The Design and Development of a Maturity Model Tool to Assess Financial Management within South African Schools

Financial management in South African public schools remains one of the most persistent governance challenges in the education sector. Although legislation, such as the South African Schools Act, and guidelines, such as the Basic Financial Systems for Schools, clearly outline the processes that should guide how funds are managed, irregularities and misuse of funds continue to surface. These problems suggest that compliance with regulations alone does not guarantee sound financial management. What possibly differentiates schools that manage their finances well from those that struggle lies in the maturity of their financial management practices, as well as the extent to which sound governance principles are embedded and consistently applied. This study aims to design a practical developmental tool that helps schools assess and strengthen the maturity of their financial management processes. The research follows a design science research (DSR) approach, which was well-suited to the study, as it aims to solve a real-world problem while contributing to theoretical insights. Guided by the eight-step process for maturity model development proposed by Becker et al. (2009), a financial management maturity model is developed. The model comprises nine domains that represent the key areas of financial management within schools, drawn from existing legislation, policy guidelines, and literature. Each domain is measured across five progressively mature levels, ranging from basic compliance to optimised governance. The development process includes an evaluation exercise using expert feedback through semi-structured interviews with school finance stakeholders. This process was executed to determine whether the model accurately reflects the realities and progression of financial management maturity in schools, and whether it offers clear and practical guidance for improvement. Rather than serving as another compliance checklist, the maturity model is intended to be a reflective tool that encourages schools to understand where their current financial governance stands and identify areas for improvement, thus enabling them to build stronger and more sustainable governance processes. By framing financial management as a process of growth rather than compliance, the study makes both practical and theoretical contributions. It offers a structured yet flexible mechanism that can assist schools to grow towards greater accountability, transparency, and long-term financial stability.

Grantor dc:publisher

Stellenbosch : Stellenbosch University

Year dc:date.issued

2026

Author dc:creator

• Dippenaar, Amey

Advisors dc:contributor.advisor

• Grobbelaar, S. S.
• Van Rooyen, G. J.

Language dc:language.iso

en

Repository record dc:identifier.uri

https://scholar.sun.ac.za/handle/10019.1/135742

OAI identifier oai:identifier

oai:scholar.sun.ac.za:10019.1/135742