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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.


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from Network Front | The Guardian http://ift.tt/1LwsAn0Read More


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