On the agenda: Riverside meeting — data center (Mar 4)

WESTERN MUNICIPAL WATER DISTRICT
14205 Meridian Parkway, Riverside, CA 92518
REGULAR BOARD MEETING
MARCH 4, 2026, at 9:30 A.M.
To join the Zoom virtual meeting: https://wmwd.zoom.us/j/84446869920
or telephone access: (669) 219‐2599 or (669) 900‐6833
Meeting ID: 844 4686 9920
Members of the public may view and/or participate in this meeting in person, online via
Zoom, or by viewing the live‐streamed meeting at www.WesternWaterCA.gov. This
meeting may also be video recorded for on demand viewing and broadcasting purposes.
Primary notice of this meeting will be the physical posting of the agenda in the public
notice area, located at the District’s Headquarters office, 14205 Meridian Parkway,
Riverside, California 92518. In addition, every effort will be made to publish this agenda
on the District’s website at: westernwaterca.gov/agendacenter, subject to technical
difficulties, such as power failure, internet disruption, or other third-party interference.
Members of the public may comment on any item within the jurisdiction of the District, or
any item on the agenda, in person, via Zoom at the time noted on the agenda, or by
submitting a written comment on the District website at the following web address:
https://wmwd.com/publiccomments, in‐person or via U.S. Mail addressed to by in‐person
delivery or via U.S. Mail addressed to the District’s Headquarters office.
Written comments received by 4:30 p.m. on March 3, 2026, will become part of the
Board meeting record. Pursuant to Government Code Section 54957.5, any writing that
(1) is a public record; (2) relates to an agenda item set for open session of a regular
meeting of the Board of Directors; and (3) is distributed less than 72 hours prior to that
meeting, will be made available for public inspection at the time the writing is
distributed to the Board of Directors. Any such writing will be available for public
inspection at the District office located at 14205 Meridian Parkway, Riverside,
California 92518. In addition, such writing may also be posted on the District’s website
at westernwaterca.gov/agendacenter.
Any person with a disability who requires a modification or accommodation in order
to participate in this meeting, or the agenda or agenda packet documents made
available in an appropriate alternative format, or any person with limited English
proficiency (LEP) who requires language assistance to communicate with the
Western Municipal Water District Board of Directors during the meeting, should
contact the Western Municipal Water District Board Secretary at (951) 571‐7209 or
[email protected], no less than 72 hours prior to this meeting, to enable
the Western Municipal Water District to make reasonable arrangements to ensure
accessibility or language assistance for this meeting.

Western Water | Regular Board Meeting
March 4, 2026
1. CALL TO ORDER
2. ROLL CALL
3. PLEDGE OF ALLEGIANCE
Led by Jesse Mobley, Operations Technician IV, Construction-Collections/Operations
Department
4. PUBLIC COMMENTS

Members of the public may address the Board regarding any item within the subject matter
jurisdiction of the Board; however, no action may be taken on off‐agenda items unless authorized
by law. Comments will be limited to matters not listed on the agenda. Members of the public may
comment on any matter listed on the agenda at the time that the Board considers that matter. Each
individual’s comment will be limited to a maximum of three (3) minutes; however, the Presiding
Officer reserves the right to reduce the amount of time each individual can speak to ensure all
members of the public have an opportunity to comment.

5.PRESENTATIONS
A. Sites Reservoir Project Update
6. CONSENT CALENDAR

Consent Calendar items are expected to be routine and non‐controversial and are to be acted upon
by the Board by one motion, without discussion. If any Board member, staff member, or interested
person requests that an item be removed from the Consent Calendar for further discussion, it will
be moved to the first item on the Action Agenda.

A. Approve the Minutes of the February 18, 2026, Regular Board Meeting
B. Receive and File the December 2025 Cash Disbursement Report
C. Adopt a Resolution Authorizing Western Municipal Water District to Join the
California Fixed Income Trust Membership and to Invest in Shares of the Trust and
in Individual Accounts
7. ITEMS TO BE ADDED TO THE AGENDA

(If any) In accordance with Section 54954.2 of the Government Code, upon determination by a two‐
thirds vote of the legislative body, or, if less than two‐thirds of the members are present, a
unanimous vote of those members present that there is a need to take action, and the need to take
action arose after the agenda was posted.

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
8. ACTION AGENDA

The following items on the Action Agenda call for discussion and action by the Board. All items are
placed on the Agenda so that the Board may discuss and take action on the item if the Board is so
inclined.

A. Receive and File the Investment Report for the Period Ended December 31, 2025
B. Receive and File a Report on the Use of General District Property Tax Revenue to
Offset the Deficit in the Combined Desalter Enterprise Fund for Fiscal Year 2024-2025
and Allocate Additional Property Tax Funds for Future Use
C. Adopt Resolution Concurring in Nomination of Elsinore Valley Municipal Water District
Board Member, Andy Morris, to the California Water Insurance Fund Board, an
Association of California Water Agencies Joint Powers Insurance Association (ACWA
JPIA) Captive Insurance Company
9. REPORTS

The following agenda items are reports. They are placed on the agenda to provide information to
the Board and the public. There is no action called for regarding these matters.

A. GENERAL COUNSEL REPORT
1. Report of General Counsel
B. GENERAL MANAGER AND STAFF REPORTS
1. General Manager’s Report
C. DIRECTORS COMMENTS AND REQUESTS
1. Report by SAWPA Representative
2. Report by MWD Representative
3. Report by CBWM Representative
4. Report by CDA Representative
5. Report by WRCRWA Representative
6. Report by WRCOG Representative
7. Report by SRRRA Representative
8. Report by ACWA Representative
9. Directors' Comments
10. Request for Future Agenda Items
Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
10.INFORMATION ITEMS
A. Labor and Benefits Expense Budget to Actual Report – Quarter Ended December
2025
11.CLOSED SESSION
A. CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Gov. Code Section 54956.8)
Property: Water Purchase
Agency Negotiator: Craig Miller, General Manager
Negotiating Partners: San Diego County Water Authority
Under Negotiation: Agreement Terms
12. NEXT MEETING
A. Wednesday, March 18, 2026, at 9:30 a.m.
13. ADJOURNMENT

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Agenda Item: 5A
Date: March 4, 2026
TO: THE BOARD OF DIRECTORS
Laura Roughton, President
Fauzia Rizvi, Vice President
Brenda Dennstedt, Secretary/Treasurer
Gracie Torres
Mike Gardner
FROM: Craig D. Miller, P.E., General Manager

SITES RESERVOIR PROJECT UPDATE

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Sites Reservoir Project
Update
Western Municipal Water District
March 4, 2026
By: Jerry Brown
Sites Authority Executive Director

What Problem Does the Sites Project Help
Solve?

Excerpted from Aug 2022 “California’s Water Supply Strategy, Adapting to a Hotter Drier Future”
2

What if we had Sites today?
Water Year

Estimated
Diversion

2023

700,000 AF

2024

840,000 AF

Total for
WY23&24

1,540,000 AF
(103% of
capacity!!)

2025

550,000 AF

2026

~360,000 AF
thru mid Mar

3

General Project Update
Water Right – draft order anticipated by end of Feb 2026 and final by end of Aug 2026
Critical permits and approvals – ITP’s and BO (constr) received, 404/401 (wetlands) in progress, Sec
106/ROD complete
Construction Contractor Selections – underway
Land Acquisitions - ~ 90% of critical path project area acquired, TROEs being secured for enviro surveys
Engineering Design – completed to ~ 30% design, DSOD initial review complete (no red flags)
Cost Estimate and Schedule Update– cost updated in June 2025, schedule updated in January 2026
Financing – sources secured and loan agreements being negotiated
Off-Taker Contracts – in final negotiations

Current Allocation of Active Sites Storage Space
(planning level estimates, subject to change)

Participant Name
Antelope Valley-East Kern
WA
City of American Canyon
Coachella Valley WD
Colusa County
Colusa County WD
Cortina WD
Davis WD
Desert WA
Dunnigan WD
Glenn-Colusa ID
Irvine Ranch WD
LaGrande WD
Metropolitan Water
District of SC
Reclamation District 108
Rosedale-Rio Bravo WD
San Bernardino Valley
Municipal WD
San Gorgonio Pass WA
Santa Clara Valley WD
Santa Clarita Valley WA
Westside WD
Wheeler Ridge - Maricopa
WSD
Zone 7 WA
State of California - Total
Reclamation
Available Storage Total

Amendment 3 Participation
Level

Amendment 3 Storage
Allocation

% Available
Storage1, 2, 3

500

3,117

0.2%

4,000
10,000
10,000
9,256
450
2,000
6,500
2,972
5,000
1,000
1,000

24,936
62,340
62,340
57,702
2,805
12,468
40,521
18,527
31,170
6,234
6,234

1.8%
4.4%
4.4%
4.1%
0.2%
0.9%
2.9%
1.3%
2.2%
0.4%
0.4%

50,000

311,700

22.1%

4,000
500

24,936
3,117

1.8%
0.2%

21,400

133,408

9.5%

14,000
500
5,000
5,375

87,276
3,117 9,351
31,170
33,508

6.2%
0.2% 0.6%
2.2%
2.4%

3,050

19,014 12,780

1.3% 0.9%

10,000

62,340
244,000
128,020
1,410,000

4.4%
17.3%
9.1%
100.0%

n/a
n/a

At a glance:
North of Delta – 19.4%
South of Delta – 53.9%
Riverside County ~ 25%

Reclamation – 9.1%
State Prop 1 – 17.3%

We do expect more
shifts in capacity in
early 2026 as
Participants make final
decisions.

7

State and Federal Shares in Sites Water
STATE
BUREAU OF RECLAMATION
• Total capacity share – 17.3%, • Total capacity share – 16%,
244 taf
225 taf, could go to 25%
• Purchasing Public Benefits
• Similar to Participants
• State Public Benefits –
Ecosystem:
• Anadromous Fish –
− 2/3rd SOD Refuge
enhance protection of all
− 1/3rd NOD Refuge
life stages consistent with

• Other State public
benefits:

− Local Flood Control
− Recreation
− Drought Emergency
Supplies (pending)

CVPIA, ie Reclamation
exchanges with Shasta
• Operational Flexibility –
allocate Sites water for
authorized CVP purposes

Sites Water: Geographic Reach to
Disadvantaged Communities
• Prop 1 and Prop 4 prioritize Proposition-funded water projects that provide
benefits to Disadvantaged Communities (DACs)
• Sites Participants service areas include a substantial share of California’s DAC
population.
− Est’d ~8.4 million DAC residents (~90% of CA DAC population)*

Share of Sites Participants’ service-area populations Living
within DAC Census Tracts *

~35% of Sites Participants’
service area population lives in
DAC census tracts

Population in SB 535 DAC census tracts (within Sites Participants' service-areas)
Population not in DAC census tracts (within Sites Participants' service-areas)
* DACs per SB535 (CalEnviroScreen) definition. Figures reflect geographic
overlap of DAC tracts with Sites Participants’ service-areas

7

Sites Delivers “Built In” Community Benefits
Jobs and Local Economy

• 4,300 job-yrs of construction work, $588M wages +benefits
• 35 operations positions, ~ $5M/yr wages + benefits
• Local business participation + local hiring goals under Construction Workforce Policy
• More reliable water supply to the North State ag production

Local Infrastructure Improvements

• 46 miles of roads improved, 14 bridge crossings improved
• New Sites-Lodoga Bridge fully paid for by the Project
• Infrastructure improvements designed to strengthen local access and resilience

Public Safety and Community Protection
• Coordination with local fire, emergency service and law enforcement to strengthen capabilities during workforce and traffic influx

Recreation and Quality of Life
• ~500 acres of new publicly accessible recreation facilties

”Leave Behind” community assets

• Temporary housing/project facilities designed to support Maxwell growth plans

Delivered through adopted policies, permitting requirements, and executed
agreements with local partners

The Authority has a strategy for delivering the
Project and managing risk
Contracting Strategy adopted in July 2022

Partner
Facilities

•
•
•
•

Hydraulics
Conveyance
Power
Facilities
System Controls
O&M

•
•
•
•

• Ownership
• Operations

Sites
Authority

•
•
•
Stand Alone
•
and
Specialty

Logistics
Reservoir
Material Balance
Facilities
Schedule
Community CMAR Reservoir/Roads Awarded
to Barnard on Jan 16, 2026

Dunnigan Pipeline
Huffmaster Road
Reservoir Clearing
Recreation

• Mitigation

Overall Sites Project Schedule (updated Jan 2026)

Estimated 7 Year Construction Duration
2027 to 2033

Construction Phasing

Resolution to
proceed to
heavy
construction

The overall
Project is made
up of ~20
discreet, large
subprojects.

Identified Project Funding Sources
A Local, State, and Federal Partnership
All Storage Partners

Project Participant Financing

14.6%
75%

10.4%

20

Timeline: Construction is on the Horizon
Sites Project Schedule (adopted January 2026)

”Yuba County Voters Approved a
measure pledging 2 times the Assessed
Value of all land in the County to build
New Bullards Bar Dam,”. (1961)

”At $1.9B Diamond Valley Lake is a
massive infrastructure investment.
Questions raised whether costs
justified.” (1991)

"California’s Bold
Water Plan: $1.75
Billion State Water
Project Sparks
Debate on Cost
and Feasibility"
(May 10, 1960)

Closing

“A society grows
great when old men
and women plant
trees in whose
shadow they shall
never sit “–
Greek Proverb

Questions?

October 28, 2025

Imported Water Subcommittee

24

WESTERN MUNICIPAL WATER DISTRICT
MINUTES OF THE
REGULAR BOARD MEETING
OF FEBRUARY 18, 2026
1. CALL TO ORDER
Board President Laura Roughton called the regular meeting of the Western Municipal
Water District (Western Water) to order at 9:30 a.m. on Wednesday, February 18, 2026,
in the Western Water Board Room, 14205 Meridian Parkway, Riverside, California.
2. ROLL CALL
Roll call of the Board of Directors was taken by Board Secretary Tammi Ford. The
following Board members were in attendance:
Directors Present:
Laura Roughton, President
Fauzia Rizvi, Vice President
Brenda Dennstedt, Secretary-Treasurer
Gracie Torres
Mike Gardner
Director Torres arrived at the meeting at 9:31 a.m.
3. PLEDGE OF ALLEGIANCE
Josh Aguilar, Deputy Director of Water Resources, Water Resources Department, led the
Pledge of Allegiance.
4. PUBLIC COMMENTS

Members of the public may address the Board regarding any item within the subject matter
jurisdiction of the Board; however, no action may be taken on off‐agenda items unless authorized
by law. Comments will be limited to matters not listed on the agenda. Members of the public may
comment on any matter listed on the agenda at the time that the Board considers that matter. Each
individual’s comment will be limited to a maximum of three (3) minutes; however, the Presiding
Officer reserves the right to reduce the amount of time each individual can speak to ensure all
members of the public have an opportunity to comment.

Western Water | Regular Board Meeting
March 4, 2026
None.

5. CONSENT CALENDAR

Consent Calendar items are expected to be routine and non‐controversial and are to be acted upon
by the Board by one motion, without discussion. If any Board member, staff member, or interested
person requests that an item be removed from the Consent Calendar for further discussion, it will
be moved to the first item on the Action Agenda.

Motion: Rizvi
Second: Dennstedt
A. Approve the Minutes of the February 4, 2026, Regular Board Meeting
The Motion Passed 5-0
Voting No: None
Abstain: None
Absent: None
6. ITEMS TO BE ADDED TO THE AGENDA

(If any) In accordance with Section 54954.2 of the Government Code, upon determination by a two‐
thirds vote of the legislative body, or, if less than two‐thirds of the members are present, a
unanimous vote of those members present that there is a need to take action, and the need to take
action arose after the agenda was posted.

None.
7. ACTION AGENDA

The following items on the Action Agenda call for discussion and action by the Board. All items are
placed on the Agenda so that the Board may discuss and take action on the item if the Board is so
inclined.

A. Adopt a Resolution Approving a Water Supply Assessment for the Westmont Village
Residential Project
This item was presented by: Mallory O’Conor, Water Resources Manager
Motion: Torres
Second: Gardner
As to the following:
1. Adopt Resolution 3370 approving a Water Supply Assessment for the proposed
Westmont Village Residential Project.
Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
The Motion Passed 5-0
Voting No: None
Abstain: None
Absent: None
B. Adopt a Resolution Confirming Board Representatives to the Santa Ana Watershed
Project Authority Commission
This item was presented by: Craig Miller, General Manager
Motion: Torres
Second: Dennstedt
As to the following:
1. Adopt Resolution 3372, confirming the appointment of Director Mike Gardner as
the Representative, and Director Brenda Dennstedt as the Alternate
Representative to the Santa Ana Watershed Project Authority governing board,
effective January 21, 2026; and
2. Confirm the appointment of Derek Kawaii, Director of Engineering, as an additional
Alternate Representative to the Santa Ana Watershed Project Authority Project
Agreement 24 Committee.
The Motion Passed 5-0
Voting No: None
Abstain: None
Absent: None
C. Adopt Resolution Confirming Representatives to the Western Riverside County
Regional Wastewater Authority Board of Directors
This item was presented by: Craig Miller, General Manager
Motion: Dennstedt
Second: Torres
As to the following:
1. Adopt Resolution 3373, appointing a Representative and Alternate
Representatives to the Board of Directors of the Western Riverside County
Regional Wastewater Authority, effective January 21, 2026.
Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
The Motion Passed 5-0
Voting No: None
Abstain: None
Absent: None
D. Confirm Western Municipal Water District’s Representatives to
Organizations; Receive and File Board Director Committee Appointments

Outside

This item was presented by: Craig Miller, General Manager
Motion: Roughton
Second: Gardner
As to the following:
1. Appoint Director Laura Roughton and Director Fauzia Rizvi as the Representatives
and Director Mike Gardner as the Alternate Representative to the joint committee
meetings with Elsinore Valley Municipal Water District.
2. Appoint Director Laura Roughton and Director Fauzia Rizvi as the Representatives
and Director Mike Gardner as the Alternate Representatives to the joint committee
meetings with Rancho California Water District.
The Motion Passed 5-0
Voting No: None
Abstain: None
Absent: None
E. Discuss and Provide Direction Regarding Teleconferencing Pursuant to Recent
Brown Act Amendments (Senate Bill 707)
This item was presented by: Jeff Ballinger, General Counsel
Motion: Roughton
Second: Gardner
As to the following:
1. Adopt and implement Senate Bill 707 (SB 707) as it relates to the Brown Act
alternative public meeting attendance options.

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
The Motion Passed 5-0
Voting No: None
Abstain: None
Absent: None
8. REPORTS

The following agenda items are reports. They are placed on the agenda to provide information to
the Board and the public. There is no action called for regarding these matters.

A. GENERAL COUNSEL REPORT
1. Report of General Counsel
Jeff Ballinger, General Counsel, stated there was nothing to report.
B. GENERAL MANAGER AND STAFF REPORTS
1. General Manager’s Report
Craig Miller, General Manager, reported that at the recent MWD meeting, a
significant action was heard at the committee and board level to certify an
Environmental Impact Report (EIR) for PURE Water. He stated that
Western Water raised its voice and attempted to bring attention to the item,
noting that it is a good project but is being brought forward at the wrong
time. He further stated the District’s opinion was voiced at the caucus
meeting and the Engineering Committee, and that Western Water and
others communicated that they would like MWD’s focus right now to be on
the budget and paying costs for reliable projects. He said PURE Water is
still in the budget but has not been a board-approved project as yet and
there is a concern that other long term viable projects, such as Sites
Reservoir are not included in the budget. He discussed some MWD budget
issues and said that Staff is working closely with Director Dennstedt to
address the concerns and hope for the budget process. Mr. Miller
discussed his recent activities, including his continued leadership at the
California Municipal Water Association (CMUA) as its President, a phone
call with Congressman Takano regarding Congressionally Directed
Spending that the Congressman supported for Western Water, and
Strategic Planning Sessions he and staff are engaged.

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
2. Water Supply Conditions Update
Josh Aguilar, Deputy Director of Water Resources, provided a water supply
conditions update, stating that surface storage reservoirs and snow
reservoirs levels look good. He reviewed the snow survey, noting that the
snowpack is 60% of average and that the February and March snowfall will
be important. He discussed hydrologic conditions in the Northern Sierra and
Upper Colorado River and reviewed reservoir storage throughout the state
and also locally. He announced that at the end of December 2025, for the
first time in 25 years, the entire state was out of drought condition, however
cautioned that the beginning of the year was dry and reminded the board
that drought conditions will return but this is the time to prepare for those
dry years. He talked about the State Water Project water allocation, saying
it had been increased to a 30% allocation, and closed his report by
discussing World Wetlands Day.
C. DIRECTORS COMMENTS AND REQUESTS
1. Report by SAWPA Representative
Director Gardner reported that the Commission authorized a Request for
Proposal (RFP) for a building security project to provide fencing around the
perimeter of SAWPA, as there has been an increase in theft events and
property destruction by unhoused individuals. He also stated approval was
given to compensate SAWPA board members for attendance at the recent
50th anniversary event and stated that the Board received a presentation
from Orange County Sanitation District regarding a potential new method to
break down PFAS and other contaminants in the water.
2. Report by MWD Representative
Director Dennstedt reported that MWD has set a public hearing for March
10, 2026, on proposed water rates and charges. She thanked Western
Water staff for their support in making sure she is prepared for the upcoming
budget cycle. She reiterated Craig Miller’s comments regarding the Pure
Water EIR and stated she was in agreement with him.
3. Report by CBWM Representative
Director Gardner reported that there was a special meeting held to kick off
a strategic planning process and said the meeting ended with some
agreement on how to approach the process.

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
4. Report by CDA Representative
Director Gardner reported that the Board approved a 5% cost of living
increase for CDA employees and also approved the purchase of a spare
reverse osmosis pump and motor.
5. Report by WRCRWA Representative
Director Rizvi stated there was nothing to report.
6. Report by WRCOG Representative
Director Dennstedt stated there was nothing to report.
7. Report by SRRRA Representative
Director Rizvi stated there was nothing to report.
8. Report by ACWA Representative
Director Dennstedt reported that she will be in Washington DC for ACWA’s
Legislative Conference next week, and that Region 9 is developing a
regional program for the August timeframe.
9. Directors' Comments
Comments were made by:
Director Torres
Director Rizvi
Director Gardner
Director Dennstedt
President Roughton
10. Request for Future Agenda Items
None.
9.INFORMATION ITEMS
A. Budget vs. Actual Report – November 2025
B. Investment Report – December 2025

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
General Counsel, Jeff Ballinger, called the Board of Directors into closed session at 11:15
a.m.
10.CLOSED SESSION
A. CONFERENCE WITH LEGAL COUNSEL – ANTICIPATED LITIGATION
Initiation of litigation pursuant to Gov. Code Section 54956.9(d)(4)
One (1) potential case
B. CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Gov. Code Section 54956.8)
Property: Water Purchase
Agency Negotiator: Craig Miller, General Manager
Negotiating Partners: San Diego County Water Authority
Under Negotiation: Agreement Terms
C. CONFERENCE WITH LEGAL COUNSEL – ANTICIPATED LITIGATION
Initiation of litigation pursuant to Gov. Code Section 54956.9(d)(4)
One (1) potential case
Director Roughton called the Board of Directors back into open session at 12:42 p.m.
General Counsel, Jeff Ballinger, stated there was no reportable action coming out of
Closed Session.
11. NEXT MEETING
A. Wednesday, March 4, 2026, at 9:30 a.m.
12. ADJOURNMENT
There being no further business before the Board of Directors, President Roughton
adjourned the meeting at 12:42 p.m.

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Agenda Item: 6B
Date: March 4, 2026
TO: THE BOARD OF DIRECTORS
Laura Roughton, President
Fauzia Rizvi, Vice President
Brenda Dennstedt, Secretary-Treasurer
Gracie Torres
Mike Gardner
FROM: Craig D. Miller, P.E., General Manager

RECEIVE AND FILE THE DECEMBER 2025 CASH DISBURSEMENT REPORT
RECOMMENDATION:
The Finance Committee and Staff recommend the Board of Directors:
1. Receive and file the December 2025 Cash Disbursement Report.
EXECUTIVE SUMMARY:
The Cash Disbursement Report lists each check, bank transfer (wire), and electronic
payment processed during the month of December 2025, with the exception of employee
payroll disbursements.
BUDGET IMPACT:
This item has no budget impact.
DETAIL:
Western Municipal Water District’s (Western Water) Cash Disbursement Report is
prepared monthly and details the payment date, reference number, invoice number,
payee, amount, and a short description of each expenditure. The major expenditures in

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
Agenda Item: 6B
the report include purchased water, capital projects, debt service, contract services,
utilities, employee benefits, maintenance, materials and supplies.
Western Water had total disbursements of approximately $19.5 million during December
2025. Of this total, $10.6 million was paid to the Metropolitan Water District of Southern
California (MWD) for water purchases. This payment makes up 54% of the total
disbursements. Adding in water purchases paid to the City of Riverside, Elsinore Valley
Municipal Water District, and Eastern Municipal Water District, these payments make up
61% of the total disbursements.
Excluding water purchases, the three largest disbursements were: 1) a $970 thousand
payment to the Chino Basin Desalter Authority for quarterly member agency assessments
covering administrative, project, fixed, and variable costs; 2) a $461 thousand payment
to Big Ben Engineering Inc. for the Jefferson Avenue interconnection project; and 3) a
$342 thousand payment to Jurupa Community Service District for shared costs related to
the WRCRWA regional pump station.
REASON FOR ACTION:
Reporting monthly cash disbursements provides information and transparency to the
Board of Directors and the public regarding Western Water’s expenditures.
SOLUTION:
Receive and file the 2025 Cash Disbursement Report.
STRATEGIC PRIORITIES REFERENCE:
This action aligns with Western Water’s Strategic Priority of Financial Stewardship.
LEGAL COUNSEL REVIEW:
Staff has determined that this item does not require legal review.
Respectfully submitted by:
Craig D. Miller, P.E., General Manager

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
Agenda Item: 6B
Attachment:
1. December 2025 Cash Disbursement Report

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Attachment 1
Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

031

WIR

12/01/2025

7235

US BANK NATIONAL ASSOCIATE

100375

100376

100377

100378

2/5/2026

12/01/2025 to 12/31/2025
Amount
$16,888.85

Invoice

Invoice Date

Comment

Amount

3079407

12/01/2025

DEBT SERVICE - REVENUE BOND SERIES 2022A

$16,888.85

9903

AMERICAN MATERIAL COMPANY

Invoice

ACH

Invoice Date

Comment

Amount

103235

11/12/2025

MATERIALS AND SUPPLIES

$56.46

ACH

12/03/2025

$56.46

10367

ARDURRA GROUP, INC.

Invoice

Invoice Date

Comment

Amount

175356

11/13/2025

CONSTRUCTION MANAGEMENT - JEFFERSON AVE INTERCONNECTION

$79,211.29

ACH

12/03/2025

1017

BABCOCK LABORATORIES INC

Invoice Date

Comment

Amount

CK50232-7138

11/06/2025

WATER TESTING SERVICES

$1,115.46

CK50412-7135

11/10/2025

WATER TESTING SERVICES

$22.00

CK50413-7137

11/10/2025

WATER TESTING SERVICES

$286.00

CK50414-7135

11/10/2025

WATER TESTING SERVICES

$88.00

CK50415-7135

11/10/2025

WATER TESTING SERVICES

$44.00

11/11/2025

WATER TESTING SERVICES

$108.00
$126.00

CK50555-7135

11/11/2025

WATER TESTING SERVICES

CK50624-7136

11/12/2025

WATER TESTING SERVICES

$192.00

CK50625-7136

11/12/2025

WATER TESTING SERVICES

$192.00

CK50629-7135

11/12/2025

WATER TESTING SERVICES

$22.00

CK50670-7138

11/13/2025

WATER TESTING SERVICES

$369.46

CK50674-7135

11/13/2025

WATER TESTING SERVICES

$67.38

CK50675-7136

11/13/2025

WATER TESTING SERVICES

$256.00

CK50676-7136

11/13/2025

WATER TESTING SERVICES

$224.00

CK50715-7135

11/13/2025

WATER TESTING SERVICES

$506.00

CK50734-7135

11/14/2025

WATER TESTING SERVICES

$506.00

CK50749-7136

11/14/2025

WATER TESTING SERVICES

$176.00

5988

BARRY'S SECURITY SERVICE, INC

Invoice

Invoice Date

Comment

Amount

103560

11/10/2025

SECURITY SERVICES - ARLINGTON DESALTER

$1,026.00

103575

11/10/2025

SECURITY SERVICES - EL SOBRANTE

$1,754.18

103577

11/10/2025

SECURITY SERVICES - MERIDIAN

$1,586.23

12/03/2025

ul

$4,300.30

CK50552-7135

ACH

ul

$79,211.29

Invoice

12/03/2025

ul

ul

$4,366.41
ul

Page 1 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100379

ACH

12/03/2025

10599

BERG & ASSOCIATES INC

100380

100381

100382

100383

100384

100385

100386

2/5/2026

12/01/2025 to 12/31/2025
Amount
$26,414.75

Invoice

Invoice Date

Comment

Amount

68524

11/13/2025

CONSTRUCTION MANAGEMENT SERVICES - MAGNOLIA AVENUE INTERCONNECTION WITH RIVERSIDE PUBLIC UTILITIES

$26,414.75

1019

BEST BEST & KRIEGER

Invoice

ACH

Invoice Date

Comment

Amount

1044745

11/10/2025

LEGAL SERVICES

$28,534.13

1044747

11/10/2025

LEGAL SERVICES

$1,152.00

ACH

12/03/2025

$29,686.13

8252

BH ELECTRIC, INC

Invoice

Invoice Date

Comment

Amount

3388

11/10/2025

ELECTRICAL SERVICES - LA SIERRA RESERVOIR VAULT LIGHTS

$3,052.61

ACH

12/03/2025

9585

BIOMAGIC INC

Invoice Date

Comment

Amount

150770

11/14/2025

ODOR CONTROL CHEMICALS

$999.92

150771

11/14/2025

ODOR CONTROL CHEMICALS

$1,037.09

150772

11/14/2025

ODOR CONTROL CHEMICALS

$1,037.09

ACH

10689

BRADYPLUS

Invoice Date

Comment

Amount

10892492

11/14/2025

OFFICE SUPPLIES

$1,042.87

ACH

10326

CANDICE HARO

Invoice Date

Comment

Amount

103025

11/25/2025

EMPLOYEE EXPENSE REIMBURSEMENT - CONFERENCE/TRAVEL

$230.11

ACH

4727

CHANDLER ASSET MANAGEMENT INC

Invoice Date

Comment

Amount

25-10-250

11/10/2025

INVESTMENT MANAGEMENT SERVICES

$11,936.94

ACH

ul

$11,936.94

107733

CHELSEA N. RHOADES

Invoice

Invoice Date

Comment

Amount

112125

11/21/2025

EMPLOYEE EXPENSE REIMBURSEMENT - CONFERENCE/TRAVEL

$1,987.92

12/03/2025

ul

$230.11

Invoice

12/03/2025

ul

$1,042.87

Invoice

12/03/2025

ul

$3,074.10

Invoice

12/03/2025

ul

$3,052.61

Invoice

12/03/2025

ul

ul

$1,987.92
ul

Page 2 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

Amount

100387

ACH

12/03/2025

6304

CPACINC.COM

$1,863.96

100388

100389

100390

100391

100392

100393

100395

2/5/2026

Invoice

Invoice Date

Comment

Amount

SI-1302169

11/07/2025

PARTS AND SERVICES

$1,863.96

5268

DON'S LOCK & KEY, INC

Invoice

ACH

Invoice Date

Comment

Amount

26591

11/10/2025

LOCK AND KEY SERVICES

$75.00

ACH

12/03/2025

$75.00

7420

DUDEK

Invoice

Invoice Date

Comment

Amount

202509241

11/07/2025

PROFESSIONAL SERVICES - UNIVERSITY HIGHLANDS FIRE FLOW ANALYSIS

$7,370.00

PY-202405242-01

07/11/2024

PROFESSIONAL SERVICES - GREENTREE RANCH FIRE FLOW ANALYSIS

$19,167.50

ACH

12/03/2025

107976

CORNELL UNIVERSITY

Invoice Date

Comment

Amount

1787959323

11/25/2025

STAFF DEVELOPMENT PROJECT MANAGEMENT COURSE - RILEY KING

$2,730.00

ACH

8554

FASTENAL COMPANY

Invoice Date

Comment

Amount

CARI1121851

11/14/2025

GENERAL SUPPLIES

$170.16

ACH

9891

FPC GRAPHICS

Invoice Date

Comment

Amount

96847

11/06/2025

ORANGECREST REPLACEMENT PROJECT LETTER MAILER AND POSTAGE

$426.28

ACH

107719

G-FORCE TECHNOLOGY CONSULTING LLC

Invoice Date

Comment

Amount

5229

11/08/2025

FINANCE SOFTWARE OPTIMIZATION CONSULTING SERVICES

$225.00

ACH

ul

$225.00

3222

GMC ELECTRICAL INC

Invoice

Invoice Date

Comment

Amount

6372-E

11/12/2025

CORROSION CONTROL SERVICES AT JEFFERSON AVE AND IVY STREET

$3,000.90

12/03/2025

ul

$426.28

Invoice

12/03/2025

ul

$170.16

Invoice

12/03/2025

ul

$2,730.00

Invoice

12/03/2025

ul

$26,537.50

Invoice

12/03/2025

ul

ul

$3,000.90
ul

Page 3 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

Amount

100396

ACH

12/03/2025

1452

GRAINGER

$1,871.56

100397

100399

100400

100401

100402

2/5/2026

Invoice

Invoice Date

Comment

Amount

9702027336

11/06/2025

MATERIALS AND SUPPLIES

$35.46

9702679482

11/06/2025

MATERIALS AND SUPPLIES

$130.38

9703186248

11/07/2025

MATERIALS AND SUPPLIES

$4.92

9703830142

11/07/2025

MATERIALS AND SUPPLIES

$218.73

9709396254

11/12/2025

MATERIALS AND SUPPLIES

$370.62

9712455097

11/14/2025

MATERIALS AND SUPPLIES

$332.41

9712702597

11/14/2025

MATERIALS AND SUPPLIES

$636.49

9712702605

11/14/2025

MATERIALS AND SUPPLIES

$117.93

9714768166

11/07/2025

MATERIALS AND SUPPLIES

$24.62

5629

INFOSEND, INC

Invoice

ACH

Invoice Date

Comment

Amount

298734

11/12/2025

PRINTING SERVICES - ENVELOPES

$2,316.63

298737

11/12/2025

PRINTING SERVICES - STATEMENT INSERTS

$1,432.44

298738

11/12/2025

PRINTING SERVICES - JULY WELCOME PACKETS

$3,636.57

298740

11/12/2025

PRINTING SERVICES - STATEMENT INSERTS

$1,406.33

ACH

12/03/2025

$8,791.97

3049

KRIEGER & STEWART, INC

Invoice

Invoice Date

Comment

Amount

51570

11/13/2025

GENERAL ENGINEERING SUPPORT SERVICES

$439.25

51571

11/13/2025

PROFESSIONAL SERVICES - FIRE FLOW MODELING

$5,571.25

ACH

12/03/2025

10586

LAE ASSOCIATES

Invoice Date

Comment

Amount

25-615

11/06/2025

PROFESSIONAL SERVICES - ORANGECREST WATER MAIN REPLACEMENT

$54,076.37

25-620

11/06/2025

PROFESSIONAL SERVICES - LAKE MATTHEWS WATER MAIN REPLACEMENT

$1,365.00

ACH

7904

LAWNSCAPE SYSTEMS

Invoice Date

Comment

Amount

1537

11/14/2025

LANDSCAPE SERVICES - CAUFIELD LOT

$6,500.00

1538

11/14/2025

LANDSCAPE SERVICES - WELL 7

$4,500.00

1539

11/14/2025

LANDSCAPE SERVICES - MERIDIAN

$9,000.00

ACH

ul

$20,000.00

9649

MALLORY SAFETY & SUPPLY LLC

Invoice

Invoice Date

Comment

Amount

6297382

11/14/2025

GENERAL SUPPLIES

$581.32

12/03/2025

ul

$55,441.37

Invoice

12/03/2025

ul

$6,010.50

Invoice

12/03/2025

ul

ul

$581.32
ul

Page 4 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100403

ACH

12/03/2025

8855

MICHAEL BAKER INTERNATIONAL

100404

100405

100406

100407

100408

100409

100410

2/5/2026

12/01/2025 to 12/31/2025
Amount
$4,761.00

Invoice

Invoice Date

Comment

Amount

1267359

11/14/2025

PROFESSIONAL SERVICES - ORANGECREST AND LAKE MATTHEWS CONSTRUCTION SUPPORT

$4,761.00

10594

MICHAEL K. NUNLEY & ASSOCIATES

Invoice

ACH

Invoice Date

Comment

Amount

2089

11/12/2025

PROFESSIONAL SERVICES - WMWD/RCWD REGIONAL INTERTIE

$11,227.50

2092

11/12/2025

PROFESSIONAL SERVICES - PROJECT MANAGEMENT SUPPORT FOR STUDY TO MOVE WWRF FLOWS

$3,858.75

2093

11/12/2025

PROFESSIONAL SERVICES - PROJECT MANAGEMENT FOR SUPPORT 1269 SEWER FORCEMAIN

$5,267.00

2094

11/12/2025

PROFESSIONAL SERVICES - STERLING PUMP STATION ENGINE STAFF AUGMENTATION

$1,480.50

2096

11/12/2025

PROFESSIONAL SERVICES - RAINBOW HYDRAULIC MODELING SERVICES

$21,973.75

2097

11/12/2025

PROFESSIONAL SERVICES - MAGNOLIA OPERATIONAL SCENARIOS UPDATE

$9,636.50

2106

12/12/2025

PROFESSIONAL SERVICES - PLAN CHECKS

$6,871.50

2117

11/13/2025

PROFESSIONAL SERVICES - AS NEEDED PROJECT MANAGEMENT SUPPORT

$11,728.00

2135

11/14/2025

PROFESSIONAL SERVICES - STERLING RESERVOIR MODIFICATION

$7,168.00

ACH

12/03/2025

$79,211.50

8675

NATIONAL SAFETY SERVICES INC

Invoice

Invoice Date

Comment

Amount

25097

11/12/2025

2026 Q1 ANNUAL RESCUE TRAILER COMPLIANCE

$11,000.00

ACH

12/03/2025

10011

NOVOA COMMUNICATIONS INC

Invoice Date

Comment

Amount

P143055 42

11/13/2025

POSTCARD TRANSLATION SERVICES

$30.00

ACH

7273

PARKHOUSE TIRE INC

Invoice Date

Comment

Amount

2010974814

11/10/2025

TIRES AND TIRE SERVICES

$222.06

ACH

8064

PAYPRO ADMINISTRATORS

Invoice Date

Comment

Amount

048248

11/19/2025

DENTAL VISION LIFE AFLAC VTL STD AND LTD BENEFITS - DECEMBER 2025

$43,203.76

ACH

107921

PECHANGA BAND OF INDIANS

Invoice Date

Comment

Amount

25676

11/07/2025

TRIBAL MONITORING SERVICES - JEFFERSON AVE INTERCONNECTION PROJECT

$3,921.10

ACH

ul

$3,921.10

107959

PERCI READY LLC

Invoice

Invoice Date

Comment

Amount

Y89NJQQC-0001

11/07/2025

SAFETY SUPPLIES

$1,987.58

12/03/2025

ul

$43,203.76

Invoice

12/03/2025

ul

$222.06

Invoice

12/03/2025

ul

$30.00

Invoice

12/03/2025

ul

$11,000.00

Invoice

12/03/2025

ul

ul

$1,987.58
ul

Page 5 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100411

ACH

12/03/2025

107920

POST AND JAM LLC

100412

100413

100414

100415

100416

100417

100419

100420

100421

2/5/2026

12/01/2025 to 12/31/2025
Amount
$2,550.00

Invoice

Invoice Date

Comment

Amount

1148

10/20/2025

TURF TRANSFORMATION - BERGAMONT PUMP STATION AND RCSD MUNICIPAL WATER DISTRICT

$2,550.00

8280

PRIME SYSTEMS INDUSTRIAL AUTOMATION, INC

Invoice

ACH

Invoice Date

Comment

Amount

0274B-25

11/06/2025

DISTRICT SCADA PROGRAMMING AND SUPPORT

$16,670.30

ACH

12/03/2025

$16,670.30

10286

QUALIFIED MOBILE INC

Invoice

Invoice Date

Comment

Amount

336246

11/10/2025

EPA COMPLIANT VEHICLE CLEANING SERVICES

$387.38

336247

11/10/2025

EPA COMPLIANT VEHICLE CLEANING SERVICES

$258.25

ACH

12/03/2025

107806

RINCON CONSULTANTS INC

Invoice Date

Comment

Amount

69964

11/11/2025

WMWD JEFFERSON AVE INTERCONNECTION

$35,527.15

ACH

10600

RIVERSIDE MEDICAL CLINIC, INC

Invoice Date

Comment

Amount

700000595-110625

11/06/2025

PRE-EMPLOYMENT PHYSICALS

$1,285.00

ACH

3150

ROYAL INDUSTRIAL SOLUTIONS

Invoice Date

Comment

Amount

6441-1166133

11/06/2025

MATERIALS AND SUPPLIES

$380.34

ACH

10710

SVT FLEET SOLUTIONS

Invoice Date

Comment

Amount

20000293-111225

11/12/2025

FLEET MANAGEMENT SERVICES

$2,765.00

ACH

107907

UNIVERSAL SERVICES OF AMERICA

Invoice Date

Comment

Amount

17737041

11/06/2025

JANITORIAL SERVICES - VARIOUS DISTRICT SITES

$14,335.18

ACH

2973

USA BLUEBOOK

Invoice Date

Comment

Amount

INV00878296

11/06/2025

MATERIALS AND SUPPLIES

$630.17

ACH

ul

$630.17

5870

VALLEY SOIL, INC

Invoice

Invoice Date

Comment

Amount

27750

11/13/2025

WATER USE EVALUATION AND REPAIRS - RETAIL CUSTOMERS

$10,580.00

12/03/2025

ul

$14,335.18

Invoice

12/03/2025

ul

$2,765.00

Invoice

12/03/2025

ul

$380.34

Invoice

12/03/2025

ul

$1,285.00

Invoice

12/03/2025

ul

$35,527.15

Invoice

12/03/2025

ul

$645.63

Invoice

12/03/2025

ul

ul

$10,580.00
ul

Page 6 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100422

ACH

12/03/2025

9202

VARNER & BRANDT LLP

100423

100424

100425

219240

219241

219242

219243

2/5/2026

12/01/2025 to 12/31/2025
Amount
$6,708.50

Invoice

Invoice Date

Comment

Amount

23744-103125

10/31/2025

LEGAL SERVICES

$6,708.50

10375

WATERLINE TECHNOLOGIES INC

Invoice

ACH

Invoice Date

Comment

Amount

5770289

11/10/2025

HYPOCHLORITE SOLUTIONS

$870.27

12/03/2025

$7,551.45

5770290

11/10/2025

HYPOCHLORITE SOLUTIONS

$4,703.29

5770291

11/10/2025

HYPOCHLORITE SOLUTIONS

$870.27

5770405

11/10/2025

HYPOCHLORITE SOLUTIONS

$1,107.62

ACH

107961

WATURA NORTH AMERICA, INC.

Invoice

Invoice Date

Comment

Amount

5IHZM4LF-0001

11/13/2025

WATURA ONLINE TRAINING PLATFORM ACCESS SUBSCRIPTION

$3,700.00

ACH

12/03/2025

7980

WEST COAST SAND & GRAVEL INC

Invoice Date

Comment

Amount

902588

11/12/2025

CLASS 2 AGGREGATE BASE

$1,681.34

CHK

107969

Alica Chavez

Invoice Date

Comment

Amount

SPONSORSHIP-111925

11/19/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$500.00

CHK

1309

AT&T BUSINESS SERVICE

Invoice Date

Comment

Amount

1125-6925

11/18/2025

TELEPHONE SERVICES

$129.49

CHK

6568

AT&T CALNET

Invoice Date

Comment

Amount

000024363671

11/13/2025

TELEPHONE SERVICES

$746.31

000024363673

11/13/2025

TELEPHONE SERVICES

$30.79

000024363821

11/13/2025

TELEPHONE SERVICES

$310.80

000024368687

11/13/2025

TELEPHONE SERVICES

$93.94

0000243700992

11/13/2025

TELEPHONE SERVICES

$50.32

000024396427

11/20/2025

TELEPHONE SERVICES

$316.19

CHK

ul

$1,548.35

5855

BRENDA DENNSTEDT

Invoice

Invoice Date

Comment

Amount

111525

11/15/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$212.80

12/03/2025

ul

$129.49

Invoice

12/03/2025

ul

$500.00

Invoice

12/03/2025

ul

$1,681.34

Invoice

12/03/2025

ul

$3,700.00

Invoice

12/03/2025

ul

ul

$212.80
ul

Page 7 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219244

CHK

12/03/2025

9571

CINTAS FIRST AID & SAFETY

219245

219246

219247

219248

219249

219251

2/5/2026

12/01/2025 to 12/31/2025
Amount
$1,928.36

Invoice

Invoice Date

Comment

Amount

4249511600

11/11/2025

SAFETY PPE

$207.01

4249511834

11/11/2025

UNIFORMS

$1,280.45

4249676909

11/12/2025

UNIFORMS

$277.77

9345680186

11/06/2025

AED SERVICES - ARLINGTON DESALTER

$163.13

1112

CITY OF RIVERSIDE

Invoice

CHK

Invoice Date

Comment

Amount

1025-253273-159977

11/19/2025

ELECTRICITY UTILITY CHARGES

$1,426.10

1025-253273-160120

11/19/2025

ELECTRICITY UTILITY CHARGES

$5,081.63

1025-253273-160574

11/19/2025

ELECTRICITY UTILITY CHARGES

$2,097.64

1025-253273-160580

11/19/2025

ELECTRICITY UTILITY CHARGES

$2,202.26

1025-253273-160601

11/19/2025

ELECTRICITY UTILITY CHARGES

$4,400.80

CHK

12/03/2025

$15,208.43

1112

CITY OF RIVERSIDE

Invoice

Invoice Date

Comment

Amount

00283906

11/14/2025

POTABLE WATER PRODUCTION AND CONVEYANCE OCTOBER 2025

$617,182.49

CHK

12/03/2025

101360

CLAUDIA GALVAN

Invoice Date

Comment

Amount

SPONSORSHIP-103025

10/30/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$1,000.00

CHK

10075

CLIFTONLARSONALLEN, LLP

Invoice Date

Comment

Amount

L251705775

11/13/2025

AUDITING SERVICES

$12,600.00

CHK

9984

CORODATA SHREDDING, INC.

Invoice Date

Comment

Amount

DN1551917

10/31/2025

SHREDDING SERVICES - EL SOBRANTE

$58.62

DN1551918

10/31/2025

SHREDDING SERVICES - MERIDIAN

$105.83

CHK

ul

$164.45

4518

DELL COMPUTER CORP

Invoice

Invoice Date

Comment

Amount

10846747512

11/13/2025

IT HARDWARE

$1,553.92

12/03/2025

ul

$12,600.00

Invoice

12/03/2025

ul

$1,000.00

Invoice

12/03/2025

ul

$617,182.49

Invoice

12/03/2025

ul

ul

$1,553.92
ul

Page 8 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219252

CHK

12/03/2025

10683

DIESEL POLLUTION SOLUTION, INC

Invoice

Invoice Date

Comment

Amount

7898

11/07/2025

EMISSIONS TESTING SERVICES

$180.00

7899

11/07/2025

EMISSIONS TESTING SERVICES

$180.00

7900

11/10/2025

EMISSIONS TESTING SERVICES

$180.00

219253

219254

219255

219256

219257

219258

219259

2/5/2026

CHK

Amount
$540.00

9907

DONALD HARRIGER

Invoice

Invoice Date

Comment

Amount

329210-2

11/12/2025

WATERMASTER SUPPORT SERVICES

$5,300.00

329210-3

11/12/2025

WATERMASTER SUPPORT SERVICES

$3,500.00

80945-25

11/12/2025

WATERMASTER SUPPORT SERVICES

$7,000.00

80945-26

11/12/2025

WATERMASTER SUPPORT SERVICES

$3,700.00

CHK

12/03/2025

$19,500.00

10233

DOPUDJA & WELLS CONSULTING INC

Invoice

Invoice Date

Comment

Amount

2420

11/11/2025

PROFESSIONAL SERVICES - WATER SOLUTIONS COALITION

$1,965.00

CHK

12/03/2025

10761

EARTHLINK, LLC

Invoice Date

Comment

Amount

INV000001953583

12/01/2025

WIRELESS DEDICATED SERVICES

$792.00

INV000001953584

12/01/2025

WIRELESS DEDICATED SERVICES

$330.00

CHK

1043

EASTERN MWD

Invoice Date

Comment

Amount

1125-151235712

11/24/2025

WATER PURCHASED AT LOS ALAMOS ROAD

$50,866.81

CHK

10245

ENVIRONMENTAL SCIENCE ASSOC.

Invoice Date

Comment

Amount

213333

11/11/2025

PROFESSIONAL SERVICES - RIVERSIDE FACILITY MASTER PLAN

$782.50

CHK

107970

Erika Fatten

Invoice Date

Comment

Amount

SPONSORSHIP-111925

11/19/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$500.00

CHK

ul

$500.00

10026

EUROFINS TESTOIL, INC.

