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GOVERNMENT DEPARTMENTS
No. 2--Treasury Actlvities
LIFEBLOOD OF SERVICE
The Treasury might be described as
the lifeblond of the.Government ser
vice. In the final analysis practically
all Government activities resolve them
selves into matters .of finance and
eventually come within its ambit.
Treasury work is divided into four main
classes, namely, revenue accounts,. loan
accounts, Agent-General, and miscel
laneous..
Revenue accounts are chcerned with all
items of Government expenditure which
become a debit against the yearly re
venue, also the items of revenue which
are raised to meet that expenditure. This
work culminates in the 'preparation of the
Budget, which is presented to Parliament
by the Treasurer each year.
The Budget gives a forecast of all items
of expenditure which it is anticipated
will occur during, the financial year,
also the methods by which it is proposed
to raise the required revenue.
In the first instance sub-estimates o0
revenue and expenditure are received from
departments, and are carefully scrutinised
by the Treasurer to see in what direction
expenditure can be reduced or if neces
sary increased.
ALL DETAILS REVIEWED
The Estimates deal with a tremendous
amount of detail. Subject to Minis
terial direction, all items are reviewed
and scheduled by officers, and finally pre
sented to Parliament in the form of a
printed Parliamentary Paper.
The total estimated expenditore.for the
financial year 1929-30 amounted to
£11,275,000. This figure is the aggregate
of a vast number of small. items, so it
can be realised-that the work imposed
on Treasury officials is exceedingly
heavy.
In addition Treasury officers are respon
sible for the preparation of a Budget
Speech, and the financial statements
which accompany it,
HIGH STANDARD OF EFFICIENCY
Work of the accounts branch of the
Treasury has been brought up to a high
standard of efficiency, and at present com
plete balances of the whole of the State
accounts dre made every month, and a bal
ance sheet prepared,
The raising of loan money to finance
work forms a distinct branch. Sanctioning
of loans which have to be raised pursuant
to Acts of Parliament is a matter for ap
proval b-' the Treasurer, and negotiations
are performed by Mr. R. R. Stuokey
(Under-Treasurer) and Mr. W. Laycock
(Assistant Under-Treasurer).
Borrowing of money involves the pay
MR. R. . RsTUCKEY Under-Treasurer, whose department covers manifold activities relating to finance. Help
MR. R. . RsTUCKEY
Under-Treasurer, whose department
covers manifold activities relating to
finance.
ment of interest. This is an important
part of the work of the Public Debt De
partment, Approximately 700 interest war
rants are issued each fortnight. The
total public debt is approximately
£92,000,000, so that the correct keeping of
the stock ledgers of the State is a work
of magnitude.
The Agent-General acts as Treasury
representative in Britain. Whenever a loan
is to be raised in London negotiations are
conducted through him. Other miscel
laneous activities are conducted by the
Treasury.
Since Mr. Stuckey began the duties of
Under-Treasurer greater efficiency has
resulted from the modernisation of the
general system of State finance.
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