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Measure Y is a game-changer for Citrus College

Voters in the Citrus Community College District approved Measure Y, a $298 million general obligation bond, during the Nov. 3, 2020, general election. The Los Angeles County Registrar?Recorder/County Clerk’s election canvass period has concluded and Measure Y—the Citrus College Career Education, Repair, Affordable Higher Education Measure – passed with 57.67 percent of the votes. “I am delighted by the community’s support for Citrus College, and I thank the thousands of residents and volunteers who supported Measure Y,” said Dr. Geraldine M. Perri, superintendent/president of Citrus College.

“The college community is thrilled at the prospect of what lies ahead for our future students.” Measure Y will help the college retain well?qualified teachers and improve the quality of education bupgrading job training, science and technology classrooms; meeting earthquake and fire safety standards; and continuing to provide clean drinking water in buildings.

Facilities improvements were identified following an 18?month process where college stakeholders, along with a team of external consultants, assessed the facilities needs of the college. This resulted in a culmination of recommendations identified in the college’s 2020?2030 Educational and Facilities Master Plan.

“Current and future students at Citrus College will benefit tremendously from the improvements made possible through Measure Y,” said Claudette E. Dain, vice president of finance and administrativ services at Citrus College. “We will be able to expand the college’s training partnerships with local employers, which will help create local jobs and boost our regional economy.”

Measure Y includes strict fiscal safeguards, including citizen oversight, public disclosure of all spending, and annual financial and performance audits. No money from Measure Y will be spent on administrators’ salaries or pensions, and all funds will be spent by the college and cannot be taken bythe county, state or federal government.

Citrus College’s long history of fiscal responsibility and sound business practices have already led to a reaffirmation of its AA bond rating from Standard & Poor’s (S&P) for Measure G, the $121 million general obligation bond measure, which was supported by voters in March 2004. S&P noted that the college is well?equipped to navigate the nation’s current pandemic and its resulting economic environment.

Additionally, Moody’s Investors Service upgraded the district’s credit rating from Aa2 to Aa1 in July 2020—the second highest level possible. This move further signifies that Citrus College is financially sound and has adequate revenues and cash reserves to pay off its debts. “The community’s long?standing support of the college’s mission, vision and values will continue to make a difference for future generations of students,” said Dr. Patricia A. Rasmussen, president of the Citrus Community College District Board of Trustees. “The success of Measure Y will ensure that students have access to an affordable, high?quality education.”

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