The university's board approved the interim financial statements

In its meeting on June 15, 2023, the board of directors of the University of Oulu has approved the university's interim financial statements for January-April.

The operative accounting result for January-April 2023 is -2.2 million euros in loss and the adjusted operative result is 0.9 million euros in profit. The accounting result of investment activities is +6.8 million euros. The operating result is 8.8 million euros when taking into account the funding of the fundraising results to the tied fund and the strategic funding of 4 million from the Ministry of Education and Culture for the year 2023.

The university's balance sheet position is stable and the equity ratio has remained good. The equity ratio weakened during 2022 due to loss. The balance sheet total at the end of April 2023 was 341.5 million euros (last year 332.6), of which investments accounted for 218.8 million euros, or 64 percent.

The board reviewed the university's long-term operational and financial plan (PTS). The goal of PTS is to understand the goals of basic funding and especially supplementary funding, cost goals and challenges for personnel and facilities by faculty. The goal is also to highlight risk scenarios by faculty and form an overall view of the university.

The board authorized the rector to prepare the facility project for the Teacher training school and its high school and to obtain the necessary additional information to support decision-making. The board decided to organize a separate e-mail meeting on the matter. The temporary facility solution does not apply to the Koskela unit.

The board approved the university's updated risk management policy. It is an outline of the responsibilities, purpose and goals of the university's risk management. The risk management policy is from 2016.

The board received the internal audit report. Recent audit targets have been the recruitment process, grant practices, business projects, and the education management system and decision-making process. Two of these entities received an overall rating of functional and two received an overall rating of satisfactory. The task of the internal audit is to support the development of the University of Oulu and the achievement of goals with its objective assessment and verification activities.

In addition, the board marked for information the reporting of research matters and the situation of the campus project.

Last updated: 16.6.2023