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RESOLVED: That
Cabinet:
a)   
Approved the 2024-25 Budget for West
Northamptonshire set out in this report, and recommends the Budget
to the Full Council meeting on 22 February 2024,
including;

      
i.         
an estimated net revenue budget of £889.5m
(£414.5m excluding Dedicated Schools Grant) as set out in
Appendix A.

     
ii.         
an average Band D Council Tax of £1,778.25 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.         
Fees and Charges as detailed in Appendix
D.

   
iv.         
Dedicated Schools Grant budget of £475m as
detailed in Section 7 and Appendix E.

    
v.         
Capital Strategy additions as set out in Appendix F1
and F2.

   
vi.         
the Flexible Use of Capital Receipts Strategy set
out in Appendix G.

 
vii.         
the Treasury Management Strategy set out in Appendix
J.

 viii.         
setting the authorised limits for borrowing as set
out in Appendix F1 section 8.13 and 8.14.
b)   
Noted the final tax base for West Northamptonshire
at 142,664.60 Band D equivalent properties, as set out in paragraph
5.91.
c)    
Would recommend the following to Full Council on 22
February 2024, to ensure that the revenue and capital budget and
all associated financial policies can be delivered from 1 April
2024 and also to ensure there is flexibility to manage the overall
budget in the year:

      
i.         
Delegated authority to the Executive Director -
Finance to manage any variation in budget prior to the start of
2024-25 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.         
Delegated authority to the Executive Director -
Finance in consultation with the Cabinet Member for Finance to
amend the capital programme for 2024-25 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.         
Noted the use of reserves as summarised in the table
contained at paragraph 5.103

   
iv.         
Delegated 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.         
Delegated authority to the Executive Director
– Finance in consultation with the portfolio holder for
finance to release the general contingency fund of £10.0m if
required in the year.

   
vi.         
Noted the Executive Director – Finance has
delegated authority to amend fees and charges.
d)   
For the Dedicated Schools Grant (DSG):

      
i.         
Noted the provisional allocations and planned usage
of the DSG for 2024-25 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 2024-25 schools
funding formula, high needs funding arrangements and the Early
Years Funding Formula in line with Department for Education
guidance.
e)   
Considered the Section 25 statement of the Chief
Finance Officer detailed in section 8 of the report.
f)     
Noted the consultation feedback on the budget in
Appendix H.
g)   
Noted the feedback from the Overview and Scrutiny
Committee in Appendix I.
h)   
Agreed a further recommendation to Council to
‘top up’ the Council Tax hardship fund by
£150,000 to be funded from one-off earmarked reserves at the
discretion of the Executive Director – Finance.
i)      
Delegated authority to the Executive Director
– Finance to take the necessary steps to introduce the new
premiums on long term empty properties and second homes at the
earliest opportunity as set out in paragraphs 5.94 to
5.96.
 
 
REASONS RESOLVED:
To ensure that the Council
complies with its Constitution and all other relevant requirements
in setting the budget for West Northamptonshire Council.
 
ALTERNATIVE OPTIONS:
The Council is required to set
a balanced budget.