
Low Cost Funding and Interest Rate Risk Management
In April 2020 Arlingclose worked with one of its local authority clients to transact an Interest Rate Swap (Swap) which locked in a rate of 0.56% on £75million of funding for a period of 20 years.

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In April 2020 Arlingclose worked with one of its local authority clients to transact an Interest Rate Swap (Swap) which locked in a rate of 0.56% on £75million of funding for a period of 20 years.

The PWLB has recently announced a reduction in the margin applied to loans that will be used to fund capital expenditure within the Housing Revenue Account (HRA).

One area that has seen lots of attention is the growth in ESG funds or the incorporation of ESG into existing funds’ strategies and the terms exclusions and engagement are often thrown around in this conversation. But is one better than the other?

Is persistent inflation here to stay?

Local authorities in other countries can get into financial difficulties too. It’s not just Woking, Thurrock, Slough and Croydon that have been making headlines recently. Guizhou, a region in China, has been in the press over concerns about high debt levels, a likelihood of default and the possibility of a bail-out from the central government in Beijing.

We are proud to announce that we have successfully supported the trading of secured deposits in collaboration with the innovative fintech Consort1, along with Clearstream, Standard Chartered Bank, NatWest, Alpha Group, and BankClarity, with Gloucestershire County Council being among the first UK local authorities to utilise the new service.

A product of the audit process is for an independent assessment on the financial statements of an organisation to express an opinion on their fairness and compliance with applicable accounting principles, which is given through the auditor’s opinion.

Given the challenge presented by the last few years, are we any closer to settling the perennial active versus passive debate?

The crisis in the audit of local authority accounts has been widely publicised with the Department for Levelling Up Housing and Communities (DLUHC) currently carrying out an inquiry into the current backlog that exists. What changes could be made?
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