Luton Borough Council is predicting a further £30m hit in lost dividend income from Luton Airport over the next two years due to Covid-19, on top of a £16m gap this financial year.
Following the news that TfN’s annual budget for next year has been cut by the government, PF spoke to Iain Craven, director of finance at the group to shed further light on the situation.
A 'back to the future' approach for local government audit is not realistic, according to Steve Freer, chairman of audit oversight body Public Sector Audit Appointments.
Somerset County Council is to write to the prime minister Boris Johnson refuting claims by a county MP that the authority incorrectly used Covid-19 grant funding to balance its books.
The value of government contracts put out to tender last year fell 8% to £101bn, despite large Covid-19 deals, according to government contracts analysis firm Tussell.
Councillors at Lincolnshire County Council have rejected the option of using the 3% increase to the adult social care precept next year which was announced during the local government settlement.
Chancellor Rishi Sunak has announced a grant funding package worth up to £4.6bn to be allocated by councils, to help keep businesses in Britain afloat following the third national lockdown.
Merton Council plans to wind up its wholly owned housing company Merantun Development Ltd, after the company’s business case was deemed “no longer viable”.
Local government secretary Robert Jenrick is to appoint an expert panel to help address “appalling” financial management issues at Nottingham City Council, following a government rapid review.
The government is to reduce the New Homes Bonus to free up funding for local authority grants, it announced as part of the provisional local government finance settlement.
A mechanism to give private investors control of public nuclear projects is still considered a “credible basis” for funding the sector, the government said today as it launched its energy white paper.
The new local government audit body proposed by the Redmond Review should produce an annual report on the whole local government sector, CIFPA has said.
A team sent in by ministers has concluded that Nottingham City Council cannot set a balanced budget for next year without government support, according to a leaked report.