Ashby, Stephen: Screen.
Ashby, Stephen: They were now…
RCCD CAADO 309: Hi, Steven!
Ashby, Stephen: Hey, how are you?
RCCD CAADO 309: Good. Is there any way you can, pause the meeting recording?
Ashby, Stephen: No, we need to get all of our.
RCCD CAADO 309: And then you're on the… Oh, okay.
RCCD CAADO 309: I broke your ring down, I'll tell you that.
RCCD CAADO 309: And do the audit at first.
RCCD CAADO 309: Because it's information on the term for audit. So, looking for, okay.
RCCD CAADO 309: Okay. So, hi, Vice Chair.
RCCD CAADO 309: Yes! Yeah. Mike is not able to be here.
RCCD CAADO 309: Don is something, and not here, medical procedure, and Mike is out.
RCCD CAADO 309: Jordan is running late, Jordan will make quorum when he arrives, so if we want to start with the agenda, which Renee has conveniently located up here,
RCCD CAADO 309: After you kick it off, we would want to make a switch so that any of the approval items, which is really just the minutes, go to the end, so that that's when Jordan is here. All the rest of the stuff, we can go in order and start with, the audit from an informational perspective, and they can share. Yeah.
RCCD CAADO 309: Can you go through everything else except for the audit?
RCCD CAADO 309: Because… Oh, sure. You know, we're gonna get another member by potentially 3.30. Sure, we can flip it and do the audit right before the minutes. Perfect. Is that okay?
RCCD CAADO 309: You just tell me what we're doing. All that's calling me to order at 3.02. We'll do the push. Good afternoon, everybody.
RCCD CAADO 309: Okay. We can do the pledge, and then… Oh, pledge will be good. …and then, public comment.
RCCD CAADO 309: Ready? I pledge allegiance to the flag of the United States of America, and to the Republic for which it stands, one nation, under God, indivisible, with liberty and justice for all.
RCCD CAADO 309: Okay, we are called to order. Is there anybody from the public looking to make comments today?
RCCD CAADO 309: Nice.
RCCD CAADO 309: I don't think we have any public comments at this point. Awesome. Okay, we're going to…
RCCD CAADO 309: Postpone item 3A.
RCCD CAADO 309: Are we gonna do 4A right now? You're gonna skip 4 and 5. You're gonna go to 6. Okay, so we're gonna go to item number 6, Measure C and CC Financial Update.
RCCD CAADO 309: We didn't know you were up there. No, I can't see the screen anymore.
RCCD CAADO 309: Beautiful.
RCCD CAADO 309: We've already been through this a million times, so everybody knows you.
RCCD CAADO 309: Yeah. You might have to introduce yourself to Cheryl, but… All right. All right. So…
RCCD CAADO 309: What we have before us is the Project Commitment Summary Report for Measure C, and this is a summary of activities through June 30, 25, year in closing.
RCCD CAADO 309: The highlighted sections throughout this document, identifies any kind of transactions that have changed or happened since the last time we met.
RCCD CAADO 309: So, the first thing we see is we see a change on our cash on hand, and this has changed by about $1.8 million, and this is mainly due to the expenditures related to organic chemistry lab at Marina Valley Student Services Welcome Center at Marina Valley, and the TTS renovation project at RCC.
RCCD CAADO 309: Now, we do have a little bit of cash left on hand, and this is due to any kind of a proposal during closing that hasn't yet paid.
RCCD CAADO 309: The next section, we see a little bit of, yellow here, which we get to the next report, it's a lot of fun. What we have here, though, is that we see that there is a change in issuance premiums.
RCCD CAADO 309: And this is due to the reconciliation process, excuse me, that occurs during the fund closing process.
RCCD CAADO 309: The interest income, as you remember, at year-end closing, we reconcile what was budgeted to the actual expenditure, so that's why you see a change on this one. And then the fair market value, same thing. We end up at year-end closing, reversing what happened in the previous fiscal year and posted in the current year, but since this fund is pending, there's no posted for the current year.
RCCD CAADO 309: And then the last section here.
RCCD CAADO 309: We have a change… I have an increase of about $1, $1.1 million, and this is due to, one, the completed projects reducing by about $11,000, and this is to the logic domain project being, finalized in this… in this particular funding, and going on to the new funding.
RCCD CAADO 309: And then we see, an increase in the in-progress projects, and this is… excuse me, where am I? Okay, and this is due to two things, actually. This is due to a reduction in commitment to two projects that have been finalized, which is life science, physical science, and the staffing course.
RCCD CAADO 309: Since it's through June 30. And then we also see an increase in commitments in the amount of about 1.6, and this is due to the CAC move to the STEM 100 renovation, project at Norco.
RCCD CAADO 309: The TSS renovation project at RCC, and the organic chemistry lab project at Reno Valley College.
RCCD CAADO 309: Now, remember also, for some of you that, were here for last year in closing, any kind of closed-out projects end up going to board later in the fiscal year, and once they are closed out officially and approved by the board, they get moved up from the in-premise to the, completed. So you'll see that later.
