The Treasury (New South Wales)

Updated on Jan 20, 2024

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Formed April 1824 Founded April 1824		Jurisdiction New South Wales

Headquarters Level 27 Governor Macquarie Tower, 1 Farrer Place, Sydney Minister responsible Hon. Dominic Perrottet MP, Treasurer of New South Wales and Minister for Industrial Relations Department executive Rob Whitfield, Secretary Child agencies Office of Financial Management Office of State Revenue NSW Treasury Corporation Electricity Tariff Equalisation Ministerial Corporation FSS Trustee Corporation Hardship Board of Review Internal Audit Bureau of NSW Liability Management Ministerial Corporation NSW Self Insurance Corporation SAS Trustee Corporation

The Treasury of New South Wales or New South Wales Treasury, a department of the New South Wales Government, is responsible for state financial management policy and reporting, and providing advice to the government on economic conditions and issues in New South Wales, Australia. NSW Treasury was established in April 1824 and is the oldest continuing government agency in Australia.

The Treasury is led by its Secretary, Rob Whitfield. The Treasury is responsible to the Treasurer of New South Wales and Minister for Industrial Relations, presently the Honourable Dominic Perrottet MP. Ultimately, the Treasurer and Minister is responsible to the Parliament of New South Wales.

Organisational structure

The Treasury is divided into five service groups that perform various functions on behalf of the department:

Fiscal and Economic Group – macroeconomic advice and forecasting, microeconomic reform, self-insurance, superannuation, credit rating issues, taxation, intergovernmental financial relations;

Agency Budget and Policy – the key interface between Treasury and public sector agencies on financial and policy matters, and it oversees the recurrent and capital expenditure of the general government sector;

Commercial Group – commercial policy advice, oversights the performance of the commercial sector of Government, manages major Government transaction and structures arrangements for the private financing of public infrastructure;

Industrial Relations, also called NSW Industrial Relations or NSW IR – works to ensure NSW private sector businesses comply with their responsibilities under NSW industrial relations laws, including laws regulating long service leave, the entertainment industry, transport and taxi industry contract determinations, shop trading hours and public holidays; and ensures compliance with the NSW Guidelines for construction procurement;

Corporate Group – delivers services to Treasury across a range of corporate areas including finance and administration, human resources, information management and technology, executive and ministerial services, communications, project management, corporate planning and risk management.

References

The Treasury (New South Wales) Wikipedia

(Text) CC BY-SA