1 • Subtitle
New SV Clean Energy
PowerPoint Template
Overview of Audit Committee Role
Amrit Singh
Audit Committee
March 03, 2026
Item 3
PRESENTATION
2 Welcome
2026 Audit Committee Members
Jessie Kim
City of Los Altos
Dir. Bryan Mekechuk,
City of Monte Sereno
Harjot Sangha
City of Gilroy
Dir. George Tyson
Los Altos Hills
Item 3
PRESENTATION
CD Welcome
2026 Audit Committee Members
Jessie Kim
City of Los Altos
Harjot Sangha
City of Gilroy
Dir. George Tyson
Los Altos Hills
Dir. Bryan Mekechuk,
City of Monte Sereno
3 Overview of Finance & Accounting
• SVCE’s Primary In -house Finance Functions
• Budgeting and Financial Forecasting
• Rate Setting
• Financial Analysis and Reporting
• Investment Management
• Reserve and Liquidity Management
• Purchasing (other than energy procurement) and Vendor Management • Energy and Enterprise Risk Management
• Accounting Services Provided by Maher Accountancy
• Maher Accountancy performs core accounting functions with oversight from SVCE • Accounts Payable and Accounts Receivable
• General Ledger Management
• Financial Statements
• Liaison between SVCE and Independent Auditor
Item 3
PRESENTATION
1 Overview of Finance & Accounting
SVCE’s Primary In-house Finance Functions
Budgeting and Financial Forecasting
Rate Setting
Financial Analysis and Reporting
Investment Management
Reserve and Liquidity Management
Purchasing (other than energy procurement) and Vendor Management Energy and Enterprise Risk Management
Accounting Services Provided by Maher Accountancy
Maher Accountancy performs core accounting functions with oversight from SVCE Accounts Payable and Accounts Receivable
General Ledger Management
Financial Statements
Liaison between SVCE and Independent Auditor 3
4 Purpose of the Committee
• Primarily to oversee the external auditors’ audit of SVCE’s financial statements
• The auditors are working on behalf of the Board to review management’s work
• The auditor will present a letter identifying any material weaknesses and deficiencies to the Board
• The Board receives the audit
• Per SVCE’s financial policy, the official financial report must be issued no later than 6 months following the fiscal year -end
Item 3
PRESENTATION
Purpose of the Committee
Primarily to oversee the external auditors’ audit of SVCE’s financial statements
The auditors are working on behalf of the Board to review management’s work
The auditor will present a letter identifying any material weaknesses and deficiencies to the Board
The Board receives the audit
Per SVCE’s financial policy, the official financial report must be issued no later than 6 months following the fiscal year-end
5 Completion of Financial Audit –
Today’s Meeting
• Discuss with the auditor:
• Any material risks and weaknesses detected in internal controls • Any restrictions placed on the auditor’s scope of the activities or access to requested information
• Any recommendations made by the independent auditor
• Review the audited financials
• Assess the performance and independence of the auditor •
• Recommend the Board accept the results of audit findings Item 3
PRESENTATION
Completion of Financial Audit -
Today’s Meeting
Discuss with the auditor:
Any material risks and weaknesses detected in internal controls Any restrictions placed on the auditor’s scope of the activities or access to requested information
Any recommendations made by the independent auditor
Review the audited financials
Assess the performance and independence of the auditor
Recommend the Board accept the results of audit findings 6 Information Technology (IT) Audits
Security Assessment
Assessment Focus - A comprehensive cybersecurity assessment that defines organizational weaknesses and vulnerabilities and helps prioritize remediation efforts with the goal of improving our Cyber Security Posture.
Results -The assessment results are reflected in a cyber score. Vulnerabilities are identified and placed on the roadmap until they are completed. Allows SVCE to make risk -based decisions about what to do with each recommendation.
• Completed in December 2025
• Next Occurrence – Full Assessment in Q4 - 2026
CPUC Mandated Audit of Customer Meter Data
• CPUC Decision 12 -08 -045
• Annual Privacy update every year, full audit every 3 years • Focus on AMI specific IT controls related to the acquisition, storage and processing of AMI (customer meter) related data
• Next Occurrence – Annual Update due April 2026, Full audit due April 2028 Item 3
PRESENTATION
CPUC Mandated Audit of Customer Meter Data
CPUC Decision 12-08-045
CD Information Technology (IT) Audits
Security Assessment
Assessment Focus - A comprehensive cybersecurity assessment that defines organizational weaknesses and vulnerabilities and helps prioritize remediation efforts with the goal of improving our Cyber Security Posture.
