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European trends in governance and diversification of funding in Higher Education

European trends in governance and diversification of funding in Higher Education. Enora Bennetot Pruvot Programme Manager Governance, Autonomy & Funding “Governance and Diversification of Funding in Higher Education” University of Cyprus 09.03.2011. Financial Sustainability. Universities

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European trends in governance and diversification of funding in Higher Education

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  1. European trends in governance and diversification of funding in Higher Education Enora Bennetot Pruvot Programme Manager Governance, Autonomy & Funding “Governance and Diversification of Funding in Higher Education” University of Cyprus 09.03.2011

  2. Financial Sustainability Universities Funders Public authorities

  3. Income diversification • Generation of additional income (through new or existing funding sources) that contributes to balancing the income structure of the institution.

  4. EUDIS data collection

  5. What drives institutions to diversify? • General economic context • Risk management and dependency on state funding • Globalisation and Internationalisation • Mission expansion  • Need for flexibility and “unconstrained” money • Enhancing competitiveness

  6. State of play • On average, almost ¾ of universities’ funding comes from public funding sources

  7. Public funding trends and impacts • Block grants and formula funding • Growing importance of output criteria => influences university’s strategic choices • Competitive funding • Increasingly relevant for universities => Requires universities to invest in their research support capacities • Targeted funding • Authorities tend to cut in block grants and re-introduce targeted funding geared towards the achievement of specific objectives => restricts auonomy

  8. Additional income streams • Contracts with the private sector: 5-7% on average but wide range (up to 25%) • Philanthropic funding: 3-4% - importance of competitive funding from foundations • Income-generating services: 4% - UK leader – facilities & catering; consultancy highest sources • International public funding (mostly EU) • Financial activities

  9. Funding challenge 1: Complex financial management • Some universities have more than a 100 funding sources! • Different accountability regimes – high costs of compliance!

  10. Funding challenge 2: Increasing co-funding • Do not cover the full costs of an activity • Widens the FUNDING GAP

  11. Funding challenge 3:European funding schemes: co-funding and complexity

  12. Funding challenge 4: Impact of the economic crisis

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