Agenda packet — City Council and Concurrent Authorities, March 31, 2026 (part 1 of 5)

City Council and Concurrent Authorities
City of Stockton
Meeting Agenda - Final
City Council and
Concurrent Authorities
Christina Fugazi, Mayor/Chair (At Large)
Jason Lee, Vice Mayor (District 6)
Michele Padilla (District 1)
Mariela Ponce (District 2)
Michael Blower (District 3)
Mario Enríquez (District 4)
Brando Villapudua (District 5)
Council Chamber, City Hall, 425 N. El Dorado
Street, Stockton CA
3:30 PMTuesday, March 31, 2026
Closed Session 3:30 PM :: Regular Session 5:30 PM

1. CLOSED SESSION CALL TO ORDER/ROLL CALL

2. ADDITIONS TO CLOSED SESSION AGENDA

3. ANNOUNCEMENT OF CLOSED SESSION

3.1 26-0219

CONFERENCE WITH LABOR NEGOTIATOR
Agency
Designated Representative: City Manager; Deputy City Manager Will Crew; Deputy City Manager Christine Tien; City Attorney; Chief Financial Officer, Admin Budget Officer; Director of Human Resources; Supervising HR Analyst Labor; and Legal Counsel, Che Johnson and Michael Jarvis of Liebert Cassidy Whitmore
Employee Organizations: Unrepresented Units, Stockton City Employees’ Association, Operating Engineer’s Local 3, Mid-Management/Supervisory Level Unit, Unrepresented Management/Confidential, Law Department, Stockton Police Management Association, Stockton Firefighters Local 456 International Association of Firefighters, Stockton Fire Management, Stockton Police Officers’ Association (SPOA)
This Closed Session is authorized pursuant to section 54957.6(a) of the Government Code.

Department: City Attorney

3.2 26-0235 CONFERENCE WITH LEGAL COUNSEL - SIGNIFICANT EXPOSURE

TO LITIGATION
Number of Cases: Three

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final
The City is in receipt of information concerning facts and circumstances that
might result in litigation against the City which are known to potential plaintiffs and that pertain to potential employment-related claims by the potential plaintiffs against the City.

This Closed Session is authorized pursuant to section 54956.9, subd. (d) (2), (e)(2) of the Government Code.

Department: City Attorney

3.3 26-0236 CONFERENCE WITH LEGAL COUNSEL - SIGNIFICANT EXPOSURE

TO LITIGATION
Number of Cases: One
The
City is in receipt of information concerning facts and circumstances that might result in litigation against the City which are known to a potential plaintiff and that pertain to potential employment-related claims by the potential plaintiff against the City.

This Closed Session is authorized pursuant to section 54956.9, subd. (d) (2), (e)(2) of the Government Code.

Department: City Attorney

3.4 26-0237 CONFERENCE WITH LEGAL COUNSEL - SIGNIFICANT EXPOSURE

This Closed Session is authorized pursuant to section 54956.9, subd. (d) (2), (e)(2) of the Government Code.

Department: City Attorney

4. CLOSED SESSION PUBLIC COMMENT

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final

5. RECESS TO CLOSED SESSION

6. REGULAR SESSION CALL TO ORDER/ROLL CALL

7. INVOCATION/PLEDGE TO FLAG

8. REPORT OF ACTION TAKEN IN CLOSED SESSION

9. ADDITIONS TO REGULAR SESSION AGENDA***

10. RECOGNITIONS, ANNOUNCEMENTS, OR REPORTS

10.1 26-0385
PRESENTATION: INTRODUCTION OF CITY OF STOCKTON’S

MASCOT OLLIE
Department: City Clerk

11. PUBLIC COMMENTS* – MATTERS NOT ON THE AGENDA

12. CONSENT AGENDA

12.1 26-0266 APPROVAL OF REFUND TO BIG VALLEY FORD LINCOLN, MERCURY, INC.

Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution:

1. Authorizing a refund in the amount of $68,972.17 for the Business License Tax paid by Big Valley Ford Lincoln, Mercury, Inc.; and

2. Authorizing the City Manager to take appropriate and necessary actions to carry out the purpose and intent of the resolution.

Department: Administrative Services
Attachment A - Big Valley Ford Lincoln Mercury Inc Refund Request Proposed Resolution
Attachments:

12.2 26-0274 ACCEPTANCE OF THE QUARTERLY INVESTMENT REPORT FOR QUARTER ENDED DECEMBER 31, 2025
Recommended Action: RECOMMENDATION
It is recommended that the City Council, by motion, accept the Quarterly Investment Report for the quarter ending on December 31, 2025 Department: Administrative Services

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final
Attachment A - PFMAM Investment Report
Attachment B - Chandler Investment Report
Attachment C - Quarterly Investment Certification
Attachment D - Investment Policy
Attachments:

12.3 26-0318 ADOPT A RESOLUTION AUTHORIZING MARCI A. ARREDONDO, AS

CITY ATTORNEY, TO ACCEPT DEEDS AND GRANTS OF REAL

PROPERTY AND INTERESTS THEREIN
Recommended Action:

RECOMMENDATION
It is recommended that a resolution be adopted rescinding Resolution No.2026-01-27-1201, adopted on January 27, 2026, and authorizing Marci A. Arredondo, as City Attorney, to accept deeds and grants of real property and interests therein and to consent to the recordation thereof, effective immediately.

Department: City Attorney
Proposed ResolutionAttachments:

12.4 26-0333 CONFIRMATION OF MAYORAL AND CHANCELLOR JOINT

APPOINTMENT TO THE STOCKTON CENTER SITE AUTHORITY
Recommended Action: RECOMMENDATION
It is recommended that Council approve the confirmation of the Mayoral and Chancellor joint appointment of Kathleen Hart to Stockton Center Site Authority for a four-year term to end July 19, 2027.

Department: City Clerk

12.5 26-0342 APPROVAL OF CITY COUNCIL MINUTES
Recommended Action: RECOMMENDATION
Approve the minutes from the City Council meetings of January 13, 2026, January 27, 2026, February 3, 2026, February 17, 2026, February 19, 2026, March 3, 2026, March 9, 2026
Department: City Clerk
Attachment A - 2026-01-13
Attachment B – 2026-01-27
Attachment C – 2026-02-03
Attachment D – 2026-02-17
Attachment E – 2026-02-19
Attachment F – 2026-03-03
Attachment G – 2026-03-09
Attachments:

12.6 26-0336 ADOPT A RESOLUTION TO ACCEPT $126,997 CALTRANS CLEAN

CALIFORNIA COMMUNITY CLEANUP AND EMPLOYMENT

PATHWAY (CCEP) GRANT

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Authorize the City Manager to execute a grant agreement in the amount of $126,997 with the California Department of Transportation.

2. Authorize the City Manager to appropriate grant revenues and expenditures for the Caltrans Clean California Community Cleanup and Employment Pathway (CCEP) Grant in the amount of $126,997.

It is also recommended that the City Manager be authorized to take any necessary and appropriate actions to carry out the purpose and intent of the resolution.

Department: City Manager
Attachment A - CCEP Award Letter
Attachment B - CCEP Contract Checklist
Attachment C - CCEP Program Grant Proposal
Attachment D - CCEP Signed Memo
Proposed Resolution
Exhibit 1 - CCEP Grant Agreement
Attachments:

12.7 26-0298 ADOPT A RESOLUTION APPROVING JUDITH BLUMHORST AS A

PUBLIC MEMBER TO THE MOSSDALE TRACT ENHANCED
FINANCING DISTRICT’S PUBLIC FINANCING AUTHORITY
Recommended Action:

RECOMMENDATION
It is recommended that the City Council adopt a Resolution approving Judith Blumhorst as a public member to the Mossdale Tract Enhanced Infrastructure Financing District's Public Financing Authority.

Department: City Manager
Proposed ResolutionAttachments:

12.8 26-0256 RESOLUTION AUTHORIZING ACCEPTANCE OF GRANT FUNDS

FROM THE STATE OF CALIFORNIA BOARD OF STATE
COMMUNITY CORRECTIONS, IN THE AMOUNT OF $2,000,000, FOR

THE CALIFORNIA VIOLENCE INTERVENTION AND PREVENTION
(CALVIP) GRANT FOR THE PERIOD JANUARY 1, 2026, THROUGH
JUNE 30, 2029, AND AUTHORIZING EXECUTION OF GRANT

AGREEMENTS

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final
Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a resolution to:

1. Authorize the City Manager to execute a grant agreement from the State of California Board of State Community Corrections, in the amount of $2,000,000.

2. Authorize the City Manager to appropriate grant revenues and expenditures in the amount of $2,000,000.

3. Authorize the addition of two full-time, grant-funded, limited-term, positions and two part-time, grant-funded, limited-term positions; full-time positions include one OVP program supervisor, one OVP outreach worker; part-time positions include two OVP outreach workers for the duration of the grant term.

4. Authorize the City Manager, or designee, to execute and manage sub-recipient and consultant agreements in the amounts consistent with the Grant Agreement.

5. The City Manager, or designee, is hereby authorized and directed to take whatever actions are necessary and appropriate to carry out the purpose and intent of this Resolution.

Department: City Manager
Attachment A – CalVIP August 2025 Application
Attachment B – CalVIP Cohort 5 Budget Narrative
Proposed Resolution
Attachments:

12.9 26-0077 APPROVE MOTION TO AUTHORIZE A REFUND OF PLANNING

FEES - RYAN VAN GRONINGEN OF FIVE CORNERS GROUP
Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion:

1. Authorizing a refund in the amount of $27,091.45 for fees connected with Planning Application P24-0177 paid by Ryan Van Groningen of Five Corners Group.

2. Authorizing the City Manager to take appropriate and necessary actions to carry out the purpose and intent of the motion.

Department: Community Development
Attachment A - Refund Request
Attachment B - Proof of Payment
Attachments:

12.10 26-0308 RESOLUTION APPOINTING AMELIA LEWIS AND LEONEL

MARTINEZ TO THE STOCKTON ARTS COMMISSION

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Appoint Amelia Lewis to the Stockton Arts Commission with term to commence immediately upon approval.

2. Appoint Leonel Martinez to the Stockton Arts Commission with term to commence immediately upon approval.

3. Authorize the City Manager, or designee, to take whatever actions are appropriate and necessary to carry out the purpose and intent of this Resolution.

Department: Community Services
Attachment A - SAC Redacted Candidate Applications.pdf
Proposed Resolution
Attachments:

12.11 25-1164 ADOPT A RESOLUTION AWARDING MULTIPLE PROFESSIONAL

SERVICES AGREEMENTS FOR THE ENTREPRENEURSHIP
ECOSYSTEM BUILDING PROGRAM (PUR 26-004)
Recommended Action:

RECOMMENDATION
It is recommended that the City Council adopt a Resolution to:

1. Approve findings which support and justify an exception to the competitive bidding process pursuant to Stockton Municipal Code section

3.68.070(A)(3), where the City used a competitive Request for Proposals process.

2. Authorize the City Manager, or designee, to enter into three (3) Professional Services Agreements with selected business service organizations for the Entrepreneurship Ecosystem Building Program (PUR 26-004), funded through the Community Development Block Grant (CDBG) program, for a total of $307,290. The agreements will be for one-year terms beginning April 1, 2026, with the option to extend for up to one additional year, if funding allows; and

3. Authorize the City Manager, or designee, to take appropriate actions to carry out the purpose and intent of this Resolution.

Department: Economic Development
Attachment A - Request for Proposals (PUR 26-004)
Proposed Resolution - Entrepreneurship Agreements
Exhibit 1 - CDBG Agreement with A Tavola
Exhibit 2 - CDBG Agreement with Uptima Cooperative
Exhibit 3 - CDBG Agreement with California Asian Pacific Chamber of Commerce Attachments:

12.12 26-0221 ADOPT A RESOLUTION AUTHORIZING AN APPLICATION FOR, AND

IF AWARDED, ACCEPT AND APPROPRIATE PROHOUSING

INCENTIVE PROGRAM FUNDS

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Authorize the City Manager, or designee, to submit a grant application to the California Department of Housing and Community Development for the Pro-housing Incentive Pilot Program;

2. Authorize the City Manager, or designee, to accept the grant award, enter into, execute, and deliver on behalf of the City of Stockton any and all documents including applications, agreements, amendments, and payment requests deemed necessary to secure the Pro-housing Pilot Program grant, and make all necessary appropriations in compliance with and for the purposes stated in the grant application; and

3. Authorize the City Manager, or designee, to accept and to appropriate grant revenues and expenditures; and

4. Authorize the City Manager, or designee, to take appropriate and necessary actions to carry out the purpose and intent of this resolution.

Department: Economic Development
Attachment A - Resolution 2023-03-07-1205-01
Proposed Resolution - PIP Round 4
Attachments:

12.13 26-0288 APPROVE A MOTION TO AUTHORIZE A MEMORANDUM OF

UNDERSTANDING BETWEEN THE CITY OF STOCKTON AND THE
SAN JOAQUIN COUNTY SHERIFF’S OFFICE FOR SUBSURFACE

SEARCH AND RECOVERY OPERATIONS
Recommended Action:

RECOMMENDATION
It is recommended that City Council approve a motion to:

1. Approve a Memorandum of Understanding (MOU) between the City of Stockton and the San Joaquin County Sheriff's Office (SJCSO) regarding the transfer of underwater search and recovery responsibilities (Attachment A);

2. Approve the donation of the Stockton Fire Department's SCUBA equipment and associated trailer, as listed in Attachment B - Exhibit A of the MOU, to the San Joaquin County Sheriff's Office; and

3. Authorize the City Manager, or designee, to execute the MOU and any related documents.

Department: Fire
Attachment A - SCUBA MOU
Attachment B - Water Rescue Inventory
Attachments:

12.14 26-0215 APPROVE A MOTION TO ENTER INTO A COOPERATIVE

AGREEMENT TO PURCHASE SHARP MULTI-FUNCTIONAL

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final

COPIER EQUIPMENT, RELATED SUPPLIES, AND MAINTENANCE

SERVICES
Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Approve entering into a cooperative agreement (Attachment A) utilizing the Sourcewell Contract Number 112124 to acquire multi-functional copier equipment, related supplies, and maintenance services with Sharp Electronics Corporation and its authorized dealer for Stockton, CA, Smile Business Products for three years through January 10, 2029, with three (3) additional one-year extension through January 10, 2032, for a total estimated amount of $2,066,058.42.

2. Approve findings which support and justify an exception to the competitive bid process; and

3. Authorize the City Manager, or designee, to take necessary and appropriate actions to carry out the purpose and intent of this motion.

Department: Information Technology
Attachment A - Coop Agreement with Sharp Electronics and Smile Business ProductsAttachments:

12.15 26-0062 APPROVE MOTION TO ENTER INTO A NEW CONTRACT WITH ESRI

FOR PROFESSIONAL SERVICES AND EXTEND PURCHASE

AUTHORITY FOR ESRI SOFTWARE MAINTENANCE AND SUPPORT
Recommended Action:

RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Enter into a contract with Environmental Systems Research Institute, Inc. (ESRI) for professional services in a one-time amount of $100,575 (Attachment A).

2. Authorize Purchase Authority for ongoing ESRI software maintenance and support, quoted at $186,823.42, effective August 4, 2026, to August 3, 2028 (Attachment B).

3. Authorize additional subscriptions for an estimated amount of $52,000 over the next two years.

4. Approve findings for an exception to the competitive bidding process; and

5. Authorize the City Manager, or designee, to take necessary and appropriate actions to carry out the purpose and intent of this motion.

Department: Information Technology
Attachment A - ESRI Professional Services Agreement
Attachment B - ESRI Maintenance Multi-Year Renewal Quotes Attachments:

12.16 26-0194 ADOPT A RESOLUTION TO AWARD TWO FIVE-YEAR CONTRACTS

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March 31, 2026City Council and Concurrent
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Meeting Agenda - Final

WITH UNIVAR SOLUTIONS USA, LLC AND HILL BROTHERS

CHEMICAL COMPANY TO PURCHASE WATER TREATMENT

CHEMICALS
Recommended Action:

RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Award a five-year contract in the amount of $4,755,300 to Univar Solutions USA, LLC to purchase sodium hypochlorite for water treatment at the Delta Water Treatment Plant.

2. Award a five-year contract in the amount of $814,300 to Hill Brothers Chemical Company to purchase aqueous ammonia for water treatment at the Delta Water Treatment Plant.

It is also recommended that the City Manager be authorized to take appropriate and necessary actions to carry out the purpose and intent of this resolution.

Department: Municipal Utilities
Proposed Resolution
Exhibit 1 - Standard Agreement - Univar Solutions
Exhibit 2 - Standard Agreement - Hill Bros
Attachments:

12.17 26-0269 APPROVE MOTION TO ADOPT STANDARD AGREEMENT AMENDMENT NO. 4 BETWEEN FLOCK GROUP INC. AND THE CITY
OF STOCKTON IN AN AMOUNT OF $3,150,000 FOR THE ADDITION

OF FLOCK DRONE AS FIRST RESPONDER SYSTEM
Recommended Action:

RECOMMENDATION
It is recommended that City Council approve a motion to:

1. Approve findings pursuant to Stockton Municipal Code section 3.68.070 in support of an exception to the competitive bidding process; and

2. Authorize the City Manager to approve Standard Agreement Amendment No. 4 between Flock Group Inc. (Flock) and the City of Stockton (City), in the amount of $3,150,000 for the addition of the Flock Drone as First Responder (DFR) platform services, and extend the contract term through April 14, 2031.

It is further recommended that the City Manager, or designee, be authorized to take appropriate and necessary actions to carry out the purpose and intent of this motion.

Department: Police
Amendment A - Agreement and QuoteAttachments:

12.18 26-0162 APPROVE MOTION TO AWARD A SERVICE CONTRACT FOR

COMMUNITY CENTERS GYM FLOOR REFINISHING PROJECT

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final
Recommended Action: RECOMMENDATION
It is recommended that the City Council approve a motion to:

1. Approve findings pursuant to Stockton Municipal Code section 3.68.070 in support of an exception to the competitive bidding process.

2. Award a Service Contract in the amount of $157,200 to Old Growth Sport Floors, Inc. of West Sacramento, CA, for the Community Centers Gym Floor Refinishing, Project No. OM-24-124.

It is also recommended that the City Manager be authorized to take appropriate and necessary actions to carry out the purpose and intent of this motion.

Department: Public Works
Attachment A - Service ContractAttachments:

13. ADMINISTRATIVE MATTERS

14. UNFINISHED BUSINESS

15. HEARINGS**

15.1 25-1400
ADOPT BY MOTION THE 2025 GENERAL PLAN AND HOUSING

ELEMENT ANNUAL PROGRESS REPORTS AND AUTHORIZE THE

CITY MANAGER TO SUBMIT REPORTS TO THE STATE HOUSING

DEPARTMENTS TO COMPLY WITH STATE LAW
Recommended Action:

RECOMMENDATION

It is recommended that the City Council adopt by motion the 2025 Annual Progress Reports for the Envision Stockton 2040 General Plan and the 2023-2031 Housing Element and authorize the City Manager to submit reports to the State of California Department of Housing and Community Development and the Office of Planning and Research as required by state law.

Department: Community Development
Attachment A - 2025 General Plan APR
Attachment B - 2025 Housing Element Annual Progress Report (APR).pdf Attachments:

15.2 26-0295 ZONING MAP AMENDMENT TO REZONE 2.69± ACRES FROM

COMMERCIAL, NEIGHBORHOOD (CN) TO COMMERCIAL,
GENERAL (CG) AT 9450 WEST LANE AND 1530 EAST MORADA
LANE (APPLICATION NO. P25-0025)
Recommended Action:

RECOMMENDATION
It is recommended that the City Council adopt an Ordinance approving a Zoning Map Amendment to rezone 2.69
� acres (APNs 090-550-64 and
-65) from Commercial, Neighborhood (CN) to Commercial, General (CG).

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March 31, 2026City Council and Concurrent
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Meeting Agenda - Final
Department: Community Development
Attachment A - Vicinity Map
Attachment B - General Plan Map
Attachment C - Zoning Map
Attachment D - Tentative Parcel Map
Attachment E - Development Plans
Attachment F - Approved Resolutions
Proposed Ordinance
Exhibit 1 - Zoning Map Amendment
Attachments:

15.3 26-0170 PROPOSITION 218 PUBLIC HEARING TO CONSIDER

STORMWATER RATE ADJUSTMENTS AND ANY PROTESTS
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Determine, at the close of the public hearing, that no majority protest has been filed by the property owners and customers of record subject to the proposed Stormwater Fees.

2. Adopt the Final Stormwater Rate Study Report (Attachment A) prepared by HDR Engineering, Inc.

3. Direct the City Manager to mail ballots to all property owners or customers of record subject to the proposed rates and charges, and to schedule a public hearing as required by Proposition 218 on June 9, 2026, as the deadline for submission of ballots and the end of the voting period.

It is also recommended that the City Manager be authorized to take appropriate and necessary actions to carry out the purpose and intent of this resolution.

Department: Municipal Utilities
Attachment A - Comprehensive Stormwater Rate Study
Proposed Resolution
Attachments:

16. NEW BUSINESS

16.1 26-0278 ADOPT A RESOLUTION DE-OBLIGATING PREVIOUSLY

ALLOCATED AFFORDABLE HOUSING FUNDING AND APPROVING

AFFORDABLE HOUSING LOAN AWARDS TO ELIGIBLE
RESPONDENTS TO THE 2025 AFFORDABLE HOUSING NOTICE OF

FUNDING AVAILABILITY (NOFA)

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final
Recommended Action: RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Approve the de-obligation of $1,614,000 of Home Investment Partnerships Program (HOME) and Low-and Moderate-income Housing Fund (LMIHF), funding from the Sierra Vista, Phase III project, (Delta Community Developers Corporation (DCDC), developer);

2. Approve loans to the following three affordable housing developments in the amounts specified, provided that, as a condition of funding, the borrower demonstrates to the City Manager's or designee's satisfaction that each project meets the underwriting and general requirements of the 2025 Affordable Housing Notice of Funding Availability (NOFA) guidelines:
a. $5,000,000 to Visionary Home Builders for the development of either The View at Channel (132 units) or The Don Shalvey Apartment (108 units) projects, dependent on which project achieves full funding to construct first;
b. $2,800,000 to Mutual Housing for the development of the Fairview Terrace (76 units) project;
c. $4,179,838 to DCDC for the development of the Danny Drive (66 units) project;
Funding sources for the loans can include the use of any combination of HOME, HOME American Rescue Plan (HOME-ARP), LMIHF, Permanent Local Housing Allocation (PLHA), Neighborhood Stabilization Program (NSP), Community Development Block Grant (CDBG), and/or Homeless Housing Assistance and Prevention (HHAP), based on eligibility and timeliness of the funding source(s) at the time of full project funding commitments and construction schedule;

3. Approve the allocation of: up to 132-units of affordable housing units to Visionary Home Builders for The View at Channel or the Don Shalvey Apartment projects; up to 76 units to Mutual Housing for the Fairview Terrace project; and up to 66 units to DCDC for the Danny Drive project pursuant to Article XXXIV of the California Constitution.

4. Authorize the City Manager, or designee, to de-obligate and reallocate funding allocations awarded under this resolution if any project is unable to meet the underwriting and general requirements of the 2025 NOFA, including but not limited to ability to meet: securing of full funding stack deadlines; construction start deadlines; and/or inability to meet any other City requirements, including underwriting program guidelines. If defunded, the City Manager is authorized to reallocate the funding to eligible projects that have competed in a City of Stockton Housing NOFA that can meet the funding source agency timeliness and general City affordable housing program guidelines.

5. Authorize the City Manager, or designee, to take actions that are necessary and appropriate to carry out the purpose and intent of this resolution, including the execution of loan documents, subordination

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final
agreements, and the reallocation of funding sources.

Department: Economic Development
Attachment A - Resolution 2019-04-02-1119
Attachment B - Resolution 2020-01-28-1401
Attachment C - Motion 2025-11-04-1601
Attachment D - Resolution 2024-11-19-1505
Attachment E - Resolution 2024-01-09-1501
Attachment F - Checklist of Home Rental Housing Requirements Attachment G - Project Selection Criteria
Attachment H - Housing Source Funds Description 2026
Attachment I - Score Matrix
Proposed Resolution
Attachments:

16.2 26-0310 FY 2025-26 MID-YEAR ADJUSTMENTS
Recommended Action: RECOMMENDATION
It is recommended that the City Council approve by motion:

1. The FY 2025-26 mid-year appropriation requests that total $6,494,273, as described in Attachment A; and

2. Establishing three (3) new full-time employees (FTEs) in the Community Services Department: 1 Marketing and Social Media Analyst II; 1 Library Manager; 1 Library Assistant II.

It is also recommended that the City Council authorize the City Manager to take appropriate and necessary actions to carry out the purpose and intent of this motion.

Department: Administrative Services
Attachment A - FY2025-26 Mid Year Request List
Attachment B - CSD Library Positions Information Summary Attachments:

16.3 26-0366 ACCEPT THE SINGLE AUDIT AND INDEPENDENT AUDITORS’ REPORTS FOR THE YEAR ENDED JUNE 30, 2024
Recommended Action: RECOMMENDATION
It is recommended the City Council accept by motion the Single Audit and Independent Auditor's Reports for the year ended June 30, 2024.

Department: Administrative Services
Attachment A - 2024 Single AuditAttachments:

16.4 26-0340 UPDATE ON POLICE SUBSTATIONS
Recommended Action: RECOMMENDATION
Informational only. No action to be taken.

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final
Department: City Manager

17. CITY MANAGER'S UPDATE

18. COUNCIL COMMENTS

19. ADJOURNMENT

1. INFORMATIONAL ITEMS

1.1 26-0230

COUNCIL COMMITTEE/BOARD AND COMMISSION MINUTES
Recommended Action: RECOMMENDATION
Information item only. No action required.

Department: City Clerk
Ad Hoc Homelessness 2025-10-02
Ad Hoc Homelessness 2025-12-04
CICP 2025-10-22
CICP 2025-11-19
Leg 2025-10-20
Leg 2025-12-08
Attachments:

CERTIFICATE OF POSTING
I declare, under penalty of perjury, that I am employed by the City of Stockton and that I caused this agenda to be posted in the City Hall notice case on March 26, 2026 in compliance with the Brown Act.

Katherine Roland, CMC, CPMC
City Clerk
By: ________________________________

Deputy

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final

PUBLIC COMMENTS
*Citizens may comment on any subject within the jurisdiction of the City Council/Successor Agency to the Redevelopment Agency/Public Finance Authority/Parking Authority, including items on the Agenda. The time limit for public comment is four (4) minutes and remains at the discretion of the presiding officer and changes shall be set at the start of the meeting. Speakers must submit “Request to Speak” cards to the City Clerk, and be prepared to speak when called. No speaker cards will be received after the close of the Citizen’s Comments portion of the meeting.

**Speakers should hold comments on items listed as a Hearing until the Hearing is opened.

The City of Stockton invites public comments in multiple forms. You provide your comments by using one of these methods:

1. Email - you may email your comments to [email protected]

2. Voicemail - you can leave a voice message by dialing (209) 937-8459.

3. In-Person Comments - a) Speakers must submit "request to speak cards" to the Clerk prior to the Public Comment portion of the agenda. No speaker cards will be accepted after the close of Public Comment. b) Address only issues over which the meeting body has jurisdiction. c) The time limit for public comment is at the discretion of the presiding officer and shall be set at the start of the meeting. Donating time is not authorized. d) Your time will be displayed on the speaker podium for convenience. *All written and voicemail public comments received by the Clerk's Office 90 minutes prior to the meeting start time will be forwarded to the meeting body members as correspondence and attached to the minutes. All comments received after that time will be forwarded as correspondence the following business day. Written and voicemail comments will not be read into the record.

In accordance with the Americans With Disabilities Act and California Law, it is the policy of the City of Stockton to offer its public programs, services and meetings in a manner that is readily accessible to everyone, including those with disabilities. If you are disabled and require a copy of a public hearing notice, or an agenda and/or agenda packet in an appropriate alternative format; or if you require other accommodation, please contact the Office of the City Clerk located at 425 North El Dorado Street, Stockton, California 95202 during normal business hours or by calling (209) 937-8458, at least 5 days in advance of the hearing/meeting. Advance notification within this guideline will enable the City/Agency to make reasonable arrangements to ensure accessibility.

Materials related to an item on this agenda submitted to City Council after distribution of the agenda packet are available for public inspection in the City Clerk's Office at 425 North El Dorado Street, Stockton, California 95202, during normal business hours. Such documents are also available on the City's website at www.stocktongov.com subject to staff's ability to post the documents before the meeting.

CHALLENGING CITY DECISIONS: The time limit within which to commence any lawsuit or legal challenge to any quasi-adjudicative decision made by the City is governed by Section 1094.6 of the Code of Civil Procedure, unless a shorter limitation period is specified by any other provision. Under Section 1094.6, any lawsuit or legal challenge to any quasi-adjudicative decision made by the City must be filed no later than the 90th day following the date on which such decision becomes final. Any lawsuit or legal challenge, which is not filed within that 90-day period, will be barred. If a person wishes to challenge the nature of the above section in court, they may be limited to raising only those issues they or someone else raised at the meeting described in this notice, or in written correspondence delivered to the City of Stockton, at or prior to the meeting. In addition, judicial challenge may be limited or barred where the interested party has not sought and exhausted all available administrative remedies.

Council Policy Manual Chapter 4.07 DECORUM
§ 4.07.010 Policy.
1) COUNCILMEMBERS

Page 16 ends

March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final
The City Council will practice civility and decorum in their discussions and debate. Councilmembers will value each other's time and will preserve order and decorum. A member shall neither, by conversation or otherwise, delay or interrupt the proceedings of the Council, use personal, impertinent or slanderous remarks, nor disturb any other member while that member is speaking or refuse to obey the orders of the presiding officer or the Council, except as otherwise provided herein.

A) All Councilmembers have the opportunity to speak and agree to disagree but no Councilmember shall speak twice on any given subject unless all other Councilmembers have been given the opportunity to speak.

B) The Mayor has the affirmative duty to maintain order. The City Council will honor the role of the Mayor in maintaining order. If a Councilmember believes the Mayor is not maintaining order, the Councilmember may move that the Vice-Mayor enforce the rules of decorum and otherwise maintain order. If that motion receives a second and is approved by a Council majority, the Vice-Mayor shall enforce the rules of decorum and maintain order.

C) Any Councilmember who violates the rules repeatedly shall be sanctioned by the City Council, including, but not limited to, barring the Councilmember from further participation (other than voting) on the subject. 2) PERSONS ADDRESSING THE CITY COUNCIL
Persons addressing the Council shall not make personal, impertinent, unduly repetitive, slanderous or profane remarks to the Council, any member of the Council, City staff or the general public, nor utter loud, threatening, personal or abusive language, nor engage in any other conduct that disrupts, disturbs or otherwise unreasonably impedes the orderly conduct of the Council meeting. Any person who makes such remarks, who utters loud, threatening, personal or abusive language, who is unduly repetitious or engages in extended discussion of irrelevancies, or who engages in any disorderly conduct that disrupts, disturbs or otherwise unreasonably impedes the orderly conduct of any Council meeting shall, at the discretion of the presiding officer or a majority of the Council, be barred from further audience before the Council during that meeting. 3) ENFORCEMENT
The rules of decorum set forth above shall be enforced in the following manner:

Warning. The presiding officer shall request that a person who is breaching the rules of decorum be orderly and silent. If, after receiving a warning from the presiding officer, a person persists in disturbing the meeting, the presiding officer shall order him or her to leave the Council meeting. If such person does not remove himself or herself, the presiding officer may order any law enforcement officer who is on duty at the meeting to remove that person from the Council Chambers.
4) RULES PERTAINING TO SIGNS, OBJECTS, SYMBOLIC MATERIALS, AND FIRE SAFETY WITHIN THE

COUNCIL CHAMBERS DURING COUNCIL MEETINGS
A) Objects and symbolic materials such as signs which do not have sticks attached or otherwise create any fire or safety hazards will be allowed within the Council Chamber during Council meetings provided that they are not so large as to infringe upon the space of those in adjacent areas, and are no wider on their longest side than the audience chairs.

B) Persons with objects and symbolic materials such as signs must remain seated when displaying them except when making an oral presentation to the Council and must not raise them above shoulder level or otherwise use them to obstruct vision or passage or disturb the conduct of the Council meeting. Such materials may not be placed on or against the walls, doors or furniture or in the aisles.

C) Exits shall not be obstructed in any manner. Obstructions, including storage, shall not be placed in aisles or other exit ways. Hand carried items must be stored so that such items do not inhibit passage in aisles or other exit ways.

D) Exit ways shall not be used in any way that will present a hazardous condition.

E) Overcrowding and admittance of persons beyond the approved capacity of a place of assembly are prohibited.

F) The Fire Marshal may establish designated areas for media equipment. 5) PERSONS AUTHORIZED WITHIN RAIL
No person except City officials and City staff shall be permitted within the rail in front of the City Council dais without the express consent of the presiding officer.

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March 31, 2026City Council and Concurrent
Authorities
Meeting Agenda - Final

Page 18 ends

City of Stockton
Legislation Text
File #: 26-0385, Version: 1
PRESENTATION: INTRODUCTION OF CITY OF STOCKTON’S MASCOT OLLIE City of Stockton Printed on 3/26/2026Page 1 of 1
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City of Stockton
Legislation Text
File #: 26-0266, Version: 1
APPROVAL OF REFUND TO BIG VALLEY FORD LINCOLN, MERCURY, INC.

RECOMMENDATION
It is recommended that the City Council adopt a resolution:

1. Authorizing a refund in the amount of $68,972.17 for the Business License Tax paid by Big Valley Ford Lincoln, Mercury, Inc.; and

2. Authorizing the City Manager to take appropriate and necessary actions to carry out the purpose and intent of the resolution.

