The Financial Management Group provides advice and assistance to the government and government departments to establish, negotiate, and review funding agreements between the Commonwealth and Territory governments.

The Intergovernmental Agreement on Federal Financial Relations (IGA) is the framework for the majority of funding agreements between the Commonwealth and the Northern Territory. It aims to enhance government service delivery, facilitate nationally important social and economic reform, streamline administrative arrangements for the funding agreements and enhance reporting of progress against agreement outcomes.

National Agreements (NAs) have been established in the areas of healthcare, education, skills and workforce development, affordable housing, disability and Indigenous reform. Specific Purpose Payments (SPPs) are provided to states and territories to assist them to achieve the outputs and outcomes of the NAs. While the five SPPs (health, schools, skills and workforce development, affordable housing and disability) are required to be spent in their sectors, all are considered to also contribute to Indigenous reform.

National Partnerships Agreements (NPAs) are predominantly short-term vehicles for reform and/or projects of national importance. Funding for NPAs is predominantly through National Partnership Payments.

Where Territory-specific arrangements are required that are not articulated in NPAs, Implementation Plans (IPs) are negotiated between the Commonwealth and the Territory.