Alternative Investments for Local Authority Treasurers: January 17th, 2013

HRA lift isn’t magic fix for housebuilding, say councils: Local authorities say the decision to lift the cap on the Housing Revenue Account isn’t enough for them to deliver on the scale needed to end the housing crisis. According[...] dlvr.it/R8RdSj pic.twitter.com/rtUAidlcQz

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… dlvr.it/R8D1Hj pic.twitter.com/3GMmnwPjzx

Councils vow to fight £2.35bn business-rates court challenge: The Local Government Association (LGA) will support 45 councils defending a challenge to business rates levied on NHS hospital properties that could see £2.35bn clawed back and set a… dlvr.it/R8CQfr pic.twitter.com/9pKze2sToM

CIPFA backs alternative tool for measuring councils’ financial resilience: Another model aimed at measuring the financial sustainability of councils has joined a crowded field, with the claim that more than a third of councils are at risk of failure[...] dlvr.it/R84tX0

‘Core offer’ not enough to reduce county’s budget gap: A county council which last year decided to cut its service provision to a bare minimum says it will still run out of money without extra funding from central government.[...] dlvr.it/R84tSg pic.twitter.com/MLKbpy66vv

LGPS pool announces resignation of chief executive: The chief executive of LGPS pool Brunel Pension Partnership has quit her role, citing the need for a “different style of leadership”. In an announcement today, Brunel announced that Dawn[...] dlvr.it/R7t0yx pic.twitter.com/fzgE8YpEOm

The future for outsourcing after Barnet formula cracks: Barnet has signalled its outsourcing revolution is being reduced. But is this the return of council provision? Internal reviews are rarely news but the announcement by London Borough of Barnet[...] dlvr.it/R7pnv7 pic.twitter.com/TlXUcf71vQ

Councils reveal fears over funding for services: Almost a fifth of councils lack confidence that they will realise all of the savings identified in their 2019/20 budgets, according to a survey by the Local Government Association (LGA).[...] dlvr.it/R7j6Hh pic.twitter.com/q75AAtIv0q

The early bird registration is open for the 2nd Housing & Regeneration Finance Summit, Oct 31st, County Hall. #localgov #finance #regeneration #housing socialhousing.co.uk/regeneration-s…

Councils budget for rise in social service spending: Total revenue spending on services by all English local authorities is budgeted to rise 3.4% in 2019/20, with spending on children’s social care set to rise by more than 6%.[...] dlvr.it/R7gCVh pic.twitter.com/JJbDk5cV7M

LGPS faces cost uncertainty after Supreme Court upholds McCloud ruling: Local Government Pension Schemes (LGPSs) face ongoing uncertainty over compensation costs after the Supreme Court ruled last week that 2015 changes to the public sector pensions had… dlvr.it/R7cL1p pic.twitter.com/wZVsefPhaV

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… dlvr.it/R7cKyg

Services set to suffer as adult social care spending share drops: The proportion of council budgets spent on adult social care is set to drop this year for the first time since 2010 – with councils likely to cut services due[...] dlvr.it/R7NFXd pic.twitter.com/4EdBbio20R

Council predicts £5.5m budget overspend after a single month: A Midlands council is predicting a £5.5m overspend on its 2019/20 budget – just one month into the financial year. In a report to Peterborough City Council’s cabinet, Peter Carpenter,[...] dlvr.it/R7MhyX pic.twitter.com/PqP2DAlivM

Kingston looks to set up company to buy £68m of commercial property: The Royal Borough of Kingston upon Thames is planning to set up a property investment company to oversee a planned multi-million-pound investment drive aimed at supporting council… dlvr.it/R7Mhwq pic.twitter.com/0pa76tiHBV

The proposed changes to the LGPS: local valuation cycles and exits: The Ministry of Housing, Communities and Local Government (MHCLG) recently issued a consultation on proposals to amend the Local Government Pension Scheme (LGPS). Barry Mckay looks at… dlvr.it/R79GN2

Spelthorne’s property revenue set to overtake council tax income: Spelthorne Borough Council received net revenue of £7.5m from its property investments last year – with the figure set to overtake council tax receipts next year as its biggest income[...] dlvr.it/R6yrW2 pic.twitter.com/tR4HeRk0wO