FINANCIAL MANAGEMENT IN SCHOOLS

The dynamic nature of the society and its effects on the educational system from an ineffective one-teacher school to a much larger centrally controlled, but inefficient overlapping bureaucracies has forced a recognition of the school financial management function as an integral part of the operation of the modem educational system. This paper explores the acquisition of funds in schools, fund allocation and utilization practices. In an attempt to these issues bothering school finance, budgeting and accounting were discussed. They are required activities in the school system in providing reliable fiscal information, guidance, and accountability in the management of fiscal resources allocated to schools