Effectivity and Efficiency of Regional Property Management Results and Financial Performance

The purpose of this research to determine the level of efficiency and results that reflect the performance and financial performance of BUMD in Semarang City, period 2014-2016. The type of data used is secondary data, using data analysis through DEA analysis and interview method. The results showed that PDAMs and RPH & BPH in 2014 still met the level, with a value of 82.4% and 62.6%. In 2015, as a whole, BUMD has achieved the value of efficiency and effectiveness. In 2016 RPH & BPH companies have not been able to reach the level of 8.1%. The level of appeal in the 2014 and 2015 BPR BKK will jointly achieve a joint achievement level of 89.5% and 93.8%. Using a comprehensive annual calculation of BUMD has reached the level of effectiveness with a value of 100%.


INTRODUCTION
Along with the enactment of regional autonomy on January 1, 2001, the regional government aggressively carried out the development and improvement of regional quality in all fields. With the issuance of regional autonomy according to UU No 32 of 2004 about Regional Government and UU No 33 of 2004, about the financial balance between the regions and the center, giving consequences to the regions concerned to carry out pensions in some aspects requires the regional government to take care of all regional needs. independently one of them is Regional Finance: before and after Autonomy Regional authority in running its government during the New Order period is based on the Law. No. 5/1974. Besides regulating regional government, the Act also explains the financial relationship between the central government and local government (Suseno, 2013) which is included in the Regional Original Revenue.
Regional Original Revenue is divided into four regional income results namely. Income from tax revenue, income from acquisition of levies, results of management of separated assets, and other income. Position of income from the management of separated regional assets is obtained after tax revenue and retribution on PAD Semarang City. Following are the Semarang City PAD reports for 2014-2016. In the PAD Realization table explains that Regional Tax Revenue has the highest position, where the realization in 2016 there was an increase in value. In the table above, it is explained that the overall income, namely income from taxes, retributions, profits from BUMD profits and other legitimate income, has increased, but for the Income of Regional Wealth Management Results which are separated from profits BUMD only contribute ten percent to Original Income Area.
Semarang has six companies engaged in agriculture, livestock, printing and credit. Each regional company has the ability to suit their fields to deposit profits after the regional development funds. The income from the management of separate regional assets together with the names of registered regional companies can be seen in table 2 attached.  Based on the table data above the data  used is Rp51,979,633,000.00 realized amounting to Rp19,031,355,630.00 or 36.61%.
Compared to the realization of the 2015 fiscal year of Rp. 13,408,979,748.00, the progress of the increase was Rp. 5,622,375,882.00. This increase is in accordance with the profits obtained by the Bank of Central Java, Perusda RPH and BPH, Perusda Percetakan, Perusda Bank Pasar, Perusda regional BPR / BKK, while those not realized are PDAM Tirta Moedal. Some indicators are used to measure the total amount of assets and liabilities, profits derived from development funds, operating and operational income. In accordance with Regional Government Regulation Number 10 of 2014, there are three companies seeking assistance, namely PDAM Tirta Moedal, BPR BKK Semarang City, and Perusda RPH BPH. The table above explains the financial performance from three regional companies, namely PDAM, BPR BKK, and Perusda RPH & BPH. The PDAM company has the greatest total assets among BPRs and RPHs because the PDAM has an important role in producing water throughout the City of Semarang. Meanwhile for BKK BPR there is an increase in demand for credit by the public. In the RPH & BPH regulations due to the lack of income for slaughterhouses the company's total assets decreased. This condition is one of the burdens for the Government, because the realized income tends to decrease from the budget set by the government. So what is the objective of the establishment of BUMD is as a source of local government revenue has not been achieved.

RESEARCH METHODS
This study discusses the financial performance of BUMD which causes the nonrealization of revenue from the Wealth Management Results that are separated which are determined by the Semarang City Government. The analytical method used is a quantitative method with a percentage descriptive approach.
As for descriptive understanding According to Wahyudin (2015) is a method that serves to describe or give an overview of the object under study through data that has been collected as it is. Descriptive research is used to determine how deep the influence of the financial performance of regional companies in contributing profits to be included in the income from the results of wealth management separated in the city of Semarang.
This study uses Primary data and secondary data. Where primary data is data obtained directly in the field from the respondent or resource person such as interviews. Furthermore, the data will be processed by the author. In this study the data that the author uses as primary data is an interview to the resource persons in the financial sector of the company. Whereas Secondary Data is data obtained from Regional Companies in the form of Financial Reports (Balance Sheet and Profit and Loss Reports) and data on the development of the BUMD of Semarang City.
Data other than financial statements, namely data on the records of the Semarang City financial statements (CALK) that have been presented or published that are needed by the researcher, which relate to the research under study is documentation consisting of tables, and archives. The population of this study includes 6 BUMD companies. The following is data about BUMD / regional companies in the city of Semarang.
The sampling technique in this study was purposive sampling. Purposive sampling is intended because the researcher has a purpose to find out the cause of the discrepancy between the financial performance of the company and the addition of realized revenue from the management of the separated regional assets which has been determined by the Semarang City government.
Tabel 4. Regional Companies Or BUMD di Semarang City The input accumulation process can be described as follows: Em is a efektivity of Results of Management of Wealth of Separated Areas. yjm is output companies. vjm is bigger of output. xim is input companies. uim is bigger of input. yjn dan xin is output companies dan input companies for all DMU ke-n, n = 1,2,...,N. And m is the pieces of n.
The results of these calculations are presented in the form of bar charts. Next the researcher will interpret the diagram descriptively and be linked to the relevant theory to get a conclusion.

