Financial Sustainability in Technical Universities: The View Point of top Management
Keywords:financial sustainability, technical universities, accountants and auditors’ perspective
The study examined the financial sustainability of Technical universities in Ghana, the view point of Top Management. It was motivated by the fact that Technical Universities by their mandate requires adequate continuous funding to achieve their goals. The study employed a survey technique and considered five (5) Technical universities in Ghana and Descriptive statistics were used to analyze the data acquired from respondents. From respondents’ point of view, Technical universities are financially sustainable over the short-to-medium terms. Also, from respondents’ point of view, full utilization of school facilities, offering professional programs, educating employees on revenue diversification, and forming spin-off businesses will enhance revenue generation for the Technical universities. However, the study established that, outsourcing administrative functions and reducing the needed courses are not appropriate cost-cutting techniques. The study's findings have is useful for financial managers, education stakeholders, and Technical university administration. The study adds to the empirical body of knowledge relating to the financial sustainability of higher educational institutions.