A council is to use £10.5m of reserves earmarked for tackling Covid-19 to slash the amount of capital borrowing needed to fund services under special arrangements approved earlier this year by...
The London Borough of Bexley has decided not to use £5.1m additional financing flexibilities it was granted by central government this year, due to a “sound” financial position.
Nottingham City Council members have been warned that the use of reserves to balance its budget this year “is not recommended”, after a forecast £11m gap emerged.
Nottingham City Council’s scrutiny of wholly-owned companies remains “superficial and inadequate” a year after its auditors raised similar concerns, according to an independent report.
Eight struggling local authorities will be subject to financial healthchecks by CIPFA as they await approval on £72.5m of government support, ministers have announced.
Peterborough City Council’s external auditors have raised serious concerns about the financial situation of the authority, which has become reliant on additional government support.
Local authorities who have applied for greater financial flexibilities to help balance their books could be waiting in limbo until September to receive confirmation, a senior civil servant said this...
The London Borough of Croydon expects to receive the majority of “at-risk” loan interest from its crisis hit housing company Brick by Brick in 2020-21, according to its finance chief.
The London Borough of Croydon has withdrawn its section 114 notice, following the government’s decision to grant support allowing the authority to balance its 2020-21 budget.
Nottingham City Council has accepted the terms of a capitalisation direction allowing it use £35m to spread deficits from its now defunct energy company and implement planned transformation projects.
A capitalisation direction to be considered by Nottingham City Council on Friday will be used to spread losses from its failed energy company which left a £38m hole in council finances.
Central government has given London Borough of Croydon permission to use £70m of capital resources on revenue spending in order to balance its budget – with another £50m likely to follow.
The government is close to approving two capitalisation directions worth £12.8m to help Eastbourne Borough Council meet funding gaps caused by Covid-19.
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.
Leeds City Council has withdrawn its application for permission to use capital resources on day-to-day services following a funding boost from government.
Croydon Council has been unable to set out more than £11.2m of in-year savings towards a £67m shortfall this year – saying the task is impossible without central government support.
A council granted a capitalisation direction in March has warned it could be forced to deplete its usable reserves down to “unsustainable levels” to help meet an £11m funding gap.
London Borough of Bexley last week announced it is in discussions with Whitehall officials over an application to use capital borrowing to fund services. Council leader Teresa O'Neill and director of...
