The Chartered Institute of Public Finance and Accountancy (CIPFA) Prudential Code requires local authorities to produce a capital strategy to demonstrate that capital expenditure and investment decisions are taken in line with desired outcomes and take account of stewardship, value for money, prudence, sustainability and affordability.

The capital strategy is a key document for the Police and Crime Commissioner (PCC) and Merseyside Police and forms part of the authority’s integrated revenue, capital and balance sheet planning.

The strategy is intended to give a high level overview of how capital expenditure, capital financing and treasury management activity contribute to the provision of services along with an overview of how associated risk is managed and the implications for future financial sustainability.

It includes an overview of the governance processes for approval and monitoring of capital expenditure.

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