Best Practices of Public Secondary School Heads Along Financial Management

Republic Act No. 9155 of 2001 grants all school heads of the Department of Education in the Philippines the authority to administer and manage all personnel, physical, and fiscal resources of the school. The fiscal management practices of school leaders ensure the efficient and effective use of resources to support the goals of the institutions. Hence, this study explored the financial management practices of secondary school heads along financial management, specifically along fund sourcing, budget allocation, procurement, liquidation, and disbursement. This study used meta-synthesis to analyze the qualitative data obtained from the informants through interviews. This qualitative study employed a case study as its research method. Utilizing this design will provide information about the experiences, difficulties, and strategies encountered by the school head in managing the school’s financial resources. The results of the study implied that the key informants were best at outsourcing funds and complete, accurate, reliable, and on-time reporting of financial resources. This is attributed to the compliance of school heads with the accounting and auditing rules and regulations. The principal’s transparency was considered a crucial element, as a school leader and their finance team had strategies for budget planning and utilization. Moreover, school heads’ adherence to accounting rules and regulations guaranteed efficient and effective financial management. These best practices of the school heads served as their commitment to upholding effective and efficient practices when it comes to financial management in school.