0.5 Bibliography  (Page 3/3)

Probe:

• How was the policy derived?
• Is it reviewed regularly? [explain]

3.funding

• Is the funding received from the state sufficient?

Probe

• Is your school ranked in the correct quintile?
• Do you track the expenditure of Norms and Standards via a commitment register?

• How much are your annual school fees and what is the

collection rate [bad debt factor]?

Probe

• Are parents aware of the DoEs exemption policy?
• Are there mechanisms in place to track school fees collection?

4.budgeting

• Explain how your school budget is drawn up?

Probe

• What is your role in the budgetary process?
• Are all stakeholders involved in the process?
• Is a budget variance maintained to monitor expenditure?

5.the role of the school governing body

• Does the school have a legally constructed finance committee?

Probe

• Who serves on the FINCOM?
• How often does the FINCOM meet?
• Provide minutes of the meeting of the FINCOM?

• Does the school have the necessary personnel to perform the required financial functions/duties?

Probe

• Do the school have a finance officer/ bursar?
• Who serves as the treasurer of the school?
• Who are the signatories to the school fund account?

6.the role of staff

• Indicate the aspects of financial management in which the staff are involved?

Probe

• What is the role of staff in budgeting?
• Do any staff members sit on the FINCOM?
• What, if any, assistance is given by the Business, Commerce and Management [BCM] Head of Department [HOD]and the accounting teacher/s?

7.records and register

• Are the statutory records [books of account] and registers

[Assets; Stock&LTSM] adequately maintained?

Probe

• By whom?
• Are monthly bank reconciliation done?
• Does the school maintain petty cash?
• Does the school conduct the annual Board of Survey?

Accountability and transparency

• How are stakeholders kept informed about the financial

standing of the school?

Probe

• Are the monthly statements of receipts and payments; Bank Statements and Bank Reconciliation Statements submitted to the DoE?
• Are quarterly Statements of Receipts and Payments presented to the School Governing Body?
• Are annual financial statement audited [by a reputable auditor as specified in SASA and presented to the parent body as well as submitted to the DoE timeously]?

Financial management training

• Has the DoE provided you and/or your SGB adequate training on managing the schools finances?

Probe

• Have you been inducted after you assumed duty as a principal?
• Did the induction include aspects of Financial Management?
• Are you sufficiently equipped and qualified to perform your financial management role function as elucidated above?
• Do you have any other academic or professional qualification?
• Do you think you are adequately trained / capacitated to manage the schools finances?
• Do you receive from your Superintendent of Education?

10.time management

• As the instructional leader, do you teach [any subject] and if so how many hours per week do you spend in the classroom?

Probe

• Approximately what percentage of your non-teaching time [NTT] is allocated to financial management?
• Is financial management as “a needless added responsibility”?

• Are you able to delegate some of you financial management responsibilities to members of the School Management Team?

Probe

• Comment on Team Work and ability and/or willingness of the SMT to assist.
• To what extent is the SGB able to assist in the financial management of the school?