The Treasury cluster leads the economic, jobs and investment conversation across the state. From its position at the centre of government, NSW Treasury drives the economic development strategy to guide NSW’s growth for the next 10 to 20 years. Treasury’s leadership team is the strategic decision-making body for Treasury. The team has a clear focus and accountability for strategic leadership, high-order resource
allocation and risk management across the organisation.
Comprising of the Secretary, four Deputy Secretaries, a General Counsel, a Chief People Officer, a Chief Financial Officer, a Chief Information Officer and a Chief of Staff, Treasury’s structure consists of the following groups that are responsible for delivering Treasury’s strategy and goals:
- Commercial and Procurement
- Economic Strategy and Productivity
- Policy and Budget
- Corporate Services
Commercial and Procurement
The Commercial and Procurement Group (C&P) is responsible for commercial policy development; infrastructure and structured finance; managing the State’s shareholding in its commercial businesses; managing major asset transactions; analysis of and advice on the State’s assets; liabilities and activities; and looking after a range of whole-of-government procurement.
The group also includes the NSW Office of Social Impact Investment.
Core responsibilities include:
- assessing and monitoring commercial government business strategies and performance,
- facilitating private sector involvement in major capital projects and related services by providing specialist commercial and financial advice,
- implementing innovative, outcome-driven approaches to NSW Government procurement to maximise value for money,
- making it easier to do business with government,
- establishing and reviewing procurement policies, including government prequalification schemes,
- strategic balance sheet management
- sustainable finance and social impact investment,
- providing agencies with consultancy and advisory services, and access to procurement enabling technologies to help them meet their business outcomes; and
- managing major asset transactions and their relationship with public policy and regulation, through the Transactions Unit.
Part of the C&P Group, NSW Procurement is responsible for whole-of-government electricity, fleet and travel-related contracts, NSW Government tendering and parts of the buy.nsw website.
The Infrastructure and Structured Finance Unit (ISFU) specialises in providing commercial and financial advice on procuring service enabling infrastructure with a capital cost over $100 million across all sectors and agencies.
Economic Strategy and Productivity
The Economic Strategy and Productivity (ES&P) Group shapes the NSW economic strategy and influences the future direction of tax policy, economic policy and reform, productivity policy, small business policy and federal financial relations.
Core responsibilities include:
- advising and promoting sound economic policy within NSW,
- bolstering the capacity of NSW Treasury to lead economic reform and debate by advising on state, national and global economic issues, analysis and trends,
- monitoring and forecasting the NSW economy and revenues, and providing policy advice on the State’s revenue measures and federal financial relations,
- driving productivity improvements, including driving microeconomic and regulatory reform
- driving the conversation around tax reform,
- economic modelling to provide data and drive outcomes; and
- Aboriginal economic wellbeing.
The NSW Small Business Commission, which sits within ES&P, supports the sustainability of small businesses in NSW by providing advocacy, strategic and procedural advice, confidential mediation and dispute resolution services. They also oversee NSW Small Business Month — the only dedicated festival for small businesses in NSW.
Policy and Budget
The Policy and Budget (P&B) Group is the primary agency relationship manager at NSW Treasury. The role of P&B is to work collaboratively with NSW government agencies to provide high quality advice on financial management, policy reform and resource allocation.
The goal is to improve service delivery to the community and increase living standards both now and into the future. The Group plays an integral role in monitoring agency financial and policy performance and preparing the State Budget. The Group is also responsible for developing a fiscal strategy for the State, as well as coordinating fiscal policy, which feeds into the delivery of the State Budget.
Core responsibilities include:
- coordination of agency content for core Treasury publications, including Budget Papers, Half-Yearly Review and the Pre-Election Budget Update (PEBU),
- providing economic and financial advice on resource allocation, service delivery, policy and funding reforms,
- undertaking robust financial monitoring through accurate and quality data analysis,
- advising on how to use the State balance sheet more effectively to improve services and economic outcomes,
- advising on agency business cases, asset plans and budget proposals,
- monitoring agency asset management and delivery,
- reviewing outcomes across policies and initiatives; and
- achieving fiscal repair to support the NSW Treasurer’s priorities of a return to surplus by 2024-25.
As the primary manager of Treasury’s relationships with general government agencies, P&B works collaboratively with agencies, providing high quality advice on resource allocation, policy reform and financial management.
To drive the NSW Government’s commitment to Outcome Budgeting, a new Outcome Reviews team will be established, and a new Insights team will focus on reporting, research and analysis.
The Corporate Services Group brings together Corporate Treasury functions with a goal to keep the ‘house of Treasury’ in order. The Group streamlines processes, drives staff engagement, embraces flexibility, enables collaboration and strengthens the foundations of OneTreasury.
This Group brings together the Office of the General Counsel, Information Technology, Finance and Operations, Communications, and Banking and Financial Services, under the Chief Operating Officer.
It is the Chief Operating Officer’s role to ensure NSW Treasury remains a world-class public service with a focus on continuing to work hard to drive improved outcomes for the people of NSW.