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Public Finance

Stories about Public Finance

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Money for nothing

The Chartered Institute for Public Finance and Accountancy (CIPFA) closed its consultation on draft changes to the Prudential Code last month, following a preliminary consultation earlier this year. The code governs how much councils can borrow to invest and what forms of commercial activity they are permitted to pursue.

Exeter Guildhall needs repairs

£37.5 million council maintenance backlog caused by underinvestment to be part-funded by asset sales

Exeter City Council has allowed property assets to deteriorate while prioritising new schemes including the £44 million St Sidwell’s Point leisure centre, forcing it to identify assets for sale to pay its outstanding repair bills.

Great Western Hotel beside Exeter St David's railway station

Exeter rough sleepers in COVID-19 emergency accommodation face uncertain future

Exeter City Council has yet to confirm whether it will use any of the £2.15m Rough Sleeping Initiative funding it has received since 2018 to keep housing rough sleepers when government emergency accommodation funding runs out.

Exeter Cathedral and Quay car park top deck

Coronavirus halts decision to spend £3.9 million on car park repairs and upgrade

Exeter City Council spending plans will be revisited in June at same time as Net Zero Exeter carbon reduction plan is discussed by Executive.

Exeter Princesshay deserted under COVID-19 coronavirus lockdown

Exeter City Council announces £1.584m April budget shortfall caused by COVID-19 restrictions

Council revenues have fallen dramatically during the coronavirus pandemic, prompting a £6.357 million capital spending deferment. But financial support from government has so far been limited.

Exeter City Council accounts delayed by auditors Grant Thornton

Exeter & East Devon council accounts delayed by Grant Thornton’s “lack of staff resources”

Annual accounts for local government, including Exeter City Council, have been delayed by private sector firms failing to complete their work on time after cost-cutting government auditing reforms.

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