“Incredibly interesting and very valuable session. This should be mandatory training for all public servants.”
– Attendee
On Tuesday, 11 February, the Institute and NSW Treasury co-hosted the Policy Futures’ Masterclass on the NSW State Budget, with over 1000 attendees from across the Institute’s government and partner universities.
Executive Director Jane Reynaud led a panel featuring three policy, budget and financial experts from NSW Treasury:
- Rhett Gibson, Director, Communities and Homes NSW
- James Atkinson, Director, Fiscal Strategy
- Sam Horin, Director, Budget Planning and Analysis
The Masterclass provided an important introduction to government budgeting, how to read the budget papers and understand key financial metrics, and what NSW Treasury considers when evaluating new policy options. The webinar provided up-to-date information on the NSW budget cycle and the state’s latest fiscal outlook.
Key learnings highlighted NSW Treasury’s best practice approach. The Government Sector Finance Act 2018 sets out the requirements for sound financial management, budgeting, performance, financial risk management, and accountability. Robust investment decision processes, supported by the work of the Expenditure Review Committee, tie into efforts to increase transparency regarding the state’s expenditure and investment decisions.
Policy Futures was established to promote capability-building at the intersection of policy and practice, and this Masterclass is a prime example of that. Undertaking the nuances of the NSW Budget is critical for all public servants, as well as those in other public institutions, so I’m particularly grateful to our colleagues in Treasury for co-hosting this session. We look to take this forward in years to come with specific ‘deep dives’ into specific budget areas.
Jane Reynaud, Executive Director
Most of us join the public service to try and make a positive difference. Today, that involved raising awareness around the budget cycle, why everyone should care about it and how the different pieces all fit together. We also shed light on all the interesting things we get to look at in a Treasury (it’s not just numbers!) and perhaps we inspired a few people to think about a future career here.
Rhett Gibson, Director, Communities and Homes NSW
This Masterclass forms part of the Policy Futures’ Practitioner Knowledge Accelerator Series that equips public servants and researchers with the skills and capabilities needed in the modern era. In addition to the work of Policy Futures, the Institute supports public servants and university researchers through Policy Fellowships, participation in Government Project teams, Policy Challenge Grants, and network-building.
