Agenda packet — Vallejo City Council, February 10, 2026 (part 1 of 3)

HYBRID MEETING
www.Cityofvallejo.net

CALL AND NOTICE OF REGULAR
MEETING AT 7:00 PM OF THE

VALLEJO CITY COUNCIL

FEBRUARY 10, 2026

COUNCILMEMBER MATIAS WILL BE

PARTICIPATING VIRTUALLY
The Westin Anaheim, Business Center
1030 West Katella Avenue
Anaheim, California 92802

Council Chambers
555 Santa Clara Street
Vallejo, CA 94590

COUNCIL MEMBERS
Andrea Sorce (Mayor)
Diosdado "JR" Matulac (Vice Mayor)
Peter Bregenzer
Helen-Marie Gordon
Tonia Lediju, PhD
Alexander Matias
Charles Palmares

NOTICE: Members of the Public will be able to participate in-person or remotely via Zoom
City Hall and the Council Chambers will be open to
members of the public 30 minutes prior to the start of
the meeting.

PUBLIC COMMENT: Members of the Public may provide
public comments during the City Council Meeting in
person or via ZOOM
(https://ZoomRegular.Cityofvallejo.net), or via
phone, by dialing (669) 900-6833.

For additional instructions on how to speak remotely
during public comment, please
visit, www.cityofvallejo.net/publiccomment
VIEW THE MEETING:

There are four different ways you can view this public meeting:
• In Person
• Watch Vallejo local channel 28
• Stream from the City
website: www.cityofvallejo.net/Streaming
• Join the Zoom webinar:
https://ZoomRegular.Cityofvallejo.net
Scan QR code for live captions and translation in Spanish and Tagalog.

Hybrid Options are available for members of the public to participate. To participate remotely

Option to Join by Computer
From your browser go to https://ZoomRegular.CityofVallejo.net to launch and join the zoom application.

Meeting ID: 914 0075 0676#
Meeting Password: 131313
Option to Join by Phone
Dial (669) 900-6833
Enter Meeting ID: 914 0075 0676#
Meeting Password: 131313
Press *9 to digitally raise your hand from the phone.

Press *6 to unmute/mute

Any supplemental writing related to an agenda item for an open session of a regular meeting that is distributed to all or a majority of all members of the City Council less than 72 hours before the meeting will be posted concurrently on the City’s website

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at www.cityofvallejo.net/agendas Written material distributed during the meeting, will be available at the meeting if prepared by the City or after the meeting if prepared by someone else. Such materials may be obtained from the City Clerk

Vallejo City Council Chambers ADA compliant. Devices for the hearing impaired are available from the City Clerk. Requests for disability related modifications or accommodations, aids or services may be made by a person with a disability to the City Clerk's office no less than 72 hours prior to the meeting as required by Section 202 of the Americans with Disabilities Act of 1990 and the federal rules and regulations adopted in implementation thereof

AGENDA

1. CALL TO ORDER

2. ROLL CALL

3. PLEDGE OF ALLEGIANCE

4. REPORT OUT OF CLOSED SESSION

5. PRESENTATIONS AND COMMENDATIONS
A. PRESENTATION OF A PROCLAMATION IN RECOGNITION OF BLACK HISTORY MONTH, FEBRUARY 2026

6. FIRST COMMUNITY FORUM
The Community Forum is an opportunity to address the Council on any matter for which another opportunity to speak is not provided on the agenda, and which is within the jurisdiction of the Council to resolve. Any interested members of the public desiring to communicate with the City Council as part of the First Community Forum may do so in person by signing in to the Public Speaker's kiosk located in the back of the Council Chambers or via ZOOM:(https://ZoomRegular.Cityofvallejo.net), Option to join by phone: Dial (669) 900-6833. Enter Meeting ID: 914 0075 0676#. Press * 9 to digitally raise your hand from the phone. Press *6 to unmute/mute. For additional instructions on how to speak remotely during public comment, please visit, www.cityofvallejo.net/publiccomment. In person speakers will be recognized first. When called upon, each speaker should step to the podium, state his/her name for the record. The conduct of the community forum shall be limited to a maximum of fifteen (15) minutes, with each speaker limited to a maximum of three minutes pursuant to Vallejo Municipal Code Section 2.02.300.

7. PUBLIC COMMENT REGARDING CONSENT CALENDAR ITEMS
Members of the public wishing to address the Council on Consent Calendar items may do so in person by signing in to the Public Speaker's kiosk located in the back of the Council Chambers or via ZOOM:(https://ZoomRegular.Cityofvallejo.net), Option to join by phone: Dial (669) 900-6833. Enter Meeting ID: 914 0075 0676#. Press * 9 to digitally raise your hand from the phone. Press *6 to unmute/mute. For additional instructions on how to speak remotely during public comment, please visit, www.cityofvallejo.net/publiccomment. In person speakers will be recognized first. Each speaker is limited to three minutes pursuant to Vallejo Municipal Code Section 2.02.310. Requests for removal of Consent Items received from the public are subject to approval by a majority vote of the Council. Items removed from the Consent Calendar will be heard immediately after approval of the Consent Calendar and Agenda

8. CONSENT CALENDAR AND APPROVAL OF AGENDA
A. APPROVAL OF MINUTES

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Recommendation: Approve minutes for the special and regular meetings of January 13 and the special meeting of January 21, 2026
Contact: Dawn G. Abrahamson, MMC, City Clerk (707) 648-4527 [email protected]
B. WAIVE FULL READING AND AUTHORIZING INTRODUCTIONS AND/OR

ADOPTION OF ORDINANCES BY TITLE ONLY
Recommendation: Waive reading and authorize introductions and/or adoption of any and all ordinances on this agenda, if any, by title only. This is a standard procedural action so the City Council does not have to read the ordinance in its entirity.

Contact: Dawn G. Abrahamson, MMC, City Clerk (707) 648-4527 [email protected]
C. CITY TREASURER’S QUARTERLY INVESTMENT REPORT
Recommendation: Accept the City Treasurer’s Investment Report for the quarter ended December 31, 2025
Contact: Florita Cruz, Assistant Finance Director, (707) 648-5542 [email protected]
D. ADOPT A RESOLUTION ACCEPTING THE FISCAL YEAR 2024 STAFFING

FOR ADEQUATE FIRE AND EMERGENCY RESPONSE (SAFER) GRANT

AWARD FROM THE FEDERAL EMERGENCY MANAGEMENT AGENCY
(FEMA) AND AUTHORIZING THE CITY MANAGER TO EXECUTE ALL

REQUIRED AGREEMENTS AND DOCUMENTS
Recommendation: Staff recommends that the City Council adopt a resolution accepting the Fiscal Year 2024 Staffing for Adequate Fire and Emergency Response (SAFER) Grant award from the Federal Emergency Management Agency (FEMA) and authorize the City Manager, or designee, to execute all required agreements and documents related to the grant.

Contact: Sidney Wilson, Administrative Analyst II
[email protected]
E. ADOPT RESOLUTION CONFIRMING AND CONSENTING TO COUNCIL

APPOINTMENTS TO VARIOUS COMMISSIONS, BOARDS AND
COMMITTEES FOR THE YEAR 2026
Recommendation: Adopt a resolution consenting to and confirming various appointments to Commissions, Boards and Committees for 2026.

Contact: Dawn G. Abrahamson, City Clerk, (707) 648-4528 [email protected]

9. ACTION CALENDAR
NOTICE: Members of the public wishing to address the Council on Action Calendar Items may do so in person by signing in to the Public Speaker's kiosk located in the back of the Council Chambers or via ZOOM (https://ZoomRegular.Cityofvallejo.net), or via phone, by dialing (669) 900-6833. Enter Meeting ID: 914 0075 0676#. Press *9 to digitally raise your hand from the phone. Press *6 to unmute/mute. For additional instructions on how to speak remotely during public comment, please visit www.cityofvallejo.net/publiccomment. Each speaker is limited to five minutes pursuant to Vallejo Municipal Code Section 2.02.420 or as approved and announced by the Mayor. In person speakers will be recognized first.

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A. (1) RECEIVE UPDATE ON UNHOUSED SITUATION, (2) PROVIDE DIRECTION TO STAFF ON CITY PROGRAMS, AND (3) AUTHORIZE THE CITY MANAGER TO ALLOCATE UP TO $1,000 FOR A PROGRAM FOR

LIVED EXPERIENCE STIPENDS
Recommendation: Receive an update on the unhoused situation and provide direction to staff on the City’s unhoused programs. Authorize the City Manager to allocate up to $1,000 for a program for lived experience stipends.

Contact: Natalie Peterson, Assistant to the City Manager [email protected]
B. DIRECT CITY STAFF TO SELECT THREE FIRMS, AS FOLLOWS: (A) GOVERNMENT PERFORMANCE & POLICY ANALYTICS, INC. (B)

SJOBERG EVASHENK CONSULTING (C) MACIS GINI & O'CONNELL, LLP., TO PERFORM VARIOUS AUDIT AND ASSESSMENT SERVICES ON

AN ON-CALL BASIS AND PROVIDE DIRECTION TO STAFF ON INITIAL

SPECIFIC SERVICES
Recommendation: Direct City staff to select three firms to perform various audit and assessment services on an on-call basis and provide direction on initial specific services.

Contact: Nalungo Conley, Assistant City Manager/Interim Finance Director [email protected]
C. PROVIDE NOTICE OF INTENT TO AMEND THE FISCAL YEAR 2025-26 BUDGET TO APPROPRIATE $11,500,000 OF MEASURE P FUNDING FOR:
1) THE BAY TRAIL/VINE TRAIL MAINTENANCE - $50,000; 2) FY 2026-27 PAVING PROGRAM (CONSTRUCTION) - $11,000,000; AND 3) CITYWIDE POTHOLE REPAIR SERVICES - $500,000 (STEP 1 OF 2)
Recommendation: Provide Notice of Intent to amend the Fiscal Year 2025-26 budget to appropriate $11,500,000 of Measure P funding for: 1) The Bay Trail/Vine Trail Maintenance - $50,000; 2) FY 2026-27 Paving Program (Construction) - $11,000,000; AND
3) Citywide Pothole Repair Services - $500,000 (STEP 1 OF 2).

Contact: Oscar Alcantar, Interim Public Works Director (707) 648-4433 [email protected]
D. DISCUSSION AND POSSIBLE DIRECTION TO STAFF ON FACILITATING

DIALOG AND PROGRESS REGARDING MARE ISLAND

INFRASTRUCTURE OPTIONS
Recommendation: Discuss and possibly provide direction to staff on facilitating dialog and progress regarding Mare Island infrastructure between three major stakeholder organizations, the City, Vallejo Flood and Wastewater District (VFWD), and Mare Island Company.

Contact:

Andrew Murray, City Manager (707) 648-4576
[email protected]

10. INFORMATION CALENDAR

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A. BROADWAY PROJECT MONTHLY UPDATE
Recommendation: This item is for informational purposes only. There is no staff report or action associated with this item
Contact: Gillian Haen, Assistant City Manager
[email protected]
B. FEDERAL FUNDING UPDATES AND IMPACTS TO THE CITY OF VALLEJO Recommendation: This item is for informational purposes only. There is no staff report or action associated with this item
Contact: Nalungo Conley, Assistant City Manager
[email protected]

11. CITY MANAGER’S REPORT

12. CITY ATTORNEY’S REPORT

13. COMMUNITY FORUM
Any interested members of the public desiring to communicate with the City Council as part of the last Community Forum may do so in person by signing in to the Public Speaker's kiosk located in the back of the Council Chambers or via ZOOM:(https://ZoomRegular.Cityofvallejo.net), Option to join by phone: Dial (669) 900-6833. Enter Meeting ID: 914 0075 0676#. Press * 9 to digitally raise your hand from the phone. Press *6 to unmute/mute. For additional instructions on how to speak remotely during public comment, please visit, www.cityofvallejo.net/publiccomment. In person speakers will be recognized first.

14. REQUEST & ACTIONS FOR FUTURE AGENDA ITEMS OR SPECIAL PROJECTS

15. REPORT OF THE PRESIDING OFFICER AND MEMBERS OF THE CITY COUNCIL

16. ADJOURNMENT

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ADDITIONAL CITY INFORMATION
Members of the public can:
• Like us on Facebook and Instagram (@cityofvallejo)
• Sign up to receive City Communications via e-mail (www.cityofvallejo.net/subscribe) • Sign up for emergency alerts at: alertsolano.com
Dated: Tuesday, February 3, 2026
Andrea Sorce, Mayor
I, Dawn Abrahamson, City Clerk do hereby certify that I have caused a true copy of the above notice and agenda to be delivered to

Andrea Sorce (Mayor)
Diosdado "JR" Matulac (Vice Mayor)
Peter Bregenzer
Helen-Marie Gordon
Tonia Lediju, PhD
Alexander Matias
Charles Palmares,

at the time and in the manner prescribed by law and that this agenda was posted at City Hall, 555 Santa Clara Street, CA at 5:00 p.m., Tuesday, February 3, 2026.

Dated: Tuesday, February 3, 2026

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PROCLAMATION
RECOGNIZING FEBRUARY 2026 AS BLACK HISTORY MONTH
WHEREAS, Black History Month serves as a celebration and a compelling reminder that Black history is American history; Black culture is American culture; and Black stories are interwoven into the fabric of America; and WHEREAS, the Association for the Study of African American Life and History has designated the 2026 theme, A Century of Black History Commemorations, to celebrate 100 years of formally recognizing Black history in the U.S. as established by Dr. Carter B. Woodson; and
WHEREAS, as part of the global African diaspora, people of African ancestry in the United States have viewed their role in history as critical to their own development and that of the world. Along with writing Black histories, antebellum Black scholars north of slavery started observing the milestones in the struggle of people of African descent to gain their freedom and equality; and
WHEREAS, Dr. Woodson focused the attention of the American public on the scientific findings of historians, to turn the commemorations more forthrightly into a far-reaching, organized, and sustained effort to transform how Black people viewed themselves and how the world viewed them. H e built Negro History Week into an African American and American cultural institution. He set the themes and provided materials to illustrate the contributions people of African descent made to history and modern culture; and WHEREAS, this year, as we commemorate the 250th anniversary of United States independence, it is imperative to tell a history that is inclusive and accurate. We have never had a greater need to elevate the role of Black History Month than we do when forces weary of democracy seek to use legislative means and book bans to erase Black history from America’s schools and public culture. Black history’s value is not its contribution to mainstream historical narratives, but its resonance in the lives of Black people.

NOW, THEREFORE, BE IT PROCLAIMED , that I, Andrea Sorce, Mayor of the City of Vallejo and the Vallejo City Council do hereby proclaim February 2026 as BLACK HISTORY MONTH and encourage all residents to recognize, celebrate, and commemorate Black heritage and culture and continue our efforts to create a world that is more just, peaceful, and prosperous for all.

Dated: February 10, 2026

Vice Mayor Diosdado ‘JR’ Matulac, District 2
Council Member Peter Bregenzer, District 5
Council Member Helen-Marie Gordon, District 6
Council Member Tonia Lediju, District 3
Council Member Alexander Matias, District 1
Council Member Charles Palmares, District 4

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Special City Council Meeting Minutes
January 13, 2026
Page | 1

VALLEJO CITY COUNCIL

SPECIAL MEETING MINUTES
JANUARY 13, 2026

COUNCIL CHAMBERS
555 Santa Clara Street, Vallejo, California

1. CALL TO ORDER

The meeting was called to order at 5:02 p.m.

2. ROLL CALL

Present: Mayor Sorce, Vice Mayor Bregenzer, Councilmembers Gordon, Lediju (arrived at 5:50 p.m.), Matias (arrived at 5:12 p.m.), Matulac, and Palmares

Absent: None
Staff present: City Manager Murray, City Attorney Nebb, City Clerk Abrahamson, Assistant City Managers Conley and Haen, Chief Assistant City Attorney Risner, Assistant City Attorneys Knight and Jackson, Deputy City Attorney II Limbach, Risk Administrative Analyst II Smith, and Human Resources Director Sifuentes

Chief Assistant City Attorney noted Council would not be considering Closed Session Item 3D but would be considering Closed Session Item 3F.

Speakers: Kevin J., David Marsteller Jr. and Ravi Shankar.

The City Council convened into Closed Session in the Council Conference Room at 5:12 p.m.

3. CLOSED SESSION
A. Liability Claim: James Oakley III, as an individual and as successor-in interest to the Estate of James Edward Oakley II v. City of Vallejo, Pursuant to Government Code Section 54956.95
B. Liability Claim: Taneka Bennion, as an individual and as successor-in interest to the Estate of James Edward Oakley II v. City of Vallejo, Pursuant to Government Code Section 54956.95
C. Conference with Legal Counsel – Existing Litigation Pursuant to California Government Code section 54956.9(d)(1): Joe Gomez v. City of Vallejo, Solano County Superior Court, Case No. CU25-03771
D. CONFERENCE WITH REAL PROPERTY NEGOTIATORS Pursuant to Government Code Section 54956.8
Property: 285 Mare Island Way, Vallejo, CA
Agency Negotiator: Gillian Haen, Assistant City Manager Negotiating Parties:

Wendy Stevenson Under Negotiation: Price and Terms of Payment of Lease E. CONFERENCE WITH LABOR NEGOTIATORS Pursuant to Government Code Section 54957.6
Agency Designated Representatives: Andrew Murray, City Manager and

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Special City Council Meeting Minutes
January 13, 2026
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Stephanie Sifuentes, Human Resources Director
Employee Organizations: Vallejo Police Officers Association (VPOA), International Association of Firefighters, Local 1186 (IAFF), Confidential, Administrative, Managerial, Professional Association (CAMP), and Unrepresented Employees
F. CONFERENCE WITH REAL PROPERTY NEGOTIATORS Pursuant to Government Code Section 54956.8
Property: 285 Mare Island Way, Vallejo, CA Agency
Negotiator: Gillian Haen, Assistant City Manager
Negotiating Parties: Wendy Stevenson; Kevin Jones
Under Negotiation: Price and Terms of Payment of Lease

4. ADJOURNMENT

The meeting adjourned at 6:44 p.m.

________________________________

ANDREA SORCE, MAYOR

ATTEST:

_________________________________
DAWN G. ABRAHAMSON, CITY CLERK

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Special City Council Meeting Minutes
January 13, 2026
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Special Successor Agency Meeting Minutes
January 13, 2026
Page | 1

VALLEJO CITY COUNCIL AS THE

GOVERNING BODY OF THE

SUCESSOR AGENCY TO THE

FORMER VALLEJO REDEVELOPMENT AGENCY

SPECIAL MEETING MINUTES
JANUARY 13, 2026

COUNCIL CHAMBERS
555 Santa Clara Street, Vallejo, California

1. CALL TO ORDER

The meeting was called to order at 6:48 p.m.

2. ROLL CALL

Present: Mayor Sorce, Vice Mayor Bregenzer, Councilmembers Gordon, Lediju, Matias, Matulac, and Palmares

Absent: None
Staff present: City Manager Murray, Chief Assistant City Attorney Risner and City Clerk Abrahamson

3. PRESENTATIONS AND COMMENDATIONS – None.

4. CONSENT CALENDAR AND APPROVAL OF AGENDA
Action: moved by Vice Mayor Bregenzer and carried unanimously to approve the Agenda.

5. ACTION CALENDAR
A. ADOPT A RESOLUTION APPROVING THE PROPOSED SUBORDINATION

AGREEMENT TO THE AFFORDABLE HOUSING COVENANT TO ALLOW

FOR THE REFINANCING AND REHABILITATION OF MARINA TOWERS

ANNEX, A SENIOR HOUSING PROJECT
Recommendation: Adopt a Resolution approving the proposed subordination agreement to the affordable housing covenant to allow for the refinancing and rehabilitation of Marina Towers Annex, a senior housing project.

Contact: Alicia M. Jones, Housing Director (707) 648-4408 [email protected]

Assistant City Manager Haen provided background information, outlined the proposal, discussed the annex rehab work, and outlined the recommendation.

Evan Lewis (Vitus) provided an overview of the rehabilitation project.

Staff and Mr. Lewis responded to questions from Councilmembers.

Councilmembers provided comment

Action: moved by Vice Mayor Bregenzer and carried unanimously to adopt Resolution No. 26-001 and directed staff to provide the following updates to

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Special Successor Agency Meeting Minutes
January 13, 2026
Page | 2
Council: (1) quarterly updates on capital assessment management and 2) regular updates on resident engagement and construction progress.

6. ADJOURNMENT

The meeting adjourned at 7:18 p.m.

________________________________

ANDREA SORCE, MAYOR

ATTEST:

_________________________________
DAWN G. ABRAHAMSON, CITY CLERK

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Regular City Council Meeting Minutes
January 13, 2026
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VALLEJO CITY COUNCIL

REGULAR MEETING MINUTES
JANUARY 13, 2026

COUNCIL CHAMBERS
555 Santa Clara Street, Vallejo, California

1. CALL TO ORDER

The meeting was called to order at 7:30 p.m.

2. ROLL CALL

Present: Mayor Sorce, Vice Mayor Bregenzer, Councilmembers Gordon, Lediju, Matias, Matulac, and Palmares

Absent: None
Staff present: City Manager Murray, Chief Assistant City Manager Risner and City Clerk Abrahamson

3. PLEDGE OF ALLEGIANCE

4. REPORT OUT OF CLOSED SESSION

Chief Assistant City Attorney Risner reported the following:

• Closed Session Item 3A – Council provided direction to staff. • Closed Session Item 3B – Council provided direction to staff. • Closed Session Item 3C – Council provided direction to its legal counsel. • Closed Session Item 3D – Council provided direction to its real property negotiators.
• Closed Session Item 3E – Council provided direction to its labor negotiators. • Closed Session Item 3F – Council provided direction to its real property negotiators.

5. SELECTION OF VICE MAYOR
A. ADOPTION OF A RESOLUTION ELECTING AND APPOINTING A MEMBER OF THE CITY COUNCIL TO SERVE AS VICE MAYOR FOR 2026
Recommendation: Adopt a Resolution electing and appointing a Vice Mayor to serve from January 13, 2026 to January 5, 2027
Contact: Dawn G. Abrahamson, City Clerk, (707) 648-4528 [email protected]

Following a discussion regarding the process of selecting a vice mayor, Mayor Sorce requested nominations from councilmembers.

Councilmember Bregenzer nominated Councilmember Matulac to serve as Vice Mayor for 2026.

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Councilmember Gordon nominated Councilmember Palmares to serve as Vice Mayor for 2026.

Action: moved by Councilmember Bregenzer and carried to adopt Resolution No. 26-001 N.C., a resolution electing Councilmember Matulac as Vice Mayor for January 2026 to January 2027 (Noes: Gordon)

6. PRESENTATIONS AND COMMENDATIONS
A. VALLEJO YOUTH DELEGATION PRESENTATION: THE NATIONAL

LEAGUE OF CITIES CITY SUMMIT CONFERENCE IN SALT LAKE CITY, UTAH

7. FIRST COMMUNITY FORUM
Speakers: Linda Rosneer, Fabice Moschetti, David Marsteller, Jr., Tina Arriola, and Ashley Epes.

8. PUBLIC COMMENT REGARDING CONSENT CALENDAR ITEMS
Speakers: Anne Carr (Item 9C) and Adjoa McDonald (Item 9D).

9. CONSENT CALENDAR AND APPROVAL OF AGENDA
Action: moved by Vice Mayor Matulac and carried unanimously, unless otherwise noted, approval of the Agenda and the Consent Calendar with the removal of Item 9F making it Item 9.1.

A. WAIVE FULL READING AND AUTHORIZING INTRODUCTIONS AND/OR

Contact: Dawn G. Abrahamson, MMC, City Clerk (707) 648-4527 [email protected]
Action: waived reading and authorized introductions and/or adoption of any and all ordinances on this agenda, if any, by title only. This is a standard procedural action so the City Council does not have to read an ordinance in its entirety.

B. RESOLUTION AMENDING FISCAL YEAR 2025-26 BUDGET TO
REALLOCATE PARTICIPATORY BUDGETING FUNDS (STEP 2 OF 2)
Recommendation: Adopt a resolution amending the Fiscal Year 2025-2026 budget to reallocate Participatory Budgeting funding totaling $329,798.70.

Contact: Jason Ackley, Assistant to the City Manager(707) 648-4577 [email protected]
Action: adopted Resolution No. 26-002 N.C.

C. NOTICE OF INTENT TO AMEND THE FISCAL YEAR 2025-2026 BUDGET TO RECOGNIZE AND APPROPRIATE $1,277,604.06 OF INSURANCE

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Regular City Council Meeting Minutes
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SETTLEMENT FUNDS FOR FARRAGUT SCHOOL PROPERTY (STEP 1 OF 2)
Recommendation: Notice of Intent to amend the Fiscal Year 2025-2026 budget to recognize and appropriate $1,277,604.06 of insurance settlement funds for Farragut School property. (Step 1 of 2)
Contact: Oscar Alcantar, Interim Public Work Director, 707-648-4433 [email protected]
Action: provided notice of Intent to amend the Fiscal Year 2025-2026 budget to recognize and appropriate $1,277,604.06 of insurance settlement funds for Farragut School property. (Step 1 of 2)
D. ADOPT A RESOLUTION AMENDING THE GENERAL FUND FISCAL YEAR 2025-2026 BUDGET TO RECOGNIZE $1,988,563 OF REVENUE FROM THE PROPOSITION 47 GRANT PROGRAM: SAFE NEIGHBORHOODS AND
SCHOOLS ACT COHORT 5 GRANT AGREEMENT WITH THE CALIFORNIA BOARD OF STATE AND COMMUNITY CORRECTIONS (STEP 2 OF 2)
Recommendation:

Adopt a resolution amending the General Fund Fiscal Year 2025-2026 budget to recognize $1,988,563 in revenue from the Proposition 47 Safe Neighborhoods and Schools Act Grant and to appropriate corresponding expenditures to fund the City’s community-based, trauma-informed programs for justice-involved residents.

Contact: Sidney Wilson, Administrative Analyst II
[email protected]

Action: adopted Resolution No. 26-003 N.C.

E. ADOPT A RESOLUTION TO AUTHORIZE CITY MANAGER TO EXECUTE

THE FIRST AMENDMENT TO THE DESIGN PROFESSIONAL SERVICES AGREEMENT WITH GARAVAGLIA ARCHITECTURE, INC. INCREASING THE CONTRACT BY $12,655 FOR A NOT-TO-EXCEED AMOUNT OF
$232,015 FOR THE ADMIRAL’S MANSION/QUARTERS A

REHABILITATION PROJECT
Recommendation: Adopt resolution to authorize City Manager to execute the First Amendment to the Design Professional Services Agreement with Garavaglia Architecture Inc. increasing the contract by $12,655 for a not-to- exceed amount of $232,015.

Contact: Gillian Haen, Assistant City Manager/Interim Economic Development Director
[email protected]
Action: adopted Resolution No. 26-004 N.C.

F. APPROVE A SIDE LETTER AGREEMENT BETWEEN THE CITY OF

VALLEJO AND THE VALLEJO POLICE OFFICERS' ASSOCIATION (VPOA),

FOR ONE RETIRED ANNUITANT

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Recommendation: Staff recommends adopting a resolution approving the side letter agreement between the City and VPOA to allow one retired annuitant to be hired to assist with CADOJ reforms.

Contact: Stephanie Sifuentes, Human Resources Director (707) 649-4852 [email protected]
Action: item was removed from the Consent Calendar at the request of Councilmember Bregenzer.

Staff provided background information on the item.

Action: moved by Vice Mayor Matulac and carried unanimously to adopt Resolution No. 26-005 N.C.

10. ACTION CALENDAR
A. CONSIDER A MOTION TO RECONSIDER THE CITY COUNCIL ACTION TAKEN AT THE DECEMBER 16, 2025 COUNCIL MEETING REGARDING ADOPTION OF A RESOLUTION APPROVING THE AB 1600 ANNUAL

DEVELOPMENT IMPACT FEE REPORTS FOR THE NEIGHBORHOOD
PARKS IMPACT MITIGATION FEE FUND 137, TRANSPORTATION IMPACT MITIGATION FEE FUND 203, AND THE HIDDENBROOKE OVERPASS
MITIGATION FEE FUND 211 FOR THE FISCAL YEAR ENDED JUNE 30, 2025
Recommendation: The Council is asked to reconsider the action taken at its meeting on December 16, 2025, which failed to adopt a Resolution approving the AB 1600 annual development impact fee reports for the Neighborhood Parks Impact Mitigation Fee Fund 137, Transportation Impact Mitigation Fee Fund 203, and the Hiddenbrooke Overpass Mitigation Fee Fund 211 for the fiscal year ended June 30, 2025.

Contact: Oscar Alcantar, Interim Public Works Director (707) 648-4433 [email protected]

Chief Assistant City Attorney Risner provided an overview of the Council’s Rules of Order and Debate for reconsidering action taken at a prior meeting.

Action: no action was taken as there was not a motion to reconsider from Councilmembers on the prevailing side of the vote taken on December 16, 2025.

B. PROVIDE DIRECTION TO STAFF REGARDING REQUEST FROM THE

VALLEJO-SOLANO CONTINUUM OF CARE (COC) TO PAUSE
ENCAMPMENT CLEAN-UPS IN ADVANCE OF THE 2026 POINT-IN-TIME (PIT) COUNT
Recommendation: Provide City Council direction on the request to pause encampment clean-ups in advance of the 2026 Point-In-Time (PIT) Count Contact: Natalie Peterson, Assistant to the City Manager [email protected]

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Assistant to the City Manager Peterson provided an overview of the Point-In- Time (PIT) process, presented the request from Vallejo-Solano Continuum of Care (CoC) Board, shared addressing public health concerns if the temporary pause request is approved by Council, and outlined council options for consideration.

Speakers: Eli Smith, Shawn OMalley, Anne Carr, Paul Theiss, Cristal Gallegos, The People, Lila Walton, Melvin Cowan, and an unidentified member of the public.

Staff and Barbara Simpson (4th Second) responded to questions from Councilmembers. Councilmembers provided comment.

Action: moved by Councilmember Matias and carried, the City Council approved a pause on encampment clean-ups/removals and vehicle enforcement in advance of the Point-in-Time (PIT) Count through February 15.

During this period, the City of Vallejo will take the lead in coordinating outreach efforts. City staff are directed to resume encampment clean-ups thereafter and to return to the City Council at the beginning of next month with a proposed plan that includes service provisions and coordinated clean-up efforts in partnership with Recology.

The motion included a friendly amendment offered by Councilmember Gordon and accepted by Councilmember Matias (the maker of the motion) directing staff to provide the City Council with information on all costs incurred by the City of Vallejo, the County, nonprofit organizations, and other service providers. (Ayes: Gordon, Lediju, Matulac, and Matias; Noes: Sorce, Bregenzer and Palmares).

C. ADOPT A RESOLUTION APPROVING A FIRST AMENDMENT TO THE

OPERATOR AGREEMENT FOR THE VALLEJO NAVIGATION CENTER

WITH FIVE KEYS SCHOOLS AND PROGRAMS TO INCLUDE A WARMING

CENTER IN THE SCOPE OF WORK
Recommendation: Adopt a Resolution Approving a First Amendment to the Operator Agreement for the Vallejo Navigation Center with Five Keys Schools and Programs in include a warming center in the Scope of Work.

Contact: Nalungo Conley, Assistant City Manager
[email protected]

Administrative Analyst Magallanes outlined the recommendation, provided background information, reviewed services to be provided and program requirements, discussed the Warming Center budget and shared additional information if Council’s approves the recommendation this evening.

Speakers: Marissa Serafino, Anne Carr, The People, and Melvin Cowan.

Staff responded to questions from Councilmembers. Councilmembers provided comment.

Page 17 of 329 ends

Regular City Council Meeting Minutes
January 13, 2026
Page | 6
Action: moved by Vice Mayor Matulac and carried unanimously to adopt Resolution No. 26-006 N.C.

11. INFORMATION CALENDAR

Mayor Sorce announced for the new year she would be instituting a procedure in which if the Council meeting is past 10 am, she will move to continue all of the remaining items and the Council can decide if remaining items are urgent enough for the Council to see them. If the meeting extends to 11 pm, she will make a motion to adjourn the meeting.

Action: moved by Mayor Sorce and carried unanimously to continue Information Calendar Item 11A.

A. RECEIVE UPDATE FROM STAFF ON THE SELECTION AND

ENGAGEMENT OF THREE ON CALL PROFESSIONAL AUDIT FIRMS TO

CONDUCT AUDITS AND ASSESSMENTS AS DESIRED FROM TIME TO
TIME
Recommendation: This item is for informational purposes only. There is no staff report or action associated with this item
Contact: Nalungo Conley, Assistant City Manager/Interim Finance Director [email protected]

12. CITY MANAGER’S REPORT

City Manager Murray provided an update on the Broadway project; informed Council and the community that staff is meeting with Caltrans and SolTrans to discuss safety improvements on Sonoma Boulevard; shared information regarding the Mare Island site visit with The Roosevelt Group; and provided an update on the VA’s planned upgrades to the Mare Island cemetery.

13. CITY ATTORNEY’S REPORT – None.

14. COMMUNITY FORUM
Speakers: Sherianne Grimm, Daniel Boone and Troy Skillman.

15. REQUEST & ACTIONS FOR FUTURE AGENDA ITEMS OR SPECIAL PROJECTS

Action: moved by Mayor Sorce and carried unanimously to add to the following item to the referral list for a future agenda item: discussion of ongoing safety and operational concerns related to a local business (Moschetti Coffee parking lot).The purpose of the request is to ensure a transparent, forward-looking process that supports public safety, small business, and effective governance.

