Agenda packet, regular meeting — Ukiah City Council, June 3, 2026 (part 2 of 2)

25 The concentration of mid-century housing contributes to observable aging patterns in exterior finishes, roofing systems, and structural components, particularly where reinvestment has been incremental.

Survey Results and Summary of Findings
Census Block Group 115.4 includes 223 surveyed residential units. Overall Condition ratings were: Sound 0; Minor 0; Moderate: 99 (44.4%); Substantial 96 (43.0%); and Dilapidated 29 (13.0%).

Condition 115.4
Sound 0
Minor 0
Moderate 99
Substantial 96
Dilapidated 29
224
Foundation conditions were predominantly stable, with 2 units (0.9%) flagged for major foundation failure/no foundation.

Foundation Condition 115.4
New (0-5) 1
Aging in Place (6-10) 173
20+ Years of Age (11-15) 48
No Foundation/Major Failure (16-25) 2
224
Roofing condition showed 140 units (62.8%) with visible conditions consistent with higher-level repair need (tarping/damaged sections, delamination/no spark arrester, or replacement).

Roof Condition 115.4
New (Score 0) 2
Weathered (Score 1-5) 35
Heavy Weathering (Score 6-10) 47
Tarped/Damaged Section (Score 11-15) 38
No Spark Arrester, Delamination (Score 16-20) 68
Needs Replacement (21-25) 34
224

Page 195 of 313 ends

26 Siding/Stucco conditions indicated 49 units (22.0%) with dry rot/separation or replacement-level deterioration.

Siding/Stucco 115.4
New (Score 0) 0
Light Weathering (Score 1-5) 58
Heavy Weathering (Score 6-10) 117
Dry Rot, Separation, Stucco Break (Score 11-15) 27
Needs Replacement (Score 16-20) 22
224
Window conditions indicated 53 units (23.8%) likely needing replacement; an additional 89 units (39.9%) showed older window systems.

Windows 115.4
New (Score 0) 0
Vinal Replacements (Score 1-4) 82
Old Aluminum/Original Wood Framing (Score 5-9) 89
Needs Replacement (Score 10) 53
224
Electrical panel observations suggest 82 instances (36.8%) where meter panel replacement may be needed. (Note: electrical tallies are observation-based and may not equal total units in areas with multi-meter configurations.)
Electrical 115.4
New (Score 0) 0
Meter Face Unidentifiable (Score 1-5) 142
Replace Meter Panel (Score 6-10) 82
224
Housing unit Construction type included 161 wood (71.9%) 0 masonry, 0 mobile, 63 (28.1%) modular, and 0 other.

Housing structure types were dominated by Single Family with Carport (72 units; 32.3%), followed by Single Family with Attached Garage (67 units; 30.0%).

Page 196 of 313 ends

27 Frontage improvements were generally present on most parcels (e.g., curbs/sidewalks/gutters/paved driveways present at 222 locations; 99.6%).

At the time of the curbside survey, 0 units were observed vacant and 0 units were posted for sale. 0 garage conversions and 0 ADUs were identified in the windshield survey of CTBG 115.4.

Page 197 of 313 ends

28 Census Tract Block Group 115.5

Page 198 of 313 ends

29 Location and Boundaries
Census Block Group 115.5 is located entirely east of the U.S. Highway 101 freeway, to the east of E.

Perkins Street, E. Gobbi Street, and Talmadge Road. Most of the Block Group is actually outside of the Ukiah city limits. Those neighborhoods in CTBG 115.5 that are inside the city limits are in the Oak Manor neighborhood, east of Highway 101, south of E. Perkins Street, north of E. Gobbi Street, and west of Washo Drive (and including those houses on the eastern side of Washo Drive). Two additional pockets of CTBG 115.5 that are inside the city limits are just south of E. Gobbi Street and south of Talmadge Road. Those pockets are commercial and industrial areas with little or no housing units. According to the new September 2025 FEMA flood maps, most of the Oak Manor neighborhood is in the 100-year floodplain (zone AE on the FEMA map).

Neighborhood Character
The Oak Manor neighborhood in Block Group 115.5 reflects a predominantly residential character with moderate density. The street network follows a traditional grid pattern. Residential uses in Oak Manor are the dominant land use.

Housing types include single-family detached homes as well as some duplexes. Compared to 115.1, this block group contains a higher proportion of single family detached units, contributing to a generally lower level of residential density by overall local Ukiah standards.

Housing Stock and Age
The housing stock in 115.5 is largely 1970s to 1980s in origin. Exterior materials commonly include stucco, wood siding, and composition roofing typical of that era.

The concentration of late 20th century housing contributes to observable aging patterns in exterior finishes, roofing systems, and structural components, particularly where reinvestment has been incremental.

Survey Results and Summary of Findings
Census Block Group 115.5 includes 289 surveyed residential units. Overall Condition ratings were: Sound 0; Minor 0; Moderate 264 (91.3%); Substantial 24 (8.3%); and Dilapidated 1.

Condition 115.5
Sound 0
Minor 0
Moderate 264
Substantial 24
Dilapidated 1
289

Page 199 of 313 ends

30 Foundation conditions were predominantly stable, with 1 unit (0.3%) flagged for major foundation failure/no foundation.

Foundation Condition 115.5
New (0-5) 63
Aging in Place (6-10) 166
20+ Years of Age (11-15) 59
No Foundation/Major Failure (16-25) 1
289
Roofing condition showed 2 units (0.6%) with visible conditions consistent with higher-level repair need (tarping/damaged sections, delamination/no spark arrester, or replacement).

Roof Condition 115.5
New (Score 0) 0
Weathered (Score 1-5) 114
Heavy Weathering (Score 6-10) 173
Tarped/Damaged Section (Score 11-15) 0
No Spark Arrester, Delamination (Score 16-20) 2
Needs Replacement (Score 21-25) 0
289
Siding/Stucco conditions indicated 27 units (9.3%) with dry rot/separation or replacement-level deterioration.

Siding/Stucco 115.5
New (Score 0) 0
Light Weathering (Score 1-5) 138
Heavy Weathering (Score 6-10) 124
Dry Rot, Separation, Stucco Break (Score 11-15) 27
Needs Replacement (Score 16-20) 0
289
Window conditions indicated 1 unit (0.3%) likely needing replacement; an additional 207 units (71.6%) showed older window systems.

Windows 115.5
New (Score 0) 0
Vinal Replacements (Score 1-4) 81
Old Aluminum/Original Wood Framing (Score 5-9) 207
Needs Replacement (Score 10) ___1
289

Page 200 of 313 ends

31 Electrical panel observations suggest 106 instances (36.7%) where meter panel replacement may be needed. (Note: electrical tallies are observation-based and may not equal total units in areas with multi-meter configurations.)
Electrical 115.5
New (Score 0) 0
Meter Face Unidentifiable (Score 1-5) 183
Replace Meter Panel (Score 6-10) __106
289
Housing unit Construction Type included 289 wood (100%); 0 masonry; 0 mobile; 0 modular, and 0 other.

Housing Structure types were dominated by Single Family with Attached Garage (195 units; 67.5% followed by Duplex (65 units; 22.5%); Multi Family (23 units; 7.9%); Single Family with Detached Garage (3 units; 1.0%) and Single Family with No Garage (2 units; 0.6%).

Frontage improvements were present on almost all parcels (e.g., curbs/gutters/sidewalks/drainage/paved driveways were present at 284 locations; 98.2%).

At the time of the curbside survey, 0 units were observed vacant and 1 unit was posted for sale. 0 garage conversions and 0 ADUs were identified in the windshield survey of CTBG 115.5.

Page 201 of 313 ends

32 Census Tract Block Group 116.1

Page 202 of 313 ends

33 Location and Boundaries
Census Block Group 116.1 is centrally located within Ukiah, positioned west of U.S. Highway 101 and generally south of Block Group 115.4. It encompasses a significant portion of the city’s established residential neighborhoods and portions of the downtown core. The block group is generally bounded by East Perkins Street to the north (with a small segment extending north to Norton Avenue), East Gobbi Street to the south, Dora Street to the west, and Orchard Avenue to the east.

This location places 116.1 within the heart of Ukiah’s urban fabric. While close to major north– south routes such as State Street and the Highway 101 corridor, much of the residential area remains buffered from direct highway frontage. The block group functions as an integral component of the city’s central residential and downtown environment.

Neighborhood Character
Block Group 116.1 is predominantly residential, with moderate to moderately high residential density relative to neighborhoods along the city’s western edge. The street layout reflects the traditional grid pattern characteristic of central Ukiah, with smaller block sizes, established sidewalks in many segments, and long-standing public infrastructure.

The housing mix includes single-family detached homes, duplexes, and a notable concentration of multi-family residential buildings. Compared to lower-density peripheral areas, 116.1 contains a higher proportion of rental housing and attached or clustered residential development, contributing to its more compact urban character.

The area is highly walkable due to its grid pattern, proximity to commercial corridors, and close access to civic amenities.

Downtown Core and Historic Railroad Area
A significant portion of 116.1 includes the downtown business district and adjacent historically significant areas. The block group contains portions of the former railroad yard between Perkins Street and Clay Street, extending toward Leslie Street and the railroad tracks to the west. This area has historically served as a commercial and transportation hub and continues to evolve through redevelopment and civic investment.

The downtown core contains a concentration of historic commercial structures, local businesses, and community-serving enterprises that contribute to Ukiah’s economic and cultural identity.

The former railroad property within this block group is also the future site of the Mendocino County Superior Court facility, representing a major civic investment in the area. Adjacent to this corridor is an access point for the Ukiah segment of the Great Redwood Trail, further reinforcing the area’s pedestrian and connectivity features.

Page 203 of 313 ends

34 Commercial and Civic Corridors
Perkins Street and Gobbi Street function as key east–west commercial corridors extending from Highway 101 into the downtown core.

Perkins Street includes retail and service uses as well as civic facilities such as the Mendocino County Library (Main Branch). This corridor provides an important connection between residential neighborhoods and downtown.

Gobbi Street contains a mix of affordable housing developments, neighborhood-serving grocery stores, and nearby county support service offices. The presence of both commercial and institutional uses along Gobbi contributes to the area’s role as a service-oriented corridor within the city.

Together, these corridors support strong walkability, access to employment, and proximity to public services.

Civic and Community Features
Due to its central location, 116.1 benefits from exceptional access to public amenities, including:
• The downtown commercial district
• The Mendocino County Library (Main Branch)
• Future Mendocino County Superior Court facility
• The rail trail corridor
• Public transit routes
• Established parks and recreational spaces nearby
• County support and service facilities
The concentration of civic and institutional uses contributes to daytime activity and reinforces the block group’s role as a mixed residential and civic district.

Housing Stock and Age
Housing stock in 116.1 primarily reflects mid-century construction, with many homes built between the 1940s and 1970s. Earlier 20th-century homes are present in portions closer to the downtown grid, while later infill and apartment development occurred in subsequent decades.

Exterior materials commonly include stucco, wood siding, and composition roofing typical of the era. Multi-family structures vary in scale, ranging from smaller duplexes to larger apartment complexes and affordable housing developments.

Given the age profile of the housing stock, observed exterior conditions often reflect cumulative aging of roofing systems, siding, and windows, particularly where preventative maintenance has

Page 204 of 313 ends

35 been deferred. The higher density and multi-family presence also influence the concentration of exterior condition observations within the block group.

Survey Results and Summary of Findings
Census Block Group 116.1 includes 632 surveyed residential units. Overall Condition ratings were: Sound: 6 (0.9%); Minor: 1 (0.2%); Moderate: 256 (40.5%); Substantial: 346 (54.7%); Dilapidated: 23 (3.6%).

Condition 116.1
Sound 6
Minor 1
Moderate 256
Substantial 346
Dilapidated 23
632
Foundations were largely classified as “Aging in Place” (539 units; 85.3%), with 34 units (5.4%) rated “New.”
Foundation Condition 116.1
New (Score 0-5) 34
Aging in Place (Score 6-10) 539
20+ Years of Age (Score 11-15) 59
No Foundation/Major Failure (Score 16-25) 0
632
Roofing showed 211 units (33.4%) with visible conditions consistent with higher-level repair need (tarping/damaged sections, delamination/no spark arrester, or replacement).

Roof Condition 116.1
New (Score 0) 2
Weathered (Score 1-5) 146
Heavy Weathering (Score 6-10) 273
Tarped/Damaged Section (Score 11-15) 76
No Spark Arrester, Delamination (Score 16-20) 124
Needs Replacement (Score 21-25) 11
632

Page 205 of 313 ends

36 Siding/Stucco conditions indicated 34 units (5.4%) with dry rot/separation or replacement-level deterioration.

Siding/Stucco 116.1
New (Score 0) 2
Light Weathering (Score 1-5) 224
Heavy Weathering (Score 6-10) 372
Dry Rot, Separation, Stucco Break (Score 11-15) 32
Needs Replacement (Score 16-20) 2
632
Window conditions indicated 278 units (44.0%) likely needing replacement; an additional 152 units (24.1%) showed older window systems.

Windows 116.1
New (Score 0) 45
Vinal Replacements (Score 1-4) 157
Old Aluminum/Original Wood Framing (Score 5-9) 152
Needs Replacement (Score 10) 278
632
Electrical panel observations suggest 259 units (41.0%) where meter panel replacement may be needed.

Electrical 116.1
New (Score 0) 12
Meter Face Unidentifiable (Score 1-5) 361
Replace Meter Panel (Score 6-10) 259
632
Housing unit Construction Type included 512 wood (100%); 4 masonry (0.6%); 2 mobile (0.3%); 114 modular (18.0%), and 0 other.

Housing Structure types were dominated by Multi-Family (391 units; 61.9%), followed by Single Family with Detached Garage (101 units; 16.0%), then Single Family with Attached Garage (81 units: 12.8%), Single Family with No Garage (44 units; 6.9%), Single Family with Carport (9 units), and Duplexes (6 units).

Frontage Improvements were generally present on most parcels (e.g., curbs/gutters/drainage/sidewalks/paved driveways present at 554 locations; 87.7%).

Page 206 of 313 ends

37 At the time of the curbside survey, 5 units were observed vacant and 1 unit was posted for sale. 3 garage conversions and 1 ADU were observed during the windshield survey of CTBG 116.1.

Page 207 of 313 ends

38 Census Tract Block Group 116.2

Page 208 of 313 ends

39 Location and Boundaries
Census Tract Block Group 116.2 is located in the south-central portion of Ukiah. The block group is generally bounded by East Gobbi Street to the north, extends south toward Talmage Road, is bordered by State Street to the west, and U.S. Highway 101 to the east.

This positioning places 116.2 along an important transitional zone between central residential neighborhoods and the Highway 101 corridor. Its eastern edge is directly influenced by highway proximity, while its western edge connects to established residential streets and neighborhoodserving commercial uses along State Street.

Neighborhood Character
Block Group 116.2 is predominantly residential, with moderate to higher residential density compared to neighborhoods farther west. The street layout reflects a combination of traditional grid patterns near State Street and more varied configurations closer to the highway corridor.

The housing mix includes:
• Single-family detached homes
• Duplexes and smaller multi-unit buildings
• Larger apartment complexes
• Affordable housing developments
Relative to other central block groups, 116.2 contains a notable concentration of multi-family residential properties and rental housing, contributing to a more compact residential environment.

The area remains highly accessible due to its proximity to major corridors, though portions nearer Highway 101 experience greater exposure to traffic-related activity.

Commercial and Corridor Influence
The block group benefits from adjacency to two major north–south transportation corridors:
• State Street, which serves as a mixed commercial and residential corridor with neighborhood-serving retail and service uses.
• U.S. Highway 101, which forms the eastern boundary and introduces highway-oriented development influences, including commercial uses and higher traffic volumes.

In addition, Gobbi Street provides an east–west commercial connection linking residential areas to Highway 101 and downtown. Along and near Gobbi Street are grocery stores, retail services, affordable housing developments, and nearby county support services.

Page 209 of 313 ends

40 The intersection of these corridors reinforces the area’s connectivity and walkability, particularly near commercial nodes.

Civic and Community Features
Due to its central-south location, 116.2 benefits from access to:
• Neighborhood-serving retail and grocery stores
• County support and service offices in the vicinity
• Public transit routes along major corridors
• Established infrastructure including sidewalks, curbs, and gutters in many segments • Connections northward to the downtown core
While primarily residential, the block group’s proximity to key corridors enhances access to civic and institutional services.

Housing Stock and Age
Housing stock within 116.2 primarily reflects mid-century development, with significant construction occurring between the 1950s and 1970s. Subsequent decades introduced additional apartment complexes and infill development, increasing overall residential density.

Exterior materials commonly include stucco, wood siding, and composition roofing typical of that era. Multi-family buildings vary in scale and design, and their maintenance cycles differ from single-family properties.

Given the age of many structures and the concentration of rental housing, exterior condition observations often reflect cumulative aging of roofing systems, siding materials, windows, and exterior finishes. Proximity to highway and commercial corridors may also influence wear patterns on structures located along higher-traffic streets.

Page 210 of 313 ends

41 Survey Results and Summary of Findings
Census Tract Block Group 116.2 includes 472 surveyed residential units. Overall condition ratings were: Sound: 0 (0.0%); Minor: 1 (0.2%); Moderate: 251 (53.2%); Substantial: 211 (44.7%); Dilapidated: 9 (1.9%).

Condition 116.2
Sound 0
Minor 1
Moderate 251
Substantial 211
Dilapidated 9
472
Foundation conditions showed that the majority of units, 378 were aging in place (80.0%) and 86 units (18.2%) were in the new category.

Foundation Condition 116.2
New (0-5) 86
Aging in Place (6-10) 378
20+ Years of Age (11-15) 8
No Foundation/Major Failure (16-
25) 0
472
Roofing showed 121 units (25.6%) with visible conditions consistent with higher-level repair need (tarping/damaged sections, delamination/no spark arrester, or replacement).

Roof Condition 116.2
New (Score 0) 1
Weathered (Score 1-5) 203
Heavy Weathering (Score 6-10) 147
Tarped/Damaged Section (Score 11-15) 76
No Spark Arrester, Delamination (Score 16-20) 45
Needs Replacement (21-25) 0
472

Page 211 of 313 ends

42 Siding/stucco conditions indicated 40 units (8.5%) with dry rot/separation or replacement-level deterioration.

Siding/Stucco 116.2
New (Score 0) 2
Light Weathering (Score 1-5) 232
Heavy Weathering (Score 6-10) 198
Dry Rot, Separation, Stucco Break
(Score 11-15) 37
Needs Replacement (Score 16-20) 3
472
Window conditions indicated 119 units (25.2%) likely needing replacement; an additional 184 units (39.0%) showed older window systems.

Windows 116.2
New (Score 0) 2
Vinal Replacements (Score 1-4) 167
Old Aluminum/Original Wood Framing (Score 5-9) 184
Needs Replacement (Score 10) 119
472
Electrical panel observations suggest 70 units (14.8%) where meter panel replacement may be needed.

Electrical 16.2
New (Score 0) 1
Meter Face Unidentifiable (Score 1-5) 401
Replace Meter Panel (Score 6-10) 70
472
Construction type included 469 units with wood frames, 1 masonry, 2 mobile, 0 modular, and 0 other.

Housing structure types were dominated by Multi-Family (221 units; 46.8%), followed by Single Family with Attached Garage (137 units; 29.0%).

Frontage improvements were generally present on most parcels (e.g., curbs/gutters/drainage/paved driveways present at 365 locations; 77.3%).

At the time of the curbside survey, 3 units were observed vacant and 4 units were posted for sale. 0 Garage conversions and 2 ADUs were observed in the windshield survey of CTBG 116.2

Page 212 of 313 ends

43 Census Tract Block Group 116.3

Page 213 of 313 ends

44 Location and Boundaries
Census Block Group 116.3 occupies the southernmost portion of the City of Ukiah. The block group lies south of Talmage Road and extends toward the southern city limits. It is generally bordered by U.S. Highway 101 to the east, with residential neighborhoods extending westward toward established local streets and transitional edges of the city.

This positioning places 116.3 at the interface between developed residential neighborhoods and more commercially oriented and transitional land uses along the city’s southern boundary. Its proximity to Highway 101 strongly influences circulation patterns, land use configuration, and development intensity within the block group.

Neighborhood Character
Block Group 116.3 reflects a mixed character, combining residential neighborhoods with significant commercial, business park, and light industrial uses. While residential parcels remain concentrated in the northern portions of the block group, the southern and western segments transition into larger-scale commercial and employment-generating uses.

Residential density is moderate and includes:
• Single-family detached homes
• Duplexes and small multi-unit structures
• Select multi-family apartment complexes
Compared to Block Groups 116.1 and 116.2, 116.3 reflects less downtown influence and a stronger presence of business and commercial land uses. Residential pockets are interspersed among light industrial and commercial properties, particularly near corridor edges.

A dominant feature within this census block group is the Ukiah Municipal Airport, which occupies much of the southwestern portion of the block group. The airport significantly shapes surrounding land use patterns and limits residential development intensity in adjacent areas.

Another major feature is the Redwood Business Park in the southeastern portion of the block group. This area contains large-format retail establishments and regional commercial uses, including major retailers such as Costco, Walmart, FoodMaxx, and associated commercial businesses. These uses contribute to employment opportunities and regional shopping activity but also create distinct commercial concentrations separate from the residential neighborhoods to the north.

The City’s completion of Phase 4 of the Rail Trail has extended an off-street multi-use path through portions of this block group, improving pedestrian and bicycle access between residential areas,

Page 214 of 313 ends

45 commercial centers, and business park uses. This infrastructure investment enhances connectivity and provides alternative transportation access within an otherwise corridordominated environment.

Corridor and Access Influence
The eastern boundary along Highway 101 provides strong regional accessibility but also introduces corridor-related influences, including:
• Increased traffic volumes along adjacent streets
• Highway-oriented commercial development near interchange areas • Transitional land uses between residential neighborhoods and transportation infrastructure Talmage Road and other east–west connectors provide important access between central Ukiah and southern commercial and employment areas. The combination of highway frontage and commercial nodes reinforces the block group’s role as a regional gateway area within the city.

Civic and Community Features
While less directly embedded within the downtown core than Block Group 116.1, 116.3 benefits from:
• Proximity to grocery stores and large-format retail
• Employment opportunities within the Redwood Business Park • Public transit routes along major corridors
• The Rail Trail extension improving multimodal connectivity • Established infrastructure in many residential segments The block group serves both residential households and regional commercial activity, creating a blended residential–employment district within the city’s southern boundary.

Housing Stock and Age
Housing within 116.3 reflects a mix of mid-century development and later infill construction. A significant portion of the housing stock was constructed between the 1950s and 1980s, with additional apartment development occurring in subsequent decades.

Exterior materials commonly include stucco and wood siding, with composition roofing typical of the era. Compared to older central neighborhoods, some housing in 116.3 reflects later-era subdivision or corridor-adjacent development patterns.

Page 215 of 313 ends

46 Given the age distribution of the housing stock, observed exterior conditions often reflect gradual weathering of roofing systems, siding materials, windows, and exterior trim. Properties located near major corridors or commercial nodes may exhibit additional wear associated with traffic exposure and environmental factors.

Survey Results and Summary of findings
Census Block Group 116.3 includes 489 surveyed residential units. Overall Condition ratings were: Sound: 97 (20.6%); Minor: 13 (2.7%); Moderate: 255 (54.2%); Substantial: 101 (21.5%); Dilapidated: 4 (0.8%).

Condition 116.3
Sound 97
Minor 13
Moderate 255
Substantial 101
Dilapidated 4
470
The Foundation Condition data showed that the foundations of the majority of units in CTBG 116.3 (458 units or 97.4%) were in relatively good condition and 0 with no foundation or major failure.

