The board decided on next year's finances, changes to the board composition

In its meeting on 13 December 2022, the board of directors of the University of Oulu has approved the university's operational and financial plan for the years 2023–2024 and the budget for the year 2023.

In the 2023 budget, total revenues are 281.3 million euros and total expenses are 284.4 million euros. The adjusted operating profit thus remains a deficit of EUR 3.1 million. The forecast operating profit for the current fiscal year 2022 is a deficit of 25.8 million euros, and the adjusted operating profit is a deficit of 2.1 million euros.

In addition, the board of directors

• authorised Rector Jouko Niinimäki to sign an 8.2 million USD commitment to the special investment fund eQ PE XV US.

• heard the report of the secretary of the board's remuneration committee

• decided to have a discussion and decide on using the performance bonus program at the board meeting on January 31, 2023

• approved, under certain conditions, the university's commitment to the CONVERGE consortium agreement of the Horizon Europe framework program and the compensation responsibilities contained therein, as well as the risk management plan drawn up for the project

• approved, under certain conditions, the university's commitment to the HEXA-X-II consortium agreement of the Horizon Europe framework program and the compensation responsibilities contained therein, as well as the risk management plan drawn up for the project.

Changes to the board and the investment committee

Riku Hietaniemi has resigned as a member of the board of directors of the University of Oulu as of January 1, 2023. Based on the result of the 2021 administrative elections, the next person to join the board is lecturer Jukka Hiltunen.

The CEO of ETLA, Aki Kangasharju, will join the investment committee of the University of Oulu as of January 1, 2023 as a new member. KEVA's investment director Maaria Eriksson, Kaleva Oy's CFO Pirjo Kytösalmi and the university's CFO Pekka Riuttanen will continue in the investment committee.

In addition, the board of directors

• decided that the sustainability and responsibility program will be carried forward in the university

• approved the accessibility plan of the University of Oulu for the years 2023–2024

• approved the internal audit annual plan for 2023

• noted the internal audit of recruitment processes

• decided the annual clock of its own operations for the year 2023

• marked as information the communication director's reporting on communication matters.

Last updated: 16.12.2022