20 State Universities with the Largest Initial Wealth Values, Number 1 is Surprising
The Initial Net Wealth (NKA) of higher education institutions in Indonesia varies significantly. The government has determined the NKA for 23 state universities with legal entity status (PTNBH). Based on this data, the total NKA for all PTNBH reaches approximately Rp43.58 trillion.
Universitas Terbuka recorded the largest NKA at Rp3.55 trillion; however, it should be noted that this figure represents the combined total for all open university units. When looking specifically at campus-based PTNBH, Universitas Brawijaya, Universitas Indonesia, and Universitas Gadjah Mada are the three universities with the largest NKA.
What is being measured?
Initial Net Wealth does not indicate the amount of cash or total assets owned by a campus, nor does it serve as a wealth ranking for universities. NKA represents the net asset balance at the beginning of the accounting period when a university begins operating under its PTNBH status, in accordance with financial accounting standards.
This determination is regulated under Minister of Finance Regulation Number 108/PMK.06/2017. This value serves as the basis for recording assets and liabilities, as well as the process of transferring state-owned goods when a university transitions from a government working unit to a legal entity.
Who has the largest value?
Of the 22 PTNBH compared, Universitas Brawijaya recorded the largest NKA at Rp3.42 trillion, followed by Universitas Indonesia at Rp3.39 trillion and Universitas Gadjah Mada at Rp2.73 trillion. The next group includes IPB University, Hasanuddin University, and the University of Sumatera Utara, each possessing an NKA above Rp1.9 trillion. Conversely, the Sepuluh Nopember Institute of Technology (ITS) recorded the smallest NKA among the PTNBH shown, at approximately Rp949.6 billion.
Why do the figures differ?
The magnitude of the NKA does not reflect the quality of the campus or the university’s total revenue. The value is the result of determining net assets at the start of the PTNBH formation based on financial reports, asset transfer processes, and documents verified by the government.
In the process, technical ministries submit proposals to the Minister of Finance, attaching financial reports, working unit liquidation documents, opening financial position reports for the PTNBH, and official minutes of the NKA agreement. The determination is finalised after undergoing administrative and substantive research as regulated by PMK Number 108/PMK.06/2017.
The determination of NKA is a crucial stage in the financial management process of PTNBH. This value serves as the basis for recording net assets when a university begins its operations as a legal entity, and acts as a reference in the process of transferring assets and liabilities from government working units to the PTNBH in accordance with applicable regulations.