Bond Oversight Committee Historical Perspective

Bond Oversight Committee Historical Perspective

History of the Independent Citizens’ Bond Oversight Committee

The Proposition G Independent Citizens’ Bond Oversight Committee (ICBOC) was formed in 2006, following the passage of Proposition G (Prop G) in the June 2006 election. Prop G, a $247 million general obligation bond measure, was approved by East County voters by more than 77 percent, well above the two-thirds required. As a representative for taxpayers, creation of the ICBOC was included in the Prop G ballot measure. There was no organized opposition and no ballot argument against the ballot measure filed with the Registrar of Voters. Included in the ballot measure were specific infrastructure projects at Sharp Grossmont Hospital, as identified in the hospital’s facilities master site plan.

ICBOC members are uncompensated East County residents who are charged with monitoring the expenditure of bond proceeds for the bond-financed construction at Grossmont Hospital in La Mesa. The volunteers oversee how the publicly elected Grossmont Healthcare District (GHD) board of directors are spending the dollars. The ICBOC committee ensures that taxpayer dollars on infrastructure construction are spent effectively and efficiently, and to inform taxpayers.

The ICBOC was seated and started regular meetings in late 2006, which was several months in advance of the first bond issuance in August 2007 and the start of construction more than a year later. This provided the committee a significant orientation time frame – in advance of monitoring bond sale and construction processes – to appropriately discuss and learn about the nature and responsibilities of oversight committees, the bond engagement and sale process and the hospital construction process.

Specific seats on the ICBOC are filled by individuals representing various constituency groups and business sectors, such as project management, large-scale construction operations, finance, San Diego County Taxpayers Association, San Diego County Labor Council and Sharp Grossmont Hospital.

The role of ICBOC members is not to rubber-stamp, endorse or be a cheerleader for the decisions of GHD, its board, the hospital or Sharp HealthCare, which manages the hospital operations. Nor is their job to micromanage and dictate construction direction. Rather, the committee’s function is to understand the processes and structure that will be used during construction and provide conscientious and diligent oversight to the benefit of taxpayers. The committee is not involved in project management, only oversight. The ICBOC’s promise to all East County residents is to operate in an open and transparent manner so that all District taxpayers can be fully informed with detailed accounting and monitoring of the Prop. G activities.