The Treasury business plays a central role in managing Western Australia’s public sector finances and in providing expert analysis and advice on the strategies and frameworks necessary for maintaining the State’s economic and financial position. This includes the development of economic and revenue forecasts, and the on-going monitoring of developments in the State’s economy and major revenue bases.
In very broad terms, Treasury has two main roles: a budget management role and a policy advisory role.
In undertaking the budget management role, Treasury works with every State government agency at the various stages of the annual budget cycle. This includes a key financial monitoring and reporting role, to ensure that the State remains on track in respect of the Government’s budget objectives and policies. Supporting the Treasurer in the development of the State’s annual budget is one of the prime deliverables of the Department of Treasury. A major aim of this activity is to assist Government achieve value for money outcomes for the taxpayers of Western Australia.
Our policy advisory role covers a wide range of issues, including public sector wages policy, competition policy, public sector superannuation policy, and advice on alternative models of service delivery and infrastructure provision, including Public-Private Partnerships (PPPs). PPPs describe models of procurement that unite the public and private sectors in the delivery of infrastructure and related public services. A specialist team within Treasury advises Government on PPP procurement at all stages from procurement options analysis to contract management.