Author Details
ROWELL AGLIONES DIAZ, MBA
Faculty Member, College of Management and Business Technology
Nueva Ecija University of Science and Technology – San Isidro Campus
The revised student handbook of the University, which can be found on page 96 rules 1 to 5, explains that a strong financial transaction is an important factor in organizational triumph and sustainability. This study used a descriptive design with the help of a questionnaire, and data was collected from 57 student leaders and advisers from various NEUST student organizations through quota sampling. Most organizations had constitutions and bylaws, but they were only kept as files and renewal requirements, according to the findings. Some provisions were unknown to the officers, and most were in operation for more than five years; however, the results revealed that some functions were not performed by the officers who were supposed to do them, such as the auditors who also serve as treasurers, the Public Relations Officer or PRO as the record keeper, and the presidents who handled finances, collections, and disbursements of funds. Due to the implementation of the “no collection and no tuition fee policy,” the organizations’ financial activities were deemed to be “good,” particularly budgeting and cash receipt. The researchers came to the conclusion that the lack of proper internal control systems and operating manuals, as well as the improper transfer of financial records from previous sets of officers, were serious issues that needed to be addressed. Furthermore, if proper training and supervision are provided in accounting operations, the internal control system of student organizations can be improved.
Keywords:
transparency, accounting, internal control system, financial management, disbursement, a student organization..
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