Financial accountability at schools: challenges and implications

Abstract

Financial accountability is the cornerstone of ensuring that schools disburse funds allocated to them for the sole purpose of advancing the best interests of the learners. The prescriptions of the South African Schools Act clearly locate financial accountability on school governing bodies and, as such, make financial accountability a legal requirement. We examined the challenges experienced by school governing bodies in executing their financial accountability responsibilities. It emerged from the findings that schools do experience challenges in this regard. The main contributory factor seems to be largely attributed to the lack of capacity to execute financial accountability functions as manifested in budgeting, accounting and reporting functions. While there could be reasons for this, including the supposed illiteracy of the parent-governors, the implications seem to relate to the very core of legislation concerned with school governance. In essence, this implies a review of the Schools Act in terms of functions that are specialised and that require expertise.