The need to save for investment in school business. скачать в хорошем качестве

The need to save for investment in school business.

An interview session with Rev. Laja Shoniran, The CEO and initiator of Initiative for Economic Literacy and Empowerment a.k.a Financial Literacy for All, a non- governmental organization championing the cause of financial literacy and inclusion in Nigeria and in Africa. He is a trained accountant and financial expert. What is the effective financial management system for schools? Schools generally deal with a lot of students and different activities, the management must look at each activity as cost centers to know if it is sustainable and make it profitable. For school, there must be other sources of income. A lot of people see schools as a money-spinner but a lot of money goes into running a school which makes some see it as a source to siphon money. The financial manager of a school must be reliable and should not compromise. The need to save is important, the idea of putting everything that comes back into a school is a good idea but it is not the best. Schools should learn to save because of the future. The school can put some money aside in an investment that the profit can be funding something in the school; we should think outside of the box and have other streams of income to make the school more viable. There is a saying that says if you are earning N500k a year and they increase the salary to N550k live on 500k for a year to have some chunk of money to put aside for saving. Do high school fees correlate with the high performance of students? If the money spent is on achieving better learning outcomes like books, equipment, paying good teachers, a better learning environment at large definitely will lead to higher performance. It is a misplaced priority when money is not spent to improve the learning skill of students. The conducive learning environment is important but adequate learning tools and well-trained teachers are more important because students will soon leave the school, it is not the picture of the nice or air condition in the building but the knowledge they got in the school. What are the effects of inadequate funding of education in Nigeria? The effect is everywhere. The effect is there in our values, qualities of people that make up Nigeria, in skill acquisitions which tend from inadequate funding of education which started from let’s manage it. The spirit of let’s managed it carry on to the next generation and the quality goes down. This mindset goes on and from there we cannot have quality things in Nigeria. When most educational bodies require adequate funding, it should be provided because they raise inquisitive future leaders. It has also affected our ability to make use of information all around us but cannot use it.