INTRODUCTION TO SCHOOL FINANCE

Why this course is so important?

There is an increase number of school with fiscal
autonomy, and the advent governments
approach of School Based Management
processes, School Heads must understand the
basics of financial management.

INTRODUCTION TO SCHOOL FINANCE

What will you learn from this module?

Define School Finance and identify its four
Phases
Identify the legal bases and state the roles of
School Heads in School Finance
Enumerate the module coverage and clarify the
use of each module to manage school finance

INTRODUCTION TO SCHOOL FINANCE

INTRODUCTION TO SCHOOL FINANCE

WHAT IS SCHOOL FINANCE?

refers to the school-based financial management
system.
deals with managing the school financial resources
to support the goals developed by the school to
increase student learning outcomes.

INTRODUCTION TO SCHOOL FINANCE

School Finance also involves:

financial planning based around the School Improvement
Plan (SIP) and what we want to achieve in our school.
implementation of financial policies and procedures
applicable to public elementary and secondary schools. It
supports divisional and regional development strategies
and plans.

FOUR PHASES OF SCHOOL FINANCE

1. Planning

Goal Setting
Developing the planning premises
Review limitations
Deciding the planning period
Formulation of policies and strategies
Preparing operating plans
Integration of plans

Failing to plan is planning to fail

Source: http://www.preservearticles.com/201106168040/what-are-the-steps-involved-in-planning-process.html

FOUR PHASES OF SCHOOL FINANCE

2. Budgeting
- process of relating the expenditure of funds in a
systematic way to the achievement of the planned
mission and objectives of a school.

2 important things to consider in Budgeting:

Where the fund comes from?
What are the immediate needs of the
school based on the level of necessity or
priority?

FOUR PHASES OF SCHOOL FINANCE

Stages in making School Budget

1. Identification of programmes, projects or activities
you wish to accomplish in the budget period.
2. Identification of the resources
3. Costing of the resources
4. Presentation of the budget as per budgetary
guidelines formulated by the government or
funding agencies.
5. Obtaining approval of the budget by the
authorities.

http://library.unesco-iicba.org/English/Better_Schools/Better%20Schools/MODULE5/module5_unit2.htm

FOUR PHASES OF SCHOOL FINANCE

3. Implementing
- the process of realizing or executing the plan.

The steps of implementing a (strategic) plan

Evaluate the (strategic) plan

Create a vision on how to implement the (strategic) plan
Select a person or personnel to help implement the (strategic) plan
Schedule meetings to discuss progress reports
Involve the upper management where appropriate.
http://smallbusiness.chron.com/implementation-process-strategic-plans-4514.html

FOUR PHASES OF SCHOOL FINANCE

4. Evaluating
Identifies the successes of the
current plan
Identifies the needs in the next
years plan

Evaluates and adjusts the plans

progress throughout the year

A Technical Assistance Document For: Planning and Evaluating Your School Improvement Process

THE PROCESSES INVOLVES IN SCHOOL FINANCE

1. Secure the following documents from DepEd Regional Office:
Regional plan
Schedule of Personal Services (PS) and Maintenance Operating and Other
Expenditures (MOOE)
2.

Based on secured documents, prepare school plans to include:

Performance measures/specification of major final output with quarterly
performance targets
Budget proposal

3.

Seek approval for plans and budgets

4.

Implement approved plans and budgets

5.

Record, monitor, and review performance