Department of Treasury and Finance (Victoria)
The Department of Treasury and Finance, often informally referred to as the Treasury, is a government department in Victoria, Australia.
One of Victoria's oldest public institutions, the Treasury has existed in various forms throughout Victorian history. It is currently responsible for the state's economic and fiscal policy, taxation and delivery of the budget.
History
The Department of Treasury and Finance can trace its origins to the earliest days of the settlement that became the State of Victoria. The department is one of Victoria’s oldest institutions, predating the Parliament of Victoria by more than a decade.As well as being involved in collecting revenue from land sales and customs duty, the treasury became the principal agency responsible for the sale and safe storage of gold extracted from Victoria’s mines in the second half of the nineteenth century.
The building of the treasury, along with other civic offices like the Parliament, Customs House, and Post Office, was a reaction by authorities who wanted to display state power in Melbourne because of fears of public disorder following the gold rush.
Buildings
The Department of Treasury and Finance performs its operations in two main buildings:- 1 Treasury Place
- 1 Macarthur Street
Before 1878, the Victorian Treasury was situated at the corner of Spring Street and Macarthur Street. When the state treasurer and his officers moved to Treasury Place, the old building was renamed the Old [Treasury Building, Melbourne|Old Treasury]. Old Treasury was widely regarded as the finest 19th century public building in Australia. Upstairs in the building, Treasury officials kept the colony’s accounts. Below, in the basement, were bluestone vaults for storing the gold sent by government escort from the goldmining fields.