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Issue details

Medium Term Financial Strategy 2015/16 to 2024/25

The Cabinet meeting of 22nd September 2014 considered a report ‘Medium Term Financial Strategy 2015/16 to 2024/25’ and within this report considered that it may be necessary to review the budget process and timetable having regard for the comments arising from the cross party budget working group to explore the options to commence consultation at the earliest opportunity.

 

The corporate management team, Cabinet and the cross party Budget Working Group had explored options to release budget proposals in two stages, enabling views of all residents, partner organisations, businesses and other interested parties to understand the scale of the financial challenge and feedback their views commencing with the first tranche of budget proposals.

 

The report was submitted to Cabinet as part of the Council’s Budget and Policy Framework that required Cabinet to initiate and propose budget proposals to set a balanced budget for the forthcoming financial year.

 

The purpose of the report was to:

 

·      approve the first phase of Cabinet’s budget proposals for consultation to contribute towards closing the budget gap of £25m. Subject to Scrutiny feedback and comments from all residents, partner organisations, businesses and other interested parties, Cabinet will recommend budget proposals to Council in December 2014 to implement at the earliest opportunity;

·      approve and outline the approach for the remaining budget process; and

·      outline the financial challenge the council faces in the current financial year and in setting a balanced budget for 2015/16.

 

 

Decision type: Non-key

Decision status: Recommendations Approved

Notice of proposed decision first published: 31/10/2014

Decision due: 24 Nov 2014 by Cabinet

Lead member: Cabinet Member for Resources

Lead director: Acting Corporate Director Resources

Department: Resources

Contact: Steven Pilsworth, Service Director Financial Services Email: steven.pilsworth@peterborough.gov.uk; Tel: 01733 384564 Email: Steven.Pilsworth@peterborough.gov.uk Tel: 01733 384564.

Consultation process

Relevant internal and external stakeholders.

Relevant Scrutiny Committee: Sustainable Growth and Environment Capital

Meeting Open to Public: n/a

Decisions

Agenda items

Documents

  • It is not anticipated that there will be any documents other than the report and relevant appendices to be published.