Pioneer Community Energy
Audit & Finance Committee
REGULAR MEETING
July 13, 2026
3:30 PM
2510 Warren Drive, Suite B, Rocklin, CA 95677
This regular meeting will convene in person at the address printed above; be accessible on the Zoom platform at the following link:
https://us06web.zoom.us/j/83014685538;
and live streamed for viewing on the Pioneer website:
https://pioneercommunityenergy.org/about-us/meetings-and-agendas/.
Members of the public may participate in person or by remote audio/visual access.
Those who participate remotely and wish to comment should be prepared to use the Zoom platform via computer or telephone. Public comment will be opened for each agenda item in sequence.
How to Participate Using Zoom
You can join the meeting using the following link:
https://us06web.zoom.us/j/83014685538.
When you join the meeting, you will be muted by default. To inform the Clerk that you would like to make a public comment, you will use the “Raise Hand” feature.
Public Comment via Computer or Smartphone
If you would like to make a comment, you will use the “Raise Your Hand” feature. Please note that you should only raise your hand during the item to which you will comment. Instructions for using the “Raise Hand” feature when using a computer or mobile device can be found at the link:
https://support.zoom.us/hc/en-us/articles/205566129-Raising-your-hand-in-a-webinar Public Comment via telephone (Audio Only Option)
1. Dial 1 (669) 900-6833
2. When asked for the meeting ID, enter 830 1468 5538#
3. When asked for your participant ID, press # to continue You will be muted by default. To inform the Clerk that you would like to make a comment during each agenda item, dial *9 to “Raise your hand.” When it is your turn to speak, the clerk will identify you by the last three digits of your phone number, at that time dial *6 to unmute yourself and state your name and comment for the record. Please note that you should only raise your hand during the item to which you will comment.
Committee Members
Gary Petersen
Chair
Richard Pearl
Vice Chair
City of Colfax
Sean Lomen
Kim Douglass, Alternate
City of Lincoln
Richard Pearl
John Reedy, Alternate
Town of Loomis
David Ring
Danny Cartwright, Alternate
City of Nevada City
Gary Petersen
Lou Ceci, Alternate
City of Rocklin
Greg Janda
David Bass, Alternate
Plf)NEER
COMMUNITY ENERGY
July 13, 2026 Audit & Finance Committee - page 2
I. GENERAL ADMINISTRATIVE FUNCTION – PART 1
A. CALL TO ORDER
1. Roll Call
B. AGENDA REVIEW
C. PRESENTATIONS BY THE PUBLIC ON MATTERS NOT ON THE AGENDA WITHIN THE
JURISDICTION OF THE BOARD
Persons may address the Committee on items that are not on this agenda. Please limit comments to 3 minutes per person. According to State Law (the Brown Act), items must first be noticed on the agenda before any discussion or action. The Committee is prohibited from discussing issues not on the agenda brought to them at this time.
II. CONSENT AGENDA
1) APPROVAL OF THE CONSENT AGENDA
All items on the Consent Agenda have been recommended for approval by the Chief Executive Officer. All Consent items will be approved by a single vote. Anyone may ask to address Consent items prior to the Committee acting, and the item may be moved for discussion. a) Approve minutes of the May 11, 2026 regular meeting.
III. REGULAR AGENDA
2) Economic Development Incentive (ECKERT)
Receive and discuss presentation of an Economic Development Incentive. 3) Commercial & Industrial Energy Management System (KANG) Receive and discuss presentation of a Commercial & Industrial Energy Management System.
IV. GENERAL ADMINISTRATIVE FUNCTION – PART 2
A. CHIEF EXECUTIVE OFFICER’S REPORT
B. ADJOURNMENT
Accommodations
Pioneer Community Energy is committed to ensuring that persons with disabilities are provided with the resources to participate fully in its public meetings. If you are hearing impaired, we have listening devices available. If you require additional disability-related modifications or accommodations, including auxiliary aids or services, please contact the Clerk of the Board. If requested, the agenda shall be provided in appropriate alternative formats to persons with disabilities. All requests must be in writing and must be received by the Clerk five business days prior to the scheduled meeting for which you are requesting accommodation. Requests received after such time will be accommodated only if time permits.
Affidavit of Posting
I, Teresa Willock, Board Secretary, declare under penalty of perjury that the foregoing agenda for the July 13, 2026 meeting of the Pioneer Community Energy Audit & Finance Committee was posted and available for public review on July 8, 2026, at the offices of Pioneer Community Energy, 2510 Warren Drive, Suite B, Rocklin, CA 95677; and on the Pioneer website at: https://pioneercommunityenergy.org/about-us/meetings-and-agendas/.
