Orange County Transportation Authority  
Finance and Administration Committee Agenda  
Wednesday, February 12, 2025 at 10:30 a.m.  
Board Room, 550 South Main Street, Orange, California  
Committee Members  
Michael Hennessey, Chair  
Patrick Harper, Vice Chair  
Mike Carroll  
Jamey M. Federico  
Carlos A. Leon  
Vicente Sarmiento  
Mark Tettemer  
Any person with a disability who requires a modification or accommodation in order to participate  
in this meeting should contact the Orange County Transportation Authority (OCTA) Clerk of the  
Board's office at (714) 560-5676, no less than two business days prior to this meeting to enable  
OCTA to make reasonable arrangements to assure accessibility to this meeting.  
Agenda Descriptions  
Agenda descriptions are intended to give members of the public a general summary of items of  
business to be transacted or discussed. The posting of the recommended actions does not  
indicate what action will be taken. The Committee may take any action which it deems to be  
appropriate on the agenda item and is not limited in any way by the notice of the recommended  
action.  
Public Availability of Agenda Materials  
All documents relative to the items referenced in this agenda are available for public inspection at  
www.octa.net or through the Clerk of the Board’s office at the OCTA Headquarters, 600 South  
Main Street, Orange, California.  
Meeting Access and Public Comments on Agenda Items  
Members of the public can either attend in-person or access live streaming of the Committee  
meetings by clicking this link: https://octa.legistar.com/Calendar.aspx  
In-Person Comment  
Members of the public may attend in-person and address the Board regarding any item within the  
subject matter jurisdiction of the Orange County Transportation Authority. Please complete a  
speaker’s card and submit it to the Clerk of the Board and notify the Clerk regarding the agenda  
item number on which you wish to speak. Speakers will be recognized by the Chair at the time of  
the agenda item is to be considered by the Board. Comments will be limited to three minutes. The  
Brown Act prohibits the Board from either discussing or taking action on any non-agendized  
items.  
Written Comment  
Written public comments may also be submitted by emailing them to ClerkOffice@octa.net, and  
must be sent by 5:00 p.m. the day prior to the meeting. If you wish to comment on a specific  
agenda Item, please identify the Item number in your email. All public comments that are timely  
received will be part of the public record and distributed to the Board. Public comments will be  
made available to the public upon request.  
Call to Order  
Pledge of Allegiance  
Director Sarmiento  
Closed Session  
There are no Closed Session items scheduled.  
Special Calendar  
1.  
Committee Meeting 2025 Schedule  
Michael Hennessey  
Overview  
Committee Chair Hennessey will lead a discussion regarding the 2025 meeting schedule  
for the Finance and Administration Committee.  
Recommendation(s)  
Approve the 2025 Finance and Administration Committee meeting calendar.  
Attachments:  
Calendar  
2.  
Roles and Responsibilities of the Finance and Administrative Committee  
Darrell E. Johnson  
Overview  
Roles and responsibilities for the Finance and Administrative Committee are reviewed  
periodically for any appropriate changes or additions.  
Recommendation(s)  
Approve the 2025 Finance and Administrative Committee Roles and Responsibilities.  
Attachments:  
Roles and Responsibilities  
Consent Calendar (Items 3 through 8)  
All items on the Consent Calendar are to be approved in one motion unless a Committee  
Member or a member of the public requests separate action or discussion on a specific item.  
3.  
Approval of Minutes  
Clerk of the Board  
Recommendation(s)  
Approve the minutes of the January 22, 2025 Finance and Administration Committee  
meeting.  
Attachments:  
Minutes  
4.  
Audit Responsibilities of the Finance and Administration Committee  
Janet Sutter  
Overview  
The Finance and Administration Committee of the Board of Directors of the Orange  
County Transportation Authority serves as an audit committee in its oversight of audit  
activities. Annually, the Board of Directors approves the audit responsibilities of the  
Finance and Administration Committee to reaffirm these responsibilities.  
Recommendation(s)  
Approve the audit responsibilities of the Finance and Administration Committee.  
Attachments:  
Staff Report  
Attachment A  
5.  
