COVID-19: LOCAL ADVICE AND GUIDANCE My Account Do you have financial worries? Find out about financial help available to you Home Council Governance and spending Budgets and spending Capital investment programme Information about how we invest in and manage capital projects including building and refurbishment schemes and how we decide where to invest. Where are the council's prudential indicators? What capital projects is the council investing in and where are they? How does the council decide which capital projects to undertake? How are the capital projects managed? Where are the council's prudential indicators? The Prudential Code, produced by the Chartered Institute of Public Finance and Accountancy (CIPFA), is recognised by the Local Government Act 2003 and provides a framework whereby the Authority can decide what it can afford to spend or borrow in respect of capital investment. The Code requires a series of indicators to be calculated which demonstrate that the principles of affordability, sustainability and prudence have been satisfied. Capital Finance - Prudential Indicators 2019-20 to 2021-22 (pdf 4.3mb) What capital projects is the council investing in and where are they? The council has one of the largest capital programmes in the country covering a range of schemes including highways, land, and property. Details of the various projects are available from the asset strategy department using the contact details on the right of the page. How does the council decide which capital projects to undertake? The capital appraisal process is the means by which, on an annual basis, the council decides which capital projects it can finance and add to the capital investment programme of capital and maintenance projects. Proposals for new council investment will inevitably exceed the resources available, therefore choice and priority setting form an important part of our capital appraisal process, ensuring that best choices are made and we achieve the best value for money. Our current capital appraisal processes comply with central government's requirements that all local councils should have in place an approved system for assessing the priority of schemes for capital investment in light of the council business plan, community plan and local priorities. A capital programme must be driven by the desire to provide high quality, value for money public services. In making our capital investment decisions we must have explicit regard to option appraisal, asset management planning, strategic planning for the council and achievability of the forward plan. The approach adopted allows a community focussed capital investment to form an integral part of a sustainable, community planning process. The annual appraisal process also ensures we maintain our three-year investment programme, in line with indicators set out in the prudential code. How are the capital projects managed? All capital projects are monitored on a monthly basis with report taken to the council’s Capital and Revenue Programme Working Group. Full capital programme reviews are undertaken three times a year, reviewing not only expenditure in year, but also expenditure across future years to ensure that resources available can fund planned investment. The council monitors its success in the delivery of capital projects on time and on budget, the results of which are reported in the council’s Capital Investment and Asset Management Strategy and the council’s Business Plan. Stay connected Sign up for the latest news and updates from East Riding of Yorkshire Council. We will use GovDelivery to send you emails, it is secure and you can choose to stop receiving emails at any time. Find out more in our Privacy notice. 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