SAN FRANCISCO — California school district bonds are back in the spotlight after an audit found poor oversight of school construction bond money awarded by the state.

The audit focused on $7 billion of bond money handed out through the state administrator of school construction bond funds. It found that billions of dollars of bond proceeds spent on projects considered to have a high risk of misuse of funds went unchecked, according to the report by the state Department of Finance.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.