Business

Education, identified as the countrys largest public service provider, is one of the most critical institutions in society and thus, there is a need to ensure that it is not just operating effectively but also optimally utilizing its resources. To be able to do this, there is a need to understand how public school funds are being managed, used and evaluated. In the article Accounting Public School Budgeting and Auditing - Budgeting, Accounting, Auditing, Future Trends, budgeting, accounting, and auditing are considered to be the main financial functions in education institutions. The article then highlights how each independent function is influencing future trends in education particularly the interaction of federal, state and local administration perspectives on school privatization and how resources are being allocated.

In general there are is greater realization of the growing challenge for government to deliver quality education due to financial limitations that are limiting the capacity for capital improvements, improving technology adaptation and developing more student-centered programs. The article further points out that regardless of the size of the organization, more and more, educational institution are being challenged to adapt better management practices in developing their financial management infrastructure. This is considered to be as the best means of developing capacity to improve financial assessment of needs, objective setting, planning and response and evaluation. More importantly, this emphasizes the great accountability of administrators and the educational system as a whole to the public in consideration of the vast resources allocated for education. In conclusion concurring with the articles opinion, there is no denying that public schools need to improve financial management practices since they are the core of the countrys education efforts.