Foundation Condition 116.3
New (Score 0-5) 256
Aging in Place (Score 6-10) 202
20+ Years of Age (Score 11-15) 12
No Foundation/Major Failure (Score 16-25) 0
470
Roofing showed 8 units (1.7%) with visible conditions consistent with higher-level repair need (tarping/damaged sections, delamination/no spark arrester, or replacement).

Roof Condition 116.3
New (Score 0) 64
Weathered (Score 1-5) 312
Heavy Weathering (Score 6-10) 86
Tarped Damaged Section (Score 11-15) 4
No Spark Arrester, Delamination (Score 16-20) 2
Needs Replacement (Score 21-25) 2
470

Page 216 of 313 ends

47 Siding/stucco conditions indicated 11 units (2.3%) with dry rot/separation or replacement-level deterioration.

Siding/Stucco 116.3
New (Score 0) 64
Light Weathering (Score 1-5) 359
Heavy Weathering (Score 6-10) 36
Dry Rot, Separation, Stucco Break (Score 11-15) 6
Needs Replacement (Score 16-20) 5
470
Window conditions indicated 116 units (24.7%) likely needing replacement; an additional 208 units (44.3%) showed older window systems.

Windows 116.3
New (Score 0) 64
Vinal Replacements (Score 1-4) 82
Old Aluminum/Original Wood Framing (Score 5-9) 208
Needs Replacement (Score 10) ____116
470
Electrical panel observations suggest 58 units (12.3%) where meter panel replacement may be needed.

Electrical 116.3
New (Score 0) 64
Meter Face Unidentifiable (Score 1-5) 348
Replace Meter Panel (Score 6-10) ____58
470
Housing unit Construction type included 470 wood, 0 masonry, 0 mobile, 0 modular and 0 other.

Housing Structure types were dominated by Multi-Family (345 units; 73.4%), followed by Single Family with No Garage (62 units; 12.9%).

Frontage improvements were generally present on most parcels (e.g., curbs/gutters/drainage/paved driveways present at 462 locations; 98.3%).

At the time of the curbside survey, 5 units were observed vacant and 0 units were posted for sale. 2 garage conversions and 2 ADUs were observed in the windshield survey of CTBG 116.3.

Page 217 of 313 ends

48 7. Comparative Analysis
Compared to the 2008 Housing Condition Survey, the 2026 findings reflect more moderate and substantial condition ratings within designated low- to moderate-income census block groups rather than broadly distributed conditions across citywide zones. While many neighborhoods continue to exhibit routine aging consistent with the natural lifecycle of residential structures, the cumulative effects of deferred maintenance over the past 18 years—combined with economic constraints, rising costs of construction materials, and increased demand and pricing for skilled labor needed to perform preventative maintenance—have contributed to more pronounced deterioration. Weathering (i.e. sun exposure, heat, storms) has further accelerated material aging in older housing stock.

Some differences between the 2008 and 2026 findings may also be attributed to updates in survey standards and methodology. The 2026 survey incorporated HCD-approved modifications designed to provide clearer, more practical tools for field surveyors and to improve consistency and objectivity in exterior scoring.

A further distinction is the survey approach. The 2008 study evaluated housing conditions citywide using a sampling method within each geographic zone. In contrast, the 2026 survey conducted a comprehensive curbside assessment of every residential unit within the designated low- to moderate-income census block groups. This shift from sample-based analysis to full population surveying provides a more precise and data-driven understanding of housing conditions in LMI neighborhoods.

One recommendation of this report is to expand the comprehensive survey methodology to the remaining areas of the City, should funding allow. Conducting a citywide assessment would provide a more complete understanding of overall housing conditions, strengthen neighborhoodlevel comparisons, and support broader long-term housing policy, rehabilitation prioritization, and application of resources to improve housing conditions citywide.

8. Priority Identification Framework
Based on the structural scoring analysis and block group-level condition data, Census Track Block Groups were categorized according to overall condition trends, concentration of moderate-tosubstantial deterioration, and presence of aging housing stock.

Priority classifications are intended to guide strategic deployment of available funding sources, including Community Development Block Grant (CDBG) programs and other state or federal housing rehabilitation resources.

High Priority
Census Block Groups identified as High Priority demonstrate:

Page 218 of 313 ends

49 • Higher average structural scores
• Greater concentration of Moderate, Substantial, or Dilapidated units • Aging housing stock with deferred maintenance patterns • Concentrations of multi-family or rental housing with observable exterior deterioration Recommended Funding Sources to Assist with Needed Improvements These areas would benefit from targeted CDBG-funded rehabilitation programs, including:
• Owner-occupied rehabilitation assistance
• Emergency repair programs
• Accessibility and aging-in-place modifications
• Façade or exterior improvement initiatives
• Potential leveraging of HOME, CalHome, or state housing preservation funds Strategic, block group-level targeting may allow for visible neighborhood improvement and more efficient deployment of limited funding resources.

Moderate Priority
Moderate Priority areas demonstrate:
• Generally stable housing stock
• Concentrations of minor to moderate deterioration
• Aging materials approaching replacement thresholds
These neighborhoods are at risk of gradual decline if preventative maintenance is deferred.

Recommended Funding Alignment:
• Preventative maintenance assistance programs
• Small repair grants or low-interest rehabilitation loans • Energy-efficiency upgrades
• Educational outreach on maintenance and modernization Proactive intervention in Moderate Priority areas can prevent progression into higher-cost rehabilitation categories.

Stable / Low Priority
Stable or Low Priority areas reflect:
• Lower average structural scores
• Higher proportion of Sound or Minor classifications
• Evidence of ongoing maintenance and reinvestment

Page 219 of 313 ends

50 While these areas may not require concentrated intervention, they should remain eligible for citywide housing programs on an as-needed basis.

Recommended Funding Alignment:
• Continued citywide eligibility for rehabilitation programs • Monitoring through future survey cycles
• Inclusion in infrastructure or neighborhood improvement planning

9. Key Findings
The 2026 Housing Condition Survey indicates that Ukiah’s housing stock within the designated lowto moderate-income Census Tract Block Groups remains largely functional but exhibits varying levels of age-related deterioration.

Findings suggests:
• Structural scores are most influenced by roofing age, siding deterioration, and window modernization status.
• Mid-century housing (1940s–1970s) constitutes the majority of surveyed units, contributing to consistent aging patterns across multiple block groups. • Areas with higher concentrations of multi-family housing demonstrate more clustered moderate-to-substantial exterior deterioration.
• Highway-adjacent and corridor-influenced areas show slightly elevated exterior wear patterns consistent with age and environmental exposure.

10. Recommendations
Based on the findings of the 2026 Housing Condition Survey, the following recommendations are proposed:

Target Rehabilitation Funding in High Priority Areas
Direct CDBG and related housing rehabilitation resources toward Census Block Groups with the highest concentration of Moderate and Substantial deterioration. Targeted investment will allow the City to:
• Address the most pressing structural deficiencies
• Prevent further deterioration
• Stabilize neighborhoods with aging housing stock
Block group-level targeting may increase program efficiency and measurable impact.

Promote Preventative Maintenance in Moderate Areas

Page 220 of 313 ends

51 Implement preventative maintenance programs in Moderate Priority areas to slow progression of deterioration. This may include:
• Minor repair grants
• Low-interest loan programs
• Roof replacement assistance
• Energy-efficiency modernization support
Early intervention reduces long-term rehabilitation costs.

Conduct Housing Condition Assessments at Regular Intervals Continue conducting comprehensive housing condition surveys at ten to 15-year intervals.

Regular assessments allow the City of Ukiah to:
• Track long-term condition trends
• Measure the impact of rehabilitation investments
• Identify emerging deterioration patterns
• Strengthen funding applications with current data
If funding allows, expanding future surveys citywide (beyond LMI block groups) would provide a more comprehensive understanding of overall housing conditions.

Make use of the data in this 2026 report in the implementation of future updates of the City’s Housing Element.

Use Block Group-Level Data to Guide Strategic Funding Applications Leverage detailed census block data to:
• Support competitive grant applications
• Align rehabilitation programs with demonstrated need
• Strengthen compliance with Housing Element objectives • Improve program design and outcome tracking
Data-driven planning enhances transparency, defensibility, and funding competitiveness.

11. Appendices
• Appendix I – Housing Conditions Survey Instrument Form

Page 221 of 313 ends

52 Appendix 1

Page 222 of 313 ends

ATTACHMENT 4
RESOLUTION NO. 2026-__

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF UKIAH ACKNOWLEDGING

ACOMPLISHMENTS AND CONFIRMING ACTIVITY COMPLETION OF COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) PLANNING ACTIVITY: CITY OF UKIAH HOUSING

CONDITIONS SURVEY
WHEREAS, on June 15, 2022, the City Council adopted Resolution 2022-41 authorizing the submittal of a State Community Development Block Grant (CDBG) application in response to the 2022 CDBG Notice of Funding Availability (NOFA) issued by the State Department of Housing and Community Development (HCD); and
WHEREAS, the City was awarded $99,689.00 in State CDBG funds for Standard Agreement 22- CDBG-PL-20038 for the “City of Ukiah Housing Conditions Survey” and executed the Standard Agreement on September 8, 2023; and
WHEREAS, the project has been completed, grant activity funds have been expended, and the City has been approved for reimbursement of $99,689 by HCD for all project Activity expenses.

WHEREAS, the State CDBG program requires that City staff present a report on project accomplishments and performance after the project has been completed; and WHEREAS, the State CDBG program requires the City Council to conduct a public hearing to receive public comment and adopt a Resolution acknowledging accomplishments, confirming activity completion, and confirming approval of reimbursement of all grant funds from HCD requested by the City through Standard Agreement 22-CDBG-PL-20038.

NOW, THEREFORE, BE IT RESOLOVED as follows:

1. The City Council of the City of Ukiah has reviewed the activity staff report and acknowledges the project accomplishments, which include the completion of the “City of Ukiah Housing Conditions Survey”;

2. The City Council confirms activity completion;

3. The City Council confirms that the City has been approved for reimbursement of the grantrelated funds from the State and is ready to close out standard agreement 22-CDBG-PL20038.

THE FOREGOING RESOLUTION WAS ADOPTED at a regular meeting of the City Council of the City of Ukiah held on the 3rd day of June, 2026, by the following roll call vote.

AYES:

NOES:

ABSTAIN:

ABSENT:
_______________________________
Susan Sher, Mayor

Page 223 of 313 ends

STATE OF CALIFORNIA
City of Ukiah
ATTEST:

I, Kristine Lawler, City Clerk of the City of Ukiah, State of California, hereby certify the above and foregoing to be a full, true, and correct copy of a resolution adopted by said City Council on this 3rd day of June, 2026.

Kristine Lawler, City Clerk
of the City of Ukiah of the State of California
By: _______________________________

Page 224 of 313 ends

Page 1 of 2 ends

Agenda Item No: 14.a.

MEETING DATE/TIME: 6/3/2026

ITEM NO: 2026-970

AGENDA SUMMARY REPORT
SUBJECT: Presentation by PFM Asset Management LLC Regarding the City’s Investment Portfolio and Consideration of Revisions to the City’s Investment Policy.

DEPARTMENT: Finance PREPARED BY: Dan Buffalo, Finance Director PRESENTER: Allison Kaune, PFM Asset Management
ATTACHMENTS:

1. Quarterly Investment Report - CITY OF UKIAH CALIFORNIA - 20260331_final

2. PFMAM Presentation to Ukiah_City_Council_June 2026

3. Ukiah_Investment Policy Approved 5-21-25_REVIEW 2026

4. Ukiah IP 2026 Review Memo_final
Summary: The City Council will receive a presentation from PFM Asset Management LLC (“PFM”) regarding the performance and composition of the City’s investment portfolio for the quarter ended March 31, 2026, including current market conditions and economic outlook. Council will also consider proposed revisions to the City’s Statement of Investment Policy recommended as part of the annual policy review process.

Background: The City of Ukiah contracts with PFM Asset Management LLC (“PFM”), an independent investment advisor, to assist with management of the City’s investment portfolio and to provide periodic reporting and annual review of the City’s Statement of Investment Policy. PFM also provides market analysis, portfolio strategy recommendations, and ongoing compliance monitoring with applicable provisions of the California Government Code.

PFM annually reviews the City’s Investment Policy to ensure continued compliance with California Government Code sections governing the investment of public funds. As part of the 2026 annual review, PFM evaluated recent statutory changes enacted through Senate Bills 595, 858, 827, and 852 and provided recommendations regarding updates to the City’s Investment Policy.

The proposed revisions to the Investment Policy are primarily technical and statutory in nature and include:
• Extending the allowable maturity limit for eligible commercial paper from 270 days to 397 days, consistent with recent amendments to Government Code Section 53601; and • Updating references related to the sunset date associated with zero-interest accrual federal securities investments from January 1, 2026, to January 1, 2031.

PFM also noted recent changes to state law related to training requirements for local agency officials and Political Reform Act filing procedures, though those changes do not require revisions to the City’s Investment Policy at this time.

Attachment 4 includes PFM’s memorandum summarizing the annual policy review process, recent changes to California Government Code affecting public agency investments, and PFM’s recommended revisions to the City’s Investment Policy.

Page 225 of 313 ends

Page 2 of 2 ends

The revised Investment Policy is included as Attachment 3, which includes notations on what is changing per PFM's recommendation.

Discussion: PFM will provide the City Council with an overview of the City’s investment portfolio and economic environment for the quarter ended March 31, 2026. Topics expected to be discussed include:
• Current market conditions and interest rate trends;
• Federal Reserve monetary policy;
• Geopolitical and inflationary pressures affecting fixed income markets; • Portfolio allocation and diversification;
• Investment performance relative to benchmark indices; and • Portfolio compliance with the City’s Investment Policy.

As of March 31, 2026, the City’s investment portfolio had a total market value of approximately $20.74 million, with a portfolio yield at market of 4.14% and an average credit quality of AA.

The portfolio remained diversified among U.S. Treasuries, corporate securities, asset-backed securities, agency CMBS, and municipal holdings. Portfolio performance for the trailing one-year period was 4.19%, outperforming the benchmark return of 3.75%.

The quarterly investment report is included as Attachment 1, and the presentation materials prepared by PFM are included as Attachment 2.

Recommended Action: Receive the presentation from PFM Asset Management LLC regarding the City’s investment portfolio and adopt the revised Statement of Investment Policy.

BUDGET AMENDMENT REQUIRED: N/A
CURRENT BUDGET AMOUNT: N/A
PROPOSED BUDGET AMOUNT: N/A
FINANCING SOURCE: N/A
REVENUE: No GRANT: No
PREVIOUS CONTRACT/PURCHASE ORDER NO.: N/A
COORDINATED WITH: PFM Asset Management LLC
STRATEGIC PLAN (SP): N/A
GENERAL PLAN ELEMENTS (GP): N/A

Page 226 of 313 ends

Investment Performance Review
For the Quarter Ended March 31, 2026
Client Management Team PFM Asset Management A division of U.S. Bancorp Asset Management, Inc Monique Spyke, Managing Director
Allison Kaune, Relationship Manager
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 UKIAH, CALIFORNIA
Attachment
1

Page 227 of 313 ends

PFM Asset Management | pfmam.com
Economic Update
2 Attachment
1

Page 228 of 313 ends

Current Market Themes
Source: Details on market themes and economic indicators provided throughout the body of the presentation. Bloomberg Finance L.P., as of March 31, 2026. ▸ Geopolitics has overtaken U.S. macro fundamentals as the market’s primary focus ▹ Conflict in Iran has increased near-term inflation risks due to higher commodity prices▹ Unemployment rate remains stable with net new job creation near zero▹ Consumer spending and business investment continue to support growth, though momentum is slowing
▸ The Federal Reserve paused during both meetings in Q1, keeping rates at 3.50-3.75% ▹ The median “dot plot” projection continues to show one 25 basis point cut in 2026, though individual projections showed less easing
▹ Fed Chair Powell acknowledged the path forward is complicated by geopolitical uncertainty, making it more difficult for the Fed to balance its dual mandate ▸ Rising front-end yields unwound the inversion in the Treasury curve ▹ Rate cut expectations were pushed further out, lifting front-end yields ▹ Escalating Middle East conflict drove a spike in volatility ▹ Credit spreads widened from historically tight levels amid heavy supply and geopolitical pressure

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Market Update
PFM Asset Management | pfmam.com
3 Attachment
1

Page 229 of 313 ends

Source: Bloomberg Finance L.P., as of March 31, 2026. Market implied inflation expectations shown using 1-year and 5-year inflation swaps. ▸ Closure of the Strait of Hormuz creates a
supply shock
▹ Higher oil prices pressure agricultural
and industrial inputs
▹ Duration of price shock more important
than magnitude
▸ Federal Reserve likely to remain on hold as
it assesses evolving risks
▹ Headline inflation expected to rise
though uncertainty remains regardingpassthrough to core inflation and labormarkets ▹ Fed to look through supply-side energy
shock if inflation expectations remainanchored
44%
61%
55%
34% 32%
0%
25%50%75%
Brent Crude
$96.79
Nat. Gas (Eur)
€55.28
Urea Ammonia Polyethylene
Price Change of Energy Commodities*
Since February 27

3.2%
2%3%
4%
Jan25 Apr-25 Jul-25 Oct-25 Jan-26
Hundreds
Forward Inflation Expectations
January 1, 2025 to March 31, 2026
1-year 5-year
*Brent Crude are quoted in dollars per barrel based on t he front-month futures contract. Natural gas
prices are quoted in euros per megawatt-hour. Ammonia, and urea prices are based on the front-month exchange-traded futures contract. Polyethylene is price are based on the active exchange-tradedfutures contract.

Market Pricing Conflict In Iran

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Market Update
PFM Asset Management | pfmam.com
4 Attachment 1

Page 230 of 313 ends

Source: FOMC Chair Jerome Powell Press Conference, March 18, 2026. Bureau of Labor Statistics and Bloomberg Finance L.P. CPI Inflation as of February 2026 and Unemployment Rate as of March 2026. Survey responses after March 27, 2026, included in mean and forecast range for CPI Inflation and Unemployment Rate. Shading represents the central 80% of the forecasts.

Fed Chair Powell: “What we have is some tension between the goals, and we’re trying to manage our way through it.”
Macro Data Takes a Back Seat
2Q26

3.3% 4Q26

3.1%
2Q27

2.2%
Feb ‘26

2.4%
1%2
%
3 %
4%5%6%
Mar-23 Mar-24 Mar-25 Mar-26 Mar-27
CPI Inflation (YoY)
Mean Forecast Actual
2Q26

4.5%
4Q26

4.5%
2Q27
Mar ‘26 4.4%

4.3%
3%4
%
5 %
Mar-23 Mar-24 Mar-25 Mar-26 Mar-27
Unemployment Rate
Mean Forecast Actual

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Market Update
PFM Asset Management | pfmam.com
5 Attachment 1

Page 231 of 313 ends

Fed Chair Powell: “[I]f we have a long period of much higher gas prices, that is going to weigh on consumption… Meanwhile, the economy is solid… It’s just we don't know what the effects of this will be.” U.S. Growth Forecasts Remain Steady
-0.6%

3.8%

4.4%

0.5%

2.4%

1.8% 1.9% 2.0%
-6%-4%-2%
0%2%4%6%8%
2025Q1 2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 2026Q3 2026Q4 U.S. Real GDP Contributors and Detractors
Personal Consumption Fixed InvestmentPrivate Inventories Net ExportsGov't Expenditures Forecast Range Forecast Median
Source: FOMC Chair Jerome Powell Press Conference, March 18, 2026. Bloomberg Finance L.P. and Bureau of Economic Analysis, as of December 2025 (left). Survey responses after March 27, 2026, included in Median and forecast range. Shading represents the central 80% of the forecasts (right).

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Market Update
PFM Asset Management | pfmam.com
6 Attachment 1

Page 232 of 313 ends

Fed Chair Powell: “We feel like the framework calls to balance the risks. We feel where we are now is on the higher borderline of restrictive versus not restrictive, we feel like that is the right place to be.” 2026 2027 2028
The Latest Fed “Dot Plot”
Longer Term
1 cut 1 cut 0 cuts 3.1%
For the Quarter Ended March 31, 2026
Market Update
Fed Participants’ Assessments of ‘Appropriate’ Monetary Policy 5%
4%
3%
2%
1%
0%

CITY OF UKIAH, CALIFORNIA
PFM Asset Management | pfmam.com
Source: FOMC Chair Jerome Powell Press Conference, March 18, 2026. 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 March 2026. 7 Attachment 1

Page 233 of 313 ends

Source: Bloomberg Finance L.P., as of March 31, 2026.

Treasury Yields Reach 8-Month High
For the Quarter Ended March 31, 2026
Market Update

3.00%

3.25%

3.50%

3.75%

4.00%
Dec-25 Jan-26 Feb-26 Mar-26
2-Year U.S. Treasury Yield
December 31, 2025 – March 31, 2026
Feb 5th
Weak labor
market data
+42 bps
Feb 28th– March 31st
U.S. and Israeli strikes In
Iran result in the closure of
the Strait of Hormuz
Jan 9th
Unemployment rate
beats expectations
and falls to 4.4%
PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
8 Attachment 1

Page 234 of 313 ends

Source: Bloomberg Finance L.P., as of March 31, 2026.

3.67%

3.79%

3.94%

4.13%

4.32%

4.91%

3.00%3.50%4.00%4.50%5.00%5.50%
Yield
Maturity
U.S. Treasury Yield Curve
1 Year RangeMarch 31, 2026December 31, 2025
3mo 2yr 5yr 7yr 10yr 20yr 30yr
Treasury Yields Rise Across the Curve

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Market Update
PFM Asset Management | pfmam.com
9 Attachment
1

Page 235 of 313 ends

Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. As of March 31, 2026. 1-5 Year Indices
Fixed-Income Index Total Returns in 1Q 2026

3.86% 3.95%

4.53% 4.66%

5.08%
0%2%4%6%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
1-Year Return

0.19% 0.35%

0.63%

0.14% 0.08%
0%2%4%6%
U.S. Treasury
Agency
ABS
Corp A-AAA
Corp BBB
First Quarter 2026 Returns

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Market Update
PFM Asset Management | pfmam.com
10 Attachment 1

Page 236 of 313 ends

PFM Asset Management | pfmam.com
Portfolio Review:

CITY OF UKIAH, CALIFORNIA
11 Attachment
1

Page 237 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
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 March 31, 2026, the account(s) managed by PFM Asset Management ("PFMAM") 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. 12 Attachment
1

Page 238 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Snapshot
Yield and duration calculations exclude cash and cash equivalents. Sector allocation includes market values and accrued interest.The portfolio’s benchmark is the ICE BofA 1-3 Year U.S. Treasury 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.

1. Portfolio Snapshot - CITY OF UKIAH, CALIFORNIA¹
Credit Quality - S&P
15%
42% 43%
8%
57%
35%
0%
20%40%60%
0-1 Yr 1-2 Yrs 2-3 Yrs
Portfolio Benchmark
Duration Distribution
U.S. Treasury | 42%Corporate | 29%
ABS | 19%Agency CMBS | 10%
Municipal | <1%
Sector Allocation
AAA | 14%AA+ | 52%AA | 1%AA- | 4%A+ | 8%A | 7%A- | 6%
BBB+ | 2%Not Rated | 6%
Portfolio Statistics
Portfolio Effective DurationBenchmark Effective Duration Portfolio Credit Quality
Yield At Market
Yield At Cost
Total Market Value
Securities Sub-TotalCash
$20,738,708.57
$20,561,811.96
$138,713.44
$38,183.17

1.79 years1.76 years

4.14%4.04%
AA
Accrued Interest
13 Attachment
1

Page 239 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Characteristics
$0.0$4.2$8.4
$12.6$16.8$21.0
Millions
March 2026
$0.0$4.2$8.4
$12.6$16.8$21.0
Millions
December 2025
$0.0$4.2$8.4
$12.6$16.8$21.0
Millions
September 2025
$0.0$4.2$8.4
$12.6$16.8$21.0
Millions
June 2025
Sector Allocation Review - CITY OF UKIAH, CALIFORNIA
U.S. Treasury 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.

