District Gets Thumbs Up On Handling Of Measure V Money
New audit turns up no misuse.
An audit of the 2006 through 2007 Measure V construction bond funds is complete and it is reporting that the William SHart School District has spent all Measure V funds appropriately.
All Hart District expenditures paid for with Measure V funds are subject to a yearly audit to ensure that they are in line with Proposition 39.
The finding is a positive note for the District, who came under fire after a complicated prognosis came form last year’s audit, by a different firm Moss Adams. That report contained certain ambiguities that made it difficult to decipher if the District had or had not spend all of its money within their required guidelines. The Board granted permission for the new firm to conduct a separate audit on last year’s culprit interfund transfer to try and gain a clearer picture of the situation.
The District says that it is already implementing the audit firm’s two suggestions for maintaining the Measure V Oversight Committee website and setting aside funds in case taxes are due on interest earned by unused bond funds. The audit firm also looked at recommendations from previous audits and found that the district has already completed two of the five recommendations and is making progress on the other three.
To read our previous stories about the Measure V confusion, click below.