An Evaluation of Financial Management Practices in Kenyatta University, Nairobi. Kenya
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Date
2005
Authors
Wandabwa, Henry M. W.
Journal Title
Journal ISSN
Volume Title
Publisher
Kenyatta University
Abstract
In many countries of the world there have been major changes in the financial operations
of public universities. In KU, the changes have occurred within the context of
diminishing public resources and this has translated in most instances into financial
constraints. The situation has led to pressure from government and from within the
university itself in some cases for a diversification in the sources of financial support for
the university. It is clear that KU can no longer rely solely on government funding if it is
to remain financially healthy. New procedures and criteria for the allocation of resources
and the evaluation of the uses made of increasingly scarce resources are essential. In
some institutions Financial management has become much more akin to business
management, involving decisions on financing sources (lOA), savings and investments
and budgeting and management of short-term assets.
This study therefore intended to evaluate these financial management practices in KU.
The research used secondary data to evaluate these financial management practices. The
results were analysed using tables and charts. This study found out that the major
challenges facing KU is the sourcing of funds and the adoption of proper budgeting
systems. From the study it was noted that KU had highly benefited a lot from alternative
financing by paying salaries on time. Budgeting system needed to be addressed as it's
facing a lot of problems.
Description
A Project Submitted in Partial Fulfilment of the Requirements of the Degree of Masters in the School of Business Administration of Kenyatta University September 2005
Keywords
Evaluation, Financial Management Practices, Kenyatta University, Nairobi, Kenya