CITY OF SAN RAMON | MARCH 31, 2026
14 CUSIP DESCRIPTION
TRADE DATE
SETTLE
DATE PAR VALUE
PRINCIPAL COST
PURCHASED
INTEREST TOTAL COST
YIELD TO
MATURITY
MATURITY
DATE
DAYS TO
MATURITY
MARKET PRICE
MARKET VALUE
UNREALIZED
GAIN/LOSS
BOOK VALUE
% OF
MV
MOODY'S
S&P
RATING
12547CAX6 CIBC BANK 4.450
04/13/28
04/14/2023
04/14/2023 248,000.00 247,380.000.00 247,380.00 4.51 04/13/2028 744 99.37246,444.25 (1,303.27)
247,747.52 0.22 NANA
857894Q77 STEARNS BANK
4.050 08/14/28
08/02/2024
08/13/2024 248,000.00 247,752.000.00 247,752.00 4.08 08/14/2028 867 99.94247,853.10
0.11 247,852.99 0.22 NANA
949764HK3
WELLS FARGO
BANK 5.050
11/07/28
11/07/2023
11/07/2023 248,000.00 247,451.920.00 247,451.92 5.10 11/07/2028 952 100.74249,834.70 2,120.18
247,714.52 0.22 NANA
61768EE82
MORGAN PVT
BNK 5.050
11/08/28
11/08/2023
11/08/2023 248,000.00 247,456.880.00 247,456.88 5.05 11/08/2028 953 100.71249,759.80 2,043.00
247,716.80 0.22 NANA
90355GHQ2 UBS USA 5.000
11/08/28
11/08/2023
11/08/2023 248,000.00 247,451.920.00 247,451.92 5.05 11/08/2028 953 100.62249,547.29 1,833.07
247,714.22 0.22 NANA
NEGOTIABLE
CD'S TOTAL 2,728,000.00 2,724,205.600.00 2,724,205.60 4.41 680 100.222,733,777.68 7,489.41
2,726,288.26 2.44 NA
CORPORATE
BONDS
857477AW3 STATE STREET
2.650 05/19/26
05/19/2025
05/20/2025 1,500,000.00 1,476,600.000.00 1,476,600.00 4.26 05/19/2026 49 99.791,496,775.00 (139.29)
1,496,914.29 1.33 Aa3A
67066GAE4 NVIDIA 3.200
09/16/26 '26
03/30/2026
03/31/2026 2,000,000.00 1,994,180.002,666.67 1,996,846.67 3.84 09/16/2026 169 99.651,992,980.00 (1,234.44)
1,994,214.44 1.78 Aa1AA89236TKJ3
TOYOTA MOTOR
CRD 4.550
09/20/27 MTN
06/10/2024
06/11/2024 1,000,000.00 986,000.000.00 986,000.00 5.02 09/20/2027 538 100.601,006,040.00 12,331.81
993,708.19 0.90 A1A+
06051GGA1 BOFAML 3.248
10/21/27 '26 MTN
12/08/2023
12/08/2023 1,000,000.00 939,580.000.00 939,580.00 4.98 10/21/2027 569 98.64986,360.00 10,678.25
975,681.75 0.88 A1A592179KF1
METLIFE GBL FDG
5.050 01/06/28
MTN
12/08/2023
12/08/2023 1,158,000.00 1,156,135.620.00 1,156,135.62 5.09 01/06/2028 646 101.131,171,027.50 13,835.37
1,157,192.13 1.04 Aa3AA532457DB1 LILLY 4.000
10/15/28 '28
03/30/2026
03/31/2026 2,000,000.00 1,996,980.0049,111.11 2,046,091.11 4.06 10/15/2028 929 99.821,996,300.00 (683.25)
1,996,983.25 1.78 Aa3A+
713448GL6 PEPSICO 4.100
01/15/29 '28
01/29/2026
01/30/2026 1,500,000.00 1,510,245.002,562.50 1,512,807.50 3.85 01/15/2029 1,021 99.921,498,860.00 (10,789.81)
1,509,649.81 1.34 A1A+
58933YAX3 MERCK & CO
3.400 03/07/29 '28
01/29/2026
01/30/2026 1,500,000.00 1,477,920.000.00 1,477,920.00 3.91 03/07/2029 1,072 97.951,469,265.00 (9,844.82)
1,479,109.82 1.31 Aa3A+
57636QAM6 MASTERCARD
2.950 06/01/29 '29
01/29/2026
01/30/2026 1,500,000.00 1,454,955.007,252.08 1,462,207.08 3.92 06/01/2029 1,158 96.321,444,725.00 (12,485.95)
1,457,210.95 1.29 Aa3A+
24422EUY3
JOHN DEERE CAP
2.800 07/18/29
MTN
01/29/2026
01/30/2026 1,500,000.00 1,446,135.001,400.00 1,447,535.00 3.92 07/18/2029 1,205 95.601,433,955.00 (14,777.44)
1,448,732.44 1.28 A1A
66989HAT5 NOVARTIS CAP
3.800 09/18/29 '29
03/30/2026
03/31/2026 2,000,000.00 1,971,320.002,744.44 1,974,064.44 4.25 09/18/2029 1,267 98.671,973,380.00 2,037.36
1,971,342.64 1.76 Aa3AA931142FN8 WALMART 4.350
04/28/30 '30
05/13/2025
05/14/2025 1,500,000.00 1,501,425.000.00 1,501,425.00 4.33 04/28/2030 1,489 100.971,514,520.00 13,352.93
1,501,167.07 1.35 Aa2AA
037833EZ9 APPLE 4.200
05/12/30 '30
05/13/2025
05/14/2025 1,500,000.00 1,488,735.000.00 1,488,735.00 4.37 05/12/2030 1,503 100.491,507,320.00 16,596.33
1,490,723.67 1.34 AaaAA+
02079KAK3 ALPHABET 4.000
05/15/30 '30
01/29/2026
01/30/2026 1,500,000.00 1,500,885.0012,500.00 1,513,385.00 3.98 05/15/2030 1,506 99.281,489,215.00 (11,634.85)
1,500,849.85 1.33 Aa2AA+
Position Statement
CITY OF SAN RAMON | MARCH 31, 2026
15 CUSIP DESCRIPTION
TRADE DATE
SETTLE
DATE PAR VALUE
PRINCIPAL COST
PURCHASED
INTEREST TOTAL COST
YIELD TO
MATURITY
MATURITY
DATE
DAYS TO
MATURITY
MARKET PRICE
MARKET VALUE
UNREALIZED
GAIN/LOSS
BOOK VALUE
% OF
MV
MOODY'S
S&P
RATING
023135BS4 AMAZON.COM
1.500 06/03/30 '30
08/18/2025
08/19/2025 1,500,000.00 1,334,550.000.00 1,334,550.00 4.06 06/03/2030 1,525 89.431,341,465.00 (14,369.31)
1,355,834.31 1.20 A1AA
CORPORATE
BONDS TOTAL 22,658,000.00 22,235,645.6278,236.80 22,313,882.42 4.20 983 98.6022,322,187.50 (7,127.10)
22,329,314.60 19.90 A+
SUPRANATIONAL
45818WFN1 IDB 4.850 07/19/27
MTN
05/24/2024
05/24/2024 2,000,000.00 2,008,860.000.00 2,008,860.00 4.70 07/19/2027 475 100.742,014,800.00 11,144.73
2,003,655.27 1.80 AaaAAA
459058LN1 IBRD 3.875
10/16/29 MTN
11/14/2024
11/15/2024 1,500,000.00 1,469,736.000.00 1,469,736.00 4.33 10/16/2029 1,295 99.981,499,745.00 21,549.91
1,478,195.09 1.34 AaaAAA
SUPRANATIONAL
TOTAL 3,500,000.00 3,478,596.000.00 3,478,596.00 4.54 825 100.423,514,545.00 32,694.64
3,481,850.36 3.13 AAA
CITY OF SAN
RAMON, CA TOTAL 112,790,932.08 111,487,762.30146,952.32 111,634,714.62 3.88 810 112,171,526.49 134,237.22
112,037,289.26 100.00 AA
GRAND TOTAL 112,790,932.08 111,487,762.30
146,952.32 111,634,714.62 3.88 810 112,171,526.49
134,237.22
112,037,289.26 100.00 AA
Position Statement
CITY OF SAN RAMON | MARCH 31, 2026
16 Amortization Schedule
CUSIP DESCRIPTION PAR VALUE
PRINCIPAL
COST
ORIGINAL
PREMIUM OR
DISCOUNT
BEGINNING
BOOK VALUE
CURRENT
PERIOD AMORT
ENDING BOOK
VALUE
TOTAL
AMORTIZATION
UNAMORTIZED
BALANCE
CITY OF SAN
RAMON, CA
02079KAK3 ALPHABET 4.000 05/15/30 '30 1,500,000.00 1,500,885.00 885.00 1,500,867.71 (17.86) 1,500,849.85 (35.15) 849.85 023135BS4 AMAZON.COM 1.500 06/03/30 '30 1,500,000.00 1,334,550.00 (165,450.00) 1,352,901.80 2,932.50 1,355,834.31 21,284.31 (144,165.69) 037833EZ9 APPLE 4.200 05/12/30 '30 1,500,000.00 1,488,735.00 (11,265.00) 1,490,532.21 191.46 1,490,723.67 1,988.67 (9,276.33) 02007GM42 Ally Bank 5.05 03/23/2026 248,000.00 247,752.00 (248.00) 247,995.01 4.99 0.00 248.00 0.00 02589AEN8 American Express National Bank 5.0
03/23/2026 248,000.00 247,752.00 (248.00) 247,995.02 4.98 0.00 248.00 0.00 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 0.00 06051GGA1 BOFAML 3.248 10/21/27 '26 MTN 1,000,000.00 939,580.00 (60,420.00) 974,354.52 1,327.23 975,681.75 36,101.75 (24,318.25) 108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 248,000.00 247,628.00 (372.00) 247,915.82 10.57 247,926.39 298.39 (73.61) 2546732U9 CAPITL ONE NA 5.000 03/21/28 248,000.00 247,456.88 (543.12) 247,776.44 9.23 247,785.67 328.79 (214.33) 12547CAX6 CIBC BANK 4.450 04/13/28 248,000.00 247,380.00 (620.00) 247,736.99 10.53 247,747.52 367.52 (252.48) 22533UJ87 CREDIT AGRI NY 09/08/26 1,250,000.00 1,218,822.93 (31,177.07) 1,225,793.41 3,928.82 1,229,722.23 10,899.30 (20,277.77) 22533UM26 CREDIT AGRI NY 12/02/26 1,000,000.00 973,859.17 (26,140.83) 0.00 211.67 974,070.84 211.67 (25,929.16) 23204HQA9 CUSTOMERS BANK 4.050 08/13/27 248,000.00 247,628.00 (372.00) 247,819.60 10.55 247,830.15 202.15 (169.85) 3133EN7A2 FED FARM CR BNKS 3.625 10/26/26 2,000,000.00 1,972,388.00 (27,612.00) 1,995,132.76 631.32 1,995,764.08 23,376.08 (4,235.92) 3133EPC45 FED FARM CR BNKS 4.625 11/13/28 2,000,000.00 2,009,460.00 9,460.00 2,005,161.47 (161.95) 2,004,999.52 (4,460.48) 4,999.52 3133ERDH1 FED FARM CR BNKS 4.750 04/30/29 2,000,000.00 2,030,572.00 30,572.00 2,019,555.48 (524.41) 2,019,031.07 (11,540.93) 19,031.07 3130AQW66 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 0.00 3130AUSN5 FHLBANKS 3.500 10/01/27 2,000,000.00 1,967,600.00 (32,400.00) 1,988,941.00 592.11 1,989,533.11 21,933.11 (10,466.89) 3130A07B0 FHLBANKS 4.000 09/01/28 1,265,000.00 1,214,564.45 (50,435.55) 1,238,852.83 885.86 1,239,738.69 25,174.24 (25,261.31) 3130AXU63 FHLBANKS 4.625 11/17/26 1,000,000.00 998,230.00 (1,770.00) 999,577.98 50.12 999,628.11 1,398.11 (371.89) 313385H25 FHLBANKS D NOTE 09/25/26 2,000,000.00 1,964,400.00 (35,600.00) 0.00 200.00 1,964,600.00 200.00 (35,400.00) 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 0.00 3134GW6C5 FREDDIE MAC 0.800 10/28/26 '26 MTN 2,000,000.00 1,966,340.00 (33,660.00) 0.00 159.53 1,966,499.53 159.53 (33,500.47) 459058LN1 IBRD 3.875 10/16/29 MTN 1,500,000.00 1,469,736.00 (30,264.00) 1,477,672.72 522.37 1,478,195.09 8,459.09 (21,804.91) 45818WFN1 IDB 4.850 07/19/27 MTN 2,000,000.00 2,008,860.00 8,860.00 2,003,894.33 (239.06) 2,003,655.27 (5,204.73) 3,655.27 24422EUY3 JOHN DEERE CAP 2.800 07/18/29 MTN 1,500,000.00 1,446,135.00 (53,865.00) 1,447,412.43 1,320.01 1,448,732.44 2,597.44 (51,267.56) 532457DB1 LILLY 4.000 10/15/28 '28 2,000,000.00 1,996,980.00 (3,020.00) 0.00 3.25 1,996,983.25 3.25 (3,016.75)
