Citizens Bond Oversight Committee reports $67M spent of $92M bond; board accepts several completion notices and contract actions

The El Segundo Unified School District Board of Education on Feb. 25 received a fiscal-year 2023–24 annual report from the district’s Citizens Bond Oversight Committee and approved several construction-related actions, including notices of completion for multiple building projects.

Cheryl Smith, a member of the Citizens Bond Oversight Committee, told the board the bond measure raised $92,000,000 and that the committee’s review shows about $67,000,000 in expenditures so far. "With a thunderball of support of 63.32 percent of the voters, they said yes," Smith said, describing voter approval for new classrooms, upgrades and repairs.

The report broke down recent spending and projects. Smith said the district earned roughly $3,500,000 in interest income, paid about $1,200,000 in bond issuance costs and recorded an unrealized fair-market-value adjustment of about $1,500,000. She told the board the largest category of spending has been new construction and cited three major projects comprising roughly $39,000,000: the middle school gym, a high school band building, and the Richmond Street six-classroom building. Smith also summarized site-level spending last year as approximately $14,700,000 and listed approximate allocations by site: Center Street ~$93,000; district office ~$840,000; El Segundo High School ~$7.1 million; Richmond Street ~$4.5 million; and the middle school ~$1.3 million.

Smith said the committee’s independent financial audit noted the same unrealized market adjustment and that the district is taking steps to address it. She reported no performance-audit findings and said the committee found the district to be in compliance with "article 13 a section 1 b 3 of the California constitution" and that bond funds are being used for the purposes specified in the ballot language.

On district business related to the bond program, the board voted unanimously to approve several actions presented by staff member Miss Linz. Smith and Miss Linz flagged that the district is nearing the end of some projects and that unused allowances have been returned in some change orders.

Notable approved actions included: - Approval of contract change order No. 2 to the agreement with Archico Design Build Inc. for the 24-006 District Office modernization site work project. Miss Linz told the board there were "a number of unforeseen circumstances" and that the change order contains a "deduction of unused allowance." The motion passed, 5–0. - Approval of final Division of the State Architect (DSA) fees related to the 22-4 El Segundo Middle School gymnasium project to close out that project; motion passed, 5–0. - Acceptance of notice of completion for the districtwide HVAC project; staff said approximately 28 HVAC units were replaced. Motion passed, 5–0. - Acceptance of Work Authorization Letter No. 14 with Teleco Construction to continue bond accounting support through summer 2026; motion passed, 5–0. - Acceptance of notices of completion for the El Segundo High School band and CBI building project and for the Richmond Street six-classroom building; both motions passed, 5–0.

Board members thanked the committee for its oversight. Smith noted the bond oversight committee will have several open seats and encouraged community members to apply.

The board’s actions close out several major construction items funded by the bond and shift the program toward final accounting and smaller remaining tasks, officials said.

Votes at a glance - Contract change order No. 2, Archico Design Build Inc. (District Office modernization, 24-006): passed 5–0. - Final DSA fees (El Segundo Middle School gym, 22-4): passed 5–0. - Notice of completion: districtwide HVAC (approx. 28 units replaced): passed 5–0. - Work Authorization No. 14, Teleco Construction (bond accounting support through summer 2026): passed 5–0. - Notice of completion: El Segundo High School band and CBI building: passed 5–0. - Notice of completion: Richmond Street six-classroom building: passed 5–0.

Sources and reporting note: totals and line-item amounts in this article are taken from Cheryl Smith’s presentation to the board and rounded as she presented them. Where Smith used shorthand or round figures, the article reports those figures as she described them.