In 2010 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 €2.148.000 from the reserves of the School to finance stimulation projects for quality improvements in education and research.
As a result of the growth in student enrollment in past years and the reduction in government funding, income from the first revenue stream (education) has been almost equal to last year. Income from the second and third revenue streams (externally-financed research) decreased last year due to the financial crisis.
The results achieved are compiled as follows.
| Financial Statement divided into education and research | ||
|---|---|---|
| Amounts EUROS x 1.000 |
2010 | 2009 |
| Revenues | ||
| Education 1st revenue stream | 12.104 | 11.892 |
| Education 3rd revenue stream | 2.041 | 2.055 |
| Total revenue from education | 14.145 | 13.947 |
| Research 1st revenue stream | 7.655 | 7.230 |
| Research 2nd revenue stream | 1.852 | 2.072 |
| Research 3rd revenue stream | 6.617 | 6.6084 |
| Total revenues from research | 16.124 | 15.386 |
| Other revenues | 1.820 | 2.494 |
| Total Revenues | 32.089 | 31.827 |
| Expenditures | ||
| Personnel | 25.296 | 25.089 |
| Property, furnishings and maintenance | 3.011 | 2.649 |
| Equipment, inventory and materials | 1.140 | 1.204 |
| Miscellaneous expenditures | 4.790 | 4.559 |
| Total Expenditures | 34.236 | 33.500 |
| Result | -2.148 | -1.673 |
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 funds received for contracted education and research.