Exploring the Financial Management Challenges Faced by in Public Schools in the Hyde Park North Cluster of the Khami District in Bulawayo, Metropolitan Province: A Case Study

Abstract

Financial management is important for schools as it enables them to plan their finances, acquire and manage funds, allocate funds, increase efficiency and cut down on financial costs. However, there have been reports on rampant mismanagement of funds in public schools This study sought to investigate financial management in Public schools. A case study design was adopted with Pumula High, Amhlophe High and St Bernards High schools from Hyde park North cluster. Major challenges were found to be, financial illiteracy, staff shortages, economic challenges and misunderstandings between the SDC/A members and the schools Heads. The study concluded that management of finances in schools should not be much of a challenge if the authorities including the Government could work closely with the school and address problems that the schools face. The study recommended continuous financial management training and workshops for the Heads and SDC/A members. Staffing concerns should also be addressed. Further studies could look at the feasibility of thorough training of the school authorities on accounting programs such as accounting diplomas or accounting degrees.