An improved financial outlook means Peterborough City Council is unlikely to need to use capital financing flexibilities which it previously requested from central government, it has emerged.
Wirral Council has approved a financial recovery plan which includes suspending a planned £5m investment to create a community bank, following a critical government-commissioned review.
The London Borough of Croydon still needs to close a predicted £13m budget gap next year, despite hoping to receive £25m of financing flexibilities alongside proposed additional savings.
The working balance of general fund reserves at cash-strapped Peterborough City Council is inadequate to deal with the financial risks the authority faces, according to its finance team.
An improving financial position for Wirral Council has led to the authority reducing the level of expected government support this year by £3.5m, according to its finance chief.
The government should not provide additional financial flexibilites to Peterborough City Council unless it offloads at least £43.5m of property, according to a review by CIPFA.
The behaviour of senior officers at Thanet Borough Council fell below “the standard expected on a number of occasions”, with the cost of resulting investigations putting the authority’s financial...
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.
Councils in England will be required to provide more information on reserve levels to the government, in a bid to improve Whitehall's understanding of financial risks.
Shetland Island Council must reduce its reliance on reserves to help manage budgetary pressures in future years, according to the authority's finance chief.
City of Edinburgh Council’s use of its general fund reserves is unsustainable and will be unable to cover future economic shocks, Audit Scotland has warned.
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.
Councils lack the necessary reserves to meet the £2bn shortfall local authorities still face from the impact of Covid-19, according to the Institute for Fiscal Studies.
Cornwall Council is to become the first council in England to pass on government funding and provide financial support for parish and town councils impacted by the coronavirus pandemic.
The Royal Borough of Windsor and Maidenhead has been warned it could be forced into a section 114 notice in a CIPFA report which found a flawed process for setting reserve levels.
