Financial Management
Process description
Increasing operating income compared to Estonia’s nominal GDP growth.
Regulations
- Approval of the overhead allocation rates and indirect cost rates used for pricing
- Approval of the rates of fees for accreditation of prior and experiential learning
- Conditions and procedure for applying for, grant and payment of need-based special allowance
- Financial Regulations
- Rules for Calculating the Workload of Teaching of Academic Structural Units
- Rules for Remuneration
- Rules for the management and use of the grant fund, teaching and learning development fund, real estate fund, IT development fund and the fund of the implementation plan of the Strategic Plan
- Statutes of Tallinn University of Technology
- Strategic Plan of Tallinn University of Technology 2021–2025
The process is not bound to any legislation or is regulated by the legal acts that are restricted to internal use
Risks
- Risk 2:
Non-transparency of internal university funding models and rules will devalue the quality of trust management.
- Risk 5:
Financial ambiguity and underfunding of the tenure system will harm the sustainability and attractiveness of an academic career in the long term.
- Risk 7:
Cessation of external research funding in research groups will threaten the sustainability of research groups and directions.
- Risk 25:
Constant underfunding of university premises will not allow for the sustainable development of university campus and other property.
- Risk 31:
The general decrease in purchasing power resulting from external price shock (sudden increase in costs forces to stop investments and developments or optimize on a larger scale).