Decision details

Cabinet:

1.            Noted the original and currently projected budget gap and the assumptions upon which these had been based, and the risks associated with them.

2.            Noted the draft Medium Term Financial Strategy (MTFS), covering the period from 2017/18 to 2019/20, set out in the report.

3.            Noted that there was a range of risks and assumptions made as part of the development of the strategy and that updates would be provided to Cabinet should these vary, in the build-up to Council Tax setting.

4.            Noted that any alternative proposals from Overview & Scrutiny or opposition groups, that would need to be subject to consultation, would need to be subject to a robust review before they could be considered for inclusion in the Council’s budget and therefore had to be submitted by 10^th November prior to the next meeting of Cabinet on 14^th December in order to be considered as part of the consultation process.

5.            Noted that a range of corporate strategies might be impacted by the budget strategy and these would need to be updated and approved accordingly.

6.            Reviewed the initial proposal to maintain a core capital programme of around £4.9m a year subject to a detailed review of available receipts and to a further review of borrowing costs.

7.            Agreed to receive a further report in December to consider progress to date in delivering the 2016/17 budget, developing further proposals for 2017/18 and beyond and providing an update on the prospects for the financial settlement following the Chancellor’s Autumn Statement.

8.            Noted the advice of the Section 151 Officer in setting a robust budget.