PLYMOUTH City Council has seen one of its financial accounts pitched £65m into the red as a result of its controversial shares and pension deal. The authority has had to treat the £72m transaction as a revenue expenditure meaning its reserves now show a huge deficit.
The authority, currently facing two inquiries stemming from the transaction, stressed this is only a temporary measure and is confident the Government will grant it a "capitalisation directive" which will allow it to put the reserves back in surplus.
Opposition Tory councillors said they were concerned about the situation, however, and complained that a pre-meeting was held prior to a recent audit and governance committee meeting, to discuss the financial position in private.
Diese Geschichte stammt aus der August 17, 2024-Ausgabe von The Herald.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der August 17, 2024-Ausgabe von The Herald.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
'SIGNIFICANT' RULES BREACH
FA REVEAL REASONS FOR 45,000 PITCH INVASION FINE
Rooney explains lack of action for Rami AI Hajj
WAYNE Rooney has given his reasons why Rami AI Hajj has not featured much for Plymouth Argyle lately as they have found points hard to come by in the Championship.
Gyabi: We are going to need the Green Army by our side for the rest of the season’
MIDFIELDER Darko Gyabi has spoken about the importance of the support of the Green Army to Plymouth Argyle's players ahead of the away game against Bristol City today.
FA Cup third round draw details
PLYMOUTH Argyle will find out their Emirates FA Cup third round opponents when the draw takes place on Monday, December 2.
Food banks should never be the norm
BUT FOR NOW, THEY REMAIN VITAL TO MILLIONS OF PEOPLE IN BRITAIN
MPs in historic vote for assisted dying Bill
ASSISTED dying could be legalised in England and Wales after a historic vote saw proposed legislation clear its first hurdle in Parliament.
Haigh resigned after further info emerged’ No.10
DOWNING Street declined to say whether the Prime Minister knew about Louise Haigh's criminal conviction and said that \"further information\" had come to light before her resignation.
Gregg Wallace facing more accusations
GREGG Wallace has been accused of making \"lesbian jokes\" and \"highly inappropriate\" comments in the latest of a string of complaints made against the TV presenter by people who claim to have worked with him.
World gets first look at restored Notre-Dame
THE restored interior of Notre Dame Cathedral has been unveiled for the first time after more than five years of reconstruction work.
David takes a rest after 37 years of shear effort
A GARDENER is hanging up his shears after almost 40 years helping to tend a beautiful ten-acre garden on the edge of Dartmoor. David Milburn has spent 37 years at The Garden House near Yelverton.
