International Students Union of Norway ISU Annual Financial & Accounting Report 2009-2010 October 10 th, 2010 Prepared by George Vlazakis ISU National President 2009-2010 Prepared for - Kunnskapsdepartementet (Ministry of Education and Research) - Members ISU local branches Operating Income Until 2006, ISU has been receiving funds from the Ministry of Education (KD), while the organisation has also been assisted financially by one of its main partners, Norsk Studentunion (NSU), which upon an agreement between the two organisations, dated August 2004- was ensuring the allocation of as many funds required for ISU to reach the ceiling of NOK 200.000, which was necessary for the organisation s effective operation. In 2007 (period 2007-2008), ISU applied for NOK 250.000 from KD, and managed to receive NOK 220.000, hence the organisation did not requested any financial support from NSU. For 2008 (period 2008-2009), an application to KD for NOK 270.000 has been successfully submitted, which was aiming towards ensuring that ISU would start the first steps towards becoming financially independent and thus, fulfil a long term goal (as stated within its Political Platforms): such aim has been to raise the working hours of both National President and Organizational/National Secretary from 25% to 33% (salary level 14) [please refer to personnel costs, further below]. The same year, an accountant firm has been contracted in order to be responsible & take charge of the organisation s financial matters in a professional way, as well as ensure legally (& practically) the payment of the necessary salaries, steps which aimed towards increased financial independence (from NSU). In 2009 (period 2009-2010), the organisation applied to & received from KD NOK 300.000, while currently/for 2010 (period 2010-2011), ISU managed to increase its annual budget deriving from KD by 33%, to the total amount of NOK 396.000. International Students Union of Norway Lakkegata 3, 0187 Oslo, Tel 0047-98225998, email: nationalsecretary@isu-norway.no Org.nr: 892 438 072 Website: www.isu-norway.no 1
Additional Income (project funding) In November 2006, Studentenes Landsforbund (StL) supported ISU s project for expansion to høyskoler around Norway with an amount of NOK 50.000. This amount has been earmarked to secure the organisation s expansion project in 2007 and 2008, and resulted in ISU adding two new branches, ISU BI and ISU Telemark, in 2007 to its family. In November 2007, ISU applied for funding from FRIFOND of LNU (through NSU) and got an amount of NOK 37.850, which have been earmarked for website update, translation, academic review journal and a training/leaders meeting for ISU Local Branch Presidents. In 2009 (period 2009-2010), ISU applied for the first time for funding from FRIFOND of LNU, directly from LNU, and received the amount of approx. NOK 133.000, while the current year (period 2010-2011), ISU managed to receive an equal amount of funds from FRIFOND of LNU (NOK 130.500), which are being directed to ISU local branches according to their applications on project financing (within the Guidelines of LNU and ISU). Personnel costs Salaries up to 2007 were paid by NSU, while ISU did not have an Organizational Secretary for a full year. In 2009-2010 (current financial year), ISU National Board decided the increase of the salary of the National President (from 33%, level 14 to) 38%, level 14, while for the first time in the organisation s history, a one-off yearly compensation of NOK 8.000 has been ensured for the services provided by each of the National Board members (National Vice-Presidents), while the organisation is being supported by an employed National Secretary (salary of 33%, level 14). Office costs Until May 2010, ISU has been provided office space and facilities by NSU (the latter covering the full cost of ISU s national office, while maintaining shared offices with ISU). Please note that as early as 2008, ISU National Board tried to ensure the budgeting of such cost, different organisational needs (hiring an accountant and an auditing firm) made such efforts unsuccessful. As a consequence of the merger between NSU and Studentenes Landsforbund (StL) in May 2010, such office was no longer available for ISU, in view also of the relocation of NSU to StL s former premises from July 1st, 2010, and the subsequent lack of available room to provide ISU International Students Union of Norway Lakkegata 3, 0187 Oslo, Tel 0047-98225998, email: nationalsecretary@isu-norway.no Org.nr: 892 438 072 Website: www.isu-norway.no 2
