Open AccessSaldo Kas Minimal dan Optimalisasi Kas Pemerintah
Author(s) -
Agung Mulyono
Publication year - 2021
Publication title -
jurnal manajemen perbendaharaan
Language(s) - English
Resource type - Journals
ISSN - 2775-5010
DOI - 10.33105/jmp.v2i2.379
Subject(s) - cash management , cash , cash flow forecasting , operating cash flow , cash flow statement , transaction cost , business , finance , cash conversion cycle , cash and cash equivalents , economics , balance (ability) , monetary economics , medicine , physical medicine and rehabilitation
Cash minimum policy on General State of Cash Account or RKUN is aimed to fulfill cash needed for funding budget execution. That policy has possibility to be changed due to cash optimization purposes and advancement of banking technology. Study intend to increase our understanding about state cash management especially for cash balance on RKUN and explore a discourse in development of optimum cash management on RKUN for managing Government’s cost of fund. This paper uses simple average simulation, Boumol’s model dan Miller-Orr’s model with exploiting daily cash transaction on RKUN for 3 years to derive the form of the optimal cash balance under different assumptions about transaction costs and the demand for funds. Output of all models shows that amount of optimum cash on RKUN in the end of day should be smaller than the amount of cash set by cash minumun policy worth to Rp 2 billion. The result may open further discussion for policy changes on Government cash management.