WEBVTT 1 00:01:30.400 --> 00:01:31.250 Ashby, Stephen: Screen. 2 00:01:37.330 --> 00:01:38.270 Ashby, Stephen: They were now… 3 00:01:43.670 --> 00:01:45.020 RCCD CAADO 309: Hi, Steven! 4 00:01:45.020 --> 00:01:46.110 Ashby, Stephen: Hey, how are you? 5 00:01:46.710 --> 00:01:50.699 RCCD CAADO 309: Good. Is there any way you can, pause the meeting recording? 6 00:01:51.560 --> 00:01:52.969 Ashby, Stephen: No, we need to get all of our. 7 00:01:52.970 --> 00:01:55.380 RCCD CAADO 309: And then you're on the… Oh, okay. 8 00:01:59.020 --> 00:02:06.259 RCCD CAADO 309: I broke your ring down, I'll tell you that. 9 00:02:07.090 --> 00:02:08.619 RCCD CAADO 309: And do the audit at first. 10 00:02:08.830 --> 00:02:13.910 RCCD CAADO 309: Because it's information on the term for audit. So, looking for, okay. 11 00:02:14.230 --> 00:02:19.500 RCCD CAADO 309: Okay. So, hi, Vice Chair. 12 00:02:19.830 --> 00:02:26.479 RCCD CAADO 309: Yes! Yeah. Mike is not able to be here. 13 00:02:26.950 --> 00:02:32.999 RCCD CAADO 309: Don is something, and not here, medical procedure, and Mike is out. 14 00:02:33.160 --> 00:02:44.059 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, 15 00:02:44.610 --> 00:03:00.169 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. 16 00:03:00.390 --> 00:03:05.139 RCCD CAADO 309: Can you go through everything else except for the audit? 17 00:03:05.490 --> 00:03:19.999 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? 18 00:03:20.340 --> 00:03:28.550 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. 19 00:03:29.740 --> 00:03:33.860 RCCD CAADO 309: Okay. We can do the pledge, and then… Oh, pledge will be good. …and then, public comment. 20 00:03:36.320 --> 00:03:49.080 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. 21 00:03:54.870 --> 00:04:04.089 RCCD CAADO 309: Okay, we are called to order. Is there anybody from the public looking to make comments today? 22 00:04:04.250 --> 00:04:04.960 RCCD CAADO 309: Nice. 23 00:04:05.420 --> 00:04:12.780 RCCD CAADO 309: I don't think we have any public comments at this point. Awesome. Okay, we're going to… 24 00:04:12.890 --> 00:04:16.180 RCCD CAADO 309: Postpone item 3A. 25 00:04:17.209 --> 00:04:30.589 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. 26 00:04:32.250 --> 00:04:37.179 RCCD CAADO 309: We didn't know you were up there. No, I can't see the screen anymore. 27 00:04:39.280 --> 00:04:39.970 RCCD CAADO 309: Beautiful. 28 00:04:43.400 --> 00:04:48.079 RCCD CAADO 309: We've already been through this a million times, so everybody knows you. 29 00:04:48.200 --> 00:04:56.920 RCCD CAADO 309: Yeah. You might have to introduce yourself to Cheryl, but… All right. All right. So… 30 00:04:57.890 --> 00:05:06.779 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. 31 00:05:07.170 --> 00:05:15.750 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. 32 00:05:16.660 --> 00:05:34.960 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. 33 00:05:35.260 --> 00:05:42.150 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. 34 00:05:43.430 --> 00:05:55.560 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. 35 00:05:55.700 --> 00:06:02.539 RCCD CAADO 309: And this is due to the reconciliation process, excuse me, that occurs during the fund closing process. 36 00:06:02.980 --> 00:06:22.440 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. 37 00:06:23.900 --> 00:06:25.690 RCCD CAADO 309: And then the last section here. 38 00:06:26.420 --> 00:06:42.919 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. 39 00:06:43.340 --> 00:07:03.050 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. 40 00:07:03.060 --> 00:07:13.759 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. 41 00:07:13.970 --> 00:07:20.440 RCCD CAADO 309: The TSS renovation project at RCC, and the organic chemistry lab project at Reno Valley College. 42 00:07:20.890 --> 00:07:38.100 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. 43 00:07:39.650 --> 00:07:46.660 RCCD CAADO 309: There was also a change in the program reserve, or the contingency, and that was about $188,000. 44 00:07:46.850 --> 00:07:54.489 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. 45 00:07:55.770 --> 00:07:59.259 RCCD CAADO 309: Now, if you just scroll down a little bit, Renee. 46 00:07:59.570 --> 00:08:02.669 RCCD CAADO 309: What you'll see in the, 47 00:08:03.440 --> 00:08:05.289 RCCD CAADO 309: Actually, okay, in this call, I'm very careful. 48 00:08:06.750 --> 00:08:07.145 RCCD CAADO 309: Bye. 49 00:08:08.890 --> 00:08:11.959 RCCD CAADO 309: Change that to, like, 110 and 120. Or 150. 