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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
Ministry repeats business rates blunder despite tightened oversight: The government has been left red-faced – and potentially £15m out of pocket – by repeating an error which last year cost it £36m and prompted major reforms to its[...] dlvr.it/R5xxJm pic.twitter.com/8r7WUUzV6J
London council set to pursue 50/50 development joint venture: A London council was this week set to approve the creation of a joint venture to develop three major sites in the borough. London Borough of Harrow’s cabinet, due to[...] dlvr.it/R5jXcg pic.twitter.com/9xEwA4hTyS
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… dlvr.it/R5jXcB pic.twitter.com/g7Yqe1XmPJ
Insourcing ‘increases scope for councils to make service savings’: Insourcing can allow councils to transfer resources between service areas more easily in response to austerity, according to the Association for Public Service Excellence. A report… dlvr.it/R5jXXc pic.twitter.com/9JcCpo8UE1
IFS: National debate needed to end ‘muddling along’ approach to council funding: The government will likely need to remove some service responsibilities from councils if it wants to end grant funding without granting new tax-raising powers, according to… dlvr.it/R5c5tR
Council looks to buy town centre after regeneration stalls: A Merseyside council is in discussions with a developer to buy a town centre, in a move designed to kick start redevelopment. Knowsley Council this week announced that it has[...] dlvr.it/R5ZvLv pic.twitter.com/23u2OBHTNL
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