Abstract

In 1996, the Schools Act No. 84 of South Africa was promulgated. In the Schools Act, school governing bodies (SGBs) are mandated to manage the administration and finances of schools. The Act also provides guidelines for the SGB and the principal on their roles and responsibilities in managing the finances and leadership management of the school. However, some members of SGBs and principals either have little knowledge of the Schools Act or simply interpret it incorrectly, which results in many schools experiencing mismanagement which leads to the underperformance of the schools. Although the Western Cape Provincial Department of Education provides financial management training for SGBs, many schools still encounter problems in this area. When financial problems are referred to the department of education, many remain unresolved. The purpose of the study was to determine the perceptions of stakeholders on the financial functions of SGBs, to explore the functions of an SGB in managing a school's finances and, based on the findings of the research, to develop guidelines for principals and SGBs to enable them to manage their school funds efficiently and effectively. The research design was based on qualitative research because of its exploratory, descriptive and contextual nature.

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