Financial governance in university academic units

This article presents UrFU experience in developing, implementing and improving financial model of the activities of main university academic structures - institutes. Key parameters of this model are a high degree of teaching process and related financial support decentralization, per capita approach, multichannel financing, mutual calculations method on the basis of student credits. The article provides a brief description of systems preceding the current financial model, analysis of factors influencing formation and evolution of its parameters and methods of UrFU institutes financing. The article also describes the consequences and of establishment and further changes of model parameters, including exclusion of chairs from the financial responsibility centers network in the field of higher education. The functioning of UrFU institutes financial support model demonstrates the experience of uniting requirements related to university teaching process peculiarities and practice of corporate finance management, financial modeling, adaptation of these practices for such a unique organization as the university.