Financial Management in Educational Institution.pptx

How to manage finances in educational institutions, balance and reports of cash flow

1. in Educational Institutions Financial Management Bayot, Jerrica Marie G. Bullas, Joemely Pacifico, XZ Mae

2. Budgeting Processes Part 01 Financial Reporting and Analysis Part 02 Resource allocation and optimization Part 03

3. Financial Management Definition It is the effective and efficient use of financial resources (money) for the achievement of organizational project objectives. Is concerned with the sourcing, utilization and control of funds in order to add value to the stakeholders and report to them accordingly. Money is the life blood of an organization

4. Financial Management Importance Good financial management ensures that the school’s funds are safeguarded and used for the intended purposes. School head needs financial management to make effecitive and efficient use of resources to achieve objectives of the school Plays a vital role in organizing various financial burdens, fostering harmonious school systems, aiding financial decision-making, supporting and protecting schools, developing plans for fund management and growth, and increasing productivity.

5. BUDGETING PROCESSES Part 01 The process of reviewing past budgets and planning budgets forecast revenue is know as the budgeting process. It includes aligning with upper management in order to analyze budget data and establish goals for the future to better control spending.

6. Types of Budgets Operating Budget serve as the financial backbone of educational institutions, encompassing day-to-day expenses and resources they need to function. These budgets typically cover expenditures such as salaries, supplies, utilities, maintenance and administrative costs Capital budgets are typically requests for purchases of large assets such as property equipment, of IT systems that create major demands on an organization’s cash flow.Capital budgets facilitate significant expenditures aimed at enhancing the physical and technological resources of the institution. Cash budgets tie the other two budgets together and take into account the timing of payments and the timing of receipt of cash from revenues. Cash Budget Capital Budget

7. Effective Budget Planning 1. Set clear goals and priorities 2. Involve Stakeholders 3. Prioritize flexibility 4. Seek external resources 5. Invest in professional development

8. Thank you!