Special Joint Study Session with the Finance Commission

CITY OF SOUTH PASADENA STUDY SESSION AGENDA SPECIAL JOINT MEETING OF THE CITY COUNCIL WEDNESDAY, SEPTEMBER 17, 2025, AT 6:00 PM AMEDEE O. "DICK" RICHARDS JR. COUNCIL CHAMBERS 1424 MISSION STREET, SOUTH PASADENA, CALIFORNIA 91030 NOTICE ON PUBLIC PARTICIPATION & ACCESSIBILITY The South Pasadena City Council Meeting will be conducted in-person from the Amedee O. “Dick” Richards, Jr. Council Chambers, located at 1424 Mission Street, South Pasadena, CA 91030. Public participation may be made as follows: In-Person – Council Chambers, 1424 Mission Street, South Pasadena, CA 91030 Live Broadcast via the City website – http://www.spectrumstream.com/streaming/south_pasadena/live.cfm Via Zoom – Meeting ID: 825 9999 2830 Written Public Comment – written comment must be submitted by 12:00 p.m. the day of the meeting by emailing to ccpubliccomment@southpasadenaca.gov Via Phone–+1-669-900-6833 and entering the Zoom Meeting ID listed above. Meeting may be viewed at: 1. Go to the Zoom website, https://zoom.us/join and enter the Zoom Meeting information; or 2. Click on the following unique Zoom meeting link: https://us06web.zoom.us/j/82599992830 or 3. By calling: +1-669-900-6833 and entering the Zoom Meeting ID listed above; and viewing the meeting via http://www.spectrumstream.com/streaming/south_pasadena/live.cfm CALL TO ORDER: Mayor Janet Braun . ROLL CALL OF CITY COUNCIL: Mayor Janet Braun Mayor Pro Tem Sheila Rossi Councilmember Michael A. Cacciotti Councilmember Jon Primuth Councilmember Omari Ferguson 1

1. CONSIDERATION TO RECEIVE AND FILE THE TREASURER'S REPORT FOR THE MONTH ENDING JULY 31, 2025 2. CONSIDERATION TO RECEIVE AND FILE THE ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR) FOR FISCAL YEAR ENDED JUNE 30, 2024 3. CONSIDERATION TO RECEIVE AND FILE A PRESENTATION REGARDING THE FINANCE DEPARTMENT WORK PLAN FOR FISCAL YEAR 2025-2026 ROLL CALL OF FINANCE COMMISSION: Chair Peter Giulioni Jr. Vice Chair Commissioner Commissioner Cynthia Quade Nevin Stanton-Trehan Y-Le Ho Commissioner Renee Rubin CONSENT CALENDAR OPPORTUNITY TO COMMENT ON CONSENT CALENDAR Items listed under the Consent Calendar are considered by the City Manager to be routine in nature and will be enacted by one motion unless a public comment has been received or Councilmember requests otherwise, in which case the item will be removed for separate consideration. Any motion relating to an ordinance or a resolution shall also waive the reading of the ordinance or resolution and include its introduction or adoption as appropriate. Recommendation It is recommended that the Finance Commission and City Council receive and file the Treasurer's Reports for the month ending July 31, 2025. ACTION/DISCUSSION Recommendation It is recommended that the City Council and Finance Commission receive and file the annual audit reports for the year ended June 30, 2024. Recommendation It is recommended that the City Council and Finance Commission receive a presentation regarding the Finance Department Work Plan for Fiscal Year 2025-2026. ADJOURNMENT FOR YOUR INFORMATION FUTURE CITY COUNCIL MEETINGS October 1, 2025 Regular City Council Meeting 7:00 P.M. October 15, 2025 Regular City Council Meeting 7:00 P.M. November 5, 2025 Regular City Council Meeting 7:00 P.M. 2

November 19, 2025 Regular City Council Meeting 7:00 P.M. PUBLIC ACCESS TO AGENDA DOCUMENTS AND BROADCASTING OF MEETINGS City Council meeting agenda packets, any agenda related documents, and additional documents are available online for public viewing on the City’s website: https://www.southpasadenaca.gov/Your-Government/Your-City-Council/City-Council-Agendas Regular meetings are live streamed via the internet at: http://www.spectrumstream.com/streaming/south_pasadena/live.cfm AGENDA NOTIFICATION SUBSCRIPTION If you wish to receive an agenda email notification please contact the City Clerk’s Division via email at CityClerk@southpasadenaca.gov or call (626) 403-7230. ACCOMMODATIONS The City of South Pasadena wishes to make all of its public meetings accessible to the public. If special assistance is needed to participate in this meeting, please contact the City Clerk's Division at (626) 403-7230 or cityclerk@southpasadenaca.gov. Upon request, this agenda will be made available in appropriate alternative formats to persons with disabilities. Notification at least 48 hours prior to the meeting will assist staff in assuring that reasonable arrangements can be made to provide accessibility to the meeting (28 CFR 35.102-35.104 ADA Title II). CERTIFICATION OF POSTING I declare under penalty of perjury that I posted this notice of agenda for the meeting to be held on September 17, 2025, on the bulletin board in the courtyard of City Hall located at 1414 Mission Street, South Pasadena, CA 91030, and on the City, website as required by law, on the date listed below. 09/11/2025 /S/ Date Mark Perez, Acting Chief City Clerk 3

Study Session Agenda Report ITEM NO. 1 DATE: September 17, 2025 FROM: Todd Hileman, City Manager PREPARED BY: Nick Kimball, Assistant City Manager/CFO SUBJECT: CONSIDERATION TO RECEIVE AND FILE THE TREASURER'S REPORT FOR THE MONTH ENDING JULY 31, 2025 Recommendation It is recommended that the Finance Commission and City Council receive and file the Treasurer's Reports for the month ending July 31, 2025. Executive Summary The Treasurer’s Report for the month ending July 31, 2025 provides the City Council, management, and the public with information about the City’s cash and investment positions in compliance with the City’s Investment Policy. As of July 31, 2025, the City's cash balances were $6,019,858 to meet short-term needs and the market value of all investments was $99,115,920; for a total portfolio of $105,135,778. The average weighted total yield of the portfolio is 4.060%. Background On May 21, 2025, the Finance Commission reviewed the City’s Investment Policy for FY 2025-2026. Per the Investment Policy, the City Treasurer shall submit a monthly investment report to the City Council and copied to the Finance Commission based on the summaries provided by the Finance Department. The monthly investment report shall include the following information for all cash accounts and bank deposits: Balance at the end of the month; and Interest rate, for all interest-bearing active deposits The monthly report shall include the following information for all investments: A list of individual securities held at the end of the month, by security type; Issuer, date of maturity, date of purchase, par value and the dollar amount invested; Coupon, discount or earning rate; Current market value as of the date of the report and the source of such valuation; and The weighted average maturity and weighted average yield of all investments combined. Analysis A City Treasurer’s Report is a formal statement that provides the City Council, management, and the public with information about the City’s cash and investment position at a specific point in time. It typically includes: 1) cash balances in all city accounts, 2) investments and their 4

compliance with the City’s investment policy, and a certification of the Treasurer’s compliance with safekeeping and prudent investment practices. California Government Code §53646 recommends that a Treasurer’s Report be submitted to the legislative body at least quarterly. Below is a summary of cash and investments as of July 31, 2025: Fiscal Impact The City’s expenditure requirements for the next six months are covered by anticipated revenues from City operations and liquidity from maturing investments. The difference between market value and cost as of July 31, 2025, will be reflected in the City’s financial statements for Fiscal Year 2025-26 as an adjustment to interest income for each of the City’s funds on a pro rata basis as required by Governmental Accounting Standards Board Statement Number 31. The change in market value is considered temporary in nature, as the City mostly holds its investments until maturity, when they can be redeemed at par value. Attachment: Attachment No. 1 - Investment Report July 31, 2025 5

