1.

Call to order Executive Session

C. Karnei

8:15am

 2.

a.  Approval of executive session minutes (Vote) (04/15/08)

C. Karnei

8:15am

b.  Approval of Internal Audit department charter (Vote)

B. Wullenjohn

8:17am

c.  Internal Audit status report

B. Wullenjohn

8:20am

d.  Internal Audit 2008 Goals Update

B. Wullenjohn

8:25am

e.  EthicsPoint update

B. Wullenjohn

8:30am

f.  Review of ERCOT security projects

J. Brenton

8:35am

g.  Review insurance coverage(s)

C. Yager

8:50am

Recess Executive Session

9:00am

Convene General Session

 3.

Approval of general session meeting minutes (Vote) (04/03/08) (04/15/08)

C. Karnei

9:00am

 4.

Final review of proposed 2009 budget, proposed fees and financial performance measures (Vote)

M. Petterson

9:02am

 5.

Application of the 2007 actual vs budget revenue requirement variance (Vote)

M. Petterson

9:15am

 6.

Financial audit - Review/acceptance of final changes

M. Petterson

9:20am

 7.

Review procedures for handling reporting violations

M. Petterson

9:25am

 8.

Update on Credit Work Group activities

A. List / C. Yager

9:30am

 9.

Committee Briefs (Q&A only)

All

9:40am

 10.

Future agenda items

S. Byone

9:45am

Adjourn ISO meeting

C. Karnei

9:50am