Treasury’s functional responsibilities are stipulated in the Administrative Arrangements Order of 30 November 2007.
The Financial Management Group is responsible for advice on and the management of the Territory's financial arrangements and its budget. The key responsibilities of the Financial Management Group include:
| - | the development and management of the Territory Budget; |
| - | providing advice to the Treasurer, the Government and agencies on budget proposals, assisting agencies and monitoring agency performance in delivering their outputs; |
| - | coordination, analysis and monitoring of the Territory's Infrastructure Program; |
| - | managing the preparation and analysis of both agency and whole of government financial statements in the development of the Budget and preparation of financial statements throughout the year; |
| - | managing the Central Holding Authority; |
| - | developing, updating and maintaining Treasury's whole of government budgeting and reporting system; and |
| - | meeting the Territory's external reporting requirements and playing a major role in developing and monitoring the Territory's Fiscal Strategy. |
The Economic Group provides analysis and advice within an effective economic framework. It comprises four business units: Commercial, Economic Policy and Frameworks, Economic and Social Analysis, and Public Finance.
Commercial undertakes analysis and provides advice to Government on commercial issues and projects involving the Northern Territory. The business unit also administers the government owned corporations framework on behalf of the shareholding Minister. Commercial provides financial and commercial advice on major projects such as the Darwin City Waterfront redevelopment, the Darwin Casino, Bellamack land release and public private partnerships policy issues for the Territory Government.
Economic Policy and Frameworks aims to ensure that the Territory’s economic resources are applied in the most effective manner to protect and enhance the Territory’s long-term viability. Economic Policy and Frameworks provides advice on a range of economic issues including national microeconomic reform initiatives, government owned businesses, insurance and economic development issues.
Economic and Social Analysis provides a quantitative view of the Territory economy and relevant social statistics, as a basis for policy development by Government. The business unit monitors and analyses trends in macroeconomic conditions, provides regular briefings for the Treasurer and senior officials and regularly publishes information and analysis on the Territory economy. It also analyses and provides advice on social statistics of significance in the Territory. It has responsibility for population estimation and forecasting and oversees statistical coordination across Northern Territory Government agencies.
Public Finance has as its primary focus on intergovernmental financial arrangements, incorporating a wide spectrum of policy issues. Major activities include representation on national working groups on goods and services tax administration and specific purpose payments policy, analysis of whole of government financial issues, provision of strategic advice on intergovernmental financial relations, and management of submissions and data returns to the Commonwealth Grants Commission.
The Territory Revenue Office (TRO) provides advice on and administers the Northern Territory’s taxes, mineral and petroleum royalties, the first home owner grant and the on-road fuel subsidy. It comprises two business units: Revenue Collection and Revenue Development.
Revenue Collection provides for the fair, effective and efficient collection of revenue and payment of grants and subsidies. The unit also conducts compliance related activities and develops community understanding of revenue and grant related obligations.
Revenue Development ensures the continuing relevance and efficacy of the Territory’s revenue regime. The area provides advice to Government on revenue policy and budgetary issues, undertakes revenue modelling and forecasting analysis, monitors revenue collections, reviews decisions made under tax, royalty and first home owner grant legislation and manages the TRO’s information systems.
The Superannuation Office is responsible for superannuation policy and legislation that meets statutory requirements of Territory and national superannuation legislation, member services, superannuation support services for the Trustee and Review Boards of various schemes.
Treasury Services Group provides executive and corporate services to enable Treasury to fulfil its role as the key central agency for the provision of fiscal, economic, regulatory and resource management advice.
Senior Executive – the Under Treasurer, Deputy and Assistant Under Treasurers have whole of agency responsibilities and accountabilities, providing strategic direction and leadership for Treasury. They are also involved in high level whole of government projects and policy development.
Secretariat provides support services to the Under Treasurer, Treasury senior executives and the Treasurer’s office. The area provides central coordination and liaison services for Treasury between the office of the Treasurer, other Ministers’ offices, the Cabinet office, Legislative Assembly and other Government agencies on issues relating to Treasury responsibilities.
Corporate Support provides services to Treasury business units to enable staff to concentrate on core business in their functional area. Services include human resource management, recruitment, staff development, finance and accounting, security, office accommodation and vehicles. The area also manages the Finance Officer in Training (FOIT) graduate employment program and other cadet and trainee programs for Treasury.
Information Management and Systems manages the information and communications technology, records management, asset control and is responsible for internal and external communication activities, publishing Budget Papers, key Treasury publications and other documents, and for Treasury’s websites.
Related Statutory Authorities and Associated Entities
The following statutory authorities also fall within the administrative responsibility of Treasury, which provides resources for these entities to conduct their business operations.
Northern Territory Treasury Corporation is the Northern Territory Government’s central financing authority, and undertakes borrowing, lending and investing on behalf of the Territory. The Corporation provides loans to Government, its agencies, government owned corporations and, in certain circumstances, local governing authorities.
The Utilities Commission is the independent regulator established to oversee those industries declared to be regulated industries, currently the electricity and water supply and sewerage services industries.
The Commission is established as a separate administrative unit within Treasury, has specific statutory powers and undertakes its considerations independently from Treasury.
The Commission is responsible for promoting and safeguarding competition and fair and efficient market conduct or, in the absence of a competitive market, simulating competitive market conduct and preventing the misuse of monopoly power.