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Financial Model Of Viability Gap Fund : Case Study on Palembang - Indralaya Toll Road Project Eko Nur Surachman, Hadi Setiawan,
Jurnal Kajian Ekonomi dan Keuangan Vol 19, No 3 (2015)
Publisher : Badan kebijakan Fiskal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31685/kek.v19i3.142

Inadequate supply of infrastructure is number five of the most problematic factors for doing business in Indonesia. Therefore Government of Indonesia (GoI) continues to accelerate the development of infrastructure either in terms of financing, incentives, and especially through Public Private Partnership (PPP) scheme. One of the breakthroughs made by the government in the PPP scheme is by providing support in the form of cash funds for the construction cost of the project also called Viability Gap Fund (VGF), in order to make a project that was previously financially unviable to become financially viable. This study aims to describe about the possibility of VGF in accelerating infrastructure development through PPP scheme, as well as conduct a financial model to calculate whether VGF really can make a project financially viable with a case study on the Palembang - Indralaya Toll Road Project. Methodology used in this study is quantitative method with the financial analysis. IRR and NPV are used as main financial parameters to determine financial viability of the project. The research shows that VGF will make Palembang-Indralaya Toll Road Project become financially viable.

MUNICIPAL BONDS AS THE FINANCING STRATEGY FOR URBAN INFRASTRUCTURE : CASE STUDY OF JAKARTA MRT Eko Nur Surachman; Hadi Setiawan
Jurnal Keuangan dan Perbankan Vol 20, No 3 (2016): September 2016
Publisher : University of Merdeka Malang

The construction of Jakarta MRT Phase I has been carried out by using funds from foreign debt. Meanwhile, Jakarta MRT Phase II or other local infrastructure projects are still waiting for new funding scheme. One alternative is municipal bonds. This study investigate the possibilities of using municipal bonds to finance urban infrastructure project with the case study of Jakarta MRTPhase I. The analyzed use three perspectives including financial aspect, legal aspect, and Jakarta financial capacity aspect. financial analysis using discounted cash flow (DCF), net present value (NPV) and internal rate of return (IRR).Secondly, study literature is used in the legal analysis by exploring specific regulations regarding the municipal bonds. Finally, the Jakarta Regional Budget and Jakarta Budget Audit Report is examined to get insight and depth information regarding its financial capacity. The result is municipal bonds are feasible as the source of financing Jakarta MRT Project.

An Analysis of Village Fund Implementation in Central Java Province: An Institutional Theory Approach With a Modeling Institutional Aspect Eko Nur Surachman
Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara dan Kebijakan Publik Vol 5 No 3 (2020): Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara dan Kebijakan
Publisher : Direktorat Jenderal Perbendaharaan, Kementerian Keuangan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33105/itrev.v5i3.204

The implementation of the fiscal decentralization concept in Indonesia has completed with the issuance of the Village Law and Village Fund Program. Nevertheless, some problems arose in the application. This study aims to map the issues and to build a relationship model based on institutional theory, using content analysis and triangle approach interviews. The study concludes that the Village Fund is profoundly affected by the coercive element that is sourced from the authority of the government to regulate and supervise the program. The coercive then influence the normative in which the regulation frame and strict implementation lead to the difficulties to fulfill the administrative requirements. It then affects the cognitive element on how to make sustain and executable planning of the Village Fund Program, which leads to poor planning, so that difficult to be executed. As it is mandatory, the program is still run improvised that makes the output utilization was low.

State Asset Utilization to Support Public Private Partnership Project in Indonesia: A State Asset Management Review Surachman, Eko Nur
Ilomata International Journal of Management Vol. 5 No. 1 (2024): January 2024
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52728/ijjm.v5i1.1007

Public-Private Partnership (PPP) is one of the government strategies to provide infrastructure to serve the community. In the implementation process, PPP has challenges in land acquisition. In response to this challenge, the utilization of State Assets (Barang Milik Negara/BMN) in the form of land and buildings offers a prospective solution. To utilize the State Asset efficiently in the PPP scheme, the information on the asset should be updated based on the State Asset Management and Information System. This paper aims to describe the role of State Assets in supporting Public Private Partnership (PPP) projects in terms of achieving project financial feasibility using a particular study case and how to update the State Asset Management System. The methodology used in this paper uses qualitative methods with literature studies, focus group discussions (FGD), and interviews, to determine the intended role of State Assets. This paper shows that the existing asset management system has accommodated efforts to utilize state assets to support the PPP project. While from the information system point of view, the basic framework of the information system has been formed, the current project needs to be further developed referring to the basic framework of the information system so that it can effectively and efficiently support efforts to utilize state assets in PPP projects.

