Financial Management Challenges Facing Heads of Senior High Schools in the Central Region, Ghana

Abstract

The study investigated financial management challenges facing heads of senior high schools in the Central Region, Ghana. Specifically, it examined financial management challenges, facing heads, sources of the challenges, the effect of the challenges, and the available support system. The research paradigm is pragmatism while the approach is mixed methods. The study employed the concurrent triangulation design. The target population was heads of senior high schools, Zonal Internal Audit, and Directors of Education, made up of 75 heads of SHSs, 7 heads of Zonal Internal Auditors, and 21 MMD Directors of Education, which constituted a population of 104. The sample size was 70 participants, made up of 63 heads of SHSs, 4 Directors, and 3 Auditors. Simple random and purposive techniques were used for the selection of the participants. The research relied on primary data, which was gathered using a structured questionnaire for heads and a semi-structured interview guide for the Directors and Internal Auditors. Both the quantitative and qualitative data were collected concurrently and analyzed. Quantitative data were analyzed using SPSS, and the qualitative data were analyzed using iNVIVO. Key findings of the study were that procurement, accounting, audit infractions, budgetary inefficiencies, professional incompetence, and financial policy were major financial management challenges for the heads. Sources of the financial challenges were inadequate financial management knowledge and skill, inadequate education and training on financial management, long stay in schools, and doubling roles of heads as administrators and financial managers are major professional competencies challenges. The findings also indicate that the challenges have effects such as misappropriation of funds, insufficient teaching and learning materials, poor teacher performance, reduced student achievement, public audit scrutiny, and emotional stress on heads. The state should therefore release timely and adequate fund as well as necessary support for the heads to manage school funds efficiently. It is also that the Regional Directorate of Education should provide regular capacity building for heads and the Board of Governors on school financial management.