DRAFT

POWER AUTHORI= TY OF THE STATE OF NEW YORK
2010 YTD REPO= RT OF DISPOSAL OF PERSONAL PROPERTY OVER $5,000
FLEET OPERATI= ONS

DESCRIPTION	PURCHASER	SALE P= RICE	Commission/ Transpor= tation Fees	PRICE = RECEIVED * &nbs= p; by the Authority

1994 EAGER BEAVER TRAILER	CRASH SCRAP METALS INC	$11,000.= 00	$580.00 =	$10,420.= 00
1995 CLARK FORKLIFT	APOLLO NORTHEAST SALES & SVCS INC<= /b>	$6,250.0= 0	$325.00 =	$5,925.0= 0
1996 DODGE D2500 PICKUP	SDE EQUIPMENT SALES	$6,999.0= 0	$8.00	$6,991.0= 0
1998 CHEVY K3500 PICKUP	UPSTATE AUTO SALES INC	$5,600.0= 0	$418.00 =	$5,182.0= 0
1998 INTR AERIAL MANLIFT	RICHARD MARKIEL	$27,500.= 00	$1,030.0= 0	$26,470.= 00
1998 MACK SNOW PLOW	VILLAGE TRUCK SALES	$10,500.= 00	$520.00 =	$9,980.0= 0
1998 NEW HOLLAND TRACTOR	CASSONE TRUCK SALES & LEASING INC<= /b>	$13,500.= 00	$589.00 =	$12,911.= 00
1999 FORD F350	UPSTATE AUTO SALES INC	$6,500.0= 0	$445.00 =	$6,055.0= 0
1999 FORD F550	UPSTATE AUTO SALES INC	$6,950.0= 0	$458.50 =	$6,491.5= 0
1999 HICO HT081-8	CC POWER LLC	$27,000.= 00	$1,060.0= 0	$25,940.= 00
1999 HICO HT081-8	CC POWER LLC	$23,000.= 00	$815.00 =	$22,185.= 00
1999 HICO HT081-8	4496213 CANADA INC	$21,000.= 00	$880.00 =	$20,120.= 00
1999 KENWORTH T80 TRACTOR	JABLONSKI EXCAVATING INC	$11,500.= 00	$595.00 =	$10,905.= 00
2000 CHEVY CUBE VAN	UPSTATE AUTO SALES INC	$6,850.0= 0	$455.50 =	$6,394.5= 0
2000 FORD EXPEDITION	RIDGE ROAD LEASING LLC	$5,700.0= 0	$421.00 =	$5,279.0= 0
2001 CHEVY K2500	UPSTATE AUTO SALES INC	$6,500.0= 0	$379.00 =	$6,121.0= 0
2001 CHEVY TAHOE	JACOB SKABELUND	$6,250.0= 0	$387.50 =	$5,862.5= 0
2001 CHEVY TAHOE	LISA NAI	$6,000.0= 0	$380.00 =	$5,620.0= 0
2001 DODGE D2500	UPSTATE AUTO SALES INC	$7,500.0= 0	$475.00 =	$7,025.0= 0
2001 DODGE D3500	UPSTATE AUTO SALES INC	$6,950.0= 0	$392.50 =	$6,557.5= 0
2001 FORD F550	RIDGE ROAD LEASING LLC	$16,500.= 00	$695.00 =	$15,805.= 00
2002 CHEVY TAHOE	NANCY PECKHAM	$9,100.0= 0	$473.00 =	$8,627.0= 0

POWER AUTHORI= TY OF THE STATE OF NEW YORK
2010 YTD REPO= RT OF DISPOSAL OF PERSONAL PROPERTY OVER $5,000
FLEET OPERATI= ONS

