Agenda packet — City Council Finance Committee, April 16, 2025

City of San Ramon

FINANCE COMMITTEE
AGENDA
Sridhar Verose, Chair • Marisol Rubio, Vice Chair
City Hall - Large Conference Room, Second Floor
7000 Bollinger Canyon Road
Regular Meeting
4:30 PM
April 16, 2025
AGENDA QUESTIONS: PLEASE CALL THE FINANCE DIRECTOR AT (925) 973-2576

1. CALL TO ORDER

2. PUBLIC COMMENT
At this time, members of the public are encouraged to address the Committee on any item not already included on the agenda. Comments should not exceed three (3) minutes. No Committee action can be taken at this meeting on issues raised during public comment.

3. APPROVAL OF MINUTES

3.1 Finance Committee Regular Meeting - November 12, 2024

4. COMMITTEE BUSINESS

4.1 Proposed Stormwater Program Budget for FY 2025/26
Staff Report by Theresa Peterson, Engineering Program Manager

4.2 City of San Ramon Quarterly Investment Report for the Period Ending March 31, 2025 Staff Report by Miaoxia Joe, Finance Analyst

4.3 PARS Pension Stabilization Trust Statement for the Period Ending December 31, 2024 Staff Report by Candace Daniels, Finance Division Manager

5. COMMITTEE MEMBER COMMENTS

6. ADJOURNMENT
The next Finance Committee meeting is scheduled for May 21, 2025.

I hereby certify the agenda was posted 72 hours before the noted meeting. This agenda is posted in accordance with Government Code Section 54954.2(a).

Dated: April 11, 2025
2 Finance Committee Meeting – April 16, 2025
To make a request for disability-related accommodation to participate in the meeting, please contact the City Clerk’s Office 48 hours in advance of the meeting at 925-973-2539 or [email protected].

ATTENDEE CONDUCT
There will be zero tolerance for any person addressing the Committee making profane, offensive and disruptive remarks, or engaging in loud, boisterous, or other disorderly conduct, that disrupts the orderly conduct of the public meeting. Specifically, it is important for all speakers to adhere to the following guidelines for participation in this meeting:
a. No profanity or obscenity
b. Refrain from personal threats or attacks.
c. Refrain from hateful epithets and demeaning language based on any person’s race, religion, sexual orientation, ethnicity, gender, or disability.
d. Respect all people that are present.

At the discretion of the Committee Chair, a speaker may forfeit speaking time for any of the following reasons:
a. Exceeding the allotted time to speak;
b. Yelling, screaming, or other behavior that renders this Committee unable to continue the meeting;
c. Excessive profanity or slander; Specific threats or “fighting words” that incite violence; or d. Speech that is outside the subject matter jurisdiction of the Committee or the specific agenda item in which you are speaking.

While the City of San Ramon ensures the First Amendment rights of its citizens, we do not accept nor endorse any offensive or hateful comments made during our meetings. The City of San Ramon celebrates the diversity of our community, and we strive to be a welcoming and open community for all.

MINUTES OF THE

CITY OF SAN RAMON FINANCE COMMITTEE
November 12, 2024

1. CALL TO ORDER
The meeting was called to order at 4:01 PM.

Attendee Name Title Status Arrived
Scott Perkins Chair Present
Sridhar Verose Vice Chair Present
Also in attendance: Steven Spedowfski, City Manager; Scott Koll, Deputy City Manager; Candace Daniels, Finance Division Manager; Roger Burton, Actuary, Precision Actuarial, Inc.; Adolfo Navarro, Accounting Specialist

2. PUBLIC COMMENT
There was no public comment on previous items.

3. APPROVAL OF MINUTES

3.1 Finance Committee - Regular Meeting - Oct 14, 2024 4:00 PM RESULT: ACCEPTED [UNANIMOUS]
AYES: Perkins, Verose

4. UNFINISHED BUSINESS
There was no unfinished business to discuss.

5. NEW BUSINESS

5.1 GASB 75 OPEB Valuation Report Measured as of June 30, 2023, for Disclosures for the Fiscal Year Ending June 30, 2024
Presentation by Roger Burton, Actuary Precision Actuarial, Inc. (Zoom/Team)

The Finance Committee accepted the report.

RESULT: ACCEPTED

5.2 California Employer’s Benefit Trust (CERBT) for the Period Ending September 30, 2024
Staff Report by Candace Daniels, Finance Division Manager The Finance Committee accepted the report.

3.1 Packet Pg. 3
Minutes Acceptance: Minutes of Nov 12, 2024 4:00 PM (APPROVAL OF MINUTES) 2 Finance Committee Meeting – November 12, 2024
RESULT: ACCEPTED

6. COMMITTEE MEMBER COMMENTS
Committee members had nothing additional to report.

7. ADJOURNMENT
The meeting adjourned at 4:40 PM. The next Finance Committee Meeting is scheduled for December 9, 2024.

3.1 Packet Pg. 4
Minutes Acceptance: Minutes of Nov 12, 2024 4:00 PM (APPROVAL OF MINUTES)

FINANCE COMMITTEE STAFF REPORT
DATE: April 16, 2025
TO: Finance Committee/City Manager
FROM: Brian Bornstein, Public Works Director
By: Theresa Peterson, Associate Engineer
SUBJECT: Proposed Stormwater Program Budget for FY 2025/26

EXECUTIVE SUMMARY
The Stormwater Program continues to operate under the maximum allowable assessment rate of $35 per Equivalent Runoff Unit (ERU) while continuing to meet new requirements imposed by the Municipal Regional Stormwater Permit (MRP). An updated MRP (MRP 3.0) went into effect on July 1, 2022, and includes a broader set of requirements that increases the City’s annual operational costs. The City’s Stormwater Fund is expected to be fully depleted in FY 2025/26, requiring a General Fund contribution of $148,612. The Stormwater Program budget will require steadily increasing contributions from the General Fund each year. This underlines the urgent need for increased or additional Stormwater assessments from property owners to pay for this Program.

RECOMMENDED ACTION
Staff recommends that the Finance Committee review the proposed Stormwater Program Budget for FY 2025/26 and provide comments to staff.

BACKGROUND
Urban stormwater runoff has been identified as a major source of pollutants to the waters of the United States including San Francisco Bay. As a result, the Federal Environmental Protection Agency established regulations governing stormwater pollution that became effective on November 16, 1990. In California, the Regional Water Quality Control Board (RWQCB) enforces the federal regulations through its nine (9) regional boards. The San Francisco Bay Regional Water Quality Control Board (RWQCB) requires that Contra Costa County and the cities within the County submit an application for a stormwater permit on an annual basis through the MRP. Permit requirements are typically updated every five (5) years.

In order to maintain stormwater facilities and meet the requirements of the MRP, the City Council adopted Resolution No. 93-15, authorizing the Contra Costa County Board of Supervisors to direct the Contra Costa Flood Control District (District) to form a Stormwater

4.1 Packet Pg. 5
Utility Area (SUA) for San Ramon and establish a $23 per ERU annual assessment for FY 1993/94 and also a maximum limit of $35 per ERU was set.

The City Council then adopted Resolution No. 93-116, approving the formation of the SUA within San Ramon, and establishing a Program Group Costs Payment Agreement with the District. This Agreement allows the District to collect the annual assessment from San Ramon properties through the County Assessor's Office and for the disbursement of funds. Per this Agreement, the City must determine annually by May 1st the assessment per ERU for the forthcoming fiscal year and, by City Council Resolution, requests that the District adopt stormwater utility assessments based on the unit assessments. The County Board of Supervisors conducts the Countywide public hearing for the adoption of stormwater assessments in June. The County then collects the established stormwater assessment on the County property tax rolls.

In May 2012, the Contra Costa Clean Water Program (CCCWP) sponsored an initiative to create a property-related fee to fund stormwater activities Countywide. Based on a $22 per parcel fee, an estimated $616,489 would have been generated annually in San Ramon; however, this measure failed.

The City’s Stormwater Program is comprised of two components: the Countywide Program (CCCWP) and the San Ramon Stormwater Program. The Stormwater Program originally focused on storm drain and creek cleaning, street sweeping, public education, and inspection of private development construction sites. The CCCWP fulfills some of the RWQCB requirements on behalf of the members providing a cost savings for each participating municipality. On February 19, 2003, the RWQCB amended the Contra Costa Countywide Stormwater Permit to include treatment of stormwater runoff from new development and significant redevelopment projects.

DISCUSSION
Municipal Regional Permit (MRP)
On November 19, 2015, MRP 2.0 was formally adopted. Some of the significant actions mandated by the RWQCB in MRP 2.0 include:
• Monitoring and abatement of PCBs and mercury.
• Increased administration.
• Development of Trash Management Plans.
• Development and implementation of Green Infrastructure projects.

MRP 3.0 was adopted by the RWQCB on May 11, 2022, and became effective July 1, 2022.

New and revised provisions that impact San Ramon include:
• New updates to the Green Infrastructure requirements, including provisions that a minimum of five (5) acres of impervious surface be treated by San Ramon. • Require storm drain system maps to be updated.
• Require trash interception on private properties or prior to discharge of stormwater into the municipal storm drain system or receiving waters.
• Reduction of the triggering threshold to require C.3 (bioswale) treatment devices to 5,000

4.1 Packet Pg. 6
square feet for all projects.
• Added utility trenching to road reconstruction requirements. o One (1) acre threshold of contiguous impervious surfaces o Large utility projects (e.g. one (1) acre is a one (1) mile trench about 8 feet wide) o Permittees are responsible for requiring utility compliance • New monitoring and reporting requirements, including cost reporting. • Firefighting foam discharge reporting.
• Additional trash monitoring requirements.
• Additional pollutant monitoring to be done at the County Program level.

These and other provisions will have varying impacts on the City and the City’s finances. Some items are taken care of through the CCCWP in a relatively efficient manner but with impacts to the City’s contribution to the Program. Others have resulted in increased demands on staff time.

The City had already engaged in an effort to improve mapping of the City’s storm drain infrastructure through a combination of a PTAP grant, Citywide Drainage Infrastructure Projects (CIP 915548), and City GIS staff, which is complete but will require continual updates and maintenance.

As noted above, MRP 3.0 includes stricter provisions for treating stormwater from existing City improvements such as streets. These provisions require that the City treat stormwater runoff when pavement reconstruction is undertaken. Pavement reconstruction is defined as removing the pavement surface to the aggregate base layer. In addition, the Permit requires that San Ramon treat a minimum of five (5) acres of impervious surface. The treatment methods are described in the City’s Green Infrastructure Plan (GI Plan). The cost for these improvements is difficult to estimate, and staff’s approach is to maximize compliance with Green Infrastructure requirements in conjunction with redevelopment. This, in conjunction with other concepts that have been evaluated by staff, will likely result in some increased costs for the City during this permit cycle, as potential pavement reconstruction will increase costs.

There are no new funding mechanisms from the state or federal governments to provide for implementation of the GI Plan.

Equivalent Runoff Unit Methodology
The Stormwater Program is funded through assessments based on ERUs (Attachment A). The Chief Engineer of the Contra Costa County Flood Control and Water Conservation District is the Engineer of Work for the Stormwater Assessments. The methodology for assessments is based on impervious surface area, which in turn is related to parcel size and land use designation.

Impervious surfaces such as rooftops, patios, walkways, sidewalks, driveways, and parking areas are designed to channel stormwater to run off into the storm drain system. Stormwater washes pollutants that have accumulated on impervious surfaces into the system.

4.1 Packet Pg. 7
The ERU assessment is used to fund a diverse range of stormwater management and maintenance activities. These include:
• storm drain and catch basin maintenance and cleaning; • maintenance of flood control channels;
• maintenance of the stormwater quality ponds in the Dougherty Valley; • other trash load reduction efforts;
• participation in the Contra Costa Clean Water Program (CCCWP); and • compliance with various other requirements for monitoring and reporting that are contained in the City’s Municipal Regional Permit (MRP) issued by the Regional Water Quality Control Board (RWQCB), some of which are conducted jointly with other members of CCCWP.

Due to the increasing costs in providing these services, increasing requirements imposed on the City by the RWQCB through the MRP, and the failure of the 2012 Proposition 218 compliant vote to increase the ERU, the Stormwater Program Reserve Fund has been steadily decreasing.

In addition, CCCWP will experience increased costs in implementing collective provisions of MRP 3.0.

The City Council reaffirmed the maximum ERU rate of $35 on March 11, 2025 for FY 2025/26 with Resolution No. 2025-030.

Funding Options
The maximum ERU rate has been in place for approximately 22 years. Two options for generating additional revenue to cover Stormwater Program costs are: 1) legislative action allowing local municipalities to treat stormwater programs as a utility similar to water, sewer, and waste management; or 2) a ballot initiative through the Proposition 218 process.

As mentioned above, in May 2012, the CCCWP sponsored an initiative to create a propertyrelated fee to fund stormwater activities Countywide. Based on a $22 per-parcel fee, an estimated $616,489 would have been generated annually in San Ramon; however, this measure failed.

CCCWP is again contemplating a Countywide campaign to augment this funding in the future.

This sort of process is an expensive multi-year project, and there is no assurance that this initiative will be successful, especially because other items have recently passed such as sales tax increase measures.

Lastly, staff could consider independently taking an increased SUA to a ballot vote for all San Ramon property owners. As was the case in 2012, increased assessments across the County may not gain property owner approval. However, San Ramon moving alone toward such an adjustment may have an increased chance of passing given the generally high concern for the environment in San Ramon and that the funding would go directly to the City. The timing of such a balloting process may be dependent on the health of the overall City budget in the next several years, and other revenue-increasing measures.

4.1 Packet Pg. 8

FISCAL ANALYSIS
Budget Projection
The five-year budget projections for the Stormwater Program are summarized in Attachment B and indicate a growing need for General Fund subsidies increasing from $148,612 in FY 2025/26 to $373,066 in FY 2029/30. Redevelopment within the City will modestly affect the assessments collected but it is not expected to significantly change the need for General Fund contributions.

NEXT STEPS

1. The Stormwater Program Budget will be incorporated into the FY 2025/26 Budget as part of the annual budget adoption process.

2. The Contra Costa County Board of Supervisors will conduct the Countywide Public Hearing for the adoption of the stormwater assessments in June 2025.

