With more than 1,000 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, five 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
- Economic Strategy and Productivity
- Office of Energy and Climate Change
- Financial Management and Services
- Office of General Counsel
- Office of Secretary
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.
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 whole-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.
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.
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 whole-of-government electricity, fleet and travel-related contracts. We establish and review procurement policies, whole-of-government prequalification schemes.
Office of Energy and Climate Change
The Office of Energy and Climate Change (OECC) was established in the Treasury Cluster in April 2022.
We focus on delivering government reforms, economic development and critical services around energy reliability, climate change and emissions reduction. Our key strategies and programs are integral to New South Wales economic policy that will bring enduring benefits to our economy, the environment and the people of New South Wales. Our mission is to accelerate New South Wales’ transformation to a sustainable future.
Energy, Climate Change and Sustainability (ECCS)
We are responsible for our state-wide sustainability strategy, policy and programs across a range of areas. Our three divisions are climate change and sustainability, energy and strategy and implementation.
Climate Change and Sustainability Division
We lead policies and programs to achieve net zero emissions by 2050 and build resilience to climate change, including clean energy and hydrogen while creating new jobs, cutting household costs and attracting investment.
We drive policies, programs, regulations and legislation focused on providing reliable, affordable, safe, and secure energy to households and businesses of New South Wales. Our diverse portfolio spans program delivery, consumer and competition policy, regulation, energy operations and energy security safeguards, building sustainability through NABERS and energy social programs. We also play a critical role in increasing the uptake of electric vehicles in NSW.
Strategy and Implementation Division
We coordinate the delivery of key energy and climate strategic initiatives including development of the New South Wales Electricity Infrastructure Roadmap, supporting the Renewable Energy Sector Board, the independent Electricity Infrastructure Jobs Advocate which will accelerate New South Wales’ transformation to a sustainable future. We also play a critical role in engaging with the Commonwealth Government on a range of issues, including the Memorandum of Understanding on energy and emissions reduction, delivery of a Capacity Mechanism, Regulated Exit Contract, the National Energy Transformation Partnership and national transmission reforms as well as in the coordination and support for the Minister for Energy’s participation in Energy Ministers Meetings.
Energy Corporation of New South Wales (EnergyCo)
Driven by the Electricity Infrastructure Roadmap, EnergyCo is responsible for coordinating the development of the first five Renewable Energy Zones (REZs) and critical infrastructure across New South Wales. As the Infrastructure Planner for these REZs, we work closely with communities, investors and industry to ensure the REZs are in the long-term interest of energy consumers, local communities and industry in New South Wales.
Business Strategy and Program Division
We drive the overall business and corporate strategy, including providing stakeholder and corporate relations support and communication services.
We are responsible for commercial management and governance frameworks for Renewable Energy Zone programs.
Planning and Communities Division
We are responsible for the whole-of-REZ planning framework, supporting community, client and stakeholder engagement. We also integrate REZ infrastructure with local and State government planning processes.
Technical Advisory Services Division
We provide expert technical advice to optimise integration of REZ infrastructure and deliver secure, reliable energy supply to New South Wales electricity customers.
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.
Strategic Balance Sheet Management
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.
Finance and Operations
We are responsible for financial reporting for the sector including monthly state reporting and the aggregate financial information in the annual Budget. We provide leadership and advice for the sector on financial management and accounting policy, including capability support and compliance/performance management. We provide a range of services to Treasury including finance and business performance management, reporting and analysis, risk assurance, internal auditing and compliance, technical accounting advice, and corporate finance and facilities management functions. We also provide ministerial and cabinet support.
We lead 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.
We are responsible for driving awareness of Treasury, and its projects and programs that support the people of NSW. Our work covers internal and external channels including employee engagement, traditional media, social media, events, 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 whole-of-Government forums. We deliver strategic communications campaigns and manage Treasury’s brand to maintain and enhance its integrity in the community.
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.
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 whole-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
The Office of the Secretary is responsible for providing internal support and advice, central agency leadership and engagement, and coordinating engagement and support for the Treasurer’s Office.
Last updated: 06/04/2023