Capital finance review - statement
Eastleigh Borough Council can confirm that is continuing to work closely with the Department for Levelling Up Housing & Communities (DLUHC) to help them to better understand the financial position of the Council. DLUHC officials have concluded their initial review, which indicated that the Council’s borrowing levels were higher than average, but have to date found no problems regarding the risks in the Council’s portfolio and financial management.
The Council looks forward to assisting with the external review commissioned by the DLUHC.
Council Leader, Councillor Keith House said: “The Government is finally trying to learn how local councils work, in times of austerity. Like many councils, Eastleigh has over the last 15 years, used borrowing powers to support our commercial activity and generate income. This is what has protected Eastleigh residents from the Borough Council having to make cuts to services all these years. The Department for Levelling up approached a number of councils earlier last year to better understand local government finance, and we are pleased to help them. The external review now commissioned supports this work, which we fully support. If it leads to better funding for all councils from the Government, after years of cuts, that will be a big help for residents.”