
3.194 07/23/2030
09/03/2025
09/04/2025
100,000.00
96,412.83
0.00 0.00
96,482.11
337.14
0.00 603.31
266.17
69.28 0.00
69.28 335.45
335.45
06051GMT3 BANK OF AMERICA CORP
4.623 05/09/2029
05/14/2025
05/15/2025
3,000,000.00
2,989,796.95
0.00 0.00
2,990,075.62
43,148.00
0.00 54,705.50
11,557.50
278.67
0.00 278.67
11,836.17
11,836.17
136 of 11211
CONFIDENTIAL | 33
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
06368FAC3 BANK OF MONTREAL 1.25
09/15/2026
09/13/2021
09/15/2021
750,000.00
749,901.60
0.00 0.00
749,917.00
4,322.92
4,687.50
416.67
781.25
15.41 0.00
15.41 796.66
796.66
06405LAH4 BANK OF NEW YORK MELLON
4.729 04/20/2029
04/17/2025
04/22/2025
2,750,000.00
2,760,935.07
0.00 0.00
2,760,501.03
47,322.84
0.00 58,160.13
10,837.29
0.00 (434.04)
(434.04)
10,403.25
10,403.25
06406RBK2 BANK OF NEW YORK MELLON
CORP 4.596 07/26/2030
09/03/2025
09/04/2025
100,000.00
101,512.42
0.00 0.00
101,474.70
446.83
0.00 829.83
383.00
0.00 (37.72)
(37.72)
345.28
345.28
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029
06/04/2024
06/11/2024
790,881.16
847,632.09
0.00 (56,832.71)
790,807.03
731.86
3,659.30
682.79
3,610.23
7.65 0.00
7.65 3,617.88
3,617.88
12572QAL9 CME GROUP INC 4.4
03/15/2030
09/19/2025
09/22/2025
100,000.00
101,360.56
0.00 0.00
101,331.41
2,028.89
2,200.00
195.56
366.67
0.00 (29.15)
(29.15)
337.52
337.52
13063DYT9 CALIFORNIA ST 1.75
11/01/2030
08/20/2025
08/21/2025
2,000,000.00
1,808,385.10
0.00 0.00
1,811,866.97
11,666.67
0.00 14,583.33
2,916.67
3,481.87
0.00 3,481.87
6,398.53
6,398.53
13063EGT7 CALIFORNIA STATE 4.5
08/01/2029
10/30/2024
11/05/2024
2,880,000.00
2,890,957.70
0.00 0.00
2,890,685.73
10,800.00
0.00 21,600.00
10,800.00
0.00 (271.97)
(271.97)
10,528.03
10,528.03
13063ESC1 CALIFORNIA ST 4.35
11/01/2032
10/31/2025
11/06/2025
4,600,000.00
4,623,369.23
0.00 0.00
4,623,071.96
63,920.83
0.00 80,595.83
16,675.00
0.00 (297.27)
(297.27)
16,377.73
16,377.73
141781CF9 CARGILL INC 4.125
10/23/2030
10/20/2025
10/23/2025
2,200,000.00
2,198,460.43
0.00 0.00
2,198,488.56
32,266.67
0.00 39,829.17
7,562.50
28.12 0.00
28.12 7,590.62
7,590.62
137 of 11211
CONFIDENTIAL | 34
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
14913UAJ9
CATERPILLAR FINANCIAL
SERVICES CORP 4.85
02/27/2029
03/18/2024
03/20/2024
1,500,000.00
1,500,445.48
0.00 0.00
1,500,432.86
808.33
0.00 6,870.83
6,062.50
0.00 (12.62)
(12.62)
6,049.88
6,049.88
14913UBB5
CATERPILLAR FINANCIAL
SERVICES CORP 4.1
08/15/2028
09/03/2025
09/04/2025
100,000.00
100,324.65
0.00 0.00
100,313.44
182.22
0.00 523.89
341.67
0.00 (11.21)
(11.21)
330.46
330.46
161571HT4 CHAIT 2023-1 A 5.16
09/15/2028
09/07/2023
09/15/2023
2,345,000.00
2,344,669.47
0.00 0.00
2,344,680.50
5,377.87
10,083.50
5,377.87
10,083.50
11.03 0.00
11.03 10,094.53
10,094.53
161571HV9 CHAIT 241 A 4.6 01/16/2029
04/15/2025
04/16/2025
3,000,000.00
3,006,983.57
0.00 0.00
3,006,307.03
6,133.33
11,500.00
6,133.33
11,500.00
0.00 (676.53)
(676.53)
10,823.47
10,823.47
161571HZ0 CHAIT 2025-1 A 4.16
07/15/2030
09/08/2025
09/09/2025
100,000.00
100,827.14
0.00 0.00
100,797.57
184.89
346.67
184.89
346.67
0.00 (29.57)
(29.57)
317.10
317.10
171239AL0 CHUBB INA HOLDINGS LLC
4.65 08/15/2029
08/12/2024
08/15/2024
1,441,000.00
1,446,587.97
0.00 0.00
1,446,447.36
2,978.07
0.00 8,561.94
5,583.88
0.00 (140.61)
(140.61)
5,443.27
5,443.27
17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029
02/21/2024
02/26/2024
1,190,000.00
1,189,750.83
0.00 0.00
1,189,757.90
801.60
0.00 5,611.18
4,809.58
7.07 0.00
7.07 4,816.65
4,816.65
17305EHA6 CCCIT 2025-A1 A1 4.3
06/21/2030
10/09/2025
10/10/2025
1,600,000.00
1,613,693.40
0.00 0.00
1,613,189.85
13,377.78
0.00 19,111.11
5,733.33
0.00 (503.55)
(503.55)
5,229.78
5,229.78
24422EWR6 JOHN DEERE CAPITAL CORP
4.75 01/20/2028
01/17/2023
01/20/2023
1,000,000.00
1,006,238.72
0.00 0.00
1,005,958.43
5,409.72
0.00 9,368.06
3,958.33
0.00 (280.29)
(280.29)
3,678.04
3,678.04
138 of 11211
CONFIDENTIAL | 35
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
24422EXH7 JOHN DEERE CAPITAL CORP
4.5 01/16/2029
04/08/2024
04/10/2024
1,000,000.00
989,467.92
0.00 0.00
989,778.28
5,625.00
0.00 9,375.00
3,750.00
310.36
0.00 310.36
4,060.36
4,060.36
24422EYD5 JOHN DEERE CAPITAL CORP
4.25 06/05/2028
09/03/2025
09/04/2025
100,000.00
100,676.41
0.00 0.00
100,651.06
1,015.28
0.00 1,369.44
354.17
0.00 (25.36)
(25.36)
328.81
328.81
26442CAX2 DUKE ENERGY CAROLINAS
LLC 3.95 11/15/2028
12/06/2023
12/08/2023
2,000,000.00
1,960,004.88
0.00 0.00
1,961,257.25
23,261.11
0.00 29,844.44
6,583.33
1,252.37
0.00 1,252.37
7,835.71
7,835.71
26444HAH4 DUKE ENERGY FLORIDA LLC
2.5 12/01/2029
12/02/2024
12/03/2024
2,000,000.00
1,858,976.41
0.00 0.00
1,862,165.13
12,500.00
0.00 16,666.67
4,166.67
3,188.72
0.00 3,188.72
7,355.38
7,355.38
26444HAJ0 DUKE ENERGY FLORIDA LLC
1.75 06/15/2030
09/03/2025
09/04/2025
100,000.00
90,457.01
0.00 0.00
90,645.80
369.44
0.00 515.28
145.83
188.79
0.00 188.79
334.62
334.62
30303M8S4 META PLATFORMS INC 4.3
08/15/2029
08/12/2024
08/15/2024
1,520,000.00
1,518,367.81
0.00 0.00
1,518,407.87
2,904.89
0.00 8,351.56
5,446.67
40.06 0.00
40.06 5,486.73
5,486.73
3130ALV92 FEDERAL HOME LOAN BANKS
1.05 03/30/2026
04/08/2021
04/08/2021
0.00 1,750,000.00
0.00 (1,750,000.00)
0.00 7,707.29
9,187.50
0.00 1,480.21
0.00 0.00
0.00 1,480.21
1,480.21
3130ALVG6 FEDERAL HOME LOAN BANKS
1.375 03/30/2026
03/30/2021
03/30/2021
0.00 3,000,000.00
0.00 (3,000,000.00)
0.00 17,302.08
20,625.00
0.00 3,322.92
0.00 0.00
0.00 3,322.92
3,322.92
3130ALWV2 FEDERAL HOME LOAN BANKS
1.35 04/21/2026
04/21/2021
04/21/2021
3,000,000.00
3,000,000.00
0.00 0.00
3,000,000.00
14,625.00
0.00 18,000.00
3,375.00
0.00 0.00
0.00 3,375.00
3,375.00
139 of 11211
CONFIDENTIAL | 36
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3130ALZQ0 FEDERAL HOME LOAN BANKS
1.25 04/28/2026
04/28/2021
04/28/2021
5,000,000.00
5,000,000.00
0.00 0.00
5,000,000.00
21,354.17
0.00 26,562.50
5,208.33
0.00 0.00
0.00 5,208.33
5,208.33
3130APWY7 FEDERAL HOME LOAN BANKS
1.35 12/07/2026
12/07/2021
12/07/2021
5,000,000.00
5,000,000.00
0.00 0.00
5,000,000.00
15,750.00
0.00 21,375.00
5,625.00
0.00 0.00
0.00 5,625.00
5,625.00
3133ENEM8
FEDERAL FARM CREDIT
BANKS FUNDING CORP 1.43
11/23/2026
11/16/2021
11/24/2021
2,750,000.00
2,750,000.00
0.00 0.00
2,750,000.00
10,705.14
0.00 13,982.22
3,277.08
0.00 0.00
0.00 3,277.08
3,277.08
3133ENHV5
FEDERAL FARM CREDIT
BANKS FUNDING CORP 1.39
06/22/2026
12/21/2021
12/23/2021
5,000,000.00
5,000,000.00
0.00 0.00
5,000,000.00
13,320.83
0.00 19,112.50
5,791.67
0.00 0.00
0.00 5,791.67
5,791.67
3133EPME2
FEDERAL FARM CREDIT
BANKS FUNDING CORP 3.875
06/08/2028
06/06/2023
06/08/2023
1,900,000.00
1,896,245.24
0.00 0.00
1,896,385.48
16,974.65
0.00 23,110.07
6,135.42
140.24
0.00 140.24
6,275.65
6,275.65
3137BQYS0 FHMS K-056 A2 2.525
05/25/2026 568,403.98
649,760.66
0.00 (80,214.06)
568,896.43
1,364.80
1,364.80
1,196.02
1,196.02
0.00 (650.17)
(650.17)
545.84
545.84
3137BSP72 FHMS K-058 A2 2.653
08/25/2026
04/12/2022
04/18/2022
410,000.00
409,566.57
0.00 0.00
409,654.39
906.44
906.44
906.44
906.44
87.82 0.00
87.82 994.26
994.26
3137F9Z79 FHMS K-125 A2 1.846
01/25/2031
02/19/2026
02/20/2026
150,000.00
136,480.97
0.00 0.00
136,718.14
230.75
230.75
230.75
230.75
237.18
0.00 237.18
467.93
467.93
3137FG6X8 FHMS K-077 A2 3.85
05/25/2028
09/07/2023
09/12/2023
3,250,000.00
3,183,958.58
0.00 0.00
3,186,543.54
10,427.08
10,427.08
10,427.08
10,427.08
2,584.95
0.00 2,584.95
13,012.03
13,012.03
140 of 11211
CONFIDENTIAL | 37
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3137FHPJ6 FHMS K-080 A2 3.926
07/25/2028
03/14/2024
03/19/2024
1,895,000.00
1,863,691.25
0.00 0.00
1,864,829.09
6,199.81
6,199.81
6,199.81
6,199.81
1,137.83
0.00 1,137.83
7,337.64
7,337.64
3137FJEH8 FHMS K-081 A2 3.9
08/25/2028 6,400,000.00
6,246,203.16
0.00 0.00
6,251,596.49
20,800.00
20,800.00
20,800.00
20,800.00
5,393.33
0.00 5,393.33
26,193.33
26,193.33
3137FK4M5 FHMS K-085 A2 4.06
10/25/2028
03/14/2024
03/19/2024
1,890,000.00
1,862,042.45
0.00 0.00
1,862,959.57
6,394.50
6,394.50
6,394.50
6,394.50
917.13
0.00 917.13
7,311.63
7,311.63
3137FKSH0 FHMS K-086 A2 3.859
11/25/2028 2,000,000.00
1,972,844.63
0.00 0.00
1,973,707.15
6,431.67
6,431.67
6,431.67
6,431.67
875.24
(12.72)
862.52
7,294.19
7,294.19
3137FKUP9 FHMS K-087 A2 3.771
12/25/2028
07/30/2024
07/31/2024
1,456,984.03
1,433,257.96
0.00 (2,082.71)
1,432,006.25
4,585.12
4,585.12
4,578.57
4,578.58
831.01
0.00 831.01
5,409.58
5,409.58
3137FLMV3 FHMS K-090 A2 3.422
02/25/2029
09/08/2025
09/11/2025
100,000.00
98,989.87
0.00 0.00
99,019.19
285.17
285.17
285.17
285.17
29.32 0.00
29.32 314.49
314.49
3137FLN91 FHMS K-091 A2 3.505
03/25/2029 2,115,000.00
2,083,473.32
0.00 0.00
2,084,365.04
6,177.56
6,177.56
6,177.56
6,177.56
891.72
0.00 891.72
7,069.28
7,069.28
3137FLYV0 FHMS K-092 A2 3.298
04/25/2029 4,540,000.00
4,442,233.40
0.00 0.00
4,444,922.63
12,477.43
12,477.43
12,477.43
12,477.43
2,689.23
0.00 2,689.23
15,166.66
15,166.66
3137FNAE0 FHMS K-095 A2 2.785
06/25/2029
09/03/2025
09/08/2025
200,000.00
193,124.25
0.00 0.00
193,303.66
464.17
464.17
464.17
464.17
179.42
0.00 179.42
643.59
643.59
141 of 11211
CONFIDENTIAL | 38
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3137FQKC6 FHMS K-102 A2 2.537
10/25/2029
09/08/2025
09/11/2025
100,000.00
95,715.52
0.00 0.00
95,816.91
211.42
211.42
211.42
211.42
101.39
0.00 101.39
312.81
312.81
3137FREH0 FHMS K-104 A2 2.253
01/25/2030
05/02/2025
05/07/2025
1,950,000.00
1,817,074.16
0.00 0.00
1,820,013.32
3,661.13
3,661.13
3,661.13
3,661.13
2,939.16
0.00 2,939.16
6,600.29
6,600.29
3137FTZQ3 FHMS K-110 A2 1.477
04/25/2030 3,700,000.00
3,360,885.03
0.00 0.00
3,367,930.98
4,554.08
4,554.08
4,554.08
4,554.08
7,045.95
0.00 7,045.95
11,600.03
11,600.03
3137FYUJ3 FHMS K-128 A2 2.02
03/25/2031
10/21/2025
10/22/2025
6,775,000.00
6,219,363.57
0.00 0.00
6,228,796.61
11,404.58
11,404.58
11,404.58
11,404.58
9,433.04
0.00 9,433.04
20,837.62
20,837.62
3137H5YC5 FHMS K-748 A2 2.26
01/25/2029
04/11/2024
04/16/2024
2,500,000.00
2,332,002.03
0.00 0.00
2,337,024.15
4,708.33
4,708.33
4,708.33
4,708.33
5,022.12
0.00 5,022.12
9,730.45
9,730.45
3137H74P5 FHMS K-749 A2 2.12
03/26/2029
09/19/2024
09/24/2024
1,415,000.00
1,349,457.97
0.00 0.00
1,351,270.46
2,499.83
2,499.83
2,499.83
2,499.83
1,812.49
0.00 1,812.49
4,312.32
4,312.32
3137H9D71 FHMS K-750 A2 3.0
09/25/2029
11/14/2024
11/19/2024
5,000,000.00
4,759,730.97
0.00 0.00
4,765,549.98
12,500.00
12,500.00
12,500.00
12,500.00
5,819.02
0.00 5,819.02
18,319.02
18,319.02
3137HA4B9 FHMS K-751 A2 4.412
03/25/2030
04/17/2025
04/23/2025
1,887,000.00
1,892,648.80
0.00 0.00
1,892,528.95
6,937.87
6,937.87
6,937.87
6,937.87
0.00 (119.86)
(119.86)
6,818.01
6,818.01
3137HH5X5 FHMS K757 A2 4.456
08/25/2031
01/15/2026
01/21/2026
5,000,000.00
5,080,062.84
0.00 0.00
5,078,808.70
18,566.67
18,566.67
18,566.67
18,566.67
0.00 (1,254.14)
(1,254.14)
17,312.53
17,312.53
142 of 11211
CONFIDENTIAL | 39
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
3137HQDH1 FHMS K-764 A2 4.12
12/25/2032
02/10/2026
02/19/2026
4,750,000.00
4,725,120.60
0.00 0.00
4,725,433.23
16,308.33
16,308.33
16,308.33
16,308.33
312.63
0.00 312.63
16,620.96
16,620.96
341081GP6 FLORIDA POWER & LIGHT CO
4.625 05/15/2030
09/11/2025
09/12/2025
100,000.00
102,342.07
0.00 0.00
102,292.84
1,361.81
0.00 1,747.22
385.42
0.00 (49.22)
(49.22)
336.19
336.19
34535VAD6 FORDO 2024-D A3 4.61
08/15/2029
11/19/2024
11/22/2024
1,850,000.00
1,849,956.58
0.00 0.00
1,849,957.64
3,790.44
7,107.08
3,790.44
7,107.08
1.07 0.00
1.07 7,108.15
7,108.15
362549AD9 GMCAR 2025-2 A3 4.28
04/16/2030
09/03/2025
09/04/2025
150,000.00
150,989.22
0.00 0.00
150,960.91
267.50
535.00
267.50
535.00
0.00 (28.32)
(28.32)
506.68
506.68
36269WAD1 GMALT 2024-2 A3 5.39
07/20/2027 1,482,770.06
1,843,543.06
0.00 (356,610.42)
1,485,612.22
3,029.36
8,261.89
2,442.04
7,674.57
3.24 (1,323.67)
(1,320.43)
6,354.14
6,354.14
362955AD8 GMCAR 2025-1 A3 4.62
12/17/2029
01/09/2025
01/15/2025
1,240,000.00
1,239,928.89
0.00 0.00
1,239,930.48
2,387.00
4,774.00
2,387.00
4,774.00
1.59 0.00
1.59 4,775.59
4,775.59
362962AD4 GMALT 2025-2 A3 4.58
05/22/2028
05/20/2025
05/29/2025
1,725,000.00
1,724,978.63
0.00 0.00
1,724,979.44
2,414.04
6,583.75
2,414.04
6,583.75
0.82 0.00
0.82 6,584.57
6,584.57
38141GD27 GOLDMAN SACHS GROUP
INC 4.153 10/21/2029 10/21/2025
3,155,000.00
3,155,348.67
0.00 0.00
3,155,337.47
47,315.36
0.00 58,234.29
10,918.93
0.00 (11.20)
(11.20)
10,907.73
10,907.73
38141GWV2 GOLDMAN SACHS GROUP
INC 3.814 04/23/2029
09/19/2025
09/22/2025
100,000.00
99,460.17
0.00 0.00
99,474.74
1,356.09
0.00 1,673.92
317.83
14.56 0.00
14.56 332.40
332.40
143 of 11211
CONFIDENTIAL | 40
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
40139LBG7 GUARDIAN LIFE GLOBAL
FUNDING 5.55 10/28/2027
10/25/2022
10/28/2022
790,000.00
789,921.35
0.00 0.00
789,925.37
14,980.38
0.00 18,634.13
3,653.75
4.02 0.00
4.02 3,657.77
3,657.77
40139LBH5 GUARDIAN LIFE GLOBAL
FUNDING 5.737 10/02/2028
11/29/2023
12/01/2023
725,000.00
737,832.03
0.00 0.00
737,411.53
17,214.98
0.00 20,681.09
3,466.10
0.00 (420.50)
(420.50)
3,045.60
3,045.60
40139LBJ1 GUARDIAN LIFE GLOBAL
FUNDING 4.179 09/26/2029
09/23/2024
09/26/2024
2,000,000.00
2,000,000.00
0.00 0.00
2,000,000.00
35,985.83
41,790.00
1,160.83
6,965.00
0.00 0.00
0.00 6,965.00
6,965.00
40139LBK8 GUARDIAN LIFE GLOBAL
FUNDING 4.798 04/28/2030
04/23/2025
04/28/2025
2,000,000.00
2,000,000.00
0.00 0.00
2,000,000.00
32,786.33
0.00 40,783.00
7,996.67
0.00 0.00
0.00 7,996.67
7,996.67
40139LBN2 GUARDIAN LIFE GLOBAL
FUNDING 4.327 10/06/2030
09/30/2025
10/06/2025
100,000.00
100,000.00
0.00 0.00
100,000.00
1,742.82
0.00 2,103.40
360.58
0.00 0.00
0.00 360.58
360.58
437076BY7 HOME DEPOT INC 2.95
06/15/2029
09/12/2024
09/13/2024
1,700,000.00
1,647,949.80
0.00 0.00
1,649,292.19
10,587.22
0.00 14,766.39
4,179.17
1,342.39
0.00 1,342.39
5,521.56
5,521.56
437076DC3 HOME DEPOT INC 4.75
06/25/2029
06/18/2024
06/25/2024
1,700,000.00
1,696,671.31
0.00 0.00
1,696,756.45
14,804.17
0.00 21,533.33
6,729.17
85.14 0.00
85.14 6,814.31
6,814.31
437076DJ8 HOME DEPOT INC 3.95
09/15/2030
09/08/2025
09/15/2025
3,075,000.00
3,064,970.36
0.00 0.00
3,065,157.78
56,007.71
60,731.25
5,398.33
10,121.88
187.41
0.00 187.41
10,309.29
10,309.29
437921AD1 HAROT 252 A3 4.15
10/15/2029
04/29/2025
05/08/2025
1,170,000.00
1,169,893.25
0.00 0.00
1,169,895.75
2,158.00
4,046.25
2,158.00
4,046.25
2.50 0.00
2.50 4,048.75
4,048.75
144 of 11211
CONFIDENTIAL | 41
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
437930AC4 HAROT 2024-2 A3 5.27
11/20/2028
05/14/2024
05/21/2024
600,577.64
643,903.89
0.00 (43,373.61)
600,534.85
1,225.48
2,828.02
1,142.93
2,745.48
4.57 0.00
4.57 2,750.04
2,750.04
43813YAC6 HAROT 2024-3 A3 4.57
03/21/2029
08/09/2024
08/21/2024
1,653,456.70
1,714,820.27
0.00 (61,543.30)
1,653,288.24
2,177.10
6,531.29
2,098.97
6,453.16
11.26 0.00
11.26 6,464.43
6,464.43
438516CJ3 HONEYWELL INTERNATIONAL
INC 4.95 02/15/2028
02/13/2023
02/15/2023
0.00 1,522,925.05
0.00 (1,522,642.02)
0.00 3,322.00
6,436.38
0.00 3,114.38
0.00 (283.03)
(283.03)
2,831.35
2,831.35
44934FAD7 HALST 2024-B A3 5.41
05/17/2027
05/14/2024
05/22/2024
533,853.04
622,483.59
0.00 (88,637.58)
533,847.44
1,496.74
2,806.39
1,283.62
2,593.27
1.42 0.00
1.42 2,594.69
2,594.69
44935CAD3 HART 2025-A A3 4.32
10/15/2029
03/04/2025
03/12/2025
1,925,000.00
1,924,775.96
0.00 0.00
1,924,781.21
3,696.00
6,930.00
3,696.00
6,930.00
5.25 0.00
5.25 6,935.25
6,935.25
44935DAD1 HALST 2025-B A3 4.53
04/17/2028
04/24/2025
04/30/2025
1,180,000.00
1,179,923.46
0.00 0.00
1,179,926.51
2,375.73
4,454.50
2,375.73
4,454.50
3.05 0.00
3.05 4,457.55
4,457.55
44935WAD9 HALST 2025-A A3 4.83
01/18/2028 1,680,000.00
1,680,992.60
0.00 0.00
1,680,908.75
3,606.40
6,762.00
3,606.40
6,762.00
3.26 (87.10)
(83.84)
6,678.16
6,678.16
4581X0DV7
INTER-AMERICAN
DEVELOPMENT BANK 0.875
04/20/2026
04/13/2021
04/20/2021
1,520,000.00
1,519,809.38
0.00 0.00
1,519,927.56
4,839.72
0.00 5,948.06
1,108.33
118.19
0.00 118.19
1,226.52
1,226.52
459058LN1
INTERNATIONAL BANK FOR
RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
12/12/2024
12/13/2024
3,250,000.00
3,210,347.43
0.00 0.00
3,211,275.15
47,222.50
0.00 57,720.00
10,497.50
927.72
0.00 927.72
11,425.22
11,425.22
145 of 11211
CONFIDENTIAL | 42
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
46647PAV8 JPMORGAN CHASE & CO
4.203 07/23/2029
09/04/2025
09/05/2025
3,000,000.00
3,008,508.79
0.00 0.00
3,008,207.34
13,309.50
0.00 23,817.00
10,507.50
0.00 (301.45)
(301.45)
10,206.05
10,206.05
46647PDF0 JPMORGAN CHASE & CO
4.565 06/14/2030
09/03/2025
09/04/2025
100,000.00
100,834.34
0.00 0.00
100,812.81
976.40
0.00 1,356.82
380.42
0.00 (21.54)
(21.54)
358.88
358.88
46647PEA0 JPMORGAN CHASE & CO 5.04
01/23/2028
11/20/2024
11/21/2024
2,000,000.00
2,003,772.21
0.00 0.00
2,003,415.69
10,640.00
0.00 19,040.00
8,400.00
0.00 (356.52)
(356.52)
8,043.48
8,043.48
47800BAC2 JDOT 2022-C A3 5.09
06/15/2027
10/12/2022
10/19/2022
121,403.63
156,871.08
0.00 (35,470.72)
121,401.26
354.88
665.41
274.64
585.17
0.91 0.00
0.91 586.07
586.07
47800CAC0 JDOT 2023 A3 5.01
11/15/2027 03/02/2023
552,198.58
619,038.05
0.00 (66,829.79)
552,204.86
1,378.37
2,584.44
1,229.56
2,435.63
3.22 (6.62)
(3.40)
2,432.23
2,432.23
47800DAD6 JDOT 2025 A3 4.23
09/17/2029
03/04/2025
03/11/2025
1,525,000.00
1,524,924.71
0.00 0.00
1,524,926.51
2,867.00
5,375.63
2,867.00
5,375.63
1.80 0.00
1.80 5,377.43
5,377.43
532457CQ9 ELI LILLY AND CO 4.2
08/14/2029
08/12/2024
08/14/2024
1,925,000.00
1,922,086.38
0.00 0.00
1,922,157.95
3,817.92
0.00 10,555.42
6,737.50
71.57 0.00
71.57 6,809.07
6,809.07
532457DB1 ELI LILLY AND CO 4.0
10/15/2028
09/19/2025
09/22/2025
100,000.00
100,319.05
0.00 0.00
100,308.40
2,122.22
0.00 2,455.56
333.33
0.00 (10.65)
(10.65)
322.69
322.69
57582TEA6
MASSACHUSETTS
COMMONWEALTH 4.35
06/01/2030
06/10/2025
06/18/2025
2,500,000.00
2,502,790.08
0.00 0.00
2,502,734.38
27,187.50
0.00 36,250.00
9,062.50
0.00 (55.69)
(55.69)
9,006.81
9,006.81
146 of 11211
CONFIDENTIAL | 43
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
57629TBX4 MASSMUTUAL GLOBAL
FUNDING II 4.55 05/07/2030
05/01/2025
05/07/2025
2,000,000.00
1,997,774.11
0.00 0.00
1,997,819.27
28,816.67
0.00 36,400.00
7,583.33
45.16 0.00
45.16 7,628.49
7,628.49
57629W4T4 MASSMUTUAL GLOBAL
FUNDING II 5.15 05/30/2029
05/22/2024
05/30/2024
1,500,000.00
1,499,191.36
0.00 0.00
1,499,212.50
19,527.08
0.00 25,964.58
6,437.50
21.14 0.00
21.14 6,458.64
6,458.64
58768YAD7 MBALT 2025-A A3 4.61
04/16/2029
09/11/2025
09/12/2025
150,000.00
152,017.16
0.00 0.00
151,929.82
307.33
576.25
307.33
576.25
0.00 (87.34)
(87.34)
488.92
488.92
58770JAD6 MBALT 2024-A A3 5.32
01/18/2028
05/17/2024
05/23/2024
551,013.17
584,964.72
0.00 (33,986.83)
550,981.44
1,383.20
2,593.50
1,302.84
2,513.14
3.55 0.00
3.55 2,516.69
2,516.69
58933YBQ7 MERCK & CO INC 4.15
09/15/2030
09/19/2025
09/22/2025
100,000.00
100,405.18
0.00 0.00
100,397.46
1,982.78
2,144.17
184.44
345.84
0.00 (7.72)
(7.72)
338.12
338.12
59217GFR5 METROPOLITAN LIFE GLOBAL
FUNDING I 4.85 01/08/2029
01/03/2024
01/08/2024
1,500,000.00
1,500,034.29
0.00 0.00
1,500,033.27
10,710.42
0.00 16,772.92
6,062.50
0.00 (1.02)
(1.02)
6,061.48
6,061.48
59217GFT1 METROPOLITAN LIFE GLOBAL
FUNDING I 4.9 01/09/2030
01/02/2025
01/09/2025
2,490,000.00
2,486,039.18
0.00 0.00
2,486,126.26
17,623.67
0.00 27,791.17
10,167.50
87.08 0.00
87.08 10,254.58
10,254.58
6174468G7 MORGAN STANLEY 4.431
01/23/2030
09/03/2025
09/04/2025
100,000.00
100,488.84
0.00 0.00
100,474.53
467.72
0.00 836.97
369.25
0.00 (14.31)
(14.31)
354.94
354.94
61747YFK6 MORGAN STANLEY 5.173
01/16/2030
02/12/2025
02/13/2025
3,000,000.00
2,998,986.91
0.00 0.00
2,999,016.76
19,398.75
0.00 32,331.25
12,932.50
29.85 0.00
29.85 12,962.35
12,962.35
147 of 11211
CONFIDENTIAL | 44
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
61748UAK8 MORGAN STANLEY 4.133
10/18/2029
10/17/2025
10/22/2025
2,950,000.00
2,950,326.39
0.00 0.00
2,950,315.88
43,689.25
0.00 53,849.55
10,160.29
0.00 (10.52)
(10.52)
10,149.77
10,149.77
637432NV3
NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP
2.4 03/15/2030
09/19/2025
09/22/2025
100,000.00
94,075.64
0.00 0.00
94,200.15
1,106.67
1,200.00
106.67
200.00
124.51
0.00 124.51
324.51
324.51
63743HFX5
NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP
4.95 02/07/2030
02/05/2025
02/07/2025
1,500,000.00
1,503,380.77
0.00 0.00
1,503,306.33
4,950.00
0.00 11,137.50
6,187.50
0.00 (74.43)
(74.43)
6,113.07
6,113.07
63743HGC0
NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP
4.3 12/10/2030
12/10/2025
12/11/2025
2,000,000.00
2,003,324.90
0.00 0.00
2,003,264.80
19,350.00
0.00 26,516.67
7,166.67
0.00 (60.10)
(60.10)
7,106.57
7,106.57
64952WFG3 NEW YORK LIFE GLOBAL
FUNDING 5.0 06/06/2029
06/03/2024
06/06/2024
1,135,000.00
1,133,576.24
0.00 0.00
1,133,613.24
13,399.31
0.00 18,128.47
4,729.17
37.00 0.00
37.00 4,766.16
4,766.16
64952WFR9 NEW YORK LIFE GLOBAL
FUNDING 4.25 01/09/2031
01/05/2026
01/09/2026
2,190,000.00
2,186,593.87
0.00 0.00
2,186,653.35
13,444.17
0.00 21,200.42
7,756.25
59.49 0.00
59.49 7,815.74
7,815.74
64953BBW7 NEW YORK LIFE GLOBAL
FUNDING 4.4 04/25/2028
04/22/2025
04/25/2025
2,615,000.00
2,613,687.25
0.00 0.00
2,613,739.03
40,271.00
0.00 49,859.33
9,588.33
51.78 0.00
51.78 9,640.11
9,640.11
665859AV6 NORTHERN TRUST CORP 1.95
05/01/2030
09/19/2025
09/22/2025
100,000.00
92,233.46
0.00 0.00
92,391.65
650.00
0.00 812.50
162.50
158.19
0.00 158.19
320.69
320.69
665859AY0 NORTHERN TRUST CORP 4.15
11/19/2030
11/13/2025
11/19/2025
3,000,000.00
2,999,886.70
0.00 0.00
2,999,888.74
35,275.00
0.00 45,650.00
10,375.00
2.04 0.00
2.04 10,377.04
10,377.04
148 of 11211
CONFIDENTIAL | 45
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
66815L2Q1
NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.71
01/10/2029
01/10/2024
2,000,000.00
2,002,201.44
0.00 0.00
2,002,136.20
13,345.00
0.00 21,195.00
7,850.00
2.63 (67.87)
(65.24)
7,784.76
7,784.76
66815L2Z1
NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.3
01/13/2031
01/06/2026
01/13/2026
2,715,000.00
2,714,761.94
0.00 0.00
2,714,766.09
15,566.00
0.00 25,294.75
9,728.75
4.15 0.00
4.15 9,732.90
9,732.90
6944PL3M9
PACIFIC LIFE GLOBAL
FUNDING II 4.375
02/03/2031 2,075,000.00
2,078,112.56
0.00 0.00
2,078,058.96
7,060.76
0.00 14,625.87
7,565.10
0.00 (53.61)
(53.61)
7,511.50
7,511.50
713448FX1 PEPSICO INC 4.5 07/17/2029
07/15/2024
07/17/2024
2,035,000.00
2,032,868.38
0.00 0.00
2,032,921.93
11,192.50
0.00 18,823.75
7,631.25
53.55 0.00
53.55 7,684.80
7,684.80
713448GA0 PEPSICO INC 4.45 02/07/2028
09/19/2025
09/22/2025
100,000.00
101,272.31
0.00 0.00
101,214.05
296.67
0.00 667.50
370.83
0.00 (58.26)
(58.26)
312.57
312.57
74340XCG4 PROLOGIS LP 4.875
06/15/2028 2,630,000.00
2,624,002.15
0.00 0.00
2,624,224.30
27,067.08
0.00 37,751.46
10,684.38
222.14
0.00 222.14
10,906.52
10,906.52
74464AAC5 PUBLIC STORAGE OPERATING
CO 4.375 07/01/2030
09/03/2025
09/04/2025
100,000.00
100,424.36
0.00 0.00
100,415.89
729.17
0.00 1,093.75
364.58
0.00 (8.47)
(8.47)
356.11
356.11
747525BU6 QUALCOMM INC 4.5
05/20/2030
09/19/2025
09/22/2025
100,000.00
101,766.00
0.00 0.00
101,729.77
1,262.50
0.00 1,637.50
375.00
0.00 (36.23)
(36.23)
338.77
338.77
756109AU8 REALTY INCOME CORP 3.65
01/15/2028
01/10/2023
01/17/2023
1,740,000.00
1,704,942.20
0.00 0.00
1,706,528.75
8,115.17
0.00 13,407.67
5,292.50
1,586.56
0.00 1,586.56
6,879.06
6,879.06
149 of 11211
CONFIDENTIAL | 46
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
756109CB8 REALTY INCOME CORP 4.0
07/15/2029
09/03/2025
09/04/2025
100,000.00
99,551.76
0.00 0.00
99,563.04
511.11
0.00 844.44
333.33
11.28 0.00
11.28 344.61
344.61
78016FZW7 ROYAL BANK OF CANADA 4.9
01/12/2028
01/09/2023
01/12/2023
1,870,000.00
1,869,629.83
0.00 0.00
1,869,646.66
12,471.86
0.00 20,107.69
7,635.83
16.83 0.00
16.83 7,652.66
7,652.66
78016HZV5 ROYAL BANK OF CANADA
4.95 02/01/2029
04/08/2024
04/10/2024
1,200,000.00
1,194,889.64
0.00 0.00
1,195,037.97
4,950.00
0.00 9,900.00
4,950.00
148.33
0.00 148.33
5,098.33
5,098.33
79466LAQ7 SALESFORCE INC 4.5
03/15/2028
03/12/2026
03/13/2026
2,775,000.00
0.00 2,781,730.80
0.00 2,781,549.14
0.00 0.00
6,243.75
6,243.75
0.00 (181.66)
(181.66)
6,062.09
6,062.09
808513BR5 CHARLES SCHWAB CORP 1.15
05/13/2026
06/25/2021
06/29/2021
750,000.00
750,009.40
0.00 0.00
750,002.62
2,587.50
0.00 3,306.25
718.75
0.00 (6.78)
(6.78)
711.97
711.97
828807DK0 SIMON PROPERTY GROUP LP
2.65 07/15/2030 4,100,000.00
3,832,165.84
0.00 0.00
3,837,364.88
13,883.06
0.00 22,937.22
9,054.17
5,199.04
0.00 5,199.04
14,253.20
14,253.20
857449AE2 STATE STREET BANK AND
TRUST CO 4.782 11/23/2029
11/29/2024
12/02/2024
3,000,000.00
3,018,318.36
0.00 0.00
3,017,901.73
39,053.00
0.00 51,008.00
11,955.00
0.00 (416.63)
(416.63)
11,538.37
11,538.37
87612EBM7 TARGET CORP 1.95
01/15/2027
01/19/2022
01/24/2022
425,000.00
424,872.76
0.00 0.00
424,885.08
1,058.96
0.00 1,749.58
690.63
12.33 0.00
12.33 702.95
702.95
89115A2Y7 TORONTO-DOMINION BANK
4.994 04/05/2029
03/26/2024
04/05/2024
1,335,000.00
1,335,000.00
0.00 0.00
1,335,000.00
27,038.35
0.00 32,594.17
5,555.83
0.00 0.00
0.00 5,555.83
5,555.83
150 of 11211
CONFIDENTIAL | 47
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
89231HAD8 TAOT 2025-B A3 4.34
11/15/2029 1,295,000.00
1,296,475.70
0.00 0.00
1,296,433.11
2,497.91
4,683.58
2,497.91
4,683.58
1.23 (43.81)
(42.59)
4,640.99
4,640.99
89236TKQ7 TOYOTA MOTOR CREDIT
CORP 4.625 01/12/2028
01/09/2023
01/12/2023
2,330,000.00
2,329,425.64
0.00 0.00
2,329,451.75
14,667.67
0.00 23,647.88
8,980.21
26.11 0.00
26.11 9,006.32
9,006.32
89236TMK8 TOYOTA MOTOR CREDIT
CORP 4.55 08/09/2029
08/07/2024
08/09/2024
2,000,000.00
1,998,843.50
0.00 0.00
1,998,872.03
5,561.11
0.00 13,144.44
7,583.33
28.52 0.00
28.52 7,611.85
7,611.85
89236TNR2 TOYOTA MOTOR CREDIT
CORP 4.05 09/05/2028
09/03/2025
09/05/2025
100,000.00
100,119.91
0.00 0.00
100,115.86
1,980.00
2,025.00
292.50
337.50
0.00 (4.04)
(4.04)
333.46
333.46
912797RS8 UNITED STATES TREASURY
09/03/2026
09/11/2025
09/12/2025
250,000.00
245,487.24
0.00 0.00
246,239.36
0.00 0.00
0.00 0.00
752.13
0.00 752.13
752.13
752.13
9128285M8 UNITED STATES TREASURY
3.125 11/15/2028
09/04/2025
09/05/2025
250,000.00
247,141.86
0.00 0.00
247,231.36
2,287.64
0.00 2,956.66
669.03
89.50 0.00
89.50 758.52
758.52
9128286B1 UNITED STATES TREASURY
2.625 02/15/2029
09/02/2025
09/03/2025
250,000.00
242,936.18
0.00 0.00
243,138.56
253.80
0.00 815.78
561.98
202.38
0.00 202.38
764.37
764.37
91282CCP4 UNITED STATES TREASURY
0.625 07/31/2026
08/04/2021
08/05/2021
375,000.00
374,915.63
0.00 0.00
374,932.84
187.76
0.00 388.47
200.71
17.21 0.00
17.21 217.91
217.91
91282CCZ2 UNITED STATES TREASURY
0.875 09/30/2026 2,240,000.00
2,237,385.13
0.00 0.00
2,237,765.70
8,184.62
9,800.00
53.55 1,668.94
380.57
0.00 380.57
2,049.50
2,049.50
151 of 11211
CONFIDENTIAL | 48
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CDG3 UNITED STATES TREASURY
1.125 10/31/2026
11/15/2021
11/17/2021
740,000.00
739,391.77
0.00 0.00
739,469.05
2,782.67
0.00 3,495.58
712.91
77.28 0.00
77.28 790.19
790.19
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027
02/15/2023
02/16/2023
