Technical Note No. 1 How to Account for PFI Transactions
The Status of Taskforce Technical Notes:
This is the first in a series of be issued by the Treasury Taskforce providing practical guidance on key technical issues which arise from the implementation of the Private Finance Initiative (PFI). Each technical note will focus on a specific area of the procurement process where experience has shown that project managers value assistance.
The Treasury Taskforce will also be issuing Statements of Policy as a separate series of publications.
The Structure of this Note:
Section 2 of this statement sets out the context to the accounting issue in PFI. Contact details for further sources of information are given in Section 3. The Accounting Guidance referred to in Section 2 is reproduced at Annex A.
In June 1997 the Bates review of the machinery of PFI recommended that the Treasury Taskforce should issue guidance on the accounting for PFI transactions by the 30 September 1997. This technical note fulfils Malcolm Bates recommendation.