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Final budget proposals for 2022-2023 to be discussed by North Northamptonshire Full Council


21 February 2022

Photo of cash notes

Final budget proposals for North Northamptonshire Council for the next financial year will be presented at the authority’s Council meeting on February 24. 
Draft proposals were initially approved by the Executive on December 23 and these were subject to a detailed consultation process and scrutiny, before being reported back to the Executive on February 10
The council is working hard to protect vital services, while at the same time presenting a balanced budget, with a net revenue budget of £295.9 million for 2022-2023. 
This funding provides a range of services to residents and businesses across the area including care for vulnerable adults and children, education, the disposal and collection of waste, household waste recycling, economic development, housing and support for the homeless and a leisure and cultural offer.
The council’s commitment to tackling the effects of climate change is emphasised with a dedicated pot of £1 million over the next three years to be invested in moving towards being a carbon neutral organisation. 
The council is also investing in Northamptonshire Children’s Trust to help deliver service improvements for some of our most vulnerable children and young people.  

The authority is also proposing to reintroduce bus subsidies for rural routes – helping connect communities and reduce car journeys. 

I’m delighted that after a lengthy consultation process we are in a position to table our final budget proposals to the Council. 
This is very much a budget of stability – laying the foundations for future years of growth and development in North Northamptonshire.
Cllr Lloyd Bunday, the council’s executive member for finance and transformation
I’m pleased that despite the uncertain times we’re living in, we’ve been able to develop proposals that aim to benefit our residents while at the same time are affordable. 
Making life better for everyone in North Northamptonshire is the overarching priority for this authority and creating stable foundations is essential if we are going to work towards this goal.
Cllr Jason Smithers, Leader of the Council

North Northamptonshire Council’s budget sets out a detailed spending strategy for the authority for the financial year 2022-2023 as well as outlining the medium-term financial plan for the next two years. 
The budget further develops firm financial foundations for the council as it settles into its second year following the reorganisation of local government in Northamptonshire. 
Proposals focus on further transformation of services as well as developing policies around the authority’s corporate plan. 
While the council is in a stable position now, it is recognised that the Covid pandemic has had a profound effect on societies and economies around the world and this presents some uncertainty in the medium term. 
However, the council believes that by being prudent it can be in the best position possible as it moves forward. 
It is proposed that council tax is increased by 2.99%, which includes the adult social care precept of 1%. There is no change to the Local Council Tax Support Scheme which will continue at 25%.  

Capital Programme 

Final proposals for North Northamptonshire Council capital projects will also be put before the Council, totalling £75.1m over a three-year period. General capital projects make up £37.0m of this amount while the Housing Revenue Account is £38.1m.
There is also a Capital development pool - totalling £81.8m - for the progression and prioritisation of 24 key schemes. 

Housing Revenue Account  

The Housing Revenue Account (HRA) is a separate ring-fenced account within the Council for the income and expenditure associated with its housing stock.  
The HRA does not directly impact on the Council’s wider general fund budget or on the level of council tax. Income to the HRA is primarily received through the rents and other charges paid by tenants and leaseholders.  
This year’s HRA proposal is for a balanced budget covering two Neighbourhood Accounts, which means there is no need to use reserves for funding. 
There is also a proposed rent increase of 4.1% for the next financial year, which is in line with the Government guidelines for rent setting levels. Any funding received by the HRA is retained within the HRA and will be used to support housing improvements and maintenance.