California League of Bond Oversight Committees

 

IN THE NEWS:  Little Hoover Commission Report

Watchdogs Don't Have Much Bite, Says New Report

Feb. 15, 2017 |By Ashly McGlone | www.voiceofsandiego.org   

EXCERPT:   ... The oversight groups, "By and large ... have proven ineffective and some committee members have told the Commission that is at least in part, by design," wrote the Little Hoover Commission. "Most of the concerns revolved around bond oversight committee members who lack training, have conflicts of interest, either real or perceived, and the difficulty committee members have receiving required documents from the districts."   Those same issues have surfaced in San Diego County, where some appointees represent workers building bond projects and others get paid to lobby the very government officials they oversee.
     Among other things, the Little Hoover panel proposed county treasurers review and comment on bond sales before they occur to help prevent poor debt financing decisions by local government agencies.   The commission also recommended changing the oversight committee appointment process, currently handled by district officials the group oversees. The report also recommends committee members play a larger role in selecting bond auditors, and that audits measure effectiveness and results, as well as compliance.
     The commission also believes oversight groups should receive a minimal budget to hire independent counsel when needed. Such requests by the oversight committee watching San Diego Unified's $4.9 billion bond program have been denied.
     In addition, the commission called on the state Treasurer's office to provide online trainings about bond sales to elected officials, and suggested state leaders allocate one-time funding for the state's school business advisory group, known as the Fiscal Crisis & Management Assistance Team, to put together online training for bond oversight committee members. ...
To read the complete article visit:
www.voiceofsandiego.org/topics/government/bond-watchdogs-dont-much-bite-says-new-report/
    
Little Hoover Commission Report:"Borrowed Money: Opportunities for Stronger Bond Oversight"   Feb. 2017: www.lhc.ca.gov/studies/236/report236.html 

Quick Links

Helping School Bond Oversight Committees Serve Their Communities.

IN THE NEWS

Sweetwater UHSD Awarded
$8.2 Million in Settlement

Feb. 17, 2017 | By Jessica Caimi | www.norcalrecord.com 

EXCERPT:   The Sweetwater Union High School District in Chula Vista, California, is putting the past behind it after receiving $8.2 million as part of a pay-to-play legal settlement involving two construction companies. Gilbane Building Company and SGI Construction Management, two Northern California-based construction companies, will pay Sweetwater for their alleged involvement in the scandal. In exchange, the school district will drop its pending lawsuits against them. ...
To read the complete article visit:

norcalrecord.com/stories/511083211-sweetwater-union-high-school-district-awarded-8-2m-in-settlement

SAVE THE DATE

6th Annual
CaLBOC Statewide Conference
"Bond Oversight Basics"

April 25, 2017
• Tues. • 9:30am-3:00pm
California Chamber of Commerce
1215 K Street Sacramento, CA 95814
$50 per person includes lunch

REGISTER:
www.calboctraining.eventbrite.com



Subscribe to our Free Newsletter





Little Hoover Commission Report
"Borrowed Money: Opportunities for Stronger Bond Oversight"  February 2017

www.lhc.ca.gov/studies/236/report236.html 


Los Angeles Civil Grand Jury Report:
"Capital Appreciation School Bond Debt: Consequences of Poor Financial Practices"
Final Report 2015-2016
LACGJ_CAB_Final2015-2016.pdf

May 19, 2015 Conference
Don Mullinax Presentation:
Fraud Awareness: School Construction

2015CalBOC_Mullinax.pdf


Welcome

The California League of Bond Oversight Committees (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.

Calboc.blog

Search on CaLBOC