NEW LEGISLATION REQUIRES PROP 39 AUDITS TO BE ANNUALLY REVIEWED BY CITIZENS’ OVERSIGHT COMMITTEE

October 2011
Number 67

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.

If you have any questions regarding SB 423 or bond funds, please contact one of our eight offices located statewide, visit our website, or follow Lozano Smith on Facebook.

Written by:

Megan Macy
Shareholder and Facilities & Business Practice Group Co-Chair
Sacramento Office
mmacy@lozanosmith.com

Anne Collins
Associate
Sacramento Office
acollins@lozanosmith.com

© 2011 Lozano Smith

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