The Temporary District Auditor has completed his management audit of the Santa Clara Valley Water District's Almaden Campus Solar Project. The purpose of this audit is to examine the costs and benefits of this project. This examination included a review of project documents, materials submitted to the Board, financial records and interviews with key staff. This examination was recommended by the District's Audit Ad Hoc Committee as part of the Board's pilot audit program. The Temporary District Auditor was directed to complete this examination by the Board of Directors in November 2009. The following report contains a summary of findings, followed by sections that provide an overview of the project and a summary of project costs. The report also includes 2 recommendations. The first recommendation is for the Board to codify budgetary controls it has implemented since the start of Fiscal Year 2007, but are not contained in its Governance Policies. The second recommendation calls for periodic review of the District's energy portfolio and evaluation of potential alternative energy projects. Because the factors driving cost and benefit of these projects [are] subject to rapid change, periodic review and consideration of projects will help to ensure that the District's management of its power costs is cost effective and environmentally responsible."