BILL NUMBER: SB 1473	AMENDED
	BILL TEXT

	AMENDED IN SENATE  APRIL 12, 2010
	AMENDED IN SENATE  MARCH 25, 2010

INTRODUCED BY   Senator Wyland

                        FEBRUARY 19, 2010

   An act to add Section 15281 to the Education Code, relating to
school facilities.


	LEGISLATIVE COUNSEL'S DIGEST


   SB 1473, as amended, Wyland. School facilities bond proceeds:
performance audits.
   The California Constitution limits the maximum amount of any ad
valorem tax on real property to 1% of the full cash value of the
property. The California Constitution states that the 1% limitation
for ad valorem taxes does not apply to ad valorem taxes or
assessments to pay the interest and redemption charges on bonded
indebtedness incurred by a school district, community college
district, or county office of education for the construction,
reconstruction, rehabilitation, or replacement of school facilities
approved by 55% of the voters if the proposition includes specified
accountability requirements. The accountability requirements include
a requirement that the governing board of either the school district
or community college district or the county office of education
conduct an annual, independent performance audit to ensure that the
funds are expended only on the specific projects listed in the
proposition authorizing the sale of the bonds.
   This bill would require a performance audit to be conducted in
accordance with the 2007 revision of Government Auditing Standards
issued by the Comptroller General of the United States  and
include a specified compliance statement  .
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 15281 is added to the Education Code, to read:
   15281.  The annual, independent performance audit required by
subparagraph (C) of paragraph (3) of subdivision (b) of Section 1 of
Article XIII A of the California Constitution shall be conducted in
accordance with the 2007 revision of Government Auditing Standards
issued by the Comptroller General of the United States  for
performance audits.   and shall contain the following
statement: "We conducted this performance audit in accordance with
generally accepted government auditing standards. Those standards
require that we plan and perform the audit to obtain sufficient,
appropriate evidence to provide a reasonable basis for our findings
and conclusions based on our audit objectives. We believe that the
evidence obtained provides a reasonable basis for our findings and
conclusions based on our audit objectives."