This book addresses the latest developments in the field of financial management in South African public education from both a legal and a financial perspective. It starts by analysing the policy debate on the funding of public services (including education) from public funds and balancing reality with the ideal of free public education. It then enters into a discussion of the legal framework within which the funding of public education takes place, emphasising the balance between rights, obligations (duties), accountability and liability. Having set the scene, the book then proceeds to place the management of finances in the public school sector into perspective by looking at the practicalities involved in the management of funds and other assets, touching on the budgeting process, management of the budget and the keeping of immaculate records for auditing purposes.