Action: moved by Mayor Sorce and carried unanimously to (1) agendize Mare Island Infrastructure within the next month and (2) directed staff to provide an overtime report for 2025 by department that includes dollar amount, comp time, and the mechanism for approving overtime as part of the FY 2025/26 midyear budget update as requested by Councilmember Lediju.

Page 18 of 329 ends

Regular City Council Meeting Minutes
January 13, 2026
Page | 7

16. REPORT OF THE PRESIDING OFFICER AND MEMBERS OF THE CITY COUNCIL

Councilmembers reported on various meetings and community events attended.

17. ADJOURNMENT

The meeting adjourned at 10:38 p.m.

________________________________

ANDREA SORCE, MAYOR

ATTEST:

_________________________________
DAWN G. ABRAHAMSON, CITY CLERK

Page 19 of 329 ends

Special Council Meeting Minutes
January 13, 2026
Page | 1

VALLEJO CITY COUNCIL

SPECIAL MEETING MINUTES
JANUARY 13, 2026

COUNCIL CHAMBERS
555 Santa Clara Street, Vallejo, California

1. CALL TO ORDER

The meeting was called to order at 10:41 p.m.

2. ROLL CALL

Present: Mayor Sorce, Vice Mayor Matulac, Councilmembers Bregenzer, Gordon, Lediju, Matias, and Palmares

Absent: None
Staff present: City Manager Murray, Chief Assistant City Attorney Risner, City Clerk Abrahamson, and Human Resources Director Sifuentes

The Council convened into Closed Session in the Council Conference Room at 10:44 p.m.

3. CLOSED SESSION
E. PUBLIC EMPLOYEE PERFORMANCE EVALUATION
Pursuant to Government Code Section 54957(b)(1)
Title: City Manager
The Council reconvened into open session in the Council Chamber at 12:53 a.m.

Chief Assistant City Attorney Risner reported Council provided direction to staff. There is no other reportable action.

4. ADJOURNMENT

The meeting adjourned at 12:54 a.m.

________________________________

ANDREA SORCE, MAYOR

ATTEST:

_________________________________
DAWN G. ABRAHAMSON, CITY CLERK

Page 20 of 329 ends

Special City Council Meeting Minutes
January 21, 2026
Page | 1

VALLEJO CITY COUNCIL

SPECIAL MEETING MINUTES
JANUARY 21, 2026

COUNCIL CHAMBERS
555 Santa Clara Street, Vallejo, California

1. CALL TO ORDER

The meeting was called to order at 5:21 p.m.

2. ROLL CALL

Present: Mayor Sorce, Vice Mayor Matulac, Councilmembers Bregenzer, Gordon, Lediju, Matias (arrived at 5:24 p.m.), and Palmares

Absent: None
Staff present: City Attorney Nebb and Chief Assistant City Attorney Risner

Vice Mayor Matulac and Mayor Sorce on behalf of Councilmember Lediju announced that they are invoking the provisions of Section 54953.8.3 of the Ralph M. Brown Act (“Just Cause Provision”), Provision 4—travel while on official business of the City Council—while attending the League of California and are participating remotely.

The Council convened into Closed Session in the Council Conference Room with Vice Mayor Matulac and Councilmember Lediju participating remotely at 5:25 p.m.

3. CLOSED SESSION
A. PUBLIC EMPLOYEE PERFORMANCE EVALUATION
Pursuant to Government Code Section 54957(b)(1)
Title: City Manager
B. PUBLIC EMPLOYEE PERFORMANCE EVALUATION
Pursuant to Government Code Section 54957(b)(1)
Title: City Attorney

The Council reconvened into open session in the Council Chambers. Chief Assistant City Attorney Risner reported Council provided direction to staff and there is no further action to report.

4. ADJOURNMENT

The meeting adjourned at 6:48 p.m.

________________________________

ANDREA SORCE, MAYOR

Page 21 of 329 ends

ATTEST:

_________________________________
DAWN G. ABRAHAMSON, CITY CLERK

Page 22 of 329 ends

CONSENT CALENDAR 8.C.

DATE: February 10, 2026
TO: Mayor and Members of the City Council
FROM: Nalungo Conley, Assistant City Manager/Acting Finance Director SUBJECT: CITY TREASURER’S QUARTERLY INVESTMENT REPORT

RECOMMENDATION
Accept the City Treasurer’s Investment Report for the quarter ended December 31, 2025

REASONS FOR RECOMMENDATION
The City’s Investment Policy requires the City Treasurer to submit quarterly investment reports to the City Council.

BACKGROUND AND DISCUSSION
The City of Vallejo follows the provisions of California Government Code Sections 53601, 53635, and 53651 as guidelines for developing and implementing its investment policies and practices. The City Manager has delegated the authority for managing and investing City funds to the City Finance Director, who also serves as the City Treasurer. The Finance Director/Treasurer is authorized to invest and reinvest City funds, sell or exchange securities, and deposit securities for safekeeping in accordance with the Investment Policy approved annually by the City Council.

At the end of each calendar quarter, the City Treasurer is required by the City’s adopted Investment Policy to report on the status of investments to the City Council. The City Treasurer’s Investment Report as of December 31, 2025 is submitted. The report includes all securities managed by the City and its Investment Managers (excluding bond proceeds) and provides information on the values (par, fair, and cost), term, and yield of each security. Please note that because the safe-keeping custodian and the Investment Manager may use different pricing sources to determine the market value of the securities, there can be minor differences in market values shown on the custodian's monthly statement as compared to the Investment Manager's monthly statement.

Fair Value of individual securities has been provided by Chandler Asset Management. The City utilizes Principal Financial as its third-party safekeeping custodian for safekeeping of all investments except for the Local Agency Investment Fund (LAIF). LAIF being a money market fund administered by the State Treasurer has many governmental agency participants and holds securities through its own administrator.

The share of each fund in the City's pooled cash as of June 30, 2025 is as follows:

Water Fund 26.1%
Capital Project Funds 18.5%
General Fund 17.5%
Risk Funds 13.4%
LMD Funds 7.8%
All other funds 16.8%

Page 23 of 329 ends

Date: February 10, 2026
Subject: CITY TREASURER’S QUARTERLY INVESTMENT REPORT

Page 2 ends

Total 100%

Condensed investment information as of December 31, 2025, is as follows:

Condensed earnings and return information as of December 31, 2025, is as follows:

Current Quarter Fiscal Year-to-
Date
Portfolio Investment Earnings:

City of Vallejo (realized earning)2 $ 2,624,497 $ 5,399,433 City of Vallejo (unrealized reamings) $ 143,334 $ 481,455

Net Change in Portfolio Fair Value Balance3:

City of Vallejo $ 22,468,966 $ (10,639,714)

Approximate Portfolio Rate-of-Return:

Page 24 of 329 ends

Date: February 10, 2026
Subject: CITY TREASURER’S QUARTERLY INVESTMENT REPORT

Page 3 ends

City of Vallejo - Yield to Maturity4 3.94%

BENCHMARK COMPARISON RATE-OF-RETURN5:

Local Agency Investment Fund5 4.34% 2-Year U.S. Treasury Note Yield 0.03% 1 In accordance with Government Code Section 53646, the Fair Value of the Local Agency Investment Fund (LAIF) represents the value from the December 31, 2025, LAIF statement and has not been adjusted by the “Amortized Cost Factor” which is used in adjusting the statement balance to the actual “Fair Value” balance. 2 The City records interest income on a cash basis, whereas the attached statement uses the accrual basis. Since the accrual basis includes interest income earned but not received, there is a timing difference in recording the interest income between the City’s books and the attached statement. This difference will be trued up at fiscal year-end. 3 The “Net Change in Portfolio Fair Value Balance” is primarily a measure of the difference in the inflows and outflows of funds during the period. The change is primarily due to the timing of the receipt of property tax revenues, which are received in December and April of each year, and the timing of the City making withdrawals in the ordinary course of business to pay expenses. 4 Yield to Maturity is the interest income the portfolio will earn for the next twelve months expressed as a percentage. Yield to maturity assumes no changes during that twelve month period. 5 These are the performance benchmarks stated in the City’s Investment Policy. LAIF rate of return is as of September 30, 2025.

COMPLIANCE
All investment transactions were executed in accordance with the California Government Code and the City’s and Investment Policies. In accordance with California Government Code section 53646(b)(3), staff believes that the investments and budgeted revenues for the City will provide sufficient cash flow to meet the anticipated cash flow requirements of each entity for the next six months.

Pooled cash and investments book balances are adjusted annually to reflect fair value as required by Generally Accepted Accounting Principles. The term fair value was formerly known as market value and became effective with the mandatory implementation of GASB 31 in fiscal year 1998. The attached investment schedules meet these requirements.

It should be noted that this is an investment portfolio report and does not include bank checking account deposits for the City. The Housing Authority is not required to file a quarterly report because it does not have any reportable investments since it closed its investment account and transferred all funds to its bank account, which is covered by a general depository agreement, as required by HUD.

FISCAL IMPACT
There is no fiscal impact from this report. The City's portfolio had total investment earnings of $2,624,497.29 during the three-month period ending December 31, 2025. In addition, the portfolio also had a cumulative fair value versus cost value unrealized, non-cash gain of approximately $481,455 as of December 31, 2025. Fair value fluctuates from one period to another depending on the changes in interest rates and the supply and demand for bonds at a particular time. Therefore, there is often a difference between the cost value (the value at the time of purchase) and the fair value (the market value of the same security at a certain later period) creating an unrealized gain or loss.

ENVIRONMENTAL REVIEW
This action is exempt from the California Environmental Quality Act (CEQA) because it is not a project which has a potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment, pursuant to CEQA Guideline section 15378.

ATTACHMENTS

1. Chandler Monthly Statement - Account 262 - 12-31-25

2. City of Vallejo and Economic Account Analysis 12-31-25

CONTACT

Page 25 of 329 ends

Date: February 10, 2026
Subject: CITY TREASURER’S QUARTERLY INVESTMENT REPORT

Page 4 ends

Florita Cruz, Assistant Finance Director, (707) 648-5542 [email protected]

Page 26 of 329 ends

MONTHLY ACCOUNT STATEMENT
City of Vallejo Cons Portfolio | Account #262 | As of December 31, 2025 CHANDLER ASSET MANAGEMENT | chandlerasset.com
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Custodian:

Page 27 of 329 ends

PORTFOLIO SUMMARY
Portfolio Characteristics
Sector Allocation
Account Summary
Maturity Distribution
Top Issuers
Credit Quality*
Average Modified Duration 1.45
Average Coupon 3.84%
Average Purchase YTM 3.94%
Average Market YTM 3.78%
Average Credit Quality* AA
Average Final Maturity 1.65
Average Life 1.59
End Values as of
11/30/2025
End Values as of
12/31/2025
Market Value 264,073,649.44 290,136,415.06
Accrued Interest 1,421,046.32 1,833,912.96
Total Market Value 265,494,695.76 291,970,328.02
Income Earned 73,978.17 1,234,974.25
Cont/WD (1,670,992.01) 25,733,482.94
Par 263,367,967.75 289,474,556.65
Book Value 262,833,233.60 289,036,269.59
Cost Value 262,183,030.64 288,422,369.47
United States 38.67%
LAIF 19.71%
Wells Fargo & Company 16.19%
FHLMC 3.49%
International Bank for Recon and Dev 1.38%
Allspring Group Holdings LLC 1.25%
Federal Home Loan Banks 1.06%
JPMorgan Chase & Co. 0.87%
*The average credit quality is a weighted average calculation of the highest of S&P , Moody’s and Fitch.

Page 28 of 329 ends

RECONCILIATION SUMMARY
Accrual Activity Summary
Fair Market Activity Summary
Month to Date Fiscal Year to Date
(07/01/2025)
Beginning Book Value 262,833,233.60 300,157,438.95
Maturities/Calls (22,550,000.00) (112,315,000.00)
Principal Paydowns (50,725.02) (547,859.09)
Purchases 109,365,470.52 305,094,234.19
Sales (42,746,494.28) (203,919,204.85)
Change in Cash, Payables, Receivables (17,843,456.94) 14,734.44 Amortization/Accretion 28,241.71 567,421.06
Realized Gain (Loss) 0.01 (15,495.11)
Ending Book Value 289,036,269.59 289,036,269.59
Month to Date Fiscal Year to Date
(07/01/2025)
Beginning Market Value 264,073,649.44 300,776,129.23
Maturities/Calls (22,550,000.00) (112,315,000.00)
Principal Paydowns (50,725.02) (547,859.09)
Purchases 109,365,470.52 305,094,234.19
Sales (42,746,494.28) (203,919,204.85)
Change in Cash, Payables, Receivables (17,843,456.94) 14,734.44 Amortization/Accretion 28,241.71 567,421.06
Change in Net Unrealized Gain (Loss) (140,270.38) 481,455.18 Realized Gain (Loss) 0.01 (15,495.11)
Ending Market Value 290,136,415.06 290,136,415.06
Maturities / Calls
Month to Date (22,550,000.00)
Fiscal Year to Date (112,315,000.00)
Principal Paydowns
Month to Date (50,725.02)
Fiscal Year to Date (547,859.09)
Purchases
Month to Date 109,365,470.52
Fiscal Year to Date 305,094,234.19
Sales
Month to Date (42,746,494.28)
Fiscal Year to Date (203,919,204.85)
Interest Received
Month to Date 1,053,424.24
Fiscal Year to Date 4,729,326.17
Purchased / Sold Interest
Month to Date (259,558.34)
Fiscal Year to Date (448,830.12)

Page 29 of 329 ends

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
47800AAC4 JDOT 2022-B A3 3.74
02/16/2027 44,985.83 07/12/2022

3.77%
44,981.53
44,984.81

99.96 4.07%
44,969.19

74.78 0.02%
(15.62)
Aaa/NA
AAA

1.13 0.12
58768PAC8 MBART 2022-1 A3 5.21
08/16/2027 163,617.48 11/15/2022

5.27%
163,585.11
163,606.48
100.29

4.06%
164,099.66
378.87

0.06%
493.17
Aaa/AAA
NA

1.62 0.24
05592XAD2 BMWOT 2023-A A3 5.47
02/25/2028 76,397.41 07/11/2023

5.47%
76,383.87
76,391.09
100.60

4.08%
76,858.24

69.65 0.03%
467.15
NA/AAA
AAA

2.15 0.42
02582JJZ4 AMXCA 2023-1 A 4.87
05/15/2026 375,000.00 06/07/2023

4.92%
374,966.74
374,994.60
100.37

3.90%
376,371.75
811.67

0.13%
1,377.15
NA/AAA
AAA

0.37 0.36
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 1,005,000.00 09/07/2023

5.23%
1,004,721.41
1,004,849.34
100.94

3.83%
1,014,458.06
2,304.80

0.35%
9,608.71
NA/AAA
AAA

2.71 0.68
05594HAD5 BMWLT 2025-2 A3 3.97
09/25/2028 525,000.00 10/08/2025

4.32%
524,998.53
524,998.64
100.27

3.82%
526,404.38
347.38

0.18%
1,405.74
NA/AAA
AAA

2.74 1.47
34535VAD6 FORDO 2024-D A3 4.61
08/15/2029 580,000.00 11/19/2024

4.66%
579,981.38
579,985.75
101.10

3.89%
586,379.42
1,188.36

0.20%
6,393.67
Aaa/NA
AAA

3.62 1.43
47800DAD6 JDOT 2025 A3 4.23 09/17/2029 475,000.00 03/04/2025

5.09%
474,970.12
474,975.48
100.75

3.85%
478,543.50
893.00

0.16%
3,568.02
Aaa/NA
AAA

3.71 1.77
44935CAD3 HART 2025-A A3 4.32
10/15/2029 600,000.00 03/04/2025

4.84%
599,911.50
599,927.06
100.74

3.90%
604,443.00
1,152.00

0.21%
4,515.94
NA/AAA
AAA

3.79 1.61
34532BAG6 FORDO 2025-B A3 3.91
04/15/2030 490,000.00 09/23/2025

4.27%
489,947.13
489,950.22
100.35

3.78%
491,732.15
851.51

0.17%
1,781.93
Aaa/NA
AAA

4.29 2.18
89231GAD0 TAOT 2025-D A3 3.84
06/17/2030 630,000.00 10/15/2025

4.27%
629,927.55
629,930.54
100.11

3.82%
630,674.73
1,075.20

0.22%
744.19
NA/AAA
AAA

4.46 2.12
Total ABS 4,965,000.72 4.76%
4,964,374.88
4,964,594.00
100.60

3.86%
4,994,934.06
9,147.20

1.72%
30,340.06

3.19 1.35
AGENCY
3130AWMN7 FEDERAL HOME LOAN BANKS

4.375 06/09/2028 1,000,000.00 07/26/2023

4.27%
1,004,500.00
1,002,251.26
102.04

3.50%
1,020,353.00
2,673.61

0.35%
18,101.74
Aa1/AA+
AA+

2.44 2.29
3130AWTR1 FEDERAL HOME LOAN BANKS

4.375 09/08/2028 1,000,000.00 09/21/2023

4.70%
985,570.00
992,192.04
102.14

3.53%
1,021,390.00
13,732.64

0.35%
29,197.96
Aa1/AA+
AA+

2.69 2.49
3133EPN50 FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.25 12/15/2028 1,000,000.00 12/28/2023

3.88%
1,016,720.00
1,009,950.84
102.19

3.46%
1,021,901.00
1,888.89

0.35%
11,950.16
Aa1/AA+
AA+

2.96 2.76
3130AVBD3 FEDERAL HOME LOAN BANKS 4.5
03/09/2029 1,000,000.00 04/22/2024

4.71%
990,720.00
993,940.12
102.77

3.57%
1,027,724.00
14,000.00

0.35%
33,783.88
Aa1/AA+
AA+

3.19 2.92

Page 30 of 329 ends

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total Agency 4,000,000.00 4.39%
3,997,510.00
3,998,334.27
102.29

3.51%
4,091,368.00
32,295.14

1.41%
93,033.73

2.82 2.61

AGENCY CMBS
3137FBU79 FHMS K-069 A2 3.187
09/25/2027 1,456,705.40 12/10/2025

3.83%
1,438,781.10
1,439,268.64

98.93 3.74%
1,441,088.06
3,868.77

0.50%
1,819.42
Aa1/AAA
AA+

1.73 1.61
3137FG6X8 FHMS K-077 A2 3.85 05/25/2028 1,835,000.00 05/24/2023

4.65%
1,801,310.55
1,819,054.66
100.00

3.76%
1,835,038.54
5,887.29

0.63%
15,983.88
Aa1/AA+
AAA

2.40 2.17
3137FJZ93 FHMS K-084 A2 3.78 10/25/2028 2,000,000.00 12/08/2025

3.84%
1,993,203.13
1,993,342.38

99.77 3.80%
1,995,472.00
6,300.00

0.69%
2,129.62
Aaa/AA+
AA+

2.82 2.57
3137FLN91 FHMS K-091 A2 3.505
03/25/2029 2,000,000.00 12/04/2025

3.79%
1,980,312.50
1,980,696.89

98.88 3.84%
1,977,670.00
5,841.67

0.68%
(3,026.89)
Aa1/AAA
AA+

3.23 2.90
3137FMTY8 FHMS K-094 A2 2.903
06/25/2029 2,000,000.00 11/24/2025

3.79%
1,939,843.75
1,941,440.40

96.82 3.87%
1,936,324.00
4,838.33

0.67%
(5,116.40)
Aa1/AA+
AAA

3.48 3.18
3137FRUT6 FHMS K-106 A2 2.069
01/25/2030 1,000,000.00 07/14/2025

4.25%
911,445.31
920,578.02

92.97 3.95%
929,722.00
1,724.17

0.32%
9,143.98
Aa1/AA+
AAA

4.07 3.79
Total Agency CMBS 10,291,705.40 4.00%
10,064,896.34
10,094,380.99

98.33 3.82%
10,115,314.59
28,460.23

3.49%
20,933.60

2.91 2.66
CASH
CCYUSD Receivable 38,604.02 -- 38,604.02
38,604.02

1.00 38,604.02

0.00 0.01%

0.00 Aaa/AAA
AAA

0.00 0.00
CCYUSD Receivable 588,723.61 -- 588,723.61
588,723.61

1.00 588,723.61

0.00 0.20%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 627,327.63
627,327.63
627,327.63

1.00 627,327.63

0.00 0.22%

0.00 0.00

0.00 CORPORATE
931142ER0 WALMART INC 1.05 09/17/2026 240,000.00 09/08/2021

1.09%
239,546.40
239,935.66

98.21 3.63%
235,706.40
728.00

0.08%
(4,229.26)
Aa2/AA
AA

0.71 0.69
87612EBM7 TARGET CORP 1.95 01/15/2027 545,000.00 01/19/2022

1.99%
544,073.50
544,806.75

98.20 3.73%
535,199.81
4,900.46

0.18%
(9,606.94)
A2/A
A

1.04 1.00
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 1,000,000.00 --

2.76%
985,444.30
996,578.69

98.42 3.84%
984,223.00
8,030.56

0.34%
(12,355.69)
A2/A-
A

1.17 1.13
084664CZ2 BERKSHIRE HATHAWAY FINANCE
CORP 2.3 03/15/2027 1,095,000.00 03/07/2022

2.30%
1,094,791.95
1,094,950.10

98.42 3.65%
1,077,751.56
7,415.58

0.37%
(17,198.54)
Aa2/AA
A+

1.20 1.16

Page 31 of 329 ends

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
023135CF1 AMAZON.COM INC 3.3
04/13/2027 750,000.00 04/25/2022

3.34%
748,702.50
749,665.60

99.58 3.64%
746,817.00
5,362.50

0.26%
(2,848.60)
A1/AA
AA-

1.28 1.23
74340XBN0 PROLOGIS LP 2.125 04/15/2027 1,000,000.00 11/09/2022

5.15%
881,290.00
965,483.58

97.87 3.84%
978,685.00
4,486.11

0.34%
13,201.42
A2/A
NA

1.29 1.25
927804GH1 VIRGINIA ELECTRIC AND POWER
CO 3.75 05/15/2027 250,000.00 05/16/2022

3.82%
249,220.00
249,784.96

99.81 3.89%
249,515.25
1,197.92

0.09%
(269.71)
A3/BBB+
A

1.37 1.32
14913R3A3 CATERPILLAR FINANCIAL
SERVICES CORP 3.6 08/12/2027 700,000.00 08/22/2022

3.81%
693,301.00
697,828.55

99.85 3.70%
698,940.90
9,730.00

0.24%
1,112.35
A2/A
A+

1.61 1.53
931142EX7 WALMART INC 3.95 09/09/2027 500,000.00 --

3.98%
499,366.20
499,786.19
100.57

3.60%
502,834.00
6,144.44

0.17%
3,047.81
Aa2/AA
AA

1.69 1.52
89115A2M3 TORONTO-DOMINION BANK

5.156 01/10/2028 1,100,000.00 06/28/2023

5.27%
1,094,940.00
1,097,740.58
102.26

3.98%
1,124,901.80
26,940.10

0.39%
27,161.22
A2/A-
AA-

2.03 1.86
756109AU8 REALTY INCOME CORP 3.65
01/15/2028 1,000,000.00 04/24/2023

4.71%
955,470.00
980,794.02

99.35 3.99%
993,469.00
16,830.56

0.34%
12,674.98
A3/A-
NA

2.04 1.91
06051GGF0 BANK OF AMERICA CORP 3.824
01/20/2028 1,000,000.00 04/10/2023

5.53%
956,490.00
987,884.09

99.76 4.76%
997,602.00
17,101.78

0.34%
9,717.91
A1/A-
AA-

2.05 1.00
06406RAB3 BANK OF NEW YORK MELLON
CORP 3.442 02/07/2028 1,000,000.00 04/26/2023

4.99%
961,850.00
988,894.79

99.52 4.41%
995,151.00
13,768.00

0.34%
6,256.21
Aa3/A
AA-

2.10 1.05
74456QBU9 PUBLIC SERVICE ELECTRIC AND
GAS CO 3.7 05/01/2028 1,250,000.00 09/06/2023

5.10%
1,178,487.50
1,214,138.40

99.60 3.88%
1,244,982.50
7,708.33

0.43%
30,844.10
A1/A
NA

2.33 2.20
037833ET3 APPLE INC 4.0 05/10/2028 205,000.00 05/08/2023

4.04%
204,604.35
204,813.76
100.76

3.66%
206,558.00
1,161.67

0.07%
1,744.24
Aaa/AA+
NA

2.36 2.14
95000U2A0 WELLS FARGO & CO 3.584
05/22/2028 2,000,000.00 12/10/2025

4.61%
1,984,800.00
1,985,157.45

99.34 4.56%
1,986,854.00
7,765.33

0.68%
1,696.55
A1/BBB+
A+

2.39 1.34
02665WEM9 AMERICAN HONDA FINANCE
CORP 5.125 07/07/2028 1,200,000.00 08/17/2023

5.33%
1,189,428.00
1,194,553.82
102.61

4.02%
1,231,299.60
29,725.00

0.42%
36,745.78
A3/A-
A

2.52 2.29
64952WFP3 NEW YORK LIFE GLOBAL
FUNDING 4.15 07/25/2028 2,000,000.00 12/23/2025

3.94%
2,010,080.00
2,009,994.58
100.54

3.92%
2,010,840.00
35,966.67

0.69%
845.42
Aa1/AA+
AAA

2.57 2.37
78016HZS2 ROYAL BANK OF CANADA 5.2
08/01/2028 1,000,000.00 09/07/2023

5.53%
986,020.00
992,618.62
103.09

3.93%
1,030,935.00
21,666.67

0.36%
38,316.38
A1/A
AA-

2.59 2.35
69371RU20 PACCAR FINANCIAL CORP 4.0
11/07/2028 1,200,000.00 11/25/2025

3.78%
1,207,380.00
1,207,133.31
100.47

3.82%
1,205,610.00
7,200.00

0.42%
(1,523.31)
A1/A+
NA

2.85 2.65
61776NZU0 MORGAN STANLEY PRIVATE
BANK NA 4.204 11/17/2028 1,000,000.00 12/10/2025

4.13%
1,001,340.00
1,001,300.14
100.31

4.19%
1,003,124.00
4,904.67

0.35%
1,823.86
Aa3/A+
AA-

2.88 1.78
89236TFT7 TOYOTA MOTOR CREDIT CORP

3.65 01/08/2029 1,500,000.00 11/25/2025

3.92%
1,488,270.00
1,488,640.75

99.04 3.99%
1,485,657.00
26,310.42

0.51%
(2,983.75)
A1/A+
A+

3.02 2.78

Page 32 of 329 ends

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
24422EXH7 JOHN DEERE CAPITAL CORP 4.5
01/16/2029 1,200,000.00 04/23/2024

5.08%
1,170,792.00
1,181,210.14
101.60

3.94%
1,219,166.40
24,750.00

0.42%
37,956.26
A1/A
A+

3.04 2.76
06051GMK2 BANK OF AMERICA CORP 4.979
01/24/2029 450,000.00 01/28/2025

4.92%
450,702.00
450,484.96
101.87

4.19%
458,421.30
9,771.29

0.16%
7,936.34
A1/A-
AA-

3.07 1.91
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029 1,200,000.00 01/24/2024

4.64%
1,198,044.00
1,198,794.50
101.84

3.96%
1,222,027.20
23,153.33

0.42%
23,232.70
A1/A+
NA

3.08 2.80
14913UAJ9 CATERPILLAR FINANCIAL
SERVICES CORP 4.85 02/27/2029 450,000.00 05/21/2024

4.84%
450,193.50
450,128.15
102.75

3.91%
462,379.50
7,517.50

0.16%
12,251.35
A2/A
A+

3.16 2.86
61747YFD2 MORGAN STANLEY 5.164
04/20/2029 1,200,000.00 05/30/2024

5.44%
1,188,336.00
1,193,100.17
102.25

4.47%
1,227,012.00
12,221.47

0.42%
33,911.83
A1/A-
A+

3.30 2.13
89236TMF9 TOYOTA MOTOR CREDIT CORP

5.05 05/16/2029 500,000.00 05/21/2024

5.01%
500,975.00
500,659.83
103.15

4.04%
515,752.50
3,156.25

0.18%
15,092.67
A1/A+
A+

3.37 3.07
91159HJM3 US BANCORP 5.775 06/12/2029 1,100,000.00 06/20/2024

5.26%
1,119,910.00
1,112,244.92
103.94

4.51%
1,143,344.40
3,352.71

0.39%
31,099.48
A3/A
A

3.45 2.27
437076DC3 HOME DEPOT INC 4.75
06/25/2029 1,075,000.00 --

4.33%
1,093,949.25
1,088,756.59
102.52

3.97%
1,102,137.30
851.04

0.38%
13,380.71
A2/A
A

3.48 3.12
46647PAV8 JPMORGAN CHASE & CO 4.203
07/23/2029 1,300,000.00 --

4.84%
1,270,702.00
1,280,885.03
100.32

4.37%
1,304,215.90
23,980.45

0.45%
23,330.87
A1/A
AA-

3.56 2.36
857449AE2 STATE STREET BANK AND TRUST
CO 4.782 11/23/2029 1,250,000.00 01/15/2025

4.93%
1,241,875.00
1,243,479.83
102.93

3.96%
1,286,616.25
6,309.58

0.44%
43,136.42
Aa2/AA-
AA

3.90 3.52
756109CC6 REALTY INCOME CORP 3.4
01/15/2030 1,250,000.00 12/04/2025

4.15%
1,215,000.00
1,215,629.16

97.18 4.16%
1,214,800.00
19,597.22

0.42%
(829.16)
A3/A-
NA

4.04 3.66
571748CA8

MARSH & MCLENNAN
COMPANIES INC 4.65
03/15/2030
1,995,000.00 --

4.52%
2,004,207.30
2,004,914.18
102.00

4.12%
2,034,993.77
27,314.88

0.70%
30,079.58
A3/A-
A-

4.20 3.67
00287YDZ9 ABBVIE INC 4.875 03/15/2030 2,200,000.00 --

4.27%
2,252,670.00
2,249,665.23
103.03

4.08%
2,266,717.20
31,579.17

0.78%
17,051.97
A3/A-
NA

4.20 3.66
74340XBM2 PROLOGIS LP 2.25 04/15/2030 1,200,000.00 11/24/2025

4.11%
1,111,128.00
1,113,180.60

92.78 4.10%
1,113,333.60
5,700.00

0.38%
153.00
A2/A
NA

4.29 4.00
24422EYE3 JOHN DEERE CAPITAL CORP 4.55
06/05/2030 1,200,000.00 12/04/2025

4.10%
1,221,792.00
1,221,433.88
101.67

4.13%
1,220,076.00
3,943.33

0.42%
(1,357.88)
A1/A
A+

4.43 3.97
46647PDF0 JPMORGAN CHASE & CO 4.565
06/14/2030 1,200,000.00 11/24/2025

4.19%
1,214,724.00
1,214,303.96
101.16

4.47%
1,213,962.00
2,586.83

0.42%
(341.96)
A1/A
AA-

4.45 3.16
06051GHV4 BANK OF AMERICA CORP 3.194
07/23/2030 1,000,000.00 12/04/2025

4.40%
966,490.00
967,025.05

96.59 4.42%
965,879.00
14,018.11

0.33%
(1,146.05)
A1/A-
AA-

4.56 3.27

Page 33 of 329 ends

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
828807DZ7 SIMON PROPERTY GROUP LP

4.375 10/01/2030 2,000,000.00 12/08/2025

4.27%
2,008,720.00
2,008,603.87
100.72

4.20%
2,014,348.00
32,083.33

0.69%
5,744.13
A3/A
NA

4.75 4.12
63743HGC0

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.3 12/10/2030
2,000,000.00 12/11/2025

4.21%
2,008,040.00
2,007,950.37
100.23

4.25%
2,004,570.00
5,016.67

0.69%
(3,380.37)
A2/NA
A

4.94 4.33
40139LBP7 GUARDIAN LIFE GLOBAL
FUNDING 4.402 12/11/2030 1,000,000.00 12/08/2025

4.40%
1,000,000.00
1,000,000.00
100.36

4.32%
1,003,561.00
2,445.56

0.35%
3,561.00
Aa1/AA+
NA

4.94 4.39
Total Corporate 46,305,000.00 4.41%
45,843,145.75
46,094,934.78
100.51

4.10%
46,519,970.14
524,393.47

16.03%
425,035.35

3.16 2.65
LAIF
90LAIF$00 Local Agency Investment Fund
State Pool 57,172,884.62 --

3.98%
57,172,884.62
57,172,884.62

1.00 3.98%
57,172,884.62

0.00 19.71%

0.00 NA/NA
NA

0.00 0.00
Total LAIF 57,172,884.62 3.98%
57,172,884.62
57,172,884.62

1.00 3.98%
57,172,884.62

0.00 19.71%

0.00 0.00

0.00 MONEY MARKET
FUND
94975H312 ALLSPRING:TRS+ MM S 3,630,628.54 --

3.37%
3,630,628.54
3,630,628.54

1.00 3.37%
3,630,628.54

0.00 1.25%

0.00 Aaa/
AAAm
AAA

0.00 0.00
85253$413 Wells Fargo Stagecoach Sweep
Account 44,982,009.75 --

3.66%
44,982,009.75
44,982,009.75

1.00 3.66%
44,982,009.75

0.00 15.50%

0.00 NA/NA
NA

0.00 0.00
Total Money
Market Fund 48,612,638.29 3.64%
48,612,638.29
48,612,638.29

