The Executive of North Northamptonshire Council met on Tuesday 10 February 2026 to approve key financial plans for the upcoming year. The meeting saw the endorsement of the General Fund Final Budget for 2026-27, the Housing Revenue Account (HRA) Final Budget for 2026-27, and the Treasury Management Strategy.

General Fund Final Budget 2026-27, Medium-Term Financial Plan and Capital Programme 2026 to 2030

The Executive endorsed the General Fund Final Budget for 2026-27, recommending it for approval by Full Council. This budget includes an estimated net revenue budget of £891.3m (including the Dedicated Schools Grant) and proposes a Band D Council Tax of £1,918.23, representing a 2.99% increase in the core Council Tax and a further 2% for the Adult Social Care Precept. The budget accounts for £47.3m in pressures and aims to achieve £20.1m in savings, efficiencies, and income proposals. The report noted that the final figures are subject to change following the publication of the Final Local Government Finance Settlement. The Executive also delegated authority to the Executive Director of Finance, in consultation with the Executive Member for Finance, Efficiency and Change, to agree any necessary budget variations before 1 April 2026, and to agree the use of specific reserves to manage the overall budget. Consultation feedback indicated a mixed response to the proposed Council Tax increases, with 47.9% agreeing and 42.4% disagreeing with the core Council Tax rise, and 51.9% agreeing and 35.3% disagreeing with the Adult Social Care precept.

Housing Revenue Account (HRA) Final Budget 2026-27 and Medium-Term Financial Plan

The Executive recommended for approval to Full Council the 2026/27 Housing Revenue Account (HRA) budget and the Medium-Term Financial Plan for 2027/28 to 2030/31. This includes an increase in dwelling rents of 4.8% for 2026/27, which adheres to the Ministry of Housing, Communities and Local Government rent setting formula. Tenant representatives, through the Tenant Assurance Group (TAG), were consulted and agreed to the proposed rent increase. The HRA budget is projected to remain balanced into the medium term, with assumptions of 3% rent increases annually from 2027/28 onwards, subject to annual consultation and government policy. The Executive also noted the forecast reserves for the HRA up to 2030/31.

Treasury Management Strategy

The Executive endorsed the Treasury Management Strategy Statement and recommended its approval by Council. This strategy sets out the framework for managing the Council's borrowing, investments, and cash flows for 2026-27, aiming to ensure prudent, affordable, and sustainable capital investment plans. Key elements include the Treasury Management Policy Statement, the Treasury Management Strategy Statement and Prudential Indicators, the Minimum Revenue Provision (MRP) Policy, and the Investment Strategy. The authorised borrowing limit for External Debt was set at £799.664m, with an operational boundary of £749.664m. The strategy aims to balance risk against return, prioritising the security and liquidity of investments. The Council's borrowing strategy focuses on affordability and sustainability, with a disciplined approach to borrowing only when necessary. The investment strategy prioritises the security and liquidity of funds, with a projected average investment rate of 3.44% for 2026/27. The strategy also outlines policies for managing interest rate risk, refinancing risk, and exchange rate risk, and details the use of financial derivatives.

The meeting also included a welcome to Libby Caulfield, Director of Transformation and Strategy, and noted apologies for absence from George Candler, Executive Director of Place & Economy, and Guy Holloway, Assistant Chief Executive. Councillor Jim Hakewill, Chair of the Corporate Scrutiny Committee, and Councillor Trevor Conway, Chair of the Place & Environment Scrutiny Committee, addressed the Executive regarding the General Fund Budget.