Reserves
Resisting the 'spend your reserves' narrative
It is important we fully explain why we hold reserves, and what pressures and risks remain for local government with the significant increases in inflation and demand for services, says Tony Kirkham.
County council raids reserves for final budget
North Yorkshire CC faces having to draw on its cash reserves to meet service demand in its last year before the transition to unitary.
Council reserves grow by £10bn
The amount held in local authority reserves in England has increased to £29bn by the end of 2020-21 from £19bn in 2019-20, the latest figures have revealed.
Copeland to ask Government for £1.5m capitalisation
Copeland BC is to ask ministers for access to £1.5m in support after a Government-commissioned review laid bare the financial issues facing the authority.
Copeland in 'Section 114 territory'
Copeland BC is ‘heading rapidly towards its minimum level of reserves and an expectation internally of issuing a Section 114 notice,’ an external assurance review of the council’s financial position has found.
Slough goes back to basics for financial health
There are no quick fixes to Slough’s financial problems, but the council is committed to achieving the improvements residents have every right to expect, says Steve Mair.
LEP warning over funding uncertainty
The Marches Local Enterprise Partnership (LEP) has warned it has reached 'crisis point' after only receiving half the funds promised from the Government so far this year.
Powys' savings off target
Powys CC’s savings plans are 22% off target more than halfway through the financial year, senior councillors have been warned.
Sunak warned of greater future costs without public service investment
Chancellor Rishi Sunak must swiftly invest in public services hit hardest by the pandemic or face much greater costs down the line, a report has warned.
Chief and leader at odds over government intervention request
Tensions between Thanet DC’s chief executive and leader have erupted into the open after the latter asked the Government to intervene in the council.
Angus may use COVID reserves to plug budget holes
Angus Council may use reserves put aside for responding to the COVID-19 pandemic to plug looming holes in its budget over the next two years.
North Yorkshire reorganisation to cost millions
North Yorkshire CC has committed millions of pounds of reserves towards the costs of local government reorganisation in the county.
Shetland's reliance on reserves 'not sustainable'
Shetland Islands Council is expected to fall back on more than £29m from its reserves to balance this year’s budget.
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.
Raid on reserves will hit hard on council cash
As the Treasury threatens to raid reserves, Heather Jameson warns the 'snapshot' figures could have a long term impact on councils as we head for the spending review.
EXCLUSIVE: Councils push back over reserves raid threat
Council chiefs have pushed back as the Treasury eyes up the sector’s reserves in the run up to this year’s Spending Review, The MJ understands.
Cardiff boosts reserves in pandemic
Cardiff City Council’s reserves increased by £48m despite the impact of the COVID-19 crisis.
Thanet facing £700k legal bill
Cash-strapped Thanet DC is facing legal costs of more than £700,000 as it grapples with disciplinary and grievance procedures.
Tackle high needs before it is too late
Lorna Baxter says the statutory override in place until March 2023, which allows for a negative high needs reserve is 'not even a sticking plaster - frankly, it’s bonkers. The money has been spent'.
‘Wholesale improvements’ required at Slough
External auditors have issued a scathing report on financial management at Slough BC.