1.00 3.64%
48,612,638.29

0.00 16.76%

0.00 0.00

0.00 SUPRANATIONAL
45950KDD9 INTERNATIONAL FINANCE CORP

4.5 07/13/2028 520,000.00 07/06/2023

4.53%
519,422.80
519,708.08
102.19

3.59%
531,386.96
10,920.00

0.18%
11,678.88
Aaa/AAA
NA

2.53 2.33
4581X0EN4

INTER-AMERICAN
DEVELOPMENT BANK 4.125
02/15/2029
1,250,000.00 02/15/2024

4.31%
1,239,725.00
1,243,565.44
101.46

3.63%
1,268,232.50
19,479.17

0.44%
24,667.06
Aaa/AAA
NA

3.13 2.86
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
1,000,000.00 10/28/2024

4.14%
988,380.00
991,129.58
100.70

3.68%
1,006,998.00
8,070.00

0.35%
15,868.42
Aaa/AAA
NA

3.79 3.47

Page 34 of 329 ends

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
1,000,000.00 03/27/2025

4.22%
995,850.00
996,486.88
101.49

3.74%
1,014,881.00
11,572.92

0.35%
18,394.12
Aaa/AAA
NA

4.22 3.80
459058LY7

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.5 10/28/2030
2,000,000.00 12/10/2025

3.81%
1,972,820.00
1,973,140.30

98.81 3.77%
1,976,194.00
12,250.00

0.68%
3,053.70
Aaa/AAA
NA

4.82 4.37
Total
Supranational 5,770,000.00 4.11%
5,716,197.80
5,724,030.28
100.50

3.70%
5,797,692.46
62,292.08

2.00%
73,662.18

3.96 3.60

US TREASURY
91282CJV4 UNITED STATES TREASURY 4.25
01/31/2026 30,000,000.00 --

4.12%
30,009,765.63
30,001,890.56
100.04

3.68%
30,012,000.00
533,559.78

10.34%
10,109.44
Aa1/AA+
AA+

0.08 0.08
91282CCP4 UNITED STATES TREASURY 0.625
07/31/2026 1,000,000.00 08/10/2021

0.82%
990,507.81
998,896.50

98.32 3.58%
983,225.00
2,615.49

0.34%
(15,671.50)
Aa1/AA+
AA+

0.58 0.57
91282CCW9 UNITED STATES TREASURY 0.75
08/31/2026 2,250,000.00 --

0.97%
2,226,699.22
2,246,813.87

98.17 3.59%
2,208,836.25
5,733.77

0.76%
(37,977.62)
Aa1/AA+
AA+

0.67 0.64
91282CDG3 UNITED STATES TREASURY 1.125
10/31/2026 3,000,000.00 --

1.27%
2,979,511.72
2,996,534.25

97.99 3.62%
2,939,649.00
5,780.39

1.01%
(56,885.25)
Aa1/AA+
AA+

0.83 0.81
912828Z78 UNITED STATES TREASURY 1.5
01/31/2027 500,000.00 03/30/2022

2.45%
478,320.31
495,153.66

97.86 3.54%
489,316.50
3,138.59

0.17%
(5,837.16)
Aa1/AA+
AA+

1.08 1.05
912828V98 UNITED STATES TREASURY 2.25
02/15/2027 1,250,000.00 02/06/2023

3.92%
1,173,095.70
1,228,535.90

98.62 3.52%
1,232,715.00
10,623.30

0.42%
4,179.10
Aa1/AA+
AA+

1.13 1.08
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027 1,250,000.00 09/27/2022

4.25%
1,160,839.84
1,225,392.88

98.76 3.53%
1,234,521.25
7,984.20

0.43%
9,128.37
Aa1/AA+
AA+

1.25 1.20
91282CEN7 UNITED STATES TREASURY 2.75
04/30/2027 2,500,000.00 --

3.23%
2,445,792.97
2,485,284.10

99.03 3.50%
2,475,782.50
11,774.86

0.85%
(9,501.60)
Aa1/AA+
AA+

1.33 1.28
91282CEW7 UNITED STATES TREASURY 3.25
06/30/2027 1,400,000.00 07/12/2022

3.00%
1,416,296.88
1,404,898.95

99.66 3.49%
1,395,188.20
125.69

0.48%
(9,710.75)
Aa1/AA+
AA+

1.50 1.45
91282CFH9 UNITED STATES TREASURY 3.125
08/31/2027 1,000,000.00 09/08/2022

3.36%
989,101.56
996,359.19

99.43 3.48%
994,258.00
10,618.09

0.34%
(2,101.19)
Aa1/AA+
AA+

1.67 1.58
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 1,000,000.00 10/28/2022

4.19%
996,875.00
998,891.02
101.07

3.48%
1,010,703.00
10,539.15

0.35%
11,811.98
Aa1/AA+
AA+

1.75 1.65
91282CFU0 UNITED STATES TREASURY 4.125
10/31/2027 1,100,000.00 12/20/2022

3.84%
1,113,750.00
1,105,174.65
101.11

3.49%
1,112,203.40
7,771.41

0.38%
7,028.75
Aa1/AA+
AA+

1.83 1.74
91282CLX7 UNITED STATES TREASURY 4.125
11/15/2027 2,000,000.00 12/04/2025

3.54%
2,021,953.13
2,021,118.29
101.14

3.49%
2,022,812.00
10,711.33

0.70%
1,693.71
Aa1/AA+
AA+

1.87 1.78

Page 35 of 329 ends

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 2,050,000.00 --

3.58%
2,069,824.22
2,061,090.64
100.75

3.48%
2,065,295.05
219.44

0.71%
4,204.41
Aa1/AA+
AA+

2.00 1.91
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028 2,000,000.00 12/11/2025

3.52%
1,999,218.75
1,999,238.78
100.02

3.49%
2,000,390.00
29,293.48

0.69%
1,151.22
Aa1/AA+
AA+

2.08 1.96
9128283W8 UNITED STATES TREASURY 2.75
02/15/2028 1,250,000.00 03/08/2023

4.37%
1,161,083.98
1,211,801.60

98.49 3.49%
1,231,152.50
12,984.04

0.42%
19,350.90
Aa1/AA+
AA+

2.13 2.02
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028 2,000,000.00 12/11/2025

3.52%
2,020,312.50
2,019,810.34
101.04

3.49%
2,020,860.00
27,182.32

0.70%
1,049.66
Aa1/AA+
AA+

2.16 2.03
91282CGT2 UNITED STATES TREASURY 3.625
03/31/2028 1,750,000.00 06/29/2023

4.18%
1,708,437.50
1,730,367.94
100.27

3.50%
1,754,648.00
16,207.93

0.60%
24,280.06
Aa1/AA+
AA+

2.25 2.12
91282CHA2 UNITED STATES TREASURY 3.5
04/30/2028 2,180,000.00 --

3.55%
2,175,314.06
2,177,790.40

99.98 3.51%
2,179,659.92
13,067.96

0.75%
1,869.52
Aa1/AA+
AA+

2.33 2.20
91282CHQ7 UNITED STATES TREASURY 4.125
07/31/2028 1,000,000.00 09/28/2023

4.68%
976,250.00
987,338.71
101.49

3.51%
1,014,922.00
17,262.23

0.35%
27,583.29
Aa1/AA+
AA+

2.58 2.39
91282CHX2 UNITED STATES TREASURY 4.375
08/31/2028 1,500,000.00 09/25/2023

4.59%
1,485,644.53
1,492,244.38
102.11

3.53%
1,531,699.50
22,298.00

0.53%
39,455.12
Aa1/AA+
AA+

2.67 2.46
91282CJA0 UNITED STATES TREASURY 4.625
09/30/2028 1,850,000.00 --

4.93%
1,825,767.58
1,836,533.03
102.83

3.53%
1,902,319.85
21,860.75

0.66%
65,786.82
Aa1/AA+
AA+

2.75 2.54
91282CJF9 UNITED STATES TREASURY 4.875
10/31/2028 2,000,000.00 12/23/2025

3.59%
2,069,140.63
2,068,609.80
103.54

3.54%
2,070,860.00
16,698.90

0.71%
2,250.20
Aa1/AA+
AA+

2.84 2.61
9128285M8 UNITED STATES TREASURY 3.125
11/15/2028 1,000,000.00 11/17/2023

4.49%
939,570.31
965,208.15

98.88 3.54%
988,828.00
4,057.32

0.34%
23,619.85
Aa1/AA+
AA+

2.88 2.71
91282CJN2 UNITED STATES TREASURY 4.375
11/30/2028 1,500,000.00 12/21/2023

3.82%
1,536,855.47
1,521,725.33
102.27

3.55%
1,534,042.50
5,769.23

0.53%
12,317.17
Aa1/AA+
AA+

2.92 2.71
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 1,200,000.00 01/30/2024

3.96%
1,188,609.38
1,193,055.27
100.57

3.55%
1,206,796.80
124.31

0.42%
13,741.53
Aa1/AA+
AA+

3.00 2.81
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 2,000,000.00 --

4.13%
1,985,546.88
1,993,224.84
101.27

3.56%
2,025,468.00
33,478.26

0.70%
32,243.16
Aa1/AA+
AA+

3.08 2.83
91282CKD2 UNITED STATES TREASURY 4.25
02/28/2029 1,000,000.00 03/25/2024

4.24%
1,000,546.88
1,000,350.61
102.02

3.57%
1,020,234.00
14,440.61

0.35%
19,883.39
Aa1/AA+
AA+

3.16 2.90
91282CKG5 UNITED STATES TREASURY 4.125
03/31/2029 2,000,000.00 --

4.09%
1,997,328.13
2,002,760.11
101.66

3.58%
2,033,126.00
21,078.30

0.70%
30,365.89
Aa1/AA+
AA+

3.25 2.99
91282CKP5 UNITED STATES TREASURY 4.625
04/30/2029 1,000,000.00 05/28/2024

4.54%
1,003,476.56
1,002,350.60
103.23

3.58%
1,032,305.00
7,921.27

0.36%
29,954.40
Aa1/AA+
AA+

3.33 3.05
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029 1,250,000.00 06/26/2024

4.33%
1,259,179.69
1,256,357.92
102.88

3.60%
1,285,937.50
4,945.05

0.44%
29,579.58
Aa1/AA+
AA+

3.41 3.13

Page 36 of 329 ends

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CKX8 UNITED STATES TREASURY 4.25
06/30/2029 1,850,000.00 --

3.67%
1,897,115.24
1,883,951.82
102.11

3.60%
1,889,096.05
217.20

0.65%
5,144.23
Aa1/AA+
AA+

3.50 3.23
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 1,750,000.00 --

4.02%
1,748,632.81
1,749,065.17
101.29

3.61%
1,772,627.50
29,293.48

0.61%
23,562.33
Aa1/AA+
AA+

3.58 3.26
91282CFJ5 UNITED STATES TREASURY 3.125
08/31/2029 1,500,000.00 09/27/2024

3.55%
1,471,464.84
1,478,741.62

98.31 3.62%
1,474,687.50
15,927.14

0.51%
(4,054.12)
Aa1/AA+
AA+

3.67 3.38
91282CLN9 UNITED STATES TREASURY 3.5
09/30/2029 1,250,000.00 12/17/2024

4.29%
1,207,910.16
1,217,041.27

99.54 3.63%
1,244,190.00
11,177.88

0.43%
27,148.73
Aa1/AA+
AA+

3.75 3.45
91282CLR0 UNITED STATES TREASURY 4.125
10/31/2029 1,250,000.00 11/19/2024

4.24%
1,243,896.48
1,245,271.97
101.71

3.64%
1,271,386.25
8,831.15

0.44%
26,114.28
Aa1/AA+
AA+

3.83 3.49
91282CMA6 UNITED STATES TREASURY 4.125
11/30/2029 1,700,000.00 --

4.09%
1,702,902.34
1,702,280.39
101.73

3.65%
1,729,352.20
6,164.84

0.60%
27,071.81
Aa1/AA+
AA+

3.91 3.58
91282CMD0 UNITED STATES TREASURY 4.375
12/31/2029 1,250,000.00 --

4.38%
1,249,658.20
1,249,727.84
102.67

3.65%
1,283,398.75
151.07

0.44%
33,670.91
Aa1/AA+
AA+

4.00 3.65
91282CMG3 UNITED STATES TREASURY 4.25
01/31/2030 2,200,000.00 11/26/2025

3.54%
2,259,984.38
2,258,647.02
102.22

3.66%
2,248,899.40
39,127.72

0.78%
(9,747.62)
Aa1/AA+
AA+

4.08 3.66
91282CGQ8 UNITED STATES TREASURY 4.0
02/28/2030 2,000,000.00 12/11/2025

3.64%
2,027,500.00
2,027,142.63
101.27

3.67%
2,025,468.00
27,182.32

0.70%
(1,674.63)
Aa1/AA+
AA+

4.16 3.75
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030 2,250,000.00 --

3.79%
2,269,267.58
2,268,682.59
101.27

3.67%
2,278,651.50
22,994.51

0.79%
9,968.91
Aa1/AA+
AA+

4.25 3.84
91282CMZ1 UNITED STATES TREASURY 3.875
04/30/2030 2,050,000.00 --

3.91%
2,045,781.25
2,047,121.70
100.78

3.68%
2,066,016.65
13,605.32

0.71%
18,894.95
Aa1/AA+
AA+

4.33 3.93
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 2,050,000.00 --

3.80%
2,067,031.25
2,066,261.01
101.27

3.68%
2,076,104.70
7,208.79

0.72%
9,843.69
Aa1/AA+
AA+

4.41 4.00
91282CNK3 UNITED STATES TREASURY 3.875
06/30/2030 2,500,000.00 --

3.87%
2,499,785.16
2,500,232.08
100.75

3.69%
2,518,847.50
267.61

0.87%
18,615.42
Aa1/AA+
AA+

4.50 4.09
91282CNN7 UNITED STATES TREASURY 3.875
07/31/2030 2,250,000.00 --

3.69%
2,267,470.70
2,266,894.81
100.74

3.70%
2,266,611.75
36,486.07

0.78%
(283.06)
Aa1/AA+
AA+

4.58 4.10
91282CNX5 UNITED STATES TREASURY 3.625
08/31/2030 2,250,000.00 --

3.63%
2,249,003.91
2,249,143.34

99.64 3.71%
2,242,001.25
27,713.23

0.77%
(7,142.09)
Aa1/AA+
AA+

4.67 4.20
91282CPA3 UNITED STATES TREASURY 3.625
09/30/2030 2,100,000.00 --

3.68%
2,094,605.47
2,094,887.26

99.61 3.71%
2,091,879.30
19,449.52

0.72%
(3,007.96)
Aa1/AA+
AA+

4.75 4.28
91282CPD7 UNITED STATES TREASURY 3.625
10/31/2030 2,250,000.00 --

3.67%
2,245,673.83
2,245,790.29

99.58 3.72%
2,240,507.25
13,969.27

0.77%
(5,283.04)
Aa1/AA+
AA+

4.83 4.36
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030 2,500,000.00 12/08/2025

3.76%
2,471,093.75
2,471,459.65

98.99 3.73%
2,474,805.00
7,692.31

0.85%
3,345.35
Aa1/AA+
AA+

4.91 4.45

Page 37 of 329 ends

HOLDINGS REPORT
Cusip Security Description Par Value/
Units
Purchase Date
Purchase Yield
Cost Value
Book Value
Mkt Price
Mkt YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
Total US Treasury 111,730,000.00 3.78%
111,423,394.17
111,747,144.72
100.44

3.61%
112,204,285.27
1,177,324.84

38.67%
457,140.55

2.25 2.07
Total Portfolio 289,474,556.65 3.94%
288,422,369.47
289,036,269.59

63.94 3.78%
290,136,415.06
1,833,912.96
100.00%
1,100,145.47

1.65 1.45
Total Market Value
+ Accrued 291,970,328.02

Page 38 of 329 ends

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 12/01/2025 94975H312 18,091,385.06 ALLSPRING:TRS+ MM S 1.000 3.58% (18,091,385.06) 0.00 (18,091,385.06) 0.00 Purchase 12/02/2025 94975H312 13,000,000.00 ALLSPRING:TRS+ MM S 1.000 3.59% (13,000,000.00) 0.00 (13,000,000.00) 0.00 Purchase 12/05/2025 06051GHV4 1,000,000.00 BANK OF AMERICA CORP

3.194 07/23/2030 96.649 4.40% (966,490.00) (11,711.33) (978,201.33) 0.00 Purchase 12/05/2025 756109CC6 1,250,000.00 REALTY INCOME CORP 3.4 01/15/2030 97.200 4.15% (1,215,000.00) (16,527.78) (1,231,527.78) 0.00 Purchase 12/05/2025 24422EYE3 1,200,000.00 JOHN DEERE CAPITAL CORP 4.55 06/05/2030 101.816 4.10% (1,221,792.00) 0.00 (1,221,792.00) 0.00 Purchase 12/05/2025 91282CNG2 800,000.00 UNITED STATES TREASURY

4.0 05/31/2030 101.445 3.65% (811,562.50) (439.56) (812,002.06) 0.00 Purchase 12/05/2025 91282CMZ1 800,000.00 UNITED STATES TREASURY

3.875 04/30/2030 100.938 3.64% (807,500.00) (2,997.24) (810,497.24) 0.00 Purchase 12/05/2025 91282CLX7 2,000,000.00 UNITED STATES TREASURY

4.125 11/15/2027 101.098 3.54% (2,021,953.13) (4,558.01) (2,026,511.14) 0.00 Purchase 12/05/2025 91282CGC9 800,000.00 UNITED STATES TREASURY

3.875 12/31/2027 100.684 3.53% (805,468.75) (13,309.78) (818,778.53) 0.00 Purchase 12/09/2025 828807DZ7 2,000,000.00 SIMON PROPERTY GROUP LP 4.375 10/01/2030 100.436 4.27% (2,008,720.00) (26,736.11) (2,035,456.11) 0.00 Purchase 12/09/2025 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 99.016 3.79% (1,980,312.50) (1,557.78) (1,981,870.28) 0.00 Purchase 12/09/2025 91282CPN5 2,500,000.00 UNITED STATES TREASURY

3.5 11/30/2030 98.844 3.76% (2,471,093.75) (2,163.46) (2,473,257.21) 0.00 Purchase 12/09/2025 91282CNK3 1,000,000.00 UNITED STATES TREASURY

3.875 06/30/2030 100.570 3.74% (1,005,703.13) (17,058.42) (1,022,761.55) 0.00 Purchase 12/11/2025 95000U2A0 2,000,000.00 WELLS FARGO & CO 3.584 05/22/2028 99.240 4.61% (1,984,800.00) (3,783.11) (1,988,583.11) 0.00 Purchase 12/11/2025 40139LBP7 1,000,000.00

GUARDIAN LIFE GLOBAL
FUNDING 4.402
12/11/2030
100.000 4.40% (1,000,000.00) 0.00 (1,000,000.00) 0.00
Purchase 12/11/2025 61776NZU0 1,000,000.00

MORGAN STANLEY
PRIVATE BANK NA 4.204
11/17/2028
100.134 4.13% (1,001,340.00) (2,569.11) (1,003,909.11) 0.00

Page 39 of 329 ends

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Purchase 12/11/2025 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 99.660 3.84% (1,993,203.13) (2,100.00) (1,995,303.13) 0.00 Purchase 12/11/2025 459058LY7 2,000,000.00

INTERNATIONAL BANK

FOR RECONSTRUCTION
AND DEVELOPM 3.5
10/28/2030

98.641 3.81% (1,972,820.00) (8,361.11) (1,981,181.11) 0.00 Purchase 12/12/2025 63743HGC0 2,000,000.00

NATIONAL RURAL

UTILITIES COOPERATIVE
FINANCE CORP 4.3
12/10/2030
100.402 4.21% (2,008,040.00) (477.78) (2,008,517.78) 0.00 Purchase 12/12/2025 91282CGQ8 2,000,000.00 UNITED STATES TREASURY

4.0 02/28/2030 101.375 3.64% (2,027,500.00) (22,762.43) (2,050,262.43) 0.00 Purchase 12/12/2025 91282CKG5 800,000.00 UNITED STATES TREASURY

4.125 03/31/2029 101.699 3.57% (813,593.75) (6,618.13) (820,211.88) 0.00 Purchase 12/12/2025 91282CJW2 500,000.00 UNITED STATES TREASURY

4.0 01/31/2029 101.270 3.57% (506,347.66) (7,282.61) (513,630.27) 0.00 Purchase 12/12/2025 91282CGH8 2,000,000.00 UNITED STATES TREASURY

3.5 01/31/2028 99.961 3.52% (1,999,218.75) (25,489.13) (2,024,707.88) 0.00 Purchase 12/12/2025 91282CGP0 2,000,000.00 UNITED STATES TREASURY

4.0 02/29/2028 101.016 3.52% (2,020,312.50) (22,762.43) (2,043,074.93) 0.00 Purchase 12/12/2025 94975H312 31,762.50 ALLSPRING:TRS+ MM S 1.000 3.39% (31,762.50) 0.00 (31,762.50) 0.00 Purchase 12/15/2025 3137FBU79 1,500,000.00 FHMS K-069 A2 3.187 09/25/2027 98.770 3.83% (1,438,781.10) (1,805.43) (1,440,586.52) 0.00 Purchase 12/15/2025 94975H312 2,016.00 ALLSPRING:TRS+ MM S 1.000 3.39% (2,016.00) 0.00 (2,016.00) 0.00 Purchase 12/16/2025 94975H312 5,379.95 ALLSPRING:TRS+ MM S 1.000 3.42% (5,379.95) 0.00 (5,379.95) 0.00 Purchase 12/24/2025 571748CA8 750,000.00

MARSH & MCLENNAN
COMPANIES INC 4.65
03/15/2030
101.885 4.15% (764,137.50) (9,590.63) (773,728.13) 0.00 Purchase 12/24/2025 64952WFP3 2,000,000.00

NEW YORK LIFE
GLOBAL FUNDING 4.15
07/25/2028
100.504 3.94% (2,010,080.00) (34,352.78) (2,044,432.78) 0.00 Purchase 12/24/2025 91282CJF9 2,000,000.00 UNITED STATES TREASURY

4.875 10/31/2028 103.457 3.59% (2,069,140.63) (14,544.20) (2,083,684.83) 0.00 Purchase 12/26/2025 94975H312 2,629.17 ALLSPRING:TRS+ MM S 1.000 3.35% (2,629.17) 0.00 (2,629.17) 0.00

Page 40 of 329 ends

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Purchase 12/26/2025 94975H312 48,413.06 ALLSPRING:TRS+ MM S 1.000 3.35% (48,413.06) 0.00 (48,413.06) 0.00 Purchase 12/31/2025 85253$413 62,562.55 Wells Fargo Stagecoach Sweep Account 1.000 3.66% (62,562.55) 0.00 (62,562.55) 0.00 Purchase 12/31/2025 85253$413 38,996,348.95 Wells Fargo Stagecoach Sweep Account 1.000 3.66% (38,996,348.95) 0.00 (38,996,348.95) 0.00 Purchase 12/31/2025 94975H312 200,062.50 ALLSPRING:TRS+ MM S 1.000 3.37% (200,062.50) 0.00 (200,062.50) 0.00 Total Purchase 109,340,559.74 (109,365,470.52) (259,558.35) (109,625,028.86) 0.00 TOTAL
ACQUISITIONS 109,340,559.74 (109,365,470.52) (259,558.35) (109,625,028.86) 0.00

DISPOSITIONS
Maturity 12/02/2025 912797RR0 (13,000,000.00) UNITED STATES TREASURY 12/02/2025 100.000 3.99% 13,000,000.00 0.00 13,000,000.00 0.00 Maturity 12/11/2025 912797QY6 (7,750,000.00) UNITED STATES TREASURY 12/11/2025 100.000 3.98% 7,750,000.00 0.00 7,750,000.00 0.00 Maturity 12/12/2025 3130ATUC9 (1,800,000.00) FEDERAL HOME LOAN BANKS 4.5 12/12/2025 100.000 4.21% 1,800,000.00 0.00 1,800,000.00 0.00 Total Maturity (22,550,000.00) 22,550,000.00 0.00 22,550,000.00 0.00 Sale 12/05/2025 94975H312 (9,097.62) ALLSPRING:TRS+ MM S 1.000 3.52% 9,097.62 0.00 9,097.62 0.00 Sale 12/05/2025 94975H312 (7,899,310.08) ALLSPRING:TRS+ MM S 1.000 3.52% 7,899,310.08 0.00 7,899,310.08 0.00 Sale 12/09/2025 94975H312 (7,491,470.15) ALLSPRING:TRS+ MM S 1.000 3.50% 7,491,470.15 0.00 7,491,470.15 0.00 Sale 12/11/2025 94975H312 (218,976.46) ALLSPRING:TRS+ MM S 1.000 3.37% 218,976.46 0.00 218,976.46 0.00 Sale 12/12/2025 94975H312 (7,619,905.17) ALLSPRING:TRS+ MM S 1.000 3.39% 7,619,905.17 0.00 7,619,905.17 0.00 Sale 12/15/2025 94975H312 (1,343,023.05) ALLSPRING:TRS+ MM S 1.000 3.39% 1,343,023.05 0.00 1,343,023.05 0.00 Sale 12/24/2025 94975H312 (4,901,845.74) ALLSPRING:TRS+ MM S 1.000 3.36% 4,901,845.74 0.00 4,901,845.74 0.00 Sale 12/31/2025 85253$413 (13,262,866.01) Wells Fargo Stagecoach Sweep Account 1.000 3.66% 13,262,866.01 0.00 13,262,866.01 0.00 Total Sale (42,746,494.28) 42,746,494.28 0.00 42,746,494.28 0.00 TOTAL
DISPOSITIONS (65,296,494.28) 65,296,494.28 0.00 65,296,494.28 0.00

Page 41 of 329 ends

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
OTHER

TRANSACTIONS
Cash Transfer 12/31/2025 CCYUSD 25,733,482.94 Cash 0.00% 25,733,482.94 0.00 25,733,482.94 0.00 Total Cash
Transfer 25,733,482.94 25,733,482.94 0.00 25,733,482.94 0.00 Coupon 12/01/2025 3137FG6X8 0.00 FHMS K-077 A2 3.85
05/25/2028 4.65% 5,887.29 0.00 5,887.29 0.00
Coupon 12/01/2025 3137FRUT6 0.00 FHMS K-106 A2 2.069
01/25/2030 4.25% 1,724.17 0.00 1,724.17 0.00
Coupon 12/01/2025 3137FMTY8 0.00 FHMS K-094 A2 2.903
06/25/2029 3.79% 4,838.33 0.00 4,838.33 0.00
Coupon 12/09/2025 3130AWMN7 0.00 FEDERAL HOME LOAN
BANKS 4.375 06/09/2028 4.27% 21,875.00 0.00 21,875.00 0.00 Coupon 12/12/2025 91159HJM3 0.00 US BANCORP 5.775
06/12/2029 5.26% 31,762.50 0.00 31,762.50 0.00
Coupon 12/12/2025 3130ATUC9 0.00 FEDERAL HOME LOAN
BANKS 4.5 12/12/2025 4.21% 40,500.00 0.00 40,500.00 0.00 Coupon 12/14/2025 46647PDF0 0.00 JPMORGAN CHASE & CO

4.565 06/14/2030 4.19% 27,390.00 0.00 27,390.00 0.00
Coupon 12/15/2025 58768PAC8 0.00 MBART 2022-1 A3 5.21
08/16/2027 5.27% 831.54 0.00 831.54 0.00
Coupon 12/15/2025 161571HT4 0.00 CHAIT 2023-1 A 5.16
09/15/2028 5.23% 4,321.50 0.00 4,321.50 0.00
Coupon 12/15/2025 47800DAD6 0.00 JDOT 2025 A3 4.23
09/17/2029 5.09% 1,674.38 0.00 1,674.38 0.00
Coupon 12/15/2025 02582JJZ4 0.00 AMXCA 2023-1 A 4.87
05/15/2026 4.92% 1,521.87 0.00 1,521.87 0.00
Coupon 12/15/2025 44935CAD3 0.00 HART 2025-A A3 4.32
10/15/2029 4.84% 2,160.00 0.00 2,160.00 0.00
Coupon 12/15/2025 34535VAD6 0.00 FORDO 2024-D A3 4.61
08/15/2029 4.66% 2,228.17 0.00 2,228.17 0.00
Coupon 12/15/2025 89231GAD0 0.00 TAOT 2025-D A3 3.84
06/17/2030 4.27% 2,016.00 0.00 2,016.00 0.00

Page 42 of 329 ends

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Coupon 12/15/2025 34532BAG6 0.00 FORDO 2025-B A3 3.91
04/15/2030 4.27% 1,596.58 0.00 1,596.58 0.00
Coupon 12/15/2025 3133EPN50 0.00

FEDERAL FARM CREDIT

BANKS FUNDING CORP

4.25 12/15/2028

3.88% 21,250.00 0.00 21,250.00 0.00
Coupon 12/15/2025 47800AAC4 0.00 JDOT 2022-B A3 3.74
02/16/2027 3.77% 168.70 0.00 168.70 0.00
Coupon 12/16/2025 362585AC5 0.00 GMCAR 2022-2 A3 3.1
02/16/2027 3.13% 13.86 0.00 13.86 0.00
Coupon 12/25/2025 05592XAD2 0.00 BMWOT 2023-A A3 5.47
02/25/2028 5.47% 386.12 0.00 386.12 0.00
Coupon 12/25/2025 437076DC3 0.00 HOME DEPOT INC 4.75
06/25/2029 4.33% 25,531.25 0.00 25,531.25 0.00
Coupon 12/25/2025 05594HAD5 0.00 BMWLT 2025-2 A3 3.97
09/25/2028 4.32% 1,736.87 0.00 1,736.87 0.00
Coupon 12/31/2025 91282CMD0 0.00 UNITED STATES TREASURY

4.375 12/31/2029 4.38% 27,343.75 0.00 27,343.75 0.00
Coupon 12/31/2025 91282CJR3 0.00 UNITED STATES TREASURY

3.75 12/31/2028 3.96% 22,500.00 0.00 22,500.00 0.00
Coupon 12/31/2025 91282CNK3 0.00 UNITED STATES TREASURY

3.875 06/30/2030 3.87% 48,437.50 0.00 48,437.50 0.00
Coupon 12/31/2025 91282CKX8 0.00 UNITED STATES TREASURY

4.25 06/30/2029 3.67% 39,312.50 0.00 39,312.50 0.00
Coupon 12/31/2025 91282CGC9 0.00 UNITED STATES TREASURY

3.875 12/31/2027 3.58% 39,718.75 0.00 39,718.75 0.00
Coupon 12/31/2025 91282CEW7 0.00 UNITED STATES TREASURY

3.25 06/30/2027 3.00% 22,750.00 0.00 22,750.00 0.00
Total Coupon 0.00 399,476.63 0.00 399,476.63 0.00
Dividend 12/31/2025 85253$413 0.00 Wells Fargo Stagecoach Sweep Account 3.66% 62,562.55 0.00 62,562.55 0.00
Dividend 12/31/2025 94975H312 0.00 ALLSPRING:TRS+ MM S 3.41% 38,604.02 0.00 38,604.02 0.00 Total Dividend 0.00 101,166.57 0.00 101,166.57 0.00
Management Fee 12/05/2025 CCYUSD (9,097.62) Cash 0.00% (9,097.62) 0.00 (9,097.62) 0.00

Page 43 of 329 ends

TRANSACTION LEDGER
Transaction Type Settlement
Date CUSIP Quantity Security Description Price
Acq/
Disp
Yield
Amount Interest Pur/
Sold Total Amount Gain/Loss
Total
Management Fee (9,097.62) (9,097.62) 0.00 (9,097.62) 0.00 Principal Paydown 12/15/2025 58768PAC8 27,907.16 MBART 2022-1 A3 5.21 08/16/2027 5.27% 27,907.16 -- 27,907.16 (0.00)
Principal Paydown 12/15/2025 47800AAC4 9,142.74 JDOT 2022-B A3 3.74 02/16/2027 3.77% 9,142.74 -- 9,142.74 (0.00)
Principal Paydown 12/16/2025 362585AC5 5,366.09 GMCAR 2022-2 A3 3.1 02/16/2027 3.13% 5,366.09 -- 5,366.09 0.02
Principal Paydown 12/25/2025 05592XAD2 8,309.03 BMWOT 2023-A A3 5.47 02/25/2028 5.47% 8,309.03 -- 8,309.03 (0.00)
Total Principal
Paydown 50,725.02 50,725.02 -- 50,725.02 0.01

TOTAL OTHER
TRANSACTIONS 25,775,110.34 26,275,753.54 0.00 26,275,753.54 0.01

Page 44 of 329 ends

INCOME EARNED
Cusip Security Description
Trade Date
Settle Date
Units
Book Value: Begin
Book Value: Acq
Book Value: Disp
Book Value: End
Prior Accrued
Inc. Received
Ending Accrued
Total Interest
Accr. Of Discount
Amort. Of Premium
Net Accret/Amort
Income Earned
Total Income

CASH & EQUIVALENTS
85253$413 Wells Fargo Stagecoach
Sweep Account 44,982,009.75
19,185,964.26
39,058,911.50
(13,262,866.01)
44,982,009.75

0.00 62,562.55

0.00 0.00

0.00 62,562.55
62,562.55
912797QY6 UNITED STATES TREASURY
12/11/2025
09/15/2025
09/16/2025

0.00 7,741,578.98

0.00 (7,750,000.00)

