The annual report is the key medium by which NSW Public Sector agencies discharge their accountability to the Parliament, the Government and the public. It provides an overview of an agency’s activities and financial position relating to the preceding year.
NSW Treasury's Accounting Policy team administers the financial reporting and annual reporting legislation applicable to many NSW Public Sector agencies. The information in this section has been developed to provide an Annual Reporting quick reference guide for those agencies and includes links to specific information and legislation.
Annual reporting under the Government Sector Finance Act 2018
On 1 July 2023, annual reporting provisions (Division 7.3) in the Government Sector Finance Act 2018 (GSF Act) commenced.
Accordingly, reporting GSF agencies (including universities) must prepare their annual reports under the GSF Act, starting from annual reports for the FY 2022-23 (or calendar year 2023 where applicable, e.g. for universities).
Please refer to TPG23-10 Annual Reporting Requirements Treasury Policy and Guidelines paper which outlines the annual reporting requirements from the GSF Act, its associated regulations, Treasurer’s Directions, other legislation, and policies.
Please refer to this fact sheet for more details here.
Climate-related disclosures
Mandatory requirements for Taskforce for Climate-related Financial Disclosures (TCFD)-informed disclosures will be deferred from FY 2023-24 to FY 2024-25.
Agencies are to defer climate-related disclosures in Annual Reports, unless required by specific legislative provisions, or until such time as Treasury issues sector-wide guidance.
For those agencies who do choose to voluntarily deliver disclosures for FY 2022-23, these should be issued alongside a disclaimer that recognises that this disclosure is an early adoption based on best endeavours, delivered ahead of sector-wide guidance being available, and therefore there may be limitations to the robustness and consistency of reporting. A form of words for this disclosure is provided in the forthcoming “Annual Reporting Requirements” Treasury Policy and Guidelines (TPG23-10).
Annual reporting contacts
For information on Annual Reporting legislation contact Treasury’s Accounting Policy Branch: [email protected]
For Accounting Policy information, please go to the Treasury's Accounting Policy webpage.
