Practices and problems of financial management system in jimma zone pubilic secondary schools

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.