This book will provide readers with knowledge and understanding of the theory and practice of managing finance, resources and stakeholders in schools and colleges. Written specifically for those studying for an academic qualification at Masters level in educational management, it provides self-study material and links to other key texts in the field. The authors deal with the links between finance, resources and stakeholders in the context of school and college self-management. Examples are drawn from international settings as well as from the United Kingdom. Building on an examination of theoretical perspectives, practical considerations and applications are examined in a format which encourages the reader to explore the c
Chapter 3: Financial Management in Schools and Colleges: Theoretical Perspectives
Financial Management in Schools and Colleges: Theoretical Perspectives
The premise underlying this chapter is that education must be financed and that it is the astute and effective management of this finance that will allow a quality educational provision to be delivered: ‘A self-managing school is a school in a system of education where there has been a significant and consistent decentralisation to a school level of authority to make decisions related to the allocation of resources’ (Caldwell and Spinks, 1992, p. 4).
Through this move towards the direct self-management of educational providers, it becomes apparent ...