The ultimate purpose of this study was to investigate the practice and challenges of school financial resource management implementation in Bahir Dar city administration. The study employed mixed methods with descriptive survey research design from a comparative perspective. Simple random sampling method was employed to draw 126 teachers. Besides, seven principals, seven vice principals and seven finance heads were taken through purposive sampling technique. Questionnaires, interviews and document analysis were data collection tools. To analyze the collected data, frequency, percentages, one sample t-test, independent t- test, one-way ANOVA and post-hoc multiple comparisons were applied. Findings showed that there is a statistically significant mean score difference between government and private secondary schools in financial resource management.