Call Open Session to order and announce proxies

Clifton Karnei

10:00am

1.

Approve general session minutes (7/18/11)

Clifton Karnei

2.

Recommend 2012 base operating budget and project priority list

Misti Hancock

3.

Review results of and vote on acceptance of the 2010 401(k) audit report

Bruno Ierullo

4.

ERCOT response to national debt ceiling issues

Mike Petterson

5.

Review and recommend updated Investment Corporate Standard

Leslie Wiley

6.

Update on Commodities Exchange Act exemption

Mark Ruane

7.

Review Committee briefs

Mike Petterson

8.

Future agenda items

Mike Petterson

9.

Other business

Mike Petterson

Convene to Executive Session

Clifton Karnei

10.

Approve executive session minutes (7/18/11)

Clifton Karnei

11.

a.  Internal Audit status report

Bill Wullenjohn

b.  Update on 2011 Internal Audit plan

Bill Wullenjohn

c.  Update on timeline for 2012 Internal Audit plan

Bill Wullenjohn

d.  Quarterly update on Internal Audit goals

Bill Wullenjohn

e.  EthicsPoint update

Bill Wullenjohn

12.

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

Clifton Karnei

Reconvene to Open Session

Adjourn meeting

Clifton Karnei

11:30am