Tinfluence of Financial Management on the Performance of Constituency Development Funds Financed School Projects in Bureti Sub-county, Kenya.

Abstract

This research aimed at investigating the relationship between Financial Management and Project Performance. Itis based on schools funded by the Constituency Development Fund to represent all other projects. The study was carried out in Bureti Sub-County. This research followed the following objectives: to determine how the performance of the project relate to the management of finance, to examine the particular relationship existing between the fund accountability utilized and project performance in Bureti Sub-County. The literature of the past studies by other researchers portrayed unswerving affiliation existing between the management of finance and the performance of the project. Design of the research was descriptive one that was basically recommended by Khan, (1993). The target population was 50 Board of Management representatives from 50 schools recently funded by Constituency Development Fund, 50 contractors of the said schools and 30 Constituency Development Fund committee members. The approximate of fifty respondents were chosen using the method of sampling that is stratified. The sampled population was divided into Boards of Management, contractors and Constituency Development Fund committee members. 20 Boards of Management, 20 contractors and 10 Constituency Development Fund committee members were chosen for the study. As Mugenda and Mugenda (2003) recommend, a sampling size of approximately thirty percent of the total population, this is a representative sample. The data was collected from the sample by the questionnaire. The researcher framed the questions within the questionnaire in such a way as to capture the required information which clearly reflected the relationship between financial management and project performance. The findings were compiled and computations done where applicable. Frequency tables were drawn after analyzing the data using SPSS software version 21.0. The research found out that working capital management, accountability for funds used and financial planning had significant influence on project performance. It is recommended that the project management should ensure that there is proper financial management for their projects to perform better.