Orange County Transportation Authority

Finance and Administration Committee Agenda

Wednesday, July 10, 2024 at 10:30 a.m.

Board Room, 550 South Main Street, Orange, California

Committee Members

Michael Hennessey, Chair

Patrick Harper, Vice Chair

Andrew Do

Jamey Federico

Stephanie Klopfenstein

Tam T. Nguyen

Vicente Sarmiento

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 listen to audio live streaming of the Board

and 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 Nguyen

Closed Session

There are no Closed Session items scheduled.

Special Calendar

Taxable Sales Forecast - California State University, Fullerton

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 2024. Anil Puri, Provost Emeritus and Director of the Woods

Center for Economic Analysis from California State University Fullerton 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 5)

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.

Approval of Minutes

Clerk of the Board

Recommendation(s)

Approve the minutes of the June 26, 2024 Finance and Administration Committee

meeting.

Attachments:

Minutes

Fiscal Year 2023-24 Internal Audit Plan, Fourth Quarter Update

Janet Sutter

Overview

The Orange County Transportation Authority Board of Directors adopted the Orange

County Transportation Authority Internal Audit Department Fiscal Year 2023-24 Internal

Audit Plan on July 24, 2023. This update is for the fourth quarter of the fiscal year.

Recommendation(s)

Receive and file the fourth quarter update to the Orange County Transportation Authority

Internal Audit Department Fiscal Year 2023-24 Internal Audit Plan as an information item.

Attachments:

Orange County Transportation Authority Internal Audit Department Fiscal Year

2024-25 Internal Audit Plan

Janet Sutter

Overview

At the direction of the Orange County Transportation Authority Board of Directors, the

Internal Audit Department develops and implements an annual risk-based internal audit

plan. Implementation of an annual internal audit plan assists management in evaluating the

effectiveness and efficiency of projects, programs, and operations, while ensuring that

adequate controls and safeguards are in place to protect the Orange County

Transportation Authority’s assets and resources.

Recommendation(s)

Approve the proposed Orange County Transportation Authority Internal Audit

Department Fiscal Year 2024-25 Internal Audit Plan.

Direct the Executive Director of the Internal Audit Department to provide quarterly

updates on the Orange County Transportation Authority Internal Audit Department

Fiscal Year 2024-25 Internal Audit Plan.

Attachments:

Staff Report

Attachment A

Approval to Sell Surplus Land for the Interstate 405 Improvement Project Between

State Route 73 and Interstate 605

Joe Gallardo/James G. Beil

Overview

The Orange County Transportation Authority has substantially completed the freeway

improvements for the Interstate 405 Improvement Project between State Route 73 and

Interstate 605 for public use. The project required acquisition of property rights from public

and private parties adjacent to the existing freeway and city streets to construct the freeway

improvements. Now an approximately 44,540 square-foot improved commercial property

located at 14980 Goldenwest Avenue, in the City of Westminster, Assessor Parcel

Numbers 096-522-02 and 096-522-04, is recommended to be sold as surplus land by the

Orange County Transportation Authority. Staff is seeking approval to sell the vacant land

as surplus land under the Surplus Land Act (Government Code Section 54220 et seq.).

Recommendation(s)

Direct staff to sell the surplus land located within the Interstate 405 Improvement

Project between State Route 73 and Interstate 605 for public use.

Authorize the Chief Executive Officer to negotiate and execute the necessary

documents to complete the sale of the surplus land for the offer price of $4,500,000.

Attachments:

Regular Calendar

Orange County Transportation Authority Investment and Debt Programs Report -

May 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

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 May 31, 2024. During the

month of May, one investment manager purchased a security that did not comply with the

Investment Policy. As a result of this compliance violation, the investment manager has

been placed on probation for one year, in accordance with the requirements of the

Investment Policy.

Recommendation(s)

Receive and file as an information item.