Economical Evaluation of Public and Foreign Finances of Selected Secondary Schools

Abstract

The present situation of education in Slovakia is affected by various negative factors, like decrease of students for demographical reasons, discrepancy between kind and number of secondary schools and disregard to reactions of labor market. But, the main reason is an underfinancing across the education. Allocation of public finance by means of normative funding is inadequate. Normative funding forced secondary schools to accept students with low study score to gain more public finance. In the result it is wrong that school must find another foreign or external financial resource like grants and projects of the European Union. The aim of this paper is to assess the economy of selected secondary schools. Ten Business academies, with pupils aged 15-19 years old, established in Banská Bystrica and Žilina self-governing regions were examined. We used panel data gathered in school year 2013/2014 – 2017/2018 from valuable and verifiable sources like Annual reports of education and financial statements of schools. In paper we use qualitative method of semi-structured interviews with professionals in field to find out which indicators are suitable for economy measuring. Based on qualitative method we determined quantitative and financial indicators, like rate of public and external finance. We´re editing data by part of multi-criteria analyze, in the concrete standardized method. We get the economy result of selected secondary schools by integral indicator of applied mathematical method. In the conclusion of paper, we create economy ranking of schools and we suggest the economical solutions for schools with under average results. Our finding is designed by hands of Business academies for comparison with competition, founders of secondary school and resort of education.