The impact of Covid-19 on a higher education institution's
revenue/expenditure (financing) stability: a case study of the University
of Zululand
Assessing the Viability of the University of Zululand in the Wake of Covid19: An Examination of Revenue and Expenditure Impacts on Higher
Education Institutions
By
MAZIKO BABALWA
Student No: 216074862
Email: Babes4mhinto@gmail.com
Cell phone: 0784333507
A mini-dissertation submitted in the partial fulfilment of the requirements for the
degree
Of
Master of Commerce in Accounting (MCOM-A)
At
UNIVERSITY OF KWAZULU NATAL
SUPERVISOR: (Mr Rudolf Mbanjwa CA (SA), RA; Prof Bomi Nomlala; Ms Siphumelele
Balungile Dlungwane)
26 April 2023
Table of Contents
CHAPTER ONE: INTRODUCTION AND BACKGROUND ............................................. 1
1.1.INTRODUCTION ............................................................................................. 1
1.2.BACKGROUND................................................................................................ 2
1.3. PROBLEM STATEMENT .................................................................................. 2
1.4. AIM OF THE STUDY....................................................................................... 3
1.5. OBJECTIVES OF THE STUDY .......................................................................... 4
1.6. RESEARCH QUESTIONS ................................................................................. 4
1.7. SIGNIFICANCE OF THE STUDY ...................................................................... 4
1.8. SCOPE OF THE STUDY .................................................................................. 5
1.9. LITERATURE REVIEW .................................................................................... 5
1.9.1. THEORETICAL FRAMEWORK ....................................................................... 5
1.9.2. EMPIRICAL LITERATURE............................................................................ 6
1.10. RESEARCH METHODOLOGY AND DESIGN ................................................... 6
1.10.1. Research Philosophy ................................................................................. 7
1.10.2. Research Strategy .................................................................................... 7
1.11. RESEARCH DESIGN ..................................................................................... 7
1.11.1.Sample selection........................................................................................ 7
1.11.2. Sampling Technique ................................................................................. 8
1.11.3. Data collection methods ............................................................................ 8
1.11.4. Data collection instrument ......................................................................... 9
1.11.5. Secondary Data Collection ......................................................................... 9
1.11.6. Primary Data Collection ........................................................................... 10
1.12. DATA COLLECTION TECHNIQUE ................................................................ 10
1.13. Data analysis ............................................................................................ 10
1.14. Ethical considerations and confidentiality ................................................... 11
1.14.1. Permission for inclusion as participants .................................................... 11
1.14.2. Anonymity .............................................................................................. 11
1.14.3. Confident ............................................................................................... 11
1.14.4. Rights of participants .............................................................................. 11
1.14.5. Informed consent ................................................................................... 12
1.15.VALIDITY AND RELIABILITY OF DATA ......................................................... 12
i
1.16. CONCLUSION ............................................................................................ 13
1.17.REFERENCES.............................................................................................. 14
ii
CHAPTER ONE: INTRODUCTION AND BACKGROUND
1.1.
INTRODUCTION
The COVID-19 pandemic has been devastating to higher education and many families
have been wiped out, and health and society will continue to suffer as a result of the
pandemic. Millions of businesses, households, and educational institutions have also
been impacted by the pandemic, with many never fully recovering. The economic toll
that the pandemic is taking on universities is greater now than it was before. However,
lockdowns are required in some situations, but the longer they go on, the more
damage is done to the economy and the longer it takes to get back on track Onyeaka,
Amunudu, Al-sharify and Egele-Godswill (2021). Higher education (HE) was severely
impacted by the pandemic and the universities have suffered significant financial
losses from housing, conferences, and events (Makananisa, 2020). A large number of
local and international students postponing their decision to seek a higher education
certificate would threaten every university's primary income streams even if some
face-to-face or widespread online service were possible in September 2020 (Fjeldstad
& Therkildsen, 2020).
Higher education's positive effects on economic and social mobility are well
documented and the disparities in earnings and quality of life that exist on the basis
of race/ethnicity, educational attainment, and family income can be mitigated through
furthering one's education (Pusca & Northwood, 2020). This implies that public higher
education finance had been threatened by the Corona virus epidemic, which has
reduced economic activity and increased state spending. In support of this argument,
Datta (2021) contends that South Africa's higher education sector has been put under
tremendous financial strain as a result of the country's rapid response to the COVID19 outbreak. As a result, the goal of this research is to ascertain whether or not Covid19 has threatened the financial security of the University of Zululand. It will analyse
how the epidemic might change the school budgets and suggest changes to the
legislation. Finally, it will look at strategies to cut costs while still meeting needs during
the COVID-19 pandemic
1
1.2.
BACKGROUND
The Covid-19 pandemic has had a profound impact on various sectors of the global
economy, including the higher education sector. Universities worldwide have faced
unprecedented challenges due to the pandemic, such as the rapid shift to online
learning, closures of campuses, and a decrease in international student enrollment.
The president of South Africa declared a state of disaster in 2020 March due to the
pandemic Covid-19, and the Department of Higher Education & Training called on all
the universities to scale back their normal operations that were based on contact
classes and other activities. These challenges have significantly affected the revenue
and expenditure stability of higher education institutions. This study aims to analyze
the impact of Covid-19 on the financing stability of the University of Zululand, a public
university located in the KwaZulu-Natal province of South Africa.
The University of Zululand, established in 1960, is a comprehensive tertiary institution
catering to a diverse student population, offering undergraduate and postgraduate
programs in various fields. The university has played a crucial role in the region,
providing access to higher education for many students from disadvantaged
backgrounds. Before the Covid-19 pandemic, the university faced several challenges,
such as limited resources, inadequate infrastructure, and a growing student
population. The pandemic has exacerbated these issues, placing additional pressure
on the institution's finances.
Areas to be explored in this study include revenue generation, expenditure, financial
stability, adaptation strategies and resilience. This study will also examine the
adaptation strategies implemented by the University of Zululand in response to the
pandemic, such as online learning, cost-saving measures, and resource allocation. The
analysis will help understand the university's resilience and capacity to withstand
external shocks, such as Covid-19.
1.3.
PROBLEM STATEMENT
The emergency of the pandemic caused University to spend on unbudgeted items
which resulted to irregular expenditure to accommodate and mitigate the operation’s
2
needs. To quantify the loss of income suffered, irregular expenditure on equipment
was sourced to accommodate online teaching and trainings and other remote
University operations. The unfolding of the COVID-19 pandemic in South Africa is
interwoven into an existing socioeconomic context ridden with poverty and
unsustainable inequalities. Deep inequalities amongst institutions and within
institutions continue unabated more than a quarter of a century since the democratic
transition.
The pandemic has resulted in decreased revenue and increased expenditure for many
universities, leading to substantial changes in their revenue and expenditure patterns.
The shift to remote learning, combined with the economic consequences of the
pandemic, has placed significant financial pressure on universities, including the
University of Zululand in South Africa. This study aims to investigate the impact of
Covid-19 on the revenue and expenditure stability of higher education institutions,
with a focus on the University of Zululand as a case study. The research will assess
the financial viability of the institution in the wake of the pandemic, identifying
potential challenges and opportunities for maintaining financial sustainability.
To investigate the impact of the Covid-19 pandemic on the revenue and expenditure
patterns of the University of Zululand, and to assess the implications of these changes
on the institution's financial stability.
By addressing these research questions, this study aims to provide a comprehensive
understanding of the financial challenges and opportunities faced by the University of
Zululand during the Covid-19 pandemic. The findings may offer valuable insights for
other higher education institutions and policymakers to develop strategies for
enhancing financial stability and resilience in the face of future crises.
1.4.
AIM OF THE STUDY
Premised on the stated statement of the problem, this study seeks to explore the
impact of covid -19 on the University of Zululand’s revenue/expenditure stability
3
potential mitigating strategies and university budgeting guidelines to regain its
financial strength.
1.5.
OBJECTIVES OF THE STUDY
The main objective of the study is to explore the impact of covid -19 on Unizulu
revenue/Expenditure and potential mitigating strategies university budgeting
guidelines to mitigate its financial strength.
Sub-Objectives:

To Examine and identify the extent of evidence on the negative impact that the
pandemic is likely to have on education financing.

To explore the potential mitigating strategies and university budgeting
guidelines to regain its financial strength.

1.6.

To identify responses to mitigate this impact.
