Financial Management Practices and Performance of Government Projects in Kitui County, Kenya
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Date
2022-11
Journal Title
Journal ISSN
Volume Title
Publisher
International Academic Journal of Economics and Finance
Abstract
Financial management entails the process
of planning, organizing, controlling, and
monitoring financial resources to achieve
institutional goals and objectives. A
descriptive research sought to examine the
relationship between financial management
practices (financial planning, financial
monitoring, financial control, and financial
evaluation) and performance of Kitui
county government’s projects. The study
sampled 67 participants from 207
employees of Kitui county government
working under ministry of finance and
economic planning. Data was collected
using structured questionnaires and
analyzed using descriptive and inferential
statistics. The findings revealed that there is
a insignificant positive correlation between
financial planning and government project
performance (r =0.129, P=0.340); a
significant positive correlation between
financial monitoring and project
performance (r = 0.367, p=0.005); a
positive and significant correlation between
financial control and project performance (r
=0.533, P=0.000); and a positive and
insignificant correlation between financial
evaluation and project performance (r
=0.245, P=0.063). Therefore, the study
concludes that financial planning and
financial evaluation positively affects
government project performance, but the
effects are not significant. The study further
concludes that financial monitoring and
financial control have a positive and strong
effect on the performance of government
projects in Kitui County
Description
Journal Article
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Citation
Musyoka. J., Ndede, F. W. S. (2022). Financial management practices and performance of government projects in Kitui County, Kenya. International Academic Journal of Economics and Finance, 3(8), 123-144