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CBOC: El Segundo Unified bond funds being spent as approved; $17 million remains
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Summary
The Citizens Bond Oversight Committee reported the Measure E bond program is largely complete and in compliance with ballot language, with roughly $77.8 million spent and $17 million remaining as of June 30, 2025; recent audit found no new findings.
Garrett Cano, chair of the district’s Citizens Bond Oversight Committee, told the El Segundo Unified School District board that the panel found the district in compliance with the ballot language for Measure E and with constitutional oversight requirements.
"Based on the review and observations of the citizen bond oversight committee, we find that the El Segundo Unified School District is in compliance with the requirements of article 13a section 1b3 of the California Constitution and that funds are being used for the purposes specified in the ballot language," Cano said during the presentation.
Cano reviewed the numbers for fiscal year ending June 30, 2025: the bond originally approved in 2018 totaled $92,000,000; about $77,800,000 has been spent on construction and modernization to date, and the fund balance remaining was reported at approximately $17,000,000. Committee members reported total expenditures in the most recent fiscal year of about $10,800,000 and that, overall, the program is roughly 94% expended.
The committee outlined its role under Proposition 13, and the Prop 39 implementing guidance, emphasizing that oversight focuses on whether bond proceeds are spent only on the projects and purposes approved by voters. Cano described quarterly reviews of budgets, commitments and expenditures, and said the committee had requested refinements in how contractors and staff present financials so they can better “punch holes and ask questions.”
Cano also reviewed a prior audit finding from an earlier year and said the committee required and saw implementation of internal controls and a corrective action plan; the most recent independent audit produced no new findings.
Board members thanked the committee for its work and noted that the district is near the tail end of bond proceeds; Cano said next year’s report will look different as the program moves toward closeout and punch‑list work.
What’s next: the district will continue to monitor remaining bond projects and expenditures as the committee transitions to end‑of‑program oversight and final reporting.
