APPLICATION OF FINANCIAL MANAGEMENT PRACTICES AND EFFECTIVE SCHOOL ADMINISTRATION IN RIVERS STATE UNIVERSITIES, NIGERIA

This study examined the relationship between the application of financial management practices and effective school administration in Rivers State universities, Nigeria. The increasing demand for accountability, transparency, and sustainable resource utilization in higher education administration has made effective financial management practices essential for improving institutional performance and administrative effectiveness. Specifically, the study investigated budget planning, financial monitoring, and financial control as dimensions of financial management practices in relation to effective school administration. Three research questions and three null hypotheses guided the study. A correlational research design was adopted to determine the degree and direction of relationship among the variables without manipulation. The population of the study comprised 2,451 registered academic and administrative staff from Rivers State universities, including Rivers State University and Ignatius Ajuru University of Education. Using Taro Yamane’s formula, a sample size of 344 respondents were determined and selected through proportionate stratified random sampling technique to ensure adequate representation of the institutions and staff categories. Data were collected using two structured instruments titled Financial Management Practices Questionnaire (FMPQ) and Effective School Administration Questionnaire (ESAQ). The instruments were validated by experts in Educational Management and Measurement and Evaluation. Reliability coefficients of 0.83 and 0.85 were obtained using the Cronbach Alpha method, indicating high internal consistency. Data were analyzed using Pearson Product Moment Correlation Coefficient (PPMC) to answer the research questions, while t-transformation statistics associated with the correlation coefficient were used to test the hypotheses at the 0.05 level of significance. The findings revealed significant positive relationships between budget planning, financial monitoring, financial control, and effective school administration. The study concluded that effective application of financial management practices is significantly associated with improved administrative effectiveness in Rivers State universities. It was recommended that university management should strengthen budget planning, financial monitoring, and financial control practices through improved transparency, regular financial reviews, and continuous capacity development for administrators to sustain effective school administration.