FROM: James D. Herberg, General Manager
Originator: Lorenzo Tyner, Assistant General Manager
SUBJECT:
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CONSOLIDATED FINANCIAL REPORT FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2021
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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, 2021.
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BACKGROUND
Included in this consolidated report are the following quarterly financial reports for the period ended September 30, 2021:
* 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, 2021.
* Quarterly 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 on page 2 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.
* Certificates of Participation Quarterly 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 quarterly treasurer's report contained within the Consolidated Financial Reports for the First Quarter Ended September 30, 2021 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 and includes the following information:
* Performance results in comparison with the ICE BAML 3-month treasury bill index for the liquid operating portfolio; and the ICE BAML Corp./Govt. 1-5 Year Bond index for the long-term portfolio as identified...
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