• Bond Oversight Committee

     

    Centennial School District, Bond Oversight Committee – July 2020 School Improvements

    Committee Purpose:

    The Board of Education appointed Bond Oversight Committee has the charge to actively monitor the bond program as follows:

    • Ensure bond revenues are used only for purposes consistent with the voter-approved 2020 bond measure and consistent with state law
    • Serve as a conduit of information to the Board and community
    • Review bond program performance and financial audits
    • Ensure grant dollars from other sources such as the OSCIM state matching grant and dollars from the Oregon Energy Trust are incorporated successfully into the bond projects.

    Committee Report to Board Topic Areas:

    The committee will prepare and deliver meeting minutes as well as an annual in-person report to the Board. It is estimated that the committee will meet once a quarter initially.

    The report will include:

    -An overall assessment of the bond projects

    -Bond Promise Tracking and additional project reporting (such as grant dollars)

    -Key messages

    -A report regarding progress and completion of each individual project

    -An explanation of schedules

    -A review of spending trends and cost projections

    -Recommendation for any budget changes

    Committee Membership

    Members will be selected by the Board Officers and Superintendent for the three-year term.

    • Committee Chair
    • Committee Co-Chair
    • Board Liaison (chosen annually)
    • 4-6 committee members selected with consideration of the following:
      • Member of Centennial Community
      • Expertise and / or background in construction
      • Expertise in financial oversight

    Support for Committee:

    • CFO/COO
    • Superintendent / CCO (Chief Communications Officer)
    • Consulting group managing projects
    • Construction firms working on projects

    Timeline:

    •   Board Liaison brings proposed committee membership to Board for Approval in September.

    First Meeting to be held as soon as is reasonable.