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Bond oversight: audit finds Measure G funds spent as promised; district sells $150 million in bonds to fund campus projects
Summary
The board received the Measure G citizens’ bond oversight committee annual report showing no audit exceptions and heard staff say a recent $150 million bond sale produced strong investor demand that lowered financing costs and will fund stadium, TK, and classroom projects.
The Colton Joint Unified School District on Nov. 6 heard from its citizens’ bond oversight committee (CBOC), which reported an independent financial performance audit found no instances of noncompliance and that Measure G bond revenues were spent only as specified in the voter ballot and the board resolution.
CBOC Chair Gary Groshich told the board that Christie White & Associates’ audit covering the 2023–24 year confirmed compliance with Article 13A (Prop 39) of the California Constitution and that no bond funds were used for prohibited operating expenses. "The bond revenue was spent only as specified in the…
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