Section 151 officers face a 'tipping point’ requiring tough decisions on whether to follow London Borough of Croydon in issuing a section 114 notice, CIPFA chief executive Rob Whiteman has told MPs.
Around 80% of county and unitary authorities are expected to make cuts next year in order to set a balanced budget, according to a survey from the County Councils Network.
Croydon Council has issued a section 114 notice banning all non-essential spending, due to the “severe ongoing financial challenges” facing the authority.
An investment strategy agreed by Cotswold District Council to borrow more than four times its annual budget has been labelled deeply concerning by its opposition leader.
A 25% increase in audit fee variation rates for 2020-2021 is being proposed by the Public Sector Audit Appointments, following recommendations from the Redmond Review.
Councils in England are set to receive an additional £170m in government funding following a government U-turn over additional support for low-income families this winter.
Capital receipts for councils in England dropped by more than 30% last year to £2.8bn, the lowest level in the last five years, according to government statistics.
Manchester City Council is set to fundamentally review its size and structure, warning that efficiency savings cannot not cover a forecast £135m funding gap next year.
Ipswich Borough Council has approved plans to use all but £50,000 of its usable reserves above its legal buffer by March 2024, to help offset future Covid-19 pressures.
Following the pricing of a £250m bond by the London Borough of Sutton, PF speaks to David Whelan, managing director of public sector treasury at Link Group, which advised on the deal.
Audit firms Mazars and Grant Thornton have been asked to implement quality action plans after the Financial Reporting Council was critical of audit quality.
A London council is set to launch a private placement bond through a digital platform to refinance debt and help fund its capital programme for the next four years.
London Borough of Newham is to loan a further £4m to its own development company, after a leisure centre operator pulled out of a development project due to Covid-19.
Councils face a massive rise in business rates appeals, which have reached around 1,000 a day as a result of Covid-19, according to real estate firm Colliers.
London Borough of Croydon has been accused of "corporate blindness” over its financial position in a rare public interest report compiled by audit firm Grant Thornton.
Levels of reserves for councils in England dropped by £900m in 2019-2020 to £23.7bn, according to outturn figures published by the Ministry for Housing, Communities and Local Government.
