Budgetary control and management of finance in micro finance institutions: case study Centenary Rural Development Bank
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Date
2008-11
Authors
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Publisher
Kampala International University; College of Economics and management
Abstract
The purpose of the study was to find out whether financial management depends on budgeting control in Micro-finance institutions. The specific objectives of the study were to make a survey of and analyze the process of budgeting at Centenary Bank; make a survey of and analyze how the budget is experienced by the different departments at Centenary Bank; and to find out the relevance of the budget as a tool of steering at Centenary Bank. The methods used for data collection were questionnaires and interview guide the staff and Management of Centenary Bank respectively. The findings revealed that budgeting process in not properly followed. The study recommended the management should ensure that the budget is followed up in monthly meetings where the management and the heads of departments should meet; management should establish the budget goals and directives that should always become guidelines for all the departments; and Good leadership styles should be emphasized in the management of the company in order to ensure that the budget is followed and adhered to. If there if any deviation from the budget it should be investigated by the authority.
Description
Research report submitted in to the School of Business and Management for partial fulfillment for the Award of Bachelors of Business Administration of Kampala International University
Keywords
Budgetary control, Management of finance, Micro finance institutions, Centenery Rural Development Bank