Angie N. Bond-Simpson

The committee reviewed audit activity and the status of the fiscal year audit plan, including completed and in-progress audits for various departments and projects. Discussions covered findings regarding the Forest Health Program of Works and the Dry Lake and Poseidon Wind Purchase Power audits. Additionally, the committee examined paid vouchers for the district and association, reviewed purchase orders and contracts exceeding one million dollars, and received a report on current events from the General Manager and Chief Executive Officer. The session also included an overview of the external audit process, engagement of independent public accountants for the upcoming fiscal year, and a report on single audit requirements and results.

The agenda focuses on an informational presentation regarding the 2024 All-Source Request for Proposals. The meeting includes several closed sessions to discuss matters relating to competitive activity, including trade secrets or confidential commercial information regarding a Power Purchase and Energy Storage Agreement with an affiliate of BrightNight Power, LLC, an Energy Storage Agreement for the Energy Dome Pilot Project, and an agreement for the sale of capacity and energy to Tucson Electric Power. The agenda also includes a report on current events by the General Manager and Chief Executive Officer.

The committee held a meeting covering several operational and informational items. Key topics included a recap of the 2024/2025 annual canal dry-up, which detailed maintenance and repair activities on both the Southside and Northside canal systems. Additionally, the committee received an informational presentation regarding the groundwater withdrawal infrastructure and the proactive management approach for the Salt River Valley Water Users' Association's supply system. The meeting also included a report on current events by the General Manager and Chief Executive Officer.

The Compensation Committee meeting addressed the investment performance of the SRP Employees' Retirement Plan and the SRP Employees' 401(k) Plan, featuring an investment manager presentation by Causeway Capital Management LLC. The Committee discussed current portfolio positioning, market outlook, and performance analysis. Additionally, the agenda included a request to close the Managed Accounts feature within the 401(k) Plan and a report on current events provided by the General Manager and Chief Executive Officer.

The meeting agenda included recognition of Service Awards for various lengths of service, reports from Council Committee Chairs and Liaisons, and an informational presentation on the recovery level of the Fuel and Purchased Power Adjustment Mechanism (FPPAM). Key discussions also involved the national and local economic outlook, focusing on the labor market, consumer spending, inflation, and economic development pipeline forecasts. Furthermore, reports were scheduled on the Power System, Finance and Information Services, and Water Stewardship. The safety minute focused on SRP's Electrical Safety Workshop.