Course Requirement in

FINANCIAL MANAGEMENT OF EDUCATIONAL INSTITUTIONS

(ED606)

NARRATIVE REPORT

Submitted by:

Bernarte, Elmalyn P.
MAED
1 Semester S.Y. 2018-2019
st

Submitted to:

Mr. Wernan C. Peralta

Instructor
The School Administrator: Qualities, Jobs and Environement
A. The School Administrator as FINANCE MANAGER

The school administrator as finance manager has big responsibilities regarding financial aspect of the
school. As a finance manager, the principal must be responsible in Keeping Accounts and Records. He should
update financial records by documenting each transaction, and processing invoices and orders. He ensures that the
school's accounts conform to standard principles of governmental accounting and regulations from a local
government. The principal is responsible in preparing and filing reports that highlight the school's financial condition.

Another responsibility of the school head as finance manager is Cash Management. Cash management is a
practice of ensuring that business money is properly used and accounted for. Many schools are income generating
businesses like any other. The role of the principal is to control and manage the money it generates. He oversees the
money that comes in and out of the school by monitoring financial distributions and investments.

In Implementing Cash Management Strategies, the school head is responsible in administering and
controlling school funds. He is also functional in analyzing the school’s operations, identifying and implementing
strategies to reduce the time and money spent on day-to-day school operations. These ordinary tasks include
processing purchase orders, payroll management and bill payments.

As finance manager, the school head should be knowledgably in Financial Planning. His primary role is to
act as financial planners for the school. They might collaborate with other school leaders to determine the school's
objectives and how finances can work toward those objectives. They ensure that available funds are used effectively
and transparently to reach goals.

The School Administrator as AGENT RESOURCES PRODUCTIVITY

The school administrator as agent resources productivity is concerned in the governance of resource use in
schools, in monitoring of resource use and in transparency and reporting. It includes the planning of resource use
(e.g. definition of priorities and targets, distribution of responsibilities for resource use, methods and instruments for
planning resource use, use of evidence and knowledge management) and the implementation of policies to improve
the effectiveness of resource use in (communication and consultation with relevant stakeholders about resource use,
policy experimentation and pilots).

The School Administrator as REVENUE PRODUCER

The main roles of school administrator as revenue producer are to develop school budgets and prepare the
school budget, a record of projected revenue and expenditure. Every school has a unique way of making and
administering its budget. The budget is vital, because it helps to ensure that the school achieves its goals,
establishes a control system and motivates employees to work harder. The budget should also define time periods
within objectives should be met.

The revenue producer can generate Fundraising. Fundraising is a method that communities use to support
the growth of their schools, and the principal is often responsible for his school’s fundraising activities. It is also his
duty is to ensure that the school uses the funds for the right purpose. Before conducting a fundraising effort, a
principal has to discuss the purpose with staff and students’ parents. When a school decides to conduct a
fundraising, the principal should consider the guidelines of public education, if applicable, and comply with them.

The school head keeps accounts. It is a principal's responsibility to account for the school's revenue and
how it is spent. Account keeping involves storing data so that it can easily generate reports and allow for future
reference. Some principals do some aspects record-keeping themselves; however, most schools employ a
professional accountants, as they are more conversant with accounting issues, and to avoid any impression of
financial wrongdoing.

As revenue producer, the school head manage the teachers’ salaries. A principal should ensure that
teachers’ salaries are in line with the levels set by the Department of Education and that staff comply with the
employment terms of the department. Principals should be well conversant with the terms and conditions, and a file
should be kept on each teacher, in which any salary changes and job performance details are recorded. A principal's
failure to comply with guidelines provided by the Department of Education is a serious offense and can lead to
closure of a school.

The School Administrator as AGENT OF CHANGE

Agent of Change refers to an educational change agent is the individual who can bring about positive,
lasting change for the clientele he/she serves. Principals must become change agents in order for education to
transition from assembly line efficiency to learner-centered agency. The principal takes on the role of active agents
who have the bandwidth and authority to create a movement at their schools.

References:

Judge, Timothy A., and Joyce E. Bono. "Relationship of core self-evaluations traits—self-esteem, generalized self-
efficacy, locus of control, and emotional stability—with job satisfaction and job performance: A meta-
analysis." Journal of applied Psychology 86.1 (2001): 80.

Anderman, Eric M. "Teacher Commitment and Job Satisfaction: The Role of

School Culture and Principal Leadership." (1991).
Katz, Robert L. Skills of an effective administrator. Harvard Business Review Press, 2009.