50 00:08:15.190 --> 00:08:24.520 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. 51 00:08:24.520 --> 00:08:39.059 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. 52 00:08:40.020 --> 00:08:43.690 RCCD CAADO 309: And that concludes this report. Are there any questions? 53 00:08:46.710 --> 00:08:48.970 RCCD CAADO 309: So, I just want to say that, 54 00:08:49.120 --> 00:08:51.929 RCCD CAADO 309: You know, through our year-end closing process, we're able to… 55 00:08:52.300 --> 00:09:06.700 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. 56 00:09:07.010 --> 00:09:15.699 RCCD CAADO 309: So… Essentially, the work and the expenditures, the work of the board now of the committee associated with, 57 00:09:15.930 --> 00:09:18.100 RCCD CAADO 309: Measure C, essentially… 58 00:09:18.740 --> 00:09:25.889 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. 59 00:09:26.040 --> 00:09:27.909 RCCD CAADO 309: And this… Body language. 60 00:09:28.920 --> 00:09:30.020 RCCD CAADO 309: She's super respectful. 61 00:09:30.690 --> 00:09:48.150 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… 62 00:09:49.120 --> 00:09:51.859 RCCD CAADO 309: from other sources. Okay. 63 00:09:52.470 --> 00:09:53.190 RCCD CAADO 309: Great. 64 00:09:57.650 --> 00:09:58.459 RCCD CAADO 309: Let's a few seconds. 65 00:10:06.460 --> 00:10:07.670 RCCD CAADO 309: Thank you, thank you. 66 00:10:07.910 --> 00:10:22.430 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. 67 00:10:22.790 --> 00:10:37.980 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. 68 00:10:38.980 --> 00:10:56.419 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. 69 00:10:56.730 --> 00:11:02.029 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. 70 00:11:08.290 --> 00:11:09.079 RCCD CAADO 309: Nope, nope. 71 00:11:10.300 --> 00:11:12.200 RCCD CAADO 309: Oh, there you go. 72 00:11:12.580 --> 00:11:14.860 RCCD CAADO 309: Yep, nope, yep, that one, yeah. 73 00:11:15.120 --> 00:11:19.469 RCCD CAADO 309: So, here in the, project commitment, in the post-project section. 74 00:11:19.770 --> 00:11:25.740 RCCD CAADO 309: This whole area increased by $954 million, which is indeed our, our, 75 00:11:26.140 --> 00:11:45.220 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. 76 00:11:45.220 --> 00:11:55.050 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. 77 00:11:55.490 --> 00:12:05.399 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… 78 00:12:05.590 --> 00:12:12.900 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. 79 00:12:14.810 --> 00:12:22.720 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… 80 00:12:23.550 --> 00:12:34.859 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. 81 00:12:35.560 --> 00:12:42.280 RCCD CAADO 309: Are all the other non-measure CC funding that's going to attribute to these projects that we have here. 82 00:12:42.370 --> 00:13:01.080 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. 83 00:13:01.560 --> 00:13:17.489 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? 84 00:13:17.680 --> 00:13:22.649 RCCD CAADO 309: So that it's committed, but it's not showing as… 85 00:13:23.380 --> 00:13:34.300 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… 86 00:13:34.440 --> 00:13:37.330 RCCD CAADO 309: the, Oversight Committee to know 87 00:13:37.700 --> 00:13:45.280 RCCD CAADO 309: Not only what the authorization is, and what has been issued today, but to see the full complement of what is 88 00:13:45.460 --> 00:13:47.980 RCCD CAADO 309: Gonna be obligated under the bond tool. 89 00:13:48.390 --> 00:13:49.310 RCCD CAADO 309: So… 90 00:13:50.020 --> 00:14:08.529 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. 91 00:14:08.660 --> 00:14:15.450 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. 92 00:14:15.610 --> 00:14:23.850 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. 93 00:14:24.080 --> 00:14:31.730 RCCD CAADO 309: project at RCC, which is probably going to be funded through the state. So, with all of those in play, 94 00:14:32.210 --> 00:14:41.010 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. 95 00:14:41.360 --> 00:14:51.620 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… 96 00:14:52.050 --> 00:14:56.659 RCCD CAADO 309: Yeah, primarily that. As we do additional issuances, I'll sweep that. 97 00:14:57.180 --> 00:14:58.770 RCCD CAADO 309: Negative down to zero. 98 00:15:00.210 --> 00:15:01.810 RCCD CAADO 309: Thank you. 99 00:15:04.040 --> 00:15:10.059 RCCD CAADO 309: Any more questions? Okay, so we'll go to number 7 now. 100 00:15:10.290 --> 00:15:10.960 RCCD CAADO 309: No. 101 00:15:12.270 --> 00:15:13.829 RCCD CAADO 309: Yeah, projects separate. 