5,000,000.00
4,917,465.53
0.00 0.00
4,923,942.92
52,197.80
62,500.00
341.53
10,643.73
6,477.39
0.00 6,477.39
17,121.12
17,121.12
91282CFJ5 UNITED STATES TREASURY
3.125 08/31/2029
09/02/2025
09/03/2025
250,000.00
245,519.62
0.00 0.00
245,628.22
21.23 3,906.25
679.35
4,564.37
108.59
0.00 108.59
4,672.96
4,672.96
91282CFZ9 UNITED STATES TREASURY
3.875 11/30/2027
12/16/2022
12/20/2022
1,800,000.00
1,804,900.97
0.00 0.00
1,804,663.21
17,437.50
0.00 23,377.75
5,940.25
0.00 (237.76)
(237.76)
5,702.49
5,702.49
91282CGB1 UNITED STATES TREASURY
3.875 12/31/2029
09/04/2025
09/05/2025
250,000.00
252,176.23
0.00 0.00
252,128.08
1,605.66
0.00 2,435.26
829.59
0.00 (48.15)
(48.15)
781.44
781.44
91282CGC9 UNITED STATES TREASURY
3.875 12/31/2027
12/28/2022
01/03/2023
3,800,000.00
3,794,787.26
0.00 0.00
3,795,028.44
24,406.08
0.00 37,015.88
12,609.81
241.19
0.00 241.19
12,850.99
12,850.99
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028
02/03/2023
02/06/2023
5,000,000.00
4,989,994.74
0.00 0.00
4,990,437.20
14,019.34
0.00 29,005.52
14,986.19
442.46
0.00 442.46
15,428.65
15,428.65
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 3,750,000.00
3,747,310.03
0.00 0.00
3,747,424.26
407.61
75,000.00
13,043.48
87,635.87
303.23
(189.00)
114.23
87,750.10
87,750.10
91282CGQ8 UNITED STATES TREASURY 4.0
02/28/2030 5,250,000.00
5,245,279.30
0.00 0.00
5,245,379.54
570.65
105,000.00
18,260.87
122,690.22
157.68
(57.44)
100.23
122,790.45
122,790.45
152 of 11211
CONFIDENTIAL | 49
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CGS4 UNITED STATES TREASURY
3.625 03/31/2030 7,000,000.00
6,939,852.32
0.00 0.00
6,941,102.88
105,961.54
126,875.00
693.31
21,606.77
1,250.56
0.00 1,250.56
22,857.32
22,857.32
91282CHE4 UNITED STATES TREASURY
3.625 05/31/2028 5,000,000.00
4,960,891.04
0.00 0.00
4,962,365.95
45,312.50
0.00 60,748.63
15,436.13
1,474.91
0.00 1,474.91
16,911.04
16,911.04
91282CHQ7 UNITED STATES TREASURY
4.125 07/31/2028 5,000,000.00
4,968,679.62
0.00 0.00
4,969,779.20
16,522.79
0.00 34,185.08
17,662.29
1,099.58
0.00 1,099.58
18,761.88
18,761.88
91282CHR5 UNITED STATES TREASURY 4.0
07/31/2030
09/02/2025
09/03/2025
250,000.00
252,513.98
0.00 0.00
252,465.67
801.11
0.00 1,657.46
856.35
0.00 (48.32)
(48.32)
808.04
808.04
91282CHU8 UNITED STATES TREASURY
4.375 08/15/2026
09/02/2025
09/03/2025
250,000.00
250,542.05
0.00 0.00
250,441.43
423.00
0.00 1,359.63
936.64
0.00 (100.62)
(100.62)
836.02
836.02
91282CHX2 UNITED STATES TREASURY
4.375 08/31/2028
09/02/2025
09/03/2025
250,000.00
254,352.65
0.00 0.00
254,205.02
29.72 5,468.75
951.09
6,390.12
0.00 (147.63)
(147.63)
6,242.49
6,242.49
91282CJF9 UNITED STATES TREASURY
4.875 10/31/2028
10/27/2023
10/31/2023
3,000,000.00
3,006,066.24
0.00 0.00
3,005,873.36
48,884.67
0.00 61,408.84
12,524.17
0.00 (192.88)
(192.88)
12,331.30
12,331.30
91282CJN2 UNITED STATES TREASURY
4.375 11/30/2028
12/28/2023
12/29/2023
1,100,000.00
1,114,986.96
0.00 0.00
1,114,524.68
12,031.25
0.00 16,129.81
4,098.56
0.00 (462.28)
(462.28)
3,636.27
3,636.27
91282CJR3 UNITED STATES TREASURY
3.75 12/31/2028 3,750,000.00
3,727,382.10
0.00 0.00
3,728,058.89
23,308.01
0.00 35,350.48
12,042.47
676.79
0.00 676.79
12,719.26
12,719.26
153 of 11211
CONFIDENTIAL | 50
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 5,500,000.00
5,456,975.53
0.00 0.00
5,458,225.54
17,624.31
0.00 36,464.09
18,839.78
1,250.01
0.00 1,250.01
20,089.79
20,089.79
91282CKE0 UNITED STATES TREASURY
4.25 03/15/2027
09/11/2025
09/12/2025
250,000.00
251,624.74
0.00 0.00
251,491.85
4,901.59
5,312.50
490.83
901.74
0.00 (132.89)
(132.89)
768.85
768.85
91282CKG5 UNITED STATES TREASURY
4.125 03/31/2029
04/10/2024
04/11/2024
5,000,000.00
4,938,809.62
0.00 0.00
4,940,494.26
86,126.37
103,125.00
563.52
17,562.15
1,684.64
0.00 1,684.64
19,246.79
19,246.79
91282CKP5 UNITED STATES TREASURY
4.625 04/30/2029
05/03/2024
05/06/2024
4,000,000.00
4,016,226.48
0.00 0.00
4,015,791.34
61,837.02
0.00 77,679.56
15,842.54
0.00 (435.14)
(435.14)
15,407.40
15,407.40
91282CKR1 UNITED STATES TREASURY 4.5
05/15/2027
09/19/2025
09/22/2025
250,000.00
252,592.45
0.00 0.00
252,409.80
3,294.20
0.00 4,257.60
963.40
0.00 (182.65)
(182.65)
780.75
780.75
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029
06/21/2024
06/24/2024
2,000,000.00
2,014,152.03
0.00 0.00
2,013,782.43
22,500.00
0.00 30,164.84
7,664.84
0.00 (369.60)
(369.60)
7,295.24
7,295.24
91282CKX8 UNITED STATES TREASURY
4.25 06/30/2029
07/18/2024
07/19/2024
2,250,000.00
2,260,714.05
0.00 0.00
2,260,441.13
15,849.45
0.00 24,038.33
8,188.88
0.00 (272.91)
(272.91)
7,915.97
7,915.97
91282CKZ3 UNITED STATES TREASURY
4.375 07/15/2027
07/30/2024
07/31/2024
4,000,000.00
4,010,447.17
0.00 0.00
4,009,800.74
21,754.14
0.00 36,740.33
14,986.19
0.00 (646.43)
(646.43)
14,339.76
14,339.76
91282CLB5 UNITED STATES TREASURY
4.375 07/31/2026
07/30/2024
07/31/2024
4,000,000.00
4,000,260.27
0.00 0.00
4,000,207.19
14,019.34
0.00 29,005.52
14,986.19
0.00 (53.08)
(53.08)
14,933.11
14,933.11
154 of 11211
CONFIDENTIAL | 51
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029
07/30/2024
07/31/2024
4,000,000.00
3,995,408.00
0.00 0.00
3,995,522.06
12,817.68
0.00 26,519.34
13,701.66
114.06
0.00 114.06
13,815.72
13,815.72
91282CLG4 UNITED STATES TREASURY
3.75 08/15/2027
09/02/2025
09/03/2025
250,000.00
250,277.67
0.00 0.00
250,261.49
362.57
0.00 1,165.40
802.83
0.00 (16.18)
(16.18)
786.65
786.65
91282CLK5 UNITED STATES TREASURY
3.625 08/31/2029 11,000,000.00
11,046,179.41
0.00 0.00
11,045,060.13
1,083.56
199,375.00
34,673.91
232,965.35
0.00 (1,119.28)
(1,119.28)
231,846.07
231,846.07
91282CLL3 UNITED STATES TREASURY
3.375 09/15/2027
09/11/2025
09/12/2025
250,000.00
249,437.45
0.00 0.00
249,468.42
3,892.44
4,218.75
389.78
716.09
30.98 0.00
30.98 747.06
747.06
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029
10/04/2024
10/07/2024
3,000,000.00
2,974,363.32
0.00 0.00
2,974,970.45
43,846.15
52,500.00
286.89
8,940.73
607.13
0.00 607.13
9,547.86
9,547.86
91282CLR0 UNITED STATES TREASURY
4.125 10/31/2029
11/19/2024
11/20/2024
5,000,000.00
4,981,740.56
0.00 0.00
4,982,162.98
68,939.92
0.00 86,602.21
17,662.29
422.42
0.00 422.42
18,084.71
18,084.71
91282CLS8 UNITED STATES TREASURY
4.125 10/31/2026
11/21/2024
11/22/2024
3,000,000.00
2,996,607.52
0.00 0.00
2,997,038.53
41,363.95
0.00 51,961.33
10,597.38
431.01
0.00 431.01
11,028.39
11,028.39
91282CLX7 UNITED STATES TREASURY
4.125 11/15/2027 5,250,000.00
5,243,564.25
0.00 0.00
5,243,883.98
63,413.33
0.00 81,958.74
18,545.41
432.48
(112.75)
319.72
18,865.13
18,865.13
91282CMA6 UNITED STATES TREASURY
4.125 11/30/2029
12/16/2024
12/17/2024
5,000,000.00
4,978,256.50
0.00 0.00
4,978,748.51
51,562.50
0.00 69,127.75
17,565.25
492.01
0.00 492.01
18,057.25
18,057.25
155 of 11211
CONFIDENTIAL | 52
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CMF5 UNITED STATES TREASURY
4.25 01/15/2028
09/02/2025
09/03/2025
250,000.00
252,686.62
0.00 0.00
252,565.03
1,320.79
0.00 2,230.66
909.88
0.00 (121.58)
(121.58)
788.29
788.29
91282CMP3 UNITED STATES TREASURY
4.125 02/28/2027
09/02/2025
09/03/2025
250,000.00
250,896.85
0.00 0.00
250,820.47
28.02 5,156.25
896.74
6,024.97
0.00 (76.38)
(76.38)
5,948.59
5,948.59
91282CMS7 UNITED STATES TREASURY
3.875 03/15/2028
09/19/2025
09/22/2025
250,000.00
251,591.74
0.00 0.00
251,525.51
4,469.10
4,843.75
447.52
822.18
0.00 (66.23)
(66.23)
755.94
755.94
91282CMZ1 UNITED STATES TREASURY
3.875 04/30/2030 8,000,000.00
7,958,506.31
0.00 0.00
7,959,352.01
103,618.78
0.00 130,165.75
26,546.96
845.70
0.00 845.70
27,392.66
27,392.66
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 10,000,000.00
9,996,174.42
0.00 0.00
9,996,250.84
100,000.00
0.00 134,065.93
34,065.93
76.41 0.00
76.41 34,142.35
34,142.35
91282CNK3 UNITED STATES TREASURY
3.875 06/30/2030
07/09/2025
07/10/2025
5,000,000.00
4,979,582.53
0.00 0.00
4,979,982.62
32,113.26
0.00 48,705.11
16,591.85
400.09
0.00 400.09
16,991.94
16,991.94
91282CNL1 UNITED STATES TREASURY
3.75 06/30/2027
09/19/2025
09/22/2025
250,000.00
250,499.59
0.00 0.00
250,467.72
1,553.87
0.00 2,356.70
802.83
0.00 (31.87)
(31.87)
770.96
770.96
91282CNX5 UNITED STATES TREASURY
3.625 08/31/2030 10,250,000.00
10,221,720.80
0.00 0.00
10,222,254.04
1,009.68
185,781.25
32,309.78
217,081.35
548.43
(15.19)
533.25
217,614.60
217,614.60
91282CNY3 UNITED STATES TREASURY
3.375 09/15/2028
09/19/2025
09/22/2025
250,000.00
248,892.00
0.00 0.00
248,928.97
3,892.44
4,218.75
389.78
716.09
36.97 0.00
36.97 753.06
753.06
156 of 11211
CONFIDENTIAL | 53
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
91282CPA3 UNITED STATES TREASURY
3.625 09/30/2030 7,500,000.00
7,473,740.79
0.00 0.00
7,474,227.07
113,530.22
135,937.50
742.83
23,150.11
486.28
0.00 486.28
23,636.39
23,636.39
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030
12/08/2025
12/09/2025
250,000.00
247,165.23
0.00 0.00
247,215.88
2,187.50
0.00 2,932.69
745.19
50.65 0.00
50.65 795.84
795.84
92826CAZ5 VISA INC 4.1 02/12/2031
02/03/2026
02/12/2026
2,690,000.00
2,686,428.96
0.00 0.00
2,686,490.15
5,820.86
0.00 15,011.69
9,190.83
61.20 0.00
61.20 9,252.03
9,252.03
92970QAE5 WFCIT 2024-2 A 4.29
10/15/2029 3,525,000.00
3,524,519.14
0.00 0.00
3,524,530.40
6,721.00
12,601.88
6,721.00
12,601.88
11.26 0.00
11.26 12,613.14
12,613.14
92970QAJ4 WFCIT 2025-1 A 4.34
05/15/2030
09/03/2025
09/04/2025
150,000.00
151,478.23
0.00 0.00
151,421.38
289.33
542.50
289.33
542.50
0.00 (56.86)
(56.86)
485.65
485.65
931142ER0 WALMART INC 1.05
09/17/2026
09/08/2021
09/17/2021
185,000.00
184,961.70
0.00 0.00
184,967.64
884.92
971.25
75.54 161.88
5.94 0.00
5.94 167.81
167.81
95000U4A8 WELLS FARGO & CO 4.078
09/15/2029
09/19/2025
09/22/2025
100,000.00
99,940.37
0.00 0.00
99,941.80
1,880.41
2,039.00
181.24
339.83
1.43 0.00
1.43 341.26
341.26
Total Fixed Income 413,041,541.99
414,230,523.31
2,781,730.80
(7,098,223.74)
409,990,237.65
2,876,390.30
1,607,522.68
3,178,933.57
1,910,065.95
91,377.59
(15,170.30)
76,207.29
1,986,273.24 1,986,273.24
LAIF
90LAIF$00 Local Agency Investment
Fund State Pool 73,905,797.37
73,905,797.37
0.00 0.00
73,905,797.37
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 157 of 11211
CONFIDENTIAL | 54
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income
Total LAIF 73,905,797.37
73,905,797.37
0.00 0.00
73,905,797.37
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00 0.00
LOCAL GOV INVESTMENT
POOL
90CAMP$00 CAMP
69,794,954.54
64,576,935.90
5,218,018.64
0.00 69,794,954.54
0.00 218,018.64
0.00 218,018.64
0.00 0.00
0.00 218,018.64
218,018.64
90SMCP$00 San Mateo County
Investment Pool 41,963,470.77
38,594,699.18
8,118,771.59
(4,750,000.00)
41,963,470.77
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 Total Local Gov Investment
Pool 111,758,425.31
103,171,635.08
13,336,790.23
(4,750,000.00)
111,758,425.31
0.00 218,018.64
0.00 218,018.64
0.00 0.00
0.00 218,018.64 218,018.64
TOTAL PORTFOLIO 611,740,831.03
598,714,295.40
24,856,514.75
(14,629,954.54)
608,689,526.70
2,876,390.30
1,837,799.53
3,178,933.57
2,140,342.80
91,377.59
(15,170.30)
76,207.29
2,216,550.09 2,216,550.09
158 of 11211
CONFIDENTIAL | 55
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount APRIL 2026
04/02/2026 Coupon 40139LBH5 0.00 GUARDIAN LIFE GLOBAL FUNDING 5.737 10/02/2028 20,796.63 20,796.63
04/02/2026 Dividend 261941108 0.00 DREYFUS TRS SEC INST 20,443.69 20,443.69 04/02/2026 Dividend 261941108 0.00 DREYFUS TRS SEC INST 177.97 177.97 04/06/2026 Coupon 89115A2Y7 0.00 TORONTO-DOMINION BANK 4.994 04/05/2029 33,334.95 33,334.95 04/06/2026 Coupon 40139LBN2 0.00 GUARDIAN LIFE GLOBAL FUNDING 4.327 10/06/2030 2,163.50 2,163.50
04/15/2026 Dividend 90LAIF$00 73,905,797.37 Local Agency Investment Fund State Pool 710,639.01 710,639.01 04/16/2026 Coupon 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 535.00 535.00 04/16/2026 Coupon 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,774.00 4,774.00 04/16/2026 Coupon 459058LN1 3,250,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 62,968.75 62,968.75
04/20/2026 Coupon 06405LAH4 2,750,000.00 BANK OF NEW YORK MELLON 4.729 04/20/2029 65,023.75 65,023.75
04/20/2026 Coupon 36269WAD1 1,482,770.06 GMALT 2024-2 A3 5.39 07/20/2027 6,660.11 6,660.11 04/20/2026 Principal Paydown 36269WAD1 1,482,770.06 GMALT 2024-2 A3 5.39 07/20/2027 424,460.65 424,460.65 04/20/2026 Coupon 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 6,583.75 6,583.75 04/20/2026 Coupon 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 2,709.01 2,709.01 04/20/2026 Principal Paydown 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 40,682.60 40,682.60 04/20/2026 Coupon 4581X0DV7 1,520,000.00 INTER-AMERICAN DEVELOPMENT BANK 0.875 04/20/2026 6,650.00 6,650.00
04/20/2026 Final Maturity 4581X0DV7 1,520,000.00 INTER-AMERICAN DEVELOPMENT BANK 0.875 04/20/2026 1,520,000.00 1,520,000.00
04/20/2026 Coupon 61748UAK8 2,950,000.00 MORGAN STANLEY 4.133 10/18/2029 59,607.04 59,607.04 04/21/2026 Coupon 3130ALWV2 3,000,000.00 FEDERAL HOME LOAN BANKS 1.35 04/21/2026 20,250.00 20,250.00 04/21/2026 Final Maturity 3130ALWV2 3,000,000.00 FEDERAL HOME LOAN BANKS 1.35 04/21/2026 3,000,000.00 3,000,000.00 04/21/2026 Coupon 38141GD27 3,155,000.00 GOLDMAN SACHS GROUP INC 4.153 10/21/2029 65,513.58 65,513.58
04/21/2026 Coupon 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 6,531.29 6,531.29 04/21/2026 Principal Paydown 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 49,781.85 49,781.85 04/23/2026 Coupon 141781CF9 2,200,000.00 CARGILL INC 4.125 10/23/2030 45,375.00 45,375.00 159 of 11211
CONFIDENTIAL | 56
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/23/2026 Coupon 38141GWV2 100,000.00 GOLDMAN SACHS GROUP INC 3.814 04/23/2029 1,907.00 1,907.00
04/27/2026 Coupon 025816ED7 3,000,000.00 AMERICAN EXPRESS CO 4.731 04/25/2029 70,965.00 70,965.00 04/27/2026 Coupon 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 3,413.97 3,413.97 04/27/2026 Principal Paydown 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 11,783.03 11,783.03 04/27/2026 Coupon 3137BQYS0 568,403.98 FHMS K-056 A2 2.525 05/25/2026 1,196.02 1,196.02 04/27/2026 Principal Paydown 3137BQYS0 568,403.98 FHMS K-056 A2 2.525 05/25/2026 193,460.48 193,460.48 04/27/2026 Coupon 3137BSP72 410,000.00 FHMS K-058 A2 2.653 08/25/2026 906.44 906.44 04/27/2026 Coupon 3137F9Z79 150,000.00 FHMS K-125 A2 1.846 01/25/2031 230.75 230.75 04/27/2026 Coupon 3137FG6X8 3,250,000.00 FHMS K-077 A2 3.85 05/25/2028 10,427.08 10,427.08 04/27/2026 Coupon 3137FHPJ6 1,895,000.00 FHMS K-080 A2 3.926 07/25/2028 6,199.81 6,199.81 04/27/2026 Coupon 3137FJEH8 6,400,000.00 FHMS K-081 A2 3.9 08/25/2028 20,800.00 20,800.00 04/27/2026 Coupon 3137FK4M5 1,890,000.00 FHMS K-085 A2 4.06 10/25/2028 6,394.50 6,394.50 04/27/2026 Coupon 3137FKSH0 200,000.00 FHMS K-086 A2 3.859 11/25/2028 643.17 643.17 04/27/2026 Coupon 3137FKSH0 1,800,000.00 FHMS K-086 A2 3.859 11/25/2028 5,788.50 5,788.50 04/27/2026 Coupon 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 4,578.57 4,578.57 04/27/2026 Principal Paydown 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 1,647.37 1,647.37 04/27/2026 Coupon 3137FLMV3 100,000.00 FHMS K-090 A2 3.422 02/25/2029 285.17 285.17 04/27/2026 Coupon 3137FLN91 200,000.00 FHMS K-091 A2 3.505 03/25/2029 584.17 584.17 04/27/2026 Coupon 3137FLN91 1,915,000.00 FHMS K-091 A2 3.505 03/25/2029 5,593.40 5,593.40 04/27/2026 Coupon 3137FLYV0 4,540,000.00 FHMS K-092 A2 3.298 04/25/2029 12,477.43 12,477.43 04/27/2026 Coupon 3137FNAE0 200,000.00 FHMS K-095 A2 2.785 06/25/2029 464.17 464.17 04/27/2026 Coupon 3137FQKC6 100,000.00 FHMS K-102 A2 2.537 10/25/2029 211.42 211.42 04/27/2026 Coupon 3137FREH0 1,950,000.00 FHMS K-104 A2 2.253 01/25/2030 3,661.13 3,661.13 04/27/2026 Coupon 3137FTZQ3 300,000.00 FHMS K-110 A2 1.477 04/25/2030 369.25 369.25 04/27/2026 Coupon 3137FTZQ3 3,400,000.00 FHMS K-110 A2 1.477 04/25/2030 4,184.83 4,184.83 04/27/2026 Coupon 3137FYUJ3 6,775,000.00 FHMS K-128 A2 2.02 03/25/2031 11,404.58 11,404.58 04/27/2026 Coupon 3137H5YC5 2,500,000.00 FHMS K-748 A2 2.26 01/25/2029 4,708.33 4,708.33 04/27/2026 Coupon 3137H74P5 1,415,000.00 FHMS K-749 A2 2.12 03/26/2029 2,499.83 2,499.83 04/27/2026 Coupon 3137H9D71 5,000,000.00 FHMS K-750 A2 3.0 09/25/2029 12,500.00 12,500.00 04/27/2026 Coupon 3137HA4B9 1,887,000.00 FHMS K-751 A2 4.412 03/25/2030 6,937.87 6,937.87 04/27/2026 Coupon 3137HH5X5 5,000,000.00 FHMS K757 A2 4.456 08/25/2031 18,566.67 18,566.67 160 of 11211
CONFIDENTIAL | 57
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/27/2026 Coupon 3137HQDH1 4,750,000.00 FHMS K-764 A2 4.12 12/25/2032 16,308.33 16,308.33 04/27/2026 Coupon 64953BBW7 2,615,000.00 NEW YORK LIFE GLOBAL FUNDING 4.4 04/25/2028 57,530.00 57,530.00
04/28/2026 Coupon 3130ALZQ0 5,000,000.00 FEDERAL HOME LOAN BANKS 1.25 04/28/2026 31,250.00 31,250.00 04/28/2026 Final Maturity 3130ALZQ0 5,000,000.00 FEDERAL HOME LOAN BANKS 1.25 04/28/2026 5,000,000.00 5,000,000.00 04/28/2026 Coupon 40139LBG7 790,000.00 GUARDIAN LIFE GLOBAL FUNDING 5.55 10/28/2027 21,922.50 21,922.50
04/28/2026 Coupon 40139LBK8 2,000,000.00 GUARDIAN LIFE GLOBAL FUNDING 4.798 04/28/2030 47,980.00 47,980.00
04/30/2026 Coupon 91282CDG3 740,000.00 UNITED STATES TREASURY 1.125 10/31/2026 4,162.50 4,162.50 04/30/2026 Coupon 91282CJF9 3,000,000.00 UNITED STATES TREASURY 4.875 10/31/2028 73,125.00 73,125.00 04/30/2026 Coupon 91282CKP5 4,000,000.00 UNITED STATES TREASURY 4.625 04/30/2029 92,500.00 92,500.00 04/30/2026 Coupon 91282CLR0 5,000,000.00 UNITED STATES TREASURY 4.125 10/31/2029 103,125.00 103,125.00 04/30/2026 Coupon 91282CLS8 3,000,000.00 UNITED STATES TREASURY 4.125 10/31/2026 61,875.00 61,875.00 04/30/2026 Coupon 91282CMZ1 8,000,000.00 UNITED STATES TREASURY 3.875 04/30/2030 155,000.00 155,000.00 April 2026 Total 10,973,076.65 1,292,153.74 12,265,230.39 MAY 2026
05/01/2026 Coupon 13063DYT9 2,000,000.00 CALIFORNIA ST 1.75 11/01/2030 17,500.00 17,500.00 05/01/2026 Coupon 13063ESC1 100,000.00 CALIFORNIA ST 4.35 11/01/2032 2,114.58 2,114.58 05/01/2026 Coupon 13063ESC1 4,500,000.00 CALIFORNIA ST 4.35 11/01/2032 95,156.25 95,156.25 05/01/2026 Coupon 665859AV6 100,000.00 NORTHERN TRUST CORP 1.95 05/01/2030 975.00 975.00 05/07/2026 Coupon 57629TBX4 2,000,000.00 MASSMUTUAL GLOBAL FUNDING II 4.55 05/07/2030 45,500.00 45,500.00
05/11/2026 Coupon 06051GMT3 3,000,000.00 BANK OF AMERICA CORP 4.623 05/09/2029 69,345.00 69,345.00 05/12/2026 Coupon 023135BX3 1,160,000.00 AMAZON.COM INC 1.0 05/12/2026 5,800.00 5,800.00 05/12/2026 Final Maturity 023135BX3 1,160,000.00 AMAZON.COM INC 1.0 05/12/2026 1,160,000.00 1,160,000.00 05/13/2026 Coupon 808513BR5 750,000.00 CHARLES SCHWAB CORP 1.15 05/13/2026 4,312.50 4,312.50 05/13/2026 Final Maturity 808513BR5 750,000.00 CHARLES SCHWAB CORP 1.15 05/13/2026 750,000.00 750,000.00 05/15/2026 Coupon 02582JKH2 1,760,000.00 AMXCA 2024-1 A 5.23 04/16/2029 7,670.67 7,670.67 05/15/2026 Coupon 02582JKP4 3,075,000.00 AMXCA 2025-2 A 4.28 04/15/2030 10,967.50 10,967.50 05/15/2026 Coupon 02589BAE0 2,000,000.00 AMXCA 2024-3 A 4.65 07/15/2027 7,750.00 7,750.00 05/15/2026 Coupon 05522RDJ4 1,125,000.00 BACCT 2024-1 A 4.93 05/15/2029 4,621.88 4,621.88 161 of 11211
CONFIDENTIAL | 58
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/15/2026 Coupon 05522RDK1 112,000.00 BACCT 2025-1 A 4.31 05/15/2030 402.27 402.27 05/15/2026 Coupon 161571HT4 2,345,000.00 CHAIT 2023-1 A 5.16 09/15/2028 10,083.50 10,083.50 05/15/2026 Coupon 161571HV9 3,000,000.00 CHAIT 241 A 4.6 01/16/2029 11,500.00 11,500.00 05/15/2026 Coupon 161571HZ0 100,000.00 CHAIT 2025-1 A 4.16 07/15/2030 346.67 346.67 05/15/2026 Coupon 26442CAX2 2,000,000.00 DUKE ENERGY CAROLINAS LLC 3.95 11/15/2028 39,500.00 39,500.00
05/15/2026 Coupon 341081GP6 100,000.00 FLORIDA POWER & LIGHT CO 4.625 05/15/2030 2,312.50 2,312.50
05/15/2026 Coupon 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 7,107.08 7,107.08 05/15/2026 Coupon 437921AD1 1,170,000.00 HAROT 252 A3 4.15 10/15/2029 4,046.25 4,046.25 05/15/2026 Coupon 44934FAD7 413,705.38 HALST 2024-B A3 5.41 05/17/2027 1,865.12 1,865.12 05/15/2026 Principal Paydown 44934FAD7 413,705.38 HALST 2024-B A3 5.41 05/17/2027 123,831.23 123,831.23 05/15/2026 Coupon 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 6,930.00 6,930.00 05/15/2026 Coupon 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 4,454.50 4,454.50 05/15/2026 Coupon 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 603.75 603.75 05/15/2026 Coupon 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 6,158.25 6,158.25 05/15/2026 Coupon 47800BAC2 80,105.27 JDOT 2022-C A3 5.09 06/15/2027 339.78 339.78 05/15/2026 Principal Paydown 47800BAC2 80,105.27 JDOT 2022-C A3 5.09 06/15/2027 36,394.61 36,394.61 05/15/2026 Coupon 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 2,114.16 2,114.16 05/15/2026 Principal Paydown 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 80,002.59 80,002.59 05/15/2026 Coupon 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 5,375.63 5,375.63 05/15/2026 Coupon 58768YAD7 150,000.00 MBALT 2025-A A3 4.61 04/16/2029 576.25 576.25 05/15/2026 Coupon 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 2,119.23 2,119.23 05/15/2026 Principal Paydown 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 52,865.44 52,865.44 05/15/2026 Coupon 89231HAD8 150,000.00 TAOT 2025-B A3 4.34 11/15/2029 542.50 542.50 05/15/2026 Coupon 89231HAD8 1,145,000.00 TAOT 2025-B A3 4.34 11/15/2029 4,141.08 4,141.08 05/15/2026 Coupon 9128285M8 250,000.00 UNITED STATES TREASURY 3.125 11/15/2028 3,906.25 3,906.25 05/15/2026 Coupon 91282CKR1 250,000.00 UNITED STATES TREASURY 4.5 05/15/2027 5,625.00 5,625.00 05/15/2026 Coupon 91282CLX7 250,000.00 UNITED STATES TREASURY 4.125 11/15/2027 5,156.25 5,156.25 05/15/2026 Coupon 91282CLX7 5,000,000.00 UNITED STATES TREASURY 4.125 11/15/2027 103,125.00 103,125.00 05/15/2026 Coupon 92970QAE5 3,525,000.00 WFCIT 2024-2 A 4.29 10/15/2029 12,601.88 12,601.88 05/15/2026 Coupon 92970QAJ4 150,000.00 WFCIT 2025-1 A 4.34 05/15/2030 542.50 542.50 162 of 11211
CONFIDENTIAL | 59
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/18/2026 Coupon 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 535.00 535.00 05/18/2026 Coupon 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,774.00 4,774.00 05/18/2026 Coupon 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 2,530.35 2,530.35 05/18/2026 Principal Paydown 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 39,111.58 39,111.58 05/19/2026 Coupon 665859AY0 3,000,000.00 NORTHERN TRUST CORP 4.15 11/19/2030 62,250.00 62,250.00 05/20/2026 Coupon 36269WAD1 1,482,770.06 GMALT 2024-2 A3 5.39 07/20/2027 4,753.57 4,753.57 05/20/2026 Principal Paydown 36269WAD1 1,482,770.06 GMALT 2024-2 A3 5.39 07/20/2027 364,332.15 364,332.15 05/20/2026 Coupon 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 6,583.75 6,583.75 05/20/2026 Coupon 747525BU6 100,000.00 QUALCOMM INC 4.5 05/20/2030 2,250.00 2,250.00 05/21/2026 Coupon 00287YBX6 2,200,000.00 ABBVIE INC 3.2 11/21/2029 35,200.00 35,200.00 05/21/2026 Coupon 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 6,341.71 6,341.71 05/21/2026 Principal Paydown 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 102,145.27 102,145.27 05/25/2026 Coupon 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 3,363.11 3,363.11 05/25/2026 Principal Paydown 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 48,266.82 48,266.82 05/25/2026 Coupon 3137BQYS0 568,403.98 FHMS K-056 A2 2.525 05/25/2026 788.94 788.94 05/25/2026 Final Maturity 3137BQYS0 568,403.98 FHMS K-056 A2 2.525 05/25/2026 374,943.50 374,943.50 05/25/2026 Coupon 3137BSP72 410,000.00 FHMS K-058 A2 2.653 08/25/2026 906.44 906.44 05/25/2026 Coupon 3137F9Z79 150,000.00 FHMS K-125 A2 1.846 01/25/2031 230.75 230.75 05/25/2026 Coupon 3137FG6X8 3,250,000.00 FHMS K-077 A2 3.85 05/25/2028 10,427.08 10,427.08 05/25/2026 Coupon 3137FHPJ6 1,895,000.00 FHMS K-080 A2 3.926 07/25/2028 6,199.81 6,199.81 05/25/2026 Coupon 3137FJEH8 6,400,000.00 FHMS K-081 A2 3.9 08/25/2028 20,800.00 20,800.00 05/25/2026 Coupon 3137FK4M5 1,890,000.00 FHMS K-085 A2 4.06 10/25/2028 6,394.50 6,394.50 05/25/2026 Coupon 3137FKSH0 200,000.00 FHMS K-086 A2 3.859 11/25/2028 643.17 643.17 05/25/2026 Coupon 3137FKSH0 1,800,000.00 FHMS K-086 A2 3.859 11/25/2028 5,788.50 5,788.50 05/25/2026 Coupon 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 4,573.40 4,573.40 05/25/2026 Principal Paydown 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 1,800.77 1,800.77 05/25/2026 Coupon 3137FLMV3 100,000.00 FHMS K-090 A2 3.422 02/25/2029 285.17 285.17 05/25/2026 Coupon 3137FLN91 200,000.00 FHMS K-091 A2 3.505 03/25/2029 584.17 584.17 05/25/2026 Coupon 3137FLN91 1,915,000.00 FHMS K-091 A2 3.505 03/25/2029 5,593.40 5,593.40 05/25/2026 Coupon 3137FLYV0 4,540,000.00 FHMS K-092 A2 3.298 04/25/2029 12,477.43 12,477.43 05/25/2026 Coupon 3137FNAE0 200,000.00 FHMS K-095 A2 2.785 06/25/2029 464.17 464.17 05/25/2026 Coupon 3137FQKC6 100,000.00 FHMS K-102 A2 2.537 10/25/2029 211.42 211.42 163 of 11211
CONFIDENTIAL | 60
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/25/2026 Coupon 3137FREH0 1,950,000.00 FHMS K-104 A2 2.253 01/25/2030 3,661.13 3,661.13 05/25/2026 Coupon 3137FTZQ3 300,000.00 FHMS K-110 A2 1.477 04/25/2030 369.25 369.25 05/25/2026 Coupon 3137FTZQ3 3,400,000.00 FHMS K-110 A2 1.477 04/25/2030 4,184.83 4,184.83 05/25/2026 Coupon 3137FYUJ3 6,775,000.00 FHMS K-128 A2 2.02 03/25/2031 11,404.58 11,404.58 05/25/2026 Coupon 3137H5YC5 2,500,000.00 FHMS K-748 A2 2.26 01/25/2029 4,708.33 4,708.33 05/25/2026 Coupon 3137H74P5 1,415,000.00 FHMS K-749 A2 2.12 03/26/2029 2,499.83 2,499.83 05/25/2026 Coupon 3137H9D71 5,000,000.00 FHMS K-750 A2 3.0 09/25/2029 12,500.00 12,500.00 05/25/2026 Coupon 3137HA4B9 1,887,000.00 FHMS K-751 A2 4.412 03/25/2030 6,937.87 6,937.87 05/25/2026 Coupon 3137HH5X5 5,000,000.00 FHMS K757 A2 4.456 08/25/2031 18,566.67 18,566.67 05/25/2026 Coupon 3137HQDH1 4,750,000.00 FHMS K-764 A2 4.12 12/25/2032 16,308.33 16,308.33 05/26/2026 Coupon 3133ENEM8 2,750,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP
1.43 11/23/2026 19,662.50 19,662.50
05/26/2026 Coupon 857449AE2 3,000,000.00 STATE STREET BANK AND TRUST CO 4.782 11/23/2029 71,730.00 71,730.00
May 2026 Total 3,133,693.97 890,671.91 4,024,365.88
JUNE 2026
06/01/2026 Coupon 26444HAH4 2,000,000.00 DUKE ENERGY FLORIDA LLC 2.5 12/01/2029 25,000.00 25,000.00 06/01/2026 Coupon 57582TEA6 2,500,000.00 MASSACHUSETTS COMMONWEALTH 4.35 06/01/2030 54,375.00 54,375.00
06/01/2026 Coupon 57629W4T4 1,500,000.00 MASSMUTUAL GLOBAL FUNDING II 5.15 05/30/2029 38,625.00 38,625.00
