Cabinet considered a report by the Head of Finance, Governance and Assurance on an overview of the latest estimates of the Council’s revenue resources and expenditure. The report was set in the context of the Council’s other key strategic documents, in particular, the Treasury Management Strategy and the Capital Strategy which was now incorporated within the Business Plan.

(a)  That it be noted that the funding gap of £80m for the period 2014-17 identified in the Council Business Plan and Financial Strategy agreed by Council in February 2014 was retained for planning purposes.

(b)  That the initial funding gap identified for 2017/18 be noted, which would be refined before being built into the Council’s next Medium Term Financial Plan.

(c)  That it be noted that a further, updated report, was due to be presented to Council in September to reflect the financial implications of the planned university and Annual Business Plan for ip&e.