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  • Fiscalmanagement

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    Neil Villas
    16 views12 pages
    Budget management in schools involves procuring and allocating funds, monitoring their use, producing financial reports, and ensuring compliance with financial regulations and procedures. Key principles of budget management are transparency, competitiveness, accountability, and prioritizing essential expenditures while prohibiting certain expenses. The document outlines the tools and steps used to efficiently plan and manage a school's budget.

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    Budget management in schools involves procuring and allocating funds, monitoring their use, producing financial reports, and ensuring compliance with financial regulations and procedures. Key principles of budget management are transparency, competitiveness, accountability, and prioritizing essential expenditures while prohibiting certain expenses. The document outlines the tools and steps used to efficiently plan and manage a school's budget.

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    16 views12 pages

    Fiscalmanagement

    Uploaded by

    Neil Villas
    Budget management in schools involves procuring and allocating funds, monitoring their use, producing financial reports, and ensuring compliance with financial regulations and procedures. Key principles of budget management are transparency, competitiveness, accountability, and prioritizing essential expenditures while prohibiting certain expenses. The document outlines the tools and steps used to efficiently plan and manage a school's budget.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 12

    Reporter: Eloisa A.

    Rivera
    -is the process of keeping
    an organization
    running efficiently
    within its allotted
    budget.
     “seeing to it that the school has funds it
    requirestomeetitsgoals
    andthatsuchfundsare
    usedforthepurposesfor
    whichtheyweremeant.
    To improve the way the department operates by
    properly planning, recording, and
    performing procedures that relate to the
    budget.

     This involves a variety of tools, including


    budget spreadsheets, accounting, and guides
    outlining procedures for department
    management.

    The procurement of funds
     Allocation of funds

     Monitoring their use in the interest of


    accountability

     Producing financial reports for the relevant


    stakeholders
     All financial regulations and procedures are
    complied with

     All financial transactions are recorded


    accurately

     Adequate controls are in place to ensure that


    expenditures do not exceed income
     Only authorized expenditures are incurred
    Principles:

     Transparency
     Competitiveness
     Procurement Process
     System of Accountability
     Public Monitoring
     Priority Expenditures
    1. BASIC UTILITIES
    2. OFFICE/SCHOOL SUPPLIES
    3. MINOR REPAIRS
    4. OTHER SUPPLIES
    5. SALARIES FOR JANITORIAL AND SECURITY
    SERVICES
    EXPENSES FOR THE FOLLOWING IS NOT ALLOWED:

    1. PROCUREMENT OF TEXTBOOKS
    2. OTHER INSTRUCTIONAL MATERIALS
    3. SCHOOL FURNITURE
    4. EQUIPMENT

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