HYY will land on its feet

‘Everything that has happened in recent years has just been a whole lot worse than people imagined even in the worst-case scenarios.’Ylioppilaslehti, 17 March 2025 (unofficial translation)

Do I want to continue as the secretary general in this situation? Absolutely! Thank you for your trust.

As the secretary general, I would like to remind everyone that, despite everything that has happened, the Student Union will fall on its feet. It is in no way extraordinary to fund a student union’s operation with income from membership fees, and it is not at all unusual for real estate businesses to have financial difficulties right now. Media interest in HYY’s affairs and the discussion on membership fees are simply examples of the realisation of democracy.

In terms of operating finances, HYY’s financial situation is currently stable, and our operations run as normal. Operating finances here refers to the side of our organisation that carries out the Student Union’s duties, that is, HYY. The other side of our organisation, Ylva, manages HYY’s assets. Before 2022, HYY’s operating finances received 70% of its funding from profit distribution from Ylva and 30% from income from membership fees. However, the membership fees exist for the very purpose of the Student Union being able to fund the realisation of its duties.  In fact, HYY’s operations are currently funded primarily by income from membership fees, just as is the case in other student unions. Our internal rent is funded with an internal loan within our group.

The increase to the membership fee approved by the Representative Council was steep, but after the increase, our membership fee is at the same level as in the University of the Arts Student Union. Decisions on the Student Union’s operation and the size of the membership fee are among the core duties of autonomous student unions. The debate and criticism concerning the increase to the membership fee is thus a part of democratic decision-making. I would be worried if no-one were interested in the matter.

Our asset manager Ylva is doing generally fine, but two major construction projects have left us in a similar situation as many others involved in real estate in Helsinki. The project costs went up through the roof for reasons that no-one could have predicted: the coronavirus, war and the inflation of construction costs. Many have gone bankrupt, we have not.

Responsible financial management involves calmly assessing the best course of action after the project costs increased. The next steps will be prepared unhurriedly, and unfinished matters will not be speculated in the media or social media. Not revealing business secrets is part of professional business operations. The Representative Council is currently discussing unfinished matters and processes behind closed doors. Ylva, led by the Representative Council, the Board as well as the secretary general, is currently doing everything it can to come up with the best solution for the Student Union. When we find it, we will tell everyone about it.

We compiled a set of answers to appropriate (and inappropriate) questions we have received on HYY’s website. For anyone interested, we also added a large package of HYY’s public financial documents from 2016 onwards to our website. We hope this will clarify the situation for our members.

HYY’s activities may change, but the Student Union remains. Students discuss the level of membership fees, the Representative Council decides on it, Ylva manages our assets with Excels ablaze, media writes on the topic, and our Board and employees execute our statutory duties. My responsibility is to ensure that decisions made on my watch are prepared in a way that, ten years from now, we are able to say: ‘we would not have done anything differently with the information available to us at the time’.

Paula Karhunen

Secretary general

paula.karhunen@hyy.fi

040 081 6426