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FINANCIAL MONITORING: METHOD OF EFFECTIVE MANAGEMENT OF THE
FINANCING SYSTEM OF HIGHER EDUCATION INSTITUTIONS
PhD Karlibaeva Gulshat
Tashkent State University of Economics
ORCID: 0009-0002-8724-9337
Abstract.
In this article analyzes the conceivable outcomes of financial monitoring as a
strategy of viable administration of the financing framework of higher education institutions,
ways to assist move forward the financing of the higher education system by implies of present
day disobedient.
Key words:
higher education institutions, financial management, indicators, budget and
extra-budgetary system, monitoring, social and financial performance.
MOLIYAVIY MONITORING: OLIY TA’LIM MUASSASALARINI MOLIYAJLASH
TIZIMINI SAMARALI BOSHQARISH USULI
PhD Karlibaeva Gulshat
Toshkent davlat iqtisodiyot universiteti
Annotatsiya.
Ushbu maqolada oliy ta'lim muassasalarini moliyalashtirish tizimini
barqaror boshqarish strategiyasi sifatida moliyaviy monitoringning mumkin bo'lgan natijalari
tahlili, bugungi kun talablarini inobatga olgan holda oliy ta'lim muassasalarini moliyalashtirish
jarayonini rivojlantirishga yordam berish yo'llari ko’rib chiqildi.
Kalit so’zlar:
oliy ta’lim muassasalari, moliya boshqaruvi, ko‘rsatkichlar, byudjet va
byudjetdan tashqari tizim, monitoring, ijtimoiy va moliyaviy ko‘rsatkichlar.
ФИНАНСОВЫЙ МОНИТОРИНГ: МЕТОД ЭФФЕКТИВНОГО УПРАВЛЕНИЯ
СИСТЕМОЙ ФИНАНСИРОВАНИЯ ВУЗОВ
PhD Карлибаева Гулшат
Ташкентский государственный экономический университет
Аннотация.
В статье анализируются возможные результаты финансового
мониторинга как стратегии эффективного управления системой финансирования
высших учебных заведений, методы поощрения развития финансирования системы
высшего образования посредством активного использования современных методов.
Ключевые слова:
высшие учебные заведения, финансовый менеджмент,
показатели, бюджетная и внебюджетная система, мониторинг, социальная и
финансовая результативность.
UO‘K: 37с (с52)
V SON - MAY, 2024
119-126
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120
Introduction.
The cutting-edge checking framework for assessing the adequacy of budget
administration, which guarantees the viable utilize of budget and extra-budgetary reserves in
higher instruction teach, is considered, the conditions for the compelling, focused on and
focused on utilize of budget and extra-budgetary stores are shaped. issues of conditions were
considered. The issue of making a strong establishment for feasible advancement and
expanding competitiveness of higher instruction teach was considered.
Literature review.
The financial issues of the instruction framework were the subject of intrigued to the
classics of financial matters Marshall (1920), who considered instruction as a source of social
capital, and the information, aptitudes and capacities obtained through preparing as portion of
the national riches. These thoughts were created within the hypothesis of human capital, which
was created by Schultz (1979), Teixeira, Queirós (2016), Solow (1956).
From the point of see of analyzing the methodological establishments for the
advancement of the money related component of the higher instruction framework, the works
of Johnstone (2004)are of specific intrigued, who proposed the hypothesis of “cost sharing” for
instruction, Sh. Butcher and Leslie (2011), who substantiated the concept of scholastic
capitalism, as well as the creator of the hypothesis of the “entrepreneurial university” Clark
(1998).
Methods.
Within the conditions of the usage of changes, conventional financial methods, levers, and
financial management tools may not be compelling.
Subsequently, in arrange to encourage move forward the quality, it is fitting to present a
financial management and implement result-oriented budgeting. By utilizing present day
financial instruments, the taking after ought to be presented into the budgetary administration
prepare of higher education institutions:
Financial management process of higher education institutions
37
37
Prepared by the author.
Arrangement of
functional elements
Financial planning and
determining
Organization and
coordination of
financial relations
Financial risk
management
mechanism
Financial motivation
Financial and
management budget
accounting
Monitoring
Result-oriented internal
financial control and
diagnostics
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The intemperate number of higher education institutions makes competition.
Components of sparing budget costs, speeding up adjustment to employers' prerequisites are
being considered, and get to of higher education institutions to the worldwide showcase is
being guaranteed:
digitalization of budgetary assets, improvement of financial planning, budget
advancement and management indicators;
- execution of components for planning financial resources, planning budgets and
actualizing financial forecasting;
- improvement of modern components and programs for financial support of teachers
within the Republic of Uzbekistan, as well as conveyance and advancement of financial products
for the usage of back;
expanding extra-budgetary financial resources: presentation of instruments for
expanding extra-budgetary financial resources to higher education institutions in the Republic
of Uzbekistan;
organizing the utilize of state costs on the premise of financial efficiency, moving forward
effectiveness and encouraging the objectives of higher education institutions by providing
financial resources;
- presenting a high-level financial management system for viable administration of
monetary assets, for illustration, expanding the impact and control of financial management on
institutions and budgets;
advancement of instruments for observing financial and economic activity, surveying
and diagnosing financial responsibility;
improvement of administration advances and administration hardware to move forward
financial accounting, upgrade and present administration bases;
- it is conceivable to center inside budgetary control not as it were on the result, but too
on financial management and item advancement.
