Cabinet considered the report and RESOLVED to note:
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) The feedback on the budget proposals from residents, staff and community groups detailed in Appendix A;
3) The delayed Local Government 2017/18 Final Settlement, the advice given to Local authorities from LGA with regards to setting a budget without this information (Appendix B) and that an update would be given to Cabinet at the meeting; and
4) The transport levy arrangements with the combined authority included in the budget.
Cabinet RECOMMENDED to Council:
5) The draft Medium Term Financial Strategy 2017/18-2026/27 (including Phase two budget proposals), as set out in the attached Schedules which comprised of:
a. Report of the Chief Finance Officer,
b. Forecast Revenue Outturn 2016/17,
c. Budget Proposals, Key Figures & Cash Limits (including fees & charges proposals),
d. Treasury Strategy, Prudential Code & Minimum Revenue Provision,
e. Asset Investment Strategy, Acquisition Strategy, Capital Programme & Disposals 2017/18 – 2026/27,
f. Asset Management Plan, and
6) A Social Care precept of 3% for 2017/18 and 3% in 2018/19, as well as the Council tax increase of 2% for 2017/18 and future years, already agreed as part of the 2016/17 budget strategy.