The board of governors at NSCAD University is expected to discuss a report on the cash-strapped school Thursday.
Administrators received the draft report by consultant Howard Windsor earlier this week.
The Nova Scotia Department of Labour and Advanced Education hired the former deputy minister to examine the viability of the school and come up with options for it.
The century-old arts school has a $19-million debt and expects to be short $2.4 million this year.
A report released last year deemed NSCAD one of six schools "at risk" because of its looming financial troubles.
A group called Friends of NSCAD is lobbying to prevent the university from being merged with another institution.
CBC News has requested a copy of Windsor's report. A spokesman for Labour and Advanced Education said the department isn't ready to release it yet.