ATTACHMENT
A - Equivalent Runoff Unit Methodology
B - Stormwater Program Five-Year Projection

4.1 Packet Pg. 9

EQUIVALENT RUNOFF UNIT (ERU)
This is defined as a single-family residential use on a parcel that ranges from 5,000 to 20,000 square feet. One residential parcel of such size would be assigned one ERU. Using this methodology, the following ERU values were established in 1994 (the land use types listed are only those applicable to San Ramon):

Classification Land Use ERU
Group A Residential (5,000 s.f. to 20,000 s.f.) 1.0 ERU/unit Group B Residential (less than 5,000 s.f. and all multi-family residential parcels)

0.7 ERU/unit
Group C Residential (greater than 20,000 s.f.) 1.7 ERU/unit Group D Golf courses and cemeteries 0.2 ERU/acre
Group G Community centers, churches, schools, and cultural facilities
7 ERU/acre
Group H Office buildings 9 ERU/acre
Group I Hotels, motels, and mobile home parks 10 ERU/acre Group J Industrial, commercial, and entertainment parcels (including corporation yards, theatres, shopping centers, restaurants, service stations)
12 ERU/acre
Group L Vacant land, agricultural land, government-owned properties used for public purposes
exempt

ATTACHMENT A

4.1.a
Packet Pg. 10
Attachment: A - Equivalent Runoff Unit Methodology (4641 : Proposed Stormwater Program Budget for FY 2025/26)

ATTACHMENT B
STORMWATER5-YEAR BUDGET PROJECTION
2023/24 2024/25
Year1
2024/25
Year2
2025/26
Year3
2026/27
Year4
2027/28
Years
2028/29
Year&
2029/30
FUND BALANCE- JULY1

REVENUES
$
Final
156,378
$
Adopted
34,088
$
Revised
34,088
$
Proposed
21,589
$
Estimated
-
$
Estimated
-
$
Estimated
-
$
Estimated
Assessment Revenue (Actuals lnlcude Group Costs, etc.) 831,298 1,224,500 1,224,500 1,261,995 1,268,995 1,275,995 1,282,995 1,289,995 Interest 2,178
Misc. Revenues (Fish Decals&Maintenance Reimbursement) 36 8,500 8,500 8,500 8,500 8,5008,500 8,500 Total Revenue, 833,611 1,233,000 1,233,000 1,270,495 1,2n,495 1,284,495 1,291,495 1,298,495

EXPENDITURES
Personnel• Engineering {Administration& Inspection) 278,496 299,834 299,834 320,333 336,350 353,167 370,825 389,367 Personnel• Public Services (Maintenance) 199,815 232,927 232,927 252,032 264,634 277,865 291,759 306,346 Estimated Personnel Savings (Staff Turnover) (48,308)
Contracts• Engineering (Group Costs, Inspection, end MRP Permit) 45,541 365,024 365,024 365,024 375,975 387,254 398,872 410,838 Contracts • Public Services (Maintenance) 425,188 381,031 381,031 487,707 502,338 517,408 532,931 548,919 Materials&Supplies 6,541 11,990 11,990 12,100 12,221 12,343 12,467 12,591 Other 220 3,000 3,000 3,500 3,500 3,500 3,500 3,500
Total Expenditure■ 955,802 1,293,806 1,245,498 1,440,696 1,495,017 1,551,538 1,610,353 1,871,561 Net Increase (Decrease) In Fund Balance (122,290) {60,806) (12,498) (170,201) (217,522) (267,043) (318,856) (373,066) FUND BALANCE- JUNE 30
$ 34,088$ (26,718)$ 21,589
$ (148,612)
$ (217,522)$ (267,043)$ (318,858)$ (373,066)

ESTIMATED GENERAL FUND CONTRIBUTION REQUIRED
$
-
$ (26,718)$
.
$ (148,612)
$ (217,522)$ (267,043)$ (318,858)$ (373,066)

4.1.b
Packet Pg. 11
Attachment: B - Stormwater Program Five-Year Projection (4641 : Proposed Stormwater Program Budget

FINANCE COMMITTEE STAFF REPORT
DATE: April 16, 2025
TO: Finance Committee/City Manager
FROM: Jennifer Wakeman, Finance Director
By: Miaoxia Joe, Administrative Analyst
SUBJECT: City of San Ramon Quarterly Investment Report for the Period Ending March 31, 2025

RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the Quarterly Investment Report for the period ending March 31, 2025, and forward it to the City Council for review.

BACKGROUND/DISCUSSION
State law requires that the City Council review the City Investment Report at least quarterly.

Copies of the Investment Report prepared by Meeder Public Funds, for the period ending March 31, 2025, the Investments Held by Trustees, and the Summary of Cash and Investments are attached for your review.

The March 31, 2025 Investment Report was prepared by Meeder Public Funds. The Investment Report is maintained on a daily basis to track investment yields, maturities, call dates, and market values. The Investments Held by Trustees and the Summary of Cash and Investments were prepared by staff.

The City’s investments are carried at fair value, as required by generally accepted accounting principles (GAAP). In accordance with GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Pools, the City adjusts the carrying value of its investments to reflect their fair value at each fiscal year end and includes the effects of these adjustments in income for that fiscal year.

FISCAL ANALYSIS
The balance of the City’s demand deposit accounts held with JP Morgan Chase Bank totaled $9.7 million as of March 31, 2025. This account is used for the City’s daily operations.

Total funds managed by Meeder Public Funds equaled $66.3 million at book value as of March 31, 2025. The portfolio consists of $19.2 million in federal agency securities, $32.3 million in

4.2 Packet Pg. 12
treasury securities, $5.5 million in supranationals, $4.6 million in corporate bonds, $3.5 million in negotiable CD’s, and $1.2 million in FDIC insured CD’s. The weighted average yield to maturity on investments is 3.33% and the weighted average days to maturity is 754 days, which is 86 days shorter than last quarter. Interest rates are 20 basis points higher than the previous quarter.

The overall objectives in managing the City’s investment portfolio are listed as follows in the order of importance: first, safeguarding principal; second, maintaining appropriate liquidity; and third, generating favorable long-term results relative to the City’s benchmark, the ICE BofAML 30-month average (MMA). To accomplish these objectives, Meeder Public Funds is directed to maintain a strategy designed to keep the portfolio’s results in line with the established benchmark, while actively managing the portfolio’s duration relative to the benchmark, sector allocation and yield curve placement to enhance performance.

The balance of the City’s Fidelity U.S. Government Money Market account held with US Bank totals $6.8 million and makes up 9.20% of the portfolio as of March 31, 2025. The current rate is

4.23%. This account is available on a daily basis for immediate cash flow requirements.

The City of San Ramon has $0.7 million invested with the State Treasurer’s Office (Local Agency Investment Fund). The current interest rate is 4.31% and makes up 0.90% of the portfolio. This account is available on a daily basis for immediate cash flow requirements.

The “Investments Held by Trustees” report was prepared by staff and is required supplementary information in the quarterly report to the City Council. Funds held by the trustee total $3.3 million. The 2019 Certificates of Participation (COP) investments managed by Meeder Public Funds total $0.1 million and are available for designated capital projects. The remaining $3.2 million of investments managed by the trustee pertain to City pension obligation bonds and are not available for general City purposes.

This investment portfolio is in conformity with the City of San Ramon’s adopted “Investment Policy.” The Treasurer’s cash management program provides sufficient liquidity to meet estimated future expenditures for a period of six months. Meeder Public Funds provides market values for securities under their management, while market prices of securities held in trust are obtained from the trustees’ monthly account statements.

FISCAL IMPLICATIONS
This report is for informational purposes only; there is no fiscal impact.

STEPS FOLLOWING APPROVAL
The report will be presented to the City Council for review and acceptance at the April 22, 2025, City Council meeting.

ATTACHMENT
A: Summary of Cash and Investments at March 31, 2025

4.2 Packet Pg. 13
B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, 2025
C: Investments Held by Trustees at March 31, 2025
D: Investment Terminology

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Demand deposits held with JP Morgan Chase Bank $ 9,749,283 Investment Portfolio:

Investments held with US Bank (Meeder Public Funds) 66,325,316 Fidelity US Government Money Market Funds held with US Bank 6,768,744 Investments held with Local Agency Investment Fund (LAIF) 664,419 Total Investment Portfolio 73,758,478
Investments held with Trustee 3,347,865
Total Cash and Investments $ 86,855,626
This investment portfolio is in conformity with the City of San Ramon's adopted investment policy. The Treasurer's cash management program provides sufficient liquidity to meet estimated future expenditures for a period of six months.

Prepared and approved by:

Miaoxia Joe, Finance Analyst
Approved by:

Jennifer Wakeman, Finance Director
Summary of Cash and Investments
For the Period March 31, 2025

4.2.a
Packet Pg. 15
Attachment: A: Summary of Cash and Investments at March 31, 2025 (4643 : Quarterly Investment Report) Investment
Report&LW\RI6ơQƝơPRQ$VRI0ơUFK

4.2.b
Packet Pg. 16
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31,

OBSERVATIONS AND EXPECTATIONS
• Market participants are expecting about three Federal Reserve rate cuts for 2025
• Fed Chair Powell recently stated that the labor market is stable• The Fed’s preferred inflation gauge remains above their target • Short-term and intermediate-term interest rates where slightly lower for March • The Federal Reserve
expressed at their most recent meeting (March) they plan to cut the Fed Funds rate by .50% this year. • At the end of March, the
futures market was pricing in about .75% of cuts this year. 2 SOURCE: BLOOMBERG AS OF 3/31/25

4.28%

4.13%

3.96%

3.80%

3.70%

3.57%

4.33%

3.25%

3.50%

3.75%

4.00%

4.25%

4.50%
May 25 Jun 25 Jul 25 Sep 25 Oct 25 Dec 25
Upcoming Fed Meeting Months
2025 Fed Funds Rate Per Futures Market by Fed Meeting Months

4.2.b
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31,
• The current rate of 4.1% is an extremely
low rate of unemployment by historical standards.
• Fed Chair Powell recently stated that the
labor market remains solid, with their estimate of the unemployment rate trending only slightly higher to 4.4% this year. • Core Personal Consumption Expenditure
YoY is the Fed’s preferred inflation gauge. Core excludes food and energy components. • Core PCE YoY is currently at 2.8%, not
quite at the Fed’s 2% target, but far below the 5.6% peak in 2022. • Economists surveyed by Bloomberg
expect Core PCE YoY will stay above the Fed’s target and finish the full year of 2025 at 2.5%. 3 SOURCES: BLOOMBERG, BUREAU OF LABOR STATISTICS
SOURCES: BLOOMBERG, BUREAU OF ECONOMIC ANALYSIS

00.10.20.30.40.50.60.70.80.91 0%
2%
4%
6%
8%
10%
12%
14%
16%
1948
1950
1953
1956
1959
1961
1964
1967
1970
1972
1975
1978
1981
1983
1986
1989
1992
1994
1997
2000
2003
2005
2008
2011
2014
2016
2019
2022
2025
U.S. Unemployment Rate

2.8%
0%
1%
2%
3%
4%
5%
6%
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-22
Mar-23
Jun-23
Sep-23
Dec-23
Mar-24
Jun-24
Sep-24
Dec-24
Mar-25
Core PCE YoY
Fed’s Target of 2%

4.2.b
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, 4 Treasury Rates Were Mixed for the Month of March
4 SOURCE: BLOOMBERG

3.60 3.80

4.00 4.20

4.40 4.60

4.80 3M 6M 1Y 2Y 3Yr 5Y 7Y 10Y 20Y 30Y
Percent
U.S. Treasury Yield Curve Change
3/31/25 2/28/25
0 (5) (6)
(10) (9) (7)
(4)
0 8 9
-20
-15
-10
-5
0 5
10 15
3M 6M 1Y 2Y 3Yr 5Y 7Y 10Y 20Y 30Y
Basis Points
Basis Point Change

4.2.b
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, &,7<2)6$15$021_0$5&+ǆǄǅǃǅǈ

Portfolio Summary 6Portfolio Overview 7Credit Quality 8Position Statement 9Amortization Schedule 13Accrued Interest Schedule 15Earnings by Fund 18Transaction Statement 21Income/Dividend Received 22Contribution/Withdrawals and Expenses 23Projected Cash Flows 24 Contents

4.2.b
Packet Pg. 20
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, 6 3ortIoOLo 6Xmmơr\
Par Value $74,163,162Principal Cost $73,429,828Book Value $73,758,478Market Value $73,558,650Unrealized Gain/Loss ($199,829)Accrued Interest $497,772Portfolio PositionMơturit\ 'istriEution 6ector Allocơtion • 1 U.S. Treasuries 43.70%• 1 U.S. Agencies 26.02%• 1 Money Market Funds 9.20%• 1 Supranational 7.49%• 1 Corporate Bonds 6.30%• 1 Negotiable CD's 4.72%• 1 Commercial Paper 1.67%• 1 LGIP 0.90% Weighted Average Yield to MaturityWeighted Average Maturity (Years) Portfolio EƉective Duration (Years)Weighted Average Life (Years)AA+Average Credit Rating CITY OF SAN RAMONMARC+ ǆǄ ǅǃǅǈ

4.2.b
Packet Pg. 21
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

Portfolio Overview

SECURITY TYPE PAR VALUE MARKET VALUE BOOK VALUE
Ǎ O)

PORT)OLIO
'AYS TO

MATURITY YIEL'
LGIP 664,418.58 664,418.58 664,418.58 0.90% 1 4.31Money Market Funds 6,768,743.81 6,768,743.81 6,768,743.81 9.20% 1 4.23Commercial Paper 1,250,000.00 1,228,302.78 1,228,302.78 1.67% 147 4.36U.S. Treasuries 32,550,000.00 32,142,558.62 32,277,043.56 43.70% 972 3.29U.S. Agencies 19,265,000.00 19,142,771.10 19,230,626.95 26.02% 683 2.69Negotiable CD's 3,472,000.00 3,473,348.68 3,469,255.92 4.72% 900 4.55Corporate Bonds 4,658,000.00 4,630,529.36 4,606,758.12 6.30% 704 3.87Supranational 5,535,000.00 5,507,976.70 5,513,328.53 7.49% 834 3.09 TOTAL 74,163,162.39 73,558,649.63 73,758,478.24 100.00% 754 3.33CAS+ A1' ACCRUE' I1TEREST Purchased Accrued Interest 5,958.53 5,958.53
TOTAL CAS+ A1' I1VESTME1TS 74,163,162.39 73,564,608.16 73,764,436.77 754 3.33TOTAL EARNINGS

