School financial management is the performance of management actions (regulatory tasks) connected with the financial aspects of schools, with the main aim of achieving effective education, carried out by a person in a position of authority. Financial management is a process with several activities: identification, measurement, accumulation, analysis, preparation, interpretation and communication of information (both financial and operating). The financial manager ensures that the school governing body and school management team plan, organise, delegate and control the funds of the school in such a way that it achieves its goals.
It ensures that expenditure is directed towards achieving good value for money through the appropriate acquisition and allocation of resources.
Financial, resources are the means of supply and support that assist school managers in the achievement of goals and consist of money, time, material resources and human skills. Managing a school's finances and resources effectively require:
a clear vision of where the school should be going, based on a particular philosophy and certain sets of values;
a focus on results, matching achievements against cost; critical and analytical approaches to issues and problems; and
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