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This book is designed for use not only by University students in the field of Educational Administration and Management, but also by people interested in Financial Management, a phenomenon that has been taken into consideration in many countries, especially the developing ones. Financial Management is an essential part of school administrators' tasks, which leads to the decisions of efficient procurement and prudent utilization of funds in schools. The book explores the fundamentals of prudent financial management in Kenyan schools. Understanding the basic concepts of financial management becomes an essential part of school administration. The author provides detailed information about financial management practices in a simple language, while the concepts are explained with easy examples.