I don't know the time frame here, but ordinarily, the NCAA will issue a preliminary, confidential, report for the institution to respond to. It has nothing about sanctions, just getting an agreement on the facts and making sure that the facts are the facts. Then the NCAA will issue its "final" report based on whatever comes out of that preliminary review which contains no sanctions, but asks the institution to propose them instead: it is an interesting approach of asking the condemned whether he would enjoy a hanging or a firing squad instead, "your choice!" Except that the NCAA may or may not accept the suggestion and impose drowning instead. The NCAA's approach to penalties and its manner of imposing them in college football would likely offend the Geneva Convention.
So, the "institution" gets a couple of looks at the "report," in progress, without knowing really where the NCAA might be headed, since the NCAA isn't at that point in the process itself. I "understand" without any insider knowledge whatsoever, that the "process" is being finalized, and so there has been some readings of the investigation report, but no knowledge of what the final outcome may be.