Wirral Council has approved a financial recovery plan which includes suspending a planned £5m investment to create a community bank, following a critical government-commissioned review.
The London Borough of Croydon still needs to close a predicted £13m budget gap next year, despite hoping to receive £25m of financing flexibilities alongside proposed additional savings.
Nottingham City Council’s internal audit department has criticised the authority’s procurement processes, after financial regulations were waived on more than 20 occasions.
Mayors and council leaders in the Northern England are seeking discussions with the government to revive plans for a high-speed rail link to Leeds through a mechanism to capture rises in land values.
Liverpool City Council has capacity challenges in many of its corporate services including finance, puttng improvement plans at risk, according to government-appointed commissioners.
An operator which runs Luton Airport is set to retain £45m of passenger income that was originally due to be paid to a subsidiary company of Luton Borough Council.
Suffolk County Council has used Public Works Loan Board borrowing to repay £30m of ‘lender option, borrower option’ loans, but expects to deliver real terms savings of £6.4m.
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.
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.
Proposed updates to the CIPFA Prudential Code aimed at restricting borrowing primarily for yield purposes, could lead to ‘unintended consequences’, according to the Local Government Association.
Councils' level of business rates income held in reserve to cover future appeals rose by almost a third last year – representing an increase of almost £1bn.
As interest rates expectations change we observe a wider spread of pricing in the “LA to LA” market. Does this represent an opportunity for borrowers and investors?
The Local Government Pension Scheme Advisory Board has updated its investment code to require cost breakdowns from third-party fund managers, in an attempt to improve transparency.
Redcar and Cleveland Borough Council claims it was misled by the government on the amount of support it was due after it was hit by cyber attack last year.
CIPFA is again consulting on changes to the Prudential and Treasury Management Codes with the expectation that revised guidance will be in place by December 2021.
An improving financial position for Wirral Council has led to the authority reducing the level of expected government support this year by £3.5m, according to its finance chief.
Nottingham City Council has proposed more than £12.2m of new savings, to help manage a widening budget deficit next year, including closing multiple children’s centres.
