ANNUAL REPORT 2008 - Aarhus Universitet · 2013. 1. 23. · 2008 ANNUAL REPORT. This Annual Report...

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2008 ANNUAL REPORT NAME OF SECTION1

CONTENTS

1. Report for 2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

2. Key figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

3. Performance reporting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

4. Statement by the Management on the Annual Report and Auditors' Report . . . . . . . . . . . . . 9 4.1 General information on the University . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 4.2 Statement by the Management on the Annual Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 4.3 Auditors' Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

5 Financial statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 5.1 Accounting policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 5.2 Income statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 5.3 Balance sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 5.4 Statement of changes in equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 5.5 Cash flow statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 5.6 Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

6. Appendices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 6.1 General outline of the performance targets laid down in the development contract . 25 6.2 Overview of activity types . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 6.3 Costs in 2008 broken down by purpose . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 6.4. Overview of key figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34

Abbreviations and colophon . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36

CONTENTS

2008 ANNUAL REPORT2

This Annual Report contains a report on the activities of Aarhus Uni-versity in 2008, comprising all activities at Aarhus University after the amalgamations in 2006 and 2007.

2008 marked the 80th anniversary of Aarhus University. With 64 stu-dents, it was humble beginnings, but the dreams and the plans were ambitious. Status for the University today is 35,000 students, 10,000 employees and networks and research results that reach into the farthest corners of Denmark and the rest of the world. The objective is to have a university that is not self-sufficient and insists on a fruitful interaction with the external environment. This is clearly expressed in the University's vision: We want to contribute to the development of national and global welfare, and this is reflected in the four pillars of the strategy: Excellent research, Focused talent development, Inspir-ing consultancy and knowledge transfer and World-class education and knowledge dissemination.

Excellent researchIn 2008, Aarhus University's efforts to become a university in the in-ternational premier league were rewarded with impressive rankings on two of the most renowned university ranking lists, Shanghai and Times Higher, where the University advanced to the top 100 as no. 93 and no 81. These are excellent rankings for a university this young and the achievement is put further into perspective when you consider that there are 17,000 universities in the world today.

2008 was an excellent year for the University in terms of research funding won in open competition with other Danish and foreign universities – clearly indicating that the quality of our research is recognised by external players. The external research grants totalled DKK 1,283 million – an increase of 18 per cent as compared to 2007. To be able to maintain and expand its favourable position, the University expanded its agreement with the hospital Aarhus Sygehus on grants from the Research Support Office. This means that all researchers at the University now have access to professional assistance when they organise and present research projects.

The University has been very successful in adding cooperation and multidisciplinarity to its research and in 2008 developed its position as the most comprehensive university in Denmark. One example is the MINDLab project. With a grant of DKK 120 million and the involvement of researchers from health and social sciences as well as science, theology and the humanities, its purpose is to examine the function, diseases and development of the brain. Another multidisciplinary project which received a major grant was DAGMAR – a project designed to provide solutions for genetic diseases using so-called "transgenic animal models" of zebra fish, mice and pigs. International cooperation is also thriving, and the University's particle accelerator which is visited by 150 international researchers each year won a significant grant for expansion of the facilities. Another very international project is the Faculty of Agricultural Sciences' venture within the improvement of livestock, so-called genomic selection, on which more than DKK 700 mil-lion will be spent over the coming years. The Danish Ministry of Food and cooperation partners from the business community in Denmark, Sweden and Finland are behind this project.

The University's researchers strive to present and disseminate their knowledge and for the first time ever, more than 10,000 research, dissemination and education publications were produced. The Uni-versity's researchers have, in particular, increased their publications in peer-reviewed journals in recent years, and 2008 was no exception with 3,995"peer reviewed" articles. The development in these journals is important as it shows that the University's researchers attract inter-national attention, which is completely in line with the ambitions in the strategy. Another indicator of the international research quality is the prestigious European Research Council grants. Of the six ERC grants awarded to Danish researchers, five were affiliated with Aarhus University. And two of Denmark’s Minister for Science, Technology and Innovation's five EliteForsker prizes to outstanding researchers under the age of 45 were awarded to Aarhus researchers.

When it comes to various research prizes, the international com-

1. REPORT

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2008 ANNUAL REPORT NAME OF SECTION3

mitment also stands out. Researchers from Aarhus University were awarded, among other prizes, the Thai Princess Chulabhorn's Gold Medal, the prestigious American Bird, Stewart and Lightfoot (BSL) Lectureship Prize and the EU Environment Award. In Denmark, AU re-searchers won awards from the Danish Academy of Technical Sciences, Tietgen, Statoil, DEA and many more. The University also awarded prizes. For example, the Holst-Knudsen's Science Prize was awarded to Professors Lene Hau and Tim Bollerslev, both former students at Aarhus University and now heads of major research projects at Har-vard University and Duke University. Andreas Roepstorff, one of the mainstays in the University's work with cognition, was also awarded the Holst-Knudsen Science Prize.

Focused researcher talent developmentThe younger researchers are the future of the University and their results and work in 2008 makes the future look bright. Four of the very reputed EliteForsk travelling scholarships for stays at elite institutions abroad were awarded to PhD students at Aarhus University, and the Lundbeck Foundation's Research Prize for Young Scientists as well as prizes from Grundfos and Tuborg were won by PhD students at the University. The young researchers also won honour and glory internationally and both the European Doctoral Researcher Prize and Deutsche Gesellschaft für Soziologie's prize were awarded to young researchers at the University.

The eight graduate schools at the University are the cornerstone of the comprehensive work of developing the next generation of researchers, and the school at the Faculty of Agricultural Sciences SAFE (Graduate School of Agriculture, Food and Environment), among other, has been off to a successful start. Since the school was started only two years ago, more than 80 PhD students have been enrolled. That Aarhus University is an attractive workplace seen from a foreign point of view is emphasized by the Faculty of the Humanities' receipt of applications from more than 70 international students in the most recent PhD application round.

Inspiring consultancy and knowledge transferThe University wants to be an active player, participating in the de-velopment of knowledge and competence levels in the business community and public institutions. With this in mind, the University set up Aarhus Entrepreneurship Centre in 2008. Its activities will range from individual coaching, course activities and education in entrepreneurship to administration of knowledge workshops and exchange of business ideas.

In 2008, the University's income from research-based public-sector consultancy exceeded half a billion Danish kroner, and 455 cooperation agreements were concluded with private and public enterprises, an increase of almost 65 per cent as compared to 2006 and far exceed-ing the target set up in the University's development contract with the Ministry of Science.

One of the University's major focus areas in terms of international knowledge transfer, is the Chinese venture. In 2008, Aarhus Univer-sity was one of the frontrunners, participating in the development of the Danish-Chinese cooperation and assuming leadership in the

negotiations on this cooperation at the coming international campus in Beijing. Also, it should be mentioned that the Danish School of Education hosted the International Alliance of Leading Educational Institutes. The alliance brings together leading educational theory institutions, for example to publish the international journal Educa-tion Alliance Quarterly. Also, through a wide range of conferences, the University strived to ensure that all this knowledge is shared with the external environ-ment. Aarhus University is organising two major climate conferences up to the UN climate conference in Copenhagen in 2009, the first of which was held in the autumn of 2008 under the heading "The role of information in an age of climate change". The purpose was, among other things, to mark the 10-year anniversary of the signing of the "Aarhus Convention", which is an international convention on access to information, public participation and access to justice in environmental matters. The climate challenge is one of the biggest challenges currently faced by man, which is confirmed in a new pub-lication from the National Environmental Research Institute (DMU) on 10 years of research and monitoring in Northeast Greenland where global warming is seen first and most clearly.

The University wants to contribute constructively to the public debate, a good example of which is the much reputed Danish Action Plan for the Aquatic Environment III, which was evaluated by the Danish Institute of Agricultural Science (DJF) and DMU in 2008. The results are important, both for the national political process and for the specific aquatic plan prepared by local environmental administrations as part of the implementation of EU's Water Framework Directive. Other examples of research that supports and promotes the public debate include the conference held by the Faculty of Theology on religion in the public with the participation of iconic Jürgen Habermas, and the establishment of a Centre for Research in Compulsory Schooling at the Danish School of Education is a strategy of immense value for a meaningful political debate on one of the cornerstones in our welfare society.

