For the period January to August 2022, Umeå University shows a financial surplus of SEK 134 million. The result is due to cost increases exceeding income when comparing with the corresponding period in 2021 (+6.1 percent compared to +4.9 percent). The effects that COVID-19 previously had on the University's economy seem to be subsiding.
According to University's assessments, the surplus will not be as substantial at the end of the year (SEK +22 million), however, and this is probably because the University does not seem to be reaching the funding cap for 2022.
An increase in grants from research funding bodies
Grants have increased by SEK 109 million, which is nearly a 17 percent increase. The Swedish Research Council and the Wallenberg Foundations are the biggest funding bodies and, together with FORTE, they are the funding bodies representing the biggest income increase. This increase is distributed between many departments and centres such as the Department of Plant Physiology, the Wallenberg Centre for Molecular Medicine at Umeå University (WCMM), the Department of Computing Science and the Department of Sociology. Obtained grants has also increased by 9 percent.
Employment of assistant and associate professors and postdoctoral fellows
The rising costs are mainly due to increased staff and payroll costs following the regular salary review, and an increase in the number of annual employees (+93 annual employees).
"I'm positive about recruiting and adding to our workforce to continue to conduct research and education at a high standard," says Per Ragnarsson, budget director and Deputy University Director.
The University's operating costs are increasing this year, partly due to rising costs for travels, services and printed publications.
Simplify for planning and follow up
In recent years, Umeå University's agency capital has increased and several measures have been carried out or been initiated to ensure the use of available resources to achieve high quality education and research.Among these measures are not least a review of rules for financial governance, clearer determinants for funding of special initiatives, heightened support in budgeting and ongoing work to reduce the difference between budget, prognosis and results.
Learn more
How is Umeå University affected by rising inflation and interest rates?, University Management Blog on 13 October 2022
Många aktiviteter har startat för att stärka forskning och utbildning, news item from 10 October 2022