Departmental and Portfolio Overview
The Finance and Deregulation Portfolio includes the Department of Finance and Deregulation (Finance) and a number of other agencies and bodies including the Australian Electoral Commission, the Australian Reward Investment Alliance, ComSuper and the Future Fund Management Agency. A diagrammatic representation of the portfolio at 30 June 2009 is at Figure A.
Finance’s responsibilities are set out in the Administrative Arrangements Order of 25 January 2008 and the amendment of 1 May 2008 and comprise:
- budget policy advice and process, and review of governmental programs;
- government financial accountability, governance and financial management frameworks, including procurement policy and services;
- shareholder advice on Government Business Enterprises (GBEs) and commercial entities treated as GBEs;
- reducing the burden of government regulation;
- general policy guidelines for Commonwealth statutory authorities;
- superannuation related to former and current Members of Parliament and Australian Government employees;
- asset sales;
- strategic management of non-Defence Commonwealth-owned property in Australia, including construction, major refurbishment, acquisition, ownership and disposal of real property;
- electoral matters;
- administration of Parliamentarians’ entitlements;
- administration of the Australian Government’s self-managed general insurance fund (Comcover);
- government on-line delivery and information technology and communications management;
- evaluation and audit of Indigenous programs and operations;
- advice on the Future Fund; and
- the central advertising system.
Figure A: Finance and Deregulation Portfolio Overview at 30 June 2009
Text description of Figure A: Finance and Deregulation Portfolio Overview at 30 June 2009
- On 16 June 2009 the Assistant Treasurer was authorised to act on behalf of the Minister for Finance on matters relating to Act of Grace payments and waivers of debt under the FMA Act. Prior to 16 June 2009, the Minister for Superannuation and Corporate Law was responsible for these matters.
- On 27 May 2009, the Telstra Sale Company Limited was deregistered.
- On 1 April 2009, Health Services Australia (previously in the Human Services portfolio) became a wholly owned subsidiary of Medibank Private Limited.
- On 4 December 2008, Tuggeranong Office Park Pty Limited was transferred to the Commonwealth and became part of the Finance portfolio.
- On 1 July 2009 the Albury-Wodonga Development Corporation became a Commonwealth authority under the CAC Act.