06/01/2026 Coupon 91282CFZ9 1,800,000.00 UNITED STATES TREASURY 3.875 11/30/2027 34,875.00 34,875.00 06/01/2026 Coupon 91282CHE4 5,000,000.00 UNITED STATES TREASURY 3.625 05/31/2028 90,625.00 90,625.00 06/01/2026 Coupon 91282CJN2 1,100,000.00 UNITED STATES TREASURY 4.375 11/30/2028 24,062.50 24,062.50 06/01/2026 Coupon 91282CKT7 2,000,000.00 UNITED STATES TREASURY 4.5 05/31/2029 45,000.00 45,000.00 06/01/2026 Coupon 91282CMA6 5,000,000.00 UNITED STATES TREASURY 4.125 11/30/2029 103,125.00 103,125.00 06/01/2026 Coupon 91282CNG2 10,000,000.00 UNITED STATES TREASURY 4.0 05/31/2030 200,000.00 200,000.00 06/01/2026 Coupon 91282CPN5 250,000.00 UNITED STATES TREASURY 3.5 11/30/2030 4,375.00 4,375.00 06/05/2026 Coupon 24422EYD5 100,000.00 JOHN DEERE CAPITAL CORP 4.25 06/05/2028 2,125.00 2,125.00 06/08/2026 Coupon 3130APWY7 5,000,000.00 FEDERAL HOME LOAN BANKS 1.35 12/07/2026 33,750.00 33,750.00 06/08/2026 Coupon 3133EPME2 1,900,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP
3.875 06/08/2028 36,812.50 36,812.50
164 of 11211
CONFIDENTIAL | 61
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/08/2026 Coupon 64952WFG3 1,135,000.00 NEW YORK LIFE GLOBAL FUNDING 5.0 06/06/2029 28,375.00 28,375.00
06/10/2026 Coupon 63743HGC0 2,000,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.3 12/10/2030 43,000.00 43,000.00
06/15/2026 Coupon 02582JKH2 1,760,000.00 AMXCA 2024-1 A 5.23 04/16/2029 7,670.67 7,670.67 06/15/2026 Coupon 02582JKP4 3,075,000.00 AMXCA 2025-2 A 4.28 04/15/2030 10,967.50 10,967.50 06/15/2026 Coupon 02589BAE0 2,000,000.00 AMXCA 2024-3 A 4.65 07/15/2027 7,750.00 7,750.00 06/15/2026 Coupon 05522RDJ4 1,125,000.00 BACCT 2024-1 A 4.93 05/15/2029 4,621.88 4,621.88 06/15/2026 Coupon 05522RDK1 112,000.00 BACCT 2025-1 A 4.31 05/15/2030 402.27 402.27 06/15/2026 Coupon 161571HT4 2,345,000.00 CHAIT 2023-1 A 5.16 09/15/2028 10,083.50 10,083.50 06/15/2026 Coupon 161571HV9 3,000,000.00 CHAIT 241 A 4.6 01/16/2029 11,500.00 11,500.00 06/15/2026 Coupon 161571HZ0 100,000.00 CHAIT 2025-1 A 4.16 07/15/2030 346.67 346.67 06/15/2026 Coupon 26444HAJ0 100,000.00 DUKE ENERGY FLORIDA LLC 1.75 06/15/2030 875.00 875.00 06/15/2026 Coupon 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 7,107.08 7,107.08 06/15/2026 Coupon 437076BY7 1,700,000.00 HOME DEPOT INC 2.95 06/15/2029 25,075.00 25,075.00 06/15/2026 Coupon 437921AD1 1,170,000.00 HAROT 252 A3 4.15 10/15/2029 4,046.25 4,046.25 06/15/2026 Coupon 44934FAD7 413,705.38 HALST 2024-B A3 5.41 05/17/2027 1,306.85 1,306.85 06/15/2026 Principal Paydown 44934FAD7 413,705.38 HALST 2024-B A3 5.41 05/17/2027 120,488.86 120,488.86 06/15/2026 Coupon 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 6,930.00 6,930.00 06/15/2026 Coupon 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 4,454.50 4,454.50 06/15/2026 Coupon 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 603.75 603.75 06/15/2026 Coupon 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 6,158.25 6,158.25 06/15/2026 Coupon 46647PDF0 100,000.00 JPMORGAN CHASE & CO 4.565 06/14/2030 2,282.50 2,282.50 06/15/2026 Coupon 47800BAC2 80,105.27 JDOT 2022-C A3 5.09 06/15/2027 185.41 185.41 06/15/2026 Principal Paydown 47800BAC2 80,105.27 JDOT 2022-C A3 5.09 06/15/2027 29,758.30 29,758.30 06/15/2026 Coupon 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 1,780.15 1,780.15 06/15/2026 Principal Paydown 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 69,977.51 69,977.51 06/15/2026 Coupon 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 5,375.63 5,375.63 06/15/2026 Coupon 58768YAD7 150,000.00 MBALT 2025-A A3 4.61 04/16/2029 576.25 576.25 06/15/2026 Coupon 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 1,884.86 1,884.86 06/15/2026 Principal Paydown 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 62,489.35 62,489.35 06/15/2026 Coupon 74340XCG4 2,630,000.00 PROLOGIS LP 4.875 06/15/2028 64,106.25 64,106.25 165 of 11211
CONFIDENTIAL | 62
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/15/2026 Coupon 89231HAD8 150,000.00 TAOT 2025-B A3 4.34 11/15/2029 542.50 542.50 06/15/2026 Coupon 89231HAD8 1,145,000.00 TAOT 2025-B A3 4.34 11/15/2029 4,141.08 4,141.08 06/15/2026 Coupon 92970QAE5 3,525,000.00 WFCIT 2024-2 A 4.29 10/15/2029 12,601.88 12,601.88 06/15/2026 Coupon 92970QAJ4 150,000.00 WFCIT 2025-1 A 4.34 05/15/2030 542.50 542.50 06/16/2026 Coupon 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 535.00 535.00 06/16/2026 Coupon 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,774.00 4,774.00 06/18/2026 Coupon 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 2,358.58 2,358.58 06/18/2026 Principal Paydown 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 38,438.55 38,438.55 06/22/2026 Coupon 17305EHA6 1,600,000.00 CCCIT 2025-A1 A1 4.3 06/21/2030 34,400.00 34,400.00 06/22/2026 Coupon 3133ENHV5 5,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP
1.39 06/22/2026 34,750.00 34,750.00
06/22/2026 Final Maturity 3133ENHV5 5,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP
1.39 06/22/2026 5,000,000.00 5,000,000.00
06/22/2026 Coupon 36269WAD1 1,482,770.06 GMALT 2024-2 A3 5.39 07/20/2027 3,117.11 3,117.11 06/22/2026 Principal Paydown 36269WAD1 1,482,770.06 GMALT 2024-2 A3 5.39 07/20/2027 352,552.79 352,552.79 06/22/2026 Coupon 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 6,583.75 6,583.75 06/22/2026 Coupon 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 5,952.70 5,952.70 06/22/2026 Principal Paydown 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 100,269.69 100,269.69 06/25/2026 Coupon 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 3,154.76 3,154.76 06/25/2026 Principal Paydown 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 47,437.30 47,437.30 06/25/2026 Coupon 3137BSP72 410,000.00 FHMS K-058 A2 2.653 08/25/2026 906.44 906.44 06/25/2026 Coupon 3137F9Z79 150,000.00 FHMS K-125 A2 1.846 01/25/2031 230.75 230.75 06/25/2026 Coupon 3137FG6X8 3,250,000.00 FHMS K-077 A2 3.85 05/25/2028 10,427.08 10,427.08 06/25/2026 Coupon 3137FHPJ6 1,895,000.00 FHMS K-080 A2 3.926 07/25/2028 6,199.81 6,199.81 06/25/2026 Coupon 3137FJEH8 6,400,000.00 FHMS K-081 A2 3.9 08/25/2028 20,800.00 20,800.00 06/25/2026 Coupon 3137FK4M5 1,890,000.00 FHMS K-085 A2 4.06 10/25/2028 6,394.50 6,394.50 06/25/2026 Coupon 3137FKSH0 200,000.00 FHMS K-086 A2 3.859 11/25/2028 643.17 643.17 06/25/2026 Coupon 3137FKSH0 1,800,000.00 FHMS K-086 A2 3.859 11/25/2028 5,788.50 5,788.50 06/25/2026 Coupon 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 4,567.74 4,567.74 06/25/2026 Principal Paydown 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 1,660.38 1,660.38 06/25/2026 Coupon 3137FLMV3 100,000.00 FHMS K-090 A2 3.422 02/25/2029 285.17 285.17 06/25/2026 Coupon 3137FLN91 200,000.00 FHMS K-091 A2 3.505 03/25/2029 584.17 584.17 166 of 11211
CONFIDENTIAL | 63
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/25/2026 Coupon 3137FLN91 1,915,000.00 FHMS K-091 A2 3.505 03/25/2029 5,593.40 5,593.40 06/25/2026 Coupon 3137FLYV0 4,540,000.00 FHMS K-092 A2 3.298 04/25/2029 12,477.43 12,477.43 06/25/2026 Coupon 3137FNAE0 200,000.00 FHMS K-095 A2 2.785 06/25/2029 464.17 464.17 06/25/2026 Coupon 3137FQKC6 100,000.00 FHMS K-102 A2 2.537 10/25/2029 211.42 211.42 06/25/2026 Coupon 3137FREH0 1,950,000.00 FHMS K-104 A2 2.253 01/25/2030 3,661.13 3,661.13 06/25/2026 Coupon 3137FTZQ3 300,000.00 FHMS K-110 A2 1.477 04/25/2030 369.25 369.25 06/25/2026 Coupon 3137FTZQ3 3,400,000.00 FHMS K-110 A2 1.477 04/25/2030 4,184.83 4,184.83 06/25/2026 Coupon 3137FYUJ3 6,775,000.00 FHMS K-128 A2 2.02 03/25/2031 11,404.58 11,404.58 06/25/2026 Coupon 3137H5YC5 2,500,000.00 FHMS K-748 A2 2.26 01/25/2029 4,708.33 4,708.33 06/25/2026 Coupon 3137H74P5 1,415,000.00 FHMS K-749 A2 2.12 03/26/2029 2,499.83 2,499.83 06/25/2026 Coupon 3137H9D71 5,000,000.00 FHMS K-750 A2 3.0 09/25/2029 12,500.00 12,500.00 06/25/2026 Coupon 3137HA4B9 1,887,000.00 FHMS K-751 A2 4.412 03/25/2030 6,937.87 6,937.87 06/25/2026 Coupon 3137HH5X5 5,000,000.00 FHMS K757 A2 4.456 08/25/2031 18,566.67 18,566.67 06/25/2026 Coupon 3137HQDH1 4,750,000.00 FHMS K-764 A2 4.12 12/25/2032 16,308.33 16,308.33 06/25/2026 Coupon 437076DC3 1,700,000.00 HOME DEPOT INC 4.75 06/25/2029 40,375.00 40,375.00 06/30/2026 Coupon 91282CGB1 250,000.00 UNITED STATES TREASURY 3.875 12/31/2029 4,843.75 4,843.75 06/30/2026 Coupon 91282CGC9 3,800,000.00 UNITED STATES TREASURY 3.875 12/31/2027 73,625.00 73,625.00 06/30/2026 Coupon 91282CJR3 3,750,000.00 UNITED STATES TREASURY 3.75 12/31/2028 70,312.50 70,312.50 06/30/2026 Coupon 91282CKX8 2,250,000.00 UNITED STATES TREASURY 4.25 06/30/2029 47,812.50 47,812.50 06/30/2026 Coupon 91282CNK3 5,000,000.00 UNITED STATES TREASURY 3.875 06/30/2030 96,875.00 96,875.00 06/30/2026 Coupon 91282CNL1 250,000.00 UNITED STATES TREASURY 3.75 06/30/2027 4,687.50 4,687.50 June 2026 Total 5,823,072.73 1,558,914.86 7,381,987.59
JULY 2026
07/01/2026 Coupon 74464AAC5 100,000.00 PUBLIC STORAGE OPERATING CO 4.375 07/01/2030 2,187.50 2,187.50
07/08/2026 Coupon 59217GFR5 1,500,000.00 METROPOLITAN LIFE GLOBAL FUNDING I 4.85 01/08/2029 36,375.00 36,375.00
07/09/2026 Coupon 59217GFT1 2,490,000.00 METROPOLITAN LIFE GLOBAL FUNDING I 4.9 01/09/2030 61,005.00 61,005.00
07/09/2026 Coupon 64952WFR9 2,190,000.00 NEW YORK LIFE GLOBAL FUNDING 4.25 01/09/2031 46,537.50 46,537.50
07/10/2026 Coupon 66815L2Q1 2,000,000.00 NORTHWESTERN MUTUAL GLOBAL FUNDING
4.71 01/10/2029 47,100.00 47,100.00
167 of 11211
CONFIDENTIAL | 64
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/13/2026 Coupon 66815L2Z1 2,715,000.00 NORTHWESTERN MUTUAL GLOBAL FUNDING
4.3 01/13/2031 58,372.50 58,372.50
07/13/2026 Coupon 78016FZW7 1,870,000.00 ROYAL BANK OF CANADA 4.9 01/12/2028 45,815.00 45,815.00 07/13/2026 Coupon 89236TKQ7 2,330,000.00 TOYOTA MOTOR CREDIT CORP 4.625 01/12/2028 53,881.25 53,881.25
07/15/2026 Coupon 02582JKH2 1,760,000.00 AMXCA 2024-1 A 5.23 04/16/2029 7,670.67 7,670.67 07/15/2026 Coupon 02582JKP4 3,075,000.00 AMXCA 2025-2 A 4.28 04/15/2030 10,967.50 10,967.50 07/15/2026 Coupon 02589BAE0 2,000,000.00 AMXCA 2024-3 A 4.65 07/15/2027 7,750.00 7,750.00 07/15/2026 Coupon 05522RDJ4 1,125,000.00 BACCT 2024-1 A 4.93 05/15/2029 4,621.88 4,621.88 07/15/2026 Coupon 05522RDK1 112,000.00 BACCT 2025-1 A 4.31 05/15/2030 402.27 402.27 07/15/2026 Coupon 161571HT4 2,345,000.00 CHAIT 2023-1 A 5.16 09/15/2028 10,083.50 10,083.50 07/15/2026 Coupon 161571HV9 3,000,000.00 CHAIT 241 A 4.6 01/16/2029 11,500.00 11,500.00 07/15/2026 Coupon 161571HZ0 100,000.00 CHAIT 2025-1 A 4.16 07/15/2030 346.67 346.67 07/15/2026 Coupon 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 7,107.08 7,107.08 07/15/2026 Coupon 437921AD1 1,170,000.00 HAROT 252 A3 4.15 10/15/2029 4,046.25 4,046.25 07/15/2026 Coupon 44934FAD7 413,705.38 HALST 2024-B A3 5.41 05/17/2027 763.65 763.65 07/15/2026 Principal Paydown 44934FAD7 413,705.38 HALST 2024-B A3 5.41 05/17/2027 115,528.00 115,528.00 07/15/2026 Coupon 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 6,930.00 6,930.00 07/15/2026 Coupon 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 4,454.50 4,454.50 07/15/2026 Coupon 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 603.75 603.75 07/15/2026 Coupon 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 6,158.25 6,158.25 07/15/2026 Principal Paydown 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 4,513.91 4,513.91 07/15/2026 Principal Paydown 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 46,041.85 46,041.85 07/15/2026 Coupon 47800BAC2 80,105.27 JDOT 2022-C A3 5.09 06/15/2027 59.18 59.18 07/15/2026 Effective Maturity 47800BAC2 80,105.27 JDOT 2022-C A3 5.09 06/15/2027 13,952.36 13,952.36 07/15/2026 Coupon 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 1,487.99 1,487.99 07/15/2026 Principal Paydown 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 72,505.45 72,505.45 07/15/2026 Coupon 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 5,375.63 5,375.63 07/15/2026 Coupon 58768YAD7 150,000.00 MBALT 2025-A A3 4.61 04/16/2029 576.25 576.25 07/15/2026 Coupon 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 1,607.82 1,607.82 07/15/2026 Principal Paydown 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 57,285.45 57,285.45 07/15/2026 Coupon 756109AU8 1,740,000.00 REALTY INCOME CORP 3.65 01/15/2028 31,755.00 31,755.00 168 of 11211
CONFIDENTIAL | 65
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/15/2026 Coupon 756109CB8 100,000.00 REALTY INCOME CORP 4.0 07/15/2029 2,000.00 2,000.00 07/15/2026 Coupon 828807DK0 100,000.00 SIMON PROPERTY GROUP LP 2.65 07/15/2030 1,325.00 1,325.00 07/15/2026 Coupon 828807DK0 4,000,000.00 SIMON PROPERTY GROUP LP 2.65 07/15/2030 53,000.00 53,000.00 07/15/2026 Coupon 87612EBM7 425,000.00 TARGET CORP 1.95 01/15/2027 4,143.75 4,143.75 07/15/2026 Coupon 89231HAD8 150,000.00 TAOT 2025-B A3 4.34 11/15/2029 542.50 542.50 07/15/2026 Coupon 89231HAD8 1,145,000.00 TAOT 2025-B A3 4.34 11/15/2029 4,141.08 4,141.08 07/15/2026 Coupon 91282CKZ3 4,000,000.00 UNITED STATES TREASURY 4.375 07/15/2027 87,500.00 87,500.00 07/15/2026 Coupon 91282CMF5 250,000.00 UNITED STATES TREASURY 4.25 01/15/2028 5,312.50 5,312.50 07/15/2026 Coupon 92970QAE5 3,525,000.00 WFCIT 2024-2 A 4.29 10/15/2029 12,601.88 12,601.88 07/15/2026 Coupon 92970QAJ4 150,000.00 WFCIT 2025-1 A 4.34 05/15/2030 542.50 542.50 07/16/2026 Coupon 24422EXH7 1,000,000.00 JOHN DEERE CAPITAL CORP 4.5 01/16/2029 22,500.00 22,500.00 07/16/2026 Coupon 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 535.00 535.00 07/16/2026 Coupon 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,774.00 4,774.00 07/16/2026 Coupon 61747YFK6 3,000,000.00 MORGAN STANLEY 5.173 01/16/2030 77,595.00 77,595.00 07/17/2026 Coupon 713448FX1 2,035,000.00 PEPSICO INC 4.5 07/17/2029 45,787.50 45,787.50 07/20/2026 Coupon 025816EJ4 100,000.00 AMERICAN EXPRESS CO 4.351 07/20/2029 2,175.50 2,175.50 07/20/2026 Coupon 24422EWR6 1,000,000.00 JOHN DEERE CAPITAL CORP 4.75 01/20/2028 23,750.00 23,750.00 07/20/2026 Coupon 36269WAD1 1,482,770.06 GMALT 2024-2 A3 5.39 07/20/2027 1,533.56 1,533.56 07/20/2026 Principal Paydown 36269WAD1 1,482,770.06 GMALT 2024-2 A3 5.39 07/20/2027 328,315.30 328,315.30 07/20/2026 Coupon 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 6,583.75 6,583.75 07/20/2026 Coupon 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 2,189.77 2,189.77 07/20/2026 Principal Paydown 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 37,597.65 37,597.65 07/21/2026 Coupon 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 5,570.84 5,570.84 07/21/2026 Principal Paydown 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 98,162.18 98,162.18 07/23/2026 Coupon 06051GHV4 100,000.00 BANK OF AMERICA CORP 3.194 07/23/2030 1,597.00 1,597.00 07/23/2026 Coupon 46647PAV8 3,000,000.00 JPMORGAN CHASE & CO 4.203 07/23/2029 63,045.00 63,045.00 07/23/2026 Coupon 46647PEA0 2,000,000.00 JPMORGAN CHASE & CO 5.04 01/23/2028 50,400.00 50,400.00 07/23/2026 Coupon 6174468G7 100,000.00 MORGAN STANLEY 4.431 01/23/2030 2,215.50 2,215.50 07/27/2026 Coupon 06406RBK2 100,000.00 BANK OF NEW YORK MELLON CORP 4.596 07/26/2030 2,298.00 2,298.00
07/27/2026 Coupon 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 2,949.98 2,949.98 07/27/2026 Principal Paydown 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 46,640.32 46,640.32 169 of 11211
CONFIDENTIAL | 66
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/27/2026 Coupon 3137BSP72 410,000.00 FHMS K-058 A2 2.653 08/25/2026 906.44 906.44 07/27/2026 Principal Paydown 3137BSP72 410,000.00 FHMS K-058 A2 2.653 08/25/2026 200,482.06 200,482.06 07/27/2026 Coupon 3137F9Z79 150,000.00 FHMS K-125 A2 1.846 01/25/2031 230.75 230.75 07/27/2026 Coupon 3137FG6X8 3,250,000.00 FHMS K-077 A2 3.85 05/25/2028 10,427.08 10,427.08 07/27/2026 Coupon 3137FHPJ6 1,895,000.00 FHMS K-080 A2 3.926 07/25/2028 6,199.81 6,199.81 07/27/2026 Coupon 3137FJEH8 6,400,000.00 FHMS K-081 A2 3.9 08/25/2028 20,800.00 20,800.00 07/27/2026 Coupon 3137FK4M5 1,890,000.00 FHMS K-085 A2 4.06 10/25/2028 6,394.50 6,394.50 07/27/2026 Coupon 3137FKSH0 200,000.00 FHMS K-086 A2 3.859 11/25/2028 643.17 643.17 07/27/2026 Coupon 3137FKSH0 1,800,000.00 FHMS K-086 A2 3.859 11/25/2028 5,788.50 5,788.50 07/27/2026 Coupon 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 4,562.52 4,562.52 07/27/2026 Principal Paydown 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 1,813.31 1,813.31 07/27/2026 Coupon 3137FLMV3 100,000.00 FHMS K-090 A2 3.422 02/25/2029 285.17 285.17 07/27/2026 Coupon 3137FLN91 200,000.00 FHMS K-091 A2 3.505 03/25/2029 584.17 584.17 07/27/2026 Coupon 3137FLN91 1,915,000.00 FHMS K-091 A2 3.505 03/25/2029 5,593.40 5,593.40 07/27/2026 Coupon 3137FLYV0 4,540,000.00 FHMS K-092 A2 3.298 04/25/2029 12,477.43 12,477.43 07/27/2026 Coupon 3137FNAE0 200,000.00 FHMS K-095 A2 2.785 06/25/2029 464.17 464.17 07/27/2026 Coupon 3137FQKC6 100,000.00 FHMS K-102 A2 2.537 10/25/2029 211.42 211.42 07/27/2026 Coupon 3137FREH0 1,950,000.00 FHMS K-104 A2 2.253 01/25/2030 3,661.13 3,661.13 07/27/2026 Coupon 3137FTZQ3 300,000.00 FHMS K-110 A2 1.477 04/25/2030 369.25 369.25 07/27/2026 Coupon 3137FTZQ3 3,400,000.00 FHMS K-110 A2 1.477 04/25/2030 4,184.83 4,184.83 07/27/2026 Coupon 3137FYUJ3 6,775,000.00 FHMS K-128 A2 2.02 03/25/2031 11,404.58 11,404.58 07/27/2026 Coupon 3137H5YC5 2,500,000.00 FHMS K-748 A2 2.26 01/25/2029 4,708.33 4,708.33 07/27/2026 Coupon 3137H74P5 1,415,000.00 FHMS K-749 A2 2.12 03/26/2029 2,499.83 2,499.83 07/27/2026 Coupon 3137H9D71 5,000,000.00 FHMS K-750 A2 3.0 09/25/2029 12,500.00 12,500.00 07/27/2026 Coupon 3137HA4B9 1,887,000.00 FHMS K-751 A2 4.412 03/25/2030 6,937.87 6,937.87 07/27/2026 Coupon 3137HH5X5 5,000,000.00 FHMS K757 A2 4.456 08/25/2031 18,566.67 18,566.67 07/27/2026 Coupon 3137HQDH1 4,750,000.00 FHMS K-764 A2 4.12 12/25/2032 16,308.33 16,308.33 07/31/2026 Coupon 91282CCP4 375,000.00 UNITED STATES TREASURY 0.625 07/31/2026 1,171.88 1,171.88 07/31/2026 Final Maturity 91282CCP4 375,000.00 UNITED STATES TREASURY 0.625 07/31/2026 375,000.00 375,000.00 07/31/2026 Coupon 91282CGH8 5,000,000.00 UNITED STATES TREASURY 3.5 01/31/2028 87,500.00 87,500.00 07/31/2026 Coupon 91282CHQ7 5,000,000.00 UNITED STATES TREASURY 4.125 07/31/2028 103,125.00 103,125.00 07/31/2026 Coupon 91282CHR5 250,000.00 UNITED STATES TREASURY 4.0 07/31/2030 5,000.00 5,000.00 170 of 11211
CONFIDENTIAL | 67
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/31/2026 Coupon 91282CJW2 5,500,000.00 UNITED STATES TREASURY 4.0 01/31/2029 110,000.00 110,000.00 07/31/2026 Coupon 91282CLB5 4,000,000.00 UNITED STATES TREASURY 4.375 07/31/2026 87,500.00 87,500.00 07/31/2026 Final Maturity 91282CLB5 4,000,000.00 UNITED STATES TREASURY 4.375 07/31/2026 4,000,000.00 4,000,000.00 07/31/2026 Coupon 91282CLC3 4,000,000.00 UNITED STATES TREASURY 4.0 07/31/2029 80,000.00 80,000.00 July 2026 Total 5,397,837.83 1,593,157.41 6,990,995.24
AUGUST 2026
08/03/2026 Coupon 13063EGT7 2,880,000.00 CALIFORNIA STATE 4.5 08/01/2029 64,800.00 64,800.00 08/03/2026 Coupon 6944PL3M9 75,000.00 PACIFIC LIFE GLOBAL FUNDING II 4.375 02/03/2031 1,640.63 1,640.63
08/03/2026 Coupon 6944PL3M9 2,000,000.00 PACIFIC LIFE GLOBAL FUNDING II 4.375 02/03/2031 43,750.00 43,750.00
08/03/2026 Coupon 78016HZV5 1,200,000.00 ROYAL BANK OF CANADA 4.95 02/01/2029 29,700.00 29,700.00 08/07/2026 Coupon 63743HFX5 1,500,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.95 02/07/2030 37,125.00 37,125.00
08/07/2026 Coupon 713448GA0 100,000.00 PEPSICO INC 4.45 02/07/2028 2,225.00 2,225.00 08/10/2026 Coupon 89236TMK8 2,000,000.00 TOYOTA MOTOR CREDIT CORP 4.55 08/09/2029 45,500.00 45,500.00 08/12/2026 Coupon 92826CAZ5 2,690,000.00 VISA INC 4.1 02/12/2031 55,145.00 55,145.00 08/14/2026 Coupon 532457CQ9 1,925,000.00 ELI LILLY AND CO 4.2 08/14/2029 40,425.00 40,425.00 08/17/2026 Coupon 02582JKH2 1,760,000.00 AMXCA 2024-1 A 5.23 04/16/2029 7,670.67 7,670.67 08/17/2026 Coupon 02582JKP4 3,075,000.00 AMXCA 2025-2 A 4.28 04/15/2030 10,967.50 10,967.50 08/17/2026 Coupon 02589BAE0 2,000,000.00 AMXCA 2024-3 A 4.65 07/15/2027 7,750.00 7,750.00 08/17/2026 Coupon 05522RDJ4 1,125,000.00 BACCT 2024-1 A 4.93 05/15/2029 4,621.88 4,621.88 08/17/2026 Coupon 05522RDK1 112,000.00 BACCT 2025-1 A 4.31 05/15/2030 402.27 402.27 08/17/2026 Coupon 14913UBB5 100,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.1 08/15/2028 2,050.00 2,050.00
08/17/2026 Coupon 161571HT4 2,345,000.00 CHAIT 2023-1 A 5.16 09/15/2028 10,083.50 10,083.50 08/17/2026 Coupon 161571HV9 3,000,000.00 CHAIT 241 A 4.6 01/16/2029 11,500.00 11,500.00 08/17/2026 Coupon 161571HZ0 100,000.00 CHAIT 2025-1 A 4.16 07/15/2030 346.67 346.67 08/17/2026 Coupon 171239AL0 1,441,000.00 CHUBB INA HOLDINGS LLC 4.65 08/15/2029 33,503.25 33,503.25 08/17/2026 Coupon 30303M8S4 1,520,000.00 META PLATFORMS INC 4.3 08/15/2029 32,680.00 32,680.00 08/17/2026 Coupon 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 7,107.08 7,107.08 08/17/2026 Principal Paydown 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 4,808.46 4,808.46 171 of 11211
CONFIDENTIAL | 68
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/17/2026 Coupon 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 535.00 535.00 08/17/2026 Coupon 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,774.00 4,774.00 08/17/2026 Principal Paydown 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 42,875.84 42,875.84 08/17/2026 Coupon 437921AD1 1,170,000.00 HAROT 252 A3 4.15 10/15/2029 4,046.25 4,046.25 08/17/2026 Coupon 44934FAD7 413,705.38 HALST 2024-B A3 5.41 05/17/2027 242.81 242.81 08/17/2026 Effective Maturity 44934FAD7 413,705.38 HALST 2024-B A3 5.41 05/17/2027 53,857.30 53,857.30 08/17/2026 Coupon 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 6,930.00 6,930.00 08/17/2026 Coupon 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 4,454.50 4,454.50 08/17/2026 Coupon 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 585.58 585.58 08/17/2026 Coupon 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 5,972.93 5,972.93 08/17/2026 Principal Paydown 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 15,674.94 15,674.94 08/17/2026 Principal Paydown 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 159,884.38 159,884.38 08/17/2026 Coupon 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 1,185.28 1,185.28 08/17/2026 Principal Paydown 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 67,392.86 67,392.86 08/17/2026 Coupon 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 5,375.63 5,375.63 08/17/2026 Coupon 58768YAD7 150,000.00 MBALT 2025-A A3 4.61 04/16/2029 576.25 576.25 08/17/2026 Coupon 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 1,353.85 1,353.85 08/17/2026 Principal Paydown 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 57,477.92 57,477.92 08/17/2026 Coupon 89231HAD8 150,000.00 TAOT 2025-B A3 4.34 11/15/2029 542.50 542.50 08/17/2026 Coupon 89231HAD8 1,145,000.00 TAOT 2025-B A3 4.34 11/15/2029 4,141.08 4,141.08 08/17/2026 Coupon 9128286B1 250,000.00 UNITED STATES TREASURY 2.625 02/15/2029 3,281.25 3,281.25 08/17/2026 Coupon 91282CLG4 250,000.00 UNITED STATES TREASURY 3.75 08/15/2027 4,687.50 4,687.50 08/17/2026 Coupon 92970QAE5 3,525,000.00 WFCIT 2024-2 A 4.29 10/15/2029 12,601.88 12,601.88 08/17/2026 Coupon 92970QAJ4 150,000.00 WFCIT 2025-1 A 4.34 05/15/2030 542.50 542.50 08/18/2026 Coupon 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 2,024.66 2,024.66 08/18/2026 Principal Paydown 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 36,574.80 36,574.80 08/20/2026 Coupon 36269WAD1 1,482,770.06 GMALT 2024-2 A3 5.39 07/20/2027 58.88 58.88 08/20/2026 Effective Maturity 36269WAD1 1,482,770.06 GMALT 2024-2 A3 5.39 07/20/2027 13,109.17 13,109.17 08/20/2026 Coupon 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 6,583.75 6,583.75 08/21/2026 Coupon 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 5,197.01 5,197.01 08/21/2026 Principal Paydown 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 95,318.35 95,318.35 08/25/2026 Coupon 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 2,748.65 2,748.65 172 of 11211
CONFIDENTIAL | 69
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/25/2026 Principal Paydown 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 45,432.59 45,432.59 08/25/2026 Coupon 3137BSP72 410,000.00 FHMS K-058 A2 2.653 08/25/2026 463.21 463.21 08/25/2026 Final Maturity 3137BSP72 410,000.00 FHMS K-058 A2 2.653 08/25/2026 209,517.94 209,517.94 08/25/2026 Coupon 3137F9Z79 150,000.00 FHMS K-125 A2 1.846 01/25/2031 230.75 230.75 08/25/2026 Coupon 3137FG6X8 3,250,000.00 FHMS K-077 A2 3.85 05/25/2028 10,427.08 10,427.08 08/25/2026 Coupon 3137FHPJ6 1,895,000.00 FHMS K-080 A2 3.926 07/25/2028 6,199.81 6,199.81 08/25/2026 Coupon 3137FJEH8 6,400,000.00 FHMS K-081 A2 3.9 08/25/2028 20,800.00 20,800.00 08/25/2026 Coupon 3137FK4M5 1,890,000.00 FHMS K-085 A2 4.06 10/25/2028 6,394.50 6,394.50 08/25/2026 Coupon 3137FKSH0 200,000.00 FHMS K-086 A2 3.859 11/25/2028 643.17 643.17 08/25/2026 Coupon 3137FKSH0 1,800,000.00 FHMS K-086 A2 3.859 11/25/2028 5,788.50 5,788.50 08/25/2026 Coupon 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 4,556.82 4,556.82 08/25/2026 Principal Paydown 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 1,673.49 1,673.49 08/25/2026 Coupon 3137FLMV3 100,000.00 FHMS K-090 A2 3.422 02/25/2029 285.17 285.17 08/25/2026 Coupon 3137FLN91 200,000.00 FHMS K-091 A2 3.505 03/25/2029 584.17 584.17 08/25/2026 Coupon 3137FLN91 1,915,000.00 FHMS K-091 A2 3.505 03/25/2029 5,593.40 5,593.40 08/25/2026 Coupon 3137FLYV0 4,540,000.00 FHMS K-092 A2 3.298 04/25/2029 12,477.43 12,477.43 08/25/2026 Coupon 3137FNAE0 200,000.00 FHMS K-095 A2 2.785 06/25/2029 464.17 464.17 08/25/2026 Coupon 3137FQKC6 100,000.00 FHMS K-102 A2 2.537 10/25/2029 211.42 211.42 08/25/2026 Coupon 3137FREH0 1,950,000.00 FHMS K-104 A2 2.253 01/25/2030 3,661.13 3,661.13 08/25/2026 Coupon 3137FTZQ3 300,000.00 FHMS K-110 A2 1.477 04/25/2030 369.25 369.25 08/25/2026 Coupon 3137FTZQ3 3,400,000.00 FHMS K-110 A2 1.477 04/25/2030 4,184.83 4,184.83 08/25/2026 Coupon 3137FYUJ3 6,775,000.00 FHMS K-128 A2 2.02 03/25/2031 11,404.58 11,404.58 08/25/2026 Coupon 3137H5YC5 2,500,000.00 FHMS K-748 A2 2.26 01/25/2029 4,708.33 4,708.33 08/25/2026 Coupon 3137H74P5 1,415,000.00 FHMS K-749 A2 2.12 03/26/2029 2,499.83 2,499.83 08/25/2026 Coupon 3137H9D71 5,000,000.00 FHMS K-750 A2 3.0 09/25/2029 12,500.00 12,500.00 08/25/2026 Coupon 3137HA4B9 1,887,000.00 FHMS K-751 A2 4.412 03/25/2030 6,937.87 6,937.87 08/25/2026 Coupon 3137HH5X5 5,000,000.00 FHMS K757 A2 4.456 08/25/2031 18,566.67 18,566.67 08/25/2026 Coupon 3137HQDH1 4,750,000.00 FHMS K-764 A2 4.12 12/25/2032 16,308.33 16,308.33 08/26/2026 Coupon 17275RBR2 1,190,000.00 CISCO SYSTEMS INC 4.85 02/26/2029 28,857.50 28,857.50 08/27/2026 Coupon 14913UAJ9 1,500,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.85 02/27/2029 36,375.00 36,375.00
08/31/2026 Coupon 91282CFJ5 250,000.00 UNITED STATES TREASURY 3.125 08/31/2029 3,906.25 3,906.25 173 of 11211
CONFIDENTIAL | 70
