Orange County Transportation Authority  
Finance and Administration Committee Agenda  
Thursday, January 15, 2026 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  
Accessibility  
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 Go  
Closed Session  
There are no Closed Session items scheduled.  
Special Calendar  
1.  
Investment Management Presentation - Chandler Asset Management  
Robert Davis/Andrew Oftelie  
Overview  
Chandler Asset Management is one of four firms contracted by the Orange County  
Transportation Authority to oversee the Managed Investment Portfolio. Representatives  
from Chandler Asset Management will provide an introduction to their firm, along with  
market insights and an update on Orange County Transportation Authority’s portfolio.  
Attachments:  
Presentation  
Consent Calendar (Items 2 through 7)  
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 December 3, 2025, Finance and Administration Committee  
meeting.  
Attachments:  
Minutes  
3.  
Employee Commuter Club Program, Internal Audit Report No. 26-505  
Gabriel Tang/Janet Sutter  
Overview  
The Internal Audit Department of the Orange County Transportation Authority has  
completed an audit of the Employee Commuter Club Program. Based on the audit, system  
controls are adequate and functioning and redemptions of points earned are accurately  
processed through payroll. However, operating and inventory controls related to  
identification and award of points earned and gift cards distributed need improvement and  
oversight controls, required by policy, have not been implemented. Four recommendations  
for improvement have been offered.  
Recommendation(s)  
Direct staff to implement four recommendations provided in Employee Commuter Club  
Program, Internal Audit Report No. 26-505.  
Attachments:  
Staff Report  
Attachment A  
4.  
Fiscal Year 2025-26 Internal Audit Plan, Second Quarter Update  
Janet Sutter  
Overview  
The Orange County Transportation Authority Board of Directors adopted the Orange  
County Transportation Authority Internal Audit Department Fiscal Year 2025-26 Internal  
Audit Plan on July 14, 2025. This report provides an update on activities for the second  
quarter of the fiscal year.  
Recommendation(s)  
Receive and file the second quarter update to the Orange County Transportation Authority  
Internal Audit Department Fiscal Year 2025-26 Internal Audit Plan as an information item.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
Attachment C  
5.  
Fiscal Year 2024-25 Single Audit and Agreed-Upon Procedures Reports  
Janet Sutter  
Overview  
The Orange County Transportation Authority is required by the United States Office of  
Management and Budget Circular A-133 to obtain an independent auditor’s opinion on its  
compliance with requirements of major federal programs. Crowe LLP, an independent  
accounting firm, has completed the required Single Audit Report and issued an  
unmodified, or “clean”, opinion. In addition,Crowe LLP has issued reports on the results of  
agreed-upon procedures applied to assist management in determining compliance with  
certain other state, federal, and local requirements.  
Recommendation(s)  
Receive and file the fiscal year 2024-25 Single Audit Report and agreed-upon procedures  
reports as information items.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
Attachment C  
Attachment D  
Attachment E  
Attachment F  
6.  
Fiscal Year 2025-26 First Quarter Budget Status Report  
Victor Velasquez/Andrew Oftelie  
Overview  
Orange County Transportation Authority staff have implemented the fiscal year 2025-26  
budget. This report summarizes the material variances between the budget and actual  
revenues and expenses through the first quarter of fiscal year 2025-26.  
Recommendation(s)  
Receive and file as an information item.  
Attachments:  
Staff Report  
Attachment A  
7.  
Orange County Transportation Authority Investment and Debt Programs Report -  
November 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 November 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  
Regular Calendar  
There are no Regular Calendar items scheduled.  
Discussion Items  
8.  
Public Comments  
9.  
Chief Executive Officer's Report  
Committee Members' Reports  
10.  
11.  
Adjournment  
The next regularly scheduled meeting of this Committee will be held:  
10:30 a.m. on Thursday, February 19, 2026  
OCTA Headquarters  
550 South Main Street  
Orange, California