Recognizing that the introduction of International Public Sector Accounting Standards would place new emphasis on the value of an organization’s assets and thus presented an opportunity to assess potential best practices, particularly with respect to capital budgeting which would facilitate the structuring, financing and monitoring of capital investment activities, and with a view towards addressing greater harmonization in United Nations system budgetary practices, the High-level Committee on Management Finance and Budget Network established a working group during the reporting period to develop a proposal for options for capital budgeting solutions for organizations of the United Nations system. Based on the results of a broad survey, the working group identified a common conceptual framework for the introduction of capital budgeting. The framework provides principles and definitions for capital budgeting in organizations of the United Nations system and offers guidelines on a series of other critical elements, capital budgeting policy, governance, scope and restrictions, structure, financing and compliance with the Standards.