Decision details

Cabinet considered the report and NOTED:

1.      The advice of the Chief Finance Officer per Schedule A, the continuing uncertainty of national public finances, and the risks surrounding forecasts and budget proposals.

2.      That all grant figures were provisional pending the Final Settlement in February

and APPROVED:

3.      The approach to the Phase 2 budget consultation.

4.      The draft Medium Term Financial Strategy 2016/17 – 2025/26 (including Phase 2 budget proposals) for consultation as set out in the Schedules attached to the report which comprised of:

a. Report of the Chief Finance Officer

i.  Proposed a Council Tax rise of 2% for 2016/17, with indicative increases of 2% for future years for planning purposes.

ii. Proposed a Social Care precept of 2% for 2016/17.

b. Forecast Revenue Outturn 2015/16

c. Budget Proposals, Key Figures & Cash Limits

i.  Approved for consultation the Fees & Charges proposals as detailed in Schedule C section 12 of the report.

d. Treasury Strategy & Minimum Revenue Provision Policy

e. Capital Strategy, Programme & Disposal 2016/17 – 2025/26

f.  Asset Management Plan

g. Phase 2 Budget Conversation Document

and further RESOLVED:

5.    To delegate authority to the Chief Finance Officer to investigate the government’s offer of a four-year finance settlement (Schedule A of the report) and to take action if necessary before the next Cabinet meeting. If this delegated authority was exercised, details would be reported at the next scheduled meeting.

To enable consultation to occur, which would in turn allow Cabinet to recommend to Council the Phase2 budget proposals.

Cabinet would have a further opportunity to review proposals on 29Februarybefore making a final recommendation to Council.

None.

The documents comprising the attached Medium Term Financial Strategy are as follows:

Contents

Schedule A – Report of the Chief Officer

Schedule B – Revenue Outturn Forecast

Schedule C – Budget Proposals, Key Figures &Cash Limits

Schedule D – Treasury Strategy, Prudential Code & Minimum Revenue Provision

Schedule E – Capital Strategy, Programme &Disposal 2016/17– 2025/26

Schedule F – Asset Management Plan

Schedule G – Phase 2 Budget Conversation Document