with an office facility. With the help of NSO, ISU found a new office space near the NSO office, but lack the necessary funding to stay in this office. Despite every effort has been made to ensure a viable result, either by addressing ISU s main partners (NSO and ANSA) for their financial and/or in kind support, or by reorganising the activities and costs of ISU s annual budget/funding, as received in July 2010 from the Ministry, it has not been possible to reach a solution which would allow ISU to continue its existence and effective representation of international students, and be able to continue its work towards internationalisation of Norwegian education. In this respect -and in view of the fact that ISU s current reorganised budget (with the aim to cover basic necessities) is still dependent on additional financial support- which is currently estimated to be 100.000 NOK, ISU National President has addressed the issue to a meeting with the Ministry of Education/State Secretary Mr. Kyrre Lekve on 20 th September 2010, who asked ISU to send him directly an application for funding (instead of sending such application to one of the lower in hierarch bureaucrats from the Ministry) and promising his attention to the issue. At the same time, ISU National Board signed an agreement with NSO for the latter to pay ISU office costs until 31 st December 2010 (at the latest). Organisational costs for NA/LM ISU National Assemblies (NA) and Leaders Meetings (LM) are hosted by various branches around the country, with the aim to ensure inclusion and equal opportunities on democratic and participatory processes. It is however a fact that relevant events/processes would be far less costly to arrange in Oslo, due to reduced travel costs. In view of the above considerations, as well as the sincere interest of ISU local branches to be benefited and enriched by the knowledge and experience acquired through the organisation of such important political processes, ISU National Board congratulates and encourages its members to continue expressing their interest in the future as they have done so eagerly in the past. Such solution and arrangement increases the cost of the National Assemblies/Leaders meetings, part of which has been covered in the past through the introduction of participation fees of NOK 1000 per delegate. This year s National Board is proud and happy not to have burdened the National Assembly participants with any such fee, despite the uncertainty caused by the eventual need for a revision of ISU s budget for 2010-2011 in view of the issue with the organisation s office premises. Other travel expenses International Students Union of Norway Lakkegata 3, 0187 Oslo, Tel 0047-98225998, email: nationalsecretary@isu-norway.no Org.nr: 892 438 072 Website: www.isu-norway.no 3
In 2010-2011 application to KD for ISU s budget, this post has been intended to cover the National Administration s travels to local branches, seminars, conferences, etc. as part of the National President s (and National Board s) work for ISU, while no provision has been made for covering expenses of the National President/National Board to/from the national office from/to their accommodation/city. Please find attached all necessary and supporting documentation, for the National Assembly s delegates approval. Kind regards, George Vlazakis ISU National President 2009-2010 E-mail: nationalpresident@isu-norway.no International Students Union of Norway Lakkegata 3, 0187 Oslo, Tel 0047-98225998, email: nationalsecretary@isu-norway.no Org.nr: 892 438 072 Website: www.isu-norway.no 4
