Key financial aspects of university management in the context of improving its competitiveness

The article focuses on issues related to the need to consider the financial aspects of university management in the context of improving its competitiveness. The author considers the peculiarities of the economic activity of the university while focusing on the concept of “university finances” in the context of enhancing the autonomy of universities, where not only academic freedom is manifested, but also the economic independence of the university is enhanced. There are five main sources of funding for universities that exist in the world: state funding, funds from student tuition fees and other student payments related to their education, charity donations, private contributions to universities for goods and services, and capital investments for private universities. A comparative analysis of state funding of universities in Kazakhstan, Russia, and foreign countries is given. The author demonstrates the advantages and disadvantages of financing models of expenditures for education, that are common in the world practice, and explores the most important approaches to financing universities, depending on the form of ownership. The article suggests the structure of the financial mechanism of university management and considers its key elements, such as financial methods, financial leverage, financial instruments, legislature and regulatory support etc. The balance of interests of the university and external stakeholders and the results of the university’s financial relations with the external environment are important preconditions for creating financial mechanism for university management.

управление вузом, финансирование, конкурентоспособность, модели, анализ, расходы, обучение, баланс интересов, university management, funding, competitiveness, models, analysis, expenditure, tuition, balance of interests, ЖОО-ны басқару, қаржыландыру, бәсекеге қабілеттілік, үлгілер, талдау, шығындар, білім алу, мүдделер теңгерімі

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