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Measure C Fiscal Accountability

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Who decides how bond money is spent?
Who approves construction contracts?
Are projects sent out to bid? Who oversees and approves those bids?
Is there an Oversight Committee for Measure C? What does it do?
Who serves on the Oversight Committee?
Is there a system in place that ensures the Board of Trustees and Oversight Committee are fiscally responsible?
Who are the auditors?
What types of audits are involved?
What ratings have Measure C bonds received?


Who decides how bond money is spent?

At College of the Canyons, all general obligation bond funds remain under the control of the Santa Clarita Community College District Board of Trustees.
 

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Who approves construction contracts?

All construction contracts, including any change orders, must be approved by the Board of Trustees in accordance with the California Education Code and Public Contract Code.
 

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Are projects sent out to bid? Who oversees and approves those bids?

The Board of Trustees examines all submitted construction bids, and final bids cannot be awarded without board approval. As part of the district's construction-management system, the district bids each part of every project separately so there is oversight of each portion of every project.

 

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Is there an Oversight Committee for Measure C? What does it do?

The Measure C Citizens Oversight Committee was formed after voters approved Measure C in 2001. It meets regularly in open session to review expenditures and ensure that they fall within the resolution authorized by voters. The books are open, and all meeting agendas and minutes are posted online for public review. This information can be found here: http://www.canyons.edu/offices/PIO/mcoversight.html

 

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Who serves on the Oversight Committee?

When the Board of Trustees appointed the Measure C Citizens Oversight Committee, it accepted all 12 people who applied, although the law required only seven. The original committee included:

Kyle Baron, Canyon Country, member of COC's student government
Michael Berger, Newhall, member of the COC Foundation
Monika Bucknall, Valencia, community/business & senior citizens' organizations
Rita Garasi, Canyon Country
Erick Garcia, Castaic, COC alumnus, member of business community
Jill Harper, Canyon Country, member of senior citizens committee
Mike Lebecki, Stevenson Ranch, member of business organization
Deborah Lynn Weigel Roberts, Valencia, college student decision-making body
Joe Robinson, Canyon Country
Doug Sink, Valencia, Chamber of Commerce
Roy Weygand, Bakersfield, bona fide taxpayer association
Sheldon Wigdor, Canyon Country

The committee's current membership can be viewed here.

 

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Is there a system in place that ensures the Board of Trustees and Oversight Committee are fiscally responsible?

Since Measure C passed, independent auditors have examined the expenditures of Measure C bond funds annually. For the first two years the district asked auditors to examine 100 percent of the transactions, rather than a sampling. The audits have been exemplary, with no recommendations for improvement.

 

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Who are the auditors?

The auditors are Vavrinek, Trine, Day & Co. LLP of Rancho Cucamonga, California.

 

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What types of audits are involved?

The auditors have performed two types of audits: A fiscal audit that examines all of the books to ensure they are accurate and that the district follows all laws and regulations; and a performance audit that ensures that all processes for bidding, contracts, invoicing, approvals and oversight have been followed correctly. Both types of audits determined that the district is in strict and complete compliance.

 

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What ratings have Measure C bonds received?

The college district's bonds have received AA ratings from Standard and Poor's, and Fitch Inc. -- the highest ratings possible for California bonds. These companies determined that the district had extremely strong fiscal management and accountability, based on more than 10 years of maintaining a 6 percent reserve, clean audit, and no deficit spending.

 

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College of the Canyons
Valencia campus: 26455 Rockwell Canyon Road, Santa Clarita, CA 91355 • (661) 259-7800
Canyon Country campus: 17200 Sierra Highway, Canyon Country, CA 91351 • (661) 362-3800
 

Copyright 2001-13 by College of the Canyons. All rights reserved.

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