CURRENT MONTH
196,932.04

4.2.b
Packet Pg. 22
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, 8 Credit 4uơlit\Allocơtion E\ ƝơtinJ
ƝơtinJ 'istriEution

MARKET VALUE ALLOCATION
AAA 12,276,720.51 16.69%AA+ 52,260,709.72 71.05%AA- 1,177,014.36 1.60%A+ 1,005,020.00 1.37%A 499,625.00 0.68%A- 973,490.00 1.32%A-1 1,228,302.78 1.67%NA 4,137,767.26 5.63% TOTAL 73,558,649.63 100.00%
S+ORT T(RM MON(Y MAR.(T F8N'S /*I3S RATIN*S

MARKET VALUE ALLOCATION
TOTAL 0.00 0.00%GRAN' TOTAL 73,558,649.63 100.00%
/ON* T(RM RATIN*S
Report reƋects ratings issued by Standard Poors
• 1 AAA 16.69%• 1 AA+ 71.05%
• 1 AA- 1.60%• 1 A+ 1.37%• 1 A 0.68%• 1 A- 1.32%• 1 A-1 1.67%• 1 NA 5.63% CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ 4.2.b
Packet Pg. 23
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

CUSIP 'ESCRIPTION

TRA'E 'ATE
SETTLE
'ATE PAR VALUE

PRINCIPAL COST

PURCHASE'

INTEREST TOTAL COST

YIEL' TO

MATURITY

MATURITY
'ATE
'AYS TO

MATURITY

MARKET PRICE

MARKET VALUE
UNREALI=E'

GAIN/LOSS

BOOK VALUE
Ǎ O)
MV
MOO'Y
S
S&P
RATING

CITY O) SAN RAMON, CALGIP
CALAIF California LAIF 03/31/2025 03/31/2025 664,418.58 664,418.58 0.00 664,418.58 4.31 1 1.00 664,418.58 0.00 664,418.58 0.90 NA LGIP TOTAL 664,418.58 664,418.58 0.00 664,418.58 4.31 1 1.00 664,418.58 0.00 664,418.58 0.90 NA

MONEY MARKET )UN'S
316175108 FIDELITY IMM:GOVT;I 03/31/2025 03/31/2025 6,768,743.81 6,768,743.81 0.00 6,768,743.81 4.23 1 1.00 6,768,743.81 0.00 6,768,743.81 9.20 Aaa AAA MONEY MARKET )UN'S TOTAL 6,768,743.81 6,768,743.81 0.00 6,768,743.81 4.23 1 1.00 6,768,743.81 0.00 6,768,743.81 9.20 AAACOMMERCIAL PAPER 21687AVR1 COOPERATIEVE UA 08/25/25 03/25/2025 03/26/2025 1,250,000.00 1,227,411.11 0.00 1,227,411.11 4.36 08/25/2025 147 98.26 1,228,302.78 0.00 1,228,302.78 1.67 P-1 A-1 COMMERCIAL PAPER TOTAL 1,250,000.00 1,227,411.11 0.00 1,227,411.11 4.36 147 98.26 1,228,302.78 0.00 1,228,302.78 1.67 A-1 U.S. TREASURIES
91282CAT8 US TREASURY 0.250 10/31/25 04/06/2021 04/06/2021 2,000,000.00 1,946,875.00 0.00 1,946,875.00 0.84 10/31/2025 214 97.75 1,955,000.00 (38,201.49) 1,993,201.49 2.66 Aaa AA+ 912828M56 US TREASURY 2.250 11/15/25 02/07/2022 02/07/2022 2,000,000.00 2,041,015.62 0.00 2,041,015.62 1.69 11/15/2025 229 98.85 1,976,953.12 (29,856.05) 2,006,809.17 2.69 Aaa AA+ 912828R36 US TREASURY 1.625 05/15/26 06/07/2022 06/07/2022 2,000,000.00 1,897,500.00 0.00 1,897,500.00 3.02 05/15/2026 410 97.37 1,947,343.76 (23,450.84) 1,970,794.60 2.65 Aaa AA+91282CCW9 US TREASURY 0.750 08/31/26 08/31/2021 08/31/2021 1,000,000.00 997,798.42 0.00 997,798.42 0.80 08/31/2026 518 95.61 956,093.75 (43,281.98) 999,375.73 1.30 Aaa AA+91282CCZ2 US TREASURY 0.875 09/30/26 10/13/2021 10/13/2021 1,000,000.00 990,351.56 0.00 990,351.56 1.08 09/30/2026 548 95.55 955,507.81 (41,576.99) 997,084.80 1.30 Aaa AA+ 91282CDG3 US TREASURY 1.125 10/31/26 02/07/2022 02/07/2022 2,000,000.00 1,941,093.76 0.00 1,941,093.76 1.78 10/31/2026 579 95.70 1,914,062.50 (66,195.45) 1,980,257.95 2.60 Aaa AA+ 912828U24 US TREASURY 2.000 11/15/26 03/14/2022 03/14/2022 2,000,000.00 2,003,593.76 0.00 2,003,593.76 1.96 11/15/2026 594 96.96 1,939,140.62 (62,109.50) 2,001,250.12 2.64 Aaa AA+ 912828X88 US TREASURY 2.375 05/15/27 02/07/2023 02/07/2023 2,000,000.00 1,882,421.88 0.00 1,882,421.88 3.88 05/15/2027 775 96.88 1,937,656.26 (3,868.87) 1,941,525.13 2.63 Aaa AA+ 91282CFU0 US TREASURY 4.125 10/31/27 02/23/2023 02/23/2023 2,000,000.00 1,992,109.38 0.00 1,992,109.38 4.22 10/31/2027 944 100.55 2,011,093.76 15,446.57 1,995,647.19 2.73 Aaa AA+9128283F5 US TREASURY 2.250 11/15/27 07/07/2023 07/07/2023 2,000,000.00 1,823,750.00 0.00 1,823,750.00 4.50 11/15/2027 959 95.92 1,918,437.50 24,593.13 1,893,844.37 2.61 Aaa AA+91282CHX2 US TREASURY 4.375 08/31/28 05/23/2024 05/23/2024 2,000,000.00 1,989,687.50 0.00 1,989,687.50 4.51 08/31/2028 1,249 101.47 2,029,375.00 37,625.61 1,991,749.39 2.76 Aaa AA+91282CJA0 US TREASURY 4.625 09/30/28 04/10/2024 04/10/2024 2,000,000.00 2,015,937.50 0.00 2,015,937.50 4.43 09/30/2028 1,279 102.33 2,046,562.50 34,088.59 2,012,473.92 2.78 Aaa AA+ Position Stơtement

4.2.b
Packet Pg. 24
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

CUSIP 'ESCRIPTION

TRA'E 'ATE
SETTLE
'ATE PAR VALUE

PRINCIPAL COST

PURCHASE'

INTEREST TOTAL COST

YIEL' TO

MATURITY

MATURITY
'ATE
'AYS TO

MATURITY

MARKET PRICE

MARKET VALUE
UNREALI=E'

GAIN/LOSS

BOOK VALUE
Ǎ O)
MV
MOO'Y
S
S&P
RATING
91282CJA0 US TREASURY 4.625 09/30/28 02/08/2024 02/08/2024 2,000,000.00 2,046,093.76 0.00 2,046,093.76 4.07 09/30/2028 1,279 102.33 2,046,562.50 11,804.82 2,034,757.68 2.78 Aaa AA+91282CJR3 US TREASURY 3.750 12/31/28 10/29/2024 10/30/2024 1,150,000.00 1,132,525.39 0.00 1,132,525.39 4.15 12/31/2028 1,371 99.41 1,143,261.72 8,991.18 1,134,270.54 1.55 Aaa AA+ 91282CJW2 US TREASURY 4.000 01/31/29 10/29/2024 10/30/2024 1,200,000.00 1,192,921.88 0.00 1,192,921.88 4.15 01/31/2029 1,402 100.28 1,203,375.00 9,760.36 1,193,614.64 1.64 Aaa AA+91282CLC3 US TREASURY 4.000 07/31/29 10/29/2024 10/30/2024 1,500,000.00 1,490,449.22 0.00 1,490,449.22 4.15 07/31/2029 1,583 100.26 1,503,867.20 12,580.77 1,491,286.42 2.04 Aaa AA+ 91282CFJ5 US TREASURY 3.125 08/31/29 09/27/2024 09/30/2024 1,500,000.00 1,471,230.47 0.00 1,471,230.47 3.55 08/31/2029 1,614 96.73 1,451,015.63 (23,131.62) 1,474,147.24 1.97 Aaa AA+ 91282CFL0 US TREASURY 3.875 09/30/29 11/06/2024 11/07/2024 1,600,000.00 1,571,750.00 0.00 1,571,750.00 4.28 09/30/2029 1,644 99.72 1,595,500.00 21,459.03 1,574,040.97 2.17 Aaa AA+ 91282CLR0 US TREASURY 4.125 10/31/29 11/06/2024 11/07/2024 1,600,000.00 1,590,125.00 1,276.24 1,591,401.24 4.26 10/31/2029 1,675 100.73 1,611,750.00 20,837.82 1,590,912.18 2.19 Aaa AA+ U.S. TREASURIES TOTAL 32,550,000.00 32,017,230.10 1,276.24 32,018,506.34 3.29 972 98.80 32,142,558.62 (134,484.93) 32,277,043.56 43.70 AA+U.S. AGENCIES 880591EW8 TVA 0.750 05/15/25 05/11/2020 05/11/2020 2,000,000.00 2,002,840.00 0.00 2,002,840.00 0.72 05/15/2025 45 99.55 1,991,040.00 (9,028.91) 2,000,068.91 2.71 Aaa AA+ 3137EAEX3
FREDDIE MAC 0.375 09/23/25 MTN
10/06/202010/06/2020 2,000,000.00 1,991,000.00 0.00 1,991,000.00 0.47 09/23/2025 176 98.15 1,963,020.00 (36,109.45) 1,999,129.45 2.67 Aaa AA+ 3135G06G3 FANNIE MAE 0.500 11/07/25 01/20/2021 01/20/2021 2,000,000.00 2,000,620.00 0.00 2,000,620.00 0.49 11/07/2025 221 97.80 1,955,980.00 (44,097.92) 2,000,077.92 2.66 Aaa AA+ 3130AL7M0 FHLBANKS 0.625 02/24/26 '25 02/24/2021 02/24/2021 2,000,000.00 2,000,000.00 0.00 2,000,000.00 0.63 02/24/2026 330 96.90 1,937,920.00 (62,080.00) 2,000,000.00 2.63 Aaa AA+ 3133EN7A2
FED FARM CR BNKS 3.625 10/26/26
02/07/202302/07/2023 2,000,000.00 1,972,388.00 0.00 1,972,388.00 4.03 10/26/2026 574 99.41 1,988,180.00 (150.85) 1,988,330.85 2.70 Aaa AA+ 3130AXU63 FHLBANKS 4.625 11/17/26 11/17/2023 11/17/2023 1,000,000.00 998,230.00 0.00 998,230.00 4.69 11/17/2026 596 100.97 1,009,660.00 10,622.07 999,037.93 1.37 Aaa AA+3130AQW66 FHLBANKS 2.080 02/25/27 '25 02/25/2022 02/25/2022 1,000,000.00 1,000,000.00 0.00 1,000,000.00 2.08 02/25/2027 696 96.16 961,640.00 (38,360.00) 1,000,000.00 1.31 Aaa AA+ 3130AUSN5 FHLBANKS 3.500 10/01/27 02/07/2023 02/07/2023 2,000,000.00 1,967,600.00 0.00 1,967,600.00 3.89 10/01/2027 914 98.67 1,973,300.00 (9,261.55) 1,982,561.55 2.68 Aaa AA+ 3130A07B0 FHLBANKS 4.000 09/01/28 10/31/2023 10/31/2023 1,265,000.00 1,214,564.45 0.00 1,214,564.45 4.94 09/01/2028 1,250 99.97 1,264,671.10 35,362.70 1,229,308.40 1.72 Aaa AA+ 3133EPC45
FED FARM CR BNKS 4.625 11/13/28
11/28/202311/28/2023 2,000,000.00 2,009,460.00 0.00 2,009,460.00 4.52 11/13/2028 1,323 102.17 2,043,420.00 36,513.66 2,006,906.34 2.78 Aaa AA+ 3133ERDH1
FED FARM CR BNKS 4.750 04/30/29
05/17/202405/17/2024 2,000,000.00 2,030,572.00 0.00 2,030,572.00 4.40 04/30/2029 1,491 102.70 2,053,940.00 28,734.40 2,025,205.60 2.79 Aaa AA+ U.S. AGENCIES TOTAL 19,265,000.00 19,187,274.45 0.00 19,187,274.45 2.69 683 99.40 19,142,771.10 (87,855.85) 19,230,626.95 26.02 AA+ Position Stơtement

4.2.b
Packet Pg. 25
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

CUSIP 'ESCRIPTION

TRA'E 'ATE
SETTLE
'ATE PAR VALUE

PRINCIPAL COST

PURCHASE'

INTEREST TOTAL COST

YIEL' TO

MATURITY

MATURITY
'ATE
'AYS TO

MATURITY

MARKET PRICE

MARKET VALUE
UNREALI=E'

