State Auditor critical of school bond practices

Liv Finne has a post on the WPC blog about the State Auditor's latest performance audit. Here is an excerpt: "On August 24, 2009, the state auditor issued its performance audit report examining school district practices for selling bonds to finance school building and other projects. The audit found that: 'Had school districts been following best practices on bond issues published by the Government Finance Officers Association, they would have saved $44 million to $79 million between 2003 and 2007.' The auditor recommends that the Superintendent of Public Instruction would be in the best position to facilitate guidance and training related to bond issues by bringing together school districts, educational service districts and staff from the Office of the Treasurer to improve guidance and develop training. Perhaps a better idea would be to centralize this function in the Treasurer's office" . . . READ MORE