Security Type Jun-25 % of Total Sep-25 % of Total Dec-25 % of Total Mar-26 % of Total U.S. Treasury $8.6 43.1% $9.2 45.5% $9.0 43.9% $8.6 41.8% Agency CMBS $2.2 11.2% $2.1 10.6% $2.1 10.5% $2.0 9.6%
Municipal $0.1 0.4% $0.1 0.4% $0.1 0.4% $0.1 0.4%Negotiable CD $0.4 2.0% $0.2 0.8% $0.2 0.7% $0.0 0.0%Corporate $4.7 23.8% $4.8 23.7% $5.4 26.4% $6.0 29.1% ABS $3.9 19.5% $3.8 19.0% $3.7 18.1% $3.9 19.1%
Total $20.0 100.0% $20.2 100.0% $20.4 100.0% $20.6 100.0% 14 Attachment
1

Page 240 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Portfolio Activity - CITY OF UKIAH, CALIFORNIA
Net Activity by Sector
($ millions)
U.S. Treasury
Agency CMBS
Negotiable CD
ABS
Corporate
U.S. Treasury
Agency CMBS
Negotiable CD
ABS
Corporate
($3.0) ($2.0) ($1.0) $0.0 $1.0 $2.0 $3.0
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 ActivityCorporate $612,395
ABS $240,976
Negotiable CD ($155,326)
Agency CMBS ($166,050)
U.S. Treasury ($311,237)Total Net Activity $220,758
Sales/Maturities Purchases
15 Attachment
1

Page 241 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Performance

1. 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 December 31, 1997.2. 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 the ICE BofA 1-3 Year U.S. Treasury Index. Source: Bloomberg Financial LP.

0.0%1.0%2.0%3.0%4.0%5.0%
Return
Portfolio Benchmark
Portfolio Performance - CITY OF UKIAH, CALIFORNIA
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 YearsInterest Earned² $204,768 $834,661 $2,457,337 $3,035,667 $6,003,563 Change in Market Value ($128,523) $270 $431,813 ($762,001) ($713,581) Total Dollar Return $76,245 $834,931 $2,889,150 $2,273,666 $5,289,982 Total Return³
Portfolio 0.37% 4.19% 4.50% 2.24% 2.17%Benchmark⁴ 0.29% 3.75% 4.04% 1.86% 1.78% 3 Months 1 Year 3 Years 5 Years 10 Years
16 Attachment
1

Page 242 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Performance

1. The lesser of 10 years or since inception is shown. Performance inception date is December 31, 1997.2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.3. Realized gains / (losses) are shown on an amortized cost basis.

Accrual Basis Earnings - CITY OF UKIAH, CALIFORNIA
Accrual Basis EarningsInterest Earned²Realized Gains / (Losses)³Change in Amortized CostTotal Earnings 3 Months
$204,768
$26,462
$7,906
$239,136
1 Year
$834,661
$69,725$36,332
$940,718
3 Years
$2,457,337
($333,809)
$116,301
$2,239,830
5 Year
$3,035,667
($610,186)
$98,976
$2,524,458
10 Year¹
$6,003,563
($629,807)
$116,592
$5,490,348
17 Attachment
1

Page 243 of 313 ends

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 (3/31/2026) 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 held rates steady in Q1 amid persistent inflation pressures and limited net job creation.
• Policymakers acknowledged the path forward is
complicated, with geopolitical uncertainty addingadditional strain to the Fed’s dual mandate. • The “dot plot” projects 25 bps of rate cuts in both
2026 and 2027; however, this is predicated oninflation progress. • Global central banks remained on pause in Q1 but
energy inflation pressures may necessitate hikes.

Economic Growth (Global):• Stable consumer and business spending support growth, offsetting the weakness seen from the U.S.government shutdown in Q4 GDP. • Fiscal support and AI investment should aid growth;
however, a prolonged conflict in Iran may weigh onconsumer discretionary spending. • Risks to global growth prospects have increased
amid the escalating conflict due to higher energyprices, supply-chain disruptions, and increaseduncertainty.

Inflation (U.S.): • The inflation outlook depends on the duration of the Middle East conflict and the degree to which higherenergy and commodity costs raise core goods andservices prices. • Inflation remains sticky with limited progress on core services and continuing pressure from tariffspassthroughs. • Near-term inflation expectations have increased due
to the higher energy prices while long-runexpectations remain anchored.

Financial Conditions (U.S.):• Corporate fundamentals and underlying demand remain strong. Spread widening has improvedvaluations, though the sector is still rich from ahistoric perspective. • The conflict in the Middle East has tightened financial conditions. The duration of the conflict and its impacton the economy will be a key driver of corporatefundamentals. • Geopolitical conflict, higher oil prices, and the
evolution of the economy are key risks. At this timewe view volatility in private credit as contained andnot a systemic risk.

Consumer Spending (U.S.): • Modest job growth and inflationary pressures continue to weigh on consumer sentiment. Higherenergy and food prices will likely drive consumersentiment lower. • Wage growth continues to exceed inflation, but this
gap has narrowed. Energy shocks may compressreal incomes and reduce discretionary spending. • Lower-income cohorts remained more exposed to
higher energy prices as a larger share of householdbudgets are allocated to essentials. • Higher-income cohorts benefit from strong equity
markets and home price appreciation in recent years.

Labor Markets (U.S.):• Labor market conditions continued to cool with net new job creation close to zero.
• The unemployment rate remained unchanged as
lower job creation was offset by a reduction in thepace of labor force growth. • The Fed has framed the combination of limited job
growth and a stable unemployment rate as anuncomfortable balance. • Initial jobless claims and layoff rates remain low,
consistent with a continued “low-hire/low-fire”environment.

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

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Market Update
PFM Asset Management | pfmam.com
18 Attachment 1

Page 244 of 313 ends

Portfolio Holdings and Transactions
PFM Asset Management | pfmam.com
19 Attachment 1

Page 245 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Summary
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balancesinvested in overnight funds.

Issuer Diversification
Security Type / Issuer Market Value (%) S&P / Moody's / FitchU.S. Treasury 41.8% United States Treasury 41.8% AA / Aa / AA
Agency CMBS 9.6%
Federal Home Loan Mortgage Corp 8.9% AA / Aa / AAFederal National Mortgage Association 0.7% AA / Aa / AA Municipal 0.4%
Los Angeles Unified School District/CA 0.4% NR / Aa / AAA Corporate 29.2%
Abbott Laboratories 0.8% A / Aa / NRAbbVie Inc 0.2% A / A / NRAccenture PLC 0.1% AA / Aa / NRAdvanced Micro Devices Inc 0.4% A / A / NRAir Products and Chemicals Inc 0.5% A / A / NRAlphabet Inc 0.2% AA / Aa / NRAmazon.com Inc 1.4% AA / A / AAAmerican Express Co 0.4% A / A / A Analog Devices Inc 0.5% A / A / AANZ Group Holdings Ltd 1.2% AA / Aa / AA Bank of America Corp 0.8% A / A / AABank of New York Mellon Corp 0.8% A / Aa / AA BlackRock Inc 0.6% AA / Aa / NRCaterpillar Inc 1.2% A / A / ACharles Schwab Corp 0.4% A / A / ACintas Corp 0.3% A / A / NRCisco Systems Inc 1.4% AA / A / NRCitigroup Inc 1.2% A / Aa / ACummins Inc 0.0% A / A / NR Security Type / Issuer Market Value (%) S&P / Moody's / FitchCorporate 29.2% Deere & Co 0.7% A / A / AGoldman Sachs Group Inc 1.3% A / A / A Hershey Co 0.2% A / A / NRHome Depot Inc 1.1% A / A / AHonda Motor Co Ltd 0.6% BBB / A / AHormel Foods Corp 0.2% A / A / NRJohnson & Johnson 0.1% AAA / Aaa / NRJPMorgan Chase & Co 1.1% A / A / AALockheed Martin Corp 0.5% A / A / AMastercard Inc 0.6% A / Aa / NRMerck & Co Inc 0.3% A / Aa / NRMorgan Stanley 0.9% A / A / ANational Rural Utilities Cooperative Fi 1.0% A / A / A Novartis AG 0.7% AA / Aa / NRPACCAR Inc 1.0% A / A / NRPepsiCo Inc 0.7% A / A / NRPfizer Inc 0.3% A / A / NRPNC Financial Services Group Inc 0.9% A / A / ASalesforce Inc 0.8% A / A / NRState Street Corp 0.2% A / Aa / AA Target Corp 0.1% A / A / AToyota Motor Corp 1.2% A / A / AUnitedHealth Group Inc 0.9% A / A / AWells Fargo & Co 1.0% BBB / A / A 20 Attachment
1

Page 246 of 313 ends

PFM Asset Management | pfmam.com

Issuer Diversification
Security Type / Issuer Market Value (%) S&P / Moody's / FitchABS 19.0% Ally Auto Receivables Trust 0.4% AAA / NR / AAAAmerican Express Co 1.6% AAA / NR / AAA BMW Vehicle Lease Trust 0.4% AAA / Aaa / AAACapital One Financial Corp 0.8% AAA / Aaa / AAACarMax Inc 0.1% AAA / NR / AAACitigroup Inc 1.0% AAA / Aaa / NRFifth Third Auto Trust 0.4% AAA / Aaa / NRFord Credit Auto Owner Trust 2.1% AAA / Aaa / AAAGM Financial Consumer Automobile Receiv 0.8% AAA / Aaa / AAAHarley-Davidson Inc 0.1% NR / Aaa / AAA Honda Auto Receivables Owner Trust 1.6% AAA / Aaa / AAAHyundai Auto Receivables Trust 2.1% AAA / NR / AAAMercedes-Benz Auto Receivables Trust 0.5% AAA / Aaa / AAANissan Auto Receivables Owner Trust 1.4% NR / Aaa / AAA Toyota Auto Receivables Owner Trust 2.2% AAA / Aaa / AAAVerizon Master Trust 1.4% NR / Aaa / AAA Volkswagen Auto Lease Trust 0.7% AAA / NR / AAAVolkswagen Auto Loan Enhanced Trust 0.8% NR / Aaa / AAAWF Card Issuance Trust 0.9% AAA / NR / AAA Total 100.0%
21 Attachment
1

Page 247 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Holdings
Managed Account Detail of Securities Held
Security Type/DescriptionDated 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/BDTD 08/15/2024 3.750% 08/15/2027
91282CLG4 500,000.00 AA+ Aa1 9/5/2024 9/6/2024 501,757.81 3.62 2,330.80 500,845.54 499,375.00 US TREASURY N/BDTD 09/02/2025 3.625% 08/31/2027
91282CNV9 250,000.00 AA+ Aa1 9/3/2025 9/4/2025 250,029.30 3.62 788.04 250,021.16 249,257.75 US TREASURY N/BDTD 09/16/2024 3.375% 09/15/2027
91282CLL3 200,000.00 AA+ Aa1 10/1/2024 10/4/2024 199,195.31 3.52 311.82 199,592.87 198,695.40 US TREASURY N/BDTD 11/15/2024 4.125% 11/15/2027
91282CLX7 400,000.00 AA+ Aa1 12/2/2024 12/4/2024 400,078.13 4.12 6,244.48 400,044.71 401,718.80 US TREASURY N/BDTD 11/15/2024 4.125% 11/15/2027
91282CLX7 125,000.00 AA+ Aa1 12/5/2024 12/6/2024 125,019.53 4.12 1,951.40 125,011.06 125,537.13 US TREASURY N/BDTD 11/15/2024 4.125% 11/15/2027
91282CLX7 275,000.00 AA+ Aa1 12/3/2024 12/5/2024 275,150.39 4.10 4,293.08 275,085.39 276,181.68 US TREASURY N/BDTD 12/16/2024 4.000% 12/15/2027
91282CMB4 50,000.00 AA+ Aa1 1/2/2025 1/6/2025 49,609.38 4.28 587.91 49,767.55 50,134.75 US TREASURY N/BDTD 02/18/2025 4.250% 02/15/2028
91282CMN8 500,000.00 AA+ Aa1 3/5/2025 3/7/2025 503,398.44 4.00 2,641.57 502,210.26 503,828.00 US TREASURY N/BDTD 02/18/2025 4.250% 02/15/2028
91282CMN8 100,000.00 AA+ Aa1 3/3/2025 3/5/2025 100,796.88 3.96 528.31 100,517.08 100,765.60 US TREASURY N/BDTD 03/17/2025 3.875% 03/15/2028
91282CMS7 275,000.00 AA+ Aa1 4/9/2025 4/11/2025 274,140.63 3.99 492.27 274,415.42 275,311.58 US TREASURY N/BDTD 03/17/2025 3.875% 03/15/2028
91282CMS7 75,000.00 AA+ Aa1 4/7/2025 4/9/2025 75,292.97 3.73 134.26 75,198.85 75,084.98 US TREASURY N/BDTD 05/15/2025 3.750% 05/15/2028
91282CND9 150,000.00 AA+ Aa1 5/8/2025 5/15/2025 149,613.28 3.84 2,128.80 149,722.12 149,794.95 US TREASURY N/BDTD 05/15/2025 3.750% 05/15/2028
91282CND9 225,000.00 AA+ Aa1 6/5/2025 6/9/2025 224,121.09 3.89 3,193.20 224,354.74 224,692.43 US TREASURY N/BDTD 05/15/2025 3.750% 05/15/2028
91282CND9 125,000.00 AA+ Aa1 5/13/2025 5/19/2025 124,194.34 3.98 1,774.00 124,418.83 124,829.13 US TREASURY N/BDTD 06/16/2025 3.875% 06/15/2028
91282CNH0 200,000.00 AA+ Aa1 7/2/2025 7/7/2025 200,617.19 3.76 2,278.16 200,469.32 200,265.60 22 Attachment
1

Page 248 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Holdings
Security Type/DescriptionDated 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/BDTD 06/16/2025 3.875% 06/15/2028
91282CNH0 100,000.00 AA+ Aa1 7/8/2025 7/9/2025 99,976.56 3.88 1,139.08 99,982.20 100,132.80 US TREASURY N/BDTD 06/16/2025 3.875% 06/15/2028
91282CNH0 100,000.00 AA+ Aa1 6/11/2025 6/16/2025 99,628.91 4.01 1,139.08 99,722.83 100,132.80 US TREASURY N/BDTD 07/15/2025 3.875% 07/15/2028
91282CNM9 100,000.00 AA+ Aa1 7/9/2025 7/15/2025 100,152.34 3.82 813.54 100,117.93 100,117.20 US TREASURY N/BDTD 07/15/2025 3.875% 07/15/2028
91282CNM9 150,000.00 AA+ Aa1 8/1/2025 8/6/2025 149,894.53 3.90 1,220.30 149,917.02 150,175.80 US TREASURY N/BDTD 07/15/2025 3.875% 07/15/2028
91282CNM9 125,000.00 AA+ Aa1 7/28/2025 7/29/2025 124,985.35 3.88 1,016.92 124,988.61 125,146.50 US TREASURY N/BDTD 08/15/2025 3.625% 08/15/2028
91282CNU1 1,100,000.00 AA+ Aa1 9/2/2025 9/4/2025 1,099,914.06 3.63 4,956.84 1,099,930.52 1,095,316.20 US TREASURY N/BDTD 08/15/2025 3.625% 08/15/2028
91282CNU1 100,000.00 AA+ Aa1 12/2/2025 12/3/2025 100,257.81 3.52 450.62 100,228.18 99,574.20 US TREASURY N/BDTD 08/15/2025 3.625% 08/15/2028
91282CNU1 25,000.00 AA+ Aa1 8/8/2025 8/15/2025 24,928.71 3.73 112.66 24,942.95 24,893.55 US TREASURY N/BDTD 09/15/2025 3.375% 09/15/2028
91282CNY3 550,000.00 AA+ Aa1 10/3/2025 10/7/2025 546,691.41 3.59 857.51 547,214.57 544,328.40 US TREASURY N/BDTD 11/17/2025 3.500% 11/15/2028
91282CPK1 100,000.00 AA+ Aa1 11/13/2025 11/17/2025 99,722.66 3.60 1,324.59 99,755.75 99,191.40 US TREASURY N/BDTD 11/17/2025 3.500% 11/15/2028
91282CPK1 450,000.00 AA+ Aa1 12/1/2025 12/3/2025 449,384.77 3.55 5,960.64 449,450.57 446,361.30 US TREASURY N/BDTD 11/17/2025 3.500% 11/15/2028
91282CPK1 250,000.00 AA+ Aa1 12/2/2025 12/3/2025 249,794.92 3.53 3,311.46 249,816.93 247,978.50 US TREASURY N/BDTD 12/15/2025 3.500% 12/15/2028
91282CPP0 650,000.00 AA+ Aa1 1/8/2026 1/12/2026 649,060.55 3.55 6,687.50 649,127.25 644,617.35 US TREASURY N/BDTD 12/15/2025 3.500% 12/15/2028
91282CPP0 125,000.00 AA+ Aa1 12/9/2025 12/15/2025 124,526.37 3.63 1,286.06 124,570.89 123,964.87 US TREASURY N/BDTD 01/15/2026 3.500% 01/15/2029
91282CPT2 325,000.00 AA+ Aa1 2/2/2026 2/4/2026 323,717.78 3.64 2,388.12 323,782.31 322,232.30 US TREASURY N/BDTD 02/17/2026 3.500% 02/15/2029
91282CQA2 775,000.00 AA+ Aa1 3/2/2026 3/4/2026 775,000.00 3.50 3,371.89 775,000.00 768,279.20 23 Attachment
1

Page 249 of 313 ends

PFM Asset Management | pfmam.com

AMERICAN HONDA FINANCE
DTD 07/07/2023 5.250% 07/07/2026
02665WEK3 40,000.00 BBB+ A3 7/5/2023 7/7/2023 39,950.80 5.29 490.00 39,995.63 40,076.40 WELLS FARGO & COMPANYDTD 10/25/2016 3.000% 10/23/2026
949746SH5 75,000.00 BBB+ A1 6/11/2024 6/12/2024 71,187.75 5.31 987.50 74,052.54 74,484.60 CITIBANK NA (CALLABLE)DTD 12/04/2023 5.488% 12/04/2026
17325FBC1 250,000.00 A+ Aa3 1/18/2024 1/22/2024 253,815.00 4.91 4,459.00 250,853.97 251,963.50

AUST & NZ BANKING GRP NY
DTD 01/18/2024 4.750% 01/18/2027
05253JAZ4 250,000.00 AA- Aa2 1/18/2024 1/22/2024 250,205.00 4.72 2,407.99 250,057.52 251,021.00 NATIONAL RURAL UTIL COOP(CALLABLE)DTD 02/05/2024 4.800% 02/05/2027 63743HFM9 80,000.00 A- A2 1/24/2024 2/5/2024 79,976.00 4.81 597.33 79,992.94 80,345.92 CISCO SYSTEMS INC (CALLABLE)DTD 02/26/2024 4.800% 02/26/2027 17275RBQ4 145,000.00 AA- A1 2/21/2024 2/26/2024 144,811.50 4.85 676.67 144,940.57 145,881.89

AMERICAN HONDA FINANCE
DTD 03/13/2024 4.900% 03/12/2027
02665WFD8 80,000.00 BBB+ A3 3/11/2024 3/13/2024 79,956.00 4.92 206.89 79,985.45 80,275.20 TOYOTA MOTOR CREDIT CORPDTD 03/21/2024 5.000% 03/19/2027 89236TLY9 50,000.00 A+ A1 3/18/2024 3/21/2024 49,939.50 5.04 83.33 49,979.50 50,382.60 HORMEL FOODS CORP (CALLABLE)DTD 03/08/2024 4.800% 03/30/2027 440452AK6 50,000.00 A- A2 3/5/2024 3/8/2024 49,951.50 4.83 6.67 49,983.45 50,221.00 24 Attachment
1

Page 250 of 313 ends

PFM Asset Management | pfmam.com

ACCENTURE CAPITAL INC
(CALLABLE)DTD 10/04/2024 3.900% 10/04/2027
00440KAA1 25,000.00 AA- Aa3 10/1/2024 10/4/2024 24,967.75 3.95 479.38 24,983.32 24,954.08 PFIZER INCDTD 11/21/2025 3.875% 11/15/2027
717081FJ7 65,000.00 A A2 11/18/2025 11/21/2025 64,992.85 3.88 909.55 64,994.13 64,858.69 TOYOTA MOTOR CREDIT CORPDTD 01/12/2026 3.750% 01/12/2028 89236TPF6 80,000.00 A+ A1 1/7/2026 1/12/2026 79,932.80 3.79 658.33 79,939.98 79,416.00 MASTERCARD INC (CALLABLE)DTD 09/05/2024 4.100% 01/15/2028 57636QBA1 70,000.00 A+ Aa3 4/23/2025 4/24/2025 69,981.80 4.11 605.89 69,987.93 70,100.73 PEPSICO INC (CALLABLE)DTD 02/07/2025 4.450% 02/07/2028
713448GA0 145,000.00 A+ A1 2/5/2025 2/7/2025 144,939.10 4.47 967.88 144,961.56 146,162.03 HERSHEY COMPANY (CALLABLE)DTD 02/24/2025 4.550% 02/24/2028 427866BK3 40,000.00 A A1 2/19/2025 2/24/2025 39,972.40 4.57 187.06 39,982.18 40,292.36 CISCO SYSTEMS INC (CALLABLE)DTD 02/24/2025 4.550% 02/24/2028 17275RBW1 35,000.00 AA- A1 2/19/2025 2/24/2025 34,962.20 4.59 163.67 34,975.54 35,354.06 JOHNSON & JOHNSON (CALLABLE)DTD 02/20/2025 4.550% 03/01/2028 478160DH4 30,000.00 AAA Aaa 2/18/2025 2/20/2025 29,982.60 4.57 113.75 29,988.73 30,349.14 25 Attachment
1

Page 251 of 313 ends

PFM Asset Management | pfmam.com

ABBVIE INC
DTD 03/04/2026 3.775% 03/03/2028
00287YED7 45,000.00 A- A2 2/24/2026 3/4/2026 44,984.70 3.79 127.41 44,985.29 44,697.51 NATIONAL RURAL UTIL COOP(CALLABLE)DTD 12/16/2022 4.800% 03/15/2028 63743HFG2 75,000.00 A- A2 10/31/2025 11/3/2025 76,281.00 4.03 160.00 76,059.18 75,669.15 MASTERCARD INC (CALLABLE)DTD 02/27/2025 4.550% 03/15/2028 57636QBF0 50,000.00 A+ Aa3 2/18/2025 2/27/2025 49,962.00 4.58 101.11 49,975.12 50,453.85 SALESFORCE INC (CALLABLE)DTD 03/13/2026 4.500% 03/15/2028 79466LAQ7 170,000.00 A+ A2 3/11/2026 3/13/2026 169,864.00 4.54 382.50 169,867.55 170,043.86

ADVANCED MICRO DEVICES
(CALLABLE)DTD 03/24/2025 4.319% 03/24/2028
007903BJ5 75,000.00 A A1 3/10/2025 3/24/2025 75,000.00 4.32 62.99 75,000.00 75,473.93 GOLDMAN SACHS GROUP INC(CALLABLE)DTD 04/23/2025 4.937% 04/23/2028 38141GC77 35,000.00 BBB+ A2 4/15/2025 4/23/2025 35,000.00 4.94 758.38 35,000.00 35,171.01 STATE STREET CORP (CALLABLE)DTD 04/24/2025 4.543% 04/24/2028 857477DA8 45,000.00 A Aa3 4/22/2025 4/24/2025 45,000.00 4.54 891.56 45,000.00 45,090.68 CINTAS CORPORATION NO. 2(CALLABLE)DTD 05/02/2025 4.200% 05/01/2028 17252MAR1 60,000.00 A- A3 4/28/2025 5/2/2025 59,923.20 4.25 1,050.00 59,945.66 59,898.06 CUMMINS INC (CALLABLE)DTD 05/09/2025 4.250% 05/09/2028
231021AY2 10,000.00 A A2 5/6/2025 5/9/2025 9,993.00 4.28 167.64 9,995.00 10,014.12 JOHN DEERE CAPITAL CORPDTD 06/05/2025 4.250% 06/05/2028 24422EYD5 95,000.00 A A1 6/2/2025 6/5/2025 94,915.45 4.28 1,300.97 94,937.65 95,299.63