RCCD CAADO 309: There was also a change in the program reserve, or the contingency, and that was about $188,000.
RCCD CAADO 309: And that was due to these funds being allocated to, some of these projects, specifically the Organic Chemistry Lab at Lunar Valley College.
RCCD CAADO 309: Now, if you just scroll down a little bit, Renee.
RCCD CAADO 309: What you'll see in the,
RCCD CAADO 309: Actually, okay, in this call, I'm very careful.
RCCD CAADO 309: Bye.
RCCD CAADO 309: Change that to, like, 110 and 120. Or 150.
RCCD CAADO 309: Anyways, there's some highlighted sections in this column. This is the other funding, so you'll see other changes that have happened in the other funding column.
RCCD CAADO 309: And this is… this accounts for about $1.8 million, and again, this is due to the tax in 100 renovations project at Norco, as well as the TSS renovation project at RCC. And these are other funding sources that have changed since our last meeting.
RCCD CAADO 309: And that concludes this report. Are there any questions?
RCCD CAADO 309: So, I just want to say that,
RCCD CAADO 309: You know, through our year-end closing process, we're able to…
RCCD CAADO 309: move some expenditures, because some of these projects have various sources of funding besides MetroC. We were able to move some of the expenditures, allowable expenditures, under Medicare C program, so we were able to close out as of June 30, 2025.
RCCD CAADO 309: So… Essentially, the work and the expenditures, the work of the board now of the committee associated with,
RCCD CAADO 309: Measure C, essentially…
RCCD CAADO 309: So you won't be seeing additional reports coming through from under C. You'll see the final audit report coming through from your C.
RCCD CAADO 309: And this… Body language.
RCCD CAADO 309: She's super respectful.
RCCD CAADO 309: So, just… we weren't sure if we were going to be able to align things appropriately. We thought we might have to carry over for one additional year, but because of the work that Misty and her team did, along with Usain and his team, they were able to identify the expenditures to put over into…
RCCD CAADO 309: from other sources. Okay.
RCCD CAADO 309: Great.
RCCD CAADO 309: Let's a few seconds.
RCCD CAADO 309: Thank you, thank you.
RCCD CAADO 309: Okay, this is the same exact report, but it's for the new Measure CC money, and this is for any kind of activities that occurred as, through September 30th that have, occurred since our last meeting date, so keep that in mind.
RCCD CAADO 309: So the first thing we see, and this is going to be kind of funny when we go over the next few pages, but I'll see you laugh, because I know. So the reduction, we have a reduction of cash on hand, and that's about $366,000, and that's due to the Corona Education Center expenditures.
RCCD CAADO 309: As we see down here in the proceeds and the income section, these were blank last time. So, we've got some changes going on here, and again, going back to the interest, remember, we reconciled the previous year, and we also post the budget for the current year, what we expect in interest. That's what you're seeing right there.
RCCD CAADO 309: Also, with the fair market value, which we just discussed, there was nothing last year, but we do have the posted for the current year.
RCCD CAADO 309: Nope, nope.
RCCD CAADO 309: Oh, there you go.
RCCD CAADO 309: Yep, nope, yep, that one, yeah.
RCCD CAADO 309: So, here in the, project commitment, in the post-project section.
RCCD CAADO 309: This whole area increased by $954 million, which is indeed our, our,
RCCD CAADO 309: our bond, right? So, what we've done here is that we have, committed the budget to the projects that have been approved in the in-progress, and in the program contingency for the future, and also the 5-year capital. So, just like we promised last year, you saw absolutely nothing in this section.
RCCD CAADO 309: Now you're seeing everything populate, because we were able to build everything in the final budget, and that's what you're seeing here, and that's why the same balances. Now, what might be standing out to you is it's negative right here.
RCCD CAADO 309: We have committed all the bond money to projects, and that's why you see the 954, but we've only been, allocated or…
RCCD CAADO 309: what's a good word? Issued the 205 or first issuance, so that's what you're going to see as a difference there, but we have committed the entire bond.
RCCD CAADO 309: Let's see here. Now, let's… if we could go down a snitch and look at this column right here, the actual projected…
RCCD CAADO 309: That way. So, okay, I know it looks very yellow, and the reason being is because last time you saw absolutely nothing on these pages, so everything has changed. What you're seeing on this particular column, which is right here.
RCCD CAADO 309: Are all the other non-measure CC funding that's going to attribute to these projects that we have here.
RCCD CAADO 309: And most of this is the state funding that we've been allocated for the, projects, plus other funding sources, such as general fund or our redevelopment funding for the projects we have in hand. And that's why you see about $253 million here. Scroll to the very bottom.
RCCD CAADO 309: That pretty much concludes this report. Are there any questions? I have a question. Going back to the, go up, back to where we were, where you had the negative $754,000. Is that the way they usually, show and budget these types of projects?
RCCD CAADO 309: So that it's committed, but it's not showing as…
RCCD CAADO 309: part of the budget? Yes, and the reason why is because we're… we want to show what the commitments are, this title of this project commitment summary report, because we want…
RCCD CAADO 309: the, Oversight Committee to know
RCCD CAADO 309: Not only what the authorization is, and what has been issued today, but to see the full complement of what is
RCCD CAADO 309: Gonna be obligated under the bond tool.
