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Multi-year Perspective and Continuity

Operating Results until 2025

amounts x €1,000

        
 

Realised in 2019

Realised in 2020

Budgeted for 2020

Budgeted for 2021

Estimate 2022

Estimate 2023

Estimate 2024

Estimate 2025

Income

        

Government funding (excl. workplace function)

319,939

338,120

328,553

349,394

351,292

357,950

361,643

364,670

Tuition, course, lecture, and examination fees

42,252

45,077

44,000

47,133

47,006

47,006

47,006

47,006

Income from third-party work

193,823

191,303

207,543

221,157

222,103

223,388

224,780

226,701

Other third-party income

48,004

40,276

46,932

43,594

45,426

44,448

44,178

44,350

Total income

604,018

614,776

627,028

661,278

665,827

672,792

677,608

682,727

Expenses

        

Personnel expenses

426,221

464,787

454,361

493,857

503,592

505,687

509,191

509,988

Depreciation

32,165

31,414

28,403

34,726

34,621

34,671

34,540

35,176

Accommodation expenses

25,407

28,794

20,229

30,245

28,174

28,903

31,079

30,170

Other expenses

109,226

90,748

132,301

114,045

107,381

105,526

104,818

106,219

Total expenses

593,019

615,743

635,295

672,873

673,768

674,787

679,628

681,553

Balance of income and expenses

10,999

-967

-8,267

-11,594

-7,940

-1,995

-2,021

1,175

Financial income and expenditures

-40

-112

0

-10

-10

-31

-103

-178

Corporation tax

0

0

0

0

0

0

0

0

Result from participating interests

76

-143

0

0

0

0

0

0

Operating Result

11,035

-1,222

-8,267

-11,604

-7,950

-2,026

-2,124

997

General Explanation of Multi-year Operations

Within the sector, it was agreed to budget less cautiously. A temporary negative budget is permissible in that case. The Minister of Education, Culture, and Science previously urged that deficits be budgeted, cash and cash equivalents be reduced, and solvency be lowered. Radboud University has complied with this request by responsibly budgeting and projecting a temporary financial deficit in the coming years. In 2025, a positive operating balance is expected again.

In the coming years, investments will be made in the quality of education and research by recruiting additional staff, partly to reduce the perceived workload and to increase the well-being of both staff members and students. In addition, investments will be made in various IT projects in the coming years, such as strengthening the organisation around privacy and information security, and implementing a new roster application and ERP system.

Finally, the university has committed itself to several (social) objectives based on our strategy, but we have not yet found structural funding for them. This includes funding for the unique research facilities at the FELIX Laboratory (‘laser lab’) and the High Field Magnet Laboratory (HFML, ‘magnet lab’), as well as the establishment and provision of a broad range of teacher training programmes to reduce the teacher shortage.

2021 Budget

The budgeted result for 2021 is €11.6 million negative. With this, the university invests in the quality of education and research by increasing the number of (academic) staff, partly to facilitate education in smaller groups and to reduce the workload. In addition, the university invests in privacy and IT security. Following the hack at Maastricht University just before Christmas 2019, we carried out several internal and external investigations in 2020 to bring IT security to a higher level. As a result, a structurally higher expenditure level is anticipated at Corporate Information Systems for privacy and ICT security. Expenditures are also planned in 2021 for the roll-out of Office 365 and User-Focused Online (new content management system for streamlining internet and intranet pages). In addition, further investments will be made in 2021 for the implementation of a more centrally controlled timetabling software system. Finally, there are the consequences of the coronavirus crisis, such as the deficit at Radboud Services due to the closure of the sports centre and catering facilities.

The faculties were allocated additional resources of €17.7 million in 2020, mainly to expand the academic staff, to increase the quality of research and education, and to reduce the workload. However, not all vacancies will have been filled (by far) in 2020. It is estimated that this will happen in 2021.

2022-2025 Estimates

Negative results have also been forecast for 2022–2024, returning to a small positive result in 2025. Larger multi-year deficits have been estimated for Computing and Information Sciences (CIS), Real Estate and the Faculty of Science (especially the HFML-FELIX research facilities).

Direct government funding includes positive reference estimates, some of which have not yet been spent. The funds have been set aside centrally as expenses and have therefore been accounted for as result neutral.

FTEs

In the table below, the FTE development in the years 2019–2025 is set against the number of students. Student numbers are expected to remain constant, in line with the strategy. The university strives for quality rather than quantity. Due to the extra investment in staff in the next few years to continue to offer quality and to reduce the workload, we see a favourable development in the ratio of academic staff to the number of students. This will facilitate teaching in smaller groups and intensify student guidance. The number of FTEs will decrease again slightly in 2025. This is partly related to the expiration of funding for HFML-FELIX.

 

Realised in 2019

Realised in 2020

Budgeted for 2020

Budgeted for 2021

Estimate 2022

Estimate 2023

Estimate 2024

Estimate 2025

FTE Academic staff

2,886

3,152

3,090

3,248

3,299

3,255

3,237

3,161

FTE Support & management staff

2,325

2,451

2,310

2,371

2,369

2,378

2,364

2,365

FTE Total

5,211

5,603

5,400

5,619

5,667

5,634

5,601

5,525

% academic staff/total FTE

55.5%

56.3%

57.2%

57.8%

58.2%

57.8%

57.8%

57.2%

Number of students

22,976

24,104

24,000

24,000

24,000

24,000

24,000

24,000

Ratio number of students/academic staff FTE

8.2

7.6

7.8

7.4

7.3

7.4

7.4

7.6

Executive Board (management)