CITY OF SAN RAMON | MARCH 31, 2026
17 Amortization Schedule
CUSIP DESCRIPTION PAR VALUE
PRINCIPAL
COST
ORIGINAL
PREMIUM OR
DISCOUNT
BEGINNING
BOOK VALUE
CURRENT
PERIOD AMORT
ENDING BOOK
VALUE
TOTAL
AMORTIZATION
UNAMORTIZED
BALANCE
57636QAM6 MASTERCARD 2.950 06/01/29 '29 1,500,000.00 1,454,955.00 (45,045.00) 1,456,064.48 1,146.47 1,457,210.95 2,255.95 (42,789.05) 58933YAX3 MERCK & CO 3.400 03/07/29 '28 1,500,000.00 1,477,920.00 (22,080.00) 1,478,505.16 604.66 1,479,109.82 1,189.82 (20,890.18) 592179KF1 METLIFE GBL FDG 5.050 01/06/28 MTN 1,158,000.00 1,156,135.62 (1,864.38) 1,157,153.30 38.83 1,157,192.13 1,056.51 (807.87) 61768EE82 MORGAN PVT BNK 5.050 11/08/28 248,000.00 247,456.88 (543.12) 247,707.58 9.22 247,716.80 259.92 (283.20) 62479MK51 MUFG BANK NY 10/05/26 2,000,000.00 1,958,945.00 (41,055.00) 0.00 434.44 1,959,379.44 434.44 (40,620.56) 63873KG19 NATIXIS NY 07/01/26 1,250,000.00 1,227,137.50 (22,862.50) 1,234,241.67 4,004.17 1,238,245.83 11,108.33 (11,754.17) 66989HAT5 NOVARTIS CAP 3.800 09/18/29 '29 2,000,000.00 1,971,320.00 (28,680.00) 0.00 22.64 1,971,342.64 22.64 (28,657.36) 67066GAE4 NVIDIA 3.200 09/16/26 '26 2,000,000.00 1,994,180.00 (5,820.00) 0.00 34.44 1,994,214.44 34.44 (5,785.56) 713448GL6 PEPSICO 4.100 01/15/29 '28 1,500,000.00 1,510,245.00 10,245.00 1,509,952.29 (302.47) 1,509,649.81 (595.19) 9,649.81 795451AK9 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 857477AW3 STATE STREET 2.650 05/19/26 1,500,000.00 1,476,600.00 (23,400.00) 1,494,921.43 1,992.86 1,496,914.29 20,314.29 (3,085.71) 857894Q77 STEARNS BANK 4.050 08/14/28 248,000.00 247,752.00 (248.00) 247,847.73 5.26 247,852.99 100.99 (147.01) 89236TKJ3 TOYOTA MOTOR CRD 4.550 09/20/27 MTN 1,000,000.00 986,000.00 (14,000.00) 993,344.98 363.21 993,708.19 7,708.19 (6,291.81) 880591FE7 TVA 3.875 08/01/30 1,650,000.00 1,644,472.50 (5,527.50) 1,645,065.61 94.77 1,645,160.38 687.88 (4,839.62) 90355GHQ2 UBS USA 5.000 11/08/28 248,000.00 247,451.92 (548.08) 247,704.91 9.31 247,714.22 262.30 (285.78) 91282CCW9 US TREASURY 0.750 08/31/26 1,000,000.00 997,798.42 (2,201.58) 999,779.03 37.43 999,816.46 2,018.04 (183.54) 91282CCZ2 US TREASURY 0.875 09/30/26 1,000,000.00 990,351.56 (9,648.44) 998,864.83 165.21 999,030.04 8,678.48 (969.96) 91282CDG3 US TREASURY 1.125 10/31/26 2,000,000.00 1,941,093.76 (58,906.24) 1,991,665.99 1,058.83 1,992,724.82 51,631.06 (7,275.18) 912828R36 US TREASURY 1.625 05/15/26 2,000,000.00 1,897,500.00 (102,500.00) 1,994,644.49 2,213.61 1,996,858.10 99,358.10 (3,141.90) 912828U24 US TREASURY 2.000 11/15/26 2,000,000.00 2,003,593.76 3,593.76 2,000,546.01 (65.35) 2,000,480.65 (3,113.11) 480.65 9128283F5 US TREASURY 2.250 11/15/27 2,000,000.00 1,823,750.00 (176,250.00) 1,930,854.79 3,435.10 1,934,289.89 110,539.89 (65,710.11) 912828X88 US TREASURY 2.375 05/15/27 2,000,000.00 1,882,421.88 (117,578.12) 1,966,758.47 2,342.02 1,969,100.49 86,678.61 (30,899.51) 9128283W8 US TREASURY 2.750 02/15/28 1,250,000.00 1,232,031.25 (17,968.75) 1,233,291.40 723.42 1,234,014.81 1,983.56 (15,985.19) 91282CFJ5 US TREASURY 3.125 08/31/29 1,500,000.00 1,471,230.47 (28,769.53) 1,479,500.51 496.86 1,479,997.37 8,766.90 (20,002.63) 91282CGJ4 US TREASURY 3.500 01/31/30 2,000,000.00 1,984,062.50 (15,937.50) 1,984,389.53 337.94 1,984,727.47 664.97 (15,272.53) 91282CPN5 US TREASURY 3.500 11/30/30 1,750,000.00 1,727,509.77 (22,490.23) 1,727,892.04 395.01 1,728,287.05 777.28 (21,712.95) 91282CPA3 US TREASURY 3.625 09/30/30 1,750,000.00 1,738,378.91 (11,621.09) 1,738,583.51 211.42 1,738,794.92 416.01 (11,205.08) 91282CPD7 US TREASURY 3.625 10/31/30 1,750,000.00 1,737,558.59 (12,441.41) 1,737,773.72 222.30 1,737,996.01 437.42 (12,003.99) 91282CLG4 US TREASURY 3.750 08/15/27 1,250,000.00 1,255,566.41 5,566.41 1,255,053.46 (294.47) 1,254,759.00 (807.41) 4,759.00
CITY OF SAN RAMON | MARCH 31, 2026
18 Amortization Schedule
CUSIP DESCRIPTION PAR VALUE
PRINCIPAL
COST
ORIGINAL
PREMIUM OR
DISCOUNT
BEGINNING
BOOK VALUE
CURRENT
PERIOD AMORT
ENDING BOOK
VALUE
TOTAL
AMORTIZATION
UNAMORTIZED
BALANCE
91282CJR3 US TREASURY 3.750 12/31/28 1,150,000.00 1,132,525.39 (17,474.61) 1,138,105.32 355.92 1,138,461.24 5,935.85 (11,538.76) 91282CJQ5 US TREASURY 3.750 12/31/30 1,750,000.00 1,745,625.00 (4,375.00) 1,745,698.08 75.52 1,745,773.59 148.59 (4,226.41) 91282CNH0 US TREASURY 3.875 06/15/28 1,250,000.00 1,261,425.78 11,425.78 1,260,733.31 (397.53) 1,260,335.78 (1,090.00) 10,335.78 91282CNN7 US TREASURY 3.875 07/31/30 1,750,000.00 1,757,929.69 7,929.69 1,757,784.90 (149.62) 1,757,635.28 (294.41) 7,635.28 91282CFL0 US TREASURY 3.875 09/30/29 1,600,000.00 1,571,750.00 (28,250.00) 1,579,318.09 489.79 1,579,807.89 8,057.89 (20,192.11) 91282CFY2 US TREASURY 3.875 11/30/29 2,000,000.00 1,982,812.50 (17,187.50) 1,985,823.68 320.78 1,986,144.45 3,331.95 (13,855.55) 91282CGB1 US TREASURY 3.875 12/31/29 2,000,000.00 1,997,890.63 (2,109.37) 0.00 1.54 1,997,892.17 1.54 (2,107.83) 91282CJW2 US TREASURY 4.000 01/31/29 1,200,000.00 1,192,921.88 (7,078.12) 1,195,136.92 141.29 1,195,278.21 2,356.33 (4,721.79) 91282CGQ8 US TREASURY 4.000 02/28/30 2,000,000.00 1,992,578.13 (7,421.87) 1,993,811.58 131.40 1,993,942.97 1,364.84 (6,057.03) 91282CMU2 US TREASURY 4.000 03/31/30 2,000,000.00 1,991,250.00 (8,750.00) 1,992,678.87 152.22 1,992,831.09 1,581.09 (7,168.91) 91282CLC3 US TREASURY 4.000 07/31/29 1,500,000.00 1,490,449.22 (9,550.78) 1,493,126.08 170.75 1,493,296.82 2,847.60 (6,703.18) 91282CMB4 US TREASURY 4.000 12/15/27 1,250,000.00 1,262,695.31 12,695.31 1,261,727.02 (555.87) 1,261,171.16 (1,524.15) 11,171.16 91282CFU0 US TREASURY 4.125 10/31/27 2,000,000.00 1,992,109.38 (7,890.62) 1,997,188.91 143.09 1,997,332.00 5,222.62 (2,668.00) 91282CLR0 US TREASURY 4.125 10/31/29 1,600,000.00 1,590,125.00 (9,875.00) 1,592,725.40 168.29 1,592,893.69 2,768.69 (7,106.31) 91282CHX2 US TREASURY 4.375 08/31/28 2,000,000.00 1,989,687.50 (10,312.50) 1,993,957.49 204.94 1,994,162.43 4,474.93 (5,837.57) 91282CJP7 US TREASURY 4.375 12/15/26 2,000,000.00 2,015,937.50 15,937.50 2,013,389.35 (1,436.23) 2,011,953.13 (3,984.38) 11,953.13 91282CJA0 US TREASURY 4.625 09/30/28 2,000,000.00 2,046,093.76 46,093.76 2,025,673.91 (843.11) 2,024,830.80 (21,262.96) 24,830.80 91282CJA0 US TREASURY 4.625 09/30/28 2,000,000.00 2,015,937.50 15,937.50 2,009,213.91 (302.58) 2,008,911.33 (7,026.17) 8,911.33 910286GB3 United Fidelity Bank, Fsb 5.0 03/30/2026 248,000.00 248,000.00 0.00 248,000.00 0.00 0.00 0.00 0.00 931142FN8 WALMART 4.350 04/28/30 '30 1,500,000.00 1,501,425.00 1,425.00 1,501,191.91 (24.83) 1,501,167.07 (257.93) 1,167.07 949764HK3 WELLS FARGO BANK 5.050 11/07/28 248,000.00 247,451.92 (548.08) 247,705.21 9.31 247,714.52 262.60 (285.48) TOTAL 106,345,000.00 105,041,334.22 (1,303,665.78) 90,736,986.37 30,456.02 104,847,357.19 550,022.97 (753,642.82) GRAND TOTAL 106,345,000.00 105,041,334.22 (1,303,665.78) 90,736,986.37 30,456.02 104,847,357.19 550,022.97 (753,642.82)
CITY OF SAN RAMON | MARCH 31, 2026
19 Accrued Interest Schedule
IDENTIFIER DESCRIPTION SETTLE DATE PAR VALUE
PRINCIPAL
COST
BEGINNING
ACCRUED
INTEREST
PURCHASED
INTEREST
CURRENT
PERIOD
ACCRUAL
INTEREST
RECEIVED
ENDING
ACCRUED
INTEREST
CITY OF SAN RAMON,
CA
02079KAK3 ALPHABET 4.000 05/15/30 '30 2026-01-30 1,500,000.00 1,500,885.00 17,666.67 0.00 5,000.00 0.00 22,666.67 023135BS4 AMAZON.COM 1.500 06/03/30 '30 2025-08-19 1,500,000.00 1,334,550.00 5,500.00 0.00 1,875.00 0.00 7,375.00 037833EZ9 APPLE 4.200 05/12/30 '30 2025-05-14 1,500,000.00 1,488,735.00 19,075.00 0.00 5,250.00 0.00 24,325.00 02007GM42 Ally Bank 5.05 03/23/2026 2023-03-23 0.00 0.00 5,455.66 0.00 754.87 6,210.53 0.00 02589AEN8 American Express National Bank 5.0