INSTITUTION NAME MATURITY DATE YIELD 1 PERCENT OF PORTFOLIO COST CURRENT MARKET VALUE * LOCAL AGENCY INVESTMENT FUND: LAIF City ON DEMAND 4.258% 33.88% 33,444,625 33,444,625 SUBTOTAL 33.88% 33,444,625$ 33,444,625$ ZIONS BANK Money Market See Exhibit B-1 3.970% 1.76% 1,735,214 1,735,214 Corporate Bonds See Exhibit B-1 4.439% 16.43% 16,217,291 16,373,437 Municipal Bonds Taxable See Exhibit B-1 4.350% 0.71% 700,000 699,419 U.S. Obligations See Exhibit B-1 3.990% 1.90% 1,871,897 1,880,477 U.S. Treasury Notes & Bonds See Exhibit B-1 3.493% 35.15% 34,697,789 34,952,023 Asset-Backed Securities See Exhibit B-1 4.770% 10.18% 10,045,561 10,030,725 SUBTOTAL 66.12% 65,267,753 65,671,295 TOTAL INVESTMENTS 100.00% 98,712,378 99,115,920 BANK ACCOUNTS: BMO (formerly Bank of the West) Accounts Balance 5,839,019$ BNY Mellon Uninvested Cash Balance2 180,839$ Footnotes: 2 The BNY Mellon Uninvested Cash Balance is information-only as it is funds intended for 2016 Water Revenue Bond. Required Disclosures: Average weighted maturity of the portfolio 775 DAYS Average weighted total yield of the portfolio 4.060% Projected Expenditures for the next 6 months: Projected with Average of Year to Date Expenses *** Projected with FY 2024-25 Adopted Budget: Using Adopted Budget FY 24-25 and divided by 2 for six month period * Current market valuation is required for investments with maturities of more than twelve months. **Differences between projected average and projected adopted is partly due to unspent CIP funds DRAFT DateZhen Tao, City Treasurer 52,333,232$ 56,781,214$ In compliance with the California Government Code Section 53646, as the City Treasurer of the City of South Pasadena, based on the information provided I hereby identify that the City is able to meet its expenditure requirements for the next six months and that all investments are in compliance to the City's Statement of Investment Policy. I also certify that this report reflects all Government Agency pooled investments and all City's bank balances. *** 12-month CPI ( All items - old base in Los Angeles-Long Beach-Anaheim, CA, all urban consumers, not seasonally adjusted) rate from July 2025 Investment Balances at Month End 1 Yield on LAIF and Zions Money Market is based on Current Yield. Yield on investments held at Zions Bank is based on Yield to Worst (YTW). July 31, 2025 Exhibit A City of South Pasadena INVESTMENT REPORTAttachment No. 1 6

Yield Coupon or Issuer CUSIP Par Value Rate Maturity Date Price per Stmnt Cost Market Value YTW1 Money Market Fidelity Gov Port III FCGXX 1,735,214 3.970% N/A 100.00% 1,735,214 1,735,214 3.970% . Subtotal Corporate Bonds 1,735,214 1,735,214 1,735,214 3.970% Corporate Bonds Amazon Com Inc 023135CP9 468,000 4.550% 12/01/27 100.98% 471,652 472,584 4.510% Fifth Third Bank 31677QBU2 650,000 4.967% 01/28/28 100.59% 654,394 653,824 4.940% National Rural Util 63743HFW7 300,000 4.750% 02/07/28 100.83% 303,294 302,485 4.710% State Str Corp 857477BS1 669,000 2.203% 02/07/28 96.75% 605,454 647,272 2.280% Comcast Corp New Sr Glbl Nt 20030NCA7 641,000 3.150% 02/15/28 97.21% 596,552 623,106 3.240% John Deere Capital 24422EWV7 626,000 4.900% 03/03/28 101.68% 633,366 636,494 4.820% Huntington National Bank 44644MAK7 300,000 4.871% 04/12/28 100.50% 301,917 301,485 4.850% General Dynamics Corp 369550BC1 657,000 3.750% 05/15/28 99.10% 642,077 651,075 3.780% Truist Financial 89788MAG7 650,000 4.123% 06/06/28 99.48% 647,160 646,624 4.140% Morgan Stanley Private Bank 61776NVE0 250,000 4.466% 07/06/28 99.93% 250,000 249,835 4.470% John Deere Capital Corp 24422EXB0 612,000 4.950% 07/14/28 102.23% 617,749 625,630 4.840% Truist Bank 89788JAF6 250,000 4.420% 07/24/28 99.85% 250,000 249,626 4.430% Abbvie Inc 00287YBF5 625,000 4.250% 11/14/28 100.01% 615,752 625,054 4.250% Texas Instrument Inc. Sr. Global Note 882508CG7 615,000 4.600% 02/08/29 101.22% 610,234 622,512 4.540% ` Waste Mgmt Inc Del 94106LBV0 620,000 4.875% 02/15/29 101.99% 624,310 632,362 4.780% Marsh & McLennan Cos Inc. 571748BG6 629,000 4.375% 03/15/29 100.13% 615,936 629,824 4.370% Morgan Stanley 61747YFY6 700,000 4.994% 04/12/29 101.21% 708,904 708,479 4.930% Goldman Sachs Group Inc. 38141GWV2 700,000 3.814% 04/23/29 98.12% 688,114 686,853 3.890% JPMorgan Chase & Co 46647PAR7 645,000 4.005% 04/23/29 98.88% 637,701 637,758 4.050% Wells Fargo & Co. 95000U3T8 700,000 4.970% 04/23/29 101.15% 709,128 708,076 4.910% American Express Co 025816CW7 650,000 4.050% 05/03/29 99.49% 636,597 646,690 4.070% PNC Finl Svcs Group Inc 693475BR5 300,000 5.582% 06/12/29 103.09% 309,705 309,257 5.410% American Express Co 025816EJ4 265,000 4.351% 07/20/29 99.78% 265,000 264,416 4.360% Citibank N A 17325FBK3 655,000 4.838% 08/06/29 101.65% 668,768 665,790 4.760% Chubb Ina Hldgs Inc 171239AL0 650,000 4.650% 08/15/29 101.28% 653,023 658,298 4.590% Bank Of America Corp 06051GLS6 769,000 5.819% 09/15/29 103.87% 791,670 798,729 5.600% Gilead Sciences Inc. 375558CB7 725,000 4.800% 11/15/29 101.55% 730,329 736,262 4.730% Bank New York Mellon Corp 06406RBV8 650,000 4.975% 03/14/30 102.07% 662,825 663,425 4.870% Bank America Corp 06051GGR4 325,000 3.593% 07/21/28 98.34% 315,682 319,609 3.650% Subtotal Corporate Bonds 16,296,000 16,217,291 16,373,437 4.439% Municipal Bonds Taxable Los Angeles CA Unified School 544647LC2 700,000 4.347% 10/01/29 99.9200 700,000 699,419 4.350% Subtotal Municipal Bonds Taxable 700,000 700,000 699,419 4.350% U.S. Obligations Federal Home Loan Banks 3130AWC24 1,875,000 4.000% 06/09/28 100.29% 1,871,897 1,880,477 3.990% Subtotal U.S. Obligations 1,875,000 1,871,897 1,880,477 3.990% U.S. Treasury Notes & Bonds U.S. Treasury Notes 91282CHB0 1,363,000 3.625% 05/15/26 99.55% 1,341,553 1,356,882 3.640% U.S. Treasury Notes 91282CCW9 4,072,000 0.750% 08/31/26 96.42% 3,815,783 3,926,140 0.780% U.S. Treasury Notes 91282CMY4 1,632,000 3.750% 04/30/27 99.59% 1,631,426 1,625,306 3.770% Exhibit B-1 City of South Pasadena Investments held at Zions Bank (managed by Payden & Rygel beginning June 1, 2025) July 31, 2025Attachment No. 1 7

