Financial Strategy 2017/18 to 2019/20
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The Leader and Portfolio Holder for Strategy, Financial Strategy, Budget and Business Plan presented a report from the Head of Finance, Governance and Assurance [s151 Officer] providing an update on the Council’s base budget position including; a review of delivery timescales and values for savings proposals, the implications of information supplied to Cabinet via the Revenue and Capital Monitoring reports, a review of overall resources including Business Rates and Council Tax Taxbase and an update of assumptions around one-off resources such as investment funding, ear-marked reserves, core grants and capital receipts.
i. That the revised projections for expenditure and resources be approved, as set out in Appendices 1 and 2, for the Financial Years 2017/18 and 2018/19
ii. That the revised savings proposals be approved as set out in Appendices 4 and 5.
iii. That the revised funding gap be noted and that the revised proposals be recommended to Council to deliver a balanced budget in 2017/18 and 2018/19 as set out in Appendix 3, including the release of earmarked reserves as set out in Appendix 6.
iv. That the draft outline Revenue Budget be approved as set out in Appendix 7, and the draft outline Capital Programme as set out in Appendix 8, which together will form the basis for Budget Consultation for 6 weeks from 30 November 2016 to 11 January 2017.
Publication date: 30/11/2016
Date of decision: 30/11/2016
Decided at meeting: 30/11/2016 - Cabinet
Effective from: 10/12/2016