Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Citizens Bond Oversight Committee: Measure I expenditures comply; about $8 million remains
Summary
The CBOC presented its 2024 annual report and said Measure I expenditures were within ballot language; the district has spent roughly $166.7 million of $175 million in bond capacity, leaving about $8 million to close out the final Sonora Science Labs and related items.
The district’s Citizens Bond Oversight Committee presented its annual review of Measure I on Tuesday and reported that expenditures are within the bond language approved by voters. Chair David McLeod summarized the committee’s findings and thanked committee members who conducted site visits and reviewed financials.
Assistant Superintendent Ruben Hernandez told the board that Measure I authorized about $175 million in bond capacity and, with state matching funds during prior phases, helped raise the program’s total construction resources above $200 million in earlier stages. Hernandez said the district has spent approximately $166.7 million of the Measure I bond capacity and estimates about $8 million remains to complete the final Sonora science lab project and close out other items.
"We are pleased to report that all expenditures are within the requirements of the Measure I campaign," CBOC Chair David McLeod told the board as he presented the committee’s 2024 annual report. The committee also noted that Prop 39 requires an annual independent audit; auditors presented findings at a recent committee meeting, which committee members described as favorable.
Staff said they will continue cyclical CBOC meetings, site visits and financial audits as projects wind down.
