Plan to reform the State’s financial management framework

The Government sector’s financial management framework will undergo its most substantial reform in more than 30 years through the planned introduction of the Government Sector Finance Bill 2018 (GSF Bill). The GSF Bill will replace, consolidate, and update four separate pieces of legislation that have governed public financial management for more than 30 years, including:

  • Public Finance and Audit Act 1983 
  • Public Authorities (Financial Arrangements) Act 1987
  • Annual Reports (Statutory Bodies) Act 1984 
  • Annual Reports (Departments) Act 1985

The Public Finance and Audit Act 1983 will also be renamed the Government Sector Audit Bill 2018 (GSA Bill), and will be amended to omit those provisions being relocated to the GSF Bill. Only provisions about government sector audits, the Auditor General and the Auditor General’s Office will remain in the GSA Bill.

The GSF Bill has been approved by the NSW Parliament, however it has not yet received assent by the NSW Governor. This is because the GSF Bill is awaiting passage through Parliament of its related or 'cognate' legislation which is the Government Sector Finance Legislation (Repeal and Amendment) Bill 2018. Until both Bills are approved by Parliament and assented to by the NSW Governor, they are not Acts in New South Wales and the Sector should continue following the existing legislation.

This page provides information about the GSF Bill to enable agencies to build familiarity and awareness about the planned legislation. Agencies should note that the fact sheets and other support material relates to anticipated legislation and not the current financial management framework. 

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Fact sheets

Legislation Mapping