Item No. 2
Regular Meeting of the Audit and Finance Committee of the Peninsula Clean Energy Authority (PCEA)
Minutes
Wednesday, October 12, 2022
8:30 a.m.
Zoom Video Conference and Teleconference
CALL TO ORDER
Meeting was called to order at 8:37 a.m. in virtual teleconference.
ROLL CALL
Participating Remotely:
Carlos Romero, East Palo Alto arrived at 9:03 a.m.
Laurence May, Hillsborough, Chair
Jeff Aalfs, Portola Valley
Marty Medina, San Bruno
John Keener, Director Emeritus
Absent: Donna Colson, Burlingame
Pradeep Gupta, Director Emeritus
A quorum was established.
PUBLIC COMMENT
None
ACTION TO SET AGENDA AND TO APPROVE CONSENT AGENDA ITEMS MOTION: Director Aalfs moved, seconded by Director Medina to set the Agenda and approve Agenda Item Numbers 1-2.
1. Adopt Findings Pursuant to AB 361 to Continue Fully Teleconferenced Committee Meetings Due to Health Risks Posed by In-Person Meetings
2. Approval of the Minutes for the August 15, 2022 Audit & Finance Committee Meeting MOTION PASSED: 3-0 (Absent: Burlingame, East Palo Alto)
JURISDICTION BOARD MEMBER YES NO ABSTAIN ABSENT
Burlingame Director Colson X
East Palo Alto Director Romero X
Hillsborough Director May X
Portola Valley Director Aalfs X
San Bruno Director Medina X
Item No. 2
Totals 3 2
REGULAR AGENDA
3. Chair Report
None
4. Staff Report
Kristina Cordero, Chief Financial Officer, provided an update to the Committee on the Fiscal Year 2021-2022 Financial Statements and the audit for Fiscal Year 2021-2022.
5. Recommend Board Approval of the Audited Financial Statements for Fiscal Year (FY) 2021-2022 (Action)
Brett Bradford, Audit Partner for Pisenti & Brinker, LLP, gave a presentation on the Fiscal Year 2021-2022 audited financial statements including results of the current year audit, risk assessment, and board communications.
Director Aalfs and Director Medina expressed their gratitude to staff for their hard work.
MOTION: Director Aalfs moved, seconded by Director Medina to recommend approval by the Board of Directors of the Audited Financial Statements for Fiscal Year 2021-2022.
MOTION PASSED: 3-0 (Absent: Burlingame, East Palo Alto)
JURISDICTION BOARD MEMBER YES NO ABSTAIN ABSENT
Burlingame Director Colson X
East Palo Alto Director Romero X
Hillsborough Director May X
Portola Valley Director Aalfs X
San Bruno Director Medina X
Totals 3 2
The meeting was paused at 8:53 a.m. to allow for information sharing between Pisenti & Brinker auditors and Audit and Finance Committee Members May and Aalfs. The meeting resumed at 9:11 a.m. with no reportable action.
6. Committee Members’ Reports
None
ADJOURNMENT
Meeting was adjourned at 9:13 a.m.