‘Basic Financial Management Skills’ - education.gov.pg

1 Basic Financial Management skills for Elementary, Community and Primary Schools Schools Work BetterSchools Work BetterSchools Work BetterSchools Work Better When the Accounts are in Good OrderWhen the Accounts are in Good OrderWhen the Accounts are in Good OrderWhen the Accounts are in Good Order Department of Education and Department for Community Development Introduction This Flip Chart contains activities to enhance the capacity of community members, primary school Boards of Management (BoM), head teachers, inservice coordinators, and teachers to better perform their current work responsibilities.

2 These school-based activities support and strengthen work-place skills and knowledge and enhance individual personal development. The Flip Chart is intended to be used with the Basic Financial Management Booklet, the activities in this flip chart will some understanding of the Financial skills suggested in the booklet. School teachers and community members can use these capacity building activities for your personal and professional development, and the needs your school. These capacity building activities can be undertaken by groups or individually.

3 The Papua New Guinea Education Institute will provide accreditation to their students on the completion of assessment tasks. The capacity building activities in this booklet will help you learn about: How to manage your school s Financial activities and working together in supporting and improving the Financial Management of your school. The Financial Management Act and your school s roles in relation to accountability and transparency. The responsibilities of the Board of Management and the Head Teacher in school budgeting and planning, How the Head Teacher and the Board of Management need to work cooperatively together, and Your schools roles and responsibilities in the recording and reporting of Financial information.

4 Those of you who are involved in school administration need to understand the correct ways of managing your school finances. The same skills could be applied in managing your family, clan or community group s funds. This material will assist those managing public funds to understand the importance of effective Management of school funds. From this booklet, Head Teachers, as accountable officers will develop cost-effectiveness measures, understand what it means to be transparent, and ensure that they practice good governance and accountability in all public institutions and communities.

5 NATIONAL SONG NATIONAL PLEDGE PRAYER O arise all you sons of this land Let us sing of our joy to be free Praising God and rejoicing to be Papua New Guinea Shout our name from the mountains to seas Papua New Guinea Let us raise our voices and proclaim Papua New Guinea Now give thanks to the good Lord above For his kindness, his wisdom and love For this land of our fathers so free Papua New Guinea Shout again for the whole world to hear Papua New Guinea We re independent and we re free Papua New Guinea We the people of Papua New Guinea Pledge ourselves, united in one nation We pay homage to our cultural heritage The source of our strength We pledge to build a democratic society Based on justice, equality, respect and prosperity for our people We pledge to stand together as One people, One nation One country God bless Papua New Guinea Almighty and Eternal Father.

6 We thank you and praise you. For the infinite love and mercy, You rain down blessings upon mankind, in spite of their faults and failings. Bless our nation PNG, and her people. We are pilgrims on our way to freedom, with good news for all we meet. Help us travel lightly, travel together. Learn as we go, we are disciples, The mission is urgent,The journey is long. Help us travel with authority, fearing no one. We are apostles, Opponents of evil. Let the cross be our compass, love be our sign. To lean upon your great strength, Trustfully and to wait patiently and serenely For the unfolding of Your Will.

7 Amen 1 Topic 1: Who is the Accountable Financial Management Officer for schools? Sopos yu lukautim moni blong school yu mas behainim wei blong despela buk Financial Management Act 1999 2 Topic 1: Who is the Accountable Financial Management Officer for schools? The Head Teacher is the Accountable Financial Officer in a school. The Head Teacher is given the responsibility of keeping accurate records of all Financial activities, managing all school accounts, using school funds for BOM approved activities, reporting to the BOM on the use of school funds, acquitting grants, and for keeping all Financial records in a safe place.

8 The Head Teacher, as ex officio member of the BOM needs to work very closely with the BOM Treasurer and Chairperson in preparing a school budget and in managing the school funds. The Head Teacher and BOM Treasurer need to prepare quarterly Financial reports for BoM meetings regarding the school Financial activities and the implementation of the school budget . The Head Teacher, as the accountable officer is the person who will be held responsible if any school money is misused. The Head Teacher, the BOM Treasurer and BOM Chairperson should all be signatories on any school accounts.

9 Discussion Questions 1. According to the Financial Management Act who is the school accountable officer? 2. What are some of the responsibilities the accountable officer has in managing the school finances? 3. What is the BOM accountable for? 4. How should the BOM and Head Teacher work together in managing school funds? 5. Who is going to be investigated if school money is misused used? Why? 6. Who should be the signatories on any school accounts? Why? 3 Des pela pasin em i pasin blong stil Topic 2: What will happen if you do not follow what it says in the Financial Management Act 1999?

10 4 Topic 2: What will happen if you do not follow the Financial Management Act? The Department is very concerned about theft and misappropriation of funds in some schools. Parents become angry and frustrated because they expect teachers to set a good example to their children, and to properly use all school funds.