Decision status: Recommendations Approved
Is Key decision?: Yes
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.
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.
To provide a strategic framework for the development of budget proposals and the business planning process for 2019/20 and beyond.
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
Effective from: 17/08/2018
Accompanying Documents: