Subject area of financial management at higher educational institution

Abstract

Universities as higher education system institutions have their peculiarities in managing financial support, including absence of profit target, variety of activities, absence of tangible aspect in an educational product, regulation of using federal budget resources, budget of other levels, etc.. At the same time just like at different type organizations the main principles of university financial management are: integration into overall management system, achieving high degree of dynamics and alternative approaches in managerial solutions, orientation towards strategic development aims. Organization of financial management at modern university implies structuring of topic area components; development of financial system based on financial structure; defining methods and instruments of managing financial sources, currents and funds as the main mechanisms of financial management. The article deals with these questions and is addressed to top and mid-level university managers active in this sphere.