GAIN/LOSS

BOOK VALUE
Ǎ O)
MV
MOO'Y
S
S&P
RATING

NEGOTIABLE C'
S
02007GM42 ALLY BANK 5.050 03/23/26 03/23/2023 03/23/2023 248,000.00 247,752.00 0.00 247,752.00 5.09 03/23/2026 357 99.92 247,795.64 (123.64) 247,919.29 0.34 NANA 02589AEN8 AM EX BK 5.000 03/23/26 03/22/2023 03/22/2023 248,000.00 247,752.00 0.00 247,752.00 5.04 03/23/2026 357 100.74 249,827.76 1,908.40 247,919.36 0.34 NANA910286GB3 UNITED FIDELITY 5.000 03/30/26 03/30/2023 03/30/2023 248,000.00 248,000.00 0.00 248,000.00 5.00 03/30/2026 364 99.90 247,752.03 (247.97) 248,000.00 0.34 NANA795451AK9 SALLIE MAE BNK 1.100 08/11/26 08/11/2021 08/11/2021 248,000.00 248,000.00 0.00 248,000.00 1.10 08/11/2026 498 96.06 238,236.24 (9,763.76) 248,000.00 0.32 NANA 108622PJ4
BRIDGEWATER BANK 5.100 11/03/26
11/06/202311/06/2023 248,000.00 247,628.00 0.00 247,628.00 5.15 11/03/2026 582 100.17 248,426.08 624.09 247,801.99 0.34 NANA 23204HQA9
CUSTOMERS BANK 4.050 08/13/27
08/05/2024
08/14/2024 248,000.00 247,628.00 0.00 247,628.00 4.10 08/13/2027 865 99.88 247,706.21 0.29 247,705.92 0.34 NANA 32114VCH8 FIRST BK MCH 4.600 03/15/28 03/15/2023 03/15/2023 248,000.00 248,000.00 0.00 248,000.00 4.60 03/15/2028 1,080 99.46 246,663.97 (1,336.03) 248,000.00 0.34 NANA 062119BK7 BANK FIVE 4.650 03/20/28 03/20/2023 03/20/2023 248,000.00 248,000.00 0.00 248,000.00 4.65 03/20/2028 1,085 102.04 253,056.72 5,056.72 248,000.00 0.34 NANA2546732U9 DISCOVER BANK 5.000 03/21/28 03/22/2023 03/22/2023 248,000.00 247,456.88 0.00 247,456.88 5.05 03/21/2028 1,086 100.52 249,298.94 1,621.92 247,677.02 0.34 NANA 12547CAX6 CIBC BANK 4.450 04/13/28 04/14/2023 04/14/2023 248,000.00 247,380.00 0.00 247,380.00 4.51 04/13/2028 1,109 99.06 245,679.99 (1,943.50) 247,623.49 0.33 NANA 857894Q77 STEARNS BANK 4.050 08/14/28 08/02/2024 08/13/2024 248,000.00 247,752.00 0.00 247,752.00 4.08 08/14/2028 1,232 99.92 247,791.18 0.15 247,791.03 0.34 NANA 949764HK3
WELLS FARGO BANK 5.050 11/07/28
11/07/202311/07/2023 248,000.00 247,451.92 0.00 247,451.92 5.10 11/07/2028 1,317 101.02 250,538.87 2,933.92 247,604.95 0.34 NANA 90355GHQ2 UBS USA 5.000 11/08/28 11/08/2023 11/08/2023 248,000.00 247,451.92 0.00 247,451.92 5.05 11/08/2028 1,318 100.86 250,140.52 2,535.87 247,604.65 0.34 NANA61768EE82 MORGAN PVT BNK 5.050 11/08/28
11/08/202311/08/2023 248,000.00 247,456.88 0.00 247,456.88 5.05 11/08/2028 1,318 100.98 250,434.52 2,826.30 247,608.22 0.34 NANA

NEGOTIABLE C'
S TOTAL 3,472,000.00 3,467,709.60 0.00 3,467,709.60 4.55 900 100.06 3,473,348.68 4,092.76 3,469,255.92 4.72 NA

CORPORATE BON'S
437076CM2 HOME DEPOT 2.700 04/15/25 '25 03/28/2022 03/28/2022 500,000.00 499,125.00 0.00 499,125.00 2.76 04/15/2025 15 99.93 499,625.00 (363.90) 499,988.90 0.68 A2A 637639AE5
NATL SECUR CLEAR 0.750 12/07/25 '25
01/07/202101/07/2021 1,000,000.00 1,004,130.00 0.00 1,004,130.00 0.66 12/07/2025 251 97.54 975,380.00 (25,167.92) 1,000,547.92 1.33 Aaa AA+ 89236TKJ3
TOYOTA MOTOR CRD 4.550 09/20/27 MTN
06/10/2024
06/11/2024 1,000,000.00 986,000.00 0.00 986,000.00 5.02 09/20/2027 903 100.50 1,005,020.00 15,588.36 989,431.64 1.37 A1 A+ Position Stơtement

4.2.b
Packet Pg. 26
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

CUSIP 'ESCRIPTION

TRA'E 'ATE
SETTLE
'ATE PAR VALUE

PRINCIPAL COST

PURCHASE'

INTEREST TOTAL COST

YIEL' TO

MATURITY

MATURITY
'ATE
'AYS TO

MATURITY

MARKET PRICE

MARKET VALUE
UNREALI=E'

GAIN/LOSS

BOOK VALUE
Ǎ O)
MV
MOO'Y
S
S&P
RATING
06051GGA1 BOFAML 3.248 10/21/27 '26 MTN 12/08/2023 12/08/2023 1,000,000.00 939,580.00 0.00 939,580.00 4.98 10/21/2027 934 97.35 973,490.00 13,435.30 960,054.70 1.32 A1 A592179KF1 METLIFE GBL FDG 5.050 01/06/28 12/08/2023 12/08/2023 1,158,000.00 1,156,135.62 0.00 1,156,135.62 5.09 01/06/2028 1,011 101.64 1,177,014.36 20,279.40 1,156,734.96 1.60 Aa3 AACORPORATE BON'S TOTAL 4,658,000.00 4,584,970.62 0.00 4,584,970.62 3.87 704 99.44 4,630,529.36 23,771.24 4,606,758.12 6.30 A+

SUPRANATIONAL
459058JL8 IBRD 0.500 10/28/25 MTN 02/04/2021 02/04/2021 2,035,000.00 2,033,473.75 0.00 2,033,473.75 0.52 10/28/2025 211 97.86 1,991,491.70 (43,322.29) 2,034,813.99 2.71 Aaa AAA 45818WFN1 IDB 4.850 07/19/27 MTN 05/24/2024 05/24/2024 2,000,000.00 2,008,860.00 0.00 2,008,860.00 4.70 07/19/2027 840 101.37 2,027,300.00 20,830.01 2,006,469.99 2.76 Aaa AAA 459058LN1 IBRD 3.875 10/16/29 MTN 11/14/2024 11/15/2024 1,500,000.00 1,469,736.00 4,682.29 1,474,418.29 4.33 10/16/2029 1,660 99.28 1,489,185.00 17,140.44 1,472,044.56 2.02 Aaa AAA SUPRANATIONAL TOTAL 5,535,000.00 5,512,069.75 4,682.29 5,516,752.04 3.09 834 99.53 5,507,976.70 (5,351.83) 5,513,328.53 7.49 AAA CITY OF SAN RAMON CA TOTA/ 74,163,162.39 73,429,828.02 5,958.53 73,435,786.55 3.33 754 73,558,649.63 (199,828.61) 73,758,478.24 100.00 AA+GRAN' TOTAL 74,163,162.39 73,429,828.02 5,958.53 73,435,786.55 3.33 754 73,558,649.63 (199,828.61) 73,758,478.24 100.00 AA+ Position Stơtement

4.2.b
Packet Pg. 27
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

Amortizơtion ScKedule

CUSIP 'ESCRIPTION PAR VALUE

PRINCIPAL
COST

ORIGINAL

PREMIUM OR
'ISCOUNT

BEGINNING

BOOK VALUE

CURRENT

PERIO' AMORT

EN'ING BOOK
VALUE
TOTAL

AMORTIZATION

UNAMORTIZE'

BALANCE

CITY O) SAN RAMON, CA
02007GM42 ALLY BANK 5.050 03/23/26 248,000.00 247,752.00 (248.00) 247,912.26 7.03 247,919.29 167.29 (80.71)02589AEN8 AM EX BK 5.000 03/23/26 248,000.00 247,752.00 (248.00) 247,912.34 7.02 247,919.36 167.36 (80.64)062119BK7 BANK FIVE 4.650 03/20/28 248,000.00 248,000.00 0.00 248,000.00 0.00 248,000.00 0.00 0.0006051GGA1 BOFAML 3.248 10/21/27 '26 MTN 1,000,000.00 939,580.00 (60,420.00) 958,727.47 1,327.23 960,054.70 20,474.70 (39,945.30)108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 248,000.00 247,628.00 (372.00) 247,791.43 10.57 247,801.99 173.99 (198.01)12547CAX6 CIBC BANK 4.450 04/13/28 248,000.00 247,380.00 (620.00) 247,612.96 10.53 247,623.49 243.49 (376.51)21687AVR1 COOPERATIEVE UA 08/25/25 1,250,000.00 1,227,411.11 (22,588.89) 0.00 891.67 1,228,302.78 891.67 (21,697.22)23204HQA9 CUSTOMERS BANK 4.050 08/13/27 248,000.00 247,628.00 (372.00) 247,695.36 10.55 247,705.92 77.92 (294.08)2546732U9 DISCOVER BANK 5.000 03/21/28 248,000.00 247,456.88 (543.12) 247,667.79 9.23 247,677.02 220.14 (322.98)3135G06G3 FANNIE MAE 0.500 11/07/25 2,000,000.00 2,000,620.00 620.00 2,000,088.90 (10.98) 2,000,077.92 (542.08) 77.923133EN7A2 FED FARM CR BNKS 3.625 10/26/26 2,000,000.00 1,972,388.00 (27,612.00) 1,987,699.53 631.32 1,988,330.85 15,942.85 (11,669.15)3133EPC45 FED FARM CR BNKS 4.625 11/13/28 2,000,000.00 2,009,460.00 9,460.00 2,007,068.29 (161.95) 2,006,906.34 (2,553.66) 6,906.343133ERDH1 FED FARM CR BNKS 4.750 04/30/29 2,000,000.00 2,030,572.00 30,572.00 2,025,730.01 (524.41) 2,025,205.60 (5,366.40) 25,205.603130AL7M0 FHLBANKS 0.625 02/24/26 '25 2,000,000.00 2,000,000.00 0.00 2,000,000.00 0.00 2,000,000.00 0.00 0.003130AQW66 FHLBANKS 2.080 02/25/27 '25 1,000,000.00 1,000,000.00 0.00 1,000,000.00 0.00 1,000,000.00 0.00 0.003130AUSN5 FHLBANKS 3.500 10/01/27 2,000,000.00 1,967,600.00 (32,400.00) 1,981,969.44 592.11 1,982,561.55 14,961.55 (17,438.45)3130A07B0 FHLBANKS 4.000 09/01/28 1,265,000.00 1,214,564.45 (50,435.55) 1,228,422.54 885.86 1,229,308.40 14,743.95 (35,691.60)3130AXU63 FHLBANKS 4.625 11/17/26 1,000,000.00 998,230.00 (1,770.00) 998,987.81 50.12 999,037.93 807.93 (962.07)32114VCH8 FIRST BK MCH 4.600 03/15/28 248,000.00 248,000.00 0.00 248,000.00 0.00 248,000.00 0.00 0.003137EAEX3 FREDDIE MAC 0.375 09/23/25 MTN 2,000,000.00 1,991,000.00 (9,000.00) 1,998,975.24 154.21 1,999,129.45 8,129.45 (870.55)437076CM2 HOME DEPOT 2.700 04/15/25 '25 500,000.00 499,125.00 (875.00) 499,964.32 24.58 499,988.90 863.90 (11.10)459058JL8 IBRD 0.500 10/28/25 MTN 2,035,000.00 2,033,473.75 (1,526.25) 2,034,786.53 27.46 2,034,813.99 1,340.24 (186.01)459058LN1 IBRD 3.875 10/16/29 MTN 1,500,000.00 1,469,736.00 (30,264.00) 1,471,522.18 522.37 1,472,044.56 2,308.56 (27,955.44)45818WFN1 IDB 4.850 07/19/27 MTN 2,000,000.00 2,008,860.00 8,860.00 2,006,709.04 (239.06) 2,006,469.99 (2,390.01) 6,469.99592179KF1 METLIFE GBL FDG 5.050 01/06/28 1,158,000.00 1,156,135.62 (1,864.38) 1,156,696.13 38.83 1,156,734.96 599.34 (1,265.04)61768EE82 MORGAN PVT BNK 5.050 11/08/28 248,000.00 247,456.88 (543.12) 247,599.00 9.22 247,608.22 151.34 (391.78)637639AE5 NATL SECUR CLEAR 0.750 12/07/25 '25 1,000,000.00 1,004,130.00 4,130.00 1,000,625.13 (77.21) 1,000,547.92 (3,582.08) 547.92795451AK9 SALLIE MAE BNK 1.100 08/11/26 248,000.00 248,000.00 0.00 248,000.00 0.00 248,000.00 0.00 0.00

4.2.b
Packet Pg. 28
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ
4
Amortizơtion ScKedule

CUSIP 'ESCRIPTION PAR VALUE

PRINCIPAL
COST

ORIGINAL

PREMIUM OR
'ISCOUNT

BEGINNING

BOOK VALUE

CURRENT

PERIO' AMORT

EN'ING BOOK
VALUE
TOTAL

AMORTIZATION

UNAMORTIZE'

