6th Annual CaLBOC Statewide Conference
April 25, 2017 - Tuesday
"Bond Oversight Basics"
Executive Director, Little Hoover Commission
Bond Watchdogs Don't Have Much Bite, Says New Little Hoover Commission Report
Groups that oversee government bond spending could stand to grow some teeth, according to a new report. ...
The oversight groups, "By and large ... have proven ineffective and some committee members have told the Commission that is at least in part, by design," wrote the Little Hoover Commission. "Most of the concerns revolved around bond oversight committee members who lack training, have conflicts of interest, either real or perceived, and the difficulty committee members have receiving required documents from the districts."
Those same issues have surfaced in San Diego County, where some appointees represent workers building bond projects and others get paid to lobby the very government officials they oversee.
Among other things, the Little Hoover panel proposed county treasurers review and comment on bond sales before they occur to help prevent poor debt financing decisions by local government agencies.
The commission also recommended changing the oversight committee appointment process, currently handled by district officials the group oversees. The report also recommends committee members play a larger role in selecting bond auditors, and that audits measure effectiveness and results, as well as compliance.
The commission also believes oversight groups should receive a minimal budget to hire independent counsel when needed. Such requests by the oversight committee watching San Diego Unified's $4.9 billion bond program have been denied.
In addition, the commission called on the state Treasurer's office to provide online trainings about bond sales to elected officials, and suggested state leaders allocate one-time funding for the state's school business advisory group, known as the Fiscal Crisis & Management Assistance Team, to put together online training for bond oversight committee members. ...
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San Diego Unified Says It'll Take Millions More on Top of Multibillion-Dollar Bonds to Improve School Buildings
San Diego Unified officials expect the average condition of school buildings to improve from poor to fair by July 2024, but they'll need more money than what two existing multibillion-dollar bond measures will provide, a new district report shows.
created for the citizens' bond oversight committee shows officials are counting on large infusions of cash from the state, the district's general fund and other unspecified sources in the coming years in order to reach and maintain a "fair" rating on the Facility Condition Index, an industry standard for assessing the state of a group of facilities. ...
...Voice of San Diego has unsuccessfully sought updated school FCI figures from the district for weeks, so it is unclear what progress has been made in recent years at each school. No updated figures have been provided to the bond oversight committee, despite
committee member requests for new numbers
When voters approved the $2.8 billion Proposition Z bond measure in 2012, the district's overall FCI was reportedly 18 percent. It was 15 percent when voters passed the $2.1 billion Proposition S bond in 2008, although district officials last year said they believe both of those numbers were too low and didn't account for all the deterioration that existed at the time.
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6th Annual CaLBOC
April 25, 2017 - Tues.
Bond Oversight Basics
D R A F T A G E N D A
Welcome & Introductions
Legal Roles and Responsibilities of CBOCs
11:45-12:15 pm: LUNCH
Little Hoover Commission
The Anton Jungherr Award
Case Studies in
Recent Bond Oversight
Preparing for Your Bond Measure
$50 per person, includes lunch & refreshments.
Provided to Attendees.
To promote school district accountability by improving the training and resources available to California's Proposition 39 School Bond Oversight Committees and educating the state legislature, local school boards and the public about the oversight and reporting powers these Citizens' Bond Oversight Committees (CBOCs) have, and to advocate on a state level, where appropriate, on issues of common concern to all CBOCs.