№ 3/2019

Fìnansi Ukr. 2019 (3): 92–102https://doi.org/10.33763/finukr2019.03.092

FINANCE OF EDUCATION AND SCIENCE

PARASIY-VERGUNENKO Iryna ¹

¹Kyiv National University of Trade and Economics
OrcID ID : https://orcid.org/0000-0001-6506-6965

Organizational mechanism of the budgeting implementation in the universities

The article reveals the economic essence of budgeting as the most important component of the accounting management and highlights the peculiarities of its implementation in HEIs. The purpose of this article is to develop an organizational budgeting mechanism for universities through specifying its stages, defining the functions and principles of budgeting. The main functions of budgeting are outlined: planning, coordination, allocation of responsibility areas, stimulation, and control. The advantages of budgeting as an effective tool for increasing the efficient use of resources in HEIs and reducing expenditures by decentralizing management are substantiated. The problematic aspects of budgeting implementation in universities are considered, and the negative factors of hindering this process are identified. The author specifies the organizational stages of budgeting implementing in HEIs, which include: the identification of responsibility centers; development of a system of analytical accounts; formation of the accounting policy for the organization by the responsibility centers; development of the forms of planned budgets and analytical reports; substantiation of the analytical indicators system for the responsibility centers; preparation of planned and actual budgets for the responsibility centers and institutions of education in general; conducting factor analysis of budget execution; justification for adjusting calendar plans and budgets. In order to facilitate the budgeting organization in universities, the content and structure of the budget regulations are outlined. The procedure of creation of the budget committee is proposed, the responsibilities of its managers and members are defined. The author identifies the main problem aspects of budgeting organization in HEIs, which require further research and practical solution and include the development of the assignment principles of separate structural subdivisions to the corresponding responsibility centers and the transfer pricing methods in universities.

Keywords:budgeting, higher education institution (HEI), accounting, control, analysis, budget regulations

JEL: M41

Parasiy-Vergunenko I. . Organizational mechanism of the budgeting implementation in the universities / I. . Parasiy-Vergunenko // Фінанси України. - 2019. - № 3. - C. 92-102.

Article original in Ukrainian (pp. 92 - 102)

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