Agenda item

Bevis Ingram, Senior Adviser (Finance), introduced the report, which presented draft responses to consultations on the Cipfa Prudential Code for Capital Finance in Local Authorities and the Cipfa Treasury Management Code of Practice.

The proposed revisions were more extensive than anticipated, but were aimed at improving governance around capital expenditure and investment decisions by local authorities while not restricting freedoms provided good governance was followed. It was highlighted that one change of interest was that local authorities would be required to produce an annual capital report for members to agree. Draft responses to the consultations were included for members’ comment and agreement.

Decision

The Resourced Board approved the LGA’s response to the consultations on the Cipfa Prudential Code for Capital Finance in Local Authorities and the Cipfa Treasury Management Code of Practice for submission.