Abstract:
Problems financial management in Borena zone secondary Schools are many. As number of new
secondary schools built over the past few years, the trend of financial management looks quite
problematic and should not be overlooked. The purpose of this study was to assess the practices
and challenges of financial management in secondary Schools of Borena zone. This study
incorporated qualitative and quantitative data so as to adequately touch the challenges of financial
management and its practices in secondary school of Borena Zone. To this end, descriptive survey
research method which is helpful in acquiring relevant and precise information has been
employed. Sources of data for this study included 11 principals, 11 vice principals, 8 supervisors.
As well as PTAs, financial experts from WoFED and WoE from 7 Woredas. Stratified sampling
was employed to divide the zone in to two, out of which 7 sample Woredas were taken by lottery
method. School leaders, WoE and WoFED experts were taken by available sampling while PTAs
were purposively taken. Finding of this study revealed that the problems of financial management
such as lack proper financial recording, disproportionate allocation, lack of school leaders’
knowledge, absence of transfer of some decision making power, misappropriation and abuse of
finance, weak community participation and corruption are phenomena in secondary schools.
Thus, above problems have been challenging and affecting the effective financial management of
Schools and entire education activities. Therefore, for the improvement of the problem it is
recommended that there should be awareness creation over criteria for allocating budgets, Schools
should be enabled to participate in financial decision making, there should be capacity building
and empowerment by practical on job trainings, collaboration of school with districts to raise
community participation, devolution of financial management to school levels, conduct auditing
regularly, and reinforcement of consistent mechanism of support, follow up so as to minimize
problems of financial management in secondary Schools.
