Browsing by Author "Zungu, Samuel Zamokuhle"
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- ItemAn evaluation of the new funding model for further education and training colleges and its financial implications(Stellenbosch : Stellenbosch University, 2015-12) Zungu, Samuel Zamokuhle; Woods, Gavin; Stellenbosch University. Faculty of Economic and Management Sciences. School of Public Leadership.ENGLISH ABSTRACT: This research study is an investigation into the new funding model of three public Further Education and Training (FET) colleges in KwaZulu-Natal Province. The study aims to understand the extent of the effectiveness of this funding model in the different colleges. Most governments worldwide view education as a central contributor to the economic development of a country and ultimately to its prosperity. It is for this reason that education is considered a national investment. Therefore, in South Africa, the largest portion of government budget is allocated to education, including FET colleges. FET colleges are supposed to contribute to academic and skills development and training. This study evaluates whether government funding to public FET colleges is effective for this skills development and training. I have used Public Finance Management Theory to discuss the contractual relationship between government and FET colleges that is crucial to managing public money in this regard. The methodology used is a mixed-method approach, which is largely qualitative but also uses descriptive statistics in quantitative inquiry. The specific instruments used are structured questionnaires and an analysis of institutional financial documents. The significant finding was that a disproportionate amount of money is spent on personnel salaries and less on students or infrastructure. This means that the new funding model is failing the FET system of education. Importantly, this study establishes that there is a need to engage in partnerships with the private sector as an alternative funding source. It believes that an alternative funding model, particularly in partnership with the private sector, is sustainable and therefore recommends that FET colleges pursue this model alongside government funding.