ricgem2002 Posted June 21, 2017 Share Posted June 21, 2017 after reading about the Grenfell tower disaster and the local council has all this money in the banks is this money taken in consideration when cutting council services.? what is this money stored in the banks for? is their a list of all councils stating how much money each has in the banks ? a little confused Link to comment Share on other sites More sharing options...
tzijlstra Posted June 21, 2017 Share Posted June 21, 2017 after reading about the Grenfell tower disaster and the local council has all this money in the banks is this money taken in consideration when cutting council services.? what is this money stored in the banks for? is their a list of all councils stating how much money each has in the banks ? a little confused Grenfell was run by a privatised housing association, not the council. Link to comment Share on other sites More sharing options...
Supertramp Posted June 21, 2017 Share Posted June 21, 2017 Grenfell was run by a privatised housing association, not the council. Pensions?? oops replied to wrong post Link to comment Share on other sites More sharing options...
geared Posted June 21, 2017 Share Posted June 21, 2017 Grenfell was run by a privatised housing association, not the council. Although Kensington council is supposed to be one of the richest in the country due to the amount of council tax they pull in?? (according to the media) Link to comment Share on other sites More sharing options...
alchresearch Posted June 21, 2017 Share Posted June 21, 2017 Not a new story I'm afraid. My local council was lending to other Labour councils. I wish I could get such a great rate on a loan http://www.wirralglobe.co.uk/news/10575021.EXCLUSIVE__Wirral_Council_under_fire_after_lending___35m_to_other_local_authorities/ Link to comment Share on other sites More sharing options...
ricgem2002 Posted June 21, 2017 Author Share Posted June 21, 2017 Grenfell was run by a privatised housing association, not the council. that's why ive started a thread about councils and money in the bank Link to comment Share on other sites More sharing options...
apelike Posted June 21, 2017 Share Posted June 21, 2017 SCC I believe have over £159 million in reserves at the last count but.. From that you have to take away the money reserved for looking after schools, then money that forms the Housing Revenue that can only be spent on housing, then the money that is already committed on spending. Despite government cuts SCC seem to have a bigger surplus now than in 2015 https://www.sheffield.gov.uk/content/dam/sheffield/docs/your-city-council/budgets-and-spending/Sheffield%20City%20Council%20-%20Summary%20Accounts%202015-16.pdf Link to comment Share on other sites More sharing options...
Lockdoctor Posted June 22, 2017 Share Posted June 22, 2017 As long as the money is in British banks, then what is the issue? Big organisations such as councils need an healthy surplus in order not to have cash flow problems. Would local people be happy if their council had zero amount of cash in the bank? Link to comment Share on other sites More sharing options...
El Cid Posted June 22, 2017 Share Posted June 22, 2017 Despite government cuts SCC seem to have a bigger surplus now than in 2015 https://www.sheffield.gov.uk/content/dam/sheffield/docs/your-city-council/budgets-and-spending/Sheffield%20City%20Council%20-%20Summary%20Accounts%202015-16.pdf I would not believe it, unless I saw the cash. The Government have a deficit, and debt, perhaps a council 'surplus' is not real money. If they have a surplus, how come borrowing is stated to be £755m? Link to comment Share on other sites More sharing options...
Berberis Posted June 22, 2017 Share Posted June 22, 2017 Grenfell was run by a privatised housing association, not the council. My understanding was it was run by a private business, but it was a council property. Housing association properties are not council owned. Link to comment Share on other sites More sharing options...
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