Abstract
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.
Highlights
The world is currently adapting to the new epoch of lockdowns, quarantines, and other consequences of COVID-19 and its modifications
A simple linear regresof general and special funds with the results of sion y= a + bx is chosen as the formula for the forecasting the likelihood of pandemics and their relationship of the time-dependent variable
The results show that when planning for three ing is expected at the level of USD 6.6 million, years, the trend will stabilize with an annual total where USD 3.8 million belong to the general fund increase in funding by USD 16.8 million
Summary
The world is currently adapting to the new epoch of lockdowns, quarantines, and other consequences of COVID-19 and its modifications. There are quite enhancing prospects that the impact of viruses could increase in the future, preventing a return to the pre-COVID period. There are great steps towards routing the current threat and making little efforts to prevent them in the future. There is no doubt that scientists around the world have devoted their studies to the impact of COVID-19. The education field has been injured all over the world, billions of students and employees have switched to the on-line mode of the educational process. At the Taras Shevchenko National University of Ukraine (TSNUK), as the case, there were no second-year students in the classrooms yet. The discourse on the health of educational institutions is claiming loudly
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