Fiscal and Economic Group
The Fiscal and Economic Group (FEG) provides advice on the NSW economic and fiscal outlook, including budget performance, revenue, tax and productivity measures, intergovernmental relations, competition policy and regulatory reform. FEG is responsible for the preparation of the State Budget, Half-Yearly Review and annual Total State Sector Accounts.
- economic forecasting, modelling and microeconomic reform
- fiscal policy and credit rating advice
- revenue and expenditure strategy, analysis and advice
- intergovernmental financial relations
- public sector financial framework reforms and accounting policy
Agency Budget and Policy Group
The Agency Budget and Policy (ABP) Group is the primary agency relationship manager at Treasury. ABP partners with agencies and other non-government delivery partners to create a strong and sustainable NSW economy. The role of ABP is to work collaboratively with government agencies to provide high quality advice on financial management, policy reform and resource allocation. The goal is to improve services to the community and increase living standards both now and into the future. ABP plays a key role in preparing the State Budget and monitoring agency financial and policy performance.
- coordination of agency content for core Treasury publications, including Budget Papers, Total State Sector Accounts, Half-Yearly Review
- economic and financial advice on resource allocation, service delivery, policy and funding reforms
- robust financial monitoring through accurate and quality data analysis
- advising on how to use balance sheets more effectively to improve services and economic outcomes
- advising on agency business cases, asset plans and budget proposals
- monitoring agency asset management and delivery
Financial Risk Management and Transformation
The Financial Risk Management and Transformation (FRMT) Group was established in June 2016 and tasked with delivering the Financial Management Transformation program. The Group will also establish a new financial risk management capability in Treasury. The vision of the Financial Management Transformation program is to create a world class financial management framework for NSW that will support high quality performance and resource management.
The program has three pillars:
1. New legislation which will establish a single framework for public sector financial management and replace numerous outdated legislative requirements.
2. New policies that support program based budgeting and reporting. These policies represent a significant shift in how Treasury manages the Budget process and they will ensure greater alignment to the Government’s policy objectives for the State.
3. A new financial management system called Prime. This will replace five older, manual and inefficient financial management systems. Together, the financial management transformation and new public sector financial risk framework will move the focus from incremental, year-to-year management of finances, to risk, investment and performance-informed allocation of resources, driving multi-year strategic outcomes. This will allow for greater transparency and accountability across the sector.
The Commercial Group is responsible for commercial policy development, infrastructure and structured finance. It manages the State’s shareholding in its commercial businesses and the delivery of major asset transactions. The Group also includes a new Commissioning and Contestability Unit.
- specialist commercial and financial advice to Government to facilitate private sector involvement in major capital projects and related services
- managing the Government’s shareholding in State owned corporations which includes assessing and monitoring their commercial strategies
- partnering with NSW Government agencies to improve the quality of government services
- major asset transactions and their relationship with public policy and regulation
NSW Industrial Relations’ (NSW IR) primary responsibilities are to monitor wages, employment rights, obligations and employment conditions in NSW.
Workplace advisors at NSW IR engage directly with employers, employees and vulnerable workers through a comprehensive education program which includes face-to-face workshops and online webinars.
- strategic public and private sector policy advice to the NSW Government
- specialist support to public sector agencies regarding the application of the Government’s Wages Policy and implementation of Government reforms
- participating as a partner in the Commonwealth’s national workplace relations framework
- monitoring and enforcing compliance for the construction, entertainment and the taxi industries.
The Long Service Corporation (LSC) administers long service leave schemes for NSW workers in the building and construction and contract cleaning industries.
The Corporate Group provides a diverse range of business enabling services and critical support for Treasury. The Group is focused on strengthening the monitoring and reporting of business performance, driving continuous improvement across the organisation as well as providing proactive advice on all aspects of the business.
- executive and ministerial services
- finance and business performance management
- facilities management
- information management systems
- project management
The role of Treasury’s Human Resources (HR) team is to maximise the potential of our greatest asset — our people — to ensure that Treasury can deliver on its strategy. The priority of the HR team is to build on the skills and innovation of our people to create a high performing results-driven workforce.
- implementing best practice policies, programs and solutions across recruitment, development, reward and engagement
- developing leadership capability and shaping a culture of collaboration and accountability
- driving efficiency and productivity through the careful design of work, the operating model and the organisation
- improving the quality of work life balance for all our people
Office of the Secretary
The Office of the Secretary coordinates direct support services to the Secretary of Treasury and is the primary point of contact managing the flow of information to the Secretary.