The London Borough of Croydon has withdrawn its section 114 notice, following the government’s decision to grant support allowing the authority to balance its 2020-21 budget.
Northampton Borough Council has demanded that the wife of former Northampton Town FC co-chairman David Cardoza repays £418,000 to the council or sell her property.
The Bureau of Investigative Journalism has won the first half of its battle to force Thurrock Council to disclose details of more than £700m of loans from other councils and the investments they went...
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.
Budget measures imply the government will have borrowed an ‘unprecedented’ £570bn over this financial year and next, according to the Office for Budget Responsibility.
Leeds City Council has approved its budget for 2021-22, which will usher in £87.5m worth of budget reductions alongside redundancies and a 4.99% rise in council tax.
Torbay Council has become the latest authority to shelve its planned commercial investment following PWLB rules changes – scrapping £68m of its planned programme.
The value of two retail investment properties purchased by North Somerset Council has dropped by more than £26m in the three years since they were purchased due to Covid-19.
Woking Borough Council will borrow an additional £130m to cover increased costs resulting from Covid-19 and Brexit on a flagship mixed-use regeneration project.
Leicestershire County Council says it could raise £18m of revenue each year to fund services after agreeing an £89m expansion of its commercial property portfolio.
West Berkshire Council is to shelve the uncompleted third of its £100m commercial investment plan following the introduction of new restrictions on borrowing from the Public Works Loan Board.
The number of loans taken from the Public Works Loan Board fell in January, with one treasury adviser saying Covid-19 payments from government could have weakened borrowing demand.
CIPFA is consulting on proposed strengthening training for treasury management staff, following the introduction of legislation allowing public bodies to use more complex financial tools.
Richard Lloyd-Bithell, senior technical manager at CIPFA, runs through the new proposals for the Prudential Code in response to increased local authority investment in commercial property.
At the end of 2021, LIBOR, the most popular sterling benchmark rate, will be phased out. What do public sector treasurers need to know about the transition to its recommended replacement, SONIA?
Local authorities borrowed £252m from the Public Works Loan Board in December, the highest sum borrowed since April, following November’s one percentage point drop in borrowing rate.
Cat Little had a baptism of fire after joining the Treasury in March 2020. From PPE purchasing to November’s Spending Review, controls have remained tight, she says.
The recent restrictions imposed on borrowing from the Public Works Loan Board will make budget management in the medium term more challenging, ratings agency Moody’s has said.