The administration said it was confident a loan from central government will be enough to tide it over while it gets the council’s finances in order.
Failing this, the council can issue a section 114 notice, as Birmingham City Council did two years ago. This means a council cannot make new spending commitments and must meet within 21 days to discuss what to do next.
A last resort would be for the government to step in and effectively run the authority.
There is also a question to be answered about timescales when it comes to putting the council back on an even financial keel.
Gloucestershire is going through the process of getting rid of its seven existing county and district councils, to replace them with one or two super authorities which…