Factors affecting financial management in private schools in Dar es Salaam: A case of Kinondoni municipal
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Date
2013
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Journal ISSN
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Publisher
Mzumbe University
Abstract
This study presents the assessment of the factors affecting financial management in private schools particularly in Kinondoni municipal. Specifically, the study assesses the financial management and performance of private schools; examine the financial management practices in private schools; and examine challenges facing financial management in private schools. Data for this research was collected using structured questionnaires, primary data, secondary data, observation and interview. The research also used qualitative and quantitative methods of data analysis. Notably, this study use 51 respondents as sample size It was identified that Private schools faces factors affecting financial management as follows; staff resistance, Management commitment and system complexity and capacity of the schools. However, most of the respondents decided that financial management and performance of private schools are good. Notably, challenges facing financial management in private schools are poor level of bursar’s computer literacy, Poor level of computer facilities and Minimum involvement of accounts staff i.e. bursars. The Study depict that, financial management key areas are policy dealing with financial controls with proper implementation and monitoring efforts in place; adequate bonding of employees who handle money; complete and up-to-date accounting records. Moreover, Private schools bursar managers must assess risks and develop financial control procedures that address these risks in a cost effective manner. Also, management of the private schools should put in place modern financial management control systems especially adoption of computer related packages to ensure they are able to plan properly and avoid financial surprises.
Description
A research dissertation submitted in partial fulfillment of the requirements for the award of the degree of Master of Business Administration in Corporate Management (MBA-CM) of Mzumbe University Dar es Salaam Campus College
Keywords
Private schools, Financial management, Kinondoni municipal council
Citation
APA