Stories about Public Finance
City council set to sell Belle Isle Depot for second time
Decision follows Exeter City Living failure to redevelop council green space operations base at heart of Belle Isle Park for luxury housing.
Council sinks additional £1.25m into struggling Exeter Science Park as company unable to repay £7m debts
Serial scrutiny failures continue as emergency meeting held to increase city council exposure to joint venture to more than £2 million on top of £450,000 project costs plus £950,000 guarantee but rescue plan risks repeating earlier strategic mistakes.
Council raids community fund for £6 million to pay for eight year-old food waste collection promise
Emergency decision to finance materials reclamation facility investment taken less than a week before 2024 local elections campaign officially began.
SEND deficit deal demands £50m budget cuts, £13m asset sales and use of £20m financial reserves
Department for Education to contribute £95 million over nine years, but terms of deal require Devon County Council to break even on SEND within two years despite five years of multi-million pound overspends.
£50 million county council 2024-25 service delivery cuts concealed by £93 million costs increases
Figures essentially unaffected by budget scrutiny process during which councillors sought details of where and how cuts would fall but received few proper answers.
Revised proposals to sell council land for co-living and high-spec housing discount site viability issues
Council leader’s Clifton Hill and Mary Arches car park sale amendments agreed by Executive without discussing financial consequences, including multi-million pound value losses compelling sale of other assets to cover Exeter City Living debts.