Summary of 2017 Annual Report
Discover the world at Leiden University
Content Introduction ....................................................................................................................................... 3 Key figures .......................................................................................................................................... 4 Governance structure as at 1 September 2017 ................................................................................ 6 Finances .............................................................................................................................................. 5 Consolidated Annual Financial Statements .................................................................................. 10 Unconsolidated Annual Financial Statements .............................................................................. 13
s um m a ry o f 2 017 a n n ua l r e p o rt le i de n u n i ve r si t y
Introduction This Summary of the 2017 Annual Report of Leiden University is a concise overview of the University’s management structure, key figures (students, degrees awarded, research and staff) and finances. For a more detailed report on Leiden University’s education and research, impact, knowledge valorisation, infrastructure, staff and finances, please see the Jaarverslag 2017 (in Dutch): universiteitleiden.nl/over-ons/feiten-en-cijfers/jaarverslag
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Key figures All the figures include Medicine / LUMC, except for ‘FTE employed’ and ‘percentage of temporary academic staff in 1st source of funding’. The indicators in the area of education relate to different cohorts. For explanations and definitions, please see Appendix H. Students
2013
2014
2015
2016
2017
Intake for bachelor’s programmes Year 1 (propaedeuse)
5,222
4,864
4,986
5,186
5,688
8%
11%
14%
13%
11%
Contact hours B-1 (% programmes with 12+ hours)
100%
100%
100%
100%
100%
Intake for master’s programmes
4,576
4,945
4,702
5,083
5,185
Participants in Honours (excellence) tracks
Of which with foreign nationality
23%
21%
28%
26%
29%
23,253
24,449
25,812
26,840
28,106
Satisfaction of bachelor’s students (NSS; NSE)
4.0
4.0
4.1
4.1
4.1
Satisfaction of master’s students (NSS; NSE)
3.9
3.8
3.9
4.0
4.0
Total number of enrolled students (ft+pt+external)
Diplomas and success rate
2013
2014
2015
2016
2017
Bachelor’s diplomas
2,966
2,992
3,449
3,687
3,737
(Post-)master’s diplomas
2,771
3,043
3,443
3,661
3,989
Non-negative BSA advice in 1st bachelor’s year
84%
85%
87%
84%
83%
Drop-out after 1 year (bachelor’s)
16%
17%
14%
16%
15%
Transfer after 1 year (bachelor’s)
6%
7%
6%
6%
6%
Completion rate of re-enrollers in 4 years (bachelor’s)
68%
68%
69%
71%
70%
Completion rate of 1-year master’s in 2 years
71%
65%
67%
64%
66%
Completion rate of 2-year master’s in 3 years
71%
73%
71%
68%
65%
Research
2013
2014
2015
2016
2017
393
411
406
417
423
Academic publications
5,830
5,533
5,726
5,656
6,094
Research capacity in FTE
2,198
2,265
2,321
2,393
2,460
5.0
5.3
5.2
5.5
5.3
PhD completion rate in 6 years
65%
62%
62%
61%
60%
Staff employed
2013
2014
2015
2016
2017
Total FTE employed (year end)
3,421
3,667
3,847
4,020
4,193
1,240
1,353
1,416
1,535
1,606
Of which PhD candidates
700
725
767
770
774
Of which education & research support
322
402
417
406
440
PhDs completed
Average time to PhD completion
Of which academic staff
Of which other support staff
4
1,120
1,143
1,202
1,265
1,323
% Women in more senior roles (only academic staff)
24%
26%
27%
28%
31%
% Female full professors
21%
23%
23%
24%
26%
% Temporary academic staff in 1st source of funding
33%
39%
38%
38%
36%
% UTQ (BKO) certificates
32%
68%
87%
89%
93%
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Finances (in Mâ‚Ź)
2013
2014
2015
2016
2017
292
309
319
325
337
Tuition fees
44
51
57
61
64
NWO (incl. ZonMw) and KNAW
70
50
52
54
52
EU (incl. ERC)
25
32
34
38
37
Other third parties (incl. contract education)
67
81
87
87
90
Other income
30
33
41
36
42
Total income
528
557
590
601
623
Expenditure
512
526
560
586
614
15
31
25
2
4
31%
29%
29%
30%
29%
Government contribution
Net result (profit / loss) Percentage of income that is work for third parties
