2075 Woodside Road | Redwood City, CA 94061
(650) 260-0005 | peninsulacleanenergy.com
Audit and Finance Committee of the
Peninsula Clean Energy Authority (PCEA)
AGENDA
Monday, May 11, 2026
8:30 am
PLEASE NOTE: This meeting will be held in a hybrid format with both in-person and Zoom participation options for members of the public.
In-Person Meeting Location:
PCEA Lobby, 2075 Woodside Road, Redwood City, CA 94061
Los Banos City Hall, Conference Room B, 520 J Street, Los Banos, CA 93635 Zoom, Virtual Meeting Link:https://pencleanenergy.zoom.us/j/89514559357 Meeting ID: 895-1455-9357 Passcode: 2075 Phone: +1 (669) 444-9171
INTRODUCTION
This meeting of the Peninsula Clean Energy Audit and Finance Committee will be held at the Peninsula Clean Energy Lobby: 2075 Woodside Road, Redwood City, CA 94061, and Los Banos City Hall, Conference Room B, 520 J Street, Los Banos, CA 93635 and by teleconference pursuant to the Ralph M. Brown Act, CA Gov’t Code. Section 54950, et seq. Members of the Committee should reach out to our General Counsel, Jennifer Stalzer, with questions or accommodation information ([email protected]). For information regarding how to participate in the meeting remotely, please refer to the instructions at the end of the agenda. In addition, a video broadcast of the meeting can be viewed at https://www.peninsulacleanenergy.com/meetings-events following the meeting.
Public Participation
The PCEA Audit and Finance Committee meeting may be accessed through Zoom online at https://pencleanenergy.zoom.us/j/89514559357. The meeting ID is: 895-1455-9357 and the passcode is:
2075. The meeting may also be accessed via telephone by dialing +1(669) 444-9171. Enter the webinar ID: 895-1455-9357, then press #. (Find your local number:
https://pencleanenergy.zoom.us/u/kTlH1Ocod). Peninsula Clean Energy uses best efforts to ensure audio and visual clarity and connectivity. However, it cannot guarantee the connection quality.
Members of the public can also attend this meeting physically at the Peninsula Clean Energy Lobby at 2075 Woodside Road, Redwood City, CA 94061, and Los Banos City Hall, Conference Room B, 520 J Street, Los Banos, CA 93635
Written public comments may be emailed to PCEA Board Clerk, Nelly Wogberg ([email protected]) and such written comments should indicate the specific agenda item on which the member of the public is commenting.
Spoken public comments will be accepted during the meeting in the Board Room(s) or remotely through Zoom at the option of the speaker. Please use the “Raise Your Hand” function in the Zoom platform, or press *6 if you phoned into the meeting, to indicate that you would like to provide comment. 1 1. Approval of Minutes from the February 9, 2026 Audit and Finance Committee Meeting
2. Chair Report (Discussion)
3. Staff Report (Discussion)
4. Q3 Fiscal Year 2026 Financial Report (Quarter Ending March 31, 2026) (Discussion)
5. Review Fiscal Year 2026-2027 Draft Budget (Discussion)
6. Committee Members' Reports (Discussion)
Please note that Peninsula Clean Energy Audit and Finance Committee meetings are a limited public forum, and all public comment must relate to something that is within the subject matter jurisdiction of the Committee. If comments do not relate to the subject matter jurisdiction of the Committee, we will stop the comment and move on to the next speaker. General Counsel will assist in identifying comments that are not related to the subject matter jurisdiction of the Committee.
ADA Requests
Individuals who require special assistance or a disability related modification or accommodation to participate in this meeting, or who have a disability and wish to request an alternative format for the meeting, should contact Nelly Wogberg, Board Clerk, by 10:00 a.m. on the day before the meeting at ([email protected]). Notification in advance of the meeting will enable PCEA to make reasonable arrangements to ensure accessibility to this meeting, the materials related to it, and your ability to comment.
Closed Captioning is available for all PCEA Board meetings. While watching the video broadcast in Zoom, please enable captioning.
