A huge drop in the value of Spelthorne Borough Council’s commercial investments has been revealed in its draft statement of accounts for 2022-23, but the income they generate is “holding up well”.
The council’s additional minimum revenue provision this year – after being under-calculated for more than a decade – is nearly six times its core funding.
MPs heard that local audit needs a fresh start to clear the backlog and return to timely account sign-off, but were warned that such a move would be risky.
The huge backlog of unaudited local government accounts has ramifications across government, including for entire departments and the NHS, the head of the NAO has warned.
Administrators have begun selling the assets of a solar investment company to which Thurrock Council lent more than £650m, in order to repay the company’s debts.
Selling a professional services company has given Merton Council an injection of £185.6m, and the authority plans to use the proceeds to make “sound investments” and generate income, as well as pay...
Proposals to fix discriminatory Local Government Pension Scheme reforms are the right move but look set to cause administrative headaches for administrators, an expert has said.
Insufficient data means the government has no understanding of what departments and combined authorities are spending on levelling up, MPs have warned.
CIPFA has warned that some councils are worried about serious consequences arising if they publish their unaudited financial statements by the end of the month, in light of the “significant...
Nobody has a better idea of what the UK’s town and city centres need than the people who live, experts have told the All Party Parliamentary Group on Devolution.