Invoice

Invoice Date

Comment

Amount

462692

11/14/2025

OIL SAMPLES AND SUPPLIES

$1,304.32

12/03/2025

ul

$782.50

Invoice

12/03/2025

ul

$50,866.81

Invoice

12/03/2025

ul

$1,122.00

Invoice

12/03/2025

ul

$1,965.00

Invoice

12/03/2025

ul

ul

$1,304.32
ul

Page 9 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219260

CHK

12/03/2025

10169

FAUZIA RIZVI

Invoice

Invoice Date

Comment

Amount

111525

11/15/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$99.40

219261

219262

219263

219264

219265

219266

219267

2/5/2026

CHK

Amount
$99.40

7624

FERGUSON WATERWORKS

Invoice

Invoice Date

Comment

Amount

0893791

11/07/2025

METERS AND METER PARTS

$140.08

CHK

12/03/2025

$140.08

9076

FLYERS ENERGY LLC

Invoice

Invoice Date

Comment

Amount

25-514192

11/07/2025

DIESEL FUEL AND GASOLINE

$3,009.27

25-514932

11/10/2025

DIESEL FUEL AND GASOLINE

$4,680.54

CHK

12/03/2025

9077

FRONTIER COMMUNICATIONS CORP.

Invoice Date

Comment

Amount

1125-0679

11/25/2025

TELEPHONE SERVICES

$205.29

1125-4119

11/25/2025

TELEPHONE SERVICES

$568.39

1125-5499

11/25/2025

TELEPHONE SERVICES

$79.29

CHK

8442

GHD INC.

Invoice Date

Comment

Amount

380-0080698

11/06/2025

PROFESSIONAL SERVICES - WATER AND SEWER PLAN CHECKS

$1,825.00

380-0080699

11/06/2025

PROFESSIONAL SERVICES - TRACT 31799 PLAN CHECKS

$3,525.00

CHK

8067

GOLDEN STATE CONSULTANTS, INC.

Invoice

Invoice Date

Comment

Amount

9753

11/06/2025

CONSTRUCTION INSPECTION SERVICES

$6,192.25

9765

11/11/2025

BACKFLOW PREVENTION AND INSPECTION SERVICES

$361.00

CHK

10344

DBA C.E.C., CUTTING EDGE CATERING

Invoice

Invoice Date

Comment

Amount

5668-FINAL

12/01/2025

CATERING SERVICES - EMPLOYEE RECOGNITION EVENT 2025

$11,752.15

CHK

9743

GRACIE TORRES

Invoice

Invoice Date

Comment

Amount

111525

11/15/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$7.00

12/03/2025

12/03/2025

12/03/2025

ul

$852.97

Invoice

12/03/2025

ul

$7,689.81

Invoice

12/03/2025

ul

ul

$5,350.00
ul

$6,553.25
ul

$11,752.15
ul

$7.00
ul

Page 10 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219268

CHK

12/03/2025

9528

HANSEN, ALLEN & LUCE, INC.

219269

219270

219273

219274

219275

219276

219278

2/5/2026

12/01/2025 to 12/31/2025
Amount
$11,359.25

Invoice

Invoice Date

Comment

Amount

56139

11/12/2025

PROFESSIONAL SERVICES - MURRIETA WATER OPTIMIZATION STUDY

$7,859.50

56140

11/12/2025

PROFESSIONAL SERVICES - HYDRAULIC MODELING SUPPORT

$3,499.75

9480

ICONIX WATERWORKS (US) INC.

Invoice

CHK

Invoice Date

Comment

Amount

U2516046682

11/10/2025

MATERIALS AND PARTS

$5,183.98

CHK

12/03/2025

$5,183.98

10133

INDUSTRIAL SOLUTION SERVICES

Invoice

Invoice Date

Comment

Amount

29258

11/06/2025

DISINFECTING CHEMICALS

$399.99

29259

11/11/2025

DISINFECTING CHEMICALS

$525.41

29260

11/06/2025

DISINFECTING CHEMICALS

$854.22

29308

11/12/2025

DISINFECTING CHEMICALS

$871.17

CHK

107972

JULIAN URIBARRE

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-111925

11/19/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$500.00

CHK

1579

JURUPA COMMUNITY SERVICES DISTRICT

Invoice

Invoice Date

Comment

Amount

2026-00000008

11/24/2025

WRCRWA REGIONAL PUMP STATION AGENCY SHARED COST

$341,917.81

CHK

10205

LAURA ROUGHTON

Invoice

Invoice Date

Comment

Amount

111525

11/15/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$51.10

CHK

12/03/2025

12/03/2025

12/03/2025

12/03/2025

ul

$341,917.81
ul

$51.10

4665

LOWE'S HOME CENTERS, LLC
Comment

977119-PWLMAN

11/13/2025

SUPPLIES AND MATERIALS

$71.13

997510-PWJGJB

11/13/2025

SUPPLIES AND MATERIALS

$80.46

999046-PWLKNH

11/13/2025

SUPPLIES AND MATERIALS

$338.01

ul

$489.60
Amount

9126

MICHAEL MOUSER

Invoice

Invoice Date

Comment

Amount

102225

11/22/2025

EMPLOYEE EXPENSE REIMBURSEMENT - CONFERENCE/TRAVEL

$109.65

110625

11/06/2025

EMPLOYEE EXPENSE REIMBURSEMENT - CONFERENCE/TRAVEL

$59.89

12/03/2025

ul

$500.00

Invoice Date

CHK

ul

$2,650.79

Invoice

12/03/2025

ul

ul

$169.54
ul

Page 11 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219279

CHK

12/03/2025

107971

MICHAELA BRANDON

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-111925

11/19/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$500.00

219280

219281

219282

219284

219285

219286

2/5/2026

CHK

Amount
$500.00

10072

MIKE GARDNER

Invoice

Invoice Date

Comment

Amount

111525

11/15/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$73.36

CHK

12/03/2025

$73.36

107973

NADINE MUGRIDGE

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-111825

11/18/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$500.00

CHK

12/03/2025

2134

OFFICE DEPOT

Invoice Date

Comment

Amount

440037733001

11/05/2025

OFFICE SUPPLIES

$120.80

445154255001

10/22/2025

OFFICE SUPPLIES

$205.16

445426151001

11/06/2025

OFFICE SUPPLIES

$108.76

445510207001

11/06/2025

OFFICE SUPPLIES

$5.96

445510211001

11/05/2025

OFFICE SUPPLIES

$11.04

446930129001

11/11/2025

OFFICE SUPPLIES

$516.49

446932004001

11/11/2025

OFFICE SUPPLIES

$40.37

447459115001

11/07/2025

OFFICE SUPPLIES

$174.07

CHK

107885

PROVOST & PRITCHARD ENGINEERING GROUP, INC.

Invoice Date

Comment

Amount

125090

11/12/2025

PROFESSIONAL SERVICES - WMWD ON-CALL ENGINEERING AND LAND SURVEYING

$5,687.10

CHK

4573

PSOMAS

Invoice Date

Comment

Amount

228279

11/12/2025

GIS STRATEGIC PLAN IMPLEMENTATION

$2,244.75

CHK

ul

$2,244.75

107934

PULSE DESIGN, INC.

Invoice

Invoice Date

Comment

Amount

62605

09/05/2025

SIGNAGE FOR MARCH FIELD AIR MUSEUM LANDSCAPE PROJECT RIBBON CUTTING CEREMONY

$17,035.00

12/03/2025

ul

$5,687.10

Invoice

12/03/2025

ul

$1,182.65

Invoice

12/03/2025

ul

$500.00

Invoice

12/03/2025

ul

ul

$17,035.00
ul

Page 12 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219287

CHK

12/03/2025

8636

QUADIENT FINANCE USA, INC.

219288

219291

219292

219293

219294

219295

2/5/2026

12/01/2025 to 12/31/2025
Amount
$1,000.00

Invoice

Invoice Date

Comment

Amount

11462074-110625

11/06/2025

POSTAGE PURCHASE

$1,000.00

9489

RED WING BUSINESS ADVANTAGE ACCOUNT

Invoice

CHK

Invoice Date

Comment

Amount

20251110029092

11/10/2025

STEEL TOED SAFETY BOOTS

$867.65

CHK

12/03/2025

$867.65

107975

SARAH SCHRIVER

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-111825

11/18/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$1,000.00

CHK

12/03/2025

101080

SHAUN GALVAN

Invoice Date

Comment

Amount

SPONSORSHIP-111725

11/17/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$599.00

CHK

107964

STEVE MAHONEY

Invoice Date

Comment

Amount

SPONSORSHIP-111725

11/17/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$1,000.00

CHK

10691

TDI REFRIGERATION

Invoice Date

Comment

Amount

161775

09/09/2025

AIR CONDITIONING REPAIR SERVICES - EL SOBRANTE

$2,801.44

162168

09/26/2025

THERMOSTAT REPLACEMENT - ARLINGTON DESALTER

$976.35

163442

11/14/2025

ICE MACHINE CLEANING SERVICES - MERIDIAN

$2,589.06

163443

11/14/2025

ICA MACHINE CLEANING SERVICES - MERIDIAN

$2,589.06

CHK

ul

$8,955.91

1142

THE GAS COMPANY

Invoice

Invoice Date

Comment

Amount

1025-15578375

11/17/2025

GAS UTILITY CHARGES

$106.27

1025-15922844

11/14/2025

GAS UTILITY CHARGES

$219.59

1125-15737302

11/21/2025

GAS UTILITY CHARGES

$3,148.09

1125-16410039

11/24/2025

GAS UTILITY CHARGES

$21.57

12/03/2025

ul

$1,000.00

Invoice

12/03/2025

ul

$599.00

Invoice

12/03/2025

ul

$1,000.00

Invoice

12/03/2025

ul

ul

$3,495.52
ul

Page 13 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

Amount

219297

CHK

12/03/2025

8180

ULINE, INC.

$2,958.28

219298

219299

219300

219301

1363007093

1363010437

100426

2/5/2026

Invoice

Invoice Date

Comment

Amount

200510548

11/12/2025

MATERIALS AND SUPPLIES

$2,958.28

7277

WALTERS WHOLESALE ELECTRIC CO

Invoice

CHK

Invoice Date

Comment

Amount

S129175927.002

11/12/2025

MATERIALS AND SUPPLIES

$358.19

CHK

12/03/2025

$358.19

1217

WASTE MANAGEMENT OF THE INLAND EMPIRE

Invoice

Invoice Date

Comment

Amount

7976675-2371-7

11/24/2025

COMMERCIAL WASTE DISPOSAL

$351.41

CHK

12/03/2025

7572

WESTERN ENTERPRISES SUPPLY, INC

Invoice Date

Comment

Amount

145465

11/11/2025

MATERIALS AND SUPPLIES

$2,610.00

CHK

2997

PETTY CASH

Invoice Date

Comment

Amount

120125-HQ

12/03/2025

REPLENISH PETTY CASH - HQ

$1,998.60

WIR

9476

GREAT-WEST LIFE & ANNUITY INSURANCE

Invoice Date

Comment

Amount

120425-457

12/04/2025

457 PLAN FUNDING

$63,546.95

WIR

9476

GREAT-WEST LIFE & ANNUITY INSURANCE

Invoice Date

Comment

Amount

120425-401A

12/04/2025

401A PLAN FUNDING

$48,380.39

ACH

ul

$48,380.39

107725

ATMOSPHERIC ANALYSIS AND CONSULTING, INC.

Invoice

Invoice Date

Comment

Amount

A-34112

11/17/2025

DIGESTER GAS ANALYSIS

$365.00

12/10/2025

ul

$63,546.95

Invoice

12/04/2025

ul

$1,998.60

Invoice

12/04/2025

ul

$2,610.00

Invoice

12/03/2025

ul

$351.41

Invoice

12/03/2025

ul

ul

$365.00
ul

Page 14 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100427

ACH

12/10/2025

1017

BABCOCK LABORATORIES INC

100428

100429

100430

100431

2/5/2026

12/01/2025 to 12/31/2025
Amount
$10,074.30

Invoice

Invoice Date

Comment

Amount

CK50830-7136

11/17/2025

WATER TESTING SERVICES

$669.00

CK50842-7136

11/17/2025

WATER TESTING SERVICES

$12.00

CK50843-7136

11/17/2025

WATER TESTING SERVICES

$223.50

CK50849-7135

11/17/2025

WATER TESTING SERVICES

$134.50

CK50850-7135

11/17/2025

WATER TESTING SERVICES

$101.00

CK50896-7135

11/17/2025

WATER TESTING SERVICES

$44.00

CK50897-7135

11/17/2025

WATER TESTING SERVICES

$22.00

CK50940-7135

11/18/2025

WATER TESTING SERVICES

$1,195.00

CK50945-7137

11/18/2025

WATER TESTING SERVICES

$372.90

CK51039-7135

11/19/2025

WATER TESTING SERVICES

$363.00

CK51054-7138

11/19/2025

WATER TESTING SERVICES

$414.46

CK51059-7136

11/19/2025

WATER TESTING SERVICES

$12.00

CK51064-7136

11/19/2025

WATER TESTING SERVICES

$230.50

CK51066-7136

11/19/2025

WATER TESTING SERVICES

$887.50

CK51068-7135

11/19/2025

WATER TESTING SERVICES

$341.00

CK51107-7140

11/19/2025

WATER TESTING SERVICES

$4,545.94

CK51179-7135

11/20/2025

WATER TESTING SERVICES

$506.00

5988

BARRY'S SECURITY SERVICE, INC

Invoice

ACH

Invoice Date

Comment

Amount

103605

11/17/2025

SECURITY SERVICES - ARLINGTON DESALTER

$1,026.00

103616

11/17/2025

SECURITY SERVICES - MERIDIAN

$210.00

103625

11/17/2025

SECURITY SERVICES - EL SOBRANTE

$1,754.18

103628

11/17/2025

SECURITY SERVICES - MERIDIAN

$1,261.09

ACH

12/10/2025

$4,251.27

10086

BAY CITY INDUSTRIAL SUPPLY

Invoice

Invoice Date

Comment

Amount

303993

11/06/2025

MATERIALS AND SUPPLIES

$2,378.96

ACH

12/10/2025

8252

BH ELECTRIC, INC

Invoice Date

Comment

Amount

3355

10/01/2025

ELECTRICAL SERVICES - INSTALL CAR CHARGERS AT EL SOBRANTE

$6,157.34

ACH

ul

$6,157.34

10689

BRADYPLUS

Invoice

Invoice Date

Comment

Amount

10916412

11/20/2025

GENERAL SUPPLIES

$456.30

12/10/2025

ul

$2,378.96

Invoice

12/10/2025

ul

ul

$456.30
ul

Page 15 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100432

ACH

12/10/2025

6305

C WELLS PIPELINE MATERIALS

100434

100435

100436

100437

100439

100440

100441

2/5/2026

12/01/2025 to 12/31/2025
Amount
$3,812.63

Invoice

Invoice Date

Comment

Amount

SINV25-5287

11/18/2025

PIPELINE REPAIR MATERIAL

$484.88

SINV25-5344

11/20/2025

PIPELINE REPAIR MATERIAL

$3,327.75

10061

CHEROKEE CHEMICAL CO INC

Invoice

ACH

Invoice Date

Comment

Amount

0506544-IN

11/20/2025

MONTHLY TESTING AND SERVICES

$500.00

ACH

12/10/2025

$500.00

1037

CITY OF CORONA

Invoice

Invoice Date

Comment

Amount

AR97204

11/12/2025

REIMBURSE SHARE OF COSTS FOR THE IEBL TRUCK DISCHARGE STATION

$55.24

ACH

12/10/2025

9771

COMMERCE HOSE & INDUSTRIAL PRODUCTS

Invoice Date

Comment

Amount

00087033

11/17/2025

GENERAL SUPPLIES

$381.95

ACH

6304

CPACINC.COM

Invoice Date

Comment

Amount

SI-1302202

11/18/2025

BARRACUDA WEBSITE FILER UPDATES AND REPLACEMENT WARRANTY

$3,118.80

ACH

7420

DUDEK

Invoice Date

Comment

Amount

202509731

11/20/2025

PROFESSIONAL SERVICES - MCKINLEY GRADE SEPARATION

$2,520.00

ACH

7451

EHS INTERNATIONAL, INC.

Invoice Date

Comment

Amount

3-21297R

11/20/2025

SAFETY TRAINING - RESPIRATOR FIT TESTING AWARENESS

$1,045.00

ACH

ul

$1,045.00

8554

FASTENAL COMPANY

Invoice

Invoice Date

Comment

Amount

CARI1121890

11/17/2025

GENERAL SUPPLIES

$99.69

12/10/2025

ul

$2,520.00

Invoice

12/10/2025

ul

$3,118.80

Invoice

12/10/2025

ul

$381.95

Invoice

12/10/2025

ul

$55.24

Invoice

12/10/2025

ul

ul

$99.69
ul

Page 16 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

Amount

100442

ACH

12/10/2025

1157

FRITTS FORD

$17,363.52

100443

100444

100445

100446

2/5/2026

Invoice

Invoice Date

Comment

Amount

282433

10/21/2025

AUTO SERVICES

$68.21

282474

10/23/2025

AUTO SERVICES

$264.04

282665

11/04/2025

AUTO SERVICES

$136.42

282705

11/06/2025

AUTO SERVICES

$230.99

282861

11/14/2025

AUTO SERVICES

$1,009.50

447266

11/14/2025

AUTO SERVICES

$64.26

D65817

11/17/2025

AUTO SERVICES

$15,118.99

F66782

11/03/2025

AUTO SERVICES

$125.00

F67108

11/10/2025

AUTO SERVICES

$346.11

9755

CALIFORNIA INTERNET LP

Invoice

ACH

Invoice Date

Comment

Amount

BD0264717

12/01/2025

INTERNET SERVICES

$350.00

ACH

12/10/2025

$350.00

1452

GRAINGER

Invoice

Invoice Date

Comment

Amount

9714631802

11/17/2025

MATERIALS AND SUPPLIES

$268.69

9717930987

11/19/2025

MATERIALS AND SUPPLIES

$20.76

9719800493

11/20/2025

MATERIALS AND SUPPLIES

$297.76

ACH

12/10/2025

10133

INDUSTRIAL SOLUTION SERVICES

Invoice Date

Comment

Amount

29309

11/12/2025

DISINFECTING CHEMICALS

$738.97

29362

11/19/2025

DISINFECTING CHEMICALS

$949.13

29363

11/19/2025

DISINFECTING CHEMICALS

$203.39

ACH

ul

$1,891.49

7085

INLAND LIGHTING SUPPLIES INC

Invoice

Invoice Date

Comment

Amount

301088

11/17/2025

SUPPLIES AND MATERIALS

$1,298.48

12/10/2025

ul

$587.21

Invoice

12/10/2025

ul

ul

$1,298.48
ul

Page 17 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100449

ACH

12/10/2025

4419

KENNEDY JENKS CONSULTANTS

100450

100451

100452

2/5/2026

12/01/2025 to 12/31/2025
Amount
$12,506.25

Invoice

Invoice Date

Comment

Amount

184185

11/19/2025

PROFESSIONAL SERVICES - GRANT REPORTING

$2,948.75

184186

11/19/2025

GRANT REPORTING SERVICES - WATER USE EFFICIENCY MARCH FIELD AIR MUSEUM LANDSCAPING PROJECT

$71.25

184187

11/19/2025

PROFESSIONAL SERVICES - DROUGHT RESILIENCY GRANT ADMINISTRATION

$1,852.50

184188

11/19/2025

PROFESSIONAL SERVICES - RECYCLED AND GROUNDWATER DESALTER EXPANSION

$600.00

184189

11/19/2025

GRANT PROGRAM SUPPORT SERVICES

$5,533.75

184190

11/19/2025

PROFESSIONAL SERVICES - GIS DATA ACQUISITION

$750.00

184191

11/19/2025

PROFESSIONAL SERVICES - SCADA PHASE 2

$750.00

10768

KENNETH SMITH

Invoice

ACH

Invoice Date

Comment

Amount

101025

12/08/2025

EMPLOYEE TRAVEL AND EVENT EXPENSE REIMBURSEMENT

$228.98

ACH

12/10/2025

$228.98

3049

KRIEGER & STEWART, INC

Invoice

Invoice Date

Comment

Amount

51587

11/19/2025

PROFESSIONAL SERVICES - OAKVIEW APARTMENTS MURRIETA

$482.00

51588

11/19/2025

PROFESSIONAL SERVICES - OAKVIEW APARTMENTS MURRIETA

$485.50

51589

11/19/2025

PROFESSIONAL SERVICES - TR 37731 ON-SITE WATER

$8,313.00

51590

11/19/2025

PROFESSIONAL SERVICES - CAJALCO SQUARE

$788.00

51591

11/19/2025

PROFESSIONAL SERVICES - OBSERVATIONS / STAND-BY

$1,466.00

51592

11/19/2025

PROFESSIONAL SERVICES - VAN BUREN SEWER EXTENSION

$255.00

51593

11/19/2025

PROFESSIONAL SERVICES - VAN BUREN RETAIL CENTER WATER

$255.00

51594

11/19/2025

PROFESSIONAL SERVICES - TR 38094 TAYLOR MORRIS ON-STE SEWER

$284.50

51595

11/19/2025

PROFESSIONAL SERVICES - TR 38094 TAYLOR MORRIS ON-STE WATER

$7,228.60

51596

11/19/2025

PROFESSIONAL SERVICES - VIA VERRAZANO

$1,184.50

51597

11/19/2025

PROFESSIONAL SERVICES - TRACT 37199 STAND BY/OBSERVATION

$12,163.30

51598

11/19/2025

PROFESSIONAL SERVICES - MARB GAS LINE REPLACEMENT

$15,845.00

51599

11/19/2025

PROFESSIONAL SERVICES - MS MERIDIAN RIVERSIDE

$1,564.50

51600

11/19/2025

PROFESSIONAL SERVICES - MARB KC 49 WATER

$452.00

51601

11/19/2025

PROFESSIONAL SERVICES - DOWNTOWN MARKET PLACE MURRIETA

$469.50

ACH

12/10/2025

ul

$51,236.40

107962

ZOHO CORPORATION

Invoice

Invoice Date

Comment

Amount

5020030891

11/19/2025

IT SUBSCRIPTION - CYBERSECURITY

$5,388.00

12/10/2025

ul

ul

$5,388.00
ul

Page 18 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100453

ACH

12/10/2025

10588

R&S OVERHEAD DOOR

100454

100455

100457

100458

100459

100460

100461

100462

2/5/2026

12/01/2025 to 12/31/2025
Amount
$5,292.44

Invoice

Invoice Date

Comment

Amount

13613

11/14/2025

OVERHEAD DOOR WORK - WWRF

$5,292.44

107819

RICK ARAGON

Invoice

ACH

Invoice Date

Comment

Amount

110625

11/06/2025

EMPLOYEE EXPENSE REIMBURSEMENT - CONFERENCE/TRAVEL

$31.74

ACH

12/10/2025

$31.74

107953

RIGHT-HAND CYBER SECURITY, INC.

Invoice

Invoice Date

Comment

Amount

INV-WMWD001

10/28/2025

CYBERSECURITY AWARENESS TRAINING

$4,000.00

ACH

12/10/2025

1127

SAWPA

Invoice Date

Comment

Amount

10798

10/31/2025

BRINELINE TRUCK DISCHARGES - OCTOBER 2025

$6,051.89

10804

10/31/2025

BRINELINE DISCHARGE MONTHLY FIXED & VARIABLE CHARGES - OCTOBER 2025

$375,259.31

ACH

10710

SVT FLEET SOLUTIONS

Invoice Date

Comment

Amount

20000293-111825

11/18/2025

FLEET MANAGEMENT SERVICES

$3,430.00

ACH

4840

TEMECULA VALLEY CHAMBER OF COMMERCE

Invoice Date

Comment

Amount

SPONSORSHIP-120325

12/03/2025

SPONSORSHIP: SOUTHWEST CA LEGISLATIVE COUNCIL

$1,000.00

ACH

4737

THE FERGUSON GROUP LLC

Invoice Date

Comment

Amount

INV5297

10/31/2025

FEDERAL PUBLIC POLICY ADVOCACY SERVICES EXPENSE REIMBURSEMENT - OCTOBER 2025

$450.64

ACH

7126

UNITED WAY OF INLAND VALLEY

Invoice Date

Comment

Amount

120325

12/03/2025

EMPLOYEE PAYROLL DONATIONS

$122.00

ACH

ul

$122.00

10272

VANDERMOST CONSULTING SERVICES

Invoice

Invoice Date

Comment

Amount

26123

11/17/2025

PROFESSIONAL SERVICES - MILLS GRAVITY LINE EASEMENT

$2,413.25

12/10/2025

ul

$450.64

Invoice

12/10/2025

ul

$1,000.00

Invoice

12/10/2025

ul

$3,430.00

Invoice

12/10/2025

ul

$381,311.20

Invoice

12/10/2025

ul

$4,000.00

Invoice

12/10/2025

ul

ul

$2,413.25
ul

Page 19 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

Amount

100463

ACH

12/10/2025

10375

WATERLINE TECHNOLOGIES INC

$6,389.28

100465

100466

100467

100468

219303

219304

2/5/2026

Invoice

Invoice Date

Comment

Amount

5771221

11/17/2025

HYPOCHLORITE SOLUTIONS

$1,044.33

5771222

11/17/2025

HYPOCHLORITE SOLUTIONS

$791.16

5771658

11/20/2025

HYPOCHLORITE SOLUTIONS

$791.16

5771659

11/20/2025

HYPOCHLORITE SOLUTIONS

$3,762.63

7980

WEST COAST SAND & GRAVEL INC

Invoice

ACH

Invoice Date

Comment

902894

11/12/2025

COLD MIX TEMPORARY ASPHALT

$1,764.61

903068

11/12/2025

CLASS 2 AGGREGATE BASE

$528.84

ACH

12/10/2025

$2,293.45
Amount

10647

WETMORE'S

Invoice

Invoice Date

Comment

Amount

05P42755

11/20/2025

MATERIALS AND SUPPLIES

$861.35

05P42761

11/20/2025

MATERIALS AND SUPPLIES

$861.35

ACH

12/10/2025

1315

WRCRWA

Invoice Date

Comment

Amount

IN-2710

11/17/2025

FLOW CHARGES - TREATMENT AND CONVEYANCE - OCTOBER 2025

$36,370.47

IN-2715

11/17/2025

FIXED CHARGES - TREATMENT AND CONVEYANCE - DECEMBER 2025

$87,125.11

ACH

7906

YORKE ENGINEERING, LLC

Invoice Date

Comment

Amount

46977

11/20/2025

AIR QUALITY ENVIRONMENTAL AND SAFETY SERVIES

$1,633.50

46978

11/20/2025

AIR QUALITY ENVIRONMENTAL AND SAFETY SERVIES

$5,922.50

46979

11/20/2025

AIR QUALITY ENVIRONMENTAL AND SAFETY SERVIES

$1,857.00

CHK

10688

AARON CHEVROLET

Invoice Date

Comment

Amount

5094318

09/29/2025

MATERIALS AND SERVICES

$1,828.79

5094436

10/01/2025

MATERIALS AND SERVICES

$1,686.12

5095065

10/14/2025

MATERIALS AND SERVICES

$491.22

5095237

10/17/2025

MATERIALS AND SERVICES

$400.46

CHK

ul

$4,406.59

107935

ACCENTURE INFRASTRUCTURE AND CAPITAL PROJECTS INC

Invoice

Invoice Date

Comment

Amount

36234

11/19/2025

PROFESSIONAL SERVICES - 1269 FORCE MAIN REPLACEMENT PROJECT

$14,345.00

12/10/2025

ul

$9,413.00

Invoice

12/10/2025

ul

$123,495.58

Invoice

12/10/2025

ul

$1,722.70

Invoice

12/10/2025

ul

ul

$14,345.00
ul

Page 20 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219305

CHK

12/10/2025

6521

ADVANCED UTILITY SYSTEMS

219306

219307

219308

219309

219311

219312

219313

219314

2/5/2026

12/01/2025 to 12/31/2025
Amount
$98,315.92

Invoice

Invoice Date

Comment

Amount

ADVMN0000869

09/30/2025

CIS INFINITY SUPPORT

$98,315.92

101351

ALLISON WAGNER

Invoice

CHK

Invoice Date

Comment

Amount

SPONSORSHIP-112625

11/26/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$645.00

CHK

12/10/2025

$645.00

10415

ARELLANO ASSOCIATES, LLC

Invoice

Invoice Date

Comment

Amount

23240

11/13/2025

WEBSITE SUPPORT SERVICES AND GIS MAPPING

$151.32

CHK

12/10/2025

6568

AT&T CALNET

Invoice Date

Comment

Amount

000024422215

11/28/2025

TELEPHONE SERVICES

$31.00

CHK

10684

BACKFLOW SOLUTIONS INC.

Invoice Date

Comment

Amount

10857

11/18/2025

CROSS CONNECTION AND BACKFLOW SERVICES

$627.15

CHK

107807

BIG BEN INC.

Invoice Date

Comment

Amount

4-W-317

11/26/2025

CIP PROJECT - JEFFERSON AVENUE INTERCONNECTION PROJECT

$461,011.99

CHK

4697

BURRTEC WASTE INDUSTRIES INC

Invoice Date

Comment

Amount

N0821031703

12/01/2025

TRASH/RECYCLE SERVICES - ARLINGTON DESALTER

$144.36

CHK

5634

CALIFORNIA MUNICIPAL STATISTIC

Invoice Date

Comment

Amount

25111813

11/18/2025

DIRECT AND OVERLAPPING DEBT STATEMENT

$600.00

CHK

ul

$600.00

107849

CANON U.S.A., INC.

Invoice

Invoice Date

Comment

Amount

6013896076

11/09/2025

COPIER MAINTENANCE AND SUPPLIES

$799.48

6013896271

11/09/2025

COPIER MAINTENANCE AND SUPPLIES

$3.05

6013911140

11/12/2025

COPIER MAINTENANCE AND SUPPLIES

$126.66

12/10/2025

ul

$144.36

Invoice

12/10/2025

ul

$461,011.99

Invoice

12/10/2025

ul

$627.15

Invoice

12/10/2025

ul

$31.00

Invoice

12/10/2025

ul

$151.32

Invoice

12/10/2025

ul

ul

$929.19
ul

Page 21 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219316

CHK

12/10/2025

4698

CDW GOVERNMENT INC

219317

219318

219319

219335

219336

2/5/2026

12/01/2025 to 12/31/2025
Amount
$113,750.00

Invoice

Invoice Date

Comment

Amount

AG9IJI4

11/18/2025

MATERIALS PARTS AND SUPPLIES

$113,750.00

10284

CHARTER COMMUNICATIONS

Invoice

CHK

Invoice Date

Comment

Amount

188816101120125

12/01/2025

INTERNET SERVICES

$1,399.00

CHK

12/10/2025

$1,399.00

7960

CHRIS OTJEN

Invoice

Invoice Date

Comment

Amount

120325

12/03/2025

EMPLOYEE EXPENSE REIMBURSEMENT - DEPARTMENT ANNUAL APPRECIATION LUNCH

$280.00

CHK

12/10/2025

9571

CINTAS FIRST AID & SAFETY

Invoice Date

Comment

Amount

4250069246

11/17/2025

UNIFORMS

$106.72

4250290863

11/18/2025

SAFETY PPE

$207.01

4250291192

11/18/2025

UNIFORMS

$1,280.45

4250474608

11/19/2025

UNIFORMS

$277.77

CHK

1112

CITY OF RIVERSIDE

Invoice Date

Comment

Amount

1025-0226890001

11/21/2025

ELECTRICITY UTILITY CHARGES

$822.29

1025-0235133000

11/21/2025

WATER UTILITY CHARGES

$52.56

1025-253273-199463

11/24/2025

WATER UTILITY CHARGES

$50.31

1025-253273-199464

11/24/2025

WATER UTILITY CHARGES

$48.16

1025-253273-202997

11/24/2025

WATER UTILITY CHARGES

$48.16

1125-0136386000

11/26/2025

ELECTRICITY UTILITY CHARGES

$40.78

1125-0228558000

11/26/2025

ELECTRICITY UTILITY CHARGES

$69.39

1125-253273-117157

11/26/2025

ELECTRICITY UTILITY CHARGES

$41.49

1125-253273-117159

11/26/2025

ELECTRICITY UTILITY CHARGES

$38.87

1125-253273-186078

11/26/2025

ELECTRICITY UTILITY CHARGES

$8,185.55

1125-253273-186079

11/26/2025

ELECTRICITY UTILITY CHARGES

$11,333.38

1125-257970-201838

11/26/2025

ELECTRICITY UTILITY CHARGES

$40.43

CHK

ul

$20,771.37

100864

CORONA NORCO UNIFIED SCHOOL DISTRICT

Invoice

Invoice Date

Comment

Amount

112625

11/26/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$1,000.00

12/10/2025

ul

$1,871.95

Invoice

12/10/2025

ul

$280.00

Invoice

12/10/2025

ul

ul

$1,000.00
ul

Page 22 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219337

CHK

12/10/2025

10661

CRANEVEYOR CORP.

219339

219340

219341

219342

219343

219344

219345

219347

2/5/2026

12/01/2025 to 12/31/2025
Amount
$2,280.00

Invoice

Invoice Date

Comment

Amount

77396

10/24/2025

CRANE MAINTENANCE

$2,280.00

4518

DELL COMPUTER CORP

Invoice

CHK

Invoice Date

Comment

Amount

10847466251

11/18/2025

IT HARDWARE

$1,423.01

CHK

12/10/2025

$1,423.01

7168

DELTA MOPTOR CO, INC

Invoice

Invoice Date

Comment

Amount

25694

11/20/2025

MOTOR REPAIR SERVICES

$5,284.38

CHK

12/10/2025

107817

DELTONYA RAWLINS

Invoice Date

Comment

Amount

SPONSORSHIP-112625

11/26/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$1,000.00

CHK

1406

DEPARTMENT OF ENVIRONMENTAL HEALTH

Invoice Date

Comment

Amount

IN1067906

12/01/2025

ENVIRONMENTAL HEALTH PERMIT

$739.00

IN1068458

01/01/2026

ENVIRONMENTAL HEALTH PERMIT

$1,052.00

IN1068470

01/01/2026

ENVIRONMENTAL HEALTH PERMIT

$1,052.00

IN1068559

01/01/2026

ENVIRONMENTAL HEALTH PERMIT

$1,052.00

CHK

7050

DIRECTV

Invoice Date

Comment

Amount

083539502X251201

12/01/2025

INTERNET SERVICES

$119.99

CHK

1043

EASTERN MWD

Invoice Date

Comment

Amount

1225-947

12/01/2025

WHEELING CHARGE EM-17

$7,589.01

CHK

10169

FAUZIA RIZVI

Invoice Date

Comment

Amount

112925

11/29/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$4.90

CHK

ul

$4.90

10763

FIRST AMERICAN ADMINISTRATORS,

Invoice

Invoice Date

Comment

Amount

1000780364

04/01/2025

PRESCRIPTION SAFETY GLASSES

$355.94

12/10/2025

ul

$7,589.01

Invoice

12/10/2025

ul

$119.99

Invoice

12/10/2025

ul

$3,895.00

Invoice

12/10/2025

ul

$1,000.00

Invoice

12/10/2025

ul

$5,284.38

Invoice

12/10/2025

ul

ul

$355.94
ul

Page 23 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219348

CHK

12/10/2025

9076

FLYERS ENERGY LLC

219349

219350

219351

219352

2/5/2026

12/01/2025 to 12/31/2025
Amount
$4,414.61

Invoice

Invoice Date

Comment

Amount

25-520665

11/18/2025

DIESEL FUEL AND GASOLINE

$3,047.40

CFS-4438311

11/15/2025

DIESEL FUEL AND GASOLINE

$1,367.21

9682

FRANK SAUCEDO

Invoice

CHK

Invoice Date

Comment

Amount

BOOTS-111725

12/01/2025

STEEL TOED SAFETY BOOTS REIMBURSEMENT

$286.75

CHK

12/10/2025

$286.75

9077

FRONTIER COMMUNICATIONS CORP.

Invoice

Invoice Date

Comment

Amount

1225-0168

12/01/2025

TELEPHONE SERVICES

$1,269.50

1225-0782

12/04/2025

TELEPHONE SERVICES

$622.79

CHK

12/10/2025

10259

GEOCIVIX LLC

Invoice Date

Comment

Amount

1699

11/18/2025

GIS INTEGRATION MAINTENANCE SERVICES

$3,240.00

CHK

ul

$3,240.00

8067

GOLDEN STATE CONSULTANTS, INC.

Invoice

Invoice Date

Comment

Amount

9783

11/17/2025

CROSS CONNECTION AND BACKFLOW SERVICES

$4,009.00

9784

11/17/2025

CROSS CONNECTION AND BACKFLOW SERVICES

$3,139.00

9785

11/19/2025

CONSTRUCTIONS INSPECTION SERVICES

$1,231.00

9786

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$5,763.50

9787

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$667.50

9788

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$1,127.50

9789

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$3,303.50

9790

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$667.50

9791

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$667.50

9792

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$345.50

9793

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$426.00

9794

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$345.50

9795

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$265.00

9796

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$667.50

9797

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$207.50

9798

11/19/2025

CONSTRUCTION INSPECTION SERVICES

$345.50

9808

11/20/2025

CONSTRUCTION INSPECTION SERVICES

$4,326.00

9809

11/20/2025

CONSTRUCTION INSPECTION SERVICES

$1,529.00

12/10/2025

ul

$1,892.29

Invoice

12/10/2025

ul

ul

$29,033.50
ul

Page 24 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219353

CHK

12/10/2025

107878

HANDEL'S HOMEMADE ICE CREAM

219355

219356

219358

219360

219361

219362

219363

219364

2/5/2026

12/01/2025 to 12/31/2025
Amount
$1,580.00

Invoice

Invoice Date

Comment

Amount

233

10/28/2025

EMPLOYEE RECOGNITION EVENT

$1,580.00

2859

HOME DEPOT INCORPORATED

Invoice

CHK

Invoice Date

Comment

Amount

7902776

11/20/2025

MATERIALS AND SUPPLIES

$137.88

CHK

12/10/2025

$137.88

9480

ICONIX WATERWORKS (US) INC.

Invoice

Invoice Date

Comment

Amount

U2516047816

11/19/2025

GENERAL SUPPLIES

$394.16

U2516048083

11/20/2025

STEEL TOED SAFETY BOOTS

$173.31

CHK

12/10/2025

10213

KAUFMAN LEGAL GROUP

Invoice Date

Comment

Amount

73854

11/17/2025

ANNUAL LOBBYING REPORTING FEES

$500.00

CHK

10205

LAURA ROUGHTON

Invoice Date

Comment

Amount

112925

11/29/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$47.60

CHK

9542

LEE & RO, INC.

Invoice Date

Comment

Amount

1278/08

10/29/2025

PROFESSIONAL SERVICES - WELL 7 EQUIPPING & PIPELINE PROJECT

$5,874.61

1284/04

11/19/2025

ENGINEERING SERVICES - RECYCLED WATER POND EROSION PREVENTION WWRF

$5,871.50

CHK

4665

LOWE'S HOME CENTERS, LLC

Invoice Date

Comment

Amount

980029-PXDNZK

11/19/2025

PARTS AND SUPPLIES

$186.69

985307-PXXUGY

11/14/2025

PARTS AND SUPPLIES

$141.73

999062-PXPFRA

09/25/2025

PARTS AND SUPPLIES

$447.37

CHK

9153

MICHAEL HADLEY

Invoice Date

Comment

Amount

110725

12/08/2025

EMPLOYEE EXPENSE REIMBURSEMENT - CONFERENCE/TRAVEL

$20.00

CHK

ul

$20.00

10072

MIKE GARDNER

Invoice

Invoice Date

Comment

Amount

112925

11/29/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$14.21

12/10/2025

ul

$775.79

Invoice

12/10/2025

ul

$11,746.11

Invoice

12/10/2025

ul

$47.60

Invoice

12/10/2025

ul

$500.00

Invoice

12/10/2025

ul

$567.47

Invoice

12/10/2025

ul

ul

$14.21
ul

Page 25 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219365

CHK

12/10/2025

7248

MSC INDUSTRIAL SUPPLY COMPANY

Invoice

Invoice Date

Comment

Amount

74313440

11/14/2025

MATERIALS AND SUPPLIES

$441.26

74602230

11/17/2025

MATERIALS AND SUPPLIES

$16.36

219366

219368

219370

219371

219372

219373

219374

219376

2/5/2026

CHK

Amount
$457.62

1079

MUNICIPAL WATER DISTRICT OF ORANGE COUNTY

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-120325

12/03/2025

SPONSORSHIP - 2026 WATER POLICY FORUM

$1,350.00

CHK

12/10/2025

$1,350.00

2134

OFFICE DEPOT

Invoice

Invoice Date

Comment

Amount

448574707001

11/19/2025

OFFICE SUPPLIES

$70.76

CHK

12/10/2025

10027

PONTON INDUSTRIES INC

Invoice Date

Comment

Amount

32583

10/29/2025

DEVICE FOR BOOSTER PUMP AT ARLINGTON DESALTER

$4,605.89

32628

11/06/2025

DEVICE FOR BOOSTER PUMP AT ARLINGTON DESALTER

$1,566.69

CHK

9437

QUINN COMPANY

Invoice Date

Comment

Amount

BOG00001734

10/16/2025

AUTO PARTS

$1,603.27

CHK

1132

RANCHO CALIFORNIA WATER DISTRICT

Invoice Date

Comment

Amount

1125-98031163

11/25/2025

ROCK MOUNTAIN WATER SERVICE

$5,302.97

CHK

7594

RIVERSIDE COMMUNITY COLLEGE DISTRICT

Invoice Date

Comment

Amount

SPONSORSHIP-120325

12/03/2025

SPONSORSHIP: 2026 INDUSTRY PARTNERS & AWARDS BREAKFAST

$3,000.00

CHK

8091

RIVERSIDE HIGHLAND WATER COMPANY

Invoice Date

Comment

Amount

5291-1225

12/04/2025

ANNUAL ASSESSMENT FOR SHARES

$17.30

CHK

ul

$17.30

1131

SCE

Invoice

Invoice Date

Comment

Amount

1025-1524

11/20/2025

ELECTRICITY UTILITY CHARGES

$229,264.19

1125-8853500

11/24/2025

ELECTRICITY UTILITY CHARGES

$23,248.20

12/10/2025

ul

$3,000.00

Invoice

12/10/2025

ul

$5,302.97

Invoice

12/10/2025

ul

$1,603.27

Invoice

12/10/2025

ul

$6,172.58

Invoice

12/10/2025

ul

$70.76

Invoice

12/10/2025

ul

ul

$252,512.39
ul

Page 26 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219377

CHK

12/10/2025

1653

STATE WATER RESOURCES CONTROL BOARD

219378

219379

219380

219381

219382

219384

219385

2/5/2026

12/01/2025 to 12/31/2025
Amount
$65,951.00

Invoice

Invoice Date

Comment

Amount

WD-0310358

11/19/2025

ANNUAL PERMIT FEES FACILITY ID 8 330700001

$32,505.00

WD-0310423

11/19/2025

ANNUAL PERMIT FEES FACILITY ID 8SS010637

$21,150.00

WD-0310604

11/19/2025

ANNUAL PERMIT FEES FACILITY ID 8 332891001

$3,630.00

WD-0310660

11/19/2025

ANNUAL PERMIT FEES FACILITY ID 4DW0551

$4,158.00

WD-0310975

11/19/2025

ANNUAL PERMIT FEES FACILITY ID 63-332023-24

$563.00

WD-0311142

11/19/2025

ANNUAL PERMIT FEES FACILITY ID 9SSO11213

$3,945.00

10691

TDI REFRIGERATION

Invoice

CHK

Invoice Date

Comment

Amount

161025

08/15/2025

PUMP STATION REPAIR SERVICES - ARLINGTON DESALTER

$659.50

CHK

12/10/2025

$659.50

9502

TEMPRESCO, INC.

Invoice

Invoice Date

Comment

Amount

SI021223

11/14/2025

SAFETY RELIEF VALVE

$940.48

CHK

12/10/2025

1142

THE GAS COMPANY

Invoice Date

Comment

Amount

1125-15738431

11/26/2025

GAS UTILITY CHARGES

$897.61

1125-15905710

11/26/2025

GAS UTILITY CHARGES

$18.05

1125-16342026

11/25/2025

GAS UTILITY CHARGES

$21.58

CHK

7755

THOMAS HARDER & CO.

Invoice Date

Comment

Amount

25-028-119.4

11/18/2025

HYDROGEOLOGICAL CONSULTING SERVICES - ARLINGTON DESALTER REPLACEMENT WELL PRELIMINARY DESIGN

$1,945.00

CHK

9748

TKE ENGINEERING INC.

Invoice Date

Comment

Amount

2025-1635

11/19/2025

CONSTRUCTION MANAGEMENT AND INSPECTION SERVICES - POWER GENERATOR MOCKINGBIRD PUMP STATION

$16,939.68

CHK

8180

ULINE, INC.

Invoice Date

Comment

Amount

200728079

11/18/2025

MATERIALS AND SUPPLIES

$361.50

200869677

11/20/2025

MATERIALS AND SUPPLIES

$7,100.78

CHK

ul

$7,462.28

10082

UNITED PET CARE LLC

Invoice

Invoice Date

Comment

Amount

120825

12/08/2025

VOLUNTARY EMPLOYEE-PAID BENEFIT - DECEMBER 2025

$630.50

12/10/2025

ul

$16,939.68

Invoice

12/10/2025

ul

$1,945.00

Invoice

12/10/2025

ul

$937.24

Invoice

12/10/2025

ul

$940.48

Invoice

12/10/2025

ul

ul

$630.50
ul

Page 27 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219386

CHK

12/10/2025

7133

VICTOR CANO

Invoice

Invoice Date

Comment

Amount

120425

12/04/2025

EMPLOYEE EXPENSE REIMBURSEMENT - TRAINING/TRAVEL

$665.13

219388

219389

219390

219392

219393

219394

020

100469

2/5/2026

CHK

Amount
$665.13

1217

WASTE MANAGEMENT OF THE INLAND EMPIRE

Invoice

Invoice Date

Comment

Amount

5977635-2371-4

11/24/2025

COMMERCIAL WASTE DISPOSAL

$151.14

7976806-2371-8

11/24/2025

COMMERCIAL WASTE DISPOSAL

$2,486.88

7977195-2371-5

11/24/2025

COMMERCIAL WASTE DISPOSAL

$767.15

CHK

12/10/2025

$3,405.17

10040

WATER SYSTEMS CONSULTING, INC.

Invoice

Invoice Date

Comment

Amount

11786

10/31/2025

ARLINGTON GSA ADMINISTRATION SERVICES

$1,497.50

CHK

12/10/2025

10260

WHITE CAP CONSTRUCTION SUPPLY

Invoice Date

Comment

Amount

50034329997

11/17/2025

MATERIALS AND SUPPLIES

$45.44

CHK

7127

WMWD EMPLOYEE ASSOCIATION

Invoice Date

Comment

Amount

120325

12/03/2025

EMPLOYEE PAYROLL DUES

$705.00

CHK

107960

CIVIA INC. DBA GOVAI

Invoice Date

Comment

Amount

INV-0106

10/14/2025

GOVAI ENTERPRISE SUBSCRIPTION

$4,950.00

CHK

1212

ACWA/JPIA

Invoice Date

Comment

Amount

120925

12/09/2025

WORKERS COMPENSATION INSURANCE PREMIUM FOR 07/01/25-9/30/25

$81,384.83

WIR

4912

CHINO BASIN DESALTER AUTHORITY

Invoice Date

Comment

Amount

792

01/01/2026

WIRE TRANSFER - ADMINISTRATION, VARIABLE AND FIXED PROJECT COSTS

$970,384.00

ACH

ul

$970,384.00

107744

ADAM CASTANEDA

Invoice

Invoice Date

Comment

Amount

CERTIFICATION-103025

10/30/2025

PROFESSIONAL CERTIFICATION REIMBURSEMENT

$209.00

CERTIFICATION-120825

12/08/2025

PROFESSIONAL CERTIFICATION REIMBURSEMENT

$58.00

12/16/2025

ul

$81,384.83

Invoice

12/16/2025

ul

$4,950.00

Invoice

12/10/2025

ul

$705.00

Invoice

12/10/2025

ul

$45.44

Invoice

12/10/2025

ul

$1,497.50

Invoice

12/10/2025

ul

ul

$267.00
ul

Page 28 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100470

ACH

12/16/2025

1158

ALBERT A WEBB ASSOCIATES

100471

100472

100473

100474

2/5/2026

12/01/2025 to 12/31/2025
Amount
$31,745.00

Invoice

Invoice Date

Comment

Amount

ARIV0010632

11/22/2025

DESIGN SERVICES - EMWD/WMWD INTERCONNECTION ABANDONMENT

$1,085.50

ARIV0010723

11/22/2025

DESIGN SERVICES - WESTERN WATER REGIONAL INTERCONNECTION

$30,659.50

10503

ALLISON LOUKEH & ASSOCIATES

Invoice

ACH

Invoice Date

Comment

Amount

2025-43

11/23/2025

PROFESSIONAL SERVICES - ON CALL SERVICES PROGRAM

$2,375.00

2025-44

11/23/2025

PROFESSIONAL SERVICES - MARCH FIELD AIR MUSEUM SIGN PROJECT

$95.00

2025-45

11/23/2025

PROFESSIONAL SERVICES - COUNTRY VILLAGE TURF PROJECT

$285.00

ACH

12/16/2025

$2,755.00

1017

BABCOCK LABORATORIES INC

Invoice

Invoice Date

Comment

Amount

CK50779-7138

11/14/2025

WATER TESTING SERVICES

$2,062.50

CK51196-7138

11/21/2025

WATER TESTING SERVICES

$504.46

CK51377-7137

11/24/2025

WATER TESTING SERVICES

$267.50

CK51394-7136

11/24/2025

WATER TESTING SERVICES

$12.00

CK51396-7136

11/24/2025

WATER TESTING SERVICES

$154.00

CK51398-7136

11/24/2025

WATER TESTING SERVICES

$864.00

CK51408-7135

11/24/2025

WATER TESTING SERVICES

$22.00

CK51447-7135

11/25/2025

WATER TESTING SERVICES

$14.50

CK51494-7136

11/25/2025

WATER TESTING SERVICES

$12.00

CK51495-7135

11/25/2025

WATER TESTING SERVICES

$132.00

CK51584-7137

11/26/2025

WATER TESTING SERVICES

$833.00

ACH

12/16/2025

5988

BARRY'S SECURITY SERVICE, INC

Invoice Date

Comment

Amount

103646

11/24/2025

SECURITY SERVICES - ARLINGTON DESALTER

$1,026.00

103662

11/24/2025

SECURITY SERVICES - EL SOBRANTE

$1,758.20

103663

11/24/2025

SECURITY SERVICES - MERIDIAN

$1,580.19

ACH

8252

BH ELECTRIC, INC

Invoice

Invoice Date

Comment

3400

11/26/2025

ELECTRICAL SERVICES - LIGHTS REPLACEMENT AT NORCO SIERRA AND 5TH STREET

$3,913.11

3402

11/26/2025

ELECTRICAL SERVICES - MERIDIAN

$1,959.32

3403

11/26/2025

ELECTRICAL SERVICES - LIGHTS REPLACEMENT AT EL SOBRANTE

$939.67

12/16/2025

ul

$4,877.96

Invoice

12/16/2025

ul

ul

$4,364.39
ul

$6,812.10
Amount

ul

Page 29 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100475

ACH

12/16/2025

6305

C WELLS PIPELINE MATERIALS

100476

100478

100479

100480

100481

100482

100483

2/5/2026

12/01/2025 to 12/31/2025
Amount
$1,110.90

Invoice

Invoice Date

Comment

Amount

SINV25-5401

11/25/2025

PIPELINE REPAIR MATERIALS

$1,110.90

9771

COMMERCE HOSE & INDUSTRIAL PRODUCTS

Invoice

ACH

Invoice Date

Comment

Amount

00087437

11/24/2025

GENERAL SUPPLIES

$120.53

ACH

12/16/2025

$120.53

7420

DUDEK

Invoice

Invoice Date

Comment

Amount

202509418

11/14/2025

PROFESSIONAL SERVICES - MURRIETA SEWER COLLECTION SYSTEM

$622.50

ACH

12/16/2025

7451

EHS INTERNATIONAL, INC.

