Financial management, school leadership, similarties and dis similartiesSangeenMuhammad
This document discusses financial management, school leadership, and the similarities and differences between the two. It provides definitions and explanations of key concepts such as finance, management, financial management, and leadership. Regarding school leadership, it outlines principles, levels, and the role of the school head as an educational leader. It also discusses the dimensions of school-based management as it relates to leadership. The document notes some key similarities between leadership and management such as influencing people and goal achievement. However, it also outlines differences like leadership requiring trust and being proactive while management needs control and is often reactive. The conclusion is that leadership and management are interrelated and both are needed for organizational growth.
Financial management, school leadership, similarities and dissimilartiesSangeenMuhammad
This document discusses finance, financial management, leadership, and school leadership. It begins by defining finance and the different types of finance. It then discusses what financial management is and what it involves, including budgeting, forecasting, cash management, investment analysis, and funds management. The document also discusses financial management specifically in education. It explores different leadership styles like transformational, charismatic, visionary, transactional, autocratic, affiliative, democratic, and laissez-faire leadership. Finally, it discusses principles of school leadership and the roles and responsibilities of school heads as educational leaders.
Rocklin Unified Associated Student Body Training Fall 2009Rebekah
The document discusses the Rocklin Unified Associated Student Body (ASB) organization and guidelines. It outlines that ASBs allow students to participate in extracurricular activities and learn business skills. They can be organized at middle and high schools, where students make decisions about fundraisers and expenditures with advisor guidance. Proper procedures must be followed regarding forming the organization, establishing bank accounts, fundraising, expenses, record keeping, and reconciliations to comply with education codes and prevent audit findings. Resources for additional information and policies are also provided.
Si pi, margaretha, hapzi ali, analysis of internal control system the accepta...Universitas Mercu Buana
Si pi, margaretha, hapzi ali, analysis of internal control system the acceptance and expenditure of cash on pt. multi prima mandiri sukses, universitas mercu buana, 2019
Utilization of Maintenance and other Operating Expenses (MOOE) of Non-Fiscall...IJAEMSJORNAL
This study determined the utilization, budget allocation, and challenges encountered by the School Heads in the use of Maintenance and Other Operating Expenses (MOOE) funds in achieving the Annual Improvement Plan (AIP) in non-fiscally autonomous Senior High Schools the Division of Nueva Ecija. The 20 school heads were purposively selected as respondents of the study. The results revealed that the majority of non-fiscally autonomous senior high schools have MOOE ranges from Php250,000-Php 900,000 ($5,000 - $18,000) and with a population of 130 to 750 students. The MOOE budget for every year depends upon the number of enrollees. School heads have utilized 51% to 75% of MOOE funds for each activity/program indicated in AIP. The majority of them were given priority on security and utility services and challenged on the complaints and misconceptions about spending and allocating of MOOE expenses. Transparency, accountability, and maintaining harmonious relationships are the keys to ensure collaboration and teamwork for the betterment of school and learners as well.
This document contains frequently asked questions about the LifeSize Passport Connect video conferencing product. It discusses the product's features, pricing, availability, and how it compares to other LifeSize products. Key details include that Passport Connect will be available in Q3, has a promotional price of $999 when purchased with a Connections subscription, and its simplified user interface is optimized for cloud-based video calling through services like LifeSize Connections.
The document discusses different types of variables in research:
1. Independent variables are factors that are manipulated by researchers to determine their effect on dependent variables.
2. Dependent variables are factors that are observed and measured to determine the effect of independent variables.
3. Moderating variables modify the relationship between independent and dependent variables.
4. Control variables are controlled by researchers to neutralize their potential effects on the relationship between independent and dependent variables.
5. Intervening variables theoretically affect phenomena but cannot be directly observed or manipulated.
It also discusses different types of data (qualitative, quantitative), measures of central tendency (mean, median, mode), and measures of variability (
Financial management, school leadership, similarties and dis similartiesSangeenMuhammad
This document discusses financial management, school leadership, and the similarities and differences between the two. It provides definitions and explanations of key concepts such as finance, management, financial management, and leadership. Regarding school leadership, it outlines principles, levels, and the role of the school head as an educational leader. It also discusses the dimensions of school-based management as it relates to leadership. The document notes some key similarities between leadership and management such as influencing people and goal achievement. However, it also outlines differences like leadership requiring trust and being proactive while management needs control and is often reactive. The conclusion is that leadership and management are interrelated and both are needed for organizational growth.
Financial management, school leadership, similarities and dissimilartiesSangeenMuhammad
This document discusses finance, financial management, leadership, and school leadership. It begins by defining finance and the different types of finance. It then discusses what financial management is and what it involves, including budgeting, forecasting, cash management, investment analysis, and funds management. The document also discusses financial management specifically in education. It explores different leadership styles like transformational, charismatic, visionary, transactional, autocratic, affiliative, democratic, and laissez-faire leadership. Finally, it discusses principles of school leadership and the roles and responsibilities of school heads as educational leaders.
Rocklin Unified Associated Student Body Training Fall 2009Rebekah
The document discusses the Rocklin Unified Associated Student Body (ASB) organization and guidelines. It outlines that ASBs allow students to participate in extracurricular activities and learn business skills. They can be organized at middle and high schools, where students make decisions about fundraisers and expenditures with advisor guidance. Proper procedures must be followed regarding forming the organization, establishing bank accounts, fundraising, expenses, record keeping, and reconciliations to comply with education codes and prevent audit findings. Resources for additional information and policies are also provided.
