Room151’s top stories from a momentous year
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2020 was the year in which local government grappled with Covid-19, funding strains, controversy over borrowing rules and the threat of financial collapse. It has been an exhausting and historic 12 months. We look back on our top stories.
1. Covid-19 places a strain on producing accounts
It’s the time of year when finance teams focus on their statement of accounts. Stephen Sheen argues that pushing back the deadline for audited accounts is not enough.
2. Spelthorne: Setting the record straight on commercial investments
Jennifer Medcraff sheds light on the council’s property portfolio.
3. Without ‘confidence’ in local government funding s114 notices remain a risk
Adrian Jenkins on Whitehall’s extra Covid funding for councils and asks whether it will be enough.
4. Section 114: Covid-19 has driven some councils to the brink but new guidance may help
CIPFA chief executive Rob Whiteman explains amendments to s114 guidance while Stephen Fitzgerald emphasises the need to support CFOs.
5. Local government reorganisation: The debate is intense but is the case for reform proven?
An expert panel considers the arguments for and against devolution.
6. PWLB consultation: A ‘sledgehammer’ to the foundations of borrowing
David Green argues fundamentals need resolving before the PWLB borrowing rules are rewritten.
7. Is your borrowing strategy a ‘no brainer’?
Jackie Shute considers how to balance long-term borrowing needs against risks facing treasury officers.
8. PWLB makes ‘seismic’ rate cut as Warrington opts for bond issue
As the chancellor delivered his spending review the local government borrowing terrain was rocked by a 100 bps cut in PWLB rates.
9. Interest rate swap ‘allows’ Plymouth to tackle risk
Plymouth’s finance director explains the reasoning behind a landmark decision.
10. Interview: Public sector deposit fund reaches £1bn as councils look for liquid safe havens
CCLA’s Stuart Freeman and Rob Evans reflect on the Public Sector Deposit Fund reaching a major milestone in 2020.
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