Last year, there was a lot of talk about whether or not the council would “go bankrupt”.
Councils technically cannot go bankrupt – but they can issue what’s called a Section 114 notice, where they cannot commit to any new spending, and must come back with a new budget within 21 days that falls in their spending envelope.
And when they do, it often means an impact on residents with severe cuts to frontline services.
This is why Hinchcliffe says the council made the “difficult decision” last year to raise council tax by almost 10% and sell off some buildings to reduce borrowing costs and protect public services.
She says the authority’s actions over the last year are bringing “financial stability” to the council.
“We have a seven-year plan to secure Bradford Council’s financial future,” she says.
“Next year we’ll be mid-way through that plan and this latest report shows that it’s working.
“There’s still a lot to do, but the direction of travel is positive and steady.”
