An independent, citizen-led Bond Oversight Committee will be established to oversee the use of bond funds if the bond passes.
About the Bond Oversight Committee
An important part of the 2020 Bond is our Bond Oversight Committee, an independent citizen-led body in charge of monitoring the planned improvements, progress, schedule and costs of the bond program.
The committee will actively monitor the bond program to:
- Ensure bond revenues are used only for the purposes consistent with the voter-approved 2018 bond program and consistent with state law.
- Reduce long-term maintenance, construction costs and improving efficiency and longevity, and innovative practices.
- Communicate key information related to the bond to all stakeholders.
- Review bond program performance and financial audits; and may inspect school facilities and grounds related to bond activities accompanied by district staff.
- Review quarterly reports produced by the district each year the bond proceeds are being spent in order to assess general compliance with the bond program approved by voters.
Authorization: The Redmond School District School Bond Oversight Committee is established as a committee of the Board of Directors. (Oregon Public Meeting Laws Apply)
Purpose and Authority: The purpose and authority of the Bond Oversight Committee is to convene quarterly or as needed to review progress on the Redmond School District Bond Measure 9-125. They will review project improvements, monitor spending (program progress), and monitor schedules. Further they will consider and recommend project modifications if inflationary increases in construction costs exceed current budget estimates. The Bond Oversight Committee shall report quarterly to the Board of Directors regarding program progress.
Estimated Time to carry out oversight: The Bond Oversight Committee shall be dissolved on January 1, 2023, or upon issuance of a final report by the Committee after all projects authorized by the Redmond School District Bond Measure 9-125 have been completed, whichever is earlier.
Frequency of Meetings: The Bond Oversight Committee shall meet no fewer than four times per year. Meetings shall be held at a time and location to be determined by the Committee Chair.
Membership: The Bond Oversight Committee shall be composed of no fewer than 7 and no more than 11 members, to be appointed by the Board Chair and approved by the Board. Members shall primarily be professionals with experience in construction, finance, auditing, public budgeting, banking and general business. The District’s Executive Director of Operations and Director of Fiscal Services shall serve as ex officio members.
Chair and Vice Chair: The Board Chair shall designate one member to serve as Chair and one member to serve as Vice Chair of the Oversight Committee. The Chair shall preside over committee meetings and act as spokesperson for the committee.
Annual Report: The Oversight Committee shall prepare and deliver quarterly meeting minutes as well as an annual report to the Board of Directors regarding project progress including an overall assessment of the projects, schedules, spending trends, cost projections and recommendations for budget changes for specific projects to ensure the purpose and promise of the Redmond School District Bond Measure 9-125 is fully realized.