The Santa Clarita Community College District’s Independent Citizens’ Bond Oversight Committee voted to accept the result of an independent audit that confirmed the district properly accounted for all bond expenditures in the 2020-21 fiscal year.
The financial and performance audit was conducted by Eide Bailly LLP. The audit firm issued the district an unmodified opinion, and found no audit findings, adjustments, questioning costs or instances of noncompliance. An unmodified opinion is the best rating possible.
The reviewed documents were associated with 54% of expenditures made with bond funds. Everything from purchase orders to contracts were reviewed and were found to be compliant with the state regulations and board policies.
“The financial statement audit tells us the numbers being presented to us are correct, and the performance audit tells us the money being spent is in accordance with the provisions of the bond,” Oversight Committee Chairman Kevin Holmes said at the Jan. 10 board meeting of the district, which governs College of the Canyons.
Sharlene Coleal, assistant superintendent/vice president of business services, attributed the audit’s findings to the work of Jim Schrage, assistant superintendent/vice president of facilities planning, operation and construction, and his team.
“With our departments working together to provide careful fiscal oversight and ensure strict compliance with regulations that govern general obligation bond-funded construction projects, we achieved outstanding audit results,” Coleal said.
The audit showed $21 million on Measure E funds spent during 2022-21. A majority of this money was used for the construction of the Takeda Science Center and the Student Services/Learning Resources Center at the college’s Canyon Country campus
Local voters approved Measure E in June 2016, providing the college with $230 million to invest in facilities upgrades.
“We appreciate the support of our community and take seriously our obligation to maximize the value of Measure E funds, and ensure they are spent as intended,” said Chancellor Dianne G. Van Hook. “The audit results demonstrate our ongoing commitment to sound fiscal management, as well as our intent to continue delivering high-quality facilities and programs that lead to outstanding educational opportunities and expanded access to training for our community.”