Michael Massimiliano

The meeting included a learning session on the biology of obesity, reports from the President and Senate representative, and a financial update. Key action items included approval of the 2025-2026 Board Standing Committee work plans, amendments to the policy on naming, annual pension governance report, and investment asset review. The Board also reviewed governance committee items, such as the appointment of a Board Vice-Chair and committee appointments, alongside audit and risk committee items, including the Research Ethics Board chair renewal. Additionally, human resources committee items were presented for information regarding performance goals for the President and Vice-Chancellor.

The Board of Governors held a special meeting to discuss the Laurentian University Retirement Plan. Key discussion items included the approval of an actuarial valuation report, amendments to the retirement plan, a review of the plan's funded status and investment performance, and reports from the Chancellor Selection Committee and the Joint Committee on Honorary Degrees.

The Board of Governors discussed various institutional matters including the President's report on academic programming and partnership development. Key actions included the approval of budget increases for multiple building roofing and exterior stair/walkway renewal projects, the reappointment of external auditors, and the nomination of a new board member. The Board also reviewed updates on the transformation program, financial reports, ancillary fees and the operating budget, endowment distribution rates, and gift acceptance policy amendments. Furthermore, an enrolment update was provided, and the meeting concluded with discussions regarding the procedures of previous meetings.

The board discussed the updated actuarial valuation results of the Laurentian University of Sudbury retirement plan, which indicated a strong financial position. A significant portion of the meeting was dedicated to reviewing benefit improvements under the Benefits and Funding Policy. The board approved the implementation of Scenario 5 for benefit improvements at an estimated cost of $13,901,000, along with necessary plan text amendments. This decision was made to restore concessions previously made by faculty and staff, with the board accepting the associated financial risks.

The Board of Governors discussed a wide range of institutional business including the 2026-2027 consolidated operating budget and transformation program implementation budget. Key items included the approval of tuition and compulsory student fees, nomination and re-election of the Board Chair, and various finance and governance committee agenda items. Additionally, the Board reviewed reports on deferred capital renewal plans, contract renewals, internal controls, and student mental health initiatives, alongside updates on enrolment and labour relations.