ABSTRACT
This research
investigated the management of school funds for school effectiveness in
Ifako-Ijaiye local government area of Lagos state. Three research questions and
three null hypotheses were formulated to guide the study. A 24 item researcher
developed questionnaire was administered and retrieved from 141 teachers, 15
principals, and 15 bursars selected through proportionate stratified random
sampling technique from the local education district in Ifako-Ijaiye local
government area of Lagos-state was used to find out how secondary school
principals manage school funds for school effectiveness. Descriptive statistics and a one-way ANOVA were employed for
data analysis. Results of the study showed that issuing receipts for all monies
collected from parents, students etc,
involving sectional and departmental heads in budget preparation; rendering
financial reports to the Post-primary school management board, among others,
are ways principals in Ifako-Ijaiye local government area manage school funds.
The state government and owners of private schools (proprietors/proprietress)
should provide secondary schools with appropriate money “safe” or open a good
bank account for the school where the school funds can be properly kept.
TABLE OF
CONTENTS
TITLE PAGES
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of Content vi
CHAPTER ONE
INTRODUCTION
Background to
the Study 1
Statement of the
Problems 4
Research
Questions 5
Purpose of the
Study 6
Significance of
the Study 6
Scope of the
Study or Delimitation 7
Limitation of
the Study 7
Definition of
Some Terms 8
CHAPTER TWO
LITERATURE REVIEW
Principles and
Ways of Management of School Funds Resources 9
Factors
Affecting the Financial Management Practices of 12
Principals in
Secondary Schools
Accounting for
School Internal Funds 13
Sources of
Schools Funds to secondary Schools 15
CHAPTER THREE
RESEARCH
METHODOLOGY
Research Design 23
Population of
the Study 23
Validity of
Research Instrument 25
Reliability of
Instrument 25
Method of Data
Collection 25
Method of Data
Analysis 26
CHAPTER FOUR
DATA ANALYSIS AND INTERPRETATION OF RESULT 27-37
CHAPTER FIVE
DISCUSSION, CONCLUSION, IMPLICATIONS,
RECOMMENDATIONS AND SUMMARY
Discussion of
the Findings 38
Conclusion 38
Implications of
the Study 38
Recommendations 39
Summary 40
REFERENCES 42
APPENDIX
CHAPTER ONE
INTRODUCTION
Background
to the Study
The
term “management” can be defined as the process of organizing, planning,
leading, measuring and controlling as well as undertaking of risks and handling
of uncertainly, planning and innovation; co-ordination and routine supervision
(Aghenta, 2000). It is a process designed to ensure the co-operation,
participation intervention and involvement of people in the effective
achievement of a given objective (Fabunmi, 2000). It is also a social process
concerned with identifying, maintaining, motivation, controlling and unifying
formally and information organized human and material resources (with a system
(Musaazi, 1982). In such a social process, there is always a structural
hierarchy comprising the subordinates and Super-ordinates.
Management
of funds therefore deals with the provision, custody and disbursement of the
financial resources needed for the running of public, private or government
established schools.
Management
of funds in educational organization like secondary schools have been a very
sensitive and controversial issue because it exposes the strengths and weakness
of those entrusted to manage the fund. The National Policy on Education (FRN,
2004) acknowledges education as a vehicle for national development. The
achievement of educational goals of any nation depends largely on adequate
financial support. The funding and prudent management of scarce resources in
secondary schools are crucial issues, which should be handled with all amount
of seriousness. The principal of secondary school is therefore the fundamental
person upon whom the resource utilization of the school organization depends.
Effective and accurate financial
management is necessary in the school institution to avoid financial
mismanagement. In a place where the principal is weak and ineffective in
managing the resources of the school, success will be very difficult to
achieve. Financial management is one of the tasks of the school principals.
Ezeocha (1990) stated that “whether a school principal has a bursar or not he
has the duty of seeing that adequate financial provision is made in the school
budget. He also noted that effective management demands that budget proposals
be prepared before any new session. Ozigi (1981) stated that the greatest
problem militating and facing the educational institutions is the inappropriate
management of funds.