Within the reports of the heads of state on the budget approach, it was famous the ought
to screen the quality of the state financial management system and introduce its comprehensive
evaluation in arrange to execute successful financial planning and the right conveyance of state
expenses.
Execution of monitoring in higher education institutions to decide and assess the comes
about of their exercises, to supply information on the flow of financial markers based on the
criteria of the viability of the utilize of budget and extra-budgetary funds for the state financial
control, which is an information-analytical framework makes a difference in making financial
decisions.
The most objective of observing the improvement of higher education institutions and the
quality of their financial management is to utilize inner money related saves to advance
reinforce the budgetary potential of higher education institutions, to decide the conceivable
outcomes of understanding the current and future errands of socio-economic improvement
based on sparing state costs.
Monitoring can be isolated into inside and outside groups. Subjects of inner observing
incorporate: minister, vice-rectors and heads of relevant basic divisions of the higher education
institutions, they screen the quality of financial management and specifically take part within
the assessment prepare. They mainly focus on:
collecting data for monitoring;
processing of collected data to evaluate indicators;
preparation of reports on the results of monitoring the quality of financial management.
Outside subjects are subjects inquisitive about all data given.
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The components of the framework of observing the economic and financial activity of
higher education institutions incorporate the taking after: pointers of students' instructive
movement; checking prepare carried out through sorts and shapes of control; assessment
framework of students' instructive handle; strategies of recording control information at the
level of different observing subjects, etc.
Picture 1. Components of the observing framework of higher education institution
38
The protest of observing is critical for surveying the quality of monetary asset
administration and making long-term budgetary choices. Financial plans and financial
exercises of higher education institutions, budget gauges, estimates, socio-economic
improvement programs and usage of different monetary ventures are of extraordinary
significance.
Monitoring will clarify the taking after:
- markers are compared with the budgetary arrange based on endorsed criteria;
- planning of an archive for deciding monetary awkward nature and making budgetary
administration choices;
- controlling the action of higher education institutions, basic units to extend the
proficiency of utilizing money related, fabric and labor assets;
- increment the volume of budget financing and progress the utilize of extra-budgetary
money related assets, set up an association with the comes about of the useful action of the
higher education institution;
- assessment and examination of the comes about of the action of auxiliary units and
higher education institutions in common;
- to make an instrument of financial and fabric motivating forces, to control budgetary
lopsided characteristics through such a framework and to advance increment the productivity
of financing administration.
Application of budgetary levers, devices and budgetary strategies, assurance of the limits
of deviations from the monetary and financial standards of the movement of the higher
education institutions, consideration to the parameters of the most quality changes, through
the components of money related administration of the higher instruction educate it is suitable
to actualize budget change measures.
Budget reserves, demands, monetary assets gotten from the state and organizations play
a key part in making critical openings for higher education institutions. For the effective usage
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Prepared by the author.
Monitoring subjects
of higher education
institutions
Regulatory and legal
documents regulating the
monitoring system in the
higher education institution
Monitoring objectives
of higher education
institutions
Methods of
monitoring in a
higher education
institution
Organizational structure of
the monitoring system in a
higher education institution
Internal and external
users of monitoring
data in higher
education institutions
Elements of the monitoring system in a higher education institution
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of these works, it is vital to make a viable budgetary administration framework, to utilize assets
appropriately, and to speed up announcing pointers.
Benchmark markers for successful budgetary administration of higher higher education
institutions are of incredible significance for checking. The common pointers of observing are
as takes after:
giving middle of the road and yearly data markers on the adequacy of the utilize of
budget stores by higher education institutions within the current period;
last comes about are clearly arranged bases for assessing the adequacy of monetary
administration of higher education institutions.
Picture 2. Algorithm of higher education institution budget reform measures
39
It ought to moreover be taken into consideration that when choosing benchmark pointers,
need ought to be given to the money related markers of the ultimate comes about of the action
of higher education institutions in connection to the markers of the ultimate socially
noteworthy financial and social comes about.
It is suggested that the checking framework for monetary evaluation of higher education
institutions be based on the taking after criteria.
39
Prepared by the author.
Process
analyses
Justify the goal
Assignment of duties
Collect information
on the graduate
Planning of indicators of the
university
Data collection and reliability
control
Data processing and
determination of results
Social and financial
results
Improving the quality
of financial
management in higher
education
Improving the
quality of
educational services
Follow-up
Evaluation
Prophecy
Accounting
and control
Analysis of causes of deviation
Corrective measures to achieve social and financial indicators
End of
monitoring
process
Outcome
evaluation
criteria
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Picture 3. Chart of performance indicators of higher education institutions
40
The framework of socio-economic pointers of execution assessment can be isolated into
2 major ranges, and monetary and financial execution incorporates a framework of pointers in
3 directions.
