1.

Call to order Executive Session

C. Karnei

7:30am

2.

a.  Approval of executive session minutes (Vote) (09/16/08)

C. Karnei

7:30am

b.  Discuss ERCOT nepotism policy

N. Capezzuti

7:33am

c.  Internal Audit status report

B. Wullenjohn

7:40am

d.  EthicsPoint update

B. Wullenjohn

7:42am

e.  Review draft 2009 Internal Audit plan

B. Wullenjohn

7:50am

f.  Discuss responsibility for performing REC program audits

B. Wullenjohn

8:10am

g.  Internal Audit resources discussion

B. Wullenjohn

8:15am

h.  Quarterly private discussion with Chief Audit Executive

B. Wullenjohn

8:20am

i.  Debt financing proposal

C. Yager

8:25am

Recess Executive Session

8:35am

Convene General Session

3.

Approval of general session meeting minutes (Vote) (09/16/08)

C. Karnei

8:35am

4.

Debt financing proposal (Vote)

C. Yager

8:37am

5.

Debt and liquidity update

C. Yager

8:45am

6.

Quarterly review of investment results

C. Yager

8:50am

7.

Approval of engagement of external auditor for other services (Vote)

M. Petterson

8:55am

8.

External auditor independence and review of the 2008 financial audit plan

S. Barry

9:05am

9.

Updates to the standard form guarantee (Vote)

C. Seely

9:10am

10.

Credit update draft credit standard

C. Yager

9:25am

11.

Financial update

M. Petterson

9:35am

12.

Budget planning - Updated Nodal budget; 2009 updated base operations; 2010

M. Petterson

9:40am

13.

Committee Briefs (Q&A only)

All

9:45am

14.

Future agenda items

S. Byone

9:50am

Adjourn ISO meeting

C. Karnei

9:55am