Abstract
M.Ed.
The design and implementation of a financial school policy is an important function of
the School Governing Body. Although every public school designs a financial school
policy, the success of managing the school’s finances effectively and efficiently is
dependent on how the policy is implemented. The aim of this research was to
investigate the role played by the School Governing Body (SGB) and the School
Management Team (SMT) in the design and effective implementation of the financial
school policy.
The impact of the South African Schools Act together with the Norms and Standards
for Funding on state funding, school fees and school fees exemptions were also
explored. The functions of the SGB in respect of financial matters and the role played
by the finance committee emphasizes the devolution of financial matters from the
state to communities.
By virtue of the Schools Act the principal is responsible for the professional
management of the school and together with the SGB is directly responsible for the
effective use of all funds belonging to the school. It is incumbent upon the SGB and
the SMT to take accountability for all their financial activities by being transparent and
responsible in the management of school funds. The design of a financial school
policy and the effective implementation thereof will ensure school funds being
managed effectively and efficiently.
The quantitative research method was used to elicit the perceptions of SGBs, SMTs
and educators with regards to the designing and implementing of the financial school
policy. This research study was confined to primary and secondary schools in the
district D9, D10, D11 and D12 areas of the Gauteng Province. A structured
questionnaire was distributed to members of the SGB, SMT and educators in the
above-mentioned districts.
The empirical study resulted in mean scores of the thirty-two items ranging between
2,63 and 5,34. An analysis of the data revealed that the financial school policy is
central to all financial activities in schools and it must be designed and implemented
by all stakeholders.
Prof. R. Mestry