0.00 0.00

0.00 8,421.02

0.00 8,421.02
8,421.02
8,421.02
912797RR0 UNITED STATES TREASURY
12/02/2025
11/26/2025
11/28/2025

0.00 12,998,578.31

0.00 (13,000,000.00)

0.00 0.00

0.00 1,421.70

0.00 1,421.70
1,421.70
1,421.70
94975H312 ALLSPRING:TRS+ MM S
3,630,628.54
1,732,608.57
31,381,648.24
(29,483,628.27)
3,630,628.54

0.00 43,822.56

0.00 0.00

0.00 43,822.56
43,822.56
CCYUSD Receivable
627,327.63
18,470,784.57

0.00 0.00
627,327.63

0.00 0.00

0.00 Total Cash & Equivalents 49,239,965.92
60,129,514.68
70,440,559.74
(63,496,494.28)
49,239,965.92

0.00 106,385.11

0.00 106,385.11
9,842.72

0.00 9,842.72
116,227.83 116,227.83

FIXED INCOME
00287YDZ9 ABBVIE INC 4.875
03/15/2030 2,200,000.00
2,250,687.55

0.00 0.00
2,249,665.23
22,641.67

0.00 31,579.17
8,937.50

0.00 (1,022.33)
(1,022.33)
7,915.17
7,915.17
023135CF1 AMAZON.COM INC 3.3
04/13/2027
04/25/2022
04/27/2022
750,000.00
749,643.40

0.00 0.00
749,665.60
3,300.00

0.00 5,362.50
2,062.50

22.20 0.00

22.20 2,084.70
2,084.70

Page 45 of 329 ends

0.00 0.00
374,994.60
811.67
1,521.87
811.67
1,521.87

1.25 0.00

1.25 1,523.12
1,523.12
02665WEM9 AMERICAN HONDA FINANCE
CORP 5.125 07/07/2028
08/17/2023
08/21/2023
1,200,000.00
1,194,369.91

0.00 0.00
1,194,553.82
24,600.00

0.00 29,725.00
5,125.00
183.91

0.00 183.91
5,308.91
5,308.91
037833ET3 APPLE INC 4.0 05/10/2028
05/08/2023
05/10/2023
205,000.00
204,807.05

0.00 0.00
204,813.76
478.33

0.00 1,161.67
683.33

6.71 0.00

6.71 690.05
690.05
05592XAD2 BMWOT 2023-A A3 5.47
02/25/2028
07/11/2023
07/18/2023
76,397.41
84,699.16

0.00 (8,309.03)
76,391.09

77.22 386.12

69.65 378.55

0.96 0.00

0.96 379.51
379.51
05594HAD5 BMWLT 2025-2 A3 3.97
09/25/2028
10/08/2025
10/15/2025
525,000.00
524,998.59

0.00 0.00
524,998.64
347.38
1,736.87
347.38
1,736.87

0.04 0.00

0.04 1,736.91
1,736.91
06051GGF0 BANK OF AMERICA CORP

3.824 01/20/2028
04/10/2023
04/12/2023
1,000,000.00
986,905.98

0.00 0.00
987,884.09
13,915.11

0.00 17,101.78
3,186.67
978.11

0.00 978.11
4,164.77
4,164.77
06051GHV4 BANK OF AMERICA CORP

3.194 07/23/2030
12/04/2025
12/05/2025
1,000,000.00

0.00 966,490.00

0.00 967,025.05

0.00 (11,711.33)
14,018.11
2,306.78
535.05

0.00 535.05
2,841.83
2,841.83
06051GMK2 BANK OF AMERICA CORP

4.979 01/24/2029
01/28/2025
01/29/2025
450,000.00
450,504.92

0.00 0.00
450,484.96
7,904.16

0.00 9,771.29
1,867.13

0.00 (19.97)
(19.97)
1,847.16
1,847.16
06406RAB3 BANK OF NEW YORK MELLON
CORP 3.442 02/07/2028
04/26/2023
04/28/2023
1,000,000.00
988,038.41

0.00 0.00
988,894.79
10,899.67

0.00 13,768.00
2,868.33
856.37

0.00 856.37
3,724.71
3,724.71

Page 46 of 329 ends

BERKSHIRE HATHAWAY
FINANCE CORP 2.3
03/15/2027
03/07/2022
03/15/2022
1,095,000.00
1,094,946.56

0.00 0.00
1,094,950.10
5,316.83

0.00 7,415.58
2,098.75

3.53 0.00

3.53 2,102.28
2,102.28
14913R3A3

CATERPILLAR FINANCIAL
SERVICES CORP 3.6
08/12/2027
08/22/2022
08/24/2022
700,000.00
697,714.07

0.00 0.00
697,828.55
7,630.00

0.00 9,730.00
2,100.00
114.48

0.00 114.48
2,214.48
2,214.48
14913UAJ9

CATERPILLAR FINANCIAL
SERVICES CORP 4.85
02/27/2029
05/21/2024
05/23/2024
450,000.00
450,131.59

0.00 0.00
450,128.15
5,698.75

0.00 7,517.50
1,818.75

0.00 (3.45)
(3.45)
1,815.30
1,815.30
161571HT4 CHAIT 2023-1 A 5.16
09/15/2028
09/07/2023
09/15/2023
1,005,000.00
1,004,844.62

0.00 0.00
1,004,849.34
2,304.80
4,321.50
2,304.80
4,321.50

4.73 0.00

4.73 4,326.23
4,326.23
24422EXH7 JOHN DEERE CAPITAL CORP

4.5 01/16/2029
04/23/2024
04/25/2024
1,200,000.00
1,180,685.85

0.00 0.00
1,181,210.14
20,250.00

0.00 24,750.00
4,500.00
524.29

0.00 524.29
5,024.29
5,024.29
24422EYE3 JOHN DEERE CAPITAL CORP

4.55 06/05/2030
12/04/2025
12/05/2025
1,200,000.00

0.00 1,221,792.00

0.00 1,221,433.88

0.00 0.00
3,943.33
3,943.33

0.00 (358.12)
(358.12)
3,585.22
3,585.22
3130ATUC9 FEDERAL HOME LOAN BANKS

4.5 12/12/2025
02/08/2023
02/09/2023

0.00 1,800,143.97

0.00 (1,800,000.00)

0.00 38,025.00
40,500.00

0.00 2,475.00

0.00 (143.97)
(143.97)
2,331.03
2,331.03
3130AVBD3 FEDERAL HOME LOAN BANKS

4.5 03/09/2029
04/22/2024
04/23/2024
1,000,000.00
993,778.60

0.00 0.00
993,940.12
10,250.00

0.00 14,000.00
3,750.00
161.53

0.00 161.53
3,911.53
3,911.53
3130AWMN7 FEDERAL HOME LOAN BANKS

4.375 06/09/2028
07/26/2023
07/27/2023
1,000,000.00
1,002,329.68

0.00 0.00
1,002,251.26
20,902.78
21,875.00
2,673.61
3,645.83

0.00 (78.41)
(78.41)
3,567.42
3,567.42

Page 47 of 329 ends

4.375 09/08/2028
09/21/2023
09/22/2023
1,000,000.00
991,945.31

0.00 0.00
992,192.04
10,086.81

0.00 13,732.64
3,645.83
246.73

0.00 246.73
3,892.57
3,892.57
3133EPN50

FEDERAL FARM CREDIT
BANKS FUNDING CORP 4.25
12/15/2028
12/28/2023
12/29/2023
1,000,000.00
1,010,236.73

0.00 0.00
1,009,950.84
19,597.22
21,250.00
1,888.89
3,541.67

0.00 (285.89)
(285.89)
3,255.78
3,255.78
3137FBU79 FHMS K-069 A2 3.187
09/25/2027
12/10/2025
12/15/2025
1,456,705.40

0.00 1,438,781.10

0.00 1,439,268.64

0.00 (1,805.43)
3,868.77
2,063.34
487.54

0.00 487.54
2,550.88
2,550.88
3137FG6X8 FHMS K-077 A2 3.85
05/25/2028
05/24/2023
05/30/2023
1,835,000.00
1,818,473.81

0.00 0.00
1,819,054.66
5,887.29
5,887.29
5,887.29
5,887.29
580.85

0.00 580.85
6,468.14
6,468.14
3137FJZ93 FHMS K-084 A2 3.78
10/25/2028
12/08/2025
12/11/2025
2,000,000.00

0.00 1,993,203.13

0.00 1,993,342.38

0.00 (2,100.00)
6,300.00
4,200.00
139.25

0.00 139.25
4,339.25
4,339.25
3137FLN91 FHMS K-091 A2 3.505
03/25/2029
12/04/2025
12/09/2025
2,000,000.00

0.00 1,980,312.50

0.00 1,980,696.89

0.00 (1,557.78)
5,841.67
4,283.89
384.39

0.00 384.39
4,668.28
4,668.28
3137FMTY8 FHMS K-094 A2 2.903
06/25/2029
11/24/2025
11/28/2025
2,000,000.00
1,939,984.63

0.00 0.00
1,941,440.40
4,838.33
4,838.33
4,838.33
4,838.33
1,455.77

0.00 1,455.77
6,294.10
6,294.10
3137FRUT6 FHMS K-106 A2 2.069
01/25/2030
07/14/2025
07/17/2025
1,000,000.00
918,892.82

0.00 0.00
920,578.02
1,724.17
1,724.17
1,724.17
1,724.17
1,685.20

0.00 1,685.20
3,409.37
3,409.37
34532BAG6 FORDO 2025-B A3 3.91
04/15/2030
09/23/2025
09/26/2025
490,000.00
489,949.23

0.00 0.00
489,950.22
851.51
1,596.58
851.51
1,596.58

0.99 0.00

0.99 1,597.57
1,597.57

Page 48 of 329 ends

0.00 0.00
579,985.75
1,188.36
2,228.17
1,188.36
2,228.17

0.33 0.00

0.33 2,228.50
2,228.50
362585AC5 GMCAR 2022-2 A3 3.1
02/16/2027
04/05/2022
04/13/2022

0.00 5,365.81

0.00 (5,366.07)

0.00 6.93

13.86 0.00

6.93 0.26

0.00 0.26

7.19 7.19
40139LBP7 GUARDIAN LIFE GLOBAL
FUNDING 4.402 12/11/2030
12/08/2025
12/11/2025
1,000,000.00

0.00 1,000,000.00

0.00 0.00
2,445.56
2,445.56

0.00 0.00

0.00 2,445.56
2,445.56
437076DC3 HOME DEPOT INC 4.75
06/25/2029 1,075,000.00
1,089,101.67

0.00 0.00
1,088,756.59
22,127.08
25,531.25
851.04
4,255.21

46.54 (391.62)
(345.08)
3,910.13
3,910.13
44935CAD3 HART 2025-A A3 4.32
10/15/2029
03/04/2025
03/12/2025
600,000.00
599,925.42

0.00 0.00
599,927.06
1,152.00
2,160.00
1,152.00
2,160.00

1.64 0.00

1.64 2,161.64
2,161.64
4581X0EN4

INTER-AMERICAN
DEVELOPMENT BANK 4.125
02/15/2029
02/15/2024
02/20/2024
1,250,000.00
1,243,390.61

0.00 0.00
1,243,565.44
15,182.29

0.00 19,479.17
4,296.88
174.82

0.00 174.82
4,471.70
4,471.70
459058LN1

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.875 10/16/2029
10/28/2024
10/29/2024
1,000,000.00
990,930.89

0.00 0.00
991,129.58
4,840.00

0.00 8,070.00
3,230.00
198.69

0.00 198.69
3,428.69
3,428.69
459058LR2

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 4.125 03/20/2030
03/27/2025
03/28/2025
1,000,000.00
996,416.12

0.00 0.00
996,486.88
8,135.42

0.00 11,572.92
3,437.50

70.76 0.00

70.76 3,508.26
3,508.26
459058LY7

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.5 10/28/2030
12/10/2025
12/11/2025
2,000,000.00

0.00 1,972,820.00

0.00 1,973,140.30

0.00 (8,361.11)
12,250.00
3,888.89
320.30

0.00 320.30
4,209.19
4,209.19

Page 49 of 329 ends

0.00 0.00
519,708.08
8,970.00

0.00 10,920.00
1,950.00

9.79 0.00

9.79 1,959.79
1,959.79
46647PAV8 JPMORGAN CHASE & CO

4.203 07/23/2029 1,300,000.00
1,280,250.60

0.00 0.00
1,280,885.03
19,427.20

0.00 23,980.45
4,553.25
634.44

0.00 634.44
5,187.69
5,187.69
46647PDF0 JPMORGAN CHASE & CO

4.565 06/14/2030
11/24/2025
11/25/2025
1,200,000.00
1,214,655.89

0.00 0.00
1,214,303.96
25,411.83
27,390.00
2,586.83
4,565.00

0.00 (351.92)
(351.92)
4,213.08
4,213.08
47800AAC4 JDOT 2022-B A3 3.74
02/16/2027
07/12/2022
07/20/2022
44,985.83
54,127.25

0.00 (9,142.74)
44,984.81

89.97 168.70

74.78 153.50

0.30 0.00

0.30 153.80
153.80
47800DAD6 JDOT 2025 A3 4.23
09/17/2029
03/04/2025
03/11/2025
475,000.00
474,974.92

0.00 0.00
474,975.48
893.00
1,674.38
893.00
1,674.38

0.56 0.00

0.56 1,674.94
1,674.94
571748CA8

MARSH & MCLENNAN
COMPANIES INC 4.65
03/15/2030 1,995,000.00
1,240,767.55
764,137.50

0.00 2,004,914.18
12,221.75
(9,590.63)
27,314.88
5,502.50

83.84 (74.70)

9.13 5,511.63
5,511.63
58768PAC8 MBART 2022-1 A3 5.21
08/16/2027
11/15/2022
11/22/2022
163,617.48
191,511.10

0.00 (27,907.16)
163,606.48
443.49
831.54
378.87
766.92

2.55 0.00

2.55 769.47
769.47
61747YFD2 MORGAN STANLEY 5.164
04/20/2029
05/30/2024
05/31/2024
1,200,000.00
1,192,845.53

0.00 0.00
1,193,100.17
7,057.47

0.00 12,221.47
5,164.00
254.64

0.00 254.64
5,418.64
5,418.64
61776NZU0 MORGAN STANLEY PRIVATE
BANK NA 4.204 11/17/2028
12/10/2025
12/11/2025
1,000,000.00

0.00 1,001,340.00

0.00 1,001,300.14

0.00 (2,569.11)
4,904.67
2,335.56

0.00 (39.86)
(39.86)
2,295.70
2,295.70

Page 50 of 329 ends

NATIONAL RURAL UTILITIES

COOPERATIVE FINANCE CORP

4.3 12/10/2030
12/11/2025
12/12/2025
2,000,000.00

0.00 2,008,040.00

0.00 2,007,950.37

0.00 (477.78)
5,016.67
4,538.89

0.00 (89.63)
(89.63)
4,449.25
4,449.25
64952WFP3 NEW YORK LIFE GLOBAL
FUNDING 4.15 07/25/2028
12/23/2025
12/24/2025
2,000,000.00

0.00 2,010,080.00

0.00 2,009,994.58

0.00 (34,352.78)
35,966.67
1,613.89

0.00 (85.42)
(85.42)
1,528.46
1,528.46
69371RS80 PACCAR FINANCIAL CORP 4.6
01/31/2029
01/24/2024
01/31/2024
1,200,000.00
1,198,761.31

0.00 0.00
1,198,794.50
18,553.33

0.00 23,153.33
4,600.00

33.19 0.00

33.19 4,633.19
4,633.19
69371RU20 PACCAR FINANCIAL CORP 4.0
11/07/2028
11/25/2025
11/26/2025
1,200,000.00
1,207,345.74

0.00 0.00
1,207,133.31
3,200.00

0.00 7,200.00
4,000.00

0.00 (212.42)
(212.42)
3,787.58
3,787.58
74340XBM2 PROLOGIS LP 2.25
04/15/2030
11/24/2025
11/25/2025
1,200,000.00
1,111,460.85

0.00 0.00
1,113,180.60
3,450.00

0.00 5,700.00
2,250.00
1,719.75

0.00 1,719.75
3,969.75
3,969.75
74340XBN0 PROLOGIS LP 2.125
04/15/2027
11/09/2022
11/14/2022
1,000,000.00
963,202.11

0.00 0.00
965,483.58
2,715.28

0.00 4,486.11
1,770.83
2,281.47

0.00 2,281.47
4,052.30
4,052.30
74456QBU9 PUBLIC SERVICE ELECTRIC
AND GAS CO 3.7 05/01/2028
09/06/2023
09/08/2023
1,250,000.00
1,212,832.04

0.00 0.00
1,214,138.40
3,854.17

0.00 7,708.33
3,854.17
1,306.36

0.00 1,306.36
5,160.52
5,160.52
756109AU8 REALTY INCOME CORP 3.65
01/15/2028
04/24/2023
04/26/2023
1,000,000.00
979,993.77

0.00 0.00
980,794.02
13,788.89

0.00 16,830.56
3,041.67
800.25

0.00 800.25
3,841.92
3,841.92
756109CC6 REALTY INCOME CORP 3.4
01/15/2030
12/04/2025
12/05/2025
1,250,000.00

0.00 1,215,000.00

0.00 1,215,629.16

0.00 (16,527.78)
19,597.22
3,069.44
629.16

0.00 629.16
3,698.60
3,698.60

Page 51 of 329 ends

0.00 0.00
992,618.62
17,333.33

0.00 21,666.67
4,333.33
242.65

0.00 242.65
4,575.99
4,575.99
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 1,000,000.00
996,329.72

0.00 0.00
996,578.69
5,988.89

0.00 8,030.56
2,041.67
248.97

0.00 248.97
2,290.64
2,290.64
828807DZ7 SIMON PROPERTY GROUP LP

4.375 10/01/2030
12/08/2025
12/09/2025
2,000,000.00

0.00 2,008,720.00

0.00 2,008,603.87

0.00 (26,736.11)
32,083.33
5,347.22

0.00 (116.13)
(116.13)
5,231.09
5,231.09
857449AE2 STATE STREET BANK AND
TRUST CO 4.782 11/23/2029
01/15/2025
01/16/2025
1,250,000.00
1,243,337.68

0.00 0.00
1,243,479.83
1,328.33

0.00 6,309.58
4,981.25
142.14

0.00 142.14
5,123.39
5,123.39
87612EBM7 TARGET CORP 1.95
01/15/2027
01/19/2022
01/24/2022
545,000.00
544,790.94

0.00 0.00
544,806.75
4,014.83

0.00 4,900.46
885.63

15.81 0.00

15.81 901.43
901.43
89115A2M3 TORONTO-DOMINION BANK

5.156 01/10/2028
06/28/2023
06/30/2023
1,100,000.00
1,097,645.80

0.00 0.00
1,097,740.58
22,213.77

0.00 26,940.10
4,726.33

94.78 0.00

94.78 4,821.11
4,821.11
89231GAD0 TAOT 2025-D A3 3.84
06/17/2030
10/15/2025
10/23/2025
630,000.00
629,929.21

0.00 0.00
629,930.54
1,075.20
2,016.00
1,075.20
2,016.00

1.32 0.00

1.32 2,017.32
2,017.32
89236TFT7 TOYOTA MOTOR CREDIT
CORP 3.65 01/08/2029
11/25/2025
11/26/2025
1,500,000.00
1,488,321.49

0.00 0.00
1,488,640.75
21,747.92

0.00 26,310.42
4,562.50
319.25

0.00 319.25
4,881.75
4,881.75
89236TMF9 TOYOTA MOTOR CREDIT
CORP 5.05 05/16/2029
05/21/2024
05/23/2024
500,000.00
500,676.44

0.00 0.00
500,659.83
1,052.08

0.00 3,156.25
2,104.17

0.00 (16.62)
(16.62)
2,087.55
2,087.55

Page 52 of 329 ends

0.00 0.00
1,112,244.92
29,821.46
31,762.50
3,352.71
5,293.75

0.00 (425.08)
(425.08)
4,868.67
4,868.67
9128283W8 UNITED STATES TREASURY

2.75 02/15/2028
03/08/2023
03/09/2023
1,250,000.00
1,210,273.66

0.00 0.00
1,211,801.60
10,088.32

0.00 12,984.04
2,895.72
1,527.94

0.00 1,527.94
4,423.66
4,423.66
9128285M8 UNITED STATES TREASURY

3.125 11/15/2028
11/17/2023
11/20/2023
1,000,000.00
964,179.99

0.00 0.00
965,208.15
1,381.22

0.00 4,057.32
2,676.10
1,028.17

0.00 1,028.17
3,704.27
3,704.27
912828V98 UNITED STATES TREASURY

2.25 02/15/2027
02/06/2023
02/07/2023
1,250,000.00
1,226,913.00

0.00 0.00
1,228,535.90
8,254.08

0.00 10,623.30
2,369.23
1,622.90

0.00 1,622.90
3,992.12
3,992.12
912828Z78 UNITED STATES TREASURY 1.5
01/31/2027
03/30/2022
03/31/2022
500,000.00
494,773.32

0.00 0.00
495,153.66
2,506.79

0.00 3,138.59
631.79
380.35

0.00 380.35
1,012.14
1,012.14
91282CCP4 UNITED STATES TREASURY

0.625 07/31/2026
08/10/2021
08/11/2021
1,000,000.00
998,734.38

0.00 0.00
998,896.50
2,088.99

0.00 2,615.49
526.49
162.13

0.00 162.13
688.62
688.62
91282CCW9 UNITED STATES TREASURY

0.75 08/31/2026 2,250,000.00
2,246,405.72

0.00 0.00
2,246,813.87
4,288.67

0.00 5,733.77
1,445.10
408.14

0.00 408.14
1,853.24
1,853.24
91282CDG3 UNITED STATES TREASURY

1.125 10/31/2026 3,000,000.00
2,996,179.67

0.00 0.00
2,996,534.25
2,890.19

0.00 5,780.39
2,890.19
354.58

0.00 354.58
3,244.78
3,244.78
91282CEF4 UNITED STATES TREASURY 2.5
03/31/2027
09/27/2022
09/28/2022
1,250,000.00
1,223,712.66

0.00 0.00
1,225,392.88
5,322.80

0.00 7,984.20
2,661.40
1,680.22

0.00 1,680.22
4,341.62
4,341.62

Page 53 of 329 ends

2.75 04/30/2027 2,500,000.00
2,484,341.55

0.00 0.00
2,485,284.10
5,887.43

0.00 11,774.86
5,887.43
942.55

0.00 942.55
6,829.98
6,829.98
91282CEW7 UNITED STATES TREASURY

3.25 06/30/2027
07/12/2022
07/13/2022
1,400,000.00
1,405,177.61

0.00 0.00
1,404,898.95
19,040.76
22,750.00
125.69
3,834.93

0.00 (278.66)
(278.66)
3,556.27
3,556.27
91282CFH9 UNITED STATES TREASURY

3.125 08/31/2027
09/08/2022
09/09/2022
1,000,000.00
996,173.25

0.00 0.00
996,359.19
7,941.99

0.00 10,618.09
2,676.10
185.94

0.00 185.94
2,862.04
2,862.04
91282CFJ5 UNITED STATES TREASURY

3.125 08/31/2029
09/27/2024
09/30/2024
1,500,000.00
1,478,249.09

0.00 0.00
1,478,741.62
11,912.98

0.00 15,927.14
4,014.16
492.53

0.00 492.53
4,506.69
4,506.69
91282CFM8 UNITED STATES TREASURY

4.125 09/30/2027
10/28/2022
10/31/2022
1,000,000.00
998,837.05

0.00 0.00
998,891.02
7,026.10

0.00 10,539.15
3,513.05

53.97 0.00

53.97 3,567.02
3,567.02
91282CFU0 UNITED STATES TREASURY

4.125 10/31/2027
12/20/2022
12/21/2022
1,100,000.00
1,105,414.79

0.00 0.00
1,105,174.65
3,885.70

0.00 7,771.41
3,885.70

0.00 (240.14)
(240.14)
3,645.56
3,645.56
91282CGC9 UNITED STATES TREASURY

3.875 12/31/2027 2,050,000.00
1,256,064.57
805,468.75

0.00 2,061,090.64
20,270.04
26,408.97
219.44
6,358.37

0.00 (442.68)
(442.68)
5,915.69
5,915.69
91282CGH8 UNITED STATES TREASURY 3.5
01/31/2028
12/11/2025
12/12/2025
2,000,000.00

0.00 1,999,218.75

0.00 1,999,238.78

0.00 (25,489.13)
29,293.48
3,804.35

20.03 0.00

20.03 3,824.38
3,824.38
91282CGP0 UNITED STATES TREASURY 4.0
02/29/2028
12/11/2025
12/12/2025
2,000,000.00

0.00 2,020,312.50

0.00 2,019,810.34

0.00 (22,762.43)
27,182.32
4,419.89

0.00 (502.16)
(502.16)
3,917.73
3,917.73

Page 54 of 329 ends

0.00 2,027,500.00

0.00 2,027,142.63

0.00 (22,762.43)
27,182.32
4,419.89

0.00 (357.37)
(357.37)
4,062.52
4,062.52
91282CGT2 UNITED STATES TREASURY

3.625 03/31/2028
06/29/2023
06/30/2023
1,750,000.00
1,729,625.76

0.00 0.00
1,730,367.94
10,805.29

0.00 16,207.93
5,402.64
742.19

0.00 742.19
6,144.83
6,144.83
91282CHA2 UNITED STATES TREASURY 3.5
04/30/2028 2,180,000.00
2,177,709.81

0.00 0.00
2,177,790.40
6,533.98

0.00 13,067.96
6,533.98
112.68
(32.10)

80.59 6,614.56
6,614.56
91282CHQ7 UNITED STATES TREASURY

4.125 07/31/2028
09/28/2023
09/29/2023
1,000,000.00
986,922.04

0.00 0.00
987,338.71
13,787.36

0.00 17,262.23
3,474.86
416.67

0.00 416.67
3,891.53
3,891.53
91282CHX2 UNITED STATES TREASURY

4.375 08/31/2028
09/25/2023
09/26/2023
1,500,000.00
1,491,997.28

0.00 0.00
1,492,244.38
16,678.18

0.00 22,298.00
5,619.82
247.10

0.00 247.10
5,866.92
5,866.92
91282CJA0 UNITED STATES TREASURY

4.625 09/30/2028 1,850,000.00
1,836,116.80

0.00 0.00
1,836,533.03
14,573.83

0.00 21,860.75
7,286.92
416.23

0.00 416.23
7,703.14
7,703.14
91282CJF9 UNITED STATES TREASURY

4.875 10/31/2028
12/23/2025
12/24/2025
2,000,000.00

0.00 2,069,140.63

0.00 2,068,609.80

0.00 (14,544.20)
16,698.90
2,154.70

0.00 (530.83)
(530.83)
1,623.86
1,623.86
91282CJL6 UNITED STATES TREASURY

4.875 11/30/2025 0.00

0.00 0.00

0.00 426,562.50

0.00 0.00

0.00 426,562.50
426,562.50
91282CJN2 UNITED STATES TREASURY

4.375 11/30/2028
12/21/2023
12/22/2023
1,500,000.00
1,522,358.30

0.00 0.00
1,521,725.33
180.29
32,812.50
5,769.23
38,401.44

0.00 (632.97)
(632.97)
37,768.47
37,768.47

Page 55 of 329 ends

3.75 12/31/2028
01/30/2024
01/31/2024
1,200,000.00
1,192,858.66

0.00 0.00
1,193,055.27
18,831.52
22,500.00
124.31
3,792.79
196.61

0.00 196.61
3,989.40
3,989.40
91282CJV4 UNITED STATES TREASURY

4.25 01/31/2026 30,000,000.00
30,003,844.14

0.00 0.00
30,001,890.56
426,154.89

0.00 533,559.78
107,404.89
131.62
(2,085.20)
(1,953.58)
105,451.31
105,451.31
91282CJW2 UNITED STATES TREASURY 4.0
01/31/2029 2,000,000.00
1,486,629.72
506,347.66

0.00 1,993,224.84
20,054.35
(7,282.61)
33,478.26
6,141.30
358.24
(110.78)
247.46
6,388.76
6,388.76
91282CKD2 UNITED STATES TREASURY

4.25 02/28/2029
03/25/2024
03/26/2024
1,000,000.00
1,000,360.03

0.00 0.00
1,000,350.61
10,801.11

0.00 14,440.61
3,639.50

0.00 (9.42)
(9.42)
3,630.08
3,630.08
91282CKG5 UNITED STATES TREASURY

4.125 03/31/2029 2,000,000.00
1,189,114.48
813,593.75

0.00 2,002,760.11
8,431.32
(6,618.13)
21,078.30
6,028.85
277.51
(225.62)

51.89 6,080.73
6,080.73
91282CKP5 UNITED STATES TREASURY

4.625 04/30/2029
05/28/2024
05/29/2024
1,000,000.00
1,002,410.57

0.00 0.00
1,002,350.60
3,960.64

0.00 7,921.27
3,960.64

0.00 (59.97)
(59.97)
3,900.66
3,900.66
91282CKT7 UNITED STATES TREASURY 4.5
05/31/2029
06/26/2024
06/27/2024
1,250,000.00
1,256,516.10

0.00 0.00
1,256,357.92
154.53
28,125.00
4,945.05
32,915.52

0.00 (158.18)
(158.18)
32,757.34
32,757.34
91282CKX8 UNITED STATES TREASURY

4.25 06/30/2029 1,850,000.00
1,884,776.67

0.00 0.00
1,883,951.82
32,902.85
39,312.50
217.20
6,626.84

0.00 (824.85)
(824.85)
5,801.99
5,801.99
91282CLC3 UNITED STATES TREASURY 4.0
07/31/2029 1,750,000.00
1,749,043.00

0.00 0.00
1,749,065.17
23,396.74

0.00 29,293.48
5,896.74

87.54 (65.37)

22.17 5,918.91
5,918.91

Page 56 of 329 ends

0.00 0.00
1,217,041.27
7,451.92

0.00 11,177.88
3,725.96
746.87

0.00 746.87
4,472.83
4,472.83
91282CLR0 UNITED STATES TREASURY

4.125 10/31/2029
11/19/2024
11/20/2024
1,250,000.00
1,245,167.20

0.00 0.00
1,245,271.97
4,415.57

0.00 8,831.15
4,415.57
104.77

0.00 104.77
4,520.34
4,520.34
91282CLX7 UNITED STATES TREASURY

4.125 11/15/2027
12/04/2025
12/05/2025
2,000,000.00

0.00 2,021,953.13

0.00 2,021,118.29

0.00 (4,558.01)
10,711.33
6,153.32

0.00 (834.84)
(834.84)
5,318.48
5,318.48
91282CMA6 UNITED STATES TREASURY

4.125 11/30/2029 1,700,000.00
1,702,329.86

0.00 0.00
1,702,280.39
192.65
35,062.50
6,164.84
41,034.68

1.74 (51.21)
(49.47)
40,985.21
40,985.21
91282CMD0 UNITED STATES TREASURY

4.375 12/31/2029 1,250,000.00
1,249,722.07

0.00 0.00
1,249,727.84
22,885.53
27,343.75
151.07
4,609.29

7.29 (1.52)

5.78 4,615.07
4,615.07
91282CMG3 UNITED STATES TREASURY

4.25 01/31/2030
11/26/2025
11/28/2025
2,200,000.00
2,259,866.38

0.00 0.00
2,258,647.02
31,251.36

0.00 39,127.72
7,876.36

0.00 (1,219.35)
(1,219.35)
6,657.00
6,657.00
91282CMU2 UNITED STATES TREASURY 4.0
03/31/2030 2,250,000.00
2,269,056.24

0.00 0.00
2,268,682.59
15,329.67

0.00 22,994.51
7,664.84

0.00 (373.65)
(373.65)
7,291.18
7,291.18
91282CMZ1 UNITED STATES TREASURY

3.875 04/30/2030 2,050,000.00
1,239,546.56
807,500.00

0.00 2,047,121.70
4,147.96
(2,997.24)
13,605.32
6,460.12
201.15
(126.01)

75.14 6,535.26
6,535.26
91282CNG2 UNITED STATES TREASURY 4.0
05/31/2030 2,050,000.00
1,254,983.18
811,562.50

0.00 2,066,261.01
137.36
24,560.44
7,208.79
31,631.87

0.00 (284.67)
(284.67)
31,347.20
31,347.20

Page 57 of 329 ends

3.875 06/30/2030 2,500,000.00
1,494,505.92
1,005,703.13

0.00 2,500,232.08
24,324.05
31,379.08
267.61
7,322.64
101.86
(78.83)

23.03 7,345.68
7,345.68
91282CNN7 UNITED STATES TREASURY

3.875 07/31/2030 2,250,000.00
2,267,208.05

0.00 0.00
2,266,894.81
29,141.47

0.00 36,486.07
7,344.60

0.00 (313.24)
(313.24)
7,031.36
7,031.36
91282CNX5 UNITED STATES TREASURY

3.625 08/31/2030 2,250,000.00
2,249,127.75

0.00 0.00
2,249,143.34
20,728.59

0.00 27,713.23
6,984.63

58.77 (43.17)

15.59 7,000.23
7,000.23
91282CPA3 UNITED STATES TREASURY

3.625 09/30/2030 2,100,000.00
2,094,795.80

0.00 0.00
2,094,887.26
12,966.35

0.00 19,449.52
6,483.17

95.56 (4.11)