RCCD CAADO 309: So…
RCCD CAADO 309: The way we handled Measure C was quite a bit different. We didn't have projects assigned or committed until much later and throughout the entire 20 years that we had Measure C in place. This is different because right out of the gate, we had 4 projects, well, actually 5 projects approved by the state.
RCCD CAADO 309: We have two new centers that we're putting in place that we're doing all on our own dime, with no state commitment.
RCCD CAADO 309: Plus another project at Rico Valley that we'll likely do on our own dime as well. And then we also have the flight tech.
RCCD CAADO 309: project at RCC, which is probably going to be funded through the state. So, with all of those in play,
RCCD CAADO 309: with, also, you know, the management of the bond itself, and a small contingency that all of Measure CEC is fully committed.
RCCD CAADO 309: And so, you'll see that balance decline… That's what I was gonna ask about probably the next 6 or 7 years as we do additional issuances, and as we…
RCCD CAADO 309: Yeah, primarily that. As we do additional issuances, I'll sweep that.
RCCD CAADO 309: Negative down to zero.
RCCD CAADO 309: Thank you.
RCCD CAADO 309: Any more questions? Okay, so we'll go to number 7 now.
RCCD CAADO 309: No.
RCCD CAADO 309: Yeah, projects separate.
RCCD CAADO 309: All right,
RCCD CAADO 309: Good morning, everyone. For this update, we have…
RCCD CAADO 309: 64 report. I will start off with the first one.
RCCD CAADO 309: On August 19, the board approved the total project budget,
RCCD CAADO 309: move, a total project budget of $36 million for Penny Clark Training Center, Education Building, Phase 2A.
RCCD CAADO 309: This will be at the Vancouver Learning Center. This project is partially funded by Mr. CC.
RCCD CAADO 309: This, board approved, the…
RCCD CAADO 309: Allocation for Marina Valley College Library and Learning Resource Center.
RCCD CAADO 309: project, is partially funded by the state, and also funded by the CCC.
RCCD CAADO 309: No.
RCCD CAADO 309: 118, of which… 43 from state allocation, 74.5 from…
RCCD CAADO 309: The third project is the, Norco College Library Learning Resource Center.
RCCD CAADO 309: The total amount of… 6.5, of which 32.8 from the state, and 72.7 from the Justice.
RCCD CAADO 309: As you all know, we reported on the North Coast Center for Human Performance. The design was completed years ago and received permit, but we were on hold waiting for you to see approval, so this board report fully advanced the project from design and permit to construction.
RCCD CAADO 309: So, the board approved the, budget of the, Center for Human Performance and Kinesiology at Monaco.
RCCD CAADO 309: Individual amount of 34, or… 31 from this data, 22.7 from the state.
RCCD CAADO 309: Including also a secondary effect, which is the upper grading to the shoulder, and the total MRNA polyure
RCCD CAADO 309: The last project, which is really the,
RCCD CAADO 309: state-funded project at Riverside City College in Neocosmetology.
RCCD CAADO 309: The project approved the total budget of small companies.
RCCD CAADO 309: $57.2 million, of which $19.8 from the state, and $37.3 from the Nucci's.
RCCD CAADO 309: So, as I mentioned, pretty much all the money being… allocated to
RCCD CAADO 309: The, this is approval of change order number one, for the demo contractors. And my demo appointment for the buildings, and the site of the Corona Education Center.
RCCD CAADO 309: And that's the, approval of 94 million… sorry, 94… 94,000, for the
RCCD CAADO 309: More or less.
RCCD CAADO 309: That covers all the waterfalls
RCCD CAADO 309: Is there still, opposition from the community about the demolition of the cosmetology building, the current cosmetology building?
RCCD CAADO 309: If we were standing outside your house, I would… I would say, from one council member, yes.
RCCD CAADO 309: Okay.
RCCD CAADO 309: I don't know if there's community… Hmm.
RCCD CAADO 309: Have you heard community? Okay, I don't think that there's…
RCCD CAADO 309: Kind of aligned with it. Yeah.
RCCD CAADO 309: It's okay.
RCCD CAADO 309: We've had a, this horrible survey done a little Just receiving results.
RCCD CAADO 309: There are some issues that are probably…
RCCD CAADO 309: Once we have a chance to pull.
RCCD CAADO 309: Another reporter.
RCCD CAADO 309: You need to decide.
RCCD CAADO 309: I haven't kept up on city planning stuff, but it used to be, if you were over 50 years old, the building was historic, so… Say that out loud. 45, sorry. That's the new, that's the new 50? No, it's eligible for historical assessment, doesn't mean the building is historic. Right.
RCCD CAADO 309: That's why a bunch of stuff downtown.
RCCD CAADO 309: So… but it's not even… these delays or discussions aren't going to impact building the new one, because it's not on…
RCCD CAADO 309: So… Yeah, the only… we don't need to have a decision made yet.