BALANCE
857894Q77 STEARNS BANK 4.050 08/14/28 248,000.00 247,752.00 (248.00) 247,785.77 5.26 247,791.03 39.03 (208.97)89236TKJ3 TOYOTA MOTOR CRD 4.550 09/20/27 MTN 1,000,000.00 986,000.00 (14,000.00) 989,068.42 363.21 989,431.64 3,431.64 (10,568.36)880591EW8 TVA 0.750 05/15/25 2,000,000.00 2,002,840.00 2,840.00 2,000,117.47 (48.55) 2,000,068.91 (2,771.09) 68.9190355GHQ2 UBS USA 5.000 11/08/28 248,000.00 247,451.92 (548.08) 247,595.34 9.31 247,604.65 152.73 (395.35)910286GB3 UNITED FIDELITY 5.000 03/30/26 248,000.00 248,000.00 0.00 248,000.00 0.00 248,000.00 0.00 0.00912828ZF0 UNITED STATES TREASURY 0.5 03/31/2025 2,000,000.00 1,998,359.38 (1,640.62) 1,999,963.22 36.78 0.00 1,640.62 0.0091282CAT8 US TREASURY 0.250 10/31/25 2,000,000.00 1,946,875.00 (53,125.00) 1,992,212.04 989.45 1,993,201.49 46,326.49 (6,798.51)91282CCW9 US TREASURY 0.750 08/31/26 1,000,000.00 997,798.42 (2,201.58) 999,338.30 37.43 999,375.73 1,577.31 (624.27)91282CCZ2 US TREASURY 0.875 09/30/26 1,000,000.00 990,351.56 (9,648.44) 996,919.59 165.21 997,084.80 6,733.24 (2,915.20)91282CDG3 US TREASURY 1.125 10/31/26 2,000,000.00 1,941,093.76 (58,906.24) 1,979,199.12 1,058.83 1,980,257.95 39,164.19 (19,742.05)912828R36 US TREASURY 1.625 05/15/26 2,000,000.00 1,897,500.00 (102,500.00) 1,968,580.99 2,213.61 1,970,794.60 73,294.60 (29,205.40) 912828U24 US TREASURY 2.000 11/15/26 2,000,000.00 2,003,593.76 3,593.76 2,001,315.47 (65.35) 2,001,250.12 (2,343.64) 1,250.12912828M56 US TREASURY 2.250 11/15/25 2,000,000.00 2,041,015.62 41,015.62 2,007,734.98 (925.81) 2,006,809.17 (34,206.45) 6,809.179128283F5 US TREASURY 2.250 11/15/27 2,000,000.00 1,823,750.00 (176,250.00) 1,890,409.28 3,435.10 1,893,844.37 70,094.37 (106,155.63)912828X88 US TREASURY 2.375 05/15/27 2,000,000.00 1,882,421.88 (117,578.12) 1,939,183.11 2,342.02 1,941,525.13 59,103.25 (58,474.87)91282CFJ5 US TREASURY 3.125 08/31/29 1,500,000.00 1,471,230.47 (28,769.53) 1,473,650.38 496.86 1,474,147.24 2,916.77 (25,852.76)91282CJR3 US TREASURY 3.750 12/31/28 1,150,000.00 1,132,525.39 (17,474.61) 1,133,914.62 355.92 1,134,270.54 1,745.15 (15,729.46)91282CFL0 US TREASURY 3.875 09/30/29 1,600,000.00 1,571,750.00 (28,250.00) 1,573,551.17 489.79 1,574,040.97 2,290.97 (25,959.03)91282CJW2 US TREASURY 4.000 01/31/29 1,200,000.00 1,192,921.88 (7,078.12) 1,193,473.36 141.29 1,193,614.64 692.76 (6,385.36)91282CLC3 US TREASURY 4.000 07/31/29 1,500,000.00 1,490,449.22 (9,550.78) 1,491,115.67 170.75 1,491,286.42 837.20 (8,713.58)91282CFU0 US TREASURY 4.125 10/31/27 2,000,000.00 1,992,109.38 (7,890.62) 1,995,504.10 143.09 1,995,647.19 3,537.81 (4,352.81)91282CLR0 US TREASURY 4.125 10/31/29 1,600,000.00 1,590,125.00 (9,875.00) 1,590,743.88 168.29 1,590,912.18 787.18 (9,087.82)91282CHX2 US TREASURY 4.375 08/31/28 2,000,000.00 1,989,687.50 (10,312.50) 1,991,544.45 204.94 1,991,749.39 2,061.89 (8,250.61)91282CJA0 US TREASURY 4.625 09/30/28 2,000,000.00 2,046,093.76 46,093.76 2,035,600.79 (843.11) 2,034,757.68 (11,336.08) 34,757.6891282CJA0 US TREASURY 4.625 09/30/28 2,000,000.00 2,015,937.50 15,937.50 2,012,776.49 (302.58) 2,012,473.92 (3,463.59) 12,473.92949764HK3 WELLS FARGO BANK 5.050 11/07/28 248,000.00 247,451.92 (548.08) 247,595.64 9.31 247,604.95 153.03 (395.05) TOTAL 68,730,000.00 67,995,025.01 (734,974.99) 67,083,057.37 14,847.37 66,325,315.85 330,290.84 (404,684.15)GRAN' TOTAL 68,730,000.00 67,995,025.01 (734,974.99) 67,083,057.37 14,847.37 66,325,315.85 330,290.84 (404,684.15)

4.2.b
Packet Pg. 29
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

Accrued Interest ScKedule

I'ENTI)IER 'ESCRIPTION SETTLE 'ATE PAR VALUE

PRINCIPAL
COST

BEGINNING

ACCRUE'

INTEREST

PURCHASE'

INTEREST

CURRENT
PERIO'

ACCRUAL

INTEREST

RECEIVE'
EN'ING

ACCRUE'

INTEREST

CITY O) SAN RAMON, CA
02007GM42 ALLY BANK 5.050 03/23/26 2023-03-23 248,000.00 247,752.00 5,455.66 0.00 1,063.68 6,210.53 308.8102589AEN8 AM EX BK 5.000 03/23/26 2023-03-22 248,000.00 247,752.00 5,401.64 0.00 1,053.15 6,149.04 305.75062119BK7 BANK FIVE 4.650 03/20/28 2023-03-20 248,000.00 248,000.00 284.35 0.00 979.43 884.65 379.1306051GGA1 BOFAML 3.248 10/21/27 '26 MTN 2023-12-08 1,000,000.00 939,580.00 11,728.89 0.00 2,706.67 0.00 14,435.56108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 2023-11-06 248,000.00 247,628.00 900.95 0.00 1,074.22 970.26 1,004.9112547CAX6 CIBC BANK 4.450 04/13/28 2023-04-14 248,000.00 247,380.00 4,172.52 0.00 937.30 0.00 5,109.8221687AVR1 COOPERATIEVE UA 08/25/25 2025-03-26 1,250,000.00 1,227,411.11 0.00 0.00 0.00 0.00 0.0023204HQA9 CUSTOMERS BANK 4.050 08/13/27 2024-08-14 248,000.00 247,628.00 412.77 0.00 853.05 0.00 1,265.82CALAIF California LAIF 2025-03-31 664,418.58 664,418.58 0.00 0.00 0.00 0.00 0.002546732U9 DISCOVER BANK 5.000 03/21/28 2023-03-22 248,000.00 247,456.88 5,435.62 0.00 1,053.15 6,149.04 339.733135G06G3 FANNIE MAE 0.500 11/07/25 2021-01-20 2,000,000.00 2,000,620.00 3,166.67 0.00 833.33 0.00 4,000.003133EN7A2 FED FARM CR BNKS 3.625 10/26/26 2023-02-07 2,000,000.00 1,972,388.00 25,173.61 0.00 6,041.67 0.00 31,215.283133EPC45 FED FARM CR BNKS 4.625 11/13/28 2023-11-28 2,000,000.00 2,009,460.00 27,750.00 0.00 7,708.33 0.00 35,458.333133ERDH1 FED FARM CR BNKS 4.750 04/30/29 2024-05-17 2,000,000.00 2,030,572.00 31,930.56 0.00 7,916.67 0.00 39,847.223130AL7M0 FHLBANKS 0.625 02/24/26 '25 2021-02-24 2,000,000.00 2,000,000.00 243.06 0.00 1,041.67 0.00 1,284.723130AQW66 FHLBANKS 2.080 02/25/27 '25 2022-02-25 1,000,000.00 1,000,000.00 346.67 0.00 1,733.33 0.00 2,080.003130AUSN5 FHLBANKS 3.500 10/01/27 2023-02-07 2,000,000.00 1,967,600.00 29,166.67 0.00 5,833.33 0.00 35,000.003130A07B0 FHLBANKS 4.000 09/01/28 2023-10-31 1,265,000.00 1,214,564.45 25,300.00 0.00 4,216.67 25,300.00 4,216.673130AXU63 FHLBANKS 4.625 11/17/26 2023-11-17 1,000,000.00 998,230.00 13,361.11 0.00 3,854.17 0.00 17,215.28316175108 FIDELITY IMM:GOVT;I 2025-03-31 6,768,743.81 6,768,743.81 12,189.93 0.00 20,283.06 12,189.93 20,283.0632114VCH8 FIRST BK MCH 4.600 03/15/28 2023-03-15 248,000.00 248,000.00 437.57 0.00 968.89 875.13 531.333137EAEX3 FREDDIE MAC 0.375 09/23/25 MTN 2020-10-06 2,000,000.00 1,991,000.00 3,291.67 0.00 625.00 3,750.00 166.67437076CM2 HOME DEPOT 2.700 04/15/25 '25 2022-03-28 500,000.00 499,125.00 5,100.00 0.00 1,125.00 0.00 6,225.00459058JL8 IBRD 0.500 10/28/25 MTN 2021-02-04 2,035,000.00 2,033,473.75 3,476.46 0.00 847.92 0.00 4,324.38459058LN1 IBRD 3.875 10/16/29 MTN 2024-11-15 1,500,000.00 1,469,736.00 21,796.88 0.00 4,843.75 0.00 26,640.6345818WFN1 IDB 4.850 07/19/27 MTN 2024-05-24 2,000,000.00 2,008,860.00 11,316.67 0.00 8,083.33 0.00 19,400.00592179KF1 METLIFE GBL FDG 5.050 01/06/28 2023-12-08 1,158,000.00 1,156,135.62 8,934.29 0.00 4,873.25 0.00 13,807.5461768EE82 MORGAN PVT BNK 5.050 11/08/28 2023-11-08 248,000.00 247,456.88 3,877.29 0.00 1,063.68 0.00 4,940.98

4.2.b
Packet Pg. 30
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ
6
Accrued Interest ScKedule

I'ENTI)IER 'ESCRIPTION SETTLE 'ATE PAR VALUE

PRINCIPAL
COST

BEGINNING

ACCRUE'

INTEREST

PURCHASE'

INTEREST

CURRENT
PERIO'

ACCRUAL

INTEREST

RECEIVE'
EN'ING

ACCRUE'

INTEREST
637639AE5 NATL SECUR CLEAR 0.750 12/07/25 '25 2021-01-07 1,000,000.00 1,004,130.00 1,750.00 0.00 625.00 0.00 2,375.00795451AK9 SALLIE MAE BNK 1.100 08/11/26 2021-08-11 248,000.00 248,000.00 134.53 0.00 231.69 0.00 366.22857894Q77 STEARNS BANK 4.050 08/14/28 2024-08-13 248,000.00 247,752.00 440.28 0.00 853.05 0.00 1,293.3489236TKJ3 TOYOTA MOTOR CRD 4.550 09/20/27 MTN 2024-06-11 1,000,000.00 986,000.00 20,348.61 0.00 3,791.67 22,750.00 1,390.28880591EW8 TVA 0.750 05/15/25 2020-05-11 2,000,000.00 2,002,840.00 4,416.67 0.00 1,250.00 0.00 5,666.6790355GHQ2 UBS USA 5.000 11/08/28 2023-11-08 248,000.00 247,451.92 713.42 0.00 1,053.15 951.23 815.34910286GB3 UNITED FIDELITY 5.000 03/30/26 2023-03-30 248,000.00 248,000.00 33.97 0.00 1,053.15 1,019.18 67.95912828ZF0 UNITED STATES TREASURY 0.5 03/31/2025 2021-07-23 0.00 0.00 4,175.82 0.00 824.18 5,000.00 0.00 91282CAT8 US TREASURY 0.250 10/31/25 2021-04-06 2,000,000.00 1,946,875.00 1,671.27 0.00 428.18 0.00 2,099.4591282CCW9 US TREASURY 0.750 08/31/26 2021-08-31 1,000,000.00 997,798.42 20.38 0.00 631.79 0.00 652.1791282CCZ2 US TREASURY 0.875 09/30/26 2021-10-13 1,000,000.00 990,351.56 3,653.85 0.00 745.06 4,375.00 23.9191282CDG3 US TREASURY 1.125 10/31/26 2022-02-07 2,000,000.00 1,941,093.76 7,520.72 0.00 1,926.80 0.00 9,447.51912828R36 US TREASURY 1.625 05/15/26 2022-06-07 2,000,000.00 1,897,500.00 9,516.57 0.00 2,783.15 0.00 12,299.72912828U24 US TREASURY 2.000 11/15/26 2022-03-14 2,000,000.00 2,003,593.76 11,712.71 0.00 3,425.41 0.00 15,138.12912828M56 US TREASURY 2.250 11/15/25 2022-02-07 2,000,000.00 2,041,015.62 13,176.80 0.00 3,853.59 0.00 17,030.399128283F5 US TREASURY 2.250 11/15/27 2023-07-07 2,000,000.00 1,823,750.00 13,176.80 0.00 3,853.59 0.00 17,030.39912828X88 US TREASURY 2.375 05/15/27 2023-02-07 2,000,000.00 1,882,421.88 13,908.84 0.00 4,067.68 0.00 17,976.52 91282CFJ5 US TREASURY 3.125 08/31/29 2024-09-30 1,500,000.00 1,471,230.47 127.38 0.00 3,948.71 0.00 4,076.0991282CJR3 US TREASURY 3.750 12/31/28 2024-10-30 1,150,000.00 1,132,525.39 7,147.79 0.00 3,693.02 0.00 10,840.8191282CFL0 US TREASURY 3.875 09/30/29 2024-11-07 1,600,000.00 1,571,750.00 25,890.11 0.00 5,279.29 31,000.00 169.4091282CJW2 US TREASURY 4.000 01/31/29 2024-10-30 1,200,000.00 1,192,921.88 3,845.30 0.00 4,110.50 0.00 7,955.8091282CLC3 US TREASURY 4.000 07/31/29 2024-10-30 1,500,000.00 1,490,449.22 4,806.63 0.00 5,138.12 0.00 9,944.7591282CFU0 US TREASURY 4.125 10/31/27 2023-02-23 2,000,000.00 1,992,109.38 27,575.97 0.00 7,064.92 0.00 34,640.8891282CLR0 US TREASURY 4.125 10/31/29 2024-11-07 1,600,000.00 1,590,125.00 22,060.77 0.00 5,651.93 0.00 27,712.7191282CHX2 US TREASURY 4.375 08/31/28 2024-05-23 2,000,000.00 1,989,687.50 237.77 0.00 7,370.92 0.00 7,608.7091282CJA0 US TREASURY 4.625 09/30/28 2024-04-10 2,000,000.00 2,015,937.50 38,626.37 0.00 7,876.36 46,250.00 252.7391282CJA0 US TREASURY 4.625 09/30/28 2024-02-08 2,000,000.00 2,046,093.76 38,626.37 0.00 7,876.36 46,250.00 252.73949764HK3 WELLS FARGO BANK 5.050 11/07/28 2023-11-07 248,000.00 247,451.92 754.87 0.00 1,063.69 960.75 857.81

4.2.b
Packet Pg. 31
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

Accrued Interest ScKedule

I'ENTI)IER 'ESCRIPTION SETTLE 'ATE PAR VALUE

PRINCIPAL
COST

BEGINNING

ACCRUE'