Results -The assessment results are reflected in a cyber score. Vulnerabilities are identified and placed on the roadmap until they are completed. Allows SVCE to make risk-based decisions about what to do with each recommendation.
Annual Privacy update every year, full audit every 3 years Focus on AMI specific IT controls related to the acquisition, storage and processing of AMI (customer meter) related data
Completed in December 2025
Next Occurrence -Full Assessment in Q4 - 2026
Next Occurrence -Annual Update due April 2026, Full audit due April 2028 6 7 Timing of Meetings
• Meets no fewer than twice annually
• Next financial audit kickoff meeting in September 2026
1. Retain or appoint an independent auditor
2. Review with the auditor the scope and planning of the audit prior to its commencement
Item 3
PRESENTATION
Meets no fewer than twice annually
CD Timing of Meetings
Next financial audit kickoff meeting in September 2026
1. Retain or appoint an independent auditor
2. Review with the auditor the scope and planning of the audit prior to its commencement
7 8
Thank you! / Questions?
Item 3
PRESENTATION
Thank you! / Questions?
8 sorren.com
Silicon Valley Clean Energy Authority
Report to the Board of Directors
March 3, 2026
Item 5
PRESENTATION
§sorren
Introduction
Kellin Gilbert, CPA
Audit Partner
17 years in public accounting and performing audits of government entities Currently working with several CCA’s throughout California Aliandra Schaffer
Engagement Supervisor
6 years in public accounting and performing audits of governments (CCA’s) Alauna Rico
Audit Supervisor
4 years in public accounting and performing audits of governments (CCA’s) Item 5
PRESENTATION
sorren
Transition to Sorren CPAs P.C.
As of May 2025, legacy Pisenti & Brinker combined practices with several other like-sized firms and rebranded as one unified firm “Sorren.” By combining resources with the strategic merger, we can make even greater investments in technology as well as our greatest assets, our people and clients.
Sorren is a new national top 50 firm and currently has twenty-three office locations and over a thousand employees.
The Santa Rosa office will continue to be the lead office for Silicon Valley Clean Energy Authority. No changes to the current engagement team, costs or timing of the services we provide to SVCE.
Item 5
PRESENTATION
sorren
Results of Current Year Audit
The audit is complete. We reported the following:
• Unmodified opinion – Based on our audit, the financial statements are materially accurate.
• No significant deficiencies or material weakness in internal control noted.
Item 5
PRESENTATION
sorren
Audit of the year ended September 30, 2025
Financial Statements
Relative Roles & Responsibilities
• Management is responsible for preparing the Financial Statements and establishing a system of internal control.
• Auditor is responsible for auditing the Financial Statements • Considering risks of material misstatement in the Financial Statements • Considering internal controls relevant to the Financial Statements • Performing tests of year-end balances based on risk assessment • Evaluating adequacy of disclosures
Item 5
PRESENTATION
sorren
Risk Assessment for the year ended
September 30, 2025
Our audit is a risk-based audit. Risk assessment procedures include:
• Gain understanding of the entity’s operating characteristics, practices, and procedures.
• Compare to our knowledge of similar entities, industry and professional guidance.
• Review procedures and controls surrounding significant transaction cycles and business processes.
Item 5
PRESENTATION
sorren
Risk Assessment for the year ended
September 30, 2025
Significant areas of focus for the audit:
• Revenue recognition
• Accounts receivable and accrued revenue
• Test a sample of customer billings
• Relate total cash received during the year to revenue • Review revenue recognition through year-end and method for determining (accrued revenue)
• Cash & Investments
• Confirmations sent to financial institutions
• Accrued Cost of Electricity
• Review subsequent bills from electricity providers and cash payments • Financial Statement Note Disclosures – Complete and without bias Item 5
PRESENTATION
sorren
Required Board Communications
• As discussed in Note 11, SVCE adopted GASB 102 and 104 which did not have a material effect on the financial statements.
• We did not propose any audit adjustments to the financial statements. • We did not identify any significant or unusual transactions or applications of accounting principles where a lack of authoritative guidance exists.
• There have been no disagreements with management concerning the scope of our audit and we have not encountered any difficulties in dealing with management during the performance of our audit.
• We issued a letter to the board dated February 23rd detailing these required communications.
