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28 March 2019, 13:12 | Updated: 28 March 2019, 13:14
Government Commissioners overseeing the financial status of Northants County Council say next week’s latest monitoring report is going to show further progress in reducing the authority's perilous financial position - so much so - the Commissioners believe the Council will be in a position to lift the Section 114 notice.
In doing so, it will officially signal the end of the authority's turbulent financial situation.
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.
Cabinet papers including the latest financial monitoring report will be published next Monday.
Brian Roberts, Finance Commissioner for the Council, said:
"We are impressed that this has been achieved without the use of any funds other than those budgeted for at the beginning of the year.
The County Council is living within its own means and has demonstrated that it is capable of doing so without putting services at further risk. It is a significant achievement which reflects well upon the Members and staff of the Authority.
Whilst the disciplines of the s114 process have assisted in this - and will be retained - there is no longer a need for the Council to live under the shadow of this failure. The work to restore the operating capabilities of many of the Council's services, which have been greatly diminished over the years, can continue as the Council prepares to place these services into proposed new arrangements for two unitaries in the county area.”