Abstract:
The purpose of the study was to investigate the Status and Challenges of Financial Resource
Management in the Secondary Schools of Oromia Special Zone Surrounding Finfinne.
Descriptive survey design was employed for the study. It was conducted in seven secondary
schools. These schools were chosen by simple random sampling method. Data for the study
were collected through questionnaires, interviews, and document analyses. Questionnaires
were prepared and administered to 49 PTA and 56 KETB members selected by using
availability sampling techniques. All principals, schools finance workers and auditors were
interviewed and the analyses of necessary documents were made in all sampled secondary
schools. The data collected were analyzed by using percentages, means, and standard
deviation and an independent sample t-test used by computing the data on SPSS version 20.
The data gathered through open ended questions, interviews and document analyses were
analyzed qualitatively through narration for the purpose of triangulation. Finally, Findings
revealed that in Oromia special zone surrounding Finfine the secondary schools did not
manage properly their financial resources. The school finances were not efficiently and
effectively used to attain its intended goals, stakeholders did not participate in financial
planning, and there were poor school record keeping. The challenges were schools finance
budget summary were not announced and posted on bill board, lack of professional finance
worker, weak internal and external auditing. Generally, from the findings of the study, it was
concluded that secondary schools were not effectively played their roles in managing school
finance due to limitations of capacity in qualified man power. Finally, it was recommended
that the woreda finance office should train the school financial workers and administrators,
add the number of auditors in audit office, and professionally support to secondary schools.
the ministry of finance and economic corporation should improve the bid laws. Furthermore,
woreda finance office and woredas education office is responsible to give directives and
guidelines in the cases that whenever shortcomings and gaps are observed.
