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What's New With the Prudential Code
CIPFA's spring 2018 Local Government Conference will examine closely the changes in relation to the Prudential Code – and what they will mean for local government.
With all four Prudential Codes having been updated in recent weeks, this conference will provide the ideal opportunity for practitioners to understand what these updates will mean for them, as well as to be introduced to the reasons for the changes.
Prudential borrowing and changes to the Code will impact on all parts of the council. Therefore, any CIPFA Network pre-paid place can be used to attend this event.
02 May 2018Starts: 10:00Ends: 15:30
RP Martin - LondonLevel 31 Snowden StreetLondonEC2A 2DQ[See map]
£150.00 excl VAT
The conference benefits from an excellent lineup of speakers from all parties involved in setting the Codes. We start with our keynote (Rob Whiteman – Chief Executive of the Institute) who will emphasise why it is so important that the sector should retain this self-regulatory borrowing regime. We will also have speakers from the Ministry of Housing, Communities and Local Government (MHCLG) and the National Audit Office (NAO) outlining what the government is now expecting from the sector on the back of these changes, including some raised requirements on what is considered transparent, evidence-based and sustainable in a council’s investment strategy.
The event will provide a comprehensive update on what CIPFA and central government both see as good and necessary practice in support of a council’s borrowing and investment strategy. The day will also include expert advice on managing risk in the procurement process (as local authorities continue to get far more active and imaginative with their investment decision making), with options shared on funding options outside of the prudential system.
The conference will give practitioners the opportunity to speak directly with members of CIPFA’s Treasury Management Panel, who make the changes to the Code, and who will be looking for timely feedback on whether they are now right for today’s investment landscape and appetite.
Council staff who would benefit from attending include: corporate finance and treasury management leads, commercial directors, transformation and policy managers, housing and regeneration staff, accountants, tax advisors, finance practitioners, solicitors, and project managers and auditors who are involved in any part of a council’s capital investment and borrowing strategy.
Key highlights include:
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Message from CIPFA's Chief Executive - Rob Whiteman:
Rob Whiteman will set the scene for the day by outlining the crucial role of the Prudential Code for local government and why the sector needs to make effort to retain this self-regulatory borrowing framework.
The updated LA Investment Guidance and MRP Guidance - the intent behind Government's changes - Gareth Caller, Head of LG Capital Finance, MHDCLG:
Updates to existing MRP rules and capital investment strategies, as outlined in latest government guidance, has come about for a reason. Gareth will share with practitioners what these reasons are in more detail and outline what they will now be looking for from practitioners under this revised prudential framework.
View for the National Audit office - Aileen Murphie, NAO:
The NAO have raised a number of concerns on the risks that some councils are taking, where long term investment decisions are driven by short term business and funding strategies. All investments can go down as well as up, and with IFRS9 now in play, this is a real risk that could become even more acute for the smaller councils with high debt (gearing) and fair value adjustments hitting the revenue account. In this session Aileen will offer a striking assessment of the NAO's research in this area and help to identify some of the early warning signs that all councils need to be alert to.
Cliff is a qualified CIPFA accountant and shared service practitioner. He is CIPFA's head of networks, representing the Institute and shaping policy voice, position statements and speaking at events on local government and transformation issues. Cliff has also worked for 20 years in local government.
E: email@example.com, T: 01904 671938.
Rob Whiteman has been CEO since September 2013. Before joining the Institute, he was a senior civil servant who worked as the chief executive of the UK Border Agency and had previously led the Improvement and Development Agency. Prior to this he was CEO of the London Borough of Barking and Dagenham and director of resources at the London Borough of Lewisham.
Don is a qualified accountant and leads CIPFA’s policy and technical work from the Institute’s Scottish HQ in Edinburgh.
Don’s background is local authority finance, having trained initially at a Scottish local authority. He also worked for Audit Scotland prior to joining CIPFA in 2002 as policy and technical officer becoming policy and technical manager in 2004 before becoming head of CIPFA Scotland in November 2013. E: firstname.lastname@example.org, T: 0131 221 8640.
A chartered accountant, for the past three years Gareth has worked in DCLG with policy responsibility for the Capital Finance System and local government accounting. Prior to that he was a financial audit manager at the NAO with responsibility for a range of central government departments, agencies and non-department bodies including the Public Works Loan Board.
Aileen is responsible for delivering value for money work for the Department for Communities and Local Government. She is also responsible for the NAO's reports on local government in England. Aileen has been with the NAO for over ten years and her expertise is evident from her many published articles as well as her speaking engagements. She has written articles on managing demand, money and quality and commissioning with the voluntary and community sector.
Chris Brain is an FRICS qualified surveyor and Senior Property Advisor within the CIPFA group. Chris delivers the CIPFA’s Strategic Assets Network, Property Training Network and Highway Asset Management Network, as well as advising on asset management and asset valuation issues throughout the UK and undertaking a range of related consultancy.
Mike is a highly experienced local government and public procurement specialist with a strong track record in delivering complex, major transactions for the public sector. He is known for pragmatic and practical approach to problem solving.
He is recognised as one of the leading public procurement advisers, dealing with advice on procurement strategies, compliance as well as defending and bringing related challenges. He is particularly skilled in advising on alternative delivery vehicles for local services, including the use of trading companies, joint ventures and mutuals and cooperatives.