UEFISCDI was established based on Law 150/2000; it is a public institution with juridical personality, and a specialised body of the Ministry of Education, Research, Youth and Sports. UEFISCDI is subordinated, for administrative purposes, to the Ministry of Education, Research, Youth and Sports, and for functional purposes to the National University Research Council – CNCSIS and National Higher Education Financing Council - CNFIS. The organisation’s mission is the management of the necessary financial resources for sustaining development of higher education and research. To this effect, the organisation intends to attract financial resources and direct its activity toward a quality management of financing in higher education and research. 

In compliance with Law 202 of 2 June 2009 concerning the approval of Emergency Governmental Ordinance no. 124/2008, UEFISCDI has the following major functions: 
- to assist CNFIS and CNCSIS in the implementation of policies elaborated by the Ministry of Education, Research, Youth and Sports, based on proposals coming from the afore mentioned councils; 
- to ensure material and financial conditions for organisation of grant competitions; 
- to develop the entire operational process concerning the selection and auditing of proposed projects and programs to be financed by the afore mentioned councils and to support the project financial management; 
- to elaborate the documentation for allocation of financial resources from the state budget and other incomes, in view of financing higher education and university research, in compliance with decisions of National Higher Education Financing Council and the National University Research Council, based on the law in force; 
- to ensure the good development of current activities of the National Higher Education Financing Council and the National University Research Council in relationship with the higher education institutions and other public or private organisations and institutions; 
- to manage and coordinate the resources allocated to the National Higher Education Financing Council and National University Research Council, in compliance with the decisions of the two councils, according to the law; 
- to manage a descentralised system, implement, monitor and evaluate institutional development and system programs and projects, including scientific development programs and projects with national or international financing, with the approval of the Ministry of Education, Research, Youth and Sports. 

For further details on UEFISCDI, please see the website http://uefiscdi.gov.ro/.