William Eichler 23 May 2024

Windsor and Maidenhead council issues bankruptcy warning

Windsor and Maidenhead council issues bankruptcy warning  image
Image: rbwm.gov.uk.

The Royal Borough of Windsor and Maidenhead 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.

The council, which limited all non-essential spending last September, said that it has uncovered historical costs which were not previously budgeted for.

It also warned it has ‘extremely low financial resilience’ with reserves in April 2023 at an unaudited £10m – the lowest known reserves of any unitary authority – and debt which has increased from £58.7m 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 statutory Section 114 notice.

Cllr Lynne Jones, cabinet member for Finance, 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.’

Check out: Councils in crisis: time to stop the cycle of decline.

SIGN UP
For your free daily news bulletin
Highways jobs

Strategic Director – Place-Based Services

Stevenage Borough Council
£Competitive
Stevenage is a town with bold ambitions. Stevenage, Hertfordshire / Hybrid
Recuriter: Stevenage Borough Council

Social Worker - Children's Assessment and Safeguarding

North East Lincolnshire Council
ASYE level £36,363 up to £46,142
Make the change, be the difference to our children, our future. North East Lincolnshire
Recuriter: North East Lincolnshire Council

Assist Response Officer

Mansfield District Council
£16,055.87 - £17,113.37 per annum (for 22.5 hours per week)
Mansfield District Council are looking for a dedicated individual to join our award winning ASSIST support scheme. Mansfield, Nottinghamshire
Recuriter: Mansfield District Council

Town Centre Operative

Mansfield District Council
£25,583 - £25,989 per annum
Working in local government is a rewarding experience Mansfield, Nottinghamshire
Recuriter: Mansfield District Council

Resettlement Officer

Ashfield District Council
£28,598 - £31,022 per annum
Would you like to work in our Housing Options Team helping people to settle in the local community? Sutton-In-Ashfield, Nottinghamshire
Recuriter: Ashfield District Council
Linkedin Banner