Budget Planning Practice of Principals for Effective Financial Management of Secondary Schools in Anambra State

Abstract

The study examined the perceived budget planning of principals for effective financial management of secondary schools in Anambra State. The study was guided by one research question, and two hypotheses were tested. The research design used was a descriptive research design. The population of the study comprised 257 principals in all government-owned public secondary schools in Anambra State. Data collection was done using a 12-item researcher-developed instrument titled “Budgeting planning by Principals of Secondary School Questionnaire (BPPSSQ). The validation of the instrument was done by three experts from Nnamdi Azikiwe University, Awka.  The reliability of the study was assessed using Cronbach alpha, which yielded a coefficient of 0.75. The data was collected with the help of six research assistants from six educational zones in Anambra State using a direct approach. 94% of instruments were returned. The data analysis was done using mean and standard deviation to answer the research questions, and a t-test was used to test the hypotheses at a 0.05 level of significance. The findings of the study revealed, among others, that budget planning is fundamental to achieving the objectives of the school, as it allows the principals to set clear priorities, allocate resources effectively, and make informed decisions regarding expenditure. It was recommended among others, that government should organize on-going professional development programs tailored to further equip principals with advanced financial management skills, to ensure that they remain up to date with best practices, regulatory changes, and innovative strategies for managing school finances government should formalize and expand the standardized financial management framework that guides school budgeting in Anambra State