Criterion
Indicators
Picture 4. Financial performance of higher education institutions
indicators on this
41
As can be seen from the picture, budgetary execution is an imperative component of
money related administration, based on the budgetary result, an objective appraisal of the
budgetary circumstance within the movement of the HEI, monetary effectiveness,
entrepreneurial action of the protest of examination, deciding the variables and reasons for the
accomplished circumstance, the state of administration within the HEI, financial choices There
will be an opportunity to get, improve the financial circumstance and recognize saves.
Within the picture underneath, we are going see at the pointers of the higher education
institutions in terms of social execution.
40
Prepared by the author.
41
Prepared by the author.
Financial indicators of the quality of logical action: the volume of logical
ventures completed in understanding with the concluded contracts, the
number of logical state gifts, logical and specialized programs, universal
distributions, diaries, monographs, reading material suggested by the
Higher Attestation Commission
Markers of accessibility of assets: regulatory and administration staff,
teachers and instructors, the number of representatives, the whole region
of instructive and research facility buildings, social framework objects,
library stores, etc.
Markers of budgetary effectiveness: markers of money related soundness
of social framework objects put into utilize by HEIs, relations with state
administration bodies, commercial structures, state educate, state
specialists and neighborhood self-government bodies. , the number of
occasions held in conjunction with commercial substances
Financ
ial and
economi
c
pe
rforman
ce
The system of socio-economic indicators for evaluating the effectiveness
of higher education institutions
System of indicators of financial and economic performance
System of socio-economic performance indicators
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Picture 5. Indicators of social performance of higher education institutions
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At the same time, since budget uses are pointed at understanding not as it were
commercial errands, but social assignments, the comes about of utilizing budget reserves ought
to be decided basically by social affect.
As the figure appears, measuring social results shows up to be a troublesome challenge
compared to financial assessment. Assessment of social pointers could be a more troublesome
methodological task, which is related to determining the ultimate social affect for the total
society or a certain portion. The need of such indicators requires extra work on the creation of
modern techniques and criteria, on the premise of which it'll be conceivable to survey the social
proficiency of the utilize of state stores.
Results.
The taking after fundamental methods are taken under consideration when organizing
observing of money related assets administration in higher education institutions:
- evaluation markers that take into consideration all vital components of medium and
long-term markers;
- socio-economic optimization of higher education institutions;
- appraisal of the most markers of long-standing time advancement of higher education
institutions;
42
Prepared by the author.
Criterion
Indicators
Soci
o-
econo
mi
c effi
ci
en
cy
1. Indicators of effectiveness of educational activities of higher education
institutions:
1.1 The number of graduates who continued their studies in master's and
postgraduate studies.
1.2 The number of graduates working in their specialty.
1.3 Number of university graduates with career growth.
1.4 Number of students - laureates, winners of international, regional, city,
scientific competitions, Olympiads.
2. Number of students receiving research grants.
Indicators of international activity of HEIs:
2.1. The place of the university in the international ranking.
2.2. The number of foreign students studying at HEIs.
2.3. The number of foreign teachers involved in HEIs.
2.4. Number of students of Higher Education Institution - winners of
international scientific conferences.
2.5. The number of students who have completed the bilateral co-
educational program.
3. Social indicators:
3.1. Number of students from certain social groups - orphans, number of
students studying from poor families.
3.2. The number of students with disabilities who have the opportunity to
study at HEIs;
3.3. The number of students engaged in volunteer activities at HEIs.
3.4. Number of students of higher education institutions - laureates,
winners of international, regional, city, scientific competitions (in culture,
sports, public works)
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- straightforwardness of the comes about of assessment of its level in making
administration choices of higher education institutions;
- the straightforwardness of markers reflecting the obligation of the heads of higher
instruction teach and all basic units for the viable utilize of budgetary and extra-budgetary
money related assets.
Within the conditions of advertise relations, the effective operation of higher education
institutions depends on participation within the competent administration of money related
assets. Financial management in higher education institutions alludes to the most viewpoints
of overseeing monetary assets, such as arranging, determining, inside bookkeeping, observing
and execution assessment. For the improvement of budgetary administration in higher
education institutions, the usage of the observing framework is imperative in numerous ways.
It is carried out inside the system of the checking or control work within the field of money
related administration and frequently screens the monetary markers of higher education
institutions.
Conclusion
To summarize, the results of the article provide valuable information about available
literature analysis for academics, as well as for candidates of a PhD degree programme as
guidelines to study the methods of financing of higher education institutions.
The above-mentioned present day checking framework for assessing the viability of
budget administration, which guarantees the successful utilize of budgetary and extra-
budgetary reserves in higher education institutions, may be a prerequisite for successful,
focused on utilize of the shaped budget and extra-budgetary stores and makes conditions.
This, in turn, makes a strong establishment for feasible improvement and expanding
competitiveness of higher education institutions.
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Johnstone, D. B. (2004). The economics and politics of cost sharing in higher education:
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403-410.
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Marshall Alfred. (1920) Principles of Economics. 8th ed. New York: Macmillan and Company.
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