Commercial investment
Warrington in credit downgrade
Ratings agency Moody's said the council had moved from A2 to A3 due to 'high reliance on commercial income’.
Warrington rejects inquiry call
Warrington Council’s Labour leaders have fended off demands for an immediate inquiry into its investments in Together Energy.
Hillier rages over 'chronic' lack of funding
A ‘chronic’ lack of funding for council services amid soaring demand means many communities face a ‘long slog’ out of the COVID-19 pandemic, MPs warned today.
Council-backed energy firm collapses
Together Energy has announced today it has ceased trading, exposing Labour-led Warrington Council to heavy financial losses.
Council-backed energy firm close to collapse
Together Energy, which is 50% owned by Warrington Council, is close to running out of funding, according to reports.
This provisional settlement makes the job of districts harder
The Provisional Local Government Finance Settlement falls short of what district councils need and leaves funding gaps that undermine the ability to deliver essential services, says Cllr Sharon Taylor.
Prudential code changes sparks fear for district finances
Plans to change the rules on prudential borrowing have provoked fears that district councils’ finances will be at risk if they are unable to invest commercially.
Statutory recommendation threat dropped
Warrington Council has escaped the threat of a statutory recommendation being issued by its external auditor Grant Thornton.
LGA members accuse CIPFA of 'mission overreach'
Proposed changes to finance rules have provoked anger from the Local Government Association (LGA).
Ofgem threatens to revoke licence from Together Energy
The energy watchdog has threatened to withdraw the supplier’s licence from Together Energy, part-owned by Warrington BC.
Council firm loses millions of pounds
A property development firm established by Cambridgeshire CC to provide a new revenue stream lost £3.4m last year.
Council to close ethical debt collection firm
Hammersmith and Fulham LBC is to close its ethical debt collection company after failing to garner sector interest in the concept.
CIPFA raises concerns over council company
Sutton LBC has been told it will have to invest more money into a troubled low-carbon energy project.
Council energy firms lose £100m
Council-owned energy firms have lost £114m over four years, according to new analysis.
Plugging the net zero funding gap
The UK Climate Change Investment Commission is developing a radical place-based offer to private finance, says Alison Griffin - and it estimates in the core cities and London boroughs alone there is potential for up to £500m worth of investment.
Time to pull the belts in and batten down the hatches – again
Tracie Langley says her task of signing off that a budget is robust has to be based on a significant confidence that savings are deliverable, which is becoming tougher when costs are increasing 'without any relationship to the consumer price index'.
Call for council to pull out of loss-making bank
A bank part-owned by Warrington Council has made a loss, according to its latest accounts.
Warrington rebuffs call to end energy investment
Opposition members at Warrington Council have urged the authority to end its investment in a green energy company as the sector is engulfed in crisis.
Council to review development company
Cambridgeshire CC has brought in external consultants to look into its development company.
The importance of being prudent on investment
Richard Lloyd-Bithell explains why CIPFA's new Treasury Management and Prudential Codes 'continue to uphold a key principle of the prudential agenda: that borrowing primarily for return investment is not permissible'.
