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INTRODUCTION represents the future for best practice in

organisations (Njini, n.d.).


SLU believes in the promise of youth.
Hence, to help Louisians develop their Considering these, one can see that financial
leadership potentials and life skills, SLU management practices are most essential to
promotes student organizations (Saint Louis keep a school organizations effectiveness
University). and efficiency. Four major practices school
organizations are using includes budgeting,
A student organization has its own
cash receipts management and cash
governing body. According to the SLU
disbursements management, and record
Student Handbook (2015), the officers of
keeping.
each student organization shall be elected by
the members thereof, provided, however, Guthrie et al. (1988) sees budgets to be
that every election shall be under the representing the financial crystallization of
supervision of, and subject to regulation by, an organizations intentions. It is through
the assigned faculty adviser. An budgeting that a school can decide to
organizations governing body is ultimately allocate resources so as to achieve
responsible for the financial health of the organizational goals. Clarke (2008)
organization (Council on Accreditation, mentioned that preparing the annual budget
2017). Clarke (2008) emphasized that the is probably the biggest challenge of the
first and most important aspect of managing school governing body. Evaluating the
a school's finances is to be quite clear who is budget involves a critical examination of the
responsible for what. extent to which the money allocated to the
various programmes and committees
It was stated by Mestry (2004) that there are
managed to achieve (the schools) objectives
many school governing body members who
(Marishane and Botha, 2004).
lack the necessary financial knowledge and
skills and are placed under tremendous Cash receipts management is a set of
pressure because they are unable to work out institutional arrangements and management
practical solutions to the financial problems procedures used to receive cash, move cash
at hand. The management of school finances into the banking system, and obtain accurate
can be one of the most challenging and timely information on cash availability
responsibilities, because for many it is an (Hill and Sartoris, 1988).
area in which they have little or no training
Disbursement systems include the banks and
or expertise (Clarke, 2008).
the delivery mechanisms and procedures
According to Mestry (2006), there is a used to facilitate the movement of cash from
correlation between sound financial the firms centralized cash pool to
management and effective and efficient disbursement banks and then on to suppliers
school governing bodies. Sound financial and other payees (Hill and Sartoris, 1988).
management begins with an organizations Cash disbursement management involve
commitment to providing high quality effective expenditure authorisations and the
services relative to its mission or purpose. It systematic recording and monitoring of
is one of the basic functions practice in all expenditure commitments and actual
organisations. It is the way forward and payments (Uluinaceva, 2005).
Financial records are formal documents Figure 1. Conceptual Diagram
representing the transactions of a business,
Independent Variables
individual or other organization. (Business
Dictionary). A successful organization Student Organizations
relies, not only on solid cash flow, but also Membership size (number of
on sound record keeping practices. Without members of the organization)
Scope of the organization (school-
meaningful records of what youve actually wide or university-wide)
done and, more importantly, whats coming Category of the organization
up, you may be facing unexpected trouble (extracurricular or co-curricular)
and certain costly consequences (The
Marketing Pod Ltd.).
Independent variables are conditions or
characteristics which are presumed cause or Dependent Variables
influence of the existence or change in Level of Implementation of Financial
certain phenomena. The independent Management Practices
variables in this study are the characteristics Budget proposal preparation
of the student organizations in terms of their Cash receipts management
Cash disbursements management
membership size, scope (university-
Record keeping
wide/school-wide) and category (co-
curricular/extracurricular).
Dependent variables are conditions or
characteristics which are influenced by the Expected Output
independent variables. They are the focus of Improved Implementation of Financial
the investigation; its behavior or status as Management Practices
influenced by the independent variables is
the concern of the investigators. In this
study, the researchers will measure the level The researchers have the following
of implementation of financial management assumptions regarding this study:
in terms of budget proposal preparation, 1. Respondents have adequate knowledge of
cash receipts management, cash Financial Management practices applicable
disbursements management and record in student organizations.
keeping.
2. Saint Louis University is an educational
institution that has variety of Student
Organizations.

3. The operations of Student organizations


in Saint Louis University are affected by
various factors such as a) the size of the
student organization, b) the scope of the
organization and c) the category that the
organization falls under.
This study will be helpful to the 2. What is the level of implementation of
management of finances of student financial management practices of student
organizations in carrying their goals and organizations in SLU in terms of: (a) budget
objectives through an effective and efficient proposal preparation, (b) cash receipts, (c)
implementation of financial policies. cash disbursements, and (d) record keeping?
It will give the active members of student 2.1 Is there a significant difference in
organizations knowledge on the financial the implementation of financial
management and a better understanding and management practices of student
coordination in the implementation of organizations in SLU in terms of: (a)
financial management. This study will budget proposal preparation, (b)
encourage student organizations to cash receipts, (c) cash
reevaluate their existing implementation of disbursements, and (d) record
financial management. keeping when they are grouped
according to their profile in terms of:
This study will be helpful to the members of
(a) membership size (number of
the student organizations in undertaking
members of the organization), (b)
financial management and their
Scope of the organization, and (c)
implementation. It will help existing student
category of the organization?
organizations in improving their financial
management and their existing For better understanding of the research
implementation study, the following hypothesis were
formulated as guides in analyzing the data
Newly formed organizations can also
for study:
benefit from this study. Newly formed
organizations can use this study as 1. There is no significant difference in the
guidelines in the process of establishing and implementation of financial management
improving their financial management. practices of student organizations in SLU in
terms of: (a) budget proposal preparation,
Lastly, this study will help us, the
(b) cash receipts, (c) cash disbursements,
researchers, to dissect and investigate
and (d) record keeping when they are
further about the financial management of
grouped according to their profile in terms
student organizations and betterment of
of: (a) membership size (number of
financial operations of student
members of the organization), (b) Scope of
organizations.
the organization, and (c) category of the
Specifically, the research study will seek to organization.
answer the following questions:
This study is designed as a descriptive
1. What is the profile of the student investigation in the area of financial
organizations in terms of their: (a) management practices of student
membership size (number of members of the organizations of Saint Louis University in
organization), (b) Scope of the organization, Baguio City.
and (c) category of the organization?
The study of financial management
practices will be limited to the following
aspects: a) Budget proposal preparation b)
Cash receipts c) Cash disbursements d)
Record Keeping.
The issues and concerns of the study will be
to what level do student organizations are
implementing financial practices on their
semestral operations
The study will seek to determine the
characteristics of student organizations in
terms of their a) size, b) purpose and their c)
category.
The respondents will be chosen on the basis
of their participation in the organization.
They must occupy the positions of treasurer
and auditor.

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