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Becerra, Alexis <br /> From: Jackie Angel Investor < <br /> Sent: Tuesday, October 7, 2025 10:01 AM <br /> To: eComment <br /> Cc: Vazquez, Benjamin <br /> Subject: SAPOA AUP Final 7.30.25 Santa Ana Police Officers' Association Trust Fund January 1, <br /> 2023 through December 31, 2023 <br /> Attachments: SAPOA AUP Final 7.30.25-cl-cl.pdf; Summons and Complaint (SAPOA v City <br /> 30-2021-01230134).pdf; Summons and Complaint (SAPOA-Serrano v City <br /> 30-2021-01230129).pdf <br /> ,Attention: This email originated from outside of City of Santa Ana.Use caution when opening attachments or links. <br /> Santa Ana Police Department fired here and served with a restraining order. JC <br /> -Independent Accountants' Report on Agreed Upon Procedures for the Santa Ana Police Officers' Association <br /> Trust Fund January 1, 2023 through December 31, 2023 (attached) <br /> -Summons and Complaint (SAPOA v City 30-2021-01230134).pdf SANTA ANA POLICE OFFICERS ASSOCIATION <br /> and DOE OFFICERS VS. CITY OF SANTA ANA (attached) <br /> -SANTA ANA POLICE OFFICERS ASSOCIATION; GERRY SERRANO VS. CITY OF SANTA ANA (attached) <br /> The City makes monthly Trust contributions. We obtained from the City a Trust payment detail, which listed all <br /> payments made to the Trust for the period under review and compared 100% of the payments made by the <br /> City to the documentation on file with the Association. Next, we traced the transfers and their amounts to <br /> deposits listed on the bank statements and general ledger. <br /> Investment Balances and Transactions 9. Per the general ledger, we identified the checking account amounts <br /> that were paid to Charles Schwab. We compared those amounts to payments made per the checking account <br /> bank statements. We also compared those amounts to the deposits recorded in the Trust's Charles Schwab <br /> brokerage accounts. Results: We noted no payments were made to Charles Schwab during the year. <br /> A summary of the investments held is as follows: <br /> Charles Schwab <br /> Cash 45,511 <br /> Fixed Income 2,304,062 <br /> Alternative/Sector Investments 743,658 <br /> Equities 3,203,272 <br /> Total $6,296,503 <br /> Results: For the fiscal year beginning January 1, 2023, and ending December 31, 2023, there is excess fund <br /> balance in the amount of$3,426,054 (see Attachment 1B). <br /> Excess Fund Balance 12. Per Section 5 of the Agreement, the Association must return to the City any excess <br /> fund balance being held in the trust as of December 31. Excess fund balance is defined as any amount that <br /> exceeds four-times the total insurance premiums minus the employees' share of the premium contribution <br /> paid for the month of December for the year just ended. Once the excess fund balance is determined for the <br /> 1 <br />