AGENDA FOR FALL 2017 CONFERENCE. September 10-14, 2017

Transcription

1 AGENDA FOR FALL 2017 CONFERENCE September 10-14, 2017 Wyndham Springfield City Centre 700 East Adams Street, Springfield, IL A special THANK YOU to all of our speakers and their companies supporting this conference. SUNDAY PM, September 10, 2017 CLOSED SESSION Rendezvous Room (Mezzanine Floor) 7:00 p.m. (up to 2 hrs) (A) Special Presentation FASB Insight Nicholas Cappiello, CPA, Supervising Project Manager, Financial Accounting Standards Board (FASB) (Open to All State and Federal Regulatory Personnel) Don t forget to pick up a speaker evaluation form. The speaker evaluation forms are required for our CPE sponsor/registry and it is important that everyone fill out the form throughout the conference. Thank you! MONDAY AM, September 11, 2017 OPEN SESSION Ambassador Ballroom (Concourse level) 7:00 a.m. Late Registration/Continental Breakfast 8:00 a.m. (1) Welcome and Introductory Remarks (15 min) Acting Commissioner Sadzi Oliva (Illinois Commerce Commission) 8:15 a.m. (2) Financial Accounting Standards Board (FASB) Update Nicholas Cappiello, CPA, Supervising Project Manager (FASB) OUR THANKS TO THE AMERICAN GAS ASSOCIATION FOR SPONSORING 9:15 a.m. 10:15 a.m. BREAK 10:30 a.m. 11:30 a.m. THE TRAVEL COSTS OF OUR FASB SPEAKER! (3) Coal-Fired Generation: Abandonment and Depreciation Caroline Garcia, CPA, Audit Partner (KPMG LLP) (4) New Revenue Recognition Standards Julie Petit,CPA, Senior Partner (Mazars USA LLP) Brian Jones, CPA, Senior Manager (Mazars USA LLP) (5) Effective Testimony Azeema Akram, Esq., Legal & Policy Advisor to Acting Commissioner Oliva (IL Commerce Commission) - Moderator Acting Commissioner Sadzi Oliva, Esq. (IL Commerce Commission) Randall Eric Robertson, Esq., Partner (Lueders, Robertson and Konzen, LLC) Matthew Harvey, Esq., Office of General Counsel (IL Commerce Commission) 12:30 pm LUNCH BREAK / Return CPE forms MONDAY PM, September 11, 2017 OPEN SESSION Ambassador Ballroom (Concourse level) 2:00 p.m. (6) Regulatory Treatment of Cloud Computing (90 min) Former Legal & Policy Advisor to Chairman Sheahan, Meagan Pagels, Esq. Moderator, (IL Commerce Commission) Angela Nagy, CPA, Executive Director of Financial Accounting Advisory Services (Ernst &Young) Dr. David Loomis, PhD, Professor of Economics & Executive Director of Institute of Regulatory Policy Studies (Illinois State University) Danny Waggoner, MA, Manager of Regulatory Transformation (Advanced Energy Economy) Richard Caperton, MBA, Director of National Policy and Regulatory Affairs (Oracle) 3:30 p.m. BREAK

2 3:45 p.m. (90 min) (7) Cost of Equity: Impacts of Rate Decoupling Mechanisms and Other Riders Toby Shea, MA, Vice President Senior Credit Officer (Moody s Investor s Service), Rochelle Phipps, MBA, Senior Financial Analyst (IL Commerce Commission) David Murray, Utility Regulatory Manager of the Financial Analysis Unit (MO Public Service Commission) 5:15 p.m. BREAK FOR EVENING / Return CPE Forms 6:00 p.m. Edison Electric Institute Sponsored Reception Wyndham City Centre at Vista 1 (29 th floor) OUR THANKS TO EEI FOR ITS CONTINUED SUPPORT. TUESDAY AM, September 12, 2017 OPEN SESSION Ambassador Ballroom (Concourse level) 7:00 a.m. Continental Breakfast 8:00 a.m. (8) Rural Utilities Service Update Diana Alger, CPA, Chief, Technical Accounting & Auditing Staff, Rural Utilities 9:00 a.m. 10:00 a.m. BREAK 10:15 a.m. 11:15 a.m. Service (US Department of Agriculture) (9) FERC Update Steve Hunt, CPA, Deputy Chief Accountant (FERC) Jim Yu, CPA, Accountant (FERC) (10) Alternative Rate Designs - Revenue Decoupling, SFV, Demand Charge for Residential Customers, Rate Design for Distributed Generation Azeema Akram, Esq., Legal & Policy Advisor to Acting Commissioner Oliva (IL Commerce Commission) - Moderator Dr. Karl McDermott, PhD, Professor & former ICC Commissioner (University of IL at Springfield) Scott Struck, CPA, Asst. Director of Financial Analysis (IL Commerce Commission) (11) Formula Rates: Illinois and Other States Joy Nicdao-Cuyugan, MBA, Director of Financial Analysis (IL Commerce Commission) Rickard W. Bridal II, CPA, Accountant (IL Commerce Commission) 12:15 p.m. LUNCH BREAK / Return CPE forms TUESDAY PM, September 12, 2017 OPEN SESSION Ambassador Ballroom (Concourse level) 1:45 p.m. (12) How Co-ops Are Evolving in This Day and Age Bob Hance, President/CEO (Midwest Co-Op) 2:45 p.m. (13) Smart Cities and Micro Grids: Development, Impact & Cost Gerardo Delgado, Esq., Legal & Policy Advisor to Acting Commissioner Oliva (IL Commerce Commission) - Moderator Tamer Rousan, MSEE, Supervising Engineer of Distribution Automation Technology (Ameren Illinois) Dr. David Loomis, PhD, Professor of Economics & Executive Director of Institute of Regulatory Policy Studies (Illinois State University) Susan Satter, Esq., Public Utilities Counsel (Office of the IL Attorney General) 3:45 p.m. BREAK 4:00 p.m. (14) New Technologies Driving Transition to a Circular Economy and Transforming the Wastewater Industry Robert (Bob) Wilson, CPA, CFO (Industrial Waste Elimination, Inc.) Robert Littmann, P.E., CEO (Industrial Waste Elimination, Inc.) 5:00 p.m. BREAK FOR EVENING / Return CPE Forms

3 WEDNESDAY AM, September 13, 2017 OPEN SESSION Ambassador Ballroom (Concourse lvl) 7:00 a.m. Continental Breakfast 8:00 a.m. (15) Update on Federal Tax Reform Jim Gould, Principal (Ogilvy Government Relations) 9:00 a.m. (16) Updating USoA for Water Companies Rebecca Burleigh, CPA, Senior Manager, Accting & Rpting, (EPCOR Water) Dolores Midkiff-Powell, CPA, Manager, Act 304 Reconc Section (MI PSC) Cheryl Bulecza-Banks, CPA, Assistant Director (FL PSC) 10:00 a.m. BREAK 10:15 a.m. (17) Taxes 11:15 a.m. Sal Montalbano, Partner, National Power & Utilities Sector (PwC) (18) Gas Infrastructure Replacement Programs Joe Christian, Director Rates & Regulatory Affairs (Atmos Energy Corporation) - Moderator Stavros Bezas, Manager Gas Operations (DTE Energy) Mary Palkovich, Vice President, Gas Engineering and Supply (CMS Energy) 12:15 p.m. LUNCH BREAK / Return CPE forms 1:45 p.m. (19) Pension David Pitts, FSA (Independent Actuarial Services) WEDNESDAY PM, September 13, 2017 CLOSED SESSION REGULATORY AND CONSUMER ADVOCATE OFFICE REPRESENTATIVES ONLY 3:00 p.m. BREAK 3:15 p.m. (20) Introduction of Attendees Approval of Minutes Dolores Midkiff-Powell, CPA, Manager, Act 304 Reconciliation Section (MI PSC) Locations for Site Selection Fall 2018 North West U.S. Cheryl Bulecza-Banks, CPA, Assistant Director (FL PSC) Agenda Topic Suggestions for Spring 2018 Conference Poll Questions Dolores Midkiff-Powell, CPA, Manager, Act 304 Reconciliation Section (MI PSC) 5:00 p.m. BREAK FOR EVENING / Return CPE Forms 6:30 p.m. Wednesday Night Dinner - Wyndham City Centre 29 th Floor at Vista 1 THURSDAY AM, September 14, 2017 CLOSED SESSION REGULATORY AND CONSUMER ADVOCATE OFFICE REPRESENTATIVES ONLY 7:00 a.m. Continental Breakfast 8:00 a.m. (21) Washington Legislative Update Chris Mele, Legislative Director, Energy (NARUC) 9:00 a.m. (22) Tax reform impact on regulated utilities Tim Zeldenrust, Vice President Strategic Consulting (PowerPlan) 10:00 a.m. BREAK 10:15 a.m. (23) Hot Issues Before the Illinois Commission: New Law on Energy Efficiency & Renewables and the NextGrid Dr. James Zolnierek, PhD, Bureau Chief of Public Utilities (IL Commerce Commission) Gerardo Delgado, Esq., Legal & Policy Advisor to Acting Commissioner Oliva (IL Commerce Commission) 11:15 a.m. (24) Question and Answer Section This is an opportunity to ask questions of your fellow state and federal regulators. Please bring with you any items that you wish to ask or items that might be of special interest to the group. 12:15 p.m. ADJOURN / Return CPE forms and Speaker Evaluation Forms

