To: The Board of Education and Citizens of the Cupertino Union School District
On June 5, 2012, voters residing within the Cupertino Union School District demonstrated their confidence in the District by approving a $220 million general obligation bond measure (Measure H) under the rules established by Proposition 39. Voters approved the bond with a 66.16% affirmative vote.
I am pleased to present to you the 2013-2014 Annual Report of the Measure H Citizens’ Bond Oversight Committee covering the period of July 1, 2013 through June 30, 2014. This Annual Report is submitted to the Cupertino Union School District’s Board of Education and local district residents by the Cupertino Union School District’s Measure H Citizens’ Bond Oversight Committee in fulfillment of its role as specified by law.
The primary duties of the committee are to:
- Review bond expenditures to ensure that proceeds have been expended for the purposes set forth in Measure H
- Inform the public concerning the district’s expenditures of bond proceeds
- Present to the district’s governing board an annual report of the committee's proceedings and activities of the previous year
- Provide a statement indicating whether the district is in compliance with bond requirements
Included in this annual report are highlights and status updates of projects that will prolong the life of the district’s facilities and improve the learning experience of its students.
During the 2013-2014 fiscal year the District expended over $42 million on Measure H projects through out the District. The bulk of these expenditures are related to major modernization and expansion efforts at Cupertino and Lawson Middle Schools. Additionally, Sedgewick, Regnart, Meyerholz and West Valley Elementary Schools were also modernized with Measure H funds.
In April 2014, the District issued $99,995,000 of the $220 million authorization in Measure H General Obligation Bonds, Series B. These Bonds were issued to finance the repair, upgrading, acquisition, construction and equipping of District facilities.
The committee relied on the annual performance and financial audits conducted by Vavrinek, Trine, Day & Co., LLP (VTD), which disclosed no instances of non-compliance with the terms of Proposition 39 or Measure H. The committee is pleased to report that, to the best of its knowledge, the Cupertino Union School District is in full compliance with the responsibilities described in Article XIIIA, Section 1(b)(3) of the California State Constitution. A full disclosure of the performance and financial audits can be viewed here.
Respectfully submitted,
David Fung
Citizens’ Bond Oversight Committee Chair