CALL TO ORDER / ROLL CALL
PUBLIC COMMENT
This item is reserved for persons wishing to address the Committee on any PCEA-related matters that are not otherwise on this meeting agenda. Public comments on matters listed on the agenda shall be heard at the time the matter is called. Members of the public who wish to address the Committee are customarily limited to two minutes per speaker. The Committee Chair may increase or decrease the time allotted to each speaker.
ACTION TO SET AGENDA AND TO APPROVE CONSENT AGENDA ITEMS
REGULAR AGENDA
ADJOURNMENT
Public records that relate to any item on the open session agenda are available for public inspection. The records are available at the Peninsula Clean Energy offices or on PCEA Website at:
https://www.peninsulacleanenergy.com.
JOINING INSTRUCTIONS
2 Instructions for Joining a Zoom Meeting via Computer or Phone Best Practices:
Please mute your microphone when you are not speaking to minimize audio feedback If possible, utilize headphones or ear buds to minimize audio feedback If participating via videoconference, audio quality is often better if you use the dial-in option (option 2 below) rather than your computer audio
Options for Joining
Videoconference with Computer Audio - see Option 1 below Videoconference with Phone Call Audio - see Option 2 below Calling in via Telephone/Landline - see Option 3 below
Videoconference Options:
Prior to the meeting, we recommend that you install the Zoom Meetings application on your computer by clicking here https://zoom.us/download.
If you want full capabilities for videoconferencing (audio, video, screensharing) you must download the Zoom application.
Option 1 Videoconference with Computer Audio:
From your computer, click on the following link that is also included in the meeting calendar invitation: https://pencleanenergy.zoom.us/j/89514559357 The Zoom application will open on its own or you will be instructed to open Zoom.
After the application opens, the pop-up screen below will appear asking you to choose ONE of the audio conference options. Click on the Computer Audio option at the top of the pop-up screen.
Click the blue, "Join with Computer Audio" button.
In order to enable video, click on "Start Video" in the bottom left-hand corner of the screen. This menu bar is also where you can mute/unmute your audio.
Option 2 Videoconference with Phone Call Audio
From your computer, click on the following link that is also included in the Meeting Calendar Invitation: https://pencleanenergy.zoom.us/j/89514559357 The Zoom Application will open on its own or you will be instructed to Open Zoom. 3 After the application opens, the pop-up screen below will appear asking you to choose ONE of the audio conference options. Click on the Phone Call option at the top of the pop-up screen.
Please dial +1 (669) 444-9171.
You will be instructed to enter the meeting ID: 895-1455-9357 followed by #.
You will be instructed to enter in your participant ID. Your participant ID is unique to you and is what connects your phone number to your Zoom account.
After a few seconds, your phone audio should be connected to the Zoom application on your computer.
In order to enable video, click on "Start Video" in the bottom left-hand corner of the screen. This menu bar is also where you can mute/unmute your audio.
Audio Only Options:
Please note that if you call in/use the audio only option, you will not be able to see the speakers or any presentation materials in real time.
Option 3: Calling in via Telephone/Landline:
Please dial +1 (669) 444-9171.
You will be instructed to enter the meeting ID: 895-1455-9357 followed by #.
You will be instructed to enter your Participant ID followed by #. If you do not have a participant ID or do not know it, you can press # to stay on the line.
You will be instructed to enter the meeting passcode 2075 followed by #. 4 DATE: May 5, 2026
MEETING DATE: May 11, 2026
VOTE REQUIRED: Majority Vote
TO: Honorable Peninsula Clean Energy Authority Audit and Finance Committee FROM: Nelly Wogberg, Board Clerk
SUBJECT: Approval of Minutes from the February 9, 2026 Audit and Finance Committee Meeting
Item No. 1
PENINSULA CLEAN ENERGY AUTHORITY
JPA Board Correspondence
RECOMMENDATION
Approval of Minutes from the February 9, 2026 Audit and Finance Committee Meeting ATTACHMENTS:
02-09-2026 AFC Draft Minutes.pdf
5 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)
6 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.
