The Treasury Building was erected by the Public Works Department (PWD) from 1857-62. The contractor was R Huckson. It consists of three floors with basement and is faced with Bacchus Marsh freestone. The building as we know it is not identical to that designed by J J Clark in 1857. Austerity measures in the P W D initiated by Wardell in 1859 resulted in the removal of the attic floor and roof balustrade. The terraces and approaches were constructed in 1867.
Despite alterations to its design, the Treasury remains the finest conservative classical style building in Australia and a masterpiece of the architect, John James Clark, and the PWD. The recessed arcade is the principal feature of the building and the motifs used are derived from the Italian Renaissance and mannerist periods. The freestone facades which have mellowed beautifully with age are finely executed. The building terminates Collins Street and is surrounded by handsome terraces and lamp standards.
The Treasury Building is intact and in excellent condition.