FINANCIAL AUTONOMY OF UNIVERSITIES FROM THE PERSPECTIVE OF REVENUE AND EXPENDITURE

The financial management of universities mainly relies on financial revenue and expenditure. Accordingly, it is mainly reflected in the right to determine items of revenue and levels of revenue as well as items of expenditure and levels of expenditure for training and scientific research activities. Whether or not financial autonomy is substantial depends on universities' right to decide how their revenue and expenditure are determined and the right to self-determination in expenditure to achieve the goal of earning enough to cover spending, provided that the quality of training meets society's expectations. Based on an overview of a number of related studies on university financial autonomy in some countries, the clarification of the nature of financial autonomy, and the assessment of the inadequacies in ensuring financial autonomy for universities in Vietnam, the article proposes some solutions to improve the efficiency of financial management of universities. The solutions are mainly approached from the ensuring of universities' autonomy through two factors, namely financial revenue and expenditure