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Governance structure as at 1 September 2017 Board of Governors President: A.F. van der Touw, MA Executive Board Rector Magnificus and President: Professor C.J.J.M. Stolker Vice-Rector Magnificus: Professor H. Bijl Vice-President: H.W. te Beest until 8 May 2017 M. Ridderbos, MSc, from 8 May 2017
University Council President: P.C. Krol
Faculties ■
Archaeology
Dean: Professor C.L. Hofman
■
Humanities
Dean: Professor M.R. Rutgers
■
Medicine*
Dean: Professor P.C.W. Hogendoorn
■
Governance and Global Affairs
Dean: Professor E.R. Muller
■
Law
Dean: Professor J.P. van der Leun
■
Social and Behavioural Sciences
Dean: Professor J.T. Swaab-Barneveld
■
Science
Dean: Professor G.R. de Snoo
The faculties consist of 27 institutes and 2 interfaculty institutes
Expertise centres/support services ■ Honours Academy ■ ICT Shared Service Centre (ISSC) ■ Leiden University Research and Innovation Services (Luris) – in collaboration with LUMC ■ Student and Educational Affairs (SOZ) ■ University Services Department (UFB) ■ Leiden University Libraries (UBL) ■ Real Estate (VG) ■ Health, Safety and Environment (VGM) – in collaboration with LUMC Administration and Central Services ■ Strategy and Academic Affairs Directorate (SAZ) ■ General Management and Legal Affairs (ABJZ) ■ Administration Directorate (BV) ■ Strategic Communication and Marketing Directorate (SCM) *
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The Faculty of Medicine and the Leiden Academic Hospital together make up the Leiden University Medical Center (LUMC)
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Finances Financial result 2017 In outline, the 2017 financial year (consolidated) can be represented as follows: • Income rose by 22.7 million euros to 623.4 million (2016: 600.7 million). The government contribution and the tuition fees increased by 12.6 and 3.1 million respectively. The revenues from work for third parties (research funded by 2nd and 3rd sources of funding, and contract education) rose by 1.1 million to 179.7 million. Other income rose by 5.8 million to 42.0 million. • Expenditure rose by 28.4 million to 614.1 million (2016: 585.7 million). Staff costs increased by 30.3 million. This increase was mainly caused by the increase in staff numbers by 236 FTE to 6,038 FTE. The tangible costs decreased by 1.8 million. • The result (profit / loss) for 2017, including the balance of the financial income and expenditure, and after including the share of third parties (LUMC), came out at a profit of 4.4 million. • The total assets rose to 567 million (2016: 550.3 million), particularly through an increase in the current assets (26.2 million). • The profit is added to the equity capital, which increases to 236.1 million (2016: 231.7 million). The solvency (percentage of total capital that is equity capital) is 41.6 percent. The University receives from the Ministry of Education, Culture and Science (OCW) the socalled 1st source of funding, which comprises the government contribution for education and research. In addition, the University receives tuition fees and income from third parties. The latter category mainly consists of European grants, NWO grants and revenues from contract education. The changes in these contributions are indicated in the following table. Income 2017 (amounts in M€)
2013
2014
2015
2016
2017
292
309
319
325
337
Tuition fees
44
51
57
61
64
NWO (incl. ZonMw) and KNAW
70
50
52
54
52
EU (incl. ERC)
25
32
34
38
37
Other third parties (incl. contract education)
67
81
87
87
90
Government contribution
Other income
30
33
41
36
42
Total income
528
557
590
601
623
31%
29%
29%
30%
29%
Percentage of total income that is work for third parties
In the following table, the unconsolidated result for 2017 is compared with the budget for 2017 and the actual result for 2016. The budget for 2017 was established by the Executive Board at the end of 2016. These figures do not include the income and expenditure of the education and research activities of the Faculty of Medicine / LUMC (but they do include the grant to the LUMC for these activities) and the income and expenditure of the affiliated parties Libertatis Ergo Holding BV (LEH) and Stichting Praesidium Libertatis, which are included in the consolidated annual financial statements.
