Financials
Financials
The Finance and Administration Division supports the Authority’s goals and objectives through a wide range of fiduciary and administrative activities. This division analyzes fiscal issues and advises the Board of Directors in the areas of long-term financing, fund planning, annual budget, 91 Express Lanes and compliance with generally accepted accounting standards.
Overview
Staff works closely with federal, state, and local agencies to ensure the continued and successful receipt of grant funding and compliance with enabling regulations. The division is responsible for contract management and purchasing activities. The Information Systems Department provides guidance for the implementation of technology, while the General Services Section oversees facilities management, records management, and a variety of other support functions.
OCTA has retained an independent registered municipal advisor, for its debt management program and for advise on proposals from financial services firms concerning the issuance of municipal securities and municipal finance products.
OCTA issues long-term debt primarily to finance a portion of the capital costs of Orange County's transportation system.
The “Approved Budget” is organized by funds/divisions and outlines projected revenues and appropriations. In addition, detailed justifications for line item controlled services and capital/fixed assets are provided in separate, supplemental volumes.
The Comprehensive Business Plan (CBP) is a business planning tool designed to assist the OCTA in implementing its strategic goals and objectives. The CBP encapsulates OCTA’s programs and outlines their goals and objectives, as articulated by the Board of Directors.
As management of the 91 Express Lanes Fund, an enterprise fund of the Orange County Transportation Authority, we offer an overview and analysis of the 91 Express Lanes financial activities for the fiscal year.
As management of the 405 Express Lanes Fund, an enterprise fund of the Orange County Transportation Authority, we offer an overview and analysis of the 405 Express Lanes financial activities for the fiscal year.
The financial statements are presented in conformity with generally accepted accounting principles and were audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants.