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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
Attachments: 1. Transmittal, 2. Staff Report, 3. Attachment A

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.