A Generated Model Of Business Performance In A Higher Education Institution Subdivision

Abstract

The effective management of university resources becomes more important when solving the task of developing the management system of higher education. The development of higher education requires the development of better ways to manage financial flows in this area. Strengthening the competitive position of universities is ensured through a combination of centralized and decentralized management, the organizational and financial models for the activities of departments, the optimal ratio of public and private financing of education. As the financial model of each structural division of the university is an integral part of the financial system of the university as a whole, it seems appropriate to develop the process of budgeting academic subdivisions within the organizational and financial model of the university. The study presents a financial model of the university division, designed to decentralize the budgeting process in the university to form an independent plan of financial and economic activities of the department. The transfer of authority and responsibility for expenses to subdivisions ensures financial independence and increases the accuracy level of planning. This allows making effective management decisions that provide the activities of the main academic units. The proposed approach is planned to be fully integrated into the overall planning and budgeting process at Vladivostok State University of Economics and Service. The budgeting system helps the authority not only to make an operational assessment of the results of its activities, to predict indicators for the future but also contributes to making decisions aimed at reducing costs and increasing profits.