4 UPCOMING CONFERENCE: SPRING 2018 Southest Fairfield Inn & Suites Savannah Downtown/Historic District Savannah, Georgia March 3 9, 2018 LEARNING OBJECTIVES: After completion of this conference you will be able to: Identify how standard setting at the FASB is done. Identify the current accounting initiatives, standards and projects at FASB relevant to utilities. Understanding the depreciation in utility assets. Recognize the new pension rules for regulatory companies. Understand how negative capital is possible with regulatory companies. Identify how to deal with negative capital. Identify the current accounting issues at FERC. Recognize possible corporate tax reform proposals. Understand how to prepare an effective testimony. Understand regulatory treatment of cloud computing related to regulatory companies. Identify the characteristics of programs funded by the Rural Utilities Service. Understand the cost of equity, the impacts it has on rate decoupling mechanisms and other riders for regulatory companies. Identify U.S. legislative issues relevant to utilities and regulators. Identify the characteristics of programs funded by the Rural Utilities Service. Recognize the dynamics of current issues related to natural gas, infrastructure replacement programs. List the alternative rate designs available to regulatory companies. Recognize the dynamics of formula rates. Identify the changes that are occurring with the Co-operatives in the United States. Identify the impact and cost from smart cities and micro grids. Identify the current accounting issues at FERC. Identify current water industry statistics and outlook. List current regulatory issues in water regulation. Identify issues with the Water Uniform System of Accounts from the 1990 s. List current regulatory issues before the Illinois Commission. CPE CREDITS AICPA/NASBA guidelines for CPE credits are based on a 50-minute credit hour in qualifying NASBA CPE subject areas; one credit equals 50 minutes. All breaks and lunches are omitted from the total CPE minutes. Historically, participants that attend all sessions of the program earn an average of 5 CPE hours in the accounting field of study and 18 CPE hours in the specialized knowledge field of study. Based on previous experience, 19 to 21 hours of CPE credits will be available to participants attending the open sessions, with an additional 2 to 3 hours available in the closed sessions. Final CPE earned will be determined based on the length of participation in the program as evidenced through completed attendance forms for each session attended. This conference provides a general review of new accounting pronouncements and issues that affect regulated utilities. The conference presentation method is group-live and the course level is intermediate. Prerequisite: Background in Accounting and Regulatory Issues. There is no advance preparation needed for this conference. The National Association of Regulatory Utility Commissioners (NARUC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE Credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: Certificate of Continuing Regulatory Education Credits For public and nonprofit sector employees, full attendance at the program will earn 20 credits toward a Certificate of Continuing Regulatory Education (CCRE) sponsored by the Institute of Public Utilities at Michigan State University and endorsed by the National Association of Regulatory Utility Commissioners. Credits may be earned for up to two programs hosted by the same professional organization and past attendance may be eligible. For program details, please visit ipu.msu.edu/ccre or contact ipu@msu.edu. Tag Colors: Red: Staff Tan: Speakers Green: All others

5 Speaker Biographies NARUC Staff Subcommittee on Accounting & Finance Springfield, Illinois September 10, 2017 September 14, 2017 Azeema Akram, Esq. Moderator Ms. Akram is a Legal & Policy Advisor to Acting Commissioner Oliva at the Illinois Commerce Commission (ICC). Prior to joining the ICC, she was Assistant General Counsel at the Illinois Department of Financial & Professional Regulation (IDFPR). In that role, she gained significant regulatory, legislative, and policy experience while providing legal advice to the IDFPR Director, staff, & professional boards such as the Illinois State Medical Licensing & Disciplinary Boards. Ms. Akram earned her Bachelor of Arts in International Studies from the University of Missouri-Columbia and her Juris Doctorate from DePaul University College of Law. While in law school, she clerked in the IDFPR s General Prosecutions Unit under Supreme Court Rule 711, where she prosecuted dentists, funeral directors & embalmers, collection agencies for professional violations. Ms. Akram also clerked for the Honorable Mark J. Lopez in the Domestic Relations Division of the Cook County Circuit Court, and also at Children s Law Group, a small firm dedicated to representing children with disabilities. Ms. Akram serves on the Board of Global Issues Leadership Development, a non-profit that promotes leadership skills and education on international issues for high school students, and is a member of the South Asian Bar Association. Diana Alger, CPA, Chief, Technical Accounting & Auditing Staff Rural Utilities Service, U.S., Department of Agriculture Diana has been Chief of the Technical Accounting and Auditing Staff of the Rural Utilities Service since March She previously served as a Systems Accountant on that staff beginning in Diana offers technical accounting and auditing advice and direction to Rural Utilities Service borrowers, CPAs and Rural Utilities Service personnel. Prior to coming to the Rural Utilities Service, Diana spent 7 years with the Department of the Navy as a Staff Accountant concentrating on budget and performance evaluation. She also worked for 5 years in private industry at the Corporate Controller level. Diana has a Bachelor of Science degree in accounting and is a Certified Public Accountant licensed to practice in the state of Maryland. She is a member of the American Institute of Certified Public Accountants. Stavros Bezas, Manager of Gas Operations, DTE Energy Mr. Bezas has worked with DTE Energy since 2007, positions held were CEO Staff/Enterprise Performance Management, Risk