Oversight committee approves prior minutes, hears liaison/audit reports and notes vacancies and work-plan items

The Citizens' General Obligation Bond Oversight Committee opened with procedural business and approved the minutes of its Feb. 27, 2023 meeting by roll-call vote. A member moved to approve the minutes and Vice Chair Crawford, Member Gehen, Member Larkin, Chair Matthews, Member Pantoja and Member Sanderlin each voted 'Aye.'

During liaison reports, the chair and Member Larkin summarized status updates on older bond programs: the 2011 Road Repaving and Street Safety Bond is substantially complete and roughly 98.9% encumbered or spent, and the 2014 Transportation and Road Improvement Bond features projects in widely varying states of completion (for example, the Caltrain upgrade was described as about 95% expended while some accessibility improvements are roughly 10% expended). Member Larkin said he had checked with DPW and found no outstanding or potential construction claims on the 2011 program.

Natasha Michal, City Performance Director in the Comptroller’s Office, read updates from the CSA (audits) unit and City Performance. CSA audits reported no new public‑integrity issuances since February but identified two public-integrity related engagements with planned issuance in June (an audit of the city's landfill agreement and an SFPUC public integrity assessment). City Performance reported recent and upcoming reports including a city survey (results posted at sf.gov/citysurvey), a nonprofit wage and equity survey with follow-up recommendations to inform budgeting, and a street-standards report that complements park standards. The office said it is planning a five‑year homelessness work plan with an audit/assessment component focusing initially on temporary shelter.

Anna Vandegna, Public Finance Director, said the city closed financing on April 11 to fund affordable housing, seawall and health-and-recovery projects. She said there were no immediate upcoming financings but listed potential FY24 items: additional health-and-recovery financing, a potential issuance of the PASS (preservation and seismic-safety loan) program, and monitoring market rates for possible GO bond refunding.

Staff identified three vacancies on the Citizens' General Obligation Bond Oversight Committee (Seat 3 — Board of Supervisors appointee, community organization representative; Seat 5 — controller-appointed public finance or auditing expert; Seat 7 — mayoral appointee representing the business community). Committee members discussed term limits (two two-year terms) and requested improved liaison contact with program managers; staff agreed to circulate program manager contact information and propose a FY24 meeting calendar.

There were no formal votes beyond the minutes approval. The committee closed with the final public comment period and adjourned at 10:46 a.m.