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(amounts in Mâ‚Ź)
2017
Budget 2017
2016
3
Income
3.1
Government contribution
337.4
327.0
324.7
3.2
Tuition fees
64.3
62.6
61.2
3.3
Income from work for third parties
94.7
87.5
90.5
3.4
Other income
39.2
31.4
33.8
Total income 4
Expenditure
4.1
Staff costs
4.2
Depreciations
4.3
Accommodation costs
4.4
Other expenditure
535.6
309.5
298.8
30.8
33.3
29.3
39.8
37.1
44.2
139.4
132.4
138.1
531.6
512.3
510.4
4.0
-3.8
-0.2
-1.5
-1.6
-0.3
Result before tax
2.5
-5.4
-0.5
Taxes
0.0
0.0
0.0
Result of participations
2.2
1.5
2.0
Net result
4.7
-3.9
1.5
Balance of income and expenditure
6
510.2
321.6
Total expenditure
5
508.5
Financial income and expenditure
Budget 2017 and actual result 2017 and 2016 (unconsolidated) The net result for the 2017 financial year is a profit of 4.7 million euros, which is 8.6 million more than the budgeted loss of 3.9 million. The difference between the budget and the actual result (unconsolidated) can be explained in outline as follows: Change in result compared with budget 2017 Budgeted result
-3.9
Effect on result of increase in government contribution (change in macro-framework)
3.6
Repayment of loan by LUMC (release of provision for joint ventures)
1.7
Provision for transitional payment, incl. loss-making contracts
8
2017
-3.0
Higher refund of VAT on indirect costs
2.2
Change in value of swap
1.0
Improvement in result of LEH participations
0.8
Balance of various items charged to allocation (incl. contribution ISSC, NINO)
-2.5
Change in result of innovation funding
-1.2
Improvement in result of area development
0.3
Improvement in result of units and work budgets
5.7
Actual result 2017
4.7
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Income • Government contribution: this item comes out at more than € 10 million higher than budgeted. The main changes are an adjustment of the macro-framework of the Ministry of Education, Culture and Science (OCW) (€ 3.5 million) and the 2017 wage & price adjustment received from OCW (€ 7 million). • Tuition fees: the tuition fees are higher (€ 1.7 million) than the budgeted level, because of a higher number of enrolled (international) students. • Income from work for third parties: this item comes out at € 7.2 million higher than the budgeted level; this relates to an increase in income from the 3rd source of funding in various units (including contract education). • Other income: this income stands at approximately € 7.8 million higher than the budgeted level; in addition to the various increases in the units, this also relates to an increase in the income of Real Estate Development and a higher refund of VAT on indirect costs. Expenditure • Staff costs: the staff costs amount to more than € 12 million higher than budgeted. This is attributable to the new Collective Labour Agreement (CAO) (wage increase 1.4 percent), higher staff numbers than budgeted, the costs for provisions (including allocation to the transitional payment) and an increase in hiring temporary staff in various units. • Depreciations: the depreciation costs come out at € 2.5 million lower than the budgeted level. • Accommodation costs: these costs come out at approximately € 2.7 million higher than the budgeted level, partly because of longer maintenance of the Gorlaeus high-rise building and the LCP building, and also because the preparation costs of major investment projects were charged to the operating costs. • Other expenditure: this expenditure comes out at € 7 million higher than budgeted. Part of this relates to the transfer of the Gravitation grants (to be) received from the Ministry of Education, Culture and Science (OCW) to other participating universities, and also the rise in expenses in line with the increase in the income of various units. Financial income and expenditure The balance of the financial income and expenditure comes out at approximately the budgeted level. The effects on the interest – in connection with the repayment of an existing loan by the LUMC – and the increase in the value of the swap (€ 1 million) more or less cancel each other out. Participations This item shows the change in the value of Libertatis Ergo Holding BV (LEH). The result amounts to a profit of € 2.2 million (the budgeted amount was € 1.5 million).
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Consolidated Annual Financial Statements
Consolidated balance sheet (after appropriation of profit) (amounts in Mâ‚Ź) 1
31-12-2017
31-12-2016
Assets Fixed assets
1.1
Material fixed assets
321.9
327.7
1.2
Financial fixed assets
19.1
22.8
Total fixed assets
341.1
350.5
Current assets 1.3
Stocks
1.4
0.8
0.8
Receivables
37.9
36.7
1.5
Securities
17.9
18.0
1.6
Liquid assets
169.4
144.3
Total current assets
226.0
199.8
Total assets
567.0
550.3
2
