1.1 Introduction
Financial tracking is the practice of keeping track of one’s income and spending on a daily basis. It is accomplished by recording receipts, invoices, and business expenses into some type of accounting ledger. It complements budgeting and is a useful tool for keeping track of business finances. According to Oyefabi et al., (2014), health organization financing can be defined as the mobilization of funds for healthcare services (Oyefabi et al., 2014). Similarly, it is the provision of money, funds or resources to the activities designed by government to maintain people’s health. These activities encompass the provision of medical and related services geared toward maintaining good health, especially in the aspect of disease prevention and curative treatment. The amount of resources earmarked for health care in a country is said to be a reflection of health value placement vis-à-vis other categories of goods and services (Metiboba, 2012).
As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Limitation of the study and Definition of technical terms.
1.2 Background of Study
In recent years, the use of different channels for banking and financial services has changed the whole way bank customers and their banks interact. With the increasing popularity of the internet, more and more industries are seeking ways to utilize this popular medium in an effort to keep up with the changing technological preferences of their customers. The possibilities of the internet are seemingly endless and the banking industry has decided that it will not be left behind. While most people have at least heard of online banking, the majority of them have probably not tried it yet. Maybe it’s because we find more comfort in working with real people and real paper when it comes to money matters rather than performing transactions in the seemingly impersonal universe of the World Wide Web. A number of authors and experts have defined e-banking services as a contemporary facility that provides conventional bank products and services through a new medium.
It is entirely automated facility based on IT delivery mechanism to conventional banking users’ products and services. It provides online medium of conducting and providing various banking services, such as, online accessibility of bank account, online fund transfer facility, online bills paying facility etc. According to Abu Shanab et al. (2010), internet has transformed the entire business pattern for people as well as for businesses. Although, technological advancements are happening everyday but not every advancement has been welcomed and adapted by financial sector; but financial sector that enjoying advantages of this new mode of service delivery, has adapted the e-banking phenomenon from its introduction only.
Financial tracking can be regarded as the process which ensures that financial resources are obtained economically and used efficiently and effectively in the accomplishment of the desired goals. These processes involve monitoring and analyzing health organization finial condition general and special amount, tracking budgetary procedures, financial statements and reports, payroll/income max calculation and salary payments, and mongering cash flow.
Price of computer all these processes and activities were done manually. The expansion of the university of Nigerian teaching hospital UNTH, Enugu just like any other health organization, will not only intensify but also diversify the financial operations thereby making the activities increasingly difficult and wearisome. The volume of transaction has already increased to a level that requires automation.
Convincingly, the field of data processing a was not easy to get by and so over the years (in the field of data processing with utmost speed) mankind has searched for the extra-ordinary. At such time came the emergence of the computer which is widely used virtually in al areas of human endeavour. The increase in the use of computer in bolt public and private institution of the world economic is an undisputable conclusion for efficiency, speed and accuracy of its operations in achieving results. However, the manual processes and procedures of financial resources allocations and utilization in our contemporary days has been confronted with consistent problems of errors and wastage of time which are traceable to human mistakes and shortcomings.
The establishment of a sustainable, manageable, reliable and flexible financial tracking system for UNTH to curb these problems inherent in the existing system is the bases of this project work. Such as financial tracking system will support all operational counting procedures as well as financial tracking.
1.3 Statement of Problem
Investigation revealed that the problems faced in the financial tracking activities includes:
- The consistent prevalence of errors in calculations arrived out on financial reports which are traceable to human mistakes and shortcoming.
- Improper, handling mistakes of financial statement, report and records as a result of the retrieval presupposes which led to many files been misplaced.
- The interval or time consumed in analyzing and ascertaining the accuracy and approval of financial statements and accounts which in turn effects decision-making and policy formulation.
This research work is prompted to these problems for it is the basis of the above problem facing manually financial tracking procedures and activities today that installed the researchers to look into the subject of curbing and controlling financial tracking activities manually.
1.4 Aim and Objectives of the Study
The aim of the study is to design and implement a Financial Tracking System for a Health Organisation. In achieving this aim, the following specific objectives were laid out as follows:
- To develop an application that will track financial transactions by enabling secure data storage in online transactions database and curb fraud in health organisation;
- To implement a computerized platform for health organisation financial tracking; and
- To properly store and secure the financial statement, report and records of the daily expenditures on health organization.
1.5 Significance of Study
The proposed system would serve as a wakeup call to government so that efficiency and effectiveness will be ensured in the disbursement of funds to the health sector. Also, scholars will benefit from this study as it would provide a fore knowledge of happenings in the health sector in Nigeria and serve as a basis for further research.
1.6 Scope of Study
The scope of the research is focused on design and implementation of financial tracking system for a health organisation using UNTH, Enugu as a case study.
1.7 Limitations of the Study
During the course of this study, many things militated against its completion, some of which are:
- Time Constraint: The time frame given to accomplish this project was very short due to school academic calendar and it was carried out under pressure which made the researcher not to implement some necessary features.
- Research Material: availability of research material is a major setback to the scope of the study.
- Financial Constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet).
1.8 Definition of Terms
Health Care Financing:
It is the mobilization of funds for healthcare services (Oyefabi, Aliyu & Idris, 2014). In other words, it is the provision of money, funds or resources to the activities designed by government to maintain people’s health.
Procurement:
Procurement is defined as the process of searching, finding, agreeing to terms, and buying goods, services, or works from an external source, through the process of tendering or competitive bidding process.
Procurement Fraud:
Procurement fraud is the exercise of dishonestly, obtaining an advantage, avoiding an obligation or causing a loss to public property or various means during procurement process.
Registration:
This means to keep records received from the management for reference purposes.
Management:
It is the co-ordination of all the resources of an Organization through the process of planning, Organization, directing and controlling.
