Liverpool City Council has identified a potential £57m budget gap for 2020/21.
In an update to its medium term financial strategy, the authority said that the figure is a result of budget pressures and budget decisions still to be delivered.
It said that £19m of the gap is due to budget savings yet to be delivered, and a projected overspend of £7m in children’s services.
Councils overfunded last year but ‘chronic’ financial pressures remain: Adrian Jenkins agrees local government failed to spend all its Covid grants. But ongoing pandemic expenses mean the money will be used and funding pressures will continue. Local… dlvr.it/SHSvMt pic.twitter.com/fFFlzsDyGP
We're delighted to be launching another new course with Ian Fifield aimed at heads of service who want to get to grips with council finance. lnkd.in/dYxNT7WR Register here to book your place: lnkd.in/dmgiN-qg pic.twitter.com/dqEHeBQ6HU
Managing performance in a choppy UK money market: Partner Content: CCLA Investment Management’s Robert Evans discusses an eventful few months for the Bank of England and monetary policy. The Bank of England (BoE) rarely springs a surprise. In[...] dlvr.it/SHLHqY pic.twitter.com/tpZVNJWZ62
Prudential Code brings ‘clarity’ to investment strategies: New guidance from CIPFA has been hotly debated. Scott Dorling offers a lawyer’s guide through the new Prudential Code. The revised CIPFA Prudential Code for Capital Finance in Local… dlvr.it/SH6jp0 pic.twitter.com/Qlp2LvuVtM
Treasury looks forward to old issues with new challenges: David Green scans to the treasury landscape for the coming year and finds codes of practice, levelling up, new accounting standards and interest rate rises looming. Happy New Year to[...] dlvr.it/SGwmGY
What’s in store for the LGPS in 2022?: William Bourne channels his inner Mystic Meg to offer some predictions for the LGPS in 2022. He highlights the risk of policy errors, rising contributions, new investment regulations and more[...] dlvr.it/SGjFSq pic.twitter.com/8U2r2LVPdE
New Year, new faces at Room151: The Room151 team is expanding with senior appointments in both editorial and conference production, plus a new office in Central London. Room151 is delighted to announce the appointment of Mike[...] dlvr.it/SGbCry pic.twitter.com/zOOvQtQSqk
Richard Harbord: a lack of New Year resolution: Uncertainty remains across the public sector, and is unlikely to be resolved any time soon. Those responsible for local government finance can expect another frustrating and testing year ahead. New[...] dlvr.it/SGZhPc pic.twitter.com/HGAp0zm0ZF
Michael Gove signals the end of ‘boring rollover’ settlements: Local government got a one-year funding deal. But, writes Adrian Jenkins, the new minister in charge also looks set to overhaul the entire funding process. Local government funding has… dlvr.it/SFrs3f pic.twitter.com/5MtVzOS9Kx
Settlement 2022-2023: £53.9bn in ‘one-year’ deal aimed at ‘stability’: The 2022-23 settlement promises an extra £3.5bn. Michael Gove said the settlement represents a “real-terms increase from last year’s settlement and will make sure councils can improve… dlvr.it/SFrs2c pic.twitter.com/IoOoAfgqOP
Settlement 2022-2023: £53.9bn in ‘one-year’ deal aimed at ‘stability’: The 2022-23 settlement promises an extra £3.5bn on the previous year. Michael Gove said the settlement respresents a “real-terms increas from last year’s settlement and will make sure… dlvr.it/SFYlyw pic.twitter.com/T9OW9zP4Cq
Reasons to be cheerful in a time of major change for local government finance: The message that local authority finance teams need bolstering seems to be winning a hearing, writes Alison Ring, while reform of local authority financial reporting and audit… dlvr.it/SFT61L pic.twitter.com/Cav17QsTw1
12 days of Christmas messages from the section 151 officer: “On the 1st Day of Christmas my true love (section 151 officers) said to me (chief executives) – “I’ve got a list of 12 things for you to do!” The[...] dlvr.it/SFT5zw pic.twitter.com/iSqMZbguLA
A year in the life of an s151: ‘We delivered unbelievable things’: Tracie Langley, Cornwall’s s151 officer, looks back at another year dominated by the pandemic, budgets, elections and “you-would-just-never-believe-it” stories. I can’t say I bounced out… dlvr.it/SFT5zL pic.twitter.com/5yVT8O7rR4
Making a clean, green future a reality: Sponsored article: William MacLeod explores the ‘net zero’ investment opportunities in renewable energy and the built environment. If COP26 emphasised anything, it was that the challenge to meet net zero[...] dlvr.it/SFS5R4 pic.twitter.com/YlkHudRpBS
The outlook for equity markets: The Bull and Bear Case: With equity markets on a knife-edge heading into 2022, we tasked Border to Coast’s Ryan Boothroyd and Anthony Petalas, to set out plausible bull and bear cases over the next[...] dlvr.it/SFRcZG pic.twitter.com/ejs5dOtGNl
LGPS: Top stories 2021: It’s been quite a year in LGPS. The scheme has been confronting climate, government’s desire for an investment “Big Bang”, cryptocurrencies, aiding placemaking and supporting the creation of national infrastructure.[...] dlvr.it/SFR3bW pic.twitter.com/KsqG1US5FA