DESCRIPTION	PURCHASER	SALE P= RICE	Commission/ Transpor= tation Fees	PRICE = RECEIVED * &nbs= p; by the Authority
2002 CHEVY TAHOE	UPSTATE AUTO SALES INC	$6,000.0= 0	$380.00 =	$5,620.0= 0
2003 CHEVY TAHOE	ROBERT DAWES	$7,900.0= 0	$437.00 =	$7,463.0= 0
2003 CHEVY TAHOE	CHRIS BUSHNELL	$5,500.0= 0	$365.00 =	$5,135.0= 0
2003 CHEVY TAHOE	MCGUIRE TREE REMOVAL	$8,100.0= 0	$443.00 =	$7,657.0= 0
2003 CHEVY TAHOE	M & J CONSTRUCTION CO	$7,700.0= 0	$431.00 =	$7,269.0= 0
2003 HONDA CIVIC	ROADRUNNER EXPRESS LUBE LLC	$6,500.0= 0	$445.00 =	$6,055.0= 0
2003 HONDA CIVIC	ROADRUNNER EXPRESS LUBE LLC	$6,500.0= 0	$445.00 =	$6,055.0= 0
2003 HONDA CIVIC	DAVID WILSON	$6,750.0= 0	$452.50 =	$6,297.5= 0
2004 BOBCAT TOOLCAT LOADER	W E MCCARTHY INC	$18,000.= 00	$1,122.2= 5	$16,877.= 75
2004 CHEVY TAHOE	QUICK STOP EXPRESS INC	$6,250.0= 0	$437.50 =	$5,812.5= 0
2004 CHEVY TAHOE	QUICK STOP EXPRESS INC	$6,250.0= 0	$387.50 =	$5,862.5= 0
2004 CHEVY TAHOE	W & W DIRT WORX	$6,500.0= 0	$425.00 =	$6,075.0= 0
2004 CHEVY TAHOE	W & W DIRT WORX	$6,500.0= 0	$395.00 =	$6,105.0= 0
2004 TOYOTA PRIUS	CARSBAZAR INC	$5,750.0= 0	$402.50 =	$5,347.5= 0
2004 TOYOTA PRIUS	BARBARA MCCONNELL	$5,750.0= 0	$402.50 =	$5,347.5= 0
2004 TOYOTA PRIUS	CARSBAZAR INC	$6,000.0= 0	$430.00 =	$5,570.0= 0
2004 TOYOTA PRIUS	AMBER HORNYAK	$5,500.0= 0	$395.00 =	$5,105.0= 0
2004 TOYOTA PRIUS	CARSBAZAR INC	$5,750.0= 0	$402.50 =	$5,347.5= 0
2004 TOYOTA PRIUS	CARSBAZAR INC	$5,750.0= 0	$402.50 =	$5,347.5= 0
2005 CHEVY TAHOE	QUICK STOP EXPRESS INC	$5,200.0= 0	$386.00 =	$4,814.0= 0
2005 FORD ESCAPE	KELVIN WIEBE	$6,500.0= 0	$445.00 =	$6,055.0= 0
2005 FORD F250 PICKUP	THE OL' STATION LLC	$9,500.0= 0	$485.00 =	$9,015.0= 0
POWER AUTHORI= TY OF THE STATE OF NEW YORK
2010 YTD REPO= RT OF DISPOSAL OF PERSONAL PROPERTY OVER $5,000
FLEET OPERATI= ONS

DESCRIPTION	PURCHASER	SALE P= RICE	Commission/ Transpor= tation Fees	PRICE = RECEIVED * &nbs= p; by the Authority

2007 CAMOPLAST&n= bsp; CAB	PRINOTH LTD	$15,000.= 00	$5.00	$14,995.= 00
2007 CAMOPLAST&n= bsp; CAB	PRINOTH LTD	$15,000.= 00	$5.00	$14,995.= 00
2007 CAMOPLAST&n= bsp; CAB	PRINOTH LTD	$15,000.= 00	$5.00	$14,995.= 00
2007 CHEVY TAHOE	PAUL BURGESS JR	$17,750.= 00	$762.50 =	$16,987.= 50
2008 CHEVY AVALANCHE	QUICK STOP EXPRESS INC	$12,750.= 00	$632.50 =	$12,117.= 50


	FLEET SU= BTOTAL:	$478,299= .00	$23,108.= 75	$455,190= .25

	+ SUBTOT= AL Page 1:	$65,186.= 66	--	$65,186.= 66

	GRAND TO= TAL:	$543,485= .66	$23,108.= 75	$520,376= .91

2.3          Acqui= sition and Disposal of Real Property

Mr. O’Connor reported on the on the acquisition and disposal of real property during the period from July 1 – September 20, 2010. Three outstanding transfers of jurisdiction were concluded between the Authority and the New York State Department of Transp= ortation. Nine danger tree permits were acqu= ired, which permits the Authority to eliminate dangerous vegetation on transmissi= on lines. This is critical to the safe operation of the New York State transmission grid and to North American Electric Reliability Corporation (N= ERC) critical infrastructure compliance. The transmission facilities covered by these danger tree permits include the Niagara-Adirondack, Fitz-Edic, Willis-Plattsburgh, Plattsburgh-Vermont, Gilboa-New Scotland and Moses-Willis-Plattsburgh lines. This is an on-going effort. Six land use permits were issued for use of the Authority’s easement areas. These permits, with their accompanying insurance requiremen= ts, assure that use of the Authority’s easements is consistent with the operation of its transmission lines.

