Financial Management Practices and Funds Management in Public Secondary Schools in Kilifi County, Kenya

Simple item page
dc.contributor.authorKalume, Seith Baya
dc.contributor.authorNg’ang’a, Peter
dc.date.accessioned2024-06-12T08:17:49Z
dc.date.available2024-06-12T08:17:49Z
dc.date.issued2024-06
dc.descriptionArticleen_US
dc.description.abstractEffective fund management in secondary schools in Kenya and across the world contribute to the economic development of those countries. The handling of funds in many public secondary schools has encountered several obstacles, including instances of mismanagement. Therefore, this brings out the issues on fund management challenges in Kenyan Public Schools. The research was led by the aforementioned precise objective; to establish the effect of budgeting process on fund management in public secondary schools in Kilifi County, Kenya. Research was underpinned by: Stewardship theory of management and Contingency theory. The study utilized a descriptive research design and the target audience was 107 public secondary schools in Kilifi County. Stratified random sampling was utilized to arrive at a sample of 85 respondents. The study utilized primary data which was obtained via a questionnaire where a drop and pick method was adopted. Data collected was scrutinized using SPSS software (version 26) using both descriptive and inferential statistics. Descriptive statistics focused on means and standard deviation and represented in terms of graphs and charts. Inferential statistics sought the relationship between the study variables by running correlation and regression analysis while multiple regression was used to express the contribution of each variable. Further diagnostic tests in terms of normality, multicollinearity and Homoscedasticity was conducted before running multiple regression. Ethical consideration which includes guidelines governing the research was fully followed during the research. The study showed that budgeting process had the significance threshold of p< 0.05 hence had statistically significant effect on fund management of public secondary schools. The study concluded that popular of the responders established to abundant magnitude with the fact that budgeting process indeed affected the fund management of public secondary schools. The study recommended that the schools should involve stakeholders in budget preparation and compare current and previous budgets. It should also ensure approval of budget on yearly basis and ensure adherence on budget estimates. It also recommends frequent monitoring and evaluation of the budget but also ensure they involve the accounting experts.en_US
dc.identifier.citationKalume, S. B., Ng’ang’a, P. (2024). Financial management practices and funds management in public secondary schools in Kilifi County, Kenya. International Academic Journal of Economics and Finance, 4(2), 306-323.en_US
dc.identifier.urihttps://iajournals.org/articles/iajef_v4_i2_306_323.pdf
dc.identifier.urihttps://ir-library.ku.ac.ke/handle/123456789/28339
dc.language.isoenen_US
dc.publisherIAJEFen_US
dc.subjectBudgeting Processen_US
dc.subjectBook Keepingen_US
dc.subjectFinancial Controlen_US
dc.subjectProcurement Processen_US
dc.subjectFund Managementen_US
dc.subjectFinancial Management Process.en_US
dc.titleFinancial Management Practices and Funds Management in Public Secondary Schools in Kilifi County, Kenyaen_US
dc.typeArticleen_US
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Financial Management Practices and Funds Management in Public Secondary Schools in Kilifi County, Kenya.pdf
Size:
441.5 KB
Format:
Adobe Portable Document Format
Description:
Full-text Research Article
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
RP-Accounting and Finance Department