Survey of budgetary practices in public secondary schools in Kisumu East District
Budgeting is key to any organizational success as it is used as a tool for communicating top management's expectations to managers and employees. It helps in planning and coordinating organizational activities. This study surveyed budgetary practices in public , secondary schools in Kisumu East District. Public schools like any other organization need to prepare good and realistic budgets for proper acquisition and use of school funds and other resources. The management needs to involve if possible all the stakeholders in their budget preparation and implementation. There should also be strict budgetary controls to ensure efficient and proper management of these institutions. A census survey methodology was employed in this study where the targeted population was 38 public secondary schools in the district. However, a questionnaire was developed and administered personally to bursars in these schools but only 36 were duly filled and returned for analysis giving a response rate of 95%.The primary data obtained was edited for accuracy and consistency and keyed in Excel and SPSS packages for analysis. The findings were presented in form of frequency tables, bar graphs, pie-charts and percentages. The findings were that most schools preferred bottom-up budgetary approach and that majority of schools prepared only master budget. It also came out clearly in the study that most schools have asset value bellow 100million and a very high percentage suffer deficit every year as high as 97%. The study also revealed that most schools did not involve all the stakeholders in the budget preparation and implementation which results to a number of challenges in the budget preparation and implementation. Also majority of schools were found to take long to clear their debts and not maintaining contingency reserves.