The University’s key financial figures

In 2018 the University of Helsinki’s total income amounted to €677 million while total expenditure was €690 million, making the operating deficit €17 million. As investment activities were €19 million in deficit, the University’s overall result in 2018 was €36 million in deficit.

The trend of a negative operating result carries over from 2016 and 2017, a consequence of the decrease seen in recent years in the core funding provided by the government, as well as the freezing of the university index between 2016 and 2019.

A little under 60% of the University’s expenditures were staff costs. At the end of 2018 the number of employees was a little over 7,800, of whom nearly 4,500 were teachers and researchers. Another considerable expense are the facilities required for studying, research and other activities.

Eng_indeksin vaikutus

In 2018 the core funding provided to the University of Helsinki by the Finnish government was €400 million, consisting of a core appropriation based on the university funding model, the last instalment of the pharmacy compensation, the funding allocated by the Ministry of Finance to teacher training schools and various separate instalments allocated to the University by the Ministry of Education and Culture.

In 2018 core funding decreased by €3 million, and is expected to further decrease in 2019 by approximately €5.6 million. Furthermore, the freezing of the university index is estimated to cause a reduction of €8.6 million in 2019. The University’s budget for 2019 is €30 million in the red.

 

Eng tuloksen muodostuminen

The operating deficit of the University of Helsinki was €16.7 million.

In 2018 the Ministry of Education and Culture code for financial management at higher education institutions was amended in terms of instructions concerning investment accounting. From 2018 onwards the price changes of securities are to be posted in the result. Due to the change in accounting and a negative trend in the stock market, the investment activities of the University of Helsinki were €19.2 million in deficit.

A total of €6 million from the investment result was allocated to the University's operations, including instalments from the Future Development Fund, the 375 Future Fund and the University of Helsinki Funds.

In the financial statement of the University of Helsinki for 2018, the deficit was €36 million.

Eng_operating result

The deficit of the University of Helsinki is approximately 2.4% of the University’s overall expenditure, or the expenditure of roughly eight days of operations.

 

Eng_kokonaistuottojen lähteet 2018

In 2018 the University of Helsinki’s total income amounted to €677 million, a decrease of €26.8 million (‑3.8%) compared to the previous year. The University's total income is composed of core funding, external funding and the University’s own income (investment activities, income from the University of Helsinki Funds and fundraising). Core funding includes funds allocated by the Ministry of Education and Culture and the Ministry of Finance. A drop of €3.3 million (‑0.1%) was seen in the core funding, which was €400 million in 2018. The largest individual change occurred in fundraising income. At the end of 2017 the University’s 375th anniversary fundraising campaign came to a close, making the fundraising income in 2017 distinctly higher than average.

 

Eng_kokonaismenojen lähteet 2018

The total expenditure of the University of Helsinki was €690 million, an increase of 1.4% compared to the previous year. The largest expenditure items were staff costs (58%) and facility rents (13%). Staff costs totalled €403.2 million and rents €88.7, constituting a total of €492 million (71% of total expenditure). Staff costs increased by €1.5 million despite the establishment of University of Helsinki Property Services Ltd, a subsidiary of the University, to which approximately 300 employees were transferred. Due to the change, other expenses increased by €22 million, as the University purchases cleaning and porter services, among others, from the new company.

 

Eng_täydentävän kokonaistuottojen lähteet 2018

In 2018 the University was granted a total of €199 million in external research funding, of which €161 million originated in Finland and €38 million abroad, making the share of international research funding 19%.

The most important source of external research funding for the University of Helsinki is the Academy of Finland. The funding awarded by the Academy of Finland decreased altogether by approximately €3 million as a result of the end of the 2012–2017 period for centres of excellence and the beginning of the new period, as the funding share in the new term dropped from 80% to 70%, with the number of centres of excellence also decreasing. Another reason for the decrease was a decrease in infrastructure funding awarded by the Finnish Research Infrastructure Committee of the Academy of Finland. In 2017 this funding was at an unprecedented level, normalising in 2018 to a total of €2.6 million. Funding for profile building granted by the Academy of Finland grew by €4.1 million compared to the previous year.

The share of Academy of Finland funding of all research funding awarded to the University of Helsinki was 52%.

Research funding granted by the EU grew by €5 million compared to the previous year, totalling €25 million. Particular growth was seen at the Faculty of Medicine and the Faculty of Science.

The share of research funding granted by Finnish foundations remained unchanged at €23 million (11%), while research funding granted by Business Finland grew by €2 million to €16 million (8%).