An investigation into the disposition of financial records at Umeme

Abstract

The study conducted was about the disposition of financial records at Umeme Bombo branch. The objectives of the study were to find out the types of financial records kept at Umeme, to assess the retention and disposition schedule of financial records at Umeme, to analyze the records disposition methods for financial records, to assess the legal and regulatory issues concerning the disposition of financial records and to find out the challenges together with the proposed solutions to the challenges affecting the disposition of financial records. To achieve the stated objectives, both qualitative and quantitative research approaches with the help of the exploratory, descriptive and case study research design were used to collect data while in the field. A simple random sampling technique was used and a sample size of twenty out of thirty provided data to the researcher while in the field. The data collection tools used included the interview guide, observation guide, questionnaire guide and content data analysis which were checked for their validity and reliability by the university supervisor before going to the field. Data collected was analyzed using qualitative and quantitative data analysis. The findings revealed the types of financial records kept by Umeme like budgets, loans, receipts among others, it also showed that the organization has a retention and disposition schedule in place, the disposition methods used like transfer to the Archive, recycling, imaging and shredding, the legal and regulatory issues concerning disposition together with the challenges and proposed solutions to the challenges affecting the disposition of financial records. After the findings were analyzed, it showed that the disposition of financial records was inefficient and ineffective due to the challenges faced like inadequate skilled personnel, lack of funds among others. In conclusion, the study recommended that the staff be trained, disposition equipment be purchased, storage places be expanded properly budgeting for the disposition process, regular update of the retention and disposition schedule, recruiting of qualified and skilled personnel among others as a way of improving the disposition of financial records at Umeme and helping the staff to effectively and efficiently carry out their work.