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The National Audit Office is investigating the growing trend of councils borrowing from the Public Works Loan Board to fund property investment, it has emerged. The probe was revealed by[…]
Northamptonshire County Council has turned a projected overspend of more than £30m for 2018/19 into a budget surplus of £1m in a turnaround described by the authority’s executive financial director[…]
Extinction Rebellion protesters this week derailed a speech by local government minister Rishi Sunak to demand he gives council pension funds greater powers to disinvest from fossil fuel companies. Evading[…]
Eastleigh Borough Council has repaid £300m of short-term borrowing from other local authorities, using Public Works Loan Board cash. The council has repaid the cash, which makes up around three[…]
The National Audit Office has reported a significant improvement in the financial transparency of England’s Local Enterprise Partnerships (LEPs) after section 151 officers were given extra responsibility for ensuring that[…]
Barclays has denied fraudulently entering a number of Lender Option Borrower Option (LOBO) loans with councils, in court documents seen by Room151. In February, a group of seven councils lodged[…]
Now that local authorities are in the middle of preparing their first financial statements under the new IFRS 9 Financial Instruments accounting standard, here’s a reminder of what might need[…]
Investment manager CCLA has announced the successor to current chief executive Michael Quicke, who is to step down from July. CCLA, which currently manages £1.8bn of local authority cash across[…]
Warrington Borough Council has approved £80m of loans to provide borrowing facilities to two housing associations for house-building in the area. The council’s executive board this week agreed a five-year[…]
Audit firms should be banned from carrying out consultancy services, according to a report of MPs. The Business, Energy and Industrial Strategy Committee this week released a report into the[…]
