Risk Assessment in Budget Management of Triam Udom Suksa Schools

Abstract

Background and Aims: Budget management is a crucial mission for educational institutions under the decentralized education system, especially for Triam Udom Suksa School, a leading institution facing increasingly complex challenges in budget management, including limited resource allocation and rising expenses. This research aimed to (1) identify risks in budget management in schools and (2) assess risk levels in the budget management of Triam Udom Suksa School.

Methodology: This research employed a qualitative research methodology using in-depth interviews with 7 key informants who were administrators and department heads involved in budget management at Triam Udom Suksa School. The participants were selected through a purposive selection method. The data were analyzed using content analysis and risk assessment.

Results: The research findings revealed that the risks in budget management at Triam Udom Suksa School could be categorized into four aspects: (1) Strategic Risk: Extremely high-risk issues included risks from lack of stakeholder participation in budget planning (17.14). High-risk issues included risks from inadequate analysis of the budget management environment (16.43) and risks from lack of monitoring and evaluation of budget spending according to plans (16.00). Medium-risk issues included risks from setting goals and indicators inconsistent with the school's strategic plan (9.43) and risks from budget plans inconsistent with the school's educational quality development plan (8.57). Low-risk issues included risks from budget management policies inconsistent with parent organization policies and current budget management situations (5.57).

(2) Operational Risk: Extremely high-risk issues included risks from improper workforce planning and task assignment (17.14). High-risk issues included risks from a lack of supervision, monitoring, and motivation systems in operations (14.86). Medium-risk issues included risks from unclear management structure and scope of work (10.71), risks from lack of personnel development according to workload (10.86), risks from lack of operational calendar preparation and communication to personnel (9.86), and risks from unfavorable work environment and facilities (6.57). Low-risk issues included risks from a shortage of materials, equipment, and operational resources (5.86). (3) Financial Risk: Extremely high-risk issues included risks from the outdated asset registry and inventory verification (17.14). High-risk issues included risks from inaccurate and outdated financial and accounting systems (15.93), risks from insufficient and inappropriate budget allocation for projects and activities (13.79), risks from a lack of a financial risk management system (13.29), and risks from a lack of monitoring, auditing, and evaluation of budget utilization (13.29). Medium-risk issues included risks from budget spending not following plans and allocated amounts (8.93). (4) Compliance Risk: High-risk issues included risks from a lack of performance evaluation based on laws and regulations for improvement (13.79) and risks from a lack of collection and dissemination of relevant laws, regulations, and requirements (12.71). Medium-risk issues included risks from a lack of supervision to ensure operations comply with laws and regulations (10.33), risks from procurement not following procurement regulations (10.33), and risks from operations not complying with laws, regulations, and requirements (9.86). Low-risk issues included risks from budget spending not by objectives and specified regulations (5.86).

Conclusion: Budget management at Triam Udom Suksa School has significant risks that require urgent attention, especially the three extremely high-risk issues: risks from lack of stakeholder participation in budget planning, risks from improper workforce planning and task assignment, and risks from outdated asset registry and inventory verification. The school should develop a systematic risk management system for budget administration to ensure transparency, efficiency, and maximum benefit for educational quality development.