RELATIONSHIP BETWEEN PRINCIPALS’ FINANCIAL MANAGEMENT STRATEGIES AND TEACHERS’ TASK PERFORMANCE IN SECONDARY SCHOOLS IN ONITSHA EDUCATION ZONE.

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  • Name: RELATIONSHIP BETWEEN PRINCIPALS’ FINANCIAL MANAGEMENT STRATEGIES AND TEACHERS’ TASK PERFORMANCE IN SECONDARY SCHOOLS IN ONITSHA EDUCATION ZONE.
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ABSTRACT

This study investigated the relationship between principals’ financial
management strategies and teachers’ task performance in secondary
schools in Onitsha Education Zone. Guided by three research questions
and three null hypotheses. Two questionnares-How principals provide
fund questionnaire (HPPFQ) and the principals’ rate on level of teachers’
task performance questionnaire (PRLTPQ) were used to collect the data.
Proportionate stratified random sampling technique was employed to
select to a sample of 495 respondents. Pearson product moment
correlation was used to answer the research questions, while t-test was
used to test the hypotheses at the 0.05 level of significance. The major
finding revealed that the relationship between principals’ financial
management strategies and teachers’ teaching performance, discipline of
students and involvement in co-curricular activities in secondary schools
in Onitsha Education Zone could be described high and positive. The
conclusion was that there was a significant relationship between
principals’ financial management strategies and teachers’ task
performance in Onitsha Education Zone. Recommendations included the
organization of regular seminars and workshops for both principals and
teachers in order to improve financial management strategies of
principals’ and boast teachers’ task performance.

TABLE OF CONTENTS

Title Page i
Approval Page ii
Certificate iii
Dedication iv
Acknowledgement v
Table of Content vi
List of tables vii
Abstract viii

CHAPTER ONE: INTRODUCTION
Background of the Study 1
Statement of Problem 6
Purpose of Study 7
Significance of the Study 8
Scope of the Study 10
Research Question 10
Hypotheses 11

CHAPTER ONE: REVIEW OF RELATED LITERATURE
The Concept of Financial Management 13
Sources of Financial Management 19
Problems of financial Management 28
The Concept of Task Performance 32
The Relationship Between Principals’ Financial
Management and Teachers’ Task Performance 42
Theoretical Framework 46
Empirical Framework on Financial Management 51
Summary 54

CHAPTER THREE: METHODOLOGY
Research Design 56
Area of Study 57
Population 57
Sample and Sampling Tecchnique 57
Instrument for Data Collection 59
Validation of Instrument 60
Reliability of Instrument 61
Method of Data Collection 61
Method of Data Analysis

CHAPTER FOUR: DATA ANALYSIS AND PRESENTATION
Analysis and Presentation of result for
Research Question 67
Analysis and Presentation of Result for Hypothesis 70
Summary of Major Findings

CHAPTER FIVE: DISCUSSION OF RESULTS, IMPLICATIONS
AND RECOMMENDATION AND CONCUSSION
Discussion of results 75
Conclusion 78
Recommendations 79
Limitations of the study 80
Suggestions for further studies 81
REFERENCES 84
APPENDIXES 90