Yield Coupon or Issuer CUSIP Par Value Rate Maturity Date Price per Stmnt Cost Market Value YTW1 U.S. Treasury Notes 91282CNL1 2,145,000 3.750% 06/30/27 99.61% 2,139,805 2,136,621 3.760% U.S. Treasury Notes 91282CFM8 963,000 4.125% 09/30/27 100.41% 973,984 966,912 4.110% U.S. Treasury Notes 91282CGH8 3,062,000 3.500% 01/31/28 99.03% 3,027,332 3,032,337 3.530% U.S. Treasury Notes 91282CHA2 4,400,000 3.500% 04/30/28 98.95% 4,261,866 4,353,938 3.540% U.S. Treasury Notes 91282CHQ7 4,542,000 4.125% 07/31/28 100.64% 4,571,856 4,571,097 4.100% U.S. Treasury Notes 91282CJR3 3,602,000 3.750% 12/31/28 99.48% 3,553,229 3,583,427 3.770% U.S. Treasury Notes 91282CKX8 2,506,000 4.250% 06/30/29 101.16% 2,501,953 2,535,074 4.200% U.S. Treasury Notes 91282CGQ8 2,300,000 4.000% 02/28/30 100.25% 2,303,234 2,305,660 3.990% U.S. Treasury Notes 91282CMZ1 2,250,000 3.875% 04/30/30 99.67% 2,248,769 2,242,529 3.890% U.S. Treasury Notes 91282CNK3 2,325,000 3.875% 06/30/30 99.62% 2,327,000 2,316,100 3.890% Subtotal Treasury Notes & Bonds 35,162,000 34,697,789 34,952,023 3.493% Asset-Backed Securities Ford Credit Auto Lease 34533MAD8 700,000 4.230% 12/15/28 99.7900 699,914 698,551 4.240% Ford Credit Auto 344940AE1 700,000 5.490% 05/15/29 101.9700 715,559 713,811 5.380% GM Financial Consumer 36268GAE5 700,000 4.860% 06/18/29 100.9500 707,109 706,650 4.810% Santander Drive Auto 2025-2 80287NAC9 650,000 4.670% 08/15/29 100.2600 652,996 651,664 4.660% Ally Auto Receivables 2024-1 02008FAD6 200,000 4.940% 10/15/29 101.0700 202,297 202,148 4.890% World Omni Auto Receivables 98164FAE2 650,000 5.030% 11/15/29 100.8200 656,729 655,330 4.990% Verizon Master Trust 2023-7 92348KCD3 371,000 5.670% 11/20/29 101.5700 377,406 376,814 5.580% Carmax Auto Owner Trust 2025- 14319WAD8 600,000 4.840% 01/15/30 101.0600 606,820 606,354 4.790% Santander Drive Auto 2025-3 80288JAC7 650,000 4.380% 01/15/30 99.9200 649,909 649,454 4.380% Honda Auto Rec Own Tr 2023-4 438123AD3 430,000 5.660% 02/21/30 102.0000 438,902 438,600 5.550% Carmax Auto Owner Trust 2025-214320AAD3 600,000 4.480% 03/15/30 100.2800 603,680 601,698 4.470% World Omni Auto Rec Tr 2025 98164YAD3 655,000 4.730% 03/15/30 100.7300 660,936 659,775 4.700% Ford Credit Floorpl 2025-1 34529BAA4 600,000 4.630% 04/15/30 100.6800 604,875 604,062 4.600% GM Financial Consumer 2025-2 362549AD9 600,000 4.280% 04/16/30 100.0400 601,266 600,246 4.280% Volkswagen Auto Loan 92867YAE4 700,000 5.570% 04/22/30 102.2100 717,309 715,449 5.450% Carmax Auto Owner Trust 2025-314290FAD8 650,000 4.530% 07/15/30 100.1500 649,866 650,995 4.520% Chase Issuance Tr 2025-1 161571HZ0 500,000 4.160% 07/15/30 99.8200 499,990 499,125 4.170% Subtotal Asset-Backed Securities 9,956,000 10,045,561 10,030,725 4.770% Grand Total 65,724,214 65,267,753 65,671,295 3.960% * Any new investments are italicized and marked with an asterisk to the right. Market Adj. (403,542) Estimated Income 2,600,390 Maturities Coupon Issuer CUSIP Par Value Rate Maturity Date Cost Sales/Calls Coupon Issuer CUSIP Par Value Rate Maturity Date Cost U.S. Treasury Notes 91282CHB0 1,335,000 3.625% 05/15/26 1,304,650 U.S. Treasury Notes 91282CFM8 2,900,000 4.125% 09/30/27 2,902,567 U.S. Treasury Notes 91282CHB0 2,645,000 3.625% 05/15/26 2,589,346 Federal Home Loan Banks 3130AUU36 1,490,000 4.125% 03/13/26 1,472,444 Procter & Gamble Co 742718FP9 657,000 1.000% 04/23/26 625,288 Schwab Charles Corp 808513BR5 687,000 1.150% 05/13/26 647,419 Bristol-Myers Squibb Co 110122DN5 654,000 0.750% 11/13/25 603,878 Berkshire Hathaway Inc Del 084670BS6 637,000 3.130% 03/15/26 618,494 Prudential Finl Inc 74432QCH6 327,000 1.500% 03/10/26 314,768 Home Depot Inc 437076BK7 631,000 3.350% 09/15/25 655,964 Disney Walt Co 254687FV 324,000 1.750% 01/13/26 300,018 Unitedhealth Group Inc Sr 91324PEP3 760,000 5.250% 02/15/28 778,752 Citibank N A 17325FBK 600,000 4.838% 08/06/29 612,612 Nvidia Corporation 67066GAE 640,000 3.200% 09/16/26 625,818 Bank New York Mellon Corp 06406RBJ5 644,000 4.414% 07/24/26 640,666 Abbvie Inc 00287YBF 500,000 4.250% 11/14/28 487,720 Chubb Ina Hldgs Inc 171239AL 325,000 4.650% 08/15/29 325,511 American Express Co 025816CW 250,000 4.050% 05/03/29 244,845 JPMorgan Chase & Co 46647PAR 500,000 4.005% 04/23/29 494,715 Comcast Corp New Sr Glbl Nt 20030NCA 350,000 3.150% 02/15/28 331,930Attachment No. 1 8

Yield Coupon or Issuer CUSIP Par Value Rate Maturity Date Price per Stmnt Cost Market Value YTW1 U.S. Treasury Notes 91282CKX 650,000 4.250% 06/30/29 645,760 U.S. Treasury Notes 91282CMY 1,300,000 3.750% 04/30/27 1,299,542 U.S. Treasury Notes 91282CMY 1,000,000 3.750% 04/30/27 999,648 U.S. Treasury Notes 91282CNL1 250,000 3.750% 06/30/27 249,395 U.S. Treasury Notes 91282CGQ 500,000 4.000% 02/28/30 500,703 U.S. Treasury Notes 91282CNL1 250,000 3.750% 06/30/27 249,395 U.S. Treasury Notes 91282CHQ 330,000 4.125% 07/31/28 329,381 U.S. Treasury Notes 91282CKX 1,350,000 4.250% 06/30/29 1,341,194 1 YTW was used in place of YTM for conservative approach to looking at the performance of the bonds. YTW considers the possibility to call the bonds if a call option is available, whereby the City's Investors may choose to call a bond to seek for better investments or to redeem the bond at ideal market conditions.Attachment No. 1 9

2016 Water Revenue Bonds Investment Issuer Settlement Par Value Coupon Market Value Current Maturity Days to CUSIP Type Date Rate YTM Date Maturity Account Number BNY Mellon Project Fund 1 Cash 92 0.000% 92 4.140% 1 2 Morgan Stanley Treasury Portfolio 180,748 0.000% 180,748 4.130% 1 Subtotal Cash & Cash Equivalents 180,839 0.000% 180,839 4.130% 1 Total Project Fund 180,839 0.000% 180,839 4.130% 1 Funds and Investments Exhibit B-2 July 31, 2025 Held by Contracted (Third) PartiesAttachment No. 1 10

MONTH FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 JULY 26,306,572 28,541,631 74,033,803 33,187,829 34,119,395 39,309,559 47,220,730 62,091,716 75,797,212 85,983,394 AUGUST 26,294,151 28,405,544 73,122,925 31,258,493 34,245,197 35,205,219 47,188,874 62,035,853 75,898,527 83,037,641 SEPTEMBER 22,058,959 27,049,892 70,952,657 31,219,168 34,211,588 35,108,138 50,651,612 62,025,768 72,673,251 80,118,760 OCTOBER 22,325,114 27,023,005 70,917,973 26,989,542 30,424,551 32,530,753 47,647,956 62,066,381 72,928,239 76,169,627 NOVEMBER 22,287,418 73,246,265 26,547,176 26,916,772 30,394,571 36,836,391 47,638,933 62,383,437 73,816,550 76,420,072 DECEMBER 22,253,300 71,499,585 28,949,643 27,028,835 30,398,333 36,824,546 51,976,067 62,346,272 74,622,956 76,407,420 JANUARY 27,399,997 71,229,735 32,878,042 35,305,506 30,183,446 43,433,939 56,735,289 63,037,830 75,026,715 76,850,520 FEBRUARY 30,108,605 71,084,575 33,013,420 34,571,287 35,784,459 43,636,405 44,768,920 62,673,423 74,572,924 77,422,529 MARCH 28,939,924 72,604,964 32,833,141 32,568,840 35,894,036 43,608,698 53,763,388 63,422,072 87,799,607 77,759,174 APRIL 28,276,276 75,018,330 33,064,100 32,242,202 36,081,161 42,158,002 53,442,475 63,662,118 87,625,460 98,378,689 MAY 28,429,928 76,053,277 32,879,674 36,925,478 34,133,626 42,180,215 53,637,240 75,814,301 88,603,229 98,061,069 JUNE 26,594,581 75,918,587 33,102,349 38,922,757 34,218,755 42,164,581 53,485,809 75,450,478 88,403,497 99,045,765 * Note: Invested funds based on Market Value at the end of month. Summary of Invested Funds -- Last Day of the Month Investment Report Exhibit C July 31, 2025Attachment No. 1 11

BMO - Operating ending 3688 5,839,019$ 31-Jul BMO - Workers Comp ending 1936 - 31-Jul * BMO - Gen Liab ending 2413 - 31-Jul * Total BMO (formerly Bank of the West) 5,839,019$ City of South Pasadena BMO Accounts Balance For July 2025 Investment ReportAttachment No. 1 12

FY 25-26 FY 24-25 July-24 8,450,685 July-24 7,645,811 August-24 August-24 4,783,899 September-24 September-24 6,767,908 October-24 October-24 3,775,587 November-24 November-24 3,601,173 December-24 December-24 8,175,123 January-25 January-25 5,479,803 February-25 February-25 4,680,967 March-25 March-25 4,639,530 April-25 April-25 3,868,851 May-25 May-25 4,129,366 June-25 June-25 29,777,782 8,450,685$ 87,325,799$ Avg per month 8,450,685 Avg per month 7,277,150 6 month actual projected 50,704,109$ 6 month actual projected 43,662,900$ FY 2024-25 Adopted Budget 113,562,429 Adopted 6 month 56,781,214 6 month Adopted Budget 56,781,214 6 month actual projected 52,333,232 * 4,447,982$ ** **Differences between projected average and projected adopted is due to unspent CIP funds Actual Expenditures Adopted Budget Difference between 6 month actual projected and 6 month adopted budget * Applying the 12-month CPI (Los Angeles, Long Beach, Anaheim) rate for the month of July 2025 (3.213%) . City of South Pasadena Projected Expenditures (Based off Prior Year Actuals) For July 2025 Investment Report Expenditures Six Months (Average of FY25-26 and projected 6 months)Attachment No. 1 13