Liabilities
2.1
Group capital
2.1.1
Equity capital
2.1.2
Minority interest of third parties
235.8
231.4
0.3
0.3
Total group capital
236.1
231.7
Loan capital
10
2.2
Provisions
30.7
34.2
2.3
Long-term creditors
64.3
64.9
2.4
Short-term creditors
236.0
219.6
Total loan capital
331.0
318.6
Total liabilities
567.0
550.3
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Consolidated statement of income and expenditure (amounts in Mâ‚Ź) 3
Income
3.1
Government contribution
3.2
Tuition fees
3.3
Income from work for third parties
3.4
Other income
3.5
Total income
4
Expenditure
4.1
Staff costs
4.2 4.3 4.4
Other expenditure
2017
337.4
324.7
64.3
61.2
179.7
178.6
42.0
36.2 623.4
600.7
419.3
389.0
Depreciations
34.4
33.0
Accommodation costs
44.2
48.0
116.3
115.7
Total expenditure
614.1
585.7
9.3
15.0
-1.1
0.0
8.2
15.0
-0.3
0.5
1.8
2.1
10.4
16.6
Share of third parties in result (LUMC)
6.0
14.8
Net result
4.4
1.8
Balance of income and expenditure 5
2016
Financial income and expenditure Result before tax
Taxes Result of participations Result after tax
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Consolidated statement of cash flows (amounts in Mâ‚Ź)
2017
2016
4.4
1.8
Cash flow from operating activities Net result Corrected for: Depreciations (excl. LUMC)
30.8
29.4
Changes in provisions (excl. LUMC)
-3.5
4.0
Subtotal
27.3
33.3
Changes in current assets Stocks Receivables
0.0
0.0
-1.2
-0.9
0.1
1.5
16.5
1.4
Securities Short-term creditors Total cash flow from business operations
15.4
2.1
Total cash flow from operating activities
47.0
37.3
Cash flow from investment activities Investments in tangible fixed assets
-24.9
-38.7
Disinvestments in tangible fixed assets
0.0
-0.3
(Dis)investments in participations
0.2
0.3
Changes in loans
3.3
Total cash flow from investment activities
1.2 -21.3
-37.4
Cash flow from financing activities Increase in long-term creditors Repayment of long-term creditors
1.3 -1.8
-0.9
Total cash flow from financing activities
-0.6
0.9
Change in liquid assets
25.1
0.7
144.3
143.6
Opening balance of liquid assets Change in liquid assets Closing balance of liquid assets
12
1.8
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25.1
0.7
169.4
144.3
Unconsolidated Annual Financial Statements
Unconsolidated balance sheet (after appropriation of profit)
(amounts in Mâ‚Ź) 1
31-12-2017
31-12-2016
Assets Fixed assets
1.1
Tangible fixed assets
321.9
327.7
1.2
Financial fixed assets
37.6
39.6
Total fixed assets
359.4
367.2
Current assets 1.3
Stocks
1.4
Receivables
1.5
Securities
1.6
Liquid assets
0.8
0.8
36.5
35.8
0.0
0.0
150.1
125.7
Total current assets
187.4
162.3
Total assets
546.8
529.6
218.0
213.3
2
Liabilities
2.1
Equity capital
2.1.1
Equity capital Loan capital
2.2
Provisions
30.6
34.2
2.3
Long-term creditors
64.3
64.9
2.4
Short-term creditors
234.0
217.2
Total loan capital
328.9
316.3
Total liabilities
546.8
529.6
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Unconsolidated statement of income and expenditure
(amounts in Mâ‚Ź) 3
Income
3.1
Government contribution
3.2 3.3 3.4
2017
2016
337.4
327.0
324.7
Tuition fees
64.3
62.6
61.2
Income from work for third parties
94.7
87.5
90.5
Other income
39.2
31.4
33.8
Total income
535.6
508.5
510.2
4
Expenditure
4.1
Staff costs
321.6
309.5
298.8
4.2
Depreciations
30.8
33.3
29.3
4.3
Accommodation costs
39.8
37.1
44.2
4.4
Other expenditure
139.4
132.4
138.1
Total expenditure
531.6
512.3
510.4
4.0
-3.8
-0.2
-1.5
-1.6
-0.3
Result before tax
2.5
-5.4
-0.5
Taxes
0.0
0.0
0.0
Result of participations
2.2
1.5
2.0
Net result
4.7
-3.9
1.5
Balance of income and expenditure 5
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Budget 2017
Financial income and expenditure
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Unconsolidated statement of cash flows
(amounts in Mâ‚Ź)
2017
2016
4.7
1.5
Cash flow from operating activities Net result Corrected for: Depreciations (excl. LUMC)
30.8
29.3
Changes in provisions (excl. LUMC)
-3.6
4.0
Subtotal
27.2
33.3
Changes in current assets Stocks
-0.1
-0.1
Receivables
-0.7
-1.0
Short-term creditors
16.9
1.2
Total cash flow from business operations
16.2
0.2
Total cash flow from operating activities
48.1
35.0
Cash flow from investment activities Investments in tangible fixed assets
-25.0
-38.8
0.0
-0.1
-2.2
-2.0
4.1
4.4
Disinvestments in tangible fixed assets (Dis)investments in participations Changes in loans Total cash flow from investment activities
-23.1
-36.5
Cash flow from financing activities Increase in long-term creditors Repayment of long-term creditors
1.3
1.8
-1.8
-0.9
Total cash flow from financing activities
-0.6
0.9
Change in liquid assets
24.4
-0.6
125.7
126.3
24.4
-0.6
150.1
125.7
Opening balance of liquid assets Change in liquid assets Closing balance of liquid assets
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