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| Financial Management of School Heads in Selected Public Elementary Schools in DepEd Region III, Philippines |
Rolando A. Espiritu, EdD
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Abstract:
This study investigated the financial management of public elementary school heads in Region III in terms of budgeting, accounting, procurement, and asset management. Likewise, it looked into the best practices and problems encountered of school heads in their financial management. As an output of the study, an action plan is proposed. The researcher employed the descriptive-qualitative method of research and involved the participation of seven (7) provinces with twenty (20) Schools Division Offices with their 105 teachers, 105 school heads and 105 district supervisors as research-respondents. The researcher constructed the test which was validated via content validation of the experts which included the researcher's adviser, statistician, Deped officials such as Public Schools District Supervisor, fellow Principals, Senior Education Program Specialists and Division Accountant. Weighted mean was used in describing the financial management of school heads as to budgeting, accounting, procurement and asset management. The Statistical Programming for the Social Sciences (SPSS) software was used to treat the data gathered. Findings of this study revealed that the indicators under accounting and budgeting are categorized as best practices of the school heads in their financial management. These are some of the following: 1) collaboration with grade level chairpersons or school focal persons for budgetary planning; (b) keeping all financial records in safe place. Moreover, delayed release of school monthly cash advances, fund insufficiency, lack of adequate experiences and trainings, numerous bookkeeping tasks, unorganized recordkeeping, frequent changing of policies, absence of permanently stationed bookkeeper, and adherence to complex laws and policies are identified as the most common challenges encountered by the school heads in their financial management. The school heads are advised then to make sure that all stakeholder sectors are represented during any budget allocation activities. They should further familiarize themselves of the simplified fund management systems by reviewing different mechanisms, procedures and standards for the utilization, monitoring and recording of school funds. The data on the problems encountered by the school heads in their financial management provided the basis in proposing an action plan which may be used in improving their level of implementation and in providing a key to more development programs for school heads in the entire region.
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