ASSESSMENT OF THE RELATIONSHIP BETWEEN PRINCIPALS FINANCIAL MANAGEMENT STRATEGIES AND ITS IMPACT ON TEACHERS JOB PERFORMANCE IN SECONDARY SCHOOLS IN CALABAR MUNICIPALITY
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ASSESSMENT OF THE RELATIONSHIP BETWEEN PRINCIPALS FINANCIAL MANAGEMENT STRATEGIES AND ITS IMPACT ON TEACHERS JOB PERFORMANCE IN SECONDARY SCHOOLS IN CALABAR MUNICIPALITY
Chapter one
INTRODUCTION
1.1 Background Of The Study
The current economic crisis in Nigeria has had a devastating influence on the government’s various social services, including education. School officials have drawn public attention to the country’s underfunded public schools.
The government and the general public have always responded to Nigeria’s financial crises in different ways, providing assistance or increasing financial support to schools.
It established the education task fund (ETF) to help satisfy the financial demands of both students and educators. According to Ezeocah (1985), any venture must be financially viable in order to prosper.
Any business organisation that wishes to succeed need funding. The judicious administration of an organization’s financial resources is crucial to achieving its goals. As with any other sort of business, educational finance necessitates careful management.
“Financial management” refers to the practice of raising and managing funds. It explains how to plan, programme, budget, secure, and maintain both material and financial resources in order to meet the institution’s objectives. It is self-evident that no organisation can exist or function successfully and efficiently unless its financial resources are properly utilised.
Financial management, according to Pandy (1979), is an important and integrated part of total management. In this broad view, financial policy’s primary focus is the “wise utilisation of cash.”
Appropriate financial management procedures lead to job satisfaction, which, according to Ndu, Ocho, and Okeke (1997), is related to an individual’s emotional stability in his job, resulting in a high level of morale and, as a result, a willingness to do more to advance the organization’s goals.
This indicates that the more teachers are rewarded for their performance, the more motivated they are to work hard. The greater an employee’s requirements are met at work, the more likely he is to respond, presumably with gratitude or loyalty, as well as with good output.
Because education is regarded as the primary channel for social, economic, technological, and moral dynamism, every country strives to give the best education possible to its citizens within the restrictions of its resources. As a result, Nigeria’s federal government has identified education as the most effective means of attaining national development.
The cost of infant education has escalated to the point where the government cannot afford it on its own. The government is currently urging local communities, people, businesses, and others to contribute to education funding. Parents make significant sacrifices to keep their children in school.
The government and these NGOs work together to raise a considerable amount of money for school purposes. Frequently, the amount offered is insufficient. Despite these efforts, deficient financial management procedures remain one of the most pressing concerns facing educational institutions today.
Teachers find it extremely difficult to achieve educational objectives and provide the services that schools are now intended to give. Inadequate money could be the root of the issue. It is self-evident that if funding was enough, enough teaching resources would be provided to urge instructors to take positive action.
At the same time, if funds are misused, teachers will fail to fulfil their commitments to the schools. Principals must so use whatever resources they have, particularly subventions
To encourage teachers in order to attain the appropriate level of self-reliance. To ensure that teachers perform at their peak, principals must motivate them by addressing their instructional and material needs.
In this study, job performance is defined as work or job performance. It also refers to the duties and obligations that instructors must fulfil. Whawo (1995) lists admissions, categorization, registration, student welfare services, class instruction and evaluation, reports to parents and guardians, co-curricular activities, and student discipline issues.
According to Ogunna (1992), workers’ material needs can be addressed by paying salaries and fringe benefits on time and in sufficient quantities. Workers should be adequately compensated for their efforts in order to assure their loyalty and dedication to their task.
Nigeria’s economy is so bad (continuous inflation and depreciation of the naira) that the government’s education budget does not meet educational needs.
To incentivise teachers to complete their jobs successfully and efficiently, schools must maintain existing services, pay staff salaries and allowances, acquire instructional materials, and cover other ongoing expenses.
Whawo (1995) believes that instructors must be adequately compensated in order to be motivated. Teachers’ passion and enthusiasm should be maintained by offering enough benefits, regardless of their location, gender, or teaching experience.
As a result, the goal of this study is to identify the relationship between secondary school administrators’ financial (subvention) management strategies and teacher job performance.
1.2 Statement of Problem
Principals, as school administrators, are expected to provide teachers with the educational materials they need to perform their jobs to a reasonable degree. Teachers, on the other hand, must be committed to their jobs in order to meet the school’s goals and objectives.
Whawo (1995) emphasises that educational administrators’ principal role is to make full use of all available resources in order to achieve the purpose for which schools were established. Unfortunately, principals mismanage funds provided to schools under the pretence of a subsidy to enhance their financial resources.
As a result, teachers exhibit discontent with their professions, a loss of sense of accomplishment, physical deterioration, depression, and a variety of vices (Amoo and Adenle, 2003).
Teachers exhibit laxity and absenteeism in their jobs because principals are unable to provide educational tools. Many of them travel to classrooms to teach on their own time, are careless about student discipline, and are uninterested in extracurricular activities, among other things.
The impacts of effective financial management strategies employed by principals on teachers’ task performance are currently being investigated. Is there a relationship between efficient financial management methods and teachers’ capacity to teach?
What is the relationship between financial management, teacher discipline of students, and participation in extracurricular activities? These concerns provide a dilemma for our study.
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