FINANCIAL PROBLEMS IN PROFESSIONAL EDUCATION

INTRODUCTION:

Most of us know when we hit a financial disaster, usually we can even

trace the beginning of the process that led to the financial failure, but the problem
seems to be the fact that some people keep repeating the mistakes, or adapting
new problematic methods of trying and solving problems.

The amount and quality of nursing services depend on budgetary plans,

nurses should become proficiency will provide the resources necessary for safe
and effective nursing care. With limited resources and competitive market,
personnel and material resources need to be used wisely and efficiently.

DEFINITIONS:

A budget is an estimate of future needs, arranged according to an orderly

basis covering some or all the activities of an enterprise for a definite period of
time.

-TN.Chhabrar

Budgeting is the formulation of plans for a given future period in numerical

terms.

-Harold Koontz

The budget defines the limits of financial support for the educational
institutions; therefore it controls the scope and quality of the instititutional
programs.

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PRINCIPLES OF EDUCATION FINANCE:

1. All allocation of funds to education should be determined by the

educational budget and priorities to various sectors should be made within
the sphere of education itself.
2. Improvement of education should be made with in the financial and human
resources available in the country.

3. Through careful analysis, trends in economy, allocations should be made

to important educational sector in accordance with the projected man
power requirement.

4. Education cannot be purchased like a commodity according to the desire

of the individuals, who can pay the full cost. Attempts should be made to
provide education free or at a much lower cost.

5. Education should be duty financed to provide equality of opportunity for

the development of the individuals.

6. For democratization of educational opportunities in our country, large

number of scholarships, stiphands and free studentship should be given to
the students.

7. Special grant for physical activities, libraries, and reading rooms,

expenses on special programmes like midday meals, etc should be given.

8. The allocation of funds to education purely from the economic point of

view should be decided by the future needs of skilled manpower in various
sectors of national life.

BUDGET AFFECTS:

 Personal policies which determine the quality and size of faculty and
thus the quality of instruction.

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  It determines the amount and type of equipment, library and laboratory
resources.

 Physical facilities and other resources that will be available for

instruction and research.

FINANCIAL PROBLEMS IN PROFESSIONAL EDUCATION:

1. The budget gives direction, it makes it possible for dean and departmental
chairman to plan a program with a reasonable amount of assurance that
each will be able to carry out the programmes of his respective unit.
2. The nurses’ administrators have responsibility for the preparation and
administration of the budget of the nursing unit. This budget is set in a
form similar to that of the college, therefore the administrator should have
an understanding of her responsibilities in the processing of a planning,
construction and administrator of the institutions budget.

3. One of the major problems institutions face today is finance. As an integral

part of an institution of professional education, the nursing unit faces the
problems of finance that confront the college.

PROBLEMS:

Institutions of professional education are always short of funds. The

budget controls the quality of instruction. It also represents the goals and
aspiration of he institution. The institution has funds to support its programs and
projects, it cannot attain objectives. Few colleges can finance themselves on the
basis of money collected from tuition fees alone.

Increased income is needed in institutions of professional education in

order to improve the quality of instruction and to improve quality of faculty.

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 1. Inflation has attached the value of endowment funds they are inexpiable,
educational services have expanded, particularly in research. Research is
increasingly becoming a pre occupation of universities.
2. Graduate and professional programs and research activities are very
expensive forms of education. Cost accounting may help colleges to
determine the cost of education and also help them determine whether
they can afford to offer certain types of programmes.

3. Fluctuating enrollment is a problem but the fluctuation trend has been

upward since the early fifties.

4. The educational policies commission, recommends attracting

outstandingly able students.

5. Professional school are expansive, education institution have need for

enlarged and modernized capital plants in order to cope with increased
enrollments to improve methods of instruction and the experiment with
teaching methods in hope of finding more effective methods of taking care
of increasing enrollments in the face of a teacher shortage.

6. Perhaps the uncertainty of the sources of income is the most urgent single
financial problem in institutions of higher learning.

7. Student fees as the sole source of income or college are inadequate.

8. Multiple sources of income must continue to be considered in order to

finance higher education.

It is the evident that institutions of professional learning are always short of

money. Hence it becomes a problem of allocating moneys among the various
divisions of the college and other competing requests. The budget affects the
educations programme of the institution and these institutions policies, methods

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of the institution and these teaching, research, number of faculty which can be
employed to carry on the work of the institution and many other facets.

COSTS IN NURSING EDUCATION:

School of nursing requires a separate budget. It depends on the type of

the controlling authority. The items which have to be budgeted for an average in
a school of nursing would be:

- Salaries of professionals, clerical, housekeeping, domestic, security etc.

- Student stipend.

- New equipment, furniture, audio visual aids.

- Repair of equipment.

- Linen and furnishing.

- Office supplies (Stationary and Postage0.

- Library books and magazines.

- Contingencies.

It is most unfortunate to note, that as per the conclusions from the report of
the high power committee an nursing and nursing profession.

The school of nursing in the country provides a grim picture. Almost all the
schools have no budget for nursing education. The practice of using nursing
students labour still continues. Even today, nursing services provided by the
students is in the range of 70-80% by paying meager stipend from Rs. 4 to Rs.16
per day. The expansion of using education programmes has not been as per
requirements form time to time, with the result that even today one nurse is
available for 100 patients at night in many hospitals.

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SUMMARY:

So for we have discussed about definition of budget, budget affects,

financial problems in professional education and costs in nursing education.

BIBLIOGRAPHY:

1. Barvara Parker and Joan, “Economic issues in health conceptual

foundation of professional nursing:, l7th edition, Mosby Publication, 1971.
P.p: 107-126.
2. Park. K, text book of preventive and social medicine”, 17 th edition, 2002,
P.p: 638.