Adopted Budget Expenditures Total CITY & CRA Expenditures FY 2024-25 (page 33 & 57) 113,562,429 Total FY 2024-25 Budget Expenditures 113,562,429 Six Months Estimated Expenditures FY 2024-25 56,781,214 *Used FY24-25 Budget until FY2025-26 is approved. City of South Pasadena Six Months Projected Expenditures (Adopted Budget) For July 2025 Investment ReportAttachment No. 1 14

Statement of Account July 1, 2025 Through July 31, 2025 South Pasadena Custody Account Number: 8048032 1414 Mission Street South Pasadena, CA 91030 City of South Pasadena with any questions concerning your account. Please contact your administrator - Confidential And Privileged Information Jacqueline Nowak Please Note: Our new address effective Monday, March 10, 2025 is as follows: 707 Wilshire Boulevard, Suite #5000 Los Angeles, CA 90017 ZIONS BANK.Attachment No. 1 15

Cash Reconciliation Income Principal Receipts Disbursements Sales Interest Dividends Other Receipts Collective Fund Earnings Transfers 0.00 22,463,957.51 0.00 326,024.51 0.00 771.37 0.00 5,775.28 0.00 0.00 0.00 0.00 Purchases Fees Other Disbursements Transfers 0.00 -21,461,595.34 0.00 0.00 0.00 -4,595.00 0.00 0.00 Total Receipts 0.00 22,796,528.67 Total Disbursements 0.00 -21,466,190.34 Net Cash Management 0.00 -1,330,338.33 Opening Balance July 1, 2025 $ 0.00 $ 0.00 Closing Balance July 31, 2025 $ 0.00 $ 0.00 July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Page 2Cash Reconciliation (2 col) - SUMCTB1Attachment No. 1 16

Portfolio Portfolio Summary Market Projected Current % Value Income Yield July 31, 2025 Cash & Equivalents 2.64% 1,735,214.36 68,841.42 3.97% Fixed Income 97.36% 63,936,080.85 2,531,502.43 3.96% Accrued Income Total Portfolio Total Market Value 100.00 % 65,671,295.21 2,600,343.85 3.96% 468,242.03 66,139,537.24 July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Page 3Port Sum and Hold w Accruals - ACRHLDAttachment No. 1 17

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Holdings Shares / PV Asset Description Price Market Est Ann Inc Yield Acc IncomeCost Money Market Funds - Taxable 1,735,214.36 Fidelity Gov Port III FCGXX 1,735,214.361,735,214.36 68,841.42 3.97%1.00 7,664.93 * * Sub Totals * * 1,735,214.361,735,214.36 68,841.42 3.97% 7,664.931,735,214.36 Corporate Bonds (30/360) 468,000 Amazon Com Inc 472,583.50471,651.63 21,294.00 4.51%100.98 3,509.354.550% 12/01/2027 650,000 Fifth Third Bk Cincinnati S 653,824.37654,394.00 32,285.50 4.94%100.59 16,413.304.967% 01/28/2028 300,000 National Rural Utils Coop Fi 302,485.31303,294.00 14,250.00 4.71%100.83 6,886.174.750% 02/07/2028 669,000 State Str Corp 647,272.41605,453.50 14,738.07 2.28%96.75 7,122.032.203% 02/07/2028 641,000 Comcast Corp New Sr Glbl Nt 623,106.49596,551.97 20,191.50 3.24%97.21 9,306.143.150% 02/15/2028 626,000 John Deere Capital 636,494.24633,365.96 30,674.00 4.82%101.68 12,595.194.900% 03/03/2028 300,000 Huntington National Bank MA 301,485.29301,917.00 14,613.00 4.85%100.50 4,408.394.871% 04/12/2028 657,000 General Dynamics Corp 651,075.02642,077.44 24,637.50 3.78%99.10 5,161.493.750% 05/15/2028 650,000 Truist Finl Corp 646,623.80647,159.50 26,799.50 4.14%99.48 4,042.384.123% 06/06/2028 250,000 Morgan Stanley Private Bk NA 249,834.77250,000.00 11,165.00 4.47%99.93 280.684.466% 07/06/2028 612,000 John Deere Capital Corp 625,630.38617,748.72 30,294.00 4.84%102.23 1,353.924.950% 07/14/2028 250,000 Truist Bk 249,626.19250,000.00 11,050.00 4.43%99.85 185.204.420% 07/24/2028 625,000 Abbvie Inc 625,054.48615,752.20 26,562.50 4.25%100.01 5,638.974.250% 11/14/2028 615,000 Texas Instrs Inc Sr Glbl Nt 622,511.86610,233.75 28,290.00 4.54%101.22 13,591.844.600% 02/08/2029 620,000 Waste Mgmt Inc Del 632,362.32624,310.40 30,225.00 4.78%101.99 13,930.524.875% 02/15/2029 629,000 Marsh & McLennan Cos Inc 629,824.10615,935.67 27,518.75 4.37%100.13 10,377.184.375% 03/15/2029 700,000 Morgan Stanley 708,478.53708,904.00 34,958.00 4.93%101.21 10,057.754.994% 04/12/2029 700,000 Goldman Sachs Group Inc 686,853.41688,114.00 26,698.00 3.89%98.12 7,233.823.814% 04/23/2029 645,000 Jpmorgan Chase & Co 637,758.26637,700.85 25,832.25 4.05%98.88 6,999.244.005% 04/23/2029 700,000 Wells Fargo & Co 708,076.43709,128.00 34,790.00 4.91%101.15 9,426.344.970% 04/23/2029 650,000 American Express Co 646,690.19636,597.00 26,325.00 4.07%99.49 6,397.424.050% 05/03/2029 300,000 PNC Finl Svcs Group Inc 309,257.12309,705.00 16,746.00 5.41%103.09 2,245.275.582% 06/12/2029 265,000 American Express Co 264,416.33265,000.00 11,530.15 4.36%99.78 161.044.351% 07/20/2029 655,000 Citibank NA 665,790.03668,768.10 31,688.90 4.76%101.65 15,401.874.838% 08/06/2029 Page 4Port Sum and Hold w Accruals - ACRHLDAttachment No. 1 18

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Holdings Shares / PV Asset Description Price Market Est Ann Inc Yield Acc IncomeCost 650,000 Chubb Ina Hldgs Inc 658,297.78653,022.50 30,225.00 4.59%101.28 13,930.524.650% 08/15/2029 769,000 Bank America Corp 798,728.85791,670.12 44,748.11 5.60%103.87 16,874.295.819% 09/15/2029 725,000 Gilead Sciences Inc 736,261.57730,328.75 34,800.00 4.73%101.55 7,290.504.800% 11/15/2029 650,000 Bank New York Mellon Corp 663,425.28662,824.50 32,337.50 4.87%102.07 12,284.644.975% 03/14/2030 * * Sub Totals * * 16,053,828.3115,901,608.56 715,267.23 4.46% 223,105.4515,971,000 Municipal Bonds Taxable 700,000 Los Angeles CA Uni Sch 699,419.00700,000.00 30,429.00 4.35%99.92 1,784.944.347% 10/01/2029 * * Sub Totals * * 699,419.00700,000.00 30,429.00 4.35% 1,784.94700,000 U.S. Obligations 1,875,000 Federal Home Loan Banks 1,880,477.211,871,897.25 75,000.00 3.99%100.29 10,684.364.000% 06/09/2028 * * Sub Totals * * 1,880,477.211,871,897.25 75,000.00 3.99% 10,684.361,875,000 U.S. Treasury Notes & Bonds 1,363,000 U S Treasury Notes 1,356,882.471,341,552.81 49,408.75 3.64%99.55 10,338.243.625% 05/15/2026 4,072,000 U S Treasury Notes 3,926,139.703,815,783.18 30,540.00 0.78%96.42 12,697.340.750% 08/31/2026 1,632,000 United States Treas Nts 1,625,306.251,631,425.54 61,200.00 3.77%99.59 15,300.003.750% 04/30/2027 2,145,000 United States Treas Nts 2,136,621.092,139,805.08 80,437.50 3.76%99.61 6,775.993.750% 06/30/2027 963,000 U S Treasury Notes 966,912.19973,983.90 39,723.75 4.11%100.41 13,241.254.125% 09/30/2027 3,062,000 U S Treasury Notes 3,032,336.883,027,332.26 107,170.00 3.53%99.03 0.003.500% 01/31/2028 4,400,000 U S Treasury Notes 4,353,937.504,261,865.80 154,000.00 3.54%98.95 38,500.003.500% 04/30/2028 4,542,000 U S Treasury Notes 4,571,097.194,571,855.73 187,357.50 4.10%100.64 0.004.125% 07/31/2028 3,602,000 U S Treasury Notes 3,583,427.193,553,228.96 135,075.00 3.77%99.48 11,378.603.750% 12/31/2028 2,506,000 U S Treasury Nts 2,535,073.512,501,953.36 106,505.00 4.20%101.16 8,971.894.250% 06/30/2029 2,300,000 U S Treasury Notes 2,305,660.162,303,233.80 92,000.00 3.99%100.25 38,250.004.000% 02/28/2030 2,250,000 U S Treasury Notes 2,242,529.302,248,769.25 87,187.50 3.89%99.67 21,796.883.875% 04/30/2030 2,325,000 United States Treas Nts 2,316,099.622,326,999.81 90,093.75 3.89%99.62 7,589.423.875% 06/30/2030 * * Sub Totals * * 34,952,023.0534,697,789.48 1,220,698.75 3.49% 184,839.6135,162,000 Page 5Port Sum and Hold w Accruals - ACRHLDAttachment No. 1 19

