CHALLENGES FACING EFFECTIVE MANAGEMENT OF FINANCIAL RECORDS IN PUBLIC SECONDARY SCHOOLS IN ANAMBRA STATE

CHALLENGES FACING EFFECTIVE MANAGEMENT OF FINANCIAL RECORDS IN PUBLIC SECONDARY SCHOOLS IN ANAMBRA STATE 

TABLE OF CONTENTS

Title Page                                                                                  i

Declaration                                                                                ii

Approval Page                                                                           iii

Dedication                                                                                  iv

Abstract                                                                                     vi

Table of Contents                                                                      vii

CHAPTER ONE: INTRODUCTION

1.1    Inroduction                                                 1

1.2  Background of the study       3

1.3    Statement of the General Problem                                  4

1.4    Objective of the study                                                       5

1.5    Significance of the study                                                  5

1.6    Statement of hypothesis                                                   6

1.7    Scope of the study                                                             6

1.8    Limitation of the study                                                     7

1.9    Definition of terms                                                            7

CHAPTER TWO: LITERATURE REVIEW

2.0    Introduction                                                                      9

2.1    Review of related literature                                             9

2.2    Theoretical framework

2.3    Summary of review                                                           33

CHAPTER THREE: RESEARCH METHODOLOGY

3.1    Introduction                                                                      35

3.2    Research design                                                                35

3.3    Area of study                                                                    35

3.4    Population of the study                                                    36

3.5    Sample size                                                                       36

3.6    Instrument for data collection                                          36

3.7    Reliability of the instrument                                            37

3.8    Validity of the Instrument                                               38

3.9    Method of data Collection                                                 38

3.10  Method of Data Analysis                                                  39

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1    Introduction                                                                      41

4.2    Characteristics of the respondents                                   41

4.3    Presentation of Data Analysis                                         43

4.4    Discussion of Findings                                                     48

4.5    Summary of findings                                                        49

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1    Summary                                                                          51

5.2    Conclusion                                                                        52

5.3    Recommendation                                                              53

Biography                                                                         54

Appendix                                                                           56

Abstract:
This abstract highlights the challenges encountered in the effective management of financial records within public secondary schools in Anambra State, Nigeria. Proper financial management is crucial for educational institutions to ensure accountability, transparency, and efficient resource allocation. However, several obstacles hinder the successful management of financial records in these schools, compromising their overall financial integrity.

This study aims to identify and analyze the primary challenges faced by public secondary schools in Anambra State when it comes to managing their financial records effectively. The research employs a qualitative approach, utilizing interviews, document analysis, and observations to gather relevant data.

The findings of the study reveal several key challenges. Firstly, inadequate financial management skills and knowledge among school administrators contribute to poor record-keeping practices. Insufficient training and education in financial management hinder their ability to maintain accurate and reliable financial records.

Secondly, the lack of appropriate financial systems and technology infrastructure poses a significant challenge. Many public secondary schools still rely on manual, paper-based record-keeping, which is time-consuming, error-prone, and susceptible to loss or damage. The absence of modern financial software and technology tools further complicates the management and analysis of financial data.

Thirdly, limited financial resources and budgetary constraints impede the implementation of effective financial management systems. Insufficient funds allocated to schools often lead to inadequate staffing, lack of resources for training, and inadequate investment in financial infrastructure.

Additionally, the absence of standardized financial reporting frameworks and guidelines at the state level contributes to inconsistent financial practices across schools, making it challenging to compare and evaluate financial records accurately.

In conclusion, the effective management of financial records in public secondary schools in Anambra State faces various challenges. These encompass a lack of financial management skills among administrators, inadequate financial systems, limited resources, and the absence of standardized reporting frameworks. Addressing these challenges requires investment in financial training, modernizing record-keeping practices, enhancing financial infrastructure, and establishing clear guidelines for financial management. By overcoming these obstacles, public secondary schools in Anambra State can enhance their financial accountability and transparency, leading to improved educational outcomes.

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