Assessment of inflation control strategies to the Budgetary plans of public secondary schools of The year 2011 in Trans Nzoia county – Kenya.

Abstract

The study assessed the inflation control strategies employed by head teachers on the budgetary plans of public secondary schools in the year 2011 in Trans Nzoia County. The occurrence of inflation in Kenya in the year 2011 really affected the value of the Kenyan shilling. From the study the researcher assessed the inflation control strategies employed by school heads to control the inflation. The purpose of the study was to establish additional inflation control strategies that could be measurable in fiscal terms. Humes classical theory of inflation was used to build up the theoretical frame work. The theory was linked to the Brighams financial management principle where future value of money could be estimated to make a financial forecast of budgetary plans in schools. Conceptual frame work was used to show influence of the independent aspect of inflation to the dependent variable of the school budgetary plan of the year 2011. Descriptive survey was used as a research design. The target population was 100 public secondary schools in Trans Nzoia County of which a representative sample of 30 schools was selected for assessment. Purposive and stratified sampling techniques were used to obtain the 30 schools .A questionnaire was used for data collection process .For the quantitative data collected inferential statistics was applied for analysis. For the qualitative data descriptive analysis was applied. Piloting was carried out in two schools besides the sampled ones to test the questionnaire. Reliability of data was tested by collecting the data twice from five selected schools besides the 30 sampled after which the data was compared. Brigham fomula of fv= pv (1+r) was used to establish the knowledge gap in which the financial gaps could be measured and be fitted up by calculating the future value of money for the forth coming year. From the estimates calculated the researcher found a constant factor r to suit every school category. This factor was to be sourced from the Ministry of Finance and planning by the Ministry of Education. Every school category was to get its r value for adoption in their budgetary plan. The inflation control strategies could benefit school managers, MOE, Education Planers and Education Researchers. The researcher concluded that more researcher be done in assessment of budgetary plan of national schools and private secondary schools.