Pursuant to the Americans with Disabilities Act, if you need special assistance in this meeting, please contact the Clerk for the Authority at (408) 721-5301 x1005. Notification 48 hours prior to the meeting will enable the Authority to make reasonable arrangements to ensure accessibility to this meeting. (28 CFR 35.105 ADA Title II).
Tina Walia, Chair
City of Saratoga
George Tyson, Vice Chair
Town of Los Altos Hills
Elliot Scozzola
City of Campbell
Sheila Mohan
City of Cupertino
Zach Hilton
City of Gilroy
Sally Meadows
City of Los Altos
Rob Rennie
Town of Los Gatos
Evelyn Chua
City of Milpitas
Bryan Mekechuk
City of Monte Sereno
Yvonne Martinez Beltran
City of Morgan Hill
Pat Showalter
City of Mountain View
Larry Klein
City of Sunnyvale
Otto Lee
County of Santa Clara
svcleanenergy.org
333 W El Camino Real
Suite 330
Sunnyvale, CA 94087
Silicon Valley Clean Energy
Audit Committee Meeting
Monday, October 21, 2024
1:00 pm
Silicon Valley Clean Energy Office
333 W. El Camino Real, Suite 330
Sunnyvale, CA
City of Gilroy City Hall
7351 Rosanna Street
Gilroy, CA 95020
Teleconference Meeting Information:
https://svcleanenergy-org.zoom.us/j/89512160233
Or by Telephone (Audio only):
US: +1 669 219-2599
Webinar ID: 895 1216 0233
Members of the public may observe this meeting electronically by accessing the meeting via instructions above. Public Comments can be sent in advance of the meeting via email up to three hours before the meeting begins to Board Clerk Andrea Pizano at [email protected] and will be distributed to the Audit Committee. The public will also have an opportunity to provide comments during the meeting. Members of the public using Zoom may comment during public comment or the applicable agenda item by using the Raise Hand feature and you will be recognized by the Chair. Those using the telephone (audio only) feature should press star 9 on your phones to initiate the “Raise Hand” function in Zoom. You will then be announced, unmuted, and your time to speak will begin.
The public may provide comments on any matter listed on the Agenda. Speakers are customarily limited to 3 minutes each, however, the Committee Chair may increase or decrease the time allotted to each speaker based on the number of speakers, the length of the agenda and the complexity of the subject matter. Speaking time will not be decreased to less than one minute.
If you are an individual with a disability and need a reasonable modification or accommodation pursuant to the Americans with Disabilities Act (“ADA”) please contact Board Clerk Andrea Pizano at [email protected] prior to the meeting for assistance.
AGENDA
Call to Order
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Pursuant to the Americans with Disabilities Act, if you need special assistance in this meeting, please contact the Clerk for the Authority at (408) 721-5301 x1005. Notification 48 hours prior to the meeting will enable the Authority to make reasonable arrangements to ensure accessibility to this meeting. (28 CFR 35.105 ADA Title II).
Tina Walia, Chair
City of Saratoga
George Tyson, Vice Chair
Town of Los Altos Hills
Elliot Scozzola
City of Campbell
Sheila Mohan
City of Cupertino
Zach Hilton
City of Gilroy
Sally Meadows
City of Los Altos
Rob Rennie
Town of Los Gatos
Evelyn Chua
City of Milpitas
Bryan Mekechuk
City of Monte Sereno
Yvonne Martinez Beltran
City of Morgan Hill
Pat Showalter
City of Mountain View
Larry Klein
City of Sunnyvale
Otto Lee
County of Santa Clara
svcleanenergy.org
333 W El Camino Real
Suite 330
Sunnyvale, CA 94087
Roll Call
Public Comment on Matters Not Listed on the Agenda
The public may provide comments on any matter not listed on the Agenda provided that it is within the subject matter jurisdiction of SVCE. Speakers are customarily limited to 3 minutes each, however, the Committee Chair may increase or decrease the time allotted to each speaker based on the number of speakers, the length of the agenda and the complexity of the subject matter. Speaking time will not be decreased to less than one minute.
Consent Calendar (Action)
1) Approve Minutes of the February 29, 2024, Audit Committee Meeting Regular Calendar
2) SVCE Financial Audit Kick-off: Pisenti & Brinker, LLP (Discussion) 3) SVCE Policy Review Update (Discussion)
Committee/Staff Remarks
Public Comment on Closed Session
Closed Session
THREAT TO PUBLIC SERVICES OR FACILITIES
Consultation with: Amrit Singh, Chief Financial Officer and Director of Administrative Services, Nik Zanotto, Senior Manager of IT and Administrative Services Report from Closed Session
Adjourn
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Silicon Valley Clean Energy
Audit Committee Meeting
Thursday, February 29, 2024
1:00 p.m.
Silicon Valley Clean Energy Office
333 W. El Camino Real, Suite 330
Sunnyvale, CA
City of Gilroy City Hall
7351 Rosanna Street
Gilroy, CA 95020
DRAFT MEETING MINUTES
Call to Order
Chair Mekechuk called the meeting to order at 1:04 p.m.
Roll Call
Present:
Bryan Mekechuk (Chair), Monte Sereno
Sheila Mohan (Vice Chair), Cupertino
Sergio Lopez, Campbell
Harjot Sangha, Gilroy (Participated remotely)
Absent:
None
Public Comment on Matters Not Listed on the Agenda
No speakers.