AIR PRODUCTS & CHEMICALS
(CALLABLE)DTD 06/11/2025 4.300% 06/11/2028
009158BN5 100,000.00 A A2 6/9/2025 6/11/2025 99,933.00 4.32 1,313.89 99,950.29 100,331.10 TARGET CORP (CALLABLE)DTD 06/10/2025 4.350% 06/15/2028
87612EBU9 25,000.00 A A2 6/5/2025 6/10/2025 24,999.75 4.35 320.21 24,999.84 25,116.33

ANALOG DEVICES INC (CALLABLE)
DTD 06/16/2025 4.250% 06/15/2028
032654BD6 110,000.00 A A2 6/12/2025 6/16/2025 109,881.20 4.29 1,376.53 109,911.37 110,173.91 BANK OF NY MELLON CORP(CALLABLE)DTD 07/22/2024 4.890% 07/21/2028 06406RBX4 120,000.00 A Aa3 7/15/2024 7/22/2024 120,000.00 4.89 1,141.00 120,000.00 120,936.48 26 Attachment
1

Page 252 of 313 ends

PFM Asset Management | pfmam.com

AMERICAN EXPRESS CO (CALLABLE)
DTD 07/26/2024 5.043% 07/26/2028
025816DV8 15,000.00 A- A2 7/22/2024 7/26/2024 15,000.00 5.04 136.58 15,000.00 15,129.10 PACCAR FINANCIAL CORPDTD 08/08/2025 4.000% 08/08/2028
69371RT97 75,000.00 A+ A1 8/4/2025 8/8/2025 74,955.75 4.02 441.67 74,964.99 74,946.60 CATERPILLAR FINL SERVICEDTD 08/15/2025 4.100% 08/15/2028 14913UBB5 100,000.00 A A2 8/11/2025 8/15/2025 99,986.00 4.11 523.89 99,988.81 99,912.60 LOCKHEED MARTIN CORP(CALLABLE)DTD 07/28/2025 4.150% 08/15/2028 539830CK3 20,000.00 A- A2 7/23/2025 7/28/2025 19,974.60 4.19 106.06 19,979.98 20,014.62 LOCKHEED MARTIN CORP(CALLABLE)DTD 07/28/2025 4.150% 08/15/2028 539830CK3 80,000.00 A- A2 11/4/2025 11/5/2025 80,440.00 3.94 424.22 80,376.95 80,058.48 NATIONAL RURAL UTIL COOP(CALLABLE)DTD 08/25/2025 4.150% 08/25/2028 63743HFZ0 25,000.00 NR A2 8/20/2025 8/25/2025 25,000.00 4.15 103.75 25,000.00 24,918.25 NATIONAL RURAL UTIL COOP(CALLABLE)DTD 08/25/2025 4.150% 08/25/2028 63743HFZ0 35,000.00 NR A2 8/19/2025 8/25/2025 34,960.80 4.19 145.25 34,968.28 34,885.55 JPMORGAN CHASE & CO(CALLABLE)DTD 10/22/2024 4.505% 10/22/2028 46647PEP7 50,000.00 A A1 10/15/2024 10/22/2024 50,000.00 4.51 994.85 50,000.00 49,989.40 NOVARTIS CAPITAL CORP(CALLABLE)DTD 11/05/2025 3.900% 11/05/2028 66989HAX6 55,000.00 AA- Aa3 11/3/2025 11/5/2025 54,987.90 3.91 869.92 54,989.52 54,730.39 NOVARTIS CAPITAL CORP(CALLABLE)DTD 11/05/2025 3.900% 11/05/2028 66989HAX6 45,000.00 AA- Aa3 11/4/2025 11/5/2025 45,011.25 3.89 711.75 45,009.81 44,779.41 PACCAR FINANCIAL CORPDTD 11/07/2025 4.000% 11/07/2028
69371RU20 45,000.00 A+ A1 11/5/2025 11/7/2025 44,974.80 4.02 720.00 44,978.00 44,839.26 CATERPILLAR FINL SERVICEDTD 11/14/2025 3.950% 11/14/2028 14913UBD1 150,000.00 A A2 11/10/2025 11/14/2025 149,920.50 3.97 2,254.79 149,930.15 149,281.95 27 Attachment
1

Page 253 of 313 ends

PFM Asset Management | pfmam.com

ALPHABET INC (CALLABLE)
DTD 11/06/2025 3.875% 11/15/2028
02079KAV9 15,000.00 AA+ Aa2 11/3/2025 11/6/2025 14,987.10 3.91 234.11 14,988.74 14,951.39 AMAZON.COM INC (CALLABLE)
DTD 11/20/2025 3.900% 11/20/2028
023135CS3 75,000.00 AA A1 11/17/2025 11/20/2025 74,983.50 3.91 1,064.38 74,985.49 74,679.45 JPMORGAN CHASE & CO(CALLABLE)DTD 01/24/2025 4.915% 01/24/2029 46647PEU6 65,000.00 A A1 1/16/2025 1/24/2025 65,000.00 4.92 594.58 65,000.00 65,553.60 BANK OF AMERICA CORP(CALLABLE)DTD 01/24/2025 4.979% 01/24/2029 06051GMK2 170,000.00 A- A1 1/17/2025 1/24/2025 170,000.00 4.98 1,575.30 170,000.00 171,324.47 PACCAR FINANCIAL CORPDTD 02/05/2026 3.900% 02/05/2029
69371RU38 90,000.00 A+ A1 1/29/2026 2/5/2026 89,962.20 3.91 546.00 89,964.25 89,316.90

AMERICAN EXPRESS CO (CALLABLE)
DTD 02/10/2026 4.009% 02/09/2029
025816EN5 75,000.00 A- A2 2/3/2026 2/10/2026 75,000.00 4.01 425.96 75,000.00 74,520.98

ALPHABET INC (CALLABLE)
DTD 02/13/2026 3.700% 02/15/2029
02079KBJ5 20,000.00 AA+ Aa2 2/9/2026 2/13/2026 19,927.40 3.83 98.67 19,930.48 19,828.12 CISCO SYSTEMS INC (CALLABLE)DTD 02/26/2024 4.850% 02/26/2029 17275RBR2 100,000.00 AA- A1 11/7/2025 11/10/2025 102,583.00 4.00 471.53 102,285.56 101,831.30 JOHN DEERE CAPITAL CORPDTD 03/10/2026 3.900% 03/09/2029 24422EYK9 40,000.00 A A1 3/5/2026 3/10/2026 39,946.40 3.95 91.00 39,947.44 39,743.04

ABBOTT LABORATORIES
(CALLABLE)DTD 03/09/2026 3.700% 03/09/2029
002824BR0 160,000.00 A+ Aa3 2/23/2026 3/9/2026 159,796.80 3.75 361.78 159,800.97 158,096.96 TOYOTA MOTOR CREDIT CORPDTD 03/13/2026 4.050% 03/13/2029 89236TPQ2 115,000.00 A+ A1 3/10/2026 3/13/2026 114,958.60 4.06 232.88 114,959.47 114,309.89 AMAZON.COM INC (CALLABLE)
DTD 03/13/2026 4.000% 03/13/2029
023135DC7 100,000.00 AA A1 3/10/2026 3/13/2026 99,989.00 4.00 200.00 99,989.25 99,494.50 MERCK & CO INC (CALLABLE)DTD 12/04/2025 3.850% 03/15/2029 58933YBW4 60,000.00 A+ Aa3 12/1/2025 12/4/2025 59,911.20 3.90 102.67 59,919.68 59,564.10 NOVARTIS CAPITAL CORP(CALLABLE)DTD 03/18/2026 4.100% 03/16/2029 66989HBF4 50,000.00 AA- Aa3 3/16/2026 3/18/2026 49,941.50 4.14 74.03 49,942.24 49,940.10 MORGAN STANLEY (CALLABLE)DTD 04/17/2025 4.994% 04/12/2029 61747YFY6 55,000.00 A- A1 4/14/2025 4/17/2025 55,000.00 4.99 1,289.42 55,000.00 55,504.24 28 Attachment
1

Page 254 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Holdings
Security Type/DescriptionDated 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
HOME DEPOT INC (CALLABLE)DTD 12/04/2023 4.900% 04/15/2029 437076CW0 100,000.00 A A2 3/9/2026 3/10/2026 102,548.00 4.02 2,259.44 102,501.97 101,896.50 PNC FINANCIAL SERVICES(CALLABLE)DTD 06/12/2023 5.582% 06/12/2029 693475BR5 100,000.00 A- A3 11/3/2025 11/4/2025 103,437.00 4.54 1,690.11 102,922.05 102,472.60 WELLS FARGO & COMPANY(CALLABLE)DTD 09/15/2025 4.078% 09/15/2029 95000U4A8 75,000.00 BBB+ A1 9/8/2025 9/15/2025 75,000.00 4.08 135.93 75,000.00 74,174.93 MORGAN STANLEY (CALLABLE)DTD 10/22/2025 4.133% 10/18/2029 61748UAK8 75,000.00 A- A1 10/17/2025 10/22/2025 75,000.00 4.13 1,369.06 75,000.00 74,129.85 GOLDMAN SACHS GROUP INC(CALLABLE)DTD 10/21/2025 4.153% 10/21/2029 38141GD27 155,000.00 BBB+ A2 10/14/2025 10/21/2025 155,000.00 4.15 2,860.96 155,000.00 153,553.70 MORGAN STANLEY (CALLABLE)DTD 01/20/2026 4.238% 01/09/2030 61748UAR3 55,000.00 A- A1 1/15/2026 1/20/2026 55,000.00 4.24 459.71 55,000.00 54,445.00 BANK OF NY MELLON CORP(CALLABLE)DTD 01/22/2026 4.026% 01/22/2030 06406RCG0 40,000.00 A Aa3 1/14/2026 1/22/2026 40,000.00 4.03 308.66 40,000.00 39,599.60 WELLS FARGO & COMPANY(CALLABLE)DTD 01/23/2026 4.182% 01/23/2030 95000U4D2 50,000.00 BBB+ A1 1/15/2026 1/23/2026 50,000.00 4.18 394.97 50,000.00 49,557.00 Security Type Sub-Total 5,975,000.00 5,967,858.60 4.44 57,191.17 5,977,439.78 5,981,316.08 Agency CMBS
FHMS K736 A2DTD 09/01/2019 2.282% 07/01/2026
3137FNWX4 96,821.14 AA+ Aa1 10/5/2023 10/11/2023 89,835.65 5.05 184.12 96,027.97 96,360.18 FHMS K058 A2DTD 11/01/2016 2.653% 08/01/2026
3137BSP72 175,000.00 AA+ Aa1 4/12/2023 4/17/2023 167,036.13 4.10 386.90 174,050.66 173,917.45 FNA 2024-M6 A2DTD 11/01/2024 2.999% 07/01/2027
3136BTGM9 149,604.82 AA+ Aa1 12/12/2024 12/17/2024 144,368.65 4.32 373.89 146,868.41 147,861.92 FHMS K067 A2DTD 09/01/2017 3.194% 07/01/2027
3137FAWS3 150,000.00 AA+ Aa1 6/4/2025 6/9/2025 146,824.22 4.23 399.25 147,991.87 148,414.80 29 Attachment
1

Page 255 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Holdings
Security Type/DescriptionDated 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 K068 A2DTD 10/01/2017 3.244% 08/01/2027
3137FBBX3 115,000.00 AA+ Aa1 6/17/2024 6/21/2024 109,708.20 4.80 310.88 112,553.08 113,697.05 FHMS K739 A2DTD 11/01/2020 1.336% 09/01/2027
3137F64P9 195,284.57 AA+ Aa1 10/30/2024 11/4/2024 180,294.95 4.14 217.42 187,328.75 189,051.47 FHMS K069 A2DTD 11/01/2017 3.187% 09/01/2027
3137FBU79 86,920.75 AA+ Aa1 6/17/2024 6/21/2024 82,717.32 4.78 230.85 84,915.37 85,824.42 FHMS K071 A2DTD 12/01/2017 3.286% 11/01/2027
3137FCLD4 90,000.00 AA+ Aa1 5/1/2025 5/6/2025 88,154.30 4.13 246.45 88,780.63 88,900.29 FHMS K073 A2DTD 02/01/2018 3.350% 01/01/2028
3137FETN0 75,000.00 AA+ Aa1 3/7/2025 3/12/2025 73,057.62 4.31 209.38 73,738.48 74,052.45 FHMS K074 A2DTD 03/01/2018 3.600% 01/01/2028
3137F4D41 94,360.47 AA+ Aa1 2/27/2025 3/4/2025 92,336.89 4.39 283.08 93,055.11 93,481.60 FHMS K075 A2DTD 04/01/2018 3.650% 02/01/2028
3137F4X72 85,000.00 AA+ Aa1 5/21/2025 5/27/2025 83,396.29 4.40 258.54 83,833.22 84,224.97 FHMS K075 A2DTD 04/01/2018 3.650% 02/01/2028
3137F4X72 100,000.00 AA+ Aa1 3/5/2025 3/10/2025 98,253.91 4.28 304.17 98,849.98 99,088.20 FHMS K076 A2DTD 05/01/2018 3.900% 04/01/2028
3137FEZU7 165,000.00 AA+ Aa1 3/4/2025 3/7/2025 163,182.42 4.27 536.25 163,771.06 164,160.15 FHMS K077 A2DTD 06/01/2018 3.850% 05/01/2028
3137FG6X8 100,000.00 AA+ Aa1 6/6/2025 6/11/2025 98,597.66 4.35 320.83 98,960.13 99,369.10 FHMS K743 A2DTD 06/01/2021 1.770% 05/01/2028
3137H14B9 150,000.00 AA+ Aa1 5/22/2025 5/28/2025 139,494.14 4.32 221.25 142,091.85 142,935.45 FHMS K079 A2DTD 08/01/2018 3.926% 06/01/2028
3137FGZT5 175,000.00 AA+ Aa1 4/16/2025 4/22/2025 173,256.84 4.26 572.54 173,746.93 174,110.65 Security Type Sub-Total 2,002,991.75 1,930,515.19 4.35 5,055.80 1,966,563.50 1,975,450.15 ABS
TAOT 2022-C A3DTD 08/16/2022 3.760% 04/15/2027
89231CAD9 2,009.34 AAA NR 8/8/2022 8/16/2022 2,009.00 3.76 3.36 2,009.26 2,008.96 COPAR 2022-2 A3DTD 08/10/2022 3.660% 05/17/2027
14043GAD6 2,432.35 AAA Aaa 8/2/2022 8/10/2022 2,432.17 3.66 3.96 2,432.31 2,431.81 HART 2022-C A3DTD 11/09/2022 5.390% 06/15/2027
44933DAD3 4,055.94 AAA NR 11/1/2022 11/9/2022 4,055.92 5.39 9.72 4,055.93 4,057.85 30 Attachment
1

Page 256 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Holdings
Security Type/DescriptionDated 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
MBART 2022-1 A3DTD 11/22/2022 5.210% 08/16/2027
58768PAC8 7,739.19 AAA Aaa 11/15/2022 11/22/2022 7,737.66 5.21 17.92 7,738.75 7,749.64 CARMX 2022-4 A3DTD 10/31/2022 5.340% 08/16/2027
14318UAD3 15,400.89 AAA NR 10/26/2022 10/31/2022 15,397.28 5.35 36.55 15,399.86 15,417.53 TAOT 2023-A A3DTD 01/30/2023 4.630% 09/15/2027
891940AC2 8,732.68 AAA NR 1/24/2023 1/30/2023 8,732.67 4.63 17.97 8,732.67 8,744.51 MBART 2023-1 A3DTD 01/25/2023 4.510% 11/15/2027
58770AAC7 6,079.22 AAA NR 1/18/2023 1/25/2023 6,078.49 4.51 12.19 6,078.97 6,084.07 NAROT 2023-A A3DTD 04/26/2023 4.910% 11/15/2027
65480WAD3 32,931.27 NR Aaa 4/18/2023 4/26/2023 32,925.45 4.91 71.86 32,929.19 32,994.00 HDMOT 2023-A A3DTD 02/23/2023 5.050% 12/15/2027
41285JAD0 13,222.19 NR Aaa 2/13/2023 2/23/2023 13,220.86 5.05 29.68 13,221.71 13,245.05 TAOT 2023-B A3DTD 05/23/2023 4.710% 02/15/2028
891941AD8 35,949.79 NR Aaa 5/16/2023 5/23/2023 35,947.78 4.71 75.25 35,948.99 36,052.89 FORDO 2023-A A3DTD 03/31/2023 4.650% 02/15/2028
344928AD8 15,608.13 AAA NR 3/28/2023 3/31/2023 15,606.50 4.65 32.26 15,607.50 15,633.57 BMWOT 2023-A A3DTD 07/18/2023 5.470% 02/25/2028
05592XAD2 11,562.64 AAA NR 7/11/2023 7/18/2023 11,560.59 5.47 10.54 11,561.79 11,621.39 FORDO 2023-B A3DTD 06/26/2023 5.230% 05/15/2028
344930AD4 27,331.54 AAA NR 6/21/2023 6/26/2023 27,331.17 5.23 63.53 27,331.38 27,452.62 GMCAR 2023-3 A3DTD 07/19/2023 5.450% 06/16/2028
36267KAD9 20,961.45 AAA Aaa 7/11/2023 7/19/2023 20,960.64 5.45 47.60 20,961.09 21,065.69 FITAT 2023-1 A3DTD 08/23/2023 5.530% 08/15/2028
31680EAD3 72,829.79 AAA Aaa 8/15/2023 8/23/2023 72,825.27 5.53 179.00 72,827.64 73,323.43 HAROT 2024-1 A3DTD 02/21/2024 5.210% 08/15/2028
437918AC9 90,849.83 AAA Aaa 2/13/2024 2/21/2024 90,845.88 5.21 210.37 90,847.80 91,457.61 ALLYA 2024-1 A3
DTD 03/13/2024 5.080% 12/15/2028
02008FAC8 46,225.39 AAA NR 3/5/2024 3/13/2024 46,218.68 5.08 104.37 46,221.43 46,420.78 NAROT 2024-A A3DTD 05/22/2024 5.280% 12/15/2028
65479UAD0 142,192.54 NR Aaa 5/14/2024 5/22/2024 142,179.26 5.28 333.68 142,184.31 143,131.30 FORDO 2024-A A3DTD 03/19/2024 5.090% 12/15/2028
34535EAD4 65,875.40 NR Aaa 3/14/2024 3/19/2024 65,864.33 5.09 149.02 65,868.75 66,326.19 HART 2024-A A3DTD 03/20/2024 4.990% 02/15/2029
448973AD9 40,935.73 AAA NR 3/11/2024 3/20/2024 40,926.71 5.00 90.79 40,930.27 41,172.50 31 Attachment
1

Page 257 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Holdings
Security Type/DescriptionDated 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
BMWOT 2024-A A3DTD 06/11/2024 5.180% 02/26/2029
096919AD7 79,485.54 AAA Aaa 6/4/2024 6/11/2024 79,473.47 5.18 68.62 79,477.85 80,009.19 TAOT 2024-C A3DTD 07/30/2024 4.880% 03/15/2029
89237QAD2 92,722.34 AAA NR 7/23/2024 7/30/2024 92,722.28 4.88 201.10 92,722.34 93,319.94 HART 2024-B A3DTD 07/24/2024 4.840% 03/15/2029
44934QAD3 125,000.00 AAA NR 7/16/2024 7/24/2024 124,981.14 4.84 268.89 124,987.63 125,731.88 VWALT 2026-A A3DTD 03/24/2026 4.170% 03/20/2029
92868CAD3 145,000.00 AAA NR 3/17/2026 3/24/2026 144,992.95 4.17 117.57 144,993.13 144,710.87 FORDO 2024-B A3DTD 06/24/2024 5.100% 04/15/2029
34531QAD1 163,937.51 AAA Aaa 6/18/2024 6/24/2024 163,936.01 5.10 371.59 163,936.59 165,210.81 GMCAR 2024-3 A3DTD 07/10/2024 5.130% 04/16/2029
38013KAD2 79,023.88 AAA Aaa 7/2/2024 7/10/2024 79,011.72 5.13 168.91 79,015.88 79,585.82 VALET 2025-1 A3DTD 03/25/2025 4.500% 08/20/2029
92868MAD1 95,000.00 NR Aaa 3/18/2025 3/25/2025 94,996.77 4.50 130.63 94,997.62 95,522.22 HAROT 2025-1 A3DTD 02/11/2025 4.570% 09/21/2029
43814VAC1 140,000.00 AAA NR 2/4/2025 2/11/2025 139,995.69 4.57 177.72 139,996.86 140,925.54 HART 2025-A A3DTD 03/12/2025 4.320% 10/15/2029
44935CAD3 125,000.00 AAA NR 3/4/2025 3/12/2025 124,981.56 4.32 240.00 124,985.67 125,292.25 HAROT 2025-2 A3DTD 05/08/2025 4.150% 10/15/2029
437921AD1 40,000.00 NR Aaa 4/29/2025 5/8/2025 39,995.53 4.15 73.78 39,996.45 40,026.16 TAOT 2025-B A3DTD 04/30/2025 4.340% 11/15/2029
89231HAD8 75,000.00 AAA NR 4/24/2025 4/30/2025 74,995.70 4.34 144.67 74,996.74 75,280.58 MBART 2025-1 A3DTD 01/23/2025 4.780% 12/17/2029
58773DAD6 90,000.00 NR Aaa 1/14/2025 1/23/2025 89,980.86 4.78 191.20 89,985.34 90,700.83 NAROT 2025-A A3DTD 05/27/2025 4.490% 12/17/2029
65481GAD7 105,000.00 NR Aaa 5/20/2025 5/27/2025 104,979.84 4.49 209.53 104,983.52 105,664.86 GMCAR 2025-1 A3DTD 01/15/2025 4.620% 12/17/2029
362955AD8 60,000.00 NR Aaa 1/9/2025 1/15/2025 59,995.54 4.62 115.50 59,996.73 60,331.74 AMXCA 2025-1 A
DTD 02/11/2025 4.560% 12/17/2029
02582JKM1 190,000.00 AAA NR 2/4/2025 2/11/2025 189,957.80 4.57 385.07 189,966.98 191,520.19 TAOT 2025-C A3DTD 07/30/2025 4.110% 03/15/2030
89238VAD0 80,000.00 AAA Aaa 7/22/2025 7/30/2025 79,991.57 4.11 146.13 79,992.71 80,082.88 ALLYA 2025-1 A3
DTD 10/16/2025 3.960% 03/15/2030
02008KAC7 40,000.00 AAA NR 10/7/2025 10/16/2025 39,994.29 3.96 70.40 39,994.88 39,957.40 32 Attachment
1

