Tuesday, 24 August 2010

Region. Councils and availbale funds

Liverpool and Penrith councils have been named in a Department of Local Government report as having insufficient funds readily available to pay for the goods and services they use. To reach this finding, the report assessed the ''level of liquidity and the ability to satisfy obligations as they fall due'' at each council. It presented its findings as a ratio of the amount of money available to meet liabilities (called the unrestricted current ratio) and said any ratio less than 1.5:1 was ''unsatisfactory''. Liverpool had a ratio of 1.29:1 and Penrith1.17:1.



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