SOURCE:

Faculty: Education
Department: Educational Management And Policy

CONTRIBUTORS:

Ibe, N.C;
Ikediugwu, N;

ABSTRACT:

This study had a main purpose to assess financial management practices of secondary school principals in Anambra State of Nigeria for improvement of facilities. It was carried out by survey design. The population consisted of 257 principals, all of whom were used for the study without sampling. Structured questionnaire of 50 statement items constructed by the researcher was used as instrument for data collection. The instrument was face-validated by three well experienced lecturers in the faculty of education, Nnamdi Azikiwe University, Awka. It was pilot-tested for reliability in Abia State. Calculation of Cronbach Alpha (α) gave 0.70. Five research questions were answered using arithmetic mean (x) with decision point of 2.50 and five null hypotheses tested using z-test at 0.05 level of significance. Findings revealed that principals undertake to a high extent financial management practices of budgeting funds, sourcing funds and accounting for funds, while they undertake to a low extent disbursing of funds and controlling of funds. Findings of five null hypotheses revealed that there was no significant difference in the financial management practices of the principals. Based on the findings, it was recommended among other things that courses in financial management should be inculcated in the curricula of teacher education in both universities and colleges of education to equip teacher trainees with the requisite management strategies, ahead of appointment as principals in their service career.