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Holdings Shares / PV Asset Description Price Market Est Ann Inc Yield Acc IncomeCost Asset-Backed Securities 700,000 Ford Credit Auto Lease Tr 698,551.00699,913.76 29,610.00 4.24%99.79 2,467.504.230% 12/15/2028 700,000 Ford Credit Auto 713,811.00715,558.59 38,430.00 5.38%101.97 3,202.505.490% 05/15/2029 700,000 Gm Financial Consumer 2024-1 706,650.00707,109.38 34,020.00 4.81%100.95 2,835.004.860% 06/18/2029 650,000 Santander Drive Auto 2025-2 651,664.00652,996.09 30,355.00 4.66%100.26 2,529.584.670% 08/15/2029 200,000 Ally Auto Receivables 2024-1 202,148.00202,296.88 9,880.00 4.89%101.07 823.334.940% 10/15/2029 650,000 World Omni Auto Receivables 655,330.00656,728.52 32,695.00 4.99%100.82 2,724.585.030% 11/15/2029 371,000 Verizon Master Tr 2023-7 376,813.57377,405.55 21,035.70 5.58%101.57 1,752.985.670% 11/20/2029 600,000 Carmax Auto Owner Trust 202 606,354.00606,820.31 29,040.00 4.79%101.06 2,420.004.840% 01/15/2030 650,000 Santander Drive Auto Rcvbl 649,454.00649,908.74 28,470.00 4.38%99.92 2,372.504.380% 01/15/2030 430,000 Honda Auto Rec Own Tr 2023-4 438,600.00438,902.34 24,338.00 5.55%102.00 2,028.175.660% 02/21/2030 600,000 Carmax Auto Owner Tr 2025-2 601,698.00603,679.69 26,880.00 4.47%100.28 2,240.004.480% 03/15/2030 655,000 World Omni Auto Rec Tr 2025 659,774.95660,935.94 30,981.50 4.70%100.73 2,581.794.730% 03/15/2030 600,000 Ford Credit Floorpl 2025-1 604,062.00604,875.00 27,780.00 4.60%100.68 2,315.004.630% 04/15/2030 600,000 Gm Financial Consumer 2025-2 600,246.00601,265.63 25,680.00 4.28%100.04 2,140.004.280% 04/16/2030 700,000 Volkswagen Auto Loan 715,449.00717,308.59 38,990.00 5.45%102.21 3,249.175.570% 04/22/2030 650,000 Carmax Auto Owner Trust 2025 650,994.50649,866.43 29,445.00 4.52%100.15 2,453.754.530% 07/15/2030 500,000 Chase Issuance Tr 2025-1 499,124.55499,989.95 20,800.00 4.17%99.82 1,733.334.160% 07/15/2030 * * Sub Totals * * 10,030,724.5710,045,561.39 478,430.20 4.77% 39,869.189,956,000 Corp Floating Rate (Act/360) 325,000 Bank of America Corp 319,608.71315,682.25 11,677.25 3.65%98.34 293.563.593% 07/21/2028 * * Sub Totals * * 319,608.71315,682.25 11,677.25 3.65% 293.56325,000 Page 6Port Sum and Hold w Accruals - ACRHLDAttachment No. 1 20

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Holdings Shares / PV Asset Description Price Market Est Ann Inc Yield Acc IncomeCost * * Grand Totals * * 65,671,295.2165,267,753.29 3.96%2,600,343.85 Cash Summary 468,242.0365,724,214.36 0.00 0.00 0.00 Principal Cash Income Cash Invested Income Page 7Port Sum and Hold w Accruals - ACRHLDAttachment No. 1 21

Account Transactions Date Description Income Principal Carrying Value Starting Balances $ 0.00$ 0.00 $ 64,668,088.56 Interest 6,180.72Accrued Interest Received07/01/2025 U S Treasury Notes 3.6250% 05/15/26 -140.57Purchase Accrued Interest07/01/2025 United States Treas Nts 3.8750% 06/30/30 32,030.74Accrued Interest Received07/07/2025 U S Treasury Notes 4.1250% 09/30/27 -729.72Purchase Accrued Interest07/07/2025 United States Treas Nts 3.8750% 06/30/30 -1,886.72Purchase Accrued Interest07/07/2025 United States Treas Nts 3.7500% 06/30/27 13,808.98Accrued Interest Received07/07/2025 U S Treasury Notes 3.6250% 05/15/26 19,463.13Accrued Interest Received07/07/2025 Federal Home Loan Banks 4.1250% 03/13/26 1,350.50Accrued Interest Received07/07/2025 Procter & Gamble Co 1.0000% 04/23/26 1,185.08Accrued Interest Received07/07/2025 Schwab Charles Corp 1.1500% 05/13/26 735.75Accrued Interest Received07/07/2025 Bristol-Myers Squibb Co 0.7500% 11/13/25 6,193.06Accrued Interest Received07/07/2025 Berkshire Hathaway Inc Del 3.1250% 03/15/26 1,594.13Accrued Interest Received07/07/2025 Prudential Finl Inc 1.5000% 03/10/26 6,576.42Accrued Interest Received07/07/2025 Home Depot Inc 3.3500% 09/15/25 2,740.50Accrued Interest Received07/07/2025 Disney Walt Co 1.7500% 01/13/26 15,738.33Accrued Interest Received07/07/2025 Unitedhealth Group Inc Sr 5.2500% 02/15/28 12,175.63Accrued Interest Received07/07/2025 Citibank NA 4.8380% 08/06/29 July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Page 8Transactions (3 col) - TRNTNT8Attachment No. 1 22

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value 6,314.67Accrued Interest Received07/07/2025 Nvidia Corp 3.2000% 09/16/26 12,870.73Accrued Interest Received07/07/2025 Bank New York Mellon Corp 4.4140% 07/24/26 3,128.47Accrued Interest Received07/07/2025 Abbvie Inc 4.2500% 11/14/28 5,961.04Accrued Interest Received07/07/2025 Chubb Ina Hldgs Inc 4.6500% 08/15/29 -5,937.50Purchase Accrued Interest07/07/2025 National Rural Utils Coop Fin 4.75% 02/07/28 1,800.00Accrued Interest Received07/07/2025 American Express Co 4.0500% 05/03/29 4,116.25Accrued Interest Received07/07/2025 Jpmorgan Chase & Co 4.0050% 04/23/29 -1,162.92Purchase Accrued Interest07/07/2025 PNC Finl Svcs Group Inc 5.5820% 06/12/29 -3,450.29Purchase Accrued Interest07/07/2025 Huntington National Bank MA 4.8710% 04/12/28 -7,151.28Purchase Accrued Interest07/07/2025 Wells Fargo & Co 4.9700% 04/23/29 4,348.75Accrued Interest Received07/07/2025 Comcast Corp New Sr Glbl Nt 3.1500% 02/15/28 -5,487.92Purchase Accrued Interest07/07/2025 Goldman Sachs Group Inc 3.8140% 04/23/29 -7,768.44Purchase Accrued Interest07/07/2025 Morgan Stanley 4.9940% 04/12/29 -1,642.67Purchase Accrued Interest07/07/2025 Carmax Auto Owner Tr 2025-2 4.4800% 03/15/30 -1,984.50Purchase Accrued Interest07/07/2025 Gm Financial Consumer 2024-1 4.8600% 06/18/29 -2,348.50Purchase Accrued Interest07/07/2025 Ford Credit Auto 5.4900% 05/15/29 -1,841.19Purchase Accrued Interest07/07/2025 Volkswagen Auto Loan 5.5700% 04/22/30 -603.78Purchase Accrued Interest07/07/2025 Ally Auto Receivables 2024-1 4.9400% 10/15/29 Page 9Transactions (3 col) - TRNTNT8Attachment No. 1 23