Page 258 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Holdings
Security Type/DescriptionDated 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
VALET 2025-2 A3DTD 11/25/2025 3.920% 03/20/2030
92869QAD1 70,000.00 NR Aaa 11/18/2025 11/25/2025 69,988.25 3.92 83.84 69,989.21 69,640.27 VZMT 2025-3 A1ADTD 03/31/2025 4.510% 03/20/2030
92348KDY6 115,000.00 NR Aaa 3/25/2025 3/31/2025 114,995.06 4.51 158.48 114,996.24 115,513.82 AMXCA 2025-2 A
DTD 05/13/2025 4.280% 04/15/2030
02582JKP4 140,000.00 AAA NR 5/6/2025 5/13/2025 139,997.47 4.28 266.31 139,997.93 140,484.68 FORDO 2025-B A3DTD 09/26/2025 3.910% 04/15/2030
34532BAG6 80,000.00 NR Aaa 9/23/2025 9/26/2025 79,991.37 3.91 139.02 79,992.54 79,740.72 WFCIT 2025-A1 ADTD 06/10/2025 4.340% 05/15/2030
92970QAJ4 175,000.00 AAA NR 6/3/2025 6/10/2025 174,997.10 4.34 337.56 174,998.02 175,908.95 TAOT 2025-D A3DTD 10/23/2025 3.840% 06/17/2030
89231GAD0 105,000.00 AAA NR 10/15/2025 10/23/2025 104,987.93 3.84 179.20 104,988.99 104,240.33 CCCIT 2025-A1 ADTD 06/26/2025 4.300% 06/21/2030
17305EHA6 200,000.00 AAA Aaa 6/18/2025 6/26/2025 199,945.74 4.31 2,388.89 199,953.37 200,590.80 COPAR 2025-1 A3DTD 11/05/2025 3.850% 07/15/2030
14043YAD7 45,000.00 AAA NR 10/28/2025 11/5/2025 44,990.47 3.85 77.00 44,991.30 44,769.87 COMET 2025-A1 ADTD 09/16/2025 3.820% 09/15/2030
14041NGF2 120,000.00 AAA NR 9/9/2025 9/16/2025 119,977.25 3.82 203.73 119,979.87 119,274.72 TAOT 2026-A A3DTD 01/21/2026 3.860% 09/16/2030
89240KAD0 45,000.00 AAA Aaa 1/13/2026 1/21/2026 44,996.17 3.86 77.20 44,996.32 44,702.15 HART 2025-D A3DTD 11/12/2025 3.990% 09/16/2030
44891XAD9 70,000.00 AAA NR 11/5/2025 11/12/2025 69,994.08 3.99 124.13 69,994.58 69,827.31 HAROT 2026-1 A3DTD 02/18/2026 3.780% 09/23/2030
43815CAD0 50,000.00 NR Aaa 2/10/2026 2/18/2026 49,992.04 3.78 52.50 49,992.39 49,585.55 FORDO 2026-A A3DTD 03/24/2026 4.050% 10/15/2030
34532WAD7 80,000.00 AAA Aaa 3/17/2026 3/24/2026 79,984.71 4.05 63.00 79,985.10 79,743.76 HART 2026-A A3DTD 02/18/2026 3.790% 02/18/2031
448981AD2 60,000.00 AAA NR 2/10/2026 2/18/2026 59,995.95 3.79 101.07 59,996.26 59,492.82 33 Attachment
1

Page 259 of 313 ends

PFM Asset Management | pfmam.com

4.14 4.14%
Total Investments $20,700,525.40
34 Attachment
1

Page 260 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY1/7/2026 1/12/2026 80,000.00 89236TPF6 TOYOTA MOTOR CREDIT CORP 3.75% 1/12/2028 79,932.80 3.79%1/8/2026 1/12/2026 650,000.00 91282CPP0 US TREASURY N/B 3.50% 12/15/2028 650,810.55 3.55%1/13/2026 1/21/2026 45,000.00 89240KAD0 TAOT 2026-A A3 3.86% 9/16/2030 44,996.17 3.86%1/14/2026 1/22/2026 40,000.00 06406RCG0 BANK OF NY MELLON CORP (CALLABLE) 4.02% 1/22/2030 40,000.00 4.03%1/15/2026 1/20/2026 55,000.00 61748UAR3 MORGAN STANLEY (CALLABLE) 4.23% 1/9/2030 55,000.00 4.24%1/15/2026 1/23/2026 50,000.00 95000U4D2 WELLS FARGO & COMPANY (CALLABLE) 4.18% 1/23/2030 50,000.00 4.18%1/29/2026 2/5/2026 90,000.00 69371RU38 PACCAR FINANCIAL CORP 3.90% 2/5/2029 89,962.20 3.91%2/2/2026 2/4/2026 475,000.00 91282CPT2 US TREASURY N/B 3.50% 1/15/2029 474,044.49 3.64%2/3/2026 2/10/2026 75,000.00 025816EN5 AMERICAN EXPRESS CO (CALLABLE) 4.00% 2/9/2029 75,000.00 4.01%2/9/2026 2/13/2026 20,000.00 02079KBJ5 ALPHABET INC (CALLABLE) 3.70% 2/15/2029 19,927.40 3.83%2/10/2026 2/18/2026 60,000.00 448981AD2 HART 2026-A A3 3.79% 2/18/2031 59,995.95 3.79%2/10/2026 2/18/2026 50,000.00 43815CAD0 HAROT 2026-1 A3 3.78% 9/23/2030 49,992.04 3.78%2/23/2026 3/9/2026 160,000.00 002824BR0 ABBOTT LABORATORIES (CALLABLE) 3.70% 3/9/2029 159,796.80 3.75%2/24/2026 3/4/2026 45,000.00 00287YED7 ABBVIE INC 3.77% 3/3/2028 44,984.70 3.79%3/2/2026 3/4/2026 775,000.00 91282CQA2 US TREASURY N/B 3.50% 2/15/2029 776,273.83 3.50%3/3/2026 3/6/2026 150,000.00 91282CQA2 US TREASURY N/B 3.50% 2/15/2029 150,257.97 3.50%3/5/2026 3/10/2026 40,000.00 24422EYK9 JOHN DEERE CAPITAL CORP 3.90% 3/9/2029 39,946.40 3.95% 35 Attachment
1

Page 261 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
BUY3/5/2026 3/13/2026 170,000.00 92348KFC2 VZMT 2026-1 A1A 3.94% 2/20/2031 169,976.34 3.94%3/9/2026 3/10/2026 100,000.00 437076CW0 HOME DEPOT INC (CALLABLE) 4.90% 4/15/2029 104,521.61 4.02%3/10/2026 3/13/2026 115,000.00 89236TPQ2 TOYOTA MOTOR CREDIT CORP 4.05% 3/13/2029 114,958.60 4.06%3/10/2026 3/13/2026 100,000.00 023135DC7 AMAZON.COM INC (CALLABLE) 4.00% 3/13/2029 99,989.00 4.00%3/11/2026 3/13/2026 170,000.00 79466LAQ7 SALESFORCE INC (CALLABLE) 4.50% 3/15/2028 169,864.00 4.54%3/16/2026 3/18/2026 50,000.00 66989HBF4 NOVARTIS CAPITAL CORP (CALLABLE) 4.10% 3/16/2029 49,941.50 4.14%3/17/2026 3/24/2026 80,000.00 34532WAD7 FORDO 2026-A A3 4.05% 10/15/2030 79,984.71 4.05%3/17/2026 3/24/2026 145,000.00 92868CAD3 VWALT 2026-A A3 4.17% 3/20/2029 144,992.95 4.17% Total BUY 3,790,000.00 3,795,150.01 0.00
CALL1/26/2026 1/26/2026 15,000.00 693475BL8 PNC FINANCIAL SERVICES (CALLABLE) 4.75% 1/26/2027 15,000.00 4.76%3/6/2026 3/6/2026 15,000.00 63743HFH0 NATIONAL RURAL UTIL COOP (CALLABLE) 4.45% 3/13/2026 15,320.77 4.36% 0.073/16/2026 3/16/2026 115,000.00 438516CX2 HONEYWELL INTERNATIONAL (CALLABLE) 4.65% 7/30/2027 117,097.79 3.72% 1,416.01 Total CALL 145,000.00 147,418.56 1,416.08
INTEREST1/1/2026 1/1/2026 544647KX7 LOS ANGELES UNIF SD-B 4.38% 7/1/2027 2,358.981/1/2026 1/25/2026 3136BTGM9 FNA 2024-M6 A2 2.99% 7/1/2027 362.99 36 Attachment
1

Page 262 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/1/2026 1/25/2026 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 386.901/1/2026 1/25/2026 3137FEZU7 FHMS K076 A2 3.90% 4/1/2028 536.251/1/2026 1/25/2026 3137FBBX3 FHMS K068 A2 3.24% 8/1/2027 310.881/1/2026 1/25/2026 3137FBU79 FHMS K069 A2 3.18% 9/1/2027 232.131/1/2026 1/25/2026 3137FAWS3 FHMS K067 A2 3.19% 7/1/2027 399.251/1/2026 1/25/2026 3137FNWX4 FHMS K736 A2 2.28% 7/1/2026 193.281/1/2026 1/25/2026 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 342.441/1/2026 1/25/2026 3137FCLD4 FHMS K071 A2 3.28% 11/1/2027 246.451/1/2026 1/25/2026 3137F64P9 FHMS K739 A2 1.33% 9/1/2027 218.151/1/2026 1/25/2026 3137FGZT5 FHMS K079 A2 3.92% 6/1/2028 572.541/1/2026 1/25/2026 3137FG6X8 FHMS K077 A2 3.85% 5/1/2028 320.831/1/2026 1/25/2026 3137F4X72 FHMS K075 A2 3.65% 2/1/2028 562.711/1/2026 1/25/2026 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 221.251/1/2026 1/25/2026 3137F4D41 FHMS K074 A2 3.60% 1/1/2028 284.701/1/2026 1/25/2026 3137FETN0 FHMS K073 A2 3.35% 1/1/2028 209.371/2/2026 1/2/2026 MONEY0002 MONEY MARKET FUND 0.00% 118.151/7/2026 1/7/2026 02665WEK3 AMERICAN HONDA FINANCE 5.25% 7/7/2026 1,050.00 37 Attachment
1

Page 263 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/8/2026 1/8/2026 89236TMY8 TOYOTA MOTOR CREDIT CORP 4.60% 1/8/2027 1,610.001/15/2026 1/15/2026 437921AD1 HAROT 2025-2 A3 4.15% 10/15/2029 138.331/15/2026 1/15/2026 891941AD8 TAOT 2023-B A3 4.71% 2/15/2028 188.941/15/2026 1/15/2026 14043GAD6 COPAR 2022-2 A3 3.66% 5/17/2027 33.661/15/2026 1/15/2026 89238VAD0 TAOT 2025-C A3 4.11% 3/15/2030 274.001/15/2026 1/15/2026 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 52.851/15/2026 1/15/2026 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 38.971/15/2026 1/15/2026 92970QAJ4 WFCIT 2025-A1 A 4.34% 5/15/2030 632.921/15/2026 1/15/2026 44934QAD3 HART 2024-B A3 4.84% 3/15/2029 504.171/15/2026 1/15/2026 02008FAC8 ALLYA 2024-1 A3 5.08% 12/15/2028 247.031/15/2026 1/15/2026 14041NGF2 COMET 2025-A1 A 3.82% 9/15/2030 382.001/15/2026 1/15/2026 89231HAD8 TAOT 2025-B A3 4.34% 11/15/2029 271.251/15/2026 1/15/2026 02582JKP4 AMXCA 2025-2 A 4.28% 4/15/2030 499.331/15/2026 1/15/2026 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 439.741/15/2026 1/15/2026 02008KAC7 ALLYA 2025-1 A3 3.96% 3/15/2030 132.001/15/2026 1/15/2026 14318UAD3 CARMX 2022-4 A3 5.34% 8/16/2027 164.681/15/2026 1/15/2026 89231GAD0 TAOT 2025-D A3 3.84% 6/17/2030 336.00 38 Attachment
1

Page 264 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/15/2026 1/15/2026 65480WAD3 NAROT 2023-A A3 4.91% 11/15/2027 212.491/15/2026 1/15/2026 58773DAD6 MBART 2025-1 A3 4.78% 12/17/2029 358.501/15/2026 1/15/2026 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 93.851/15/2026 1/15/2026 89231CAD9 TAOT 2022-C A3 3.76% 4/15/2027 23.301/15/2026 1/15/2026 89237QAD2 TAOT 2024-C A3 4.88% 3/15/2029 386.331/15/2026 1/15/2026 14043QAC6 COPAR 2022-1 A3 3.17% 4/15/2027 13.421/15/2026 1/15/2026 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 89.901/15/2026 1/15/2026 65481GAD7 NAROT 2025-A A3 4.49% 12/17/2029 392.881/15/2026 1/15/2026 34535EAD4 FORDO 2024-A A3 5.09% 12/15/2028 339.101/15/2026 1/15/2026 02582JKM1 AMXCA 2025-1 A 4.56% 12/17/2029 722.001/15/2026 1/15/2026 14043YAD7 COPAR 2025-1 A3 3.85% 7/15/2030 144.371/15/2026 1/15/2026 44891XAD9 HART 2025-D A3 3.99% 9/16/2030 232.751/15/2026 1/15/2026 91282CKZ3 US TREASURY N/B 4.37% 7/15/2027 4,921.881/15/2026 1/15/2026 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 69.871/15/2026 1/15/2026 34532BAG6 FORDO 2025-B A3 3.91% 4/15/2030 260.671/15/2026 1/15/2026 44935CAD3 HART 2025-A A3 4.32% 10/15/2029 450.001/15/2026 1/15/2026 448973AD9 HART 2024-A A3 4.99% 2/15/2029 207.38 39 Attachment
1

Page 265 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/15/2026 1/15/2026 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 38.411/15/2026 1/15/2026 34531QAD1 FORDO 2024-B A3 5.10% 4/15/2029 722.501/15/2026 1/15/2026 437918AC9 HAROT 2024-1 A3 5.21% 8/15/2028 495.791/15/2026 1/15/2026 44933DAD3 HART 2022-C A3 5.39% 6/15/2027 80.341/15/2026 1/15/2026 57636QBA1 MASTERCARD INC (CALLABLE) 4.10% 1/15/2028 1,435.001/15/2026 1/15/2026 65479UAD0 NAROT 2024-A A3 5.28% 12/15/2028 781.341/15/2026 1/15/2026 91282CNM9 US TREASURY N/B 3.87% 7/15/2028 7,265.631/15/2026 1/15/2026 344930AD4 FORDO 2023-B A3 5.23% 5/15/2028 161.231/16/2026 1/16/2026 362955AD8 GMCAR 2025-1 A3 4.62% 12/17/2029 231.001/16/2026 1/16/2026 36265WAD5 GMCAR 2022-3 A3 3.64% 4/16/2027 0.711/16/2026 1/16/2026 38013KAD2 GMCAR 2024-3 A3 5.13% 4/16/2029 384.751/16/2026 1/16/2026 36267KAD9 GMCAR 2023-3 A3 5.45% 6/16/2028 127.691/18/2026 1/18/2026 05253JAZ4 AUST & NZ BANKING GRP NY 4.75% 1/18/2027 5,937.501/20/2026 1/20/2026 92868MAD1 VALET 2025-1 A3 4.50% 8/20/2029 356.251/20/2026 1/20/2026 92348KDY6 VZMT 2025-3 A1A 4.51% 3/20/2030 432.211/20/2026 1/20/2026 92869QAD1 VALET 2025-2 A3 3.92% 3/20/2030 228.671/21/2026 1/21/2026 06406RBX4 BANK OF NY MELLON CORP (CALLABLE) 4.89% 7/21/2028 2,934.00 40 Attachment
1

Page 266 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST1/21/2026 1/21/2026 43814VAC1 HAROT 2025-1 A3 4.57% 9/21/2029 533.171/22/2026 1/22/2026 46647PEL6 JPMORGAN CHASE & CO (CALLABLE) 4.97% 7/22/2028 2,738.451/23/2026 1/23/2026 693475BY0 PNC FINANCIAL SERVICES (CALLABLE) 5.10% 7/23/2027 2,295.901/24/2026 1/24/2026 46647PEU6 JPMORGAN CHASE & CO (CALLABLE) 4.91% 1/24/2029 1,597.381/24/2026 1/24/2026 06051GMK2 BANK OF AMERICA CORP (CALLABLE) 4.97% 1/24/2029 4,232.151/25/2026 1/25/2026 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 77.391/25/2026 1/25/2026 096919AD7 BMWOT 2024-A A3 5.18% 2/26/2029 425.461/26/2026 1/26/2026 693475BL8 PNC FINANCIAL SERVICES (CALLABLE) 4.75% 1/26/2027 356.851/26/2026 1/26/2026 025816DV8 AMERICAN EXPRESS CO (CALLABLE) 5.04% 7/26/2028 378.231/26/2026 1/26/2026 09290DAH4 BLACKROCK FUNDING INC (CALLABLE) 4.60% 7/26/2027 2,760.001/30/2026 1/30/2026 438516CX2 HONEYWELL INTERNATIONAL (CALLABLE) 4.65% 7/30/2027 2,673.752/1/2026 2/25/2026 3137FGZT5 FHMS K079 A2 3.92% 6/1/2028 572.542/1/2026 2/25/2026 3137F4D41 FHMS K074 A2 3.60% 1/1/2028 284.202/1/2026 2/25/2026 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 341.812/1/2026 2/25/2026 3137FETN0 FHMS K073 A2 3.35% 1/1/2028 209.372/1/2026 2/25/2026 3137FBBX3 FHMS K068 A2 3.24% 8/1/2027 310.882/1/2026 2/25/2026 3137FEZU7 FHMS K076 A2 3.90% 4/1/2028 536.25 41 Attachment
1

Page 267 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/1/2026 2/25/2026 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 386.902/1/2026 2/25/2026 3137FAWS3 FHMS K067 A2 3.19% 7/1/2027 399.252/1/2026 2/25/2026 3137FCLD4 FHMS K071 A2 3.28% 11/1/2027 246.452/1/2026 2/25/2026 3137FNWX4 FHMS K736 A2 2.28% 7/1/2026 190.632/1/2026 2/25/2026 3137FG6X8 FHMS K077 A2 3.85% 5/1/2028 320.832/1/2026 2/25/2026 3136BTGM9 FNA 2024-M6 A2 2.99% 7/1/2027 362.992/1/2026 2/25/2026 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 221.252/1/2026 2/25/2026 3137F4X72 FHMS K075 A2 3.65% 2/1/2028 562.712/1/2026 2/25/2026 3137F64P9 FHMS K739 A2 1.33% 9/1/2027 217.912/1/2026 2/25/2026 3137FBU79 FHMS K069 A2 3.18% 9/1/2027 231.732/2/2026 2/2/2026 MONEY0002 MONEY MARKET FUND 0.00% 231.872/5/2026 2/5/2026 63743HFM9 NATIONAL RURAL UTIL COOP (CALLABLE) 4.80% 2/5/2027 1,920.002/7/2026 2/7/2026 713448GA0 PEPSICO INC (CALLABLE) 4.45% 2/7/2028 3,226.252/8/2026 2/8/2026 69371RT97 PACCAR FINANCIAL CORP 4.00% 8/8/2028 1,500.002/15/2026 2/15/2026 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 78.492/15/2026 2/15/2026 58773DAD6 MBART 2025-1 A3 4.78% 12/17/2029 358.502/15/2026 2/15/2026 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 81.32 42 Attachment
1

Page 268 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/15/2026 2/15/2026 437921AD1 HAROT 2025-2 A3 4.15% 10/15/2029 138.332/15/2026 2/15/2026 14318UAD3 CARMX 2022-4 A3 5.34% 8/16/2027 131.952/15/2026 2/15/2026 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 55.822/15/2026 2/15/2026 14041NGF2 COMET 2025-A1 A 3.82% 9/15/2030 382.002/15/2026 2/15/2026 44933DAD3 HART 2022-C A3 5.39% 6/15/2027 59.012/15/2026 2/15/2026 65480WAD3 NAROT 2023-A A3 4.91% 11/15/2027 184.212/15/2026 2/15/2026 891941AD8 TAOT 2023-B A3 4.71% 2/15/2028 171.932/15/2026 2/15/2026 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 403.132/15/2026 2/15/2026 02582JKM1 AMXCA 2025-1 A 4.56% 12/17/2029 722.002/15/2026 2/15/2026 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 46.212/15/2026 2/15/2026 89231CAD9 TAOT 2022-C A3 3.76% 4/15/2027 17.142/15/2026 2/15/2026 89240KAD0 TAOT 2026-A A3 3.86% 9/16/2030 115.802/15/2026 2/15/2026 02008KAC7 ALLYA 2025-1 A3 3.96% 3/15/2030 132.002/15/2026 2/15/2026 44935CAD3 HART 2025-A A3 4.32% 10/15/2029 450.002/15/2026 2/15/2026 44934QAD3 HART 2024-B A3 4.84% 3/15/2029 504.172/15/2026 2/15/2026 14043YAD7 COPAR 2025-1 A3 3.85% 7/15/2030 144.372/15/2026 2/15/2026 02008FAC8 ALLYA 2024-1 A3 5.08% 12/15/2028 229.01 43 Attachment
1

Page 269 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/15/2026 2/15/2026 437918AC9 HAROT 2024-1 A3 5.21% 8/15/2028 460.092/15/2026 2/15/2026 14913UBB5 CATERPILLAR FINL SERVICE 4.10% 8/15/2028 2,050.002/15/2026 2/15/2026 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 22.162/15/2026 2/15/2026 92970QAJ4 WFCIT 2025-A1 A 4.34% 5/15/2030 632.922/15/2026 2/15/2026 44891XAD9 HART 2025-D A3 3.99% 9/16/2030 232.752/15/2026 2/15/2026 91282CMN8 US TREASURY N/B 4.25% 2/15/2028 12,750.002/15/2026 2/15/2026 14043QAC6 COPAR 2022-1 A3 3.17% 4/15/2027 6.712/15/2026 2/15/2026 34532BAG6 FORDO 2025-B A3 3.91% 4/15/2030 260.672/15/2026 2/15/2026 89237QAD2 TAOT 2024-C A3 4.88% 3/15/2029 386.332/15/2026 2/15/2026 91282CNU1 US TREASURY N/B 3.62% 8/15/2028 22,203.132/15/2026 2/15/2026 344930AD4 FORDO 2023-B A3 5.23% 5/15/2028 145.142/15/2026 2/15/2026 65481GAD7 NAROT 2025-A A3 4.49% 12/17/2029 392.882/15/2026 2/15/2026 448973AD9 HART 2024-A A3 4.99% 2/15/2029 194.432/15/2026 2/15/2026 539830CK3 LOCKHEED MARTIN CORP (CALLABLE) 4.15% 8/15/2028 2,270.972/15/2026 2/15/2026 02582JKP4 AMXCA 2025-2 A 4.28% 4/15/2030 499.332/15/2026 2/15/2026 34531QAD1 FORDO 2024-B A3 5.10% 4/15/2029 722.502/15/2026 2/15/2026 89238VAD0 TAOT 2025-C A3 4.11% 3/15/2030 274.00 44 Attachment
1

Page 270 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/15/2026 2/15/2026 89231HAD8 TAOT 2025-B A3 4.34% 11/15/2029 271.252/15/2026 2/15/2026 65479UAD0 NAROT 2024-A A3 5.28% 12/15/2028 725.222/15/2026 2/15/2026 14043GAD6 COPAR 2022-2 A3 3.66% 5/17/2027 24.592/15/2026 2/15/2026 89231GAD0 TAOT 2025-D A3 3.84% 6/17/2030 336.002/15/2026 2/15/2026 91282CLG4 US TREASURY N/B 3.75% 8/15/2027 18,281.252/15/2026 2/15/2026 34535EAD4 FORDO 2024-A A3 5.09% 12/15/2028 316.242/15/2026 2/15/2026 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 32.602/16/2026 2/16/2026 362955AD8 GMCAR 2025-1 A3 4.62% 12/17/2029 231.002/16/2026 2/16/2026 38013KAD2 GMCAR 2024-3 A3 5.13% 4/16/2029 384.482/16/2026 2/16/2026 36267KAD9 GMCAR 2023-3 A3 5.45% 6/16/2028 116.552/20/2026 2/20/2026 92868MAD1 VALET 2025-1 A3 4.50% 8/20/2029 356.252/20/2026 2/20/2026 92869QAD1 VALET 2025-2 A3 3.92% 3/20/2030 228.672/20/2026 2/20/2026 92348KDY6 VZMT 2025-3 A1A 4.51% 3/20/2030 432.212/21/2026 2/21/2026 43814VAC1 HAROT 2025-1 A3 4.57% 9/21/2029 533.172/22/2026 2/22/2026 023135BC9 AMAZON.COM INC (CALLABLE) 3.15% 8/22/2027 1,968.752/24/2026 2/24/2026 427866BK3 HERSHEY COMPANY (CALLABLE) 4.55% 2/24/2028 910.002/24/2026 2/24/2026 17275RBW1 CISCO SYSTEMS INC (CALLABLE) 4.55% 2/24/2028 796.25 45 Attachment
1

