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Northants County Council Takes Further Steps Towards Balanced Budget

Author: Kieran Haddock Published: 7th January 2019 14:26
Leader of Northamptonshire County Council, Cllr Matt Golby said: “Clearly we are not out of the woods yet and we simply cannot in anyway become complacent as there is still a lot of work to be completed. But what is clear is that we are now firmly on the right path.Leader of Northamptonshire County Council, Cllr Matt Golby said: “Clearly we are not out of the woods yet and we simply cannot in anyway become complacent as there is still a lot of work to be completed. But what is clear is that we are now firmly on the right path.

New figures published today show that Northamptonshire County Council has taken further steps to balance this year’s budget with a £19m improvement in the overall position over the last five months.
 
The latest finance monitoring report to be discussed by cabinet next week shows that the current forecast year-end position is an overspend of £11m – down from the £30m overspend forecast last July and a further improvement on the £15.6m position reported last month.
 
The report shows that £7.2m of savings from October’s Stabilisation Plan have already been delivered while work continues on implementing the remaining measures.
 
Leader of Northamptonshire County Council, Cllr Matt Golby said: “Clearly we are not out of the woods yet and we simply cannot in anyway become complacent as there is still a lot of work to be completed. But what is clear is that we are now firmly on the right path.
 
“In July when we issued the second Section 114 notice we were forecasting a £30m overspend. Since then we have worked tirelessly with our new management team and the Commissioners and we have made solid progress to close this gap. But we are still short and we must redouble our efforts if we are to further reduce this gap and end the financial year in a balanced position.”
 
The report breaks down the budget into rating each measure green, amber or red in terms of their delivery. Those which are green rated have already been delivered; those which are amber rated are still judged to be deliverable but carry an element of risk; and those which are red are not expected to be delivered.
 
The council’s cabinet and leadership team are continuing to identify new potential savings to make up for any savings which are not delivered and details of these will be made in future reports if they are required.
 
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