Council borrows £50m through PWLB
Councils borrowed £95m from the Public Works Loan Board during January. Figures from the Debt Management Office show that 31 loans were made during the month, with Essex County Council taking £50m of the total. Across the board, loans ranged from four to 48 years.
Finance commission calls for London tax raising devolution
The argument for devolving tax raising powers to London has strengthened following measures giving Scotland and Wales more powers, according to the London Finance Commission. A new report by the body said: “We continue to recommend the devolution of the full suite of property taxes, including council tax, business rates and stamp duty to the capital.”
Contracts value falls following Brexit vote
The value of local government contract awards fell in the wake of the EU referendum, according to new figures. An analysis by public procurement data firm Tussell found that the value of council contracts declined by 17% in the second half of 2016, compared to the same period the previous year. In contrast Central government contract values increased by 10% and the NHS increased by 103%.
Lambeth signs innovative funding deal
Lambeth Council has signed an “outcomes contract” with a private supplier to deliver school transport for children with special needs. Supplier HCT Group will only receive payments from the authority if it achieves specific goals. One payment will be made on completion of the course; a second if the beneficiary maintains independence for one term subsequently; and a third if the beneficiary maintains independence for a full year.
Welsh auditor general voices qualified audit concerns
The Auditor General for Wales has raised worries about the number of community councils receiving qualified audit opinions. In a report on the issue, the watchdog said there is scope to improve financial management and governance, especially relating to the quality of financial reporting. Auditor general Huw Vaughan Thomas, said: “It is worrying to see that a number of councils have qualified opinions which are easily avoidable and I would urge them to undertake an investigation into their current practice to ensure they are compliant with their legal requirements before the 2016-17 audit reviews.”
More councils sign up to estates initiative
A further 79 councils are to join a government programme to encourage property rationalisation within the public sector. The total number of authorities participating in the One Public Estate programme has now reached 255 — almost three quarters of all councils in England.