Associate, Senior Strategist, and Manager of Gas Operations in Construction Design and Planning. He got his Bachelor of Science in Accounting and Finance from Oakland University. He also got his MBA in Finance and Economics from Oakland University. Responsible for the planning and design of routine and planned construction activity for Southeast Michigan Gas Operations. Prior to this role, served as Senior Strategist for DTE Gas focusing on benchmarking leading practices, conducting cross-functional special projects, and developing corporate strategy. Richard W. Bridal II, C.P.A. Mr. Bridal is an Accountant in the Financial Analysis Division of the Public Utilities Bureau at the Illinois Commerce Commission (ICC). He has worked at the ICC for 9 years. He is a Certified Public Accountant and earned his Bachelor of Business degree in Accountancy from Western Illinois University. Prior to joining the ICC, Rick was a Senior Auditor in the Medicare Audit & Reimbursement division of Anthem, Inc. Cheryl Bulecza-Banks, C.P.A. Ms. Bulecza-Banks is the Co-Chair of the NARUC Staff Subcommittee on Accounting and Finance. She works at the Florida Public Commission as an Assistant Director. Richard W. Caperton, M.B.A. Mr. Caperton is the Director of National Policy and Regulatory Affairs for Oracle Utilities. Caperton leads the company s state regulatory work across eastern North America, as well as any engagements with the federal government, including Congress, administrative agencies, and Federal Energy Regulatory Commission. He also guides the company s global regulatory strategy on demand response and electricity market design. Prior to joining Oracle, Caperton was the Managing Director for Energy at the Center for American Progress, where he worked on energy tax and finance policy and electric utility issues. He has also worked in government relations at the National Rural Electric Cooperative Association and served as a policy fellow at the Alliance for Climate Protection. He currently serves on the board of the Clean Energy Leadership Institute and teaches graduate students at Johns Hopkins University s School of Advanced International Studies. Mr. Caperton is a native of rural America, growing up in Virginia and Missouri. He received his Master s Degree in Business Administration from Georgetown University s McDonough School of Business and a Bachelor of Arts degree in Political Science from Pomona College. Nicholas T. Cappiello III, CPA, Supervising Project Manager, FASB Nick is Supervising Project Manager on the FASB project on Disclosure Framework. Nick has also been project manager on FASB/IASB joint projects on Financial Statement Presentation and Leases. Nick has worked on issues related to revenue recognition and insurance contracts and was an XBRL team project manager. Prior to his role as at the FASB, Nick was a Director of Reporting at USI Holdings Corp. and Controller at Independence Holding Company. Before that, Nick was a Business Assurance Senior at PwC. Nick earned both a BBA and MBA from Pace University and he is a Certified Public Accountant. Joe Christian, Director Rates & Regulatory Affairs, Atmos Energy Mr. Christian has worked at Atmos Energy since September During his twenty eight years at Atmos Energy he has held the following jobs, Internal Auditor, Senior Financial Analyst, Manager of Budget & Planning, Division VP of Finance, Division VP of Rates and Regulatory Affairs, and Director of Rates & Regulatory Affairs. He has BBA/MBA from East Texas State University in Accounting. Gerardo Delgado, Esq. Gerardo Julian Delgado serves as a Legal & Policy Advisor to Acting Commissioner Sadzi Martha Oliva at the Illinois Commerce Commission. In his current role, Mr. Delgado provides counsel on regulatory matters related to energy, water and gas utilities and telecommunication and transportation industries. He is also an attorney admitted to the Illinois Bar and Massachusetts Bar and has experience in compliance, transactional law and civil litigation. Mr. Delgado earned his Juris Doctorate at Suffolk University Law School. While at Suffolk Law, he clerked as a judicial intern for Justice Diana L. Maldonado at Chelsea District Court and was a corporate legal liaison for health club and real estate developer, Millennium Partners. He is also a graduate of the University of Illinois, where he received a Bachelor of Arts in Political Science and Economics. Mr. Delgado serves on the Advisory Board of JustiServ, an online forum connecting the public to qualified and affordable legal representation, and served as Board Member and Law Co-Chair at ALPFA, a national professional organization dedicated to empowering Latino leaders. Caroline Garcia, CPA, Audit Partner, KPMG LLP Caroline is an Audit Partner in KPMG s Power and Utilities practice. She has more than eighteen years of experience providing financial statement audit, audit of internal control services and audits of employee benefit plans. Caroline s industry focus has been concentrated in energy with regulated electric utility companies. She is a member of the firm s National Energy Team, is a National Instructor in KPMG s continuing professional education program, and is the Partner-in-Charge of the Power & Utilities learning and development course for KPMG US associates. Caroline has provided professional audit services with responsibilities including all facets of financial and information assurance, project management and service delivery to clients primarily in the Power and Utilities industry. She specializes primarily in Securities and Exchange Commission (SEC) registrants to ensure compliance with U.S. GAAP and PCAOB requirements. Her audit experience includes assurance and review services in connection with SEC filings, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Annual Proxy Statements, comfort letters, other regulatory filings, and employee benefit plan audits. Her other regulatory experience includes filings with the Federal Energy Regulatory Commission (FERC), Public Utility Commission of Texas (PUCT) and the New Mexico Public Regulation Commission (NMPRC). Her experience in employee benefit plans ensured compliance with all Department of Labor, Internal Revenue Service and ERISA requirements in the performance of those services. Caroline completed a two-year rotation with KPMG s Global Services Centre from May 2011 through May The Global Services Centre develops KPMG s global audit methodology to support audit professionals around the world with new products and tools. Caroline led one of KPMG s Global Initiatives a project charged with the responsibility for designing and deploying audit software for KPMG s largest audit engagement teams worldwide. As part of this role, Caroline led the design of new tools in close cooperation with KPMG s Department of Professional Practice (DPP), the International Standards Group (ISG), led pilots at KPMG s largest audit. Jim Gould, Principal, Ogilvy Government Relations Jim Gould is with Jim Gould