RESOLVED: That Co-operative Executive:-
1.
Note the forecast position;
2.
Note, as a planning assumption, core Council Tax increases of 2%
each year;
3.
Note the additional pressures caused by the COVID crisis, and in
response consider what further transformation savings are required,
and lobby Central Government for additional financial support;
4.
Note that the Council’s current level of reserves provides a
limited amount of time for action to be taken strategically in
response to the COVID crisis and the more general financial
position, but that firm actions will be needed, on current
projections, to maintain financial stability in the short to medium
term. These actions will include further co-operation with other
key stakeholders, in particular the NHS; and
5.
Note that unless firm action is taken to contain pressures, deliver
agreed savings, and focus any new spending on a small number of key
priorities, the Council’s financial position will soon spiral
out of control
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