News Release

FOR IMMEDIATE RELEASE
NR-03-18-26-Bond
March 18, 2026

Audit of Bond Spending Affirmed

The Santa Clarita Community College District's Independent Citizens' Bond Oversight Committee voted to accept the results of an independent audit confirming the district properly accounted for all bond expenditures in the 2024-25 fiscal year.

Eide Bailly, LLP conducted financial and performance audits and issued the District an unmodified opinion—the best rating possible—noting no adjustments, audit findings, questioned costs or instances of bond noncompliance.

“The district’s clean financial and performance audits of Measure E funds reflect our ongoing commitment to transparency,” said College of the Canyons Interim Superintendent-President Dr. Jasmine Ruys. “I want to thank our Business Services department and Eide Bailly for delivering a thorough and comprehensive review of the district’s bond use and compliance.”

Auditors reviewed documents associated with 89 percent of expenditures made with bond funds. Purchase orders, approved invoices, bid documentation, contracts, and budgets were reviewed and found to be compliant with state regulations and district board policies.

James de Bree, CPA, chair of the Independent Citizens' Bond Oversight Committee, said the review focused not only on past compliance but also on strengthening oversight of future bond-funded expenditures.

“The committee also reviewed new procedures the district has implemented to maximize the effectiveness of future bond-funded expenditures, and we are satisfied with those improvements,” added de Bree.

The audit showed $14.5 million of Measure E funds spent during 2024-25, primarily on the evaluation of the Valley Center Drive property for future district-use, repairs and modernization of the Valencia campus, the Advanced Technology Center, as well as technology infrastructure, replacements, and upgrades. In addition, Measure E funds were used to implement Phase 2 of the Boykin Hall modernization project.

“The Business Services department’s meticulous attention to detail and commitment to compliance play a critical role in protecting the fiscal integrity of the Measure E bond funds,” said Jason Hinkle, interim assistant superintendent/vice president of business services at the college. “This work helps ensure bond funds are used responsibly and in alignment with established financial standards and best practices.”

Since 2017, the college has spent a total of $150 million of Measure E bond revenue. Funded projects include the parking structure at the Valencia campus, along with the Central Energy Plant, Don Takeda Science Center, Student Services/Learning Resources Center at the Canyon Country campus, as well as repairs and modernization of existing campus facilities.

Local voters approved Measure E in June 2016, providing the college with $230 million to invest in facilities upgrades.

The committee also approved its Annual Report, which is available to the community on the college's website here.