An Assessment of the influence of Government Financial Regulations on Financial Management Practices in Public Secondary Schools in Sameta Division, Gucha District, Kenya

Abstract

Financial Management Practices in Public Secondary Schools are essential in the control of funds received by these institutions of learning. This is because proper Financial Management Practices have a ~ effect on the school meeting its core objectives. This study was therefore aimed at Assessing the Effect of Government Financial Regulations on Financial Management Practices in Public Secondary Sdoos in Sarneta Division of Gucha District, Kenya. The study surveyed how head teachers who are the school financial managers managed the school cash, inventories, account receivables and account payables. The study also aimed at assessing problems headteachers encountered when applying these financial management practices. There are thirty Public Secondary Schools in Sarneta Division. In each school two people were interviewed, that is, the head teacher and school bursar. Thus a total of sixty (60) respondents were interviewed. Census method was used for this study. Questionnaires with open ended and closed ended questions were used to collect primary data Secondary data were collected from the District Schools Auditor's financial records and from the financial records of the sampled schools. Descriptive statistics, especially, the use of frequency tables, percentages and means was used to analyze the data Scaling method was used especially the use of likert scale to analyze the views gathered from the respondents. The findings of the study will be useful to the government and other stakeholders in education who are interested in knowing the effect of the Government Financial Regulations on the Financial Management Practice in the schools. At the same time, the study will add knowledge to the existing body of knowledge.