Agenda Item
Meeting Date: 12/10/2019 - 7:00 PM
Category: DISCUSSION ACTION ITEMS
Type: Action
Subject: 12.4 Formal Acceptance of 2018/2019 Annual Measure J Bond Audit
:
Attachment Summary: 2019 Measure J Audit Report
File Attachment:
Livermore Valley Joint USD Bond Audit Report 2019.pdf
Quick Summary / Abstract: District staff and representatives from the firm Nigro and Nigro will
present the District's 2018/2019 Annual Measure J Bond Audit to our
Board of Education for discussion and formal acceptance.
Background: On June 7, 2016, the voters of the Livermore Valley Joint Unified
School District approved Measure J by 66.84%, authorizing the
issuance and sale of $245 million of general obligation bonds. On
October 13, 2016, our District issued Series 2016 of the Election of
2016 General Obligation bonds in the amount of $82 million. On July 30, our District issued Series 2019 of the Election of 2016 General Obligation bonds in the amount of $100 million.

The passage of Proposition 39 in November 2000 amended the
California Constitution to include accountability provisions for general
obligation bonds. Specifically, our District must conduct an annual
independent performance audit to ensure that funds have been
expended only on the specific projects listed as well as an annual,
independent financial audit of the proceeds from the sale of the
bonds until all of the proceeds have been expended for facilities
projects.

The audit firm Nigro and Nigro has completed the 2018/2019 audit.
Copies of the audit have been forwarded to the appropriate County
and State agencies and our Board of Education for review.
Status District staff and representatives from the firm Nigro and Nigro will
present the audit to our Board of Education for discussion and formal
acceptance. Staff is pleased to report there were no findings.
Fiscal Impact There is no additional cost to the District associated with this agenda
item.
Superintendent's Recommendation: Our Superintendent recommends formal acceptance of the
2018/2019 Annual Measure J Bond Audit.
Approvals:
Recommended By:
Signed By:
Susan Kinder - Assistant Superintendent
Signed By:
Kelly Bowers, Ed.D. - Superintendent
Vote Results:

Original Motion
Member Chuck Rogge Moved, Member Emily Prusso seconded to approve the Original motion 'Our Superintendent recommends formal acceptance of the
2018/2019 Annual Measure J Bond Audit.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0.
The motion Carried 5 - 0
   
Craig Bueno     Yes
Chuck Rogge     Yes
Chris Wenzel     Yes
Anne White     Yes
Emily Prusso     Yes