Invoice Date

Comment

Amount

3-21467R

12/03/2025

SAFETY TRAINING - LOCKOUT/TAGOUT

$1,045.00

ACH

1041

ELSINORE VALLEY MUNICIPAL WATER DISTRICT

Invoice Date

Comment

Amount

BI6334

12/01/2025

SAN BERNARDINO BASIN AREA LEASE PAYMENT

$91,547.26

ACH

7115

FIRST CHOICE SERVICES

Invoice Date

Comment

Amount

ON-839913

11/26/2025

OFFICE SUPPLIES

$484.55

ACH

9891

FPC GRAPHICS

Invoice Date

Comment

Amount

96615

11/24/2025

OFFICE SUPPLIES

$442.90

96826

11/24/2025

OFFICE SUPPLIES

$588.75

96827

11/24/2025

OFFICE SUPPLIES

$163.78

96828

11/24/2025

OFFICE SUPPLIES

$1,580.37

96862

11/24/2025

OFFICE SUPPLIES

$2,647.48

96867

11/24/2025

OFFICE SUPPLIES

$2,829.76

96883

11/24/2025

OFFICE SUPPLIES

$852.44

ACH

ul

$9,105.48

1157

FRITTS FORD

Invoice

Invoice Date

Comment

Amount

282993

11/24/2025

AUTO SERVICES

$32.61

12/16/2025

ul

$484.55

Invoice

12/16/2025

ul

$91,547.26

Invoice

12/16/2025

ul

$1,045.00

Invoice

12/16/2025

ul

$622.50

Invoice

12/16/2025

ul

ul

$32.61
ul

Page 30 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

Amount

100484

ACH

12/16/2025

107719

G-FORCE TECHNOLOGY CONSULTING LLC

$2,475.00

100485

100486

100487

100488

100490

100491

100492

100493

2/5/2026

Invoice

Invoice Date

Comment

Amount

5263

11/22/2025

INFOR FSM CLOUDSUITE MANAGED SERVICE FEES

$2,475.00

1452

GRAINGER

Invoice

ACH

Invoice Date

Comment

Amount

9723517638

11/25/2025

MATERIALS AND SUPPLIES

$304.44

9723914884

11/25/2025

MATERIALS AND SUPPLIES

$561.52

9725604269

11/28/2025

MATERIALS AND SUPPLIES

$159.49

ACH

12/16/2025

$1,025.45

1793

GRAYBAR ELECTRIC

Invoice

Invoice Date

Comment

Amount

9351134851

11/21/2025

GENERAL ELECTRICAL SUPPLIES

$569.57

ACH

12/16/2025

10539

HAWTHORNE MACHINERY CO

Invoice Date

Comment

Amount

PY-SS100143541

05/06/2025

MACHINE REPAIR SERVICES - EL SOBRANTE

$1,144.00

ACH

10133

INDUSTRIAL SOLUTION SERVICES

Invoice Date

Comment

Amount

29397

11/24/2025

DISINFECTING CHEMICALS

$294.91

29399

11/25/2025

DISINFECTING CHEMICALS

$881.34

ACH

10768

KENNETH SMITH

Invoice Date

Comment

Amount

120525

12/05/2025

EMPLOYEE EXPENSE REIMBURSEMENT - CONFERENCE/TRAVEL

$318.53

ACH

10586

LAE ASSOCIATES

Invoice Date

Comment

Amount

25-655

11/25/2025

PROFESSIONAL SERVICES - ORANGECREST WATER MAIN REPLACEMENT

$27,331.00

25-660

11/25/2025

PROFESSIONAL SERVICES - LAKE MATTHEWS WATER MAIN REPLACEMENT

$1,435.00

ACH

9649

MALLORY SAFETY & SUPPLY LLC

Invoice Date

Comment

Amount

6304351

11/25/2025

SAFETY SUPPLIES

$495.65

ACH

ul

$495.65

8652

MESA FENCE CO, INC

Invoice

Invoice Date

Comment

Amount

9838

11/24/2025

FENCE INSTALLATION - WWRF

$9,900.00

12/16/2025

ul

$28,766.00

Invoice

12/16/2025

ul

$318.53

Invoice

12/16/2025

ul

$1,176.25

Invoice

12/16/2025

ul

$1,144.00

Invoice

12/16/2025

ul

$569.57

Invoice

12/16/2025

ul

ul

$9,900.00
ul

Page 31 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100494

ACH

12/16/2025

10269

MIKE ROQUET CONSTRUCTION, INC.

100495

100496

100497

100499

100500

100501

2/5/2026

12/01/2025 to 12/31/2025
Amount
$18,807.00

Invoice

Invoice Date

Comment

Amount

1122-25

11/25/2025

ASPHALT AND CONCRETE REPAIRS

$9,987.00

1122-25-B

11/25/2025

ASPHALT AND CONCRETE REPAIRS

$8,820.00

10397

PIONEER AMERICAS

Invoice

ACH

Invoice Date

Comment

Amount

900647756

11/24/2025

SODIUM HYPOCHLORITE

$10,484.43

ACH

12/16/2025

$10,484.43

107920

POST AND JAM LLC

Invoice

Invoice Date

Comment

Amount

1161

11/18/2025

EMERGENCY LEAK REPAIR VIDEO PRODUCTION

$4,960.00

ACH

12/16/2025

10286

QUALIFIED MOBILE INC

Invoice Date

Comment

Amount

336670

11/24/2025

EPA COMPLIANT VEHICLE CLEANING SERVICES

$355.10

336671

11/24/2025

EPA COMPLIANT VEHICLE CLEANING SERVICES

$258.25

ACH

10401

ROCKSPARK INC

Invoice Date

Comment

Amount

WMWD-NOV25

11/25/2025

ASSEMBLY BILL 1572 WATER EFFICIENCY OUTREACH

$947.50

WMWD-NOV252

11/25/2025

WORD TEMPLATE UPDATE SERVICES

$685.00

WMWD-NOV254

11/25/2025

MWD WATER SHUTDOWN OUTREACH

$3,946.25

WWRF3

11/25/2025

CREATIVE SUPPORT FOR WWRF

$40.00

ACH

10710

SVT FLEET SOLUTIONS

Invoice Date

Comment

Amount

20000293-112425

11/24/2025

FLEET MANAGEMENT SERVICES

$4,567.50

ACH

10691

TDI REFRIGERATION

Invoice

Invoice Date

Comment

Amount

160157

07/11/2025

AIR CONDITIONING REPAIR SERVICES - MERIDIAN

$345.50

160558

08/24/2025

AIR CONDITIONING REPAIR SERVICES - MERIDIAN

$3,760.81

160833

08/08/2025

AIR CONDITIONING REPAIR SERVICES - MERIDIAN

$729.31

161590

08/29/2025

AIR CONDITIONING REPAIR SERVICES - MERIDIAN

$2,060.19

161592

08/29/2025

AIR CONDITIONING REPAIR SERVICES - MERIDIAN

$1,486.05

12/16/2025

ul

$5,618.75

Invoice

12/16/2025

ul

$613.35

Invoice

12/16/2025

ul

$4,960.00

Invoice

12/16/2025

ul

ul

$4,567.50
ul

$8,381.86
ul

Page 32 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

100503

ACH

12/16/2025

6474

FIELDMAN, ROLAPP & ASSOCIATES INC

Invoice

Invoice Date

Comment

Amount

PY-30390

02/12/2025

PROFESSIONAL SERVICES - SWAP VALUATION & REPORT

$244.00

219395

219397

219398

219399

219400

2/5/2026

CHK

Amount
$244.00

9888

AARC CONSULTANTS, LLC

Invoice

Invoice Date

Comment

Amount

2025-6127

11/26/2025

PROFESSIONAL SERVICES - EMERGENCY RESPONSE PLAN

$382.55

CHK

12/16/2025

$382.55

8612

AMAZON.COM LLC

Invoice

Invoice Date

Comment

Amount

16TT-Q6DH-PTF3

12/01/2025

OFFICE SUPPLIES

$43.09

16WC-HKYG-YGG4

12/01/2025

OFFICE SUPPLIES

$953.85

17JL-M7LJ-RCR4

12/01/2025

OFFICE SUPPLIES

$374.77

17LW-7Y6Q-RF1Q

12/01/2025

OFFICE SUPPLIES

$3,028.20

1991-W9RL-V7DV

12/01/2025

OFFICE SUPPLIES

$1,866.61

19JC-YHQC-1Y1J

12/01/2025

OFFICE SUPPLIES

$660.68

19MG-TPDX-V1JT

12/01/2025

OFFICE SUPPLIES

$265.42

1CL9-3JQV-QQQY

12/01/2025

OFFICE SUPPLIES

$304.64

1CL9-3JQV-XPPP

12/01/2025

OFFICE SUPPLIES

$496.31

1DYY-TKD4-VJXY

12/01/2025

OFFICE SUPPLIES

$1,066.49

1KKL-7GH9-YHKR

12/01/2025

OFFICE SUPPLIES

$389.83

1P6F-NQP7-T63G

12/01/2025

OFFICE SUPPLIES

$134.82

1R43-1PPD-QRWQ

12/01/2025

OFFICE SUPPLIES

$50.30

1XGH-QGH6-N7XT

12/01/2025

OFFICE SUPPLIES

$74.79

CHK

12/16/2025

10393

ANGELICA'S FLORIST & GIFTS

Invoice Date

Comment

Amount

21988

11/17/2025

EMPLOYEE RECOGNITION EVENT - FLORAL ARRANGEMENTS

$1,651.91

CHK

7350

ANITA WILCOX

Invoice Date

Comment

Amount

120525

12/09/2025

EMPLOYEE EXPENSE REIMBURSEMENT - CONFERENCE/TRAVEL

$1,015.85

CHK

ul

$1,015.85

107939

AQUA TAP A UTAH LLC

Invoice

Invoice Date

Comment

Amount

11532

11/26/2025

MATERIALS AND SUPPLIES

$167.01

12/16/2025

ul

$1,651.91

Invoice

12/16/2025

ul

$9,709.80

Invoice

12/16/2025

ul

ul

$167.01
ul

Page 33 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219402

CHK

12/16/2025

107745

ARTURO DUENAS

Invoice

Invoice Date

Comment

Amount

CERTIFICATION-120325

12/03/2025

PROFESSIONAL CERTIFICATION REIMBURSEMENT

$225.00

219403

219404

219405

219406

219407

219409

219410

2/5/2026

CHK

Amount
$225.00

6568

AT&T CALNET

Invoice

Invoice Date

Comment

Amount

000024448649

12/01/2025

TELEPHONE SERVICES

$1,308.42

000024455796

12/01/2025

TELEPHONE SERVICES

$4,856.80

000024460917

12/02/2025

TELEPHONE SERVICES

$104.73

000024469505

12/04/2025

TELEPHONE SERVICES

$0.39

CHK

12/16/2025

$6,270.34

2429

AT&T LONG DISTANCE

Invoice

Invoice Date

Comment

Amount

1225-826684608

12/04/2025

TELEPHONE SERVICES

$225.67

CHK

12/16/2025

107993

BILAL MARINI

Invoice Date

Comment

Amount

CERTIFICATION-120825

12/08/2025

PROFESSIONAL CERTIFICATION REIMBURSEMENT

$180.00

CHK

10190

BRINK'S, INCORPORATED

Invoice Date

Comment

Amount

13088653

12/01/2025

ARMORED TRUCK SERVICES

$429.03

CHK

4697

BURRTEC WASTE INDUSTRIES INC

Invoice Date

Comment

Amount

N0821031002

12/01/2025

TRASH/RECYCLE SERVICES - JEFFERSON PUMP STATION

$389.51

CHK

101081

CHRISTY WONG AH SUN

Invoice Date

Comment

Amount

SPONSORSHIP-112625

11/26/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$599.00

CHK

ul

$599.00

9571

CINTAS FIRST AID & SAFETY

Invoice

Invoice Date

Comment

Amount

4250958235

11/24/2025

UNIFORMS

$106.72

4251195041

11/25/2025

SAFETY PPE

$207.01

4251195239

11/25/2025

UNIFORMS

$1,318.71

4251200853

11/25/2025

UNIFORMS

$277.77

12/16/2025

ul

$389.51

Invoice

12/16/2025

ul

$429.03

Invoice

12/16/2025

ul

$180.00

Invoice

12/16/2025

ul

$225.67

Invoice

12/16/2025

ul

ul

$1,910.21
ul

Page 34 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219411

CHK

12/16/2025

1112

CITY OF RIVERSIDE

219412

219413

219414

219415

2/5/2026

12/01/2025 to 12/31/2025
Amount
$73,703.62

Invoice

Invoice Date

Comment

Amount

1125-0225587000

12/02/2025

ELECTRICITY UTILITY CHARGES

$40.61

1125-0228446001

11/26/2025

WATER UTILITY CHARGES

$219.86

1125-0229274000

11/26/2025

ELECTRICITY UTILITY CHARGES

$43,370.06

1125-253273-105203

12/02/2025

ELECTRICITY UTILITY CHARGES

$4,801.35

1125-253273-112401

12/02/2025

ELECTRICITY UTILITY CHARGES

$4,941.94

1125-253273-208265

12/01/2025

ELECTRICITY UTILITY CHARGES

$8,238.13

1125-253273-208316

11/26/2025

ELECTRICITY UTILITY CHARGES

$11,695.39

1125-257970-228451

12/02/2025

ELECTRICITY UTILITY CHARGES

$396.28

1909

CITY OF RIVERSIDE RUTX

Invoice

CHK

Invoice Date

Comment

Amount

RUTX-121125

12/11/2025

CITY OF RIVERSIDE UTILITY USER TAX - NOVEMBER 2025

$178,617.97

CHK

12/16/2025

$178,617.97

107995

CLIFFORD YOST

Invoice

Invoice Date

Comment

Amount

121525

12/15/2025

FENCE REPLACEMENT SERVICE - ORANGECREST PIPELINE REPLACEMENT

$7,367.00

CHK

12/16/2025

5016

CORE & MAIN LP

Invoice Date

Comment

Amount

X721566

11/05/2025

MATERIALS AND SUPPLIES

$423.90

X884757

11/10/2025

MATERIALS AND SUPPLIES

$2,142.24

Y037214

11/05/2025

MATERIALS AND SUPPLIES

$642.19

Y045330

11/17/2025

MATERIALS AND SUPPLIES

$380.85

Y147161

11/24/2025

MATERIALS AND SUPPLIES

$1,847.34

Y167429

11/24/2025

MATERIALS AND SUPPLIES

$16,702.77

CHK

ul

$22,139.29

9813

COUNTY OF SAN BERNARDINO - SHERIFF'S DEPARTMENT

Invoice

Invoice Date

Comment

Amount

EVOC25-11-017

11/26/2025

SAFETY TRAINING - ADVANCED DEFENSIVE DRIVING

$2,000.00

EVOC25-11-018

11/26/2025

SAFETY TRAINING - 4X4 OFFROAD COURSE

$1,220.00

12/16/2025

ul

$7,367.00

Invoice

12/16/2025

ul

ul

$3,220.00
ul

Page 35 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219416

CHK

12/16/2025

10683

DIESEL POLLUTION SOLUTION, INC

219417

219418

219419

219420

219423

219424

219426

2/5/2026

12/01/2025 to 12/31/2025
Amount
$1,166.08

Invoice

Invoice Date

Comment

Amount

8031

11/21/2025

EMISSIONS TESTING SERVICES

$441.08

8067

11/26/2025

EMISSIONS TESTING SERVICES

$145.00

8068

11/26/2025

EMISSIONS TESTING SERVICES

$145.00

8069

11/26/2025

EMISSIONS TESTING SERVICES

$145.00

8070

11/26/2025

EMISSIONS TESTING SERVICES

$145.00

8071

11/26/2025

EMISSIONS TESTING SERVICES

$145.00

10233

DOPUDJA & WELLS CONSULTING INC

Invoice

CHK

Invoice Date

Comment

Amount

2421

11/11/2025

PROFESSIONAL SERVICES - STATE OF THE BASIN

$5,197.50

CHK

12/16/2025

$5,197.50

1043

EASTERN MWD

Invoice

Invoice Date

Comment

Amount

8597192

12/13/2025

MURRIETA AREA SEWER TREATMENT SERVICE

$26,760.79

CHK

12/16/2025

7624

FERGUSON WATERWORKS

Invoice Date

Comment

Amount

0893791-1

11/25/2025

METERS AND METER PARTS

$91.59

CHK

9076

FLYERS ENERGY LLC

Invoice Date

Comment

Amount

25-523901

11/21/2025

DIESEL FUEL AND GASOLINE

$4,240.20

25-526258

11/25/2025

DIESEL FUEL AND GASOLINE

$618.00

25-527095

11/25/2025

DIESEL FUEL AND GASOLINE

$1,956.54

CHK

107892

HERITAGE LANDSCAPE SUPPLY GROUP, INC.

Invoice Date

Comment

Amount

0024199245-001

11/21/2025

LANDSCAPE SUPPLIES

$311.35

CHK

6909

IRON MOUNTAIN INC.

Invoice Date

Comment

Amount

KXDZ321

11/30/2025

OFF-SITE STORAGE AND SHREDDING SERVICES

$3,678.60

CHK

ul

$3,678.60

107981

JESSICA HOXMEIER

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-120325

12/03/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$599.00

12/16/2025

ul

$311.35

Invoice

12/16/2025

ul

$6,814.74

Invoice

12/16/2025

ul

$91.59

Invoice

12/16/2025

ul

$26,760.79

Invoice

12/16/2025

ul

ul

$599.00
ul

Page 36 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219428

CHK

12/16/2025

1579

JURUPA COMMUNITY SERVICES DISTRICT

219429

219430

219431

219432

219433

219435

219436

219437

219438

2/5/2026

12/01/2025 to 12/31/2025
Amount
$207,824.57

Invoice

Invoice Date

Comment

Amount

2026-00000012

11/25/2025

WRCRWA PIPELINE SEGMENT 1 - AGENCY SHARED COST

$207,824.57

107984

JURUPA UNIFIED SCHOOL DISTRICT

Invoice

CHK

Invoice Date

Comment

Amount

SPONSORSHIP-120325

12/03/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$1,000.00

CHK

12/16/2025

$1,000.00

107980

KAREN POPE

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-120325

12/03/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$599.00

CHK

12/16/2025

107982

KARLA PEREZ SCARFF

Invoice Date

Comment

Amount

SPONSORSHIP-120325

12/03/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$1,000.00

CHK

9960

KEEPER SECURITY, INC.

Invoice Date

Comment

Amount

INV475343

11/21/2025

LICENSING - KEEPER

$10,841.25

CHK

9542

LEE & RO, INC.

Invoice Date

Comment

Amount

1278/09

11/25/2025

PROFESSIONAL SERVICES - WELL 7 EQUIPPING & PIPELINE PROJECT

$1,028.00

CHK

107816

LINA ALFARO

Invoice Date

Comment

Amount

SPONSORSHIP-120825

12/08/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025-26

$1,000.00

CHK

3021

LINDE GAS & EQUIPMENT

Invoice Date

Comment

Amount

53353832

11/22/2025

CYLINDER RENTAL SERVICES

$147.71

CHK

4665

LOWE'S HOME CENTERS, LLC

Invoice Date

Comment

Amount

972480-PXXZQI

11/25/2025

PARTS AND SUPPLIES

$234.55

CHK

ul

$234.55

8752

MARCH FIELD MUSEUM FOUNDATION

Invoice

Invoice Date

Comment

Amount

121125

12/11/2025

EMPLOYEE RECOGNITION EVENT - FACILITY RENTAL

$1,250.00

12/16/2025

ul

$147.71

Invoice

12/16/2025

ul

$1,000.00

Invoice

12/16/2025

ul

$1,028.00

Invoice

12/16/2025

ul

$10,841.25

Invoice

12/16/2025

ul

$1,000.00

Invoice

12/16/2025

ul

$599.00

Invoice

12/16/2025

ul

ul

$1,250.00
ul

Page 37 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219439

CHK

12/16/2025

7153

MCMASTER CARR SUPPLY CO

Invoice

Invoice Date

Comment

Amount

55950302

11/25/2025

MATERIALS AND SUPPLIES

$23.52

219440

219441

219442

219443

219444

219445

219446

219447

2/5/2026

CHK

Amount
$23.52

9727

O'REILLY AUTO ENTERPRISES, LLC

Invoice

Invoice Date

Comment

Amount

2588814-112825

11/28/2025

AUTO PARTS

$1,464.14

CHK

12/16/2025

$1,464.14

107858

PACIFIC WEST UNDERGROUND, INC.

Invoice

Invoice Date

Comment

Amount

5-W-311A

10/31/2025

CIP PROJECT - ORANGECREST PIPELINE REPLACEMENT PROJECT

$223,944.39

CHK

12/16/2025

8636

QUADIENT FINANCE USA, INC.

Invoice Date

Comment

Amount

11462074-120825

11/30/2025

POSTAGE PURCHASE

$1,049.00

CHK

8500

QUADIENT LEASING USA, INC.

Invoice Date

Comment

Amount

Q2115644

11/23/2025

EQUIPMENT LEASE - POSTAGE MACHINE

$582.21

CHK

2782

RAIN FOR RENT

Invoice Date

Comment

Amount

2188729

09/12/2025

TWO PUMP RENTALS FOR GAVILAN HILLS AREA

$17,016.10

2191489

09/22/2025

RENTAL MATERIALS FOR ROLLING MEADOWS & ROCKY BLUFF

$1,794.80

2215673

11/26/2025

TEMPORARY PUMP RENTAL DURING MILLS SHUTDOWN

$1,830.11

CHK

1132

RANCHO CALIFORNIA WATER DISTRICT

Invoice Date

Comment

Amount

BL193

11/25/2025

RAINBOW METER READING AND REPAIRS - OCTOBER 2025

$8,507.77

CHK

7254

RIVERSIDE COUNTY FLOOD CONTROL

Invoice Date

Comment

Amount

FC020964

11/19/2025

1269 FORCEMAIN PROJECT PLAN CHECK

$161.69

CHK

ul

$161.69

5009

RT LAWRENCE CORPORATION

Invoice

Invoice Date

Comment

Amount

50235

11/14/2025

LOCKBOX PROCESSING FEES

$657.48

12/16/2025

ul

$8,507.77

Invoice

12/16/2025

ul

$20,641.01

Invoice

12/16/2025

ul

$582.21

Invoice

12/16/2025

ul

$1,049.00

Invoice

12/16/2025

ul

$223,944.39

Invoice

12/16/2025

ul

ul

$657.48
ul

Page 38 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219448

CHK

12/16/2025

1131

SCE

Invoice

Invoice Date

Comment

Amount

1125-259000-091401

12/02/2025

ELECTRICITY UTILITY CHARGES

$13,466.34

1125-8853527

11/24/2025

ELECTRICITY UTILITY CHARGES

$64.04

1125-V349N-003366

11/29/2025

ELECTRICITY UTILITY CHARGES

$17,320.40

219449

219451

219452

219453

219454

219455

2/5/2026

CHK

Amount
$30,850.78

1142

THE GAS COMPANY

Invoice

Invoice Date

Comment

Amount

1125-13353156

12/05/2025

GAS UTILITY CHARGES

$16.27

1125-15916034

12/03/2025

GAS UTILITY CHARGES

$292.70

1125-16086599

12/04/2025

GAS UTILITY CHARGES

$33.08

1125-7700

12/05/2025

GAS UTILITY CHARGES

$18,289.49

CHK

12/16/2025

$18,631.54

101153

TISHA TRINH

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-120825

12/08/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$575.00

CHK

12/16/2025

1217

WASTE MANAGEMENT OF THE INLAND EMPIRE

Invoice Date

Comment

Amount

7980163-2371-8

12/01/2025

COMMERCIAL WASTE DISPOSAL

$1,008.79

CHK

10040

WATER SYSTEMS CONSULTING, INC.

Invoice Date

Comment

Amount

11837

10/31/2025

CONSULTING SERVICES - 2025 URBAN WATER MANAGEMENT AND WATER SHORTAGE CONTINGENCY PLANS

$17,142.50

CHK

10260

WHITE CAP CONSTRUCTION SUPPLY

Invoice

Invoice Date

Comment

Amount

50034402915

11/21/2025

MATERIALS AND SUPPLIES

$641.34

CHK

107711

WILLIAMS SCOTSMAN, INC.

Invoice

Invoice Date

Comment

Amount

9025086670

11/26/2025

STORAGE CONTAINER RENTAL

$122.82

12/16/2025

12/16/2025

ul

$1,008.79

Invoice

12/16/2025

ul

$575.00

Invoice

12/16/2025

ul

ul

$17,142.50
ul

$641.34
ul

$122.82
ul

Page 39 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

1367891580

WIR

12/18/2025

9476

GREAT-WEST LIFE & ANNUITY INSURANCE

1367906177

100504

100505

100506

100507

2/5/2026

12/01/2025 to 12/31/2025
Amount
$37,922.06

Invoice

Invoice Date

Comment

Amount

121825-457

12/18/2025

457 PLAN FUNDING

$37,922.06

9476

GREAT-WEST LIFE & ANNUITY INSURANCE

Invoice

WIR

Invoice Date

Comment

Amount

121825-401A

12/18/2025

401A PLAN FUNDING

$11,269.97

ACH

12/18/2025

$11,269.97

107869

ACCESS VG, LLC

Invoice

Invoice Date

Comment

Amount

INV-933353

12/01/2025

MONTHLY FEES - ACCESS PERKS ENTERPRISE

$250.00

ACH

12/23/2025

9943

AMERICAN COMMERCIAL TRADING, INC.

Invoice Date

Comment

Amount

16058

12/10/2025

REPAIR PARTS AND SUPPLIES

$7,483.24

ACH

1158

ALBERT A WEBB ASSOCIATES

Invoice Date

Comment

Amount

ARIV0010867

11/22/2025

CONSTRUCTION INSPECTION SERVICES - ARCO-AM/PM

$1,598.79

ARIV0010868

11/22/2025

CONSTRUCTION INSPECTION SERVICES - STANDBY OBSERVATIONS

$2,083.35

ARIV0010869

11/22/2025

CONSTRUCTION INSPECTION SERVICES - MCDONALDS

$317.64

ARIV0010873

11/22/2025

CONSTRUCTION INSPECTION SERVICES - TR38094 ON-SITE WATER

$10,026.82

ACH

ul

$14,026.60

9033

ALEXANDER'S CONTRACT SERVICES INC

Invoice

Invoice Date

Comment

Amount

106050

11/30/2025

METER READING SERVICES

$587.00

106051

11/30/2025

METER READING SERVICES - TURN ON/OFF

$2,504.79

12/23/2025

ul

$7,483.24

Invoice

12/23/2025

ul

$250.00

Invoice

12/23/2025

ul

ul

$3,091.79
ul

Page 40 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

100509

ACH

12/23/2025

1017

BABCOCK LABORATORIES INC

Invoice

Invoice Date

Comment

Amount

CL50046-7137

12/01/2025

WATER TESTING SERVICES

$35.00

CL50059-7137

12/01/2025

WATER TESTING SERVICES

$132.00

CL50082-7135

12/02/2025

WATER TESTING SERVICES

$22.00

CL50124-7136

12/03/2025

WATER TESTING SERVICES

$12.00

CL50128-7136

12/03/2025

WATER TESTING SERVICES

$176.00

CL50131-7135

12/03/2025

WATER TESTING SERVICES

$264.00

CL50132-7135

12/03/2025

WATER TESTING SERVICES

$66.00

CL50134-7137

12/03/2025

WATER TESTING SERVICES

$87.75

CL50137-7136

12/03/2025

WATER TESTING SERVICES

$110.00

CL50138-7136

12/03/2025

WATER TESTING SERVICES

$66.00

CL50140-7135

12/03/2025

WATER TESTING SERVICES

$242.00

CL50142-7135

12/03/2025

WATER TESTING SERVICES

$44.00

CL50144-7135

12/03/2025

WATER TESTING SERVICES

$22.00

CL50145-7135

12/03/2025

WATER TESTING SERVICES

$22.00

CL50147-7137

12/03/2025

WATER TESTING SERVICES

$123.00

CL50157-7137

12/03/2025

WATER TESTING SERVICES

$282.00

CL50159-7137

12/03/2025

WATER TESTING SERVICES

$1,853.50

CL50169-7135

12/03/2025

WATER TESTING SERVICES

$620.00

100510

100511

100512

100513

2/5/2026

ACH

Amount
$4,179.25

5988

BARRY'S SECURITY SERVICE, INC

Invoice

Invoice Date

Comment

Amount

103681

12/01/2025

SECURITY SERVICES - ARLINGTON DESALTER

$1,097.52

103695

12/01/2025

SECURITY SERVICES - EL SOBRANTE

$1,882.04

103699

12/01/2025

SECURITY SERVICES - MERIDIAN

$951.74

ACH

12/23/2025

$3,931.30

10656

BSE ENGINEERING, INC

Invoice

Invoice Date

Comment

Amount

23-1494-1104-19

11/30/2025

PROFESSIONAL SERVICES - MOCKINGBIRD PUMP STATION GENERATOR

$690.00

ACH

12/23/2025

6305

C WELLS PIPELINE MATERIALS

Invoice Date

Comment

Amount

SINV25-5402

11/25/2025

PIPELINE REPAIR MATERIALS

$3,625.79

ACH

ul

$3,625.79

10326

CANDICE HARO

Invoice

Invoice Date

Comment

Amount

121525

12/15/2025

EXPENSE REIMBURSEMENT - NOTARY PUBLIC EXAM AND APPLICATION

$40.00

12/23/2025

ul

$690.00

Invoice

12/23/2025

ul

ul

$40.00
ul

Page 41 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100514

ACH

12/23/2025

4727

CHANDLER ASSET MANAGEMENT INC

100515

100516

100517

100518

100519

100520

100521

2/5/2026

12/01/2025 to 12/31/2025
Amount
$11,988.77

Invoice

Invoice Date

Comment

Amount

25-11-250

11/30/2025

INVESTMENT MANAGEMENT SERVICES

$11,988.77

8864

COPELAND CONSULTING

Invoice

ACH

Invoice Date

Comment

Amount

423

11/30/2025

WATERMASTER CONSULTING SERVICES

$944.30

ACH

12/23/2025

$944.30

6754

CYBEX SECURITY SOLUTIONS

Invoice

Invoice Date

Comment

Amount

2167680

12/01/2025

SECURITY MONITORING SERVICES - VARIOUS DISTRICT SITES

$1,068.95

ACH

12/23/2025

8495

DEAN STANDING WARRIOR

Invoice Date

Comment

Amount

TUITION-12152025

12/15/2025

EMPLOYEE VOLUNTARY EDUCATION REIMBURSEMENT PROGRAM

$320.00

ACH

7420

DUDEK

Invoice Date

Comment

Amount

202508261

10/13/2025

PROFESSIONAL SERVICES - MOCKINGBIRD HYDROLOGY AND STORMWATER

$1,100.00

202510014

12/03/2025

PROFESSIONAL SERVICES - LS 1269 SEWER FORCEMAIN REPLACEMENT

$12,250.40

ACH

10574

E SOURCE COMPANIES LLC

Invoice Date

Comment

Amount

14451

11/30/2025

WESTERN E SOURCE REGIONAL PROGRAM MANAGEMENT

$9,590.00

ACH

7451

EHS INTERNATIONAL, INC.

Invoice Date

Comment

Amount

3-21468R

12/05/2025

SAFETY TRAINING - LOCKOUT/TAGOUT AWARENESS

$1,045.00

3-21469R

12/10/2025

SAFETY TRAINING - LOCKOUT/TAGOUT AWARENESS

$1,045.00

3-21470R

12/11/2025

SAFETY TRAINING - LOCKOUT/TAGOUT AWARENESS

$2,090.00

3-21505R

12/05/2025

SAFETY CURRICULUM DEVELOPMENT SERVICES

$5,830.00

ACH

ul

$10,010.00

9891

FPC GRAPHICS

Invoice

Invoice Date

Comment

Amount

96868

12/03/2025

PRINTING SERVICES - PROMOTIONAL MATERIALS

$633.36

96880

12/03/2025

PRINTING SERVICES - POSTERS AND FLYERS

$732.70

96906

12/03/2025

PRINTING SERVICES - PROMOTIONAL MATERIALS

$1,304.90

12/23/2025

ul

$9,590.00

Invoice

12/23/2025

ul

$13,350.40

Invoice

12/23/2025

ul

$320.00

Invoice

12/23/2025

ul

$1,068.95

Invoice

12/23/2025

ul

ul

$2,670.96
ul

Page 42 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

Amount

100522

ACH

12/23/2025

7291

GOLD COAST ENVIRONMENTAL, INC

$2,540.00

100523

100524

100525

100526

100527

100530

100531

2/5/2026

Invoice

Invoice Date

Comment

Amount

PY-12070

10/25/2018

CALIBRATION SERVICES - MARKHAM LIFT STATION

$500.00

PY-12764

02/24/2021

CALIBRATION SERVICES - WWRF

$855.00

PY-14140

07/31/2024

TRANSMITTER INSTALLATION

$1,185.00

9743

GRACIE TORRES

Invoice

ACH

Invoice Date

Comment

Amount

121325

12/13/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$416.57

ACH

12/23/2025

$416.57

1452

GRAINGER

Invoice

Invoice Date

Comment

Amount

9727639099

12/01/2025

MATERIALS AND SUPPLIES

$418.88

9729094723

12/02/2025

MATERIALS AND SUPPLIES

$18.85

ACH

12/23/2025

10133

INDUSTRIAL SOLUTION SERVICES

Invoice Date

Comment

Amount

29460

12/02/2025

DISINFECTING CHEMICALS

$220.33

29461

12/02/2025

DISINFECTING CHEMICALS

$1,027.09

ACH

5629

INFOSEND, INC

Invoice

Invoice Date

Comment

Amount

300204

11/30/2025

PRINTING SERVICES - WELCOME PACKETS

$214.16

300205

11/30/2025

PRINTING SERVICES - WELCOME LETTER POSTAGE

$184.19

ACH

7863

JAYNE HANSEN

Invoice

Invoice Date

Comment

Amount

CERTIFICATION-121625

12/16/2025

PROFESSIONAL CERTIFICATION REIMBURSEMENT

$70.00

ACH

107883

LABOR COMPLIANCE PROJECT MANAGEMENT LLC

Invoice

Invoice Date

Comment

Amount

20251205-B

12/05/2025

LABOR COMPLIANCE MONITORING

$1,360.00

ACH

8575

LEGAL SHIELD

Invoice

Invoice Date

Comment

Amount

121625

12/16/2025

LEGAL SHIELD EMPLOYEE-PAID BENEFIT

$448.45

12/23/2025

12/23/2025

12/23/2025

12/23/2025

ul

$437.73

Invoice

12/23/2025

ul

ul

$1,247.42
ul

$398.35
ul

$70.00
ul

$1,360.00
ul

$448.45
ul

Page 43 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100534

ACH

12/23/2025

6872

ONLINE INFORMATION SERVICES

100535

100536

100537

100539

100540

100543

100544

2/5/2026

12/01/2025 to 12/31/2025
Amount
$1,842.11

Invoice

Invoice Date

Comment

Amount

1363291

11/30/2025

CUSTOMER ACCOUNT ACTIVATION AND VERIFICATION SERVICES

$428.64

370600000491

11/30/2025

CUSTOMER COLLECTION SERVICES

$1,413.47

6859

PAY PLUS SOLUTIONS

Invoice

ACH

Invoice Date

Comment

Amount

35839

12/01/2025

CUSTOM REPORTS MONTHLY SUBSCRIPTION

$715.05

ACH

12/23/2025

$715.05

10027

PONTON INDUSTRIES INC

Invoice

Invoice Date

Comment

Amount

32392

09/24/2025

PRESSURE SENSOR

$3,985.51

ACH

12/23/2025

6604

R & B AUTOMATION INC

Invoice Date

Comment

Amount

10150944

11/28/2025

ACTUATORS AND INSTALLATION SERVICES - FOR LA SIERRA VALVE TO MILLS GRAVITY LINE

$26,319.16

ACH

3150

ROYAL INDUSTRIAL SOLUTIONS

Invoice Date

Comment

Amount

6441-1167513

11/26/2025

MATERIALS AND SUPPLIES

$4,711.25

6441-1167987

11/26/2025

MATERIALS AND SUPPLIES

$2,350.38

ACH

9827

SAVVY WAST COAST MARKETING

Invoice Date

Comment

Amount

1329

11/30/2025

SOCIAL MEDIA MARKETING

$3,885.44

ACH

9776

SULZER ELECTRO-MECHANICAL SERVICES

Invoice Date

Comment

Amount

PJIN00013856

11/24/2025

MATERIALS AND SUPPLIES

$571.34

ACH

ul

$571.34

10691

TDI REFRIGERATION

Invoice

Invoice Date

Comment

Amount

160834

08/08/2025

AIR CONDITIONING REPAIR SERVICES - ARLINGTON DESALTER

$868.59

161024

08/15/2025

AIR CONDITIONING REPAIR SERVICES - MERIDIAN

$4,488.47

161589

08/29/2025

AIR CONDITIONING REPAIR SERVICES - MERIDIAN

$8,687.86

161591

08/29/2025

AIR CONDITIONING REPAIR SERVICES - ARLINGTON DESALTER

$553.50

161776

09/09/2025

AIR CONDITIONING REPAIR SERVICES - EL SOBRANTE

$1,558.97

162774

10/17/2025

AIR CONDITIONING REPAIR SERVICES - MERIDIAN

$581.00

162775

10/17/2025

AIR CONDITIONING REPAIR SERVICES - MERIDIAN

$2,236.92

12/23/2025

ul

$3,885.44

Invoice

12/23/2025

ul

$7,061.63

Invoice

12/23/2025

ul

$26,319.16

Invoice

12/23/2025

ul

$3,985.51

Invoice

12/23/2025

ul

ul

$18,975.31
ul

Page 44 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

100545

ACH

12/23/2025

5529

TETRA TECH INC

Invoice

Invoice Date

Comment

Amount

52510480

11/14/2025

DESIGN SERVICES - PFAS TREATMENT AT THE ARLINGTON DESALTER PLANT

$111,065.63

100546

100547

100549

100550

100551

100552

100554

219456

2/5/2026

ACH

Amount
$111,065.63

4737

THE FERGUSON GROUP LLC

Invoice

Invoice Date

Comment

Amount

INV5112

12/01/2025

FEDERAL PUBLIC POLICY ADVOCACY SERVICES - DECEMBER 2025

$11,000.00

ACH

12/23/2025

$11,000.00

10514

TIDALWAVE WIRELESS INC

Invoice

Invoice Date

Comment

Amount

I20251130WMWD

11/30/2025

SCADA RADIO COMMUNICATION SUPPORT

$1,200.00

ACH

12/23/2025

1294

UNDERGROUND SERVICE ALERT INC

Invoice Date

Comment

Amount

1120250840

12/01/2025

CALIFORNIA STATE FEE FOR REGULATORY COSTS

$2,756.00

25-261949

12/01/2025

CALIFORNIA STATE FEE FOR REGULATORY COSTS

$856.37

ACH

7126

UNITED WAY OF INLAND VALLEY

Invoice Date

Comment

Amount

121725

12/17/2025

EMPLOYEE PAYROLL DONATIONS

$122.00

ACH

10272

VANDERMOST CONSULTING SERVICES

Invoice Date

Comment

Amount

26165

12/03/2025

PROFESSIONAL SERVICES - MILLS GRAVITY LINE EASEMENT PROJECT

$193.75

ACH

1850

VERIZON WIRELESS - LA

Invoice Date

Comment

Amount

6130145918

12/03/2025

TELEPHONE SERVICES

$243.08

ACH

10375

WATERLINE TECHNOLOGIES INC

Invoice Date

Comment

Amount

5771936

11/21/2025

HYPOCHLORITE SOLUTIONS

$783.88

5771938

11/24/2025

HYPOCHLORITE SOLUTIONS

$791.16

5771942

11/21/2025

HYPOCHLORITE SOLUTIONS

$949.39

CHK

ul

$2,524.43

9814

AMAZON WEB SERVICES, INC.

Invoice

Invoice Date

Comment

Amount

2408680777

12/01/2025

AMAZON WEB SERVICES

$216.50

12/23/2025

ul

$243.08

Invoice

12/23/2025

ul

$193.75

Invoice

12/23/2025

ul

$122.00

Invoice

12/23/2025

ul

$3,612.37

Invoice

12/23/2025

ul

$1,200.00

Invoice

12/23/2025

ul

ul

$216.50
ul

Page 45 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219458

CHK

12/23/2025

9168

AWWEE

219459

219460

219461

219462

219463

2/5/2026

12/01/2025 to 12/31/2025
Amount
$1,500.00

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-121225

12/16/2025

SPONSORSHIP - ASSOCIATION OF WOMEN IN WATER, ENERGY AND ENVIRONMENT 2026

$1,500.00

6568

AT&T CALNET

Invoice

CHK

Invoice Date

Comment

Amount

000024502985

12/11/2025

TELEPHONE SERVICES

$32.40

000024516597

12/13/2025

TELEPHONE SERVICES

$733.21

000024516599

12/13/2025

TELEPHONE SERVICES

$30.32

000024516747

12/13/2025

TELEPHONE SERVICES

$310.80

000024521613

12/13/2025

TELEPHONE SERVICES

$92.53

000024523918

12/13/2025

TELEPHONE SERVICES

$78.20

000024527424

12/14/2025

TELEPHONE SERVICES

$317.67

CHK

12/23/2025

$1,595.13

10571

AT&T MOBILITY

Invoice

Invoice Date

Comment

Amount

287326831086X12102025

12/02/2025

TELEPHONE SERVICES

$3,813.57

CHK

12/23/2025

10080

AWARDCO, LLC

Invoice Date

Comment

Amount

SO98443

12/01/2025

EMPLOYEE RECOGNITION FUNDING - NOVEMBER 2025

$510.00

CHK

9830

BOOT BARN

Invoice Date

Comment

Amount

INV00547430

12/03/2025

STEEL TOED SAFETY BOOTS

$295.15

INV00547431

12/03/2025

STEEL TOED SAFETY BOOTS

$293.52

INV00547432

12/03/2025

STEEL TOED SAFETY BOOTS

$300.00

INV00547433

12/03/2025

STEEL TOED SAFETY BOOTS

$269.15

INV00547434

12/03/2025

STEEL TOED SAFETY BOOTS

$146.76

INV00547435

12/03/2025

STEEL TOED SAFETY BOOTS

$150.00

INV00547436

12/03/2025

STEEL TOED SAFETY BOOTS

$210.43

INV00547437

12/03/2025

STEEL TOED SAFETY BOOTS

$150.00

INV00547438

12/03/2025

STEEL TOED SAFETY BOOTS

$107.65

INV00547439

12/03/2025

STEEL TOED SAFETY BOOTS

$150.00

CHK

ul

$2,072.66

5855

BRENDA DENNSTEDT

Invoice

Invoice Date

Comment

Amount

121325

12/13/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$196.70

12/23/2025

ul

$510.00

Invoice

12/23/2025

ul

$3,813.57

Invoice

12/23/2025

ul

ul

$196.70
ul

Page 46 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219465

CHK

12/23/2025

9934

BUSINESS ORIENTED SW SOLUTIONS

Invoice

Invoice Date

Comment

Amount

BOSS81125129677

12/01/2025

BOSS SOLUTIONS SOFTWARE RENEWAL

$3,000.00

219466

219467

219468

219469

219470

219471

219472

2/5/2026

CHK

Amount
$3,000.00

9648

CAMERON WELDING SUPPLY

Invoice

Invoice Date

Comment

Amount

09364840

11/30/2025

COMPRESSED GAS FOR WELDING

$29.20

09364841

11/30/2025

COMPRESSED GAS FOR WELDING

$278.80

CHK

12/23/2025

$308.00

2997

PETTY CASH

Invoice

Invoice Date

Comment

Amount

121025-OPS

12/18/2025

PETTY CASH - OPERATIONS

$956.14

CHK

12/23/2025

1029

CENTRAL COMMUNICATIONS

Invoice Date

Comment

Amount

000038-178-731

11/01/2025

AFTER-HOURS ANSWERING SERVICE

$1,344.71

000038-525-831

12/01/2025

AFTER-HOURS ANSWERING SERVICE

$1,200.44

CHK

8721

CHARLENE GUTIERREZ

Invoice Date

Comment

Amount

12

12/01/2025

MEDICARE PART B PENALTY REIMBURSEMENT

$18.50

CHK

9571

CINTAS FIRST AID & SAFETY

Invoice Date

Comment

Amount

4251552631

12/01/2025

UNIFORMS

$129.16

4251682553

12/02/2025

SAFETY PPE

$207.01

4251682737

12/02/2025

UNIFORMS

$1,318.71

4251824478

12/03/2025

UNIFORMS

$277.77

CHK

5016

CORE & MAIN LP

Invoice

Invoice Date

Comment

Amount

Y132557

12/02/2025

MATERIALS AND SUPPLIES

$582.75

Y143560

12/02/2025

MATERIALS AND SUPPLIES

$4,733.78

CHK

12/23/2025

ul

$1,932.65
ul

$5,316.53

7010

CORELOGIC, INC

Invoice

Invoice Date

Comment

Amount

30821828

11/30/2025

IT MONTHLY SUBSCRIPTION

$344.79

12/23/2025

ul

$18.50

Invoice

12/23/2025

ul

$2,545.15

Invoice

12/23/2025

ul

$956.14

Invoice

12/23/2025

ul

ul

$344.79
ul

Page 47 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219473

CHK

12/23/2025

9984

CORODATA SHREDDING, INC.

Invoice

Invoice Date

Comment

Amount

DN1556401

11/30/2025

PAPER SHREDDING SERVICES - EL SOBRANTE

$58.62

DN1556402

11/30/2025

PAPER SHREDDING SERVICES - MERIDIAN

$105.83

219475

219476

219478

219479

219480

219482

2/5/2026

CHK

Amount
$164.45

7029

DISH DBS CORPORATION

Invoice

Invoice Date

Comment

Amount

1225-1953643

12/15/2025

SATELLITE SERVICES

$129.76

CHK

12/23/2025

$129.76

9087

ENTERPRISE FM TRUST

Invoice

Invoice Date

Comment

Amount

FBN5471295-A

11/05/2025

FLEET VEHICLE LEASE CHARGES - NOVEMBER 2025

$31,172.24

FBN5471295-B

11/05/2025

DISTRICT FLEET VEHICLES PURCHASE

$102,077.00

FBN5502482

12/03/2025

FLEET VEHICLE LEASE CHARGES - DECEMBER 2025

$28,089.78

CHK

12/23/2025

10127

ESRI INDIA TECHNOLOGIES PVT LT

Invoice Date

Comment

Amount

69103304

11/29/2025

GIS SUPPORT SERVICES

$8,988.00

CHK

10169

FAUZIA RIZVI

Invoice Date

Comment

Amount

121325

12/13/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$195.30

CHK

9076

FLYERS ENERGY LLC

Invoice Date

Comment

Amount

25-529077

12/01/2025

DIESEL FUEL AND GASOLINE

$1,395.24

CFS-4452040

11/30/2025

DIESEL FUEL AND GASOLINE

$928.95

CHK

ul

$2,324.19

8442

GHD INC.

