Three wise men?

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

‘Clarity needed’ on LGPS pool arrangements under surprise competition rules: Local Government Pension Scheme (LGPS) funds have unexpectedly been included in new Competition and Markets Authority (CMA) requirements covering relationships with external… dlvr.it/R6yGN2 pic.twitter.com/WZK1FwUQRg

Council commercial property investment rises again: Government data released last week indicates commercial property investment by local authorities rose again last year, though it is unclear on whether the annual rate of increase is slowing. The[...] dlvr.it/R6yGK4 pic.twitter.com/LXimDgEZhk

Leeds strikes deal with government over rising PFI schools costs: The Department for Education has agreed a deal with Leeds City Council aimed at protecting other education services from increasing costs on its Private Finance Initiative (PFI) schools… dlvr.it/R6vN0d pic.twitter.com/GBI1h62b5T

Spending Review uncertainty leaves fair funding reforms in balance: The emerging fair funding regime for local government finance could be delayed if the Treasury is unable to produce a multi-year Spending Review this year, according to local government… dlvr.it/R6tlxw pic.twitter.com/IT1wMKgRiA

Low PWLB rates prompt borrowing surge: An 11% jump in borrowing by councils from the Public Works Loan Board (PWLB) during 2018/19 might have been fuelled by fears over a rise in interest rates, according to[...] dlvr.it/R6tlsd pic.twitter.com/gisaNOQj9J

Central reservations: Why Brexit paralysis in Whitehall is ruining councils’ financial planning: Over recent decades, increasing bureaucracy and centralisation have left councils almost completely financially reliant on central government. The current… dlvr.it/R6mxM8 pic.twitter.com/hCidWfNb6C

Councils budget for 21% increase in spending on housing - Housing will this year displace highways and transport as the largest area of council capital spending – following the lifting of the housing revenue account borrowing cap. room151.co.uk/treasury/counc… pic.twitter.com/8Jj8nMP0pT

Croydon looks for big returns on bricks and mortar: Croydon Council this week agreed to sell another 61 development sites to its wholly-owned housing company – Room151 explores the sums. dlvr.it/R6XZ81 pic.twitter.com/C8m9DgONJg

Council beats Brexit deadline to approve multi-million investment fund: Cabinet members at Norfolk County Council have approved the creation of an investment fund in a move timed to allow access to European Union money before the UK completes Brexit.[...] dlvr.it/R6XZ69 pic.twitter.com/6p7b6vLguI

Portsmouth eyes borrowing boost to buy office development: Portsmouth City Council is set to tweak its treasury management rules to borrow an additional £70m towards the purchase of the city’s main office park. However the figure is only[...] dlvr.it/R6XZ1W pic.twitter.com/cEN18CJPZp

London LGPS pool appoints new chief investment officer: LGPS pool London Collective Investment Vehicle (LCIV) has appointed Mark Thompson as its new chief investment officer (CIO). Thompson joins from HSBC Bank’s UK pension scheme, where he has been[...] dlvr.it/R6PFCT pic.twitter.com/WH6rRFuxmP

100 up for LATIF 2019 as Brexit strategy and resilience top the agendas: More than 100 council finance officers have already signed up for Room151’s annual conference – set to be held just weeks before the UK’s departure from the European Union. The[...] dlvr.it/R67nBK pic.twitter.com/WCPehYsCO1

Final outturns: revenue reserve levels rise amid budget underspends: Total useable revenue reserves (URRs) in upper tier authorities increased by 6% last year, according to early analysis of final outturn reports. Data analysis firm Pixel Financial… dlvr.it/R67Ddc pic.twitter.com/ahfmP6SDue

County turns £12.1m projected overspend into £5.9m underspend: A South West council has reported a dramatic turnaround in its 2018/19 finances after a series of in-year measures turned a projected overspend of £12.1m for the last financial year[...] dlvr.it/R67DWX pic.twitter.com/kc23MqyhSh

Councils slam ‘misleading’ BBC reserves danger list: A number of councils have complained after the BBC last week named them as at risk of running out of reserves. In December, the Chartered Institute of Public Finance and[...] dlvr.it/R61Sqx pic.twitter.com/euTkj5hnD7

Kent ‘unsure’ if £263m withdrawal decision prompted Woodford fund trading suspension: A major equity fund suspended trading on Monday after Kent Pension Fund decided to withdraw its £263m investment. Kent’s superannuation fund committee voted on Friday… dlvr.it/R60sq5 pic.twitter.com/Xl2xqu8xVM