Cash Book-Makamisi - Presentation

8/7/2019 Cash Book-Makamisi - Presentation

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REPUBLIC OF KENYAREPUBLIC OF KENYA

MINISTRY OF EDUCATIONMINISTRY OF EDUCATIONKENYA EDUCATION STAFFKENYA EDUCATION STAFF

INSTITUTE (KESI)INSTITUTE (KESI)FINANCIAL, CORRUPTION ANDFINANCIAL, CORRUPTION AND

INTEGRITY ISSUES ININTEGRITY ISSUES IN

SECONDARY SCHOOLSSECONDARY SCHOOLSMANAGEMENTMANAGEMENT

KESI MAY 2010 KESI MAY 2010


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Overall responsibility for resourceOverall responsibility for resourcemanagement in educationmanagement in education

institutionsinstitutions

Performance in our schools very much dependson the efficiency with which school resources aremanaged. The management of these resources isthe responsibility of the head of that institution.The BOG, the Parents Teachers Association(PTA) or other stakeholders group may lendtheir support to the head of the institution inrespect of resources management but thatsupport does not constitute a change of theprimary responsibility.


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Accountability of institutions management

The management of learning institutions shall be accountable toparents, pupils, the governments and donors as appropriate for

the use of the schools resources.

Presentation objectives By the end of this presentation, school heads should be able;

a. To improve school performance through proper planning,management and control of resources.

b. To develop and implement effective and efficient procurementstorage and disposal procedures.

c. To demonstrate transparent, a committable and ethical leadership ininternal decision making.

d. To identify corruption prone areas and implement prevention andmitigation actions plans.

Financial management in secondary schools is expected to beprudently undertaken and involves the following: -


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Planning and budgetingPlanning and budgetingIt is important that proper planning and budgeting is done by theIt is important that proper planning and budgeting is done by the

school to ensure that scarce resources are utilized in the mostschool to ensure that scarce resources are utilized in the mosteconomical way and that transparency and accountability is upheld.economical way and that transparency and accountability is upheld.AuthorisationAuthorisationThe budget should be approved by the SMC BOG by October of theThe budget should be approved by the SMC BOG by October of thepreceding (running) year. This should give adequate time for otherpreceding (running) year. This should give adequate time for otherprocedures to be followed.procedures to be followed.Extra levies should be discussed by the BOG, PTA, and parents DEBExtra levies should be discussed by the BOG, PTA, and parents DEBand then forwarded to the MOE for approval schools should notand then forwarded to the MOE for approval schools should notcommence charging levies before such approval is granted.commence charging levies before such approval is granted.ExecutionExecutionThis is the actual implementation of the budget which involvesThis is the actual implementation of the budget which involves

revenue collection, procurement and expenditure.revenue collection, procurement and expenditure.Recording and ReportingRecording and ReportingAdequate internal controls should be put in place to ensure accuracyAdequate internal controls should be put in place to ensure accuracyand completeness in recording of financial transactions.and completeness in recording of financial transactions.The recommended procedures and timing should be followed.The recommended procedures and timing should be followed.


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PLANNING ANDPLANNING AND

BUDGETINGBUDGETING Planning is the process of establishing objectives or goals for theorganization and determining the means by which the objectives will beattained.

A budget is a plan quantified in monetary terms, prepared and approvedprior to a defined period of time usually showing planned income to begenerated and the expenditure to be incurred in the period.

Budgetary control is a system of planning and controlling costs. Itsobjectives is therefore to plan and control cost of both the normal incomeand expenditure and capital expenditure (construction, purchase of a busetc) of the institution.

It can also be defined as a plan quantified in monetary terms, prepared andapproved prior to a defined period of time usually showing plannedincome to be generated and the expenditure to be incurred in the period.

Budgetary control is a system of planning and controlling costs. It is theestablishment of the budgets relating to the responsibilities of theadministration to the requirements of a policy, and the continuouscomparison of actual with the budgeted results, either requiring action orproviding a basis of revision.


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Functions of the BudgetFunctions of the Budget

To determine financial and other resources required incarrying out the plans and services of the institutions.

To obtain board of governors approval of the principalwho is the accounting officers programme andresources requirement.

To provide a basis for financial control.

Focuses on priority area to ensure effectiveness.

Enhance teamwork and participation by other

stakeholders. Enhances transparency and accountability.

Reduces uncertainity and risks. A school can predict thefuture by planning and make provisions.


