The report to Cabinet forms part of the Council’s formal Budget and Policy Framework. This requires Cabinet to initiate and make proposals and update assumptions to set a balanced budget for the financial years 2021/22 -2023/24. There is a legal requirement to set a balanced budget for 2021/22. The purpose of this report is to:
· Recommend that Cabinet approve the Phase One service proposals;
· Recommend that Cabinet approve the budget assumptions to update the Medium-Term Financial Strategy (MTFS), to ensure estimates reflect the most up to date information available;
· Outline the financial impact of C-19 and other financial challenges facing the Council, in setting balanced budget for the MTFS 2021/22-2023/24;
· Outline the strategic approach and actions taken by the Council to deliver a balanced budget in 2021/22;
Proposals will be agreed by Cabinet, following consideration of the feedback received to the consultation, on 30 November 2020 with a recommendation to Council on 9 December 2020 for approval.
Decision type: Non-key
Decision status: Recommendations Approved