How will the District ensure appropriate control and use of bond funds?
The District will closely monitor all spending of bond funds and ensure that expenditures are in full compliance with all accounting rules and standards. Final records are audited each year by an independent accounting firm. For patrons, a detailed line-item list of proposed projects and the estimate of costs is available online as a link to “GCISD Facility Details: Opinion of Probable Cost.” This list was reviewed and approved by the Bond Planning Committee and was presented to the Board of Trustees. By law, bond proceeds may only be used for capital improvements and related costs. They may not be used for personnel, utilities, and other such operating expenses. In addition, to ensure appropriate accounting of bond dollars spent on each and every project, monthly bond reports will be presented to the Board of Trustees. The GCISD bond website will continue to be updated regularly throughout the bond program to reflect progress reports and status so that patrons can remain informed.