RCCD CAADO 309: One of the issues with that building, the demolition was going to occur just to replace them.
RCCD CAADO 309: parking that the new building is going to take up. So, we'll have to have a decision.
RCCD CAADO 309: or replacing the parking.
RCCD CAADO 309: One way or another. Yeah.
RCCD CAADO 309: That was…
RCCD CAADO 309: having been in that building quite a few times with students, it was like, it was time. They really needed a new building.
RCCD CAADO 309: Faculty needed a new building.
RCCD CAADO 309: One of the quandary is gonna be up, it's gonna be saved, but it's gonna take multiple days.
RCCD CAADO 309: of dollars to have this remediation, HVAC improvements, and all kinds of stuff, so…
RCCD CAADO 309: That's why it's gonna be interesting.
RCCD CAADO 309: where it goes on the discussion, so… Wow.
RCCD CAADO 309: I hope he's able to help with other resources.
RCCD CAADO 309: Yeah.
RCCD CAADO 309: All right. Yesterday, actually, we presented the Metro C closeout report. As I stated, we, spent, you know, expanded our money from Metro C. Have you already given me…
RCCD CAADO 309: One slide, please.
RCCD CAADO 309: There's a 50-page report that really provides the full details of every single project being done, and all of the district sites, including Bend Clark, Marina Valley, and Oracle River site.
RCCD CAADO 309: That's fine.
RCCD CAADO 309: Oh, that's fancy.
RCCD CAADO 309: Great, I'm gonna go over this one really quickly, especially the, you know, first few slides. Measure C was 2004.
RCCD CAADO 309: And authorize the district to expand family if you know him.
RCCD CAADO 309: To modernize and construct the new facilities, including all the infrastructure at the rate.
RCCD CAADO 309: Construction started in 2006.
RCCD CAADO 309: And then, actually completed 2012.
RCCD CAADO 309: last project that was funded by the HBC. Next slide.
RCCD CAADO 309: Let's see by the numbers, I'm just gonna highlight a few of them, deliver 15 new academic, students facilities.
RCCD CAADO 309: Renovated, 6 facilities, modernized 11.
RCCD CAADO 309: deliver 7 buildings that receive LEED certification, which is high-efficient.
RCCD CAADO 309: Buildings, leadership leads, that's all leadership and energy and environmental design.
RCCD CAADO 309: Measure C, added about 270,000 assignable square footage in lab, classrooms, office space, and library.
RCCD CAADO 309: Major C, Tony, really, you know, invested in hiring hundreds of local vendors, and, and more compares.
RCCD CAADO 309: How does the growth of the district? I just see added about…
RCCD CAADO 309: Million gross square footage, or 2,270,000 square footage.
RCCD CAADO 309: The efficiency of the, building is 65%.
RCCD CAADO 309: good, good rate of efficiency for, for things at, like institutions, I guess.
RCCD CAADO 309: Here's some details on, you know, on the projects. What you see in the picture here is Manili Watkins Center. That project was opened in 2022.
RCCD CAADO 309: And at the bottom is the Clark, public school, public safety, or credit card training center across all of it.
RCCD CAADO 309: That's it. Yes.
RCCD CAADO 309: Just a quick question. What might the distinction be between modernized and improved and upgraded?
RCCD CAADO 309: One right now is, is, you know, to complete, you know, we got the hope of the holes.
RCCD CAADO 309: the whole structure, we just keep the stud. Okay. And then we modernize the whole system.
RCCD CAADO 309: And upgrade also all the structural components and all the other systems.
RCCD CAADO 309: And we kind of got into a couple, and welcome.
RCCD CAADO 309: Without tearing down walls? Or… without tearing walls. I mean, there are,
RCCD CAADO 309: There are, you know, just partitions that can be…
RCCD CAADO 309: not true that, but, like, the wall-bearing walls, structurally, these are structural walls, they won't be removed, but if they are partitioned, they will be removed. And that's the improved and upgraded versus… These are the modernized. That's the modernized. So then what makes something… I guess I don't understand the difference between the two categories. Is there…
RCCD CAADO 309: something easy to… If we were upgrading the wire in this building because IT needed an infrastructure upgrade, that would be an… that would be an improvement, an improved upgrade, whereas if we gutted the entire interior and did MEP and everything, new walls, everything.
RCCD CAADO 309: outside of the perimeter and stabilizing walls, that would be a modernization. Okay, thank you.
RCCD CAADO 309: Did I Sesame Street that well enough?
RCCD CAADO 309: Do you speak, Cheryl? No, I speak faculty. Are you putting me in the same category of faculty? Two photos of the top is the operations center, and the bottom is the student success building. Both open faculty at the top one.
RCCD CAADO 309: The Step 1 was up in 2013, and the other one was up in 2013.
RCCD CAADO 309: Next slide.
RCCD CAADO 309: This is the University College. You see here, top photo is the key building, the administration building of, I mean, 2016.
RCCD CAADO 309: And, number one is this building, with the Paul Centennial Plaza of this building in 2016.