Strategies. He brings more than three decades of experience in tax law and policymaking in Washington, DC. He has represented companies and trade groups in such industries as energy, insurance, financial services, manufacturing, transportation, public utilities, retail, real estate, and pharmaceuticals. Gould began his career as a law clerk for the United States Tax Court. During the 1980s, he served on Capitol Hill as staff director, chief counsel, and chief tax counsel to the Senate Finance Committee under committee chairman Lloyd Bentsen (D-TX). He was intimately involved in the writing of the Deficit Reduction Act of 1984, the Tax Reform Act of 1986, the Technical and Miscellaneous Revenue Act of 1988, and other measures during that period of frequent tax and deficit-reduction legislation in Congress. Gould brings an historical and procedural perspective to the job of advising clients on tax policymaking. He regularly assists clients in rethinking and reformulating policy positions as economic and political circumstances shift in Washington. His many years of experience let him translate ideas into effective content for use with lawmakers i.e., position papers, legislative proposals, talking points, correspondence, and other necessary documents. Articles published by Gould in recent years have recounted in detail the historical and procedural factors at play in the tax-writing process in Congress. Articles include: Square Pegs, Round Holes, and Federal Tax Reform (Tax Notes, 2016). Tax Reform, Congress, and Politics (Tax Notes, 2015). The Outsized Role of Transition Rules in Passing Tax Reform (Tax Notes 2013). Page 1 of 4

6 Speaker Biographies NARUC Staff Subcommittee on Accounting & Finance Springfield, Illinois September 10, 2017 September 14, 2017 Not Your Father s Tax Reform: 2013 vs (Tax Notes 2012). Targeted Tax Benefits, Indexing, and the Mass Income Tax (Tax Notes 2011). Gould is a regular speaker on tax policy at bar association meetings and industry conferences. He holds a law degree from Harvard Law School and a bachelor s degree in economics with honors from Washington & Lee University. Bob Hance, CEO, Midwest Energy Cooperative Bob Hance started his electric cooperative career in 1974 as the facilities mapping coordinator and later the assistant general manager at the O&A Electric Cooperative in Newaygo, Michigan, where he went on to serve as general manager from 1987 to From 1995 to 1996 he co-managed O&A and Oceana Electric Cooperative in Hart, Michigan while the two systems considered a merge. The successful merger resulted in the formation of Great Lakes Energy Cooperative, at which Hance served as president/coo from 1997 to In 1998 he co-directed a three-way merger between Great Lakes, Top O Michigan and Western Michigan Electric Cooperatives and in 1999 was named the executive vice president/coo of the 120,000 member Great Lakes Energy Cooperative. In 2000 Hance worked as the director of member relations with Wabash Valley Power Association, the Indianapolis-based generation and transmission cooperative. He began his role as President and CEO at Midwest Energy Cooperative on March 12, Within the electric cooperative industry, Hance has developed a reputation as a leader and a trailblazer. He has helped to secure more than $4 million in economic development grants, and has positioned co-ops as regional leaders on energy and economic development issues. In 2004 the industry recognized him for his invaluable contributions and dedication to fostering a spirit of cooperation and service among the electric cooperatives and communities they serve with a Regional Award for Outstanding Service from NRECA, and in 2010 he was recognized by his peers for his leadership within and commitment to the electric cooperative industry with the Michigan Electric Cooperative Association (MECA) Special Recognition Award. He is currently the board chairman for RESCO and serves on the Boards of Directors for the Michigan Electric Cooperative Association (MECA), National Rural Telecommunications Cooperative (NRTC), Spartan Renewable Energy and Utilities Telecom Council (UTC). He is also a founding member and current vice chairman of the Rural Broadband Council, an independent operating unit of UTC, and a member of the Rural Broadband Coalition, which is actively pursuing the development of rules within the CAF competitive auction that will ensure rural America s access to true and equitable broadband is secured. Hance is also highly regarded as a community leader, having served in various capacities with the following businesses and organizations: Southern Michigan Bancorp, Southern Michigan Bank and Trust, Cass/Vandalia Chamber of Commerce, Newaygo Public Schools Board of Education, Newaygo Intermediate School District Board of Education, Newaygo Futures Committee, Newaygo Tax Increment Finance Authority, Gerber Memorial Health Services, Grant State Bank, First Michigan Bank, Newaygo County Economic Development Office, and Baker College. Matthew Harvey, Esq, Mr. Harvey is an experienced trial, administrative appellate and regulatory attorney at the Illinois Commerce Commission s Office of General Counsel. He supervises the administrative trials section consisting of 6-10 lawyers. He has an extensive policy and legislative drafting experience. He has prepared and argued briefs, motions and pleadings in numerous civil, administrative and appellate cases. He is also experienced in working with expert witnesses, including economists, engineers, accountants, and financial, policy, consumer and safety analysts. Mr. Harvey has extensive experience in interagency and intergovernmental matters. Steven Hunt, Deputy Chief Accountant, FERC Steven has 15 years of experience at the Federal Energy Regulatory Commission and currently serves a deputy director in the Office of Enforcement s Division of Audits and Accounting. In this role, he provides oversight to the Commission s accounting and audit program, gives expert advice to the Chief Accountant on all accounting and financial matters in ongoing audits and other proceedings before the Commission, and serves as the primary accounting and audit liaison to the Commission for policy and rulemaking initiatives. Prior to his current position, Mr. Hunt served for three years as the manager of the Regulatory Accounting Branch in the Office of Enforcement s Division of Audits and Accounting. Throughout Mr. Hunt s career at FERC, he has managed numerous accounting applications, provided accounting support for electric, natural gas, and oil rate filings, and provided accounting support to audits and other enforcement activities. He has also led and assisted in the development of many accounting guidance letters and Commission orders, policy statements, and rulemakings. Mr. Hunt has also been a leader in many of FERC s activities involving International Financial Reporting Standards. Mr. Hunt is a licensed Certified Public Accountant in Washington, DC. He also holds a Bachelor s