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File #: 17-729   
Type: Orange County Transportation Authority Item Status: Committee Ready - Consent
File created: 8/25/2017 In control: Finance and Administration Committee
On agenda: 9/13/2017 Final action: 9/25/2017
Title: Investments: Compliance, Controls, and Reporting, January 1 through June 30, 2017
Sponsors: Gabriel Tang, Janet Sutter
Attachments: 1. Transmittal, 2. Staff Report, 3. Attachment A

Title

Investments: Compliance, Controls, and Reporting, January 1 through June 30, 2017

 

Overview

The Internal Audit Department has completed an audit of investments for the period January 1 through June 30, 2017. Based on the audit, the Orange County Transportation Authority complied with its debt, investment, and reporting policies and procedures; however, two minor reporting errors were identified in the first and second quarterly investment and debt reports. Internal Audit recommends management enhance review procedures to ensure line items are validated and schedules are reconciled before finalizing the report.

 

Recommendation(s)

Direct staff to implement one recommendation provided in Investments: Compliance, Controls, and Reporting, January 1 through June 30, 2017, Internal Audit Report No. 18-501.