Napa Valley College has received a clean audit in its handling of Measure N bond funds passed more than a decade ago by county voters for college construction and upgrades.
The audit covers the spending of Measure N funds during the 2011-12 fiscal year. The funds from Measure N are expected to be fully spent within the next couple months, and one more audit will be issued in late spring or early summer.
Napa voters entrusted the local community college with $133.8 million by passing Measure N in 2002.
The funds helped complete several college construction projects, including remodeling the student services and administration buildings and renovating the life sciences building. Measure N also funded the construction of the Performing Arts Center and North Gym, as well as waterproofing work needed for both buildings two years later.
According to the audit report, major 2011-12 Measure N construction projects were “successfully completed,” and contracts for all of the work followed proper bidding procedures and were awarded in all cases to the lowest responsible bidder.
Interim college president Ron Kraft said he was “very pleased” with the results of the audit.
Most building projects that exceed $100 million encounter some financial errors, he said. The fact that the audit found no discrepancies is “pretty phenomenal,” Kraft said.
Most of the buildings on the Napa Valley College campus were built in the mid-1960s and had a half-century of use before Measure N allowed for new buildings and upgrades. The bond funds, Kraft said, helped to create “a state-of-the-art campus.”
“As a destination college, our facility now matches the rest of the valley’s reputation,” he said.
Also, an annual independent audit of the Napa Valley College’s regular finances for the 2011-12 fiscal year revealed some minor weaknesses in oversight, but college officials say they are pleased with the report overall.
State law dictates that community college districts submit to annual independent audits of all major funds and carry out all reported recommendations.
Napa Valley College received a mostly clean audit, but one area of criticism was noted.
In the 2011-12 academic year, Napa Valley College recorded the financial activity related to its Criminal Justice Training Program in a trust fund, rather than in the general fund.
In spite of this criticism, the audit revealed that Napa Valley College’s financial practices are generally sound.
Interim president Kraft said he was “very pleased” with the report.