Special Meeting of the Audit and Finance Committee of the Peninsula Clean Energy Authority (PCEA)
Minutes
Monday, December 11, 2023
8:30 a.m.
Zoom Video Conference and Teleconference
CALL TO ORDER
Meeting was called to order at 8:36 a.m. in virtual teleconference, in the Peninsula Clean Energy Authority lobby.
ROLL CALL
Participating:
Carlos Romero, East Palo Alto
Leslie Ragsdale, Hillsborough
Jeff Aalfs, Portola Valley, arrived at 8:52 a.m.
Marty Medina, San Bruno
Absent: Donna Colson, Burlingame
A quorum was established.
PUBLIC COMMENT
Annie Tate
Carol Cross
Neela Patel
ACTION TO SET AGENDA AND TO APPROVE CONSENT AGENDA ITEMS MOTION: Director Medina moved, seconded by Director Ragsdale to set the Agenda and approve Agenda Item Number 1.
1. Approval of the 2024 Schedule of Meetings
MOTION PASSED: 3-0 (Absent: Burlingame, Portola Valley)
JURISDICTION BOARD MEMBER YES NO ABSTAIN ABSENT
Burlingame Director Colson X
East Palo Alto Director Romero X
Hillsborough Director Ragsdale X
Portola Valley Director Aalfs x
San Bruno Director Medina X
Totals 3 2
REGULAR AGENDA
2. Chair Report
None
3. Staff Report
Nick Bijur, Chief Financial Officer, provided an update to the Committee including an update on the investment management structure, and an update on the cost of service study, and an update on the Chief Financial Officer transition.
4. Quarter 1 – Fiscal year 2024 Financial Report (Quarter ending September 30, 2023) Nick Bijur, Chief Financial Officer, gave a presentation Director Medina asked about Nick’s perspective as the newcoming CFO. Nick explained that he has been impressed with the structures, controls, and processes, but has noticed restrictive controls for this size organization.
5. Committee Members’ Reports
None
ADJOURNMENT
Meeting was adjourned at 9:00 a.m.
Roll Call 8:36
RECORDING
WAITING ROOM
JURISDICTION BOARD MEMBER PRESENT ABSENT
Burlingame Director Colson X
East Palo Alto Director Romero X
Hillsborough Director Ragsdale X
Portola Valley Director Aalfs 8:52
San Bruno Director Medina X
Total 3 2