Department of Treasury and Finance

Full description

The Department of Treasury (VA 3007) and the Department of Finance (VA 3016) merged formally on 31 March 1995 to form the new Department of Treasury and Finance (VA 3745).

The newly created DTF's main responsibilities were to:
- ensure responsible and contemporary financial management
;- prepare, manage and monitor the State's budgetary statements
;- manage the public account
;- initiate effective financial and economic reforms
;- achieve progressive upgrading of Victoria's credit ratings
;- generate and collect revenue
;- monitor, manage and identify opportunities to restructure the State's debt and liabilities
;- ensure that Victoria has a value for money capital works program
;- implement structural reforms of Victoria's government businesses
;- develop and manage intergovernment financial relations
;- provide advice on valuation and survey matters
;- manage State owned and leased property and the Government's sales of surplus property
;- develop and guide budget sector wide information technology policy and strategy
;- develop superannuation policy on behalf of the State
;- develop and monitor the Government's vehicle fleet policies.

The Department of Treasury and Finance provided the Government with economic, financial and resource management policy advice.

Following the machinery-of-government changes made by the newly elected Labor Government under the leadership of Premier the Hon Daniel Andrews MP, which reduced the number of existing State departments from nine to seven, DTF assumed responsibility of CenITex, the whole-of-government ICT shared services agency (Statement from the Premier, Thursday 4 December 2014).

After the machinery-of-government change, implemented 1 January 2015, DTF oversaw the following groups:
- Shareholder Advisory Services
;- Financial Assets and Liabilities
;- Infrastructure Advice and Delivery (High Value/High Risk)
;- Construction Code Compliance
;- Financial Reporting
;- Budget Strategy
;- Portfolio Analysis
;- Finance and Technology Services
;- Corporate Services
;- Strategic Sourcing
;- Economic Policy
;- Social Policy
;- Cost Control and Efficiency
;- Macroeconomic and Revenue Forecasting
;- Tax and Intergovernmental Relations
;- Gambling Policy and Litigation
;- Shared Services Provider.

On 1 March 2016, the Department of Treasury and Finance (DTF) acquired responsibility for the following Acts, as per the Victorian Government Gazette, No. S 44, 8 March 2016:
- Audit Act 1994 - Sections 8-10, 16A, 16B, 16D, 16E and 16G (responsibility was transferred from the Department of Premier and Cabinet (VA 1039)).

Under the same Gazette notification (No. S 44, 8 March 2016), DTF lost responsibility for the following Acts:
- Housing Act 1983 - Division 6 of Part VIII (responsibility was transferred to the Department of Health and Human Services (VA 5037)).