Executive Committee Meeting
Wednesday, July 1, 2026
3:00 pm
In Person:
Altamont Conference Room
Ava Community Energy
1999 Harrison St, Suite 2300
Oakland, CA 94612
Or from the following locations:
• 24301 Southland Drive, Suite 101, Hayward, CA 94545
• Hayward City Hall - 777 B St, Hayward, CA 94541
• 501 W Weber Ave Building 1, Stockton, CA 95203
• Balch Enterprises, Inc. - 30960 Huntwood Avenue, Hayward, CA 94544 • Larch Clover Community Center – 11157 West Larch Road, Tracy, CA 95376 Via Zoom:
https://avaenergy-org.zoom.us/j/88267670367
Or join by phone:
Dial(for higher quality, dial a number based on your current location):
US: +1 669 900 6833 or +1 253 215 8782 or +1 346 248 7799 or +1 301 715 8592 or +1 312 626 6799 or 877 853 5257 (Toll Free) or 888 475 4499 (Toll Free) Webinar ID: 882 676 70367
Meetings are accessible to people with disabilities. Individuals who need special assistance or a disability-related modification or accommodation to participate in this meeting, or who have a disability and wish to request an alternative format for the meeting materials, should contact the Clerk of the Board at least 2 working days before the meeting at (510) 906- 0491 or [email protected].
If you have anything that you wish to be distributed to the Executive Committee, please email it to the clerk by 5:00 pm the day prior to the meeting.
Public comment letters received for Ava Community Energy meetings are posted at https://app.box.com/v/avapubliccomment.
1. Welcome & Roll Call
2. Public Comment
Ava Community Energy
Executive Committee Page | 2
This item is reserved for persons wishing to address the Executive Committee on any Ava Community Energy-related matters that are not otherwise on this meeting agenda. Public comments on matters listed on the agenda shall be heard at the time the matter is called.
As with all public comment, members of the public who wish to address the Committee are customarily limited to three minutes per speaker and must complete an electronic speaker slip. The Executive Committee Chair may increase or decrease the time allotted to each speaker.
3. Approval of Minutes from June 3, 2026
4. Review of IRP Process (Informational Item)
Overview of compliance filing and what the board will be asked to approve in the July 15, 2026 Board meeting
5. Fiscal Year Annual Audit Process Overview (Informational Item) Preview the details of the upcoming annual audit
6. Closed Session Public Comment
7. Closed Session
a. PUBLIC EMPLOYEE PERFORMANCE EVALUATION Pursuant to Government Code Section 54957. Title: Chief Executive Officer
b. CONFERENCE WITH LABOR NEGOTIATORS Pursuant to Government Code Section 54957.6. Agency Representatives: Inder Khalsa, Jonathan Tedesco, Betsy Andersen, and Juan González. Unrepresented employee: Chief Executive Officer.
8. Report Out of Closed Session
9. Committee Member and Staff Announcements including requests to place items on future Executive Committee Agendas
10.Adjourn
The next Executive Committee meeting will be held on Wednesday, September 2, 2026 at 3:00 pm.
Board Meeting Access Instructions
If you need help finding or accessing the building, please call our Ava representative who is stationed in the building lobby: 510-393-0492.
Directions
Directions via BART
If you are taking BART: the 19th Street station is the closest stop to our office and is about a 5 minute walk away. Use the 20th St / Thomas L. Berkeley Way station exit.
Directions via Bike
Bike riders wanting to park their bike inside the parking garage can enter through the main building lobby. Bike parking is available on the parking garage first level right in front of the garage elevators.
Directions to Parking Garage via Car
The entrance to the building’s attached garage is located on Harrison Street. If you’re driving northbound on Harrison Street, as soon as you cross 19th St. the garage entrance is 3/4 down on your left-hand side. If you’re heading east on Thomas L Berkeley Way/20th St.
Continue East then make a right turn on Harrison
Street, and the garage entrance is a quarter block up
on your right-hand side.
When you arrive, enter via the gate labeled “Public
Parkers”. There are four floors of the parking garage,
and you will need to take the elevator in the parking
garage to the first floor. The parking attendant or
an Ava representative will provide access into the
building lobby.
The parking garage entry gate will be open until 8pm
for CAC and BOD meetings. Attendees can exit the
parking garage until 11pm.
Note that the garage’s parking fee is $30 per use.
Street parking is widely available near the building
and free after 6pm.
