San Jose Evergreen Community College District
Citizens' Bond Oversight Committee
2016-2017 Annual Report
Measure X Bond Overview
As of June 30, 2017
REVIEW OF EXPENDITURES
California Proposition 39, California Education Code Section 15278, and the Section 1(b)(3) of Article XIII A of the California Constitution requires annual performance and financial audits on use of general obligation bond proceeds. The performance and financial audits for the fiscal year ending June 30, 2017 were performed by an independent certified public accounting firm in accordance with generally accepted auditing standards and governmental auditing standards issued by the Comptroller General of the United States. The audits indicate that, in all significant respects, the District expended the general obligation bond proceeds for the year ended June 30, 2017 in accordance with the requirements of Proposition 39. View the complete independent accountants' Audit Reports
California Proposition 39, California Education Code Section 15278, and the Section 1(b)(3) of Article XIII A of the California Constitution requires annual performance and financial audits on use of general obligation bond proceeds. The performance and financial audits for the fiscal year ending June 30, 2017 were performed by an independent certified public accounting firm in accordance with generally accepted auditing standards and governmental auditing standards issued by the Comptroller General of the United States. The audits indicate that, in all significant respects, the District expended the general obligation bond proceeds for the year ended June 30, 2017 in accordance with the requirements of Proposition 39. View the complete independent accountants' Audit Reports
| Total Bond Authorization | $748,000,000 |
| Interest Earned | $0 |
| Unallocated Interest Earned | $0 |
| Total Bond Funds | $748,000,000 |
| Total Bond Expenditures* | $626,341 |
| Bond Funds Remaining | $747,373,659 |
| Note: Rounding factors may apply. | |
*Expense activity in the 2016/17 Fiscal Year are election costs for the Measure X Bond | |