Need and Scope of Educational Planning

DEFINITIONSEducational Planning is defined as:

“The process of determining the objectives of education, educational institutions, or educational programs and the means (activities, procedures, resources, etc.) for attaining them.”

or

“The process of making arrangements or preparations to facilitate the training, instruction or study that leads to the acquisition of skills or knowledge, or the development of reasoning and judgment.”

NEED AND SCOPE OF EDUCATIONAL PLANNINGEducational planning and decision-making, like planning in other social sectors, is a complex, interactive process involving many policy-making, technical, and administrative bodies at the National and Provincial levels.The general purpose of national educational planning in any country is to assist and facilitate the development of the educational system. At minimum, this task includes: linking education to the economy, culture, and society; maintaining the integrity of the system in order that the different levels and kinds of education reinforce one another; and, developing a system which monitors its own performance and responds accordingly. The educational planning process typically includes the interaction of sets of activities and feedback loops, including: an articulated vision of the future education sector; creation of the setting of objectives; the review of existing educational policies and consideration of needed new ones; explication of programs, projects and targets; and, assessment of needed human, fiscal and physical resources.Simple as well as complex methodologies are available to assist each stage in the process. Effective planning requires relevant and reliable data, both as feedback to assist system adjustments, and also to allow meaningful budget development. Matching priorities to a feasible budget is a crucial step in the process without which planning has little potential for influencing change.

EXAMPLES OF TYPES OF EDUCATIONAL PROJECTSEducational projects can be classified in different ways and several criteria can be applied when putting these projects in types. Projects can be classified according to their objectives. These objectives can be:

1. Expanding the education system. This will include:1. Increase in the output of qualified manpower2. Increase in the opportunities for general education

2. Improving the quality of education. This will include1. Increasing the number and/or quality of qualified teachers2. Improving the quality of support facilities/infrastructure3. Improvement in the text books, curriculum content etc.

3. Development of planning and management capacities in the field of education.

Projects can also be classified according to the type of activities or inputs e.g.:

School construction Staff training Textbook development Research projects Development of audio-visual aids

EDUCATION PLANNING IN PAKISTANThis manual emphasizes the development of realistic, cost effective, and implementable plans for national development. The use of well-established principles, frameworks, methodologies, tools and techniques are a pre-requisite for successful plan development. Equally important is availability and use of accurate, reliable and timely data to aid the planning process. Detailed and concrete implementation plans, supported by well thought-out monitoring, supervision and evaluation mechanisms are required for successful plan implementation. However, history indicates that most of the education plans in Pakistan were more of an optimistic wish list, and the same objectives were repeated again and again in succeeding plans with minimal success.

The word ‘planning’ has lost the undertones it had earlier of infringement with individual liberties and is becoming increasingly accepted by all as part of the vocabulary of development, each country having its own type of planning within its own political system. In what follows, planning refers to the system a country adopts of forecasting its needs and setting up a framework, or alternative frameworks, of national action to meet them. It deals with matters which are subject to forecast and to substitution and can

never cover the whole policy. A sudden policy decision to devaluate the currency or to enter a common market may have more important effects on economic development and social structure than the most detailed ten-year plan.The main approaches and techniques of relating educational planning to development planning, which are in use or recommended by various authorities are set out below. Usually combinations of methods are in operation:

 

1. SOCIAL DEMAND APPROACHThe first approach, which may be called the social method is in general use, but is scarcely a method at all, and is a starting point from which improvements must be devised. This method takes educational needs in terms of the current demand for education at the different levels and projects them on the basis of population increase, age distribution, long-term national or social goals (inarticulate or defined) and on the basis of what is known about state and consumer preferences for education. Among such goals and preferences are universal literacy, universal compulsory primary education, and cultural objectives. The stress is upon education as social infra-structure for development purposes, and as an end in itself. The financial implications of these targets are then considered. The usual result is that the funds required for the educational expansion are found to be larger than those available either to launch or to sustain it, on the basis of projections of national income and revenue. A compromise is struck, and what is deemed to be a feasible plan emerges, cut down to the funds expected to be available. This is the traditional approach, and may work satisfactorily in high-income countries, although even in these, concern over flagging rates of growth and ever-increasing competition in export markets is leading to increased emphasis on the contribution of education to technological progress and productive efficiency.

