CIPFA comment: s114 notice issued by the London Borough of Croydon


In response to Croydon Council issuing a s114 notice CIPFA Joanne Pitt said:

"The fact that the London Borough of Croydon has had to issue its third s114 notice shows how big the challenges are for those now responsible for restoring the council’s financial sustainability. 

"In the current economic context, most councils face tough decisions. But when there is a legacy of significant debt, poor financial management and weak governance, a balanced budget becomes more difficult to achieve.

"The issuing of this s114 accompanied by the transparent publication of the Medium-Term financial strategy signals a desire for transparency and strong financial decision making, which should be respected."

Notes to Editor:

For more information, please contact the CIPFA Press Office.

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