GASPRO International Journal of Eminent Scholars
FINANCIAL INFORMATION SYSTEM AND SCHOOL BUDGET PREPARATION FOR SMOOTH RUNNING OF TERTIARY INSTITUTIONS IN AKWA IBOM STATE
The research work examined the financial information system and school budget preparation for smooth running of tertiary institutions in Akwa Ibom State. The study investigated that school budgeting plays crucial roles in the proper management of financial resources within tertiary institutions. It involves the process of planning and allocating funds to various academic, administrative, and support functions, ensuring that resources are utilized effectively to achieve the institution's objectives. A well-structured school budget aligns financial resources with strategic priorities, enabling the institution to deliver quality education and support services. The study analyzed the concept of financial information, accounting information, school budget and the types of Account information. The study concluded that The study concluded that school budgeting plays a crucial role in the proper management of financial resources within tertiary institutions. Effective school budgeting requires a thorough understanding of the institution's financial needs, revenue streams, and expenditure patterns. The Financial information system encompasses the processes, procedures, and technologies used by an organization to collect, analyze, and report financial data. One of the recommendations made was that financial information system should be made effective in tertiary institutions in Akwa Ibom state to help track revenue sources, monitor expenditure patterns, and analyze financial performance of the institutions in order to be used for diligent decision making.
KEYWORD: Financial Information System, School Budget Preparation, Tertiary Institutions and Akwa Ibom State.