Si pi, margaretha, hapzi ali, analysis of internal control system the accepta...Universitas Mercu Buana
Si pi, margaretha, hapzi ali, analysis of internal control system the acceptance and expenditure of cash on pt. multi prima mandiri sukses, universitas mercu buana, 2019
Utilization of Maintenance and other Operating Expenses (MOOE) of Non-Fiscall...IJAEMSJORNAL
This study determined the utilization, budget allocation, and challenges encountered by the School Heads in the use of Maintenance and Other Operating Expenses (MOOE) funds in achieving the Annual Improvement Plan (AIP) in non-fiscally autonomous Senior High Schools the Division of Nueva Ecija. The 20 school heads were purposively selected as respondents of the study. The results revealed that the majority of non-fiscally autonomous senior high schools have MOOE ranges from Php250,000-Php 900,000 ($5,000 - $18,000) and with a population of 130 to 750 students. The MOOE budget for every year depends upon the number of enrollees. School heads have utilized 51% to 75% of MOOE funds for each activity/program indicated in AIP. The majority of them were given priority on security and utility services and challenged on the complaints and misconceptions about spending and allocating of MOOE expenses. Transparency, accountability, and maintaining harmonious relationships are the keys to ensure collaboration and teamwork for the betterment of school and learners as well.
This document contains frequently asked questions about the LifeSize Passport Connect video conferencing product. It discusses the product's features, pricing, availability, and how it compares to other LifeSize products. Key details include that Passport Connect will be available in Q3, has a promotional price of $999 when purchased with a Connections subscription, and its simplified user interface is optimized for cloud-based video calling through services like LifeSize Connections.
The document discusses different types of variables in research:
1. Independent variables are factors that are manipulated by researchers to determine their effect on dependent variables.
2. Dependent variables are factors that are observed and measured to determine the effect of independent variables.
3. Moderating variables modify the relationship between independent and dependent variables.
4. Control variables are controlled by researchers to neutralize their potential effects on the relationship between independent and dependent variables.
5. Intervening variables theoretically affect phenomena but cannot be directly observed or manipulated.
It also discusses different types of data (qualitative, quantitative), measures of central tendency (mean, median, mode), and measures of variability (
This document contains responses from Jyn A. Heli to examination questions about school management.
The responses discuss several key topics:
1. Justifying the value of building a shared vision, sustaining competitive advantages through staff, clear communication, understanding development needs, training, and reviewing effectiveness.
2. Providing a financial system to achieve budgetary policy objectives such as controlling resources, accountability, diversifying funds, and financial processes.
3. Sharing best practices around financial information needs such as cash flow projection, budgeting, financial position, and accounting policies at their school.
4. Completing a table outlining concerns to address regarding human resources, finances, technology, promotion strategies,
Budgeting and good governance are important for educational institutions. Budgeting creates a spending plan to ensure there is enough money for needs and priorities. It prevents debt and helps pay off existing debt. Governance refers to all processes of governing and decision making among actors dealing with a collective problem. This leads to social norms and institutions. For educational institutions, budgets must account for salaries, student stipends, equipment, maintenance, supplies, transportation, and contingencies. Good governance supports high-quality education and research through organizational efficiency and effectiveness. It facilitates rational, informed, and transparent decision making. Problems can include inaccurate or rigid budgets that don't consider non-financial outcomes or innovation, and governance issues like lack of citizen control over resources
This document discusses managing school finance. It defines financial resource management in education as the process of planning, organizing, allocating, distributing, utilizing and controlling funds to achieve educational goals. Managing school finance includes accounting, reporting, and protecting assets. Environmental factors like the economic, political, social, and technological environment can influence how schools manage their financial and physical resources. The role of government in financing education is also discussed, as governments aim to increase economic efficiency and promote equitable access to education.
Ethics of Higher Education Finance Page 2 of 3 .docxSANSKAR20
Ethics of Higher Education Finance Page 2 of 3
By the end of this lesson, students should be able to:
Discuss what acting for the public good means to higher education finance.
Explain how to distinguish between a self-promoting gift and one that is not.
Explain ways universities have attempted to handle finances and fundraising in an effort
to act in the most ethical way possible.
Describe how to ensure that donors are treated fairly and their wishes are followed.
Financial management in higher education has been under scrutiny for the way money is
handled. There are many opportunities for employees to personally benefit from the money
designated for universities. All universities should strive to educate and monitor financial
transactions to ensure that the public trust is unquestioned.
When a person acts for the public good they strive to increase the welfare of those around
them other than themselves. Our policies should be established in a way that does not require
a person to act against their own self-interest. The policies should provide a well thought-out
framework in which to work so that the temptation to benefit one is not an option. People have
a tendency to operate from a position of self-interest. Self interest can be referred to as
“egoism”. Acting for the public good requires that the person is motivated by their own ego but
the action is to increase the public good.
Collectivism is when a group of persons are benefitted by a certain action. In higher education
we work individually and in groups to accomplish the goals of the university. When a group
works to better the institution in which they also benefit is collectivism. Social dilemmas arise
when a person or group have to choose who will benefit from a particular action. Some groups
benefit while others do not. Another dilemma is when the benefits of a decision are greater for
one group than another.
We say that a person is altruistic if their motives are to benefit one or more persons other than
themselves. Principlism is motivation to uphold a morale principle. It is necessary to
understand these various concepts to lay the foundation for understanding how to properly
manage money.
As administrators in higher education we are expected to act in a manner that is ethically and
fiscally responsible. We have a social responsibility to do the jobs we are paid to do to the best
of our abilities. Fiduciary responsibility means that we are responsible for the proper financial
management of the money we control. Anyone who experiences the effects of the activities of
the university are called “stakeholders”. A healthy tension occurs when our fiduciary
responsibilities are contrasted with our social responsibilities. This tension is called the
“stakeholder’s paradox”.
Ethics of Higher Education Finance Page 3 of 3
Universities were established to promote an increase in intellect and social ide ...
Connor Grieb completed a 291-hour internship from May 18, 2015 to August 14, 2015 at the Coweta County School System Central Office in Newnan, GA. His primary tasks involved auditing financial records for 25 schools, entering transportation employee timesheets, preparing vendor checks, and updating employee salary sheets. The internship provided real-world experience in accounting and payroll departments that will benefit his future career. Connor indirectly managed bookkeepers for 31 schools by performing audits and providing written reviews to improve their record keeping. The goal of the internship was to gain skills applicable to efficiently operating a large school system.
