The financial management role of school principals in Ngaka Modiri Molema district
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The South African School Act 84, of 1996 gives a prescription on the manner in which schools should manage their funds. The Act also provides guidelines on the roles and responsibilities of principals and of the School Governing Body. However, various stake holders dispute the manner in which principals play their financial management role; this is due to overlapping of responsibilities and lack of accountability when problems regarding school finances arise. This hinders progress with regard to transparency and information sharing among stakeholders. The aim of this study is to investigate the role of the principal with regard to efficiently and effectively managing school finances; it also aims to establish whether principals have the necessary financial management skills necessary to perform their roles effectively and efficiently. Quantitative data was collected through conducting a survey. A questionnaire was distributed to school principals in selected schools. The results revealed that although the School Governing body is responsible for school finances as stated in the South African schools Act, accountability for financial management in schools lies with the school principal.