The Government’s Reform Program in relation to asset and office accommodation management began in 1996 but it was in 1998 that Government decided it required a high-level body with a whole-of-government focus to drive its program of reforms. The Government Asset Management Committee was established to ensure the effective management of Government’s significant investment in assets and office accommodation.

The Committee is chaired by the Director-General Premier's Department and members include the Chief Executive Officers of The Treasury, Department of Commerce, Attorney General's Department, Roads and Traffic Authority, Department of Infrastructure, Planning and Natural Resources and Forests NSW. The Committee generally meets quarterly but this can be more often when required.

The Committee’s terms of reference are to provide advice to the Budget Sub-Committee of Cabinet on:

• The alignment of asset and office accommodation resources with Government’s service delivery priorities.
• The appropriateness of agency asset management strategies.
• Strategic asset and accommodation issues involving more than one agency.
• Office accommodation strategies for metropolitan and regional areas.
• Major investment strategies - acquisition, major refurbishments, lease pre-commitments, leasehold, and asset and property disposals.
• Benchmarks and performance standards for asset and property portfolios.

A Senior Officer Sub-Committee has been established under the GAMC to meet regularly and consider matters prior to their referral to the GAMC. The Senior Officer Sub-Committee is chaired by Treasury and its membership comprises representatives of the CEOs on the GAMC. The Sub-Committee generally meets quarterly but this can be more often when required.

The Secretariat for the Committee is provided by the Treasury.