Influential Factors to Financial Management in Chegutu District Secondary Schools of Mashonaland West Province, Zimbabwe
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Date
2020
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Abstract
The study explored factors that influence financial management
in Chegutu District Secondary Schools of Mashonaland West
Province, Zimbabwe. The study was stimulated by the serious
financial challenges in secondary schools as characterised by
failure to follow laid down procedures, disagreements,
inadequate training and lack of knowledge by both school heads
and SDC members in managing finances. The interpretive
paradigm and qualitative approach guided the study. A case
study design was adopted and purposively sampled participants
constituted five school heads, five School Development
Committee chairpersons, five School Development Committee
treasurers and five school bursars. Thematically analysed data
was collected through semi-structured interviews and document
analysis. The findings revealed that manuals and policy circulars
influence the way schools formulate their budgets as they give
clear steps that should be followed. It also emerged from the
study that the school finance committee is responsible for
drawing the school budget after consultation with other
stakeholders. It was found that training of school heads, School
Development Committee members and bursars influence
financial management to a larger extent and there is a very
strong relationship between financial management training and
effectiveness of financial management in secondary schools. The
study concluded that good working relationship among
stakeholders and lack of knowledge by both school heads and
School Development Committee members in managing school
finances greatly influence the way they execute their duty of
managing school finances. The study recommends further
research that explores strategies that can be established for
improving the way schools manage finances.
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Ndhlovu, J., Sibanda, L. and Manthwasa, J. (2020) Influential Factors to Financial Management in Chegutu District Secondary Schools of Mashonaland West Province, Zimbabwe.Randwick International of Education and Linguistics Science (RIELS) Journal 1(3): 330-340