Check-in at Security Desk
When you arrive at our building, please check in with the security desk in the lobby to get access to the elevators.
If you have questions or need assistance, an Ava representative will be stationed and identifiable in the lobby. They can be reached at: 510-393-0492.
Public Parkers entrance
1999 Harrison Street, Suite 2300, Oakland, CA 94612
Draft Minutes
Executive Committee Meeting
Wednesday, June 3, 2026
3:00 pm
In Person:
Altamont Conference Room
Ava Community Energy
1999 Harrison St, Suite 2300
Oakland, CA 94612
Or from the following locations:
• Hayward City Hall - 777 B Street, Hayward, CA 94541
• Balch Enterprises, Inc. - 30960 Huntwood Avenue, Hayward, CA 94544 • Larch Clover Community Center – 11157 West Larch Road, Tracy, CA 95376 Via Zoom:
https://avaenergy-org.zoom.us/j/88267670367
Or join by phone:
Dial(for higher quality, dial a number based on your current location):
US: +1 669 900 6833 or +1 253 215 8782 or +1 346 248 7799 or +1 301 715 8592 or +1 312 626 6799 or 877 853 5257 (Toll Free) or 888 475 4499 (Toll Free) Webinar ID: 882 676 70367
Meetings are accessible to people with disabilities. Individuals who need special assistance or a disability-related modification or accommodation to participate in this meeting, or who have a disability and wish to request an alternative format for the meeting materials, should contact the Clerk of the Board at least 2 working days before the meeting at (510) 906- 0491 or [email protected].
If you have anything that you wish to be distributed to the Executive Committee, please email it to the clerk by 5:00 pm the day prior to the meeting.
1. (4:00) Welcome & Roll Call
Present: Members: Balch (Pleasanton), Andersen (Piedmont), Rickman (San Joaquin County), Vice-Chair Roche (Hayward) and Chair González (San Leandro) Not Present: Members: Marquez (Alameda County) and Fugazi (Stockton)
2. (6:23) Public Comment
Ava Community Energy
Executive Committee Page | 2
This item is reserved for persons wishing to address the Executive Committee on any Ava Community Energy-related matters that are not otherwise on this meeting agenda. Public comments on matters listed on the agenda shall be heard at the time the matter is called.
As with all public comment, members of the public who wish to address the Committee are customarily limited to three minutes per speaker and must complete an electronic speaker slip. The Executive Committee Chair may increase or decrease the time allotted to each speaker.
There were no speakers for public comment.
3. (7:47) Approval of Minutes from April 1, 2026 and May 6, 2026 Member Andersen motioned to approve the April 1, 2026 and May 6, 2026 minutes.
Chair González seconded the motion, which was approved 5/0/0/0/2 (yes/no/abstain/recuse/not present)
Yes: Members: Balch, Andersen, Rickman, Vice-Chair Roche and Chair González No: none
Abstain: none
Recuse: none
Not Present: Members Marquez and Fugazi
4. (9:23) Prepay Financings (Informational Item)
Overview of 2026 Prepay Financing Plans
Russell Mills, CFO, presented the Prepay Financings item and answered questions from the Executive Committee.
(23:03) Public Comment – Jim Lutz asked a series of questions: what percentage of Ava's procurement is tied to prepay transactions; how large the discounts are as a percentage; how much interest is paid relative to actual capital within these contracts; and whether there is any ability to exit a transaction at a refinancing date if risks are deemed too high.
5. (48:29) Fiscal Year 2026-2027 Draft Budget (Informational Item) Review the draft budget for the next fiscal year for comment Howard Chang, CEO, presented the Fiscal Year 2026-2027 Draft Budget item and answered questions from the Executive Committee.
(1:02:54) Avi Wong
(1:04:46) Jenna Rafia-Yuan
(1:06:54) Alice Sung
(1:09:08) Daniel Franco
(1:10:38) Jessica Tovar
(1:12:56) Melissa Yu
Public Comment – Avi Wong, Jenna Rafia-Yuan, Alice Sung, Daniel Franco, Jessica Tovar, and Melissa Yu urged Ava to restore funding for the Local Development Fund and expressed concern regarding the proposed zero-dollar allocation to the Local Ava Community Energy
Executive Committee Page | 3
Development Fund. Speakers described local development as a core component of Ava's mission and governing documents, and encouraged the agency to pursue additional funding opportunities, clean energy investments, resilience projects, and community-focused programs through the fund.
