With around 800 employees boasting a diverse range of skills, perspectives, and backgrounds, Treasury supports the Government to deliver on its commitment to the people of New South Wales – to make the state a great place to live and work.

Treasury is led by an Executive Board made up of the Secretary, four Deputy Secretaries and two rotating Senior Executives. Each Deputy Secretary heads up a group and together are responsible for delivering Treasury’s strategy and goals:

Policy and Budget

The Policy and Budget (P&B) Group is the primary agency relationship manager at Treasury. We work collaboratively with NSW Government agencies to provide high quality advice to the Treasurer and Cabinet Committees on financial management, policy reform and resource allocation that contributes to a strong and sustainable New South Wales economy.

We also oversee fiscal risks, and develop a fiscal strategy and enabling policies for the State. The strategy and policy supports the preparation and delivery of the annual State Budget and Half-Yearly Review.


We partner with the whole of Treasury to provide advice on whole-of-state fiscal policy and budget strategy. Our objective is to help the NSW Government deliver sustainable, high quality and resilient public services to the community. We coordinate and deliver the annual New South Wales Budget and Half-Yearly Review. We also provide an advisory function to Ministers and the public service, including direct support to the Expenditure Review Committee of Cabinet.

Strategy, Delivery and Reviews

We lead programs of work that enhance economic growth, improve budget sustainability and boost productivity and participation across the sector. Our major projects include coordination and implementation of the Women’s Economic Opportunities programs, targeted reviews and reforms of public sector expenditure programs as well as developing and evaluating COVID-19, cost of living and other economic stimulus programs. We also lead the development and implementation of Treasury’s Reconciliation Action Plan to advance equality for First Nations people.

Health and Stronger Communities

We are the primary manager of Treasury’s relationship with the Health and Stronger Communities clusters to support improved and sustainable services to the community. Working with stakeholders across these clusters, we provide strategic advice and support on their financial management, resource allocation, and policy and reform priorities.

Premier, Education and Customer Service

We are responsible for managing Treasury’s engagement with all agencies in the Education and Customer Service clusters, and leading strategic policy and budget expenditure analysis regarding First Nations Outcomes and energy, water and environment policy areas. Working across these clusters and agencies, we provide strategic advice and support across a broad range of social policy areas. We support early childhood education reform, vocational education training and skills development and digital investment strategy.

Transport, Infrastructure and Investment

We lead Treasury’s relationship with the Transport, Infrastructure, Investment and Planning clusters. We support our partners to plan and deliver improved public services and major capital projects. Our focus is on driving outcomes budgeting to deliver effective and impactful public spending.


Economic Strategy and Productivity

The Economic Strategy and Productivity (ESP) Group helps shape New South Wales economic strategy and inform the future direction of tax policy, economic policy and reform, productivity policy, microeconomic policy and federal financial relations.


We lead the analysis, modelling and advice on conditions and structure of the NSW macroeconomy – and implications for the State’s citizens and businesses – to inform strategic fiscal, economic, social and environmental policy decisions.


We lead the development of revenue forecasts and analysis, provide policy advice to Government, implement decisions, and influence the direction of federal financial relations.

Centre for Economic Evidence

We lead the development and application of economic frameworks to improve the wellbeing of the NSW community and to support strong, evidence-based decisionmaking. The Division promotes and advises on the practice of public economics to advance the effectiveness, efficiency, and equity of government initiatives. It also has responsibility for Treasury’s economic stewardship and investment frameworks, as well as outcomes budgeting and First Nations economic wellbeing.

Markets and Regulation

We lead the development of competition, microeconomic and regulatory reforms which boost productivity, enhance market sustainability and community well-bring, provide policy advice to Government, implement decisions, inform the public policy conversation and provide support across the broader ESP Group.

Productivity Commission

We drive economic reform to support higher living standards for the people of New South Wales. We contribute to a process to drive productivity improvements, including driving microeconomic and regulatory reform. This work led to the Productivity Commission White Paper 2021—Rebooting the economy.



The Commercial Group is responsible for commercial policy development, infrastructure and structured finance. We manage the State’s shareholding in its commercial business, major asset transaction, analysis and review of the State’s commercial assets, liabilities and activities. We also look after all-of-government procurement.

We play an important role in supporting agencies with consultancy and advisory services as well as providing access to procurement enabling technologies to help these agencies meet their business outcomes.

Banking and Financial Services

NSW Government facilitates payments to and from millions of citizens and businesses every day. We are responsible for optimising the State’s cash position and modernising its payment capabilities. We seek to provide consistent, accessible, secure, fast and easy to use digital payment experiences across all NSW Government services, and to help our customers and suppliers get paid faster. Additionally, we aim to drive efficient and effective use of Government resources and significantly improve productivity. NSW Government is also an active participant in the payments and FinTech marketplace, helping to foster competition, innovation and better policy outcomes for all users.

Commercial Assets

We manage the government’s shareholding in State Owned Corporations and other commercial government businesses, assessing and monitoring their strategies and performance. We manage appointments to the Boards and are responsible for the development of the government’s Commercial Policy Framework. We also continue to be responsible for the management of assets and exposures that remain with the Government following a major transaction.

Infrastructure and Structured Finance Unit

We work with agencies to facilitate private sector investment on high-profile, high-risk infrastructure projects of more than $200 million, in particular Public Private Partnerships (PPPs). We provide specialist commercial and financial to agencies on major projects being procured by NSW Government. We work closely with agencies to consider their project delivery options, consider their procurement options, evaluate tenders received from private sector parties, participate contractual negotiations and financial close.

Recent projects that ISFU has worked on include the Western Sydney Airport Metro PPP project, the Western Habour Tunnel and Sydney Metro West.