102 00:15:16.390 --> 00:15:17.910 RCCD CAADO 309: All right, 103 00:15:20.910 --> 00:15:24.449 RCCD CAADO 309: Good morning, everyone. For this update, we have… 104 00:15:25.850 --> 00:15:29.669 RCCD CAADO 309: 64 report. I will start off with the first one. 105 00:15:30.740 --> 00:15:35.329 RCCD CAADO 309: On August 19, the board approved the total project budget, 106 00:15:40.850 --> 00:15:49.790 RCCD CAADO 309: move, a total project budget of $36 million for Penny Clark Training Center, Education Building, Phase 2A. 107 00:15:50.130 --> 00:15:55.980 RCCD CAADO 309: This will be at the Vancouver Learning Center. This project is partially funded by Mr. CC. 108 00:16:07.860 --> 00:16:11.730 RCCD CAADO 309: This, board approved, the… 109 00:16:12.200 --> 00:16:16.489 RCCD CAADO 309: Allocation for Marina Valley College Library and Learning Resource Center. 110 00:16:17.330 --> 00:16:22.479 RCCD CAADO 309: project, is partially funded by the state, and also funded by the CCC. 111 00:16:24.900 --> 00:16:25.670 RCCD CAADO 309: No. 112 00:16:28.710 --> 00:16:35.540 RCCD CAADO 309: 118, of which… 43 from state allocation, 74.5 from… 113 00:16:39.400 --> 00:16:45.789 RCCD CAADO 309: The third project is the, Norco College Library Learning Resource Center. 114 00:16:46.230 --> 00:16:58.540 RCCD CAADO 309: The total amount of… 6.5, of which 32.8 from the state, and 72.7 from the Justice. 115 00:17:02.220 --> 00:17:18.519 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. 116 00:17:18.680 --> 00:17:26.459 RCCD CAADO 309: So, the board approved the, budget of the, Center for Human Performance and Kinesiology at Monaco. 117 00:17:27.200 --> 00:17:33.220 RCCD CAADO 309: Individual amount of 34, or… 31 from this data, 22.7 from the state. 118 00:17:33.530 --> 00:17:39.860 RCCD CAADO 309: Including also a secondary effect, which is the upper grading to the shoulder, and the total MRNA polyure 119 00:17:44.820 --> 00:17:48.730 RCCD CAADO 309: The last project, which is really the, 120 00:17:50.450 --> 00:17:54.819 RCCD CAADO 309: state-funded project at Riverside City College in Neocosmetology. 121 00:17:55.280 --> 00:17:59.249 RCCD CAADO 309: The project approved the total budget of small companies. 122 00:18:03.470 --> 00:18:11.209 RCCD CAADO 309: $57.2 million, of which $19.8 from the state, and $37.3 from the Nucci's. 123 00:18:11.920 --> 00:18:16.560 RCCD CAADO 309: So, as I mentioned, pretty much all the money being… allocated to 124 00:18:20.620 --> 00:18:33.160 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. 125 00:18:35.580 --> 00:18:43.590 RCCD CAADO 309: And that's the, approval of 94 million… sorry, 94… 94,000, for the 126 00:18:48.910 --> 00:18:49.740 RCCD CAADO 309: More or less. 127 00:18:54.320 --> 00:18:55.790 RCCD CAADO 309: That covers all the waterfalls 128 00:18:55.900 --> 00:19:05.140 RCCD CAADO 309: Is there still, opposition from the community about the demolition of the cosmetology building, the current cosmetology building? 129 00:19:06.690 --> 00:19:11.859 RCCD CAADO 309: If we were standing outside your house, I would… I would say, from one council member, yes. 130 00:19:12.190 --> 00:19:12.880 RCCD CAADO 309: Okay. 131 00:19:13.510 --> 00:19:16.280 RCCD CAADO 309: I don't know if there's community… Hmm. 132 00:19:16.430 --> 00:19:20.740 RCCD CAADO 309: Have you heard community? Okay, I don't think that there's… 133 00:19:20.910 --> 00:19:23.180 RCCD CAADO 309: Kind of aligned with it. Yeah. 134 00:19:23.330 --> 00:19:25.109 RCCD CAADO 309: It's okay. 135 00:19:25.210 --> 00:19:31.050 RCCD CAADO 309: We've had a, this horrible survey done a little Just receiving results. 136 00:19:32.610 --> 00:19:35.420 RCCD CAADO 309: There are some issues that are probably… 137 00:19:36.970 --> 00:19:38.489 RCCD CAADO 309: Once we have a chance to pull. 138 00:19:39.580 --> 00:19:41.150 RCCD CAADO 309: Another reporter. 139 00:19:41.780 --> 00:19:42.809 RCCD CAADO 309: You need to decide. 140 00:19:44.420 --> 00:20:07.840 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. 141 00:20:08.500 --> 00:20:11.429 RCCD CAADO 309: That's why a bunch of stuff downtown. 