AYY as an Organisation

Finances

AYY’s finances include daily financial transactions as well as real estate and investment activities.
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The key figures in the 2019 financial statements were:

  • group’s total income 18.9 m€
  • group’s total expenses 16.7 m€
  • group’s result 1.9 m€
  • group’s balance sheet total 167 m€
  • solvency ratio 33.7%
  • interest-bearing debts 109 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.

 

Members of the Finance Board:

  • M.Sc. (Tech.) Kari Vatanen (member of AYY, Chair), term of office ends on 31 Dec 2020
  • M.Sc. (Econ.) Lippo Suominen, term of office ends on 31 Dec 2020
  • M.Sc. (Tech.) Jussi Valtonen, term of office ends on 31 Dec 2019
  • M.Sc. (Tech.) Petri Valkama, term of office ends on 31 Dec 2020
  • M.Sc. (Econ.) Hanna Hiidenpalo, term of office ends on 31 Dec 2019
  • M.Sc. (Tech.) Mika Savolainen, term of office ends on 31 Dec 2019
  • Paulus Heikkilä (member of AYY), term of office ends on 31 Dec 2019
  • Joona Orpana (member of AYY), term of office ends on 31 Dec 2020
  • Ilkka Särkiö (member of AYY, represents AYY’s tenants), term of office ends on 31 Dec 2019
  • Anni Kolehmainen (member of AYY, represents AYY’s tenants), term of office ends on 31 Dec 2020
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