TABLE OF CONTENTS CERTIFICATION COPYRIGHT DECLARATION DEDICATION ACKNOWLEDGEMENTS ABSTRACT TABLE OF CONTENTS LIST OF TABLES LIST OF FIGURES LIST OF ABBREVIATIONS CHAPTER ONE 1 1.0 BACKGROUND INFORMATION 1 1.1 1 1.2 1 1.2.1 4 1.2.2 5 1.2.3 OUT 6 1.3 7 1.4 8 1.4.1 8 1.4.2 8 1.5 9 RESEARCH RESEARCH PUBLIC V
LIST OF ABBREVIATIONS CDF Constituency Development Funds COBIT Control Objectives for Information and Rated Technology COSO Committee of Sponsoring Organisations ESDP Education Sector Development Programme Higher Education Students’ Loans Board GDP Domestic Product ICE Institute of Continuing Education IEMT Educational Management Technology IGA’s Income Generating Activities IT Information Technology MDGs Millennium Development Goals NBAA National Board of Accountants and Auditors NGO’s Non- Government Organizations NSGRP National Strategy for Growth and Reduction Poverty OCB The Open University of Tanzania of Consultancy Bureau OUT The Open University of Tanzania SACCOS Savings and Credit Co-operative Societies SPSS Statistical Package for Social Sciences
According to the results, as shown in Table 4.2, 13.0% of the respondents indicated that they had an experience of less of two years; another 20.0% of the respondents had an experience of 2-5 years, as well as 47.0% of those who indicated that they had an experience of 6-10 years. This shows that 67.0% of the respondents had worked in their organization for a period of over five years which means that they had the necessary knowledge with regard to the operations of financial control mechanism on effectiveness management of incomes from Income generating activities and were able to examine the financial performance. 4.5 Types of Income Generation Activities at OUT Table 4.3, findings show that statement of agree has effective and efficiency of income generation on activities at OUT system it is important statement followed (70%) on fee collection contribute income to the universities on teaching students, (58.3%) in Consultancy income generation activities, some percentage goes to Universities as an income, (70%) in short and long courses Training, fees collection contribute to the income of Universities, (70%), on rental collections, rental fees charged contribute the income, (65.5) on evening and executive programmes, fee collection contribute income to the universities, (60.0) on hiring of University premises example of hall, canteen, rental fees charged contribute the income, (45.0) sales of memorabilia and books, fee collection contribute income to the universities, (43.8) OUT Miss Excellent, fee collection contribute income to the universities compare to only 0% were agree not important to organization to have these system of income generation . This implies that in most cases, there are effective income followed in OUT activities in order to improve its effectiveness and efficiency at
(v) Evening and executive programmes: Fee collection contribute income to the universities (vi) Hiring of University Premises i.e. hall, canteen: Rental fees charged contribute the income (vii) Sales of memorabilia and books: Fee collection contribute income to the universities (viii) OUT Miss Excellent: Fee collection contribute income to the universities Identify financial control mechanisms applicable to IGA’s at OUT S/N Very Effective Effective Don’t know Very ineffective Not effective at all I Control of Ii Integrity iii Proper chain of command iv Risk mitigation Proper authorization and verification vi Proper record keeping vii Separation of duties in handling accounting transactions viii Good communication within the organization efficiently and effectively xv Use of IT resources x Avoidance of enveloping and responsibilities of duties xii Certify completion of the reconciliation process xiii Verify that all transactions initiated posted in a reasonable period ix Ensure the reliability and integrity of financial information x Ensure compliance to the university with laws