Decision details

RESOLVED:-

(KEY DECISION)

That the Executive recommended for approval to Full Council the following:-

a)   the 2022-23 revenue budget for approval and adoption as set out in this report, which sets:

i.          a budget requirement of £628.1m including Dedicated Schools Grant of £332.3m resulting in a net revenue budget requirement of £295.9m as set out in Appendix A.

ii.         a total Council Tax requirement for the Council’s own purposes of £178.471m as contained in paragraph 5.29.

iii.        An average Band D Council Tax of £1,578.73 for North Northamptonshire Council, representing a 1.99% increase in the ‘core’ Council Tax and a further 1% for the Adult Social Care Precept. Noting that a separate Council Tax Resolution Report will be presented to Full Council as set out in paragraph 5.31.

iv.        the detailed proposals of savings, pressures and income generation for 2022-23 as set out within the report and Appendix B.

v.         the provisional dedicated schools grant budget of £332.3m for 2022-23, as detailed in Appendix C, and summarised in paragraphs 5.47 – 5.58.

vi.        the draft planned use of, contribution to, and movement in, reserves as identified in paragraph 5.60 and section 9 subject to the final call on reserves after any changes are required to account for final charges etc

vii.      the corporate budget requirements as set out in paragraph 8.1, including a contingency sum of £4.750m as set out in paragraph 8.2.

viii.     the Treasury Management Strategy for 2022-23 as set out in Appendix H, including the Authorised Borrowing Limit of £859m, and to note a further update to the Strategy will be provided once the disaggregation of Northamptonshire County Council’s Balance Sheet has been finalised, subject to the External Audit of the former County Council’s accounts.

ix.        that Council delegate authority to the Executive Member for Finance and Transformation in consultation with the Executive Director of Finance (Section 151 Officer) to agree any necessary variations to the budget prior to 1st April 2022.

x.         that Council delegate authority to the Executive Member for Finance and Transformation in consultation with the Executive Director of Finance (Section 151 Officer) to agree the use of the following reserves which will provide the flexibility to manage the overall budget during 2022-23.

·       Social Care Reserve

·       Transformation Reserve

·       Public Health Reserve

·       Waste Management Reserve

·       Risk Reserve which includes the capacity to support further/residual issues associated with the COVID-19 pandemic

RESOLVED:-

That the Executive:

a)    noted that the financial position has been based on the Provisional Local Government Finance Settlement announced on 16^th December 2021 together with any further announcements to the date of the publication of this report.

b)    noted the Consultation feedback as at Appendix G for consideration;

c)    considered the outcome from the Finance and Resources Scrutiny Committee, as detailed at Appendix G and any subsequent representations to Committee;

d)    noted the Equality Impact as at Appendix F as having been taken into consideration;

e)   noted the Section 25 Report of the Executive Director of Finance (Section 151 Officer) as set out in Section 15, including her review of the robustness of the estimates and the adequacy of the reserves;

f)     delegated authority to the Executive Member for Finance and Transformation in consultation with the Executive Director of Finance (Section 151 Officer) to draft the recommended budget resolution for Council in accordance with the necessary legal requirements and to take into account the decisions of the Executive and any final changes and other technical adjustments;

g)    noted that the transfer of £6.585m from reserves relates to a timing issue in respect of Business Rates Reliefs to support businesses through COVID-19. This is a timing issues which recognises that these grants were awarded and accounted for in the General Fund in 2021-22 but the reduced yield in Business Rates is not reflected in the Collection Fund until 2022-23;

h)   delegated authority to the Executive Member for Finance and Transformation in consultation with the Executive Director of Finance (Section 151 Officer) to conclude the disaggregation of the predecessor Councils, Northamptonshire County Council’s accounts following certification and final sign off by the External Auditor.

Reason for Recommendations: To ensure that the Council complies with its Constitution and legislative requirements in setting the budget for North Northamptonshire Council from 2022-23.