World-class education and knowledge disseminationIn 2008, Aarhus University published a very extensive survey on stu-dent welfare. All students were encouraged to answer a number of questions on welfare within a number of specified areas. Almost 8,500 responded, and the survey shows that 83 per cent of the students feel really comfortable in their studies and more than 84 per cent are satisfied or very satisfied with their education at Aarhus University. The University sees this as a very positive result, indeed. Naturally, there is room for improvement, and the students would for example like to have more contact with the teachers, more and better guidance and feedback on their academic performance and more transparency in requirements and assessment criteria at exams. To help future student make a decision about their choice of educa-tion, Aarhus University launched a new initiative in June 2008 in the form of a rolling guide. A specially designed bus visited 13 towns in Jutland and Copenhagen, offering future students advice in terms of choosing the right education. As part of the rolling guide, a chat guide was set up at Aarhus University under the name "nemvejledning.dk". With many satisfied visitors, the initiatives proved to be a success and

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2008 ANNUAL REPORT4

are expected to be repeated in 2009. Aarhus University's objective is to use the University's full academic width to develop new programmes that reflect future needs. 2008 also saw a number of new, innovative programmes. For the very first time, the Faculty of Agricultural Sciences welcomed students on a new Bachelor's degree programme and five new Master's degree pro-grammes, and the Institute of Business and Technology has expanded the existing range of graduate engineer (BSc) programmes with an MSc programme in technology-based business development. The Aarhus School of Business also has a strong programme profile with two new business lines with a special society profile that supports the Aarhus School of Business' efforts to ensure intelligent growth, innovation and sustainability. Finally, Aarhus University and the Aarhus School of Engineering are now focusing their efforts on educating engineers for demanding development tasks with the establishment of the Aarhus School of Engineering.

Fascinating things are going on at Aarhus University during the summer holiday, and in 2008, Aarhus University worked together with Harvard University on the summer school Viking Studies in Scandinavia, which was affiliated with the Faculty of the Humani-ties. The Aarhus School of Business offered its international summer school – ASB Summer University – with more than 400 participants from all over the world.

Researchers from Aarhus University participated in the Danish Univer-sity Extension a total of 767 times in 2008. These researchers live to disseminate their research. And with more than 35,000 participants, 2008 was another record year for the Danish University Extension. With the University's wider reach, it now also offers lectures in Hern-ing and Emdrup and thereby supports the university's ambition to disseminate knowledge throughout the country.

Finally, the establishment of the Global Dialogue Prize should be emphasised. The prize is awarded for extraordinary research work in intercultural dialogue and is set up in cooperation with the Munici-pality of Aarhus, Central Denmark Region, Grundfos and VisitAarhus Events. The prize is DKK 500,000, which makes it one of the biggest humanities prizes worldwide.

The University Board's work in 2008In 2008, the University Board was engaged in a wide range of very different cases. Important tasks for the Board included the ongoing follow-up on the amalgamations and the University's strategy as well as the formation of a new development contract between the University and the Ministry of Science. Its work also comprised the University's agreements on research-based public-sector consul-tancy, and the Board was involved in the debate on the University's degrees of freedom, simplification of rules and independence. To this should be added the preparation of a vision plan for the physi-cal expansion in Aarhus for 2008 – 2028 and a wider range of major construction projects during the year and the 2009 budget work. Finally, the Board was involved in the approval of new and exciting programmes and the appointment of a new University Director and a new Pro-Vice-Chancellor.

Financial results for the yearThe financial statements are presented in accordance with the rules in the Executive Order on the Funding and Accounts etc. of Universities. The University's revenue was DKK 4,770.1 million. The realised loss was DKK 16.0 million, and ordinary operating activities saw a loss of DKK 60.8 million. The balance sheet total as at 31 December 2008 is DKK 2,843.3 million.The year was characterised by some uncertainty due to the late adoption of the Danish Finance Act (April 2008) and the quite ex-tensive redistribution from the Finance Bill for 2008 (August 2007) to the Finance Act for 2008. Among other things, a redistribution of rent overheads on research funding was introduced, a construction freeze and forced savings. Furthermore, the disbursement of Danish University and Property Agency's (UBST's) pool funds, including glo-balisation funds, was delayed. Mid-2008, DJF and DMU were included in the state property administration, the so-called SEA rent scheme and in the redistribution of rent overheads on research funding.

Due to this transition, 2008 saw rent increases, increased funding under the Finance Act and a reduction of depreciation, amortisation and interest costs.

In general, these measures and the subsequent uncertain founda-tion for the University's planning processes means that the year was characterised by a certain reluctance to initiating new activities, and already planned construction activities have been postponed due to the construction freeze. Accordingly, consumption was lower than anticipated in the original 2008 budget which was prepared on the basis of the Finance Bill for 2008 (August 2007).

The University's income comprises grants over the Finance Act for education and research as well as contractual agreement on the delivery of public-sector consultancy services to the Danish Ministry of Food and the Ministry of the Environment. From 2008, the grants also comprise rent subsidies whereas the previous capital appropria-tion has disappeared. To this should be added income in the form of grant-financed research, other external grants and sales. In 2008, staff costs amounted to DKK 2,983.5 million, corresponding to 62 per cent of the University's total ordinary costs.

The University Board and the Vice-Chancellor regard the realised result as satisfactory. The University spent the funding in a way that best reflects the University's vision, strategy, development objectives and prioritised activities. In addition, the financial resources must be used efficiently and responsibly with due consideration of both the tasks at hand and long-term development and innovation.

Table 1. Income statement for 2008, DKKm

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Total, DKKm

Ordinary operating income 4,770.1

Ordinary operating costs 4,830.9

Profit/loss from ordinary operating activities -60.8

Net financials 44.8

Net profit/loss for the period -16.0

2008 ANNUAL REPORT5 FINANCIAL RATIOS

2. KEY FIGURES

Production, years of full-time study

PhD degrees awarded

Publications

*) Stated specially in 2005 and 2006

Total income 2004-2008DKK '000 in prices for the year

0

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2007200620052004 2008

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SAM

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2007200620052004 2008

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DJF


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200720062005 2008

AU i alt

ASB

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DJF *)

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2008 ANNUAL REPORT6

Performance reportingThis performance report is the first report on Aarhus University's development contract 2008-2010. The development contract was concluded with effect from 1 January 2008, almost solely on the basis of 2006 figures, i.e. figures from the time before the university amalgamations came into force.

It was important for Aarhus University to conclude an ambitious development contract. This wish was based on a clear expectation that the University, e.g. through the globalisation funds, would find it possible to considerably expand its activities during the contract term. The contract was also based on an expectation that a number of amalgamation benefits may be reaped over this contract term.

The full report on the development contract is enclosed as Appen-dix 6.1. The table below shows a general report on the 40 targets in the development contract. As can be seen, Aarhus University has achieved the targets set up in most of the measuring points – 34 in total – or has seen a very positive development as compared to the point of departure in 2006. However, it is clear that due to the delayed disbursement of the globalisation funds, Aarhus University has failed to achieve all the expected targets in 2008. Also, the amalgamation process has required considerable resources in 2008 with the effect that other areas have been given a lower priority. However, this does not change the long-term targets set up in the contract. The

target achievement is shown using a colour code, indicating whether the target was achieved in 2008 (green), whether the results show clear progress in 2008 (yellow) or whether the target has not been achieved for 2008 (red). In this connection, it should be noted that any failure to achieve targets in 2008 does not change the related long-term target.

A number of indicators cover activities that are in the process of being implemented as standard procedures at Aarhus University – and where the results for 2008 have by far exceeded the targets set up in the development contract. Aarhus University considers suggesting that the relevant indicators be removed from the coming development contract, as they are fully integrated in the University's other activities.

Below is an analysis of four selected areas covering important aspects of the University's activities.

Attraction of external non-government fundsIn the development contract, the volume of external non-govern-ment funds has been broken down into EU funds and Other Danish private and foreign funds. The target figures showing the utilisation in 2008 show a minor fall in the EU funds and an increase for the other external non-government funds so that the 2008 total largely corresponds to the overall target figures. The figures also show that

3. PERFORMANCE REPORTING

PERFORMANCE REPORTING

Summary – status for target achievement (number)Total no. of targets 40

The target has been achieved for 2008 25

The result shows a clear positive development in 2008 9

The target has not been achieved for 2008 6

2008 ANNUAL REPORT7

Aarhus University receives considerable funds from the EU but that the volume of other external, non-government funds is considerably higher. Hence, in 2008, utilisation in the last group was four to five times higher than the utilisation of EU funds.

Upgraded research support To further support the ambitious target in this area in the development contract, an agreement was concluded in April 2008 ensuring that the Research Support Office at the hospital Århus Sygehus provide research support to Aarhus University. Such research support com-prises e.g. service to researchers in connection with applications for financing of research projects, offers for relevant teaching and access to research Intranet and more comprehensive information service. The services of this unit have been widely used, clearly adding to the expectations that the quality of applications – and therefore the suc-cess rate and the total appropriations – will increase in future.

PhD activitiesGraduate schoolsAcross its eight graduate schools, Aarhus University has started preparing an overall Aarhus University action plan for ensure fur-ther quality assurance and development of the graduate schools. The work has been divided into eight sub-areas: Recruitment and admission, internationalisation, quality in the PhD programmes, guidance, teaching and PhD courses, dissertation, labour market and framework and finances.

A full report will be available in the summer of 2009 with proposals for a number of measures relating to the quality of the graduate schools.

Furthermore, Aarhus University has started developing a joint on-line system for all administrative procedures relating to the PhD programme. The system has three phases: 1. An application system

used in all graduate schools, 2. A portfolio system which is in its pilot phase and expected to be in operation in all graduate schools in the summer of 2009 and 3. Finances which is in its planning phase.