Level of Efficiency and Effectiveness of Regionally Owned Enterprises (BUMD) in Semarang City Year 2014
Semarang City BUMD whose efficiency level has been efficiency in accordance with the variables (Total Assets, Equity, Profit After Tax, Dividends to Government, and Capital) in 2014. With the results of data management using the estimation analysis tool Banxia Frontier Analysis 3.0 shows that the BPR BKK Company has an efficiency value of 1 or 100%.
Meanwhile, two BUMD companies namely Perusda RPH & BPH and PDAM Tirta Moedal did not achieve an efficiency score of less than 1 or <100%. In Perusda RPH & BPH has an inefficiency value of 0.6258 or 62.6%. The PDAM Tirta Moedal Company has an inefficiency value of 0.8243 or 82.4%. Following are the results of efficiency management in 2014.

Level of Efficiency and Effectiveness of Regionally Owned Enterprises (BUMD) in Semarang City Year 2015
Semarang City BUMD whose level of technical efficiency has been efficiency in accordance with variables (Total Assets, Equity, Profit After Tax, Dividends to Government, and Capital) in 2015.
With the results of data management using the estimation analysis tool Banxia Frontier Analysis 3.0 shows that the three BUMD Companies namely BPR BKK, PDAM Tirta Moedal, and Perusda RPH & BPH have efficiency values of 1 or 100%. Following are the results of efficiency management in 2015.

Picture 3. Level of Efficiency and Inefficiency of the Semarang City BUMD period 2015
Sources: Data processed, 2018 For measurement of effectiveness in Semarang City BUMD in 2015 by using the output variable namely profit after tax and dividends to the government with additional variables that do not affect the variable capital. With the results With the results of data management using an estimation analysis tool Banxia Frontier Analysis 3.0 shows that the

Level of Efficiency and Effectiveness of Regionally Owned Enterprises (BUMD) in Semarang City Year 2016
Semarang City BUMD whose level of technical efficiency has been efficiency in accordance with the variables (Total Assets, Equity, Profit After Tax, Dividends to Government, and Capital) in 2016. With the results of data management using the estimation analysis tool Banxia Frontier Analysis 3.0 shows that two BUMD Companies namely BPR BKK, and PDAM Tirta Moedal, which have efficiency values of 1 or 100%. While BUMD companies namely Perusda RPH & BPH do not achieve an efficiency value of less than 1 or <100%. In Perusda RPH & BPH has an inefficiency value of 0.808 or 8.1%. Following are the results of efficiency management in 2016.

Picture 5. Level of Efficiency and Inefficiency of the Semarang City BUMD period 2016
Sources: Data processed, 2018 For the measurement of effectiveness in Semarang City BUMD in 2016 by using the output variable namely profit after tax and dividends to the government with variables that do not affect the variable capital. With the results of data management using an estimation analysis tool Banxia Frontier Analysis 3.0 shows that the three BUMD   In 2016 shows that PDAM companies can maintain efficiency values of 1 or 100%. Then for BPR BKK can increase the efficient value to 1 or become 100%. However, on the RPH & BPH regulations, the decline was 0.751 or 75.1% indicating that the company had not achieved the efficiency value for the past 3 years. As for the measurement of the effectiveness of the Semarang City BUMD in 2014 -2016 by using the output variable, namely profit after tax and dividends to the government with variables that do not affect the variable capital. With the results of data management using an estimation analysis by Banxia Frontier Analysis 3.0 shows different results with the measurement of effectiveness per year. The following are the results of various effectiveness management. In the graph above shows that in 2014 two companies namely PDAM and RPH & BPH had a effectiveness level of 100%. While for BPR BKK has not reached the effective level with a value of 0.8823 or 88.23% which means less than 1 or <100%.

Level of Efficiency and Effectiveness of Regionally Owned Enterprises (BUMD) in
In the graph above shows that in 2015 two companies namely PDAM and RPH & BPH had a effectiveness level of 100%. While for BPR BKK has increased by 0.9379 or 93.8% but has not reached the effective level which means less than 1 or <100%. In 2016 showed that all BUMD companies had reached the effectiveness level of 1 or 100%. The following suggestions are expected to help Regional Companies or BUMDs to improve Financial Performance and increase the Wealth Outcomes which are separated to assist the Government in increasing PAD (Regional Original Revenue).
To be able to improve the efficiency of the company, which is related to improving the financial performance of BUMDs by improving the company's assets such as buildings and machinery as an effort to increase service production so that it can deposit dividends to the Regional Government.

Increasing the value of effectiveness for
BUMDs is done by increasing the company's profit after tax in order to maximize dividends to the government. BUMDs can collaborate with the government or private institutions to achieve synergy to create opportunities in increasing corporate revenues.