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/31/2026 Coupon 91282CGP0 3,750,000.00 UNITED STATES TREASURY 4.0 02/29/2028 75,000.00 75,000.00 08/31/2026 Coupon 91282CGQ8 250,000.00 UNITED STATES TREASURY 4.0 02/28/2030 5,000.00 5,000.00 08/31/2026 Coupon 91282CGQ8 5,000,000.00 UNITED STATES TREASURY 4.0 02/28/2030 100,000.00 100,000.00 08/31/2026 Coupon 91282CHX2 250,000.00 UNITED STATES TREASURY 4.375 08/31/2028 5,468.75 5,468.75 08/31/2026 Coupon 91282CLK5 11,000,000.00 UNITED STATES TREASURY 3.625 08/31/2029 199,375.00 199,375.00 08/31/2026 Coupon 91282CMP3 250,000.00 UNITED STATES TREASURY 4.125 02/28/2027 5,156.25 5,156.25 08/31/2026 Coupon 91282CNX5 250,000.00 UNITED STATES TREASURY 3.625 08/31/2030 4,531.25 4,531.25 08/31/2026 Coupon 91282CNX5 10,000,000.00 UNITED STATES TREASURY 3.625 08/31/2030 181,250.00 181,250.00 August 2026 Total 803,598.02 1,328,615.58 2,132,213.60
SEPTEMBER 2026
09/03/2026 Final Maturity 912797RS8 240,000.00 UNITED STATES TREASURY 09/03/2026 240,000.00 240,000.00 09/08/2026 Coupon 02665WFY2 2,000,000.00 AMERICAN HONDA FINANCE CORP 4.8 03/05/2030 48,000.00 48,000.00
09/08/2026 Coupon 89236TNR2 100,000.00 TOYOTA MOTOR CREDIT CORP 4.05 09/05/2028 2,025.00 2,025.00 09/11/2026 Coupon 037833DN7 750,000.00 APPLE INC 2.05 09/11/2026 7,687.50 7,687.50 09/11/2026 Final Maturity 037833DN7 750,000.00 APPLE INC 2.05 09/11/2026 750,000.00 750,000.00 09/15/2026 Coupon 00287YDZ9 100,000.00 ABBVIE INC 4.875 03/15/2030 2,437.50 2,437.50 09/15/2026 Coupon 02582JKH2 1,760,000.00 AMXCA 2024-1 A 5.23 04/16/2029 7,670.67 7,670.67 09/15/2026 Coupon 02582JKP4 3,075,000.00 AMXCA 2025-2 A 4.28 04/15/2030 10,967.50 10,967.50 09/15/2026 Coupon 02589BAE0 2,000,000.00 AMXCA 2024-3 A 4.65 07/15/2027 7,750.00 7,750.00 09/15/2026 Coupon 05522RDJ4 1,125,000.00 BACCT 2024-1 A 4.93 05/15/2029 4,621.88 4,621.88 09/15/2026 Coupon 05522RDK1 112,000.00 BACCT 2025-1 A 4.31 05/15/2030 402.27 402.27 09/15/2026 Coupon 06368FAC3 750,000.00 BANK OF MONTREAL 1.25 09/15/2026 4,687.50 4,687.50 09/15/2026 Final Maturity 06368FAC3 750,000.00 BANK OF MONTREAL 1.25 09/15/2026 750,000.00 750,000.00 09/15/2026 Coupon 12572QAL9 100,000.00 CME GROUP INC 4.4 03/15/2030 2,200.00 2,200.00 09/15/2026 Coupon 161571HT4 2,345,000.00 CHAIT 2023-1 A 5.16 09/15/2028 10,083.50 10,083.50 09/15/2026 Effective Maturity 161571HT4 2,345,000.00 CHAIT 2023-1 A 5.16 09/15/2028 2,345,000.00 2,345,000.00 09/15/2026 Coupon 161571HV9 3,000,000.00 CHAIT 241 A 4.6 01/16/2029 11,500.00 11,500.00 09/15/2026 Coupon 161571HZ0 100,000.00 CHAIT 2025-1 A 4.16 07/15/2030 346.67 346.67 09/15/2026 Coupon 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 7,088.61 7,088.61 09/15/2026 Principal Paydown 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 73,692.19 73,692.19 09/15/2026 Coupon 437076DJ8 75,000.00 HOME DEPOT INC 3.95 09/15/2030 1,481.25 1,481.25 174 of 11211
CONFIDENTIAL | 71
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/15/2026 Coupon 437076DJ8 3,000,000.00 HOME DEPOT INC 3.95 09/15/2030 59,250.00 59,250.00 09/15/2026 Coupon 437921AD1 1,170,000.00 HAROT 252 A3 4.15 10/15/2029 4,046.25 4,046.25 09/15/2026 Coupon 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 6,930.00 6,930.00 09/15/2026 Coupon 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 4,454.50 4,454.50 09/15/2026 Coupon 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 522.49 522.49 09/15/2026 Coupon 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 5,329.40 5,329.40 09/15/2026 Principal Paydown 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 17,568.98 17,568.98 09/15/2026 Principal Paydown 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 179,203.60 179,203.60 09/15/2026 Coupon 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 903.92 903.92 09/15/2026 Principal Paydown 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 65,203.82 65,203.82 09/15/2026 Coupon 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 5,375.63 5,375.63 09/15/2026 Coupon 58768YAD7 150,000.00 MBALT 2025-A A3 4.61 04/16/2029 576.25 576.25 09/15/2026 Coupon 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 1,099.04 1,099.04 09/15/2026 Principal Paydown 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 61,609.48 61,609.48 09/15/2026 Coupon 58933YBQ7 100,000.00 MERCK & CO INC 4.15 09/15/2030 2,075.00 2,075.00 09/15/2026 Coupon 637432NV3 100,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 2.4 03/15/2030 1,200.00 1,200.00
09/15/2026 Coupon 79466LAQ7 65,000.00 SALESFORCE INC 4.5 03/15/2028 1,478.75 1,478.75 09/15/2026 Coupon 79466LAQ7 2,710,000.00 SALESFORCE INC 4.5 03/15/2028 61,652.50 61,652.50 09/15/2026 Coupon 89231HAD8 150,000.00 TAOT 2025-B A3 4.34 11/15/2029 542.50 542.50 09/15/2026 Coupon 89231HAD8 1,145,000.00 TAOT 2025-B A3 4.34 11/15/2029 4,141.08 4,141.08 09/15/2026 Coupon 91282CKE0 250,000.00 UNITED STATES TREASURY 4.25 03/15/2027 5,312.50 5,312.50 09/15/2026 Coupon 91282CLL3 250,000.00 UNITED STATES TREASURY 3.375 09/15/2027 4,218.75 4,218.75 09/15/2026 Coupon 91282CMS7 250,000.00 UNITED STATES TREASURY 3.875 03/15/2028 4,843.75 4,843.75 09/15/2026 Coupon 91282CNY3 250,000.00 UNITED STATES TREASURY 3.375 09/15/2028 4,218.75 4,218.75 09/15/2026 Coupon 92970QAE5 3,525,000.00 WFCIT 2024-2 A 4.29 10/15/2029 12,601.88 12,601.88 09/15/2026 Coupon 92970QAJ4 150,000.00 WFCIT 2025-1 A 4.34 05/15/2030 542.50 542.50 09/15/2026 Coupon 95000U4A8 100,000.00 WELLS FARGO & CO 4.078 09/15/2029 2,039.00 2,039.00 09/16/2026 Coupon 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 535.00 535.00 09/16/2026 Coupon 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,608.93 4,608.93 09/16/2026 Principal Paydown 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 52,423.66 52,423.66 09/17/2026 Coupon 931142ER0 185,000.00 WALMART INC 1.05 09/17/2026 971.25 971.25 175 of 11211
CONFIDENTIAL | 72
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/17/2026 Final Maturity 931142ER0 185,000.00 WALMART INC 1.05 09/17/2026 185,000.00 185,000.00 09/18/2026 Coupon 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 1,864.03 1,864.03 09/18/2026 Principal Paydown 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 35,830.18 35,830.18 09/21/2026 Coupon 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 6,583.75 6,583.75 09/21/2026 Coupon 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 4,834.00 4,834.00 09/21/2026 Principal Paydown 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 93,286.61 93,286.61 09/25/2026 Coupon 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 2,552.54 2,552.54 09/25/2026 Principal Paydown 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 44,618.31 44,618.31 09/25/2026 Coupon 3137F9Z79 150,000.00 FHMS K-125 A2 1.846 01/25/2031 230.75 230.75 09/25/2026 Coupon 3137FG6X8 3,250,000.00 FHMS K-077 A2 3.85 05/25/2028 10,427.08 10,427.08 09/25/2026 Coupon 3137FHPJ6 1,895,000.00 FHMS K-080 A2 3.926 07/25/2028 6,199.81 6,199.81 09/25/2026 Coupon 3137FJEH8 6,400,000.00 FHMS K-081 A2 3.9 08/25/2028 20,800.00 20,800.00 09/25/2026 Coupon 3137FK4M5 1,890,000.00 FHMS K-085 A2 4.06 10/25/2028 6,394.50 6,394.50 09/25/2026 Coupon 3137FKSH0 200,000.00 FHMS K-086 A2 3.859 11/25/2028 643.17 643.17 09/25/2026 Coupon 3137FKSH0 1,800,000.00 FHMS K-086 A2 3.859 11/25/2028 5,788.50 5,788.50 09/25/2026 Coupon 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 4,551.56 4,551.56 09/25/2026 Principal Paydown 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 1,679.78 1,679.78 09/25/2026 Coupon 3137FLMV3 100,000.00 FHMS K-090 A2 3.422 02/25/2029 285.17 285.17 09/25/2026 Coupon 3137FLN91 200,000.00 FHMS K-091 A2 3.505 03/25/2029 584.17 584.17 09/25/2026 Coupon 3137FLN91 1,915,000.00 FHMS K-091 A2 3.505 03/25/2029 5,593.40 5,593.40 09/25/2026 Coupon 3137FLYV0 4,540,000.00 FHMS K-092 A2 3.298 04/25/2029 12,477.43 12,477.43 09/25/2026 Coupon 3137FNAE0 200,000.00 FHMS K-095 A2 2.785 06/25/2029 464.17 464.17 09/25/2026 Coupon 3137FQKC6 100,000.00 FHMS K-102 A2 2.537 10/25/2029 211.42 211.42 09/25/2026 Coupon 3137FREH0 1,950,000.00 FHMS K-104 A2 2.253 01/25/2030 3,661.13 3,661.13 09/25/2026 Coupon 3137FTZQ3 300,000.00 FHMS K-110 A2 1.477 04/25/2030 369.25 369.25 09/25/2026 Coupon 3137FTZQ3 3,400,000.00 FHMS K-110 A2 1.477 04/25/2030 4,184.83 4,184.83 09/25/2026 Coupon 3137FYUJ3 6,775,000.00 FHMS K-128 A2 2.02 03/25/2031 11,404.58 11,404.58 09/25/2026 Coupon 3137H5YC5 2,500,000.00 FHMS K-748 A2 2.26 01/25/2029 4,708.33 4,708.33 09/25/2026 Coupon 3137H74P5 1,415,000.00 FHMS K-749 A2 2.12 03/26/2029 2,499.83 2,499.83 09/25/2026 Coupon 3137H9D71 5,000,000.00 FHMS K-750 A2 3.0 09/25/2029 12,500.00 12,500.00 09/25/2026 Coupon 3137HA4B9 1,887,000.00 FHMS K-751 A2 4.412 03/25/2030 6,937.87 6,937.87 09/25/2026 Coupon 3137HH5X5 5,000,000.00 FHMS K757 A2 4.456 08/25/2031 18,566.67 18,566.67 176 of 11211
CONFIDENTIAL | 73
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/25/2026 Coupon 3137HQDH1 4,750,000.00 FHMS K-764 A2 4.12 12/25/2032 16,308.33 16,308.33 09/28/2026 Coupon 40139LBJ1 2,000,000.00 GUARDIAN LIFE GLOBAL FUNDING 4.179 09/26/2029 41,790.00 41,790.00
09/28/2026 Coupon 743315BC6 108,000.00 PROGRESSIVE CORP 4.6 03/26/2031 2,484.00 2,484.00 09/30/2026 Coupon 91282CCZ2 2,240,000.00 UNITED STATES TREASURY 0.875 09/30/2026 9,800.00 9,800.00 09/30/2026 Final Maturity 91282CCZ2 2,240,000.00 UNITED STATES TREASURY 0.875 09/30/2026 2,240,000.00 2,240,000.00 09/30/2026 Coupon 91282CEF4 5,000,000.00 UNITED STATES TREASURY 2.5 03/31/2027 62,500.00 62,500.00 09/30/2026 Coupon 91282CGS4 7,000,000.00 UNITED STATES TREASURY 3.625 03/31/2030 126,875.00 126,875.00 09/30/2026 Coupon 91282CKG5 5,000,000.00 UNITED STATES TREASURY 4.125 03/31/2029 103,125.00 103,125.00 09/30/2026 Coupon 91282CLN9 3,000,000.00 UNITED STATES TREASURY 3.5 09/30/2029 52,500.00 52,500.00 09/30/2026 Coupon 91282CPA3 7,500,000.00 UNITED STATES TREASURY 3.625 09/30/2030 135,937.50 135,937.50 09/30/2026 Coupon 91282CQG9 200,000.00 UNITED STATES TREASURY 3.875 03/31/2031 3,875.00 3,875.00 09/30/2026 Coupon 91282CQG9 5,000,000.00 UNITED STATES TREASURY 3.875 03/31/2031 96,875.00 96,875.00 September 2026
Total 7,135,116.63 1,135,807.20 8,270,923.83
OCTOBER 2026
10/02/2026 Coupon 40139LBH5 725,000.00 GUARDIAN LIFE GLOBAL FUNDING 5.737 10/02/2028 20,796.63 20,796.63
10/05/2026 Coupon 89115A2Y7 1,335,000.00 TORONTO-DOMINION BANK 4.994 04/05/2029 33,334.95 33,334.95 10/06/2026 Coupon 40139LBN2 100,000.00 GUARDIAN LIFE GLOBAL FUNDING 4.327 10/06/2030 2,163.50 2,163.50
10/15/2026 Coupon 02582JKH2 1,760,000.00 AMXCA 2024-1 A 5.23 04/16/2029 7,670.67 7,670.67 10/15/2026 Coupon 02582JKP4 3,075,000.00 AMXCA 2025-2 A 4.28 04/15/2030 10,967.50 10,967.50 10/15/2026 Coupon 02589BAE0 2,000,000.00 AMXCA 2024-3 A 4.65 07/15/2027 7,750.00 7,750.00 10/15/2026 Coupon 05522RDJ4 1,125,000.00 BACCT 2024-1 A 4.93 05/15/2029 4,621.88 4,621.88 10/15/2026 Coupon 05522RDK1 112,000.00 BACCT 2025-1 A 4.31 05/15/2030 402.27 402.27 10/15/2026 Coupon 161571HV9 3,000,000.00 CHAIT 241 A 4.6 01/16/2029 11,500.00 11,500.00 10/15/2026 Coupon 161571HZ0 100,000.00 CHAIT 2025-1 A 4.16 07/15/2030 346.67 346.67 10/15/2026 Coupon 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 6,805.51 6,805.51 10/15/2026 Principal Paydown 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 102,232.05 102,232.05 10/15/2026 Coupon 437921AD1 1,170,000.00 HAROT 252 A3 4.15 10/15/2029 4,046.25 4,046.25 10/15/2026 Coupon 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 6,930.00 6,930.00 177 of 11211
CONFIDENTIAL | 74
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/15/2026 Coupon 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 4,454.50 4,454.50 10/15/2026 Coupon 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 451.77 451.77 10/15/2026 Coupon 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 4,608.10 4,608.10 10/15/2026 Principal Paydown 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 19,656.67 19,656.67 10/15/2026 Principal Paydown 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 200,498.08 200,498.08 10/15/2026 Coupon 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 631.69 631.69 10/15/2026 Principal Paydown 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 79,478.97 79,478.97 10/15/2026 Coupon 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 5,375.63 5,375.63 10/15/2026 Coupon 532457DB1 100,000.00 ELI LILLY AND CO 4.0 10/15/2028 2,000.00 2,000.00 10/15/2026 Coupon 58768YAD7 150,000.00 MBALT 2025-A A3 4.61 04/16/2029 576.25 576.25 10/15/2026 Coupon 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 825.90 825.90 10/15/2026 Principal Paydown 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 64,311.08 64,311.08 10/15/2026 Coupon 89231HAD8 150,000.00 TAOT 2025-B A3 4.34 11/15/2029 542.50 542.50 10/15/2026 Coupon 89231HAD8 1,145,000.00 TAOT 2025-B A3 4.34 11/15/2029 4,141.08 4,141.08 10/15/2026 Coupon 92970QAE5 3,525,000.00 WFCIT 2024-2 A 4.29 10/15/2029 12,601.88 12,601.88 10/15/2026 Coupon 92970QAJ4 150,000.00 WFCIT 2025-1 A 4.34 05/15/2030 542.50 542.50 10/16/2026 Coupon 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 535.00 535.00 10/16/2026 Coupon 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,407.10 4,407.10 10/16/2026 Principal Paydown 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 65,074.70 65,074.70 10/16/2026 Coupon 459058LN1 3,250,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 62,968.75 62,968.75
10/19/2026 Coupon 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 1,706.68 1,706.68 10/19/2026 Principal Paydown 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 34,572.22 34,572.22 10/19/2026 Coupon 61748UAK8 2,950,000.00 MORGAN STANLEY 4.133 10/18/2029 60,961.75 60,961.75 10/20/2026 Coupon 06405LAH4 2,750,000.00 BANK OF NEW YORK MELLON 4.729 04/20/2029 65,023.75 65,023.75
10/20/2026 Coupon 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 6,583.75 6,583.75 10/20/2026 Principal Paydown 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 190,574.80 190,574.80 10/21/2026 Coupon 38141GD27 3,155,000.00 GOLDMAN SACHS GROUP INC 4.153 10/21/2029 65,513.58 65,513.58
10/21/2026 Coupon 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 4,478.74 4,478.74 10/21/2026 Principal Paydown 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 89,752.58 89,752.58 178 of 11211
CONFIDENTIAL | 75
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/23/2026 Coupon 141781CF9 2,200,000.00 CARGILL INC 4.125 10/23/2030 45,375.00 45,375.00 10/23/2026 Coupon 38141GWV2 100,000.00 GOLDMAN SACHS GROUP INC 3.814 04/23/2029 1,907.00 1,907.00
10/26/2026 Coupon 025816ED7 3,000,000.00 AMERICAN EXPRESS CO 4.731 04/25/2029 70,965.00 70,965.00 10/26/2026 Coupon 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 2,359.93 2,359.93 10/26/2026 Principal Paydown 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 40,843.60 40,843.60 10/26/2026 Coupon 3137F9Z79 150,000.00 FHMS K-125 A2 1.846 01/25/2031 230.75 230.75 10/26/2026 Coupon 3137FG6X8 3,250,000.00 FHMS K-077 A2 3.85 05/25/2028 10,427.08 10,427.08 10/26/2026 Coupon 3137FHPJ6 1,895,000.00 FHMS K-080 A2 3.926 07/25/2028 6,199.81 6,199.81 10/26/2026 Coupon 3137FJEH8 6,400,000.00 FHMS K-081 A2 3.9 08/25/2028 20,800.00 20,800.00 10/26/2026 Coupon 3137FK4M5 1,890,000.00 FHMS K-085 A2 4.06 10/25/2028 6,394.50 6,394.50 10/26/2026 Coupon 3137FKSH0 200,000.00 FHMS K-086 A2 3.859 11/25/2028 643.17 643.17 10/26/2026 Coupon 3137FKSH0 1,800,000.00 FHMS K-086 A2 3.859 11/25/2028 5,788.50 5,788.50 10/26/2026 Coupon 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 4,546.28 4,546.28 10/26/2026 Principal Paydown 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 1,832.00 1,832.00 10/26/2026 Coupon 3137FLMV3 100,000.00 FHMS K-090 A2 3.422 02/25/2029 285.17 285.17 10/26/2026 Coupon 3137FLN91 200,000.00 FHMS K-091 A2 3.505 03/25/2029 584.17 584.17 10/26/2026 Coupon 3137FLN91 1,915,000.00 FHMS K-091 A2 3.505 03/25/2029 5,593.40 5,593.40 10/26/2026 Coupon 3137FLYV0 4,540,000.00 FHMS K-092 A2 3.298 04/25/2029 12,477.43 12,477.43 10/26/2026 Coupon 3137FNAE0 200,000.00 FHMS K-095 A2 2.785 06/25/2029 464.17 464.17 10/26/2026 Coupon 3137FQKC6 100,000.00 FHMS K-102 A2 2.537 10/25/2029 211.42 211.42 10/26/2026 Coupon 3137FREH0 1,950,000.00 FHMS K-104 A2 2.253 01/25/2030 3,661.13 3,661.13 10/26/2026 Coupon 3137FTZQ3 300,000.00 FHMS K-110 A2 1.477 04/25/2030 369.25 369.25 10/26/2026 Coupon 3137FTZQ3 3,400,000.00 FHMS K-110 A2 1.477 04/25/2030 4,184.83 4,184.83 10/26/2026 Coupon 3137FYUJ3 6,775,000.00 FHMS K-128 A2 2.02 03/25/2031 11,404.58 11,404.58 10/26/2026 Coupon 3137H5YC5 2,500,000.00 FHMS K-748 A2 2.26 01/25/2029 4,708.33 4,708.33 10/26/2026 Coupon 3137H74P5 1,415,000.00 FHMS K-749 A2 2.12 03/26/2029 2,499.83 2,499.83 10/26/2026 Coupon 3137H9D71 5,000,000.00 FHMS K-750 A2 3.0 09/25/2029 12,500.00 12,500.00 10/26/2026 Coupon 3137HA4B9 1,887,000.00 FHMS K-751 A2 4.412 03/25/2030 6,937.87 6,937.87 10/26/2026 Coupon 3137HH5X5 5,000,000.00 FHMS K757 A2 4.456 08/25/2031 18,566.67 18,566.67 10/26/2026 Coupon 3137HQDH1 4,750,000.00 FHMS K-764 A2 4.12 12/25/2032 16,308.33 16,308.33 179 of 11211
CONFIDENTIAL | 76
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 10/26/2026 Coupon 64953BBW7 2,615,000.00 NEW YORK LIFE GLOBAL FUNDING 4.4 04/25/2028 57,530.00 57,530.00
10/28/2026 Coupon 40139LBG7 790,000.00 GUARDIAN LIFE GLOBAL FUNDING 5.55 10/28/2027 21,922.50 21,922.50
10/28/2026 Coupon 40139LBK8 2,000,000.00 GUARDIAN LIFE GLOBAL FUNDING 4.798 04/28/2030 47,980.00 47,980.00
October 2026 Total 888,826.76 830,092.80 1,718,919.56
NOVEMBER 2026
11/02/2026 Coupon 13063DYT9 2,000,000.00 CALIFORNIA ST 1.75 11/01/2030 17,500.00 17,500.00 11/02/2026 Coupon 13063ESC1 100,000.00 CALIFORNIA ST 4.35 11/01/2032 2,175.00 2,175.00 11/02/2026 Coupon 13063ESC1 4,500,000.00 CALIFORNIA ST 4.35 11/01/2032 97,875.00 97,875.00 11/02/2026 Coupon 665859AV6 100,000.00 NORTHERN TRUST CORP 1.95 05/01/2030 975.00 975.00 11/02/2026 Coupon 91282CDG3 740,000.00 UNITED STATES TREASURY 1.125 10/31/2026 4,162.50 4,162.50 11/02/2026 Final Maturity 91282CDG3 740,000.00 UNITED STATES TREASURY 1.125 10/31/2026 740,000.00 740,000.00 11/02/2026 Coupon 91282CJF9 3,000,000.00 UNITED STATES TREASURY 4.875 10/31/2028 73,125.00 73,125.00 11/02/2026 Coupon 91282CKP5 4,000,000.00 UNITED STATES TREASURY 4.625 04/30/2029 92,500.00 92,500.00 11/02/2026 Coupon 91282CLR0 5,000,000.00 UNITED STATES TREASURY 4.125 10/31/2029 103,125.00 103,125.00 11/02/2026 Coupon 91282CLS8 3,000,000.00 UNITED STATES TREASURY 4.125 10/31/2026 61,875.00 61,875.00 11/02/2026 Final Maturity 91282CLS8 3,000,000.00 UNITED STATES TREASURY 4.125 10/31/2026 3,000,000.00 3,000,000.00 11/02/2026 Coupon 91282CMZ1 8,000,000.00 UNITED STATES TREASURY 3.875 04/30/2030 155,000.00 155,000.00 11/09/2026 Coupon 06051GMT3 3,000,000.00 BANK OF AMERICA CORP 4.623 05/09/2029 69,345.00 69,345.00 11/09/2026 Coupon 57629TBX4 2,000,000.00 MASSMUTUAL GLOBAL FUNDING II 4.55 05/07/2030 45,500.00 45,500.00
11/16/2026 Coupon 02582JKH2 1,760,000.00 AMXCA 2024-1 A 5.23 04/16/2029 7,670.67 7,670.67 11/16/2026 Coupon 02582JKP4 3,075,000.00 AMXCA 2025-2 A 4.28 04/15/2030 10,967.50 10,967.50 11/16/2026 Coupon 02589BAE0 2,000,000.00 AMXCA 2024-3 A 4.65 07/15/2027 7,750.00 7,750.00 11/16/2026 Coupon 05522RDJ4 1,125,000.00 BACCT 2024-1 A 4.93 05/15/2029 4,621.88 4,621.88 11/16/2026 Coupon 05522RDK1 112,000.00 BACCT 2025-1 A 4.31 05/15/2030 402.27 402.27 11/16/2026 Coupon 161571HV9 3,000,000.00 CHAIT 241 A 4.6 01/16/2029 11,500.00 11,500.00 11/16/2026 Coupon 161571HZ0 100,000.00 CHAIT 2025-1 A 4.16 07/15/2030 346.67 346.67 11/16/2026 Coupon 26442CAX2 2,000,000.00 DUKE ENERGY CAROLINAS LLC 3.95 11/15/2028 39,500.00 39,500.00
180 of 11211
CONFIDENTIAL | 77
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/16/2026 Coupon 341081GP6 100,000.00 FLORIDA POWER & LIGHT CO 4.625 05/15/2030 2,312.50 2,312.50
11/16/2026 Coupon 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 6,412.77 6,412.77 11/16/2026 Principal Paydown 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 100,229.56 100,229.56 11/16/2026 Coupon 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 535.00 535.00 11/16/2026 Coupon 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 4,156.56 4,156.56 11/16/2026 Principal Paydown 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 63,857.18 63,857.18 11/16/2026 Coupon 437921AD1 1,170,000.00 HAROT 252 A3 4.15 10/15/2029 4,046.25 4,046.25 11/16/2026 Coupon 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 6,930.00 6,930.00 11/16/2026 Principal Paydown 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 48,069.65 48,069.65 11/16/2026 Coupon 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 4,454.50 4,454.50 11/16/2026 Principal Paydown 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 67,756.08 67,756.08 11/16/2026 Coupon 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 372.66 372.66 11/16/2026 Coupon 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 3,801.10 3,801.10 11/16/2026 Principal Paydown 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 19,488.83 19,488.83 11/16/2026 Principal Paydown 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 198,786.03 198,786.03 11/16/2026 Coupon 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 299.86 299.86 11/16/2026 Effective Maturity 47800CAC0 479,422.23 JDOT 2023 A3 5.01 11/15/2027 71,823.81 71,823.81 11/16/2026 Coupon 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 5,375.63 5,375.63 11/16/2026 Coupon 58768YAD7 150,000.00 MBALT 2025-A A3 4.61 04/16/2029 576.25 576.25 11/16/2026 Coupon 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 540.79 540.79 11/16/2026 Principal Paydown 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 49,680.50 49,680.50 11/16/2026 Coupon 89231HAD8 150,000.00 TAOT 2025-B A3 4.34 11/15/2029 542.50 542.50 11/16/2026 Coupon 89231HAD8 1,145,000.00 TAOT 2025-B A3 4.34 11/15/2029 4,141.08 4,141.08 11/16/2026 Coupon 9128285M8 250,000.00 UNITED STATES TREASURY 3.125 11/15/2028 3,906.25 3,906.25 11/16/2026 Coupon 91282CKR1 250,000.00 UNITED STATES TREASURY 4.5 05/15/2027 5,625.00 5,625.00 11/16/2026 Coupon 91282CLX7 250,000.00 UNITED STATES TREASURY 4.125 11/15/2027 5,156.25 5,156.25 11/16/2026 Coupon 91282CLX7 5,000,000.00 UNITED STATES TREASURY 4.125 11/15/2027 103,125.00 103,125.00 11/16/2026 Coupon 92970QAE5 3,525,000.00 WFCIT 2024-2 A 4.29 10/15/2029 12,601.88 12,601.88 11/16/2026 Coupon 92970QAJ4 150,000.00 WFCIT 2025-1 A 4.34 05/15/2030 542.50 542.50 11/18/2026 Coupon 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 1,554.85 1,554.85 11/18/2026 Principal Paydown 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 33,812.73 33,812.73 181 of 11211
CONFIDENTIAL | 78
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/19/2026 Coupon 665859AY0 3,000,000.00 NORTHERN TRUST CORP 4.15 11/19/2030 62,250.00 62,250.00 11/20/2026 Coupon 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 5,856.39 5,856.39 11/20/2026 Principal Paydown 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 186,023.31 186,023.31 11/20/2026 Coupon 747525BU6 100,000.00 QUALCOMM INC 4.5 05/20/2030 2,250.00 2,250.00 11/23/2026 Coupon 00287YBX6 2,200,000.00 ABBVIE INC 3.2 11/21/2029 35,200.00 35,200.00 11/23/2026 Coupon 3133ENEM8 2,750,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP
1.43 11/23/2026 19,662.50 19,662.50
11/23/2026 Final Maturity 3133ENEM8 2,750,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP
1.43 11/23/2026 2,750,000.00 2,750,000.00
11/23/2026 Coupon 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 4,136.93 4,136.93 11/23/2026 Principal Paydown 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 87,577.21 87,577.21 11/23/2026 Coupon 857449AE2 3,000,000.00 STATE STREET BANK AND TRUST CO 4.782 11/23/2029 71,730.00 71,730.00
11/25/2026 Coupon 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 2,183.63 2,183.63 11/25/2026 Principal Paydown 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 40,055.33 40,055.33 11/25/2026 Coupon 3137F9Z79 150,000.00 FHMS K-125 A2 1.846 01/25/2031 230.75 230.75 11/25/2026 Coupon 3137FG6X8 3,250,000.00 FHMS K-077 A2 3.85 05/25/2028 10,427.08 10,427.08 11/25/2026 Coupon 3137FHPJ6 1,895,000.00 FHMS K-080 A2 3.926 07/25/2028 6,199.81 6,199.81 11/25/2026 Coupon 3137FJEH8 6,400,000.00 FHMS K-081 A2 3.9 08/25/2028 20,800.00 20,800.00 11/25/2026 Coupon 3137FK4M5 1,890,000.00 FHMS K-085 A2 4.06 10/25/2028 6,394.50 6,394.50 11/25/2026 Coupon 3137FKSH0 200,000.00 FHMS K-086 A2 3.859 11/25/2028 643.17 643.17 11/25/2026 Coupon 3137FKSH0 1,800,000.00 FHMS K-086 A2 3.859 11/25/2028 5,788.50 5,788.50 11/25/2026 Coupon 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 4,540.53 4,540.53 11/25/2026 Principal Paydown 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 1,693.03 1,693.03 11/25/2026 Coupon 3137FLMV3 100,000.00 FHMS K-090 A2 3.422 02/25/2029 285.17 285.17 11/25/2026 Coupon 3137FLN91 200,000.00 FHMS K-091 A2 3.505 03/25/2029 584.17 584.17 11/25/2026 Coupon 3137FLN91 1,915,000.00 FHMS K-091 A2 3.505 03/25/2029 5,593.40 5,593.40 11/25/2026 Coupon 3137FLYV0 4,540,000.00 FHMS K-092 A2 3.298 04/25/2029 12,477.43 12,477.43 11/25/2026 Coupon 3137FNAE0 200,000.00 FHMS K-095 A2 2.785 06/25/2029 464.17 464.17 11/25/2026 Coupon 3137FQKC6 100,000.00 FHMS K-102 A2 2.537 10/25/2029 211.42 211.42 11/25/2026 Coupon 3137FREH0 1,950,000.00 FHMS K-104 A2 2.253 01/25/2030 3,661.13 3,661.13 11/25/2026 Coupon 3137FTZQ3 300,000.00 FHMS K-110 A2 1.477 04/25/2030 369.25 369.25 182 of 11211
CONFIDENTIAL | 79
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/25/2026 Coupon 3137FTZQ3 3,400,000.00 FHMS K-110 A2 1.477 04/25/2030 4,184.83 4,184.83 11/25/2026 Coupon 3137FYUJ3 6,775,000.00 FHMS K-128 A2 2.02 03/25/2031 11,404.58 11,404.58 11/25/2026 Coupon 3137H5YC5 2,500,000.00 FHMS K-748 A2 2.26 01/25/2029 4,708.33 4,708.33 11/25/2026 Coupon 3137H74P5 1,415,000.00 FHMS K-749 A2 2.12 03/26/2029 2,499.83 2,499.83 11/25/2026 Coupon 3137H9D71 5,000,000.00 FHMS K-750 A2 3.0 09/25/2029 12,500.00 12,500.00 11/25/2026 Coupon 3137HA4B9 1,887,000.00 FHMS K-751 A2 4.412 03/25/2030 6,937.87 6,937.87 11/25/2026 Coupon 3137HH5X5 5,000,000.00 FHMS K757 A2 4.456 08/25/2031 18,566.67 18,566.67 11/25/2026 Coupon 3137HQDH1 4,750,000.00 FHMS K-764 A2 4.12 12/25/2032 16,308.33 16,308.33 11/30/2026 Coupon 57629W4T4 1,500,000.00 MASSMUTUAL GLOBAL FUNDING II 5.15 05/30/2029 38,625.00 38,625.00
11/30/2026 Coupon 91282CFZ9 1,800,000.00 UNITED STATES TREASURY 3.875 11/30/2027 34,875.00 34,875.00 11/30/2026 Coupon 91282CHE4 5,000,000.00 UNITED STATES TREASURY 3.625 05/31/2028 90,625.00 90,625.00 11/30/2026 Coupon 91282CJN2 1,100,000.00 UNITED STATES TREASURY 4.375 11/30/2028 24,062.50 24,062.50 11/30/2026 Coupon 91282CKT7 2,000,000.00 UNITED STATES TREASURY 4.5 05/31/2029 45,000.00 45,000.00 11/30/2026 Coupon 91282CMA6 5,000,000.00 UNITED STATES TREASURY 4.125 11/30/2029 103,125.00 103,125.00 11/30/2026 Coupon 91282CNG2 10,000,000.00 UNITED STATES TREASURY 4.0 05/31/2030 200,000.00 200,000.00 11/30/2026 Coupon 91282CPN5 250,000.00 UNITED STATES TREASURY 3.5 11/30/2030 4,375.00 4,375.00 November 2026
Total 7,458,853.23 1,882,663.49 9,341,516.72
DECEMBER 2026
12/01/2026 Coupon 26444HAH4 2,000,000.00 DUKE ENERGY FLORIDA LLC 2.5 12/01/2029 25,000.00 25,000.00 12/01/2026 Coupon 57582TEA6 2,500,000.00 MASSACHUSETTS COMMONWEALTH 4.35 06/01/2030 54,375.00 54,375.00
