MODEL OF FINANCIAL SUPPORT FOR THE IMPLEMENTATION OF TARGET INDICATORS OF EFFICIENCY OF THE UNIVERSITY

Abstract

This article falls under case category. The main aim of the article is the creation of methods and algorithms of financial analysis and managing educational and research processes at universities. In their previous works authors created original financial - mathematical model for budgeting university structural units based on curriculum and financial plans of teaching programs. It is based on per -capita financing of educational institutions working on state order. Besides that authors have developed and even implemented algorithms for forming salary funds for teaching staff of the Departments. There is a significant economic effect of implementing this model, absence of legal limitations for its implementation and good development perspectives. This article is devoted to the construction of financial and mathematical model of financing educational and research structural units aiming at achieving basic target performance indicators of the university efficacy. Developed method can be used at any university based on the analysis of curriculum, research work plans, university and its units’ strategic development programs as well as reports on research work. Implementation of this method leads to improved efficacy of research and teaching process organization, formation of financial mechanism for implementing long-term research academic programs, de-centralization of financial and economic administration and creation of prerequisites for acknowledging chairs and research units as financial responsibility centers. This model is a natural development of normative per capita method of financing university educational activities.