INTEREST

PURCHASE'

INTEREST

CURRENT
PERIO'

ACCRUAL

INTEREST

RECEIVE'
EN'ING

ACCRUE'

INTEREST
TOTAL 74,163,162.39 73,429,828.02 536,722.06 0.00 182,084.67 221,034.74 497,771.99GRAN' TOTAL 74,163,162.39 73,429,828.02 536,722.06 0.00 182,084.67 221,034.74 497,771.99

4.2.b
Packet Pg. 32
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ
8
EơrninJs E\ )und

CUSIP 'ESCRIPTION

EN'ING PAR
VALUE

BEGINNING

BOOK VALUE

EN'ING BOOK
VALUE
)INAL

MATURITY
COUPON

RATE YIEL'

INTEREST
EARNE'
NET

AMORTIZATION/

ACCRETION
INCOME

NET REALIZE'

GAIN/LOSS

A'-USTE'

INTEREST

EARNINGS

CITY O) SAN RAMON, CA
02007GM42 ALLY BANK 5.050 03/23/26 248,000.00 247,912.26 247,919.29 03/23/2026 5.05 5.09 1,063.68 7.03 0.00 1,070.7102589AEN8 AM EX BK 5.000 03/23/26 248,000.00 247,912.34 247,919.36 03/23/2026 5.00 5.04 1,053.15 7.02 0.00 1,060.1706051GGA1 BOFAML 3.248 10/21/27 '26 MTN 1,000,000.00 958,727.47 960,054.70 10/21/2027 3.25 4.98 2,706.67 1,327.23 0.00 4,033.90062119BK7 BANK FIVE 4.650 03/20/28 248,000.00 248,000.00 248,000.00 03/20/2028 4.65 4.65 979.43 0.00 0.00 979.43108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 248,000.00 247,791.43 247,801.99 11/03/2026 5.10 5.15 1,074.22 10.57 0.00 1,084.7812547CAX6 CIBC BANK 4.450 04/13/28 248,000.00 247,612.96 247,623.49 04/13/2028 4.45 4.51 937.30 10.53 0.00 947.8421687AVR1 COOPERATIEVE UA 08/25/25 1,250,000.00 0.00 1,228,302.78 08/25/2025 0.00 4.36 0.00 891.67 0.00 891.6723204HQA9 CUSTOMERS BANK 4.050 08/13/27 248,000.00 247,695.36 247,705.92 08/13/2027 4.05 4.10 853.05 10.55 0.00 863.602546732U9 DISCOVER BANK 5.000 03/21/28 248,000.00 247,667.79 247,677.02 03/21/2028 5.00 5.05 1,053.15 9.23 0.00 1,062.38 3130A07B0 FHLBANKS 4.000 09/01/28 1,265,000.00 1,228,422.54 1,229,308.40 09/01/2028 4.00 4.94 4,216.67 885.86 0.00 5,102.533130AL7M0 FHLBANKS 0.625 02/24/26 '25 2,000,000.00 2,000,000.00 2,000,000.00 02/24/2026 0.63 0.63 1,041.67 0.00 0.00 1,041.673130AQW66 FHLBANKS 2.080 02/25/27 '25 1,000,000.00 1,000,000.00 1,000,000.00 02/25/2027 2.08 2.08 1,733.33 0.00 0.00 1,733.333130AUSN5 FHLBANKS 3.500 10/01/27 2,000,000.00 1,981,969.44 1,982,561.55 10/01/2027 3.50 3.89 5,833.33 592.11 0.00 6,425.443130AXU63 FHLBANKS 4.625 11/17/26 1,000,000.00 998,987.81 999,037.93 11/17/2026 4.63 4.69 3,854.17 50.12 0.00 3,904.293133EN7A2 FED FARM CR BNKS 3.625 10/26/26 2,000,000.00 1,987,699.53 1,988,330.85 10/26/2026 3.63 4.03 6,041.67 631.32 0.00 6,672.98 3133EPC45 FED FARM CR BNKS 4.625 11/13/28 2,000,000.00 2,007,068.29 2,006,906.34 11/13/2028 4.63 4.52 7,708.33 (161.95) 0.00 7,546.38 3133ERDH1 FED FARM CR BNKS 4.750 04/30/29 2,000,000.00 2,025,730.01 2,025,205.60 04/30/2029 4.75 4.40 7,916.67 (524.41) 0.00 7,392.25 3135G06G3 FANNIE MAE 0.500 11/07/25 2,000,000.00 2,000,088.90 2,000,077.92 11/07/2025 0.50 0.49 833.33 (10.98) 0.00 822.353137EAEX3 FREDDIE MAC 0.375 09/23/25 MTN 2,000,000.00 1,998,975.24 1,999,129.45 09/23/2025 0.38 0.47 625.00 154.21 0.00 779.21 316175108 FIDELITY IMM:GOVT;I 6,768,743.81 5,775,120.18 6,768,743.81 03/31/2025 4.23 4.23 20,283.06 0.00 0.00 20,283.0632114VCH8 FIRST BK MCH 4.600 03/15/28 248,000.00 248,000.00 248,000.00 03/15/2028 4.60 4.60 968.89 0.00 0.00 968.89437076CM2 HOME DEPOT 2.700 04/15/25 '25 500,000.00 499,964.32 499,988.90 04/15/2025 2.70 2.76 1,125.00 24.58 0.00 1,149.58 45818WFN1 IDB 4.850 07/19/27 MTN 2,000,000.00 2,006,709.04 2,006,469.99 07/19/2027 4.85 4.70 8,083.33 (239.06) 0.00 7,844.28459058JL8 IBRD 0.500 10/28/25 MTN 2,035,000.00 2,034,786.53 2,034,813.99 10/28/2025 0.50 0.52 847.92 27.46 0.00 875.38 459058LN1 IBRD 3.875 10/16/29 MTN 1,500,000.00 1,471,522.18 1,472,044.56 10/16/2029 3.88 4.33 4,843.75 522.37 0.00 5,366.12

4.2.b
Packet Pg. 33
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

EơrninJs E\ )und

CUSIP 'ESCRIPTION

EN'ING PAR
VALUE

BEGINNING

BOOK VALUE

EN'ING BOOK
VALUE
)INAL

MATURITY
COUPON

RATE YIEL'

INTEREST
EARNE'
NET

AMORTIZATION/

ACCRETION
INCOME

NET REALIZE'

GAIN/LOSS

A'-USTE'

INTEREST

EARNINGS
592179KF1 METLIFE GBL FDG 5.050 01/06/28 1,158,000.00 1,156,696.13 1,156,734.96 01/06/2028 5.05 5.09 4,873.25 38.83 0.00 4,912.0861768EE82 MORGAN PVT BNK 5.050 11/08/28 248,000.00 247,599.00 247,608.22 11/08/2028 5.05 5.05 1,063.68 9.22 0.00 1,072.90637639AE5 NATL SECUR CLEAR 0.750 12/07/25 '25 1,000,000.00 1,000,625.13 1,000,547.92 12/07/2025 0.75 0.66 625.00 (77.21) 0.00 547.79795451AK9 SALLIE MAE BNK 1.100 08/11/26 248,000.00 248,000.00 248,000.00 08/11/2026 1.10 1.10 231.69 0.00 0.00 231.69857894Q77 STEARNS BANK 4.050 08/14/28 248,000.00 247,785.77 247,791.03 08/14/2028 4.05 4.08 853.05 5.26 0.00 858.31880591EW8 TVA 0.750 05/15/25 2,000,000.00 2,000,117.47 2,000,068.91 05/15/2025 0.75 0.72 1,250.00 (48.55) 0.00 1,201.4589236TKJ3 TOYOTA MOTOR CRD 4.550 09/20/27 MTN 1,000,000.00 989,068.42 989,431.64 09/20/2027 4.55 5.02 3,791.67 363.21 0.00 4,154.8890355GHQ2 UBS USA 5.000 11/08/28 248,000.00 247,595.34 247,604.65 11/08/2028 5.00 5.05 1,053.15 9.31 0.00 1,062.45910286GB3 UNITED FIDELITY 5.000 03/30/26 248,000.00 248,000.00 248,000.00 03/30/2026 5.00 5.00 1,053.15 0.00 0.00 1,053.15 9128283F5 US TREASURY 2.250 11/15/27 2,000,000.00 1,890,409.28 1,893,844.37 11/15/2027 2.25 4.50 3,853.59 3,435.10 0.00 7,288.69912828M56 US TREASURY 2.250 11/15/25 2,000,000.00 2,007,734.98 2,006,809.17 11/15/2025 2.25 1.69 3,853.59 (925.81) 0.00 2,927.78912828R36 US TREASURY 1.625 05/15/26 2,000,000.00 1,968,580.99 1,970,794.60 05/15/2026 1.63 3.02 2,783.15 2,213.61 0.00 4,996.76 912828U24 US TREASURY 2.000 11/15/26 2,000,000.00 2,001,315.47 2,001,250.12 11/15/2026 2.00 1.96 3,425.41 (65.35) 0.00 3,360.06912828X88 US TREASURY 2.375 05/15/27 2,000,000.00 1,939,183.11 1,941,525.13 05/15/2027 2.38 3.88 4,067.68 2,342.02 0.00 6,409.70912828ZF0 UNITED STATES TREASURY 0.5 03/31/2025 0.00 1,999,963.22 0.00 03/31/2025 0.50 0.52 824.18 36.78 0.00 860.9691282CAT8 US TREASURY 0.250 10/31/25 2,000,000.00 1,992,212.04 1,993,201.49 10/31/2025 0.25 0.84 428.18 989.45 0.00 1,417.6391282CCW9 US TREASURY 0.750 08/31/26 1,000,000.00 999,338.30 999,375.73 08/31/2026 0.75 0.80 631.79 37.43 0.00 669.2391282CCZ2 US TREASURY 0.875 09/30/26 1,000,000.00 996,919.59 997,084.80 09/30/2026 0.88 1.08 745.06 165.21 0.00 910.2791282CDG3 US TREASURY 1.125 10/31/26 2,000,000.00 1,979,199.12 1,980,257.95 10/31/2026 1.13 1.78 1,926.80 1,058.83 0.00 2,985.6391282CFJ5 US TREASURY 3.125 08/31/29 1,500,000.00 1,473,650.38 1,474,147.24 08/31/2029 3.13 3.55 3,948.71 496.86 0.00 4,445.5791282CFL0 US TREASURY 3.875 09/30/29 1,600,000.00 1,573,551.17 1,574,040.97 09/30/2029 3.88 4.28 5,279.29 489.79 0.00 5,769.0891282CFU0 US TREASURY 4.125 10/31/27 2,000,000.00 1,995,504.10 1,995,647.19 10/31/2027 4.13 4.22 7,064.92 143.09 0.00 7,208.0191282CHX2 US TREASURY 4.375 08/31/28 2,000,000.00 1,991,544.45 1,991,749.39 08/31/2028 4.38 4.51 7,370.92 204.94 0.00 7,575.8791282CJA0 US TREASURY 4.625 09/30/28 2,000,000.00 2,035,600.79 2,034,757.68 09/30/2028 4.63 4.07 7,876.36 (843.11) 0.00 7,033.2591282CJA0 US TREASURY 4.625 09/30/28 2,000,000.00 2,012,776.49 2,012,473.92 09/30/2028 4.63 4.43 7,876.36 (302.58) 0.00 7,573.7891282CJR3 US TREASURY 3.750 12/31/28 1,150,000.00 1,133,914.62 1,134,270.54 12/31/2028 3.75 4.15 3,693.02 355.92 0.00 4,048.9591282CJW2 US TREASURY 4.000 01/31/29 1,200,000.00 1,193,473.36 1,193,614.64 01/31/2029 4.00 4.15 4,110.50 141.29 0.00 4,251.79

4.2.b
Packet Pg. 34
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

EơrninJs E\ )und

CUSIP 'ESCRIPTION

EN'ING PAR
VALUE

BEGINNING

BOOK VALUE

EN'ING BOOK
VALUE
)INAL

MATURITY
COUPON

RATE YIEL'

INTEREST
EARNE'
NET

AMORTIZATION/

ACCRETION
INCOME

NET REALIZE'

GAIN/LOSS

A'-USTE'

INTEREST

EARNINGS
91282CLC3 US TREASURY 4.000 07/31/29 1,500,000.00 1,491,115.67 1,491,286.42 07/31/2029 4.00 4.15 5,138.12 170.75 0.00 5,308.8791282CLR0 US TREASURY 4.125 10/31/29 1,600,000.00 1,590,743.88 1,590,912.18 10/31/2029 4.13 4.26 5,651.93 168.29 0.00 5,820.23949764HK3 WELLS FARGO BANK 5.050 11/07/28 248,000.00 247,595.64 247,604.95 11/07/2028 5.05 5.10 1,063.69 9.31 0.00 1,072.99CALAIF California LAIF 664,418.58 664,418.58 664,418.58 03/31/2025 0.00 4.31 0.00 0.00 0.00 0.00 TOTAL 74,163,162.39 73,522,596.13 73,758,478.24 2.99 3.33 182,084.67 14,847.37 0.00 196,932.04GRAN' TOTAL 74,163,162.39 73,522,596.13 73,758,478.24 2.99 3.33 182,084.67 14,847.37 0.00 196,932.04

4.2.b
Packet Pg. 35
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

Trơnsơction Stơtement

CITY O) SAN RAMON, CA

TRA'E 'ATE SETTLE 'ATE CUSIP 'ESCRIPTION PAR VALUE PRINCIPAL COST

PURCHASE'

INTEREST TOTAL

PURCHASE
YIEL'
BUY
03/25/2025 03/26/2025 21687AVR1 COOPERATIEVE UA 08/25/25 1,250,000.00 1,227,411.11 0.00 (1,227,411.11) 4.36 BUY TOTAL 1,250,000.00 1,227,411.11 0.00 (1,227,411.11) 4.36

TRA'E 'ATE SETTLE 'ATE CUSIP 'ESCRIPTION PAR VALUE BOOK VALUE TOTAL NET

REALIZE'

GAIN/LOSS

MATURITY
03/31/2025 03/31/2025 912828ZF0 UNITED STATES TREASURY 0.5 03/31/2025 (2,000,000.00) 2,000,000.00 2,000,000.00 0.00 MATURITY TOTAL (2,000,000.00) 2,000,000.00 2,000,000.00 0.00

