Purpose

To approve for consultation the
2024-25 Draft Revenue Budget

Content

RESOLVED
 
KEY DECISION
 
That the
Executive:
 
a)
    Approved for consultation
the 2024-25 Draft Revenue Budget, which includes:
                         

i.          
an estimated net revenue budget of
£371.5m (£759.6m including the
Dedicated Schools Grant) as set out in Appendix A, noting that this is subject to further update and
change following the publication of the provisional Local
Government Finance Settlement.
 

ii.         
a Band D Equivalent Council Tax of £1,740.22 for North
Northamptonshire Council, representing an increase of 2.99% in the
‘core’ Council Tax and a further 2% for the Adult
Social Care Precept.

 

iii.        
pressures of £53.4m, including adjustments for the reversal
of one-off funding in 2023-24, and savings, efficiencies and income
proposals of £18.5m as detailed in Appendix B.
 

iv.       
the provisional Dedicated Schools Grant budget of £388.1m for
2024-25, pending the final settlement, as detailed in Appendix
C.
 

v.         
the draft planned use of, contribution to, and
movement in, reserves as identified in paragraph 5.52, section 9
and Appendix D of the report, noting the reserves will be reviewed
again after the Finance Settlement and prior to the final budget
proposals, to consider the risk applying at that time.
 

vi.       
corporate budget requirements as set out in
paragraph 8.1, including a contingency sum of £4.1mas
set out in paragraph 8.2.
 
b)
   For the
Dedicated Schools Grant (DSG):

 

i.          
Noted the provisional allocations of the funding for the Schools
Block, High Needs Block, Early Years Block and the Central School
Services Block.
 

ii      
Following consultation with the Schools Forum, delegated authority
to the Executive Member for Children, Families, Education and
Skills  in consultation with the
Executive Member for Finance and Transformation, Executive Director
for Adults, Health Partnerships and Housing (and Children’s
Services – Interim), and the Executive Director of Finance
and Performance (S151 Officer) to determine the DSG 2024-25 schools
funding formula, high needs funding arrangements and the early
years funding formula in line with Department for Education
guidance.
 

c)     Noted the decision making
principles of the Transformation and Efficiency Board for
Children’s Services (Northamptonshire Children’s Trust)
as set out in paragraphs 7.17 to 7.20 and delegates authority to
the Executive Member for Children, Families, Education and Skills
in consultation with the Executive Member for Finance and
Transformation, the Executive Director for Adults, Health
Partnerships and Housing (and Children’s Services -
Interim) and the Executive Director of Finance and Performance
(S151 Officer) to approve allocations from the Transformation and
Efficiency funding held within the Children’s Trust budget in
support of change programmes. 
Investment decisions will be subject to approval following the
submission of detailed business cases.

 

d)     Endorsed the
budget consultation process as outlined at paragraphs 13.16 to
13.20 which commences following the approval of the recommendations
in this report.

 

e)     Noted that the
funding allocations are estimates only at this stage and will not
be confirmed until the publication of the provisional Local
Government Finance Settlement.

 
f)
     Delegated authority
to the Executive Member for Finance and Transformation in
consultation with the Executive Director of Finance and Performance
(S151 Officer) to amend the draft budget following the publication
of the provisional Local Government Finance Settlement.
 
 
The Executive also:
 

a)     
Noted the changes to the draft budget
arising from the Provisional Local Government Finance
Settlement.
 

b)     
Approved the use of the Budget Delivery
Smoothing Reserve to meet the net shortfall in funding of
£0.748m arising, predominantly, from a reduction to the
Services Grant.  Noting that further
work will now be undertaken to look at options to meet this
shortfall on a recurring basis.
 
 
Reason for
Recommendations: To ensure that the Council complies
with its Constitution and legislative requirements in setting the
budget for North Northamptonshire Council from 2024-25.
 
Alternative Options Considered – This is the start of the
formal budget consultation for the General
Fund and any comments from the consultation, together with
any changes from the Finance Settlement, will be considered as part
of this process to inform the need for alternative
options.