LEGAL GRAMEWORK OF MANAGING SCHOOL FINANCES (SOUTH AFRICAN SCHOOLS ACT N0.…
LEGAL GRAMEWORK OF MANAGING SCHOOL FINANCES
NAME: SANDHYA SUNKER
STUDENT NUMBER : 920070439
MODULE: HUMAN RESOURCE MANAGEMENT B
COUNTRY : SOUTH AFRICA
TYPE OF INSTITUTION: PUBLIC
SOUTH AFRICAN SCHOOLS ACT N0. 84 OF 1996
Governance and professional management in public schools
governance rests with the SGB.
Professional management of the school must be undertaken by the principal under the authority of the HOD.
SECTION 16 A : FUNCTIONS AND RESPONSIBILITIES OF THE PRINCIPAL
annual financial report to HOD.
-inform SGB about policy and legislation.
-assist SGB with the management of school funds.
-take steps to prevent financial mismanagement.
-must be a member of the finance committee.
-report maladministration to SGB.
-assist SGB in functions and responsibilities.
-DO NOT conflict with instruction of HOD, legislation or policy.
SECTION : 5 Admission : admit learners who cannot afford school fees.
SECTION 36 : -supplement resources via fundraising projects. , loans and overdrafts must be approved by the MEC. , MEC to approve any person that can conduct business on school premsis to approve alterations, leases to property for the provision of school activity.
Section 37 : School fund and assets of public school: All monies collected to be paid into bank account , open and maintain bank account.
-Funds and assets to be used for educational purposes of the school.
Not allowed to establish or pay school schools in a trust.
SECTION 38 A : No payment of additional or unauthorised remuneration/ financial benefit in kind to certain employees.
SECTION 42 : Evidence of financial records / statements.
Section 43 : AUDIT OF FINANCIAL RECORDS / STATEMENTS : - MUST HAVE A REGISTERED AUDITOR
-MUST NOT HAVE FINANCIAL INTEREST.
-SUBMIT WITHIN 6 MONTHS OF YEAR -END .
SECTION 58 A (1) : HOD to compile / inspect inventory of all assets of public school.
FINANCIAL POLICY : - New draft financial regulation. -inventory listing and asset register and management of LTSM
SA SAMS usage
-Promotion of uniform standard
SECTION 59 : schools must make information available.
NORMS AND STANDARDS OF FUNDING :check:
PUBLIC FUNDING OF PUBLIC SCHOOLS.
-EXEMPTION OF PARENTS WHO ARE UNABLE TO PAY SCHOOL FEES.
PUBLIC SUBSIDIES TO INDEPENDENT SCHOOLS IN TERMS OF SECTION 48 (1).
SCHOOLS RANKED INTO QUINTILES.
EDUCATION LAWS AMMENDMENT ACT OF 2005. :PROHIBITION TO LEVY COMPULSORY SCHOOL FEES BY CERTAIN CATEGORY OF SCHOOLS.
EDUCATION LAWS AMMENDMENT ACT OF 2007 : PREPARE AND SUBMIT TO hod AN ANNUAL REPORT IN TERMS OF THE EFFECTIVE USE OF AVAIBLE RESOURCES.
CIRCULARS AND MEMOS
Circular 79 of 2007 : Indicative resource allocations to Public /ordinary schools.
Memo dated 6/11/2018 : offer of centralised stationery procurement Quintile 4/5 schools for 2018 - 19 Financial year.
Circular M 7 Of 2018 : Legal interpretation for section 27 of SASA regarding " necessary expenses.".
Circular M 1 of 2017 : Measures to improve management of school finances, preparation and auditing of financial statements.
Circular M 4 of 2017 : Measures to strengthen compliance with section 30 (1) of the Public Service Act.
Circular M2 of 2017 : Measures to strengthen and improve personnel administration of educators in order to improve findings raised on record management.
Circular M 3 of 2017. : Measures to strengthen compliance to section 43 and 43 of SASA.
Circular M1 of 2018 : Legal interpretation for section 43 (2) of SASA regarding " is not reasonably practicable"
PUBLIC FINANCE MANAGEMENT ACT NO .1 OF 1999.
Section 39 -42 -budget control, full records, annual reports and timeframes , transfer of assets liabilities.
Section 38 Accountability / structure : governance structure: effective / efficient.
-transparent financial management.
-internal control systems must be in place.
-appropriate procurement provisions
-competitive / cost effective systems
-collect money and manage finances properly.
safe guard /maintain assets.
comply with all tax/ pension/ audit commitments by legislation.
-prevent unauthorised and wasteful expenditure .
-Take disciplinary steps if act is contravened.
RESPONSIBILITIES OF OFFICIALS -System of financial management and internal control, effective / economical / transparent use of financial resources.