Performance and Financial Audits
The independent accounting firm of Vavrinek, Trine, Day and Co., LLP has completed the FY19 Measure MM performance and financial audits. The audits were presented tothe Independent Citizens' Bond Oversight Committee (ICBOC) on January 14, 2020; and the MiraCosta Community College Board of Trustees on January 23, 2020.
The financial audit provides an unmodified opinion that the financial statements included in the audit report present fairly, in all material respects, the respective financial position of the Proposition MM building funds of the district as of June 30, 2019, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. The auditors did not identify any issues with Proposition MM internal controls.
The performance audit provides an opinion that the district complied with the requirements for the Proposition MM Bond proceeds and noted that there were no findings or questioned costs.
The ICBOC reviewed and approved its second Measure MM Annual Report at its May 15, 2020 meeting. The report was presented to the governing board at its June 11, 2020 meeting.