Training to increase financial knowledge

PRINCIPALS, head teachers and financial controllers in Morobe are undergoing a financial management guidelines training for elementary, community and primary schools.
It is funded by the Australian government.
The training is to help school heads and financial controllers understand how to manage the various components of income and expenses to improve school infrastructure, teaching and learning.
Training facilitator and provincial secondary schools inspector Gesengsu Aisi said record-keeping and reporting of identified school income sources prevented the misuse of school funds.
Aisi said keeping records of funding from the tuition fee-free subsidy, school projects, district services improvement programme, fundraising, billboards, donations and hire of school facilities was important.
The participants are St Martin’s, Muya and St Paul’s Primary, Morobe, Salamaua, Aseki and Menyamya high schools, Bugandi Secondary and Wawin National High School.
He is assisted by Huon Gulf education manager Moses Wanga.
The training includes the TFF and subsidy policy, school income and expense, how to prepare budgets and budget components, maintaining financial records, twice yearly school income and expense acquittal reports and the accountability of schools in financial management.
The participants are also trained on how to realign school expenses under school learning and the improvement programme (SLIP)
structure by prioritising school needs.