Invoice

Invoice Date

Comment

Amount

380-0080697

11/06/2025

PROFESSIONAL SERVICES - DEVELOPMENT SERVICES PLAN CHECKS

$1,332.50

380-0080700

11/06/2025

PROFESSIONAL SERVICES - DEVELOPMENT SERVICES PLAN CHECKS

$640.00

12/23/2025

ul

$195.30

Invoice

12/23/2025

ul

$8,988.00

Invoice

12/23/2025

ul

$161,339.02

Invoice

12/23/2025

ul

ul

$1,972.50
ul

Page 48 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219483

CHK

12/23/2025

8067

GOLDEN STATE CONSULTANTS, INC.

219484

219485

219486

2/5/2026

12/01/2025 to 12/31/2025
Amount
$20,405.50

Invoice

Invoice Date

Comment

Amount

9861

12/01/2025

BACKFLOW PREVENTION AND INSPECTIONS

$4,299.00

9862

12/01/2025

BACKFLOW PREVENTION AND INSPECTIONS

$3,864.00

9863

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$587.00

9864

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$184.50

9865

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$1,253.50

9866

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$909.00

9867

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$345.50

9868

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$1,311.50

9869

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$391.50

9870

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$2,688.50

9871

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$1,150.50

9872

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$506.50

9873

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$184.50

9874

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$184.50

9875

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$184.50

9876

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$426.00

9877

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$184.50

9878

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$345.50

9879

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$345.50

9880

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$184.50

9881

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$207.50

9882

12/01/2025

CONSTRUCTION INSPECTION SERVICES

$667.50

9480

ICONIX WATERWORKS (US) INC.

Invoice

CHK

Invoice Date

Comment

Amount

U2516049227

12/03/2025

GENERAL SUPPLIES

$964.04

CHK

12/23/2025

$964.04

7255

JASON BARINGER

Invoice

Invoice Date

Comment

Amount

121625

12/16/2025

EMPLOYEE EXPENSE REIMBURSEMENT - DEPARTMENT ANNUAL APPRECIATION LUNCH

$291.56

CHK

12/23/2025

ul

$291.56

8648

JMR BLINDS INC

Invoice

Invoice Date

Comment

Amount

OWEB2527405W

10/02/2025

BLIND REPAIR SERVICES - MERIDIAN

$500.00

12/23/2025

ul

ul

$500.00
ul

Page 49 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219488

CHK

12/23/2025

9845

JUAN MAZARIEGOS

Invoice

Invoice Date

Comment

Amount

121225

12/16/2025

EMPLOYEE EXPENSE REIMBURSEMENT - TRAINING/TRAVEL

$218.55

219489

219490

219491

219493

219495

219498

219499

219500

219502

2/5/2026

CHK

Amount
$218.55

9435

LARRY CHANES

Invoice

Invoice Date

Comment

Amount

121625

12/16/2025

EMPLOYEE EXPENSE REIMBURSEMENT - DEPARTMENT ANNUAL APPRECIATION LUNCH

$385.00

CHK

12/23/2025

$385.00

10205

LAURA ROUGHTON

Invoice

Invoice Date

Comment

Amount

121325

12/13/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$205.10

CHK

12/23/2025

4665

LOWE'S HOME CENTERS, LLC

Invoice Date

Comment

Amount

973877-PYQXGG

12/03/2025

MATERIALS AND SUPPLIES

$61.92

CHK

7425

MARIBEL ARIMAS

Invoice Date

Comment

Amount

110625

12/05/2025

EMPLOYEE EXPENSE REIMBURSEMENT - CONFERENCE/TRAVEL

$158.38

CHK

7153

MCMASTER CARR SUPPLY CO

Invoice Date

Comment

Amount

56255825

12/03/2025

MATERIALS AND SUPPLIES

$182.06

56257198

12/03/2025

MATERIALS AND SUPPLIES

$539.90

CHK

10072

MIKE GARDNER

Invoice Date

Comment

Amount

121325

12/13/2025

MILEAGE REIMBURSEMENT - BOARD OF DIRECTORS

$85.40

CHK

7248

MSC INDUSTRIAL SUPPLY COMPANY

Invoice Date

Comment

Amount

75217860

11/18/2025

MATERIALS AND SUPPLIES

$334.23

CHK

9210

NORTHWEST MOSQUITO-VECTOR CONTROL DISTRICT

Invoice Date

Comment

Amount

NM10029-2025-26

11/24/2025

MOSQUITO AND VECTOR CONTROL ASSESSMENT

$15.06

CHK

ul

$15.06

1453

RIVERSIDE COUNTY RECORDER

Invoice

Invoice Date

Comment

Amount

25-299369

10/01/2025

RECORDER SERVICES

$50.00

12/23/2025

ul

$334.23

Invoice

12/23/2025

ul

$85.40

Invoice

12/23/2025

ul

$721.96

Invoice

12/23/2025

ul

$158.38

Invoice

12/23/2025

ul

$61.92

Invoice

12/23/2025

ul

$205.10

Invoice

12/23/2025

ul

ul

$50.00
ul

Page 50 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219503

CHK

12/23/2025

7254

RIVERSIDE COUNTY FLOOD CONTROL

219504

219505

219506

219507

219508

219509

219510

219511

2/5/2026

12/01/2025 to 12/31/2025
Amount
$1,000.00

Invoice

Invoice Date

Comment

Amount

DI2525598

09/12/2025

1269 FORCEMAIN PROJECT PLAN CHECK

$1,000.00

8993

SANTA ROSA REGIONAL RESOURCES AUTHORITY

Invoice

CHK

Invoice Date

Comment

Amount

2026-SRRRA-W-07

12/02/2025

MONTHLY SEWER TREATMENT COST SHARE - JANUARY 2026

$104,968.67

CHK

12/23/2025

$104,968.67

1131

SCE

Invoice

Invoice Date

Comment

Amount

1125-222011-394987

12/11/2025

ELECTRICITY UTILITY CHARGES

$34.89

CHK

12/23/2025

1653

STATE WATER RESOURCES CONTROL BOARD

Invoice Date

Comment

Amount

WS-1054612

12/03/2025

WATER SYSTEM ANNUAL FEES #3310036

$23,686.16

WS-1054620

12/03/2025

WATER SYSTEM ANNUAL FEES #3310076

$94,080.32

WS-1054624

12/03/2025

WATER SYSTEM ANNUAL FEES #3310075

$16,463.10

WS-1054625

12/03/2025

WATER SYSTEM ANNUAL FEES #3310076

$677.00

CHK

9219

SYSTEM GO IT LLC

Invoice Date

Comment

Amount

22129

07/31/2025

WEB AND SOFTWARE DEVELOPMENT

$1,200.00

CHK

10691

TDI REFRIGERATION

Invoice Date

Comment

Amount

160774

08/07/2025

AIR CONDITIONING REPAIR SERVICES - MERIDIAN

$11,092.84

CHK

1142

THE GAS COMPANY

Invoice Date

Comment

Amount

1125-12587009

12/15/2025

GAS UTILITY CHARGES

$17.12

1125-15424051

12/15/2025

GAS UTILITY CHARGES

$17.12

CHK

100181

THOMAS SAFFORD

Invoice Date

Comment

Amount

4M

11/28/2025

MEDICARE PART B PENALTY REIMBURSEMENT

$84.00

CHK

ul

$84.00

10608

VINCENT IORII

Invoice

Invoice Date

Comment

Amount

110425

11/04/2025

EMPLOYEE EXPENSE REIMBURSEMENT - TRAINING/TRAVEL

$213.73

12/23/2025

ul

$34.24

Invoice

12/23/2025

ul

$11,092.84

Invoice

12/23/2025

ul

$1,200.00

Invoice

12/23/2025

ul

$134,906.58

Invoice

12/23/2025

ul

$34.89

Invoice

12/23/2025

ul

ul

$213.73
ul

Page 51 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219512

CHK

12/23/2025

7277

WALTERS WHOLESALE ELECTRIC CO

Invoice

Invoice Date

Comment

Amount

S129268324.001

11/24/2025

MATERIALS AND SUPPLIES

$916.89

219513

219514

219515

0232301

01

100555

100557

2/5/2026

CHK

Amount
$916.89

10040

WATER SYSTEMS CONSULTING, INC.

Invoice

Invoice Date

Comment

Amount

11522

08/31/2025

2025 URBAN WATER MANAGEMENT AND WATER SHORTAGE CONTINGENCY PLAN

$7,308.25

CHK

12/23/2025

$7,308.25

10260

WHITE CAP CONSTRUCTION SUPPLY

Invoice

Invoice Date

Comment

Amount

50034498394

12/02/2025

SUBMERSIBLE PUMP

$3,353.18

CHK

12/23/2025

7127

WMWD EMPLOYEE ASSOCIATION

Invoice Date

Comment

Amount

121725

12/17/2025

EMPLOYEE PAYROLL DUES

$705.00

WIR

1076

METROPOLITAN WATER DISTRICT

Invoice Date

Comment

Amount

12027

11/10/2025

WIRE TRANSFER - TREATED AND UNTREATED WATER DELIVERIES

$10,643,365.99

WIR

7235

US BANK NATIONAL ASSOCIATE

Invoice Date

Comment

Amount

3093375

12/30/2025

DEBT SERVICE REVENUE BOND SERIES 2012A

$47,430.26

ACH

9943

AMERICAN COMMERCIAL TRADING, INC.

Invoice Date

Comment

Amount

16058

12/10/2025

MACHINE PARTS AND REPAIR SERVICES - EL SOBRANTE

$7,483.24

ACH

ul

$7,483.24

10503

ALLISON LOUKEH & ASSOCIATES

Invoice

Invoice Date

Comment

Amount

2025-46

12/04/2025

PROFESSIONAL SERVICES - ON-CALL SERVICES PROGRAM

$3,895.00

2025-47

12/04/2025

PROFESSIONAL SERVICES - MARCH FIELD AIR MUSEUM SIGN PROJECT

$285.00

2025-48

12/04/2025

PROFESSIONAL SERVICES - COUNTRY VILLAGE TURF

$10,380.00

2025-49

12/04/2025

PROFESSIONAL SERVICES - RUBIDOUX CSD FIRE STATION TTP

$380.00

2025-50

12/04/2025

PROFESSIONAL SERVICES - JCSD NON FUNCTIONAL TURF

$380.00

2025-51

12/04/2025

PROFESSIONAL SERVICES - CORONA CII NET PROGRAM

$285.00

2025-52

12/08/2025

PROFESSIONAL SERVICES - CITY OF RIVERSIDE SUPPORT PROGRAM

$700.00

12/31/2025

ul

$47,430.26

Invoice

12/31/2025

ul

$10,643,365.99

Invoice

12/30/2025

ul

$705.00

Invoice

12/26/2025

ul

$3,353.18

Invoice

12/23/2025

ul

ul

$16,305.00
ul

Page 52 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100558

ACH

12/31/2025

10367

ARDURRA GROUP, INC.

100559

100560

2/5/2026

12/01/2025 to 12/31/2025
Amount
$67,746.06

Invoice

Invoice Date

Comment

Amount

176576

12/09/2025

CONSTRUCTION INSPECTION SERVICES - JEFFERSON PLAN CHECK

$67,746.06

107725

ATMOSPHERIC ANALYSIS AND CONSULTING, INC.

Invoice

ACH

Invoice Date

Comment

Amount

A-34243

12/05/2025

DIGESTER GAS ANALYSIS

$365.00

ACH

12/31/2025

$365.00

1017

BABCOCK LABORATORIES INC

Invoice

Invoice Date

Comment

Amount

CJ50165-7136

10/02/2025

WATER TESTING SERVICES

$144.00

CJ51964-7136

10/31/2025

WATER TESTING SERVICES

$12.00

CL50189-7135

12/04/2025

WATER TESTING SERVICES

$44.00

CL50191-7135

12/04/2025

WATER TESTING SERVICES

$22.00

CL50214-7135

12/04/2025

WATER TESTING SERVICES

$506.00

CL50225-7138

12/04/2025

WATER TESTING SERVICES

$369.46

CL50376-7135

12/08/2025

WATER TESTING SERVICES

$66.00

CL50381-7138

12/08/2025

WATER TESTING SERVICES

$367.46

CL50382-7138

12/08/2025

WATER TESTING SERVICES

$459.96

CL50418-7138

12/08/2025

WATER TESTING SERVICES

$1,100.00

CL50422-7137

12/08/2025

WATER TESTING SERVICES

$35.00

CL50427-7135

12/08/2025

WATER TESTING SERVICES

$22.00

CL50428-7136

12/08/2025

WATER TESTING SERVICES

$12.00

CL50517-7135

12/09/2025

WATER TESTING SERVICES

$22.00

CL50525-7135

12/09/2025

WATER TESTING SERVICES

$22.00

CL50530-7135

12/09/2025

WATER TESTING SERVICES

$22.00

CL50537-7135

12/09/2025

WATER TESTING SERVICES

$165.75

CL50571-7135

12/10/2025

WATER TESTING SERVICES

$353.25

CL50601-7136

12/10/2025

WATER TESTING SERVICES

$176.00

CL50607-7135

12/10/2025

WATER TESTING SERVICES

$44.00

CL50730-7135

12/11/2025

WATER TESTING SERVICES

$22.00

CL50736-7135

12/11/2025

WATER TESTING SERVICES

$22.00

CL50744-7135

12/11/2025

WATER TESTING SERVICES

$506.00

12/31/2025

ul

ul

$4,514.88
ul

Page 53 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

Amount

100561

ACH

12/31/2025

5988

BARRY'S SECURITY SERVICE, INC

$4,356.50

100562

100563

100564

100566

100567

100568

2/5/2026

Invoice

Invoice Date

Comment

Amount

103721

12/08/2025

SECURITY SERVICES - ARLINGTON DESALTER

$1,026.00

103740

12/08/2025

SECURITY SERVICES - EL SOBRANTE

$1,758.20

103743

12/08/2025

SECURITY SERVICES - MERIDIAN

$1,572.30

9585

BIOMAGIC INC

Invoice

ACH

Invoice Date

Comment

Amount

150832

12/05/2025

ODOR CONTROL CHEMICALS

$999.92

150833

12/05/2025

ODOR CONTROL CHEMICALS

$1,037.09

150834

12/05/2025

ODOR CONTROL CHEMICALS

$1,037.09

ACH

10764

BROTHER'S TOWING OF NORCO, CORP

Invoice

Invoice Date

Comment

Amount

25538

12/10/2025

TOWING SERVICES

$800.00

ACH

6305

C WELLS PIPELINE MATERIALS

Invoice

Invoice Date

Comment

Amount

SINV25-5507

12/08/2025

PIPELINE REPAIR MATERIALS

$519.36

ACH

6304

CPACINC.COM

Invoice

Invoice Date

Comment

Amount

SI-1302286

12/04/2025

SOFTWARE - ANNUAL WATCHGUARD RENEWAL

$2,844.95

ACH

7420

DUDEK

Invoice

Invoice Date

Comment

202506475

08/08/2025

PROFESSIONAL SERVICES - HUNTER NURSERY WATER PLAN CHECK

$557.50

202507519

09/17/2025

PROFESSIONAL SERVICES - RIVERSIDE FACILITY MASTER PLAN

$12,950.00

202509436

11/17/2025

PROFESSIONAL SERVICES - RIVERSIDE FACILITIES MASTER PLAN

$9,060.00

202510330

12/09/2025

PROFESSIONAL SERVICES - UNIVERSITY HIGHLANDS FIRE FLOW

$1,067.50

202510381

12/10/2025

PROFESSIONAL SERVICES - MCKINLEY GRADE SEPARATION

$4,047.75

PY-202503996

05/30/2025

PROFESSIONAL SERVICES - VETERANS PLAZA WATER

$700.00

PY-202503997

05/30/2025

PROFESSIONAL SERVICES - TR38431 WATER IMPROVEMENT PLAN

$230.00

ACH

12/31/2025

12/31/2025

12/31/2025

12/31/2025

12/31/2025

$3,074.10
ul

$800.00
ul

$519.36
ul

$2,844.95
ul

$28,612.75
Amount

8554

FASTENAL COMPANY

Invoice

Invoice Date

Comment

Amount

CARI1122286

12/03/2025

GENERAL SUPPLIES

$41.46

12/31/2025

ul

ul

$41.46
ul

Page 54 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100569

ACH

12/31/2025

10211

FG SOLUTIONS, LLC

100571

100572

100573

100574

100575

100576

2/5/2026

12/01/2025 to 12/31/2025
Amount
$7,754.56

Invoice

Invoice Date

Comment

Amount

RWQCP-2006

12/07/2025

REGIONAL WATER QUALITY CONTROL PLANT RECONCILIATION REVIEW

$7,754.56

7291

GOLD COAST ENVIRONMENTAL, INC

Invoice

ACH

Invoice Date

Comment

Amount

PY-14419

01/09/2025

FLUME CALIBRATION SERVICES

$3,850.00

ACH

12/31/2025

$3,850.00

1452

GRAINGER

Invoice

Invoice Date

Comment

Amount

9732052189

12/04/2025

MATERIALS AND SUPPLIES

$231.54

9732052197

12/04/2025

MATERIALS AND SUPPLIES

$228.73

9735018211

12/08/2025

MATERIALS AND SUPPLIES

$8,718.29

9735419500

12/08/2025

MATERIALS AND SUPPLIES

$79.46

9735546187

12/08/2025

MATERIALS AND SUPPLIES

$928.18

9736878480

12/09/2025

MATERIALS AND SUPPLIES

$109.91

9739797992

12/11/2025

MATERIALS AND SUPPLIES

$55.08

9740405858

12/11/2025

MATERIALS AND SUPPLIES

$1,225.26

9740711594

12/11/2025

MATERIALS AND SUPPLIES

$189.69

ACH

12/31/2025

10539

HAWTHORNE MACHINERY CO

Invoice Date

Comment

Amount

SS100146242

11/16/2025

MATERIALS AND SUPPLIES

$1,252.00

ACH

10133

INDUSTRIAL SOLUTION SERVICES

Invoice Date

Comment

Amount

29501

12/05/2025

DISINFECTING CHEMICALS

$847.44

29502

12/05/2025

DISINFECTING CHEMICALS

$254.23

29560

12/09/2025

DISINFECTING CHEMICALS

$535.58

29561

12/09/2025

DISINFECTING CHEMICALS

$1,016.93

ACH

5629

INFOSEND, INC

Invoice Date

Comment

Amount

300202

11/30/2025

CUSTOMER WATER BILL PRINTING SERVICES

$16,555.51

300203

11/30/2025

CUSTOMER WATER BILL POSTAGES

$10,302.89

ACH

ul

$26,858.40

107721

INTEGRITY AUTO GLASS

Invoice

Invoice Date

Comment

Amount

I010201

12/05/2025

WINDSHIELD REPAIR SERVICES

$598.38

12/31/2025

ul

$2,654.18

Invoice

12/31/2025

ul

$1,252.00

Invoice

12/31/2025

ul

$11,766.14

Invoice

12/31/2025

ul

ul

$598.38
ul

Page 55 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100580

ACH

12/31/2025

3049

KRIEGER & STEWART, INC

100581

100583

100585

100586

100587

100588

2/5/2026

12/01/2025 to 12/31/2025
Amount
$8,231.00

Invoice

Invoice Date

Comment

Amount

51569

11/13/2025

PROFESSIONAL SERVICES - MARB GAS PIPELINE REPLACEMENT

$3,495.00

51671

12/11/2025

PROFESSIONAL SERVICES - FIRE FLOW MODELING

$4,736.00

9649

MALLORY SAFETY & SUPPLY LLC

Invoice

ACH

Invoice Date

Comment

Amount

6308561

11/30/2025

SAFETY SUPPLIES

$139.48

6311509

12/08/2025

SAFETY SUPPLIES

$749.99

ACH

12/31/2025

$889.47

8652

MESA FENCE CO, INC

Invoice

Invoice Date

Comment

Amount

9855

12/08/2025

FENCING SERVICES - WWRF

$2,340.00

ACH

12/31/2025

8855

MICHAEL BAKER INTERNATIONAL

Invoice Date

Comment

Amount

1269844

12/09/2025

PROFESSIONAL SERVICES - ORANGECREST PIPELINE REPLACEMENT

$14,484.75

ACH

10594

MICHAEL K. NUNLEY & ASSOCIATES

Invoice Date

Comment

Amount

2329

12/09/2025

PROFESSIONAL SERVICES - AS NEEDED PROJECT MANAGEMENT SUPPORT

$620.00

2330

12/09/2025

PROFESSIONAL SERVICES - WMWD/RCWD REGIONAL INTERTIE

$10,348.00

2331

12/09/2025

PROFESSIONAL SERVICES - WELL #7 FINAL DESIGN

$8,912.32

2337

12/09/2025

PROFESSIONAL SERVICES - PROJECT MANAGEMENT SUPPORT FOR STUDY TO MOVE WWRF FLOWS

$3,858.75

2338

12/09/2025

PROFESSIONAL SERVICES - PROJECT MANAGEMENT SUPPORT 1269 SEWER FORCE

$1,890.00

2342

12/09/2025

PROFESSIONAL SERVICES - HYDRAULIC EVALUATION

$7,396.50

2345

12/09/2025

PROFESSIONAL SERVICES - STERLING RESERVOIR AND PUMP STATION MODIFICATION

$7,960.00

ACH

10269

MIKE ROQUET CONSTRUCTION, INC.

Invoice Date

Comment

Amount

1021-25

11/18/2025

PAVING AND REPAIR SERVICES

$4,814.40

1107-25

10/31/2025

PAVING AND REPAIR SERVICES

$4,562.00

ACH

ul

$9,376.40

10235

NATE SASSAMAN ENTERPRISES INC

Invoice

Invoice Date

Comment

Amount

1243

12/08/2025

WESTERN MANAGER COACHING & NEW HIRE SURVEY

$1,262.00

12/31/2025

ul

$40,985.57

Invoice

12/31/2025

ul

$14,484.75

Invoice

12/31/2025

ul

$2,340.00

Invoice

12/31/2025

ul

ul

$1,262.00
ul

Page 56 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

100590

ACH

12/31/2025

7107

PACKHAM & TOOMEY INC

Invoice

Invoice Date

Comment

Amount

2025508

12/04/2025

MATERIALS AND SUPPLIES

$721.43

100591

100592

100593

100595

100596

100597

100598

100599

2/5/2026

ACH

Amount
$721.43

7273

PARKHOUSE TIRE INC

Invoice

Invoice Date

Comment

Amount

2010978193

12/05/2025

TIRES AND TIRE SERVICES

$1,055.97

ACH

12/31/2025

$1,055.97

107921

PECHANGA BAND OF INDIANS

Invoice

Invoice Date

Comment

Amount

25816

12/10/2025

TRIBAL MONITORING SERVICES - JEFFERSON AVE INTERCONNECTION PROJECT

$2,480.80

ACH

12/31/2025

10286

QUALIFIED MOBILE INC

Invoice Date

Comment

Amount

337117

12/08/2025

EPA COMPLIANT VEHICLE CLEANING SERVICES

$452.03

337118

12/08/2025

EPA COMPLIANT VEHICLE CLEANING SERVICES

$290.59

ACH

107806

RINCON CONSULTANTS INC

Invoice Date

Comment

Amount

70778

12/09/2025

PROFESSIONAL SERVICES - WMWD JEFFERSON AVE INTERCONNECTION

$11,211.75

ACH

9468

RIVERSIDE AUTO PARTS INC

Invoice Date

Comment

Amount

112925

11/29/2025

AUTO PARTS

$694.51

ACH

10710

SVT FLEET SOLUTIONS

Invoice Date

Comment

Amount

20000293-113025

11/30/2025

FLEET MANAGEMENT SERVICES

$1,750.00

20000293-120925

12/09/2025

FLEET MANAGEMENT SERVICES

$2,240.00

ACH

10691

TDI REFRIGERATION

Invoice Date

Comment

Amount

164003

12/10/2025

AIR CONDITIONING REPAIR SERVICES - MERIDIAN

$988.22

ACH

ul

$988.22

7126

UNITED WAY OF INLAND VALLEY

Invoice

Invoice Date

Comment

Amount

122925

12/29/2025

EMPLOYEE PAYROLL DONATIONS

$122.00

12/31/2025

ul

$3,990.00

Invoice

12/31/2025

ul

$694.51

Invoice

12/31/2025

ul

$11,211.75

Invoice

12/31/2025

ul

$742.62

Invoice

12/31/2025

ul

$2,480.80

Invoice

12/31/2025

ul

ul

$122.00
ul

Page 57 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

100600

ACH

12/31/2025

107907

UNIVERSAL SERVICES OF AMERICA

100601

100602

100603

100604

100605

100606

100607

100609

2/5/2026

12/01/2025 to 12/31/2025
Amount
$14,335.18

Invoice

Invoice Date

Comment

Amount

17846229

12/04/2025

JANITORIAL SERVICES - VARIOUS DISTRICT SITES

$14,335.18

2973

USA BLUEBOOK

Invoice

ACH

Invoice Date

Comment

Amount

INV00895143

11/25/2025

MATERIALS AND SUPPLIES

$345.88

ACH

12/31/2025

$345.88

9545

USA FLEET SOLUTIONS LLC

Invoice

Invoice Date

Comment

Amount

74104

12/01/2025

RECURRING SERVICES - FLEET TRACKING

$2,704.00

ACH

12/31/2025

10272

VANDERMOST CONSULTING SERVICES

Invoice Date

Comment

Amount

26166

12/03/2025

PROFESSIONAL SERVICES - 1664 EMERGENCY POTABLE WATERLINE REPAIR PROJECT

$382.50

ACH

9202

VARNER & BRANDT LLP

Invoice Date

Comment

Amount

23744-113025

11/30/2025

LEGAL SERVICES

$1,644.50

ACH

10375

WATERLINE TECHNOLOGIES INC

Invoice Date

Comment

Amount

5770966

12/03/2025

HYPOCHLORITE SOLUTIONS

$791.16

5772130

11/25/2025

HYPOCHLORITE SOLUTIONS

$791.16

5772711

12/02/2025

HYPOCHLORITE SOLUTIONS

$822.80

5772713

12/02/2025

HYPOCHLORITE SOLUTIONS

$3,762.63

ACH

7980

WEST COAST SAND & GRAVEL INC

Invoice Date

Comment

Amount

908222

12/04/2025

CLASS 2 AGGREGATE BASE

$1,605.26

908536

12/05/2025

CLASS 2 AGGREGATE BASE

$543.28

ACH

10647

WETMORE'S

Invoice Date

Comment

Amount

05P43147

12/10/2025

MATERIALS AND SUPPLIES

$48.27

ACH

ul

$48.27

4633

WOLTERS KLUWER

Invoice

Invoice Date

Comment

Amount

5416879397

11/01/2025

ACCOUNTING RESEARCH SUBSCRIPTION

$2,556.00

12/31/2025

ul

$2,148.54

Invoice

12/31/2025

ul

$6,167.75

Invoice

12/31/2025

ul

$1,644.50

Invoice

12/31/2025

ul

$382.50

Invoice

12/31/2025

ul

$2,704.00

Invoice

12/31/2025

ul

ul

$2,556.00
ul

Page 58 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

1373094077

WIR

12/31/2025

9476

GREAT-WEST LIFE & ANNUITY INSURANCE

1373098097

219528

219529

219530

219531

219532

219533

219534

2/5/2026

12/01/2025 to 12/31/2025
Amount
$11,112.56

Invoice

Invoice Date

Comment

Amount

123025-401A

12/30/2025

401A PLAN FUNDING

$11,112.56

9476

GREAT-WEST LIFE & ANNUITY INSURANCE

Invoice

WIR

Invoice Date

Comment

Amount

123025-457

12/30/2025

457 PLAN FUNDING

$40,233.77

CHK

12/31/2025

$40,233.77

1212

ACWA/JPIA

Invoice

Invoice Date

Comment

Amount

122928

12/29/2025

EMPLOYEE MEDICAL INSURANCE - JANUARY 2026

$304,910.61

CHK

12/31/2025

7320

ALEX CHANG

Invoice Date

Comment

Amount

122225

12/22/2025

EMPLOYEE EXPENSE REIMBURSEMENT - DEPARTMENT ANNUAL APPRECIATION LUNCH

$560.00

CHK

107912

ALL STATE PROPANE

Invoice Date

Comment

Amount

603212

12/08/2025

GENERAL SUPPLIES

$125.13

CHK

107990

AMANDA GARCIA

Invoice Date

Comment

Amount

SPONSORSHIP-121125

12/11/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$160.00

CHK

1589

APPLE COMPUTER INC

Invoice Date

Comment

Amount

MC34036018

12/05/2025

DISTRICT CELL PHONE PURCHASE

$645.42

CHK

8023

AQUATIC INFORMATICS INC.

Invoice Date

Comment

Amount

115852

12/04/2025

WATERTRAX DATA MANAGEMENT SUBSCRIPTION RENEWAL - SCADA

$32,169.57

CHK

ul

$32,169.57

10415

ARELLANO ASSOCIATES, LLC

Invoice

Invoice Date

Comment

Amount

23362

12/11/2025

GIS MAPPING SUPPORT SERVICES

$171.66

12/31/2025

ul

$645.42

Invoice

12/31/2025

ul

$160.00

Invoice

12/31/2025

ul

$125.13

Invoice

12/31/2025

ul

$560.00

Invoice

12/31/2025

ul

$304,910.61

Invoice

12/31/2025

ul

ul

$171.66
ul

Page 59 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219537

CHK

12/31/2025

6587

CANON FINANCIAL SERVICES, INC

Invoice

Invoice Date

Comment

Amount

42323807

12/12/2025

MATERIALS AND SUPPLIES

$68.35

42323808

12/12/2025

MATERIALS AND SUPPLIES

$213.20

42323809

12/12/2025

MATERIALS AND SUPPLIES

$1,340.60

219538

219541

219542

219543

219544

219545

219546

2/5/2026

CHK

Amount
$1,622.15

4698

CDW GOVERNMENT INC

Invoice

Invoice Date

Comment

Amount

AH2PJ1X

12/06/2025

MATERIALS AND SUPPLIES

$2,807.92

CHK

12/31/2025

$2,807.92

9571

CINTAS FIRST AID & SAFETY

Invoice

Invoice Date

Comment

Amount

4252310508

12/08/2025

UNIFORMS

$129.16

4252480818

12/09/2025

SAFETY PPE

$172.57

4252480894

12/09/2025

UNIFORMS

$1,296.56

4252660993

12/10/2025

UNIFORMS

$277.77

CHK

12/31/2025

1112

CITY OF RIVERSIDE

Invoice Date

Comment

Amount

1125-0233570001

12/09/2025

ELECTRICITY UTILITY CHARGES

$691.58

CHK

1112

CITY OF RIVERSIDE

Invoice Date

Comment

Amount

00284204

12/10/2025

POTABLE AND NON-POTABLE WATER PURCHASES - NOVEMBER 2025

$330,600.77

CHK

1112

CITY OF RIVERSIDE

Invoice

Invoice Date

Comment

Amount

00284205

12/10/2025

POTABLE WATER PURCHASES - NOVEMBER 2025

$202,567.59

CHK

6795

CLEAN TECH ENVIRONMENTAL INC

Invoice

Invoice Date

Comment

Amount

811900

12/11/2025

RECYCLING SERVICES

$816.11

915999

12/11/2025

RECYCLING SERVICES

$237.00

CHK

12/31/2025

12/31/2025

ul

$330,600.77
ul

$202,567.59
ul

$1,053.11

5016

CORE & MAIN LP

Invoice

Invoice Date

Comment

Amount

Y233819

12/10/2025

PARTS AND MATERIALS

$254.67

12/31/2025

ul

$691.58

Invoice

12/31/2025

ul

$1,876.06

Invoice

12/31/2025

ul

ul

$254.67
ul

Page 60 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219547

CHK

12/31/2025

9614

CORTECH ENGINEERING

219549

219551

219552

219553

219554

219556

219557

219558

2/5/2026

12/01/2025 to 12/31/2025
Amount
$6,977.48

Invoice

Invoice Date

Comment

Amount

55531979

12/09/2025

MATERIALS AND PARTS

$6,977.48

4518

DELL COMPUTER CORP

Invoice

CHK

Invoice Date

Comment

Amount

10852426946

12/10/2025

IT PARTS

$243.31

CHK

12/31/2025

$243.31

10026

EUROFINS TESTOIL, INC.

Invoice

Invoice Date

Comment

Amount

465168

12/10/2025

OIL SAMPLES AND SUPPLIES

$1,589.64

CHK

12/31/2025

9076

FLYERS ENERGY LLC

Invoice Date

Comment

Amount

25-536095

12/09/2025

DIESEL FUEL AND GASOLINE

$2,554.52

CHK

8067

GOLDEN STATE CONSULTANTS, INC.

Invoice Date

Comment

Amount

9905

12/04/2025

BACKFLOW PREVENTION AND INSPECTION SERVICES

$2,050.00

9909

12/09/2025

CONSTRUCTION AND INSPECTION SERVICES

$7,406.00

CHK

10344

DBA C.E.C., CUTTING EDGE CATERING

Invoice Date

Comment

Amount

5668-121825

12/18/2025

EMPLOYEE RECOGNITION EVENT CATERING SERVICES - FINAL PAYMENT

$490.69

CHK

107927

GREENFIELD LANDSCAPING AND MAINTENANCE, INC.

Invoice Date

Comment

Amount

4-W-327

12/08/2025

CIP - MARCH AIR FORCE BASE COURTYARD DEMONSTRATION GARDEN

$119,130.25

CHK

1237

HACH COMPANY

Invoice Date

Comment

Amount

14783326

12/05/2025

MATERIALS AND SUPPLIES

$158.67

CHK

ul

$158.67

107992

HANNAH TRAN

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-121125

12/11/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$160.00

12/31/2025

ul

$119,130.25

Invoice

12/31/2025

ul

$490.69

Invoice

12/31/2025

ul

$9,456.00

Invoice

12/31/2025

ul

$2,554.52

Invoice

12/31/2025

ul

$1,589.64

Invoice

12/31/2025

ul

ul

$160.00
ul

Page 61 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219559

CHK

12/31/2025

2859

HOME DEPOT INCORPORATED

Invoice

Invoice Date

Comment

Amount

3905259

12/04/2025

MATERIALS AND SUPPLIES

$77.52

4024947

12/03/2025

MATERIALS AND SUPPLIES

$296.81

8900456

12/09/2025

MATERIALS AND SUPPLIES

$64.05

9012473

12/08/2025

MATERIALS AND SUPPLIES

$90.84

219560

219562

219564

219565

219567

219568

219569

2/5/2026

CHK

Amount
$529.22

9480

ICONIX WATERWORKS (US) INC.

Invoice

Invoice Date

Comment

Amount

U2516049979

12/09/2025

GENERAL SUPPLIES

$964.04

U2516050504

12/11/2025

GENERAL SUPPLIES

$1,103.78

CHK

107988

JENNA IBANEZ

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-120925

12/09/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$599.00

CHK

107996

JESS HERNANDEZ

Invoice

Invoice Date

Comment

Amount

121925

12/19/2025

RISK CLAIM PAYMENT

$4.32

CHK

10540

JRA PAINTING, INC

Invoice

Invoice Date

Comment

3432

12/06/2025

MARCH JOINT POWERS AUTHORITY SIGNAGES REMOVAL - MERIDIAN

$2,700.00

3433

12/06/2025

PAINTING SERVICES - MERIDIAN

$6,450.00

CHK

12/31/2025

12/31/2025

12/31/2025

12/31/2025

$2,067.82

ul

$9,150.00
Amount

8068

KIMLEY-HORN AND ASSOCIATES, INC
Comment

Amount

34041401

11/30/2025

PROFESSIONAL SERVICES - BERGAMONT PARK

$955.51

CHK

107987

KYLIE PANNO

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-120925

12/09/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$550.00

CHK

4665

LOWE'S HOME CENTERS, LLC

Invoice

Invoice Date

Comment

Amount

981278-PYWPWO

12/04/2025

MATERIALS AND SUPPLIES

$506.46

984073-PYVITE

12/04/2025

MATERIALS AND SUPPLIES

$135.70

987214-PYVXTM

12/04/2025

MATERIALS AND SUPPLIES

$61.52

12/31/2025

ul

$4.32

Invoice Date

12/31/2025

ul

$599.00

Invoice

12/31/2025

ul

ul

$955.51
ul

$550.00
ul

$703.68
ul

Page 62 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219571

CHK

12/31/2025

8544

MAIN STREET SIGNS

Invoice

Invoice Date

Comment

Amount

49364

12/09/2025

SIGNS AND SUPPLIES

$641.63

49365

12/09/2025

SIGNS AND SUPPLIES

$59.81

219574

219575

219576

219577

219578

219579

219580

2/5/2026

CHK

Amount
$701.44

107986

MICHELLE ARIAS

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-120925

12/09/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$540.00

CHK

12/31/2025

$540.00

10654

MONTROSE AIR QUALITY SERVICES

Invoice

Invoice Date

Comment

Amount

CINV-461858

12/05/2025

ENGINE TESTING - 2025 HOLCOMB ENGINE EMISSION COMPLIANCE

$13,320.00

CINV-461859

12/05/2025

ENGINE TESTING - 2025 HOLCOMB ENGINE EMISSION COMPLIANCE

$9,810.00

CHK

12/31/2025

100835

MURRIETA VALLEY UNIFIED SCHOOL DISTRICT

Invoice Date

Comment

Amount

SPONSORSHIP-122225

12/22/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$5,000.00

CHK

107858

PACIFIC WEST UNDERGROUND, INC.

Invoice Date

Comment

Amount

6-W-311A

11/30/2025

CIP PROJECT - ORANGECREST PIPELINE REPLACEMENT PROJECT

$111,755.15

CHK

9226

PATRIOT ENVIRONMENTAL SERVICES

Invoice Date

Comment

Amount

INV402243819

06/26/2025

E-WASTE PICK UP AND DISPOSAL SERVICES - EL SOBRANTE

$3,501.06

CHK

9989

PAULA MORA

Invoice Date

Comment

Amount

101625

10/16/2025

EMPLOYEE EXPENSE REIMBURSEMENT - MISCELLANEOUS MILEAGE

$286.92

121125

12/11/2025

EMPLOYEE EXPENSE REIMBURSEMENT - EVENT/TRAVEL

$411.07

CHK

ul

$697.99

8340

PLUMBERS DEPOT INC

Invoice

Invoice Date

Comment

Amount

PD-58787

05/20/2025

MATERIALS AND SUPPLIES

$4,695.90

PD-59947

10/30/2025

MATERIALS AND SUPPLIES

$9,585.10

PD-59948

10/30/2025

MATERIALS AND SUPPLIES

$1,318.17

PD-60101

11/24/2025

MATERIALS AND SUPPLIES

$4,484.98

PD-60108

11/24/2025

MATERIALS AND SUPPLIES

$3,926.65

PD-60150

12/02/2025

MATERIALS AND SUPPLIES

$4,472.23

12/31/2025

ul

$3,501.06

Invoice

12/31/2025

ul

$111,755.15

Invoice

12/31/2025

ul

$5,000.00

Invoice

12/31/2025

ul

$23,130.00

Invoice

12/31/2025

ul

ul

$28,483.03
ul

Page 63 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219581

CHK

12/31/2025

10106

PRES TECH EQUIPMENT COMPANY

219582

219583

219584

219585

219586

219587

219588

219589

2/5/2026

12/01/2025 to 12/31/2025
Amount
$4,141.87

Invoice

Invoice Date

Comment

Amount

INV-001449

12/04/2025

MATERIALS AND SUPPLIES

$4,141.87

10074

QUALITY SURFACE MAINTENANCE

Invoice

CHK

Invoice Date

Comment

Amount

01304

12/01/2025

STREET SWEEPING SERVICES - WWRF

$575.00

1958

12/01/2025

STREET SWEEPING SERVICES - EL SOBRANTE

$270.00

CHK

12/31/2025

$845.00

107989

RAQUEL CARLSON

Invoice

Invoice Date

Comment

Amount

SPONSORSHIP-121125

12/11/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$160.00

CHK

12/31/2025

7149

RDO EQUIPMENT CO.

Invoice Date

Comment

Amount

W1553335

12/11/2025

BACKHOE LOADER REPAIR SERVICES - EL SOBRANTE

$6,992.37

CHK

9489

RED WING BUSINESS ADVANTAGE ACCOUNT

Invoice Date

Comment

Amount

20251210029092

12/10/2025

STEEL TOED SAFETY BOOTS

$578.93

CHK

107872

RICHARDS, WATSON & GERSHON A PROFESSIONAL CORPORATION

Invoice Date

Comment

Amount

255861

11/18/2025

LEGAL SERVICES

$2,121.60

CHK

6404

RICK ENGINEERING COMPANY

Invoice Date

Comment

Amount

0111796

11/25/2025

PROFESSIONAL SERVICES - LA SIERRA RELOCATION

$1,600.00

0111871

11/25/2025

PROFESSIONAL SERVICES - WMWD MADISON AVE AND SEWER DESIGN

$1,575.00

CHK

1979

RIVERSIDE COUNTY WASTE MANAGEMENT

Invoice Date

Comment

Amount

202511000124

12/16/2025

COUNTY REFUSE SERVICE CHARGE

$320.90

CHK

ul

$320.90

4228

RUBIDOUX COMMUNITY SERVICES DISTRICT

Invoice

Invoice Date

Comment

Amount

WMWD-120425

12/04/2025

EARTHSOFT PROGRAM - MWD REIMBURSABLE COSTS

$25,361.00

12/31/2025

ul

$3,175.00

Invoice

12/31/2025

ul

$2,121.60

Invoice

12/31/2025

ul

$578.93

Invoice

12/31/2025

ul

$6,992.37

Invoice

12/31/2025

ul

$160.00

Invoice

12/31/2025

ul

ul

$25,361.00
ul

Page 64 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219591

CHK

12/31/2025

1131

SCE

Invoice

Invoice Date

Comment

Amount

1125-222010-676038

12/16/2025

ELECTRICITY UTILITY CHARGES

$85.48

1125-222014-503779

11/17/2025

ELECTRICITY UTILITY CHARGES

$26.04

1125-322010-396152

11/18/2025

ELECTRICITY UTILITY CHARGES

$20.11

1131-1125-1524

12/22/2025

ELECTRICITY UTILITY CHARGES

$220,427.01

1225-222014-503779

12/17/2025

ELECTRICITY UTILITY CHARGES

$24.74

1225-322010-396152

12/18/2025

ELECTRICITY UTILITY CHARGES

$18.26

219593

219594

219595

219596

219597

219598

2/5/2026

CHK

Amount
$220,601.64

1564

SOUTH COAST AQMD

Invoice

Invoice Date

Comment

Amount

4639851

12/02/2025

ANNUAL RENEWAL FEES FACILITY ID 80719

$291.94

4640137

12/02/2025

ANNUAL RENEWAL FEES FACILITY ID 148032

$565.63

CHK

12/31/2025

$857.57

1564

SOUTH COAST AQMD

Invoice

Invoice Date

Comment

Amount

4640138

12/02/2025

ANNUAL RENEWAL FEES FACILITY ID 148033

$565.63

4642941

12/02/2025

EMISSIONS FEES FACILITY ID 148032

$170.94

4642942

12/02/2025

EMISSIONS FEES FACILITY ID 148033

$170.94

CHK

12/31/2025

9976

SOUTHERN CONTRACTING COMPANY

Invoice Date

Comment

Amount

4-W-319

12/16/2025

CIP PROJECT - PERMANENT POWER GENERATORS AT MOCKINGBIRD PUMP STATION

$250,586.25

CHK

8228

STATE OF CALIFORNIA DEPARTMENT OF JUSTICE

Invoice Date

Comment

Amount

011401

12/04/2025

PRE-EMPLOYMENT FINGERPRINT PROCESSING

$128.00

CHK

107991

TASHA RUNYAN

Invoice Date

Comment

Amount

SPONSORSHIP-121125

12/11/2025

SPONSORSHIP - KREIGER GRANT RECIPIENT 2025

$160.00

CHK

ul

$160.00

1142

THE GAS COMPANY

Invoice

Invoice Date

Comment

Amount

1125-14157790

12/15/2025

GAS UTILITY CHARGES

$15.29

1125-15578375

12/16/2025

GAS UTILITY CHARGES

$24.11

1125-15922844

12/15/2025

GAS UTILITY CHARGES

$455.07

1225-16342026

12/26/2025

GAS UTILITY CHARGES

$15.29

1225-16410039

12/23/2025

GAS UTILITY CHARGES

$16.64

12/31/2025

ul

$128.00

Invoice

12/31/2025

ul

$250,586.25

Invoice

12/31/2025

ul

$907.51

Invoice

12/31/2025

ul

ul

$526.40
ul

Page 65 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

Check #

Type

Check Date

Vendor

Vendor Name

219600

CHK

12/31/2025

107915

DBA/ PAX WATER TECHNOLOGIES

219602

9000003457

9000003458

9000003459

9000003460

9000003461

2/5/2026

12/01/2025 to 12/31/2025
Amount
$9,740.60

Invoice

Invoice Date

Comment

Amount

INV0040320

09/11/2025

MATERIALS AND SUPPLIES

$9,740.60

107711

WILLIAMS SCOTSMAN, INC.

Invoice

CHK

Invoice Date

Comment

Amount

9025127451

12/02/2025

STORAGE CONTAINER RENTAL

$98.04

EPY

12/31/2025

$98.04

2723

CALOLYMPIC SAFETY

Invoice

Invoice Date

Comment

Amount

3003090

11/06/2025

GENERAL SAFETY SUPPLIES

$188.78

EPY

12/03/2025

5024

HARRINGTON INDUSTRIAL PLASTICS

Invoice Date

Comment

Amount

012O0582

11/13/2025

MATERIALS AND SUPPLIES

$546.86

012O0608

11/14/2025

MATERIALS AND SUPPLIES

$528.24

EPY

2299

TERMINIX INTERNATIONAL

Invoice Date

Comment

Amount

465490435

10/31/2025

PEST CONTROL SERVICES - VARIOUS DISTRICT SITES

$3,075.00

465490436

10/31/2025

PEST CONTROL SERVICES - ARLINGTON DESALTER

$83.00

EPY

2723

CALOLYMPIC SAFETY

Invoice Date

Comment

Amount

3003195

11/18/2025

SUPPLIES

$151.83

EPY

ul

$151.83

5024

HARRINGTON INDUSTRIAL PLASTICS

Invoice

Invoice Date

Comment

Amount

012O0715

11/21/2025

MATERIALS AND SUPPLIES

$1,805.81

012O0788

11/25/2025

MATERIALS AND SUPPLIES

$1,442.38

12/16/2025

ul

$3,158.00

Invoice

12/16/2025

ul

$1,075.10

Invoice

12/16/2025

ul

$188.78

Invoice

12/03/2025

ul

ul

$3,248.19
ul

Page 66 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

9000003462

EPY

12/31/2025

5024

HARRINGTON INDUSTRIAL PLASTICS

Invoice

Invoice Date

Comment

Amount

012O1008

12/11/2025

MATERIALS AND SUPPLIES

$985.91

Various

CHK

Amount
$985.91

10723

CUSTOMER REFUNDS

Invoice

Invoice Date

Comment

Amount

Various

6/24/2024

VARIOUS CUSTOMER REFUNDS

$8,377.03

8/31/2024

ul

$8,377.03
ul

STAFF CELL PHONE REIMBURSEMENTS:
$13,179.68
100374

ACH

12/03/2025

107744

ADAM CASTANEDA

$100.00

100394

ACH

12/03/2025

9988

GEORGE CARDENAS

$84.24

100398

ACH

12/03/2025

10567

JUSTIN CRIVELLO

$66.19

100418

ACH

12/03/2025

7120

TERESA PATTON

$300.00

219250

CHK

12/03/2025

8495

DEAN STANDING WARRIOR

$100.00

219271

CHK

12/03/2025

9893

JONTE TURNER

$100.00

219272

CHK

12/03/2025

10546

JOSHUA A. AGUILAR

$200.00

219277

CHK

12/03/2025

9975

MARVIN ESQUIVEL

$67.70

219283

CHK

12/03/2025

5551

PAUL RUGGE

$100.00

219289

CHK

12/03/2025

10303

RICHARD MICHAEL FRANZO

$100.00

219290

CHK

12/03/2025

9816

SARAH MACDONALD

$100.00

219296

CHK

12/03/2025

9977

TINA DOUGHTON

$91.11

100433

ACH

12/10/2025

10324

CHARLES C KITCHENS

$85.39

100438

ACH

12/10/2025

10020

DOUGLAS MCCARTNEY

$100.00

100447

ACH

12/10/2025

9737

JAMES CHATWIN

$300.00

100448

ACH

12/10/2025

10153

JESSE CORGAN

$200.00

100456

ACH

12/10/2025

8148

SAMUEL SMITH

$100.00

100464

ACH

12/10/2025

7146

WAYNE CAWELTI

$100.00

219310

CHK

12/10/2025

8020

BEN BURGETT

$100.00

219315

CHK

12/10/2025

107735

CARLOS FLOREZ

$183.90

219338

CHK

12/10/2025

9537

DEAN HILLARD BRADSHAW

$100.00

219346

CHK

12/10/2025

10252

FERNANDO BAHENA

$100.00

219357

CHK

12/10/2025

10695

JOEL PEREZ

$300.00

219359

CHK

12/10/2025

9435

LARRY CHANES

$600.00

219367

CHK

12/10/2025

7833

NICK BARNES

$78.85

219369

CHK

12/10/2025

107861

OSBALDO LEON-ESCOTO

$100.00

2/5/2026

Page 67 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219375

CHK

12/10/2025

9719

ROBERT WEBB

$100.00

219383

CHK

12/10/2025

8172

TONY POLLAK

$100.00

219387

CHK

12/10/2025

10608

VINCENT IORII

$100.00

219391

CHK

12/10/2025

7091

WILLIAM MUSGRAVES

$55.51

100477

ACH

12/16/2025

9752

DONALD GEHNERT

$100.00

100489

ACH

12/16/2025

9793

JULIO FRIAS

$100.00

100498

ACH

12/16/2025

107880

ROBERT MCCLURE

$100.00

100502

ACH

12/16/2025

7305

TOM TABOR

$100.00

219396

CHK

12/16/2025

9097

ALFREDO MONDRAGON

$300.00

219401

CHK

12/16/2025

107745

ARTURO DUENAS

$100.00

219408

CHK

12/16/2025

107891

CHRISTOPHER JIMENEZ

$100.00

219421

CHK

12/16/2025

8991

GARY MILLER

$200.00

219422

CHK

12/16/2025

10056

GRACE CARDENAS

$200.00

219425

CHK

12/16/2025

7890

JEREMY SCOTT

$56.61

219427

CHK

12/16/2025

8892

JOEL BRAVO

$100.00

219434

CHK

12/16/2025

9677

LEOBARDO BECERRA

$400.00

219450

CHK

12/16/2025

9466

THOMAS KLEVE

$100.00

100508

ACH

12/23/2025

9231

ALLISON CLARK

$100.00

100528

ACH

12/23/2025

8117

JOHN WOLBERD

$100.00

100529

ACH

12/23/2025

107918

JOSEPH PORTO

$144.62

100532

ACH

12/23/2025

10506

LIEN-CHI CANTUBA

$100.00

100533

ACH

12/23/2025

9718

LYNDY LEWIS

$200.00

100538

ACH

12/23/2025

8070

RAY VARGAS JR.

