An Investigation into The Financial Management Role of Secondary School Principals

Abstract

Principals are the administrative heads as well as the financial managers of secondary schools. This study aims investigated secondary school principals’ role of financial management. Objectives of research were to; find out secondary school principals’ financial management role and provide suggestion to enhance principals’ financial management role in secondary schools. Design of study was quantitative survey. The population was 143 principals of secondary schools in Swat district of KP, Pakistan. The sample was 105 principals recruited with simple random procedure. Questionnaire was the data collection instrument that was developed, validated and piloted for data gathering. Data were collected using self-administration. Data were analyzed through mean scores, standard deviation and chi-square. The study found that principals prepared schools’ budgets, received financial aid, allocated of finances, ensured transparency, monitored expenditure and maintained proper record of finances. However, principals were not making proper planning for the financial management, organizing the staff, involving teachers and involving community in financial management of schools. The study recommended the provision of capacity building trainings for principals in financial management and ensuring involvement of stake holders for effective financial management of secondary schools.