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7 Mar 22
The government has confirmed the London Borough of Croydon will receive £50m of financing flexibilities to help balance the 2021-22 budget, with further support for 2022-23 under consideration.
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28 Feb 22
The London Borough of Croydon has warned it is at risk of issuing a Section 114 notice next year, after auditors raised questions about the accounting treatment of £73m received from subsidiary...
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15 Feb 22
The London Borough of Croydon is set to sell two properties to reduce the amount of borrowing it needs to fund exceptional capital freedoms granted by central government.
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10 Feb 22
The London Borough of Croydon has launched an internal fraud probe into a major council-run regeneration project, and has handed a critical public interest report from its auditors to the...
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26 Jan 22
London Borough of Croydon failed to ensure it was acting lawfully over an agreement with its housing subsidiary Brick by Brick on a major regeneration project, auditors have found.
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29 Nov 21
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.
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18 Aug 21
The London Borough of Croydon has appointed its fourth finance director in less than three years, as the council strives to improve its financial situation.
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2 Jul 21
The London Borough of Croydon may need to write-off up to £52m in loans to wholly-owned housing firm Brick by Brick, after rejecting the sale of the company.
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18 Jun 21
The London Borough of Croydon has rejected the first offer to buy its housing subsidiary Brick by Brick, according to advisors.
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8 Jun 21
London Borough of Croydon is to close a subsidiary company selling adult mobility aids after it lost almost £300,000 in three years.
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2 Jun 21
The London Borough of Croydon has delayed plans to scrap a project which would have seen the authority transfer housing assets to its pension fund.
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25 May 21
The London Borough of Croydon is set to drop plans to transfer homes built by subsidiaries into its pension fund to help reduce employer contributions.
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12 May 21
The London Borough Croydon has proposed reprofiling a £69.2m arts centre refurbishment as capital spending, after council subsidiary Brick by Brick was “unable” to fund the project.
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21 Apr 21
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...
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15 Apr 21
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.
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6 Apr 21
The London Borough of Croydon’s housing company Brick by Brick recorded losses in excess of £800,000 in 2019-20.
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31 Mar 21
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.
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26 Mar 21
Section 114 notices are unfit for purpose, two senior officers at the London Borough of Croydon – which issued two last year due to financial problems – told MPs this week.
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17 Mar 21
The London Borough of Croydon is set to cut its regeneration fund by 89% next year, to allow for a review on the programme to take place.
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8 Mar 21
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.
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22 Feb 21
Experienced local government finance officer Chris Buss is joining London Borough of Croydon as director of finance on an interim basis, after the resignation of current post holder Lisa Taylor.
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11 Feb 21
The London Borough of Croydon is set to invest up to £10m to keep its cash-strapped housing company Brick by Brick afloat while it seeks a buyer.
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1 Feb 21
The government has “no other credible alternative” to granting the London Borough of Croydon a capitalisation direction to ease its financial woes, a review it commissioned has concluded.
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14 Jan 21
London Borough of Croydon is likely to lend more money to its cash-strapped housing company Brick by Brick, it has revealed.
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5 Jan 21
Cash-strapped London Borough of Croydon will not need to issue a third section 114 notice this financial year, after advice from CIPFA.
7 Mar 22The government has confirmed the London Borough of Croydon will receive £50m of financing flexibilities to help balance the 2021-22 budget, with further support for 2022-23 under consideration.
28 Feb 22The London Borough of Croydon has warned it is at risk of issuing a Section 114 notice next year, after auditors raised questions about the accounting treatment of £73m received from subsidiary...
15 Feb 22The London Borough of Croydon is set to sell two properties to reduce the amount of borrowing it needs to fund exceptional capital freedoms granted by central government.
21 Apr 21Local 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...
