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Agenda Item (IV-D-1)

Meeting11/7/2017 - Committee
Agenda ItemCommittee - Resources (IV-D-1)
SubjectFY 2016-2017 Proposition 39 Financial and Performance Audits
College/DistrictDistrict
Funding N/A
Recommended ActionIt is recommended that the Board of Trustees receive the Proposition 39 independent financial and performance audits of the District's Measure C general obligation bond for the year ended June 30, 2017 for the permanent file of the District.

Background Narrative:


In accordance with the provisions of Proposition 39, independent financial and performance audits of the District’s Measure C general obligation bond were performed by Clifton, Larson, and Allen LLP (CLA). A representative of the audit firm will be available to present and discuss the reports. Results of the audits are summarized below.

• Auditor’s Opinion – The auditors have issued unmodified opinions for both the financial and performance audits as of June 30, 2017 and 2016.

• Audit Findings – There were no findings or questioned costs related to the financial and performance audits.

• Auditor’s Required Communication – In accordance with the Statement on Auditing Standards No. 114, at the conclusion of the audit engagement CLA is required to communicate information to the Board of Trustees regarding their responsibility under United States Generally Accepted Auditing Standards. Attached for your information is the required communication.

• The audit report was presented to the Citizens Bond Oversight Committee at its regularly scheduled meeting on October 19, 2017.
Prepared By: Aaron Brown, Vice Chancellor, Business and Financial Services
 Melissa Elwood, Controller