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value -1,979.37Purchase Accrued Interest07/08/2025 World Omni Auto Rec Tr 2025 4.7300% 03/15/30 -1,569.33Purchase Accrued Interest07/08/2025 Gm Financial Consumer 2025-2 4.2800% 04/16/30 -1,051.79Purchase Accrued Interest07/08/2025 Verizon Master Tr 2023-7 5.6700% 11/20/29 -1,939.35Purchase Accrued Interest07/08/2025 Santander Drive Auto 2025-2 4.6700% 08/15/29 -2,270.49Purchase Accrued Interest07/10/2025 World Omni Auto Receivables Tr 5.03% 11/15/29 -346.52Purchase Accrued Interest07/10/2025 Honda Auto Rec Own Tr 2023-4 5.6600% 02/21/30 -937.99Purchase Accrued Interest07/10/2025 Honda Auto Rec Own Tr 2023-4 5.6600% 02/21/30 825.75Accrued Interest Received07/11/2025 U S Treasury Nts 4.2500% 06/30/29 9,538.04Accrued Interest Received07/11/2025 United States Treas Nts 3.7500% 04/30/27 7,336.96Accrued Interest Received07/11/2025 United States Treas Nts 3.7500% 04/30/27 -10,509.69Purchase Accrued Interest07/11/2025 Bank New York Mellon Corp 4.9750% 03/14/30 -14,618.16Purchase Accrued Interest07/11/2025 Fifth Third Bk Cincinnati S 4.9670% 01/28/28 -2,006.33Purchase Accrued Interest07/11/2025 Ford Credit Floorpl 2025-1 4.6300% 04/15/30 -2,605.51Purchase Accrued Interest07/11/2025 Truist Finl Corp 4.1230% 06/06/28 -2,097.33Purchase Accrued Interest07/11/2025 Carmax Auto Owner Trust 202 4.8400% 01/15/30 15,147.00Interest07/14/2025 John Deere Capital Corp 4.9500% 07/14/28 823.33Mortgage Backed - Other Pass Through Interest07/15/2025 Ally Auto Receivables 2024-1 4.9400% 10/15/29 Principal Balance Reduction of 0.000000 2,420.00Mortgage Backed - Other Pass Through Interest07/15/2025 Page 10Transactions (3 col) - TRNTNT8Attachment No. 1 24

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value Carmax Auto Owner Trust 202 4.8400% 01/15/30 Principal Balance Reduction of 0.000000 2,240.00Mortgage Backed - Other Pass Through Interest07/15/2025 Carmax Auto Owner Tr 2025-2 4.4800% 03/15/30 Principal Balance Reduction of 0.000000 3,202.50Mortgage Backed - Other Pass Through Interest07/15/2025 Ford Credit Auto 5.4900% 05/15/29 Principal Balance Reduction of 0.000000 2,315.00Mortgage Backed - Other Pass Through Interest07/15/2025 Ford Credit Floorpl 2025-1 4.6300% 04/15/30 Principal Balance Reduction of 0.000000 2,529.58Mortgage Backed - Other Pass Through Interest07/15/2025 Santander Drive Auto 2025-2 4.6700% 08/15/29 Principal Balance Reduction of 0.000000 2,724.58Mortgage Backed - Other Pass Through Interest07/15/2025 World Omni Auto Receivables Tr 5.03% 11/15/29 Principal Balance Reduction of 0.000000 2,581.79Mortgage Backed - Other Pass Through Interest07/15/2025 World Omni Auto Rec Tr 2025 4.7300% 03/15/30 Principal Balance Reduction of 0.000000 2,140.00Mortgage Backed - Other Pass Through Interest07/16/2025 Gm Financial Consumer 2025-2 4.2800% 04/16/30 Principal Balance Reduction of 0.000000 2,835.00Mortgage Backed - Other Pass Through Interest07/16/2025 Gm Financial Consumer 2024-1 4.8600% 06/18/29 Principal Balance Reduction of 0.000000 458.56Accrued Interest Received07/18/2025 United States Treas Nts 3.7500% 06/30/27 7,771.74Accrued Interest Received07/21/2025 U S Treasury Notes 4.0000% 02/28/30 5,838.63Interest07/21/2025 Bank of America Corp 3.5930% 07/21/28 2,028.17Mortgage Backed - Other Pass Through Interest07/21/2025 Honda Auto Rec Own Tr 2023-4 5.6600% 02/21/30 Principal Balance Reduction of 0.000000 1,752.97Mortgage Backed - Other Pass Through Interest07/21/2025 Verizon Master Tr 2023-7 5.6700% 11/20/29 Page 11Transactions (3 col) - TRNTNT8Attachment No. 1 25

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value Verizon Master Tr 2023-7 5.6700% 11/20/29 Principal Balance Reduction of 0.000000 3,249.17Mortgage Backed - Other Pass Through Interest07/21/2025 Volkswagen Auto Loan 5.5700% 04/22/30 Principal Balance Reduction of 0.000000 560.46Accrued Interest Received07/22/2025 United States Treas Nts 3.7500% 06/30/27 6,467.82Accrued Interest Received07/22/2025 U S Treasury Notes 4.1250% 07/31/28 3,585.94Accrued Interest Received07/23/2025 U S Treasury Nts 4.2500% 06/30/29 16,142.75Interest07/29/2025 Fifth Third Bk Cincinnati S 4.9670% 01/28/28 53,585.00Interest07/31/2025 U S Treasury Notes 3.5000% 01/31/28 93,678.75Interest07/31/2025 U S Treasury Notes 4.1250% 07/31/28 326,024.510.00Sub Total 0.00 Dividends 771.37Dividend07/01/2025 Fidelity Gov Port III FCGXX Dividend From 06/01/2025 To 06/30/2025 771.370.00Sub Total 0.00 Buys -1,339,745.51Buy07/01/2025 1,339,745.51 United States Treas Nts 3.8750% 06/30/30 1335000 Par Val @ $100.3554687 -987,254.30Buy07/07/2025 987,254.30 United States Treas Nts 3.8750% 06/30/30 990000 Par Val @ $99.72265625 -2,638,594.14Buy07/07/2025 2,638,594.14 United States Treas Nts 3.7500% 06/30/27 2645000 Par Val @ $99.7578125 Page 12Transactions (3 col) - TRNTNT8Attachment No. 1 26

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value -303,294.00Buy07/07/2025 303,294.00 National Rural Utils Coop Fin 4.75% 02/07/28 300000 Par Val @ $101.098 -309,705.00Buy07/07/2025 309,705.00 PNC Finl Svcs Group Inc 5.5820% 06/12/29 300000 Par Val @ $103.235 -301,917.00Buy07/07/2025 301,917.00 Huntington National Bank MA 4.8710% 04/12/28 300000 Par Val @ $100.639 -709,128.00Buy07/07/2025 709,128.00 Wells Fargo & Co 4.9700% 04/23/29 700000 Par Val @ $101.304 -688,114.00Buy07/07/2025 688,114.00 Goldman Sachs Group Inc 3.8140% 04/23/29 700000 Par Val @ $98.302 -708,904.00Buy07/07/2025 708,904.00 Morgan Stanley 4.9940% 04/12/29 700000 Par Val @ $101.272 -603,679.69Buy07/07/2025 603,679.69 Carmax Auto Owner Tr 2025-2 4.4800% 03/15/30 600000 Par Val @ $100.613281 -707,109.38Buy07/07/2025 707,109.38 Gm Financial Consumer 2024-1 4.8600% 06/18/29 700000 Par Val @ $101.015625 -715,558.59Buy07/07/2025 715,558.59 Ford Credit Auto 5.4900% 05/15/29 700000 Par Val @ $102.2226562 -717,308.59Buy07/07/2025 717,308.59 Volkswagen Auto Loan 5.5700% 04/22/30 700000 Par Val @ $102.472656 -202,296.88Buy07/07/2025 202,296.88 Ally Auto Receivables 2024-1 4.9400% 10/15/29 200000 Par Val @ $101.1484375 -660,935.94Buy07/08/2025 660,935.94 World Omni Auto Rec Tr 2025 4.7300% 03/15/30 655000 Par Val @ $100.90625 Page 13Transactions (3 col) - TRNTNT8Attachment No. 1 27