ALLOCATED BUDGET FOR 2010-2011 by Ministry of Education (KD) Budget for 2010-2011 Budget account Description Amount (NOK) Units Sum (NOK) Salary National President: 38% position, salary level 14 with 1 month overlap after elections in 17 th October 2010-2 National Vice-Presidents: 8.000 NOK (once per year, each) - National Secretary 33%, salary level 14. 7 612,00 8.000,00 5 900,00 25monthly salaries 2 yearly one-off contributions (of 8000 NOK each) 221 488,32 Salary compensation Carry over of 3 persons salaries from last year (errata) 13 920,00 Vacation money 2010 Derived from salary expenses in 2009 N/A 17 700,00 Travel & costs for NA 2010 Trondheim 1 000,00 48 participants 48 000,00 International cooperation expenses Costs for conferences outside Norway in cooperation with N/A 5 000,00 NSO and ANSA Telephone 12 months 500,00 Office expenses Office supply, meeting food, stamps etc. 12 months 4 685,68 Travel costs National board work connected travels 12 months 13 000,00 Auditor Fees etc. N/A 10 000,00 Web Expenses to update website N/A 3 650,00 Accountant Fees etc 12 months 24 000,00 Bank expenses 12 months 1 800,00 Translation Expenses for translation in meetings etc. 12 months 2 000,00 Leadership meetings Travel to meeting venue, food, and accommodation 13 000,00 2 meetings 26 000,00 Employee insurance Vital forsikring 0,66 year units 790,00 Yearly price 790,00 Miscellaneous Meetings, membership fees etc. N/A 4 466,00 GRAND TOTAL 397 000,00 International Students Union of Norway Lakkegata 3, 0187 Oslo, Tel 0047-98225998, email: nationalsecretary@isu-norway.no Org.nr: 892 438 072 Website: www.isu-norway.no 5
ISU Result 2009 2008 Income: 101 Support from KD -300 000,00-270 000,00 102 Support from Fridond -133 764,00 0,00 103 Support from StL -21 440,00 0,00 104 Support other 0,00-5 893,00 105 Participation fee NA1 0,00-23 000,00 106 Participation fee NA2 0,00-1 630,00 107 Support NSU -47 964,30 0,00 SUM INCOME -503 168,30-300 523,00 EXPENSES 2 ISU EXPANSION 201 New local branches 0,00 0,00 SUM EXPANSION 0,00 0,00 3 PERSONNEL COSTS 301 Salary/compensation NP/OS 166 322,98 157 038,17 302 Employer tax 23 293,25 21 933,98 SUM PERSONNEL COSTS 189 616,23 178 972,15 4 OFFICE EXPENSES 402 Web 1 081,25 1 681,25 405 office rent 0,00 5 000,00 406 other costs 1 433,26 5 975,25 407 Auditor 11 750,00 6 250,00 408 Accountant 27 594,12 7 415,50 409 Loss from pending invoices 0,00 0,00 410 Telephone 2 193,00 1 469,04 411 Mail 143,00 279,50 412 Computer communication 0,00 6 079,70 413 other costs 3 315,74 579,24 414 Insurance 719,00 0,00 415 SUM OFFICE EXPENSES 48 229,37 34 729,48 5,0 ORGANISATION EXPENSES 501 National Assembly I 48 023,50 0,00 International Students Union of Norway Lakkegata 3, 0187 Oslo, Tel 0047-98225998, email: nationalsecretary@isu-norway.no Org.nr: 892 438 072 Website: www.isu-norway.no 6
502 National Assembly II 38 473,61 300,00 503 Leadership meeting 26 231,09 0,00 504 Frifond to local branches 127 100,00 0,00 SUM ORGANISATION 505 EXPENSES 239 828,20 300,00 6 INFORMATION EXPENSES 602 Advertisments etc 0,00 0,00 SUM INFORMATION 605 EXPENSES 0,00 0,00 7 OTHER TRAVEL EXPENSES 701 NP/OS travels 17 892,74 67 767,54 702 Fee 7 550,00 200,00 703 Other costs 0,00 27 447,61 704 SUM TRAVEL EXPENSES 25 442,74 95 415,15 SUM EXPENSES 503 116,54 309 416,78 8 FINANCE INCOME EXPENSES 803 Interest -247,54-3 244,34 804 Fees 2 155,36 1 053,00 SUM EXPENSES 1 907,82-2 191,34 YEAR RESULT 1 856,06 6 702,44 DISPOSITIONS Turn over other own capital 1 856,06 6 702,44 Sum Dispositions 1 856,06 6 702,44 International Students Union of Norway Lakkegata 3, 0187 Oslo, Tel 0047-98225998, email: nationalsecretary@isu-norway.no Org.nr: 892 438 072 Website: www.isu-norway.no 7
ISU Balance 2 009 2 008 Assets Bank 142 907 256 666 Pending invoices 20 711 11 300 Sum in circulation 163 618 267 966 Sum assets 163 618 267 966 Debt and capital Capital 101 099 107 801 Year result (1 856) (6 702) Sum capital 99 243 101 099 StL expansion 31 575 46 768 Debt 1 183 1 308 Pending costs 5 000 5 000 Public fees 8 917 49 159 Pending vacation money expenses 17 700 16 667 Unpaid debt to NSU 2004-2008 0 47 964 Sum debt and capital 64 375 166 867 Sum debt and capital 163 618 267 966 International Students Union of Norway Lakkegata 3, 0187 Oslo, Tel 0047-98225998, email: nationalsecretary@isu-norway.no Org.nr: 892 438 072 Website: www.isu-norway.no 8