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University of Copenhagen
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Humanities e-mail warning: Further DKK 20 million losses

Warns staff to cut all expenses. Losses will amount to DKK 40 million - DKK 20m further in the red. Lower income from government subsidies and bonuses

The projected financial loss at the Faculty of Humanities, University of Copenhagen will be greater than expected. This is according to an e-mail sent to all staff Tuesday.

The e-mail was only in Danish.

“Dear staff, the faculty is an economic situation where the projected loss for 2015 will be approximately DKK 40m. Thereby DKK 20m lower than budgeted in 2015. In the original budget we operated with a ‘loss’ of DKK 20m, that was drawn on the faculty’s capital reserves”, faculty director Kristian Boye Petersen writes.

Temporary stop to expenses

He continues that the larger losses are due to less than expected government taxameter subsidies (STÅ) and bonuses – the income the universities get from government for each graduated student.

He warns that the faculty will have to reduce spending for the rest of the year – including a reduction in student assistants’ appointments and more. He also points to spending on construction, travel, IT equipment, books, guests and conferences being stopped.

“This budgetary precaution has immediate effect and will continue until the end of the present year,” he writes.

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