FINANCIAL MANAGEMENT PRACTICES OF SENIOR HIGH SCHOOLS IN THE ASHANTI REGION: A COMPARATIVE STUDY OF PUBLIC AND PRIVATE SCHOOLS. SAMUEL FRIMPONG MBA (FINANCE) Kwame Nkrumah University of Science and Technology (KNUST) Kumasi-Ghana Email: frimps88@gmail.com ABSTRACT The study specifically explored the sources of income and the application of cash in the senior high schools and how effective the practices have been. The study employed descriptive survey research design and it was a comparative study of private and public senior high schools. The study was undertaken in two schools- one private and one public. Data was collected from 4 respondents comprising of two (2) headmasters and two (2) bursars. Moreover, the study relied mostly on the schools’ financial reports of the currents years for the analysis. The study established that sources of income available to public school which include school fees, Government grants, donations, PTA and HIPC funds are more than the funds available to private school which only comprise of school fees, donations and PTA. Insufficient cash, huge students debt, no support from government to private schools and little or not enough support for public schools and many other challenges are impeding the achievement of efficient and effective practices of financial management. The pattern of the schools’ spending is aided by budgets for the schools however, due to some circumstances, the budget is sometimes neglected