WILLEMSTAD - The University of Curaçao, UoC, achieved a positive result of just over 900,000 guilders in 2022. In 2021, the university suffered a loss of 1.1 million guilders. Despite this positive development, caution is still advised, as stated in the university's annual report.
Despite efforts by the management to monitor the budget, the financial health of the university remains vulnerable, as reported by Francis de Lanoy, the UoC's rector magnificus.
The total revenue in 2022 amounted to nearly 24 million guilders. The report shows that government subsidies amounted to fourteen million guilders, and this will also be the case in 2023.
The positive result is partly attributed to the decrease in operational costs. Additionally, income from tuition fees increased despite a lower number of enrollments. Furthermore, revenues from projects and the write-off of old debtors contributed to the positive result.
To generate more income, the board, under the auspices of the Supervisory Board, is working on a new business model. Moreover, the university aims to focus on professionalizing organizations and companies in the private and public sectors, offer tailor-made long-life learning options, conduct more research for third parties, and participate in internationally funded research projects.