Economic and legal aspect extra-budgetary financing of higher education institutions of Ukraine

Abstract

Effective implementation of higher education policy is impossible without adequate financial support for higher education institutions. Given the deficit of budget funds, the higher education institutions faced significant difficul-ties in the formation of financial resources for the implementation of their functions, which forced them to look for sources of additional funds, especially extra-budgetary sources of funding. The purpose of the article is to study the economic and legal aspect extra-budgetary financing of higher education institutions, in particular to substantiate the feasibility of diversifying financial resources of higher education institutions in in conditions of reducing budget funding; coverage of certain areas of extra-budgetary activities of higher education institutions and attraction of charitable assistance (fundraising). It is substantiated that the diversification of sources of funding for higher edu-cation institutions is associated with chronic budget underfunding, increased competition between higher education institutions, the need to increase the salaries of research and teaching staff, etc. It was found that extra-budgetary sources of funding for higher education institutions are divided into funds from extra-budgetary activities and earmarked funds. Certain areas of extra-budgetary activities of the higher education institutions are identified: the field of educational services (paid education, preparation for admission to the higher education institutions, and in-dependent external evaluation, retraining, advanced training, training of foreign students, providing individual paid consultations, paid short courses and seminars, etc.), research and production activities (contractual research work, consulting activity; innovation incubators, scientific and technical parks, etc.), commercial activity (publishing of textbooks, rent of areas and scientific equipment, etc.), services for students and staff (paid services for nutrition, treatment and rehabilitation), financial asset management. It is noted that the main source of extra-budgetary funds of higher education institutions of state and communal forms of ownership are funds from the provision of paid educational services. The content of fundraising as a new direction of attracting attraction of financial support by the educational institution is considered. The expediency of creating an endowment (permanent free economic fund) for the purpose of financing scholarships, research grants and other programs has been proved.