Status and Challenges of Financial Resource Management In The Government Primary Schools of Laga Tafo Laga Dadhi Town administration
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Date
2020-07
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AAU
Abstract
The study’s main objective focuses to assess the status and challenges of financial resource
management, particularly the execution and reporting systems, in Government primary schools
of Laga Tafo Laga Dadhi town administration. The study employed descriptive survey design to
assess the practices and constraints of financial resource execution and reporting system.
Accordingly, seven government primary schools were selected using comprehensive sampling,
other government sectors such as education, and finance and economic cooperation were
sampled using purposeful sampling techniques. The participants of the study were three FEC
internal auditors, and five education office expertise’s were taken as part of the study
purposefully; on the other hand seven principals, seven vice principals were participated using
comprehensive sampling techniques; and also 35 PTSA members and 20 KETB were sampled
using purposive sampling. Overall out of 119 targeted populations 77 were sampled, 74 returned
the questionnaire paper, which is 94.81% response rate. Both primary and secondary data
sources were utilized to collect data. Furthermore, the quantitative and qualitative data collected
from primary and secondary sources using data collection instruments like questionnaire,
document and interview. From the collected data the following major findings were obtained.
The findings related to trends financial execution exposed that, although financial planning
conducted with time frame, and vouchers are prepared by the schools; there is a limitation in
accountants/finance officers’ experience, guideline, proclamation, regulation and directive
enactment as well as procedures and follow-up. The practices of financial execution regarding
planning, participation, approval, experience, enactment of regulation, and directives, keeping
financial procedures, capacity building and effective and efficient utilization status were weak.
Besides, the findings related to the financial resource recording and reporting systems at the
government schools of Laga Tafo Laga Dadhi town administration revealed that majority of the
respondents positively reacted on the presence of financial recording documents and
preparation; however the recording, approval of reports and transparency of financial resource
execution shows certain limitation from respondents’ data. The study concluded that with certain
achievements particularly the document preparation, random budget execution; there is huge
gap in the execution and reporting financial resources in line with the goals of an institution and
GAAP. Thus, the researcher suggests the transparency and accountability; capacity building for
accountants and PTSA members, updated regulation and directives; and also continuous follow
up by concerning bodies.
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Keywords
execution, financial resource management, PTSA, reporting and recording,