The Author= ity maintains facilities which it leases or subleases out to various tenants. The available space in the buildin= g at 123 Main Street is essentially 100% leased.

The Authority had agreed to convey 5= 99 acres to adjoining towns or adjoining landowners by license agreement. To d= ate, 510 of the 599 acres have been conveyed.&n= bsp; During this period, 17 deeds to private adjoining landowners were finalized and recorded in the County Clerk’s office. Further, four deeds were transmitt= ed for the landowner’s execution, of which 3 deeds remain unsigned and 19 de= eds are awaiting final payment and acceptance of delivery by the landowner. At this time, the Authority has collected $724,868 for the private parcels conveyed.

2.4          Suppl= ier Diversity Program Activities =

Ms. Pasquale highlighted the Authority’s online utilization website for construction contractors, which went live the first of September. This was in response to a 2009 state law that requires contractors to post their utilization plans for New York State Certified Minority and Women-Owned Businesses (“M/WBEs”).= It is accessible through the NYPA.gov website.

Ms. Leto said the Authority had awar= ded $24.5 million dollars (11% of the Authority’s reportable expenditures= ) to M/WBE enterprises. The state goal is 6%. Year to date, = six different M/WBE financial dealers transacted over $300 million or 27.23% in principle sales and purchases for the Authority. Additionally, two of the 12 legal contracts were awarded to M/WBEs during this quarter. Four new pieces of M/WBW legislation passed this quarter. These new laws are being incorporated into our policies and procedures.

Committee Chairman Nicandri asked th= at this information be forwarded to Trustee O’Luck.

2.5          Inven= tory Statistics

Ms. Leto reported that as of Septemb= er 30, the current stock value was $89,506,095 million. This figure includes $= 1.7 million reduction for field poles issued to the NIA Rotor Poles Replacement project in 2009; additional spare parts associated with B/G LEM and Switchy= ard upgrades and additional stock requirements in preparation for Flynn 2011 outage.      =

= ;

&nbs= p;            &= nbsp; The construction of the new Niagara Warehouse began in March 2010 and construct= ion is proceeding on schedule. Construction completion of the new Niagara Wareh= ouse and Office Facility is scheduled for July, 2011.

<= /p>
Facility

<= /p>
2010

<= /p>
2009

<= /p>
2008

Niagara

18,294,572

*18,= 101,620

20,087,110

St. Lawrence

11,594,001

12,018,161

12,321,893

Blenheim-Gilboa

**7,383,455

6,004,365

5,924,953

Clark Energy Center

4,352,226

4,448,879

4,244,765

Poletti Project

14,483,476

14,340,348

14,243,881

Flynn Project

***13,288,533

12,149,737

12,157,549

500 MW Project

20,109,832

19,232,718

19,191,946

Total Stock Value<= span style=3D'font-size:10.0pt;line-height:150%'>

$89,506,095

$86,295,828

$88,172,097

2.6          Fossil Fuel Activities

=

Mr. Mullin said that the total fuel purchases and related costs for the period of January – September 2010 was $162 million. Natural gas purchases and associated costs came to $161.5 million of the $162 million. The balance was spent on fuel oil and associat= ed costs. There were 27 natural gas and oil contracts in total and all purchas= es were subjected to competitive bidding.

2.7          Corpo= rate Finance Activity <= /u>

Ms. Sramek reported that the “Corporate Finance Addendum” for the Annual Report of Procureme= nt Contracts identifies non-procurement items paid during the year for unique = and specialized financial services requiring a broad depth of knowledge and expertise. The total to date for 2010 is $1.4 million. These non procurement items include trustee and paying agent services, commercial paper remarketi= ng services, escrow agent services and fees paid for revolving credit agreements supporting the Authority’s Variable Rate Debt Program. Approximately$714,000 or 50% of th= e $1.4 million was associated with the Authority’s revolving credit agreemen= ts.

