(1) After the end of each annual reporting period for the NSW Government, the
Treasurer is to prepare both of the following (the
"Consolidated State Financial Statements" )--
(a) consolidated Total State
Sector financial statements for the State as at 30 June in that annual
reporting period,
(b) consolidated financial statements for the General
Government Sector as at 30 June in that annual reporting period.
(2) The
Consolidated State Financial Statements are to be prepared and given to the
Auditor-General by the date or dates agreed by the Treasurer and the
Auditor-General to enable the Auditor-General to audit the statements.
(a) be prepared
in accordance with the Australian Accounting Standards, and
(b) present
fairly the financial position, financial performance and cash flows for the
Total State Sector or General Government Sector (as the case requires).
(4A) The
statement must be given to the Auditor-General before the Auditor-General
prepares the audit report for the Consolidated State Financial Statements.
(b) a report on the
Government's financial performance against the object, targets and principles
provided by the Fiscal Responsibility Act 2012 .
(7) The Treasurer may
include in or with any of the Consolidated State Financial Statements any
reports or other information that the Treasurer may determine.