Warrington Borough Council is up for a national award for its innovative financial approach, which is helping to decrease the impact of Government austerity cuts.
The council is one of five local authorities shortlisted in the ‘Innovation in Finance’ category of the 2017 MJ Local Government Achievement Awards, one of the major events in the public sector calendar.
Warrington has been shortlisted for its focus on ‘doing things differently’ and working creatively to develop a strong, commercially-focused financial model. This has yielded an average return for the council of six percent per annum over the past two years, supporting the local economy and helping mitigate the impact of the cuts.
Cllr Russ Bowden, executive board member for corporate finance said: “Warrington is earning a reputation for its financial innovation – but what is most important is that our investments are responsible, diligent, ethical and value-for-money. It’s why we maintain a credit rating that is on a par with the governments of France, South Korea, China and Kuwait.
Everything we are doing is aimed at generating gains that can help us navigate the difficult economic climate and fund environmental, social and cultural change programmes. We believe we are one of the local authorities which is leading the way in this area, so it’s great that this work is being recognised nationally.”
The MJ Local Government Achievement Awards take place in London on June 15. Launched in 2004, the awards recognise the best local government services and personnel.
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If the Public Accounts Committee believes they: “…are concerned that the Department appears complacent about the risks to local authority finances, council tax payers and local service users arising from the increasing scale and changing character of commercial activities across the sector. The Department does not have good enough information to understand the scale and nature of authorities’ commercial activities or which authorities are placing themselves at greatest risk and it does not use the information it does have to give it a cumulative picture of risks and pressures across the sector. Unless the Department strengthens its understanding of the capital issues faced by local authorities, it will not be well placed to anticipate risks to financial and service sustainability.”
Why are the sponsors of the giving proposed award to WBC ‘for its innovative financial approach?’
It wasn’t all that long ago some local authorities dabbled with council taxpayers’ money with the Icelandic banks.
It seems to me complacency all round could well be their and our undoing
Why are the sponsors of the giving proposed award to WBC ‘for its innovative financial approach?’
i thinks it for the inventive way in which they manage to conceal actual figures from people.
Still it’s not bad that we are on a par credit wise with the likes of france and kuwait is it?
Well it looks like WBC probably nominated itself. So you choose a category where you are getting some stick and apply. If you win the ability to silence critics will seem well worth the £295 +VAT +train fare + hotel accommodation + breakfast for each delegate you send just in case you win. If you don’t win you can say you were nominated and use it as a sign of recognition with perhaps a press release!.
The awards are at the Park Lane Hilton on 15th June. …. Who are you calling cynical?
There is even an award for “Governance and Scrutiny”