Financial management practices of Senior High Schools in the Techiman Municipality

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August, 2015
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The study examined financial management practices of Senior High Schools (SHS) in Techiman municipality in the Brong Ahafo Region of Ghana. A convenient sampling technique was used to select the schools. Questionnaires and interview were used to collect data for the study. Two respondents from each of the three senior high schools were selected for the purposes of obtaining relevant information for the study. Descriptive statistics was used to analyse the responses obtained from the respondents. The findings of the study revealed that the procurement system of the schools is regulated by procurement board which is mandated to ensure that the procurement of goods and services within the schools follow laid down procedure. The study further found that the budgets of the schools represent the main financial planning framework around which incomes and expenditures are managed. The findings however revealed the major challenges confronting the effective financial management of the schools include late disbursement of funds by the central government and lack of financial management skill by headmasters to effectively manage the schools‟ finances. The study recommends among others that, school heads should be equipped with basic financial skills to enhance their capacity to effectively manage the finances of the schools they manage.
A thesis submitted to the Department of Accounting and Finance Kwame Nkrumah University of Science and Technology School of Business in partial fulfillment of the requirements for the degree of Master of Business Administration Finance,