Prudential Code definition
Examples of Prudential Code in a sentence
It should have regard to affordability and also to CIPFA’s Prudential Code for Capital Finance in Local authorities.
The Authority is required by regulation to have regard to the Prudential Code when carrying out its duties in England and Wales under Part 1 of the Local Government ▇▇▇ ▇▇▇▇.
The Prudential Code ensures that within a clear framework the capital expenditure plans of local authorities are affordable, prudent and sustainable, and that treasury management decisions are taken in accordance with good professional practice and in full understanding of the risks involved and how these risks will be managed to levels that are acceptable to the Authority.
The PCC will be advised by her/his CFO on the appropriate level of general balances, earmarked reserves and provisions to be held and the prudential indicators arising from the application of the Prudential Code of Capital Finance in Local Authorities to the proposed revenue and capital budget.
The Prudential Code is a professional code of practice that supports the Authority in taking these decisions.
The PCC will be advised by his/her CFO on the most appropriate level of revenue support and appropriate levels of borrowing to support the capital programme, in line with requirements of the Prudential Code.
Capital plans should be prepared in accordance with CIPFA’s Prudential Code.
In entering into the Agreement and borrowing thereunder, it is acting in compliance with all statutory requirements relating to borrowing which are applicable to it, including (without limitation) the prudential framework established by Part 1 of the Local Government Act 2003 and related regulations, including the Prudential Code for Capital Finance in Local Authorities published by CIPFA, as amended or reissued from time to time.
The framework established by the Prudential Code supports local strategic planning, local asset management planning and proper option appraisal.