Item 5
PRESENTATION
sorren
Kellin Gilbert
Partner
[email protected]
(707) 577-1511
sorren.com
Item 5
PRESENTATION
1 New SV Clean Energy
PowerPoint Template
• Subtitle
Changing the Fiscal Period to a
Calendar Year
Amrit Singh
Audit Committee
March 3, 2026
Item 6
PRESENTATION
CLEAN ENERGY
2 Main Areas of Discussion
Purpose
Action: Recommend that the Board
approve changing the fiscal period to a
calendar year, along with the proposed
transition plan
1) Current budgeting and planning
timeline and process
2)Revised timeline and process
under a calendar year fiscal period
3)Proposed transition plan
Item 6
PRESENTATION
3 Why Change the Fiscal Period?
More closely align adoption of Annual Budget with Customer Rate Changes Proposed Fiscal Period:
• Calendar Year, commencing January 1 and
ending December 31.
Benefits from the change:
• Avoids setting a budget in September and
then amending it 3 months later when there’s
more certainty on upcoming PG&E rates and
PCIA charges
• Aligns with the timeline for many external
compliance requirements and internal
planning processes
Background:
• JPA allows the Board to change the fiscal year
by resolution
• Changed once before in September 2016
• From the period July 1 - June 30 to the
current period, October 1 - September 30
• Changed to facilitate compliance with loan
covenants during SVCE’s startup, which are
no longer relevant.
Item 6
PRESENTATION
4 Current Budgeting and Planning Process and Timeline
January, February, and March
• Enterprise Risk Assessments
• Stress Tests Proposals
• Mid-year budget review and adoption
• Completion of prior year’s financial audit
May and June
• Stress test analyses
• Reserve adequacy
• Next fiscal year’s budget framework review
• Strategic plan review (biennially)
August and September
• Annual budget and strategic plan review and
feedback, and adoption one month later
November and December
• Budget adjusted to reflect updates to:
• PCIA and PG&E generation rate
forecasts
• Customer Rate Proposals
Larger timeline slide shown in the appendix
Planned Audit Committee meetings.
Item 6
PRESENTATION
January February March May June
Staff: Finance and Admin Committee: Board: Finance and Admin Committee: Board:
Executive Committee:
Audit Committee: Reviews Strategic Plan
Auaust September November December
Finance and Admin Committee: Board: Finance and Admin Committee: Board:
Audit Committee:
Kicks off theAudit
Adopts the
Adjusted
Budget and
Next year’s
Customer Rate
Proposals
Reviews and provides feedback on the Proposed
Annual Budget for the Next Fiscal Year and the
Proposed Strategic Plan
Adopts the Proposed Budget for
the Next Fiscal Year (FY26-27)
and the Strategic Plan
Reviews and recommends that the
Board adopt the ProposedAdjusted
Budget (reflecting updates to PCIA
and PG&E Gen Rate Forecasts) and
Customer Rate Proposals
Enterprise Risk
Assessments
(ERM)
Reviews Proposed FinancialStress Test
Scenarios
Reviews and Recommendsthe Mid-Year
Budget Update to the Board
Reviews Stresslest
Analyses
Optional: Reviews
Budget Framework fo
Next Fiscal Year
Adopts Mid¬
Year Budget
(FY25-26)
Receives
Audited
Financials for
the last fiscal
year. (FY24-25)
1) Reviews Stresslest Analyses
2) Reviews Budget Framework for the
Next Fiscal Year (FY26-27)
• Reviews and Recommendsthe BoardAdopt the
ProposedAnnual Budget for the Next Fiscal Year
(FY26-27)
Board:
Executive Committee
(Optional):
ReceivesAuditedFinancials for the I
fiscal year. (FY24-25)
t
5 February or March
• High-level Budget and Reserves update to
the Finance and Administration Committee
March, May, and June
• Enterprise Risk Assessments
• Stress Tests Proposals
• Mid-year budget review and adoption
• Completion of prior year’s financial audit
August and September
• Stress test analyses
• Reserve adequacy
• Next fiscal year’s budget framework review
• Strategic plan review (Biennially)
November and December
• Annual budget, strategic plan, and customer
rate proposal review by Committee(s) and
adoption by the Board in December
• Kick off the financial audit
Full timeline slide shown in the appendix
Planned Audit Committee meetings.
Key Change: The Board will not have the opportunity to
review and provide feedback on the proposed budget two
months prior to the end of the fiscal year.
