Management of School Finance in a Depressed Economy Society: Imperative for Academic Performance of Students in Selected Secondary Schools

The study examined the management of school finance in a depressed economy in selected schools in Ado Local Government, Ekiti State. The study examined academic performance of students. The study adopted descriptive survey research design. The study population comprised all private schools in Ado local government, Ekiti State. The sample consisted of 12 administrators, 60 parents and 240 students selected for the study through multistage sampling procedure using simple random and purposive sampling technique. Three instruments were used for the study titled “School Finance Management Questionnaire” (SFMQ), “Parents Methods of School Fees Payment Questionnaire” (PMSFPQ) and inventory for collection of data on students’ academic performance. The questionnaires were validated and tested for reliability by employing split-half method which yielded 0.83 and 0.85 for SFMQ, PMSFPQ respectively. The study revealed that students’ academic performance was low. The study revealed that the majority of the school owners generate fund through loan, school fees and other grants. The study also found a significant relationship between depressed economy and academic performance of students. Based on the findings, it was recommended among others that government should see to the needs of private schools in terms of finance, since they pay tax to the government. This would reduce the burden of the parents and improve the performance of the students as well.