BOND OVERSIGHT COMMITTEE

 

Unapproved Minutes of the September 22, 2008 meeting

 

 

Call to order at 7:07pm.

 

Present:

Committee Members:  Marvin Morganti, Diane Go, Bob McLennan, Rolito Recio

Staff:  Steven Fuentes, Associate Superintendent – Business Services, Robert Devine, Project Manager, John Schultz, Director of Maintenance/Operations

 

Minutes of the May 5, 2008 meeting were approved as submitted.

 

Steven Fuentes showed the committee the district’s web site which includes a link to information about the Bond Oversight Committee.

 

Robert Devine presented to the committee an overview of the projects completed over the Summer of 2008 and upcoming projects.  Discussion ensued about actual costs versus facility master plan costs and the effects on the total construction plan.  Mr. Fuentes reported at this point the Governing Board has not had to make any decisions about delaying any projects included in the facility master plan.

 

Mr. Fuentes reviewed a bond expenditure report containing information through 06/30/2008.    Mr. Recio asked about the effects of the current economic financial crisis on the district’s ability to issue more bonds.  Mr. Fuentes explained that the district will not be considering issuing more bonds until the Spring of 2009 after the next cycle of projects go to bid and it is better known what amount the district needs to continue construction. 

 

Mr. Fuentes informed the committee that the annual performance audit is now underway.  He asked that the committee meet again on Monday November 17th to review the audit.  It is intended that the audit be presented to the board at the December 2nd meeting.  The committee discussed possible ways of informing the community of the results of the audit.  It was agreed that the audit be posted to the district’s website.  Public notices would be taken in some of the local papers as well as possible notice put on local community cable access channels.

 

The meeting was adjourned at 8:50pm.

 

Respectfully submitted,

 

Steven R. Fuentes

Associate Superintendent

Business Services