Issue details

Cabinet considered the report and RESOLVED to:  

1.    Note 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.    Note that all grant figures are provisional pending the Final Settlement in February 2017;

3.    Approve the Phase 2 Budget Conversation, including the conversation document;

4.    Seek feedback from Scrutiny, residents, partner organisations, businesses and other interested parties on the budget and budget proposals outlined in the budget conversation document;

5.    Approve the draft Medium Term Financial Strategy 2017/18-2026/27 as the basis for consultation, as set out in the attached Schedules which comprise 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.    Approve for consultation 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.