12/07/2026 Coupon 24422EYD5 100,000.00 JOHN DEERE CAPITAL CORP 4.25 06/05/2028 2,125.00 2,125.00 12/07/2026 Coupon 3130APWY7 5,000,000.00 FEDERAL HOME LOAN BANKS 1.35 12/07/2026 33,750.00 33,750.00 12/07/2026 Final Maturity 3130APWY7 5,000,000.00 FEDERAL HOME LOAN BANKS 1.35 12/07/2026 5,000,000.00 5,000,000.00 12/07/2026 Coupon 64952WFG3 1,135,000.00 NEW YORK LIFE GLOBAL FUNDING 5.0 06/06/2029 28,375.00 28,375.00
12/08/2026 Coupon 3133EPME2 1,900,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP
3.875 06/08/2028 36,812.50 36,812.50
12/10/2026 Coupon 63743HGC0 2,000,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.3 12/10/2030 43,000.00 43,000.00
12/14/2026 Coupon 46647PDF0 100,000.00 JPMORGAN CHASE & CO 4.565 06/14/2030 2,282.50 2,282.50 183 of 11211
CONFIDENTIAL | 80
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/15/2026 Coupon 02582JKH2 1,760,000.00 AMXCA 2024-1 A 5.23 04/16/2029 7,670.67 7,670.67 12/15/2026 Coupon 02582JKP4 3,075,000.00 AMXCA 2025-2 A 4.28 04/15/2030 10,967.50 10,967.50 12/15/2026 Coupon 02589BAE0 2,000,000.00 AMXCA 2024-3 A 4.65 07/15/2027 7,750.00 7,750.00 12/15/2026 Coupon 05522RDJ4 1,125,000.00 BACCT 2024-1 A 4.93 05/15/2029 4,621.88 4,621.88 12/15/2026 Coupon 05522RDK1 112,000.00 BACCT 2025-1 A 4.31 05/15/2030 402.27 402.27 12/15/2026 Coupon 161571HV9 3,000,000.00 CHAIT 241 A 4.6 01/16/2029 11,500.00 11,500.00 12/15/2026 Coupon 161571HZ0 100,000.00 CHAIT 2025-1 A 4.16 07/15/2030 346.67 346.67 12/15/2026 Coupon 26444HAJ0 100,000.00 DUKE ENERGY FLORIDA LLC 1.75 06/15/2030 875.00 875.00 12/15/2026 Coupon 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 6,027.72 6,027.72 12/15/2026 Principal Paydown 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 94,306.95 94,306.95 12/15/2026 Coupon 437076BY7 1,700,000.00 HOME DEPOT INC 2.95 06/15/2029 25,075.00 25,075.00 12/15/2026 Coupon 437921AD1 1,170,000.00 HAROT 252 A3 4.15 10/15/2029 4,046.25 4,046.25 12/15/2026 Coupon 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 6,756.95 6,756.95 12/15/2026 Principal Paydown 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 108,782.81 108,782.81 12/15/2026 Coupon 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 4,198.72 4,198.72 12/15/2026 Principal Paydown 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 157,356.03 157,356.03 12/15/2026 Coupon 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 294.21 294.21 12/15/2026 Coupon 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 3,000.98 3,000.98 12/15/2026 Principal Paydown 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 19,525.73 19,525.73 12/15/2026 Principal Paydown 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 199,162.47 199,162.47 12/15/2026 Coupon 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 5,375.63 5,375.63 12/15/2026 Coupon 58768YAD7 150,000.00 MBALT 2025-A A3 4.61 04/16/2029 576.25 576.25 12/15/2026 Coupon 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 320.54 320.54 12/15/2026 Principal Paydown 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 53,545.50 53,545.50 12/15/2026 Coupon 74340XCG4 2,630,000.00 PROLOGIS LP 4.875 06/15/2028 64,106.25 64,106.25 12/15/2026 Coupon 89231HAD8 150,000.00 TAOT 2025-B A3 4.34 11/15/2029 542.50 542.50 12/15/2026 Coupon 89231HAD8 1,145,000.00 TAOT 2025-B A3 4.34 11/15/2029 4,141.08 4,141.08 12/15/2026 Coupon 92970QAE5 3,525,000.00 WFCIT 2024-2 A 4.29 10/15/2029 12,601.88 12,601.88 12/15/2026 Coupon 92970QAJ4 150,000.00 WFCIT 2025-1 A 4.34 05/15/2030 542.50 542.50 12/16/2026 Coupon 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 535.00 535.00 12/16/2026 Principal Paydown 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 2,962.29 2,962.29 12/16/2026 Coupon 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,910.71 3,910.71 184 of 11211
CONFIDENTIAL | 81
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/16/2026 Principal Paydown 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 60,518.61 60,518.61 12/18/2026 Coupon 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 1,406.35 1,406.35 12/18/2026 Principal Paydown 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 27,434.81 27,434.81 12/21/2026 Coupon 17305EHA6 1,600,000.00 CCCIT 2025-A1 A1 4.3 06/21/2030 34,400.00 34,400.00 12/21/2026 Coupon 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 5,146.40 5,146.40 12/21/2026 Principal Paydown 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 236,658.04 236,658.04 12/21/2026 Coupon 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 3,803.41 3,803.41 12/21/2026 Principal Paydown 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 83,517.95 83,517.95 12/25/2026 Coupon 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 2,010.72 2,010.72 12/25/2026 Principal Paydown 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 38,226.06 38,226.06 12/25/2026 Coupon 3137F9Z79 150,000.00 FHMS K-125 A2 1.846 01/25/2031 230.75 230.75 12/25/2026 Coupon 3137FG6X8 3,250,000.00 FHMS K-077 A2 3.85 05/25/2028 10,427.08 10,427.08 12/25/2026 Coupon 3137FHPJ6 1,895,000.00 FHMS K-080 A2 3.926 07/25/2028 6,199.81 6,199.81 12/25/2026 Coupon 3137FJEH8 6,400,000.00 FHMS K-081 A2 3.9 08/25/2028 20,800.00 20,800.00 12/25/2026 Coupon 3137FK4M5 1,890,000.00 FHMS K-085 A2 4.06 10/25/2028 6,394.50 6,394.50 12/25/2026 Coupon 3137FKSH0 200,000.00 FHMS K-086 A2 3.859 11/25/2028 643.17 643.17 12/25/2026 Coupon 3137FKSH0 1,800,000.00 FHMS K-086 A2 3.859 11/25/2028 5,788.50 5,788.50 12/25/2026 Coupon 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 4,535.21 4,535.21 12/25/2026 Principal Paydown 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 1,844.77 1,844.77 12/25/2026 Coupon 3137FLMV3 100,000.00 FHMS K-090 A2 3.422 02/25/2029 285.17 285.17 12/25/2026 Coupon 3137FLN91 200,000.00 FHMS K-091 A2 3.505 03/25/2029 584.17 584.17 12/25/2026 Coupon 3137FLN91 1,915,000.00 FHMS K-091 A2 3.505 03/25/2029 5,593.40 5,593.40 12/25/2026 Coupon 3137FLYV0 4,540,000.00 FHMS K-092 A2 3.298 04/25/2029 12,477.43 12,477.43 12/25/2026 Coupon 3137FNAE0 200,000.00 FHMS K-095 A2 2.785 06/25/2029 464.17 464.17 12/25/2026 Coupon 3137FQKC6 100,000.00 FHMS K-102 A2 2.537 10/25/2029 211.42 211.42 12/25/2026 Coupon 3137FREH0 1,950,000.00 FHMS K-104 A2 2.253 01/25/2030 3,661.13 3,661.13 12/25/2026 Coupon 3137FTZQ3 300,000.00 FHMS K-110 A2 1.477 04/25/2030 369.25 369.25 12/25/2026 Coupon 3137FTZQ3 3,400,000.00 FHMS K-110 A2 1.477 04/25/2030 4,184.83 4,184.83 12/25/2026 Coupon 3137FYUJ3 6,775,000.00 FHMS K-128 A2 2.02 03/25/2031 11,404.58 11,404.58 12/25/2026 Coupon 3137H5YC5 2,500,000.00 FHMS K-748 A2 2.26 01/25/2029 4,708.33 4,708.33 12/25/2026 Coupon 3137H74P5 1,415,000.00 FHMS K-749 A2 2.12 03/26/2029 2,499.83 2,499.83 12/25/2026 Coupon 3137H9D71 5,000,000.00 FHMS K-750 A2 3.0 09/25/2029 12,500.00 12,500.00 185 of 11211
CONFIDENTIAL | 82
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 12/25/2026 Coupon 3137HA4B9 1,887,000.00 FHMS K-751 A2 4.412 03/25/2030 6,937.87 6,937.87 12/25/2026 Coupon 3137HH5X5 5,000,000.00 FHMS K757 A2 4.456 08/25/2031 18,566.67 18,566.67 12/25/2026 Coupon 3137HQDH1 4,750,000.00 FHMS K-764 A2 4.12 12/25/2032 16,308.33 16,308.33 12/28/2026 Coupon 437076DC3 1,700,000.00 HOME DEPOT INC 4.75 06/25/2029 40,375.00 40,375.00 12/31/2026 Coupon 91282CGB1 250,000.00 UNITED STATES TREASURY 3.875 12/31/2029 4,843.75 4,843.75 12/31/2026 Coupon 91282CGC9 3,800,000.00 UNITED STATES TREASURY 3.875 12/31/2027 73,625.00 73,625.00 12/31/2026 Coupon 91282CJR3 3,750,000.00 UNITED STATES TREASURY 3.75 12/31/2028 70,312.50 70,312.50 12/31/2026 Coupon 91282CKX8 2,250,000.00 UNITED STATES TREASURY 4.25 06/30/2029 47,812.50 47,812.50 12/31/2026 Coupon 91282CNK3 5,000,000.00 UNITED STATES TREASURY 3.875 06/30/2030 96,875.00 96,875.00 12/31/2026 Coupon 91282CNL1 250,000.00 UNITED STATES TREASURY 3.75 06/30/2027 4,687.50 4,687.50 December 2026
Total 6,083,842.00 952,979.86 7,036,821.86
JANUARY 2027
01/04/2027 Coupon 74464AAC5 100,000.00 PUBLIC STORAGE OPERATING CO 4.375 07/01/2030 2,187.50 2,187.50
01/08/2027 Coupon 59217GFR5 1,500,000.00 METROPOLITAN LIFE GLOBAL FUNDING I 4.85 01/08/2029 36,375.00 36,375.00
01/11/2027 Coupon 59217GFT1 2,490,000.00 METROPOLITAN LIFE GLOBAL FUNDING I 4.9 01/09/2030 61,005.00 61,005.00
01/11/2027 Coupon 64952WFR9 2,190,000.00 NEW YORK LIFE GLOBAL FUNDING 4.25 01/09/2031 46,537.50 46,537.50
01/11/2027 Coupon 66815L2Q1 2,000,000.00 NORTHWESTERN MUTUAL GLOBAL FUNDING
4.71 01/10/2029 47,100.00 47,100.00
01/12/2027 Coupon 78016FZW7 1,870,000.00 ROYAL BANK OF CANADA 4.9 01/12/2028 45,815.00 45,815.00 01/12/2027 Coupon 89236TKQ7 2,330,000.00 TOYOTA MOTOR CREDIT CORP 4.625 01/12/2028 53,881.25 53,881.25
01/13/2027 Coupon 66815L2Z1 2,715,000.00 NORTHWESTERN MUTUAL GLOBAL FUNDING
4.3 01/13/2031 58,372.50 58,372.50
01/15/2027 Coupon 02582JKH2 1,760,000.00 AMXCA 2024-1 A 5.23 04/16/2029 7,670.67 7,670.67 01/15/2027 Coupon 02582JKP4 3,075,000.00 AMXCA 2025-2 A 4.28 04/15/2030 10,967.50 10,967.50 01/15/2027 Coupon 02589BAE0 2,000,000.00 AMXCA 2024-3 A 4.65 07/15/2027 7,750.00 7,750.00 01/15/2027 Coupon 05522RDJ4 1,125,000.00 BACCT 2024-1 A 4.93 05/15/2029 4,621.88 4,621.88 01/15/2027 Coupon 05522RDK1 112,000.00 BACCT 2025-1 A 4.31 05/15/2030 402.27 402.27 186 of 11211
CONFIDENTIAL | 83
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/15/2027 Coupon 161571HV9 3,000,000.00 CHAIT 241 A 4.6 01/16/2029 11,500.00 11,500.00 01/15/2027 Effective Maturity 161571HV9 3,000,000.00 CHAIT 241 A 4.6 01/16/2029 3,000,000.00 3,000,000.00 01/15/2027 Coupon 161571HZ0 100,000.00 CHAIT 2025-1 A 4.16 07/15/2030 346.67 346.67 01/15/2027 Coupon 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 5,665.42 5,665.42 01/15/2027 Principal Paydown 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 92,708.95 92,708.95 01/15/2027 Coupon 437921AD1 1,170,000.00 HAROT 252 A3 4.15 10/15/2029 4,046.25 4,046.25 01/15/2027 Coupon 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 6,365.33 6,365.33 01/15/2027 Principal Paydown 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 106,543.91 106,543.91 01/15/2027 Coupon 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 3,604.70 3,604.70 01/15/2027 Principal Paydown 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 137,919.38 137,919.38 01/15/2027 Coupon 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 215.62 215.62 01/15/2027 Coupon 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 2,199.35 2,199.35 01/15/2027 Principal Paydown 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 19,228.92 19,228.92 01/15/2027 Principal Paydown 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 196,134.94 196,134.94 01/15/2027 Coupon 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 5,375.63 5,375.63 01/15/2027 Principal Paydown 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 12,777.66 12,777.66 01/15/2027 Coupon 58768YAD7 150,000.00 MBALT 2025-A A3 4.61 04/16/2029 576.25 576.25 01/15/2027 Coupon 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 83.15 83.15 01/15/2027 Effective Maturity 58770JAD6 498,451.65 MBALT 2024-A A3 5.32 01/18/2028 18,756.31 18,756.31 01/15/2027 Coupon 756109AU8 1,740,000.00 REALTY INCOME CORP 3.65 01/15/2028 31,755.00 31,755.00 01/15/2027 Coupon 756109CB8 100,000.00 REALTY INCOME CORP 4.0 07/15/2029 2,000.00 2,000.00 01/15/2027 Coupon 828807DK0 100,000.00 SIMON PROPERTY GROUP LP 2.65 07/15/2030 1,325.00 1,325.00 01/15/2027 Coupon 828807DK0 4,000,000.00 SIMON PROPERTY GROUP LP 2.65 07/15/2030 53,000.00 53,000.00 01/15/2027 Coupon 87612EBM7 425,000.00 TARGET CORP 1.95 01/15/2027 4,143.75 4,143.75 01/15/2027 Final Maturity 87612EBM7 425,000.00 TARGET CORP 1.95 01/15/2027 425,000.00 425,000.00 01/15/2027 Coupon 89231HAD8 150,000.00 TAOT 2025-B A3 4.34 11/15/2029 542.50 542.50 01/15/2027 Coupon 89231HAD8 1,145,000.00 TAOT 2025-B A3 4.34 11/15/2029 4,141.08 4,141.08 01/15/2027 Coupon 91282CKZ3 4,000,000.00 UNITED STATES TREASURY 4.375 07/15/2027 87,500.00 87,500.00 01/15/2027 Coupon 91282CMF5 250,000.00 UNITED STATES TREASURY 4.25 01/15/2028 5,312.50 5,312.50 01/15/2027 Coupon 92970QAE5 3,525,000.00 WFCIT 2024-2 A 4.29 10/15/2029 12,601.88 12,601.88 01/15/2027 Coupon 92970QAJ4 150,000.00 WFCIT 2025-1 A 4.34 05/15/2030 542.50 542.50 01/18/2027 Coupon 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 524.43 524.43 187 of 11211
CONFIDENTIAL | 84
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/18/2027 Principal Paydown 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 6,236.30 6,236.30 01/18/2027 Coupon 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,677.71 3,677.71 01/18/2027 Principal Paydown 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 59,540.84 59,540.84 01/18/2027 Coupon 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 1,285.87 1,285.87 01/18/2027 Principal Paydown 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 26,918.62 26,918.62 01/19/2027 Coupon 24422EXH7 1,000,000.00 JOHN DEERE CAPITAL CORP 4.5 01/16/2029 22,500.00 22,500.00 01/19/2027 Coupon 61747YFK6 3,000,000.00 MORGAN STANLEY 5.173 01/16/2030 77,595.00 77,595.00 01/19/2027 Coupon 713448FX1 2,035,000.00 PEPSICO INC 4.5 07/17/2029 45,787.50 45,787.50 01/20/2027 Coupon 025816EJ4 100,000.00 AMERICAN EXPRESS CO 4.351 07/20/2029 2,175.50 2,175.50 01/20/2027 Coupon 24422EWR6 1,000,000.00 JOHN DEERE CAPITAL CORP 4.75 01/20/2028 23,750.00 23,750.00 01/20/2027 Coupon 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 4,243.16 4,243.16 01/20/2027 Principal Paydown 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 242,471.22 242,471.22 01/21/2027 Coupon 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 3,485.34 3,485.34 01/21/2027 Principal Paydown 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 81,769.52 81,769.52 01/25/2027 Coupon 06051GHV4 100,000.00 BANK OF AMERICA CORP 3.194 07/23/2030 1,597.00 1,597.00 01/25/2027 Coupon 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 1,845.71 1,845.71 01/25/2027 Principal Paydown 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 37,592.49 37,592.49 01/25/2027 Coupon 3137F9Z79 150,000.00 FHMS K-125 A2 1.846 01/25/2031 230.75 230.75 01/25/2027 Coupon 3137FG6X8 3,250,000.00 FHMS K-077 A2 3.85 05/25/2028 10,427.08 10,427.08 01/25/2027 Coupon 3137FHPJ6 1,895,000.00 FHMS K-080 A2 3.926 07/25/2028 6,199.81 6,199.81 01/25/2027 Coupon 3137FJEH8 6,400,000.00 FHMS K-081 A2 3.9 08/25/2028 20,800.00 20,800.00 01/25/2027 Coupon 3137FK4M5 1,890,000.00 FHMS K-085 A2 4.06 10/25/2028 6,394.50 6,394.50 01/25/2027 Coupon 3137FKSH0 200,000.00 FHMS K-086 A2 3.859 11/25/2028 643.17 643.17 01/25/2027 Coupon 3137FKSH0 1,800,000.00 FHMS K-086 A2 3.859 11/25/2028 5,788.50 5,788.50 01/25/2027 Coupon 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 4,529.41 4,529.41 01/25/2027 Principal Paydown 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 1,706.37 1,706.37 01/25/2027 Coupon 3137FLMV3 100,000.00 FHMS K-090 A2 3.422 02/25/2029 285.17 285.17 01/25/2027 Coupon 3137FLN91 200,000.00 FHMS K-091 A2 3.505 03/25/2029 584.17 584.17 01/25/2027 Coupon 3137FLN91 1,915,000.00 FHMS K-091 A2 3.505 03/25/2029 5,593.40 5,593.40 01/25/2027 Coupon 3137FLYV0 4,540,000.00 FHMS K-092 A2 3.298 04/25/2029 12,477.43 12,477.43 01/25/2027 Coupon 3137FNAE0 200,000.00 FHMS K-095 A2 2.785 06/25/2029 464.17 464.17 01/25/2027 Coupon 3137FQKC6 100,000.00 FHMS K-102 A2 2.537 10/25/2029 211.42 211.42 188 of 11211
CONFIDENTIAL | 85
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/25/2027 Coupon 3137FREH0 1,950,000.00 FHMS K-104 A2 2.253 01/25/2030 3,661.13 3,661.13 01/25/2027 Coupon 3137FTZQ3 300,000.00 FHMS K-110 A2 1.477 04/25/2030 369.25 369.25 01/25/2027 Coupon 3137FTZQ3 3,400,000.00 FHMS K-110 A2 1.477 04/25/2030 4,184.83 4,184.83 01/25/2027 Coupon 3137FYUJ3 6,775,000.00 FHMS K-128 A2 2.02 03/25/2031 11,404.58 11,404.58 01/25/2027 Coupon 3137H5YC5 2,500,000.00 FHMS K-748 A2 2.26 01/25/2029 4,708.33 4,708.33 01/25/2027 Coupon 3137H74P5 1,415,000.00 FHMS K-749 A2 2.12 03/26/2029 2,499.83 2,499.83 01/25/2027 Coupon 3137H9D71 5,000,000.00 FHMS K-750 A2 3.0 09/25/2029 12,500.00 12,500.00 01/25/2027 Coupon 3137HA4B9 1,887,000.00 FHMS K-751 A2 4.412 03/25/2030 6,937.87 6,937.87 01/25/2027 Coupon 3137HH5X5 5,000,000.00 FHMS K757 A2 4.456 08/25/2031 18,566.67 18,566.67 01/25/2027 Coupon 3137HQDH1 4,750,000.00 FHMS K-764 A2 4.12 12/25/2032 16,308.33 16,308.33 01/25/2027 Coupon 46647PAV8 3,000,000.00 JPMORGAN CHASE & CO 4.203 07/23/2029 63,045.00 63,045.00 01/25/2027 Coupon 46647PEA0 2,000,000.00 JPMORGAN CHASE & CO 5.04 01/23/2028 50,400.00 50,400.00 01/25/2027 Effective Maturity 46647PEA0 2,000,000.00 JPMORGAN CHASE & CO 5.04 01/23/2028 2,000,000.00 2,000,000.00 01/25/2027 Coupon 6174468G7 100,000.00 MORGAN STANLEY 4.431 01/23/2030 2,215.50 2,215.50 01/26/2027 Coupon 06406RBK2 100,000.00 BANK OF NEW YORK MELLON CORP 4.596 07/26/2030 2,298.00 2,298.00
January 2027 Total 6,465,305.42 1,087,724.16 7,553,029.58 FEBRUARY 2027
02/01/2027 Coupon 13063EGT7 2,880,000.00 CALIFORNIA STATE 4.5 08/01/2029 64,800.00 64,800.00 02/01/2027 Coupon 78016HZV5 1,200,000.00 ROYAL BANK OF CANADA 4.95 02/01/2029 29,700.00 29,700.00 02/01/2027 Coupon 91282CGH8 5,000,000.00 UNITED STATES TREASURY 3.5 01/31/2028 87,500.00 87,500.00 02/01/2027 Coupon 91282CHQ7 5,000,000.00 UNITED STATES TREASURY 4.125 07/31/2028 103,125.00 103,125.00 02/01/2027 Coupon 91282CHR5 250,000.00 UNITED STATES TREASURY 4.0 07/31/2030 5,000.00 5,000.00 02/01/2027 Coupon 91282CJW2 5,500,000.00 UNITED STATES TREASURY 4.0 01/31/2029 110,000.00 110,000.00 02/01/2027 Coupon 91282CLC3 4,000,000.00 UNITED STATES TREASURY 4.0 07/31/2029 80,000.00 80,000.00 02/03/2027 Coupon 6944PL3M9 75,000.00 PACIFIC LIFE GLOBAL FUNDING II 4.375 02/03/2031 1,640.63 1,640.63
02/03/2027 Coupon 6944PL3M9 2,000,000.00 PACIFIC LIFE GLOBAL FUNDING II 4.375 02/03/2031 43,750.00 43,750.00
02/08/2027 Coupon 63743HFX5 1,500,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.95 02/07/2030 37,125.00 37,125.00
02/08/2027 Coupon 713448GA0 100,000.00 PEPSICO INC 4.45 02/07/2028 2,225.00 2,225.00 189 of 11211
CONFIDENTIAL | 86
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/09/2027 Coupon 89236TMK8 2,000,000.00 TOYOTA MOTOR CREDIT CORP 4.55 08/09/2029 45,500.00 45,500.00 02/12/2027 Coupon 92826CAZ5 2,690,000.00 VISA INC 4.1 02/12/2031 55,145.00 55,145.00 02/15/2027 Coupon 05522RDJ4 1,125,000.00 BACCT 2024-1 A 4.93 05/15/2029 4,621.88 4,621.88 02/15/2027 Coupon 161571HZ0 100,000.00 CHAIT 2025-1 A 4.16 07/15/2030 346.67 346.67 02/15/2027 Coupon 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 5,309.27 5,309.27 02/15/2027 Principal Paydown 34535VAD6 1,850,000.00 FORDO 2024-D A3 4.61 08/15/2029 91,776.83 91,776.83 02/15/2027 Coupon 437921AD1 1,170,000.00 HAROT 252 A3 4.15 10/15/2029 4,046.25 4,046.25 02/15/2027 Principal Paydown 437921AD1 1,170,000.00 HAROT 252 A3 4.15 10/15/2029 45,008.17 45,008.17 02/15/2027 Coupon 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 5,981.77 5,981.77 02/15/2027 Principal Paydown 44935CAD3 1,925,000.00 HART 2025-A A3 4.32 10/15/2029 105,520.81 105,520.81 02/15/2027 Coupon 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 3,084.06 3,084.06 02/15/2027 Principal Paydown 44935DAD1 1,180,000.00 HALST 2025-B A3 4.53 04/17/2028 149,157.13 149,157.13 02/15/2027 Coupon 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 138.23 138.23 02/15/2027 Coupon 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 1,409.91 1,409.91 02/15/2027 Principal Paydown 44935WAD9 150,000.00 HALST 2025-A A3 4.83 01/18/2028 17,523.89 17,523.89 02/15/2027 Principal Paydown 44935WAD9 1,530,000.00 HALST 2025-A A3 4.83 01/18/2028 178,743.69 178,743.69 02/15/2027 Coupon 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 5,330.58 5,330.58 02/15/2027 Principal Paydown 47800DAD6 1,525,000.00 JDOT 2025 A3 4.23 09/17/2029 104,027.68 104,027.68 02/15/2027 Coupon 58768YAD7 150,000.00 MBALT 2025-A A3 4.61 04/16/2029 576.25 576.25 02/15/2027 Coupon 89231HAD8 150,000.00 TAOT 2025-B A3 4.34 11/15/2029 542.50 542.50 02/15/2027 Coupon 89231HAD8 1,145,000.00 TAOT 2025-B A3 4.34 11/15/2029 4,141.08 4,141.08 02/15/2027 Principal Paydown 89231HAD8 150,000.00 TAOT 2025-B A3 4.34 11/15/2029 4,591.17 4,591.17 02/15/2027 Principal Paydown 89231HAD8 1,145,000.00 TAOT 2025-B A3 4.34 11/15/2029 35,045.90 35,045.90 02/16/2027 Coupon 02582JKH2 1,760,000.00 AMXCA 2024-1 A 5.23 04/16/2029 7,670.67 7,670.67 02/16/2027 Coupon 02582JKP4 3,075,000.00 AMXCA 2025-2 A 4.28 04/15/2030 10,967.50 10,967.50 02/16/2027 Coupon 02589BAE0 2,000,000.00 AMXCA 2024-3 A 4.65 07/15/2027 7,750.00 7,750.00 02/16/2027 Coupon 05522RDK1 112,000.00 BACCT 2025-1 A 4.31 05/15/2030 402.27 402.27 02/16/2027 Coupon 14913UBB5 100,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.1 08/15/2028 2,050.00 2,050.00
02/16/2027 Coupon 171239AL0 1,441,000.00 CHUBB INA HOLDINGS LLC 4.65 08/15/2029 33,503.25 33,503.25 02/16/2027 Coupon 30303M8S4 1,520,000.00 META PLATFORMS INC 4.3 08/15/2029 32,680.00 32,680.00 02/16/2027 Coupon 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 502.19 502.19 190 of 11211
CONFIDENTIAL | 87
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/16/2027 Principal Paydown 362549AD9 150,000.00 GMCAR 2025-2 A3 4.28 04/16/2030 7,876.13 7,876.13 02/16/2027 Coupon 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 3,448.48 3,448.48 02/16/2027 Principal Paydown 362955AD8 1,240,000.00 GMCAR 2025-1 A3 4.62 12/17/2029 55,998.71 55,998.71 02/16/2027 Coupon 532457CQ9 1,925,000.00 ELI LILLY AND CO 4.2 08/14/2029 40,425.00 40,425.00 02/16/2027 Coupon 9128286B1 250,000.00 UNITED STATES TREASURY 2.625 02/15/2029 3,281.25 3,281.25 02/16/2027 Coupon 91282CLG4 250,000.00 UNITED STATES TREASURY 3.75 08/15/2027 4,687.50 4,687.50 02/16/2027 Coupon 92970QAE5 3,525,000.00 WFCIT 2024-2 A 4.29 10/15/2029 12,601.88 12,601.88 02/16/2027 Coupon 92970QAJ4 150,000.00 WFCIT 2025-1 A 4.34 05/15/2030 542.50 542.50 02/18/2027 Coupon 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 1,167.65 1,167.65 02/18/2027 Principal Paydown 437930AC4 600,577.64 HAROT 2024-2 A3 5.27 11/20/2028 26,536.17 26,536.17 02/22/2027 Coupon 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 3,317.72 3,317.72 02/22/2027 Principal Paydown 362962AD4 1,725,000.00 GMALT 2025-2 A3 4.58 05/22/2028 196,252.01 196,252.01 02/22/2027 Coupon 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 3,173.94 3,173.94 02/22/2027 Principal Paydown 43813YAC6 1,653,456.70 HAROT 2024-3 A3 4.57 03/21/2029 80,362.00 80,362.00 02/25/2027 Coupon 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 1,683.44 1,683.44 02/25/2027 Principal Paydown 096919AD7 790,881.16 BMWOT 2024-A A3 5.18 02/26/2029 37,152.50 37,152.50 02/25/2027 Coupon 3137F9Z79 150,000.00 FHMS K-125 A2 1.846 01/25/2031 230.75 230.75 02/25/2027 Coupon 3137FG6X8 3,250,000.00 FHMS K-077 A2 3.85 05/25/2028 10,427.08 10,427.08 02/25/2027 Coupon 3137FHPJ6 1,895,000.00 FHMS K-080 A2 3.926 07/25/2028 6,199.81 6,199.81 02/25/2027 Coupon 3137FJEH8 6,400,000.00 FHMS K-081 A2 3.9 08/25/2028 20,800.00 20,800.00 02/25/2027 Coupon 3137FK4M5 1,890,000.00 FHMS K-085 A2 4.06 10/25/2028 6,394.50 6,394.50 02/25/2027 Coupon 3137FKSH0 200,000.00 FHMS K-086 A2 3.859 11/25/2028 643.17 643.17 02/25/2027 Coupon 3137FKSH0 1,800,000.00 FHMS K-086 A2 3.859 11/25/2028 5,788.50 5,788.50 02/25/2027 Coupon 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 4,524.05 4,524.05 02/25/2027 Principal Paydown 3137FKUP9 1,456,984.03 FHMS K-087 A2 3.771 12/25/2028 1,712.79 1,712.79 02/25/2027 Coupon 3137FLMV3 100,000.00 FHMS K-090 A2 3.422 02/25/2029 285.17 285.17 02/25/2027 Coupon 3137FLN91 200,000.00 FHMS K-091 A2 3.505 03/25/2029 584.17 584.17 02/25/2027 Coupon 3137FLN91 1,915,000.00 FHMS K-091 A2 3.505 03/25/2029 5,593.40 5,593.40 02/25/2027 Coupon 3137FLYV0 4,540,000.00 FHMS K-092 A2 3.298 04/25/2029 12,477.43 12,477.43 02/25/2027 Coupon 3137FNAE0 200,000.00 FHMS K-095 A2 2.785 06/25/2029 464.17 464.17 02/25/2027 Coupon 3137FQKC6 100,000.00 FHMS K-102 A2 2.537 10/25/2029 211.42 211.42 02/25/2027 Coupon 3137FREH0 1,950,000.00 FHMS K-104 A2 2.253 01/25/2030 3,661.13 3,661.13 191 of 11211
CONFIDENTIAL | 88
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/25/2027 Coupon 3137FTZQ3 300,000.00 FHMS K-110 A2 1.477 04/25/2030 369.25 369.25 02/25/2027 Coupon 3137FTZQ3 3,400,000.00 FHMS K-110 A2 1.477 04/25/2030 4,184.83 4,184.83 02/25/2027 Coupon 3137FYUJ3 6,775,000.00 FHMS K-128 A2 2.02 03/25/2031 11,404.58 11,404.58 02/25/2027 Coupon 3137H5YC5 2,500,000.00 FHMS K-748 A2 2.26 01/25/2029 4,708.33 4,708.33 02/25/2027 Coupon 3137H74P5 1,415,000.00 FHMS K-749 A2 2.12 03/26/2029 2,499.83 2,499.83 02/25/2027 Coupon 3137H9D71 5,000,000.00 FHMS K-750 A2 3.0 09/25/2029 12,500.00 12,500.00 02/25/2027 Coupon 3137HA4B9 1,887,000.00 FHMS K-751 A2 4.412 03/25/2030 6,937.87 6,937.87 02/25/2027 Coupon 3137HH5X5 5,000,000.00 FHMS K757 A2 4.456 08/25/2031 18,566.67 18,566.67 02/25/2027 Coupon 3137HQDH1 4,750,000.00 FHMS K-764 A2 4.12 12/25/2032 16,308.33 16,308.33 02/26/2027 Coupon 17275RBR2 1,190,000.00 CISCO SYSTEMS INC 4.85 02/26/2029 28,857.50 28,857.50 February 2027
Total 1,137,285.57 1,055,516.23 2,192,801.79
Grand Total 1,770,810,219.19 55,300,508.80 13,608,297.25 68,908,806.05 192 of 11211
CONFIDENTIAL | 89
City of San Mateo Cons | Account #10720 | As of March 31, 2026 Execution Time: 04/16/2026 02:03:57 PM Chandler Asset Management | [email protected] | www.chandlerasset.com | 800.317.4747
IMPORTANT DISCLOSURES
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Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest.
LGIP Yields: Reported yields for local government investment pools may be presented as either the 30-day yield or the monthly distribution yield, as applicable. For certain funds, the 30-day yield is calculated using reported daily yield data. Yield calculations are subject to change and may not be directly comparable across funds.
LAIF Yields: Additional Disclosure for CA Clients - As a result of a reporting lag from the Local Agency Investment Fund (LAIF), reported LAIF yields represent the most recently available Daily Effective Yield and may reflect data from approximately 7–10 days prior to month-end. 193 of 11211
CITY OF SAN MATEO
CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 11 Section Name: CONSENT CALENDAR Account Number: 10-1311 File ID: 26-11027 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: Human Resources Department
MEETING DATE: May 18, 2026
SUBJECT:
Fellow I-II New Classification Series, Job Specification, and Salary Schedules – Approval RECOMMENDATION:
Adopt a Resolution to approve the 1) new limited duration Fellow I-II classification and job specification series pursuant to Personnel Rules and Regulations Section 1 (16) and San Mateo City Employee Association (SMCEA) Memorandum of Understanding Section 27.6 (Limited Duration Positions); and 2) salary ranges for the Fellow I and Fellow II classifications.
