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Room 151

  • 151 BRIEF

    What's New?

  • DCN calls for delay to 75% business rates retention

    February 22, 2019

  • Spending on children seeking asylum doubles

    February 22, 2019

  • Trafford predicts £278m debt increase

    February 21, 2019

  • Select committee calls for change to business rates

    February 21, 2019

  • Local government finance system “not sustainable”

    February 20, 2019

  • County looks to raise cash from farm sales

    February 20, 2019

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  • 151 News
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Stephen Sheen

  • 0
    • in Blogs · Stephen Sheen · Technical · Treasury
    • — 5 Dec, 2018

    Sale-and-leaseback: the accounting lowdown

    Central government last week decided to allow Northamptonshire County Council to use capital receipts from the sale of its headquarters to balance its revenue budget. Stephen Sheen investigates the accounting[…]

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    0
    • in Blogs · Stephen Sheen · Technical
    • — 17 Sep, 2018

    Looking ahead: challenges for the 2018/19 statement of accounts

    Stephen Sheen looks at how a suite of new accounting standards will impact preparations for next year’s statements of accounts. As the ink dries on the 2017/18 statement of accounts,[…]

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  • 0
    • in Blogs · Stephen Sheen · Technical
    • — 13 Jun, 2018

    Stephen Sheen: Prepare for a deep dive into lease accounting

    After a decade of deliberation the IFRS 16 lease accounting standard is set to hit local authorities. Stephen Sheen writes the change means a substantial piece of work for finance[…]

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    IFRS 9, protest 0
    • in Stephen Sheen · Technical
    • — 24 Apr, 2018

    Stephen Sheen: Do we need a statutory override for IFRS 9?

    The accounting standard IFRS 9 has prompted much debate. Last week, Peter Worth argued against a statutory override. This week Stephen Sheen makes the case for it. In a previous[…]

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  • 0
    • in Blogs · Stephen Sheen · Technical · Treasury
    • — 28 Mar, 2018

    Stephen Sheen: IFRS 9 and ‘impairment’ are no April Fool

    For those with a sense of humour IFRS 9 is sadly no practical joke. It’s time to prepare for impairment losses… and a game of Jumanji. While we wait expectantly[…]

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    0
    • in Blogs · Stephen Sheen · Technical
    • — 31 Jan, 2018

    Stephen Sheen: Closedown 2017-18 leaves little time to relax

    I was planning to write an article about the prognosis for the 2017/18 accounts closedown and accompanying audit issues. However, the sad demise of Mark E. Smith caused me to[…]

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  • 0
    • in Blogs · Stephen Sheen · Technical
    • — 4 Dec, 2017

    Stephen Sheen: Prudential Framework and the budgetary implications of MRP guidance

    The government has issued a single consultation paper on the Prudential Framework, proposing changes to two key documents: the statutory guidance provisions for local authority investments and for minimum revenue[…]

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    0
    • in Blogs · Stephen Sheen
    • — 30 Oct, 2017

    Stephen Sheen: ‘The most complicated accounting standard ever issued’

    IFRS 9: “If you meet someone who claims grandly to have read it all and understood it, this is not the sort of person to trust with either your fidget[…]

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  • 0
    • in Blogs · Stephen Sheen · Technical
    • — 13 Sep, 2017

    Stephen Sheen: Troubles with the auditor? Maybe it’s not you.

