Orange County Board of Supervisors Vice Chair Katrina Foley issued a statement following a recent Board discussion on Item S43L, refuting claims made by the Treasurer-Tax Collector that exaggerated the county’s fiscal risks.

“Our discussion clarified that the County does not face a cash crisis,” Foley stated. She highlighted that while seasonal cash-flow pressures are common, they are effectively managed, and the county remains within policy thresholds for its financial obligations.

Foley emphasized the importance of grounding oversight in facts and maintaining public confidence. She noted Fitch’s recent affirmation of the Orange County Treasury Pool’s high ratings, reflecting a conservative fiscal strategy.

The county’s investment structure shifts oversight from the Treasurer-Tax Collector to the Board of Supervisors and the County Executive Office beginning in 2025. The Board has maintained authority over County Treasury investments, appointing a County Investment Manager within the Executive Office.

In December 2024, the Board opted not to renew the investment authority delegation to the Treasurer-Tax Collector, transferring it to the CEO with Board oversight. This decision followed reports of employee complaints and management issues within the Treasurer-Tax Collector’s office.

Foley also raised concerns regarding a delayed asset schedule that threatened the timing of the Annual Comprehensive Financial Report, emphasizing the need for improved communication and coordination in managing county finances.

For media inquiries regarding Vice Chair Foley, contact Latisha Townsend at (714) 559-8364.

https://board.oc.gov/meetings-agendas

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Vice Chair Katrina Foley was elected to the Board of Supervisors in 2022 to represent the newly established District 5, which includes the cities of Aliso Viejo, Costa Mesa, Dana Point, a large portion of Irvine, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Newport Beach, San Clemente, San Juan Capistrano, as well as the unincorporated areas of Coto de Caza, Emerald Bay, Ladera Ranch, Las Flores, Rancho Mission Viejo, Stonecliffe and Wagon Wheel. This is her second term on the Board of Supervisors, where she previously served District 2. 

 Vice Chair Foley’s 2026 Board appointments include: 

• Chair – Orange County Housing Finance Trust  
• Orange County Fire Authority (OCFA) 
• Orange County Transportation Authority (OCTA)  
• Orange County Audit Oversight Committee 
• OC Public Libraries Advisory Board  
• Newport Bay and South Orange County Watershed Executive Committees  
• Transportation Corridor Agency – Foothill/Eastern 
• Transportation Corridor Agency – San Joaquin Hills 
• Coastal Greenbelt Authority