Citizen's Bond Oversight Committee
The purpose of the Committee is to inform the public regarding the expenditure of the proceeds of the Series B Bonds, as required by Article XIIIA. These Bylaws are specifically made subject to the applicable provisions of Article XIIIA as to the duties and rights of the Committee.
As used herein, “Bond Proceeds” means the proceeds of the Bonds which are issued by the District pursuant to Election 2006 Series B. The Committee shall confine itself specifically to Bond Proceeds generated under the Series B resolution. All monies generated from other sources fall outside of the scope of Committee review.
Duties of the Committee
To carry out its stated purposes, the Committee shall perform the following duties:
- Inform the Public. The Committee shall inform the public concerning the District’s expenditure of Bond Proceeds to ensure that Bond Proceeds are expended only for the purposes set forth in the Ballot Measure.
- Review of Bond Expenditures. The Committee shall establish a regular meeting schedule which shall provide for meetings to be conducted at least quarterly. At such meetings, the Committee shall review expenditure reports provided by the District, and, if available, the annual performance audit and financial audit referred to herein, to ensure that (a) Bond Proceeds are expended only pursuant to Article XIIIA and for the purposes set forth in the Ballot Measures; and (b) no Bond Proceeds are used for any teacher or administrative salaries or other operating expenses.
- Annual Report of Committee. Pursuant to California Education Code Section 15280(b), the Committee shall issue a written report on the results of its activities at least once a year. Such report shall be presented to the Board of Trustees, in public session, and shall include the following:
(a) A statement indicating whether the District is in compliance with the requirements of Article XIIIA, Section 1(b)(3) of the California Constitution; and
(b) A summary of the Committee’s proceedings and activities for the preceding year.
The Committee may issue additional written reports as it so determines in order to effectuate its duty to inform the public on the expenditure of Bond Proceeds.
All written reports shall be a matter of public record and shall be provided to the District and made available on the District’s internet website.
- Limited Role of Committee. Pursuant to Article XIIIA, the Committee is charged with overseeing the expenditure of the proceeds of the 2006 Election Series B Bonds, and reviewing and reporting on expenditures after they have been made. The District has not charged the Committee with responsibility for, and the Committee shall not have oversight with respect to matters beyond the scope of reviewing and reporting on the expenditure Bond Proceeds.