03/23/2026 2023-03-22 0.00 0.00 5,401.64 0.00 781.37 6,183.01 0.00 062119BK7 BANK FIVE 4.650 03/20/28 2023-03-20 248,000.00 248,000.00 284.35 0.00 979.43 884.65 379.13 06051GGA1 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 14,435.56 108622PJ4 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 1,004.91 2546732U9 CAPITL ONE NA 5.000 03/21/28 2023-03-22 248,000.00 247,456.88 5,435.62 0.00 1,053.15 6,149.04 339.73 12547CAX6 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 5,109.82 22533UJ87 CREDIT AGRI NY 09/08/26 2026-01-05 1,250,000.00 1,218,822.93 0.00 0.00 0.00 0.00 0.00 22533UM26 CREDIT AGRI NY 12/02/26 2026-03-30 1,000,000.00 973,859.17 0.00 0.00 0.00 0.00 0.00 23204HQA9 CUSTOMERS BANK 4.050 08/13/27 2024-08-14 248,000.00 247,628.00 412.77 0.00 853.05 0.00 1,265.82 CALAIF California LAIF 2026-03-31 693,777.38 693,777.38 0.00 0.00 0.00 0.00 0.00 3133EN7A2 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 31,215.28 3133EPC45 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 35,458.33 3133ERDH1 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 39,847.22 3130AQW66 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 2,080.00 3130AUSN5 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 35,000.00 3130A07B0 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 4,216.67 3130AXU63 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 17,215.28 313385H25 FHLBANKS D NOTE 09/25/26 2026-03-31 2,000,000.00 1,964,400.00 0.00 0.00 0.00 0.00 0.00 316175108 FIDELITY IMM:GOVT;I 2026-03-31 6,496,154.70 6,496,154.70 22,269.99 0.00 50,531.02 22,269.99 50,531.02 32114VCH8 FIRST BK MCH 4.600 03/15/28 2023-03-15 248,000.00 248,000.00 437.57 0.00 968.89 875.13 531.33 3134GW6C5 FREDDIE MAC 0.800 10/28/26 '26 MTN 2026-03-31 2,000,000.00 1,966,340.00 0.00 (6,800.00) 0.00 0.00 6,800.00 459058LN1 IBRD 3.875 10/16/29 MTN 2024-11-15 1,500,000.00 1,469,736.00 21,795.00 0.00 4,845.00 0.00 26,640.00 45818WFN1 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 19,400.00
CITY OF SAN RAMON | MARCH 31, 2026
20 Accrued Interest Schedule
IDENTIFIER DESCRIPTION SETTLE DATE PAR VALUE
PRINCIPAL
COST
BEGINNING
ACCRUED
INTEREST
PURCHASED
INTEREST
CURRENT
PERIOD
ACCRUAL
INTEREST
RECEIVED
ENDING
ACCRUED
INTEREST
24422EUY3 JOHN DEERE CAP 2.800 07/18/29 MTN 2026-01-30 1,500,000.00 1,446,135.00 5,016.67 0.00 3,500.00 0.00 8,516.67 532457DB1 LILLY 4.000 10/15/28 '28 2026-03-31 2,000,000.00 1,996,980.00 0.00 (49,111.11) 0.00 0.00 49,111.11 57636QAM6 MASTERCARD 2.950 06/01/29 '29 2026-01-30 1,500,000.00 1,454,955.00 11,062.50 0.00 3,687.50 0.00 14,750.00 58933YAX3 MERCK & CO 3.400 03/07/29 '28 2026-01-30 1,500,000.00 1,477,920.00 24,650.00 0.00 4,250.00 25,500.00 3,400.00 592179KF1 METLIFE GBL FDG 5.050 01/06/28 MTN 2023-12-08 1,158,000.00 1,156,135.62 8,934.29 0.00 4,873.25 0.00 13,807.54 61768EE82 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 62479MK51 MUFG BANK NY 10/05/26 2026-03-30 2,000,000.00 1,958,945.00 0.00 0.00 0.00 0.00 0.00 63873KG19 NATIXIS NY 07/01/26 2026-01-05 1,250,000.00 1,227,137.50 0.00 0.00 0.00 0.00 0.00 66989HAT5 NOVARTIS CAP 3.800 09/18/29 '29 2026-03-31 2,000,000.00 1,971,320.00 0.00 (2,744.44) 0.00 0.00 2,744.44 67066GAE4 NVIDIA 3.200 09/16/26 '26 2026-03-31 2,000,000.00 1,994,180.00 0.00 (2,666.67) (0.00) 0.00 2,666.67 713448GL6 PEPSICO 4.100 01/15/29 '28 2026-01-30 1,500,000.00 1,510,245.00 7,858.33 0.00 5,125.00 0.00 12,983.33 795451AK9 SALLIE MAE BNK 1.100 08/11/26 2021-08-11 248,000.00 248,000.00 134.53 0.00 231.69 0.00 366.22 857477AW3 STATE STREET 2.650 05/19/26 2025-05-20 1,500,000.00 1,476,600.00 11,262.50 0.00 3,312.50 0.00 14,575.00 857894Q77 STEARNS BANK 4.050 08/14/28 2024-08-13 248,000.00 247,752.00 440.28 0.00 853.05 0.00 1,293.34 89236TKJ3 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 1,390.28 880591FE7 TVA 3.875 08/01/30 2025-08-19 1,650,000.00 1,644,472.50 5,328.13 0.00 5,328.13 0.00 10,656.25 90355GHQ2 UBS USA 5.000 11/08/28 2023-11-08 248,000.00 247,451.92 713.42 0.00 1,053.15 951.23 815.34 91282CCW9 US TREASURY 0.750 08/31/26 2021-08-31 1,000,000.00 997,798.42 3,770.38 0.00 631.79 3,750.00 652.17 91282CCZ2 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 23.91 91282CDG3 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 9,447.51 912828R36 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 12,299.72 912828U24 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 15,138.12 9128283F5 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 17,030.39 912828X88 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 9128283W8 US TREASURY 2.750 02/15/28 2026-01-06 1,250,000.00 1,232,031.25 1,329.42 0.00 2,943.72 0.00 4,273.14 91282CFJ5 US TREASURY 3.125 08/31/29 2024-09-30 1,500,000.00 1,471,230.47 23,564.88 0.00 3,948.71 23,437.50 4,076.09 91282CGJ4 US TREASURY 3.500 01/31/30 2026-01-30 2,000,000.00 1,984,062.50 5,607.73 0.00 5,994.48 0.00 11,602.21 91282CPN5 US TREASURY 3.500 11/30/30 2026-01-30 1,750,000.00 1,727,509.77 15,312.50 0.00 5,216.35 0.00 20,528.85 91282CPA3 US TREASURY 3.625 09/30/30 2026-01-30 1,750,000.00 1,738,378.91 26,490.38 0.00 5,401.69 31,718.75 173.33
CITY OF SAN RAMON | MARCH 31, 2026
21 Accrued Interest Schedule
IDENTIFIER DESCRIPTION SETTLE DATE PAR VALUE
PRINCIPAL
COST
BEGINNING
ACCRUED
INTEREST
PURCHASED
INTEREST
CURRENT
PERIOD
ACCRUAL
INTEREST
RECEIVED
ENDING
ACCRUED
INTEREST
91282CPD7 US TREASURY 3.625 10/31/30 2026-01-30 1,750,000.00 1,737,558.59 21,204.25 0.00 5,432.49 0.00 26,636.74 91282CLG4 US TREASURY 3.750 08/15/27 2026-01-06 1,250,000.00 1,255,566.41 1,812.85 0.00 4,014.16 0.00 5,827.00 91282CJR3 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 10,840.81 91282CJQ5 US TREASURY 3.750 12/31/30 2026-01-30 1,750,000.00 1,745,625.00 10,877.07 0.00 5,619.82 0.00 16,496.89 91282CNH0 US TREASURY 3.875 06/15/28 2026-01-06 1,250,000.00 1,261,425.78 10,113.32 0.00 4,125.17 0.00 14,238.50 91282CNN7 US TREASURY 3.875 07/31/30 2026-01-30 1,750,000.00 1,757,929.69 5,432.49 0.00 5,807.15 0.00 11,239.64 91282CFL0 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 31,000.00 169.40 91282CFY2 US TREASURY 3.875 11/30/29 2025-05-14 2,000,000.00 1,982,812.50 19,375.00 0.00 6,600.27 0.00 25,975.27 91282CGB1 US TREASURY 3.875 12/31/29 2026-03-31 2,000,000.00 1,997,890.63 0.00 (19,267.96) 214.08 0.00 19,482.04 91282CJW2 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 7,955.80 91282CGQ8 US TREASURY 4.000 02/28/30 2025-05-14 2,000,000.00 1,992,578.13 40,217.39 0.00 6,739.13 40,000.00 6,956.52 91282CMU2 US TREASURY 4.000 03/31/30 2025-05-14 2,000,000.00 1,991,250.00 33,406.59 0.00 6,811.99 40,000.00 218.58 91282CLC3 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 9,944.75 91282CMB4 US TREASURY 4.000 12/15/27 2026-01-06 1,250,000.00 1,262,695.31 10,439.56 0.00 4,258.24 0.00 14,697.80 91282CFU0 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 34,640.88 91282CLR0 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 27,712.71 91282CHX2 US TREASURY 4.375 08/31/28 2024-05-23 2,000,000.00 1,989,687.50 43,987.77 0.00 7,370.92 43,750.00 7,608.70 91282CJP7 US TREASURY 4.375 12/15/26 2026-01-05 2,000,000.00 2,015,937.50 18,269.23 0.00 7,451.92 0.00 25,721.15 91282CJA0 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 46,250.00 252.73 91282CJA0 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 46,250.00 252.73 910286GB3 United Fidelity Bank, Fsb 5.0 03/30/2026 2023-03-30 0.00 0.00 1,019.18 0.00 985.21 2,004.39 0.00 931142FN8 WALMART 4.350 04/28/30 '30 2025-05-14 1,500,000.00 1,501,425.00 22,293.75 0.00 5,437.50 0.00 27,731.25 949764HK3 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 TOTAL 112,790,932.08 111,487,762.30 927,855.89 (80,590.18) 319,627.76 431,540.23 896,533.61 GRAND TOTAL 112,790,932.08 111,487,762.30 927,855.89 (80,590.18) 319,627.76 431,540.23 896,533.61
CITY OF SAN RAMON | MARCH 31, 2026
22 Earnings by Fund
CUSIP DESCRIPTION
ENDING PAR
VALUE
BEGINNING
BOOK VALUE
ENDING BOOK
VALUE
FINAL
MATURITY
COUPON
RATE YIELD
INTEREST
EARNED
NET
AMORTIZATION/
ACCRETION
INCOME
NET REALIZED
GAIN/LOSS
ADJUSTED
INTEREST
EARNINGS
CITY OF SAN RAMON,
CA
02007GM42 Ally Bank 5.05 03/23/2026 0.00 247,995.01 0.00 03/23/2026 5.05 5.09 754.87 4.99 0.00 759.86 02079KAK3 ALPHABET 4.000 05/15/30 '30 1,500,000.00 1,500,867.71 1,500,849.85 05/15/2030 4.00 3.98 5,000.00 (17.86) 0.00 4,982.14 023135BS4 AMAZON.COM 1.500 06/03/30
'30 1,500,000.00 1,352,901.80 1,355,834.31 06/03/2030 1.50 4.06 1,875.00 2,932.50 0.00 4,807.50 02589AEN8 American Express National Bank
