The study has investigated the need of financial management skills for principals for utilization of funds and implementation of financial policy in schools. Three research questions and two null hypotheses were designed for the study. Population of the study was 382 male, 392 female higher secondary schools, 3489 male and 3209 female secondary schools of Punjab, 144 school principals, 72 from urban areas and 72 from rural areas were selected considering all 36 districts of Punjab. Simple random sampling technique was used to select 144 school principals for the study. Descriptive survey method was adopted. A questionnaire was used as instrument to collect data, and mean and standard deviation was used to analyze the data with t-test statistic to test the hypothesis at 0.05 significance level. It was revealed in findings that school principals need to have financial management skills for utilization of funds and implementation of school financial policy. Recommendations on the basis of findings were pointed out as the Government should organize training workshops, conferences and seminars to enhance the knowledge of school principals about financial management skills.
