The University of Siena closes the financial statements with a profit of 15 million
The 2021 financial statements of the University of Siena closed with a positive result of almost 15 million euros. The document was approved on Friday 29 April by the Board of Directors and presented to the press by the rector Francesco Frati, the general manager Emanuele Fidora and the budget delegate Professor Pasquale Ruggiero. The resources left in cash will be used for investments and to improve the building stock of the university.
The rector’s satisfaction
“This is a very consistent result, the highest since 2016, – said the rector Frati – which, net of sums set aside to cover commitments undertaken in previous years and which will generate their own financial effects in the year, disposition of the University governing bodies important resources for future investments and for specific initiatives contingent on the present historical moment ».
Part of the profit will be allocated to the building stock. For 800 thousand euros, the renovation of the building located in via Fieravecchia will be completed, in the spaces owned by the Conservatori Riuniti Foundation, which currently house the humanistic area library, always very popular with students.
The other interventions
Still on the construction side, a part of the profits is intended to cover the co-financing necessary for participation in the specific ministerial announcement. According to the draft program, which is in any case susceptible to further improvements, the university will be able to schedule works for a total of 15 million euros, partly co-financed by the same ministry. This is an ambitious program of interventions necessary to restructure and modernize a large part of the huge real estate assets.
Among the primary objectives of the aforementioned works are the adaptation to safety standards and the increase of spaces destined for teaching and studio sales for students and students.
Another part of the profit will be used to cover the “free reserve” item to ensure flexibility in the preparation of future budgets and the “2023 investment budget” item.