<![CDATA[This study aims to analyze the financial performance of the Public Service Agency (Badan Layanan Umum/BLU) of Politeknik Negeri Jakarta (PNJ) during the period 2021 to 2024 using the financial perspective of the Balanced Scorecard (BSC) framework. A descriptive quantitative method was employed, with data sourced from secondary numerical records of PNJ's BLU financial reports. The analysis covered four main indicators: (1) liquidity, measured by the current ratio and cash optimization ratio; (2) efficiency, measured by the Operational Revenue to Operational Expense (POBO) ratio; (3) effectiveness, measured by return on assets and return on equity; and (4) financial independence, measured by the dependency ratio on State Budget (APBN) allocations. Results indicate a dynamic financial performance trajectory: 2021 recorded the lowest point with operational deficit and high APBN dependency, followed by significant recovery in 2022 continuing through 2024. The current ratio improved from 3.31 (2021) to 8.86 (2024), the independence ratio grew from 46.87% to 56.65%, while the POBO ratio, although declining from its peak of 158.80 (2022), remained above 100 at 102.90 (2024). This study concludes that BLU PNJ is in a sufficiently healthy financial condition but in a consolidation phase, with key challenges being declining profitability and the need for more productive asset optimization.]]>
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