The Beverly Hills Unified School District’s Board of Education unanimously approved an audit that “fairly” presents the financial position of its Measure E fund for school construction projects during its May 21 meeting.
Areas for improvement that it noted include making sure invoices are paid on time, improving planning to avoid making regular changes to the scopes of projects and to improve documentation of its bidding processes.
Measure E was approved by Beverly Hills voters in 2008 to authorize $334 million in general obligation bonds for the school district.
The audit, which evaluated the fiscal year that ended on June 30, 2017, was conducted by accounting firm Moss Levy.
On June 5, Beverly Hills voters will decide whether to allow the district an additional $385 million in general obligation bonds for continued construction through Measure BH. Board members unanimously voted to put the bond on the ballot, meaning 55 percent of voters need to vote yes for it to pass.
The new construction would include bolstering earthquake and fire safety, and repairing or replacing roofs and electrical systems. Expenditures would also be evaluated by an independent audit. It would levy 4.4 cents per $100 of assessed value, $23.7 million annually, according to the bond language.
This site uses Akismet to reduce spam. Learn how your comment data is processed.