Orange County Transportation Authority  
Finance and Administration Committee Agenda  
Wednesday, May 14, 2025 at 10:30 a.m.  
Board Room, 550 South Main Street, Orange, California  
Committee Members  
Michael Hennessey, Chair  
Patrick Harper, Vice Chair  
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.  
Taxable Sales Forecast - MuniServices  
Sam Kaur/Andrew Oftelie  
Overview  
Orange County Transportation Authority contracts with several economic specialists to  
provide an annual 30-year taxable sales forecast for Measure M2. The latest forecasts  
were received in Spring 2025. Thomas Adams, from MuniServices, will provide an update  
on the annual forecast and economic outlook for Orange County to the Finance and  
Administration Committee.  
Attachments:  
Presentation  
Consent Calendar (Items 2 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.  
2.  
Approval of Minutes  
Clerk of the Board  
Recommendation(s)  
Approve the minutes of the April 23, 2025 Finance and Administration Committee  
meeting.  
Attachments:  
Minutes  
3.  
Real Estate Administration, Internal Audit Report No. 25-506  
Gabriel Tang/Janet Sutter  
Overview  
The Internal Audit Department of the Orange County Transportation Authority has  
completed an audit of real estate administration. Based on the audit, controls over real  
estate administration could be improved. Five recommendations have been made to  
develop procedures for implementing fair market adjustments, improve documentation of  
approval for negotiated lease rates, document reviews of insurance requirements, develop  
procedures for periodic inspection of leased properties, and to implement procedures for  
collection of late payment fees.  
Recommendation(s)  
Direct staff to implement five recommendations provided in Real Estate Administration,  
Internal Audit Report No. 25-506.  
Attachments:  
Staff Report  
Attachment A  
4.  
Transportation Development Act, Triennial Performance Audits  
Ricco Bonelli/Janet Sutter  
Overview  
Triennial performance audits have been conducted of the Orange County Transportation  
Authority, the Orange County Transit District, and the Laguna Beach Municipal Transit  
Lines for fiscal years 2021-22 through 2023-24. These audits are required by the  
Transportation Development Act. The audits found the Orange County Transportation  
Authority and the Orange County Transit District in compliance with applicable sections of  
the California Public Utilities Code.  
The Laguna Beach Municipal Transit Lines was found to have met all compliance  
requirements with respect to applicable sections of the California Public Utilities Code  
except for filing its fiscal year 2023-24 State Controller’s Report within seven months of the  
end of the fiscal year. The audit offered three recommendations to the City of Laguna  
Beach to improve implementation of its long-term goals and objectives, strengthen its  
reporting process, and to ensure timely submissions to the State Controller’s Office.  
Recommendation(s)  
A.  
Receive and file the Triennial Performance Audit of the OCTA as the Regional  
Transportation Planning Entity, fiscal year 2021-22 to fiscal year 2023-24, as an  
information item.  
B.  
C.  
Receive and file the Triennial Performance Audit of the Orange County Transit  
District, fiscal year 2021-22 to fiscal year 2023-24, as an information item.  
Direct staff to monitor implementation of recommendations included in the Triennial  
Performance Audit of the City of Laguna Beach - Laguna Beach Municipal Transit  
Lines, fiscal year 2021-22 to fiscal year 2023-24.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
Attachment C  
5.  
Amendment to Agreement for On-Call Commercial Real Estate Brokerage Services  
Joe Gallardo/James G. Beil  
Overview  
On August 24, 2020, the Orange County Transportation Authority Board of Directors  
approved an agreement with CBRE, Inc. for on-call commercial real estate brokerage  
services for leasing and disposing of anticipated excess land owned by the Orange County  
Transportation Authority. An amendment to the existing agreement is requested for  
continued on-call commercial real estate brokerage services for an additional six months.  
Recommendation(s)  
Authorize the Chief Executive Officer to negotiate and execute Amendment No. 2 to  
Agreement No. C-0-2160 between the Orange County Transportation Authority and CBRE,  
Inc., in the amount of $268,000, for additional on-call commercial real estate brokerage  
leasing services and extend the term of the agreement for an additional six months through  
March 31, 2026. This will increase the maximum cumulative obligation of the agreement to  
a total contract value of $318,000 for leasing services.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
6.  
Orange County Transportation Authority Investment and Debt Programs Report -  
March 2025  
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 March 31, 2025. 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  
7.  
Annual Update to Investment Policy  
Robert Davis/Andrew Oftelie  
Overview  
The Treasurer is presenting the Orange County Transportation Authority’s Proposed Fiscal  
Year 2025-26 Investment Policy. The governing body of a local agency is required to  
annually renew the delegation of authority for the Treasurer to invest, reinvest, purchase,  
exchange, sell, or manage public funds for a period of one year. Additionally, and as  
recommended under California Government Code Section 53646(a)(2), the Orange  
County Transportation Authority is submitting its Proposed Fiscal Year 2025-26 Investment  
Policy to be reviewed at a public meeting.  
Recommendation(s)  
A.  
Adopt the Fiscal Year 2025-26 Investment Policy July 1, 2025.  
B.  
Authorize the Treasurer, to invest, reinvest, purchase, exchange, sell, and manage  
Orange County Transportation Authority funds during fiscal year 2025-26.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
8.  
Fiscal Year 2024-25 Third Quarter Grant Reimbursement Status Report  
Sam Kaur/Andrew Oftelie  
Overview  
The Quarterly Grant Reimbursement Status Report summarizes grant activities for the  
Orange County Transportation Authority Board of Directors. This report focuses on activity  
for the third quarter of fiscal year 2024-25, covering January through March 2025.  
Recommendation(s)  
Receive and file as an information item.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
Attachment C  
Attachment D  
Regular Calendar  
There are no Regular Calendar items scheduled.  
Discussion Items  
9.  
Fiscal Year 2025-26 Budget Workshop Follow-up  
Victor Velasquez/Andrew Oftelie  
Overview  
Budget staff is available for follow-up questions, issues, or concerns that may have arisen  
at and/or since the budget workshop conducted with the Board of Directors on May 12,  
2025.  
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, May 28, 2025  
OCTA Headquarters  
Board Room  
550 South Main Street  
Orange, California