Summary
In April of 2025, Big Valley Ford Lincoln, Mercury, Inc. renewed their Business License for an auto dealership in full for the 2025 license year. In August 2025, the business owner notified the city that the business had been sold and operations under their ownership had ceased. The customer requested that the City prorate the business license tax for the portion of the year during which the business was actively operating and refund any credit generated by the proration.

DISCUSSION
Background
In April 2025, Big Valley Ford Lincoln, Mercury, Inc., remitted payment for the annual Business License Tax for the 2025 license period in the amount of $118,334.58. In October 2025, the business owner formally notified the City that the business had been sold and that operations under their ownership ceased on August 3, 2025 (Attachment A).

The Revenue Department reviewed the account and confirmed:
· The business license had been paid in full for 2025.
· Operations ceased on August 3, 2025.
· The new owners, Big Valley Ford LLC, completed a separate business license and paid in full pursuant to City requirements.

In addition, the customer maintained two separate business licenses with the City of Stockton. One license was for wholesale operations and one for automobile sales; both licenses were active and paid in full for the 2025 license year. The refund calculation includes amounts associated with both license accounts.

City of Stockton Printed on 3/26/2026Page 1 of 2
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File #: 26-0266, Version: 1
Pursuant to Stockton Municipal Code Section 5.04.080, when a business discontinues operations, the city may prorate the business license tax for the portion of the year the business was actively operating. By prorating the license, the customer received a credit and pursuant to Stockton Municipal Code Section 5.04.140 authorizes the refunds for license fee, penalties and cost collected or received by the city.

FINANCIAL SUMMARY
The Business license fee was deposited in account number 0000-012-415010-100-000-00-00-000- 000. The refund will be made from this account.

Attachment A - Big Valley Ford Lincoln, Mercury, Inc. Refund Request City of Stockton Printed on 3/26/2026Page 2 of 2
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ATTACHMENT A

ATTACHMENT A
Resolution No.

STOCKTON CITY COUNCIL

RESOLUTION APPROVING A REFUND TO BIG VALLEY FORD LINCOLN , MERCURY, INC., IN THE AMOUNT OF $68,972.17 FOR PRORATED BUSINESS

LICENSE FEE

In April 2025, Big Valley Ford Lincoln , Mercury, Inc., remitted payment for the annual Business License Tax for the 2025 license period in the amount of $118,334.58 ; and

In October 2025, the business owner formally notified the City that the busine ss had been sold and operations under their ownership ceased effective August 3, 2025 ; and

The business owner is requesting the City to prorate the Business License Tax for the portion of the year the business was actively operating and refund any credit that proration would generate; and

The City reviewed the account and confirmed that the business license had been paid in full for 2025 , operations ceased on August 3, 2025 , and t he new owners , Big Valley Ford LLC, completed a separate business license and paid in full pursuant to City requirements; and

The prorated refund from the period of August 3, 2025, through June 30, 2026, is determined to equal $68,972.17; now, therefore,

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STOCKTON, AS FOLLOWS:

1. Pursuant to Stockton Municipal Code section 5.04.080 and 5.04.140, the City of Stockton approves a refund in the amount of $68,972.17 to Big Valley Ford Lincoln, Mercury, Inc.

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2. The City Manager is hereby authorized to take whatever actions are necessary and appropriate to carry out the purpose and intent of this Resolution.

PASSED, APPROVED, and ADOPTED March 31, 2026 .

CHRISTINA FUGAZI
Mayor of the City of Stockton
ATTEST:

KATHERINE ROLAND, CMC, CPMC
City Clerk of the City of Stockton
City of Stockton
Legislation Text
File #: 26-0274, Version: 1

ACCEPTANCE OF THE QUARTERLY INVESTMENT REPORT FOR QUARTER ENDED DECEMBER 31, 2025

RECOMMENDATION
It is recommended that the City Council, by motion, accept the Quarterly Investment Report for the quarter ending on December 31, 2025
Summary
Pursuant to California Government Code section 53646 and the City’s Investment Policy No.

17.01.030 (Attachment D), the City Treasurer (Chief Financial Officer) is required to provide a quarterly report and certification to the City Council, City Manager, and City Auditor.

Due to the specialized services and expertise required to assist the City with the varied investment options available, effective July 1, 2022, the City moved to have two portfolio managers manage separate portions of the City’s Reserve portfolio. The Quarterly Investment Reports for PFM Asset Management (PFMAM) (Attachment A), Chandler Asset Management (Attachment B), and the Certification for the quarter ending December 31, 2025 (Attachment C), are being provided as required.

The City’s consolidated investment portfolio was approximately $984.8 million as of December 31, 2025, which represents an approximate increase of $30 million from the prior market value for the quarter ending on September 30,2025. This consolidated investment portfolio includes the City’s liquidity position, short-term investments, and the reserve portfolios. (Attachment A- PFMAM Investment Report, page 17).

Total Program Breakdown:
· Reserve Portfolio - $835,266,540
· Short Term Portfolio - $1,807,248
· BMO Main Account - $94,592,738
· California Asset Management Program (CAMP) - $52,219,682 · Local Agency Investment Fund (LAIF) - $887,486

DISCUSSION
Background
To comply with state law and City policy, the City is required to present quarterly certification and investment reports detailing the City’s investment portfolio to the City Council, City Manager, and City City of Stockton Printed on 3/26/2026Page 1 of 2
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File #: 26-0274, Version: 1
Auditor. The City also posts monthly transaction reports to the City’s website. The Quarterly Investment Report shall include a complete description of the portfolio, the types of investments, the issuers, maturity dates, par value, and dollar amounts invested in all securities, investments, or programs that are under the management of contracted parties, including lending programs. The certification must provide assurances that investments were made consistent with the City’s Investment Policy and that the City will meet its obligations for the next six months.

The authority of the Council to invest, reinvest funds, sell, or exchange securities is delegated to the City’s Chief Financial Officer, who also serves as City Treasurer (Resolution No. 2024-06-18-1603).

Pursuant to the Investment Policy, the City Treasurer may and does delegate fiduciary responsibility to external investment managers. An investment manager’s fiduciary responsibility is a legal requirement related to registration with the Securities and Exchange Commission under the Investment Advisor Act of 1940.

Present Situation
The City divides its investment portfolio into Reserve and Liquid portions. The Reserve portion represents the long-term assets managed by PFMAM and Chandler Asset Management, and the Liquid portion represents funds invested in several short-term investment vehicles including State of California LAIF, CAMP, and Dreyfus Treasury Money Market, to maintain adequate liquidity and optimize returns.

City staff work closely with both PFMAM and Chandler Asset Management to monitor the status of the City’s investment portfolios and their returns. The total returns on the consolidated portfolio for the first quarter of 2025 were positive, driven by lower yields and strong performance across U.S.

Treasury indexes, which more than offset any short-term market uncertainty. Details on these returns are reflected in Attachment A, page 25 (PFMAM Investment Report) and on Attachment B, page 25 (Chandler Investment Report). The quarterly return valuation includes funds from all activities, restricted and unrestricted, and includes changes in fair market value (unrealized gains/losses).

The City’s investment portfolio complies with California Government Code section 53601. It is invested solely in fixed-income securities (no stock holdings) that, while earning certain rates of interest, gain in market value when interest rates fall and lose market value when interest rates rise.

FINANCIAL SUMMARY
There is no financial impact related to the presentation and acceptance of these reports.

Attachment A - PFMAM Investment Report
Attachment B - Chandler Investment Report
Attachment C - Certification of Quarterly Investment Report Attachment D - Investment Policy
City of Stockton Printed on 3/26/2026Page 2 of 2
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Investment Performance Review
For the Quarter Ended December 31, 2025
Client Management Team
PFM Asset Management
A division of U.S. Bancorp Asset Management, Inc
Monique Spyke, Managing Director
Allison Kaune, Relationship Manager
Joseph Creason, Portfolio Manager
Rachael Miller, Client Consultant
213 Market Street
Harrisburg, PA 17101-2141
717-232-2723
1 California Street Ste. 1000
San Francisco, CA 94111-5411
415-393-7270
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public

CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
• Market Update
Acc
ount Summary•
Portfolio Review•

ATTACHMENT A
PFM Asset Management | pfmam.com
Market Update

ATTACHMENT A
Current Market Themes
Source: Details on market themes and economic indicators provided throughout the body of the presentation. Bloomberg Finance L.P., as of December 31, 2025. ▸ U.S. economy remains resilient but government shutdown obscures data ▹ Inflation print likely biased lower due to data collection gaps and technical adjustments ▹ Unem
ployment rate trends higher with net new job creation near zero ▹ Strong consumer and business spending, along with steadier trade dynamics, support growth ▸ The Fed lowered the target rate by 50 basis points in the fourth quarter to 3.50-3.75% ▹ Fed Chair Powell acknowledged ongoing challenges in achieving the Fed’s dual mandate of maxi
mum employment and price stability
▹ The Fed’s December “dot plot” indicates 25 bps of cuts in both 2026 and 2027, but the wide dispersion in underlying projections highlights differing views on path forward ▹ Markets view policy is skewed towards additional easing assuming a more dovish Chair takes office in mid-2026
▸ Treasury yield curve continues to steepen but remains inverted inside 2 years ▹ Front end Treasury yields moved lower during the fourth quarter on Fed rate cut expectations ▹ Yiel
ds were range bound as volatility waned into year end
▹ Credit spreads widened marginally but remain near historically narrow levels

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
1 ATTACHMENT A

2.7%

2.6%

2.0%

2.5%

3.0%

3.5%

4.0%
May-24 Nov-24 May-25 Nov-25
Consumer Price Index
Year-over-year Change
CPI Core CPI
Gaps in data collection
led to a drop in headline
and core inflation
Source: FOMC Chair Jerome Powell Press Conference, December 10, 2025. Bureau of Labor Statistics and Bloomberg Finance L.P. as of November 2025.

Fed Chair Powell: "The data may be distorted ... because [it] was not collected in October and half of November." Price Increases For Key Goods
Energy
Apparel
Food at Home
Transportati
on
Home
Furnishings
3-Month Annualized Inflation Rates (Sep-25)
2024
3-Month
Average 2024
+4.1% -0.9%
+5.3% +1.2%
+3.1% -1.2%
+3.2% +1.8%
+4.6% -0.5%
Data Distortions Bias Inflation Lower

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
2 ATTACHMENT A
Source: FOMC Chair Jerome Powell Press Conference, December 10, 2025. Bureau of Labor Statistics and Bloomberg Finance L.P. as of December 2025. -300
-200
-100
0 100
200
300
400
Dec-24 Jun-25 Dec-25
Thousands
Monthly Change In Nonfarm Payrolls
Private Ex Health Care & Edu Health Care & Edu Govt
-22K Avg
-173K
56K
Deferred
government
resignations
Private education and health
services remain the primary
driver of payroll gains
50K

4.4%
3%
4%
5%
Dec-22 Dec-23 Dec-24 Dec-25
Unemployment Rate
Fed Chair Powell: “[S]upply of workers has also gone way down, so the unemployment rate hasn’t moved that much. It is a labor market that seems to have significant downside risks…” Labor Market Continues to Cool

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
3 ATTACHMENT A
Fed Chair Powell: "[T]he top third [of earners] accounts for way more than a third of the consumption ... So it’s a good question how sustainable that is."

3.3%

1.9%
-0.6%

3.8%

4.3%
-6%
-4%
-2%
0%
2 %
4%
6%
8%
2024Q3 2024Q4 2025Q1 2025Q2 2025Q3
U.S. Real GDP Contributors and
Detractors
Personal Consumption Fixed Investment
Private Inventories Net Exports
Gov't Expenditures
2%
4%
6%
8%
2020 2021 2022 2023 2024 2025
Wage Growth by Income Quartiles
Atlanta Fed Wage Growth Tracker
Lowest quartile Highest quartile
K-Shaped Economy
Source: FOMC Chair Jerome Powell Press Conference, December 10, 2025. Bloomberg Finance L.P. and Bureau of Economic Analysis, as of September 2025 (left). Federal Reserve Bank of Atlanta, as of September 2025 (right).

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
4 ATTACHMENT A
Source: Bloomberg Finance L.P., Bureau of Labor Statistics as of December 2025, Federal Reserve Bank of New York as of September 2025, and Bureau of Economic Analysis as of September 2025.
▸ Net new job creation nears zero
▸ Increasing retail credit card
balances
▸ Rising student loan
delinquencies
▸ Planned federal spending cuts
▸ Services disinflation
▸ Slower tariff-based inflation
passthrough
▸ Stabilizing credit card
delinquencies
▸ Easing Fed Policy
▸ Fiscal tailwinds from tax and
reconciliation bill
▸ Resilient consumer spending
▸ Positive real disposable
personal income growth
▸ Corporate fundamentals
0%
1%
2%
3%
4%
5%
2Q '24
3Q '24
4Q '24
1Q '25
2Q '25
3Q '25
Personal Consumption
Quarter-Over-Quarter Change
0%
2%
4%
6%
8%
10%
12%
2003
2005
2007
2009
2011
2013
2015
2017
2019
2021
2023
2025
Credit Card Delinquencies
90+ Days
PositiveNeutralNegative
-100K
0K
100K
200K
300K
400K
500K
600K
700K
1Q '24
2Q '24
3Q '24
4Q '24
1Q '25
2Q '25
3Q '25
4Q '25
Nonfarm Payrolls
Cumulative Quarterly
Factors Shaping the Economic Outlook

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
5 ATTACHMENT A
Source: FOMC Chair Jerome Powell Press Conference, December 10, 2025. Federal Reserve, latest median economic projections, as of December 2025.

Fed Chair Powell: "[T]he baseline [expectation] would be solid growth next year" ... "[We] feel like we have made progress this year in nontariff-related inflation."

1.7%

2.3%

2.0% 1.9% 1.8%
0%
1%
2%
3%
2025 2026 2027 2028 Longer
Run
Change in Real GDP
Sep Projections Dec Projections

2.9%

2.4%

2.1% 2.0% 2.0%
0%
1%
2%
3%
4%
2025 2026 2027 2028 Longer
Run
PCE Inflation
Sep Projections Dec Projections

4.5% 4.4% 4.2% 4.2% 4.2%
0%
1%
2%
3%
4%
5%
6%
2025 2026 2027 2028 Longer
Run
Unemployment Rate
Sep Projections Dec Projections

3.6% 3.4% 3.1% 3.1% 3.0%
0%
1%
2%
3%
4%
5%
2025 2026 2027 2028 Longer
Run
Federal Funds Rate
Sep Projections Dec Projections
Fed’s Updated Summary of Economic Projections

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
6 ATTACHMENT A
0%
1%
2%
3%
4%
5%
Fed Participants’ Assessments of ‘Appropriate’ Monetary Policy Dec-25 FOMC Projections
Sep-25 Median
Dec-25 Median
Fed Chair Powell: “[I]t is very unusual to have persistent tension between the two parts of the mandate… But it is not like the normal situation where everyone agrees on the direction and what to do. It is more spread out.” 2025 20272026 2028
The December Fed “Dot Plot”
Longer Term

3.0%1
cut 1 cut 0 cuts
Source: FOMC Chair Jerome Powell Press Conference, December 10, 2025. Federal Reserve; Bloomberg Finance L.P.. Individual dots represent each Fed members’ judgement of the midpoint of the appropriate target range for the federal funds rate at each year-end. As of December 2025.

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
7 ATTACHMENT A
Source: Bloomberg Finance L.P., as of December 31, 2025.

3.25%

3.50%

3.75%
Sep-25 Oct-25 Nov-25 Dec-25
2-Year U.S. Treasury Yield
Septe
mber 30, 2025 – December 31, 2025
Nov 20th
Nonfarm payrolls
mixed
Dec 5th
September CPI subdued
Consumer confidence rises
for the first time in 5 months
Dec 10th
Chair Powell notes
inflation excluding tariffs
nears Fed’s 2% target
Oct 10th
Government
shutdown enters
second week
Oct 29th
Hawkish comments from
Chair Powell at FOMC
press conference
Nov 19th
FOMC Minutes
highlight policy
uncertainty
Treasury Yields Range Bound As Volatility Wanes

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
8 ATTACHMENT A
Source: Bloomberg Finance L.P., as of December 31, 2025.

3.63%

3.47%

3.73%

3.94%

4.17%

4.84%

3.00%

3.50%

4. 00%

4.50%

5.00%

5.50%
Yield
Maturity
U.S. Treasury Yield Curve
1 Year Range
December 31, 2025
September 30, 2025
3mo 2yr 5yr 7yr 10yr 20yr 3 0yr
Treasury Yield Curve Nears Dis-inversion

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
9 ATTACHMENT A
Source: ICE BofA 1-5 year Indices via Bloomberg Finance L.P. as of December 31, 2025. Spreads on ABS and MBS are option-adjusted spreads based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.

CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index. -20
0 20
40 60
80 100
120
140
Federal
Agency
Agency
CMBS
Agency MBS AAA Auto
ABS
AAA Credit
Card ABS
AAA
Corp
AA
Corp
A
Corp
BBB
Corp
Basis Points
1-5 Year Yield Spreads
2025 Range Dec-25 Spread
Sector Yield Spreads

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
10 ATTACHMENT A
Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. Agency CMBS represented by ICE BofA CMBY Index. As of December 31, 2025.

0.08%
-0.05%

0.07%

0.63%

0.02%

0.26%

0.05%

0.87%
-0.25%

0.00%

0. 25%

0.50%

0.75%

1.00%
4Q25 1-Year
Excess Returns
1-5 Y
ear Indices
Federal Agency Agency CMBS ABS Corp A-AAA
Fixed-Income Index Excess Returns

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
11 ATTACHMENT A
Source: ICE BofA Indices. ABS Indices are 0-5 year, based on weighted average life. As of December 31, 2025.

1.12% 1.08% 1.14% 1.19% 1.26%
0%
2%
4%
6%
8%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
Fourth Quarter 2025 Returns

5.74%

5.37% 5.33%

6.31%

7.05%
0%
2%
4%
6%
8%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-Year Return
1-5 Year Indices
Fixed
-Income Index Total Returns in 4Q 2025

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
12 ATTACHMENT A
Fixed-Income Sector Commentary – 4Q 2025
▸ The Federal Open Market Committee (FOMC)
low
ered the target range for the federal funds rate by
50 bps in Q4 but noted continuing challenges to
achieving its dual mandate of maximum employment
and stable prices.
▸ The U.S. Treasury yield curve steepened in response
to the Fed as yields on the short end fell more than
intermediate (2- to 5-year) maturities. Returns across
1-3, 1-5, and 1-10 Treasury benchmarks were similar
over the quarter. Yields on longer-maturity securities
increased, hurting performance for longer indices
lower.
▸ Federal Agency & supranational issuance
remained limited, keeping spreads narrow and
excess returns muted. The ongoing privatization
efforts of Fannie Mae and Freddie Mac remain a
focus, though no substantial progress has been
shared publicly
▸ Investment-Grade (IG) corporate bonds generated
modest excess returns as spreads were relatively
stable over the quarter. Lower-quality led
performance, supported by strong investor demand.

Positive carry remained the primary driver of returns.
▸ Spreads on Asset-Backed Securities widened
marginally, keeping excess returns modest. Auto loan
collateral marginally outperformed credit receivables.
▸ Agency-backed mortgage-backed securities
(MBS) generated solid excess returns in Q4 and were
a consistent top performer during the second half of
the year. Longer-duration mortgages (30-year)
outperformed shorter-duration (15-year) collateral.

Lower bond volatility over the past few months
continues to serve as a tailwind to the sector.

Agency-backed commercial MBS (CMBS) also
generated positive excess returns for the quarter but
continue to lag residential MBS.
▸ Short-term credit (commercial paper and negotiable
bank CDs) yield spreads remained attractive over the
quarter. Month-end funding pressures pushed repo
rates above the upper bound of the federal funds
rate, which created opportunities to add overnight
repo and floating rate securities tied to SOFR.

The views expressed within this material constitute the perspective and judgment of PFM Asset Management at the time of distribution (12/31/2025) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management cannot guarantee its accuracy, completeness, or suitability.

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
13 ATTACHMENT A
The views expressed within this material constitute the perspective and judgment of PFM Asset Management at the time of distribution (12/31/2025) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management cannot guarantee its accuracy, completeness, or suitability..

Fixed-Income Sector Outlook – 1Q 2026
▸ U.S. Treasury yield s remain reasonably attractive
and near fair value. For shorter duration strategies,
we prefer a modestly longer duration stance as we
expect Fed policy to have a more direct impact on
front-end yields. For longer duration strategies, we
will maintain a curve steepening bias by modestly
underweighting the long end of the curve.
▸ Federal Agency & Supranational spreads are likely
to remain at tight levels. Government-only accounts
may find occasional value on an issue-by-issue basis.
▸ Taxable Municipals continue to present limited
opportunity due to an ongoing lack of supply and
strong demand which is keeping yields low. We do
not expect this to change in the near term.
▸ Investment-Grade (IG) Corporate bond
fundamentals remain stable with technicals
supportive of the sector. All-in yields remain
reasonably attractive, though stretched valuations
continue to argue for discipline and caution. We will
continue to look for opportunities across new issue
and secondary markets.
▸ Asset-Backed Securities fundamentals remain
within expectations while credit enhancements
remain robust. We expect supply to be well-digested,
limiting new issue attractiveness. Household balance
sheets for prime borrowers remain healthy, though
further cooling in the labor market remains a risk. We
expect spreads to remain stable with carry the driver
of excess returns into 2026.
▸ Mortgage-Backed Securities is expected to
increase modestly in 2026 and could present
opportunity should spreads widen from current
narrow levels. We may look to add to the sector on
any increases in volatility.
▸ Short-term credit (commercial paper and negotiable
bank CDs) spreads in Q1 are expected to be primarily
driven by the FOMC's monetary policy decisions. We
have a bias for longer weighted average maturities
due to the flatness of the yield curve. Longer-maturity fixed rate securities are also an opportunity entering
2026 given positive carry and the potential for further Fed rate cuts.

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
14 ATTACHMENT A
Sector Our Investment Preferences

C O M M E R C I A L P A P E R
/ C D
T R E

A S U R I E S
T-Bill
T-Note
F

E D E R A L A G E N C I E S
Bullets
Callab
les

S U P R A N A T I O N A L S

C O R P OR

A T E S
Financials
Indust
rials

S E C U R I T I Z E D
Asset-Backed
Agency
Mortgage-Backed
Agency CMBS

M U N I C I P A L S
Negative Slightly
Negative Neutral Slightly
Positive PositiveCurrent outlook Outlook one quarter ago Fixed-Income Sector Commentary – 1Q 2026

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
15 ATTACHMENT A
PFM Asset Management | pfmam.com
Account Summary

ATTACHMENT A
PFM Asset Management | pfmam.com

1. Reserve Portfolio includes both the PFMAM Reserve portfolio assets and Chandler Asset Management assets. Short-Term Portfolio comprises assets managed by Chandler Asset Management.

Portfolio figures include cash in portfolios’ sweep accounts and includes accrued interest.

15.4%

3.0%

0.6% 2.0% 2.3%

7.6%

16.7%

21.1% 19.0%

8.1%

4.0%

0.0%
$0
$100
$200
$300
30 Days
and Under
31 to 60
days
61 to 90
days
91 to 180
days
181 to 1
year
1 to 2
years
2 to 3
years
3 to 4
years
4 to 5
years
5 to 7
years
7 to 10
years
Over 10
years
Millions
Maturity Distribution
Weighted Average Maturity: 1,076 days
For the Quarter Ended December 31, 2025
Account Summary
17 ATTACHMENT A
PFM Asset Management | pfmam.com
Portfolio Review:

CITY OF STOCKTON RESERVE PORTFOLIO

ATTACHMENT A
PFM Asset Management | pfmam.com

CITY OF STOCKTON
For the Quarter Ended December 31, 2025
Compliance
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Financial LP Asset and Investment Management ("AIM").

Certificate of Compliance
During the reporting period for the quarter ended December 31, 2025, the account(s) managed by PFM Asset Management ("PF
MAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.

Acknowledged :PFM Asset Management, a division of U.S. Bancorp Asset Management, Inc. 19 ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Portfolio Snapshot

1. Portfolio Snapshot - CITY OF STOCKTON RESERVE PORTFOLIO¹ Credit Quality - S&P
9%
18%
26%
16% 1 6%
7%
4 % 4%4%
27%
22%
18%
12%
9 %
4% 4%
0%
5%
10%
15%
20%
25%
30%
0-1 Yr 1-2
Yrs
2-3
Yrs
3-4
Yrs
4-5
Yrs
5-6
Yrs
6-7
Yrs
> 7
Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 44%
Corporate | 24%
Agency CMBS | 19%
ABS | 12%
Negotiable CD | 1%
Federal Agency | <1%
Municipal | <1%
Sector Allocation
AAA | 10%
AA+ | 65%
AA | 3%
AA- | 6%
A+ | 8%
A | 4%
A- | 1%
A-1 | 1%
Not Rated | 2%
Portfolio Statistics
Portfolio Effective Duration 3.16 years
Benchmark Effective Duration 3.19 years
Portfolio Credit Quality AA
Yield At Market 3.80%
Yield At Cost 4.30%
Total Market Value $488,715,817.10
$484,888,464.53Securities Sub-Total
$374,535.67Cash
$3,452,816.90Accrued Interest
Yield and duration calculations exclude cash and cash equivalents. Sector allocation includes market values and accrued interest.

The portfolio’s benchmark is Ccurrently 80% ICE BofA 1-5 Year AAA-A US Corporate & Government Index and 20% ICE BofA 5-10 Year US Treasury Index. Prior to 3/31/23 it was the ICE BofA 1-5 Year AAA-A US Corporate & Government Index. Source: Bloomberg Financial LP.

An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio. 20 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Portfolio Characteristics
$0.0
$98.0
$196.0
$294.0
$392.0
$490.0
Millions
December 2025
$0.0
$98.0
$196.0
$294.0
$392.0
$490.0
Millions
September 2025
$0.0
$98.0
$196.0
$294.0
$392.0
$490.0
Millions
June 2025
$0.0
$98.0
$196.0
$294.0
$392.0
$490.0
Millions
March 2025
Sector Allocation Review - CITY OF STOCKTON RESERVE PORTFOLIO U.S. Treasury Federal Agency Agency CMBS Municipal Negotiable CD Corporate ABS Market values, excluding accrued interest. Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. Detail may not add to total due to rounding.

Mar-25 % of TotalSecurity Type Jun-25 % of Total Sep-25 % of Total % of TotalDec-25 U.S. Treasury $251.9 54.0% $237.7 50.2% $228.9 47.6% $212.7 43.8% Federal Agency $11.0 2.4% $3.1 0.7% $0.8 0.2% $0.8 0.2% Agency CMBS $91.7 19.7% $94.5 20.0% $93.9 19.6% $93.5 19.3% Municipal $3.2 0.7% $1.9 0.4% $0.0 0.0% $0.0 0.0%
Negotiable CD $4.3 0.9% $4.3 0.9% $4.2 0.9% $4.2 0.9%
Corporate $67.8 14.6% $95.9 20.3% $101.6 21.2% $115.8 23.9% ABS $36.1 7.7% $35.5 7.5% $50.5 10.5% $57.9 11.9%
Total $465.8 100.0% $472.9 100.0% $480.0 100.0% $484.9 100.0% 21 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Portfolio Activity
Portfolio Activity - CITY OF STOCKTON RESERVE PORTFOLIO Net Activity by Sector
($ mi
llions)
U.S. Treasury
Agency CMBS
ABS
Corporate
U.S. Treasury
Agenc
y CMBS
ABS
Corporate
($30.0) ($20.0) ($10.0) $0.0 $10.0 $20.0
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.

Sector Net Activity
Corporate $14,072,741
ABS $7,413,083
Agency CMBS ($573,530)
U.S. Treasury ($16,869,367)
$4,042,926Total Net Activity
Sales/Maturities Purchases
22 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Portfolio Performance
The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is June 30, 2017.1.

2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.

3. Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.

4. The portfolio’s benchmark is Ccurrently 80% ICE BofA 1-5 Year AAA-A US Corporate & Government Index and 20% ICE BofA 5-10 Year US Treasury Index. Prior to 3/31/23 it was the ICE BofA 1-5 Year AAA-A US Corporate & Government Index. Source: Bloomberg Financial LP.

0.0%

2.0%

4.0%

6.0%

8.0%
Return
Portfolio Benchmark
Portfolio Performance
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years Since Inception¹ Interest Earned² $4,785, 914 $17,446,498 $39,488,406 $53,093,947 $84,110,652 Change in Market Value $760,819 $11,960,093 $22,551,683 ($22,378,466) ($3,174,516) $5,546,733Total Dollar Return $29,406,591 $62,040,089 $30,715,481 $80,936,136 Total Return³
Portfolio 1.15% 6.40% 4.78% 1.63% 2.23%
Benchmark⁴ 1.10% 6.33% 4.52% 1.37% 2.04%
3 Months 1 Year 3 Years 5 Years Since Inception
23 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Portfolio Performance
The lesser of 10 years or since inception is shown. Performance inception date is June 30, 2017.1.

Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.2.

Realized gains / (losses) are shown on an amortized cost basis.3.

Accrual Basis Earnings - CITY OF STOCKTON RESERVE PORTFOLIO Accrual Basis Earnings
Interest Earned²
Reali
zed Gains / (Losses)³
Change in Amortized Cost
Total Earnings
3 Months
$4,785,914
($81,
475)
$362,552
$5,066,991
1 Year
$17,446,498
($1,4
16,809)
$1,938,314
$17,968,004
3 Years
$39,488,406
($6,3
68,280)
$6,040,978
$39,161,104
5 Year
$53,093,947
($19,
032,430)
$18,574,290
$52,635,807
Since Inception¹
$84,110,652
($14,
736,332)
$20,199,090
$89,573,410
24 CITY OF STOCKTON

ATTACHMENT A
Statements and opinions expressed about the next 6-12 months were developed based on our independent research with information obtained from Bloomberg Finance L.P. and FactSet. The views expressed within this material constitute the perspective and judgment of PFM Asset Management at the time of distribution (12/31/2025) and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFM Asset Management cannot guarantee its accuracy, completeness, or suitability.

Monetary Policy (Global):
• The Fed cut rates by 50 bps in Q4 but noted
continuing challenges to achieving its dual mandate
of maximum employment and stable prices.
• The “dot plot” indicates 25 bps of projected cuts in
both 2026 and 2027, but the wide dispersion
underscores growing differences of opinion.
• Markets view policy risks as skewed towards
additional easing assuming a more dovish Chair
takes office in mid-2026 as expected.
• Most major central banks have continued easing
with the BOJ being the notable exception.

Economic Growth (Global):
• Strong consumer and business spending and
steadier trade dynamics continue to fuel economic
growth.
• The effects of U.S. government shutdown are
expected to be temporary and fully recouped in
1Q26.
• Benefits from the tax and reconciliation bill and
increases in anticipated AI capex are expected to
support growth in 2026.

Inflation (U.S.):
• While headline inflation moved lower in Q4,
significant gaps in data collection due to the U.S.
government shutdown likely biased the data lower.
• Lower shelter inflation continues to support
disinflation going forward although goods prices
continue to experience tariff passthroughs.
• Fed Chair Powell noted inflation excluding tariffs is near 2%, suggesting the Fed is looking through
these effects.

Financial Conditions (U.S.):
• Financial conditions eased further as corporate
earnings exceeded expectations and tariff concerns
abated.
• Equities reached new all-time highs, credit spreads
remain tight, and volatility remains low.
• Fiscal uncertainty and geopolitical risks could
reintroduce tighter financial conditions over the next
6-12 months.

Consumer Spending (U.S.):
• Consumer confidence sank given a more
pessimistic views of the labor market, particularly
among lower-income cohorts.
• Consumer activity remained resilient through the
holiday shopping season, highlighting the
disconnect between sentiment and actual activity.
• Consumer spending is dominated by higher-income
cohorts who benefit from elevated wage growth,
strong equity markets, and home price appreciation.
• A significant correction in the equity market or a
material slowdown in the labor market are the
largest threats to consumer spending.

Labor Markets (U.S.):
• Labor market conditions continued to cool with net
new job creation close to zero with gains
concentrated in the healthcare sector.
• The breakeven employment level to keep pace with
labor force growth has fallen. Initial jobless claims
and layoff rates remains low, easing some concerns
over labor weakness.
• The unemployment rate continued to tick higher,
while job openings declined and the quits rate
remain subdued, signaling reduced worker
leverage.
• Wage growth continues to exceed inflation,
supporting consumer spending.

