The University of Luxembourg’s Board of Governors has approved the 2016 annual accounts for the University. The accounts, showing a positive balance, will be submitted to the Government for approval. At the same meeting, the Governance Council unanimously approved the University's 2017 budget of €213 million, up €12 million on 2016.
It is hoped the 2017 budget will enable the University to continue its path towards excellence in research and teaching.
The Governance Council noted the advice of the University Council and invited the rector to improve the administrative and budgetary processes without delay. Being an effective institution in key areas of research and higher education, the University must also apply the principle of excellence in its administration and management. In the interest of public finances, the Governance Council has ensured the principle of "just fairness" in fiscal policy 2017.
Referring to section 47 of the University Act, the Governance Council also determined that the fiscal framework for fiscal year 2018 is balanced and growing. With a 2017 budget in place, the University can focus on its missions and devote itself to the development of the new 2018-2021 Quadrennial Plan.
