Restructuring of university revolving funds within the scope of public financial management: A model suggestion

Several changes have been made about restructuring of revolving fund companies. However, since these changes were not taken into consideration as a whole, after each revision, some problems in a different issue occurred. Generally, restructuring efforts of revolving funds have covered revision about financial process. Any attempts to eliminate the clumsiness about administrative structuring and functioning of revolving funds have not been done. But, with Public Financial Management and Control Law no. 5018 which was enacted in 2003 and came into effect in 2006, new concepts were introduced and definitions were done. Structuring works of revolving funds within the context of this law are in progress. In the light of these configurations, the articles of Higher Education Law no. 2547 related with revolving fund should be harmonized with the law no. 5018. In addition to this, administrative, organizational structure and functioning of university revolving funds must be structured in authority and responsibility paradigm. Besides, current situation of university revolving funds may be recovered through structuring or revolving funds can be converted to equity company.