The Prudential Code for capital finance in Local Authorities (CIPFA), introduced in April 2004, enables authorities to determine their own level of capital expenditure according to what they consider to be affordable, sustainable and prudent.Prudential borrowing may form one element of the capital investment plans by local authorities, which, as a whole, must adhere to the indicators set out in the CIPFA Prudential Code.Prudential borrowing is additional to borrowing supported by the Scottish Executive and, as such, is self-funded...