Metro has developed this financial section to provide relevant and timely information for individuals interested in its financial data. Here you will find information about Metro's debt and investment policies and programs, bond issuance, annual reports, the annual budget, and other matters of financial interest.
Metro financial information is produced by the offices of Accounting, Management & Budget (OMB), Revenue and Treasury. The Finance offices analyze fiscal issues and advise Metro Board of Directors in the areas of short-term and long-term financing, fund planning, revenue forecasting, operating and capital budgets and compliance with accounting standards.
Per California State Law, Metro adopts an investment policy annually. Metro's investment policy affords Metro a broad spectrum of investment opportunities as long as the investment is deemed prudent and is authorized under the California Government Code Section 53600, et seq.
Metro has invested in U. S. Treasury Securities, Commercial Paper, Corporate Notes and Bonds and other secure investments. Operating funds are maintained in commercial banks where idle balances are invested as permitted by State law in certificates of deposit, money market accounts and other investments.
Restricted cash and investments with fiscal agents represents restriced monies held by Trustees for payment of debt service principal and interest expense, also included are funds set aside for cost overruns on capital projects, and self-insurance reserves for worker's compensation and public liability/property damage claims.
Metro’s Investment Program encompasses those assets managed internally by Treasury Department staff and by external investment managers. The short-term portfolios managed internally are earmarked to cover near-term operating expenses. The externally managed portfolios are invested in medium to long-term higher yielding investments.
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