RESEARCH QUESTIONS
What
is
the
impact
of
COVID
-19
on
the
University
of
Zululand’s
revenue/expenditure stability?

What negative impact that the pandemic likely to have on education financing?

What could be the potential mitigating strategies and university budgeting
guidelines to regain its financial strength?

What are the policy responses to mitigate this impact?
1.7.
SIGNIFICANCE OF THE STUDY
This research is crucial to the advancement of accounting science because it will lead
to a solution to a problem that is currently threatening the financial security of
universities everywhere. This study will also aid the academic community because it
will help fill a vacuum in existing information on the topic. A key goal for many
educational institutions, consistent university revenue makes it simpler to sustain
stable university operations and a balanced budget (Yan, 2021). The findings of this
research will help identify issues with university budgeting and suggest ways forward.
4
The study's findings will ensure that the university's budget is strictly adhered to and
that no significant funds are wasted on non-essential goods. With the results of this
research in hand, university administration can rest assured that their budgets are
being spent wisely. Moreover, they will have the information they need to stay abreast
of any and all developments pertaining to the generation of income for their
institutions.
1.8.
SCOPE OF THE STUDY
According to Akanle, Ademuson and Shittu (2020) , the scope of the study is a portion
of a research proposal in which a researcher states clearly the research area,
population, and study area covered in the study. This is done to show that the
researcher is aware of the context in which the research is being conducted within the
academic community. This research is only conducted at higher education institutions,
with a focus on the University of Zululand in particular. The study will involve a
comprehensive analysis of the financial and operational impacts of the pandemic on
the University of Zululand, with a focus of identifying the key factors that contributed
to its revenue/expenditure stability or instability during this period. This analysis will
include examining the sources of revenue for the university, such as tuition, grants,
donations, and government funding, as well as the institution's expenditures, such as
salaries, facilities maintenance, and other operating costs. Citation
1.9. LITERATURE REVIEW
A literature review is belied to highlight the core factors to be studied as well as
identifying possible gaps to be filled between previous similar studies and the current
study (Cohen, Manion & Morriison, 2011). Maziriri and Chinomona (2017) argue that
a literature review helps in sharing the research findings from other researchers with
similar interests to the study at hand and filling the identified gaps. This section deals
with Theoretical framework and Empirical literature.
1.9.1. THEORETICAL FRAMEWORK
5
The Covid-19 pandemic has had a significant impact on the higher education sector
worldwide, and the University of Zululand in South Africa has not been immune to
these effects. The pandemic has disrupted the normal functioning of institutions,
resulting in unexpected financial challenges. This case study aims to explore the
impact of Covid-19 on the University of Zululand's revenue/expenditure stability.
(citation)
The theoretical framework for this case study will draw on multiple concepts and
theories to help explain the impact of Covid-19 on the University of Zululand's
revenue/expenditure stability. Thus, the review of the literature is structured around
the following theories: Institutional theory, Crisis management theory and Resource
dependency theory.
Institutional theory:
Crisis management theory:
Resource dependency theory:
1.9.2. EMPIRICAL LITERATURE
This section will focus on reviewing the empirical literature on research variables.
To Examine the negative impact that the pandemic is likely to have on education
financing.
To explore the potential mitigating strategies and university budgeting guidelines
To regain its financial strength.
To identify responses to mitigate this impact.
1.10. RESEARCH METHODOLOGY AND DESIGN
6
1.10.1.
Research Philosophy
This study will adhere to pragmatic paradigm, which according to Kelly and Cordeiro
(2020) is a philosophical perspective that emphasizes the practicality of knowledge
and the importance of taking action to solve problems. In this mixed method research,
the pragmatism approach will be used because it allows the researcher to combine
both qualitative and quantitative methods to collect and analyze data in a way that is
most practical and useful for addressing the research questions, as it allows flexibility,
contextualization, and triangulation of data.
1.10.2.
Research Strategy
According to Akthar (2021), the study's design reflects the researcher's thoughts and
serves to alleviate frustration by providing a coherent framework for conducting the
research and outlining how the various components will work together to answer the
study's central question. To explore the impact of covid -19 on Unizulu
revenue/Expenditure and potential mitigating strategies university budgeting
guidelines to mitigate its financial strength, this study will adopt a Mixed methods
approach, which according to ( )
.The quantitative strand of the explanatory
sequential design entails the collection and analysis of numerical data, whereas the
qualitative strand entails the collection and analysis of textual data (Mccrudden &
Sparks, 2021). This research design will help the researcher provide context for
numerical findings through the use of narrative data.
