Call to Order

C. Karnei

7:30 AM

1.

Approval of July 19, 2005 Minutes

C. Karnei

(5 min)

2.

Financial

• Floating vs Fixed Rate -- Update
• 2004 Audited Financials -- Acceptance Recommendation

S. Byone

R. Bowman

(5 min)

(5 min)

3.

2006 Budget Presentation

M. Petterson/D. Kasper

(15 min)

4.

Credit Update

• Status of TAC Task Force activity
• Status of TNT Credit
• Collateral Status with QSE’s

C. Yager

(20 min)

5.

Capitalized Project Update

R. Connell

(10 min)

6.

Enterprise Risk Management (ERM)

S. Byone

(5 min)

7.

Internal Control Management Process (ICMP)

S. Byone

(5 min)

8.

Selection process for 2006 Auditors

R. Bowman

(5 min)

9.

Future Agenda Items

• ICMP Implementation Plan
• ERM Program Review
• SAS 70 Update by PricewaterhouseCoopers
• 2004 Management Recommendations by PricewaterhouseCoopers

R. Bowman/T. Schrader

(10 min)

Next Finance & Audit Committee Meeting -- September 20, 2005

Adjourn to Executive Session

C. Karnei

9:00 AM