FINANCIAL MANAGEMENT STRATEGIES AND EFFECTIVE ADMINISTRATION OF PUBLIC SECONDARY SCHOOLS IN BAYELSA STATE. NIGERIA

Abstract

The study examined financial management strategies and effective administration of public secondary schools in Bayelsa State, Nigeria. The study adopted a correlational research design. Two research questions and two null hypothesis guided the study with a population size of 512 principals and vice principals from the 207 public secondary schools in Bayelsa State. Stratified random sampling technique was adopted, and a sample size of 396 principals and vice principals representing 77% was drawn from the population and used for the study. Data was collected using a questionnaire of 10 items, titled "Financial Management Strategies and Effective Administration (FMSEAQ)." The instrument consisted of demographic data of the respondents and Questionnaire items to answer the two research questions raised in the study a four-point Likert-type rating scale of Strongly Agree (SA), Agree (A), Disagree (D), and Strongly Disagree (SD). Face and content validity of the instrument was done by three experts in educational administration and financial management. The reliability of the instrument was determined using the Cronbach alpha method. The Cronbach alpha coefficient obtained was 0.85, indicating a high level of reliability of the questionnaire. Demographic data of the respondents were analyzed through simple percentage, mean and standard deviation statistics were used to answer the research questions, while linear regression was used to test the null hypotheses at 0.05 level of significance. The study revealed that Budgeting planning, expenditure control, revenue generation, resource allocation, transparency and accountability are some among others various financial management strategies that enhance effective administration. It was also revealed that budgeting and expenditure control enhance effective administration of public secondary schools in Bayelsa State. It was concluded that effective financial management strategies are crucial for the effective administration in the 21st century. It was therefore recommended among others that government should involve principals in budget planning