The Board of Directors approved the 2025 budget and addressed property matters
The total budgeted revenue for 2025 is €340.8 million, which is an increase of €42.8 million compared to 2024. The budgeted operational result for 2025 is a loss of €3.4 million. The forecasted operational result for 2024 is a loss of €6.2 million (budgeted –€11.9 million).
The Board approved that the University of Oulu will begin preparing a draft agreement for the development phase of the Kontinkangas joint campus in collaboration. The joint campus has previously been prepared in the preliminary study phase by the Northern Ostrobothnia Welfare Services County Pohde, the University of Oulu, and the Oulu University of Applied Sciences. The development phase aims to evaluate the implementation options, economic impacts, operational strengths, and synergy benefits of the Kontinkangas joint campus.
The Board approved the objectives, timeline, and work plan for the university’s property strategy. Preparatory work for the strategy was carried out during the autumn by a working group led by CFO Pekka Riuttanen and discussed within the Board’s Finance Committee.
The property strategy aims to establish an economically sustainable foundation that accounts for changes in the operational environment, demographic trends, and the overall economic situation. The operationally sustainable foundation is based on a usage model focused on activities, aiming for synergy and cooperation across organisational boundaries. It supports the university’s attractiveness, ensuring the future of the University of Oulu in the decades to come. The strategy will address the ownership structure of properties, which could include rental agreements or construction for the university’s balance sheet. In the strategy, responsibility matters are also taken into account.
The property strategy is expected to be completed for presentation at the Board meeting in September 2025.
The Board decided to begin the recruitment process for a Property Director, with the aim of the new director starting in spring 2025. This is a new position, deemed necessary by the Board’s Finance Committee. The decision on the matter was made at an email meeting on 11 December 2024.
The Board decided to award the university’s silver plaque to Professor and Rector Jouko Niinimäki as a mark of distinction. According to the regulation concerning the silver plaque (dated 13 January 1969), the plaque may be awarded as recognition of achievements in advancing higher education and culture or for exceptionally significant contributions to the University of Oulu’s activities. As a personal farewell gift to Jouko Niinimäki, the board members made a donation to the Save the Children Finland Christmas campaign.
Additionally, the Board noted the following:
- The Board’s Finance Committee's reporting
- The internal audit reporting for 2024
- The internal audit annual plan for 2025
- The status review of the university's ethical principles.
The board thanks the entire university community for the year 2024, wishes everyone a happy Festive Season and a successful New Year!