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Steps to be observed in BudgetSteps to be observed in BudgetPreparationPreparation

Identify the schools activities This is based on theschools known requirements.

Prioritizing of activities Ensures that high priorityactivities are allocated funds first and should also be

based on available funds. Determine the expected income. This should be based onrealistic projections of expected government grants, usercharges, school income generating activities, plannedfunds drive or donors.

Determine the target expenditure for the period. This isbased on the estimated receipts and standards in theprevious points. The Head teacher should be able toissue specific guidelines on funds i.e. limitation, costestimation and activity priorities.


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Objectives of Budgetary ControlObjectives of Budgetary Control

A system of Budgetary Control will serve thefollowing purpose;

Planning

Co-ordination

Control

The objectives of budgetary control therefore are

to plan and control the following; Income and expenditure of the institution

Capital expenditure of the institution


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Types of BudgetsTypes of Budgets

A budget can be classified by either preparation orexpenditure

1. Preparation Under preparation classification- we have the

following;i. Surplus budget This is where the overall projected

budget shows more than that the projectedexpenditure.

ii. Deficit budget This is where the overall budget

shows that projected expenditure is more than theprojected incomeiii. Balanced budget This is where the overall projected

income is equal to the projected expenditure.


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ExpenditureExpenditure

Classification by expenditure is generally namely;

Recurrent budget This is a budget for items thatappear every year. It is basically meant for the generalrunning of the schools e.g. activity, RMI etc

Projected / Development budget

This is a budget for a distinct activity which is not for therunning of the school. Once it has been executed and theproject accomplished, it will not appear again e.g.

construction of class room, laboratory, dormitory andpurchase of a bus etc. normally banked after collectionsseparately in PTA savings A/C.


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Budget ApproachBudget Approach

A school budget can be approached from twoperspectives. Expenditure Approach

This is the approach where you first list down your

projected expenditure and get the total, and then youstart looking for how to raise income to finance thatexpenditure. Income Approach

This is the approach where you first list down yourprojected income and arrive at a figure. You then startarranging your expenditure according to the projectedincome. Normally it is advisable for a school to adoptthis approach because the projected income is normallyfixed by way of fees guidelines and from the ministry.


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Some of the Factors that may limit the implementation ofSome of the Factors that may limit the implementation ofa budget in a schoola budget in a school

Poor fees collection

Reduction in enrolment of students

Natural calamities floods, wind Student strikes

Change of government policy (policies) in

the middle of the year i.e. release of withheld certificates without any payment

Inflation


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Budget ApprovalBudget Approval

Budget for the following year should be tabledbefore a full small management committee inthe third term of the current year, preferably in

October.In addition to the approval of the BOG,PTA and DEB, PTA projects should also have

the following information right from thebeginning.

a. Estimated costsb. Source of funds

c. Time frame (period of the project)


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FINANCIAL MANAGEMENT IIFINANCIAL MANAGEMENT IIBOOK KEEPINGBOOK KEEPING

Book keeping is the analysis, classificationand recording of financial transactions inbooks of accounts.


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WHY DO SCHOOLS NEEDWHY DO SCHOOLS NEEDACCOUNTSACCOUNTS

Making a basis of financial planning andbudgeting

Keeping a record of the financial transactions

effected by the institution to assist in financialmanagement by the managers.

Storing financial information for interested

parties Fulfilling the government requirement on publicfunds


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DOCUMENTS TO BE KEPT BY THE SCHOOL WHENDOCUMENTS TO BE KEPT BY THE SCHOOL WHEN

EFFECTING BOOK KEEPINGEFFECTING BOOK KEEPING

This is a document used to acknowledge receiptof money. A good receipt should; Bear the name, address and telephone (if any) of the

school

Date Show vote heads under which money is received Be serialized Printed in duplicated or triplicates

Mode of receipts (cash money orders) etc Signature of the person receiving Name of student Admission number of the students


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Payment voucherPayment voucher

This is a document used to make payments. A goodpayment should have the following ingredients. Name and address of payee

Date of transaction

Narration (reason for payments) should be self explanatory Vote head charged

Amount in words and figures

Cheques number if payment is done by cheques

Payment voucher number running serially throughout the year

Bursars / accounts clerks signature


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Cash BookCash Book

This is a book where all the money received, paid,This is a book where all the money received, paid,banked or withdrawn from the bank are recorded.banked or withdrawn from the bank are recorded.The ministry recommends (GrantsThe ministry recommends (Grants--inin--aid). Itaid). Itshould be written as regularly as the transactionshould be written as regularly as the transaction

occur. Total per vote head are transferred to theoccur. Total per vote head are transferred to theledger every month.ledger every month.

