The board discussed and took action on several key financial and administrative items. Major topics included the approval of a fiscal year 2027 budget amendment, which increases the authorized Operating Reserve Fund withdrawal to fund an increased temporary customer rate credit, and the selection of Heidrick & Struggles International, Inc. for CEO search services. Additionally, the board reviewed governance assessment findings, discussed potential options for board size, and received updates on financial audit results and staff matters. The meeting also included actions related to the rejection of government claims and the appointment of an interim Chief Executive Officer.
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The committee meeting focused on financial and budgetary updates. Key discussion items included the review of Fiscal Year End 2026 budget results, power supply variance, and the ratification of line item variances. The committee also considered a proposed budget amendment for Fiscal Year End 2027, which includes increasing the Operating Reserve Fund withdrawal to fund an enhanced temporary rate credit for customers from November 2026 through March 2027. Additionally, the meeting covered updates to the presentation and application of contingency funds and reviewed various program budgets, including transportation electrification and energy storage initiatives.
Sep 24, 2026·Board meeting
Mce Board Of Directors Board And Committee Recap
The document summarizes actions taken across various MCE meetings, including the Finance Committee, Board of Directors, Executive Committee, and Technical Committee. Key actions included the approval of an FYE 2027 Budget Amendment, updates to the Investment Policy, acceptance of the 2025 Power Source Disclosure Attestation, and the selection of a recruitment firm for a new CEO. The Board also appointed an Interim CEO, rejected government claims, and authorized defense against potential legal actions. Additionally, the Technical Committee approved an EEI Master Agreement and Collateral with JP Morgan Ventures Energy Corporation, and the Executive Committee approved an amendment to the Energy Management Program.
Sep 17, 2026·Board meeting agenda packet
Mce Board Of Directors Board Meeting
The Board of Directors meeting addressed several key items, including a closed session on anticipated litigation and the appointment of an interim Chief Executive Officer. Discussions and actions in the open session included board announcements, a report from the CEO, and the approval of the consent calendar. The agenda covered the proposed amendment of an investment policy, fiscal year-end budget results and variance ratifications, power source disclosure attestation, and findings from a governance assessment. Additionally, the Board received reports from the Ad Hoc CEO Search Committee and reviewed an independent financial audit.
