FINANCIAL PERFORMANCE ANALYSIS TO ASSESS THE HEALTH OF BMT ARAFAH KULON PROGO'S SAVINGS AND LOAN COOPERATIVE AND ISLAMIC FINANCING (

___________________________________________________ This study aims to find out the soundness level of Sharia Savings and Financing Cooperatives (KSPPS) BMT Arafah in 2015-2019 based on the Regulation of the Minister of Cooperatives and Small and Medium Enterprises of the Republic of Indonesia Number:35.5/Per/M.KUKM/XI/2007 concerning capital aspects, efficiency aspects and liquidity aspects. This type of research is descriptive quantitative. The object of this research is the health analysis of Cooperatives Save Borrowing and Sharia Financing (KSPPS) BMT Arafah. The population of this research is in the form of financial statements such as balance sheets, profit and loss statements and the remaining business results of the next sample used in this study, namely the 2015-2019 financial statements. The method used is the documentation method. The results showed that the soundness level of BMT Arafah in 2015-2019


INTRODUCTION
A cooperative is a legally recognized monetary institution aimed at improving the welfare of its members and the community. According to Law Number 25 of 1992 concerning Cooperatives, a cooperative is defined as a popular economic movement or business entity that participates in realizing an advanced, just, and prosperous society based on Pancasila and the 1945 Constitution within the national economic system, structured as a joint effort based on the principles of family and economic democracy. Therefore, cooperatives are a key support system in the Indonesian national economy. The establishment of cooperatives was motivated by the need to reduce the losses experienced by the lower class of society, such as farmers, traders, and laborers, due to the capitalist system. In the current era, in addition to conventional cooperatives, there are losses, they are borne collectively. The financial performance of BMT cooperatives can be demonstrated through the income statement and balance sheet, which consist of assets, liabilities, capital, and business results. The common challenges faced by KSPPS include managerial issues, capitalization, and limited human resource capacity, which hinder the cooperatives from operating innovatively, effectively, and efficiently. Additionally, from the perspective of society, cooperatives are often regarded lower than other financial institutions. Therefore, it is necessary to conduct a financial performance analysis to assess the health of the cooperative, aiming to add value to the cooperative and attract more people to utilize cooperatives, especially Islamic cooperatives.
Financial performance is the quantitatively measured achievement using financial statement analysis tools such as liquidity ratios, solvency ratios, profitability ratios, and activity ratios. The financial performance of cooperatives is also derived from these ratios, adjusted to the

Types of Research
This research is a type of quantitative descriptive research. Jusman (2019) states that quantitative descriptive research is used to explain characteristics using numerical data accurately collected from a specific condition. Sugiyono (2018) Karim (2017) states that documentation studies help in collecting data or information by reading daily records, announcements, meeting summaries, written policy statements, and other written materials. The documentation method is conducted by collecting and examining the balance sheets and income statements of the savings and loan cooperative, BMT Arafah Kulon Progo. only three aspects of assessment will be examined, specifically focusing on the financial performance of KSPPS. These aspects include:

Data Analysis Technique
1. Capital Adequacy Aspect 2. Efficiency Aspect

RESULTS AND DISCUSSION Assessment of Capital Adequacy Aspect
The assessment results conducted using the financial reports of BMT Arafah for the years 2015-2019.

Ratio of Equity to Total Assets
It shows that in 2015, the ratio obtained was 25.11%, receiving a credit score of 100 with a score of 5.0; in 2016, the ratio obtained was 22.02%, receiving a credit score of 100 with a score of 5.0; in 2017, the ratio obtained was 19.80%, receiving a credit score of 95 with a score of 4.75; in 2018, the ratio obtained was 2.18%, receiving a credit score of 25; and in 2019, the ratio obtained was 2.54%, receiving a credit score of 25. The ratios for the years 2015 to 2016 were above 20%, with a score range of 3.76-5.0, and in 2017, the ratio was 19.80%, indicating that BMT Arafah was capable of gaining the trust of its members to deposit funds in KSPPS. However, in the past two years, there has been a decrease due to additional expenses, resulting in a larger total capital. Therefore, BMT Arafah needs to increase its own capital to improve the obtained ratios and meet the criteria for financial health.

