Regular Meeting of the Audit and Finance Committee of the Peninsula Clean Energy Authority (PCEA)
Minutes
Monday, February 10, 2025
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 and in the Peninsula Clean Energy Authority lobby.
ROLL CALL
Participating:
Donna Colson, Burlingame, Chair
Carlos Romero, East Palo Alto
Leslie Ragsdale, Hillsborough
Absent: Tom McCune, Belmont
A quorum was established.
PUBLIC COMMENT
None
ACTION TO SET AGENDA
Public Comment: None
MOTION: Director Ragsdale moved, seconded by Director Colson to set the Agenda.
MOTION PASSED: 3-0 (Absent: Belmont)
JURISDICTION BOARD MEMBER YES NO ABSTAIN ABSENT
Belmont Director McCune X
Burlingame Director Colson X
East Palo Alto Director Romero X
Hillsborough Director Ragsdale X
Totals 3 1
ACTION TO APPROVE CONSENT AGENDA ITEMS
Public Comment: None
MOTION: Director Ragsdale moved, seconded by Director Colson to set the Agenda and approve Agenda Item Number 1.
1. Approval of the Minutes for the November 12, 2024 Meeting MOTION PASSED: 3-0 (Absent: Belmont)
JURISDICTION BOARD MEMBER YES NO ABSTAIN ABSENT
Belmont Director McCune X
Burlingame Director Colson X
East Palo Alto Director Romero X
Hillsborough Director Ragsdale X
Totals 3 1
REGULAR AGENDA
2. Chair Report
None
3. Staff Report
Nick Bijur, Chief Financial Officer, provided an update to the Committee on a few financial updates including an accounting RFP, an update to approved Peninsula Clean Energy rate changes, and an update on the staff Risk Oversight Committee.
4. Review of Peninsula Clean Energy's Cash Investment Performance and Market Overview (Discussion) Nick Bijur, Chief Financial Officer
Nick Bijur, Chief Financial Officer, introduced Monique Spyke, Managing Director, and Justin Resuello, Institutional Sales and Relationship Manager at PFM Asset Management. Monique and Justin gave the Audit and Finance Committee an update on Peninsula Clean Energy’s portfolio, finance strategy, and future market conditions.
Public Comment: None
5. Q2 Fiscal Year 2024-2025 Financial Report (Quarter Ending December 31, 2024) (Discussion)
Nick Bijur, gave a presentation on the second quarter Fiscal Year 2024-2025 Financial Report for quarter ending December 31, 2024.
Public Comment: None
6. Committee Members’ Reports
Director Ragsdale asked for clarification if the Turnkey Programs is up and running and if she could announce it at a Hillsborough Council meeting.
ADJOURNMENT
Meeting was adjourned at 9:54 a.m.