Commercial investment
Statutory recommendation threat dropped
Warrington Council has escaped the threat of a statutory recommendation being issued by its external auditor Grant Thornton.
LGA members accuse CIPFA of 'mission overreach'
Proposed changes to finance rules have provoked anger from the Local Government Association (LGA).
Ofgem threatens to revoke licence from Together Energy
The energy watchdog has threatened to withdraw the supplier’s licence from Together Energy, part-owned by Warrington BC.
Council firm loses millions of pounds
A property development firm established by Cambridgeshire CC to provide a new revenue stream lost £3.4m last year.
Council to close ethical debt collection firm
Hammersmith and Fulham LBC is to close its ethical debt collection company after failing to garner sector interest in the concept.
CIPFA raises concerns over council company
Sutton LBC has been told it will have to invest more money into a troubled low-carbon energy project.
Council energy firms lose £100m
Council-owned energy firms have lost £114m over four years, according to new analysis.
Plugging the net zero funding gap
The UK Climate Change Investment Commission is developing a radical place-based offer to private finance, says Alison Griffin - and it estimates in the core cities and London boroughs alone there is potential for up to £500m worth of investment.
Time to pull the belts in and batten down the hatches – again
Tracie Langley says her task of signing off that a budget is robust has to be based on a significant confidence that savings are deliverable, which is becoming tougher when costs are increasing 'without any relationship to the consumer price index'.
Call for council to pull out of loss-making bank
A bank part-owned by Warrington Council has made a loss, according to its latest accounts.
Warrington rebuffs call to end energy investment
Opposition members at Warrington Council have urged the authority to end its investment in a green energy company as the sector is engulfed in crisis.
Council to review development company
Cambridgeshire CC has brought in external consultants to look into its development company.
The importance of being prudent on investment
Richard Lloyd-Bithell explains why CIPFA's new Treasury Management and Prudential Codes 'continue to uphold a key principle of the prudential agenda: that borrowing primarily for return investment is not permissible'.
Mind the Gap
Geoff Tucker at Norse explains how partnership income is easing councils’ funding gap.
Croydon returns to drawing board on regeneration plans
The council maintains delayed plans to develop a Westfield shopping centre are going ahead, despite planning permission for the development having expired.
Council grants oversight ‘not fit for purpose’
The governance of grants worth millions to registered housing providers by Bristol City Council has been heavily criticised by internal auditors.
It’s only a win if everyone succeeds
For SIGOMA members – unitary and metropolitan councils across England – funding service fairly is the key, says Sir Stephen Houghton.
Councils will continue to draw on reserves, predicts Moody's
Many councils will continue to draw on their reserves to manage the uncertain funding environment and offset budgetary pressures, international ratings agency Moody’s has predicted.
Sector should challenge ‘poisonous narrative’ around commercialism
Councils should not be held back from responsible commercial investments because of high-profile failures by their counterparts, according to a panel of experts.
CIPFA to publish strengthened local government prudential code
A new code of practice to ensure local authorities’ financial plans are 'affordable, prudent and sustainable' will be published by the end of the year.