LedgersLedgers

This is a book which summarizes the transactionsThis is a book which summarizes the transactionsof every vote head monthly. It is from here that aof every vote head monthly. It is from here that atrail balance is prepared.trail balance is prepared.


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Writing of a Cash BookWriting of a Cash Book

The cashbook is divided into two. That is, the left hand side recordsreceipts and is technically known as debits (Dr) while the right handside records payments and is technically known as credit (Cr).Therefore, all the receipts in monetary or financial terms arerecorded on the left hand side of the cash book. While all paymentsincluding bank charges are recorded n the right hand side of thecashbook.

Cashbook must be written in daily basis and at the end of each day,cash on hand should be reconciled. That is physical cash with thecashbook figure.

The writing of the cashbook should be done by use of documents oforigin or source documents. They include: -

Receipts Payment vouchers Bank pay in slips Withdrawal forms (slips) Bank credit notes

Bank debit notes


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Trial Balance Trial balance is a list of accounts from the ledger

showing their debit and credit balances in separatecolumns. Its extracted on a monthly basis cumulativelybefore the preparation of other relevant financialstatements like income and expenditure and balancesheet. The receipts should equal the payments.

Purpose of Trial Balance To check the arithmetic accuracy of the institutions

accounting records. To ensure that book keeping principle of double entry

has been taken into account, i.e. for every debit entry,there must be a corresponding credit entry and viceversa

Analyze the expenditure trends per vote head balancesagainst the budget can be taken where necessary.


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Income and ExpenditureIncome and Expenditure

It summarizes all the income andexpenditure of an educational institutionfor a period. It is an equivalent of profit

and loss account in trading companies ororganizations.

All the monies received and those spent

are added up. The differences between thetwo totals may either be a surplus or overexpenditure.


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PROCUREMENT PROCEDURES INPROCUREMENT PROCEDURES INEDUCATIONAL INSTITUTIONSEDUCATIONAL INSTITUTIONS

IntroductionIntroductionThe biggest amount of school funds are

used in the procurement of various goodsand services. To ensure that these fundsare properly utilized, procurementprocedures are therefore put in place.


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DefinitionDefinition

Procurement is the process of acquiring goods, works and services foran organization.

The procedures of undertaking such a process are clearly articulatedin the public Procurement Regulations 2006 (Legal Notice No. 174).

The head of the institution has to observe procurement procedures

that ensure quality goods/works/services are acquired atcompetitive prices. This will enable the institution to have adequateresources necessary for effective budget implementation.

In the budgeting stage, the requirements and respective costs areidentified. Based on the magnitude of activities and cost, anappropriate procurement method is chosen. This gives rise to aprocurement plan, which articulates the requirements / needs to beacquired and the various steps in the procurement process withrespective time schedules. Whereas, the budget is approved by theSMC, the procurement plan shall be approved by the tendercommittee, a body charged with the responsibility of procurementof goods / works / services in an institution


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Objectives of ProcurementObjectives of ProcurementProceduresProcedures

Enhance transparency and accountability of funds ensuring thatthe stakeholders get value for their money.

Enhances efficiency by ensuring that entities acquire qualitygoods/works/ services at reasonable prices.

Increases integrity and public confidence.

The various procedures adopted ensure that there is fairtreatment of suppliers and therefore for suppliers to get an order,their products must be of good quality and reasonable price.

Procurement Cycle Means the cycle that starts with the initiation of the process of an

individual procurement requirement and when the goods/worksor services have been delivered and accepted.


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A. Tender CommitteeA. Tender Committee

For procurement to be done as required, a procuring entity needs toset up a tender committee. In case of schools, the composition is asbelow: -Position Details

Chairperson The Deputy principal appointed in

writing by the Principal Deputy Chairperson The officer in charge of finance or

equivalent appointed by the PrincipalAt least 6 Heads of Department ormembers of teaching staff includingmatron or officer in charge of boarding

facilities where applicable appointedin writing by the Principal Secretary The officer heading the procurement unit

The quorum for the tender committee is 5 members including thechairperson. The principal shall appoint an alternate member foreach member of the tender committee and only the alternate shallattend any meeting of the tender committee whenever the memberis unable to attend.


