2014 was a year of successes for the University
In 2014, the University of Vaasa's operations were excellent in several areas, and determined compliance with the strategy is evidenced by the results.
A record number of doctoral degrees were completed in 2014 (26 in comparison with a target of 21) and the number of publications with the highest Publication Forum (Jufo) classification has doubled since 2011. Jufo publications are one of the major criteria for state funding. Further strengthening of the research and innovation activities in the University's areas of focus is one of the most important projects in forthcoming years and investments will be made in developing this project.
The number of personnel employed by the University has stabilised at approximately 500, of whom two thirds are employed in teaching and research positions. One fifth of the teaching and research personnel are from other countries. The average age is 42.
Successful education on degree programmes
A total of 453 Master's degrees were awarded, compared with the target of 445. Foreign students completed 14% of the Master's degrees. The University of Vaasa worked to make itself a more attractive university in 2014, and the number of applicants increased.
The University of Vaasa provides its students with excellent internationalisation competences. The targets that were set for international student mobility were exceeded significantly: there were 474 exchange students. The University offers more than 500 exchange places in over 40 countries.
The finances of the University of Vaasa are balanced. The 2014 financial statements showed a surplus of EUR 383,000 and the budget was planned such that the University should break even, unlike in previous years. The positive financial result was thanks to higher-than-budgeted income from investment activities and lower costs. In terms of personnel costs, it was possible to realise significant savings in administration. An important factor in cost management are the regular financial monitoring meetings that are held with the unit directors.
The University of Vaasa's state funding increased in 2014, despite the fact that total state funding for the university sector barely increased. This is a result of the University's excellent performance.
The University of Vaasa's investment performance in 2014 can be considered good, with returns of 8.2%.
The University's investment activities are steered by the investment policy, which is subject to approval by the Board of Directors, and the investment committee manages investments in accordance with the policy. The University's assets are invested in a diverse range of asset classes in accordance with the margins agreed for each market area. The University uses asset managers to make investments.
2015 will be a year of reform
The new rector, Suvi Ronkainen, took up her position at the beginning of 2015 and the new vice-rector with responsibility for research, Jari Kuusisto, will begin working in his position during the spring. Also, a new connections manager, Mika Palosaari, has already begun working for the University. He is responsible for the University's community relations, fundraising and alumni activities.
This year, the University of Vaasa will develop its activities in several ways, including by reinforcing its business orientation. Development is carried out in a spirit of good cooperation with the personnel, with a focus on generating new viewpoints and ideas.