6. (1:29:47) Closed Session Public Comment
There were no speakers for Closed Session Public Comment.
7. (1:30:02) Closed Session
a) PUBLIC EMPLOYEE PERFORMANCE EVALUATION Pursuant to Government Code Section 54957. Title: Chief Executive Officer
b) CONFERENCE WITH LABOR NEGOTIATORS Pursuant to Government Code Section 54957.6. Agency Representatives: Inder Khalsa, Jonathan Tedesco, Betsy Andersen, and Juan González. Unrepresented employee: Chief Executive Officer.
8. (2:26:26) Report Out of Closed Session
There were no items to report out of closed session.
9. (2:27:22) Introduction to Asset Ownership (Informational Item) Introduction to wholesale/utility scale asset ownership Marie Fontenot, Senior Vice President of Power Resources, presented the Introduction to Asset Ownership item and answered questions from the Executive Committee.
(2:53:31) Public Comment – Bradley Cleveland spoke in support of Ava's exploration of asset ownership, stating that agency-owned assets could advance local development goals, workforce development, local hiring, and support for local businesses. (2:55:39) Public Comment – Jim Lutz also spoke in support of Ava's exploration of asset ownership and asked about the feasibility of smaller front-of-the-meter projects as potential pilot or learning opportunities.
10.(3:08:55) Committee Member and Staff Announcements including requests to place items on future Executive Committee Agendas
No requests or announcements were made by Executive Committee members or staff.
11.(3:09:19) Adjourn
The meeting was adjourned at 6:06 pm.
Ava Community Energy
Executive Committee Page | 4
The next Executive Committee meeting will be held on Wednesday, July 1, 2026 at 3:00 pm.
Integrated Resource
Planning - 2026
Marie Fontenot | July 1, 2026
Agenda
2 • Introduction & Overview • Required Materials • Timeline & Process • Description of Modeling • Compliance Requirements • Next Steps & Conclusion • Appendix ▪ Description of Model Assumptions ▪ Overview of Preliminary Results Overview of Integrated Resource Planning (IRP)
• Staff have reviewed the details of the current Integrated Resource Planning (IRP) process and analysis in 2026 at the January and May Board and CAC meetings ▪ This presentation is intended to refresh details on the IRP process and provide an update leading into the July board IRP approval
• The California Public Utility Commission's (CPUC) IRP program is a long-term planning process to ensure enough generation capacity is built to:
▪ Reliability meet customer demand
▪ Meet greenhouse gas reduction targets
• CPUC staff use capacity expansion modeling to determine the optimal mix of resources needed to meet requirements 1 and 2
• To inform their modeling, the CPUC requires Load Serving Entities (LSEs) to submit our own IRP portfolios identifying least-cost, GHG-compliant resource mix to meet our customer demand • Ava's IRP Portfolio submission is both a compliance requirement and an opportunity to express our procurement preferences
3 Submission of Ava's IRP
4 • On a schedule defined by the CPUC, Ava is required to submit an IRP that meets CPUC-determined reliability and decarbonization metrics ▪ Previous IRPs: 2018,2020, 2022.