142 00:20:12.870 --> 00:20:24.550 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… 143 00:20:25.020 --> 00:20:28.700 RCCD CAADO 309: So… Yeah, the only… we don't need to have a decision made yet. 144 00:20:28.880 --> 00:20:33.110 RCCD CAADO 309: One of the issues with that building, the demolition was going to occur just to replace them. 145 00:20:33.220 --> 00:20:40.110 RCCD CAADO 309: parking that the new building is going to take up. So, we'll have to have a decision. 146 00:20:40.270 --> 00:20:45.620 RCCD CAADO 309: or replacing the parking. 147 00:20:45.730 --> 00:20:47.759 RCCD CAADO 309: One way or another. Yeah. 148 00:20:48.460 --> 00:20:49.949 RCCD CAADO 309: That was… 149 00:20:50.670 --> 00:20:56.699 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. 150 00:20:56.820 --> 00:20:58.889 RCCD CAADO 309: Faculty needed a new building. 151 00:20:59.170 --> 00:21:04.809 RCCD CAADO 309: One of the quandary is gonna be up, it's gonna be saved, but it's gonna take multiple days. 152 00:21:05.020 --> 00:21:12.360 RCCD CAADO 309: of dollars to have this remediation, HVAC improvements, and all kinds of stuff, so… 153 00:21:14.040 --> 00:21:16.480 RCCD CAADO 309: That's why it's gonna be interesting. 154 00:21:17.080 --> 00:21:21.270 RCCD CAADO 309: where it goes on the discussion, so… Wow. 155 00:21:22.910 --> 00:21:26.770 RCCD CAADO 309: I hope he's able to help with other resources. 156 00:21:27.420 --> 00:21:28.450 RCCD CAADO 309: Yeah. 157 00:21:28.630 --> 00:21:39.710 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… 158 00:21:40.760 --> 00:21:43.640 RCCD CAADO 309: One slide, please. 159 00:21:43.930 --> 00:21:57.190 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. 160 00:21:59.160 --> 00:21:59.950 RCCD CAADO 309: That's fine. 161 00:22:00.450 --> 00:22:01.700 RCCD CAADO 309: Oh, that's fancy. 162 00:22:02.260 --> 00:22:10.300 RCCD CAADO 309: Great, I'm gonna go over this one really quickly, especially the, you know, first few slides. Measure C was 2004. 163 00:22:10.550 --> 00:22:14.800 RCCD CAADO 309: And authorize the district to expand family if you know him. 164 00:22:15.020 --> 00:22:21.070 RCCD CAADO 309: To modernize and construct the new facilities, including all the infrastructure at the rate. 165 00:22:21.360 --> 00:22:24.489 RCCD CAADO 309: Construction started in 2006. 166 00:22:24.900 --> 00:22:27.800 RCCD CAADO 309: And then, actually completed 2012. 167 00:22:28.020 --> 00:22:36.519 RCCD CAADO 309: last project that was funded by the HBC. Next slide. 168 00:22:37.730 --> 00:22:45.629 RCCD CAADO 309: Let's see by the numbers, I'm just gonna highlight a few of them, deliver 15 new academic, students facilities. 169 00:22:45.740 --> 00:22:51.050 RCCD CAADO 309: Renovated, 6 facilities, modernized 11. 170 00:22:51.300 --> 00:22:57.569 RCCD CAADO 309: deliver 7 buildings that receive LEED certification, which is high-efficient. 171 00:22:57.860 --> 00:23:04.750 RCCD CAADO 309: Buildings, leadership leads, that's all leadership and energy and environmental design. 172 00:23:05.040 --> 00:23:17.710 RCCD CAADO 309: Measure C, added about 270,000 assignable square footage in lab, classrooms, office space, and library. 173 00:23:18.120 --> 00:23:27.040 RCCD CAADO 309: Major C, Tony, really, you know, invested in hiring hundreds of local vendors, and, and more compares. 174 00:23:30.010 --> 00:23:34.009 RCCD CAADO 309: How does the growth of the district? I just see added about… 175 00:23:34.160 --> 00:23:39.940 RCCD CAADO 309: Million gross square footage, or 2,270,000 square footage. 176 00:23:41.830 --> 00:23:46.430 RCCD CAADO 309: The efficiency of the, building is 65%. 177 00:23:46.580 --> 00:23:52.390 RCCD CAADO 309: good, good rate of efficiency for, for things at, like institutions, I guess. 178 00:23:55.200 --> 00:24:05.200 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. 179 00:24:05.700 --> 00:24:11.639 RCCD CAADO 309: And at the bottom is the Clark, public school, public safety, or credit card training center across all of it. 180 00:24:14.920 --> 00:24:16.739 RCCD CAADO 309: That's it. Yes. 181 00:24:17.110 --> 00:24:22.159 RCCD CAADO 309: Just a quick question. What might the distinction be between modernized and improved and upgraded? 182 00:24:22.550 --> 00:24:30.239 RCCD CAADO 309: One right now is, is, you know, to complete, you know, we got the hope of the holes. 183 00:24:30.390 --> 00:24:35.000 RCCD CAADO 309: the whole structure, we just keep the stud. Okay. And then we modernize the whole system. 184 00:24:35.190 --> 00:24:40.059 RCCD CAADO 309: And upgrade also all the structural components and all the other systems. 185 00:24:40.210 --> 00:24:43.420 RCCD CAADO 309: And we kind of got into a couple, and welcome. 