EVALUATING THE APPLICATION OF THE BALANCED SCORECARD AT THE UNIVERSITY OF LABOUR AND SOCIAL AFFAIRS UNDER FINANCIAL AUTONOMY

Abstract Financial autonomy in universities enhances the effectiveness of capital mobilization and utilization, specifically: the effectiveness of mobilizing non-budgetary sources/total financial resources of public universities and the effectiveness of allocating and utilizing mobilized financial resources for expenditures aimed at ensuring training quality and improving the quality of output products, namely, graduates. The financial autonomy mechanism has created opportunities for public universities to enhance proactiveness and creativity in financial and asset management, utilize state budgets more economically and efficiently, develop career revenue sources by diversifying career activities and improving service quality, mobilize various capital sources for investment, strengthen facilities, innovate equipment through collaborative activities, and effectively exploit revenue sources. The mechanism has also gradually reduced state subsidies while increasing income for officials and civil servants within the unit.