BEST PRACTICE IN FINANCIAL MANAGEMENT OF SCHOOL UNDER BANGKOK METROPOLITAN ADMINISTRATION

Abstract

                The objectives of this research aimed to identify ; 1) the best practices in financial management of school under Bangkok Metropolitan Administration, 2) the summary of the best practices in financial management of school under Bangkok Metropolitan Administration and 3) the result of the confirmed excellence in financial management of school under Bangkok Metropolitan Administration. Case studies of this research were 6 medium size of schools under Bangkok Metropolitan. The informants included the school principals, and teachers responsible for finance in school under Bangkok Metropolitan totally 18 persons. The research instrument was divided into two components as documentary survey, and semi structural interview. For data analyzing, it was done by contents analysis and information classification.

                The research findings:

                1. The excellent practice in financial management in school under the jurisdiction of Bangkok Metropolitan Administration proceeded the financial management on the Deming cycle (PDCA) as follows: 1) Financial management 2) Financial and Accounting Management 3) Inventory Management 4) Evaluation and reporting of budgets.

                2. The conclusions of best practice guidelines for financial management in school under the Bangkok Metropolitan Administration were seen as follows: 1) Financial Management must have the knowledge of procurement regulations with good governance and participation 2) Financial and Accounting Management strictly follow the rules and regulations, avoid duplication, and follow up to ensure operating in the correct functions. It also encourages accountants to keep their accounting knowledge up to date. 3) Supplying Management (materials, equipment, land and constructions), the government officials, teachers and personnel inform requirements, follow material regulations, and control the material disbursement by Making sure that you have the right information, and distribution of materials. 4) Financial evaluating and reporting, it recommended to keep following up regularly, decentralized of decision making, reduced the red tape management process, used the new technology that provide the management more convenient and transparency and also could be properly inspected.

               3. The results of the best practice guideline for financial management in schools under Bangkok Metropolitan Administration concluded that the best practices were appropriate, consistent, useful and applicable. The persons involving financial management should study the rules and regulations to ensure that budgetary operations are accurate. This is a guideline for financial management. It is important to make the budgeting achieve the goal and the excellence in three ways: participation of personnel, timely implementation and verified evidence.