2. MANPOWER REQUIREMENT APPROACHThe second approach, which we may call the manpower approach, is based on the fact that, as we saw earlier, the main link of education with economic development is through the knowledge and skills it produces in the labor force. To the extent that the educational system produces qualified people in the right numbers and places, the major part of the economic and social contribution of educational planning is achieved, provided that in so doing the educational system has not consumed so great a proportion of resources as to set back the development plan itself. Various methods exist of estimating future manpower requirements and the demand they will make on the education system. But various difficulties hamper this approach as Professor Harbison recognizes. First, manpower forecasts can seldom be made with reliability beyond short-term periods of five to eight years. The time perspective required by educational planning as a whole is fifteen to twenty years, though it is possible to influence over shorter periods the supply in the ‘pipe-line’. Secondly, the educational component of different

occupations changes with technological progress and the rise of educational standards.

A further limitation on the manpower approach is that it leaves out of account provision for education as a ‘consumers’ good’, and it makes no provision for the ‘social minimum’. It is tempting to believe that these objectives might be obtained as by-products of the training for occupation by influencing curricula, but this is unlikely. The occupational needs of the economy are not the whole of society’s needs for education. An addition has to be made for women and girls who are not gainfully employed, and for the amount of education which a country requires to fulfill its cultural, political, and social goals. It is also necessary to assure that educational output will grow faster than demand to the degree required to stimulate growth, without creating problems of unemployment. The educational plan must also provide for turnover of employment and continuous adjustment between the educational system and the socio-economic environment. Full account must be taken of the ‘wastage’ involved in various educational systems, as well as students switching in mid-stream, students’ and parents’ preferences, locational disequilibrium of supply and demand, and adjustments required by technological change.

Finally, there is the problem that the composition (or ‘product mix’) of the development plan leading to the occupational demand must not be determined irrespective of the educational requirements it imposes. The composition of the target ‘product mix’, and of the investment program undertaken to achieve it, must depend in part on the relative cost of the various types of educational programs needed. In short, investment in education and in all other sectors of the development programs should be mutually determined. Professor Arthur Lewis, in his article ‘Education and Economic Development’’ dealing with what he calls ‘investment education’ states: ‘One can calculate the percentage of the age cohort who should receive secondary education from the formula:

X = n (a+b+c)/m

Where:

x = proportion of age cohort to be recruited;

n = ratio of number of secondary-type jobs to adult population;

m = ratio of number in age cohort to adult population;

a = normal percentage wastage of nationals of the country;

b = abnormal wastage due to replacement of expatriates;

c = percentage of rate of growth of the number of secondary-type jobs.

‘Of these c is the most difficult factor to assess.’

If this formula is to be used to estimate total requirements, and to be used widely, we have to add the secondary school places needed to maintain the flow to higher education, since this flow has to pass through the secondary level. We have also to make provision for education of women and girls and others who do not work. A further comment on Professor Lewis’ formula is that it does not take account of the fact that as national income rises the proportion of the labor force to the total population normally becomes less. This is caused by the raising of the age of entry into the labor force, by the lowering of the age of retirement, and by the reduction of the number of workers marginal to the labor force (e.g. married women). Thus quantitative estimates of educational requirements based solely on labor force demand ten to fifteen years ahead would underestimate a country’s over-all educational needs.

3. EDUCATION-OUTPUT RATIO METHODThe third method is based on the capital-output ratio approach and might be called the education-output ratio method. It relates the stock of educated people and the flow of children and students completing education at the different levels directly to the national output of goods and services without passing through the intervening stage of making manpower forecasts. A series of linear equations are set up relating the stock of persons who have completed a given level of education, and the number of students at each level, to the aggregate volume of production. These equations will show how the structure of the educational system should change with different growth rates of the economy. This method is developed by Professor Tinbergen. Every method has its difficulties and limitations. The problem here is that assumptions have to be made about teacher-student ratios and about the adequacy of the relations of the education ‘mix’ to the product ‘mix’ at the base from which the projection is made. If these assumptions are incorrectly made they will invalidate the conclusions. Further, the differences of rates of growth in the different economic sectors, and increases of productivity, need to be included. The range of assumptions as to the technical coefficients is very wide. None the less this method, used with good informed judgment, is a useful exercise to be set alongside the other approaches.

A further difficulty common to both the manpower and the education output ratio approaches is the assumption that a given output requires a fixed volume of manpower with fixed amounts of education and training. The fact is, however, that certain latitude exists for substitution of capital for manpower in general, and for substituting additional education and training for man-hours. A given output may be produced with a small number of highly trained workers or a large number of less trained workers. It may even be possible, through automation, to produce it with a smaller number of less highly trained workers. In short, just as the choice of technology, and its implications for education, is an important aspect of development programming, so is the choice between more education and training and less employment, or less education and training and more employment in each sector. The broader the categories of output, and the broader the definition

of educational inputs, the less fixed are the relations between them and the wider the area of choice. In many developing countries the shortage of data, of mathematical statisticians, and of computing facilities, would not permit computation and projection of relationships among large numbers of output categories and large numbers of education projects. In such cases, the choice of parameters to be used for projection-a choice which is a policy decision and not a matter of statistical analysis alone-is more important than the projection as such. The model provided by Professor Tinbergen, however, breaks new ground in setting out a comprehensive system of variables and relationships which provide a conceptual basis for a quantitative estimation for the planning of the educational system.

4. AGGREGATE METHODThe fourth is the aggregate method. This method tries to relate educational needs to the whole demand of society for education rather than to the level of output or to manpower, and is based on norms and patterns which emerge from an empirical study of the educational situation in countries at different stages of development. Among them are (a) the proportion of GNP devoted to education globally and (if possible) by sector; (b) the proportion of public expenditure devoted to education and its different sectors; (c) the proportion of over-all investment devoted to education; (d) the proportion of the population enrolled at the different educational levels; (e) the above information corrected by estimates of wastage; (f) the proportions of the school-age and student population enrolled at different levels.

Patterns of educational development in relation to over-all development can be seen by setting these coefficients against indices of economic growth and social attainment. Social indices can be used with the help of ranking techniques. Use can also be made of data on what appear to be irreversible trends, e.g. the movement from primary to secondary and tertiary occupations, and estimates of the relative rates of growth of more highly qualified manpower in relation to the total growth of the labor force. A number of problems arise in respect of the interpretation of the coefficients listed. For example, the proportion of GNP spent on education will vary with the age composition of the population and not reflect an equality of effort. Another variant strongly influencing the comparison is the ratio of per capita teachers’ salaries to per capita income, as the country differences are wide and the greatest proportion of educational cost is made-up of teachers’ remuneration. A full study of this approach is contained in Professor Harbison’s chapter in this volume.

5. COMPREHENSIVE APPROACHFifth, there is what we may call the human resources assessment approach which is a comprehensive one. It was developed by Professor Harbison. It starts from the position that education is one of the main sources of human resource formation, other sources being measures in the fields of manpower, employment, training and health. The strategy of human resource development consists of integrating these factors with general economic and social development planning. It takes into consideration such factors as the scale of development feasible considering the availability of specialized

manpower, the scale of development needed to absorb the backlog of unemployed and the new entrants to the labor force, the extent of in-service training in industry, the pattern of investment priorities envisaged in the plan and the broad economic, social and educational goals of development planning.

DEFINITION OF PLANNING“Planning is the process of setting goals, developing strategies, and outlining tasks and schedules to accomplish the goals.”Synonyms: plan, blueprint, design, project, scheme, strategy 

STEPS INVOLVED IN PLANNINGPlanning is a process which embraces a number of steps to be taken. Planning is an intellectual exercise and a conscious determination of courses of action. Therefore, it requires courses of action. The planning process is valid for one organization and for one plan, may not be valid for other organizations or for all types of plans, because various factors that go into planning process may differ from organization to organization or from plan to plan. For example, planning process for a large organization may not be the same for a small organization. However, the major steps involved in the planning process of a major organization or enterprise are as follows:

1. Establishing objectivesThe first and primary step in planning process is the establishment of planning objectives or goals. Definite objectives, in fact, speak categorically about what is to be done, where to place the initial emphasis and the things to be accomplished by the network of policies, procedures, budgets and programs, the lack of which would invariably result in either faulty or ineffective planning.

It needs mentioning in this connection that objectives must be understandable and rational to make planning effective. Because the major objective, in all enterprise, needs be translated into derivative objective, accomplishment of enterprise objective needs a concrete endeavor of all the departments.

2. Establishment of Planning PremisesPlanning premises are assumptions about the future understanding of the expected situations. These are the conditions under which planning activities are to be undertaken. These premises may be internal or external. Internal premises are internal variables that affect the planning. These include organizational polices, various resources and the ability of the organization to withstand the environmental pressure. External premises include all factors in task environment like political, social technological, competitors’ plans and actions, government policies, market conditions. Both internal factors should

be considered in formulating plans. At the top level mainly external premises are considered. As one moves downward, internal premises gain importance.

3. Determining Alternative CoursesThe next logical step in planning is to determine and evaluate alternative courses of action. It may be mentioned that there can hardly be any occasion when there are no alternatives. And it is most likely that alternatives properly assessed may prove worthy and meaningful. As a matter of fact, it is imperative that alternative courses of action must be developed before deciding upon the exact plan.

4. Evaluation of AlternativesHaving sought out the available alternatives along with their strong and weak points, planners are required to evaluate the alternatives giving due weight-age to various factors involved, for one alternative may appear to be most profitable involving heavy cash outlay whereas the other less profitable but involve least risk. Likewise, another course of action may be found contributing significantly to the company’s long-range objectives although immediate expectations are likely to go unfulfilled.

Evidently, evaluation of alternative is a must to arrive at a decision. Otherwise, it would be difficult to choose the best course of action in the perspective of company needs and resources as well as objectives laid down.

5. Selecting a Course of ActionThe fifth step in planning is selecting a course of action from among alternatives. In fact, it is the point of decision-making-deciding upon the plan to be adopted for accomplishing the enterprise objectives.

6. Formulating Derivative PlansTo make any planning process complete the final step is to formulate derivative plans to give effect to and support the basic plan. For example, if Indian Airlines decide to run Jumbo Jets between Delhi an Patna, obliviously, a number of derivative plans have to be framed to support the decision, e.g., a staffing plan, operating plans for fueling, maintenance, stores purchase, etc. In other words, plans do not accomplish themselves. They require to be broken down into supporting plans. Each manager and department of the organization is to contribute to the accomplishment of the master plan on the basis of the derivative plans.

7. Establishing Sequence of ActivitiesTiming a sequence of activities is determined after formulating basic and derivative plans, so that plans may be put into action. Timing is an essential consideration in planning. It gives practical shape and concrete form to the programs. The starting and finishing times are fixed for each piece of work, so as to indicate when the within what time that work is to be commenced and completed. Bad timing of programs results in their failure. To maintain a symmetry of performance and a smooth flow of work, the sequence of

operation shaped be arranged carefully by giving priorities to some work in preference to others. Under sequence it should be decided as to who will don what and at what time.

8. Feedback or Follow-up ActionFormulating plans and chalking out of programs are not sufficient, unless follow-up action is provided to see that plans so prepared and programs chalked out are being carried out in accordance with the plan and to see whether these are not kept in cold storage. It is also required to see whether the plan is working well in the present situation. If conditions have changed, the plan current plan has become outdated or inoperative it should be replaced by another plan. A regular follow-up is necessary and desirable from effective implementation and accomplishment of tasks assigned.

The plan should be communicated to all persons concerned in the organization. Its objectives and course of action must be clearly defined leaving no ambiguity in the minds of those who are responsible for its execution. Planning is effective only when the persons involved work in a team spirit and all are committed to the objectives, policies, programs, strategies envisaged in the plan.

Concept, Nature and Significance of Planning

POSTED BY : ANWAAR AHMAD GULZAR FEBRUARY 2ND, 2015 6 COMMENTSIN EDUCATIONAL PLANNING & FINANCING  6799 VIEWS 2

Meaning and Concept of PlanningIn simple words, planning is deciding in advance what is to be done, when where, how and by whom it is to be done. Planning bridges the gap from where we are to where we want to go. It includes the selection of objectives, policies, procedures and programs from among alternatives. A plan is a predetermined course of action to achieve a specified goal. It is an intellectual process characterized by thinking before doing. It is an attempt on the part of manager to anticipate the future in order to achieve better performance. Planning is the primary function of management.

Definitions of PlanningDifferent authors have given different definitions of planning from time to time. The main definitions of planning are as follows:

According to Alford and Beatt, “Planning is the thinking process, the organized foresight, the vision based on fact and experience that is required for intelligent action.”

According to Theo Haimann, “Planning is deciding in advance what is to be done. When a manager plans, he projects a course of action for further

attempting to achieve a consistent co-ordinate structure of operations aimed at the desired results.

According to Billy E. Goetz, “Planning is fundamentally choosing and a planning problem arises when an alternative course of action is discovered.”

According to Koontz and O’ Donnell, “Planning is an intellectual process, conscious determination of course of action, the basing of decision on purpose, facts and considered estimates.”

According to Allen, “A plan is a trap laid to capture the future.”NATURE / CHARACTERISTICS OF PLANNINGThe main characteristics or nature of planning is given below:

1. Planning is an Intellectual ProcessPlanning is an intellectual process of thinking in advance. It is a process of deciding the future on the series of events to follow. Planning is a process where a number of steps are to be taken to decide the future course of action. Managers or executives have to consider various courses of action, achieve the desired goals, go in details of the pros and cons of every course of action and then finally decide what course of action may suit them best.

2. Planning Contributes to the ObjectivesPlanning contributes positively in attaining the objectives of the business enterprise. Since plans are there from the very first stage of operation, the management is able to handle every problem successfully. Plans try to set everything right. A purposeful, sound and effective planning process knows how and when to tackle a problem. This leads to success. Objectives thus are easily achieved.

3. Planning is a Primary Function of ManagementPlanning precedes other functions in the management process. Certainly, setting of goals to be achieved and lines of action to be followed precedes the organization, direction, supervision and control. No doubt, planning precedes other functions of management. It is primary requisite before other managerial functions step in. But all functions are inter-connected. It is mixed in all managerial functions but there too it gets precedence. It thus gets primary everywhere.

4. A continuous ProcessPlanning is a continuous process and a never ending activity of a manager in an enterprise based upon some assumptions which may or may not come true in the future. Therefore, the manager has to go on modifying revising and adjusting plans in the light of changing circumstances. According to George R. Terry, “Planning is a continuous process and there is no end to it. It involves continuous collection, evaluation and selection of data, and scientific investigation and analysis of the possible alternative courses of action and the selection of the best alternative.”

5. Planning Pervades Managerial Activities

From primary of planning follows pervasiveness of planning. It is the function of every managerial personnel. The character, nature and scope of planning may change from personnel to personnel but the planning as an action remains intact. According to Billy E. Goetz, “Plans cannot make an enterprise successful. Action is required, the enterprise must operate managerial planning seeks to achieve a consistent, coordinated structure of operations focused on desired trends. Without plans, action must become merely activity producing nothing but chaos.”

ROLE, SIGNIFICANCE, & ADVANTAGES OF PLANNINGAn organization without planning is like a sailboat minus its rudder. Without planning, organization, are subject to the winds of organizational change. Planning is one of the most important and crucial functions of management. According to Koontz and O’Donnell, “Without planning business becomes random in nature and decisions become meaningless and adhoc choices.” According to Geroge R. Terry, “Planning is the foundation of most successful actions of any enterprise.” Planning becomes necessary due to the following reasons:

1. Reduction of UncertaintyFuture is always full of uncertainties. A business organization has to function in these uncertainties. It can operate successfully if it is able to predict the uncertainties. Some of the uncertainties can be predicted by undertaking systematic. Some of the uncertainties can be predicted by undertaking systematic forecasting. Thus, planning helps in foreseeing uncertainties which may be caused by changes in technology, fashion and taste of people, government rules and regulations, etc.

2. Better Utilization of ResourcesAn important advantage of planning is that it makes effective and proper utilization of enterprise resources. It identifies all such available resources and makes optimum use of these resources.

3. Increases Organizational EffectivenessPlanning ensures organizational effectiveness. Effectiveness ensures that the organization is in a position to achieve its objective due to increased efficiency of the organization.

4. Reduces the Cost of PerformancePlanning assists in reducing the cost of performance. It includes the selection of only one course of action amongst the different courses of action that would yield the best results at minimum cost. It removes hesitancy, avoids crises and chaos, eliminates false steps and protects against improper deviations.

5. Concentration on Objectives

It is a basic characteristic of planning that it is related to the organizational objectives. All the operations are planned to achieve the organizational objectives. Planning facilitates the achievement of objectives by focusing attention on them. It requires the clear definition of objectives so that most appropriate alternative courses of action are chosen.

6. Helps in Co-ordinationGood plans unify the interdepartmental activity and clearly lay down the area of freedom in the development of various sub-plans. Various departments work in accordance with the overall plans of the organization. Thus, there is harmony in the organization, and duplication of efforts and conflict of jurisdiction are avoided.

7. Makes Control EffectivePlanning and control are inseparable in the sense that unplanned action cannot be controlled because control involves keeping activities on the predetermined course by rectifying deviations from plans. Planning helps control by furnishing standards of performance.

8. Encouragement to InnovationPlanning helps innovative and creative thinking among the managers because many new ideas come to the mind of a manager when he is planning. It creates a forward-looking attitude among the managers.

9. Increase in Competitive StrengthEffective planning gives a competitive edge to the enterprise over other enterprises that do not have planning or have ineffective planning. This is because planning may involve expansion of capacity, changes in work methods, changes in quality, anticipation of tastes and fashions of people and technological changes etc.

10. Delegation is facilitatedA good plan always facilitates delegation of authority in a better way to subordinates.

Sources of FinancingPOSTED BY : ANWAAR AHMAD GULZAR JANUARY 27TH, 2015 1

COMMENTIN EDUCATIONAL PLANNING & FINANCING  664 VIEWS 0Financing is defined as the act of providing funds for business activities, making purchases or investing. Financial institutions and banks are in the business of financing as they provide capital to businesses, consumers and investors to help them achieve their goals. The Education funding comes from many different sources. The total level of funding a country dedicates to education is the result of the total level of funding provided by each one of these sources. The main sources of education finance are the following:

1. Public finance (Federal & Provincial government)2. Taxes (Direct & Indirect)3. Fee & Services4. Private organizations (NGOs)5. Foreign funding (Loans & Aids)

1. PUBLIC FINANCE (FEDERAL & PROVINCIAL GOVERNMENT)They represent, on average, the bulk of national educational expenditure or about 80% or so of the total. Refers to the total of the resources allocated and spent in education by the various levels of governments (central, regional and local) as well as by public educational institutions. In different countries, the participation in total public education financing of the various government levels varies widely. For example, in the Czech Republic the central government allocates and spends 79% of public educational expenditures while the local government 21%. In the United States, only 7% is allocated by the central level, while regional (state) and local levels allocate (more or less equally) the other 93%; but uses of funds are a local responsibility. Public financing includes both direct public expenditure on education and subsidies to (mostly) households, such as tax reductions, scholarships and loans, living allowances, etc.

Pakistan is now poised at an important turning point with the reforms programs being pursued by the Ministry of Education and the Provincial Education Departments. Emphasis is being placed on improvements in quality through training of both new and existing teachers, better physical facilities in schools and higher non salary spending. It is recognized by policy makers that increased public spending is necessary for improving educational attainments. The achievement of targets in respect of Universal Primary Education (UPE) will not be feasible if allocations for education at the Federal, Provincial and District Governments level do not reach 4% of the GDP.

2. TAXES (Direct & Indirect)To tax (from the Latin taxo; “I estimate”) is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay is punishable by law. A tax may be defined as a “pecuniary burden laid upon individuals or property owners to support the government.

Taxes are sometimes referred to as “direct taxes” or “indirect taxes”, and may be paid in money or as its labor equivalent. The meaning of these terms can vary in different contexts, which can sometimes lead to confusion. An economic definition, by Atkinson, states that “…direct taxes may be adjusted to the individual characteristics of the taxpayer, whereas indirect taxes are levied on transactions irrespective of the circumstances of buyer or seller.”

According to this definition, for example, income tax is “direct”, and sales tax is “indirect”. In law, the terms may have different meanings. For instance, direct taxes refer to poll taxes and property taxes, which are based on simple existence or ownership. Indirect taxes are imposed on events, rights, privileges, and activities. Thus, a tax on the sale of property would be considered an indirect tax, whereas the tax on simply owning the property itself would be a direct tax.

3. FEE & SERVICESA fee is the price one pays as remuneration for services. Fees usually allow for overhead, wages, costs, and markup. At public universities and community colleges, students are charged tuition fee as per credit hour. However, the term ‘student fees’ typically refers to additional charges which the student is required to pay, typically no matter how many hours the student is taking in the academic term. Commonly this is a student activity fee, which helps to fund student organizations, particularly those which are academic in nature; and those which serve all students equally, like student government and student media. A newer fee is the technology fee, which is often charged to students by schools when state government funding fails to meet needs for computers and other classroom technology. Students may also be charged a health fee which usually covers the campus nurse, and possibly a visit to a local clinic if the student is ill.

Parking fees are normally optional, because students may not have their own automobiles. However, many schools are now forcing meal plans on their students, particularly those that stay in dorms, and some force freshmen to stay in the dorms. Generally, all fees except parking are covered under scholarships, whether they are from private, government, or lottery funds.

4. PRIVATE ORGANIZATIONS (NGOs)NGOs are difficult to define and classify due to the term’s inconsistent use. One of the earliest mentions of the term “NGO” was in 1945, when the UN was created. According to the UN, all kinds of private organizations that are independent from government control can be recognized as “NGOs.” Professor Peter Willets defines an NGO as “”an independent voluntary association of people acting together on a continuous basis for some common purpose other than achieving government office, making money or illegal activities.” In this view, two main types of NGOs are recognized according to the activities they pursue: operational and campaigning NGO’s. Although Willets proposes the operational and campaigning NGOs as a tool to differentiate the main activities of these organizations, he also explains that they have more similarities than differences. Their activities are unrestricted; thus operational NGOs may need to campaign and campaigning NGOs may need to take on structural projects. The NGOs, whether operational or campaigning, are a reliable source of funding in education. Many NGOs run private educational institutions; provide funds for educational awareness

campaigns; award scholarships to students; pay fee of deserving students; provide funds to eliminate gender disparity in education and so on.

5. FOREIGN FUNDING (Loans & Aids)

LoansA loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower. In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time. Typically, the money is paid back in regular installments, or partial repayments; in an annuity, each installment is the same amount.

A student loan is designed to help students pay for university tuition, books, and living expenses. It may differ from other types of loans in that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in education. It also differs in many countries in the strict laws regulating re-negotiating and bankruptcy.

AidsIn international relations, aid (also known as international aid, overseas aid, or foreign aid) is a voluntary transfer of resources from one country to another, given at least partly with the objective of benefiting the recipient country. It may have other functions as well: it may be given as a signal of diplomatic approval, or to strengthen a military ally, to reward a government for behavior desired by the donor, to extend the donor’s cultural influence, to provide infrastructure needed by the donor for resource extraction from the recipient country, or to gain other kinds of commercial access. Aid may be given by individuals, private organizations, or governments.

Financial AdministrationPOSTED BY : ANWAAR AHMAD GULZAR JANUARY 27TH, 2015 LEAVE A COMMENTIN EDUCATIONAL PLANNING & FINANCING  1368 VIEWS 0

Meaning of Financial AdministrationThe term Financial Administration consists of two words. ‘Finance’ and ‘Administration’. The word ‘administration’ refers to organization and management of collective human efforts in the pursuit of a conscious objective. The word ‘finance’ refers to monetary resource.Financial administration refers to a set of activities which are related to making available money to the various branches of an organization to enable

it to carry out its objects. Whether it is a family, business or a government department, its day to day activities depend on the availability of funds with which financial administration is concerned.

Definitions of Financial AdministrationAccording to L. D. White “Fiscal Management includes those operations designed to make funds available to officials and to ensure their lawful and efficient use.”According to Jaze Gaston “Financial Administration is that part of government organization which deals with the collection, preservation and distribution of public funds, with the coordination of public revenue and expenditure, with the management of credit operations on behalf of the State and with the general control of the financial affairs of public household”.Even though these definitions cover some important aspects of fiscal management, it fails to project a comprehensive scope of financial administration. G. S. Lall states that financial administration is concerned with all the aspects of financial management of the State. Since public administration is more and more concerned with public affairs and public interest, the frontiers of financial administration are expanding and therefore there is a need for a comprehensive definition of financial administration. As an attempt towards this direction, the following definition is presented:“Financial Administration includes all the activities which generate, regulate and distribute monetary resources needed for the sustenance and growth of the members of a political community.”

Objectives of Financial AdministrationAnd the objectives of Finance Administration are:1. To ensure more transparency of work.2. To ensure accountability.3. To ensure responsibility of servants.4. To encourage professionalism of public servants.5. To reduce corruption of money.6. Setting of Gained and Spend7. To Ensure Validity of Buying8. To Ensure the System of Taxes are Good Administrative

Importance of Financial AdministrationThe importance of Financial Administration was not considered till the industrial revolution. When social life became more complex as a result of industrial revolution, the role of the government increased manifold. Further, the welfare state has caused phenomenal increase in state activity. The governments have entered into new areas which were kept out of the preview of the State. In this changed context, financial administration has gained greater significance for exploring ways and means to generate resources to meet the ever-increasing public expenditure.

And among the few importance of the need to manage financial resources and expenditures (finance administration) are:1. To ensure efficiency and effective use of financial resources.2. To reduce wastage.3. To ensure the achievement of development goals and objectives.4. To ensure social equality & equity.5. Avoiding of fraud and Misuse

Financial PlanningPOSTED BY : ANWAAR AHMAD GULZAR JANUARY 27TH, 2015 LEAVE A

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Definition of Financial PlanningFinancial Planning is the process of estimating the capital required and determining its competition. It is the process of framing financial policies in relation to procurement, investment and administration of funds of an enterprise.

Objectives of Financial PlanningFinancial Planning has got many objectives to look forward to:

Determining capital requirements- This will depend upon factors like cost of current and fixed assets, promotional expenses and long- range planning. Capital requirements have to be looked with both aspects: short- term and long- term requirements.

Determining capital structure- The capital structure is the composition of capital, i.e., the relative kind and proportion of capital required in the business. This includes decisions of debt- equity ratio- both short-term and long- term.

Framing financial policies with regards to cash control, lending, borrowings, etc.

A finance manager ensures that the scarce financial resources are maximally utilized in the best possible manner at least cost in order to get maximum returns on investment.

Importance of Financial PlanningFinancial Planning is process of framing objectives, policies, procedures, programs and budgets regarding the financial activities of a concern. This ensures effective and adequate financial and investment policies. The importance can be outlined as-

1. Adequate funds have to be ensured.

2. Financial Planning helps in ensuring a reasonable balance between outflow and inflow of funds so that stability is maintained.

3. Financial Planning ensures that the suppliers of funds are easily investing in companies which exercise financial planning.

4. Financial Planning helps in making growth and expansion programs which help in long-run survival of the company.

5. Financial Planning reduces uncertainties with regards to changing market trends which can be faced easily through enough funds.

6. Financial Planning helps in reducing the uncertainties which can be a hindrance to growth of the company. This helps in ensuring stability and profitability in concern.

Basic steps of Financial Planning

Setting Financial Goals# Financial planner informs client on proper financial goals.# Set out goals relevant to the interest of the client.

Gathering Relevant Data# The planner leads the client through the process.# Collect financial information needed to generate a proper financial proposal.# Use the Financial Wizard to enhance the data gathering process.

Analysis of Data# The data will tell the financial situation of the client.# Relate the current situation to the financial goals.# Prioritize the financial goals according to current ability and available resources.

Recommendation of Financial Plan# The planner sets out and develops a set of recommendations to help the client achieve financial goals.# Once the client selects the most suitable and agreeable idea, funding will be explored to help implement the financial plan.

Implementation of Financial Plan# The planner will help the client to take action through the most appropriate financial tools.

# The client must be motivated to be responsible in going ahead with the plan.

Monitoring of Financial Plan# The financial plan must be constantly reviewed.# From time to time, comparisons must be made between the plan objectives and the original financial goals.# The objectives and the actual performance of the plan might differ over time, thus the planner and client must work hand in hand to ensure that the financial goals are achieved as planned.

POSTED BY : ANWAAR AHMAD GULZAR OCTOBER 22ND, 2015 LEAVE A COMMENTIN EDUCATIONAL PLANNING & FINANCING  1835 VIEWS 0