Annual reporting information requirements
The Government Sector Finance Act 2018 (GSF Act) annual reporting provisions under Division 7.3 provides for the preparation of annual reporting information and its application to reporting GSF agencies.
Annual reporting information for a reporting GSF agency includes:
- information about the agency’s activities and performance during an annual reporting period for the agency
- the annual financial statements
- audit report concerning the annual financial statements.
Previously, reporting GSF agencies required to prepare annual reporting information was defined by a list of departments, agencies and statutory bodies as prescribed in Schedule 3 to the GSF Regulation 2024.
From 1 July 2025, please refer to the new framework for financial and annual reporting below, which applies for the 2024-25 financial reporting period (or 2025 calendar reporting period) onwards. It outlines the new grouping requirements for who prepares annual reporting information. The framework includes transitional arrangements for annual reporting information for the 2024-25 financial year.
The annual reporting information must be presented under the following mandatory headings:
- Overview
- Strategy
- Operations and performance
- Management and accountability
- Sustainability
- Financial performance.
Annual reporting requirements are specified in the Framework for Financial and Annual Reporting, which categorises agencies into three distinct groups, each with specific, proportionate reporting obligations.
All reporting GSF agencies must:
- prepare their annual reporting information within four months after the end of the annual reporting period
- provide this to the responsible Minister to enable it to be tabled in Parliament as soon as practicable but no later than five months after the end of the annual reporting period.
For more detailed information please refer to TPG25-10 Framework for Financial and Annual Reporting.
Climate-related financial disclosures
Treasury is implementing mandatory climate-related financial disclosures for certain annual reporting entities.
New framework for financial and annual reporting
A new framework for financial and annual reporting applies for the 2024-25 annual reporting period.
The framework TPGs present a comprehensive framework to support legislative requirements for financial and annual information reporting. The framework outlines criteria designed to determine which GSF agencies are required to prepare financial and annual reporting information, as well as set out the appropriate format and content for each. The differential reporting framework categorises agencies into three distinct groups, each with specific, proportionate reporting obligations.
Framework TPGs:
Resources
The Summary of Changes (PDF 202.21KB) provides a detailed comparison between the previous and updated reporting frameworks. It highlights the key differences, ensuring awareness of the significant changes and how they may impact reporting processes.
The FAQs (PDF 121.84KB) address common questions related to the new framework requirements. It serves as a valuable reference, offering clear explanations and insights into the key changes and expectations. This document is designed to help navigate the new requirements.
Annual reporting contacts
Treasury’s Financial Management Legislation team administers the financial reporting and annual reporting information legislation applicable to GSF agencies. For information on annual reporting requirements contact legislation@treasury.nsw.gov.au.
For information on financial statement accounting matters, please go to the Treasury's Accounting Policy webpage or contact accpol@treasury.nsw.gov.au.
Contact NSW Treasury
For general or media enquiries, complete our online form or visit our Contact us page.
- Address: 52 Martin Place, Sydney, NSW 2000 (Enter via 127 Phillip Street)
- Post: GPO Box 5469, Sydney, NSW 2001