All public materials related to an item on this agenda submitted to the Audit & Finance Committee after distribution of the agenda packet are also made available for public inspection on Pioneer’s website at:
https://pioneercommunityenergy.org/about-us/meetings-and-agendas/ Any document provided at the meeting by staff or by the public will be provided by the Board Clerk upon request by phone at (916) 251-8573, or by email at: [email protected].
PIONEER COMMUNITY ENERGY
AUDIT & FINANCE COMMITTEE
May 11, 2026
Minutes
Entry No. 1
Heard General Administrative Functions, Part I.
Call to Order
Pioneer Community Energy Audit & Finance Committee met in open session at 4:05 PM on May 11, 2026. 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; and was accessible for viewer participation on the Zoom platform at the following link:
https://us06web.zoom.us/j/86098566406; and live streamed for viewing on the Pioneer website:
https://pioneercommunityenergy.org/about-us/meetings-and-agendas/.
Roll Call
Committee Chair Petersen (Nevada City), Committee Vice Chair Pearl (Lincoln), Committee Member Lomen (Colfax), Committee Member Janda (Rocklin),
Absent: Committee Member Ring (Loomis).
Committee Chair Petersen acknowledged that he was participating from a remote location per the “just cause” provision due to contagious illness; and, that no persons age 18 or older were in the room with him and that he would declare if anyone does enter the room during this meeting.
Per Committee Chair Petersen’s request, Committee Vice Chair Pearl presided over the meeting.
Agenda Review
Reviewed the meeting agenda for May 11, 2026, and agreed to move Item 3, Power Prepay Transaction, before Item 2, Overview of Fiscal Year 2026-27 Operating Budget, allowing the guest presenter to leave this meeting at any time following item presentation.
Public Comment
There were no comments from the public regarding items not listed on this agenda.
Entry No. 2
Acted on the Consent Agenda as follows:
Approved Minutes of the April 7, 2026, Audit & Finance Committee regular meeting as presented.
MOTION: Janda/Lomen. Vote: 4:0:1.
ROLL CALL VOTE:
AYES: Janda, Lomen, Pearl, Petersen.
NOES: None.
ABSENT: Ring.
Entry No. 3
Power Prepay Transaction
The Committee received a progress report on the Power Prepay Transaction from Michael Berwanger, PFM; and, discussed next steps.
DRAFT - ITEM 1a
DRAFT Audit & Finance Committee
May 11, 2026
2 The Committee considered and discussed the Power Prepay Transaction execution parameters as (1) the aggregate principal amount of bonds would not exceed $1.25 billion; (2) a minimum discount of at least seven percent of the fixed cash flows; (3) total issuance costs would not exceed 1.50% of the amount of bond proceeds issued; and, (4) that the bonds are not obligations of Pioneer.
Staff confirmed that the risk is low for the bond to fail and Pioneer would not be responsible to repay the bonds, would only lose the discount on the negotiated Power Purchase Agreement.
The Committee was in favor of the Transaction as the risk is low for Pioneer; and, recommended staff to provide more information regarding “low risk-great reward” when presenting the Transaction to the Board of Directors.
Next steps included consideration and approval by Pioneer’s Board of Directors on May 21; approval by the California Community Choice Financing Authority (CCCFA) Board on May 28; and closing the transaction during the week of June 8.
Entry No. 4
Overview of Fiscal Year 2026-27 Operating Budget
Received overview and discuss presentation of the Fiscal Year 2026-27 Operating Budget.
In preparation for expansion, Pioneer will need increased personnel to support expansion preparation with additional communication, outreach, strategy, planning, and customer engagement efforts. Staff proposed adding seven new full-time positions at of cost of $2.4 million per fiscal year.
The Committee recommended staff to enlarge the organizational chart for the Board presentation; and, agreed to present the recommended budget to the full Board of Directors for their approval.
Entry No. 5
Review Use of Put Options as a Power Charge Indifference Adjustment (PCIA) Hedge (KANG) Received follow up on Joint Powers Agencies ability to utilize derivatives and next steps.
Staff confirmed that this is an approved method for use as a mitigation hedging tool; and, reported that General Counsel had provided guidance on the use of put options: “The proposed CAISO-indexed option would likely exceed Pioneer’s authority if it were characterized as an “investment” of public funds. The same structure, however, may be justified under Pioneer’s procurement if it is clearly and consistently treated as a risk management tool tied to Pioneer’s obligation to manage wholesale price exposure, rather than as a means of generating returns on surplus cash.” The next step would be to issue a Request For Information to banks with commodity desks; then, to study those proposals.
Regarding the PCIA, staff confirmed that Pioneer’s exposure may increase due to the relative load of new member agencies with differing vintage years and not yet knowing what the PCIA would be for 2027; and, informed the Committee that there are current legislation efforts regarding more transparency on the PCIA formula.
Adjournment
The meeting adjourned at 5:21 PM.