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Tender Committee ContdTender Committee Contd

Responsibilities of the Tender Committee

Ensure that procurement and disposal is done within the regulationsand the Acts.

Approve the selection of the successful tender or proposal Award the procurement contract

Ensure that the procuring entity does not pay in excess of the prevailingmarket rates Review the selection of procurement method and ensure adoption of

any other that is within the Act. Pre-qualification of suppliers for restricted tendering, request for

quotations / proposals. Review tender documents and requests for proposals to be in line with

the Procurement Act / Regulation 2006 Approve variations of contract conditions of contracts previouslyawarded by the committee.

Approve bids through open tender for sale of the institutions storesThe tender committee undertakes the procurement process with assistance of

other sub committees.


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Tender Committee ContdTender Committee Contd

Procurement Committee This committee is responsible for procurement of goods / works / services

whose value does not exceed Kshs. 500,000.00 using the direct procurementor request for quotations methods.

Composition Chairperson An official delegated by Head teacher

Other members Finance or officer carrying related activities 3 other members appointed by the Head teacher

Quorum for meeting Chairperson and at least two other members. Anymember who is unable to attend meeting may delegate to another personbut such a person should possess the necessary skills/experience torepresent him / her in the meeting.

Decisions of the procurement committee shall be by consensus and where there

is no consensus, the decision shall be through voting by simple majority.Where there is a tie, the chairman shall have a second or casting vote.

The procurement committee may invite independent advisers or members ofthe procurement unit to explain submissions or provide technical advice,where required the committee can: -

Approve submission Reject a submission with reasons

Approve a submission subject to minor clarifications by the procurementunit


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B.B. Evaluation CommitteeEvaluation Committee Consists of chairperson and at least 2 members all appointed by theaccounting officer or the Head of the procuring entity upon

recommendation by the procurement unit. Charged with the responsibility of the technical / financial

evaluation of tenders and give report to the tender committee.Members of this committee should not be those in tender committee one should be from user department.

The evaluation committee shall undertake the tasks of: - The technical evaluation of the tenders or proposals received in

strict adherence to the compliance and evaluation criteria set outin the tender document.

Performing the evaluation with all due diligence and within aperiod of 30 days after opening of tenders.

Each tender received is assigned a rating by the committee and sucha report with recommendations is submitted to tender committeefor the final decision.

Note: the evaluation and comparison shall be done using theprocedures and criteria set out in the tender documents and noother criteria shall be used.

A worked example on evaluation given on the lesson plan attached


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C.C. Inspection and AcceptanceInspection and AcceptanceCommitteeCommittee

Comprised of a chairman and at least 2 members appointed by the accounting officeror the head of the procuring entity on recommendation of the procurement unit. Purpose to inspect and review the goods / services to ensure compliance with the

terms and specifications of the contract.Accept or rejects goods, works/services on behalf of the procuring entity.

Pre-Qualification of SuppliersAdvertisement in local dailies for bidders to know of the prequalification and declare

their interest in participating and demonstrate their ability in a given business.Prospective bidders are given standard application forms to complete giving out thenecessary data and return them for evaluation just like an open tender. Those whoqualify are then requested to bid on appropriate bidding documents.

The following information is normally requested for pre-qualification: Contractors identification

Experience and performance Personnel Equipment Financial status Present commitments Personnel and equipment available for the proposed project Any other relevant information on the project


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C.C. Inspection and Acceptance CommitteeInspection and Acceptance CommitteeContdContd

Procurement Methods Depending on size and nature of transaction involved,

the entity may use any of the methods here below toprocure goods /works / services:

1. Direct procurementOpen tenderNational competitive bidding

2. International competitive bidding3. Restricted tender4. Request for quotations

5. Request for proposal6. Low value procurement7. Use specifically permitted procedures


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Direct procurement used where no reasonablealternative exists dealing with only one bidder.

Open tender advertisements made in dailies of widecirculation nationally and internationally.

Restricted tendering this method is available for largeand complex contracts. This method is justified in viewof the cost involved in preparing tenders for complexand specialized goods, works or services and thedesirability of avoiding tenders from unqualifiedbidders. Most complex project contracts are often let

through this method, the bidders are first selectedthrough pre-qualification.

Request of quotations it is used for readily availablegoods / works / services. At least 3 quotations arereceived before selection process maximum 10 out of

pre-qualified suppliers.


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Request for proposals applicable for services ofintellectual nature. At least 3 proposals maximum 7 outof those who expressed the interest.

