No Bankruptcy Without Public Accountancy

In October 2019 WLBC told us “The Council spent £72.3m in providing day-to-day services for the local community in 2018-19. The Council also invested £19.6m in capital projects during the year to maintain and develop the services that it provides. Total usable reserves reduced by £1.0m over the course of the year to £25.7m.

So you might wonder how and why it is rumoured that we could be heading down a coronavirus black hole, as some councils are. Many local authorities are apparently considering declaring themselves bankrupt by use of a 114 notice. This has happened before, as in the Brown stuff!

We read that “At least another 17 local authorities are also considering issuing a 114 notice, following the example of Northamptonshire county council in 2018. This would force them to impose severe spending restrictions with cuts to services such as parks, libraries and museums”.

A senior local government source said “Many finance directors have their finger on the 114 notice trigger

The end of the first [financial] quarter in June may be when they pull it if they continue to lose confidence that councils will receive the support they need from government”.

Councils considering issuing a 114 notice include Bath & North East Somerset, Stevenage, Liverpool and Windsor & Maidenhead.

We council tax payers still don’t know if WLBC has had a coronavirus cash injection, but we should be told when, why, and how it will be accounted for?

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s