5.0 03/23/2026 0.00 247,995.02 0.00 03/23/2026 5.00 5.04 781.37 4.98 0.00 786.35 037833EZ9 APPLE 4.200 05/12/30 '30 1,500,000.00 1,490,532.21 1,490,723.67 05/12/2030 4.20 4.37 5,250.00 191.46 0.00 5,441.46 06051GGA1 BOFAML 3.248 10/21/27 '26 MTN 1,000,000.00 974,354.52 975,681.75 10/21/2027 3.25 4.98 2,706.67 1,327.23 0.00 4,033.90 062119BK7 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 0.00 979.43 108622PJ4 BRIDGEWATER BANK 5.100
11/03/26 248,000.00 247,915.82 247,926.39 11/03/2026 5.10 5.15 1,074.22 10.57 0.00 1,084.78 12547CAX6 CIBC BANK 4.450 04/13/28 248,000.00 247,736.99 247,747.52 04/13/2028 4.45 4.51 937.30 10.53 0.00 947.84 22533UJ87 CREDIT AGRI NY 09/08/26 1,250,000.00 1,225,793.41 1,229,722.23 09/08/2026 0.00 3.74 0.00 3,928.82 0.00 3,928.82 22533UM26 CREDIT AGRI NY 12/02/26 1,000,000.00 0.00 974,070.84 12/02/2026 0.00 3.91 0.00 211.67 0.00 211.67 23204HQA9 CUSTOMERS BANK 4.050
08/13/27 248,000.00 247,819.60 247,830.15 08/13/2027 4.05 4.10 853.05 10.55 0.00 863.60 24422EUY3 JOHN DEERE CAP 2.800
07/18/29 MTN 1,500,000.00 1,447,412.43 1,448,732.44 07/18/2029 2.80 3.92 3,500.00 1,320.01 0.00 4,820.01 2546732U9 CAPITL ONE NA 5.000 03/21/28 248,000.00 247,776.44 247,785.67 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 1,238,852.83 1,239,738.69 09/01/2028 4.00 4.94 4,216.67 885.86 0.00 5,102.53 3130AQW66 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 1,733.33 3130AUSN5 FHLBANKS 3.500 10/01/27 2,000,000.00 1,988,941.00 1,989,533.11 10/01/2027 3.50 3.89 5,833.33 592.11 0.00 6,425.44 3130AXU63 FHLBANKS 4.625 11/17/26 1,000,000.00 999,577.98 999,628.11 11/17/2026 4.63 4.69 3,854.17 50.12 0.00 3,904.29 313385H25 FHLBANKS D NOTE 09/25/26 2,000,000.00 0.00 1,964,600.00 09/25/2026 0.00 3.72 0.00 200.00 0.00 200.00 3133EN7A2 FED FARM CR BNKS 3.625
10/26/26 2,000,000.00 1,995,132.76 1,995,764.08 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 2,005,161.47 2,004,999.52 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 2,019,555.48 2,019,031.07 04/30/2029 4.75 4.40 7,916.67 (524.41) 0.00 7,392.25 3134GW6C5 FREDDIE MAC 0.800 10/28/26
'26 MTN 2,000,000.00 0.00 1,966,499.53 10/28/2026 0.80 3.79 0.00 159.53 0.00 159.53 316175108 FIDELITY IMM:GOVT;I 6,496,154.70 10,225,119.45 6,496,154.70 03/31/2026 3.53 3.52 50,531.02 0.00 0.00 50,531.02 32114VCH8 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 0.00 968.89
CITY OF SAN RAMON | MARCH 31, 2026
23 Earnings by Fund
CUSIP DESCRIPTION
ENDING PAR
VALUE
BEGINNING
BOOK VALUE
ENDING BOOK
VALUE
FINAL
MATURITY
COUPON
RATE YIELD
INTEREST
EARNED
NET
AMORTIZATION/
ACCRETION
INCOME
NET REALIZED
GAIN/LOSS
ADJUSTED
INTEREST
EARNINGS
45818WFN1 IDB 4.850 07/19/27 MTN 2,000,000.00 2,003,894.33 2,003,655.27 07/19/2027 4.85 4.70 8,083.33 (239.06) 0.00 7,844.28 459058LN1 IBRD 3.875 10/16/29 MTN 1,500,000.00 1,477,672.72 1,478,195.09 10/16/2029 3.88 4.33 4,845.00 522.37 0.00 5,367.37 532457DB1 LILLY 4.000 10/15/28 '28 2,000,000.00 0.00 1,996,983.25 10/15/2028 4.00 4.06 0.00 3.25 0.00 3.25 57636QAM6 MASTERCARD 2.950 06/01/29
'29 1,500,000.00 1,456,064.48 1,457,210.95 06/01/2029 2.95 3.92 3,687.50 1,146.47 0.00 4,833.97 58933YAX3 MERCK & CO 3.400 03/07/29 '28 1,500,000.00 1,478,505.16 1,479,109.82 03/07/2029 3.40 3.91 4,250.00 604.66 0.00 4,854.66 592179KF1 METLIFE GBL FDG 5.050
01/06/28 MTN 1,158,000.00 1,157,153.30 1,157,192.13 01/06/2028 5.05 5.09 4,873.25 38.83 0.00 4,912.08 61768EE82 MORGAN PVT BNK 5.050
11/08/28 248,000.00 247,707.58 247,716.80 11/08/2028 5.05 5.05 1,063.68 9.22 0.00 1,072.90 62479MK51 MUFG BANK NY 10/05/26 2,000,000.00 0.00 1,959,379.44 10/05/2026 0.00 3.99 0.00 434.44 0.00 434.44 63873KG19 NATIXIS NY 07/01/26 1,250,000.00 1,234,241.67 1,238,245.83 07/01/2026 0.00 3.79 0.00 4,004.17 0.00 4,004.17 66989HAT5 NOVARTIS CAP 3.800 09/18/29
'29 2,000,000.00 0.00 1,971,342.64 09/18/2029 3.80 4.25 0.00 22.64 0.00 22.64 67066GAE4 NVIDIA 3.200 09/16/26 '26 2,000,000.00 0.00 1,994,214.44 09/16/2026 3.20 3.84 (0.00) 34.44 0.00 34.43 713448GL6 PEPSICO 4.100 01/15/29 '28 1,500,000.00 1,509,952.29 1,509,649.81 01/15/2029 4.10 3.85 5,125.00 (302.47) 0.00 4,822.53 795451AK9 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 0.00 231.69 857477AW3 STATE STREET 2.650 05/19/26 1,500,000.00 1,494,921.43 1,496,914.29 05/19/2026 2.65 4.26 3,312.50 1,992.86 0.00 5,305.36 857894Q77 STEARNS BANK 4.050 08/14/28 248,000.00 247,847.73 247,852.99 08/14/2028 4.05 4.08 853.05 5.26 0.00 858.31 880591FE7 TVA 3.875 08/01/30 1,650,000.00 1,645,065.61 1,645,160.38 08/01/2030 3.88 3.95 5,328.13 94.77 0.00 5,422.90 89236TKJ3 TOYOTA MOTOR CRD 4.550
09/20/27 MTN 1,000,000.00 993,344.98 993,708.19 09/20/2027 4.55 5.02 3,791.67 363.21 0.00 4,154.88 90355GHQ2 UBS USA 5.000 11/08/28 248,000.00 247,704.91 247,714.22 11/08/2028 5.00 5.05 1,053.15 9.31 0.00 1,062.45 910286GB3 United Fidelity Bank, Fsb 5.0
03/30/2026 0.00 248,000.00 0.00 03/30/2026 5.00 5.00 985.21 0.00 0.00 985.21 9128283F5 US TREASURY 2.250 11/15/27 2,000,000.00 1,930,854.79 1,934,289.89 11/15/2027 2.25 4.50 3,853.59 3,435.10 0.00 7,288.69 9128283W8 US TREASURY 2.750 02/15/28 1,250,000.00 1,233,291.40 1,234,014.81 02/15/2028 2.75 3.46 2,943.72 723.42 0.00 3,667.13 912828R36 US TREASURY 1.625 05/15/26 2,000,000.00 1,994,644.49 1,996,858.10 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 2,000,546.01 2,000,480.65 11/15/2026 2.00 1.96 3,425.41 (65.35) 0.00 3,360.06 912828X88 US TREASURY 2.375 05/15/27 2,000,000.00 1,966,758.47 1,969,100.49 05/15/2027 2.38 3.88 4,067.68 2,342.02 0.00 6,409.70 91282CCW9 US TREASURY 0.750 08/31/26 1,000,000.00 999,779.03 999,816.46 08/31/2026 0.75 0.80 631.79 37.43 0.00 669.23 91282CCZ2 US TREASURY 0.875 09/30/26 1,000,000.00 998,864.83 999,030.04 09/30/2026 0.88 1.08 745.06 165.21 0.00 910.27 91282CDG3 US TREASURY 1.125 10/31/26 2,000,000.00 1,991,665.99 1,992,724.82 10/31/2026 1.13 1.78 1,926.80 1,058.83 0.00 2,985.63
CITY OF SAN RAMON | MARCH 31, 2026
24 Earnings by Fund
CUSIP DESCRIPTION
ENDING PAR
VALUE
BEGINNING
BOOK VALUE
ENDING BOOK
VALUE
FINAL
MATURITY
COUPON
RATE YIELD
INTEREST
EARNED
NET
AMORTIZATION/
ACCRETION
INCOME
NET REALIZED
GAIN/LOSS
ADJUSTED
INTEREST
EARNINGS
91282CFJ5 US TREASURY 3.125 08/31/29 1,500,000.00 1,479,500.51 1,479,997.37 08/31/2029 3.13 3.55 3,948.71 496.86 0.00 4,445.57 91282CFL0 US TREASURY 3.875 09/30/29 1,600,000.00 1,579,318.09 1,579,807.89 09/30/2029 3.88 4.28 5,279.29 489.79 0.00 5,769.08 91282CFU0 US TREASURY 4.125 10/31/27 2,000,000.00 1,997,188.91 1,997,332.00 10/31/2027 4.13 4.22 7,064.92 143.09 0.00 7,208.01 91282CFY2 US TREASURY 3.875 11/30/29 2,000,000.00 1,985,823.68 1,986,144.45 11/30/2029 3.88 4.08 6,600.27 320.78 0.00 6,921.05 91282CGB1 US TREASURY 3.875 12/31/29 2,000,000.00 0.00 1,997,892.17 12/31/2029 3.88 3.90 214.08 1.54 0.00 215.62 91282CGJ4 US TREASURY 3.500 01/31/30 2,000,000.00 1,984,389.53 1,984,727.47 01/31/2030 3.50 3.72 5,994.48 337.94 0.00 6,332.41 91282CGQ8 US TREASURY 4.000 02/28/30 2,000,000.00 1,993,811.58 1,993,942.97 02/28/2030 4.00 4.08 6,739.13 131.40 0.00 6,870.53 91282CHX2 US TREASURY 4.375 08/31/28 2,000,000.00 1,993,957.49 1,994,162.43 08/31/2028 4.38 4.51 7,370.92 204.94 0.00 7,575.87 91282CJA0 US TREASURY 4.625 09/30/28 2,000,000.00 2,025,673.91 2,024,830.80 09/30/2028 4.63 4.07 7,876.36 (843.11) 0.00 7,033.25 91282CJA0 US TREASURY 4.625 09/30/28 2,000,000.00 2,009,213.91 2,008,911.33 09/30/2028 4.63 4.43 7,876.36 (302.58) 0.00 7,573.78 91282CJP7 US TREASURY 4.375 12/15/26 2,000,000.00 2,013,389.35 2,011,953.13 12/15/2026 4.38 3.51 7,451.92 (1,436.23) 0.00 6,015.69 91282CJQ5 US TREASURY 3.750 12/31/30 1,750,000.00 1,745,698.08 1,745,773.59 12/31/2030 3.75 3.81 5,619.82 75.52 0.00 5,695.34 91282CJR3 US TREASURY 3.750 12/31/28 1,150,000.00 1,138,105.32 1,138,461.24 12/31/2028 3.75 4.15 3,693.02 355.92 0.00 4,048.95 91282CJW2 US TREASURY 4.000 01/31/29 1,200,000.00 1,195,136.92 1,195,278.21 01/31/2029 4.00 4.15 4,110.50 141.29 0.00 4,251.79 91282CLC3 US TREASURY 4.000 07/31/29 1,500,000.00 1,493,126.08 1,493,296.82 07/31/2029 4.00 4.15 5,138.12 170.75 0.00 5,308.87 91282CLG4 US TREASURY 3.750 08/15/27 1,250,000.00 1,255,053.46 1,254,759.00 08/15/2027 3.75 3.46 4,014.16 (294.47) 0.00 3,719.69 91282CLR0 US TREASURY 4.125 10/31/29 1,600,000.00 1,592,725.40 1,592,893.69 10/31/2029 4.13 4.26 5,651.93 168.29 0.00 5,820.23 91282CMB4 US TREASURY 4.000 12/15/27 1,250,000.00 1,261,727.02 1,261,171.16 12/15/2027 4.00 3.45 4,258.24 (555.87) 0.00 3,702.37 91282CMU2 US TREASURY 4.000 03/31/30 2,000,000.00 1,992,678.87 1,992,831.09 03/31/2030 4.00 4.10 6,811.99 152.22 0.00 6,964.20 91282CNH0 US TREASURY 3.875 06/15/28 1,250,000.00 1,260,733.31 1,260,335.78 06/15/2028 3.88 3.48 4,125.17 (397.53) 0.00 3,727.64 91282CNN7 US TREASURY 3.875 07/31/30 1,750,000.00 1,757,784.90 1,757,635.28 07/31/2030 3.88 3.76 5,807.15 (149.62) 0.00 5,657.53 91282CPA3 US TREASURY 3.625 09/30/30 1,750,000.00 1,738,583.51 1,738,794.92 09/30/2030 3.63 3.78 5,401.69 211.42 0.00 5,613.11 91282CPD7 US TREASURY 3.625 10/31/30 1,750,000.00 1,737,773.72 1,737,996.01 10/31/2030 3.63 3.79 5,432.49 222.30 0.00 5,654.79 91282CPN5 US TREASURY 3.500 11/30/30 1,750,000.00 1,727,892.04 1,728,287.05 11/30/2030 3.50 3.79 5,216.35 395.01 0.00 5,611.36 931142FN8 WALMART 4.350 04/28/30 '30 1,500,000.00 1,501,191.91 1,501,167.07 04/28/2030 4.35 4.33 5,437.50 (24.83) 0.00 5,412.67 949764HK3 WELLS FARGO BANK 5.050
