THE RELATIONSHIP BETWEEN PRINCIPALS’ FINANCIAL MANAGEMENT STRATEGIES AND THEIR IMPACT ON TEACHERS’ JOB PERFORMANCE IN SECONDARY SCHOOLS IN THE MUNICIPALITY OF CALABAR
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CHAPTER ONE
INTRODUCTION
1.1 Background Of Study
Numerous government social services, such as education, have been badly impacted by the Nigerian government’s present economic difficulties. Low funding for public schools has been brought to the public’s notice by school administrators. The government and the general public have historically responded to Nigeria’s financial problems in a variety of ways, offering aid or increasing financial support for schools. It created the Education Task Fund (ETF) to help satisfy the financial needs of students and teachers. According to Ezeocah (1985), for an enterprise to be successful, it must be financially viable. Any enterprise that wishes to prosper requires capital. The judicious administration of a company’s financial resources is essential to its achievement of its goals. As with any other sort of business, educational financing demands meticulous administration.
Financial management is the process of acquiring and handling funds. It discusses how to plan, program, budget, obtain, and maintain material and financial resources to meet the institution’s objective. No organization can exist or carry out its functions successfully and efficiently if its financial resources are not utilized adequately. According to Pandy (1979), financial management is an essential and fundamental component of total management. The primary objective of financial policy in this broad sense is the “prudent use of currency.” Appropriate financial management procedures result in job satisfaction, which, according to Ndu, Ocho, and Okeke (1997), has to do with an individual’s emotional stability in his job, resulting in a high level of morale and, consequently, a willingness to contribute more to the organization’s goals. This indicates that teachers are more likely to work hard the more they are paid for their performance. The greater the extent to which an employee’s needs are addressed at work, the greater the likelihood that he would respond with gratitude, loyalty, and productiveness.
Because education is considered as a fundamental channel for social, economic, technological, and moral dynamism, every nation aspires to provide its citizens with the best education possible within the restrictions of its financial means. As a result, the federal government of Nigeria has selected education as the most effective instrument for attaining national development. The government can no longer fund infant education on its own due to rising costs. Now, the government encourages local communities, people, and businesses to contribute to education funding. To keep their children in school, parents make numerous sacrifices. With the help of the government and these organizations, a substantial amount of money is raised for school purposes. Frequently, the quantity provided is inadequate. Inadequate financial management practices continue to be one of the most significant concerns facing educational institutions today, notwithstanding these efforts. It is extremely difficult for teachers to achieve educational goals and provide the services that schools are currently supposed to offer. Insufficient money may be the cause of the issue. If funding were enough, it seems obvious that sufficient teaching resources would be provided to encourage instructors to take positive action. Likewise, if funds are misused, teachers will be unable to fulfill their obligations to the schools. In this time of self-sufficiency, principals must utilize all available resources, notably grants, to inspire teachers in order to accomplish the required outcomes. To ensure that teachers function at their highest level, principals must address their instructional and material needs.
In this study, work or job performance is referred to as job performance. It also refers to the tasks and responsibilities that teachers must fulfill. Whawo lists admission of students, categorisation, registration, student welfare services, instruction and evaluation of class work, reports to parents and guardians, extracurricular activities, and disciplinary issues (1995). According to Ogunna (1992), timely and proper payment of salary and fringe benefits can satisfy the material needs of employees. Workers should be well compensated for their efforts to ensure their loyalty and commitment to the job. Due to Nigeria’s bad economy (continuous inflation and depreciation of the naira), the government’s education budget is insufficient. Schools are required to maintain existing services, pay staff salaries and allowances, acquire instructional materials, and cover other ongoing costs in order to incentivise instructors to carry out their responsibilities successfully and efficiently. According to Whawo (1995), instructors must be payed adequately for them to be motivated. Regardless of their location, gender, or teaching experience, teachers should be offered appropriate benefits to preserve their zeal and excitement. Consequently, the goal of this study is to examine the relationship between the financial (subvention) management techniques of secondary school administrators and the job performance of teachers.
1.2 Statement Of Problem
As school administrators, principals are required to provide teachers with the essential instructional tools to motivate them to do their tasks adequately. In order to fulfill the school’s goals and objectives, teachers are necessary to be dedicated to their work. The major job of educational administrators, according to Whawo (1995), is to utilize all available resources to achieve the purpose for which schools were established. Unfortunately, principals mismanage subsidy funds given to schools to boost their financial resources. As a result, teachers exhibit job discontent, a diminished sense of accomplishment, physical deterioration, depression, and a range of vices (Amoo and Adenle, 2003). Since principals are unable to provide educational resources, teachers exhibit laziness and absenteeism on the job. In addition to being indifferent with student discipline and disinterested in extracurricular activities, many of them teach in classrooms at their leisure.
The impacts of administrators’ strong finance management strategies on teachers’ task performance are currently under investigation. Exists a connection between competent financial management methods and teachers’ capacity to educate? What is the connection between financial management, the discipline of students by teachers, and their participation in extracurricular activities? These concerns provide a dilemma for our study.
1.3 Objective Of Study
The study’s aims are as follows:
To determine the association between the financial management practices of principals and teacher performance.
To investigate the connection between principals’ financial management practices and instructors’ student discipline.
Examine the association between the financial management tactics of principals and the participation of teachers in extracurricular activities.
1.4 Research Hypotheses
The research will examine the veracity of the following hypothetical statement:
There is no correlation between the financial management practices of principals and teacher performance.
There is no correlation between the financial management tactics of principals and the disciplinary practices of instructors.
There is no correlation between the financial management tactics of principals and the participation of teachers in extracurricular activities.
1.5 Significance Of Study
Therefore, this study will be significant in that it will determine the relationship between effective financial management and the job performance of secondary school teachers. Teachers will benefit from the study since it will indicate the resources that will be made available to motivate them to perform at their best. The study will shed light on elements that may offer challenges in financial management and as factors that inhibit teachers’ work performance. In addition, both the government and the public would recognize the necessity for increased financial assistance to schools, as well as the importance of monitoring their usage to prevent misuse by principals.
This study will contribute to the current literature on this topic and serve as a resource for scholars, researchers, and students who may do additional research on this topic or a comparable one in the future.
1.6 Scope Of Study
The purpose of this study is to evaluate the connection between principals’ financial management practices and their influence on teachers’ work performance. The focus of financial management is on government grants to education. The task performance of teachers was examined in terms of teaching performance, student discipline, and extracurricular activity. Consequently, this study is restricted to Government Secondary schools, State Housing Estate, and Calabar Municipality.
1.7 Limitation of study
Finances, insufficient supplies, and time constraints were obstacles experienced by the researchers over the course of the investigation.
1.8 Definition of terms
Financial management refers to the strategic planning, organizing, directing, and controlling of an institution’s or organization’s financial endeavors.
Performance on the Job: Performance on the job measures how successfully a person does a job. The academic study of job performance as part of industrial and organizational psychology is also a component of human resource management.
THE RELATIONSHIP BETWEEN PRINCIPALS’ FINANCIAL MANAGEMENT STRATEGIES AND THEIR IMPACT ON TEACHERS’ JOB PERFORMANCE IN SECONDARY SCHOOLS IN THE MUNICIPALITY OF CALABAR
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