New financial model for ST adopted

A new financial model for ST was adopted at the faculty management meeting on 5 July 2018. The financial model will be taken into use to set the 2019 budget.

2018.07.05 | Christina Troelsen

Photo: ST Communication.

Photo: ST Communication.

For some time now, the faculty management team has been working on a new financial model for ST. In the spring of 2018, the model was presented for discussion by the department management team, the liaison committees and the Academic Council. At the faculty management meeting on 5 July, the model was finally adopted.

Transparency, robustness and straightforward principles are some of the key words for the new financial model. According to the model, income from basic research, contracts and programmes, as well as external funding are channelled out to the departments, while costs are to a large extent allocated according to current internal and external cost-allocation principles. Overall, this will help increase incentives to develop core activities.

The model will be taken into use in connection with the 2019 budget, and all departments will transfer to the new model with the same bottom line as they would have had with the old model.

Dean Niels Christian Nielsen is very pleased that the new financial model can now enter into force:

"It’s not been easy to set up a new financial model which is transparent regarding our financial position, but which at the same time is robust and straightforward, with built-in incentives. Work has therefore taken a long time and demanded numerous analyses and discussions across the faculty. I’m extremely pleased that we in the faculty management team have now adopted the model and shaken hands in agreement that shared responsibility and solidarity are fundamental principles for our faculty finances," says Niels Christian Nielsen.

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