T h e E n d

Modernization – Lafayette Elementary School

Modernization – Luther Burbank Middle School

Modernization –Guadalupe Elementary

School

Modernization - Sheridan Elementary School

Sheridan E.S. Auditorium

Gymnasium – John O’Connell High School

New School – John O’Connell High School

Modernization – Aptos Middle School

Modernization – Galileo High School

Modernization – Presidio Middle School

New Classroom Building – Alice Fong Yu Elementary School

New Science Classroom Building – Lowell High School

New School - Dianne Feinstein Elementary School

SELECTED EXAMPLES OF PROJECTS COMPLETED WITH 1997 G.O. BOND FUNDS

CURRENT BUDGET REPORTSan Francisco Unified School District Facilities Program including 1997 Bond ExpendituresProject Life-to-Date through June 30, 2009

BUDGET EXPENDITURES

Revised Total Actual thru NewProjection All Sources Qtr 4 - FY08/09 Qtr 4 - FY08/09

Active ProjectsLafayette ES - Modernization 2,149,807 938,192 (7) 1,211,615 2,149,807 1,218,796 779,855 Sunnyside ES - Modernization 72,561 72,561 - 72,561 67,700 8,034 SUBTOTAL 2,222,368 1,010,753 1,211,615 2,222,368 1,286,496 787,889

Project Closeout for Projects in Construction After FY2004 (construction substantially complete)Sunnyside ES - Window Replacement 886,702$ 784,334$ (7) 102,368$ 886,702$ 886,702$ 6,905$ Guadalupe ES - Window Replacement 1,588,275 1,587,386 (7) 889 1,588,275 1,588,266 889 Multi-School Site Technology Installations 7,139,348 7,139,348 (7) - 7,139,348 7,139,348 - John O'Connell HS (Southeast Building) 3,033,169 3,030,390 (7) 2,778 3,033,169 3,033,169 - Dianne Feinstein ES - New Construction 17,931,351 8,582,262 (7) 9,349,089 (1)(2) 17,931,351 17,931,350 - Lowell HS - New Construction 15,475,462 4,890,681 (7) 10,584,781 (2)(3)(4) 15,475,462 15,475,462 - SUBTOTAL 46,054,307 26,014,402 20,039,905 46,054,307 46,054,297 7,795

Post-Audit Closed Projects (construction substantially completed by FY2004, project closeout between FY2004 and FY2007)Aptos Middle School 3,153,663 618,241 (7) 2,535,422 (1)(2)(3)(5)(6) 3,153,663 3,153,663 - William De Avila Elementary School 1,281,072 25,524 (7) 1,255,548 (1)(2)(5)(6) 1,281,072 1,281,072 - Hillcrest Elementary School 1,512,351 456,818 (7) 1,055,533 (1)(2)(3) 1,512,351 1,512,351 - Galileo High School 10,184,817 1,553,611 (7) 8,631,206 (1)(2)(5)(6) 10,184,817 10,184,817 - Sanchez Elementary School 1,669,462 125,978 (7) 1,543,484 (1)(2)(5) 1,669,462 1,669,462 -Luther Burbank Middle School 3,087,762 820,737 (7) 2,267,025 (1)(2)(3)(5) 3,087,762 3,087,761 - SUBTOTAL 20,889,127 3,600,909 17,288,218 20,889,127 20,889,126 -

Audit Results for Work Completed Through July 2005Allocated to Specific Sites 57,187,868 57,187,868 57,187,868 57,187,868 - Unallocated to Specific Sites 7,016,767 7,016,767 7,016,767 7,016,767 - SUBTOTAL 64,204,635 64,204,635 64,204,635 64,204,636 -

Program-Wide Services & CostsLegal Fees 4,596 4,596 4,596 4,596 - Accounting Assistance 283,887 283,887 283,887 269,417 (11,461) Arbitrage Reserve 150,000 150,000 150,000 - - Arbitrage Penalty 26,473 26,473 26,473 26,473 - Arbitrage Computation Fees 2,950 2,950 2,950 - - SUBTOTAL 467,906 467,906 467,906 300,486 (11,461)

Funds Not Yet Allocated - - -

TOTAL 133,838,343$ 95,298,605$ 38,539,738$ 133,838,343$ 132,735,041$ 784,223$

(1) 1990 School Facilities Safety Tax(2) Leroy Green SFP(3) Leroy Green LLP(4) 1994 School Facilities Improvement Bond(5) 1994 Building Improvement Fund(6) Developer Fees(7) Bond Interest Revenue $5,339,859