Degree in Accounting and a Master s Degree in Accounting and Information Systems from Virginia Tech. Brian Jones, CPA, Senior Manager, Mazars USA LLP Brian has over 12 years of experience in public accounting. He performs audits of public and non public companies in accordance with US GAAP and IFRS guidance. Experienced in SEC/PCAOB financial reporting and assessing internal controls to ensure compliance with Sarbanes Oxley Section 404 requirements. Prior to joining Mazars USA, Brian worked 5 years at a Big 4 public accounting firm. Brian has specialized in providing auditing and consulting services to manufacturing and energy & utility clients located within the US and internationally. Brian is experienced in performing business combinations (mergers and acquisitions) and due diligence services. Brian s water industry background has included financial statement audits of both regulated & non-regulated utilities that provide water and wastewater services. Brian is experienced in assessing compliance of long-term municipal/government contracts, the application of industry specific accounting guidance and financial reporting requirements subject to regulation by state public utility commissions. Brian received his Master in Accounting from the Long Island University C.W. Post Campus. He is currently a member of the American Institute of Certified Public Accountants. Robert Littmann, P.E., CEO, Industrial Waste Elimination, Inc. Robert J. Littmann, P.E. is Founder and Chief Executive Officer of WaterScience, Inc. and Industrial Waste Elimination, Inc. A nationally recognized expert in industrial process design and engineering, Mr. Littmann has broad experience as an industrial formulating chemist with over 600 formulas. He pioneered Profitable Waste Elimination. Mr. Littmann has more than 50 years of successful industrial experience in designing, engineering, manufacturing, owning and operating processes. His broad range of experience in every aspect of manufacturing provides him with the ability to visualize projects and processes as a whole and break them down to a molecular level in order to understand the smallest details of how they function. His expansive knowledge and insight allows him to not only create and build new processes and products but also to understand and interrelate complex systems. Since early 2000, Mr. Littmann has focused his chemical engineering and biochemistry skills towards solving the serious challenges facing the wastewater and agricultural industries. He has three patents in application with a full pipeline ready to meet the challenges of profitably abating hypoxia in waterways while helping farmers become more profitable. Dr. David G. Loomis, Ph.D. Dr. Loomis is Executive Director of the Institute for Regulatory Policy Studies and Professor of Economics at Illinois State University where he teaches in the Master s Degree program in electricity, natural gas and telecommunications economics. He earned his Ph.D. in Economics at Temple University. Prior to joining the faculty at Illinois State University, Dr. Loomis worked at Bell Atlantic (Verizon) for 11 years. He has published 23 research articles in leading journals such as Energy Policy, Energy Economics, Electricity Journal, Review of Industrial Organization, Utilities Policy, Renewable Energy, Environmental Law and Policy Review, Energy, Information Economics and Policy, International Journal of Forecasting, Business Economics and the Journal of Economics Education. Dr. Karl McDermott, Ph.D. Dr. McDermott is a Professor in the Department of Accountancy at the University of Illinois in Springfield. Dr. McDermott served as a Commissioner at the Illinois Commerce Commission from , as Vice President of the National Economic Research Associates from , and President and Co-Founder of the Center for Regulatory Studies from Chris Mele, Legislative Director of Energy, NARUC Chris Mele has been a government and government affairs professional for over 25 years. He began his career with United States Senator Arlen Specter. After five years with the Senator, Mr. Mele left the U.S. Senate for a position with the successful 1988 Presidential Campaign of then Vice President George H. W. Bush. After the Presidential campaign Chris worked for the Majority Leader of the Pennsylvania State Senate. He left the Pennsylvania Senate in 1989 to take a position with the rural electric cooperatives where he spent 10 years as the Manager, Government Affairs for the Pennsylvania Rural Electric Association (PREA) and Allegheny Electric Cooperative Inc. (AEC). In this capacity he was responsible for both the Association s and Corporation s legislative, regulatory, and governmental affairs activities. During his tenure at PREA he directed PREA s and AEC s legislative activities as Pennsylvania enacted retail electric restructuring legislation. Following his employment with the PREA he was Special Assistant for Energy Issues for the Majority Leader of the Pennsylvania House of Representatives. In 1998 Mr. Mele joined the National Association of Regulatory Utility Commissioners (NARUC) and is now Legislative Director - Energy at NARUC where he is responsible for NARUC s legislative advocacy regarding energy issues in Washington D.C. Chris resides with his wife and son in North Bethesda, Maryland. Sal Montalbano, Tax Partner, PwC Sal Montalbano, tax Partner in PwC s national power and utilities sector, offers clients a deep understanding of the utilities industry garnered through 22 years of public accounting experience focused primarily on public utilities taxation. Because Sal is both a CPA and Tax Attorney, his focus extends beyond pure accounting to technical tax and legislative implications for business. Sal has a passion for creating wins for his clients. His clients express it best, Sal is personable, professional, diligent, and responsive. He has a balanced approach, offering alternatives that are well informed. We are confident in his perspective and trust him to share his point of view and steer us in the right direction. Knowing that one solution does not fit all, whether working with clients, colleagues or in his community, Sal is not one to jump to conclusions but rather listens thoughtfully for concerns and context, valuing multiple points of view to offer the most meaningful contribution. Sal, known as the calm in the eye of the storm, has mastered the art of not taking himself too Page seriously. 2 of 4 This helps to create a collegial environment on his team, helping them to stay fluid in challenging situations, and encouraging them to bring their most creative solutions to the table. With his ability to translate complex tax regulations into plain English, Sal is a frequent presenter at various utilities tax conferences, including AGA, EEI, Exnet and NARUC. To request as speaker, please contact at listed. He is the Treasurer on the Friends of the Zoo in the Kansas City area. He confesses that he is a hopeless, die-hard Kansas City Royals fan.

