New EUA report calls on universities and governments to do more to implement full costing
Faced with rising costs, stagnating public investment, and the current global economic crisis, Europe’s universities have never been more concerned about their financial sustainability, an issue now also high on the political agenda.
EUA, in a report published today, gives an important new insight into how higher education institutions are responding to financial pressures. Based on an in-depth, European-wide study, the report explains that the first step for universities in addressing these challenges is to identify the full costs of their activities for both internal and external purposes. Moving to full costing is thus essential to reinforce their financial sustainability.
The report calls on national governments to recognise the importance of granting autonomy to universities and to assist in the implementation of full costing. The authors also recommend that European funding schemes further simplify and develop their funding rules to meet universities’ needs and hence to strengthen their contribution to the European Higher Education and Research Areas.
This is part of EUA’s ongoing work on financial sustainability. It will be completed by a new study focusing on universities’ diversification of income streams (EUDIS), which is the second step in consolidating higher education institutions’ financial structures in times of global economic turmoil.
Please click here to read more or here to download the full report.
An executive summary can also be downloaded here.
Published on: Thursday, 13 November 2008 12:31