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Service Reporting Code of Practice 2024/25
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Code of Practice Guidance Notes 2023/24
These sector-specific guidance notes draw attention to the requirements of statutes and regulations, and to common practices and current issues specific to local authority treasury management. They should be read in conjunction with the Treasury Management Code of Practice and the Prudential Code for Capital Finance.
This guidance provides practitioners with a practical interpretation of the Prudential Code. It will enable them to meet its key principles of ensuring that capital programmes are affordable, prudent and sustainable and explain this effectively to those charged with governance.
This code has been developed to meet the needs of local authorities (including PCCs and fire authorities), registered social landlords, further and higher education institutions, and NHS trusts, in order to provide a clear definition of treasury management activities.
The framework established by the Prudential Code should support local strategic planning, local asset management planning and proper option appraisal. The objectives of the Prudential Code are to ensure, within this clear framework, that the capital investment plans of local authorities are affordable, prudent and sustainable.
These guidance notes offer constructive advice and assistance to practitioners and external auditors on all aspects of the detailed application and implementation of the Code of Practice on Local Authority Accounting in the United Kingdom 2021/22.
The guidance notes are your expert support in dealing practically with the preparation of the year-end financial statements and reports that accompany them.
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