01 April 2019

New figures published today show that Northamptonshire County Council is forecast to be underspent in 2018/2019 – down from a projected overspend at one point this year of £64.4m.

The latest finance monitoring report to be discussed by cabinet next week shows that the current forecast year-end position is an underspend of £0.1m – an improvement on the £0.9m overspend position reported last month.

The current financial position is regarded as being such a move in the right direction that last week the Commissioners, who are currently overseeing the running of the authority, recommended that the Section 114 Notice be withdrawn from 1 April.
 
Leader of Northamptonshire County Council, Cllr Matt Golby said:

 

“This is a remarkable achievement for all concerned and I would like to thank everyone for their hard work in making this happen.

“Let’s not forget that our financial challenge stood at £64.4m earlier this year so to be reporting such a positive situation for period 11 is a considerable accomplishment.

“However we still need to be cautious as although this is exceptionally positive it does not mean that the council has made a full recovery. Our financial position remains fragile.

“As such, the Council will maintain its robust spending controls, including the continuation of the spending control panels, to ensure all spending is scrutinised to demonstrate best value in fulfilling the Council’s objectives.”

 


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