Role and functions
As a central agency of the Australian Government, the Department of Finance (Finance) plays a key role in assisting the Government to shape and deliver its priorities, particularly to ensure public expenditure programs are sustainable and reflect best value for the Government and the Australian community.
Finance works closely with the other central agencies, the Department of the Prime Minister and Cabinet and the Treasury, to provide support to government in its deliberations in Cabinet and its committees.
Finance plays a central role in managing the Commonwealth’s commercial interests, supporting financial sustainability and economic growth through the delivery of significant projects and supporting the Minister for Finance as shareholder minister for Government Business Enterprises (GBEs).
Finance has a central role in delivering shared services across government, improving the delivery of contemporary corporate services to achieve cost and time efficiencies. We collaborate across government to develop robust and fit-for-purpose policies and legislation around public governance, performance, accountability and risk management.
Our responsibilities are wide-ranging, spanning the full range of public administration functions from developing policy through to implementing and reviewing programs. These responsibilities include:
- budget and economic updates and budget transparency
- GBE shareholder responsibilities
- insurance, investment funds and superannuation
- maintaining the Resource Management Framework
- public sector productivity
- Commonwealth procurement, property and risk management
- whole-of-government ICT services
- shared services transformation
- supporting parliamentarians and their staff
- electoral policy
- discretionary compensation payments
- campaign advertising.