The Nottingham Post has reported on Nottingham City Council ‘bankruptcy’ public meeting, to discuss the council’s recent Section 114 notice and what action will be taken next.
image for illustration by Fiona Newton
The Nottingham Post writes:
A date has been set for a crucial Nottingham City Council meeting after the authority effectively declared bankruptcy. Following the issuing of the Section 114 notice on November 29, indicating that the council is unable to balance its budget this financial year, a full meeting of the authority had to be held within 21 days…
But spending control measures will continue after the council meets if this is part of the agreed action plan to manage its overspend. The effective bankruptcy notice was issued amid a continued £23 million gap in Nottingham City Council’s budget this financial year….
The most recent authority to issue a Section 114 before Nottingham was Birmingham City Council….
