CBS receives surprising Christmas present: DKK 20m

Skrevet af Jannick Friis ChristensenMia Mathilde HansenJesper Snedker Adamsen, (versioning) - Foto: © Dennis Jacobsen | Dreamstime.com - 11. januar 2016 - 15:050 kommentarer
CBS has received an impressive Christmas present from the Minister for Higher Education and Science and it is non-refundable.

CBS leaps into a new year just as the Ministry of Higher Education and Science has decided to funnel an extraordinary grant of DKK 20m to CBS. The extraordinary financial aid is a lump sum and is to be used to cover the budgeted deficit for the year 2016. The good news was recently posted on CBS’ intranet, CBSshare. 

They say that Christmas is the time for miracles. Well, miracle or not, at least December proved to be the month when one of CBS’ biggest wishes came true in the form of a generous ‘Christmas present’ from the Ministry of Higher Education and Science: a helping hand, financially speaking.

The lump sum of DKK 20m ensures a balanced budget for the year 2016 at CBS as budget plans had projected an overall deficit of DKK 20m.

The information posted on CBSshare also reveals that CBS’ management interprets the extraordinary financial assistance as an indication that the Ministry of Higher Education and Science is aware of CBS’ fragile financial situation, which is due to the relatively low basic grants CBS receives in comparison to other Danish universities – however, a one-off payment does not change anything in the longer run, but merely stops the bleeding temporarily.