RCCD CAADO 309: All right, as I see was $350 million, how about the district level?
RCCD CAADO 309: $182 million from state government funding and other resources, bringing the total amount to $568 million.
RCCD CAADO 309: Just a little comment.
RCCD CAADO 309: On this page. So, obviously, the focus of this group is financial stewardship, also compliance with,
RCCD CAADO 309: operating recollections.
RCCD CAADO 309: From our standpoint, this is, you know, philosophically and procedurally, this will Under my leadership.
RCCD CAADO 309: In the business operation, you know, tidbit.
RCCD CAADO 309: You know, responsibility very seriously.
RCCD CAADO 309: As it relates to Measure C, from a credit rating standpoint, they evaluate credit rating
RCCD CAADO 309: Each time you do an authorization or refunding.
RCCD CAADO 309: Oh, true.
RCCD CAADO 309: the two that we do, that we utilize, Moody's and Center.
RCCD CAADO 309: And they grade you on your financial capability and stewardship.
RCCD CAADO 309: Property taxes within the York District.
RCCD CAADO 309: The third category is user management.
RCCD CAADO 309: How well your district is matched, and what kind of, longevity do you have with people in place there?
RCCD CAADO 309: And we score very high on that. This is probably the highest that we can score.
RCCD CAADO 309: The only way that we would probably realize any kind of upgrade to the next highest level.
RCCD CAADO 309: Would be if we were in a different area that had higher property taxes.
RCCD CAADO 309: But that's something that's out of our control.
RCCD CAADO 309: We scored very high in this one.
RCCD CAADO 309: By essentially the highest rating that you could possibly get.
RCCD CAADO 309: From a tax rate standpoint, we promised the voters that we, limit our, tax rate per $100,000 of assessed value of the patient to $18. We saved below… added below that the entire 20-plus years that we've had that outstanding bonds. Currently, it's at $14 per $100,000.
RCCD CAADO 309: Let me go to issue bonds,
RCCD CAADO 309: For refunding, we wanted to keep our debt, ratio below 2%, and we've done that on every single issuance. We've got a rate ranging from 1.6 to .6%.
RCCD CAADO 309: And over the… For refundings that we've had, we've saved the taxpayers $40,000.
RCCD CAADO 309: unreliable.
RCCD CAADO 309: So, I think… And then also, from the audit standpoint, we've had…
RCCD CAADO 309: I was trying to recall whether or not we had any recommendations or findings.
RCCD CAADO 309: 20 years. I think we may have had one, linked to a cutoff issue.
RCCD CAADO 309: Your account's kind of work.
RCCD CAADO 309: But other than that, we've had clean opinions, both from a compliance standpoint and a financial standpoint.
RCCD CAADO 309: For every…
RCCD CAADO 309: I think you can demonstrate, too.
RCCD CAADO 309: public, that means, have good financial stewardship over the major CPA.
RCCD CAADO 309: set the high bar for weeks. We're gonna expect it now for CC as well. We do too. Yeah, seriously, we do. We expect nothing less, I guess.
RCCD CAADO 309: I know there's…
RCCD CAADO 309: I don't know how many more pages, probably 30-plus pages of all the different projects that came after this. We weren't planning to go over every single project.
RCCD CAADO 309: But if you guys have questions on, you know, any of the projects that you've done.
RCCD CAADO 309: Feel free to ask us. Not just now, but anytime in the future as well, and we'll be happy to answer those questions.
RCCD CAADO 309: I just think it's important if there's any way you can get this
RCCD CAADO 309: on your, flashy something on your website, just to kind of remind people what bond measures can do, because it's very impressive. I mean, all of the buildings and the technology and the upgrading that you've done,
RCCD CAADO 309: all people see is, oh, I'll raise my taxes again, but that's very impressive. It's… yes, plus it's… And it's done. Education is adding to the tax base eventually.
RCCD CAADO 309: You know, it's just such a plus.
RCCD CAADO 309: The chancellor's had us put together a slide presentation that the trustees can take out, and really more than the trustees, the presidents, etc, so that they can do community presentations to continue the effort that started with a number of people going out in advance of the bond. Yes, yes. And so he's hoping that that will continue
RCCD CAADO 309: From that community place, because there was a lot of, goodwill built.
RCCD CAADO 309: And he wants to continue and perpetuate that, so one of the places is he's hoping to do that through some community presentations, either with the board members or
RCCD CAADO 309: other senior executive members across the district. So, that's one place, but I… I will talk with Chris about, after, Measure C, before Measure A, we had a pretty big, you'd just done a refunding, and we did a pretty good story, that we put in the press. So we'll…
RCCD CAADO 309: It's not really the best way to reach people.
RCCD CAADO 309: Anymore, but… Huh? Yeah. Yeah, we can do it, we can do a 30-second video, and we'll get it out there. Yeah. We're gonna have Erin doing some dancing, it's gonna be great. So we'll… We want to keep. Yeah. Yeah, Missy? Okay. We'll have some…
RCCD CAADO 309: Just across the office, but we'll see, what additional promotion we can do. It's not,
RCCD CAADO 309: But as buildings and things continue to come online, people are becoming more aware, and you will start to see invitations to things, as groundbreakings, happen, and…
RCCD CAADO 309: Continue. So I know we didn't,
RCCD CAADO 309: update to this one, but last year, and it was posted on the website. But this one was presented to the board yesterday, presented today, and we will post also on the website, and it will be accessible by the community.
