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BUDGETING AS A MEANS OF
PERFORMANCE EVALUATION IN A PUBLIC SECTOR (A CASE STUDY OF LASU).
TABLE OF CONTENTS
CHAPTER ONE
1.0 Introduction
1.1 Historical
Background of Study
1.2 Statement of
Problem
1.3 Objectives of
Study
1.4 Research
Questions
1.5 Research
Hypotheses
1.6 Significance
of Study
1.7 Scope And
Limitation of Study
1.8 Definition of
Terms
1.9
Summary/Conclusion
References
CHAPTER TWO
LITERATURE REVIEW
2.0 Introduction
2.1 Purpose of
Budgeting
2.2 Types of
Budget
2.3 Preparation of
Budget
2.4 The Structure
of the Budget
2.5 Budgeting
Improvements Techniques
2.6 Performance
Budgeting
2.7 Budgetary
Control
2.8 Budgetary
Control in the Public Sector
2.9 Variance
Analysis
2.10 Summary
References
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Introduction
3.2 Research
Design
3.3 Data Collection Procedure
3.4 Questionnaire
Design
3.5 Identification
of Population
3.6 Determination
of Sample Size
CHAPTER FOUR
PRESENTATION AND ANALYSIS OF DATA
4.1 Introduction
4.2 Data Analysis
and Classification
4.3 Classification
of Data
4.4 Summary
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary
5.2 Findings
5.3
Recommendations
5.4 Conclusion
5.5 Suggestion For
Further Reading
Bibliography
Questionnaire
CHAPTER ONE
3.0 INTRODUCTION
One on the ultimate means of evaluating the performance of a
public sector can be attributed to budget or budgetary control. Most managers
planning and control to determine the goals and objectives of an organization
is geared towards accomplishing all activities of the organization to achieve
its desired goals. In other words, to ensure that the company will make a
projection of its cost and revenue (budget) while (control) is the cost of
ensuring that corrective actions are taken whenever cost/expenses incurred are
not of the same tune with what is budgeted by means of the management
performance evaluation.
Budget, when cost exceeds the expenditure (Surplus) and
expenses may exceed cost (Deficit). It is balanced when cost equals to
expenses.
Budgeting is universal and can be applied in private and
public sectors, since it has the sole aim of achieving its organizational
goals.
According to Wildavsky (1964), budgeting could serve as a
planning purpose. Planning is very vital, that’s why all business embraces the
planning actions to achieve corporate goals. It’s the process of establishing
goals and objectives and courses of action to attain it. Planning does not
really guarantee the success of an organization, because plans may be futile
sometimes due to the faulty performance of the functions of organizing,
motivating and controlling.
In budgeting, the budgets must know the company’s areas of
excellence, areas of monopolistic power, areas of competence and weakness as
well as applying ‘SWOT ANALYSIS’. To ensure that a realistic budgeting is
produced, the company should know the existing and foreseeable threats and
opportunities in their operating environments.
This project is centered on budgeting as a means of
performance evaluation in public sector, using Lagos State University (LASU)
Ojo as a case study. Investigations will be carried out on how the institution
prepares and executes its budget and how variances are reported for control
purposes.
1.1 HISTORICAL
BACKGROUND OF STUDY
The setting of this study is Lagos State University (LASU)
located at Ojo local government area of Lagos State. A bill passed by the Lagos
State House of Assembly and assented by the state government on the 22nd of
April, 1983 established the institution. There (3) committees were involved and
they recommended the followings:
(i) Agbalajobi
committee (April 1981) University of Technology.
(ii) Sobowale
review committee (June 1982) conventional university.
(iii) Dele
Fagbemirokun review committee (Feb. 1984) continued with the University project
and recommended a main campus at Ojo and Law and Humanities (Administrative
Record, Lasu 2004).
Lagos State University took 342 students in 1984, in 1989 the
number of students increased to 4459, while in 1994, it increased with 968
staffs made up of 300 academic, 176 administrative technical staff and 492
junior staff, about 60% of the academic were professors (Administrative
Records, LASU 2004).
Presently, the institution have about Eleven (11) campuses,
both Part-Time and Full-Time with satellite campus, amongst are; Ojo, Epe, LASU
Comm, School of Communication, Anthony, Agege, Jibowu, Isolo.
Ojo is the main campus, located at Badagry Expressway, Ojo
Lagos while Epe is the mini campus for Engineering and Pre-science degree
programme. Ikeja is the Medical school, while the rest are satellites campuses.
