The portfolio

Following is an overview of the Finance portfolio and a summary of changes that occurred in 2016–17.

Portfolio ministers

The following ministers and assistant ministers were responsible for the Finance portfolio and its agencies during 2016–17:

Senator the Hon Mathias Cormann,
Minister for Finance (from 18 September 2013); Special Minister of State (from 18 February to 19 July 2016)

Senator the Hon Scott Ryan,
Special Minister of State (from 19 July 2016)

The Hon Dr Peter Hendy MP,
Assistant Minister for Finance (from 18 February 2016 to 2 July 2016).

Portfolio structure, 30 June 2017

The portfolio structure at 30 June 2017 was as follows:

Department of State

Department of Finance
Secretary: Rosemary Huxtable PSM

Non-corporate Commonwealth entities

Australian Electoral Commission
Electoral Commissioner: Tom Rogers

Future Fund Management Agency
Chair: The Hon Peter Costello AC
Chief Executive Officer: David Neal

Corporate Commonwealth entity

Commonwealth Superannuation Corporation
Chair: Patricia Cross
Chief Executive Officer: Peter Carrigy-Ryan

Commonwealth company

ASC Pty Ltd
Chair: Bruce Carter
Interim Chief Executive Officer: Stuart Whiley
Chief Executive Officer—ASC: Mark Lamarre

Changes to the portfolio in 2016–17

On 1 December 2016 certain corporate functions being performed by the then Shared Services Centre (a joint initiative of the Department of Education and Training and the Department of Employment) were transferred to Finance, taking the form of the Service Delivery Office.

On 15 December 2016 Finance transferred certain ICT and other functions to the Digital Transformation Agency.

On 13 January 2017, the government announced the establishment of an Independent Parliamentary Entitlements Authority (IPEA). From 3 April 2017 an interim IPEA was created as an executive agency which performed the functions of IPEA until the permanent agency commenced operations on 1 July 2017.

Last updated: 06 November 2017