| dc.description.abstract | The successful provision of basic banking products and services must not be devoid of an
effective budget control system if the organizational goals and objectives are to be achieved.
A detailed review of past studies shows that they were carried out either on a different
context or interrogated different conceptual issues. In addition, some of the past empirical
studies focused on different research methodologies and adopted different data collection
instruments. The purpose of this study was to establish the effect of budgetary control on
financial performance of selected financial institution in Uganda (Centenary bank). The study
specifically sought to establish the effect of budget planning process, budget monitoring and
evaluation, organizational management, cost reduction and organizational commitment on
financial performance of selected financial institution in Uganda (Centenary bank). The study
adopted a qualitative correlational design, and the target population was the employees in
accounting/finance and operations departments of centenary bank. Both secondary and
primary data was used and analyzed using correlation and descriptive analysis. The study
results indicated that budgetary planning has a positive and significant effect on financial
performance (P = 0.000). The study found that budget planning had the most significant
effect on financial performance of centenary bank followed by budget monitoring and
evaluation and organizational commitment. The study recommends that bank managers
should review their current performance yearly targets, work on threats and opportunities,
and analyze the success and failure of previous plans to improve on their budgetary planning.
Further, the managers in commercial banks should establish more budgeting centers, employ
more budget officers, and provide budget manuals to improve on their budgetary control. In
addition, they should solicit for feedback, review budget conference for accuracy and arrange
for catering and other vendors to improve on the budget conference. | en_US |
