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Supporting Local Councils in Leicestershire & Rutland

Tags: Financial

Government increases margin applied to new PWLB loans with immediate effect

Public Works Board lending is offered at a fixed margin above the Government's cost of borrowing, as measured by gilt yields.

The Treasury raised the margin over gilts to 100bps (one percentage point) in 2010, to better reflect the availability of capital finance, and lowered it to 80bps over gilts in 2013.


Some local authorities have substantially increased their use of the PWLB in recent months, as... Read More »

Posted: Mon, 14 Oct 2019 22:35 by Jake Atkinson

Tags: Guidance, borrowing, Financial

Close of Audit 2018-19

As always at this time of year we are publishing information to assist our member councils in ensuring that they are compliant and are fulfilling legal requirments placed upon them with regards to the annual audit process for all councils.

Councils which were eligible to certify as exempt from external audit (ie below £25k turnover), and did so, will receive nothing further from their external... Read More »

Posted: Fri, 04 Oct 2019 12:01 by Jake Atkinson

Tags: LRALC, Financial, audit, Finance & Audit

NALC Model Financial Regulations - Important Revisions

NALC has issued a revised version of its model Financial Regulations (FRs) which requires a relatively large number of amendments to be made to existing FRs used by councils that are based on the NALC model.

See below for the revised document and guidance on implementing the changes.

Posted: Mon, 05 Aug 2019 10:38 by Jake Atkinson

Tags: Guidance, Nalc, Financial

NALC Response to 2019-20 Local Government Finance Settlement Technical Consultation

NALC's response to the 2019-20 Local Government Finance Settlement Technical Consultation can be seen below. This covers the ongoing moratorium on "capping" for local councils, and reform of localisation of business rates to provide a share for local councils.

Posted: Tue, 12 Mar 2019 17:23 by Jake Atkinson

Tags: Nalc, Financial, consultation, Funding, Precept

NEW COURSE - Local Council Planning for the Medium Term

This course is designed for parish and town councillors and clerks from councils that are interested in maximising the opportunities presented by the 3 year moratorium on "capping".

Many councils are not considering the opportunity for medium term planning provided by the government's announcement that it does not intend to apply the referendum principles (known colloquially as "capping") to parish... Read More »

Posted: Fri, 21 Sep 2018 11:37 by Jake Atkinson

Tags: LRALC, Financial, Finance & Audit, Funding

Build a better budget: the importance of ensuring adequate training provision

The world of parish and town councils is ever changing, with councillors and clerks regularly being faced with new challenges and opportunities both at a national and local level. GDPR and the recent changes to the external audit process are but two recent examples.

At LRALC one of our key roles is to help your councils keep up-to-date with these changes and make the most of the opportunities that come... Read More »

Posted: Wed, 19 Sep 2018 18:37 by Jake Atkinson

Tags: LRALC, training, Financial

Spending parish council money on your local church (including burials): what are parish councils legally allowed to do?

As we always say in our well-attended and popular Councillor Training sessions, modern parish councils often encounter difficulties operating effectively within a framework of rather older (and dare we suggest outdated) legislation.

As LRALC has previously advised, the Local Government Act 1894, for example, expressly prohibits councils from spending any money on maintaining or improving church property.... Read More »

Posted: Fri, 23 Mar 2018 13:17 by admin

Tags: LRALC, Guidance, Financial

No "capping" (referendum principles) for Parishes for three years

The Local Government finance settlement was presented to the House of Commons yesterday.

The Secretary of State for Communities and Local Government has announced "that the government intends to defer the setting of referendum principles for town and parish councils for 3 three years".

For further information, please click here

Posted: Wed, 20 Dec 2017 10:57 by Jake Atkinson

Tags: LRALC, Guidance, Financial, Precept