Abstract
Financial management in educational institutions is not only an issue of discussion but also a challenge to be encountered by the institutions for their healthy growth. This Paper highlights some ethical Principles of financial management to be followed in educational institutions. The paper has also aimed to focus on the requirement of financial management in public schools. The challenges of financial management identified in the small sample of the public schools of Assam has also analyzed in the paper. Investigator has tried to cope up few suggestions for the sound financial management practices in the public schools of the state. Due to the popularization of the concept of School Based Management, the Govt. of India has also initiated the process of communitisation of schools. So, it has become essential to evaluate the mechanism of financial management in public schools. The paper is based on both Primary and secondary data source. The study found that lack of training, lake of computerized mechanism, lack of human resource were the major challenges for healthy financial management practices in the investigated schools.
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