$100.00

100541

ACH

12/23/2025

8384

SCOTT PAGE

$100.00

100542

ACH

12/23/2025

7336

SONIA HUFF

$100.00

100548

ACH

12/23/2025

2448

TIM BARR

$39.99

100553

ACH

12/23/2025

7355

YUN ZHENG

$300.00

219457

CHK

12/23/2025

107802

ANDREW HAMMOND

$81.50

219464

CHK

12/23/2025

10526

BRETT RINELLA

$100.00

2/5/2026

Amount

Page 68 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219474

CHK

12/23/2025

10399

DERRIEN COTTON

$200.00

219477

CHK

12/23/2025

107966

ESAU OLIVO

$100.00

219487

CHK

12/23/2025

7823

JORGE VALENCIA

$200.00

219492

CHK

12/23/2025

7425

MARIBEL ARIMAS

$211.18

219494

CHK

12/23/2025

107868

MASON WILCOX

$63.87

219496

CHK

12/23/2025

9126

MICHAEL MOUSER

$184.14

219497

CHK

12/23/2025

9890

MICHELLE ADAMS

$100.00

219501

CHK

12/23/2025

10713

KENENTH RILEY KING

$100.00

219516

CHK

12/23/2025

10055

ZUZANNA RAND

$300.00

100556

ACH

12/31/2025

107744

ADAM CASTANEDA

$100.00

100565

ACH

12/31/2025

10324

CHARLES C KITCHENS

$85.39

100570

ACH

12/31/2025

9988

GEORGE CARDENAS

$84.39

100577

ACH

12/31/2025

10520

JOSEPH GOMEZ

$100.00

100578

ACH

12/31/2025

107716

JOSH SONG

$170.33

100579

ACH

12/31/2025

10567

JUSTIN CRIVELLO

$66.19

100582

ACH

12/31/2025

107704

MELISSA BUSTAMONTE

$100.00

100584

ACH

12/31/2025

10111

MICAH EMERINE

$400.00

100589

ACH

12/31/2025

10741

NYDIA DOOLITTLE

$100.00

100594

ACH

12/31/2025

107819

RICK ARAGON

$97.46

100608

ACH

12/31/2025

7091

WILLIAM MUSGRAVES

$55.56

219535

CHK

12/31/2025

7243

ARTURO JASSO

$100.00

219536

CHK

12/31/2025

10625

BRIAN NOH

$100.00

219539

CHK

12/31/2025

10251

CHALLEN ANNE PETERSON

$100.00

219540

CHK

12/31/2025

107891

CHRISTOPHER JIMENEZ

$100.00

219548

CHK

12/31/2025

10124

DDAZE PHUONG

$200.00

219550

CHK

12/31/2025

10735

ELAHEH YAZDANI

$100.00

219555

CHK

12/31/2025

10056

GRACE CARDENAS

$100.00

2/5/2026

Amount

Page 69 of 70

Cash Disbursement Report
Company: 10

Cash Code: 10, 19

12/01/2025 to 12/31/2025

Check #

Type

Check Date

Vendor

Vendor Name

219561

CHK

12/31/2025

107925

JACK BAKER

$88.65

Amount

219563

CHK

12/31/2025

10268

JENNIFER MCMULLIN

$300.00

219566

CHK

12/31/2025

9845

JUAN MAZARIEGOS

$500.00

219570

CHK

12/31/2025

10325

LUIS CARDENAS

$189.22

219572

CHK

12/31/2025

7561

MALLORY GANDARA O'CONOR

$189.18

219573

CHK

12/31/2025

9975

MARVIN ESQUIVEL

$67.40

219590

CHK

12/31/2025

9816

SARAH MACDONALD

$200.00

219592

CHK

12/31/2025

10407

SEAN DIAZ

$100.00

219599

CHK

12/31/2025

9977

TINA DOUGHTON

$91.11

219601

CHK

12/31/2025

10608

VINCENT IORII

$100.00

219603

CHK

12/31/2025

10055

ZUZANNA RAND

$100.00

UL REPORT TOTAL:

2/5/2026

$19,554,945.92

Page 70 of 70

Agenda Item: 6C
Date: March 4, 2026
TO: THE BOARD OF DIRECTORS
Laura Roughton, President
Fauzia Rizvi, Vice President
Brenda Dennstedt, Secretary-Treasurer
Gracie Torres
Mike Gardner
FROM: Craig D. Miller, P.E., General Manager

ADOPT A RESOLUTION AUTHORIZING WESTERN MUNICIPAL WATER
DISTRICT TO JOIN THE CALIFORNIA FIXED INCOME TRUST MEMBERSHIP
AND TO INVEST IN SHARES OF THE TRUST AND IN INDIVIDUAL ACCOUNTS
RECOMMENDATION:
The Finance Committee and Staff recommend the Board of Directors:
1. Adopt Resolution 3371 authorizing Western Municipal Water District to join with
other public agencies as a member of the California Fixed Income Trust and invest
in shares of the trust and in individual portfolios. As a member, Western Municipal
Water District will be an official member of the California Fixed Income Trust, a
joint exercise of powers entity, with voting rights.
EXECUTIVE SUMMARY:
The California Fixed Income Trust is recommended as a short-term investment option for
Western Municipal Water District to diversify beyond the State of California’s Local
Agency Investment Fund and the California Asset Management Program. The California
Fixed Income Trust is an allowable investment option under the Board-approved
investment policy, providing competitive interest rates and investing in government
securities and highly rated, short-term commercial debt. Participating in the California
Fixed Income Trust as a member will allow for more diversity in the short-term investment

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
Agenda Item: 6C
portfolio while also staying within the constraints of California Government Code and
seeking to continue to protect principal, meet liquidity needs, and enhance investment
earnings over time. As a member, Western Municipal Water District will have voting rights
and potential representation on the California Fixed Income Trust’s Board of Trustees,
enhancing governance oversight.
BUDGET IMPACT:
As with all money market funds, local government investment pools like California’s Local
Agency Investment Fund and the California Asset Management Program, all expenses
of the trust are deducted from the pool’s yield. The California Fixed Income Trust’s
expense ratio is currently at a below market level of six basis points or 0.06%, which
reflects a fee waiver from its investment advisor. As the California Fixed Income Trust
was just recently formed, the investment advisor is waving most of its advisory fees to
help start the pool at a competitive interest rate. It is expected that the investment advisor
will increase its contracted fee gradually to market levels but continue to achieve a
competitive yield against other options. Since the expenses are deducted from the
interest percentage, there are no out-of-pocket expenses for money invested in the
California Fixed Income Trust.
DETAIL:
Western Municipal Water District (Western Water) historically used California’s Local
Agency Investment Fund (LAIF) for short-term investment of its cash as it provides safety
and liquidity at generally higher earnings rates than traditional bank accounts. In 2025,
Western Water added the California Asset Management Program (CAMP) to diversify
and obtain higher yields during certain interest rate environments that favor higher rates
on the shortest dated fixed income securities, usually under 90 days, which is
advantageous in rising rate environments. In contrast, LAIF typically invests with a
strategy around a weighted average maturity of 250 days, favoring slightly longer dated
securities and provides higher rates during a falling interest rate environment. However,
LAIF does not provide Western Water with any direct access to staff managing the
investment of the funds or in its governance, as it is fully managed by the State of
California Treasurer’s office.
Adding the California Fixed Income Trust (CalFIT) to Western Water’s investment
strategy is recommended as an additional short-term investment option to provide
additional diversification of short-term cash balances. Diversifying options is beneficial as
Western Water can have substantial cash balances at certain times of the year ranging
between $30 and $50 million after large property tax receipts or in anticipation of major
Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
Agenda Item: 6C
funding needs like capital projects or large water purchases. As CalFIT is very similar in
structure and strategy to CAMP, adding it as an option would allow Western Water staff
to reduce risk by splitting short-term cash balances between CalFIT and CAMP.
CalFIT was formed in 2025 and is governed by an appointed Board of Trustees which is
a joint powers authority under California Government Code Section 6509.7. CalFIT was
created by California public agencies, offers the Stable Value Pool, and is eligible for
public agency investments pursuant to California Government Code Section 53601(p).
The Stable Value Pool is an investment solution for local governments’ most liquid
reserves and invests in high-quality, short-term securities designed to meet the objectives
of safety, liquidity, and return. This investment is an allowable option within Western
Water’s current investment policy, similar to CAMP and LAIF.
CalFIT is overseen by a Board of Trustees composed entirely of finance officials from
California public agencies, ensuring the organization remains accountable solely to its
public agency shareholders. The Board currently consists of four members; However, it
is expected that the CalFIT Board will expand due to additional membership, which may
create an opportunity for Western Water to appoint a staff member to serve as a trustee.
CalFIT’s Investment Adviser, Chandler Asset Management, who also manages Western
Water’s main investment portfolio, provides day-to-day portfolio management and
program administrative services. Although CalFIT itself was recently formed, Chandler
Asset Management was founded in 1988 and manages over $45 billion in assets, with a
particular background and focus on local government and Southern California water
district clients. Having Chandler Asset Management as the investment advisor provides
Western Water staff with direct access to the personnel managing the funds and
information about investment decision making and performance. CalFIT’s service
providers also include U.S. Bank (Custodian), CliftonLarsonAllen LLP (Auditor), and
Gibbons & Conley (Legal Counsel).
CalFIT will strengthen and diversify Western Water’s short-term investment portfolio in
accordance with the safety, liquidity, and return hierarchy. Key benefits of CalFIT include:
•

Stable Net Asset Value (NAV): The pool is designed to maintain a stable NAV of
$1.00 per share, which is critical for principal preservation.

•

High Rating: CalFIT is rated AAA by S&P Global, reflecting the highest degree of
safety for principal invested.

•

Liquidity: The pool offers same-day liquidity for redemptions submitted by 12:00
p.m. Pacific Time.

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
Agenda Item: 6C
•

Flexibility: Unlimited investments and withdrawals.

•

Competitive yields: 7-day and 30-day yield at 3.76% and 3.78%, respectively, as
of February 9th, 2026. In comparison, CAMP has a similar yield as of February
6th, 2026, of 3.85%.

•

Financial Structure: Dividends accrue daily and are paid monthly, with no
transaction fees, ensuring efficient cash management.

•

Local Focus: Formed in California, by California government agencies and
managed by a California-based investment firm, Chandler Asset Management,
Inc.

REASON FOR ACTION:
Participating in CalFIT will allow for more diversity in Western Water’s short-term
investment portfolio, while also staying within the constraints of California Government
Code and seeking to continue to protect principal, meet liquidity needs, and enhance
investment earnings over time.
SOLUTION:
Adopt Resolution 3371.
STRATEGIC PRIORITIES REFERENCE:
This action aligns with Western Water’s strategic priority of Financial Stewardship.
LEGAL COUNSEL REVIEW:
The attached resolution is a standard resolution provided by the Trust for all new
entrants.
Respectfully submitted by:
Craig D. Miller, P.E., General Manager

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
Agenda Item: 6C
Attachments:
1. Resolution 3371
2. CalFIT Stable Value Pool Fact Sheet as of January 31, 2026
3. CalFIT Joint Exercise of Powers Agreement
4. CalFIT Information Statement

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Attachment 1
RESOLUTION 3371
A RESOLUTION OF THE BOARD OF DIRECTORS OF
WESTERN MUNICIPAL WATER DISTRICT OF
RIVERSIDE COUNTY AUTHORIZING WESTERN
MUNICIPAL WATER DISTRICT OF RIVERSIDE
COUNTY (“PUBLIC AGENCY”) TO JOIN WITH OTHER
PUBLIC AGENCIES AS A PARTICIPANT OF THE
CALIFORNIA FIXED INCOME TRUST AND TO INVEST IN
SHARES OF THE TRUST AND IN INDIVIDUAL
PORTFOLIOS
WHEREAS, Section 6509.7 of Title 1, Division 7, Chapter 5 of the Government
Code of the State of California (the “Joint Exercise of Powers Act”) provides that, if
authorized by their legislative or other governing bodies, two or more public agencies
that have the authority to invest funds in their treasuries may, by agreement, jointly
exercise that common power;
WHEREAS, under Sections 6500 and 6509.7(b) of the Joint Exercise of
Powers Act, a “public agency” includes, but is not limited to, any California county,
county board of education, county superintendent of schools, city, public corporation,
public district, regional transportation commission, state department or agency, any
joint powers authority formed pursuant to the Joint Exercise of Powers Act by public
agencies or any nonprofit corporation whose membership is confined to public
agencies or public officials;
WHEREAS, public agencies that constitute local agencies, as that term is
defined in Sections 53600 of Title 5, Division 2, Part 1, Chapter 4, Article 2 of the
Government Code of the State of California (the “California Government Code”), are
authorized pursuant to Section 53601(p), to invest all money belonging to, or in the
custody of, a local agency not required for its immediate need in shares of beneficial
interest issued by a joint powers authority organized pursuant to Section 6509.7 of
the California Government Code that invests in the securities and obligations
authorized in subdivisions (a) to (q), inclusive, of Government Code Section 53601;
WHEREAS, the California Fixed Income Trust (the “Trust”) was established,

R-3371
pursuant to and in accordance with the Joint Exercise of Powers Act, by a Declaration
of Trust, made as of July 22, 2025, as subsequently amended from time to time
(the “Declaration of Trust”), as a vehicle for public agencies to jointly exercise their
common power to invest the proceeds of debt issues and Public Agency surplus
funds;
WHEREAS, pursuant to and in accordance with the Joint Exercise of Powers
Act, the Public Agency desires to join the other public agencies which are or will be
Participants of the Trust by adopting and executing the Declaration of Trust, a form
which is on file in the office of the Assistant General Manager/Chief Financial Officer;
WHEREAS, the Public Agency is a “public agency” as that term is defined in
Sections 6500 and 6509.7(b) of the Joint Exercise of Powers Act and a “local agency”
as that term is defined in Section 53600 of the California Government Code;
WHEREAS, the Public Agency is otherwise permitted to be a Participant of the
Trust and to invest funds in the Trust and in the individual portfolios to be managed
by the Investment Adviser to the Trust (“Individual Portfolios”); and
WHEREAS, a program guide describing the Trust and the Individual Portfolios
(the “Program Guide”) is on file in the office of the Assistant General Manager/Chief
Financial Officer.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the
Public Agency as follows:
Section 1. The Public Agency shall join with other public agencies pursuant to
and in accordance with the Joint Exercise of Powers Act by executing the Declaration
of Trust and thereby becoming a Participant in the Trust, which Declaration of Trust
is hereby approved and adopted. A copy of the Declaration of Trust, which is available
in the office of the Assistant General Manager/Chief Financial Officer shall be filed
with the minutes of the meeting at which this Resolution was adopted. The General
Manager is hereby authorized to execute, and the Board Secretary-Treasurer is
hereby authorized to attest and deliver, the Declaration of Trust.
Section 2. The Public Agency is hereby authorized to purchase shares in the

R-3371
Trust from time to time with available funds of the Public Agency, and to redeem
some or all of those shares from time to time as such funds are needed.
Section 3. The Public Agency is hereby authorized to invest available funds
of the Public Agency from time to time in one or more Individual Portfolios managed
by the Investment Adviser to the Trust and described in the Program Guide.
Section 4. The appropriate officers, agents and employees of the Public
Agency are hereby authorized and directed in the name and on behalf of the Public
Agency to take all actions and to make and execute any and all certificates,
requisitions, agreements, notices, consents, warrants and other documents, and any
changes, amendments, modifications, or waivers thereto which they, or any of them,
might deem necessary or appropriate in order to accomplish the purposes of this
Resolution.
Section 5. This Resolution shall become effective immediately following its
adoption.
ADOPTED, this 4th day of March, 2026.

LAURA ROUGHTON
President

R-3371
March 4, 2026
I HEREBY CERTIFY that the foregoing is a full, true and correct copy of Resolution
3371 adopted by the Board of Directors of Western Municipal Water District of
Riverside County at its regular meeting held March 4, 2026.

BRENDA DENNSTEDT
Secretary-Treasurer

Attachment 2

Stable Value Pool
Fact Sheet
As of January 31, 2026

S&P rating: AAAm

Conservative Investment Approach
• The portfolio seeks to maintain $1.00 net asset value with a
maximum weighted average maturity of 60 days and a maximum
weighted average life of 90 days.

Portfolio Statistics
7-Day Yield: 3.79%
30-Day Yield: 3.80%
WAM: 50 days
WAL: 74 days
Fund Assets: $395 million

• CalFIT invests in various types of debt obligations including
obligations guaranteed by the full faith and credit of the United
States, U.S.-government agency obligations, corporate
obligations, asset-backed securities, bank obligations and other
obligations permitted by applicable California government code.

Portfolio Composition
Bank
Instruments,
28.7%

Repurchase
Agreements,
20.2%

Commercial
Paper, 22.1%

• The portfolio is also managed to the requirements of GASB 79,
which requires 10% daily and 30% weekly liquidity.
Managed by a Firm with a Public Sector Focus

Money
Market
Funds, 5.2%
U.S.
Treasuries,
7.6%

Asset Backed
Commercial
Paper, 16.3%

Portfolio Maturity Distribution
181+ days,
10.8%
1 to 7 days,
40.9%
91 to 180
days, 19.2%

• Chandler Asset Management, Inc. (Chandler) is the investment
adviser and operational manager for CalFIT. Founded in 1988,
Chandler managed $45.2 billion in assets, including more than
$29.9 billion for local governments in California, as of 1/31/26.
For more information, please contact us:
• Phone: 844-915-5700
• Website: www.calfitfund.com
• Email: [email protected]
7-Day Yields
4.10%
4.05%
4.00%

31 to 90 days,
20.6%

8 to 30 days,
8.5%

3.95%

Portfolio Credit Quality

3.85%

3.90%

3.80%

AAAm, 5.2%
A-1+, 29.3%

3.75%
3.70%
3.65%
3.60%

A-1, 65.5%

©2026 Chandler Asset Management, Inc. An independent, SEC-Registered investment adviser. This report 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 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 an 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 rate, 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. Portfolio Credit Quality ratings are derived from S&P Global Ratings. Portfolio Maturity Distribution reflects GASB 79 rules for direct and non-direct U.S.
government securities.

Attachment 3

Joint Exercise of
Powers Agreement
California Fixed Income Trust (“CalFIT”)

Joint Exercise of Powers Agreement

TABLE OF CONTENTS
1

2

3

4

5

Article – Creation; Purpose; Definitions ............................................................................................... 6
1.1

Creation of the California Fixed Income Trust ............................................................................. 6

1.2

Purpose.......................................................................................................................................... 6

1.3

Definitions..................................................................................................................................... 6

Article – Members and Participants ...................................................................................................... 9
2.1

Additional Members After Initial Execution ................................................................................ 9

2.2

Withdrawal or Termination of Member ...................................................................................... 10

2.3

Authorized Representatives; Responsibility of Authorized Representatives .............................. 10

2.4

Investments ................................................................................................................................. 10

2.5

Receipt of Statements and Reports; Requests ............................................................................. 10

Article – Powers .................................................................................................................................. 11
3.1

General Powers ........................................................................................................................... 11

3.2

Specific Powers ........................................................................................................................... 11

3.3

Miscellaneous Powers ................................................................................................................. 13

3.4

Further Powers ............................................................................................................................ 14

3.5

Intellectual Property .................................................................................................................... 14

3.6

Trademarks ................................................................................................................................. 14

3.7

Copyrights ................................................................................................................................... 15

Article – Trustees; Meetings; Officers ................................................................................................ 15
4.1

Establishment of the Board; Number and Qualification ............................................................. 15

4.2

Term of Office ............................................................................................................................ 15

4.3

Appointment of Trustees............................................................................................................. 16

4.4

Resignation of Trustees............................................................................................................... 16

4.5

Removal and Vacancies .............................................................................................................. 16

4.6

Meetings...................................................................................................................................... 16

4.7

Bylaws......................................................................................................................................... 16

4.8

Officers ....................................................................................................................................... 17

4.9

Accountability ............................................................................................................................. 17

4.10

Fiscal Year .................................................................................................................................. 17

Article – Administrator ....................................................................................................................... 17
5.1

Appointment; General Provisions ............................................................................................... 17

5.2

Successors ................................................................................................................................... 17

5.3

Duties of the Administrator......................................................................................................... 18

1

Joint Exercise of Powers Agreement

6

7

8

9

5.4

Administrator Activities and Powers .......................................................................................... 18

5.5

Monthly Statements .................................................................................................................... 18

5.6

Reports ........................................................................................................................................ 19

5.7

Daily Calculation of Program Value and Rate of Return ........................................................... 19

5.8

Administration of the California Fixed Income Trust................................................................. 19

Article – Investment Adviser .............................................................................................................. 20
6.1

Appointment and Qualifications ................................................................................................. 20

6.2

Successors ................................................................................................................................... 20

6.3

Duties of the Investment Adviser................................................................................................ 20

6.4

Pools............................................................................................................................................ 21

6.5

Retained Reserves ....................................................................................................................... 21

Article – The Custodian ...................................................................................................................... 21
7.1

Appointment and Qualifications ................................................................................................. 21

7.2

Successors ................................................................................................................................... 22

7.3

Prohibited Transactions............................................................................................................... 22

7.4

Appointment; Sub-Custodians .................................................................................................... 22

7.5

Powers ......................................................................................................................................... 22

7.6

Custodial Relationship; Custodian Records ................................................................................ 23

Article – Interests of Participants ........................................................................................................ 23
8.1

General ........................................................................................................................................ 23

8.2

Allocation of Shares .................................................................................................................... 23

8.3

Evidence of Share Allocation ..................................................................................................... 24

8.4

Redemption to Maintain Constant Net Asset Value for Constant Net Asset Value Pools ......... 24

8.5

Redemptions ............................................................................................................................... 24

8.6

Suspension of Redemption; Postponement of Payment.............................................................. 24

8.7

Defective Redemption Requests ................................................................................................. 25

Article – Record of Shares .................................................................................................................. 25
9.1

Share Records ............................................................................................................................. 25

9.2

Maintenance of Records.............................................................................................................. 25

9.3

Owner of Record ......................................................................................................................... 25

9.4

Transfer of Shares ....................................................................................................................... 26

9.5

Limitation of Responsibility ....................................................................................................... 26

9.6

Notices ........................................................................................................................................ 26

10

Article – Determination of Net Asset Value, Net Income, Distributions and Allocations ............. 26
10.1

Determination of Net Asset Value, Net Income, Distributions and Allocations ........................ 26

2

Joint Exercise of Powers Agreement
11

Article – CalFIT Investment Program Costs................................................................................... 26
11.1

12

Expenses ..................................................................................................................................... 26
Article – Representations and Warranties of Each Member ........................................................... 27

12.1
13

Representations and Warranties of Each Member ...................................................................... 27
Article – Limitations of Members, Participants, Trustees and Others ............................................ 27

13.1

No Personal Liability of Members, Participants, Trustees and Others ....................................... 27

13.2

Indemnification of Participants ................................................................................................... 28

13.3

Bad Faith of Trustees and Others ................................................................................................ 28

13.4

Indemnification of Trustees and Others from Third-Party Actions ............................................ 28

13.5

Indemnification of Trustees and Others for Successful Defense ................................................ 28

13.6

Advance Expenses ...................................................................................................................... 28

13.7

Exclusion and Limitations of Indemnification of Trustees and Others ...................................... 29

13.8

Obligations under Law ................................................................................................................ 29

13.9

Required Approval ...................................................................................................................... 29

13.10

Fiduciaries of Employee Benefit Plan..................................................................................... 29

13.11

No Duty of Investigation and Notice in CalFIT Instruments .................................................. 30

13.12

Reliance on Experts ................................................................................................................ 30

13.13

Immunity from Liability ......................................................................................................... 30

13.14

Further Restriction of Duties and Liabilities........................................................................... 30

14

Article – Amendment and Termination .......................................................................................... 30
14.1

Amendment ................................................................................................................................. 30

14.2

Termination ................................................................................................................................. 31

15

Article – Miscellaneous .................................................................................................................. 31
15.1

Governing Law ........................................................................................................................... 31

15.2

Severability ................................................................................................................................. 32

15.3

Counterparts ................................................................................................................................ 32

15.4

No Assignment............................................................................................................................ 32

15.5

Gender; Section Headings and Table of Contents ...................................................................... 32

15.6

No Partnership ............................................................................................................................ 32

15.7

Notice .......................................................................................................................................... 32

15.8

Confidentiality ............................................................................................................................ 33

15.9

Entire Agreement ........................................................................................................................ 33

15.10

Disputes................................................................................................................................... 33

15.11

Writings................................................................................................................................... 33

15.12

Effective Date ......................................................................................................................... 33

3

Joint Exercise of Powers Agreement
Exhibit A – Valuation Procedures .............................................................................................................. 35

4

Joint Exercise of Powers Agreement

Joint Exercise of Powers Agreement
California Fixed Income Trust (“CalFIT”)

by and among
the parties that have entered into this Joint Powers Agreement
This JOINT EXERCISE OF POWERS AGREEMENT will become effective when two or more
California public entities become signatories hereto. This Agreement (“Agreement”) is entered into by
each Public Agency (as defined below) that has executed this Agreement or that has or will execute
counterparts of this Agreement pursuant to Section 2.1 hereof (the “ Members”).

RECITALS
WHEREAS, each Public Agency has the authority to invest funds in its treasury in statutorily permitted
investments including but not limited to Section 53601 of the California Government Code, as amended;
and
WHEREAS, Section 6509.7 of the Act (as defined below) provides:
“Notwithstanding any other provision of law, two or more public agencies that have the authority
to invest funds in their treasuries may, by agreement, jointly exercise that common power. Funds
invested pursuant to an agreement entered into under this section may be invested in securities
and obligations as described by subdivision (p) of Section 53601. A joint powers authority formed
pursuant to this section may issue shares of beneficial interest to participating public agencies.
Each share shall represent an equal proportionate interest in the underlying pool of securities
owned by the joint powers authority. To be eligible under this section, the joint powers authority
issuing the shares of beneficial interest shall have retained an investment advisor…. A joint
powers authority formed pursuant to this section is authorized to establish the terms and
conditions pursuant to which agencies may participate and invest in pool shares….”; and
WHEREAS, the Act authorizes the Members to create a joint exercise of powers entity separate from the
Members to exercise the common powers of the Members, as specified in this Agreement, and to act as
administrator of this Agreement; and
WHEREAS, the purpose of this Agreement is to create and establish a separate joint exercise of powers
entity known as the California Fixed Income Trust (collectively referred to herein, as “CalFIT”) for the
purposes set forth herein to exercise the powers provided herein and to act as administrator of this
Agreement in order to consolidate investment activities of the Participants and thereby reduce duplication,
take advantage of economies of scale and perform governmental functions more efficiently; and
WHEREAS, the Act authorizes a joint exercise of powers entity, such as CalFIT, to issue shares of
beneficial interest in authorized investments to participating Public Agencies (collectively referred to
herein, as “Participants” and individually, as a “Participant”); and

5

Joint Exercise of Powers Agreement
WHEREAS, pursuant to the Applicable Law (as defined below), Public Agencies, such as the
Participants, may purchase shares of beneficial interest issued by a joint powers entity organized pursuant
to Section 6509.7 of the Act, such as CalFIT; and
WHEREAS, the Members desire to enter into this Agreement and this Agreement shall set forth the
terms for the investment program known as the “California Fixed Income Trust Investment Program,”
including the establishment of one or more pools where Participants invest in shares of beneficial interest
issued by the CalFIT in accounts containing authorized investments that are owned by CalFIT; and
WHEREAS, the joint exercise of such power to invest will be benefited and made more efficient because
all investments acquired pursuant to this Agreement will be owned by one entity, CalFIT and held by one
entity, the Custodian (as defined below); and
WHEREAS, the joint exercise of such power to invest will be benefited and made more efficient if the
advisory, record-keeping, and other administrative functions, including the management and transmittal
of investment instructions, are performed by one entity, the Administrator (as defined below); and
WHEREAS, the policy of this Agreement shall be to place the highest priority on the safety of principal
and liquidity of funds, and the optimization of investment returns shall be secondary to the requirements
for safety and liquidity; and
NOW, THEREFORE, in consideration of the premises and the representations, warranties, covenants,
and agreements contained herein, each party hereto agrees as follows:

1 ARTICLE – CREATION; PURPOSE; DEFINITIONS
1.1 CREATION OF THE CALIFORNIA FIXED INCOME TRUST

There is hereby created pursuant to the Act a public agency and entity to be known as the California
Fixed Income Trust (collectively referred to herein, as “CalFIT”. As provided in the Act, CalFIT shall be
a public agency and entity separate and apart from the Members and is responsible for the administration
of this Agreement. The debts, liabilities and obligations of CalFIT shall not constitute debts, liabilities or
obligations of the Members (and except as it relates to the retirement liabilities of CalFIT if it contracts
with a public retirement system within the meaning of Section 6508.1 of the Act). CalFIT shall not
contract with a public retirement system within the meaning of Section 6508.1 of the Act.

1.2 PURPOSE

This Agreement is made pursuant to the Act to provide for the exercise by CalFIT of those powers
referred to in the recitals hereof and for CalFIT to administer the exercise of those powers. The purpose of
CalFIT is to consolidate investment activities of the Participants and thereby reduce duplication, take
advantage of economies of scale and perform governmental functions more efficiently through CalFIT
Investment Program.

1.3 DEFINITIONS

In addition to the capitalized terms defined elsewhere in this Agreement, the following terms shall have
the following meanings.

6

Joint Exercise of Powers Agreement
“Account” or “Accounts” means any account (including subaccounts or other special accounts that may
be created to accommodate the desire of such Participant to segregate a portion of its Investment Funds)
opened and maintained pursuant to Section 7.5(a) hereof by the Custodian for the benefit of a Participant
and to which the Investment Property of such Participant is credited and opened.
“Act” means Title 1, Division 7, Chapter 5 of the California Government Code (commencing with
Section 6500), known as the Joint Exercise of Powers Act, as it may be amended from time to time.
“Administrator” means any Person or Persons appointed, employed, or contracted by CalFIT pursuant to
Article 5 hereof. The entity serving as Administrator to CalFIT may be the Investment Adviser or an
affiliate thereof.
“Affiliate” means, with respect to any Person, another Person directly or indirectly in control of,
controlled by, or under common control with such Person or any officer, director, partner, or employee of
such Person.
“Agreement” means this Agreement herein constituting a joint exercise of powers agreement among the
Members, as amended in accordance with its terms from time to time.
“Applicable Law” means Title 5, Division 2, Part 1, Chapter 4 of the California Government Code
(commencing with Section 53600), as it may be amended from time to time, and other applicable
provisions of California law.
“Authorized Representative” means the person authorized to invest the funds of a Participant pursuant
to California law who has been appointed in accordance with Section 2.3 hereof.
“Balance” for each Participant means an amount initially equal to zero that is adjusted pursuant to Article
2 hereof to reflect, among other things, cash investments by such Participant, cash payments to such
Participant, investment results, and expenses and fees incurred pursuant to this Agreement. The Balance
shall reflect the number of Shares in each applicable Pool designated by such Participant for investment.
“Board” means the board of the Trustees, created by this Agreement, as the governing board of CalFIT,
and established pursuant to Article 3 hereof.
“Business Day” means any day of the year other than (a) a Saturday or Sunday, (b) any day on which
banks located in the State of California are required or authorized by law to remain closed, or (c) any day
on which the New York Stock Exchange is closed.
"Bylaws" means those bylaws as described in Section 4.7 hereof.
“CalFIT” or “Trust” means the California Fixed Income Trust, a joint exercise of powers entity created
by this Agreement.
“CalFIT Investment Program” means the investment program provided to the Participants by CalFIT
whereby Participants invest in Shares including the establishment of one or more pools where Participants
invest in shares of beneficial interest issued by CalFIT in Accounts containing authorized investments that
are owned by CalFIT.
“Conflicting Provisions” shall have the meaning set forth in Section 15.2 hereof.
“Custodian” means any Person or Persons appointed, employed or contracted by CalFIT pursuant to
Section 7.1 hereof.

7

Joint Exercise of Powers Agreement
“Custody Agreement” means the agreement between CalFIT and the Custodian as described in Article 7
hereof.
“Effective Date” means the later of (1) the date that execution copies of this Agreement have been
executed by two or more Founding Members, and (2) the date this Agreement has been filed with the
Secretary of the State of California pursuant to Section 6503.5 of the Act.
“Founding Members” means the first four (or fewer) Public Agencies to execute this Agreement within
one year of the Effective Date as defined herein. By execution of this Agreement, each Founding
Member shall make the representations and warranties contained in Section 12.1 hereof.
“Information Statement” means one or more information statements or other disclosure documents
relating to CalFIT Investment Program or any Fund thereof as such Information Statements may be
amended from time to time by the Administrator and the Investment Adviser with the consent of CalFIT
as evidenced by resolution of the Board.
“Investment Adviser” means any Person or Persons appointed, employed, or contracted by CalFIT
pursuant to Section 6509.7 of the Act and Section 6.1 hereof. The entity serving as Investment Adviser to
CalFIT which may be the Administrator or an Affiliate thereof.
“Investment Adviser Agreement” means the agreement between the Investment Adviser and CalFIT
described in Section 6.1(a) hereof.
“Investment Funds” means immediately available funds delivered by each Participant to the Custodian
for investment in Shares pursuant to this Agreement but only if: (i) the Authorized Representative
appointed by such Participant is authorized pursuant to the laws of the State of California to invest such
funds and (ii) the Participant has taken all actions necessary pursuant to the laws of the State of California
or other applicable local law to authorize the delivery and investment of such funds.
“Investment Policy” means the investment policy established by CalFIT with respect to the Investment
Property in each Pool in accordance with this Agreement, as amended from time to time in accordance
with Section 3.2(a) hereof.
“Investment Procedures” means the procedures for Participants to make investments set forth in the
applicable Information Statement.
“Investment Property” means any and all securities and cash that are held in one of the Accounts and all
proceeds, income, profits, and gains therefrom that have not been paid to a Participant pursuant to Section
2.4 hereof, used to discharge an Investment Property Liability or offset by losses, if any, and expenses.
Investment Property shall not include securities purchased in anticipation of the delivery of funds by a
Participant when such funds are not actually received by the Custodian by the anticipated delivery date
and any such securities so purchased may be immediately sold and the proceeds used to pay any Person
that did in fact provide monies to purchase such securities.
“Investment Property Liability” or “Investment Property Liabilities” means any liability (whether
known, unknown, actual, contingent, or otherwise) incurred in connection with the Investment Property
pursuant to this Agreement.
“Investment Property Value” means the value of the Investment Property as determined pursuant to the
valuation procedures net of the amount of the Investment Property Liabilities.
“Meeting of the Board” means a duly called meeting of the Board.

8

Joint Exercise of Powers Agreement
“Members” means the Founding Members and each Public Agency that becomes a Member pursuant to
the terms of Section 2.1.
“Participants” means any Public Agencies that have the authority to purchase Shares from CalFIT.
Members may also be “Participants.”
“Payment Procedures” means the procedures for Participants to request payments out of the Investment
Property set forth in the applicable Information Statement.
“Permitted Investments” means those investments defined as such in the applicable Investment Policy
for a Pool as established by CalFIT.
“Person” means any individual, corporation, limited liability company, firm, association, partnership,
joint venture, trust or other legal entity or group of entities, including any Public Agency or department,
board, commission, instrumentality, or agency thereof.
“Pool” means any of the pool established by the Investment Adviser pursuant to Section 6.4 hereof.
“Public Agency” shall be defined as it is in Section 6500 of the Act, to include “any state department or
agency, a county, county board of education, county superintendent of schools, city, public corporation,
public district, regional transportation commission of this state” and Section 6509.7(b) of the Act, to
include “a nonprofit corporation whose membership is confined to public agencies or public officials.”
“Ralph M. Brown Act” means Title 5, Division 2, Part 1, Chapter 9 of the California Government Code,
as it may be amended from time to time.
“Shares” means the unit used to denominate and measure the respective pro rata beneficial interests of
the Participants in a Fund. As required by Section 6509.7 of the Act, each Share shall represent an equal
proportionate interest in the Investment Property within a Pool.
“Stable NAV Pool" shall have the meaning given such term in Section 6.4 hereof.

“Trustee” means each of the persons selected pursuant to Article III and Article IV hereof to
serve on the Board.
“Valuation Procedures” means the procedures for determining the value of the Investment Property set
forth in Exhibit A attached hereto, as the same may be amended from time to time by the Administrator
and the Investment Adviser, with the consent of the CalFIT as evidenced by resolution of the Board.

2 ARTICLE – MEMBERS AND PARTICIPANTS
2.1 ADDITIONAL MEMBERS AFTER INITIAL EXECUTION

Any Public Agency that wishes to become a Member after the Effective Date may apply for Member
status by executing a counterpart to this Agreement and delivering the counterpart to the Administrator,
together with evidence of such Member’s authorization to execute this Agreement. Applications for
Member status shall be subject to a 2/3 majority approval by the Board.

9

Joint Exercise of Powers Agreement

2.2 WITHDRAWAL OR TERMINATION OF MEMBER

Any Member may withdraw from this Agreement at any time upon written notice to the Administrator
provided, however, that no Member may withdraw if, following such withdrawal, there will not be at least
two Members remaining as a party to this Agreement. A withdrawal shall be noted to the Board in the
Administrator's next report to the Board. Any such withdrawal shall be effective only upon receipt of the
written notice of withdrawal by the Administrator who shall acknowledge receipt of such notice of
withdrawal in writing to such withdrawing Member and shall file such notice as an amendment to this
Agreement effective upon such filing.
Nothing in this Section 2.2 shall be construed to limit the Members’ and CalFIT’s rights to amend or
terminate this Agreement pursuant to Article 14 of this Agreement.

2.3 AUTHORIZED REPRESENTATIVES; RESPONSIBILITY OF AUTHORIZED
REPRESENTATIVES

a) Each Participant shall select an Authorized Representative to represent its interests and act on its
behalf under this Agreement.
b) Each Participant shall be responsible for the actions or inactions of its Authorized Representative
under this Agreement, and the Administrator and Custodian are authorized to rely on the
directions of the Authorized Representative without further investigation or diligence.

2.4 INVESTMENTS

a) Each Participant shall have the right from time to time to invest Investment Funds for credit to
such Participant’s Balance in the CalFIT Investment Program. A Participant that wishes to make
such an investment shall notify the Administrator and follow the Investment Procedures. All
Investment Funds will be invested in an applicable Pool as designated by the Participant.
Investment Funds so designated shall be invested pursuant to the Investment Policy established
by CalFIT for such Pool. Upon such investment in accordance with the Investment Procedures,
the Participant shall have Shares representing an equal proportionate interest in such Investment
Property within such Pool.
b) The Balance of a Participant shall be increased upon the investment of Investment Funds by such
Participant by an amount equal to the amount of such Investment Funds. The Balance shall reflect
the number of Shares in each applicable Pool designated by such Participant for investment.
c) No later than the end of each Business Day, the Custodian shall deliver a confirmation with
respect to the transaction activity for the Accounts for the prior Business Day to the
Administrator. The Administrator shall retain the confirmation in its records.
d) Any funds that the Administrator is informed do not meet the conditions set forth in clauses (i) or
(ii) of the definition of Investment Funds shall be returned to the Participant investing such funds
by the Custodian at the request of the Administrator and such Participant shall bear all of the
costs and liabilities associated with the return of such funds.

2.5 RECEIPT OF STATEMENTS AND REPORTS; REQUESTS

a) The Administrator shall provide, or make available to each Participant, a copy of the statements
prepared pursuant to Section 5.5 hereof and of the reports prepared pursuant to Section 5.6 hereof
applicable to such Participant.

10

Joint Exercise of Powers Agreement
b) In addition, each Participant, through its Authorized Representative, may direct the Administrator
to provide, or make available, a statement of the value of the Participant’s Balance as of the date
of the request. The Administrator shall provide such statement, subject only to account activity as
of such date.
c) On behalf of each Participant, the Administrator shall maintain or cause to be maintained, the
records relating to such Participant in a manner that records (i) the portion of the Participant’s
Balance designated in the applicable Pool and (ii) the Participant’s Balance in one or more
Accounts. The Administrator shall maintain a separate record for each Participant and shall
record the individual transactions involving each such Participant and the total value by Account
of all investments belonging to each such Participant.

3 ARTICLE – POWERS
3.1 GENERAL POWERS

a) CalFIT shall have the power, in its own name, to exercise the common powers of the Members
referred to in the recitals hereof and to exercise all additional powers given to a joint powers
entity under the Act and any other applicable law for any purpose authorized under this
Agreement. Pursuant to Section 6508 of the Act, CalFIT shall have the power, in its own name, to
do any or all of the following: to make and enter into contracts, or to employ agents and
employees, to acquire, construct, manage, maintain or operate any building, works or
improvements, or to acquire, hold or dispose of property or to incur debts, liabilities or
obligations and sue and be sued in its own name. Pursuant to Section 6509.7 of the Act, CalFIT
shall have the power, in its own name, to issue shares of beneficial interest in the securities and
obligations authorized by the Applicable Law. CalFIT is authorized, in its own name, to do all
acts necessary for the exercise of said powers for said purposes. Such powers shall be exercised
subject only to such restrictions upon the manner of exercising such powers as are imposed upon
the County of Alameda in the exercise of similar powers, as provided in Sections 6503 and 6509
of the Act; and in the alternative, should the County of Alameda cease to be a member, the
County of Lake, or in the alternative if both should cease to be members, the County of San
Diego, or in the alternative, if all three should cease to be members, such other member as
designated by the Board in the Bylaws.
b) All powers of the Administrator or Custodian that are described in this Agreement shall also be
powers of CalFIT. The Board of Trustees may perform such acts as it determines in its sole
discretion as proper for conducting the business of CalFIT. The enumeration of any specific
powers shall not be construed as limiting the powers of the Board. Such powers may be exercised
with or without the posting of a bond, an order, or other action by any court. In construing the
provisions of this Agreement, the presumption shall be in favor of a grant of power to the Board,
subject to the powers given to a joint powers entity under the Act and any other applicable law for
any purpose authorized under this Agreement.

3.2 SPECIFIC POWERS

Consistent with, derived from and subject to the general powers of CalFIT granted in Section 3.1 hereof,
the Board of Trustees possesses the following specific powers:

11

Joint Exercise of Powers Agreement
a) Investments. CalFIT shall have the power to subscribe for, invest in, reinvest in, purchase or
otherwise acquire, own, hold, pledge for settlement purposes only, sell, assign, transfer,
exchange, distribute, lend or otherwise deal in or dispose of Permitted Investments, provided such
investment is, in the sole and absolute discretion of the CalFIT, consistent with the Applicable
Law and the Investment Policy. An Investment Policy for each Pool shall be established by
resolution of the Board and may be revised from time to time by resolution of the Board,
provided, however, that no Investment Policy shall permit investments not authorized for legal
investment under the Applicable Law. Upon the Board’s approval of any amendment to an
Investment Policy, the amended Investment Policy will be posted to the website of CalFIT.
b) Issuance and Redemption of Shares. CalFIT shall have the power to issue, sell, repurchase,
redeem, retire, cancel, acquire, hold, resell, reissue, dispose of, transfer, and otherwise deal in
Shares, or any Pool of Shares by means of the CalFIT Investment Program, and subject to the
provisions hereof, to apply to any such repurchase, redemption, retirement, cancellation or
acquisition of Shares, or any Pool of Shares, any funds or Investment Property with respect to
such Shares, or Pool of Shares, whether capital or surplus or otherwise, to the full extent now or
hereafter permitted by the Applicable Law.
c) Title to Investments. Legal title to all Investment Property shall be vested in CalFIT except that
CalFIT shall have power to cause legal title to any Investment Property to be held in the name of
any other person as nominee, on such terms as CalFIT may determine provided, however, that the
interest of CalFIT therein is appropriately protected.
d) Rights as Holders of Investment Property. CalFIT shall have full and complete power to
exercise all of the rights, powers, and privileges appertaining to the ownership of the Investment
Property to the same extent that any individual might and, without limiting the generality of the
foregoing, to vote or give any consent, request, or notice, or waive any notice either in person or
by proxy or power of attorney, with or without the power of substitution, to one or more persons,
which proxies and powers of attorney may be for meeting or actions generally, or for any
particular meeting or action, and may include the exercise of discretionary powers.
e) Creation of Pools. CalFIT may authorize the creation of one or more different Pools provided,
however, that each such Pool shall conform in all respects to the requirements of this Agreement.
f) Branding. CalFIT may authorize the use of the name “CalFIT” and its associated trademark(s),
consistent with, derived from and subject to, Section 3.6 hereof, in conjunction with other
products, portfolios, pools, and services that provide investment, financial, or other cash
management services to Participants and for purposes of this Agreement, such name shall include
any Pools established pursuant to this Agreement. The Administrator may identify a name for any
additional Pools established pursuant to this Agreement, subject to approval by CalFIT.
g) Power to Contract, Appoint, Retain and Employ. CalFIT shall have full and complete power
to, and shall at all times, appoint, employ, retain, or contract with any person of suitable
qualifications (including any corporation, partnership, trust, or other entity of which one or more
of them may be an Affiliate) for the transaction of the affairs of CalFIT.
h) Payment of Expenses. CalFIT shall have full and complete power:
i.
to incur and pay any charges or expenses that are necessary or incidental to or proper for
carrying out any of the purposes of this Agreement;
ii.
to pay any taxes or assessments validly and lawfully imposed upon or against the
Investment Property or in connection with the Investment Property or upon or against the
Investment Property or income or any part thereof;
iii.
to reimburse others for payment of such expenses and taxes; and

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Joint Exercise of Powers Agreement
iv.

to pay appropriate compensation or fees from the Investment Property to a person with
whom CalFIT has contracted or transacted business.

All payments or expenses incurred pursuant to this Section will be a liability payable solely from
Investment Property. The Trustees shall not be paid compensation for their services as Trustees
hereunder, except that they shall be allowed reimbursement for reasonable expenses incurred in
the performance of their duties as Trustees.
i)

Litigation. CalFIT shall have the power to engage in and to prosecute, defend, compromise,
abandon, or adjust, by arbitration or otherwise, any actions, suits, proceedings, disputes, claims,
and demands relating to CalFIT or property of CalFIT, and, out of property of CalFIT, to pay or
to satisfy any debts, claims or expenses incurred in connection therewith, including those of
litigation, and such power shall include without limitation the power of CalFIT, in the exercise of
its good faith business judgment, consenting to dismiss any action, suit, proceeding, dispute,
claim, or demand, derivative or otherwise, brought by any person, including a Member or
Participant, whether or not CalFIT or any of the Trustees may be named individually therein or
the subject matter arises by reason of business for or on behalf of CalFIT.

3.3 MISCELLANEOUS POWERS

Consistent with, derived from and subject to the general powers of CalFIT granted in Section 3.1 hereof,
CalFIT also possesses the following miscellaneous powers:
a) Insurance. CalFIT shall have full and complete power to purchase or to cause to be purchased
and pay for, entirely out of Investment Property, insurance policies insuring CalFIT, and/or
officers, employees, and agents individually against all claims and liabilities of every nature
arising by reason of holding or having held any such office or position or by reason of any action
alleged to have been taken or omitted by CalFIT or any such officer, employee, and agent
including any action taken or omitted that may be determined to constitute negligence, whether or
not CalFIT would have the power to indemnify such person against such liability.
b) Borrowing and Indebtedness. CalFIT shall not borrow money or incur indebtedness, whether or
not the proceeds thereof are intended to be used to purchase Permitted Investments or Investment
Property, except as a temporary measure to facilitate the transfer of funds to the Participant that
might otherwise require unscheduled dispositions of portfolio investments and except as an
advance made by the Custodian under the Custody Agreement, but only to the extent permitted
by law. No such indebtedness shall have a maturity later than that necessary to avoid the
unscheduled disposition of portfolio investments.
c) Remedies. Notwithstanding any provision in this Agreement, when CalFIT deems that there is a
significant risk that an obligor to CalFIT may default or is in default under the terms of any
obligation of CalFIT, CalFIT shall have full and complete power to pursue any remedies
permitted by law that, in its sole judgment, are in the interests of CalFIT, and shall have full and
complete power to enter into any investment, commitment, or obligation resulting from the
pursuit of such remedies as are necessary or desirable to dispose of property acquired in the
pursuit of such remedies.
d) Information Statement. CalFIT shall have full and complete power to prepare, publish, and
distribute one or more Information Statements regarding the CalFIT Investment Program or any
Pool thereof and to amend or supplement the same from time to time.