186 00:24:44.670 --> 00:24:49.920 RCCD CAADO 309: Without tearing down walls? Or… without tearing walls. I mean, there are, 187 00:24:50.950 --> 00:24:53.519 RCCD CAADO 309: There are, you know, just partitions that can be… 188 00:24:53.610 --> 00:25:12.349 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… 189 00:25:12.500 --> 00:25:29.789 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. 190 00:25:30.210 --> 00:25:35.690 RCCD CAADO 309: outside of the perimeter and stabilizing walls, that would be a modernization. Okay, thank you. 191 00:25:36.700 --> 00:25:39.519 RCCD CAADO 309: Did I Sesame Street that well enough? 192 00:25:41.240 --> 00:25:58.419 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. 193 00:25:59.160 --> 00:26:02.269 RCCD CAADO 309: The Step 1 was up in 2013, and the other one was up in 2013. 194 00:26:03.430 --> 00:26:04.290 RCCD CAADO 309: Next slide. 195 00:26:04.950 --> 00:26:13.350 RCCD CAADO 309: This is the University College. You see here, top photo is the key building, the administration building of, I mean, 2016. 196 00:26:13.720 --> 00:26:20.829 RCCD CAADO 309: And, number one is this building, with the Paul Centennial Plaza of this building in 2016. 197 00:26:22.600 --> 00:26:27.309 RCCD CAADO 309: All right, as I see was $350 million, how about the district level? 198 00:26:27.420 --> 00:26:37.809 RCCD CAADO 309: $182 million from state government funding and other resources, bringing the total amount to $568 million. 199 00:26:42.170 --> 00:26:43.909 RCCD CAADO 309: Just a little comment. 200 00:26:44.020 --> 00:26:51.700 RCCD CAADO 309: On this page. So, obviously, the focus of this group is financial stewardship, also compliance with, 201 00:26:51.910 --> 00:26:53.640 RCCD CAADO 309: operating recollections. 202 00:26:53.850 --> 00:27:03.370 RCCD CAADO 309: From our standpoint, this is, you know, philosophically and procedurally, this will Under my leadership. 203 00:27:03.510 --> 00:27:06.819 RCCD CAADO 309: In the business operation, you know, tidbit. 204 00:27:07.750 --> 00:27:09.789 RCCD CAADO 309: You know, responsibility very seriously. 205 00:27:10.130 --> 00:27:16.530 RCCD CAADO 309: As it relates to Measure C, from a credit rating standpoint, they evaluate credit rating 206 00:27:17.050 --> 00:27:19.830 RCCD CAADO 309: Each time you do an authorization or refunding. 207 00:27:19.980 --> 00:27:21.020 RCCD CAADO 309: Oh, true. 208 00:27:22.020 --> 00:27:26.540 RCCD CAADO 309: the two that we do, that we utilize, Moody's and Center. 209 00:27:26.700 --> 00:27:31.359 RCCD CAADO 309: And they grade you on your financial capability and stewardship. 210 00:27:31.530 --> 00:27:34.999 RCCD CAADO 309: Property taxes within the York District. 211 00:27:39.430 --> 00:27:42.299 RCCD CAADO 309: The third category is user management. 212 00:27:43.370 --> 00:27:49.679 RCCD CAADO 309: How well your district is matched, and what kind of, longevity do you have with people in place there? 213 00:27:51.330 --> 00:27:58.559 RCCD CAADO 309: And we score very high on that. This is probably the highest that we can score. 214 00:27:58.940 --> 00:28:05.580 RCCD CAADO 309: The only way that we would probably realize any kind of upgrade to the next highest level. 215 00:28:05.830 --> 00:28:11.400 RCCD CAADO 309: Would be if we were in a different area that had higher property taxes. 216 00:28:12.210 --> 00:28:14.570 RCCD CAADO 309: But that's something that's out of our control. 217 00:28:14.830 --> 00:28:17.989 RCCD CAADO 309: We scored very high in this one. 218 00:28:18.340 --> 00:28:21.229 RCCD CAADO 309: By essentially the highest rating that you could possibly get. 219 00:28:21.610 --> 00:28:41.599 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. 220 00:28:42.320 --> 00:28:45.109 RCCD CAADO 309: Let me go to issue bonds, 221 00:28:45.270 --> 00:28:56.719 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%. 222 00:28:56.890 --> 00:29:02.560 RCCD CAADO 309: And over the… For refundings that we've had, we've saved the taxpayers $40,000. 223 00:29:03.090 --> 00:29:03.790 RCCD CAADO 309: unreliable. 224 00:29:03.980 --> 00:29:09.249 RCCD CAADO 309: So, I think… And then also, from the audit standpoint, we've had… 225 00:29:09.830 --> 00:29:14.270 RCCD CAADO 309: I was trying to recall whether or not we had any recommendations or findings. 226 00:29:14.960 --> 00:29:20.240 RCCD CAADO 309: 20 years. I think we may have had one, linked to a cutoff issue. 