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School Board Hears Audit Results: 2015 Measure T and 2022 Measure S Bond Funds

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School Board Hears Audit Results: 2015 Measure T and 2022 Measure S Bond Funds

Redwood City School District (RCSD) recently concluded a thorough audit of its 2015 Measure T and 2022 Measure S Bond Funds, covering the fiscal year ending June 30, 2023.

The results were presented to the Board of Trustees during its public meeting on May 8, 2024.

Independent auditors conducted the financial statement and performance audits according to Generally Accepted Auditing Standards and Government Auditing Standards. Their primary aim was to ensure the financial statements were accurate and that internal controls and compliance regarding the bond funds were effective.

Performance Audit Key Findings:

  • No significant problems or disagreements with the district’s management were found.

  • Spending aligns with what voters approved for the bond projects.

  • Payroll and procurement procedures comply with legal requirements.

  • No significant accounting issues or unreported financial problems were discovered.

  • The audit confirmed that the bond funds are well-managed and used appropriately.

School Board Vice President Mike Wells emphasized the importance of these audits:

“We are entrusted with our community’s money to be able to spend on facility projects. The audit and the oversight committee are two of the mechanisms we have in place to ensure that everything is going on right … thank you for the audit, helping to make sure that we are true to our word and giving us these artifacts to make sure money is in good hands and well spent.”

Measure T and Measure S are funding sources for RCSD students, aimed at improving their school facilities and infrastructure. Measure T, passed in 2015, focused on improving facility safety and repairing and upgrading aging schools. Measure S, approved in 2022, is supporting modernizing classrooms and enhancing technology. Audits of these measures are performed to ensure transparency, accountability, and proper use of public funds, instilling in the community that their investments are being managed responsibly.