The formation of a classification of methods for assessing the financial sustainability of higher education institutions

Abstract

Aim. The work aimed to form a classification of methods for assessing the financial sustainability of higher education institutions applicable to state (municipal) institutions.Tasks. The work was performed to demonstrate the historical development of methods for assessing the financial sustainability of the organizations under consideration; present the main classifications of these methods, and identify their disadvantages; to characterize the methods for assessing financial sustainability, which can be used by an educational institution of higher education.Methods. For the formation of classifications of methods for assessing financial sustainability, scientific and practical materials of Russian and international researchers and other interested parties (representatives of execution authority, consulting organizations) were used. General scientific research methods are applied, as well as correlation analysis for the purpose of comparative analysis of methods for assessing the financial sustainability of higher education organizations.Results. The technique for assessing financial sustainability has been developed for almost a century. The classifications of this technique formed by various researchers are universal and do not take into account the industry factor, as well as the organizational and legal form, which makes it difficult to use them in relation to certain organizations. As a result, the development of this methodology for the educational organization of higher education is required. The article proposes the author’s classification of methods for assessing the financial sustainability of such an organization, applicable to state (municipal) institutions. Based on the data of 48 higher education institutions with the organizational and legal form of a state institution, a correlation analysis was performed in order to determine the relationship between the methods used to assess financial sustainability, as well as the correctness of the classification created by the author.Conclusions. Methods for assessing the financial sustainability of higher education institutions can be divided according to the number of variables used; the nature of the data required for this assessment; incorporation into larger evaluation techniques. The criteria listed are taken into account in the author’s three-level classification of methods for assessing the financial stability of an educational institution of higher education. The correlation analysis revealed a weak relationship between the evaluation methods included in different groups.