FROM: Robert Thompson, General Manager
Originator: Wally Ritchie, Director of Finance
SUBJECT:
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CONSOLIDATED FINANCIAL REPORT FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2023
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GENERAL MANAGER'S RECOMMENDATION
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RECOMMENDATION:
Receive and file the Orange County Sanitation District First Quarter Financial Report for the period ended September 30, 2023.
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BACKGROUND
Included in this consolidated report are the following quarterly financial reports for the period ended September 30, 2023:
* First Quarter Budget Review
The Budget Review Summary provides the Directors, staff, and general public with a comprehensive overview of the financial results of the Orange County Sanitation District (OC San) through the first quarter ended September 30, 2023.
* First Quarter Treasurer's Report
This section reports on financial portfolio performance with respect to OC San's funds. Both Long-Term and Liquid Operating Monies Portfolios are summarized. A performance summary table can be found in the Additional Information section of this agenda report. The report also contains information on the U.S. and global economic outlook from OC San's investment manager, Chandler Asset Management. Additionally, the Section 115 Trust quarterly performance report is included. The Section 115 trust is administered by Public Agency Retirement Services (PARS), managed by HighMark Capital, and was established to prefund pension obligations.
* First Quarter Certificates of Participation (COP) Report
The report includes a summary of each outstanding debt issuance and a comparative chart illustrating the COP rate history.
RELEVANT STANDARDS
* Quarterly financial reporting
ADDITIONAL INFORMATION
The first quarter treasurer's report contained within the Consolidated Financial Report for the first quarter ended September 30, 2023 is being submitted in accordance with OC San's investment policy that requires the report be submitted to the governing body...
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