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Controller’s auditors report 2016 bond expenditures complied with ballot language
Summary
The city services auditor and external consultant told the committee their audit of $34.2M in 2016 bond expenditures found 100% of tested spending complied with the ballot language; auditors recommended continued monitoring and scheduling future audits for active bonds.
Mark Dela Rosa, acting director of audits in the City Services Auditor division, and an external consultant reported to the Citizens GO Bond Oversight Committee that their recent audit of 2016 affordable housing bond expenditures found the tested sample was spent in accordance with the ballot measure.
Why it matters: The committee oversees whether bond proceeds are used as voters approved. An independent audit that finds compliance reduces…
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