Nottingham City Council members have been warned that the use of reserves to balance its budget this year “is not recommended”, after a forecast £11m gap emerged.
Nottingham City Council’s scrutiny of wholly-owned companies remains “superficial and inadequate” a year after its auditors raised similar concerns, according to an independent report.
A “prevalent, negative culture” at Nottingham City Council in which officers regularly fail to comply with processes and rules has drawn criticism from its internal auditors.
Nottingham City Council has accepted the terms of a capitalisation direction allowing it use £35m to spread deficits from its now defunct energy company and implement planned transformation projects.
A capitalisation direction to be considered by Nottingham City Council on Friday will be used to spread losses from its failed energy company which left a £38m hole in council finances.
Local government secretary Robert Jenrick is to appoint an expert panel to help address “appalling” financial management issues at Nottingham City Council, following a government rapid review.
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.
Nottingham City Council’s strategic director of finance raised concerns over the quality of information provided by a standalone energy company which has made £34.4m of losses, according to auditors.
Tramlink, a Private Finance Initiative which runs Nottingham City Council’s tram network is losing £404,000 a week as a result of Covid-19, the authority has revealed.