Revolving funds have become critical institutions in terms of public finance due to our financial management system and the effects on corporate performance. In our study, the revenue, expenditure and debt structure of 42 university revolving fund hospitals are analyzed by panel data analysis for 2009-2015 period. The results of the analysis show us that change in the structure in income and expenses is a significant on revolving fund deficits and debts. The concrete steps to be taken to improve expenditure management beside increasing revenues in the university revolving funds will result in improving financial performance. The improvement of the fiscal management system based on the efficiency in the hospitals through interdisciplinary studies and the establishment of an effective internal control system are inevitable for ensuring better fiscal performance and financial sustainability.