URL: https://northnorthants.moderngov.co.uk/ieDecisionDetails.aspx?ID=2016

Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose: To report on the Revenue Budget on a quarterly basis.

Content: To report on the Revenue Budget on a quarterly basis. RESOLVED   KEY DECISION   That the Executive:   a)      Noted the Council’s forecast outturn position for 2024/25 for the following:   i)      General Fund as summarised in Section 4, alongside the further analysis, risks and other considerations as set out in Section 5 of the report.   ii)              Housing Revenue Account (HRA) as set out in Section 6 of the report   iii)            Dedicated Schools Grant (DSG) as set out in Section 7 of the report.   b)      Approved the following transfers of £4.990m to General Fund reserves which are reflected in the draft outturn position.    ·       Smoothing Reserve Housing (Section 5.47 – Point 5) - £282k ·       Adult Learning Reserve (Section 5.53 – Point 6) - £589k ·       Wellingborough Charity Fund Reserve - £5k ·       Climate Change Reserve (Section 5.55 – Point 6) - £631k ·       Transformation Reserve (Section 5.66 – Point 2) - £1.601m ·       IT Reserve (Section 5.66 – Point 2) - £1.026m ·       Transformation Reserve (Section 5.68 – Point 1) - £476k ·       Transformation Reserve (Section 5.68 – Point 4) - £380k   c)      Approved the following transfers of £1.530m from General Fund reserves which are reflected in the draft outturn position.   ·       General Fund General Reserve (Section 4.1) - £400k ·       Budget Delivery Reserve (Section 5.40 – Point 2) - £297k ·       Insurance Reserve – (Section 5.68 – Point 2) - £591k ·       Members Empowerment Fund (Section 5.72 – Point 2) - £26k ·       Business Rates Reserve (Section 5.74 – Point 2) - £216k      d)      Approved the transfer of £303k to the Public Health Reserve (Section 5.50) which is reflected in the draft outturn position.   e)      Approved the inclusion of the 2024/25 underspend of £631k in the 2025/26 Budget which will be funded from the Climate Reserve to support the development and operation of climate change projects and initiatives as set out in paragraph 5.55 – Point 6.    f)       Approved the inclusion of the 2024/25 underspend of £1.601m in the 2024/25 Budget which will be funded from the Transformation Reserve for the Education Case Management System (£1.280m) and the Regulatory Case Management System (£321k) as set out in paragraph 5.66 – Point 2.   g)      Approved the inclusion of the 2024/25 underspend of £1.026m in the 2024/25 Budget which will be funded from the IT Reserve for the implementation of the IT Strategy as set out in in paragraph 5.66 – Point 2.   h)      Approved the inclusion of the 2024/25 underspend of £282k in the 2024/25 Budget which will be funded from the Smoothing Reserve Housing for one investment as set out in paragraph 5.47 – Point 2.   i)        Approved the inclusion of the 2024/25 underspend of £380k in the 2024/25 Budget which will be funded from the Transformation Reserve for one investment as set out in Section 5.68 – Point 4.   j)        Delegated authority to the Executive Director of Finance and Performance (Section 151 Officer) in consultation with the Executive Member for Finance, Efficiency and Change to make any non-material changes to the draft outturn.   k)      Noted the assessment of the current deliverability of the 2024/25 General Fund savings proposals as set out in Appendix A.     Reason for Recommendations – to note the forecast financial position for 2024/25 as at Period 3 and consider the impact on this year and future years budgets.   Alternative Options Considered: The report focuses on the forecast revenue outturn against budget for 2024/25 and makes recommendations for the Executive to note the current budgetary position as such there are no specific choices within the report.  

Date of Decision: June 17, 2025