Financial sustainability: the case of Collège ADventiste De Maroua, Cameroon

Abstract

Adequate financial resource is a key fundamental ingredient for the success of any organization and lack of it could lead to the demise of expansion plans in any organization. This research studied the financial sustainability of the Collège Adventiste de Maroua in Cameroon. Through descriptive research design, the researcher collected both qualitative and quantitative data from a sample of 263 respondents, including teachers, staff support employees, administration, parents, ExCom and students. The study uncovered that the institution is in a dire financial situation. This situation was caused mainly by insufficiency and lack of adequate infrastructure, insufficient number of students enrolled, the inability of the organization to charge appropriate school fees, and the lack of adequate measures aimed at the collection ofoutstanding fees. The study, therefore, suggested solutions, including major actions to be taken like the building of new infrastructure, the amelioration of the quality of service offered by the organization, and the seriousness of the administration in the collection of the school fees. In addition, the institution ought to have in place a strategic and financial plan, to diversify the organization revenue, maintain a good leadership style and ameliorate the administration of the finance, ensure teamwork among the management, and an appropriate marketing plan.