Thecurrent Practices and Chalenges of Financial Management in Some Selected Government General Secondary School’s of Kolfe-Keranio Sub-City. Addis Ababa
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Date
2014-06
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Addis Ababa University
Abstract
The main objective of this study was to assess the Implementation of financial management in six
selected government general secondary schools in Kolfe Keranio sub-city. It was aimed at
assessing the financial management activities such as budgeting, non public finance sources,
accounting, auditing, purchasing and reporting practices of general secondary schools.
Descriptive survey design is used to carry this study. Three groups of respondents participated in
this study. These were academic staff, financial officers and PTSA’s members. Sample schools
and respondents were selected by purposive sampling technique due to their direct relation with
the issue under study and also to gain sufficient information. The data were collected through
questionnaire, interviews and Review of Documents. The collected data were analyzed
quantitatively through mean values, percentages and chi-square tests and qualitatively.
The main findings of the study showed that the degree of implementation of the Financial
Management Guidelines was found minimum , efficient utilizations of allocated budgets for
intended purposes, the competence of financial personnel in the financial task was good, the
materials purchased by purchasing department were required amount and have quality,
community contribution, schools’ internal income and NGOs were the sources of education
finance in addition to the public budget. Public budget was allocated to schools based on the
previous year’s performance and the number of students in the schools, Schools have shortage
human resource in their finance offices absence of the participation of all staff members in
budget preparation and financial activities absence of internal and external auditing practices,
lack of training on budget preparation, accounting, auditing and reporting practices the standard
of account office was poor and also lacks the necessary furniture and equipments, the filling of
financial statement in appropriate.
Major recommendations include participation of all school staff personnel in budget
preparation, assigning additional trained personnel for school’s finance office, the provision of
training, school’s should conduct internal auditing and the sub-city. Finance and economic
development office should conduct external audit at least every quarter, schools and sub-city
finance and economic development office prepare standard office and also conduct close
supervision in order to reduce in appropriate filling of financial statements.
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Keywords
Thecurrent Practices and Chalenges, of Financial Management