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) (7/20/10)

C. Karnei

7:32am

c.  2009 compensation for unaffiliated members of the Board of Directors

B. Magness

7:33am

d.  Internal Audit status report

B. Wullenjohn

7:40am

e.  Internal Audit 2010 goals update

B. Wullenjohn

7:45am

f.  Developing the risk-based 2011 audit universe and proposed audit plan

B. Wullenjohn

7:50am

g.  EthicsPoint update

B. Wullenjohn

8:00am

h.  Quarterly private discussion with Chief Audit Executive

B. Wullenjohn

8:10am

3.

Contracts, personnel, litigation and security

Various

8:15am

Recess Executive Session

8:20am

Convene General Session

4.

Approval of general session minutes (Vote) (07/20/10)

C. Karnei

8:20am

5.

Review assumptions and preliminary schedules for the 2011 annual operating budget

M. Petterson

8:21am

6.

Nodal credit risk profile and status    

C. Yager

8:50am

7.

Discussion of Market Credit Risk Standard audit requirement for 2010

C. Yager

9:15min

8.

Follow-up to Commissioner Anderson’s question regarding investment risk and diversification

C. Yager

9:20am

9.

Review of First Priority Security Interest Agreement

C. Seely

9:30am

10.

Committee Briefs (Q&A only)

All

9:40am

11.

Future agenda items

M. Petterson

9:45am

12.

Other business

M. Petterson

9:47am

Adjourn ISO meeting

C. Karnei

9:50am