Special region of Yogyakarta is the newest area that has reached constitutionality privilege status of three other special regions: Aceh, Papua and Jakarta. This paper is the results of combination from several data collection method such as survey, interview, and Focus Group Discussion in order to gather a more comprehensive data and analysis. In Addition, data are collected from o cial document, library literature, and media report. And the method of analysis is using descriptive and chronological. Lastly, conclusions are produced by induction and deduction model. This research ndings are go as follow. First, good governance approach in funding are made to be preferred procedure in creating various program and privilege activities under the special fund (danais). Second, the philosophical debates are so dominant in three years instead in more substantial programs related to support and craeate more social welfare in the grassroot. Third, a large proportion of the budget allocation was spent in cultural events creating a serious public apathy where the principle of privilege and power for the welfare is still left behind. It is becoming provocative summery that the implementation of privilege regions during rst three years is facing a condition what we called‘big budgets but low Impact.’