4.2.b
Packet Pg. 36
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

Income/'ividend Ɲeceived

I'ENTI)IER 'ESCRIPTION PAYMENT 'ATE POST 'ATE

INTEREST/'IVI'EN'S

RECEIVE'

US BANK
316175108 FIDELITY IMM:GOVT;I 02/28/2025 03/03/2025 12,189.93108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 03/03/2025 03/03/2025 970.263130A07B0 FHLBANKS 4.000 09/01/28 03/01/2025 03/03/2025 25,300.00949764HK3 WELLS FARGO BANK 5.050 11/07/28 03/07/2025 03/07/2025 960.7590355GHQ2 UBS USA 5.000 11/08/28 03/08/2025 03/10/2025 951.2332114VCH8 FIRST BK MCH 4.600 03/15/28 03/15/2025 03/17/2025 875.1389236TKJ3 TOYOTA MOTOR CRD 4.550 09/20/27 MTN 03/20/2025 03/20/2025 22,750.00062119BK7 BANK FIVE 4.650 03/20/28 03/20/2025 03/20/2025 884.653137EAEX3 FREDDIE MAC 0.375 09/23/25 MTN 03/23/2025 03/24/2025 3,750.0002589AEN8 AM EX BK 5.000 03/23/26 03/23/2025 03/24/2025 6,149.042546732U9 DISCOVER BANK 5.000 03/21/28 03/22/2025 03/24/2025 6,149.0402007GM42 ALLY BANK 5.050 03/23/26 03/23/2025 03/24/2025 6,210.53910286GB3 UNITED FIDELITY 5.000 03/30/26 03/30/2025 03/31/2025 1,019.18912828ZF0 UNITED STATES TREASURY 0.5 03/31/2025 03/31/2025 03/31/2025 5,000.00 91282CCZ2 US TREASURY 0.875 09/30/26 03/31/2025 03/31/2025 4,375.00 91282CJA0 US TREASURY 4.625 09/30/28 03/31/2025 03/31/2025 92,500.00 91282CFL0 US TREASURY 3.875 09/30/29 03/31/2025 03/31/2025 31,000.00 US BANK Ư TOTAL 221,034.74
TOTAL 221,034.74

4.2.b
Packet Pg. 37
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

ContriEution/:itKdrơwơls ơnd E[penses
No activity during current period

4.2.b
Packet Pg. 38
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ
4

CUSIP 'ESCRIPTION POST 'ATE AMOUNT
3130AUSN5 FHLBANKS 3.500 10/01/27 04/01/2025 35,000.00108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 04/03/2025 1,074.21949764HK3 WELLS FARGO BANK 5.050 11/07/28 04/07/2025 1,063.6890355GHQ2 UBS USA 5.000 11/08/28 04/08/2025 1,053.1512547CAX6 CIBC BANK 4.450 04/13/28 04/14/2025 5,502.88437076CM2 HOME DEPOT 2.700 04/15/25 '25 04/15/2025 6,750.0032114VCH8 FIRST BK MCH 4.600 03/15/28 04/15/2025 968.90437076CM2 HOME DEPOT 2.700 04/15/25 '25 04/15/2025 11.10459058LN1 IBRD 3.875 10/16/29 MTN 04/16/2025 29,062.5006051GGA1 BOFAML 3.248 10/21/27 '26 MTN 04/21/2025 16,240.00062119BK7 BANK FIVE 4.650 03/20/28 04/21/2025 979.43459058JL8 IBRD 0.500 10/28/25 MTN 04/28/2025 5,087.503133EN7A2 FED FARM CR BNKS 3.625 10/26/26 04/28/2025 36,250.0091282CLR0 US TREASURY 4.125 10/31/29 04/30/2025 33,000.003133ERDH1 FED FARM CR BNKS 4.750 04/30/29 04/30/2025 47,500.0091282CFU0 US TREASURY 4.125 10/31/27 04/30/2025 41,250.0091282CDG3 US TREASURY 1.125 10/31/26 04/30/2025 11,250.00910286GB3 UNITED FIDELITY 5.000 03/30/26 04/30/2025 1,053.1591282CAT8 US TREASURY 0.250 10/31/25 04/30/2025 2,500.00 APR ǅǃǅǈ TOTAL 275,596.50
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 05/05/2025 1,039.56949764HK3 WELLS FARGO BANK 5.050 11/07/28 05/07/2025 1,029.373135G06G3 FANNIE MAE 0.500 11/07/25 05/07/2025 5,000.0090355GHQ2 UBS USA 5.000 11/08/28 05/08/2025 1,019.1861768EE82 MORGAN PVT BNK 5.050 11/08/28 05/08/2025 6,210.533133EPC45 FED FARM CR BNKS 4.625 11/13/28 05/13/2025 46,250.00880591EW8 TVA 0.750 05/15/25 05/15/2025 7,500.00912828X88 US TREASURY 2.375 05/15/27 05/15/2025 23,750.00 ProMected CơsK )lowsFor the Period April 01, 2025 to Mơrch 31, 2026

4.2.b
Packet Pg. 39
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

CUSIP 'ESCRIPTION POST 'ATE AMOUNT
880591EW8 TVA 0.750 05/15/25 05/15/2025 (68.91)9128283F5 US TREASURY 2.250 11/15/27 05/15/2025 22,500.00912828R36 US TREASURY 1.625 05/15/26 05/15/2025 16,250.00912828U24 US TREASURY 2.000 11/15/26 05/15/2025 20,000.00912828M56 US TREASURY 2.250 11/15/25 05/15/2025 22,500.0032114VCH8 FIRST BK MCH 4.600 03/15/28 05/15/2025 937.643130AXU63 FHLBANKS 4.625 11/17/26 05/19/2025 23,125.00062119BK7 BANK FIVE 4.650 03/20/28 05/20/2025 947.84910286GB3 UNITED FIDELITY 5.000 03/30/26 05/30/2025 1,019.18 MAY ǅǃǅǈ TOTAL 199,009.39
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 06/03/2025 1,074.2190355GHQ2 UBS USA 5.000 11/08/28 06/09/2025 1,053.15637639AE5 NATL SECUR CLEAR 0.750 12/07/25 '25 06/09/2025 3,750.00949764HK3 WELLS FARGO BANK 5.050 11/07/28 06/09/2025 1,063.6832114VCH8 FIRST BK MCH 4.600 03/15/28 06/16/2025 968.90062119BK7 BANK FIVE 4.650 03/20/28 06/20/2025 979.43910286GB3 UNITED FIDELITY 5.000 03/30/26 06/30/2025 1,053.1591282CJR3 US TREASURY 3.750 12/31/28 06/30/2025 21,562.50 -UN ǅǃǅǈ TOTAL 31,505.03
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 07/03/2025 1,039.56592179KF1 METLIFE GBL FDG 5.050 01/06/28 07/07/2025 29,239.50949764HK3 WELLS FARGO BANK 5.050 11/07/28 07/07/2025 1,029.3790355GHQ2 UBS USA 5.000 11/08/28 07/08/2025 1,019.1832114VCH8 FIRST BK MCH 4.600 03/15/28 07/15/2025 937.64062119BK7 BANK FIVE 4.650 03/20/28 07/21/2025 947.8445818WFN1 IDB 4.850 07/19/27 MTN 07/21/2025 48,500.00910286GB3 UNITED FIDELITY 5.000 03/30/26 07/30/2025 1,019.1891282CLC3 US TREASURY 4.000 07/31/29 07/31/2025 30,000.00 ProMected CơsK )lowsFor the Period April 01, 2025 to Mơrch 31, 2026

4.2.b
Packet Pg. 40
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ
6

CUSIP 'ESCRIPTION POST 'ATE AMOUNT
91282CJW2 US TREASURY 4.000 01/31/29 07/31/2025 24,000.00 -UL ǅǃǅǈ TOTAL 137,732.27
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 08/04/2025 1,074.21949764HK3 WELLS FARGO BANK 5.050 11/07/28 08/07/2025 1,063.6890355GHQ2 UBS USA 5.000 11/08/28 08/08/2025 1,053.15795451AK9 SALLIE MAE BNK 1.100 08/11/26 08/11/2025 1,352.79857894Q77 STEARNS BANK 4.050 08/14/28 08/13/2025 4,980.7223204HQA9 CUSTOMERS BANK 4.050 08/13/27 08/14/2025 4,980.7232114VCH8 FIRST BK MCH 4.600 03/15/28 08/15/2025 968.90062119BK7 BANK FIVE 4.650 03/20/28 08/20/2025 979.433130AL7M0 FHLBANKS 0.625 02/24/26 '25 08/25/2025 6,250.003130AQW66 FHLBANKS 2.080 02/25/27 '25 08/25/2025 10,400.0021687AVR1 COOPERATIEVE UA 08/25/25 08/25/2025 21,697.22 AUG ǅǃǅǈ TOTAL 54,800.83
3130A07B0 FHLBANKS 4.000 09/01/28 09/02/2025 25,300.0091282CHX2 US TREASURY 4.375 08/31/28 09/02/2025 43,750.0091282CFJ5 US TREASURY 3.125 08/31/29 09/02/2025 23,437.5091282CCW9 US TREASURY 0.750 08/31/26 09/02/2025 3,750.00910286GB3 UNITED FIDELITY 5.000 03/30/26 09/02/2025 1,053.15108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 09/03/2025 1,074.21949764HK3 WELLS FARGO BANK 5.050 11/07/28 09/08/2025 1,063.6890355GHQ2 UBS USA 5.000 11/08/28 09/08/2025 1,053.1532114VCH8 FIRST BK MCH 4.600 03/15/28 09/15/2025 968.90062119BK7 BANK FIVE 4.650 03/20/28 09/22/2025 979.4389236TKJ3 TOYOTA MOTOR CRD 4.550 09/20/27 MTN 09/22/2025 22,750.002546732U9 DISCOVER BANK 5.000 03/21/28 09/22/2025 6,250.9602589AEN8 AM EX BK 5.000 03/23/26 09/23/2025 6,250.963137EAEX3 FREDDIE MAC 0.375 09/23/25 MTN 09/23/2025 3,750.00 ProMected CơsK )lowsFor the Period April 01, 2025 to Mơrch 31, 2026

4.2.b
Packet Pg. 41
Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

CUSIP 'ESCRIPTION POST 'ATE AMOUNT
3137EAEX3 FREDDIE MAC 0.375 09/23/25 MTN 09/23/2025 870.5502007GM42 ALLY BANK 5.050 03/23/26 09/23/2025 6,313.47910286GB3 UNITED FIDELITY 5.000 03/30/26 09/30/2025 1,053.1591282CJA0 US TREASURY 4.625 09/30/28 09/30/2025 92,500.0091282CFL0 US TREASURY 3.875 09/30/29 09/30/2025 31,000.0091282CCZ2 US TREASURY 0.875 09/30/26 09/30/2025 4,375.00 SEP ǅǃǅǈ TOTAL 277,544.11
3130AUSN5 FHLBANKS 3.500 10/01/27 10/01/2025 35,000.00108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 10/03/2025 1,039.56949764HK3 WELLS FARGO BANK 5.050 11/07/28 10/07/2025 1,029.3790355GHQ2 UBS USA 5.000 11/08/28 10/08/2025 1,019.1812547CAX6 CIBC BANK 4.450 04/13/28 10/14/2025 5,533.1232114VCH8 FIRST BK MCH 4.600 03/15/28 10/15/2025 937.64459058LN1 IBRD 3.875 10/16/29 MTN 10/16/2025 29,062.50062119BK7 BANK FIVE 4.650 03/20/28 10/20/2025 947.8406051GGA1 BOFAML 3.248 10/21/27 '26 MTN 10/21/2025 16,240.003133EN7A2 FED FARM CR BNKS 3.625 10/26/26 10/27/2025 36,250.00459058JL8 IBRD 0.500 10/28/25 MTN 10/28/2025 186.01459058JL8 IBRD 0.500 10/28/25 MTN 10/28/2025 5,087.503133ERDH1 FED FARM CR BNKS 4.750 04/30/29 10/30/2025 47,500.00910286GB3 UNITED FIDELITY 5.000 03/30/26 10/30/2025 1,019.1891282CFU0 US TREASURY 4.125 10/31/27 10/31/2025 41,250.0091282CDG3 US TREASURY 1.125 10/31/26 10/31/2025 11,250.0091282CAT8 US TREASURY 0.250 10/31/25 10/31/2025 2,500.0091282CLR0 US TREASURY 4.125 10/31/29 10/31/2025 33,000.0091282CAT8 US TREASURY 0.250 10/31/25 10/31/2025 6,798.51 OCT ǅǃǅǈ TOTAL 275,650.40
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 11/03/2025 1,074.21 ProMected CơsK )lowsFor the Period April 01, 2025 to Mơrch 31, 2026

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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ
8

CUSIP 'ESCRIPTION POST 'ATE AMOUNT
3135G06G3 FANNIE MAE 0.500 11/07/25 11/07/2025 (77.92)949764HK3 WELLS FARGO BANK 5.050 11/07/28 11/07/2025 1,063.683135G06G3 FANNIE MAE 0.500 11/07/25 11/07/2025 5,000.0061768EE82 MORGAN PVT BNK 5.050 11/08/28 11/10/2025 6,313.4790355GHQ2 UBS USA 5.000 11/08/28 11/10/2025 1,053.153133EPC45 FED FARM CR BNKS 4.625 11/13/28 11/13/2025 46,250.00912828M56 US TREASURY 2.250 11/15/25 11/15/2025 (6,809.17)912828X88 US TREASURY 2.375 05/15/27 11/17/2025 23,750.009128283F5 US TREASURY 2.250 11/15/27 11/17/2025 22,500.00912828U24 US TREASURY 2.000 11/15/26 11/17/2025 20,000.00912828R36 US TREASURY 1.625 05/15/26 11/17/2025 16,250.00912828M56 US TREASURY 2.250 11/15/25 11/17/2025 22,500.0032114VCH8 FIRST BK MCH 4.600 03/15/28 11/17/2025 968.903130AXU63 FHLBANKS 4.625 11/17/26 11/17/2025 23,125.00062119BK7 BANK FIVE 4.650 03/20/28 11/20/2025 979.43 NOV ǅǃǅǈ TOTAL 183,940.75
910286GB3 UNITED FIDELITY 5.000 03/30/26 12/01/2025 1,053.15108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 12/03/2025 1,039.56637639AE5 NATL SECUR CLEAR 0.750 12/07/25 '25 12/07/2025 (547.92)90355GHQ2 UBS USA 5.000 11/08/28 12/08/2025 1,019.18949764HK3 WELLS FARGO BANK 5.050 11/07/28 12/08/2025 1,029.37637639AE5 NATL SECUR CLEAR 0.750 12/07/25 '25 12/08/2025 3,750.0032114VCH8 FIRST BK MCH 4.600 03/15/28 12/15/2025 937.64062119BK7 BANK FIVE 4.650 03/20/28 12/22/2025 947.84910286GB3 UNITED FIDELITY 5.000 03/30/26 12/30/2025 1,019.1891282CJR3 US TREASURY 3.750 12/31/28 12/31/2025 21,562.50 'EC ǅǃǅǈ TOTAL 31,810.49
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 01/05/2026 1,074.21 ProMected CơsK )lowsFor the Period April 01, 2025 to Mơrch 31, 2026

