Financial Management in Schools

Which of the following is not a source of school funds?

• Grants from government

• Student fees

• Donations

• Repairing out school facilities

Which of the following vote head caters for salaries and allowances of staff

• Tuition expenses

• Local transport and travel

• Repair, maintenance and improvement

• Electricity, water and conservancy

• Personal emoluments

What is the purpose of the school budget?

Which of the following is not a type of budget plan in a school?

• School master budget

• Development budget

• Departmental budget

• static budge

What does procurement mean?

Answer explanation

the process of acquiring the goods and services a company needs to operate, such as raw materials, equipment and business services.

What is the definition of tendering?

Which of the following is not a type of tendering systems?

• Open National Tendering

• quotation

• Negotiated tendering

Which is the most preferred type of tendering systems?

• Open National Tendering

• Restricted tendering

• Negotiated tendering

• Direct Tendering

• Competitive tendering

What is the process for Open National Tendering?

• The opportunity is advertised inviting provider to bid directly for a contract.

• The advertisement is placed in at least three daily newspapers of nationwide circulation.

• Allow 28 days for preparation of tenders in open tendering.

• All interested parties submit their written tenders in sealed envelope and place in a lockable box marked clearly 'TENDER BOX'.

• Opening of tender is done by tender committee and minutes taken to indicate the procedures followed and representatives of tenderers present.

What is the minimum number of bidders required for Restricted tendering?

• Two

• Three

• Five

• Ten