What does NTFB mean in FUNDS
NTFB stands for National Transport Fund Board. It is a statutory body established under the National Transport Fund Act 2008. The NTFB is responsible for the management and distribution of funds allocated to the National Transport Fund (NTF).
NTFB meaning in Funds in Business
NTFB mostly used in an acronym Funds in Category Business that means National Transport Fund Board
Shorthand: NTFB,
Full Form: National Transport Fund Board
For more information of "National Transport Fund Board", see the section below.
Responsibilities of NTFB
- Manage the NTF: The NTFB is responsible for managing the fund, which is used to support projects that improve Australia's transport system.
- Advise the Minister: The Board advises the Minister for Infrastructure, Transport, Regional Development and Communications on matters relating to the NTF.
- Set Funding Priorities: The NTFB sets funding priorities for the NTF, based on the government's transport policy objectives.
- Conduct Research: The NTFB conducts research and analysis to inform its funding decisions.
Structure and Governance
The NTFB is a 14-member board, appointed by the Minister for Infrastructure, Transport, Regional Development and Communications. The board members come from a range of backgrounds, including government, industry, and academia. The NTFB is required to meet at least four times per year and report annually to the Minister.
Funding
The NTF is funded through a combination of sources, including:
- Budget Appropriations: The government allocates funds to the NTF from the Commonwealth Budget.
- User Charges: The NTF receives revenue from user charges, such as the fuel excise and the registration and license fees for vehicles.
- Other Sources: The NTF may also receive funds from other sources, such as grants and donations.
Final Words: The NTFB plays a critical role in the management and distribution of funds to improve Australia's transport system. The Board's work helps to ensure that the NTF is used effectively and efficiently to meet the government's transport policy objectives.