RCCD CAADO 309: Yeah, and I… that's a good point. There is a… there is an oversight committee page, it links back to the facilities pages where all of this is posted, but you have to… you have to be searching for it, so we have… part of it is we have to push it out, so I can talk to, of course, the PAOs.
RCCD CAADO 309: We've tried to modernize the website so you can showcase. Thanks, yeah.
RCCD CAADO 309: I know we've got better footage of the facilities, we've got some aerial footage and some different things there that are more TikTok-worthy, to the point.
RCCD CAADO 309: But, the Organic Chemistry Lab is December 8th?
RCCD CAADO 309: I think it's… there's an event, later in the…
RCCD CAADO 309: later in the year. So you'll… you'll start to see things. They'll either come, through Renee in the CBOC email, or they may come from the colleges directly, but, those should start populating, because you just heard about
RCCD CAADO 309: A number of projects that are happening, so each one of those you'll see.
RCCD CAADO 309: Great.
RCCD CAADO 309: All right, project update, the first one is, energy is the organic cancer lab, and, that project, actually now open, and the students are in the lab and using the… all the few modes, and, the new lab is delivered a few weeks ago.
RCCD CAADO 309: Major CeCe and Marina Bali, we have one, which is the, State Funded Projects and Library Learning Resource Center.
RCCD CAADO 309: And we are currently in the design, and our plan is to complete
RCCD CAADO 309: the prelim plans by end of… by mid of, December, I submitted the state for approval.
RCCD CAADO 309: Marco College, we have three projects. The first one is the Kinesiology that's currently under construction. The second project, the Library, Learning Resource Center and the Student Services, and this project, also a state-funded project, and currently under design.
RCCD CAADO 309: And the curling plan will be submitted to the state by middle of December.
RCCD CAADO 309: Corona Education Center is the, you know, abatement of the site. Actually, I don't know if you, if you ride by the site now, you can see a very clean site, no jack buildings, nothing, you know, there's a nice fence, security cameras, signage in the very near future.
RCCD CAADO 309: what's being… I haven't heard of any course of action.
RCCD CAADO 309: Central.
RCCD CAADO 309: Good.
RCCD CAADO 309: Sure, the community appreciates it. We have the security, the blue light security cameras that are on the property as well. So, with all those efforts, hopefully we're not going to get too much intrusion in there. Right.
RCCD CAADO 309: Where it's located, though, it backs up to the flood control.
RCCD CAADO 309: intersection of flood control.
RCCD CAADO 309: That area, which is pretty… Rustic. A lot of hiding places, in other words, so…
RCCD CAADO 309: If we're gonna get any incursions, probably gonna go where that site. And there's still a depression area where the, the delivery,
RCCD CAADO 309: ramp was for the stores, so it's below grade, so it's… that's also probably a place where some hideout can occur. Although we…
RCCD CAADO 309: It is part of our,
RCCD CAADO 309: They swing by that property and actually go on… go inside the property, and do a… do a swing, so…
RCCD CAADO 309: We're trying as much as we can to keep people on the property, really.
RCCD CAADO 309: It's much better since the buildings are cut.
RCCD CAADO 309: For City College, the Cosby College program that's currently in the design, and also our plan to complete the program plans, December.
RCCD CAADO 309: Ietdc, the… was presented that the board approved on the project, so…
RCCD CAADO 309: We are currently… we finalized, actually, all the demo of the site and the site security and the testing, similar to the current education center, and we are currently working with the city at the time.
RCCD CAADO 309: On that property, we also have the… Eject the mirror.
RCCD CAADO 309: It was…
RCCD CAADO 309: a person who kind of ran the whole homeless area. I mean, there was probably, I don't know how many people were on that property, but there was one person that was kind of the lead person, and I'm trying to get her to move on to some other location.
RCCD CAADO 309: And lastly, for the center, also, we are working on the, design of the future moving 2A.
RCCD CAADO 309: And the payment plan.
RCCD CAADO 309: It's very blank.
RCCD CAADO 309: She'll be having that same question.
RCCD CAADO 309: Any questions?
RCCD CAADO 309: Cool, thank you.
RCCD CAADO 309: And Jordan Park, he's walking over, so… So we'll do the audit.
RCCD CAADO 309: Or the annual report. That's information-only item. Yeah.
RCCD CAADO 309: every year, as required, this… there is a compilation, basically, of the meeting minutes that you all go through. Hey, Jordan,
RCCD CAADO 309: And we put it into an annual report, it goes before the board, the board accepts it, which is really, the motion… the actions that you all have taken in the past year, and a summary of what's, happened.
