;1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Organization both profit and non- profit oriented need funds (financial assets) for their numerous operations. That is why all organizations irrespective of their legal forms, device a means their day- to –day operations. The funds sourced are not normally kept idle by the organization rather they are either being re invested to generate future profit or consumed immediately to achieve the origination day to day goals hence the word “ source and application of funds” in accounting profession
Source and application of funds simply means the various avenues available to an organization thought which it source it’s financial assets and all the outlet through which the sourced financial assets leaves the coffers of the organization
In recent past, government pareastalal which institute of management and technology is one, depended revenue grants in forms of subvention for few existence and growth, in this era of privatization, the government has decided to shade off it’s financial responsibilities in almost government paratatal so as to concentrate in it’s constitutional role of providing enabling environment for economic activities to thrive. This scenario has left many government paratatal in total financial drought
For instance, the immediate lost years in the which institute of management and technology has been a hectic one as financial starvation meted to it by the government has left the which institute with the following identifiably problems;-
1) Constant face off between management and trade union in respect regular payment of salaries
11) Lack of promotion to staff that are due to be promoted
111) inability to maintain their fixed assets such as
a) Building
b) Motor vehicle
c) Furniture and fittings
1V) inability to settle their other numerous over heard costs
V) Absence of non structures to replace the dilapidated once etc
The colossal nature of these problems enumerated above made the institute of management and technology IMT various avenue of source for the following
I) Creation of non–existing charges such as accreditation fees, development fees and upward review of other existing charges;
ii) Carrying out aggressive campaign to increase the number of students intake by reaching out to all seventeen local government in the state and beyond
iii) Scaling down the work force
iv) Denial of promotion to staff those are due to be promoted
those member yielded a positive result as a report is issued by admission department shows that nearly over 20,000 student were admitted in this academic year and the management can now pay their monthly salary bills of over 39 million naira and other overhead cost. But the sustainability of the current trend is fillgloomy as the funds sourced from these measures would be applied in solving short term problem which is mainly revenue in nature. While capital projects would be unattended to based on this it has become of paramount importance that a re appraised of all sourced of fund available to IMT and how the fund sourced would be applied be made to funds for it’s capital and revenue expenditure.
Hence my choice of this topic source and application of funds I a government parastatal” A case study of institute of management and technology IMT Enugu. Those research is concern with exposing the source and application of funds.
TABLE OF CONTENT
TI TLE PAGE
CERTIFICATION
DEDICATION
ACKNODELDEMENT
PROPOSAL
TABLE OF CONTENT
CHAPTER ONE;
0.1 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
1.2 STATEMENT OF PROBLEM
1.3 PURPOSE OF THE STUDY
1.4 SLOPE OF THE STUDY
1.5 RESEARCH QUESTIONS
1.6 RESEARCH HYPOTHESIS
1.7 SIGINFICANCE OF THE STUDY
1.8 DEFFINTION OF TERMS
REFERENCEE
CHAPTER TWO:
2.0 IVTERATURE REVIEW
2.1 INSTORICAL BANKGROUND OF IMT
2.3 PHILOSOPHY AND MANPOWER PRODUCTION STRUCTURE OF THE INSTITUTE OF MANAGEMENT AND TECHNOLOGY
2.4 THE ACCOUNTING SYSTEM IN USE IN A GOVERNMENT PARASTATAL
2.5 RESOURCE CONTROL AND DECISION MAKING
2.6 INTERNAL CONTROL MECH ANLSMS IN GOVERNMENT PARASTATAL.
2.7 ORGANIZATIONAL STRCTUREOF IMT
2.8 THE VARIROUS FUND AVAILABLETO IMT ENUGU
2.9 REFERENCE
CHAPTER THREE;
3.0 RESEARCH METHODOLOGY
3.1 RESEARCH DESIGN
3.2 SOUURCES OF DATA
3.21 PRIMARY SOURCES
3.22 SECONDARY SOURCES
3.3 DETERMINATION OF SAMPLE SIZES
CHAPTER FOUR;
4.0 REPSENTATION AND ANALYSIS OF DATA
4.1 QESTION ONE
4.2 QESTION TWO
4.3 QESTION THREE
4.4 QESTION FOUR
4.5 QESTION FIVE
4.6 QESTION SIX
4.7 QESTION SEVEN
4.8 QESTION EIGHT
4.9 QESTION NINE
4.10 QESTION TEN
REFERENCE
CHAPTER FIVE ;
5.1 DISCUSSION OF RESULTS
5.2 CONCLUSION
5.3 RECOMMENDATATIONS
5.4 SUGGESTIONS FOR FUTHER STUDY
5.5 LIMITATIONS OF THE STUDY
REFERENCE
BIBLOGRAPHY