Showing posts with label Financial Failure. Show all posts
Showing posts with label Financial Failure. Show all posts

Monday, 7 December 2015

Newham Accuses TMO Of 'Significant Failure'

Newham Council has accused a tenant management organisation of “significant failure” to manage its finances, in a row over its attempt to dissolve the group. The east London borough has ordered Carpenters Tenant Management Organisation (CTMO) to pay more than £200,000, transferred its staff to the council and moved to end its management license. CTMO is a tenant-run body which has managed the Carpenters Lane Estate in Stratford since 1998. Newham plans a major regeneration of the estate, but has faced high-profile resistance from campaigners supported by CTMO. In a statement, the council said it had decided to end the contract with the TMO and bring services back in house to protect the housing service for tenants. Read the full statement on the Newham Council website.

Friday, 21 November 2014

Half of Councils at Risk of Financial Failure within Five Years

One in six councils are not expected to deliver services within budget this year, and more than half of all councils are at risk of financial failure within the next five years, a report from  the National Audit Office says. As the government pushes ahead with funding cuts of more than a third in local government many single-tier and county councils feared for core services including education and social care. The NAO also said the CLG had no way of monitoring the financial sustainability of councils. In keeping with past reports, it found that the councils hardest hit were those most dependent on government grants. Read more on the NAO website.