7 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.
8 DATE: April 29, 2026
MEETING DATE: May 11, 2026
VOTE REQUIRED: None
TO: Honorable Peninsula Clean Energy Authority Audit and Finance Committee FROM: Nicholas Bijur, Chief Financial Officer
SUBJECT: Q3 Fiscal Year 2026 Financial Report (Quarter Ending March 31, 2026) (Discussion)
Item No. 4
PENINSULA CLEAN ENERGY AUTHORITY
JPA Board Correspondence
RECOMMENDATION
Receive report and provide any feedback. This is a discussion item only.
BACKGROUND
Staff will review financial results for the quarter ending March 31, 2026 and year-to-date.
ATTACHMENTS:
3Q Financial Summary.pdf
9 Fiscal Year Actual/Budget Amount Fiscal Year Actual/Budget Amount June 30, 2016 Audited ($1,044) June 30, 2016 Audited $3,833 June 30, 2017 Audited $21,711 June 30, 2017 Audited $18,882 June 30, 2018 Audited $85,365 June 30, 2018 Audited $64,689 June 30, 2019 Audited $140,139 June 30, 2019 Audited $114,069 June 30, 2020 Audited $189,072 June 30, 2020 Audited $177,629 June 30, 2021 Audited $180,717 June 30, 2021 Audited $165,652 June 30, 2022 Audited $167,671 June 30, 2022 Audited $135,090 June 30, 2023 Audited $307,626 June 30, 2023 Audited $254,074 June 30, 2024 Audited $349,200 June 30, 2024 Audited $389,062 June 30, 2025 Audited $358,295 June 30, 2025 Audited $439,084 March 31, 2026 Actual $408,800 March 31, 2026 Actual $508,464 March 31, 2026 Budget $393,038 March 31, 2026 Budget $442,880 Fiscal Year Actual/Budget Amount Fiscal Year Actual/Budget Amount FY2015-2016 Audited ($1,044) FY2015-2016 Audited $0
FY2016-2017 Audited $22,755 FY2016-2017 Audited $64,501 FY2017-2018 Audited $63,655 FY2017-2018 Audited $170,135 FY2018-2019 Audited $54,774 FY2018-2019 Audited $194,035 FY2019-2020 Audited $48,933 FY2019-2020 Audited $216,066 FY2020-2021 Audited ($8,355) FY2020-2021 Audited $213,834 FY2021-2022 Audited ($13,046) FY2021-2022 Audited $226,678 FY2022-2023 Audited $139,955 FY2022-2023 Audited $265,208 FY2023-2024 Audited $41,574 FY2023-2024 Audited $325,171 FY2024-2025 Audited $9,094 FY2024-2025 Audited $365,972 FY2025-2026 9mo. Act +3mo. Fcst $21,402 FY2025-2026 9mo. Act +3mo. Fcst $300,547 FY2025-2026 Budget $3,976 FY2025-2026 Budget $337,650
Fiscal Year Actual/Budget Amount Fiscal Year Actual/Budget Amount FY2015-2016 Audited $0 FY2015-2016 Audited $1,041
FY2016-2017 Audited $93,129 FY2016-2017 Audited $5,603
FY2017-2018 Audited $244,738 FY2017-2018 Audited $10,836 FY2018-2019 Audited $259,782 FY2018-2019 Audited $12,877 FY2019-2020 Audited $278,093 FY2019-2020 Audited $15,272 FY2020-2021 Audited $228,101 FY2020-2021 Audited $22,469 FY2021-2022 Audited $237,899 FY2021-2022 Audited $19,861 FY2022-2023 Audited $428,218 FY2022-2023 Audited $25,946 FY2023-2024 Audited $388,613 FY2023-2024 Audited $36,664 FY2024-2025 Audited $391,936 FY2024-2025 Audited $43,093 FY2025-2026 9mo. Act +3mo. Fcst $352,139 FY2025-2026 9mo. Act +3mo. Fcst $48,343 FY2025-2026 Budget $381,071 FY2025-2026 Budget $54,347
Revenues Total Other Operating Expenses
Change in Net Position Cost of Electricty
March 31, 2026
($000s)
Net Position Balance Unrestricted Cash/Investments Balance Peninsula Clean Energy
Performance at a Glance
Results for the Fiscal Quarter Ended
10 Peninsula Clean Energy
Performance at a Glance
Results for the Fiscal Quarter Ended
March 31, 2026
($000s)
