Fiscal Management in Education

1. Reporter: Eloisa A.Rivera

2. -is the process of keeping
an organization running
efficiently within its
allotted budget.

3.  “seeing to it that the
school has funds it
requires to meet its goals
and that such funds are
used for the purposes for
which they were meant.

4.  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.

5.  The procurement of funds
 Allocation of funds
 Monitoring their use in the interest of
accountability
 Producing financial reports for the relevant
stakeholders

6.  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

8. Principles:
 Transparency
 Competitiveness
 Procurement Process
 System of Accountability
 Public Monitoring

9.  Priority Expenditures
1. BASIC UTILITIES
2. OFFICE/SCHOOL SUPPLIES
3. MINOR REPAIRS
4. OTHER SUPPLIES
5. SALARIES FOR JANITORIAL AND SECURITY
SERVICES

10.  EXPENSES FOR THE FOLLOWING IS NOT
ALLOWED:
1. PROCUREMENT OF TEXTBOOKS
2. OTHER INSTRUCTIONAL MATERIALS
3. SCHOOL FURNITURE
4. EQUIPMENT