Page 271 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST2/25/2026 2/25/2026 63743HFZ0 NATIONAL RURAL UTIL COOP (CALLABLE) 4.15% 8/25/2028 1,245.002/25/2026 2/25/2026 096919AD7 BMWOT 2024-A A3 5.18% 2/26/2029 394.812/25/2026 2/25/2026 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 68.202/26/2026 2/26/2026 17275RBQ4 CISCO SYSTEMS INC (CALLABLE) 4.80% 2/26/2027 3,480.002/26/2026 2/26/2026 17275RBR2 CISCO SYSTEMS INC (CALLABLE) 4.85% 2/26/2029 2,425.002/28/2026 2/28/2026 91282CNV9 US TREASURY N/B 3.62% 8/31/2027 4,531.253/1/2026 3/1/2026 478160DH4 JOHNSON & JOHNSON (CALLABLE) 4.55% 3/1/2028 682.503/1/2026 3/25/2026 3137FBBX3 FHMS K068 A2 3.24% 8/1/2027 310.883/1/2026 3/25/2026 3137F64P9 FHMS K739 A2 1.33% 9/1/2027 217.683/1/2026 3/25/2026 3137F4X72 FHMS K075 A2 3.65% 2/1/2028 562.713/1/2026 3/25/2026 3137FCLD4 FHMS K071 A2 3.28% 11/1/2027 246.453/1/2026 3/25/2026 3137F4D41 FHMS K074 A2 3.60% 1/1/2028 283.703/1/2026 3/25/2026 3137FG6X8 FHMS K077 A2 3.85% 5/1/2028 320.833/1/2026 3/25/2026 3137H14B9 FHMS K743 A2 1.77% 5/1/2028 221.253/1/2026 3/25/2026 3137FETN0 FHMS K073 A2 3.35% 1/1/2028 209.373/1/2026 3/25/2026 3136BTGM9 FNA 2024-M6 A2 2.99% 7/1/2027 363.033/1/2026 3/25/2026 3137FBU79 FHMS K069 A2 3.18% 9/1/2027 231.33 46 Attachment
1

Page 272 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/1/2026 3/25/2026 3137FNWX4 FHMS K736 A2 2.28% 7/1/2026 190.333/1/2026 3/25/2026 3137FGZT5 FHMS K079 A2 3.92% 6/1/2028 572.543/1/2026 3/25/2026 3137BSP72 FHMS K058 A2 2.65% 8/1/2026 386.903/1/2026 3/25/2026 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 304.213/1/2026 3/25/2026 3137FAWS3 FHMS K067 A2 3.19% 7/1/2027 399.253/1/2026 3/25/2026 3137FEZU7 FHMS K076 A2 3.90% 4/1/2028 536.253/2/2026 3/2/2026 MONEY0002 MONEY MARKET FUND 0.00% 175.753/2/2026 3/2/2026 808513AQ8 CHARLES SCHWAB CORP (CALLABLE) 3.20% 3/2/2027 960.003/12/2026 3/12/2026 02665WFD8 AMERICAN HONDA FINANCE 4.90% 3/12/2027 1,960.003/14/2026 3/14/2026 437076BT8 HOME DEPOT INC (CALLABLE) 2.80% 9/14/2027 1,050.003/15/2026 3/15/2026 89240KAD0 TAOT 2026-A A3 3.86% 9/16/2030 144.753/15/2026 3/15/2026 89231HAD8 TAOT 2025-B A3 4.34% 11/15/2029 271.253/15/2026 3/15/2026 89237QAD2 TAOT 2024-C A3 4.88% 3/15/2029 386.333/15/2026 3/15/2026 14043GAD6 COPAR 2022-2 A3 3.66% 5/17/2027 15.653/15/2026 3/15/2026 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 368.573/15/2026 3/15/2026 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 39.833/15/2026 3/15/2026 91282CNY3 US TREASURY N/B 3.37% 9/15/2028 9,281.25 47 Attachment
1

Page 273 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/15/2026 3/15/2026 91282CLL3 US TREASURY N/B 3.37% 9/15/2027 3,375.003/15/2026 3/15/2026 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 68.503/15/2026 3/15/2026 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 43.843/15/2026 3/15/2026 89231CAD9 TAOT 2022-C A3 3.76% 4/15/2027 11.473/15/2026 3/15/2026 448981AD2 HART 2026-A A3 3.79% 2/18/2031 170.553/15/2026 3/15/2026 34535EAD4 FORDO 2024-A A3 5.09% 12/15/2028 297.273/15/2026 3/15/2026 44933DAD3 HART 2022-C A3 5.39% 6/15/2027 38.543/15/2026 3/15/2026 44935CAD3 HART 2025-A A3 4.32% 10/15/2029 450.003/15/2026 3/15/2026 65479UAD0 NAROT 2024-A A3 5.28% 12/15/2028 674.303/15/2026 3/15/2026 89238VAD0 TAOT 2025-C A3 4.11% 3/15/2030 274.003/15/2026 3/15/2026 34532BAG6 FORDO 2025-B A3 3.91% 4/15/2030 260.673/15/2026 3/15/2026 89231GAD0 TAOT 2025-D A3 3.84% 6/17/2030 336.003/15/2026 3/15/2026 44934QAD3 HART 2024-B A3 4.84% 3/15/2029 504.173/15/2026 3/15/2026 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 5.243/15/2026 3/15/2026 344930AD4 FORDO 2023-B A3 5.23% 5/15/2028 132.203/15/2026 3/15/2026 14318UAD3 CARMX 2022-4 A3 5.34% 8/16/2027 99.433/15/2026 3/15/2026 34531QAD1 FORDO 2024-B A3 5.10% 4/15/2029 722.50 48 Attachment
1

Page 274 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/15/2026 3/15/2026 437921AD1 HAROT 2025-2 A3 4.15% 10/15/2029 138.333/15/2026 3/15/2026 58933YBW4 MERCK & CO INC (CALLABLE) 3.85% 3/15/2029 648.083/15/2026 3/15/2026 448973AD9 HART 2024-A A3 4.99% 2/15/2029 182.213/15/2026 3/15/2026 02582JKP4 AMXCA 2025-2 A 4.28% 4/15/2030 499.333/15/2026 3/15/2026 63743HFG2 NATIONAL RURAL UTIL COOP (CALLABLE) 4.80% 3/15/2028 1,800.003/15/2026 3/15/2026 02582JKM1 AMXCA 2025-1 A 4.56% 12/17/2029 722.003/15/2026 3/15/2026 44891XAD9 HART 2025-D A3 3.99% 9/16/2030 232.753/15/2026 3/15/2026 65481GAD7 NAROT 2025-A A3 4.49% 12/17/2029 392.883/15/2026 3/15/2026 891941AD8 TAOT 2023-B A3 4.71% 2/15/2028 156.083/15/2026 3/15/2026 57636QBF0 MASTERCARD INC (CALLABLE) 4.55% 3/15/2028 1,137.503/15/2026 3/15/2026 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 27.383/15/2026 3/15/2026 65480WAD3 NAROT 2023-A A3 4.91% 11/15/2027 158.213/15/2026 3/15/2026 14043QAC6 COPAR 2022-1 A3 3.17% 4/15/2027 0.183/15/2026 3/15/2026 95000U4A8 WELLS FARGO & COMPANY (CALLABLE) 4.07% 9/15/2029 1,529.253/15/2026 3/15/2026 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 69.043/15/2026 3/15/2026 02008FAC8 ALLYA 2024-1 A3 5.08% 12/15/2028 212.023/15/2026 3/15/2026 91282CMS7 US TREASURY N/B 3.87% 3/15/2028 6,781.25 49 Attachment
1

Page 275 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/15/2026 3/15/2026 58773DAD6 MBART 2025-1 A3 4.78% 12/17/2029 358.503/15/2026 3/15/2026 14043YAD7 COPAR 2025-1 A3 3.85% 7/15/2030 144.373/15/2026 3/15/2026 14041NGF2 COMET 2025-A1 A 3.82% 9/15/2030 382.003/15/2026 3/15/2026 02008KAC7 ALLYA 2025-1 A3 3.96% 3/15/2030 132.003/15/2026 3/15/2026 92970QAJ4 WFCIT 2025-A1 A 4.34% 5/15/2030 632.923/15/2026 3/15/2026 437918AC9 HAROT 2024-1 A3 5.21% 8/15/2028 426.523/16/2026 3/16/2026 36267KAD9 GMCAR 2023-3 A3 5.45% 6/16/2028 105.633/16/2026 3/16/2026 362955AD8 GMCAR 2025-1 A3 4.62% 12/17/2029 231.003/16/2026 3/16/2026 38013KAD2 GMCAR 2024-3 A3 5.13% 4/16/2029 361.633/19/2026 3/19/2026 89236TLY9 TOYOTA MOTOR CREDIT CORP 5.00% 3/19/2027 1,250.003/20/2026 3/20/2026 92348KDY6 VZMT 2025-3 A1A 4.51% 3/20/2030 432.213/20/2026 3/20/2026 92868MAD1 VALET 2025-1 A3 4.50% 8/20/2029 356.253/20/2026 3/20/2026 92869QAD1 VALET 2025-2 A3 3.92% 3/20/2030 228.673/21/2026 3/21/2026 43814VAC1 HAROT 2025-1 A3 4.57% 9/21/2029 533.173/21/2026 3/21/2026 43815CAD0 HAROT 2026-1 A3 3.78% 9/23/2030 173.253/24/2026 3/24/2026 007903BJ5 ADVANCED MICRO DEVICES (CALLABLE) 4.31% 3/24/2028 1,619.633/25/2026 3/25/2026 096919AD7 BMWOT 2024-A A3 5.18% 2/26/2029 367.77 50 Attachment
1

Page 276 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
INTEREST3/25/2026 3/25/2026 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 60.033/30/2026 3/30/2026 440452AK6 HORMEL FOODS CORP (CALLABLE) 4.80% 3/30/2027 1,200.00 Total INTEREST 0.00 213,583.83 0.00
PAYDOWNS1/1/2026 1/25/2026 150.45 3137FBU79 FHMS K069 A2 3.18% 9/1/2027 150.45 4.021/1/2026 1/25/2026 208.50 3137F64P9 FHMS K739 A2 1.33% 9/1/2027 208.50 9.861/1/2026 1/25/2026 170.27 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 170.27 2.001/1/2026 1/25/2026 167.32 3137F4D41 FHMS K074 A2 3.60% 1/1/2028 167.32 2.621/1/2026 1/25/2026 127.70 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 127.70 1.121/1/2026 1/25/2026 1,390.83 3137FNWX4 FHMS K736 A2 2.28% 7/1/2026 1,390.82 20.381/15/2026 1/15/2026 1,968.24 89231CAD9 TAOT 2022-C A3 3.76% 4/15/2027 1,968.24 0.091/15/2026 1/15/2026 8,221.09 437918AC9 HAROT 2024-1 A3 5.21% 8/15/2028 8,221.09 0.201/15/2026 1/15/2026 2,944.77 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 2,944.77 0.131/15/2026 1/15/2026 3,235.71 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 3,235.71 0.211/15/2026 1/15/2026 2,543.19 14043QAC6 COPAR 2022-1 A3 3.17% 4/15/2027 2,543.19 0.141/15/2026 1/15/2026 6,910.87 65480WAD3 NAROT 2023-A A3 4.91% 11/15/2027 6,910.87 0.491/15/2026 1/15/2026 5,390.11 34535EAD4 FORDO 2024-A A3 5.09% 12/15/2028 5,390.11 0.58 51 Attachment
1

Page 277 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS1/15/2026 1/15/2026 1,546.28 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 1,546.28 0.071/15/2026 1/15/2026 4,750.21 44933DAD3 HART 2022-C A3 5.39% 6/15/2027 4,750.21 0.011/15/2026 1/15/2026 7,355.73 14318UAD3 CARMX 2022-4 A3 5.34% 8/16/2027 7,355.73 0.571/15/2026 1/15/2026 4,334.31 891941AD8 TAOT 2023-B A3 4.71% 2/15/2028 4,334.31 0.111/15/2026 1/15/2026 7,945.08 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 7,945.08 0.261/15/2026 1/15/2026 5,082.10 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 5,082.10 0.031/15/2026 1/15/2026 3,113.02 448973AD9 HART 2024-A A3 4.99% 2/15/2029 3,113.02 0.441/15/2026 1/15/2026 3,692.00 344930AD4 FORDO 2023-B A3 5.23% 5/15/2028 3,692.00 0.021/15/2026 1/15/2026 2,974.47 14043GAD6 COPAR 2022-2 A3 3.66% 5/17/2027 2,974.47 0.061/15/2026 1/15/2026 1,719.37 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 1,719.371/15/2026 1/15/2026 2,978.55 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 2,978.55 0.121/15/2026 1/15/2026 12,754.99 65479UAD0 NAROT 2024-A A3 5.28% 12/15/2028 12,754.99 0.791/15/2026 1/15/2026 4,256.67 02008FAC8 ALLYA 2024-1 A3 5.08% 12/15/2028 4,256.67 0.391/16/2026 1/16/2026 2,452.42 36267KAD9 GMCAR 2023-3 A3 5.45% 6/16/2028 2,452.42 0.051/16/2026 1/16/2026 64.07 38013KAD2 GMCAR 2024-3 A3 5.13% 4/16/2029 64.07 0.011/16/2026 1/16/2026 233.90 36265WAD5 GMCAR 2022-3 A3 3.64% 4/16/2027 233.901/25/2026 1/25/2026 7,098.90 096919AD7 BMWOT 2024-A A3 5.18% 2/26/2029 7,098.90 0.73 52 Attachment
1

Page 278 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS1/25/2026 1/25/2026 2,016.10 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 2,016.10 0.162/1/2026 2/25/2026 150.97 3137FBU79 FHMS K069 A2 3.18% 9/1/2027 150.97 3.852/1/2026 2/25/2026 167.93 3137F4D41 FHMS K074 A2 3.60% 1/1/2028 167.93 2.532/1/2026 2/25/2026 161.92 3137FNWX4 FHMS K736 A2 2.28% 7/1/2026 161.92 2.022/1/2026 2/25/2026 10,031.32 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 10,031.32 100.432/1/2026 2/25/2026 7,523.49 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 7,523.49 56.332/1/2026 2/25/2026 209.06 3137F64P9 FHMS K739 A2 1.33% 9/1/2027 209.06 9.432/15/2026 2/15/2026 1,654.83 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 1,654.832/15/2026 2/15/2026 7,499.16 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 7,499.16 0.232/15/2026 2/15/2026 5,114.60 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 5,114.60 0.032/15/2026 2/15/2026 7,732.66 437918AC9 HAROT 2024-1 A3 5.21% 8/15/2028 7,732.66 0.182/15/2026 2/15/2026 11,572.89 65479UAD0 NAROT 2024-A A3 5.28% 12/15/2028 11,572.89 0.702/15/2026 2/15/2026 4,472.30 34535EAD4 FORDO 2024-A A3 5.09% 12/15/2028 4,472.30 0.472/15/2026 2/15/2026 7,307.63 14318UAD3 CARMX 2022-4 A3 5.34% 8/16/2027 7,307.63 0.532/15/2026 2/15/2026 4,038.79 891941AD8 TAOT 2023-B A3 4.71% 2/15/2028 4,038.79 0.102/15/2026 2/15/2026 2,969.00 344930AD4 FORDO 2023-B A3 5.23% 5/15/2028 2,969.00 0.012/15/2026 2/15/2026 1,810.20 89231CAD9 TAOT 2022-C A3 3.76% 4/15/2027 1,810.20 0.08 53 Attachment
1

Page 279 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS2/15/2026 2/15/2026 2,759.25 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 2,759.25 0.172/15/2026 2/15/2026 3,045.60 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 3,045.60 0.122/15/2026 2/15/2026 4,557.98 44933DAD3 HART 2022-C A3 5.39% 6/15/2027 4,557.98 0.012/15/2026 2/15/2026 4,013.69 02008FAC8 ALLYA 2024-1 A3 5.08% 12/15/2028 4,013.69 0.362/15/2026 2/15/2026 2,939.03 448973AD9 HART 2024-A A3 4.99% 2/15/2029 2,939.03 0.412/15/2026 2/15/2026 2,930.59 14043GAD6 COPAR 2022-2 A3 3.66% 5/17/2027 2,930.59 0.062/15/2026 2/15/2026 2,469.27 14043QAC6 COPAR 2022-1 A3 3.17% 4/15/2027 2,469.27 0.132/15/2026 2/15/2026 6,354.85 65480WAD3 NAROT 2023-A A3 4.91% 11/15/2027 6,354.85 0.432/15/2026 2/15/2026 2,440.14 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 2,440.14 0.102/15/2026 2/15/2026 1,389.34 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 1,389.34 0.062/16/2026 2/16/2026 2,405.28 36267KAD9 GMCAR 2023-3 A3 5.45% 6/16/2028 2,405.28 0.042/16/2026 2/16/2026 5,343.96 38013KAD2 GMCAR 2024-3 A3 5.13% 4/16/2029 5,343.96 0.562/25/2026 2/25/2026 6,265.05 096919AD7 BMWOT 2024-A A3 5.18% 2/26/2029 6,265.05 0.632/25/2026 2/25/2026 1,791.26 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 1,791.26 0.143/1/2026 3/25/2026 205.90 3137F4D41 FHMS K074 A2 3.60% 1/1/2028 205.90 2.973/1/2026 3/25/2026 183.02 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 183.02 1.513/1/2026 3/25/2026 238.32 3137F64P9 FHMS K739 A2 1.33% 9/1/2027 238.32 10.23 54 Attachment
1

Page 280 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS3/1/2026 3/25/2026 395.18 3136BTGM9 FNA 2024-M6 A2 2.99% 7/1/2027 395.18 7.673/1/2026 3/25/2026 3,262.16 3137FNWX4 FHMS K736 A2 2.28% 7/1/2026 3,262.16 33.763/1/2026 3/25/2026 137.27 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 137.27 0.853/1/2026 3/25/2026 180.15 3137FBU79 FHMS K069 A2 3.18% 9/1/2027 180.15 4.383/15/2026 3/15/2026 69.42 14043QAC6 COPAR 2022-1 A3 3.17% 4/15/2027 69.39 -0.023/15/2026 3/15/2026 7,149.63 31680EAD3 FITAT 2023-1 A3 5.53% 8/15/2028 7,149.63 0.223/15/2026 3/15/2026 2,882.86 448973AD9 HART 2024-A A3 4.99% 2/15/2029 2,882.86 0.393/15/2026 3/15/2026 2,699.33 14043GAD6 COPAR 2022-2 A3 3.66% 5/17/2027 2,699.33 0.053/15/2026 3/15/2026 1,590.19 891940AC2 TAOT 2023-A A3 4.63% 9/15/2027 1,590.193/15/2026 3/15/2026 2,359.36 58768PAC8 MBART 2022-1 A3 5.21% 8/16/2027 2,359.36 0.143/15/2026 3/15/2026 4,207.97 34535EAD4 FORDO 2024-A A3 5.09% 12/15/2028 4,207.97 0.433/15/2026 3/15/2026 4,523.34 44933DAD3 HART 2022-C A3 5.39% 6/15/2027 4,523.34 0.013/15/2026 3/15/2026 3,000.32 344930AD4 FORDO 2023-B A3 5.23% 5/15/2028 3,000.32 0.023/15/2026 3/15/2026 7,389.09 437918AC9 HAROT 2024-1 A3 5.21% 8/15/2028 7,389.09 0.173/15/2026 3/15/2026 5,735.04 65480WAD3 NAROT 2023-A A3 4.91% 11/15/2027 5,735.04 0.373/15/2026 3/15/2026 1,649.96 89231CAD9 TAOT 2022-C A3 3.76% 4/15/2027 1,649.96 0.063/15/2026 3/15/2026 1,583.40 14318MAD1 CARMX 2022-3 A3 3.97% 4/15/2027 1,583.40 0.01 55 Attachment
1

Page 281 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
PAYDOWNS3/15/2026 3/15/2026 2,277.66 89237QAD2 TAOT 2024-C A3 4.88% 3/15/2029 2,277.663/15/2026 3/15/2026 2,207.83 344928AD8 FORDO 2023-A A3 4.65% 2/15/2028 2,207.83 0.093/15/2026 3/15/2026 6,062.49 34531QAD1 FORDO 2024-B A3 5.10% 4/15/2029 6,062.49 0.033/15/2026 3/15/2026 1,205.10 58770AAC7 MBART 2023-1 A3 4.51% 11/15/2027 1,205.10 0.053/15/2026 3/15/2026 3,055.14 41285JAD0 HDMOT 2023-A A3 5.05% 12/15/2027 3,055.14 0.113/15/2026 3/15/2026 3,814.83 891941AD8 TAOT 2023-B A3 4.71% 2/15/2028 3,814.83 0.093/15/2026 3/15/2026 3,858.45 02008FAC8 ALLYA 2024-1 A3 5.08% 12/15/2028 3,858.45 0.343/15/2026 3/15/2026 11,056.37 65479UAD0 NAROT 2024-A A3 5.28% 12/15/2028 11,056.37 0.653/15/2026 3/15/2026 6,942.05 14318UAD3 CARMX 2022-4 A3 5.34% 8/16/2027 6,942.05 0.483/16/2026 3/16/2026 5,568.09 38013KAD2 GMCAR 2024-3 A3 5.13% 4/16/2029 5,568.09 0.573/16/2026 3/16/2026 2,295.43 36267KAD9 GMCAR 2023-3 A3 5.45% 6/16/2028 2,295.43 0.043/25/2026 3/25/2026 5,711.83 096919AD7 BMWOT 2024-A A3 5.18% 2/26/2029 5,711.83 0.563/25/2026 3/25/2026 1,607.20 05592XAD2 BMWOT 2023-A A3 5.47% 2/25/2028 1,607.20 0.12 Total PAYDOWNS 334,023.64 334,023.60 292.15
SELL1/7/2026 1/8/2026 70,000.00 89236TMY8 TOYOTA MOTOR CREDIT CORP 4.60% 1/8/2027 70,611.10 630.781/8/2026 1/12/2026 600,000.00 91282CKR1 US TREASURY N/B 4.50% 5/15/2027 612,083.78 7,868.05 56 Attachment
1

Page 282 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date Par ($) CUSIP
Maturity
Date
Transact
Coupon Amount ($)
Yield
at Market
Realized
Security Description G/L (BV)
SELL1/16/2026 1/21/2026 105,000.00 882508CE2 TEXAS INSTRUMENTS INC (CALLABLE) 4.60% 2/8/2027 108,015.37 852.852/2/2026 2/4/2026 120,000.00 532457CJ5 ELI LILLY & CO (CALLABLE) 4.50% 2/9/2027 123,549.00 946.352/2/2026 2/4/2026 150,000.00 91282CKR1 US TREASURY N/B 4.50% 5/15/2027 153,250.59 1,766.522/2/2026 2/4/2026 200,000.00 91282CKV2 US TREASURY N/B 4.62% 6/15/2027 204,092.90 2,688.482/3/2026 2/6/2026 50,000.00 91282CKV2 US TREASURY N/B 4.62% 6/15/2027 51,033.98 670.282/9/2026 2/13/2026 25,000.00 91282CKV2 US TREASURY N/B 4.62% 6/15/2027 25,556.80 352.902/23/2026 2/27/2026 25,000.00 91282CKV2 US TREASURY N/B 4.62% 6/15/2027 25,589.55 284.812/23/2026 2/27/2026 50,000.00 91282CKV2 US TREASURY N/B 4.62% 6/15/2027 51,179.12 683.122/24/2026 3/2/2026 50,000.00 91282CKV2 US TREASURY N/B 4.62% 6/15/2027 51,186.45 558.783/2/2026 3/4/2026 100,000.00 91282CLG4 US TREASURY N/B 3.75% 8/15/2027 100,476.88 122.353/2/2026 3/4/2026 200,000.00 91282CKV2 US TREASURY N/B 4.62% 6/15/2027 204,687.24 2,128.043/2/2026 3/4/2026 225,000.00 91282CKZ3 US TREASURY N/B 4.37% 7/15/2027 228,810.13 1,270.813/2/2026 3/4/2026 150,000.00 91282CLG4 US TREASURY N/B 3.75% 8/15/2027 150,715.33 263.973/2/2026 3/4/2026 70,000.00 00724PAE9 ADOBE INC (CALLABLE) 4.85% 4/4/2027 72,175.48 774.103/3/2026 3/6/2026 80,985.12 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 80,564.81 198.453/3/2026 3/6/2026 60,738.84 3137BRQJ7 FHMS K057 A2 2.57% 7/1/2026 60,423.61 26.383/5/2026 3/10/2026 200,000.00 91282CLG4 US TREASURY N/B 3.75% 8/15/2027 200,867.15 37.76 57 Attachment
1

Page 283 of 313 ends

PFM Asset Management | pfmam.com

Page 284 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
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 sourcesexternal 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 toparticular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and indexcharacteristics 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 anysales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investmentperformance 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 opinionas 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 asactual 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 anddata 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 investmentadvisory 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. Theinformation 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. 59 Attachment
1

Page 285 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
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 bedifferences 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 governmentinvestment 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. 60 Attachment
1

Page 286 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
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 addedor 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 compoundingon 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 themortgage-backed security. 61 Attachment
1

Page 287 of 313 ends

PFM Asset Management | pfmam.com

CITY OF UKIAH, CALIFORNIA
For the Quarter Ended March 31, 2026
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 andmaturity 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, whosedecisions 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 periodfrom 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 timeperiod remaining until maturity, stated as a percentage on an annualized basis. 62 Attachment
1

Page 288 of 313 ends

pfmam.com
A Division of U.S. Bancorp Asset Management, Inc.

