| Summary: | Implementation of deficit budget policy in the state budget must be covered
by the financing. Condition of non-debt financing becomes more scarcely, making
debt financing as the main source of financing. The fact indicates that at the end
of the fiscal year 2008-2010, leaving the fund SiLPA. The existence of SiLPA
funds in implementing of state budget indicates a problem in the management of
state finances, especially the lack of coordination between cash and debt
management. This study aims to examine and improve the financial management
of government particularly the relationship between cash and debt management.
This research was conducted in DJPB and DJPU, the Ministry of Finance,
which has the main tasks and functions in cash and debt management. This
research use descriptive research method. The study was conducted by analysis
which focuses on the underlying motives of holding cash, namely (1) transactions
motive, (2) precaution motive, and (3) speculation motive. This was done because
SiLPA funds represent cash comes largely from the proceeds of debt.
Furthermore, it is done an analysis of efficiency and effectiveness with the funds
SiLPA and the presentation of the proposed model coordination between cash
management with debt.
The research concludes that funding for the transaction motive for showing
the excess, for precaution motives show the level of accuracy in the planning of
cash to the average is still below 95%, and for the speculative motive is still not
done because it has not completed the legal rule. Also, found the fact that there
has been conflict between the managers managing the debt as cash with the
statement Pattanayak (2008). Directly, the existence of the state budget funds in
implementing SiLPA current budget year will increase risk in debt management,
particularly the refinancing risk and interest rates.
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