Villages in the era of regional autonomy have the authority to determine the direction of development by optimizing the management of village funds through the establishment and development of Village-Owned Enterprises (BUMDES). This study aims at the concern of villages in NTT Province that have not made BUMDES as a vehicle for managing the Village Fund and as a comparison for researchers who took the research location in Kokbaun District, TTS Regency, NTT Province. This research is a descriptive legal research with the type of research is normative-empirical legal research. This type of research requires secondary data and primary data. The research data shows that the Village Government in Kokbaun District has understood the importance of establishing BUMDES as mandated by the Village Law, but there are obstacles in the implementation of its formation and development. The obstacles are the quality of Human Resources, namely the lack of understanding of villagers and the lack of skilled personnel in managing BUMDES in accordance with the articles of association and bylaws and understanding of village development. The principles of good corporate governance can help BUMDES management so that it becomes more focused and ultimately can increase village income which will also affect the development and economic development of rural communities.

The role of government investment through regional state-owned companies is an effort to strengthen regional revenue originating from separated regional assets. The purpose of establishing a regional limited liability company is as one of the drivers of regional economic growth and development. The purpose of this paper is to explain the role of local governments in realizing the management of regional companies based on the principles of good corporate governance. The research method used is normative legal research method. The regional government in its position as the majority shareholder has the authority to manage, regulate and intervene in the management of regional state-owned companies. As the majority shareholder, the local government has authority that is not delegated to the board of directors and commissioners. Likewise with the application of the principles of good corporate governance. The role of local government is to supervise, monitor and evaluate the implementation of the principles of good corporate governance developed within the company, especially for directors, commissioners and employees.

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This paper describes the efforts to strengthen regional revenue from separated regional assets, after the local government investment through the Limited Liability Company Flobamor as a RegionallyOwned Enterprise in strengthening the source of Regional Original Income in East Nusa Tenggara Province. This paper is the result of research with the formulation of the main problems (1) What are the legal implications of the existence of local government authority on the management of regional companies in the Flobamor Limited Liability Company, East Nusa Tenggara? and how are the efforts to overcome the legal implications for the management of regional companies in the Limited Liability Company, Flobamor, East Nusa Tenggara? The research method used is descriptive legal research with the type of normative-empirical legal research or applied law research. It was found that the regional government of East Nusa Tenggara as the shareholder was the General Meeting of Shareholders, because according to the rules of the Limited Liability Company, the Regional Government as the General Meeting of Shareholders was not submitted to the Directors and Commissioners of the Flobamor Limited Liability Company so it was difficult to find significant regional revenue. It was also found that the fundamental thing that local governments have is a strategic position in decisions to make capital participation, increase and decrease capital and share company profits. Meanwhile, regional company capital originating from separated regional assets results in a permanent investment of capital from the regional government without any efforts to maximize local revenue through the limited liability company in the Flobamor area of East Nusa Tenggara. It is hoped that supervision from the regional legislature and the community will immediately control regional capital participation through the Flobamor Regional Limited Liability Company, East Nusa Tenggara.

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