PINJAMAN DAERAH SEBAGAI ALTERNATIF TERAKHIR PEMBIAYAAN PEMBANGUNAN DAERAH (Studi Kasus Pada Pemerintah Kabupaten Mukomuko)

This research is aimed to analyze financial ability of Government of Mukomuko
Regency in borrowing and to elicit the maximum limit allowed and to analyze
balance sheet’s financial ratio of Mukomuko Regency. Data used in this research is
time series as secondary data which is realization of Local Government Budget
(LGB) Estimation of Mukomuko Regency during 2006-2011 consists of Regional
Income (RI), Sharing Profit Fund (SPF), Reboisation Sharing Profit Fund (RSPF),
Public Allocation Fund (PAF), Fixed Expenditure consists of employees wage and
Local House of Representative (LHR) wage and Regional Balance Sheet during
2010-2011 gathered from Local Financial Supervisory Board (LFSB) of Mukomuko
Regency .
This research uses Debt Service Coverage Ratio (DSCR) as a tool according to
Government Regulation No. 30 / 2011 to elicit qualification of government in
borrowing. Moreover, Borrowing Maximum Limit (BML) is also used to analyze the
extent of maximum borrowing allowed. Minimum DSCR value allowed is 2.5 point.
Condition BML value doesn’t exceed 75% of general revenue of the previous year.
The last analysis tool is financial ratio analysis by using liquidity ratio, solvability
ratio and debt ratio toward equity from comparison of accounts in regional balance
sheet.
The result indicates that along 2010-2011, contributor of LGB of Mukomuko
Regency comes from PAF instead of RI. The existence of PAF causing Government
of Mukomuko Regency to have relatively high net fund and available to pay primary
payment and other liability followed. DSCR and BML value of Government of
Mukomukoi Regency has fulfilled regulated standard. Financial ratio analysis shows
that the region has the ability in completing its liability with its assets owned, either
the short term ones or the long term ones.