Budgeting and Planning Process and Timeline
If the Fiscal Period is Changed to Calendar Year
Item 6
PRESENTATION
Late February or March March May June
Finance andAdmin Committee: Staff: Board:
Audit Committee:
September December
Finance and Admin Committee: Finance andAdmin Committee Board:
Executive Committee(Optional):
Executive Committee:
Reviews Strategic Plan Kicks off theAudit
• High-level (“Mini”) Budget & Reserves
Update (Revenues and Power Supply
Updated)
Receives Audited Financials for the last
fiscal year.
• Reviews and Recommendsthat the
BoardAdopt the ProposedAnnual Budget
and Customer Rate Proposals
Adopts Mid-Year
Budget
Receives Audited
Financials for the
last fiscal year.
Enterprise Risk
Assessments
(ERM)
• Reviews Stress lest Analyses
• Optional: Reviews Budget
Framework for Next Fiscal Year
• Reviews Stresslest Analyses
• Reviews Budget Framework for the
Next Fiscal Year
Late November
Finance andAdmin Committee:
• Reviews Proposed FinancialStress lest Scenarios
• Reviews and Recommendsthe Mid-Year Budget
Update to the Board
Board:
• Adopts the Proposed
Budget, Strategic Plan, and
Next Year’s Customer Rate
Proposals
Audit Committee:
6 Requires a Transition Period
Staff proposes to transition to a calendar fiscal period starting January 1, 2027
1. Need an interim 3-month transition fiscal
period, stub fiscal period, from October 2026 to
December 2026
2. Board sets the budget for the interim 3-month
fiscal period in September 2026
3. Board sets the budget for the new 12-month,
calendar-year fiscal period in December 2026
4. Board allows the auditor to perform a
combined, two-period audit covering:
• The 3-month stub period (October 2026 to
December 2026)
• The first full calendar year (1/1/27 to 12/31/2027) Full timeline slides are shown in the appendix Item 6
PRESENTATION
January 2026 February 2026 March 2026 May 2026 June 2026 Finance and Admin Committee: Board:
Audit Committee:
2026 September 2026 November 2026 December 2026
Receives AuditedFinancials for the last
fiscal year. (FY24-25)
Reviews Stresslest
Analyses
Optional: Reviews
Budget Framework foi
Next Fiscal Year
• Reviews Proposed FinancialStresslest
Scenarios
• Reviews and Recommends the Mid-Year
Budget Update to the Board Executive Committee:
Reviews Strategic Plan
Finance and Admin Committee:
1) Reviews Stress lest Analyses
2) Reviews Budget Framework for the
Next Fiscal Year (FY26-27)
Staff:
• Enterprise Risk
Assessments
(ERM)
Board:
• Adopts Mid¬
Year Budget
(FY25-26)
• Receives
Audited
Financials for
the last fiscal
year. (FY24-25)
Finance and Admin Committee:
• Reviews and recommends that the Board adopt the
Proposed Budget for October 2026 to December
2026, a 3-month stub fiscal period budget
Board:
• Adopts the Proposed 3-month
Stub Period Budget
Audit Committee:
• Kicks off theAudit for Fiscal
Year 25-26
Finance and Admin Committee:
Executive Committee
(Optional):
• Reviews and recommends that the
Board adopt the Proposed Budget
for Calendar Fiscal Year 2027 and
Customer Rate Proposals
Board:
• Adopts the
Proposed Budget
for Calendar
Fiscal Year 2027
Strategic Plan, and
2027 Customer
Rate Proposals
February 2027
Audit Committee:
ReceivesAudited Financials for the fiscal
year ending September 30, 2026 (October
2025 to September 2026)
December 2027
Audit Committee:
Audit kick-off for the fiscal year ending
December 31, 2027 (January 2027 to
December 2027) and Stub Period
(October 2026 to December 2026)
7 Recommendation
Recommend that the Board of Directors approve:
1. Changing SVCE’s fiscal period to a Calendar Year (January 1 to December 31), beginning January 1, 2027
2. Establishing an interim 3-month stub fiscal period, starting October 1, 2026, and ending December 31, 2026, and adopting a schedule to approve the stub period budget at the September 2026 Board meeting
3. Authorizing a combined two-period audit covering the 3-month sub-period, along with the first audit of the new fiscal year
Item 6
PRESENTATION
8 Thank you! / Questions?
Item 6
PRESENTATION
9 SVCE’s Budgeting & Planning Process
SVCE Mission: Reduce dependence on fossil fuels by
providing carbon-free, affordable, and reliable electricity and innovative programs for the SVCE community.