3.            = ; Recent Developments and Status of NYPA’s Ethics and Compliance Program<= /o:p>

      &= nbsp;         Mr. Gryzlo presented the Authority’s Ethics and Compliance Program update. There continues to be an upward trend in case inquiries in the Ethics and Complia= nce arena. The key categories of ethics issues are: outside activities and employment, post employment, gifts and conflicts of interest. The report highlights a few cases but it is not comprehensive. One case, which contains both ethics and compliance issues, involves a number of former Authority employees that are now employed by the North East Power Coordinating Counci= l, Inc. (“NPCC”). The NPCC is the regional entity responsible for assessing and enforcing the North America Electric Reliability Corporation (“NERC”) Reliability standards. These employees are subject to = the New York State Ethics Laws. There are post employment restrictions that are= applicable to them. The Authority has counseled these former employees and engaged the= ir new employer.

= ;

        &= nbsp;       In response to a question by Chairman Nicandri, Mr. Gryzlo said that the Authority’s Human Resources department conducts exit interviews with every employee who separates from the Authority which includes a review of = the ethics post-employment restrictions and other ethics considerations.

= ;

        &= nbsp;       In response to a question by Trustee Patrick Curley, Mr. Gryzlo said that we h= ave not been formally challenged by a former employee regarding post employment restrictions.

= ;

        &= nbsp;       Mr. Gryzlo said another key component of the ethics and compliance program is training and outreach. A session for new supervisors was recently held as p= art of Human Resources’ Supervisory Development Training. The objective i= s to make all NYPA staff aware that the Ethics and Compliance office is a resour= ce and to increase awareness of the Code of Conduct and ethics and compliance expectations.

= ;

        &= nbsp;       In terms of compliance NPCC will be conducting a full scale audit in April 201= 1 of NYPA’s compliance with NERC Reliability standards, which will take pl= ace off site. The Critical Infrastructure Protection (“CIP”) Standa= rds portion of the audit will be conducted on site. The Authority’s Inter= nal Audit department recently completed an audit of the Authority’s compliance with CIP standards and made recommendations to strengthen certain components of the program.

Internal Audit also completed an assessment of the Authority’s compliance with the Public Authorities = Law, including the 2009 amendments contained in the Public Authorities Reform Ac= t. The assessment concluded that compliance processes and related internal controls are effective.

4.      =              Amendments= to Governance Charter

= ;

        &= nbsp;       Ms. Terryl Brown said the Governance Committee Charter had been amended, at the request of the Authority’s Chairman Townsend, to expand the number of Trustees who may be members from three members to “up to five” members.
= ;

        &= nbsp;       A motion by Trustee Curley to recommend the adoption of the amended Governance Committee Charter to the full NYPA Board of Trustees was unanimously adopte= d.

= ;

= ;

5.  &nbs= p;          = Motion to Conduct an Executive Session

        &= nbsp;           &nbs= p;           =

“Mr. Chairman, I move that the Governance Committee conduct an executive session pursuant to Section 105 of the Public Officers Law in connection with discussions relating to matters concerning employment.” On motion made and seconde= d, an Executive Session was held.

=

6. = &nb= sp; Motion to Resume Meeting in Open Session<= b>

“Mr. Chairm= an, I move to resume the meeting in Open Session.” On motion made and seconded, the meeting resumed in open session.

Next Meeting

The next regular meeting of the Governance Committee is to be determi= ned.

&= nbsp; A motion to adjourn was adopted and the meeting closed at approximately 10:00 a.m.

October 26, 2010

Trustee Eugene L. Nicandri, Chairperson

Trustee D. Patrick Curley

Vice Chairman Jonathan Foster was excused from attending.

Als= o in attendance were:

<= /p> Facility	<= /p> 2010	<= /p> 2009	<= /p> 2008
Niagara	18,294,572	*18,= 101,620	20,087,110
St. Lawrence	11,594,001	12,018,161	12,321,893
Blenheim-Gilboa	**7,383,455	6,004,365	5,924,953
Clark Energy Center	4,352,226	4,448,879	4,244,765
Poletti Project	14,483,476	14,340,348	14,243,881
Flynn Project	***13,288,533	12,149,737	12,157,549
500 MW Project	20,109,832	19,232,718	19,191,946
Total Stock Value<= span style=3D'font-size:10.0pt;line-height:150%'>	$89,506,095	$86,295,828	$88,172,097