Low value procurement applicable if use of the other

methods will be time consuming and can cost more thanthe cost of goods/services/works for goods whose valuein budget does not exceed kshs 5000.00 If the procedure is not being used for the purpose of

avoiding competition. The use of the procedure has been recommended by the

committee after market survey. Use of specially permitted procedures- where the

market conditions or behaviour do not allow effectiveapplication of the Act and Regulations i.e. in use offrequent fluctuations of prices e.g. maize.

For specialized or particular requirements that are


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D.D. Disposal CommitteeDisposal Committee

Members

An officer in charge of finance

The head of procurement unit who shall be secretary

The head of the accounting department Two heads of departments and user department

The committee shall select a chairman from among itsmembers

The disposal committee will first meet within fourteen

days of its appointment and subsequently at least oncein every quarter.


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STORES MANAGEMENT Stores management is the process of planning,organizing and coordinating all the stores activities ofan institution. It is absolutely necessary for thepurchased goods, works, and services to be put inproper use as intended by the procuring institution.

The procuring institutions, therefore has to establishand maintain such control of stores as will be kept tothe minimum consistent with the need.

In replenishing stock, inventory is considered to becomposed of active inventory which is that portion

carried to satisfy average expected, and safety stockwhich is that portion for protection against stackdepletion accruing when demand exceeds averageexpected demand, or when lead time is longer thananticipated.


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STORES MANAGEMENTSTORES MANAGEMENT

It is also necessary that, when establishing active stock levels,average demand of individual items, space availability, movementcosts and inventory carrying costs should be considered.

It is worth noting that; the Principal who is the accounting officer isdirectly and financially responsible for the efficient performance ofsupplies function within the school or institution. However, by

delegating the responsibility to officers or teachers he or she makesthem personally or financially responsible for under taking thesupplier task allocated to ensure.

Supplies of any kind are safeguarded against loss, damages,misuse or deterioration or

Supplies functions are carried out efficiently and aseconomical as possible for effectiveness.

NB: Accounting for stores therefore implies providing clear andaccurate records of their purchase, receipts, location and disposal.


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STORES MANAGEMENTSTORES MANAGEMENT

Importance of Stores Management Enhances proper planning of procurement of goods Ensure proper accountability Guards against loss of stores hence ensures optimum use Enhance prudent decision making Ensures that the right quantities and qualities are delivered to the

school Ensures timely deliveriesNB: Stores management therefore entails receiving, verification and

recording of goods. The goods when delivered from the supplier should be

accompanied by a delivery note, invoice which should be comparedwith a copy of local purchase order which remained to the institute


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TYPES OF STORES The stores can be classified on the basis of cost, durability and

identityPermanent stores They are those which stay for more than two years. They a re

recorded in permanent stores ledger and they include: - Furniture: - tables, chairs, cabinets, cupboards and sideboards Machinery: - school bus, tractors, televisions, computer, typewriter,

duplicator Science equipment: - voltammeter, galvanometer, microscope

Consumable stores They are those that change their nature form on being used or

are incorporated as fixture in works and in addition item whichretain their identity in use but an initial value of less than 10/-.They can also be called perishable stores. They are recorded inconsumable stores ledger and they include: -

Food stuffs vegetables, beans Building materials cement, iron sheets Fuel Office stationery duplicating papers


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Expendable stores They are those that are neither permanent nor consumable. They

are recorded in expendable stores ledger and they include: -

Science equipment such as Glassware Test tubes Flat bottomed flask Black wall ruler

Boarding equipment such as Bedding, sufurias

Text books Inventory books should be maintained by each person or department to

whom/which permanent or expendable stores are issued. It is illegal forany person to have institution/school property not entered into theinventory.


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Stores documents commonly used

The under mentioned are the documentcommonly used in institution

Requisition form

LPO and LSO

Delivery note

Invoice

Cash sale receipt

Official rubber stamp / stores rubber stamp


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STOCK TAKING / PHYSICALSTOCK TAKING / PHYSICALCHECKSCHECKS

What is stock taking?

It is an independent physical counting andverification of remainders (balances) being

compared with the record balance. It should be done: -

To check the condition under which stores are kept

Verify the order (accuracy) of stock records

Check whether there are losses and damages orpilferage done on stock


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POOR STORES MANAGEMENTPOOR STORES MANAGEMENTMETHODSMETHODS

The requisition, purchasing, paying officers are not using any of the abovementioned documents i.e. LP, LSO, ledgers invoices and delivery notes.

