A Long Beach police sergeant has been charged with two counts of grand theft over the theft of six handguns and unauthorized expenditure of funds from the police-operated pistol club he formerly ran, the district attorney's office said. Sgt. Frederick G. Smith, a 15-year veteran, was accused in a Police Department investigative crime report of spending $8,428 on personal items, including two videocassette recorders and shotguns as well as about $7,000 on unauthorized improvements at the range. The report, released by Police Chief Charles B. Ussery, said Smith bought more than $4,000 worth of gasoline on the club's credit card for personal use. The club also was charged $354 for repairs to his car. A police spokesman would not comment on the charges.