Just under half the £46.5m invested in Icelandic banks by Scottish local authorities has been recovered (£22.7m) while councils expect to recover between 88-100% by 2019.
The figures appear in the Accounts Commission's Responding to challenges and change: an overview of local government in Scotland 2013,issued this week. Noting the ongoing financial pressures, the report added that between 2010 and 2012 there had been 10 new chief executives out of the 32 Scottish councils and a third new chief financial officers.