▪ 2024 IRP delayed; functionally evolved into 2026 IRP. Due August 10. • Specifically, Ava must submit:
▪ Resource Data Template (RDT): Summary of current and planned procurement ▪ Clean System Power (CSP) Calculator: Evaluation of portfolio emissions ▪ Narrative Template (NT): Description of portfolio and modeling process • GenX modeling informs, but does not directly translate into, these deliverables • Per CA statute, Ava must submit its IRP Plan to its governing board for approval • Ava will complete additional IRP modeling utilizing different market assumptions, constraints, and modeling parameters purely for internal analysis following this exercise The Filing – Required Materials & Examples
5 Narrative Template (NT)
▪ Executive Summary
▪ Study Design
▪ Study Results
▪ Action Plan
▪ Lessons Learned
▪ Note: each section
has required, defined
subsections
▪ Ava’s 2022 IRP
Narrative Template:
https://res.cloudinary.com/diactiwk7/im
age/upload/v1667342459/2022_IRP_EB
CE_LSE_Plan_xj6yzo.pdf
Resource Data Template
(RDT)
▪ Excel workbook; many, many
tabs
▪ Contract list w/ details
▪ Confirm contracts /
resources are assumed to
have “right’ capacity factors
based on when they come
online & other details
▪ Summarize capacity value of
resource
▪ Summarize types of
resources in portfolio
▪ Ava’s 2022 IRP RDT for 25
MMT portfolio:
https://cdn.sanity.io/files/pc49kbjr/produ
ction/b06053ae09b11af066a291fa70d00d
9653186e0b.xlsm
Above links as well as Ava’s 2018, 2020, 2022 IRPs can be found online at: https://avaenergy.org/about-ava/key-documents/integrated-resource-plan/ Clean System Power
Calculator (CSP)
▪ Tool to estimate GHG &
criteria pollutant emissions
in portfolios
▪ Requirement to use this tool
& method for emission
accounting in IRP filing
▪ Only relevant to forecasting
emissions, not calculating
actual emissions
▪ Excel workbook; many, many
tabs
▪ Ava’s 2022 IRP CSP for 25
MMT portfolio:
https://drive.google.com/file/d/1Dib2bFk5
wLpibytxlLyxFxSjLM4Kr2qp/view?usp=sha
re_link
Timeline & Process
6 Date Event
February 10, 2026 Final IRP modeling & filing requirements provided by CPUC March 10, 2026 IRP filing deadline of Aug 10 was set by CPUC April – May, 2026 Preliminary GenX modeling
May – July, 2026 Final GenX modeling & document preparation July 15, 2026 Ava Board July meeting seeking board approval July 16 – Aug 5,
2026
Final updates & edits to formal submissions
Aug 5-10, 2026 Regulatory team works with outside counsel on redactions and final submission
August 10, 2026 IRP filing deadline to CPUC
September 16,
2026
Officially filed IRP materials will be added to the Consent agenda in Board meeting and later posted on Ava website
IRP Modeling
7 • GenX model
▪ Open-source tool to support investment planning
▪ Developed by the MIT Energy Initiative and Princeton University’s Zero-carbon Energy systems Research and Optimization (ZERO) Lab1
▪ A least-cost optimization model, acts as central planner to determine cost-optimal generation portfolio, energy storage, and transmission investment needed to meet defined system demand while adhering to various grid constraints and market design constraints ▪ Contains thousands of lines of data, each “successful” model runs takes ~3-4 hours • Need for compliance between GenX and filing materials… ▪ Calculations are slightly different btw GenX and the CSP calculator. “Translation” is tricky. ▪ GenX could appear compliant with CPUC requirements, then calculation in CSP could demonstrate different emissions or RDT calculation could demonstrate an RA-lack of compliance. Results in need for re-runs and corrections. ▪ Materials that Ava Board approves in July may require slight revision to align different modeling calculations, to accurately represent the GenX modeled portfolio in required CPUC templates, and to remove “errors” in cells.
1 https://energy.mit.edu/genx/
IRP Approval & Compliance
8 Ava must submit its IRP Plan to its governing board for approval and provide its IRP Plan to the CPUC for certification per Public Utilities Code Section 454.52(b)(3) Ava’s IRP Plan must meet Reliability and Renewable Procurement Requirements with a diverse resource mix, avoid energy shortfalls, minimize ratepayer costs, minimize GHG and local air pollutants
Required Areas Where / how it appears
Economic, reliability, security &
other benefits
• NT, RDT, CSP describe RPS content, forecast annual
emissions; estimate portfolio costs under different market conditions
Diverse resource portfolio
• Compliance portfolio will include short- & long-term
procurement; variety of generation resources (not all
solar!)
