On November 2, 2010, voters in Santa Barbara County supported the Santa Barbara Secondary School District and Santa Barbara Elementary School District by passing Measures Q and R, authorizing the issuance and sale of general obligation bonds in the amounts of $75,000,000 and $35,000,000, respectively, for the sole purpose of modernizing, renovating, installing, updating, replacing, and repairing facilities, infrastructures and grounds at the school sites.
Article 13A of the California Constitution requires both the completion of an annual, independent performance audit to ensure that funds have been expended only on the specific projects listed and the completion of an annual, independent financial audit of the proceeds from the sale of the bonds.
Vavrinek, Trine, Day & Co., LLP was contracted to perform the annual financial and performance audits for the period ended June 30, 2012. The audits have been completed and Royce Townsend from VTD will be in attendance to present highlights of the report.