The University of Jyväskylä made a good academic result in 2020 regardless of exceptional circumstances
Result bulletin 15 March 2021
On 24 February 2021, JYU received the results of the Finnish Education Evaluation Centre (FINEEC) audit, which was made at the end of 2020. The audit results were good in all areas, and the University passed the total assessment. The audit is valid for six years.
In the agreement negotiations for 2021–2024, the Ministry of Education and Culture and JYU agreed on strategic development targets and confirmed degree targets and national responsibilities. It was decided that JYU will receive educational responsibility for bachelor’s, master’s and doctoral degrees in technology. The expansion of educational responsibility was pursued for about twenty years and is a strategic achievement for the University. Strong support from, among others, the members of parliament from the region, the Chamber of Commerce and the business network was crucial for the expansion.
Regional cooperation increased education offering
The University actively contributed to regional cooperation also in 2020. The EduFutura Jyväskylä cooperation with JAMK University of Applied Sciences and the Jyväskylä Educational Consortium Gradia became concrete through large joint education offering. In addition, JYU has also actively participated in the strengthening of the Wellbeing Expertise Centre of Central Finland KeHO.
Total budget at the level of 2019, expected negative operational result realised
The University’s turnover, consisting of the Government funding for higher education institutions from the Ministry of Education and Culture and supplementary funding, was €201.5 million and the total expenses were €205.3 million in the financial period 2020. Of donations assets from previous years, €0.3 million was used. Of operational costs, €3.8 million was covered with realised profits of investments (€5.7 million in 2019).
Of all expenses, staff costs comprised 70%, €144 million (in 2019, corresponding figures were 68% and €143 million). Staff costs in the financial period were increased by the incentive bonus of €1.2 million and its add-on costs. Facility rents were 12% of total costs. Thus, only 18% of the University’s total costs are other than staff and rent costs.
Investment profits exceeded annual targets
The value of JYU’s investments increased 6.8% in 2020. The average annual profit of 6.9% for the whole investment history (2011–2020) still clearly exceeds the annual target of 5%. At the end of the year, the value of long-term investments was €149.9 million.
EduCluster Finland’s reorganisation improved operational result
The University group consists of the University, EduCluster Finland Ltd, UniServices Ltd and the fund management company Unifund Jyväskylä Ltd.
EduCluster Finland’s turnover in 2020 was €10,466,441 and decreased 5.24% from 2019. The most significant reason for the decrease in turnover were challenges the coronavirus pandemic created for international trade. The company’s operational result was positive (€203,258.72) and was 137% in comparison to the previous year. The most important reason for the positive result was the company’s reorganisation in spring 2020, part-time layoffs, and product development related to the COVID-19 pandemic, for which the company also received project funding from Business Finland. In 2020, agreements were made for starting new schools in Uruguay and Saudi Arabia (in cooperation with HEI Schools). The company continued its key development projects for future business. One of the most important projects is the matriculation examination for a Finnish International School the company operates in Qatar in cooperation with JYU and the Finnish Institute for Educational Research. The first upper secondary school students are planned to participate in the examination for the first time in spring 2022.
Unifund Jyväskylä is a financing company established by the University in 2015. It invests in University-based companies that fulfil Unifund’s investment criteria. The company works in cooperation with JYU’s Research and Innovation Services, the Jyväskylä Business and Innovation Factory and Venture Capital companies, aiming to improve the prerequisites of growth and funding for companies with roots in the University. In total four new funding possibilities were assessed in more detail in the financial period. Unifund’s board decided to invest in three companies, and also a small further investment was made in one of them. One conditional investment decision was made in autumn, but it has not yet realised.
UniServices Ltd did not have business activity.
The University Board approved the group’s financial statement and annual report 2020 in its meeting of 15 March 2021. The University Collegium will discuss and confirm the financial statement and annual report in its meeting of 27 April 2021.
Further information:
Keijo Hämäläinen, Rector, 040 6800 215, keijo.hamalainen@jyu.fi
Päivi Seppä, Finance and Service Director, 050 591 9522, paivi.seppa@jyu.fi
Jarkko Pirkkalainen, Development Director, 040 737 3364, jarkko.pirkkalainen@jyu.fi
