2015 Bond Annual Report
The group of community members charged with reviewing Measure L expenditure reports and ensuring bond proceeds were expended by the District for the purposes set forth by Measure L released its first annual report. The 2015 Measure L Citizens’ Bond Oversight Committee 2015 Annual Report was presented to and approved by the Cuesta College Board of Trustees at its meeting on March 2, 2016.
“The Board of Trustees is pleased to present this report to the taxpayers of San Luis Obispo County,” said Cuesta College Board of Trustees President Pat Mullen. “The report states that bond expenditures have been properly managed and money solely spent on projects identified in the bond. The Board of Trustees appreciates the trust and support of the community in passing this bond, and is committed to the prudent use of these funds. The Board also appreciates the due diligence of all those working to ensure the District’s financial responsibility and looks forward to the varied improvements to Cuesta College resulting from these bond funds.”
The report contains results from an independent auditors’ report, performance audits, total bond expenditures, updates on the first issuance projects and renderings of the new facilities breaking ground at Cuesta College this month.
Measure L – a $275 million general obligation bond - was passed by San Luis Obispo County voters in November 2014 to address longstanding facility, infrastructure and technology needs. The $75 million first issuance of the bond began in spring 2015 and will culminate in 2018.