Open Session 10 am - 11:30 am

1. Approval of Minutes of December, 2005 meeting

2. NSB Chairman’s Remarks

3. Update on Plan to address Reportable Conditions of FY2004 Audit

• Post-award Administration
• Contract Monitoring

4. Congressional request for NSB examination of the NSF Merit Review System

5. FY 2004 Merit Review Report

6. Business Analysis update—Items related to Merit Review

7. Chief Financial Officer’s Update

• FY2004 audit - Management Letter status report
• OMB Circular A-123 “Management's Responsibility for Internal Control (Effective beginning with Fiscal Year 2006)” (Revised 12/21/2004)

8. The Sarbanes Oxley Act and its implications for the National Science Foundation.

9. The process of selecting financial statement auditors

Closed Session (estimated) 11:30 am – Noon

1. Pending Investigations

 

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