Has been observed on WS-C3750X-48P stack switches running 12.2(55)SE3 or 12.2(58)SE1. 

"show env all" shows power supply status are ok, but snmpwalk of CISCO-ENVMON-MIB/ciscoEnvMonSupplyState shows that power supply 1 is faulty and not functioning (6)

The result is that we are continually getting the alert (I think from SNMP polling). 

Hardware Sensor Name : Sw2, PS1 Faulty, RPS NotExist. Category : power. Current State : notFunctioning(6) - The sensor is operating under critical or fatal conditions. This may directly affect the functioning of both the sensor and related components.

snmpwalk output:
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SNMPv2-SMI::mib-2.47.1.1.1.1.2.1058 = STRING: "FRU Power Supply"
SNMPv2-SMI::enterprises.9.9.13.1.5.1.2.1058 = STRING: "Sw1, PS1 Faulty, RPS NotExist"
SNMPv2-SMI::enterprises.9.9.13.1.5.1.3.1058 = INTEGER: 6
SNMPv2-SMI::enterprises.9.9.13.1.5.1.4.1058 = INTEGER: 2

I don't have a monitor setup looking at this OID in particular, so wondering where this polling is setup, and how can can exclude this from being monitored?