FY26 Q3 Revenue FY26 Q3 Expense
Customer Accounts Energy Used
287,230 , 91%
28,709 , 9%
Customer Accounts
Residential Commercial/Industrial
369,145 , 42%
500,027 , 58%
FY 2026 Q3 Energy Usage (MWh)
Residential Commercial/Industrial
$65,545
$78,708
$0 $25,000 $50,000 $75,000 $100,000
Actual vs. Budget
Actual Revenues - FY 2026 Q3 Budget Revenues - FY26 Q3
$84,279
$108,579
$0 $25,000 $50,000 $75,000 $100,000 $125,000
Actual vs. Budget
Actual Expenses - FY26 Q3 Budget Expenses - FY26 Q3
11 1
ACCOUNTANTS’ COMPILATION REPORT
Board of Directors
Peninsula Clean Energy Authority
Management is responsible for the accompanying financial statements of Peninsula Clean Energy Authority (PCE), a California Joint Powers Authority, which comprise the statement of net position as of March 31, 2026, and the statement of revenues, expenses, and changes in net position, and the statement of cash flows for the nine months then ended, in accordance with accounting principles generally accepted in the United States of America. We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not audit or review the accompanying statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, conclusion, nor provide any assurance on these financial statements.
Management has elected to omit substantially all of the note disclosures required by accounting principles generally accepted in the United States of America in these interim financial statements.
PCE’s annual audited financial statements will include the note disclosures omitted from these interim statements. If the omitted disclosures were included in these financial statements, they might influence the user’s conclusions about the Authority’s financial position, results of operations, and cash flows. Accordingly, these financial statements are not designed for those who are not informed about such matters.
We are not independent with respect to PCE because we performed certain accounting services that impaired our independence.
Maher Accountancy
San Rafael, CA
April 30, 2026
1101 Fifth Avenue, Suite 200 San Rafael, CA 94901 415 459 1249 mahercpa.com 12 ASSETS
Current assets
Cash and cash equivalents 223,802,578$
Accounts receivable, net of allowance 16,521,638
Accrued revenue 8,781,201
Investments 5,282,672
Loans and other receivables 12,910,189
Prepaid expenses 3,647,873
Deposits 3,150,274
Total current assets 274,096,425
Noncurrent assets
Investments 278,919,595
Loans receivable 8,518,662
Capital assets, net of depreciation and amortization 22,318,314 Total noncurrent assets 309,756,571
Total assets 583,852,996
LIABILITIES
Current liabilities
Accrued cost of electricity 34,553,333
Accounts payable 2,336,076
Other accrued liabilities 4,103,932
Deferred revenue 2,565,592
User taxes and energy surcharges due to other governments 919,946 Lease liability 305,308
Total current liabilities 44,784,187
Noncurrent liabilities
Deposits - energy suppliers 2,268,451
Total noncurrent liabilities 2,268,451
Total liabilities 47,052,638
DEFERRED INFLOWS OF RESOURCES
Rate Stabilization Fund 128,000,000
NET POSITION
Net investment in capital assets 21,419,874
Unrestricted 387,380,484
Total net position $ 408,800,358
As of March 31, 2026
STATEMENT OF NET POSITION
PENINSULA CLEAN ENERGY AUTHORITY
See accountants' compilation report. 2 13
OPERATING REVENUES
Electricity sales, net 288,716,062$
