Orange County Transportation Authority - File #: 19-1951

• File #: 19-1951
• Type: Orange County Transportation Authority Item
• Status: Passed
• File created: 5/3/2019
• In control: Finance and Administration Committee
• On agenda: 5/22/2019
• Final action: 5/24/2019
• Title: Investments: Compliance, Controls, and Reporting, July 1 through December 31, 2018
• Sponsors: Gabriel Tang, Janet Sutter

Date	Action By	Action	Result
5/24/2019	Board
5/22/2019	Finance and Administration Committee

Title

Investments: Compliance, Controls, and Reporting, July 1 through December 31, 2018

Overview

The Internal Audit Department has completed an audit of investments for the period July 1 through December 31, 2018. Based on the audit, the Orange County Transportation Authority complied with its debt and investment policies; however, a few errors were identified in the fourth quarter investment and debt report, and a recommendation was made to enhance monitoring of asset-backed securities’ diversification limits.

Recommendation(s)

Direct staff to implement two recommendations provided in Investments: Compliance, Controls, and Reporting, July 1 through December 31, 2018, Internal Audit Report No. 19-507.