PERSPECTIVE OF THE UNIVERSITY COMMUNITY OF THE ACCOUNTING FACULTY IN VERACRUZ ABOUT THE IMPACT OF THE FINANCIAL CRISIS AT THE UNIVERSIDAD VERACRUZANA
Universidad Veracruzana (MEXICO)
About this paper:
Conference name: 10th annual International Conference of Education, Research and Innovation
Dates: 16-18 November, 2017
Location: Seville, Spain
Abstract:Higher Education is a fundamental factor for the economic development and the social welfare of a country, therefore, the investment that is destined to it, is a strategic element of Public Politics.
Mexico has advanced in the expansion of Public Higher Education budget, however, there are still very important challenges to be covered. Public Higher Education Institutions currently face major financial pressures that jeopardize their ability to provide quality services that society demands.
The financial situation of the State Government of Veracruz is complicated, which has had a significant impact on the Universidad Veracruzana, creating pressure to obtain resources from the Federal and State Government that belong to this House of Studies.
The objective of this research is to know the perception between the University Community (officials, students and professors) of the Accounting Faculty of the Universidad Veracruzana, in Veracruz, about the impact of the financial crisis that is facing the University since 2015, due to the lack of a large part of the funds coming from Federal and State public resources.
A quantitative methodology was used, which allowed the analysis of the results obtained from a survey applied to the University Community of the Accounting Faculty in Veracruz.
Although the Federal and State funding received by the Universidad Veracruzana is limited in relation to the wide range of institutional services it provides, the last two years have been especially difficult for the University in terms of the payment of its operating costs and the maintenance of its institutional image and leadership. This is caused by the delay in the delivery of a significant part of the subsidies that the State Government should have distributed since 2015, which has created a decrease in the University income of more than two billion pesos.
As a result, the Central Administration was forced to make budgetary adjustments under a strict planning and reorganization, based on savings and rationalization policies and the redirection of expenses in different areas. These changes have allowed the Universidad Veracruzana to face this complicated financial situation without harming the quality of its institutional services.
Keywords: Higher Education, Economic Development, Public Institution of Higher Education, Quality and Resources.