Meeting · FINANCE_AUDIT

Finance and Audit Committee Meeting

Concluded date 2006-11-14 time 07:30–10:00 ercot.com

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

Agenda 27 items

1. Adjourn to Executive Session · 7:30 a.m.
Approval of 2007 Internal Audit Plan — B Wullenjohn · 7:30 a.m.
- Update on 2006 Internal Audit Goals — B Wullenjohn · 7:40 a.m.
- Significant Audit Findings — B Wullenjohn · 7:45 a.m.
- EthicsPoint Update — C Vance · 7:50 a.m.
- Contracts (Vote on Recommendation in General Session) — C Yager · 7:55 a.m.
Break · 8:05 a.m.
Reconvene to General Session · 8:10 a.m.
2. Approval of Minutes* (10/17/06) Vote — C Karnei · 8:10 a.m.
3. 2007 Strategic Financial Plan and Budget (VOTE on Recommendation) — S. Byone · 8:15 a.m.
4. Third Party Audits · 8:30 a.m.
- D&T Agreed Upon Procedures Review/Brief — K Schwerdtfeger · 8:30 a.m.
- 2006 SAS 70 — S Barry · 8:40 a.m.
- 2006 Financial Audit Planning — S Barry · 8:50 a.m.
5. FAS 71/Regulatory Accounting — M Petterson · 9:00 a.m.
6. Annual Standard & Charter Reviews · 9:10 a.m.
- Status of CWG Charter Update — C Yager
- Review and approve Financial and Investment Standards (Vote on Recommendation) — C Yager
7. Interest Rate Risk Management\Derivatives — C Yager · 9:25 a.m.
8. Outage Scheduler Project Cancellation Q&A — K Saathoff · 9:30 a.m.
9. Committee Briefs · 9:40 a.m.
- ERM
- PMO
- Credit
- ICMP
10. Future Agenda Items — S Byone · 9:50 a.m.
Adjourn · 9:55 a.m.