Financial Management experiences of township early childhood development centre principals in Gauteng Province of South Africa

Abstract

The delivery of high-quality education is considerably aided by effective school management, which includes managing finances. Understanding financial management in early childhood education (ECE) is crucial and essential given that high-quality ECE is now recognised as a foundation for successful higher education and productive adulthood. This study aimed at exploring township early childhood development centre principals' experiences with their financial management responsibilities. Four early childhood development centres were purposively selected from the township areas in Gauteng Province, South Africa, using a qualitative research approach and case study design. Data was collected through in-depth semi-structured interviews with the principals of the selected centres. The findings demonstrate that the ECD principals have limited knowledge of financial management responsibilities and that there is no formal legal framework for financial management at ECD centres. Township ECD financial management practices include planning (identifying needs), organising (fees paid into the bank account and procurement made through bank card) and reporting (giving accounts to the board of directors and parents). In this study, it can be concluded that township ECD principals are making an effort to ensure effective financial management of their centres. However, several obstacles, including the principals' lack of accounting expertise, their heavy workload, the non-payment of school fees, and the absence of a financial management legislative framework, prevent ECD centres' effective and efficient financial management.