FROM: James D. Herberg, General Manager
Originator: Lorenzo Tyner, Assistant General Manager
SUBJECT:
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MID-YEAR CONSOLIDATED FINANCIAL REPORT FOR THE PERIOD ENDED DECEMBER 31, 2019
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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, 2019.
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BACKGROUND
Included in this consolidated report are the following mid-year financial reports for the period ended December 31, 2019:
* 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 (Sanitation District) for the period ended December 31, 2019.
* Mid-Year Treasurer's Report
This section reports on financial portfolio performance with respect to the Sanitation District'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 the Sanitation District's investment manager, Chandler Asset Management.
* Mid-Year 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 mid-year treasurer's report contained within the Consolidated Financial Reports for the period ended December 31, 2019 is being submitted in accordance with the Sanitation District'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 i...
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