1.

Call to order General Session

C. Karnei

8:30am

 2.

Approval of general session minutes (Vote) (11/17/08)

C. Karnei

8:30am

 3.

Guarantee agreements - CWG feedback

A. List / C. Yager

8:31am

 4.

Claim Audit of ERCOT Health Plan by Sagebrush Solutions

N. Capezzuti

8:45am

 5.

2008 SAS 70 audit report

S. Barry

8:50am

 6.

Review and approval of January 2009 operating budget (Vote)

M. Petterson

9:00am

 7.

Review listing of dealings with financial institutions that are also market participants

C. Yager

9:10am

 8.

Investment update - accounting for potential loss in Primary Fund (Vote)

M. Petterson / C. Yager

9:15am

 9.

Review results of Finance & Audit Committee self assessment

All

9:25am

 10.

Committee Briefs (Q&A only)

All

9:35am

 11.

Future agenda items

S. Byone

9:37am

Recess General Session

9:40am

Convene Executive Session

 12.

a.  Approval of executive session minutes (Vote) (11/17/08)

C. Karnei

9:40am

b.  Approval of 2009 Internal Audit plan (Vote)

B. Wullenjohn

9:41am

c.  Internal Audit status report

B. Wullenjohn

9:50am

d.  Internal Audit staffing and budget update

B. Wullenjohn

9:55am

e.  EthicsPoint update

B. Wullenjohn

10:00am

f.  Discussion with executive management

B. Kahn / S. Byone

10:05am

g.  Assessment of the adequacy and effectiveness of the Internal Audit staff

B. Wullenjohn

10:15am

h.  Contracts, personnel, litigation and security

B. Kahn / M. Grable

10:25am

Adjourn ISO meeting

C. Karnei

10:30am