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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Publisher

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,

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