September 17, 2012 


Sweetwater's Superintendent Accused of Lacking "Truth, Transparency and Thoroughness"

Sept. 10, 2012 | By Candice Nguyen| 


EXCERPT: CHULA VISTA - Sweetwater's Citizens' Bond Oversight Committee is accusing Superintendend Ed Brand of lacking "truth, transparency and thoroughness." On Thursday, it had a vote of no confidence against him.

     Nick Marinovich, the committee's chair, told San Diego 6 News, "[The committee] basically felt, over a series of months, the committee was not given enough information on a timely basis, that it was not thorough enough and that our committee was not taken seriously enough." He added, "We requested information on whether Proposition O funds were being used to fund borrowing, and it took literally months to get that information."

     Sweetwater Union High School District spokesman, Manuel Rubio, responded to the concerns. He said, "We've been working with the Prop. O Bond Oversight Committee throughout the whole process. We worked to provide information as best possible, but in some cases we work in the limits we have with the information."...

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Poway Hires Forensic Accountant to Review Borrowing

Sept. 10, 2012 | By Will Carless |


EXCERPT: The Poway Unified School District has hired a forensic accountant to review its controversial 2011 bond issue, district Superintendent John Collins announced at a Monday night school board meeting.

     "We want to be open, transparent and forthright in our responsibility to the district," Collins said. "We realize that it's not good enough to say that we think we acted in good faith or we believe we did with the best industry expert advice and counsel. We want to take it a step further." ...

     ... At last month's board meeting, angry residents decried the deal and sought answers as to why the board chose to issue this type of bonds with such high repayment rates. One resident called on the county grand jury to investigate.

     Collins said the review requested by the district will address some of those questions, including:

* Did the district act responsibly upon the market information it was given at the time of the decision?

* Was the district given advice and counsel based on the highest industry standards?

* Are there any issues of integrity with any parties involved in this transaction?

* Were the fees paid to the parties involved at, or perhaps below industry standards? ...


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Updated: CaLBOC Website
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In This Issue
Sweetwater Superintendent Vote of No Confidence
Poway Hires Forensic Accountant
Update: CaLBOC Website
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