7 Speaker Biographies NARUC Staff Subcommittee on Accounting & Finance Springfield, Illinois September 10, 2017 September 14, 2017 Mr. Murray achieved the Chartered Financial Analyst (CFA) designation in In May 1995 he earned his Bachelor of Science degree in Business Administration with an emphasis in Finance and Banking, and Real Estate from the University of Missouri, Columbia, MO. In December 2003 he earned his Master s in Business Administration from Lincoln University, Jefferson City, MO. He passed the CRRA exam in 2007 and served on the SURFA Board from 2008 to Angela Nagy, C.P.A., M.B.A. Ms. Nagy is the Executive Director and Southeast Energy Segment leader for Financial Accounting Advisory Services at Ernst and Young, LLC. and works across the U.S. with electric and gas utilities. She has nearly 20 years of combined experience in public accounting and in leadership positions in the power & utilities industry. Having previously served as a public company controller, she has experience in SEC reporting for multiple registrants and accounting in a wide range of accounting and finance areas. Through her current role and having previously served as a public company controller, Ms. Nagy has experience in SEC reporting for multiple registrants and accounting in a wide range of accounting and finance areas, including acquisitions, merger integrations, divestitures, revenue recognition, leases, stock-based compensation, impairments, and bankruptcy accounting. She has audited utility cost allocations across multiple jurisdictions and regulated and non-regulated subsidiaries. She has implemented and tracked cost synergies in finance reorganizations and post-merger integrations. Ms. Nagy has assisted companies in presenting accounting issues to state regulatory staffs, drafting testimony and stipulations to settle regulatory matters, and optimizing capitalization and other accounting policies across multiple utilities. She holds Bachelor of Arts degrees in Accounting and Finance from the University of Oklahoma, a Master s Degree in Business Administration from Georgia State University, and is a Certified Public Accountant in Georgia. Joy Nicdao-Cuyugan, M.B.A. Ms. Nicdao-Cuyugan has been the Director of the Financial Analysis Division of the Illinois Commerce Commission s (ICC) Bureau of Public Utilities since In this capacity, she oversees the work of three departments who work on electric, natural gas, telecommunications, water, and wastewater tariffs and rates: Accounting, Finance, and Rates. She worked in various capacities at the ICC since 1991, including Director of the Telecommunications Division, Manager of the Finance Department, and Senior Financial Analyst. Joy has a Master s Degree in Business Administration from the University of Illinois at Springfield. She also holds a Bachelor of Science degree in Business Management and a Bachelor of Arts degree in Psychology from De La Salle University in Manila, Philippines. She previously taught graduate level Managerial Finance as an adjunct professor at Benedictine University in Springfield, IL. She has published articles on cost of common equity estimation for public utilities in the National Regulatory Research Institute s NRRI Quarterly Bulletin. Acting Commissioner Sadzi Martha Oliva, Esq. Ms. Oliva was appointed by Governor Bruce Rauner in January 2017 to the Illinois Commerce Commission and is the first Latina to serve as Commissioner in the State of Illinois. Prior to joining the Illinois Commerce Commission, Ms. Oliva was General Counsel for the Illinois Department of Financial and Professional Regulation. Previous positions held by Ms. Oliva within the Illinois Department of Financial and Professional Regulation include Ethics Officer, Administrative Law Judge and Chief of Medical Prosecutions. She also worked at the Illinois Department of Children and Family Services as the Chief Administrative Law Judge. Early in her career, Ms. Oliva served as an Assistant Attorney General at the Office of the Illinois Attorney General, Special Prosecutions Bureau, where she prosecuted financial crimes. Ms. Oliva s commitment to public service also includes serving as Chair of the Illinois Governor s Office Administrative Hearings Review Committee which organized and presented the Chicago Bar Association s Annual Administrative Law Conference as well as other continuing legal education seminars related to Administrative Hearings. Additionally, she was the co-chair of the Rules Subcommittee for the Illinois Department of Central Management Systems Bureau of Administrative Hearings Pilot and guided and helped draft the Model Rules of Practice in Administrative Hearings. Ms. Oliva has volunteered for the Chicago Coalition for Law Related Education and Lawyers in a Classroom and is a member of the Cuban American Chamber of Commerce of Illinois. Meagan Pagels, Former Legal & Policy Advisor to Chairman Sheahan (IL Commerce Commission) Meagan M. Pagels is currently a Special Assistant to Cholly Smith, Executive Director of the Illinois Commerce Commission (ICC). Meagan formerly served as Legal and Policy Advisor to Chairman Brien J. Sheahan, and has been at the ICC since August of Meagan served as a moderator for the ICC s policy sessions on M&V 2.0 and Small Cell Networks, and is a member of the National Association of Regulatory Utility Commissioners (NARUC) Staff Subcommittee on Electric Reliability. She is also actively involved in NARUC s Task Force on Innovation and NextGrid, Illinois Utility of the Future Study. Meagan graduated from DePaul University College of Law and was admitted to the Illinois Bar in November At DePaul, Meagan was an Associate Editor of the DePaul Law Review, participated in the Phi Alpha Delta Legal Fraternity, and served as an Academic Support Mentor to incoming students. Meagan received her undergraduate degrees in Justice Studies and Sociology from Arizona State University. Mary Palkovich, Vice President, Gas Engineering and Supplies, Consumer Energy Mary Palkovich is vice president of gas engineering and supply for Consumers Energy, the principal subsidiary of CMS Energy. She was named to this position in Palkovich is responsible for engineering and planning of the company s natural gas transmission and distribution systems, and for natural gas supply. She leads development and execution of plans to maintain, upgrade and expand the natural gas delivery systems that provide safe, reliable, affordable and sustainable natural gas service to customers. Palkovich also oversees natural gas pipeline integrity, natural gas metering and regulation, natural gas