To support the implementation of the new measurement requirements for the Highways Network Asset, CIPFA is producing a series of briefings.
The first briefing focuses on the decisions made by CIPFA/LASAAC Local Authority Accounting Board following their consultation on the Code of Practice on Local Authority Accounting in the United Kingdom 2016/17. It also includes the Technical Enquiry Service Frequently Asked Question which covers the applicability of the measurement requirements for District Councils and the resources available to support the implementation process.
The second briefing covers the update to the Code of Practice on Transport Infrastructure Assets, which will now be known as the Code of Practice on the Highways Network Asset (the HNA Code), the definition of the HNA, reporting requirements for 2015/16 and the Central Assurance Process.
There are a number of supporting materials produced by the Highways Asset Management Finance Information Group (HAMFIG)
The Code of Practice in 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 (PISG) 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 Transport Code will also be used to report the assets on a current value basis in Whole of Government Accounts.
The Code was updated in 2013 to strengthen the links to the Code of Practice on Local Authority Accounting in the UK.
The revised version is available to purchase, in book and CD ROM formats.
In May 2015, CIPFA published new guidance to the Transport Code that aims to provide practical assistance to enable local authorities to implement the Transport Code effectively. This guidance is intended to be of value to both local authority highways asset managers and finance teams responsible for the completion of the Statements of Account. The aims of the guidance are to
This is to ensure that both parties have an awareness of each other’s needs and to provide information to enable an effective dialogue between the two professions.
The Transport Code will be available to purchase online.
Please note that this guidance was published in May 2015 and therefore does not reflect two key decisions taken by CIPFA/LASAAC in November 2015. The first relates to the implementation date (1 April 2016) with no requirement for 2015/16 to be restated. The second relates to the applicability of the requirements for District Authorities (which has also been the subject of a Technical Enquiry Service FAQ). an update to the Guidance is scheduled for 2016.