To effectively manage a school budget, schools must prioritize essential expenditures, create a comprehensive budget plan, allocate resources appropriately, and track expenses regularly. This allows schools to ensure funds are spent efficiently and effectively so educators can focus on providing the best possible education for students. It is also important to balance school spending with effective budget management to maximize the value of education, as proper management ensures resources are used in the most efficient way leading to better educational outcomes.
Latest report summary on school governancedownhousel
This document summarizes a report on effective school governance. It finds that the most effective governing bodies 1) have positive relationships with school leaders based on trust and transparency, 2) are well-informed about student achievement through high-quality data, and 3) provide meaningful support and challenge to school leaders through regular monitoring and questioning. The report identifies several key characteristics of outstanding governance, including efficient use of time, clear roles and responsibilities, and a focus on continuous self-improvement.
This study aimed to explore the survival of school financing management
during the COVID-19 pandemic, to assure the quality of teaching and
learning continuously. This study used a qualitative design, and data
collection is carried out by observing resource persons and in-depth
interviews, analysis or analysis of documentation and a combination of the
three as triangulation method. The collected data were analyzed using an
interactive model. The results showed that financial management strategies
in managing school finances effectively and efficiently, through
transparency, accountability and responsibility, are considered to have
contributed to the prospects, quality, progress and sustainability of education
in the midst of the COVID-19 pandemic. This is based on the fact that many
quality and good schools eventually experience setbacks due to the lack of
transparency, accountability and responsibility in the management of
education funds. Openness in schools can promote accountability and fight
corruption in education, if it is implemented effectively and any malpractice
is dealt with clear consequences. The implication is the strategies of
education financing management in terms of transparency, accountability and
accountability need to be carry out consistently to ensure the improvement of
school quality runs in a sustainable manner.
An exploration of skills needed by principals of teacher training colleges in...Alexander Decker
This document summarizes a study that explored the financial management skills needed by principals of teacher training colleges in Kenya. The study found that most principals had limited financial skills despite their responsibilities for budgeting, accounting, and expenditures. Interviews and surveys of principals and deputies at 11 colleges found they lacked training in financial management. The study aimed to identify skills gaps and make recommendations to improve training for principals. Providing financial management training could help principals better oversee college funds and resources, leading to more effective operations and accountability.
The document discusses implementing a balanced scorecard approach to improve teacher performance management in Nigeria. It provides background on the importance of education for national development. The balanced scorecard is presented as a strategic performance management tool that can align institutional objectives with strategies and metrics across financial, customer, internal process, and learning/growth perspectives. The document proposes a 7-step process for building and implementing an education-focused balanced scorecard, including selecting a team, clarifying strategy/objectives, developing measures, implementing initiatives, and reviewing outcomes. It recommends the Nigerian government adopt this approach to better evaluate teachers and administrators.
Financial Management is seeing to it that schools have the funds it requires to meet its goals in its quest to becoming a sustainable and viable institution and that value for money is gained for such funds expended.
Objectives of performance management systemPandiani74
The document discusses implementing a balanced scorecard approach to improve performance management of teachers in the Nigerian education sector. It outlines a 7-step process for building and implementing a balanced scorecard, including selecting a team, clarifying strategy and objectives, designing a strategic map, developing performance measures, championing new initiatives, implementation, and post-implementation review. The document recommends adopting a balanced scorecard system for teachers, establishing a national committee to design strategic maps for different education levels, and phasing in implementation over 12-24 months with support from government.
The document discusses implementing a balanced scorecard approach to evaluate teacher performance in Nigeria. It begins by establishing the importance of education for national development. It then discusses the traditional performance appraisal method for teachers and its shortcomings. The document introduces the balanced scorecard concept developed by Kaplan and Norton to use financial and non-financial metrics across four perspectives: financial, customer, internal processes, and learning and growth. It adapts this framework for the education sector and argues a balanced scorecard can better align teacher performance with institutional mission, improve accountability, and inform budgeting decisions. Finally, it outlines a seven-step process for building and implementing a balanced scorecard for teachers.
The document contains answers submitted by a student named Marcelo Augusto A. Cosgayon to final examination questions for a Human Resource Management course. The answers include a comparison of Personnel Management and Human Resource Management, proposed core values and organizational structure for a fictional academic institution, and job descriptions for positions in the Department of Social Work and Community Development.
This document outlines the various offices and roles within a preschool organization. It describes the responsibilities of the administrative office in providing leadership, developing policies, and managing business operations. It also discusses the roles of the financial management, accounting, and budget offices in overseeing the preschool's finances. Other offices mentioned include center operations, security, school health, and the roles of full-time and part-time preschool teachers.
This document summarizes key financial information needs for effectively managing school resources, including cash flow projection, budget allocation and mobilization, the financial position of the school, and accounting and financial policies. The response then shares the best practices of the institution where the author is currently employed related to delegating financial tasks with strict confidentiality, cash flow projection through treasurers and an organizational adviser, budget allocation through administrative prerogative, the school's financial position being used to build infrastructure, and accounting and financial policies being handled by a financial secretary without direct teacher involvement.
Commerce Shiksha Account education typically refers to the process of educating individuals or businesses about various aspects related to financial accounts classes in Hapur . This can include personal finance management, understanding banking services, using online banking platforms, budgeting, investing, and more. It's all about providing the necessary shiksha knowledge and skills to manage financial accounts effectively and make informed decisions about money matters.
The report summarizes the findings of an evaluation of the StartSmart financial literacy program conducted by the Australian Council for Educational Research (ACER). Key findings include:
- Primary students showed a large increase in behavioral intentions to save money regularly and secondary students showed increased understanding of concepts like superannuation funds and setting budgets.
- Teachers observed improvements in students' financial knowledge, attitudes, confidence, and intentions after participating in the program. Younger students better understood wants vs needs and where money comes from. Older students improved in areas like understanding super funds and interest.
