Call to Order

C. Karnei

7:30 AM

1.

Approval of April 14, 2005 Minutes

C. Karnei

(5 min)

2.

Compliance Review

M. Walker
S. Barry

(20 min)

3.

Financial

• Sources & Uses of Cost Savings Funds

M. Petterson

(10min)

4.

Audit Updates

• Restatement of 2003 Financials
• Internal Audit Update

S. Barry
E. Ettorre

(10 min)
(10 min)

5.

Large Project Update

• (4) Large projects in planning

R. Connell

(10 min)

6.

Insurance Review (D&O/E&O)

C. Brandt

(20 min)

7.

Future Agenda Items:

• Frequency of Board of Directors Meetings
• Bylaws Revisions

T. Schrader
M. Walker

(5 min)

Next Finance & Audit Committee Meeting -- June 21, 2005

Adjourn to Executive Session

C. Karnei

9:00 AM