Influence of financial policy on performance of selected public secondary schools in the North Rift Region, Kenya between 2015 and 2020
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Date
2023
Authors
Tanui, Ezekiel Kibet
Journal Title
Journal ISSN
Volume Title
Publisher
Kenyatta University
Abstract
The importance of financial policy in the performance of educational institutions cannot be underestimated. Key performance indicators would largely depend on funding. The performance of educational institutions is a key feature of the education system in any country. This has direct influence on the social economic development since the students’ academic outcomes will register as positive externalities and this in turn drive socioeconomic progress in a country. Crucially, financial resources play a pivotal role in the advancement of the education agenda. It is up to the government and other stakeholders to ensure that the required resources are provided for optimum school performance. Despite efforts by the Kenyan government, parents and other stakeholders to provide financial resources in secondary schools, the performance of many public schools remain poor. There are few studies on the influence of financial policy on the performance of educational institutions and this study should add to the current body of knowledge on financing secondary education. The main objective of this study was to determine the influence of financial policy on performance of educational institutions in North Rift region, specifically, Nandi and Uasin Gishu Counties. The specific objectives of the study were: To determine the influence of government financial allocation on performance of public selected secondary schools; To determine the influence of timing of release of government funds on performance of selected public secondary schools; To determine the influence of school fees revenue stream on performance of public selected secondary schools; To determine the influence of bursary on performance of public selected secondary schools. The theories used to frame this work were the Resource Based View, Human Capital and Contingency Theory. The study adopted interpretivist philosophical approach. The target population was 1,672 respondents from 278 public secondary schools. Using the Taro Yamane formulae a 322 sample size derived. The research used stratified sampling techniques. Self-administered questionnaires and interview schedules were used to collect quantitative and qualitative data. The questionnaire was validated through panel review, piloting and exploratory factor analysis. The questionnaire was then subjected to an inter-consistency test using a Cronbach’s coefficient. With an alpha of up to 0.6, the questionnaire was judged reliable. The research is descriptive and explanatory in design. Inferential analysis, specifically the chi-square was used to establish the relationship between variables. The independent variables included government allocation, timing of release of government funds, school fees revenue stream and bursary award to needy students. The dependant variable is performance of selected public secondary schools. The study concluded that financial policy influnces performance of public secondary schools. Public policy determines the government allocation to schools, timing of release of government funds, school fees revenue stream and financial aid to needy students. The results show that financial policy does influence performance of educational institutions. The study recommends that both the national and county governments should ensure that the amount allocated to finance school programmes is adequate considering high enrolment rate due to 100% transition policy. The National government should ensure that the disbursement of funds reaches the targeted schools on the stipulated time. The study also recommends that the Ministry of Education should come up with appropriate strategies that ensure that performance of the schools is not affected by unprecedented challenges brought about by pandemics such as COVID-19. The school management should encourage the parents/guardians to honour their agreement so as to avoid bad debts accruing. The stakeholders involved in the allocation of bursaries to public secondary schools should ensure that it is allocated on time. The study also recommends that the allocation of funds should consider the increasing number of needy students. The approval and release of funds should be simplified to avoid delays.
Description
A research thesis submitted to the school of law, arts and social sciences in partial fulfilment of the requirements for the award of the degree of doctor of philosophy in public policy and management of Kenyatta University, February, 2023
Keywords
financial policy, performance, public secondary schools, North Rift Region, Kenya