Stance Unfavorable
to Risk Assets
Stance Favorable
to Risk Assets Current outlook Outlook one quarter ago Negative Slightly Negative Neutral Slightly
Positive Positive
Factors to Consider for 6-12 Months
For
the Quarter Ended December 31, 2025
Market Update
PFM Asset Management | pfmam.com
25 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
Reserve Portfolio Holdings and Transactions

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Portfolio Holdings
Managed Account Detail of Securities Held
Security Type/Description
Date
d Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
U.S. Treasury

US TREASURY N/B
DTD 01/31/2019 2.625% 01/31/2026
9128286A3 7,500.00 AA+ Aa1 2/4/2021 2/4/2021 8,301.86 0.46 82.39 7,493.277,513.20

US TREASURY N/B
DTD 04/30/2020 0.500% 04/30/2027
912828ZN3 4,840,000.00 AA+ Aa1 8/2/2022 8/3/2022 4,331,989.06 2.88 4,144.75 4,653,771.324,697,956.50

US TREASURY N/B
DTD 06/30/2020 0.500% 06/30/2027
912828ZV5 4,215,000.00 AA+ Aa1 8/25/2022 8/26/2022 3,705,577.73 3.21 58.22 4,033,392.514,058,055.32

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2027
91282CEW7 4,300,000.00 AA+ Aa1 3/30/2023 3/31/2023 4,214,000.00 3.76 386.05 4,285,220.904,269,800.26

US TREASURY N/B
DTD 08/01/2022 2.750% 07/31/2027
91282CFB2 5,000,000.00 AA+ Aa1 5/12/2023 5/12/2023 4,857,226.56 3.48 57,540.76 4,943,555.004,946,633.68

US TREASURY N/B
DTD 08/15/2017 2.250% 08/15/2027
9128282R0 2,730,000.00 AA+ Aa1 9/1/2022 9/6/2022 2,588,274.61 3.40 23,201.29 2,676,893.312,683,570.01

US TREASURY N/B
DTD 08/31/2022 3.125% 08/31/2027
91282CFH9 5,030,000.00 AA+ Aa1 3/24/2023 3/24/2023 4,971,644.14 3.41 53,409.01 5,001,117.745,008,148.05

US TREASURY N/B
DTD 09/30/2020 0.375% 09/30/2027
91282CAL5 745,000.00 AA+ Aa1 10/28/2022 10/31/2022 620,474.41 4.17 713.79 706,149.74700,809.03

US TREASURY N/B
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 510,000.00 AA+ Aa1 12/1/2022 12/2/2022 518,646.09 3.74 3,603.11 515,657.94513,219.39

US TREASURY N/B
DTD 10/31/2022 4.125% 10/31/2027
91282CFU0 4,250,000.00 AA+ Aa1 3/30/2023 3/31/2023 4,320,224.61 3.73 30,025.90 4,297,149.504,278,005.99

US TREASURY N/B
DTD 01/03/2023 3.875% 12/31/2027
91282CGC9 2,380,000.00 AA+ Aa1 2/1/2023 2/2/2023 2,409,564.06 3.60 254.77 2,397,757.182,392,020.19

US TREASURY N/B
DTD 02/01/2021 0.750% 01/31/2028
91282CBJ9 2,565,000.00 AA+ Aa1 5/12/2023 5/12/2023 2,266,518.17 3.44 8,050.48 2,425,228.022,433,494.96

US TREASURY N/B
DTD 02/28/2023 4.000% 02/29/2028
91282CGP0 835,000.00 AA+ Aa1 3/24/2023 3/24/2023 859,625.98 3.35 11,348.62 843,709.05845,776.43

US TREASURY N/B
DTD 03/31/2021 1.250% 03/31/2028
91282CBS9 1,945,000.00 AA+ Aa1 5/9/2023 5/10/2023 1,747,384.96 3.53 6,211.71 1,851,169.311,854,320.46

US TREASURY N/B
DTD 03/31/2023 3.625% 03/31/2028
91282CGT2 880,000.00 AA+ Aa1 3/30/2023 3/31/2023 878,659.38 3.66 8,150.27 882,337.28879,398.30 27 CITY OF STOCKTON

US TREASURY N/B
DTD 05/01/2023 3.500% 04/30/2028
91282CHA2 215,000.00 AA+ Aa1 5/1/2023 5/1/2023 213,975.39 3.61 1,288.81 214,966.46214,523.05

US TREASURY N/B
DTD 09/30/2021 1.250% 09/30/2028
91282CCY5 525,000.00 AA+ Aa1 3/14/2022 3/15/2022 495,591.79 2.17 1,676.68 493,848.60512,663.56

US TREASURY N/B
DTD 11/16/1998 5.250% 11/15/2028
912810FF0 1,000,000.00 AA+ Aa1 11/30/2022 11/30/2022 1,064,765.63 4.02 6,816.30 1,046,406.001,031,207.69

US TREASURY N/B
DTD 05/31/2022 2.750% 05/31/2029
91282CES6 490,000.00 AA+ Aa1 1/11/2023 1/12/2023 464,523.83 3.67 1,184.62 476,869.47476,382.11

US TREASURY N/B
DTD 05/31/2024 4.500% 05/31/2029
91282CKT7 960,000.00 AA+ Aa1 6/6/2024 6/7/2024 968,700.00 4.30 3,797.80 987,600.00966,156.13

US TREASURY N/B
DTD 06/30/2022 3.250% 06/30/2029
91282CEV9 490,000.00 AA+ Aa1 7/7/2023 7/10/2023 464,026.17 4.26 43.99 484,411.06474,810.91

US TREASURY N/B
DTD 07/31/2024 4.000% 07/31/2029
91282CLC3 6,075,000.00 AA+ Aa1 8/1/2024 8/2/2024 6,117,240.23 3.85 101,690.22 6,153,549.756,106,099.86

US TREASURY N/B
DTD 08/16/1999 6.125% 08/15/2029
912810FJ2 1,775,000.00 AA+ Aa1 1/10/2023 1/11/2023 2,023,083.98 3.72 41,064.96 1,925,111.751,911,198.93

US TREASURY N/B
DTD 08/15/2019 1.625% 08/15/2029
912828YB0 520,000.00 AA+ Aa1 3/21/2022 3/22/2022 496,518.75 2.29 3,191.71 485,408.04508,515.64

US TREASURY N/B
DTD 08/31/2022 3.125% 08/31/2029
91282CFJ5 2,120,000.00 AA+ Aa1 2/27/2023 2/28/2023 2,000,998.44 4.12 22,510.36 2,084,225.002,052,986.50

US TREASURY N/B
DTD 10/31/2024 4.125% 10/31/2029
91282CLR0 950,000.00 AA+ Aa1 11/14/2024 11/15/2024 942,949.22 4.29 6,711.67 966,253.55944,431.56

US TREASURY N/B
DTD 10/31/2024 4.125% 10/31/2029
91282CLR0 1,700,000.00 AA+ Aa1 11/1/2024 11/4/2024 1,695,816.41 4.18 12,010.36 1,729,085.301,696,718.35

US TREASURY N/B
DTD 11/30/2022 3.875% 11/30/2029
91282CFY2 1,070,000.00 AA+ Aa1 11/30/2022 11/30/2022 1,069,289.45 3.89 3,645.05 1,078,944.131,069,602.90

US TREASURY N/B
DTD 12/31/2024 4.375% 12/31/2029
91282CMD0 4,135,000.00 AA+ Aa1 1/6/2025 1/7/2025 4,125,793.16 4.43 499.74 4,245,483.064,127,456.01

US TREASURY N/B
DTD 01/03/2023 3.875% 12/31/2029
91282CGB1 2,030,000.00 AA+ Aa1 1/10/2023 1/11/2023 2,059,339.84 3.64 217.30 2,047,208.312,046,824.89

US TREASURY N/B
DTD 01/31/2025 4.250% 01/31/2030
91282CMG3 470,000.00 AA+ Aa1 2/5/2025 2/6/2025 470,110.16 4.24 8,359.10 480,446.69470,092.44

US TREASURY N/B
DTD 02/18/2020 1.500% 02/15/2030
912828Z94 542,500.00 AA+ Aa1 4/6/2022 4/11/2022 498,040.43 2.66 3,073.68 498,294.93519,145.93 28 CITY OF STOCKTON

US TREASURY N/B
DTD 02/28/2023 4.000% 02/28/2030
91282CGQ8 1,875,000.00 AA+ Aa1 3/4/2025 3/5/2025 1,875,512.70 3.99 25,483.43 1,898,876.251,875,441.44

US TREASURY N/B
DTD 03/31/2025 4.000% 03/31/2030
91282CMU2 4,500,000.00 AA+ Aa1 4/1/2025 4/2/2025 4,522,500.00 3.89 45,989.01 4,557,303.004,519,401.16

US TREASURY N/B
DTD 03/31/2025 4.000% 03/31/2030
91282CMU2 2,830,000.00 AA+ Aa1 3/28/2025 3/31/2025 2,826,573.05 4.03 28,921.98 2,866,037.222,827,057.72

US TREASURY N/B
DTD 05/01/2023 3.500% 04/30/2030
91282CGZ8 3,880,000.00 AA+ Aa1 4/25/2024 4/26/2024 3,632,498.44 4.73 23,258.56 3,851,959.243,694,956.93

US TREASURY N/B
DTD 02/15/2000 6.250% 05/15/2030
912810FM5 2,160,000.00 AA+ Aa1 1/11/2023 1/12/2023 2,519,859.38 3.64 17,527.62 2,381,484.242,374,170.04

US TREASURY N/B
DTD 02/15/2000 6.250% 05/15/2030
912810FM5 925,000.00 AA+ Aa1 11/30/2022 11/30/2022 1,065,123.05 3.89 7,506.04 1,019,848.581,007,077.22

US TREASURY N/B
DTD 05/15/2020 0.625% 05/15/2030
912828ZQ6 2,535,000.00 AA+ Aa1 1/10/2023 1/11/2023 2,057,608.01 3.56 2,057.06 2,224,561.372,250,986.49

US TREASURY N/B
DTD 05/31/2023 3.750% 05/31/2030
91282CHF1 2,830,000.00 AA+ Aa1 7/12/2023 7/12/2023 2,783,459.77 4.03 9,329.67 2,836,964.632,800,188.35

US TREASURY N/B
DTD 05/31/2023 3.750% 05/31/2030
91282CHF1 9,900,000.00 AA+ Aa1 6/4/2025 6/5/2025 9,807,574.22 3.96 32,637.36 9,924,363.909,817,355.38

US TREASURY N/B
DTD 06/30/2025 3.875% 06/30/2030
91282CNK3 1,875,000.00 AA+ Aa1 7/1/2025 7/1/2025 1,880,639.65 3.81 200.71 1,889,135.631,880,124.46

US TREASURY N/B
DTD 07/31/2025 3.875% 07/31/2030
91282CNN7 850,000.00 AA+ Aa1 8/19/2025 8/20/2025 852,091.80 3.82 13,783.63 856,275.55851,951.23

US TREASURY N/B
DTD 08/17/2020 0.625% 08/15/2030
91282CAE1 2,540,000.00 AA+ Aa1 2/27/2023 2/28/2023 1,995,586.72 3.97 5,996.26 2,210,196.242,202,963.23

US TREASURY N/B
DTD 08/17/2020 0.625% 08/15/2030
91282CAE1 2,545,000.00 AA+ Aa1 1/10/2023 1/11/2023 2,052,204.49 3.56 6,008.07 2,214,547.022,245,199.77

US TREASURY N/B
DTD 08/17/2020 0.625% 08/15/2030
91282CAE1 587,500.00 AA+ Aa1 4/6/2022 4/11/2022 498,755.37 2.65 1,386.93 511,216.65538,381.83

US TREASURY N/B
DTD 09/02/2025 3.625% 08/31/2030
91282CNX5 10,050,000.00 AA+ Aa1 9/2/2025 9/3/2025 9,996,609.38 3.74 123,785.74 10,014,272.259,999,895.29

US TREASURY N/B
DTD 11/16/2020 0.875% 11/15/2030
91282CAV3 3,000,000.00 AA+ Aa1 7/11/2023 7/12/2023 2,405,390.63 4.02 3,408.15 2,622,540.002,605,736.09

US TREASURY N/B
DTD 11/16/2020 0.875% 11/15/2030
91282CAV3 1,330,000.00 AA+ Aa1 11/30/2022 11/30/2022 1,071,065.63 3.72 1,510.95 1,162,659.401,171,539.65 29 CITY OF STOCKTON

US TREASURY N/B
DTD 12/01/2025 3.500% 11/30/2030
91282CPN5 4,200,000.00 AA+ Aa1 12/3/2025 12/5/2025 4,176,046.88 3.63 12,923.08 4,157,672.404,176,386.56

US TREASURY N/B
DTD 12/31/2025 3.625% 12/31/2030
91282CPR6 2,500,000.00 AA+ Aa1 12/31/2025 12/31/2025 2,490,917.97 3.71 250.35 2,488,085.002,490,929.72

US TREASURY N/B
DTD 01/31/2024 4.000% 01/31/2031
91282CJX0 1,350,000.00 AA+ Aa1 1/30/2025 1/31/2025 1,323,210.94 4.38 22,597.83 1,365,556.051,326,881.63

US TREASURY N/B
DTD 02/15/2001 5.375% 02/15/2031
912810FP8 1,800,000.00 AA+ Aa1 1/10/2023 1/11/2023 2,021,273.44 3.61 36,544.16 1,935,210.601,940,007.64

US TREASURY N/B
DTD 02/16/2021 1.125% 02/15/2031
91282CBL4 565,000.00 AA+ Aa1 4/6/2022 4/11/2022 498,104.88 2.63 2,400.87 497,442.95526,274.51

US TREASURY N/B
DTD 02/15/2001 5.375% 02/15/2031
912810FP8 2,955,000.00 AA+ Aa1 7/7/2023 7/10/2023 3,201,326.95 4.09 59,993.33 3,176,970.743,120,962.45

US TREASURY N/B
DTD 02/15/2001 5.375% 02/15/2031
912810FP8 1,820,000.00 AA+ Aa1 2/27/2023 2/28/2023 1,991,620.31 3.98 36,950.20 1,956,712.941,930,382.12

US TREASURY N/B
DTD 04/01/2024 4.125% 03/31/2031
91282CKF7 3,820,000.00 AA+ Aa1 4/25/2024 4/26/2024 3,686,150.78 4.72 40,259.55 3,884,909.443,714,840.32

US TREASURY N/B
DTD 05/17/2021 1.625% 05/15/2031
91282CCB5 2,930,000.00 AA+ Aa1 1/11/2023 1/12/2023 2,530,673.05 3.53 6,181.73 2,624,981.142,672,961.96

US TREASURY N/B
DTD 05/17/2021 1.625% 05/15/2031
91282CCB5 1,265,000.00 AA+ Aa1 11/30/2022 11/30/2022 1,070,802.73 3.76 2,668.91 1,133,310.971,141,740.07

US TREASURY N/B
DTD 05/31/2024 4.625% 05/31/2031
91282CKU4 5,000,000.00 AA+ Aa1 6/4/2025 6/5/2025 5,147,656.25 4.06 20,329.67 5,204,295.005,134,985.70

US TREASURY N/B
DTD 07/31/2024 4.125% 07/31/2031
91282CLD1 730,000.00 AA+ Aa1 8/14/2024 8/15/2024 748,164.45 3.72 12,601.43 741,862.50744,927.86

US TREASURY N/B
DTD 08/16/2021 1.250% 08/15/2031
91282CCS8 2,465,000.00 AA+ Aa1 2/27/2023 2/28/2023 1,994,627.93 3.92 11,638.42 2,147,535.122,152,636.41

US TREASURY N/B
DTD 08/16/2021 1.250% 08/15/2031
91282CCS8 562,500.00 AA+ Aa1 4/6/2022 4/11/2022 498,515.62 2.63 2,655.83 490,056.19524,030.63

US TREASURY N/B
DTD 11/15/2021 1.375% 11/15/2031
91282CDJ7 2,080,000.00 AA+ Aa1 1/10/2023 1/11/2023 1,739,075.00 3.55 3,713.26 1,811,794.401,853,701.80

US TREASURY N/B
DTD 11/15/2021 1.375% 11/15/2031
91282CDJ7 1,305,000.00 AA+ Aa1 11/30/2022 11/30/2022 1,068,927.54 3.77 2,329.71 1,136,726.781,150,311.93

US TREASURY N/B
DTD 01/31/2025 4.375% 01/31/2032
91282CMK4 3,400,000.00 AA+ Aa1 2/4/2025 2/5/2025 3,386,984.38 4.44 62,248.64 3,494,564.203,388,460.53 30 CITY OF STOCKTON

US TREASURY N/B
DTD 02/15/2022 1.875% 02/15/2032
91282CDY4 2,365,000.00 AA+ Aa1 2/27/2023 2/28/2023 1,999,625.98 3.94 16,749.41 2,109,192.142,115,465.39

US TREASURY N/B
DTD 05/16/2022 2.875% 05/15/2032
91282CEP2 2,670,000.00 AA+ Aa1 1/11/2023 1/12/2023 2,525,548.83 3.56 9,966.40 2,517,518.972,571,497.09

US TREASURY N/B
DTD 05/16/2022 2.875% 05/15/2032
91282CEP2 1,150,000.00 AA+ Aa1 11/30/2022 11/30/2022 1,067,164.06 3.79 4,292.65 1,084,324.651,094,216.45

US TREASURY N/B
DTD 05/16/2022 2.875% 05/15/2032
91282CEP2 1,100,000.00 AA+ Aa1 7/2/2024 7/3/2024 988,410.16 4.41 4,106.01 1,037,180.101,006,802.28

US TREASURY N/B
DTD 05/16/2022 2.875% 05/15/2032
91282CEP2 660,000.00 AA+ Aa1 8/5/2022 8/9/2022 662,629.69 2.83 2,463.60 622,308.06661,714.79

US TREASURY N/B
DTD 05/16/2022 2.875% 05/15/2032
91282CEP2 2,175,000.00 AA+ Aa1 1/10/2023 1/11/2023 2,056,224.61 3.57 8,118.70 2,050,787.932,094,029.44

US TREASURY N/B
DTD 08/15/2022 2.750% 08/15/2032
91282CFF3 2,195,000.00 AA+ Aa1 2/27/2023 2/28/2023 1,991,190.82 3.93 22,799.97 2,046,064.862,052,404.34

US TREASURY N/B
DTD 09/02/2025 3.875% 08/31/2032
91282CNW7 2,500,000.00 AA+ Aa1 9/2/2025 9/3/2025 2,484,277.34 3.98 32,916.09 2,493,457.502,484,935.18

US TREASURY N/B
DTD 11/15/2022 4.125% 11/15/2032
91282CFV8 1,520,000.00 AA+ Aa1 5/14/2025 5/15/2025 1,500,346.88 4.33 8,140.61 1,537,396.401,501,770.92

US TREASURY N/B
DTD 11/15/2022 4.125% 11/15/2032
91282CFV8 3,225,000.00 AA+ Aa1 7/7/2023 7/10/2023 3,242,006.84 4.06 17,272.01 3,261,910.123,237,496.24

US TREASURY N/B
DTD 11/15/2022 4.125% 11/15/2032
91282CFV8 1,965,000.00 AA+ Aa1 1/10/2023 1/11/2023 2,054,269.34 3.57 10,523.88 1,987,489.422,027,309.80

US TREASURY N/B
DTD 11/15/2022 4.125% 11/15/2032
91282CFV8 1,055,000.00 AA+ Aa1 11/30/2022 11/30/2022 1,084,877.93 3.78 5,650.22 1,067,074.471,075,613.96

US TREASURY N/B
DTD 12/01/2025 3.750% 11/30/2032
91282CPM7 2,300,000.00 AA+ Aa1 12/3/2025 12/5/2025 2,289,847.66 3.82 7,582.42 2,273,407.402,289,955.54

US TREASURY N/B
DTD 02/15/2023 3.500% 02/15/2033
91282CGM7 2,065,000.00 AA+ Aa1 2/27/2023 2/28/2023 1,993,450.98 3.92 27,299.52 2,006,841.342,013,854.24

US TREASURY N/B
DTD 05/15/2023 3.375% 05/15/2033
91282CHC8 1,075,000.00 AA+ Aa1 7/2/2024 7/3/2024 992,191.41 4.43 4,710.55 1,033,469.531,004,014.02

US TREASURY N/B
DTD 08/15/2023 3.875% 08/15/2033
91282CHT1 2,385,000.00 AA+ Aa1 10/2/2023 10/2/2023 2,236,496.48 4.67 34,908.17 2,365,156.802,270,357.75

US TREASURY N/B
DTD 11/15/2023 4.500% 11/15/2033
91282CJJ1 4,340,000.00 AA+ Aa1 10/16/2024 10/17/2024 4,504,784.38 4.00 25,356.63 4,481,219.264,486,124.91 31 CITY OF STOCKTON

US TREASURY N/B
DTD 02/15/2024 4.000% 02/15/2034
91282CJZ5 3,880,000.00 AA+ Aa1 4/25/2024 4/26/2024 3,667,357.81 4.70 58,621.74 3,867,875.003,697,328.91

US TREASURY N/B
DTD 05/15/2024 4.375% 05/15/2034
91282CKQ3 1,000,000.00 AA+ Aa1 7/2/2024 7/3/2024 995,156.25 4.44 5,680.25 1,021,914.00995,767.01

US TREASURY N/B
DTD 08/15/2024 3.875% 08/15/2034
91282CLF6 8,450,000.00 AA+ Aa1 9/4/2024 9/5/2024 8,514,365.23 3.78 123,678.84 8,319,946.058,507,171.49

US TREASURY N/B
DTD 02/18/2025 4.625% 02/15/2035
91282CMM0 4,350,000.00 AA+ Aa1 4/1/2025 4/2/2025 4,521,621.09 4.13 75,992.02 4,515,334.804,510,868.10

US TREASURY N/B
DTD 08/15/2025 4.250% 08/15/2035
91282CNT4 2,500,000.00 AA+ Aa1 9/2/2025 9/3/2025 2,494,335.94 4.28 40,132.47 2,517,970.002,494,487.14

US TREASURY N/B
DTD 11/17/2025 4.000% 11/15/2035
91282CPJ4 2,300,000.00 AA+ Aa1 12/3/2025 12/5/2025 2,288,769.53 4.06 11,944.75 2,266,937.502,288,851.48 215,485,000.00 209,040,955.13 1,668,948.52 212,693,418.06Security Type Sub-Total 3.86 211,832,422.82 Negotiable CD

COOPERAT RABOBANK UA/NY
DTD 07/20/2023 5.080% 07/17/2026
21684LGS5 4,200,000.00 A-1 P-1 7/17/2023 7/20/2023 4,200,000.00 5.08 97,197.33 4,238,278.804,200,000.00 4,200,000.00 4,200,000.00 97,197.33 4,238,278.80Security Type Sub-Total 5.08 4,200,000.00 Municipal

NJ TPK AUTH -B-TXBL
DTD 02/04/2021 1.047% 01/01/2026
646140DP5 2,500.00 AA- A1 1/22/2021 2/4/2021 2,500.00 1.05 13.09 2,500.002,500.00 2,500.00 2,500.00 13.09 2,500.00Security Type Sub-Total 1.05 2,500.00 Federal Agency

FEDERAL HOME LOAN BANK
DTD 08/25/2022 3.375% 09/10/2032
3130AT4C8 875,000.00 AA+ Aa1 11/1/2022 11/3/2022 779,616.25 4.77 9,105.47 843,211.25810,218.65 875,000.00 779,616.25 9,105.47 843,211.25Security Type Sub-Total 4.77 810,218.65 32 CITY OF STOCKTON

PACCAR FINANCIAL CORP
DTD 08/10/2023 5.050% 08/10/2026
69371RS56 3,800,000.00 A+ A1 8/10/2023 8/14/2023 3,815,846.00 4.90 75,160.83 3,826,334.003,803,225.16

BANK OF AMERICA NA (CALLABLE)
DTD 08/18/2023 5.526% 08/18/2026
06428CAA2 1,885,000.00 A+ Aa2 8/14/2023 8/18/2023 1,885,000.00 5.53 38,483.22 1,902,113.921,885,000.00

JP MORGAN CHASE BANK NA
(CALLABLE)
DTD 12/08/2023 5.110% 12/08/2026
48125LRU8 3,150,000.00 AA- Aa2 12/5/2023 12/8/2023 3,150,000.00 5.11 10,283.88 3,183,979.053,150,000.00

TARGET CORP (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7 2,140,000.00 A A2 1/27/2022 1/31/2022 2,138,694.60 1.96 19,242.17 2,101,518.522,139,726.33

MICROSOFT CORP (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
594918BY9 2,325,000.00 AAA Aaa 1/27/2023 1/31/2023 2,259,644.25 4.07 30,903.13 2,316,002.252,307,134.59

GOLDMAN SACHS BANK USA
(CALLABLE)
DTD 05/21/2024 5.414% 05/21/2027
38151LAG5 1,450,000.00 A+ A1 5/21/2025 5/22/2025 1,459,120.50 5.08 8,722.56 1,457,599.451,453,598.79

GOLDMAN SACHS BANK USA
(CALLABLE)
DTD 05/21/2024 5.414% 05/21/2027
38151LAG5 2,150,000.00 A+ A1 5/21/2025 5/22/2025 2,163,523.50 5.08 12,933.44 2,161,268.152,155,336.13

TRUIST FINANCIAL CORP
(CALLABLE)
DTD 08/03/2020 1.125% 08/03/2027
89788MAC6 2,520,000.00 A- Baa1 8/5/2022 8/9/2022 2,213,719.20 3.83 11,655.00 2,413,653.482,422,345.25

HOME DEPOT INC (CALLABLE)
DTD 09/14/2017 2.800% 09/14/2027
437076BT8 3,450,000.00 A A2 1/25/2023 1/27/2023 3,255,385.50 4.15 28,711.67 3,395,486.553,378,435.10

JPMORGAN CHASE & CO
(CALLABLE)
DTD 02/24/2022 2.947% 02/24/2028
46647PCW4 1,605,000.00 A A1 9/14/2023 9/18/2023 1,467,563.85 5.13 16,686.16 1,585,425.421,538,434.75

KENVUE INC (CALLABLE)
DTD 10/17/2023 5.050% 03/22/2028
49177JAF9 2,500,000.00 A A2 6/27/2025 6/30/2025 2,559,025.00 4.12 34,718.75 2,554,120.002,548,284.05

JPMORGAN CHASE & CO
(CALLABLE)
DTD 04/25/2017 3.540% 05/01/2028
46647PAF3 1,725,000.00 A A1 8/8/2024 8/9/2024 1,672,059.75 4.44 9,838.25 1,715,274.451,690,833.93

HERSHEY COMPANY (CALLABLE)
DTD 05/04/2023 4.250% 05/04/2028
427866BH0 2,785,000.00 A A1 5/9/2023 5/11/2023 2,801,821.40 4.11 18,740.73 2,811,123.302,792,757.12

APPLE INC (CALLABLE)
DTD 05/10/2023 4.000% 05/10/2028
037833ET3 4,675,000.00 AA+ Aaa 5/9/2023 5/11/2023 4,673,083.25 4.01 26,491.67 4,710,530.004,674,095.43 33 CITY OF STOCKTON

APPLE INC (CALLABLE)
DTD 05/10/2023 4.000% 05/10/2028
037833ET3 1,370,000.00 AA+ Aaa 5/12/2023 5/16/2023 1,380,946.30 3.82 7,763.33 1,380,412.001,375,082.21

MORGAN STANLEY BANK NA
(CALLABLE)
DTD 05/30/2024 5.504% 05/26/2028
61690U8B9 1,430,000.00 A+ Aa3 5/28/2024 5/30/2024 1,430,000.00 5.50 7,652.09 1,458,529.931,430,000.00

MORGAN STANLEY BANK NA
(CALLABLE)
DTD 05/30/2024 5.504% 05/26/2028
61690U8B9 2,770,000.00 A+ Aa3 5/30/2024 5/31/2024 2,775,844.70 5.45 14,822.58 2,825,264.272,772,660.93

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 1,420,000.00 A A1 7/11/2023 7/14/2023 1,417,884.20 4.98 32,606.75 1,458,237.761,418,926.82

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 600,000.00 A A1 7/13/2023 7/14/2023 608,160.00 4.64 13,777.50 616,156.80604,138.93

JOHN DEERE CAPITAL CORP
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0 1,400,000.00 A A1 6/24/2025 6/25/2025 1,434,272.00 4.09 32,147.50 1,437,699.201,428,767.02

NATIONAL RURAL UTIL COOP
(CALLABLE)
DTD 08/25/2025 4.150% 08/25/2028
63743HFZ0 1,750,000.00 NR A2 8/19/2025 8/25/2025 1,748,040.00 4.19 25,418.75 1,759,156.001,748,257.77

TOYOTA MOTOR CREDIT CORP
DTD 09/11/2023 5.250% 09/11/2028
89236TLB9 1,400,000.00 A+ A1 9/6/2023 9/11/2023 1,397,564.00 5.29 22,458.33 1,449,140.001,398,611.48

CITIBANK NA (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
17325FBB3 4,935,000.00 A+ Aa3 9/26/2023 9/29/2023 4,935,000.00 5.80 73,185.50 5,175,201.264,935,000.00

CITIBANK NA (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
17325FBB3 1,300,000.00 A+ Aa3 5/1/2024 5/3/2024 1,325,142.00 5.30 19,278.86 1,363,274.901,316,144.16

ALPHABET INC (CALLABLE)
DTD 11/06/2025 3.875% 11/15/2028
02079KAV9 580,000.00 AA+ Aa2 11/3/2025 11/6/2025 579,501.20 3.91 3,433.68 582,829.24579,525.51

BANK OF AMERICA CORP
(CALLABLE)
DTD 01/24/2025 4.979% 01/24/2029
06051GMK2 1,865,000.00 A- A1 4/1/2025 4/2/2025 1,885,664.20 4.66 40,496.56 1,899,901.611,880,427.49

BLACKROCK FUNDING INC
(CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 405,000.00 AA- Aa3 3/5/2024 3/14/2024 404,266.95 4.74 5,657.63 413,999.91404,512.12

BLACKROCK FUNDING INC
(CALLABLE)
DTD 03/14/2024 4.700% 03/14/2029
09290DAA9 4,200,000.00 AA- Aa3 4/9/2024 4/11/2024 4,181,646.00 4.80 58,671.67 4,293,332.404,187,586.62 34 CITY OF STOCKTON

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 1,450,000.00 A+ A1 4/2/2024 4/4/2024 1,447,578.50 4.84 16,820.00 1,486,975.001,448,357.98

ADOBE INC (CALLABLE)
DTD 04/04/2024 4.800% 04/04/2029
00724PAF6 1,775,000.00 A+ A1 4/1/2024 4/4/2024 1,772,355.25 4.83 20,590.00 1,820,262.501,773,206.68

BANK OF NEW YORK MELLON
(CALLABLE)
DTD 04/22/2025 4.729% 04/20/2029
06405LAH4 7,000,000.00 AA- Aa2 4/25/2025 4/28/2025 7,081,900.00 4.40 65,286.47 7,115,290.007,064,208.94

MASTERCARD INC (CALLABLE)
DTD 05/31/2019 2.950% 06/01/2029
57636QAM6 3,600,000.00 A+ Aa3 6/26/2024 6/27/2024 3,307,140.00 4.82 8,850.00 3,487,118.403,389,774.72

PEPSICO INC (CALLABLE)
DTD 07/17/2024 4.500% 07/17/2029
713448FX1 2,160,000.00 A+ A1 7/15/2024 7/17/2024 2,156,652.00 4.53 44,280.00 2,202,284.162,157,557.46

TOYOTA MOTOR CREDIT CORP
DTD 08/09/2024 4.550% 08/09/2029
89236TMK8 925,000.00 A+ A1 8/8/2024 8/9/2024 921,198.25 4.64 16,601.18 940,020.15922,174.74

TOYOTA MOTOR CREDIT CORP
DTD 08/09/2024 4.550% 08/09/2029
89236TMK8 805,000.00 A+ A1 8/7/2024 8/9/2024 804,074.25 4.58 14,447.51 818,071.59804,314.35

TOYOTA MOTOR CREDIT CORP
DTD 08/09/2024 4.550% 08/09/2029
89236TMK8 370,000.00 A+ A1 8/6/2024 8/9/2024 369,248.90 4.60 6,640.47 376,008.06369,441.72

ELI LILLY & CO (CALLABLE)
DTD 08/14/2024 4.200% 08/14/2029
532457CQ9 750,000.00 A+ Aa3 8/12/2024 8/14/2024 748,357.50 4.25 11,987.50 757,269.00748,779.34

ELI LILLY & CO (CALLABLE)
DTD 08/14/2024 4.200% 08/14/2029
532457CQ9 2,600,000.00 A+ Aa3 8/13/2024 8/14/2024 2,604,420.00 4.16 41,556.67 2,625,199.202,603,268.43

PEPSICO INC (CALLABLE)
DTD 02/07/2025 4.600% 02/07/2030
713448GB8 805,000.00 A+ A1 2/5/2025 2/7/2025 803,647.60 4.64 14,812.00 823,362.86803,869.93

CISCO SYSTEMS INC (CALLABLE)
DTD 02/24/2025 4.750% 02/24/2030
17275RBX9 6,917,000.00 AA- A1 4/21/2025 4/22/2025 7,006,367.64 4.45 115,907.78 7,110,641.416,994,518.39

WALMART INC (CALLABLE)
DTD 04/28/2025 4.350% 04/28/2030
931142FN8 5,416,000.00 AA Aa2 5/1/2025 5/2/2025 5,464,473.20 4.15 41,229.30 5,501,448.235,458,463.87

WALMART INC (CALLABLE)
DTD 04/28/2025 4.350% 04/28/2030
931142FN8 1,265,000.00 AA Aa2 4/23/2025 4/28/2025 1,262,811.55 4.39 9,629.81 1,284,957.901,263,081.08

TEXAS INSTRUMENTS INC
(CALLABLE)
DTD 05/04/2020 1.750% 05/04/2030
882508BJ2 4,000,000.00 A+ Aa3 7/2/2025 7/3/2025 3,561,520.00 4.28 11,083.33 3,641,240.003,602,359.38

