Principals’ Financial Management Strategies on Effective Administration of Public Secondary Schools in Rivers State

Abstract

This study examined the financial management strategies employed by principals in the effective administration of public secondary schools in Rivers State. Two research objectives, two research questions, and two hypotheses guided the study. A descriptive survey research design was adopted. The population consisted of all 247 public secondary schools and their 247 principals in Rivers State, comprising 151 male and 96 female principals. The census sampling technique was used, ensuring that every member of the population participated. A structured instrument, the Principals' Financial Management Strategies on Effective Administration of Public Secondary Schools Questionnaire, was used to elicit data. Experts in education verified the tool, and its reliability was determined through test-retest measurement, yielding a reliability index of 0.78 using the Pearson Product Moment Correlation Coefficient. Data were analyzed using mean and standard deviation, and z-test statistics were employed to test the hypotheses at a 0.05 alpha level of significance. The findings revealed that principals' budgetary practices and adequate record-keeping significantlyinfluence effective administration. The study recommends that principals should prioritize budgeting due to its importance in efficient financial management.