Practices and Challenges in School Financial Resource Management Implementation in the Public Secondary Schools in Laguna

Abstract

This study aimed to determine the level of practices and challenges in financial resource management implementation among secondary public schools in the Schools Division Office (SDO) of Laguna. Methodologically, the researcher called for a descriptive research design in a quantitative approach. The respondents of this research are the sixty-eight (68) school heads and ninety-seven (97) finance officers. On the level, it was revealed that the practices of the schools such as stakeholders' participatory management, Income-Generating Funds (IGP), Annual Procurement Plan (APP), and school head -stakeholders' collaboration were found to be remarkable. In the same manner, the management of challenges in their schools such as unforeseen expenditures, budgetary plans, internal auditing, and insufficient fund allocation was remarked as highly evident. And also, the implementation in school performance, Programs, Projects, and Activities (PPA) implementation, liquidation, transparency, and school facilities, were all also computed as highly evident. For all the variables mentioned above, the public secondary schools in SDO Laguna are indeed doing significant compliance on how they should manage their allocated finances. Moreover, after scrutinizing the data, the following conclusions are revealed: it was concluded that the practices have a significant effect on school performance, PPA implementation, liquidation, transparency, and school facilities. Hence, the null hypothesis is rejected. Likewise, it was also concluded that proper management of challenges has a significant effect on school performance, PPA implementation, liquidation, transparency, and school facilities. Thus, the null hypothesis is rejected. Lastly, it was concluded that there is no significant difference between the responses of school heads and finance officers when it comes to practices and financial resource management implementation. However, there is a significant difference between their responses to challenges. Hence, the null hypothesis is partially rejected.