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LGPS “still overweight” in equities despite record yearly reduction: Local Government Pension Scheme investments in equities dropped by 3.2% in 2017/18 as overall assets rose by 5% compared to the previous year to £275bn, according to the Scheme… dlvr.it/R4qZnn pic.twitter.com/FMDBBTZ5Yl
CIPFA chief calls for ministers to lose Fair Funding Review role: Future versions of the Fair Funding Review should be carried out by an independent body, according to Rob Whiteman, chief executive of the Chartered Institute for Public Finance and… dlvr.it/R4pyMZ pic.twitter.com/5zyskKdxfV
Spending watchdog probes council borrowing for property investment: The National Audit Office is investigating the growing trend of councils borrowing from the Public Works Loan Board to fund property investment, it has been revealed. The probe was… dlvr.it/R4lpKX pic.twitter.com/IQE8pEljHX
Troubled Northamptonshire makes ‘unprecedented’ in-year turnaround: 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… dlvr.it/R4l99p pic.twitter.com/4Xuf88q3FO
Extinction Rebellion protestors halt Sunak speech to call for LGPS fossil fuel divestment: Extinction Rebellion protesters yesterday derailed a speech by local government minister Rishi Sunak to demand he gives council pension funds greater powers to… dlvr.it/R4l94C pic.twitter.com/VCTqocjS1P
We got a nice thing through the mail! room151.co.uk/brief/#the-ind… #localgov #treasurer #independence @CIPFA @RobWhiteman Enjoy, and thanks to David Jones for getting in touch.
Spending Review set to outline ‘transition’ towards national tax devolution: The forthcoming Spending Review is set to pave the way for the devolution of some national taxes to local government, according to chief secretary to the Treasury, Liz Truss.… dlvr.it/R4N4ds pic.twitter.com/Ym1pM3cMY9
Low reserves aggravate Hertfordshire £90m funding gap: Hertfordshire County Council is facing a funding gap set to grow to £90m in four years’ time, with plans in place expected to account for half of the shortfall, according[...] dlvr.it/R4MVT1 pic.twitter.com/2NH5tjVr7W
Boosted s151 officer role ‘significantly improves’ LEP transparency: 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… dlvr.it/R4MVMY
Barclays’ court submission denies councils’ LOBO fraud claim: 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… dlvr.it/R4HltN pic.twitter.com/xBVU3ek7fB
Hackney to tackle fuel poverty with clean energy company: Hackney Council has earmarked £150,000 as start-up costs for a council-run energy company to tackle the fuel poverty of almost 10,000 households in the borough. The council’s cabinet this week[...] dlvr.it/R3xKbq pic.twitter.com/AABSc8rFuo
Super night courtesy of @CIPFA at The #pfawards19 last night. Thanks to the organisers and congratulations to all the winners! room151.co.uk/151-news/cipfa… #localgov
CIPFA stars shine at awards: The brightest and best in public finance have been recognised at a top awards ceremony. The annual Public Finance Awards saw Bromley Council take the top spot for its work[...] dlvr.it/R3v0HL
London borough to push ahead with income-boosting education services joint venture: A north-east London borough is progressing plans to set up a new education-services company, in a bid to cut costs at the same time as maintaining the quality of its[...] dlvr.it/R3skYJ pic.twitter.com/x9X7gVX9Ry
Crowdfunding could pay for public services, researchers claim: Local authorities could use crowdfunding as an alternative to traditional borrowing, researchers have claimed. A government-backed study by the University of Leeds concluded that online… dlvr.it/R3skXN pic.twitter.com/Wf0OUB5ZTM
Spending review holding back planning reforms: Reforms to the fees charged to house builders are being held up by the delayed spending review. MPs on the Public Accounts committee were told that changes aimed at enabling[...] dlvr.it/R3pFND
Mutual launches to compete in insurance market: A group of councils has joined the Local Government Association (LGA) in launching a new mutual aimed at offering a better deal for councils on insurance. The mutual will see[...] dlvr.it/R3pFM4
IFRS 9 checklist: 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[...] dlvr.it/R3n3K7
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