Welcome to the California League of Bond Oversight Committees (CaLBOC). CaLBOC is an all volunteer, non-partisan association of Citizen Bond Oversight Committee (CBOC) members, current and past, who are interested in helping other CBOC members. CaLBOC was formed in 2006 by CBOC members trying to find better training to help perform their duties. CaLBOC is a 501(c)3 charitable organization.
West Contra Costa School Board Accepts Forensic
Audit Report of $1.6 Billion Bond Program
September 22, 2016 | By Rick Radin | www.eastbaytimes.com
EXCERPT: RICHMOND –- West Contra Costa schools trustees formally accepted the results of a forensic audit of the district’s $1.6 billion bond program Wednesday evening and agreed to form a task force charged with carrying out its recommendations for reform. The school board also agreed in closed session to turn over the results of the audit to “law enforcement,” without specifying what agencies it was referring to. Ernie Cooper of the auditing firm Vicenti Lloyd & Stutzman LLP said an investigation by law enforcement agencies will be required if the district wants to uncover any mismanagement or wrongdoing by district officials and school construction contractors because law enforcement is “not within the scope of our work.” “It was not our charge to uncover fraud and conspiracy or go out and find if there was a kickback,” he said. “Why don’t you ask the responsible agencies to take a look at this report?” Bond program critics Ben Steinberg and Ivette Ricco, a member of the subcommittee that chose VLS and oversaw the audit, encouraged trustees to pursue an investigation of possible kickbacks and overcharges for services, especially from SGI, the construction management firm that managed many of the district’s construction projects.
According to the audit report, SGI declined to cooperate with a number of requests for information and thus limited the audit’s scope. ...
To read the complete News Release please visit: eastbaytimes.com/2016/09/22/west-contra-costa-school-board-accepts-audit-report/
Link to WCCUSD Forensic Audit, it is broken up in downloadable sections:
TC = Test Controls, FI = Forensic Investigation
Capitol Alert: Statewide School Bond Stymied in Legislature, Backers Go Their Own Way
September 6, 2016 | By Jim Miller| www.sacbee.com
EXCERPT: ... Home builders, school construction companies and others, bypassing the Capitol, spent millions to gather signatures to qualify a $9 billion school bond for the ballot. Eleventh-hour Capitol negotiations to craft a smaller substitute bond in June went nowhere, securing Proposition 51’s fall placement. ...
The billions secured by Proposition 51 would be allocated under a framework nearly 20 years old, when California school enrollment was increasing and local school bonds needed to pass by a two-thirds vote, instead of the current 55 percent.
The Brown administration has been among the biggest skeptics of more school borrowing, slamming the current program as expensive, inefficient and one that should be retooled to help only the neediest districts.
H.D. Palmer, a spokesman for Brown’s Department of Finance, said Proposition 51 “perpetuates the status quo” while saddling the state with an additional $500 million a year in general fund debt service, on top of more than $2 billion in debt service from earlier school borrowing. ...
To read the complete News Release please visit: www.sacbee.com/news/politics-government/capitol-alert/article99804172.html
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Los Angeles Civil Grand Jury Report:
"Capital Appreciation School Bond Debt: Consequences of Poor Financial Practices" Final Report 2015-2016
5th CaLBOC Annual
CaLBOC Annual Conference
Tuesday, May 31, 2016
Presentation Documents TO COME
"How Citizens Can Prevent Fraud"
Pesentation by Governmental Financial Strategies:
May 19, 2015 Conference
Don Mullinax Presentation:
May 9, 2014 Conference
Lori Raineri of Governmental Financial Strategies Presentation:
Pay to Play in School Bond Measures What it is and Why it is Wrong