Welcome to the State of California Department of Finance

Bond Accountability/Oversight and Audits

In accordance with bond oversight responsibilities, the Department of Finance, Office of State Audits and Evaluations (OSAE) performs bond audits.  The Governor’s Executive Order S-02-07 requires departments to be accountable for ensuring bond proceeds are spent efficiently, effectively, and in the best interests of the people of California.  Accordingly, the bond audit objectives include determining whether: 

  • Awards and expenditures are in compliance with applicable laws, regulations, and established criteria.
  • Bond funded projects are adequately monitored to ensure they stay within scope and cost.
  • Bond funded programs and projects achieved or are achieving the intended outcomes. 

As of June 2010, OSAE has performed over 400 department and grant-level bond audits of Proposition 12, 13, 40, and 50.  These same programs and departments are also receiving Proposition 1E and 84. OSAE is currently auditing several departments covering all Strategic Growth Plan bonds – Propositions 1B, 1D, 1E, and 84 (see Audits in Progress below).

For additional details including specific audit tasks performed during a bond audit, see Bond Audit Bulletins below.

 

Bond Audit Bulletins

Audits In Progress

  • Air Resources Board, Audit of Proposition 1B Bond Funds
  • California Community Colleges, Audit of Proposition 1D Bond Funds
  • Department of Conservation, Audit of Natural Resources Bonds
  • Department of Water Resources
  • State Water Resources Control Board

Natural Resources Bonds

Transportation Bonds - Proposition 1B

Education Bonds - Proposition 1D

Library Bonds - Proposition 14

OSAE Contacts and Other Information

If you have any questions or concerns, please contact our office:

Our office also accepts complaints regarding misuse of the bond funds. To report an incident, please fill out the Bond Accountability Complaint Form.