91.46 6,574.63
6,574.63
91282CPD7 UNITED STATES TREASURY

3.625 10/31/2030 2,250,000.00
2,245,716.31

0.00 0.00
2,245,790.29
6,984.63

0.00 13,969.27
6,984.63

79.36 (5.38)

73.98 7,058.61
7,058.61
91282CPN5 UNITED STATES TREASURY 3.5
11/30/2030
12/08/2025
12/09/2025
2,500,000.00

0.00 2,471,093.75

0.00 2,471,459.65

0.00 (2,163.46)
7,692.31
5,528.85
365.90

0.00 365.90
5,894.75
5,894.75
927804GH1 VIRGINIA ELECTRIC AND
POWER CO 3.75 05/15/2027
05/16/2022
05/31/2022
250,000.00
249,771.60

0.00 0.00
249,784.96
416.67

0.00 1,197.92
781.25

13.36 0.00

13.36 794.61
794.61
931142ER0 WALMART INC 1.05
09/17/2026
09/08/2021
09/17/2021
240,000.00
239,927.96

0.00 0.00
239,935.66
518.00

0.00 728.00
210.00

7.70 0.00

7.70 217.70
217.70
931142EX7 WALMART INC 3.95
09/09/2027 09/09/2022
500,000.00
499,775.43

0.00 0.00
499,786.19
4,498.61

0.00 6,144.44
1,645.83

10.76 0.00

10.76 1,656.59
1,656.59

Page 58 of 329 ends

0.00 1,984,800.00

0.00 1,985,157.45

0.00 (3,783.11)
7,765.33
3,982.22
357.45

0.00 357.45
4,339.67
4,339.67
Total Fixed Income 183,061,706.11
145,530,834.29
38,924,910.78
(1,850,725.01)
182,623,419.05
1,421,046.32
687,480.78
1,833,912.96
1,100,347.43
32,006.81
(13,607.82)
18,398.99
1,118,746.42 1,118,746.42
LAIF
90LAIF$00 Local Agency Investment
Fund State Pool 57,172,884.62
57,172,884.62

0.00 0.00
57,172,884.62

0.00 0.00

0.00 Total LAIF 57,172,884.62
57,172,884.62

0.00 0.00
57,172,884.62

0.00 0.00

0.00 0.00 0.00
TOTAL PORTFOLIO 289,474,556.65
262,833,233.60
109,365,470.52
(65,347,219.29)
289,036,269.59
1,421,046.32
793,865.89
1,833,912.96
1,206,732.54
41,849.53
(13,607.82)
28,241.71
1,234,974.25 1,234,974.25

Page 59 of 329 ends

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount JANUARY 2026
01/02/2026 Dividend 94975H312 0.00 ALLSPRING:TRS+ MM S 38,604.02 38,604.02 01/07/2026 Coupon 02665WEM9 1,200,000.00 AMERICAN HONDA FINANCE CORP 5.125 07/07/2028 30,750.00 30,750.00
01/08/2026 Coupon 89236TFT7 1,500,000.00 TOYOTA MOTOR CREDIT CORP 3.65 01/08/2029 27,375.00 27,375.00 01/12/2026 Coupon 89115A2M3 1,100,000.00 TORONTO-DOMINION BANK 5.156 01/10/2028 28,358.00 28,358.00 01/13/2026 Coupon 45950KDD9 520,000.00 INTERNATIONAL FINANCE CORP 4.5 07/13/2028 11,700.00 11,700.00
01/15/2026 Coupon 02582JJZ4 375,000.00 AMXCA 2023-1 A 4.87 05/15/2026 1,521.88 1,521.88 01/15/2026 Coupon 161571HT4 1,005,000.00 CHAIT 2023-1 A 5.16 09/15/2028 4,321.50 4,321.50 01/15/2026 Coupon 34532BAG6 490,000.00 FORDO 2025-B A3 3.91 04/15/2030 1,596.58 1,596.58 01/15/2026 Coupon 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 2,228.17 2,228.17 01/15/2026 Coupon 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 2,160.00 2,160.00 01/15/2026 Coupon 47800AAC4 44,985.83 JDOT 2022-B A3 3.74 02/16/2027 140.21 140.21 01/15/2026 Principal Paydown 47800AAC4 44,985.83 JDOT 2022-B A3 3.74 02/16/2027 16,026.83 16,026.83 01/15/2026 Coupon 47800DAD6 475,000.00 JDOT 2025 A3 4.23 09/17/2029 1,674.38 1,674.38 01/15/2026 Coupon 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 784.90 784.90 01/15/2026 Principal Paydown 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 26,517.20 26,517.20 01/15/2026 Coupon 756109AU8 1,000,000.00 REALTY INCOME CORP 3.65 01/15/2028 18,250.00 18,250.00 01/15/2026 Coupon 756109CC6 1,250,000.00 REALTY INCOME CORP 3.4 01/15/2030 21,250.00 21,250.00 01/15/2026 Coupon 87612EBM7 545,000.00 TARGET CORP 1.95 01/15/2027 5,313.75 5,313.75 01/15/2026 Coupon 89231GAD0 630,000.00 TAOT 2025-D A3 3.84 06/17/2030 2,016.00 2,016.00 01/15/2026 Dividend 90LAIF$00 57,172,884.62 Local Agency Investment Fund State Pool 588,723.61 588,723.61 01/16/2026 Coupon 24422EXH7 1,200,000.00 JOHN DEERE CAPITAL CORP 4.5 01/16/2029 27,000.00 27,000.00 01/20/2026 Coupon 06051GGF0 1,000,000.00 BANK OF AMERICA CORP 3.824 01/20/2028 19,120.00 19,120.00 01/23/2026 Coupon 06051GHV4 1,000,000.00 BANK OF AMERICA CORP 3.194 07/23/2030 15,970.00 15,970.00 01/23/2026 Coupon 46647PAV8 1,300,000.00 JPMORGAN CHASE & CO 4.203 07/23/2029 27,319.50 27,319.50 01/26/2026 Coupon 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 348.24 348.24 01/26/2026 Principal Paydown 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 7,145.72 7,145.72 01/26/2026 Coupon 05594HAD5 525,000.00 BMWLT 2025-2 A3 3.97 09/25/2028 1,736.88 1,736.88 01/26/2026 Coupon 06051GMK2 450,000.00 BANK OF AMERICA CORP 4.979 01/24/2029 11,202.75 11,202.75 01/26/2026 Coupon 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,868.77 3,868.77

Page 60 of 329 ends

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 01/26/2026 Principal Paydown 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 2,507.20 2,507.20 01/26/2026 Coupon 3137FG6X8 1,835,000.00 FHMS K-077 A2 3.85 05/25/2028 5,887.29 5,887.29 01/26/2026 Coupon 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 6,300.00 6,300.00 01/26/2026 Coupon 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 5,841.67 5,841.67 01/26/2026 Coupon 3137FMTY8 2,000,000.00 FHMS K-094 A2 2.903 06/25/2029 4,838.33 4,838.33 01/26/2026 Coupon 3137FRUT6 1,000,000.00 FHMS K-106 A2 2.069 01/25/2030 1,724.17 1,724.17 01/26/2026 Coupon 64952WFP3 2,000,000.00 NEW YORK LIFE GLOBAL FUNDING 4.15 07/25/2028 41,500.00 41,500.00
January 2026 Total 679,524.58 332,097.95 1,011,622.53
FEBRUARY 2026
02/02/2026 Coupon 69371RS80 1,200,000.00 PACCAR FINANCIAL CORP 4.6 01/31/2029 27,600.00 27,600.00 02/02/2026 Coupon 78016HZS2 1,000,000.00 ROYAL BANK OF CANADA 5.2 08/01/2028 26,000.00 26,000.00 02/02/2026 Coupon 912828Z78 500,000.00 UNITED STATES TREASURY 1.5 01/31/2027 3,750.00 3,750.00 02/02/2026 Coupon 91282CCP4 1,000,000.00 UNITED STATES TREASURY 0.625 07/31/2026 3,125.00 3,125.00 02/02/2026 Coupon 91282CGH8 2,000,000.00 UNITED STATES TREASURY 3.5 01/31/2028 35,000.00 35,000.00 02/02/2026 Coupon 91282CHQ7 1,000,000.00 UNITED STATES TREASURY 4.125 07/31/2028 20,625.00 20,625.00 02/02/2026 Coupon 91282CJV4 30,000,000.00 UNITED STATES TREASURY 4.25 01/31/2026 637,500.00 637,500.00 02/02/2026 Final Maturity 91282CJV4 30,000,000.00 UNITED STATES TREASURY 4.25 01/31/2026 30,000,000.00 30,000,000.00 02/02/2026 Coupon 91282CJW2 2,000,000.00 UNITED STATES TREASURY 4.0 01/31/2029 40,000.00 40,000.00 02/02/2026 Coupon 91282CLC3 1,750,000.00 UNITED STATES TREASURY 4.0 07/31/2029 35,000.00 35,000.00 02/02/2026 Coupon 91282CMG3 2,200,000.00 UNITED STATES TREASURY 4.25 01/31/2030 46,750.00 46,750.00 02/02/2026 Coupon 91282CNN7 2,250,000.00 UNITED STATES TREASURY 3.875 07/31/2030 43,593.75 43,593.75 02/09/2026 Coupon 06406RAB3 1,000,000.00 BANK OF NEW YORK MELLON CORP 3.442 02/07/2028 17,210.00 17,210.00
02/12/2026 Coupon 14913R3A3 700,000.00 CATERPILLAR FINANCIAL SERVICES CORP 3.6 08/12/2027 12,600.00 12,600.00
02/16/2026 Coupon 161571HT4 1,005,000.00 CHAIT 2023-1 A 5.16 09/15/2028 4,321.50 4,321.50 02/16/2026 Coupon 34532BAG6 490,000.00 FORDO 2025-B A3 3.91 04/15/2030 1,596.58 1,596.58 02/16/2026 Coupon 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 2,228.17 2,228.17 02/16/2026 Coupon 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 2,160.00 2,160.00 02/16/2026 Coupon 47800AAC4 44,985.83 JDOT 2022-B A3 3.74 02/16/2027 90.26 90.26 02/16/2026 Principal Paydown 47800AAC4 44,985.83 JDOT 2022-B A3 3.74 02/16/2027 13,529.14 13,529.14

Page 61 of 329 ends

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 02/16/2026 Coupon 47800DAD6 475,000.00 JDOT 2025 A3 4.23 09/17/2029 1,674.38 1,674.38 02/16/2026 Coupon 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 669.78 669.78 02/16/2026 Principal Paydown 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 26,189.03 26,189.03 02/16/2026 Coupon 89231GAD0 630,000.00 TAOT 2025-D A3 3.84 06/17/2030 2,016.00 2,016.00 02/17/2026 Coupon 02582JJZ4 375,000.00 AMXCA 2023-1 A 4.87 05/15/2026 1,521.88 1,521.88 02/17/2026 Coupon 4581X0EN4 1,250,000.00 INTER-AMERICAN DEVELOPMENT BANK 4.125 02/15/2029 25,781.25 25,781.25
02/17/2026 Coupon 9128283W8 1,250,000.00 UNITED STATES TREASURY 2.75 02/15/2028 17,187.50 17,187.50 02/17/2026 Coupon 912828V98 1,250,000.00 UNITED STATES TREASURY 2.25 02/15/2027 14,062.50 14,062.50 02/25/2026 Coupon 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 315.67 315.67 02/25/2026 Principal Paydown 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 7,057.49 7,057.49 02/25/2026 Coupon 05594HAD5 525,000.00 BMWLT 2025-2 A3 3.97 09/25/2028 1,736.88 1,736.88 02/25/2026 Coupon 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,862.11 3,862.11 02/25/2026 Principal Paydown 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 2,515.40 2,515.40 02/25/2026 Coupon 3137FG6X8 1,835,000.00 FHMS K-077 A2 3.85 05/25/2028 5,887.29 5,887.29 02/25/2026 Coupon 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 6,300.00 6,300.00 02/25/2026 Coupon 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 5,841.67 5,841.67 02/25/2026 Coupon 3137FMTY8 2,000,000.00 FHMS K-094 A2 2.903 06/25/2029 4,838.33 4,838.33 02/25/2026 Coupon 3137FRUT6 1,000,000.00 FHMS K-106 A2 2.069 01/25/2030 1,724.17 1,724.17 02/27/2026 Coupon 14913UAJ9 450,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.85 02/27/2029 10,912.50 10,912.50
February 2026
Total 30,049,291.06 1,063,482.14 31,112,773.21
MARCH 2026
03/02/2026 Coupon 91282CCW9 2,250,000.00 UNITED STATES TREASURY 0.75 08/31/2026 8,437.50 8,437.50 03/02/2026 Coupon 91282CFH9 1,000,000.00 UNITED STATES TREASURY 3.125 08/31/2027 15,625.00 15,625.00 03/02/2026 Coupon 91282CFJ5 1,500,000.00 UNITED STATES TREASURY 3.125 08/31/2029 23,437.50 23,437.50 03/02/2026 Coupon 91282CGP0 2,000,000.00 UNITED STATES TREASURY 4.0 02/29/2028 40,000.00 40,000.00 03/02/2026 Coupon 91282CGQ8 2,000,000.00 UNITED STATES TREASURY 4.0 02/28/2030 40,000.00 40,000.00 03/02/2026 Coupon 91282CHX2 1,500,000.00 UNITED STATES TREASURY 4.375 08/31/2028 32,812.50 32,812.50 03/02/2026 Coupon 91282CKD2 1,000,000.00 UNITED STATES TREASURY 4.25 02/28/2029 21,250.00 21,250.00 03/02/2026 Coupon 91282CNX5 2,250,000.00 UNITED STATES TREASURY 3.625 08/31/2030 40,781.25 40,781.25

Page 62 of 329 ends

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/03/2026 Coupon 808513BY0 1,000,000.00 CHARLES SCHWAB CORP 2.45 03/03/2027 12,250.00 12,250.00 03/09/2026 Coupon 3130AVBD3 1,000,000.00 FEDERAL HOME LOAN BANKS 4.5 03/09/2029 22,500.00 22,500.00 03/09/2026 Coupon 3130AWTR1 1,000,000.00 FEDERAL HOME LOAN BANKS 4.375 09/08/2028 21,875.00 21,875.00
03/09/2026 Coupon 931142EX7 500,000.00 WALMART INC 3.95 09/09/2027 9,875.00 9,875.00 03/16/2026 Coupon 00287YDZ9 2,200,000.00 ABBVIE INC 4.875 03/15/2030 53,625.00 53,625.00 03/16/2026 Coupon 02582JJZ4 375,000.00 AMXCA 2023-1 A 4.87 05/15/2026 1,521.88 1,521.88 03/16/2026 Coupon 084664CZ2 1,095,000.00 BERKSHIRE HATHAWAY FINANCE CORP 2.3 03/15/2027 12,592.50 12,592.50
03/16/2026 Coupon 161571HT4 1,005,000.00 CHAIT 2023-1 A 5.16 09/15/2028 4,321.50 4,321.50 03/16/2026 Coupon 34532BAG6 490,000.00 FORDO 2025-B A3 3.91 04/15/2030 1,596.58 1,596.58 03/16/2026 Coupon 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 2,228.17 2,228.17 03/16/2026 Coupon 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 2,160.00 2,160.00 03/16/2026 Coupon 47800AAC4 44,985.83 JDOT 2022-B A3 3.74 02/16/2027 48.09 48.09 03/16/2026 Principal Paydown 47800AAC4 44,985.83 JDOT 2022-B A3 3.74 02/16/2027 11,396.30 11,396.30 03/16/2026 Coupon 47800DAD6 475,000.00 JDOT 2025 A3 4.23 09/17/2029 1,674.38 1,674.38 03/16/2026 Coupon 571748CA8 1,995,000.00 MARSH & MCLENNAN COMPANIES INC 4.65 03/15/2030 46,383.75 46,383.75
03/16/2026 Coupon 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 556.07 556.07 03/16/2026 Principal Paydown 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 25,529.10 25,529.10 03/16/2026 Coupon 89231GAD0 630,000.00 TAOT 2025-D A3 3.84 06/17/2030 2,016.00 2,016.00 03/17/2026 Coupon 931142ER0 240,000.00 WALMART INC 1.05 09/17/2026 1,260.00 1,260.00 03/20/2026 Coupon 459058LR2 1,000,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 20,625.00 20,625.00
03/25/2026 Coupon 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 283.50 283.50 03/25/2026 Principal Paydown 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 6,868.54 6,868.54 03/25/2026 Coupon 05594HAD5 525,000.00 BMWLT 2025-2 A3 3.97 09/25/2028 1,736.88 1,736.88 03/25/2026 Coupon 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,855.43 3,855.43 03/25/2026 Principal Paydown 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,001.25 3,001.25 03/25/2026 Coupon 3137FG6X8 1,835,000.00 FHMS K-077 A2 3.85 05/25/2028 5,887.29 5,887.29 03/25/2026 Coupon 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 6,300.00 6,300.00 03/25/2026 Coupon 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 5,841.67 5,841.67

Page 63 of 329 ends

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 03/25/2026 Coupon 3137FMTY8 2,000,000.00 FHMS K-094 A2 2.903 06/25/2029 4,838.33 4,838.33 03/25/2026 Coupon 3137FRUT6 1,000,000.00 FHMS K-106 A2 2.069 01/25/2030 1,724.17 1,724.17 03/31/2026 Coupon 91282CEF4 1,250,000.00 UNITED STATES TREASURY 2.5 03/31/2027 15,625.00 15,625.00 03/31/2026 Coupon 91282CFM8 1,000,000.00 UNITED STATES TREASURY 4.125 09/30/2027 20,625.00 20,625.00 03/31/2026 Coupon 91282CGT2 1,750,000.00 UNITED STATES TREASURY 3.625 03/31/2028 31,718.75 31,718.75 03/31/2026 Coupon 91282CJA0 1,850,000.00 UNITED STATES TREASURY 4.625 09/30/2028 42,781.25 42,781.25 03/31/2026 Coupon 91282CKG5 2,000,000.00 UNITED STATES TREASURY 4.125 03/31/2029 41,250.00 41,250.00 03/31/2026 Coupon 91282CLN9 1,250,000.00 UNITED STATES TREASURY 3.5 09/30/2029 21,875.00 21,875.00 03/31/2026 Coupon 91282CMU2 2,250,000.00 UNITED STATES TREASURY 4.0 03/31/2030 45,000.00 45,000.00 03/31/2026 Coupon 91282CPA3 2,100,000.00 UNITED STATES TREASURY 3.625 09/30/2030 38,062.50 38,062.50 March 2026 Total 46,795.20 726,857.42 773,652.62
APRIL 2026
04/01/2026 Coupon 828807DZ7 2,000,000.00 SIMON PROPERTY GROUP LP 4.375 10/01/2030 53,958.33 53,958.33 04/13/2026 Coupon 023135CF1 750,000.00 AMAZON.COM INC 3.3 04/13/2027 12,375.00 12,375.00 04/15/2026 Coupon 02582JJZ4 375,000.00 AMXCA 2023-1 A 4.87 05/15/2026 1,521.88 1,521.88 04/15/2026 Coupon 161571HT4 1,005,000.00 CHAIT 2023-1 A 5.16 09/15/2028 4,321.50 4,321.50 04/15/2026 Coupon 34532BAG6 490,000.00 FORDO 2025-B A3 3.91 04/15/2030 1,596.58 1,596.58 04/15/2026 Coupon 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 2,228.17 2,228.17 04/15/2026 Coupon 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 2,160.00 2,160.00 04/15/2026 Coupon 47800AAC4 44,985.83 JDOT 2022-B A3 3.74 02/16/2027 12.57 12.57 04/15/2026 Effective Maturity 47800AAC4 44,985.83 JDOT 2022-B A3 3.74 02/16/2027 4,033.56 4,033.56 04/15/2026 Coupon 47800DAD6 475,000.00 JDOT 2025 A3 4.23 09/17/2029 1,674.38 1,674.38 04/15/2026 Coupon 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 445.23 445.23 04/15/2026 Principal Paydown 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 26,124.40 26,124.40 04/15/2026 Coupon 74340XBM2 1,200,000.00 PROLOGIS LP 2.25 04/15/2030 13,500.00 13,500.00 04/15/2026 Coupon 74340XBN0 1,000,000.00 PROLOGIS LP 2.125 04/15/2027 10,625.00 10,625.00 04/15/2026 Coupon 89231GAD0 630,000.00 TAOT 2025-D A3 3.84 06/17/2030 2,016.00 2,016.00 04/16/2026 Coupon 459058LN1 1,000,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 19,375.00 19,375.00
04/20/2026 Coupon 61747YFD2 1,200,000.00 MORGAN STANLEY 5.164 04/20/2029 30,984.00 30,984.00 04/27/2026 Coupon 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 252.19 252.19 04/27/2026 Principal Paydown 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 7,035.88 7,035.88

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CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 04/27/2026 Coupon 05594HAD5 525,000.00 BMWLT 2025-2 A3 3.97 09/25/2028 1,736.88 1,736.88 04/27/2026 Coupon 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,847.46 3,847.46 04/27/2026 Principal Paydown 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 2,533.54 2,533.54 04/27/2026 Coupon 3137FG6X8 1,835,000.00 FHMS K-077 A2 3.85 05/25/2028 5,887.29 5,887.29 04/27/2026 Coupon 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 6,300.00 6,300.00 04/27/2026 Coupon 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 5,841.67 5,841.67 04/27/2026 Coupon 3137FMTY8 2,000,000.00 FHMS K-094 A2 2.903 06/25/2029 4,838.33 4,838.33 04/27/2026 Coupon 3137FRUT6 1,000,000.00 FHMS K-106 A2 2.069 01/25/2030 1,724.17 1,724.17 04/28/2026 Coupon 459058LY7 2,000,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.5 10/28/2030 35,000.00 35,000.00
04/30/2026 Coupon 91282CDG3 3,000,000.00 UNITED STATES TREASURY 1.125 10/31/2026 16,875.00 16,875.00 04/30/2026 Coupon 91282CEN7 2,500,000.00 UNITED STATES TREASURY 2.75 04/30/2027 34,375.00 34,375.00 04/30/2026 Coupon 91282CFU0 1,100,000.00 UNITED STATES TREASURY 4.125 10/31/2027 22,687.50 22,687.50 04/30/2026 Coupon 91282CHA2 2,180,000.00 UNITED STATES TREASURY 3.5 04/30/2028 38,150.00 38,150.00 04/30/2026 Coupon 91282CJF9 2,000,000.00 UNITED STATES TREASURY 4.875 10/31/2028 48,750.00 48,750.00 04/30/2026 Coupon 91282CKP5 1,000,000.00 UNITED STATES TREASURY 4.625 04/30/2029 23,125.00 23,125.00 04/30/2026 Coupon 91282CLR0 1,250,000.00 UNITED STATES TREASURY 4.125 10/31/2029 25,781.25 25,781.25 04/30/2026 Coupon 91282CMZ1 2,050,000.00 UNITED STATES TREASURY 3.875 04/30/2030 39,718.75 39,718.75 04/30/2026 Coupon 91282CPD7 2,250,000.00 UNITED STATES TREASURY 3.625 10/31/2030 40,781.25 40,781.25 April 2026 Total 39,727.37 512,465.37 552,192.74
MAY 2026
05/01/2026 Coupon 74456QBU9 1,250,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.7 05/01/2028 23,125.00 23,125.00
05/07/2026 Coupon 69371RU20 1,200,000.00 PACCAR FINANCIAL CORP 4.0 11/07/2028 24,000.00 24,000.00 05/11/2026 Coupon 037833ET3 205,000.00 APPLE INC 4.0 05/10/2028 4,100.00 4,100.00 05/15/2026 Coupon 02582JJZ4 375,000.00 AMXCA 2023-1 A 4.87 05/15/2026 1,521.88 1,521.88 05/15/2026 Final Maturity 02582JJZ4 375,000.00 AMXCA 2023-1 A 4.87 05/15/2026 375,000.00 375,000.00 05/15/2026 Coupon 161571HT4 1,005,000.00 CHAIT 2023-1 A 5.16 09/15/2028 4,321.50 4,321.50 05/15/2026 Coupon 34532BAG6 490,000.00 FORDO 2025-B A3 3.91 04/15/2030 1,596.58 1,596.58 05/15/2026 Coupon 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 2,228.17 2,228.17 05/15/2026 Coupon 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 2,160.00 2,160.00 05/15/2026 Coupon 47800DAD6 475,000.00 JDOT 2025 A3 4.23 09/17/2029 1,674.38 1,674.38

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CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 05/15/2026 Coupon 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 331.81 331.81 05/15/2026 Principal Paydown 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 25,273.60 25,273.60 05/15/2026 Coupon 89231GAD0 630,000.00 TAOT 2025-D A3 3.84 06/17/2030 2,016.00 2,016.00 05/15/2026 Coupon 9128285M8 1,000,000.00 UNITED STATES TREASURY 3.125 11/15/2028 15,625.00 15,625.00 05/15/2026 Coupon 91282CLX7 2,000,000.00 UNITED STATES TREASURY 4.125 11/15/2027 41,250.00 41,250.00 05/15/2026 Coupon 927804GH1 250,000.00 VIRGINIA ELECTRIC AND POWER CO 3.75 05/15/2027 4,687.50 4,687.50
05/18/2026 Coupon 61776NZU0 1,000,000.00 MORGAN STANLEY PRIVATE BANK NA 4.204 11/17/2028 20,786.44 20,786.44
05/18/2026 Coupon 89236TMF9 500,000.00 TOYOTA MOTOR CREDIT CORP 5.05 05/16/2029 12,625.00 12,625.00 05/22/2026 Coupon 95000U2A0 2,000,000.00 WELLS FARGO & CO 3.584 05/22/2028 35,840.00 35,840.00 05/25/2026 Coupon 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 220.12 220.12 05/25/2026 Principal Paydown 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 6,226.64 6,226.64 05/25/2026 Coupon 05594HAD5 525,000.00 BMWLT 2025-2 A3 3.97 09/25/2028 1,736.88 1,736.88 05/25/2026 Coupon 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,840.73 3,840.73 05/25/2026 Principal Paydown 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 2,700.38 2,700.38 05/25/2026 Coupon 3137FG6X8 1,835,000.00 FHMS K-077 A2 3.85 05/25/2028 5,887.29 5,887.29 05/25/2026 Coupon 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 6,300.00 6,300.00 05/25/2026 Coupon 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 5,841.67 5,841.67 05/25/2026 Coupon 3137FMTY8 2,000,000.00 FHMS K-094 A2 2.903 06/25/2029 4,838.33 4,838.33 05/25/2026 Coupon 3137FRUT6 1,000,000.00 FHMS K-106 A2 2.069 01/25/2030 1,724.17 1,724.17 05/26/2026 Coupon 857449AE2 1,250,000.00 STATE STREET BANK AND TRUST CO 4.782 11/23/2029 29,887.50 29,887.50
May 2026 Total 409,200.63 258,165.94 667,366.56
JUNE 2026
06/01/2026 Coupon 91282CJN2 1,500,000.00 UNITED STATES TREASURY 4.375 11/30/2028 32,812.50 32,812.50 06/01/2026 Coupon 91282CKT7 1,250,000.00 UNITED STATES TREASURY 4.5 05/31/2029 28,125.00 28,125.00 06/01/2026 Coupon 91282CMA6 1,700,000.00 UNITED STATES TREASURY 4.125 11/30/2029 35,062.50 35,062.50 06/01/2026 Coupon 91282CNG2 2,050,000.00 UNITED STATES TREASURY 4.0 05/31/2030 41,000.00 41,000.00 06/01/2026 Coupon 91282CPN5 2,500,000.00 UNITED STATES TREASURY 3.5 11/30/2030 43,750.00 43,750.00 06/05/2026 Coupon 24422EYE3 1,200,000.00 JOHN DEERE CAPITAL CORP 4.55 06/05/2030 27,300.00 27,300.00

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CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/09/2026 Coupon 3130AWMN7 1,000,000.00 FEDERAL HOME LOAN BANKS 4.375 06/09/2028 21,875.00 21,875.00
06/10/2026 Coupon 63743HGC0 2,000,000.00 NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP 4.3 12/10/2030 43,000.00 43,000.00
06/11/2026 Coupon 40139LBP7 1,000,000.00 GUARDIAN LIFE GLOBAL FUNDING 4.402 12/11/2030 22,010.00 22,010.00
06/12/2026 Coupon 91159HJM3 1,100,000.00 US BANCORP 5.775 06/12/2029 31,762.50 31,762.50 06/15/2026 Coupon 161571HT4 1,005,000.00 CHAIT 2023-1 A 5.16 09/15/2028 4,321.50 4,321.50 06/15/2026 Coupon 3133EPN50 1,000,000.00 FEDERAL FARM CREDIT BANKS FUNDING CORP

4.25 12/15/2028 21,250.00 21,250.00
06/15/2026 Coupon 34532BAG6 490,000.00 FORDO 2025-B A3 3.91 04/15/2030 1,596.58 1,596.58 06/15/2026 Coupon 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 2,228.17 2,228.17 06/15/2026 Coupon 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 2,160.00 2,160.00 06/15/2026 Coupon 46647PDF0 1,200,000.00 JPMORGAN CHASE & CO 4.565 06/14/2030 27,390.00 27,390.00 06/15/2026 Coupon 47800DAD6 475,000.00 JDOT 2025 A3 4.23 09/17/2029 1,674.38 1,674.38 06/15/2026 Coupon 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 222.08 222.08 06/15/2026 Principal Paydown 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 24,836.84 24,836.84 06/15/2026 Coupon 89231GAD0 630,000.00 TAOT 2025-D A3 3.84 06/17/2030 2,016.00 2,016.00 06/25/2026 Coupon 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 191.74 191.74 06/25/2026 Principal Paydown 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 6,119.71 6,119.71 06/25/2026 Coupon 05594HAD5 525,000.00 BMWLT 2025-2 A3 3.97 09/25/2028 1,736.88 1,736.88 06/25/2026 Coupon 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,833.56 3,833.56 06/25/2026 Principal Paydown 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 2,550.69 2,550.69 06/25/2026 Coupon 3137FG6X8 1,835,000.00 FHMS K-077 A2 3.85 05/25/2028 5,887.29 5,887.29 06/25/2026 Coupon 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 6,300.00 6,300.00 06/25/2026 Coupon 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 5,841.67 5,841.67 06/25/2026 Coupon 3137FMTY8 2,000,000.00 FHMS K-094 A2 2.903 06/25/2029 4,838.33 4,838.33 06/25/2026 Coupon 3137FRUT6 1,000,000.00 FHMS K-106 A2 2.069 01/25/2030 1,724.17 1,724.17 06/25/2026 Coupon 437076DC3 1,075,000.00 HOME DEPOT INC 4.75 06/25/2029 25,531.25 25,531.25 06/30/2026 Coupon 91282CEW7 1,400,000.00 UNITED STATES TREASURY 3.25 06/30/2027 22,750.00 22,750.00 06/30/2026 Coupon 91282CGC9 2,050,000.00 UNITED STATES TREASURY 3.875 12/31/2027 39,718.75 39,718.75 06/30/2026 Coupon 91282CJR3 1,200,000.00 UNITED STATES TREASURY 3.75 12/31/2028 22,500.00 22,500.00

Page 67 of 329 ends

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 06/30/2026 Coupon 91282CKX8 1,850,000.00 UNITED STATES TREASURY 4.25 06/30/2029 39,312.50 39,312.50 06/30/2026 Coupon 91282CMD0 1,250,000.00 UNITED STATES TREASURY 4.375 12/31/2029 27,343.75 27,343.75 06/30/2026 Coupon 91282CNK3 2,500,000.00 UNITED STATES TREASURY 3.875 06/30/2030 48,437.50 48,437.50 June 2026 Total 33,507.24 645,503.58 679,010.83
JULY 2026
07/07/2026 Coupon 02665WEM9 1,200,000.00 AMERICAN HONDA FINANCE CORP 5.125 07/07/2028 30,750.00 30,750.00
07/08/2026 Coupon 89236TFT7 1,500,000.00 TOYOTA MOTOR CREDIT CORP 3.65 01/08/2029 27,375.00 27,375.00 07/10/2026 Coupon 89115A2M3 1,100,000.00 TORONTO-DOMINION BANK 5.156 01/10/2028 28,358.00 28,358.00 07/13/2026 Coupon 45950KDD9 520,000.00 INTERNATIONAL FINANCE CORP 4.5 07/13/2028 11,700.00 11,700.00
07/15/2026 Coupon 161571HT4 1,005,000.00 CHAIT 2023-1 A 5.16 09/15/2028 4,321.50 4,321.50 07/15/2026 Coupon 34532BAG6 490,000.00 FORDO 2025-B A3 3.91 04/15/2030 1,596.58 1,596.58 07/15/2026 Coupon 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 2,228.17 2,228.17 07/15/2026 Coupon 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 2,160.00 2,160.00 07/15/2026 Coupon 47800DAD6 475,000.00 JDOT 2025 A3 4.23 09/17/2029 1,674.38 1,674.38 07/15/2026 Coupon 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 114.25 114.25 07/15/2026 Principal Paydown 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 19,229.76 19,229.76 07/15/2026 Coupon 756109AU8 1,000,000.00 REALTY INCOME CORP 3.65 01/15/2028 18,250.00 18,250.00 07/15/2026 Coupon 756109CC6 1,250,000.00 REALTY INCOME CORP 3.4 01/15/2030 21,250.00 21,250.00 07/15/2026 Coupon 87612EBM7 545,000.00 TARGET CORP 1.95 01/15/2027 5,313.75 5,313.75 07/15/2026 Coupon 89231GAD0 630,000.00 TAOT 2025-D A3 3.84 06/17/2030 2,016.00 2,016.00 07/16/2026 Coupon 24422EXH7 1,200,000.00 JOHN DEERE CAPITAL CORP 4.5 01/16/2029 27,000.00 27,000.00 07/20/2026 Coupon 06051GGF0 1,000,000.00 BANK OF AMERICA CORP 3.824 01/20/2028 19,120.00 19,120.00 07/23/2026 Coupon 06051GHV4 1,000,000.00 BANK OF AMERICA CORP 3.194 07/23/2030 15,970.00 15,970.00 07/23/2026 Coupon 46647PAV8 1,300,000.00 JPMORGAN CHASE & CO 4.203 07/23/2029 27,319.50 27,319.50 07/24/2026 Coupon 06051GMK2 450,000.00 BANK OF AMERICA CORP 4.979 01/24/2029 11,202.75 11,202.75 07/27/2026 Coupon 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 163.84 163.84 07/27/2026 Principal Paydown 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 5,985.63 5,985.63 07/27/2026 Coupon 05594HAD5 525,000.00 BMWLT 2025-2 A3 3.97 09/25/2028 1,736.88 1,736.88 07/27/2026 Coupon 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,826.78 3,826.78 07/27/2026 Principal Paydown 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 2,716.97 2,716.97

