Financial Management Skills and Financial Accountability of Public Primary Schools in Kakamega County, Kenya
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Date
2023
Authors
Ochanda, Doris Juma
Journal Title
Journal ISSN
Volume Title
Publisher
kenyatta university
Abstract
The concept and practice of financial accountability of schools is paramount in ensuring received school funds are used for their intended purposes. The study general objective was to determine the effect of financial management skills on financial accountability of public primary schools in Kakamega County, Kenya. Specifically, study sought to determine the effect of budgeting skills on financial accountability of public primary schools in Kakamega County, Kenya, to determine the effect of cash management skills on accountability of public primary schools in Kakamega county, Kenya, to determine the effect of financial analysis skills on accountability of public primary schools in Kakamega county, Kenya and further establish the moderating effect of Parents Association participation on the relationship between financial management skills and accountability of public primary schools in Kakamega County, Kenya. Study was grounded on four theories; stewardship theory, public budget theory, game theory and theory of financial control. Positivism research philosophy and descriptive research design were adopted in the study. Study target population comprised 883 public primary schools in Kakamega County from which stratified random sampling was employed to sample out 35 public primary schools. School accounting officers; school heads, BOM Chairpersons and accounts clerks formed study participants. Study used primary data collected by use of questionnaires administered to the 105 school accounting officers. A total 79 questionnaires were duly filled and returned. Aside questionnaire being reliable, data was also found to be homogeneous and normally distributed with no intercorrelation among predictor variables. From ANOVA findings, it was established that the model adopted in study was significant. Study further revealed that budgeting skills have positive and statistically significant effects on financial accountability of public primary schools in Kakamega County. Cash management skills were found to have positive and statistically significant effects on financial accountability of public primary schools in Kakamega County. Results also showed financial analysis skills were positive and statistically significant predictors of financial accountability of public primary schools. On the moderating effect of Parents Association participation, it was established that Parents Association participation had a statistically significant moderating effect on the relationship between financial management skills and financial accountability of public primary schools. Study recommends that MOE organizes regular trainings on budgeting for school accounting officers with emphasis on budget tracking and budget implementation. As well, schools need establish operational procurement departments to facilitate procurement of goods, services and works as stipulated by the government under the Public Procurement and Disposal Act 2015. Study suggested that studies be done on other factors aside financial management skills to establish their effects on school’s financial accountability. Study also suggested that similar researches be carried out in different counties aside Kakamega County and in private primary schools within Kenya for comparability purposes and value addition to this area of research.
Description
A Thesis Submitted to the School of Business, Economics and Tourism in Partial Fulfilment for the Award of Degree in Master of Science (Finance) of Kenyatta University.
Keywords
Financial Management Skills, Financial Accountability, Public Primary Schools, Kakamega County, Kenya