Meeting · FINANCE_AUDIT

ERCOT Finance & Audit Committee Meeting

Concluded date 2009-02-17 time 07:30–09:55 ercot.com

LocationERCOT Austin 8000 Metropolis (Building E), Suite 100 Austin, TX 78744 Room 168

Agenda 27 items

1. Call to order Executive Session — M. Espinosa · 7:30am
2. a. Approval of executive session minutes (01/20/09) Vote — M. Espinosa · 7:30am
b. Internal Audit status report — B. Wullenjohn · 7:32am
c. Update on Internal Audit goals — B. Wullenjohn · 7:35am
d. Update on Internal Audit staffing — B. Wullenjohn · 7:45am
e. EthicsPoint update — B. Wullenjohn · 7:50am
f. Contracts, personnel, litigation and security — Various · 7:55am
Recess Executive Session · 8:05am
Convene General Session
3. Approval of general session meeting minutes (01/20/09) Vote — M. Espinosa · 8:05am
4. Review of significant accounting policies — M. Petterson · 8:07am
- Treatment of investment losses Vote
- Sales tax gain contingency
5. Review of Nodal Surcharge options and Debt Financing Vote — C. Yager · 8:20am
6. Review and approval of updated Investment Standard Vote — C. Yager · 8:40am
- Update on discussion of ownership of gains and losses from investment of market funds — C. Yager
- Review draft Protocol language regarding investment gains/losses — C. Seely
7. Credit update — C. Yager · 8:55am
- Review ERCOT Market Credit Risk Standard draft
- Review credit statistics
- Review unsecured credit process
- Update on financial statement requirement enforcement
- Update on uplifts in process
8. Review and approval of the standard form guarantee agreements Vote — C. Seely · 9:15am
9. Committee Briefs (Q&A only) — All · 9:45am
10. Future agenda items — S. Byone · 9:50am
Adjourn ISO meeting — M. Espinosa · 9:55am