Auditor's report: Bond spent well
Audit good news for Simi district
By Angie Valencia-Martinez, Staff Writer
LA Daily News

SIMI VALLEY - Simi Valley Unified appropriately spent the first $11 million of the $145 million construction bond approved by voters two years ago, an auditor's report shows.
The independent audit is good news for the 29-school district, which came under fire last year by a citizens' bond oversight committee for transferring $1.5 million in bond money to the general fund. District officials blamed the mistake on an accounting error.

"Everything is OK," school board member Greg Stratton said. "The money is being spent correctly. Now let's make sure it's being spent wisely."

The report - conducted by Vicenti, Lloyd, Stutzman LLP - audited the money generated by the Measure C4 bond that was approved by voters in 2004.

Lowell Schultze, associate superintendent of business and facilities, said the auditors reviewed 97 invoices, totaling $9 million. They reported only two minor problems: a $35,000 invoice paid without prior approval and a $17,000 invoice that lacked sufficient documentation.

Overall, the report shows the district is in compliance and the funds had been properly spent and on voter-approved projects, not for salaries of school administrators or other operating expenses, officials said.

"We're very happy with the report," he said. "It shows we're managing the money and spending on what it's supposed to be spent on."

The watchdog group, a requirement under state law, chided the school district for not releasing the report sooner.

"That audit should have happened last year," said Mike McCaffrey, chairman of the nine-member oversight committee. "We were very pleased to read the results of the audit and happy everything checked out the way we hoped."

Bond-related construction is expected to continue for the next four years.

---end---

What are your thoughts on the Auditor's report? To review or read it, I am sure it's posted on the district web site, or the C4 Bond ICOC web site. I'm confident you'll be able to find the auditors' report in one of these two places, otherwise you may want to make a public records request of the district...

Oh...nevermind.