Consent Calendar
MOTION: Director Mohan moved and Alternate Director Lopez 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. 1) Approve Minutes of the September 19, 2023, Audit Committee Meeting Item 1 SVCE Audit Comm. February 29, 2024 Minutes
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Regular Calendar
2) Welcome and Audit Committee Overview (Discussion)
Amrit Singh, CFO and Director of Administrative Services, provided information on the Audit Committee, including:
• An overview of SVCE’s finance functions and accounting services provided by Maher Accountancy; • The purpose of the Audit Committee;
• Process for reviewing the audited financials with the auditor; • An overview of SVCE’s IT audits; and
• Meeting timing.
Staff responded to questions and comments regarding investment management, energy and enterprise risk management, and SVCE’s financial reserves policy.
Chair Mekechuk opened public comment.
No speakers.
Chair Mekechuk closed public comment.
3) Selection of 2024 SVCE Audit Committee Chair and Vice Chair (Action) Sr. Executive Assistant and Board Clerk Andrea Pizano presented the item and the process for selecting the Chair and Vice Chair of the Audit Committee.
Director Mekechuk expressed interest in serving as Chair of the 2024 Audit Committee.
MOTION: Director Mohan moved and Alternate Director Lopez seconded the motion to nominate Director Bryan Mekechuk to serve as Chair of SVCE’s 2024 Audit Committee.
Chair Mekechuk opened public comment.
No speakers.
Chair Mekechuk closed public comment.
The motion carried unanimously by verbal roll call vote.
Following Chair Mekechuk’s appointment as Chair, the Audit Committee proceeded with identifying a Vice Chair.
Director Mohan expressed interest in serving as Vice Chair of the 2024 Audit Committee.
MOTION: Alternate Director Lopez moved and Committee member Sangha seconded the motion to nominate Director Sheila Mohan to serve as Vice Chair of SVCE’s 2024 Audit Committee.
Chair Mekechuk opened public comment.
No speakers.
Chair Mekechuk closed public comment.
The motion carried unanimously by verbal roll call vote.
Item 1 SVCE Audit Comm. February 29, 2024 Minutes
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4) Receive Financial Audit Report from Pisenti & Brinker, LLP and Recommend the SVCE Board of Directors Accept the Audit Findings (Action)
CFO and Director of Administrative Services Singh introduced Pisenti & Brinker LLP’s Kellin Gilbert, lead Audit Partner, and Aliandra Schaffer, Engagement Supervisor. Mr. Gilbert provided a presentation that included the following:
• Results of current year audit, with SVCE receiving a “clean” audit opinion; • Roles and responsibilities of management and the auditor; • Review of risk assessment procedures;
• An overview of audit procedures; and
• Required Board Communications.
Mr. Gilbert and SVCE staff responded to committee member questions and comments regarding the comparison of SVCE’s processes to other CCAs, audited financial statement filing requirements, confirmation that the auditors are independent of SVCE, the auditor opinion and relationship between the financial statements and the management discussion and analysis, and the auditor’s opinion relative to internal controls.
Chair Mekechuk opened public comment.
No speakers.
Chair Mekechuk closed public comment.
MOTION: Committee member Sangha moved and Alternate Director Lopez seconded the motion to receive the financial audit report and recommend the SVCE Board of Directors accept the audit findings from Pisenti & Brinker LLP.
5) IT/Cybersecurity Assessment Update (Discussion)
Nik Zanotto, Senior Manager of IT and Administrative Services, presented an update on SVCE’s IT and cybersecurity assessment to the committee which included the following:
• Information on the 2022 Security Assessment scorecard; • What staff have done, are currently doing, and what will be done to improve SVCE’s cybersecurity posture score;
• Overview of the four technology audits/assessments; and • Next steps for updating the Audit Committee on progress.
Staff responded to committee member questions regarding remediation, steps to improve SVCE’s score, the four category scores, a suggestion to hold a Closed Session to discuss cybersecurity, the Advanced Metering Infrastructure (AMI) audit and data sharing, artificial intelligence, SVCE’s cybersecurity in relation to other CCAs and their objectives, if there have been any cybersecurity breaches in other CCAs, and clarification on the reference to ‘relative to industry’ mentioned in the presentation.
Chair Mekechuk opened public comment.
No speakers.
Chair Mekechuk closed public comment.
Item 1 SVCE Audit Comm. February 29, 2024 Minutes
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Committee/Staff Remarks
Alternate Director Lopez welcomed COO Monica Padilla and congratulated her on her appointment as CEO beginning in April 2024. COO Padilla provided brief comments.
Adjournment
Chair Mekechuk adjourned the meeting at 2:20 p.m.
ATTEST:
_____________________________
Andrea Pizano, Board Secretary
Item 1 SVCE Audit Comm. February 29, 2024 Minutes
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Staff Report – Item 2
Item 2: SVCE Financial Audit Kick-off: Pisenti & Brinker, LLP From: Amrit Singh, CFO and Director of Administrative Services Prepared by: Andrea Pizano, Sr. Executive Assistant and Board Clerk Date: 10/21/2024
This item will be addressed in the form of a presentation by the financial auditors, Pisenti & Brinker LLP.
ATTACHMENT
The presentation for this item is posted to the SVCE website.
Item 2
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Staff Report – Item 3
Item 3: SVCE Policy Review Update
From: Amrit Singh, CFO and Director of Administrative Services Prepared by: Andrea Pizano, Sr. Executive Assistant and Board Clerk Date: 10/21/2024
Item 3
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This item will be addressed in the form of a report from General Counsel Mike Callahan.