Factors influencing board of management members’ effectiveness in financial management in public secondary schools in Koibatek district, Kenya
The study aimed at investigating factors influencing Board of Management members‟ effectiveness in financial management in public secondary schools in Koibatek District. The study was guided by the following objectives; to establish the influence of Board of Management members‟ level of education, administrative experience, quality of training in seminars and gender on the effectiveness in financial management. This study was based on Contingency theory by Fielder (1967) in Okumbe (1998). The study used descriptive survey design. The target population of this study comprised 30 secondary schools, 450 BOM members, 151 male teachers, 116 female teachers and the DEO in Koibatek District, Kenya. The teachers and BOM members and DEO were involved because they understood the factors that influence financial performance in public secondary schools. The sample size included 45 BOM members, 80 teachers and the District Education Officer which resulted to 126 respondents. The study used stratified sampled for BOM members to involve 8 male and 7 female members from each school. Purposeful sampling was used to select different BOM members; chairman, secretary, treasurer and BOM members in the sampled school to participate in the interview. Questionnaires and interview schedules were used for data collection. Reliability analysis was done through test-retest method. Reliability coefficient of 0.6 was calculated using the Pearson Product Moment Correlation Coefficient that deemed the questionnaire reliable. Validity was ensured through discussion with the experts including supervisors and colleagues. Primary data was collected and analyzed using quantitative and qualitative techniques and presented in tables and graphs. Secondary data was obtained from journals. Data collected was analyzed using SPSS (Statistical Package for Social Sciences). Descriptive statistics that included frequency tables and thematic analysis were used. The findings showed that graduate BOM members were more effective in financial management than non-graduate board members. The BoM members‟ with a higher administrative experience handled their duties in financial management effective than those with less administrative experience. BoM members‟ with a better quality of training in seminars were more effective in financial management than the ones who attended poor quality of training in seminars. The findings indicated that the male board members were more effective in financial management than the female. The male were effective in accountability and offering proper leadership in terms of financial management. The BoM members should therefore be given enough relevant experience to better their managerial skills in financial management. The courses offered in the seminars leads to BoM members acquiring financial management skills. The BoM members‟ should be sensitized on the importance of higher level of education on financial management. Every school should be mandated to have BoM members appointed after gaining the required professional qualification in financial management in secondary schools. The BoM members‟ should be motivated to attend of seminars/workshops. There should be further research on the effect of financial management on academic performance.