Budgetary Control System and Effective Public Financial Management: Moderating Effect of Managerial Experience of Tertiary Institutions in Bayelsa State

This paper assesses the moderating effect of managerial experience on the relationship between budgetary control system and effective financial management of tertiary institutions in Bayelsa State, Nigeria. The study adopted survey research design and the population consisted of all the tertiary institutions in Bayelsa State and random sampling was utilized. Primary and secondary sources of data collection was employed with questionnaire as the major instrument of data collection after validity and reliability tests. A total of 343 questionnaires were administered and 241 was used for data analysis. The responses obtained from the administered questionnaires were statistically analysed using univariate, bivariate and multivariate statistics. The findings revealed a positive and significant relationship between budgetary planning, budgetary coordination, budgetary monitoring, budgetary participation and budgetary reporting on cash flow management of tertiary institutions in Bayelsa State, Nigeria. Also, a positive and significant moderating effect of managerial experience on the relationship between budgetary control system and cash flow management of tertiary institutions in Bayelsa State, Nigeria. The paper concludes that budgetary control systems are a significant determinant of cash flow management and managerial experiences moderate significantly the association between budgetary control systems and cash flow management of tertiary institutions in Bayelsa State. The paper recommends amongst others that tertiary institutions should prioritise managerial experience in the recruitment, promotion, and retention of financial and administrative staff since experienced staff possess deeper understanding and intuition regarding budgeting systems, leading to better cash flow monitoring and control.