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Published in November 2022, the auditor general's final report painted a compelling, troubling portrait of administrative and financial failure. Although external factors were acknowledged, the primary cause of the crisis was found to be poorly planned capital expansions that were exacerbated by administrative bloat and weak board and provincial oversight. The report confirmed that the instigation of CCAA restructuring was strategically planned by the administration on the advice of external counsel, thus bypassing the collective agreement provisions with the faculty union regarding financial exigency. Academic salaries were found to be inline with sector norms, and that the programs had been a net benefit to the university. In noting the $30 million cost of restructuring, the auditor general wondered whether the funds might better have been spent on education. The report's findings, which also called attention to the role of lobbyists and special deals for administrators, brought a furious response from the terminated faculty and renewed the call of the Canadian Association of University Teachers for legislation to prohibit public universities from the resort to CCAA restructuring.

Court-sealed correspondence between the university and the province was also released at that time. The documents shed a revealing light on the factors and motivation that underpinned the university's application to the courts for CCAA restructuring as well as the relationship between the parties. The revelation renewed calls for a public inquiry.