In 2009 the School of Management and Governance generated sufficient (internal and external) income to cover normal operational costs. The financial overview, however, shows a negative result. This concerns a withdrawal of ¤1.540.000 from the reserves of the School to finance stimulation projects for quality improvements in education and research.
Thanks to the growth in student enrolment in past years, income from the first revenue stream (education) has significantly increased. Income from the second and third revenue streams (externally-financed research) has also substantially risen. This growth in income has enabled the School to compensate for last year's reduction in government funding for scientific research.
The expansion of the activities of the School has led to an upsurge in personnel. In addition to higher salary costs, this development has also led to a strong increase in personnel costs.
The results achieved are compiled as follows.
| Financial Statement divided into education and research | ||
|---|---|---|
| Amounts EUROS x 1.000 |
2009* | 2008 |
| Revenues | ||
| Education 1st revenue stream | 11.868 | 10.981 |
| Education 3rd revenue stream | 2.055 | 1.793 |
| Total revenue from education | 13.923 | 12.774 |
| Research 1st revenue stream | 7.190 | 7.856 |
| Research 2nd revenue stream | 2.085 | 1.534 |
| Research 3rd revenue stream | 6.965 | 3.845 |
| Total revenues from research | 16.240 | 13.235 |
| Other revenues | 2.418 | 2.807 |
| Total Revenues | 32.581 | 28.816 |
| Expenditures | ||
| Personnel | 25.100 | 20.985 |
| Property, furnishings and maintenance | 2.861 | 2.273 |
| Equipment, inventory and materials | 1.307 | 1.066 |
| Miscellaneous expenditures | 4.853 | 3.507 |
| Total Expenditures | 34.121 | 27.831 |
| Result | -1.540 | 985 |
The first revenue stream is from the Ministry of Education, Culture and Science (OCW). The second stream of revenue is divided among the universities on the basis of excellence in education and research. The third revenue stream is comprised of monies received for contracted education and research.
*)At the publication of this digital annual report, the definitive numbers for 2009 were not yet available. The definitive financial results may vary slightly from results published here.