FINANCIAL MANAGEMENT IN SCHOOL
Activity 2 for FINANCIAL MANAGEMENT IN SCHOOLS
Make a research on governance and accountability in handling the finances of the school. Then assume you are the principal or school head and answer the following questions below.
1. What is the role of governance and accountability in the general expenditures of the school?
As stated in Sec. 5 of Republic Act 9155, shared governance is a principle which recognizes that every unit in the education bureaucracy has a particular role, task and responsibility inherent in the office and for which it is principally accountable for outcomes. Since public office is a public trust, the head of any office plans, appropriates and spend available resources subjecting to usual accounting and auditing rules since this counts on the head’s accountability. This also checks whether the funds are judiciously spent in every area.
2. What are the main problems and pitfalls for principals/school heads when dealing with governance and accountability?
Setting priorities is one problem of the principals when dealing with governance and accountability. With so many reports to be accomplished and so many worn out facilities to be improved, funds are often misspent.
Another is lack of proper planning. Some principals do the planning all by him/herself without consulting other members of the stakeholders. Since they are members of the organization, they should be involved.
3. What else should be in the school’s finance policy?
Financial reports must be prepared every month in every available fund that the school is receiving whether it is downloaded or generated. Canteen reports must be checked by the school auditor before submitting them to the Division Office. For the Maintenance and Other Operating Expenses (MOOE) , the reports must be signed by the disbursing officer, the supply officer and the head of the office.
4. How can I involve other stakeholders like faculty, parents, community, LGUs
Make a research on governance and accountability in handling the finances of the school. Then assume you are the principal or school head and answer the following questions below.
1. What is the role of governance and accountability in the general expenditures of the school?
As stated in Sec. 5 of Republic Act 9155, shared governance is a principle which recognizes that every unit in the education bureaucracy has a particular role, task and responsibility inherent in the office and for which it is principally accountable for outcomes. Since public office is a public trust, the head of any office plans, appropriates and spend available resources subjecting to usual accounting and auditing rules since this counts on the head’s accountability. This also checks whether the funds are judiciously spent in every area.
2. What are the main problems and pitfalls for principals/school heads when dealing with governance and accountability?
Setting priorities is one problem of the principals when dealing with governance and accountability. With so many reports to be accomplished and so many worn out facilities to be improved, funds are often misspent.
Another is lack of proper planning. Some principals do the planning all by him/herself without consulting other members of the stakeholders. Since they are members of the organization, they should be involved.
3. What else should be in the school’s finance policy?
Financial reports must be prepared every month in every available fund that the school is receiving whether it is downloaded or generated. Canteen reports must be checked by the school auditor before submitting them to the Division Office. For the Maintenance and Other Operating Expenses (MOOE) , the reports must be signed by the disbursing officer, the supply officer and the head of the office.
4. How can I involve other stakeholders like faculty, parents, community, LGUs