After eight years of positive result, Umeå University presented an expected negative result of SEK 109 million in 2013. The same year, the University Board decided that an adaptation to a lower level of costs should be implemented from 2014. The 2015 financial performance showed a deficit of SEK 59 million.
"This is the fourth year that the University has shown a negative result and we need to continue our efforts towards reaching financial balance in 2017," says Deputy University Director Per Ragnarsson.
Marginal increase in revenue and increased costs
In total, revenues have increased by SEK 28 million (+1.4 per cent) in the first half of 2016 in comparison to 2015. It is above all allocation revenues that have increased, whereas external revenues remain on the same level as 2016.
In total, costs have increased by SEK 41 million (+1.9 per cent) in the first half of 2016 in comparison to 2015. The greatest increases in costs for 2016 are due to increased costs for staff and depreciation of assets.
"Depreciation of assets have increased by SEK 10 million in comparison to the same period last year. The relatively large investments made in intangible assets in 2015 now result in increased depreciation costs. The reason behind the increase in staff and payroll costs are mainly as a result of the salary revision and that the University had a wage increase for 2016 due to higher costs for pensions," says Per Ragnarsson.
The Swedish National Audit Office's overview had nothing to remark in the interim report.