Financing activities of modern universities - approaches, challenges, problems

The article examined the main approaches to the funding of universities and possible mechanisms for their subsequent efficient financial management. The main sources of funding for modern universities, are usually a mix of state funding other targeted grants, tuition fees and revenues from economic activity. The declining targeted budgetary resources for the financing of universities, and linking it to performance (quality, rating realization), forcing universities to seek alternative sources of financing, incl. and through the expansion of the international education market. The growing need for effective management of university assets and financial resources available has led many universities to seek expert management, both from the financial manager and through various elements of proven practices for effective corporate governance.