The Enfield Council Cabinet met on 11 June 2025, and among the decisions made, they approved a new business plan for Energetik, and also approved a strategic delivery plan for the Schools Capital Programme. The Cabinet also discussed the council's financial performance, including an overspend in the Housing Revenue Account (HRA).

Here's a more detailed look at the key topics discussed:

Financial Performance and Risk Management

The Cabinet reviewed the 2024/25 Draft Financial Outturn Report, which detailed the council's spending between April 2024 and March 2025. The report highlighted an overall overspend of £6.1m, despite improvements in school ratings and fly-tipping clearance. Key areas contributing to the overspend included temporary accommodation, looked-after children, and housing benefit subsidy losses.

The Cabinet agreed to new risk reserve targets and a plan to transfer £10.7m to risk reserves, contingent on government approval to fund overspends using proceeds from asset sales. They also approved the carry-forward of £34.0m in unspent capital budget to the 2025/26 capital programme.

Councillor Tim Leaver, Deputy Leader of the Council and Cabinet Member for Finance and Procurement, also introduced the Treasury Management Outturn Report 2024/25. The report noted an underspend of £7.4m against the budget, attributed to the withdrawal of voluntary Minimum Revenue Provision (MRP) and lower net interest costs. The Cabinet also recommended that the council approve an increase to the limit on deposits placed with UK Banks from £5m to £25m, and an increase to the proportion of principal loan repayments allowed to fall due in ten years from 45% to 50%.

Schools Capital Programme

The Cabinet approved the Schools Capital Programme Strategic Delivery Plan 2025/26 - 2026/27, which outlines projects to improve school facilities and increase Special Educational Needs (SEN) provision. The plan includes ongoing maintenance, expansion of SEN facilities, and decarbonisation efforts. The Cabinet approved spending £15.5m from the schools' 2025/26 capital budget and delegated authority to the Executive Director of People to award contracts and manage the programme.

Councillor Abdul Abdullahi, Cabinet Member for Children's Services, highlighted the importance of addressing the need for additional SEN places and improving learning environments.

Energetik Business Plan

The Cabinet approved Energetik's refreshed business plan, which outlines a strategy to leverage government grant funding and diversify revenue through public building connections. The plan aims to accelerate decarbonisation, improve air quality, and generate long-term income for the borough. The Cabinet also approved the extension of the repayment date for Energetik's working capital facility and delegated authority to the Executive Director of Resources to enter into loan agreements.

Councillor Tim Leaver, Cabinet Member for Finance and Procurement, emphasised the importance of Energetik's role in providing low-carbon heat and supporting the council's environmental goals.

Maintaining Finance and HR Capabilities

The Cabinet approved the procurement and award of a contract for an SAP ERP S/4 HANA platform to update the council's Finance and HR system¹. The aim is to maintain and enhance essential functionality, improve data accuracy, streamline processes, and integrate artificial intelligence. The Cabinet also approved contracts for a system integrator and a consultant to provide independent assurance throughout the transition.

The Cabinet delegated authority to the Executive Director of Resources to enter into the necessary contracts following the procurement processes.

Housing Revenue Account (HRA)

The 2024/25 Draft Financial Outturn Report noted that the Housing Revenue Account (HRA) had overspent by £3.5m, primarily due to increased spending on repairs and costs associated with decanting residents for essential safety maintenance. The overspend will be funded from HRA reserves.