A consultant group looking into the insolvency of Laurentian University and how it can move forward out of bankruptcy has released two reports.
Laurentian hired the Nous Group to investigate its operations and governance with the reports released through a Zoom call with nearly 400 people listening in last week.
A press release issued by Laurentian followed proposing a program to improve seven core areas including strategy, service delivery, financial performance, structure, processes, technology and digital platforms, as well as capability and capacity.
The program would take at least three years and cost between $26 to $32.5 million dollars.
The consultants also recommend a new strategic plan; consolidation of all student services; implementation of new financial planning, budgeting and reporting practices; restructuring of administrative functions and a focus on risk and records management.
As for the second report, there are 37 recommendations to improve the university’s governance of the board and senate.
Implementation of the recommendations is to begin immediately.
The complete reports are available at https://www.laurentianu.info/nous-reports/?