Meeting · FINANCE_AUDIT

ERCOT Finance & Audit Committee Meeting

Concluded date 2008-10-21 time 07:30–10:00 ercot.com

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

Agenda 25 items

1. Call to order Executive Session — C. Karnei · 7:30am
2. a. Approval of executive session minutes (09/16/08) Vote — C. Karnei · 7:30am
b. Discuss ERCOT nepotism policy — N. Capezzuti · 7:33am
c. Internal Audit status report — B. Wullenjohn · 7:40am
d. EthicsPoint update — B. Wullenjohn · 7:42am
e. Review draft 2009 Internal Audit plan — B. Wullenjohn · 7:50am
f. Discuss responsibility for performing REC program audits — B. Wullenjohn · 8:10am
g. Internal Audit resources discussion — B. Wullenjohn · 8:15am
h. Quarterly private discussion with Chief Audit Executive — B. Wullenjohn · 8:20am
i. Debt financing proposal — C. Yager · 8:25am
Recess Executive Session · 8:35am
Convene General Session
3. Approval of general session meeting minutes (09/16/08) Vote — C. Karnei · 8:35am
4. Debt financing proposal Vote — C. Yager · 8:37am
5. Debt and liquidity update — C. Yager · 8:45am
6. Quarterly review of investment results — C. Yager · 8:50am
7. Approval of engagement of external auditor for other services Vote — M. Petterson · 8:55am
8. External auditor independence and review of the 2008 financial audit plan — S. Barry · 9:05am
9. Updates to the standard form guarantee Vote — C. Seely · 9:10am
10. Credit update draft credit standard — C. Yager · 9:25am
11. Financial update — M. Petterson · 9:35am
12. Budget planning - Updated Nodal budget; 2009 updated base operations; 2010 — M. Petterson · 9:40am
13. Committee Briefs (Q&A only) — All · 9:45am
14. Future agenda items — S. Byone · 9:50am
Adjourn ISO meeting — C. Karnei · 9:55am