International Journal of Social Work and Educational Management (IJSWEM)
Educational Budgeting and Finance Management: Principles, Practices, and Accountability Mechanisms in School Systems
E-ISSN: 2466-2435
P-ISSN: 2367-2464
DOI: https://iigdpublishers.com/article/1548
Educational budgeting and finance management constitute the cornerstone of effective school administration, determining the capacity of educational institutions to achieve their pedagogical objectives within resource constraints. This empirical paper examines the fundamental principles of educational budgeting, compares zero-based and incremental budgeting approaches, evaluates financial record-keeping and auditing practices in schools, and investigates common resource leakages alongside accountability mechanisms. Drawing on a comprehensive review of contemporary literature and empirical evidence from diverse educational contexts, the paper argues that effective financial management requires a systematic integration of principled budgeting practices, robust internal controls, and multi-stakeholder accountability frameworks. The analysis reveals that while incremental budgeting remains prevalent due to its predictability and ease of implementation, zero-based budgeting offers superior alignment with institutional goals and resource optimization. Furthermore, the study demonstrates that financial leakages persist in many educational systems due to weak internal controls, inadequate training, and insufficient stakeholder engagement. The paper concludes with recommendations for strengthening educational finance management through capacity building, participatory governance, and results-based accountability systems.
Ariejovbo Goodluck Onoriode Fortune PhD
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