The Programme Budget Model as a Basis for Measuring the Performance of the Public Sector in Transition Economies

Slobodan Radisic; Jožef Kabok; Vladimir Djaković; Bogdan Kuzmanovic

Slobodan Radisic University of Novi Sad, Faculty of Technical Sciences, Novi Sad
Jožef Kabok Provincial Secretariat for Higher Education and Scientific Research, Novi Sad
Vladimir Djaković University of Novi Sad, Faculty of Technical Sciences, Novi Sad
Bogdan Kuzmanovic University of Novi Sad, Faculty of Technical Sciences, Novi Sad

Abstract

Programme budget model is a significant instrument for improving the situation in the public finance system, especially in transition economies. Thus, the process of implementation of reforms and the consolidation of the public sector are essential for the creation of adequate baselines for further sustainable growth and development of transition economies while observing their specificities. Accordingly, the subject of the research is the analysis of the current state of affairs in the process of financial system reforms, that is, public funding with a special focus on the area of budgeting of the higher education in the transition economies of Serbia, Croatia and Hungary. The main objective of the research is determining the performance of the programme budget model in the public sector of the observed transition economies in order to improve public finance management. The research results indicate the adequacy and advantages of using the programme budget model in terms of significant improvement in budgetary performance and results in accordance with the defined programme activities.

Author Biographies

Slobodan Radisic, University of Novi Sad, Faculty of Technical Sciences, Novi Sad

Dr Slobodan Radisic, PhD is a docent at the Faculty of Technical Sciences in Novi Sad, in the Production systems, organization and management areas. He has attained the title of PhD of economics at the Faculty of Economics of the University of Niš and his field of research focused on the models of managing business risk in terms of business optimization. His research is focused on the revision process, accounting and public finance. He is also known as an author and co-author of the multiple scientific research in national and international magazines.The field area for this research is social and national capital privatization, revision and controlling in public services, management accounting and financial management. Slobodan is also a lecturer at the Faculty of economics and Engineering in Novi Sad at Business Economy and Finance study programme.

Jožef Kabok, Provincial Secretariat for Higher Education and Scientific Research, Novi Sad

Dr Jožef Kabok is employed in the Provincial Secretariat for Higher Education and Scientific Research of the Autonomous Province of Vojvodina. He successfully defended his Master’s thesis in the field of management and business at the Faculty of Economics in Subotica, University of Novi Sad, and his PhD in the field of engineering management at the Faculty of Technical Sciences in Novi Sad, University of Novi Sad. He has published papers in the areas of financing and management of higher education. He lives in Novi Sad.

Vladimir Djaković, University of Novi Sad, Faculty of Technical Sciences, Novi Sad

Vladimir Djaković was born at Novi Sad on 1st February, 1980. He did his Ph.D. thesis in 2013 in the field of Investment Management at the University of Novi Sad, Faculty of Technical Sciences. Assistant Professor Djakovic’s field of interest includes the following: Investment management, Financial management, Risk management and Portfolio management. His research focuses on the investment optimization processes using modern risk management investment tools. Special emphasises in his research is placed on transitional economies and the possibilities of using modern investment optimisation tools on these markets. He has taught courses at all levels (B.Sc., M.Sc. and Ph.D.).

Bogdan Kuzmanovic, University of Novi Sad, Faculty of Technical Sciences, Novi Sad

Dr Bogdan Kuzmanovic has been employed at the Faculty of Technical Sciences in Novi Sad, as an assistant professor in the field of insurance, prevention engineering and risk management at the undergraduate, master’s and doctoral studies. He has a several year experience in industry. For more than 20 years he worked in the insurance company DDOR Novi Sad where he was the general manager. Now, in addition to his engagement at the Faculty, he is engaged in Transnafta as a CFO. He is an author and co-author of several papers in the field of organization, management and risk management .