Regular Meeting of the Audit and Finance Committee of the Peninsula Clean Energy Authority (PCEA)
Minutes
Monday, February 9, 2026
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, 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
Mark Dinan, East Palo Alto, arrived at 8:38 a.m.
Michale Amabile, Los Banos, participating from Los Banos Elmer Martinez Saballos, Redwood City
Absent: None
A quorum was established.
PUBLIC COMMENT
None
ACTION TO SET AGENDA AND TO APPROVE CONSENT AGENDA ITEMS Public Comment: None
MOTION: Director McCune moved, seconded by Director Martinez-Saballos to set the Agenda and approve Agenda Item Numbers 1-2.
1. Approval of the 2026 Audit and Finance Committee Meeting Schedule
2. Approval of Minutes from the September 8, 2025 and November 10, 2025 Audit and Finance Committee Meetings.
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 Dinan X
Los Banos Director Amabile X
Redwood City Elmer Martinez-Saballos
X
Totals 5
REGULAR AGENDA
3. Chair Report
None
4. Staff Report
Nick Bijur, Chief Financial Officer, provided an update on the rate change effective February 1, 2026, the second prepay transaction which closed on December 19, 2025, the upcoming budget season, the upcoming banking request for proposals selection, and 2025 investment returns.
5. Review of Peninsula Clean Energy's Cash Investment Performance in 2025 and Market Overview (Discussion)
Nick Bijur, Chief Financial Officer, introduced Carlos Oblites, Senior Portfolio and Investment Pool Strategist from Chandler Asset Management, who provided an in-depth presentation on PCE's portfolio, strategy, and market conditions.
Public Comment: None
6. Discussion of Request for Proposals (RFP) for General Banking Services (Discussion)
Nick Bijur, Chief Financial Officer, shared the results of the RFP for treasury services and sought feedback from the Audit and Finance Committee ahead of bringing this item to the March 26, 2026 Board of Directors meeting.
Public Comment: Rosa Cucicea from River City Bank
7. Discussion of Quarter Two Fiscal Year 2026 Financial Report (Quarter Ending December 31, 2025) (Discussion)
Nick Bijur, Chief Financial Officer, gave a presentation on the Quarter Two financial report for Fiscal Year 2026.
Public Comment: None
8. Audit and Finance Committee Approval of Remote Meetings Pursuant to Senate Bill (SB) 707 and Discussion of In-Person Meeting Cadence for 2026 (Action)
Jennifer Stalzer, General Counsel, gave a presentation on the Board action regarding SB 707.
Public Comment: None
MOTION: Director Martinez-Saballos moved, seconded by Director Dinan to Approve Remote Meetings Pursuant to Senate Bill (SB) 707.
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 Dinan X
Los Banos Director Amabile X
Redwood City Elmer Martinez-Saballos
X
Totals 5
9. Committee Members’ Reports
Director Dinan noted that East Palo Alto completed a lighting study for the city with efficient lighting.
ADJOURNMENT
Meeting was adjourned at 10:15 a.m.