Call Open Session to order and announce proxies

Clifton Karnei

11:30am

1.

Approve general session minutes (6/20/11)

Clifton Karnei

2.

Review proposed 2012 budget

Misti Hancock

3.

Update on Commodities Exchange Act exemption

Mark Ruane

4.

Recommend changes to standard forms of Letter of Credit and Market Participant Guarantee Agreements

Chad Seely

5.

Credit update - procedures for setting nodal day-ahead market credit requirement parameters

Mark Ruane

6.

Review Committee briefs

Mike Petterson

7.

Future agenda items

Mike Petterson

8.

Other business

Mike Petterson

Convene to Executive Session

Clifton Karnei

9.

Approve executive session minutes (6/20/11)

Clifton Karnei

10.

a.  Internal Audit status report

Bill Wullenjohn

b.  Discussion of Internal Audit staffing for 2012

Bill Wullenjohn / Trip Doggett

c.  Quarterly Update on EthicsPoint Historical Metrics and Trends

Bill Wullenjohn

d.  EthicsPoint update

Bill Wullenjohn

e.  Quarterly Private Discussion with Chief Audit Executive

Bill Wullenjohn

11.

Contract, personnel, security, compliance, risk management, litigation and regulatory matters

Clifton Karnei

Reconvene to Open Session

Adjourn meeting

Clifton Karnei

2:00pm