• NT describes Ava’s customer programs (e.g. Resilient
Home and VPP products)
Resource adequacy requirements • NT, RDT will describe how portfolio satisfies near-term and forecasted long-term RA requirements
Next Steps
9 Now
• Model “clean ups”
• Complete full drafts of NT, RDT, CSP
7/16/26
• Ava Board approves compliance materials
Ongoing
• Ava staff available to provide 1:1 Q&A or Ad Hoc review of filing to Board members
8/10/26
• Compliance submission to CPUC
9/16/26
• Final, compliance materials on Ava Board Consent Agenda Later
2026
• Staff present supplemental Ava analysis
Conclusion
• This presentation is intended to refresh details on the IRP process and provide an update leading into the July board IRP approval
• In light of a tight timeframe to finalize GenX modeling and the IRP submission documents, staff is seeking any clarifying questions or requests regarding the upcoming approval process with the board
10 Appendix – Model Assumptions & Preliminary GenX
Results
11 CPUC Requirements
12 Required Inputs
• Load forecast & GHG benchmark for each LSE
• CAISO zonal topology
• Resource regions align with CAISO study areas
• Rules on candidate resources; i.e. x much natural gas for whole system, x much geothermal, x much in-state wind, x much out-of-state wind, etc) ▪ Includes rules for different resource capacity factors ▪ Resource cost assumptions
▪ Restrictions on how much of a resource type can be developed in different areas
▪ Resource generation profiles
• Planning reserve margin and resource capacity factors (effective load carrying capability ELCC)
• 2024 dollar year
CPUC Candidate Resources (2030)
13 Resource
Levelized Cost
of Energy
($/MWh)
Levelized Fixed
Cost (2024 $/MW-yr)
Geothermal_-_CA $97.13 $680.70
NF_EGS_-_NV_to_SCE_-
_Control $142.34 $997.48
NF_EGS_-_NV_to_SCE_-
_Eldorado $138.40 $969.88
NF_EGS_-_OR_to_PGE_-_Malin $134.77 $944.48
Onshore_Wind_-
_NE_CA_to_PGE_-_Malin $102.76 $234.42
Onshore_Wind_-_NM_to_SCE_-
_Lugo_-_Tranche_5 $77.52 $255.56
Onshore_Wind_-_NM_to_SCE_-
_Palo_Verde_-_Tranche_1 $69.64 $229.59
Onshore_Wind_-_NM_to_SCE_-
_Palo_Verde_-_Tranche_2 $79.65 $262.58
Onshore_Wind_-_NM_to_SCE_-
_Palo_Verde_-_Tranche_3 $84.37 $278.15
Onshore_Wind_-_NM_to_SCE_-
_Palo_Verde_-_Tranche_4 $87.77 $289.36
Resource
Levelized Cost
of Energy
($/MWh)
Levelized Fixed
Cost (2024 $/MW-yr)
Onshore_Wind_-_WY_to_PGE_-
_Tesla_-_Tranche_1 $102.93 $360.70
Onshore_Wind_-_WY_to_PGE_-
_Tesla_-_Tranche_2 $102.93 $360.70
PGE_Fresno_Solar $51.89 $139.03
PGE_GBA_Solar $52.01 $139.03
PGE_GBA_Wind $68.99 $174.16
PGE_Kern_Solar $49.49 $139.03
PGE_Kern_Wind $68.99 $174.16
PGE_NGBA_Solar $52.56 $139.03
PGE_NGBA_Wind $76.35 $174.16
SCE_Arizona_Solar $42.71 $119.84
CPUC Candidate Resources (2030)
14 Resource
Levelized Cost
of Energy
($/MWh)
Levelized Fixed
Cost (2024 $/MW-yr)
SCE_Eastern_Solar $47.60 $139.03
SCE_Eastern_Wind $61.87 $174.16
SCE_EOP_Wind $59.78 $159.44
SCE_Metro_Solar $49.58 $139.03
SCE_NOL_Solar $45.56 $139.03
SCE_NOL_Wind $79.28 $174.16
SCE_Northern_Solar $45.91 $139.03
SCE_Northern_Wind $79.28 $174.16
SDGE_Arizona_Solar $42.71 $119.84
SDGE_Baja_California_Wind $61.87 $174.16
LDES_-_Generic_100-hr
$3,166.62 $569.99
Resource
Levelized Cost
of Energy
($/MWh)
Levelized Fixed
Cost (2024 $/MW-yr)
SDGE_Imperial_Solar $49.79 $139.03
SDGE_Imperial_Wind $61.87 $174.16
Li-ion_Battery_4-hr_-_CA $121.36 $135.54
Li-ion_Battery_8-hr_-_CA $101.47 $226.66
Gas_CCGT $55.95 $184.22
Gas_CT_-_Frame $234.90 $173.72
Reciprocating_Engine $421.40 $341.34
Morro_Bay_Offshore_Wind $338.64 $1,377.01
Humboldt_Bay_Offshore_Wi
nd $319.32 $1,377.01
LDES_-_Generic_12-hr $192.28 $403.79
LDES_-_Generic_24-hr
$350.36 $504.52
Strategy Assumptions
15 Category Constraint
Maximum Available Capacity 0MW in 2026, No limit beyond 2028 Maximum Market Purchase 1000MW per hour
Maximum Market Sale 1000MW per hour
Maximum Out of State Wind Available
