Warrington warned over MRP approach ‘risk’
Warrington Borough Council has been warned that its approach to calculating its minimum revenue provision (MRP) could present a threat to delivery of its medium term financial plan (MTFP). The[…]
Technical
Redditch issued with section 24 notice and told to save £1.5m
Auditors have issued an adverse audit report for Redditch Borough Council, telling the council it needs to save £1.5m over the next three years and is at risk of breaching[…]
LGA says audit delays prove it was right over 2014 accounts deadline warning
Delays to the publication of 16 councils’ accounts due to auditor staff shortages has borne out warnings the Local Government Association (LGA) made to the government in 2014 about curtailing[…]
CIPFA reviews transparency of local government accounts
The Chartered Institute of Public Finance and Accountancy is seeking to identify the barriers to the public accessing and understanding local authority accounts. The body has launched a consultation in[…]
Audit review raises prospect of new transparency rules for s151s
A review of local government audit announced by the government this week will consider new measures to give the public better access to financial information produced by section 151 officers.[…]
Commercial activity given greater prominence in draft CIPFA code
CIPFA has amended its draft Financial Management Code for local authorities to give commercial activity greater prominence. The body has amended the proposals to recognise the importance of commercial activity[…]
Moody’s upgrades Lancashire’s outlook due to easing of pressure on reserves
Credit rating agency Moody’s has upgraded Lancashire County Council’s financial outlook from “negative” to “stable”, citing the authority’s progress in reducing its four-year cumulative savings target by two-thirds. While the[…]
Liverpool to reopen housing revenue account
Liverpool City Council is set to reopen its housing revenue account to build new council homes – 11 years after it transferred its remaining stock to a registered provider. In[…]
Graeme Muir: exciting times for actuaries predicted
Pensions are supposed to be boring – public sector pensions even more so. Actuaries are only supposed to get excited very occasionally and when they do, it’s often hard to[…]
Stephen Sheen: Public interest in Prudential Framework has provided a worrying wobble
When the Prudential Code was being developed, there was no expectation that it was going to be a document that was going to change the world. Its function was largely[…]
