The dynamics of financial management in Swaziland : a case of selected primary schools.

Abstract

This study analyses the findings of a survey of five primary schools in Swaziland; Hhohho region. The study explores the dynamics of financial management in Swaziland Primary schools through the interpretative paradigm employing the case study approach. It sets out as its framework, the formal model of educational management to explore the understanding of financial management and financial management roles school principals have, skills and competencies needed by principals in execution of their duties and challenges they encounter. A possible capacitation strategy for the school principal is also examined in this study. Five principals were interviewed to generate data. In addition to the interviews selected financial management documents, the minute books, analysis books, procurement files, cheque books and financial statements were analysed. It emerged that in order for a school principal to effectively execute his or her duties there are certain skills that he or she must possess. However, there are a myriad of challenges that the principal encounters in the execution of his duties including lack of capacity, lack of funds and lack of co-operation from school committee members. The findings revealed that principals had a good understanding of their financial management roles but they were not empowered to do so hence they were struggling in the execution of their duties. Findings also revealed a number of skills that principals needed to effectively execute their duties such as budgeting, accounting, reporting and record keeping. It is recommended that financial management should be covered in training of teachers as a course in colleges and universities and later coupled with workshops as in-service programmes. A possible capacitation strategy for the school principal is suggested at the end of the study.