Societies and Application of Funds in a Government Parastatal

Societies and Application of Funds in a Government Parastatal

Project / Seminar Material
Reference ID: PS-11833-TM

DEDICATION

This research material titled “Societies and Application of Funds in a Government Parastatal” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Banking and Finance (BF), Book Authors and Profound Scholars of existing or related project material on “Societies and Application of Funds in a Government Parastatal” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”

    Societies and Application of Funds in a Government Parastatal

    CHAPTER ONE

    Introduction

    1.1 Background Of The Study

    Organization both profit and non- profit oriented need funds (financial assets) for their numerous operations. That is why all organizations irrespective of their legal forms, device a means their day- to − day operations. The funds sourced are not normally kept idle by the organization rather they are either being re invested to generate future profit or consumed immediately to achieve the origination day to day goals hence the word “ source and application of funds” in accounting profession

    Source and application of funds simply means the various avenues available to an organization thought which it source it’s financial assets and all the outlet through which the sourced financial assets leaves the coffers of the organization

    In recent past, government pareastalal which institute of management and technology is one, depended revenue grants in forms of subvention for few existence and growth, in this era of privatization, the government has decided to shade off it’s financial responsibilities in almost government paratatal so as to concentrate in it’s constitutional role of providing enabling environment for economic activities to thrive. This scenario has left many government paratatal in total financial drought

    For instance, the immediate lost years in the which institute of management and technology has been a hectic one as financial starvation meted to it by the government has left the which institute with the following identifiably problems;-

    1. Constant face off between management and trade union in respect regular payment of salaries
    2. Lack of promotion to staff that are due to be promoted
    3. Inability to maintain their fixed assets such as
      • Building
      • Motor vehicle
      • Furniture and fittings
    4. Inability to settle their other numerous over heard costs
    5. Absence of non structures to replace the dilapidated once etc

    The colossal nature of these problems enumerated above made the institute of management and technology IMT various avenue of source for the following

    1. Creation of non− existing charges such as accreditation fees, development fees and upward review of other existing charges;
    2. Carrying out aggressive campaign to increase the number of students intake by reaching out to all seventeen local government in the state and beyond
    3. Scaling down the work force
    4. Denial of promotion to staff

    Those are due to be promoted those member yielded a positive result as a report is issued by admission department shows that nearly over 20,000 student were admitted in this academic year and the management can now pay their monthly salary bills of over 39 million naira and other overhead cost. But the sustainability of the current trend is fillgloomy as the funds sourced from these measures would be applied in solving short term problem which is mainly revenue in nature. While capital projects would be unattended to based on this it has become of paramount importance that a re appraised of all sourced of fund available to IMT and how the fund sourced would be applied be made to funds for it’s capital and revenue expenditure.

    Hence my choice of this topic source and application of funds I a government parastatal” A case study of institute of management and technology IMT Enugu. Those research is concern with exposing the source and application of funds.

    1.2 Statement Of Problems

    Most organization both profit and non profit oriented has problem knowing how to raise funds for their operation and most often fail utilize the available funds. The following problem below are found as obesities inherent in sources and application of funds in institute of management and technology IMT enugu.

    1. It was difficult to know the extent steady sources of fund had made (I.M.T) scale down it’s cout force.
    2. I.M.T funds it difficult to erect new structures show as class-room student intake
    3. It was difficult to know wetter I.M.T applies the funds it sourced in most appropriate manner,
    4. The impact of government discontinued finding to I.M.T was unknown Objectives/

    1.3 Purport Of The Studty;

    THIS research topic ‘socures and application of funds in government parasratal was set towards establishing the following objectives:

    1. To ascertain the extent the lack of steady source of funds had made IMT scale down it’s work force
    2. To find out how difficult it was to IMT to put up new class room blocks in retaliation to number of student in take
    3. To know whatever IMT applies the fund its scoured in most appropriate manner
    4. To determine the impact of government discontinued finding to IMT financial stability
    5. To ascertain why staffers not promoted when due
    6. To keep the extent IMT management their fixed asset

    1.4 Scope Of The Study;

    This research work is limited to the source of funds available to IMT enugu and how such funds ar4e expended the study will examine reports covering from (2000 to 2005) the major constraints of this project re money, tine and materials. Each of these factors in addition to secrecy exhibited by some staff of the institute.

    1.5 Research Questions;

    To guide the study six research question were formulated as follows

    1. What extent does the lack of steady source of funds made imt scale down its workforce?
    2. To what extent does imt used it’s sourced fund to erect new class room blocks in relative to the number of the student in − take
    3. Does IMT soured it’s fund internally or externally
    4. To what extent does IMT apply the fund if sourced in most appropriate manner
    5. Does the fund sourced goes payment of staff salaries only
    6. Does the fund sourced goes solve some management problem like erecting of class room blocks setting their other numerous over heard cost, equipping student library maintaining their fixed assets such as building, motor vehicles furniture and fittings etc.

    1.5 Research Questions;

    1. To guide the study four researches were formulated as follows
    2. What extent does the lack of steady source of funds made imt scale down its workforce?
    3. To what extent does imt used its sourced fund to erect new class room blocks in relative to the number of the student in − take

    1.8 Definition Of Terms

    1. Application;

    This means were these funds money sourced, what it is flashed for

    2 Source;

    Place from which something comes or is obtained nova’s starting points,

    3 Prasatal companies’

    Bodies or government bodies or institutions

    4 I.M.T;

    Institute of management and technology imt enugu .

    …

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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