PhD admission and number of conferred degreesFocused talent development is central to the strategy of Aarhus University. This can be seen in the considerable increase in PhD admissions, as the University admitted almost 50 per cent more PhD students in 2008 than in 2006. This means that there are now 1,430 PhD students at Aarhus University. In the years to come, this considerable increase will lead to a corresponding rise in the number of conferred PhD degrees. However, the full effect still remains to be seen in 2008, as the increase compared to 2006 is not quite as high as expected.

Education quality assurance Programme quality Teaching evaluation is a very important part of Aarhus University's regular education quality assurance. Therefore, teaching evaluation forms part of the policy on programme quality adopted by Aarhus University in the autumn of 2008 following a thorough debate on principles and policy in relevant committees and forums, including the University Board. The policy comprises six main themes: Recruitment and admission, Structure and course, Development in teaching, Study environment, Programme development and Programme relation to the labour market. Teaching evaluation belongs under Development in teaching where it is specified that the objective of evaluations is to take the students' evaluations of teaching into account. This policy is now to be implemented in a quality system where teaching evalua-tion and its publication will be organised.Study environment strategyIn April 2008, Aarhus University adopted a vision plan for 2008-2028 for the physical expansion in Aarhus. With the vision plan, which has been prepared by the Vice-Chancellor's office in cooperation with the Municipality of Aarhus and the Danish University and Property


2008 ANNUAL REPORT8

Agency, the University has presented a plan to provide the required physical framework for the expected growth and research and devel-opment of staff facilities and study environments for the Aarhus part of Aarhus University. Generally, the purpose of the plan is to maintain the University's position as a campus university and to project the area requirement within a period of 20 years. With this plan, the University has presented its plans to expand the existing University area and take over suitable areas in the surrounding community, including the hospital Aarhus Sygehus, Nørrebrogade.

Research-based public-sector consultancyNumber of conferred PhD degreesAarhus University has set the stage for a significant increase in con-ferred PhD degrees within the academic areas supporting research-based public-sector consultancy. However, the target for 2008 has not been achieved, as production still equals the level in 2006. The University expects, however, to achieve the target for 2010, corre-sponding to an increase of more than 75 per cent. With the establish-ment of its own PhD programmes and a new graduate school, DJF has focused its efforts for 2007 and 2008 here. In the years to come, this effort will lead to a continued considerable rise in the number of conferred PhD degrees. At DMU, the other major contributor to this area, both 2007 and 2008 have seen the initiation of many more PhD projects as part of a strategic growth which is partly financed through globalisation funds.

Income from public-sector consultancy The total income from research-based public-sector consultancy at Aarhus University rose considerably from 2006 to 2008 and now totals more than DKK 585 million against the target of DKK 476 mil-lion for 2008.

The two former government research institutions, DJF and DMU, are both in close dialogue with the relevant ministries. Accordingly, DJF

has held four quarterly contact meetings in 2008 with the Ministry of Food, reporting on the six theme areas in the contract, Climate and natural resources, Environment and bioenergy, Organic farming, Food quality, Livestock production and Plant production. The report focused on urgent and new public-sector consultancy and the un-derlying research. In 2008, DJF and the Ministry of Food developed the dialogue for the benefit of both parties. Similarly, DMU has set up a structure together with the Ministry of the Environment and the Ministry of Climate and Energy for contact meeting to ensure an ongoing dialogue on current and future knowledge needs. This dialogue is important for the continued financing of the strategic research as basis for public-sector consultancy - financing which DMU must procure via both national and international research programmes offered.


2008 ANNUAL REPORT9

4. STATEMENT BY THE MANAGEMENT ON THE ANNUAL REPORT AND AUDITORS' REPORT4.1 GENERAL INFORMATION ON THE UNIVERSITY

STATEMENT BY THE MANAGEMENT ON THE ANNUAL REPORT AND AUDITORS' REPORT

The University Aarhus University, Nordre Ringgade 1, 8000 Aarhus C, Denmark

Registered in Municipality of Aarhus, CVR No.: 31119103

University Board 2008 Jens Bigum Sys RovsingChairman Alternate

Jens Ulrik Andersen (to 31.1.2008) Freja Boe-Hansen (to 31.1.2008) Employee representative (academic staff) Observer. Student representative

Jørgen Grønnegaard Christensen (to 31.1.2008) Kirsten JakobsenEmployee representative (academic staff) Employee representative (technical and administrative staff)

Kjeld Holm Erik Højsholt

Christian Jølck, Jens KampmannStudent representative

Svend Krarup Mikkel Freltoft Krogsholm (from 1.2.2008) Student representative

Simon Krøyer (to 31.1.2008) Thomas Ommen (to 31.1.2008)Student representative Student representative Erik Strange Petersen (from 1.2.2008) Johannes RiisEmployee representative (academic staff)

Arne Josefsen Rolighed Martin Tang Sørensen (from 1.2.2008) Employee representative (academic staff)Peter Borgen Sørensen (to 31.1.2008)Employee representative (academic staff)

2008 ANNUAL REPORT10 STATEMENT BY THE MANAGEMENT ON THE ANNUAL REPORT AND AUDITORS' REPORT

Management 2008 Vice-Chancellor Lauritz B. Holm-Nielsen Pro-Vice-Chancellor Nina Smith Pro-Vice-Chancellor Mette Bock (to 14.1.2008)Pro-Vice-Chancellor Søren E. Frandsen (from 1.6.2008)University Director Niels Højberg (to 1.12.2008) Dean (Humanities) Bodil Due Dean (Health Sciences) Søren Mogensen Dean (Social Sciences) Svend Hylleberg Dean (Theology) Carsten Riis Dean (Science) Erik Meineche Schmidt Dean (DJF) Just Jensen Director General (DMU) Henrik Sandbech Dean (ASB) Børge Obel Dean (DPU) Lars Qvortrup

Auditors Rigsrevisionen Landgreven 4, P.O. Box 9009, 1022 Copenhagen K, Denmark

Institutional auditor PricewaterhouseCoopers Jens Chr. Skous Vej 1, 8000 Aarhus C, Denmark

Lawyer Advokatfirmaet Poul Schmith (Legal Advisor to the Danish Government) Vester Farimagsgade 23, 1606 Copenhagen V, Denmark

Bank Danske Bank Kannikegade 4, 8000 Aarhus C, Denmark

2008 ANNUAL REPORT11

The University Board has today considered and adopted the Annual Report of Aarhus University.

The Annual Report has been presented in accordance with Executive Order No. 1373 of 10 December 2007 on the Funding and Accounts etc. of Universities.

It is hereby confirmed:1. that the Annual Report gives a true and fair view, which means

that it is free from material misstatement and omissions and that the presentation and achievement of targets in the Annual Report are adequate;

2. that the financial transactions included in the financial statements are consistent with legislation and other provisions as well as agreements made and general practice; and

3. that procedures have been set up which ensure a fi nancially ef- that procedures have been set up which ensure a fi nancially ef-that procedures have been set up which ensure a financially ef-ficient administration of the funds covered in the Annual Re-port.

4.2 STATEMENT BY THE MANAGEMENT ON THE ANNUAL REPORT.

Aarhus, 27 April 2009

Lauritz B. Holm-NielsenVice-Chancellor

Nina SmithPro-Vice-Chancellor

Søren E. FrandsenPro-Vice-Chancellor

Jørgen JørgensenUniversity Director

UNIVERSITY BOARD

Jens BigumChairman

Sys RovsingAlternate

Michael Christiansen Erik Højsholt Kirsten Jakobsen

Christian Jølck Mikael Bomholt Nielsen Erik Strange Petersen

Johannes Riis Arne Josefsen Rolighed Martin Tang Sørensen



Independent auditors’ reportThe University Board of Aarhus University has appointed Pricewater-houseCoopers institutional accountant in accordance with S. 28(5) of the Danish University Act. Rigsrevisionen is responsible for the overall audit in accordance with the Danish Auditor General's Act.

To the Management of Aarhus UniversityAuditors' ReportWe have audited the Annual Report of Aarhus University apart from Chapter 3, Performance reporting, and Chapter 6, Appendices. The Annual Report has been prepared in accordance with Executive Order No. 1373 of 10 December 2007 on the Funding and Accounts etc. of Universities.

Management’s responsibility for the Annual ReportThe Management is responsible for preparing and presenting an an-nual report that gives a true and fair view in accordance with Executive Order No. 1373 of 10 December 2007 on the Funding and Accounts etc. of Universities. Such responsibility comprises the preparation, implementation and maintenance of internal controls that are rel-evant in order to be able to prepare and present an annual report that gives a true and fair view and is free from material misstatement, irrespective of whether such misstatement is caused by fraud or er-rors as well as the choice and use of appropriate accounting policies and the making of accounting estimates that are deemed to be fair in the circumstances. In addition, it is the responsibility of the Manage-ment to ensure that the financial transactions included in the Annual Report are consistent with appropriations granted, legislation and other provisions, agreements made and general practice.

The auditors’ responsibility and basis of opinionOur responsibility is to express an opinion on the Annual Report based on our audit. We conducted our audit in accordance with Danish auditing standards and generally accepted public auditing standards in compliance with the agreement on internal audits at

the universities concluded between the Minister of Science and the Auditor General under S. 9 of the Danish Auditor General's Act. Those standards require that we fulfil ethical requirements and plan and perform the audit to obtain reasonable assurance that the Annual Report is free from material misstatement.