Capacity
N/A (New Mexico Wind starts in 2028, Wyoming
Wind starts in 2030)
PCIA Hedging Strategy Incorporated
Minimum Annual Available Capacity 70MW mandated Geothermal/Long-Duration Storage by 2032
Market Buy-Sell Spread $1 per MWh
Maximum In-State Wind Available Capacity 250MW per year until 2030, 1000MW per year between 2031-2035
Production Tax Credit & Investment Tax Credit PTC is available in 2026-2030; ITC is incorporated in the levelized fixed cost (From TPP)
REC Requirements
16 Year
State-level RPS
Requirements
(%)
Ava Internal Clean Energy Requirements GHG
Emissions
Benchmark
(MMT)
Ava VAMO
Allocation (%)
Ava Nuclear
Allocation
(%)
Total (%)
2026 49.2% 17.96% 5.43% 76.6% 1.106
2028 54.6% 13.84% 4.27% 90.0% 1.106
2030 60.0% 11.84% 1.37% 100.0% 1.106
2035 60.0% 6.49% 0% 100.0% 0.917
2040 60.0% 0.70% 0% 100.0% 0.767
2045 60.0% 0.46% 0% 100.0% 0.391
REC Requirements
17 Updated Market Prices
18 Average DLAP prices from Ava Internal modeling vs. Aurora Price Forecast Curves Updated GenX Model Results
19 Cumulative Capacity Results - “cQuant Mean”
20 Cumulative Capacity Results - “Central”
21 Cumulative Capacity Results - “Messy Transition”
22 Cumulative Capacity Results - “High Scenario”
23 Conforming Portfolio for CPUC - “Central”
24 Additional Elements of Compliance Filing
25 • Estimated cost & revenues of portfolio
• Estimation of Ava’s compliance portfolio emissions and portfolio contribution to state-wide emissions
• Estimation of annual generation from Ava’s compliance portfolio and value/ability of portfolio to contribute to hedging
• Portfolio contribution to system reliability
• CAISO market exposure associated with the portfolio
• Ability of portfolio to meet RPS compliance obligations
Fiscal Year 2025-2026
Annual Audit Process
Preview
July 1, 2026
Ava Financial Audit Process
2 • Ava’s annual financial audit starts at the end of each fiscal year and is typically completed within 180 days (December 27th), as per contractual obligations with certain energy counterparties and the credit facility, currently held with PNC Bank. The financial audit confirms the financial accuracy of Ava’s financial statements and accounting processes by reviewing transactions, controls, processes, contractual agreement compliance, and other relevant aspects in a manner according to the Generally Accepting Accounting Principles (GAAP) methodology. • An ad-hoc committee is formed from current Board members to confer with the auditor independent of staff involvement to ensure adequate controls and diligence. • The results of the audit will be presented to the Board as an informational item by the auditor. Staff is currently targeting the November meeting for presentation, ahead of deadline.
Based on the final results of the audit, information regarding actuals to budget and the revenue surplus will also be presented by staff.
Audit Timeline & Expected Deliverables
3 Expected Deliverables at November Board Meeting
• Final Audited Financial Statements with notes and transmission letter • Budget to Actuals for Fiscal Year 2025-2026
• Net Revenue Allocations
• State of Reserves & Rate Stabilization Fund
6/30/2026 9/7/2026 9/14/2026 9/21/2026 9/28/2026 10/5/2026 10/12/2026 10/19/2026 10/26/2026 11/2/2026 7/6/2026 9/11/2026 9/18/2026 9/25/2026 10/2/2026 10/9/2026 10/16/2026 10/23/2026 10/30/2026 11/6/2026 Transition of Fiscal Year
Audit Kickoff 7/20/2026
Delivery of Key Documents
Delivery of Trial Balances
Testing & Review
Bank Confirmations Issue Return
Legal Confirmations Issue Return
Draft Financial Statements Deliver Review Review
Audit Documents Draft
Opinion
Staff Review Auditor
Review Final Opinion Finalize BOD Items
Delivery to
CPs
Ad-Hoc Committee TBD TBD
FAP/Board Meetings 10/21/2026 10/28/2026 11/18/2026
Completed Current Behind
On track/Scheduled Delayed/Deferred/Unscheduled
July August November