BACKGROUND:
The City of San Mateo is implementing a Fellowship Program on a pilot basis. The purpose of this program is to provide talented individuals who have earned an undergraduate or postgraduate degree with the opportunity to gain in-depth meaningful experience with the City of San Mateo while making a positive impact in our community. The Fellowship Program is designed to attract more individuals into the public sector, provide professional development opportunities to help individuals grow as local government leaders, build pipelines for City jobs, and diversify the City’s applicant pool.
Employees in this classification will be hired on a limited duration- up to two (2) years. All employees appointed into this classification must be authorized by the City Manager and shall include the reason for the limited duration appointment in the offer letter as outlined in SMCEA Memorandum of Understanding, Section 27.6.
27.6 Limited Duration Positions
City may hire employees in limited duration positions (non-permanent positions) that will not exceed three (3) years for any of the following reasons: (1) where the position is created for a project(s) or work that is expected to be completed within three (3) years; (2) where the position is funded by grant funds of three (3) or less years in duration; or (3) where the position is funded by moneys from capital or enterprise funds that may be unavailable after three (3) years. Employees shall be informed of the duration of the position at the time of employment. At the end of the position’s duration, employment shall terminate and the employee shall not have layoff rights, bumping rights, severance payments or re-employment rights.
Additionally, Personnel Rules subsection 16 of Section 1 (Definitions) defines “Limited Duration Positions” as nonpermanent, not exceeding three years, and that can be utilized for specified reasons, including those listed in Section 27.6 of the SMCEA Memorandum of Understanding.
This initiative is linked to the following City Council Priorities: Work with schools, community colleges, businesses, and other organizations to expand youth and senior workforce development & civic leadership opportunities.
Offering fellowships enables the City of San Mateo to:
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• Continually attract talented undergraduate and graduate level candidates to the City and establish talent pipelines that will help the City’s workforce succession efforts. • Identify and develop the next generation of City leaders. • Form long-lasting partnerships with local universities, which are a valuable resource for recruiting new talent to the organization.
• Provide departments with the flexibility needed for when a new project or initiative arises that requires talented individuals with certain areas of expertise.
• Compete with the private sector, as it offers individuals the opportunity to gain valuable and meaningful work experience without making a long-term commitment.
• Allows the City to utilize one-time funds to fund limited term staffing positions to meet organizational and community needs.
The City Manager’s Office and Human Resources Department recommend creating a limited-term, flexibly staffed classification series- Fellow I-II, and to set the annual salary range as follows:
• Fellow I: $72,384.62- $86,320.00 - Requires a bachelor’s degree • Fellow II: $79,657.96 - $94,993.60 - Requires a master’s degree BUDGET IMPACT:
The creation of this job classification series will have no direct impact on the budget.
ENVIRONMENTAL DETERMINATION:
This new classification series is not subject to CEQA, because it will not cause a physical change in the environment. (CEQA Guidelines Section 15378(b)(4).)
NOTICE PROVIDED
All meeting noticing requirements were met.
ATTACHMENTS
Att 1 – Proposed Resolution
Exhibit A – Job Specification
Exhibit B – Merit Salary Schedule
STAFF CONTACT
Aracelia G. Esparza, Human Resources Director
[email protected]
(650) 522-7276
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CITY OF SAN MATEO
RESOLUTION NO. __ (2026)
APPROVING NEW CLASSIFICATION SERIES IN THE CITY OF SAN MATEO WHEREAS, pursuant to the San Mateo Municipal Code Section 2.57.030(d), approval of new classifications and related job specifications, salary schedules, compensation changes, elimination or reinstatement of positions, reallocation of positions, reclassifications, and revisions of job specifications must be approved by City Council Resolution; and
WHEREAS, the proposed new Fellow I-II classification series as detailed below will allow the City of San Mateo (“City”) to provide talented individuals who have earned an undergraduate or postgraduate degree with the opportunity to gain in-depth meaningful experience with the City while making a positive impact in our community; and
WHEREAS, the proposed job specification and salary ranges for the Fellow I-II classification series are attached hereto as Exhibits A and B, and incorporated by reference; and WHEREAS, the employee association representing the impacted classification has been informed of the proposed new classification series and has not brought forth any objections or concerns.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SAN MATEO, CALIFORNIA, HEREBY RESOLVES that:
1. This new classification series is not subject to CEQA, because it will not cause a physical change in the environment. (CEQA Guidelines Section 15378(b)(4).
2. The job specification for the new limited duration Fellow I-II classification series, pursuant to the Personnel Rules and Regulations Section 1 (16) and the San Mateo City Employee Association (SMCEA) Memorandum of Understanding Section 27.6- Limited Duration Position, is approved and attached as Exhibits A.
3. All employees appointed into this classification must be authorized by the City Manager and shall include the reason for the limited duration appointment in the offer letter as outlined in SMCEA Memorandum of Understanding, Section 27.6.
4. The salary schedules for the Fellow I and Fellow II are approved and attached hereto as Exhibit B. 196 of 11211
Exhibit A
FELLOW I - II
DEFINITION
Under general supervision, provides professional, administrative and technical services in a training capacity in the areas of planning, designing, organizing or evaluating programs or projects; coordinates and conducts a variety of sophisticated research and operational studies; assists professional staff with administrative support; and performs other related work as required.
SUPERVISION EXERCISED AND RECEIVED
Fellows are assigned to work in a training capacity in one or more of the City’s departments on a limited duration (non-permanent) basis (up to two years). Fellows are expected to work independently within general guidelines and instructions. The City’s Fellowship Program provides talented individuals who have obtained an undergraduate or postgraduate degree with the opportunity to gain in-depth experience in the public sector and make a positive impact in our community.
Fellows lead or provide support on a variety of high-level, complex projects for different City departments. Fellows also receive a wide variety of professional development and networking opportunities designed to help each individual grow as a local government leader.
EXAMPLES OF IMPORTANT AND ESSENTIAL DUTIES -Duties may include, but are not limited to, the following:
1. Conduct data collection, operational studies, analysis, and report writing.
2. Conduct policy research and present findings.
3. Collaborate with various stakeholders citywide on special projects, initiatives, and committees.
4. Assist with the evaluation and revisions of various policies, procedures, programs, and systems.
5. Assist with project management, including planning, evaluation, and implementation of various programs, projects, and systems.
6. Prepare, coordinate, and conduct meetings, focus groups, and presentations.
7. Assist with citywide and departmental continuous improvement initiatives.
8. Provide administrative and technical support to the department(s) assigned.
QUALIFICATIONS
Any combination equivalent to experience and education that would provide the required knowledge, and abilities would be qualifying. A typical way to obtain the knowledge and abilities would be:
Fellow I
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Education:
Possession of a bachelor’s degree from an accredited college or university in public administration, business administration, or in a relevant field.
Fellow II
Education:
Possession of a master’s degree from an accredited college or university in public administration, business administration, or in a relevant field.
The following requirements apply to the Fellow I and II:
License or Certificate:
Possession of a valid California Driver’s License may be required based on the assignment.
Special Requirements:
Successfully passing a background and criminal history check may be required based on the assignment.
Knowledge of:
Principles and practices of organization and public administration Practices and techniques of research, data collection, analysis, and report preparation Basic principles, methods, and practices of municipal finance, budgeting, accounting, and personnel management
Standard office practices, procedures, methods and equipment Computer applications related to work
Ability to:
Plan and conduct administrative, organizational and operational studies Research, compile and summarize varied information, evaluate alternatives and reach sound conclusions Interpret, explain and apply complex policies, regulations and procedures Prepare clear and accurate reports, correspondence, procedures and other written materials Represent the department and the City in meetings with others Coordinate, organize and prioritize work and meet critical deadlines Maintain accurate records and files
Exercise sound independent judgment within established policies and guidelines Establish and maintain effective working relationships with those contacted in the course of work Note: All employees appointed into this classification must be authorized by the City Manager and shall include the reason for the limited duration appointment in the offer letter as outlined in SMCEA Memorandum of Understanding, Section 27.6.
ADOPTED CC: 04-20-2026
REVISED CC:
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FORMER TITLES:
BARGAINING UNIT: SMCEA GENERAL UNIT
FLSA: NON-EXEMPT
DOT: NO
PRE APPT MEDICAL: YES
SAFETY SENSITIVE: NO
FORM 700: YES
JOB CODES: FELLOW I – 5487, FELLOW II – 5488
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Exhibit B
City of San Mateo – Merit Salary Schedules for Adoption by Council on April 20, 2026 201 of 11211
CITY OF SAN MATEO
CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 12 Section Name: CONSENT CALENDAR Account Number: 18-6110 File ID: 26-11192 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: Parks and Recreation Department
MEETING DATE: May 18, 2026
SUBJECT:
Recreation Program Transportation Services – Agreement
RECOMMENDATION:
Approve a one-year agreement for summer camp transportation services with ZUM Services, Inc. for an amount not to exceed $53,962.33; authorize the Parks and Recreation Director to exercise up to two one-year extensions for up to $53,962.33 each year, for a total not to exceed amount of $161,886.99 over three years; establish a contingency reserve of $24,284 and authorize the Park and Recreation Director to execute change orders or amendments within the contingency amount.
BACKGROUND:
The City will host summer camps for over 1,200 participants ages 5-14 at the Beresford Recreation Center and the Dr.
Martin Luther King Jr. Community Center. During the eight weeks of camp (June 15, 2026, through August 7, 2026), a key component will be field trips to locations such as Great America, Santa Cruz Beach Boardwalk, Coyote Point, and Oakland Zoo. Buses are needed to transport participants. City staff issued a formal request for proposal (RFP), which was posted on the City website and published twice in the San Mateo Daily Journal on Friday, March 20, 2026, and again on Friday, March 27, 2026. The Parks and Recreation Department received a total of five proposals. The selected vendor, ZUM Services Inc., can provide all services requested in the RFP scope. Four of the other responsive vendors were substantially higher in cost.
ZUM Services - $53,962.33
Pronto Corporation - $63,005.00
Epic Limousine - $81,280.00
Bus Loop - $91,400.00
Lux Bus - $104,328.00
The selected vendor has provided bus transportation for similar transportation services that serve the City‘s needs.
BUDGET IMPACT:
Funds have been budgeted in the 2026-27 operating budget.
ENVIRONMENTAL DETERMINATION:
This agreement is exempt from CEQA, because it can be seen with certainty that there is no possibility that an agreement for summer camp transportation services may have a significant effect on the environment. (CEQA Guidelines Section 15061(b)(3).)
NOTICE PROVIDED
All meeting noticing requirements were met.
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ATTACHMENTS
Att 1 – Agreement
STAFF CONTACT
Heather Murphy, Community Services Manager
[email protected]
(650) 522-7483
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AGREEMENT WITH ZUM SERVICES, INC.
FOR RECREATION PROGRAM TRANSPORTATION SERVICES
FOR
SUMMER RECREATION PROGRAMS
This Agreement, made and entered into this day of____________________, by and between the CITY OF SAN MATEO, a municipal corporation existing under the laws of the State of California ("CITY"), and Zum Services, Inc. a Delaware corporation ("CONTRACTOR"), whose address is 275 Shoreline Drive, Suite 200, Redwood City, CA 94065.
RECITALS:
A. CITY desires certain transportation services for the City of San Mateo’s Camp Mateo and Teen Summer Days programs from June to August 2026 hereinafter described.
B. CITY desires to engage CONTRACTOR to provide these transportation services by reason of its qualifications and experience for performing such services and CONTRACTOR has offered to provide the required services on the terms and in the manner set forth herein.
NOW, THEREFORE, IT IS AGREED as follows:
SECTION 1 - SCOPE OF SERVICES
.
The scope of services to be performed by CONTRACTOR under this Agreement is as described in Exhibit A to this Agreement, which is attached and incorporated by reference.
SECTION 2 - DUTIES OF CONTRACTOR
CONTRACTOR shall be responsible for the professional quality, technical accuracy and coordination of all work furnished by CONTRACTOR under this Agreement. CONTRACTOR shall, without additional compensation, correct or revise any errors or deficiencies in its work.
CONTRACTOR represents that it is qualified to furnish the services described under this Agreement.
CONTRACTOR shall be responsible for employing or engaging all persons necessary to perform the services of CONTRACTOR.
CONTRACTOR agrees to comply with the City’s minimum wage ordinance as codified in Municipal Code Chapter 5.92, which differs from the state minimum wage and includes a Consumer Price Index escalator.
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SECTION 3 - DUTIES OF CITY
CITY shall provide pertinent information regarding its requirements for the project.
CITY shall examine documents submitted by CONTRACTOR and shall render decisions pertaining thereto promptly, to avoid unreasonable delay in the progress of CONTRACTOR'S work.
SECTION 4 - TERM
The services to be performed under this Agreement shall commence on Monday, June 15, 2026, and be completed on Friday, August 7, 2026. The Director of Parks and Recreation may authorize up to two (2) one-year extensions by the City, for a total maximum of three (3) years.
SECTION 5 - PAYMENT
Payment shall be made by CITY only for services rendered and upon submission of a payment request upon completion and CITY approval of the work performed. In consideration for the full performance of the services set forth in Exhibit A, CITY agrees to pay CONTRACTOR a fee in an amount not to exceed $53,962.33 as stated in Exhibit B, attached and incorporated by reference. Payment for each one-year option to extend will be up to $53,962.33 per year, for a total not to exceed amount of $161,886.99 for three years.
SECTION 6 - TERMINATION
Without limitation to such rights or remedies as CITY shall otherwise have by law, CITY shall have the right to terminate this Agreement or suspend work on the Project for any reason, upon ten (10) days' written notice to CONTRACTOR. CONTRACTOR agrees to cease all work under this Agreement upon receipt of said written notice. Either party may terminate this Agreement at its sole discretion upon written notification to the other party of such other party’s material breach of this Agreement that is not cured within thirty (30) days of receipt of such notice. Upon termination of this Agreement, CONTRACTOR shall submit a final invoice to CITY.
SECTION 7 - OWNERSHIP OF DOCUMENTS/MATERIALS
All documents prepared by CONTRACTOR in the performance of this Agreement are and shall be the property of CITY, whether the project for which they are made is executed or not. CITY agrees that CONTRACTOR exclusively owns all right, title, interest and intellectual property rights in all materials and intellectual property created and used by CONTACTOR in connection with the performance of the services hereunder. CONTRACTOR’s name, logo and the names associated with CONTRACTOR transportation and other services are trademarks of CONTRACTOR. 205 of 11211
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SECTION 8 - CONFIDENTIALITY
All reports and documents prepared by CONTRACTOR in connection with the performance of this Agreement are confidential until released by CITY to the public. CONTRACTOR shall not make any such documents or information available to any individual or organization not employed by CONTRACTOR or CITY without the written consent of CITY before any such release.
SECTION 9 - INTEREST OF CONTRACTOR
CONTRACTOR covenants that it presently has no interest, and shall not acquire any interest, direct or indirect, financial or otherwise, which would conflict in any manner or degree with the performance of the services under this Agreement.
SECTION 10 - CONTRACTOR'S STATUS
It is expressly agreed that in the performance of the services required under this Agreement, CONTRACTOR shall at all times be considered an independent contractor as defined in Labor Code Section 3353, under control of the CITY as to the result of the work but not the means by which the result is accomplished. Nothing herein shall be construed to make CONTRACTOR an agent or employee of CITY while providing services under this Agreement.
SECTION 11 - INDEMNITY
CONTRACTOR agrees to hold harmless and indemnify CITY, its elected and appointed officials, employees, and agents from and against any and all claims, loss, liability, damage, and expense arising out of CONTRACTOR’s performance of this Agreement, except for those claims arising out of CITY’s sole negligence or willful misconduct. CONTRACTOR agrees to defend City, its elected and appointed officials, employees, and agents against any such claims. The CONTRACTOR’S duty to indemnify shall survive expiration or early termination of this Agreement.
SECTION 12 - INSURANCE
Contractor shall procure and maintain for the duration of the contract the insurance specified in Exhibit C to this Agreement.
SECTION 13 - NONASSIGNABILITY
Both parties hereto recognize that this Agreement is for the personal services of CONTRACTOR and cannot be transferred, assigned, or subcontracted by CONTRACTOR without the prior written consent of CITY.
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SECTION 14 - RELIANCE UPON SKILL OF CONTRACTOR
It is mutually understood and agreed by and between the parties hereto that CONTRACTOR is skilled in the performance of the work agreed to be done under this Agreement and that CITY relies upon the skill of CONTRACTOR to do and perform the work in the most skillful manner, and CONTRACTOR agrees to thus perform the work. The acceptance of CONTRACTOR's work by CITY does not operate as a release of CONTRACTOR from said obligation.
SECTION 15 - WAIVERS
The waiver by either party of any breach or violation of any term, covenant, or condition of this Agreement or of any provisions of any ordinance or law shall not be deemed to be a waiver of such term, covenant, condition, ordinance or law or of any subsequent breach or violation of the same or of any other term, condition, ordinance, or law. The subsequent acceptance by either party of any fee or other money which may become due hereunder shall not be deemed to be a waiver of any preceding breach or violation by the other party of any term, covenant, or condition of this Agreement or of any applicable law or ordinance.
SECTION 16 - COSTS AND ATTORNEY FEES
Attorney fees in total amount not exceeding $5000, shall be recoverable as costs (by the filing of a cost bill) by the prevailing party in any action or actions to enforce the provisions of this Agreement. The above $5000 limit is the total of attorney fees recoverable whether in the trial court, appellate court, or otherwise, and regardless of the number of attorneys, trials, appeals, or actions. It is the intent of this provision that neither party shall have to pay the other more than $5000 for attorney fees arising out of an action, or actions to enforce the provisions of this Agreement.
SECTION 17 - NON-DISCRIMINATION
CONTRACTOR warrants that it is an Equal Opportunity Employer and shall comply with applicable regulations governing equal employment opportunity. Neither CONTRACTOR nor any of its subcontractors shall discriminate in the employment of any person because of race, color, national origin, ancestry, physical handicap, medical condition, marital status, sex, or age, unless based upon a bona fide occupational qualification pursuant to the California Fair Employment and Housing Act.
SECTION 18 - MEDIATION
Should any dispute arise out of this Agreement, any party may request that it be submitted to mediation. The parties shall meet in mediation within 30 days of a request. The mediator shall be agreed to by the mediating parties; in the absence of an agreement, the parties shall each submit one name from mediators listed by either the American Arbitration Association, the State Mediation and Conciliation Service, or other agreed-upon service. The mediator shall be selected by a blind draw.
The cost of mediation shall be borne equally by the parties. Neither party shall be deemed the prevailing party. No party shall be permitted to file a legal action without first meeting in mediation and making a good faith attempt to reach a mediated settlement. The mediation process, once 207 of 11211
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commenced by a meeting with the mediator, shall last until agreement is reached by the parties but not more than 60 days, unless the maximum time is extended by the parties.
SECTION 19 - LITIGATION
CONTRACTOR shall testify at CITY's request if litigation is brought against CITY in connection with CONTRACTOR's services under this Agreement. Unless the action is brought by CONTRACTOR, or is based upon CONTRACTOR's wrongdoing, CITY shall compensate CONTRACTOR for preparation for testimony, testimony, and travel at CONTRACTOR's standard hourly rates at the time of actual testimony.
SECTION 20 - NOTICES
All notices hereunder shall be given in writing and mailed, postage prepaid, addressed as follows:
To CITY: Heather Murphy
City of San Mateo
330 W. 20th Ave
San Mateo, CA 94403
To CONTRACTOR: ZUM Services, Inc.
Attn: General Counsel
275 Shoreline Dr., Suite 200
Redwood City, CA 94065
Email: [email protected]
SECTION 21 - AGREEMENT CONTAINS ALL
UNDERSTANDINGS; AMENDMENT
This document represents the entire and integrated agreement between CITY and CONTRACTOR and supersedes all prior negotiations, representations, and agreements, either written or oral.
This document may be amended only by written instrument, signed by both CITY and CONTRACTOR.
SECTION 22 - GOVERNING LAW AND VENUE
This Agreement shall be governed by the laws of the State of California and, in the event of litigation, venue will be in the County of San Mateo.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, CITY OF SAN MATEO and ZUM SERVICES, INC. have executed this Agreement the day and year first above written.
CITY OF SAN MATEO CONTRACTOR
Joanne Magrini
Director Parks and Recreation
Date Paul Egger
Its Authorized Agent
Vice President of Charter
Services
If a Corporation, can be either 1)
President or 2) Vice President plus
an additional corporate officer
(i.e., Secretary, Treasurer) who
shall sign below.
Date
APPROVED AS TO FORM ADDITIONAL CORPORATE
OFFICER
(if necessary per the above)
Mazarin Vakharia
Assistant City Attorney
Date Elizabeth Sanchez
Executive Vice President, School
Transportation
Date
Attachments:
Exhibit A: Scope of Services
Exhibit B: Payment Rates
Exhibit C: Insurance Requirements
Exhibit D: Schedule & Rates
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EXHIBIT A
SCOPE OF SERVICES
General Overview
This RFP solicits qualified firms to provide an array of professional consultant services to the City.
Respondents to this RFP must demonstrate an understanding of the professional consultant services required, the capacity to deliver these services, and the ability to tailor services to address specific issues and situations.
Terms of Contract
The term of the contract shall be for a specific period of time, commencing upon contract execution and expiring on Friday, August 7, 2026. The contract may be extended by up to three (3) years, one year at a time, by mutual agreement of the parties.
Response Time:
The successful company will be required to have vehicles at the pick-up area(s) a minimum of 30 minutes prior to the trip. From time to time, San Mateo may require additional bus service for field trips and other transportation services, vehicles must be at the designated pick-up area(s) a minimum of 30 minutes prior to the scheduled departure.
Additions/deletions of Routes:
Although this solicitation identifies specific routes/services required, it is hereby agreed and understood that any route/service may be added or deleted to/from this contract at the option of San Mateo. When an addition to this contract is required, the successful company under this contract shall be invited to submit price quotes for these new routes/services and may be added to the contract in San Mateo’s best interest.
Prices shall be fixed and firm for initial term of contract:
If the proposer is awarded a contract under this solicitation, the prices quoted by the proposer on the Proposal Form shall remain fixed and firm during the initial term of this contract; provided however, that the company may offer incentive discounts from the fixed price to San Mateo at any time during the contractual term. Payment processes are laid out in Exhibit B.
Programs to be Serviced by Buses and Drivers (Specific days and times the buses are needed are laid out in Exhibit D):
Camp Mateo: Up to five (5) buses each week with drivers needed for eight (8) camp weeks. The camp will run from June 15, 2026, through August 7, 2026.
Teen Summer Days: Up to three (3) buses each week with drivers needed for eight (8) camp weeks.
The camp will run from June 15, 2026, through August 7, 2026.
Other recreation programs may be requested to be added within the contract term for the same quoted prices.
Buses and Drivers shall meet the following conditions:
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a. Buses shall be certified by the State meeting requirements to transport school children a minimum of fifty-five (55) passengers with radio dispatch.
b. Bus drivers and Company will meet all Federal and State rules, regulations, statutes, and ordinances, including proper driver’s license, bus certification, etc. c. Vehicle must be ADA compliant.
d. Buses must be owned and/or leased by the quoting company. Quoting company cannot subcontract services to another vendor.
e. Liability insurance will be supplied by the chosen company. Copies of current insurance forms will be supplied by the vendor.
f. Vendor shall supply a copy of the written procedures for supplying alternate buses for buses which are disabled during transport.
g. Vendor must supply recent references which are to include company name, address, and contact person with telephone number.
h. Rental fee to include all gasoline charges. All maintenance of all vehicles, including any towing charges incurred by disabled buses, will be the vendor’s responsibility. i. Any claims of damage must be reported to the Parks & Recreation Director. Any necessary repairs for the damage must be submitted in writing with cost estimated and pre-approved by the Parks & Recreation Director before repairs are started.
j. Number of hours and buses are approximations and specific numbers are dependent on other factors.
Vendor will be given as much advanced notice as possible, but not less than 24 hours. k. Radio communications between the bus drivers and the bus dispatcher must be in effect and operating at all times.
l. San Mateo reserves the right to cancel bus use for individual trips by giving 24 hours’ notice without penalty to San Mateo. Successful company should specify specific cancellation policy and who should be notified.
m. A Program Supervisor riding the bus may request changes in the bus schedule or stops due to weather conditions or emergency situations. Driver must recognize staff requests for schedule changes and emergency stops and honor them.
n. Vendor should supply a dollar per hour overtime rate. All prices shall include parking/toll charges.
Buses must stay with the group for the duration of the individual trip unless otherwise directed by the Program Supervisor.
o. All buses must stay with Parks & Recreation Camps and not go on another trip/location and leave our camp children at the program location without a bus. Bus and bus driver must stay with the camp event due to possible inclement weather or/an emergency situation. p. Bus driver and Program Supervisor shall remain in contact during each trip. Program Supervisor will supply bus driver with cell phone number and bus driver is expected to do the same.
Miscellaneous Services
1. The Consultant shall cooperate with file and program audits with state agencies and City designated auditors.
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EXHIBIT B
PAYMENT RATES
CITY reserves the right to cancel bus use for individual trips by giving 24 hours' notice without penalty.
If CONTRACTOR cancels, a minimum of 24 hours' notice will be required to the CITY. Full refund of the cost of services canceled shall be issued to the CITY within four (4) weeks.
CONTRACTOR will provide monthly invoices separated by designated program and trip date via e-mail to the Community Services Supervisor no later than two (2) weeks after the month of service is complete.
CITY will process invoices and send payment via check or Electronic Funds Transfer. Upon receipt of the invoice, if an error is found by San Mateo, CONTRACTOR will provide the process on how to remedy said error.
Prices shall remain fixed and firm during the initial term of this contract; provided, however, that the company may offer incentive discounts from the fixed price to San Mateo at any time during the contractual term.
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EXHIBIT C
INSURANCE REQUIREMENTS
MINIMUM SCOPE OF INSURANCE
Coverage shall be at least as broad as:
1. Commercial General Liability (CGL): Insurance Services Office (ISO) Form CG 00 01 12 07 covering CGL on an “occurrence” basis, including products-completed operations, personal & advertising injury, with limits no less than $2,000,000 per occurrence. If a general aggregate limit applies, either the general aggregate limit shall apply separately to this project/location or the general aggregate limit shall be twice the required occurrence limit.
2. Automobile Liability: ISO Form Number CA 00 01 covering any auto (Code 1), or if Contractor has no owned autos, hired, (Code 8) and non-owned autos (Code 9), with limit no less than $5,000,000 per accident for bodily injury and property damage.
3. Workers’ Compensation: as required by the State of California, with Statutory Limits, and Employer’s Liability Insurance with limit of no less than $1,000,000 per accident for bodily injury or disease.
4. Sexual Abuse or Molestation (SAM) Liability: If the CGL policy referenced above is not endorsed to include affirmative coverage for sexual abuse or molestation, Contractor shall obtain and maintain a policy covering Sexual Abuse and Molestation with a limit no less than $1,000,000 per occurrence or claim.
If the contractor maintains higher limits than the minimums shown above, the City requires and shall be entitled to coverage for the higher limits maintained by the contractor.
Other Insurance Provisions
The insurance policies are to contain, or be endorsed to contain, the following provisions:
Additional Insured Status
The City, its elected and appointed officials, employees, and agents are to be covered as insureds on the auto policy for liability arising out of automobiles owned, leased, hired or borrowed by or on behalf of the Contractor; and on the CGL policy with respect to liability arising out of work or operations performed by or on behalf of the Contractor including materials, parts or equipment furnished in connection with such work or operations. General liability coverage can be provided in the form of an endorsement to the Contractor’s insurance (at least as broad as ISO Form CG 20 10, 11 85 or both CG 20 10 and CG 20 37 forms if later revisions used).
Primary Coverage
For any claims related to this contract, the Contractor’s insurance coverage shall be primary insurance as respects the City, its elected and appointed officials, employees, and agents. Any insurance or selfinsurance maintained by the City, its elected and appointed officials, employees, or agents shall be excess of the Contractor’s insurance and shall not contribute with it. 217 of 11211
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Notice of Cancellation
Each insurance policy required above shall provide that coverage shall not be canceled, except after thirty (30) days’ prior written notice (10 days for non-payment) has been given to the City.
Waiver of Subrogation
Contractor hereby grants to City a waiver of any right to subrogation which any insurer of said Contractor may acquire against the City by virtue of the payment of any loss under such insurance.
Contractor agrees to obtain any endorsement that may be necessary to effect this waiver of subrogation, but this provision applies regardless of whether or not the City has received a waiver of subrogation endorsement from the insurer.
Deductibles and Self-Insured Retentions
Any deductibles or self-insured retentions must be declared to and approved by the City. The City may require the Contractor to purchase coverage with a lower deductible or retention or provide proof of ability to pay losses and related investigations, claim administration, and defense expenses within the retention.
Acceptability of Insurers
Insurance is to be placed with insurers with a current A.M. Best’s rating of no less than A:VII, unless otherwise acceptable to the City.
Verification of Coverage
Contractor shall furnish the City with original certificates and amendatory endorsements or copies of the applicable policy language effecting coverage required by this clause. All certificates and endorsements are to be received and approved by the City before work commences. However, failure to obtain the required documents prior to the work beginning shall not waive the Contractor’s obligation to provide them. The City reserves the right to require complete, certified copies of all required insurance policies, including endorsements required by these specifications, at any time. 218 of 11211
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CITY OF SAN MATEO
CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 13 Section Name: CONSENT CALENDAR Account Number: 10-1311 File ID: 26-11201 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: City Clerk's Office
MEETING DATE: May 18, 2026
SUBJECT:
Peninsula Clean Energy Name Change to Westlight Energy — Ordinance Adoption RECOMMENDATION:
Adopt an Ordinance to amend San Mateo Uncodified Ordinance No. 2016 - 1 authorizing the implementation of Community Choice Aggregation Program to address the name change.
BACKGROUND:
On May 4, 2026, the City Council introduced an Ordinance to amend the San Mateo Uncodified Ordinance No. 2016 – 1, which authorized the implementation of a Community Choice Aggregation Program, to reflect the agency’s name change from Peninsula Clean Energy to Westlight Energy.
If adopted, the Ordinance will become effective 30 days after adoption.
BUDGET IMPACT:
There is no fiscal impact.
ENVIRONMENTAL DETERMINATION:
This Ordinance adoption is not a project subject to CEQA, because it is an organizational or administrative activity that will not result in direct or indirect physical changes in the environment. (CEQA Guidelines Section 15378(b)(5).)
NOTICE PROVIDED
All meeting noticing requirements were met.
ATTACHMENTS
Att 1 – Proposed Ordinance
STAFF CONTACT
Chantal Eaton, Deputy City Clerk
[email protected]
(650) 522-7044
222 of 11211
CITY OF SAN MATEO
DRAFT ORDINANCE
Amending Uncodified Ordinance No. 2016-1 Authorizing the Implementation of a Community Choice Aggregation Program to Remove Reference to Peninsula Clean Energy Due to the Name Change to Westlight Energy
WHEREAS, on January 4, 2016, the City entered into a Joint Powers Agreement (JPA) with the County of San Mateo and other cities establishing the Peninsula Clean Energy Authority (PCE); and WHEREAS, under the JPA, agency members may participate in PCE’s Community Choice Aggregation Program (CCA) ; and
WHERAS, the City adopted Ordinance No. 2016-1 to authorize the implementation of CCA pursuant to California Public Utilities Code Section 366.2; and
WHEREAS, Ordinance No. 2016-1 specifically refers to the CCA program of PCE; and WHEREAS, PCE has undergone a legal name change to Westlight Energy; and WHEREAS, this proposed Ordinance amends Ordinance No. 2016-1 to specify the City’s continued participation in a CCA program but without specifically referring to the program name.
NOW, THEREFORE, THE COUNCIL OF THE CITY OF SAN MATEO ORDAINS AS FOLLOWS:
Section 1. The above recitations are true and correct and material to this Ordinance.
Section 2. Ordinance No. 2016-1 is amended as follows:
Section 2 of Ordinance No. 2016-1 is hereby amended to state:
Authorization To Implement a Community Choice Aggregation Program. Based upon the forgoing, and in order to provide business and residents within the City of San Mateo with a choice of power providers and with the benefits described above, the City Council of the City of San Mateo ordains that it shall implement a community choice aggregation program within its jurisdiction by participating as a group with the County of San Mateo and other cities and towns as described above in the Community Choice Aggregation program administered by the Joint Powers Authority, as generally described in the Joint Powers Agreement.
Section 3. Environmental Determination. This Ordinance amendment is not a project subject to CEQA, because the amendment of Ordinance No. 2016-1 to update the Peninsula Clean Energy’s legal name change is an administrative activity that will not result in direct or indirect physical changes in the environment. (CEQA Guidelines Section 15378(b)(5).)
Section 4. Severability. In the event any section, clause or provision of this Ordinance shall be determined invalid or unconstitutional, such section, clause or provision shall be deemed severable and all other sections or 223 of 11211
portions hereof shall remain in full force and effect. It is the intent of the City Council that it would have adopted all other portions of this Ordinance irrespective of any such portion declared to be invalid or unconstitutional.
Section 5. Publication. This Ordinance shall be in full force effective 30 days after its adoption, and shall be published and posted as required by law.
Section 6. Legislative History and Effective Date. This Ordinance was introduced on Clerk to complete., and adopted on Clerk to complete., and shall be effective thirty days after its adoption. 224 of 11211
CITY OF SAN MATEO
CITY OF SAN MATEO
Agenda Report
City Hall
330 W. 20th Avenue
San Mateo CA 94403
www.cityofsanmateo.org
Agenda Number: 14 Section Name: CONSENT CALENDAR Account Number: 25-3112 File ID: 26-11200 TO: City Council
FROM: Alex Khojikian, City Manager
PREPARED BY: City Clerk's Office
MEETING DATE: May 18, 2026
SUBJECT:
Historic Policy Update — Ordinance Adoption
RECOMMENDATION:
Adopt an Ordinance to amend San Mateo Municipal Code Chapter 27.66 “Historic Preservation” of the San Mateo Municipal Code to update the City’s historic preservation regulations to be consistent with General Plan 2040, align with industry best practices and establish processes and guidance for identifying, designating, and treating historic resources and districts at the local level; and adopt an Ordinance to add Chapter 2.23 to the San Mateo Municipal Code to establish the Historic Resources Commission.
BACKGROUND:
On May 4, 2026, the City Council introduced an Ordinance to amend the San Mateo Municipal Code Chapter 27.66 “Historic Preservation” to update the City’s regulations to be consistent with the General Plan 2040 and to align with industry bet practices. Additionally, City Council introduced an Ordinance to add Chapter 2.23 to the San Mateo Municipal Code to establish the Historic Resources Commission, composed of five (5) Commissioners and two (2) additional Youth Commissioners appointed by Council.
During the meeting, the City Council provided feedback and proposed edits to both Ordinances related to the composition and responsibilities of the Historic Resources Commission, clarification of procedural language, and implementation of the updated historic preservation regulations. For example, the Historic Preservation Ordinance was revised to include a procedure whereby the Council could nominate properties listed on the 1989 Historic Building Survey and, following property owner notification and a public hearing, add the property to the San Mateo Historic Resources Inventory. While not codified, the Council by motion also directed that the 1989 Historic Building Survey be updated.
Staff has incorporated the requested revisions into the Ordinances, and versions with tracked changes are attached to this report for reference.If adopted, both Ordinances will become effective 30 days after adoption.
BUDGET IMPACT:
There is no budget impact.
ENVIRONMENTAL DETERMINATION:
The California Environmental Quality Act (CEQA) applies only to activities that may cause a direct or reasonably foreseeable indirect physical change in the environment. The Historic Preservation Ordinance and Historic Resources Commission Ordinance will update and clarify the City’s policies and processes surrounding historic preservation, but will not materially change or expand their applicability. Therefore, the proposed project meets the criteria of CEQA Guidelines Section 15061(b)(3) (Common Sense Exemption) and, pursuant to this exemption, it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment and is exempt from CEQA. 225 of 11211
CITY OF SAN MATEO
The Ordinance to establish the Historic Resources Commission is also exempt pursuant to Section 15378(b)(5), as this is an administrative activity that will not result in direct or indirect physical changes in the environment. Finally, the Historic Preservation Ordinance is exempt under Section 15308 (Class 8 – Actions by Regulatory Agencies for Protection of the Environment) because the Ordinance regulates how properties can be modified, thereby protecting historic resources through maintaining the existing built environment.
NOTICE PROVIDED
All meeting noticing requirements were met.