CHAPTER ONE

INTRODUCTION
BACKGROUND OF THE STUDY
The present economic crisis which has affected the Nigerian
nation has been biting so hard that the various social services such
as education which the government used to provide has been
adversely affected. Public attention has been drawn by the school
administrators to the inadequate funding in public schools in this
country. Both government and the general public have always
responded in different ways to the financial crisis in Nigeria by
granting aid or giving more financial support to schools. It
introduced education task fund (ETF) to help to provide financial
needs both for the student and teachers.
Ezeocah (1985) states that for any venture to function, it
must be financially viable. Finance is needed for any business
organization to succeed. Prudent management of the financial
resources of an organization is vital to the achievement of
organization goals. Judicious management of educational finance is
necessary just like any business that needs finance.
Financial management is the raising and administering of
funds. It deals with how to plan, programme, budget for, secure
and maintain both material and financial resources in order to
attain the institutions objective. It is an obvious fact that no
institution can survive or carry out its functions effectively and
efficiently without utilizing properly its financial resources.
According to Pandy (1979), financial management is considered a
vital and integral part of the overall management. In this broad
view, the central issue of financial policy is the “wise utilization of
funds”.
Adequate financial management strategies bring about job
satisfaction which according to Ndu, Ocho and Okeke (1997) has
to do with a high level of emotional stability of an individual in his
job such that his morale is also high and consequently he aspires
to do more for the organization goals. This implies that the more
teachers are rewarded, the more likely they are to work hard. The
greater the extent in which an employee’s needs are satisfied in his
job, the greater the extent to which he will response, presumably
with gratitude or loyalty and effective productivity on that job.
Every nation would want to give her citizens the best of
education she can afford within the limits of her resources, since
education is regarded as a prime instrument for social, economic,
technological and moral dynamism. Consequently, the federal
government of Nigeria has adopted education as an instrument per
excellent for effecting national development. Infant education is so
expensive now that the government finds it difficult to finance it
alone. The government now encourages the local communities,
individuals, companies and others to assist in financing education.
Parents deny themselves a lot of things to keep their children in the
school. With the help of government and these groups of people,
substantial amount of money is raised for the school use. The
amount provided is often not enough.
Despite these efforts, one of the most serious problems
facing the educational institutions today remains that of ineffective
funds management strategies. Teachers find it extremely difficult to
achieve educational goals, to provide services for which schools are
set up these days. The problem could be brought about by
inadequacy of funds. It is obvious that if the funds were adequate,
enough instructional materials will be provided that will induce
teachers to positive actions. At the same time, if the funds are
grossly mismanaged, teachers will not fulfill their obligations to the
schools. Principals therefore are required to use what resources,
particularly subvention they have to motivate teachers so as to get
what is wanted in this era of self-reliance. To ensure maximum
task performance of teachers, principals’ must motivate teachers by
providing them with instructional and their material needs
Task performance in this study implies work or job
performance. It is also the responsibilities or obligations teacher
have to fulfill. Whawo (1995) enumerates task performance of
teachers to include admission of students, classification,
registration, student’s welfare services, teaching, and evaluation of
class work, reports to parents and guardians, co-curricular
activities and issues of students discipline. Ogunna (1992) writes
that the material needs of the workers can be satisfied through
adequate and regular payment of salaries and fringe benefits.
Workers should be adequately remunerated for their efforts in
order to secure their commitment and dedication to their task.
Nigeria’s economy is so bad (continuous inflation and
devaluation of naira) that government’s allocation to education is
not equivalent to school requirements. Schools are expected to
maintain existing services, pay staff salaries and allowances,
purchase instructional materials and meet other recurrent
expenditure in order to motivate teachers to carry out their task
effectively and effectively. Whawo (1995) opines that teachers must
be motivated with adequate compensation. The zeal and
enthusiasm in teachers should be sustained by providing them
with enough benefits not minding their locations, gender and
teaching experience.
This study thereby aims at identifying the relationship that
between secondary school principals’ financial (subvention)
management strategies and teachers’ task performance.
Statement of Problem
Principals’ as administrators of schools are expected to
provide the required instructional materials that would influence
the teachers to perform their task to a reasonable standard.
Teachers on the other hand are expected to be committed to their
task performance to achieve the goals and objectives of the schools.
Whawo (1995) stresses that the major task of educational
administrators is to utilize all available resources in an effort to
achieve the objective for which schools are established.
Unfortunately, principals mismanage the grants given to schools in
the name of subvention to boost their financial resources. As a
result teachers manifest signs of low job satisfaction, lack of sense
of accomplishment, physical breakdown, unhappiness as well as
various vices (Amoo and Adenle, 2003). Since instructional
materials cannot be provided by principals, teachers exhibit laxity
and truancy in their jobs. Many of them go to classes to teach at
their own will, no longer care for the discipline of students, show
less concern in extra curricular activities, etc.
The consequences of effective financial management
strategies by principals on teachers’ task performance remain
under researched. Is effective financial management strategies
related to teachers’ teaching performance? How does financial
management relate to discipline of students by teachers and
teachers involvement in extra curricular activities? These problems
present the problem of this study

Purpose of Study
The purpose of this study is to find out the relationship
between principals’ financial management strategies and teachers’
task performance in secondary schools in Onitsha Education Zone.
Specifically the study investigates:
1. The relationship between principles’ financial management
strategies and teachers’ teaching performance.
2. The relationship between principals’ financial management
strategies and teachers’ discipline of students.
3. The relationship between principals’ financial management
strategies and teachers’ involvement in co-curricular
activities.
Significance of the Study
Maslow (1954) has implicated the role of motivation on the
attainment of educational goals when Maslow postulated a theory
of hierarch of human needs states that, it is only when a man gets
all his needs that he can be satisfied. This theory can be applied in
this study, teachers need to be motivated to perform optimally. This
study will therefore be significant in the sense that it will find out
the relationship between effective financial management and
teachers task performance in secondary schools in Onitsha
Education Zone. The study will be beneficial to teachers because it
will reveal to them those things that will be provided for them to be
motivated and bring out their best.
Principals on their own will benefit from the study in that it
will throw light on factors that may pose problems in financial
management and as a factors that impedes teachers task
performance.
Also, both government and public would see the need through
the findings of the study for more financial grants to schools,
monitor the usage to minimize mismanagement by principals. The
study will help the government to know that delay in payment of
teachers salaries contributes to their inefficiency.
In addition, this study will help students to contribute money
among themselves to provide some instructional materials to the
schools and draw the attention of their rich relations to help
provide some of the materials needed in the schools. This will
motivate their teachers to perform better. Finally, the findings will
be of good help or contribution to research findings the relationship
between financial management strategies and teachers’ task
performance, on the other hand it will be of immense benefit to the
researchers in the field.

Scope of the Study
This study covered all state government secondary schools in
Onitsha Education Zone. The content was limited to the
relationship between principals’ financial management strategies
and teachers’ task performance. Financial management
concentrates on government grants to education. Teachers’ task
performance was investigated in terms of teaching performance,
discipline of students and involvement in co-curricular activities.

Research Questions
The following research questions were formulated to guide the
study:
1. Is there a relationship between principals’ financial
management strategies and teachers’ teaching performance?
2. What is the nature of the relationship between principals’
financial management strategies and teachers’ discipline of
students?
3. To what extent does a relationship exist between principals’
financial management strategies and teachers’ involvement in
co-curricular activities?
Hypotheses
The hypotheses were tested at 0.05 level of significance
1. The relationship between the mean ratings of principals and
teachers on the principals’ financial management strategies
and teachers’ teaching performance is not significant.
2. school location is not a significant factor in the relationship
between the respondents’ mean ratings of the principals
financial management strategies and teachers’ discipline of
students.
3. There is no significant relationship between the mean ratings
of male and female respondents on principals’ financial
management strategies and teachers’ involvement in co
curricular activities.