TPG25-03 Financial reporting code for NSW General Government Sector agencies
The Financial Reporting Code for NSW General Government Sector Entities (the Code) sets out the financial reporting framework for all New South Wales General Government Sector (NSW GGS) entities. The Code provides a model financial reporting framework which promotes consistency across the NSW GGS. The Consolidated Financial Statements of New South Wales report on the General Government Sector (GGS) entities and the Total State Sector. Similarly, the NSW Budget Papers focus on the GGS.
Category: Treasury Policy and Guidelines (TPG) Topic: Financial Management Date: 20 March 2025 Status: CurrentTPG25-02 Mandates of options and major policy decisions under Australian Accounting Standards
Australian Accounting Standards provide certain accounting policy options. This TPG updates the mandates of accounting policy options and major policy decisions for recent amendments to Australian Accounting Standards and Treasury requirements.
Category: Treasury Policy and Guidelines (TPG) Topic: Financial Management Date: 20 March 2025 Status: CurrentGuidance on the application of AASB 2022-10 Amendments to Australian Accounting Standards – Fair Value Measurement of Non-Financial Assets of Not-for-Profit Public Sector Entities
This guidance relates to AASB 2022-10 Amendments to Australian Accounting Standards – Fair Value Measurement of Non-Financial Assets of Not-for-Profit Public Sector Entities (AASB 2022-10). AASB 2022-10 amends AASB 13 Fair Value Measurement (AASB 13), including adding authoritative implementation guidance and providing related illustrative examples, for fair value measurements of non-financial assets of not-for-profit public sector entities not held primarily for their ability to generate net cash inflows.
The content of this guidance will be included in an updated version of TPP21-09 Valuation of Physical Non-Current Assets at Fair Value (TPP21-09). Treasury intends to make consequential amendments to ensure that publication is consistent with this guidance.
AASB 2022-10 has been fully compiled into AASB 13. Therefore, paragraph references in this guidance are to AASB 13.
Category: General Topic: Accounting Policy Date: 20 March 2025General Government Financial Statements – 31 January 2025
This monthly statement is released in compliance with section 7.15 of the Government Sector Finance Act 2018 (GSF Act).
That section requires budget time projections and year-to-date balances for the major General Government Sector aggregates disclosed in the Budget to be published for each month.
Budget Paper No. 1 Budget Statement contains the full details of the 2024-25 Budget, as well as budget scope and other explanatory information. The financial statements presented are prepared in accordance with Australian Accounting Standard AASB 1049 Whole of Government and General Government Sector Financial Reporting.
Figures in tables have been rounded. Discrepancies between totals and sums of components reflect rounding.
Figures rounded to zero will appear as zero (0). True zero are shown by ellipses (…).
Category: Financial Reports Topic: Economic and Financial Appraisal, Reporting, Financial Management Date: 27 February 2025TPG25-01: Agency Direction for the 2024-25 Mandatory Early Close
This NSW Treasury Policy and Guidelines (TPG) defines the minimum requirements for the 2024-25 Early Close.
The objectives of this TPG are as follows:
- to identify the principles, practices, arrangements and procedures to be applied or followed by Agencies and their Chief Financial Officers to enable Consolidated government sector reporting to be prepared in accordance with Division 7.4 of the GSF Act;
- to enhance the efficiency of the financial reporting process and promote early identification and resolution of accounting issues; and
- to facilitate timely completion and improve the quality of government sector reporting.
This TPG outlines procedures to achieve the above objectives and facilitate early dialogue with Treasury and the Audit Office on significant accounting issues. These procedures form good practice that should in any case be carried out at appropriate points in the financial year. Agencies may wish to perform additional procedures as part of a strategy to improve the quality and timeliness of financial reporting.
Certain Agencies are participating in the 2024-25 Hard Close pilot with the effect that some procedures and due dates differ compared to the regular Early Close process.
Category: Treasury Policy and Guidelines (TPG) Topic: Accounting Policy Date: 26 February 2025 Status: CurrentTPG24-31 Benefits Management Guide
Benefits management works best when applied early to help define a problem and identify options that align with initiative objectives. In line with the development of a business case, it supports refinement and comparison of options, and establishment of a monitoring and evaluation approach. Following investment decision, it tracks performance and is used to inform evaluation.
Category: Treasury Policy and Guidelines (TPG) Topic: Financial Management, Governance, Risk & Audit Date: 19 February 2025 Status: CurrentTPG24-01 Management of NSW Government Payments
This Treasury Policy and Guidelines sets out GSF agency requirements for the State to achieve payment reform outcomes for:
- receiving payments from citizens and businesses,
- making payments to citizens, businesses, and suppliers and,
- additional supplier payments.
General Government Financial Statements – 31 December 2024
This monthly statement is released in compliance with section 7.15 of the Government Sector Finance Act 2018 (GSF Act).
That section requires budget time projections and year-to-date balances for the major General Government Sector aggregates disclosed in the Budget to be published for each month.
Budget Paper No. 1 Budget Statement contains the full details of the 2024-25 Budget, as well as budget scope and other explanatory information. The financial statements presented are prepared in accordance with Australian Accounting Standard AASB 1049 Whole of Government and General Government Sector Financial Reporting.
Figures in tables have been rounded. Discrepancies between totals and sums of components reflect rounding.
Figures rounded to zero will appear as zero (0). True zero are shown by ellipses (…).
Category: Financial Reports Topic: Economic and Financial Appraisal, Reporting, Financial Management Date: 29 January 2025General Government Financial Statements – 30 November 2024
This monthly statement is released in compliance with section 7.15 of the Government Sector Finance Act 2018 (GSF Act).
That section requires budget time projections and year-to-date balances for the major General Government Sector aggregates disclosed in the Budget to be published for each month.
Budget Paper No. 1 Budget Statement contains the full details of the 2024-25 Budget, as well as budget scope and other explanatory information. The financial statements presented are prepared in accordance with Australian Accounting Standard AASB 1049 Whole of Government and General Government Sector Financial Reporting.
Figures in tables have been rounded. Discrepancies between totals and sums of components reflect rounding.
Figures rounded to zero will appear as zero (0). True zero are shown by ellipses (…).
Category: Financial Reports Topic: Economic and Financial Appraisal, Reporting, Financial Management Date: 20 December 2024TPG24-34 Carbon emissions in the Investment Framework
This document sets out the NSW Government Investment Framework requirements on carbon emissions. It also presents the carbon values that NSW Government agencies must use when valuing carbon emission impacts in cost-benefit analysis (CBA).
This set of carbon values is a non-market ‘shadow price.’ It is designed for internal use in government decision-making and will not impact the price of goods and services in the broader economy.
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Last updated: 28/02/2022