{"id":358,"date":"2023-12-28T23:24:02","date_gmt":"2023-12-28T23:24:02","guid":{"rendered":"https:\/\/dhwnews.com\/?p=358"},"modified":"2023-12-28T23:24:02","modified_gmt":"2023-12-28T23:24:02","slug":"runnymede-council-warned-over-significant-debt","status":"publish","type":"post","link":"https:\/\/dhwnews.com\/?p=358","title":{"rendered":"Runnymede council warned over &#8216;significant debt&#8217;"},"content":{"rendered":"<p>Runnymede council warned over &#8216;significant debt&#8217; after borrowing 71 times its spending power<\/p>\n<div class=\"article-author-container news_story\">\n<div class=\"author-information-container\"><span class=\"author-label\">By \u00a0<\/span><a class=\"publication-theme\" href=\"https:\/\/www.getsurrey.co.uk\/authors\/chris-caulfield\/\" data-method-continue=\"\" data-reset-responsive-cookie=\"true\" data-tmdatatrack=\"author\" data-tmdatatrack-visible=\"true\">Chris Caulfield \u00a0 \u00a0<\/a><span class=\"job-title\">Local Democracy Reporter\u00a0 \u00a0 \u00a0 <\/span>27 DEC 2023<\/div>\n<\/div>\n<div><\/div>\n<div>\n<p>A Surrey council has been served formal notice over its \u201csignificant debt\u201d and an over reliance on commercial income to support its services. The Department for Levelling up, Housing and Communities (DLUHC) has written to\u00a0<a href=\"https:\/\/www.getsurrey.co.uk\/all-about\/runnymede-borough-council\" target=\"_self\" rel=\"Follow noopener\" data-content-type=\"section-topic\" data-link-tracking=\"InArticle|Link\">Runnymede Borough Council\u00a0<\/a>after it borrowed 71 times its core spending power to fund an &#8220;investment strategy that produces a less than 1 per cent return\u201d.<\/p>\n<p>DLUHC&#8217;s Best Value Notice was issued on Tuesday, December 19, after the Chartered Institute for Public Finance and Accountancy raised concerns in July. The council can still receive, and be awarded, government funding while under the 12 month notice.<\/p>\n<p>The full article may be found here:<a href=\"https:\/\/www.getsurrey.co.uk\/news\/surrey-news\/runnymede-council-warned-over-significant-28332380\">https:\/\/www.getsurrey.co.uk\/news\/surrey-news\/runnymede-council-warned-over-significant-28332380<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Runnymede council warned over &#8216;significant debt&#8217; after borrowing 71 times its spending power By \u00a0Chris Caulfield \u00a0 \u00a0Local Democracy Reporter\u00a0 \u00a0 \u00a0 27 DEC 2023 A Surrey council has been served formal&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-358","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Runnymede council warned over &#039;significant debt&#039; 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