STATUS AND CHALLENGES OF FINANCIAL RESOURCE MANAGEMENT IN THE SECONDARY SCHOOLS OF OROMIA SPECIAL ZONE SURROUNDING FINFINNE

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.