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Council reserves increasingNon-ringfenced revenue reserves held by councils rose by 8.7% to reach a total of £23.7bn during 2018/19 last year, according to official figures.
The Ministry of Housing, Communities and Local Government this week published provisional outturn figures showing the figure at its highest level since the beginning of austerity in 2010.
But there is disagreement in the sector as to whether the rise demonstrates that councils are in a healthier financial state than they are pleading.
Commenting on the figures, former Boston Borough Council chief executive Richard Harbord said: “We have to be cautious about these figures. As local authorities get more desperate, they are making provisions for costs they k
...A number of LGPS pools’ equity strategies are inconsistent with the aggressive outperformance targets they have set, according to an influential report into the sector.
The Chartered Institute of Public Finance and Accountancy (CIPFA) has urged councils to ensure that they have the right procedures in place to protect against sophisticated financial crime.
The system of business rates retention cannot survive in the long-term without significant reform and the consideration of alternatives due to changes in the economy, according to a report by MPs.
Three councils and the Greater London Authority have each been awarded funding ranging from £80m to £318m to deliver infrastructure projects in support of new homes. Chancellor Sajid Javid said[…]
Northamptonshire County Council faces a fresh financial crisis after a £34.9m budget gap for 2020/21 opened up. A review of the council’s medium term financial plan (MTFP) published this week[…]
Councils have warned they need certainty about funding reforms and revenue, following the chancellor’s decision to hold a one-year funding review. Local authorities called for funding to ease cost pressures[…]
Auditors scrutinising local authority accounts and the body responsible for appointing them have come under fire after new figures showed 40% of audit opinions missed the target date of 31[…]
Auditors have issued a qualified adverse opinion on Reading Borough Council’s 2016/17 accounts – almost two years late due to a litany of problems. In a stinging assessment, audit firm[…]
The government’s decision to push ahead with a one-year spending review has prompted alarm from local government experts that it could force a delay in the implementation of the Fair[…]
