CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
The tertiary education trust fund supports a variety of programs and activities design to advance the appraisal profession and provide quality education and professional training for current and prospective read estate appraisals.
To ensure that the programs funded by the tertiary education trust fund are consistent with the goals of the trust fund, the tertiary education trust committee has established the following deadlines and format for feeding request. The tertiary education trust fund will typical consider request for proposal at its fall meeting usually held in conjunction with the appraisal institutes fall board of directors meeting so the trust committee has adequate time to receive all proposal, request for funding must be submitted to tertiary institutes office, at least six weeks prior to the meeting date for the tertiary education trust fall meeting.
A subcommittee of tertiary education trust committee will receive and rank, the proposal and then forward then and to the full committee at leas two weeks prior to the meeting. Each request for funding must include the following items;
Goals for the program to be funded and how these goals relate to and serve the goals of the education trust. (Attached) in addition the goals statement for the program must clearly state the benefits of the program to appraisal institute membership and to the profession at large.
The request shall also include a detailed program description (limitation to two pages) describing the program, the audience it will served and the anticipated outcome(s) or deliverable of the program.
The request will detail the total budget for the program including the amount requested for funding from the education trust, and shall include a time frame for delivery or schedule of activities showing the duration of the program.
While the tertiary education trusts sources the broader profession, it also enjoys a close relationship with appraisal institute. The request for funding shall identify the parties responsible for meeting the goals of the program and shall specify who is involved in the program, especially any appraisal institute members, appraisal institute staff and/or non appraisal institute appraiser researchers, program developers and/or academicians.
Financially the request for funding with detail how the involvement of the tertiary education trust will be recognize i.e. the manner in which the role of the tertiary education trust in supporting the program will be demonstrated to the appraisal, institute membership and public at large. Tertiary education trust fund (TETFUND) was established as an intervention agency under the education tax (amendment) act No. 40 of 1998, with project management to improbe the quality of education in Nigeria. To enable tertiary education trust fund (TETFUND) achieve the above objectives, Act No 7 of 1995 as amended imposes a 2 percent (2%) educational tax on the assemble profit of all register companies in Nigeria, the federal inland revenue service (FIRS) is empowered by the act to access and collect educational tax. The fund administrators the tax imposes by the act, and disburses the amount to educational institution at federal, state and local government level. It also monitors the project executed with funds allocated by the beneficiaries.
(1) (a) (g) Of act No 7 is to administer and disburse the amount in the federal, state and local government educational institutions including primary and secondary schools, for any other matter ancillary there to, but specifically to the followings.
Work centre prototype development
Staff development and conference attendance
Library system at different level of education
Research equipment procurement and maintenance
Higher educational books development fund
Redressing any imbalances reinforcement mix and between the higher education institutions.
Execution of the 9 years compulsory education institutioin tertiary education trust fund also ensures that fund generated from education tax is utilized in Nigeria without direct contract awarding by providing fund for education faculties and infrastructural development promoting creative and innovative approach to education learning and service stimulating support and enhancing improvement activities in educational foundation area teacher education, teaching practice library development etc.
1.2 Statement of the Problem
There are some problems associates with the delivery of (TETFUND) education trust fund to the beneficiaries which arose the interest of the researcher the researcher is also very optimistic that if these problems remain unsolved the end user of (TETFUND) project would continue to be at the receiving end.
One of the major problems observed by the researcher which informed the decision of carryout the research is that, when the tertiary education trust fund release money for educational project, the money is usually mismanagement which results to sub-standard project.
In most of the institution where (TETFUND) finance library projects, the library building are poorly constructed that some even collapse just one year after the project was completed.
The researcher also observed that there is no effective supervision is usually characterized with Windom dressing and observes corruption.
1.3 Objectives of the Study
Objectives of the study are;
To verify the contribution of tertiary.
Education trust fund to the development of education in Nigeria
To find out problems associated with project monitoring and supervision.
To brace the contribution of TETFUND to infrastructural development of kogi state polytechnic lokoja.
To suggest how the organization and supervision.
Finally, to present this research work as partial fulfillment of part of condition for the award of national diploma (ND) certificate in business administration and management studies of the federal polytechnic Idah, Kogi State.
1.4 Research Question
The essence of any research undertaking is to find solution to identified problems associated with tertiary educational trust fund (project) within Kogi state polytechnic Lokoja, the researcher with pose these research questions.
Does the tertiary education trust fund identifies project mostly need by beneficiaries?
Are the proved projects effectively supervised by the tertiary education trust fund?
Are the contractors handling the project, working according to contractual agreement?
When the contractor failed to execute project satisfactorily, is there any means of checking the?
Does the management of benefiting organization, give free hands to TETFUND officers to effectively supervise project?
When TETFUND approve fund for seminar and staff training, does this money actually get to the beneficiaries?
1.5 Significance of the Study
This research is very important in many ways. Firstly, student and educationalist will appreciate the previous and present efforts of the tertiary education trust fund in moving the educational sector award may organized and educational stakeholders will also realized the need to contribute to educational stakeholder just will also realize the need to contribute to educational development like TETFUND the board of trustee and the project managers in tertiary educational trust fund will see the need for effective project monitoring, so that fund (money) provided by this organization can be properly utilized for the purpose such is meant for our policy maker at both state and national level will also realize the need to make policy that more people can access to quality and affordable education.
