Financial Management Group
Economic Services Group
Commercial Services Group
Territory Revenue Office
Treasury Services Group
Financial Management
Degree Types: Accounting, Finance, Commerce, Business, Public Administration
Financial Management 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:
What work have FOITs completed in the past?
Drafting submissions for Treasury’s Budget Papers, liaising with
NT Agencies on Budget issues, and administrative and logistic functions
to ensure timely delivery of Budget folders and Budget Books, independently
reviewing NT Agencies financial data; monitoring actuals against budget;
providing advice to NT Agencies on their financial data in accordance
with financial management principles, accounting standards and Treasurer’s
Directions, assisting in consolidation of whole of government data,
and whole of government financial analysis including input to the Territory
Fiscal Strategy.
Economic Policy and Frameworks
Degree types: Economics, Business, Commerce, Public Administration
Economic Policy and Frameworks aims to ensure that the Territory’s
financial and physical resources are applied in the most effective manner
to protect and enhance the Territory’s long-term financial and
economic viability. Economic Policy and Frameworks provides advice on
microeconomic issues including National Competition Policy (legislative
reform, utilities reform, competitive neutrality), government business
divisions, insurance and economic development issues.
What work have FOITs completed in the past?
Preparation of Ministerial correspondence, Legislative Assembly and
Council of Australian Governments (COAG) briefs and comments on Cabinet
Submissions; contributing to the development of Budget Papers; and general
analysis of Territory and national policy issues. FOITs also complete
tasks and projects related to the main areas of work in Economic Policy
and Frameworks such as utilities reform, insurance law reform, prudential
supervision of Territory Insurance Office (TIO), GBD reform, Foreign
Investment Review Board proposals and major project analysis.
Economic Analysis
Degree types: Economics, Business, Commerce, Public Administration
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
responsiblity for population estimation and forecasting and oversees
statistical coordination across Northern Territory Government agencies.
What work have FOITs completed in the past?
Analysis of statistical data to produce daily economic briefs, assist
in preparation of Budget documents, prepare draft Cabinet Submissions
on topical issues, assist in the research and analysis of demographic
trends.
Public Finance
Degree Types: Finance, Economics, Business, Commerce, Public Administration
Public Finance has as its primary focus intergovernmental financial
arrangements, incorporating a wide spectrum of policy issues.
Major activities include representation on national working groups on
goods and services tax (GST) administration and specific purpose payments
(SPP) 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.
What work have FOITs done in the past?
FOITs typically undertake defined projects while also contributing to
the Division’s core business. FOITs have previously contributed
to GST modelling and policy development, SPP case studies, analysis
of Cabinet Submissions, and the preparation of major submissions to
the Commonwealth Grants Commission.
Commercial
Degree types: Business, Commerce, Finance, Accounting, Law, Public
Administration
The Commercial Group provides commercial advice to Government. The business
unit administers the government owned corporations framework on behalf
of the shareholding Minister and manages the Government’s commercial
accountabilities and risks under the Financial Management Act.
The Commercial Group also provides financial and commercial advice on major projects such as the Darwin City Waterfront redevelopment project, on administering incentive payments for the Alice Springs Convention Centre, and on public private partnerships policy issues for the Territory Government.
What work have FOITs done in the past?
Assist in providing advice and comments on Cabinet Submissions and other
briefings relating to commercial matters, drafting policy, preparing
reports to fulfil legal requirements, assist in financial probity investigations.
Treasury Corporation
Degree types: Business, Commerce, Accounting, Finance,
Public Administration, Economics , Law
Northern Territory Treasury Corporation is the Northern Territory Government’s central financing authority, which undertakes borrowing, lending and investing on behalf of the Territory. The Corporation provides loans to Government, its agencies, government owned corporations and local governing authorities. It manages an average of $450 million in investments including investing the surplus cash balances in Government accounts.
Superannuation
Degree type: Accounting, Business, Commerce, Law
The Northern Territory Superannuation Office is responsible for
superannuation policy and legislation that meets statutory requirements
of Territory and Commonwealth superannuation legislation, member services,
superannuation support services for the Trustee and Review Boards of
various schemes, and developing corporate tax policy for the Northern
Territory Government.
What work have FOITs done in the past?
Research and the provision of advice to Government relating to Territory
and Commonwealth superannuation and taxation policy, analysis of statistics
to produce reports for Senior Management, provision of financial support
services for the Superannuation Office.
Degree type: Business, Commerce, Accounting, Finance, Economics,
Law, Public Administration
Revenue Collection ensures the effective collection of revenue
in accordance with the relevant tax and royalty legislation and develops
community understanding of revenue obligations. The area advises
on and administers tax and royalty legislation, including the identification
of tax and royalty payers and the minimisation of losses to revenue
from avoidance practices. It also administers a number of subsidy
schemes and grants, including the First Home Owner Grant.
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 and royalty legislation and manages TRO’s information systems.
Coordination of the flow of information within TRO and between TRO and stakeholders is managed by the Revenue Administration Unit. It also coordinates TRO activities and reporting to Government, and manages TRO’s public awareness activities.
What work have FOITs done in the past?
Conducting and assisting with taxpayer compliance audits, applying and
interpreting revenue legislation in the preparation of assessments,
conducting research into the Territory's revenue regime including assistance
with revenue reporting monitoring and forecasting, and reviewing revenue
policy and legislation and decisions made in respect to revenue legislation.
Senior Executive, Secretariat,
Corporate Support, Communications, Alice Springs Office
Degree types: Business, Commerce, Public Administration
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 Minister's offices, the Cabinet office, Legislative Assembly and other Government agencies on issues relating to Treasury responsibilities. Secretariat also includes the Information Policy Officer, who coordinates activities relating to Treasury's Information Act responsibilities.
Corporate Support provides services to Treasury work groups to enable staff to concentrate on core business in their functional area. Services include human resource management, recruitment, staff development, finance and accounting, information and communications technology, records management, security, office accommodation, asset control and vehicles. The area also manages the Finance Office in Training (FOIT) program and other cadet and trainee programs for Treasury.
Communications is responsible for internal and external communication activities, publishing Budget Papers, key Treasury publications and other documents, and for Treasury's websites.
What work have FOITs done in the past?
Assist with the development of new Treasury policies; review and update
existing Treasury policies and procedures; undertake research and analysis
of local, national and international policy issues and trends in relation
to corporate functions; draft surveys for Treasury wide circulation
on topical issues; maintenance of Treasury’s website; assist in
the preparation of publications including Budget Papers and the Annual
Report; and development and placement of advertising