The 2011's Budget has been approved by the University's Governing Board
January 21, 2011
The academic institution will have 218 million for the current exercise, 5% less than last year.The Governing Board of the University of Oviedo has approved the 2011's budget this morning, giving an amount of 218.000.747 Euros. This number represents a decrease of 5.04% over last year's budget. The rector, Vicente Gotor, and the Vice rector for Economic planning, Santiago Álvarez, have explained the main innovations in the University's account which include a new budgetary section doomed to the International Campus of Excellence.
The budget's fall, which last year reached 229.561.392 Euros, is mainly due to two factors. Firstly, the difficult economic situation requires public administrations to take measures in order to contain expenditure. Secondly, the application of the last year's May decree from which extraordinary measures on staff costs have to be adopted to reduce public deficit.
Santiago Álvarez stressed the significant effort which was made to accommodate the spending needs to the cutting and how this will affect the income which the institution is planning to raise throughout this year. The vice-rector remembered that there is an important volume of expenses, earmarked funded, as it is the case of the Campus of International Excellence, which this year has been included in the transfers of the Principality's Government. An specific section for the Campus of International Excellence has been created in the budget so as to "increase its visibility and to provide accounting over the application of the resources thought to the purposes outlined to the selected project".
As regards to the budget of expenditure, the most important chapter is the one which reflects staff's expenses, which are raised to 131.519.157 Euros, representing a decrease of 2,94% over the amount originally thought in the former exercise.