NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE CBOC Presentation 2013-2014 Annual Report
NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE Why is the Annual Report Late? The report was delayed due to the inaccurate and delayed financial information from the district office and errors contained within the Crowe Horwath 2013-2014 Bond Performance Audit.
Measure G Bond Sale NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE Series A $15,000,000 Series B $30,000,000 - Premium $370,000 Series A Remaining Interest up to 2014 $64,238 $15,000,000 $18,000,000 Remaining $18,000,000 Total $63,434,238 Interest up to 2014 $64,238 Premium $370,000 Series B $30,000,000
Expenditures by NEWARK UNIFIED SCHOOL DISTRICT Financial Year CITIZENS’ BOND OVERSIGHT COMMITTEE 2013 $1,753,677 2013 2014 $6,267,288 $1,753,677 2014 2015 $12,654,896 $6,267,288 Remaining $42,758,273 Total $63,434,134 2015 $12,654,896 Remaining $42,758,273
Expenditures 2014 NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE Categories School Buildings and Interior $3,497,534 School Grounds $247,280 Other Expenditures $1,504,557 Technology $1,017,917 Other Expenditures $1,504,557 Total $6,267,288 Technology $1,017,917 School Buildings and Interior $3,497,534 School Grounds $247,280
Breakdown NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE School Buildings and Interior Roof $2,020,252 Gym Portable Demolition HVAC Systems $1,371,606 Restrooms Exterior Lighting Bleachers $22,220 Lockers $21,059 $29,881 $27,796 Exterior Lighting $29,881 $4,720 Gym Bleachers $27,796 Portable Demolition $22,220 Restrooms $21,059 Lockers $4,720 HVAC Systems Total $3,497,534 $1,371,606 Roof $2,020,252
Breakdown NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE School Grounds Fencing Playground $200,421 $13,540 Concrete Walkways $33,319 Fencing $13,540 Concrete Walkways $33,319 Total $247,280 Playground $200,421
Breakdown NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE Technology Upgrades VoIP $7,570 $2,169 LAN Switches $442,388 Video Surveillance $305,175 Wireless $260,615 Wireless $260,615 Upgrades $7,570 LAN Switches $442,388 VoIP $2,169 Total $1,017,917 Video Surveillance $305,175
Breakdown NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE Other Expenditures Construction Management $972,717 Audit Expenses Consultants Legal $4,000 $13,500 $34,877 Compensation Debt Issuance $355,288 $43,841 Construction Support $80,335 Construction Support $80,335 Compensation (Note 1) $43,841 Legal $34,877 Consultants $13,500 Audit Expenses $4,000 Debt Issuance $355,288 Total $1,504,557 Note 1: Compensation $57,458 on Audited Financial Statement in Building Fund. Difference categorized as Technology (overtime compensation). Construction Management $972,717
Compliance Statement NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE “Based on the review and observations of the Citizens’ Bond Oversight Committee, we find that the Newark Unified School District is in compliance with the requirements of Article XIII A, Section 1(b)(3) of the California Constitution and that funds are being used for the purposes specified in the ballot language. ”
Findings and Concerns NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE The CBOC • Received Inaccurate and Delayed Information • Did Not Inspect the Facilities and Grounds Since October 2012 • Is Lacking the Mandated Minimum Number of Members
Recommendations NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE The CBOC Recommends the Governing Board • Evaluate how to better provide information to the CBOC • Sanction an annual tour to visit the school facilities and grounds • Evaluate its efforts in advertising the vacant CBOC positions
NEWARK UNIFIED SCHOOL DISTRICT CITIZENS’ BOND OVERSIGHT COMMITTEE Questions
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