FINANCIAL MANAGEMENT AND THE EFFICIENCY OF RESOURCE UTILIZATION IN EDUCATIONAL INSTITUTIONS
Abstract
This study examines the role of financial management and the efficiency of resource utilization in educational institutions. The research highlights that effective financial management is not limited to accounting and bookkeeping but also involves strategic planning, budgeting, monitoring, and evaluating the use of resources. Educational institutions frequently face the challenge of limited budgets while being required to deliver high-quality education, which makes efficient resource utilization a vital concern. The analysis demonstrates that efficient use of financial, human, material, and technological resources directly impacts educational outcomes and institutional sustainability. Performance-based budgeting, cost-effectiveness analysis, and the integration of innovative financial practices are identified as key approaches to improving resource efficiency. The paper also discusses global perspectives, emphasizing differences between developed and developing countries in financing education. Ultimately, the findings suggest that transparent, accountable, and innovative financial management practices enhance the quality of education and contribute to long-term socio-economic development.
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