Issue - decisions

Medium Term Financial Strategy 2017-22

21/10/2016 - Medium Term Financial Strategy 2017-22


The Acting Executive Director, Resources submitted a report providing Members with details of the forecast financial position of the Council for the next 5 years and recommending the approach to budgeting and business planning that will be necessary to achieve a balanced budget position over the medium term.




RESOLVED: That Cabinet:-





notes the forecast position for the next 5 years, as set out in the report now submitted;






agrees the approach to budgeting and business planning outlined in the report;






agrees to delegate authority to the Acting Executive Director, Resources, in consultation with the Cabinet Member for Finance & Resources, to apply to take up the multi-year settlement supported by the Efficiency Plan at Appendix 6 of the report;






endorses one of the key points of the Council’s response to the Government’s consultation on 100% Business Rates Retention, namely the call for Improved Better Care Fund Grant to be brought forward; and






agrees the following approach to capital planning: 


      Maximise flexibility in capital resources including New Homes Bonus, capital receipts and Community Infrastructure Levy (CIL) to ensure that Council-wide objectives are achieved.

      Review policies in relation to Affordable Housing, CIL and New Homes Bonus to ensure that the generation of these funding streams is optimised.

      Reaffirm the existing Corporate Resource Pool (CRP) allocation principles.






Reasons for Decision




To provide a strategic framework for the development of budget proposals and the business planning process for 2017/18 and beyond.




Alternatives Considered and Rejected




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.




Any Interest Declared or Dispensation Granted








Reason for Exemption if Public/Press Excluded During Consideration








Respective Director Responsible for Implementation




Eugene Walker, Acting Executive Director, Resources




Relevant Scrutiny and Policy Development Committee If Decision Called In




Overview and Scrutiny Management Committee