Funds Management Strategies and Effective Administration of Secondary Schools
CHAPTER ONE
Research Objectives
The general objective or main objective of this study is to investigate fund management strategies and effective administration of secondary schools by using Uyo High School, Uyo, Akwa Ibom State, Nigeria as a case study. The specific objectives are:
- i) To identify the different sources from which Uyo High School, Uyo, get funds for effective administration
- ii) To investigate the effects of inadequate funding of Uyo High School, Uyo, on effective administration
- To determine the reasons for inadequate financing of inadequate funding of Uyo High School, Uyo
CHAPTER TWO
LITERATURE REVIEW
INTRODUCTION
Our focus in this chapter is to critically examine relevant literature that would assist in explaining the research problem and furthermore recognize the efforts of scholars who had previously contributed immensely to similar research. The chapter intends to deepen the understanding of the study and close the perceived gaps.
Precisely, the chapter will be considered in two sub-headings:
- Conceptual Framework
- Chapter Summary
CONCEPTUAL FRAMEWORK
Funding
When funding is mentioned, the first thing that comes to mind is the availability of money for meeting the need for a given project or programme. It is a system of apportioning available capital belonging to an organization for meeting a need. Funding refers to a form of financial support that is given for the achievement of a project. According to the Online Business Dictionary (2013) funding is the provision of financial resources in order to meet a need, project or program. Money needed to run a project or programme in the school may be raised from within or outside the school. When funds are generated, they are usually disbursed based on the needs of the school. The process of making the acquired funds available to the units that require them either in the short or long run is referred to as funding.
Internally Generated Revenue (IGR)
Internally generated revenue (IGR) is the revenue that school administrators generate within and outside the school that helps to aid administrative pursuit. According to Ofoegbu and Alonge (2016) the various sources of internally generated revenue available to schools are fines and fees, earnings & sales, rent on school property, interests and dividends of school infrastructures and products; community support and grant from charitable organizations among others. Lewis (2003) states that IGR is the creation of “tangible” and “intangible” funds within the confines of one’s entity. It is a combination of all non-governmental monetary accruals to the institution and may involve diverse strategies.
Sources of Internally Generated Revenue (IGR) Available to Public Secondary School Principals
It is notable that many school administrators fail in their statutory functions in the identification of sources of school finances, methods employed in its collection and how the collected revenue are effectively applied to the school system. According to Emeni (2014), it has been observed that the condition of secondary schools has worsened so much that teaching and learning have received poor attention despite all the financial contributions of government and the exploration of other sources of funds available to schools. Most schools are in a dilapidated state because of poor management and inability to properly account for school finances by principals.
It is expedient that principals engage in sourcing alternative strategies to help in the adequate funding of schools. The could be in the form of fund raising ceremonies, allied school businesses, levies, school farm proceeds etc. Agabi (2014) identified other sources of internal revenue for secondary schools to include school fees, P.T.A levies, sales of farms proceeds, as well as proceeds from various school activities; community education support efforts, donations from individuals and charitable organizations through fund raising. In the same vein, effective management of these funds is very crucial in the achievement of the goals of school system education. This is because, one of the administrative functions of the school principal is the control of school finances.
CHAPTER THREE
RESEARCH METHODOLOGY
INTRODUCTION
In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.
RESEARCH DESIGN
Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e. mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
INTRODUCTION
This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of one hundred and nineteen (119) questionnaires were administered to respondents of which one hundred and nine (109) were returned while one hundred (100) were validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 100 was validated for the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS:
Introduction
This chapter summarizes the findings on funds management strategies and effective administration of secondary schools using Uyo High School, Akwa Ibom State as case study. The chapter consists of summary of the study, conclusions, and recommendations.
Summary of the Study
In this study, our focus was on funds management strategies and effective administration of secondary schools using Uyo High School, Akwa Ibom State as case study. The study is was specifically set to identify the different sources from which Uyo High School, Uyo, get funds for effective administration, investigate the effects of inadequate funding of Uyo High School, Uyo, on effective administration, and determine the reasons for inadequate financing of inadequate funding of Uyo High School, Uyo.
The study adopted the survey research design and randomly enrolled participants in the study. A total of 100 responses were validated from the enrolled participants where all respondent are staff of Uyo High School, Akwa Ibom State.
Conclusions
In the light of the analysis carried out, the following conclusions were drawn.
- There are variety of sources from which Uyo High School, Uyo, get funds for effective administration, among which include; school fees, P.T.A levies, donations from individuals and charitable organizations through fund raising, farms proceeds, examination levy, admission levy, and proceeds from school activities like inter house sports.
- Inadequate funding of Uyo High School, Uyo, really affects the effective administration of the school, this results to; inability to provide adequate classroom facilities, poor provision of teaching materials, poor maintains of school library, and inability to pay staff timely.
- The reasons behind inadequate financing of inadequate funding of Uyo High School, Uyo include; misappropriation of funds, politicization of the membership of secondary school management board, undue influence of ppsmb officials, sole dependence on government in funding education, unstable education policy/ programmes in nigeria, and poor methods of disbursing fund.
Recommendation
Based on the findings the researcher recommends;
- Principals should take budgeting more serious because of its role in effective fund management
- Principals should be strictly monitored by the Ministry of Education so as to ensure there is accurate record-keeping because of its role in effective fund management in secondary schools.
- Principals should explore the various sources of internally generating revenue to assist government in caring out school responsibility by a way of going to charity or donor organizations, corporate organizations and wealthy citizens to provide funds in the form of bursary, scholarship or education grant to curb the internal challenges rocking their schools. ·
- Principals should always imbibe the spirit of accountability as one of the hallmarks of effective fund management and ensure managerial resourcefulness in the schools, recognize relevant resource input and ensure human resource are well utilized to avoid misplace priority in the use of human and material resources. ·
REFERENCE
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