NOVARTIS CAPITAL CORP
(CALLABLE)
DTD 11/05/2025 4.100% 11/05/2030
66989HAY4 6,370,000.00 AA- Aa3 11/3/2025 11/5/2025 6,350,890.00 4.17 40,626.44 6,363,209.586,351,455.27 35 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Corporate
AMAZON.COM INC (CALLABLE)
DTD 11/20/2025 4.100% 11/20/2030
023135CT1 7,150,000.00 AA A1 11/17/2025 11/20/2025 7,142,349.50 4.12 33,386.53 7,157,793.507,142,508.56 114,943,000.00 113,823,402.49 1,213,677.18 115,758,715.36Security Type Sub-Total 4.51 114,316,188.53 Agency CMBS
FHMS K061 A2
DTD 01/01/2017 3.347% 11/01/2026
3137BTUM1 2,729,637.39 AA+ Aa1 5/19/2023 5/24/2023 2,645,615.73 4.29 7,613.41 2,714,416.932,708,048.95 FHMS K064 A2
DTD 05/01/2017 3.224% 03/01/2027
3137BXQY1 4,477,651.00 AA+ Aa1 8/16/2023 8/18/2023 4,223,684.23 4.94 12,029.96 4,446,701.484,390,710.94 FHMS K065 A2
DTD 07/01/2017 3.243% 04/01/2027
3137F1G44 2,540,000.00 AA+ Aa1 8/16/2023 8/18/2023 2,394,842.97 4.93 6,864.35 2,521,247.182,488,150.39 FHMS K066 A2
DTD 08/01/2017 3.117% 06/01/2027
3137F2LJ3 3,941,658.00 AA+ Aa1 8/17/2023 8/22/2023 3,686,066.11 4.97 10,238.46 3,905,051.823,842,969.59 FHMS K507 A1
DTD 09/01/2023 4.800% 04/01/2028
3137HAMR4 3,639,479.58 AA+ Aa1 9/20/2023 9/28/2023 3,582,365.23 5.19 14,557.92 3,700,226.143,608,263.01 FHMS K506 A1
DTD 09/01/2023 4.650% 05/01/2028
3137HAMG8 2,046,964.44 AA+ Aa1 9/7/2023 9/14/2023 2,016,352.08 5.01 7,931.99 2,077,138.742,030,372.71 FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2 4,200,000.00 AA+ Aa1 7/13/2023 7/20/2023 4,241,949.60 4.59 16,866.50 4,284,684.604,221,128.42 FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
3137HAD45 3,342,980.41 AA+ Aa1 7/19/2023 7/27/2023 3,342,896.81 4.78 13,307.85 3,372,311.723,342,938.13 FNA 2023-M6 A2
DTD 07/01/2023 4.181% 07/01/2028
3136BQDE6 4,056,823.16 AA+ Aa1 7/18/2023 7/31/2023 3,988,047.33 4.58 14,134.65 4,082,129.634,021,400.16 FHMS KJ47 A1
DTD 09/01/2023 5.272% 08/01/2028
3137HAMN3 1,182,527.61 AA+ Aa1 9/19/2023 9/28/2023 1,182,521.69 5.27 5,195.24 1,199,629.321,182,524.67 FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
3137HAQ74 4,300,000.00 AA+ Aa1 10/11/2023 10/19/2023 4,205,675.20 5.25 16,985.00 4,389,409.904,245,359.68 FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
3137HAMH6 4,200,000.00 AA+ Aa1 9/7/2023 9/14/2023 4,137,869.40 4.99 16,275.00 4,270,371.004,164,726.55 FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4 3,305,000.00 AA+ Aa1 10/25/2023 10/31/2023 3,199,626.69 5.60 13,357.71 3,386,620.283,241,585.39 FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
3137HAMS2 4,200,000.00 AA+ Aa1 9/20/2023 9/28/2023 4,149,797.40 5.07 16,800.00 4,288,426.804,170,434.01 36 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
Agency CMBS
FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
3137HB3D4 1,675,000.00 AA+ Aa1 11/14/2023 11/21/2023 1,670,157.58 5.14 7,075.48 1,722,226.631,672,077.52 FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
3137HB3G7 2,440,000.00 AA+ Aa1 11/28/2023 12/7/2023 2,432,989.88 4.93 9,882.00 2,498,316.002,435,742.99 FHMS K512 A2
DTD 12/01/2023 5.000% 11/01/2028
3137HBCF9 2,215,000.00 AA+ Aa1 12/11/2023 12/21/2023 2,235,683.67 4.79 9,229.17 2,274,862.592,227,789.24 FHMS K514 A2
DTD 02/01/2024 4.572% 12/01/2028
3137HBLV4 2,495,000.00 AA+ Aa1 2/1/2024 2/8/2024 2,519,947.51 4.34 9,505.95 2,537,322.682,510,910.24 FHMS K513 A2
DTD 01/01/2024 4.724% 12/01/2028
3137HBFY5 2,505,000.00 AA+ Aa1 1/10/2024 1/18/2024 2,530,022.45 4.50 9,861.35 2,557,657.602,520,817.85 FHMS K517 A2
DTD 03/01/2024 5.355% 01/01/2029
3137HC2C5 3,760,000.00 AA+ Aa1 3/5/2024 3/14/2024 3,872,747.36 4.67 16,779.00 3,905,402.963,834,187.62 FHMS K515 A2
DTD 02/01/2024 5.400% 01/01/2029
3137HBPD0 4,200,000.00 AA+ Aa1 2/14/2024 2/22/2024 4,313,148.00 4.79 18,900.00 4,363,233.004,273,703.06 FHMS K516 A2
DTD 03/01/2024 5.477% 01/01/2029
3137HBPM0 4,200,000.00 AA+ Aa1 2/29/2024 3/7/2024 4,325,987.40 4.79 19,169.50 4,373,355.004,282,689.32 FHMS K518 A2
DTD 03/01/2024 5.400% 01/01/2029
3137HC2L5 3,040,000.00 AA+ Aa1 3/19/2024 3/28/2024 3,113,400.80 4.83 13,680.00 3,159,125.443,089,459.87 FHMS K520 A2
DTD 04/01/2024 5.180% 03/01/2029
3137HCKV3 2,380,000.00 AA+ Aa1 4/23/2024 4/30/2024 2,389,660.42 5.09 10,273.67 2,465,108.802,386,752.88 FHMS K524 A2
DTD 07/01/2024 4.720% 05/01/2029
3137HDV56 3,730,000.00 AA+ Aa1 7/16/2024 7/25/2024 3,752,905.93 4.58 14,671.33 3,814,454.663,746,923.65 FHMS K522 A2
DTD 06/01/2024 4.803% 05/01/2029
3137HDJJ0 4,285,714.40 AA+ Aa1 6/5/2024 6/13/2024 4,285,701.54 4.80 17,153.57 4,390,487.264,285,714.40 FHMS K529 A2
DTD 10/01/2024 4.791% 09/01/2029
3137HH6C0 2,355,000.00 AA+ Aa1 10/8/2024 10/16/2024 2,402,069.39 4.34 9,402.34 2,416,098.122,391,515.19 FHMS K531 A2
DTD 12/01/2024 4.630% 10/01/2029
3137HHUN9 1,805,000.00 AA+ Aa1 12/3/2024 12/12/2024 1,813,198.31 4.53 6,964.29 1,843,224.491,811,582.20 FHMS K541 A2
DTD 06/01/2025 4.348% 02/01/2030
3137HLXV9 2,470,000.00 AA+ Aa1 6/4/2025 6/12/2025 2,469,911.08 4.35 8,949.63 2,498,731.042,469,924.82 91,718,435.98 91,124,841.79 353,655.32 93,457,971.81Security Type Sub-Total 4.83 91,598,403.45 37 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
KCOT 2023-2A A3
DTD 07/26/2023 5.280% 01/18/2028
500945AC4 831,616.89 NR Aaa 7/18/2023 7/26/2023 831,406.83 5.29 1,951.53 837,819.09831,520.85 BAAT 2023-1A A3
DTD 07/31/2023 5.530% 02/15/2028
06428AAC2 829,813.07 NR Aaa 7/25/2023 7/31/2023 829,781.62 5.53 2,039.50 835,683.17829,798.37 HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1 1,389,715.19 AAA NR 8/15/2023 8/22/2023 1,389,428.63 5.42 2,714.96 1,399,450.141,389,579.18 TAOT 2023-C A3
DTD 08/15/2023 5.160% 04/17/2028
89231FAD2 518,737.36 AAA NR 8/8/2023 8/15/2023 518,620.03 5.17 1,189.64 521,812.95518,679.74 USAOT 2023-A A3
DTD 09/15/2023 5.580% 05/15/2028
90291VAC4 1,462,352.03 AAA Aaa 9/7/2023 9/15/2023 1,462,096.12 5.58 3,626.63 1,471,493.201,462,215.87 BAAT 2023-2A A3
DTD 11/21/2023 5.740% 06/15/2028
06054YAC1 1,996,205.61 NR Aaa 11/15/2023 11/21/2023 1,996,169.48 5.74 5,092.54 2,015,107.681,996,187.37 FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 1,717,625.74 AAA Aaa 8/15/2023 8/23/2023 1,717,519.25 5.53 4,221.54 1,731,866.581,717,569.64 TAOT 2023-D A3
DTD 11/14/2023 5.540% 08/15/2028
89239FAD4 665,080.96 AAA NR 11/7/2023 11/14/2023 665,009.26 5.54 1,637.58 672,406.16665,040.47 AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
02582JKD1 3,460,000.00 AAA NR 9/12/2023 9/19/2023 3,459,845.34 5.23 8,042.58 3,494,125.983,459,912.89 CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
161571HT4 3,380,000.00 AAA NR 9/7/2023 9/15/2023 3,379,063.06 5.17 7,751.47 3,411,809.183,379,463.41 HART 2023-C A3
DTD 11/13/2023 5.540% 10/16/2028
44918CAD4 926,387.02 AAA NR 11/3/2023 11/13/2023 926,265.20 5.54 2,280.97 935,723.15926,315.29 BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
05522RDH8 1,520,000.00 NR Aaa 12/7/2023 12/14/2023 1,519,795.86 4.98 3,364.27 1,535,777.601,519,878.20 GMCAR 2024-1 A3
DTD 01/17/2024 4.850% 12/18/2028
36268GAD7 339,880.54 NR Aaa 1/9/2024 1/17/2024 339,812.19 4.85 686.84 341,954.49339,837.46 CHAIT 2024-A1 A
DTD 01/31/2024 4.600% 01/15/2029
161571HV9 3,825,000.00 AAA NR 1/24/2024 1/31/2024 3,824,417.45 4.60 7,820.00 3,859,268.183,824,631.85 KCOT 2025-1A A3
DTD 02/19/2025 4.670% 06/15/2029
50117FAC5 1,745,000.00 NR Aaa 2/11/2025 2/19/2025 1,744,940.15 4.67 3,621.84 1,771,782.261,744,955.53 HART 2025-A A3
DTD 03/12/2025 4.320% 10/15/2029
44935CAD3 2,870,000.00 AAA NR 3/4/2025 3/12/2025 2,869,576.67 4.32 5,510.40 2,891,252.352,869,649.53 USAOT 2025-A A3
DTD 10/09/2025 3.950% 12/17/2029
90327HAC3 1,095,000.00 AAA Aaa 10/2/2025 10/9/2025 1,094,903.86 3.95 1,922.33 1,097,725.461,094,911.81 38 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity CUSIP Par
S&P
Rating
Moody's
Rating
Settle
Date
Original
Cost
Trade
Date
YTM
at Cost
Accrued
Interest
Market
Value
Amortized
Cost
ABS
HART 2025-B A3
DTD 06/11/2025 4.360% 12/17/2029
44935XAD7 1,125,000.00 AAA NR 6/3/2025 6/11/2025 1,124,898.41 4.36 2,180.00 1,135,740.381,124,910.11 HAROT 2025-3 A3
DTD 08/12/2025 4.040% 02/21/2030
43813QAD1 2,725,000.00 AAA Aaa 8/5/2025 8/12/2025 2,724,943.05 4.04 3,058.06 2,740,559.752,724,948.15 ALLYA 2025-1 A3
DTD 10/16/2025 3.960% 03/15/2030
02008KAC7 970,000.00 AAA NR 10/7/2025 10/16/2025 969,861.48 3.96 1,707.20 972,977.90969,868.69 TAOT 2025-C A3
DTD 07/30/2025 4.110% 03/15/2030
89238VAD0 1,930,000.00 AAA Aaa 7/22/2025 7/30/2025 1,929,796.58 4.11 3,525.47 1,943,380.691,929,813.95 HART 2025-C A3
DTD 09/17/2025 3.880% 04/15/2030
44935JAD8 2,305,000.00 AAA NR 9/9/2025 9/17/2025 2,304,623.82 3.88 3,974.84 2,309,819.762,304,654.47 TAOT 2025-D A3
DTD 10/23/2025 3.840% 06/17/2030
89231GAD0 2,495,000.00 AAA NR 10/15/2025 10/23/2025 2,494,713.08 3.84 4,258.13 2,497,672.152,494,724.23 HAROT 2025-4 A3
DTD 11/12/2025 3.980% 06/17/2030
43814XAD5 2,020,000.00 AAA NR 11/5/2025 11/12/2025 2,019,608.93 3.98 3,573.16 2,030,724.182,019,620.80 CHAOT 2025-1A A3
DTD 07/30/2025 4.290% 06/25/2030
16145NAC5 1,300,000.00 NR Aaa 7/23/2025 7/30/2025 1,299,872.99 4.29 929.50 1,310,804.301,299,883.55 COPAR 2025-1 A3
DTD 11/05/2025 3.850% 07/15/2030
14043YAD7 1,080,000.00 AAA NR 10/28/2025 11/5/2025 1,079,771.26 3.85 1,848.00 1,080,502.201,079,779.97 CHAIT 2025-A1 A
DTD 07/25/2025 4.160% 07/15/2030
161571HZ0 3,765,000.00 AAA NR 7/18/2025 7/25/2025 3,764,924.32 4.16 6,961.07 3,801,592.043,764,937.81 AMXCA 2025-4 A
DTD 07/22/2025 4.300% 07/15/2030
02582JKV1 2,675,000.00 AAA NR 7/15/2025 7/22/2025 2,674,614.53 4.30 5,112.22 2,709,702.782,674,647.63 COMET 2025-A1 A
DTD 09/16/2025 3.820% 09/15/2030
14041NGF2 2,895,000.00 AAA NR 9/9/2025 9/16/2025 2,894,451.11 3.82 4,915.07 2,896,658.842,894,489.59 HART 2025-D A3
DTD 11/12/2025 3.990% 09/16/2030
44891XAD9 2,095,000.00 AAA NR 11/5/2025 11/12/2025 2,094,822.76 3.99 3,715.13 2,103,046.902,094,829.40 CHAOT 2025-2A A3
DTD 10/29/2025 3.860% 10/25/2030
16144MAD6 1,535,000.00 NR Aaa 10/17/2025 10/29/2025 1,534,939.21 3.86 987.52 1,536,129.761,534,946.10 57,487,414.42 57,480,492.53 110,219.99 57,894,369.25Security Type Sub-Total 4.54 57,482,201.91 484,711,350.40 476,451,808.19 3,452,816.90 484,888,464.53Managed Account Sub Total Securities Sub Total
Accrued Interest
$484,711,350.40 $476,451,808.19 $3,452,816.90 $484,888,464.53 $3,452,816.90
480,241,935.36
$480,241,935.36

4.30 4.30%
39 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Portfolio Holdings
Total Investments $488,341,281.43
40 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For the Quarter Ended December 31, 2025
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
S ettle
Date Par ($) CUSIP
Maturity
Date
Transact
Amount ($)Coupon
Yield
at Market
Realized
G/L (BV)Security Description
BUY
10/2/2025 10/9/2025 1,095,000.00 90327HAC3 USAOT 2025-A A3 3.95% 12/17/2029 1,094,903.86 3.95% 10/7/2025 10/16/2025 970,000.00 02008KAC7 ALLYA 2025-1 A3 3.96% 3/15/2030 969,861.48 3.96% 10/15/2025 10/23/2025 2,495,000.00 89231GAD0 TAOT 2025-D A3 3.84% 6/17/2030 2,494,713.08 3.84% 10/17/2025 10/29/2025 1,535,000.00 16144MAD6 CHAOT 2025-2A A3 3.86% 10/25/2030 1,534,939.21 3.86% 10/28/2025 11/5/2025 1,080,000.00 14043YAD7 COPAR 2025-1 A3 3.85% 7/15/2030 1,079,771.26 3.85% 10/30/2025 10/31/2025 1,570,000.00 91282CPA3 US TREASURY N/B 3.62% 9/30/2030 1,568,100.85 3.72% 11/3/2025 11/5/2025 6,370,000.00 66989HAY4 NOVARTIS CAPITAL CORP (CALLABLE) 4.10% 11/5/2030 6,350,890.00 4.17% 11/3/2025 11/6/2025 580,000.00 02079KAV9 ALPHABET INC (CALLABLE) 3.87% 11/15/2028 579,501.20 3.91% 11/5/2025 11/12/2025 2,095,000.00 44891XAD9 HART 2025-D A3 3.99% 9/16/2030 2,094,822.76 3.99% 11/5/2025 11/12/2025 2,020,000.00 43814XAD5 HAROT 2025-4 A3 3.98% 6/17/2030 2,019,608.93 3.98% 11/17/2025 11/20/2025 7,150,000.00 023135CT1 AMAZON.COM INC (CALLABLE) 4.10% 11/20/2030 7,142,349.50 4.12% 12/3/2025 12/5/2025 2,300,000.00 91282CPM7 US TREASURY N/B 3.75% 11/30/2032 2,291,032.41 3.82% 12/3/2025 12/5/2025 4,200,000.00 91282CPN5 US TREASURY N/B 3.50% 11/30/2030 4,178,066.11 3.63% 12/3/2025 12/5/2025 2,300,000.00 91282CPJ4 US TREASURY N/B 4.00% 11/15/2035 2,293,852.40 4.06% 12/31/2025 12/31/2025 2,500,000.00 91282CPR6 US TREASURY N/B 3.62% 12/31/2030 2,490,917.97 3.71% Total BUY 38,260,000.00 38,183,331.02 0.00
41 CITY OF STOCKTON

INTEREST
10/1/2025 10/1/2025 MONEY0002 MONEY MARKET FUND 0.00% 6,639.21 10/1/2025 10/25/2025 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 9,882.00 10/1/2025 10/25/2025 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 13,357.71 10/1/2025 10/25/2025 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 7,961.95 10/1/2025 10/25/2025 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 9,229.17 10/1/2025 10/25/2025 3137HBPD0 FHMS K515 A2 5.40% 1/1/2029 18,900.00 10/1/2025 10/25/2025 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.96 10/1/2025 10/25/2025 3137HH6C0 FHMS K529 A2 4.79% 9/1/2029 9,402.34 10/1/2025 10/25/2025 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 9,505.95 10/1/2025 10/25/2025 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,654.76 10/1/2025 10/25/2025 3137HC2C5 FHMS K517 A2 5.35% 1/1/2029 16,779.00 10/1/2025 10/25/2025 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 17,159.35 10/1/2025 10/25/2025 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 14,140.85 10/1/2025 10/25/2025 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.00 10/1/2025 10/25/2025 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 7,075.48 10/1/2025 10/25/2025 3137HCKV3 FHMS K520 A2 5.18% 3/1/2029 10,273.67 10/1/2025 10/25/2025 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 16,985.00 42 CITY OF STOCKTON

INTEREST
10/1/2025 10/25/2025 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 14,671.33 10/1/2025 10/25/2025 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,359.02 10/1/2025 10/25/2025 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.50 10/1/2025 10/25/2025 3137HLXV9 FHMS K541 A2 4.34% 2/1/2030 8,949.63 10/1/2025 10/25/2025 3137HC2L5 FHMS K518 A2 5.40% 1/1/2029 13,680.00 10/1/2025 10/25/2025 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 6,864.35 10/1/2025 10/25/2025 3137F2LJ3 FHMS K066 A2 3.11% 6/1/2027 10,238.46 10/1/2025 10/25/2025 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 31,069.65 10/1/2025 10/25/2025 3137HBPM0 FHMS K516 A2 5.47% 1/1/2029 19,169.50 10/1/2025 10/25/2025 3137HHUN9 FHMS K531 A2 4.63% 10/1/2029 6,964.29 10/1/2025 10/25/2025 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.00 10/1/2025 10/25/2025 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 14,875.87 10/1/2025 10/25/2025 3137HBFY5 FHMS K513 A2 4.72% 12/1/2028 9,861.35 10/4/2025 10/4/2025 00724PAF6 ADOBE INC (CALLABLE) 4.80% 4/4/2029 77,400.00 10/15/2025 10/15/2025 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 9,951.89 10/15/2025 10/15/2025 02582JKV1 AMXCA 2025-4 A 4.30% 7/15/2030 9,585.42 10/15/2025 10/15/2025 44935CAD3 HART 2025-A A3 4.32% 10/15/2029 10,332.00 43 CITY OF STOCKTON

INTEREST
10/15/2025 10/15/2025 161571HZ0 CHAIT 2025-A1 A 4.16% 7/15/2030 13,052.00 10/15/2025 10/15/2025 44935JAD8 HART 2025-C A3 3.88% 4/15/2030 6,955.98 10/15/2025 10/15/2025 44935XAD7 HART 2025-B A3 4.36% 12/17/2029 4,087.50 10/15/2025 10/15/2025 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 3,693.22 10/15/2025 10/15/2025 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 9,226.14 10/15/2025 10/15/2025 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 12,068.61 10/15/2025 10/15/2025 161571HV9 CHAIT 2024-A1 A 4.60% 1/15/2029 14,662.50 10/15/2025 10/15/2025 89238VAD0 TAOT 2025-C A3 4.11% 3/15/2030 6,610.25 10/15/2025 10/15/2025 50117FAC5 KCOT 2025-1A A3 4.67% 6/15/2029 6,790.96 10/15/2025 10/15/2025 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 5,257.51 10/15/2025 10/15/2025 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 5,025.68 10/15/2025 10/15/2025 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.00 10/15/2025 10/15/2025 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,544.02 10/15/2025 10/15/2025 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 15,079.83 10/15/2025 10/15/2025 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 2,820.22 10/15/2025 10/15/2025 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 6,308.00 10/16/2025 10/16/2025 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 1,657.08 44 CITY OF STOCKTON

INTEREST
10/18/2025 10/18/2025 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 8,161.85 10/18/2025 10/18/2025 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 55.64 10/20/2025 10/20/2025 06405LAH4 BANK OF NEW YORK MELLON (CALLABLE) 4.72% 4/20/2029 163,675.95 10/21/2025 10/21/2025 43813QAD1 HAROT 2025-3 A3 4.04% 2/21/2030 9,174.17 10/25/2025 10/25/2025 16145NAC5 CHAOT 2025-1A A3 4.29% 6/25/2030 4,647.50 10/28/2025 10/28/2025 931142FN8 WALMART INC (CALLABLE) 4.35% 4/28/2030 145,311.75 10/31/2025 10/31/2025 91282CHA2 US TREASURY N/B 3.50% 4/30/2028 3,762.50 10/31/2025 10/31/2025 912828ZN3 US TREASURY N/B 0.50% 4/30/2027 12,100.00 10/31/2025 10/31/2025 91282CFU0 US TREASURY N/B 4.12% 10/31/2027 98,175.00 10/31/2025 10/31/2025 91282CGZ8 US TREASURY N/B 3.50% 4/30/2030 67,900.00 10/31/2025 10/31/2025 91282CLR0 US TREASURY N/B 4.12% 10/31/2029 54,656.25 11/1/2025 11/25/2025 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 9,505.95 11/1/2025 11/25/2025 3137HHUN9 FHMS K531 A2 4.63% 10/1/2029 6,964.29 11/1/2025 11/25/2025 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.50 11/1/2025 11/25/2025 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 9,229.17 11/1/2025 11/25/2025 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 5,241.95 11/1/2025 11/25/2025 3137F2LJ3 FHMS K066 A2 3.11% 6/1/2027 10,238.46 45 CITY OF STOCKTON

INTEREST
11/1/2025 11/25/2025 3137HCKV3 FHMS K520 A2 5.18% 3/1/2029 10,273.67 11/1/2025 11/25/2025 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 14,671.33 11/1/2025 11/25/2025 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.96 11/1/2025 11/25/2025 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 17,157.32 11/1/2025 11/25/2025 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 6,864.35 11/1/2025 11/25/2025 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.00 11/1/2025 11/25/2025 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.00 11/1/2025 11/25/2025 3137HBPD0 FHMS K515 A2 5.40% 1/1/2029 18,900.00 11/1/2025 11/25/2025 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,646.34 11/1/2025 11/25/2025 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,341.60 11/1/2025 11/25/2025 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 13,357.71 11/1/2025 11/25/2025 3137HBPM0 FHMS K516 A2 5.47% 1/1/2029 19,169.50 11/1/2025 11/25/2025 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 14,765.74 11/1/2025 11/25/2025 3137HLXV9 FHMS K541 A2 4.34% 2/1/2030 8,949.63 11/1/2025 11/25/2025 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 16,985.00 11/1/2025 11/25/2025 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 7,951.58 11/1/2025 11/25/2025 3137HC2C5 FHMS K517 A2 5.35% 1/1/2029 16,779.00 46 CITY OF STOCKTON

INTEREST
11/1/2025 11/25/2025 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 7,075.48 11/1/2025 11/25/2025 3137HBFY5 FHMS K513 A2 4.72% 12/1/2028 9,861.35 11/1/2025 11/25/2025 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 14,168.05 11/1/2025 11/25/2025 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 9,882.00 11/1/2025 11/25/2025 3137HC2L5 FHMS K518 A2 5.40% 1/1/2029 13,680.00 11/1/2025 11/25/2025 3137HH6C0 FHMS K529 A2 4.79% 9/1/2029 9,402.34 11/3/2025 11/3/2025 MONEY0002 MONEY MARKET FUND 0.00% 6,065.33 11/3/2025 11/3/2025 46647PAF3 JPMORGAN CHASE & CO (CALLABLE) 3.54% 5/1/2028 30,532.50 11/4/2025 11/4/2025 427866BH0 HERSHEY COMPANY (CALLABLE) 4.25% 5/4/2028 59,181.25 11/4/2025 11/4/2025 882508BJ2 TEXAS INSTRUMENTS INC (CALLABLE) 1.75% 5/4/2030 35,000.00 11/10/2025 11/10/2025 037833ET3 APPLE INC (CALLABLE) 4.00% 5/10/2028 120,900.00 11/15/2025 11/15/2025 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 3,472.33 11/15/2025 11/15/2025 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 11,189.56 11/15/2025 11/15/2025 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 6,308.00 11/15/2025 11/15/2025 89231GAD0 TAOT 2025-D A3 3.84% 6/17/2030 5,854.93 11/15/2025 11/15/2025 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 4,927.73 11/15/2025 11/15/2025 912810FM5 US TREASURY N/B 6.25% 5/15/2030 96,406.25 47 CITY OF STOCKTON

INTEREST
11/15/2025 11/15/2025 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 4,587.41 11/15/2025 11/15/2025 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 8,335.10 11/15/2025 11/15/2025 91282CKQ3 US TREASURY N/B 4.37% 5/15/2034 21,875.00 11/15/2025 11/15/2025 912828ZQ6 US TREASURY N/B 0.62% 5/15/2030 7,921.88 11/15/2025 11/15/2025 02008KAC7 ALLYA 2025-1 A3 3.96% 3/15/2030 3,094.30 11/15/2025 11/15/2025 44935JAD8 HART 2025-C A3 3.88% 4/15/2030 7,452.83 11/15/2025 11/15/2025 44935CAD3 HART 2025-A A3 4.32% 10/15/2029 10,332.00 11/15/2025 11/15/2025 14041NGF2 COMET 2025-A1 A 3.82% 9/15/2030 18,124.31 11/15/2025 11/15/2025 91282CFV8 US TREASURY N/B 4.12% 11/15/2032 160,153.13 11/15/2025 11/15/2025 912810FF0 US TREASURY N/B 5.25% 11/15/2028 26,250.00 11/15/2025 11/15/2025 91282CAV3 US TREASURY N/B 0.87% 11/15/2030 18,943.75 11/15/2025 11/15/2025 89238VAD0 TAOT 2025-C A3 4.11% 3/15/2030 6,610.25 11/15/2025 11/15/2025 91282CJJ1 US TREASURY N/B 4.50% 11/15/2033 97,650.00 11/15/2025 11/15/2025 161571HZ0 CHAIT 2025-A1 A 4.16% 7/15/2030 13,052.00 11/15/2025 11/15/2025 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 2,612.04 11/15/2025 11/15/2025 91282CDJ7 US TREASURY N/B 1.37% 11/15/2031 23,271.88 11/15/2025 11/15/2025 91282CEP2 US TREASURY N/B 2.87% 5/15/2032 111,478.13 48 CITY OF STOCKTON

INTEREST
11/15/2025 11/15/2025 02582JKV1 AMXCA 2025-4 A 4.30% 7/15/2030 9,585.42 11/15/2025 11/15/2025 44935XAD7 HART 2025-B A3 4.36% 12/17/2029 4,087.50 11/15/2025 11/15/2025 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.00 11/15/2025 11/15/2025 91282CHC8 US TREASURY N/B 3.37% 5/15/2033 18,140.63 11/15/2025 11/15/2025 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 4,237.83 11/15/2025 11/15/2025 91282CCB5 US TREASURY N/B 1.62% 5/15/2031 34,084.38 11/15/2025 11/15/2025 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 15,079.83 11/15/2025 11/15/2025 161571HV9 CHAIT 2024-A1 A 4.60% 1/15/2029 14,662.50 11/15/2025 11/15/2025 50117FAC5 KCOT 2025-1A A3 4.67% 6/15/2029 6,790.96 11/15/2025 11/15/2025 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 9,214.66 11/16/2025 11/16/2025 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 1,560.49 11/17/2025 11/17/2025 90327HAC3 USAOT 2025-A A3 3.95% 12/17/2029 4,565.54 11/18/2025 11/18/2025 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 7,498.25 11/18/2025 11/18/2025 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 15.96 11/21/2025 11/21/2025 43813QAD1 HAROT 2025-3 A3 4.04% 2/21/2030 9,174.17 11/21/2025 11/21/2025 38151LAG5 GOLDMAN SACHS BANK USA (CALLABLE) 5.41% 5/21/2027 97,452.00 11/25/2025 11/25/2025 16145NAC5 CHAOT 2025-1A A3 4.29% 6/25/2030 4,647.50 49 CITY OF STOCKTON

INTEREST
11/25/2025 11/25/2025 16144MAD6 CHAOT 2025-2A A3 3.86% 10/25/2030 4,279.24 11/26/2025 11/26/2025 61690U8B9 MORGAN STANLEY BANK NA (CALLABLE) 5.50% 5/26/2028 115,584.00 11/30/2025 11/30/2025 91282CFY2 US TREASURY N/B 3.87% 11/30/2029 20,731.25 11/30/2025 11/30/2025 91282CHF1 US TREASURY N/B 3.75% 5/31/2030 238,687.50 11/30/2025 11/30/2025 91282CES6 US TREASURY N/B 2.75% 5/31/2029 6,737.50 11/30/2025 11/30/2025 91282CKT7 US TREASURY N/B 4.50% 5/31/2029 21,600.00 11/30/2025 11/30/2025 91282CKU4 US TREASURY N/B 4.62% 5/31/2031 115,625.00 11/30/2025 11/30/2025 91282CAZ4 US TREASURY N/B 0.37% 11/30/2025 14.06 12/1/2025 12/1/2025 MONEY0002 MONEY MARKET FUND 0.00% 5,431.00 12/1/2025 12/1/2025 57636QAM6 MASTERCARD INC (CALLABLE) 2.95% 6/1/2029 53,100.00 12/1/2025 12/25/2025 3137F1G44 FHMS K065 A2 3.24% 4/1/2027 6,864.35 12/1/2025 12/25/2025 3137F2LJ3 FHMS K066 A2 3.11% 6/1/2027 10,238.46 12/1/2025 12/25/2025 3137HDV56 FHMS K524 A2 4.72% 5/1/2029 14,671.33 12/1/2025 12/25/2025 3137HAQ74 FHMS K508 A2 4.74% 8/1/2028 16,985.00 12/1/2025 12/25/2025 3137HH6C0 FHMS K529 A2 4.79% 9/1/2029 9,402.34 12/1/2025 12/25/2025 3137HB3G7 FHMS K511 A2 4.86% 10/1/2028 9,882.00 12/1/2025 12/25/2025 3137HAST4 FHMS K509 A2 4.85% 9/1/2028 13,357.71 50 CITY OF STOCKTON

INTEREST
12/1/2025 12/25/2025 3137BXQY1 FHMS K064 A2 3.22% 3/1/2027 12,029.96 12/1/2025 12/25/2025 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 17,155.63 12/1/2025 12/25/2025 3137HAMS2 FHMS K507 A2 4.80% 9/1/2028 16,800.00 12/1/2025 12/25/2025 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 14,668.98 12/1/2025 12/25/2025 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 14,137.79 12/1/2025 12/25/2025 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 7,630.36 12/1/2025 12/25/2025 3137HAMH6 FHMS K506 A2 4.65% 8/1/2028 16,275.00 12/1/2025 12/25/2025 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 5,221.40 12/1/2025 12/25/2025 3137HBFY5 FHMS K513 A2 4.72% 12/1/2028 9,861.35 12/1/2025 12/25/2025 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 7,942.44 12/1/2025 12/25/2025 3137HBLV4 FHMS K514 A2 4.57% 12/1/2028 9,505.95 12/1/2025 12/25/2025 3137HBCF9 FHMS K512 A2 5.00% 11/1/2028 9,229.17 12/1/2025 12/25/2025 3137HHUN9 FHMS K531 A2 4.63% 10/1/2029 6,964.29 12/1/2025 12/25/2025 3137HC2L5 FHMS K518 A2 5.40% 1/1/2029 13,680.00 12/1/2025 12/25/2025 3137HC2C5 FHMS K517 A2 5.35% 1/1/2029 16,779.00 12/1/2025 12/25/2025 3137HACX2 FHMS K505 A2 4.81% 6/1/2028 16,866.50 12/1/2025 12/25/2025 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 13,326.37 51 CITY OF STOCKTON

