FINANCE

Windsor and Maidenhead issues section 114 warning

Windsor and Maidenhead BC has warned it could be facing effective bankruptcy if financial support is not agreed soon.

Windsor and Maidenhead BC has warned it could be facing effective bankruptcy if financial support is not agreed soon.

The borough has begun talks with the Department for Levelling Up, Housing and Communities in the hope of securing exceptional financial support.

Windsor and Maidenhead, which limited all non-essential spending in September, said it had uncovered unexpected historical costs.

It warned it had ‘extremely low financial resilience' with reserves in April 2023 at an unaudited £10m – the lowest known reserves of any unitary authority – and debt that had increased from £59m in 2014 to £204m by March 2023.

A statement from the borough said that access to additional funding would give it the ‘breathing space' needed to reduce the risk of having to issue a section 114 notice.

Cabinet member for finance, Lynne Jones, said: ‘Due mainly to historical decisions, the council simply doesn't have the financial resilience to manage the risks ahead, which is why we've begun discussions with Government about additional support.

'This will give us the time and capacity to deliver our plans and achieve the transformation needed to become financially sustainable while continuing to maintain services for residents.'

FINANCE

Regeneration: Dotting the investments and crossing the Tees...

By Michelle Hambleton | 15 May 2025

Michelle Hambleton explains Tees Valley Securing Investment (TVSI), a programme funded by the UK Government through the UK Shared Prosperity Fund and deliver...

FINANCE

War of words over Surrey CC reorganisation plan

By Dan Peters | 14 May 2025

Opposition Surrey CC members have argued a plan for two new unitary authorities in the county was based on ‘inconsistent, incomplete and flawed data’.

FINANCE

Council plans further Exceptional Financial Support bid

By Dan Peters | 14 May 2025

Windsor & Maidenhead BC will need to agree a package of Exceptional Financial Support (EFS) with the Government for next year, it has announced.

FINANCE

Reasons to cheer – but the work isn't finished

By Jason Lowther | 13 May 2025

Jason Lowther says the new Government has got off to a promising start on rectifying the many crises in local government funding. But there is trouble ahead ...

Popular articles by William Eichler