Approval  
Estimates  
of  
Local  
Transportation  
Fund  
Fiscal  
Year  
2025-26 Apportionment  
Sam Kaur/Andrew Oftelie  
Overview  
The Orange County Transportation Authority, as the transportation planning agency and  
county transportation commission for Orange County, is responsible for developing  
estimates used in apportioning revenues earned and deposited in the Orange County  
Local Transportation Fund. Transportation Development Act regulations require that the  
apportionments for fiscal year 2025-26 be determined, and prospective claimants be  
advised of the amounts.  
Recommendation(s)  
Approve the Local Transportation Fund fiscal year 2025-26 apportionment estimates and  
authorize the Chief Executive Officer to advise all prospective claimants of the amounts of  
all area apportionments from the Orange County Local Transportation Fund.  
Attachments:  
Staff Report  
6.  
Disadvantaged Business Enterprise Program Update  
Pia Veesapen/Andrew Oftelie  
Overview  
On April 9, 2024, the United States Department of Transportation issued a Final Rule that  
introduced significant amendments to Disadvantaged Business Enterprise Program  
regulations. As these changes are significant, the Orange County Transportation Authority  
must update its Disadvantaged Business Enterprise Program to align with the new  
regulations and submit it for approval by the Board of Directors.  
Recommendation(s)  
Adopt the proposed revisions to the Orange County Transportation Authority’s  
Disadvantaged Business Enterprise Program and direct staff to implement the  
recommended changes.  
Attachments:  
Staff Report  
Attachment A  
7.  
Local Transportation Fund Claims for Fiscal Year 2025-26  
Sam Kaur/Andrew Oftelie  
Overview  
The Orange County Transit District is eligible to receive funding from the Local  
Transportation Fund for providing public transportation services throughout Orange County.  
To receive these funds, the Orange County Transit District, as the public transit and  
community transit services operator, must file claims with the Orange County  
Transportation Authority, the transportation planning agency for Orange County.  
Recommendation(s)  
Adopt Orange County Transit District Resolution No. 2025-007 authorizing the filing of  
Local Transportation Fund claims, in the estimated amounts of $208,460,790 to support  
public transportation and $11,050,352 for community transit services.  
Attachments:  
Staff Report  
Attachment A  
8.  
Orange County Transportation Authority Investment and Debt Programs Report -  
December 2024  
Robert Davis/Andrew Oftelie  
Overview  
The Orange County Transportation Authority has a comprehensive investment and debt  
program to fund its immediate and long-term cash flow demands. Each month, the  
Treasurer submits a report detailing investment allocation, performance, compliance,  
outstanding debt balances, and credit ratings for the Orange County Transportation  
Authority’s debt program. This report is for the month ending December 31, 2024. The  
report has been reviewed and is consistent with the investment practices contained in the  
investment policy.  
Recommendation(s)  
Receive and file as an information item.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
Regular Calendar  
9.  
Approval of Refunding the Measure M2 Sales Tax Revenue Bonds, Series 2010 A  
Build America Bonds  
Robert Davis/Andrew Oftelie  
Overview  
On October 14, 2024, the Orange County Transportation Authority Board of Directors  
directed staff to pursue refunding of the Orange County Local Transportation Authority  
Measure M2 Sales Tax Series 2010 A Revenue Bonds. Board of Directors’ approval is  
necessary to finalize the refunding and to provide the draft financing documents required to  
complete the transaction.  
Recommendation(s)  
Adopt Resolution No. 2025-008 authorizing the issuance and sale of Orange County Local  
Transportation Authority Measure M2 Sales Tax Revenue Refunding Bonds, Series 2025  
in an aggregate principal amount not to exceed $270 million, the execution and delivery of  
a Fourth Supplemental Indenture, a Purchase Contract, an Official Statement, and a  
Continuing Disclosure Certificate, and taking all other actions necessary in connection with  
the proposed transaction.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
Attachment C  
Attachment D  
Attachment E  
Discussion Items  
10.  
11.  
12.  
13.  
Public Comments  
Chief Executive Officer's Report  
Committee Members' Reports  
Adjournment  
The next regularly scheduled meeting of this Committee will be held:  
10:30 a.m. on Wednesday, February 26, 2025  
OCTA Headquarters  
Board Room  
550 South Main Street  
Orange, California