11/07/28 248,000.00 247,705.21 247,714.52 11/07/2028 5.05 5.10 1,063.69 9.31 0.00 1,072.99 CALAIF California LAIF 693,777.38 693,777.38 693,777.38 03/31/2026 0.00 3.83 0.00 0.00 0.00 0.00 TOTAL 112,790,932.08 101,655,883.20 112,037,289.26 3.29 3.88 319,627.76 30,456.02 0.00 350,083.78
CITY OF SAN RAMON | MARCH 31, 2026
25 Earnings by Fund
CUSIP DESCRIPTION
ENDING PAR
VALUE
BEGINNING
BOOK VALUE
ENDING BOOK
VALUE
FINAL
MATURITY
COUPON
RATE YIELD
INTEREST
EARNED
NET
AMORTIZATION/
ACCRETION
INCOME
NET REALIZED
GAIN/LOSS
ADJUSTED
INTEREST
EARNINGS
GRAND TOTAL 112,790,932.08 101,655,883.20 112,037,289.26 3.29 3.88 319,627.76 30,456.02 0.00 350,083.78
CITY OF SAN RAMON | MARCH 31, 2026
26 Transaction Statement
CITY OF SAN
RAMON, CA
TRADE DATE SETTLE DATE CUSIP DESCRIPTION PAR VALUE PRINCIPAL COST
PURCHASED
INTEREST TOTAL
PURCHASE
YIELD
BUY
03/30/2026 03/30/2026 62479MK51 MUFG BANK NY 10/05/26 2,000,000.00 1,958,945.00 0.00 (1,958,945.00) 3.99 03/30/2026 03/30/2026 22533UM26 CREDIT AGRI NY 12/02/26 1,000,000.00 973,859.17 0.00 (973,859.17) 3.91 03/30/2026 03/31/2026 313385H25 FHLBANKS D NOTE 09/25/26 2,000,000.00 1,964,400.00 0.00 (1,964,400.00) 3.72 03/30/2026 03/31/2026 3134GW6C5 FREDDIE MAC 0.800 10/28/26 '26 MTN 2,000,000.00 1,966,340.00 6,800.00 (1,973,140.00) 3.79 03/30/2026 03/31/2026 66989HAT5 NOVARTIS CAP 3.800 09/18/29 '29 2,000,000.00 1,971,320.00 2,744.44 (1,974,064.44) 4.25 03/30/2026 03/31/2026 67066GAE4 NVIDIA 3.200 09/16/26 '26 2,000,000.00 1,994,180.00 2,666.67 (1,996,846.67) 3.84 03/30/2026 03/31/2026 91282CGB1 US TREASURY 3.875 12/31/29 2,000,000.00 1,997,890.63 19,267.96 (2,017,158.59) 3.90 03/30/2026 03/31/2026 532457DB1 LILLY 4.000 10/15/28 '28 2,000,000.00 1,996,980.00 49,111.11 (2,046,091.11) 4.06 BUY TOTAL 15,000,000.00 14,823,914.80 80,590.18 (14,904,504.98) 3.93
TRADE DATE SETTLE DATE CUSIP DESCRIPTION PAR VALUE BOOK VALUE TOTAL NET
REALIZED
GAIN/LOSS
MATURITY
03/23/2026 03/23/2026 02007GM42 Ally Bank 5.05 03/23/2026 (248,000.00) 248,000.00 248,000.00 0.00 03/23/2026 03/23/2026 02589AEN8 American Express National Bank 5.0 03/23/2026 (248,000.00) 248,000.00 248,000.00 0.00 03/30/2026 03/30/2026 910286GB3 United Fidelity Bank, Fsb 5.0 03/30/2026 (248,000.00) 248,000.00 248,000.00 0.00 MATURITY TOTAL (744,000.00) 744,000.00 744,000.00 0.00
CITY OF SAN RAMON | MARCH 31, 2026
27 Income/Dividend Received
IDENTIFIER DESCRIPTION PAYMENT DATE POST DATE
INTEREST/DIVIDENDS
RECEIVED
US BANK
316175108 FIDELITY IMM:GOVT;I 02/27/2026 03/02/2026 22,269.99 91282CHX2 US TREASURY 4.375 08/31/28 02/28/2026 03/02/2026 43,750.00 91282CFJ5 US TREASURY 3.125 08/31/29 02/28/2026 03/02/2026 23,437.50 91282CGQ8 US TREASURY 4.000 02/28/30 02/28/2026 03/02/2026 40,000.00 910286GB3 United Fidelity Bank, Fsb 5.0 03/30/2026 02/28/2026 03/02/2026 985.21 91282CCW9 US TREASURY 0.750 08/31/26 02/28/2026 03/02/2026 3,750.00 3130A07B0 FHLBANKS 4.000 09/01/28 03/01/2026 03/02/2026 25,300.00 108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 03/03/2026 03/03/2026 970.26 949764HK3 WELLS FARGO BANK 5.050 11/07/28 03/07/2026 03/09/2026 960.75 58933YAX3 MERCK & CO 3.400 03/07/29 '28 03/07/2026 03/09/2026 25,500.00 90355GHQ2 UBS USA 5.000 11/08/28 03/08/2026 03/09/2026 951.23 32114VCH8 FIRST BK MCH 4.600 03/15/28 03/15/2026 03/16/2026 875.13 89236TKJ3 TOYOTA MOTOR CRD 4.550 09/20/27 MTN 03/20/2026 03/20/2026 22,750.00 062119BK7 BANK FIVE 4.650 03/20/28 03/20/2026 03/20/2026 884.65 02007GM42 Ally Bank 5.05 03/23/2026 03/23/2026 03/23/2026 6,210.53 02589AEN8 American Express National Bank 5.0 03/23/2026 03/23/2026 03/23/2026 6,183.01 2546732U9 CAPITL ONE NA 5.000 03/21/28 03/22/2026 03/23/2026 6,149.04 910286GB3 United Fidelity Bank, Fsb 5.0 03/30/2026 03/30/2026 03/30/2026 1,019.18 91282CMU2 US TREASURY 4.000 03/31/30 03/31/2026 03/31/2026 40,000.00 91282CCZ2 US TREASURY 0.875 09/30/26 03/31/2026 03/31/2026 4,375.00 91282CJA0 US TREASURY 4.625 09/30/28 03/31/2026 03/31/2026 92,500.00 91282CFL0 US TREASURY 3.875 09/30/29 03/31/2026 03/31/2026 31,000.00 91282CPA3 US TREASURY 3.625 09/30/30 03/31/2026 03/31/2026 31,718.75 US BANK - TOTAL 431,540.23
TOTAL 431,540.23
CITY OF SAN RAMON | MARCH 31, 2026
28 Contribution/Withdrawals and Expenses
POST DATE PAR VALUE TOTAL
CITY OF SAN RAMON, CA
CONTRIBUTION
03/09/2026 1,000,000.00 1,000,000.00
03/11/2026 9,000,000.00 9,000,000.00
CONTRIBUTION TOTAL 10,000,000.00 10,000,000.00
CITY OF SAN RAMON | MARCH 31, 2026
29 CUSIP DESCRIPTION POST DATE AMOUNT
3130AUSN5 FHLBANKS 3.500 10/01/27 04/01/2026 35,000.00
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 04/03/2026 1,074.21 949764HK3 WELLS FARGO BANK 5.050 11/07/28 04/07/2026 1,063.68 90355GHQ2 UBS USA 5.000 11/08/28 04/08/2026 1,053.15
12547CAX6 CIBC BANK 4.450 04/13/28 04/14/2026 5,502.88
32114VCH8 FIRST BK MCH 4.600 03/15/28 04/15/2026 968.90 532457DB1 LILLY 4.000 10/15/28 '28 04/15/2026 52,222.22 459058LN1 IBRD 3.875 10/16/29 MTN 04/16/2026 29,062.50
062119BK7 BANK FIVE 4.650 03/20/28 04/20/2026 979.43
06051GGA1 BOFAML 3.248 10/21/27 '26 MTN 04/21/2026 16,240.00 3133EN7A2 FED FARM CR BNKS 3.625 10/26/26 04/27/2026 36,250.00 931142FN8 WALMART 4.350 04/28/30 '30 04/28/2026 32,625.00 3134GW6C5 FREDDIE MAC 0.800 10/28/26 '26 MTN 04/28/2026 8,000.00 91282CPD7 US TREASURY 3.625 10/31/30 04/30/2026 31,718.75 91282CLR0 US TREASURY 4.125 10/31/29 04/30/2026 33,000.00 3133ERDH1 FED FARM CR BNKS 4.750 04/30/29 04/30/2026 47,500.00 91282CFU0 US TREASURY 4.125 10/31/27 04/30/2026 41,250.00 91282CDG3 US TREASURY 1.125 10/31/26 04/30/2026 11,250.00 APR 2026 TOTAL 384,760.73
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 05/04/2026 1,039.56 949764HK3 WELLS FARGO BANK 5.050 11/07/28 05/07/2026 1,029.37 90355GHQ2 UBS USA 5.000 11/08/28 05/08/2026 1,019.18
61768EE82 MORGAN PVT BNK 5.050 11/08/28 05/08/2026 6,210.53 037833EZ9 APPLE 4.200 05/12/30 '30 05/12/2026 31,500.00 3133EPC45 FED FARM CR BNKS 4.625 11/13/28 05/13/2026 46,250.00 02079KAK3 ALPHABET 4.000 05/15/30 '30 05/15/2026 30,000.00 32114VCH8 FIRST BK MCH 4.600 03/15/28 05/15/2026 937.64 912828R36 US TREASURY 1.625 05/15/26 05/15/2026 3,141.90 Projected Cash Flows
For the Period April 01, 2026 to March 31, 2027
CITY OF SAN RAMON | MARCH 31, 2026
30 CUSIP DESCRIPTION POST DATE AMOUNT
912828X88 US TREASURY 2.375 05/15/27 05/15/2026 23,750.00 9128283F5 US TREASURY 2.250 11/15/27 05/15/2026 22,500.00 912828R36 US TREASURY 1.625 05/15/26 05/15/2026 16,250.00 912828U24 US TREASURY 2.000 11/15/26 05/15/2026 20,000.00 3130AXU63 FHLBANKS 4.625 11/17/26 05/18/2026 23,125.00
857477AW3 STATE STREET 2.650 05/19/26 05/19/2026 19,875.00 857477AW3 STATE STREET 2.650 05/19/26 05/19/2026 3,085.71 062119BK7 BANK FIVE 4.650 03/20/28 05/20/2026 947.84
MAY 2026 TOTAL 250,661.74
91282CFY2 US TREASURY 3.875 11/30/29 06/01/2026 38,750.00 91282CPN5 US TREASURY 3.500 11/30/30 06/01/2026 30,625.00 57636QAM6 MASTERCARD 2.950 06/01/29 '29 06/01/2026 22,125.00 108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 06/03/2026 1,074.21 023135BS4 AMAZON.COM 1.500 06/03/30 '30 06/03/2026 11,250.00 90355GHQ2 UBS USA 5.000 11/08/28 06/08/2026 1,053.15