227 00:29:20.680 --> 00:29:21.600 RCCD CAADO 309: Your account's kind of work. 228 00:29:23.490 --> 00:29:28.809 RCCD CAADO 309: But other than that, we've had clean opinions, both from a compliance standpoint and a financial standpoint. 229 00:29:29.170 --> 00:29:30.279 RCCD CAADO 309: For every… 230 00:29:35.310 --> 00:29:37.260 RCCD CAADO 309: I think you can demonstrate, too. 231 00:29:37.810 --> 00:29:42.890 RCCD CAADO 309: public, that means, have good financial stewardship over the major CPA. 232 00:29:45.120 --> 00:29:54.359 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. 233 00:29:54.640 --> 00:29:56.070 RCCD CAADO 309: I know there's… 234 00:29:56.940 --> 00:30:03.699 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. 235 00:30:03.900 --> 00:30:08.219 RCCD CAADO 309: But if you guys have questions on, you know, any of the projects that you've done. 236 00:30:08.460 --> 00:30:14.130 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. 237 00:30:14.840 --> 00:30:18.599 RCCD CAADO 309: I just think it's important if there's any way you can get this 238 00:30:18.840 --> 00:30:34.599 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, 239 00:30:35.030 --> 00:30:45.709 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. 240 00:30:46.030 --> 00:30:48.760 RCCD CAADO 309: You know, it's just such a plus. 241 00:30:48.990 --> 00:31:06.479 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 242 00:31:06.480 --> 00:31:10.100 RCCD CAADO 309: From that community place, because there was a lot of, goodwill built. 243 00:31:10.100 --> 00:31:18.529 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 244 00:31:18.530 --> 00:31:37.199 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… 245 00:31:37.200 --> 00:31:39.679 RCCD CAADO 309: It's not really the best way to reach people. 246 00:31:40.430 --> 00:31:59.560 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… 247 00:31:59.560 --> 00:32:04.679 RCCD CAADO 309: Just across the office, but we'll see, what additional promotion we can do. It's not, 248 00:32:04.730 --> 00:32:14.699 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… 249 00:32:14.930 --> 00:32:17.320 RCCD CAADO 309: Continue. So I know we didn't, 250 00:32:18.280 --> 00:32:30.990 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. 251 00:32:31.480 --> 00:32:45.849 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. 252 00:32:46.800 --> 00:32:51.440 RCCD CAADO 309: We've tried to modernize the website so you can showcase. Thanks, yeah. 253 00:32:51.930 --> 00:33:02.390 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. 254 00:33:03.090 --> 00:33:10.029 RCCD CAADO 309: But, the Organic Chemistry Lab is December 8th? 255 00:33:10.320 --> 00:33:14.260 RCCD CAADO 309: I think it's… there's an event, later in the… 256 00:33:14.940 --> 00:33:26.860 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 257 00:33:27.300 --> 00:33:30.599 RCCD CAADO 309: A number of projects that are happening, so each one of those you'll see. 258 00:33:31.330 --> 00:33:32.270 RCCD CAADO 309: Great. 259 00:33:33.170 --> 00:33:51.289 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. 260 00:33:52.050 --> 00:33:59.509 RCCD CAADO 309: Major CeCe and Marina Bali, we have one, which is the, State Funded Projects and Library Learning Resource Center. 261 00:33:59.820 --> 00:34:04.939 RCCD CAADO 309: And we are currently in the design, and our plan is to complete 262 00:34:05.090 --> 00:34:11.479 RCCD CAADO 309: the prelim plans by end of… by mid of, December, I submitted the state for approval. 263 00:34:12.420 --> 00:34:28.269 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. 264 00:34:28.650 --> 00:34:33.899 RCCD CAADO 309: And the curling plan will be submitted to the state by middle of December. 265 00:34:34.610 --> 00:34:53.739 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. 266 00:34:54.260 --> 00:34:57.160 RCCD CAADO 309: what's being… I haven't heard of any course of action. 267 00:34:59.230 --> 00:34:59.940 RCCD CAADO 309: Central. 268 00:35:00.520 --> 00:35:01.620 RCCD CAADO 309: Good. 269 00:35:01.800 --> 00:35:15.530 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. 270 00:35:15.640 --> 00:35:18.989 RCCD CAADO 309: Where it's located, though, it backs up to the flood control. 271 00:35:19.200 --> 00:35:20.740 RCCD CAADO 309: intersection of flood control. 