Liquidated damages revenue 961,734
Grant revenue 1,795,936
Total operating revenues 291,473,732
OPERATING EXPENSES
Cost of electricity 219,631,623
Contract services 9,191,805
Staff compensation 12,011,856
Program incentives 10,516,745
Other operating expenses 2,636,370
Depreciation and amortization 702,631
Total operating expenses 254,691,030
Operating income (loss) 36,782,702
NONOPERATING REVENUES (EXPENSES)
Investment income 13,735,685
Interest expense (12,586)
Nonoperating revenues (expenses), net 13,723,099
CHANGE IN NET POSITION 50,505,801
Net position at beginning of period 358,294,557
Net position at end of period $ 408,800,358
PENINSULA CLEAN ENERGY AUTHORITY
STATEMENT OF REVENUES, EXPENSES
AND CHANGES IN NET POSITION
Nine Months Ended March 31, 2026
See accountants' compilation report. 3 14
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers 320,182,312$
Receipts from grantors 3,383,183
Receipts of deposits and collateral 3,633,362
Receipts of liquidated damages 961,734
Receipts from wholesale sales and other operating activities 16,089,214 Payments to suppliers for electricity (241,021,835)
Payments for other goods and services (23,010,974)
Payments of deposits and collateral (4,388,395)
Payments of staff compensation (11,895,360)
Payments of taxes and surcharges to other governments (3,957,235) Net cash provided (used) by operating activities 59,976,006
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Receipt of solar energy investment credit 3,059,050
Purchases of capital assets (9,279,376)
Payments of lease (435,157)
Net cash provided (used) by capital and related financing activities (6,655,483)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sales and maturities of investments 82,300,534 Investment income received 13,493,055
Purchase of investments (141,867,301)
Net cash provided (used) by investing activities (46,073,712) Net change in cash and cash equivalents 7,246,811
Cash and cash equivalents at beginning of period 216,555,767 Cash and cash equivalents at end of period $ 223,802,578
NONCASH INVESTING ACTIVITIES
Change in fair value of investments 11,253$
Change in interest receivable 231,377$
NONCASH CAPITAL FINANCING ACTIVITIES
Capital acquisitions included in accounts payable and other liabilities 593,132$ Nine Months Ended March 31, 2026
STATEMENT OF CASH FLOWS
PENINSULA CLEAN ENERGY AUTHORITY
See accountants' compilation report. 4 15
RECONCILIATION OF OPERATING INCOME (LOSS) TO NET
CASH PROVIDED (USED) BY OPERATING ACTIVITIES
Operating income (loss) 36,782,702$
Adjustments to reconcile operating income to net
cash provided (used) by operating activities
Depreciation and amortization expense 702,631
(Increase) decrease in:
Accounts receivable, net of allowance 14,041,123
Accrued revenue 14,827,918
Other receivables (7,992,959)
Prepaid expenses (570,226)
Deposits and other assets (494,033)
Increase (decrease) in:
Accrued cost of electricity 1,514,660
Accounts payable (675,990)
Other accrued liabilities 346,686
Deferred revenue 1,478,508
User taxes and energy
surcharges due to other governments 275,986
Deposits - energy suppliers (261,000)
Net cash provided (used) by operating activities 59,976,006$ Nine Months Ended March 31, 2026
STATEMENT OF CASH FLOWS
PENINSULA CLEAN ENERGY AUTHORITY
(continued)
See accountants' compilation report. 5 16
