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MANAGING SCHOOL FINANCE
FOR BETTER LEARNING OUTCOMES
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF
THE STUDY
Growth and development of any organization can be achieved
through the proper management of its finances. Finance is the life-blood of any
institution. When finance is accountably used, success is achieved but when it
is misappropriated, the reverse becomes the case. The top priority of an
organization is the actualization of its goals and objectives and that is why
it is pertinent for organizations to harness their human, material and
financial resources to achieve these set goals (Heuneman 1983).
Management of school finance involves how to source for fund,
increase the fund, invest it and account for the fund used in fixing up
programmes and projects of a school. The main purpose of finance management in
an organization is sourcing for fund and ensuring that the sourced fund is put
into efficient and effective use. This is quite important due to the
availability of scarce resources in other for optimal usage of those resources
(Ogbonnaya, 2000). A study that was carried out in Uganda showed that just a small
percentage of the fund allocated to the education sector was properly utilized,
in fact, it was about 13% that was allocated to the education sector (Hallak
and Poisson, 2001). The implication of mismanagement of fund is that it will
increase the cost of some fees in the school; efficiency will not be achieved
coupled with conflicts in decision making. Of which secondary schools in Lagos
state suffer from these. Mismanagement of education funds affects the quality
and availability of education (Poisson, 2001).
However, a school’s finance that has been misappropriated
leaves the school with an unequipped library, science lab, dilapidated
structures, and poorly remunerated teachers; which adversely leaves the
students with nothing but a poor performance in their academics now and after.
A research carried out by UNESCO proves that there is a very strong
relationship between the quality of education and the proper utilization of the
funds on the performance of a student (UNESCO, 2005).
Managing of funds in Lagos state secondary schools will help
provide facilities that will aid teaching and learning in schools, consequently
the academic performance of students. This is because with learning facilities
on ground the skills of the students will be discovered and polished to achieve
success and even scientific ideas. When these facilities are provided, it will
be beyond what the teacher said in class (theory) to what they can see and
practice with (Ajayi and Akinwumiju, 1990). The quality and availability of teaching/learning
materials depend on the amount of money spent on acquiring them. It has been
discovered from different authors that the quality of education largely depends
on the management of school finance. The added that the proper management of
these resources lead to proper harnessing of physical, material and human
resources required to achieve quality education (Adeogun ,2001; Oni,1995;
Aghenta, 1999; Sodimu,1998).
The possible factors that could lead to the mismanagement of
funds are delay in the release of funds, uneven distribution of limited
resources, poor orientation of the school administrators on the management of
funds, unmerited appointment of school administrators by politicians, poor
record of funds by the school bursary department and non-payment of teachers’
salaries.
school finance is meant for the day to day running of the
school, therefore, it is pertinent for the school heads to map out the budget
of the school early enough in order to know the amount left in the school
treasury and how much is needed to carry out programmes/projects of the school.
Consequently, it has been observed that some head teachers or
principals in Lagos state secondary schools mismanage funds not because of poor
planning and budgeting, but through embezzlement. The necessary supervisory
bodies in Lagos state have not paid attention to this problem and it is
affecting the growth of education in the state.
All the different stages of education in Nigeria has its
objectives it is meant to achieve, like the secondary schools objectives are to
equip Nigerian youths to contribute meaningfully to the development of the
country and preparedness for higher education (FRN, 2004). The truth still
remains that funds are needed to actualize these objectives.
It is therefore clear that the outcomes from students in
Lagos state secondary schools is quite discouraging due to mismanagement of
school finance; and that is why this study is conducted to support the proper
managing of school finance for better learning outcomes in Lagos state
secondary schools.
1.2 STATEMENT OF
THE PROBLEM
Mismanagement of funds has always been a threat to different
organizations in Nigeria, including the educational system.
The learning environment of most secondary schools in Lagos
state is an obvious proof of mismanagement of funds. Grasses grown too tall as
trees with no one to trim them, no drainages, dirty and wrong method of refuse
disposal.
Still in line with this is poor remuneration of teachers. Due
to poor managing of funds in secondary schools in Lagos state, teachers are
seen discharging their duties with levity. Most of them come late to school,
some do not go for their classes, and some have turned the learning ground to a
fun fair arena where they chat, gossip and even do their private businesses;
thus, affecting the academic performance of the students of Lagos state
secondary schools.
In addition, due to mismanagement of funds, educational
learning and teaching facilities are not provided to aid teaching.
Infrastructure like conducive classroom, desks/chairs, computers, equipped
libraries, equipped laboratories are in demeaning states; which affects the
performance of students in internal and external examinations.
1.3 OBJECTIVES OF THE
STUDY
The major
objective of this study is to investigate managing school finance for better
learning outcomes in Lagos state secondary schools.
Other specific objectives include:
a) To examine the
correlation between managing school finance and learning outcomes.
b) To investigate the
extent of Lagos state secondary schools’ finance management.
c) To identify proper
ways of managing school finance in Lagos state secondary schools.
d) To examine other
means secondary schools in Lagos state can generate revenue aside from the
government.
1.4 RESEARCH
QUESTIONS
The following
research questions are generated to guide this study:
a) Is there a
correlation between managing school finance and learning outcomes?
b) What is the extent
of Lagos state secondary schools’ finance management?
c) What are the
proper ways of managing school finance in Lagos state secondary schools?
d) What are the other
means secondary schools in Lagos state can generate revenue aside from the
government?
1.5 RESEARCH
HYPOTHESIS
H0: There is no
correlation between managing school finance and learning outcomes.
H1: There is a
correlation between managing school finance and learning outcomes.
1.6 SIGNIFICANCE OF
THE STUDY
This study is meant to inform, educate, and enlighten general
public, school management and the government on managing school finance for better
learning outcomes.
It is meant to inform school administrators that it is very
pertinent to properly utilize finance allocated to secondary schools to ensure
effectiveness and efficiency in the education sector.
To the government it is meant to remind them that they should
request for an account on how every spent on education is utilized by school
administrators, in other not to give room for corruption in the education
sector.
This study will be of immense benefit to other researchers
who intend to know more on this topic and can also be used by non-researchers
to build more on their work. This study contributes to knowledge and could
serve as a guide for other work or study.
1.7 SCOPE OF THE
STUDY/LIMITATIONS OF THE STUDY
This study is restricted to managing school finance for
better learning outcomes, a case study of Lagos state secondary schools.
Limitations of study
1. Financial
constraint- Insufficient fund tends to impede the efficiency of the researcher
in sourcing for the relevant materials, literature or information and in the
process of data collection (internet, questionnaire and interview).
2. Time
constraint- The researcher will simultaneously engage in this study with other
academic work. This consequently will cut down on the time devoted for the
research work.
1.9 DEFINITION OF
TERMS
MANAGING: This refers to having executive control or
authority; being economical.
SCHOOL FINANCE: This is the money provided by a government or
raised by parents and teachers to finance the running of a school.
LEARNING OUTCOMES: Are statements that describe significant
and essential learning that learners have achieved, and can reliably
demonstrate at the end of a course or program. In other words, learning
outcomes identify what the learner will know and be able to do by the end of a
course or program.
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