FEDERAL GOVERNMENT FINANCIAL ALLOCATION PLANNING AND ITS CONTROL IN AN EDUCATIONAL INSTITUTION (A CASE STUDY OF AKWA IBOM POLYTECHNIC)

FEDERAL GOVERNMENT FINANCIAL ALLOCATION PLANNING AND ITS CONTROL IN AN EDUCATIONAL INSTITUTION (A CASE STUDY OF AKWA IBOM POLYTECHNIC)

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ABSTRACT

This study examines the Federal Government financial allocation, planning and its control in an educational institution. It is aimed at proffering solutions to the challenges of allocation of funds in educational institutions. The questionnaire was used to record respondents’ responses. This is because it is effective in data collection. It was discovered that insufficient student welfare makes it difficult for some students to achieve their aims and objectives. It is also recommended that budget allocation for staff training and development should be enhanced as a tool for motivation.

CHAPTER ONE: INTRODUCTION

1.1       BACKGROUND TO THE STUDY

Higher educational institutions especially in Nigeria are known for insufficient allocation of resources from government/stakeholder that set them up and other resources centres. In most instances, management of these institution fall challenges of having to apply in adequate resources to meeting the multi-dimensional objectives in producing good output. This has always been a serious process.

This therefore necessitate the need to draw policies that will help in the management of this facilities. Consequently there is a need to also evaluate these policies and its management in order to known its efficiency.

1.2       STATEMENT OF THE PROBLEM

The roles and high educational institutions in achieving national objectives can best be expressed as a series of tasks wich must be fulfilled.

They cannot be accomplished over night. These tasks are described as:

Passing on the heritage of the past.

-              When a child is born he begins a new personal existence, but he also joins an old established society. One of the roles institutions plays is to pass on to him the knowledge is very great. The present generation is deeply indebted to past generation for all past discoveries, inventions and accumulated experiences that have been handed down to them. Civilization would cease to exist if every the heritage of the past were with held from present.

In the past this heritage was past on through the family or by contact between individuals.

Today, the increased volume of knowledge and greater number of people acquiring it, requires extra schools in form of private institutions organized by individual and bodies.

Preparing for the future

-              To prepare pupils for living in the modern society, higher institutions must prepare individuals spirit, mind and body. Decent behaviour must be instilled, useful skills and healthy activities of the mind encouraged. These three things are necessary not just preparing the children for earning a living, but for coping with the problems of the society which they will soon find themselves as adult members and also putting purpose into living.

-              Education gives a satisfying purpose for all we lean and it keeps us from living a life that is purposeless and help us to show the people we teach that our labours in teaching them and their efforts at learning after for a better purpose than just making them skilled, but will help them to become man and woman of real understanding.

-              Higher institutions need to convince their pupils and student that life has purpose and education is worth while.

Training the Labour Force

-              Higher institution help the nation in developing low, middle and high level man power necessary for economic development. These higher institutions train a significant number of the country’s labour force such as technicians, accountants, confidential secretaries, typists etc.

-              The top management cannot function properly without the support of these categories of the labour force. They are like the foundation on which a building rests. The wheel of economic progress will not move without the support of these categories of labour force trained by higher institutions.

Without adequate funds, these tasks or objectives cannot be accomplished. The institution runs various courses both at certificate, national and higher national diploma levels.

Good financial allocation and control are needed to ensure the success of the courses offered.

Financial allocation is needed for planning the scarce resource of the institution, while control ensures that the action of the institution management move to towards the stated objectives. Akwa Ibom Polytechnic has important roles to play in developing the management needed in the country, but this role can be severely limited if the institution is not adequately funded.

-              The problem we wish to investigate is adequate finance being provided to higher educational institutions such as Akwa Ibom Polytechnic in achieving these tasks.

1.3       OBJECTIVES OF THE STUDY

The objectives of the study are:

1.   To examine the federal government financial allocation and planning and its control in an educational institutional account.

2.   To identify out the activities of federal government financial allocation and planning and its control in an educational institutions account.

3.   To identify the problem of activities of federal government financial allocation and planning and its control in an educational institutions accounts.

4.   To identify the possible solution in the problem of activities of federal government financial allocation and planning and its control in an educational institutional accounts.

1.4       RESEARCH QUESTIONS

1.   What are the federal government financial allocation and planning and its control in an educational allocation?

2.   What are the activities of federal government financial allocation and planning and its control in an educational institution?

3.   What are the problem of federal government, financial allocation and planning and its control in an educational institution accounts?

4.   What are the possible solutions to he identified problem in federal government financial planning allocation and its control in an educational institution accounts?

1.5       SIGNIFICANCE OF THE STUDY 


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