The Controller’s Office presented multiple oversight updates to the Citizens GO Bond Oversight Committee on Dec. 8, covering recent audits, nonprofit monitoring results, and possible 2026 bond sales.

Mark De La Rosa, Director of Audits, said the office has issued a handful of performance and compliance audits in recent months, highlighting an audit of Department of Public Health secondary employment controls and an audit of airport procurement that identified inconsistent procurement practices and a lack of formal procurement training. He told the committee the office is completing fieldwork on a geobond expenditure audit for the 2020 Health & Recovery geobond and expects to issue that audit in February 2026.

Natasha Michal, City Performance Director, reviewed nonprofit monitoring and the new contract monitoring policy (effective July 1). She said the long‑standing fiscal compliance monitoring program covers roughly 85% of nonprofit spending and noted common problems driving noncompliance: missing audited financial statements, cash‑flow pressures and staff turnover. Michal said 14 nonprofits are currently on tier 2 corrective action and 2 are on tier 3.

Grant Carson, debt capital markets specialist in Public Finance, said the Office of Public Finance recently priced and closed two series of GO bonds in October and November and has identified candidate prior elections for potential 2026 issuances with kickoffs in spring or summer: Affordable Housing (2019), Health & Recovery (2020), Earthquake Safety & Emergency Response (2020) and Healthy/Safe & Vibrant SF (2024).

Controller staff also said they are developing a framework to identify bonds "near completion" so reporting responsibility at GOBOC can be reduced for programs in financial closeout. Staff proposed calendaring a February discussion with Public Works to finalize an approach for bonds near completion and to relieve update burdens for near‑closed programs.

Committee members asked staff to continue providing details about scope, schedules and reporting timelines when audits and bond‑sales planning move forward.