CBOC Annual Report 2011-2012

Letter from the Chair

As the Chair of the Ohlone College Citizens’ Bond Oversight Committee, I am pleased to share with the Ohlone Community College District community this annual report for the fiscal year 2011-12. Our Annual Report covers the reporting period from July 1, 2011 through June 30, 2012.

The role of the Citizens’ Bond Oversight Committee (CBOC) is to provide oversight on the expenditures associated with the College’s two general obligation bonds, Measure A and Measure G. Ohlone College and the CBOC wish to express their gratitude to the community for its support of our students through these two successful ballot initiatives.

Measure A, a $150 million general obligation bond initiative, was approved by district voters in 2002. These proceeds were used to construct the innovative Ohlone College Newark Center for Health Sciences and Technology, the Student Services Center on the Fremont campus, and to support many infrastructure projects such as the Below Grade Water Intrusion project. We are quickly nearing completion of all Measure A projects.

Measure G, a $349 million general obligation bond initiative, was approved by district voters in November, 2010. Measure G authorizes funding for major repairs, renovations, and construction projects, primarily on Ohlone College’s Fremont campus. The projected work includes upgrades to all facilities for earthquake and fire safety, disabled access and new construction of a set of academic buildings at the core of the campus.

The principal duties of the CBOC are to ensure that bond proceeds have been expended for the purposes set forth in the ballot language of each bond; to report on progress annually to the public; and to provide a statement of compliance certifying that the College, during the reporting period, has met all the requirements established in both the ballot language and by statute.

The CBOC can state that, to the best of its knowledge based on current auditor reports and regular reporting by the College to the CBOC, the committee finds that the Ohlone Community College District is in full compliance with the responsibilities as described in Article XIIIA, Section 1 (b) (3) of the California State Constitution, which addresses bond indebtedness incurred by a community college district.

Further, the CBOC is very pleased with the progress made on bond projects during the past fiscal year. The College conducted two bond sales in October 2011: Series A in the amount of $70 Million and a Series A-1 in the amount of $10 Million to create a Technology Endowment that will fund future technology infrastructure upgrades and equipment purchases. The College did not issue any capital appreciation bonds during these sales.

The District Facilities Master Plan, through an exceptional effort by the Ohlone community, was completed and approved by the Ohlone College Board of Trustees at its May 2012 meeting. The Master Plan will guide the work of building design, construction and campus revitalization over the next six to ten years. Please review the progress of other bond projects at this link: ohlonebond.org.

Again, thank you for your continued support of Ohlone College and its students.

Rakesh Sharma,
Citizens’ Bond Oversight Committee Chair