3

3

3

3

3

3

3

3

Balance Sheet Development until 2025

amounts x €1,000

        
 

Realised in 2019

Realised in 2020

Budgeted for 2020

Budgeted for 2021

Estimate 2022

Estimate 2023

Estimate 2024

Estimate 2025

ASSETS

        

Fixed Assets

        

Tangible fixed assets

        

- buildings and grounds

325,685

339,653

338,775

346,087

342,948

360,405

380,102

392,359

- inventory and equipment

21,445

26,501

28,038

32,156

28,730

25,029

21,412

18,317

- information systems

947

893

680

609

451

301

151

1

 

348,077

367,047

367,493

378,852

372,129

385,735

401,665

410,677

Financial fixed assets

608

229

3

94

94

94

94

94

 

348,685

367,276

367,496

378,946

372,223

385,829

401,759

410,771

Current Assets

        

- Inventory

200

194

221

200

200

200

200

200

- Receivables

23,056

19,698

25,000

23,000

23,000

23,000

23,000

23,000

- Cash and cash equivalents

73,334

57,594

30,952

20,000

20,000

20,000

20,000

20,000

 

96,590

77,486

56,173

43,200

43,200

43,200

43,200

43,200

Total assets

445,275

444,762

423,669

422,146

415,423

429,029

444,959

453,971

LIABILITIES

        

General reserves

230,044

227,752

216,482

210,949

202,999

200,973

198,849

199,846

Designated reserves

16,377

15,604

16038

16,038

16,038

16,038

16,038

16,038

Other reserves/funds

3,896

3,896

3,896

3,896

3,896

3,896

3,896

3,896

Equity

250,317

247,252

236,416

230,883

222,933

220,907

218,783

219,780

Facilities

31,191

26,366

29,212

22,203

21,824

21,516

20,173

19,986

Long-term liabilities

8,307

7,973

8,041

7,639

7,305

6,971

6,637

6,303

Loan o/g

0

0

0

1,421

8,361

24,635

44,366

52,902

Current liabilities

155,460

163,171

150,000

160,000

155,000

155,000

155,000

155,000

Total liabilities

445,275

444,762

423,669

422,146

415,423

429,029

444,959

453,971

Accommodation and Investment Policy

The development of tangible fixed assets up to and including 2025 is based on an indicative update of the 2017 Long-term Investment Prognosis (MIP). The implementation of the campus strategy in the campus plan has been delayed by COVID-19 and will be completed in 2021. An update of the MIP was used for the 2021 budget, in which the following projects were identified.

  • Projects in progress, such as a specially equipped space in the Comenius building for administering digital assessments, the Accommodation Plan for an extension of the Faculty of Science, including updating the catering facilities for this faculty in the Huygens building, and the implementation of the HEN++ (Hybrid Energy Network).

  • Projects about which a decision has yet to be taken (renovation projects, repurposing the Erasmus building and Humanities premises, in addition to extra investments related to the Energy Policy Plan).

Of the approximately €155 million total investment and maintenance expenditures for the period from 2021–2025, final decisions have been taken about approximately €43 million. For the approximately €112 million remaining, concrete elaboration and decision-making is still open (in a new MIP). This will be completed shortly. With the explicit reservation of decision-making on these investment and maintenance expenditures, it is anticipated that negative liquidity balances will arise from 2021 onwards and that loan capital will be required for financing. 

Development of Provisions

In the period from 2019–2025, provisions will decrease by more than €11 million. This mainly relates to the senior staff scheme, which is being phased out (minus €2.1 million), the demolition and asbestos removal (minus €7.2 million) as a result of carrying out the planned work, and other provisions (minus €1.8 million).

A detailed overview up to and including 2025 is as follows:

amounts x €1,000

             
 

Balance at the end of 2019

Addition 2020

With-drawal 2020

Release 2020

Balance at the end of 2020

Addition 2021

With-drawal 2021

Release 2021

Balance at the end of 2021

Balance at the end of 2022

Balance at the end of 2023

Balance at the end of 2024

Balance at the end of 2025

 

Personnel provisions

            

- WNU

6,681

2,077

-3,148

0

5,610

2,410

-1,588

0

6,432

6,681

6,681

6,681

6,681

- long-term disability

2,310

1,474

-1,863

0

1,921

1,875

-1,875

0

1,921

2,310

2,310

2,310

2,310

- reorg. costs/restructuring

64

515

0

-64

515

0

0

0

515

0

0

0

0

- sabbatical leave

2,041

291

-210

-50

2,072

200

-200

0

2,072

2,041

2,041

2,041

2,041

- transition payment

1,717

780

-829

0

1,668

0

0

0

1,668

1,717

1,717

1,717

1,717

- anniversaries

4,165

296

-240

0

4,221

350

-350

0

4,221

4,165

4,165

4,165

4,165

- senior staff scheme

2,223

285

-777

-49

1,682

0

-777

0

905

835

527

270

83

 

19,201

5,718

-7,067

-163

17,689

4,835

-4,790

0

17,734

17,749

17,441

17,184

16,997

Other facilities

             

- demolition/asbestos removal

9,176

89

-900

-409

7,956

0

-4,045

0

3,911

3,075

3,075

1,989

1,989

- other facilities

2,814

0

-1,090

-1,003

721

0

-163

0

558

1,000

1,000

1,000

1,000

 

11,990

89

-1,990

-1,412

8,677

0

-4,208

0

4,469

4,075

4,075

2,989

2,989

              

Total provisions

31,191

5,807

-9,057

-1,575

26,366

4,835

-8,998

0

22,203

21,824

21,516

20,173

19,986