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TPG25-01: 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:

1. 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;
2. to enhance the efficiency of the financial reporting process and promote early identification and resolution of accounting issues; and
3. 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.

TPG24-33 Reporting framework for first year climate-related financial disclosures

This reporting framework sets out the minimum content requirements for the first year of mandatory climate-related financial disclosures for an entity. It also provides suggestions on how entities should approach their disclosures.

TPG24-23 Accounting for Long Service Leave and Annual Leave

TPG24-17: Agency Direction for the 2023-24 Mandatory Annual Returns to Treasury

This NSW Treasury Policy and Guidelines (TPG) adopts and incorporates the TD21-02 Mandatory Annual Returns to Treasury, including the defined terms which also apply to this TPG.

The TPG provides additional guidelines to Agencies relating to Annual Returns to be submitted to Treasury and outlines procedures completed at an interim date under the Treasurer’s Direction on Mandatory Early Close as at 31 March each year (TD19-02) that must be updated and finalised as part of the Annual Returns.

This TPG also describes a number of procedures to confirm that key controls over Agency balances are carried out. These procedures form good practice that should in any case be carried out at appropriate points in the financial year.

TPG24-16: Agency guidelines for the 2023-24 mandatory annual returns to Treasury for NSW public sector agencies that are not included in TD21-02

This NSW Treasury Policy and Guidelines (TPG) adopts and incorporates the TD21-03 Submission of Annual GSF Financial Statements for NSW public sector agencies that are not included in TD21-02, including the defined terms which also apply to this TPG. This TPG provides additional guidelines to Agencies relating to Annual Returns to be submitted to Treasury.

TPG24-14 Guidance - Accounting for Bid Cost Contributions

The purpose of this non-mandatory guidance is to assist agencies in determining whether bid cost contributions made in relation to property, plant and equipment constructed by third parties:

• qualify for capitalisation under AASB 116 Property, Plant and Equipment (AASB 116),
• qualify for capitalisation under another accounting standard; or
• should be expensed.

TPG24-03: Agency Direction for the 2023-24 Mandatory Early Close

This NSW Treasury Policy and Guidelines (TPG) adopts and incorporates the Treasurer’s Direction TD19-02 Mandatory Early Close as at 31 March each year, including the defined terms which also apply to this TPG.

TPG23-21 Determining the present value of a provision

For provisions where settlement is expected to be deferred for some time, various accounting standards require the liability to be measured at present value. The purpose of this Treasury Policy and Guidelines (TPG) is to provide consistency and comparability across the NSW Public Sector and the Total State Sector Accounts when determining the present value of a provision.

TPG23-14: Agency guidelines for the 2022-23 mandatory annual returns to Treasury for NSW public sector agencies that are not included in TD21-02

Replaced by TPG24-16. 

Agencies are required to submit financial statements for the year ended 30 June 2023.

This Treasury Policy and Guidelines applies to NSW public sector agencies (listed in Appendix A) that are not included in TD21-02.

TPG23-13 Agency Direction for the 2022-23 Mandatory Annual Returns to Treasury

Replaced by TPG24-17.

This NSW Treasury Policy and Guidelines (TPG) adopts and incorporates the Treasurer’s Direction TD21-02 Mandatory Annual Annual Returns to Treasury (TD21-02), including the defined terms which also apply to this TPG.