Abstract:
The purpose of this study is to examine current practices and problems of
financial management system of Jimma zone secondary schools. To achieve
this goal the existing financial management practices, such as budget
planning, accounting methods and reporting system of secondary schools
were examined. Data for this study was collected using questionnaire,
interview, observation and document investigation. The study was
conducted in seven secondary schools, seven woreda finance and economic
development offices and seven woreda education offices of Jimma zone. The
study found out ,among other things, that:(1) The schools have shortage of
skilled work force in the account office,(2) School organizations are
characterized by lack of planning and loosely coupled financial
management,(3) The allocated budget from the point of achievement of the
educational objective was not sufficient, (4) There is no consistent
accounting system over the schools, and (5) The freedom schools have to
use the budget according to their desire is not flexible. The study suggested
that there is a need for efficiency in workers, training for staff members who
are working in the finance section of schools, and to give each school the
freedom, within agreed budget, to manage the school finance with close
supervision.
