Depleting reserves and rising service demand mean Kirklees Council will need to find cuts or additional income worth almost £48m in 2024-25, officers have said.
The reliance on falling commercial income to fill funding gaps at Woking Borough Council has placed the authority’s finances at an “immediate risk”, according to an internal report.
Slough Borough Council will need to sell £100m of property in the next nine months if it is to repay much of its short-term debt without its interest rates effectively quadrupling.
Thurrock Council’s concentrated investment strategy was a failing that resulted in a £470m budget black hole, according to the official turnaround team.
Failed investments have put Thurrock Council in a grave financial position and facing a deficit of nearly half a billion pounds this year, the commissioners sent in to sort out the authority’s...
Crisis-hit Thurrock Council has been given permission by the government to borrow almost £840m from the Public Works Loan Board to repay finance from other local authorities.
Government-appointed commissioners at Slough Borough Council have questioned the authority’s decision to purchase investment properties outside its boundaries, as it prepares to sell assets for a...
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.
Local authority organisations have warned that changes that would change the way councils account for debt servicing on commercial property borrowing could have a “devastating” impact on...
Warrington Borough Council has done a U-turn on its treasury management strategy policy of avoiding minimum revenue repayments on its commercial investment properties, a move that will cost it...
Crisis-hit Slough Borough Council has asked central govenment for £270m of financing flexibilities to help address historic deficits and reduce debts next year.
The government should ban local authorities from borrowing unless they have sufficient plans to make regular repayments of debt and interest, according to the Public Accounts Committee.
Proposed amendments to the CIPFA Prudential Code seeking to strengthen restrictions on borrowing for commercial purposes have been dubbed 'relatively clear' by a senior civil servant.
External auditors for Warrington Borough Council are considering issuing a rare statutory recommendation in coming weeks over the way the authority has accounted for its investment properties.
