Over-reliance on falling commercial income and high debt mean Woking Borough Council is “in the territory” of needing to issue a section 114 notice and has already stopped non-essential spending.
Trafford Council has removed a multi-million-pound loan facility for the development of an office campus after the company failed to draw down the finance.
Senior consultant at CIPFA Mark Williams clears up what the Prudential Code for Capital Finance in Local Authorities means for councils, and why the institute updated the framework last year.
