Finances

The key figures in the 2023 financial statements were:

• group’s total income 21.2 m€
• group’s total expenses 20.7 m€
• group’s result 325 m€
• group’s balance sheet total 160.3 m€
• solvency ratio 39.2%
• interest-bearing debts 95.7 m€

Group structure

Operations directly related to the Student Union form a significant part of the Student Union’s operations, while part of the operations have been organised into separate companies. The group includes 13 wholly owned real estate companies, AYY-Palvelu Ltd, and partly owned real estate companies.

Summary of assets

The Student Union’s assets consist of real estates and other investments.

Residential real estate assets are the most significant part of the Student Union’s assets. The residential properties are located in the Espoo and Helsinki areas. The total area of residential properties is approximately 88,000 square metres. The Student Union has defined its goals for residential property ownership in AYY’s real estate policy and the real estate strategy.

Investment assets include the Student Union’s assets excluding the residential properties. The investment assets mainly include fixed income and equity investments as well as investment properties. The management of the Student Union’s investment assets aims to secure the financial conditions for the Student Union’s organisational activities.

Good asset management also secures the long-term operating conditions of the Student Union.

Finance Board

The Finance Board is an advisory body of experts. The Finance Board consists of ten members, including the Chair. The Representative Council elects the Finance Board on the proposal of the Board for a two-year term and the Chair on the proposal of the Board’s proposal for a one-year term.

The role of the Finance Board is to support the Board in matters related to the management of the Student Union’s assets. Members of the Finance Board have also formed a smaller investment division, which prepares investment decisions for the Finance Board, as well as a real estate division, which prepares property-related decisions for the Finance Board. The Board presents all financially significant decisions to the Representative Council for decision. AYY's CFO operates under the supervision and guidance of the Finance Board.

Members of the Finance Board:

M.Sc. (Econ.) Lippo Suominen (Chair), term ends on 31 December 2024

D.Sc. (Econ.) Eeva Ahdekivi, term ends on 31 December 2025

M.Sc. (Econ.) Jani Koskinen, term ends on 31 December 2024

M.Sc. (Tech.) Risto Mustaniemi, term ends on 31 December 2025

M.Sc. (Tech.) Petri Valkama, term ends on 31 December 2024

M.Sc. (Tech.) and M.Sc. (Econ.) Leea Tolvas, term ends on December 31, 2025

Henri Ailinpieti (AYY member, residents' representative), term ends on 31 December 2024

Sampo Sainio (AYY member), term ends on 31 December 2024

Sofia Tynkkynen (AYY member, residents' representative), term ends on 31 December 2025

Antti Henriksson (AYY member), term ends on 31 December 2025