An audit includes actions performed to obtain audit evidence about the amounts and disclosures stated in the Annual Report. The actions chosen depend on the auditor's assessment, including the assessment of the risk of material misstatement in the Annual Report, irrespective of whether such misstatement is caused by fraud or errors. In mak-ing the risk assessment, the auditor will consider internal controls, relevant to the Management's preparation and fair presentation of the Annual Report in order to design audit procedures that are ap-propriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the University's internal control. The audit also comprises an evaluation of whether the accounting policies used by the Management are appropriate and whether the accounting estimates made by the Management are fair as well as an assessment of the overall presentation of the Annual Report. The audit also comprises an evaluation of whether the financial transac-tions included in the Annual Report are consistent with appropria-tions granted, legislation and other provisions, agreements made and general practice.

In our opinion, the audit evidence obtained is sufficient and provides a suitable basis for our opinion.Our audit did not give rise to qualifications.

OpinionIn our opinion, the Annual Report gives a true and fair view of Aarhus University's assets, liabilities and financial position as at 31 December 2008 and of the results of Aarhus University's operations and cash flows for the financial year 1 January – 31 December 2008. In addi-tion, we believe that the financial transactions included in the Annual

4.3. AUDITORS' REPORT



Report are consistent with appropriations granted, legislation and other provisions, agreements made and general practice.

Auditors' Report on the Performance Audit ConductedIn connection with the financial audit of Aarhus University's Annual Report for 2008, we reviewed selected areas to establish whether sound financial considerations have been taken into account in the management of Aarhus University.

Management's responsibilityAarhus University's Management is responsible for the establishment of guidelines and procedures to ensure that sound financial considera-tions are taken into account in the management of the institution.

The auditors’ responsibility and basis of opinionIn accordance with generally accepted public auditing standards, cf. Executive Order No. 1373 of 10 December 2007 on the Funding and Accounts etc. of Universities, we review selected administrative areas to establish whether Aarhus University has set up procedures which ensure financially appropriate administration. Our audit was conducted for the purpose of obtaining limited assurance that the administration in the selected areas is handled in a financially ap-propriate manner.

OpinionIn the course of our performance audit, nothing has come to our at-tention to cause us to believe that the administration in 2008, in the areas which we have examined, has not been handled in a financially appropriate manner.

Claus Lindholm Jacobsen State-Authorised Public Accountant

Henrik Kragh State-Authorised Public Accountant

Aarhus, 27 April 2009PricewaterhouseCoopers Statsautoriseret Revisionsaktieselskab



Basis of accountingThe Annual Report for Aarhus University has been presented in accordance with the Ministry of Finance's guidelines and Executive Order No. 1373 of 10 December 2007 on the Funding and Accounts etc. of Universities.

No changes have been made in accounting policies compared to previous years. On 1 January 2008, Aarhus University amalgamated with the National Environmental Research Institute (DMU) and the Danish Institute of Agricultural Sciences (DJF), which meant that eq-uity was adjusted as at 1 January 2008 and that comparative figures in the income statement and the balance sheet have been restated. A separate opening balance sheet as at 1 January 2008 has been prepared for the amalgamated Aarhus University.

The amalgamated Aarhus University has received a Treasury bond from the Ministry of Science, Technology and Innovation. This is a guarantee that will be disbursed if the University goes bankrupt. The Treasury bond expires at the end of 2011. According to instructions from the Ministry of Science, Technology and Innovation, the bond is recognised as a separate item under equity.

Appropriations subject to tied-up savings are recognised as income in the financial year in which the University obtains a final right thereto and are set aside in a separate item under equity until they may be used.

The Aarhus School of Business, Aarhus University is the host institu-tion for IT-Vest, a cooperation between the University of Southern Denmark, Aalborg University and Aarhus University. IT-Vest prepares separate financial statements. As at 31 December 2008, IT-Vest's savings for future activities amount to DKK 24.708 million, cf. note 5.6.15.

The Annual Report is presented in DKK '000.

Recognition and measurementThe financial statements are prepared in accordance with the histori-cal cost principle.

Income is recognised in the income statement as earned. Also, all costs incurred to achieve the earnings for the year, including depre-ciation, amortisation, impairment losses and provisions as well as reversals of amounts previously recognised in the income statement as a result of changed accounting estimates, are recognised in the income statement.

Assets are recognised in the balance sheet if it is probable that future economic benefits will flow to the University and the value of the assets can be measured reliably.

Liabilities are recognised in the balance sheet if it is probable that future economic benefits will flow out of the University, and the value of the liabilities can be measured reliably.

On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are remeasured as described for each item below.

Financial assets and liabilities are measured at amortised cost.

On recognition and measurement, account is taken of foreseeable risks and losses arising before the presentation of the Annual Report and proving or disproving matters existing on the balance sheet date.

Danish kroner is used as the currency of measurement. All other currencies are regarded as foreign currency.

Foreign currency translationForeign currency transactions are translated using the rate of ex-

5. FINANCIAL STATEMENTS5.1 ACCOUNTING POLICIES


change at the date of transaction. Gains and losses that arise due to differences between the rate on the date of transaction and the one in effect on the date of payment are recognised in the income statement as financial income or financial expenses.

Receivables, liabilities and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the rate of exchange at the balance sheet date. Differences between the rate on the balance sheet date and the rate on the date of the transaction are recognised in the income statement as financial income or financial expenses.

Income taxes and deferred tax The University is not subject to taxation.

IncomeThe University is covered by the Danish University Act and, thus, receives government subsidies. The government subsidies are dis-bursed monthly in twelve rates on the basis of the forecasted years of full-time study and are recognised in the period in which they are received. Every year in October the actual years of full-time study are calculated and the on-account payments are adjusted. Government subsidies for public-sector consultancy are recognised in the period in which they are received. External funding received and commit-ments made, including income from cooperation agreements, are recognised as income as and when costs are incurred. Course fees from open education are recognised as income in the period to which they relate. Other sales and cash sales are recognised as income at the time of invoicing.

Net financialsFinancial income and expenses include interest as well as realised and unrealised foreign exchange differences.

Intangible assetsFinished development projectsComprehensive research is an integral part of Aarhus University's activities. The general rule is that this research is not commercial, and the costs incidental to such research are recognised in the income statement as and when incurred.

Only costs for inventions where it is possible to demonstrate a relation between costs incurred and future earnings are capitalised.

Inventions, patents and licences are measured at cost less accumulated amortisation and impairment losses or a lower recoverable amount and are amortised over the term of the right, which is typically 20 years, or a shorter useful life.

Acquired concessions, patents, licences etc.IT software licences are measured at cost less accumulated amortisa-tion and impairment losses and are amortised over the term of the agreement, but not over more than three years.

Property, plant and equipmentLand is measured at cost. No depreciation is effected for land. Buildings, leasehold improvements, plant and machinery, transport equipment as well as other equipment and IT equipment are measured at cost less accumulated depreciation and impairment losses.

Donated buildings taken over from the Danish State are measured on initial recognition at replacement cost based on an assessment made by the Ministry of Science.

Property, plant and equipment in progress are measured at cost.

Cost includes the acquisition price and costs directly related to the acquisition until the time when the asset is ready to be put into operation.

Assets with an acquisition price of less than DKK 100,000 are recog-nised as cost in the year of acquisition.

Profits or losses from the sale or scrapping of non-current assets are recognised in the income statement under depreciation and impairment losses.

In accordance with S. 9(5) of Executive Order No. 1373 of 10 December 2007 on the Funding and Accounts etc. of Universities, no recognition has been made based on bundling.

Non-current assets received as donationsAarhus University continuously acquire non-current assets using funding from grant-financed activities. The projects are financed by the EU, enterprises, the Danish State, grants and private persons. The non-current assets are depreciated in accordance with the usual accounting policies.

The basis of amortisation is distributed straight-line over the expected useful lives of the assets, which are:Buildings 10-50 years

Leasehold improvements The lease term/max. 10 years

Plant and machinery 5-20 years

Transport equipment 5-30 years

Equipment and IT equipment 3 years

FINANCIAL STATEMENTS


As a counter item to the recognised non-current assets, an item is recognised under prepayments as "Accrued donations". This item is dissolved and recognised as income in the income statement in step with the depreciation of the relevant non-current assets. This will set off the effect on the profit of the depreciation of non-current assets received through grant-financed activities.

Collections and works of artOver the years, the University has received an extensive number of collections and works of art from different benefactors. These are not regarded as having any financially measurable value for Aarhus University, and the University is not planning to sell any of them. For this reason, the collections and works of art have not been recognised in the financial statements at a value.

InvestmentsOn 1 January 2007, the University received a Treasury bond from the Ministry of Science, Technology and Innovation of DKK 200 million. On 1 January 2008, the University received another Treasury bond of DKK 39.750 million. This is a guarantee that will be disbursed if the University goes bankrupt. The Treasury bond expires at the end of 2011. According to the terms of the Treasury bond, the bond is recognised as an increase in equity.

