Item

Topic

Topic Type

Presenter

Time

1.       

Call open session to order and announce proxies

Discussion

Clifton Karnei

1:00 pm

2.       

Approve general session minutes (2/20/2012)

Vote

Clifton Karnei

3.       

Review and recommend board approval of revisions to ERCOT’s Surety Bond Standard Form

Vote

Chad Seely

4.       

Review debt structure recommended by management

Discussion

Leslie Wiley

5.       

Review management’s recommended 2013 budget

Discussion

Mike Petterson

6.       

Review adequacy of and recommend board approval of the Finance and Audit Committee charter

Vote

Clifton Karnei

7.       

Review adequacy of Credit Work Group charter

Vote

Mark Ruane

8.       

Receive periodic report on Credit Work Group  activity

Discussion

Tamila Nikazm

9.       

Review and recommend board approval of the Financial Corporate Standard

Vote

Leslie Wiley

10.   

Review and recommend board approval of the Investment Corporate Standard

Vote

Leslie Wiley

Break

--

--

11.   

Authorize engagement of the independent auditor to perform non-audit services

Vote

Rebecca Beckham

12.   

Review Committee briefs

a.       Periodic report on financial institutions that are also Market Participants

b.      Options for Committee member training

c.       Periodic report on investments

d.      Periodic report on audit activity

Discussion

Mike Petterson

13.   

Receive periodic report from ERCOT’s independent auditor

Discussion

Ernst & Young

a.       Discuss audited financial statements

Discussion

Ernst & Young

b.   Receive education on accounting developments

Discussion

Ernst & Young

c.    Review and recommend board acceptance of 2011 audited financial statements

Vote

Clifton Karnei

14.   

Future agenda items

Discussion

Mike Petterson

15.   

Other business

Discussion

Mike Petterson

Convene to executive session

Clifton Karnei

16.   

Approve executive session minutes (2/20/2012)

Vote

Clifton Karnei

17.   

Discuss the annual audit and significant issues with ERCOT’s independent auditors

Discussion

Ernst & Young

18.   

Receive periodic report on internal audit activity from the Chief Audit Executive

Discussion

Bill Wullenjohn

19.   

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

Discussion

Clifton Karnei

Reconvene to open session

--

--

20.   

Vote on matters from executive session

Vote

Clifton Karnei

Adjourn meeting

Clifton Karnei

5:00 pm