Capital Success: Good Practice in the Implementation of the Prudential Code

The introduction of the prudential system is a striking success for local government. It has given local authorities the freedom to make their own capital investment decisions based on locally calculated indicators reflecting their individual circumstances. Capital Success: Good Practice in the Implementation of the Prudential Code shows what has already been achieved and provides inspiration for the delivery of yet more service improvements in the future.

At the heart of this publication is a series of case studies based on a wide-range of different authorities and services. Some are large or high-profile projects, others are smaller and more mundane. But all are important for the delivery of high quality local transport, housing, education, cultural and leisure services. The case studies demonstrate very clearly how the prudential system has allowed improved returns from corporate assets, more effective partnership working and better customer contact.

The prudential system is more than just individual projects. It also allows authorities to integrate their revenue and capital budgeting for more effective medium-term financial planning. As well as studying these top level corporate processes, the case studies show how authorities have introduced more rigorous and sophisticated project appraisal techniques.

Financial managers and advisers will want to study this publication for its detailed practical examples of the calculation and presentation of indicators and methods of overcoming any remaining barriers to realising the full benefits of the prudential system. It also has a much wider audience with elected members, managers and partners in the wider public or private sectors. It demonstrates how local authorities are now able to respond more flexibly to the aspirations of the communities they serve.

This title is also available in CD-ROM format. It comes complete with a licence for networking to all bona fide employees and elected members of the purchasing local authority. Details of licencing arrangements for non-local authority purchasers are available from CIPFA’s Publications Department.