Financial sustainability in local government FT Paul Dossett (Head of Local Government at Grant Thornton)

It was fantastic to sit down with Paul Dossett, Partner and Head of Local Government at Grant Thornton discussing financial sustainability in local government at the present time.Paul answered the following questions:- What is the current picture of financial sustainability in local government?- While councils cannot go ‘bankrupt’, they instead issue section 114 notices and we have seen significantly more of these issued over the past couple of years. Are these section 114 notices the right answer to solving financial sustainability issues?- Commercial investments have increased in the sector over recent years. Why is this and what is the risk associated with these alternative investment approaches?- Demand is increasing across many services for councils, notably in adults and children’s services and homelessness – is the sector’s financial position sustainable enough to manage these increasing demand led pressures?- Good governance is key to good financial management of public funds. What constitutes good governance within a council?