The principals of secondary schools have
major roles to play in the financial management and administration of the
schools they are heading and controlling. Some critics have argued that the
introduction of illegal levies by school principals brings untold hardship to
many parents leading to decline in students’ population. This, by implication,
affects the achievements of educational objectives as outlined in the national
policy on education.
In
recent times, some principals of secondary schools have been accused of
embezzlement of school funds, imposing unauthorized levies, diverting of school
funds for private use, abandonment of vital projects in pretense that they lack
funds.
Statement of the Problems
Occasionally
secondary school principals have been mostly accused for poor land inefficient
management of funds in their schools. There has been several report over the
radio of charges and counter charges against some principals regarding
over-spending inflating figures, collusion with school bursar, accusations of
diversion of funds; misappropriation and imposition of unauthorized levies,
lacking proper accounting skills and not generating enough funds (money) in
their schools . Ogbonnaya (2000) observed that poor management of funds in
secondary schools has created a lot of lapses, which have affected the
achievement of the desired educational goals. The principals on their own part
blame the government for poor funding of secondary schools, inadequate supply
of capital equipment and instructional materials, among others. One of the
greatest problems facing the growth and running of the secondary schools in
Lagos state is the inappropriate and mismanagement of the school funds.
Research Questions
Three
research questions are used to guide this research study. They include:
i) What are the ways principals manage
funds in secondary schools in Ifako-Ijaiye Local Government Area of Lagos
State?
ii) What are the factors affecting the
financial management practices of principals in Ifako-Ijaiye local government
area of Lagos-state?
iii)
What are the strategies used anmd
employed by the principals in the Ifako-Ijaiye local government area of
Lagos-State?
Hypotheses
i)
There is no significant difference
among the mean rating of principals of secondary schools, teachers and bursars
with regard to the ways principals manage funds.
ii)
There is no significant different
among the mean score of principals, teachers, and bursars with regards to the
factors affecting the financial management practices of the principals.
iii)
There is no significant difference
among the mean score of principals, teachers, and bursars with regards to the
strategies used and employed by the principals in the management of the school
funds.
Purpose of the Study
The
purpose of the study is to survey and investigate the various strategies and
ways of management of school funds by the principals, and bursars of secondary
schools within the Jurisdiction of Ifako-Ijaiye local government area of some
selected secondary schools in Lagos state. Moreover, it is also to assess the
method of improving the management of school funds by the principals and
bursars of secondary schools for school effectiveness and adequate running of
the school.
Significance of the Study
The
significance of this study is geared towards the enhancement of the management
of school, funds for school effectiveness through the principals and bursars of
the secondary schools in Ifako-Ijaiye local government area of Lagos-state. It
will equally help to examine and investigate the strategies or ways school
funds are managed and utilized by secondary school principals for efficient and
effective job productivity.
Scope of the Study or
Delimitation
This
research study focuses on the assessment and evaluation of management of school
funds for school effectiveness through the principals and bursars of secondary
schools within the jurisdiction of in Ifako-Ijaiye local government area of
some selected secondary schools in Lagos-state. This is to find out how funds
allocated to these school heads are utilized and managed effectively.
Limitation of the Study
Due to
available to the researcher few secondary schools will be used and
covered as major focus through the school principals and bursars of the
secondary schools and the study will also be restricted to in Ifako-Ijaiye
local government area of Lagos state.
Definition of Some Terms
i)
Management:
This can be defined as the process of organizing, planning, coordinating and
controlling of the school funds and human resources by the school principals
for school effectiveness in Ifako-Ijaiye
local government area of Lagos State.
ii) Administrator:
The administrators are all the school heads such as the principals, the
vice-principals, the H.O.D’s, Bursars, the year tutors etc in the secondary
schools in Ifako-Ijaiye local government area.
iii)Principal:
The
principals is the overall head teacher of the secondary school in Ifako-Ijaiye
local government area.
iv) Teacher: The
teachers is the person that is responsible for the dissemination and
impartation of basic knowledge, attitudes, ideas, beliefs and changes to the
students in the secondary schools in Ifako-Ijaiye local government area.
v)
Bursar:
The bursar is the financial manager that is charged and responsible for the
collection of school feed and issuing of school receipt for evidence of payment
made by the students in the secondary school in Ifako-Ijaiye local government
area.
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