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File #: 18-929   
Type: Orange County Transportation Authority Item Status: Passed
File created: 12/28/2017 In control: Finance and Administration Committee
On agenda: 1/10/2018 Final action: 1/10/2018
Title: Appointment of the Orange County Transportation Authority Treasurer
Sponsors: Kenneth Phipps
Attachments: 1. Staff Report

Title

Appointment of the Orange County Transportation Authority Treasurer

 

Overview

Under the California Government Code, the governing body of a local agency has the authorization to appoint a Treasurer to invest, reinvest, purchase, exchange, sell, or manage public funds. Senate Bill 109 limits the delegation of the investment function by the governing body to its Treasurer to a one-year period.  Recent changes within the organizational structure at the Orange County Transportation Authority have required an appointment of a new agency Treasurer.

 

Recommendation(s)

 

A.                     Appoint the Executive Director of Finance and Administration as the Treasurer of Orange County Transportation Authority and its affiliated agencies, effective January 22, 2018.

 

B.                     Authorize the Treasurer to invest or reinvest Orange County Transportation Authority funds for the remaining duration of Fiscal
Year 2017-18.