ATTACHMENTS
Att 1 – Proposed Ordinance – Historic Preservation
Att 2 – Proposed Ordinance – Historic Resources Commission Att 3 – Proposed Ordinance – Historic Preservation (Tracked changes) Att 4 – Proposed Ordinance – Historic Resources Commission (Tracked changes) Att 5 – Public Comment
STAFF CONTACT
Chantal Eaton, Deputy City Clerk
[email protected]
(650) 522-7044
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CITY OF SAN MATEO
DRAFT ORDINANCE
AN ORDINANCE AMENDING ZONING CODE CHAPTER 27.66 (HISTORIC PRESERVATION) TO ALIGN WITH GENERAL PLAN 2040 AND STATE LAW, AND IMPROVE CLARITY AND CONSISTENCY IN PROCEDURES, AND FIND THE ORDINANCE EXEMPT FROM FURTHER ENVIRONMENTAL REVIEW PURSUANT TO SECTIONS 15061(B)(3) AND 15308 OF THE CEQA GUIDELINES
WHEREAS, the City of San Mateo is authorized under the State of California to regulate land use and protect historic and architectural resources for the public health, safety, and general welfare; and WHEREAS, in November 1993 the City of San Mateo adopted Ordinance No. 1993-21, establishing Chapter
27.66 Downtown Historic Preservation, which was established to define the downtown historic district; and WHEREAS, in June 1995, the City of San Mateo adopted Ordinance No. 1995-13, amending Municipal Code Chapter 27.66 to be remade as Historic Preservation and expanding the provisions citywide; and WHEREAS, San Mateo’s General Plan 2040 includes a goal to support preservation of historic and culturally important resources to maintain San Mateo’s special identity and continuity with the past, and policies and actions to implement this goal; and
WHEREAS, updates to the City’s Historic Preservation Ordinance are necessary to reflect current best practices in preservation planning, improve clarity and consistency in procedures, and ensure alignment with state law; and
WHEREAS, the amendments strengthen provisions related to designation criteria, historic districts, owner consent thresholds, reviews for alterations, and administrative procedures; and WHEREAS, the Ordinance is exempt from the requirements of the California Environmental Quality Act (CEQA) pursuant to Sections 15061(b)(3) (Common Sense Exemption) and Section 15308 (Actions by Regulatory Agencies for Protection of the Environment); and
WHEREAS, on April 14, 2026, the Planning Commission held a duly noticed public hearing, received all written and oral public comments, and recommended that the City Council adopt the proposed Ordinance to amend Chapter 27.66 (Historic Preservation); and
WHEREAS, on May 4, 2026, the City Council held a duly noticed public hearing, received all written and oral public comments, and considered the proposed Ordinance to amend Chapter 27.66 (Historic Preservation).
NOW, THEREFORE, THE COUNCIL OF THE CITY OF SAN MATEO ORDAINS AS FOLLOWS:
Section 1. Section 27.66.010 of the San Mateo Municipal Code is amended as follows:
27.66.010 Purpose and Intent
The intent of the Historic Preservation Ordinance is to promote the protection, enhancement, preservation, and use of historic resources within San Mateo, recognizing they are of economic, cultural, and 227 of 11211
aesthetic benefit to the community. It is further recognized that the economic, cultural and aesthetic character of the City will be enhanced by honoring its heritage and ensuring that future generations can experience and appreciate it. The purposes of this chapter are as follows:
(a) Designate, preserve, protect, and enhance the City’s historic resources. (b) Foster public awareness and encourage public understanding of the City’s past through the recognition and use of historic and cultural resources. (c) Preserve a variety of architectural styles, patterns of development, and design trends that reflect phases of the City’s history and encourage complementary design and construction to inspire a diverse and livable urban environment.
(d) Enhance the visual and aesthetic character of the City by encouraging the preservation and maintenance of historic resources.
(e) Avoid demolition of the City’s historic resources, where feasible, through preservation, rehabilitation, or other available and appropriate alternatives.
(f) Fulfill the City’s responsibility under state and federal regulations, including the California Environmental Quality Act and Section 106 of the National Historic Preservation Act.
Section 2. Section 27.66.020 of the San Mateo Municipal Code is amended as follows:
27.66.020 Definitions
(a) Alteration, Major. Any significant changes or modifications to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory, including but not limited to changes to or modifications of structural, architectural details or visual characteristics; additions; and placement or removal of any significant objects affecting the significant exterior visual and/or historical qualities of the property.
Examples include:
(1) Relocation of a Landmark building, or removal of a character-defining feature of a Landmark building. (2) Any project that requires a permit that significantly alters or changes the street-facing elevation or side elevation of a Landmark building, including major changes to windows and doors and their openings, the application of new exterior cladding or coating that changes the appearance, design, or texture of a property, and the addition of dormers and other architectural features. (3) Any addition of square footage to a Contributor building elevation that faces a street. (4) New construction on a property containing a Landmark or Contributor building that could affect its visual appearance.
(b) Alteration, Minor. An alteration that has been determined to have limited potential to affect the character-defining features and architectural style of a Landmark or Contributor within a Historic District listed 228 of 11211
in the San Mateo Historic Resources Inventory. In no case shall a Minor Alteration involve actions including new construction or full or partial demolition of a Landmark structure. Examples include:
(1) Any demolition or removal of insignificant exterior features of a Landmark building, including additions, windows, doors, and exterior siding material that is non-original or otherwise lacking in historic integrity.
(2) Any project that requires a permit that does not substantially change the exterior characterdefining features of a Landmark building, including re-roofing in a different material that replicates the existing or original roofing, replacement windows and doors matching the design and materials of the existing or original windows and doors (when it is infeasible to repair) and minor additions on secondary or rear elevations.
(3) In Historic Districts listed in the San Mateo Historic Resources Inventory, demolition and alteration of detached garages and other accessory structures built within the period of significance on a Contributor property.
(4) New construction of detached garages or other accessory structures on a Landmark property.
(5) Any alteration determined minor by the Community Development Director. (c) Certificate of Appropriateness. The administrative approval document issued by the City to approve an alteration to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory.
(d) Character-Defining Feature. Character-defining features are visual aspects, physical qualities, and characteristics of a historic resource that help to convey its significance and may include the building’s shape, structural details, materials, and decorative features. (e) Construction. The act of rebuilding or expanding an existing building or structure or the erection of a new principal or accessory building or structure on a property. (f) Contributing Resource or Contributor. A building, structure, site, or object within a Historic District listed in the San Mateo Historic Resources Inventory that retains enough of its original location, setting, design, materials, workmanship, feeling, and association to convey the district's historical or architectural significance.
The resource contributes to the designated district's historical significance and dates to its period of significance. (g) Demolition. The complete destruction or removal of a building, structure, or improvement, removal of more than 50 percent of the perimeter walls, or substantial removal of a structural wall of a street-facing elevation of a structure or building that may have an adverse effect on the significance of a property. (h) Historic District. An area containing a concentration of historic buildings, structures, sites, objects, or other resources that are unified historically, culturally, or architecturally. A historic district may contain both “contributing” and “non-contributing” resources.
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(i) Historic Resource. Includes, but is not limited to, any object, building, structure, site, area, place, sign, district, or landscape feature which is historically, culturally, architecturally and/or archaeologically significant.
Historic resources may also include, but are not limited to, resources:
(1) Eligible for or listed in the National Register of Historic Places; (2) Eligible for or listed in the California Register of Historical Resources; (3) Eligible for or listed in the San Mateo Historic Resources Inventory; (4) Identified in the 1989 Historic Building Survey Report. (j) Historic Resources Evaluation (HRE). A historic resources evaluation (HRE) is a report, prepared by a qualified professional, which documents, identifies, and evaluates, based on the appropriate evaluative criteria, potential historic resources, including buildings, structures, objects, and districts, for their eligibility for designation.
(k) Improvement. Any building, structure, landscape feature, or object physically located on real property or that constitutes a physical addition or physical alteration of real property or any part of such alteration.
(l) Integrity. The ability of a property, structure, site, or building to convey its identity through its physical features and how they relate to its historic context and the basis of its significance. A measure of integrity is not the same as an assessment of condition. (m) Landmark. Individual resource listed in the San Mateo Historic Resources Inventory. (n) Non-contributing Resource. A building, structure, site, or object within a historic district that does not possess significant qualifications or characteristics of a contributing resource due to such factors as age or level of alteration, but which has been included within the geographic boundary of a historic district. (o) Owner. The person or entity (public or private) appearing on the last equalized assessment roll of the County of San Mateo or person/entity providing proof of ownership. (p) Qualified Professional. An individual who meets the Secretary of the Interior’s Professional Qualification Standards (36 CFR Part 61, Appendix A) in history, architectural history, or historic architecture. (q) Routine Maintenance. Any work done for the purpose of preventing deterioration, decay, or damage or to maintain a property’s existing condition. Examples include:
(1) Painting;
(2) Ordinary maintenance and repair which does not require a building permit; (3) Landscaping, including sprinkler work, that does not affect a character-defining feature; and (4) Paving work that does not affect a character-defining feature. 230 of 11211
(r) San Mateo Historic Resources Inventory. A list of individual Landmarks and Historic Districts in San Mateo, designated by the City under the provisions of this chapter. (s) Secretary of the Interior’s Standards for Rehabilitation. The Secretary of the Interior’s Standards for Rehabilitation, codified in 36 CFR, Part 68, serve as the guidance for work on historic resources.
Section 2. Section 27.66.030 of the San Mateo Municipal Code is amended as follows:
27.66.030 San Mateo Historic Resources Inventory
The San Mateo Historic Resources Inventory is the official list of locally designated historic resources and includes:
(a) Landmarks designated pursuant to the procedure set forth in Section 27.66.060. (b) Historic Districts designated pursuant to the procedure set forth in Section 27.66.070. (c) Historic Districts and Landmarks locally designated by resolution as of the effective date of this ordinance.
Section 3. Section 27.66.040 of the San Mateo Municipal Code is amended as follows:
27.66.040 Designation Criteria
Prior to approval for listing in the San Mateo Historic Resources Inventory, the City Council shall find that the historic resource satisfies one or more of the criteria outlined below, and retains its historic integrity. (a) Is associated with events that have made a significant contribution to the broad patterns of San Mateo’s or California’s history and cultural heritage; or (b) Is associated with the lives of persons or communities important to San Mateo’s or California’s past; or
(c) Embodies the distinctive characteristics of a type, period, region, or method of construction, or represents the work of an important creative individual, or possesses high artistic values; or (d) Has yielded, or may be likely to yield, information important to prehistory or history.
Section 4. Section 27.66.050 of the San Mateo Municipal Code is amended as follows:
27.66.050 Eligibility Requirements for Listing
(a) Landmarks. To be eligible for consideration as a Landmark, the resource must be at least fifty (50) years old and meet at least one of the criteria outlined in Section 27.66.040. (b) Historic District. To be eligible for consideration as a Historic District, at least seventy-five percent (75%) of the buildings in the proposed historic district (excluding accessory buildings) must be at least fifty (50) 231 of 11211
years old and otherwise meet the criteria of Section 27.66.040. In addition, no more than twenty-five percent (25%) of the buildings in the proposed district may be non-contributing. Non-contributing buildings may be included as part of a historic district only to the extent that they are determined to be essential to the geographic integrity of the district. The Historic Resources Commission shall make determinations identifying non-contributing buildings as part of the review process.
Section 6. Section 27.66.060 of the San Mateo Municipal Code is amended as follows:
27.66.060 Procedure for Designating Landmarks
(a) Application for Landmarks. The City shall make available an application for listing historic resources in the San Mateo Historic Resources Inventory.
(1) Owner Consent. Except as provided in subsection (5), nominations to add a Landmark to the San Mateo Historic Resources Inventory shall be made only by application of the property owner or property owners representing a majority or controlling interest on which the resource is located. The property owner may request that a resource be listed in the San Mateo Historic Resources Inventory by submitting a completed application to the Planning Division. No application shall be accepted without the written consent of the property owner.
(2) Application Review. Landmark applications shall be reviewed by the Planning Division to assess if all application materials are provided and if the application is complete, including sufficient information to support the finding that the resource meets the requirements for designation set forth in Section 27.66.050. (3) Designation Recommendation. Landmark applications, once deemed complete by the Planning Division, shall be reviewed by the Historic Resources Commission at a public meeting. The Historic Resources Commission shall determine whether the resource meets one (1) or more criteria for approval as a historical resource to be listed on the San Mateo Historic Resources Inventory and, based on this determination, provide a recommendation to the City Council. The Historic Resources Commission shall adopt a resolution stating its recommendation, focusing on the criteria set forth in Section 27.66.040, and incorporating its reasons for the recommendation.
(4) Designation Action. Following the recommendation from the Historic Resources Commission, the City Council shall hold a public hearing to consider the application. Following the public hearing, the City Council shall adopt a resolution to approve or deny the application based on the criteria set forth in Section 27.66.040. If the application is approved by City Council, the resource shall be added to the San Mateo Historic Resources Inventory.
(5) 1989 Historic Building Survey. The City Council may nominate properties listed on the 1989 Survey for addition to the San Mateo Historic Resources Inventory. Following property owner notification and documentation to support findings, the City Council shall hold a public hearing to consider a resolution to approve the designation based on the criteria set forth in Section 27.66.040. If the application is approved by City Council, the resource shall be added to the San Mateo Historic Resources Inventory. 232 of 11211
Section 7. Section 27.66.070 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.070 Procedure for Designating Historic Districts
(a) Application for Historic District Designation. The City shall make available an application for listing a Historic District in the San Mateo Historic Resources Inventory. The application will include a two-part process. (1) Preliminary Application. Nominations to add Historic Districts to the San Mateo Historic Resources Inventory shall be made by a property owner or group of property owners in a potential historic district.
Nominations to add Historic Districts to the San Mateo Historic Resources Inventory will first need to complete a preliminary application. This application shall include the following:
(A) Application Form. The preliminary application form and requisite support materials outlined in the application instructions.
(B) Demonstration of Owner Interest. Demonstration of owner interest shall include written certification that at least twenty percent (20%) of property owners within the potential historic district support the application for designation, with one (1) vote allocated per property. (C) Preliminary Documentation. The preliminary application shall also include a map of the proposed historic district and photographs of properties to be included in the Historic District. (2) Preliminary Application Review. Preliminary applications shall be reviewed by the Planning Division to assess if all application materials are provided and if the application is complete, including satisfactory demonstration of owner consent.
(3) Community Meeting. Once the Preliminary Application has been deemed complete, the applicant shall host a community meeting prior to any public meeting to consider the designation. The purpose and intent of the community meeting is to provide information about the proposed Historic District and designation process. Mailed notice shall be provided to every owner of property as listed in San Mateo County’s most recent property ownership roll within the proposed Historic District. Such notice shall be provided at least 10 days prior to the community meeting date.
(4) Formal Application. Once a preliminary application has been deemed complete and the community meeting has been held, the applicant may submit a formal application. This application shall include the following:
(A) Application Form. The formal application form and requisite support materials outlined in the application instructions.
(B) Sufficient information to support the finding that the Historic District meets the requirements for designation set forth in Section 27.66.050.
(5) Formal Application Review. Formal applications shall be reviewed by the Planning Division to assess if all application materials are provided and if the application is complete, including sufficient 233 of 11211
information to support the finding that the Historic District meets the designation criteria in Section
27.66.040 and the eligibility requirements for designation in Section 27.66.050. (b) Owner Consent. Evidence of support for the potential designation from at least sixty percent (60%) of property owners in the proposed historic district shall be provided for the Formal Application to be deemed complete. To confirm owner consent, the City shall mail a survey to all property owners in the proposed historic district, to the name and address listed in San Mateo County’s most recent property ownership assessment roll, via certified mail seeking their approval to be included in the proposed historic district. Owner consent will be confirmed when the City has received surveys from at least sixty percent (60%) of property owners who express support for the historic district designation.
(c) Designation Recommendation. Once the formal application has been deemed complete by the Planning Division and owner consent confirmed, it shall be reviewed by the Historic Resources Commission at a public meeting. The Historic Resources Commission shall determine whether the historic district meets one (1) or more criteria to be listed on the San Mateo Historic Resources Inventory and, based on this determination, shall recommend to the City Council that the application be approved or denied. The Historic Resources Commission shall adopt a resolution stating its recommendation, focusing on the criteria set forth in Section
27.66.040, assessing the historical significance of those contributing resources identified in the proposed district, affirming that no more than twenty-five percent (25%) of the buildings in the district are noncontributing, and incorporating its reasons in support or denial of the application. Mailed notice shall be provided to property owners within the Historic District at least 10 days prior to the Historic Resources Commission meeting date.
(d) Designation Action. Following the recommendation from Historic Resources Commission, the City Council shall hold a public hearing to consider the application. Following the public hearing, the City Council shall adopt a resolution to approve or deny the application based on the criteria set forth in Section 27.66.040. If the application is approved by City Council, the Historic District shall be added to the San Mateo Historic Resources Inventory. Mailed notice of the public hearing shall be provided to property owners of properties within the Historic District at least 10 days before the meeting date. Mailed notice of the decision shall be provided to property owners of properties within the Historic District within 30 days following the decision.
Section 8. Section 27.66.080 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.080 Criteria and Procedure for Removing a Landmark or Historic District Designation (a) The City Council may approve removal of a Landmark from the San Mateo Historic Resources Inventory by one of the following methods:
(1) Application for Removal. Removal of a Landmark designation may be sought by the owner of a property on which a Historic Resource is located. Applications must be accompanied by such documentation as required by the Planning Division and demonstrate that the Landmark does not possess, or no longer possesses, a minimum level of significance necessary for listing as outlined in Section 27.66.040. 234 of 11211
(2) Removal Following Destruction. The property owner or the City may seek removal of designation to the San Mateo Historic Resources Inventory where a Landmark has been destroyed. (b) Delisting Recommendation. Upon completion of an application to remove a Landmark, the request shall be reviewed by the Historic Resources Commission at a public meeting. The Historic Resources Commission shall determine if the Historic Resource meets the conditions to warrant removal and provide a recommendation to City Council that the application be approved or denied. (c) Delisting Action. Upon receipt of a recommendation from the Historic Resources Commission to remove a Landmark from the San Mateo Historic Resources Inventory, the City Council will hold a public hearing on the application. If the City Council approves an application, such approval shall be made by resolution. (d) Historic District Delisting. The process to remove a Historic District from the San Mateo Historic Resources Inventory shall follow the same process that is required to designate a Historic District as outlined in Section 27.66.070.
Section 9. Section 27.66.090 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.090 Review Required
(a) Historic Resource. No building permit that includes an exterior facade modification, exterior alteration, or building addition involving an individually eligible historic resource shall be issued until a planning application has been approved in accordance with the provisions of Chapter 27.08 of this Title. (b) Landmark or Contributor. No building permit for a Major or Minor Alteration to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory shall be issued until a Certificate of Appropriateness has been approved in accordance with the provisions of Section 27.66.100 of this Chapter.
(c) Exemptions. Review pursuant to (a) and (b) of this section shall not be required when preempted by State Law.
Section 10. Section 27.66.100 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.100 Certificate of Appropriateness
(a) Applicability. A Certificate of Appropriateness is required for any alteration to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory. In approving a Certificate of Appropriateness, conditions or restrictions may be imposed as necessary or appropriate to ensure that the integrity of the resource is maintained.
(b) Historic Resources Commission Review. The Historic Resources Commission has the authority to review and approve, conditionally approve, or disapprove Certificates of Appropriateness for Major Alterations to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory. 235 of 11211
(1) Design Standards. The Secretary of the Interior’s Standards for Rehabilitation as amended from time to time are incorporated by this reference. Work proposed shall be in compliance with these 236 of 11211
standards. Where applicable, locally adopted design standards or guidelines shall apply in addition to the Secretary of the Interior’s Standards for Rehabilitation. (c) Zoning Administrator Review. The Zoning Administrator has the authority to review and approve, conditionally approve, or disapprove Certificates of Appropriateness for Minor Alterations to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory, provided that the projects do not result in any significant impacts pursuant to the California Environmental Quality Act (CEQA). (d) Exemptions. A Certificate of Appropriateness is not required for Routine Maintenance of any Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory, so long as maintenance and repair does not involve change in exterior design, material, or appearance. A Certificate of Appropriateness is not required for construction, reconstruction, alteration, or demolition that the Building Official certifies is required to protect public health or safety because of an unsafe or dangerous condition. (e) Economic Hardship. At the time of an application for a Certificate of Appropriateness, the applicant may apply for an Economic Hardship Exception. The application shall include proof of economic hardship from the owner of the property, and documents and/or testimony to substantiate a claim of economic hardship as required by the Community Development Director. The approval of an Economic Hardship Exception shall be based on the findings that:
(1) The owner of the property is qualified as low-income or very-low income; and (2) Denial of the Economic Hardship Exception would deprive the owner of all reasonable use of, or economic return on, the designated resource; or
(3) Denial of the Economic Hardship Exception would cause the owner to suffer unreasonable damage in comparison to the benefit conferred to the community by the designated resource. (f) Appeals. The final decision of the Zoning Administrator to approve, conditionally approve, or disapprove a Certificate of Appropriateness is appealable to the Historic Resources Commission. The decision of the Historic Resources Commission is appealable to the City Council. Appeals shall be processed pursuant to Chapter 27.08 (Rules of Procedures).
Section 5. Section 27.66.110 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.110 Demolition
(a) Demolition. Any request for demolition of a Landmark or a Contributor within a Historic District listed in the San Mateo Historic Resources Inventory, or an eligible historic resource shall be processed as a planning application as described in Chapter 27.08. As part of this planning application, a Historic Resource Evaluation and/or a report by a civil or structural engineer or architect licensed by the State of California shall be submitted identifying the general condition of the building, all health and safety code deficiencies, corrective measures needed to alleviate these deficiencies, and the cost of such corrective measures. 237 of 11211
(b) Other regulations. All demolitions shall conform with the provisions of Chapter 23.10 Earthquake Hazard Reduction in Existing Buildings and Section 23.06.035 Demolition Permits-Conditions. 238 of 11211
Section 6. Section 27.66.120 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.120 Design Guidelines
In addition to the Certificate of Appropriateness requirements outlined above, all exterior modifications of individually eligible and contributor buildings in the Downtown Retail Core subarea of the Downtown Area Plan shall conform with the Downtown Retail Core and Downtown District Design Guidelines.
Section 7. Section 27.66.130 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.130 Incentives for Preserving Historic Resources
To foster preservation and encourage participation in the City’s historic preservation efforts, the following incentives are available to Landmarks or Contributors within a Historic District listed in the San Mateo Historic Resources Inventory:
(a) State Historical Building Code. Any alteration made for preservation, rehabilitation, restoration, or relocation of such properties shall be made according to the requirements of the state historical building code pursuant to the California Health and Safety Code Section 18950, et seq. (b) Mills Act. The City Council may authorize the use of contracts pursuant to California Government Code Section 50280 et. seq., also known as the Mills Act. Such contracts may be entered into at the sole discretion of the City Council based on the recommendation of the Historic Resources Commission for the specific intent to promote the continued preservation of historic properties. (c) Additional Incentives. The City Council may authorize the use of additional incentives, as appropriate, to encourage the preservation, reuse, and rehabilitation of the City’s historic resources.
Section 8. Section 27.66.140 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66. 140 Duty to Keep in Good Repair
The owner of a resource listed in the San Mateo Historic Resources Inventory shall keep in good repair the exterior portions of all such buildings, structures, or improvements, and all interior portions thereof whose maintenance is necessary to prevent deterioration of any exterior improvement or essential exterior architectural or character-defining features. They shall also maintain properties in compliance with San Mateo Municipal Code Chapter 7.14 and the protective treatment standards of the International Property Maintenance Code.
Section 9. Section 27.66.150 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.150 Enforcement and Penalties
(a) Time to Correct. Prior to assessment or initiation of any penalty for any violation of this chapter, the Zoning Administrator shall provide written notice of noncompliance to property owners. Notice shall be sent by certified and regular mail. Following mailing of the notice, property owners shall have 30 calendar days to 239 of 11211
correct the violation or to inform the City that there is a financial hardship, or why an extension is warranted.
Additional time to correct the violation may be allowed where the property owner is exercising due diligence in acting to correct noticed violations. The Zoning Administrator shall have the authority to place reasonable and/or necessary conditions on such an extension to ensure timely correction of the violation. (b) Work Stoppage. In addition to any other fines, penalties or enforcement provisions set forth in this chapter, failure to comply with an approved application shall constitute grounds for immediate stoppage of the work involved in the noncompliance until the matter is resolved. (c) Violation Penalty. In addition to the foregoing remedies, and any other remedies available by law, the City Attorney may enforce the provisions of this article by seeking injunctive relief to restrain or enjoin or to cause the correction or removal of any violation of this chapter.
Section 10. Environmental Determination. In accordance with California Environmental Quality Act (CEQA) Guidelines, this Ordinance is exempt under Section 15061(b)(3) (Common Sense Exemption) because it will update and clarify the City’s policies and processes surrounding historic preservation, but will not materially change or expand the applicability of the Ordinance or the properties subject to the Ordinance’s requirements.
Further the Ordinance is exempt under Section 15308 (Actions by Regulatory Agencies for Protection of the Environment) because it regulates how properties can be modified, thereby protecting historic resources through maintaining the existing built environment. Therefore, pursuant to these exemptions, it can be seen with certainty that there is no possibility that the Ordinance may have a significant effect on the environment, and is exempt from CEQA review.
Section 11. Severability. In the event any section, clause or provision of this ordinance shall be determined invalid or unconstitutional, such section, clause or provision shall be deemed severable and all other sections or portions hereof shall remain in full force and effect.
Section 12. Publication. This Ordinance shall be published in summary in a newspaper of general circulation, posted in the City Clerk's Office, and posted on the City's website, all in accord with Section 2.15 of the City Charter.
Section 13. Legislative History and Effective Date. This ordinance was introduced on May 4, 2026, and adopted on ____________, and shall be effective 30 days after its adoption.
Place attachments here
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CITY OF SAN MATEO
DRAFT ORDINANCE
AN ORDINANCE ADDING SAN MATEO MUNICIPAL CODE CHAPTER 2.23 TO ESTABLISH THE HISTORIC
RESOURCES COMMISSION
WHEREAS, the City of San Mateo is authorized under the State of California to regulate land use and protect historic and architectural resources for the public health, safety, and general welfare; and WHEREAS, the City’s Historic Preservation Ordinance (Chapter 27.66) was updated to reflect current best practices in preservation planning, align with state law and implement General Plan 2040; and WHEREAS, the updated Historic Preservation Ordinance included the establishment of a Historic Review Commission to function as the Ordinance’s review body.
NOW, THEREFORE, THE COUNCIL OF THE CITY OF SAN MATEO ORDAINS AS FOLLOWS:
Section 1. Chapter 2.23 of the San Mateo Municipal Code is added to Title 2 as follows:
Chapter 2.23
Historic Resources Commission
2.23.010 Organization
The Historic Resources Commission shall consist of no more than five members appointed by the Council, and two non-voting youth advisory members who must be at least 13 years old, and no more than 17 years old at the time of appointment ("Youth Commissioners"). Youth Commissioners must present written documentation of parental or guardian consent to be considered for appointment. Youth commissioners shall serve only in an advisory capacity and shall not count towards a quorum of the commission. In making appointments, the Council shall prioritize appointing applicants who are professionals in the discipline of history, architectural history, planning or a related field, licensed architects or engineers specifically qualified by reason of training or experience in building rehabilitation, accredited green building or construction management professionals, or those who demonstrate special interest and experience in the City’s history.
Each member of the Historic Resources Commission shall serve at the pleasure of Council and for a term of four years, or until the appointment and qualification of a successor, except that the initial terms of the first members appointed shall be determined by lot at their first meeting so that each year at least one term will expire. Thereafter, all appointments shall be for a term of four years. No member shall be eligible for reappointment after serving two consecutive four-year terms. Each Youth Commissioner shall serve at the pleasure of the Council for a term of one year and until the appointment and qualification of a successor. Youth Commissioners may be reappointed for one additional one-year term.
2.23.020 Meetings
The Historic Resources Commission shall elect a chair and vice-chair to serve at the pleasure of the Commission. The Commission may adopt reasonable rules and regulations for the conduct of its business. A 241 of 11211
regular time and place of meetings shall be established and adhered to in the manner of holding public meetings for legislative bodies in the state. All meetings shall be open to the public unless by law otherwise provided.
2.23.030 Powers and Duties
The Historic Resources Commission shall have the following powers and duties:
(a) To recommend to the City Council, as provided in Chapter 27.66:
(1) The approval or disapproval of applications for Landmarks. (2) The approval or disapproval of applications for Historic Districts. (3) The approval or disapproval of applications to remove a Landmark or Historic District from the San Mateo Historic Resources Inventory.
(4) The approval or disapproval of applications for Mills Act contracts. (b) To review and approve or disapprove applications, in whole or part, for Certificates of Appropriateness pursuant to Chapter 26.66.
(c) To perform any other functions that may be designated or assigned by the City Council.
Section 2. Environmental Determination. In accordance with California Environmental Quality Act (CEQA) Guidelines, section 15378(b)(5), this action is an administrative activity that will not result in direct or indirect physical changes in the environment. This action is also exempt pursuant to CEQA Guidelines section 15061(b)(3) because it can be seen with certainty that there is no possibility that establishing a Historic Resources Commission may have a significant effect on the environment.
Section 3. Severability. In the event any section, clause or provision of this ordinance shall be determined invalid or unconstitutional, such section, clause or provision shall be deemed severable and all other sections or portions hereof shall remain in full force and effect.
Section 4. Publication. This Ordinance shall be published in summary in a newspaper of general circulation, posted in the City Clerk's Office, and posted on the City's website, all in accord with Section 2.15 of the City Charter.
Section 5. Legislative History and Effective Date. This ordinance was introduced on May 4, 2026, and adopted on ____________, and shall be effective 30 days after its adoption. 242 of 11211
CITY OF SAN MATEO
DRAFT ORDINANCE
AN ORDINANCE AMENDING ZONING CODE CHAPTER 27.66 (HISTORIC PRESERVATION) TO ALIGN WITH GENERAL PLAN 2040 AND STATE LAW, AND IMPROVE CLARITY AND CONSISTENCY IN PROCEDURES, AND FIND THE ORDINANCE EXEMPT FROM FURTHER ENVIRONMENTAL REVIEW PURSUANT TO SECTIONS 15061(B)(3) AND 15308 OF THE CEQA GUIDELINES
WHEREAS, the City of San Mateo is authorized under the State of California to regulate land use and protect historic and architectural resources for the public health, safety, and general welfare; and WHEREAS, in November 1993 the City of San Mateo adopted Ordinance No. 1993-21, establishing Chapter
27.66 Downtown Historic Preservation, which was established to define the downtown historic district; and WHEREAS, in June 1995, the City of San Mateo adopted Ordinance No. 1995-13, amending Municipal Code Chapter 27.66 to be remade as Historic Preservation and expanding the provisions citywide; and WHEREAS, San Mateo’s General Plan 2040 includes a goal to support preservation of historic and culturally important resources to maintain San Mateo’s special identity and continuity with the past, and policies and actions to implement this goal; and
WHEREAS, updates to the City’s Historic Preservation Ordinance are necessary to reflect current best practices in preservation planning, improve clarity and consistency in procedures, and ensure alignment with state law; and
WHEREAS, the amendments strengthen provisions related to designation criteria, historic districts, owner consent thresholds, reviews for alterations, and administrative procedures; and WHEREAS, the Ordinance is exempt from the requirements of the California Environmental Quality Act (CEQA) pursuant to Sections 15061(b)(3) (Common Sense Exemption) and Section 15308 (Actions by Regulatory Agencies for Protection of the Environment); and
WHEREAS, on April 14, 2026, the Planning Commission held a duly noticed public hearing, received all written and oral public comments, and recommended that the City Council adopt the proposed Ordinance to amend Chapter 27.66 (Historic Preservation); and
WHEREAS, on May 4, 2026, the City Council held a duly noticed public hearing, received all written and oral public comments, and considered the proposed Ordinance to amend Chapter 27.66 (Historic Preservation).
NOW, THEREFORE, THE COUNCIL OF THE CITY OF SAN MATEO ORDAINS AS FOLLOWS:
Section 1. Section 27.66.010 of the San Mateo Municipal Code is amended as follows:
27.66.010 Purpose and Intent
The intent of the Historic Preservation Ordinance is to promote the protection, enhancement, preservation, and use of historic resources within San Mateo, recognizing they are of economic, cultural, and 243 of 11211
aesthetic benefit to the community. It is further recognized that the economic, cultural and aesthetic character of the City will be enhanced by honoring its heritage and ensuring that future generations can experience and appreciate it. The purposes of this chapter are as follows:
(a) Designate, preserve, protect, and enhance the City’s historic resources. (b) Foster public awareness and encourage public understanding of the City’s past through the recognition and use of historic and cultural resources. (c) Preserve a variety of architectural styles, patterns of development, and design trends that reflect phases of the City’s history and encourage complementary design and construction to inspire a diverse and livable urban environment.
(d) Enhance the visual and aesthetic character of the City by encouraging the preservation and maintenance of historic resources.
(e) Avoid demolition of the City’s historic resources, where feasible, through preservation, rehabilitation, or other available and appropriate alternatives.
(f) Fulfill the City’s responsibility under state and federal regulations, including the California Environmental Quality Act and Section 106 of the National Historic Preservation Act.
Section 2. Section 27.66.020 of the San Mateo Municipal Code is amended as follows:
27.66.020 Definitions
(a) Alteration, Major. Any significant changes or modifications to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory, including but not limited to changes to or modifications of structural, architectural details or visual characteristics; additions; and placement or removal of any significant objects affecting the significant exterior visual and/or historical qualities of the property.
Examples include:
(1) Relocation of a Landmark building, or removal of a character-defining feature of a Landmark building. (2) Any project that requires a permit that significantly alters or changes the street-facing elevation or side elevation of a Landmark building, including major changes to windows and doors and their openings, the application of new exterior cladding or coating that changes the appearance, design, or texture of a property, and the addition of dormers and other architectural features. (3) Any addition of square footage to a Contributor building elevation that faces a street. (4) New construction on a property containing a Landmark or Contributor building that could affect its visual appearance.
(b) Alteration, Minor. An alteration that has been determined to have limited potential to affect the character-defining features and architectural style of a Landmark or Contributor within a Historic District listed 244 of 11211
in the San Mateo Historic Resources Inventory. In no case shall a Minor Alteration involve actions including new construction or full or partial demolition of a Landmark structure. Examples include:
(1) Any demolition or removal of insignificant exterior features of a Landmark building, including additions, windows, doors, and exterior siding material that is non-original or otherwise lacking in historic integrity.
(2) Any project that requires a permit that does not substantially change the exterior characterdefining features of a Landmark building, including re-roofing in a different material that replicates the existing or original roofing, replacement windows and doors matching the design and materials of the existing or original windows and doors (when it is infeasible to repair) and minor additions on secondary or rear elevations.
(3) In Historic Districts listed in the San Mateo Historic Resources Inventory, demolition and alteration of detached garages and other accessory structures built within the period of significance on a Contributor property.
(4) New construction of detached garages or other accessory structures on a Landmark property.
(5) Any alteration determined minor by the Community Development Director. (c) Certificateion of Appropriateness. The administrative approval document issued by the City to approve an alteration to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory.
(d) Character-Defining Feature. Character-defining features are visual aspects, physical qualities, and characteristics of a historic resource that help to convey its significance and may include the building’s shape, structural details, materials, and decorative features. (e) Construction. The act of rebuilding or expanding an existing building or structure or the erection of a new principal or accessory building or structure on a property. (f) Contributing Resource or Contributor. A building, structure, site, or object within a Historic District listed in the San Mateo Historic Resources Inventory that retains enough of its original location, setting, design, materials, workmanship, feeling, and association to convey the district's historical or architectural significance.
The resource contributes to the designated district's historical significance and dates to its period of significance. (g) Demolition. The complete destruction or removal of a building, structure, or improvement, removal of more than 50 percent of the perimeter walls, or substantial removal of a structural wall of a street-facing elevation of a structure or building that may have an adverse effect on the significance of a property. (h) Eligible Historic Resource. Resources found to be eligible for designation as a historic resource at the federal, state, or local level based on substantial evidence in a Historic Resource Evaluation, but not formally designated.
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(i) Historic District. An area containing a concentration of historic buildings, structures, sites, objects, or other resources that are unified historically, culturally, or architecturally. A historic district may contain both “contributing” and “non-contributing” resources.
(j) Historic Resource. Includes, but is not limited to, any object, building, structure, site, area, place, sign, district, or landscape feature which is historically, culturally, architecturally and/or archaeologically significant.
Historic resources may also include, but are not limited to, resources:
(1) Eligible for or listed in the National Register of Historic Places; (2) Eligible for or listed in the California Register of Historical Resources; (3) Eligible for or listed in the San Mateo Historic Resources Inventory; (4) Identified in the 1989 Historic Building Survey Report. (k) Historic Resources Evaluation (HRE). A historic resources evaluation (HRE) is a report, prepared by a qualified professional, which documents, identifies, and evaluates, based on the appropriate evaluative criteria, potential historic resources, including buildings, structures, objects, and districts, for their eligibility for designation.
