Regular Meeting of the Audit and Finance Committee of the Peninsula Clean Energy Authority (PCEA)
Minutes
Monday, June 9, 2025
8:30 a.m.
Zoom Video Conference and Teleconference
CALL TO ORDER
Meeting was called to order at 8:34 a.m. in virtual teleconference, in the Peninsula Clean Energy Authority lobby, and is Los Banos City Hall Conference Room B.
ROLL CALL
Participating:
Tom McCune, Belmont
Donna Colson, Burlingame, Chair
Carlos Romero, East Palo Alto
Michale Amabile, Los Banos, participating from Los Banos Elmer Martinez Saballos, Redwood City, arrived at 8:42 a.m.
Absent:
A quorum was established.
PUBLIC COMMENT: None
ACTION TO SET AGENDA AND TO APPROVE CONSENT AGENDA ITEMS Public Comment: None
MOTION: Director Colson moved, seconded by Director McCune to set the Agenda and approve Agenda Item Number 1.
1. Approval of the Minutes for the May 12, 2025 Executive Committee Meeting.
MOTION PASSED: 4-0 (Absent: Redwood City)
JURISDICTION BOARD MEMBER YES NO ABSTAIN ABSENT
Belmont Director McCune X
Burlingame Director Colson X
East Palo Alto Director Romero X
Los Banos Director Amabile X
Redwood City Elmer Martinez-Saballos X
Totals 4 1
REGULAR AGENDA
2. Chair Report
None
3. Staff Report
None
4. Appointment of Audit and Finance Committee Chair (Action) Public Comment: None
MOTION: Director Colson moved, seconded by Director McCune to nominate Carlos Romero as the Audit and Finance Committee Chair.
MOTION PASSED: 4-0 (Absent: Redwood City)
JURISDICTION BOARD MEMBER YES NO ABSTAIN ABSENT
Belmont Director McCune X
Burlingame Director Colson X
East Palo Alto Director Romero X
Los Banos Director Amabile X
Redwood City Director Martinez Saballos X
Totals 4 1
5. Recommend to the Board of Directors Approval of the Fiscal Year 2025-2026 Budget (Action) Nick Bijur, Chief Financial Officer provided an overview of the Fiscal Year 2025-2026 budget.
Public Comment: None
MOTION: Director Amabile moved, seconded by Director McCune to Recommend approval by the Board of Directors of the Fiscal Year 2025-2026 budget (July 1, 2025 through June 30, 2026).
MOTION PASSED: 5-0 (Absent: None)
JURISDICTION BOARD MEMBER YES NO ABSTAIN ABSENT
Belmont Director McCune X
Burlingame Director Colson X
East Palo Alto Director Romero X
Los Banos Director Amabile X
Redwood City Director Martinez Saballos X
Totals 5
6. Discussion of Rate Stabilization Fund (Discussion)
Nick Bijur, Chief Financial Officer provided an overview of the Rate Stabilization Fund.
Public Comment: None
7. Discussion of Days Cash on Hand Target (Discussion)
Nick Bijur, Chief Financial Officer provided an overview of the Days Cash on Hand Target.
Public Comment: None
8. Committee Members’ Reports
None
ADJOURNMENT
Meeting was adjourned at 9:47 a.m.