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Board accepts clean bond audit and reviews OPEB trust balance
Summary
Board accepted the district's bond performance audit (no findings) and reviewed the quarterly GASB 45 OPEB trust statement showing approximately $317,000 in the OPEB trust, with a reported target need near $407,000.
Brandy presented the bond performance audit and the quarterly GASB 45 statement for the district's post‑employment benefits trust and bond funds. The bond audit for the fiscal year ending 06/30/2025, conducted by Christy White, showed no findings and confirmed compliance with Prop 39 and Measure 8 spending restrictions; Brandy credited Van Pelt and internal staff for maintaining compliance.
On the OPEB/GASB 45 item Brandy said the trust currently holds about $317,000 and that the district will need about $407,000 to meet the reported obligations; she explained the OPEB funds were previously held by a joint powers association and were transferred to the district when that arrangement ended. Trustees accepted both the bond audit and the GASB 45 quarterly statement by unanimous votes.
The board also approved a resolution to update district signatories (removing Tanya and adding Brandy) for administered programs so that Brandy can sign on behalf of the district in the identified programs.