INTEREST
12/1/2025 12/25/2025 3137HBPD0 FHMS K515 A2 5.40% 1/1/2029 18,900.00 12/1/2025 12/25/2025 3137HBPM0 FHMS K516 A2 5.47% 1/1/2029 19,169.50 12/1/2025 12/25/2025 3137HCKV3 FHMS K520 A2 5.18% 3/1/2029 10,273.67 12/1/2025 12/25/2025 3137HB3D4 FHMS K510 A2 5.06% 10/1/2028 7,075.48 12/1/2025 12/25/2025 3137HLXV9 FHMS K541 A2 4.34% 2/1/2030 8,949.63 12/8/2025 12/8/2025 48125LRU8 JP MORGAN CHASE BANK NA (CALLABLE) 5.11% 12/8/2026 80,482.50 12/8/2025 12/8/2025 17305EGW9 CCCIT 2023-A1 A1 5.23% 12/8/2027 24,319.50 12/15/2025 12/15/2025 02008KAC7 ALLYA 2025-1 A3 3.96% 3/15/2030 3,201.00 12/15/2025 12/15/2025 02582JKV1 AMXCA 2025-4 A 4.30% 7/15/2030 9,585.42 12/15/2025 12/15/2025 44891XAD9 HART 2025-D A3 3.99% 9/16/2030 7,662.46 12/15/2025 12/15/2025 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 8,504.27 12/15/2025 12/15/2025 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 3,259.39 12/15/2025 12/15/2025 89231GAD0 TAOT 2025-D A3 3.84% 6/17/2030 7,984.00 12/15/2025 12/15/2025 89238VAD0 TAOT 2025-C A3 4.11% 3/15/2030 6,610.25 12/15/2025 12/15/2025 44935CAD3 HART 2025-A A3 4.32% 10/15/2029 10,332.00 12/15/2025 12/15/2025 90327HAC3 USAOT 2025-A A3 3.95% 12/17/2029 3,604.38 12/15/2025 12/15/2025 50117FAC5 KCOT 2025-1A A3 4.67% 6/15/2029 6,790.96 52 CITY OF STOCKTON

INTEREST
12/15/2025 12/15/2025 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 10,302.33 12/15/2025 12/15/2025 14041NGF2 COMET 2025-A1 A 3.82% 9/15/2030 9,215.75 12/15/2025 12/15/2025 161571HT4 CHAIT 2023-A1 A 5.16% 9/15/2028 14,534.00 12/15/2025 12/15/2025 14043YAD7 COPAR 2025-1 A3 3.85% 7/15/2030 4,620.00 12/15/2025 12/15/2025 161571HZ0 CHAIT 2025-A1 A 4.16% 7/15/2030 13,052.00 12/15/2025 12/15/2025 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 2,411.86 12/15/2025 12/15/2025 161571HV9 CHAIT 2024-A1 A 4.60% 1/15/2029 14,662.50 12/15/2025 12/15/2025 44935JAD8 HART 2025-C A3 3.88% 4/15/2030 7,452.83 12/15/2025 12/15/2025 05522RDH8 BACCT 2023-A2 A2 4.98% 11/15/2028 6,308.00 12/15/2025 12/15/2025 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 4,587.67 12/15/2025 12/15/2025 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 7,518.21 12/15/2025 12/15/2025 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 3,934.67 12/15/2025 12/15/2025 44935XAD7 HART 2025-B A3 4.36% 12/17/2029 4,087.50 12/15/2025 12/15/2025 02582JKD1 AMXCA 2023-3 A 5.23% 9/15/2028 15,079.83 12/15/2025 12/15/2025 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 4,169.45 12/15/2025 12/15/2025 43814XAD5 HAROT 2025-4 A3 3.98% 6/17/2030 7,369.63 12/16/2025 12/16/2025 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 1,465.88 53 CITY OF STOCKTON

INTEREST
12/18/2025 12/18/2025 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 6,839.47 12/21/2025 12/21/2025 43813QAD1 HAROT 2025-3 A3 4.04% 2/21/2030 9,174.17 12/25/2025 12/25/2025 16145NAC5 CHAOT 2025-1A A3 4.29% 6/25/2030 4,647.50 12/25/2025 12/25/2025 16144MAD6 CHAOT 2025-2A A3 3.86% 10/25/2030 4,937.58 12/31/2025 12/31/2025 91282CNK3 US TREASURY N/B 3.87% 6/30/2030 36,328.13 12/31/2025 12/31/2025 912828ZV5 US TREASURY N/B 0.50% 6/30/2027 10,537.50 12/31/2025 12/31/2025 91282CGB1 US TREASURY N/B 3.87% 12/31/2029 39,331.25 12/31/2025 12/31/2025 91282CEW7 US TREASURY N/B 3.25% 6/30/2027 69,875.00 12/31/2025 12/31/2025 91282CEV9 US TREASURY N/B 3.25% 6/30/2029 7,962.50 12/31/2025 12/31/2025 91282CGC9 US TREASURY N/B 3.87% 12/31/2027 46,112.50 12/31/2025 12/31/2025 91282CMD0 US TREASURY N/B 4.37% 12/31/2029 90,453.13 Total INTEREST 0.00 4,289,771.73 0.00

MATURITY
11/30/2025 11/30/2025 7,500.00 91282CAZ4 US TREASURY N/B 0.37% 11/30/2025 7,500.00 Total MATURITY 7,500.00 7,500.00 0.00

PAYDOWNS
10/1/2025 10/25/2025 445,243.72 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 445,243.71 1.20 54 CITY OF STOCKTON

PAYDOWNS
10/1/2025 10/25/2025 3,016.35 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 3,016.36 30.49 10/1/2025 10/25/2025 4,374.99 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 4,374.97 0.04 10/1/2025 10/25/2025 2,674.00 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 2,673.99 23.77 10/1/2025 10/25/2025 27,532.07 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 27,532.04 259.77 10/1/2025 10/25/2025 509.20 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 509.17 -0.03 10/1/2025 10/25/2025 461.81 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 461.81 4.42 10/15/2025 10/15/2025 159,979.02 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 159,979.02 5.65 10/15/2025 10/15/2025 191,622.78 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 191,622.78 19.32 10/15/2025 10/15/2025 69,589.61 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 69,589.61 8.87 10/15/2025 10/15/2025 183,773.56 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 183,773.56 1.81 10/15/2025 10/15/2025 47,845.96 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 47,845.96 3.13 10/15/2025 10/15/2025 95,104.06 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 95,104.06 1.85 10/15/2025 10/15/2025 48,414.44 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 48,414.44 5.87 10/15/2025 10/15/2025 71,432.78 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 71,432.78 5.92 10/16/2025 10/16/2025 23,899.83 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 23,899.83 3.23 10/18/2025 10/18/2025 147,193.20 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 147,193.20 15.78 10/18/2025 10/18/2025 12,764.63 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 12,764.63 0.15 55 CITY OF STOCKTON

PAYDOWNS
11/1/2025 11/25/2025 386.58 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 386.58 3.59 11/1/2025 11/25/2025 4,677.70 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 4,677.70 0.01 11/1/2025 11/25/2025 5,729.71 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 5,729.71 53.71 11/1/2025 11/25/2025 3,826.64 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 3,826.64 0.05 11/1/2025 11/25/2025 421.48 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 421.48 11/1/2025 11/25/2025 2,359.69 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 2,359.69 20.36 11/1/2025 11/25/2025 24,189.08 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 24,189.08 221.36 11/15/2025 11/15/2025 90,695.92 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 90,695.92 1.70 11/15/2025 11/15/2025 185,484.22 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 185,484.22 1.77 11/15/2025 11/15/2025 73,658.83 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 73,658.83 5.94 11/15/2025 11/15/2025 154,153.32 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 154,153.32 5.28 11/15/2025 11/15/2025 46,553.82 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 46,553.82 5.46 11/15/2025 11/15/2025 175,674.49 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 175,674.49 17.18 11/15/2025 11/15/2025 46,124.38 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 46,124.38 2.94 11/15/2025 11/15/2025 68,898.98 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 68,898.98 8.46 11/16/2025 11/16/2025 23,408.03 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 23,408.03 3.08 11/18/2025 11/18/2025 5,135.81 43815PAC3 HAROT 2022-2 A3 3.73% 7/20/2026 5,135.81 0.05 56 CITY OF STOCKTON

PAYDOWNS
11/18/2025 11/18/2025 146,123.45 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 146,123.45 15.10 12/1/2025 12/25/2025 5,955.57 3137HAMN3 FHMS KJ47 A1 5.27% 8/1/2028 5,955.55 12/1/2025 12/25/2025 6,076.59 3137BTUM1 FHMS K061 A2 3.34% 11/1/2026 6,076.61 52.53 12/1/2025 12/25/2025 2,696.79 3137HAMG8 FHMS K506 A1 4.65% 5/1/2028 2,696.80 22.57 12/1/2025 12/25/2025 513.85 3137HDJJ0 FHMS K522 A2 4.80% 5/1/2029 513.83 -0.02 12/1/2025 12/25/2025 27,765.96 3137HAMR4 FHMS K507 A1 4.80% 4/1/2028 27,765.95 246.13 12/1/2025 12/25/2025 4,652.30 3137HAD45 FHMS KJ46 A1 4.77% 6/1/2028 4,652.29 0.05 12/1/2025 12/25/2025 465.59 3136BQDE6 FNA 2023-M6 A2 4.18% 7/1/2028 465.59 4.20 12/8/2025 12/8/2025 930,000.00 17305EGW9 CCCIT 2023-A1 A1 5.23% 12/8/2027 930,000.00 61.05 12/15/2025 12/15/2025 62,626.60 500945AC4 KCOT 2023-2A A3 5.28% 1/18/2028 62,626.60 7.39 12/15/2025 12/15/2025 157,591.38 06054YAC1 BAAT 2023-2A A3 5.74% 6/15/2028 157,591.38 1.46 12/15/2025 12/15/2025 42,160.40 89231FAD2 TAOT 2023-C A3 5.16% 4/17/2028 42,160.40 4.77 12/15/2025 12/15/2025 127,784.22 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 127,784.22 4.24 12/15/2025 12/15/2025 40,924.35 89239FAD4 TAOT 2023-D A3 5.54% 8/15/2028 40,924.35 2.53 12/15/2025 12/15/2025 74,950.05 06428AAC2 BAAT 2023-1A A3 5.53% 2/15/2028 74,950.05 1.36 12/15/2025 12/15/2025 154,467.20 90291VAC4 USAOT 2023-A A3 5.58% 5/15/2028 154,467.20 14.63 12/15/2025 12/15/2025 67,332.14 44918CAD4 HART 2023-C A3 5.54% 10/16/2028 67,332.14 5.29 57 CITY OF STOCKTON

PAYDOWNS
12/16/2025 12/16/2025 22,811.60 36268GAD7 GMCAR 2024-1 A3 4.85% 12/18/2028 22,811.60 2.93 12/18/2025 12/18/2025 127,358.77 43815QAC1 HAROT 2023-3 A3 5.41% 2/18/2028 127,358.77 12.68 Total PAYDOWNS 4,449,067.50 4,449,067.38 1,201.07
SELL
10/2/2025 10/6/2025 1,095,000.00 91282CGT2 US TREASURY N/B 3.62% 3/31/2028 1,097,964.05 3,137.92 10/9/2025 10/10/2025 565,000.00 91282CGC9 US TREASURY N/B 3.87% 12/31/2027 574,445.14 198.34 10/16/2025 10/20/2025 2,455,000.00 91282CGP0 US TREASURY N/B 4.00% 2/29/2028 2,497,333.07 -5,845.92 10/17/2025 10/20/2025 1,535,000.00 91282CGP0 US TREASURY N/B 4.00% 2/29/2028 1,562,368.36 -2,755.77 11/4/2025 11/5/2025 50,000.00 912828V98 US TREASURY N/B 2.25% 2/15/2027 49,385.45 -108.35 11/4/2025 11/5/2025 2,540,000.00 912828U24 US TREASURY N/B 2.00% 11/15/2026 2,521,057.85 -18,332.05 11/4/2025 11/5/2025 3,700,000.00 91282CCZ2 US TREASURY N/B 0.87% 9/30/2026 3,610,846.45 -33,418.06 11/4/2025 11/5/2025 855,000.00 912828V98 US TREASURY N/B 2.25% 2/15/2027 844,491.11 -7,304.00 11/6/2025 11/7/2025 175,000.00 912828V98 US TREASURY N/B 2.25% 2/15/2027 172,918.31 -342.72 11/6/2025 11/7/2025 4,000,000.00 91282CCF6 US TREASURY N/B 0.75% 5/31/2026 3,946,708.50 -19,274.24 11/17/2025 11/20/2025 4,775,000.00 91282CPA3 US TREASURY N/B 3.62% 9/30/2030 4,778,175.00 3,807.10 11/17/2025 11/20/2025 1,570,000.00 91282CPA3 US TREASURY N/B 3.62% 9/30/2030 1,571,043.92 -259.14 12/3/2025 12/5/2025 5,350,000.00 91282CEF4 US TREASURY N/B 2.50% 3/31/2027 5,301,733.79 -1,070.22 58 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Appendix
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.

PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sources external to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements.

While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion of the strategy rated by a NRSRO.

It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.

Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to be lower than the performance shown.

The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast, projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion as of the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and data presented are not necessarily indicative of future events or expected performance.

PFM Asset Management serves clients in the public sector and is a division of U.S. Bancorp Asset Management, Inc., which is the legal entity providing investment advisory services. U.S. Bancorp Asset Management, Inc. is a registered investment adviser, a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S.

Bancorp. U.S. Bank N.A. is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Asset Management, Inc. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.

For more information regarding PFMAM's services or entities, please visit www.pfmam.com.

Further distribution is not permitted without prior written consent. 60 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Appendix
Important Disclosures
Generally, PFMAM’s market prices are derived from closing bid prices as of the last business day of the month as supplied by ICE Data Services. There may be differences in the values shown for investments due to accrued but uncollected income and the use of differing valuation sources and methods. Non-negotiable FDIC-insured bank certificates of deposit are priced at par. Although PFMAM believes the prices to be reliable, the values of the securities may not represent the prices at which the securities could have been bought or sold. Explanation of the valuation methods for a registered investment company or local government investment program is contained in the appropriate fund offering documentation or information statement.

In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded.

Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns.

ICE Bank of America Indices provided by Bloomberg Financial Markets.

Money market fund/cash balances are included in performance and duration computations.

Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.

Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.

MBS maturities are represented by expected average life. 61 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Appendix
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.

Agencies: Federal agency securities and/or Government-sponsored enterprises.

Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.

Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, and receivables.

Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.

Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.

Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector added or subtracted from the overall portfolio performance.

Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.

Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding on investment returns, while nominal yield does not.

FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.

Interest Rate: Interest per year divided by principal amount and expressed as a percentage.

Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.

Maturity: The date upon which the principal or stated value of an investment becomes due and payable.

Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.

Par Value: The nominal dollar face amount of a security.

Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the mortgage-backed security.
62 CITY OF STOCKTON

ATTACHMENT A
PFM Asset Management | pfmam.com
For
the Quarter Ended December 31, 2025
Appendix
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.

Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and maturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.

Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whose decisions are binding on its members.

Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.

Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.

U.S. Treasury: The department of the U.S. government that issues Treasury securities.

Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.

YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period from purchase date to maturity, stated as a percentage on an annualized basis.

YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis. 63 CITY OF STOCKTON

ATTACHMENT A

INVESTMENT REPORT
City of Stockton | As of December 31, 2025
CHANDLER ASSET MANAGEMENT | chandlerasset.com
Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

ATTACHMENT B

TABLE OF CONTENTS
City of Stockton | As of December 31, 2025

ECONOMIC UPDATE

ACCOUNT PROFILE

CONSOLIDATED INFORMATION

PORTFOLIO HOLDINGS

TRANSACTIONS

ATTACHMENT B

ECONOMIC UPDATE

ATTACHMENT B



The near-term economic outlook continues to be distorted by the data delays from the government shutdown. Recently released government data—reflecting conditions from two to three months ago—indicate inflation remains moderately above the Federal Reserve’s target, while labor market conditions have continued to soften. As the flow of economic data normalizes, the Chandler team expects further yield curve steepening as the Federal Reserve moves the policy rate toward a more neutral range. U.S. trade and fiscal policy also remain sources of elevated market uncertainty.

The Federal Reserve's December Federal Open Market Committee meeting concluded with the third consecutive 25-basis-point rate cut in 2025, lowering the target range to 3.50%–3.75%. However, policymakers remain divided on the path forward. Four Fed governors project one additional 25-basis-point cut in 2026, another four anticipate no furthereasing, eight expect multiple cuts, and three call for a potential rate hike. Chair Jerome Powell noted that the Fed is now “well placed to wait and see” how labor market conditions and inflation evolve in the near term.

The US Treasury yield curve steepened in December, as the 2-year Treasury yield dropped2 basis points to 3.48%, the 5-year Treasury was up 13 basis points to 3.73%, and the 10-year Treasury yield was 15 basis points higher at 4.17%. The spread between the 2-year and 10- year Treasury yield points on the curve was 17 basis points wider from Novemberat +69 basis points at December month-end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was +33 basis points. The spread between the 3-month and 10-year Treasury yield points on the curve was +54 basis points in December versus +21 basis points in November.

ECONOMIC UPDATE

ATTACHMENT B
-400
-200
0 200
400
600
800
1,000MOM Change In Thousands (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
The delayed Nonfarm Payrolls reports for October and November were released together on December 16. October’s data revealed unexpected weakness, with payrolls declining by 105,000 jobs, largely due to the removal of thousands of federal employees who had accepted deferred resignation offers under the Trump administration. In November, payrolls partially recovered with a gain of 64,000 jobs.

Notably, the unemployment rate rose to 4.6% in November, up from 4.4% in the most recent data available from September.

Source: US Department of Labor Source: US Department of Labor

EMPLOYMENT

ATTACHMENT B
0 2,000
4,000
6,000
8,000
10,000
12,000
14,000
Job Openings
Recession
Historical Average
In Thousands (000's)
The Labor Department’s Job Ope nings and Labor Turnover Survey (JOLTS) showed an increase to 7.670 million new job openings in October, a slight pick-up from the 7.658 million in September.The rise marked the highest level of available jobs in five months. However, in October hiring declined by 218,000 while layoffs rose to 1.85 million signaling further softening in the labor market. Job openings indicate a ratio of approximately 1 job for each unemployed individual, representing a relatively balanced labor market.

Source: US Department of Labor

JOB OPENINGS & LABOR TURNOVER SURVEY

ATTACHMENT B

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YOY (%) Change

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Cor e Deflator Y OY % Change
Fed Target
YOY (%) Change
Inflation came in lower than ex pected in November,with the Consumer Price Index (CPI) rising 2.7% year over year and core CPI easing to

2.6%. Notably, both Owners’ Equivalent Rent and Rent of Primary Residence contributed to the slowdown in services inflation. Shelter costs typically lag broader market trends by 12 to 18 months. Services, meanwhile, have remained the dominant driver of inflation throughout the post-pandemic period. The Personal Consumption Expenditures (PCE) Index for September, released on December 5, showed headline inflation up 0.3% from August and 2.8% year over year. Core PCE rose 0.2% on the month and 2.8% on an annual basis.

Source: US Department of Labor Source: US Department of Commerce

INFLATION

ATTACHMENT B

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%
Retail Sales YOY % Change
YOY (%) Change
October Retail Sales, relea sed with a one-monthdelay, were flat from the prior month but up 3.5% year over year. Eight of thirteen major categories posted gains, while motor vehicle sales declined following the expiration of federal tax incentives for electric vehicles, and gas station sales weakened amid lower fuel prices. The government shutdown may have weighed on consumer confidence regarding jobs, incomes, and overall financial conditions, both current and in the future. The Conference Board’s Consumer Confidence Index declined to

89.1 in December from an upwardly revised 92.9 in November, marking its fifth consecutive monthly drop. Consumers remained pessimistic about both business conditions and the labor market. 0 20
40 60
80 100
120
140
160
Index Level
Consumer Confidence
Recession
Source: US Department of Commerce Source: The Conference Board All time high is 144.70 (1/31/00); All time low is 25.30 (2/28/09)

CONSUMER

ATTACHMENT B
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%

0.0%

5.0%

10.0%

15.0%
Leading Economic Indicators (LEI)
Recession
YOY (%) Change
-1.00
-0.75
-0.50
-0.25

0.00 0.25

0.50 0.75

1.00 Chicago Fed National Activity Index (CFNAI)
Recession
3 Month Average
The Conference Board’s Leading Economic Index (LEI) declined 0.3% in September, marking its second consecutive monthly decrease after a revised 0.3% dr op in August. On a year-over-year basis, the index fell 3.3%. According to the Conference Board, weakening expectations among consumers and businesses contributed most to the LEI’s overall decline. The index continues to signal slower economic growth through the end of 2025 and into 2026. The Chicago Fed National Activity Index (CFNAI) came in at -0.21 in September, following a downwardly revised -0.31 in August, signaling that U.S. economic activity remained below its historical trend for the sixth consecutive month. The three-month moving average ticked down to -0.21 in September from -0.18 in August, reinforcing signs of ongoing below-trend national growth. Employment-related indicators turned slightly positive, contributing +0.01 in September after a -0.11 result in August.

Source: The Conference Board Source: Federal Reserve Bank of Chicago

LEADING INDICATORS OF ECONOMIC ACTIVITY

ATTACHMENT B
0 200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400
In Thousands of Units
Annualized Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
The S&P Cotality Case-Shiller 20-City Composite Home Price Index rose 1.3% year over year in October, slightly down from a 1.4% gain in September and marking the slowest annual increase since mid 2023. Short-termmomentum also weakened, with 80 percent of the 20 tracked markets recording month-over-monthprice declines on a non-seasonally adjusted basis. Existing home sales edged higher in November to a pace of 4.13 million units, reflecting only modest momentum despite recent rate relief. The Freddie Mac 30-year fixed mortgage rate averaged 6.23% at November month end.

Source: US Department of Commerce Source: S&P
-20.0%
-16.0%
-12.0%
-8.0%
-4.0%

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

24.0%
S&P/Case-Shiller 20 City Composite Home Price Index
Recession
YOY (%) Change

HOUSING

ATTACHMENT B
40 45
50 55
60 65
70 Institute of Supply Management (ISM) Surveys
ISM Manufacturing ISM Services

EXPANDING

CONTRACTING
The Institute for Supply Management’s (ISM) manufacturing index registered 48.2 percent in November, down 0.5 from 48.7 in October.

Manufacturing activity has remained in contraction for 35 of the past 37 months, as readings below 50 signal contraction and those above 50 indicate expansion. The sector continues to be weighed down by trade policy uncertainty and elevated productioncosts, with factory orders declining at the fastest pace since July. In contrast, the ISM services index sustained its expansionary momentum,rising to 52.6 in Novemberfrom 52.4 in October. Growthin Business Activity and New Orders supported thegain, though respondents cited tariffs and the recent government shutdown as persistent headwinds.

Source: Institute for Supply Management

SURVEY BASED MEASURES

ATTACHMENT B
Components of GDP 12/24 3/25 6/25 9/25

2.6% 0.4% 1.7% 2.4%
-1.3% 3.8% -2.7% 0.0%
-0.1% -4.7% 4.8% 1.6%

0.3% -0.4% -0.4% 0.2%

0.3% 0.2% 0.3% 0.2%

1.9% -0.6% 3.8% 4.3%
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
State and Local (Consumption and Gross
Investment)
-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Source: US Department of Commerce Source: US Department of Commerce The U.S. inflation adjus ted gross domestic product (GDP) report demonstrated continued strength in the third quarter, with the first estimate showing a 4.3% annualized quarter-over-quarterincrease, up from 3.8% in the second quarter. Consumer spending accelerated to 3.5% from 2.5%, while exports contributed 1.59 percentage points to growth—both key drivers of the quarter’s performance. The stronger-than-expected result represented the fastest pace of U.S. economic expansion in two years.

GROSS DOMESTIC PRODUCT (GDP)

ATTACHMENT B
Source: Federal Reserve Source: Bloomberg
0 1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
Recession
In $ millions
The Federal Reserve lowered its benchmark interest rate by a quarter point to a target range of 3.50% to 3.75% at its December meeting, citing concerns about emerging weakness in the labor market. A few policymakers dissented, arguing that tighter monetary policy may still be warranted to ensure progress on price stability. Beginning December 1, the Fed also halted its balance sheet runoff, announcing that principal and interest payments from its holdings will be reinvested in Treasury securities to maintain ample reserves and support market stability.

FEDERAL RESERVE

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
Recession
Yield (%)

ATTACHMENT B
Source: Bloomberg Source: Bloomberg

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yield (%)

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Yield Curve
Dec-25
Sep-25
Dec-24
Yield (%)
At the end of December, the 2-year yield was 77 basis points lower, and the 10-year yield was 40 basis points lower, year-over-year. The spread between the 2-year and 10-year Treasury yield points on the curve increased to +69 basis points at December month-endversus +52 basis points at November month-end. The prior 2-year/10-year yield curve inversion, which spanned from July 2022 to August 2024, was historically long. The average historical spread (since 2005) is about +95 basis points. The spread between the 3-month and 10-year Treasury yield points on the curve was +54 basis points in December versus +21 basis points in November.

BOND YIELDS

ATTACHMENT B

ACCOUNT PROFILE

ATTACHMENT B

OBJECTIVES
City of Stockton | As of December 31, 2025
Investment Objectives
Safety of principal is the foremost objective of the investment program. The investment portfolio shall remain sufficiently liquid to meet all requirements that may be reasonably anticipated. The investment portfolio shall be designed with the objective of attaining a market rate of return throughout budgetary and econmic cycles, taking into account the investment risk constraints and liquidity needs.

Chandler Asset Management Performance Objective
The performance objective for the portfolio is to earn a total rate of return through a market cycle that is equal to or above the return on the benchmark index.

Strategy
In order to achieve this objective, the portfolio invests in high-quality fixed income securities that comply with the investment policy and all regulations governing the funds.

ATTACHMENT B

STATEMENT OF COMPLIANCE
City of Stockton ConsAgg | Account #10021 | As of December 31, 2025 Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES
Max % (MV) 20.0 7.4 Compliant
Max % Issuer (MV; Agencies & Agency CMOs) 20.0 5.0 Compliant Max Maturity (Years) 10.0 4.1 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV; Non Agency ABS & MBS) 20.0 9.0 Compliant
Max % Issuer (MV) 5.0 1.4 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA by 1) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE
(CDARS)
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 0.0 0.0 Compliant

COLLATERALIZED TIME DEPOSITS (NON-

NEGOTIABLE CD/TD)
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Com pliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 26.7 Compliant
Max % Issuer (MV) 5.0 1.8 Compliant

ATTACHMENT B

STATEMENT OF COMPLIANCE
City of Stockton ConsAgg | Account #10021 | As of December 31, 2025 Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant

FEDERAL AGENCIES
Max % (MV) 100.0 8.2 Compliant
Max % Issuer (MV; Agencies & Agency CMOs) 100.0 5.0 Compliant Max Callables (MV) 20.0 0.0 Compliant
Max Maturity (Years) 10 8 Compliant

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 0.9 Compliant
Max % Issuer (MV) 20.0 0.9 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

MORTGAGE -BACKED SECURITIES (NON-AGENCY)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 30.0 1.1 Compliant
Max % Issuer (MV) 5.0 1.1 Compliant
Max Maturity (Years) 10 6 Comp liant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 30.0 0.2 Compliant
Max % Issuer (MV) 5.0 0.2 Compliant

ATTACHMENT B

STATEMENT OF COMPLIANCE
City of Stockton ConsAgg | Account #10021 | As of December 31, 2025 Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years) 10 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0.0 Compliant

REPURCHASE AGREEMENTS
Max Maturity (Years) 1.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 10.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 46.4 Compliant
Max Maturity (Years) 10 6 Compliant

ATTACHMENT B

PORTFOLIO CHARACTERISTICS
City of Stockton Reserve | Account #10020 | As of December 31, 2025 Benchmark* 12/31/2025
Portfolio
9/30/2025
Portfolio
Average Maturity (yrs) 2.66 3.01 3.07
Average Modified Duration 2.48 2.54 2.56
Average Purchase Yield 3.85% 3.79%
Average Market Yield 3.61% 3.79% 3.94%
Average Quality** AA AA AA
Total Market Value 352,592,890 348,603,978
*Benchmark: ICE BofA 1-5 Year Gov/Corp A or better
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

ATTACHMENT B

SECTOR DISTRIBUTION
City of Stockton Reserve | Account #10020 | As of December 31, 2025 Sector as a Percentage of Market Value
Sector 12/31/2025 09/30/2025
US Treasury 46.60% 45.84%
Corporate 26.87% 26.42%
ABS 9.08% 9.46%
Agency 8.29% 12.46%
Agency CMBS 7.48% 5.11%
Muni Bonds 1.25% 0.16%
Money Mkt Fd 0.42% 0.54%

ATTACHMENT B

ISSUERS
City of Stockton Reserve | Account #10020 | As of December 31, 2025 Issuer Investment Type % Portfolio
United States US Treasury 46.60%
FHLMC Agency CMBS 7.48%
Farm Credit System Agency 5.02%
Federal Home Loan Banks Agency 2.49%
State Street Corporation Corporate 1.78%
JPMorgan Chase & Co. Corporate 1.71%
Bank of America Corporation Corporate 1.59%
Morgan Stanley Corporate 1.51%
American Express Credit Master Trust ABS 1.43%
Chase Issuance Trust ABS 1.42%
Caterpillar Inc. Corporate 1.17%
The Home Depot, Inc. Corporate 1.17%
UnitedHealth Group Incorporated Corporate 1.13%
Visa Inc. Corporate 1.13%
BMW Vehicle Owner Trust ABS 1.12%
State of California Muni Bonds 1.10%
PACCAR Inc Corporate 1.05%
National Rural Utilities Cooperative Corporate 1.03%
New York Life Insurance Company Corporate 1.02%
American Honda Finance Corporation Corporate 1.01%
The Charles Schwab Corporation Corporate 0.98%
Cisco Systems, Inc. Corporate 0.88%
Mastercard Incorporated Corporate 0.88%
Massachusetts Mutual Life Insurance Corporate 0.87%
Hyundai Auto Receivables Trust ABS 0.85%
Prologis, Inc. Corporate 0.85%
Honda Auto Receivables Owner Trust ABS 0.80%
State of Tennessee Agency 0.78%
Metropolitan Life Global Funding I Corporate 0.77%
John Deere Owner T rust ABS 0.76%

ATTACHMENT B

ISSUERS
City of Stockton Reserve | Account #10020 | As of December 31, 2025 Issuer Investment Type % Portfolio
Toyota Motor Corporation Corporate 0.74%
Verizon Master Trust ABS 0.73%
American Express Company Corporate 0.72%
The Progressive Corporation Corporate 0.67%
Eli Lilly and Company Corporate 0.66%
Northern Trust Corporation Corporate 0.63%
Public Storage OP, LP Corporate 0.60%
Target Corporation Corporate 0.60%
Deere & Company Corporate 0.58%
Merck & Co., Inc. Corporate 0.58%
Toyota Auto Receivables Owner Trust ABS 0.57%
PepsiCo, Inc. Corporate 0.57%
WF Card Issuance Trust ABS 0.52%
Bank of America Credit Card Trust ABS 0.47%
Federated Hermes, Inc. Money Mkt Fd 0.42%
GM Financial Automobile Leasing Trus ABS 0.40%
State of New Jersey Muni Bonds 0.16%
Cash Cash 0.00%
TOTAL 100.00%

ATTACHMENT B

QUALITY DISTRIBUTION
Rating 12/31/2025 09/30/2025
AAA 7.75% 7.99%
AA 65.40% 62.88%
A 21.27% 20.74%
A-1+ 1.69% 4.23%
NA 3.89% 4.17%
Rating 12/31/2025 09/30/2025
Aaa 6.72% 5.73%
Aa 67.99% 66.91%
A 19.43% 18.89%
P-1 1.69% 4.23%
NA 4.16% 4.23%
Rating 12/31/2025 09/30/2025
AAA 13.31% 12.88%
AA 63.58% 62.03%
A 12.16% 11.56%
F1+ 1.69% 4.23%
NA 9.26% 9.31%
City of Stockton Reserve | Account #10020 | As of December 31, 2025 S&P Rating Moody’s Rating Fitch Rating

ATTACHMENT B
0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
Portfolio 11.6% 5.9% 4.6% 14.3% 22.0% 24.6% 10.9% 6.0% 0.0% ICE BofA 1-5 Year Gov/Corp A or better 0.0% 0.0% 2.6% 34.8% 28.5% 22.0% 12.1% 0.0% 0.0%

DURATION DISTRIBUTION
City of Stockton Reserve | Account #10020 | As of December 31, 2025 Portfolio Compared to the Benchmark

ATTACHMENT B
3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception

TOTAL RATE OF RETURN
City of Stockton Reserve 1.15% 6.12% 4.94% 4.83% 3.76%
ICE BofA 1-5 Year Gov/Corp A or better 1.12% 5.84% 4.70% 4.62% 3.44% Basis Point Fee* 0.01% 0.04% 0.03% 0.03% 0.03%
Net of Fees 1.15% 6.08% 4.91% 4.80% 3.73%
3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception*

MARKET VALUE BASIS EARNINGS
Income Earned 3,744,803 12,125,451 20,269,470 25,982,050 27,203,420 Change in Market Value 277,986 8,197,254 12,415,589 20,700,659 2,698,302 TOTAL DOLLAR RETURN 4,022,789 20,322,704 32,685,059 46,592,709 29,901,722

INVESTMENT PERFORMANCE
City of Stockton Reserve | Account #10020 | As of December 31, 2025 Total and Realized Rate of Return : Inception | 08/01/2022 *Periods over 1 year are annualized.

Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized and unrealized gains and losses in the portfolio. Realized rate of return: A measure of a portfolio’s return over time. It is the internal rate which equates the beginning book value of the portfolio with the ending book value; it includes interest earnings, realized gains and losses in the portfolio.

