Closing the Gap - Northern Territory - financial management - additional funding

Closing the Gap - Northern Territory - financial management - additional funding


Financial Management Support Services


Department of Families, Housing, Community Services and Indigenous Affairs; Centrelink; Department of Human Services; Department of Finance and Deregulation

Key Elements

The Australian Government will provide $4.9 million in 2009-10 to continue practical and essential financial management support services implemented in 2008-09 to support welfare payment reforms in the Northern Territory.

This funding will allow the continuation of the money management education and support services established in 2008-09 in Darwin, Alice Springs, Hermannsburg, Groote Eylandt, Wadeye, Central Desert, Barkly, Katherine Town Camps, Laynhapuy Homelands and Maningrida.  These services provide outreach to prescribed communities across the Northern Territory.

The funding will also allow the continuation of three financial counsellor positions and local financial counselling trainees engaged in 2008-09.

Client outcomes are improved through budgeting, money management education and financial crisis support and increased capacity of service providers to link with relevant services to reduce financial stress.  These services aim to help Australians deal with crisis and build capacity and resilience to be able to better use their money for the wellbeing of their children.

Background

In recognition of the important role that financial management support services play in supporting welfare payment reform the Government funded a range of new and expanded services in 2008-09 to help people in prescribed communities build financial capability and resilience. 

Services are free, voluntary and confidential and open to everyone, however, people who are being income managed are given priority.

Money management services are delivered in remote locations with high Indigenous populations, with assistance from a small number of financial counsellors to help with complex issues. 

Financial counselling and money management information and education are service strategies funded under the Financial Management Program (FMP).  The FMP is an ongoing program that aims to build financial resilience and wellbeing for vulnerable people.

The FMP helps people across a range of income and financial literacy levels to manage their money, overcome financial adversity, participate in the social and economic lives of their communities and plan for the medium to long term. 

Government priorities supported by the FMP include the response to the global financial crisis, welfare payment reform (including income management), Closing the Gap, social inclusion, protection of children at risk, gender equality, housing and problem gambling. 

Implementation

The measure will commence on 1 July 2009.

Financial management support services are delivered by non-government organisations.

Total Government Funding

$4.9 million in 2009-10.

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