The Development Programme will be financed through all types of revenues generated by the University in line with its plan of financial and economic activities, as approved every year as per established procedure. The University’s revenues will increase by 133% by 2024 (against 2020’s revenue) and 180% by 2030 (excluding state capex injections), e.g., the increase in extra-budgetary revenue will come to 155% by 2024 and 217% in 2030, respectively.
The general trend in extra-budgetary revenues will outstrip the growth of overall budget financing (the share of extra-budgetary revenues in the University’s total revenues stood at 49% in 2020; in 2024, this figure will come to at least 57% in 2024 and at least 59% by 2030).
The main increase in extra-budgetary revenues will be achieved both through the expansion of the University’s position on traditional markets and tapping into new markets and new types of products.
Total funds received every year from the income of the HSE Endowment Fund will more than double.
HSE University will earmark at least one fourth of its total income (excluding target subsidies) for the implementation of projects under the Development Programme (project development) (total earmarks for project development shall count for at least 25% of the total income (excluding target subsidies) every year from 2021 until 2030).
A key area of project expenditures includes the expansion of the range and the volume of research, development of HR potential, modernization of educational models, digital transformation and infrastructural development. The structure, size and sources of funds to defray expenditures on the Programme implementation shall be determined during the development of the financial/economic plan for the respective period. Total financing to support activities under the Development Programme is specified in Annex No. 2 hereto.
The Development Programme includes efforts to modernize the University’s digital infrastructure, the total financing for which shall be adjusted every year as per established procedure in line with the draft federal budget for the specific financial year and the planned period.
The implementation of activities to develop HSE University’s property fund, as specified in the Development Programme, foresees boosting the University’s academic and laboratory space to the average sectoral figure (15 sq. m. per student) by 2024, as well as increasing the dormitory space (up to 50% of the student cohort shall have dormitory placements). In turn, the University will annually co-finance these Development Programme’s efforts with its own funds, at a rate permissible for covering these costs without negatively affecting its core activities (up to 2% of revenues from the University’s income-generating activities).