Financial Management Group
Economic Services Group
Territory Revenue Office
Superannuation
Treasury Services Group
Treasury Corporation
Utilities Commission
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:
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.
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.
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.
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.
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.
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.
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.
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.
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
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.