Abstract:
The government of Kenya allocates between 35 to 40 percent of the total budget to education. It is essential that public funds be directed effectively and used for the purposes for which they are allocated for. However, there have been a number of cases reported mainly through the local print and electronic media regarding mismanagement of finances in public secondary schools. Gucha is one such district that experienced 47 cases of financial mismanagement and consistently taken the last position in KCSE performance in Nyanza province with its mean score averaging 3.970 for the last ten years. This study was therefore set to establish the perceptions of stakeholders on the effect of financial mismanagement on quality education: physical facilities and, teaching/learning materials in public secondary schools in Gucha district. A conceptual framework was used to help focus on financial mismanagement and Quality secondary education. The study employed a descriptive survey design. The study population consisted of 126 headteachers, 126 heads of departments, 126 Board of governors
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chairpersons, 126 bursars, 1011 teachers, and 10 quality assurance officers. Stratified random sampling technique was used to select 5 boarding schools, 37 day schools, 42 headteachers, 42 Bursars, 42 heads of departments, 42 BOG chairpersons, 337 teachers while purposive sampling was used to select 10 quality assurance and standards officers. Data was collected by the use of questionnaire, interviews schedule, Focus group discussions and observation forms. Quantitative data collected through questionnaire were analyzed using descriptive statistics in the form of means, frequency counts and percentages. Qualitative data collected through interviews and Focused group discussions were transcribed, organized into themes and sub-themes as they emerged in an on-going process. The study established that financial mismanagement had adversely affected instructional and physical facilities. From the study it was concluded that mismanagement had affected the quality of education negatively. Based on the findings of the study it therefore emerged the need for financial training for all stakeholders involved in financial management directly and indirectly. School board of governors should set up financial advisory committee in schools to assist in financial management. The government should post trained bursars to schools to help headteachers in accounting of finances.
Key words: Financial Mismanagement, Financial Misappropriation, Quality Education, financial Training.
