FROM: Robert Thompson, General Manager
Originator: Wally Ritchie, Director of Finance
SUBJECT:
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INVEST AND/OR REINVEST ORANGE COUNTY SANITATION DISTRICT'S FUNDS AND ADOPT INVESTMENT POLICY STATEMENT
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GENERAL MANAGER'S RECOMMENDATION
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RECOMMENDATION:
Adopt Resolution No. OC SAN 26-10 entitled: "A Resolution of the Board of Directors of the Orange County Sanitation District, Authorizing the Orange County Sanitation District's Treasurer to Invest and/or Reinvest the Orange County Sanitation District's Funds, Adopting the Orange County Sanitation District's Investment Policy Statement and Performance Benchmarks, and Repealing Resolution No. OC SAN 25-20".
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BACKGROUND
This agenda item presents updates to the Orange County Sanitation District (OC San) Investment Policy Statement for consideration by the Administration Committee as it is the oversight committee for the Investment Policy (Section 19.2). Proposed changes to the Investment Policy are as follows:
- Addition of California SB 827 training requirements for local agency officials in Section 5.1. Local agency officials are required to receive at least 2 hours of fiscal and financial training at least once every 2 years.
- Addition of California SB 852 requirement for public officials who manage a local agency's investment to file Form 700 Statement of Economic Interest through the Fair Political Practices Commission's electronic filing system in Section 6.0.
- Additional language in Internal Controls Section 16.0 related to the establishment and maintenance of an internal control structure designed to ensure that the assets of OC San are protected from loss, theft, fraud or misuse.
With adoption of the Resolution, the Board of Directors would readopt OC San's Investment Policy Statement, portfolio performance benchmarks, and monitoring and reporting requirements for Fiscal Year 2026-2027.
RELEVANT STANDARDS
* Comply with OC San Policy: OC San Investment Policy
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