KELAYAKAN INVESTASI RENOVASI PASAR KAMPUNG BUKIT DI KOTA PANGKALPINANG

Mohamad Makrus, Prof. Dr. Abdul Halim, M.B.A.

2011 | Tesis | S2 Ilmu Akuntansi/Akuntansi Terapan

Dampak sistem desentralisasi adalah pemerintah daerah berkewajiban dan bertanggungjawab untuk mengurus dan mengelola sumber daya daerahnya sendiri termasuk keuangan daerah yang salah satunya kegiatan investasi. Tujuan utama pemerintah daerah melaksanakan investasi adalah untuk memberikan pelayanan kepada masyarakat. Keputusan investasi tersebut seharusnya melalui suatu analisis kelayakan yang diharapkan dapat membantu dalam pengambilan keputusan oleh pemerintah daerah. Alat analisis yang digunakan sektor privat bisa digunakan untuk menganalisis kelayakan investasi di sektor publik, terutama untuk aspek finansial. Alat analisis kelayakan investasi sektor publik yang sering digunakan seperti metode net present value (NPV), internal rate of return (IRR), net present benefit (NPB), benefit cost ratio (BCR), dan cost effectiveness analysis (CEA). Terkait dengan kelayakan usulan renovasi Pasar Kampung Bukit di Pangkalpinang, maka penilaian kelayakan investasi tersebut bisa dilihat dari aspek finansial dan aspek sosialnya. Adapun alat-alat analisis kelayakan yang digunakan seperti tersebut di atas. Hasil perhitungan net present value (NPV) dan internal rate of return (IRR) renovasi Pasar Kampung Bukit tidak layak dilaksanakan. Metode NPV dan IRR tersebut hanya menghitung dari aspek finansial. Sedangkan hasil perhitungan net present benefit (NPB), benefit cost ratio (BCR), dan cost effectiveness analysis (CEA) mengahasilkan bahwa renovasi Pasar Kampung Bukit layak dilaksanakan. Dalam Perhitungan metode NPB, BCR, dan CEA selain memasukan aspek fiansial juga memasukan aspek sosial.

The impact of decentralization is that local government has the obligation and responsibility to maintain and manage its own resources, including local finance which one of them is investment. The main purpose of local government in providing investment is to serve people. The investment decision making should be conducted through feasibility analysis, which is expected to be helpful to assist local government in decision making. Analysis tools used in private sectors might be used to analyze investment feasibility in public sector, particularly in terms of its financial aspect. Analysis tools for investment feasibility that is commonly used in public sector include net present value (NPV), internal rate of return (IRR), net present benefit (NPB), benefit cost ration (BCR), and cost effectiveness analysis (CEA) methods. The feasibility of renovation proposal for Kampung Bukit Market in Pangkalpinang need to be evaluated in terms of both financial and social aspects as well. Moreover, analysis tools used for this was similar to that described previously. The analysis result showed net present value (NPV) and internal rate of return (IRR) analysis, indicating that the renovation for Kampung Bukit Market was infeasible to be undertaken. Both NPV and IRR methods only measured financial aspect. However, the results of net present benefit (NPB), benefit cost ratio (BCR) and cost effectiveness analysis (CEA) methods showed that the renovation of Kampung Bukit Market was feasible. In addition to rely on the financial aspect, NPB, BCR and CEA methods also included social aspect in analyzing the investment feasibility.

Kata Kunci : Investasi di sektor publik, alat-alat analisis kelayakan: NPV, IRR, NPB, BCR, CEA.