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The major purpose of this study was to assess the use of budgeting as a means of
improving organization performance in private institutions. This was supported by the
following specific objectives: to evaluate effectiveness of budget communication, to
determine the effective use of budget, and to evaluate the efficient implementation of
budgets. In satisfying these specific objectives, the study applied both quantitative and
qualitative approaches to deal with research questions, and used a case study research
design basing on simple descriptive, in describing elements related to the topic under
study. A census study of sixty six (66) members from Kolping society management team
was carried out.
The study involved different methods for data collection including observation,
interview and questionnaire. Findings were analyzed as follows: Quantitative data was
analyzed using Statistical Packages for Social Sciences (SPSS) Version 20, based on
frequencies and percentages, and qualitative data was analyzed using thematic analysis.
From the study, it was discovered that the organization is faced with the problem of delay
of the preparation of financial reports which lead to late disbursement of funds, poor
coordination of its activities, poor internal control, and lack of frequent training on
budget to update organization members’ knowledge.
The study recommended that, private organizations should record their data timely to
provide data for easy preparation of reports and timely disbursement of funds, review of
accounting policies to strengthen internal control, improvement of productivity by
investing on viable projects, and lastly frequent training on budgeting should be
conducted to update organizational members on the current budgeting techniques. |
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