(l) Improvement. Any building, structure, landscape feature, or object physically located on real property or that constitutes a physical addition or physical alteration of real property or any part of such alteration. (m) Integrity. The ability of a property, structure, site, or building to convey its identity through its physical features and how they relate to its historic context and the basis of its significance. A measure of integrity is not the same as an assessment of condition. (n) Landmark. Individual resource listed in the San Mateo Historic Resources Inventory. (o) Non-contributing Resource. A building, structure, site, or object within a historic district that does not possess significant qualifications or characteristics of a contributing resource due to such factors as age or level of alteration, but which has been included within the geographic boundary of a historic district. (p) Owner. The person or entity (public or private) appearing on the last equalized assessment roll of the County of San Mateo or person/entity providing proof of ownership. (q) Qualified Professional. An individual who meets the Secretary of the Interior’s Professional Qualification Standards (36 CFR Part 61, Appendix A) in history, architectural history, or historic architecture. (r) Routine Maintenance. Any work done for the purpose of preventing deterioration, decay, or damage or to maintain a property’s existing condition. Examples include:
(1) Painting;
(2) Ordinary maintenance and repair which does not require a building permit; 246 of 11211
(3) Landscaping, including sprinkler work, that does not affect a character-defining feature; and (4) Paving work that does not affect a character-defining feature. (s) San Mateo Historic Resources Inventory. A list of individual Landmarks and Historic Districts in San Mateo, designated by the City under the provisions of this chapter. (t) Secretary of the Interior’s Standards for Rehabilitation. The Secretary of the Interior’s Standards for Rehabilitation, codified in 36 CFR, Part 68, serve as the guidance for work on historic resources.
Section 2. Section 27.66.030 of the San Mateo Municipal Code is amended as follows:
27.66.030 San Mateo Historic Resources Inventory
The San Mateo Historic Resources Inventory is the official list of locally designated historic resources and includes:
(a) Landmarks designated pursuant to the procedure set forth in Section 27.66.060. (b) Historic Districts designated pursuant to the procedure set forth in Section 27.66.070. (c) Historic Districts and Landmarks locally designated by resolution as of the effective date of this ordinance.
Section 3. Section 27.66.040 of the San Mateo Municipal Code is amended as follows:
27.66.040 Designation Criteria
Prior to approval for listing in the San Mateo Historic Resources Inventory, the City Council shall find that the historic resource satisfies one or more of the criteria outlined below, and retains its historic integrity. (a) Is associated with events that have made a significant contribution to the broad patterns of San Mateo’s or California’s history and cultural heritage; or (b) Is associated with the lives of persons or communities important to San Mateo’s or California’s past; or
(c) Embodies the distinctive characteristics of a type, period, region, or method of construction, or represents the work of an important creative individual, or possesses high artistic values; or (d) Has yielded, or may be likely to yield, information important to prehistory or history.
Section 4. Section 27.66.050 of the San Mateo Municipal Code is amended as follows:
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27.66.050 Eligibility Requirements for Listing
(a) Landmarks. To be eligible for consideration as a Landmark, the resource must be at least fifty (50) years old and meet at least one of the criteria outlined in Section 27.66.040. (b) Historic District. To be eligible for consideration as a Historic District, at least seventy-five percent (75%) of the buildings in the proposed historic district (excluding accessory buildings) must be at least fifty (50) years old and otherwise meet the criteria of Section 27.66.040. In addition, no more than twenty-five percent (25%) of the buildings in the proposed district may be non-contributing. Non-contributing buildings may be included as part of a historic district only to the extent that they are determined to be essential to the geographic integrity of the district. The Historic Resources Commission shall make determinations identifying non-contributing buildings as part of the review process.
Section 6. Section 27.66.060 of the San Mateo Municipal Code is amended as follows:
27.66.060 Procedure for Designating Landmarks
(a) Application for Landmarks. The City shall make available an application for listing historic resources in the San Mateo Historic Resources Inventory.
(1) Owner Consent. Except as provided in subsection (5), Nnominations to add a Landmark to the San Mateo Historic Resources Inventory shall be made only by application of the property owner or property owners representing a majority or controlling interest on which the resource is located. The property owner may request that a resource be listed in the San Mateo Historic Resources Inventory by submitting a completed application to the Planning Division. No application shall be accepted without the written consent of the property owner.
(2) Application Review. Landmark applications shall be reviewed by the Planning Division to assess if all application materials are provided and if the application is complete, including sufficient information to support the finding that the resource meets the requirements for designation set forth in Section 27.66.050. (3) Designation Recommendation. Landmark applications, once deemed complete by the Planning Division, shall be reviewed by the Historic Resources Commission at a public meeting. The Historic Resources Commission shall determine whether the resource meets one (1) or more criteria for approval as a historical resource to be listed on the San Mateo Historic Resources Inventory and, based on this determination, provide a recommendation to the City Council. The Historic Resources Commission shall adopt a resolution stating its recommendation, focusing on the criteria set forth in Section 27.66.040, and incorporating its reasons for the recommendation.
(4) Designation Action. Following the recommendation from the Historic Resources Commission, the City Council shall hold a public hearing to consider the application. Following the public hearing, the City Council shall adopt a resolution to approve or deny the application based on the criteria set forth in Section 27.66.040. If the application is approved by City Council, the resource shall be added to the San Mateo Historic Resources Inventory.
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(4) 1989 Historic Building Survey. The City Council may nominate properties listed on the 1989 Survey for addition to the San Mateo Historic Resources Inventory. Following property owner notification and documentation to support findings, the City Council shall hold a public hearing to consider a resolution to approve the designation based on the criteria set forth in Section 27.66.040. If the application is approved by City Council, the resource shall be added to the San Mateo Historic Resources Inventory.
Section 7. Section 27.66.070 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.070 Procedure for Designating Historic Districts
(a) Application for Historic District Designation. The City shall make available an application for listing a Historic District in the San Mateo Historic Resources Inventory. The application will include a two-part process. (1) Preliminary Application. Nominations to add Historic Districts to the San Mateo Historic Resources Inventory shall be made by a property owner or group of property owners in a potential historic district.
Nominations to add Historic Districts to the San Mateo Historic Resources Inventory will first need to complete a preliminary application. This application shall include the following:
(A) Application Form. The preliminary application form and requisite support materials outlined in the application instructions.
(B) Documentation of Notification. Documentation that notification of the pursuit of the application was provided to all potentially affected property owners in the proposed district via mailed notice. Mailed notice shall be provided to every occupant and owner of property as listed in San Mateo County’s most recent property ownership assessment roll within the proposed historic district. (C)(B) Demonstration of Owner Interest. Demonstration of owner interest shall include written certification that at least twenty percent (20%) of property owners within the potential historic district support the application for designation, with one (1) vote allocated per property. (D)(C) Preliminary Documentation. The preliminary application shall also include a map of the proposed historic district and photographs of properties to be included in the Historic District. (2) Preliminary Application Review. Preliminary applications shall be reviewed by the Planning Division to assess if all application materials are provided and if the application is complete, including satisfactory demonstration of owner consent.
(3) Community Meeting. Once the Preliminary Application has been deemed complete, the applicant shall host a community meeting prior to any public meeting to consider the designation. The purpose and intent of the community meeting is to provide information about the proposed Historic District and designation process. Mailed notice shall be provided to every occupant and owner of property as listed in San Mateo County’s most recent property ownership roll within the proposed Historic District. Such notice shall be provided at least 10 days prior to the community meeting date. 249 of 11211
(4) Formal Application. Once a preliminary application has been deemed complete and the community meeting has been held, the applicant may submit a formal application. This application shall include the following:
(A) Application Form. The formal application form and requisite support materials outlined in the application instructions.
(B) Sufficient information to support the finding that the Historic District meets the requirements for designation set forth in Section 27.66.050. (5) Formal Application Review. Formal applications shall be reviewed by the Planning Division to assess if all application materials are provided and if the application is complete, including sufficient information to support the finding that the Historic District meets the designation criteria in Section
27.66.040 and the eligibility requirements for designation in Section 27.66.050. (b) Owner Consent. Evidence of support for the potential designation from at least sixty percent (60%) of property owners in the proposed historic district shall be provided for the Formal Application to be deemed complete. To confirm owner consent, the City shall mail a survey to all property owners in the proposed historic district, to the name and address listed in San Mateo County’s most recent property ownership assessment roll, via certified mail seeking their approval to be included in the proposed historic district. Owner consent will be confirmed when the City has received surveys from at least sixty percent (60%) of property owners who express support for the historic district designation.
(c) Designation Recommendation. Once the formal application has been deemed complete by the Planning Division and owner consent confirmed, it shall be reviewed by the Historic Resources Commission at a public meeting. The Historic Resources Commission shall determine whether the historic district meets one (1) or more criteria to be listed on the San Mateo Historic Resources Inventory and, based on this determination, shall recommend to the City Council that the application be approved or denied. The Historic Resources Commission shall adopt a resolution stating its recommendation, focusing on the criteria set forth in Section
27.66.040, assessing the historical significance of those contributing resources identified in the proposed district, affirming that no more than twenty-five percent (25%) of the buildings in the district are noncontributing, and incorporating its reasons in support or denial of the application. Mailed notice shall be provided to property owners and occupants within the Historic District at least 10 days prior to the Historic Resources Commission meeting date.
(d) Designation Action. Following the recommendation from Historic Resources Commission, the City Council shall hold a public hearing to consider the application. Following the public hearing, the City Council shall adopt a resolution to approve or deny the application based on the criteria set forth in Section 27.66.040. If the application is approved by City Council, the Historic District shall be added to the San Mateo Historic Resources Inventory. Mailed notice of the public hearing shall be provided to property owners and occupants of properties within the Historic District at least 10 days before the meeting date. Mailed notice of the decision shall be provided to property owners and occupants of properties within the Historic District within 30 days following the decision.
Section 5. Section 27.66.080 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
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27.66.080 Criteria and Procedure for Removing a Landmark or Historic District Designation (a) The City Council may approve removal of a Landmark from the San Mateo Historic Resources Inventory by one of the following methods:
(1) Application for Removal. Removal of a Landmark designation may be sought by the owner of a property on which a Historic Resource is located. Applications must be accompanied by such documentation as required by the Planning Division and demonstrate that the Landmark does not possess, or no longer possesses, a minimum level of significance necessary for listing as outlined in Section 27.66.040. (2) Removal Following Destruction. The property owner or the City may seek removal of designation to the San Mateo Historic Resources Inventory where a Landmark has been destroyed. (b) Delisting Recommendation. Upon completion of an application to remove a Landmark, the request shall be reviewed by the Historic Resources Commission at a public meeting. The Historic Resources Commission shall determine if the Historic Resource meets the conditions to warrant removal and provide a recommendation to City Council that the application be approved or denied. (c) Delisting Action. Upon receipt of a recommendation from the Historic Resources Commission to remove a Landmark from the San Mateo Historic Resources Inventory, the City Council will hold a public hearing on the application. If the City Council approves an application, such approval shall be made by resolution. (d) Historic District Delisting. The process to remove a Historic District from the San Mateo Historic Resources Inventory shall follow the same process that is required to designate a Historic District as outlined in Section 27.66.070.
Section 9. Section 27.66.090 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.090 Review Required
(a) Historic Resource. No building permit that includes an exterior facade modification, exterior alteration, or building addition involving an individually eligible historic resource shall be issued until a planning application has been approved in accordance with the provisions of Chapter 27.08 of this Title. (b) Landmark or Contributor. No building permit for a Major or Minor Alteration to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory shall be issued until a Certificate of Appropriateness has been approved in accordance with the provisions of Section 27.66.100 of this Chapter.
(c) Exemptions. Review pursuant to (a) and (b) of this section shall not be required when preempted by State Law.
Section 10. Section 27.66.100 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
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27.66.100 Certificate of Appropriateness
(a) Applicability. A Certificate of Appropriateness is required for any alteration to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory. In approving a Certificate of Appropriateness, conditions or restrictions may be imposed as necessary or appropriate to ensure that the integrity of the resource is maintained.
(b) Historic Resources Commission Review. The Historic Resources Commission has the authority to review and approve, conditionally approve, or disapprove Certificates of Appropriateness for Major Alterations to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory. (1) Design Standards. The Secretary of the Interior’s Standards for Rehabilitation as amended from time to time are incorporated by this reference. Work proposed for a Landmark or Contributor within a Historic District shall be in compliance with these standards. Where applicable, locally adopted design standards or guidelines shall apply in addition to Tthe Secretary of the Interior’s Standards for Rehabilitation. (c) Zoning Administrator Review. The Zoning Administrator has the authority to review and approve, conditionally approve, or disapprove Certificates of Appropriateness for Minor Alterations to a Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory, provided that the projects do not result in any significant impacts pursuant to the California Environmental Quality Act (CEQA)., (d) Exemptions. A Certificate of Appropriateness is not required for Routine Maintenance of any Landmark or Contributor within a Historic District listed in the San Mateo Historic Resources Inventory, so long as maintenance and repair does not involve change in exterior design, material, or appearance. A Certificate of Appropriateness is not required for construction, reconstruction, alteration, or demolition that the Building Official certifies is required to protect public health or safety because of an unsafe or dangerous condition. (e) Economic Hardship. At the time of an application for a Certificate of Appropriateness, the applicant may apply for an Economic Hardship Exception. The application shall include proof of economic hardship from the owner of the property, and documents and/or testimony to substantiate a claim of economic hardship as required by the Community Development Director. The approval of an Economic Hardship Exception shall be based on the findings that:
(1) The owner of the property is qualified as low-income or very-low income; and (2) Denial of the Economic Hardship Exception would deprive the owner of all reasonable use of, or economic return on, the designated resource; or
(3) Denial of the Economic Hardship Exception would cause the owner to suffer unreasonable damage in comparison to the benefit conferred to the community by the designated resource. (f) Appeals. The final decision of the Zoning Administrator to approve, conditionally approve, or disapprove a Certificate of Appropriateness is appealable to the Historic Resources Commission. The decision of the Historic Resources Commission is appealable to the City Council. Appeals shall be processed pursuant to Chapter 27.08 (Rules of Procedures).
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Section 6. Section 27.66.110 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.110 Demolition
(a) Demolition. Any request for demolition of a Landmark or a Contributor within a Historic District listed in the San Mateo Historic Resources Inventory, or an eligible historic resource shall be processed as a planning application as described in Chapter 27.08. As part of this planning application, a Historic Resource Evaluation and/or a report by a civil or structural engineer or architect licensed by the State of California shall be submitted identifying the general condition of the building, all health and safety code deficiencies, corrective measures needed to alleviate these deficiencies, and the cost of such corrective measures. (b) Other regulations. All demolitions shall conform with the provisions of Chapter 23.10 Earthquake Hazard Reduction in Existing Buildings and Section 23.06.035 Demolition Permits-Conditions.
Section 7. Section 27.66.120 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.120 Design Guidelines
In addition to the Certificate of Appropriateness requirements outlined above, all exterior modifications of individually eligible and contributor buildings in the Downtown Retail Core subarea of the Downtown Area Plan shall conform with the Downtown Retail Core and Downtown District Design Guidelines.
Section 8. Section 27.66.130 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.130 Incentives for Preserving Historic Resources
To foster preservation and encourage participation in the City’s historic preservation efforts, the following incentives are available to Landmarks or Contributors within a Historic District listed in the San Mateo Historic Resources Inventory:
(a) State Historical Building Code. Any alteration made for preservation, rehabilitation, restoration, or relocation of such properties shall be made according to the requirements of the state historical building code pursuant to the California Health and Safety Code Section 18950, et seq. (b) Mills Act. The City Council may authorize the use of contracts pursuant to California Government Code Section 50280 et. seq., also known as the Mills Act. Such contracts may be entered into at the sole discretion of the City Council based on the recommendation of the Historic Resources Commission for the specific intent to promote the continued preservation of historic properties. (c) Additional Incentives. The City Council may authorize the use of additional incentives, as appropriate, to encourage the preservation, reuse, and rehabilitation of the City’s historic resources.
Section 9. Section 27.66.140 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
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27.66. 140 Duty to Keep in Good Repair
The owner of a resource listed in the San Mateo Historic Resources Inventory shall keep in good repair the exterior portions of all such buildings, structures, or improvements, and all interior portions thereof whose maintenance is necessary to prevent deterioration of any exterior improvement or essential exterior architectural or character-defining features. They shall also maintain properties in compliance with San Mateo Municipal Code Chapter 7.14 and the protective treatment standards of the International Property Maintenance Code.
Section 10. Section 27.66.150 of the San Mateo Municipal Code is added to Chapter 27.66 as follows:
27.66.150 Enforcement and Penalties
(a) Time to Correct. Prior to assessment or initiation of any penalty for any violation of this chapter, the Zoning Administrator shall provide written notice of noncompliance to property owners. Notice shall be sent by certified and regular mail. Following mailing of the notice, property owners shall have 30 calendar days to correct the violation or to inform the City that there is a financial hardship, or why an extension is warranted.
Additional time to correct the violation may be allowed where the property owner is exercising due diligence in acting to correct noticed violations. The Zoning Administrator shall have the authority to place reasonable and/or necessary conditions on such an extension to ensure timely correction of the violation. (b) Work Stoppage. In addition to any other fines, penalties or enforcement provisions set forth in this chapter, failure to comply with an approved application shall constitute grounds for immediate stoppage of the work involved in the noncompliance until the matter is resolved. (c) Violation Penalty. In addition to the foregoing remedies, and any other remedies available by law, the City Attorney may enforce the provisions of this article by seeking injunctive relief to restrain or enjoin or to cause the correction or removal of any violation of this chapter.
Section 11. Environmental Determination. In accordance with California Environmental Quality Act (CEQA) Guidelines, this Ordinance is exempt under Section 15061(b)(3) (Common Sense Exemption) because it will update and clarify the City’s policies and processes surrounding historic preservation, but will not materially change or expand the applicability of the Ordinance or the properties subject to the Ordinance’s requirements.
Further the Ordinance is exempt under Section 15308 (Actions by Regulatory Agencies for Protection of the Environment) because it regulates how properties can be modified, thereby protecting historic resources through maintaining the existing built environment. Therefore, pursuant to these exemptions, it can be seen with certainty that there is no possibility that the Ordinance may have a significant effect on the environment, and is exempt from CEQA review.
Section 12. Severability. In the event any section, clause or provision of this ordinance shall be determined invalid or unconstitutional, such section, clause or provision shall be deemed severable and all other sections or portions hereof shall remain in full force and effect.
Section 13. Publication. This Ordinance shall be published in summary in a newspaper of general circulation, posted in the City Clerk's Office, and posted on the City's website, all in accord with Section 2.15 of the City Charter.
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Section 14. Legislative History and Effective Date. This ordinance was introduced on May 4, 2026, and adopted on _________, and shall be effective 30 days after its adoption.
Place attachments here
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CITY OF SAN MATEO
DRAFT ORDINANCE
AN ORDINANCE ADDING SAN MATEO MUNICIPAL CODE CHAPTER 2.23 TO ESTABLISH THE HISTORIC
RESOURCES COMMISSION
WHEREAS, the City of San Mateo is authorized under the State of California to regulate land use and protect historic and architectural resources for the public health, safety, and general welfare; and WHEREAS, the City’s Historic Preservation Ordinance (Chapter 27.66) was updated to reflect current best practices in preservation planning, align with state law and implement General Plan 2040; and WHEREAS, the updated Historic Preservation Ordinance included the establishment of a Historic Review Commission to function as the Ordinance’s review body.
NOW, THEREFORE, THE COUNCIL OF THE CITY OF SAN MATEO ORDAINS AS FOLLOWS:
Section 1. Chapter 2.23 of the San Mateo Municipal Code is added to Title 2 as follows:
Chapter 2.23
Historic Resources Commission
2.23.010 Organization
The Historic Resources Commission shall consist of no more than five members appointed by the Council, and two non-voting youth advisory members who must be at least 13 years old, and no more than 17 years old at the time of appointment ("Youth Commissioners"). Youth Commissioners must present written documentation of parental or guardian consent to be considered for appointment. Youth commissioners shall serve only in an advisory capacity and shall not count towards a quorum of the commission. In making appointments, the Council shall prioritize appointing applicants who are professionals in the discipline of history, architectural history, planning or a related field, licensed architects or engineers specifically qualified by reason of training or experience in building rehabilitation, accredited green building or construction management professionals, or those who demonstrate special interest and experience in the City’s history.
Each member of the Historic Resources Commission shall serve at the pleasure of Council and for a term of four years, or until the appointment and qualification of a successor, except that the initial terms of the first members appointed shall be determined by lot at their first meeting so that each year at least one term will expire. Thereafter, all appointments shall be for a term of four years. No member shall be eligible for reappointment after serving two consecutive four-year terms. Each Youth Commissioner shall serve at the pleasure of the Council for a term of one year and until the appointment and qualification of a successor. Youth Commissioners may be reappointed for one additional one-year term.
2.23.020 Meetings
The Historic Resources Commission shall elect a chair and vice-chair to serve at the pleasure of the Commission. The Commission may adopt reasonable rules and regulations for the conduct of its business. A 256 of 11211
regular time and place of meetings shall be established and adhered to in the manner of holding public meetings for legislative bodies in the state. All meetings shall be open to the public unless by law otherwise provided.
2.23.030 Powers and Duties
The Historic Resources Commission shall have the following powers and duties:
(a) To recommend to the City Council, as provided in Chapter 27.66:
(1) The approval or disapproval of applications for Landmarks. (2) The approval or disapproval of applications for Historic Districts. (3) The approval or disapproval of applications to remove a Landmark or Historic District from the San Mateo Historic Resources Inventory.
(4) The approval or disapproval of applications for Mills Act contracts. (b) To review and approve or disapprove applications, in whole or part, for Certificates of Appropriateness pursuant to Chapter 26.66.
(c) To perform any other functions that may be designated or assigned by the City Council.
Section 2. Environmental Determination. In accordance with California Environmental Quality Act (CEQA) Guidelines, section 15378(b)(5), this action is an administrative activity that will not result in direct or indirect physical changes in the environment. This action is also exempt pursuant to CEQA Guidelines section 15061(b)(3) because it can be seen with certainty that there is no possibility that establishing a Historic Resources Commission may have a significant effect on the environment Section 3. Severability. In the event any section, clause or provision of this ordinance shall be determined invalid or unconstitutional, such section, clause or provision shall be deemed severable and all other sections or portions hereof shall remain in full force and effect.
Section 4. Publication. This Ordinance shall be published in summary in a newspaper of general circulation, posted in the City Clerk's Office, and posted on the City's website, all in accord with Section 2.15 of the City Charter.
Section 5. Legislative History and Effective Date. This ordinance was introduced on May 4, 2026, and adopted on _____________, and shall be effective 30 days after its adoption. 257 of 11211
1 From: Susan Adler
Sent: Monday, May 4, 2026 5:21 PM
To: Rob Newsom; Adam Loraine; Danielle Cwirko-Godycki; Nicole Fernandez; Clerk Cc: ; Alex Khojikian; Prasanna Rasiah; Historic Policy
Subject: Historic Ordinance: Vote "Not Now" or "No to Section 090 Discretionary Language" NOTE: This is NOT an AI generated message and I am a real person. You can easily verify this by replying to this email.
Dear City Council,
It has come to my understanding that there have been some last minute changes to SecƟon 090 of the Historic Ordinance that puts discreƟonary control over how "historic" properƟes are idenƟfied and thus restricted.
These "historic" shenanigans, death by bureaucracy, go directly against your goals for more housing to address the skyrockeƟng cost of living in San Mateo.
And your consƟtuents will be steaming mad if you approve language that lets Kings in City Government lord over their home decisions. This is terrible governance and makes a City horrible to live in. Rules should be clear and ministerial so that people can plan, budget and invest in their homes. - Protect your consƟtuents.
- Reduce bureaucracy.
DO NOT approve the historic ordinance with discreƟonary language in SecƟon 090.
Thanks for your consideraƟon.
Susan Adler
258 of 11211
1 From: Joan L. Cassman
Sent: Monday, May 4, 2026 5:05 PM
To: Rob Newsom; Adam Loraine; Danielle Cwirko-Godycki; Nicole Fernandez; Clerk Cc: ; Alex Khojikian; Prasanna Rasiah; Historic Policy
Subject: Historic Ordinance: Vote "Not Now" or "No to Section 090 Discretionary Language" Dear San Mateo City Council,
I have been informed that some last-minute changes to Section 090 of the draft Historic Ordinance puts discretionary control over how "historic" properties are identified into the hands of City administration and attempts to insert into the Ordinance what was long discussed during deliberations on the draft Ordinance and ultimately discarded from that Ordinance.
These "historic" restrictions run counter to the essential City goals for more housing to address the skyrocketing cost of living in San Mateo. I thought the discussions of this Ordinance established that owner consent is critical to any restrictions.
The insertion of this language runs counter to the compromise to move forward with this Ordinance and belies good, transparent governance.
I would prefer that the City Council spend its time and city resources on inclusion, protection of your constituents’ property rights, reduction in bureaucracy and elimination of any “Big Brother” knows best rules.
If you determine to move forward with the Ordinance, DO NOT APPROVE IT WITHOUT DELETING the discretionary language in Section 090.
Thank you for your consideration.
Regards,
Joan Cassman and Michael Duncheon
259 of 11211
1 From: Christina Dikas
Sent: Monday, May 4, 2026 4:55 PM
To: City Council (San Mateo); Clerk
Subject: Public comments on San Mateo's Preservation Ordinance Dear members of the San Mateo City Council:
I am a resident of San Mateo, and I'm also an architectural historian/historic resources planner and principal at a local historic preservation firm. I work with cities in California to update their preservation ordinances. I am currently working on an update to Mountain View's preservation ordinance and I am just starting to assist Redwood City with updating theirs. I would like to provide comments on San Mateo's ordinance.
The following are my primary concerns about the current version of the preservation ordinance:
1. A preservation ordinance should be an integral part of a City's preservation program within its longrange planning goals, protecting the most important historic resources while simultaneously balancing historic resource considerations (and the benefits that historic resources bring to the community at large) alongside ongoing change in the built environment. What places and properties represent historical contributions to the heritage, sense of place, and identity of the City of San Mateo that the City wants to protect?
In that vein, I strongly recommend providing an avenue for City initiation of designation, e.g. for the Historic Preservation Commission and City Council to nominate/designate properties. There should be an avenue open for future historic resources survey and designation -- at the least, a survey update for the properties identified as eligible for historic designation in the 1989 survey, so that those that remain eligible can be added and protected as landmarks.
2. I am pleased that the City has decided to create a Historic Resources Commission. However, a preservation ordinance should have a section that outlines the commission's purpose, make-up of its members (e.g. architects, historians, architectural historians, planners, etc.), responsibilities for reviewing landmark nominations and reviewing projects that may affect landmarks, etc. This information is missing from and/or scattered throughout the ordinance and should be revised.
3. Most cities have a robust list of incentives/benefits that have been developed and included in the preservation ordinance. Ideally, staff would provide recommendations to Council in a study session to add to the ordinance now. Other cities (e.g. Palo Alto, Mountain View) have zoning and permit incentives, e.g. exemptions from some requirements, FAR exceptions, exemptions from some permit fees, expedited permit review for projects that meet the Secretary of the Interior's Standards, etc.
Thank you for considering my comments during tonight's hearing.
Best,
Christina Dikas Brobst
260 of 11211
1 From: Norma F <
Sent: Monday, May 4, 2026 4:26 PM
To: Rob Newsom; Adam Loraine; Danielle Cwirko-Godycki; Nicole Fernandez; Clerk Cc: Alex Khojikian; Prasanna Rasiah; Historic Policy
Subject: Last minute changes to draft Historic Ordinance Subject: Historic Ordinance: Vote "Not Now" or "No to Section 090 Discretionary Language" NOTE: This is NOT an AI generated message and I am a real person. You can easily verify this by replying to this email.
Dear City Council,
What is this with last minute changes to Section 090 of the Historic Ordinance giving control to the City to designate historic properties over owner consent? That is the exact opposite of what the Council indicated it would do just a few months ago. Further, it's completely inconsistent with the City's drive to promote housing and reduce the cost of living.
Vote no.
Surely there are many more important issues for the City to address! Thanks for your consideration.
Norma Formanek
261 of 11211
262 of 11211
1 From: Rodney Mayers < >
Sent: Monday, May 4, 2026 6:37 PM
To: Rob Newsom; Adam Loraine; Danielle Cwirko-Godycki; Nicole Fernandez; Clerk Cc: ; Alex Khojikian; Prasanna Rasiah; Historic Policy
Subject: Historic Ordinance: Vote "Not Now" or "No to Section 090 Discretionary Language" NOTE: This is NOT an AI generated message and I am a real person. You can easily verify this by replying to this email.
Dear City Council,
It has come to my understanding that there have been some last minute changes to Section 090 of the Historic Ordinance that puts discretionary control over how "historic" properties are identified and thus restricted.
These "historic" shenanigans, death by bureaucracy, go directly against your goals for more housing to address the skyrocketing cost of living in San Mateo.
And your constituents will be steaming mad if you approve language that lets Kings in City Government lord over their home decisions. This is terrible governance and makes a City horrible to live in. Rules should be clear and ministerial so that people can plan, budget and invest in their homes. - Protect your constituents.
- Reduce bureaucracy.
DO NOT approve the historic ordinance with discretionary language in Section 090.
Thanks for your consideration.
Rodney Mayers
PS: Any City Council that removes my right to make decisions about my own home that I paid for with my money will be demonstrating a complete abdication of their responsibility to represent my interests based on one Council member’s interest. This has gone far enough! 263 of 11211
1 From: Mignon O'Young
Sent: Monday, May 4, 2026 5:45 PM
To: Rob Newsom; Adam Loraine; Danielle Cwirko-Godycki; Nicole Fernandez; Clerk Cc: Alex Khojikian; Prasanna Rasiah; Historic Policy
Subject: Historic Ordinance: Vote "Not Now" or "No to Section 090 Discretionary Language" NOTE: This is NOT an AI generated message and I am a real person. You can easily verify this by replying to this email.
Dear City Council,
It has come to my understanding that there have been some last minute changes to Section 090 of the Historic Ordinance that puts discretionary control over how "historic" properties are identified and thus restricted.
These "historic" shenanigans, death by bureaucracy, go directly against your goals for more housing to address the skyrocketing cost of living in San Mateo.
And your constituents will be steaming mad if you approve language that lets Kings in City Government lord over their home decisions. This is terrible governance and makes a City horrible to live in. Rules should be clear and ministerial so that people can plan, budget and invest in their homes. - Protect your constituents.
- Reduce bureaucracy.
DO NOT approve the historic ordinance with discretionary language in Section 090.
Thanks for your consideration.
O’Young Family
264 of 11211
1 From: David Wall
Sent: Monday, May 4, 2026 4:19 PM
To: Rob Newsom; Adam Loraine; Danielle Cwirko-Godycki; Nicole Fernandez; Clerk Cc: Alex Khojikian; Prasanna Rasiah; Historic Policy
Subject: Historic Ordinance: Vote "Not Now" or "No to Section 090 Discretionary Language" NOTE: This is NOT an AI generated message and I am a real person. You can easily verify this by replying to this email.
Dear City Council,
It has come to my understanding that there have been some last minute changes to SecƟon 090 of the Historic Ordinance that puts discreƟonary control over how "historic" properƟes are idenƟfied and thus restricted.
These "historic" shenanigans, death by bureaucracy, go directly against your goals for more housing to address the skyrockeƟng cost of living in San Mateo.
And your consƟtuents will be steaming mad if you approve language that lets Kings in City Government lord over their home decisions. This is terrible governance and makes a City horrible to live in. Rules should be clear and ministerial so that people can plan, budget and invest in their homes. - Protect your consƟtuents.
- Reduce bureaucracy.
DO NOT approve the historic ordinance with discreƟonary language in SecƟon 090.
Thanks for your consideraƟon.
Sent from my iPhone
265 of 11211
1 Chantal Eaton
From: Martin McTaggart
Sent: Thursday, May 14, 2026 11:34 AM
To: Chantal Eaton
Subject: FW: May 18 Meeting Document
Follow Up Flag: Flag for follow up
Flag Status: Flagged
Hi Chantal,
Can you kindly add the below as public comment for the ordinance adoption? Thank you,
Martin
From: Tracy Volponi
Sent: Thursday, May 14, 2026 11:26 AM
To: Rob Newsom <[email protected]>; Nicole Fernandez <[email protected]>; Danielle Cwirko-Godycki <[email protected]>; Lisa Diaz Nash <[email protected]>; Adam Loraine <[email protected]>; Martin McTaggart <[email protected]> Subject: May 18 Meeting Document
City Clerk - Please include this document in the packet for the 5/18/26 City Council Board meeting. Thank you! – Tracy Volponi
S A N M A T E O H I S T O R I C P R E S E R V A T I O N O R D I N A N C E Meet the Real People
Behind the 1989 Survey
Before you vote Monday, we'd like you to meet two of your neighbors.
T H E B R O O K S F A M I L Y · S A N M A T E O R E S I D E N T S 266 of 11211
2 Marion and Alan in their home — surrounded by 45 years of memories and the original craftsman details they have lovingly preserved.
Marion and Alan have lived in their San Mateo home for 45 years — well before the 1989 survey was ever conducted. They have kept the exterior exactly as it was when they bought it. Step inside and it is like walking through a museum. Nothing has changed. They are, by any measure, exactly the kind of homeowners that historic preservation advocates say they want to protect. "When Frank told us we were potential targets of a new historic designation ordinance, we had no idea what he was talking about." But they were very clear about one thing: they do not want historic designation.
They actually considered it themselves years ago — and decided against it. Not because they plan to change their home. They don't. But because they understand something that should be obvious to this Council:
"Even people who love their homes don't want other people telling them what they can and cannot do with them."
Marion and Alan are in their 90s. They are not going to remodel. They are not a threat to anyone's vision of historic preservation. And yet they will tell you plainly — they want no part of more government regulation in service of someone else's ambiguous goal.
If this ordinance is such a gift, why don't they want it? They are not alone. There are 91 households just like them.
T H E I R H O M E · M A I N T A I N E D E X A C T L Y A S B U I L T 267 of 11211
268 of 11211
City of San Mateo
City Council Meeting
POST PACKET
PUBLIC COMMENT
269 of 11211
1 From: Barbara Alexander
Sent: Monday, May 18, 2026 6:53 AM
To: Rob Newsom; Adam Loraine; Danielle Cwirko-Godycki; Nicole Fernandez; Clerk Cc: [email protected]; Alex Khojikian; Prasanna Rasiah; Historic Policy Subject: Do Not Approve Item 14 Historic Ordinance AND No surveys without Consent.
NOTE: This is NOT an AI generated message and I am a real person. You can easily verify this by replying to this email.
Dear City Council,
The Historic Ordinance as of the April 27th draŌ with edits is a Ɵcking Ɵme bomb of owner anger.
Language introduced in SecƟon 020 (j)(2) would allow a non-Owners to nominate ANY neighborhood in San Mateo to the State as a historic district. And if that nominaƟon is agendized and approved, even if 100% of the Owners Object, the City Law would categorize them as "historic" based on the State saying they are 'eligible'.
This bypasses EVERY value that you've communicated during the Historic process especially around Owner Consent. * DO NOT APPROVE Item 14 Historic Ordinance as part of the Consent Calendar * DO NOT SURVEY homes without prior and express owner consent Thank you for your aƩenƟon to this very serious maƩer.
Sent from my iPhone
270 of 11211
1 From: Rick Ballard
Sent: Monday, May 18, 2026 11:24 AM
To: City Council (San Mateo); Clerk
Cc: Alex Khojikian; Zachary Dahl
Subject: Public comment: May 18, Agenda item 14, Historic Policy Update — Ordinance Adoption Dear council,
I urge you to remove agenda item 14 from the May 18th council meeƟng consent calendar. The last-minute addiƟon allowing council to historically designate 1989-survey homes *without owner consent* is deeply problemaƟc and should not be approved.
I own a parƟcularly notable historic house protected by exisƟng ordinance and knew what I was geƫng into when I purchased it; most homeowners who own homes on this list were not expecƟng similar restricƟons. I recently renovated this house to protect it for the next 100 years — including replacing the cracked brick foundaƟon, making significant seismic and structural improvements, and more, while taking care to maintain the beauƟful character and history of the house. Some of the process I had to follow during this project included:
— A neighborhood noƟficaƟon of my project, including planning fees and the cost of mailers — Hiring a historic architect to evaluate the project — Extra cost for my architect to navigate historic city planning process — Significantly longer planning approval Ɵmes, including two different waiƟng periods for public noƟce (one of which I was not told about in advance, and resulted in my paying significant extra rent aŌer a move-out) — SubstanƟal cost for a reproducƟon woodframe window on the side of the house (not discernibly different from the street from an appropriate modern window) when the original was damaged — Requiring sign-off from the city even for the type of shingle for the roof I needed to replace
To give you an example of the level of detailed city control involved: the handrail on my front steps is currently a flat wooden board, and when repairing my steps I wanted to replace it with a more historically-appropriate wooden railing for a Victorian. Unfortunately, no photos of the house exist with the original railing. Without documentary evidence, and even though the current railing is not original, city planning said I could not change it even to something more appropriate without paying thousands of dollars in planning fees and then almost certainly being denied.