Nottinghamshire Live understands that an official announcement from the council could be made in the coming days.
Nottingham City Council is on the verge of issuing a bankruptcy notice as it battles a multi-million pound black hole in its finances, Nottinghamshire Live understands. The Labour-led authority revealed in July that it had a £26 million gap in its budget for this ongoing financial year, which ends in April.
The Institute for Government says that 13 councils have issued Section 114 notices since the legislation introducing them was passed in 1988, with the most recent council to do so being Birmingham City Council on September 5. Nottingham previously issued a Section 114 notice in December 2021, but that was of a different nature.
But Birmingham City Council's leader has not ruled out changes to the way in which these statutory services are delivered following his authority's Section 114. Pressed by Birmingham Live on whether services such as bin collections could change because of the bankruptcy notice, the leader said: "Clearly we've got to do some detailed work around finances in the council and how we deliver those services.
These issues include the collapse of Robin Hood Energy and the illegal Housing Revenue Account spending. Such problems led to the Government appointing an Improvement and Assurance Board to oversee improvements at Nottingham City Council. Nottingham Labour said on the state of the city council's finances last month: "Nottingham is struggling, for too long we have been underfunded...We are standing by even as the government turns its back. We cannot do this forever though, we cannot do this if demand keeps increasing, if funding continually falls and if inflation continues to rise."
Nottingham City Council Bankruptcy Notice Financial Crisis Budget Gap Labour-Led Authority
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