Laurentian board of governors approves 2020-21 financials, including restructuring of $79.1M

Laurentian University’s board of governors has approved the institution’s 2020-21 financials, reports CBC. The report, which was reportedly over four months late, included restructuring costs of $79.1M. However, Laurentian indicated that it would have had $13.2M in surplus if not for the restructuring costs, which included the cost of cancelled interest-rate swaps and all severances. “We have, on the whole, a good roadmap for what needs to be fixed going forward,” said board chair Jeff Bangs. Disrupters briefly staged a Zoom bombing near the beginning of the presentation with “rude comments,” graphic imagery, and disruption, but were quickly removed from the meeting. CBC| Sudbury Star Note: Archived stories may contain dead links or be missing source links.