949764HK3 WELLS FARGO BANK 5.050 11/07/28 06/08/2026 1,063.68 91282CMB4 US TREASURY 4.000 12/15/27 06/15/2026 25,000.00 32114VCH8 FIRST BK MCH 4.600 03/15/28 06/15/2026 968.90 91282CJP7 US TREASURY 4.375 12/15/26 06/15/2026 43,750.00 91282CNH0 US TREASURY 3.875 06/15/28 06/15/2026 24,218.75 062119BK7 BANK FIVE 4.650 03/20/28 06/22/2026 979.43
91282CGB1 US TREASURY 3.875 12/31/29 06/30/2026 38,750.00 91282CJR3 US TREASURY 3.750 12/31/28 06/30/2026 21,562.50 91282CJQ5 US TREASURY 3.750 12/31/30 06/30/2026 32,812.50 JUN 2026 TOTAL 293,983.13
63873KG19 NATIXIS NY 07/01/26 07/01/2026 11,754.17
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 07/03/2026 1,039.56 592179KF1 METLIFE GBL FDG 5.050 01/06/28 MTN 07/06/2026 29,239.50 Projected Cash Flows
For the Period April 01, 2026 to March 31, 2027
CITY OF SAN RAMON | MARCH 31, 2026
31 CUSIP DESCRIPTION POST DATE AMOUNT
949764HK3 WELLS FARGO BANK 5.050 11/07/28 07/07/2026 1,029.37 90355GHQ2 UBS USA 5.000 11/08/28 07/08/2026 1,019.18
713448GL6 PEPSICO 4.100 01/15/29 '28 07/15/2026 30,750.00 32114VCH8 FIRST BK MCH 4.600 03/15/28 07/15/2026 937.64 24422EUY3 JOHN DEERE CAP 2.800 07/18/29 MTN 07/20/2026 21,000.00 062119BK7 BANK FIVE 4.650 03/20/28 07/20/2026 947.84
45818WFN1 IDB 4.850 07/19/27 MTN 07/20/2026 48,500.00
91282CJW2 US TREASURY 4.000 01/31/29 07/31/2026 24,000.00 91282CGJ4 US TREASURY 3.500 01/31/30 07/31/2026 35,000.00 91282CNN7 US TREASURY 3.875 07/31/30 07/31/2026 33,906.25 91282CLC3 US TREASURY 4.000 07/31/29 07/31/2026 30,000.00 JUL 2026 TOTAL 269,123.51
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 08/03/2026 1,074.21 880591FE7 TVA 3.875 08/01/30 08/03/2026 31,968.75
949764HK3 WELLS FARGO BANK 5.050 11/07/28 08/07/2026 1,063.68 90355GHQ2 UBS USA 5.000 11/08/28 08/10/2026 1,053.15
795451AK9 SALLIE MAE BNK 1.100 08/11/26 08/11/2026 1,352.79 857894Q77 STEARNS BANK 4.050 08/14/28 08/13/2026 4,980.72 23204HQA9 CUSTOMERS BANK 4.050 08/13/27 08/14/2026 4,980.72 32114VCH8 FIRST BK MCH 4.600 03/15/28 08/17/2026 968.90 9128283W8 US TREASURY 2.750 02/15/28 08/17/2026 17,187.50 91282CLG4 US TREASURY 3.750 08/15/27 08/17/2026 23,437.50 062119BK7 BANK FIVE 4.650 03/20/28 08/20/2026 979.43
3130AQW66 FHLBANKS 2.080 02/25/27 '25 08/25/2026 10,400.00 91282CFJ5 US TREASURY 3.125 08/31/29 08/31/2026 23,437.50 91282CHX2 US TREASURY 4.375 08/31/28 08/31/2026 43,750.00 91282CCW9 US TREASURY 0.750 08/31/26 08/31/2026 183.54
91282CGQ8 US TREASURY 4.000 02/28/30 08/31/2026 40,000.00 Projected Cash Flows
For the Period April 01, 2026 to March 31, 2027
CITY OF SAN RAMON | MARCH 31, 2026
32 CUSIP DESCRIPTION POST DATE AMOUNT
91282CCW9 US TREASURY 0.750 08/31/26 08/31/2026 3,750.00 AUG 2026 TOTAL 210,568.40
3130A07B0 FHLBANKS 4.000 09/01/28 09/01/2026 25,300.00
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 09/03/2026 1,074.21 22533UJ87 CREDIT AGRI NY 09/08/26 09/08/2026 20,277.77
90355GHQ2 UBS USA 5.000 11/08/28 09/08/2026 1,053.15
58933YAX3 MERCK & CO 3.400 03/07/29 '28 09/08/2026 25,500.00 949764HK3 WELLS FARGO BANK 5.050 11/07/28 09/08/2026 1,063.68 32114VCH8 FIRST BK MCH 4.600 03/15/28 09/15/2026 968.90 67066GAE4 NVIDIA 3.200 09/16/26 '26 09/16/2026 5,785.56 67066GAE4 NVIDIA 3.200 09/16/26 '26 09/16/2026 32,000.00 66989HAT5 NOVARTIS CAP 3.800 09/18/29 '29 09/18/2026 38,000.00 89236TKJ3 TOYOTA MOTOR CRD 4.550 09/20/27 MTN 09/21/2026 22,750.00 062119BK7 BANK FIVE 4.650 03/20/28 09/21/2026 979.43
2546732U9 CAPITL ONE NA 5.000 03/21/28 09/22/2026 6,250.96 313385H25 FHLBANKS D NOTE 09/25/26 09/25/2026 35,400.00 91282CFL0 US TREASURY 3.875 09/30/29 09/30/2026 31,000.00 91282CCZ2 US TREASURY 0.875 09/30/26 09/30/2026 4,375.00 91282CMU2 US TREASURY 4.000 03/31/30 09/30/2026 40,000.00 91282CPA3 US TREASURY 3.625 09/30/30 09/30/2026 31,718.75 91282CCZ2 US TREASURY 0.875 09/30/26 09/30/2026 969.96
91282CJA0 US TREASURY 4.625 09/30/28 09/30/2026 92,500.00 SEP 2026 TOTAL 416,967.37
3130AUSN5 FHLBANKS 3.500 10/01/27 10/01/2026 35,000.00
108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 10/05/2026 1,039.56 62479MK51 MUFG BANK NY 10/05/26 10/05/2026 40,620.56
949764HK3 WELLS FARGO BANK 5.050 11/07/28 10/07/2026 1,029.37 90355GHQ2 UBS USA 5.000 11/08/28 10/08/2026 1,019.18
Projected Cash Flows
For the Period April 01, 2026 to March 31, 2027
CITY OF SAN RAMON | MARCH 31, 2026
33 CUSIP DESCRIPTION POST DATE AMOUNT
12547CAX6 CIBC BANK 4.450 04/13/28 10/14/2026 5,533.12
532457DB1 LILLY 4.000 10/15/28 '28 10/15/2026 40,000.00 32114VCH8 FIRST BK MCH 4.600 03/15/28 10/15/2026 937.64 459058LN1 IBRD 3.875 10/16/29 MTN 10/16/2026 29,062.50
062119BK7 BANK FIVE 4.650 03/20/28 10/20/2026 947.84
06051GGA1 BOFAML 3.248 10/21/27 '26 MTN 10/21/2026 16,240.00 3133EN7A2 FED FARM CR BNKS 3.625 10/26/26 10/26/2026 4,235.92 3133EN7A2 FED FARM CR BNKS 3.625 10/26/26 10/26/2026 36,250.00 3134GW6C5 FREDDIE MAC 0.800 10/28/26 '26 MTN 10/28/2026 33,500.47 931142FN8 WALMART 4.350 04/28/30 '30 10/28/2026 32,625.00 3134GW6C5 FREDDIE MAC 0.800 10/28/26 '26 MTN 10/28/2026 8,000.00 3133ERDH1 FED FARM CR BNKS 4.750 04/30/29 10/30/2026 47,500.00 91282CDG3 US TREASURY 1.125 10/31/26 10/31/2026 7,275.18 OCT 2026 TOTAL 340,816.34
91282CPD7 US TREASURY 3.625 10/31/30 11/02/2026 31,718.75 91282CLR0 US TREASURY 4.125 10/31/29 11/02/2026 33,000.00 91282CFU0 US TREASURY 4.125 10/31/27 11/02/2026 41,250.00 91282CDG3 US TREASURY 1.125 10/31/26 11/02/2026 11,250.00 108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 11/03/2026 73.61 108622PJ4 BRIDGEWATER BANK 5.100 11/03/26 11/03/2026 1,074.21 949764HK3 WELLS FARGO BANK 5.050 11/07/28 11/09/2026 1,063.68 61768EE82 MORGAN PVT BNK 5.050 11/08/28 11/09/2026 6,313.47 90355GHQ2 UBS USA 5.000 11/08/28 11/09/2026 1,053.15
037833EZ9 APPLE 4.200 05/12/30 '30 11/12/2026 31,500.00 3133EPC45 FED FARM CR BNKS 4.625 11/13/28 11/13/2026 46,250.00 912828U24 US TREASURY 2.000 11/15/26 11/15/2026 (480.65) 912828X88 US TREASURY 2.375 05/15/27 11/16/2026 23,750.00 9128283F5 US TREASURY 2.250 11/15/27 11/16/2026 22,500.00 Projected Cash Flows
For the Period April 01, 2026 to March 31, 2027
CITY OF SAN RAMON | MARCH 31, 2026
34 CUSIP DESCRIPTION POST DATE AMOUNT
912828U24 US TREASURY 2.000 11/15/26 11/16/2026 20,000.00 02079KAK3 ALPHABET 4.000 05/15/30 '30 11/16/2026 30,000.00 32114VCH8 FIRST BK MCH 4.600 03/15/28 11/16/2026 968.90 3130AXU63 FHLBANKS 4.625 11/17/26 11/17/2026 23,125.00
3130AXU63 FHLBANKS 4.625 11/17/26 11/17/2026 371.89
062119BK7 BANK FIVE 4.650 03/20/28 11/20/2026 979.43
91282CPN5 US TREASURY 3.500 11/30/30 11/30/2026 30,625.00 91282CFY2 US TREASURY 3.875 11/30/29 11/30/2026 38,750.00 NOV 2026 TOTAL 395,136.44
57636QAM6 MASTERCARD 2.950 06/01/29 '29 12/01/2026 22,125.00 22533UM26 CREDIT AGRI NY 12/02/26 12/02/2026 25,929.16
023135BS4 AMAZON.COM 1.500 06/03/30 '30 12/03/2026 11,250.00 949764HK3 WELLS FARGO BANK 5.050 11/07/28 12/07/2026 1,029.37 90355GHQ2 UBS USA 5.000 11/08/28 12/08/2026 1,019.18
91282CJP7 US TREASURY 4.375 12/15/26 12/15/2026 43,750.00 91282CJP7 US TREASURY 4.375 12/15/26 12/15/2026 (11,953.13) 91282CNH0 US TREASURY 3.875 06/15/28 12/15/2026 24,218.75 91282CMB4 US TREASURY 4.000 12/15/27 12/15/2026 25,000.00 32114VCH8 FIRST BK MCH 4.600 03/15/28 12/15/2026 937.64 062119BK7 BANK FIVE 4.650 03/20/28 12/21/2026 947.84
91282CJQ5 US TREASURY 3.750 12/31/30 12/31/2026 32,812.50 91282CGB1 US TREASURY 3.875 12/31/29 12/31/2026 38,750.00 91282CJR3 US TREASURY 3.750 12/31/28 12/31/2026 21,562.50 DEC 2026 TOTAL 237,378.82
592179KF1 METLIFE GBL FDG 5.050 01/06/28 MTN 01/06/2027 29,239.50 949764HK3 WELLS FARGO BANK 5.050 11/07/28 01/07/2027 1,063.68 90355GHQ2 UBS USA 5.000 11/08/28 01/08/2027 1,053.15
32114VCH8 FIRST BK MCH 4.600 03/15/28 01/15/2027 968.90 Projected Cash Flows
For the Period April 01, 2026 to March 31, 2027
CITY OF SAN RAMON | MARCH 31, 2026
35 CUSIP DESCRIPTION POST DATE AMOUNT
713448GL6 PEPSICO 4.100 01/15/29 '28 01/15/2027 30,750.00 45818WFN1 IDB 4.850 07/19/27 MTN 01/19/2027 48,500.00
24422EUY3 JOHN DEERE CAP 2.800 07/18/29 MTN 01/19/2027 21,000.00 062119BK7 BANK FIVE 4.650 03/20/28 01/20/2027 979.43
JAN 2027 TOTAL 133,554.66
91282CGJ4 US TREASURY 3.500 01/31/30 02/01/2027 35,000.00 91282CNN7 US TREASURY 3.875 07/31/30 02/01/2027 33,906.25 880591FE7 TVA 3.875 08/01/30 02/01/2027 31,968.75
