Portfolio: Finance
http://www.futurefund.gov.au
$219M
2026-27 Budget (Budget Paper No. 4)$280M
2024-25 Total Revenue200
Headcount (2024-25)Significant downward shift in 2026-27 funding (-67.8%, $460M change). 2025-26 estimated actual $679M → 2026-27 budget $219M. Source: Budget Paper No. 4, Agency Resourcing tables.
Digital ID Program
Department of Finance
Total Budget
$408.2M
Digital Budget
$187.8M
July 2023 — June 2026
The Digital ID program aims to provide Australians with a secure, convenient, voluntary and inclusive way to prove their identity online. Key components include a legislative framework, an Accreditation Scheme, and the Australian Government Digital Identity System. The program will also focus on increasing public awareness and adoption across government and the private sector.
Election Systems Modernisation Program (Indigo)
Australian Electoral Commission
Total Budget
$NFPM
Digital Budget
$NFPM
January 2020 — June 2029
The Indigo Program aims to modernise core ICT infrastructure and systems of the Australian Electoral Commission (AEC) to deliver integrated, secure and modern electoral services that meet community needs and expectations into the future. The replacement of legacy systems with modern technology and infrastructure will enhance and bolster the AEC’s ability to manage security risks and strengthen Australia’s ongoing democratic resilience. Tranche 1 has been delivered, and Tranche 2A is scheduled to be completed in 2027. The AEC will seek authority to come back for a future budget request to undertake Tranche 2B.
Funding and Disclosure Reform Program
Australian Electoral Commission
Total Budget
$NFPM
Digital Budget
$NFPM
March 2025 — June 2028
The purpose of the AEC is to maintain an impartial and independent electoral system for eligible voters. As part of this, the AEC regulates the Commonwealth Funding and Disclosure Scheme. The government has introduced legislative amendments to address recommendations of the Joint Standing Committee on Electoral Matters (JSCEM) related to this scheme. The Funding and Disclosure Reform Program was established in March 2025 to enable the AEC to implement the legislative amendments to the scheme. Under the program, the AEC will develop modern, agile and scalable IT platforms, uplift AEC capability, policy and processes consistent with its evolving regulatory role, and deliver a comprehensive package of communications and guidance to support stakeholders transition to new legislative obligations.
Health Delivery Modernisation (HDM)
Services Australia
Total Budget
$487.6M
Digital Budget
$194.4M
July 2018 — September 2025
The HDM Program stabilised, modernised and transformed the health payments system that underpins Medicare, the Pharmaceutical Benefits Scheme and other health-related programs. The HDM Program delivered new digital health services and established new health transformation capabilities to strengthen and modernise digital health across Australia’s healthcare settings, platforms and systems.
Parliamentary Expenses Management System (PEMS) Enhancement Project
Department of Finance
Total Budget
$11.2M
Digital Budget
$10.6M
July 2024 — June 2026
The PEMS is a digital solution for the management and reporting of human resources and payroll, as well as office and travel expenses for parliamentarians, their staff and the administering agencies. The Enhancement Project is a 2-year initiative that will deliver improvements and efficiencies to the functionality of PEMS.
Polling Place Technology Project
Australian Electoral Commission
Total Budget
$15.5M
Digital Budget
$15.5M
January 2022 — June 2025
This project is delivering enhanced technology to enable expansion of voter and polling place technology, through up to 10,000 laptops accessing an electronic copy of the electoral roll, called an Electronic Certified Lists. Electronic Certified Lists are portable computers deployed to polling places as a replacement to paper certified lists. The program is trialling a ‘digital officer in charge return’ at selected polling locations, which allows results to be transmitted directly into the AEC election management system.
Safely Connecting Australians with Support
Services Australia
Total Budget
$49.5M
Digital Budget
$25.6M
July 2024 — June 2026
Enhancements to the myGov platform to continue to respond to the findings of the Critical National Infrastructure myGov User Audit. This includes enhancements to the myGov support tool, strengthening myGov fraud detection capabilities, improving the myGov inbox and other communication capabilities, and supporting users to better secure their myGov accounts.
Improving transparency of procurement data to support the Buy Australian Plan
Department of Finance
Total Budget
$9.9M
Digital Budget
$9.9M
October 2023 — July 2027
This initiative supports the implementation of the Buy Australian Plan by improving the transparency of Australian Government procurement activity through enhanced AusTender capabilities, including the establishment of a dedicated and integrated panel supplier portal. It is also improving AusTender’s reporting capability to increase transparency.
