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Effective School Financial Management

The document discusses financial and resource management in schools. It explains that effective management ensures quality education by providing resources. A proper balance of expenditures on teachers, instruction, management, and students is important. The document also discusses defining authority limits, following budgets and plans, transparency, and adapting to changing situations as aspects of good financial management.

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Ma Elsa Verano
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27 views1 page

Effective School Financial Management

The document discusses financial and resource management in schools. It explains that effective management ensures quality education by providing resources. A proper balance of expenditures on teachers, instruction, management, and students is important. The document also discusses defining authority limits, following budgets and plans, transparency, and adapting to changing situations as aspects of good financial management.

Uploaded by

Ma Elsa Verano
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Ma. Elsa L.

Verano MA-EDLM 702: FINANCE and RESOURCE MANAGEMENT

Reflection Paper

Financial and resources management in school is the most vital realm, the effective dealing of which
ensures the promotion of education quality achieved by the provision of resources. Educational
expenditures are considered as investment, which forms one of the tangible inputs. Cost-benefit
analysis can be used to identify its effectiveness. A proper ratio of expenditures can be maintained by
keeping a balance between spending on teachers and instructional processes as well as expenditures on
management and pupils. The financial category includes revenues, grants, expenditures, and the use of
funds. The financial aspect of schools also merits consideration as the allocation of funds and its proper
utilization on students’ learning enhance the internal efficiency of schools. But unfortunately, a meager
amount is allocated, annually, to schools and that is not adequate to help promote the efficiency of
schools if taken recklessly, but with the support of the local partners , strategic planning and good
financial resources management we can still enhance learning of students.

What is then good financial and resources management? For me, I make it a point that the finance
committee should have clearly defined limits of delegation authority; budget should reflect on the
school priorities on educational objectives, I must make sure to achieve the efficient use of funds and be
subject to regular, effective financial monitoring; school follows what is stated in the annual
implementation plan to ensure reliability and accuracy of its financial transactions; all purchases comply
with good accounting practices; all school assets and properties are recorded and keep on safety places
against loss or theft or damage; school fund is a public funds, thus, transparency is the key in all
transactions.

Financial Management is simply following on our plans (through not stable for the current situation),
allocating funds for school priorities, and keeping accurate records, or documents, related to these
expenditures.
As school managers, or overseers, we may be on the verge of uncertainties, shift of events
happens so fast, we must be always ready and foresee what lies ahead to keep track of our
mission vision and core.

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