Education Funding Sources

Sources of Finance Mobilization in Education

• Education funding comes from various sources
• According to Eresimadu (19??)

School Fees

• These are funds collected from students for registration and other charges
• School fees are used for the school's operational costs

Education Levies

• Taxes on companies or individuals are used by the government to fund education
• For example, the Tetfund in Nigeria.

Taxes

• Funds are designated as grants, coming from the federal account
• These funds come from taxes and natural resources

Endowment Fund

• Funds raised by wealthy people to aid education
• This can happen at the community or village level

Investment and Business

• Educational entities invest in ventures that yield profit
• Profits assist private and government educational funding

Finance Management

• According to Panday (1995) in Maihotra, Sigh and Sharama (2003), it involves the planning and controlling, procurement, expending of funds and accounting of money to implement an organization's programs
• It includes how to source and explain how funds are spent
• The obtaining, spending, and accounting of funds must align with regulations

Meaning of Records

• Records are the written or material facts, events or activities used as references for schools or any organizations
• Records show what schools, students, and teachers do
• They help with planning and getting rid of wastes

Types of School Records

• Class Attendance register
• Log book
• Visitor's book
• Punishment book
• Staff movement book
• Diaries and record of work book
• Syllabus
• School leaving certificate
• Admission register
• Staff minute book
• Teacher's record of work
• Stock book

Importance of Keeping School Records

• They inform parents of students' performances
• Records provide info to government for school improvement
• Higher learning institutions gain insight into student admissions
• Employers use the records to decide on employment
• Record keeping informs on financial condition
• Records enable smooth transitions
• Records build connection between schools and other agencies.

Quality Control of Records

• The school head ensures records are kept safe and secure
• Lack of quality control leads to lost information that can't be recovered
• Quality control means the school head is keeping all information and taking measures for safeguards and referencing
• The first step in maintain quality control is providing staff minutes, work records, a movement book, etc.

Steps in Quality Control of Records

• The school head ensures records are being properly recorded through monitoring and supervision.
• Staff meeting minutes are taken, the staff movement book and syllabus are followed as designed
• The school head must provide equipment for keeping records like cardboard, safe, cabinet and other security materials
• Proper environmental cleanliness needed to prevent fire outbreaks or insect damage
• School heads should give incentives to encourage staff to keep records better

Concept of Monitoring and Evaluation of School Programme

• Monitoring includes checking the activities of an organization to ensure they follow the rules and assist in goal attainment, and it happens at all levels of a program
• Monitoring ensures human and material efforts are being guided and properly placed
• Evaluation judges effectiveness, desirability of product and progress, finding level of achievement.
• To achieve effective and efficient programs, school management must take measures through monitoring and evaluation

Types of Evaluation of School Programme

• Formative Evaluation: Evaluations happening within a program, measuring compliance and correcting deviations
• Summative Evaluation: Evaluations happening at the end of a program, after it ends, which provide success/failure information
• Examples include West African Examination Council (WAEC) and National Examination Council (NECO)

Importance of Monitoring and Evaluation of School Programmes

• Influences future decisions in the school
• Saves resources from actual plan deviation
• Evaluation keeps stakeholders on task and time for collective goal
• Helps manage resources properly
• Provides data for future educational programs and plans

Concept of Ethics

• Ethics are the science of right and wrong, moral principles, moral judgment and conduct.
• Ethics analyzes, classifies, describes, explains human actions as good or bad, guiding human action.
• Ethics are guidelines suitable for better living

Ethical Pillars in Education Delivery and Management

• Prioritize student well-being in all decisions and actions.
• Integrity and honesty in profession
• Encourage due process and civil/human rights for all
• Adhere to laws of regulatory agencies at all levels.
• Implement governing board policies and rules.
• Prevent using position for gain, political, religious, social, economic or other influences

The Teacher

• Trained individual, college or university-certified to train others
• Expected to show professional behaviours to students and the public
• Involved in transformative acts, changing human behaviour and society

Ethics of a Good Teacher

• Mastery of subject matter is needed to gain respect
• Acceptable behaviour should be portrayed to students and the public
• Cleanliness and appropriate dress is important
• Equality, regard and justice should be upheld, changing student behaviours
• School management and the law should be respected
• Punctuality in lesson and other programmed attendance

School Proprietor

• Establishing a private school, with permission at all levels
• At university, colleges and polytechnics, the owner is referred to as visitor
• Sole financier inside private schools but follows syllabus and rules from agencies like National Universities Commission (NUC) etc

Council/Board

• Individuals in a committee by the government or school, setting rules and approving practices
• Council/Board acts as the liaison between management and other hires
• Board must respect ethical guidelines for better work.

Learner/Student

• A person in a school system who must obey rules.
• Students have rights in the school.