Educational Financial Management Strategy

Educational Financial Management Strategy In the implementation of financial management, the principle of separation of duties between the functions of authorizer, ordonator and treasurer is adopted. Authorizer is an official who is authorized to take actions that result in budget receipts and expenditures. Ordonator is an official who is authorized to conduct testing and order payment for all actions taken based on the authority that has been determined. Treasurer is an official who is authorized to receive, store and spend money or other valuables that can be valued with money and is required to make calculations and accountability. The Principal as a manager, functions as an authorizer, and is entrusted with the ordonator function to order payments. However, it is not permissible to carry out the function of treasurer because he is obliged to carry out internal supervision. The treasurer, in addition to having the functions of treasurer, is also entrusted with the ordonator function to test the right to payment. The Manager/Head of the School Finance Section is obliged to determine the school's finances, how to obtain funds for school infrastructure and the use of these funds to finance school needs. What the Head of Finance Section must have is a financial strategy, including the following. a. Strategic Planning, is a strategy that is guided by internal relationships and external needs that come from outside. Contains elements of needs analysis, projections, forecasts, economics and finance b. Strategic Management, is a strategy/effort to manage the process of change, such as planning, strategy, organizational structure, control, strategy and primary needs. c. Strategic Thinking, is a strategy that is the basic framework for formulating goals and results on an ongoing basis. The budget planning process in schools is very simple and the principal can report simply as well. The format used to prepare the School Revenue and Expenditure Budget Plan includes: 1) sources of income including routine funds, DPP, DBO, OPF, and BP3; 2) expenditures for teaching and learning activities, procurement and maintenance of facilities and infrastructure, development of learning resources and teaching tools as well as honorariums and welfare. (Mulyono, Concept of Education Financing…. p. 162). In relation to this budget preparation process, Lipham revealed four main activity phases as follows. a. Planning the budget, namely the activity of identifying objectives, determining priorities, describing objectives into measurable operational performances, analyzing alternatives for achieving objectives with cost-affectivies analysis, and making recommendations for alternative approaches to achieving targets. b. Preparing the budget, namely adjusting activities to the applicable budget mechanism, its form, distribution, and targets of the teaching program need to be formulated clearly. Conducting an inventory of the completeness of equipment and materials that are already available. c. Managing budget implementation, namely preparing bookkeeping, making purchases and making transactions, making calculations, supervising implementation in accordance with applicable work procedures and making financial accountability reports. d. Assessing budget implementation, namely assessing teaching and learning programs, assessing how to achieve program targets and making recommendations for improving future budgets. (Mulyono, Concept of Education Financing. pp. 162163). The budget preparation process requires accurate and complete data so that all future needs planning can be anticipated in the budget plan. Many factors influence the process of preparing education budgets in schools, such as student development, inflation, program development, and improvements and enhancements.