Annual Financial Information

OCII publishes three pieces of financial information on an annual basis: the budget, annual financial reports, and annual valuation reports.

Budget

The OCII Commission approves the annual budget.  Following Commission approval, staff submit the budget to the Mayor’s Office for review.  The Mayor submits the budget to the Board of Supervisors on May 1 for review. The Board of Supervisors passes the budget in July.  

Annual Financial Reports

OCII prepares the Comprehensive Annual Financial Report in conformance with the principals and standards for accounting and financial reporting set forth by the Governmental Accounting Standards Board.

Annual Valuation Reports

In compliance with CalPERS regulations, OCII publishes the annual actuarial valuation reports for the Classic and PEPRA pension plans.  All new CalPERS members are members of the PEPRA pension plan. A new members is a member 1) who joined CalPERS prior to January 1, 2013, and who, on or after January 1, 2013 is hired by a different CalPERS employer following a break in service of more than six months, 2) a new hire who joined CalPERS for the first time on or after January 1, 2013, and who has no prior membership in another California retirement system, 3) a new hire who joins CalPERS for the first time on or after January 1, 2013, and who was a member of another CalPERS public retirement system prior to that date, but who is not subject to reciprocity upon joining CalPERS.