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The Public Spending Code
From Department of Public Expenditure, NDP Delivery and Reform
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All Irish public bodies are obliged to treat public funds with care, and to ensure that the best possible value for money is obtained whenever public money is being spent or invested.
The Public Spending Code is the set of rules and procedures that ensure that these standards are upheld across the Irish public service. In September 2013, departments and offices were formally notified by circular that the Public Spending Code is in effect. In July 2019 it was updated with this circular, which updated the central technical references and economic appraisal parameters in the Spending Code.
In November 2021, this circular updated the Public Spending Code as it applies to guidelines for the External Assurance Process for Major Public Investment Projects.
In March 2023, the Minister for Public Expenditure, National Development Plan Delivery and Reform informed Government of changes to the capital appraisal guidelines as part of package of significant actions aimed at enhancing delivery of the NDP. Circular 06/2023 outlines key changes to the Public Spending Code including an increase to thresholds for major projects and the requirements for major projects at different stages in the project lifecycle. Further appraisal guidance will be published shortly, known as the Infrastructure Guidelines, as part of capital project development, which will supercede the existing Public Spending Code.
Image: PSC infographic top updated 22022022
Image: PSC infographic bottom updated 22022022
Public Spending Code : A Guide to Evaluating, Planning and Managing Public Investment
This Guide sets out the value for money requirements for the evaluation, planning and management of public investment projects in Ireland. Published in December 2019, it sets out the roles and responsibilities for Sponsoring Agencies and Approving Authorities and provides detail on the requirements at each stage of the project lifecycle.
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Guidelines for Evaluating, Planning and Managing Current Expenditure
This guidance sets out the ex ante requirements before new Current expenditure programmes are undertaken by the Sponsoring Agency or approved by the Approving Authority, or before extensions to existing current expenditure programmes are approved.
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Guidelines for the use of Public Private Partnerships
The 2006 Public Private Partnership (PPP) guidance has been revised to better reflect evolving good practice, to ensure alignment with the provisions of the Public Spending Code, and to introduce certain new and updated provisions including changes to the Public Sector Benchmark and clarification on the Value for Money Comparison exercise.
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Public Spending Code: Quality Assurance Process
The PSC Quality assurance process is a tool to assist Departments and agencies in the more efficient management of public investment through review of past practice as a means to improvement in the future. This guidance document sets out the main elements of the PSC quality assurance process and the steps to be taken in carrying out the annual quality reporting requirement of the PSC
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Regulatory Impact Analysis Guidelines
This guidance document sets out the rational for Regulatory Impact Analysis (RIA) and is intended to provide assistance to officials conducting RIAs. Regulatory Impact Analysis is a tool used for the structured exploration of different options to address particular policy issues.
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Value for Money Review and Focused Policy Assessment Guidelines
This document sets out guidance on two of the evaluation methodologies used across the civil service; namely Value for Money Review (VFMRs) and Focused Policy Assessments (FPAs). This guidance document introduces the main elements involved in undertaking a VFMR or an FPA including the steps to be taken and the various analytical approaches on offer to the review team.
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Overview of Appraisal Methods and Techniques
This document outlines the main appraisal methods and techniques which should be used as part of the Public Spending Code. It provides a brief introduction to each technique and contains reference material at the end of the document.
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A Guide to Economic Appraisal: Carrying out a Cost Benefit Analysis
This document provides an introductory guide to cost benefit analysis (CBA). It sets out the aims and principles of CBA and highlights the main technical issues in estimating costs and benefits.
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Central Technical References and Economic Appraisal Parameters
This document sets out the key central technical references and parameter values for use in financial and economic appraisal. The parameter values apply to all economic appraisals and evaluations undertaken in compliance with the Public Spending Code, and should be used by government departments and State agencies undertaking economic appraisals.
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Public Spending Code Supplementary Guidance - Measuring & Valuing Changes in Greenhouse Gas Emissions in Economic Appraisals
These guidelines provide further assistance in calculating and valuing greenhouse gas emissions when performing a policy appraisal.
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This document provides a guide to carrying out a financial analysis as part of the Public Spending Code. It provides supplementary guidance for public sector bodies conducting the financial appraisal element of the Preliminary and Detailed Business Case stages of a public investment proposal. It has been updated to reflect the Public Spending Code Guide to Evaluating, Planning and Managing Public Investment 2019.
This guide sets out the principles for conducting a financial analysis and provides supporting templates designed in the main for the conduct of projects under €1m and over €1m. These templates can be accessed below
