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Kennedy Maundu Muthama

Master of Business Administration (Finance)

Kenyatta University


Fredrick Warui

Kenyatta University



CITATION: Muthama, K., M. & Warui, F. (2019) Financial Management Practices and Performance of Devolved Sub-County Treasuries of Makueni County, Kenya. International journal of Economics and Finance. Vol. 10 (10) pp 1 – 20.





Financial management helps to improve the profitability position of business organizations with the help of strong financial control devices such as budgetary control and ratio analysis. The National Treasury has issued several guidelines on how counties should spend the available public finances economically, efficiently, effectively and to the satisfaction of various stakeholders. This study sought to determine the relationship between financial management practices and performance of devolved sub-county treasuries in Makueni County, Kenya. Specifically, the study looked at revenue collection practices and budget control practices in relation to the performance of devolved sub-county treasuries of Makueni County. This study was anchored on positive accounting theory. The research adopted a cross-sectional survey design. The study targeted the 227 employees working in the devolved sub-county treasuries within Makueni County from which a sample of 144 respondents being the top-level management, senior management/supervisory level and low-level management staff were considered. Purposive sampling technique was used to pick the respondents. This study collected primary data through use of a questionnaire and secondary data by use of a data collection form. Data was analyzed using descriptive and inferential statistics. Statistical Product and Service Solutions (SPSS) was the main software for data analysis. The results were put in a table form of pie charts and bar graphs to enable interpretation and form the basis of conclusions and recommendation. it was shown that majority of the devolved sub-county treasuries of Makueni County had adopted revenue collection practices. From regression results, revenue collection practices had the second largest and significant influence on performance of sub county treasuries in Makueni County. it was noted that majority of the devolved sub-county treasuries of Makueni County practiced budget control as part of the financial management practice. Regression results indicated that budget control practices had the least and insignificant influence on performance of devolved sub-county treasuries of Makueni County. The study recommends that the Revenue Officers working in sub-county treasuries of Makueni County should improve on revenue collection systems in place. The Revenue Managers of the sub-county treasuries of Makueni County should adopt automation of the systems to be used in collection of revenues. The study recommends that the Budgeting Officers of the devolved sub-county treasuries of Makueni County should put more efforts towards improving the budgeting practices in place so as to significantly influence performance.


Key Words: Financial Management Practices, Organizational Performance, Budget Control Practices




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