The Board of Trustees accepted the University’s budget for 2022

Budget with solid basis 

Pursuant to the decision made by the Board of Trustees, the Corvinus University of Budapest may plan for 2022 with a budget of HUF 24.81 billion, to which the Foundation provides a grant of HUF 11.33 billion.  

Earlier the Senate discussed the 2022 budget in two rounds, and as Chancellor Ákos Domahidi explained at the last meeting of the Board, as a result of negotiations, they have a conservative budget that is primarily based on so-called low-risk, i.e. very safe revenues. This way revenues dropped from the previously planned HUF 14.66 billion to HUF 13.8 billion, and some of the planned developments were added to contingency to be implemented when the University is able to collect more funds. Although planned expenses have also been cut, next year’s budget is still two billion HUF higher than the actual budget expected for 2021. The support requirement indicated to the maintaining foundation dropped to HUF 11.333 billion, and that is identical with their expected dividend income. 

There has been no change in staff costs: the budget specifies that the rate of increase in wages in 2022 cannot be less than it was in 2021, which means 8 per cent in the service area, and 12 per cent in the academic area. 

Educational excellence and reformation of awards 

The Board of Trustees have accepted the concept for the restructuring of the University’s employment requirements. The modification’s primary objective is to make sure that the new regulations are better aligned with the complex regulation order of the University, therefore there will be significant additions in two topics during the year. 

The academic career model introduced in January 2021 identified expectations at theoretical level for the quality of educational activities, and the new regulations will already contain the framework that allows practical use (academic excellence model).   

The other important step is the transformation of the order of awards at the University that has not changed since 2016. According to the proposed new concept, there will be new awards to recognise not only individual but community results, too, so they will encourage the colleagues to work in teams. The plans also include the idea the Employee of the Year award would be decided in a bottom-up community initiative, and there will be a prize founded by a board of trustees, it would be granted for efforts made for the future generation. 

The detailed worked out rules will be communicated by the University’s leadership to the Senate. 

Change in the MUC Board of Trustees 

János Martonyi, who originally agreed to be in position until July 2021, resigned from the Board, and then, after a half-year extension, he stepped down on 31 December. The foundation and the leadership of the University are grateful for his involvement in the preparation and the implementation of the model change. The Board of Trustees continues its work with the present members.