Government Sector Finance Act 2018

Annual Reporting under the Government Sector Finance Act 2018

On 1 July 2023, annual reporting provisions in the Government Sector Finance Act 2018 (GSF Act) commenced.

Accordingly, reporting GSF agencies (including universities) must prepare their annual reports under the GSF Act, starting from annual reports for the FY 2022-23 (or calendar year 2023 where applicable, e.g. for universities).

Please refer to the Treasury’s Annual Reporting webpage for more information.

Consultation Paper - Financial and Annual Reporting Framework April 2024

Treasury is proposing a framework to support the legislative requirements for identifying which GSF agencies prepare financial and annual reports.

The consultation paper proposes a holistic financial reporting and annual reporting framework. This includes a set of criteria, supplementary to the legislative requirements, to determine which groups of GSF agencies prepare financial and annual reports, and, if so, what form of reports. The paper proposes a differential reporting framework whereby agencies will sit in one of three reporting groups.

View the consultation paper

NSW Treasury is reviewing feedback and commentary from GSF agencies and other entities subject to the reporting provisions of the GSF Act (i.e. departments, agencies, statutory bodies, universities and State Owned Corporations), together with a range of other expert stakeholders.

Following consideration of the feedback received from this consultation, Treasury will keep the sector updated on progress and development of new and/or updated Treasurer’s directions and Treasury Policy and Guidance (TPGs), and any required amendments to the GSF Act Regulation 2018.