- Interviews found that both students and teachers felt the program effectively taught important financial literacy concepts and skills in an engaging way. Teachers saw students
Status of School-Based Management Practices of Schools In Secondary Schools i...Jandel Gimeno
This document is an abstract for a master's thesis that examines the status of school-based management practices of school heads in secondary schools in Trece Martires City, Cavite, Philippines. The study aims to determine the current status of practices related to vision/goals, school programs, staff development, resource management, community involvement, donations/grants, school environment, and curriculum implementation. It will identify factors that influence implementation of school-based management and achievement of school heads' goals. The results could inform better standard operating procedures. The conceptual framework indicates that administrative duties and instructional leadership roles influence efficient school-based management and faculty performance.
This document discusses the importance of fiscal management in education. It argues that proper financial planning allows organizations like schools to better allocate funds, make strategic financial decisions, and increase their value and profits over the long run. Specifically, it notes that public schools are administered and funded by the government and may have fewer resources than private schools, which rely on tuition funding from students. Both public and private schools must employ thorough planning and analysis when managing their budgets and resources.
Abnormalities of hormones and inflammatory cytokines in women affected with p...Alexander Decker
Women with polycystic ovary syndrome (PCOS) have elevated levels of hormones like luteinizing hormone and testosterone, as well as higher levels of insulin and insulin resistance compared to healthy women. They also have increased levels of inflammatory markers like C-reactive protein, interleukin-6, and leptin. This study found these abnormalities in the hormones and inflammatory cytokines of women with PCOS ages 23-40, indicating that hormone imbalances associated with insulin resistance and elevated inflammatory markers may worsen infertility in women with PCOS.
This document contains responses from Jyn A. Heli to examination questions about school management.
The responses discuss several key topics:
1. Justifying the value of building a shared vision, sustaining competitive advantages through staff, clear communication, understanding development needs, training, and reviewing effectiveness.
2. Providing a financial system to achieve budgetary policy objectives such as controlling resources, accountability, diversifying funds, and financial processes.
3. Sharing best practices around financial information needs such as cash flow projection, budgeting, financial position, and accounting policies at their school.
4. Completing a table outlining concerns to address regarding human resources, finances, technology, promotion strategies,
Budgeting and good governance are important for educational institutions. Budgeting creates a spending plan to ensure there is enough money for needs and priorities. It prevents debt and helps pay off existing debt. Governance refers to all processes of governing and decision making among actors dealing with a collective problem. This leads to social norms and institutions. For educational institutions, budgets must account for salaries, student stipends, equipment, maintenance, supplies, transportation, and contingencies. Good governance supports high-quality education and research through organizational efficiency and effectiveness. It facilitates rational, informed, and transparent decision making. Problems can include inaccurate or rigid budgets that don't consider non-financial outcomes or innovation, and governance issues like lack of citizen control over resources
This document discusses managing school finance. It defines financial resource management in education as the process of planning, organizing, allocating, distributing, utilizing and controlling funds to achieve educational goals. Managing school finance includes accounting, reporting, and protecting assets. Environmental factors like the economic, political, social, and technological environment can influence how schools manage their financial and physical resources. The role of government in financing education is also discussed, as governments aim to increase economic efficiency and promote equitable access to education.
Ethics of Higher Education Finance Page 2 of 3 .docxSANSKAR20
Ethics of Higher Education Finance Page 2 of 3
By the end of this lesson, students should be able to:
Discuss what acting for the public good means to higher education finance.
Explain how to distinguish between a self-promoting gift and one that is not.
Explain ways universities have attempted to handle finances and fundraising in an effort
to act in the most ethical way possible.
Describe how to ensure that donors are treated fairly and their wishes are followed.
Financial management in higher education has been under scrutiny for the way money is
handled. There are many opportunities for employees to personally benefit from the money
designated for universities. All universities should strive to educate and monitor financial
transactions to ensure that the public trust is unquestioned.
When a person acts for the public good they strive to increase the welfare of those around
them other than themselves. Our policies should be established in a way that does not require
a person to act against their own self-interest. The policies should provide a well thought-out
framework in which to work so that the temptation to benefit one is not an option. People have
a tendency to operate from a position of self-interest. Self interest can be referred to as
“egoism”. Acting for the public good requires that the person is motivated by their own ego but
the action is to increase the public good.
Collectivism is when a group of persons are benefitted by a certain action. In higher education
we work individually and in groups to accomplish the goals of the university. When a group
works to better the institution in which they also benefit is collectivism. Social dilemmas arise
when a person or group have to choose who will benefit from a particular action. Some groups
benefit while others do not. Another dilemma is when the benefits of a decision are greater for
one group than another.
We say that a person is altruistic if their motives are to benefit one or more persons other than
themselves. Principlism is motivation to uphold a morale principle. It is necessary to
understand these various concepts to lay the foundation for understanding how to properly
manage money.
As administrators in higher education we are expected to act in a manner that is ethically and
fiscally responsible. We have a social responsibility to do the jobs we are paid to do to the best
of our abilities. Fiduciary responsibility means that we are responsible for the proper financial
management of the money we control. Anyone who experiences the effects of the activities of
the university are called “stakeholders”. A healthy tension occurs when our fiduciary
responsibilities are contrasted with our social responsibilities. This tension is called the
“stakeholder’s paradox”.
Ethics of Higher Education Finance Page 3 of 3
Universities were established to promote an increase in intellect and social ide ...
Connor Grieb completed a 291-hour internship from May 18, 2015 to August 14, 2015 at the Coweta County School System Central Office in Newnan, GA. His primary tasks involved auditing financial records for 25 schools, entering transportation employee timesheets, preparing vendor checks, and updating employee salary sheets. The internship provided real-world experience in accounting and payroll departments that will benefit his future career. Connor indirectly managed bookkeepers for 31 schools by performing audits and providing written reviews to improve their record keeping. The goal of the internship was to gain skills applicable to efficiently operating a large school system.
To effectively manage a school budget, schools must prioritize essential expenditures, create a comprehensive budget plan, allocate resources appropriately, and track expenses regularly. This allows schools to ensure funds are spent efficiently and effectively so educators can focus on providing the best possible education for students. It is also important to balance school spending with effective budget management to maximize the value of education, as proper management ensures resources are used in the most efficient way leading to better educational outcomes.