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e) Contracting with Affiliates. To the extent permitted by law, CalFIT may enter into transactions
with any Affiliate of the Administrator, Investment Adviser or the Custodian if:
i.
each such transaction (or type of transaction) has, after disclosure of such affiliation, been
approved or ratified by the affirmative vote of a majority of the Board, and
ii.
such transaction (or type of transactions) is, in the opinion of CalFIT, on terms fair and
reasonable to CalFIT and the Participants and at least as favorable to them as similar
arrangements for comparable transactions with organizations unaffiliated with the person
who is a party to the transaction.

3.4 FURTHER POWERS

Consistent with, derived from and subject to the general powers of the CalFIT granted in Section 3.1
hereof, CalFIT shall have full and complete power to take all such actions, do all such matters and things,
and execute all such instruments as it deems necessary, proper, or desirable in order to carry out, promote,
or advance the interests and purposes of CalFIT although such actions, matters, or things are not herein
specifically mentioned. Any determination as to what is in the best interest of CalFIT made by the Board
in good faith shall be conclusive.

3.5 INTELLECTUAL PROPERTY

The parties acknowledge that pursuant to this Agreement and/or the business activities of CalFIT, various
types of intellectual property (the “Intellectual Property”) may be created or used by the parties, including
but not limited to trademarks and copyrights. With regard to any and all Intellectual Property created by
or for CalFIT or by or for the CalFIT Investment Program in relation to this Agreement, CalFIT shall own
all right, title, and interest to such Intellectual Property. Except as expressly set forth in this Agreement,
CalFIT shall have no obligation to account to the other parties to this Agreement for any revenues arising
from the use, license, or assignment of any Intellectual Property.

3.6 TRADEMARKS

The parties acknowledge CalFIT’s ownership and exclusive rights in all trademarks currently owned by
CalFIT, including but not limited to Application for the CalFIT mark, and all trade names and trademarks
that may be used and developed in connection with this Agreement, or through the parties’ business
activities (the “Trademarks”). The parties shall not, at any time during or after the term of the
Agreement, directly or indirectly, oppose, challenge or contest CalFIT’s exclusive right and title to the
Trademarks or the validity thereof.
The parties agree that all use of the Trademarks inures to the benefit of CalFIT and that the parties shall
not acquire any rights in the Trademarks or other marks or logos likely to be confused therewith. CalFIT
has the sole and exclusive right to file applications to register and to register any and all Trademarks in
the U.S. and in any country throughout the world, and the parties agree not to directly or indirectly,
oppose, challenge or contest such applications or registrations. The parties will not, directly or indirectly,
file applications to register or register, or acquire by transfer, any trade name or trademark which, in
whole or in part, incorporates or is confusingly similar to the Trademarks in the U.S. or any country
throughout the world unless such parties have express written permission to do so.

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3.7 COPYRIGHTS

The parties agree that all works created in connection with this Agreement or through the parties’
business activities with CalFIT (the “Works”) are owned by CalFIT. To the extent any Works are
deemed not owned by CalFIT, the parties hereby expressly assign to CalFIT all right, title and interest
whatsoever, throughout the world, in perpetuity, in and to the copyrights and any and all registrations,
applications to register, renewals and extensions thereof, for the Works, including, without limitation, the
right to sue for and collect damages for infringement of the Works or other violations of the same,
including for past infringements or other violations.
The parties hereby further agree to promptly execute any and all instruments and to promptly render any
and all such assistance as CalFIT may request to confirm in CalFIT full legal title to the Works and/or to
pursue claims that third parties have infringed CalFIT’s intellectual property rights in and to the Works.
In the event the parties are not available upon ten (10) calendar days’ written request to execute such
instruments, the parties hereby appoint CalFIT its attorney-in-fact to execute such instruments on the
parties’ behalf.

4 ARTICLE – TRUSTEES; MEETINGS; OFFICERS
4.1 ESTABLISHMENT OF THE BOARD; NUMBER AND QUALIFICATION

a) The management of CalFIT shall be governed by the Board.
i.
The Board shall have five (5) initial seats for Trustees. Up to four (4) of the Trustees
shall be designated by each of the Founding Member’s Treasurer or person with
delegated investment authority upon the execution of this Agreement. The fifth seat and
any of the four not filled by a Founding Member shall be filled in accordance with the
Bylaws.
ii.
A seat shall be added to the Board for each Public Agency that is added as a Member
pursuant to Section 2.1 and is not a Founding Member. The Member’s Treasurer or other
person with delegated investment authority shall designate their Trustee upon their
acceptance as a Member pursuant to Section 2.1.
b) Members shall each have a permanent seat of the Board, while remaining Members. Those
Members’ Treasurers or person with delegated investment authority shall each appoint one Board
member (and alternate) who shall serve at the pleasure of the Member, with any replacement
appointed by the Member’s Treasurer or person with delegated investment authority.
c) The Board may create additional seats on the Board according to the Bylaws, as currently existing
or as hereinafter amended, including seats by direct appointment or by elections, to serve for
terms as determined by such Bylaws, with mid-term vacancies to be filled by appointment of the
Board.

4.2 TERM OF OFFICE

a) Member Trustees shall serve at the pleasure of the Member making the individual appointments.
b) Trustees appointed by a majority vote of the Board shall serve a term determined by the Board,
normally a term of one (1) year.
c) Any appointment to fill an unexpired term, however, shall be for such the remainder of the
unexpired term.

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4.3 APPOINTMENT OF TRUSTEES

Trustees may be appointed or reappointed by the Board, or Members’ Treasurers or person with delegated
investment authority, if applicable, as provided in Section 4.1, including an appointment to fill an
unexpired term in the event of a vacancy.

4.4 RESIGNATION OF TRUSTEES

Any Trustee may resign without need for prior or subsequent accounting by notice in writing signed by
the Trustee and delivered to the Secretary of the Board, and such resignation shall be effective upon such
delivery or at a later date specified in the written notice. Any vacancy created by such resignation shall be
filled in accordance with Section 4.3 hereof.

4.5 REMOVAL AND VACANCIES

a) The term of office of a Trustee shall terminate and a vacancy shall occur in the event the
individual serving as the Trustee is no longer staff at their respective Public Agency, in the event
the Trustee’s Public Agency is no longer a Member, or in the event the individual serving as the
Trustee is no longer an elected or appointed member of the governing body, or staff of, a
Member.
b) The term of office of a Trustee shall terminate and a vacancy shall occur on the happening of any
of the events in California Government Code Section 1770.
c) Each Trustee appointed by the Board may be removed and replaced by the Public Agency by
which such Trustee was affiliated.
d) Any vacancy created pursuant to this Section 4.5 shall be filled in accordance with Section 4.3
hereof.

4.6 MEETINGS

a) The Annual Meeting of the Board shall be the last meeting of the calendar year and shall be for
the purpose of the appointment of Trustees, election of officers, setting the calendar for regular
meetings, and other organizational matters as provided in the Bylaws. The Board shall meet not
less than semiannually.
b) Regular meetings of the Board shall be established in the method described in the Bylaws and
may be held at the time and place so established.
c) Special meetings of the Board may be held from time to time in the manner described in the
Bylaws.
d) All meetings of the Board are subject to and must comply with the provisions of the Ralph M.
Brown Act.
e) A majority of the Trustees shall constitute a quorum for the transaction of business, except that
less than a quorum may adjourn meetings from time to time. Any action of the Board requires the
affirmative vote of a majority of the total number of authorized Trustees.

4.7 BYLAWS

The Board shall adopt and may, from time to time, amend or repeal Bylaws for the conduct of the
business of the Board consistent with this Agreement. The Bylaws may define the duties of the respective
officers, agents, employees, and representatives of the Board and shall establish the rules of calling of
meetings and determination of regular and special meetings.

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4.8 OFFICERS

The Board shall annually elect a President and other officers having the responsibilities and powers
described in the Bylaws and as required by the Act. The Bylaws shall designate the Treasurer of CalFIT
as required by Section 6505.5 or Section 6505.6 of the Act and the public office or officers or person or
persons who have charge of, handles, or have access to any property of CalFIT as required by Section
6501.1 of the Act, and such public officer or officers or person or persons shall file an official bond in the
amount of $25,000; provided, that such bond shall not be required if CalFIT does not possess or own
property or funds with an aggregate value of greater than $500 (excluding amounts held by any custodian
or depository in connection with the CalFIT Investment Program). The Bylaws shall provide for
designation of the public office or officers or person who conducts public meetings in accordance with the
Brown Act and other applicable laws, and performs other administrative acts including responses to
requests under the California Public Records Act. The Bylaws shall provide for designation of counsel of
record for CalFIT.

4.9 ACCOUNTABILITY

Pursuant to Section 6505 of the Act, CalFIT shall establish and maintain such funds and accounts as may
be required by good accounting practice, and there shall be strict accountability of all funds and reports of
all receipts and disbursements.

4.10 FISCAL YEAR

The fiscal year of CalFIT shall end each June 30. CalFIT may from time to time change the fiscal year of
CalFIT by resolution of the Board.

5 ARTICLE – ADMINISTRATOR
5.1 APPOINTMENT; GENERAL PROVISIONS

a) CalFIT may appoint one or more persons to serve as the Administrator for the CalFIT Investment
Program. It is specifically intended that any and all provisions related to the Administrator set
forth herein be memorialized in a contract between CalFIT and the Administrator (the
“Administrator Agreement”) and that this Agreement shall not be construed to create any thirdparty beneficiary rights in any party fulfilling the role of Administrator. In the event of conflict
between the provisions of this Agreement and the provisions of the Administrator Agreement,
this Agreement shall control.
b) As provided in Section 5.3 hereof, the Administrator shall at no time have custody of or physical
control over any of the Investment Property.
c) The Administrator may also serve as Investment Adviser to the CalFIT Investment Program and
in such case, the Administrator Agreement may also serve as the Investment Adviser Agreement.

5.2 SUCCESSORS

In the event that, at any time, the position of Administrator shall become vacant for any reason, CalFIT
may appoint, employ, or contract with a successor.

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5.3 DUTIES OF THE ADMINISTRATOR

a) The duties of the Administrator shall be those set forth in this Article 5 and the Administrator
Agreement. This Article 5 outlines some but not all of such duties. Such duties may be modified
by CalFIT from time to time. The role of the Administrator is intended to effect purchases, sales,
or exchanges of Investment Property on behalf of CalFIT. The Administrator Agreement may
authorize the Administrator to employ other persons to assist in the performance of the duties set
forth therein.
b) The Administrator shall at no time have custody of or physical control over any of the Investment
Property. If a Participant in error delivers Investment Funds for investment to the Administrator
instead of to the Custodian, the Administrator shall immediately transfer such Investment Funds
to the Custodian. The Administrator shall not be liable for any act or omission of the Custodian
but shall be liable for the Administrator's acts and omissions as provided herein.
c) The Administrator understands that the monies delivered to the Custodian may only be invested
pursuant to the investment parameters contained in the applicable Investment Policy.

5.4 ADMINISTRATOR ACTIVITIES AND POWERS
The Administrator shall perform the following services:

a) advise CalFIT on any material changes in investment strategies based upon current market
conditions;
b) enter into securities transactions with respect to the Investment Property (to the extent permitted
by the applicable Investment Policy and applicable laws) by entering into agreements and
executing other documents relating to such transactions containing provisions common for such
agreements and documents in the securities industry;
c) from time to time, review the Permitted Investments and the applicable Investment Policy and, if
circumstances and applicable laws permit, recommend changes in such Permitted Investments
and such Investment Policy;
d) provide such advice and information to CalFIT on matters related to investments as CalFIT may
reasonably request including, without limitation, research and statistical data concerning the
Investment Property, whether and in what manner all rights conferred by the Investment Property
may be exercised, and other matters within the scope of the investment criteria set forth in the
applicable Investment Policy;
e) prepare such information and material as may be required in the implementation of the Valuation
Procedures or the computation of the Balances and the preparation of any and all records and
reports required by this Agreement or applicable laws;
f) issue instructions to the Custodian as provided in this Agreement; and
g) employ, consult with, obtain advice from, and exercise any of the Administrator’s rights or
powers under this Agreement through the use of suitable agents including auditors, legal counsel
(who may be counsel to the Administrator or CalFIT), investment advisers, brokers, dealers,
and/or other advisers. Notwithstanding Section 15.8 hereof, the Administrator may transmit
information concerning the Investment Property and the Participants to such agents.

5.5 MONTHLY STATEMENTS

a) Within fifteen (15) days after the end of each month-end, the Administrator shall prepare and
submit, or make available, to each Participant who was a Participant during such month a

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statement disclosing any activity and a closing balance, including the number of Shares, in each
of its Accounts for such month.
b) The Administrator, upon the request of a Participant, shall furnish to the Participant a statement
of such Participant's Balance as of the date of such request, subject only to account activity on
such date.

5.6 REPORTS

The Administrator shall prepare or cause to be prepared at least annually (i) a report of operations
containing a statement of the Investment Property and the Investment Property Liabilities and statements
of operations and of net changes in net assets prepared in conformity with generally accepted accounting
principles consistently applied and (ii) an opinion of an independent certified public accountant on such
financial statements based on an examination of the books and records of the Participants’ Accounts,
maintained by the Administrator with respect to the Investment Property, performed in accordance with
generally accepted auditing standards. An annual audit of the accounts and records of CalFIT shall be
made, and the report thereon filed and kept, in accordance with the provisions of Section 6505 of the Act.

5.7 DAILY CALCULATION OF PROGRAM VALUE AND RATE OF RETURN

The Administrator shall calculate the Investment Property Value for each Account once on each Business
Day at the time and in the manner provided in the Investment Program’s Information Statement for such
Pool as well as the Valuation Procedures.

5.8 ADMINISTRATION OF THE CALIFORNIA FIXED INCOME TRUST

The Administrator shall perform the following administrative functions on behalf of CalFIT in connection
with the implementation of this Agreement:
a) collect and maintain for such period as may be required under any applicable Federal or
California law written records of all transactions affecting the Investment Property or the
Balances, including but not limited to (i) investments by and payments to or on behalf of each
Participant; (ii) acquisitions and dispositions of Investment Property; (iii) pledges and releases of
collateral securing the Investment Property; (iv) determinations of the Investment Property Value;
(v) adjustments to the Participants’ Balances; and (vi) the current Balance and the Balances at the
end of each month for each Participant. There shall be a rebuttable presumption that any such
records are complete and accurate. The Administrator shall maintain the records relating to each
Participant in a manner that subdivides the Participant’s balance into Accounts;
b) assist in the organization of meetings of the Board including preparation and distribution of the
notices and agendas therefore;
c) respond to all inquiries and other communications of Participants, if any, that are directed to the
Administrator or, if any such inquiry or communication is more properly addressed by the
Custodian, referring such inquiry or communication to the Custodian and coordinating the
Custodian’s response thereto;
d) pay all Investment Property Liabilities in accordance with this Agreement from any income,
profits, and gains from the Investment Property (but not from the principal amount thereof); and
e) engage in marketing activities to encourage eligible California public sector entities to become
Participants.

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6 ARTICLE – INVESTMENT ADVISER
6.1 APPOINTMENT AND QUALIFICATIONS

a) CalFIT may appoint one or more persons that meet the qualifications described in Section 6.1(b)
hereof to serve as the Investment Adviser of CalFIT. It is specifically intended that any and all
provisions related to the Investment Adviser set forth herein be memorialized in a contract
between CalFIT and the Investment Adviser (the “Investment Adviser Agreement”) and that
this Agreement shall not be construed to create any third-party beneficiary rights in any party
fulfilling the role of Investment Adviser. In the event of conflict between the provisions of this
Agreement and the provisions of the Investment Adviser Agreement, this Agreement shall
control.
b) The Investment Adviser shall meet the requirements of Section 6509.7 of the Act and Section
53601(p) of the California Government Code, as such sections may be amended from time to
time, which, as of the Effective Date, require that:
i.
the investment adviser is registered or exempt from registration with the Securities and
Exchange Commission;
ii.
the investment adviser has not less than five (5) years of experience investing in the
securities and obligations authorized by subdivisions (a) to (o), inclusive, of Section
53601 of the California Government Code; and
iii.
the investment adviser has assets under management in excess of five hundred million
dollars ($500,000,000).

6.2 SUCCESSORS

In the event that, at any time, the position of Investment Adviser shall become vacant for any reason,
CalFIT shall appoint, employ, or contract with a successor that meets the qualifications described in
Section 6.1(b) hereof.

6.3 DUTIES OF THE INVESTMENT ADVISER

The duties of the Investment Adviser shall be those set forth in the Investment Adviser Agreement. Such
duties may be modified by CalFIT from time to time. CalFIT may authorize the Investment Adviser in the
Investment Adviser Agreement to effect purchases, sales, or exchanges of Investment Property on behalf
of CalFIT or may authorize any officer, employee, agent, or member of CalFIT to effect such purchases,
sales, or exchanges pursuant to recommendations of the Investment Adviser, all without further action by
CalFIT. Any and all of such purchases, sales, and exchanges shall be deemed to be authorized by CalFIT.
The Investment Adviser Agreement may authorize the Investment Adviser to employ other persons to
assist in the performance of the duties set forth in the agreement. The Investment Adviser Agreement
shall also provide that it may be terminated without cause and without the payment of any penalty on
forty-five (45) days written notice.
The Investment Adviser shall serve as a fiduciary to CalFIT and act in the best interests of CalFIT in the
performance of services, in satisfaction of the duties of loyalty and care.

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6.4 POOLS

The Investment Adviser shall cause the Custodian to establish a single initial pool (the “Stable NAV
Portfolio”) for the investment of surplus funds of the Participants. The Stable NAV Portfolio shall have a
constant net asset value and be invested in Permitted Investments pursuant to the criteria and policies
contained in the Investment Policy for the Stable NAV Portfolio. Notwithstanding anything in this
Agreement to the contrary, the Investment Adviser may, upon the direction of CalFIT, cause the
Custodian to establish specially designated funds, in addition to the Stable NAV Portfolio, with specified
investment characteristics so long as the fund adheres to the Permitted Investments. Such characteristics
may include, without limitation, certain restrictions on amounts to be invested, holding periods prior to
payments, or certain other conditions to be met for payments, such as possible payment penalties, special
investment criteria, investment management tailored to a particular Participant, or additional fees for
administering such specially designated Pools. The Investment Adviser may cause the Custodian to
establish such Pools with the consent of CalFIT as evidenced by resolution of the Board and approval by
the Board of the related Investment Policy for such Pool. The establishment of such Pools shall not be
deemed an amendment of this Agreement. A Participant may direct the Investment Adviser to invest its
surplus funds in any of the established Pool. The Investment Adviser shall cause each such Pool to
maintain accounts and reports separate from any other Pool. All provisions of this Agreement shall apply
to any such Pool.

6.5 RETAINED RESERVES

The Investment Adviser may retain from earnings and profits such amounts as it may deem necessary to
pay the debts and expenses of CalFIT and to meet other obligations of CalFIT, and the Investment
Adviser shall also have the power to establish from earnings and profits such reasonable reserves as they
believe may be necessary or desirable. At least quarterly, the Investment Adviser shall provide a detailed
accounting to the Board of any debts, expenses, and obligations deemed necessary for CalFIT Investment
Program, and at the same time shall provide a detailed accounting to the Board of reserves deemed
necessary or desirable by the Investment Adviser. Realized capital gains or losses shall be distributed in a
timely and equitable manner as determined by the Investment Adviser.

7 ARTICLE – THE CUSTODIAN
7.1 APPOINTMENT AND QUALIFICATIONS

CalFIT shall appoint and employ a bank or trust company organized under the laws of the United States
of America to serve as custodian (“Custodian”) for the CalFIT Investment Program subject to the
requirements of the Applicable Law. The Custodian shall follow directions relating to the investment of
all Investment Property in accordance with the instructions of the Administrator. The Custodian shall
have authority to act as CalFIT’s directed custodian, subject to such restrictions, limitations, and other
requirements, if any, as may be established by CalFIT. It is specifically intended that all provisions
related to the Custodian set forth herein be memorialized in a contract to be entered into between CalFIT
and the Custodian (the “Custody Agreement”) and that this Agreement shall not be construed to create
any third-party beneficiary rights under this Agreement in any party fulfilling the role of the Custodian.
As such, the terms of this Agreement are not binding on the Custodian and the Custodian’s rights, duties
and obligations are solely as defined in the Custody Agreement.

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7.2 SUCCESSORS

If, at any time, the Custodian shall resign or shall be terminated pursuant to the provisions of the Custody
Agreement, CalFIT shall appoint a successor thereto.

7.3 PROHIBITED TRANSACTIONS

With respect to transactions involving Investment Property, the Custodian shall act strictly as directed
custodian for CalFIT. CalFIT shall not purchase Permitted Investments from the Custodian or sell
Permitted Investments to the Custodian.

7.4 APPOINTMENT; SUB-CUSTODIANS

a) The Custodian may employ sub-custodians, including, without limitation, Affiliates of the
Custodian for any obligations set forth in the Custody Agreement. The appointment of a subcustodian under this Section shall not relieve the Custodian of any of its obligations set forth in
the Custody Agreement. The Custodian shall use its best efforts to ensure that the interests of
CalFIT in the Investment Property is clearly indicated on the records of any sub-custodian and the
Custodian shall use its best efforts to ensure that the interests of CalFIT in the Investment
Property is not diminished or adversely affected because of the Custodian’s use of a subcustodian.
b) No Investment Funds or Investment Property, other than cash, received or held by the Custodian
pursuant to the Custody Agreement shall be accounted for in any manner that might cause such
Investment Funds or Investment Property to become assets or liabilities of the Custodian.

7.5 POWERS

The Custodian shall perform the following services:
a) open and maintain such custody accounts as CalFIT directs through the Administrator and accept
for safekeeping and for credit to the applicable Account, in accordance with the terms of the
Custody Agreement, all securities representing the investment of Investment Funds pursuant to
Section 2.4 hereof, and the income or earnings derived therefrom.
b) hold the Investment Property:
i.
in its account at Depository Trust Company or other depository or clearing corporation;
or
ii.
in a book entry account with the Federal Reserve Bank in which case a separate
accounting of the Investment Property shall be maintained by the Custodian at all times.
The Investment Property held by any such depository or clearing corporation or Federal Reserve
Bank may be held in the name of their respective nominees provided, however, that the custodial
relationship and the interests of CalFIT regarding such Investment Property shall be noted on the
records of the Administrator and the custodial relationship on behalf of CalFIT shall be noted on
the records of the Custodian.
c) notify the Administrator, in writing or verbally with written, email, or facsimile confirmation, in
advance of the Custodian taking any elective action involving the Investment Property.
d) upon instruction of the Administrator, the Custodian is authorized to:

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i.
ii.
iii.
iv.

receive and distribute Investment Funds and all other Investment Property as directed by
the Administrator;
exchange securities in temporary or bearer form for securities in definitive or registered
form; and surrender securities at maturity or earlier when advised of a call for
redemption;
make, execute, acknowledge, and deliver as Custodian all documents or instruments
(including but not limited to all declarations, affidavits, and certificates of ownership)
that may be necessary or appropriate to carry out the powers granted herein; and
take any other action required by the Custody Agreement.

7.6 CUSTODIAL RELATIONSHIP; CUSTODIAN RECORDS

a) The Custodian shall hold the Investment Property in its capacity as Custodian on behalf of
CalFIT. Such Investment Property shall be custodial property of the Custodian (other than cash)
and shall not be, or be deemed to be, an asset of the Custodian.
b) Within fifteen (15) days after the end of each month, the Custodian shall send statements
providing the closing balance in the Account at the end of such month and the transactions
performed in the Account during such month to the Administrator and CalFIT.

8 ARTICLE – INTERESTS OF PARTICIPANTS
8.1 GENERAL

CalFIT, in its discretion, may authorize the division of the Investment Property into one or more Pools as
provided in Section 6.4 hereof. The beneficial interests of the Participants hereunder in a Pool and the
earnings thereon shall be divided into Shares. Shares shall be used as units to measure the proportionate
allocation to the respective Participants of the beneficial interests of a Pool. As required by Section
6509.7 of the Act, each Share shall represent an equal proportionate interest in the Investment Property
within a Pool. The number of Shares that may be used to measure and represent the proportionate
allocation of beneficial interests among the Participants in a Pool is unlimited. All Shares in a Pool shall
be of one class representing equal distribution, liquidation, and other rights. The beneficial interests
measured by the Shares shall not entitle a Participant to preference, preemptive, appraisal, conversion, or
exchange rights of any kind with respect to CalFIT Investment Program or the Investment Property held
in the applicable Pool. Title to the Investment Property held in the applicable Pool of every description is
vested in CalFIT. The Participants shall have no interest in the Investment Property held in the applicable
Pool other than the beneficial interests conferred hereby and measured by their Shares, and they shall
have no right to call for any partition or division of any property, profits, rights, or interests of CalFIT.

8.2 ALLOCATION OF SHARES

a) In its discretion, CalFIT may from time to time allocate Shares in addition to the then allocated
Shares to such Participant for such amount and such type of consideration (including without
limitation income from the investment of Investment Property held in the applicable Pool) at such
time(s) (including without limitation each Business Day in accordance with the maintenance of a
constant net asset value per Shares as set forth in this Agreement for constant net asset value
Pools), and on such terms as CalFIT may deem in accordance with the Participant’s pro rata
beneficial interests. In connection with any allocation of Shares, CalFIT may allocate fractional

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Joint Exercise of Powers Agreement
Shares. From time to time, CalFIT may adjust the total number of Shares allocated without
thereby changing the proportionate beneficial interests in the Investment Property held in the
applicable Pool. Reductions or increases in the number of allocated Shares may be made in order
to maintain a constant net asset value per Share as set forth in Section 10.1 hereof for constant net
asset value Pools. Shares shall be allocated and redeemed as one hundredths (1/100ths) of a Share
or any multiple thereof.
b) Shares may be allocated only to a Participant in accordance with this Agreement. Any Participant
may establish more than one Account within the CalFIT Investment Program or any Pool thereof
for such Participant’s convenience.

8.3 EVIDENCE OF SHARE ALLOCATION

Evidence of Shares allocation shall be reflected in the records of CalFIT, and CalFIT shall not be required
to issue certificates as evidence of Shares allocation.

8.4 REDEMPTION TO MAINTAIN CONSTANT NET ASSET VALUE FOR CONSTANT
NET ASSET VALUE POOLS

The Shares shall be subject to redemption pursuant to the procedure for reduction of outstanding Shares in
order to maintain the constant net asset value per Shares for constant net asset value Pools unless
provided otherwise in the Information Statement for the applicable Pool.

8.5 REDEMPTIONS

Payments by CalFIT to Participants, and the reduction of Shares resulting therefrom, are referred to in this
Agreement as redemptions for convenience. Any and all allocated Shares may be redeemed at the option
of the Participant upon and subject to the terms and conditions provided in this Agreement and any
applicable Investment Policy and Information Statement for such Pool. The procedures for effecting
redemption shall be prescribed by CalFIT provided, however, that such procedures shall not be structured
so as to substantially and materially restrict the ability of the Participants to withdraw funds from the
CalFIT Investment Program.

8.6 SUSPENSION OF REDEMPTION; POSTPONEMENT OF PAYMENT

a) Each Participant, by its investment in any Pool, agrees that CalFIT may temporarily suspend the
right of redemption or postpone the date of payment for redeemed Shares for the whole or any
part of any period:
i.
During which trading in securities generally on the New York Stock Exchange or the
American Stock Exchange or over-the-counter market shall have been suspended or
minimum prices or maximum daily charges shall have been established on such exchange
or market;
ii.
If a general banking moratorium shall have been declared by Federal, state, or the State
of New York or State of California authorities or during a suspension of payments by
banks in the State of California;
iii.
During which there shall have occurred any state of war or national emergency; or
iv.
During which any financial emergency or other crisis the effect of which on the financial
markets of the United States is such as to make it impracticable (a) to dispose of the

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Joint Exercise of Powers Agreement
Investment Property because of the substantial losses that might be incurred or to
determine the Investment Property Value in accordance with the Valuation Procedures.
b) The Administrator shall determine, on behalf of CalFIT, when an event occurs that, under this
Section entitles the Custodian to temporarily suspend or postpone a Participant’s right to
redemption, and shall immediately notify the Custodian and each Participant by facsimile, email,
mail, or telephone of such determination. Such a suspension or postponement shall not itself
directly alter or affect a Participant’s Balance.
c) Such a suspension or postponement shall take effect at such time as is determined by the
Administrator, and thereafter there shall be no right to request a redemption of Shares until the
first to occur of: (a) in the case of (i), (ii) or (iv) above, the time at which the Administrator
declares the suspension or postponement at an end, such declaration shall occur on the first day
on which the period specified in the clause (i), (ii) or (iv) above shall have expired; and (b) in the
case of (iii) above, the first day on which the period specified in clause (iii) above is no longer
continuing to the extent that redemption is made impractical.
d) Any Participant that requested a payment prior to any suspension or postponement of payment
may withdraw its request at any time prior to the termination of the suspension or postponement.

8.7 DEFECTIVE REDEMPTION REQUESTS

In the event that a Participant shall submit a request for the redemption of a greater number of Shares than
are then allocated to such Participant, such request shall not be honored.

9 ARTICLE – RECORD OF SHARES
9.1 SHARE RECORDS

CalFIT shall maintain records that shall contain:
a) The names and addresses of the Participants;
b) The number of Shares representing their respective beneficial interests in any Account in any
Pool hereunder; and
c) A record of all allocations and redemptions. Such records shall be conclusive as to the identity of
the Participants to which Shares are allocated. Only Participants whose allocation of Shares is
recorded in CalFIT records shall be entitled to receive distributions with respect to Shares or
otherwise to exercise or enjoy the rights and benefits related to the beneficial interests represented
by the Shares. No Participant shall be entitled to receive any distribution nor to have notices
given to it until it has given its appropriate address to CalFIT.

9.2 MAINTENANCE OF RECORDS

The Administrator, or such other person appointed by the Administrator or CalFIT, shall record the
allocations of Shares in each Account in any Pool in the records of CalFIT.

9.3 OWNER OF RECORD

No person becoming entitled to any Shares in consequence of the bankruptcy or insolvency of any
Participant or otherwise by operation of law shall be recorded as the Participant to which such Shares are
allocated unless such person is otherwise qualified to become a Participant. If not qualified, such person

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Joint Exercise of Powers Agreement
shall present proof of entitlement to CalFIT and if CalFIT, in its sole discretion, deems appropriate then
be entitled to the redemption value of the Shares.

9.4 TRANSFER OF SHARES

The beneficial interests measured by the Shares shall not be transferable, in whole or in part, other than to
CalFIT itself or another Participant for purposes of redemption. Shares also may be redeemed from one
Participant’s Account and the proceeds deposited directly into another Participant’s Account upon
instructions from the Authorized Representative of the respective Participants.

9.5 LIMITATION OF RESPONSIBILITY

CalFITshall not, nor shall the Participants or any officer, employee or agent of CalFIT, be bound to
determine the existence of any trust, express, implied or constructive, or of any charge, pledge, or equity
to which any of the Shares or any interest therein are subject or to ascertain or inquire whether any
redemption of any such Shares by any Participant or its Authorized Representatives is authorized by such
trust, charge, pledge or equity, or to recognize any person as having any interest therein except the
Participant recorded as the Participant to which such Shares are allocated. The receipt of moneys by the
Participant in whose name any Shares is recorded or by the Authorized Representative or duly authorized
agent of such Participant shall be a sufficient discharge for all moneys payable or deliverable in respect of
such Shares and from all responsibility to see the proper application thereof.

9.6 NOTICES

Any and all notices to which Participants hereunder may be entitled and any and all communications shall
be deemed duly served or given if electronically or mailed, postage prepaid, addressed to Participants of
record at the electronic or physical mailing addresses recorded in the records of CalFIT.

10 ARTICLE – DETERMINATION OF NET ASSET VALUE, NET
INCOME, DISTRIBUTIONS AND ALLOCATIONS
10.1 DETERMINATION OF NET ASSET VALUE, NET INCOME, DISTRIBUTIONS AND
ALLOCATIONS

The Information Statement for each Pool within the CalFIT Investment Program shall set forth the basis
and times for determining the per Share net asset value of the Shares, the net income, and the declaration
and payment of distributions, as CalFIT, in its absolute discretion, may determine.

11 ARTICLE – CALFIT INVESTMENT PROGRAM COSTS
11.1 EXPENSES

In consideration of the performance of its obligations hereunder, the Administrator shall receive a fee as
set forth in the Administrator Agreement described in Section 5.1 hereof, which fee shall be paid from the
earnings on the Accounts. The Administrator’s fee shall be an Investment Property Liability. From its fee,
the Administrator shall pay the following costs and expenses: the Investment Adviser’s fee set forth in the

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Joint Exercise of Powers Agreement
Investment Adviser Agreement, the Custodian’s fee set forth in the Custody Agreement, the costs of third
parties retained by the Administrator to render investment advice pursuant to the Administrator
Agreement, marketing expenses, all custodial and securities clearance transaction charges, the cost of
valuing the Investment Property, the cost of obtaining a rating or ratings, if any, the cost of other expenses
agreed to by the Administrator and CalFIT, all Investment Property record-keeping expenses, the cost of
preparing monthly and annual reports, the expense of outside auditors required pursuant to the
Administrator Agreement (but only if the Administrator selects such auditors), the fees of the counsel to
the Administrator and/or the counsel to CalFIT, the cost of Meetings of the Board, the cost of employee
and administrative expenses, the cost of reimbursement for reasonable expenses incurred by Trustees in
the course of their duties, insurance costs and the costs of Participant surveys and mailings. At least
quarterly, the Administrator shall provide a detailed accounting of such expenses to the Trustees.

12 ARTICLE – REPRESENTATIONS AND WARRANTIES OF EACH
MEMBER
12.1 REPRESENTATIONS AND WARRANTIES OF EACH MEMBER

a) the Member is a Public Agency and political subdivision of a state, or an agency, authority, or
instrumentality of the United States, a state or any political subdivision of a state; and
b) each of the recitals to this Agreement is true as it relates to such Member; and
c) the Member has taken all necessary actions and has received all necessary approvals and consents
and adopted all necessary resolutions in order to execute and deliver this Agreement and to
perform its obligations hereunder; and
d) the execution, delivery, and performance of this Agreement by the Member are within the power
and authority of the Member and do not violate the laws, rules, or regulations of the State of
California applicable to the Member or its organizational statute, instrument, or documents or any
other applicable Federal, state, or local law.

13 ARTICLE – LIMITATIONS OF MEMBERS, PARTICIPANTS,
TRUSTEES AND OTHERS
13.1 NO PERSONAL LIABILITY OF MEMBERS, PARTICIPANTS, TRUSTEES AND
OTHERS

Except in the case of fraud or willful misconduct, no Member, Participant and, subject to Section 13.3
hereof, no Trustee, officer, employee or agent of CalFIT, acting in its capacity as a , Member, Participant,
Trustee, officer, employee or agent of CalFIT, as applicable, shall be subject to any personal liability
whatsoever to any person in connection with property or the acts, obligations or affairs of CalFIT, and all
such persons shall look solely to the Investment Property for satisfaction of claims of any nature arising in
connection with the affairs of CalFIT. Except in the case of fraud or willful misconduct, no Member,
Participant, Trustee, officer, employee, or agent, as such, of CalFIT who is made a party to any suit or
proceeding to enforce any such liability, shall be held to any personal liability. The debts, liabilities and
obligations of CalFIT shall not be the debts, liabilities and obligations of any Member, Participant,
Trustee, officer, employee or agent of CalFIT, unless otherwise provided in this Agreement provided,

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Joint Exercise of Powers Agreement
however, that in such case, such debts, liabilities and obligations shall be limited to the value of the
Investment Property.

13.2 INDEMNIFICATION OF PARTICIPANTS

CalFIT shall indemnify and hold each Participant harmless from and against all claims and liabilities to
which such Participant may become subject by reason of its being or having been a Participant in the
CalFIT Investment Program and shall reimburse such Participant for all legal and other expenses
reasonably incurred by it in connection with any such claim or liability provided, however, that: (a) such
Participant was acting in accordance with all legal and policy requirements and investment objectives
applicable to such Participant, including any limitations that the Participant has adopted or is subject to
which are more restrictive than state law, (b) such indemnity or reimbursement shall be made from the
Investment Property in the applicable Pool in respect of which such claim or liability arose and not from
any other Investment Property, and (c) no indemnification shall be made for any Participant’s negligence
or willful misconduct. The rights accruing to a Participant under this Section 13.2 shall not exclude any
other right to which such Participant may be lawfully entitled, nor shall anything herein contained restrict
the right of CalFIT to indemnify or reimburse a Participant in any appropriate situation even though not
specifically provided herein.

13.3 BAD FAITH OF TRUSTEES AND OTHERS

No Trustee, officer, employee or agent of CalFIT shall be liable to CalFIT, or to any Member, Participant,
Trustee, officer, employee or agent thereof for any action or failure to act, except for his or her own bad
faith, willful misfeasance, gross negligence or reckless disregard of duty (collectively, “Bad Faith”).

13.4 INDEMNIFICATION OF TRUSTEES AND OTHERS FROM THIRD-PARTY
ACTIONS

Any person who serves as a Trustee or Officer, for acts or omissions while acting for or on behalf of the
Trust, will be entitled to defense and indemnity from the Trust to the extent provided in California
Government Code sections 825, et seq., and 995, et seq.

13.5 INDEMNIFICATION OF TRUSTEES AND OTHERS FOR SUCCESSFUL DEFENSE

To the extent that a Trustee, officer or employee of CalFIT has been successful on the merits in defense of
any proceeding referred to in Section 13.4 hereof or in defense of any claim, issue or matter therein,
before the court or other body before which the proceeding was brought, such person shall be indemnified
against expenses actually and reasonably incurred in connection therewith.

13.6 ADVANCE EXPENSES

Expenses incurred in defending any proceeding may be advanced by CalFIT before the final disposition
of the proceeding upon a written undertaking by or on behalf of the Trustee, officer or employee of
CalFIT, to repay the amount of the advance if it is ultimately determined that he or she is not entitled to
indemnification, together with at least one of the following as a condition to the advance: (i) security for
the undertaking; or (ii) the existence of insurance protecting CalFIT against losses arising by reason of
any lawful advances; or (iii) a determination by a majority of the Trustees who are not parties to the
proceeding (“Non-Interested Trustees”), or by independent legal counsel in a written opinion, based on

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Joint Exercise of Powers Agreement
a review of readily available facts, that there is reason to believe that such person ultimately will be found
entitled to indemnification.

13.7 EXCLUSION AND LIMITATIONS OF INDEMNIFICATION OF TRUSTEES AND
OTHERS

Notwithstanding the foregoing, no indemnification or advance shall be made under Sections 13.4 to 13.6
hereof:
a) Bad Faith. For any liability arising by reason of Bad Faith of a Trustee, officer or employee of
CalFIT.
b) Improper Personal Benefit. In respect of any claim, issue, or matter as to which a Trustee,
officer or employee of CalFIT shall have been adjudged to be liable on the basis that personal
benefit was improperly received by him or her, whether or not the benefit resulted from an action
taken in such person’s official capacity.
c) Otherwise Prohibited. In any circumstances where it appears that it would be inconsistent with
any condition expressly imposed by a court, any provision of this Agreement, or any agreement
in effect at the time of accrual of the alleged cause of action asserted in the proceeding in which
the expenses were incurred or other amounts were paid which prohibits or otherwise limits
indemnification or advance.
d) Limited to CalFIT Assets. In any amount, individually or in the aggregate, that exceeds the
value of the Investment Property. If there are concurrent indemnifications of multiple Participants
under this Article XIII, such indemnifications shall be made on a pro rata basis up to the value of
the Investment Property.

13.8 OBLIGATIONS UNDER LAW

Notwithstanding anything herein or in the Investment Management Agreement to the contrary, nothing
herein or therein is intended to relieve any Member or Participant of any obligation it has under state or
Federal law to monitor, review, evaluate or provide oversight with respect to the Shares, the Investment
Adviser, or its participation in CalFIT.

13.9 REQUIRED APPROVAL

No indemnification or advance shall be made under Sections 13.4 to 13.6 hereof unless and until it is
determined, by a majority of the Non-Interested Trustees, or by independent legal counsel in a written
opinion, based on a review of readily available facts, that indemnification of a Trustee, officer, employee
or agent of CalFIT is proper in the circumstances because such person has met the applicable standard of
conduct set forth in Sections 13.4 to 13.6 hereof, as applicable, and such indemnification is not excluded
by reason of Section 13.7 hereof.

13.10 FIDUCIARIES OF EMPLOYEE BENEFIT PLAN

This Article XIII does not provide indemnification or release from liability with respect to any proceeding
against any trustee, Investment Adviser or other fiduciary of an employee benefit plan in such person’s
capacity as such, even though such person may also be a Trustee, officer, employee or agent of CalFIT.
Nothing contained in this Article 13 shall limit any right to indemnification to which such a trustee,
Investment Adviser, or other fiduciary may be entitled by contract or otherwise which shall be
enforceable to the extent permitted by applicable laws other than this Article 13.

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Joint Exercise of Powers Agreement

13.11 NO DUTY OF INVESTIGATION AND NOTICE IN CALFIT INSTRUMENTS

No purchaser, lender, transfer agent, record keeper or other person dealing with any Trustee, officer,
employee or agent of CalFIT shall be bound to make any inquiry concerning the validity of any
transaction purporting to be made by such Trustee, officer, employee or agent or be liable for the
application of money or property paid, loaned, or delivered to or on the order of such Trustee, officer,
employee or agent. Every obligation, contract, instrument, certificate, Share or other security of CalFIT
and undertaking, and every other document executed in connection with CalFIT, shall be conclusively
presumed to have been executed or done by the executors thereof only in their capacity as Trustees under
this Agreement or in their capacity as officers, employees or agents of CalFIT. Every written obligation,
contract, instrument, certificate, Share or other security of CalFIT or undertaking made or issued by any
Trustee shall recite that it is executed by such Trustee not individually, but in the capacity as Trustee
under this Agreement, and that the obligations of any such instruments are not binding upon any of the
Trustees, Founding Members or Participants individually, but bind only CalFIT property, but the
omission of such recital shall not operate to bind the Trustees, Founding Members or Participants
individually.

13.12 RELIANCE ON EXPERTS

Each Trustee, officer, employee and agent of CalFIT shall, in the performance of his or her duties, be
fully protected with regard to any act or any failure to act resulting from reliance in good faith upon the
books of account or other records of CalFIT, upon an opinion of counsel, or upon reports made to CalFIT
by any of its officers or employees or by the investment adviser, administrator, transfer agent, record
keeper, custodian, distributor accountants, appraisers or other experts or consultants selected with
reasonable care by the Trustees, officers, employees or agents of CalFIT.

13.13 IMMUNITY FROM LIABILITY

All of the privileges and immunities from liability, all exemptions from laws, ordinances and rules, and
all pension, relief, disability, workmen’s compensation, and other benefits which apply to the activity of
the trustees, officers, employees or agents of the Members when performing their functions within the
territorial limits of their respective Public Agencies, shall apply to them to the same degree and extent
while engaged in the performance of any of their functions and duties associated with CalFIT.

13.14 FURTHER RESTRICTION OF DUTIES AND LIABILITIES

Without limiting the foregoing provisions of this Article 13, the Trustees, officers, employees and
Members of CalFIT shall in no event have any greater duties or liabilities than those imposed by
applicable laws as shall be in effect from time to time.

14 ARTICLE – AMENDMENT AND TERMINATION
14.1 AMENDMENT

Unless explicitly set forth otherwise herein, this Agreement may be amended only by a majority vote of
the Board. Nothing in this Agreement shall permit its amendment to violate the Act or the Applicable
Law or impair the exemption from personal liability of the Members, Participants, Trustees, officers,
employees and agents of CalFIT or to permit assessments upon Participants. Notice of any amendment to

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Joint Exercise of Powers Agreement
this Agreement shall be filed with the office of the Secretary of State of California pursuant to Section
6503.5. Participants shall also be notified of any amendment to this Agreement through electronic
communications.

14.2 TERMINATION

a) This Agreement shall continue in full force and effect unless terminated as set forth in this
Section 14.2. This Agreement may be terminated at any time pursuant to a duly adopted
amendment hereto approved by the unanimous vote of the Board provided, however, that in no
event shall this Agreement terminate so long as CalFIT has any unpaid debts or obligations.
b) Upon the termination of this Agreement pursuant to this Section 14.2:
i.
the Custodian, CalFIT, and the Administrator shall carry on no business in connection
with the CalFIT Investment Program except for the purpose of satisfying the Investment
Property Liabilities and winding up their affairs in connection with the Investment
Property;
ii.
the Custodian, CalFIT, and the Administrator shall proceed to wind up their affairs in
connection with the CalFIT Investment Program, and all of the powers of CalFIT, the
Administrator, and the Custodian under this Agreement, the Administrator Agreement,
and the Custody Agreement, respectively, shall continue until the affairs of CalFIT, the
Administrator, and the Custodian in connection with the CalFIT Investment Program
shall have been wound up, including but not limited to the power to collect amounts
owed, sell, convey, assign, exchange, transfer, or otherwise dispose of all or any part of
the remaining Investment Property to one or more persons at public or private sale for
consideration that may consist in whole or in part of cash, securities, or other property of
any kind, discharge or pay Investment Property Liabilities, and do all other acts
appropriate to liquidate their affairs in connection with the CalFIT Investment Program;
and
iii.
after paying or adequately providing for the payment of all Investment Property
Liabilities and upon receipt of such releases, indemnities, and refunding agreements as
each of CalFIT, Administrator, and Custodian deem necessary for their protection,
CalFIT shall take all necessary actions to cause the distribution of the remaining
Investment Property, in cash or in kind or partly in each, among the Participants
according to their respective proportionate Balances.
c) Upon termination of this Agreement and distribution to the Participants as herein provided,
CalFIT shall direct the Administrator to execute and lodge among the records maintained in
connection with this Agreement an instrument in writing setting forth the fact of such
termination, and CalFIT and Members shall thereupon be discharged from all further liabilities
and duties hereunder, and the rights and benefits of all Participants hereunder shall cease and be
canceled and discharged.

15 ARTICLE – MISCELLANEOUS
15.1 GOVERNING LAW

This Agreement is executed by the Founding Members and delivered in the State of California and with
reference to the laws thereof, and the rights of all parties and the validity, construction, and effect of every
provision hereof shall be subject to and construed according to the laws of the State of California.

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Joint Exercise of Powers Agreement

15.2 SEVERABILITY

The provisions of this Agreement are severable, and if any one or more of such provisions (the
“Conflicting Provisions”) are in conflict with applicable laws, the Conflicting Provisions shall be
deemed never to have constituted a part of this Agreement, and this Agreement may be amended pursuant
to Section 14.1 hereof to remove the Conflicting Provisions provided, however, that such conflict or
amendment shall not affect or impair any of the remaining provisions of this Agreement or render invalid
or improper any action taken or omitted prior to the discovery or removal of the Conflicting Provisions.

15.3 COUNTERPARTS

This Agreement may be executed in several counterparts, each of which when so executed shall be
deemed to be an original, and such counterparts, together, shall constitute but one and the same
instrument that shall be sufficiently evidenced by any such original counterpart.

15.4 NO ASSIGNMENT

No assignment of this Agreement may be made by any party without consent of the non-assigning party

15.5 GENDER; SECTION HEADINGS AND TABLE OF CONTENTS

a) Words of the masculine gender shall mean and include correlative words of the feminine and
neuter genders, and words importing the singular number shall mean and include the plural
number and vice versa.
b) Any headings preceding the texts of the several Articles and Sections of this Agreement and any
table of contents or marginal notes appended to copies hereof shall be solely for convenience of
reference and shall neither constitute a part of this Agreement nor affect its meaning,
construction, or effect.

15.6 NO PARTNERSHIP

Other than the creation by the Founding Members of a joint exercise of powers entity pursuant to the Act,
this Agreement does not create or constitute an association of two or more persons to carry on as coowners a business for profit, and none of the parties intends this Agreement to constitute a partnership or
any other joint venture or association.

15.7 NOTICE

Unless oral notice is otherwise allowed in this Agreement and except as otherwise provided herein, all
notices required to be sent under this Agreement:
a) shall be in writing;
b) shall be deemed to be sufficient if given by (i) depositing the same in the United States mail
properly addressed, postage prepaid, or (ii) electronically transmitting such notice by any means
such as by facsimile transmission, email, or other electronic means, or (iii) by depositing the same
with a courier delivery service, addressed to the person entitled thereto at his address or phone
number as it appears on the records maintained by the Administrator;
c) shall be deemed to have been given on the day of such transmission if delivered pursuant to
subsection (b)(ii) or on the third day after deposit if delivered pursuant to subsection (b)(i) or
(b)(iii); and

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Joint Exercise of Powers Agreement
d) any of the methods specified in Section 15.7(b) hereof shall be sufficient to deliver any notice
required hereunder notwithstanding that one or more of such methods may not be specifically
listed in the Sections hereunder requiring such notice.

