Lead Member – Councillor Gwilym Butler – Portfolio Holder for Finance and Corporate Resources

Report of James Walton, Executive Director of Resources

RESOLVED:

To note the factors affecting the estimated funding gap in 2023/24 and the steps proposed to close that gap and thereby set a balanced budget for next year.

The Portfolio Holder for Finance and Corporate Resources introduced the report, referring to the massive challenge now faced by all councils.   Preparation was underway for the changes needed to see Shropshire Council through the financial storm, some challenge would be unpalatable but would be needed to place the council on a sustainable financial footing and enable delivery of the Shropshire Plan.  Updates would be provided regularly to ensure maximum transparency on the funding situation. 

He reported a typographical error at paragraph 2.4 of the report, where the figure £37.8 m should read as £35.7m

Responding to questions in relation to inflationary pressures, tactical budget work, options under consideration and lobbying activity, he explained that Assistant Directors were were currently working on proposals and options which were to be shared shortly with Cabinet members.

A meeting was scheduled with Shropshire MPs at the end of the week where Cabinet members would ensure full understanding of the issues and challenges.  Going forward, proposals would be available by December as part of the budget review.  The Peer Review Challenge working plan would also be available shortly.  Cabinet members were clear that the Council was in control of its own destiny and could not rely on central government.

RESOLVED:

To note the factors affecting the estimated funding gap in 2023/24 and the steps proposed to close that gap and thereby set a balanced budget for next year.