When the Basic Decree on Institutions of Independent Financing was issued at the end of December 1953, the Mathematical Institute commenced functioning as an institution of independent financing. Such a transformation implied that the financing of the Institute’s activities was no longer performed within the budget of the Serbian Academy of Sciences (SAN), but instead, the Institute was going to manage independently all its property. In January 1954, the first checking account of the Mathematical Institute was opened in the National Bank of the Federal People's Republic of Yugoslavia, which was at its disposal and which would enable the Institute to conduct its financial operations in the future.

It should be borne in mind that the Mathematical Institute provided its income primarily from state grants, which covered its regular personal and material expenditures (Table 1). In fact, its financial operations were still performed within the Academy's accounting, but on a separate account. Moreover, the Academy rented out the premises in which the Institute was accommodated free of charge and bore the expenses of heating and lighting. Since the Academy continued to supervise the activities and tasks of the Institute, it seems true that, although the budgeting system was replaced by a system of independent financing, it was just a different type of budgeting, so the Institute continued to operate enjoying the strong support of all SAN bodies. However, at the same time, is also true that this was the first (preparatory) phase of the complete independence of the Institute and its separation from the Academy in 1961.