FINANCIAL MANAGEMENT ON EDUCATION_ A FRAMEWORK FOR BUDGETARY AND FINANCIAL CONTROL - UNIVERSITY OF THE PHILIPPINES College of Education Educational

FINANCIAL MANAGEMENT ON EDUCATION_ A FRAMEWORK FOR BUDGETARY AND FINANCIAL CONTROL

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UNIVERSITY OF THE PHILIPPINES College of Education Educational Administration Department EDUCATIONAL FINANCE: A Framework for Budgetary and Financial Control Marlon Paclibar Lising 2012
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ABSTRACT Title: FINANCIAL MANAGEMENT ON EDUCATION: A FRAMEWORK FOR BUDGETARY AND FINANCIAL CONTROL Researcher: MARLON PACLIBAR LISING Degree: Doctor of Philosophy in Education Major: Educational Administration The onset of the new epoch has created a tremendous impact on the academe. Nevertheless the varying trends affecting the educational institutions brought into a realization of the greater need for educational reform. In the context of the scope of the governance of educational outcomes, administrators must adhere to the following indicators – pertaining to transparency and accountability, education service provision standards, management control systems, management information systems and efficient resource use. Amongst the indicators, the researcher focused on the financial and budget controls which are indicative of the management control systems and efficient use of resources as well. A situational analysis gave rise to the promotion of financial governance which reflects the utmost integrity among the school administrators and its stakeholders. As this research intends to design a finance and budget control framework and disseminate knowledge on the current use of management techniques in educational finance among administrators and managers of educational systems and institutions, this document was prepared in partial fulfilment of the requirements in EDAD 311 – Seminar in Management Controls of Educational Institutions.
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ACKNOWLEDGEMENT I thank God, the Father Almighty, through His Son Jesus, for the completion this paper. The Lord has granted me the strength I needed to accomplish this task. He has blessed me with people whom I have found inspiration and guidance in this endeavor.
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DEDICATION To the one whom I cherish most. You were my inspiration, challenge, and encouragement all the way through this endeavor.
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TABLE OF CONTENTS Page TITLE PAGE .............................................................................................................. ABSTRACT ................................................................................................................ ACKNOWLEDGEMENT ................................................................................................... DEDICATION ................................................................................................................ TABLE OF CONTENTS ..................................................................................................... Chapter 1 THE PROBLEM AND ITS BACKGROUND ..................................................... 2 REVIEW OF RELATED LITERATURE AND STUDIES ........................... 12 3 METHODS OF STUDY AND SOURCES OF DATA ..................................... 21 4 PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA ..... 24 5 SUMMARY OF FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS ............................................................................... 34 BIBLIOGRAPHY ...........................................................................................................
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Chapter 1 THE PROBLEM AND ITS BACKGROUND Introduction The development of budgets and management of finances for education is the principal responsibility of the education and finance departments of any country. Among the primary tasks of the administrators involved include the assurance that adequate financial resources are mobilized and effectively managed to meet the needs of all learners and to work toward the long- term financial viability of a reconstructed educational system – one with sufficient inputs that is sustainable and transparent. 1 Kennedy (1998) delineated the primary function of financial management. As this aspect
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