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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The London Borough of Croydon has withdrawn its section 114 notice, following the government’s decision to grant support allowing the authority to balance its 2020-21 budget.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.
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16 Dec 20
London Borough of Croydon has requested permission from the government to use borrowing earmarked for capital projects on filling its revenue budget gap instead.
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2 Dec 20
The London Borough of Croydon has issued a second section 114 notice after it was unable to make sufficient cuts to balance a forecast £66m overspend in its budget this year.
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25 Nov 20
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.
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23 Nov 20
The financial performance of London Borough of Croydon’s commercial companies and other ventures have consistently missed forecasts outlined in their business plans, according to a review.
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16 Nov 20
The Local Government Association has launched an investigation into whether disciplinary action should be taken in relation to senior management actions at financially-stricken London Borough of...
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11 Nov 20
Croydon Council has issued a section 114 notice banning all non-essential spending, due to the “severe ongoing financial challenges” facing the authority.
18 Aug 21The London Borough of Croydon has appointed its fourth finance director in less than three years, as the council strives to improve its financial situation.
2 Jul 21The 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.
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...