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value -601,265.63Buy07/08/2025 601,265.63 Gm Financial Consumer 2025-2 4.2800% 04/16/30 600000 Par Val @ $100.210938 -377,405.55Buy07/08/2025 377,405.55 Verizon Master Tr 2023-7 5.6700% 11/20/29 371000 Par Val @ $101.7265625 -652,996.09Buy07/08/2025 652,996.09 Santander Drive Auto 2025-2 4.6700% 08/15/29 650000 Par Val @ $100.460938 -700,000.00Buy07/09/2025 700,000.00 Los Angeles CA Uni Sch 4.3470% 10/01/29 700000 Par Val @ $100.00 -656,728.52Buy07/10/2025 656,728.52 World Omni Auto Receivables Tr 5.03% 11/15/29 650000 Par Val @ $101.0351562 -118,401.56Buy07/10/2025 118,401.56 Honda Auto Rec Own Tr 2023-4 5.6600% 02/21/30 116000 Par Val @ $102.070313 -320,500.78Buy07/10/2025 320,500.78 Honda Auto Rec Own Tr 2023-4 5.6600% 02/21/30 314000 Par Val @ $102.0703121 -662,824.50Buy07/11/2025 662,824.50 Bank New York Mellon Corp 4.9750% 03/14/30 650000 Par Val @ $101.973 -654,394.00Buy07/11/2025 654,394.00 Fifth Third Bk Cincinnati S 4.9670% 01/28/28 650000 Par Val @ $100.676 -604,875.00Buy07/11/2025 604,875.00 Ford Credit Floorpl 2025-1 4.6300% 04/15/30 600000 Par Val @ $100.8125 -647,159.50Buy07/11/2025 647,159.50 Truist Finl Corp 4.1230% 06/06/28 650000 Par Val @ $99.563 -606,820.31Buy07/11/2025 606,820.31 Carmax Auto Owner Trust 202 4.8400% 01/15/30 600000 Par Val @ $101.1367188 Page 14Transactions (3 col) - TRNTNT8Attachment No. 1 28

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value -250,000.00Buy07/21/2025 250,000.00 Morgan Stanley Private Bk NA 4.4660% 07/06/28 250000 Par Val @ $100.00 -649,866.43Buy07/23/2025 649,866.43 Carmax Auto Owner Trust 2025-3 4.53% 07/15/30 650000 Par Val @ $99.97945 -250,000.00Buy07/24/2025 250,000.00 Truist Bk 4.4200% 07/24/28 250000 Par Val @ $100.00 -265,000.00Buy07/25/2025 265,000.00 American Express Co 4.3510% 07/20/29 265000 Par Val @ $100.00 -499,989.95Buy07/25/2025 499,989.95 Chase Issuance Tr 2025-1 4.1600% 07/15/30 500000 Par Val @ $99.99799 -699,913.76Buy07/29/2025 699,913.76 Ford Credit Auto Lease Tr 4.2300% 12/15/28 700000 Par Val @ $99.98768 -649,908.74Buy07/30/2025 649,908.74 Santander Drive Auto Rcvbl 4.3800% 01/15/30 650000 Par Val @ $99.98596 -21,461,595.340.00Sub Total 21,461,595.34 Sells 1,330,202.34Sell07/01/2025 -1,308,152.24 U S Treasury Notes 3.6250% 05/15/26 Sold 1335000 Par Val @ $99.640625 Cost Basis Removed $1,304,650.11 Long Term Gain/Loss : $25,552.23 2,916,312.50Sell07/07/2025 -2,910,173.12 U S Treasury Notes 4.1250% 09/30/27 Sold 2900000 Par Val @ $100.5625 Cost Basis Removed $2,902,567.40 Long Term Gain/Loss : $13,745.10 2,633,841.41Sell07/07/2025 -2,591,807.25 U S Treasury Notes 3.6250% 05/15/26 Page 15Transactions (3 col) - TRNTNT8Attachment No. 1 29

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value Sold 2645000 Par Val @ $99.578125 Cost Basis Removed $2,589,345.71 Short Term Gain/Loss : $8,526.49 Long Term Gain/Loss : $35,969.21 1,488,748.40Sell07/07/2025 -1,472,444.30 Federal Home Loan Banks 4.1250% 03/13/26 Sold 1490000 Par Val @ $99.916 Cost Basis Removed $1,472,444.30 Long Term Gain/Loss : $16,304.10 640,233.36Sell07/07/2025 -625,287.88 Procter & Gamble Co 1.0000% 04/23/26 Sold 657000 Par Val @ $97.448 Cost Basis Removed $625,287.88 Long Term Gain/Loss : $14,945.48 668,567.79Sell07/07/2025 -647,419.02 Schwab Charles Corp 1.1500% 05/13/26 Sold 687000 Par Val @ $97.317 Cost Basis Removed $647,419.02 Long Term Gain/Loss : $21,148.77 645,452.22Sell07/07/2025 -603,877.50 Bristol-Myers Squibb Co 0.7500% 11/13/25 Sold 654000 Par Val @ $98.693 Cost Basis Removed $603,877.50 Long Term Gain/Loss : $41,574.72 632,146.06Sell07/07/2025 -618,494.37 Berkshire Hathaway Inc Del 3.1250% 03/15/26 Sold 637000 Par Val @ $99.238 Cost Basis Removed $618,494.37 Long Term Gain/Loss : $13,651.69 320,646.39Sell07/07/2025 -314,767.91 Prudential Finl Inc 1.5000% 03/10/26 Sold 327000 Par Val @ $98.057 Cost Basis Removed $314,767.91 Long Term Gain/Loss : $5,878.48 629,649.66Sell07/07/2025 -654,811.12 Home Depot Inc 3.3500% 09/15/25 Sold 631000 Par Val @ $99.786 Page 16Transactions (3 col) - TRNTNT8Attachment No. 1 30

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value Cost Basis Removed $655,963.94 Long Term Gain/Loss : $-26,314.28 319,551.48Sell07/07/2025 -300,017.52 Disney Walt Co 1.7500% 01/13/26 Sold 324000 Par Val @ $98.627 Cost Basis Removed $300,017.52 Long Term Gain/Loss : $19,533.96 778,642.80Sell07/07/2025 -778,752.24 Unitedhealth Group Inc Sr 5.2500% 02/15/28 Sold 760000 Par Val @ $102.453 Cost Basis Removed $778,752.24 Long Term Gain/Loss : $-109.44 611,472.00Sell07/07/2025 -612,612.00 Citibank NA 4.8380% 08/06/29 Sold 600000 Par Val @ $101.912 Cost Basis Removed $612,612.00 Short Term Gain/Loss : $-1,140.00 633,459.20Sell07/07/2025 -625,817.60 Nvidia Corp 3.2000% 09/16/26 Sold 640000 Par Val @ $98.978 Cost Basis Removed $625,817.60 Short Term Gain/Loss : $7,641.60 643,735.96Sell07/07/2025 -640,665.80 Bank New York Mellon Corp 4.4140% 07/24/26 Sold 644000 Par Val @ $99.959 Cost Basis Removed $640,665.80 Short Term Gain/Loss : $23.25 Long Term Gain/Loss : $3,046.91 501,040.00Sell07/07/2025 -490,432.09 Abbvie Inc 4.2500% 11/14/28 Sold 500000 Par Val @ $100.208 Cost Basis Removed $487,720.00 Long Term Gain/Loss : $13,320.00 329,481.75Sell07/07/2025 -326,511.25 Chubb Ina Hldgs Inc 4.6500% 08/15/29 Sold 325000 Par Val @ $101.379 Cost Basis Removed $326,511.25 Page 17Transactions (3 col) - TRNTNT8Attachment No. 1 31

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value Short Term Gain/Loss : $2,970.50 249,455.00Sell07/07/2025 -244,845.00 American Express Co 4.0500% 05/03/29 Sold 250000 Par Val @ $99.782 Cost Basis Removed $244,845.00 Short Term Gain/Loss : $4,610.00 494,560.00Sell07/07/2025 -494,504.74 Jpmorgan Chase & Co 4.0050% 04/23/29 Sold 500000 Par Val @ $98.912 Cost Basis Removed $494,715.00 Short Term Gain/Loss : $-155.00 340,504.50Sell07/07/2025 -327,919.79 Comcast Corp New Sr Glbl Nt 3.1500% 02/15/28 Sold 350000 Par Val @ $97.287 Cost Basis Removed $331,929.50 Long Term Gain/Loss : $8,575.00 658,480.47Sell07/11/2025 -647,534.35 U S Treasury Nts 4.2500% 06/30/29 Sold 650000 Par Val @ $101.3046877 Cost Basis Removed $645,760.05 Long Term Gain/Loss : $12,720.42 1,296,394.53Sell07/11/2025 -1,299,542.40 United States Treas Nts 3.7500% 04/30/27 Sold 1300000 Par Val @ $99.72265625 Cost Basis Removed $1,299,542.40 Short Term Gain/Loss : $-3,147.87 997,382.81Sell07/11/2025 -999,648.00 United States Treas Nts 3.7500% 04/30/27 Sold 1000000 Par Val @ $99.738281 Cost Basis Removed $999,648.00 Short Term Gain/Loss : $-2,265.19 249,248.05Sell07/18/2025 -249,394.53 United States Treas Nts 3.7500% 06/30/27 Sold 250000 Par Val @ $99.69922 Cost Basis Removed $249,394.53 Short Term Gain/Loss : $-146.48 501,582.03Sell07/21/2025 -500,703.00 U S Treasury Notes 4.0000% 02/28/30 Page 18Transactions (3 col) - TRNTNT8Attachment No. 1 32

