Posted: 29/03/19 by Northamptonshire County Council
Northamptonshire County Council looks set to lift its Section 114 notice – signalling an end to the turbulent financial situation at the authority.
Latest figures have increasingly shown the Council closing in on a balanced budget and there has been a growing confidence in the authority’s financial sustainability.
Now the Secretary of State’s Commissioners have said that next week’s latest monitoring report will show further progress meaning they believe the Council will be in a position to lift the Section 114 notice.
Leader of the Council Cllr Matt Golby said: “Earlier this year I said that all indications were that we were turning a corner and we had successfully built stability back into the Council’s finances.
“Today’s announcements by the Commissioners further underlines this point. We are due to publish our latest monitoring report next Monday and all indications are that we are now balancing our budget. Given that at one point the deficit stood at £64m this is an incredible achievement.
“All of this has been achieved utilising our own financial resources. The Commissioners, our Chief Executive, her leadership team, my cabinet colleagues and indeed every member of staff at the Council have worked tirelessly to achieve what so many people thought unachievable.
“Of course this does not mean the lifting of strict financial controls, we will never again be complacent and we must continue with the energy and commitment we have shown to get us this far to further strengthen our finances and critically transform our services so they can move forward with confidence.”
Cabinet papers including the latest financial monitoring report will be published next Monday.