Building a Financial Model for Developing a Flagship Technical Higher Education Institution

This paper covers both the problem of funding flagship technical universities and that of choosing a better financing model in the current context. Financial support of a higher professional education institution is highly important for the state. Therefore, studying the methods for capital raising to invest the country's higher education institutions (HEI) seems to be the task of highest priority. It is also important that any specific HEI realizes which funding sources are the most preferable for it, how efficiently the sources are utilized, and in what way its personal activity should be developed in the coming future. To select the best model for funding a newly emerged regional flagship HEI is particularly essential. The model of regional flagship technical HEI development should provide variants and mechanisms for developing regional systems in the following context: - limited federal and regional resources; - low demand for innovation; - problems with human resources, differently vectored interests of the subjects involved in the process. This paper studies and determines the optimal model of financing a regional flagship technical university via mathematical methods by viewing the case of Volgograd State Technical University.