Northants County Council forecasting a revenue underspend
|Author: Liam Beasley||Published: 3rd February 2020 15:27|
Almost two years to the day since its first Section 114 notice was issued, Northamptonshire County Council’s latest revenue monitoring report is forecasting a £29,000 underspend at year-end.
Published today (February 3 2020) the report for Period 9 in the 2019-2020 financial year shows the revenue position has improved from the £549k year-end overspend, which was forecast last month.
Councillor Matt Golby, leader of Northamptonshire County Council said: “The section 114 notice was issued on 2 February 2018. And now, almost exactly two years on from this date, we are pleased to be publishing a financial monitoring report which forecasts an underspend at year-end.
“This is an achievement to be proud of and is evidence of the hard work that has taken place throughout the organisation over the past two years to stabilise our financial position.
“This hard work is still continuing as we remain cautious and fully committed to robust financial monitoring, whilst also developing services so that they are more sustainable. This is demonstrated throughout our budget proposals for 2020/2021 which lays the groundwork for a transition into two new unitary authorities next year.”