Hence, in all, the institution now have about Eight
Faculties, comprising of Arts, Science, Social Science, Management Sciences,
Law, Education and Engineering. The institution runs diplomas, degree and
postgraduate programme. The following professors served as Vice Chancellor of
Lagos State University:
(i) Professor
Folabi Olumide (1983-1989)
(ii) Professor (Mrs)
Jadesola Akande (1989-1993)
(iii) Professor
Enitan A. Bababunmi (1993-1995)
(iv) Professor Fatiu
Akesode (1996-2001)
(v) Professor
Abisogun Leigh
(2001-2005)
(vi) Professor Lateef
Akande Husein (2005 to date)
With the relevance to the focus of this study, administrative
records, Lagos State budget allocation record, and other Financial documents
like Education Trust Fund (ETF) will be used.
1.10 STATEMENT OF PROBLEM
Budgeting is an outline of organizations revenue expectation
and expenditure during a fiscal year. Hence, the budget is a powerful
instrument in the public sector in achieving set objectives, most especially,
management objectives.
Against this backdrop, this research work is meant to proffer
solution to the following problems putting the case study into consideration;
· Does Lagos State
University management embrace the formulation and implementation of a
comprehensive budget?
· What system of
budgeting is the management of LASU using?
· Does the system
of budgeting adopted, enhance quality performance of LASU?
· How efficient and
effective are the procedures involved in the reporting of variances?
· Does the LASU
management use the budget as the basis of performance evaluation in its
administration?
· Does the
budgeting form the basis of LASU’s Management decision-making process or it’s
just left as the paper work?
1.11 OBJECTIVES OF STUDY
The research is aimed at investigating and identifying the
problems facing institution that formulates and implement budget as a means of
performance evaluation in the public sector.
It seeks to face the followings enhance quality performance
of Lagos State University, Ojo
· To compare
budgeting as a means of performance evaluation based on the literature review
and study the public sector.
· To investigate
how variances are reported.
· To describe the
objectives and procedures involved in the budget processes.
· To compare the
importance of budgeting in decision-making.
1.12 RESEARCH QUESTIONS
The following research questions are to be addressed;
· What are the
steps involved in preparation of budget?
· What type of
budgeting does LASU use?
· What are the
factors responsible for preparation and implementation of the budget?
· Is the budget
planned, actualizing the objectives of the institution and to what extent?
· Does budgetary
control accomplish the objectives of the institution?
· How is budgeting
in Lagos State University in conformity with what is written in literature
review?
· What are the
impacts and attitudes of budgeting on the path of students and staffs of Lagos State
University?
· Who constitute
the budget committee?
1.13 RESEARCH HYPOTHESIS
This enables the researcher to make a valid conclusion to
either accept or reject the assumptions made or denied. This is in two parts:
NULL and Alternative.
Ho: is denoted by
null hypothesis.
H1: is denoted by
alternative hypothesis.
(i) Ho: That adequate control will not ensure
efficient
implementation of budget.
H1: That adequate control ensures efficient and
effective
implementation of budget.
(ii) Ho: That lack of budget discipline on the path
of
management and staffs does not hinder the corporate
performance of the organization.
H1: The lack of budget discipline on the path of
management and staffs hinders the corporate performance of
the organization.
1.14 SIGNIFICANCE OF STUDY
(i) The study will
enable us to stimulate increasing interest on the paths of students and also
institution sector in general.
(ii) The study is
significant with its outcome and it’s expected to enlighten readers on
budgeting and how it’s used as a means of performance evaluation.
(iii) It will enable
us to focus on the use of budgetary control and its effect on production.
(iv) It’s expected to
make organizations embrace budget and improve the quality of budgeting control
in business organizations.
(v) Above all, the
result is aimed at solution or ways of improving the purchase of budgeting in
Lagos State University.
1.15 SCOPE AND LIMITATION OF STUDY
The entire work of this research will be focused on Lagos
State University. More importantly, Lagos State University have about eight
campuses within the Lagos Metropolis, therefore this research work shall be
carried out at the main campus only in Ojo, Lagos. It will basically emphasize
on state government budget allocation, it’s implementation and control
mechanism by the management of the institution.
Despite the great interest of the researcher has in topic
resulting from his belief in the great importance of budgeting system as a
means of performance evaluation, the study will be limited to some extent, due
to the following constraints:
· Unavailability of
some vital financial statement of the institution due to lack of transparency
and accountability on the path of the management which is generally common in
public sector. To some extent, researcher may not be assessable to some
financial statement of the institution.
· Finance is
another limitation to the study. This is due to cost incurred on acquisition of
materials; payment for services rendered by typist, payment on photocopies
bookbinding and others. This will constitute a great constraint on the path of
the researcher.
· It is assumed
that the condition of the questionnaire by the employee may be at his disposal
but not what is being practiced in the institution.
· Training will
also contribute to the limitation of the study. Since time is very precious,
the study will be limited to information within reasonable time.
· The study is
limited to Lagos State University with the true view of what operate in other
institution due to competitive advantage.
1.16 DEFINITION OF TERMS
For the purpose of easier comprehension, it is necessary to
gain a significant level of the familiarity with those terms, as they would be
continually used in subsequent chapters.
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