91282CLC3 US TREASURY 4.000 07/31/29 02/01/2027 30,000.00 91282CJW2 US TREASURY 4.000 01/31/29 02/01/2027 24,000.00 949764HK3 WELLS FARGO BANK 5.050 11/07/28 02/08/2027 1,063.68 90355GHQ2 UBS USA 5.000 11/08/28 02/08/2027 1,053.15
9128283W8 US TREASURY 2.750 02/15/28 02/16/2027 17,187.50 91282CLG4 US TREASURY 3.750 08/15/27 02/16/2027 23,437.50 23204HQA9 CUSTOMERS BANK 4.050 08/13/27 02/16/2027 5,063.28 32114VCH8 FIRST BK MCH 4.600 03/15/28 02/16/2027 968.90 857894Q77 STEARNS BANK 4.050 08/14/28 02/16/2027 5,063.28 062119BK7 BANK FIVE 4.650 03/20/28 02/22/2027 979.43
3130AQW66 FHLBANKS 2.080 02/25/27 '25 02/25/2027 10,400.00 FEB 2027 TOTAL 220,091.72
91282CHX2 US TREASURY 4.375 08/31/28 03/01/2027 43,750.00 91282CGQ8 US TREASURY 4.000 02/28/30 03/01/2027 40,000.00 3130A07B0 FHLBANKS 4.000 09/01/28 03/01/2027 25,300.00
91282CFJ5 US TREASURY 3.125 08/31/29 03/01/2027 23,437.50 90355GHQ2 UBS USA 5.000 11/08/28 03/08/2027 951.23
949764HK3 WELLS FARGO BANK 5.050 11/07/28 03/08/2027 960.75 58933YAX3 MERCK & CO 3.400 03/07/29 '28 03/08/2027 25,500.00 32114VCH8 FIRST BK MCH 4.600 03/15/28 03/15/2027 875.13 Projected Cash Flows
For the Period April 01, 2026 to March 31, 2027
CITY OF SAN RAMON | MARCH 31, 2026
36 CUSIP DESCRIPTION POST DATE AMOUNT
66989HAT5 NOVARTIS CAP 3.800 09/18/29 '29 03/18/2027 38,000.00 2546732U9 CAPITL ONE NA 5.000 03/21/28 03/22/2027 6,149.04 062119BK7 BANK FIVE 4.650 03/20/28 03/22/2027 884.65
89236TKJ3 TOYOTA MOTOR CRD 4.550 09/20/27 MTN 03/22/2027 22,750.00 91282CPA3 US TREASURY 3.625 09/30/30 03/31/2027 31,718.75 91282CJA0 US TREASURY 4.625 09/30/28 03/31/2027 92,500.00 91282CFL0 US TREASURY 3.875 09/30/29 03/31/2027 31,000.00 91282CMU2 US TREASURY 4.000 03/31/30 03/31/2027 40,000.00 MAR 2027 TOTAL 423,777.05
GRAND TOTAL 3,576,819.89
Projected Cash Flows
For the Period April 01, 2026 to March 31, 2027
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Disclosure
City of San Ramon
Investment Report - Supplementary Information
Investments Held by Trustees at March 31, 2026
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 POB
Computershare Money Market 3,100,497.97 3,100,496.97 2010 POB Computershare Money Market 1,094.60 1,094.60 2010 POB
Computershare Money Market 67.61 67.61 2010 POB
Computershare Money Market 247,879.02 247,879.02 2010 POB Computershare Money Market 496.24 496.24 2010 POB
Dreyfus Govt Cash Mgmt X9USDYRUT 3.43% n/a 148,388.42 148,388.42 2019 COP Dreyfus Govt Cash Mgmt X9USDYRUT 3.38% n/a 2.66 2.66 2019 COP $ 3,498,428.26 $ 3,498,427.26
INVESTMENT TERMINOLOGY
Basis Points – A standard measure for interest rates that represents one one-hundredth of one percent.
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.
Fair Value – Also known as market value, fair value is the price that buyers and sellers of a financial instrument would agree upon if the instrument was sold in the market today.
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).
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.
Finance Committee Staff Report
Item No. 2.4.
Date: April 29, 2026
To: San Ramon Finance Committee
From: Jennifer Wakeman, Department Director
Subject: PARS Pension Stabilization Trust Statements for the Quarter Ended March 31, 2026
Executive Summary:
The PARS Pension Stabilization Trust was established as a tool for the City to pre-fund pension obligations and to smooth employer contributions over the years. Every month account statements are issued and these are summarized on a quarterly basis for presentation to the Finance Committee.
Recommendation:
Finance Committee is asked to review and accept the PARS Pension Stabilization Trust Statements for the quarter ended March 31, 2026.
Background:
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 is 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 and investment restrictions as the current CalPERS contributions and would not necessarily improve the plan’s overall funded status in the long run. Pre-funding the pension obligations through the PARS Trust versus CalPERS offers the following benefits:
• Provides 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
• Offers potential for higher investment returns
• Acts as a reserve fund to help the City pay for increasing CalPERS annual contribution requirements and helps mitigate General Fund budget spiking
On January 1, 2026, the PARS Trust had a balance of $1,915,812. During this quarter, there were investment gains of $12,006 and expenses of $1,199, which left an ending balance of $1,926,619 at March 31, 2026.
Fiscal Impact:
This item is for informational purposes only – no fiscal impact.
Alternative Option(s):
Provide feedback for a different report format or an alternative operation of the PARS Pension Stabilization Trust.
Next Steps:
Implement feedback received from the Finance Committee.
Attachment(s):
A. Pars Stmt - Jan 2026
B. Pars Stmt - Feb 2026
C. Pars Stmt - Mar 2026
CITY OF SAN RAMON
PARS Post-Employment Benefits Trust 1/1/2026 to 1/31/2026 Steven Spedowfski
City Manager
City of San Ramon
7000 Bollinger Canyon Rd.
San Ramon, CA 94583
Account Summary
Source 1/1/2026 Contributions Earnings Expenses Distributions Transfers 1/31/2026 PENSION 1002 $1,915,812.25 $0.00 $2,556.70 $399.13 $0.00 $0.00 $1,917,969.82 Totals $1,915,812.25 $0.00 $2,556.70 $399.13 $0.00 $0.00 $1,917,969.82 Investment Selection
Source
PENSION
Investment Objective
Source
PENSION
Investment Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years PENSION 0.13% 0.70% 3.78% 6.03% 3.21% - 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
ATTACHMENT A
CITY OF SAN RAMON
PARS Post-Employment Benefits Trust 2/1/2026 to 2/28/2026 Steven Spedowfski
City Manager
City of San Ramon
7000 Bollinger Canyon Rd.
San Ramon, CA 94583
Account Summary
Source 2/1/2026 Contributions Earnings Expenses Distributions Transfers 2/28/2026 PENSION 1002 $1,917,969.82 $0.00 $5,048.64 $399.58 $0.00 $0.00 $1,922,618.88 Totals $1,917,969.82 $0.00 $5,048.64 $399.58 $0.00 $0.00 $1,922,618.88 Investment Selection
Source
PENSION
Investment Objective
Source
PENSION
Investment Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years PENSION 0.26% 0.66% 3.72% 6.98% 2.94% - 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
ATTACHMENT B
CITY OF SAN RAMON
PARS Post-Employment Benefits Trust 3/1/2026 to 3/31/2026 Steven Spedowfski
City Manager
City of San Ramon
7000 Bollinger Canyon Rd.
San Ramon, CA 94583
Account Summary
Source 3/1/2026 Contributions Earnings Expenses Distributions Transfers 3/31/2026 PENSION 1002 $1,922,618.88 $0.00 $4,400.23 $400.55 $0.00 $0.00 $1,926,618.56 Totals $1,922,618.88 $0.00 $4,400.23 $400.55 $0.00 $0.00 $1,926,618.56 Investment Selection
Source
PENSION
Investment Objective
Source
PENSION
Investment Return
Source 1-Month 3-Months 1-Year 3-Years 5-Years 10-Years PENSION 0.23% 0.62% 3.60% 6.49% 2.81% - 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 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
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
ATTACHMENT C
Finance Committee Staff Report
Item No. 2.5.
Date: April 29, 2026
To: San Ramon Finance Committee
From: Jennifer Wakeman, Department Director
Subject: California Employers' Benefit Trust (CERBT) Statement for the Quarter Ended March 31, 2026
Executive Summary:
The CERBT was created to commit resources toward the City’s obligation to retirees for health benefits. Statements are issued quarterly and then presented to the Finance Committee.
Recommendation:
Finance Committee is asked to review and accept the CERBT Statement for the quarter ended March 31, 2026.
Background:
On November 14, 2014, the City Council approved participation in CERBT for purposes of pre-funding the City’s long-term obligation for health benefits accrued to retired City employees. Assets in this Trust can only be used for payment of these benefits and may not be used for other governmental purposes.
At the start of January 2026, the CERBT had a balance of $41,021,773. During this quarter, the trust had investment gains of $156,236, and expenses of $7,232 leaving an ending balance of $41,170,777 on March 31, 2026.
As of the most recent actuarial valuation, which has a measurement date of June 30, 2024, the OPEB liability measured $44,515,123 and was 78% funded.