For Institutional Investor or Investment Professional Use Only – This material is not for inspection by, distribution to, or quotation to the general public City Ukiah
Investment Program Update
Presentation to the City Council
415-515-6389
Allison Kaune, Relationship Manager
June 3, 2026
Attachment 2

Page 289 of 313 ends

• Geopolitics has overtaken U.S. macro fundamentals as the market’s primary focus • Conflict in Iran has increased near-term inflation risks due to higher commodity prices
• Unemployment rate remains stable with net new job creation low • Consumer spending and business investment continue to support growth, though momentum is slowing
• The Federal Reserve is on pause, after cutting 0.75% in 2025, target rate at 3.50%-3.75%
• The median “dot plot” projection from March meeting show one 25 basis point cut in 2026, though individual projections showed less easing • At March meeting, Fed Chair Powell acknowledged the path forward is complicated by geopolitical uncertainty
• Rising yields unwound the inversion in the Treasury curve • Escalating Middle East conflict drove a spike in volatility • Credit spreads widened from historically tight levels amid heavy supply and geopolitical pressure
Market Themes
1 Source: Details on market themes and economic indicators provided throughout the body of the presentation. Bloomberg Finance L.P., as of March 31, 2026.

Attachment 2

Page 290 of 313 ends

Update on Iranian Conflict
Sources: Bloomberg Finance L.P. and AAA.com as of May 4, 2026. Price changes since February 27 2 th with a national gas price of $2.98/gallon. 0 10
20 30
40 50
26-Feb 5-Mar 12-Mar 19-Mar 26-Mar 2-Apr 9-Apr 16-Apr 23-Apr 30-Apr Strait of Hormuz Outbound Transits
$4.46
+$1.48 +49.7%
$6.11
Most expensive
California
$3.86
Least expensive
Georgia
Price Change since beginning of conflict
Pre-Conflict
National Average, per gallon
Attachment 2

Page 291 of 313 ends

The Federal Reserve’s Dual Mandate
3 Source: Bureau of Labor Statistics and Bloomberg Finance L.P., as of April 2026. .

3.8%

2.8%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%
Apr-24 Oct-24 Apr-25 Oct-25 Apr-26
Consumer Price Index
Year-over-year Change
CPI Core CPI
Apr ‘26

4.3%
3%
4%
5%
Apr-23 Apr-24 Apr-25 Apr-26
Unemployment Rate
Attachment 2

Page 292 of 313 ends

4 U.S. Growth Remains Resilient
Source: Bloomberg Finance L.P. and Bureau of Economic Analysis, as of March 2026 (left). Forecasts sourced from Bloomberg survey of private sector economists and bank/financial institutions after April 24, 2026, included in Median and forecast range. Shading represents the central 80% of the forecasts (right).

3.8% 4.4%

0.5%

2.0% 1.8% 2.0% 2.0%
-6%
-4%
-2%
0%
2%
4%
6%
8%
2025Q2 2025Q3 2025Q4 2026Q1 2026Q2 2026Q3 2026Q4
U.S. Real GDP Contributors and Detractors
Personal Consumption Fixed Investment
Private Inventories Net Exports
Gov't Expenditures
Attachment 2

Page 293 of 313 ends

Treasury Yields Move Higher
Source: Bloomberg Finance L.P., as of April 30, 2026. 5

3.00%

3.50%

4.00%

4.50%
Apr-25
Jul-25
Oct-25
Jan-26
Apr-26
2-Year U.S. Treasury Yield

3.67%

3.79%

3.94%

4.13%

4.32%

4.91%

3.00%

3.50%

4.00%

4.50%

5.00%

5.50%
Yield
Maturity
U.S. Treasury Yield Curve
1 Year Range March 31, 2026 December 31, 2025
3mo 2yr 5yr 7yr 10yr 20yr 30yr
Feb. 27
Attachment 2

Page 294 of 313 ends

City of Ukiah’s Investment Objectives
6 Safety
• High Quality
investments
• Diversification by
sector, issuer, and
maturity
Liquidity
• Cash flow
coordination with
the City
• Appropriate
allocation among
overnight and
invested balances
Return on
Investment
• Duration
management
• Active trading and
continual
evaluation of
relative value
among allowable
sectors
Attachment 2

Page 295 of 313 ends

City of Ukiah Portfolio Snapshot
as of March 31, 2026
7 Portfolio market value and charts include funds managed by PFMAM and balances in LAIF. Excludes accrued interest.

Yield at cost, yield at market, and average credit exclude LAIF.

Securities held in the City's portfolio are in compliance with California Government Code and the City's investment policy.

Portfolio Statistics
Market Value $21,266,036.35
Yield at cost 4.14%
Yield at market 4.04%
Average maturity (years) 2.38
Average Credit AA
Sector Allocation
Maturity Distribution
Credit Quality (S&P Ratings)
Local Agency
Investment
Fund
3%
U.S. Treasury
41%
Federal Agency
CMBS
9%
Municipal
Obligations
<1%
Asset-Backed
Security
19%
Corporate Note
28%
Not Rated
(LAIF)
3%
Not Rated by
S&P
6%
A
20%
AA
55%
AAA
13% BBB+
2%
7%
28%
48%
11%
7%
0%
10%
20%
30%
40%
50%
60%
0-1 year 1-2 years 2-3 years 3-4 years 4-5 years
Attachment 2

Page 296 of 313 ends

Portfolio Performance
8 Performance and interest earnings on trade-date basis, gross of PFMAM fees. Excludes funds invested in LAIF. Index data provided by Bloomberg Financial Markets.

Annualized Total Return
Duration Past
Year
Past 3
Years
Past 5
Years
Past 10
Years
City of Ukiah 1.79 4.19% 4.50% 2.24% 2.17%
Performance Benchmark
(1-3 Year U.S. Treasury Index) 1.76 3.75% 4.04% 1.86% 1.78% Difference - +0.44% +0.46% +0.38% +0.39%
Total Return
For Period Ending March 31, 2026
0%
1%
2%
3%
4%
5%
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-22
Mar-23
Jun-23
Sep-23
Dec-23
Mar-24
Jun-24
Sep-24
Dec-24
Mar-25
Jun-25
Sep-25
Dec-25
Mar-26
Portfolio Yield at Cost
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Annual Interest Earnings
12-Months Ended March 31
Attachment 2

Page 297 of 313 ends

• The inflation outlook depends on the duration of the Middle East conflict and the degree to which higher energy and commodity costs raise core goods and services prices.
• The labor market remains in its “low hire, low fire” environment. The Fed has framed the combination of limited job growth and a stable unemployment rate as an uncomfortable balance.
• While recession risk remains low, consumer sentiment continues to trend near alltime lows as labor market outlooks remain steady and headline inflation worsens. • Key factors in City’s investment strategy:
• Maintain broad diversification by sector, industry, and issuer • Continue to coordinate cash flow needs with City
• Carefully manage risk and maintain high credit quality Looking Ahead
9 Attachment 2

Page 298 of 313 ends

Disclaimer
The views expressed within this material constitute the perspective and judgment of U.S. Bancorp Asset Management, Inc. 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 current opinion as of the date of issue and are also subject to change. Opinions and data presented are not necessarily indicative of future events or expected performance. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. No representation is made as to its accuracy or completeness.

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.

NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
10 Attachment 2

Page 299 of 313 ends

1 CITY OF UKIAH

STATEMENT OF INVESTMENT POLICY
May 21, 2025May X, 2026
I. PURPOSE
The purpose of this document is to establish and organize investment policies, which will govern the investment activities of the City of Ukiah.

II. SCOPE
This investment policy covers all the City’s surplus funds and investments (except retirement funds and bond proceeds) and investment activities under the direction of the City.

Investment of bond proceeds will be governed by the provisions of relevant bond documents.

The investment policies of the City of Ukiah are based on state law and prudent money management practices. All funds will be invested in accordance with this Investment Policy and applicable California Government Codes, including § 53601 et seq.

III. OBJECTIVES
The primary objectives of the City, in order of priority, shall be:
1) Safety: Safety of principal is the foremost objective of the investment program.

Investments of the City shall be undertaken in a manner that seeks to ensure preservation of capital in the portfolio.
2) Liquidity: The investment portfolio of the City will remain sufficiently liquid to enable the City to meet its cash flow requirements.
3) Yield: The investment strategy of the City shall be to earn a reasonable investment return, considering current market conditions, and within the parameters set forth by priorities (1) and (2) above.

An adequate percentage of the portfolio shall be maintained in liquid, short-term securities that can be converted into cash if necessary to meet forecasted disbursement requirements.

The portfolio shall also be appropriately diversified to avoid unreasonable and avoidable risks regarding specific security types or individual financial institutions.

IV. POLICIES

1. Public Funds: It is the policy of the City of Ukiah to invest public funds in a manner which will provide the maximum safety and liquidity, while earning an investment return consistent with the objectives and parameters set forth by this policy.

Attachment 3

Page 300 of 313 ends

2 2. Prudent Investor Standard: Ukiah operates its investments program under the Prudent Investor Standard, which states that the governing body of the local agency or the persons authorized to make investment decisions on behalf of the local agency are trustees, and, therefore, subject to the Prudent Investor Standard. When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the agency.

3. Management Responsibilities: Management responsibility for the investment program is delegated, for a one-year period, subject to annual review and delegation, to the City Treasurer. The City Treasurer may further delegate day-to-day management of the investment program to a professional external investment advisor.

4. Internal Controls: A system of internal controls shall be established and documented in writing by the Finance Director. The controls shall be designed to prevent losses of public funds arising from fraud, employee error, misrepresentation of third parties, unanticipated changes in financial markets, or imprudent actions by employees and officers of the City of Ukiah. Controls deemed most important include:
minimization of opportunities for collusion, separation of duties, separation of transaction authority from accounting and recordkeeping, avoidance of bearer-form securities, specific limitations regarding securities losses and remedial actions, written confirmation of all transactions, minimizing the number of authorized investment officials, documentation of transactions and strategies, and proper review and approval of brokerage accounts and investment transactions.

5. Safekeeping, Custody, and Delivery: The City’s investments shall be held in safekeeping, in the name of the City of Ukiah, by a third party custodian bank.

Investment transactions shall be executed and settled using the “delivery vs. payment” method.

6. Reporting: The Finance Director shall review and have available monthly reports in the Finance Department, and available for public review, which shall include type of investment, issuer, purchase and maturity dates, rating, purchase price, par, current market value as of the date of the report and the source of this valuation, and yield to maturity. These reports shall include a list of all transactions during the past month.

The Investment Advisor will also deliver periodic market updates and portfolio reviews to the Finance Director. The Finance Director will deliver investment reports to the Investment Oversight Committee and City Council.

Attachment 3

Page 301 of 313 ends

3 The Oversight Committee will meet at least once annually in order to conduct a comprehensive review of the investment activities of the City so as to ensure that regulations are being adhered to and that strategies are being followed.

7. Conflict of Interest: In accordance with California Government Code sections 1090, et seq. and 87100, et seq., officers and employees of the City will refrain from any activity that could conflict with the proper execution of the investment program or which could impair their ability to make impartial investment decisions. All investment personnel shall comply with the reporting requirements of the Political Reform Act, to include the annual filing of Statements of Economic Interest.

8. Return on Investment: The City's investment portfolio shall be designed to attain a market-average rate of return through economic cycles. The Investment Oversight Committee will measure the portfolio against an appropriate benchmark.

9. Annual Review of Policy: The Investment Advisor shall review the Investment Policy annually and provide the City Manager and Finance Director with recommendations if any are needed. The Finance Director will present the Policy, and any recommended changes, to the Investment Oversight Committee and City Council. City Council will review the Policy and recommended changes at a public meeting.

V. AUTHORIZED INVESTMENTS
Generally, investments shall be made in the context of the Prudent Investor Standard. The City is further governed by applicable California Government Codes, including sections 53600 and 53601 et seq. Within the context of these regulations, the following investments are authorized, and further limited herein:
(a) Ukiah Bonds: Bonds issued by the City of Ukiah, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by the City or by a department, board, agency, or authority of the City. (b) U.S. Treasury Obligations: United States Treasury notes, bonds, bills, or certificates of indebtedness, or those for which the full faith and credit of the United States are pledged for payment of principal and interest. (c) California State Obligations: Registered state warrants or treasury notes or bonds of this state, including bonds payable solely out of the revenues from a revenueproducing property owned, controlled, or operated by the state or by a department, board, agency, or authority of the state.
(d) Non-California State Obligations: Registered treasury notes or bonds of any of the Attachment 3

Page 302 of 313 ends

4 other 49 United States in addition to California, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a state or by a department, board, agency, or authority of any of the other 49 United States in addition to California.
(e) Local Agency Obligations: Bonds, notes, warrants, or other certificates of indebtedness of any local agency within this state, including bonds payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by the state or by a department, board, agency, or authority of the state. (f) Federal Agency or Government Sponsored Enterprise Obligations: Federal agency or United States government-sponsored enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by Federal Agencies or United States Government Sponsored Enterprises.
(g) Bankers’ Acceptances: Bills of exchange or time drafts that are drawn on and accepted by a commercial bank. Purchases of bankers’ acceptances may not exceed 180 days maturity or 40% of the portfolio, and no more than 5% of the portfolio may be invested in the banker’s acceptance of any one commercial bank.

(h) Commercial Paper: Commercial paper of “prime” quality of the highest ranking or of the highest letter and number rating as provided for by a nationally recognized statistical-rating organization. The entity that issues the commercial paper shall meet all of the following conditions in either paragraph (1) or paragraph (2):
(1) The entity meets the following criteria: (a) is organized and operating in the United States as a general corporation; (b) has total assets in excess of five hundred million dollars ($500,000,000); and (c) has debt other than commercial paper, if any, that is rated in a rating category of “A” or its equivalent or higher by an NRSRO. (2) The entity meets the following criteria: (a) is organized within the United States as a special purpose corporation, trust, or limited liability company; (b) has programwide credit enhancements, including, but not limited to, over collateralization, letters of credit or surety bond; and (c) has commercial paper that is rated “A-1” or higher, or the equivalent, by an NRSRO.

Eligible commercial paper shall have a maximum maturity of 270 397 days.

Purchases of commercial paper may not exceed 25% of the City’s portfolio. No more than 5% of the portfolio may be invested in commercial paper of any one institution.

(i) Negotiable Certificates of Deposit: Negotiable certificates of deposit or deposit notes issued by a nationally or state-chartered bank, a state or federal savings and loan association, or a federally-licensed or state-licensed branch of a foreign bank provided that the senior debt obligations of the issuing institution are rated in a rating Attachment 3

Page 303 of 313 ends

5 category of "A"(long-term) or its equivalent or better or A-1 (short-term) or its equivalent or better by an NRSRO. Purchases of negotiable certificates of deposit may not exceed 30% of the portfolio, and no more than 5% of the City’s portfolio may be invested in any one financial institution.
(j) Repurchase Agreements: The City may invest in repurchase agreements with banks and dealers with which the City has entered into a master repurchase agreement. The maturity of repurchase agreements shall not exceed 365 days. The market value of securities used as collateral for repurchase agreements shall be valued at 102% or greater of the funds borrowed against those securities at all times and shall be monitored daily by the investment staff. In order to conform with provisions of the Federal Bankruptcy Code, which provide for the liquidation of securities held as collateral for repurchase agreements, the only securities acceptable as collateral shall be direct obligations of the United States or any agency of the United States as described in §V of this policy.

In addition, the City may enter into repurchase agreements only with “primary dealers” as designated by the Federal Reserve Bank of New York. All securities underlying Repurchase Agreements must be delivered to the City’s custodian bank (delivery vs. payment) or be handled under a properly executed “tri-party” repurchase agreement. The market value must be recalculated each time there is a substitution of collateral. The City or its trustee shall have a perfected first security interest under the Uniform Commercial Code in all securities subject to Repurchase Agreement.
(k) Reverse Repurchase Agreements: The City may invest in reverse repurchase agreements only with “primary dealers” with which the City has entered into a master repurchase agreement contract. The City may invest in reverse repurchase agreements with the following conditions:

Reverse repurchase agreements may be used only after prior approval of the City Council. The City may only use reverse repurchase agreements to (1) cover a temporary cash shortage, or (2) augment earnings. Reverse repos may not be used to leverage the portfolio. In addition:

If a reverse repurchase agreement is authorized, it may be utilized only if the security to be sold on a reverse repurchase agreement has been owned and fully paid for by the City for a minimum of 30 days prior to the sale; the total of all reverse repurchase agreements on investments owned by the City does not exceed 20% of the portfolio; and the agreement does not exceed a term of 92 days, unless the agreement includes a written codicil guaranteeing a minimum earning or spread for the entire period between the sale of the security using a reverse repurchase agreement and the final maturity date of the same security. The proceeds of the reverse repurchase agreement may not be invested in securities whose maturity exceeds the term of the Attachment 3

Page 304 of 313 ends

6 reverse repurchase agreement.
(l) Medium-term Notes: The City may invest in all corporate and depository institution debt securities with a maximum remaining maturity of five year or less, issued by corporations organized and operating within the United States, or by depository institutions licensed in the United States or any state and operating within the United States. Notes eligible for investment shall be rated in a rating category of “A” or its equivalent or better by an NRSRO. Purchase of corporate notes may not exceed 30% of the portfolio, and no more than 5% of the corporate notes in the portfolio may be invested in the same corporation.
(m) Money Market Funds: Shares of beneficial interest issued by diversified management companies that invest in the securities and obligations as authorized by California Government Code section 53601 subdivisions (a) to (k), inclusive, and subdivisions (m) to (q), inclusive and that are money market funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940. To be eligible for investment these companies shall either: (i) attain the highest ranking or highest letter and numerical rating provided by not less than two nationally recognized statistical rating organizations, or (ii) have an investment advisor registered or exempt from registration with the Securities and Exchange Commission with not less than five years experience managing money market mutual funds with assets under management in excess of five hundred million dollars ($500,000,000). The purchase price of shares of beneficial interest purchased shall not include any commission that these companies may charge and shall not exceed 20% of the City’s portfolio.
(n) Local Agency Investment Fund: The City may invest in the Local Agency Investment Fund (LAIF) established by the State Treasurer for the benefit of local agencies under §16429.1 of the Government Code. The maximum balance that can be held in the fund is the maximum amount permitted by LAIF’s Local Investment Advisory Board.
(o) Time Deposits: The City may invest in non-negotiable time deposits that are FDIC insured or fully collateralized in financial institutions located in California, including U.S. branches of foreign banks licensed to do business in California. To be eligible to receive local agency deposits, a financial institution must receive a minimum overall “satisfactory rating” for meeting the credit needs of California Communities in its most recent evaluation. All time deposits must be collateralized in accordance with the California Government Code § 53650, et seq. Since time deposits are not liquid, no more than 25% of the cost value of the portfolio may be invested in this category.
(p) Mortgage-Backed and Asset-Backed Securities: Any mortgage pass-through security, collateralized mortgage obligation, mortgage-backed or other pay-through Attachment 3

Page 305 of 313 ends

7 bond, equipment lease-backed certificate, consumer receivable pass-through certificate, or consumer receivable-backed bond. For securities eligible for investment under this subdivision not issued or guaranteed by an agency or issuer identified in subdivision (b) or (f) of this Policy section, the following limitations apply:
(1) the security shall be rated in a rating category of “AA” or equivalent or higher by an NRSRO and have a maximum remaining maturity of five years or less. (2) Purchase of securities authorized by this subdivision may not exceed 20% of the agency's surplus money that may be invested pursuant to this section. (q) Local Government Investment Pools (LGIPs). Shares of beneficial interest issued by a joint powers authority organized pursuant to Section 6509.7 that invests in the securities and obligations authorized in California Government Code section 53601 subdivisions (a) to (r), inclusive. Each share shall represent an equal proportional interest in the underlying pool of securities owned by the joint powers authority. To be eligible under this section, the joint powers authority issuing the shares shall have retained an investment adviser that meets all of the following criteria: (1) The adviser is registered or exempt from registration with the Securities and exchange Commission. (2) The adviser has not less than five years of experience investing in the securities and obligations authorized in subdivisions (a) to (q), inclusive. (3) The adviser has assets under management in excess of five hundred million dollars ($500,000,000).
(r) Supranational Debt. United States dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development, International Finance Corporation, or Inter-American Development Bank, with a maximum remaining maturity of five years or less, and eligible for purchase and sale within the United States. Investments under this subdivision shall be rated in a rating category of "AA" or its equivalent or better by an NRSRO and shall not exceed 30% of the portfolio.

Credit criteria listed in this section refers to the credit quality of the issuing organization at the time the security is purchased. The maturity limits are applied at the time of purchase. A security purchased in accordance with this Policy shall not have a forward settlement date exceeding 45 days from the time of investment.

VI. INELIGIBLE INVESTMENTS
The City may only invest in those obligations authorized by this policy. The City shall not invest any funds in inverse floaters, range notes, or interest-only strips that are derived from a pool of mortgages, or in any security that could result in zero interest accrual if held to maturity. However, the City may hold prohibited investments until their maturity dates.