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value U S Treasury Notes 4.0000% 02/28/30 Sold 500000 Par Val @ $100.3164063 Cost Basis Removed $500,703.00 Short Term Gain/Loss : $879.03 249,531.25Sell07/22/2025 -249,394.53 United States Treas Nts 3.7500% 06/30/27 Sold 250000 Par Val @ $99.8125 Cost Basis Removed $249,394.53 Short Term Gain/Loss : $136.72 333,016.41Sell07/22/2025 -331,980.34 U S Treasury Notes 4.1250% 07/31/28 Sold 330000 Par Val @ $100.9140636 Cost Basis Removed $329,381.25 Long Term Gain/Loss : $3,635.16 1,370,619.14Sell07/23/2025 -1,344,879.04 U S Treasury Nts 4.2500% 06/30/29 Sold 1350000 Par Val @ $101.5273437 Cost Basis Removed $1,341,193.95 Long Term Gain/Loss : $29,425.19 22,463,957.510.00Sub Total -22,212,388.93 Disbursements -4,595.00Cash Disbursement07/09/2025 Miscellaneous Disbursement Paid To : Payden & Rygel Per Sec. 9 of the Custody Agreement Invoice for Investment Advisory Services Inv#2533-M625 dtd 07- 08-25 -4,595.000.00Sub Total 0.00 Receipts 5,775.28Cash Deposit07/18/2025 Miscellaneous Receipt Termination Rebate from Clearbridge (Franklin Templeton/Legg Mason) 5,775.280.00Sub Total 0.00 Page 19Transactions (3 col) - TRNTNT8Attachment No. 1 33

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value Cash Management 2,731.65Sweep - Sell07/01/2025 -2,731.65 Fidelity Gov Port III FCGXX Sold 2731.65 Par Val @ $1.00 -5,994,773.64Sweep - Buy07/07/2025 5,994,773.64 Fidelity Gov Port III FCGXX 5994773.64 Par Val @ $1.00 2,299,143.05Sweep - Sell07/08/2025 -2,299,143.05 Fidelity Gov Port III FCGXX Sold 2299143.05 Par Val @ $1.00 704,595.00Sweep - Sell07/09/2025 -704,595.00 Fidelity Gov Port III FCGXX Sold 704595 Par Val @ $1.00 1,099,185.86Sweep - Sell07/10/2025 -1,099,185.86 Fidelity Gov Port III FCGXX Sold 1099185.86 Par Val @ $1.00 237,951.77Sweep - Sell07/11/2025 -237,951.77 Fidelity Gov Port III FCGXX Sold 237951.77 Par Val @ $1.00 -15,147.00Sweep - Buy07/14/2025 15,147.00 Fidelity Gov Port III FCGXX 15147 Par Val @ $1.00 -18,836.78Sweep - Buy07/15/2025 18,836.78 Fidelity Gov Port III FCGXX 18836.78 Par Val @ $1.00 -4,975.00Sweep - Buy07/16/2025 4,975.00 Fidelity Gov Port III FCGXX 4975 Par Val @ $1.00 -255,481.89Sweep - Buy07/18/2025 255,481.89 Fidelity Gov Port III FCGXX 255481.89 Par Val @ $1.00 -272,222.71Sweep - Buy07/21/2025 272,222.71 Fidelity Gov Port III FCGXX 272222.71 Par Val @ $1.00 -589,575.94Sweep - Buy07/22/2025 589,575.94 Fidelity Gov Port III FCGXX Page 20Transactions (3 col) - TRNTNT8Attachment No. 1 34

July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Account Transactions Date Description Income Principal Carrying Value Fidelity Gov Port III FCGXX 589575.94 Par Val @ $1.00 -724,338.65Sweep - Buy07/23/2025 724,338.65 Fidelity Gov Port III FCGXX 724338.65 Par Val @ $1.00 250,000.00Sweep - Sell07/24/2025 -250,000.00 Fidelity Gov Port III FCGXX Sold 250000 Par Val @ $1.00 764,989.95Sweep - Sell07/25/2025 -764,989.95 Fidelity Gov Port III FCGXX Sold 764989.95 Par Val @ $1.00 683,771.01Sweep - Sell07/29/2025 -683,771.01 Fidelity Gov Port III FCGXX Sold 683771.01 Par Val @ $1.00 649,908.74Sweep - Sell07/30/2025 -649,908.74 Fidelity Gov Port III FCGXX Sold 649908.74 Par Val @ $1.00 -147,263.75Sweep - Buy07/31/2025 147,263.75 Fidelity Gov Port III FCGXX 147263.75 Par Val @ $1.00 -1,330,338.330.00Sub Total 1,330,338.33 Ending Balances $ 0.00$ 0.00 $ 65,247,633.30 Page 21Transactions (3 col) - TRNTNT8Attachment No. 1 35

Corporate Trust Services provided by Zions Bancorporation, N.A. Statement Disclosures & Other Important Information Please review your statement promptly and report any discrepancies immediately to your account administrator listed on the first page. Market value information (including accrued income) furnished herein has been obtained from sources that Zions Bancorporation, N.A. believes to be reliable. Zions Bancorporation, N.A. makes no representation, warranty or guarantee, express or implied, that any quoted value necessarily reflects the proceeds that may be received on the sale of a security or asset. Securities and asset prices may vary from actual liquidation value and should only be used as general guide to portfolio value. Prices are received from various pricing services. However, pricing services are sometimes unable to provide timely information. Where pricing sources are not readily available, particularly on certain debt securities, estimated prices may be generated by a matrix system taking various factors into consideration. Securities, including mutual funds, are not bank deposits and are not FDIC insured, nor are they obligations of or guaranteed by Zions Bancorporation, N.A., its affiliates or of any federal or state government or government sponsored agency. Securities, including mutual funds, involve investment risks, including the possible loss of the principal amount invested. July 01, 2025 through July 31, 2025 Account Name : South Pasadena Custody Account No : 8048032 Page 22Statement LetterAttachment No. 1 36

Study Session Agenda Report ITEM NO. 2 DATE: September 17, 2025 FROM: Todd Hileman, City Manager PREPARED BY: Nick Kimball, Assistant City Manager/CFO Mark Siegfried, Accounting Manager/Controller SUBJECT: CONSIDERATION TO RECEIVE AND FILE THE ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR) FOR FISCAL YEAR ENDED JUNE 30, 2024 Recommendation It is recommended that the City Council and Finance Commission receive and file the annual audit reports for the year ended June 30, 2024. Executive Summary After the close of each fiscal year, the Finance Department is responsible for the preparation and publication of the City’s Annual Comprehensive Finance Report following an independent, certified audit. The goal of the financial audit and report is to provide users with a reasonable assurance that the information presented in the statements is accurate and timely. Although the audit was delivered almost nine (9) months late due to significant staff shortages in the Finance Department, the City received an unmodified opinion from the auditors. However, there were a number of deficiencies in internal control over financial reporting and other compliance matters identified. These are discussed in more detail in this Agenda Report. Overall, the City’s total net position, a measure of fiscal health of an organization over time, increased by almost $9 million to $128,429,327over the prior year, due to larger increases in revenues from charges for services, operating contributions and grants, property and other taxes, as well as uses of money and property than increases in expenses in General Government, Community Development, and Public Works. The General Fund unassigned fund balance, which is a measure of the City's operating liquidity and ability to address financial uncertainty while sustaining services into the future, ended FY 2023-2024 at $17,719,683, representing 55% of General Fund expenditures. Background On June 18, 2024, the City Council awarded a five-year professional services agreement to Clifton Larson Allen LLP (CLA) to provide professional independent auditing services. Throughout Fiscal Year 2024-2025, the Finance Department experienced a significant staff shortage and was unable to complete the fiscal year-end close procedures for FY 2023-2024 in a timely manner. Consequently, the audit for the period ending June 30, 2024 was 37

significantly delayed. In late Spring 2025, as City and contract staff began to catch up with a backlog in recording financial transactions, CLA began their audit work for the period ending June 30, 2024. The 2024 Audit was completed by CLA in September 2025 and the auditors rendered an unmodified opinion, which is the highest and optimal opinion issued by independent auditors. However, there were a number of deficiencies in internal controls over financial reporting and compliance matters that were identified, which will be discussed in this report. Analysis The Annual Comprehensive Financial Report (ACFR) presents information on the status of the City’s financial affairs, first on a citywide basis through the government-wide financial statements, and second, on a more detailed basis through the fund financial statements. Government-wide statements present the City’s overall financial position, much like a business, by reporting all assets, liabilities, revenues, and expenses across the entire organization. In contrast, fund financial statements focus on individual funds such as the General Fund, capital project funds, or special revenue funds. These provide a more detailed view of how resources were received and spent within each fund, ensuring compliance with legal and budgetary requirements. Although Government-wide financial statements and fund financial statements serve different purposes, they are complementary in nature and together, they provide both a “big picture” of the City’s financial health and a detailed account of financial activity in specific areas. The ACFR is organized into three primary sections: 1. Introductory Section – Provides background about the city, its organizational structure, and a letter of transmittal that sets the stage for the financial information. 2. Financial Section – Contains the Independent Audi