InventoriesInventories, i.e. stocks that can be sold and are included in active production, are measured at the lower of cost (using the FIFO prin-ciple) and net realisable value. The net realisable value of inventories is calculated as the expected selling price in normal operations less completion costs and costs incurred to effect sale. The net realisable value is determined with regard to marketability, obsolescence and the expected selling price development.

Livestock is valued in accordance with the so-called TSS circular from the Danish tax authorities on normal commercial values.

Cost goods are not recognised in the balance sheet, as the total value is not material and the stocks maintain almost the same level from year to year.

ReceivablesReceivables are recognised in the balance sheet at the lower of am-ortised cost and net realisable value, which here corresponds to the nominal value less write-downs for bad debts. Write-downs for bad debts are based on an individual assessment of each receivable.

Receivables from ongoing funding activitiesTo the extent that Aarhus University incurs costs for activities which are financed by grants under the agreements, but where the grants have not yet been paid, the grants to which Aarhus University has acquired a right are recognised as receivables from ongoing fund-ing activities.

PrepaymentsPrepayments recognised under assets include costs incurred relating to subsequent financial years.

SecuritiesSecurities recognised under current assets include listed bonds and shares measured at fair value on the balance sheet date. The fair value is measured on the basis of the most recently listed ask price.

ProvisionsProvisions are recognised when the University, due to an event that happened before or on the balance sheet date, has a legal or con-structive obligation, and it is probable that economic benefits will flow out of the University to meet such obligation.

Long-term debtFixed-interest loans, such as mortgage loans and loans with credit institutions, are recognised on the raising of the loan at the proceeds received net of transaction costs incurred. For subsequent periods, the loans are measured at amortised cost so that the difference between the proceeds and the nominal value is recognised in the income statement as interest expenses over the term of the loan.

Liabilities other than provisions are measured at amortised cost, es-sentially equalling nominal value.

Holiday pay payableThis item includes both holiday pay payable and the holiday pay obligation.

Accrued donations As mentioned under property, plant and equipment, the value of prop-erty, plant and equipment procured through grant-financed activities is recognised. The counter item to property, plant and equipment is an accrual of the value of the donation, which is recognised as income straight-line over the same period as the related property, plant and equipment are subject to depreciation, so that the net income state-ment is not affected by the depreciation recognised as costs.

Prepaid tied-up funds from ongoing funding activitiesPrepaid tied-up funds relates to ongoing funding activities which are funds received to cover costs not yet incurred. Aarhus University charges a fee for certain grants to cover capacity costs for funding activities. The fee is recognised as income as the grants are used.

Other deferred incomeOther deferred income recognised as liabilities cover other payments received relating to income in the subsequent financial years.


DKK '000

Note Income statement FS2008 FS2007

Ordinary operating income

Grants for own operation over the Danish Finance Act 3,068,852 2,836,942

External funds 1,299,759 1,186,544

Sale of goods and services 401,520 315,389

Total ordinary operating income 4,770,131 4,338,875

Ordinary operating costs

Consumption costs

Rent 550,922 397,516

Other consumption costs 84,984 52,620

Total consumption costs 635,906 450,136

Staff costs 2,983,508 2,722,735

Other ordinary operating costs 1,103,397 1,064,226

Depreciation, amortisation and impairment losses 108,092 113,151

Total ordinary operating income 4,830,903 4,350,248

Profit/loss from ordinary operating activities -60,772 -11,373

Net financials

Financial income 46,102 40,086

Financial costs 1,321 42,756

Net profit/loss for the year -15,991 -14,043

5.2 INCOME STATEMENT 1 JANUARY - 31 DECEMBER



DKK '000

Note Assets FS2008 1.1.2008

Non-current assets

Intangible assets

Completed development projects 448 1,005

Acquired concessions, patents, licences etc. 4,318 4,717

Intangible assets in progress 4,987 213

5.6.2 Total intangible assets 9,753 5,935

Property, plant and equipment

Land and buildings 179,965 184,014

Plant and machinery 372,324 357,910

Transport equipment 12,012 11,168

Equipment and IT equipment 34,514 32,443

Property, plant and equipment in progress 15,704 18,931

5.6.3 Total property, plant and equipment 614,519 604,466

Investments

Treasury bond 239,750 239,750

5.6.4 Total investments 239,750 239,750

Total non-current assets 864,022 850,151

Current assets

Inventories 8,195 7,214

Trade receivables 360,024 337,673

Receivables from ongoing funding activities 278,497 219,384

Other receivables 115,272 80,151

Prepayments 22,689 37,000

Securities 269,349 268,828

Cash 925,219 797,371

Total current assets 1,979,245 1,747,621

Total assets 2.843,267 2,597,772

5.3 BALANCE SHEET AS AT 31 DECEMBER 2008

DKK '000

Note Liabilities and equity

FS2008 1.1.2008

Equity, excl. Treasury bond 408,440 424,431

Treasury bond, expires at the end of 2011 239,750 239,750

Total equity 648,190 664,181

5.6.5 Total provisions 27,297 12,487

5.6.6 Total long-term debt 36,938 43,648

Short-term debt

Trade payables 233,862 247,321

Holiday pay payable 405,545 377,581

Other payables 372,628 219,331

5.6.7 Accrued donations 246,159 252,311

Prepaid tied-up funds from ongoing funding activities 567,977 510,692

5.6.8 Other deferred income 304,671 270,220

Total short-term debt 2,130,842 1,877,456

Total liabilities and equity 2,843,267 2,597,772


DKK '000 Retained earnings

Tied-up savings

Equity excl. of Treasury

bond

Treasury bond

Equity total

Equity according to amalgamation balance sheet as at 1 January 2008, excl. of Treasury bond

399,963 0 399,963 239,750 639,713

Adjustment of amalgamation balance sheet as at 1 January 2008, appropriation reserve

24,468 0 24,468 0 24,468

Adjusted equity as at 1 January 2008 424,431 0 424,431 239,750 664,181

Net profit/loss for the year -40,991 25,000 -15,991 0 -15,991

Total equity as at 31 December 2008 383,440 25,000 408,440 239,750 648,190

Tied-up savings will be released and transferred to retained earnings in 2011.

5.4 STATEMENT OF CHANGES IN EQUITY


DKK '000 FS2008 FS2007

Net profit/loss for the year -15,991 -14,043

Reversal of items with no cash effect:

Depreciation, amortisation and impairment losses on non-current assets 97,892 113,462

Donations recognised as income during the year -38,004 -38,512

Profit/loss from disposal of non-current assets 10,200 -141

Changes in provisions 14,810 3,173

Change in receivables etc. -103,256 143,172

Changes in short-term debt 259,539 1,258

Cash flow from operating activities 225,190 208,369

Purchase of intangible assets -5,887 -1,757

Purchase of property, plant and equipment -117,051 -178,454

Sale of non-current assets 975 19,531

Cash flow from investing activities -121,963 -160,680

Addition of donation obligation 31,852 30,510

Raising of long-term debt 0 39,500

Repayment of long-term debt -6,710 -1,163

Adjustment of cash, cf. completion statement 0 -17,751

Cash flow from financing activities 25,142 51,096

Change in cash 128,369 98,790

Total securities and cash as at 1 January 1,066,199 967,409

Total securities and cash as at 31 December 1,194,568 1,066,199

5.5 CASH FLOW STATEMENT


No. of persons AU total

Total inflow 7,315

Total outflow 7,798

Total net inflow -483

The inflow and outflow of staff has been measured on the basis of an SLS standard report which includes all staff, including academic staff, technical and administrative staff, part-time academic and technical and administrative staff, staff paid by the hour and by fees etc. The figures include a very high number of short, time-limited appointments. Comparative figures have not been disclosed, as there is no immediate access to comparable figures due to the amalgamation.

Note 5.6.1 Staff turnover 2008

5.6 NOTES TO THE FINANCIAL STATEMENTS

DKK '000 Completed development

projects

Acquired conces-sions, patents,

licences etc.

Intangible assets in progress

Total

Cost as at 1.1.2008 5,434 10,659 213 16,306

Addition 0 1,113 4,987 6,100

Disposal 0 -823 -213 -1,036

Cost as at 31.12.2008 5,434 10,949 4,987 21,370

Amortisation as at 1.1.2008 4,428 5,943 0 10,371

Amortisation for the year 558 1,511 0 2,069

Amortisation on assets sold 0 -823 0 -823

Amortisation as at 31.12.2008 4,986 6,631 0 11,617

Carrying amount 448 4,318 4,987 9,753

Amortisation period/year 20 3

Out of the total carrying amount of 9,753,446 was financed by donations, cf. note 5.6.7.

