Challenges facing principals in managing school finances

Abstract

The purpose of this study was to determine the challenges facing the principals in managing the school finances. The research was conducted around Bojanala West Region of the North West Province. From the total of 369 schools in Bojanala West Region, a simple random sampling of (N=75) schools was done. From each sampled school four (4) of the following were requested to participate in the study, the principal and or the deputy principal, 1 HOD, 2 educators. The education system in South Africa has changed drastically, whereby financial management has been vested upon the shoulders of the SGB's. However SASA provides the guidelines for the SGB's and the principals on their roles and responsibilities in managing finances of schools. The department of education provides training for the SGB's and the principals in relation to school finance management. Little knowledge of the contents of SASA or misinterpretation by the school finance committee may lead the school to be a victim of mismanagement or misappropriation of funds in the form of theft or fraud.