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Financial Management in Education

This document is the course syllabus for "Financial Management and Budgeting in Education" taught by Dr. Renz Catherine G. Domingo at the University of Caloocan City Graduate Studies program. The syllabus outlines the following key topics that will be covered in the course: [1] the importance of financial management in educational institutions; [2] the roles and responsibilities of school administrators in financial management; [3] financing education as an administrative function; and [4] issues and challenges around budgeting, accounting, auditing, and ensuring transparency and accountability in educational finance. The goal of the course is to teach students the skills needed to properly plan, manage, and execute financial procedures in educational organizations.

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Daniel Magno
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369 views4 pages

Financial Management in Education

This document is the course syllabus for "Financial Management and Budgeting in Education" taught by Dr. Renz Catherine G. Domingo at the University of Caloocan City Graduate Studies program. The syllabus outlines the following key topics that will be covered in the course: [1] the importance of financial management in educational institutions; [2] the roles and responsibilities of school administrators in financial management; [3] financing education as an administrative function; and [4] issues and challenges around budgeting, accounting, auditing, and ensuring transparency and accountability in educational finance. The goal of the course is to teach students the skills needed to properly plan, manage, and execute financial procedures in educational organizations.

Uploaded by

Daniel Magno
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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UNIVERSITY OF CALOOCAN CITY

GRADUATE STUDIES

Financial Management and Budgeting in Education

MAED 4 -220B

Dr. Renz Catherine G. Domingo


January 19, 2021

i
INTRODUCTION

Financial management is one of the most fundamental practices in any enterprise

or business including schools and other educational institutes. Financial management

essentially means planning, organizing, directing and controlling the financial activities

in schools so that the financial resources are used in an efficient and effective manner.

Financial management ensures that the administration and management team are able to

manage the budget in a better manner and make informed decisions related to the school

budget.

As an aspiring school head or teacher that has capability to handle a school or an

organization must have a skill that is able to plan, manage, and execute proper procedure

in handling finances.

Finance is considered the backbone of any school operation. Thus, this area must be

handled with transparency, freedom, and access to information.

In this course, Financial Management and Budgeting in Education, we learned

about the importance of leadership, transparency, honesty, responsibility and

accountability. Greater power comes with greater responsibility this is what the course

taught us.

ii
ACKNOWLEDGEMENT

The students of MAED 4th are very grateful to ALMIGHTY GOD for without His

graces and blessings this accomplishment report will never be possible.

Immeasurable appreciation and deepest gratitude for the help and support are also

extended to the following persons who in one way or another have contributed in making

this accomplishment possible.

Dr. Renz Catherine G. Domingo, our professor in Financial Management and Budgeting

in Education, for her support words of encouragement and endless reminder for the things

that we must accomplish.

Dr. Melchor S. Julianes, dean of graduate studies, who accepted all of us and believed in

our capabilities and knowledge, for without your assessment we will not be here.

University of Caloocan City, our school, our home, for making all the learnings possible

without this institution there will be no new learnings, no new colleagues and no new

friends.

The members of this class who contributed their knowledge in making this compilation

possible, all the sharing that we made and the support that we gave to each other, this

assignment couldn’t be completed without the effort and cooperation of our group

members.

Last but not the least we would like to thank our family and friends for their constant

source of inspiration.

iii
TABLE OF CONTENTS
TITLE PAGE

Definition/Overview of Financial Management 1


The School Administrators - Qualities, Jobs & Functions 8
Financing Education as an Administrative Function 15
Problems and issues in Financial Management 21
MOOE- Comparison and Contrast: D.O.No.9 S,2019,
D.O No. 8 S, 2018and D.O No.13 S, 2016 29
SEF and Others 41
Transparency and Accountability in Finance Management 59
Public Financial Management Reform for Efficiency, Accountability,
and Transparency of Public Funds 66
Budgeting, Accounting and Auditing of Financial Resources,
Issues and Problems 72
Basic Principles in the Administration of School Finance 80
School Accounting and Auditing Procedure and
Principles of Accounting and Auditing 86
Issues and Problem in Budgeting, in Accounting and Auditing Functions 97
Definition and importance of School Budgeting
Advantages and Disadvantages of school budgeting
and Limitation of budget 104
DO 60, S.2016 110
Financial Management Operations Manual 116
Revised Implementing Guidelines on the Operation and
Management of School Canteens in Public Elementary and Secondary 122
Department of Budget and Management 127

iv

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