THE ROLE OF FINANCIAL PLANNING AND FORECASTING IN THE MANAGEMENT OF INNOVATIVE AND BUSINESS ACTIVITIES OF MODERN HIGHER EDUCATION
This article is devoted to the assessment of the role of existing technologies of financial planning and forecasting (in particular - budgeting) in relation to new realities of functioning of modern universities in the innovation ecosystem. It is shown that in the modern economic environment, universities act as generators of human capital and entrepreneurial function of future professionals of the "new formation". Along with this, since modern universities are subjects of innovation and entrepreneurial activity, issues of their internal financial planning acquire one of the priority values. The most optimal tool for such planning can be recognized as budgeting as the most adaptive, strategically and project-oriented technology of financial planning and management, which proved its practical effectiveness. Modification of the budgeting system of the university in modern conditions for the purposes of implementing innovation and entrepreneurial functions can contribute to more rational use of resources, better forecasting of the results of various projects, faster decision-making, more effective commercialization and better interaction with subjects of the real sector of the economy.