Note 5.6.2 Intangible assets

2008 ANNUAL REPORT21 FINANCIAL STATEMENTS

DKK '000 Land and

buildings

Plant -and machinery

Transport equipment

Equipment and IT equip-

ment

Property, plant and equipment

in progress

Total

Cost as at 1.1.2008 209,183 853,916 44,554 119,860 18,931 1,246,44

Addition 17,150 77,792 4,232 21,104 15,704 135,982

Disposal -10,148 -9,757 -1,320 -4,048 -18,931 -44,204

Cost as at 31.12.2008 216,185 921,951 47,466 136,916 15,704 1,338,222

Depreciation as at 1.1.2008 25,168 495,946 33,388 87,475 0 641,977

Depreciation for the year 11,052 62,561 3,219 18,991 0 95,823

Depreciation on assets sold 0 -8,880 -1,153 -4,064 0 -14,097

Depreciation as at 31.12.2008 36,220 549,627 35,454 102,402 0 723,703

Carrying amount 179,965 372,324 12,012 34,514 15,704 614,519

Depreciation period/year 10-50 5-20 5-30 3

Out of the total carrying amount of DKK 614,519 million, DKK 245,713 million was financed by donations, cf. note 5.6.7.

The University's ownership of the assigned property which originally belonged to HIH has not yet been officially assigned to Aarhus University. The book value of the property as at 31 December 2008 is DKK 69,689 million.

Public assessment of land and buildings as at 1 October 2008Building value 205,017

Land value 20,063

Total public assessment 225,080

Property for which no separate public assessment has been made. Carrying amount 5,152

Note 5.6.3 Property plant and equipment

The University received a Treasury bond of DKK 239,750 million from the Ministry of Science, Technology and Innovation. According to a letter from the Minis-try, the Treasury bond must be recorded under investments with a counter item under equity.

No interest accrues to the Treasury bond and it is not adjusted.

The Treasury bond will be disbursed if the University is declared bankrupt. Such disbursement will only be made to the extent that the University's other assets are not sufficient to pay the creditors.

The Minister of Science, Technology and Innovation is entitled to disburse the Treasury bond in connection with reorganisation during suspension of payments.

The Treasury bond expires at the end of 2011, after which time the entries will be reversed.

Note 5.6.4 Investments

Note 5.6.5 Provisions

DKK '000 FS2008 1.1.2008

Re-establishment commitments re leasehold improvements 5,516 6,145

Limited tenures and mutual departure etc. 16,731 5,742

Other provisions 5,050 600

Total provisions 27,297 12,487


Note 5.6.6 Long-term debt

DKK '000 FS2008 1.1.2008

Mortgage credit debt 36,938 38,058

Municipality of Aarhus 0 5,590

Total mortgage credit debt 36,938 43,648

Long-term debt is repaid over the following periods

Within one year 1,105

Between one and five years 5,047

After more than five years 30,786

Total long-term debt 36,938

Note 5.6.7 Accrued donationsDistribution of accrued donations on asset types:

DKK '000 Acquired conces-sions, patents,

licences etc.

Land and

buildings

Plant and machinery Transport equip-ment

Equipment and IT equipment

total

Accrued donations 1.1.2008 175 57,139 189,734 373 4,890 252,311

Donations received 365 0 25,228 188 6,071 31,852

Donations recognised as income -94 -1,528 -32,851 -132 -3,399 -38,004

Accrued donations 31.12.08 446 55,611 182,111 429 7,562 246,159

Accrued donations are recognised as income in the following periods:

Within one year 38,257

Between one and five years 123,370

After more than five years 84,532

Total accrued donations 31.12.08 246,159

Note 5.6.8 Other deferred income

DKK '000 FS2008 1.1.2008

Prepayment of grants 2009 from VTU 265,560 221,973

Other prepayments 39,111 48,247

Total other deferred income 304,671 270,220

2008 ANNUAL REPORT23 FINANCIAL STATEMENTS

Note 5.6.9 The University's costs for student political activities and other student activities

Note 5.6.10 Information on foundations, organisations and the like with which the University has special cooperation of a non-commercial nature

DKK '000 FS2008 FS2007

Student sports activities and other student activities

Student sports activities 942.7 969.1

Other student activities 166.2 23.0

Total student activities 1,108.9 992.1

Student political activities

The Student Council 2,245.5 2,312.5

Konservative Studenter 31.2 35.1

Frit Forum 74.3 87.7

Liberale Studenter 32.8 36.6

Total student political activities 2,383.8 2,471.9

Total 3,492.7 3,464.0

Aarhus University undertakes non-commercial cooperation with the Aarhus University Research Foundation and Incuba Science Park, Østjysk Innovation A/S, Dan-ish University Extension, Studenterhus Århus, Centre for Business Research, the Danish Society for Nature Conservation, the Danish Animal Welfare Society and the Danish Hunter's Association. The University cooperates with and subsidises the independent institution Sandbjerg Gods, Studenterhusfonden af 1991, the Orion Plan-etarium in Jels and the Danish Institutes in Athens and Damaskus.

The commitments are distributed as follows:

DKK '000 Lease commitments Rental commitments

Within one year 2,750 287,686

Between one and five years 5,334 376,286

After more than five years 0 824,956

Total lease and rental commitments 8,084 1,488,928

Allocation obligation upon expiry of contracts 107

Note 5.6.11 Contractual obligations

The University has operational lease commitments with periods of non-terminability of up to 51 months from the balance sheet date. In addition, Aarhus University has rental commitments with periods of non-terminability up to 1 January 2037.


Note 5.6.12 Contingent assets

The University has a full or partial right to certain inventions and patents. The value of these patents and inventions is uncertain, and there is not a sufficient basis for recognition.

For the years 1998 and 2000, the University filed a claim for refund of energy charges of DKK 5.270 million. The University and the Danish tax authorities are not in agreement as to whether the claim is statute-barred.

Note 5.6.13 Contingent liabilities

Some of the employees have civil servant status, which means that Aarhus University is obliged to provide redundancy payment for 36 months if they are dismissed. The maximum commitment is DKK 171,691 million. Pension liabilities for civil servants have been covered by ongoing payment of pension contri-butions to pension funds.

In respect of paid PhD fellows, the University guarantees the students' pay during the period of enrolment. This guarantee may be used if the pay costs are not cov-ered by the companies or institutions with which training agreements have been made.

Aarhus University is covered by the Danish State's self-insurance principle.

An interest-free government loan exempt from repayment with unpaid debt of DKK 46,474 million has been repaid at a price of 8 relating to the Institute of Business and Technology. The settlement with the Agency for Governmental Management took effect on 8 April 2005. If the property in Herning is sold within five years of the repayment of the government loan, the repayment price will be adjusted. The repayment price will be increased by 45 per cent if the prop-erty is sold within three years, 30 per cent if it is sold within four years, and 15 per cent if it is sold within five years.

If the University chooses to close down the centre "Institute of Business and Technology" or to discontinue the programmes relating to the centre, the Ministry of Education is entitled to an amount corresponding to the net transfer price when the University was amalgamated on 1 January 2006 of DKK 52,499 mil-lion, adjusted according to special guidelines, including the difference in the market value of the buildings and the carrying amount. Partial discontinuation of the programmes would mean that the Ministry of Education will have a proportionate claim. The Ministry of Education may approve changes made to the programmes covered by the amalgamation on 1 January 2006 without the University being fully or partly liable to pay the adjusted net transfer price to the Ministry of Education.

Note 5.6.14 Charges

Mortgage debt is secured by way of mortgage on the University's properties with a carrying amount as at 31 December 2008 of DKK 69,689 million.

5.6.15 IT-Vest

The Aarhus School of Business, Aarhus University is the host institution for IT-Vest, a cooperation between the University of Southern Denmark, Aalborg University and Aarhus University. As at 31 December 2008, IT-Vest's savings for future activities amount to 24,708. IT-Vest is not included in the Annual Report, but the financial and operating date for 2008 are:

DKK '000 FS2008 FS2007

Income 21,609 21,426

Net profit for the year 8,154 5,522

Equity 24,708 16,554

Cash 10,598 18,571

Assets 25,135 18,998


6. APPENDICES6.1. SCHEMATIC REPORTING ON PERFORMANCE TARGETS IN DEVELOPMENT CONTRACT

2006: Actual activities in 2006. Starting figures for the development contract.2008-2009-2010: Target figures for the relevant years

Indicator 1 – Number of research publicationsDC Achieved

2006 5,091

2008 5,100 5,385

2009 5,350

2010 5,575

Comments: The target for 2008 has been achieved.

Internationalisation of researchIndicator 2 – Attraction of researchers from abroad

DC Achieved

2006 149

2008 180 116

2009 200

2010 220

Comment: The target for 2008 has not been achieved. It seems that starting and target figures have originally been stated differ-ently. This has resulted in a high degree of uncertainty in relation to both starting and target figures. Aarhus University continues to focus on this area.

Attraction of external non-government fundsIndicator 3 – EU funds

DC Achieved

2006 89,138,000

2008 108,000,000 80,944,000

2009 120,000,000

2010 132,000,000

Comments: The target for 2008 has not been achieved. The indicator is described in detail in the section on target achievement.

= The target for 2008 has been achieved.

= The result shows a clear positive development in 2008

= The target for 2008 has not been achieved.

APPENDICES


Indicator 4 – Other Danish private and foreign fundsDC Achieved

2006 358,227,000

2008 362,000,000 383,915,000

2009 387,000,000

2010 412,000,000

Comments: The target for 2008 has been achieved. The indicator is described in detail in the section on target achievement.

