Local Government Finance
Our Public Sector Team has expertise in all aspects of local government finance and we are experienced at advising local authorities.
We understand the obligations that local authorities have in setting a budget each year and working within this, as well as the requirements for them to account appropriately for capital and revenue expenditure.
Local authorities have powers to secure funding through investment and borrowing powers, but must ensure these are exercised for appropriate purposes within the scope of the relevant powers. They also need to ensure their arrangements are consistent with the requirements of statutory guidance. Local authorities who intend to borrow from the Public Works Loan Board need to understand the terms and conditions of the PWLB, such as the requirement that borrowing should not be made in advance of need, purely to generate a yield. We are experienced at advising local authorities on projects which require borrowing or investment.
Local authorities may also be responsible for distributing grants, both in their own right and as accountable bodies for other sources of grant funding. We can advise on putting in place suitable terms and conditions and robust arrangements for the management of grant funding.
We can assist local authorities with:
- Issues relating to the setting of budgets and council tax levels
- Use of powers which raise finance
- Advice on the application of statutory guidance
- Advice on the terms and conditions of the Public Works Loan Board
- Advising local authorities on addressing avoidance of liability for council tax and business rates