Edukasi Penilaian Kelayakan Keuangan Proyek Pengelolaan Sampah Untuk Non-Governmental Organizations (NGOs) Lingkungan Di Indonesia Surachman, Eko Nur; Handayani, Dian
Pengmasku Vol 2 No 2 (2022)
Publisher : PT WIM Solusi Prima

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54957/pengmasku.v2i2.306

Pengabdian kepada masyarakat (PKM) ini bertujuan untuk memberikan edukasi atas pengukuran kelayakan keuangan proyek pengelolaan sampah di Indonesia. Kegiatan ini diberikan oleh Tim PKM Politeknik Keuangan Negara STAN kepada Lembaga Swadaya Masyarakat (LSM) Lingkungan di Indonesia yang diselenggarakan Tahun 2021. Metode pelaksanaan kegiatan pengabdian kepada masyarakat terdiri dari tahap perencanaan, tahap, tahap pelaksanaan dan tahap evaluasi. Tahap perencanaan dilakukan dengan permintaan narasumber oleh perwakilan mitra, diskusi antara dengan Tim dan Mitra terkait dengan konsep acara dan materi yang akan disampaikan, dan penyusunan materi oleh Tim. Tahap kedua dilakukan dengan penyampaian materi oleh narasumber kepada peserta dan diskusi atas materi yang sudah disampaikan oleh narasumber kepada peserta. Tahap ketiga adalah evaluasi atas tingkat pemahaman peserta atas materi yang telah disampaikan. Kegiatan PKM ini memberikan manfaat bagi peserta yang sebagian besar berasal dari LSM Lingkungan di Indonesia, dalam memahami kelayakan keuangan proyek pengelolaan sampah di Indonesia. Selain itu, peserta diharapkan dapat mengidentifikasi faktor-faktor yang berpengaruh kepada kelayakan keuangan proyek pengelolaan sampah di Indonesia.

State Asset Utilization to Support Public Private Partnership Project in Indonesia: A State Asset Management Review Surachman, Eko Nur
Ilomata International Journal of Management Vol. 5 No. 1 (2024): January 2024
Publisher : Yayasan Ilomata

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52728/ijjm.v5i1.1007

Public-Private Partnership (PPP) is one of the government strategies to provide infrastructure to serve the community. In the implementation process, PPP has challenges in land acquisition. In response to this challenge, the utilization of State Assets (Barang Milik Negara/BMN) in the form of land and buildings offers a prospective solution. To utilize the State Asset efficiently in the PPP scheme, the information on the asset should be updated based on the State Asset Management and Information System. This paper aims to describe the role of State Assets in supporting Public Private Partnership (PPP) projects in terms of achieving project financial feasibility using a particular study case and how to update the State Asset Management System. The methodology used in this paper uses qualitative methods with literature studies, focus group discussions (FGD), and interviews, to determine the intended role of State Assets. This paper shows that the existing asset management system has accommodated efforts to utilize state assets to support the PPP project. While from the information system point of view, the basic framework of the information system has been formed, the current project needs to be further developed referring to the basic framework of the information system so that it can effectively and efficiently support efforts to utilize state assets in PPP projects.

Project’s cost-benefit analysis for social infrastucture in tertiary education sector with sharia financing and the interest of waqifs: an Indonesia perspective Surachman, Eko Nur; Mauliana, Afia; Yonimurwanto, Nugroho
Journal of Islamic Accounting and Finance Research Vol 6, No 1 (2024)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2024.6.1.18644

Purpose - This research was conducted to analyze how CWLS can be promising sources of infrastructure financing by presenting the benefit through the calculation of Cost-Benefit Analysis to the prospective waqifs.Method - This research used a mixed method: quantitative method using a Cost-Benefit Analysis (CBA) model by monetizing the costs and benefits of education infrastructure. CWLS is used as the source of financing to build it. Meanwhile, the qualitative method is conducted through focus group discussion to present and discuss the project benefit to the prospective waqifs.Result - The project delivered greater benefits in terms of positive NPV (IDR 937.437.495.257) and IRR (15,60%). The calculation attracts prospective waqifs that consider the non-monetary return in their investment, to invest in CWLS.Implication - The CWLS issuer should explain the greater benefits generated from the infrastructure financed by the CWLS to the prospective waqif. Cost-Benefit Analysis (CBA) is one of the tools to do it effectively.Originality - This study is one of a few studies exploring the CWLS instrument to finance public infrastructure, with its originality lying in the examination of the attractiveness of the CWLS to the prospective waqifs given the fact that the instrument offers zero profit in terms of financial return, but the beneficial reward from Allah SWT.

