The current approach to solving educational problems in Taiwan is to adopt policies employed in Western countries. However, given the very different cultural and educational environment of Asia, not all policies effective in Western countries are necessarily applicable to schools in Taiwan. Therefore, an examination of the feasibility and applicability of these policies is essential. This study examines whether the school-based financial (SBF) management that is effective in Western countries is applicable to schools in Taiwan. Focus group interviews composed of government officials, scholars, principals, department directors, and teachers were conducted, and a questionnaire survey was administered to 1000 school personnel. The results indicate that the SBF model that is effective in the West is also applicable to schools in Taiwan, and that the Taiwanese government should adopt SBF, while adapting it to suit the local environment.