One of problems in making a government's balance sheet is to determine the value of infrastructure run by the government. It is because the infrastructure is valueless and closely similar in characteristics to public goods. In general, most researchers would use travel cost method to value government infrastructure. Yet, this method is very sensitive toward respondents' characteristics and in many cases, it results in over estimated valuation. Meanwhile, a valuation technique using cost approach for government infrastructure reflects less its benefits and in many cases, it also tends to be undervalued. Against the aforementioned issue, this research attempted to evaluate state-owned infrastructure using a capitalization method. The object of this research was Sapon Dam located in Kulon Progo Regency, Indonesia. This dam is a state-owned asset functioned to sustain agricultural development particularly for irrigating paddies. This research was aimed at estimating the value of Sapon Dam using a capitalization method. In this method, the absence of infrastructure value was replaced with difference-in-differences analysis for proxy income. The data used in this research was secondary data which included paddy planting areas in irrigated and rain-fed fields, and also farmers' net income. It was found that the estimated value of Sapon Dam per December 15 th 2015 was IDR 96,659,385,018.72.

This study tried to identified the market and the rental value of Grha Z as one of the local assets in Province A. This study used cost approach and income approach in valuation to obtain rental value and Net Present Value (NPV) of the building, the construction cost of a new Grha Z building, management office, home generator and warehouse. Because of the limited information, this study valuate the asset asymmetrically. The result of the calculation produces the value of assets, taxable value assets as the basis for calculating the value of the rental assets according to Minister of Finance (MoF) Regulation 33/2012. The results showed that the rental value of local assets such as land and buildings in the area Grha Z can be increased by Regulation of Indonesian MoF Number 33/2012. It can be used as a material consideration in the improvement of regional asset rental agreement.

Kota Surakarta telah mengalami berbagai kerugian akibat banjir. Sub-DAS Kali Pepe merupakan daerah aliran sungai yang berkontribusi pada banjir yang terjadi di Kota Surakarta, utamanya oleh faktor wilayah hulu yang didominasi oleh aktivitas pertanian. Pembebasan lahan di wilayah hulu Sub-DAS Kali Pepe untuk penghutanan kembali mampu mengurangi debit aliran yang mengalir ke wilayah hilir, Kota Surakarta. Tujuan penelitian ini yaitu 1) membuat delineasi wilayah pembebasan lahan, 2) menentukan besarnya nilai penggantian wajar, 3) menghitung besarnya pengurangan debit aliran. Analisis kemampuan lahan menggunakan sistem informasi geografis digunakan untuk menentukan wilayah yang akan dibebaskan. Selanjutnya nilai penggantian wajar dihitung berdasarkan Standar Penilaian Indonesia 306 dengan melibatkan komponen pengantian fisik dan penggantian non fisik. Besarnya pengurangan debit aliran Sub-DAS Kali Pepe dihitung menggunakan model debit rasional. Hasil menunjukkan bahwa hasil delineasi seluas 1.269,67 Ha yang menjadi target pembebasan lahan di hulu Sub-DAS Kali Pepe membutuhkan nilai penggantian wajar sebesar Rp. 909 miliar. Perlakukan yang dilakukan menurunkan debit aliran sebesar 139.263 lt/detik atau 29,4%. Pengurangan debit aliran yang dilakukan mampu menjadi solusi dalam mengatasi masalah banjir di wilayah hilir Sub-DAS Kali Pepe yaitu Kota Surakarta.

This study aims to analyze the cyclicality of fiscal policy under state finances law in Indonesia. The Indonesian government officially enacted the 2003 and 2004 Laws on State Finances, and it regulates fiscal rules covering the amount of the budget deficit and balanced budget rules. This fiscal rule is expected to encourage fiscal cyclicality to become countercyclical and provide buffering to deal with various economic shocks. This study uses quarterly time-series data from 2001 to 2019. The years 2001-2004 are used as the years prior to implementing the State Finance Law. Moreover, 2005 – 2019 is the time to capture the effects of cyclicality after implementing the Law. This study uses a dynamic distributed lag model to see the effect of GDP on government spending behavior. This study indicates that fiscal cyclicality before implementing the Law on State Finance behaved acyclically. Meanwhile, after implementing the Laws, this fiscal behavior is still procyclical. It means that the fiscal rules have not been effective in changing the direction and behavior of the fiscal to be countercyclical.