local authority transport infrastructure assets

The Code of Practice on Transport Infrastructure Assets provides guidance on asset management, financial management and reporting.

In 2006 HM Treasury and the Department for Transport commissioned CIPFA to carry out a review of accounting, management and finance mechanisms for local authority transport infrastructure assets. Following consultation, the final review report was issued in 2008, and the government's response, which accepted the review’s findings and recommendations, was published in January 2009. To support implementation, the Government asked CIPFA to produce a new code that would deliver robust, consistent financial information to support transport asset management, financial management and reporting.

Implementation is being overseen by a project implementation steering group which includes representatives of the UK government and devolved administrations, local government, and national and local audit bodies. Detailed development work is being undertaken in collaboration with the Highways Asset Management Financial Information Group (HAMFIG) which includes local authority representatives from England, Scotland and Wales. 

The code will also be used to report the assets on a current value basis in Whole of Government Accounts. HM Treasury has set a timetable for a gradual transition to reporting on this basis, building up to capturing a complete set of data in 2012/13.

The Code is being updated in 2013 to strengthen the links to the Code of Practice on Local Authority Accounting and consultation on the proposed changes will take place over the summer.  The consultation will be available at http://www.cipfa.org/policy-and-guidance/consultations

The revised version will be available to purchase, in book and CD ROM formats.

You may also like to see some supporting documents.