Laura Sharman 25 June 2021

CIPFA to publish strengthened local government Prudential Code

CIPFA to publish strengthened local government Prudential Code image

A new code of practice to ensure local authorities’ financial plans are 'affordable, prudent and sustainable' will be published by the end of the year.

CIPFA said the strengthened Prudential Code will clarify what constitutes prudent borrowing activity and stop a small number of authorities from misinterpreting its provisions.

CIPFA CEO, Rob Whiteman, said: 'CIPFA is committed to maintaining a principles-based system that gives local authorities the freedom and protection to invest in their communities. It is the actions of a minority of outlying authorities that are putting those freedoms at risk of further government intervention into the Prudential Framework.

'We are confident that the proposals we will be implementing will put an end to actions that either push the boundaries of the Prudential Code or intentionally misinterpret its provisions.'

Other key changes includes requiring a local authority to incorporate an assessment of risk against levels of resources, clarifications to better define commercial activity and investment and the introduction of the Liability Benchmark as a Treasury Management indicator.

SIGN UP
For your free daily news bulletin
Highways jobs

Residential Assistant

Essex County Council
£25081.00 - £25395.00 per annum
Residential AssistantPermanent, Full Time£25,081 up to £25,395 per annumLocation
Recuriter: Essex County Council

Senior Planning Officer

Durham County Council
Grade 11 £39,513 to £43,693 Grade 12 £42,708 to £46,731 per annum (Pay Award Pending)
Durham County Council is looking for experienced and knowledgeable Senior Planning Officers to join our vibrant Development Management team. Our team Durham
Recuriter: Durham County Council

Head of Service – Social Care

Wrexham County Borough Council
G15 £63,148 - £67,058 per annum
There is an exciting opportunity within Children Social Care to join the senior management team Wrexham (Wrecsam)
Recuriter: Wrexham County Borough Council

Head of Service Social Work & Specialist Support

Blackburn with Darwen Borough Council
Grade M scp 60 £72,118 - scp 64 £77,293
There couldn’t be a more exciting time to join us. Blackburn, Lancashire
Recuriter: Blackburn with Darwen Borough Council

Cafe Assistant - Weald Country Park

Essex County Council
Up to £13.3000 per hour
Café Assistant (Weald Country Park)Contract
Recuriter: Essex County Council
Linkedin Banner