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Fiscal Management

Fiscal management is the process of ensuring an organization operates efficiently within its budget by properly procuring, allocating, and monitoring funds using tools like spreadsheets and accounting to meet goals and produce reports for stakeholders. School managers should ensure financial regulations and accurate recording of transactions while maintaining controls to prevent unauthorized spending beyond available income.

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May Anne Almario
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327 views1 page

Fiscal Management

Fiscal management is the process of ensuring an organization operates efficiently within its budget by properly procuring, allocating, and monitoring funds using tools like spreadsheets and accounting to meet goals and produce reports for stakeholders. School managers should ensure financial regulations and accurate recording of transactions while maintaining controls to prevent unauthorized spending beyond available income.

Uploaded by

May Anne Almario
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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FISCAL MANAGEMENT

is the process of keeping an organization running efficiently within its allotted


budget.
“seeing to it that the school has funds it requires to meet its goals and that such
funds are used for the purposes for which they were meant.

GOALS
To improve the way the department operates by properly planning, recording,
and performing procedures that relate to the budget.
This involves a variety of tools, including budget spreadsheets, accounting, and
guides outlining procedures for department management.

AREAS OF FISCAL MANAGEMENT


The procurement of funds
Allocation of funds
Monitoring their use in the interest of accountability
Producing financial reports for the relevant stakeholders

SCHOOL MANAGERS SHOULD ENSURE THAT:


All financial regulations and procedures are complied with
All financial transactions are recorded accurately
Adequate controls are in place to ensure that expenditures do not exceed income
Only authorized expenditures are incurred

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