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New lessons for Teachers, Parents on School Funds

laws governing transparency and accountability, accounting and reporting, safeguards and information disclosures and school facilities and equipment management.

Auditing of school books of accounts and handing over and taking over in public primary schools are also part of the areas the managers are being taken trough.

Schools receive government capitation per learner, per term. The Funds are disbursed in three tranches in the percentage ratio of 50:30:20 for first, second and third terms respectively.

A brief by Ministry of Education says that the refresher training aims at ensuring that policy guidelines are well internalised by key stakeholders and implemented by all schools. It also seeks to equip chairmen of BoMs, head teachers and deputy head teacher with skills to ensure full compliance to the Policy Guidelines.

It however, emerged that separately, the training will be expanded to include all schools in compliance with the recently released financial reporting format for public institutions that also altered their reporting periods.

This is after the Public Sector Accounting Standards Board (PSASB) in collaboration with the National Treasury prescribed a financial reporting template for public schools. According to the new plan, all public secondary schools financial reporting period shall now be from July 1to June 30, in line with r Government Financial Year.

Previously, public secondary schools re- ported their finances over a calendar year that runs from January to December.

Following the release of the reporting for mat, the Ministry of Education, through a circular, directed all public secondary schools to comply with the new financlal reporting fomart.

In the circular dated August 19, 2021, Ba- sic Education PS Julius Jwan said the Ministry of Education will organise sensitisation programmes for heads of schools, bursars, boards of management, non-financial man- agers and other stake holders.

The new directive now means that schools that had submitted their financial statements for the financial year ending December 31, 2020 shall prepare six months financial statements up from January 1, 2021 to June 30, 2021.

And schools that had not submitted their financial statements for the year 2020 shall prepare the statements for a period of 18 months from January 1. 2020 to June 30, 2021.

Overall, the reporting initiative is aimed at increasing efficiency, transparency and accountability in public secondary schools. Transparency and accountability in financial management is paramount to the continuity and sustainability of learning institutions as they seek to provide knowledge to the current generations and in posterity. read the guidelines for implementation of IP- SAS by public secondary schools.

The document is signed by PSASB Chief executive, Fred rick Riaga .

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BoMs Ministry of Education

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