FISCAL MANAGEMENT:

MEANING AND IMPORTANCE

& OTHER BASIC CONCEPTS
ON FISCAL MANAGEMENT

PREPARED BY: NEILFREN P. VILLAS

-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.
To improve the way the
department operates by
properly planning, recording,
and performing procedures
that relate to the budget.
The procurement of funds

Allocation of funds

Monitoring
their use in the interest of
accountability
•Producing financial reports for the
relevant stakeholders
•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

 Principles:

1. Transparency
2. Competitiveness
3. Procurement Process
4. System of Accountability
5. Public Monitoring
 PRIORITY EXPENDITURES

1. BASIC UTILITIES
2. OFFICE/SCHOOL SUPPLIES
3. MINOR REPAIRS
4. OTHER SUPPLIES
5. SALARIES FOR JANITORIAL AND SECURITY
SERVICES
EXPENSES FOR THE FOLLOWING IS
NOT ALLOWED:
1. PROCUREMENT OF TEXTBOOKS
2. OTHER INSTRUCTIONAL MATERIALS
3. SCHOOL FURNITURE
4. EQUIPMENT