Financial planning in universities under conditions of instability

Abstract

The article is based on the hypothesis that financial planning is a tool for achieving strategic directions of development and provides for both proactive and mandatory planning. The purpose of the article is to substantiate the key indicators, synthesized the main classification features and types of financial planning, and identify the factors that influence the process of developing and implementing a financial plan under conditions of instability. Based on the results of the study, the key indicators of financial planning, such as personnel, contingent and material and technical base, are substantiated, limitations to the achievement of the university strategy are identified, which is due to the level of financial stability, affects the ability of the university to generate income and make expenditures. A classification of financial planning of higher education institutions is proposed, the signs and types of financial planning are defined and substantiated; the factors influencing the process of developing and implementing a financial plan under conditions of instability are systematized, the basic ones being the change in the contingent, instability of budgetary and private financing, quality and structure of human resources, material, and technical base. In the process of financial planning, the factors are detailed and have a direct and indirect impact on the planned indicators.