Asset management
Guildford to sell £50m of assets
Guildford BC has approved the sale of £50m of assets over three years under plans to stabilise the Surrey-based authority’s finances.
Ministers to make more changes to debt rules
Ministers are poised to impose immediate further changes to local government debt rules – including stricter in-year reporting of unpaid loan repayments due to town halls.
There is no quick fix
The announcement of £2.5bn of ‘exceptional financial support’ for councils will fail to fix local government’s finances, a senior sector figure has said.
Selling the family silver is a mistake
The Government is Incentivising councils to sell off publicly-owned assets, 'but these flexibilities should not become business as usual and they are not a sufficient substitute for a reform of our broken funding system', warns Rob Whiteman.
Government's asset sale plan: Short-term fix or long-term disaster?
Selling council assets may provide a quick fix of cash, but cuts off future revenue supplies and worsens budget deficits, warns Thomas Howard.
Saving assets through community ownership
Polling for Power to Change shows if councils are forced to sell their assets the public strongly favour them being sold to community organisations and locally-run businesses, says Josh Westerling.
Bankrupt council sells failed windfarm portfolio for £700m
Bankrupt Thurrock Council has sold its portfolio of 53 solar farms in a bid to recoup its crippling debts.
FRC backs Treasury asset valuation review
The Financial Reporting Council (FRC) has backed the Treasury’s thematic review of local government’s valuation of non-investment assets such as roads and office buildings.
Little takes over investment pool chair
The founder of asset management advisory firm Alderwood Partners has taken over as chair of the Local Pensions Partnership Investments (LPPI) pool’s board.
Bromley to stay in London collective investment vehicle
Bromley LBC will stay in the London collective investment vehicle (LCIV) pooling Local Government Pension Scheme assets after securing changes from new boss Dean Bowden.
Pensions chief bids to keep funds in pool
The new boss of the London collective investment vehicle (CIV) pooling Local Government Pension Scheme assets has launched a charm offensive to stop funds quitting.
LGPS consultants accused of 'group-think'
An independent expert has accused the big consultants of ‘group-think’ as he called for more Local Government Pension Scheme (LGPS) assets to be invested in Britain.
Growth for pension pool despite Covid
One of local government’s biggest joint pension partnerships has now pooled more than three-quarters of the assets under its management.
Review calls for governance and oversight changes
A review of a Liverpool City Council subsidiary has recommended improvements to governance and oversight to reduce financial risk.
Council’s biggest creditor poised to enter adminstration
The solar energy firm at the centre of a financial storm at Thurrock Council has entered administration.
Maximising the potential of vacant municipal property stock
With so many vacant properties post-pandemic, installing property guardians ca cut the costs of security and even bring in council tax for local authorities, says Stuart Woolgar
Copeland in 'Section 114 territory'
Copeland BC is ‘heading rapidly towards its minimum level of reserves and an expectation internally of issuing a Section 114 notice,’ an external assurance review of the council’s financial position has found.
Talks over departure of Slough's Wragg
Talks that are expected to lead to the departure of crisis-hit Slough Council’s chief executive Josie Wragg are underway, The MJ understands.
Slough approves £600m asset sale
Crisis-hit Slough Council has approved plans to flog around £600m worth of assets as it battles to get its finances under control.
Thurrock targets 30 properties for asset sale
Officers have recommended the assets be declared surplus to requirements and released for sale or developed as housing.
