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[[underlined]] GAO Review [[/underlined]]

Mr. Ripley advised that the GAO team has completed about 75 percent of its draft report and expects to have the remainder completed within a few days. The draft is beginning to be reviewed within GAO and we might expect to see the document around the end of January. It is uncertain how much time we will be allowed to review the draft and comment upon it. Two weeks were mentioned, but we agreed that the time allowance hinges in part on what the report says.

It is likely that Mr. Cookfair, the GAO audit team supervisor, will deliver the draft report to Mr. Ripley, outline its conclusions, and provide an opportunity for some discussion.

[[underlined]] Adjournment [[/underlined]]

The meeting adjourned at 12:45 p.m.

[[underlined]] Next Meeting [[/underlined]]

The Regents will be polled concerning a date for the next meeting. Tentative dates mentioned were:

-- Dinner: Thursday evening, May 12, 1977

-- Regents Meeting: Friday morning, May 13, 1977

-- Dinner: Sunday evening, May 15, 1977

-- Regents Meeting: Monday morning, May 16, 1977

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