15.8 CONFIDENTIALITY

All information and recommendations furnished by the Administrator to any Participants or CalFIT that is
marked confidential and all information and directions furnished by the Administrator to the Custodian
shall be regarded as confidential by each such person to the extent permitted by law. Nothing in this
Section shall prevent any party from divulging information as required by law or from divulging
information to civil, criminal, bank, or securities regulatory authorities where such party may be exposed
to civil or criminal proceedings or penalties for failure to comply, or from divulging information in
accordance with State of California laws or to prevent the Administrator from distributing copies of this
Agreement, the names of the Participants, or the Investment Property Value to third parties.

15.9 ENTIRE AGREEMENT

This Agreement shall constitute the entire agreement of the parties with respect to the subject matter and
shall supersede all prior oral or written agreements in regard thereto.

15.10 DISPUTES

In the event of any dispute between the parties, the parties agree to attempt to resolve the dispute through
negotiation. To the extent permitted by law, no litigation shall be commenced without a certification by
an authorized officer, employee, or agent of any party that the dispute cannot be resolved by negotiation
provided in writing at least 10 days before commencing legal action.

15.11 WRITINGS

Whenever this Agreement requires a notice, instruction, or confirmation to be in writing or a written
report to be made or a written record to be maintained, it shall be sufficient if such writing is produced or
maintained by electronic means or maintained by any other photostatic, photographic, or micrographic
data storage method such as digital discs as well as on paper.

15.12 EFFECTIVE DATE

This Agreement shall become effective on the Effective Date.

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Joint Exercise of Powers Agreement
SIGNATURE PAGE FOR JOINT EXERCISE OF POWERS AGREEMENT
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed in their names and on
their behalf as of the date first written above.

ALAMEDA COUNTY
By:
Name:
Title:

Hank Levy
Treasurer-Tax Collector

SAN DIEGO COUNTY WATER AUTHORITY
By:
Name:
Title:

Lisa Marie Harris
Director of Finance/Treasurer

LAKE COUNTY
By:
Name:
Title:

Patrick Sullivan
Treasurer-Tax Collector

SAN DIEGO COUNTY
By:
Name:
Title:

Chris Herrera
Chief Investment Officer

[the remainder of this page has intentionally been left blank]

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Joint Exercise of Powers Agreement

EXHIBIT A – VALUATION PROCEDURES
EXHIBIT A
Valuation Procedures
1. Portfolio Valuation
CalFIT follows Financial Accounting Standards Board Accounting Standards Codification (ASC) 820
Fair Value Measurement and Disclosure for financial reporting purposes. ASC 820 defines fair value,
establishes a single framework for measuring fair value, and requires disclosures about fair value
measurement.
At least daily, the Investment Property Value shall be determined on a mark to market basis as follows:
(a) securities for which market quotations are readily available are valued at the most recent bid price or
yield equivalent as obtained from one or more market makers for such securities or a third-party pricing
source; (b) all other securities and assets are valued at fair market value in good faith.
2. Amendment
These Valuation Procedures may be amended from time to time as provided in the Agreement.

35

Attachment 4

An Investment Pool for California Public Investors

Information
Statement

www.calfitfund.com

TABLE OF CONTENTS
1

Introduction ............................................................................................................................................................. 0

2

CalFIT Stable Value Pool Summary .................................................................................................................. 0

3

Stable Value Pool General Objectives ............................................................................................................. 1

4

Transparency............................................................................................................................................................ 2

5

Eligible Participants............................................................................................................................................... 2

6

Stable Value Pool Investment Policy ............................................................................................................... 2
6.1

Investment Objectives ................................................................................................................................ 3

6.2

Authorized Investments ............................................................................................................................. 3

6.3

Delivery and Custody ................................................................................................................................... 7

7

Shares; Interests of Participants ........................................................................................................................ 7

8

Investment Risks .................................................................................................................................................... 8
8.1

Interest Rate Risks ........................................................................................................................................ 8

8.2

Credit Risks ...................................................................................................................................................... 8

8.3

Stable Net Asset Value Risks ..................................................................................................................... 8

8.4

Investment Not Insured or Guaranteed ................................................................................................ 8

9

Board .......................................................................................................................................................................... 8

10

Investment Adviser & Administrator ........................................................................................................... 9

11

Custodian .................................................................................................................................................................. 9

12

Independent Auditors .................................................................................................................................... 10

13

How to Become a Participant ..................................................................................................................... 10

14

Purchase of Shares; Investments ............................................................................................................... 10
14.1

15

Investment Procedures............................................................................................................................. 10
Redemption of Shares; Withdrawals; Transfers .................................................................................... 11

15.1

Payment Procedures ................................................................................................................................. 12

16

Portfolio Transactions..................................................................................................................................... 12

17

Valuation of Stable Value Pool Shares ...................................................................................................... 12
17.1

Computation of Yields ............................................................................................................................... 13

18

Income Allocations .......................................................................................................................................... 13

19

Retained Reserves ........................................................................................................................................... 14

20

CalFIT Expenses ................................................................................................................................................ 14

20.1
21

Expense payments ..................................................................................................................................... 14
Reports to Participants .................................................................................................................................. 15

Stable Value Pool Information Statement
California Fixed Income Trust (“CalFIT”)
Adopted: September 8, 2025

1

INTRODUCTION

The purpose of this Information Statement is to provide information to Participants (as
defined herein) in connection with the purchase of Shares (as defined herein) in the Stable
Value Pool (referred to in the Joint Exercise of Powers Agreement as the “Stable NAV
Portfolio.” This Information Statement for the Stable Value Pool describes certain provisions
of the JPA Agreement (as defined herein) for CalFIT and the Investment Policy for the Stable
Value Pool. Participants interested in the purchase of Shares in the Stable Value Pool should
review the full terms of the JPA Agreement and the Investment Policy for the Stable Value
Pool described herein, located at www.calfitfund.com. Capitalized terms not otherwise
defined herein shall have the meanings set forth in the JPA Agreement.
The contents of this Information Statement should not be considered to be legal, tax or
investment advice, and Participants should consult with their own counsel and advisers as to
all matters concerning investment in the Stable Value Pool.
2

CALFIT STABLE VALUE POOL SUMMARY

The California Fixed Income Trust, doing business as CalFIT, is a California joint powers
authority created pursuant to Title 1, Division 7, Chapter 5 of the California Government Code
(commencing with Section 6500), known as the Joint Exercise of Powers Act (Act) and the
JPA Agreement referenced below.
The Act provides that two or more public agencies (as defined herein, Public Agencies) that
have the authority to invest funds in their treasuries may, by agreement, jointly exercise that
common power and create a joint powers authority separate from such Public Agencies to
exercise such common power and to act as administrator of the agreement. Under this
authority, CalFIT was created pursuant to a Joint Exercise of Powers Agreement (JPA
Agreement) dated as of July 22, 2025, between the Founding Members (as defined in the JPA
Agreement).
The Act authorizes a joint powers authority, such as CalFIT, to issue shares of beneficial
interest in authorized investments to participating Public Agencies (collectively referred to
herein, as Participants and individually, as a Participant). See “Eligible Participants.” The JPA
Agreement sets forth the terms of the investment program known as the CalFIT Investment
Program, including the establishment of Pools in which Participants purchase shares of
beneficial interest issued by CalFIT in authorized investments that are owned by CalFIT. The
Stable Value Pool is the initial Pool established by CalFIT.
The purpose of CalFIT is to consolidate investment activities of the Participants and thereby
reduce duplication, take advantage of economies of scale, and perform governmental
functions more efficiently through the CalFIT Investment Program.

Information Statement
As a joint powers authority, CalFIT provides a professionally managed pooled investment
program for Participants. See “Investment Adviser & Administrator.” Pursuant to the JPA
Agreement, CalFIT is governed by a Board. See “Board.”
The Shares in the Stable Value Pool have not been, and are not required to be, registered
under any federal or state securities law. CalFIT has not been, and is not required to be,
registered under the Investment Company Act of 1940, as amended. Accordingly, CalFIT and
its Stable Value Pool are not subject to the provisions of that Act, including the protective
rules relating to registered money market funds and other types of mutual funds.
3

STABLE VALUE POOL GENERAL OBJECTIVES

CalFIT provides a professionally managed pooled investment program for Participants. The
general objective of the Stable Value Pool is to generate additional investment income for
the Participants while maintaining safety and liquidity. The Stable Value Pool is managed by
the Board to comply with the requirements of California law.
As described below, the investment objectives of the Stable Value Pool are to preserve
principal, provide daily liquidity, earn a competitive rate of return, comply with GASB 79, and
strive to maintain a stable Net Asset Value (“NAV”) of $1.00. The Stable Value Pool accrues net
income daily and pays net income on a pro rata basis monthly.
CalFIT has established that the Stable Value Pool will have a maximum dollar-weighted
average maturity (“WAM”) of 60 days and a maximum weighted average life (“WAL”) of 120
days. Ten percent of the Stable Value Pool’s total assets must be liquid daily, and thirty
percent must be liquid weekly at the time of the most recent security purchase per GASB 79.
The Investment Policy created by CalFIT for the Stable Value Pool establishes the investment
objectives, policies and restrictions that are designed to facilitate the achievement of these
objectives. The full Investment Policy is included below.
The Investment Adviser for the Stable Value Pool will seek to maintain a ‘AAAm’ rating from
S&P Global Ratings or the equivalent on the Stable Value Pool. According to S&P Global
Ratings, a fund rated ‘AAAm’ demonstrates extremely strong capacity to maintain principal
stability and to limit exposure to principal losses due to credit risk. ‘AAAm’ is the highest
principal stability fund rating assigned by S&P Global Ratings. 1
The investment objectives of the Stable Value Pool in order of priority are:

1

•

Safety: Safety of principal is the foremost objective of the investment program. The
Stable Value Pool is managed to emphasize the preservation of principal while
maintaining a stable NAV of $1.00.

•

Liquidity: The Stable Value Pool is managed to provide daily liquidity to its
Participants. See above for description of the maximum WAM and WAL for
investments in the Stable Value Pool.

•

Competitive Returns: The Stable Value Pool is managed to generate competitive
returns taking into account the investment risk constraints for safety and liquidity
needs.

https://www.spglobal.com/ratings/en/products/principle-stability-fund-ratings

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Information Statement
No assurances can be given that the investment objectives of the Stable Value Pool will be
achieved.
4

TRANSPARENCY

CalFIT seeks to provide transparency to Participants in the Stable Value Pool by allowing
Participants to readily obtain portfolio and account information. CalFIT will offer dedicated
Participant support with a technology platform. Historical and current performance data, net
asset value (NAV), weighted average maturity (WAM), and weighted average life (WAL) are
published and available to Participants on the CalFIT website. Portfolio holdings are
published no later than quarterly. Participant account information and expense ratios are
also published and available to Participants on the CalFIT website no later than quarterly.
5

ELIGIBLE PARTICIPANTS

Any Public Agency that has the authority to invest funds in its treasury in statutorily
permitted investments, including but not limited to Section 53601 of the California
Government Code, and meets the requirements described in the next paragraph is eligible
to become a Participant of the CalFIT Investment Program and is eligible to purchase shares
in the Stable Value Pool.
Each Participant must be a “Public Agency”, as that term is defined in Section 6509.7 of the
Act, which, as of the date of this Information Statement, is defined as "the federal
government or any federal department or agency, this state, another state or any state
department or agency, a county, county board of education, county superintendent of
schools, city, public corporation, public district, or regional transportation commission of the
State of California or another state, a federally recognized Indian tribe, or any joint powers
authority formed pursuant to this article by any of these agencies," and includes "a nonprofit
corporation whose membership is confined to public agencies or public officials." Each
Participant must also be a political subdivision of a state, or an agency, authority, or
instrumentality of the United States, a state of any political subdivision of a state.
6

STABLE VALUE POOL INVESTMENT POLICY

Funds in the Stable Value Pool are required to be invested by the Investment Adviser in
investments permitted by California law and this Investment Policy as established by CalFIT.
As required by California law, funds in the Stable Value Pool will be invested by the
Investment Adviser in accordance with the prudent investor standard of the California
Government Code.
The Stable Value Pool shall be invested to comply with Section 53635 of California Government
Code, which applies to a local agency that is a county, a city and a county, or other local agency
that pools money in deposits or investments with other agencies, and with the relevant
provisions of Section 53601 of California Government Code. Each Participant is responsible for
monitoring its investments to ensure its own compliance with California Government Code.
Moreover, each Participant is responsible for ensuring compliance with its own internal
policies and restrictions on investments. None of the CalFIT, the Administrator, the Investment
Adviser, the Custodian, or any other agents of CalFIT shall be responsible for such monitoring
or compliance.

2

Information Statement
6.1
INVESTMENT OBJECTIVES
As listed above in the section titled “Stable Value Pool General Objectives,” the objectives of
the Stable Value Pool are to preserve principal, provide daily liquidity, manage investment
risks, earn a competitive market rate of return, comply with California law and GASB 79, and
strive to maintain a stable Net Asset Value (NAV) of $1.00.
The Stable Value Pool shall have a maximum dollar-weighted average maturity (WAM) of 60
days and a maximum weighted average life (WAL) of 120 days. Ten percent (10%) of the Stable
Value Pool’s total assets must be daily liquid and thirty percent (30%) must be weekly liquid at
the time of the most recent security purchase per GASB 79.
The Investment Adviser for the Stable Value Pool will seek to maintain a rating in the highest
rating category by a nationally recognized statistical rating organization (NRSRO), reflecting
the highest underlying credit quality and relatively short-term maturity profile.
The investment objectives of the Stable Value Pool, in order of priority, are:
•

Safety - Safety of principal is the foremost objective of the investment program. The
Stable Value Pool is managed to emphasize the preservation of principal while
maintaining a stable NAV of $1.00.

•

Liquidity - The Stable Value Pool will be managed to provide daily liquidity to its
Participants. See above for description of the maximum WAM and WAL for
investments in the Stable Value Pool.

•

Competitive Returns – The Stable Value Pool is managed to generate competitive
returns, taking into account the investment risk constraints for safety and liquidity
needs.

No assurance can be given that the investment objectives of the Stable Value Pool will be
achieved.
6.2 AUTHORIZED INVESTMENTS
The Stable Value Pool’s investments are governed by California Government Code, Sections
53635 and 53600 et seq. and shall comply with GASB 79. Within the investments permitted by
the Code, the Board of Trustees (Board) of CalFIT has established these guidelines which in
some cases may be more restrictive. The Board may amend or revise this investment policy
from time to time in accordance with the JPA Agreement.
At the time of the investment’s maturity or liquidation, such funds shall be reinvested only as
provided in the current policy. Percentage holding limits and minimum credit requirements
listed in this section apply at the time the security is purchased. Maturity date is measured
from the date of trade settlement.
In the event that a security owned by the Stable Value Pool is downgraded below the
requirements of this investment policy, making the security ineligible for additional purchases,
the Investment Adviser shall evaluate the circumstances and, at its sole discretion, make a
determination to hold or sell the affected securities based upon a review of the issuer’s
financial condition, credit outlook, the security’s remaining term to maturity, and other
relevant considerations.
1.

U.S. Treasuries and other government obligations for which the full faith and credit of
the United States are pledged for the payment of principal and interest. There are no

3

Information Statement
limits on the dollar amount or percentage that the Stable Value Pool may invest in
U.S. Treasuries, provided that:
• The maximum maturity is 397 days for fixed rate obligations and 762 days for
variable rate obligations.
2.

Federal Agencies or United States Government-Sponsored Enterprise obligations,
participations, or other instruments, including those issued by or fully guaranteed as
to principal and interest by federal agencies or United States government-sponsored
enterprises. There are no limits on the dollar amount or percentage that the Stable
Value Pool may invest in Federal Agency or Government-Sponsored Enterprises
(GSEs), provided that:
• The maximum maturity is 397 days for fixed rate obligations and 762 days for
variable rate obligations.

3.

Municipal Securities include obligations of the State of California and any local

agency within the State of California, provided that:
•
•

The maximum maturity is 397 days
The securities are rated in a rating category of “A” or the equivalent or higher by
at least one NRSRO.

4. Municipal Securities (Registered treasury notes or bonds) of any of the other 49 states
in addition to California, including bonds payable solely out of the revenues from a
revenue-producing property owned, controlled, or operated by a state or by a
department, board, agency, or authority of any of the other 49 states, in addition to
California.
• The maximum maturity is 397 days
• The securities are rated in a rating category of “A” or the equivalent or higher by
at least one NRSRO.
5.

Banker’s Acceptances, provided that:
• The maximum maturity is 180 days.
• They are issued by institutions which have short-term debt obligations rated
“A-1” or the equivalent or higher by at least one NRSRO; or long-term debt
obligations which are rated in a rating category of “A” or the equivalent or higher
by at least one NRSRO.
• No more than 40% of the Stable Value Pool may be invested in Banker’s
Acceptances.
• No more than 5% of the Stable Value Pool may be invested in any single issuer.

6. Commercial Paper, provided that the securities are issued by an entity that meets all
of the following conditions in either paragraph (a) or (b) and other requirements
specified below:
a.

Securities issued by corporations:
(i) A corporation organized and operating in the United States with assets
more than $500 million.
(ii) The securities are rated “A-1” or the equivalent or higher by at least one
NRSRO.
(iii) If the issuer has other debt obligations, they must be rated in a rating
category of “A” or the equivalent or better by at least one NRSRO.

4

Information Statement
b. Securities issued by other entities:
(i) The issuer is organized within the United States as a special purpose
corporation, trust, or limited liability company.
(ii) The securities must have program-wide credit enhancements
including, but not limited to, overcollateralization, letters of credit, or a
surety bond.
(i) The securities are rated “A-1” or the equivalent or higher by at least one
NRSRO.
•
•
•
7.

The maximum maturity is 270 days.
No more than 40% of the Stable Value Pool may be invested in Commercial
Paper.
No more than 5% of the Stable Value Pool may be invested in any single issuer
of commercial paper.

Negotiable Certificates of Deposit (NCDs) issued by a nationally or state-chartered
bank, a savings association or a federal association, a state or federal credit union, or
by a federally licensed or state-licensed branch of a foreign bank, provided that:
• The maximum maturity is 397 days.
• Any amount above the FDIC insured limit must be issued by institutions which
have short-term debt obligations rated “A-1” or the equivalent or higher by at
least one NRSRO; or long-term obligations rated in a rating category of “A” or
the equivalent or higher by at least one NRSRO.
• No more than 30% of the total portfolio may be invested in NCDs.
• No more than 5% of the Stable Value Pool may be invested in any single issuer.

8. Repurchase Agreements collateralized with securities authorized under sections 1 and
2 of the authorized investments in this investment policy, without regard to maturity
date, maintained at a level of at least 102% of the notional value of the Repurchase
Agreement. Since the market value of the underlying collateral is subject to daily
fluctuations, the investments in repurchase agreements shall be in compliance if the
value of the underlying securities is brought to at least 102% by the next business day.
There are no limits on the dollar amount or percentage that the Stable Value Pool
may invest in repurchase agreements, provided that:
• The maximum maturity is one year.
• Securities used as collateral for Repurchase Agreements will be delivered to an
acceptable third party custodian.
• Repurchase Agreements are subject to a tri-party Master Repurchase
Agreement between the Stable Value Pool, custodian and the provider of the
repurchase agreement.
• The repurchase agreement counterparty must be a primary dealer as defined
by the Federal Reserve Bank of New York.
• The repurchase agreement counterparty or its parent must have a short-term
credit rating of “A-1” or the equivalent or higher by a NRSRO (or its long-term
equivalent category.)
9. Corporate Medium Term Notes (MTNs) where the issuer is a corporation organized
and operating within the United States or by depository institutions licensed by the
United States or any state and operating within the United States, provided that:
• The maximum maturity is 397 days.
• The securities are rated in a rating category of “A” or the equivalent or higher by
at least one NRSRO.

5

Information Statement
•
•

No more than 30% of the total portfolio may be invested in MTNs.
No more than 5% of the Stable Value Pool may be invested in any single issuer.

10. Asset-Backed, Mortgage-Backed, Mortgage Pass-Through Securities, and
Collateralized Mortgage Obligations from issuers not defined in sections 1, 2 and 6 of
the Authorized Investments section of this policy, provided that:
• The maximum maturity is 397 days.
• The securities are rated in a rating category of “AA” or the equivalent or higher
by a NRSRO.
• No more than 20% of the Stable Value Pool may be invested in these securities.
• No more than 5% of the Stable Value Pool may be invested in any single private
label Asset-Backed or Commercial Mortgage security issuer.
11. Money Market Mutual Funds that are registered with the Securities and Exchange
Commission under the Investment Company Act of 1940, provided that:
• The money market mutual fund must have retained an investment adviser
registered or exempt from registration with the Securities and Exchange
Commission with not less than five years’ experience managing money market
mutual funds with assets under management in excess of $500 million.
• The money market mutual fund must have attained the highest ranking or the
highest letter and numerical rating provided by at least two (2) NRSROs.
• The money market mutual fund must strive to maintain a net asset value of
$1.00.
• No more than 20% of the Stable Value Pool may be invested in money market
mutual funds.
• No more than 20% of the Stable Value Pool may be invested in the shares of any
one money market mutual fund.
12. Supranationals that are US dollar denominated senior unsecured unsubordinated
obligations issued or unconditionally guaranteed by the International Bank for
Reconstruction and Development, International Finance Corporation, or InterAmerican Development Bank, provided that:
• The maximum maturity is 397 days.
• The securities are rated in a rating category of “AA” or the equivalent or higher
by a NRSRO.
• No more than 30% of the total portfolio may be invested in these securities.
• No more than 10% of the Stable Value Pool may be invested in any single issuer.
13. Prohibited Investment Vehicles and Practices
•
•
•

•
•
•

State law notwithstanding, any investments not specifically described herein
are prohibited, including, but not limited to futures and options.
In accordance with Government Code, Section 53601.6, investment in inverse
floaters, range notes, or mortgage derived interest-only strips is prohibited.
Investment in any security that could result in a zero interest accrual if held to
maturity is prohibited. Under a provision sunsetting on January 1, 2026,
securities backed by the U.S. Government that could result in a zero- or
negative-interest accrual if held to maturity are permitted.
Trading securities for the sole purpose of speculating on the future direction of
interest rates is prohibited.
Purchasing or selling securities on margin is prohibited.
The use of reverse repurchase agreements, securities lending or any other form
of borrowing or leverage is prohibited.

6

Information Statement

•

6.3

• The purchase of foreign currency denominated securities is prohibited.
The purchase of a security with a forward settlement date exceeding 45 days from the
time of the investment is prohibited.

DELIVERY AND CUSTODY
Delivery-versus-Payment (DVP): Investment transactions shall be conducted on a
delivery-versus-payment basis.
2. Custody: All cash and securities in the Stable Value Pool shall be held in the Stable
Value Pool’s name by a third party custodian, acting as agent for the Stable Value
Pool under the terms of a custody agreement executed by the bank and the Stable
Value Pool. All investment transactions will require a trade ticket or acknowledgment
generated from the trade. A monthly report will be received by the Stable Value Pool
from the custodian listing all securities held in safekeeping with current market data
and other information.

1.

The only exceptions to the foregoing shall be: (i) money market mutual funds (ii) repurchase
agreements, since these securities are not deliverable. Each Participant, by its investment in
the Stable Value Pool, is certifying that it is legally authorized to make such investment.
Participants should consult with their legal counsel and/or advisors regarding the legality of
investment funds in the Stable Value Pool.
7

SHARES; INTERESTS OF PARTICIPANTS

The JPA Agreement provides that the beneficial interests of the Participants in the assets of
the Stable Value Pool and the earnings thereon are divided into “Shares.” “Shares” means the
unit used to denominate and measure the respective pro rata beneficial interests of the
Participants in a Pool within the CalFIT Investment Program, including the Stable Value Pool.
As required by Section 6509.7 of the Act, each Share shall represent an equal proportionate
interest in the Investment Property within a Pool, including the Stable Value Pool. The JPA
Agreement provides that the number of Shares that may be used to measure and represent
the proportionate allocation of beneficial interests among the Participants in a Pool,
including the Stable Value Pool, is unlimited. All Shares in a Pool, including the Stable Value
Pool, shall be of one class representing equal distribution and liquidation, and other rights.
The beneficial interests measured by the Shares shall not entitle a Participant to preference,
preemptive, appraisal, conversion, or exchange rights of any kind with respect to the CalFIT
Investment Program or the Investment Property held in the applicable Pool, including the
Stable Value Pool. Title to the Investment Property held in the applicable Pool, including the
Stable Value Pool, of every description is vested in CalFIT. The Participants shall have no
interest in the Investment Property held in the applicable Pool, including the Stable Value
Pool, other than the beneficial interests conferred hereby and measured by their Shares, and
they shall have no right to call for any partition or division of any property, profits, rights, or
interests of CalFIT.
In its discretion, CalFIT may from time to time allocate Shares in addition to the then
allocated Shares to such Participant for such amount and such type of consideration
(including without limitation income from the investment of Investment Property held in the
applicable Pool, including the Stable Value Pool) at such time(s) (including without limitation
each Business Day in accordance with the maintenance of a constant net asset value per
Shares as set forth in the JPA Agreement for constant net asset value Pools, such as the

7

Information Statement
Stable Value Pool), and on such terms as CalFIT may deem best. In connection with any
allocation of Shares, CalFIT may allocate fractional Shares. From time to time, CalFIT may
adjust the total number of Shares allocated without thereby changing the proportionate
beneficial interests in the Investment Property held in the applicable Pool, including the
Stable Value Pool. Reductions or increases in the number of allocated Shares may be made
in order to maintain a constant net asset value per Share for constant net asset value Pools,
such as the Stable Value Pool. Shares shall be allocated and redeemed as one hundredths
(1/100ths) of a Share or any multiple thereof.
8

INVESTMENT RISKS

Participants should specifically consider the following risks before deciding to purchase
Shares of the Stable Value Pool. The following summary does not purport to be
comprehensive or definitive of all risk factors.
8.1
INTEREST RATE RISKS
The prices of the fixed-income securities in the Stable Value Pool will rise and fall in response
to changes in the interest rates paid by similar securities. Generally, when interest rates rise,
prices of fixed-income securities fall. However, market factors, such as demand for particular
fixed-income securities, may cause the price of certain fixed-income securities to fall while
the price of other securities rise or remain unchanged. Interest rate changes have a greater
effect on the price of fixed-income securities with longer maturities. The Investment Adviser
will seek to manage this risk by purchasing short-term securities.
8.2 CREDIT RISKS
Credit risk is the possibility that an issuer of a fixed-income security held in the Stable Value
Pool will default on the security by failing to pay interest or principal when due. If an issuer
defaults, Participants in the Stable Value Pool will lose money. The Investment Adviser will
seek to manage this risk by purchasing high-quality securities as determined by one or more
Nationally Recognized Statistical Ratings Organizations and/or the Investment Adviser’s
credit research team. The Investment Policy for the Stable Value Pool contains a description
of the minimum credit quality for each category of eligible investment in the Stable Value
Pool.
8.3 STABLE NET ASSET VALUE RISKS
Although the Stable Value Pool is managed to maintain a stable NAV of $1.00 per Share,
there is no guarantee that it will be able to do so.
8.4 INVESTMENT NOT INSURED OR GUARANTEED
An investment in the Stable Value Pool is neither insured nor guaranteed by the Federal
Deposit Insurance Corporation or any other government agency.
9

BOARD

Pursuant to the JPA Agreement, the management of CalFIT is governed by a Board (Board).
The Board supervises CalFIT and its affairs and acts as the liaison between the Participants,
the Custodian, the Administrator, the Investment Adviser and all service providers.

8

Information Statement
The Board approved the Investment Policy for the Stable Value Pool and may approve
amendments to such Investment Policy from time to time. Upon the Board’s approval of any
amendment to the Investment Policy for the Stable Value Pool, the amended Investment
Policy will be posted to the website of CalFIT.
See www.calfitfund.com for a description of the current Trustees and officers of CalFIT.
10

INVESTMENT ADVISER & ADMINISTRATOR

Pursuant to an agreement with CalFIT, Chandler Asset Management, Inc. (“Chandler”) serves
as the Investment Adviser and Administrator for the CalFIT Investment Program.
As Investment Adviser, Chandler provides investment services to CalFIT, including the Stable
Value Pool. Chandler is an investment advisory firm headquartered in San Diego, CA and is
registered with the Securities and Exchange Commission as an investment adviser under the
Investment Advisers Act of 1940.
As Administrator, Chandler services all Participant accounts in the CalFIT Investment
Program, including all Participant accounts in the Stable Value Pool, determines and
allocates income of the CalFIT Investment Program, provides certain written confirmation of
the investment and withdrawal of funds by Participants, provides administrative personnel
and facilities to CalFIT, determines the NAV of the Stable Value Pool on a daily basis, and
performs all related administrative services for CalFIT. At least quarterly, the Administrator
provides the Board with a detailed evaluation of the performance of the CalFIT Investment
Program, including the Stable Value Pool, based upon a number of factors. This evaluation
includes a comparative analysis of the investment results of the CalFIT Investment Program,
including the Stable Value Pool, in relation to industry standards such as the performance of
comparable money market mutual funds and various indexes of money market securities.
11

CUSTODIAN

Pursuant to an agreement with U.S. Bank, U.S. Bank serves as Custodian and depository for
the CalFIT Investment Program.
As Custodian, U.S. Bank acts as directed custodian for the CalFIT Investment Program,
including the Stable Value Pool, and serves, in accordance with California law, as the
depository in connection with the direct investment and withdrawal mechanisms of the
CalFIT Investment Program. The Custodian does not participate in the investment decision
making process of the CalFIT Investment Program.
The Custodian shall hold the Investment Property in its capacity as Custodian on behalf of
CalFIT. Such Investment Property shall be custodial property of the Custodian and shall not
be, or be deemed to be, an asset of the Custodian.
Within fifteen (15) days after the end of each month, the Custodian shall send statements
providing the closing balance in the CalFIT account at the end of such month and the
transactions performed in the account during such month to the Administrator and CalFIT.

9

Information Statement
12

INDEPENDENT AUDITORS

An independent certified public accounting firm has been engaged to audit the annual
financial statements of CalFIT. The audit will contain statements of assets and liabilities, of
operations, and of changes in net assets. The opinion of the independent certified public
accountant on such financial statements is based on an examination of the books and
records of CalFIT made in accordance with generally accepted accounting principles
(“GAAP”). The fiscal year ends each June 30.
13

HOW TO BECOME A PARTICIPANT

See “Eligible Participant” to determine if you are eligible to be a Participant in the CalFIT
Investment Program. Any prospective Participants seeking to purchase Shares in the Stable
Value Pool should review the JPA Agreement and this Information Statement, as well as the
Investment Policy (included in the Information Statement) for the Stable Value Pool, and
then simply complete the CalFIT Registration Packet found on the CalFIT website (located at
www.calfitfund.com). In order to become a Participant in the CalFIT Investment Program,
Participants may apply for CalFIT Member status pursuant to Article 2.1 of the Joint Exercise
of Powers Agreement, or may also become a Participant and invest without becoming a
Member of CalFIT.
There is no limit on the number of subaccounts that can be opened by a Participant. The
Administrator will notify the prospective Participant of its approval of the Registration Forms
and the account number(s) assigned. The Administrator reserves the right to reject any
Registration in its discretion. Investment in the Stable Value Pool may be effectuated
through the CalFIT Participant Portal or by calling 1 844 915-5700. Secure online access will be
available to Participants with respect to their accounts. Information with respect to the
Stable Value Pool, including yield information, up-to-date account information, and a
transaction history will be available online. Confirmations of each subscription (purchase of
Shares) and redemption (sale of Shares and withdrawal of funds) of funds will be available
online to a Participant within one business day of the transaction.
14

PURCHASE OF SHARES; INVESTMENTS

Participants may purchase Shares in the Stable Value Pool by Automated Clearing House
(“ACH”) transfer or wire transfer from the Participant to the Custodian, as described in the
Investment Procedures set forth below. CalFIT does not charge a fee for receipt of wire or
ACH subscriptions. However, a Participant’s bank may charge a fee for ACH or wiring funds.
There is no maximum or minimum amount that must be invested in the Stable Value Pool
nor is there any maximum or minimum limitations on the aggregate amount of the
investment funds that any Participant may have invested at any one time with CalFIT.
14.1
1.

INVESTMENT PROCEDURES
The Participant shall communicate to the Administrator via either the CalFIT
Participant Portal or phone call, indicating the amount to be invested in the Stable
Value Pool and indicating in which account of the Stable Value Pool the investment is
to be made. The Participant shall instruct its bank depository to wire or electronically

10

Information Statement
transfer Investment Funds to the applicable account at the Custodian for the
purchase of investments to be held by the Custodian in such Account.
2. The Administrator shall receive the notice described in (1) from the Participant.
3. Investments received by the Custodian by 11:00 a.m. PT will be used to purchase
Shares in the Stable Value Pool.
4. If Investment Funds for which notification of investment has been given are not
received by the end of the business day on which such notification is given, the
Administrator shall deduct the value of such Investment Funds (including any
earning income) from the Participant's balance if previously credited.
5. In the event that a purchase notification is received, but the corresponding wire or
ACH is not received, the Participant may incur a penalty. This penalty shall be
deducted from the Participant’s account.
6. The Participant is prohibited from requesting payments from amounts credited to its
balance in the Stable Value Pool until such Investment Funds are received by the
Custodian from the Participant.
These Investment Procedures may be amended from time to time pursuant to the JPA
Agreement provided, however, the Administrator will only change the times set forth above
after consulting with the Custodian.
15

REDEMPTION OF SHARES; WITHDRAWALS; TRANSFERS

Redemptions of Shares from the Stable Value Pool may be made via ACH or wire transfer
from the Custodian to the Participant, as described in the Payment Procedures set forth
below. Shares in the Stable Value Pool will be redeemed in the amount of the withdrawal
assuming a NAV of $1.00 per Share.
There is no maximum or minimum amount that must be invested in the Stable Value Pool
nor are there any maximum or minimum limitations on the aggregate amount of the
investment funds that any Participant may have invested at any one time with CalFIT.
Each Participant, by its investment in any Pool, including the Stable Value Pool, agrees that
CalFIT may temporarily suspend the right of redemption or postpone the date of payment
for redeemed Shares for the whole or any part of any period: (i) during which trading in
securities generally on the New York Stock Exchange or over-the-counter market shall have
been suspended or minimum prices or maximum daily charges shall have been established
on such exchange or market; (ii) if a general banking moratorium shall have been declared
by Federal, state, or the State of New York or State of California authorities or during a
suspension of payments by banks in the State of California; (iii) during which there shall have
occurred any state of war or national emergency; (iv) during which any financial emergency
or other crisis the effect of which on the financial markets of the United States is such as to
make it impracticable (a) to dispose of the Investment Property because of the substantial
losses that might be incurred or (b) to determine the Investment Property Value in
accordance with the Valuation Procedures. The Administrator shall determine, on behalf of
CalFIT, when an event occurs to temporarily suspend or postpone a Participant’s right of
redemption. Participants should refer to the JPA Agreement for additional details.
Transfers among the Stable Value Pool and another Pool within the CalFIT Investment
Program will be considered a withdrawal from one Pool and a contribution to another
subject to the requirements described in this Information Statement.

11

Information Statement
15.1

PAYMENT PROCEDURES
The Participant shall communicate to the Administrator via either the CalFIT
Participant Portal or phone call, indicating the amount requested to be redeemed
and shall specify from which account of the Stable Value Pool the payment is to be
debited.
2. The Participant shall notify the Administrator of the amount requested, and include
any wire, electronic transfer, or other payment instructions.
3. The Administrator shall receive the notice described in (1) and the information
required in (2) from the Participant. Requests for redemptions from accounts of the
Stable Value Pool with pre-established wire instructions will be honored on a sameday basis if received by the Administrator prior to 11:00 a.m. PT.
4. The Participant may only request payments of that portion of its balance that
represents Investment Funds and its proportional share of the income from the
Investment Property that, in all cases, is actually held by the Custodian in the
applicable Account in the Stable Value Pool.
1.

These Payment Procedures may be amended from time-to-time pursuant to the JPA
Agreement provided, however, the Administrator will only change the times set forth above
after consulting with the Custodian.
16

PORTFOLIO TRANSACTIONS

Subject to the general supervision of the Board, the Investment Adviser is responsible for
placing the orders for the purchase and sale of securities within the Stable Value Pool,
referred to herein as “portfolio transactions”. The portfolio transactions within the CalFIT
Investment Program, including the Stable Value Pool, occur only with broker-dealers acting
as principals except for commercial paper transactions that may be placed directly with the
issuers. Although CalFIT does not ordinarily seek but nonetheless may make profits through
short-term trading, the Investment Adviser may, on behalf of CalFIT, dispose of any portfolio
investment prior to its maturity if such disposition is advisable. However, since brokerage
commissions are not typically paid on the types of investments in which the Stable Value
Pool is likely to invest, any turnover resulting from such investments should not adversely
affect the NAV of the Stable Value Pool.
The Investment Adviser seeks to obtain the best net price and the most favorable execution
of portfolio transactions. Portfolio transactions will not occur between the Investment Adviser
and Administrator, the Custodian, any Trustee, or any affiliate, officer, director, employee, or
agent of any of them.
17

VALUATION OF STABLE VALUE POOL SHARES

The Administrator determines the NAV of the Shares of the Stable Value Pool at least daily
using the amortized cost method of valuation. This method involves valuing each investment
at cost on the date of purchase and assuming a constant amortization to maturity of any
discount or premium. Amortized cost valuation provides certainty in valuation but may result
in valuations that are higher or lower than the market price of a particular portfolio security.
As a result, the Stable Value Pool has implemented a NAV Monitoring Policy which requires
the portfolio to be additionally priced on a mark-to market basis at least weekly using a thirdparty pricing service. In the event that the net asset value based on market prices falls

12

Information Statement
outside certain tolerance levels ($0.9950 and $1.005), the Stable Value Pool has implemented
procedures for certain additional actions or disclosures.
The NAV per Share of the Stable Value Pool is computed by dividing the total value of the
securities and other assets of the Stable Value Pool, less any liabilities, by the total
outstanding Shares of the Stable Value Pool. Expenses and fees of CalFIT accrue daily and are
included within liabilities for the NAV calculation.
The result of this calculation is a share value rounded to the nearest penny. Accordingly, the
price at which Shares of the Stable Value Pool are sold and redeemed will not reflect
unrealized gains or losses on securities within the Stable Value Pool that amount to less than
$.005 per Share. The Administrator will endeavor to minimize the amount of such gains or
losses. However, if unrealized gains or losses on securities within the Stable Value Pool should
exceed $.005 per Share, the Stable Value Pool’s NAV per Share will change from $1.00 or be
maintained at $1.00 per Share by retention of earnings or the reduction on a pro rata basis of
each Participant’s Shares in the Stable Value Pool in the event of losses or by a pro rata
distribution to each Participant in the event of gains.
While it is a fundamental objective of the Stable Value Pool to maintain a NAV of $1.00 per
Share, there can be no guarantee that the NAV will not deviate from $1.00 per Share. The NAV
per Share of the Stable Value Pool may be affected by general changes in interest rates
resulting in increases or decreases in the value of the securities in the Stable Value Pool. The
fair market value of the Stable Value Pool’s securities will vary inversely to changes in
prevailing interest rates. If a security is held to maturity, no loss or gain is normally realized as
a result of these fluctuations.
17.1 COMPUTATION OF YIELDS
A daily and seven-day average yield for the Stable Value Pool are calculated by the
Administrator. To obtain the daily yield, a daily income distribution per share factor is first
calculated. That factor is the net income for that day divided by the number of settled shares
outstanding. The factor is then multiplied by 365 (366 in a leap year) to produce the daily
yield. The seven-day average yield is obtained by averaging the daily yield for seven
identified, consecutive days. From time-to-time, the Administrator may also quote the yield
for the Stable Value Pool on other basis for the information of the Participants.
Participants should note that the yields quoted should not be considered a representation of
the future yield of the Stable Value Pool since the yield is not fixed. Actual yields for the Stable
Value Pool will depend not only on the type, quality, and maturities of the investments held
by the Stable Value Pool and the changes in interest rates for such investments but also on
changes in the Stable Value Pool’s expenses during the period.
Yield information may be useful in reviewing the performance of the Stable Value Pool and
for providing a basis for comparison with other investment alternatives.
18

INCOME ALLOCATIONS

All net income of the Stable Value Pool is determined as of the close of business each day
(and at such other times as the Board may determine) and is credited pro rata to each
Participant’s Account within the Stable Value Pool at month-end. The Stable Value Pool
accrues net income on a daily basis and pays interest income on a monthly basis.

13

Information Statement
Net income that has thus accrued to the Participants is converted as of the close of business
at month-end into additional Shares that are thereafter held in each Participant’s account.
Reinvested net income is converted into full and fractional shares at the rate of one share for
each one dollar credited. Net income for the Stable Value Pool consists of (1) all accrued
interest income on assets of the Stable Value Pool plus (2) accretion of discount, less (3)
amortization of premium and less (4) accrued expenses.
19

RETAINED RESERVES

Pursuant to the JPA Agreement, the Investment Adviser may retain from earnings and
profits in the CalFIT Investment Program, including the Stable Value Pool, amounts deemed
necessary to pay the debts and expenses of CalFIT, as well as to meet other obligations of
CalFIT. The Investment Adviser possesses the power to establish from earnings and profits
such reasonable reserves as they believe may be necessary or desirable. Realized capital
gains or losses shall be distributed in a timely and equitable manner as determined by the
Investment Adviser. More information about retained reserves is available in the JPA
Agreement, including the detailed accounting that the Investment Adviser provides to the
Board on a quarterly basis on amounts deemed necessary or desirable by the Investment
Adviser for retained reserves.
20 CALFIT EXPENSES
Pursuant to the JPA Agreement, Chandler, as Administrator, for the CalFIT Investment
Program, including the Stable Value Pool, shall pay Pool expenses as described below in
“Expense Payments”. The Pool Expenses shall be an Investment Property liability. On behalf
of CalFIT, the Administrator shall pay the following costs and expenses: the Investment
Adviser’s and Administrator’s fee set forth in the Administrator and Investment Adviser
Services Agreement (Chandler Agreement), the Custodian’s fee set forth in the Custody
Agreement, marketing expenses, the cost of valuing the Investment Property, the cost of
obtaining a rating or ratings, if any, the cost of other expenses agreed to by Chandler and
CalFIT, all Investment Property record-keeping expenses, the cost of preparing monthly and
annual reports, the expense of outside auditors required pursuant to the Chandler
Agreement, the fees of the counsel to CalFIT, the cost of meetings of the Board, insurance
costs and the costs of Participant surveys and mailings and other expenses as approved by
the Board. Periodically, Chandler shall provide a detailed accounting of such expenses to the
Trustees.
20.1 EXPENSE PAYMENTS
For the performance of its obligations as Administrator in the Chandler Agreement, the
Administrator will charge a fee for all Pool expenses from the Investment Property Value (the
daily fee). This fee will accrue on a daily basis and be paid monthly in arrears and prorated for
any portion of the month in which the Chandler Agreement is in effect. The daily fee shall be
calculated as follows: the Investment Property Value is multiplied by the applicable fee rate
and is divided by 365 or 366 days in the event of a leap year to equal the daily fee accrual. The
Investment Property Value shall be based on the prior day’s net assets. For weekend days
and holidays, the net assets for the previous business day will be utilized for the calculation of
fees. The applicable expense shall be determined by the Administrator monthly on the first
business day of each month and shall be at an annual rate not to exceed twenty (20) basis

14

Information Statement
points. The Administrator is authorized to debit the applicable monthly expense payment
within five (5) business days after the end of such month. All payment records and invoices
will be presented at each subsequent meeting of the Board. Fees may be waived or abated
at any time, or from time-to-time, at the sole discretion of the Administrator. Any such
waived fees may be restored by the written agreement of CalFIT.
21

REPORTS TO PARTICIPANTS

Annually – Audited financial statements of CalFIT will be provided annually. See
“Independent Auditors” above.
Monthly – Within 15 days after the end of each month, the Administrator shall prepare and
submit, or make available, to each Participant a statement disclosing any activity and a
closing balance, including the number of Shares, in each of its accounts for such month.
Upon Request – The Administrator, upon the request of a Participant, shall furnish to the
Participant a statement of such Participant’s balance as of the date of such request subject
only to account activity on such date.

15

Agenda Item: 8A
Date: March 4, 2026
TO: THE BOARD OF DIRECTORS
Laura Roughton, President
Fauzia Rizvi, Vice President
Brenda Dennstedt, Secretary/Treasurer
Gracie Torres
Mike Gardner
FROM: Craig D. Miller, P.E., General Manager

RECEIVE AND FILE THE INVESTMENT REPORT FOR THE PERIOD ENDED
DECEMBER 31, 2025
RECOMMENDATION:
Staff recommend the Board of Directors:
1. Receive and file the Investment Report for the period ended December 31, 2025.
EXECUTIVE SUMMARY:
A representative from Chandler Asset Management, Western Municipal Water District’s
Investment Manager, will present an investment report for the period ended December
31, 2025. The report will provide information on the District’s portfolio and on the retiree
medical benefit’s Voluntary Employees’ Beneficiary Association Trust portfolio.
BUDGET IMPACT:
This item has no budget impact.
DETAIL:
Chandler Asset Management (Chandler) provides investment management services for
Western Municipal Water District (Western Water). Each month, the Board of Directors
receives an investment report in the Board agenda packet, and a more extensive report

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Western Water | Regular Board Meeting
March 4, 2026
Agenda Item: 8A
each quarter. In addition, Chandler gives a presentation to the Board of Directors on the
portfolio’s performance on an annual basis, and to the Finance Committee on a quarterly
basis. Both Western Water’s and the Voluntary Employees’ Beneficiary Association
(VEBA) Trust’s investment reports are available on Western Water’s website at
WesternWaterCA.Gov and can be reviewed by clicking the following path link: About Us
– Departments – Finance – Investment Report.
REASON FOR ACTION:
Information regarding the investment portfolio helps to provide education and
transparency of Western Water’s and the VEBA Trust’s financial health.
SOLUTION:
Receive and file the investment report for the period ended December 31, 2025.
STRATEGIC PRIORITIES REFERENCE:
This action is in alignment with Western Water’s Strategic Priority of Financial
Stewardship.
LEGAL COUNSEL REVIEW:
Staff has determined that legal review of this item is not required.
Respectfully submitted by:
Craig D. Miller, P.E., General Manager

Attachments:
1. Investment Presentation
2. Western Water Investment Report
3. VEBA Trust Investment Report

Western Water | 14205 Meridian Parkway, Riverside | 951.571.7100 | WesternWaterCA.gov

Attachment 1

INVESTMENT REPORT
Western Municipal Water District | 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.

TABLE OF CONTENTS
ECONOMIC UPDATE
ACCOUNT PROFILE

1

ECONOMIC UPDATE

2

EMPLOYMENT

Unemployment Rate

Nonfarm Payroll (000's)
15.0%

800

Non-farm Payroll (000's)

Underemployment Rate (U6)

3-month average (000's)

Unemployment Rate (U3)
11.0%

600
Rate (%)

MOM Change In Thousands (000's)

1,000

400

200
0

7.0%

3.0%

-200

-1.0%

-400

Source: US Department of Labor

Source: US Department of Labor

The December Nonfarm Payrolls report showed weaker-than-expected job growth, with payrolls rising by 50,000 compared with the
consensus estimate of 70,000. This follows a downwardly revised gain of 56,000 in November. Employment declines were most
pronounced in retail trade and construction, while leisure and hospitality posted the strongest gains. Notably, the unemployment rate
edged down to 4.4% after increasing to 4.6% in November.

3

INFLATION
Consumer Price Index (CPI)
10.0%

Personal Consumption Expenditures (PCE)
8.0%

CPI YOY % Change
Core CPI YOY % Change

9.0%
8.0%

7.0%
6.0%
YOY (%) Change

7.0%
YOY (%) Change

PCE Price Deflator
YOY % Change
PCE Core Deflator
YOY % Change
Fed Target

6.0%
5.0%

4.0%
3.0%

5.0%
4.0%
3.0%

2.0%

2.0%
1.0%

1.0%

0.0%

0.0%

Source: US Department of Labor

Source: US Department of Commerce

The Consumer Price Index (CPI) showed that inflation remained relatively subdued in December, with headline CPI and core CPI holding at
2.7% and 2.6% respectively year-over-year. Shelter has continued to play a central but gradually moderating role in services inflation.
December data keeps inflation close to the prior month’s pace and consistent with a trend of easing price pressures. 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.

4

FEDERAL RESERVE

Federal Reserve Balance Sheet Assets

Effective Federal Funds Rate
6.00%

10,000,000
9,000,000

Recession

Recession

5.00%

8,000,000

4.00%

6,000,000

Yield (%)

In $ millions

7,000,000

5,000,000
4,000,000

3.00%
2.00%

3,000,000
2,000,000

1.00%

1,000,000
0

0.00%

Source: Federal Reserve

Source: Bloomberg

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.

5

BOND YIELDS

US Treasury Yield Curve

US Treasury Note Yields
6.0%

6.0%
5.0%

2-Year
5-Year
10-Year

5.0%
4.0%
Yield (%)

Yield (%)

4.0%

3.0%
2.0%

3.0%
2.0%

1.0%

Dec-25
Sep-25
Dec-24

1.0%

0.0%

0.0%

Source: Bloomberg

Source: Bloomberg

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.

