Financial Management of School Heads in Magallanes Districts

This study examined the financial management practices of school heads in the Magallanes Districts of the Division of Sorsogon for the school year 2022-2023. Both qualitative and quantitative research methods were employed, with respondents including bookkeepers, disbursing officers, property custodians, and BAC chairmen from the North and South Districts of Magallanes. Questionnaire checklists and open-ended questions were utilized to assess the extent of financial management practices and encountered problems. Statistical tools were applied to analyze the data, and thematic analysis was used to identify practices and problems. The findings indicated that budgeting, accounting, procurement, and asset management practices were generally evident among the respondent groups, as reflected by highly computed means across these dimensions. Good practices identified included transparency, sound budgeting, long-term financial planning, and stakeholder participation. Based on the conclusions drawn, the study recommended regular planning and review processes to enhance financial management practices, providing school heads and their teams with sound strategies and training opportunities. Future research should expand the scope to include other respondents in the Division of Sorsogon Province and incorporate additional variables not covered in this study.