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EDA834Education2 Unitsintermediate

Budgeting And Financial Management In Education

This course introduces students to budgeting and financial management within educational institutions. It explores education finance terminologies, funding sources, and the budget process. Topics include budget preparation, financial administration at the secondary level, and payroll management. Additionally, the course examines the roles of government ministries and agencies in funding education, reasons for financial distress in universities, and problems in funding educational programs in Nigeria. It aims to equip students with knowledge of financial management in educational institutions.

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208h
Study Time
13
Weeks
16h
Per Week
basic
Math Level
Course Keywords
Education FinanceBudgetingFinancial ManagementEducational FundingPayroll Administration

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
➕
Math Level
Basic Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

Education Finance

2

Financial Management

3

Budgeting

4

Taxation

5

Funding Sources

6

Payroll Administration

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

School Administrator

Apply your skills in this growing field

Education Planner

Apply your skills in this growing field

Financial Officer

Apply your skills in this growing field

Bursar

Apply your skills in this growing field

Education Consultant

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

Education SectorGovernment AgenciesNon-profit OrganizationsEducational ConsultingFinancial Institutions

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1:

2h

Unit 1: Nature and scope of Education Finance and Financial Management

2 study hours
  • •Define education finance and financial management.
  • •Outline the scope of education finance and financial management.
  • •Discuss the reasons why educational administrators should be interested in education finance.
Week
2

Module 1:

2h

Unit 2: Important Education Finance Terminologies

2 study hours
  • •Define finance, fund, and financial control.
  • •Explain the importance of payment vouchers and authority to incur expenditure.
  • •Discuss imprest, virement, and cash management.
Week
3

Module 1:

2h

Unit 3: Government Sources of Funding Educational Programmes

2 study hours
  • •List the sources from which government funds educational programs.
  • •Explain how government grants constitute a source of revenue for education.
  • •Discuss the reasons for grants.
Week
4

Module 1:

2h

Unit 4: Non-Government Sources of Funding Educational Programmes in Nigeria

2 study hours
  • •Give reasons why individuals, communities, and organizations should fund education.
  • •List the non-government sources of funds.
  • •Explain how proceeds from school activities and communities can be viable sources of funding educational programs.
Week
5

Module 1:

2h

Unit 5: Taxation

2 study hours
  • •Define taxation and outline the reasons for taxation.
  • •Discuss the objections to income tax.
  • •Explain the payment of taxes by parents.
Week
6

Module 2:

2h

Unit 1: Introduction to Budget and Budget Process

2 study hours
  • •Define a budget and state its purposes.
  • •Discuss the importance of a budget.
  • •Explain the budget process.
Week
7

Module 2:

2h

Unit 2: Preparation and Administration of Budget

2 study hours
  • •Identify plans involved in budget preparation.
  • •Discuss criticisms of budget preparation practices of educational administrators.
  • •Explain the role of the educational administrator in budget administration.
Week
8

Module 2:

2h

Unit 3: The practice of school finance

2 study hours
  • •Describe procedures for managing funds at various levels of education.
  • •Explain how institutions maintain banking relations.
  • •Define forecasting as applied to cash management.
Week
9

Module 2:

2h

Unit 4: Classification of Educational Expenditure

2 study hours
  • •Define educational expenditure and classify its different types.
  • •Discuss various levels of expenditure.
  • •State the functions of educational expenditure and explain how principals account for funds.
Week
10

Module 2:

2h

Unit 5: Finance and payroll Administration

2 study hours
  • •Define payroll and describe its types.
  • •Discuss payroll procedures in secondary schools.
  • •Explain the effect of payroll procedures on personnel relations and efficiency.
Week
11

Module 3:

2h

Unit 1: The role of Government Ministries in Funding Education

2 study hours
  • •Discuss the role of the federal ministry of education in funding education.
  • •State the function of the state ministries of education in funding education.
Week
12

Module 3:

4h

Unit 2: The role of Government agencies and parastatals in funding of Education

2 study hours
  • •Discuss the roles of the State Primary Education Board in funding education.
  • •State the functions of the National Commission for Colleges of Education and National Board for Technical Education in funding education.

Unit 3: The role of Parents and Communities

2 study hours
  • •Discuss the role of parents in the funding of Education.
  • •State clearly the role of religious institutions in the funding of education.
  • •Discuss the role of the United Nations Children's Fund in the funding of education.
Week
13

Module 3:

4h

Unit 4: Reasons for Distress in Nigerian Universities

2 study hours
  • •Discuss the reasons for the financial distress in Nigerian universities.
  • •Proffer solutions for improvement.

Unit 5: Problems of Funding Educational Programmes in Nigeria

2 study hours
  • •Mention the problems of funding educational programs in Nigeria.
  • •Discuss the problems of funding educational problems in Nigeria.
  • •List strategies to solve the problems highlighted.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create a detailed study schedule, allocating specific time slots for each unit.

2

Review all tutor-marked assignments (TMAs) and their feedback to identify areas of weakness.

3

Focus on understanding key terminologies and concepts related to education finance and budgeting.

4

Practice budget preparation exercises to enhance practical skills.

5

Prepare concise summaries of each unit, highlighting key points and examples.

6

Form study groups to discuss challenging topics and share insights.

7

Review past examination papers to familiarize yourself with the exam format and question types.

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