The Santa Clarita Community College District’s Measure M community oversight committee voted to accept the results of an independent audit of the college’s Measure M general obligation bond funds.

The audit confirmed the college spent funds as authorized in the bond approved voters, and did so in compliance with all laws and accountability measures set forth in Proposition 39, the California Constitution, and mandated by California education code.

As well, the audit verified that bond funds were not spent on general administration or operational costs.

“This was a very impressive audit,” said Nick Lentini, chair of the district’s Measure M oversight committee. “It did not contain any findings, which is a testament to the college’s strict fiscal controls and extensive staff efforts.”

Vavrinek, Trine, Day & Co. LLP, conducted both financial and performance audits, covering the fiscal year ended on June 30, 2014.

In its report the firm noted no adjustments, audit findings, questioned costs, or instances of noncompliance associated with the bond — further confirming that all funds have been spent appropriately.

The firm issued an unmodified opinion, the best rating possible.

The audits were presented to the district’s Measure M Citizens Oversight Committee at its January 15 meeting.

“For eight years running College of the Canyons has earned a clean Measure M audit, reinforcing its reputation for appropriately managing its bond funds,” said Sharlene Coleal, assistant superintendent/vice president of business services at the college.

Local voters approved the $160 million general obligation bond Measure M, in November 2006. The District has $20 million in bonds to be issued at a future date, after issuing $80 million in bonds in May 2007, $35 million in bonds in May 2012, and $25 million in bonds in September 2014 (after the audit was performed).

By supplementing the bond funds with earned interest and roughly $132.6 million in state match and other sources of construction funding, an estimated $303.3 million in projects are planned.

The 2013-14 audit confirms approximately $125.7 million in resources from the first two bond issuances, which also includes earned interest and net premiums on the bonds.

Of that amount, more than $112.5 million has been expended on authorized bond projects, leaving the district with a Measure M bond project fund balance in the neighborhood of $13.2 million as of June 30, 2014.

“We are proud of our record of clean audits, which confirm that we continue to deliver on the promises made to voters when they approved the bond,” Chancellor Dr. Dianne G. Van Hook said. “Santa Clarita expects us to create a college that is capable of delivering cutting-edge education and training that allows students to achieve their goals. We’re exceeding their expectations through the resources they entrusted to us through Measure M.”

Since its passage, Measure M bond funds have been used on a wide variety of major facilities projects and campus expansions at the college including the construction of the Canyon Country campus and the creation of the Dr. Dianne G. Van Hook University Center.

Other projects include the construction of the Applied Technology Education Center (ATEC) at the Canyon Country campus, the dramatic expansions of Mentry Hall and the Library/TLC (The Learning Center) at the Valencia campus, and the recently completed Canyons Hall student services/administration building and College of the Canyons Institute for Culinary Education.

The college’s next phase of bond-funded construction is scheduled to take place in Canyon Country and includes plans for the campus’ next three permanent buildings.

With resources available from Measure M, the college has already secured the money needed to qualify for state-matched funding that will jumpstart construction in Canyon Country.

However, future construction plans are contingent on the state placing a statewide facilities construction bond on a future ballot. Efforts are under way in the Legislature to do so in November 2016.