2018 Draft Budget: a surplus, no balanced budget as yet
In 2018, the UvA will have more money to spend than was previously expected. The surplus, however, is insufficient to fully cover the costs arising from all of the university’s ambitions and, as such, result in a balanced budget. This is reflected by the 2018 Draft Budget that was adopted by the Executive Board on 17 October.
The Draft Budget shows that the UvA will have more money to spend in 2018 than previously expected. The surplus is partly the result of government grants being higher than initially estimated and the fact that funds from the Student Loan Act (provided to universities to improve the quality of education) have become available.
The additional funds will partly be used to improve the accessibility of UvA buildings and to create more study places for students on UvA campuses. Nevertheless, the additional funds are not sufficient to enable the faculties, services and other units to cover the costs included in their own individual budgets. In the coming period, consultations will be held with the deans and directors in order to arrive at joint decisions regarding the allocation of resources and achieving a balanced budget.
In addition to these individual budgets, the Draft Budget also contains other information, including the Updated Accommodations Plan and the Framework Memorandum for the ICT portfolio. As such, it offers insight into how the various plans and ambitions fit into the financial parameters set out in the 2018 Draft Budget.
Approval of representative advisory bodies
The Draft Budget is also used to seek further approval of the budget in broad outline, by putting it to the Joint Meeting. Paragraph 2.2. of the Draft Budget outlines the changes in respect of the 2018 framework letter.
The Executive Board is keen to invite students and staff to respond to the 2018 Draft Budget and give their opinion (please see below). All questions and comments are welcome and can be sent to Finance & Control by email (firstname.lastname@example.org). The feedback will be forwarded to the Central Works Council (COR) and the Central Student Council (CSR). Once the feedback period is over, the feedback will be compiled, commented on and submitted to the representative advisory bodies together with the final budget.
The feedback period runs from 20 October to 16 November 2017, with the assent and consultation periods for the Central Representative Advisory Council ending on 6 December 2017.
Following the outcome of the consultation rounds and approval of the broad outlines of the budget by the Central Representative Advisory Councils, the plan is for the final budget for 2018 to be adopted in December of this year. If all goes according to plan, the Supervisory Board will approve the budget during its meeting on 20 December 2017. The final budget will be published on the UvA website.