Capital Adequacy Ratio (CAR)
It shows that in 2015, the ratio obtained was 48.07%, receiving a credit score of 100 with a score of 5.0; in 2016, the ratio obtained was 36.96%, receiving a credit score of 100 with a score of 5.0; in 2017, the ratio obtained was 79.13%, receiving a credit score of 100 with a score of 5.0; in 2018, the ratio obtained was 38.24%, receiving a credit score of 100 with a score of 5.0; and in 2019, the ratio obtained was 23.38%, receiving a credit score of 100 with a score of 5.0. The average CAR ratio from 2015 to 2019 was 45.15%, which is considered healthy. This means that BMT Arafah's weighted capital has excellent quality in managing the risk-weighted assets (RWA) from 2015 to 2019.

Ratio of Operational Costs to Services
It shows that in 2015, the ratio obtained was 91.94%, receiving a credit score of 50 with a score of 2; in 2016, the ratio obtained was 94.00%, receiving a credit score of 50 with a score of 2; in 2017, the ratio obtained was 88.14%, receiving a credit score of 50 with a score of 2; in 2018, the ratio obtained was 92.09%, receiving a credit score of 50 with a score of 2; and in 2019, the ratio obtained was 85.76%, receiving a credit score of 50 with a score of 2. The average ratio obtained was 90.38% with an average score of 2, indicating less efficiency. Based on this, BMT Arafah needs to improve its operational services and gross participation to achieve better efficiency.

Ratio of Fixed Assets to Total Assets
It shows that in 2015, the ratio obtained was 1.25%, receiving a credit score of 100 with a score of 4; in 2016, the ratio obtained was 0.77%, receiving a credit score of 100 with a score of 4; in 2017, the ratio decreased to 0.27%, obtaining 0.50%, receiving a credit score of 100 with a score of 4; in 2018, the ratio obtained was 0.18%, receiving a credit score of 100 with a score of 4; and in 2019, the ratio obtained was 0.06%, receiving a credit score of 100 with a score of 4.
The average ratio obtained was 0.55% with an average score of 4, which is the maximum score.
The lower the resulting ratio, the more efficient it is.

Staff Efficiency Ratio
It shows that in 2015, the ratio obtained was 431.88%, receiving a credit score of 100 with a score of 2; in 2016, the ratio obtained was 428.46%, receiving a credit score of 100 with a score of 2; in 2017, the ratio obtained was 522.95%, receiving a credit score of 100 with a score of 2; in 2018, the ratio obtained was 820.90%, receiving a credit score of 100 with a score of 2; and in 2019, the ratio obtained was 775.41%, receiving a credit score of 100 with a score of 2.

Cash Ratio
It shows that in 2015, the ratio obtained was 10.20%, receiving a credit score of 25 with a score of 2.5; in 2016, the ratio obtained was 33.12%, receiving a credit score of 100 with a score of 10; in 2017, the ratio obtained was 21.19%, receiving a credit score of 75 with a score of 7.5; in 2018, the ratio obtained was 67.86%, receiving a credit score of 25 with a score of 2.5; and in 2019, the ratio obtained was 59.92%, receiving a credit score of 25 with a score of 2.5. The average ratio obtained was 38.45% with an average score of 7.5, where the maximum score is 10.
This indicates that BMT Arafah is in a reasonably liquid condition.

Ratio of Financing to Funds Received
It shows that in 2015, the ratio obtained was 81.45%, receiving a credit score of 75 with a score of 3.75; in 2016, the ratio obtained was 81.64%, receiving a credit score of 75 with a score of 3.75; in 2017, the ratio obtained was 90.23%, receiving a credit score of 75 with a score of 3.75; in 2018, the ratio obtained was 82.02%, receiving a credit score of 75 with a score of 3.75; and in 2019, the ratio decreased to 66.71%, receiving a credit score of 50 with a score of 2.50.
The average ratio obtained was 80.41% with an average score of 3.75, where the maximum score is 5. The higher the ratio, the lower the problem loans.