Laporan keuangan sebagai bentuk evaluasi kinerja UMKM: Pelatihan dan pendampingan penyusunan laporan keuangan di kota Tangerang Dinarjito, Agung; Surachman, Eko Nur; Arfiansyah, Zef
Pengmasku Vol 5 No 1 (2025)
Publisher : PT WIM Solusi Prima

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54957/pengmasku.v5i1.1306

Many Micro, Small and Medium Enterprises (MSMEs) have not realized the importance of preparing financial reports to start their business performance. By making financial reports, they will know whether they are making a profit or not. The purpose of this community service activity is to provide training on preparing financial reports and assist them in being able to prepare MSME financial reports in accordance with the Financial Accounting Standards for Micro, Small and Medium Entities (SAK EMKM). This activity was carried out in 2023 and was specifically in the Jatiuwung, Cibodas, Karawaci, and Pinang Districts. The results of this activity are that MSMEs understand the importance of preparing financial reports and calculating product costs and preparing financial reports using the assistance of the SiAPIK Application. This activity is a form of cooperation between the State Finance Polytechnic STAN and Bank Indonesia. Banyak Usaha Mikro, Kecil dan Menengah (UMKM) belum menyadari pentingya penyusunan laporan keuangan untuk mengevaluasi kinerja usahanya. Dengan UMKM membuat laporan keuangan, mereka dapat mengetahui kinerja keuangan baik dari sisi laba rugi, kekayaan usaha maupun arus kas usaha. Tujuan kegiatan pengabdian masyarakat ini adalah untuk memberikan pelatihan mengenai penyusunan laporan keuangan dan mendampingi mereka untuk dapat menyusun laporan keuangan UMKM sesuai dengan Standard Akuntansi Keuangan Entitas Mikro, Kecil dan Menengah (SAK EMKM). Kegiatan pengabdian masyarakat ini merupakan Kerjasama antara Dinas Perindustrian, Perdagangan, Koperasi, UKM Kota Tangerang, Bank Indonesia dan Politeknik Keuangan Negara STAN. Kegiatan ini dilaksanakan pada tahun 2023 dan dikhususkan di daerah Kecamatan Jatiuwung, Cibodas, Karawaci, dan Pinang. Program pengabdian masyarakat dilaksanakan melalui tiga tahapan, yaitu perencanaan, pelaksanaan, monitoring dan evaluasi. Tahap pelaksanaan kegiatan meliputi kegiatan pelatihan dan pendampingan laporan keuangan. Hasil kegiatan ini adalah UMKM memahami pentingnya penyusunan laporan keuangan dan penghitungan harga pokok produk serta tersusunnya laporan keuangan menggunakan bantuan Aplikasi SiAPIK.

Project’s cost-benefit analysis for social infrastucture in tertiary education sector with sharia financing and the interest of waqifs: an Indonesia perspective Surachman, Eko Nur; Mauliana, Afia; Yonimurwanto, Nugroho
Journal of Islamic Accounting and Finance Research Vol. 6 No. 1 (2024)
Publisher : Universitas Islam Negeri Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2024.6.1.18644

Purpose - This research was conducted to analyze how CWLS can be promising sources of infrastructure financing by presenting the benefit through the calculation of Cost-Benefit Analysis to the prospective waqifs.Method - This research used a mixed method: quantitative method using a Cost-Benefit Analysis (CBA) model by monetizing the costs and benefits of education infrastructure. CWLS is used as the source of financing to build it. Meanwhile, the qualitative method is conducted through focus group discussion to present and discuss the project benefit to the prospective waqifs.Result - The project delivered greater benefits in terms of positive NPV (IDR 937.437.495.257) and IRR (15,60%). The calculation attracts prospective waqifs that consider the non-monetary return in their investment, to invest in CWLS.Implication - The CWLS issuer should explain the greater benefits generated from the infrastructure financed by the CWLS to the prospective waqif. Cost-Benefit Analysis (CBA) is one of the tools to do it effectively.Originality - This study is one of a few studies exploring the CWLS instrument to finance public infrastructure, with its originality lying in the examination of the attractiveness of the CWLS to the prospective waqifs given the fact that the instrument offers zero profit in terms of financial return, but the beneficial reward from Allah SWT.

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