The purpose of this study was to assess the practices of financial resource management and challengesrnin secondary schools of Silte Zone and forward the possible suggestion to alleviate the problems. Forrnthe execution of the study a descriptive survey design was used. In the study mixed approaches werernemployed. The sample teachers 96(26.6%) and 24(28.5%) PTSA members were selected by usingrnsimple random sampling technique. Additionally, all 12 principals, all 12 KETB chairperson, all 12rnschool vice principal and all four Woreda educational planners and development heads were includedrndue to their position and their high attachment with school financial resources management. Therninstruments of data collection were questionnaire, semi structured interview, observation and documentrnanalysis. The data were analyzed by using frequency, percentages and mean. The data gathered throughrnopen â€“ended questionnaire, interviews, observation and document analysis were analyzed qualitativelyrnthrough narration for the purpose of triangulation. As the finding of the study revealed the basicrnproblems in school financial management include inadequate human resources, low capacity of finicalrnmanagers to implement financial rules and regulations, having illegal purchasing practices,rninappropriate financial planning, lack of appropriate monitoring and evaluation (auditing), lack ofrncommitment, transparency and self-assessment were challenges for practicing financial resourcesrnmanagement in schools. Therefore, the Zonal educational bureau should hire adequate and qualifiedrnfinancial personal; encourage stakeholders to prepare professional development programs (such asrnseminars, workshops, conferences) to increase school finance personals knowledge on financialrnresource management in government secondary schools