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Executive remuneration

Introduction

The categories of officials covered by the disclosures include:

- Key management personnel

- Senior executives remuneration

- Other highly paid staff

Remuneration policies and practices

The Secretary to the Treasury’s remuneration is set by a Remuneration Tribunal Determination.

SES remuneration and employment conditions are determined under section 24(1) of the Public Service Act 1999. These are supported by a remuneration model that determines pay levels within each SES level based on performance. SES are subject to annual performance appraisals.

Remuneration and employment conditions for the Treasury’s non-SES officers are determined under the Treasury Enterprise Agreement 2018–2021. The enterprise agreement operates in conjunction with applicable Commonwealth legislation and the Treasury’s policies and guidelines to define the terms and conditions of employment for staff. The department occasionally uses individual flexibility arrangements to secure specific expertise or specialist skills critical to business needs, which are governed by the Treasury Enterprise Agreement 2018–2021.

In determining the appropriate conditions and rates for overseas posts, the Treasury may be guided by the conditions of service extended to the Department of Foreign Affairs and Trade.

Key management personnel

During the reporting period ended 30 June 2020, Treasury had 12 executives who met the definition of key management personnel (KMP). Their names and length of term as KMP are summarised below:

Name

Position

Term as KMP

Simon Atkinson

Deputy Secretary

Part year - ended 8 November 2019

Matthew Flavel

Deputy Secretary

Part year - ended 17 January 2020

Philip Gaetjens

Secretary

Part year - ended 1 September 2019

Roxanne Kelley PSM

Deputy Secretary

Part year - appointed 16 March 2020

Dr Steven Kennedy PSM

Secretary

Part year - appointed 2 September 2019

Maryanne Mrakovcic

Deputy Secretary

Full year

Meghan Quinn PSM

Deputy Secretary

Full year

Paul Verschuer

Deputy Secretary

Part year - ended 20 March 2020

Damien White

Deputy Secretary

Part year - 24 October 2019 to 18 February 2020

Jennifer Wilkinson

Deputy Secretary

Part year - appointed 28 January 2020

Vicki Wilkinson

Deputy Secretary

Part year - 22 July 2019 to 8 September 2019 and 11 November 2019 to 27 January 2020

Luke Yeaman

Deputy Secretary

Part year - appointed 18 May 2020

In the notes to the financial statements for the period ending 30 June 2020, Treasury disclosed the following KMP expenses:

Note 3.2

2020
$

2019
$

Short-term employee benefits

2,882,755

3,065,587

Post-employment benefits

404,108

443,682

Other long-term employee benefits

72,560

129,644

Termination benefits

224,133

-

Total key management personnel remuneration expenses

3,583,556

3,638,913

In accordance with the PGPA Rule, this information needs to be disaggregated in the annual report as follows:

Name1

Position title

Short-term benefits

Post-employment benefits

Other long-term benefits

Termination benefits

$

Total remuneration

$

Base salary2
$

Bonuses
$

Other benefits and allowances
$

Superannuation contributions
$

Long service leave3
$

Other long-term benefits
$

Simon Atkinson

Deputy Secretary

165,950

-

-

25,511

4,409

-

-

195,871

Matthew Flavel

Deputy Secretary

213,218

-

-

33,530

10,833

-

-

257,580

Philip Gaetjens

Secretary

126,598

-

-

15,601

20,764

-

-

162,964

Roxanne Kelley PSM

Deputy Secretary

124,002

-

-

21,276

3,483

-

-

148,761

Dr Steven Kennedy PSM

Secretary

665,785

-

-

83,462

19,266

-

-

768,513

Maryanne Mrakovcic

Deputy Secretary

413,474

-

17,815

61,455

18,392

-

-

511,136

Meghan Quinn PSM

Deputy Secretary

403,254

-

-

63,360

13,880

-

-

480,494

Paul Verschuer

Deputy Secretary

291,353

-

38,097

37,881

(25,130)

-

224,133

566,334

Damien White

Deputy Secretary

100,269

-

-

15,662

412

-

-

116,343

Jennifer Wilkinson

Deputy Secretary

177,769

-

-

24,668

5,084

-

-

207,521

Vicki Wilkinson

Deputy Secretary

96,365

-

-

15,975

367

-

-

112,707

Luke Yeaman

Deputy Secretary

48,806

-

-

5,726

800

-

-

55,332

Total

2,826,843

-

55,912

404,108

72,560

-

224,133

3,583,556

Notes

1. Includes two (2) employees who have acted in a KMP position in excess of three (3) months during the period.

2. Includes the movement in annual leave entitlements during the period and may include higher duties.

3. Excludes bond rate impact on long service leave.

Senior executive remuneration

During the reporting period ended 30 June 2020, Treasury had 123 senior executives. The following table provides the average remuneration by band for senior executives during the reporting period.

Short-term benefits

Post-employment benefits

Other long-term benefits

Total remuneration

Average Base salary1

$

Average Bonuses

$

Average Other benefits and allowances2,3

$

Average Superannuation contributions

$

Average Long service leave4

$

Average Other long-term benefits

$

Average Termination benefits

$

Average Total remuneration5

$

65,514

-

497

10,520

1,022

-

-

77,553

199,398

-

(146)

30,279

6,630

-

-

236,160

215,382

-

716

31,860

10,526

-

-

258,483

235,332

-

5

34,978

10,885

-

-

281,200

256,891

-

-

38,177

10,635

-

-

305,703

280,786

-

1,276

41,493

8,532

-

-

332,087

299,775

-

-

43,571

12,541

-

-

355,887

301,888

-

5,022

46,627

20,006

-

-

373,543

304,778

-

-

88,323

11,467

-

-

404,568

234,180

-

251,055

38,862

36,988

-

-

561,084

240,140

-

290,163

39,529

7,201

-

-

577,034

206,871

-

376,242

24,765

-

-

-

607,878

236,113

-

349,478

35,918

7,288

-

-

628,798

213,865

-

484,496

30,061

-

-

-

728,423

Notes

1. Includes the movement in annual leave entitlements during the period.

2. Includes, but is not limited to, allowances and benefits received whilst on overseas post.

3. Due to a change made to RMG 138: Commonwealth entities executive remuneration reporting guide for annual reports, Fringe Benefits Tax on benefits that do not result in reportable fringe benefit amounts for employees, including housing benefits provided to staff on overseas posts, is no longer included in the executive remuneration calculation.

4. Excludes bond rate impact on long service leave.

5. The table includes the part year impact of senior executives who either commenced or separated during the year.

Other highly paid staff

The following table provides the average remuneration by band for other highly paid staff during the reporting period.

Remuneration Band

Number of other highly paid staff

Short-term benefits

Post-employment benefits

Other long-term benefits

Average Termination benefits
$

Average Total remuneration
$

Average Base Salary1
$

Average Bonuses
$

Average Other benefits and allowances2,3
$

Average Superannuation contributions
$

Average Long service leave4
$

Average Other long-term benefits
$

$445,001 - $470,000

1

161,222

-

252,578

27,402

5,597

-

-

446,800

$545,001 - $570,000

1

167,864

-

348,320

23,997

7,308

-

-

547,490

Notes

1. Includes the movement in annual leave entitlements during the period.

2. Includes, but is not limited to, allowances and benefits received whilst on overseas post.

3. Due to a change made to RMG 138: Commonwealth entities executive remuneration reporting guide for annual reports, Fringe Benefits Tax on benefits that do not result in reportable fringe benefit amounts for employees, including housing benefits provided to staff on overseas posts, is no longer included in the executive remuneration calculation.

4. Excludes bond rate impact on long service leave.