The main aim
of this research work is focused on “Budgeting in Higher Institution of
Learning in Nigeria “Federal Polytechnic, Okoh.
The project set out to examine the
effectiveness and efficiency of budgeting system in order to evaluate the past,
present and future performance and trends in Federal polytechnic, Okoh’s
project work, 50 questionnaires were distributed randomly among the staff at
the institution. There were 100%
responses as records in chapter four.
analyses using tables and percentage.
Finding were as follows:-
Confusion as to the purpose of budget
Lack of definite goals spelt out in budge
Use of technical jargons
Appropriate method to be used in high institutions
There is no control on performance.
OF THE STUDY
The practice of budgeting is as old as modern civilization
and is central to effective management of learning resources. Most peoples, organisation, Institutions and
companies will at one time or the other plan ahead, I terms of there activities
and their available resources. This is done as a statement prepared and
approved prior to a defined period of time, of the policy to be pursued during
that period for the purpose of attaining a given objective. It serves as a quantitative expression of a
plan of action and an aid to co-ordination and implementation.
As well as being a plan, a budget also act as a control
against which actual performance can be evaluate. In order to make its decisions wisely, the
management of federal polytechnic, Okoh and other higher institutions in
Nigeria must have a vision about its future, and budge enhance that. Budget provides a rational and objective
basis for allocation of scare resources in that institution. With so may
competing needs of the management, the school and students, with regard to her
learn resources, the discipline of budgeting compels school management to be
discreet in allocating limited resources to meet unlimited expenditure
possibilities. This does not suggest the absence of sentimentality and
irrationality but at least these are minimized.
The aim of this project is “Budgeting in Higher Institutions
of learning particularly Federal Polytechnic, Okoh”. It will cover areas as expected grants,
internally generated revenue as well as expected expenditure.
Discussion will also be made as to the importance of
Budgeting to Federal Polyphonic, Okoh including other higher Institutions of