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File #: 24-5812   
Type: Orange County Transportation Authority Item Status: Committee Ready - Consent
File created: 10/11/2024 In control: Finance and Administration Committee
On agenda: Final action:
Title: Investment Manager Contracts, Internal Audit Report No. 25-504
Sponsors: Gabriel Tang, Janet Sutter
Attachments: 1. Transmittal, 2. Staff Report, 3. Attachment A
Date Action ByActionResultAction DetailsMeeting DetailsVideo/Audio
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Subject

title

Investment Manager Contracts, Internal Audit Report No. 25-504

overview

Overview

The Internal Audit Department of the Orange County Transportation Authority has completed an audit of investment manager contracts. Based on the audit, oversight, contract compliance, and invoice review controls are generally adequate; however, two recommendations have been made to improve compliance with contract terms related to replacing key personnel and to improve the timeliness of invoice processing.

recommendation

Recommendation(s)

Direct staff to implement two recommendations provided in Investment Manager Contracts, Internal Audit Report No. 25-504.