Effect of Budgetary Process on Financial Performance; Case Study of Selected Savings and Credit Cooperative Societies in Hoima District, Uganda


Authors : Herbert Irumba, Godfrey Alinaitwe

Volume/Issue : Volume 4 - 2019, Issue 9 - September

Google Scholar : https://goo.gl/DF9R4u

Scribd : https://bit.ly/32abOEO

The study examined the effect of budgetary process on the financial performance of selected Savings and Credit Cooperative Societies (SACCOs) in Hoima District. It considered two major variables which included budgetary processes and financial performance in SACCOs. The budgetary process considered variables; budgetary planning, budgetary participation and budgetary control. A sample of seven prominent SACCOs was selected from a list of about 60 other registered SACCOs in Hoima district (Hoima District statistician report 2018). The selected SACCOs were Bugambe, Buhimba, Kigorobya, Kitoba, Self-help, Hoima Entrepreneurs’ Development Association (HEDA) and Kolping Entrepreneurs Development Project (KEDEP). The study adopted descriptive correlational and cross-sectional survey design, and followed a quantitative approach. The study population was 210 respondents. The study used (Krejcie & Morgan, 1970) to obtain a sample of 136. The sample was obtained using a proportionate stratified and simple random and sampling technique. Data was collected using self-administered questionnaires and analyzed using Statistical Package for Social Sciences (SPSS Version 16). From the regression table results, it inferred that financial performance is affected by budgetary processes of budgetary planning, budgetary participation and budgetary control in the selected SACCOs in Hoima district. This was indicated by the p-values recorded: budgetary planning (t=2.280, p=0.001), budgetary participation (t=3.065, p=0.004) and budgetary control (t=3.962, p=0.003); The Pearson’s correlations conducted at 95% confidence interval and 5% confidence level 2- tailed, correlation magnitude were 0.788, 0.881 and 0.672 respectively. Results confirmed a significant relationship between the budgetary process and financial performance.

Keywords : Budget, Budgetary Process, SACCO Performance, Financial Performance, Hoima District and Saccos.

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