The 2022 Budget Implementation Report of Avicenna – Batumi Medical University

The University 2022 Budget Implementation Report was approved by the General Meeting of Partners of Avicenna-Batumi Medical University, LLC on January 30, 2023. The foundational financial plan that supports the university’s successful operation and aligns with its strategic development goals is the budget of Avicenna-Batumi Medical University, LLC.

On July 21, 2022, Avicenna-Batumi Medical University, LLC was established. The primary investments, however, which included the planning, building, and furnishing of the main administrative and educational campus in addition to the acquisition of certain study materials and resources, were made by the founders between 2019 and 2022. The decision to found the university was made in 2019. The last-minute and urgent measures that had to be taken in order to improve the university’s curriculum and resources and, on the other hand, implement university management and get it ready for authorization, are included in the budget that has been in place since the university’s founding.The university’s founders provided all funding for the construction of the main educational administration building, which opened for business during the same time period.

In addition to paying university employees, the following expenses were budgeted for in 2022:

• Teaching and laboratory base: In order for the university to operate, its founders gave it clinical bases for shared use. However, the university’s top priority now is building the necessary study spaces or centres for theoretical teaching and visualisation as well as fortifying its own study base. Appropriate funding was allocated for this purpose in the budget. In 2022, 63.8% of the whole budget was allocated for funding the teaching laboratory equipment and library resources.
• Simulators – accounting for 38.5% of the funds;
• Anatomical models: 9.5% of funds allocated;
• apparatus for laboratories – 8.6% of the budget;
• Examine the literature (7.2% of the funds).

• Trainings: The university understands the value of excellent instruction, staff development, and information exchange. As a result, the strategic development plan for the years 2023–2029 identified and anticipated elements including enhancing instruction quality continuously, supporting staff growth, and facilitating the sharing of experiences. The planning and organisation of the administrative and educational trainings was done for this reason; the services rendered came to 6% of the total cost.
• Advertising: The University gave some cash for a range of advertising services. The entire amount spent in this area amounted to 3.7% of the funds that were actually used. The funds was used to create the university’s logo, website, and several advertising banners.
• Purchase of computer equipment: In addition to the basic equipment that the University’s founder donated, a portion of the computer accessories and communication system were purchased; these purchases accounted for 1.9% of the actual budget.

Other costs: representation costs associated with carrying out the University’s operations were funded.