Each month at its regular meeting, the Board of Trustees is presented a financial report of bond funds that includes project budgets and itemized expenses. Annually, the Board of Trustees accepts the performance and financial audits required by Proposition 39 which governs general obligation bonds in the State of California. Links to these documents are provided below.
The annual audits required by Proposition 39 have differing objectives. The Performance Audit verifies that bond funds have been expended on only the specific projects as listed in the ballot text presented to the District's voters. The Financial Audit ensures that all financial transactions related to bond funds are recorded and reported using generally accepted accounting principles.