ATTACHMENT B

HISTORICAL AVERAGE PURCHASE YIELD
City of Stockton Reserve | Account #10020 | As of December 31, 2025 Purchase Yield as of 12/31/25 = 3.85%

ATTACHMENT B

PORTFOLIO CHARACTERISTICS
City of Stockton Enhanced Cash | Account #11194 | As of December 31, 2025 Benchmark* 12/31/2025
Portfolio
9/30/2025
Portfolio
Average Maturity (yrs) 0.16 0.00 0.00
Average Modified Duration 0.15 0.00 0.00
Average Purchase Yield 3.62% 4.01%
Average Market Yield 3.63% 5.17% 4.01%
Average Quality** AA+ AAA AAA
Total Market Value 1,807,248 1,800,975
*Benchmark: ICE BofA 3-Month US Treasury Bill Index
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

ATTACHMENT B

SECTOR DISTRIBUTION
City of Stockton Enhanced Cash | Account #11194 | As of December 31, 2025 Sector as a Percentage of Market Value
Sector 12/31/2025 09/30/2025
Money Mkt Fd 100.00% 100.00%

ATTACHMENT B

ISSUERS
City of Stockton Enhanced Cash | Account #11194 | As of December 31, 2025 Issuer Investment Type % Portfolio
Federated Hermes, Inc. Money Mkt Fd 99.69%
Cash Cash 0.31%
TOTAL 100.00%

ATTACHMENT B

QUALITY DISTRIBUTION
Rating 12/31/2025 09/30/2025
AAA 100.00% 100.00%
Rating 12/31/2025 09/30/2025
Aaa 100.00% 100.00%
Rating 12/31/2025 09/30/2025
AAA 100.00% 100.00%
City of Stockton Enhanced Cash | Account #11194 | As of December 31, 2025 S&P Rating Moody’s Rating Fitch Rating

ATTACHMENT B
0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
Portfolio 100.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% ICE BofA 3-Month US Treasury Bill Index 100.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

DURATION DISTRIBUTION
City of Stockton Enhanced Cash | Account #11194 | As of December 31, 2025 Portfolio Compared to the Benchmark

ATTACHMENT B
3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception

TOTAL RATE OF RETURN
City of Stockton Enhanced Cash 0.97% 4.19% 4.60%
ICE BofA 3-Month US Treasury Bill Index 0.97% 4.18% 4.56% Basis Point Fee* 0.01% 0.06% 0.05%
Net of Fees 0.96% 4.13% 4.54%
3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception*

MARKET VALUE BASIS EARNINGS
Income Earned 17,813 951,865 1,813,667
Change in Market Value 0 (3,460) 0
TOTAL DOLLAR RETURN 17,813 (948,405) 1,813,667

INVESTMENT PERFORMANCE
City of Stockton Enhanced Cash | Account #11194 | As of December 31, 2025 Total and Realized Rate of Return : Inception | 05/17/2024 *Periods over 1 year are annualized.

ATTACHMENT B

HISTORICAL AVERAGE PURCHASE YIELD
City of Stockton Enhanced Cash | Account #11194 | As of December 31, 2025 Purchase Yield as of 12/31/25 = 3.62%

ATTACHMENT B

CONSOLIDATED INFORMATION

ATTACHMENT B

PORTFOLIO CHARACTERISTICS
City of Stockton ConsAgg | Account #10021 | As of December 31, 2025 12/31/2025
Portfolio
9/30/2025
Portfolio
Average Maturity (yrs) 3.00 3.05
Average Modified Duration 2.52 2.54
Average Purchase Yield 3.85% 3.79%
Average Market Yield 3.80% 3.94%
Average Quality** AA AA+
Total Market Value 354,400,138 350,404,953
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

ATTACHMENT B

SECTOR DISTRIBUTION
City of Stockton ConsAgg | Account #10021 | As of December 31, 2025 Sector as a Percentage of Market Value
Sector 12/31/2025 09/30/2025
US Treasury 46.36% 45.60%
Corporate 26.74% 26.29%
ABS 9.04% 9.41%
Agency 8.25% 12.40%
Agency CMBS 7.44% 5.09%
Muni Bonds 1.25% 0.16%
Money Mkt Fd 0.93% 1.05%

ATTACHMENT B

PORTFOLIO HOLDINGS

ATTACHMENT B

HOLDINGS REPORT
City of Stockton Reserve | Account #10020 | As of December 31, 2025 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
36271VAD9 GMALT 2025-1 A3 4.66
02/21/2028 1,390,000.00 02/05/2025

4.66%
1,389,835.98
1,389,883.97
100.82

3.88%
1,401,382.71
1,979.21

0.40%
11,498.74
NA/AAA
AAA

2.14 0.98
05592XAD2 BMWOT 2023-A A3 5.47
02/25/2028 258,902.33 07/11/2023

5.47%
258,856.46
258,880.93
100.60

4.08%
260,464.03
236.03

0.07%
1,583.10
NA/AAA
AAA

2.15 0.42
477920AC6 JDOT 2023-B A3 5.18 03/15/2028 602,804.93 06/21/2023

5.51%
602,704.38
602,757.98
100.62

4.01%
606,512.18
1,387.79

0.17%
3,754.20
Aaa/NA
AAA

2.21 0.50
47787CAC7 JDOT 2023-C A3 5.48 05/15/2028 2,044,536.90 09/12/2023

5.55%
2,044,396.44
2,044,465.43
100.89

4.03%
2,062,780.30
4,979.58

0.59%
18,314.87
Aaa/NA
AAA

2.37 0.59
02582JJZ4 AMXCA 2023-1 A 4.87 05/15/2026 1,270,000.00 06/07/2023

4.92%
1,269,887.35
1,269,981.71
100.37

3.90%
1,274,645.66
2,748.84

0.36%
4,663.95
NA/AAA
AAA

0.37 0.36
438123AC5 HAROT 2023-4 A3 5.67
06/21/2028 744,126.59 11/01/2023

5.74 %
743,995.55
744,056.52
101.09

4.09%
752,247.24
1,172.00

0.21%
8,190.71
Aaa/NA
AAA

2.47 0.64
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 4,915,000.00 --

5.23%
4,920,147.11
4,916,029.51
100.94

3.83%
4,961,255.07
11,271.73

1.42%
45,225.56
NA/AAA
AAA

2.71 0.68
096919AD7
BMWOT
2024-A A3 5.18
02/26/2029 1,424,211.11 06/04/2024

5.18%
1,423,994.78
1,424,066.30
100.91

3.98%
1,437,209.88
1,229.57

0.41%
13,143.58
Aaa/AAA
NA

3.16 0.73
44934QAD3 HART 2024-B A3 4.84 03/15/2029 910,000.00 07/16/2024

5.45%
909,862.68
909,905.29
101.12

3.83%
920,177.44
1,957.51

0.26%
10,272.15
NA/AAA
AAA

3.20 1.05
43813YAC6 HAROT 2024-3 A3 4.57
03/21/2029 2,040,000.00 08/09/2024

4.66%
2,039,679.52
2,039,774.92
100.76

3.84%
2,055,504.00
2,589.67

0.59%
15,729.08
Aaa/NA
AAA

3.22 0.97
05522RDJ4 BACCT 2024-1 A 4.93 05/15/2029 1,635,000.00 06/06/2024

4.93%
1,634,908.28
1,634,937.45
101.57

3.78%
1,660,613.91
3,582.47

0.47%
25,676.46
Aaa/AAA
NA

3.37 1.30
89240JAD3 TAOT 2025-A A3 4.64 08/15/2029 1,990,000.00 01/22/2025

4.69%
1,989,920.20
1,989,936.41
101.07

3.95%
2,011,300.96
4,103.82

0.57%
21,364.55
Aaa/NA
AAA

3.62 1.46
096924AD7 BMWOT
2025-A A3 4.56
09/25/2029 2,185,000.00 02/04/2025

4.56%
2,184,784.78
2,184,826.01
101.01

3.82%
2,206,974.55
1,660.60

0.63%
22,148.53
Aaa/AAA
NA

3.73 1.27
92970QAE5 WFCIT 2024-2 A 4.29 10/15/2029 1,815,000.00 10/17/2024

4.29%
1,814,730.29
1,814,794.71
100.97

3.76%
1,832,581.91
3,460.60

0.52%
17,787.19
Aaa/AAA
NA

3.79 1.69
44935CAD3 HART 2025-A A3 4.32 10/15/2029 2,045,000.00 03/04/2025

4.84%
2,044,698.36
2,044,751.39
100.74

3.90%
2,060,143.23
3,926.40

0.59%
15,391.84
NA/AAA
AAA

3.79 1.61
02582JKM1 AMXCA 2025-1 A 4.56 12/17/2029 3,685,000.00
02/04
/2025

4.57%
3,684,181.56
3,684,331.38
101.62

3.73%
3,744,608.56
7,468.27

1.07%
60,277.18
NA/AAA
AAA

3.96 1.83

ATTACHMENT B

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
92348KDY6 VZMT 2025-3 A1A 4.51
03/20/2030 2,525,000.00 03/25/2025

4.51%
2,524,891.43
2,524,907.94
100.79

4.13%
2,545,068.70
3,479.59

0.73%
20,160.76
Aaa/NA
AAA

4.22 1.16
31,481,475.14 101.00 31,793,470.31 9.08% 3.18
Total ABS 31,479,581.85 4.89% 31,478,287.86 3.88% 57,233.68 315,182.45 1.11 AGENCY
3130ATS57 FEDERAL HOME LOAN BANKS 4.5
03/10/2028 4,100,000.00 03/28/2023

3.89%
4,211,028.00
4,149,066.02
102.09

3.50%
4,185,714.60
56,887.50

1.20%
36,648.58
Aa1/AA+
AA+

2.19 2.05
3133ERDH1 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.75 04/30/2029 2,500,000.00 04/29/2024

4.70%
2,505,075.00
2,503,376.85
103.60

3.59%
2,590,000.00
20,121.53

0.74%
86,623.15
Aa1/AA+
AA+

3.33 3.04
3130B1BC0 FEDERAL HOME LOAN BANKS

4.625 06/08/2029 1,900,000.00 07/30/2024

4.10%
1,943,358.00
1,930,666.06
103.29

3.60%
1,962,422.60
5,614.24

0.56%
31,756.54
Aa1/AA+
AA+

3.44 3.15
3133EN7B0 FEDERAL FARM CREDIT BANKS
FUNDING CORP 3.75 01/25/2030 3,000,000.00 01/20/2023

3.83%
2,985,090.00
2,991,340.89

99.78 3.81%
2,993,466.00
48,750.00

0.86 %
2,125.11
Aa1/AA+
AA+

4.07 3.68
3133EN4V9 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.125 09/23/2030 2,100,000.00 12/22/2022

4.22%
2,087,505.00
2,092,371.29
101.20

3.84%
2,125,227.30
23,581.25

0.61%
32,856.01
Aa1/AA+
AA+

4.73 4.22
3133ENQ45 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.25 09/30/2030 875,000.00 11/30/2022

4.40%
866,250.00
869,699.84
102.13

3.75%
893,
628.75
9,400.17

0.26%
23,928.91
Aa1/AA+
AA+

4.75 4.23
880591EX6 TENNESSEE VALLEY AUTHORITY

1.5 09/15/2031 1,003,000.00 01/23/2023

4.03%
818,959.53
881,530.96

87.81 3.90%
880,768.40
4,429.92

0.25%
(762.56)
Aa1/AA+
AA+

5.71 5.34
3133ENFQ8 FEDERAL FARM CREDIT BANKS
FUNDING CORP 1.81 12/01/2031 2,303,000.00 01/25/2023

3.94%
1,939,056.91
2,059,695.43

88.43 4.03%
2,036,538.29
3,473.69

0.58%
(23,157.14)
Aa1/AA+
AA+

5.92 5.49
3133ENGS3 FEDERAL FARM CREDIT BANKS
FUNDING CORP 1.625 12/09/2031 4,500,000.00 02/24/2023

4.35%
3,613,410.00
3,900,646.36

88.25 3.86%
3,971,169.00
4,468.75

1.13%
70,522.64
Aa1/AA+
AA+

5.94 5.55
3133EN6M7 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.0 01/19/2033 3,000,000.00 01/18/2023

3.93%
3,017,490.00
3,012,328.70

98.85 4.19%
2,965,392.00
54,000.00

0.85%
(46,936.70)
Aa1/AA+
AA+

7.05 5.97
3130AV4X7 FEDERAL HOME LOAN BANKS

4.375 03/11/2033 2,500,000.00 05/12
/2023

4.04%
2,568,175.00
2,549,896.20
102.07

4.04%
2,551,627.50
33,420.14

0.73%
1,731.30
Aa1/AA+
AA+

7.19 6.06
880591FB3 TENNESSEE VALLEY AUTHORITY

4.375 08/01/2034 1,845,000.00 08/08/2024

4.49%
1,828,561.05
1,830,846.24
100.92

4.25%
1,861,931.57
33,632.81

0.53%
31,085.32
Aa1/AA+
AA+

8.58 6.98
28,383,958.49 98.31 29,017,886.01 8.29% 5.06
Total Agency 29,626,000.00 4.14% 28,771,464.86 3.84% 297,780.00 246,421.15 4.50

ATTACHMENT B

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration

AGENCY CMBS
3137F2LJ3 FHMS K-066 A2 3.117 06/25/2027 2,400,000.00 10/20/2022

4.88%
2,234,343.75
2,349,119.87

99.07 3.71%
2,377,711.20
6,234.00

0.68%
28,591.33
Aa1/AA+
AAA

1.48 1.27
3137FG6X8 FHMS K-077 A2 3.85 05/25/2028 5,245,000.00 05/24/2023

4.65%
5,148,705.08
5,199,423.26
100.00

3.76%
5,245,110.15
16,827.71

1.50%
45,686.88
Aa1/AA+
AAA

2.40 2.17
3137FHPJ6 FHMS K-080 A2 3.926 07/25/2028 3,500,000.00 10/28/2025

3.73%
3,510,937.50
3,510,241.27
100.15

3.79%
3,505,141.50
11,450.83

1.00%
(5,099.77)
Aaa/AA+
AA+

2.57 2.38
3137FK4M5 FHMS K-085 A2 4.06 10/25/2028 1,500,000.00 12/09/2025

3.90%
1,503,574.22
1,503,504.41
100.49

3.80%
1,507,315.50
5,075.00

0.43%
3,811.09
Aaa/AA+
AA+

2.82 2.58
3137FLN91 FHMS K-091 A2 3.505 03/25/2029 4,065,000.00 09/12/2025

3.81%
4,020,539.06
4,024,276.46

98.88 3.84%
4,019,614.28
11,873.19

1.15%
(4,662.18)
Aa1/AAA
AA+

3.23 2.90
3137FMTY8 FHMS K-094 A2 2.903 06/25/2029 3,500,000.00 11/17/2025

3.89%
3,383,925.78
3,387,707.87

96.82 3.87%
3,388,567.00
8,46

7.08 0.97%
859.13
Aa1/AA+
AAA

3.48 3.18
3137FPJG1 FHMS K-099 A2 2.595 09/25/2029 3,500,000.00 06/06/2025

4.38%
3,261,425.78
3,292,967.67

95.51 3.91%
3,342,832.50
7,568.75

0.96%
49,864.83
Aa1/AA+
AAA

3.73 3.40
3137FRUT6 FHMS K-106 A2 2.069 01/25/2030 3,000,000.00
07/14
/2025

4.28%
2,730,937.50
2,758,686.12

92.97 3.95%
2,789,166.00
5,172.50

0.80%
30,479.88
Aa1/AA+
AAA

4.07 3.79
25,794,388.67 98.06 26,175,458.12 7.48% 2.98
Total Agency CMBS 26,710,000.00 4.20% 26,025,926.94 3.83% 72,669.06 149,531.18 2.71 CASH
CCYUSD Receivable 13,447.05 -- 13,447.05
13,447.05

1.00 13,447.05

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
13,447.05 1.00 13,447.05 0.00% 0.00
Total Cash 13,447.05 13,447.05 0.00 0.00 0.00

CORPORATE
46625HQW3 JPMORGAN CHASE & CO 3.3
04/01/2026 3,000,000.00 04/21/2025

4.38%
2,970,390.00
2,992,253.20

99.88 3.74%
2,996,508.00
24,750.00

0.86%
4,254.80
A1/A
AA-

0.25 0.24
06051GFX2 BANK OF AMERICA CORP 3.5
04/19/2026 3,000,000.00 04/22/2025

4.43%
2,973,360.00
2,992,030.14

99.87 3.91%
2,996,130.00
21,000.00

0.86%
4,099.86
A1/A-
AA-

0.30 0.29
91324PEC2 UNITEDHEALTH GROUP INC 1.15
05/15/2026 4,000,000.00 09/19
/2022

4.16%
3,592,560.00
3,959,011.29

99.02 3.84%
3,960,684.00
5,877.78

1.13%
1,672.71
A2/A+
A

0.37 0.36

ATTACHMENT B

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
02665WEK3 AMERICAN HONDA FINANCE
CORP 5.25 07/07/2026 3,500,000.00 04/29/2025

4.37%
3,535,000.00
3,515,115.47
100.69

3.88%
3,524,216.50
88,812.50

1.01%
9,101.03
A3/A-
A

0.51 0.49
61761J3R8 MORGAN STANLEY 3.125
07/27/2026 3,500,000.00 04/29/2025

4.30%
3,450,685.00
3,477,465.33

99.55 3.93%
3,484,299.00
46,788.19

1.00%
6,833.67
A1/A-
A+

0.57 0.55
87612EBM7 TARGET CORP 1.95 01/15/2027 2,140,000.00 --

1.97%
2,137,844.40
2,139,550.85

98.20 3.73%
2,101,518.52
19,242.17

0.60%
(38,032.33)
A2/A
A

1.04 1.00
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 3,500,000.00 01/23/2023

4.35%
3,251,955.00
3,429,461.17

98.42 3.84%
3,444,780.50
28,106.94

0.98%
15,319.33
A2/A-
A

1.17 1.13
665859AW4 NORTHERN TRUST CORP 4.0
05/10/2027 2,200,000.00 08/24/2022

3.93%
2,206,402.00
2,201,759.79
100.33

3.75%
2,207,176.40
12,466.67

0.63%
5,416.61
A2/A+
A+

1.36 1.22
92826CAH5 VISA INC 2.75 09/15/2027 4,000,000.00 03/27/2024

4.57%
3,769,760.00
3,886,880.51

98.79 3.49%
3,951,564.00
32,388.89

1.13 %
64,683.49
Aa3/AA-
NA

1.71 1.63
74340XBV2 PROLOGIS LP 3.375 12/15/2027 3,000,000.00 01/25/2023

4.28%
2,881,530.00
2,952,625.29

99.15 3.83%
2,974,581.00
4,500.00

0.85%
21,955.71
A2/A
NA

1.96 1.87
24422EWR6 JOHN DEERE CAPITAL CORP 4.75
01/20/2028 2,000,000.00 01/20/2023

4.35%
2,035,920.00
2,01
4,766.23
101.92

3.77%
2,038,304.00
42,486.11

0.58%
23,537.77
A1/A
A+

2.05 1.90
713448FL7 PEPSICO INC 3.6 02/18/2028 2,000,000.00 04/27/2023

4.00%
1,964,920.00
1,984,466.57

99.78 3.71%
1,995,542.00
26,600.00

0.57%
11,075.43
A1/A+
NA

2.13 2.00
857477CU5 STATE STREET CORP 4.536
02/28/2028 4,155,000.00 02/25/2025

4.51%
4,155,000.00
4,155,000.00
101.53

3.79%
4,218,725.24
64,394.19

1.21%
63,725.24
Aa3/A
AA-

2.16 1.94
57636QAW4 MASTERCARD INC 4.875
03/09/2028 3,000,000.00 06/13/2024

4.50%
3,037,110.00
3,021,424.62
102.27

3.78%
3,068,232.00
45,500.00

0.88%
46,807.38
Aa3/A+
NA

2.19 1.96
61747YER2 MORGAN STANLEY 4.21
04/20/2028 1,800,000.00 07/31/2023

5.39%
1,729,026.00
1,775,245.27
100.23

4.57%
1,804,129.20
14,945.50

0.52%
28,883.93
A1/A-
A+

2.30 1.24
58933YBH7 MERCK & CO INC 4.05 05/17/2028 2,000,000.00 --

4.03%
2,001,621.20
2,000,748.69
100.72

3.73%
2,014,410.00
9,900.00

0.58 %
13,661.31
Aa3/A+
NA

2.38 2.16
46647PAM8 JPMORGAN CHASE & CO 3.509
01/23/2029 3,000,000.00 02/27/2024

5.19%
2,823,480.00
2,906,781.57

99.05 4.28%
2,971,533.00
46,201.83

0.85%
64,751.43
A1/A
AA-

3.06 1.93
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029 3,600,000.00 01/29/2024

4.52%
3,612,132.00
3,607,477.08
101.84

3.96%
3,666,081.60
69,460.00

1.05%
58,604.52
A1/A+
NA

3.08 2.80
857477CN1 STATE STREET CORP 4.53
02/20/2029 2,000,000.00 08/14/2024

4.53%
2,000,000.00
2,000,000.00
101.29

4.16%
2,025,742.00
32,968.33

0.58%
25,742.00
Aa3/A
AA-

3. 14

1.99 17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029 3,000,000.00 02/27/2024

4.84%
3,001,560.00
3,000,975.33
102.64

3.95%
3,079,236.00
50,520.83

0.88%
78,260.67
A1/AA-
NA

3.16 2.79

ATTACHMENT B

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
14913UAJ9 CATERPILLAR FINANCIAL SERVICES
CORP 4.85 02/27/2029 4,000,000.00 04/29/2024

5.08%
3,960,640.00
3,974,273.20
102.75

3.91%
4,110,040.00
66,822.22

1.17%
135,766.80
A2/A
A+

3.16 2.86
06051GLG2 BANK OF AMERICA CORP 5.202
04/25/2029 2,500,000.00 05/28/2024

5.38%
2,484,025.00
2,490,540.38
102.56

4.41%
2,564,020.00
23,842.50

0.73%
73,479.62
A1/A-
AA-

3.31 2.15
89236TMF9 TOYOTA MOTOR CREDIT CORP

5.05 05/16/2029 2,500,000.00 05/28/2024

5.09%
2,495,600.00
2,497,012.47
103.15

4.04%
2,578,762.50
15,781.25

0.74%
81,750.03
A1/A+
A+

3.37 3.07
57629W4T4 MASSMUTUAL GLOBAL FUNDING
II 5.15 05/30/2029 2,950,000.00 05/22/2024

5.17%
2,947,551.50
2,948,330.57
102.95

4.21%
3,036,889.30
13,082.43

0.87%
88,558.73
Aa3/AA+
AA+

3.41 3.10
437076DC3 HOME DEPOT INC 4.75
06/25/2029 4,000,000.00 07/30/2024

4.58%
4,028,360.00
4,019,992.27
102.52

3.97%
4,100,976.00
3,166.67

1.17%
80,983.73
A2/A
A

3.48 3.12
025816EJ4 AMERICAN EXPRESS CO 4.351
07/20/2029 2,500,000.00 07/25/2025

4.38%
2,497,650.00
2,497,903.92
100.
73 4.18%
2,518,240.00
47,135.83

0.72%
20,336.08
A2/A-
A

3.55 2.35
532457CQ9 ELI LILLY AND CO 4.2 08/14/2029 2,290,000.00 08/12/2024

4.25%
2,284,984.90
2,286,371.88
100.97

3.91%
2,312,194.68
36,601.83

0.66%
25,822.80
Aa3/A+
NA

3.62 3.21
64952WFK4 NEW YORK LIFE GLOBAL FUNDING

4.6 12/05/2029 3,500,000.00 02/27/2025

4.58 %
3,502,135.00
3,501,758.52
101.57

4.16%
3,554,964.00
11,627.78

1.02%
53,205.48
Aa1/AA+
AAA

3.93 3.55
59217GFT1 METROPOLITAN LIFE GLOBAL
FUNDING I 4.9 01/09/2030 2,645,000.00 01/02/2025

4.95%
2,639,551.30
2,640,616.57
102.32

4.27%
2,706,311.10
61,922.39

0.77%
65,694.53
Aa3/AA-
AA-

4.02 3.54
63743HFX5

NATIONAL RURAL UTILITIES
COOPERATIVE FINANCE CORP 4.95
02/07/2030
3,500,000.00 05/28/2025

4.70%
3,535,315.00
3,530,764.31
102.92

4.17%
3,602,112.50
69,300.00

1.03%
71,348.19
A2/NA
A

4.10 3.55
743315AW3 PROGRESSIVE CORP 3.2
03/26/2030 2,425,000.00 11/14/2025

4.16%
2,332,971.25
2,335,575.84

96.72 4.05%
2,345,576.40
20,477.78

0.67%
10,000.56
A2/A
A

4.23 3.88
74464AAC5 PUBLIC STORAGE OPERATING CO

4.375 07/01/2030 2,085,000.00 07/17/2025

4.58%
2,066,109.90
2,067,853.76
100.82

4.17%
2,102,015.69
45,862.76

0.60%
34,161.92
A2/A
NA

4.50 3.98
Total Corporate 93,
290,000.00 4.51%
91,905,149.45
92,804,032.08
100.85

3.96%
94,055,495.12
1,102,533.38

26.87%
1,251,463.04

2.44 2.10

MONEY MARKET
FUND
60934N104 FEDERATED HRMS GV O INST 1,469,469.98 --

3.62%
1,469,469.98
1,469,469.98

1.00 5.17%
1,469,469.98

0.00 0.42%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 1,469,469.98 3.62%
1,469,469.98
1,469,469.98

1.00 5.17%
1,469,469.98

0.00 0.42%

0.00 0.00

0.00 ATTACHMENT B

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration

MUNICIPAL BONDS
646140DP5 NEW JERSEY ST TPK AUTH TPK
REV 1.047 01/01/2026 557,500.00 01/22/2021

1.05%
557,500.00
557,500.00
100.00

1.05%
557,500.00
2,918.51

0.16%

0.00 A1/AA-
A+

0.00 0.00
13063ESC1 CALIFORNIA ST 4.35 11/01/2032 3,800,000.00 10/31/2025

4.26%
3,820,216.00
3,819,772.39
100.90

4.20%
3,834,029.00
25,254.17

1.10%
14,256.61
Aa2/AA-
AA

6.84 5.82
Total Municipal
Bonds 4,357,500.00 3.85%
4,377,716.00
4,377,272.39
100.78

3.80%
4,391,529.00
28,172.68

1.25%
14,256.61

5.97 5.08

US TREASURY
91282CBH3 UNITED STATES TREASURY 0.375
01/31/2026 17,305,000.00 --

0.79%
16,971,456.65
17,299,201.65

99.74 3.68%
17,260,041.61
27,156.62

4.93%
(39,160.04)
Aa1/AA+
AA+

0.08 0.08
91282CBQ3 UNITED STATES TREASURY 0.5
02/28/2026 12,670,000.00 --

0.94%
12,437,181.06
12,661,406.44

99.48 3.82%
12,604,039.98
21,525.00

3.60%
(57,366.46)
Aa1/AA+
AA+

0.16 0.16
912797ST5 UNITED STATES TREASURY
03/03/2026 6,000,000.00 12/17/2025

3.61%
5,955,812.50
5,964,060.83

99.41 3.62%
5,964,462.00

0.00 1.70
%
401.17
P-1/A-1+
F1+

0.17 0.16
91282CCF6 UNITED STATES TREASURY 0.75
05/31/2026 8,320,000.00 --

0.80%
8,301,545.71
8,318,480.71

98.85 3.60%
8,224,245.12
5,485.71

2.35%
(94,235.59)
Aa1/AA+
AA+

0.41 0.40
91282CCY5 UNITED STATES TREASURY 1.25
09/30/2028 3,325,000.00 --

3.32%
3,058,576.17
3,149,948.52

94.07 3.54%
3,127,707.80
10,618.99

0.89%
(22,
240.72)
Aa1/AA+
AA+

2.75 2.65
91282CPC9 UNITED STATES TREASURY 3.5
10/15/2028 6,300,000.00 10/28/2025

3.49%
6,301,230.47
6,301,157.69

99.90 3.54%
6,293,599.20
47,250.00

1.80%
(7,558.49)
Aa1/AA+
AA+

2.79 2.61
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 2,500,000.00 07/25/2025

3.87%
2,575,781.25
2,565,791.61
103.54

3.54%
2,588,575.00
20,873.62

0.74%
22,783.39
Aa1/AA+
AA+

2.84 2.61
9128285M8 UNITED STATES TREASURY 3.125
11/15/2028 6,300,000.00 10/28/2025

3.50%
6,232,078.13
6,235,983.79

98.88 3.54%
6,229,616.40
25,561.12

1.78%
(6,367.39)
Aa1/AA+
AA+

2.88 2.71
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 6,300,000.00 10/28/2025

3.51%
6,345,035.16
6,342,548.32
100.57

3.55%
6,335,683.20
652.62

1.81%
(6,865.12)
Aa1/AA+
AA+

3.00 2.81
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 7,000,000.00 03/27/2024

4.20%
6,940,117.19
6,961,905.06
101.27

3.56%
7,08
9,138.00
117,173.91

2.03%
127,232.94
Aa1/AA+
AA+

3.08 2.83
9128286B1 UNITED STATES TREASURY 2.625
02/15/2029 7,000,000.00 --

4.06%
6,525,214.84
6,722,526.34

97.23 3.57%
6,806,408.00
69,405.57

1.94%
83,881.66
Aa1/AA+
AA+

3.13 2.93

ATTACHMENT B

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029 6,500,000.00 06/13/2024

4.25%
6,572,617.19
6,550,017.15
102.88

3.60%
6,686,875.00
25,714.29

1.91%
136,857.85
Aa1/AA+
AA+

3.41 3.13
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 3,450,000.00 12/23/2024

4.42%
3,390,164.06
3,403,449.06
101.29

3.61%
3,494,608.50
57,750.00

1.00%
91,159.44
Aa1/AA+
AA+

3.58 3.26
912828YB0 UNITED STATES TREASURY 1.625
08/15/2029 7,600,000.00 --

3.42%
6,985,504.69
7,149,571.50

93.35 3.60%
7,094,425.20
46,648.10

2.03%
(55,146.30)
Aa1/AA+
AA+

3.62 3.44
91282CLR0 UNITED STATES TREASURY 4.125
10/31/2029 6,500,000.00 11/26/2024

4.21%
6,475,371.10
6,480,847.23
101.71

3.64%
6,611,208.50
45,921.96

1.89%
130,361.27
Aa1/AA+
AA+

3.83 3.49
91282CFY2 UNITED STATES TREASURY 3.875
11/30/2029 8,000,000.00 01/30/2025

4.32%
7,847,187.50
7,876,208.01
100.84

3.64%
8,066,872.00
27,252.75

2.30%
190,663.99
Aa1/AA+
AA+

3.91 3.59
91282CGJ4 UNITED STATES TREASURY 3.5
01/31/2030 6,700,000.00 --

4.02%
6,511,839.85
6,578,244.98

99.43 3.65%
6,661,528.60
98,133.15

1.90 %
83,283.62
Aa1/AA+
AA+

4.08 3.71
912828Z94 UNITED STATES TREASURY 1.5
02/15/2030 542,500.00 04/06/2022

2.65%
498,040.43
519,145.93

91.85 3.65%
498,294.93
3,073.68

0.14%
(20,851.00)
Aa1/AA+
AA+

4.13 3.91
91282CMZ1 UNITED STATES TREASURY 3.875
04/30/2030 3,500,000.00 05/28/2025

4.08%
3,467,871.09
3,471,750.87
100.78

3.68%
3,527,345.50
23,2

28.59 1.01%
55,594.63
Aa1/AA+
AA+

4.33 3.93
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 3,000,000.00 06/06/2025

4.11%
2,985,117.19
2,986,804.51
101.27

3.68%
3,038,202.00
10,549.45

0.87%
51,397.49
Aa1/AA+
AA+

4.41 4.00
91282CNN7 UNITED STATES TREASURY 3.875
07/31/2030 4,000,000.00 08/15/2025

3.85%
4,005,000.00
4,004,623.89
100.74

3.70%
4,029,532.00
64,864.13

1.15%
24,908.11
Aa1/AA+
AA+

4.58 4.10
91282CAE1 UNITED STATES TREASURY 0.625
08/15/2030 587,500.00 04/06/2022

2.63%
498,755.37
538,381.82

87.02 3.71%
511,216.65
1,386.93

0.15%
(27,165.17)
Aa1/AA+
AA+

4.62 4.46
91282CNX5 UNITED STATES TREASURY 3.625
08/31/2030 5,000,000.00 09/18/2025

3.66%
4,992,382.81
4,992,821.21

99.64 3.71%
4,982,225.00
61,584.94

1.42%
(10,596.21)
Aa1/AA+
AA+

4.67 4.20
91282CPA3 UNITED STATES TREASURY 3.625
09/30/2030 1,500,000.00 11/17/2025

3.72%
1,493,496.09
1,493,657.13

99.61 3.71%
1,49
4,199.50
13,892.51

0.43%
542.37
Aa1/AA+
AA+

4.75 4.28
91282CPD7 UNITED STATES TREASURY 3.625
10/31/2030 7,000,000.00 11/13/2025

3.70%
6,975,664.06
6,976,308.72

99.58 3.72%
6,970,467.00
43,459.94

1.99%
(5,841.72)
Aa1/AA+
AA+

4.83 4.36
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030 7,000,000.00 12/08/2025

3.75%
6,920,703.13
6,921,706.89

98.99 3.73%
6,929,454.00
21,538.46

1.98%
7,747.11
Aa1/AA+
AA+

4.91 4.45
91282CBL4 UNITED STATES TREASURY 1.125
02/15/2031 565,000.00 04/06/2022

2.62%
498,104.88
526,274.51

88.04 3.71%
497,442.95
2,400.87

0.14%
(28,831.56)
Aa1/AA+
AA+

5.13 4.86
9128
10FP8 UNITED STATES TREASURY 5.375
02/15/2031 6,000,000.00 --

4.27%
6,403,066.41
6,290,767.95
107.51

3.75%
6,450,702.00
121,813.86

1.84%
159,934.05
Aa1/AA+
AA+

5.13 4.40

ATTACHMENT B

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CCS8 UNITED STATES TREASURY 1.25
08/15/2031 562,500.00 04/06/2022

