“Where Does the Indonesian Government Keep Trillions of State Money? – Management of State Money Explained”

Jakarta –

Currently there are still many people who do not know where the Indonesian government keeps thousands of trillions of state money. This is important considering how this state money is usually used as the State Revenue and Expenditure Budget (APBN), which is then regulated by the Minister of Finance Sri Mulyani Indrawati.

Sri Mulyani stated that the state revenue target for 2023 is IDR 2,463 trillion. Until the end of March 2023, State Revenue reached IDR 647.2 T or 26.3% of the 2023 State Budget target.

It should be noted that the depository of the Indonesian government’s state money has been regulated in Government Regulation (PP) Number 39 of 2007 concerning Management of State Money.

The PP explains that all state-owned money is kept in the state treasury. The state treasury is kept in a bank account on behalf of the state.

The state treasury is then put into an account called the state general treasury account (RKUN), where all incoming and outgoing money flows are regulated and managed by the Minister of Finance as the state general treasurer.

Furthermore, in Article 11 Paragraph 1 PP No. 39 of 2007 explained that the addition or income of state money comes from:

a. state revenue, including tax revenue, Non-Tax State Revenue, and grants;
b. receipt of financing, including receipt of loans, proceeds from the sale of separated state assets, and settlement of receivables; And
c. other state revenues, including acceptance of third party calculations.

Mentioned in Article 14 PP No. 39 of 2007, throughout National income This is then put into the state treasury and kept in an account at the central bank, in this case Bank Indonesia (BI).

In the state account, all withdrawals must obtain approval from the Minister of Finance as the state treasurer.

Whereas in Article 11 Paragraph 2 PP No. 39 of 2007 it is said that the reduction or spending of state money is caused by:
a. state spending;
b. the issuance of financing, including debt principal payments, state capital participation, and lending; and
c. other state expenditures, including expenditures calculated by third parties.

For information, to expedite the implementation of state money processing, this RKUN does not only contain one account. However, the government can also open several sub-accounts and other accounts belonging to the government which function as the state treasury at the central bank.

As for further provisions regarding the opening and management of State General Cash Accounts, Sub-accounts State General Treasury and other accounts are regulated by a Minister of Finance Regulation.

(fdl/fdl)