Financial Management for TVET Managers

Financial Management for TVET Managers

Course Descriptor
This module covers financial planning and management of a TVET institution. It addresses the knowledge and skills to be acquired to effectively implement financial control and budgeting, asset management and procurement of supplies at the level of a TVET institution. Sound practices in financial management are requisites for effective resource management and in fulfilment of an institution’s commitment to its stakeholders and its own objectives.

Background

The TVET sector in Kenya falls under the Ministry of Education. The public TVET institutions in Kenya are funded by public funds. The concept of public finance expenditure and management requires the prudent management of public resources by public officers for the purpose of providing services to citizens. The Public Finance Management (PFM) Act 2012 sets out to promote transparency and accountability in the management of public finances. It is therefore imperative that all TVET managers/leaders understand the Public finance management cycle.

Learning Outcomes

1. Demonstrate an understanding of the basic concepts and terminologies used in budget preparation.
2. Demonstrate the ability to draft a basic annual budget for a TVET institute.
3. Understand approaches to financial tracking and reporting.
4. Understand approaches to procurement.
5. Demonstrate knowledge of relevant government regulations and policies.