Reserves | LocalGov

Auditors concerned by slow transformation

27/03/2024

Scotland’s Accounts Commission is ‘extremely concerned’ by slow transformation at Moray Council, which faces a £31m deficit despite years of warnings.

40% of councils face ‘financial failure’

15/01/2024

Two in five councils in England could see their reserves drop to less than 5% of their net revenue expenditure within the next five years, new study finds.

Welsh councils face £750m shortfall

25/10/2023

Local government finances in Wales are on an ‘unsustainable path’, according to a report from Cardiff University’s Wales Governance Centre.

DCN in cuts warning

24/10/2023

Cultural services, community support and parks and green spaces are all at risk of cuts without a boost to the local government finance settlement, respondents to a District Councils’ Network (DCN) survey have warned.

Council to limit non-essential spending amid s114 threat

28/09/2023

Windsor & Maidenhead BC is to limit all non-essential spending as it raised the risk of a section 114.

Nine councils in section 114 warning

25/08/2023

Nine councils within the Special Interest Group of Municipal Authorities (Sigoma) have warned they could issue a section 114 notice by 2025.

Reserves 'critical' at Middlesbrough

16/08/2023

‘Critically low’ levels of reserves have left Middlesbrough Council in danger of issuing a section 114 notice.

BCP Council in bankruptcy warning

14/08/2023

Bournemouth, Christchurch and Poole (BCP) Council has warned tough budget decisions are needed if the council is to avoid bankruptcy.

Council urged to address low reserves

12/06/2023

Senior managers at Eastbourne BC must address the council’s low levels of reserves given current cost pressures within sector, an LGA-led review has warned.

EXCLUSIVE: ‘It’s time for a new Audit Commission’

12/04/2023

An ex-senior mandarin has today called for a new Audit Commission as The MJ reveals the draft metrics the Government is considering for its new watchdog.

Reserves grow to £31bn, resilience index reveals

21/12/2022

The 2022 edition of CIPFA’s Resilience Index reveals that councils’ reserves have grown to £31bn, up from £29bn in 2020/21.

One in six councils at risk of running out of money next year

06/10/2022

One in six councils in England could run out of money as early as next year without further budget cuts or additional income, new research has warned today.

Council reserves grow by £10bn in past year

02/02/2022

The amount held in local authority reserves in England has increased to £29bn this year from £19bn in 2019/20, the latest figures shows.

LEP 'at risk' over funding uncertainty

08/11/2021

The Marches Local Enterprise Partnership 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

01/11/2021

Powys CC’s savings plans are 22% off target more than halfway through the financial year, senior councillors have been warned.

Sunak urged to tackle backlogs in public services or face greater costs

19/10/2021

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.

‘Wholesale improvements’ required at Slough

10/05/2021

External auditors have issued a scathing report on financial management at Slough BC.

Lambeth to reimburse £27m of water bills

06/05/2021

The decision follows years of legal wrangling over charges collected on behalf of Thames Water.

Over half of councils face financial failure without spending review funding increase

23/11/2020

Half of English councils will be at risk of financial failure if the spending review just provides a ‘rollover’ of funding levels from this year for 2021/22, new analysis has warned today.

Councils facing £2bn budget black hole

18/08/2020

Councils face a budget black hole of £2bn this year due to unfunded coronavirus costs, a new study has found.

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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