Financial Management and Performance of Private Secondary Schools in Uganda: a Case Study of Bishop Cipriano Kihangire Senior Secondary School Bbiina

Abstract

The major objective of this study was to examine the relationship between financial management and performance of private secondary schools. The specific objectives are; to find out the relationship between budgeting and performance of private secondary schools, to evaluate the effect of risk management on the performance of private secondary schools and to establish the relationship between financial reporting and performance of private secondary schools.

A case study design was used to conduct the study with a sample size of 32 respondents. Various data collection instruments were used in this study and these include; questionnaires and interview guide.

The findings revealed that there is correlation between budgeting and performance of private schools with a positive and significant relationship (r = .377, p <0.05), there is a correlation between risk management and performance of private schools with a positive relationship which is insignificant to the study (r = .454, p <0.01) and there is a correlation between financial reporting and performance of private schools with a positive and significant relationship (r = .462, p <0.01). From the study it can be said that financial management strongly affects the performance of private schools.

The researcher therefore recommends that management should ensure that budgeting activities are always in line with risk management and financial reporting in order to maintain and promote increased performance of private schools.

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