ASSESSMENT OF FINANCIAL MANAGEMENT PRACTICES OF SECONDARY SCHOOLS IN ABIA STATE
Okeze, Wilson Obinna; Dr. Okpe Priscilla U. and Ngwakwe, Ezinne Judith
Dept. of Educational Management, Michael Okpara University of Agriculture, Umudike.
Corresponding Author: Email: obisolid626@yahoo.co.uk
Abstract
The study focused on financial management practices of secondary schools in Abia state. The study employed a survey research design. The area of the study is Abia state. Two research questions and two hypotheses were formulated. A sample size of 609 respondents comprising 374 teachers and 235 principals were selected from a targeted population of 3970 comprising 235 principals and 3735 teachers using proportionate stratified sampling technique. The instrument for data collection was a 4-point rating scale questionnaire which was validated by three experts from; College of Agricultural and Science Education in Michael Okpara University of Agriculture Umudike. Reliability coefficient values of .70 and .75 for the two clusters as a measure of internal consistency was obtained through Cronbach Alpha method. The 609 copies of questionnaires were administered with the help of three research assistants through direct delivery and recovery method. Research questions were answered using mean ratings and standard deviation and z-test were used for the hypotheses at .05 level of significance. The major findings revealed that there is no significant difference in the mean rating of principals and bursars on auditing practices of secondary schools in Abia state and that there is a significant difference between the mean score responses of principals and teachers on the financial record keeping practices of secondary schools in Abia state. Based on the findings, it was concluded that: Frequent assessment of financial management practice in secondary schools should be a priority, the government should punish any administrator who embezzles fund meant for school development, and expenditure in secondary schools should be backed with allocation to incur expenditure.
Keywords: Assessment, Financial Management Practices, and Secondary school.