Value for Money Analysis in Financial Performance Measurement in the Tana Tidung Regency Local Government for 2018-2022
Keywords:
Financial Perfomance, Economic Ratio, Efficiency, effectivenessAbstract
This research aimed to analyze the financial performance of the local government of Tana Tidung Regency from 2018 to 2022 using the concept of Value For Money based on Economic Ratio, Efficiency Ratio, and Effectiveness Ratio. Utilizing a quantitative descriptive method, this research was conducted within the Department of Industry, Trade, Cooperatives, and SMEs of Tana Tidung Regency. Data collection was accomplished through a purposive sampling technique, focusing on the Budget Realization Report and the Performance Accountability Report from government agencies. The calculations were based on formulas of (1) Economic Ratio, (2) Efficiency Ratio, and (3) Effectiveness Ratio. The findings revealed that the financial performance of the Department of Industry, Trade, Cooperatives, and SMEs of Tana Tidung Regency during 2018-2022 demonstrated the following: (1) Economic Ratio exhibited fairly economic criteria, notwithstanding fluctuations, (2) Efficiency Ratio consistently demonstrated fairly efficient criteria throughout each year, and (3) Effectiveness Ratio consistently met fairly effective criteria annually.
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