PhD activitiesIndicator 5 – Number of graduate schoolsAarhus University works with few but effective and internationally visible graduate schools. The ongoing quality assurance and de-velopment will be strengthened further in the contract term.

Comments: Aarhus University focuses on continued quality assurance and development of the graduate schools. The indicator is described in detail in the section on performance reporting.

Indicator 6 – PhD admissionDC Achieved

2006 318

2008 445 466

2009 481

2010 523


Indicator 7 – Number of conferred/awarded degreesDC Achieved

2006 223

2008 285 257

2009 310

2010 390

Comments: Despite a considerable increase in the number of awarded degrees from 2006 to 2008, the target for 2008 has not been achieved. There is no clear explanation of this, but the increasing share of 4+4 students at the expense of 5+3 students may offer part of the explanation.

AdmissionIndicator 8 – Admission: Bachelor's degree

DC Achieved

2007 4,955

2008 5,232 4,869

2009 5,382

2010 5,467

Comments: The expected Bachelor's degree programme admission in 2008 was not achieved. This is a general trend in Denmark which saw a fall in admission of 12 per cent. The decrease at Aarhus University is comparatively smaller than the national average.

APPENDICES


Indicator 9 – Admission: Master's degreeDC Achieved

2007 3,440

2008 3,779 3,748

2009 4,182

2010 4,370

Comments: The expected growth in Master's degree students was almost achieved in 2008.

General comment to dropout and completion ratesAs the Medicine, Dentist and Theology programmes are only in the process of phasing in the 3+2 structure, and the health sciences programmes in particular based on experience from the undivided programmes expect low dropout rates and high completion rates, the final results are affected negatively. Health sciences will not be fully phased in during the term of this development contract and they will therefore not be fully inte-grated in the calculation basis for dropout and completion.

DropoutIndicator 10 – Dropout rate: Bachelor's degree

DC Achieved

2006 35.9%

2008 33.1% 34.8%

2009 31.9%

2010 30.4%

Comments: The dropout rate has changed considerably since 2006, but the target for 2008 has not been achieved, Target achieve-ment will continue to be in focus.

Indicator 11 – Dropout rate: Master's degreeDC Achieved

2006 11.2%

2008 9.5% 13.0%

2009 8.8%

2010 8.0%

Comments: The target for 2008 has not been achieved. The figure covers immense diversity between the main academic areas. In the coming period, focus will be on the relevant areas with a view to target achievement and dissemination of experience from the individual main academic areas.

Completion timeIndicator 12 – Share of completion within the prescribed study period: Bachelor's degree

DC Achieved

2006 39.0%

2008 38.0% 45.5%

2009 39.5%

2010 41.2%


Indicator 13 – Share of completion within the prescribed study period + one year: Bachelor's degreeDC Achieved

2006 55.0%

2008 55.8% 55.8%

2009 58.1%

2010 60.3%


APPENDICES


Indicator 14 – Share of completion within the prescribed study period: Master's degreeDC Achieved

2006 11.5%

2008 18.2% 16.4%

2009 23.1%

2010 28.1%

Comments: The completion rate has changed considerably since 2006, but the target for 2008 has not been achieved. Target achievement will continue to be in focus.

Indicator 15 – Share of completion within the prescribed study period + one year: Master's degreeDC Achieved

2006 40.9%

2008 49.3% 45.1%

2009 54.7%

2010 59.7%

Comments: The completion rate has changed considerably since 2006, but the target for 2008 has not been achieved. Target achievement will continue to be in focus.

Programmes adapted to society's needIndicator 16 – Unemployment figures for Master's degree graduates

DC Achieved

Starting figures (=2005) 7.00%

2008 (=2006) 4.70% 5.50%

2009 (=2007) 6.30%

2010 (=2008) 6.30%

Comments: The target for 2008 has been adjusted to the economic cycle. The employment figures for 2006 developed positively, although not quite as much as the national level.

EntrepreneurshipIndicator 17 – Number of entrepreneurship courses – stated in ECTS

DCNumber – ECTS

Achieved

2006 52 – 460

2008 71 – 639 668 ECTS

2009 81 – 729

2010 92 – 824


Internationalisation of the programmesIndicator 18 – Number of incoming students

DC Achieved

2006 824

2008 925 1,031

2009 1,000

2010 1,075

Comments: The target for 2008 has been achieved. At the beginning of 2009, Aarhus University applied to the EU for an ECTS label. It is expected to affect student mobility positively.

APPENDICES


Indicator 19 – Number of outgoing studentsDC Achieved

2006 712

2008 775 826

2009 850

2010 925

Comments: The target for 2008 has been achieved. At the beginning of 2009, Aarhus University applied to the EU for an ECTS label. It is expected to affect student mobility positively.

Indicator 20 – Number of English-language courses – stated in ECTSDC

Number – ECTSAchieved

2006 836 – 6,021

2008 892 – 6,491 8,216 ECTS

2009 956 – 7,017

2010 1,019 – 7,514


Indicator 21 – Number of full English-language programmes DC Achieved

2006 44

2008 52 65

2009 56

2010 63


Indicator 22 – Programme qualityAarhus University systematically evaluates teaching on all programmes. After each semester, Aarhus University will use these teach-ing evaluations to monitor the quality of teaching and programmes at the University.

Comments: Aarhus University focuses on continued quality assurance in this area. This work is described in detail in the section on performance reporting.

Quality assuranceIndicator 23 – Share of courses where evaluation is published online

DC Achieved

2006 50%

2008 70% 57 %

2009 85%

2010 100%

Comments: The target for 2008 has not been achieved. The calculation of the weighted average at university level is still uncertain. The University's target for 2010 is maintained.

Indicator 24 – Strategy for continuing education of lecturersNumber of course classes within pedagogical continuing education

DC Achieved

2006 16,281

2008 17,000 35,538

2009 17,900

2010 18,800

Comments: The target for 2008 has been achieved. The figure reflects an immense effort in this area, not least at DJF which in 2008 initiated the new programmes within agricultural science.

APPENDICES


Indicator 25 – Strategy for continuing education of lecturersNumber of full-time equivalents appropriated for university pedagogics and didactics

DC Achieved

2007 13

2008 15 19.35

2009 19

2010 21


Indicator 26 – Student guidance activitiesPercentage share of student counsellors with counsellor degree

DC Achieved

2007 60%

2008 75% 83%

2009 90%

2010 100%


Indicator 27 – Student guidance activitiesNumber of full-time equivalents appropriated for student and career guidance

DC Achieved

2007 33.22

2008 38.00 35.10

2009 41.00

2010 44.00

Comment: The target for 2008 has not been achieved. There has been no separate focus on the achievement of this target in 2008. The University's guidance strategy will be revised in 2009 to increase focus on this area.

Indicator 28 – Campus planThe expansion of activities in the coming years, not least due to the Folketing's decision to increase investments in research and education, means that there is a significant need to expand the built-up area. A realistic estimate is that the expansion of activities will require approximately 20,000 square metres of floor area a year.To meet this considerable challenge in terms of the Aarhus-based part of the University, Aarhus University, the Municipality of Aarhus and the Danish University and Property Agency (UBST) have together initiated the preparation of a Vision Plan 2008-2028. The challenge lies in agreeing on a plan which 1) provides the required physical framework to cover future needs, 2) maintains focus on the overall aim to expand the Aarhus part of Aarhus University as a campus university close to the University Park and 3) contin-ues to develop Aarhus as a leading and attractive city of education by strengthening the close situation of the city's education and research institutions in the northern and central parts of the city and, accordingly, supporting the idea of Campus Aarhus previously presented to the Ministry of Science.

Comments: In April 2008, Aarhus University adopted a vision plan for 2008-2028 for the physical expansion in Aarhus which has been prepared within the outlined framework. The target has, thus, been achieved.

Cooperation with university collegesIndicator 29 – Activities carried out in cooperation with the university collegesIn the contract term, Aarhus University intends to further expand its cooperation with the university colleges in the region – includ-ing on the engineering degree programmes and education research, among other things as a basis for integrated cooperation on the teacher programmes.

Comments: In 2008, Aarhus University concluded an overall strategic cooperation agreement with the VIA University College for 2008-2012. Furthermore, a close cooperation structure has been set up with the Aarhus School of Engineering on the engineering degree programmes under the Aarhus School of Engineering.

APPENDICES


Further and continuing educationIndicator 30 – Number of course participants

DC Achieved

2006 6,050

2008 6,200 6,635

2009 6,300

2010 6,400


Indicator 31 – Course feeDC Achieved

2006 65,849,000

2008 74,900,000 79,007,000

2009 76,600,000

2010 77,900,000


Participation in the public debateIndicator 32 – Written dissemination contributions in popular media

DC Achieved

2006 1,746

2008 2,100 1,680

2009 2,450

2010 2,750

Comments: The target for 2008 has not been achieved. There is some uncertainty as to the registration of this activity, both in terms of delimitation and the share of the activities actually registered. Work is still being undertaken to improve the registra-tion process.

