Influence of Principals’ Innovation on Financial Management in Secondary Schools in Meru County, Kenya

Abstract

Principals’ receptivity to innovative ways of running the operations of their institutions should be based on methods that minimize costs, save time and allow excellence. However, there is inadequate financial resources that disallow adequate use of digital resources in secondary schools. The purpose of this study was to investigate the influence of principals’ receptivity to innovation on financial management in secondary schools in Meru County, Kenya. The study used descriptive research design, and targeted a population of 389 secondary schools. The study used simple random sampling method to get a sample of 117 secondary schools. It further used purposive sampling method to obtain 117 principals. The study used drop and pick method to administer questionnaires to the respondents. Piloting of research instruments was done in twelve secondary schools in Tharaka Nithi County. The study analysed quantitative data using descriptive statistics such as frequencies, percentages and mean. It also carried out correlation analysis to test hypothesis. The results revealed that 80(92%) were in agreement on a mean of 4.93 that donors and sponsors were more convinced in investing their financial resources in the schools. However, 66(76%) were not in agreement on a mean of 2.82 that the school had made plans to ensure that all departments adopted various technological and social innovation. The Pearson correlation coefficient was r=0.286** at α < 0.000 and 99% significance level, hence as a positive influence; thereby rejected the null hypothesis. The study concluded that digitalization was only used by the management, while departments required to prepare departmental budgets manually. This slowed the process of decision making for the principals. The study recommended that the ministry of education considers increasing annual funding for secondary schools. Principals should also explain to the management boards the need to digitalize the whole school as opposed to a few departments.