272 00:35:20.880 --> 00:35:27.459 RCCD CAADO 309: That area, which is pretty… Rustic. A lot of hiding places, in other words, so… 273 00:35:28.080 --> 00:35:35.500 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, 274 00:35:35.740 --> 00:35:46.540 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… 275 00:35:46.660 --> 00:35:48.550 RCCD CAADO 309: It is part of our, 276 00:35:48.820 --> 00:35:57.749 RCCD CAADO 309: They swing by that property and actually go on… go inside the property, and do a… do a swing, so… 277 00:35:58.470 --> 00:36:02.090 RCCD CAADO 309: We're trying as much as we can to keep people on the property, really. 278 00:36:03.770 --> 00:36:06.380 RCCD CAADO 309: It's much better since the buildings are cut. 279 00:36:07.330 --> 00:36:18.999 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. 280 00:36:19.600 --> 00:36:27.960 RCCD CAADO 309: Ietdc, the… was presented that the board approved on the project, so… 281 00:36:28.290 --> 00:36:38.770 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. 282 00:36:40.290 --> 00:36:45.649 RCCD CAADO 309: On that property, we also have the… Eject the mirror. 283 00:36:45.770 --> 00:36:46.610 RCCD CAADO 309: It was… 284 00:36:46.810 --> 00:37:02.800 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. 285 00:37:08.150 --> 00:37:17.610 RCCD CAADO 309: And lastly, for the center, also, we are working on the, design of the future moving 2A. 286 00:37:17.900 --> 00:37:19.260 RCCD CAADO 309: And the payment plan. 287 00:37:19.690 --> 00:37:20.999 RCCD CAADO 309: It's very blank. 288 00:37:24.700 --> 00:37:28.739 RCCD CAADO 309: She'll be having that same question. 289 00:37:30.610 --> 00:37:31.750 RCCD CAADO 309: Any questions? 290 00:37:34.300 --> 00:37:35.580 RCCD CAADO 309: Cool, thank you. 291 00:37:36.200 --> 00:37:41.430 RCCD CAADO 309: And Jordan Park, he's walking over, so… So we'll do the audit. 292 00:37:41.590 --> 00:37:47.620 RCCD CAADO 309: Or the annual report. That's information-only item. Yeah. 293 00:37:48.670 --> 00:37:58.429 RCCD CAADO 309: every year, as required, this… there is a compilation, basically, of the meeting minutes that you all go through. Hey, Jordan, 294 00:37:58.510 --> 00:38:12.190 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. 295 00:38:12.190 --> 00:38:24.799 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 296 00:38:24.800 --> 00:38:38.009 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. 297 00:38:38.690 --> 00:38:40.480 RCCD CAADO 309: Right. So, thank you. 298 00:38:41.400 --> 00:38:53.849 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. 299 00:38:56.910 --> 00:39:00.550 RCCD CAADO 309: Did everybody have the opportunity to read those? They were in the packet. 300 00:39:01.090 --> 00:39:02.539 RCCD CAADO 309: That we received. 301 00:39:02.680 --> 00:39:03.680 RCCD CAADO 309: Come on. 302 00:39:04.340 --> 00:39:07.150 RCCD CAADO 309: Do I have a motion to approve the minutes? 303 00:39:07.420 --> 00:39:14.559 RCCD CAADO 309: I mean that we approve the minutes from the July something or other meeting, 10? Yeah, great, thank you. Second. 304 00:39:15.400 --> 00:39:19.169 RCCD CAADO 309: All in favor? Aye. Aye. Opposed? 305 00:39:19.600 --> 00:39:22.419 RCCD CAADO 309: Sing? I've seen. Saying? 306 00:39:28.270 --> 00:39:29.060 RCCD CAADO 309: Okay. 307 00:39:30.270 --> 00:39:36.519 RCCD CAADO 309: Alright, so we're going to… Talk about the audit now? Great. 308 00:39:39.160 --> 00:39:50.570 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. 309 00:39:50.570 --> 00:40:01.430 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. 310 00:40:02.670 --> 00:40:17.260 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. 311 00:40:17.400 --> 00:40:21.749 RCCD CAADO 309: So if we can get started, if you scroll down just a little bit… 312 00:40:23.890 --> 00:40:32.050 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. 313 00:40:32.050 --> 00:40:49.220 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. 314 00:40:49.220 --> 00:40:53.500 RCCD CAADO 309: We come in, we perform our audit procedures, and we issue an opinion. 315 00:40:53.660 --> 00:40:56.130 RCCD CAADO 309: And so, if we just scroll down… 316 00:40:57.900 --> 00:41:15.879 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. 317 00:41:15.880 --> 00:41:32.090 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… 318 00:41:32.580 --> 00:41:45.029 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. 319 00:41:45.030 --> 00:42:02.299 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. 320 00:42:03.060 --> 00:42:13.399 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. 