Annual reporting information requirements
The Government Sector Finance Act 2018 (GSF Act) annual reporting provisions under Division 7.3 provide for the preparation of annual reporting information by 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 are required to prepare annual reporting information as outlined in TPG25-10 Framework for financial and annual reporting. The framework establishes criteria to determine which GSF agencies are required to prepare financial and annual reporting information.
- All GSF agencies are reporting GSF agencies, except for the GSF agencies that are covered by one of the specific exclusions in Division 2 of the Government Sector Finance Regulation 2024. TPG25-10 refers to these excluded agencies as ‘group 3’ agencies.
- Group 1 and group 2 agencies must prepare annual reporting information, including audited financial statements.
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 for group 1 and group 2 agencies are specified in TPG25-10a (PDF 839.51KB) and TPG25-10b (PDF 669.84KB) respectively.
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 has introduced mandatory climate-related financial disclosures for certain annual reporting entities.
Framework for financial and annual reporting
The framework for financial and annual reporting applied from the 2024-25 annual reporting period.
The framework TPGs present a comprehensive framework to support legislative requirements for financial and annual information reporting. The differential reporting framework categorises agencies into three distinct groups, each with specific, proportionate reporting obligations.
All group 1 and group 2 agencies are required to prepare annual reporting information and provide that information to their responsible Minister for tabling in Parliament.
Framework TPGs:
End of transition arrangements
Chapter 8 of TPG25-10 provided transition arrangements for newly reporting GSF agencies and combined and consolidated reporting for financial year 2024-25 (or calendar year 2025).
These transition arrangements do not apply for financial year 2025-26 (or calendar year 2026) or future years. All group 1 and group 2 agencies are required to prepare annual reporting information for financial year 2025-26. Similarly, all combined and consolidated reporting must be prepared in accordance with the requirements of the framework TPGs.
Resources
The Summary of Changes (PDF 142.04KB) provides a detailed comparison between the previous and updated reporting frameworks for financial year 2024-2025.
The FAQs (PDF 350.57KB) address common questions related to the framework 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