Browsing by Author "GYAMERA, ABANKWA BRIGHT"

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    Financial management policies and practices in Ghana Education Service. A study of Nkawkaw Senior High School, Eastern Region.
    (KNUST, 2016-08) GYAMERA, ABANKWA BRIGHT
    Currently, there have been frequent reports on financial irregularities persisted in a lot of Senior High Schools in Ghana simply because of negligence in controls and disregard of financial rules, regulations and practices. Financial Management control practices are aimed at achieving desired return on investment. Heads of institutions use financial statements such as budget and other financial tools to exert financial controls in the form of applying policies and procedures established by institutions for managing, documenting and reporting of financial transactions. The study was undertaken to ascertain the financial policies and practices in Ghana Education Service, a study of Nkawkaw Senior High School in Eastern Region. It explored the main sources and usage of funds in the Senior High Schools, the financial control system utilization, and identified the financial management challenges in public schools. Five sets of questionnaires were designed. The first set of the questionnaire went to the Headmaster and Assistant Headmasters. The second set was apportioned to the Accounts Officers, another set also went to the Board of Governors, the fourth set of the questionnaire went to the PTA executives and lastly the final set also went to the student executives. To the other side of these, a deeply interactions with the respondents and the researcher was enhanced. The survey brought to light two main sources of funds for the school, the government of Ghana budget line account and internally generated funds (IGF). The School has instituted effective control practices such that financial transactions were supported by the appropriate supporting documents. It is recommended that, there should be periodic in-service training for the account personnel to improve knowledge, skills and abilities, a budget committee be instituted in the school.