Comprehensive assessment of risks and
opportunities to optimally achieve mission
Organization-wide priorities and
alignment toward achieving the mission
Funding in alignment with achieving
the strategic focus areas
Budget
Strategic Focus
Areas
Enterprise Risk
Management
Item 6
PRESENTATION
10 Current Budgeting and Planning Process and Timeline
December
Board:
• Adopts the
Adjusted
Budget and
Next year’s
Customer Rate
Proposals
Board:
• Reviews Stress Test
Analyses
• Optional: Reviews
Budget Framework for
Next Fiscal Year
Board:
• Adopts the Proposed Budget for
the Next Fiscal Year (FY26-27)
and the Strategic Plan
Finance and Admin Committee:
Executive Committee
(Optional):
• Reviews and recommends that the
Board adopt the Proposed Adjusted
Budget (reflecting updates to PCIA
and PG&E Gen Rate Forecasts) and
Customer Rate Proposals
Board:
• Adopts Mid-Year Budget
(FY25-26)
• Receives
Audited
Financials for
the last fiscal
year. (FY24-25)
January February
Staff:
• Enterprise Risk
Assessments
(ERM)
Finance and Admin Committee:
• Reviews Proposed Financial Stress Test
Scenarios
• Reviews and Recommends the Mid-Year
Budget Update to the Board
May
Finance and Admin Committee:
• Reviews and Recommends the Board Adopt the
Proposed Annual Budget for the Next Fiscal Year
(FY26-27)
Finance and Admin Committee:
1) Reviews Stress Test Analyses
2) Reviews Budget Framework for the
Next Fiscal Year (FY26-27)
June
September
Executive Committee:
Reviews Strategic Plan
August November
Audit Committee:
• Receives Audited Financials for the last
fiscal year. (FY24-25)
March
Audit Committee:
• Kicks off the Audit
Board:
• Reviews and provides feedback on the Proposed
Annual Budget for the Next Fiscal Year and the
Proposed Strategic Plan
Item 6
PRESENTATION
11 Budgeting and Planning Process and Timeline
If Fiscal Period Changed to Calendar Year
Board:
• Reviews the Proposed Strategic Plan
Board:
• Adopts the Proposed
Budget, Strategic Plan, and
Next Year’s Customer Rate
Proposals
August December
March
Board:
• Adopts Mid-Year
Budget
• Receives Audited
Financials for the
last fiscal year.
Board:
• Reviews Stress Test Analyses
• Optional: Reviews Budget
Framework for Next Fiscal Year
Finance and Admin Committee
Executive Committee (Optional):
• Reviews and Recommends that the
Board Adopt the Proposed Annual Budget
and Customer Rate Proposals
Staff:
Enterprise Risk
Assessments
(ERM)
Late February or March
Finance and Admin Committee:
• High-level (“Mini”) Budget & Reserves
Update (Revenues and Power Supply
Updated)
May
Finance and Admin Committee:
• Reviews Stress Test Analyses
• Reviews Budget Framework for the
Next Fiscal Year
Finance and Admin Committee:
• Reviews Proposed Financial Stress Test Scenarios
• Reviews and Recommends the Mid-Year Budget
Update to the Board
June
September Late November
Audit Committee:
• Receives Audited Financials for the last
fiscal year.
Audit Committee:
• Kicks off the Audit
Executive Committee:
• Reviews Strategic Plan
Item 6
PRESENTATION
12 Transition Timeline and Plan
New Fiscal Period Starts January 1, 2027
December 2026
Board:
• Adopts the
Proposed Budget
for Calendar
Fiscal Year 2027,
Strategic Plan, and
2027 Customer
Rate Proposals
Board:
• Reviews Stress Test
Analyses
• Optional: Reviews
Budget Framework for
Next Fiscal Year
Board:
• Adopts the Proposed 3-month
Stub Period Budget
Finance and Admin
Committee:
Executive Committee
(Optional):
• Reviews and recommends that the
Board adopt the Proposed Budget
for Calendar Fiscal Year 2027 and
Customer Rate Proposals
Board:
• Adopts Mid-Year Budget
(FY25-26)
• Receives
Audited
Financials for
the last fiscal
year. (FY24-25)
January 2026 February 2026
Staff:
• Enterprise Risk
Assessments
(ERM)
Finance and Admin Committee:
• Reviews Proposed Financial Stress Test
Scenarios
• Reviews and Recommends the Mid-Year
Budget Update to the Board
May 2026
Finance and Admin Committee:
• Reviews and recommends that the Board adopt the
Proposed Budget for October 2026 to December
2026, a 3-month stub fiscal period budget.