321 00:42:14.550 --> 00:42:37.819 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 322 00:42:37.840 --> 00:42:43.420 RCCD CAADO 309: measures. And so that's what these pages are gonna be. 323 00:42:43.970 --> 00:42:48.649 RCCD CAADO 309: don't see that well. I'm wearing contacts, but yeah. 324 00:42:48.790 --> 00:43:02.180 RCCD CAADO 309: Down on page… I think the funnest part of the audit… performance audit agent… It's work out. 325 00:43:02.940 --> 00:43:15.270 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. 326 00:43:16.570 --> 00:43:28.490 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, 327 00:43:28.940 --> 00:43:44.100 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. 328 00:43:44.310 --> 00:44:03.410 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. 329 00:44:03.410 --> 00:44:04.330 RCCD CAADO 309: Great, thanks. 330 00:44:04.680 --> 00:44:17.479 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. 331 00:44:17.700 --> 00:44:24.179 RCCD CAADO 309: So… Any other questions for measures B before we go on to measures C? 332 00:44:26.430 --> 00:44:35.809 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. 333 00:44:35.950 --> 00:44:46.269 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… 334 00:44:46.830 --> 00:45:02.509 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. 335 00:45:03.040 --> 00:45:05.359 RCCD CAADO 309: Scroll down, here's gonna be… 336 00:45:05.820 --> 00:45:15.620 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. 337 00:45:16.410 --> 00:45:22.020 RCCD CAADO 309: Again, we have some fine notes in here, if you're really curious about all the details. 338 00:45:24.920 --> 00:45:31.410 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. 339 00:45:31.490 --> 00:45:51.049 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. 340 00:46:00.470 --> 00:46:01.820 RCCD CAADO 309: One more. 341 00:46:02.230 --> 00:46:18.130 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. 342 00:46:18.860 --> 00:46:29.290 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. 343 00:46:31.120 --> 00:46:32.510 RCCD CAADO 309: As I straight… 344 00:46:33.900 --> 00:46:51.280 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. 345 00:46:53.020 --> 00:46:57.189 RCCD CAADO 309: Good job. I was gonna say, congratulations to the staff, too. 346 00:46:57.490 --> 00:47:01.050 RCCD CAADO 309: Yeah. There… 347 00:47:01.220 --> 00:47:20.360 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 348 00:47:20.360 --> 00:47:38.029 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… 349 00:47:38.130 --> 00:47:45.810 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… 350 00:47:46.180 --> 00:47:53.649 RCCD CAADO 309: Excellent. Timing-wise, you're looking to take this to board in December? Yeah. 351 00:47:55.290 --> 00:47:59.289 RCCD CAADO 309: Just so you all know where it's going. Yeah. 352 00:48:00.530 --> 00:48:07.820 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… 353 00:48:08.850 --> 00:48:10.169 RCCD CAADO 309: on the district level. 354 00:48:11.650 --> 00:48:13.210 RCCD CAADO 309: I don't know if that's okay. 355 00:48:13.710 --> 00:48:21.429 RCCD CAADO 309: Doesn't impact fate, doesn't impact… the foundation can only impacts that federal compliance. 356 00:48:24.670 --> 00:48:28.400 RCCD CAADO 309: Thank you so much. Thank you, guys. Thank you. 357 00:48:36.860 --> 00:48:40.409 RCCD CAADO 309: So there's no action to take on this. 358 00:48:40.810 --> 00:48:43.310 RCCD CAADO 309: Okay, not information only, okay. 359 00:48:45.600 --> 00:48:48.720 RCCD CAADO 309: That… 360 00:48:49.850 --> 00:48:55.880 RCCD CAADO 309: Are all of the items except for any business from committee members? Is there any business from committee members? 361 00:48:56.100 --> 00:49:11.470 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. 362 00:49:11.570 --> 00:49:16.930 RCCD CAADO 309: of CBOC to measure CC, because we don't have C anymore, and 363 00:49:17.540 --> 00:49:35.549 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. 364 00:49:36.050 --> 00:49:45.510 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 365 00:49:45.510 --> 00:50:01.409 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. 366 00:50:01.870 --> 00:50:05.739 RCCD CAADO 309: All right, thank you. Anything else from any of the staff? 367 00:50:05.840 --> 00:50:07.779 RCCD CAADO 309: Any committee members? 368 00:50:08.200 --> 00:50:09.660 RCCD CAADO 309: Thank you, auditors. 369 00:50:10.520 --> 00:50:16.350 RCCD CAADO 309: All right, then, if that means there's no other business, then I'll adjourn the meeting. 370 00:50:16.780 --> 00:50:30.400 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.