Official ministry of Education New financial management systems revealed
Ministry of Education New financial management, New financial management guidelines have been issued to educational institutions nationwide by the Ministry of Education.
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Several memos from county directors to school heads, referencing these guidelines, indicate that the Board of Management (BoM) must approve budget estimates for both revenue and expenditure for the institutions, along with a procurement strategy aligned with the approved budget.
One of the county directors emphasized in a memo that “a Board of Management of a public institution of basic education is required to prepare annual estimates of revenue and expenditure for the institution under its charge, in such form and at such times as the Cabinet Secretary shall prescribe, as per Section 16(1) of Part 1 of the Fourth Schedule of Basic Education Act, 2013.”
Additionally, school heads are instructed to compile a report within 15 days after each quarter of the fiscal year ends.
The memo specifies that “no later than 15 days after the end of each quarter, your institution must ensure that it prepares monthly trial balances and submits them to the County Director of Education (CDE) through respective Sub-County Directors of Education.”
The Ministry has directed principals to conduct and document cash surveys to verify the accuracy and completeness of cash on hand, and to complete monthly bank reconciliations promptly at the end of each month.
ministry of Education New financial management
They must also submit accounts for the revenue received and collected during each fiscal year for audit no later than three months after the fiscal year ends.
Principals are also directed to adhere to the instructions in the circulars dated January 30, 2019, February 12, 2020, and any forthcoming circulars regarding the approval processes for Transitional Infrastructure Grants (TIG) and Maintenance and Improvement Funds (MIF).
This directive was issued shortly after CS Machogu announced that school principals would soon be required to testify before parliamentary committees to address questions about the finances of their respective schools.
Speaking at the closing of the KESSHA conference in Mombasa, Machogu stated that schools are now under government oversight and must report to Parliament.
“My friends, we live in a developing world. And Machogu will no longer be answering questions on your behalf because secondary schools are now audit units,” he said.
Instead of having the Education CS or Principal Secretary respond on their behalf, legislative committees will now invite principals to answer directly.
Machogu also issued a stern warning to head teachers, stating that if they continued to enforce unauthorized levies, they would be called before the parliamentary committee.
