1.23 To address concerns regarding the transparency of PFI liabilities, in July 2011 the Government published for the first time an assessment of the PFI liabilities in the WGA. This represented a fundamental step towards providing complete transparency over the level of PFI liabilities. The liabilities represent the three elements of the annual unitary charge of a PFI project. This includes the service element to run the project, which typically includes the cost of cleaning, catering, maintenance and security, repayment of the capital asset built and interest on the capital.
1.24 WGA are full accruals based accounts covering the whole public sector and audited by the NAO. WGA consolidates the accounts of about 1500 bodies, from central government, devolved administrations, the health service, local government and public corporations. WGA treats PPP commitments according to IFRS and includes a table summarising the long-term contractual commitments held by all bodies which are, or are similar to, PFI projects. WGA are published on an annual basis.