Penelitian ini bertujuan untuk menganalisis pengaruh pendapatan asli daerah (pad) dan belanja modal terhadap kinerja keuangan pemerintah daerah di lima provinsi di pulau kalimantan selama periode 2018–2023. kinerja keuangan daerah diukur melalui rasio efektivitas dan kemandirian, menggunakan data sekunder yang diperoleh dari direktorat jenderal perimbangan keuangan. penelitian ini menggunakan pendekatan kuantitatif dengan analisis regresi data panel melalui tiga pendekatan model: common effect model (cem), fixed effect model (fem), dan random effect model (rem), disertai uji asumsi klasik dan uji hipotesis. hasil penelitian menunjukkan bahwa secara parsial dan simultan, pad memiliki pengaruh positif dan signifikan terhadap kinerja keuangan pemerintah daerah. namun, belanja modal ditemukan berpengaruh negatif dan signifikan terhadap kinerja keuangan pemerintah daerah, mengindikasikan bahwa peningkatan belanja modal cenderung menurunkan kinerja keuangan daerah dalam konteks periode dan wilayah penelitian. temuan ini menegaskan pentingnya optimalisasi pendapatan asli daerah dalam mendukung kemandirian dan efektivitas pengelolaan keuangan daerah, serta menyoroti perlunya evaluasi lebih lanjut terhadap efektivitas belanja modal. penelitian ini diharapkan dapat menjadi referensi bagi pemerintah daerah dalam merumuskan strategi peningkatan kinerja keuangan secara berkelanjutan di kalimantan. kata kunci: pendapatan asli daerah, belanja modal, kinerja keuangan pemerintah daerah, efektivitas, kemandirian, kalimantan

This study aims to analyze the influence of local own-source revenue (losr) and capital expenditure on the financial performance of local governments in five provinces on the island of kalimantan from 2018-2023. local government financial performance is measured through effectiveness and independence ratios using secondary data from the directorate general of fiscal balance. this study employs a quantitative approach with panel data regression analysis using three model approaches: common effect model (cem), fixed effect model (fem), and random effect model (rem), accompanied by classical assumption tests and hypothesis testing. the results indicate that partially and simultaneously, losr has a positive and significant influence on the financial performance of local governments. however, capital expenditure was found to have a negative and significant influence on the financial performance of local governments, suggesting that an increase in capital expenditure tends to decrease local financial performance within the context of the study period and region. these findings emphasize the importance of optimizing local own-source revenue to support the independence and effectiveness of regional financial management and highlight the need for further evaluation of the efficacy of capital expenditure. this study is expected to serve as a reference for local governments in formulating strategies for sustainable improvement of financial performance in kalimantan. keywords: local own-source revenue, capital expenditure, local government financial performance, effectiveness, independence, kalimantan