    Auditors issue threats of qualification based on dogmatic demands but often their objections can be managed with a little push-back. Since I stopped being an external auditor five years ago,[…]

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    0
    • in Blogs · Stephen Sheen · Technical
    • — 14 Mar, 2017

    Stephen Sheen: The auditor’s dreaded knock on the door

    Auditors might appear to be upping their action against struggling local authorities, but Stephen Sheen argues there’s little incentive to do anything beyond writing to suggest a council puts its financial[…]

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    DCN calls for delay to 75% business rates retention room151.co.uk/brief/#dcn-cal… #localgov

    Room 151 2 days ago

    Ashford to build and run solar farm to raise revenue: Ashford Borough Council will borrow £6m from the Public Works Loan Board to build a solar farm it says will produce a return of 6.7% a year to fund services.[...] dlvr.it/QzNZmS pic.twitter.com/khvp447NDe

    Room 151 2 days ago

    Croydon’s Brick by Brick to borrow more council money: London Borough of Croydon’s standalone housing company has pushed back the date by which it will become self-financing after announcing plans to borrow more cash to develop new sites. In[...] dlvr.it/QzKB8b pic.twitter.com/5E1RZyiIyv

    Room 151 3 days ago

    Councils to receive full compensation for waste overhaul requirements room151.co.uk/brief/#council… # localgov

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    High street woes cause revenue dip at council-owned retail park room151.co.uk/brief/#high-st… #localgov #Bournmouth

    Room 151 3 days ago

    County looks to raise cash from farm sales room151.co.uk/brief/#county-… #localgov @StaffordshireCC

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    Warrington outlines robust defence of out-of-borough investments: Warrington Borough Council has outlined its reasons for departing from government investment guidance and continuing to borrow to invest in revenue-generating property outside its… dlvr.it/QzJWtt pic.twitter.com/vxCqb5xnKT

    Room 151 3 days ago

    Managing ill-health risk in the LGPS: Barry McKay provides a health-check on how Local Government Pension Scheme funds can mitigate risks from ill-health retirements. Most LGPS benefits build up gradually during each member’s employment.  However, if[...] dlvr.it/QzJWqk pic.twitter.com/HyRrtUu8dw

    Room 151 4 days ago

    Business rates retention reform lacks rigour says IFS: The Institute for Fiscal Studies (IFS) says that the government’s proposals for reform of business rates retention need further work. The Ministry of Housing, Communities and Local Government (MHCLG)… dlvr.it/QzDVm8 pic.twitter.com/QKNrDyZP74

    Room 151 4 days ago

    Ashfield raises property stake to £104m room151.co.uk/brief/#ashfiel… #localgov

    Room 151 4 days ago

    Barking and Dagenham to double external borrowing room151.co.uk/brief/#barking… #localgov

    Room 151 5 days ago

    A busy and unpromising timetable for local authority finances: Richard Harbord looks at the large amount of central government measures affecting councils due over the next 13 months. Time is running out, the current uncertainty damaging, and the… dlvr.it/Qz81pV pic.twitter.com/FvQbpvz2dn

    Room 151 5 days ago

    Getting to grips with governance: Poor governance can make the difference between local authorities coping and not coping. Aileen Murphy explores what national government should be doing to help section 151 officers carry out their[...] dlvr.it/Qz81kf pic.twitter.com/2tywD1wu7H

    Room 151 1 week ago

    Sutton announces new chief executive room151.co.uk/brief/#sutton-… #localgov @SuttonCouncil

    Room 151 1 week ago

    Spelthorne halts commercial property investment: Spelthorne Borough Council has called time on its controversial programme of borrowing from the Public Works Loan Board (PWLB) to fund commercial property investment. Over the past three years, the[...] dlvr.it/Qyvbrt pic.twitter.com/yECeMm6uUP

    Room 151 1 week ago

    LGPS board considers guidance to avoid conflicts of interest: The LGPS Advisory Board is consulting on whether new rules are needed to avoid conflicts of interest in the governance of the scheme. It has appointed pension adviser Hymans Robertson[...] dlvr.it/Qyvbk7 pic.twitter.com/hLtp4ekKuH

    Room 151 1 week ago

    Eighty percent of councils lack faith in sustainability of local authority finances room151.co.uk/brief/#eighty-… #localgov

    Room 151 1 week ago

    MP criticises county over incinerator project room151.co.uk/brief/#mp-crit… #localgov

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