Annual Report 2024-25: Treasury WA

The WA Treasury Annual Report 2024-25 outlines achievements, performance information, financial statements and other legislated disclosures for the financial year 2024-25.

Key highlights include:

• Treasury supported the WA Government to secure a seventh consecutive operating surplus, deliver record infrastructure investment, maintain affordable net debt, and retain the State’s triple-A credit rating from Moody’s and S&P Global.
• Launched the rebalanced Financial Management Framework, reducing Treasurer’s Instructions from 63 to 10.
• Supported the establishment of the Strategic Industries Fund to promote economic diversification and industrial development.
• Signed National Competition Policy agreements, initiating WA’s first Jurisdiction Specific Reform Plan to boost productivity.
• Delivered fiscal transparency during the 2025 WA State Election by processing 200 election commitment costings under Caretaker Conventions despite tight deadlines.
• Supported the 2025 Public Sector Reform, integrating RevenueWA and Procurement Policy and Strategy into the new Department of Treasury and Finance.
• Launched Treasury’s Multicultural Plan 2025-27 to create a workplace that fosters equitable participation and celebrates diversity.
• Delivered ‘Empowering CFOs’ program, training 120 CFOs to enhance financial expertise and public sector efficiency.
• Enhanced staff capability through the Storytelling Capability Uplift Program, training 139 Treasury staff in policy storytelling to deliver compelling, accessible, and impactful policy advice.
• Delivered the 2025-26 State Budget on 19 June, ahead of the typical election year schedule, incorporating funding for $3 billion in election commitments.
• Treasury was recognised as a CPA Australia Recognised Employer Partner reinforcing its commitment to building capability and preparing future‑ready finance professionals.
• Treasury also released other key publications to support fiscal and economic transparency, including the 2024-25 Government Mid-year Financial Projections Statement (Mid-year Review), Quarterly Financial Results Reports, Annual Report on State Finances, Pre-election Financial Projections Statement and the Financial Management Manual Guidelines.