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Title: An investigation on the effectiveness of budgeting as a management tool in improving financial management: case of government schools in Masvingo district
Authors: Taonana, Ronald
Keywords: Budget management
Financial management
Issue Date: 2017
Publisher: Midlands State University
Abstract: Government schools like any other organisation are an embodiment of the financial and liquidity constraints summoning the nation which impinges mobilisation the much needed revenue for these institutions to scale in solving the complex and diverse learners’ needs. In light of the above mentioned systematic risk, budgeting is the most common and widely adopted management tool for financial planning and control in fostering financial performance across sectors around the globe. This study sought to establish the budgeting systems being used in government schools as well as examining government school’s adherence to budgeting principles in their budgetary processes and ultimately examine the effectiveness of budgeting principles in fostering sound financial management. In order to realise the objectives of the study relevant literature from various authors was gathered and critically reviewed indicating the research gaps to be filled through empirical investigation..Furthermore, the study employed a deductive research design which is related to a positivist research philosophy to obtain both quantitative and qualitative data from the respondents using structured questionnaires and personal interviews for data reliability and validity. A sample size of 80% was used to determine the research sample of sixty-eight (68) respondents made up of 12 Ministry of Education employees, 8 school heads, 8 bursars and 40 school finance committee members using the purposive sampling technique. Data collected from the respondents was analysed using the descriptive statistics measures utilising the SPSS software. Research findings were presented in frequency tables and categorical graphs for clear presentation of data. Findings from the study revealed that 88% of the government schools in Masvingo district are using traditional budgeting systems and particularly incremental and judgemental budgeting in managing statutory funds. Research findings revealed that government school merely adhere to principles aligned statutory rules established by the government however; most schools are non-adherent to other best practise budgeting principle vital in fostering financial management leading to divergence between planned and actual outturns of their financial activities translating to inefficiencies in services delivery. Research findings also revealed that sophisticated budgeting principles like accrual budgeting is not necessarily effective in fostering financial management while audit oversight and transparency principles are very effective in enhancing schools financial management. Findings indicated that the rest of the budgeting principles have influence in fostering financial management.
Appears in Collections:Bachelor Of Commerce Business Management Honours Degree

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