Diversification of Sources of Funding University Education for Sustainability: Challenges and Strategies for Improvement

Ekpoh, Uduak Imo; Okpa, Ovat Egbe

doi:10.9734/jesbs/2017/34494

Cited by 5 publications

(7 citation statements)

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“…The findings are in tandem with previous studies which found that diversification strategies to create fiscal space such as ventures are essential alternative means of generating additional income to solve educational institutions' financial problems (Ekpoh & Okpa, 2017;Nyamewega, 2016;Amos & Koda, 2018;Adan & Keiyoro, 2018;Osei-Kuffour & Peprah, 2020) As a result, the study rejects the null hypothesis that there is no significant influence of the creation of fiscal space on financial sustainability of PSCEIs.…”

supporting

confidence: 84%

“…The pandemic brought untold hardships to the world, which led to breaks of various activities, including education, at all levels due based on government's order to suspend educational activities in a bid to stem the spread of the virus. The major source of revenue was, therefore, curtailed, forcing heads of these institutions to plead for government's assistance to pay the salaries of teachers (Quartey, 2020;Dogbey, 2020).…”

Section: Introductionmentioning

confidence: 99%

“…Various studies have looked at the financial sustainability of educational institutions (Afriyie, 2015;Nyamwega, 2016;Cernostana, 2017;Kharusi & Murthy, 2017;Ekpoh & Okpa, 2017;Adan & Keiyoro, 2018). None of these studies considered the financial sustainability challenges of the private sector in the provision of secondary education.…”

Section: Introductionmentioning

confidence: 99%

“…Income diversification has been noted to connects the practice of moving away from traditional income sources (student fees) to new, unrelated, and sustainable income streams without endangering the core duty, quality, and operations of an institution (L'Souza, 2018). Income diversification is considered as the creation of additional income besides the primary income source through new unrelated revenue sources that add to the pool of income available to an institution for operations (Ekpoh & Okpa, 2017). The authors noted that for educational institutions to survive in the longterm, diversification of funding sources is imperative.…”

Section: Introductionmentioning

confidence: 99%

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Creation of Fiscal Space for Sustainability of Private Second Cycle Institutions: The Role of Income Diversification

Kuffour¹

2021

theijbm

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Private schools around the world continue to face sustainability challenges due to limitations in fiscal space as they strive to provide top notch academic services to their customers. Some educational experts have predicted the closure of many private schools in the last few years as a result of low financial stability indicators of these academic institutions. From this state of affairs, this study sort to examine the role of income diversification in the creation of fiscal space for academic sustainability of private second cycle educational institutions. A quantitative research approach was adopted. The study made use of descriptive correlational design. Descriptive statistics based on the central tendency with SPSS and regression process by Hayes model 1 were used to analyze and interpret the data collected from 190 private second cycle educational institutions in Ghana, randomly selected out of the population of 315, to answer self-constructed questionnaire. Results showed that private second cycle educational institutions have very low levels of income diversification activities to create fiscal space. There was a positive, significant influence of creation of fiscal space on financial sustainability. The findings have implications for income diversification strategies which create fiscal space and harness institutional income levels for academic and/or financial sustainability.

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supporting

confidence: 84%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Creation of Fiscal Space for Sustainability of Private Second Cycle Institutions: The Role of Income Diversification

Kuffour¹

2021

theijbm

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“…The need for adequate funding of secondary education has placed on the principal the urgent need to diversify the generation of revenue internally in the school by applying the right strategies. Study carried out by Ekpoh and Okpa (2017) showed that most schools invest into consultancy services, commercialization of physical facilities as strategies for generating revenue internally. There are principals that have explored internal and external sources as a way of boosting revenue generated internally at the secondary level of education.…”

Section: Discussion Of Findings Sources Used By Principals In Generatmentioning

confidence: 99%

Generating and Allocating Internal Revenue for Public Secondary School Administration in Cross River State

Nyeh¹,

Kpee²

2019

ASSRJ

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The design adopted for this study was correlation. Population of the study consisted of all the 504 public secondary schools principals in 18 LGAs in Cross Rivers State. However, purposive sampling technique was use to select the 504 principals a sample for the study. There were two research questions and two hypotheses formulated for the study. Questionnaire was the instrument used for data collection with 20 items and titled “Generation and Allocation of Internal Revenue for School Administration Questionnaire” (GAIRSAQ). The GAIRSAQ was validated by the researchers’ supervisors as well as two experts from Measurement and Evaluation in the Department of Psychology, Guidance and Counseling. Split half statistic associated with Spearman Brown prophecy formula was used to estimate the reliability of the questionnaire with co-efficient of 0.86. Mean, standard deviation and rank order were used to answer the research questions while z-test was used to test the hypotheses at 0.05 level of significance. The findings of the study showed that rentage, community assistance, PTA contributions, fund raising campaigns were among the strategies for generating revenue in public secondary schools in Cross River State. The study also showed that revenue was majorly allocated based on the urgency of the need and that revenues generated were utilized for different administrative needs such as provision of facilities, maintenance and day-to-day running of the school. Therefore, it was recommended among others that principals should develop an equitable revenue allocation formula for effective administration of public secondary schools in Cross River State.

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Revenue sourcing for the financial sustainability of a university of technology: an exploratory study

Ngcobo,

Marimuthu,

Stainbank

2024

Cogent Education

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Diversification of Sources of Funding University Education for Sustainability: Challenges and Strategies for Improvement

Cited by 5 publications

References 0 publications

Creation of Fiscal Space for Sustainability of Private Second Cycle Institutions: The Role of Income Diversification

Creation of Fiscal Space for Sustainability of Private Second Cycle Institutions: The Role of Income Diversification

Generating and Allocating Internal Revenue for Public Secondary School Administration in Cross River State

Revenue sourcing for the financial sustainability of a university of technology: an exploratory study

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