Orange County Transportation Authority  
Finance and Administration Committee Agenda  
Thursday, June 18, 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  
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 Leon  
Closed Session  
There are no Closed Session items scheduled.  
Special Calendar  
1.  
Taxable Sales Forecast - Chapman University  
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 2026. Raymond Sfeir, PhD, from Chapman University 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 11)  
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 May 21, 2026 Finance and Administration Committee.  
Attachments:  
Minutes  
3.  
Ralph M. Brown Act Compliance, Internal Audit Report No. 26-512  
Gabriel Tang/Janet Sutter  
Overview  
The Internal Audit Department of the Orange County Transportation Authority has  
completed an audit of compliance with the Ralph M. Brown Act. Based on the audit, the  
Orange County Transportation Authority complies with Ralph M. Brown Act requirements;  
however, one recommendation was made to management to retain evidence of  
compliance with physical posting requirements.  
Recommendation(s)  
Direct staff to implement one recommendation provided in Ralph M. Brown Act  
compliance, Internal Audit Report No. 26-512.  
Attachments:  
Staff Report  
Attachment A  
4.  
91 Express Lanes Update for the Period Ending - March 31, 2026  
Kirk Avila/Anthony Rodriguez  
Overview  
The Orange County Transportation Authority has owned and managed the operations of  
the 91 Express Lanes since January 2003. Since then, traffic volumes and toll revenues  
have fluctuated with changes in the economy and the added capacity to the State Route 91  
corridor. During the month of March 2026, approximately 1.94 million trips were taken, and  
over 5.34 million trips were made during the first quarter of calendar year 2026 on the 91  
Express Lanes in Orange County. This report focuses on the operational and financial  
activities for the period ending March 31, 2026.  
Recommendation(s)  
Receive and file as an information item.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
5.  
405 Express Lanes Update for the Period Ending - March 31, 2026  
Kirk Avila  
Overview  
The Orange County Transportation Authority oversees the operations of the 405 Express  
Lanes, which commenced on December 1, 2023.  
During the month of March 2026,  
transactions increased 14.3 percent while trips grew by 8.4 percent on the 405 Express  
Lanes. For the quarter-ending March, transactions totaled 18.0 million and trips were 4.5  
million. This report focuses on the operational and financial activities for the period ending  
March 31, 2026.  
Recommendation(s)  
Receive and file as an information item.  
Attachments:  
Staff Report  
Attachment A  
6.  
Orange County Transportation Authority Investment and Debt Programs Report -  
April 2026  
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 April 30, 2026. 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.  
Environmental  
March 31, 2026  
Mitigation  
Program  
Endowment  
Fund  
Investment  
Report  
for  
Robert Davis/Andrew Oftelie  
Overview  
The Orange County Transportation Authority has developed  
a
Natural Community  
Conservation Plan/Habitat Conservation Plan, acquired conservation properties, and  
funded habitat restoration projects to mitigate the impacts of the Measure M2 Freeway  
Program. The California Community Foundation manages the non-wasting endowment  
required to fund the long-term management of the conservation properties. Each quarter,  
the California Community Foundation publishes a comprehensive report detailing the  
composition of the pool and its performance.  
Recommendation(s)  
Receive and file as information item.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
Attachment C  
8.  
Fiscal Year 2025-26 Third 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 third quarter of fiscal year 2025-26.  
Recommendation(s)  
Receive and file as an information item.  
Attachments:  
Staff Report  
Attachment A  
9.  
Fiscal Year 2025-26 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 2025-26, covering January through March 2026.  
Recommendation(s)  
Receive and file as an information item.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
Attachment C  
Attachment D  
10.  
Third Quarter Fiscal Year 2025-26 Procurement Status Report  
Pia Veesapen/Andrew Oftelie  
Overview  
The third quarter procurement status report summarizes the procurement activities for  
information purposes to the Orange County Transportation Authority Board of Directors.  
This report focuses on procurement activity during the third quarter of fiscal year 2025-26,  
from January 1, 2026, through March 31, 2026, that was approved by the Board of  
Directors. The third quarter procurement status report also projects future procurement  
activity for the fourth quarter as identified in the fiscal year 2025-26 budget.  
Recommendation(s)  
Receive and file as an information item.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
Attachment C  
Attachment D  
Attachment E  
Attachment F  
Attachment G  
11.  
Annual Update to Investment Policy  
Robert Davis/Andrew Oftelie  
Overview  
The Treasurer is presenting the Orange County Transportation Authority’s Proposed Fiscal  
Year 2026-27 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 2026-27 Investment  
Policy to be reviewed at a public meeting.  
Recommendation(s)  
A.  
Adopt the Fiscal Year 2026-27 Investment Policy, effective July 1, 2026.  
B.  
Authorize the Treasurer to invest, reinvest, purchase, exchange, sell, and manage  
Orange County Transportation Authority funds during fiscal year 2026-27.  
Attachments:  
Staff Report  
Attachment A  
Attachment B  
Regular Calendar  
There are no Regular Calendar items scheduled.  
Discussion Items  
12.  
13.  
14.  
15.  
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 Thursday, July 16, 2026  
OCTA Headquarters  
550 South Main Street  
Orange, California