The Council of Representatives of the Student Union of the University of Lapland (LYY) unanimously decided on a new medium-term financial plan and the adjustment measures defined in it. The financial plan includes key actions to balance the student union’s finances for the years 2025–2028.
The financial plan outlines that personnel costs will be reduced by the equivalent of one full-time employee (1 FTE). As LYY’s community specialist Esa-Pekka Tuppi has been appointed as LYY’s Secretary General, the student union will not need to lay off staff. The responsibilities of the community specialist will be distributed among the remaining staff and the board.
The financial plan specifies a one-time increase in the membership fee by two euros, after which no further increases will be made during the validity of the plan. The Council of Representatives also decided, in a separate agenda item, to raise the membership fee for the 2025-2026 academic year in line with the financial plan. The membership fee will henceforth be €61 per academic year.
The plan also outlines the sale of LYY’s sauna property and states that no cuts will be made to the support for student associations, event funding, or the Wellness Pass, as these activities are seen as particularly important for the student body.
Furthermore, the plan indicates that LYY aims to relocate to the premises of the University of Lapland once the university can offer a space that is both operationally and financially viable. The decision is motivated by the desire to operate and be accessible where the students are, that is, on the university campus.
“The new financial plan is an important step towards the sustainable balance of the student union’s finances. It’s great that the representative groups found a common solution, even though it required compromise from everyone. Cuts to personnel are by no means desirable, especially considering the cuts made earlier this year,” says LYY’s chair of the board, Roope Rantala.
“I would like to thank LYY’s board, the finance working group, and the office for their thorough preparation work, as well as the other representative groups for their constructive and cooperative approach during these difficult decisions. We are now jointly committed to strict financial management in line with the financial plan, and together we must adhere to the guidelines agreed upon during negotiations,” says Julia Palola, 1st Vice-Chair of LYY’s Council of Representatives.
Next, the board will begin preparing the actual budget for next year, where the financial plan’s entries will be implemented.