Management of Fund Utilization Among Public Secondary Schools

Abstract

INTRODUCTION

Management of fund utilization of budget in public schools is a distinguished contributory factor of best accounting practices which measures the transparency to any meaningful socio-economic developmental activities and expenditures of government agencies. The financial aspect of schools also merits consideration as the allocation of funds and its proper utilization of students' learning. Effectiveness on the management of public funds is essential in a day to day transaction in school.

METHODS

The focus of the study is to investigate the efficacy on the utilization of public funds among secondary schools as to how school MOOE was utilized. The study used both the descriptive-correlational method. Participants of the research were school heads and finance personnel composed of Administrative Assistants (ADAS), Budget Officer, Bookkeeper, and Disbursing Officer. The study was participated by 30 school heads and 81 finance personnel.

RESULTS

There is a growing recognition among respondents that demographic profile has a huge impact on a specific study conducted. Schools are to ensure they operate in an operative manner to deliver financial services to their stakeholders. Schools have effective, efficient and economical financial practices and ensure their governance arrangements support effective decision making, planning, and communication with the community. One of the reforms is the transference of responsibilities at the school to manage their operation and resources for school development to develop an environment that facilitates continuous improvement. However, school budget preparation and implementation by the school principals need to be improved to ensure transparency and accountability in the utilization of school funds.

DISCUSSIONS

Budgeting and financial management in many schools nowadays remain a challenge in many schools. It shows that the school head lacks proper training to cope with the implementation and function of the school budget of their schools. Despite School-Based Management, the schools are now are given full authority to implement programs using public funds. In a reformist style of administration, benchmarking is commendable because it will lead the school head and finance personnel to draw best practices on management utilization of public funds. It is recommended to consider the primary needs of learners and teachers in realizing the program of the agency.