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Financially Sustainable Universities - Diversifying Income Streams

Explore strategies to diversify income streams for financially sustainable universities. Learn about funding challenges, impacts of economic crises, and actions for authorities and universities to improve financial management and foster diversification.

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Financially Sustainable Universities - Diversifying Income Streams

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  1. Financially sustainable Universities – Diversifying Income Streams Thomas Estermann Head of Unit Governance, Autonomy & Funding Financing the Students’ Future (FINST) Consultation Seminar Liverpool, United Kingdom 25 November 2011

  2. Profile of EUA • Established in 2001 • Non-governmentalmembership organisation • 850 individual university members • 35 National Rectors’ Conferences Members • 46 countries • Independent voice for the university sector

  3. Financial Sustainability Universities Funders Public authorities

  4. State of play • On average, almost ¾ of universities’ funding comes from public funding sources

  5. Additional income sources

  6. Funding challenge 1: Complex financial management • Some universities have more than a 100 funding sources! • Different accountability regimes – high costs of compliance!

  7. Funding challenge 2: Increasing co-funding • Do not cover the full costs of an activity • Widens the FUNDING GAP

  8. Funding challenge 3:European funding schemes: co-funding and complexity

  9. Impact of the economic crisis on higher education in Europe

  10. How to improve the situation and foster diversification?

  11. What can authorities do? • Implement smart funding incentives: • Matched funding schemes: instrument with much potential, under-used in Europe • Improve funding modalities: • Simplification of funding schemes • Funding on a full cost basis • Support the development of full costing in universities • Improve framework conditions – autonomy and governance reforms • Support leadership development and professionalisation of management

  12. What can universities do? • Integrate income diversification in the overall strategy • Identify the strengths & specificities of the university to develop a branding strategy • Analyse perspectives for income generation of your activities • Invest in people, leadership and management • Communicate (internally and externally) • Change structures and organisation • Provide internal incentives

  13. Efficiency measures • Internal: • Restructuring of academic units • Centralising services • Outsourcing services • Cooperation • Sharing services, equipment, facilities • Public private partnerships

  14. Some aspects to keep in mind • Additional funding cannot replace sufficient public funding • To foster diversification, upfront investments are necessary • All actors need to work together!

  15. Further Information:www.eua.be/eudisFollow on twitter:thomas.estermann

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