Page 68 of 329 ends

CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 07/27/2026 Coupon 3137FG6X8 1,835,000.00 FHMS K-077 A2 3.85 05/25/2028 5,887.29 5,887.29 07/27/2026 Coupon 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 6,300.00 6,300.00 07/27/2026 Coupon 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 5,841.67 5,841.67 07/27/2026 Coupon 3137FMTY8 2,000,000.00 FHMS K-094 A2 2.903 06/25/2029 4,838.33 4,838.33 07/27/2026 Coupon 3137FRUT6 1,000,000.00 FHMS K-106 A2 2.069 01/25/2030 1,724.17 1,724.17 07/27/2026 Coupon 64952WFP3 2,000,000.00 NEW YORK LIFE GLOBAL FUNDING 4.15 07/25/2028 41,500.00 41,500.00
07/31/2026 Coupon 69371RS80 1,200,000.00 PACCAR FINANCIAL CORP 4.6 01/31/2029 27,600.00 27,600.00 07/31/2026 Coupon 912828Z78 500,000.00 UNITED STATES TREASURY 1.5 01/31/2027 3,750.00 3,750.00 07/31/2026 Coupon 91282CCP4 1,000,000.00 UNITED STATES TREASURY 0.625 07/31/2026 3,125.00 3,125.00 07/31/2026 Final Maturity 91282CCP4 1,000,000.00 UNITED STATES TREASURY 0.625 07/31/2026 1,000,000.00 1,000,000.00 07/31/2026 Coupon 91282CGH8 2,000,000.00 UNITED STATES TREASURY 3.5 01/31/2028 35,000.00 35,000.00 07/31/2026 Coupon 91282CHQ7 1,000,000.00 UNITED STATES TREASURY 4.125 07/31/2028 20,625.00 20,625.00 07/31/2026 Coupon 91282CJW2 2,000,000.00 UNITED STATES TREASURY 4.0 01/31/2029 40,000.00 40,000.00 07/31/2026 Coupon 91282CLC3 1,750,000.00 UNITED STATES TREASURY 4.0 07/31/2029 35,000.00 35,000.00 07/31/2026 Coupon 91282CMG3 2,200,000.00 UNITED STATES TREASURY 4.25 01/31/2030 46,750.00 46,750.00 07/31/2026 Coupon 91282CNN7 2,250,000.00 UNITED STATES TREASURY 3.875 07/31/2030 43,593.75 43,593.75 July 2026 Total 1,027,932.35 584,982.58 1,612,914.93
AUGUST 2026
08/04/2026 Coupon 78016HZS2 1,000,000.00 ROYAL BANK OF CANADA 5.2 08/01/2028 26,000.00 26,000.00 08/07/2026 Coupon 06406RAB3 1,000,000.00 BANK OF NEW YORK MELLON CORP 3.442 02/07/2028 17,210.00 17,210.00
08/12/2026 Coupon 14913R3A3 700,000.00 CATERPILLAR FINANCIAL SERVICES CORP 3.6 08/12/2027 12,600.00 12,600.00
08/17/2026 Coupon 161571HT4 1,005,000.00 CHAIT 2023-1 A 5.16 09/15/2028 4,321.50 4,321.50 08/17/2026 Coupon 34532BAG6 490,000.00 FORDO 2025-B A3 3.91 04/15/2030 1,596.58 1,596.58 08/17/2026 Coupon 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 2,228.17 2,228.17 08/17/2026 Coupon 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 2,160.00 2,160.00 08/17/2026 Coupon 4581X0EN4 1,250,000.00 INTER-AMERICAN DEVELOPMENT BANK 4.125 02/15/2029 25,781.25 25,781.25
08/17/2026 Coupon 47800DAD6 475,000.00 JDOT 2025 A3 4.23 09/17/2029 1,674.38 1,674.38 08/17/2026 Coupon 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 30.76 30.76

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CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 08/17/2026 Effective Maturity 58768PAC8 163,617.48 MBART 2022-1 A3 5.21 08/16/2027 7,084.15 7,084.15 08/17/2026 Coupon 89231GAD0 630,000.00 TAOT 2025-D A3 3.84 06/17/2030 2,016.00 2,016.00 08/17/2026 Coupon 9128283W8 1,250,000.00 UNITED STATES TREASURY 2.75 02/15/2028 17,187.50 17,187.50 08/17/2026 Coupon 912828V98 1,250,000.00 UNITED STATES TREASURY 2.25 02/15/2027 14,062.50 14,062.50 08/25/2026 Coupon 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 136.56 136.56 08/25/2026 Principal Paydown 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 5,825.61 5,825.61 08/25/2026 Coupon 05594HAD5 525,000.00 BMWLT 2025-2 A3 3.97 09/25/2028 1,736.88 1,736.88 08/25/2026 Coupon 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,819.57 3,819.57 08/25/2026 Principal Paydown 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 2,567.96 2,567.96 08/25/2026 Coupon 3137FG6X8 1,835,000.00 FHMS K-077 A2 3.85 05/25/2028 5,887.29 5,887.29 08/25/2026 Coupon 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 6,300.00 6,300.00 08/25/2026 Coupon 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 5,841.67 5,841.67 08/25/2026 Coupon 3137FMTY8 2,000,000.00 FHMS K-094 A2 2.903 06/25/2029 4,838.33 4,838.33 08/25/2026 Coupon 3137FRUT6 1,000,000.00 FHMS K-106 A2 2.069 01/25/2030 1,724.17 1,724.17 08/27/2026 Coupon 14913UAJ9 450,000.00 CATERPILLAR FINANCIAL SERVICES CORP 4.85 02/27/2029 10,912.50 10,912.50
08/31/2026 Coupon 91282CCW9 2,250,000.00 UNITED STATES TREASURY 0.75 08/31/2026 8,437.50 8,437.50 08/31/2026 Final Maturity 91282CCW9 2,250,000.00 UNITED STATES TREASURY 0.75 08/31/2026 2,250,000.00 2,250,000.00 08/31/2026 Coupon 91282CFH9 1,000,000.00 UNITED STATES TREASURY 3.125 08/31/2027 15,625.00 15,625.00 08/31/2026 Coupon 91282CFJ5 1,500,000.00 UNITED STATES TREASURY 3.125 08/31/2029 23,437.50 23,437.50 08/31/2026 Coupon 91282CGP0 2,000,000.00 UNITED STATES TREASURY 4.0 02/29/2028 40,000.00 40,000.00 08/31/2026 Coupon 91282CGQ8 2,000,000.00 UNITED STATES TREASURY 4.0 02/28/2030 40,000.00 40,000.00 08/31/2026 Coupon 91282CHX2 1,500,000.00 UNITED STATES TREASURY 4.375 08/31/2028 32,812.50 32,812.50 08/31/2026 Coupon 91282CKD2 1,000,000.00 UNITED STATES TREASURY 4.25 02/28/2029 21,250.00 21,250.00 08/31/2026 Coupon 91282CNX5 2,250,000.00 UNITED STATES TREASURY 3.625 08/31/2030 40,781.25 40,781.25 August 2026 Total 2,265,477.72 390,409.34 2,655,887.06
SEPTEMBER 2026
09/03/2026 Coupon 808513BY0 1,000,000.00 CHARLES SCHWAB CORP 2.45 03/03/2027 12,250.00 12,250.00 09/08/2026 Coupon 3130AWTR1 1,000,000.00 FEDERAL HOME LOAN BANKS 4.375 09/08/2028 21,875.00 21,875.00
09/09/2026 Coupon 3130AVBD3 1,000,000.00 FEDERAL HOME LOAN BANKS 4.5 03/09/2029 22,500.00 22,500.00 09/09/2026 Coupon 931142EX7 500,000.00 WALMART INC 3.95 09/09/2027 9,875.00 9,875.00

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CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/15/2026 Coupon 00287YDZ9 2,200,000.00 ABBVIE INC 4.875 03/15/2030 53,625.00 53,625.00 09/15/2026 Coupon 084664CZ2 1,095,000.00 BERKSHIRE HATHAWAY FINANCE CORP 2.3 03/15/2027 12,592.50 12,592.50
09/15/2026 Coupon 161571HT4 1,005,000.00 CHAIT 2023-1 A 5.16 09/15/2028 4,321.50 4,321.50 09/15/2026 Effective Maturity 161571HT4 1,005,000.00 CHAIT 2023-1 A 5.16 09/15/2028 1,005,000.00 1,005,000.00 09/15/2026 Coupon 34532BAG6 490,000.00 FORDO 2025-B A3 3.91 04/15/2030 1,596.58 1,596.58 09/15/2026 Coupon 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 2,228.17 2,228.17 09/15/2026 Principal Paydown 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 35,052.65 35,052.65 09/15/2026 Coupon 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 2,160.00 2,160.00 09/15/2026 Coupon 47800DAD6 475,000.00 JDOT 2025 A3 4.23 09/17/2029 1,674.38 1,674.38 09/15/2026 Coupon 571748CA8 1,995,000.00 MARSH & MCLENNAN COMPANIES INC 4.65 03/15/2030 46,383.75 46,383.75
09/15/2026 Coupon 89231GAD0 630,000.00 TAOT 2025-D A3 3.84 06/17/2030 2,016.00 2,016.00 09/17/2026 Coupon 931142ER0 240,000.00 WALMART INC 1.05 09/17/2026 1,260.00 1,260.00 09/17/2026 Final Maturity 931142ER0 240,000.00 WALMART INC 1.05 09/17/2026 240,000.00 240,000.00 09/21/2026 Coupon 459058LR2 1,000,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 4.125 03/20/2030 20,625.00 20,625.00
09/25/2026 Coupon 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 110.00 110.00 09/25/2026 Principal Paydown 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 5,661.44 5,661.44 09/25/2026 Coupon 05594HAD5 525,000.00 BMWLT 2025-2 A3 3.97 09/25/2028 1,736.88 1,736.88 09/25/2026 Coupon 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,812.75 3,812.75 09/25/2026 Principal Paydown 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 2,576.36 2,576.36 09/25/2026 Coupon 3137FG6X8 1,835,000.00 FHMS K-077 A2 3.85 05/25/2028 5,887.29 5,887.29 09/25/2026 Coupon 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 6,300.00 6,300.00 09/25/2026 Coupon 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 5,841.67 5,841.67 09/25/2026 Coupon 3137FMTY8 2,000,000.00 FHMS K-094 A2 2.903 06/25/2029 4,838.33 4,838.33 09/25/2026 Coupon 3137FRUT6 1,000,000.00 FHMS K-106 A2 2.069 01/25/2030 1,724.17 1,724.17 09/30/2026 Coupon 91282CEF4 1,250,000.00 UNITED STATES TREASURY 2.5 03/31/2027 15,625.00 15,625.00 09/30/2026 Coupon 91282CFM8 1,000,000.00 UNITED STATES TREASURY 4.125 09/30/2027 20,625.00 20,625.00 09/30/2026 Coupon 91282CGT2 1,750,000.00 UNITED STATES TREASURY 3.625 03/31/2028 31,718.75 31,718.75 09/30/2026 Coupon 91282CJA0 1,850,000.00 UNITED STATES TREASURY 4.625 09/30/2028 42,781.25 42,781.25 09/30/2026 Coupon 91282CKG5 2,000,000.00 UNITED STATES TREASURY 4.125 03/31/2029 41,250.00 41,250.00

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CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 09/30/2026 Coupon 91282CLN9 1,250,000.00 UNITED STATES TREASURY 3.5 09/30/2029 21,875.00 21,875.00 09/30/2026 Coupon 91282CMU2 2,250,000.00 UNITED STATES TREASURY 4.0 03/31/2030 45,000.00 45,000.00 09/30/2026 Coupon 91282CPA3 2,100,000.00 UNITED STATES TREASURY 3.625 09/30/2030 38,062.50 38,062.50 September 2026
Total 1,288,290.45 502,171.46 1,790,461.90
OCTOBER 2026
10/01/2026 Coupon 828807DZ7 2,000,000.00 SIMON PROPERTY GROUP LP 4.375 10/01/2030 43,750.00 43,750.00 10/13/2026 Coupon 023135CF1 750,000.00 AMAZON.COM INC 3.3 04/13/2027 12,375.00 12,375.00 10/15/2026 Coupon 34532BAG6 490,000.00 FORDO 2025-B A3 3.91 04/15/2030 1,596.58 1,596.58 10/15/2026 Coupon 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 2,093.51 2,093.51 10/15/2026 Principal Paydown 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 21,565.09 21,565.09 10/15/2026 Coupon 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 2,160.00 2,160.00 10/15/2026 Coupon 47800DAD6 475,000.00 JDOT 2025 A3 4.23 09/17/2029 1,674.38 1,674.38 10/15/2026 Coupon 74340XBM2 1,200,000.00 PROLOGIS LP 2.25 04/15/2030 13,500.00 13,500.00 10/15/2026 Coupon 74340XBN0 1,000,000.00 PROLOGIS LP 2.125 04/15/2027 10,625.00 10,625.00 10/15/2026 Coupon 89231GAD0 630,000.00 TAOT 2025-D A3 3.84 06/17/2030 2,016.00 2,016.00 10/16/2026 Coupon 459058LN1 1,000,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.875 10/16/2029 19,375.00 19,375.00
10/20/2026 Coupon 61747YFD2 1,200,000.00 MORGAN STANLEY 5.164 04/20/2029 30,984.00 30,984.00 10/26/2026 Coupon 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 84.20 84.20 10/26/2026 Principal Paydown 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 4,683.92 4,683.92 10/26/2026 Coupon 05594HAD5 525,000.00 BMWLT 2025-2 A3 3.97 09/25/2028 1,736.88 1,736.88 10/26/2026 Coupon 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,805.90 3,805.90 10/26/2026 Principal Paydown 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 2,741.78 2,741.78 10/26/2026 Coupon 3137FG6X8 1,835,000.00 FHMS K-077 A2 3.85 05/25/2028 5,887.29 5,887.29 10/26/2026 Coupon 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 6,300.00 6,300.00 10/26/2026 Coupon 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 5,841.67 5,841.67 10/26/2026 Coupon 3137FMTY8 2,000,000.00 FHMS K-094 A2 2.903 06/25/2029 4,838.33 4,838.33 10/26/2026 Coupon 3137FRUT6 1,000,000.00 FHMS K-106 A2 2.069 01/25/2030 1,724.17 1,724.17 10/28/2026 Coupon 459058LY7 2,000,000.00 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM 3.5 10/28/2030 35,000.00 35,000.00
October 2026 Total 28,990.79 205,367.90 234,358.69

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CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount NOVEMBER 2026
11/02/2026 Coupon 74456QBU9 1,250,000.00 PUBLIC SERVICE ELECTRIC AND GAS CO 3.7 05/01/2028 23,125.00 23,125.00
11/02/2026 Coupon 91282CDG3 3,000,000.00 UNITED STATES TREASURY 1.125 10/31/2026 16,875.00 16,875.00 11/02/2026 Final Maturity 91282CDG3 3,000,000.00 UNITED STATES TREASURY 1.125 10/31/2026 3,000,000.00 3,000,000.00 11/02/2026 Coupon 91282CEN7 2,500,000.00 UNITED STATES TREASURY 2.75 04/30/2027 34,375.00 34,375.00 11/02/2026 Coupon 91282CFU0 1,100,000.00 UNITED STATES TREASURY 4.125 10/31/2027 22,687.50 22,687.50 11/02/2026 Coupon 91282CHA2 2,180,000.00 UNITED STATES TREASURY 3.5 04/30/2028 38,150.00 38,150.00 11/02/2026 Coupon 91282CJF9 2,000,000.00 UNITED STATES TREASURY 4.875 10/31/2028 48,750.00 48,750.00 11/02/2026 Coupon 91282CKP5 1,000,000.00 UNITED STATES TREASURY 4.625 04/30/2029 23,125.00 23,125.00 11/02/2026 Coupon 91282CLR0 1,250,000.00 UNITED STATES TREASURY 4.125 10/31/2029 25,781.25 25,781.25 11/02/2026 Coupon 91282CMZ1 2,050,000.00 UNITED STATES TREASURY 3.875 04/30/2030 39,718.75 39,718.75 11/02/2026 Coupon 91282CPD7 2,250,000.00 UNITED STATES TREASURY 3.625 10/31/2030 40,781.25 40,781.25 11/09/2026 Coupon 69371RU20 1,200,000.00 PACCAR FINANCIAL CORP 4.0 11/07/2028 24,000.00 24,000.00 11/10/2026 Coupon 037833ET3 205,000.00 APPLE INC 4.0 05/10/2028 4,100.00 4,100.00 11/16/2026 Coupon 34532BAG6 490,000.00 FORDO 2025-B A3 3.91 04/15/2030 1,596.58 1,596.58 11/16/2026 Coupon 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 2,010.66 2,010.66 11/16/2026 Principal Paydown 34535VAD6 580,000.00 FORDO 2024-D A3 4.61 08/15/2029 32,210.83 32,210.83 11/16/2026 Coupon 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 2,160.00 2,160.00 11/16/2026 Principal Paydown 44935CAD3 600,000.00 HART 2025-A A3 4.32 10/15/2029 6,702.20 6,702.20 11/16/2026 Coupon 47800DAD6 475,000.00 JDOT 2025 A3 4.23 09/17/2029 1,674.38 1,674.38 11/16/2026 Coupon 89231GAD0 630,000.00 TAOT 2025-D A3 3.84 06/17/2030 2,016.00 2,016.00 11/16/2026 Coupon 89236TMF9 500,000.00 TOYOTA MOTOR CREDIT CORP 5.05 05/16/2029 12,625.00 12,625.00 11/16/2026 Coupon 9128285M8 1,000,000.00 UNITED STATES TREASURY 3.125 11/15/2028 15,625.00 15,625.00 11/16/2026 Coupon 91282CLX7 2,000,000.00 UNITED STATES TREASURY 4.125 11/15/2027 41,250.00 41,250.00 11/16/2026 Coupon 927804GH1 250,000.00 VIRGINIA ELECTRIC AND POWER CO 3.75 05/15/2027 4,687.50 4,687.50
11/17/2026 Coupon 61776NZU0 1,000,000.00 MORGAN STANLEY PRIVATE BANK NA 4.204 11/17/2028 21,020.00 21,020.00
11/23/2026 Coupon 857449AE2 1,250,000.00 STATE STREET BANK AND TRUST CO 4.782 11/23/2029 29,887.50 29,887.50
11/23/2026 Coupon 95000U2A0 2,000,000.00 WELLS FARGO & CO 3.584 05/22/2028 35,840.00 35,840.00

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CASH FLOW REPORT
Payment Date Transaction Type CUSIP Quantity Security Description Principal Amount Income Total Amount 11/25/2026 Coupon 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 62.85 62.85 11/25/2026 Principal Paydown 05592XAD2 76,397.41 BMWOT 2023-A A3 5.47 02/25/2028 4,472.74 4,472.74 11/25/2026 Coupon 05594HAD5 525,000.00 BMWLT 2025-2 A3 3.97 09/25/2028 1,736.88 1,736.88 11/25/2026 Coupon 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 3,798.62 3,798.62 11/25/2026 Principal Paydown 3137FBU79 1,456,705.40 FHMS K-069 A2 3.187 09/25/2027 2,593.78 2,593.78 11/25/2026 Coupon 3137FG6X8 1,835,000.00 FHMS K-077 A2 3.85 05/25/2028 5,887.29 5,887.29 11/25/2026 Coupon 3137FJZ93 2,000,000.00 FHMS K-084 A2 3.78 10/25/2028 6,300.00 6,300.00 11/25/2026 Coupon 3137FLN91 2,000,000.00 FHMS K-091 A2 3.505 03/25/2029 5,841.67 5,841.67 11/25/2026 Coupon 3137FMTY8 2,000,000.00 FHMS K-094 A2 2.903 06/25/2029 4,838.33 4,838.33 11/25/2026 Coupon 3137FRUT6 1,000,000.00 FHMS K-106 A2 2.069 01/25/2030 1,724.17 1,724.17 11/30/2026 Coupon 91282CJN2 1,500,000.00 UNITED STATES TREASURY 4.375 11/30/2028 32,812.50 32,812.50 11/30/2026 Coupon 91282CKT7 1,250,000.00 UNITED STATES TREASURY 4.5 05/31/2029 28,125.00 28,125.00 11/30/2026 Coupon 91282CMA6 1,700,000.00 UNITED STATES TREASURY 4.125 11/30/2029 35,062.50 35,062.50 11/30/2026 Coupon 91282CNG2 2,050,000.00 UNITED STATES TREASURY 4.0 05/31/2030 41,000.00 41,000.00 11/30/2026 Coupon 91282CPN5 2,500,000.00 UNITED STATES TREASURY 3.5 11/30/2030 43,750.00 43,750.00 November 2026
Total 3,045,979.56 722,801.17 3,768,780.73
Grand Total 564,278,912.57 38,914,716.95 5,944,304.85 44,859,021.81

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IMPORTANT DISCLOSURES
Chandler Asset Management, Inc. (“Chandler”) is an SEC registered investment adviser. For additional information about our firm, please see our current disclosures (Form ADV).

To obtain a copy of our current disclosures, you may contact your client service representative by calling the number on the front of this statement or you may visit our website at www.chandlerasset.com.

Information contained in this monthly statement is confidential and is provided for informational purposes only and should not be construed as specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of this statement, but may become outdated or superseded at any time without notice.

Custody: Your qualified custodian bank maintains control of all assets reflected in this statement and we urge you to compare this statement to the one you receive from your qualified custodian. Chandler does not have any authority to withdraw or deposit funds from/to the custodian account.

Valuation: Prices are provided by IDC, an independent pricing source. In the event IDC does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance: Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE INDICES AND RELATED DATA ON AN “AS IS” BASIS; ICE, ITS AFFILIATES AND

THEIR RESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM.

NEITHER ICE DATA, ITS AFFILIATES OR THEIR RESPECTIVE THIRD PARTY PROVIDERS GUARANTEE THE QUALITY , ADEQUACY , ACCURACY , TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN “AS IS” BASIS AND LICENSEE’S USE IS AT LICENSEE’S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, ENDORSE, OR RECOMMEND CHANDLER, OR ANY OF ITS PRODUCTS OR SERVICES.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Ratings: Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest.

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

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

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TABLE OF CONTENTS

ECONOMIC UPDATE

ACCOUNT PROFILE
1

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ECONOMIC UPDATE
2

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

The Federal Reserve's December Federal Open Market Committee meeting concluded with the third consecutive 25-basis-point rate cut in 2025, lowering the target range to 3.50%–3.75%. However, policymakers remain divided on the path forward. Four Fed governors project one additional 25-basis-point cut in 2026, another four anticipateno further easing, eight expect multiple cuts, and three call for a potential rate hike. Chair Jerome Powell noted that the Fed is now “well placed to wait and see” how labor market conditions and inflation evolve in the near term.

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

ECONOMIC UPDATE
3

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

0.0%

4.0%

8.0%

12.0%

16.0%

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

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

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

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

Source: US Department of Labor

JOB OPENINGS & LABOR TURNOVER SURVEY
5

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0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

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

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

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

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

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

INFLATION
6

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0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

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

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

CONSUMER
7

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-25.0%
-20.0%
-15.0%
-10.0%
-5.0%

0.0%

5.0%

10.0%

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

0.00 0.25

0.50 0.75

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

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

LEADING INDICATORS OF ECONOMIC ACTIVITY
8

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

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

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

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

HOUSING
9

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

EXPANDING

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

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

Source: Institute for Supply Management

SURVEY BASED MEASURES
10

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

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

0.3% -0.4% -0.4% 0.2%

0.3% 0.2% 0.3% 0.2%

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

0.0%

10.0%

20.0%

30.0%

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

GROSS DOMESTIC PRODUCT (GDP)
11

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

FEDERAL RESERVE

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
Recession
Yield (%)
12

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Source: Bloomberg Source: Bloomberg

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

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

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

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

BOND YIELDS
13

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ACCOUNT PROFILE
14

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OBJECTIVES
Investment Objectives
The investment objectives for the City of Vallejo, in order of priority, are to provide safety to ensure the preservation of capital in the overall portfolio, provide sufficient liquidity for cash needs, and a market rate of return consistent with the investment program.

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

Strategy
In order to achieve this objective, the portfolio invests in high-quality fixed income securities that comply with the investment policy and all regulations governing the funds. 15

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STATEMENT OF COMPLIANCE
City of Vallejo | Account #260 | As of December 31, 2025 Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES
Max % (MV) 50.0 5.4 Compliant
Max % Issuer (MV) 30.0 5.4 Compliant
Max Maturity (Years) 5.0 4.1 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV) 20.0 2.7 Compliant
Max % Issuer (MV) 5.0 0.5 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

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

COLLATERALIZED TIME DEPOSITS (NON-

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

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

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 24.8 Compliant
Max % Issuer (MV) 5.0 1.3 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant
16

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STATEMENT OF COMPLIANCE
City of Vallejo | Account #260 | As of December 31, 2025 Rules Name Limit Actual Compliance
Status Notes

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

FEDERAL AGENCIES
Max % (MV) 50.0 2.2 Compliant
Max % Issuer (MV) 30.0 1.6 Compliant
Max Callables (MV) 20.0 0.0 Compliant
Max Maturity (Years) 5 3 Compliant

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

LOCAL GOVERNMENT INVESTMENT POOL (LGIP)
Max % (MV) 100.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV) 20.0 1.9 Compliant
Max % Issuer (MV) 5.0 1.9 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

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

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)
Max % (MV) 10.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (CA, OTHER STATES)
Max % (MV) 10.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
17

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STATEMENT OF COMPLIANCE
City of Vallejo | Account #260 | As of December 31, 2025 Rules Name Limit Actual Compliance
Status Notes
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUTUAL FUNDS
Max % (MV) 10.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

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

REPURCHASE AGREEMENTS
Max % (MV) 20.0 0.0 Compliant
Max Maturity (Years) 1.0 0.0 Compliant

SRI PROHIBITED INVESTMENTS
Prohibited Investment - Fossil Fuels 0.0 0.0 Compliant
Prohibited Investments - Alcohol 0.0 0.0 Compliant
Prohibited Investments - Firearms 0.0 0.0 Compliant
Prohibited Investments - Tobacco 0.0 0.0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 3.1 Compliant
Max % Issuer (MV) 10.0 2.1 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 59.9 Compliant
Max Maturity (Years) 5 4 Compliant
18

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PORTFOLIO CHARACTERISTICS
City of Vallejo Cons Portfolio | Account #262 | As of December 31, 2025 12/31/2025
Portfolio
9/30/2025
Portfolio
Average Maturity (yrs) 1.65 1.16
Average Modified Duration 1.45 1.03
Average Purchase Yield 3.94% 4.10%
Average Market Yield 3.78% 3.99%
Average Quality** AA AA+
Total Market Value 291,970,328 270,730,696
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 19

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SECTOR DISTRIBUTION
City of Vallejo Cons Portfolio | Account #262 | As of December 31, 2025 Sector as a Percentage of Market Value
Sector 12/31/2025 09/30/2025
US Treasury 38.76% 52.48%
LAIF 19.75% 21.05%
Money Mkt Fd 16.79% 9.95%
Corporate 16.07% 9.76%
Agency CMBS 3.49% 1.03%
Supras 2.00% 1.42%
ABS 1.73% 1.51%
Agency 1.41% 2.81%
20

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DURATION DISTRIBUTION
City of Vallejo Cons Portfolio | Account #262 | As of December 31, 2025 Date 0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
12/31/2025 47.0% 0.2% 2.5% 11.4% 17.4% 13.6% 7.9% 0.0% 0.0% 09/30/2025 52.3% 11.3% 2.2% 8.3% 10.9% 11.0% 4.0% 0.0% 0.0% 21

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QUALITY DISTRIBUTION
Rating 12/31/2025 09/30/2025
AAA 5.80% 2.69%
AA 44.99% 48.27%
A 12.21% 8.18%
BBB 0.77% 0.09%
A-1+ -- 9.54%
NA 36.23% 31.22%
Rating 12/31/2025 09/30/2025
Aaa 4.83% 2.60%
Aa 45.84% 48.28%
A 13.24% 8.19%
P-1 -- 9.54%
NA 36.10% 31.39%
Rating 12/31/2025 09/30/2025
AAA 5.43% 2.79%
AA 46.22% 48.98%
A 6.63% 4.36%
F1+ -- 9.54%
NA 41.71% 34.33%
City of Vallejo Cons Portfolio | Account #262 | As of December 31, 2025 S&P Rating Moody’s Rating Fitch Rating
22

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HISTORICAL AVERAGE PURCHASE YIELD
City of Vallejo Cons Portfolio | Account #262 | As of December 31, 2025 Purchase Yield as of 12/31/25 = 3.94%
23

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IMPORTANT DISCLOSURES
2025 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE permits use of the ICE indices and related data on an “as is” basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providers guarantee the quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and licensee’s use it at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler asset management, or any of its products or services.

This report is provided for informational purposes only and should not be construed as a specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment.

Fixed income investments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates.

Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

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BENCHMARK DISCLOSURES
Benchmark Disclosure
ICE BofA 1-5 Yr US Treasury & Agency Index The ICE BofA 1-5 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies.

ICE BofA 1-Yr US Treasury Bill Index The ICE BofA US 1-Year Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. At the end of the month that issue is sold and rolled into a newly selected issue. The issue selected at each month- end rebalancing is the outstanding Treasury Bill that matures closest to, but not beyond, twelve months from the rebalancing date.
25

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CONSENT CALENDAR 8.D.

DATE: February 10, 2026
TO: Mayor and Members of the City Council
FROM: Sidney Wilson, Administrative Analyst II
SUBJECT: ADOPT A RESOLUTION ACCEPTING THE FISCAL YEAR 2024 STAFFING FOR

ADEQUATE FIRE AND EMERGENCY RESPONSE (SAFER) GRANT AWARD FROM THE

FEDERAL EMERGENCY MANAGEMENT AGENCY (FEMA) AND AUTHORIZING THE

CITY MANAGER TO EXECUTE ALL REQUIRED AGREEMENTS AND DOCUMENTS

RECOMMENDATION
Staff recommends that the City Council adopt a resolution accepting the Fiscal Year 2024 Staffing for Adequate Fire and Emergency Response (SAFER) Grant award from the Federal Emergency Management Agency (FEMA) and authorize the City Manager, or designee, to execute all required agreements and documents related to the grant.

REASONS FOR RECOMMENDATION
The City of Vallejo has been awarded the Fiscal Year 2024 Staffing for Adequate Fire and Emergency Response (SAFER) Grant from the Federal Emergency Management Agency (FEMA). Acceptance of this grant will support the City’s efforts to address ongoing fire department staffing challenges, including vacancies, mandatory overtime, and anticipated retirements, which impact the Department’s ability to meet National Fire Protection Association (NFPA) staffing and deployment standards. Accepting the SAFER Grant will strengthen emergency response capacity and support the continued delivery of safe and reliable fire and emergency services to the Vallejo community.

BACKGROUND AND DISCUSSION
The City of Vallejo has been awarded the Fiscal Year 2024 Staffing for Adequate Fire and Emergency Response (SAFER) Grant from the Federal Emergency Management Agency (FEMA). This item requests City Council authorization for the City Manager, or designee, to accept the SAFER Grant award and execute all required agreements and documents in accordance with federal requirements.

The SAFER Grant Program supports local jurisdictions in maintaining adequate firefighter staffing to enhance emergency response capabilities. Acceptance of this grant will support the Vallejo Fire Department’s efforts to address ongoing operational staffing challenges and strengthen the City’s emergency response capacity in a manner consistent with nationally recognized fire service standards.

If the SAFER Grant is accepted, the total number of funded positions for the duration of the grant (March 23, 2026, to March 22, 2029) will be 93, comprising 85 sworn firefighter positions and 8 non-sworn support positions. This count includes base positions plus six new SAFER-funded firefighter positions, allowing for two additional personnel per shift. The new SAFER grant replaces expiring funding to maintain current staffing levels; it does not reinstate any previously expired positions. This staffing increase is expected to reduce the

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Date: February 10, 2026
Subject: ADOPT A RESOLUTION ACCEPTING THE FISCAL YEAR 2024 STAFFING FOR

ADEQUATE FIRE AND EMERGENCY RESPONSE (SAFER) GRANT AWARD FROM

THE FEDERAL EMERGENCY MANAGEMENT AGENCY (FEMA) AND

AUTHORIZING THE CITY MANAGER TO EXECUTE ALL REQUIRED

AGREEMENTS AND DOCUMENTS

Page 2 ends

overtime costs required to cover staffing gaps, although precise savings cannot be projected due to anticipated retirements later this year.

