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Board accepts Measure R bond audit showing unmodified opinion and $1.6M cash balance
Summary
Christy White Associates presented a clean performance and financial audit for Measure R bond building funds; the board voted to accept the audit after auditors reported compliance with ballot language and Prop 39 procedures.
Lily Novoa, a CPA with Christy White Associates, presented the audit report for the Measure R bond building fund for the fiscal year ended June 30, 2024. Novoa told trustees the audit yielded an unmodified opinion, the best audit outcome, and that the fund held about $1.6 million in cash as of the reporting date; the firm also tested more than three-quarters of non-personnel expenditures and found them allowable and in compliance with the measure’s ballot language.
Lily Novoa (Speaker 9) said, “So a lot of language to say that we have issued an unmodified opinion which is the best opinion that you can receive.”
Trustees moved to accept the audit; a motion was made and seconded and roll-call affirmations were recorded. Board members asked routine clarifying questions about internal controls and contract testing; auditors said they identified no significant deficiencies or material weaknesses and that performance procedures required under Prop 39 were satisfied.
