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Citizens Bond Oversight Committee presents audit findings; board approves bond sale authorization up to $140 million
Summary
The CBOC reported no issues in the performance and financial audits it reviewed for the district's bond measures; the board approved a resolution authorizing general-obligation bonds not to exceed $140 million.
Jerry Gonzalez, president of the Citizens Bond Oversight Committee, presented the committee nnual report and the results of performance and financial audits for district bond measures covering fiscal year 2023 nd'024. Gonzalez told trustees the audits reviewed showed no issues within the scope examined.
Gonzalez noted that the committee is newly reconstituted, that outreach is underway to fill one vacancy, and that the committee—xpects to continue quarterly reviews. He stressed the committee has not yet audited earlier years when large sums were spent and that a historical review remains under consideration.
Following the CBOC presentation, the board adopted Resolution No. 24-82 authorizing a negotiated sale and bond purchase agreement for general-obligation bonds with an aggregate principal amount not to exceed $140 million. The resolution passed on a 5-0 roll-call vote with Trustees Priest and Silva absent.
The CBOC said its next meeting is scheduled for Aug. 20 at Cesar Chavez High School. District staff and trustees thanked committee members for their work in restoring oversight after a lapse in committee activity.
