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.
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.
This list will be repealed on 1 July 2025. Please refer to the proposed new framework for financial and annual reporting 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 proposed framework includes transitional arrangements.
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:
TD23-11 Annual Reporting Requirements (PDF 403.08KB) – includes principles for preparing and publishing the agency’s annual reporting information and when exemptions, extensions and variations can be requested.
TPG23-10 Annual Reporting Requirements (PDF 859.35KB) – specifies certain annual reporting information as mandatory requirements to report and outlines the annual reporting requirements from the GSF Act, the GSF Regulation 2024, TD23-11 and other NSW Government legislation and policies.
An agency 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.
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 will apply from 1 July 2025. Treasury released draft policies regarding the framework for financial and annual reporting in December 2024.
The policy papers present a comprehensive framework to support legislative requirements for financial and annual information reporting. The papers outline 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 proposed differential reporting framework categorises agencies into three distinct groups, each with specific, proportionate reporting obligations.
Treasury is reviewing agency feedback and making minor updates to the draft policies to reflect this feedback. TD23-11 and TPG 23-10 will be replaced by a new TD and TPGs (drafts below) when the framework comes into effect on 1 July 2025.
Draft policy papers:
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