transmission, compression and storage, and natural gas control. Palkovich previously served as vice president of energy delivery. She joined Consumers Energy in 2012 as executive manager of gas asset management. Prior to joining Consumers Energy, Palkovich worked for CenterPoint Energy, Minnegasco, and Panhandle Eastern Pipeline Company in various engineering and leadership roles. Palkovich holds a bachelor s degree in computer science and mathematics from the University of Missouri-Kansas City. She also earned an associate s degree in civil engineering technology from Michigan Technological University. Julie Petit, CPA, Senior Manager, Mazars USA LLP Julie has experience with Mazars in the United States and in Europe. She provides external auditing services and consulting services for middle size companies, multinational corporations as well as SEC registrants. Her experience includes audits and reviews under US GAAP and IFRS reporting frameworks, assessments of internal controls according to the section 404 of the Sarbanes Oxley Act, presentation of findings to improve internal control efficiency and risk management. She has industry expertise in energy & utility, distribution and manufacturing. Julie has an extensive experience within the regulatory and non-regulatory reporting frameworks of water and wastewater utilities in the United States. She brings substantial knowledge relating to the financial accounting and auditing processes of companies that build or operate water and wastewater treatment systems. Julie has a master degree in Energy and Utility Engineering from Ecole des Mines (France) and a master degree in Finance from Audencia (France). She is a Certified Public Accountant in the State of New York. Rochelle Phipps, M.B.A. Ms. Phipps is a Senior Financial Analyst in the Illinois Commerce Commission s (ICC) Finance Department. In this role, she has testified on numerous rate cases on public utility cost of equity and the overall cost of capital for 17 years. She received a Bachelor of Arts degree in Finance from Illinois College and a Master s Degree in Business Administration from the University of Illinois at Springfield. She is also the Co-Chair of the ICC s Diversity and Inclusion Committee. David G. Pitts, FSA, Independent Actuarial Services David Pitts is a Fellow in the Society of Actuaries, and the sole proprietor of Independent Actuarial Services (IAS), a consultancy focused on retirement system and economic damage analysis. David has provided regulatory consulting services in Colorado, Connecticut, Missouri, and New Mexico, and is a regular speaker at NARUC conferences. David is a thought leader in pension risk, notably its role within an enterprise framework. Immediately prior to starting IAS, David worked for Moody s Analytics, where he developed a technique for linking strategic pension asset allocation decisions to indicative credit ratings. David is an active volunteer with the Society of Actuaries, currently serving on the SOA s Enterprise Risk Management Curriculum and Examination committees. He also served on the Pension Finance Task Force, an industry group working to integrate basic principles of finance and economics into retirement actuarial practice. Early in his career, David worked with Fortune 100 companies as a consultant with Towers Watson, Mercer, and Buck. David has consulted on a variety of pension and retiree medical matters, including benefit design, communication, valuation, risk mitigation, service provider fee analysis, pension financing alternatives, and enterprise risk management. Randall Eric Robertson, Esq. Mr. Robertson has been a member of the Illinois Bar since 1973, following completion of his law studies at St. Louis University (J.D. 1973) and undergraduate work at DePauw University (B.A. 1968). Eric served as Assistant City Attorney for Granite City from 1973 to 1975 and as Special Assistant Illinois Attorney General from 1975 to He was Attorney for the Tri-City Regional Port District from 1994 to 2005 and has been Attorney for the Granite City Park District since Page 3 of 4

8 Speaker Biographies NARUC Staff Subcommittee on Accounting & Finance Springfield, Illinois September 10, 2017 September 14, 2017 Mr. Robertson served on the Board of Directors of Coro Foundation in St. Louis, Missouri from 1985 to 1987, on the Lay Advisory Board and Ethics Committee of St. Elizabeth Medical Center in Granite City from 1986 to 2001, and on the Board of Directors for the Tri-City Area United Way from 1991 to He currently serves on the Board of Alcoholic Rehabilitation Community House, a position he has held since Tamer Rousan, M.S.E.E. Mr. Rousan is the Supervising Engineer of Distribution Automation Technology at Ameren Illinois. He is responsible for managing Ameren Illinois' state-wide Voltage Optimization program, and DER control and integration. Previously, he led Ameren Illinois' Micro Grid project, the most advanced Micro Grid in North America to date. Throughout his career at Ameren, Mr. Rousan led Ameren DA technology projects that included self-healing networks, ADMS (Advanced Distribution Management Systems) implementation and CVR/VVO pilots. Tamer received his Bachelor of Science in Electrical Engineering and Master s Degree in Electrical Engineering at the University of Illinois at Champaign-Urbana. Susan Satter, Esq. Ms. Satter is currently Public Utilities Counsel to Illinois Attorney General Lisa Madigan. She became an Assistant Attorney General in the Public Utilities Bureau in 2000, and was Legal Counsel for the Citizens Utility Board starting in Among the issues she has addressed are rates and prices, cost of service, cost of capital, infrastructure investment, energy regulation and markets, telecommunications regulation and competition, and corporate reorganizations. Ms. Satter graduated with honors from Chicago-Kent College of Law and served as a judicial law clerk to the Honorable Warren J. Ferguson in the United States Court of Appeals for the Ninth Circuit. In addition to general litigation experience, she has extensive experience representing the People of the State of Illinois and residential consumers in administrative, judicial, and legislative proceedings involving energy, water, and telecommunications services. Toby Shea, M.A. Mr. Shea is the Vice President Senior Credit Officer at Moody s Global Infrastructure Finance Group. He is responsible for a portfolio consisting of electric and gas utilities. Prior to joining Moody s, he worked for more than 15 years in the field of credit risk relating to energy and commodities, including Senior Credit Manager