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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

CUSIP 'ESCRIPTION POST 'ATE AMOUNT
592179KF1 METLIFE GBL FDG 5.050 01/06/28 01/06/2026 29,239.50949764HK3 WELLS FARGO BANK 5.050 11/07/28 01/07/2026 1,063.6890355GHQ2 UBS USA 5.000 11/08/28 01/08/2026 1,053.1532114VCH8 FIRST BK MCH 4.600 03/15/28 01/15/2026 968.90062119BK7 BANK FIVE 4.650 03/20/28 01/20/2026 979.4345818WFN1 IDB 4.850 07/19/27 MTN 01/20/2026 48,500.00910286GB3 UNITED FIDELITY 5.000 03/30/26 01/30/2026 1,053.15 -AN ǅǃǅǉ TOTAL 83,932.03
91282CJW2 US TREASURY 4.000 01/31/29 02/02/2026 24,000.0091282CLC3 US TREASURY 4.000 07/31/29 02/02/2026 30,000.00108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 02/03/2026 1,074.21949764HK3 WELLS FARGO BANK 5.050 11/07/28 02/09/2026 1,063.6890355GHQ2 UBS USA 5.000 11/08/28 02/09/2026 1,053.15795451AK9 SALLIE MAE BNK 1.100 08/11/26 02/11/2026 1,375.21857894Q77 STEARNS BANK 4.050 08/14/28 02/13/2026 5,063.2832114VCH8 FIRST BK MCH 4.600 03/15/28 02/17/2026 968.9023204HQA9 CUSTOMERS BANK 4.050 08/13/27 02/17/2026 5,063.28062119BK7 BANK FIVE 4.650 03/20/28 02/20/2026 979.433130AL7M0 FHLBANKS 0.625 02/24/26 '25 02/24/2026 6,250.003130AQW66 FHLBANKS 2.080 02/25/27 '25 02/25/2026 10,400.00 )EB ǅǃǅǉ TOTAL 87,291.14
3130A07B0 FHLBANKS 4.000 09/01/28 03/02/2026 25,300.0091282CHX2 US TREASURY 4.375 08/31/28 03/02/2026 43,750.00910286GB3 UNITED FIDELITY 5.000 03/30/26 03/02/2026 985.2191282CFJ5 US TREASURY 3.125 08/31/29 03/02/2026 23,437.5091282CCW9 US TREASURY 0.750 08/31/26 03/02/2026 3,750.00108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 03/03/2026 970.2690355GHQ2 UBS USA 5.000 11/08/28 03/09/2026 951.23 ProMected CơsK )lowsFor the Period April 01, 2025 to Mơrch 31, 2026

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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, CITY OF SAN RAMON _ MARC+ ǆǄ ǅǃǅǈ

CUSIP 'ESCRIPTION POST 'ATE AMOUNT
949764HK3 WELLS FARGO BANK 5.050 11/07/28 03/09/2026 960.7532114VCH8 FIRST BK MCH 4.600 03/15/28 03/16/2026 875.13062119BK7 BANK FIVE 4.650 03/20/28 03/20/2026 884.6589236TKJ3 TOYOTA MOTOR CRD 4.550 09/20/27 MTN 03/20/2026 22,750.002546732U9 DISCOVER BANK 5.000 03/21/28 03/23/2026 6,149.0402589AEN8 AM EX BK 5.000 03/23/26 03/23/2026 6,149.0402589AEN8 AM EX BK 5.000 03/23/26 03/23/2026 80.6402007GM42 ALLY BANK 5.050 03/23/26 03/23/2026 80.7102007GM42 ALLY BANK 5.050 03/23/26 03/23/2026 6,210.53910286GB3 UNITED FIDELITY 5.000 03/30/26 03/30/2026 1,019.1891282CFL0 US TREASURY 3.875 09/30/29 03/31/2026 31,000.0091282CCZ2 US TREASURY 0.875 09/30/26 03/31/2026 4,375.0091282CJA0 US TREASURY 4.625 09/30/28 03/31/2026 92,500.00 MAR ǅǃǅǉ TOTAL 272,178.87
GRAN' TOTAL 1,910,991.81
ProMected CơsK )lowsFor the Period April 01, 2025 to Mơrch 31, 2026

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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, Meeder provides monthly statements for its investment management clients to provide information about the investment portfolio. The information should not be used for audit or conƊrmation purposes. Please review your custodial statements and report any inaccuracies or discrepancies.Certain information and data has been supplied by una ƌliated third parties. Although Meeder believes the information is reliable, it cannot warrant the accuracy of information oƉered by third parties. Market value may reƋect prices received from pricing vendors when current market Tuotations are not available. Prices may not reƋect Ɗrm bids or oƉers and may diƉer from the value at which the security can be sold.

Statements may include positions from unmanaged accounts provided for reporting purposes. Unmanaged accounts are managed directly by the client and are not included in the accounts managed by Meeder. This information is provided as a client convenience and Meeder assumes no responsibility for performance of these accounts or the accuracy of the data reported.

InvestinJ involves risk. Past performance is no Juarantee of future results. 'eEt and Ɗ[ed income securities are suEMect to credit and interest rate risk. TKe investment return and principal value of an investment will Ƌuctuate so tKat an investors sKares, wKen redeemed, ma\ Ee wortK more or less tKan tKeir oriJinal cost. Current performance ma\ Ee lower or KiJKer tKan tKe performance data Tuoted.

Investment advisory services provided by Meeder Public Funds, Inc. Please contact us if you would like to receive a copy of our current ADV disclosure brochure or privacy policy.© 2024 Meeder Investment Managementmeederpublicfunds.com | 866.633.3371'isclosure

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Attachment: B: Investment Portfolio Information for City of San Ramon for the Month Ending March 31, City of San Ramon
Investment Report - Supplementary InformationInvestments Held by Trustees at March 31, 2025 Maturity
Description CUSIP Rate Date Cost Market Issue
AMBAC Assurance 1.00 1.00 06(A) TA
Computershare Money Market 0.74 0.74 2010 POBComputershare Money Market 2,960,980.38 2,960,979.38 2010 POBComputershare Money Market 3.42 3.42 2010 POBComputershare Money Market 243,726.88 243,726.88 2010 POBComputershare Money Market 435.52 435.52 2010 POBDreyfus Govt Cash Mgmt X9USDYRUT 4.13% n/a 142,716.77 142,716.77 2019 COP $ 3,347,863.71 3,347,864.71 $

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Attachment: C: Investments Held by Trustees at March 31, 2025 (4643 : Quarterly Investment Report)

INVESTMENT TERMINOLOGY
Basis Points – A standard measure for interest rates that represents one-hundredth of one percent. As an example, the difference between a security yielding 2.00% and 2.25% is 25 basis points.

Book Value – The price paid for the financial instrument as recorded on the balance sheet. Book value never changes as long as the instrument is owned.

Call Date – The day on which the issuer has the right to redeem a callable bond at par, or at a small premium to par, prior to the stated maturity date.

Carrying Value – The original cost of an asset, less the accumulated amount of any depreciation or amortization, less the accumulated amount of any asset impairments.

Certificate of Deposit (CD’s) – A debt instrument issued by financial institutions that will pay interest, periodically or at maturity, and principal when it reaches maturity. Maturities range from a few weeks to several years.

Commercial Paper – An unsecured short term promissory note issued by corporations, with maturities typically ranging from 1 to 270 days, and usually transacts at a discount with no coupon payments.

Corporate Notes – A type of debt security issued by a corporation and sold to investors.

Federal Agency Securities – Securities issued by corporations and agencies created by the US government, such as the Federal Home Loan Bank Board and Ginnie Mae.

Liquidity – The amount of a portfolio or an asset that can be converted easily and quickly into cash. Cash is the most liquid asset, followed by cash equivalents, such as money market funds.

Market Value – Also known as fair value. Market value is the price that buyers and sellers of a financial instrument would agree upon if the instrument was sold in the market today.

Maturity – The date on which payment of a financial obligation is due. The final stated maturity is the date on which the issuer must retire a bond and pay the face value to the bondholder.

Par Value – Value of the instrument at the time of issuance, also known as face value (when financial instruments were printed on paper, it was the value printed on the face of the paper document).

Safety – Also known as Margin of Safety. Margin of safety is a principle of investing in which an investor only purchases securities when their market price is significantly below their intrinsic value.

Supranational – A supranational entity is formed by two or more central governments with the purpose of promoting economic development for the member countries. Supranational institutions finance their activities by issuing debt, such as supranational bonds. The three U.S.

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Attachment: D: Investment Terminology (4643 : Quarterly Investment Report) based supranationals are International Bank for Reconstruction and Development, the International Finance Corporation, and the Inter-American Development Bank.

Treasury Securities – Government bonds from the United States Treasury Department.

Examples include U.S. Treasury Bills, U.S. Treasury Notes, and U.S. Treasury Bonds.

Weighted Average Days to Maturity – The average length of time until all the investments in the portfolio will mature.

Weighted Average Yield to Maturity – The average return anticipated on the investment instruments as a whole if all are held to maturity.

Yield – The current rate of return on an investment security, generally expressed as a percentage of the security's current price. Examples of yield include interest rate earned and dividend rate received from holding a particular security.

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Attachment: D: Investment Terminology (4643 : Quarterly Investment Report)

FINANCE COMMITTEE STAFF REPORT
DATE: April 16, 2025
TO: Finance Committee/City Manager
FROM: Jennifer Wakeman, Finance Director
By: Candace Daniels, Finance Division Manager
SUBJECT: PARS Pension Stabilization Trust Statement for the Period Ending December 31, 2024

RECOMMENDED ACTION
Staff recommends that the Finance Committee review and accept the PARS Pension Stabilization Trust Statement for the period ending December 31, 2024.

BACKGROUND/DISCUSSION
Participation in the PARS Pension Stabilization Trust (PARS Trust) was approved by City Council on November 28, 2017 by Resolution No. 2017-128. The purpose of the PARS Trust was to pre-fund pension obligations to address unfunded liabilities and large variances in annual pension contributions. Before the PARS Trust was established, the City’s only option for reducing the unfunded pension liability was to commit additional funds to CalPERS.

Unfortunately, these additional funds would be subject to the same market volatility risk as the CalPERS investment rate of return. Pre-funding the pension obligations through the PARS Trust verses CalPERS offered the following benefits:
• Provided local control and more flexibility in investment allocations compared to maintaining funds in a City-invested reserve or giving money to CalPERS to pay down unfunded liability
• Offered potential for higher investment returns
• Acted as a reserve fund to help the City pay for increasing CalPERS annual contribution requirements and helped mitigate General Fund budget spiking At the start of October 1, 2024, the PARS Trust had a balance of $1,826,425. During this quarter, there were investment gains of $20,343 and expenses of $1,146, which left an ending balance of $1,845,622 at December 31, 2024. The one year investment return (detailed on the attached statement) was 5.53%. For perspective, the current Cal-PERS discount rate-the expected rate of return for PERS investments over a twenty year term-is currently set at 6.8%. The City could leverage use of these PARS trust funds to off-set any lowering of the PERS discount rate which would in turn shift additional costs onto the City.

FISCAL ANALYSIS

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This item is for informational purposes only--no fiscal impact. This report supports Council Goal #2--Maintain a safe and secure financial base.

STEPS FOLLOWING APPROVAL
None

ATTACHMENT
PARS Pension Stabilization Trust for the Period ending December 31, 2024

4.3 Packet Pg. 51

CITY OF SAN RAMON
PARS Post-Employment Benefits Trust 12/1/2024 to 12/31/2024 Steven Spedowfski
City Manager
City of San Ramon
7000 Bollinger Canyon Rd.

San Ramon, CA 94583
Account Summary
Source 12/1/2024 Contributions Earnings Expenses Distributions Transfers 12/31/2024 PENSION 1002 $1,839,227.30 $0.00 $6,778.08 $383.17 $0.00 $0.00 $1,845,622.21 Totals $1,839,227.30 $0.00 $6,778.08 $383.17 $0.00 $0.00 $1,845,622.21 Investment Selection
Source

PENSION
Investment Objective
Source

PENSION
Investment Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years PENSION 0.37% 1.11% 5.53% 0.87% 4.03% - 3/14/2018
Information as provided by US Bank, Trustee for PARS; Not FDIC Insured; No Bank Guarantee; May Lose Value Headquarters - 4350 Von Karman Ave., Suite 100, Newport Beach, CA 92660 800.540.6369 Fax 949.250.1250 www.pars.org Account balances are inclusive of Trust Administration, Trustee and Investment Management fees Annualized Return
Investment Return: Annualized rate of return is the return on an investment over a period other than one year multiplied or divided to give a comparable one-year return.

Past performance does not guarantee future results. Performance returns may not reflect the deduction of applicable fees, which could reduce returns. Information is deemed reliable but may be subject to change.

Account Report for the Period
Balance as of
Moderate - Strategic Blend
Balance as of
The dual goals of the Moderate Strategy are growth of principal and income. It is expected that dividend and interest income will comprise a significant portion of total return, although growth through capital appreciation is equally important. The portfolio will be allocated between equity and fixed income investments.

Plan's Inception Date

4.3.a
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Attachment: PARS Pension Stabilization Trust for the Period ending December 31, 2024 (4578 : PARS Pension Trust)

City Council Finance CommitteeApril 16, 2025

City Council Finance Committee
April 16, 2025