Medium Term Financial Strategy 2018/2019 To 2020/2021 - FEB18/CAB/94
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Cabinet considered the report and RESOLVED (unanimous) to:
1. Note the statutory advice of the Chief Finance Officer outlined in section 6, The Robustness Statement. This was required to highlight the robustness of budget estimates and the adequacy of the reserves.
2. Note all the grant figures which are provisional, pending the Final Settlement in late February 2018.
3. Approve the Phase Two budget proposals, outlined in Appendix H, as the basis for public consultation. This included a 5.99 per cent council tax increase, assumed in the 2017/18 Medium Term Financial Strategy and a change in service delivery for the 0-25 Provider service.
4. Approve the Medium Term Financial Strategy 2018/19-2020/21 as the basis for consultation, as set out in the body of the report and the following appendices:
· Appendix A – Budget Context highlighted in Phase One, MTFS for 2018/19-2020/21
· Appendix B – 2018/19 MTFS detailed position
· Appendix C – 2018/19 MTFS by department
· Appendix D – 2018/19 MTFS by Service
· Appendix E – Capital Schemes
· Appendix F – Council Grants
· Appendix G – Fees and Charges
· Appendix H – Budget Proposals (consultation document)
· Appendix I – Equality Impact Assessments
Reasons for the decision:
The Council must set a lawful and balanced budget. The approach outlined in the report worked towards this requirement.
Alternative options considered:
No alternative option was considered as the Cabinet was responsible under the constitution for initiating budget proposals and the Council was statutorily obliged to set a lawful and balanced budget by 11 March annually.
Interests and Nature of Interests Declared:
Medium Term Financial Strategy 2018/19 to 2020/21 Consultation – Cabinet 20th November 2017
Medium Term Financial Strategy Phase one consultation response – Cabinet 4th December 2017
Publication date: 09/02/2018
Date of decision: 09/02/2018