at Noble Group, Head of Credit and Portfolio Analytics at RBS Sempra and Director at Standard & Poor s. Mr. Shea graduated with a Bachelor of Science in Chemical Engineering from Johns Hopkins University and Master of Arts in International Relations from Tufts University s Fletcher School. Scott Struck, C.P.A. Mr. Struck is the Assistant Director of the Financial Analysis Division of the Public Utilities Bureau of the Illinois Commerce Commission (ICC). The Financial Analysis Division reviews various financial issues in utility proceedings before the ICC. These issues include revenue requirements, cost of service studies, rate design, cost of capital, capital structure, mergers and acquisitions, affiliate transactions, and various reconciliation matters. From June 2012 to August 2017, Mr. Struck was the Manager of the ICC s Rates Department, which provides analyses and expert testimony regarding cost of service studies, rate design, and tariff administration in rate proceedings before the ICC. From June 1990 to June 2012, Mr. Struck was in the ICC s Accounting Department and held the positions of Staff Auditor, Senior Auditor, Chief Auditor and Supervisor. For most of his career at the ICC, Mr. Struck has provided leadership to ICC staff analysts who provide expert witness testimony in various proceedings before the ICC. Prior to joining the ICC staff in 1990, Mr. Struck worked in public accounting for two years and for a soft drink bottling and distributing company for one year. Mr. Struck holds a Bachelor of Science in Accounting from Southern Illinois University at Carbondale and is a licensed Certified Public Accountant in Illinois. Danny Waggoner, M.A. Mr. Waggoner is the Manager, Regulatory Transformation at Advanced Energy Economy where he leads a group of more than 50 companies engaging in the Reforming the Energy Vision proceeding in New York, an effort to comprehensively redesign utility regulation and business models to capture the public benefits of advanced energy technologies. He has worked at the White House Council on Environmental Quality and the American Council on Renewable Energy and is a former consultant to Third Way, a centrist think tank. Prior to working in energy, he was at a non-profit arm of the U.S. Chamber of Commerce focused on improving corporate social responsibility in developing countries. He has written on high-risk financing for technology development and deployment for academic journals and The World Bank. Mr. Waggoner has a Bachelor of Arts in Government from the University of Texas at Austin and a Master of Arts in Science and Technology Policy from George Washington University. Robert (Bob) K. Wilson, CPA, MBA, CGMA, Chief Financial Officer, Industrial Waste Elimination, Inc. Solution-driven Senior Financial Executive with extensive experience in business development and sales, financial and operational management roles in Water, Telecommunications, Utilities, Professional Services in Audit and Management Consulting, Manufacturing, Not for Profit, Financial Services industries. Passionate leader with a record of success in business development and growth in establishing and leading teams to meet objectives. Extensive experience in the areas of financial management, treasury, international business, strategic planning, ERP, finance transformation, shared service, client service and delivery and staff development. Key strength in developing strategic partnerships with functional leaders to effectively bridge the gap between operational decisions and financial targets. CFO Consultation and Support Finance Transformation and Process Improvement ERP selection & implementation Shared Service Design, Setup and Management Financial and Operational Reporting and Management Treasury Management Control Design and Implementation Strategic and Financial Planning Mergers and Acquisitions Project Management Business Development and Growth Jim Yu, CPA, Accountant, FERC Jim joined the Federal Energy Regulatory Commission (FERC) in 2015, and has since advised FERC on various accounting, rate, and compliance matters. In addition to advising FERC, he has worked with companies on interpretation and application of FERC regulations, FASB updates, and transaction-related considerations. Before joining FERC, Jim was the lead policy accountant at Amtrak, writing accounting policies in response to FASB updates and advising management on policy implementation and technical accounting matters. Prior to Amtrak, he was an auditor at PricewaterhouseCoopers. Jim graduated from Louisiana State University with a Bachelor of Science Degree in Accounting, and from the College of William and Mary with a Master s Degree in Accounting. He is a CPA licensed in the state of Virginia. Tim Zeldenrust, PowerPlan Tim is a Vice President at PowerPlan Inc. He is one the principal architects of PowerPlan s Regulatory Management Suite (RMS), and in his current role he assists clients in the solution design and implementation of RMS. While at PowerPlan, Tim has provided expert consulting and testimony for rate cases and litigation related to rate base, utility income taxes, and other utility accounting and cost allocation issues. He has more than 30 years of experience in regulatory consulting, accounting, audit and litigation services to clients in the utilities, telecommunications and cable television industries. Tim has audited large, diversified multi-location public companies regulated by the SEC. His experience includes extensive involvement in rate cases before utility commissions and in accounting and income tax matters for utility and other companies. Prior to joining PowerPlan, Tim was a Director at Huron Consulting Group, where he focused on regulatory, dispute and accounting consulting with an emphasis on utility and telecommunications companies. Prior to that, he was a principal at Arthur Andersen, where he performed financial statement audit, regulatory and dispute consulting services with an emphasis on utilities, telecommunications and cable television clients. Tim received a Bachelor of Arts in accounting and business administration from Carthage College in Kenosha, Wisconsin. Dr. James Zolnierek, Ph.D. Dr. Zolnierek is the Public Utility Bureau Chief at the Illinois Commerce Commission (ICC) and was previously Director of the Telecommunications Division at the ICC. He has worked at the ICC for 17 years. He earned his Doctor of Philosophy degree in Economics from Michigan State University. Prior to joining the ICC, he was an Industry Economist at the Federal Communications Commission s Common Carrier Bureau. Page 4 of 4