Councils can pay their bills

I asked Wokingham Borough this week if they have sufficient cash to meet their payments. The Leader of the Council said their financial position is strong and they can pay all their bills. I am not therefore pressing for emergency facilities for them which the government has promised for cash strapped Councils. I have not heard of any problems at West Berkshire either.

1 Comment

  1. nhsgp
    April 18, 2020

    Looking at the Berkshire Local government pension fund accounts, then they are completely cash strapped.

    1. They assume returns in investments which are unsustainable.

    If we take 31 March as the valuation date

    Assets 2,081.944 million
    Liabilities 4,412.936 million.

    Those assets have just crashed. (Are you sure – bonds have probably done quite well, do you know the portfolio exposures ed)

    Why do you believe they have a strong financial position (etc ed)?

    Report is here

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