NEW LEGISLATION REQUIRES PROP 39 AUDITS TO BE ANNUALLY REVIEWED BY CITIZENS’ OVERSIGHT COMMITTEE
October 26, 2011
Senate Bill (SB) 423 requires a school district, community college district, or county office of education to submit the performance and financial audits required for its Proposition 39 (Prop. 39) general obligation bond to the agency’s citizens’ oversight committee by March 31 each year. Prop. 39 amended theCaliforniaconstitution to allow a school district, community college district, or county office of education to pass a bond for the construction, reconstruction, rehabilitation, or replacement of school facilities by 55% voter approval, so long as the proposition seeking the bond required certain specific accountability measures. Two of the accountability measures are completing an annual, independent performance and financial audit and forming a citizens’ oversight committee to review and make recommendations regarding the use of bond proceeds. This new bill amends Education Code section 15286 to clarify that the audits should be reviewed on an annual basis by the citizens’ oversight committee.
Shareholder and Facilities & Business Practice Group Co-Chair
© 2011 Lozano Smith