1.11. RESEARCH DESIGN
1.11.1.
Sample selection
Siamah, Mensah and Oteng-Abayie (2020) refers to the target population as the group
of people who will be the focus of the study's investigation and findings. Alternatively,
Asiamah (2017) anticipates that the community at large would be used as a source of
individuals who can best share their experiences and thoughts based on the selection
criteria. Finding people to participate in focus groups who are likely to have had
7
significant experiences that are directly relevant to the study's aims is in the
researcher's best interest.
The dean of the Accounting Department's faculty, department chairs, directors, and
other university officials to whom funds are allocated and who are responsible for
reviewing the expense transactions and monthly expenditure/operating statements
are the population of interest for this study.
1.11.2. Sampling Technique
As explained by Berg, Boyd, Byron, Gove, and Ketchen (2022), Sampling methods
can be broken down into two broad categories, probability sampling and nonprobability sampling, based on how they pick their samples. For this reason,
researchers often employ sampling strategies to reduce the total number of instances
rather than analysing the entire population. Showkat (2017) states that a sampling
method's goal is to make it easier to pick units to include in a study's sample. Statistical
analysis requires a representative sample of the population at large. For extra-sample
application of study results, this is essential (Taherdoost, 2016).
Quota sampling, which will be used in this study, is a non-probability sampling method
in which researchers create a convenience sample consisting of individuals who are
meant to be representative of the population at large (Nikolopoulous, 2022).
Nikolopoulous further argues that researchers select participants based on these
attributes or qualities in this type of sampling method. In addition to helping
researchers find strata within a population and estimate how many people to recruit
from each stratum, quota sampling can shed light on a population's distribution of a
certain feature.
1.11.3. Data collection methods
The data collection phase of a research project is crucial since it is during this time
that the researcher collects information from the study population in order to address
8
the most significant research issues (Andish, et al., 2013). In order to draw valid
conclusions about the phenomenon being studied, researchers must collect enough
evidence for in-depth statistical analysis (Kabir, 2022).
The research methodology for this study will be a mixed method research. The results
of a study benefit more from the validity and dependability of this approach of data
gathering (Hafsa, 2019). Researchers using this strategy will first conduct the study's
quantitative inquiry, analyse the results, and then provide a more in-depth explanation
of the findings with the use of qualitative data (Dawadi, 2021). In this approach to
data collection, quantitative findings are contextualized with qualitative information
obtained afterwards (Dawadi, 2021). This implies thar the preliminary quantitative
step is followed by the qualitative stage, hence the name sequential for this design.
In research with high quantitative alignment, this method is generally accepted.
1.11.4. Data collection instrument
The researcher will collect the primary data through conducting unstructured
interviews as well as record reviews in order to accomplish the goals of the study.
Respondents will have the chance to elaborate at length while communicating in their
native tongue as a result of this. As a consequence of this, the researcher will be in a
position to acquire a more precise image of the respondent's perspective on the
occurrence as a result of their efforts.
1.11.4. Secondary Data Collection
According to Serra, Martins, and Cunha (2018), secondary data includes any and all
data sets that were not collected by the author. It could also be based on someone
else's examination of data, which could include material that has already been
obtained but could be repurposed for different inquiries. According to Johnston (2014),
reusing data sets eliminates or greatly reduces the need for time-consuming tasks like
measurement construction and data gathering, hence speeding up the research
process. This research will explore the impact of COVID-19 on universities by
9
consulting secondary sources such books, book chapters, academic journals, Theses
and dissertations, websites, and online documents.
1.11.5. Primary Data Collection
In research, "primary data" refers to material gleaned by the researcher from
unpublished first-hand accounts. Results from primary sources may be more reliable,
original, and objective, leading to more convincing conclusions (Akanbi & Adentunji,
2020). primary data is defined as information that has not been modified from its
original form and was obtained directly from the point of origin during the investigation
to (Noble & Heale, 2019). The primary data for this study will be gathered through a
combination of in-depth, unstructured interviews and record reviews. This will allow
them to express themselves in depth and in their own tongue. The researcher will get
a clearer understanding of the situation from the respondent's point of view.
