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RESOLVED: Cabinet;

a)   
Approved the 2025-26 Budget for West
Northamptonshire set out in this report, and recommends the Budget
to the Full Council meeting on 20 February including:
                          
I.         
an estimated net revenue budget of £959.6m
(£431.8m excluding Dedicated Schools Grant) as set out in
Appendix A
                        
II.         
an average Band D Council Tax of £1,866.98 for
West Northamptonshire Council, which represents an average increase
of 4.99%. (2.99% increase in ‘core’ Council Tax and 2%
Adult Social Care Precept)
                      
III.         
proposed Fees and Charges as detailed in Appendix
E
                     
IV.         
Dedicated schools grant budget of £527.7m as
detailed in Appendix F
                       
V.         
Capital Strategy additions as set out in Appendix
G
                     
VI.         
the Medium Term Financial Strategy from 2025-2030 as
set out in Appendix D
                   
VII.         
the Flexible use of Capital Receipts Strategy set
out in Appendix H
                 
VIII.         
the Treasury Management Strategy set out in Appendix
K
                     
IX.         
setting the authorised limits for borrowing as set
out in Appendix G1 section 8.13 and 8.14

b)   
Noted the final tax base for West Northamptonshire
at 146,150.3 Band D equivalent properties, as set out in paragraph
5.79.

c)    
Delegated authority to the Executive Director
– Finance to take the necessary steps to introduce the new
premiums on second homes as set out in paragraphs 5.82.

d)   
Recommended the following to Full Council on 20
February 2025, to ensure that the revenue and capital budget and
all associated financial policies can be delivered from 1 April
2025 and to also ensure there is flexibility to manage the overall
budget in the year;
                          
I.         
To delegate authority to the Executive Director -
Finance to manage any variation in budget prior to the start of
2025-26 as a result of final confirmation of the local government
finance settlement, or as a result of unforeseen commitments; in
consultation with the Cabinet Member for Finance.
                        
II.         
To delegate authority to the Executive Director -
Finance in consultation with the Cabinet Member for Finance to
amend the capital programme for 2025-26 going forward so that it
accurately reflects issues such as slippage on current year
projects that will need to be added to the programme, any
amendments made to existing capital programmes, adjustments to
accommodate any future use of capital receipts policy and for any
other reason where the Capital Programme needs to be
adjusted.
                      
III.         
To note the use of reserves as summarised in the
table contained at paragraph 5.87.
                     
IV.         
To delegate authority to the Executive Director -
Finance to employ earmarked reserves for the purposes they were set
up for including the release of the risk reserve if
required.
                       
V.         
To delegate authority to the Executive Director
– Finance in consultation with the portfolio holder for
finance to release the general contingency fund of £11.3m if
required in the year.
                     
VI.         
To note the Executive Director – Finance has
delegated authority to amend fees and charges.

e)   
For the Dedicated Schools Grant (DSG):
                          
I.         
Noted the provisional allocations and planned usage
of the DSG for 2025-26 pending the final DSG settlement
                        
II.         
Following consultation with the Schools Forum,
delegated authority to the Executive Director for Children’s
Services to determine the DSG 2025-26 schools funding formula, high
needs funding arrangements and the Early Years Funding Formula in
line with Department for Education guidance.

f)     
Considered the Section 25 statement of the Chief
Finance Officer detailed in section 8 of the report.

g)   
Noted the consultation feedback on the budget in
Appendix I.

h)   
Noted the feedback from the Overview and Scrutiny
Committee in Appendix J.

i)      
With respect to meeting the Government’s
pension fund asset pooling agenda for Cabinet to recommend the
following to Full Council on 20 February 2025, to ensure that we
can proceed at appropriate pace, and to make decisions and take
necessary actions. Specifically:
a)   
Delegation to the Executive Director - Finance in
consultation with the Cabinet Member for Finance: If ACCESS decides
to build an FCA-regulated entity, to delegate to officers the
authority to explore and support the creation of the entity by
ACCESS. This includes developing shareholder agreements,
establishing governance structures, and ensuring all steps
necessary to meet regulatory requirements, including compliance
with capital requirements. The Shareholder Agreement would be
brought to a future meeting for consideration and agreement by
Council. In the event that ACCESS decides not to build an
FCA-Regulated entity, alternative reports will be prepared and
submitted to the Pension Committee for consideration of the
options.
 
REASONS RESOLVED:
To ensure that the Council
complied with its Constitution and all other relevant legislative
requirements in setting the budget for West Northamptonshire
Council.
 
ALTERNATIVE OPTIONS:
These are set out within the
report.