The Department of Education continues to upgrade its services to enhance teaching standards and learning outcomes. One of the reforms is the transference of responsibilities on school to manage their operation and resources for school development so as to develop an environment that facilitates continuous improvement. However, school budget preparation and implementation by the school principals need to be improved to ensure transparency and accountability in the utilization of school funds. Connectedly, DO_s2016_13 otherwise known as ―Implementing Guidelines on the Direct Release and Use of Maintenance and Other Operating Expenses (MOOE) Allocations of Schools, including Other Funds Managed by Schools‖ was issued to deepen the decentralization of education management. Thus, school principal has the authority to manage school finances.