1.12. DATA COLLECTION TECHNIQUE
A fully structured self-administered questionnaire has been deemed the most suitable
data collection tool to use. Primary data will be collected with the help of three
assistants to speed up the process and for a positive response rate. The advantage of
a questionnaire is that it reduces costs and anonymity is guaranteed (McCombes,
2020).
1.13. DATA ANALYSIS
As outlined by Musfata and Robillos (2020), the process of giving order, structure, and
relevance to the vast amounts of acquired data is both ingenious and time efficient.
In order to make decisions based on the analysis of data, Msfata and Robillos argue
that it is necessary to first clean, transform, and model the data. Mixed analysis will
be employed within the same overarching framework that will be led either a priori, a
posteriori, or iteratively for this study. This type of data analysis will illuminate the
nature of the issue and produce more thorough proof (Onwuegbuzie & Coms, 2021).
When qualitative and quantitative data are combined, the researcher can acquire both
10
the specific, in-depth understanding provided by the former and the more broad,
broadly applicable understanding provided by the latter (Scherman, et al., 2020).
1.14. ETHICAL CONSIDERATIONS AND CONFIDENTIALITY
Ethics is defined as the study of right and wrong, as well as moral obligations and
responsibilities (Mazigo & Hattingh, 2020). According to Warren, Gaspar, and Laufer
(2014), research ethics also includes educating and keeping tabs on researchers to
make sure they stick to a high ethical standard while conducting their studies.
Respondents selected for this study constitute human subjects research, and as such,
must be protected in accordance with the following ethical standards:
1.14.1. Permission for inclusion as participants
Before agreeing to take part in the study, the researcher will get permission from the
Faculty Board, get a letter from the Faculty Board granting approval, and get written
informed consent from each participant.
1.14.2. Anonymity
The researcher will take measures to ensure that the participants are able to maintain
their anonymity, which means that their names and other information will not be made
public.
1.14.3. Confident
The participants shall have the fundamental right to privacy protected at all times, and
the confidentiality of their information will be ensured at all times.
1.14.4. Rights of participants
11
Participants will be made aware of their rights to voluntarily consent to the study,
decline to participate, and withdraw from the study at any time without incurring any
penalties.
1.14.5. Informed consent
The participants will be given information regarding the goal of the study, giving them
the opportunity to choose whether or not they would like to take part.
1.15. VALIDITY AND RELIABILITY OF DATA
Validity considers whether or not the observable measures truly represent the notion
at hand, or whether or not they instead represent something different. Therefore, it
is essential to consider potential threats to validity and formulate measures to counter
them. The data collecting instrument must be interpreted in such a way as to capture
reliable data necessary to answer the research questions as nearly as feasible
(Taherdoost, 2016). This will be done so that reliable data can be gathered. The
researcher can then use this information to pinpoint any questions that still need
clarification.
The goal of any study should be met with the support of accurate data, and this is
what good research instruments are designed to do. According to Straus (2017),
validity is established when tests yield the same results when administered to the
same group of participants under controlled conditions. Target participants will be
carefully monitored to prevent any tainting of the data. The researcher will keep all
information confidential and will not share it with the subjects.
12
1.16. CONCLUSION
In this chapter, the problem or phenomena that is the subject of the study is
introduced, the breadth of the phenomenon is investigated, and objectives for the
study are outlined. It gives an explanation of the environment in which the study is
conducted. This study shows that the COVID-19 lockdown required educational
institutions to move all of their classes to an online format, and practically all
educational institutions, including universities and colleges, will continue to do so.
Because of the unexpected shock that COVID-19 generated, there is a great deal of
confusion in both the human and economic spheres. As a result, the majority of higher
education institutions have had to make unplanned and unbudgeted expenditures in
order to fulfil their mission of providing students with a high-quality education. Overall,
the COVID-19 pandemic has had far-reaching repercussions on the world and has
placed a significant strain on the higher education institutions of a variety of countries.
It will therefore require concentrated and determined efforts to re-establish the
financial stability in higher education institutions.
13
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