Orange County Transportation Authority

Finance and Administration Committee Agenda

Wednesday, November 12, 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

William Go

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

There are no Special Calendar matters.

Consent Calendar (Items 1 through 3)

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 October 22, 2025 Finance and Administration Committee

meeting.

Attachments:

Minutes

Orange County Transportation Authority Investment and Debt Programs Report -

September 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 September 30, 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

Orange County Employees Retirement System Early Payment for Fiscal Year

2026-27

Robert Davis/Andrew Oftelie

Overview

The Orange County Employees Retirement System has offered an early payment discount

of seven percent to member agencies if they elect to prepay their contributions for fiscal

year 2026-27. Advance payments must be received by January 15, 2026. The estimated

savings for the Orange County Transportation Authority over the next year and a half under

this payment option will total approximately $1,141,000. Board of Directors’ authorization

is requested for the early payment option.

Recommendation(s)

Authorize the early payment of approximately $38.1 million by January 15, 2026, to the

Orange County Employees Retirement System, for employer contributions for fiscal year

2026-27.

Attachments:

Staff Report

Regular Calendar

Fiscal Year 2024-25 Audited Financial Statements and Independent Auditor's

Reports on Internal Control Over Financial Reporting

Rima Tan/Andrew Oftelie

Overview

The Orange County Transportation Authority is required to obtain an independent auditor’s

opinion on various financial statements and schedules. Crowe LLP, an independent

accounting firm, has completed its annual audit of the Orange County Transportation

Authority for fiscal year 2024-25. In addition, a report has been issued on the results of

additional analysis performed by Crowe LLP to assist management in determining

compliance with certain state requirements.

In connection with the annual audit of the Orange County Transportation Authority, Crowe

LLP has issued its auditor’s report on internal control over financial reporting with no

deficiency.

Recommendation(s)

Receive and file the fiscal year 2024-25 audited financial statements and independent

auditor’s report on internal control over financial reporting as information items.

Attachments: