Agenda item

16.1

The Director of Finance and Commercial Services presented a report setting out an early view of the medium-term financial position for the Council. This report sets out the scale of mitigations required to offset budget pressures and will be updated in the autumn following details of work on the future Target Operating Model and budget prioritisation activity.

The setting of a robust and balanced Medium Term Financial Strategy will enable the Council to remain financially sustainable and deliver against the Council Plan.

16.2

RESOLVED UNANIMOUSLY: That Strategy and Resources Policy Committee:-

(a) approves the Medium Term Financial Strategy as set out in this report and summarised in Appendix 1;

(b) endorses the proposed approach to ensure the financial sustainability of the Council over the medium term; and

(c) notes the Sheffield City Council Productivity Plan as mentioned in paragraph 1.8 of this report and attached at Appendix 4

16.3

Reasons for Decision

16.3.1

The Council is required to both set a balanced budget and to ensure that in-year income and expenditure are balanced. No other alternatives were considered.

16.4

Alternatives Considered and Rejected

16.4.1

No other alternatives were considered.

28.1

The Director of Finance and Commercial Services presented a report setting out an early view of the medium-term financial position for the Council. This report sets out the scale of mitigations required to offset budget pressures and will be updated in the autumn following details of work on the future Target Operating Model and budget prioritisation activity.

The setting of a robust and balanced Medium Term Financial Strategy will enable the Council to remain financially sustainable and deliver against the Council Plan.

28.2

RESOLVED UNANIMOUSLY: That Strategy and Resources Policy Committee:-

(a) approves the Medium Term Financial Strategy as set out in this report and summarised in Appendix 1;

(b) endorses the proposed approach to ensure the financial sustainability of the Council over the medium term; and

(c) notes the Sheffield City Council Productivity Plan as mentioned in paragraph 1.8 of this report and attached at Appendix 4

28.3

Reasons for Decision

28.3.1

The Council is required to both set a balanced budget and to ensure that in-year income and expenditure are balanced. No other alternatives were considered.

28.4

Alternatives Considered and Rejected

28.4.1

No other alternatives were considered.