2.62%
498,515.62
524,030.64

87.12 3.82%
490,056.19
2,655.83

0.14%
(33,974.45)
Aa1/AA+
AA+

5.62 5.30
91282CFV8 UNITED STATES TREASURY 4.125
11/15/2032 2,500,000.00 --

3.72%
2,582,389.33
2,557,713.73
101.14

3.93%
2,528,612.50
13,389.16

0.72%
(29,101.23)
Aa1/AA+
AA+

6.88 5.91
Total US Treasury 163,527,500.00 3.16%
161,245,819.93
162,365,336.71

99.81 3.65%
163,086,784.33
1,030,961.77

46.60%
721,447.62

2.89 2.64
Total Portfolio 350,473,498.88 3.85%
344,671,424.70
347,305,237.86

99.54 3.79%
350,003,539.92
2,589,350.57
100.00%
2,698,302.05

3.01 2.54
Total Market Value +
Accrued 352,592,890.49

ATTACHMENT B

HOLDINGS REPORT
City of Stockton Enhanced Cash | Account #11194 | As of December 31, 2025 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 5,615.76 -- 5,615.76
5,615.76

1.00 5,615.76

0.00 0.31%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 5,615.76
5,615.76
5,615.76

1.00 5,615.76

0.00 0.31%

0.00 0.00

0.00 MONEY MARKET
FUND
60934N104 FEDERATED HRMS GV O INST 1,801,632.22 --

3.62%
1,801,632.22
1,801,632.22

1.00 5.17%
1,801,632.22

0.00 99.69%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 1,801,632.22 3.62%
1,801,632.22
1,801,632.22

1.00 5.17%
1,801,632.22

0.00 99.69%

0.00 0.00

0.00 Total Portfolio 1,807,247.98 3.62%
1,807,247.98
1,807,247.98

1.00 5.17%
1,807,247.98

0.00 100.00%

0.00 0.00

0.00 Total Market Value +
Accrued 1,807,247.98

ATTACHMENT B

TRANSACTIONS

ATTACHMENT B

TRANSACTION LEDGER
City of Stockton Reserve | Account #10020|10/01/2025 Through 12/31/2025| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest Pur/
Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 10/29/2025 9128285M8 6,300,000.00

UNITED STATES
TREASURY 3.125
11/15/2028

98.922 3.50% (6,232,078.13) (89,342.73) (6,321,420.86) 0.00 Purchase 10/29/2025 91282CJR3 6,300,000.00

UNITED STATES
TREASURY 3.75
12/31/2028
100.715 3.51% (6,345,035.16) (77,680.03) (6,422,715.19) 0.00 Purchase 10/29/2025 91282CPC9 6,300,000.00

UNITED STATES
TREASURY 3.5
10/15/2028
100.020 3.49% (6,301,230.47) (8,480.77) (6,309,711.24) 0.00 Purchase 10/31/2025 3137FHPJ6 3,500,000.00 FHMS K-080 A2 3.926 07/25/2028 100.313 3.73% (3,510,937.50) (11,450.83) (3,522,388.33) 0.00 Purchase 11/06/2025 13063ESC1 3,800,000.00 CALIFORNIA ST 4.35 11/01/2032 100.532 4.26% (3,820,216.00) 0.00 (3,820,216.00) 0.00 Purchase 11/14/2025 91282CPD7 7,000,000.00

UNITED STATES
TREASURY 3.625
10/31/2030

99.652 3.70% (6,975,664.06) (9,813.54) (6,985,477.60) 0.00 Purchase 11/17/2025 743315AW3 2,425,000.00 PROGRESSIVE CORP

3.2 03/26/2030 96.205 4.16% (2,332,971.25) (10,993.33) (2,343,964.58) 0.00 Purchase 11/18/2025 91282CPA3 1,500,000.00

UNITED STATES
TREASURY 3.625
09/30/2030

99.566 3.72% (1,493,496.09) (7,319.71) (1,500,815.80) 0.00 Purchase 11/20/2025 3137FMTY8 3,500,000.00 FHMS K-094 A2 2.903 06/25/2029 96.684 3.89 % (3,383,925.78) (5,362.49) (3,389,288.27) 0.00 Purchase 12/09/2025 91282CPN5 7,000,000.00

UNITED STATES
TREASURY 3.5
11/30/2030

98.867 3.75% (6,920,703.13) (6,057.69) (6,926,760.82) 0.00 Purchase 12/12/2025 3137FK4M5 1,500,000.00 FHMS K-085 A2 4.06 10/25/2028 100.238 3.90% (1,5
03,574.22) (1,860.83) (1,505,435.05) 0.00
Purchase 12/18/2025 912797ST5 6,000,000.00 UNITED STATES TREASURY 03/03/2026 99.264 3.61% (5,955,812.50) 0.00 (5,955,812.50) 0.00 Total Purchase 55,125,000.00 (54,775,644.29) (228,361.95) (55,004,006.24) 0.00 TOTAL
ACQUISITIONS 55,125,000.00 (54,775,644.29) (228,361.95) (55,004,006.24) 0.00

ATTACHMENT B

DISPOSITIONS
Maturity 10/02/2025 912797MS3 (3,500,000.00) UNITED STATES TREASURY 10/02/2025 100.000 4.22% 3,500,000.00 0.00 3,500,000.00 0.00 Maturity 10/09/2025 912797QE0 (5,250,000.00) UNITED STATES TREASURY 10/09/2025 100.000 4.29% 5,250,000.00 0.00 5,250,000.00 0.00 Maturity 10/14/2025 912797RC3 (6,000,000.00) UNITED STATES TREASURY 10/14/2025 100.000 4.10% 6,000,000.00 0.00 6,000,000.00 0.00 Maturity 11/07/2025 3135G06G3 (8,145,000.00)

FEDERAL NATIONAL

MORTGAGE
ASSOCIATION 0.5
11/07/2025
100.000 0.54% 8,145,000.00 0.00 8,145,000.00 0.00
Maturity 11/30/2025 91282CAZ4 (6,772,500.00)

UNITED STATES
TREASURY 0.375
11/30/2025
100.000 0.93% 6,772,500.00 0.00 6,772,500.00 0.00
Maturity 12/15/2025 91282CGA3 (5,000,000.00)

UNITED STATES
TREASURY 4.0
12/15/2025
100.000 4.01% 5,000,000.00 0.00 5,000,000.00 0.00
Total Maturity (34,667,500.00) 34,667,500.00 0.00 34,667,500.00 0.00 Sale 10/29/2025 91282CHT1 (6,500,000.00)

UNITED STATES
TREASURY 3.875
08/15/2033
100.313 4.73% 6,520,312.50 51,333.22 6,571,645.72 362,937.26 Sale 10/31/2025 91282CFV8 (3,500,000.00)

UNITED STATES
TREASURY 4.125
11/15/2032
101.484 3.72% 3,551,953.13 66,302.65 3,618,255.78 (30,841.93) Sale 11/12/2025 3130AVWG3 (6,1 95,000.00) FEDERAL HOME LOAN BANKS 4.0 06/10/2033 99.577 4.40% 6,168,795.15 104,626.67 6,273,421.82 124,342.13 Total Sale (16,195,000.00) 16,241,060.78 222,262.54 16,463,323.32 456,437.46 TOTAL
DISPOSITIONS (50,862,500.00) 50,908,560.78 222,262.54 51,130,823.32 456,437.46

ATTACHMENT B

IMPORTANT DISCLOSURES
City of Stockton | As of December 31, 2025
2025 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Source ICE Data I ndices, LLC (“ICE”), used with permission. ICE permits use of the ICE indices and related data on an “as is” basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providers guarantee the quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and licensee’s use it at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler asset management, or any of its products or services.

This report is provided for informational purposes only and should not be construed as a specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment.

Fixed income inv estments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates.

Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest.

ATTACHMENT B

BENCHMARK DISCLOSURES
City of Stockton | As of December 31, 2025
Benchmark Disclosure
ICE BofA 1-5 Year Gov/Corp A or
better
The ICE BofA US Issuers 1-5 Year AAA-A US Corporate & Government Index tracks the performance of US dollar denominated investment grade debt publicly issued in the US domestic market, including US Treasury, US agency, foreign government, supranational, and corporate securities. Qualifying securities must be issued from US issuers and be rated AAA through A3 (based on an average of Moody’s, S&P and Fitch). In addition, qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to final maturity at point of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for US Treasuries and $250 million for all other securities.

ICE BofA 3-Month US Treasury
Bill Index
The ICE BofA US 3-Month Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. At the end of the month that issue is sold and rolled into a newly selected issue. The issue selected at each month-end rebalancing is the outstanding Treasury Bill that matures closest to, but not beyond, three months from the rebalancing date.

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ATTACHMENT D

ATTACHMENT D
City of Stockton
Legislation Text
File #: 26-0318, Version: 1
ADOPT A RESOLUTION AUTHORIZING MARCI A. ARREDONDO, AS CITY ATTORNEY, TO

ACCEPT DEEDS AND GRANTS OF REAL PROPERTY AND INTERESTS THEREIN

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Resolution No.

STOCKTON CITY COUNCIL

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STOCKTON, AS FOLLOWS:

1. That, effective immediately, Marci A. Arredondo , City Attorney, is hereby authorized to accept deeds and grants of real property and interests therein and to consent to the recordation thereof for and on behalf of the City of Stockton.

2. That the City Clerk is hereby authorized and directed to record a copy of this Resolution with the San Joaquin County Recorder's Office.

3. That Resolution 2026-01-27-1201 adopted by the City Council January 27, 2026, is hereby rescinded effective immediately.

PASSED, APPROVED, and ADOPTED March 31, 2026 .

CHRISTINA FUGAZI
Mayor of the City of Stockton
ATTEST:

____

KATHERINE ROLAND, CMC, CPMC
City Clerk of the City of Stockton
City of Stockton
Legislation Text
File #: 26-0333, Version: 1

CONFIRMATION OF MAYORAL AND CHANCELLOR JOINT APPOINTMENT TO THE STOCKTON

CENTER SITE AUTHORITY

RECOMMENDATION
It is recommended that Council approve the confirmation of the Mayoral and Chancellor joint appointment of Kathleen Hart to Stockton Center Site Authority for a four-year term to end July 19, 2027.

Summary
The Joint Powers Agreement establishing the Stockton Center Site Authority provides that the Board is comprised of seven members, including 1 (one) member jointly appointed by the Mayor of the City of Stockton and the Chancellor of the California State University. Council Policy requires the Council to confirm the appointment.

DISCUSSION
Background
On July 20, 2023, Dr. Kathleen Hart was selected by the Chancellor to serve in the jointly appointed position. Mayoral concurrence by then Mayor Kevin Lincoln should have gone to Council for confirmation. There is no record that this action occurred.

Dr. Kathleen Hart has been actively serving as a director and is currently the Board Chair. Her term of service is scheduled to end July 19, 2027.

Present Situation
Tonight, the City Council is asked to confirm the joint appointment of Kathleen Hart to the Stockton Center Site Authority for a four-year term to end July 19, 2027.

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City of Stockton
Legislation Text
File #: 26-0342, Version: 1

APPROVAL OF CITY COUNCIL MINUTES

RECOMMENDATION
Approve the minutes from the City Council meetings of January 13, 2026, January 27, 2026, February 3, 2026, February 17, 2026, February 19, 2026, March 3, 2026, March 9, 2026 Attachment A - 2026-01-13
Attachment B - 2026-01-27
Attachment C - 2026-02-03
Attachment D - 2026-02-17
Attachment E - 2026-02-19
Attachment F - 2026-03-03
Attachment G - 2026-03-09
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City of Stockton
Legislation Text
File #: 26-0336, Version: 1
ADOPT A RESOLUTION TO ACCEPT $126,997 CALTRANS CLEAN CALIFORNIA COMMUNITY

CLEANUP AND EMPLOYMENT PATHWAY (CCEP) GRANT

RECOMMENDATION
It is recommended that the City Council adopt a resolution to:

1. Authorize the City Manager to execute a grant agreement in the amount of $126,997 with the California Department of Transportation.

2. Authorize the City Manager to appropriate grant revenues and expenditures for the Caltrans Clean California Community Cleanup and Employment Pathway (CCEP) Grant in the amount of $126,997.

It is also recommended that the City Manager be authorized to take any necessary and appropriate actions to carry out the purpose and intent of the resolution.

Summary
The Clean California Community Cleanup and Employment Pathway (CCEP) Program is administered by California Department of Transportation. The Stockton Youth Environmental Stewardship (SYES) program is a collaborative initiative led by the Environmental & Sustainability Division, in partnership with the Public Works. Building on the success of the Youth Employment Summer Success (YESS) program, SYES is designed to engage middle school youth in environmental education, civic pride, and hands-on community service. Over the grant period the program will run four cohorts, each consisting of 20 youth participants who will take part in a four- week workforce development experience. Each cohort will commence with a community cleanup activity that will allow youth to utilize their new skillsets. Participants will receive a stipend, educational training in sustainability and civic engagement, a personal tool kit including gloves, litter grabbers, and safety gear, and public recognition for their contributions. In addition, the City of Stockton will hire three Youth Environmental Leadership Assistants to gain leadership experience and provide program support.

Staff are seeking City Council’s authorization to accept the grant funding in the amount of $126,997 for the CCEP Program (Attachments A-D).

DISCUSSION
Background
The Community Cleanup and Employment Pathway (CCEP) Grant Program is a signature initiative City of Stockton Printed on 3/26/2026Page 1 of 2
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under the Clean California Program, administered by the California Department of Transportation (Caltrans). This grant program is designed to support litter abatement and public space beautification efforts on locally owned public right-of-way while creating workforce development opportunities for individuals facing barriers to employment.

Through competitive grants, the program provides funding to local agencies (including federally recognized tribal governments) to conduct targeted litter cleanup and graffiti removal activities, complemented by educational and engagement efforts that foster community pride and long-term maintenance. The program places strong emphasis on serving disadvantaged and underserved communities and encourages local commitment through participation in the Clean California Community designation pledge.

A core component of this program is the creation of employment pathways through partnerships with workforce development organizations or use of existing employment development departments.

These partnerships will connect justice-impacted individuals, those experiencing homelessness, at- risk youth, and others with meaningful job training and paid transitional employment opportunities focused on litter abatement, landscaping, and environmental stewardship.

Present Situation
Stockton, California faces persistent challenges related to urban blight, illegal dumping, and high unemployment, particularly among youth. Many neighborhoods are burdened by visible litter, neglected public spaces, and frequent instances of illegal dumping, which not only degrade the environment but also erode community morale and public safety. These conditions are especially prevalent in underserved areas, where residents often lack the resources or support to address these issues independently. The Environmental & Sustainability Division, in recognizing these challenges, has identified a critical need for programs that simultaneously address environmental degradation and youth development.

FINANCIAL SUMMARY
The City and its subcontractors will pay for project related expenses in full and then submit documentation for reimbursement through this grant. All related costs will be supported by the grant funding. No matching funds are required for this grant. An appropriation of revenue and expenditures of $126,977 is necessary in the City Manager’s Special Grants Fund - Reimbursement, General Administration Division.

Attachment A - CCEP Award Letter
Attachment B - CCEP Contract Checklist
Attachment C - CCEP Program Grant Proposal
Attachment D - CCEP Signed Memo
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ATTACHMENT A

ATTACHMENT B

ATTACHMENT C

MEMORANDUM
February 24, 2026
TO: Johnny Ford, City Manager
CC: Christine Tien, Deputy City Manager
FROM: Dale Applewhite, Program Manager Ill
Grant Kirkpatrick, Environmental & Sustainability Officer SUBJECT: Request for authorization' to submit a formal request to City Council for !!PProval of grant agreement
The City of Stockton was awarded grant funds from Caltrans Clean California Community Cleanup and Employment Pathway (CCEP) Program in the amount of $126,997.00 This grant will be used to support implementation of the Stockton Youth Environmental Stewardship (SYES) Program, an initiative that combines environmental, education, workforce development, and community beautification to engage Stockton's youth and improve neighborhood conditions citywide.

We are requesting authorization from the City Manager to submit a formal request to the City Council for approval of this grant agreement. Upon your authorization, preparations will be made to bring this before the City Council at the March 31, 2026, Council Meeting.

Upon City Council approval, the attached Restricted Grant Agreement package requires signature from the City Manager.

Concur:

J(i%1:fifte :n::ntal and Sustainability Officer
Attachments
CCEP Checklist
CCEP Restricted Grant Agreement
CCEP Grant Application.
e�

CHRISTINE TIEN
Deputy City Manager

ATTACHMENT D

Resolution No.

STOCKTON CITY COUNCIL

RESOLUTION TO ACCEPT $126,997 FROM THE C ALIFORNIA DEPARTMENT OF

TRANSPORTATION CLEAN CALIFORNIA COMMUNITY CLE ANUP AND EMPLOYMENT

PATHWAY GRANT PROGRAM

The City of Stockton (“City”) is interested in promoting youth workforce development programs, particularly those that endeavor to empower youth; and

The State of California has made funding available under the Clean California Program to support litter abatement and public space beautification efforts on locally owned public right- of-way while creating workforce development oppo rtunities for youth facing barriers to employment; and

The State of California awarded the City of Stockton a $126,997 Community Cleanup and Employment Pathway grant to build upon the success of the Youth Employment Summer Success program by engaging middle school youth in environmental education, civic pride, and hands-on community service; now, therefore,

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STOCKTON, AS FOLLOWS:

1. Authorize the City Manager to execute grant agreement with California Department of Transportation in the amount of $126,997 (Exhibit 1).

2. Authorize the City Manager to appropriate grant revenues and expenditures for the Community Cleanup and Employment Pathway grant program in the amount of $126,997.

3. The City Manager is hereby authorized to take whatever actions are necessary and appropriate to carry out the purpose and intent of this Resolution.

PASSED, APPROVED, and ADOPTED March 31, 2026 .

CHRISTINA FUGAZI
Mayor of the City of Stockton
ATTEST:

KATHERINE ROLAND, CMC, CPMC
City Clerk of the City of Stockton
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City of Stockton
Legislation Text
File #: 26-0298, Version: 1

ADOPT A RESOLUTION APPROVING JUDITH BLUMHORST AS A PUBLIC MEMBER TO THE MOSSDALE TRACT ENHANCED FINANCING DISTRICT’S PUBLIC FINANCING AUTHORITY

Summary
California Senate Bill 5 (SB5) requires Central Valley cities and counties to ensure progress toward 200-year flood protection before approving certain development projects. To comply, the cities of Lathrop, Manteca, and Stockton annually report their progress through the San Joaquin Area Flood Control Agency (SJAFCA) to the Central Valley Flood Protection Board. These reports describe funding and projects supported in part by the Mossdale Tract Enhanced Infrastructure Financing District (EIFD) to build the required flood protection, which is governed by representatives from the three cities and San Joaquin County.

The Mossdale Tract EIFD is governed by a 10-member Public Financing Authority board made up of elected officials from Lathrop, Manteca, Stockton, and San Joaquin County, along with two public members. One public member seat became vacant when Steve Dresser resigned after being elected to the Lathrop City Council. Based on the rotation system for appointments, it is now Manteca’s turn to fill the seat. After a recruitment process, Judith Blumhorst was selected as the top candidate and appointed by the Manteca City Council on April 1, 2025. Her two-year term will begin once the other participating agencies approve the appointment.

DISCUSSION
Background
California Senate Bill 5 (SB5) requires cities and counties in California’s Central Valley to ensure that certain development decisions account for a 200-year Urban Level of Flood Protection (ULOP) before approving projects. Specifically, local governments must make findings about flood protection before approving non-residential development or issuing building permits for new housing in areas without this level of protection. To meet this requirement, the Cities of Lathrop, Manteca, and Stockton have determined that they are making “Adequate Progress” toward achieving the required flood protection and submit annual reports documenting that progress to the Central Valley Flood Protection Board through the SJAFCA. These reports outline funding plans for the necessary flood improvements, including the use of the Mossdale Tract EIFD. In 2022, the City Council agreed to participate in this EIFD and its governing Public Financing Authority, which helps finance flood City of Stockton Printed on 3/26/2026Page 1 of 3
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protection improvements for the Mossdale Tract area. The authority is governed by representatives from four affected taxing entities-the cities of Lathrop, Manteca, and Stockton, and San Joaquin County-along with two public members.

The Mossdale Tract EIFD is governed by a Public Financing Authority (PFA) which consists of 10- member Board of Directors. As required by EIFD Law, two seats on the board are to be occupied by members of the public chosen collectively by the legislative body of each Affected Taxing Entity (ATE). The other eight seats are occupied by two elected representatives from each of the four ATEs (Lathrop, Manteca, Stockton and the County of San Joaquin). There is currently a vacancy for a Public Member position on the Board of Directors of the PFA. The unscheduled vacancy is due to the departure of Mr. Steve Dresser who recently became a member of the Lathrop City Council. As an elected official serving on the Lathrop City Council, Mr. Dresser is precluded from occupying the Public Member position on the PFA Board. The initial selection of Mr. Dresser was made by the City of Lathrop. The PFA Board, upon its formation, adopted a policy of recruiting public member positions in the alphabetical order of the ATE’s.

The EIFD PFA is responsible for governing the Mossdale Tract EIFD, as outlined in Government Code §53398. 50 - 55398. 88 (EIFD Law). Recruitment to fill the vacant Public Member position will be initiated by the legislative bodies of the Affected Entities in alphabetical order. Lathrop City Council appointed Mr. Dresser as the first Public Member of the EIFD PFA board. As a result, the City of Manteca is responsible for selecting the next public board member to replace Mr. Dresser in compliance with the Resolution of Intention adopted by each ATE in 2022. The appointment of a person to fill the public member position must be approved by all the ATE’s, and the two-year term will commence once these actions have been taken.

EIFD Law enables jurisdictions to consider formation of EIFDs as a means of using tax increment financing to fund a variety of eligible improvements with community-wide benefit. Improvements to strengthen public safety infrastructures for withstanding flooding with a 1-in-200 chance of occurring in any given year or Urban Level of Flood Protection (ULOP) is consistent with the community-wide benefit of flood risk reduction for Mossdale Tract.

The Mossdale Tract Area EIFD is funded from property tax increment revenues. These revenues, in conjunction with revenues from SJAFCA’s Mossdale Tract Overlay Assessment approved by property owners in June 2024 will be used to implement the flood protection improvements. The combined revenues may also be used to repay bonds issued to finance the improvements needed to achieve ULOP for the Mossdale Tract Area.

Present Situation
Through a recruitment process which included in-person interviews, the most qualified candidate was determined to be Judith Blumhorst. On April 1, 2025, the Manteca City Council adopted Resolution R2025-44 to appoint Judith Blumhorst. To complete the process, each of the remaining ATE’s must take action approving the appointment. The appointment of a person to fill the public member position must be approved by all of the ATE’s, and the two-year term will commence once these actions have been taken.

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FINANCIAL SUMMARY
There is no fiscal impact to the City with the appointment of Judith Blumhorst to fill the vacant public member seat on the Mossdale Tract EIFD Public Financing Authority.

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Resolution No.

STOCKTON CITY COUNCIL

RESOLUTION APPROVING JUDITH BLUMHORST AS A PUBLIC MEMBER TO THE MOSSDALE TRACT ENHANCED INFRASTRUCTURE FINANCING DISTRICT’S

PUBLIC FINANCING AUTHORITY

Senate Bill 5 (SB5), and related companion bills, created a new requirement for certain land use decisions made by cities and counties in the California Central Valley; and

Prior to approving discretionary land use decisions for non-residential projects, and prior to approving ministerial land use decisions (building permits) for new residential buildings in areas that don’t have an Urban Level of Flood Protection (ULOP), land use agencies are required to make findings related to the provision of 200-year ULOP; and

As part of the region’s efforts to comply with this requirement, the Cities of Lathrop, Manteca, and Stockton made findings of Adequate Progress toward the provision of 200-year ULOP and have annually validated these findings based on Annual Reports of Adequate Progress (Annual Reports) submitted to the Central Valley Flood Protection Board (CVFPB); and

Since 2018, the Annual Reports have been approved and submitted to the CVFPB by the San Joaquin Area Flood Control Agency (SJAFCA) after the Cities of Lathrop and Manteca became members of SJAFCA; and

The Annual Reports describe the financing plan and the identified funding mechanisms, including the Mossdale Tract Enhanced Infrastructure Financing District (EIFD), that are being utilized to fund and implement the improvements necessary for ULOP; and

In February 2022, the City Council adopted a Resolution of Intention to participate in the EIFD and associated Public Financing Authority (PFA) which were established to finance the construction and/or acquisition of capital improvements planned to provide an ULOP for Mossdale Tract; and

The Mossdale Tract Area EIFD has four (4) Affected Taxing Entities (ATEs) that include the City of Manteca, the City of Lathrop, the City of Stockton, and San Joaquin County, which form the 10 -member PFA governing body with each ATE having two elected members and then two at-large public members; and

The public member appointments are filled by the ATEs thr ough an alphabetical order rotation; and

It is the City of Manteca’s turn to appoint the next public member of the PFA due to a vacancy created when Mr. Steve Dresser recently was elected to the Lathrop City Council, as elected officials are precluded from occupying the public member positions; and

Following a recruitment process, the most qualified candidate was determined to be Judith Blumhorst with a term of two years after all the other ATEs have completed their concurrence with Manteca's appointment of Judith Blumhorst; and

On April 1, 2025 , the Manteca City Council adopted Resolution R2025 -44 to appoint Judith Blumhorst; now, therefore,

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STOCKTON, AS FOLLOWS:

1. Approval of Judith Blumhorst as Public Member for EIFD PFA. The City Council hereby approves Judith Blumhorst as a public member to the Enhanced Infrastructure Financing District (EIFD) Public Financing Authority (PFA), subject to confirmation by the other Affected Taxing Entities, for a period of two years after all the Affected Taxing Entities have completed their concurrence with Manteca's appointment of Judith Blumhorst.

PASSED, APPROVED, AND ADOPTED March 31, 2026 .

CHRISTINA FUGAZI
Mayor of the City of Stockton
ATTEST:

________________________________

KATHERINE ROLAND, CMC, CPMC
City Clerk of the City of Stockton
City of Stockton
Legislation Text
File #: 26-0256, Version: 1

RESOLUTION AUTHORIZING ACCEPTANCE OF GRANT FUNDS FROM THE STATE OF

CALIFORNIA BOARD OF STATE COMMUNITY CORRECTIONS, IN THE AMOUNT OF $2,000,000, FOR THE CALIFORNIA VIOLENCE INTERVENTION AND PREVENTION (CALVIP) GRANT FOR THE PERIOD JANUARY 1, 2026, THROUGH JUNE 30, 2029, AND AUTHORIZING

EXECUTION OF GRANT AGREEMENTS

RECOMMENDATION
It is recommended that the City Council approve a resolution to:

1. Authorize the City Manager to execute a grant agreement from the State of California Board of State Community Corrections, in the amount of $2,000,000.

2. Authorize the City Manager to appropriate grant revenues and expenditures in the amount of $2,000,000.

4. Authorize the City Manager, or designee, to execute and manage sub-recipient and consultant agreements in the amounts consistent with the Grant Agreement.

5. The City Manager, or designee, is hereby authorized and directed to take whatever actions are necessary and appropriate to carry out the purpose and intent of this Resolution.

Summary
In August 2025, the City of Stockton’s Office of Violence Prevention (OVP) applied to the State of California’s Board of State Community Corrections (BSCC) CalVIP Grant Program (Attachment A).

In February 2026, the City of Stockton OVP was notified by the BSCC that the application for $2,000,000 over a three-year period was approved.

DISCUSSION
Background
The California Violence Intervention and Prevention (CalVIP) Grant Program was established through the Budget Act of 2019 (Assembly Bill 74, Chapter 23, Statutes of 2019) and appropriated $136,000,000 in funding for competitive awards to cities and community-based organizations to support evidence-based violence reduction initiatives.

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On October 11, 2019, Governor Newsom signed Assembly Bill 1603 (Chapter 735, Statutes of 2019) - also known as the Break the Cycle of Violence Act - which adds Section 14130 to the California Penal Code, codifying the establishment of the CalVIP Grant and the authority and duties of BSCC in administering the program, including selection criteria for grants and reporting requirements to the Legislature.

The Break the Cycle of Violence Act specifies that the purpose of CalVIP is to “improve public health and safety by supporting effective violence reduction initiatives in communities that are disproportionately impacted by violence, particularly group-member involved homicides, shootings, and aggravated assaults.” CalVIP Grants shall be used to support, expand, and replicate evidence- based violence reduction initiatives, including but not limited to hospital-based violence intervention programs, evidence-based street outreach programs, and focused deterrence strategies.

These initiatives seek to interrupt cycles of violence and retaliation to reduce the incidence of homicides, shootings, and aggravated assaults. Further, these initiatives are primarily focused on providing violence intervention services to the small segment of the population that is identified as having the highest risk of perpetrating or being victimized by violence in the near future.

Present Situation
In February 2026, the City of Stockton OVP was notified by the BSCC that the application for $2,000,000 over a three-year period was approved. The CalVIP grant period is legislatively designated from January 1, 2026, through June 30, 2029. Given this timeframe, the BSCC requested that grant recipients execute the formal grant documents and demonstrate City Council approval and authorization for the appropriation of grant funding. In compliance with grant requirements, staff now presents the authorizing Proposed Resolution to the City Council.

This grant expands Stockton’s evidence-based violence prevention strategy by strengthening early intervention, rapid response, and coordinated family support for youth most at risk of gang and gun violence.

The initiative will embed trained outreach workers (Peacekeepers) on six Stockton school campuses to mediate conflicts, mentor youth, and intervene before violence occurs. A coordinated Family Support Team (FST) will connect youth and families to counseling, education support, and other wraparound services that address the root causes of violence. The program will also implement the 24/7 TAP-IN crisis hotline and mobile response team to provide real-time de-escalation when youth are at immediate risk of retaliation or involvement in violence.

This project builds on Stockton’s proven focused deterrence framework, which independent research found reduced shootings among participating gang members by 40% and contributed to significant reductions in homicides and recidivism. Together, these strategies will strengthen early intervention, improve family stabilization, and further reduce youth violence in Stockton.

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Partner Roles
Office of Violence Prevention (OVP) - $1,425,519
The Office of Violence Prevention (OVP) will oversee implementation of the school-based violence prevention component of the grant. One Program Supervisor will lead the initiative, supported by one full-time and two part-time Outreach Workers (Peacekeepers) who will conduct school-based engagement, mentorship, and conflict mediation.

Grant funds will also support coordination of intervention and prevention strategies across partner agencies. OVP will convene monthly strategy meetings to review new referrals, coordinate outreach efforts, and track client progress. These meetings will ensure timely information sharing, strengthen collaboration among partners, and support proactive intervention with youth at risk of violence.

Clinical Support Vendor to be Determined - $100,200
Vendor to provide comprehensive therapeutic services, beginning with in-depth intake assessments to identify each client's unique needs and circumstances. Services will include individualized therapeutic sessions and structured group therapy, guided by an evidence-based curriculum. In addition, the vendor will facilitate healing circles in response to traumatic incidents or loss of life resulting from gun and/or gang violence, fostering emotional recovery, resilience, and community support.

Choices for Freedom - $185,000
Choices for Freedom will provide meals and facilitate cognitive behavioral training groups for OVP clients ages 12-35. These groups utilize interactive journaling and structured discussions to help participants process past trauma, strengthen decision-making and self-efficacy, and develop a more hopeful and positive outlook for their future. There will be 8 CBT cohorts annually and 25 during the 36-month grant, $7,400 per cohort for a total of $185,000.

Punn Group - $25,000
Punn Group will perform grant-specified audits in accordance with the standards required.

California State University, Stanislaus - $109,981
The evaluation team will conduct a comprehensive process and outcome evaluation to measure program implementation and impact. Baseline data on homicides and gun-related crimes will be collected to establish a reference point and identify trends over time. The team will also analyze project data, submit quarterly reporting through the state grant portal, and produce evaluation reports at the beginning and end of the grant cycle to inform program effectiveness and future strategies.

KME Consulting Services - $75,000
KME Consulting Services will support three key initiatives: (1) expand the Youth Violence Prevention Steering Committee through stakeholder coordination and meeting facilitation; (2) develop and City of Stockton Printed on 3/26/2026Page 3 of 5
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implement Family Support Team Coordination Meetings to improve wraparound services; and (3) launch the TAP-In 24/7 crisis response line, including workflows, training, and outreach. These efforts will strengthen infrastructure, improve coordination, and expand access to timely violence prevention and intervention services, 75,000 for 42 months.

Mora Learning Institute (MLI) - $54,000
The Mora Learning Institute will provide leadership training from a healing lens while also providing a 40-hour Life Coaching certification for Outreach Workers, and emotional intelligence.

UC Davis Staff Development - $25,300
UC Davis will create and facilitate training for OVP and community partners. The training will focus on trauma, case management, and conflict mediation.

FINANCIAL SUMMARY
There are no impacts to the General Fund or any unrestricted funds. Grant structure is reflected in the table below. To account for the grant funds, the following appropriation in FY 2026-27 is necessary:
• Revenue appropriation of $2,000,000 to the FY 2026-27 CalVIP Grant in the OVP’s Special Grants Fund, Reimbursements, Office of Violence Prevention Division. • Expenditure appropriation of $2,000,000 to the FY 2026-27 CalVIP Grant in the OVP’s Special Grants Fund, Reimbursements, Office of Violence Prevention Division.

See Attachment B - CalVIP Cohort 5 Budget Narrative for further description and breakdown of grant funds.

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Attachment A - CalVIP August 2025 Application
Attachment B - CalVIP Cohort 5 Budget Narrative
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BSCC Powered by Submittable
Title City of Stockton
by Lindsay Brown in California Violence Intervention &
Prevention (CalVIP) Grant Program - Cohort 5
[email protected]
08/18/2025
id. 51400024
Original Submission 08/18/2025
CalVIP Cohort 5 checked
Key Information The CalVIP Cohort 5 proposal (i.e., application for funding) is divided into five sections as identified below: Applicant Information Contact Information Program Information Proposal Narrative and Budget Mandatory Attachments Each section has a series of questions that require a response. Applicants will be prompted to provide written text, select options from a drop-down menu, select options from a multiple- choice menu, or upload attachments. Questions with a red asterisk require responses. Applicants will not be able to submit the application until all questions with a red asterisk have been completed. Narrative sections in this application include a character counter. This feature shows the number of characters used and the remaining number of characters before the limit is met. If the limit is exceeded, a red prompt will appear with the message "You have exceeded the character limit." Characters include all alpha/numeric characters, punctuation, and spaces. Applicants will not be able to submit the CalVIP Proposal until they comply with all character limit requirements. Applicants may reference the CalVIP Cohort 5 Grant Request for Proposals for background information, key dates, rating factors, and other important information to aid in the completion of the CalVIP Grant proposal. The Request for Proposals packet is available on the BSCC Website at CalVIP Grant. . IMPORTANT:

Applicants may start and stop their application but must select "Save Draft" at the bottom of the application before exiting.

