Abstract:
The South African Schools Act 84 of 1996 prescribes how schools should manage their finances and involve their stakeholders in financial management decision-making. The relevant literature reveals that principals in many schools situated in township and rural areas play a dominant role in the financial management of their schools which is contrary to the prescriptions of the South African Schools Act. This study aimed to identify financial management decision-making processes utilized in fee-paying public primary schools, the factors that influence financial management decision-making and the role and influence of individual stakeholders in financial management decision-making. The study followed a qualitative research approach with a multiple case study research design. Five fee-paying public primary schools were purposively selected. Participants included governing body chairpersons, principals and financial managers of the schools. Data was collected by means of semi-structured interviews and document analysis. The findings from the data suggest that financial management decision-making processes utilized in fee-paying public primary schools are: needs analysis, budget drafting and procurement processes. The study also reveals that members of school governing bodies (SGB) in fee-paying schools situated in affluence areas are educated professionals who, as required by the South African School Act, exert a strong influence in financial management decision-making in schools.
