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Bond measures and parcel tax audits found clean results, auditors say
Summary
Auditors reported unmodified opinions and no performance exceptions for all five bond elections, the parcel tax and the Santa Monica Educational Foundation in FY25 testing, with extensive testing of large disbursements cited as the basis for the clean results.
The board heard that CWDL's testing of the district's five bond elections and the parcel tax showed unmodified audit opinions and no exceptions in performance testing for fiscal 2025.
"In all cases ... an entirely clean result across all 5 Prop 39 bond elections," Ben Levitt said, describing extensive disbursement testing and performance-audit procedures that check whether expenditures align with ballot language.
Levitt also reported an unmodified opinion on the Santa Monica Educational Foundation's financials under FASB standards. Board members raised a technical question about the presentation language ("unqualified" vs. "unmodified"); Levitt said he would confirm correct terminology for the foundation audit.
District and oversight-committee representatives praised the clean results and reminded the board that annual responses to oversight-committee findings are required within three months of receiving the audits.
