23rd July 2024

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LRALC secures NALC support to lobby for changes for local councils

LRALC secures NALC support to lobby for changes for local councils

LRALC is not just an advice and training body, we also represent our members and campaign on their behalf.

Thanks to support from LRALC, two proposals from LRALC member councils have now become national policy. Barrowden and Broughton Astley Parish Councils contacted NALC to ask for changes to be made regarding thresholds applicable to local councils in two areas of financial operation, namely:

  • Increasing the maximum threshold of the definition of "small local authorities" from 500,000 euros to trigger protections for a greater number of local councils under the Financial Service Compensation Scheme. FSCS is the scheme which protects funds held in banks by individuals and organisations, and currently many local councils do not have protection as their turnover is too high.
  • Increasing the £25,000 audit threshold. This threshold is the one which allows smaller councils to declare themselves exempt from external audit, but strengthens local transparency requirements. Along with the threshold increase, LRALC asked to introduce a transparency code for local councils with annual turnover between £25,000 and £200,000 and for the sector to promote good practice in internal audit and compliance.

NALC Policy Committee have now adopted these as national policy. Further information can be read here, on the NALC website.

Member councils who would like LRALC's support on issues effecting them should contact the office in the usual way.

Posted: Wed, 5 Apr 2023 14:25 by Jake Atkinson

Tags: Lralc, Nalc, Policy