Silicon Valley Clean Energy
Audit Committee Meeting
Friday, September 30, 2022
11:00 a.m.
Pursuant to State of California Gov’t Code Section 54953 (e) the meeting was conducted via teleconference.
MEETING MINUTES
Call to Order
Board Clerk Andrea Pizano called the meeting to order at 11:03 a.m.
Roll Call
Present:
Chair Bryan Mekechuk, City of Monte Sereno
Alternate Director Sergio Lopez, City of Campbell
Committee member Vickie Rahman, City of Gilroy
Absent:
Vice Chair Margaret Abe-Koga, City of Mountain View
All present attendees participated via teleconference.
Public Comment on Matters Not Listed on the Agenda
No speakers.
Consent Calendar
MOTION: Alternate Director Lopez moved and Committee member Rahman seconded the motion to approve the Consent Calendar.
Chair Mekechuk opened public comment.
No speakers.
Chair Mekechuk closed public comment.
The motion carried unanimously by verbal roll call vote with Vice Chair Abe-Koga absent. 1) Approve Minutes of the August 31, 2022, Audit Committee Meeting DocuSign Envelope ID: 946CC084-9568-4189-BFFD-42F771F602D1 Prior to addressing the Regular Calendar, CEO Girish Balachandran announced Committee member Rahman would be stepping down from her role in the Audit Committee and thanked her for her service on the Audit Committee. CEO Balachandran noted staff would bring an item to the Board of Directors on the Consent Calendar to reduce membership of the 2022 Audit Committee from four members to three members. Committee member Rahman thanked the group for allowing her to serve on the committee.
Chair Mekechuk opened public comment.
No speakers.
Chair Mekechuk closed public comment.
Regular Calendar
2) SVCE Financial Audit Kick-off: Pisenti & Brinker LLP (Discussion) Amrit Singh, CFO and Director of Administrative Services, introduced Kellin Gilbert and Jenna Blanchard of Pisenti and Brinker LLP, who would be working on SVCE’s financial audit. Mr. Gilbert and Ms. Blanchard presented a PowerPoint presentation which included the following:
Timeline for the audit of the years ended September 30, 2022 and 2021; Roles and Responsibilities of SVCE management and the auditor; Overview of audit communications;
Planned risk assessment procedures; and
Planned audit procedures, which will include a new Single Audit requirement In FY 22 due to expending over $750k of federal funds.
Mr. Gilbert, Ms. Blanchard, and SVCE staff responded to committee member questions regarding the audit.
Chair Mekechuk commented on accounts receivable and the allowance for doubtful accounts was an area of concern, and requested the auditors take a close look, in addition to ensuring that they anticipate the information technology audit in their audit plan.
Chair Mekechuk opened public comment.
No speakers.
Chair Mekechuk closed public comment.
Committee/Staff Remarks
Chair Mekechuk commented the Audit Committee in the past authorized the Chair to ensure that the auditor knew that there was an open line of communication with the Chair of the Audit Committee that would not go through management to maintain independence.
CFO and Director of Administrative Services Singh confirmed that staff has asked the auditors to put a meeting with the Chair on their timetable before the Audit Committee meets to accept the audit results.
Adjournment
Chair Mekechuk adjourned the meeting at 11:39 a.m.
ATTEST:
_____________________________
Andrea Pizano, Board Secretary
DocuSign Envelope ID: 946CC084-9568-4189-BFFD-42F771F602D1