Total Pageviews

Thursday, March 19, 2015

Scottish councillors told to get a grip on record borrowing of £15bn

Spending watchdog warns that councils are not exercising enough oversight of borrowing decisions

Scotland’s councillors have been warned by their spending watchdog that they need far better long-term financial planning and expertise to help manage local authorities’ debts totalling £15bn.

An inquiry by the Accounts Commission has found that councillors were often in the dark about the long-term affordability of record debt levels, and were failing to exercise enough oversight of decisions to increase borrowing.

Continue reading...

from Network Front | The Guardian More