Overseas Health Practitioner Digital Registration Project (OHPDR)
Services Australia
Total Budget
$15M
Digital Budget
$7.7M
July 2024 — February 2026
Australia is facing a shortage of key healthcare practitioners, putting the health system and existing workforce under pressure. Australians – especially those living in rural and remote areas – are finding it increasingly difficult to access healthcare. Services Australia is delivering the OHPDR as part of the 2024–25 Budget Measure ‘Health workforce’. This is implementing Recommendation 2, Automate the issuance of Medicare provider numbers, of the Final Report of the Independent Review of Australia’s Regulatory Settings Relating to Overseas Health Practitioners. The report, endorsed by National Cabinet, made recommendations to improve health practitioner registration, skill and qualification recognition for overseas trained health professionals and international students who have studied in Australia.
Response to Services Australia Budget and Efficiency Review – the Cyber Security Uplift Project (CSUP)
Services Australia
Total Budget
$NFPM
Digital Budget
$NFPM
July 2024 — June 2025
The CSUP was established to address immediate agency cyber security risk and improve its cyber security maturity.
Service Delivery Office Security and Reliability
Department of Finance
Total Budget
$12M
Digital Budget
$12M
July 2024 — June 2026
The Security and Reliability program will deliver necessary ICT upgrades with a focus on cyber and data capabilities to maintain the security and reliability of the Service Delivery Office, systems which provide corporate shared services to 16 client entities across the APS.
Services Australia Improved Safety for Staff and Customers Phase 2
Services Australia
Total Budget
$362.2M
Digital Budget
$109.8M
July 2024 — July 2026
The project is implementing recommendations of the Security Risk Management Review to strengthen security and safety measures for Services Australia staff and customers. The 2024–25 Budget committed an additional $314.1 million over 2 years to implement some of the remaining recommendations of the review in full, strengthening security and safety measures to achieve sustained benefits for Services Australia staff and customers (Phase 2). A total of 14 review recommendations will be implemented in full with government funding (via 7 registered projects) and the remaining 30 recommendations with existing agency resources.
Strengthening Medicare - Chronic Wound Consumables Scheme for Patients with Diabetes
Services Australia
Total Budget
$16.7M
Digital Budget
$10.4M
June 2023 — June 2026
This project is improving the management of wounds for patients in primary care settings by providing education and training for healthcare professionals and providing fully subsidised wound consumable products to people with chronic wounds. The pilot phase of this project is limited to people with a chronic wound and diabetes who are aged 65 and over (or aged 50 and over for First Nations people). If the pilot is successful, the program may be expanded to all Australians with chronic wounds.
8 tagged
Reform proposals on YourGov that name this department as a delivery partner — drawn from citizen voice, government strategy, research, international examples and gap analysis.
STRATEGY SUMMARY
Investing for the benefit of future generations of Australians. [CP p.12]
PURPOSE
Investing for the benefit of future generations of Australians. [CP p.12]
Strategic priorities
· 4
Refresh the investment model
Mature the organisation
Preserve our legacy
Expand our voice
Outcomes
· 4
Outcome 1: Investment performance
The ultimate priority for the Agency is generating strong, long-term investment performance. [CP p.18]
KEY ACTIVITIES
Outcome 2: Organisational maturity
The Agency recently entered a new period of growth and development. This requires a deliberate focus on prudently maturing the organisation to ensure we are best-positioned to achieve our strategy and purpose going forward. [CP p.20]
KEY ACTIVITIES
Outcome 3: Legacy preservation
The Agency has been very intentional about building and fostering a high-performing and unique team culture over the last 16 years. Retaining and building on the strong existing culture is pivotal to our success as we continue to evolve and enter a new period of growth and maturity. [CP p.20]
KEY ACTIVITIES
Outcome 4: Stakeholder engagement
This area of focus prioritises the expansion and deepening of our business and stakeholder connections and networks. We aim to achieve this by contributing to insightful and valuable discussions about relevant investment matters with our stakeholders. [CP p.21]
KEY ACTIVITIES
Values
· 9
Focus on what matters
Do the right thing
Work together
Investment performance is our focus
Collaborate
Facilitate
Innovate
Deliberate
Inclusion
Performance measures
· 1
| Code | Measure | Target 2025-26 | Latest result | Status |
|---|---|---|---|---|
CCE01 | Investment performance | Stability or improvement | Target met Annual Report 2021-22 | Achieved |
Source documents
· 5
2021-22
2021-22 Future Fund Annual Report
Open
2020-21
2020-21 Future Fund Annual Report
Open
2019-20
2019-20 Future Fund Annual Report
Open
2018-19
2018-19 Future Fund Annual Report
Open
2017-18
2017-18 Future Fund Annual Report
Open
Ideas distilled from this entity's strategy & evidence
· 8
Enhance data transparency for fund stakeholders
Implement a real-time dashboard to provide more detailed and transparent data on fund performance and investment strategies.
