Department of Treasury & Finance

The Department of Treasury and Finance is in Victoria, Australia.

In the Australian state of Victoria, the Department of Treasury and Finance is an arm of the government that deals with economic policies. The work done there directly influences the decisions made by the government, making it an integral part of the political system of Victoria, and therefore Australia as a whole.

Structure

The organizational structure of the Department of Treasury and Finance begins with the Office of the Secretary, which provides administrative support to the Secretary of the Department. Under this are a series of divisions. The Budget and Financial Management Division acts as budget policy advisers, the Commercial Division implements and manages commercial projects for the government, the Economic and Financial Policy Division advises on key economic and financial issues, and the Government Services Division helps manage the department by working with other arms of the government. An Audit Committee also exists to review internal spending.

History

The Department of Treasury and Finance has been around since the early days of Victoria. It was one of the first institutions and predates Parliament by over a decade. When it was first introduced, the department collected revenue from custom duty and from land sales. In the second half of the 19th century, it turned much of its focus on the gold that was coming out of Victoria's mines. It oversaw the sale of that gold and also its safe storage. Today, the department operates for the state government on a wide variety of levels and is considered to be an important part of the state's government.

Support

As of July 2008, the Department of Treasury and Finance supports two major individuals in the government of Victoria. The first is John Lenders, the 50th treasurer of Victoria. He is advised by the department in his responsibility of handling a budget of $46 billion that is used in the government sector. The second individual supported by the department is Tim Holding, the Minister of Finance. He manages more than $126 billion in government assets and is responsible for Victoria’s financial reporting and accountability.

Function

The main goal of the Department of Treasury and Finance is to provide the government of Victoria with policy advice in regard to the economy, financial spending and situation of the government, and with resource management. It does this by balancing various goals of the government and the department (economic, social, and environmental) within a framework of responsible financial management. The department also reviews the government’s spending habits and suggests changes in it so that the government can achieve more by spending less.

Employment

A number of different positions are available with the Department of Treasury and Finance. This department hires economists, project managers, administrators, policy advisers, accountants, financial specialists, business analysts, and many others. A special program called the Victorian Public Service Graduate Scheme employs a number of recent graduates every year to offer them the ability to train, develop, and grow within the company without prior experience.

References

• The Department of Treasury and Finance: Home