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.
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.
Following the news that TfN’s annual budget for next year has been cut by the government, PF spoke to Iain Craven, director of finance at the group to shed further light on the situation.
A mechanism to give private investors control of public nuclear projects is still considered a “credible basis” for funding the sector, the government said today as it launched its energy white paper.
A team sent in by ministers has concluded that Nottingham City Council cannot set a balanced budget for next year without government support, according to a leaked report.
NHS Tayside’s high running costs remain a risk, although the health board has improved its financial management, the Scottish spending watchdog has said.
Croydon Council has issued a section 114 notice banning all non-essential spending, due to the “severe ongoing financial challenges” facing the authority.
Local government pension schemes in Lincolnshire, South Yorkshire and Tyne and Wear have invested a combined £97m into a ten-year residential investment fund.
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.
The monthly financial impact of Covid-19 on councils in England has fallen below £1bn for the first time since the start of the crisis, running at 60% of the £1.5bn peaks in April and May.
London Borough of Croydon has been accused of "corporate blindness” over its financial position in a rare public interest report compiled by audit firm Grant Thornton.
Levels of reserves for councils in England dropped by £900m in 2019-2020 to £23.7bn, according to outturn figures published by the Ministry for Housing, Communities and Local Government.
Councils in England are set receive to an additional £30m to fund measures including Covid-19 marshals, to ensure the public and businesses follow coronavirus rules.
Public sector organisations should look into how they plan to exit private finance initiatives or they could face disruption to services, says Ian Tasker.
Local authority expenditure on Covid-19 dropped in August to £567m, down from £594m in July, according to latest statistics from the Ministry of Housing, Communities and Local Government.
A London council is likely to have to issue a section 114 notice if a bid to use capital funds for revenue services is refused by central government, its section 151 officer has indicated.
Peterborough City Council is to review the running of cultural and leisure services in the city, following the termination of its outsourcing agreement and transfer of responsibilities for running...
Moray Council risks depleting its entire fund reserves in just four years as it attempts to offset annual deficits, the Scottish Accounts Commission has warned.
