Ellie Ames 19 July 2023

Report reveals lead-up to Coventry culture trust collapse

Report reveals lead-up to Coventry culture trust collapse image
Image: Pajor Pawel / Shutterstock.com.

A new report has laid bare the events leading to the collapse of the Coventry City of Culture Trust, including how financial problems re-emerged just a month after the city council loaned the Trust £1m.

The National Audit Office (NAO) has published a new report setting out a timeline of funding allocations and financial difficulties ahead of the Trust entering administration in February this year.

Coventry’s stint as City of Culture began in May 2021, delayed by four and a half months by the Covid-19 pandemic.

Financial difficulties struck the same year, first reported by the Trust in August.

The NAO said Arts Council England then commissioned an independent financial review of the Trust, which made changes and reported improved financial health in March 2022.

By the autumn, the NAO report said, the Trust’s finances were again under pressure, owing to lower than expected income, increased costs caused by the pandemic – and an ‘accounting error’.

In October, the Trust requested and received a £1m loan from Coventry CC, intended for the delivery of the legacy programme of events.

A month later, financial problems re-emerged, and the Trust entered administration soon after.

The NAO said its report ‘is a factual briefing and does not aim to evaluate or report on the value for money of the Coventry UK City of Culture year or of the Trust’.

It said it did not investigate the causes of insolvency, or the actions of Coventry City Council and Warwickshire County Council.

Other organisations are working to determine how and why the Trust became insolvent.

A council spokesperson said: ‘In the meantime, the Council will continue to focus on working with local, regional and national partners to deliver the arts and cultural legacy for the city that we hoped the Trust would be able to do.’

Planning London under Labour image

Planning London under Labour

Grant Leggett, Executive Director and Head of Boyer’s London planning team, looks at the impact of a future Labour government on planning in London.
For your free daily news bulletin
Highways jobs

Building, Property Information and Compliance Manager

City of York Council
£47,760 to £54,463
We are looking for a motivated manager with experience of leading diverse and challenging teams. North Yorkshire
Recuriter: City of York Council

Applications Support Analyst

West Northamptonshire Council
£33,369 - £36,163
Fixed Term Contract until March 2025 (possibility to extend) Join our dynamic team as a 2nd/3rd Line Applications Support Analyst and play a pivotal role in supporting our systems and applications. This second-line position involves handling technical an Northampton
Recuriter: West Northamptonshire Council

Assistant Director for Education

Essex County Council
Assistant Director for EducationPermanent, Full Time£97,874 Per AnnumLocation
Recuriter: Essex County Council

Technician NRSWA Inspector

Derbyshire County Council
£27,507 - £29,418 per annum
Within the Highways Directorate we are looking for an enthusiastic, customer focused and experienced person to join the Service Derbyshire
Recuriter: Derbyshire County Council

Strategic Manager SEND

Stoke-on-Trent City Council
£70,999 - £74,630
Want to feel proud of your achievements every day? Stoke-on-Trent, Staffordshire
Recuriter: Stoke-on-Trent City Council
Linkedin Banner

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.