This study aims to evaluate the financial performance of local governments through the lens of the Value for Money (VfM) framework, which emphasizes the principles of economy, efficiency, and effectiveness in public sector spending. The growing demand for transparency and accountability in public administration necessitates a shift from traditional input-output financial measures to a more outcome-based evaluation approach. Using a quantitative research design, data were collected through structured questionnaires distributed to 135 respondents across selected local governments. Supplementary secondary data from official performance and audit reports were also analyzed.