FINANCIAL POLICY,PLANNING

AND CONTROL FUNCTIONS.

FINANCING EDUCATION AS AN ADMINISTRATIVE
FUNCTION.
 FINANCIAL POLICIES

What is financial policy?

Refers to the policies related to the regulation ,supervision , and
oversight of the financial and payment systems ,including markets
and institutions , with the view to promoting financial stability ,market
efficiency , and client-asset and consumer protection.
 FINANCIAL POLICIES OF DEPED

• The Department of Education’s finance and administration

policies to maintain financial and administration practices that
establish a framework for the transparent , effective , and
efficient use of resources in compliance with government
legislation.
 What is the purpose of financial
policy?
The primary purpose of financial management policies is to
provide in guidelines for the city council and staff to use in making
financial decisions that ensure core services are maintained and
the Counsil’s vision for the community is achieved.
 Financial Planning and Control

Defines as a combination of strategies it supports

the entire financial management process for an
organization. The process begins at financial
planning , many times in the form of cash flow and
forecasting balance sheet.
 Planning:

• Planning is an essential component. It is an useful

exercise to be undertaken by the administrators. It
involves systematic, organised and an articulated
scheme of working. So planning can be thought of at
the beginning of the session.
 Organisation
• Organisation is also an important function of
good administration. The effective and efficient
work of the school depends upon the good
organisation. The essential element of the
organisation is people: what they do and how
they work together.
 Direction
• Direction is an important function of educational administration.
Direction involves getting the work done through instructions and
orders. There should be proper supervision, motivation and
communication on the part of the administrator for getting the
work done. The ultimate aim is to see that work is accomplished
according to policies and programmes and given instructions.
Directing involves exercising leadership motivating people,
determining accountability and developing guidelines for action.
 Controlling
• Controlling involves measuring and monitoring performance,
comparing results with plans and taking corrective action when
required. It indicates how far the goals have been achieved and to
what extent there is deviation from the plans. The basis of control
is measurement. Control deals with the difference between
planned and actual performance.
Financial Planning and Control Process Flow Chart

1. LISTENING 2.ANALYZING 3. PLANNING

Focusing on your Information and
concerns, goals , developing alternatives with clients for sounds
desires, and dreams. to consider decisions.

4.IMPLEMENTING 5. MONITORING
The financial To ensure that clients
investment plan. stay on track
Importance of Financial Planning and Control
within a management of an organization.

Segregation of Task and Duties – When dividing responsibilities

anywhere between people increases the risk of protection againts ,
errors , fraud , oversights.
Qualification of Advisors and Employee – An organization must
promise that your financial managers and advisory team are enough
competent . Also they should be properly trained with their task for
financial planning and control of an organization.
External Audits and Review – Certain organizations
have always been legistatively forced to need audits
prepared every year , other companies have a concerns
regarding not to have externally audits performed.it is
seriously advised to those who have concerns should
discourage their thoughts.
 Education and Finances

Financial Management --It is

fundamental to the improvement of the
efficient and effective use of finances in
schools.
 Finance Service
Formulates a national policy framework for the operationalization of
the finance services in the department.
Provides management with technical staff assistance on fiscal matters
particularly on:
• Management of financial resources
• Determination of budgetary requirement
• Accounting of the Department’s funds
 Offices and Divisions

• 1. Office of the Director

• 2. Accounting Division
• 3.Budget Division
• 4.Employee Account Management Division
 Administrative Service
Formulates a policy framework for the operationalization of the
Administrative services in the Department.
Develops and implements administrative policies and guidelines on
material resource management.
Provides the Department with econonomical , efficient and effective
services relating o the personnel , information , records , delivery , and
receipt of correspondence , buildings , school furniture , supplies ,
equipment , collections , disbursement , security and custodial work.
 Offices and Divisions:
• 1. Office of the Director
• 2. Asset Management Division
• 3. Cash Division
• 4. Education Facilities Division
• 5. General Services Division
• 6. Records Division
• Baguio Teachers Camp
Procurement Management Service

Formulates the framework to guide the operations of

the Procurement Management Service.
Directs all activities of the Department , whether in the
cental (including those of its staff bureaus) or regional
level, pertaining to procurement planning , purchasing ,
contract management , and monitoring.
 Offices and Divisions:

• 1. Office of the Director

• 2. Procurement Planning Management Division
• 3. Contract Management Division
• 4. Bid and Awards committee Secretariat Division