Meeting · FINANCE_AUDIT

Finance and Audit Committee Meeting

Concluded date 2006-08-15 time 08:00–10:00 ercot.com

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

Agenda 18 items

1. Approval of Minutes* (07/18/06) Vote — C Karnei · 8:00 a.m.
2. Review reforecast of 2006 revenues and expenses — M Petterson · 8:05 a.m.
3. Review revised 2007 budget schedule — M Petterson · 8:15 a.m.
4. Surcharge Briefing — S Byone · 8:20 a.m.
5. Discussion of materiality level — M Petterson · 8:25 a.m.
6. Project priority list/funding level review — D TroxtellK Gresham · 8:30 a.m.
7. Audit Status Briefing (internal controls/SAS 70) — S Byone · 8:50 a.m.
8. Audit and Compliance, Incidence Response Preparedness and ERM Update (preview of full Board presentation) — D Meek · 9:00
9. Credit (preview of full Board presentation) — M Davies · 9:05 a.m.
10. Committee Briefs (major changes/Q&A) — All · 9:10 a.m.
11. Future Agenda Items/Other Topics — S Byone · 9:15 a.m.
12. Adjourn to Executive Session · 9:20 a.m.
Financial auditor selection — M Petterson · 9:20 a.m.
SAS 70 auditor selection for 2007 — B Wullenjohn · 9:25 a.m.
Internal Audit Department Goals for 2006 — B Wullenjohn · 9:35 a.m.
Significant Audit Findings — B Wullenjohn · 9:40 a.m.
Ethics Point — C Vance · 9:50 a.m.
Adjourn · 9:55 a.m.