NSW Treasury leads the economic, jobs and investment conversation across New South Wales (NSW). From its position at the centre of government, Treasury drives the economic development strategy to guide the State’s growth for the benefit of the people who live, work and study in NSW. Its work includes boosting trade, investment and tourism, developing industry, supporting jobs growth, improving service delivery to the community and increasing living standards, now and into the future.
Treasury’s work is underpinned by four Pillars: our Economic Blueprint, which builds on our significant achievements to date to set out the long-term strategies for our next phase of economic growth; Balance Sheet Management – the NSW Generations Fund (NGF), seeded with $10 billion in 2019 and expected to grow to more than $28 billion over the next decade;
Federal Financial Relations – David Thodey AO and an expert panel are providing a NSW perspective on the sustainability of the federal funding system; and Planning for Outcomes – sector-wide reform integrating outcome-focused target setting to improve alignment and effectiveness of agency budgets towards the delivery of State outcomes.
Our core responsibilities
Management of NSW finances
- consistent collection and consolidation of financial information from public entities
- strong financial management through accurate data, analysis and advice
- stewardship of the public sector financial system to enable delivery of outcomes
- effective delivery of the Budget, Total State Sector Accounts and other financial reports, on behalf of the Treasurer.
Analysis, advice and delivery
- informed fiscal, economic, commercial and financial policy advice
- innovative reforms which support a strong and competitive economy
- robust risk management and governance frameworks.
Management of NSW assets
- value-creating commercial and financial transactions
- respected commercial, financial and service delivery reforms
- market-leading analysis and advice on private financing of public infrastructure
- managing, monitoring and advising on the efficiency and effectiveness of public sector commercial agencies.
Primary legislation administered by NSW Treasury
Treasury administers a large range of Acts and regulations on behalf of the Treasurer. The following Acts constitute the primary legislation which governs most of the agency’s core business.
- Annual Reports Acts (Departments, 1985; Statutory Bodies, 1984)
- Fiscal Responsibility Act 2012
- Long Service Corporation Act 2010
- Public Finance and Audit Act 1983
- Public Authorities (Financial Arrangements) Act 1987
- Government Sector Employment Act 2013 (Part 4, Division 6, jointly with the Premier)
- Appropriation Act 2014 Appropriation (Budget Variations) Act 2014
- Appropriation (Parliament) Act 2014
- Restart NSW Fund Act 2011
- Annual Holidays Act 1944
- Long Service Leave Act 1955
- Public Holidays Act 2010
As a department in the NSW Public Sector, Treasury has administrative responsibility for the following entities up until 30 June 2019:
- Alpha Distribution Ministerial Holding Corporation
- Electricity Assets Ministerial Holding Corporation
- Electricity Transmission Ministerial Holding Corporation
- Epsilon Distribution Ministerial Holding Corporation
- Liability Management Ministerial Corporation
- Ministerial Holding Corporation
- Ports Assets Ministerial Holding Corporation
- State Rail Authority Residual Holding Corporation
Treasury also administers the Crown Entity which manages assets, liabilities and transactions that cover matters relevant to the government rather than any individual agency.
The following entities fall within the Treasury cluster:
- Treasury Corporation (TCorp)
- SAS Trustee Corporation
- icare (Insurance and Care NSW)
- Port of Newcastle, Port Botany and Port Kembla Lessor Companies (Pty Ltd)
- Restart NSW Fund
- Social and Affordable Housing NSW Fund
- Electricity Retained Interest Corporation – Ausgrid
- Electricity Retained Interest Corporation – Endeavour Energy
- NSW Generations (Debt Retirement) Fund
- NSW Generations (Community Services & Facilities) Fund
- Roads Retained Interest Pty Ltd