The successful delivery of savings and tight spending controls have helped Peterborough City Council make significant progress towards long term financial stability, an independent panel has said.
An English council is set to terminate a property management joint venture after an independent review found the business offered “limited value” to the authority.
A senior consultant at CIPFA is set to take over as interim section 151 officer at Peterborough City Council, as the authority seeks financial stability.
An improved financial outlook means Peterborough City Council is unlikely to need to use capital financing flexibilities which it previously requested from central government, it has emerged.
The working balance of general fund reserves at cash-strapped Peterborough City Council is inadequate to deal with the financial risks the authority faces, according to its finance team.
The government should not provide additional financial flexibilites to Peterborough City Council unless it offloads at least £43.5m of property, according to a review by CIPFA.
A council is to use £10.5m of reserves earmarked for tackling Covid-19 to slash the amount of capital borrowing needed to fund services under special arrangements approved earlier this year by...
Eight struggling local authorities will be subject to financial healthchecks by CIPFA as they await approval on £72.5m of government support, ministers have announced.
Peterborough City Council’s external auditors have raised serious concerns about the financial situation of the authority, which has become reliant on additional government support.
A council granted a capitalisation direction in March has warned it could be forced to deplete its usable reserves down to “unsustainable levels” to help meet an £11m funding gap.
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...
