Government Sector Finance Act 2018 (NSW)
University-wide concern. Impacts on reputation and funding.
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GPO Box 5469
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VC Compliance Delegate
Meg McKechnie, Chief Financial Officer
Ilias Dimopoulos, Head of Finance
Business Units Impacted
The objects of this Act are as followsâ€"
(a) to promote and support sound financial management, budgeting, performance, financial risk management, transparency and accountability in the government sector and by GSF agencies and government officers,
(b) to facilitate the effective devolution of roles and responsibilities in connection with financial management to support efficient and effective government,
(c) to require the efficient, effective and economical use and management of government resources and related money in accordance with the principles of sound financial management,
(d) to promote appropriate stewardship of government resources and related money,
(e) to facilitate cooperation and collaboration within and between GSF agencies for the purpose of achieving common objectives and whole of Government objectives,
(f) to facilitate the keeping and sharing of performance information in the government sector for the purposes of decisions about resource allocation.
NOTE: The Treasurerâ€™s directions do not apply to a university or its controlled entities, except for the purposes of provisions of Divisions 7.2 and 7.3 of the Act that are applicable to universities and their controlled entities.