Meeting · FINANCE_AUDIT

Finance and Audit Committee Meeting

Concluded date 2007-02-20 time 07:30–10:00 ercot.com

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

Agenda 20 items

1. Adjourn to executive session
- Significant audit findings — B Wullenjohn · 7:30 a.m.
- EthicsPoint update — E Arterberry · 7:35 a.m.
- Update on Internal Audit staffing — B Wullenjohn · 7:40 a.m.
- Update on Internal Audit goals — B Wullenjohn · 7:45 a.m.
- Discussion with executive management — Jones/Byone · 7:50 a.m.
- Assessment of the adequacy & effectiveness of IA staff — B Wullenjohn; then committee discussion · 8:00 a.m.
Reconvene to general session · 8:15 a.m.
2. Approval of Minutes* (1/16/07) Vote — C Karnei · 8:15 a.m.
3. Review Finance and Audit Committee charter — S Byone · 8:20 a.m.
4. Lessons learned from 2006 SAS 70 — S Barry/J Brenton · 8:35 a.m.
5. Review of 2006 financial results & vote on use of surplus funds Vote — M Petterson · 8:45 a.m.
6. Approval of selected auditors for final audit of MPP Vote — M Petterson · 8:55 a.m.
7. Assessment of compliance, the internal control environment and systems of internal controls — C Moseley/M Petterson · 9:00 a.m.
8. Briefing on nodal surcharge filing — S Byone · 9:10 a.m.
9. Liquidity Update — C Yager · 9:20 a.m.
10. Capital Project Update — D Troxtell · 9:30 a.m.
11. Committee Briefs (Q&A only) — n/a · 9:40 a.m.
12. Future Agenda Items — S Byone · 9:50 a.m.
Adjourn · 9:55 a.m.