RCCD CAADO 309: This went to the board, this last meeting. Mike presented it. We're sharing it with you here, just as an FYI piece, so that you know that it's there. It'll be posted with the, on the CBOC
RCCD CAADO 309: website as well, but as you take action on minutes, those become and turn into this update. So, if there's any questions, I'm happy to answer those. But Mike was present at the board meeting on Tuesday and was able to do that.
RCCD CAADO 309: Right. So, thank you.
RCCD CAADO 309: Welcome, Jordan, just in time. We've gone through our information items, and we are going to now move on to item 3A, approval of the minutes from July.
RCCD CAADO 309: Did everybody have the opportunity to read those? They were in the packet.
RCCD CAADO 309: That we received.
RCCD CAADO 309: Come on.
RCCD CAADO 309: Do I have a motion to approve the minutes?
RCCD CAADO 309: I mean that we approve the minutes from the July something or other meeting, 10? Yeah, great, thank you. Second.
RCCD CAADO 309: All in favor? Aye. Aye. Opposed?
RCCD CAADO 309: Sing? I've seen. Saying?
RCCD CAADO 309: Okay.
RCCD CAADO 309: Alright, so we're going to… Talk about the audit now? Great.
RCCD CAADO 309: So, so we're going to present… so, number 4 is Proposition 39, Audit Report for Measure C, which will be the final closeout of Measure C, as you heard.
RCCD CAADO 309: And so, we have our external auditor, who here will present that, and then we'll move on to item 5, which is Measure CC. So we split them into two separate audit reports. With that, I'll hand it over to Hana.
RCCD CAADO 309: Perfect. Thank you, John. Hi guys, thanks for having me here. So, my name is Anna Cavillian, I'm an audit manager with IPAD. I've been working on an audit for several years now, so I'm happy to be here today to present the two bond audit reports.
RCCD CAADO 309: So if we can get started, if you scroll down just a little bit…
RCCD CAADO 309: So the first thing that I'd like to present is the, opinion. So, the report itself is about 15-ish pages.
RCCD CAADO 309: Really what belongs to us as the auditors is the first two to three pages. So this outlines what our responsibility as auditors is. So as external auditors, we just express an opinion on the financial statements. The financial statements that are presented were prepared, reviewed, approved by management.
RCCD CAADO 309: We come in, we perform our audit procedures, and we issue an opinion.
RCCD CAADO 309: And so, if we just scroll down…
RCCD CAADO 309: So, let me go down to the next page. So, I'm happy to present that we were able to, issue an unmodified opinion on Measure C. An unmodified opinion is the highest level of opinion we can, present, which basically means we didn't have any audit adjustments, we didn't have any findings.
RCCD CAADO 309: And so I'll kind of, go over some of the highlights. If you guys kind of heard earlier, Measure C is all wrapped up, so you'll see on this page, there is zero fund balance, which means there is no other, funds to expend. And if you scroll down to the next page…
RCCD CAADO 309: This is really what the highlight is. This will show you any revenues for the year, which is just gonna be interest and the change in the fair market value with the cash held with the county, and then it's also gonna show the expenditures.
RCCD CAADO 309: One of the things that Mana Trent had highlighted earlier is that you guys were able to kind of shift some expenses around to make sure that, you guys expended those, since there was some unrestricted funds that were spent. We included those in the scope of our audit to make sure that those are also allowable.
RCCD CAADO 309: That's gonna be the financial statement. If you're really curious about any of the balances presented, we have some lengthy notes in here that you can always refer to, but we're just gonna skip right over them.
RCCD CAADO 309: So, as part of the bond audit, in addition to the financial statement audit, we also perform a compliance audit. So, what that means is we come in and we're not just looking at, you know, how much cash do you guys have, what are the payable balances, but we're actually testing expenditures. So, we look at invoices, purchase orders, change orders when applicable, to make sure that the expenditures that the district has made are in line with voter
RCCD CAADO 309: measures. And so that's what these pages are gonna be.
RCCD CAADO 309: don't see that well. I'm wearing contacts, but yeah.
RCCD CAADO 309: Down on page… I think the funnest part of the audit… performance audit agent… It's work out.
RCCD CAADO 309: Perfect. So down in here, it's gonna kind of give you a breakdown of everything we do for the performance audit, but something that's really fun to the, members is always how much of the expenditures we get.
RCCD CAADO 309: There we go. So, we were actually able to test $5.9 million of the total 6.6, so that's 90% of the expenditures that were spent out of Measure C. So,
RCCD CAADO 309: Thank you to management and their staff for providing all of this stuff. It's a pretty lengthy process, but we were able to review that, and like I said, we didn't have any compliance issues or findings. Any questions we had were answered by management, and we felt comfortable with our opinion.
RCCD CAADO 309: And so you'll see a bunch of blank pages in the report, too. Blank pages and audit reports are always great. That means there's no findings or nothing to discuss. That one's gonna be Measure C. Question? And that six months, that's just… this is just a one year? One fiscal year? Yes, this is just not cumulative. These were the last expenditures that, Measure C had.
RCCD CAADO 309: Great, thanks.
