Now-defunct districts relying on short-term borrowing to finance commercial investments have left Somerset Council exposed to higher interest rates and with assets currently losing money, its finance...
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.
Concerns over a “completely unsustainable” financial position have forced the London Borough of Croydon to request additional government support, including the write-off of more than £500m of debt.
Warrington Borough Council is set to discuss its borrowing and capital investment strategies with CIPFA, in an attempt to show how its approach, previously flagged as a concern by the government, “is...
A senior local government official has revealed the commissioners appointed to Thurrock Council will get additional powers to help turn the authority around.
Concerns over additional borrowing have prompted Bournemouth, Christchurch and Poole Council to reduce the number of new homes it plans to build in a regeneration scheme.
Financial market instability caused by the government’s mini-budget has pushed Public Works Loan Board borrowing rates up to their highest point in a decade, piling more pressure on council finances.
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.
Debt-ridden Slough Borough Council has decided to sell three pieces of land owned by a joint-venture company because it believes developing them would add too much to its already-high borrowing.
An authority that borrowed almost £8m to construct a new building for post-Brexit border checks has urged the government to reimburse its costs after new controls were delayed, meaning the facility...
Crisis-hit Slough Borough Council has been instructed to sell the majority of its property holdings in a bid to get its finances back on a sustainable footing.
A council in south east England has discussed its high debt levels with the government, amid concerns it could fall foul of proposed capital risk interventions.
CIPFA has welcomed government proposals to take greater intervention powers over council finances, saying they could help identify potential problems at an earlier stage.
The local government secretary will get new powers to direct asset sales and borrowing levels at councils deemed to be at financial risk, under a clause in this week's Levelling Up Bill.
Local authority borrowing from the Public Works Loan Board remains low following four Bank of England interest rates hikes, after councils capitalised on record low finance last year,...
Councils received £700m more than they spent last year, down 90% on the 2021-22 surplus, while the overall public sector deficit fell by more than a half.
An Essex council is set to borrow up to £100m to lend to local businesses that cannot access mainstream lending for projects supporting regeneration within the borough.
A district council has urged CIPFA to amend proposed changes to the Prudential Code, saying they could force it to sell commercial property it claims is vital to supporting services.
