Ä¢¹½Ö±²¥

The turnover has increased by 5% from the previous year, although the realization is slightly below the budgeted total level. The person-years have decreased slightly from the previous year (-1.4%), but turnover has increased. As in previous years, the increase in supplementary funding has not increased the number of personnel, so the existing personnel have allocated their working time to projects according to the Rector’s instructions. The increase in personnel costs (+2%) is explained by the salary increases in accordance with the collective agreement. The realization of personnel costs is below the budgeted total level. The realization of other operating costs is at last year’s level and the overall level has not increased. The realization is below the budgeted level.

The budgeted operating deficit for January to September was 3.6 million euros, and the actual deficit for the period is 0.9 million euros. The financial result improved by 2.7 million euros in comparison to the budget. The operating deficit has decreased from the previous year’s corresponding period as a consequence of the controlled financial adjustments. The University’s financial situation will improve when the turnover increases more than the increase in expenses.

The University redeemed its entire stock portfolio from Fondita, as a result of which significant capital gains of 7.9 million euros were recorded for September, but at the same time unrealized fund performance of 8.7 million euros was written off. The redeemed capital has been invested in two new equity funds based on tendering and the recommendations of the Asset Management Committee.

The operating deficit of 0.9 million euros has been covered by both realized returns on investment assets and donations. After the sale and re-investment of investment assets carried out in September, the University’s overall result is clearly positive.

The Board authorised the Rector to sign the valid lease agreements of the University Properties of Finland, which have been updated with renewed rental principle. Changes to lease terms will come into effect from the beginning of 2025, and because of them, the University’s annual rents of the premises rented from SYK in September 2024 will decrease by approximately 0.5 million euros in 2025.

The Board discussed several topics in its meeting and gave guidance for their further consideration. The topics included the update of the Ä¢¹½Ö±²¥ Regulations, the code of conduct currently being prepared, and a report supplementing the risk assessment of the University, which especially examines the threats to the Ä¢¹½Ö±²¥ from changes in the geopolitical operating environment. Based on the preliminary discussion regarding the update of the Ä¢¹½Ö±²¥ Regulations, the draft amendment will be submitted for a comment round.

After the meeting, the Board and the University Collegium discussed the internationalization of the University.

The last meeting of the Board of the Ä¢¹½Ö±²¥ will be on 13 December 2024.