1.

Call to order Executive Session

C. Karnei

7:30am

2.

a.  Announcement of proxies

C. Karnei

7:31am

b.  Approval of executive session minutes (Vote) (07/21/09)

C. Karnei

7:32am

c.  Internal Audit status report

B. Wullenjohn

7:33am

d.  Internal Audit 2009 goals update

B. Wullenjohn

7:35am

e.  Update on timeline for 2010 Internal Audit plan

B. Wullenjohn

7:45am

f.  IIA Guidance - The Audit Committee:  Internal Audit oversight

B. Wullenjohn

7:50am

g.  EthicsPoint update

B. Wullenjohn

7:55am

h.  Summary of external auditors response to RFP

M. Petterson

8:00am

3.

Contracts, personnel, litigation and security

Various

8:20am

Recess Executive Session

8:25am

Convene General Session

4.

Approval of general session minutes (Vote) (07/21/09)

C. Karnei

8:25am

5.

Review guidelines for and approval of engagement of external auditors for other services (Vote)

M. Petterson

8:26am

6.

PricewaterhouseCoopers audit update

S. Barry

8:30am

7.

Credit briefing - potential future exposure

R. Baker / C. Yager

8:45am

8.

Recommend 2010 base operating budget

B. Kahn / M. Petterson

9:15am

9.

Standing investment update (Vote)

C. Yager

9:30am

10.

Committee Briefs (Q&A only)

All

9:40am

11.

Future agenda items

S. Byone

9:45am

Adjourn ISO meeting

C. Karnei

9:50am