Abstract:
The main ambition of most organizations today is to present good
financial results that may have the impetus of propelling the organization into the
realization of its grand objectives. One important part of this is to ensure an
effective way of managing liquid capital or in other words fund management. The
thrust of this document is to help improve the public sector financial management
practices, with a particular reference to the second cycle institutions of Ghana
Education Service. This is basically in consideration of the chunk of the national
resources usually directed into the operations of the sector.
Three different sources were used to extract the data. These included the
use of questionnaire, personal interviews and official documentations.
Questionnaires were sent to thirty second cycle schools and colleges, specifically
to the key spending officers (headmaster/headmistress and the bursar). To make it
possible for the respondents to express their thoughts beyond the asked questions,
semi structured interviews were used. In addition to the questionnaire and the
interviews, accessible official documents were utilized.
One major conclusion from the analysis is that, the service has a great
potential with fund management when adequate value is added to its fund
managers and relevant staff and appropriate organizational environment is
created.