REVENUEALL FUND SOURCESFUND SOURCES

1997 Prop A Bonds

Other Revenue Sources

I:\97 Bond Accounting\09 Q4 - June 2009\97 Bond_ Active Projects_ 6-30-09.xls, Commission Rpt

CURRENT BUDGETS AND EXPENDITURE REPORT

San Francisco Unified School DistrictFacilities Modernization Program with SF City Bond:

1997 Bond ExpendituresOversight Committee Progress Chart Through 6/30/09

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D

Legend Site Acquisition Design & Bid Construction & Move in Project Closeout (construction substantially complete)

Active Projects:

Lafayette ES - ModernizationProjection Only the Design & Bid phase is completely funded by 1997 Prop A Bonds. Construction and Move-in budget is to be jointly funded by 1997 Prop A Bonds [ $938,192 ]Actual and other revenue sources. Construction is to be performed primarily in summer months. Spending from the Bond is expected to be completed by August 2010. [ $305,260 ]

Sunnyside ES - ModernizationProjection Only the Design & Bid phase is funded by 1997 Prop A Bonds. Construction and move-in budget is to be funded by other revenue sources. [ $72,561 ]

Actual [ $67,700 ]

Project Closeout for Projects in Construction After FY2004 (construction substantially complete)

Sunnyside ES - Window ReplacementProjection [ $784,334 ]

Actual [ $784,334 ]

Guadalupe ES - Window ReplacementProjection [ $1,587,386 ]

Actual [ $1,587,376 ]

Multi-School Site Technology Installations #Revised Projection [ $7,139,348 ] Project put on hold in January 2006

Actual See notes [ $7,139,348 ]

John O'Connell HS (Southeast Building)Revised Projection [ $3,030,390 ]

Actual [ $3,030,390 ]

Dianne Feinstein ES - New ConstructionRevised Projection [ $8,582,262 ] Design & Bid began in October 1997. The finalization of the

Actual [ $8,582,262 ] design documents did not start until April 2003.

Lowell HS - New ConstructionRevised Projection [ $4,890,681 ]

Actual [ $4,890,681 ]

Closed Projects:Post-Audit Closed Projects (construction substantially completed by FY2004, project closeout between FY2004 and FY2007)Actual Construction [ $3,600,909 ]

Audit Results for work completed through July 2005Allocated [ $57,187,868 ] Allocated to Specific Sites per Previous Audit and reported in July 2005

Unallocated [ $7,016,767 ] Unallocated to Specific Sites per Previous Audit and reported in July 20057,016,767

1,660,058

57,187,868

431,565

263,946 15,211,516

263,946 15,211,516

17,096,664834,687

2,807,572

2,807,572

203,206

17,096,664

203,206

834,687

Project costs prior to FY0506 were $431,565.

67,700

897,225

88,991

8,525

8,525

22,391

22,391

557,559 6,573,264

355,284321,571

72,561

1,794,524

88,991

797,712

797,712

19,229,068

(reflects commitments from all funding sources; amounts funded by 1997 Prop A Bonds shown in brackets )

267,127 6,432,131

1,580,539 7,736

1,580,529 7,736

I:\97 Bond Accounting\09 Q4 - June 2009\97 Bond_ Active Projects_ 6-30-09.xls, GANTT CHART

CURRENT ACTIVE PROJECT SCHEDULE

• Total Bond Proceeds: $89,958,746

• Total Interest Revenue: $ 5,339,859

• TOTAL REVENUE & PROCEEDS: $95,298,605

Current Summary

• Total Expenditures as of 6-30-2009: $94,493,382• Arbitrage Reserve Allocation: $ 150,000• Accounting & Consulting fees: $ 17,420• Remaining funds allocated to

active project - Lafayette ES Mod: $ 637,803• Unallocated Remaining Funds $ 0

$95,298,605

PROJECT SUMMARYAS OF JUNE 30, 2009

Dedication – Dianne Feinstein E. S.

1997 Proposition A EducationFacilities Bond Program

Project Close-out Report as ofJune 30, 2009

Table of Contents

• Project Summary as of June 30, 2009• Current Active Project Schedule• Current Budgets & Expenditure Report• Examples of Projects Completed with 1997 Bond Funds

Dianne Feinstein Elementary School

1997 PROPOSITION AEDUCATION FACILITIES BOND

CITIZENS’ G.O. BOND OVERSIGHT COMMITTEE

P R O J E C T C L O S E – O U T R E P O R T

S E P T E M B E R 1 0, 2 0 0 9

S A N F R A N C I S C O U N I F I E D S C H O O LD I S T R I C T

John O’Connell High School