Budgets and funding decisions of Aalto University and the schools for 2017

The budget of Aalto University was approved in the meeting of the Aalto University Board on 25 November.

It is based on the plan for balancing the University’s finances drawn up in 2015 and the measures that were agreed at the time.

According to the Finnish Government programme the funding of Aalto University will reduce in 2017 due to cuts in Aalto additional funding and Tekes funding. These cuts will be compensated in the 2017 budget by the following elements of additional funding:
- an increase in funding received from the funding model of the Ministry of Education and Culture due to the new performance agreement for the period 2017–2020, particularly regarding academic results and the funding of the university’s national duties and strategy
- success in receiving profiling funding from the Academy of Finland and
- success in receiving the EU’s Horizon 2020 funding.

In addition, to finance its operations, the university will use endowment returns and the accumulated surplus from previous years.

The most important savings element in the budget are the savings in facilities costs, which consist of the savings in space use and the new cost-based pricing of the facilities, due to be implemented now that the University has full ownership of the Aalto University Properties Ltd.

The planned additional funding and the savings will be allocated to the University’s research and teaching so that the University’s core activities can be safeguarded despite the cuts made in the Government programme. According to the 2017 budget, no new personnel reductions will be required.

The university’s operative budget for next year will be in deficit by about EUR 25 million.

Read more:

Aalto University Budget 2017 (pdf)

  • Budget 2017 highlights
  • Service portfolio and joint unit charge budget 2017
  • University funding decision to schools 2017
  • School funding decisions to departments 2017

More information: Marianna Bom, Chief Financial Officer, [email protected]

  • Published:
  • Updated:
URL copied!

Read more news

Konsta Laakso and Elsi Sloan act in the short film of Oasis of Radical Wellbeing
Research & Art Published:

The short film filmed in Aalto tells about a student's difficult choice

The shooting of the short film Myötätunto III, funded by Aalto University's Oasis of Radical Wellbeing project, began in Otaniemi on March 17th. The premier is on May 30th as a part of the Green Minds, Healthy Hearts – Social Sustainability Symposium in Aalto University's Harald Herlin Learning Center.
Suvi Helko and Tiina Pylkkönen from Oasis of Radical Wellbeing at the Wellbeing on a Sustainable Campus event
Campus Published:

Towards social sustainability at Aalto

The concept of social sustainability was discussed by Aalto community in the Wellbeing on a Sustainable Campus event of the Earth Hour Week 2023.
A Grid
University Published:
People hanging out in the Learning centre of Aalto University
University Published:

Seed funding launched to encourage lifewide learning development

Aalto University is now offering seed funding to support lifewide learning projects within Schools and Departments. With grants of up to 100k€ per year, this initiative provides an opportunity for Schools and Departments to pursue innovative projects that foster the development of lifewide learning and create sustainable learning solutions for individuals and industry needs.