University of Jyväskylä’s Financial Statements for 2024: Improved finances and success in education and research
In 2024, three Flagship Programmes funded by the Research Council of Finland were launched. The new Education for the Future (EDUCA) Flagship is led by the University of Jyväskylä, which is the biggest project of its field in Europe.
The total number of completed degrees was 3,321, representing an increase from the previous year. For the second year in a row, the number of bachelor’s and master’s degrees also increased. The number of students graduating during the target period improved in several areas of education.
The University succeeded in balancing its finances
The Board of the University of Jyväskylä approved the financial statements and annual report of 2024 of the group on 28 March 2025. The financial statements and annual report are subject to approval by the University Collegium in their meeting on 23 April 2025.
The University’s turnover for the financial year 2024 was 245 million euros and the deficit of the operating result was 2.6 million euros after revenue and expenses. This financial result of operations improved from the previous financial statements by eight million euros. The University’s plan to balance its finances has been implemented responsibly. The operating result has improved by controlling the development of the cost levels. However, the overall result, taking into account investment activities, was a profit of 6.3 million euros, a significant improvement from the previous financial year. In 2023, the University’s overall result was a loss of 8.5 million euros.
State funding received by the University increased by 8 million euros and supplementary funding also continued to increase, increasing by 4 million euros from the previous year. The share of supplementary funding of turnover has remained at 35 percent in recent years. Competitive research funding increased to 45 million euros. The Research Council of Finland, the Ministry of Education and Culture, and the European Commission, together with other EU funding, continue to be the largest project funders. The competitive research funding included in the funding model of the Ministry of Education and Culture accounts for more than half (53%) of the total supplementary funding.
The 2% increase in operating costs was moderate. Communication activities and other efforts focusing on cost management at the University proved to be effective. The University’s personnel costs increased by 2.6 million euros, or 2% from the previous year. The personnel costs accounted for 68.4% of the University’s total costs. Rental of facilities accounted for 13% of the total costs, so less than a fifth of the costs were other than personnel or rental costs.
Towards a strong, impactful and attractive university
The University renewed its strategy Wisdom and wellbeing for us all in 2024. At its meeting in February, the University Board approved the long-term vision for the University as well as the three-part framework of the strategy development programme: a strong research university, a university with societal impact, and an internationally attractive university.
The following were confirmed as the cross-cutting enablers: sustainable economy; a capable and healthy university community; enabling digitalization; and campus, facilities and infrastructure.
“We were able to successfully balance our finances last year due to the commitment from the entire university community,” says Rector Jari Ojala. “We will continue thosesame efforts this year, according to our plan. With the help of our improved financial situation, we are better able to carry out our core tasks and, in line with our strategy, contribute to building society’s future by providing high-quality research and training the experts of tomorrow.”
