PrintLocal Authority Transport Infrastructure Assets
Transport Infrastructure Assets Code – guidance to support asset management, financial management and reporting
In 2006 H M 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.
A draft of the Code has been published for consultation. The final version will be published in February 2010.
To support the consultation a special series of workshops to take participants through key aspects of the Code are being held in November for more information visit CIPFA Property.