PIONEER COMMUNITY ENERGY
AUDIT & FINANCE COMMITTEE
December 6, 2023
Minutes
Entry No. 1
Heard General Administrative Functions, Part I.
Call to Order
Pioneer Community Energy Audit & Finance Committee met in open session at 3:00 PM on December 6, 2023.
The Members convened in person and the meeting was accessible to the public at Pioneer Community Energy, 2510 Warren Drive, Suite B, Rocklin, California, 95677; at remote locations: Nevada City - City Hall, Wetherall Conference Room, 317 Broad Street, Nevada City, CA 95959; and was accessible for viewer participation on the Zoom platform at the following link: httos://us06web.zoom .us/i/81066158564; and live streamed for viewing on the Pioneer website: httos://oioneercommunityenerqy.orq/about-us/meetinqs-and -aqendas/.
Roll Call
Committee Chair Janda (Rocklin); Director Hidahl (El Dorado County); and Director Petersen (Nevada City).
Director Andreatta (Lincoln) was absent.
Chair Janda presided over the meeting.
Public Comment
There were no comments from the public regarding items not listed on this agenda.
Agenda Review
Reviewed the meeting agenda for December 6, 2023, with no amendments made to the agenda.
Entry No. 2
Acted on the Consent Agenda as follows:
Approved Minutes of the September 6, 2023 Audit & Finance Committee regular meeting.
MOTION: Hidahl/Petersen. Vote: 3:0:1.
ROLL CALL VOTE: Hidahl, Petersen, Janda.
Absent: Andreatta.
Entry No. 3
Audit Report Update
Received an audit update from Pioneer's independent auditor, Brett Bradford, Pisenti & Brinker LLP, who reported that the final report will be complete by December 15, 2023; and currently there are no findings to report for years ended June 30, 2023.
Entry No. 4
Rates Discussion
Received presentation and discussed rates for 2024.
Consistent with the last two years, the Committee voted to recommend that the Board select Option 2 (Balance Approach). The new rates would be effective as of January 1, 2024.
MOTION: Hidahl/Petersen. Vote: 3:0:1.
ROLL CALL VOTE: Hidahl, Petersen, Janda.
Absent: Andreatta.
Audit & Finance Committee
December 6, 2023
Chief Operating Officer Kang provided an update on Biomass and the final California Public Utilities Commission (CPUC) decision regarding AB 843 Implementation.
Entry No. 5
Internal Controls
Received presentation overview on Internal Controls that focused on payment and revenue flow and the importance of Maher Accountancy expertise that supplements the few Pioneer finance staff in ensuring that proper internal controls are in place. Maher Accountancy provides critical support that contributes to the 'clean' audited financial reports that Pioneer has received.
Entry No. 6
Heard General Administrative Functions, Part II.
Executive Director Eckert informed the Board that Pioneer Community Energy met with Standard & Poors regarding a credit rating for Pioneer which would be an advantage in business and pricing. The outcome is expected in two-three weeks.
Public Affairs, Marketing & Programs Director Stassi-Vanacore reported that staff are tracking the opt-out rate for Nevada City and Grass Valley to be at 40 as of today; and that El Dorado Hills Community Service District requested a staff report for the District to vote on joining Pioneer and to update them on the 2024 rates.
The meeting adjourned at 3:44 PM.
ATTEST:
Minutes approved as presented by a majority vote of
the Audit & Finance Committee on January 3, 2024 .
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Teresa ~riv Willock, Board Secretary
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