Cash Receipts .00 10,000,000.00
Taxable Interest 519,731.47 3,775,757.55Realized Gain/Loss 14,768.06 111,535.13Change In Unrealized Gain/Loss - 1,631,331.65 - 91,874.32 Change In Accrued Income 34,570.00 91,947.28
PENINSULA CLEAN ENERGY - CHANDLER Page 3 of 44ACCOUNT Period from March 1, 2026 to March 31, 2026
CURRENT PERIOD YEAR TO DATE
03/01/2026 TO 03/31/2026 07/01/2025 TO 03/31/2026
Beginning Market Value 145,068,062.61 130,118,434.85ReceiptsTotal Receipts .00 10,000,000.00Asset ActivityTotal Asset Activity - 1,062,262.12 3,887,365.64Net Change In Market Value - 1,062,262.12 13,887,365.64Ending Market Value 144,005,800.49 144,005,800.49
MARKET VALUE RECONCILIATION
17 Cash Receipts .00 10,000,000.00
Taxable Interest 519,731.47 3,775,757.55Realized Gain/Loss 14,768.06 111,535.13Change In Accrued Income 34,570.00 91,947.28 PENINSULA CLEAN ENERGY - CHANDLER Page 4 of 44ACCOUNT Period from March 1, 2026 to March 31, 2026
CURRENT PERIOD YEAR TO DATE
03/01/2026 TO 03/31/2026 07/01/2025 TO 03/31/2026
Beginning Cost 142,404,732.52 128,994,562.09ReceiptsTotal Receipts .00 10,000,000.00Asset ActivityTotal Asset Activity 569,069.53 3,979,239.96Ending Cost 142,973,802.05 142,973,802.05
COST RECONCILIATION
18 Cash And Equivalents 8,101,049.94 5.64
U.S. Government Issues 80,438,564.83 55.86Corporate Issues 50,336,746.16 34.95Foreign Issues 3,015,680.00 2.09Municipal Issues 1,114,304.85 0.77Accrued Income 999,454.71 0.69PENINSULA CLEAN ENERGY - CHANDLER Page 5 of 44ACCOUNT Period from March 1, 2026 to March 31, 2026 03/31/2026 % OF
ASSETS MARKET VALUE MARKETTotal Assets 143,006,345.78 99.31Grand Total 144,005,800.49 100.00
ASSET SUMMARY
CASH EQUIV & ACCR 6.33%
BONDS 93.67%
19 Cash Receipts .00 30,000,000.00
Taxable Interest 484,323.70 3,618,489.85Realized Gain/Loss 248,619.24 884,480.16Change In Unrealized Gain/Loss - 1,847,476.87 - 986,663.60Change In Accrued Income - 28,407.29 161,024.63 PENINSULA CLEAN ENERGY - PFM Page 3 of 73ACCOUNT Period from March 1, 2026 to March 31, 2026
CURRENT PERIOD YEAR TO DATE
03/01/2026 TO 03/31/2026 07/01/2025 TO 03/31/2026
Beginning Market Value 149,554,589.38 114,734,317.12ReceiptsTotal Receipts .00 30,000,000.00Asset ActivityTotal Asset Activity - 1,142,941.22 3,677,331.04Net Change In Market Value - 1,142,941.22 33,677,331.04Ending Market Value 148,411,648.16 148,411,648.16
MARKET VALUE RECONCILIATION
20 Cash Receipts .00 30,000,000.00
Taxable Interest 484,323.70 3,618,489.85Realized Gain/Loss 248,619.24 884,480.16Change In Accrued Income - 28,407.29 161,024.63 PENINSULA CLEAN ENERGY - PFM Page 4 of 73ACCOUNT Period from March 1, 2026 to March 31, 2026
CURRENT PERIOD YEAR TO DATE
03/01/2026 TO 03/31/2026 07/01/2025 TO 03/31/2026
Beginning Cost 146,829,546.47 112,870,087.48ReceiptsTotal Receipts .00 30,000,000.00Asset ActivityTotal Asset Activity 704,535.65 4,663,994.64Ending Cost 147,534,082.12 147,534,082.12
COST RECONCILIATION
21 22
23 24
DATE: April 29, 2026
MEETING DATE: May 11, 2026
VOTE REQUIRED: None
TO: Honorable Peninsula Clean Energy Authority Audit and Finance Committee FROM: Nicholas Bijur, Chief Financial Officer
SUBJECT: Review Fiscal Year 2026-2027 Draft Budget (Discussion) Item No. 5
PENINSULA CLEAN ENERGY AUTHORITY
JPA Board Correspondence
BACKGROUND
Staff will present a draft of the proposed Fiscal Year 2026-2027 budget. 25