The Government has set out a list of potential conditions it could place on the council, including restricting where it can borrow from, hiking interest rates on repayments and any "additional bespoke conditions" the local government minister might decide on.
At a recent audit and governance committee meeting the authority's auditors said the council could even be made to sell off assets. The probe needs to be completed before the end of September this year - which is the cut-off date for all accounts from 2019/20 to 2022/23 to be signed off.
This could be "tricky", the council's auditors have said, because there are 18 other councils requesting financial help in the way of a capitalisation direction from the Government. Two investigations are to be held into how the council used money borrowed from the Government's Public Works Loan Board to buy shares in London-based company Miel Solutions Ltd, in 2019, which then transferred the cash into the authority's pension scheme wiping out a deficit.
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Denne historien er fra March 30, 2024-utgaven av The Herald.
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Pearce hits a 170 out in win for St Levans
FOR four out of the last four seasons of the Steve Chapman 501 League, the highest finish of the season has been the biggest fish of all, a 170 checkout. This season is no different after Mike Pearce nailed a 170 com-bination for St Levans in a 10-1 tri-umph at Bar Mez.
Work to start this year emergency care centre
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Jobless rate rises but pay growth is surging
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Henderson calls on Tavistock to show more desire
TAVISTOCK are sweating on the fitness of captain Ed Harrison and top scorer Liam Prynn ahead of tonight's southern League Division One South clash with Bristol Manor Farm.
PERMANENT RECONFIGURATION OF PARKING AND BUS LANES
PLANS which would see a permanent reconfiguration of parking arrangements as well as changes to the road layout and bus lanes at Derriford Hospital have been unveiled.
Armada Way is torn up for new temporary road
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Should you be encouraging kids to clear their plate?
PRESSURING THEM TO EAT WELL COULD BACKFIRE, CAMILLA FOSTER FINDS OUT
Galloway's injury leaves Argyle deep in crisis
MIRON Muslic has admitted Plymouth Argyle are facing 'an urgent situation' when it comes to adding more defensive options to their squad after Brendan Galloway was ruled out for the season by injury.
Marina firm in deadline to pay off £8m debts
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Trump's rapid impact
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