6

ACCOUNT PROFILE

7

STATEMENT OF COMPLIANCE
Western Municipal Water District | Account #250 | As of December 31, 2025
Limit

Actual

Compliance
Status

Max % (MV)

100.0

17.0

Compliant

Max % Issuer (MV)

25.0

17.0

Compliant

Max Maturity (Years)

10.0

6.9

Compliant

Max % (MV; Non Agency ABS & MBS)

20.0

2.7

Compliant

Max % Issuer (MV)

5.0

0.7

Compliant

Max Maturity (Years)

5

3

Compliant

Min Rating (AA- by 1)

0.0

0.0

Compliant

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

Max % (MV)

30.0

0.0

Compliant

Max Maturity (Years)

5.0

0.0

Compliant

Max % (MV)

20.0

0.0

Compliant

Max % Issuer (MV)

5.0

0.0

Compliant

Max Maturity (Years)

5.0

0.0

Compliant

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

30.0

26.5

Compliant

Rules Name

Notes

AGENCY MORTGAGE SECURITIES

ASSET-BACKED SECURITIES (ABS)

BANKERS' ACCEPTANCES

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE
(CDARS)

COLLATERALIZED TIME DEPOSITS (NONNEGOTIABLE CD/TD)

COMMERCIAL PAPER

CORPORATE MEDIUM TERM NOTES
Max % (MV)

8

STATEMENT OF COMPLIANCE
Western Municipal Water District | Account #250 | As of December 31, 2025
Rules Name

Limit

Actual

Compliance
Status

Max % Issuer (MV)

5.0

1.6

Compliant

Max Maturity (Years)

5

4

Compliant

Min Rating (A- by 1)

0.0

0.0

Compliant

Max % (MV)

20.0

0.0

Compliant

Max Amount Issuer

250,000.0

0.0

Compliant

Max Maturity (Years)

5

0.0

Compliant

Max % (MV)

100.0

10.2

Compliant

Max % Issuer (MV)

25.0

6.0

Compliant

Max Maturity (Years)

10

5

Compliant

75.0

0.0

Compliant

Max % (MV)

20.0

0.4

Compliant

Min Rating (AAA by 2)

0.0

0.0

Compliant

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

Max % (MV)

30.0

2.3

Compliant

Max % Issuer (MV)

5.0

2.3

Compliant

Max Maturity (Years)

10

6

Compliant

Min Rating (A- by 1)

0.0

0.0

Compliant

Max % (MV)

30.0

2.1

Compliant

Max % Issuer (MV)

5.0

0.9

Compliant

Notes

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)

FEDERAL AGENCIES

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV)
MONEY MARKET MUTUAL FUNDS

MORTGAGE-BACKED SECURITIES (NON-AGENCY)

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)

MUNICIPAL SECURITIES (CA, OTHER STATES)

9

STATEMENT OF COMPLIANCE
Western Municipal Water District | Account #250 | As of December 31, 2025
Rules Name

Limit

Actual

Compliance
Status

Max Maturity (Years)

10

6

Compliant

Min Rating (A- by 1)

0.0

0.0

Compliant

Max % (MV)

10.0

0.0

Compliant

Max % Issuer (MV)

10.0

0.0

Compliant

Min Rating (AAA by 2)

0.0

0.0

Compliant

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

Max % Issuer (MV)

5.0

0.0

Compliant

Max Maturity (Days)

90.0

0.0

Compliant

Max % (MV)

30.0

1.5

Compliant

Max % Issuer (MV)

10.0

1.5

Compliant

Max Maturity (Years)

5

0.0

Compliant

Min Rating (AA- by 1)

0.0

0.0

Compliant

Max % (MV)

100.0

37.4

Compliant

Max Maturity (Years)

10

7

Compliant

Notes

MUTUAL FUNDS

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)

REPURCHASE AGREEMENTS

SUPRANATIONAL OBLIGATIONS

U.S. TREASURIES

10

PORTFOLIO CHARACTERISTICS
Western Municipal Water District | Account #250 | As of December 31, 2025
Benchmark*

12/31/2025
Portfolio

9/30/2025
Portfolio

Average Maturity (yrs)

3.85

4.03

4.09

Average Modified Duration

3.45

3.48

3.52

3.45%

3.43%

Average Purchase Yield
Average Market Yield

3.66%

3.88%

3.94%

Average Quality**

AA+

AA+

AA+

285,687,817

282,474,182

Total Market Value

*Benchmark: ICE BofA 1-10 Year Unsubordinated US Treasury & Agency Index
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

11

HISTORICAL AVERAGE PURCHASE YIELD
Western Municipal Water District | Account #250 | As of December 31, 2025
Purchase Yield as of 12/31/25 = 3.45%

12

SECTOR DISTRIBUTION
Western Municipal Water District | Account #250 | As of December 31, 2025

Sector as a Percentage of Market Value
Sector

12/31/2025

09/30/2025

US Treasury

37.41%

37.33%

Corporate

26.55%

26.60%

Agency CMBS

17.00%

17.08%

Agency

10.18%

10.39%

Muni Bonds

4.33%

3.80%

ABS

2.66%

3.00%

Supras

1.46%

1.46%

Money Mkt Fd

0.41%

0.33%

13

ISSUERS
Western Municipal Water District | Account #250 | As of December 31, 2025
Issuer

Investment Type

United States

US Treasury

% Portfolio
37.41%

FHLMC

Agency CMBS

17.00%

Federal Home Loan Banks

Agency

5.99%

FNMA

Agency

2.39%

State of California

Muni Bonds

2.25%

The Home Depot, Inc.

Corporate

1.60%

Guardian Life Global Funding

Corporate

1.59%

Inter-American Development Bank

Supras

1.46%

Amazon.com, Inc.

Corporate

1.12%

New York Life Insurance Company

Corporate

1.09%

Metropolitan Life Global Funding I

Corporate

1.06%

Bank of America Corporation

Corporate

1.02%

Simon Property Group, Inc.

Corporate

0.98%

Pricoa Global Funding I

Corporate

0.97%

Farm Credit System

Agency

0.92%

Caterpillar Inc.

Corporate

0.91%

Morgan Stanley

Corporate

0.90%

Commonwealth of Massachusetts

Muni Bonds

0.90%

Deere & Company

Corporate

0.90%

PACCAR Inc

Corporate

0.88%

State of Tennessee

Agency

0.87%

PepsiCo, Inc.

Corporate

0.86%

The Progressive Corporation

Corporate

0.85%

Chubb Limited

Corporate

0.83%

Northwestern Mutual Global Funding

Corporate

0.83%

Toyota Motor Corporation

Corporate

0.79%

The Goldman Sachs Group, Inc.

Corporate

0.78%

American Express Credit Master Trust

ABS

0.74%

Pfizer Inc.

Corporate

0.74%

Florida Power & Light

Corporate

0.73%

14

ISSUERS
Western Municipal Water District | Account #250 | As of December 31, 2025
Issuer

Investment Type

National Rural Utilities Cooperative

Corporate

0.73%

Marsh & McLennan Companies, Inc.

Corporate

0.72%

The Charles Schwab Corporation

Corporate

0.72%

Berkshire Hathaway Inc.

Corporate

0.72%

Duke Energy Corporation

Corporate

0.70%

Eli Lilly and Company

Corporate

0.64%

State of Georgia

Muni Bonds

0.62%

John Deere Owner Trust

ABS

0.60%

The Toronto-Dominion Bank

Corporate

0.57%

Texas Public Finance Authority

Muni Bonds

0.55%

American Honda Finance Corporation

Corporate

0.54%

Hyundai Auto Receivables Trust

ABS

0.53%

Cargill, Incorporated

Corporate

0.53%

Massachusetts Mutual Life Insurance

Corporate

0.52%

Bank of America Credit Card Trust

ABS

0.47%

Met Tower Global Funding

Corporate

0.41%

First American Govt Oblig Fund

Money Mkt Fd

0.41%

Prologis, Inc.

Corporate

0.35%

GM Financial Automobile Leasing Trus

ABS

0.32%

Cash

Cash

0.00%

TOTAL

% Portfolio

100.00%

15

INVESTMENT PERFORMANCE
Western Municipal Water District | Account #250 | As of December 31, 2025
Total and Realized Rate of Return : Inception | 09/01/2001
8.00%
7.00%
6.00%
5.00%
4.00%
3.00%
2.00%

1.00%
0.00%
3 months

12 months

2 years
WMWD

3 years

Benchmark

5 years

10 years

Since Inception

WMWD Realized Return

3 Months

12 Months

2 Years

3 Years

5 Years

10 Years

Since Inception

1.14%

6.86%

5.03%

4.92%

1.05%

2.13%

3.37%

1.09%

6.38%

4.45%

4.37%

0.67%

1.76%

2.92%

0.89%

3.10%

2.71%

TOTAL RATE OF RETURN
WMWD

Benchmark
REALIZED RATE OF RETURN
WMWD

*Periods over 1 year are annualized.
Benchmark: ICE BofA 1-10 Year Unsubordinated US Treasury & Agency Index
Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized
and unrealized gains and losses in the portfolio. Realized rate of return: A measure of a portfolio’s return over time. It is the internal rate which equates the beginning book value of the portfolio with the ending book value;
it includes interest earnings, realized gains and losses in the portfolio.

16

INVESTMENT REPORT
Western Municipal Water District VEBA Account | 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.

17

STATEMENT OF COMPLIANCE
Western Municipal Water District VEBA Account | Account #254 | As of December 31, 2025
Limit

Actual

Compliance
Status

Max % (MV)

10.0

0.5

Compliant

Min % (MV)

0.0

0.5

Compliant

Max % (MV)

25.0

0.6

Compliant

Min % (MV)

0.0

0.6

Compliant

Max % (MV)

75.0

37.6

Compliant

Min % (MV)

15.0

37.6

Compliant

Max % (MV)

75.0

39.3

Compliant

Min % (MV)

20.0

39.3

Compliant

Max % (MV)

75.0

37.6

Compliant

Min % (MV)

25.0

37.6

Compliant

Max % (MV)

35.0

1.7

Compliant

Min % (MV)

0.0

1.7

Compliant

Max % (MV)

50.0

14.0

Compliant

Min % (MV)

5.0

14.0

Compliant

Max % (MV)

10.0

1.7

Compliant

Min % (MV)

0.0

1.7

Compliant

Max % (MV)

25.0

4.7

Compliant

Min % (MV)

0.0

4.7

Compliant

Rules Name

Notes

CASH EQUIVALENTS

COMMODITIES

DOMESTIC BONDS

DOMESTIC EQUITIES

FIXED INCOME

INTERNATIONAL BONDS

INTERNATIONAL EQUITIES

INTERNATIONAL REAL ESTATE

US REAL ESTATE

18

CHANGE IN PORTFOLIO HOLDINGS DETAIL
Western Municipal Water District VEBA Account | Account #254 | As of December 31, 2025
December 31, 2025

September 30, 2025

Change

Market Value

% Held

Market Value

% Held

Market Value

% Held

Core Bonds

7,962,525.00

30.87%

7,994,775.00

31.30%

(32,250.00)

(0.43)

Intl Bonds

434,880.00

1.69%

445,140.00

1.74%

(10,260.00)

(0.06)

US Bonds

1,730,338.00

6.71%

1,744,222.00

6.83%

(13,884.00)

(0.12)

Total Bonds

10,127,743.00

39.26%

10,184,137.00

39.87%

(56,394.00)

(0.61)

117,890.52

0.46%

110,909.66

0.43%

6,980.86

0.02%

383.09

0.00%

6,078.98

0.02%

(5,695.89)

(0.02)

118,273.61

0.46%

116,988.64

0.46%

1,284.97

0.00%

Commodities

153,118.40

0.59%

152,520.80

0.60%

597.60

(0.00)

Total Commodities

153,118.40

0.59%

152,520.80

0.60%

597.60

(0.00)

844,032.00

3.27%

850,626.00

3.33%

(6,594.00)

(0.06)

Small Cap

1,806,939.75

7.00%

1,781,231.40

6.97%

25,708.35

0.03%

Intl Equity

2,766,796.30

10.73%

2,653,856.80

10.39%

112,939.50

0.34%

Large Cap

4,958,965.60

19.22%

4,845,732.00

18.97%

113,233.60

0.25%

Mid Cap

3,366,000.00

13.05%

3,328,260.00

13.03%

37,740.00

0.02%

Total Equity

13,742,733.65

53.28%

13,459,706.20

52.69%

283,027.45

0.58%

449,919.60

1.74%

387,648.80

1.52%

62,270.80

0.23%

1,203,464.00

4.67%

1,243,312.00

4.87%

(39,848.00)

(0.20)

Total Real Estate (REIT)

1,653,383.60

6.41%

1,630,960.80

6.38%

22,422.80

0.02%

TOTAL PORTFOLIO

25,795,252.26

100.00%

25,544,313.44

100.00%

250,938.82

(0.00)

BONDS

CASH

Money Mkt Fd
Cash

Total Cash
COMMODITIES

EQUITY
Emrging Mkts

REAL ESTATE (REIT)
Intl RE
Real Estate

19

INVESTMENT PERFORMANCE
Western Municipal Water District VEBA Account | Account #254 | As of December 31, 2025
Total Rate of Return : Inception | 12/01/2009

TOTAL RATE OF RETURN*
WMWD VEBA Account
Benchmark

3 Months

12 Months

2 Years

3 Years

5 Years

10 Years

Since Inception

1.79%

12.43%

10.85%

11.79%

6.02%

7.76%

7.53%

2.59%

17.33%

13.62%

14.34%

7.46%

8.43%

8.09%

*Periods over 1 year are annualized.
Benchmark: 40% ICE BofA US Corporate, Government and Mortgage Index, 35% S&P 500 Index and 25% MSCI EAFE
Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized
and unrealized gains and losses in the portfolio.

20

Attachment 2

INVESTMENT REPORT
Western Municipal Water District | 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.

TABLE OF CONTENTS
ECONOMIC UPDATE
ACCOUNT PROFILE

CONSOLIDATED INFORMATION
PORTFOLIO HOLDINGS
TRANSACTIONS

1

ECONOMIC UPDATE

2

ECONOMIC UPDATE

▪

▪

▪

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

The Federal Reserve's December Federal Open Market Committee meeting concluded with the third consecutive 25-basis-point rate cut in
2025, lowering the target range to 3.50%–3.75%. However, policymakers remain divided on the path forward. Four Fed governors project
one additional 25-basis-point cut in 2026, another four anticipate no 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 10year 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.

3

EMPLOYMENT

Unemployment Rate

Nonfarm Payroll (000's)
15.0%

800

Non-farm Payroll (000's)

Underemployment Rate (U6)

3-month average (000's)

Unemployment Rate (U3)
11.0%

600
Rate (%)

MOM Change In Thousands (000's)

1,000

400

200
0

7.0%

3.0%

-200

-1.0%

-400

Source: US Department of Labor

Source: US Department of Labor

The December Nonfarm Payrolls report showed weaker-than-expected job growth, with payrolls rising by 50,000 compared with the
consensus estimate of 70,000. This follows a downwardly revised gain of 56,000 in November. Employment declines were most
pronounced in retail trade and construction, while leisure and hospitality posted the strongest gains. Notably, the unemployment rate
edged down to 4.4% after increasing to 4.6% in November.

4

JOB OPENINGS & LABOR TURNOVER SURVEY
Job Openings
14,000
Recession
12,000

Historical Average

In Thousands (000's)

10,000
8,000
6,000
4,000
2,000
0

Source: US Department of Labor

The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) reported that job openings fell to 7.1 million in November from a
downwardly revised 7.4 million in October. The drop in vacancies, alongside slower hiring, suggests the labor market continues to soften,
though employers remain cautious about laying off workers. The number of openings now roughly matches the number of unemployed
individuals, pointing to a labor market that is approaching equilibrium.

5

INFLATION
Consumer Price Index (CPI)
10.0%

Personal Consumption Expenditures (PCE)
8.0%

CPI YOY % Change
Core CPI YOY % Change

9.0%
8.0%

7.0%
6.0%
YOY (%) Change

7.0%
YOY (%) Change

PCE Price Deflator
YOY % Change
PCE Core Deflator
YOY % Change
Fed Target

6.0%
5.0%

4.0%
3.0%

5.0%
4.0%
3.0%

2.0%

2.0%
1.0%

1.0%

0.0%

0.0%

Source: US Department of Labor

Source: US Department of Commerce

The Consumer Price Index (CPI) showed that inflation remained relatively subdued in December, with headline CPI and core CPI holding at
2.7% and 2.6% respectively year-over-year. Shelter has continued to play a central but gradually moderating role in services inflation.
December data keeps inflation close to the prior month’s pace and consistent with a trend of easing price pressures. 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.

6

CONSUMER

Consumer Confidence

Retail Sales YOY % Change
60.0%

160
140

50.0%

Recession

Index Level

YOY (%) Change

120
40.0%
30.0%
20.0%

100
80
60
40

10.0%

20
0

0.0%

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)

November Retail Sales rose 0.6% from October and 3.3% from a year earlier, while the control group measure which feeds into GDP rose a
solid 0.4% on the month after an even stronger 0.8% gain in October. This confirms that underlying goods spending excluding the most
volatile categories remained resilient into the start of the holiday season. 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.

7

LEADING INDICATORS OF ECONOMIC ACTIVITY

Chicago Fed National Activity Index (CFNAI)

15.0%

1.00

10.0%

0.75

5.0%

0.50
3 Month Average

YOY (%) Change

Leading Economic Indicators (LEI)

0.0%

-5.0%
-10.0%

0.25
0.00

-0.25
-0.50

-15.0%
-20.0%

Recession

Recession

-0.75

-1.00

-25.0%

Source: The Conference Board

Source: Federal Reserve Bank of Chicago

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.

8

HOUSING

S&P/Case-Shiller 20 City Composite Home Price Index

2,400
2,200
2,000
1,800
1,600
1,400
1,200
1,000
800
600
400
200
0

Multi Family Housing Starts
Single Family Housing Starts

YOY (%) Change

In Thousands of Units

Annualized Housing Starts

Source: US Department of Commerce

24.0%
20.0%
16.0%
12.0%
8.0%
4.0%
0.0%
-4.0%
-8.0%
-12.0%
-16.0%
-20.0%

Recession

Source: S&P

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. Housing starts declined in October to an
annualized rate of 1.25 million units, down from 1.29 million in September. Existing home sales inched higher in November to a 4.13
million-unit pace, indicating only modest improvement despite some relief in mortgage rates. The Freddie Mac 30‑year fixed mortgage
rate fell throughout 2025 and averaged 6.18% at the end of December.

9

SURVEY BASED MEASURES
Institute of Supply Management (ISM) Surveys
70
ISM Manufacturing

ISM Services

65
60
55
50

EXPANDING
CONTRACTING

45
40

Source: Institute for Supply Management

The Institute for Supply Management’s (ISM) manufacturing index slipped to 47.9 in December, down from 48.2 in November, marking
continued weakness across the sector. Manufacturing activity has now been in contraction for 36 of the past 38 months, as readings
below 50 indicate contraction and those above 50 signal expansion. The latest decline was driven primarily by pullbacks in the Production
and Inventories components. In contrast, the ISM services index remained in expansion territory, rising to 54.4 in December from 52.6 in
November. Respondents attributed the improvement to seasonal strength, though many remained cautious about the potential impact of
tariffs.

10

GROSS DOMESTIC PRODUCT (GDP)

Gross Domestic Product (GDP)
Components of GDP

12/24

3/25

6/25

9/25

Personal Consumption Expenditures

2.6%

0.4%

1.7%

2.4%

Gross Private Domestic Investment

-1.3%

3.8%

-2.7%

0.0%

Net Exports and Imports

-0.1%

-4.7%

4.8%

1.6%

Federal Government Expenditures

0.3%

-0.4%

-0.4%

0.2%

GDP QOQ % Change
GDP YOY % Change

30.0%
20.0%
10.0%
0.0%

State and Local (Consumption and Gross
Investment)

0.3%

Total

1.9%

Source: US Department of Commerce

40.0%

0.2%

0.3%

0.2%

-10.0%
-0.6%

3.8%

4.3%

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,
while exports contributed 1.6 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. The consensus projection calls for 1.1% growth in the fourth
quarter and 2.0% growth for the full year 2025.

11

FEDERAL RESERVE

Federal Reserve Balance Sheet Assets

Effective Federal Funds Rate
6.00%

10,000,000
9,000,000

Recession

Recession

5.00%

8,000,000

4.00%

6,000,000

Yield (%)

In $ millions

7,000,000

5,000,000
4,000,000

3.00%
2.00%

3,000,000
2,000,000

1.00%

1,000,000
0

0.00%

Source: Federal Reserve

Source: Bloomberg

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.

12

BOND YIELDS

US Treasury Yield Curve

US Treasury Note Yields
6.0%

6.0%
5.0%

2-Year
5-Year
10-Year

5.0%
4.0%
Yield (%)

Yield (%)

4.0%

3.0%
2.0%

3.0%
2.0%

1.0%

Dec-25
Sep-25
Dec-24

1.0%

0.0%

0.0%

Source: Bloomberg

Source: Bloomberg

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.

13

ACCOUNT PROFILE

14

OBJECTIVES

Investment Objectives
The Western Municipal Water District's investment objectives, 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.
The District funds its liquidity needs from sources other than this portfolio.
Chandler Asset Management Performance Objective
Our performance objective for the Western Municipal Water District is to achieve a return
greater than the return of the ICE BofA 1-10 Year Treasury and Agency Index over a market
cycle.
Strategy
In order to achieve these objectives, the portfolio invests in high quality fixed income securities
consistent with the investment policy and California Government Code.

15

STATEMENT OF COMPLIANCE
Western Municipal Water District | Account #250 | As of December 31, 2025
Limit

Actual

Compliance
Status

Max % (MV)

100.0

17.0

Compliant

Max % Issuer (MV)

25.0

17.0

Compliant

Max Maturity (Years)

10.0

6.9

Compliant

Max % (MV; Non Agency ABS & MBS)

20.0

2.7

Compliant

Max % Issuer (MV)

5.0

0.7

Compliant

Max Maturity (Years)

5

3

Compliant

Min Rating (AA- by 1)

0.0

0.0

Compliant

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

Max % (MV)

30.0

0.0

Compliant

Max Maturity (Years)

5.0

0.0

Compliant

Max % (MV)

20.0

0.0

Compliant

Max % Issuer (MV)

5.0

0.0

Compliant

Max Maturity (Years)

5.0

0.0

Compliant

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

30.0

26.5

Compliant

Rules Name

Notes

AGENCY MORTGAGE SECURITIES

ASSET-BACKED SECURITIES (ABS)

BANKERS' ACCEPTANCES

CERTIFICATE OF DEPOSIT PLACEMENT SERVICE
(CDARS)

COLLATERALIZED TIME DEPOSITS (NONNEGOTIABLE CD/TD)

COMMERCIAL PAPER

CORPORATE MEDIUM TERM NOTES
Max % (MV)

16

STATEMENT OF COMPLIANCE
Western Municipal Water District | Account #250 | As of December 31, 2025
Rules Name

Limit

Actual

Compliance
Status

Max % Issuer (MV)

5.0

1.6

Compliant

Max Maturity (Years)

5

4

Compliant

Min Rating (A- by 1)

0.0

0.0

Compliant

Max % (MV)

20.0

0.0

Compliant

Max Amount Issuer

250,000.0

0.0

Compliant

Max Maturity (Years)

5

0.0

Compliant

Max % (MV)

100.0

10.2

Compliant

Max % Issuer (MV)

25.0

6.0

Compliant

Max Maturity (Years)

10

5

Compliant

75.0

0.0

Compliant

Max % (MV)

20.0

0.4

Compliant

Min Rating (AAA by 2)

0.0

0.0

Compliant

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

Max % (MV)

30.0

2.3

Compliant

Max % Issuer (MV)

5.0

2.3

Compliant

Max Maturity (Years)

10

6

Compliant

Min Rating (A- by 1)

0.0

0.0

Compliant

Max % (MV)

30.0

2.1

Compliant

Max % Issuer (MV)

5.0

0.9

Compliant

Notes

FDIC INSURED TIME DEPOSITS (NON-NEGOTIABLE
CD/TD)

FEDERAL AGENCIES

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV)
MONEY MARKET MUTUAL FUNDS

MORTGAGE-BACKED SECURITIES (NON-AGENCY)

MUNICIPAL SECURITIES (CA, LOCAL AGENCY)

MUNICIPAL SECURITIES (CA, OTHER STATES)

17

STATEMENT OF COMPLIANCE
Western Municipal Water District | Account #250 | As of December 31, 2025
Rules Name

Limit

Actual

Compliance
Status

Max Maturity (Years)

10

6

Compliant

Min Rating (A- by 1)

0.0

0.0

Compliant

Max % (MV)

10.0

0.0

Compliant

Max % Issuer (MV)

10.0

0.0

Compliant

Min Rating (AAA by 2)

0.0

0.0

Compliant

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

Max % Issuer (MV)

5.0

0.0

Compliant

Max Maturity (Days)

90.0

0.0

Compliant

Max % (MV)

30.0

1.5

Compliant

Max % Issuer (MV)

10.0

1.5

Compliant

Max Maturity (Years)

5

0.0

Compliant

Min Rating (AA- by 1)

0.0

0.0

Compliant

Max % (MV)

100.0

37.4

Compliant

Max Maturity (Years)

10

7

Compliant

Notes

MUTUAL FUNDS

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)

REPURCHASE AGREEMENTS

SUPRANATIONAL OBLIGATIONS

U.S. TREASURIES

18

PORTFOLIO CHARACTERISTICS
Western Municipal Water District | Account #250 | As of December 31, 2025
Benchmark*

12/31/2025
Portfolio

9/30/2025
Portfolio

Average Maturity (yrs)

3.85

4.03

4.09

Average Modified Duration

3.45

3.48

3.52

3.45%

3.43%

Average Purchase Yield
Average Market Yield

3.66%

3.88%

3.94%

Average Quality**

AA+

AA+

AA+

285,687,817

282,474,182

Total Market Value

*Benchmark: ICE BofA 1-10 Year Unsubordinated US Treasury & Agency Index
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

19

HISTORICAL AVERAGE PURCHASE YIELD
Western Municipal Water District | Account #250 | As of December 31, 2025
Purchase Yield as of 12/31/25 = 3.45%

20

SECTOR DISTRIBUTION
Western Municipal Water District | Account #250 | As of December 31, 2025

Sector as a Percentage of Market Value
Sector

12/31/2025

09/30/2025

US Treasury

37.41%

37.33%

Corporate

26.55%

26.60%

Agency CMBS

17.00%

17.08%

Agency

10.18%

10.39%

Muni Bonds

4.33%

3.80%

ABS

2.66%

3.00%

Supras

1.46%

1.46%

Money Mkt Fd

0.41%

0.33%

21

ISSUERS
Western Municipal Water District | Account #250 | As of December 31, 2025
Issuer

Investment Type

United States

US Treasury

% Portfolio
37.41%

FHLMC

Agency CMBS

17.00%

Federal Home Loan Banks

Agency

5.99%

FNMA

Agency

2.39%

State of California

Muni Bonds

2.25%

The Home Depot, Inc.

Corporate

1.60%

Guardian Life Global Funding

Corporate

1.59%

Inter-American Development Bank

Supras

1.46%

Amazon.com, Inc.

Corporate

1.12%

New York Life Insurance Company

Corporate

1.09%

Metropolitan Life Global Funding I

Corporate

1.06%

Bank of America Corporation

Corporate

1.02%

Simon Property Group, Inc.

Corporate

0.98%

Pricoa Global Funding I

Corporate

0.97%

Farm Credit System

Agency

0.92%

Caterpillar Inc.

Corporate

0.91%

Morgan Stanley

Corporate

0.90%

Commonwealth of Massachusetts

Muni Bonds

0.90%

Deere & Company

Corporate

0.90%

PACCAR Inc

Corporate

0.88%

State of Tennessee

Agency

0.87%

PepsiCo, Inc.

Corporate

0.86%

The Progressive Corporation

Corporate

0.85%

Chubb Limited

Corporate

0.83%

Northwestern Mutual Global Funding

Corporate

0.83%

Toyota Motor Corporation

Corporate

0.79%

The Goldman Sachs Group, Inc.

Corporate

0.78%

American Express Credit Master Trust

ABS

0.74%

Pfizer Inc.

Corporate

0.74%

Florida Power & Light

Corporate

0.73%

22

ISSUERS
Western Municipal Water District | Account #250 | As of December 31, 2025
Issuer

Investment Type

National Rural Utilities Cooperative

Corporate

0.73%

Marsh & McLennan Companies, Inc.

Corporate

0.72%

The Charles Schwab Corporation

Corporate

0.72%

Berkshire Hathaway Inc.

Corporate

0.72%

Duke Energy Corporation

Corporate

0.70%

Eli Lilly and Company

Corporate

0.64%

State of Georgia

Muni Bonds

0.62%

John Deere Owner Trust

ABS

0.60%

The Toronto-Dominion Bank

Corporate

0.57%

Texas Public Finance Authority

Muni Bonds

0.55%

American Honda Finance Corporation

Corporate

0.54%

Hyundai Auto Receivables Trust

ABS

0.53%

Cargill, Incorporated

Corporate

0.53%

Massachusetts Mutual Life Insurance

Corporate

0.52%

Bank of America Credit Card Trust

ABS

0.47%

Met Tower Global Funding

Corporate

0.41%

First American Govt Oblig Fund

Money Mkt Fd

0.41%

Prologis, Inc.

Corporate

0.35%

GM Financial Automobile Leasing Trus

ABS

0.32%

Cash

Cash

0.00%

TOTAL

% Portfolio

100.00%

23

QUALITY DISTRIBUTION
Western Municipal Water District | Account #250 | As of December 31, 2025
S&P Rating

Moody’s Rating

12/31/2025

09/30/2025

AAA

6.08%

5.50%

AA

74.99%

A

Fitch Rating

12/31/2025

09/30/2025

Aaa

8.17%

8.86%

75.23%

Aa

72.19%

16.82%

17.36%

A

BBB

0.78%

--

NA

NA

1.33%

1.90%

Rating

Rating

12/31/2025

09/30/2025

AAA

14.40%

13.63%

71.54%

AA

64.81%

67.15%

18.07%

17.29%

A

10.48%

9.60%

1.58%

2.32%

NA

10.32%

9.62%

Rating

24

DURATION DISTRIBUTION
Western Municipal Water District | Account #250 | As of December 31, 2025
Portfolio Compared to the Benchmark

0-.25

.25-.5

.5-1

1-2

2-3

3-4

4-5

5-7

7+

Portfolio

1.3%

5.3%

4.2%

11.7%

16.5%

17.9%

22.4%

20.6%

0.0%

ICE BofA 1-10 Year Unsubordinated US Treasury
& Agency Index

0.0%

0.0%

1.8%

25.3%

20.5%

15.1%

13.2%

18.2%

6.0%

25

INVESTMENT PERFORMANCE
Western Municipal Water District | Account #250 | As of December 31, 2025
Total and Realized Rate of Return : Inception | 09/01/2001
8.00%
7.00%
6.00%
5.00%
4.00%
3.00%
2.00%

1.00%
0.00%
3 months

12 months

2 years
WMWD

3 years

Benchmark

5 years

10 years

Since Inception

WMWD Realized Return

3 Months

12 Months

2 Years

3 Years

5 Years

10 Years

Since Inception

1.14%

6.86%

5.03%

4.92%

1.05%

2.13%

3.37%

1.09%

6.38%

4.45%

4.37%

0.67%

1.76%

2.92%

0.89%

3.10%

2.71%

TOTAL RATE OF RETURN
WMWD

Benchmark
REALIZED RATE OF RETURN
WMWD

*Periods over 1 year are annualized.
Benchmark: ICE BofA 1-10 Year Unsubordinated US Treasury & Agency Index
Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized
and unrealized gains and losses in the portfolio. Realized rate of return: A measure of a portfolio’s return over time. It is the internal rate which equates the beginning book value of the portfolio with the ending book value;
it includes interest earnings, realized gains and losses in the portfolio.

26

PORTFOLIO CHARACTERISTICS
Western Municipal Water District Liquidity | Account #252 | As of December 31, 2025
12/31/2025
Portfolio

9/30/2025
Portfolio

Average Maturity (yrs)

0.00

0.00

Average Modified Duration

0.00

0.00

Average Purchase Yield

3.91%

4.26%

Average Market Yield

3.91%

4.26%

Average Quality**

AAA

AAA

Total Market Value

45,553,133

40,994,883

*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

27

SECTOR DISTRIBUTION
Western Municipal Water District Liquidity | Account #252 | As of December 31, 2025

Sector as a Percentage of Market Value
Sector

12/31/2025

09/30/2025

LGIP

88.23%

87.43%

LAIF

11.77%

12.57%

28

CONSOLIDATED INFORMATION

29

PORTFOLIO CHARACTERISTICS
Western Municipal Water District Cons | Account #253 | As of December 31, 2025
12/31/2025
Portfolio

9/30/2025
Portfolio

Average Maturity (yrs)

3.47

3.57

Average Modified Duration

3.00

3.07

Average Purchase Yield

3.51%

3.53%

Average Market Yield

3.89%

3.98%

Average Quality**

AA+

AA+

Total Market Value

331,240,950

323,469,065

*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch.

30

SECTOR DISTRIBUTION
Western Municipal Water District Cons | Account #253 | As of December 31, 2025

Sector as a Percentage of Market Value
Sector

12/31/2025

09/30/2025

US Treasury

32.23%

32.61%

Corporate

22.88%

23.23%

Agency CMBS

14.65%

14.92%

LGIP

12.20%

11.07%

Agency

8.77%

9.08%

Muni Bonds

3.73%

3.32%

ABS

2.30%

2.62%

LAIF

1.63%

1.59%

Supras

1.26%

1.28%

Money Mkt Fd

0.35%

0.29%

31

PORTFOLIO HOLDINGS

32

HOLDINGS REPORT
Western Municipal Water District | Account #250 | As of December 31, 2025

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

36269FAD8

GMALT 2024-1 A3 5.09
03/22/2027

903,117.16

03/27/2024
5.08%

903,364.11
903,364.11

100.23
4.03%

905,157.30
1,404.60

0.32%
1,793.19

NA/AAA
AAA

1.22
0.20

47800CAC0

JDOT 2023 A3 5.01 11/15/2027

347,358.02

02/27/2023
5.05%

346,761.00
346,761.00

100.46
4.01%

348,956.21
773.45

0.12%
2,195.21

Aaa/NA
AAA

1.87
0.43

47800RAD5

JDOT 2024 A3 4.96 11/15/2028

1,350,000.00

03/26/2024
4.96%

1,350,052.73
1,350,052.73

100.88
3.98%

1,361,830.05
2,976.00

0.48%
11,777.32

Aaa/NA
AAA

2.88
0.85

448973AD9

HART 2024-A A3 4.99 02/15/2029

1,496,119.09

03/26/2024
4.98%

1,496,703.51
1,496,703.51

100.86
3.96%

1,508,924.37
3,318.06

0.53%
12,220.86

NA/AAA
AAA

3.13
0.79

02582JKH2

AMXCA 2024-1 A 5.23 04/16/2029

2,055,000.00

04/16/2024
5.23%

2,054,578.73
2,054,578.73

101.89
3.75%

2,093,845.67
4,776.73

0.74%
39,266.94

NA/AAA
AAA

3.29
1.22

05522RDJ4

BACCT 2024-1 A 4.93 05/15/2029

1,315,000.00

06/06/2024
4.93%

1,314,926.23
1,314,926.23

101.57
3.78%

1,335,600.79
2,881.31

0.47%
20,674.56

Aaa/AAA
NA

3.37
1.30

7,466,594.26

5.05%

7,466,386.31
7,466,386.31

101.18
3.89%

7,554,314.39
16,130.15

2.66%
87,928.08

Cusip
ABS

Total ABS

2.88
0.92

AGENCY
3130AGFP5

FEDERAL HOME LOAN BANKS 2.5
06/12/2026

2,000,000.00

06/17/2019
2.19%

2,040,340.00
2,040,340.00

99.55
3.53%

1,990,954.00
2,638.89

0.70%
(49,386.00)

Aa1/AA+
AA+

0.45
0.44

3130A9YY1

FEDERAL HOME LOAN BANKS
2.125 12/11/2026

2,500,000.00

02/06/2020
1.74%

2,562,475.00
2,562,475.00

98.70
3.54%

2,467,557.50
2,951.39

0.87%
(94,917.50)

Aa1/AA+
AA+

0.94
0.92

880591EU2

TENNESSEE VALLEY AUTHORITY
2.875 02/01/2027

2,500,000.00

07/30/2019
2.26%

2,604,650.00
2,604,650.00

99.22
3.62%

2,480,515.00
29,947.92

0.87%
(124,135.00)

Aa1/AA+
AA+

1.09
1.04

3130A3VD3

FEDERAL HOME LOAN BANKS
2.625 06/11/2027

1,485,000.00

08/15/2017
2.58%

1,491,118.20
1,491,118.20

98.80
3.49%

1,467,157.73
2,165.63

0.52%
(23,960.48)

Aa1/AA+
AA+

1.44
1.40

3130ACKB9

FEDERAL HOME LOAN BANKS
2.625 09/10/2027

2,275,000.00

11/20/2017
2.68%

2,263,670.50
2,263,670.50

98.56
3.51%

2,242,160.38
18,413.28

0.79%
(21,510.13)

Aa1/AA+
AA+

1.69
1.62

3135G05Y5

FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.75 10/08/2027

3,670,000.00

-0.74%

3,671,721.90
3,671,721.90

95.33
3.50%

3,498,754.13
6,346.04

1.23%
(172,967.77)

Aa1/AA+
AA+

1.77
1.72

3130AEB25

FEDERAL HOME LOAN BANKS 3.25
06/09/2028

2,500,000.00

01/29/2019
3.13%

2,523,925.00
2,523,925.00

99.40
3.51%

2,485,120.00
4,965.28

0.88%
(38,805.00)

Aa1/AA+
AA+

2.44
2.32

3130AG3X1

FEDERAL HOME LOAN BANKS
2.875 03/09/2029

1,855,000.00

-2.67%

1,887,021.80
1,887,021.80

97.53
3.70%

1,809,136.98
16,591.94

0.64%
(77,884.82)

Aa1/AA+
AA+

3.19
2.98

33

HOLDINGS REPORT
Western Municipal Water District | Account #250 | As of December 31, 2025
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

Cusip

Security Description

3130AGDY8

FEDERAL HOME LOAN BANKS 2.75
06/08/2029

2,720,000.00

-2.45%

2,791,164.60
2,791,164.60

97.22
3.62%

2,644,370.40
4,778.89

0.93%
(146,794.20)

Aa1/AA+
AA+

3.44
3.23

3130AGUW3

FEDERAL HOME LOAN BANKS
2.125 09/14/2029

2,000,000.00

03/05/2020
1.21%

2,164,080.00
2,164,080.00

94.47
3.74%

1,889,300.00
12,631.94

0.67%
(274,780.00)

Aa1/AA+
AA+

3.70
3.49

3135G05Q2

FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.875 08/05/2030

3,720,000.00

-0.99%

3,680,090.60
3,680,090.60

88.23
3.68%

3,282,103.92
13,200.83

1.16%
(397,986.68)

Aa1/AA+
AA+

4.59
4.40

3133ERDM0

FEDERAL FARM CREDIT BANKS
FUNDING CORP 4.75 05/02/2031

2,500,000.00

07/19/2024
4.38%

2,553,425.00
2,553,425.00

104.30
3.85%

2,607,457.50
19,461.81

0.92%
54,032.50

Aa1/AA+
AA+

5.33
4.66

29,725,000.00

2.17%

30,233,682.60
30,233,682.60

97.28
3.61%

28,864,587.53
134,093.84

10.18%
(1,369,095.07)

Total Agency

2.60
2.44

AGENCY CMBS
3137FBBX3

FHMS K-068 A2 3.244 08/25/2027

2,050,000.00

02/02/2022
1.80%

2,195,582.03
2,195,582.03

99.12
3.71%

2,031,998.95
5,541.83

0.72%
(163,583.08)

Aaa/AA+
AA+

1.65
1.51

3137H1Z33

FHMS K-744 A2 1.712 07/25/2028

1,565,035.84

02/08/2022
2.05%

1,530,855.46
1,530,855.46

95.21
3.78%

1,490,123.84
2,232.78

0.53%
(40,731.62)

Aa1/AA+
AAA

2.57
2.31

3137H5DX2

FHMS K-747 A2 2.05 11/25/2028

2,555,000.00

01/19/2022
1.96%

2,566,939.52
2,566,939.52

95.21
3.83%

2,432,633.39
4,364.79

0.86%
(134,306.14)

Aa1/AA+
AAA

2.90
2.69

3137H9D71

FHMS K-750 A2 3.0 09/25/2029

3,525,000.00

-4.84%

3,224,685.42
3,224,685.42

97.17
3.88%

3,425,090.93
8,812.50

1.21%
200,405.51

Aa1/AA+
AAA

3.73
3.11

3137FREH0

FHMS K-104 A2 2.253 01/25/2030

1,100,000.00

03/29/2023
4.31%

973,757.81
973,757.81

93.84
3.94%

1,032,288.40
2,065.25

0.36%
58,530.59

Aa1/AA+
AAA

4.07
3.68

3137HB2L7

FHMS K-753 A2 4.4 10/25/2030

1,450,000.00

11/27/2023
5.12%

1,390,583.98
1,390,583.98

101.28
4.06%

1,468,626.70
5,316.67

0.52%
78,042.72

Aa1/AA+
AAA

4.82
4.18

3137HBC51

FHMS K-754 A2 4.94 11/25/2030

2,000,000.00

12/07/2023
4.77%

2,025,000.00
2,025,000.00

103.51
4.10%

2,070,226.00
8,233.33

0.73%
45,226.00

Aa1/AA+
AAA

4.90
4.24

3137FJY60

FHMS K-1508 A2 3.9 12/25/2030

2,000,000.00

01/04/2023
4.16%

1,959,375.00
1,959,375.00

99.15
4.07%

1,982,914.00
6,500.00

0.70%
23,539.00

Aa1/AA+
AA+

4.98
4.28

3137HDVA5

FHMS K756 4.963 05/25/2031

3,115,000.00

07/24/2024
4.57%

3,177,159.83
3,177,159.83

103.71
4.14%

3,230,719.14
12,883.12

1.14%
53,559.31

Aa1/AA+
AAA

5.40
4.57

3137HH5X5

FHMS K757 A2 4.456 08/25/2031

3,725,000.00

10/02/2024
4.07%

3,799,391.98
3,799,391.98

101.34
4.16%

3,774,967.15
13,832.17

1.33%
(24,424.83)

Aaa/AA+
AA+

5.65
4.82

34

HOLDINGS REPORT
Western Municipal Water District | Account #250 | As of December 31, 2025
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

Cusip

Security Description

3137HHJF9

FHMS K-758 A2 4.68 10/25/2031

3,000,000.00

12/30/2024
4.78%

2,973,750.00
2,973,750.00

102.36
4.19%

3,070,719.00
11,700.00

1.08%
96,969.00

Aa1/AA+
AA+

5.82
4.95

3137H6LN3

FHMS K-139 A2 2.59 01/25/2032

2,045,000.00

03/01/2022
2.33%

2,087,773.22
2,087,773.22

91.50
4.20%

1,871,119.79
4,413.79

0.66%
(216,653.44)

Aaa/AA+
AA+

6.07
5.42

3137HJZS9

FHMS K-759 A2 4.8 01/25/2032

2,625,000.00

02/11/2025
4.76%

2,622,196.50
2,622,196.50

102.95
4.21%

2,702,353.50
10,500.00

0.95%
80,157.00

Aa1/AA+
AAA

6.07
5.08

3137H8BK6

FHMS K-147 A2 3.0 06/25/2032

4,100,000.00

-3.48%

3,817,156.25
3,817,156.25

92.95
4.26%

3,811,142.70
10,250.00

1.34%
(6,013.55)

Aa1/AA+
AAA

6.48
5.71

3137HN4L9

FHMS K-761 A2 4.4 06/25/2032

2,750,000.00

09/04/2025
4.23%

2,769,549.75
2,769,549.75

100.68
4.26%

2,768,815.50
10,083.33

0.98%
(734.25)

Aa1/AA+
AAA

6.48
5.47

3137H8U90

FHMS K-148 A2 3.5 07/25/2032

4,050,000.00

-4.14%

3,856,083.97
3,856,083.97

95.63
4.27%

3,873,067.65
11,812.50

1.37%
16,983.68

Aaa/AA+
AA+

6.57
5.70

3137HNTK4

FHMS K-762 A2 4.36 09/25/2032

2,800,000.00

11/05/2025
4.25%

2,809,483.60
2,809,483.60

100.44
4.27%

2,812,180.00
10,173.33

0.99%
2,696.40

Aa1/AAA
AA+

6.74
5.64

3137HPET6

FHMS K-763 A2 4.17 10/25/2032

2,450,000.00

12/08/2025
4.20%

2,429,341.60
2,429,341.60

99.28
4.28%

2,432,364.90
8,513.75

0.86%
3,023.30

Aa1/AA+
AA+

6.82
5.75

3137H9M89

FHMS K-152 A2 3.78 11/25/2032

2,000,000.00

01/17/2023
4.01%

1,957,812.50
1,957,812.50

97.00
4.29%

1,939,954.00
6,300.00

0.68%
(17,858.50)

Aa1/AA+
AAA

6.90
5.81

48,905,035.84

3.96%

48,166,478.42
48,166,478.42

98.73
4.12%

48,221,305.52
153,529.16

17.00%
54,827.09

3,778.39
3,778.39

1.00

3,778.39
0.00

0.00%
0.00

3,778.39
3,778.39

1.00

3,778.39
0.00

0.00%
0.00

Total Agency CMBS

5.39
4.63

CASH
CCYUSD

Receivable

Total Cash

3,778.39

--

3,778.39

Aaa/AAA
AAA

0.00
0.00
0.00
0.00

CORPORATE
023135BX3

AMAZON.COM INC 1.0
05/12/2026

3,195,000.00

05/10/2021
1.09%

3,181,197.60
3,181,197.60

99.02
3.74%

3,163,756.10
4,348.75

1.12%
(17,441.51)

A1/AA
AA-

0.36
0.36

40139LBD4

GUARDIAN LIFE GLOBAL FUNDING
1.25 05/13/2026

1,190,000.00

-1.13%

1,196,593.00
1,196,593.00

99.04
3.92%

1,178,570.05
1,983.33

0.42%
(18,022.95)

Aa1/AA+
NA

0.36
0.36

35

HOLDINGS REPORT
Western Municipal Water District | Account #250 | As of December 31, 2025
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

Cusip

Security Description

808513BR5

CHARLES SCHWAB CORP 1.15
05/13/2026

2,060,000.00

05/11/2021
1.20%

2,055,220.80
2,055,220.80

99.01
3.90%

2,039,663.68
3,158.67

0.72%
(15,557.12)

A2/AA

0.36
0.36

89236TJK2

TOYOTA MOTOR CREDIT CORP
1.125 06/18/2026

2,260,000.00

06/15/2021
1.13%

2,259,005.60
2,259,005.60

98.79
3.80%

2,232,561.34
918.13

0.79%
(26,444.26)

A1/A+
A+

0.46
0.45

58989V2D5

MET TOWER GLOBAL FUNDING
1.25 09/14/2026

1,195,000.00

09/07/2021
1.27%

1,193,900.60
1,193,900.60

98.18
3.90%

1,173,303.58
4,439.76

0.41%
(20,597.02)

Aa3/AAAA-

0.70
0.68

59217GER6

METROPOLITAN LIFE GLOBAL
FUNDING I 1.875 01/11/2027

1,730,000.00

01/03/2022
1.90%

1,728,027.80
1,728,027.80

97.99
3.89%

1,695,296.20
15,317.71

0.60%
(32,731.60)

Aa3/AAAA-

1.03
0.99

26444HAC5

DUKE ENERGY FLORIDA LLC 3.2
01/15/2027

2,000,000.00

03/08/2022
2.52%

2,059,040.00
2,059,040.00

99.44
3.75%

1,988,856.00
29,511.11

0.70%
(70,184.00)

A1/A
NA

1.04
0.99

084664CZ2

BERKSHIRE HATHAWAY FINANCE
CORP 2.3 03/15/2027

2,065,000.00

03/07/2022
2.30%

2,064,607.65
2,064,607.65

98.42
3.65%

2,032,472.12
13,984.64

0.72%
(32,135.53)

Aa2/AA
A+

1.20
1.16

66815L2M0

NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.9 06/12/2028

1,300,000.00

06/06/2023
4.84%

1,303,484.00
1,303,484.00

102.22
3.94%

1,328,818.40
3,361.94

0.47%
25,334.40

Aa1/AA+
AAA

2.45
2.28

74340XBX8

PROLOGIS LP 4.0 09/15/2028

1,000,000.00

11/29/2023
5.07%

955,070.00
955,070.00

100.18
3.93%

1,001,817.00
11,777.78

0.35%
46,747.00

A2/A
NA

2.71
2.29

66815L2Q1

NORTHWESTERN MUTUAL
GLOBAL FUNDING 4.71
01/10/2029

1,000,000.00

-4.67%

1,001,825.24
1,001,825.24

101.77
4.08%

1,017,657.00
22,372.50

0.36%
15,831.76

Aa1/AA+
AAA

3.03
2.74

24422EXH7

JOHN DEERE CAPITAL CORP 4.5
01/16/2029

1,000,000.00

01/10/2024
4.53%

998,650.00
998,650.00

101.60
3.94%

1,015,972.00
20,625.00

0.36%
17,322.00

A1/A
A+

3.04
2.76

57629W5B2

MASSMUTUAL