Practices and Challenges of financial management in private and government secondary schools in Dukem town
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Date
2021-08
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Publisher
AAU
Abstract
The main objective of the study was to explore the practices and challenges of financial
management in private and government secondary schools in Dukem town. Therefore, this study
focuses on find out common sources of finances, find out how the schools manage the finance
earned from different sources, to identify the challenges in role in managing the finance and
measure taken. Descriptive method were employed to conduct the study and the sampling techniques.
Questionnaire, interview, and different financial documents were used as data collecting
instruments. Questionnaires for 7 school principal, 68 teachers, 8 financier personnel from four
schools and, interviews with 8 PSTA, 1 process owner from education office and 1 finance
process owners were conducted. The study discovered that the education budget comes from the
government, School internal income and community contribution were the main sources of
education budget in study schools. Teachers were selected through stratified random sampling
techniques; whereas school PSTA, principals, vice principals and financial personnel were
selected trough available sampling techniques. The statics used to analyze the data were
frequency, mean and one way Anova test. The study found that the lack of diversification sources
of school finance, lack of participation of stakeholder in budget preparation, lack of financially
skilled man power finance personnel, lack of relevant training, absence of internal and external
auditing activity, delay in releasing budget, engagement of school management on different
duties and lack of effective measures taken were the major challenges of financial utilization in
Dukem Town Secondary Schools. Based on the finding of the study, it was recommended that all
the stakeholders should involve in diversification of school sources of finance, participate
actively in financial management system ,fulfill skilled man power of finance personnel, also the
finance and economic development office should audit the financial activities performed in
accordance with the existing financial guidelines, regulations and principles of ministry of
finance to minimize the stated problems and take effective measure up on problem makers of the
school finance
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Keywords
Teachers were selected through stratified random sampling techniques; whereas school PSTA, principals, vice principals and financial personnel were selected trough available sampling techniques