Latest report summary on school governancedownhousel
This document summarizes a report on effective school governance. It finds that the most effective governing bodies 1) have positive relationships with school leaders based on trust and transparency, 2) are well-informed about student achievement through high-quality data, and 3) provide meaningful support and challenge to school leaders through regular monitoring and questioning. The report identifies several key characteristics of outstanding governance, including efficient use of time, clear roles and responsibilities, and a focus on continuous self-improvement.
This study aimed to explore the survival of school financing management
during the COVID-19 pandemic, to assure the quality of teaching and
learning continuously. This study used a qualitative design, and data
collection is carried out by observing resource persons and in-depth
interviews, analysis or analysis of documentation and a combination of the
three as triangulation method. The collected data were analyzed using an
interactive model. The results showed that financial management strategies
in managing school finances effectively and efficiently, through
transparency, accountability and responsibility, are considered to have
contributed to the prospects, quality, progress and sustainability of education
in the midst of the COVID-19 pandemic. This is based on the fact that many
quality and good schools eventually experience setbacks due to the lack of
transparency, accountability and responsibility in the management of
education funds. Openness in schools can promote accountability and fight
corruption in education, if it is implemented effectively and any malpractice
is dealt with clear consequences. The implication is the strategies of
education financing management in terms of transparency, accountability and
accountability need to be carry out consistently to ensure the improvement of
school quality runs in a sustainable manner.
An exploration of skills needed by principals of teacher training colleges in...Alexander Decker
This document summarizes a study that explored the financial management skills needed by principals of teacher training colleges in Kenya. The study found that most principals had limited financial skills despite their responsibilities for budgeting, accounting, and expenditures. Interviews and surveys of principals and deputies at 11 colleges found they lacked training in financial management. The study aimed to identify skills gaps and make recommendations to improve training for principals. Providing financial management training could help principals better oversee college funds and resources, leading to more effective operations and accountability.
The document discusses implementing a balanced scorecard approach to improve teacher performance management in Nigeria. It provides background on the importance of education for national development. The balanced scorecard is presented as a strategic performance management tool that can align institutional objectives with strategies and metrics across financial, customer, internal process, and learning/growth perspectives. The document proposes a 7-step process for building and implementing an education-focused balanced scorecard, including selecting a team, clarifying strategy/objectives, developing measures, implementing initiatives, and reviewing outcomes. It recommends the Nigerian government adopt this approach to better evaluate teachers and administrators.
Financial Management is seeing to it that schools have the funds it requires to meet its goals in its quest to becoming a sustainable and viable institution and that value for money is gained for such funds expended.
Objectives of performance management systemPandiani74
The document discusses implementing a balanced scorecard approach to improve performance management of teachers in the Nigerian education sector. It outlines a 7-step process for building and implementing a balanced scorecard, including selecting a team, clarifying strategy and objectives, designing a strategic map, developing performance measures, championing new initiatives, implementation, and post-implementation review. The document recommends adopting a balanced scorecard system for teachers, establishing a national committee to design strategic maps for different education levels, and phasing in implementation over 12-24 months with support from government.
The document discusses implementing a balanced scorecard approach to evaluate teacher performance in Nigeria. It begins by establishing the importance of education for national development. It then discusses the traditional performance appraisal method for teachers and its shortcomings. The document introduces the balanced scorecard concept developed by Kaplan and Norton to use financial and non-financial metrics across four perspectives: financial, customer, internal processes, and learning and growth. It adapts this framework for the education sector and argues a balanced scorecard can better align teacher performance with institutional mission, improve accountability, and inform budgeting decisions. Finally, it outlines a seven-step process for building and implementing a balanced scorecard for teachers.
The document contains answers submitted by a student named Marcelo Augusto A. Cosgayon to final examination questions for a Human Resource Management course. The answers include a comparison of Personnel Management and Human Resource Management, proposed core values and organizational structure for a fictional academic institution, and job descriptions for positions in the Department of Social Work and Community Development.
This document outlines the various offices and roles within a preschool organization. It describes the responsibilities of the administrative office in providing leadership, developing policies, and managing business operations. It also discusses the roles of the financial management, accounting, and budget offices in overseeing the preschool's finances. Other offices mentioned include center operations, security, school health, and the roles of full-time and part-time preschool teachers.
This document summarizes key financial information needs for effectively managing school resources, including cash flow projection, budget allocation and mobilization, the financial position of the school, and accounting and financial policies. The response then shares the best practices of the institution where the author is currently employed related to delegating financial tasks with strict confidentiality, cash flow projection through treasurers and an organizational adviser, budget allocation through administrative prerogative, the school's financial position being used to build infrastructure, and accounting and financial policies being handled by a financial secretary without direct teacher involvement.
Commerce Shiksha Account education typically refers to the process of educating individuals or businesses about various aspects related to financial accounts classes in Hapur . This can include personal finance management, understanding banking services, using online banking platforms, budgeting, investing, and more. It's all about providing the necessary shiksha knowledge and skills to manage financial accounts effectively and make informed decisions about money matters.
The report summarizes the findings of an evaluation of the StartSmart financial literacy program conducted by the Australian Council for Educational Research (ACER). Key findings include:
- Primary students showed a large increase in behavioral intentions to save money regularly and secondary students showed increased understanding of concepts like superannuation funds and setting budgets.
- Teachers observed improvements in students' financial knowledge, attitudes, confidence, and intentions after participating in the program. Younger students better understood wants vs needs and where money comes from. Older students improved in areas like understanding super funds and interest.
- Interviews found that both students and teachers felt the program effectively taught important financial literacy concepts and skills in an engaging way. Teachers saw students
Status of School-Based Management Practices of Schools In Secondary Schools i...Jandel Gimeno
This document is an abstract for a master's thesis that examines the status of school-based management practices of school heads in secondary schools in Trece Martires City, Cavite, Philippines. The study aims to determine the current status of practices related to vision/goals, school programs, staff development, resource management, community involvement, donations/grants, school environment, and curriculum implementation. It will identify factors that influence implementation of school-based management and achievement of school heads' goals. The results could inform better standard operating procedures. The conceptual framework indicates that administrative duties and instructional leadership roles influence efficient school-based management and faculty performance.
