In view of redressing past imbalances created by the apartheid regime and achieving equity in funding public schools, the post-1994 government introduced the Norms and Standards for School Funding policy that severely reduces state funding to schools located within affluent areas. However, the South African Schools Act, No. 84 of 1996 makes provision for school governing bodies (SGBs), responsible for financial and physical resource management of schools, to supplement state funding. In order to ensure that effective teaching and learning takes place, self-managed SGBs secure funding from parents, corporates and the broader community through school (user) fees, donations and unconventional fundraising projects. These additional funds enable SGBs to provide schools with state-of-the-art physical resources, and to employ teaching and non-teaching staff not provided for in the post-provisioning norms determined by the department of education. Using quantitative research, this study aimed to determine how self-managed SGBs manage funds through user fees and other fundraising initiatives. Findings revealed that governing bodies of most self-managed schools were able to secure substantial funding from school fees and other fundraising initiatives, and managed the funds effectively and efficiently.