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College Bond Audits Meet Criteria

Oversight committees hard at work to maintain compliance.

College of the Canyons is in full compliance with legal
requirements that mandate public oversight of the disbursement of bond revenues
for both Measure C and Measure M, the oversight committees for the respective bond
measures have determined.

The two citizens' oversight committees made their unanimous determinations
after reviewing the results of independent audits covering the fiscal year
ending June 30, 2008. All
of the findings from those audits were favorable to the college and its
handling of bond measure funds.

It was the seventh year in a row that the Measure C performance audit produced
no audit findings or exceptions, meaning that all accounting procedures were in
conformity with generally accepted accounting principles and the expenditure of
bond funds was done in accordance with applicable laws, regulations and
approved board policies. Likewise, it was the second year in a row that the
Measure M audit also produced no findings or exceptions.

Both the Measure C Citizens Oversight Committee and the Measure M Citizens
Oversight Committee approved formal resolutions affirming the college's
compliance on Dec. 11, 2008.

The Measure C oversight committee was formed following voter approval of that
$82.1 million bond measure in 2001. Measure C has provided much-needed
construction of new facilities, renovation of the existing campus and creation
of a second campus in Canyon Country.

The Measure M Citizens Oversight Committee was formed following the passage of
the $160 million Measure M in 2006.

California law requires that
citizens’ oversight committees are appointed to oversee the disbursement of
bond funds, as well as ensure that they are not used for faculty or
administrative salaries or operating expenses of the district.

The public is always welcome to attend meetings of either of the citizens'
oversight committees. Meeting dates, agendas, approved minutes and additional
information are posted on the committees' respective websites:

Measure C:

Measure M:

College Bond Audits Meet Criteria

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