Reserves

Eight in ten councils can't meet Covid-19 costs, report warns

24/06/2020

More than eight out of ten upper tier councils in England do not have enough money to cover the extra costs and reduced income caused by coronavirus, a report has warned today.

IFS urges government to relax the rules on council finance amid crisis

22/06/2020

Finance experts have called on the Government to temporarily relax rules that prevent councils borrowing to cover day-to-day spending as they deal with the coronavirus crisis.

Combined authority 'spending reserves like it's going out of fashion'

17/06/2020

Greater Manchester Combined Authority’s chief executive has expressed doubts about whether his region would be able to cope with a second wave of coronavirus infections.

CIPFA resilience index shows just 10% of councils are at financial risk

15/12/2019

The ‘majority of councils’ are not showing signs of major financial stress, the Chartered Institute of Public Finance and Accountancy has claimed.

Council reserves increase by £2bn over past year

23/08/2019

Local authorities have been commended for ‘managing their finances well’ after new figures reveal that the sector’s reserve fund has increased by £2bn.

Reserves are not the answer

13/09/2018

Overall council reserve levels have seen a surprising increase in the past year, but this has not been felt evenly across the sector, says Paul Dossett.

Somerset confident it will not follow Northamptonshire into bankruptcy

21/05/2018

Somerset County Council faces 'a very challenging position' and could run out of money within a year unless it takes action, according to a financial review.

Crisis-hit county manages to balance its books

09/05/2018

Northamptonshire County Council has balanced the books for 2017/2018 and end the financial year without using all of its reserves.

Watchdog warns of 'serious concerns' over Clackmannanshire's finances

25/01/2018

Scotland's smallest mainland council must take ‘decisive action’ to find nearly £30m in savings over the next three years, auditors say.

Local government told to boost reserves

13/09/2017

Should councils ignore government pressure to trim down their cash reserves? Sam Clayden investigates.

Cash reserves unable to meet cost of voluntary mergers, warns CIPFA

13/04/2017

Councils will be unable to cover the costs of voluntary mergers in Wales using their reserves, the Chartered Institute of Public Finance (CIPFA) has warned.

Scottish councils facing financial shortfalls warns watchdog

29/11/2016

Councils in Scotland have managed their finances well but face big challenges ahead, spending watchdogs have warned.

Thanet defends financial record despite ‘signicant risks’ from low reserves

18/11/2016

Thanet council defended ‘record of sound financial management’, despite budget report warning the council faces ‘signficant risks’ because of low reserves.

County warns its reserves will be gone in two years

27/09/2016

Lancashire County Council is not financially sustainable and would have spent all its reserves by 2018/19, a new report has warned.

Councils not using reserves should be ‘exposed’ says union

12/07/2016

Councils should be held accountable for their use of cash reserves and track how money is being utilised, according to trade union Unite.

Councils’ spending hits new low

06/07/2016

Councils’ spending in England will fall by 1% in 2016-17 (£0.9bn) according to official figures, raising concerns over the financial resilience of local authorities.

Councils to use £1.9bn from reserves to fund services

30/06/2016

Councils are planning to use £1.9bn of their cash reserves in the next financial year, according to official figures.

County to invest £10m in road surfacing project

20/05/2016

Suffolk County Council has agreed to use £10m from its reserves to fund three million square metres of new road surfacing.

Unison debate notion of ‘no-cuts budgets’

18/02/2016

A local government union has denied backing no-cuts budgets despite its members voting to use reserves and prudential borrowing to plug funding gaps.

Local government finance in a ‘mess’ warns survey

18/02/2016

Nearly nine in ten councils will have to increase council tax and start charging for services in a bid to balance the books, according to the results of a new survey.

Council chiefs lash out at ‘misleading’ reserves figure

19/11/2015

Reports that councils have more than £22bn in cash reserves have been slammed as ‘hugely misleading’ by council leaders.

Reserves already allocated for use by councils, shows survey

01/07/2015

The majority of councils have already earmarked their cash reserves for specific purposes, new research has revealed.

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