CONFIDENTIALITY
NOTICE:

All documents submitted as a part of the California Violence Intervention And Prevention Grant proposal are public documents and may be subject to a request pursuant to the California Public Records Act. The BSCC cannot ensure the confidentiality of any information submitted in or with this proposal. (Gov. Code, § 6250 et seq.)

SECTION I -

APPLICANT

INFORMATION
This section requests information about the applicant's name, location, mailing address, and tax identification number.

Name of Applicant City of Stockton
Is the Applicant a
Fiscal Sponsor?
NO
Applicant's Physical
Address
425 North El Dorado St.

Stockton
Ca
95202
US

37.957125
-121.2917038

ATTACHMENT A
Applicant's Mailing
Address (If different
than physical address)
Mailing Address for
Payment
425 North El Dorado St.

Stockton
Ca
95202-1951
US

37.957125
-121.2917038
Employer Identification
Number (EIN) or
Taxpayer Identification
Number (TIN)
94-60000436

SECTION II -

CONTACT

INFORMATION
This section requests contact information for the individuals identified as the Project Director, Financial Officer, Day-to-Day Project Contact, Day-to-Day Fiscal Contact, and the Authorized Signature.

Project Director Lora
Larson
Project Director's Title Office of Violence Prevention Director Project Director's
Physical Address
425 North El Dorado St.

Stockton
Ca
95202
US

37.957125
-121.2917038
Project Director's
Email Address
[email protected]
Project Director's
Phone Number
+12099375614
Financial Officer Ana
Contreras
Financial Officer's Title Program Manager II
Financial Officer's
Physical Address
425 North El Dorado St.

Stockton
Ca
95377
US

37.957125
-121.2917038
Financial Officer's
Email Address
[email protected]
Financial Officer's
Phone Number
+12099375416
Day-To-Day Program
Contact
Lindsay
Brown

ATTACHMENT A
Day-To-Day Program
Contact Title
Management Assistant
Day-To-Day Program
Contact Email Address
[email protected]
Day-To-Day Program
Contact Phone Number
+12099377013
Day-to-Day Fiscal
Contact
Ana
Contreras
Day-to-Day Fiscal
Contact Title
Program Manager II
Day-to-Day Fiscal
Contact Email Address
[email protected]
Day-to-Day Fiscal
Phone Number
+12099375416
Name of Authorized
Officer
William
Crew
Authorized Officer's
Title
Interim City Manager
Authorized Officer's
Physical Address
425 North El Dorado St.

Stockton
Ca
95202
US

37.957125
-121.2917038
Authorized Officer's
Email Address
[email protected]
Authorized Officer's
Phone Number
+12099378212
Authorized Officer
Assurances
checked

SECTION III -

PROGRAM

INFORMATION
**IMPORTANT** It is critical that the Applicant refer to the CalVIP Cohort 5 Request for Proposals when completing each section of this Application. This section requests a Proposal Summary and Funding Application Category selection.

Title of the Proposed
Project
Stockton Safe Pathways Initiative: Prevent, Intervene, Transform Project

ATTACHMENT A
Proposal Summary The Stockton Office of Violence Prevention (OVP) will launch the Stockton Safe Pathways Initiative: Prevent, Intervene, Transform, a public-health–driven strategy to reduce youth gang and gun violence in Stockton’s highest-risk neighborhoods.

Prevention embeds trained Peacekeepers in schools and community hubs to build trust, mentor youth, and strengthen protective factors. Intervention rapidly responds to violence, mediates conflicts, and provides intensive case management to those at greatest risk. Transformation addresses root causes through trauma-informed supports, family engagement, education and employment pathways, and community- based healing.

Funding Information Please refer to the CalVIP Cohort 5 Request for Proposals when completing each section of this Application. The CalVIP ESC chose to distribute the available funding across seven applicant categories, as shown below. Applicants within each category will compete independent of the other categories. Eligible applicants may submit only one proposal. 1. Eligible Large Cities (cities with populations of 400,000 or more may apply for up to $5 million). 2. Eligible Large Counties (counties with populations of 700,000 or more may apply for up to $5 million). 3. Eligible Medium and Small Cities (cities with populations under 400,000 may apply for up to $2million). 4. Eligible Medium and Small Counties (counties with populations under 700,000 may apply for up to $1 million). 5. Eligible tribal governments may apply for up to $3million. 6.

Eligible Community-Based Organizations (CBOs)-Large Scope Project (may apply for up to $5 million). 7. Eligible Community- Based Organizations (CBOs)-Small Scope Project (may apply for up to $1 million). The descriptions of Applicant Categories are paraphrased on this form. Please see pages 15-21 of the CalVIP RFP for the full descriptions of Applicant Categories.

Applicant Category:

Select One
Eligible Medium or Small City
Yes, we are interested
in Supplemental
Funding for Mental
Health Services and
Support
checked

SECTION IV -

PROPOSAL

NARRATIVE AND
BUDGET
This section requests responses to the Rating Factors identified in the the California Violence And Intervention Prevention Application Instruction Packet.

ATTACHMENT A
Proposal Narrative
Instructions
*IMPORTANT* It is critical that the Applicant refer to the CalVIP Cohort 5 Request for Proposals when completing each section. The Proposal Narrative must address the Project Need, Project Description, Project Organizational Capacity and Coordination, and Project Data Collection and Evaluation as described in the Request for Proposals (Pages 37-43). A separate narrative response is required for each Rating Factor as described below: The Project Need narrative may not exceed 4,474 total characters (alpha/numeric characters, punctuation, and spaces). In Microsoft Word, this is approximately 2 (two) pages in Arial 12-point font with one-inch margins on all four sides and at 1.5-line spacing. The Project Description narrative may not exceed 11,185 total characters (alpha/numeric characters, punctuation, and spaces). In Microsoft Word, this is approximately 5 (five) pages in Arial 12-point font with one- inch margins on all four sides and at 1.5-line spacing. The Project Organizational Capacity and Coordination narrative may not exceed 6,711 total characters (alpha/numeric characters, punctuation, and spaces). In Microsoft Word, this is approximately 3 (three) pages in Arial 12-point font with one-inch margins on all four sides and at 1.5-line spacing. The Project Data Collection And Evaluation narrative may not exceed 4,474 total characters (alpha/numeric characters, punctuation, and spaces). In Microsoft Word, this is approximately 2 (two) pages in Arial 12-point font with one-inch margins on all four sides and at 1.5-line spacing. A character counter is automatically enabled that shows the number of characters used and the remaining number of characters before the limit for each response met. If the limit is exceeded, a red prompt will appear with the message "You have exceeded the character limit." Applicants will be prohibited from submitting the CalVIP Grant Application until they comply with the character limit requirements.

Project Need 1.1 Project Target Area/Population
Stockton is a city of 325,000 people in the San Joaquin Valley. According to the most recent FBI Uniform Crime Reporting (UCR) data released in 2023, Stockton ranks among the top 10 most dangerous cities in California due to its high rates of violent crime (FBI UCR, 2023). The Stockton Police Department Crime Analysis Section (SPD-CAS) reported 54 homicides and 113 non-fatal shootings in the city in 2024; of these, 16 homicides and 31 non-fatal shootings were gang-related. Stockton has more than 80 documented gang sets, predominantly Asian, Black and Northern Hispanic. The SPD-CAS tracks gun violence to identify precise hotspots and predict the days and times that violence is most likely to occur.

The Stockton Office of Violence Prevention’s (OVP) CalVIP Cohort 5 project will target youth who are at high risk of perpetrating or being victimized by community gun violence due to persistently challenging social and economic conditions. The 2025 San Joaquin County Public Health Community Health Needs Assessment highlights persistent poverty (22–33%), low high school graduation rates (63–72%), high birth rates (17–21 per 1,000), and elevated deaths of despair (24–31 per 100,000) in Stockton’s highest-risk neighborhoods. Deaths of despair are fatalities linked to suicide, drug overdose, and alcohol-related diseases, often driven by hopelessness, trauma, and social disconnection. These socio-economic and health disparities fuel gun and gang violence by pushing youth toward gangs, limiting educational and economic opportunities, and compounding trauma, substance use, and mental health challenges. Addressing these interconnected issues is essential to breaking cycles of violence and building safer, healthier communities.

1.2 Supporting Data and Information
The OVP data indicates that from 2022 to present, youth have been involved in at least 13% of all homicides citywide, either as victims or suspects. Given that youth under 18 represent only 27% of the city’s population, their overrepresentation in both roles signals an alarming trend.

The SPD-CAS documented 252 youth victims and 39 youth arrests related to gun violence in 2024, and as of June this year there have been 93 victimizations and 28 arrests, including four youth killed and three identified as suspects.

ATTACHMENT A
Lodi Unified School District has three middle schools and two high schools in north Stockton with very high rates of violence on campus. Among the three middle schools during the 2023-24 school year (Christa McAuliffe, Delta Sierra, and Morada with total enrollment of 1,990), there were 270 suspensions for violence with injury, 168 for violence without injury, and 15 for weapons on campus (EdData). Students transition to two high schools, Ronald E. McNair and Bear Creek, which are both struggling with gang recruitment according to school administrators. Between the two high schools in 2023-24 (total enrollment 3,593), there were 106 suspensions for violence with injury, 157 for violence without injury, and 11 for weapons on campus (EdData). In a district of 50 schools, these five schools were responsible for 32% of suspensions for violence with injuries that year.

1.3 Community Needs and Service Gaps
Currently there is an informal agreement that when there is a threat of violence or an incident occurs on a school campus, school officials contact OVP to respond.

Expanding OVP’s presence on school campuses and efforts to prevent gang involvement by youth have become urgently pressing needs.

In addition, OVP has held focus groups with youth clients and determined that connecting with youth in middle and high schools and providing confidential crisis support in emerging situations are gaps that need to be addressed.

Successful focused deterrence requires building trust and strengthening relationships among law enforcement, public agencies, community-based organizations, and the community. OVP’s strategy incorporates a nationally recognized community-police trust-building initiative (Lawrence, 2019).

During the CalVIP Cohort 4, OVP supported the creation of a Youth Violence Prevention Steering Committee (YVPSC) of agencies and nonprofits that now work together to address youth violence. The YVPSC has also identified the need to build safer communities by providing safety and services for families and connecting with youth before they are recruited into gangs.

Project Description 2.1 Project Strategy and Intervention The Stockton Office of Violence Prevention (OVP) will implement the Stockton Safe Pathways Initiative: Prevent, Intervene, Transform, a multi-tiered, trauma-informed public health approach to reduce youth gang and gun violence. Together, the integrated strategies described below create a full pathway of prevention, intervention, and transformation for youth and families impacted by violence in Stockton.

Identification, Engagement, and Service Delivery
Youth participants will be identified through referrals from multiple sources including school personnel, OVP staff, local law enforcement, probation, child welfare, and community-based organizations. OVP will formalize on-campus engagement through Memoranda of Understanding (MOUs) with Lodi Unified School District (LUSD) and high-risk schools in other districts to ensure that the most vulnerable and high-risk students are identified and prioritized for support.

Once identified, youth will be engaged through direct, relationship-based outreach by trained violence prevention professionals and credible messengers with lived experience. Youth will receive mentorship, life planning, and trauma-informed case management and will be offered immediate alternatives to violence and gang involvement.

All services will be individualized, confidential, and provided with respect for the youth

ATTACHMENT A
and their families. Individual assessments will guide service planning to ensure that support is tailored to each youth’s unique risk factors, strengths, and goals. Services will also extend to families, recognizing that youth involvement in gang violence is often a learned behavior shaped by household and/or community dynamics.

Key Components

1. School-Based Violence Intervention
Peacekeepers will be embedded initially on the campuses of two high schools, three middle schools, and one alternative school in north Stockton. Serving as trusted adult mentors and violence interrupters, Peacekeepers will help shift learned patterns of violence by modeling positive behaviors, fostering supportive relationships with youth, and teaching practical, non-violent strategies to handle conflicts and challenging situations. Their responsibilities will include:
● Conducting outreach and relationship-building with high-risk students ● Mediating campus conflicts before they escalate
● Providing intensive case management that incorporates trauma recovery and life skills
● Providing off campus violence prevention support as well as intensive case management for families interested in services
● Coordinating family engagement and support services
This embedded model will ensure a continuous presence and proximity to youth, fostering trust while addressing the root causes of violence, such as unaddressed trauma, unmet needs, and peer pressure at the school site level. By being consistently present on campus, Peacekeepers will serve as a natural deterrent to violence simply through their visibility and engagement. Over time, their relationships with students and staff will help create a safer school climate.

2. Coordinated Care – Family Support Team (FST)
For families seeking help for their youth, navigating the systems of support can be overwhelming and confusing. Too often, families searching for resources to address violence-related risks also face other challenges tied to the social determinants of health, such as housing instability, food insecurity, behavioral health needs, or limited access to positive opportunities. Many get lost in the shuffle of multiple agency referrals, delaying the help their youth urgently need. To address this gap, the initiative will integrate a Family Support Team (FST) model to serve as a coordinated, one-stop resource for families in Stockton. Regardless of which agency or program a family first turns to for help, they can be referred to a FST meeting to have their needs holistically assessed and be connected to appropriate, wraparound services.

The multidisciplinary FST will be modeled after California’s Child and Family Team (CFT) meetings used in the child welfare system. The FST will meet regularly to review referrals for youth experiencing complex challenges, assess the needs of both the youth and family, and identify the appropriate community agencies to provide support; families will be invited to attend these meetings where an action plan will be developed. Following the FST, families will be directly connected to the identified community agencies to ensure timely and coordinated support.

The FST will be overseen and co-facilitated by OVP and the Stockton Youth Violence Prevention Steering Committee, ensuring the inclusion of community voices, cross- agency coordination, and culturally responsive care planning.

3. Real-Time Crisis Response
Many youth at risk for gang involvement or retaliatory violence face critical moments where a single decision can change the trajectory of their lives. These moments can occur outside of school hours, in the evenings, or on weekends, times when traditional support systems are unavailable. Without immediate intervention, conflicts can escalate rapidly, leading to violence, arrests, or even loss of life. To address this urgent gap, OVP will fully implement the Talk to A Peacekeeper (TAP-IN) program, a

ATTACHMENT A
24/7 hotline and mobile response team staffed by trained violence prevention professionals. This resource will provide immediate, trauma-informed intervention to youth experiencing pressure to commit acts of violence, become gang-involved, or engage in retaliation. TAP-IN will offer real-time phone-based de-escalation and, when needed, in-person mobile response for conflict mediation and stabilization.

This strategy is modeled after California’s Family Urgent Response System (FURS), a statewide, trauma-informed hotline and mobile response program that has proven effective in reducing law enforcement involvement by providing rapid, community- based intervention and support. OVP is planning to pilot this program in the fall of 2025 in anticipation of full implementation through Cohort 5.

4. Community-Based Prevention and Empowerment
Lasting violence reduction requires more than intervention at moments of crisis; it demands consistent community engagement that builds trust, strengthens social connections, and creates visible alternatives to violence.

Recognizing this, OVP, in partnership with the Stockton Youth Violence Prevention Steering Committee, will coordinate quarterly community engagement events in neighborhoods heavily impacted by gun violence. Youth will be identified and invited for leadership opportunities to help design and produce the events.

These events will provide safe, prosocial spaces for youth and families, promote nonviolence through education, storytelling, and healing circles, and center youth voices in shaping local violence prevention strategies. They will also increase the visibility and trust of credible messengers and city services, fostering stronger relationships between residents, community leaders, and service providers.

2.2 Project Efficacy
This project builds upon the established success of Stockton’s focused deterrence strategy, which has contributed to significant reductions in gun violence since its implementation.

OVP’s evidence-based, focused deterrence approach was evaluated in a 2023 study by Dr. Anthony Braga and colleagues published in Criminology & Public Policy in July 2024. The study found that Stockton Ceasefire significantly reduced violence, lowering the risk of treated gang members being shot by 40% and cutting overall recidivism by 25%. It also contributed to a 30% drop in monthly homicides during active periods and showed positive spillover effects for associates of treated individuals.

The report attributed this success to strong leadership, close collaboration between law enforcement and community partners, and consistent, data-driven management.

The findings showed that focused deterrence also contributed to improving overall community safety.

The CalVIP Cohort 5 program will integrate strategies from proven models such as FURS and the Office of Juvenile Justice and Delinquency Prevention (OJJDP) Comprehensive Gang Model. These evidence-based approaches improve participant engagement, reduce violent incidents, and increase service linkage. OVP’s use of data to monitor program fidelity, case outcomes, and behavioral indicators ensures continuous improvement and accountability throughout the grant period.

2.3 Participant Engagement
The program is specifically designed to reach individuals who are traditionally underserved by conventional systems, such as youth at imminent risk of gang involvement, disengaged students, and families experiencing cycles of trauma or instability.

ATTACHMENT A
Overcoming Barriers to Access
Embedding Peacekeepers directly on school campuses will allow the team to engage youth where they are, eliminating transportation, stigma, and access challenges. For youth and families experiencing acute safety threats, OVP will offer emergency relocation services and crisis response through the TAP-IN hotline, ensuring immediate access to safety and stabilization. Bilingual staff, culturally competent providers, and trusted credible messengers will reduce mistrust and improve access to services among historically marginalized populations.

Sustained Engagement
Peacekeepers will build long-term, trust-based relationships with participants through consistent presence, mentorship, and conflict mediation on and off campus. Youth will be incentivized to remain engaged through stipends, wellness retreats, and enrichment activities such as field trips and leadership opportunities. Family involvement will be integrated through wraparound services and case planning meetings. These strategies will promote relational consistency, reinforce accountability, and ensure that youth are not lost to follow-up.

Tailored Services
Each participant will receive individualized case management informed by ongoing risk/needs assessments conducted by Peacekeepers. Services will be tailored based on a Life Plan collaboratively developed with the youth and their caregivers, focusing on behavioral health, education, family dynamics, and economic opportunity.

Supports may include Cognitive Behavioral Therapy (CBT) groups, therapy referrals, employment coaching, transportation, or housing stabilization.

Through this personalized, trauma-informed, and relationship-centered approach, the program will ensure that even the most disconnected youth can be successfully engaged, stabilized, and supported toward long-term safety and opportunity.

The Stockton Office of Violence Prevention brings over 25 years of experience providing intensive case management to high-risk youth and families impacted by violence. This expertise ensures that all services are delivered with proven strategies, deep community knowledge, and a strong commitment to helping youth successfully disengage from violence and build stable, positive futures.

Project Organizational
Capacity and
Coordination

3.1 Fiscal and Administrative Capacity and Accountability The City of Stockton manages many multi-million dollar grants simultaneously.

Stockton OVP has participated in almost every CalVIP cohort and has developed a system for fiscal administration of this grant, following the city’s protocols for setting up and managing funding streams through the city’s procurement department.

Funded through Measure A, OVP’s team includes 14 full-time staff: eight Peacekeepers, two supervisors, and four management and administrative roles. Staff carry intentionally small caseloads to allow for intensive, high-quality client support, and participate in weekly case reviews and case conferences, which are grounded in a performance dashboard built using the Apricot case management system by Social Solutions. This tool enables real-time tracking of client progress in areas such as housing, employment, education, and family wellness.

OVP meets weekly with the Stockton Police Department (SPD) to review citywide shootings and coordinate outreach to individuals impacted by violence. OVP also maintains a formal Memorandum of Understanding with San Joaquin General Hospital through which SPD’s Watch Commander notifies the on-call Peacekeepers of gang- related hospitalizations. Peacekeepers respond immediately to provide conflict mediation, bedside support, and safety planning, which is a model that has been in place for over a decade.

ATTACHMENT A
Subcontractors for CalVIP Cohort 5 may include cognitive behavioral therapists, hosts and presenters for weekend retreats, and hosts for events. These will be selected through a request for qualifications to ensure they meet grant qualifications and have the capacity to fulfill the contract successfully. The 50% pass-through does not apply to this application, as we are an Office of Violence Prevention.

OVP has extensive experience providing violence intervention services to the target population through a continuum of care that includes violence interruption, street outreach, 24/7 crisis response, hospital-based intervention, and support groups incorporating Cognitive Behavioral Therapy (CBT). Clients are connected to credible messengers (Peacekeepers) trained in conflict resolution, mentoring, and trauma- informed case management. The program prioritizes individuals at the highest risk of being involved in violence with recent justice involvement, histories of victimization, housing instability, and exposure to chronic trauma.

3.2 Cultural Relevance and Credibility
All of the schools targeted have student populations that are 50-80% Asian and/or Hispanic. OVP staff demographics mirror demographics of our target population; many are formerly justice system-involved and many members of the staff have been with the City of Stockton doing community violence intervention and prevention for 8 to 25 years. Additional staff will be hired to reflect student demographics and OVP will partner with community-based organizations in north Stockton to ensure that families are connected to trusted, culturally competent providers.

3.3 Training and Expertise
Through UC Davis, OVP staff are trained in case management, human development, managing secondary trauma, and theories of change in order to understand what it takes to help people change behavior. OVP has used previous CalVIP funding to build capacity with training on emotional intelligence, Real Colors, generational communication, and leadership. Staff expertise has been cultivated to the point where it has just been documented and published into a curriculum for use with incoming participants.

All OVP staff members are paid according to industry standards. Wellness support includes optional weekly reflective supervision with a therapist, monthly wellness events for staff together as team building and an opportunity to process, and celebrations for special personal events like birthdays.

3.4 Coordination and Partnership
As a backbone agency, OVP leads the Youth Violence Prevention Steering Committee (YVPSC), a cross-sector coalition of government agencies, community- based organizations, schools, and clergy. The committee meets monthly to coordinate service delivery, strengthen cross-agency referrals, and close systemic service gaps for families impacted by violence. Its diverse membership ensures that prevention and intervention strategies are both comprehensive and culturally responsive, addressing the complex root causes of youth violence.

The YVPSC was established during the CalVIP Cohort 4 grant cycle and now represents a network of more than 50 youth-serving agencies across the city.

Members include county agencies such as Probation, Public Health, Behavioral Health Services and Child Welfare Services, and CBOs such as Community Partnership for Families, Concrete Development Inc., Empowering Marginalized Asian Communities (EMAC), Asian Pacific South-Development And Residential Association (APSARA), El Concilio, Community Medical Centers, Amelia Ann Adams While Life Center and Reinvent South Stockton Coalition.

The Committee plays a central role in identifying gaps in Stockton’s violence prevention ecosystem and is evolving into a hub for receiving and coordinating community referrals for youth and families impacted by violence, working toward solutions one family at a time.

ATTACHMENT A
For this grant cycle, the YVPSC will expand its efforts by overseeing the Family Support Team (FST) referral system. The FST will convene regularly to assess referrals, identify risk factors and needs, and match youth and families to the most appropriate service providers.

This work will be facilitated through the Child Family Team (CFT) case consultation model, which is grounded in the Signs of Safety framework (Turnell & Edwards, 1999) and California’s Structured Organized Practice (SOP) model. These approaches foster shared accountability, reduce service fragmentation, and support trauma- informed, collaborative care planning for high-risk youth and their families.

In addition, the YVPSC will: 1) provide consultation for the T.A.P.-IN crisis response system to ensure services are timely, youth-centered, and culturally responsive; 2) lead community-based violence prevention events to educate, engage, and mobilize neighborhoods most impacted by gun and gang violence; and 3) identify service gaps and strengthen interagency collaboration to improve access to high-quality resources.

Together, this integrated community-rooted structure will embed real-time crisis response, coordinated care, and long-term healing into Stockton’s public health approach to reducing youth gang and gun violence.

Project Data Collection
And Evaluation

4.1 Data and Evaluation Management
To ensure effective tracking of implementation fidelity, service delivery, and participant outcomes, the Stockton Office of Violence Prevention (OVP) will continue to partner with the San Joaquin Community Data Co-Op (Data Co-Op) as its third- party evaluator. The Data Co-Op has supported evaluation for OVP’s CalVIP Cohort 4 project and has already developed and refined systems for CalVIP grant data tracking, reporting, and continuous quality improvement. Their extensive experience with the population served, as well as their familiarity with the local violence prevention landscape, positions them to successfully manage Cohort 5’s data and evaluation needs.

Evaluation activities will be integrated throughout all phases of the project:
● Start-Up Phase: The Data Co-Op will collaborate with OVP leadership to review the Project Workplan, prepare the Local Evaluation Plan (LEP), refine performance indicators, integrate new data fields into Apricot (OVP’s case management system), and establish evaluation timelines aligned with grant reporting deadlines. Initial data will be collected to establish benchmarks for the project. ● Implementation Phase: The evaluation team will conduct regular data reviews, generate real-time insights, and participate in coordination meetings to support effective program delivery and mid-course corrections.
● Service Delivery Phase: Client-level data, pre/post surveys, and case documentation will be monitored continuously to assess outcomes such as service engagement, protective factor increases, and reductions in violent incidents. ● Close-Out Phase: The Data Co-Op will produce a comprehensive Local Evaluation Report (LER) that details process findings, outcome achievements, and recommendations for replication and sustainability.

The Data Co-Op will also compile and submit quarterly data reports aligned with grant reporting requirements, ensuring timely, accurate submission and performance accountability.

4.2 Tracking and Monitoring
OVP utilizes Apricot as its primary case management and performance tracking platform. All frontline Peacekeepers and program staff are trained in standardized data entry and outcome documentation. Apricot dashboards allow for real-time

ATTACHMENT A
performance monitoring, and data is regularly reviewed in collaboration with the evaluation team to ensure accuracy and completeness.

The evaluation plan is designed to assess both the implementation quality and impact of the project across the three core goals outlined in Attachment B. The data points for each objective will be tracked and monitored monthly and reported to the state quarterly throughout the grant period. In addition, OVP will establish MOUs with participating school districts to formalize data-sharing agreements that enable the tracking of violence-related suspensions and on-campus conflict incidents.

Process Evaluation
The Data Co-Op will conduct a thorough process evaluation to assess fidelity to the original program design. Key components will include:
● Peacekeeper deployment and school-based engagement
● TAP-IN system functionality and response timeliness
● Interagency coordination through the Youth Violence Prevention Steering Committee and Family Support Teams
● Quality and timeliness of referrals
● Client and partner satisfaction (gathered via structured surveys and interviews) Continuous Learning and Improvement
Quarterly coordination meetings between OVP leadership, Peacekeepers, and the evaluation team will support real-time data reflection, quality improvement, and problem-solving. These learning loops will ensure that the project remains responsive to client needs and aligned with grant goals.

Local Evaluation Report (LER)
Upon project conclusion, the Data Co-Op will develop a detailed LER according to grant guidelines that addresses:
● Whether the program met its stated goals
● Measurable improvements in school safety, youth and family stability, and service access
● How results compare to original benchmarks
● Lessons learned to inform replication and sustainability The LER will serve as a critical tool for informing OVP’s strategic direction and long- term efforts to reduce violence in Stockton.

OPTIONAL:

Bibliography
Project Budget Attachment (Attachment A)
CalVIP-Cohort-5-Budget-Attachment-Final.xlsx
Project Budget and
Budget Narrative
Instructions
Applicants are required to submit a Project Budget and Budget Narrative (Budget Attachment). The Budget Attachment will be rated as Rating Factor, Section 5. The Budget Attachment must be filled out completely and accurately. Applicants are solely responsible for the accuracy and completeness of the information entered in the Project Budget and Budget Narrative Excel document. The Project Budget must cover the entire grant period. For additional guidance related to grant budgets, refer to the BSCC Grant Administration Guide. The Budget Attachment is provided as a stand- alone Excel document on the BSCC Website here: CalVIP Grant.

ATTACHMENT A

SECTION V - OTHER

MANDATORY

ATTACHMENTS
This section lists the attachments that must be uploaded at the time of submission (in addition to the Project Budget). Required forms for completion and uploading are located on the BSCC CalVIP Website here: CalVIP Grant CalVIP Cohort 5 Project Work Plan (RFP Attachment B) CalVIP Cohort 5 Criteria and Assurance for NGOs and Independent Contractors that Receive BSCC Grant Funds as a Subcontractor (RFP Attachment C) CalVIP Cohort 5 Certification of Compliance with BSCC Policies on Debarment, Fraud, Theft, and Embezzlement (RFP Attachment D) CalVIP Cohort 5 Governing Board Resolution or Signing Authority Documentation (RFP Attachment Sample E)
Project Work Plan (Attachment B)
FINAL_ATTACHMENT-B-CalVIP-Cohort-5-Project-Work-Plan.docx Criteria and Assurance for Non-Governmental Organizations that Receive BSCC Funds as a Subcontractor (Attachment C)
Attachment_C_-_Criteria_and_Assurance_for_Non-
Governmental_Organizations_that_Receive_BSCC_Funds_as_a_Subcontractor-SIGNED-08.18.25.pdf Certification of Compliance with BSCC Policies on Debarment, Fraud, Theft, and Embezzlement (Attachment D)
Attachment_D_-
_Certification_of_Compliance_with_BSCC_Policies_on_Debarment_Fraud_Theft_and_Embezzlement- SIGNED-08.18.25.pdf
OPTIONAL: Governing
Board Resolution or
Signing Authority
Documentation
(Attachment E)

ATTACHMENT A
Grant Funds
$956,360
$323,319
$289,281
$0
$285,200
$144,720
$1,120
$0
$2,000,000
Grant Funds
$21,960
$45,000
$443,492
$317,844
$97,512
$97,512
$0
$0
$956,360
Grant Funds
$7,200
CITY & COUNTY APPLICANTS - IMPORTANT - PLEASE READ:
* There is a mandatory 50% pass-through requirement for City and County Applicants. Be sure to denote these funds clearly in the budget table.

Authorizing statute requires that all city and county grantees pass through at least 50 percent (50%) of the grant funds they receive to one or more of the following; •Non-governmental, community-based organizations (show these funds in the NGO Subcontractors line item) •Public agencies that are not law enforcement whose primary mission is violence prevention or community safety (show these funds in the Public Agency Subcontracts line item •Tribal governments (show these funds in the NGO Subcontractors line item) City of Stockton- Office of Violence Prevention
2a. Services and Supplies

3. Professional Services/Independent Contractors

5. Non-Governmental Organization (NGO) Subcontractors Providing Direct Services Name of Applicant:

4. Public Agency Subcontractors
Budget Line Item
1 100% FTE Program Supervisor requested at $84,304 annual salary + $59,179 benefits + 3% COLA every year. The Program Supervisor will oversee day-to-day program operations, supervise the Outreach Workers, and report directly to the Program Director. This role ensures the smooth execution of program activities.

Year 1: $143,483 (Salary: $84,304.06 + Benefits: $59,179) Year 2: $147,787.49 (Salary and Benefits: $143,483 + 3%: $4,304.49) Year 3: $152,221.1 (Salary and Benefits: $147,787.49+ 3%: $4,433.62) 1 100% FTE Outreach Workers requested at $101,530 annually with benefits + 5% step increase every year. The Outreach Worker position is focused on school aged clients and are responsible for direct client engagement, including maintaining consistent contact with participants, attending court as needed, connecting clients to community resources, providing mentorship, coordinating transportation, offering educational support, and facilitating access to clinical services. The FTE Outreach Worker will serve as a lead over the 2 PTE and follow up when they are unable to due to hour restraints while providing off-campus violence prevention support and intensive case management for families seeking services, as well as coordinating family engagement and support activities. 2 PTE Outreach Workers requested at $27.67/ hour up to 1,000hours per fiscal year= $27,670 + $4,834 benefits=$32,504 x 3 years. The Part-time outreach workers will rotate, as needed, between high-need High Schools and alternative education campuses in Stockton, identified through local data highlighting the highest indicators of gang activity and youth violence. Their responsibilities will include conducting daily outreach and building relationships with high-risk students, mediating campus conflicts before they escalate, and providing intensive case management that incorporates trauma recovery and life skills development.

8. Indirect Costs
TOTAL
Name of Services or Supplies
Example (FTE): Counselor
Program Supervisor
Outreach Worker - Step 3
Calculation for Expenditure
1b. Salaries and Benefits Narrative: Provide a brief description for each position that addresses their role on the grant project. (Show as either % FTE or Hourly Rate) & Benefits
$50/hour x 10 hours/month x 36 months = $18,000 + benefits @ 22% = $3,960 .25 FTE @ $60,000 x 3 years = $45,000
TOTAL
100% FTE @$84,304 + $59,179 (benefits) = $143,483 x 3 years +3%COLA 100% FTE @$56,398.85 + $45,131 (benefits) = $101,530 +5% step increase 2026 California Violence Intervention & Prevention (CalVIP) Grant - Project Budget and Budget Narrative Contract Term: January 1, 2026 - June 30, 2029
Impor
tant: This is not an annual budget. Applicants should develop a budget to cover the entire 42-month contract term.

Monthly Strategy Meeting
Outreach Worker(PTE)
Outreach Worker(PTE)
$200x36
Note: The top table (Budget Line Items) will auto-populate based on the information entered in the sections below. 1a. Salaries and Benefits

1. Salaries and Benefits

2. Services and Supplies
Position Title
Example (Hourly): Fiscal Manager

6. Equipment/Fixed Assets

7. Other (Travel, Staff Training, etc.)
$27.67/hour x 1,000 hours/annual= $27,670 + $4,834 benefits= $32,504 x 3 years = $97,512
$27.67/hour x 1,000 hours/annual= $27,670 + $4,834 benefits= $32,504 x 3 years = $97,512

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City Council and Concurrent AuthoritiesMarch 31, 2026

City Council and Concurrent Authorities
March 31, 2026