Aalto University invested in research and teaching in its first year of operation
Aalto University released the board’s report and financial statements of its first year of operation today. The financial statements consist of data from the Aalto University Foundation, which operates as the Aalto University, and the Aalto University Group.
During the university’s first year of operation, the most important investment was the introduction of the academic Tenure Track career system. The university also invested in modernizing research and teaching infrastructures, additional resources to units that excelled in the research assessment exercise and in the multidisciplinary factory activities. In 2010, a total of 1,146 Bachelor’s degrees, 2,312 Master’s degrees and 184 doctoral degrees were awarded by the university. Moreover, 2,500 international research articles were published. The university was also granted 35 international awards for artistic activity.
The financial status of Aalto University was stable in 2010. The university has a good financial standing and its funding will be on solid ground in the near future. Thus, the financial situation provides excellent opportunities to continue the implementation of the university’s ambitious strategy. The income received by Aalto University in 2010 was €400 million, out of which €244 million was funding from the state. The surplus of the financial period was €24 million. The cost impact of the strategic investments, especially of Tenure Track career path, will not be visible immediately and will be distributed over a period of several years, as it is not possible to carry out these investments during a single year. The university aims at responsible financial management, and the surplus of the year is reserved for the future cost impact. The income of the Aalto University Group was €406 million and the surplus €38 million. The balance sheet total of the Aalto University Group was €1,043 million.
The annual report and financial statements are available in full at www.aalto.fi/fi/annualreport. At the moment the reports are available only in Finnish. The English version of the reports are available next week.
Marianna Bom, CFO, marianna.bom(at)aalto.fi, tel. +358 50 575 3762.