NSW Procurement

We implement innovative, outcomes driven approaches to maximise value for money and make it easier to do business with government. We specialise in providing agencies with consultancy and advisory services, analytics, category management, procurement policy and access to procurement enabling technologies.

We are responsible for all-of-government electricity, fleet and travel-related contracts. We establish and review procurement policies, all-of-government prequalification schemes.

Financial Management and Services

Financial Management and Services (FMS) brings together the preparation and coordination of the Total State Sector Accounts, financial reporting and financial management policies with the management of the State's financial assets, liabilities and risks.

It includes the specialist advisory and support services that are provided across Treasury, including accounting, financial, ministerial, human resources, communications, information and digital technologies and facilities management.

Climate Change and Balance Sheet

We ensure the long term financial, environmental and social sustainability of New South Wales through the management of financial assets, liabilities and risks. We oversee the management of strategic investment funds including the New South Wales Generations Fund and Social and Affordable Housing Fund. We also give guidance on funding solutions and debt management, and support an ambitious agenda in the areas of Sustainable Finance and Social Impact Investment.

Financial Stewardship & Public Reporting

The Financial Stewardship & Public Reporting (FSPR) Division is responsible for financial reporting for the sector including the Total State Sector Accounts (TSSA) and the aggregate financial data in the annual Budget. We provide leadership, develop policies and deliver advice for the sector on financial management, accounting policy and climate disclosures. We have four teams: 

The Total State Financial Reporting team is responsible for all-of-government reporting and preparation of consolidated financial reports including the TSSA, monthly reports and aggregate financial projections in the Budget and Half-Yearly Review. 

The Accounting Policy and Advisory team develops whole-of-state accounting policies and provides advice on complex accounting and reporting matters across the sector. Jointly with Strategic Balance Sheet Management Division, the team is leading the implementation of climate disclosures across the government sector. 

The Financial Management Legislation Policy and Assurance team are custodians of the State’s financial management legislation, and lead policy development and advice on financial management, annual reporting and stewardship matters. The team also prepares the annual Appropriation Bills and manages the Recurrent Investor Assurance Framework.  

The Finance Projects and Engagement team provides expert resources to tackle priority projects across the work of FSPR, with a focus on resolving key risks to the TSSA. The team also coordinates key elements of our engagement with the sector and with the Audit Office.

Treasury Finance and Services

We provide broad essential support services around Treasury's workforce, reputation management and proper transparency with the people of New South Wales.  

The People and Talent team leads human resources and employee relations, delivering talent solutions, learning and organisation development outcomes and the implementation of robust workforce management strategies. We partner to maximise the success and potential of our teams of highly capable, engaged and diverse people, sought after for the quality of their advice. 

The Communications team is responsible for driving awareness of Treasury, and its projects and programs that support the people of New South Wales. Our work covers internal and external channels including employee engagement, traditional media, social media, events, advertising, sponsorship, digital and websites. We provide change communications and issues management advice to the Secretary, Deputy Secretaries, branches and divisions, assist our reporting Ministers and their offices, and provide strategic advice and leadership in all-of-government forums. We deliver strategic communications campaigns and manage Treasury’s brand to maintain and enhance its integrity in the community. 

Treasury’s Strategic Coordination team facilitates the planning and delivery of organisational strategy, and the full life-cycle of Treasury’s corporate planning, resource prioritisation, implementation and reporting. The team coordinates the monitoring of and reporting on the government's election commitments relevant to Treasury and represents the department in sector-wide fora focused on ensuring the successful delivery of key strategic sector-wide priorities, including election commitments and the NSW Performance and Wellbeing Framework. In conjunction with the Organisational Development and Communications teams, the Strategic Coordination team contributes to the ongoing capability development of Treasury’s senior leadership team. 

The Treasury Finance team leads corporate finance and business performance management for Treasury and Treasury-administered functions on behalf of the State of New South Wales including residual interests and accounts management. Key activities include the preparation of 24 sets of financial statements, annual budget setting for Treasury and administered entities, financial control, and audit support for all entities. Key external stakeholders include the Audit Office, Audit and Risk Committee and external boards for several residual entities.  

Information Technology

We are responsible for maintaining IT infrastructure to ensure it adapts to the evolving needs of Treasury. We lead Treasury’s digital workplace management and provide support on applications, records technology, Budget systems optimisation, cyber security, data analytics and reporting. We also ensure the proper delivery, availability and maintenance of Treasury’s physical and digital facilities.

Office of General Counsel

The Office of General Counsel (OGC) is responsible for providing independent legal advice to Treasury, including providing a legal lens to Treasury and all-of-government policy initiatives. The OGC also provides information access, governance, ethics and integrity advice.

We engage with other New South Wales legal functions, including the Crown Solicitor’s Office and Parliamentary Counsel’s Office, and support Treasury compliance activities from a legal perspective. We also provide general support on major commercial transactions and strategic projects, contract reviews and negotiations.

Office of the Secretary and Ministerial Services

The Office of the Secretary and Ministerial Services(the Office) provides strategic and professional advice and support to the Secretary and Treasury Executive Board in leading NSW Treasury to the highest level of performance in delivering the Government’s agenda. The Office plays the primary role in advising, supporting and managing relationships with Ministerial Offices in the Treasury portfolio, and providing direction to the Department and other entities within the Portfolio, to ensure delivery of Treasurer, Ministerial and Secretary priorities.

As part of this, the Office is responsible for Treasury’s ministerial and executive services including those relating to Cabinet, Parliament, briefings and correspondence and the provision of Departmental Liaison Officers and other resourcing support to Ministerial Offices.

Last updated: 07/05/2024