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Decision details

Medium Term Financial Strategy 2018-23

Decision Maker: Cabinet Member for Finance

Decision status: Recommendations Approved (subject to call-in)

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

The purpose of the Report is to:

           provide Members with details of the forecast financial position of the Council for the next 5 years; and

           to recommend the approach to budgeting and business planning that will be necessary to achieve a balanced budget position over the medium term.

Decision:

That the Deputy Leader, consulting with Cabinet:-

 

(i)  notes the political foreword from the Deputy Leader / Cabinet Member for Finance;

(ii) approves the Medium Term Financial Strategy (5 year plan), including the proposed financial approaches and assumptions adopted therein, and noting that the potential solutions to balance means increasing risk to Sheffield City Council; and

(iii)  notes the forecast position, context, risks and opportunities that may impact the proposals within the medium term.

 

Reasons for the decision:

To provide a strategic framework for the development of budget proposals and the business planning process for 2019/20 and beyond.

Alternative options considered:

A number of alternative courses of action are considered as part of the process undertaken by Officers before decisions are recommended to Members. The recommendations made to Members represent what Officers believe to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and the Capital Programme.

 

For further details please see the contents of the MTFS.

Publication date: 10/08/2018

Date of decision: 10/08/2018

Date comes into force if not called in: 17/08/2018

Call-in deadline date: 16/08/2018

Current call-in Count: 0

Accompanying Documents: