The Development of Financial System Management of Colleges under Office of Vocational Education Commission

Abstract

The purposes of this research were to 1) study the current state of financial system management of colleges under Office of Vocational Education Commission (OVEC), 2) develop and evaluate the process of financial system management of the colleges under OVEC. The research was carried out by investigating the current state of financial system management of colleges. The data were collected through the internal audits of 21 colleges under OVEC, in Bangkok Metropolitan, according to their audit plans. The data of the current state were used to develop the format. The format was then used to develop a handbook or guide for financial system management of colleges under OVEC. After that, the handbook was implemented with the colleges under OVEC, and the monitoring and evaluation of the handbook were also conducted. The results of study were summarized as follows.

        The results of the study of current state of the financial system management of colleges under OVEC were as follows. 1) Most colleges did not yet determine the duties, responsibilities and guidelines for the work control as the practice principles for accessing the GFMIS. 2) Most colleges inappropriately arranged payments for the allowances, the accommodations and transports.The payments were made higher than the amount determined. They were also made without signatures of those who have been authorized as evidence. Furthermore, there had no the audits of payments as well as the relevant evidence at the end of the day. 3) Most colleges allocated the loans without approvals, needs, or relevance to the matter, and to those who were not involved. Some requests were made with the amounts beyond the necessity. This case resulted a lot of cash were returned and the debtors held the loan longer than the date dues. New loans were allocated to the same debtors who did not return the old ones. When the loans were returned, the staff, who received the amounts, did not issue receipts to the debtors as evidence, and they did not record the receipts at the back of the loan agreements. 4) Regarding the receipts of donations for educational scholarship, the colleges did not use the receipts determined by the Comptroller General’s Department. Also, for the receipts of canteen rents, the colleges did not issue receipts to the payers. Moreover, for the receipts of students’ payments through banks, the financial staff did not issue receipts as soon as possible. In the case of receipt loss, the responsible staff did not inform the administrators and did not take any actions with the case. 5) The colleges did not appoint the committee for keeping money, or appointed the impropriate committee. In some cases, the staff, who were in charge, kept the money instead of the committee who could not perform the duty, and the committee could not perform the duty according to the regulations. These cases caused the lacks of cash remaining check system of the colleges 2) The development of the handbook of financial system management of the colleges under OVEC comprised 5 steps : 1) Data analysis, 2) Establish the structure of the handbook, 3) Design and develop the handbook, 4) Implement and amend, and 5) Evaluate. The contents were divided into 5 units: Unit 1 Introduction, Unit 2 Payments of government sectors, Unit 3 Payments of loan, Unit 4 Receipts of money of government sectors, and Unit 5 Keeping money of government sectors. The evaluation of the handbook of financial system management     of the colleges under OVEC was carried out through a focus group of 11 experts in different areas; namely college administration, finance and accountancy, and auditing. For the    overall evaluation, it was found that the appropriateness of the handbook was at the highest level.