This document discusses the importance of fiscal management in education. It argues that proper financial planning allows organizations like schools to better allocate funds, make strategic financial decisions, and increase their value and profits over the long run. Specifically, it notes that public schools are administered and funded by the government and may have fewer resources than private schools, which rely on tuition funding from students. Both public and private schools must employ thorough planning and analysis when managing their budgets and resources.
Similar to A critical analysis of school principals’ competence in financial management in kenya accountability in educational planning and management (20)
Abnormalities of hormones and inflammatory cytokines in women affected with p...Alexander Decker
Women with polycystic ovary syndrome (PCOS) have elevated levels of hormones like luteinizing hormone and testosterone, as well as higher levels of insulin and insulin resistance compared to healthy women. They also have increased levels of inflammatory markers like C-reactive protein, interleukin-6, and leptin. This study found these abnormalities in the hormones and inflammatory cytokines of women with PCOS ages 23-40, indicating that hormone imbalances associated with insulin resistance and elevated inflammatory markers may worsen infertility in women with PCOS.
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A critical analysis of school principals’ competence in financial management in kenya accountability in educational planning and management
1. Journal of Education and Practice www.iiste.org
ISSN 2222-1735 (Paper) ISSN 2222-288X (Online)
Vol.5, No.25, 2014
A Critical Analysis of School Principals’ Competence in Financial
Management in Kenya: Accountability in Educational Planning
and Management
Margaret N. Wagithunu, John Muthee, Dr. Ruth Thinguri
School of Education, Mount Kenya University, P. O. Box, 342-01000, Thika, Kenya.
Corresponding Author Email Address: nwagithunu@gmail.com
Abstract
This critical analysis seeks to explore the competence of the school Heads in Financial Management in Kenya.
Competence is acquired through training and experience. On the other hand accountability is a moral issue
acquired through schooling, theory and practice. It is believed that schools whose finances are well managed
determine the overall performance of the school. In contrast, principals who involve themselves in
misappropriation of funds, wastage, incompetence and are not responsible lacks moral authority in their duties
and fails to achieve the set goals of the institution.
The objective of the study was to analyze the principals’ competence and professionalism in managing school
funds. The concept of financial management is critical in schools because it facilitates planning and utilizing of
school funds economically and for the intended purposes. Principals in Kenyan schools are chief executive
officers (CEO) as well as accounting officer who executes all school development plans and, he/she implements
and controls school budgets.
School administration realizes that school has an aspect of a business. As an investment, it aims at maximizing
profit and wealth of the stakeholders- the students and parents which would pay dividends to the investors. The
concept of accountability in a school tracks records and monitors the element of honesty and responsibility in
using and spending school funds.
Keywords: Competence, Financial Management, School, Accountability.
1. Introduction
The government of Kenya is committed to ensuring that all Kenyans access education regardless of their age,
tribal, ethnic, financial and religious background. Education in Kenya is therefore a right to all. To this effect, the
government introduced Free and compulsory primary and secondary education and ensures finances are
disbursed to school accounts. Each school has at least three accounts which include Account Number one
(Simba/Tuition Account) which is specifically for purchasing stationeries like exercise books, writing materials
like pens, pencils, dusters and chalks. Included also are reference materials, supplementary readers, wall maps
and charts. Account numbers known as General Purpose Account caters for support staff wages, maintenance,
repairs, local travelling and transport. It is also the account which caters for box rental, telephone, electricity,
water and conservancy, postage, quality assurance and contingency. The third account is parents’ account where
all money collected from parents and well wishers are paid. This is an indication that schools handle a lot of
money which has created demand for public accountability and better resource management from stakeholders.
School heads should be fully equipped with skills in financial management since they are the accounting officers
in their schools. They are expected to be aware of financial management aspects such as budget preparation,
managing funds, personal emoluments for support staff, and methods for sourcing funds, developing transparent
financial systems, developing a cost-sharing policy and keeping financial records. The principal as financial
managers in a school are responsible for budgeting, implementing budgetary plans, controlling the
implementation processes and reporting the results. In order to fulfill these responsibilities, principals
(Accounting officers) must be competent on financial management and appreciate the element of accountability
educational planning.
2. Concept of financial management
Concept of financial management is an integral part of the overall management. It is concerned with duties of
financial managers in the organization. Financial management is the art and science of utilizing money to
achieve economy and value of the money available. In an organization, financial management is the lifeblood, all
its business activities relies on the finances. It is efficiently using economic resources like capital funds
according to Solomon. It is an integral part of an overall management of the organization. S.C. Kuchal argues
that the most popular and acceptable definition that it deals with procurement of funds and their effective
utilization in the business. Therefore financial management involves the effective and efficient funds
management. Financial management deals and affects other departments like personnel, advertising and
productions. The aim of Financial Management is profit maximization and wealth maximization. To achieve
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ISSN 2222-1735 (Paper) ISSN 2222-288X (Online)
Vol.5, No.25, 2014
these two objectives requires effective procurement and efficient use of finances. The purpose of any business is
to make as high profit as possible. The amount of profit made in a business portrays the growth and the business
efficiency which can be used to predict the future and lifespan of the institution or the business, increases the
profitability in all possible ways and reduce the risk of the business. Wealth increase and maximization is a new
tactic, which deals with latest innovations and improvement in the world of business. This is as far as
shareholder’s wealth and the wealth of the members of the business is concerned.
Since the target of any business is to increase profit, create wealth maximization and improve the value
of the shareholders, that considers the value to cost associated with the business as an area of concern. Total
value detected from the total cost incurred for the business operation, provides extra value of the business
concern. In a learning institution, profit and wealth maximization means utilizing resources in order to attain
highest expected performance and maintain high student enrollment a school. Finance is the lifeblood of a school.
Every learning institution like any other organization must ensure that business has constant and adequate money
for smooth running of its operations and sustain it carefully in order to achieve its goals.