Notwithstanding the prohibition in the above paragraph, the City may invest in securities issued by, or backed by, the United States government that could result in zero- or negativeAttachment 3

Page 306 of 313 ends

8 interest accrual if held to maturity, in the event of, and for the duration of, a period of negative market interest rates. The City may hold these instruments until their maturity dates. This paragraph shall remain in effect only until January 1, 20262031, and as of that date is repealed.

For purposes of the investment of idle City funds, the City shall not purchase securities or other investment instruments by firms explicitly and directly involved with the extraction and/or refinement of fossil fuel products (defined as follows: Fossil fuels are non-renewable energy sources, including coal, oil, and natural gas, formed from ancient organic matter that is extracted from the Earth’s crust and burned as fuel). Any investments currently held in the portfolio shall be sold when determined to be financially prudent to do so, negating any recognized or realized losses related to those specific investments.

VII. PORTFOLIO LIMITS AND DIVERSIFICATION

1. Maximum Investment Maturity: Unless otherwise noted within this investment policy, the City may not invest in a security with a maturity that exceeds five years from the date of purchase. For purposes of compliance with this Policy, an investment’s term or remaining maturity shall be measured from the settlement date to final maturity. Investments which exceed five years in maturity require authority granted by City Council before purchase. Written authority of the City Council must be granted specifically or as part of an investment program no less than three months prior to the date of purchase.

2. Maximum Weighted Average Maturity: The maximum weighted average maturity of the City’s investment portfolio shall not exceed 3 years to control overall exposure to interest rate risk.

3. Diversification: With the exception of obligations of the United States Government and its Agencies and authorized investment pools, no more than 10% of the portfolio may be invested in the securities of any single issuer, regardless of sector. For certain investment types, a 5% issuer limit is imposed and is stated in the investment description in the Authorized Investment section.

Adopted on the 21th xxth day of May 2025 2026 by the Ukiah City Council.

Signed: Attest:
__________________________ ____________________________ Douglas CraneSusan Sher, Mayor Kristine Lawler, City
Clerk
Attachment 3

Page 307 of 313 ends

________
PFM Asset Management is a division of U.S. Bancorp Asset Management, Inc.

NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
April 23, 2026
Memorandum
To: Dan Buffalo, Finance Director
Members of the Investment Oversight Committee
City of Ukiah
From: Monique Spyke, Managing Director
Allison Kaune, Relationship Manager
PFM Asset Management
RE: 2026 Investment Policy Review
As part of your annual review process, PFM Asset Management, a division of U.S. Bancorp Asset Management Inc., has completed its review of the City of Ukiah’s Investment Policy (the “Policy”).

The Policy remains in compliance with the statutes of California Government Code (the “Code”) that regulate the investment of public funds for local agencies.

Effective, January 1, 2026, after the passage of Senate Bills (“SB”) 827, 852, SB 595 and 858, several changes were made to California Government Code, impacting or related to the investment of public funds. Below we summarize the Code changes, by Senate Bill, and subsequent Policy recommendations, as appropriate.

SB 595 and 858 amended Code Section 53601, which governs the investment of public funds by local agencies, with the updates below.
• The maximum maturity for eligible commercial paper was extended from 270 days to 397 days. We have redlined this update into the City’s revised draft Policy for consideration. • In periods of low interest rates, law had authorized local agencies to invest in U.S. government securities that could result in zero-interest accrual if held to maturity until January 1, 2026. This provision was extended to January 1, 2031. The City’s Policy references the sunset date in Policy section VI. Ineligible Investment, and we have redlined this update into the City’s revised draft Policy.
• Local agencies with at least $100 million in investment assets are permitted to invest a maximum of 40% of its money in commercial paper. This provision was set to expire and revert to a maximum of 25% on January 1, 2026, but was extended to January 1, 2031.

The City does not meet the $100 million minimum threshold and the maximum allowed in commercial paper per Code and the Policy is 25%. No changes are needed to the City’s Policy to address this Code change.

Attachment 4

Page 308 of 313 ends

2 of 2
SB 827 revised Code Section 53238 et seq and is intended to enhance training requirements for certain local agency officials, including additional fiscal and financial training. The City’s Investment Policy does not address training requirements and so no change is necessary to the Investment Policy. However, we recommend that you review the new training requirements.

SB 852 is intended to strengthen transparency and ethics rules of the Political Reform Act by adding public officials who manage public investments to the list of individuals for whom the Fair Political Practices Commission (“Commission”) is the filing officer for statements of economic interest and requires those officials to file using the Commission’s electronic filing system. The City’s Policy does not address those who qualify as a filing officer and no change is necessary to the Investment Policy. However, we recommend that you review the Code change with your legal counsel, as needed, to understand if any changes need to be made to the City’s filing procedures.

Please let us know if you have any questions. Thank you.

Attachment 4

Page 309 of 313 ends

Page 1 of 1 ends

Agenda Item No: 14.b.

MEETING DATE/TIME: 6/3/2026

ITEM NO: 2026-982

AGENDA SUMMARY REPORT
SUBJECT: Receive Updates on City Council Committee and Ad Hoc Assignments, and, if Necessary, Consider Modifications to Assignments and/or the Creation/Elimination of Ad Hoc(s).

DEPARTMENT: City Clerk PREPARED BY: Kristine Lawler, City Clerk PRESENTER: Mayor Sher and Various Councilmembers
ATTACHMENTS:

1. 2026 City Council Special Assignments & Ad Hocs
Summary: City Council members will provide reports and updates on their committee and ad hoc assignments. If necessary, the Council may consider modifications.

Background: City Council members are assigned to a number of committees and ad hoc activities. These assignments are included as Attachment 1.

Discussion: Previously, the City Council discussed having more time allocated to reporting on committee and ad hoc activities. Often, the Council Reports section of the regular agenda is rushed due to impending business (i.e., public hearings), and not enough time is afforded for reports beyond community activities.

In an effort to foster regular updates on committee and ad hoc assignments, this item is being placed on the agenda to provide the City Council members an expanded opportunity to report on assignments and modify assignments as necessary.

Recommended Action: Receive report(s). The Council will consider modifications to committee and ad hoc assignments along with the creation/elimination ad hoc(s).

BUDGET AMENDMENT REQUIRED: N/A
CURRENT BUDGET AMOUNT: N/A
PROPOSED BUDGET AMOUNT: N/A
FINANCING SOURCE: N/A
REVENUE: No GRANT: No
PREVIOUS CONTRACT/PURCHASE ORDER NO.: N/A
COORDINATED WITH: N/A
STRATEGIC PLAN (SP): N/A
GENERAL PLAN ELEMENTS (GP): N/A

Page 310 of 313 ends

2026 CITY COUNCIL SPECIAL ASSIGNMENT LIST

LOCAL / UKIAH VALLEY MTG DATE/TIME MEETING LOCATION MAILING ADDRESS/CONTACT COMMITTEE FUNCTION ASSIGNED TO PRINCIPAL STAFF SUPPORT Investment Oversight Committee Varies
Civic Center
300 Seminary Ave.Ukiah, CA 95482
Civic Center300 Seminary Ave.Ukiah, CA 95482
Reviews City investments, policies, and strategies
CraneOrozco - Alternate
Alan Carter, Treasurer
Dan Buffalo, Director of Finance; 463-6220
[email protected]
Disaster Council
Shall meet a minimum of once a year at a time and place designated upon call of the chair Place designated upon call of the chair or, if she/he is unavailable or unable to call such meeting, the first vice chair and then the City Manager or her/his designee.

Office of Emergency Management
300 Seminary Ave. Ukiah, CA 95482467-5720 - Traci Boyl
Develop any necessary emergency and mutual aid plans, agreements, ordinances, resolutions, rules, and regulations.

OrozcoCriss - Alternate Traci Boyl, City Manager's Office Management Analyst; 467-5720; [email protected] Greater Ukiah Business & Tourism Alliance (GUPTA)
4th Monday of month, 10 a.m.
200 S School St.Ukiah, CA 95482
200 S School St.Ukiah, CA 95482
Promotes tourism and works to strengthen and promote the historic downtown and businesses within the greater Ukiah area Marianne Davison - Community Services Department Staff Orozco - Alternate Shannon Riley, Deputy City Manager;
467-5793 [email protected]
Mendocino County Inland Water and Power Commission (IWPC) 2nd Thursday of month, 6:00 p.m.

Civic Center
300 Seminary Avenue
conference room 5
IWPC Staff P.O. Box 1247Ukiah, CA 95482391-7574 - Candace Horsley Develops coordination for water resources and current water rights: Potter Valley project - Eel River Diversion
RodinOrozco - Alternate
Jared Walker, Director of Water Resources; 467-5712, [email protected] North Coast Opportunities (NCO) 4th Wednesday of month, 2 p.m. Alternating locations - Ukiah and Lakeport Governing Board Chair
North Coast Opportunities413 North State Street
Ukiah, CA 95482
Assist low income and disadvantaged people to become self reliant Neil Davis Neil Davis, City [email protected] Sun House Guild ex officio 2nd Tuesday of month, 10:30 a.m. Sun House 431 S. Main St. Ukiah, CA 431 S. Main Street Ukiah, CA 95482 467-2836 Support and expand Grace Hudson Museum Orozco, Sher Jake Burgess - Alternate David Burton, Museum Director; 467-2836 [email protected] Ukiah Men's Golf Club Liaison 1st Tuesday of month, 4 - 5 pm Golf Course Clubhouse 599 Park Blvd. Golf Course Clubhouse 599 Park Blvd [email protected] An association of male golfers who promote and support golf in Ukiah. Jake Burgess Jake Burgess, Community Services Director; 463- 6201, [email protected] Ukiah Valley Basin Groundwater Sustainability Agency (GSA) 2nd Thursday of month, 1:30 p.m.

Board of Supervisors Chambers; 501 Low
Gap RoadUkiah, CA
County Executive Office
501 Low Gap Rd., Rm. 1010Ukiah, CA 95482463-4441
GSA serves as the Groundwater Sustainability Agency in the Ukiah Valley basin CraneN/A - Alternate
Jared Walker, Director of Water Resources; 467-5712, [email protected]

MENDOCINO COUNTY MTG DATE/TIME MEETING LOCATION MAILING ADDRESS/CONTACT COMMITTEE FUNCTION ASSIGNED TO PRINCIPAL STAFF SUPPORT City Selection Committee Called as required by the Clerk of the Board BOS Conference Room 501 Low Gap Rd. Rm. 1090 Ukiah, CA C/O: BOS 501 Low Gap Rd., Rm 1090 Ukiah, CA 95482 463-4441 Makes appointments to LAFCO and Airport Land Use Commission (Mayor - Primary; Vice Mayor - Alternate) Mayor Sher Vice Mayor Orozco Kristine Lawler, City Clerk; 463-6217 [email protected] Economic Development & Financing Corporation (EDFC)
2nd Thursday of month, 2:00 p.m.

Primarily 631 S. Orchard Street (location varies)
Executive Director631 South Orchard AvenueUkiah, CA 95482467-5953 Multi-agency co-op for economic development and business loan program Riley (appointed 12/19/18) Shannon Riley, Deputy City Manager; 467-5793 [email protected] Library Advisory Board
3rd Wednesdays of alternate months; 1:00
p.m.

Various Mendocino County Libraries Ukiah County Library 463-4491 Review library policy and activities Sher Rodin - Alternate Kristine Lawler, City Clerk; 463-6217; [email protected] Mendocino County 1st District Liaison Monthly; TBD
Civic Center Annex
conference room #5411 West Clay St.Ukiah, CA 95482
Civic Center
300 Seminary Ave.Ukiah, CA 95482
To coordinate activities and policy development with the City's 1st District Supervisor Crane Rodin - Alternate
Sage Sangiacomo, City Manager;
463-6221; [email protected]
Mendocino County 2nd District Liaison 1st Wednesdays of month, 8:00 a.m.

Civic Center Annex
conference room #5411 West Clay St.Ukiah, CA 95482
Civic Center
300 Seminary Ave.Ukiah, CA 95482
To coordinate activities and policy development with the County's 2nd District Supervisor CrissRodin - Alternate
Shannon Riley, Deputy City Manager;467-5793 [email protected] Mendocino Council of Governments
(MCOG)
1st Monday of month, 1:30 p.m.

Board of Supervisors Chambers
501 Low Gap RoadUkiah, CA
Executive Director
367 N. State Street, Ste. 206
Ukiah, CA 95482
463-1859
Plan and allocate State funding, transportation, infrastructure and project County wide Criss Sher - Alternate
Tim Eriksen, Public Works Director/City Engineer;
463-6280 [email protected] Schlatter, Community Development Director; 463-6219; [email protected]
Mendocino County Airport Land Use Commission As needed
BOS Conference Room
501 Low Gap Rd., Rm. 1090,Ukiah, CA
Mendocino County Executive Office
501 Low Gap Rd. Rm. 1010 Ukiah, CA 95482
To formulate a land use compatibility plan, provide for the orderly growth of the airport and the surrounding area, and safeguard the general welfare of the inhabitants within the vicinity Liaisons: Owen/Schlatter
Greg Owen, Airport Manager; 467-2855; [email protected] Craig Schlatter, Director of Community
Development; 463-6219; [email protected]
Mendocino Local Area Formation Commission (LAFCo)
1st Monday of month, 9:00 a.m. Board of Supervisors Chambers Executive Director200 S. School Street, Ste. 2
Ukiah, CA 95482
463-4470
Required by legislation - planning spheres of influence, annexation, service areas, and special districts RodinCrane - Alternate for both city seat
members on Commission
Craig Schlatter, Director of Community Development; 463-6219; [email protected] Updated: 2/5/2026
Attachment 1

Page 311 of 313 ends

2026 CITY COUNCIL SPECIAL ASSIGNMENT LIST

MENDOCINO COUNTY
Continued MTG DATE/TIME MEETING LOCATION MAILING ADDRESS/CONTACT COMMITTEE FUNCTION ASSIGNED TO PRINCIPAL STAFF SUPPORT Mendocino Solid Waste Management Authority (MSWMA)
3rd Thursday of every other month (varies), 10:00 a.m.

Willits Council Chambers
Solid Waste Director3200 Taylor DriveUkiah, CA 95482468-9710 County-wide Solid Waste JPA Crane Sher - Alternate Tim Eriksen, Public Works Director/City Engineer; 463-6280 [email protected] Mendocino Transit Authority (MTA) Board of Directors
Last Wednesday of month, 1:30 p.m.

Alternating locations - Ukiah Conference Center or Fort Bragg, or Point Arena Executive Director241 Plant RoadUkiah, CA 95482462-1422 County-wide bus transportation issues and funding Sher Rodin - Alternate Tim Eriksen, Public Works Director/City Engineer; 463-6280 [email protected] Mendocino Youth Project JPA Board of Directors
3rd Wednesday of month, 7:45 a.m. 776 S. State Street Conference Room Mendocino Co. Youth Project776 S. State Street, Ste. 107Ukiah, CA 95482 707-463-4915 Targets all youth with a focus on drug and alcohol prevention, healthy alternatives and empowering youth to make healthy choices Criss Max Brazill, Admin Lieutenant - Alternate
Tom Corning, Police Chief; 463-6254;
[email protected]
Russian River Flood Control District (RRFCD) Liaison
1st Monday of month, 5:30 p.m.
151 Laws Ave.,Suite D Ukiah, CA
151 Laws Ave., Ukiah, CA 95482; [email protected]; 462-5278 Proactively manage the water resources of the upper Russian River for the benefit of the people and environment of Mendocino County Walker/Orozco Jared Walker, Director of Water Resources; 467-5712, [email protected]
Ukiah Players Theater Board of Directors
3rd Tuesday of month, 6:00 p.m
1041 Low Gap Rd Ukiah, CA 95482 462-1210
1041 Low Gap RdUkiah, CA 95482462-1210
To oversee the activities, organization and purpose of the Ukiah Players Theater Greg Owen, Airport Manager(appointed 12/19/18)
Kristine Lawler, City Clerk; 463-6217 [email protected] Ukiah Unified School District (UUSD) Committee Quarterly 511 S. Orchard, Ste. D Ukiah, CA 95482 511 S. Orchard Ukiah, CA 95482 Information exchange with UUSD Board Chair, Mayor, Superintendent, and City Manager Orozco, Criss Sage Sangiacomo, City Manager Tom Corning, Police Chief Sage Sangiacomo, City Manager; 463-6221 [email protected]

REGIONAL MTG DATE/TIME LOCATION MAILING ADDRESS/CONTACT COMMITTEE FUNCTION ASSIGNED TO PRINCIPAL STAFF SUPPORT Great Redwood Trail Agency (GRTA) Bi-monthly, 3rd Thursdays, 10:30 a.m. Various Locations - announced 419 Talmage Road, Suite M Ukiah, CA 95482 463-3280 Provides a unified and revitalized rail infrastructure meeting the freight and passenger needs of the region Rodin Sher- Alternate Jake Burgess, Community Services Director 463-6201, [email protected] League of California Cities Redwood Empire Legislative Committee Prior to Division Meetings, meets 3x in person and then via conference call Various locations that are announced
Redwood Empire League President; Public Affairs Program Manager (916) 658-8243 Elected city officials and professional city staff attend division meetings throughout the year to share what they are doing and advocate for their interests in Sacramento OrozcoCriss - Alternate
Sage Sangiacomo, City Manager; 463-6221
[email protected]
Russian River Watershed Association (RRWA)
4th Thursday of month, 9:00 a.m. (only 5 times a year)
Windsor Town Hall9291 Old Redwood Hwy, #400Windsor, CA 95492707-838-1000 Russian River Watershed Association 2235 Mercury Way, Suite 105Santa Rose, CA [email protected] 707-508-3670 (message only) Consider issues related to Russian river - plans projects and funding requests RodinSher - Alternate
Tim Eriksen, Public Works Director/City Engineer;
463-6280 [email protected]
Northern California Power Agency (NCPA) - Commission
4th Thursday of month, 9:00 a.m. (see NCPA calendar)
Roseville, CA and other locations
651 Commerce Drive Roseville, CA 95678916-781-4202
Pool of State and local power utilities developing and operating power generation, providing scheduling and related energy services and providing regulatory and legislative support.

Crane - Commissioner Sher - City Council Alternate Sauers - Alternate and Commissioner in absence of Commissioner Crane
Cindy Sauers - Electric Utility Director;463-6286 [email protected] Northern California Power Agency (NCPA) – Lodi Energy Center (LEC) Appointment 2nd Monday of month, 10:00 AM Lodi, CA and other locations 651 Commerce DriveRoseville, CA 95678916-781-4299
Committee oversees the operation, maintenance and expenditures of the LEC 300 MW generating project.

Sauers – Project Participate Appointee
Cindy Sauers, Electric Utility Director,463-6286, [email protected] Transmission Agency of Northern California (TANC)
4th Wednesday of month, 10 a.m. 35 Iron Point Circle Suite 225 Folsom, CA 35 Iron Point Cir #225Folsom, CA 95630916-852-1673; [email protected] Provide electric transmission to its Member utilities through transmission line ownership or contract arrangements.

CraneSauers - Alternate
Cindy Sauers - Electric Utility Director;
463-6286 [email protected]

STANDING COMMITTEES MTG DATE/TIME LOCATION MAILING ADDRESS/CONTACT COMMITTEE FUNCTION ASSIGNED TO PRINCIPAL STAFF SUPPORT Diversity and Equity TBD Virtual Meeting Room (link to be created) Civic Center 300 Seminary Ave. Ukiah, CA 95482 Improve diversity and equity in the City’s workforce and municipal services Orozco/Criss Traci Boyl, City Manager's Office Management Analyst; 467-5720; [email protected] Fire Executive Committee
2nd Tue, every other month beginning in January; 5:00 p.m.

Ukiah Valley Conference Center,200 S. School Street Ukiah, CA Civic Center300 Seminary Ave.Ukiah, CA 95482 [email protected] Per the recently adopted agreement between the City of Ukiah and the Ukiah Valley Fire Protection District Orozco/SherAlternates: Criss
Doug Hutchison, Fire Chief; 463-6263;
[email protected]
Countywide Oversight Board to the RDA Successor Agencies 4th Thursday of January, 4:00 p.m.; meets annually
Ukiah Valley Conference Center,200 S. School Street Ukiah, CA City of UkiahATTN: City Clerk300 Seminary Ave.Ukiah, CA 95482 Oversee and direct the Successor Agencies of the former redevelopment agencies Crane Dan Buffalo, Director of Finance; 463-6220 [email protected] Lawler, City Clerk; 463-6217, [email protected] Water Executive Committee(Ukiah Valley Water Authority) 1st Tue of each month
at 5:00 p.m.

Ukiah Valley Conference Center,200 S. School Street Ukiah, CA City of UkiahATTN: Water Resources 300 Seminary Ave.Ukiah, CA 95482 Oversight of UVWA; set annual budget for the combined water system; Manage rates and collect levies; modify existing water rights for the provision of water service; mediation and dispute resolution; Crane/Orozco Jared Walker, Director of Water Resources; 467-5712, [email protected] Updated: 2/5/2026

Page 312 of 313 ends

COMMITTEE ASSIGNED TO PRINCIPAL STAFF SUPPORT
Electric Grid Operational Improvements Crane/Orozco Cindy Sauers, Electric Utility Director; 463-6286 [email protected]
Advance Planning & Policy for Annexation
Applications Crane/Rodin
Craig Schlatter, Community Development Director
463-6219 [email protected]
UVSD/ City Relations
Ad hoc committee to address specific issues with the Ukiah Valley Sanitation District, including discussion of overall sewer system service delivery policies, operating policy revisions, potential revisions to the current Operating Agreement, and cost sharing
Crane/Orozco
Dan Buffalo, Director of Finance;
463-6220 [email protected]
Jared Walker, Water Resources Director
467-5712, [email protected]
Complete Streets Rodin/Crane
Tim Eriksen, Public Works Director/City Engineer;
463-6280 [email protected]
Shannon Riley, Deputy City Manager
467-5793 [email protected]
Jake Burgess, Community Services Director
463-6201 [email protected]
Special Districts (Water District Consolidation) Orozco/Crane Shannon Riley, Deputy City Manager 467-5793 [email protected]
Corp Yard Planning Crane/Orozco Jason Benson, Senior Civil Engineer 463-6284 [email protected]
Mendocino County Courthouse Project and Reuse Sher/Orozco Shannon Riley, Deputy City Manager 467-5793 [email protected]
City's 150-Year Anniversary Planning Orozco/Rodin Shannon Riley, Deputy City Manager 467-5793 [email protected]
Airport Policy Criss/Crane Craig Schlatter, Community Development Director 463-6219 [email protected]
Parks & Recreation Special District Exploration Rodin/Orozco Jake Burgess, Community Services Director 463-6201 [email protected]
Downtown Zoning Code Crane/Rodin Jesse Davis, Chief Planning Manager 463-6207, [email protected]
Tourism Advisory Committee Rodin/Sher Shannon Riley, Deputy City Manager 467-5793 [email protected]
Historic Preservation Code Sher/Criss Craig Schlatter, Community Development Director 463-6219 [email protected]
Fire Severity Rodin/Orozco Craig Schlatter, Community Development Director 463-6219 [email protected]
CalPERS Crane/Orozco Dan Buffalo, Director of Finance;
463-6220 [email protected]
City Council Handbook Review and Update Sher Kristine Lawler, City Clerk 463-6217; [email protected]
Energy Resilience Sher/Orozco Cindy Sauers, Electric Utility Director; 463-6286 [email protected]

2026 AD HOC COMMITTEES
*Note: Changing the composition of an existing ad-hoc among current councilmembers after work has begun presents potential Brown Act issues. Requests for fully filled ad-hocs are represented on the draft, but staff does not recommend changes except to fill vacated assignments. The current requests on the sheet for fully composed ad-hocs are primarily intended to convey interest in topics covered by these ad-hoc committees for possible future consideration of new assignments.

Updated: 3/19/2026

Page 313 of 313 ends

Ukiah City CouncilJune 3, 2026

Ukiah City Council
June 3, 2026