2021-22.pdf
Adopt AI for advanced risk analysis
Integrate AI-driven tools to enhance the accuracy and timeliness of risk assessments for investment portfolios.
association-worldbank.org-governance.txt
Streamline fund reporting processes
Simplify and streamline the fund reporting processes to reduce administrative burden and improve accuracy.
2021-22.pdf
Enhance communication with external investors
Enhance communication channels with external investors to provide timely updates and feedback mechanisms.
2021-22.pdf
Adopt green investment strategies
Incorporate sustainable and environmentally responsible investment strategies into the fund’s portfolio.
university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt
Optimize procurement processes
Optimize procurement processes to reduce costs and improve efficiency.
2021-22.pdf
Implement staff wellbeing program
Introduce a staff wellbeing program to improve morale and productivity.
2021-22.pdf
Adopt global best practices in fund management
Adopt global best practices in fund management to improve overall performance and efficiency.
consulting-deloitte.com-government-public.txt
Enhance data transparency for fund stakeholders
Implement a real-time dashboard to provide more detailed and transparent data on fund performance and investment strategies.
2021-22.pdf
Adopt AI for advanced risk analysis
Integrate AI-driven tools to enhance the accuracy and timeliness of risk assessments for investment portfolios.
association-worldbank.org-governance.txt
Streamline fund reporting processes
Simplify and streamline the fund reporting processes to reduce administrative burden and improve accuracy.
2021-22.pdf
Enhance communication with external investors
Enhance communication channels with external investors to provide timely updates and feedback mechanisms.
2021-22.pdf
Adopt green investment strategies
Incorporate sustainable and environmentally responsible investment strategies into the fund’s portfolio.
university-ash.harvard.edu-Harvard-Kennedy-School-Ash-Center.txt
Optimize procurement processes
Optimize procurement processes to reduce costs and improve efficiency.
2021-22.pdf
Implement staff wellbeing program
Introduce a staff wellbeing program to improve morale and productivity.
2021-22.pdf
Adopt global best practices in fund management
Adopt global best practices in fund management to improve overall performance and efficiency.
consulting-deloitte.com-government-public.txt
Legislation administered
· 6
2015
Medical Research Future Fund Act 2015
The entity administers the Medical Research Future Fund and sets its investment mandate.
2018
Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018
The entity administers the Aboriginal and Torres Strait Islander Land and Sea Future Fund and sets its investment mandate.
2019
Future Drought Fund Act 2019
The entity administers the Future Drought Fund and sets its investment mandate.
2019
Emergency Response Fund Act 2019
The entity administers the Emergency Response Fund and sets its investment mandate.
2013
DisabilityCare Australia Fund Act 2013
The entity administers the DisabilityCare Australia Fund and sets its investment mandate.
Source library
· 10
4.4MB
2021-22.pdf
2.1MB
2020-21.pdf
1.8MB
2019-20.pdf
18.3MB
2018-19.pdf
9.3MB
2017-18.pdf
7.2MB
FFMA-202024-25-20Annual-20Report.pdf
3.9MB
2024-25-20Future-20Fund-20Year-20in-20Review.pdf
2.1MB
2023-24-20Future-20Fund-20Year-20in-20Review.pdf
4.5MB
2022-23-20Future-20Fund-20Year-20in-20Review.pdf
4.0MB
2023-24-20Future-20Fund-20Annual-20Report.pdf
Bodies within the Finance portfolio
CEA Technologies Pty Limited
Commonwealth Company
Parliamentary Workplace Support Service (PWSS)
Non-corporate Commonwealth Entity
Australian Naval Infrastructure Pty Ltd
Commonwealth Company
Independent Parliamentary Expenses Authority
Non-corporate Commonwealth Entity
Digital Transformation Agency
Non-corporate Commonwealth Entity
Services Australia
Non-corporate Commonwealth Entity
Commonwealth Superannuation Corporation
Corporate Commonwealth Entity
Australian Electoral Commission
Non-corporate Commonwealth Entity
ASC Pty Ltd
Commonwealth Company
National Data Advisory Council
Statutory Body
Future Fund Board of Guardians
Statutory Body
Commonwealth Superannuation Scheme
Statutory Body