Orders are made verbally where bursar/accounts clerk meets the supplierin offices,, streets and a deal is made.

The supplier/producer/seller does not use any business documents e.g. Order forms

Catalogue Delivery notes Invoice LPO

These documents must be received by institution. Good/stores are delivered into the stores without the knowledge of bursar

or principal. Suppliers are keen to avoid the offices of the important peopleuntil after some time when he/she appears for payment.

Payment to the supplier too, does not follow any laid down procedures e.g.inspection of the de livery stock checked and counter checked with thedelivery note.


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Note: All procurements in the schools should be done as per the

procedures laid down in KESSP and the ACT, 2005. No any other

procedure should be used. Stock control in the maintenance of stocks at the appropriate levels

to satisfy customer requirements at the minimum costs. Lead time is the length of time from the notification of non

availability of an item to the time is purchased and is in the store. Minimum stock level is the quality of stock below which stocks

should to be allowed to fall before a new order delivery is receivedto replenish the stocks. Maximum stocks level is the highest quality of stocks which is

expected to be achieved when a new delivery for replenishment ofstock is received.

Re-order level is the quality of stock for a particular item when

action to place a new order is taken. Reserve or buffer stocks are extra stock for critical items to take careof increased demand or lengthened lead time.


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ETHICS AND INTEGRITY IN FINANCIAL MANAGEMENTOF FREE SECONDARY EDUCATION

Introduction In management of resources which includes human,

financial, material, tools and equipment requiresethics and integrity from school management. Ethicsrefers to the concept of what is right and wrong,moral and immoral. That is doing what the societyexpects and accepts.

Corruption on the other hand, entails misuse of onesoffice for private gain or unofficial end. It involves

both monetary and non-monetary benefits. That is,bribery, extortion, influence, peddling, nepotism,scams, frauds, grease money, and opportunismreadily springing to mind.


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Factors facilitating corruption

Weak and unaccountable enforcement institutions.

Poor design of oversight and monitoring institution.

Gaps in procurement integrity. The need to service patronage network in politics

Weak political commitment to fight corruption.

Stark disparities in income

Lack of freedom of access to information

Lack of protection for whistle blowers Judiciary being perceived as corrupts

Desperation within the citizenry: - People have given up on

any feasible solutions to their problems and naturally acceptingthe status quo.

Corruption prone areas

Planning, budgeting and book keeping.


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Lack of records showing all funds received from multiple sources. The school may

receive funds from FPE program, CDF, LATF and other donors. Lack ofrecords increases temptation.

Lack of specific guidelines on maximum number of bank accounts a school is

required to pen and maintain. This creates opportunities to open otheraccounts which would be used to receive and siphon individual grant.

Selection of projects for personal interest rather than the schools interest conflict of interests.

Implementation process favouring particular supplier or pay off. Contracting through irregular process to corrupting firms and suppliers

Misuse of value information.

Corruption prone areas

Appointment of committee members Changing the rules

Selection of tendering methods

Exaggerated costs or prices

Information leakage External influence

Delays

Quick awards Poor quality goods Loop holes

Toll stations

Hoarding information


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How to combat (control) Corruption Ethical education is central in preventing corruption by fostering

attitudes that do not tolerate corruption among the new generation. The creation and maintenance of transparent regulatory systems,

strengthening management capacities for greater accountability andenhancing ownership of management process that helps build avirtuous tricycle that is favourable to educational systems free fromcorruption. Therefore, there is need.

To combat corruption, there is need for Clear norms and regulations, transparent procedures and explicit

policy framework specifying, for each of the steps involved, thedistribution of responsibilities between different stakeholders in theallocation, distribution and use of educational resources,

Improving skills in management, accounting monitoring and auditare basic requirements for reducing corruption in education. Bettertraining of not only administrative staff at the different levelsinvolved, but also of other stakeholders in the system, such as PTA,

unions, SME s and other relevant civil society organizations, shouldbe considered accordingly. Accessing information for both the public at large is indispensable

for building participation, ownership and social control.


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CONCLUSIONCONCLUSION

Grafts affects the countrys education system byundermining the rule of law, eroding fairness,violating human rights, facilitating organizedcrimes and deterring foreign investment.

It is therefore prudent that financial

management is upheld in all aspects ofeducational institutions management to ensurethe stakeholder gets the value for money.

Cash Book-Makamisi - Presentation

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