Revenue Mobilization, Budgetary Controls And Financial Sustainability Of Public Universities In Kenya

Abstract

Universities play a key role in developing human capital necessary for nations� global competitive and economic growth. Universities in developing countries continue to face a myriad of challenges that threaten their existence. The study assessed the effects of budgetary controls and revenue mobilization on financial sustainability of public universities in Kenya. The study covered all the 31 public universities in Kenya for the period 2014-2019 and used Feasible Generalized Least Squares (FGLS) for panel data analysis. The study finds that budgetary controls and revenue mobilization have a significant positive affect on financial sustainability of public universities. The study recommends that budgeting committee to align the budgets within available funding and continually tighten expenditure controls to enhance budgetary controls. Additionally, innovative alternative avenues of resource mobilization should continually be explored in light of declining government funding for financial sustainability of universities.