3. Financial Management concept in school.
The concept of financial management in a school includes accounting system of a school whose aim is to
provide prudent control and proper accountability of all funds received in a school. Its mandate is to provide
accurate, current and complete disclosure of the financial status of a school. School management has
responsibility of providing and maintaining true and clear record which exhaustively identifies the source of
school funds. Some of the important information contained in such records includes the allocation of funds to
various school needs and usage of funds collected in the school. There are also books of accounts where daily
transactions of the school are entered. They include among others journals, ledgers, balance sheet and trial
balances. Cash book, trading account and profit and loss account are vital in financial management in a school.
They give clear picture to the management on income and expenditure, capital and liabilities of the school. The
head of the school, the principal should be aware of all those financial documents so that he/she monitors the
recording done by the school bursar and give advice where need arises. Such records should indicate activities
which are sponsored and contain information on school’s award system. In the course of discharging their duties,
if all the above books are not well prepared and monitored, the Principals may register poor performance in
financial management as a result of employing less qualified accounting staff that maintain poor records and
who fail to adhere to accounting procedures (MOEST, 2007)
Kenyan schools are served with ministerial guidelines on the vote heads and allocation of funds.
However, individual schools are at liberty to deliberate on school needs and prioritize them and manage the
funds according to the agreed projects depending on the available resources but must be within the ministerial
policy. Schools organize and manage their funds according to the population of students, infrastructure,
leadership and staffing. They also use autonomy and participation in co-curricular activities. Financial
management in a school sets up a system for efficient control and effective accountability of financies, assets and
other school properties. It is the responsibility of the school authority to safeguard school assets and ensure they
are used solely for authorized purposes. The system has laid down policies to guarantee timely and authorized
transfer of money when they are genuinely needed even if it means doing so through electronic methods.
Success of any school depends on efficient and effective management of finances. All stakeholders in education
participate in managing finances and in financial decision making especially in identifying the possible sources
of school finances such as fees from parents, harambee, donation, sponsors, and school farm. They are also
involved in identifying the needy students from poor families for bursaries which is a social justice and a social
responsibility. They ensure accurate and auditable records are kept for clear audit trail as required by cash
management regulations. The principal ensures that proper filling system is clear and updated often. It is the
responsibility of the financial management to ensure timely internal and external financial reports are discussed
and SWOT analysis done on the same for the development of the school. In other words financial management
in a school is a school-wide responsibility. For this network of responsibilities to succeed, co-ordination,
planning and organizing of the school needs, prioritizing the needs and delegating duties to various offices in a
school is of paramount importance.
In a school, stakeholders participate in financial management in such responsibilities as Monitoring
and evaluation, credit control and auditing of financial records. This duty is assigned to the Board of
Management, principal, finance manager and school management committee. Preparation of the financial
records, understanding the sources and uses of finances and mobilizing for finances is a duty for Parent-Teacher
Association (PTA), Parents, Principal and B.O.M. While planning, budget preparation and implementation,
allocation of money, financial reporting and disclosure of accounts is the responsibility of the school bursar,
budget committee Principal and BOM. Ensuring legal policies on procurement and tendering are adhered to,
safeguarding school assets from loss or unauthorized use and ensuring school finances are administered correctly,
is solely the work of the principal and the BOM. There are two key offices in a school which plays a great role in
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ISSN 2222-1735 (Paper) ISSN 2222-288X (Online)
Vol.5, No.25, 2014
financial management; the principal’s or CEO’s office and the school bursar’s office. The ultimate responsibility
for the school’s finance lies on the principal although powers and responsibilities are delegated to other offices,
the leadership, guidance, financial skills, expertise and the CEO support , the principals are crucial to successful
management of the school money.
4. Why principals’ financial management concept is required in a school.
Financial management being the process of planning and utilization of school funds economically and for the
intended purposes, the ministry of education should provide policies and procedures, rules, regulation and
guidelines on how best the school funds can be planned for, deposited, withdrawn and pay for goods and service.
This will ensure money is spent for the right purpose. Financial management is required and it is critical in a
school in order to instill good governance, accountability and transparency in dealing with public funds. It
enlightens the stakeholders in ensuring that resources allocated to the provision of education are used for the
intended purposes effectively and economically. The management of funds disbursed to schools is the
responsibility of the school. Effective financial management will ensure that procedures used are transparent
which will minimize or eradicate corruption and fraud practices in schools. Stakeholders will be keen in their
responsibilities in sourcing for school funds, planning, budgeting implementing and evaluating utilization of
resources for development of their school. There has been change of roles of principals in Kenya since the
introduction of Free Secondary education. The principal is the chief accounting officer who plays the role of a
teacher, a bursar, a secretary to the BOM. Financial management will ease the duties and responsibilities of the
principal by supporting and delegating some of the duties. Schools are free to set up Financial Management
system to control and account for all school funds, produce reliable and complete disclosure regarding finances.
Financial Management in a school is crucial since the schools receives a lot of funds from various sources and
requires to be planned to avoid wastage and misappropriation of funds. To this effect, school will draw up a
budget, set objectives, identifies the sources in terms of human resource, time allocation, teaching/ learning
materials and appropriate costing. Consequently, the school will ensure proper monitoring and supervision as the
budget is implemented. Different people will play different roles such as controlling the school budgets and
mobilizing financial resources. Financial records will be a true reference of how money is utilized and shows the
figures in the bank account and cash at hand.
5. Financial management in secondary schools in Kenya.
Principals in secondary schools in Kenya are key players in implementing the curriculum and sustaining learning
institutions. Principals are involved in managing all school financial activities, which includes sourcing of
resources, disbursement of funds, allocation of funds in various school projects and accounting for money which
is utilized. According to Orlosky (1984) financial management determines the way the school is managed and
achieving its objectives. In secondary schools in Kenya, it is the duty of the principal to ensure budgeting,
accounting and auditing functions are carried out effectively as required by the Ministry of Education. The
government of Kenya disburses Grants in Aid to secondary schools as a way of financing secondary education
which is a right to all students. Parents are required to pay other costs apart from tuition fee. This enables
students from humble backgrounds access basic education (Republic of Kenya, 2005)
The funding in secondary school is done according to each individual school, its characteristics and
enrolment. Money is credited in both Accounts number one (Simba account) and Account number two,
Operational account). It is the work of the BOM to plan and authorize the spending of the funds but in
consultation with the county director. Schools managers consult in financial decision making in relation to the
procurement procedures as laid down by the Public procurement and Disposal Act, 2005.
