FROM: Robert Thompson, General Manager
Originator: Wally Ritchie, Director of Finance
SUBJECT:
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MID-YEAR FINANCIAL REPORT FOR THE PERIOD ENDED DECEMBER 31, 2024
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GENERAL MANAGER'S RECOMMENDATION
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RECOMMENDATION:
Receive and file the Orange County Sanitation District Mid-Year Financial Report for the period ended December 31, 2024.
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BACKGROUND
Included in this report are the following mid-year financial reports for the period ended December 31, 2024:
* Mid-Year Budget Review
The Budget Review Summary provides the Directors, staff, and general public with a comprehensive overview of the mid-year financial results of the Orange County Sanitation District (OC San) for the period ended December 31, 2024.
* Mid-Year Treasurer's Report
This section reports on financial portfolio performance with respect to OC San's funds. The report also contains information on the U.S. and global economic outlook from OC San's investment manager, Insight Investment. Additionally, the Section 115 Trust quarterly performance report is included. The Section 115 trust is administered by Public Agency Retirement Services, managed by PFM Asset Management, and was established to prefund pension obligations.
* Mid-Year Certificates of Participation Report
The report includes a summary of each outstanding debt issuance.
RELEVANT STANDARDS
* Quarterly financial reporting
ADDITIONAL INFORMATION
The Mid-Year Treasurer's Report contained within the Mid-Year Financial Report for the period ended December 31, 2024, is being submitted in accordance with OC San's Investment Policy that requires the report be submitted to the governing body following the end of each quarter. None of the portfolios are currently invested in reverse repurchase agreements. All investments are in compliance with the Investment Policy and the California Government Code. Sufficient funds are available for OC San to meet its operating expenditure requirements for the nex...
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