Agenda

Item #

Description/Purpose/Action Required

Presenter

Time

Call to Order

C Karnei

8:00 a.m.

            1.          

Approval of Minutes* (Vote)

C Karnei

8:00 a.m.

            2.          

Update on 2005 Financial Audit

S Barry/PWC

8:05 a.m.

            3.          

Review of Employee Conduct Documents

-        Ethics Agreement

-        Code of Conduct

-        Fraud Prevention

C Shellman

8:20 a.m.

            4.          

Review Finance & Audit Self Assessment Results

S Byone

8:30 a.m.

            5.          

PMO Update

-        Organizational Changes

-        Large Project Update

R Connell

8:40 a.m.

            6.          

Audit Preparedness

-        Internal Controls

-        SAS 70

S Byone/

J Brenton

8:50 a.m.

            7.          

Committee Briefs

-        Changes on ERM Stoplight (D Meek)

-        Credit Stats (Q&A)

-        Audit Point Update (Q&A)

All

8:55 a.m.

            8.          

Future Agenda Items

-        Review and approve ERCOT Annual Report

-        ERO Preliminary Budget Review

-        2007 Budget Planning

-        Nodal Surcharge Filing

-        Credit Update

S Byone

9:05 a.m.

Adjourn to Executive Session

-        SAS 70 Audit Planning (10 min)

-        Introduction of new Director, Internal Audit

-        Review Significant Audit Findings

-        EthicsPoint Update

-        Review Status of Annual Audit Plan

J Brenton

C Karnei

B Wullenjohn

9:10 a.m.

Adjourn

9:50 a.m.