Secondary schools are allowed to control and plan on how to utilize the huge amount of money which
is delegated to schools. As a result, principals responsibilities increases and challenges the level of competence
in managing school finances which is essential to the efficient operation of the funding system.
Once the allocation of each individual school is determined by the Ministry of Education, the school
reserves the right to control and use its funds. Government delegates authority to principals in relation to how the
school’s budget is spent, which includes staffing resources. Drawing up a school budget is a mandatory
responsibility of the stakeholders. It is a legal requirement as stipulated in the education Act Cap 211.The cash
receipts must be from sources approved by the ministry.
6. Financial Management versus competence issues in schools in Kenya.
Competence issues in financial management includes among others training and professional knowledge in
finances, experience acquired to manage finances, interpretation of financial policies and financial decision
making in a school. It also involves information analysis as in the case of audit report, preparing and managing
school budgets, effective communication and mobilizing financial resources.
Success of any organization depends on efficient and effective management of finances. The general public
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4. Journal of Education and Practice www.iiste.org
ISSN 2222-1735 (Paper) ISSN 2222-288X (Online)
Vol.5, No.25, 2014
demand accountability and transparence of funds collected and spent by school managers. The task requires a
person of high integrity in the profession with a right training and skills of handling money, wide knowledge in
specific areas like practices and concepts of financial management, risk analysis, debt management and ability to
keep current with school developments.
The last two political regimes transformed education system in Kenya. As such, the enrolments in
basic education increased enormously. Free education especially brought great changes whereby the government
disburses money for each student to individual schools. This increases and changes the roles and responsibilities
of the school principal. Smilanich in Dimmock (1994) reports that the principal has the unenviable task of
arbitrators of soliciting the needs and wishes of staff and community and being the final authority on planning
decision as reflected in the proposed budget. The principal is a superintendent of schools at school level. The
concern is where the added financial responsibility affects the normal and obvious duties of a principal. Cited in
Dimmock (1993) the Sheffield City Polytechnic (1986) evaluation of delegation in Lincolnshire, based on
interviews with the seven pilot school principals, found “All seven principals agreed that the scheme had
increased their workload and changed its pattern. As one principal put it, I spend considerable amount of time on
matters not strictly educational………… Four principals commented that this change in role meant less contact
with students and staff………….”
Principal’s attitude on the added duties and tasks in financial management affects the way he/she
responds to those challenges. According to Levacic (1995), the new tasks of budget management, encompassing
financial reporting and budget setting, are the most transparent and obvious of the changed role of the school
principal. The school principal is obligated to implement, monitor, supervise and control the budget as soon as
the budget is approved by the appropriate authorities in order to achieve the objectives. This task requires wide
knowledge in finances and extra commitment. The principal works closely but independent from finance officer
(bursar). The bursar’s role is to verify financial transactions as per the financial regulations. Controlling school
budgets requires the principal to have a thorough understanding of the financial status of the school and its
priorities for the expenditure. It involves controlling the votes and ensuring votes are not spent and that money
received is put under the appropriate vote headings.
In any school, mobilizing financial resources remains and requires a person of big brain and of wide
networking systems since resources are scarce and are never enough. These resources include finances, material,
time and human resource. If there are no funds, no plan can be implemented. Mobilization of funds also
considers the availability of finance, budgetary prioritization in a school, the distribution and use of financial
resources and possible extra budgetary source of financing.
7. Accountability issues in Financial Management.
Accountability is a very recent found term mostly used in day to day’s administrative policy as well as public
law, theory and practice. Accountability originates from financial accounting. It is a tool for tracking records and
monitoring books of accounts and evaluating the way school money is spent. Accountability pre-supposes the
behavior of the two main actors- an accountee, who is responsible to give answers and justify his/her decision.
The other one is an accountor who has the obliged to ask questions, get explanations and justifications.
Accountability of money deals with stewardship for the honesty in using money belonging to the
public. It guarantees the public that their money has been used in a responsible and profitable manner as intended.
It verifies, legalizes and regulates financial accounts. It ensures school that resources gains or adds value to it. In
financial management accountability in an institution depends on internal and external control aiming at
improving results. It reinforces transparency of money in all the public offices and institutions. Accountability
has various activities which includes financial accounting and reporting, accounting controls, procurement
controls, physical controls, performance measurement and internal audit. Once the money authorized has been
spent, it has to be accounted for and subsequently audited. There are two key accounting techniques relevant for
current public sector: cash and accrual accounting. Under cash, transactions and events are recognized when cash
is received or paid. There is no accounting for assets and liabilities. Accrual based systems recognize transaction
or events at the time economic value is created, transformed, exchanged, transferred or extinguished and when
all, not only cash flows are recorded.
Conclusion
To enable the principals do work with better precision, it would be very crucial if they would continuously boost
their own professional development by acquiring relevant financial skills and abilities required to effectively
manage resources in the school. The principal in return should identify where to find support and learn to accept
criticism on how finances can be managed. The principal’s professional aspects should be evident while
discharging their daily duties. This should be seen as they plan, control and monitor the school finances
throughout financial management and in budgeting, accounting and monitoring effective implementation of
school budget. The criteria for appointing the principals of schools should be reviewed in order to meet the signs
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ISSN 2222-1735 (Paper) ISSN 2222-288X (Online)
Vol.5, No.25, 2014
of the time and the challenges in managing bulky money in schools and monitor books of accounts. One of the
requirements should include at least a certificate or a diploma in financial management.
In view of the above, there is lack of professionalism in the management of school finances and this call for
qualified personnel in the management of the finances. It is important for school administration to realize that
school management goes beyond allocating cash items but has to look at school as an investment which would
pay dividends to the investor.
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