What is the financial management function in a school setting?

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Rebecca Hunt Profile
Rebecca Hunt answered
The financial management position in a school setting is called the bursar. Its duties include setting budgets and negotiating with vendors who sell school supplies. By performing their duties, they free up teachers and the other school administration staff to do their duties without worrying about the financial side of the business.

The role of the bursar has evolved over the years to include many other tasks. The bursar can also include financial reporting as well as being involved in fundraisers for the school and helping with other school officials to figure out how to best use the available resources. Their job may also include management of support staff such as teaching assistants, catering staff, and the custodial staff.

  • Some other duties a bursar may assume
These include health and safety, relationship management and human resources. In secondary schools a bursar may have a broader and much more strategic role. In primary schools, the job of a bursar may be more hands on as they spend more time on detailed administrative and financial tasks. The position has evolved to the point that professional qualifications are available through the National College for School Leadership and School Business Manager Development Program. Expect more programs like this to come about as this position gains even more importance in this day and age of tight budgets and waning state support. The education at these places of learning takes place through face-to-face sessions, self-directed study, or by an e-learning class over the internet so the accreditation is available to anyone who wants or needs it.

  • Bursars are essential to the smooth running of any organization
The bursar or school financial management function is crucial in private schools, and most people who land jobs in these institutions have previous experience in another school. It is also now a more important function in public schools as states face a financial crunch and cannot deliver as much funding as in previous years.

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