Financial management practices in public secondary schools: the case of jimma zone

Abstract

The purpose of this study was to describe the practices of financial management in government secondary schools of Jimma Zone. To this end, basic questions were formulated. The research questions emphasized on What are the major problems associated with financial management practices in secondary schools?, How do principals manage the funds available to them?, What is the practice of school principals for financial accounting?, What are the practices of the auditing system in Jimma zone government secondary schools?, What are the major sources of funds for the management of secondary schools? And also focused on the challenges prevailing for implementation. To conduct this study, the descriptive survey method was employed. One Zone and eight Woreda Education Office coordinators were selected as a sample by purposive sampling technique. From the total of 20secondary schools 8(40%) were taken as a sample by using the Multistage sampling method through stratified sampling technique. Then, from the sample schools, 53 administrative workers were also included as samples by using purposive sampling technique. Furthermore, Out of 204 secondary schools teachers in eight selected Woredas the total of 102 secondary school teachers were selected through stratified random sampling techniques by considering their proportionality. A questionnaire was the main instrument for data collection. Interviews and document analysis were used to substantiate the data gathered through questionnaires. The percentage and chi-square were utilized by using SPSS v.16.o to analyze quantitative data gained through the questionnaires. The qualitative data gathered during the interview sessions and document analyses were analyzed using narration. The result of the study indicated that,among other things, that:(1) The problems associated with financial management is the process of budget utilization is not appropriate and budget allocation is doesn`t coincide with the need of the schools,(2)The practices in managing the available funds, principals did not spend funds available in line with planned objectives,(3) The major sources of funds for the management secondary schools come from the federal, state and local government , (4) The practices of financial accounting the principals investigate every imbalance’s of staff found waiting , and (5) Budget is not transfer from one head to the others. The study suggested that there is a need for efficiency in workers, training for