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My Rankings / Finance Portfolio ·Ranked #35

Department of Finance

B
Good
Annual Budget
$800M
Estimated Waste
$121M
ROI Grade
B — Good
Staff
2,800
Fiscal Year
2025-26
I tracked $800M/yr in spending by Department of Finance. Here's what the data shows. ROI Grade: B.
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What I found on this entity
Annual Budget
$800M
Headcount
2,800 staff
$286K per employee
Portfolio
Finance
Performance Targets vs Actuals
Target
Commonwealth property portfolio cost-per-sqm under $450; APS headcount reporting accuracy 98%; Comcover insurance portfolio efficiency
Actual
Cost-per-sqm $487; APS reporting accuracy 96.1%; Comcover claims ratio 94%
Source: Property management over-budget. Outputs largely administrative.
My Findings & Evidence 3 findings
AusTender 15 June 2024
$78M wasted
$78.1M limited tender to PwC for financial management review
The Department of Finance handed PwC Australia a $78.1 million contract for a whole-of-government financial management review using limited tender — meaning other firms weren't given a fair go to compete. For a department that writes the rules on competitive procurement, bypassing open tender on a contract this size raises serious questions about whether taxpayers got value for money.
AusTender — PwC Financial Management Review ↗
ANAO 15 June 2024
$847M wasted
$847M in government contracts lacked proper documentation — Finance's own backyard
The ANAO found that $847 million worth of Commonwealth procurement contracts were missing adequate documentation, and 43% of limited tenders lacked proper justification. The Department of Finance is the very agency responsible for setting procurement rules — yet $2.1 billion in limited tender contracts were awarded under its watch without meeting its own standards. That's your money spent with less scrutiny than most Australians face buying a car on finance.
ANAO: Management of Commonwealth Procurement (2024) ↗
AusTender 1 Feb 2024
$7M wasted
$6.8M McKinsey engagement — direct source with no open tender
Finance directly sourced $6.8 million in management consulting from McKinsey for digital transformation strategy, bypassing open tender requirements entirely. Direct source procurement for one of the world most expensive consulting firms. The process designed to avoid competition.
AusTender CN-3856789 ↗
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My Published Investigations 2 investigations
ABUSE $2.1B
$2.1 billion in government contracts handed out without competition — no bids, no questions
Read full investigation →
ABUSE $697M
PwC Donated $270K to Labor and Liberal — Then Bagged $700M in Advisory Contracts, Including Confidential Tax Reform Work
Read full investigation →
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