MEETING MINUTES – FINANCE AND RISK MANAGEMENT COMMITTEE –COMMUNITY POWER– OCTOBER 16, 2025
SAN DIEGO COMMUNITY POWER
FINANCE AND RISK MANAGEMENT COMMITTEE
Regular Meeting Minutes
October 16, 2025
City of Chula Vista
Council Chambers, 276 Fourth Avenue, Chula Vista, CA
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WELCOME
CALL TO ORDER
Chair Yamane called the Finance and Risk Management Committee meeting to order at 3:03 p.m.
ROLL CALL
PRESENT: Chair Yamane, City of National City; Vice Chair Suzuki, City of La Mesa; and Director Inzunza, City of Chula Vista
Absent: None
Staff Present: Chief Financial Officer/Treasurer Dr. Washington; General Counsel Tyagi; Director of Finance Manglicmot; Senior Strategic Finance Manager Spengler; Clerk of the Board Hernandez; and Assistant Clerk of the Board Vences
PLEDGE OF ALLEGIANCE
Chair Yamane led the Pledge of Allegiance.
LAND ACKNOWLEDGEMENT
Chair Yamane acknowledged the Kumeyaay Nation and all the original stewards of the land.
ITEMS TO BE ADDED, WITHDRAWN, OR REORDERED ON THE AGENDA There were no items added, withdrawn, or reordered on the agenda.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– OCTOBER 16, 2025
CONSENT CALENDAR
Vice Chair Suzuki requested Item No. 2 be pulled from Consent for discussion.
1. Approve September 18, 2025, Meeting Minutes
3. Recommend Board Approval of Non-Material Revisions to FY 2025-2026 Operating Budget, the FY 2025-2026 Capital Budget, and the FY 2026-2030 Capital Investment Plan There were no public comments on Consent Item Nos. 1 and 3.
Motioned by Director Inzunza and seconded by Vice Chair Suzuki to approve Consent Item Nos. 1 and
3. The motion carried unanimously as follows:
AYES: Chair Yamane, Vice Chair Suzuki, and Director Inzunza NOES: None
ABSTAINED: None
ABSENT: None
2. Approve 2026 Finance and Risk Management (FRMC) Committee Meeting Schedule Committee members discussed the possibility of moving 2026 FRMC meetings to 4 pm.
There were no public comments on Consent Item No. 2.
Motioned by Vice Chair Suzuki and seconded by Director Inzunza to direct staff to check the availability of the Chula Vista Chambers to move FRMC meetings to 4 p.m. The motion carried unanimously as follows:
AYES: Chair Yamane, Vice Chair Suzuki, and Director Inzunza NOES: None
ABSTAINED: None
ABSENT: None
REGULAR AGENDA
4. Fiscal Year End 2024-25 Financial Audit Progress Report Presentation
Dr. Washington introduced the item and turned it over to Kellin Gilert and Alauna Rico (via Zoom Teleconference), representatives from Sorren, to present the progress report.
There were no public comments on Item No. 4.
MEETING MINUTES – FINANCE AND RISK MANAGEMENT COMMITTEE –COMMUNITY POWER– OCTOBER 16, 2025
After Committee Member questions and comments, the Fiscal Year End 2024-25 Financial Audit Progress Report Presentation was received and filed.
5. Treasurer’s Report for Period Ending July 31, 2025
Dr. Washington presented the Treasurer’s Report for Period Ending July 31, 2025.
There were no public comments on Item No. 5.
The Committee received and filed the Treasurer’s Report for Period Ending July 31, 2025.
6. Recommend Board Adoption of Resolution No. 2025__, Approving a Third Revision to the Financial Reserves Policy
Mr. Spengler provided an overview of the proposed revisions to the Financial Reserve Policy.
There were no public comments on Item No. 6.
Motioned by Vice Chair Suzuki and seconded by Director Inzunza to recommend Board Adoption of Resolution No. 2025-__, approving a Third Revision to the Financial Reserves Policy. The motion carried unanimously as follows:
AYES: Chair Yamane, Vice Chair Suzuki, and Director Inzunza NOES: None
ABSTAINED: None
ABSENT: None
COMMITTEE MEMBER ANNOUNCEMENTS
Committee members made announcements and reported on various events taking place in their member jurisdictions.
ADJOURNMENT
The Finance and Risk Management Committee adjourned at 3:40 p.m. to the next regular meeting scheduled for Thursday, November 13, 2025, at 3 pm.
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Sandra Vences, Assistant Clerk of the Board