Decision details

2.1            Cabinet reviewed the contents of the report and identifies actions to be taken to address any issues arising from it.

2.2            Cabinet agreed the principle of the Council submitting a bid to be a pilot for 100% Business Rates retention in partnership with other Northamptonshire local authorities.

2.3            Cabinet delegated authority to the Chief Executive, in consultation with the Chief Finance Officer and the Leader of the Council, to finalise such a bid, subject to satisfactory completion of financial modelling, assessment of the potential financial benefits and risks, and suitable governance procedures being in place.

2.4            Cabinet noted that under the Management Agreement with Northampton Partnership Homes (NPH) a restricted virement has been authorised which moves £150k from the Capital investment managed budget to the Operational Management fee pot.

2.5            Cabinet agreed the creation of an HRA Capital Budget of £500k for Repurchase of Right-to-buy properties and/or spot purchases, to be funded from 141 receipts and additional non 141 capital receipts received in year.