Abstract

This paper sought to explore the extent to which financial resources can be managed and optimized to foster school improvement and development in Uganda. The research questions aimed at investigating the nature and amount of the governments' and parents' contributions, how financial resources are optimized to achieve school budgetary objectives, and its effect on school developments such as the provision of facilities, infrastructure, and instructional materials in secondary schools. Statistics from the annual budget estimates of the Ministry of Finance, Planning and Economic Development quoted in the Education, and Sports Sector Strategic Plan 2017/2018-2019/2020 (Ministry of Education and Sports) is expounded to answer the research questions. Comparisons are drawn to other countries, including the USA and China; however, the underlying principle is that it may not necessarily be the amount of financial resource invested in the education sector that matters but the concentration on financing key areas that affect the social and economic aspirations of a particular country. For example, sub-Saharan Africa ought to channel resources in secondary education with a core value of fighting ignorance, disease, and poverty. A combined Keynesian-Schumpeterian economic approach has been proposed to emphasize government increased expenditure on education to boost aggregate demand while at the same time encouraging innovations (technological developments) in line with social-cultural patterns of society to foster school improvement in Uganda.

Key words: School developments, optimization, Keynesian-Schumpeterian, financial resources management.