The Prudential Code has formalised the need for a broad review of different financing options as part of the financial decision-making process. CIPFA believe this is potentially the most significant and positive change in local authority finance for decades, and will enable authorities to take greater control of their investments in the fixed assets that are central to the delivery of quality local public services.

Arlingclose, in association with a leading software house - Field Solutions - has developed a unique and exclusive options appraisal software package which fully evaluates the financial implications of various funding options.

The GO4OPTIONS software package empowers local authority officers to make better-informed financing recommendations with an easy-to-use product which demonstrates compliance with the new Prudential Code, Best Value Regulations and also provides a record and audit trail for auditors under the Audit Commission's Comprehensive Performance Assessment (CPA).

Historically, decisions have been influenced by the capital accounting rules associated with various funding options. Whilst accounting considerations are still important, a review of cost to the local authority needs to be carried out to comply with Best Value, Prudential Accounting Rules and instill a professional decision making process.

The software package offers the following features:

• Full cash flow analysis including present value analysis of each financial instrument.
• Incorporates the elements of asset acquisition that influence the decision such as residual value, asset depreciation, VAT and even accounting issues.
• Full customised reports to justify particular decisions, and display to committees that a full Prudential Code compliant appraisal has been carried out of all financing options.
• Full technical support from an established and professional software company.
• Invaluable sensitivity analysis to examine how changes to factors such as interest rates, asset life and rental period, can affect a decision.
• Project-based analysis with reports customised specifically to the project.
• Greater security and protection features (and more professional than a spreadsheet).
• SSAP21 compliant with full analysis of finance and operating leases, hire purchase, cash, contract hire, market loans and PWLB loan funding options

GO4OPTIONS has been developed to allow an objective and unbiased evaluation of each and every funding option.