Scope of the study. In European universities, the issue of choosing the optimal funding model within the framework of the growing trend of public funding of higher education is becoming increasingly relevant. At the same time, the importance of an effective, rational, and value-based approaches to the selection of sources of funding is becoming more apparent. Schemes based on assessing the effectiveness of the use of financial resources received from the state are widely used. Purpose of the study. The creation of approaches for the development of a financial management system for European universities aimed at increasing their financial stability and efficiency in a highly competitive educational environment. Methods. The methods used for this study are a review of scientific literature and statistical data in this area, synthesis and analysis of the information received, as well as comparison, formalization, and specification. Results. The study highlights the main types of fundingused by European universities. The authors analyze current trends in public funding and systematize the features of its sources. A set of measures is presented for the modern management of the financial resources of European universities. The authors propose trends of development for the financial management system of European universities. Conclusions. Management of financial resources of European universities involves the implementation of measures to increase the efficiency of their attraction and use, primarily for strategic investments in the development of universities. The main task is the formation of a funding model, which would, on the one hand, contribute to the development of educational technologies and, on the other hand, ensure that universities meet the goals of efficiency and effectiveness of the use of financial resources.
Volume 12 | 03-Special Issue
Pages: 1263-1269
DOI: 10.5373/JARDCS/V12SP3/20201375