A group of consultants examining Laurentian University’s insolvency and how it can emerge from bankruptcy has released two reports.
Laurentian has engaged the Us group to investigate its operations and governance with the reports released via a Zoom call with nearly 400 people listening last week.
A press release issued by Laurentian followed proposing a program to improve seven key areas, including strategy, service delivery, financial performance, structure, processes, technology and digital platforms, and capabilities. .
The program would take at least three years and cost between $26 million and $32.5 million.
The consultants also recommend a new strategic plan; consolidation of all student services; implementing new financial planning, budgeting and reporting practices; restructuring of administrative functions and focus on risk and file management.
As for the second report, it contains 37 recommendations to improve the governance of the board of directors and the senate of the university.
Implementation of the recommendations should begin immediately.
Full reports are available at https://www.laurentianu.info/us-reports/?