Principals’ Financial Management Skills and Institutional Performance in Public Secondary Schools in South Rift Region, Kenya

Abstract

The study sought to establish the relationship between principals’ financial management skills and institutional performance in public secondary schools in South Rift Region, Kenya. The study adopted descriptive cross-sectional survey and correlational research designs. Multistage sampling was used to select 336 respondents for the study, including principals, senior teachers and County Quality Assurance and Standards Officers (CQASO). Questionnaires and interview guide were used to collect data from sampled respondents. Data were collected from 331 respondents, giving the study a return rate of 98.51%. Qualitative data obtained were analyzed thematically, while quantitative data were cleaned, coded and analyzed descriptively and inferentially with the aid of the Statistical Packages for Social Sciences (SPSS) version 27.0 computer software. Frequency and percentages were used to describe the existing relationship between variables, while hypothesis was tested using regression analysis at 0.05 level of significance. The study established that there is a positive and significant relationship between principals’ financial management skills and institutional performance. It was also established that majority of principals face challenges in financial management due to lack of financial management skills, such as sourcing for funds through prompt fee collection and inability to manage income generating activities. It is therefore recommended that the Ministry of Education (MOE), in collaboration with Teachers Service Commission (TSC) should ensure that school principals get adequate in-service training on financial management prior to their deployment, and refresher courses should be given to practicing principals periodically to enhance their financial management skills and ultimately better their institutional performance.