Annual accounts 2025
Why is OsloMet still running a surplus at a time when we need to cut costs? The rector explains the relationship between savings and investments going forward.
On 11 March, the University Board approved OsloMet’s accounts for 2025 (opengov.com), which showed a surplus of NOK 82.7 million. The accounts are in norwegian.
The surplus in OsloMet’s accounts for 2025 is distributed as follows:
- A surplus of NOK 63.7 million is linked to ordinary activities (activities funded through the allocation from the Ministry of Education and Research)
- A surplus of NOK 19 million is linked to commissioned activities
Why discrepancies between accounts and budget?
"The surplus in the university’s ordinary activities is due to several factors. We have received a refund from the Norwegian Public Service Pension Fund because pension costs were previously calculated too high, and electricity prices have been lower than expected, as well as lower use of consultancy services and investments that have been postponed", explains Rector Christen Krogh.
Lower use of strategic funds has also contributed to the underspend.
Must both brake and accelerate
"Over time, we have received somewhat lower allocations from the Ministry of Education and Research. It is therefore important to maintain good financial control. This means we must be cautious in some areas, even though we need to invest in others. We need to be able to both brake and accelerate at the same time", says Krogh.
In some areas, savings must be made for example, reduced use of consultancy services and positions not always being replaced when employees leave. In other areas, investments will be made.
"The fact that we have had lower use of strategic funds will change now that we have made good progress with the thematic research initiatives, and as we move forward with plans for the future campus in Lillestrøm town centre, which will have more students and academic environments than we have at Kjeller today", Krogh says.
The strategic funds are to be used for the university’s core activities: education, research and collaboration.
"At the board meeting on 11 March it was decided that OsloMet will offer a bachelor’s degree in law from autumn 2027. This will also require investment", the rector explains.
OsloMet’s unused allocation from 2025 will be carried over as provisions for ordinary purposes and investments in the 2026 budget, in line with the Ministry of Education and Research’s regulations.
(This text has been translated with the use of Microsoft Copilot. The text has been quality assured by OsloMet.)