Indicator 33 – Lectures open to the publicDC Achieved

2006 4,368

2008 4,700 5,204

2009 4,850

2010 5,050


Indicator 34 – Participation in councils and on boardsDC Achieved

2006 2,918

2008 3,000 3,875

2009 3,050

2010 3,100


Cooperation with the business communityIndicator 35 – Number of cooperation agreements

DC Achieved

2006 276

2008 300 455

2009 325

2010 350

APPENDICES


Comments: The target for 2008 has been achieved. It should be noted that both starting figures and targets include coop-eration agreementsnot concluded with the business community.

Indicator 36 – Reported inventionsDC Achieved

2006 59

2008 85 41

2009 100

2010 110

Comments: The number of reported inventions in 2008 was considerably lower than expected. This trend can be seen at several Danish universities. At Aarhus University, scouting for potential inventions was deliberately given a lower priority in 2008 and focus has instead been on completing the reporting process and seeing them through to patenting or other use. Finally, significant resources have been spent on the transition and integration process, among other things involving the transfer of a number of employees to the newly established central department.

Indicator 37 – Patents and licenses soldDC Achieved

2006 9

2008 13 12

2009 15

2010 17

Comments: In 2008, the activity in this area widely corresponded to the expected level.

Indicator 38 – Income from patents and licenses soldDC Achieved

2006 1,423,000

2008 3,800,000 2,397,678

2009 5,000,000

2010 6,000,000

Comments: Income in 2008 is lower than expected. This is an area that is difficult to budget for, as the primary income stems from few, important agreements. Owing to, among other things, the financial crunch in society, it is possible that this level will also be below budget for the coming years.However, this income is only a minor share of the financial cooperation with the business community which totalled DKK 376.5 million in 2008.

Research-based public-sector consultancyIndicator 39 – Awarded PhD degrees

DC Achieved

2006 34

2008 44 30

2009 53

2010 60

Comments: The target for 2008 has not been achieved. Status for this area is described in detail in the section on target achievement.

Indicator 40 – Income from public-sector consultancyDC Achieved

2006 454,006,645

2008 476,000,000 585,488,000

2009 502,000,000

2010 517.000.000

Comments: The target for 2008 has been achieved. The significant increase is, among other things, due to the introduction of the so-called SEA scheme for DJF.

APPENDICES

2008 ANNUAL REPORT NAME OF SECTION33 APPENDICES

10. General activities

11. Statutory tasks (DJF)

20. Commis-sioned serv-

ices (DJF)

90. Com-mercial

activities

91. Forensic medicine

95. Grant-financed research

97.Other grant-

financed activities

All sub-ac-counts

Income

Finance Act grants

Full-time programme 1,008,486 0 0 0 0 0 0 1,008,486

Part-time programme 29,862 0 0 0 0 0 0 29,862

Exchange students 8,959 0 0 0 0 0 0 8,959

Completion bonus 82,594 0 0 0 0 0 0 82,594

Basic research 1,516,566 1,600 0 0 0 47,005 0 1,565,171

Basic appropriation 0 0 0 0 0 0 0 0

Capital purpose 567 0 0 0 0 0 0 567

Public-sector consul-tancy

121,843 0 0 0 0 100,295 0 222,138

Other purposes 151,075 0 0 0 0 0 0 151,075

Total Finance Act grants 2,919,952 1,600 0 0 0 147,300 0 3,068,852

External funding 92 0 0 0 0 1,260,278 39,389 1,299,759

Sales and other operating income 247,209 6 30,499 62,251 36,784 23,051 1,720 401,520

Total income 3,167253 1,606 30,499 62,251 36,784 1,430,629 41,109 4,770,131

Costs

Wages and sala-ries

Academic staff salary 734,855 0 0 11,702 4,504 278,037 6,002 1,035,100

PhD salary 150,335 0 0 0 0 100,633 5,209 256,177

Part-time academic staff salary

160,996 0 0 250 0 7,203 3,413 171,862

Technical and adminis-trative staff

755,328 0 0 10,647 14,514 62,457 2,878 845,824

Part-time technical and administrative staff

41,195 0 0 945 1,554 7,836 974 52,504

Other wages and salaries 231,935 839 15,066 6,920 6 362,989 4,286 622,041

Total wages and salaries 2,074,644 839 15,066 30,464 20,578 819,155 22,762 2,983,508

Other operating costs

Rent/property tax 519,250 0 0 473 0 29,274 1,925 550,922

Electricity, water and heating

78,898 0 0 66 0 6,014 6 84,984

Other operating costs 68,366 891 6,494 16,189 12,954 368,596 14,621 488,111

OH costs 5,327 0 111 8,715 249 183,743 1,794 199,939

OH income -199,890 0 0 -48 0 -1 0 -199,939

Other total operating income 1,087,236 891 6,605 25,395 13,203 587,626 18,346 1,739,302

Depreciation and amortisation 59,774 0 5 90 3,002 45,122 99 108,092

Total costs 3,221,654 1,730 21,676 55,949 36,783 1,451,903 41,207 4,830,902

Profit before net financials -54,403 -124 8,823 6,302 1 -21,274 -98 -60,772

Interest income 40,526 0 0 0 0 5,576 0 46,102

Interest expenses -1,276 0 0 0 -1 -43 -1 -1,321

Profit/loss for the year before extraordi-nary items

-15,153 -124 8,823 6,302 0 -15,741 -99 -15,991

Extraordinary items 0 0 0 0 0 0 0 0

Net profit/loss for the year -15,153 -124 8,823 6,302 0 -15,741 -99 -15,991

6.2. OVERVIEW OF ACTIVITY TYPES 2008

2008 ANNUAL REPORT34 APPENDICES

6.3 COSTS IN 2008 BROKEN DOWN BY PURPOSE

no. Main key figures

Income, DKKm

1 Education 1,146.9

2 Research 1,565.2

3 External funds 1,454.0

4 Research-based public-sector consultancy 222.1

5 Basic grants 151.7

6 Other income 275.0

Costs in DKKm broken down by purpose

7 Research 2,060.9

8 Education 1,108.6

9 Dissemination and knowledge transfer 152.0

10 Public-sector consultancy 263.0

11 General management, administration and service 385.2

12 Buildings 863.1

Staff (full-time equivalent)

13 Academic staff 3,058.3

14 Part-time academic staff 413.7

15 Other full-time equivalents 3,095.9

Balance sheet

16 Equity, DKKm 648.2

17 Balance sheet, DKKm 2,843.3

18 Buildings, total sq. m. 604,455

Activity and production informationStudents

19 Number of admissions as at 1/10 8,617

20 Number of students as at 1/10 28,982

21 Number of STÅ 17,865

Graduates

22 Number of Bachelor's degree graduates 2,764

23 Number of Master's degree graduates 3,087

Open and part-time programmes

24 Number of paying students 6,635

25 Number of active FTEs 1,507

26 Graduates on full programmes (Master's degree, diploma degree) 717

Internationalisation

27 Outgoing exchange students 826

28 Incoming exchange students 1,031

29 Exchange students on full programmes 2,365

6.4. MAIN KEY FIGURES

DKKm

Research 2,061.0

Education 1,108.5

Dissemination and knowledge transfer 152.0

Public-sector consultancy 263.0

Other purposes 1,248.3

All purposes 4,832.8

2008 ANNUAL REPORT NAME OF SECTION35 APPENDICES

PhD programmes

30 PhD students enrolled 1,430

31 PhD intake 466

32 Assigned dissertations, year 257

Research and dissemination results

33 Research publications 8,288

34 Dissemination publications 1,680

35 Teaching publications 93

36 Reported patents 23

37 Reported inventions 41

38 Number of projects with the business community 2,466

39 Number of external projects 4,781

40 Income from cooperation with business community, DKKm 376.5

AbbreviationsHUM = The Faculty of HumanitiesSUN = The Faculty of Health SciencesSAM = The Faculty of Social SciencesTEO = The Faculty of TheologyNAT = The Faculty of ScienceDJF = The Faculty of Agricultural SciencesDMU = The National Environmental Research Institute ASB = Aarhus School of Business DPU = The Danish School of EducationHIH = The Institute of Business and Technology in Herning

2008 Annual Report www.au.dk/da/arsr2008.htm

CopyrightAarhus University Editors: The Communication Office, the Vice-Chancellor's Staff and the Finance Department Layout: 1508 A/S Karen Fleng, the Communication Office

ProductionPrinting: CS Grafisk A/SNumber printed: 500 Paper: Cover: 240 g Munken Pure Inside: 120 g Munken Pure

The following publications describe Aarhus University's activities: Annual Report, "AU i tal", "Tal og tabeller" and Facts and Figures.

All publications are available at www.au.dk – See the menu item "Publications".

For printed publications, please contact the Communication Office: Tel.: +45 8942 2340 Fax: +45 8942 2333 E-mail: [email protected] Web: www.w.dk/info

ISBN 978-87-91234-67-5ISSN 1398-333x

A A R H U S U N I V E R S I T E TNordre Ringgade 18000 Århus CTelefon 8942 1111Telefax 8942 2333E-mail [email protected] www.au.dk/da/arsr2008.htmISBN 978-87-91234-54-5ISSN 1398-333X

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