Status And Challenges Of Financial Resource Management In The Government Primary Schools Of Laga Tafo Laga Dadhi Town Administration

The study’s main objective focuses to assess the status and challenges of financial resourcernmanagement, particularly the execution and reporting systems, in Government primary schoolsrnof Laga Tafo Laga Dadhi town administration. The study employed descriptive survey design tornassess the practices and constraints of financial resource execution and reporting system.rnAccordingly, seven government primary schools were selected using comprehensive sampling,rnother government sectors such as education, and finance and economic cooperation werernsampled using purposeful sampling techniques. The participants of the study were three FECrninternal auditors, and five education office expertise’s were taken as part of the studyrnpurposefully; on the other hand seven principals, seven vice principals were participated usingrncomprehensive sampling techniques; and also 35 PTSA members and 20 KETB were sampledrnusing purposive sampling. Overall out of 119 targeted populations 77 were sampled, 74 returnedrnthe questionnaire paper, which is 94.81% response rate. Both primary and secondary datarnsources were utilized to collect data. Furthermore, the quantitative and qualitative data collectedrnfrom primary and secondary sources using data collection instruments like questionnaire,rndocument and interview. From the collected data the following major findings were obtained.rnThe findings related to trends financial execution exposed that, although financial planningrnconducted with time frame, and vouchers are prepared by the schools; there is a limitation inrnaccountants/finance officers’ experience, guideline, proclamation, regulation and directivernenactment as well as procedures and follow-up. The practices of financial execution regardingrnplanning, participation, approval, experience, enactment of regulation, and directives, keepingrnfinancial procedures, capacity building and effective and efficient utilization status were weak.rnBesides, the findings related to the financial resource recording and reporting systems at therngovernment schools of Laga Tafo Laga Dadhi town administration revealed that majority of thernrespondents positively reacted on the presence of financial recording documents andrnpreparation; however the recording, approval of reports and transparency of financial resourcernexecution shows certain limitation from respondents’ data. The study concluded that with certainrnachievements particularly the document preparation, random budget execution; there is hugerngap in the execution and reporting financial resources in line with the goals of an institution andrnGAAP. Thus, the researcher suggests the transparency and accountability; capacity building forrnaccountants and PTSA members, updated regulation and directives; and also continuous followrnup by concerning bodies.

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