Section 114 notices issued by council chief finance officers, auditor Reports in the Public Interest, statutory recommendations and advisory notices under the Local Audit and Accountability Act 2014. Government statutory interventions are tracked on body pages.
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Five statutory recommendations under section 24 and Schedule 7, made within the auditor's Report in the Public Interest, covering past governance arrangements, investment decisions and financial strategy.
Report in the Public Interest on past decisions that contributed to the council's financial position, finding historic shortcomings in financial, governance and legal arrangements and making five statutory recommendations.
Notice issued on the basis that the council could not deliver a balanced budget for 2023/24, with a net forecast General Fund pressure of £23.351m, over 80 per cent of it in People's services.
Second 2023 notice, issued alongside a section 5 report by the monitoring officer after a decision on implementing a new pay equity system did not proceed.
First of two 2023 notices, citing an equal pay liability in the region of £650m to £760m that the council could not fund, alongside an in-year budget gap of around £87m.
Notice issued against core funding of about £16m for 2023/24, with a deficit of £1.2bn arising from a historic investment strategy that produced unaffordable borrowing and irrecoverable loans.
Notice reporting an in-year deficit of £452m for 2022/23, driven by write-downs on investment assets, under-assessed Minimum Revenue Provision and exposure to short-term borrowing.
Third Croydon notice, citing unfunded deficits forecast from 2023/24 onwards and no prospect of financial sustainability without extraordinary government support.
Second Croydon Report in the Public Interest, on the Fairfield Halls refurbishment delivered through the council's company Brick by Brick. The auditor concluded the council failed to ensure proper financial control and effective governance; the project was delivered late and...
Notice issued with a parallel section 5 report after a CIPFA review found about £15.86m of ring-fenced Housing Revenue Account funds had been wrongly credited to the General Fund over six years.
Notice issued by the section 151 officer citing incorrect Minimum Revenue Provision calculations since 2016/17, borrowing that had risen from about £180m to £760m, effectively no unallocated general reserves and a projected negative General Fund balance of £159m by March 2025.
Four statutory recommendations under section 24 and Schedule 7 concerning financial reporting and the management of reserves, with two further statutory recommendations in July 2021 on financial management capacity.
Second notice, issued after the council had not agreed a balanced budget, citing a potential in-year shortfall of £66m for 2020/21.
First of three Croydon notices. The council faced a forecast overspend and carried debts of around £1.5bn, linked in part to its housing development company.
Report in the Public Interest on the council's financial position, financial decision-making and governance, making 20 recommendations of which 8 were high priority.
Report in the Public Interest on Robin Hood Energy, the council-owned energy company, finding inadequate governance and a failure to understand the risks of entering the energy market, with cumulative company losses of about £34.4m. Published in the week to 11 August 2020.
Second notice in five months, reflecting a projected in-year deficit the council could not meet from available resources.
First of two 2018 notices. The chief finance officer reported a significant risk that the council could not deliver a balanced budget, with forecast overspending it could not contain within resources.
Auditor advisory notice under section 29 and Schedule 8 of the Local Audit and Accountability Act 2014, warning that the 2018/19 budget proposals did not balance and relied heavily on one-off measures such as the sale and leaseback of One Angel Square. A further advisory notice...
The council's treasurer issued a section 114 notice predicting a shortfall of about £15.5m by the year end, requiring in-year budget cuts of around £4.5m.
First section 114 notice issued in England since the early 1990s, issued amid the council's financial difficulties.
| Category | Value |
|---|---|
| 2000 | 2 |
| 2018 | 3 |
| 2020 | 4 |
| 2021 | 3 |
| 2022 | 3 |
| 2023 | 4 |
| 2024 | 2 |
The chart shows financial failure events by calendar year.