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University of Copenhagen takes DKK 124 million loss in 2013

Loss is an improvement on what was originally projected for 2013 after hiring of 300 new scientists

The University of Copenhagen (UCPH) is set to end 2013 with a deficit of DKK 124.4 million. This is a DKK 93.5 million improvement on what management had originally estimated in this year’s budget, according to the University’s director Jørgen Honoré at a meeting of the Board.

The deficit was expected. It was budgetted for at the beginning of 2013, when UCPH decided to invest its own capital in hiring 300 new scientists. Read: Copenhagen to hire 300 new scientists.

Pleasant surprises

The positive development is in part because UCPH scientists have secured an extra DKK 79.6 million in external funding from research councils, the EU, and from private funds.

Another DKK 64 million was secured for the maintenance of UCPH buildings. This was not initially included (or expected) in the budget.

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