RCCD CAADO 309: Okay, and then this was, management usually prepares a bond project summary that kind of goes over any projects, and it'll show you, where that $6 million, what projects those, expenses were correlated with.
RCCD CAADO 309: So… Any other questions for measures B before we go on to measures C?
RCCD CAADO 309: Great, we'll keep on going. So same spiel, we have our opinion. Again, we're able to, issue an unmodified opinion here as well.
RCCD CAADO 309: And so that means, no, we also didn't have any adjustments. Sometimes we do issue an unmodified opinion, but we might still have adjustments that were needed. We didn't have any of those in the situation, so…
RCCD CAADO 309: Here we're going to show all of the assets, liabilities, and you'll see the fund balance. So there's $185 million in restricted funds that are going to be spent on future projects. Kind of like Misty went over, those, projects have already been allocated.
RCCD CAADO 309: Scroll down, here's gonna be…
RCCD CAADO 309: Here you'll see the proceeds from the issue, and so, like I mentioned, $205 million was issued, so that comes in as, another financing source on the financial scene.
RCCD CAADO 309: Again, we have some fine notes in here, if you're really curious about all the details.
RCCD CAADO 309: And then we go straight into… these are the blank pages outside of Mouse, financial statement findings, you'll see there it's all blank.
RCCD CAADO 309: It's what you always want to see in an audit report. Next, we have the performance audit, and again, we were… we didn't have any issues with compliance. All of the expenditures we tested, we felt were, in line with the voter-approved ballot measure. And I want to say we tested 96% of measures CC.
RCCD CAADO 309: One more.
RCCD CAADO 309: Right down here. So, $21.8 million is what we looked at here, so it was 96%. There was some big land purchases this year, so that took up a lot of those, expenditures, but we were able to look at that. We felt comfortable with everything we were able to see.
RCCD CAADO 309: And then, of course, at the back, there's gonna be the new project summary, so you'll see all of the different projects that Billy Smith has already allocated, and any of the expenditures for what projects they were in line with.
RCCD CAADO 309: As I straight…
RCCD CAADO 309: That's a lot of work. The whole $954 million that will sit out by the individual projects. It is kind of neat, not every bond report does have those, but I think it's really helpful for financial statement users to kind of see what projects those are going towards.
RCCD CAADO 309: Good job. I was gonna say, congratulations to the staff, too.
RCCD CAADO 309: Yeah. There…
RCCD CAADO 309: It can be a lot of work. Then they gotta do the district paperwork, so… That's just the CBOC audit, that's not including the health district audits, so… This is our… Or the foundation, yeah. We're sharing about right now, so… Yeah, so, along with the bond reports, we do issue
RCCD CAADO 309: letters to the board as well that would outline if there was any, difficulties to be encountered, any significant estimates, anything of the sort. I'm happy to say that it was a very buzzed audit. It's very quick. You guys have a really early meeting, and, management and…
RCCD CAADO 309: We work really well together to make sure that we meet any deadlines you guys have, so we had no difficulties or anything of the sort, so…
RCCD CAADO 309: Excellent. Timing-wise, you're looking to take this to board in December? Yeah.
RCCD CAADO 309: Just so you all know where it's going. Yeah.
RCCD CAADO 309: We're having a little problem with the OMB issuing compliance supplement, which our auditors aren't going to be able to…
RCCD CAADO 309: on the district level.
RCCD CAADO 309: I don't know if that's okay.
RCCD CAADO 309: Doesn't impact fate, doesn't impact… the foundation can only impacts that federal compliance.
RCCD CAADO 309: Thank you so much. Thank you, guys. Thank you.
RCCD CAADO 309: So there's no action to take on this.
RCCD CAADO 309: Okay, not information only, okay.
RCCD CAADO 309: That…
RCCD CAADO 309: Are all of the items except for any business from committee members? Is there any business from committee members?
RCCD CAADO 309: No, but I'm gonna jump in, I'm not a committee member. One of the things with Measure C closing, that I will be looking into administratively, and I'll work with Aaron's team, is, changing the name.
RCCD CAADO 309: of CBOC to measure CC, because we don't have C anymore, and
RCCD CAADO 309: basically, I think we would need reinstated… restated bylaws, so I'll work with Straddling Yoga, who is our, bond counsel, to potentially have those updated. They may say it's easy, an administrative change, but that would have to go through the board, and then we do all the back end.
RCCD CAADO 309: website changes, but that is something that, potentially I will either have for your approval, before the next meeting, I'll take the direction from
RCCD CAADO 309: Council on whether or not it comes here just as an FYI information piece, or if it requires your action. It may require your action, but it may just require the board's action and an information update here. So, we'll find that out on, agenda's accordingly.
RCCD CAADO 309: All right, thank you. Anything else from any of the staff?
RCCD CAADO 309: Any committee members?
RCCD CAADO 309: Thank you, auditors.
RCCD CAADO 309: All right, then, if that means there's no other business, then I'll adjourn the meeting.
RCCD CAADO 309: Thank you all. Thank you. Thank you. Thank you for making quorum! We were going to just wait for you. Well, I'm glad you did.