Finance and Admin Committee:
1) Reviews Stress Test Analyses
2) Reviews Budget Framework for the
Next Fiscal Year (FY26-27)
June 2026
September 2026
Executive Committee:
Reviews Strategic Plan
August 2026 November 2026
Audit Committee:
• Receives Audited Financials for the last
fiscal year. (FY24-25)
March 2026
Audit Committee:
• Kicks off the Audit for Fiscal
Year 25-26
Item 6
PRESENTATION
13 Transition Timeline and Plan - Continued
New Fiscal Period Starts January 1, 2027
February 2027 December 2027
Audit Committee:
Receives Audited Financials for the fiscal
year ending September 30, 2026 (October
2025 to September 2026)
Audit Committee:
Audit kick-off for the fiscal year ending
December 31, 2027 (January 2027 to
December 2027) and Stub Period
(October 2026 to December 2026)
• Starting in 2028, the
February Audit
Committee will move
to May
• September Audit
Committee moves to
December
~August 2027*
Audit Committee:
Selects a new auditor
* An additional Audit Committee meeting in 2027 to select a new auditor is not because of the change to a new fiscal period.
SVCE’s policies require selecting a new auditor every 5 years. The proposed period is tentative; the new auditor needs to be selected before December 2027, the kick-off of the new audit.
Item 6
PRESENTATION
• Subtitle
New SV Clean Energy
PowerPoint Template
Cybersecurity Update
Brett Sirianni
Audit Committee | March 2026
Item 7
PRESENTATION
2 Purpose
Main Areas of Discussion
1. Overview of current
cybersecurity posture
2. Update on security incidents
3. Update on department changes
Provide an update on SVCE's
Cybersecurity posture
Item 7
PRESENTATION
3 What is Cybersecurity?
• Cybersecurity is protecting systems, networks, and digital information from unauthorized access, theft, or damage by minimizing the likelihood and impact of detrimental events related to company infrastructure and data.
• A cybersecurity program does not guarantee infrastructure or data will never be compromised, nor does it guarantee the prevention of a security incident.
• Key Takeaways:
• An effective cybersecurity program includes people,
processes, and technology solutions to reduce the risk of business disruption, data theft, financial loss, and
reputational damage from an attack.
• It is not a question of if there will be a security incident; it's whether or not we are prepared when it occurs.
Need
Help?
Item 7
PRESENTATION
4 Audit and Assessments
SVCE regularly engages in various technology audits and assessments
SECURITY
Table-top Exercises
Assessments
Audits
Tests
CPUC MANDATED
Advanced Metering Infrastructure
(AMI) Annual Data Privacy Report
Advanced Metering Infrastructure
(AMI) Triennial Audit
Item 7
PRESENTATION
5 Security Training
SVCE engages in numerous forms of training on the subject of security. • New Hire Training
• All new hires receive training from a member of the IT team before they are given access. • Ongoing Training
• All employees are required to engage in monthly security training. • Executive Training
• The Senior Leadership Team receives security training on high level topics at least annually. • Admin Training
• All employees with admin/privileged access receive additional training on best practices and security concerns.
• Ad-hoc Training
• Ad-hoc training is conducted when deemed appropriate to address current or upcoming issues or changes.
Item 7
PRESENTATION
6 Security Assessment Current Results
Current Security Score: 775
What does the score actually mean?
• The score is based on a range from 300 to 850. The lower the score, the higher the risk. – Think of it like a credit score. • It uses industry standards based on the NIST and ISO frameworks along with other proprietary metrics established by the vendor conducting the assessment.
• It enables SVCE to succinctly communicate the organization's overall security posture by combining the various aspects of the assessment into a single data point.
In simple terms, the resulting score is a representation of the risks assigned to the following areas:
Administrative controls (people, governance, policy)
Physical controls (facility security, location, hardcopy documents) Internal controls (behind the firewall)
External controls (protection from outside access)
Item 7
PRESENTATION
7 Security Incidents
Major security incidents since last
meeting:
0 Security Incident Levels:
• Tier 1: Critical
• Tier 2: Moderate
• Tier 3: Limited
Item 7
PRESENTATION
8 IT Department Updates
• New Hire and Position Changes
• Blake VandeVelde was hired as the new Manager of Information Technology. • Brett Sirianni was transitioned into the position of Information Security Manager.
Item 7
PRESENTATION
9 What to Expect at the Next Meeting
What to expect at the next meeting:
• Update on cybersecurity posture and security score
• Update on any new cyber security incidents
Item 7
PRESENTATION
10 Questions?
Item 7
PRESENTATION