Chartered Institute of Public Finance and Accountancy

Agenda

Committee PRUDENTIAL CODE STEERING GROUP
Date 31 May 2001
Time 10.30am
Venue Conference Room, CIPFA, 3 Robert Street, London WC2N 6RL

1 INTRODUCTION TO THE WORK OF THE STEERING GROUP PCSG 1 00/01

To receive a report on the protocol, terms of reference and composition of the Steering Group, and to invite the views and objectives of members on the Prudential Code developments.

2 APOLOGIES

3 STATUTORY BACKGROUND

To receive papers on the latest position with respect to proposals for the statutory control frameworks for local authority capital finance from:

(a) HM Treasury - national limit on borrowing. PCSG 2 00/01
(b) DETR - primary legislation in England and Wales and secondary legislation in England PCSG 3 00/01
(c) National Assembly for Wales - secondary legislation in Wales PCSG 4 00/01
(d) Scottish Executive - primary and secondary legislation in Scotland - Oral report

4 OUTLINE OF PROCESS AND ISSUES TO BE DEVELOPED FOR THE PRUDENTIAL CODE PCSG 5 00/01

To discuss a report on the outline of process and issues to be developed for the Prudential Code and agree next steps.

5 IDENTIFICATION OF ANY OTHER MATTERS WHICH NEED TO BE CONSIDERED WITHIN THE PRUDENTIAL CODE

For discussion.

6 THE ROLE OF DEPRECIATION

CIPFA has indicated to the government that, in the longer term, depreciation could play a useful role in a new prudential system. The Steering Group is asked to agree to receive a report on this at its next meeting

7 ANY OTHER BUSINESS

8 DATES OF NEXT MEETINGS

To agree forward dates, ideally for mid-July and mid-September.