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Financial Reporting Award Indicative of OCTA’s Transparency to Taxpayers

OCTA was recently recognized by the leading association of government finance professionals for excellence and transparency in financial reporting.

The Government Finance Officers Association of the United States and Canada last month awarded OCTA the Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report for the fiscal year that ended in June 2019.

OCTA has received the high honor each year since it was founded in 1991.

The Certificate of Achievement is the association’s highest recognition for government accounting and financial reporting. It is judged by an impartial panel of experts from the association who review the report for its ability to clearly communicate the agency’s financial story and for a “spirit of full disclosure.”

“OCTA prides itself on being transparent with the taxpayers of Orange County and this award is another clear indication that we are achieving that goal,” said OCTA Chairman Steve Jones, also the Mayor of Garden Grove. “Through the tremendous work of our staff and Board, we will continue to fulfill our responsibility to wisely and efficiently use the funds entrusted to OCTA to improve our transportation system and, ultimately, our residents’ quality of life.”

OCTA has an annual budget of $1.4 billion, approved by a 17-member Board of Directors each year after a budget workshop, numerous updates in public committee meetings and the board’s annual public hearing.

An independent,11-member Taxpayer Oversight Committee (TOC) also holds an annual compliance hearing to ensure that funds from OC Go, also known as Measure M, the county’s half-cent sales tax for transportation improvements, are being administered in accordance with the ordinances that were first approved by voters in 1990 and overwhelmingly renewed for 30 years in 2006.

The TOC has determined for 29 consecutive years that Measure M is being delivered to voters as promised. For more information on the committee, click here.

During the uncertainty of the coronavirus (COVID-19) pandemic impacts, OCTA continues to provide frequent financial updates to the Board of Directors for utmost transparency and accountability.

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