Total salaries and benefits for the SAFER-funded positions are budgeted at $1,716,209.27 in Year 1, $1,870,668.11 in Year 2, and $1,945,494.83 in Year 3, for a three-year total of $5,532,372.21. The federal SAFER Grant will contribute $1,180,498.50 in Years 1 and 2 and $550,899.29 in Year 3, totaling $2,911,896.29. The City’s required local match is $535,710.77 in Year 1, $690,169.61 in Year 2, and $1,394,595.54 in Year 3, for a three-year total of $2,620,475.92. The local match will be included in the FY 2026–2027 annual budget process for Council approval; no additional funding beyond the planned budget will be required.

Based on 2024–2025 overtime tracking, adding six SAFER-funded positions provides four additional personnel per day. During the 2024–2025 fiscal year, the Department worked 2,203 overtime shifts; adding these positions has the potential to reduce that figure by 1,452 shifts. Consequently, acceptance of the grant will reduce the City’s net personnel costs over the grant period while maintaining staffing levels and enhancing emergency response capacity.

Month Vacation Sick 4850 OTBL Admin Monthly Totals
July 2024 92 54 81 32 9 268
August 2024 53 68 68 26 1 216
September 2024 54 63 57 43 2 219
October 2024 58 56 54 43 4 215
November 2024 59 57 40 34 1 191
December 2024 60 54 34 32 3 183
January 2025 43 47 25 39 3 157
February 2025 42 44 24 23 3 136
March 2025 29 39 29 39 2 138
April 2025 40 45 20 41 0 146
May 2025 52 56 26 33 1 168
June 2025 49 60 30 27 0 166
FY 24/25 Totals 631 643 488 412 29 2203

Mandatory Holds Hours FY Shifts Avg. Daily
Hold
FY 24/25 Totals

Leave Buffers Amount of Shifts
Covered
2 per shift 726

Page 103 of 329 ends

Date: February 10, 2026
Subject: ADOPT A RESOLUTION ACCEPTING THE FISCAL YEAR 2024 STAFFING FOR

ADEQUATE FIRE AND EMERGENCY RESPONSE (SAFER) GRANT AWARD FROM

THE FEDERAL EMERGENCY MANAGEMENT AGENCY (FEMA) AND

AUTHORIZING THE CITY MANAGER TO EXECUTE ALL REQUIRED

AGREEMENTS AND DOCUMENTS

Page 3 ends

3 per shift 1089
4 per shift 1452

FISCAL IMPACT
There is no fiscal impact to the City in Fiscal Year 2025/26. The SAFER Grant period of performance begins March 23, 2026, and ends March 22, 2029. The Fire Department plans to implement the grant in Fiscal Year 2026/27 and anticipates starting the firefighter academy in September 2026. Funding for the six firefighter positions will be incorporated into the annual budget process alongside SAFER Grant revenues to align with the planned implementation timeline.

The Fire Department has been awarded a total of $2,911,896 in federal SAFER Grant funding over the three- year grant period. The grant is intended to cover up to 75 percent of eligible personnel and benefit costs in the first and second years, and up to 35 percent of eligible costs in the third year. The City is required to provide a local match for the remaining costs.

At the time the grant application was submitted, the cost estimates for the six firefighter positions did not reflect updated labor projections. As a result, the City’s required local match is projected to increase by $810,378, bringing the total City contribution to $2,620,476 over the three-year period.

The combined total of federal funding and the required local match is $5,532,372, as outlined below.

First Year Second Year Third Year Total
Personnel 778,532.46 848,600.38 882,544.39 2,509,677.23 Benefits 937,676.82 1,022,067.73 1,062,950.44 3,022,694.99 TOTAL 1,716,209.27 1,870,668.11 1,945,494.83 5,532,372.21 Total City
Share
535,710.77 690,169.61 1,394,595.54 2,620,475.92 Total Federal
Share
1,180,498.50 1,180,498.50 550,899.29 2,911,896.29

ATTACHMENTS

1. Resolution Accepting the SAFER Grant Award CAO Stamp

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Date: February 10, 2026
Subject: ADOPT A RESOLUTION ACCEPTING THE FISCAL YEAR 2024 STAFFING FOR

ADEQUATE FIRE AND EMERGENCY RESPONSE (SAFER) GRANT AWARD FROM

THE FEDERAL EMERGENCY MANAGEMENT AGENCY (FEMA) AND

AUTHORIZING THE CITY MANAGER TO EXECUTE ALL REQUIRED

AGREEMENTS AND DOCUMENTS

Page 4 ends

2. Vallejo FD_SAFER app

3. EMW-2024-FF-01576 - Award Package

CONTACT
Sidney Wilson, Administrative Analyst II
[email protected]

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Approved as to form:

By: for
Veronica Nebb, City Attorney
RESOLUTION NO.

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF VALLEJO ACCEPTING THE FISCAL YEAR 2024 STAFFING FOR ADEQUATE FIRE AND EMERGENCY

RESPONSE (SAFER) GRANT AWARD FROM THE FEDERAL EMERGENCY

MANAGEMENT AGENCY (FEMA) AND AUTHORIZING THE CITY MANAGER TO

EXECUTE ALL REQUIRED AGREEMENTS AND DOCUMENTS

WHEREAS, the City of Vallejo (“City”) has previously adopted resolutions authorizing participation in state and federal grant programs consistent with the City’s public safety and emergency response priorities; and

WHEREAS, the Federal Emergency Management Agency (FEMA) administers the Staffing for Adequate Fire and Emergency Response (SAFER) Grant Program to support local governments in maintaining adequate firefighter staffing levels; and

WHEREAS, the City of Vallejo submitted an application for the Fiscal Year 2024 SAFER Grant on May 16, 2025; and

WHEREAS, FEMA has awarded the City of Vallejo a SAFER Grant to support additional firefighter staffing, subject to the terms and conditions of the grant award; and

WHEREAS, acceptance of the SAFER Grant award requires execution of a Grant Award Agreement and related documents with FEMA; and

WHEREAS, acceptance of these funds is consistent with prior City Council actions authorizing the City to pursue and accept external funding to support essential municipal services;

NOW, THEREFORE, BE IT RESOLVED, that the above recitals are true and correct and are incorporated herein by this reference; and

BE IT FURTHER RESOLVED, that the City Council of the City of Vallejo hereby accepts the Fiscal Year 2024 SAFER Grant award from the Federal Emergency Management Agency; and

BE IT FURTHER RESOLVED, that the City Manager, or designee, is hereby authorized to execute all required agreements, certifications, and related documents and to take all actions necessary to accept and administer the SAFER Grant in accordance with its terms and conditions; and

BE IT FURTHER RESOLVED, that the City of Vallejo agrees to comply with all applicable requirements of the SAFER Grant Program and that grant funds shall not be used to supplant expenditures previously approved by the City Council.

[SIGNATURES ON NEXT PAGE]

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Adopted by the City Council of the City of Vallejo at a regular meeting held on February 10, 2026, with the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

ATTEST:

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Fiscal Year (FY) 2024 Sta2ing for Adequate Fire and Emergency Response (SAFER) Grant Status: Pending AOR signature Application ID: EMW-2024-FF-01576 OMB number: 1660-0054, Expiration date: 11/30/2022 View burden statement System for Award Management (SAM.gov) proﬁle Please identify your organization to be associated with this application. All organization information in this section will come from the System for Award Management (SAM) proﬁle for that organization. CITY OF VALLEJO Information current from SAM.gov as of: 05/16/2025

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UEI-EFT: CJNABVZB1KL4 DUNS (includes DUNS+4): 141690698 Employer Identiﬁcation Number (EIN): 946000448 Organization legal name: CITY OF VALLEJO Organization (doing business as) name: Mailing address: 970 NIMITZ AVE VALLEJO, CA 94592-1040 Physical address: 555 SANTA CLARA ST VALLEJO, CA 94590-5922 Is your organization delinquent on any federal debt? N SAM.gov registration status: Active as of 2025-05-15 00:00:00.000 GMT We have reviewed our bank account information on our SAM.gov proﬁle to ensure it is up to date Applicant information Please provide the following additional information about the department or organization applying for this grant. Applicant Name (i.e., ﬁre department or organization name) Vallejo Fire Department Main address of location impacted by this grant Main address 1 970 Nimitz Avenue Main address 2 City Vallejo State/territory Zip code 94592 Zip extension 1040 In what county/parish is your organization physically located? If you have more than one station, in what county/parish is your main station located? Solano County Applicant characteristics The SAFER (Sta^ing for Adequate Fire and Emergency Response) program intends to improve or restore local ﬁre departments' sta^ing and deployment capabilities so they may more e^ectively respond to emergencies. With the restored or enhanced sta^ing, grantees should see a reduction in response

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times and an increase in the number of trained personnel assembled at the incident scene. Grant funds are available in two activities: Hiring Fireﬁghters and Recruitment and Retention of Volunteer Fireﬁghters. Please review the Notice of Funding Opportunity for information on available program areas and for more information on the evaluation process and conditions of award. Please provide the following additional information about the applicant. Applicant type Fire Department/Fire District What kind of organization do you represent? All Paid/Career Which activity are you applying for? Hiring of Fireﬁghters Operating budget What was your department's operating budget (e.g., personnel, maintenance of apparatus, equipment, facilities, utility costs, purchasing expendable items, etc.) related to ﬁre-related programs and emergency response for the current (at time of application) ﬁscal year, as well as the previous three ﬁscal years? Current Fiscal Year (i.e., 2021) 2026 Fiscal Year Operating budget 2026 $35,900,928.00 2025 $31,746,309.00 2024 $32,938,106.00 2023 $33,356,429.00 What percentage of the declared operating budget is dedicated to personnel costs (salary, beneﬁts, overtime costs, etc.)? 89 Does your department have any rainy day reserves, emergency funds, or capital outlay? No What percentage of the declared operating budget is derived from the following 2026 Taxes 95 Bond issues 0

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What percentage of the declared operating budget is derived from the following 2026 EMS billing 1 Grants 4 Donations 0 Fund drives 0 Fee for service 0 Other 0 Total 100 % Describe your ﬁnancial need to include descriptions of the following: • Income vs. expense breakdown of the current annual budget • Budget shortfalls and the inability to address ﬁnancial needs without federal assistance • Actions taken to obtain funding elsewhere (i.e. state assistance programs or other grant programs) • How your critical functions are a^ected without this funding Income vs. Expense Breakdown Vallejo’s General Fund generates about $130–$140 million annually, mostly from sales tax, property tax, and service fees. However, 75–80% of this revenue goes to core personnel costs — salaries, beneﬁts, and overtime for Police, Fire, and Public Works — with public safety alone consuming over half of all spending. For FY 2025–26, Vallejo faces a $6.6 million gap driven by rising labor costs and softening revenues, including a $206,000 drop in property taxes and a $477,000 decline in sales tax. Even with federal rate cuts, inﬂation and lower consumer spending continue to squeeze city ﬁnances. To address this, the City Council approved a mix of cost-cutting and revenue measures: freezing non-essential positions, cutting services and supplies by 10%, and deferring ﬂeet maintenance despite rising costs. While a ﬁrst draft of mid-year adjustments proposed $2.4 million in new spending, city leaders are pushing for more conservative revisions to protect core services like public safety and homelessness response. Vallejo’s structural deﬁcit means local measures alone can’t fully close the gap — continued federal funding is critical to sustain sta2ing and protect neighborhood services. Budget Shortfalls and Reliance on Federal Support at a Pivotal Time Like many California cities, Vallejo faces growing costs and limited revenue growth. City sta2 project revenues down nearly $1 million while expenses are up $3.1 million. For FY 2026, the Fire Department budget shows a $3.78 million increase for salaries and beneﬁts due to new labor agreements and six new ﬁreﬁghter positions, while phasing out nine SAFER-funded roles. Similarly, Vallejo’s Police Department

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relied on the 2020 COPS Hiring Grant for eight o2icers at about $1.2 million annually — this funding expired June 30, 2025. A key Personnel Analyst II role funded through ARPA ends this June too, eliminating another $140,000. Together, expiring grants leave Vallejo with an immediate $2.7 million annual sta2ing gap that the General Fund cannot cover without further cuts to services or infrastructure. Vallejo plans to apply for an economic hardship waiver but, if needed, the City Council has committed to providing the local match and will adjust the FY 2026 budget through its standard mid-year check-in to prioritize core services and retention. Actions Taken to Secure Other Funding Vallejo actively pursues new SAFER and COPS grants each cycle and seeks additional state support for ﬁre and police sta2ing. Local Measure P sales tax revenue helps stabilize operations but comes with voter restrictions that limit how funds can be redirected. General Fund revenues remain ﬂat while personnel costs keep rising, driving a structural imbalance that local action alone cannot ﬁx. Vallejo previously received an economic hardship waiver to help o2set these constraints as it continues recovering from bankruptcy. Impact on Critical Functions Without New Federal Support Without renewed federal support, Vallejo’s ﬁre and police departments will struggle to maintain sta2ing levels, forcing more overtime and risking burnout. Gaps would slow emergency response times, reduce visible patrols, and weaken community trust. At the same time, cuts to administrative sta2 would hamper e2orts to address housing instability, code enforcement, and neighborhood revitalization. Vallejo projects a General Fund shortfall of $10 million next year, growing to $16 million by FY 2026–27, with expiring federal grants alone covering $2.7 million in annual personnel costs for 18 critical positions. Without federal bridge funding, the City cannot maintain current levels of public safety or core community services, threatening Vallejo’s fragile recovery and community well-being. New Council members are working to close these structural gaps through mid-year budget reviews and reallocations, but local solutions alone will not fully meet this need w/o continued federal funds. Other funding sources This ﬁscal year, are you receiving Federal funding from any other grant program for the same purpose for which you are applying for this grant? Yes This ﬁscal year, are you receiving Federal funding from any other grant program regardless of purpose? Yes Please provide an explanation for other funding sources in the space provided below. Yes, Vallejo will receive some federal funds in 2025–2026 (like CDBG and remaining ARPA), but these are restricted and cannot cover the public safety positions lost when SAFER and COPS funding ends. Applicant and community trends Please provide the following additional information about the applicant. Injuries and fatalities 2024 2023 2022 What is the total number of ﬁre-related civilian fatalities in your jurisdiction over the last three calendar years? 5 4 0 What is the total number of ﬁre-related civilian injuries in your jurisdiction over the last three calendar years? 4 1 4 What is the total number of line of duty member fatalities in your jurisdiction over the last three calendar years? 0 0 0 What is the total number of line of duty member injuries in your jurisdiction over the last three calendar years? 23 25 20

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Injuries and fatalities 2024 2023 2022 What is the total number of members with self-inﬂicted fatalities over the last three years? 0 0 0 How many frontline vehicles does your organization have in each of the types or classes of vehicle listed below that respond to ﬁrst alarm assignments in support of NFPA 1710/1720? You must include vehicles that are leased or on long-term loan as well as any vehicles that have been ordered or otherwise currently under contract for purchase or lease by your organization but not yet in your possession. Filled riding positions The number of ﬁlled riding positions must be equal or less than the number of frontline apparatus multiplied by the number of available riding positions. Type or class of vehicles Number of frontline apparatus Number of available riding positions Number of ﬁlled riding positions Engines or pumpers (pumping capacity of 750 gallons per minute (GPM) or greater and water capacity of 300 gallons or more): pumper, pumper/tanker, rescue/pumper, foam pumper, CAFS pumper, type I, type II engine urban interface. 7 28 21 Ambulances for transport and/or emergency response. 0 0 0 Tankers or tenders (water capacity of 1,000 gallons or more). 0 0 0 Aerial apparatus: aerial ladder truck, telescoping, articulating, ladder towers, platform, tiller ladder truck, quint. 2 8 6 Brush/quick attack (pumping capacity of less than 750 GPM and water carrying capacity of at least 300 gallons): brush truck, patrol unit (pickup w/ skid unit), quick attack unit, mini-pumper, type III engine, type IV engine, type V engine, type VI engine, type VII engine. 7 28 21 Rescue vehicles: rescue squad, rescue (light, medium, heavy), technical rescue vehicle, hazardous materials unit. 1 2 0 Additional vehicles: EMS chase vehicle, air/light unit, rehab units, bomb unit, technical support (command, operational support/supply), hose tender, salvage truck, ARFF (aircraft rescue ﬁreﬁghting), command/mobile communications vehicle. 12 12 6 Is your department facing a new risk, expanding service to a new area, or experiencing an increased call volume?

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Yes Please explain how your department is facing a new risk, expanding service to a new area, or experiencing an increased call volume. The Vallejo Fire Department is facing several compounding risks: a steady increase in emergency call volume, excessive ﬁreﬁghter overtime, and a looming wave of retirements. The demand for both medical and ﬁre response continues to grow, stretching our personnel thin. As a result, our ﬁreﬁghters are logging an unsustainable amount of overtime, which raises concerns around fatigue, safety, and long-term retention. Without su2icient sta2ing, residents do not consistently receive the level of emergency service and rapid response they deserve, putting the community at greater risk when multiple calls occur simultaneously or large incidents strain limited resources. Community description Please provide the following additional information about the community your organization serves. Type of jurisdiction served City What type of community does your organization serve? Suburban What is the square mileage of your ﬁrst due response zone/jurisdiction served? 50 What percentage of your primary response area is protected by hydrants? 90 What percentage of your primary response area is for the following: Percentage (must sum to 100%) Agriculture, wildland, open space, or undeveloped properties 15 Commercial and industrial purposes 20 Residential purposes 65 Total 100 What is the permanent resident population of your ﬁrst due response zone/jurisdiction served? 123475 Do you have a seasonal increase in population? Yes What is your seasonal increase in population (number of people)? 25000

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Please describe your organization and/or community that you serve. The Vallejo Fire Department (VFD) is an all-risk, Advanced Life Support agency serving the City of Vallejo—the largest city in Solano County and a critical gateway between Northern California and the San Francisco Bay Area. VFD comprises 108 personnel across Suppression, Administration, Prevention, and Training divisions. Operating out of seven ﬁre stations with eight companies and a daily sta2ing of 21 ﬁreﬁghters, the department responds to over 16,000 emergency calls annually. VFD also serves on regional Hazardous Materials and Urban Search and Rescue teams and participates in California’s statewide mutual aid system. Approximately 65% of VFD’s primary response area is residential, encompassing a wide range of housing—from pre–World War II Victorian and Craftsman homes to modern inﬁll development. The city’s service area also includes industrial zones, wildland-urban interface, maritime infrastructure, and major transportation corridors. Vallejo is home to California State University Maritime Academy, Touro University, Solano Community College Vallejo Center, and Discovery Kingdom amusement park, which draws more than 1.6 million visitors annually. As of the most recent U.S. Census data (2023 American Community Survey), Vallejo has a population of approximately 121,000 and a median household income of $89,496—signiﬁcantly below the Bay Area regional median. About 12% of Vallejo residents live below the poverty line. According to the 2024 Solano County Point-in-Time Count, Vallejo is home to 682 unhoused individuals, accounting for 40% of the county’s total. VFD’s service area is economically and demographically diverse, and the department is central to protecting a community that combines dense residential neighborhoods, key educational institutions, maritime and industrial activity, and essential regional infrastructure. Continued growth, coupled with complex response demands, reinforces the importance of a well-trained, well-sta2ed ﬁre department to ensure safety and stability throughout the city. Call volume Summary 2024 2023 2022 Fire - NFIRS Series 100 1075 1022 978 Overpressure Rupture, Explosion, Overheat (No Fire) - NFIRS Series 200 13 7 18 Rescue & Emergency Medical Service Incident - NFIRS Series 300 12526 11972 12378 Hazardous Condition (No Fire) - NFIRS Series 400 246 266 314 Service Call - NFIRS Series 500 801 829 849 Good Intent Call - NFIRS Series 600 3248 2824 2489 False Alarm & Falls Call - NFIRS Series 700 675 678 733 Severe Weather & Natural Disaster - NFIRS Series 800 3 7 0

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Summary 2024 2023 2022 Special Incident Type - NFIRS Series 900 10 10 23 Total 18597 17615 17782 Fire How many responses per year by category? Enter whole numbers only. If you have no calls for any of the categories, enter 0. How many responses per year per category? 2024 2023 2022 "Structure Fire" (Of the NFIRS Series 100 calls, NFIRS Codes 111-120) 203 200 183 "Vehicle Fire" (Of the NFIRS Series 100 calls, NFIRS Codes 130-138) 188 149 189 "Vegetation Fire" (Of the NFIRS Series 100 calls, NFIRS Codes 140-143) 103 76 124 Total 494 425 496 What is the total acreage of all vegetation ﬁres? Enter whole numbers only. If you have no vegetation ﬁres, enter 0. Total acreage per year 2024 2023 2022 Total acreage of all vegetation ﬁres 21 67 69 Rescue and emergency medical service incidents How many responses per year per category? 2024 2023 2022 "Motor Vehicle Accidents" (Of the NFIRS Series 300 calls, NFIRS Codes 322-324) 553 567 594 "Extrications from Vehicles" (Of the NFIRS Series 300 calls, NFIRS Code 352) 2 3 2 "Rescues" (Of the NFIRS Series 300 calls, NFIRS Code 300, 351, 353-381) 12 11 11 EMS-BLS Response Calls 0 548 512

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How many responses per year per category? 2024 2023 2022 EMS-ALS Response Calls 12412 10835 11250 EMS-BLS Scheduled Transports 0 0 0 EMS-ALS Scheduled Transports 0 0 0 Community Paramedic Response Calls 0 0 0 Total 12979 11964 12369 Mutual and automatic aid How many responses per year by category? Enter whole numbers only. If you have no calls for any of the categories, enter 0. How many responses per year per category? 2024 2023 2022 Amount of times the organization received Mutual Aid 355 110 98 Amount of times the organization received Automatic Aid 237 25 32 Amount of times the organization provided Mutual Aid 144 63 88 Amount of times the organization provided Automatic Aid 216 57 51 Of the Mutual and Automatic Aid responses, amount that were structure ﬁres 30 74 94 Total 982 329 363 Hiring of Fireﬁghters activity questions Sta2ing levels SAFER intends to restore or improve local ﬁre departments' sta^ing and deployment capabilities so they may more e^ectively respond to emergencies. With the enhanced sta^ing, a SAFER grant recipient's response time will be reduced su^iciently and an appropriate number of trained personnel will be assembled at the incident scene.

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The following questions are designed to help us understand the sta^ing changes that have occurred in your department over the past several years and how the grant will assist in restoring or improving your sta^ing levels. The information provided must be a true and accurate depiction of your department on the timelines listed below. For more information regarding these standards please see the Notice of Funding Opportunity or go to www.nfpa.org/freeaccess Select the item that best describes the NFPA standard your department is attempting to meet: 1720 - suburban What is the department's current (at the start of the application period) budgeted operational sta^ing level? Include all budgeted positions, even if they are not currently ﬁlled. Current budgeted operational sta^ing level 83 How many budgeted, but vacant operational positions does your department have at the start of the application period? 6 Please enter information about your organization's sta^ing levels in the table below . Sta2ing levels Total number of operational career personnel Number of operational career o2icers Number of NFPA support Sta^ing levels at the start of the application period 54 31 8 Sta^ing levels at one year prior to the start of the application period 48 31 8 Sta^ing levels at two years prior to the start of the application period 48 31 8 If awarded this grant, what will the sta^ing levels be in your department? 60 31 8 Please provide details on the department's existing sta^ing model to include the number of shifts, number of positions per shift, chief level o^icer sta^ing per shift (i.e., Battalion Chief, District Chief, etc.), and contracted shift hours per week/pay period. If the contracted shift hours included FLSA overtime or Kelly Days, please be sure to include details. According to the Authorized FTE Listing, Vallejo’s Fire Department maintains its core operations through budgeted full-time positions, including Fireﬁghters, Captains, Engineers, and command-level o2icers. In FY 2024–2025, Vallejo’s Fire budget includes nine (9) Fireﬁghter positions previously funded through the 2020 SAFER Grant, which expired in February 2025 and now require General Fund or new federal funding to sustain. The Department runs a three platoon schedule, with line personnel working 24-hour shifts under a standard 56-hour average work week. This schedule aligns with the Fair Labor Standards Act (FLSA) 7(k) exemption for ﬁreﬁghters, so base pay covers 48 hours, with the additional 8 hours per week treated as built-in FLSA overtime. Vallejo also uses a 48/96 rotation to reduce average hours worked and manage overtime costs; however, operational demands often force a 96/48 rotation instead. Each shift typically deploys 5 to 6 engine companies citywide, each sta2ed with a minimum of 2-3 Fireﬁghters, depending on vacancies and overtime backﬁll. A Battalion Chief is assigned to each

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shift to act as incident commander and shift supervisor, supported by the Fire Chief and Deputy Training Chief on administrative schedules. Due to limited local revenue, Vallejo’s Fire sta2ing relies on careful vacancy control, grant-funded positions, and overtime. When grant funding (like SAFER) expires, the City’s budget alone cannot fully absorb these frontline positions without cuts elsewhere — threatening minimum sta2ing levels needed to keep stations open and engines in service 24/7. Does your department utilize part-time or reserve paid ﬁreﬁghters? No Hiring of ﬁreﬁghters Please provide the following additional information regarding your ﬁre department. Based on current sta2ing levels: If your department utilizes overtime to ﬁll positions to ensure you are meeting applicable NFPA sta^ing and deployment standards, you should remove the number of positions ﬁlled by overtime from your calculations. How often does your department meet the NFPA assembly requirements as indicated in the table above for the department's ﬁrst due response zone/jurisdiction served? Most of the time (80 to 99%) What is the average actual sta^ing level on your ﬁrst arriving engine company or vehicle capable of initiating suppression activities on the number of structure ﬁres indicated in the department call volume section of your application? 3 Do you provide NFPA 1582 annual medical/physical exams? Yes If awarded the number of positions requested in this application: How often do you anticipate that your department will meet the NFPA assembly requirements as indicated in the table above? Most of the time (80 to 99%) What will be the average actual sta^ing level on your ﬁrst arriving engine company or vehicle capable of initiating suppression activities on the number of structure ﬁres indicated in the department call volume section of your application? 3 Will you provide the new hires with NFPA 1582 entry-level physicals? Yes Will the personnel hired meet the minimum EMS training and certiﬁcation as required by your Authority Having Jurisdiction (AHJ)? Yes Is it your department's intent to sustain the awarded positions after the completion of the period of performance? Yes Please provide a brief description on how the positions will be sustained. Once the SAFER-funded positions are added, the City intends to sustain them by budgeting them into the annual General Fund operating budget through future Council-approved appropriations, maintaining compliance with NFPA sta2ing standards and protecting core services for the community. Money will also be allocated to FTE rather than to overtime. Additionally, funds will be redirected from overtime expenses to support full-time positions. Of the approximately $4.5 million currently spent on overtime, a signiﬁcant portion will be reallocated to permanent sta2ing, improving both ﬁscal sustainability and ﬁreﬁghter well-being. Describe the department's step-by-step hiring process (application period, written test, physical, approval) and the timeline for each step.

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First, the City opens a four- to six-week application period through its Human Resources Department. Next, qualiﬁed applicants take a written ﬁreﬁghter exam about two to four weeks after the posting closes. Candidates who pass move on to a physical agility test held about one to two weeks later. Those who pass the physical test are scheduled for an oral interview with a panel of ﬁre o2icers and HR sta2. Finalists then complete a background investigation lasting four to six weeks, followed by an NFPA 1582 medical exam and drug screening. Once cleared, the Fire Chief gives ﬁnal approval and hires enter the Fire Recruit Academy, which runs 12 to 16 weeks and prepares them for active duty. How many recruits can be trained in one academy class? 8 How long after award will the department be able to start a recruit class? The Vallejo Fire Department anticipates starting a recruit class within 3 to 6 months of award notiﬁcation. How often are your recruit classes held? The Vallejo Fire Department holds recruit academies as needed to ﬁll vacancies from retirements, attrition, or new funded positions like SAFER grants. In recent years, Vallejo has generally run a ﬁre academy about every 1 to 2 years, depending on available funding and the number of open positions. For example, Vallejo is currently running a new hire academy in 2025 and is planning another for early 2026 to maintain sta2ing near fully funded levels. Does the department need governing body approval to accept and implement the award? Yes Provide details on the timeline needed to accept the grant award. The Vallejo Fire Department anticipates obtaining City Council approval to accept and implement the SAFER award within 30 to 60 days of award notiﬁcation. Is your request for hiring ﬁreﬁghters based on a risk analysis, sta^ing needs analysis, or an Insurance Services O^ice (ISO) rating? Yes Describe how the analysis was conducted and the outcome of the analysis or ISO rating. An external analysis will be conducted by the end of 2025 to update the previous Standards of Cover that was completed in 2007, which showed need while service demand has increased since that time and sta2ing has decreased signiﬁcantly. A vendor has just been selected to complete both a risk assessment and strategic plan. Does your department currently have a policy in place to recruit and hire veterans? Yes Please provide a brief description of the policy in place. Vallejo’s ﬁreﬁghter recruitment bulletins—such as those posted on GovernmentJobs.com/careers/vallejo—a2irm that qualiﬁed veterans receive preference points in accordance with state and local policies, speciﬁcally California Government Code §18973, which governs veterans’ preference in civil service examinations. Over the past three ﬁreﬁghter academies, four veterans have successfully participated. Narrative statements The narrative statements must provide all the information necessary for you to justify your needs and for FEMA to make an award decision. A panel of peer reviewers will perform the second phase of the applications' evaluations by using the narrative statements below to determine the worthiness of the request for an award. Please ensure that your narrative clearly addresses each of the following evaluation criteria elements to the best of your ability with detailed but concise information. Provide only the information being requested for each element; if you provided information pertaining to the narrative elements elsewhere

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in the application you must still include it below. Failure to provide the information being requested may result in a lower score or the application not being funded. Project description Why does the department need the positions requested in this application? The Vallejo Fire Department urgently seeks SAFER grant funding to hire six additional ﬁreﬁghters to address critical sta2ing shortages that jeopardize ﬁreﬁghter safety, operational readiness, and our ability to meet the increasing demands of our growing community. Serving seven ﬁre stations, our truck company frequently operates with only two or three ﬁreﬁghters—well below the NFPA 1710 standard requiring four personnel. This sta2ing shortfall hinders our ability to safely perform vital ﬁreground tasks such as coordinated roof ventilation and interior search and rescue. Although ﬁreﬁghters are never alone, they must operate in tightly grouped, minimal crews, which limits tactical ﬂexibility and increases risk during complex incidents. Leadership roles are stretched thin as captains and engineers must simultaneously manage command, pump operations, and hands-on ﬁre suppression, compromising ﬁreground coordination and safety. The addition of six ﬁreﬁghters will stabilize sta2ing across Division Alpha 30, ensuring a dedicated captain on each crew and enhancing operational e2ectiveness and accountability. Daily sta2ing is further strained by injuries, required training, and scheduled leave, forcing heavy reliance on costly mandatory overtime. Vallejo currently spends approximately $4.5 million annually on overtime, much of which could be redirected to permanent full-time positions through SAFER funding—promoting ﬁscal responsibility and improving ﬁreﬁghter health and morale. The personal toll of understa2ing is signiﬁcant: ﬁve ﬁreﬁghter divorces in the past six months highlight the mental and emotional strain caused by frequent forced holdovers and extended shifts. Since 2012, 33 of 85 hires have resigned, often within just a few years, with an average tenure of under three years. Many leave for departments with healthier sta2ing and work-life balance. Regular holdovers force ﬁreﬁghters to choose between extended shifts or time with family, contributing to burnout and attrition. Looking ahead, nearly 20 ﬁreﬁghters are eligible to retire within three years, while over 25% of our current workforce has less than ﬁve years of experience. Without proactive hiring, Vallejo risks losing vital institutional knowledge, leadership continuity, and operational capacity. Covering diverse residential neighborhoods, industrial areas, maritime infrastructure, major highways, and wildland-urban interface zones, Vallejo’s ﬁre department must be prepared to meet growing and complex emergency needs. How will the positions requested in this application be used within the department? (e.g., 4th on engine, open a new station, eliminate browned out stations, reduce overtime)? The six ﬁreﬁghter positions requested in this application will be used to increase daily sta2ing capacity across all three shifts, with the primary purpose of assigning a fourth ﬁreﬁghter to our truck company (without stressing our sta2 with overtime to maintain four), bringing it into compliance with NFPA 1710 national standards. This will enhance the e2ectiveness and safety of truck operations during ﬁreground and rescue incidents. In addition, these positions will provide essential sta2ing relief to ﬁll daily vacancies caused by injuries, vacation, training, and other leave, which currently result in forced overtime and increased ﬁreﬁghter fatigue. By increasing shift strength, the department will be able to reduce excessive overtime, improve work-life balance, and support operational consistency across the city’s six open ﬁre stations. While these positions will not be used to reopen the station in Mare Island or to open a station in Hiddenbrooke; both are areas that highlight the city’s ongoing coverage challenges. For example, Mare Island relies on a single bridge with limited access, creating delays during emergencies. Hiddenbrooke is a residential community o2 I-80 with only one entrance and is surrounded by canyons and hills, adding signiﬁcant wildland ﬁre risk. Despite community requests, the city has been unable to fund a dedicated station there. Response times are a serious concern: it takes a minimum of 9 minutes just to reach the entrance and up to 15 minutes to reach the far end—time that can make the di2erence between a contained ﬁre and one that doubles in size every minute, or survival in a cardiac arrest where brain damage becomes irreversible after 10 minutes. Although these stations remain closed for now, the requested positions are a critical step toward stabilizing current operations, protecting ﬁreﬁghter safety, and ensuring reliable emergency service delivery across Vallejo’s high-demand service area.

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What speciﬁc services will the requested positions provide to the ﬁre department and community? The six ﬁreﬁghters will enhance sta2ing on emergency response units, particularly by enabling the department to add a fourth ﬁreﬁghter to the truck company, improving safety and performance during structure ﬁres, technical rescues, and other complex incidents. In the ﬁeld, these positions will allow the department to maintain full sta2ing on engine and truck companies without relying on excessive overtime, ensuring that all units are properly sta2ed to meet the growing number of ﬁre, EMS, and multi-hazard responses. This includes ﬁrst response to residential and commercial ﬁres, advanced life support for medical emergencies, hazardous materials incidents, vehicle accidents, and mutual aid deployments. By increasing daily sta2ing capacity, the additional ﬁreﬁghters will also allow the department to respond more e2iciently to simultaneous calls, which are increasingly common in a high-demand service area. Ultimately, these positions will reduce response times, improve ﬁreﬁghter safety, and enhance the department’s ability to serve the residents, workers, and visitors of Vallejo with high-quality, dependable emergency services. Describe how funds awarded through this grant would enhance the department's ability to protect critical infrastructure within the primary response area. Vallejo is home to several high-risk and high-value infrastructure sites, including the Mare Island dry dock and ship repair facility, petroleum and manufacturing operations, major regional transportation routes such as Interstate 80 and Highway 37, and port access along the Carquinez Strait—the only maritime route serving the Ports of Stockton and Sacramento. The city also contains a signiﬁcant portion of the Bay Area’s power and communications infrastructure, water treatment facilities, and regional distribution hubs. With these additional positions, the department can maintain full sta2ing levels on frontline apparatus, allowing for faster and more coordinated responses to incidents involving these facilities. Improved truck company sta2ing (with the addition of a fourth ﬁreﬁghter) ensures safer and more e2icient operations during technical rescues, structure ﬁres, and hazardous materials responses—many of which could directly a2ect the safety and function of critical infrastructure. Impact on daily operations Explain how the community and the current ﬁreﬁghters employed by the department are at risk without the positions requested in this application. The Vallejo community is at risk because limited sta2ing compromises our ability to respond rapidly and e2ectively to simultaneous incidents in a city that receives over 16,000 emergency calls annually and includes residential neighborhoods, industrial sites, major highways, and maritime infrastructure. Insu2icient sta2ing can lead to longer response times, reduced capacity to manage complex incidents, and greater reliance on mutual aid, which may not always be immediately available. In life-threatening emergencies, these delays can have devastating consequences. Our ﬁreﬁghters are also at elevated risk. With daily sta2ing at 21 and no bu2er to cover vacancies caused by leave, injury, or training, our crews are routinely forced to work excessive overtime to meet minimum sta2ing requirements. This leads to physical and mental fatigue, increased risk of injury, and higher burnout rates. Operating a three-person truck company, rather than the recommended four-person crew, limits the e2iciency and safety of ﬁreground operations and puts ﬁreﬁghters in more hazardous conditions with fewer hands to perform critical tasks. Additionally, with an aging workforce and several upcoming retirements, the department faces a widening sta2ing gap that could reduce capacity even further. Without SAFER-funded positions to stabilize our workforce now, we risk losing ground on operational readiness and ﬁreﬁghter wellness—and ultimately the community’s conﬁdence in our ability to deliver timely, life-saving services. How will that risk be reduced if awarded? Once awarded SAFER grant funds, the VFD will hire six additional ﬁreﬁghters, which will immediately reduce risk to both the community and our current personnel by strengthening daily sta2ing, increasing operational capacity, and relieving the strain of excessive overtime. The additional positions will enable us to assign a fourth ﬁreﬁghter to our truck company, bringing it into compliance with national safety standards and improving performance during structure ﬁres, rescues, and other high-risk incidents. With more hands on the scene, tasks can be performed

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more quickly and safely, reducing the likelihood of injuries and improving outcomes for the public. The increased sta2ing will also allow the department to maintain full shift strength even when faced with absences due to injury, vacation, or training. This reduces our reliance on forced overtime, decreases ﬁreﬁghter fatigue, and supports healthier, more sustainable work schedules—key to both retention and performance. From a community perspective, enhanced sta2ing means we can respond more quickly and e2ectively to multiple emergencies, maintain coverage across all districts, and ensure that critical infrastructure and vulnerable populations receive uninterrupted protection. In short, the grant would give Vallejo the personnel it needs to meet growing service demands while protecting those who serve and those they serve. Cost beneﬁt Describe the beneﬁts (e.g., quantifying the anticipated savings and/or e^iciencies) the department and community will realize if awarded the positions requested in this application. Due to ongoing sta2ing shortages, the department must rely heavily on overtime just to maintain minimum sta2ing levels. In FY 2024–25, the Vallejo Fire Department spent about $4.3 million on overtime, much of it to cover daily vacancies. Adding six full-time ﬁreﬁghters will help reduce this burden by cutting hundreds of overtime hours each month—last year alone required 1,400 mandatory overtime shifts, not counting voluntary overtime. This added sta2ing could save the City an estimated $500,000 to $700,000 per year, depending on leave and injury rates. Bringing these new positions on board will also help the department consistently meet NFPA 1710 standards by assigning a fourth ﬁreﬁghter to the truck company. This improves the speed and safety of ﬁreground and rescue operations, reduces the need for mutual aid, and ensures that all ﬁre companies are fully sta2ed to handle multiple calls at once. The community will beneﬁt from quicker response times, better coverage citywide, and a healthier, more resilient ﬁreﬁghting force. Better-sta2ed crews mean faster responses, fewer losses, better medical outcomes, and a greater ability to keep small emergencies from becoming major incidents—protecting lives, property, and the City’s bottom line. Additional information If you have any additional information you would like to include about the department and/or this application in general, please provide below. Our ﬁreﬁghters and their families are currently facing signiﬁcant stress and burnout due to excessive overtime, which is neither healthy nor sustainable over the long term. This ongoing strain a2ects not only individual well-being but also overall department morale and retention. Many of our ﬁreﬁghters are parents, and the burden of constant overtime often forces them to miss precious time with their families. In just the last six months, ﬁve ﬁreﬁghter divorces highlight how forced overtime and unpredictable schedules take a heavy toll on family life. As mentioned above, since 2012, the department has hired 85 ﬁreﬁghters, but 33 have resigned—many after an average tenure of only two years and ten months—often leaving for departments that o2er healthier working conditions and better sta2ing. Every shift cycle, our crews must make tough decisions about mandatory holds just to keep trucks in service, placing added pressure on families who are already sacriﬁcing so much. The new positions requested will provide much-needed relief, allowing ﬁreﬁghters to maintain a healthier work-life balance and continue serving the City of Vallejo with dedication and strength. This investment directly supports our mission: to ensure a safe community through exceptional, professional ﬁre service. By stabilizing sta2ing, we can better fulﬁll this mission for our residents while supporting the ﬁreﬁghters—and their families—who make it possible. We are grateful for the opportunity to invest in our people and our community, conﬁdent these positions will bring lasting, meaningful beneﬁts for all. Position Position: New, Additional Fireﬁghter(s) $4,721,994.00

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Award Letter
U.S. Department of Homeland Security
Washington, D.C. 20472
Eﬀective date: 09/24/2025
Kevin Reustle

CITY OF VALLEJO
970 NIMITZ AVE
VALLEJO, CA 94592
EMW-2024-FF-01576
Dear Kevin Reustle,
Congratulations on behalf of the Department of Homeland Security. Your application submitted for the Fiscal Year (FY) 2024 Staﬃng for Adequate Fire and Emergency Response (FF) Grant funding opportunity has been approved in the amount of $2,911,896.29 in Federal funding.

As a condition of this award, you are required to contribute non-Federal funds equal to or greater than the non-Federal share percentage in the following table:

Before you request and receive any of the Federal funds awarded to you, you must establish acceptance of the award through the FEMA Grants Outcomes (FEMA GO) system. By accepting this award, you acknowledge that the terms of the following documents are incorporated into the terms of your award:

Summary Award Memo - included in this document
Agreement Articles - included in this document
Obligating Document - included in this document
2024 FF Notice of Funding Opportunity (NOFO) - incorporated by reference Please make sure you read, understand, and maintain a copy of these documents in your oﬃcial ﬁle for this award.

Year Non-Federal Share: Percentage of
Actual Costs
Federal Share: Percentage of
Actual Costs
First Year 25% 75%
Second
Year
25% 75%
Third Year 65% 35%

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Sincerely,
Stacey Street
Deputy Assistant Administrator
Grants Program Directorate
Summary Award Memo
Program: Fiscal Year 2024 Staﬃng for Adequate Fire and Emergency Response Recipient: CITY OF VALLEJO
UEI-EFT: CJNABVZB1KL4
Award number: EMW-2024-FF-01576
Summary description of award
The purpose of the SAFER Grant Program is to provide funding directly to ﬁre departments and volunteer ﬁreﬁghter interest organizations to assist in increasing the number of ﬁreﬁghters to help communities meet industry minimum standards and attain 24-hour staﬃng to provide adequate protection from ﬁre and ﬁre-related hazards, and to fulﬁll traditional missions of ﬁre departments. After careful consideration, FEMA has determined that the recipient's project or projects submitted as part of the recipient's application and detailed in the project narrative as well as the request details section of the application ― including budget information ― was consistent with the SAFER Grant Program’s purpose and was worthy of award.

Except as otherwise approved as noted in this award, the information you provided in your application for Fiscal Year (FY) 2024 Staﬃng for Adequate Fire and Emergency Response (SAFER) Grant funding is incorporated into the terms and conditions of this award. This includes any documents submitted as part of the application.

Position Cost Limit
The usual cost of a ﬁrst-year ﬁreﬁghter in your department at the time your application was submitted was $1,573,998.00. The maximum amount of Federal funding provided to the recipient is limited to the following:

Year Federal Funding Cap
Percent Federal Funding Cap Amount per Fireﬁghter
First Year 75% $1,180,498.50
Second Year 75% $1,180,498.50
Third Year 35% $550,899.29

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Amount awarded
The amount of the award is detailed in the attached Obligating Document for Award. The cost share amounts described in this award letter are based on the approved total project cost; however, the Federal funding available is limited based on the applicable position cost limit and the applicable cost share as applied to actual costs.

The following are the total approved budgeted estimates for object classes for all funded ﬁreﬁghter positions for this award (including Federal share plus your cost share, if applicable, as applied to the estimated costs):

Program Income $0.00
Approved scope of work
After review of your application, FEMA has approved the below scope of work. Justiﬁcations are provided for any diﬀerences between the scope of work in the original application and the approved scope of work under this award. You must submit scope or budget revision requests for FEMA's prior approval, via an amendment request, as appropriate per 2 C.F.R. § 200.308 and the FY2024 FF NOFO.

Approved request details:

Object Class First Year Second Year Third Year Total
Personnel $1,049,334.00 $1,049,334.00 $1,049,334.00 $3,148,002.00 Fringe beneﬁts $524,664.00 $524,664.00 $524,664.00 $1,573,992.00 Travel $0.00 $0.00 $0.00 $0.00
Equipment $0.00 $0.00 $0.00 $0.00
Supplies $0.00 $0.00 $0.00 $0.00
Contractual $0.00 $0.00 $0.00 $0.00
Construction $0.00 $0.00 $0.00 $0.00
Other $0.00 $0.00 $0.00 $0.00
Indirect charges $0.00 $0.00 $0.00 $0.00
Federal $1,180,498.50 $1,180,498.50 $550,899.29 $2,911,896.29 Non-federal $393,499.50 $393,499.50 $1,023,098.71 $1,810,097.71 Total $1,573,998.00 $1,573,998.00 $1,573,998.00 $4,721,994.00

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Hiring of Fireﬁghters
Agreement Articles
Program: Fiscal Year 2024 Staﬃng for Adequate Fire and Emergency Response Recipient: CITY OF VALLEJO
UEI-EFT: CJNABVZB1KL4
Award number: EMW-2024-FF-01576
Table of contents
New, Additional Fireﬁghter(s)

BENEFITS FUNDED
PERS retirement, health insurance, workers compensation, and leave payouts

NUMBER OF

FIREFIGHTERS
ANNUAL

SALARY PRICE
ANNUAL

BENEFITS

TOTAL PER

FIREFIGHTER
6 $174,889.00 $87,444.00 $262,333.00
3 YEAR TOTAL
$4,721,994.00

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Article
1 Assurance, Administrative Requirements, Cost Principles, Representations, and Certiﬁcations
Article
2 General Acknowledgements and Assurances
Article
3 Acknowledgement of Federal Funding from DHS
Article
4 Activities Conducted Abroad
Article
5 Age Discrimination Act of 1975
Article
6 Americans with Disabilities Act of 1990
Article
7 Best Practices for Collection and Use of Personally Identiﬁable Information Article
8 CHIPS and Science Act of 2022, Public Law 117-167 CHIPS Article
9 Civil Rights Act of 1964 – Title VI
Article
10 Civil Rights Act of 1968
Article
11 Communication and Cooperation with the Department of Homeland Security and Immigration Oﬃcials
Article
12 Copyright
Article
13 Debarment and Suspension
Article
14 Drug-Free Workplace Regulations
Article
15 Duplicative Costs
Article
16 Education Amendments of 1972 (Equal Opportunity in Education Act) – Title IX Article
17 Energy Policy and Conservation Act
Article
18 Equal Treatment of Faith-Based Organizations
Article
19 Anti-Discrimination
Article
20 False Claims Act and Program Fraud Civil Remedies
Article
21 Federal Debt Status
Article
22 Federal Leadership on Reducing Text Messaging while Driving Article
23 Fly America Act of 1974
Article
24 Hotel and Motel Fire Safety Act of 1990
Article
25 John S. McCain National Defense Authorization Act of Fiscal Year 2019 Article
26 Limited English Proﬁciency (Civil Rights Act of 1964, Title VI) Article
27 Lobbying Prohibitions

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Article
28 National Environmental Policy Act
Article
29 National Security Presidential Memorandum-33 (NSPM-33) and provisions of the CHIPS and Science Act of 2022, Pub. L. 117-167, Section 10254 Article
30 Non-Supplanting Requirement
Article
31 Notice of Funding Opportunity Requirements
Article
32 Patents and Intellectual Property Rights
Article
33 Presidential Executive Orders
Article
34 Procurement of Recovered Materials
Article
35 Rehabilitation Act of 1973
Article
36 Reporting Recipient Integrity and Performance Matters Article
37 Reporting Subawards and Executive Compensation
Article
38 Required Use of American Iron, Steel, Manufactured Products, and Construction Materials
Article
39 SAFECOM
Article
40 Subrecipient Monitoring and Management
Article
41 System for Award Management and Unique Entity Identiﬁer Requirements Article
42 Termination of a Federal Award
Article
43 Terrorist Financing
Article
44 Traﬃcking Victims Protection Act of 2000(TVPA)
Article
45 Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, Pub. L. 107-56 Article
46 Use of DHS Seal, Logo and Flags
Article
47 Whistleblower Protection Act
Article
48 Environmental Planning and Historic Preservation (EHP) Review Article
49 Applicability of DHS Standard Terms and Conditions to Tribal Nations Article
50 Acceptance of Post Award Changes
Article
51 Disposition of Equipment Acquired Under the Federal Award Article
52 Prior Approval for Modiﬁcation of Approved Budget
Article
53 Indirect Cost Rate
Article
54 Build America, Buy America Act (BABAA) Required Contract Provision & Self- Certiﬁcation

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Article
55 Award Performance Goals
Article
56 Non-Applicability of Speciﬁc Agreement Articles
Article
57 Payment Information (Updated)
Article
58 Termination of the Federal Award (Updated)
Article
59 Non-Applicability of Speciﬁc Agreement Articles

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Article 1 Assurance, Administrative Requirements, Cost Principles, Representations, and Certiﬁcations
I. Recipients must complete either the Oﬃce of Management and Budget (OMB) Standard Form 424B Assurances – Non- Construction Programs, or OMB Standard Form 424D Assurances – Construction Programs, as applicable. Certain assurances in these documents may not be applicable to your program and the DHS ﬁnancial assistance oﬃce (DHS FAO) may require applicants to certify additional assurances. Applicants are required to ﬁll out the assurances, as instructed.

Article 2 General Acknowledgements and Assurances
Recipients are required to follow the applicable provisions of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards in eﬀect as of the federal award date and located in Title 2, Code of Federal Regulations, Part 200 and adopted by DHS at 2 C.F.R. § 3002.10. All recipients and subrecipients must acknowledge and agree to provide DHS access to records, accounts, documents, information, facilities, and staﬀ pursuant to 2 C.F.R. § 200.337. I. Recipients must cooperate with any DHS compliance reviews or compliance investigations. II. Recipients must give DHS access to examine and copy records, accounts, and other documents and sources of information related to the federal award and permit access to facilities and personnel. III. Recipients must submit timely, complete, and accurate reports to the appropriate DHS oﬃcials and maintain appropriate backup documentation to support the reports. IV. Recipients must comply with all other special reporting, data collection, and evaluation requirements required by law, federal regulation, Notice of Funding Opportunity, federal award speciﬁc terms and conditions, and/or DHS Component program guidance. Organization costs related to data and evaluation are allowable. The deﬁnition of data and evaluation costs is in 2 C.F.R. § 200.455(c), the full text of which is incorporated by reference. V. Recipients must complete DHS Form 3095 within 60 days of receipt of the Notice of Award for the ﬁrst award under which this term applies. For further instructions and to access the form, please visit:
https://www.dhs.gov/civil-rightsresources-recipients-dhs-ﬁnancial-assistance.

Article 3 Acknowledgement of Federal Funding from DHS
Recipients must acknowledge their use of federal award funding when issuing statements, press releases, requests for proposal, bid invitations, and other documents describing projects or programs funded in whole or in part with federal award funds.

Article 4 Activities Conducted Abroad
Recipients must coordinate with appropriate government authorities when performing project activities outside the United States obtain all appropriate licenses, permits, or approvals.

Article 5 Age Discrimination Act of 1975
Recipients must comply with the requirements of the Age Discrimination Act of 1975, Pub. L. No. 94-135 (codiﬁed as amended at Title 42, U.S. Code § 6101 et seq.), which prohibits discrimination on the basis of age in any program or activity receiving federal ﬁnancial assistance.

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Article 6 Americans with Disabilities Act of 1990
Recipients must comply with the requirements of Titles I, II, and III of the Americans with Disabilities Act, Pub. L. No. 101-336 (1990) (codiﬁed as amended at 42 U.S.C. §§ 12101– 12213), which prohibits recipients from discriminating on the basis of disability in the operation of public entities, public and private transportation systems, places of public accommodation, and certain testing entities.

Article 7 Best Practices for Collection and Use of Personally Identiﬁable Information (1) Recipients who collect personally identiﬁable information (PII) as part of carrying out the scope of work under a federal award are required to have a publicly available privacy policy that describes standards on the usage and maintenance of the PII they collect. (2) Deﬁnition. DHS deﬁnes “PII” as any information that permits the identity of an individual to be directly or indirectly inferred, including any information that is linked or linkable to that individual. Recipients may also ﬁnd the DHS Privacy Impact Assessments: Privacy Guidance and Privacy Template as useful resources respectively.

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Article 8 CHIPS and Science Act of 2022, Public Law 117-167 CHIPS (1) Recipients of DHS research and development (R&D) awards must report to the DHS Component research program oﬃce any ﬁnding or determination of sex based and sexual harassment and/or an administrative or disciplinary action taken against principal investigators or co-investigators to be completed by an authorized organizational representative (AOR) at the recipient institution. (2) Notiﬁcation. An AOR must disclose the following information to agencies within 10 days of the date/the ﬁnding is made, or 10 days from when a recipient imposes an administrative action on the reported individual, whichever is sooner. Reports should include: (a) Award number, (b) Name of PI or Co-PI being reported, (c) Awardee name, (d) Awardee address, (e) AOR name, title, phone, and email address, (f) Indication of the report type: (i) Finding or determination has been made that the reported individual violated awardee policies or codes of conduct, statutes, or regulations related to sexual harassment, sexual assault, or other forms of harassment, including the date that the ﬁnding was made. (ii) Imposition of an administrative or disciplinary action by the recipient on the reporting individual related to a ﬁnding/determination or an investigation of an alleged violation of recipient policy or codes of conduct, statutes, or regulations, or other forms of harassment. (iii) The date and nature of the administrative/disciplinary action, including a basic explanation or description of the event, which should not disclose personally identiﬁable information regarding any complaints or individuals involved.

Any description provided must be consistent with the Family Educational Rights in Privacy Act. (3) Deﬁnitions. (a) An “authorized organizational representative (AOR)” is an administrative oﬃcial who, on behalf of the proposing institution, is empowered to make certiﬁcations and representations and can commit the institution to the conduct of a project that an agency is being asked to support as well as adhere to various agency policies and award requirements. (b) “Principal investigators and co-principal investigators” are award personnel supported by a grant, cooperative agreement, or contract under Federal law. (c) A “reported individual” refers to recipient personnel who have been reported to a federal agency for potential sexual harassment violations. (d) “Sex based harassment” means a form of sex discrimination and includes harassment based on sex, sex stereotypes, sex characteristics, pregnancy or related conditions, sexual orientation, and gender identity. (e) “Sexual harassment” means unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature when this conduct explicitly or implicitly aﬀects an individual’s employment, unreasonably interferes with an individual’s work performance, or creates an intimidating, hostile, or oﬀensive work environment, whether such activity is carried out by a supervisor or by a co-worker, volunteer, or contractor.

Article 9 Civil Rights Act of 1964 – Title VI
Recipients must comply with the requirements of Title VI of the Civil Rights Act of 1964, Pub. L. No. 88-352 (codiﬁed as amended at 42 U.S.C. § 2000d et seq.), which provides that no person in the United States will, on the grounds of race, color, or national origin, be excluded from participation in, be denied the beneﬁts of, or be subjected to discrimination under any program or activity receiving federal ﬁnancial assistance. DHS implementing regulations for the Act are found at 6 C.F.R.

Part 21. Recipients of a federal award from the Federal Emergency Management Agency (FEMA) must also comply with FEMA’s implementing regulations at 44 C.F.R. Part 7.

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Article 10 Civil Rights Act of 1968
Recipients must comply with Title VIII of the Civil Rights Act of 1968, Pub. L. No. 90284 (codiﬁed as amended at 42 U.S.C. § 3601 et seq.) which prohibits recipients from discriminating in the sale, rental, ﬁnancing, and advertising of dwellings, or in the provision of services in connection. therewith, on the basis of race, color, national origin, religion, disability, familial status, and sex, as implemented by the U.S. Department of Housing and Urban Development at 24 C.F.R. Part 100. The prohibition on disability discrimination includes the requirement that new multifamily housing with four or more dwelling units— i.e., the public and common use areas and individual apartment units (all units in buildings with elevators and ground-ﬂoor units in buildings without elevators)—be designed and constructed with certain accessible features. (See 24 C.F.R. Part 100, Subpart D.) Article 11 Communication and Cooperation with the Department of Homeland Security and Immigration Oﬃcials
(1) All recipients and other recipients of funds under this award must agree that they will comply with the following requirements related to coordination and cooperation with the Department of Homeland Security and immigration oﬃcials: (a) They must comply with the requirements of 8 U.S.C. §§ 1373 and 1644. These statutes prohibit restrictions on information sharing by state and local government entities with DHS regarding the citizenship or immigration status, lawful or unlawful, of any individual. Additionally, 8 U.S.C. § 1373 prohibits any person or agency from prohibiting, or in any way restricting, a Federal, State, or local government entity from doing any of the following with respect to information regarding the immigration status of any individual: 1) sending such information to, or requesting or receiving such information from, Federal immigration oﬃcials; 2) maintaining such information; or 3) exchanging such information with any other Federal, State, or local government entity; (b) They must comply with other relevant laws related to immigration, including prohibitions on encouraging or inducing an alien to come to, enter, or reside in the United States in violation of law, 8 U.S.C. § 1324(a)(1)(A)(iv), prohibitions on transporting or moving illegal aliens, 8 U.S.C. § 1324(a)(1)(A)(ii), prohibitions on harboring, concealing, or shielding from detection illegal aliens, 8 U.S.C. § 1324(a)(1)(A)(iii), and any applicable conspiracy, aiding or abetting, or attempt liability regarding these statutes; (c) That they will honor requests for cooperation, such as participation in joint operations, sharing of information, or requests for short term detention of an alien pursuant to a valid detainer. A jurisdiction does not fail to comply with this requirement merely because it lacks the necessary resources to assist in a particular instance; (d) That they will provide access to detainees, such as when an immigration oﬃcer seeks to interview a person who might be a removable alien; and (e) That they will not leak or otherwise publicize the existence of an immigration enforcement operation. (2) The recipient must certify under penalty of perjury pursuant to 28 U.S.C. § 1746 and using a form that is acceptable to DHS, that it will comply with the requirements of this term.

Additionally, the recipient agrees that it will require any subrecipients or contractors to certify in the same manner that they will comply with this term prior to providing them with any funding under this award. (3) The recipient agrees that compliance with this term is material to the Government’s decision to make or continue with this award and that the Department of homeland Security may terminate this grant, or take any other allowable enforcement action, if the recipient fails to comply with this term.

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Article 12 Copyright
Recipients must aﬃx the applicable copyright notices of 17 U.S.C. §§ 401 or 402 to any work ﬁrst produced under federal awards and also include an acknowledgement that the work was produced under a federal award (including the federal award number and federal awarding agency). As detailed in 2 C.F.R. § 200.315, a federal awarding agency reserves a royalty-free, nonexclusive, and irrevocable right to reproduce, publish, or otherwise use the work for federal purposes and to authorize others to do so.

Article 13 Debarment and Suspension
Recipients must comply with the non-procurement debarment and suspension regulations implementing Executive Orders 12549 and 12689 set forth at 2 C.F.R.

Part 180 as implemented by DHS at 2 C.F.R. Part 3000. These regulations prohibit recipients from entering into covered transactions (such as subawards and contracts) with certain parties that are debarred, suspended, or otherwise excluded from or ineligible for participation in federal assistance programs or activities.

Article 14 Drug-Free Workplace Regulations
Recipients must comply with drug-free workplace requirements in Subpart B (or Subpart C, if the recipient is an individual) of 2 C.F.R. Part 3001, which adopts the Government- wide implementation (2 C.F.R. Part 182) of the Drug-Free Workplace Act of 1988 (41 U.S.C. §§ 8101-8106).

Article 15 Duplicative Costs
Recipients are prohibited from charging any cost to this federal award that will be included as a cost or used to meet cost sharing requirements of any other federal award in either the current or a prior budget period. See 2 C.F.R. § 200.403(f).

However, recipients may shift costs that are allowable under two or more federal awards where otherwise permitted by federal statutes, regulations, or the federal award terms and conditions.

Article 16 Education Amendments of 1972 (Equal Opportunity in Education Act) – Title IX
Recipients must comply with the requirements of Title IX of the Education Amendments of 1972, Pub. L. No. 92-318 (codiﬁed as amended at 20 U.S.C. § 1681 et seq.), which provide that no person in the United States will, on the basis of sex, be excluded from participation in, be denied the beneﬁts of, or be subjected to discrimination under any educational program or activity receiving federal ﬁnancial assistance. DHS implementing regulations are codiﬁed at 6 C.F.R. Part 17.

Recipients of a federal award from the Federal Emergency Management Agency (FEMA) must also comply with FEMA’s implementing regulations at 44 C.F.R. Part

19. Article 17 Energy Policy and Conservation Act
Recipients must comply with the requirements of the Energy Policy and Conservation Act, Pub. L. No. 94-163 (1975) (codiﬁed as amended at 42 U.S.C. § 6201 et seq.), which contain policies relating to energy eﬃciency that are deﬁned in the state energy conservation plan issued in compliance with this Act.

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Article 18 Equal Treatment of Faith-Based Organizations It is DHS policy to ensure the equal treatment of faith-based organizations in social service programs administered or supported by DHS or its component agencies, enabling those organizations to participate in providing important social services to beneﬁciaries. Recipients must comply with the equal treatment policies and requirements contained in 6 C.F.R. Part 19 and other applicable statutes, regulations, and guidance governing the participations of faith-based organizations in individual DHS programs.

Article 19 Anti-Discrimination
Recipients must comply with all applicable Federal anti-discrimination laws material to the government’s payment decisions for purposes of 31 U.S.C. § 372(b)(4). (1) Deﬁnitions. As used in this clause – (a) DEI means “diversity, equity, and inclusion.” (b) DEIA means “diversity, equity, inclusion, and accessibility.” (c) Discriminatory equity ideology has the meaning set forth in Section 2(b) of Executive Order 14190 of January 29, 2025. (d) Federal anti-discrimination laws mean Federal civil rights law that protect individual Americans from discrimination on the basis of race, color, sex, religion, and national origin. (e) Illegal immigrant means any alien, as deﬁned in 8 U.S.C. § 1101(a)(3), who has no lawful immigration status in the United States.(2) Grant award certiﬁcation. (a) By accepting the grant award, recipients are certifying that: (i) They do not, and will not during the term of this ﬁnancial assistance award, operate any programs that advance or promote DEI, DEIA, or discriminatory equity ideology in violation of Federal anti-discrimination laws; and (ii) They do not engage in and will not during the term of this award engage in, a discriminatory prohibited boycott. (iii) They do not, and will not during the term of this award, operate any program that beneﬁts illegal immigrants or incentivizes illegal immigration. (3) DHS reserves the right to suspend payments in whole or in part and/or terminate ﬁnancial assistance awards if the Secretary of Homeland Security or her designee determines that the recipient has violated any provision of subsection (2). (4) Upon suspension or termination under subsection (3), all funds received by the recipient shall be deemed to be in excess of the amount that the recipient is determined to be entitled to under the Federal award for purposes of 2 C.F.R. § 200.346. As such, all amounts received will constitute a debt to the Federal Government that may be pursued to the maximum extent permitted by law.

Article 20 False Claims Act and Program Fraud Civil Remedies Recipients must comply with the requirements of the False Claims Act, 31 U.S.C. §§ 3729- 3733, which prohibit the submission of false or fraudulent claims for payment to the Federal Government. (See 31 U.S.C. §§ 3801-3812, which details the administrative remedies for false claims and statements made.) Article 21 Federal Debt Status
All recipients are required to be non-delinquent in their repayment of any federal debt. Examples of relevant debt include delinquent payroll and other taxes, audit disallowances, and beneﬁt overpayments. See OMB Circular A-129.

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Article 22 Federal Leadership on Reducing Text Messaging while Driving Recipients are encouraged to adopt and enforce policies that ban text messaging while driving recipient-owned, recipient-rented, or privately owned vehicles when on oﬃcial government business or when performing any work for or on behalf of the Federal Government. Recipients are also encouraged to conduct the initiatives of the type described in Section 3(a) of Executive Order 13513.

Article 23 Fly America Act of 1974
Recipients must comply with Preference for U.S. Flag Air Carriers (a list of certiﬁed air carriers can be found at: Certiﬁcated Air Carriers List | US Department of Transportation, https://www.transportation.gov/policy/aviation-policy/certiﬁcated- aircarriers-list)for international air transportation of people and property to the extent that such service is available, in accordance with the International Air Transportation Fair Competitive Practices Act of 1974, 49 U.S.C. § 40118, and the interpretative guidelines issued by the Comptroller General of the United States in the March 31, 1981, amendment to Comptroller General Decision B-138942.

Article 24 Hotel and Motel Fire Safety Act of 1990
Recipients must ensure that all conference, meeting, convention, or training space funded entirely or in part by federal award funds complies with the ﬁre prevention and control guidelines of Section 6 of the Hotel and Motel Fire Safety Act of 1990, 15 U.S.C. § 2225a.

Article 25 John S. McCain National Defense Authorization Act of Fiscal Year 2019 Recipients, subrecipients, and their contractors and subcontractors are subject to the prohibitions described in section 889 of the John S. McCain National Defense Authorization Act for Fiscal Year 2019, Pub. L. No. 115-232 (2018) and 2 C.F.R. §§ 200.216, 200.327, 200.471, and Appendix II to 2 C.F.R. Part 200. The statute – as it applies to DHS recipients, subrecipients, and their contractors and subcontractors – prohibits obligating or expending federal award funds on certain telecommunications and video surveillance products and contracting with certain entities for national security reasons.

Article 26 Limited English Proﬁciency (Civil Rights Act of 1964, Title VI) Recipients must comply with Title VI of the Civil Rights Act of 1964 (42 U.S.C. § 2000d et seq.) prohibition against discrimination on the basis of national origin, which requires that recipients of federal ﬁnancial assistance take reasonable steps to provide meaningful access to persons with limited English proﬁciency (LEP) to their programs and services. For additional assistance and information regarding language access obligations, please refer to the DHS Recipient Guidance:
https://www.dhs.gov/guidance-published-help- department-supported- organizationsprovide-meaningful-access-people-limited and additional resources on http://www.lep.gov.

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Vallejo City CouncilFebruary 10, 2026

Vallejo City Council
February 10, 2026