Fiscal Impact:
This item is for informational purposes only - there is no fiscal impact.
Alternative Option(s):
Provide feedback for a different report format or an alternative operation of the CERBT.
Next Steps:
Implement feedback received from the Finance Committee.
Attachment(s):
A. City of San Ramon 3.31.2026
City of San Ramon
Please note the Grand Total is your actual fund account balance at the end of the period, including all contributions per GASB 74 paragraph 22 and accrued disbursements. Please review your statement promptly. All information contained in your statement will be considered true and accurate unless you contact us within 30 days of receipt of this statement. If you have questions about the validity of this information, please contact [email protected]. 1,646,409.850 1,646,409.850
$41,170,777.00 $41,170,777.00
Period Ending Unit Value 25.006396 25.006396
Period Beginning Unit Value 24.915894 23.428483
0.000
0.000
1,646,409.850
0.000
0.000
1,646,409.850
Current Period Year to Date
Ending Units
Unit Sales for Withdrawals
Unit Purchases from Contributions
Beginning Units
Market Value Summary: Unit Value Summary:
Grand Total $41,170,777.00 $41,170,777.00
0.00 (8,248.97)
0.00 2,619,278.01
0.00 $38,572,885.28
0.00 (2,789.28)
0.00 156,235.54
0.00 $41,021,772.97
Current Period Year to Date
Ending Balance
Disbursement
Administrative Expenses
Other
Investment Earnings
Contribution
Beginning Balance
QTD Fiscal QTD Fiscal
FY End Contrib per GASB 74 Para 22 0.00 0.00
Transfer In
Transfer Out
0.00 0.00
0.00 0.00
Unit Transfer In
Unit Transfer Out
0.000
0.000
0.000
0.000
Investment Expense (4,442.23) (13,137.32)
CERBT Strategy 2
Entity #: SKB7-4889155551-001
Quarter Ended March 31, 2026
FY End Disbursement Accrual 0.00 0.00
ATTACHMENT A
Statement of Transaction Detail for the Quarter Ending 03/31/2026 City of San Ramon
Entity #: SKB7-4889155551-001
Date Description Amount Unit Value Units Check/Wire Notes If you have any questions or comments regarding the new statement format please contact [email protected] Client Contact:
Finance Committee Staff Report
Item No. 2.6.
Date: April 29, 2026
To: San Ramon Finance Committee
From: Jennifer Wakeman, Department Director
Yuliya Elbo, Budget Program Manager
Subject: FY26 Budget to Actual Analysis: July 2025 — January 2026 Executive Summary:
The Finance Department is reinstating the practice of issuing regular financial analysis reports to City officials to support fiduciary responsibilities, strengthen ongoing monitoring of the City’s financial position, and promote informed decision-making and responsible fiscal oversight.
Recommendation:
Staff recommends the Finance Committee review the budget to actual analyses covering Quarters 1 through 3 (9 months) of FY2025-26 and provide feedback on the content of the information provided.
Background:
Aligned with making the Finance Department the single source of accountability and communication for all budget and accounting matters, the Department is redesigning the quarterly financial reports. The goal is to provide clear, concise analyses that support ongoing monitoring of the City’s financial position, informed decision-making, and responsible fiscal oversight.
Budget-to-actual analysis is a key governance tool. It helps ensure compliance with adopted budgets, policies, and funding restrictions, while enabling management to monitor spending trends, identify variances early, and take corrective action as needed. It also strengthens transparency, accountability, and alignment with approved financial plans.
The Finance Department presented its first budget-to-actual report on February 18, 2026, covering the first six months of FY26. The report presented today covers the nine-month period of FY25-26 and incorporates feedback from that February meeting.
Governmental funds are reported using the current financial resources measurement focus
and the modified accrual basis of accounting. Under this method, revenues are recognized when they are measurable and available—typically collectible within 60 days after year-end. During the year, revenues are generally recorded when received.
Expenditures are recorded when a liability is incurred for goods or services received, except for debt service, compensated absences, and claims and judgments, which are recognized only when payment is due.
Revenue Analyses
Most general revenue sources are performing as expected. Property tax revenue follows the Contra Costa County distribution schedule, and the City has now received the largest portion of its FY26 allocation—about 58% of advance collections for properties assessed as of January 1, 2024. Based on updated County data, property tax revenue is projected to come in approximately 3.5% ($720K) above budget.
On April 13, 2026, City staff met with our sales tax consultant (HdL) to review the Quarter 4 (October–December 2025) sales tax analysis. HdL’s updated forecast indicates that the Bradley-Burns sales tax is expected to meet the FY26 budgeted amount of $13.2M. While use-tax pool allocations are slightly stronger due to e-commerce activity, overall sales tax growth is expected to soften because of declining building and construction material sales following the expiration of the 30% federal solar investment tax credit, which temporarily boosted activity among material suppliers and electrical contractors.
Measure N revenue is now projected to exceed the FY26 budget by roughly $300K. Because the City has limited historical data, these estimates remain volatile and are influenced by buyer behavior and retroactive corrections for under-reported prior-quarter revenue.
Fuel-related taxable sales remain highly volatile entering 2026, following weaker results in the fourth quarter of calendar year 2025. Geopolitical tensions involving Iran drove significant swings in crude oil markets, with West Texas Intermediate (WTI) prices ranging between $80 and $120 per barrel in March. Each $10 increase in WTI generally adds about $0.24 per gallon at California pumps, creating substantial volatility in fuel prices and associated sales tax collections. Structural supply pressures—including the closure of the Phillips 66 refinery in Los Angeles, the scheduled shutdown of the Valero Benicia refinery, and strict CARB regulations—are adding additional upward pressure. While higher prices may temporarily increase taxable sales, long-term growth in this category averages about 2% annually. Any short-term revenue gains will be offset by higher fuel costs for Police and Public Works operations.
As previously reported on February 18, 2026, garbage franchise fee revenue is projected to fall short of budget by approximately $942K due to the new agreement with Alameda County Industries (effective November 25, 2025), which applies a revised fee-calculation methodology.
Most departmental charges for services are performing on target. Several revenue categories, however, are outperforming expectations, including:
• Business tax collections—boosted by HdL’s recovery efforts—up approximately $430K. • Electric vehicle charging station revenue—$19K above budget year-to-date. • Certain Police Department permit revenues—about $15K above budget.
One additional item for Council’s attention is interest revenue (aka "investment income").
Although FY26 interest earnings are on pace with budget, an accounting correction is affecting year-to-date reporting. During the FY25 audit, staff identified that the FY24 year-end accrual for interest earned but not yet received was not reversed in FY25, which overstated FY25 investment income. The required correction in FY26 has resulted in a temporary negative balance in Investment Interest. This will resolve by year-end once all FY26 interest earnings and the required year-end accrual (per GASB 31) are recorded.
Expenditure Analyses
Overall, expenditures are in line with the budget. Personnel costs—representing roughly
74.8% of the total operating budget—are tracking as expected. Citywide vacancies remain low (9.2%, monthly average for 2025), with most openings resulting from internal promotions rather than turnover. This creates opportunities to hire new entry level staff while advancing existing employees into higher responsibility roles.
Because the City follows the modified accrual basis of accounting, most non-personnel expenditures do not yet reflect a full nine months of activity. Invoices for goods and services are typically paid 30–60 days after receipt of the goods or completion of the service. In addition, some costs do not occur evenly throughout the year. Training and development expenses arise when employees attend conferences or courses, and consulting services are billed as work is completed rather than in equal monthly increments.
Conclusion
Both the General Fund and the Dougherty Valley CSA fund – the City’s two major operating funds – are demonstrating strong adherence to the budget.
Fiscal Impact:
Committee's recommendations and feedback may have an impact on the financial results of FY 2025-26.
Alternative Option(s):
Staff is looking for recommendations on potential report improvements to further support City Council in making informed financial decisions.
Next Steps:
Staff will continue to revise this report and attachments to improve financial planning and transparency.
Attachment(s):
A. General Fund and Dougherty Valley Fund: Budget to Actuals
ATTACHMENT A
FY 2026
Revised Budget
Actual
Jul-2025 - March
2026
% of Budget
Used
REVENUE
Property Tax $ 26,311,354 $ 15,889,301 60.39%
Sales and Use Tax 13,179,800 7,321,605 55.55% Measure N 14,841,584 8,209,087 55.31%Property Transfer Tax 638,282 373,944 58.59%Transient Occupancy Taxes (TOT) 2,441,856 1,454,233 59.55% Franchise Fees 6,244,990 2,773,545 44.41%
Licenses and Permits 3,621,223 4,405,685 121.66%Intergovernmental 2,326,496 1,279,428 54.99% Charges for Services 6,848,087 5,482,028 80.05%
Fines and Forfeitures 200,000 96,937 48.47%
Investment Income 418,005 (255,827) -61.20%Miscellaneous Revenue 3,907,227 2,186,868 55.97% TOTAL REVENUES $ 80,978,903 $ 49,216,835 60.78%
EXPENDITURES
$ 7,993,068 $ 4,380,586 54.80%
$ 5,278,853 $ 2,987,088 56.59%$ 2,714,215 $ 1,393,497 51.34% City Administration - TOTAL
Personnel
Non-PersonnelHuman Resources - TOTAL $ 1,681,106 $ 762,444 45.35% Personnel $ 1,272,245 $ 607,428 47.74%
Non-Personnel $ 408,861 $ 146,590 35.85%
Finance - TOTAL 2,412,381 1,279,739 53.05%
Personnel $ 2,153,239 $ 1,092,583 50.74%
Non-Personnel $ 259,142 $ 178,649 68.94%
GENERAL FUND
REVENUE - EXPENDITURE - FUND BALANCE
ATTACHMENT A
FY 2026
Revised Budget
Actual
Jul-2025 - March
2026
% of Budget
Used
GENERAL FUND
REVENUE - EXPENDITURE - FUND BALANCE
Community Development - TOTAL 6,622,082 3,601,042 54.38% Personnel $ 5,414,164 $ 2,741,572 50.64%Non-Personnel $ 1,207,918 $ 828,052 68.55% Police Services - TOTAL 23,098,947 12,405,542 53.71%
Personnel $ 18,918,031 $ 11,102,147 58.69%
Non-Personnel $ 4,180,916 $ 1,303,395 31.17%
Public Works - TOTAL 19,940,876 10,692,924 53.62%
Personnel $ 12,525,406 $ 6,906,102 55.14%
Non-Personnel $ 7,415,470 $ 3,786,822 51.07%
Parks & Community Services - TOTAL 10,284,904 5,932,224 57.68% Personnel $ 8,048,031 $ 4,655,945 57.85%Non-Personnel $ 2,236,873 $ 1,276,280 57.06% Non-Departmental 50,000 0 0.00%
Personnel $ -
Non-Personnel $ 50,000 $ - 0.00%
Total Expenditures 72,083,364 39,054,501 54.18%
TOTAL EXPENDITURES $ 72,083,364 $ 39,054,501 54.18%
OTHER FINANCING SOURCES (USES)
Operating Transfers In $ 1,765,525 $ -
Operating Transfers Out (7,944,976) $ -
TOTAL OTHER FINANCING SOURCES (USES) $ (6,179,451) $ -
ATTACHMENT A
Description FY 2026 Revised
Budget*
Actual
Jul-2025 - March
2026
% of Budget
Used
REVENUECSA Special Assessment $ 23,225,582 $ 12,094,577 44.18%Miscellaneous Revenue 650 173 TOTAL REVENUES 23,226,232 12,094,750 52.07%
EXPENDITURESNon-Departmental -
Police Services 12,372,856 6,605,328 51.32%
Public Works 14,740,141 8,346,936 55.93%TOTAL EXPENDITURES $ 27,112,997 $ 14,952,264 55.15%OTHER FINANCING SOURCES (USES)Operating Transfers In 4,149,817 Operating Transfers Out (151,327) - TOTAL OTHER FINANCING SOURCES (USES) $ 3,998,490 $ -
DOUGHERTY VALLEY FUND
REVENUE - EXPENDITURE - FUND BALANCE