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As the majority of the schools sampled had either inadequate or non-existent finance policies it is recommended that:

  • the Education Districts or the Provincial Education Department draw up a generic schools’ finance policy containing the minimum rules and regulations for the efficient, effective and economic management of the schools’ finances
  • school governing bodies (inclusive of all relevant stakeholders) use the above generic instrument to adapt and contextualise it to their schools
  • the governance unit at the level of the district ensure that all public schools are in compliance

Composition and functions of the finance committee (fincom)

According to SASA (1996; 30 (1) (c)) the governing body of a public school may establish committees, including a finance committee and allied sub committees. The South African Schools Act however does no specify: (i) the constituents or composition of the FINCOM; (ii) its functions and (iii) the frequency of its meetings. The literature reviewed further exacerbates the problem as the various authors had differing views on the constituents, functions and frequency of meetings. A consolidation of the literature reviewed generally indicated that the FINCOM should, as a minimum, comprise of: (i) the treasurer; (ii) the chairperson; (iii) the principal; (iv) the finance officer (bursar) and (v) an educator representative. Additional members could be co-opted if the above constituents lacked expertise.

According to Clarke (2008; 53) the FINCOM should meet monthly whereas Mestry (2004; 121) suggest that it is vital for this committee to conduct regular meetings. Clarke (2008; 53) lists the duties of the FINCOM as: (i) preparation of the school budget for submission to the full board; (ii) monitor income, expenditure and cash flow; (iii) financial oversight to ensure that the board and the Provincial Education Department’s policies are adhered to and (iv) to check and act on audit reports. Mestry (2004; 131) describes the functions of the FINCOM as: (i) to develop and implement a finance policy; (ii) to construct a budget and keep control of it; (iii) to monitor and approve all expenditure and (iv) to ensure proper procurement procedure – all decisions taken by the FINCOM must be ratified by the SGB.

Based on the literature and the findings around financial controls and the functioning of the FINCOM it is recommended that the National Department of Education or the Provincial Education Department:

  • stipulate the minimum composition of a FINCOM
  • identify the key constituents of the FINCOM
  • gazette the FINCOMs statutory functions
  • indicate the frequency of the meetings of the FINCOM

5.3.4.review of the funding norms for public schools

The National Department of Education (DoE) has pegged the “adequacy benchmark”, that is the minimum amount of money that the state should provide to a public school in order for a school to cover its recurrent expenses, at quintile 3 – currently five hundred and ninety six rand (R596) per learner per annum. In the Pinetown Education District sixty percent (60%) of the schools representing sixty two percent (62%) of the learners are under-funded, that is they are ranked in quintiles 4 and 5 (cf table 4). According to KZN Circular 27/05 (2009; 1) the DoE has extended the no fee school band to Quintile 3 schools. Quintile 3 schools will be funded at the target amount of seven hundred and eighty four rand (R784) per learner per annum in the 2010/2011 (next) financial year – representing a 31, 5% increase. Quintile 4 and 5 schools are currently funded at R398 and R160 respectively. It is therefore recommended that:

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Source:  OpenStax, Financial management of schools. OpenStax CNX. Nov 16, 2009 Download for free at http://cnx.org/content/col11137/1.1
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