Annual Performance and Financial Audit

The Measure C performance and financial audits for fiscal year ended June 30, 2019, were prepared by the independent certified public accounting firm of CliftonLarsonAllen, LLP, located in Glendora, California. The financial audit was conducted in accordance with auditing standards generally accepted in the United States and the standards applicable to financial audits contained in Governmental Auditing Standards, issued by the Comptroller General of the United States. The performance audit was prepared in accordance with Education Code Section 15286, which requires that the audit be conducted in accordance with Governmental Auditing Standards, issued by the Comptroller General of the United States.

The Measure C audited financial statements reflect an additional net expense of $1.8 million, the majority of which represents Cost of Issuance that exceeded the premium received for each bond series sale. These net costs are included in total bond program expenses to arrive at the ending fund balance reported in the Measure C Bond audited financial statements. The bond inaccessible authorization of $3,063.61 is reflected in the CBOC reports as the budget of Project 599 Catastrophic Contingency, which was reduced by that amount with Board approval on 4/2/2018. View the complete audit reports