Modern trends in the analysis of state authorities’ key performance indicators lead to an understanding of the need to enhance the effectiveness of the methods used to predict such essential parameters of the national economic system as budget indicators. Considering the ways of using budget indicators for the formation of state policy in the economic and social spheres is necessary to base management decisions solely from the position of their balanced and logical expediency. In light of this methodology for forecasting budget indicators in the short and medium-term, they acquire key importance. The approaches proposed by the authors of the article are based on tried and tested methods of extrapolation, analyzed values, which, when applied in practice, give promisingly reliable results. The article discusses three key approaches that can serve as a basis for transformation, depending on particular research needs. When considering these methods, a comparative experimental study was also carried out, making it possible to assess the quality of forecasting budget indicators when using any of them.
The COVID-19 has put higher education institutions in a new situation and identified bottlenecks in the financial structure of institutions and education systems in general. However, for Ukrainian universities, this situation can be seen as an opportunity to achieve financial autonomy. This study is devoted to the consideration of a possible tool for the financial autonomy of Ukrainian classical universities, most of which are state-funded. The paper considers the methodology of a possible tool for the accumulation of external financing – the endowment fund. The case analysis and analytical consideration of world practice are applied. As a result, a model for financing the university in its transition to the innovation and entrepreneurship model is proposed as the chain “endowment fund – development of start-ups”. This example can become the basis of the road map for other national HEIs, as well as the practice of wider use in the field of higher education. However, despite most of the national classical universities have declared a course to an innovative development, which further raised the necessity of external funding, top management and general economic situation require more attention. As this transition to a new model of the university is taking place along with the financial stabilization and under economic and social upheavals, the formation of a new culture of online communication is necessary. Thus, the proposed model is the practical guideline of possible decisions but mostly the start-point for further discussion and research. AcknowledgmentThis paper is done in the framework of the grant project “Financial stabilization of classical universities in the context of the global consequences of the COVID-19 pandemic” funded by the National Research Foundation of Ukraine “Science for Human Security and Society” (2020-2021).
In 2020, due to the COVID-19 pandemic, university funding in Ukraine suffered significant losses due to unprecedented quarantine measures. The challenge for universities is to diversify funding sources, develop effective approaches to minimize existing and prevent future threats to ensure their financial stabilization (sustainability) in the post-pandemic period. The paper aims to consider financial sustainability of a university (the case of Taras Shevchenko National University of Kyiv) due to COVID-19 using the objective calculative approach on the statistical sample of data for 2011–2020. The tasks for achieving the aim are seen in determining, using regression methods, the number of lost receipts from general and special funds in the short and medium term, which will maintain a constant value of receipts at constant assets. The main idea of the paper is that financial sustainability is considered as a condition, and stabilization is considered as a process towards stability/sustainability. The modeling approach reveals a fragile list of factors for the future preventing measures of the University to sustain. It is estimated that the University’s top management should consider financial strategy in dollar terms only. The challenge is that funding in hryvnia seems to be quite increasing and linear, but indeed, funding of the University is non-linear and has a quite intensive downward trend. Thus, for the financial sustainability strategy, this fact should be crucial.The results indicate the need for a significant increase in university funding to mitigate the impact of macroeconomic instability due to various crises, including the COVID-19 pandemic. AcknowledgmentThe study is carried out under the grant funded from the National Research Fund of Ukraine within the competition Science for Human Security and Society, topic 2020.01/0265.
Over the past few decades, the issue of sustainable development has attracted great attention from researchers and policymakers alike. The Sustainable Development Goals are articulated in the 2030 Agenda for Sustainable Development and combine the economic, social and environmental pillars around addressing global challenges that have proven to be closely interlinked, from extreme poverty and armed conflict to gender inequality and climate change. The implementation of sustainable development policies depends to a large extent on national budget policies to support their implementation. Since budget documents are political, legal and economic instruments for policy implementation, the lack of connection between plans/strategies and the budget means the lack of implementation of these plans. The budget process can be a powerful tool to promote and support integrated approaches to the achievement of the SDGs. The UN also argues that it is crucial to integrate Sustainable Development Goals into the budgetary process. However, there is no unified approach or definitive instruction on how to implement Sustainable Development Goals in the budget process. Through a broad literature review, this study attempts to provide a holistic view and a fuller understanding of how the SDGs can be integrated into the budgeting process and how exactly this can be done using examples from several countries. A systematic literature review was conducted through a comprehensive review of scientific articles and reports by international organisations over the last five years. The results of the study show that there is scope for introducing the SDGs at all stages of the budgeting process. However, budget tagging of the SDGs or inclusion of elements of the SDGs in budget proposals is predominantly used. It is also found that the SDGs are predominantly integrated into sustainable development strategies and national development plans whilst SDG budgeting is still underdeveloped. Only a few dozen countries in the world use it in any way, while only a handful, notably Finland and Norway, can boast of best practices. This study will serve as a basis for future research and will have valuable implications for researchers and policymakers.
Introduction. Today the issue of openness and transparency of the budget process is widely recognized as being an important factor in developing the democratic society with a high level of public confidence and strong anti-corruption effect. However, in Ukraine despite the constant change in the direction of increasing the transparency of the public sector, the practical implementation of those principles can be quite a challenge. At the moment, the insufficient disclosure of information to ordinary citizens or information being inaccurate, unclear or irrelevant results in a low level of public confidence. The above mentioned drives the search for effective ways to solve existing problems to ensure the transparency of the budget process in Ukraine. Purpose. The paper aims at disclosure of the peculiarities of the budget process taking into account the principles of transparency and openness, tools for analyzing the state of transparency of the budget process in Ukraine at the national and local levels and justification of the role of the public in the budget process. Results. The results show the shortcomings of the budget process implementation in Ukraine under the lack of transparency and openness at all stages, which manifests in the partial access to information, the lack of public hearings and discussions, and general formalization of public activities. The issue of openness and transparence covers not only the full access to the key data on the use of public funds, which must be provided to citizens, but also on the level of certain simplification of budget data for clear understanding for the unsophisticated citizen. The findings also provide insights into the assessment of the transparency level of the local authorities, the public involvement in the process of drafting, reviewing, approving, implementing and reporting on budget policy, which corresponds to a satisfactory level of transparency due to the partial disclosure of information on the budget process. Originality. The outbreak of positive developments in ensuring a transparent and open budget process at every stage was explained due to the fact that despite the transformation of Ukrainian legislation and approximation to the standards of international institutions the mechanism of public participation in the implementation of budget policy is unclear, the effective budget oversight is not guaranteed, overall resulting in some informational secrecy of budgets, mostly the local ones. Conclusion. Transparency of public and local finance management is one of the most important factors in building a democratic society with a high level of public confidence in government, which helps to increase government accountability by providing objective, relevant, accessible information. The level of budget transparency depends not only on the timely disclosure of key information, but also on the involvement of society in budget management and the ability of citizens to really influence the budget process. Creating a comprehensive integration system functioning in the common information space for budget process management can be considered a key element in Ukraine�s transition to an open and transparent budget system. Key words: budget process, openness, transparency, society, local budgets, E-data, publicity, targeted use of budget funds.
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