MEETING MINUTES – FINANCE AND RISK MANAGEMENT COMMITTEE –COMMUNITY POWER– JANUARY 16, 2025
FINANCE AND RISK MANAGEMENT COMMITTEE
SAN DIEGO COMMUNITY POWER (COMMUNITY POWER)
City of Chula Vista
Council Chambers, 276 Fourth Avenue, Chula Vista, CA
Regular Meeting Minutes
January 16, 2025
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WELCOME
CALL TO ORDER
Interim Chair Aguirre called the Finance and Risk Management Committee meeting to order at 3:04 p.m.
ROLL CALL
PRESENT: Interim Chair Aguirre, City of Imperial Beach and Director Yamane, City of National City
ABSENT: None
STAFF: Chief Financial Officer/Treasurer Washington; General Counsel Tyagi; Senior Director of Data Analytics and Customer Operations Utouh; Rates and Strategy Manager Lu; Clerk of the Board Hernandez; and Assistant Clerk of the Board Vences
PLEDGE OF ALLEGIANCE
Interim Chair Aguirre led the Pledge of Allegiance.
ITEMS TO BE ADDED, WITHDRAWN, OR REORDERED ON THE AGENDA There were no items added, withdrawn, or reordered on the agenda.
PUBLIC COMMENTS FOR ITEMS NOT ON THE AGENDA
There were no public comments.
MEETING MINUTES – FINANCE AND RISK MANAGEMENT COMMITTEE –COMMUNITY POWER– JANUARY 16, 2025
CONSENT CALENDAR
1. Approve October 17, 2024, Meeting Minutes
2. Approval of 2025 Meeting Schedule for San Diego Community Power (Community Power) Finance and Risk Management Committee There were no public comments on Consent Item Nos. 1-2.
Motioned by Director Yamane and seconded by Interim Chair Aguirre to approve Consent Item Nos. 1-2. The motion carried unanimously as follows:
AYES: Interim Chair Aguirre and Director Yamane
NOES: None
ABSTAINED: None
ABSENT: None
REGULAR AGENDA
3. Approve a Contract with Maher Accountancy for General Accounting Professional Services in an Amount Not-to-Exceed $1,131,000 from February 1, 2025, through January 31, 2027, and for Two Optional One-Year Extensions in an Amount Not-to-Exceed $377,000 Each Respective Year, and Authorize the Chief Executive Officer to Execute the Contract Dr. Washington presented an overview of a proposed contract with Maher Accountancy for General Accounting Professional Services.
There were no public comments on Item No. 3.
Director Yamane reminded Dr. Washington that the contract expiration year should be 2028. Dr. Washington concurred with Director Yamane and shared that when this item is presented to the Board, the year would be corrected to 2028 to align the three-year initial period.
Following Committee questions, discussion and comments, Director Yamane motioned and seconded by Interim Chair Aguirre to recommend Board approve a contract with Maher Accountancy for General Accounting Professional Services in an Amount Not-to-Exceed $1,131,000 from February 1, 2025, through January 31, 2028, and for Two Optional One-Year Extensions in an Amount Not-to-Exceed $377,000 for Each Respective Year, and, Authorize the Chief Executive Officer to Execute the Contract. The motion carried unanimously as follows:
AYES: Interim Chair Aguirre and Director Yamane
NOES: None
MEETING MINUTES – FINANCE AND RISK MANAGEMENT COMMITTEE –COMMUNITY POWER– JANUARY 16, 2025 ABSTAINED: None
ABSENT: None
4. Review of Treasurer’s Report for Period Ending November 30, 2024 Dr. Washington presented the Treasurer’s Report for Period Ending November 30, 2024.
There were no public comments on Item No. 4.
Committee members received and filed Item No. 4.
5. Update on 2025 Projected Rate Changes
Mr. Utouh and Mr. Lu provided an update on 2025 Projected Rate Changes.
There were no public comments on Item No. 5.
Committee members received and filed Item No. 5.
Committee Member Announcements
None.
ADJOURNMENT
The Finance and Risk Management Committee meeting was adjourned at 3:26 p.m. to the next Finance and Risk Management Committee meeting scheduled on Thursday, February 20, 2025.
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Sandra Vences, Assistant Clerk of the Board